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Institutional distribution: ownership decreased -1.28% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$9M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -23%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $32M covers the $0 due within a year 31740000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-09-30 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~16.0% on $35M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 7-yr range · 64th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 34.8 | 32.4 | 36.8 | 30.7 | 34.6 | 35.5 | 39.0 | 37.5 |
| Gross Profit | 65.2 | 67.6 | 63.2 | 69.3 | 65.4 | 64.5 | 61.0 | 62.5 |
| R&D | 15.4 | 13.2 | 14.1 | 8.9 | 10.2 | 10.4 | 10.6 | 6.4 |
| SG&A | 56.7 | 48.5 | 42.2 | 38.4 | 46.0 | 42.4 | 39.2 | 29.9 |
| Operating Income | -86.0 | -73.9 | -72.5 | -29.8 | -52.9 | -33.0 | -39.2 | -12.2 |
| Income Tax | -23.5 | -0.5 | -27.1 | 0.8 | 0.8 | -4.6 | 0.5 | 0.5 |
| Net Income | 377.7 | -69.8 | -42.9 | -31.3 | -52.1 | -35.7 | -48.8 | -21.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on APYX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $52.8M 100.0% | $48.1M 100.0% | $52.3M 100.0% | $44.5M 100.0% | $48.5M 100.0% | $27.7M 100.0% | $28.2M 100.0% | $16.6M 100.0% | $10.2M 100.0% | $8.8M 100.0% |
| Cost of Revenue | $19.8M 37.5% | $18.7M 39.0% | $18.6M 35.5% | $15.4M 34.6% | $14.9M 30.7% | $10.2M 36.8% | $9.1M 32.4% | $5.8M 34.8% | $3.3M 32.0% | $3.7M 42.0% |
| Gross Profit | $33.0M 62.5% | $29.4M 61.0% | $33.8M 64.5% | $29.1M 65.4% | $33.6M 69.3% | $17.5M 63.2% | $19.1M 67.6% | $10.8M 65.2% | $7.0M 68.0% | $5.1M 58.0% |
| Research & Development | $3.4M 6.4% | $5.1M 10.6% | $5.4M 10.4% | $4.5M 10.2% | $4.3M 8.9% | $3.9M 14.1% | $3.7M 13.2% | $2.5M 15.4% | $1.9M 19.0% | $1.0M 11.7% |
| Selling, General & Admin | $15.8M 29.9% | $18.9M 39.2% | $22.2M 42.4% | $20.5M 46.0% | $18.6M 38.4% | $11.7M 42.2% | $13.7M 48.5% | $9.4M 56.7% | $8.7M 84.9% | $6.2M 70.1% |
| Total Operating Expenses | $39.5M 74.7% | $48.2M 100.2% | $53.7M 102.6% | $52.7M 118.4% | $48.0M 99.0% | $37.6M 135.6% | $40.0M 141.5% | $25.1M 151.2% | $20.8M 203.7% | $16.5M 187.2% |
| Operating Income | -$6.4M -12.2% | -$18.8M -39.2% | -$17.3M -33.0% | -$23.6M -52.9% | -$14.4M -29.8% | -$20.1M -72.5% | -$20.9M -73.9% | -$14.3M -86.0% | -$13.9M -135.7% | -$11.4M -129.2% |
| Interest Expense | $5.6M 10.6% | $5.9M 12.3% | $2.5M 4.7% | $15K 0.0% | $10K 0.0% | $46K 0.2% | $8K 0.0% | $104K 0.6% | $136K 1.3% | $158K 1.8% |
| Interest & Investment Income | $1.1M 2.1% | $1.6M 3.3% | $921K 1.8% | — | — | — | — | — | — | — |
| Other Income (Expense), net | -$4.4M -8.3% | -$4.5M -9.3% | -$4.0M -7.7% | $651K 1.5% | -$372K -0.8% | $674K 2.4% | $1.0M 3.7% | -$415K -2.5% | $47K 0.5% | -$94K -1.1% |
| Pretax Income | -$10.8M -20.5% | -$23.3M -48.5% | -$21.3M -40.7% | -$22.9M -51.5% | -$14.8M -30.5% | -$19.4M -70.0% | -$19.8M -70.3% | -$14.7M -88.5% | -$13.8M -135.2% | -$11.5M -130.2% |
| Income Tax Expense | $270K 0.5% | $252K 0.5% | -$2.4M -4.6% | $367K 0.8% | $380K 0.8% | -$7.5M -27.1% | -$130K -0.5% | -$3.9M -23.5% | -$156K -1.5% | $64K 0.7% |
| Net Income | -$11.2M -21.2% | -$23.5M -48.8% | -$18.7M -35.7% | -$23.2M -52.1% | -$15.2M -31.3% | -$11.9M -42.9% | -$19.7M -69.8% | $62.7M 377.7% | -$5.1M -49.5% | -$11.6M -131.0% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.27 | $-0.66 | $-0.54 | $-0.67 | $-0.44 | $-0.35 | $-0.58 | $1.89 | $-0.16 | $-0.14 |
| EPS (Diluted) | — | — | $-0.54 | $-0.67 | $-0.44 | $-0.35 | $-0.58 | $1.83 | $-0.17 | $-0.15 |
| Weighted Avg Shares (Basic) | 41.1M | 35.5M | 34.6M | 34.5M | 34.3M | 34.2M | 34.1M | 33.2M | 31.4M | 27.4M |
| Weighted Avg Shares (Diluted) | — | — | 34.6M | 34.5M | 34.3M | 34.2M | 34.1M | 34.4M | 31.4M | 27.4M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| APYX | $127M | — | — | 2.4× | 9.9% | 62.5% | -21.2% | -77.1% | -22.7% | -6.0× | 64 |
Peers = companies sharing APYX's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.