{
  "docId": "019dd923-622b-71dc-a6da-992480932888",
  "docSlug": "9d06bebd9e8f",
  "documentTitle": "Multiple (BILL Holdings, Tripadvisor, Fluor Corporation)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2025-10-17 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 65,
  "pageCount": 114,
  "prevPage": 64,
  "nextPage": 66,
  "slideType": "peer_gap",
  "function": "expose_gap",
  "density": "overcrowded",
  "nDataPoints": 2,
  "notes": "The slide uses a bar chart to contrast growth rates, framing the performance gap as a key issue.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "callout_box",
    "bar_chart_vertical",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622b-71dc-a6da-992480932888/65",
  "deckHref": "/decks/019dd923-622b-71dc-a6da-992480932888",
  "deckJsonHref": "/decks/019dd923-622b-71dc-a6da-992480932888.json",
  "deckAnchorHref": "/decks/019dd923-622b-71dc-a6da-992480932888#slide-65",
  "components": [
    {
      "bbox": {
        "h": 0.04,
        "w": 0.48,
        "x": 0.03,
        "y": 0.22
      },
      "kind": "callout",
      "text": "Viator Has Been Growing Slower Than Its Closest Peer...",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0a0c222a-932c-4e42-b194-0913bead3cac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "We believe the current financial profile of Viator is unacceptable",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-203f-7169-9f81-0b399ed66e00",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.25,
        "x": 0.225,
        "y": 0.26
      },
      "kind": "chart",
      "text": "FY24 Revenue Growth",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "140856d9-0e7a-4d4e-b421-ee9a5103bae3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "FY24 Revenue Growth: 25%+",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-203f-7169-9f81-0ca40330068f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.94,
        "x": 0.03,
        "y": 0.15
      },
      "kind": "paragraph",
      "text": "Viator is growing slower than its closest peer, GetYourGuide, despite both companies spending similar amounts on sales & marketing and having significant overlap in experiences inventory.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "009a55c2-df52-43d1-873b-3b143830ab01",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.85,
        "x": 0.01,
        "y": 0.96
      },
      "kind": "source-note",
      "text": "Source: Company Filings, Wall Street Analyst Estimates. Note: The peer company identified here reflects Starboard's assessment of what firm can be reasonably considered Viator's peer in the online experiences industry. However, this analysis contains elements of subjectivity and the comparisons made herein may differ materially if other firms had been included.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8ee4ae2e-e6a8-411d-8755-57ffe6ed9552",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 1,
        "x": 0,
        "y": 0.9
      },
      "kind": "title",
      "text": "We believe the current financial profile of Viator is unacceptable",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "42475cad-d702-4c68-a14a-0bb8e43b934a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.94,
        "x": 0.03,
        "y": 0.03
      },
      "kind": "title",
      "text": "Despite This Strong Market Positioning, Viator Is Underperforming Its Closest Peer, GetYourGuide",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2c2bf00a-6a61-4a56-96a8-af81045abac6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "4be88a55-a8d5-4a47-8043-695d6729059b",
      "evidence": "Direct comparison of revenue growth between two peers to highlight underperformance.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 80,
      "from": 51,
      "beatId": "036b94ec-eb60-4b7f-98a2-c67b10ddd00c",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "Data and analysis supporting investment ideas",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}