Filing Flows › SharkNinja (SN) › Takeover & LBO
Is SharkNinja (SN) a takeover target?
A leveraged buyout at today's price plus 30% ($291.58 a share) would return a loss of about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $138.59 a share (−38% against today's $224.29). Historically 2.2% of companies with its figures were bought within a year (0.44× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $291.58 | today's $224.29 plus 30% |
| × shares | 141.5 million | |
| = Equity value | $41.3B | |
| + Debt refinanced | $707M | |
| − Cash | $488M | |
| = Enterprise value | $41.5B | 32.2× EBITDA of $1.3B |
| Fees | $830M | 2% of the price |
| New debt | $7.1B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $35.2B | 83% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $7.5B | $1.3B | $542M | $436M | $6.7B |
| Year 2 | $7.7B | $1.4B | $509M | $487M | $6.2B |
| Year 3 | $7.9B | $1.4B | $472M | $543M | $5.6B |
| Year 4 | $8.2B | $1.5B | $430M | $603M | $5.0B |
| Year 5 | $8.4B | $1.5B | $384M | $667M | $4.4B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 24.8× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $37.1B | |
| − Debt left | $4.4B | |
| = Buyer's equity | $32.7B | |
| Money multiple | 0.93× | on $35.2B put in |
| Buyer's yearly return (IRR) | −1.5% |
Price against return
What the buyer makes at other premiums over today's $224.29; the IRR reaches 20% at $138.59 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $246.72 | 2.6% |
| 20% | $269.15 | 0.4% |
| 30% | $291.58 | −1.5% |
| 40% | $314.01 | −3.2% |
| 50% | $336.44 | −4.7% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $7.3B | |
| EBITDA, last 12 months | $1.3B | 17.8% of revenue |
| Depreciation and amortization | $158M | |
| Capital spending | $186M | |
| Debt | $707M | |
| Cash | $488M | |
| Share price | $224.29 | on Nov 6, 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 3.0% 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 22% 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 on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, SharkNinja would cost about $297.18 a share, $42.1B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $269.15 | $38.1B |
| Median | 32.5% | $297.18 | $42.1B |
| High end (a quarter paid more) | 51.8% | $340.47 | $48.2B |
The odds, from history
Historically 2.2% of companies with its figures were bought within a year (0.44× the average). Its figures put it in decile 1 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.
SharkNinja's latest quarter
SharkNinja, Q3 2026: revenue $2.0B (+21% year over year), operating margin 22.4%, net earnings $338M, operating cash flow −$168M. The chart follows the revenue to costs, profit and cash.
Questions
Is SharkNinja being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy SharkNinja?
A leveraged buyout at today's price plus 30% ($291.58 a share) would return a loss of about 1% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $138.59 a share (−38% against today's $224.29).
What would a takeover of SharkNinja cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, SharkNinja would cost about $297.18 a share, $42.1B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.