People Inc PPLI
IAC today is comprised of category leading businesses, including People Inc. and Care.com, among others, and holds strategic equity positions in MGM Resorts International and Turo Inc.
IAC began as a hybrid media/electronic retailing company over twenty-five years ago. Since then, IAC (directly and through predecessor entities) has transformed itself into a leading Internet company through the development, building, acquisition and distribution to its stockholders of a number of businesses and continues to build companies and invest opportunistically.
From and after the late 1990s, we acquired a number of e-commerce companies, including Ticketmaster Group (later renamed Ticketmaster), Hotel Reservations Network (later renamed Hotels.com), Expedia.com, Match.com, LendingTree (later renamed Tree.com, Inc.), TripAdvisor, HomeAdvisor and Ask Jeeves, as well as Interval International (later renamed Interval Leisure Group, Inc.).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.39B | $2.62B | $2.92B | $3.34B | $3.70B | $2.76B | $2.51B | $2.37B | $1.95B |
| Cost of revenue | $809.8M | $1.00B | $1.22B | $1.50B | $1.30B | $745.4M | $547.7M | $437.8M | $362.6M |
| Gross profit | $1.58B | $1.62B | $1.70B | $1.85B | $2.40B | $2.02B | $1.96B | $1.94B | $1.59B |
| R&D | $196.0M | $228.3M | $237.9M | $244.2M | $230.8M | $185.3M | $132.6M | $140.3M | $148.0M |
| SG&A | $418.5M | $499.1M | $518.7M | $518.2M | $797.4M | $745.2M | $573.1M | $538.5M | $528.3M |
| Total operating expenses | $2.49B | $2.65B | $3.16B | $3.70B | $3.84B | $3.30B | $2.50B | $2.30B | $2.12B |
| Operating income | -$97.4M | -$28.7M | -$237.8M | -$355.1M | -$137.1M | -$537.7M | $5.7M | $75.3M | -$164.6M |
| Interest expense | $120.0M | $135.7M | $137.5M | $90.1M | $34.3M | $16.2M | $11.9M | $13.1M | $2.2M |
| Pre-tax income | -$81.9M | -$715.0M | $393.0M | -$1.39B | $729.8M | $244.2M | $34.3M | $344.9M | -$130.8M |
| Income tax | $34.8M | $141.9M | $98.2M | $311.3M | $139.0M | $45.7M | $47.3M | $22.6M | $155.4M |
| Net income | -$104.0M | -$539.9M | $265.9M | -$1.17B | $597.5M | $269.7M | $22.9M | $246.8M | $24.6M |
| EPS, basic | -1.30 | -6.49 | 3.07 | -13.55 | 6.70 | 3.16 | 0.27 | 2.90 | — |
| EPS, diluted | -1.30 | -6.49 | 2.97 | -13.55 | 6.31 | 2.97 | 0.27 | 2.90 | — |
| Shares, diluted (wtd. avg.) | $80.1M | $83.1M | $86.5M | $86.3M | $91.8M | $90.9M | $85.1M | $85.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $960.2M | $1.38B | $933.4M | $1.10B | $2.12B | $3.37B | $837.9M | $884.0M | $757.2M |
| Short-term investments | $0 | $0 | $149.0M | $239.4M | $19.8M | $225.0M | — | — | — |
| Receivables | $448.8M | $483.0M | $536.6M | $607.8M | $695.5M | $257.7M | $181.9M | — | — |
| Inventory | — | — | — | — | $30.7M | $317.0K | — | — | — |
| Total current assets | $1.54B | $2.49B | $2.24B | $2.56B | $3.08B | $4.12B | $1.23B | — | — |
| Property, plant and equipment | $287.4M | $313.2M | $455.3M | $510.6M | $570.5M | $274.9M | $305.4M | — | — |
| Goodwill | $1.79B | $1.99B | $2.14B | $3.03B | $3.23B | $1.66B | $1.40B | $1.48B | — |
| Other intangibles | $465.9M | $554.5M | $874.7M | $1.17B | $1.41B | $395.0M | $350.1M | — | — |
| Total assets | $7.13B | $9.69B | $10.37B | $10.39B | $12.30B | $9.16B | $4.10B | — | — |
| Short-term debt | $24.5M | $35.0M | $30.0M | $30.0M | $30.0M | $0 | $13.8M | — | — |
| Total current liabilities | $560.9M | $886.2M | $950.5M | $1.08B | $1.38B | $750.9M | $585.3M | — | — |
| Long-term debt | $1.40B | $1.44B | $1.99B | $2.02B | $2.05B | $712.3M | $231.9M | — | — |
| Retained earnings | -$643.0M | -$539.0M | $923.0K | -$265.0M | $905.2M | $694.0M | $0 | — | — |
| Total equity | $4.73B | $5.58B | $6.76B | $6.57B | $7.75B | $7.15B | $3.01B | $2.68B | $2.26B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $64.0M | $192.5M | $77.3M | -$115.9M | $118.9M | $113.4M | $275.3M | $377.0M | $140.4M |
| Depreciation and amortisation | $37.5M | $40.8M | $80.9M | $52.7M | $75.0M | $68.8M | $55.5M | $41.2M | $40.8M |
| Stock-based compensation | — | — | — | — | — | $189.0M | $130.2M | $144.6M | $192.0M |
| Capital expenditure | $19.2M | $15.0M | $93.6M | $23.4M | $90.2M | $60.7M | $95.1M | $54.5M | $46.2M |
| Investing cash flow | -$404.6M | $327.2M | -$41.2M | -$378.7M | -$2.91B | -$1.87B | -$249.7M | -$44.2M | -$161.0M |
| Financing cash flow | -$451.0M | -$76.9M | -$206.0M | -$95.4M | $1.12B | $4.20B | $127.0M | -$197.7M | $246.8M |
| Buybacks | $315.0M | $0 | $165.6M | $85.3M | $35.4M | $63.7M | $56.9M | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-251426.
Others in SIC 7370
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|---|---|---|---|---|
| GOOGL | Alphabet Inc. | $4.11T | 31.3x | 15.1% |
| META | Meta Platforms, Inc. | $1.57T | 26.3x | 22.2% |
| TBLA | Taboola.com Ltd. | $1.07T | 29.7x | 8.3% |
| APP | AppLovin Corp | $107.64B | 32.9x | 70.0% |
| ZM | Zoom Communications, Inc. | $29.68B | 16.4x | 4.4% |
| FLUT | Flutter Entertainment plc | $17.37B | — | 16.6% |
| DOCN | DigitalOcean Holdings, Inc. | $13.22B | 44.6x | 15.5% |
| PINS | PINTEREST, INC. | $11.48B | 33.4x | 15.8% |