A Business at a Glance
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Who We Are 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. As used herein, “IAC,” the “Company,” “we,” “our,” “us” and other similar terms refer to IAC Inc. and its subsidiaries (unless the context requires otherwise). Our History 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.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.4B | 2.4B | 2.6B | 4.4B | 5.2B | 3.7B |
| Net Income | -104M | -104M | -540M | 257M | -1.2B | 577M |
| EPS | $-1.30 | $-1.30 | $-6.49 | $2.97 | $-13.55 | $6.31 |
| Free Cash Flow | 45M | 45M | 289M | 96M | -223M | 29M |
| ROIC | -1.4% | -1.6% | -0.5% | 3.2% | -13.6% | 7.0% |
| Gross Margin | 66.2% | 66.2% | 61.8% | 72.1% | 63.1% | 65.0% |
| Debt/Equity | 0.34 | 0.34 | 0.26 | 0.33 | 0.35 | 0.29 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -97M | -97M | -29M | -238M | -475M | -137M |
| Operating Margin | -4.1% | -4.1% | -1.1% | -5.4% | -9.1% | -3.7% |
| ROE | -2.2% | -2.0% | -9.3% | 4.3% | -17.9% | 8.4% |
| Shares Outstanding | 80M | 80M | 83M | 86M | 86M | 92M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 2.5B | 2.5B | 2.8B | 3.7B | 5.2B | 4.4B | 2.6B | 2.4B | 2.4B |
| Gross Margin | 37.3% | 78.2% | 73.0% | 65.0% | 63.1% | 72.1% | 61.8% | 66.2% | 66.2% |
| R&D | 177M | 133M | 185M | 231M | 318M | 238M | 228M | 196M | 196M |
| SG&A | 570M | 573M | 745M | 797M | 992M | 519M | 499M | 419M | 419M |
| EBIT | 36M | 5.7M | -538M | -137M | -475M | -238M | -29M | -97M | -97M |
| Op. Margin | 1.4% | 0.2% | -19.4% | -3.7% | -9.1% | -5.4% | -1.1% | -4.1% | -4.1% |
| Net Income | 247M | 23M | 270M | 577M | -1.2B | 257M | -540M | -104M | -104M |
| Net Margin | 9.7% | 0.9% | 9.8% | 15.6% | -22.4% | 5.9% | -20.6% | -4.3% | -4.3% |
| Non-Recurring | 121M | 3.3M | 266M | 4.2M | 193M | 89M | 109M | 207M | 207M |
| Returns on Capital | |||||||||
| ROIC | 21.9% | 1.7% | 5.4% | 7.0% | -13.6% | 3.2% | -0.5% | -1.6% | -1.4% |
| ROE | 21.9% | 1.8% | 5.9% | 8.4% | -17.9% | 4.3% | -9.3% | -2.0% | -2.2% |
| ROA | N/A | 1.1% | 4.1% | 5.4% | -10.3% | 2.5% | -5.4% | -1.2% | -1.5% |
| Cash Flow | |||||||||
| Op. Cash Flow | 369M | 252M | 155M | 119M | -83M | 190M | 355M | 64M | 64M |
| Free Cash Flow | 315M | 157M | 94M | 29M | -223M | 96M | 289M | 45M | 45M |
| Owner Earnings | 72M | -84M | -250M | -470M | -484M | -302M | 64M | -215M | -215M |
| CapEx | 55M | 95M | 61M | 90M | 140M | 94M | 66M | 19M | 19M |
| Maint. CapEx | 149M | 202M | 207M | 497M | 274M | 374M | 178M | 199M | 199M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 149M | 202M | 207M | 497M | 274M | 374M | 178M | 199M | 199M |
| CapEx/OCF | 14.8% | 37.8% | 39.3% | 75.9% | N/A | 49.4% | 7.8% | 30.0% | 30.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 57M | 64M | 35M | 0 | 166M | 0 | 315M | 315M |
| Buyback Yield | N/A | 1.5% | 0.7% | 0.4% | N/A | 4.4% | N/A | 9.8% | 9.4% |
| Stock-Based Comp | 148M | 134M | 197M | 92M | 127M | 117M | 113M | 80M | 80M |
| Debt Repayment | 3.7M | 0 | 6.5M | 24M | 785K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||
| Net Debt | N/A | -592M | -2.6B | -62M | 714M | 941M | 88M | 666M | 666M |
| Cash & Equiv. | 884M | 838M | 3.4B | 2.1B | 1.1B | 933M | 1.4B | 960M | 960M |
| Long-Term Debt | N/A | 232M | 712M | 2.0B | 2.0B | 2.0B | 1.4B | 1.4B | 1.4B |
| Debt/Equity | -92.98 | 0.10 | 0.14 | 0.29 | 0.35 | 0.33 | 0.26 | 0.34 | 0.34 |
| Interest Coverage | 2.7 | 0.5 | -33.3 | -4.0 | -4.3 | -1.5 | -0.2 | -0.8 | -0.8 |
| Equity | -383K | 2.5B | 6.6B | 7.2B | 5.9B | 6.1B | 5.6B | 4.7B | 4.7B |
| Total Assets | N/A | 4.1B | 9.2B | 12.3B | 10.4B | 10.4B | 9.7B | 7.1B | 7.1B |
| Total Liabilities | 36M | 1.1B | 2.0B | 4.6B | 3.8B | 3.6B | 3.4B | 655M | 655M |
| Intangibles | N/A | 350M | 395M | 1.4B | 1.2B | 875M | 554M | 466M | 466M |
| Retained Earnings | N/A | 0 | 694M | 905M | -265M | 923K | -539M | -643M | -643M |
| Working Capital | N/A | 644M | 3.4B | 1.7B | 1.5B | 1.3B | 1.6B | 984M | 984M |
| Current Assets | N/A | 1.2B | 4.1B | 3.1B | 2.6B | 2.2B | 2.5B | 1.5B | 1.5B |
| Current Liabilities | N/A | 585M | 751M | 1.4B | 1.1B | 950M | 886M | 561M | 561M |
| Per Share Data | |||||||||
| EPS | 2.90 | 0.27 | 2.97 | 6.31 | -13.55 | 2.97 | -6.49 | -1.30 | -1.30 |
| Owner EPS | 0.84 | -0.99 | -2.75 | -5.14 | -5.60 | -3.49 | 0.77 | -2.68 | -2.68 |
| Book Value | -0.00 | 29.90 | 72.65 | 78.41 | 68.69 | 70.31 | 67.05 | 59.16 | 59.16 |
| Cash Flow/Share | 4.34 | 2.97 | 1.70 | 1.30 | -0.96 | 2.19 | 4.26 | 0.80 | 1.18 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 85.1M | 84.8M | 90.8M | 91.5M | 86.4M | 86.4M | 83.2M | 80.0M | 80.0M |
| Valuation | |||||||||
| P/E Ratio | 11.2 | 167.1 | 34.0 | 16.9 | N/A | 14.7 | N/A | N/A | -32.2 |
| P/FCF | 8.8 | 24.4 | 97.7 | 340.0 | N/A | 39.4 | 10.2 | 71.6 | 74.7 |
| EV/EBIT | N/A | 564.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 1.5 | 1.4 | 1.4 | 0.5 | 0.6 | 0.5 | 0.7 | 0.7 |
| Price/Sales | 1.0 | 1.3 | 1.9 | 2.9 | 1.1 | 0.9 | 1.3 | 1.2 | 1.4 |
| FCF Yield | 11.4% | 4.1% | 1.0% | 0.3% | -7.5% | 2.5% | 9.8% | 1.4% | 1.3% |
| Market Cap | 2.8B | 3.8B | 9.2B | 9.8B | 3.0B | 3.8B | 2.9B | 3.2B | 3.3B |
| Avg. Price | 29.88 | 39.92 | 56.87 | 118.95 | 66.59 | 43.98 | 41.59 | 36.19 | 41.85 |
| Year-End Price | 32.38 | 45.13 | 101.01 | 106.60 | 34.42 | 43.69 | 35.38 | 40.10 | 41.85 |
IAC Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 66.4x vs a median of 31.9x. The company's 5-year average gross margin is 65.6%. Total shareholder yield (buybacks) is 9.4%. At current prices, the estimated annualized return to fair value is -9.5%.
IAC Inc. (IAC) has a 5-year average return on invested capital (ROIC) of -1.1%. This is below average and may indicate limited pricing power.
IAC Inc. (IAC) has a market capitalization of $3.3B. It is classified as a mid-cap stock.
IAC Inc. (IAC) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 9.41%.
IAC Inc. (IAC) operates in the Services-Computer Programming, Data Processing, Etc. industry, within the Technology sector.
IAC Inc. (IAC) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
IAC Inc. (IAC) has a net profit margin of -4.3%. The company is currently unprofitable.
IAC Inc. (IAC) generated $45 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
IAC Inc. (IAC) has a debt-to-equity ratio of 0.34. This indicates a conservatively financed balance sheet.
IAC Inc. (IAC) reported earnings per share (EPS) of $-1.30 in its most recent fiscal year.
IAC Inc. (IAC) has a return on equity (ROE) of -2.0%. A negative ROE may indicate losses or negative equity.
IAC Inc. (IAC) has a 5-year average gross margin of 65.6%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 8 years of financial data for IAC Inc. (IAC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
IAC Inc. (IAC) has a book value per share of $59.16, based on its most recent annual SEC filing.