Angi
ANGI on Nasdaq. Angi sells home repair and improvement services to homeowners and leads to contractors. Market value $673m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Media & telecom stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-1.84 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -2 cents a year. Above 10 is good.
Quality score: 32 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$5.96 a share, 40% above its 1-year low
Over the past year the price has ranged from $4.26 to $15.88.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $5 million in the past 12 months, $45 million in the year to December 2025.
| Revenue | |||||
| Revenue | $1.6bn | $1.8bn | $1.4bn | $1.2bn | $1.0bn |
| Operating margin | |||||
| Operating margin | -4.2% | -4.3% | -2.0% | 1.8% | 6.3% |
| Debt to equity | |||||
| Debt to equity | 0.44 | 0.47 | 0.48 | 0.47 | 0.54 |
| Shares outstanding | |||||
| Shares outstanding | 0.50bn | 0.50bn | 0.05bn | 0.05bn | 0.05bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt0.54× equity
- Revenue growth, five yearsShrinking, 6.8% a year
- Buying back its own sharesYes, 91% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $248 million last quarter, down 11% on a year ago.
- A loss of $231 million, after a profit of $11 million a year ago.
- It loses 22 cents on each $1 of sales, after keeping 4 cents a year earlier.
- Over the past 12 months it spent $5 million more cash than it brought in. A year earlier it had $75 million spare.
- 15% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $210 million more than cash, up from $135 million a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $297m |
| December 2024 | $268m |
| March 2025 | $246m |
| June 2025 | $278m |
| September 2025 | $266m |
| December 2025 | $241m |
| March 2026 | $238m |
| June 2026 | $248m |
| Quarter to | Amount |
|---|---|
| September 2024 | $35m |
| December 2024 | -$1m |
| March 2025 | $15m |
| June 2025 | $11m |
| September 2025 | $11m |
| December 2025 | $7m |
| March 2026 | -$9m |
| June 2026 | -$231m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 20 February 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 175 funds in all.
- Davis Selected AdvisersChris Davis
- Value
- $6m
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Davis Selected AdvisersChris Davis | $6m | <0.1% | |
| LSV Asset ManagementJosef Lakonishok | $4m | <0.1% | Cut |
| Royce & AssociatesChuck Royce | $136,059 | <0.1% | Added |
Largest holders overall
- BlackRock$28mAdded
- Pale Fire Capital SE$23m
- D. E. Shaw$10mCut
- Acadian Asset Management$9mAdded
- FMR$9mAdded
- Vanguard Capital Management$8mCut
- Flax Pond Capital$8mAdded
- Goldman Sachs Group$6mCut
- Davis Selected Advisers$6m
- AQR Capital Management$5mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- BlackRock Portfolio Management LLCPassive investor12.5%Since 30 September 2026
- Pale Fire Capital SEPassive investorat least 9.8%+1.5 pts(filed with 4 related holders)Since 27 February 2026
- BlackRock, Inc.Passive investor7.1%−6.1 ptsSince 31 March 2026
- Stier JenniferPassive investorat least 7.0%−0.6 pts(filed with 1 related holder)Since 30 June 2026
- BARRY DILLERPassive investor6.8%Since 31 March 2025
What they said
Mr. Diller acquired beneficial ownership of the securities described in this Report on Schedule 13D in connection with the completion of the Spin-Off on March 31, 2025. Depending on market conditions and other factors, Mr. Diller may from time to time: (i) purchase additional…
Read the filing - ArrowMark Colorado Holdings, LLCPassive investorSold down below 5%Since 31 March 2025
- Pale Fire Capital SICAV a.s.Passive investorSold down below 5%Since 31 March 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- IAC Inc.Sold down below 5%Since 31 March 2025
What they said
The information set forth in Item 4 of the Initial Schedule 13D is hereby amended and supplemented as follows: On March 31, 2025, IAC converted all of the 41,701,064 shares of ANGI Class B Common Stock it then held and which constituted all of the outstanding shares of ANGI…
Read the filing - FMR LLCPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock Portfolio Management LLC Passive investor | 12.5% | 30 September 2026 | |
Pale Fire Capital SE Passive investor | at least 9.8%+1.5 pts (filed with 4 related holders) | 27 February 2026 | |
BlackRock, Inc. Passive investor | 7.1%−6.1 pts | 31 March 2026 | |
Stier Jennifer Passive investor | at least 7.0%−0.6 pts (filed with 1 related holder) | 30 June 2026 | |
BARRY DILLER Passive investor | 6.8% | 31 March 2025 | What they saidMr. Diller acquired beneficial ownership of the securities described in this Report on Schedule 13D in connection with the completion of the Spin-Off on March 31, 2025. Depending on market conditions and other factors, Mr. Diller may from time to time: (i) purchase additional… Read the filing |
ArrowMark Colorado Holdings, LLC Passive investor | Sold down below 5% | 31 March 2025 | |
Pale Fire Capital SICAV a.s. Passive investor | Sold down below 5% | 31 March 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
IAC Inc. | Sold down below 5% | 31 March 2025 | What they saidThe information set forth in Item 4 of the Initial Schedule 13D is hereby amended and supplemented as follows: On March 31, 2025, IAC converted all of the 41,701,064 shares of ANGI Class B Common Stock it then held and which constituted all of the outstanding shares of ANGI… Read the filing |
FMR LLC Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 20 Feb 2026, plus the 10-Q filed 4 Aug 2026 and 7 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 6.8% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.