Buybacks, stock pay and share count
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 1 at-the-market program, 1 dividend or employee plan registration, 1 shelf registration; also 4 notes offerings. Latest at-the-market program for common stock: Feb 17, 2026, up to $500.0M.
- Apr 10, 2026 100,000 shares for a dividend reinvestment or employee plan 424B5
- Feb 17, 2026 At-the-market program: up to $500M of common stock 424B5
- Feb 17, 2026 Shelf registration: shares and other securities, amount not fixed S-3ASR
Every offering filing →“This prospectus supplement relates to up to 100,000 shares of Common Stock to be offered for purchase under the Plan.”
424B5, Apr 10, 2026 ↗
Bought back
-
no buyback line in the 10-K XBRL, year to Dec 31, 2025
Where the cash came from and where it went
FY2023 to FY2025, from the cash flow statements in the 10-Ks, added up.
Came from
| Operating cash flow | $2.3B |
| Shares sold | $98.1M |
| Other, net investments bought and sold, other financing and investing lines, and exchange rates |
$143.9M |
Went to
| Acquisitions | $852.6M |
| Buybacks | $220.1M |
| Dividends | $1.5B |
| Added to cash | $51.9M |
Each number is a line of the cash flow statement as the company tagged it. "Other, net" is what those lines do not cover (investments bought and sold, other financing and investing lines, and exchange rates); Tickdelta does not estimate it.
What the 10-Ks show for each CEO's years
The CEO of each fiscal year as named in the proxy's pay versus performance table, and what the 10-Ks show for those years.
Ms. Palmer
- Operating cash flow
- $3.7B
- Acquisitions
- $1.6B
- Buybacks
- $295.5M
- Dividends
- $2.3B
- Stock-based pay
- $92.1M
- Revenue since FY2020
- +53%
- Debt since FY2020
- +$816.2M
- CEO pay (reported)
- $45.6M
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2025-12-31 | - | $511.6M | $19.5M | $98.2M | - |
| 2024-12-31 | $200.1M | $490.4M | $23.5M | - | - |
| 2023-12-31 | $20.0M | $453.1M | $20.1M | -$33K | - |
| 2022-12-31 | $75.4M | $428.3M | $16.5M | $61.3M | - |
| 2021-12-31 | - | $403.1M | $12.5M | $82.5M | - |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: dividends = PaymentsOfDividendsCommonStock; sbc = ShareBasedCompensation; issuance = ProceedsFromIssuanceOfCommonStock.