[wraaath]

GEO Group also operates similar facilities in Australia, and is publicly traded in the US stock market under the symbol GEO. For the quarter ending 12/31/2024, they had top line revenue of 608M, but pre-tax income came in at 24M, and carrying debt of 2.3B. Somehow with such thin profit margins, their stock is trading at a 4B market capitalization and carrying a 128 P/E (by comparison, Google carries a 20 P/E, Meta 24), i.e. "richly overvalued". It would be a damned shame if Australia started re-evaluating those contracts. Oh - and some of the risk factors that GEO notes in their last 10-K annual filing:

Efforts to reduce the U.S. federal deficit could adversely affect our liquidity, results of operations and financial condition.

We partner with a limited number of governmental customers who account for a significant portion of our revenues. The loss of, or a significant decrease in revenues from, these customers could seriously harm our financial condition and results of operations.

We are subject to the loss of our facility management contracts, due to terminations, non-renewals or competitive re-bids, which could adversely affect our results of operations and liquidity, including our ability to secure new facility management contracts from other government customers.

and also - this amazing level of self-awareness:

Adverse publicity may negatively impact our ability to retain existing contracts and obtain new contracts.

[TheNewsIsHere]

10-Ks are one of the last places to find actual honesty in business. We partially have SOX to thank for that.

[wraaath]

You still do see plenty of trash in the 10-K's with all of the massaged messaging, but yeah.