Electronic Arts

EA returns significant capital (TTM repurchases of ~$2.1–2.5B in recent periods and a $0.19 quarterly dividend), and has generally kept net leverage modest.

Acquisition track record is mixed: Codemasters, Glu Mobile, and Playdemic expanded sports/mobile, but mobile execution has been uneven with closures (Apex Legends Mobile, Battlefield Mobile; The Sims Mobile sunset) and shifting IDFA economics. Management paused buybacks amid the take‑private, which is prudent given disclosure constraints.

Post‑deal, capital allocation will depend on the owners’ leverage/IRR goals, potentially prioritizing debt service over repurchases near term.