Callouts & quotes from 1,434+ activist slides

"And had it not capitalized all these expenses, margins would have fallen even further."

"Match's cumulative incremental adjusted EBITDA margin from 2019-2024E was only 33.5%!"

"We believe Viator has the potential to reach OTA-like margins over the next few years"

"We believe Viator has the potential to reach OTA-like margins over the next few years"

"It may be hard for athena to achieve much margin growth in such a competitive market."

"BWLD's franchise operation = a high margin royalty stream that grows without capital"

"BNY Mellon went from a 2%+ margin surplus versus State Street to a 5% margin deficit"

"Higher revenue and margin, despite significantly lower industry aircraft production"

"Higher revenue and margin, despite significantly lower industry aircraft production"

"Numerous Signs of Aggressive Accounting and Financial Policies To Embellish Margins"

"Mall segment Adjusted EBITDA margins in 2005 were 3%, having fallen ~60% since 2003"

"GE improved industrial EBIT margins ~250 basis points since 2012 (to ~14% in 2014)"

"We believe Bristol-Myers has a potential opportunity to improve its gross margins."

"Operating margins have severely eroded despite a robust macroeconomic environment."

"PepsiCo's 10.1% EBIT margin outside the Americas suggests significant opportunity."

"PepsiCo’s EBIT(1) margin (before advertising expense) is well below the peer group"

"The CEO evaded the question: " I cannot give you any information on gross margin.""

""did not do anything for less than... 25-30% margin, gross." — Former AJR employee"

"The midpoint of Genius’ incremental margin is approximately half its prior figure"

"Best-in-class margin target is still below levels Southwest historically achieved"

"Substantial majority of ES's revenue base has structurally high potential margins"

"Best-in-class margin target is still below levels Southwest historically achieved"

"Oatly owes investors a precise explanation of why its margins fell so materially."

"Best-in-class margin target is still below levels Southwest historically achieved"

"2010 margins impacted by acquisition of lower margin business during fiscal year."

"Best-in-class margin target is still below levels Southwest historically achieved"

"Best-in-class margin target is still below levels Southwest historically achieved"

"We believed APD’s EBIT margins (15.5%) could approach comparable Praxair (22.5%)"

"We believed APD’s EBIT margins (15.5%) could approach comparable Praxair (22.5%)"

"didn't do anything for less than...25, 30% gross margin. — A former AJR employee"

"Improved labor efficiency will improve margins and enhance the guest experience"

"DuPont's EBITDA margins have lagged peers in 5 of 7 segments (~64% of revenues)"

"DuPont’s EBITDA margins have lagged peers in 5 of 7 segments (~64% of revenues)"

"Huntsman operates at a significant Adjusted EBITDA margin deficit to its peers."

"Huntsman operates at a significant Adjusted EBITDA margin deficit to its peers."

"Huntsman operates at a significant Adjusted EBITDA margin deficit to its peers."

"DuPont’s EBITDA margins have lagged peers in 5 of 7 segments (~64% of revenues)"

"DuPont’s EBITDA margins have lagged peers in 5 of 7 segments (~64% of revenues)"

"Uber’s current EBITDA margin of 4% is just over half of its 7% long-term target"

"Uber's current EBITDA margin of 4% is just over half of its 7% long-term target"

"DuPont’s EBITDA margins have lagged peers in 5 of 7 segments (~64% of revenues)"

"They ship something and they know that it's consuming all the margin they have."

"At scale, when growth slows, Ultimate's structural margins should be 32% - 40%"

"After missing its prior margin targets, Autodesk tried to buy itself more time"

"Between 2014 – 2018, Amgen successfully improved operating margins by 1,500bps"

"By under-reserving for bad debts, FND may be overstating revenues and margins."

"Amdocs shows less variation in its margin from 2013-2018 by over a factor of 5"

"Absent these unexplained savings, segment margins declined from 16.9% to 9.1%."

"Margins have been stuck at ~21% but should be higher given $1bn+ revenue scale"

"Historical 650 bps+ operating margin gap to comparable Praxair could be closed"

"After missing its prior margin targets, Autodesk tried to buy itself more time"

"Historical 650 bps+ operating margin gap to comparable Praxair could be closed"

"Excluding the ethylene spreads, PTOI was flat and margins only expanded ~58bps"

"SiTel generated margins between 12% - 19%, even while spending on new products"

"Reported financials have overstated margins due to a lack of transfer pricing"

"Over time, we believe Vertiv can reach 20% adjusted operating profit margins."

"SGH has obfuscated the margins of its segments through simple non-disclosure."

"We Believe There is a Substantial Margin Improvement Opportunity at Autodesk"

"Consistently lowest transportation segment operating profit margin vs. peers"

"Goodyear has consistently lowered and pushed out margin improvement promises"