One-glance verdict
Undervalued
$26.25 our estimate vs market $5.99
Wall Street consensus: $8.00 (-69.5% lower than our fair-value estimate)
77% below our estimate, below the bear case
Fundamentals snapshot
Angi Inc.
ANGI · NMS · Communication Services · Internet Content & Information
Current price
$5.99
52-week range
$4.26 - $14.58
Market cap
$242.93M
Balance sheet
Stretched
3.82x Stretched
Net debt $233.65M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Free cash flow was positive in 8/10 years.
- Risk Return on equity was -26.3% last year — the company lost money on shareholders' equity.
- Risk Net debt grew 8.9% over 3 years.
What this company does
Angi Inc.
Angi Inc. is a company that acts like a digital matchmaker, connecting people who need home services (like plumbers or painters) with qualified professionals. Their main income comes from charging these professionals for leads or memberships, meaning the money mostly comes from the service providers, not directly from the homeowners. This model matters because it shows how they make money in the home services industry.
How the company got here
Angi Inc. has roots dating back to 1995 with the founding of Angie's List, which began as a way for people to find and review local service providers. The company evolved through mergers and acquisitions, most notably the 2017 combination of Angie's List and HomeAdvisor, forming ANGI Homeservices. This merger aimed to create a larger, more comprehensive platform for home services. In March 2021, the company rebranded to Angi Inc., unifying its consumer-facing brands under a single identity. This strategic move was intended to simplify its market presence and better reflect its integrated offerings.
What it actually does
Angi Inc. operates as a digital marketplace that connects homeowners with local service professionals for a wide range of home projects. Think of it as a one-stop shop where you can find, compare, and hire people for tasks like plumbing, electrical work, cleaning, remodeling, and landscaping. The company provides tools and resources to help homeowners research project costs, read reviews, and make informed decisions when hiring. For service professionals, Angi offers a platform to connect with potential customers and grow their businesses.
U.S. Segment
This is Angi's primary business in the United States, where it connects homeowners with local service professionals. It operates under various well-known brands like Angi, Angie's List, and HomeAdvisor. The company makes money by providing these professionals with leads (potential customer requests) and advertising opportunities on its platform. Homeowners use the platform to find professionals for tasks ranging from minor repairs to major renovations.
International Segment
This segment encompasses Angi's operations outside of the United States, primarily in Europe and Canada. Similar to the U.S. segment, it connects local home service professionals with consumers in these regions. The company utilizes various international brands to serve these markets, offering a similar suite of services for home repair, maintenance, and improvement projects. This segment represents a smaller portion of Angi's overall business compared to its U.S. operations.
What management is betting on now
Angi's current strategy is focused on improving the overall customer experience for both homeowners and service professionals, with a strong emphasis on AI (Artificial Intelligence). Management is investing in rebuilding its platform to be AI-native, aiming to enhance how homeowners find and match with the right professionals. This includes developing AI tools to improve the efficiency of software development, personalize customer interactions, and optimize marketing efforts. The goal is to drive profitable growth by ensuring "jobs are done well" and by making the platform more efficient and effective for everyone involved.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$18.81M
FY2024 Q4
$27.09M
FY2025 Q1
$-15.69M
FY2025 Q2
$44.87M
FY2025 Q3
$4.93M
FY2025 Q4
$86.34M
FY2026 Q1
$-33.63M
FY2026 Q2
$12.23M
Revenue
$248.00M
Net income
$-230.67M
Diluted EPS
-5.70
Operating cash flow
$27.24M
Free cash flow
$12.23M
Fetching…
Sources
Revenue
$238.15M
Net income
$-8.98M
Diluted EPS
-0.22
Operating cash flow
$-17.90M
Free cash flow
$-33.63M
Fetching…
Sources
Revenue
$240.77M
Net income
—
Diluted EPS
0.18
Operating cash flow
$105.07M
Free cash flow
$86.34M
Fetching…
Sources
Revenue
$265.63M
Net income
—
Diluted EPS
0.23
Operating cash flow
$20.98M
Free cash flow
$4.93M
Fetching…
Sources
Revenue
$278.22M
Net income
$10.90M
Diluted EPS
0.23
Operating cash flow
$57.12M
Free cash flow
$44.87M
Fetching…
Sources
Revenue
$245.91M
Net income
$15.11M
Diluted EPS
0.30
Operating cash flow
$-3.11M
Free cash flow
$-15.69M
Fetching…
Sources
Revenue
$267.87M
Net income
—
Diluted EPS
-0.01
Operating cash flow
$40.04M
Free cash flow
$27.09M
Fetching…
Sources
Revenue
$296.72M
Net income
—
Diluted EPS
0.07
Operating cash flow
$30.92M
Free cash flow
$18.81M
Fetching…
Sources
Is it cheap or expensive?
Fair value $26.25 vs current price $5.99
Wall Street consensus is the average analyst price target: $8.00 (-69.5% lower than our fair-value estimate).
Our most-likely fair value is $26.25 a share — about 338.2% above today's price of $5.99, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Stretched
Net debt $233.6M. Interest coverage 3.8x.
Net debt
$233.65M
Interest coverage
3.82x
Angi Inc.'s profit covers its interest bill about 3.8 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Stretched
Worse cushion
Baseline
Better cushion
ANGI
BASELINE
Angi Inc.
Total debt $422.35M Interest coverage 3.82x This is the baseline the peer rows are being compared against.
Total debt $123.30M Interest coverage 13.37x +250% vs ANGI Carries about 3.5x more debt cushion than ANGI.
Total debt $558.00M Interest coverage -1.78x -100% vs ANGI This peer has almost no interest-payment cushion compared with ANGI.
Total debt $246.05M Interest coverage 1.63x -57% vs ANGI Carries about 2.3x less debt cushion than ANGI.
What you should know
The case for and against ANGI
1 Reward
2 Risks
Rewards
-
Free cash flow was positive in 8/10 years.
Risks
-
Return on equity was -26.3% last year — the company lost money on shareholders' equity.
-
Net debt grew 8.9% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
6.92x
P/B
0.35x
P/S
0.24x
EV/EBITDA
4.30x
PEG ratio
117.60x
Profitability
How much profit each dollar creates
Gross margin
95.7%
Operating margin
0.9%
Net margin
-22.3%
ROE
-26.3%
ROA
1.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.61x
Current ratio
1.20x
Quick ratio
1.05x
Total debt
$422.35M
Total cash
$188.70M
Growth
How the business has been compounding
Revenue TTM
$992.55M
Revenue 5Y CAGR
-10.7%
EPS TTM
-5.55
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$135.39M
Free CF TTM
$45.47M
FCF margin
4.6%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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