At a glance
People Inc is worth $2.69B. Revenue fell 8.7% to $2.39B in fiscal 2025, at a loss. It pays no dividend; it spent $516.1M buying back its shares over FY2021–FY2025. The stock returned +13.0% over the past year with dividends reinvested and −22.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 44.6% in the 2020 crash (S&P 500: 33.7%) and 66.5% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
People Inc, formerly IAC Inc., is mostly a publisher. Its publishing segment, also named People Inc., brought in $1.76 billion, or 73.6% of the company's $2.39 billion in revenue, in the fiscal year ended December 31, 2025. It runs more than 40 brands, including PEOPLE, Allrecipes, Better Homes & Gardens, Southern Living, Travel + Leisure and Investopedia, and says more than 175 million people turn to them each month.
Advertising makes up a significant share of revenue. Its D/Cipher tool targets digital ads based on what a reader seems to want. It also earns commissions when articles send readers to retailers who make a sale. It collects licensing fees too, from Apple News+ and from artificial intelligence (AI) use of its content. The Print business had 18 magazines as of December 31, 2025, put out about 425 special-interest issues that year, and ended it with about 15.4 million active subscriptions.
Care.com, an online service connecting families with caregivers for children, aging parents, pets and homes, supplied 14.5% of revenue. A Search segment added 8.9% and Emerging & Other 3%. The annual report also lists minority stakes in MGM Resorts International and car-sharing marketplace Turo, plus control of Vivian Health, a healthcare jobs platform. On March 31, 2025, the company spun off Angi, handing its Angi shares to stockholders.
Price history
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PPLI +13.0% over the year to Oct 29, 2026, total return with dividends reinvested.
How it makes money
By business segment
| People Inc. | $1.76B | 73.6% |
| Care.com | $347.4M | 14.5% |
| Search | $212.9M | 8.9% |
| Emerging & Other | $71.0M | 3% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $430.8M, down 3.6% from a year earlier, and net income was $-687.5M.
- For fiscal 2025, revenue was $2.39B (-8.7% year over year) with a -4.3% net margin.
Financial health check
| Operating margin | -4.1% weak |
|---|---|
| Free cash flow margin | 1.9% watch |
| Return on equity (FY2025) | -2.2% weak |
| Return on assets (FY2025) | -1.4% weak |
| Net cash (cash minus debt) | $-90.4M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $2.76B | $269.7M | $93.9M |
| FY2021 | $3.70B | $597.5M | $28.7M |
| FY2022 | $5.24B | $-1.17B | $-222.5M |
| FY2023 | $2.92B | $265.9M | $95.9M |
| FY2024 | $2.62B | $-539.9M | $339.5M |
| FY2025 | $2.39B | $-104.0M | $44.8M |
Valuation snapshot
| Market value | $2.69B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| PPLI price data to Oct 29, 2026 | -8.2% | +13.0% | +1.3% | -22.2% | +11.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -8.2% |
| 2025 | +9.8% |
| 2024 | -17.6% |
| 2023 | +18.0% |
| 2022 | -66.0% |
| 2021 | +3.5% |
| 2020 | +131.8% |
| 2019 | +36.1% |
| 2018 | +49.7% |
| 2017 | +88.7% |
| 2016 | +7.9% |
| 2015 | +0.8% |
| 2014 | -9.9% |
| 2013 | +48.2% |
| 2012 | +12.6% |
| 2011 | +48.9% |
| 2010 | +40.1% |
| 2009 | +30.2% |
| 2008 | -32.8% |
| 2007 | -27.6% |
| 2006 | +31.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 48% over that stretch · deepest drop along the way 51.4%, back to its old high 19.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 44.1% over that stretch · deepest drop along the way 44.6%, back to its old high 1.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 66% over that stretch · deepest drop along the way 66.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-11-03 to 2026-11-03 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| Helikon Investments Limited | 11.44% | Sep 30, 2026 |
| JPMORGAN CHASE & CO. | 8.8% | Jun 30, 2025 |
| Aristeia Capital, L.L.C. | 7.96% | Dec 31, 2025 |
| HighSage Ventures LLC | 7.3% | Jun 30, 2025 |
| THE GOLDMAN SACHS GROUP, INC. | 5.2% | Jun 30, 2026 |
| Vanguard Portfolio Management | 4.93% | Sep 30, 2026 |
| Southeastern Asset Management, Inc. | 4.6% | Jun 30, 2026 |
ETFs with the most weight in PPLI
| PSCU Invesco S&P SmallCap Utilities & Communication Services ETF | 3.8% |
| SOCL Global X Social Media ETF | 1.16% |
| JPSV JPMorgan Active Small Cap Value ETF | 1.16% |
| NIXT Research Affiliates Deletions ETF | 0.57% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.47% |
| LST Leuthold Select Industries ETF | 0.38% |
| OASC OneAscent Small Cap Core ETF | 0.34% |
| USVM VictoryShares US Small Mid Cap Value Momentum ETF | 0.29% |
What could go wrong
- Heavy reliance on Google and search traffic. The company has long relied on search engines to send readers to its sites. Past changes to search rankings and layouts have cut its visibility, and some businesses depend on agreements with Google.
- AI answers could replace website visits. AI tools are changing how people find information. If chatbots and AI search summaries answer questions directly, fewer people may visit its recipe, health and lifestyle sites, cutting the ad revenue those visits produce.
- Print revenue keeps shrinking. The company says its Print business, which had about 15.4 million active subscriptions at the end of 2025, faces ongoing revenue decline along with structural, cost and operational challenges.
- Diller family controls a large voting bloc. Barry Diller and family hold all Class B shares, which carry ten votes each, giving them about 46% of voting power as of February 2026. They can sway board elections and mergers.
- Debt exceeds cash and investments. As of June 30, 2026, total debt was about $1.41 billion against $1.11 billion in cash and investments. Some debt has variable interest rates, and the parent may not freely use its publishing unit's cash.
- Ad sales fall when the economy weakens. Advertising is a significant portion of revenue, so results depend on advertisers' budgets. In an economic slowdown, companies tend to cut ad spending, which can reduce sales across its brands.
Recent events
- Quarterly results released
- Other company announcement
- Investor presentation or announcement
- Other company announcement
- Quarterly results released; Executive or board change
- Shareholder vote results
- Executive or board change; Other company announcement
- Bylaws or fiscal year changed
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
People Inc paid no cash dividends from FY2021 through FY2025, and its dividend yield was 0% as of October 29, 2026. An income investor would get no regular cash from the shares and would have to trim the holding to fund spending. Holders did receive Angi stock in the March 31, 2025 spin-off, but that was a one-time distribution, not a cash payout. The company has instead returned cash through buybacks, meaning it repurchases its own shares: about $516 million over FY2021–FY2025, including $315 million in FY2025 and none in FY2024.
In past downturns, the stock fell 51.4% in the 2008 financial crisis, recovering about 20 months after the low, and 44.6% in the 2020 COVID crash, recovering about 1.5 months after the low. In the 2022 market decline it fell 66.5% and had not regained its January 2022 peak as of October 29, 2026. A single stock like this carries more risk than a diversified fund.
Questions investors ask
Does People Inc pay a dividend?
No. People Inc paid no cash dividends from FY2021 through FY2025, and its dividend yield was 0% as of October 29, 2026. The company has returned cash through share buybacks instead, spending about $516 million over those five fiscal years, including $315 million in FY2025. Buybacks can raise each remaining share's claim on profits, but they give holders no regular income. Shareholders received Angi shares in the March 31, 2025 spin-off, a one-time stock distribution.
How does People Inc make money?
Mostly from publishing. Its People Inc. segment, home to brands such as PEOPLE, Allrecipes and Better Homes & Gardens, produced 73.6% of the $2.39 billion in revenue for fiscal 2025. It earns money from digital ads, commissions when readers make purchases through its links, content and brand licensing, and magazine subscriptions and newsstand sales. Care.com, which connects families with caregivers, added 14.5%, the Search segment 8.9% and Emerging & Other 3%.
Is People Inc the same company as IAC?
Yes. People Inc was formerly named IAC Inc., and before that IAC/InterActiveCorp. Its annual report for fiscal 2025, filed February 20, 2026, still used the IAC name. Over the years IAC split off businesses such as Expedia, Match Group and Vimeo into their own public companies, and it spun off Angi on March 31, 2025. The publishing arm combines Dotdash, formerly About.com, with Meredith's publishing brands, acquired in December 2021.
Is People Inc profitable?
No, not for its latest full fiscal year. In the year ended December 31, 2025, it posted a net loss of $104 million on revenue of $2.39 billion, down 8.7%, and an operating loss of $97 million. Free cash flow, the cash left after running the business and paying for capital investments, was positive at $44.8 million. For the quarter ended June 30, 2026, net income was $507 million, more than that quarter's $437 million revenue, so most of it came from something other than day-to-day business.
Who controls People Inc?
Barry Diller and his family have significant control. They hold all of the Class B shares, which carry ten votes each, plus some common shares, giving them about 46% of total voting power based on shares outstanding on February 2, 2026. That lets them influence board elections and decisions such as mergers. Among large outside holders, Helikon Investments reported a stake of 11.44% as of September 30, 2026, and Aristeia Capital 7.96% as of December 31, 2025.