SABR Sabre Corporation - Common Stock
NASDAQ · Hotels, Restaurants & Leisure · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 6, 2026SABR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
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About Sabre Corporation - Common Stock Company overview from Wikipedia
Sabre Corporation, a travel technology company headquartered in Southlake, Texas, is the largest global distribution systems (GDS) provider for air bookings. The company's primary product, the Sabre Global Distribution System, and others like it, act as neutral intermediaries, connecting travel suppliers like airlines and hotels with travel sellers like agencies. They offer real-time availability and pricing, making them important for corporate travel management.
Founded by American Airlines in 1960, Sabre was spun off and became an independent company in 2000. In 2007, Texas Pacific Group and Silver Lake Partners acquired Sabre Holdings, the company's former name. Sabre then went public on the NASDAQ stock exchange in 2014.
Sabre's primary competitors are Amadeus IT Group, which operates the Amadeus CRS and Travelport, which operates the Galileo GDS.
History
Early history
In 1953, C. R. Smith, the president of American Airlines, met Blair Smith, an IBM salesman, on a flight and developed the Sabre (the Semi-Automatic Business Research Environment) concept. The system was based on SAGE, the first major system to use interactive real-time computing, which IBM had developed for military use. Sabre Corporation was officially founded in 1960 by American Airlines. Sabre Corporation installed the first Sabre reservation system in Briarcliff Manor, New York that year. The system consisted of two IBM 7090 mainframe computers and processed 84,000 calls per day.
In 1964, Sabre's nationwide network was completed and became the largest commercial real-time data-processing system in the world. Sabre Corporation handled 7500 passenger reservations per hour in 1965. The Sabre system upgraded to IBM System/360 and moved to a new center in Tulsa, Oklahoma in 1972. In 1976, the Sabre system was installed into a travel agency for the first time. This allowed travel agents to have instant access to flights. By the end of the year, 130 locations installed the Sabre system. Sabre introduced BargainFinder, the industry's first automated low-fare search capability, in 1984. The following year, eAAsySabre was launched. eAAsySabre gave consumers with personal computers access to the Sabre system to make airline, hotel and car rental reservations.
By 1989, Sabre was reported as having "about 38 percent of the reservations market." In 1996, the company launched Travelocity, an online travel agency. Sabre formed a joint venture with Abacus International in 1998 to create SabreSonic, a customized version of Sabre's reservations system to Abacus subscribers in Asia.
2000 to present
In 2000, Sabre Corporation was spun off of AMR Corporation to form an independent company. The following year, Electronic Data Systems (EDS) purchased Sabre Holdings' airline hardware and communications business, and Sabre began migrating its old mainframe for air travel shopping and pricing to HP NonStop and Linux servers. In 2005, the company acquired lastminute.com, an online travel and leisure retailer.
Sabre Corporation was acquired by Texas Pacific Group and Silver Lake Partners in March 2007. In March 2010, the company acquired Calidris, a revenue integrity and business intelligence company. Sabre Corporation acquired SoftHotel, a web-based property management provider, in June 2011. The company launched Sabre Red App Centre in March 2012. In April 2014, Sabre Corporation went public on NASDAQ under the ticker symbol SABR. The IPO sold for $16 per share and valued Sabre at $3.93 billion. The company acquired Genares, a hospitality technology company, that September.
In December 2014, Bravofly Rumbo Group acquired Sabre European Online Travel Agency, lastminute.com. In January 2015, Sabre sold its Travelocity brand to Expedia, Inc. for $280 million. In July 2015, Sabre acquired Abacus International, a global distribution system based in the Asia-Pacific region. The deal included long-term distribution agreements between Sabre and the 11 Asian airlines that previously shared ownership of Abacus. In June 2016, Sabre announced Tom Klein would resign as CEO by the end of 2016.
In October 2019 Sabre announced its purchase of Radixx for $110M. Radixx is a seller of passenger service software to small and budget airlines. Sabre expects Radixx to generate $20 million in 2019. In October 2021, Sabre announced the sale of the AirCentre portfolio to CAE Inc for $392.5M.
In May 2022 Sabre announced its purchase of Nuvola, a provider of hotel and service optimization software. In August 2022, it acquired Conferma Pay, a UK-based payments company. In March 2023, Sabre announced some executive changes as part of what it called its "long-term succession plan." The changes included Sean Menke transitioning to be sole Executive Chair effective April 27. At the same time, Kurt Ekert, who served as the president of Sabre, took over as CEO.
In 2025, Sabre entered into a multi-year $1.56 billion partnership with Coforge, an Indian IT company. It also sold its Hospitality Solutions division to TPG Inc.
In 2026, the company went through a rebranding. This consisted in a new logo along with a new color scheme, with orange replacing the classical red.
Operations
The company is based in Southlake, Texas and has additional offices in London, Kraków, Bangalore, Montevideo and Singapore. As of 2024, Sabre connects travel agents to over 420 airlines including 150+ low-cost carriers, more than 2 million lodging options, 40+ car rental brands across 40,000 locations, and 30+ rail operators. Travel agents access this content via Sabre Mosaic Marketplace. Sabre operates Sabre Travel Solutions.
Acquisitions
Preview Travel (2000)
Dillion Communication Systems (2000)
Gradient Solutions (2000)
GetThere (2000)
Sabre Pacific (2001)
Nexion Inc. (2003)
David R. Bornemann Associates (2001)
Site59 (2001)
Resfeber Scandinavia (2002)
Kiehl Hendrickson Group (2002)
axsResource Airport Resource Management Solutions (2003)
World Choice Travel (2003)
RM Rocade (2004)
Showtickets.com (2004)
SynXis Corporation (2004)
Southwest Travel Systems (2005)
IgoUgo.com (2005)
Lastminute.com (2005)
E-site Marketing (2007)
Flight Explorer (2008)
EB2 (2008)
Calidris (2010)
Flightline Data Services (2010)
f:wz (2010)
SoftHotel (2011)
Prism (2012)
Genares (2014)
Abacus International (2015)
Trust International (2015)
Airpas Aviation (2016)
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SABR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 1.15Y avg ≈-2.8 | ≈-2.8 | · | · | |
| P/S (TTM) | 0.35Y avg ≈0.8 | ≈0.8 | 1.5 | Undervalued | |
| P/B (MRQ) | -0.85Y avg ≈-2.1 | ≈-2.1 | · | · | |
| EV / EBITDA | 14.95Y avg ≈25.1 | ≈25.1 | 12.5 | Overvalued | |
| Price / FCF (TTM) | -48.55Y avg ≈-34.4 | ≈-34.4 | · | · | |
| Price / Cash Flow (TTM) | 10.65Y avg ≈6.1 | ≈6.1 | · | · | |
| EV / Revenue | 1.65Y avg ≈2.4 | ≈2.4 | · | · | |
| EV / FCF | -23.05Y avg ≈-132.9 | ≈-132.9 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SABR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 11.2%5Y avg ≈-5.6% | ≈-5.6% | 9.5% | Top tier | |
| EBITDA Margin | 10.7%5Y avg ≈-5.6% | ≈-5.6% | 6.0% | Top tier | |
| Pretax Margin (TTM) | -4.8%5Y avg ≈-21.4% | ≈-21.4% | -1.5% | Below avg | |
| Net Profit Margin (TTM) | 25.8%5Y avg ≈-16.1% | ≈-16.1% | -0.71% | Weak | |
| ROA (TTM) | 16.3%5Y avg ≈-6.1% | ≈-6.1% | -3.1% | Top tier | |
| ROE (TTM) | -50.2%5Y avg ≈58.4% | ≈58.4% | -9.2% | Weak | |
| ROIC | 9.5%5Y avg ≈-0.62% | ≈-0.62% | 11.5% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | SABR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | -4.15Y avg ≈-5.2 | ≈-5.2 | -2.6 | Low debt | |
| Current Ratio (MRQ) | 1.05Y avg ≈1.4 | ≈1.4 | 0.9 | In line | |
| Quick Ratio | 0.95Y avg ≈1.2 | ≈1.2 | 0.7 | Strong liquidity | |
| Long-Term Debt / Equity (MRQ) | -3.95Y avg ≈-5.1 | ≈-5.1 | -2.5 | Low debt |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | SABR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 0.95%5Y avg ≈17.2% | ≈17.2% | · | · | |
| Revenue CAGR 3Y | 3.0%5Y avg ≈15.4% | ≈15.4% | · | · | |
| Revenue CAGR 5Y | 15.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | SABR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.65Y avg ≈0.5 | ≈0.5 | 0.6 | In line | |
| Receivables Turnover | 9.35Y avg ≈8.3 | ≈8.3 | · | · | |
| Revenue / Employee | ≈$595.9K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Mar 19, 2020 | $0.14 | USD | ≈14.7% |
| Dec 19, 2019 | $0.14 | USD | ≈2.5% |
| Sep 19, 2019 | $0.14 | USD | ≈2.4% |
| Jun 20, 2019 | $0.14 | USD | ≈2.4% |
| Mar 20, 2019 | $0.14 | USD | ≈2.6% |
| Dec 20, 2018 | $0.14 | USD | ≈2.6% |
| Sep 20, 2018 | $0.14 | USD | ≈2.2% |
| Jun 20, 2018 | $0.14 | USD | ≈2.2% |
| Mar 20, 2018 | $0.14 | USD | ≈2.5% |
| Dec 20, 2017 | $0.14 | USD | ≈2.7% |
| Sep 20, 2017 | $0.14 | USD | ≈3.0% |
| Jun 19, 2017 | $0.14 | USD | ≈2.4% |
| Mar 17, 2017 | $0.14 | USD | ≈2.4% |
| Dec 19, 2016 | $0.13 | USD | ≈2.0% |
| Sep 19, 2016 | $0.13 | USD | ≈1.8% |
| Jun 17, 2016 | $0.13 | USD | ≈1.6% |
| Mar 17, 2016 | $0.13 | USD | ≈1.5% |
| Dec 17, 2015 | $0.09 | USD | ≈1.3% |
| Sep 17, 2015 | $0.09 | USD | ≈1.3% |
| Jun 17, 2015 | $0.09 | USD | ≈1.5% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 5, 2026 | $-0.17 | $-0.04 | -316.7% |
| March 31, 2026 | $0.06 | $-0.03 | 296.1% | |
| Dec. 31, 2025 | $-0.01 | $-0.07 | 86.0% | |
| Sept. 30, 2025 | $-0.01 | $0.04 | -122.6% | |
| June 30, 2025 | $-0.02 | $-0.00 | — | |
| March 31, 2025 | $0.00 | $0.01 | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.77B | $2.74B | $2.64B | $2.54B | $1.69B | $1.33B | $3.97B | $3.87B | $3.60B | $3.37B | $2.96B | $2.63B | |
| Cost of Revenue | $1.21B | $1.15B | $1.08B | $1.04B | $691M | $579M | $1.73B | $1.65B | $2.51B | $2.29B | $1.94B | $1.74B | |
| SG&A Expense | $557M | $576M | $583M | $661M | $610M | $586M | $600M | $552M | $510M | $626M | $557M | $468M | |
| Operating Income | $295M | $242M | $32M | $-261M | $-665M | $-988M | $363M | $562M | $493M | $460M | $460M | $421M | |
| Interest Expense | · | · | $448M | $295M | $258M | $226M | $156M | $157M | $154M | $158M | $173M | $219M | |
| Other Non-op | $391.0K | $-21M | $13M | $137M | $-2M | $-67M | $-9M | $-9M | $37M | $28M | $-106M | $-304M | |
| Pretax Income | $-239M | $-267M | $-458M | $-423M | $-938M | $-1.30B | $200M | $398M | $378M | $328M | $354M | $117M | |
| Income Tax | $16M | $4M | $34M | $9M | $-15M | $-21M | $35M | $57M | $128M | $87M | $119M | $6M | |
| Net Income | $525M | $-279M | $-528M | $-435M | $-928M | $-1.28B | $159M | $338M | $243M | $243M | $549M | $69M | |
| EPS (Basic) | $1.34 | $-0.73 | $-1.56 | $-1.40 | $-2.96 | $-4.45 | $0.57 | $1.23 | $0.87 | $0.87 | $2.00 | $0.24 | |
| EPS (Diluted) | $1.34 | $-0.73 | $-1.56 | $-1.40 | $-2.96 | $-4.45 | $0.57 | $1.22 | $0.87 | $0.86 | $1.95 | $0.23 | |
| Shares (Basic) | 391,707,000 | 383,733,000 | 346,567,000 | 326,742,000 | 320,922,000 | 289,855,000 | 274,168,000 | 275,235,000 | 276,893,000 | 277,546,000 | 273,139,000 | 238,633,000 | |
| Shares (Diluted) | 391,707,000 | 383,733,000 | 346,567,000 | 326,742,000 | 320,922,000 | 289,855,000 | 276,217,000 | 277,518,000 | 278,320,000 | 282,752,000 | 280,067,000 | 246,747,000 | |
| EBITDA | $295M | $286M | $47M | $-261M | $-665M | $-988M | $674M | $866M | $758M | $693M | $673M | $421M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $792M | $724M | $648M | $795M | $978M | $1.50B | $436M | $509M | $361M | $364M | $321M | $156M | |
| Receivables | $312M | $287M | $343M | $354M | $260M | $255M | $547M | $508M | $491M | $401M | $376M | $363M | |
| Prepaid Expense | $74M | $77M | $146M | $192M | $122M | $133M | $139M | $170M | $109M | $89M | $81M | $65M | |
| Current Assets | $1.30B | $1.16B | $1.16B | $1.36B | $1.40B | $1.89B | $1.12B | $1.19B | $961M | $853M | $778M | $696M | |
| PP&E (Net) | · | · | · | · | · | · | $642M | $790M | $799M | $753M | $628M | $551M | |
| PP&E (Gross) | · | · | · | · | · | · | $2.46B | $2.32B | $2.04B | $1.74B | $1.48B | $1.34B | |
| Accum. Depreciation | · | · | · | · | $1.91B | $2.00B | $1.82B | $1.52B | $1.24B | $987M | $851M | $792M | |
| Goodwill | $2.38B | $2.38B | $2.38B | $2.54B | $2.47B | $2.64B | $2.63B | $2.55B | $2.55B | $2.55B | $2.44B | $2.15B | |
| Intangibles | $285M | $315M | $376M | $410M | $441M | $511M | $574M | $613M | $683M | $775M | $837M | $480M | |
| Other Non-current Assets | $255M | $273M | $317M | $358M | $475M | $630M | $670M | $611M | $592M | $673M | $642M | $485M | |
| Total Assets | $4.50B | $4.63B | $4.67B | $4.96B | $5.29B | $6.08B | $5.69B | $5.81B | $5.65B | $5.72B | $5.39B | $4.64B | |
| Accounts Payable | $260M | $243M | $232M | $171M | $123M | $115M | $187M | $165M | $163M | $169M | $138M | $118M | |
| Short-term Debt | · | · | · | · | · | · | $82M | $68M | $57M | $169M | $191M | $22M | |
| Current Liabilities | $1.21B | $1.14B | $915M | $816M | $717M | $622M | $1.03B | $1.02B | $972M | $1.17B | $1.00B | $897M | |
| Capital Leases | $45M | $53M | $56M | $68M | $79M | $97M | $50M | $0 | · | · | · | · | |
| Deferred Tax | $37M | $30M | $31M | $39M | $38M | $72M | $107M | $136M | $100M | $89M | $84M | $8M | |
| Other Non-current Liabilities | $173M | $204M | $259M | $264M | $297M | $381M | $348M | $340M | $480M | $567M | $656M | $614M | |
| Long-term Debt | $4.35B | $5.07B | $4.83B | $4.74B | $4.75B | $4.74B | $3.34B | $3.41B | $3.46B | $3.45B | $3.36B | $3.06B | |
| Total Debt | $4.35B | $5.07B | $4.83B | $4.74B | $4.75B | $4.67B | $3.34B | $3.41B | $3.46B | $3.45B | $3.36B | $3.06B | |
| Common Stock | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Paid-in Capital | $3.35B | $3.30B | $3.25B | $3.20B | $3.12B | $2.99B | $2.32B | $2.24B | $2.17B | $2.11B | $2.02B | $1.93B | |
| Retained Earnings | $-3.80B | $-4.33B | $-4.05B | $-3.51B | $-3.05B | $-2.10B | $-763M | $-769M | $-1.05B | $-1.14B | $-1.33B | $-1.78B | |
| Treasury Stock | $537M | $527M | $520M | $514M | $498M | $475M | $469M | $378M | $342M | $222M | $111M | $5M | |
| AOCI | $-67M | $-74M | $-74M | $-66M | $-80M | $-136M | $-149M | $-133M | $-88M | $-123M | $-97M | $-70M | |
| Stockholders' Equity | $-1.04B | $-1.60B | $-1.38B | $-873M | $-500M | $285M | $948M | $974M | $698M | $626M | $484M | $84M | |
| Liabilities + Equity | $4.50B | $4.63B | $4.67B | $4.96B | $5.29B | $6.08B | $5.69B | $5.81B | $5.65B | $5.72B | $5.39B | $4.64B | |
| Shares Outstanding | 395,004,000 | 414,753,676 | 405,914,663 | 353,436,503 | 346,430,421 | 338,661,960 | 294,319,417 | 275,352,000 | 274,342,000 | 276,949,802 | 274,955,830 | 267,800,161 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $106M | $110M | $121M | $185M | $262M | $364M | $311M | $304M | $265M | $233M | $214M | $158M | |
| Stock-based Comp | $46M | $49M | $47M | $83M | $121M | $70M | $67M | $57M | $45M | $49M | $30M | $20M | |
| Deferred Tax | $5M | $-2M | $19M | $-17M | $-28M | $-27M | $-23M | $43M | $49M | $48M | $97M | $-4M | |
| Amort. of Intangibles | $31M | $33M | $33M | $51M | $64M | $66M | $65M | $68M | $96M | $143M | $107M | $96M | |
| Restructuring | $51M | $19M | $64M | $14M | $-8M | $86M | $0 | $0 | $24M | $18M | $9M | $10M | |
| Other Non-cash | · | · | · | · | · | · | $68M | $-17M | $72M | $127M | $-357M | · | |
| Operating Cash Flow | $-109M | $70M | $67M | $-276M | $-415M | $-770M | $581M | $725M | $678M | $699M | $529M | $388M | |
| CapEx | $83M | $80M | $81M | $69M | $54M | $65M | $115M | $284M | $316M | $328M | $287M | $227M | |
| Investing Cash Flow | · | $-30M | $-110M | $174M | $-29M | $-1M | $-243M | $-275M | $-318M | $-446M | · | · | |
| Stock Issued | · | · | · | $0 | $0 | $275M | $0 | $0 | · | · | · | · | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $78M | $26M | $109M | $100M | $99M | $0 | |
| Net Stock Activity | · | · | · | $0 | $0 | $275M | $-78M | $-26M | $-109M | $-100M | $-99M | · | |
| Dividends Paid | · | · | · | $0 | $0 | $39M | $154M | $154M | $155M | $144M | $99M | $48M | |
| Financing Cash Flow | $-686M | $40M | $-94M | $-75M | $-51M | $1.84B | $-410M | $-307M | $-357M | $-190M | · | · | |
| Net Change in Cash | $165M | $76M | $-147M | $-183M | $-500M | $1.06B | $-73M | $148M | $-3M | $43M | $165M | $-153M | |
| Taxes Paid | $15M | $18M | $24M | $16M | $15M | $25M | $55M | $58M | $40M | $39M | $28M | $48M | |
| Free Cash Flow | $-192M | $-14M | $-31M | $-346M | $-469M | $-836M | $466M | $441M | $362M | $372M | $243M | $160M | |
| Levered FCF | · | · | $-511M | $-647M | $-723M | $-1.06B | $337M | $306M | $260M | $255M | $128M | $-47M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.7% | 9.4% | 1.6% | -10.3% | -39.4% | -74.1% | 9.1% | 14.5% | 13.7% | 13.6% | 15.5% | 16.0% | |
| Net Margin | 18.9% | -9.2% | -18.1% | -17.2% | -55.0% | -95.4% | 4.0% | 8.7% | 6.9% | 7.2% | 18.4% | 2.6% | |
| Pretax Margin | -8.6% | -9.3% | -17.0% | -16.7% | -55.6% | -98.5% | 5.0% | 10.3% | 10.5% | 9.7% | 11.9% | 4.5% | |
| EBITDA Margin | 10.7% | 9.4% | 1.6% | -10.3% | -39.4% | -74.1% | 17.0% | 22.4% | 21.1% | 20.5% | 22.7% | 16.0% | |
| ROA | 11.5% | -6.0% | -10.9% | -8.5% | -16.3% | -21.6% | 2.8% | 5.9% | 4.3% | 4.4% | 10.9% | 1.5% | |
| ROE | -36.9% | 17.7% | 39.7% | 54.3% | 217.2% | -270.6% | 16.7% | 35.3% | 37.4% | 43.7% | 191.9% | -16.0% | |
| ROIC | 9.5% | 8.2% | 1.5% | -6.9% | -15.4% | -19.1% | 7.0% | 11.0% | 7.8% | 8.3% | 7.9% | 12.7% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.0 | 1.3 | 1.7 | 2.0 | 3.0 | 1.1 | 1.2 | 1.0 | 0.7 | 0.8 | 1.0 | |
| Quick Ratio | 0.9 | 0.9 | 1.1 | 1.4 | 1.7 | 2.8 | 1.0 | 1.0 | 0.9 | 0.7 | 0.7 | 0.6 | |
| Debt / Equity | -4.2 | -3.2 | -3.5 | -5.4 | -9.5 | 12.9 | 3.5 | 3.5 | 4.9 | 5.5 | 6.9 | 36.3 | |
| LT Debt / Equity | -4.0 | -3.0 | -3.5 | -5.4 | -9.5 | 12.8 | 3.4 | 3.4 | 4.9 | 5.2 | 6.5 | 36.3 | |
| Interest Coverage | · | · | 0.1 | -0.9 | -2.6 | -4.2 | 2.3 | 3.6 | 3.2 | 2.9 | 2.7 | 1.9 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.6 | 0.5 | 0.3 | 0.2 | 0.7 | 0.7 | 0.6 | 0.6 | 0.6 | 0.6 | |
| Receivables Turnover | 9.3 | 8.9 | 8.3 | 8.3 | 6.6 | 3.3 | 7.5 | 7.7 | 8.1 | 8.7 | 8.0 | 6.9 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-2.62 | $-4.16 | $-3.62 | $-2.66 | $-1.54 | $1.14 | $3.46 | $3.54 | $2.55 | $2.26 | $1.76 | $0.32 | |
| Revenue / Share | $7.07 | $7.89 | $8.39 | $7.76 | $5.26 | $4.60 | $14.39 | $13.93 | $12.93 | $11.93 | $10.57 | $10.66 | |
| Cash Flow / Share | $-0.28 | $0.18 | $0.16 | $-0.85 | $-1.29 | $-2.66 | $2.10 | $2.61 | $2.44 | $2.47 | $1.89 | $1.57 | |
| Cash / Share | $2.00 | $1.88 | $1.71 | $2.42 | $3.02 | $4.73 | $1.59 | $1.85 | $1.32 | $1.31 | $1.17 | $0.58 | |
| Dividend / Share | · | · | · | $0.00 | $0.00 | $0.14 | $0.56 | $0.56 | $0.56 | · | · | · | |
| Dividend Paid / Share | · | · | · | · | · | $0.14 | $0.14 | $0.14 | $0.14 | $0.13 | $0.09 | · | |
| EPS (TTM) | $1.34 | $-0.73 | $-1.56 | $-1.40 | $-2.96 | $-4.45 | $0.57 | $1.22 | $0.87 | $0.86 | $1.95 | $0.23 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.95% | 3.9% | 4.1% | 50.2% | 26.6% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 3.0% | 17.6% | 25.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 15.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.77B | $2.74B | $2.64B | $2.54B | $1.69B | $1.33B | $3.97B | $3.87B | $3.60B | $3.37B | $2.96B | $2.63B | |
| Net Income TTM | $525M | $-279M | $-528M | $-435M | $-928M | $-1.28B | $159M | $338M | $243M | $243M | $549M | $69M | |
| Market Cap | $537M | $1.41B | $1.67B | $2.03B | $2.78B | $3.81B | $6.14B | $5.96B | $5.62B | $6.91B | $7.69B | $5.43B | |
| Enterprise Value | $4.10B | $5.75B | $5.86B | $5.98B | $6.55B | $6.98B | $9.05B | $8.86B | $8.72B | $9.99B | $10.73B | $8.33B | |
| P/E | 1.0 | -5.0 | -2.8 | -4.4 | -2.9 | -2.7 | 39.4 | 17.7 | 23.6 | 29.0 | 14.3 | 88.1 | |
| P/S | 0.2 | 0.5 | 0.6 | 0.8 | 1.6 | 2.9 | 1.5 | 1.5 | 1.6 | 2.0 | 2.6 | 2.1 | |
| P/B | -0.5 | -0.9 | -1.2 | -2.3 | -5.6 | 10.5 | 6.5 | 6.1 | 8.1 | 11.0 | 15.9 | 64.3 | |
| P / Cash Flow | -4.9 | 20.0 | 29.7 | -7.3 | -6.7 | -5.0 | 10.6 | 8.2 | 8.3 | 9.9 | 14.5 | 14.0 | |
| P / FCF | -2.8 | -103.9 | -53.6 | -5.9 | -5.9 | -4.6 | 13.2 | 13.5 | 15.6 | 18.6 | 31.7 | 33.8 | |
| EV / EBITDA | 13.9 | 20.1 | 124.2 | -22.9 | -9.8 | -7.1 | 13.4 | 10.2 | 11.5 | 14.4 | 15.9 | 19.8 | |
| EV / FCF | -21.4 | -424.2 | -187.8 | -17.3 | -14.0 | -8.4 | 19.4 | 20.1 | 24.1 | 26.9 | 44.2 | 51.9 | |
| EV / Revenue | 1.5 | 2.1 | 2.2 | 2.4 | 3.9 | 5.2 | 2.3 | 2.3 | 2.4 | 3.0 | 3.6 | 3.2 | |
| Dividend Yield | · | · | · | 0.00% | 0.00% | 1.0% | 2.5% | 2.6% | 2.8% | 2.1% | 1.3% | 0.88% | |
| Earnings Yield | 98.5% | -20.0% | -35.4% | -22.7% | -34.5% | -37.0% | 2.5% | 5.6% | 4.2% | 3.5% | 7.0% | 1.1% | |
| Payout Ratio | · | · | · | 0.00% | 0.00% | -3.0% | 96.8% | 45.6% | 62.5% | 59.5% | 18.1% | 69.2% | |
| Annual Payout | · | · | · | $0 | $0 | $39M | $154M | $154M | $155M | $144M | $99M | $48M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $712M | $760M | $592M | $715M | $687M | $702M | $576M | $691M | $695M | $783M | $421M | $740M | $738M | $743M | $631M | $663M | |
| Cost of Revenue | $310M | $335M | $264M | $313M | $296M | $305M | $237M | $295M | $293M | $321M | $159M | $294M | $316M | $307M | $269M | $274M | |
| SG&A Expense | $138M | $134M | $144M | $140M | $129M | $130M | $131M | $149M | $154M | $141M | $89M | $151M | $179M | $164M | $145M | $172M | |
| Operating Income | $93M | $116M | $9M | $94M | $89M | $91M | $37M | $58M | $49M | $98M | $22M | $52M | $-42M | $-213.0K | $-55M | $-57M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $125M | · | $119M | $106M | $100M | · | $77M | |
| Other Non-op | $6M | $7M | $-7M | $7M | $-3M | $3M | $-19M | $-327.0K | $3M | $-4M | $5M | $-12M | $17M | $2M | $-3M | $-8M | |
| Pretax Income | $-25M | $-2M | $-98M | $-10M | $-110M | $-15M | $-80M | $-55M | $-64M | $-68M | $-43M | $-199M | $-118M | $-97M | $-148M | $-141M | |
| Income Tax | $12M | $-11M | $41M | $-59M | $91M | $-12M | $-12M | $7M | $6M | $3M | $17M | $8M | $6M | $2M | $11M | $-7M | |
| Net Income | $-36M | $8M | $-103M | $848M | $-257M | $36M | $-75M | $-63M | $-69M | $-71M | $-96M | $-208M | $-124M | $-99M | $-160M | $-135M | |
| EPS (Basic) | $-0.09 | $0.02 | $-0.25 | $2.15 | $-0.65 | $0.09 | $-0.20 | $-0.16 | $-0.18 | $-0.19 | $-0.24 | $-0.61 | $-0.39 | $-0.32 | $-0.51 | $-0.43 | |
| EPS (Diluted) | $-0.09 | $0.02 | $-0.08 | $1.98 | $-0.65 | $0.09 | $-0.20 | $-0.16 | $-0.18 | $-0.19 | $-0.24 | $-0.61 | $-0.39 | $-0.32 | $-0.50 | $-0.43 | |
| Shares (Basic) | 399,351,000 | 395,154,000 | · | 394,580,000 | 390,905,000 | 386,271,000 | · | 385,729,000 | 383,506,000 | 379,774,000 | · | 345,128,000 | 332,147,000 | 328,928,000 | · | 328,228,000 | |
| Shares (Diluted) | 399,351,000 | 397,564,000 | · | 429,253,000 | 390,905,000 | 386,271,000 | · | 385,729,000 | 383,506,000 | 379,774,000 | · | 345,128,000 | 332,147,000 | 328,928,000 | · | 328,228,000 | |
| EBITDA | $93M | $116M | · | $94M | $89M | $103M | · | $70M | $61M | $98M | · | $52M | $-42M | $-213.0K | · | $-57M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $676M | $644M | $792M | $662M | $426M | $651M | $724M | $669M | $613M | $629M | · | $602M | $706M | $817M | · | $783M | |
| Receivables | $378M | $367M | $312M | $380M | $329M | $397M | $287M | $409M | $376M | $411M | · | $393M | $441M | $414M | · | $401M | |
| Prepaid Expense | $93M | $102M | $74M | $95M | $105M | $155M | $77M | $97M | $156M | $165M | · | $180M | $177M | $190M | · | $188M | |
| Current Assets | $1.17B | $1.13B | $1.30B | $1.16B | $953M | $1.22B | $1.16B | $1.20B | $1.17B | $1.23B | · | $1.20B | $1.35B | $1.44B | · | $1.39B | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1.96B | |
| Goodwill | $2.38B | $2.38B | $2.38B | $2.38B | $2.39B | $2.55B | $2.38B | $2.56B | $2.55B | $2.55B | $2.38B | $2.55B | $2.56B | $2.54B | $2.54B | $2.53B | |
| Intangibles | · | · | $285M | · | · | · | $315M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $253M | $250M | $255M | $261M | $262M | $295M | $273M | $309M | $307M | $313M | · | $322M | $337M | $348M | · | $386M | |
| Total Assets | $4.37B | $4.33B | $4.50B | $4.37B | $4.42B | $4.68B | $4.63B | $4.69B | $4.67B | $4.74B | · | $4.74B | $4.92B | $5.03B | · | $5.02B | |
| Accounts Payable | $220M | $208M | $260M | $219M | $247M | $259M | $243M | $244M | $237M | $250M | · | $215M | $217M | $192M | · | $135M | |
| Current Liabilities | $1.14B | $1.23B | $1.21B | $1.02B | $947M | $1.12B | $1.14B | $1.17B | $1.09B | $893M | · | $908M | $899M | $864M | · | $738M | |
| Capital Leases | · | · | $45M | · | · | · | $53M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | $38M | $36M | $37M | $41M | $59M | $22M | $30M | $31M | $28M | $28M | · | $29M | $28M | $28M | · | $27M | |
| Other Non-current Liabilities | $174M | $173M | $173M | $190M | $195M | $201M | $204M | $229M | $240M | $249M | · | $256M | $269M | $252M | · | $268M | |
| Long-term Debt | $4.32B | $4.27B | $4.35B | $4.22B | $5.04B | $5.12B | $5.07B | $5.04B | $5.01B | $4.99B | · | $4.82B | $4.80B | $4.86B | · | $4.74B | |
| Total Debt | $4.32B | $4.27B | · | $4.22B | $5.04B | $5.12B | · | $5.04B | $5.01B | $4.99B | · | $4.82B | $4.80B | $4.85B | · | $4.74B | |
| Common Stock | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | · | $4M | $4M | $4M | · | $4M | |
| Paid-in Capital | $3.36B | $3.35B | $3.35B | $3.34B | $3.33B | $3.32B | $3.30B | $3.29B | $3.28B | $3.26B | · | $3.24B | $3.22B | $3.22B | · | $3.19B | |
| Retained Earnings | $-3.83B | $-3.79B | $-3.80B | $-3.70B | $-4.55B | $-4.29B | $-4.33B | $-4.25B | $-4.19B | $-4.12B | · | $-3.95B | $-3.74B | $-3.61B | · | $-3.34B | |
| Treasury Stock | $543M | $537M | $537M | $537M | $537M | $529M | $527M | $527M | $527M | $522M | · | $520M | $520M | $520M | · | $514M | |
| AOCI | $-66M | $-67M | $-67M | $-74M | $-70M | $-75M | $-74M | $-73M | $-69M | $-70M | · | $-64M | $-63M | $-64M | · | $-77M | |
| Stockholders' Equity | $-1.06B | $-1.03B | $-1.04B | $-951M | $-1.80B | $-1.56B | $-1.60B | $-1.54B | $-1.49B | $-1.43B | $-1.38B | $-1.28B | $-1.08B | $-965M | $-873M | $-732M | |
| Liabilities + Equity | $4.37B | $4.33B | $4.50B | $4.37B | $4.42B | $4.68B | $4.63B | $4.69B | $4.67B | $4.74B | · | $4.74B | $4.92B | $5.03B | · | $5.02B | |
| Shares Outstanding | 403,568,000 | 395,311,000 | 395,004,000 | 394,879,000 | 394,498,000 | 387,662,000 | 385,932,000 | 385,831,000 | 385,663,000 | 381,610,000 | 405,914,663 | 379,458,000 | 332,297,000 | 331,909,000 | 353,436,503 | 328,327,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $27M | $26M | $28M | $27M | $21M | $25M | $11M | $33M | $31M | $34M | $7M | $37M | $37M | $40M | $42M | $43M | |
| Stock-based Comp | $21M | $6M | $11M | $11M | $10M | $12M | $12M | $10M | $9M | $14M | $8M | $13M | $9M | $17M | $13M | $16M | |
| Deferred Tax | $5M | $-2M | $-2M | $-26M | $47M | $-5M | $4M | $797.0K | $33.0K | $-6M | $21M | $16M | $485.0K | $-19M | $2M | $-10M | |
| Restructuring | $3M | $9M | $62M | · | · | · | · | $199.0K | · | · | · | $0 | $83M | $-319.0K | · | $10M | |
| Operating Cash Flow | $36M | $-134M | $139M | $34M | $-201M | $-64M | $76M | $34M | $38M | $-68M | $107M | $59M | $-27M | $-72M | $38M | $-102M | |
| CapEx | $26M | $21M | $23M | $20M | $21M | $17M | $15M | $17M | $18M | $28M | $12M | $20M | $30M | $18M | $16M | $20M | |
| Investing Cash Flow | · | · | · | · | · | $-8M | · | $35M | $-20M | $-28M | · | $-19M | $-43M | $-18M | $-12M | $-86M | |
| Financing Cash Flow | $23M | $-92M | $119M | $-839M | $21M | $13M | $-6M | $-8M | $-24M | $78M | $-22M | $-143M | $-42M | $112M | $-14M | $-21M | |
| Net Change in Cash | $32M | $-246M | $227M | $236M | $-225M | $-73M | $56M | $56M | $-17M | $-19M | $47M | $-105M | $-111M | $22M | $12M | $-209M | |
| Free Cash Flow | · | $-155M | · | · | · | $-98M | · | · | · | $-96M | · | · | · | $-91M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-226M | · | · | · | $-193M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.0% | 15.2% | · | 13.1% | 13.0% | 13.3% | · | 9.2% | 7.9% | 12.5% | · | 7.0% | -5.7% | -0.03% | · | -8.5% | |
| Net Margin | -5.1% | 1.1% | · | 118.6% | -37.3% | 4.6% | · | -8.2% | -9.1% | -9.1% | · | -28.1% | -16.8% | -13.3% | · | -20.4% | |
| Pretax Margin | -3.5% | -0.26% | · | -1.5% | -16.0% | -2.8% | · | -7.3% | -8.4% | -8.7% | · | -26.9% | -16.0% | -13.1% | · | -21.3% | |
| EBITDA Margin | 13.0% | 15.2% | · | 13.1% | 13.0% | 13.3% | · | 9.2% | 7.9% | 12.5% | · | 7.0% | -5.7% | -0.03% | · | -8.5% | |
| ROA | -0.82% | 0.18% | · | 18.7% | -5.7% | 0.76% | · | -1.3% | -1.5% | -1.5% | · | -4.3% | -2.5% | -1.9% | · | -2.6% | |
| ROE | 2.5% | -0.62% | · | -68.0% | 15.6% | -2.4% | · | 4.5% | 5.4% | 6.0% | · | 20.7% | 14.7% | 14.1% | · | 24.9% | |
| ROIC | 4.2% | -16.8% | · | -13.3% | 5.1% | -4.8% | · | 2.2% | 1.9% | 2.9% | · | 1.5% | -1.2% | -0.01% | · | -1.3% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 0.9 | · | 1.1 | 1.0 | 1.1 | · | 1.0 | 1.1 | 1.4 | · | 1.3 | 1.5 | 1.7 | · | 1.9 | |
| Quick Ratio | 0.9 | 0.8 | · | 1.0 | 0.8 | 0.9 | · | 0.9 | 0.9 | 1.2 | · | 1.1 | 1.3 | 1.4 | · | 1.6 | |
| Debt / Equity | -4.1 | -4.2 | · | -4.4 | -2.8 | -3.3 | · | -3.3 | -3.4 | -3.5 | · | -3.8 | -4.4 | -5.0 | · | -6.5 | |
| LT Debt / Equity | -3.9 | -3.8 | · | -4.3 | -2.8 | -3.1 | · | -3.1 | -3.2 | -3.5 | · | -3.8 | -4.4 | -5.0 | · | -6.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 0.8 | · | 0.4 | -0.4 | -0.0 | · | -0.7 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 2.0 | 2.0 | · | 1.8 | 1.9 | 1.9 | · | 1.9 | 1.9 | 1.9 | · | 1.9 | 1.8 | 2.0 | · | 1.8 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-2.61 | $-2.59 | · | $-2.41 | $-4.57 | $-4.02 | · | $-4.00 | $-3.87 | $-3.75 | · | $-3.38 | $-3.26 | $-2.91 | · | $-2.23 | |
| Revenue / Share | $1.78 | $1.91 | · | $1.67 | $1.76 | $1.71 | · | $1.98 | $2.00 | $2.06 | · | $2.15 | $2.22 | $2.26 | · | $2.02 | |
| Cash Flow / Share | · | $-0.34 | · | · | · | $-0.18 | · | · | · | $-0.18 | · | · | · | $-0.22 | · | · | |
| Cash / Share | $1.68 | $1.63 | · | $1.68 | $1.08 | $1.68 | · | $1.73 | $1.59 | $1.65 | · | $1.59 | $2.13 | $2.46 | · | $2.38 | |
| EPS (TTM) | $1.83 | $1.27 | · | $1.22 | $-0.92 | $-0.45 | · | $-0.77 | $-1.22 | $-1.43 | · | $-1.82 | $-1.64 | $-1.84 | · | $-1.48 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.78B | $2.75B | · | $2.68B | $2.66B | $2.66B | · | $2.59B | $2.64B | $2.68B | · | $2.85B | $2.77B | $2.69B | · | $2.41B | |
| Net Income TTM | $717M | $497M | · | $552M | $-359M | $-172M | · | $-300M | $-445M | $-500M | · | $-591M | $-518M | $-582M | · | $-462M | |
| Market Cap | $843M | $573M | · | $723M | $1.25B | $1.09B | · | $1.42B | $1.03B | $923M | · | $1.70B | $1.06B | $1.42B | · | $1.69B | |
| Enterprise Value | $4.49B | $4.20B | · | $4.28B | $5.86B | $5.56B | · | $5.78B | $5.43B | $5.28B | · | $5.92B | $5.16B | $5.46B | · | $5.65B | |
| P/E | 1.1 | 1.1 | · | 1.5 | -3.4 | -6.2 | · | -4.8 | -2.2 | -1.7 | · | -2.5 | -1.9 | -2.3 | · | -3.5 | |
| P/S | 0.3 | 0.2 | · | 0.3 | 0.5 | 0.4 | · | 0.5 | 0.4 | 0.3 | · | 0.6 | 0.4 | 0.5 | · | 0.7 | |
| P/B | -0.8 | -0.6 | · | -0.8 | -0.7 | -0.7 | · | -0.9 | -0.7 | -0.6 | · | -1.3 | -1.0 | -1.5 | · | -2.3 | |
| P / Cash Flow | · | -4.3 | · | · | · | -13.5 | · | · | · | -13.6 | · | · | · | -19.7 | · | · | |
| EV / Revenue | 1.6 | 1.5 | · | 1.6 | 2.2 | 2.1 | · | 2.2 | 2.1 | 2.0 | · | 2.1 | 1.9 | 2.0 | · | 2.3 | |
| Dividend Yield | 0.00% | 0.00% | · | 0.00% | 0.00% | 0.00% | · | 0.00% | 0.00% | 0.00% | · | 0.00% | 0.00% | 0.00% | · | 0.00% | |
| Earnings Yield | 87.6% | 87.6% | · | 66.7% | -29.1% | -16.0% | · | -21.0% | -45.7% | -59.1% | · | -40.5% | -51.4% | -42.9% | · | -28.7% | |
| Annual Payout | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $2.77B | $2.74B | $2.64B | $2.54B | $1.69B |
| Operating Margin % | 10.7% | 9.4% | 1.6% | -10.3% | -39.4% |
| Net Income | $525M | $-279M | $-528M | $-435M | $-928M |
| Diluted EPS | $1.34 | $-0.73 | $-1.56 | $-1.40 | $-2.96 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | -4.2 | -3.2 | -3.5 | -5.4 | -9.5 |
| Current Ratio | 1.1 | 1.0 | 1.3 | 1.7 | 2.0 |
| Quick Ratio | 0.9 | 0.9 | 1.1 | 1.4 | 1.7 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-192M | $-14M | $-31M | $-346M | $-469M |
Institutional owners (13F) 283 filers · $792.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 39 (-18 vs prior Q) | 25 (-26 vs prior Q) | 90 (+19 vs prior Q) | 82 (-1 vs prior Q) | +13.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $114,424,774 | 54,748,696 | 14.44% | Shares |
| Arini Capital Management Ltd | $81,719,000 | 39,100,000 | 10.31% | Shares |
| Discerene Group LP | $77,560,801 | 37,110,431 | 9.79% | Shares |
| EARNEST PARTNERS LLC | $49,525,491 | 23,696,407 | 6.25% | Shares |
| VANGUARD GROUP INC | $37,808,220 | 27,800,161 | 4.77% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $32,214,723 | 15,413,743 | 4.07% | Shares |
| Apollo Management Holdings, L.P. | $30,097,712 | 14,400,819 | 3.80% | Shares |
| STATE STREET CORP | $28,850,224 | 13,803,935 | 3.64% | Shares |
| Erste Asset Management GmbH | $25,154,893 | 11,869,429 | 3.17% | Shares |
| OAK HILL ADVISORS LP | $21,270,095 | 10,177,079 | 2.68% | Shares |
| U S GLOBAL INVESTORS INC | $20,661,621 | 9,885,943 | 2.61% | Shares |
| UBS Group AG | $20,068,583 | 9,602,193 | 2.53% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $20,044,805 | 9,588,200 | 2.53% | Shares |
| Fundsmith LLP | $18,838,806 | 9,013,783 | 2.38% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $17,837,776 | 8,534,821 | 2.25% | Shares |
| Prescott Group Capital Management, L.L.C. | $15,468,882 | 7,401,379 | 1.95% | Shares |
| MORGAN STANLEY | $15,285,519 | 7,313,645 | 1.93% | Shares |
| GOLDMAN SACHS GROUP INC | $11,986,517 | 5,735,176 | 1.51% | Shares |
| NZS Capital, LLC | $11,518,243 | 5,511,121 | 1.45% | Shares |
| Saba Capital Management, L.P. | $9,844,546 | 4,710,309 | 1.24% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $8,137,724 | 3,893,648 | 1.03% | Shares |
| CIBC WORLD MARKETS CORP | $7,377,355 | 5,424,526 | 0.93% | Shares |
| NORTHERN TRUST CORP | $7,090,912 | 3,392,781 | 0.89% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,889,092 | 2,817,747 | 0.74% | Shares |
| Invesco Ltd. | $5,750,779 | 2,751,569 | 0.73% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,404,951 | 2,586,101 | 0.68% | Shares |
| Bank of New York Mellon Corp | $4,183,719 | 2,001,780 | 0.53% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,998,605 | 1,913,208 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,974,344 | 1,901,600 | 0.50% | Call option |
| Connor, Clark & Lunn Investment Management Ltd. | $3,442,690 | 1,647,220 | 0.43% | Shares |
| Public Sector Pension Investment Board | $2,831,963 | 1,355,006 | 0.36% | Shares |
| CITADEL ADVISORS LLC | $2,714,283 | 1,298,700 | 0.34% | Call option |
| WHITEBOX ADVISORS LLC | $2,646,732 | 1,266,379 | 0.33% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $2,535,184 | 1,213,007 | 0.32% | Shares |
| WELLS FARGO & COMPANY/MN | $2,502,622 | 1,197,427 | 0.32% | Shares |
| CastleKnight Management LP | $2,276,846 | 1,089,400 | 0.29% | Shares |
| Penn Capital Management Company, LLC | $2,271,193 | 1,086,695 | 0.29% | Shares |
| Delta Investment Management, LLC | $2,264,586 | 1,083,534 | 0.29% | Shares |
| WHITEBOX ADVISORS LLC | $2,090,000 | 1,000,000 | 0.26% | Call option |
| MILLENNIUM MANAGEMENT LLC | $2,090,000 | 1,000,000 | 0.26% | Call option |
| DIMENSIONAL FUND ADVISORS LP | $2,037,636 | 974,622 | 0.26% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,902,495 | 910,285 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $1,902,488 | 910,292 | 0.24% | Shares |
| Nuveen, LLC | $1,894,765 | 906,586 | 0.24% | Shares |
| CM Management, LLC | $1,881,000 | 900,000 | 0.24% | Shares |
| D. E. Shaw & Co., Inc. | $1,879,955 | 899,500 | 0.24% | Shares |
| FMR LLC | $1,754,717 | 839,577 | 0.22% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,522,887 | 728,654 | 0.19% | Shares |
| Voleon Capital Management LP | $1,342,840 | 642,507 | 0.17% | Shares |
| Legal & General Group Plc | $1,253,820 | 599,914 | 0.16% | Shares |
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| CONSTELLATION SOFTWARE INC, CONSTELLATION CANADIAN HOLDINGS INC., MARK MILLER | March 5, 2026 | 12.70% | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 51 insiders · 30 officers · 23 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kurt Joseph Ekert | CEO and President | May 15, 2026 A | 4,233,972 | 0 | 0 | $0 |
| Carl Sparks | EVP & CEO Travelocity | April 28, 2014 A | 274,931 | 0 | 0 | $0 |
| Michael O Randolfi | EVP and CFO | May 15, 2026 A | 1,475,842 | 0 | 0 | $0 |
| Douglas E Barnett | Executive Vice President, CFO | Aug. 15, 2022 F | 448,972 | 0 | 0 | $0 |
| Garry R Wiseman | President, Product/Engineering | May 15, 2026 A | 1,202,139 | 0 | 0 | $0 |
| Shawn G Williams | EVP & Chief Operating Officer | May 15, 2026 A | 1,353,394 | 0 | 0 | $0 |
| Andrew Finkelstein | EVP & Chief Commercial Officer | May 15, 2026 A | 413,431 | 0 | 0 | $0 |
| Jennifer Catto | EVP & Chief Marketing Officer | May 15, 2026 A | 1,054,354 | 0 | 0 | $0 |
| Rochelle Boas | EVP and Chief Legal Officer | May 15, 2026 A | 859,735 | 0 | 0 | $0 |
| Joe Difonzo | EVP & Chief Info. Officer | May 15, 2026 A | 1,072,488 | 0 | 0 | $0 |
| Jami Cordell | SVP & Chief Accounting Officer | May 15, 2026 F | 309,314 | 0 | 0 | $0 |
| Scott Albert Wilson | Executive Vice President | May 15, 2025 A | 900,766 | 0 | 0 | $0 |
| Roshan Mendis | Executive Vice President | May 15, 2025 A | 1,016,899 | 0 | 0 | $0 |
| Ann J. Bruder | EVP and Chief Legal Officer | May 15, 2024 F | 481,617 | 0 | 0 | $0 |
| Sean E Menke | Executive Chair of the Board | March 15, 2024 F | 1,626,464 | 0 | 0 | $0 |
| David D Moore | Executive Vice President | March 15, 2023 A | 352,743 | 0 | 0 | $0 |
| Chadwick Ho | EVP and Chief Legal Officer | Oct. 14, 2022 A | 277,264 | 0 | 0 | $0 |
| Cem Tanyel | Executive Vice President | June 15, 2022 F | 226,396 | 0 | 0 | $0 |
| Judson Wade Jones | Executive Vice President | June 15, 2022 F | 346,408 | 0 | 0 | $0 |
| David J Shirk | Executive Vice President | June 17, 2021 S | 228,579 | 0 | 0 | $0 |
| Kimberly Warmbier | EVP and Chief People Officer | March 15, 2020 F | 77,441 | 0 | 0 | $0 |
| Clinton Anderson | Executive Vice President | July 14, 2019 F | 102,474 | 0 | 0 | $0 |
| Richard A Simonson | Senior Advisor | April 23, 2019 M | 280,456 | 0 | 0 | $0 |
| Hugh W Jones | Executive Vice President | Aug. 4, 2017 M | 46,500 | 0 | 0 | $0 |
| William G Robinson Jr | Executive Vice President | March 28, 2017 S | 113,531 | 0 | 0 | $0 |
| Alexander S Alt | Executive Vice President | March 20, 2017 S | 27,805 | 0 | 0 | $0 |
| Deborah Kerr | Executive Vice President | March 15, 2017 F | 49,963 | 0 | 0 | $0 |
| Thomas Klein | Executive Officer | Dec. 31, 2016 A | 573,018 | 0 | 0 | $0 |
| Gregory T Webb | Vice Chairman | Oct. 25, 2016 M | 0 | 0 | 0 | $0 |
| Sterling L Miller | EVP,General Counsel,Secretary | April 17, 2014 A | · | 0 | 0 | $0 |
| Elaine Paul | Director | April 29, 2026 A | 197,369 | 0 | 0 | $0 |
| Phyllis Newhouse | Director | April 29, 2026 A | 309,676 | 0 | 0 | $0 |
| Ashan Willy | Director | April 29, 2026 A | 167,640 | 0 | 0 | $0 |
| Gail Mandel | Director | April 29, 2026 A | 320,418 | 0 | 0 | $0 |
| John M Scott III | Director | April 29, 2026 A | 321,943 | 0 | 0 | $0 |
| Eric Kelly | Director | April 29, 2026 A | 154,333 | 0 | 0 | $0 |
| George R Bravante Jr | Director | April 29, 2026 A | 360,918 | 0 | 0 | $0 |
| Herve Couturier | Director | April 29, 2026 A | 340,029 | 0 | 0 | $0 |
| Damian Kevin Mckay | Director | March 19, 2026 A | 142,349 | 0 | 0 | $0 |
| Wendi Christine Sturgis | Director | April 23, 2025 A | 199,179 | 0 | 0 | $0 |
| Karl Mr. Peterson | Director | June 7, 2024 S | 134,655 | 0 | 0 | $0 |
| Gregg A Saretsky | Director | April 24, 2024 A | 154,303 | 0 | 0 | $0 |
| Rachel A Gonzalez | Director | April 26, 2023 A | 114,519 | 0 | 0 | $0 |
| Zane Rowe | Director | April 26, 2023 A | 114,982 | 0 | 0 | $0 |
| Joseph Osnoss | Director | March 15, 2021 A | 28,475 | 0 | 0 | $0 |
| Renee Jo James | Director | March 15, 2021 A | 64,643 | 0 | 0 | $0 |
| John C Siciliano | Director | March 15, 2021 A | 38,975 | 0 | 0 | $0 |
| Gary M Kusin | Director | March 15, 2021 A | 78,704 | 0 | 0 | $0 |
| Judy C Odom | Director | March 15, 2021 A | 81,129 | 0 | 0 | $0 |
| Lawrence W Kellner | Director | March 30, 2020 A | 294,615 | 0 | 0 | $0 |
| CONSTELLATION SOFTWARE INC | 10% owner | Feb. 27, 2026 P | 50,157,523 | 1 | 0 | $12,336,254 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 26 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PSCD · Invesco Exchange-Traded Fund Trust … | 0.30% | 34,682 SH | Oct. 2, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.17% | 1,692,183 SH | Oct. 2, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.12% | 112,881 NS | July 31, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.09% | 838,827 SH | Aug. 19, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.08% | 5,452 NS | July 31, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 1,378,903 SH | Aug. 19, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.04% | 1,236,967 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 213,728 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 8,869,158 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 162,854 NS | July 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 1,962,088 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 185,787 SH | Oct. 2, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 898,611 SH | Sept. 11, 2026 | Daily |
| TEXN · iShares Trust | 0.01% | 900 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 4,545,139 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 101,586 SH | Aug. 19, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 33,635 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 515,548 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 88,000 SH | Sept. 10, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 71,754 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 10,511,426 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 25,411 SH | Aug. 19, 2026 | Daily |
| IJR · iShares Trust | · | 24,094,555 SH | Sept. 10, 2026 | Daily |
| IJS · iShares Trust | · | 3,509,845 SH | Sept. 8, 2026 | Daily |
| IWN · iShares Trust | · | 2,347,907 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 54,252 SH | Aug. 31, 2026 | Daily |
SABR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
5 analysts · 2026-10-01Mean target $2.13 +8.1%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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