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Headquartered in Atlanta, Georgia, and founded in 1941, the Company is the world's largest publicly listed independent provider of claims management and outsourcing solutions to carriers, brokers and corporations with an expansive global network serving clients in more than 70 countries. For the year ended December 31, 2025, the Company reported total revenues before reimbursements of $1.266 bi…
Operating margin is thin at 3.37%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 2.2% YoY. The question is whether this is cyclical or a structural shift.
Insufficient data to identify specific risks. Treat any missing metrics as a data gap, not a clean bill of health.
Profitability & Returns
Revenue (TTM)
$1.31B
▼ -2.2% YoY
Net Income (TTM)
$18M
▼ -26.2% YoY
Op. Margin
3.21%
▼ -0.4pp YoY
ROIC
5.69%
▼ -1.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$111M
▲ +108.8% YoY
Op. Cash Flow (TTM)
$119M
▲ +97.3% YoY
Net Debt
$217M
Cash & Equiv.
$54M
5Y CAGR: +5.2%
5Y CAGR: +3.7%
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