Filing Flows › UiPath (PATH) › Takeover & LBO
Is UiPath (PATH) a takeover target?
A leveraged buyout at today's price plus 30% ($17.85 a share) would return about 0% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%. Historically 4.0% of companies with its figures were bought within a year (0.79× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $17.85 | today's $13.73 plus 30% |
| × shares | 523.0 million | |
| = Equity value | $9.3B | |
| + Debt refinanced | $0 | |
| − Cash | $1.3B | |
| = Enterprise value | $8.1B | 45.0× EBITDA of $179M |
| Fees | $161M | 2% of the price |
| New debt | $984M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $7.2B | 88% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $1.9B | $193M | $75.3M | $82.3M | $902M |
| Year 2 | $2.0B | $206M | $69.0M | $100M | $802M |
| Year 3 | $2.1B | $218M | $61.3M | $118M | $684M |
| Year 4 | $2.2B | $227M | $52.3M | $136M | $548M |
| Year 5 | $2.2B | $234M | $41.9M | $153M | $395M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 33.0× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $7.7B | |
| − Debt left | $395M | |
| = Buyer's equity | $7.3B | |
| Money multiple | 1.01× | on $7.2B put in |
| Buyer's yearly return (IRR) | 0.2% |
Price against return
What the buyer makes at other premiums over today's $13.73.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $15.10 | 4.9% |
| 20% | $16.48 | 2.4% |
| 30% | $17.85 | 0.2% |
| 40% | $19.22 | −1.7% |
| 50% | $20.59 | −3.4% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $1.7B | |
| EBITDA, last 12 months | $179M | 10.4% of revenue |
| Depreciation and amortization | $26.0M | |
| Capital spending | $10.3M | |
| Debt | $0 | |
| Cash | $1.3B | |
| Share price | $13.73 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 8.0% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, UiPath would cost about $17.85 a share, $9.3B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $15.38 | $8.0B |
| Median | 30% | $17.85 | $9.3B |
| High end (a quarter paid more) | 31% | $17.99 | $9.4B |
The odds, from history
Historically 4.0% of companies with its figures were bought within a year (0.79× the average). Its figures put it in decile 4 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
UiPath's latest quarter
UiPath, Q2 FY27: revenue $410M (+13% year over year), operating margin 7.7%, net earnings $36.1M, operating cash flow $30.7M. The chart follows the revenue to costs, profit and cash.
Questions
Is UiPath being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy UiPath?
A leveraged buyout at today's price plus 30% ($17.85 a share) would return about 0% a year to a private-equity buyer over 5 years; no price, however low, gets a buyer to 20%.
What would a takeover of UiPath cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, UiPath would cost about $17.85 a share, $9.3B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.