Callouts & quotes from 1,434+ activist slides

"How difficult is it to manufacture a scale and a pipette, and more importantly, how much margin are there in these low-priced products?"

"We See Multiple Headwinds To Margins And Believe Rollins Is Underinvesting In Its Business While Technology Equalizes The Playing Field"

"Shareholders of UK-listed companies have previously approved transactions involving a United States relisting (by significant margins):"

"While management is making progress with their plan to increase margins to 17-18% by 2018, we believe optimized margins are far higher"

"We urge the Company to embark on a cost cutting program that addresses both margins and the disposal of excess underperforming assets."

"No companies in the battery value chain come close to achieving 78% net margins, or even 78% EBITDA or gross margins, for that matter."

"Until its IPO, Box achieved gross margins in excess of 75%, and management suggested it would remain at this level over the long-term."

"The last quote from former CFO Meera Rao in Jan 2016 about new products not translating into higher ASPs or margins is very revealing."

"Layering ADP’s current operating expense burden of ~39% on competitor gross margins of 73% – 85% yields operating margins of 34% – 46%"

"While the change is subtle, it opens the door for management to potentially delay painful cost revisions that ultimately harm margins."

"<14x P/E for what we believe is one of the world's best industrial companies WITH potential margin and capital structure opportunities"

"It is odd that as Olam’s sales and inventory have grown substantially, its quarter end margin balances have gone negative three times."

"While management is making progress with their plan to increase margins to 17-18% by 2018, we believe optimized margins are far higher"

"We believed these targets were a step in the right direction, but left room for outperformance, particularly around margin expansion."

"1) Servicing (~85% of EBIT) has grown revenue +6% p.a. 2) (+) Gross margins 3) (-) SG&A ratios 4) Alstom upside 5) Capital allocation"

"We believed these targets were a step in the right direction, but left room for outperformance, particularly around margin expansion."

"We believed these targets were a step in the right direction, but left room for outperformance, particularly around margin expansion."

"In comparing the gross margins of the trading company to Henan Ruili, it is even clearer that Henan Ruili's margins are problematic."

"However, by adjusting results for the cash costs of capitalized development expenses, PowerSchool's margin improvement is just 1.6%."

"Employer Services’ growth can increase from ~2-4% to ~7%+, while operating margins should increase from ~19% today to 35% or greater"

"Notice he said economics were holding, but at the time LSPD didn't disclose margins. Now with hindsight, we see they worsened a lot!"

"Employer Services’ growth can increase from ~2-4% to ~7%+, while operating margins should increase from ~19% today to 35% or greater"

"Employer Services’ growth can increase from ~2-4% to ~7%+, while operating margins should increase from ~19% today to 35% or greater"

"If management can successfully execute on a margin improvement plan, we believe GoDaddy shareholders will be meaningfully rewarded."

"We apply BOOT's gross margin and SG&A guidance that was issued for Q4'23. We think the most reasonable EBIT would have been $54.8M."

"Our intense fundamental and forensic due diligence uncovered evidence of slowing U.S. growth, and margin pressure being covered-up."

"Among global polyurethane manufacturers, Huntsman has the greatest exposure to differentiated and higher-margin downstream systems."

"BILL's operating margins are well below that of peers, suggesting meaningful opportunity for improved efficiency and profitability."

"If management can successfully execute on a margin improvement plan, we believe GoDaddy shareholders will be meaningfully rewarded."

"This unexplained change in accounting policy raises significant questions about IQE's accounting practices, and historical margins."

"With stagnant sales, MGPI’s inventory turnover has been falling for many quarters, and yet its gross margins are near record highs."

"If management can successfully execute on a margin improvement plan, we believe GoDaddy shareholders will be meaningfully rewarded."

"We believe there is a significant margin opportunity that is both larger than management projects and can be achieved more quickly"

"Previous P&G leadership believed a 52% gross margin was only the starting point for a company that had not yet reached peer levels"

"How does Dollarama support EBITDA margins more than double those of its peer group, and in line with premium global retail brands?"

"Sony Pictures is among the largest film/TV content production studios globally, but has potential for operating margin improvement"

"While RFID margin percentage may remain stable, topline pricing pressure will reduce the absolute level of Avery's profitability."

"Despite generating higher sales per square foot than OfficeMax, Office Depot’s operating margins are less than half of OfficeMax."

"ADP's long-term EPS algorithm should drive modest margin expansion over time but will continue to leave ADP competitively exposed"

"EPS product mix – more fastener and casting sales, fewer forgings – actually suggests margins should be higher not lower than PCC"

"Lasertec reports the highest EBIT margin of any semicap equipment company in the world with more than one billion USD of revenue."

"In recent years, we have pushed the [soup] business too hard on pricing and margin. — Board member & interim CEO Keith McLoughlin"

"“We were told, ‘Figure out product market fit and we’ll figure out margins later.’” — Former Samsara Director, Product Management"

"A former employee we spoke with, and an industry expert, both agreed that the margins in this business have been under pressure."

"Management is expecting to achieve tremendous efficiencies to reach EBITDA margins >2x the industry average on below-average GPU"

"We sense that Bumble, Chegg, and Match are good comps given similar consumer subscription models and margin profiles. — JPMorgan"

"The CEO forecasted margin improvements from the project in early 2019, but instead Non-GAAP EBIT margins fell 150 basis points."

"We believe Commvault has the ability to achieve its long-standing mid-20s operating margin target within the next three years."

"Durable healthcare products are more comparable to high-margin consumer products than to traditional, patented pharma products"

"The footnote reveals that 2022 acquisitions added $58.2 million of Adj. EBITDA (implying 11.2% margin) vs. 17.1% consolidated."

"If P&G can grow its top-line annually by 5% and achieve a 24% EBIT margin by FY 2016, it can generate $6 of earnings per share"

"Given the lack of controls exhibited by these charges, it is not surprising that Investment Management has had sub-30% margins"

"How does Mettler achieve consolidated EBITDA margins higher than Lab peers, when 50% of its business is in lower margin areas?"

"BILL’s ‘Rule of 40’ Score has been stagnant for 3 years as revenue growth has slowed and margins remain well below peer levels"

"We view the level of potential value creation to be marginal. Any partial or JV-type divestments would be even less catalytic."

"In fact, Bunge's R&D spending and margin pales in comparison to peers that disclose spending and has been contracting sharply."

"we believe Commvault has the ability to achieve its long-standing mid-20s operating margin target within the next three years."

"AMT has not been forthcoming about its exposure to ground rent increases, which we expect to materially impact AMT’s margins."

"Target to increase EBIT margins from 16% to ~22.5% to achieve performance levels in line with its well-run competitor Praxair"

"In 2005, Borders' consolidated Adjusted EBITDA margins fell to 7.4% from the previous four-year average of approximately 8.6%"