IAC (IAC)
Market Price (4/11/2026): $40.86 | Market Cap: $3.2 BilSector: Communication Services | Industry: Publishing
IAC (IAC)
Market Price (4/11/2026): $40.86Market Cap: $3.2 BilSector: Communication ServicesIndustry: Publishing
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Low stock price volatilityVol 12M is 33% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Digital Content & Streaming. Themes include Online Marketplaces, and Online Content & Information. | Trading close to highsDist 52W High is -2.0% Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -85% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 83x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -10% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.2% Key risksIAC key risks include [1] the non-renewal of its Google Services Agreement, Show more. |
| Low stock price volatilityVol 12M is 33% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, and Digital Content & Streaming. Themes include Online Marketplaces, and Online Content & Information. |
| Trading close to highsDist 52W High is -2.0% |
| Weak multi-year price returns2Y Excs Rtn is -53%, 3Y Excs Rtn is -85% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 83x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 52x |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -8.7%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -10% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7.2% |
| Key risksIAC key risks include [1] the non-renewal of its Google Services Agreement, Show more. |
Qualitative Assessment
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IAC (IAC) stock has gained about 5% since 12/31/2025 because of the following key factors:
1. Mixed Q4 2025 Earnings Report and Outlook.
IAC's stock remained largely flat following its Q4 2025 earnings report on February 3, 2026, which presented a mixed financial picture. The company reported an EPS of -$0.99, significantly missing the consensus estimate of $0.67 by $1.66. Despite this, quarterly revenue reached $645.98 million, exceeding analyst estimates of $641.01 million, though it represented a 34.7% year-over-year decline. Adjusted EBITDA for Q4 2025, however, increased by 29% year-over-year to $141.6 million, surpassing analyst expectations. This combination of an earnings miss, revenue beat, but overall year-over-year revenue decline, coupled with improved Adjusted EBITDA, created conflicting signals for investors, preventing a significant upward or downward trend.
2. Strategic Divestiture of Care.com.
The announcement on March 2, 2026, that IAC would sell its Care.com assets to Pacific Avenue Capital Partners for $320.0 million in cash likely contributed to stabilizing the stock. This divestiture removed a segment that incurred a $191 million operating loss in Q4 2025, primarily due to a $207 million goodwill impairment. The sale was perceived as a move to streamline operations and enhance overall profitability by shedding an underperforming asset, counteracting some negative sentiment from the broader financial results.
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1. Mixed Q4 2025 Earnings Report and Outlook.
IAC's stock remained largely flat following its Q4 2025 earnings report on February 3, 2026, which presented a mixed financial picture. The company reported an EPS of -$0.99, significantly missing the consensus estimate of $0.67 by $1.66. Despite this, quarterly revenue reached $645.98 million, exceeding analyst estimates of $641.01 million, though it represented a 34.7% year-over-year decline. Adjusted EBITDA for Q4 2025, however, increased by 29% year-over-year to $141.6 million, surpassing analyst expectations. This combination of an earnings miss, revenue beat, but overall year-over-year revenue decline, coupled with improved Adjusted EBITDA, created conflicting signals for investors, preventing a significant upward or downward trend.
2. Strategic Divestiture of Care.com.
The announcement on March 2, 2026, that IAC would sell its Care.com assets to Pacific Avenue Capital Partners for $320.0 million in cash likely contributed to stabilizing the stock. This divestiture removed a segment that incurred a $191 million operating loss in Q4 2025, primarily due to a $207 million goodwill impairment. The sale was perceived as a move to streamline operations and enhance overall profitability by shedding an underperforming asset, counteracting some negative sentiment from the broader financial results.
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Stock Movement Drivers
Fundamental Drivers
The 4.5% change in IAC stock from 12/31/2025 to 4/10/2026 was primarily driven by a 5.4% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.10 | 40.85 | 4.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,469 | 2,393 | -3.1% |
| P/S Multiple | 1.3 | 1.3 | 5.4% |
| Shares Outstanding (Mil) | 80 | 78 | 2.2% |
| Cumulative Contribution | 4.5% |
Market Drivers
12/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| IAC | 4.5% | |
| Market (SPY) | -5.4% | 47.7% |
| Sector (XLC) | -3.2% | 36.9% |
Fundamental Drivers
The 19.9% change in IAC stock from 9/30/2025 to 4/10/2026 was primarily driven by a 22.7% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.07 | 40.85 | 19.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,521 | 2,393 | -5.1% |
| P/S Multiple | 1.1 | 1.3 | 22.7% |
| Shares Outstanding (Mil) | 80 | 78 | 3.0% |
| Cumulative Contribution | 19.9% |
Market Drivers
9/30/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| IAC | 19.9% | |
| Market (SPY) | -2.9% | 48.3% |
| Sector (XLC) | -3.4% | 42.1% |
Fundamental Drivers
The -11.1% change in IAC stock from 3/31/2025 to 4/10/2026 was primarily driven by a -8.9% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 45.94 | 40.85 | -11.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,622 | 2,393 | -8.7% |
| P/S Multiple | 1.5 | 1.3 | -8.9% |
| Shares Outstanding (Mil) | 83 | 78 | 6.9% |
| Cumulative Contribution | -11.1% |
Market Drivers
3/31/2025 to 4/10/2026| Return | Correlation | |
|---|---|---|
| IAC | -11.1% | |
| Market (SPY) | 16.3% | 50.2% |
| Sector (XLC) | 19.2% | 46.6% |
Fundamental Drivers
The -20.8% change in IAC stock from 3/31/2023 to 4/10/2026 was primarily driven by a -54.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312023 | 4102026 | Change |
|---|---|---|---|
| Stock Price ($) | 51.60 | 40.85 | -20.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,235 | 2,393 | -54.3% |
| P/S Multiple | 0.8 | 1.3 | 57.1% |
| Shares Outstanding (Mil) | 86 | 78 | 10.2% |
| Cumulative Contribution | -20.8% |
Market Drivers
3/31/2023 to 4/10/2026| Return | Correlation | |
|---|---|---|
| IAC | -20.8% | |
| Market (SPY) | 63.3% | 48.0% |
| Sector (XLC) | 102.5% | 45.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IAC Return | -31% | -66% | 18% | -18% | -9% | 5% | -78% |
| Peers Return | 19% | -39% | 82% | 23% | 9% | -9% | 62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 82% |
Monthly Win Rates [3] | |||||||
| IAC Win Rate | 33% | 25% | 58% | 33% | 50% | 75% | |
| Peers Win Rate | 63% | 35% | 73% | 58% | 53% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| IAC Max Drawdown | -35% | -68% | -6% | -20% | -27% | -12% | |
| Peers Max Drawdown | -11% | -47% | -3% | -9% | -20% | -23% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GOOGL, META, YELP, BFAM, NWSA. See IAC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/10/2026 (YTD)
How Low Can It Go
| Event | IAC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -84.1% | -25.4% |
| % Gain to Breakeven | 529.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -64.9% | -33.9% |
| % Gain to Breakeven | 185.2% | 51.3% |
| Time to Breakeven | Not Fully Recovered days | 148 days |
| 2018 Correction | ||
| % Loss | -25.2% | -19.8% |
| % Gain to Breakeven | 33.8% | 24.7% |
| Time to Breakeven | 53 days | 120 days |
Compare to GOOGL, META, YELP, BFAM, NWSA
In The Past
IAC's stock fell -84.1% during the 2022 Inflation Shock from a high on 2/17/2021. A -84.1% loss requires a 529.3% gain to breakeven.
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About IAC (IAC)
IAC/InterActiveCorp operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle. It also operates a digital marketplace that connects home service professionals with consumers for repairing, remodeling, cleaning, landscaping, maintenance, and enhancement services under the Angi Ads, Angi Leads, and Angi Services brands. In addition, the company operates websites that offer general search services and information, including Ask.com, a search site with a variety of fresh and contemporary content; Reference.com that offers content across select vertical categories; Consumersearch.com, which offers content designed to simplify the product research process; and Shopping.net, a vertical shopping search site that contains a mix of search services and/or content targeted to various user or segment demographics, as well as offers direct-to-consumer downloadable desktop applications. Further, it offers Care.com, an online destination for families to connect with caregivers for their children, aging parents, pets, and homes; develops and provides subscription mobile applications across the communication, language, weather, business, health, and lifestyle verticals; a technology driven staffing platform for flexible W-2 work under the Bluecrew name; a platform to connect healthcare professionals with job opportunities under the Vivian Health name; The Daily Beast, a website dedicated to news, commentary, culture, and entertainment that publishes original reporting and opinion; and production and producer services for feature films for sale and distribution through theatrical releases and video-on-demand services. The company was formerly known as IAC HOLDINGS, INC. IAC/InterActiveCorp is headquartered in New York, New York.
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Here are 1-3 brief analogies to describe IAC/InterActiveCorp:
A digital media and services holding company, similar to an internet-focused Berkshire Hathaway, but specializing in online content publishing and various service marketplaces (like Angi for home services).
An internet conglomerate that operates a diverse portfolio of online businesses, like a more diversified version of Match Group (a well-known company IAC previously spun off), but with a broader focus beyond one specific vertical, encompassing content and various online service marketplaces.
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- Digital Content & Publishing: Publishes articles, illustrations, videos, and images across various lifestyle categories, and operates news sites like The Daily Beast.
- Angi (Home Services Marketplace): Connects consumers with home service professionals for repair, remodeling, cleaning, and other maintenance services.
- Search & Information Services: Operates general search sites (Ask.com) and specialized information sites (Reference.com, Consumersearch.com, Shopping.net).
- Care.com (Caregiving Marketplace): An online platform connecting families with caregivers for children, elderly, pets, and home.
- Mobile & Desktop Applications: Develops and provides subscription-based mobile applications and direct-to-consumer downloadable desktop applications.
- Staffing Platforms: Operates Bluecrew for flexible W-2 work and Vivian Health for connecting healthcare professionals with job opportunities.
- Feature Film Production: Provides production and producer services for feature films, distributed theatrically and via video-on-demand.
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IAC/InterActiveCorp (IAC) sells primarily to other companies and organizations.
Its major customers fall into the following categories:
- Home Service Professionals: These are the independent contractors and small businesses that utilize IAC's Angi Ads, Angi Leads, and Angi Services brands to connect with consumers for a wide array of home repair, remodeling, cleaning, landscaping, maintenance, and enhancement services.
- Businesses and Healthcare Organizations Seeking Staff: This category includes various companies that leverage Bluecrew, a technology-driven staffing platform for flexible W-2 work, as well as healthcare organizations that use Vivian Health to connect with healthcare professionals for job opportunities.
- Advertisers: A broad range of companies and brands that purchase advertising space on IAC's extensive network of digital content properties (e.g., The Daily Beast, other publishing sites) and search platforms (e.g., Ask.com, Reference.com, Consumersearch.com, Shopping.net) to reach target audiences.
- Film Distributors and Studios: For the feature films produced by IAC, the customers are typically other companies responsible for the theatrical release, sale, and distribution of these films, including through video-on-demand services.
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Joey Levin Chief Executive Officer Joey Levin has been the Chief Executive Officer of IAC since June 2015, after previously leading its search and applications segment. He joined IAC in 2003, holding various roles including Senior Vice President of Mergers & Acquisitions and Finance, and CEO of Mindspark Interactive Network (later IAC Applications). During his tenure as CEO, he oversaw significant strategic transactions, including the initial public offering and subsequent spin-off of Match Group in 2015 and the spin-off of Vimeo in 2021. He also led acquisitions such as Angie's List (now Angi) and Care.com. Mr. Levin served as CEO of Angi from October 2022 to April 2024, during which time he significantly grew profits and cash flow and transformed the customer experience; he now serves as Executive Chairman of Angi Inc. Prior to joining IAC, he worked in investment banking from 2001 to 2003 in the Technology Mergers & Acquisitions group at Credit Suisse First Boston. Mr. Levin also serves on the boards of Warner Bros. Discovery and MGM Resorts International. Christopher Halpin Executive Vice President, Chief Operating Officer & Chief Financial Officer Christopher Halpin serves as Executive Vice President, Chief Operating Officer, and Chief Financial Officer of IAC. In this role, he is responsible for leading corporate finance, accounting, mergers and acquisitions, investor relations, and administration functions, as well as overseeing the day-to-day operations and execution of IAC's businesses. Before joining IAC, Mr. Halpin spent nearly a decade in leadership positions at the National Football League (NFL), where his most recent role was Executive Vice President, Chief Strategy & Growth Officer. Prior to his time at the NFL, he was a Partner and Managing Director at Providence Equity Partners for 13 years, focusing on investment activities across the Media & Entertainment, Wireless/Satellite, and Business Services sectors. He began his career in the Merchant Banking Division of Goldman Sachs & Co. Mr. Halpin is a board member of Turo, the Children's Scholarship Fund, the Ladies Professional Golf Association (LPGA), and the Western Golf Association/Evans Scholarship Fund. Kendall Handler Executive Vice President, Chief Legal Officer Kendall Handler is the Executive Vice President, Chief Legal Officer, and Secretary of IAC, a position she has held since January 2022. She initially joined IAC in March 2017 as M&A Counsel and was promoted to Vice President, M&A Counsel in February 2018. In her role at IAC, Ms. Handler has been instrumental in leading several of the company's major transactions, including the acquisition of Care.com and a $1 billion investment in MGM. Before her tenure at IAC, she spent over six years as an associate at the law firm Wachtell, Lipton, Rosen & Katz, where her practice involved advising clients on mergers and acquisitions, corporate governance, and general corporate matters. Ms. Handler has also served as a board member of Angi Inc. since December 2020. Russell Farscht Senior Vice President, M&A, Strategy and Treasurer Russell Farscht serves as Senior Vice President, M&A, Strategy and Treasurer at IAC, where he leads mergers and acquisitions and strategic development across all of IAC's businesses. Before joining IAC, Mr. Farscht spent nearly two decades with The Carlyle Group, an investment firm, where he focused on investing in companies at the intersection of the media, technology, and consumer sectors. Most recently, he was a Managing Director of Carlyle's flagship North American buyout fund, helping to lead the firm's global media efforts. Prior to that, Mr. Farscht worked as an investment banking analyst at Salomon Smith Barney. He currently serves as a Board Director of Diamond Communications and is a former director of Getty Images and a former board observer of Ithaca Holdings. Mark Schneider Senior Vice President, Finance and Investor Relations Mark Schneider holds the position of Senior Vice President, Finance and Investor Relations at IAC. He has been with IAC since May 2001.AI Analysis | Feedback
The key risks to IAC/InterActiveCorp's business include its ongoing struggle with profitability and sustainable revenue growth, significant operational and reputational challenges within its key subsidiaries, and its exposure to shifts in digital search traffic and intense competition in its various online markets.
- Declining Revenue and Profitability / Sustainability of Business Model: IAC has faced challenges with consistent revenue growth, often reporting negative operating margins and poor cash profitability over the past several years. Some analyses indicate that the company's historical performance has led to a destruction of shareholder value, with questions raised about the long-term sustainability of its business model given its inability to consistently improve losses or rapidly grow sales. For instance, IAC's free cash flow margin has averaged a low 1.2% over five years, and its two-year annual earnings per share (EPS) declined by 57.4%.
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Operational and Reputational Challenges within Key Subsidiaries: Several of IAC's significant subsidiaries face substantial risks:
- Angi: This home services marketplace contends with a shrinking network of service professionals and a highly competitive environment, leading to concerns about the return on investment of its growth initiatives. Contractors have reported receiving an overwhelming number of low-quality or "fake" leads and being charged for leads that did not materialize. Past allegations of unethical business practices and lawsuits have also impacted its reputation.
- Care.com: The Federal Trade Commission (FTC) has taken action against Care.com for allegedly deceiving caregivers about job wages and availability, and for making it difficult for families to cancel paid memberships. Users have reported issues with billing, hidden fees, and challenging cancellation processes. Historical reports have also highlighted serious concerns regarding caregiver screening, potential fraud, and even links to tragic incidents.
- Vivian Health: This healthcare staffing platform has been criticized for having "fake or outdated job listings" and engaging in excessive spamming. There are broader industry concerns about clinician burnout, understaffing, and unsafe working environments, which could affect Vivian Health's ability to effectively connect healthcare professionals with satisfactory job opportunities. Billing disputes and difficulties in opting out of communications have also been noted.
- Dependence on Search Traffic and Intense Competition in Digital Markets: Many of IAC's digital content and marketplace businesses, including Dotdash Meredith, are vulnerable to shifts in online search algorithms, such as those driven by Google's artificial intelligence advancements. This reliance on external platforms for traffic, coupled with intense competition across its diverse digital sectors, poses a continuous risk to audience reach, engagement, and advertising revenue. Dotdash Meredith, for example, has experienced challenges with integrating acquired assets and managing changing traffic patterns.
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The rapid advancement and adoption of AI-powered conversational search engines and generative AI tools pose a clear emerging threat. These technologies could significantly disrupt IAC's general search services (Ask.com, Reference.com, Consumersearch.com, Shopping.net) by providing direct answers and summarized information, potentially bypassing traditional search sites and impacting traffic and ad revenue. Furthermore, generative AI could lower the barrier to entry for content creation and lead to an oversaturation of digital content, potentially eroding the value proposition and audience engagement for IAC's publishing assets (The Daily Beast, various digital content sites) if not adequately integrated or leveraged.
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For IAC (symbol: IAC), here are the addressable markets for its main products or services:
- Home Services Marketplace (Angi): Null
- Care Services (Care.com): The addressable market for family care services in the U.S. is approximately $400 billion. This market includes child day care, housekeepers, nursing care facilities, tutoring, and pet care services.
- Digital Content/Publishing (e.g., The Daily Beast, various content sites): The global digital content creation market size was estimated at $32.28 billion in 2024 and is projected to reach $69.80 billion by 2030.
- Search Services (Ask.com, Reference.com, Consumersearch.com, Shopping.net): The global online advertising market was valued at $359.88 billion in 2025 and is projected to grow to $1,344.68 billion by 2034. North America holds approximately 36% of the global online advertising market share.
- Staffing Platforms (Bluecrew, Vivian Health):
- Healthcare Staffing (Vivian Health): The U.S. healthcare staffing market size was estimated at $45.48 billion in 2025.
- Flexible W-2 Work / Gig Economy (Bluecrew): The global gig economy market size is anticipated to be worth $582.2 billion in 2025. There are over 59 million American gig workers active in 2024, representing 36% of the U.S. workforce. The U.S. online recruitment services market revenue was $5.2 billion in 2024 and is projected to reach $15.5 billion by 2032.
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Here are 3-5 expected drivers of future revenue growth for IAC (symbol: IAC) over the next 2-3 years:
- Growth in Digital Revenue from People Inc. (formerly Dotdash Meredith): IAC expects continued robust performance from its People Inc. segment, which includes various digital content properties. This growth is anticipated to be driven by increases in advertising, performance marketing, and licensing and other revenues. In Q4 2025, digital revenue from this segment increased 14% year-over-year, and analysts expect mid-to-high single-digit digital revenue and Adjusted EBITDA growth for the company in 2026.
- Revitalization and Return to Growth for Care.com: After a period of challenges, IAC anticipates that Care.com will return to revenue growth in 2026.
- Expansion and Traction of Emerging Platforms: IAC is focusing on newer, emerging platforms and diversified revenue streams beyond traditional web traffic. The "Emerging & Other" segment showed 18% revenue growth in Q4 2025, with The Daily Beast revenue up 50% and Vivian Health returning to growth in the same period. Analysts are also monitoring the ability of emerging platforms like D/Cipher and Vivian to drive incremental growth and profitability.
- Strategic Initiatives to Restore Ad Revenue Growth: Despite recent declines in overall ad revenue, IAC expects this segment to return to growth in the near future. This projected turnaround is supported by strategic management initiatives, investments in new distribution channels, efforts to reduce dependency on traditional search traffic, and macroeconomic stability outside of certain challenged sectors.
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Capital Allocation Decisions of IAC/InterActiveCorp (IAC) (Last 3-5 Years)
Share Repurchases
- IAC repurchased 2,766,564 shares for $100.01 million between July 1, 2025, and September 30, 2025, completing its August 10, 2020, buyback program with a total of 11,604,688 shares repurchased for $550.97 million under that specific authorization.
- The company expanded its share repurchase program on March 16, 2025, authorizing the purchase of an additional 10 million shares, bringing the total available for repurchase to approximately 10.2 million shares.
- Between November 1, 2025, and February 2, 2026, IAC repurchased 1.0 million common shares for an aggregate of $37 million. Over the preceding year, the company repurchased a total of 8.2 million common shares for an aggregate of $337 million.
Share Issuance
- IAC executed a 1219-for-1000 stock split on April 1, 2025, and a 1503-for-1000 stock split on May 25, 2021.
- The company issues various compensatory equity awards, including stock options, restricted stock units, and stock appreciation rights, which could dilute ownership interest.
Outbound Investments
- In Q4 2025, IAC purchased an additional 1.0 million shares of MGM for an aggregate of $40 million, increasing its holding to 65.8 million shares of MGM.
Capital Expenditures
- IAC's capital expenditures for fiscal years ending December 2020 to 2024 averaged $99.512 million, with a peak of $141.4 million in December 2023.
- The company's capital expenditures for the latest twelve months (as of February 3, 2026) were -$19.20 million.
- Capital expenditures in 2025 were $19.2 million, and 2026 capital expenditures are expected to be higher by approximately 40% to 50%, primarily due to leasehold improvements related to the optimization of remaining space under amended leases.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| IAC Earnings Notes | 12/24/2025 | |
| Is IAC Stock Built to Withstand a Pullback? | 10/17/2025 | |
| IAC vs Apple: Which Is A Better Investment? | 08/18/2025 | |
| IAC vs Alphabet: Which Is A Better Investment? | 08/18/2025 | |
| IAC vs News: Which Is A Better Investment? | 08/18/2025 | |
| IAC Stock vs Competition: Who Wins? | 08/13/2025 | |
| Better Bet Than IAC Stock: Pay Less Than IAC To Get More From RTX, MRK | 08/12/2025 | |
| IAC Dip Buy Analysis | 07/10/2025 | |
| IAC Total Shareholder Return (TSR): -17.6% in 2024 and -30.9% 3-yr compounded annual returns (below peer average) | 03/07/2025 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to IAC.
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|---|---|---|---|---|---|---|---|
| 03272026 | META | Meta Platforms | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.8% | 8.8% | 0.0% |
| 03062026 | CARG | CarGurus | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.2% | 1.2% | -8.3% |
| 02132026 | YELP | Yelp | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.9% | 17.9% | -5.7% |
| 02132026 | TRIP | Tripadvisor | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.9% | 10.9% | -3.9% |
| 02062026 | OMC | Omnicom | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.9% | 8.9% | -3.7% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.65 |
| Mkt Cap | 9.1 |
| Rev LTM | 5,779 |
| Op Inc LTM | 659 |
| FCF LTM | 455 |
| FCF 3Y Avg | 405 |
| CFO LTM | 694 |
| CFO 3Y Avg | 629 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.5% |
| Rev Chg 3Y Avg | 9.8% |
| Rev Chg Q | 7.2% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 12.1% |
| Op Mgn 3Y Avg | 10.3% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 18.7% |
| CFO/Rev 3Y Avg | 17.3% |
| FCF/Rev LTM | 13.5% |
| FCF/Rev 3Y Avg | 14.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.1 |
| P/S | 1.6 |
| P/EBIT | 16.3 |
| P/E | 17.7 |
| P/CFO | 13.6 |
| Total Yield | 4.2% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.9% |
| 3M Rtn | -5.3% |
| 6M Rtn | -7.6% |
| 12M Rtn | 6.0% |
| 3Y Rtn | 23.3% |
| 1M Excs Rtn | 2.3% |
| 3M Excs Rtn | -3.2% |
| 6M Excs Rtn | -11.5% |
| 12M Excs Rtn | -23.5% |
| 3Y Excs Rtn | -42.1% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| People Inc. | 1,798 | 1,716 | 1,958 | 456 | 214 |
| Search | 388 | 629 | 731 | 873 | 613 |
| Care.com | 370 | 375 | |||
| Emerging & Other | 89 | 320 | 823 | 685 | 470 |
| Intersegment eliminations | -23 | -33 | -42 | -1 | -0 |
| Angi Inc. | 1,359 | 1,764 | 1,685 | 1,468 | |
| Total | 2,622 | 4,365 | 5,235 | 3,700 | 2,765 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| People Inc. | 295 | 223 | -188 | 7 | 50 |
| Care.com | 45 | 56 | |||
| Search | 18 | 44 | 83 | 108 | -249 |
| Goodwill impairment | 0 | -9 | |||
| Emerging & Other | -36 | -14 | -157 | -23 | -71 |
| Depreciation | -41 | -175 | |||
| Stock-based compensation expense | -78 | -117 | |||
| Corporate Adjusted EBITDA loss | -90 | -91 | -138 | -153 | -262 |
| Amortization of intangibles | -142 | -296 | |||
| Acquisition-related contingent consideration fair value adjustments | 0 | ||||
| Angi Inc. | 118 | -76 | -77 | -6 | |
| Total | -29 | -261 | -475 | -137 | -538 |
Price Behavior
Price Behavior
| Market Price | $40.85 | |
| Market Cap ($ Bil) | 3.2 | |
| First Trading Date | 03/11/2016 | |
| Distance from 52W High | -2.0% | |
| 50 Days | 200 Days | |
| DMA Price | $37.71 | $36.85 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 8.3% | 10.8% |
| 3M | 1YR | |
| Volatility | 31.2% | 31.7% |
| Downside Capture | 0.52 | 0.56 |
| Upside Capture | 178.48 | 98.15 |
| Correlation (SPY) | 46.4% | 45.0% |
IAC Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.67 | 1.24 | 1.19 | 1.06 | 1.00 | 1.16 |
| Up Beta | 2.49 | 1.49 | 1.64 | 1.75 | 1.03 | 1.16 |
| Down Beta | 1.03 | 0.94 | 0.57 | 0.82 | 0.95 | 1.00 |
| Up Capture | 90% | 202% | 174% | 128% | 75% | 115% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 14 | 24 | 33 | 71 | 126 | 366 |
| Down Capture | 1% | 81% | 116% | 85% | 111% | 108% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 8 | 18 | 30 | 55 | 123 | 377 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IAC | |
|---|---|---|---|---|
| IAC | 29.2% | 32.9% | 0.82 | - |
| Sector ETF (XLC) | 33.7% | 16.7% | 1.56 | 45.9% |
| Equity (SPY) | 31.2% | 17.3% | 1.47 | 50.8% |
| Gold (GLD) | 60.1% | 27.8% | 1.69 | -5.0% |
| Commodities (DBC) | 29.8% | 16.6% | 1.58 | 12.0% |
| Real Estate (VNQ) | 21.3% | 15.2% | 1.07 | 33.1% |
| Bitcoin (BTCUSD) | -5.7% | 43.7% | -0.01 | 33.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IAC | |
|---|---|---|---|---|
| IAC | -28.5% | 43.5% | -0.62 | - |
| Sector ETF (XLC) | 9.4% | 20.7% | 0.37 | 51.4% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 50.1% |
| Gold (GLD) | 22.1% | 17.8% | 1.02 | 4.7% |
| Commodities (DBC) | 11.8% | 18.8% | 0.52 | 10.5% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 39.3% |
| Bitcoin (BTCUSD) | 4.0% | 56.5% | 0.29 | 25.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IAC | |
|---|---|---|---|---|
| IAC | 9.9% | 40.8% | 0.37 | - |
| Sector ETF (XLC) | 9.4% | 22.3% | 0.50 | 53.6% |
| Equity (SPY) | 13.8% | 17.9% | 0.66 | 51.7% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 7.0% |
| Commodities (DBC) | 8.6% | 17.6% | 0.41 | 15.1% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.22 | 39.3% |
| Bitcoin (BTCUSD) | 67.4% | 66.9% | 1.07 | 16.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/3/2026 | -3.0% | -0.9% | 5.3% |
| 11/3/2025 | -1.7% | 4.5% | 11.1% |
| 8/4/2025 | -13.0% | -13.8% | -8.2% |
| 5/5/2025 | -3.6% | 11.3% | 3.5% |
| 2/11/2025 | 5.8% | 13.7% | 6.2% |
| 11/12/2024 | -12.6% | -14.3% | -16.0% |
| 8/6/2024 | 6.5% | 11.2% | 13.2% |
| 5/7/2024 | -2.3% | 2.3% | -11.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 13 | 10 |
| # Negative | 14 | 10 | 13 |
| Median Positive | 5.8% | 9.1% | 8.1% |
| Median Negative | -3.4% | -7.5% | -11.1% |
| Max Positive | 11.9% | 13.7% | 21.7% |
| Max Negative | -16.3% | -21.4% | -31.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 11/03/2025 | 10-Q |
| 06/30/2025 | 08/04/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 02/28/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/3/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Total Adjusted EBITDA | 260.00 Mil | 297.50 Mil | 335.00 Mil | 20.9% | Raised | Guidance: 246.00 Mil for 2025 | |
| 2026 People Inc. Adjusted EBITDA | 310.00 Mil | 325.00 Mil | 340.00 Mil | -2.3% | Lowered | Guidance: 332.50 Mil for 2025 | |
| 2026 Care.com Adjusted EBITDA | 45.00 Mil | 50.00 Mil | 55.00 Mil | ||||
| 2026 Search Adjusted EBITDA | -5.00 Mil | 2.50 Mil | 10.00 Mil | ||||
| 2026 Emerging & Other Adjusted EBITDA | 0 | 5.00 Mil | 10.00 Mil | ||||
| 2026 Corporate Adjusted EBITDA | -90.00 Mil | -85.00 Mil | -80.00 Mil | ||||
| 2026 Total Operating Income | 95.00 Mil | 142.50 Mil | 190.00 Mil | ||||
Prior: Q3 2025 Earnings Reported 11/3/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 People Inc. Digital Revenue Growth | 7.0% | 8.5% | 10.0% | 6.2% | 0.5% | Higher New | Guidance: 8.0% for Q3 2025 |
| Q4 2025 People Inc. Print Revenue Growth | -25.0% | -22.5% | -20.0% | Lower New | |||
| Q4 2025 Care.com Revenue Growth | -9.0% | -8.0% | -7.0% | -1.0% | Lower New | ||
| Q4 2025 Search Revenue | 35.00 Mil | 40.00 Mil | 45.00 Mil | -33.3% | Lower New | Guidance: 60.00 Mil for Q3 2025 | |
| 2025 People Inc. Operating Income | 180.00 Mil | 190.00 Mil | 200.00 Mil | 71.2% | Raised | Guidance: 111.00 Mil for 2025 | |
| 2025 People Inc. Adjusted EBITDA | 325.00 Mil | 332.50 Mil | 340.00 Mil | 25.0% | Raised | Guidance: 266.00 Mil for 2025 | |
| 2025 Total Adjusted EBITDA | 234.00 Mil | 246.00 Mil | 258.00 Mil | -7.5% | Lowered | Guidance: 266.00 Mil for 2025 | |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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