People Inc.
PPLI Nasdaq Interactive Media & Services Financials FY2018–FY2025
People Inc.'s revenue fell 8.7% to $2.4 billion in fiscal 2025. Its operating margin was −4.1%, down from −1.1% a year earlier. Free cash flow was $45 million, down 86.8%. It paid out $315 million in dividends and buybacks, 703% of free cash flow. The diluted share count fell 3.7%.
About these figures. People Inc. (formerly IAC) spun off Angi in March 2025; its figures from 2023 are as restated without Angi, while earlier years include it, so the change from 2022 to 2023 compares different businesses.
What People Inc. does
No business description yet.
- Legal name
- People Incorporated
- Fiscal year ends
- December 31, 2025
- Latest annual report
- —
- Accession · CIK
- 0001628280-26-009997
0001800227
Revenue and margins
People Inc. had $2.4B of revenue in fiscal 2025, down 8.7% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was $44.8M in fiscal 2025, 1.9% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
People Inc. returned $315M to shareholders in fiscal 2025, 703% of free cash flow. The diluted share count fell 3.7%.
Value People Inc. yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$481M and divides by 80.1M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Earnings multiple
Value per share
—
Reference multiples: today 8.5x · peers 24.9x · sector 17.3x.
Balance sheet
Cash, debt and the ratios that show how comfortably People Inc. can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.1B | $1.3B | $1.1B | $1.4B | $960M |
| Debt incl. finance leases | $2.1B | $2.1B | $2.0B | $2.0B | $1.4B |
| Net debt / EBITDA | −3.0x | — | 7.3x | 3.9x | 14.5x |
| Debt / equity | 0.3x | 0.4x | 0.3x | 0.4x | 0.3x |
| Interest coverage | −4.0x | −4.3x | −1.5x | −0.2x | −0.8x |
| Current ratio | 2.2x | 2.4x | 2.4x | 2.8x | 2.8x |
| Quick ratio | 2.2x | 2.4x | 2.4x | 2.8x | 2.8x |
| Total assets | $12.3B | $10.4B | $10.4B | $9.7B | $7.1B |
| Total liabilities | $4.6B | $3.8B | $3.6B | $3.4B | $2.4B |
| Shareholders' equity | $7.2B | $5.9B | $6.1B | $5.6B | $4.7B |
| Net debt (− = net cash) | −$38.5M | $734M | $958M | $598M | $481M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.3M
1 insider
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 12, 2026 | Michael H SchwerdtmanSVP and CAO | Sold | 6,878 | $40.54 | $0.3M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ |
| Return on assets rose | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✕ | ✓ |
| Current ratio rose | ✕ | ✓ | ✕ |
| Share count didn't rise | ✕ | ✓ | ✓ |
| Gross margin rose | ✕ | ✓ | ✓ |
| Revenue rose relative to assets | ✕ | ✕ | ✕ |
| F-score | 3 / 9 | 5 / 9 | 6 / 9 |
| Accruals ratio | 0.7% | −8.9% | −2.0% |
| Altman Z'' | 2.62 | 2.81 | 2.63 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| People Inc. PPLI | $2.9B | −8.7% | −4.1% | 1.9% | −1.3% | 8.5x | 6 | |
| Reddit RDDT | $29.1B | 69.4% | 20.1% | 31.1% | 119.1% | 33.5x | 6 | Compare → |
| Tripadvisor TRIP | $1.1B | 3.1% | 4.2% | 8.6% | 8.9% | 156.8x | 6 | Compare → |
| Match Group MTCH | $11.3B | 0.2% | 25.0% | 29.4% | 28.3% | 16.2x | 8 | Compare → |
| Yelp YELP | $1.1B | 3.8% | 12.6% | 22.1% | — | 9.6x | — | Compare → |
8 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $2.5B | $2.5B | $2.8B | $3.7B | $5.2B | $2.9B | $2.6B | $2.4B |
| Gross profit | $2.0B | $1.9B | $1.9B | $2.4B | $3.3B | $1.7B | $1.6B | $1.6B |
| Research and development | $177M | $133M | $185M | $231M | $318M | $238M | $228M | $196M |
| Operating income | $35.8M | $5.7M | −$538M | −$137M | −$475M | −$238M | −$28.7M | −$97.4M |
| Interest expense | $13.1M | $11.9M | $16.2M | $34.3M | $110M | $158M | $136M | $120M |
| Pretax income | $306M | $34.3M | $244M | $730M | −$1.5B | $393M | −$715M | −$81.9M |
| Income tax | $13.2M | −$47.3M | −$45.7M | $139M | −$331M | $98.2M | −$142M | $34.8M |
| Net income | $292M | $22.9M | $270M | $598M | −$1.2B | $266M | −$540M | −$104M |
| Diluted EPS | $2.90 | $0.27 | $2.97 | $6.31 | −$13.55 | $2.97 | −$6.49 | −$1.30 |
| Diluted shares | 0.09B | 0.09B | 0.09B | 0.09B | 0.09B | 0.09B | 0.08B | 0.08B |
| Cash flow | ||||||||
| Cash from operations | $369M | $252M | $155M | $119M | −$82.8M | $190M | $355M | $64.0M |
| Capital expenditure | $54.7M | $95.1M | $60.7M | $90.2M | $140M | $93.6M | $15.0M | $19.2M |
| Free cash flow | $315M | $157M | $93.9M | $28.7M | −$223M | $95.9M | $340M | $44.8M |
| Depreciation and amortization | $150M | $130M | $196M | $150M | $439M | $369M | $183M | $131M |
| Stock-based compensation | $148M | $134M | $197M | $79.5M | $124M | $73.6M | $77.7M | $32.3M |
| Acquisitions | $65.6M | $28.4M | $685M | $2.7B | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $56.9M | $63.7M | $35.4M | $0.0M | $166M | $0.0M | $315M |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $0.0M | $56.9M | $63.7M | $35.4M | $0.0M | $166M | $0.0M | $315M |
| Balance sheet | ||||||||
| Cash and short-term investments | $884M | $838M | $3.6B | $2.1B | $1.3B | $1.1B | $1.4B | $960M |
| Total debt | — | $246M | $720M | $2.1B | $2.1B | $2.0B | $2.0B | $1.4B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Current assets | — | $1.2B | $4.1B | $3.1B | $2.6B | $2.2B | $2.5B | $1.5B |
| Current liabilities | — | $585M | $751M | $1.4B | $1.1B | $951M | $886M | $561M |
| Inventory | $0.0M | $0.0M | $0.3M | $30.7M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | — | $305M | $275M | $571M | $511M | $455M | $313M | $287M |
| Total assets | — | $4.1B | $9.2B | $12.3B | $10.4B | $10.4B | $9.7B | $7.1B |
| Total liabilities | — | $1.1B | $2.0B | $4.6B | $3.8B | $3.6B | $3.4B | $2.4B |
| Shareholders' equity | $2.7B | $2.5B | $6.6B | $7.2B | $5.9B | $6.1B | $5.6B | $4.7B |
| Margins | ||||||||
| Gross margin | 80.2% | 76.1% | 70.5% | 65.0% | 63.1% | 58.2% | 61.8% | 66.2% |
| Operating margin | 1.4% | 0.2% | −19.5% | −3.7% | −9.1% | −8.1% | −1.1% | −4.1% |
| EBITDA margin | 7.3% | 5.4% | −12.4% | 0.4% | −0.7% | 4.5% | 5.9% | 1.4% |
| Net margin | 11.5% | 0.9% | 9.8% | 16.2% | −22.4% | 9.1% | −20.6% | −4.4% |
| FCF margin | 12.4% | 6.2% | 3.4% | 0.8% | −4.3% | 3.3% | 13.0% | 1.9% |
| Returns | ||||||||
| Return on capital | — | — | −16.1% | −1.9% | −5.0% | −2.4% | −0.3% | −1.3% |
| Return on capital employed | — | — | −9.0% | −1.4% | −4.7% | −2.5% | −0.3% | −1.3% |
| Return on equity | — | — | 5.9% | 8.7% | −17.9% | 4.4% | −9.3% | −2.0% |
| Return on assets | — | — | 4.1% | 5.6% | −10.3% | 2.6% | −5.4% | −1.2% |
| Growth | ||||||||
| Revenue growth | — | −0.9% | 10.1% | 33.8% | 41.5% | −44.2% | −10.2% | −8.7% |
| Net income growth | — | −92.2% | 1,078.1% | 121.5% | −295.8% | — | −303.0% | — |
| EPS growth | — | −90.7% | 1,000.0% | 112.5% | −314.7% | — | −318.5% | — |
| FCF growth | — | −50.2% | −40.1% | −69.4% | −875.7% | — | 253.9% | −86.8% |
| Share count change | — | 0.0% | 6.8% | 1.0% | −6.0% | 0.1% | −3.9% | −3.7% |
| Financial health | ||||||||
| Net debt / EBITDA | — | −4.4x | — | −3.0x | — | 7.3x | 3.9x | 14.5x |
| Debt / equity | — | 0.1x | 0.1x | 0.3x | 0.4x | 0.3x | 0.4x | 0.3x |
| Interest coverage | 2.7x | 0.5x | −33.3x | −4.0x | −4.3x | −1.5x | −0.2x | −0.8x |
| Current ratio | — | 2.1x | 5.5x | 2.2x | 2.4x | 2.4x | 2.8x | 2.8x |
| Quick ratio | — | 2.1x | 5.5x | 2.2x | 2.4x | 2.4x | 2.8x | 2.8x |
| Capital allocation | ||||||||
| Capex / revenue | 2.2% | 3.8% | 2.2% | 2.4% | 2.7% | 3.2% | 0.6% | 0.8% |
| Stock comp / revenue | 5.9% | 5.4% | 7.1% | 2.2% | 2.4% | 2.5% | 3.0% | 1.4% |
| Payouts / FCF | 0.0% | 36.3% | 67.8% | 123.4% | — | 172.6% | 0.0% | 702.7% |
| Quality scores | ||||||||
| Piotroski F-score | — | — | — | 2.0 | 5.0 | 3.0 | 5.0 | 6.0 |
| Altman Z'' | — | 3.9 | 6.0 | 2.9 | 2.4 | 2.6 | 2.8 | 2.6 |
| Accruals ratio | — | — | 1.7% | 4.5% | −9.6% | 0.7% | −8.9% | −2.0% |
Source: SEC EDGAR XBRL filings (CIK 0001800227). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.