People Inc financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data People Inc files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,533	2,510	2,765	3,700	5,235	4,365	2,622	2,393
Cost of revenue	501	600	815	1,296	1,934	1,219	1,002	810
Gross profit	2,032	1,910	1,950	2,403	3,302	3,146	1,620	1,583
Research and development	177	133	185	231	318	238	228	196
Selling and marketing	1,099	1,118	1,165	1,362	1,915	803	738	728
General and administrative	570	573	745	797	992	519	499	419
Operating income	35.8	5.73	-538	-137	-475	-238	-28.7	-97.4
Interest expense	13.1	11.9	16.2	34.3	110	158	136	120
Interest income	9.13	15.2	7.18	1.35	24.9	54	66.9	46.6
Other non-operating income	283	40.5	-42.6	112	-218	46.6	98.5	16.4
Pre-tax income	306	34.3	244	730	-1,526	393	-715	-81.9
Income tax	13.2	-47.3	-45.7	139	-331	98.2	-142	34.8
Net income to minority interests	45.6	9.29	-1.14	-8.56	-22.3	-7.63	6.57	2.56
Net income	247	22.9	270	598	-1,170	266	-540	-104
EBITDA	78.2	61.2	-469	-62.1	-344	-157	12.2	-59.9
EPS, basic	2.90	0.27	3.16	6.70	-13.55	3.07	-6.49	-1.30
EPS, diluted	2.90	0.27	2.97	6.31	-13.55	2.97	-6.49	-1.30
Shares, basic (weighted)	85.1	85.1	85.4	86.2	86.4	83.6	83.1	80.1
Shares, diluted (weighted)	85.1	85.1	90.9	91.8	86.4	86.5	83.1	80.1

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	884	838	3,366	2,119	1,096	933	1,364	941
Short-term investments		0	225	19.8	239	149	0	0
Receivables		182	258	696	608	537	483	410
Inventory			0.32	30.7
Other current assets		152	140	242	297	257	125	97.9
Total current assets		1,229	4,119	3,076	2,561	2,241	2,485	1,545
Property, plant and equipment		305	275	571	511	455	313	284
Lease right-of-use assets		139	170	498	428	300	225	159
Goodwill	1,484	1,397	1,660	3,227	3,030	2,138	1,993	1,508
Intangible assets		350	395	1,415	1,170	875	554	394
Long-term investments		348	298	328	326
Other non-current assets		248	288	1,037	626	473	325	223
Total assets		4,097	9,162	12,303	10,394	10,371	9,689	7,195
Accounts payable		72.5	88.8	203	133	106	53.7	29.9
Accrued liabilities		320	340	983	760	672	509	391
Deferred revenue	150	94.7	138	166	157	93.6	56.6	19
Short-term debt		13.8	0	30	30	30	35	24.5
Total current liabilities		585	751	1,382	1,080	950	886	561
Long-term debt		232	712	2,046	2,020	1,993	1,435	1,401
Lease liabilities		168	205	578	519	401	309	160
Other non-current liabilities		180	234	721	618	475	373	226
Total liabilities		1,092	2,011	4,554	3,821	3,616	3,410	2,431
Total debt		246	720	2,100	2,070	2,040	1,980	1,441
Paid-in capital		0	5,910	6,266	6,295	6,340	6,381	5,960
Retained earnings		0	694	905	-265	0.92	-539	-643
Treasury stock				0	-85.3	-252	-252	-571
Other comprehensive income		-12.2	-6.17	4.4	-13.1	-10.9	-11.4	-11.8
Shareholders' equity		2,535	6,598	7,175	5,932	6,078	5,578	4,734
Minority interests		470	553	574	641	677	701	29.9
Total equity	2,684	3,005	7,151	7,749	6,573	6,755	6,279	4,764
Total liabilities and equity		4,097	9,162	12,303	10,394	10,371	9,689	7,195

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	292	32.2	269	589	-1,192	258	-533	-101
Depreciation and amortization	42.4	55.5	68.8	75	131	80.9	40.8	37.5
Stock-based compensation	148	134	197	79.5	123	73.6	77.7	32.3
Deferred income tax	8.77	-49.4	-18.4	133	-338	88.4	-157	27.6
Change in receivables	-52.1	-72.1	-129	-155	-66.7	12.1	-6.4	14.2
Change in payables	35.6	22.5	42.4	90.3	-248	-107	-8.73	-58.6
Cash from operations	369	252	155	119	-82.8	190	355	64
Capital expenditures	-54.7	-95.1	-60.7	-90.2	-140	-93.6	-15	-19.2
Acquisitions	-65.6	-28.4	-685	-2,700	0	0
Purchases of investments	-59.7	-254	-1.15	-24.3	-3.04	-104	-0.05	0
Sales and maturities of investments	136	165	26.3
Cash from investing	-44.7	-422	-1,872	-2,908	-495	-87.5	277	-405
Debt issued		0	500	0	0	0	0	400
Stock issued		0	0	1.5	0	0.13	0
Share buybacks		-56.9	-63.7	-35.4		-166	0	-315
Cash from financing	-198	124	4,352	1,116	-113	-223	-129	-451
Exchange rate effect	-0.12	-0.12	2.02
Net change in cash	127	-46.1	2,636	-1,355	-696	-120	501	-820
Free cash flow	315	157	93.9	28.7	-223	95.9	340	44.8
Interest paid	13.1	10	6.52	21.7	98.2	137	131	116
Income taxes paid	4.08	4.8	5.97	9.88	16.4	12.4	12.1	9.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $40.00 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	69.1%	Gross profit / revenue.
Operating margin	-7.2%	Operating income / revenue.
EBITDA margin	-5.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	27.0%	Pre-tax income / revenue.
Net margin	14.4%	Net income / revenue.
FCF margin	5.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	6.6%	Cash from operations / revenue.
Effective tax rate	33.9%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	4.5%	Net income / average total assets.
Return on invested capital (ROIC)	-2.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	7.3%	Research and development expense / revenue.
Stock-based pay / revenue	3.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.3%	Capital expenditures / revenue.
D&A / revenue	1.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-8.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-23.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-2.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-21.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-4.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-592.6%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-81.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-16.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-86.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-13.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-15.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-6.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-25.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-11.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-4.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.5%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.69x	Current assets / current liabilities.
Quick ratio	3.43x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.65x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.28x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	18.8%	Total debt / total assets.
Liabilities / assets	31.9%	Total liabilities / total assets.
Net debt	$301.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-1.58x	Operating income / interest expense.
Working capital	$1.13B	Current assets - current liabilities.
Goodwill and intangibles / assets	24.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.22B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.31x	Revenue / average total assets.
Fixed asset turnover	8.06x	Revenue / average property, plant and equipment.
Receivables turnover	7.07x	Revenue / average receivables.
Days sales outstanding	52 days	365 x average receivables / revenue.
Days payables	16 days	365 x average accounts payable / cost of revenue.
FCF conversion	36.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	19.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.43	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$30.66	Revenue / diluted weighted shares.
FCF per share	$1.63	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.03	Cash from operations / diluted weighted shares.
Book value per share	$66.94	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$42.37	Tangible book value / shares outstanding.
Cash per share	$14.66	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	200.4%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.98B	Share price x shares outstanding.
Enterprise value	$3.28B	Market cap + total debt - cash - short-term investments.
P/E	8.86x	Market cap / net income. Only when net income is positive.
P/S	1.28x	Market cap / revenue.
P/B	0.59x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.93x	Market cap / tangible book value, when positive.
P/FCF	24.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	19.3x	Market cap / cash from operations, when positive.
EV/Sales	1.41x	Enterprise value / revenue.
EV/FCF	26.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.2%	Free cash flow / market cap.
Earnings yield	11.3%	Net income / market cap (the inverse of P/E).
Shareholder yield	8.3%	(Dividends paid + share buybacks) / market cap.

What was People Inc's revenue in fiscal 2025?

People Inc reported revenue of $2.39B for fiscal 2025, 8.7% lower than the year before.

Was People Inc profitable in fiscal 2025?

No. It reported a net loss of $104.0M.

How much free cash flow did People Inc generate in fiscal 2025?

Cash from operations of $64.0M minus capital expenditures of $19.2M left free cash flow of $44.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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