Loading institutional data...
Loading institutional data...
Held by 239 of 5,944 reporting institutions (93th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
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.
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
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.
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 | $2.43B 100.0% | $2.32B 100.0% | $2.40B 100.0% | $2.77B 100.0% | $2.27B 100.0% | $1.68B 100.0% | $1.63B 100.0% | $1.65B 100.0% | $1.52B 100.0% | $823.0M 100.0% |
| Cost of Revenue | — | — | — | — | — | $520.5M 31.0% | $472.0M 29.0% | $472.5M 28.7% | $450.2M 29.6% | — |
| Selling, General & Admin | — | — | $90.4M 3.8% | $80.2M 2.9% | $66.7M 2.9% | $63.1M 3.8% | $56.8M 3.5% | $52.7M 3.2% | $49.6M 3.3% | $35.1M 4.3% |
| Total Operating Expenses | $1.93B 79.3% | $1.87B 80.8% | $1.94B 80.6% | $2.43B 87.8% | $1.89B 83.1% | $1.29B 77.1% | $1.26B 77.4% | $1.27B 77.0% | $1.14B 75.2% | $647.1M 78.6% |
| Operating Income | $504.7M 20.7% | $446.1M 19.2% | $467.3M 19.4% | $402.0M 14.5% | $413.1M 18.2% | $384.0M 22.9% | $366.8M 22.6% | $378.4M 23.0% | $377.2M 24.8% | $175.9M 21.4% |
| Interest Expense | $282.5M 11.6% | $363.6M 15.7% | $308.4M 12.8% | $278.6M 10.1% | $209.6M 9.2% | $181.9M 10.8% | $181.5M 11.2% | $152.1M 9.2% | $155.8M 10.2% | $99.6M 12.1% |
| Interest & Investment Income | $22.0M 0.9% | $27.5M 1.2% | — | — | — | — | — | — | — | — |
| Other Income (Expense), net | -$293.7M -12.1% | -$268.9M -11.6% | -$529.4M -22.0% | -$771.7M -27.9% | -$270.9M -11.9% | $408.3M 24.3% | $188.2M 11.6% | -$246.0M -14.9% | -$202.1M -13.3% | -$79.6M -9.7% |
| Pretax Income | $211.0M 8.7% | $177.2M 7.6% | -$62.1M -2.6% | -$369.7M -13.4% | $142.2M 6.3% | $792.4M 47.3% | $555.1M 34.1% | $132.5M 8.0% | $175.1M 11.5% | $96.3M 11.7% |
| Income Tax Expense | $65.0M 2.7% | $186.8M 8.1% | -$37.1M -1.5% | -$61.5M -2.2% | -$43.4M -1.9% | $64.6M 3.9% | $70.1M 4.3% | $53.4M 3.2% | $73.4M 4.8% | $27.7M 3.4% |
| Net Income | $180.8M 7.4% | -$1.38B -59.5% | $28.7M 1.2% | -$212.0M -7.7% | $264.9M 11.6% | $782.5M 46.7% | $530.9M 32.6% | $185.0M 11.2% | $149.5M 9.8% | $97.9M 11.9% |
| Per Share | ||||||||||
| EPS (Basic) | $0.22 | $-1.90 | $0.03 | $-0.33 | $0.41 | $1.38 | $1.05 | $0.38 | — | $0.44 |
| EPS (Diluted) | $0.22 | $-1.90 | $0.03 | $-0.33 | $0.41 | $1.37 | $1.04 | $0.38 | $0.37 | $0.33 |
| Weighted Avg Shares (Basic) | 768.1M | 731.7M | 688.7M | 677.9M | 622.3M | 559.6M | 499.9M | 461.8M | 382.3M | 271.8M |
| Weighted Avg Shares (Diluted) | 772.4M | 734.0M | 690.8M | 677.9M | 628.9M | 564.4M | 504.7M | 466.0M | 386.0M | 274.1M |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
7/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising 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.
Free-cash-flow coverage unavailable. Last year: $201M dividends + $0 buybacks = $201M returned on -$178M 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.
Modest payoff on reinvested capital. Current ROIC on all capital: 2%. 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 $33M is below the $1.6B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (40-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~3.8% on $7.4B of debt.
Cash of $33M is below short-term debt of $1.2B — relies on refinancing/operations.
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.
Ranked against 95 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GEV | $249.3B | 52.3× | 124.5× | 6.5× | 9.0% | 19.8% | 12.8% | 43.7% | 43.4% | 0.0× | 2,989 |
| NEE | $169.3B | 24.6× | — | 6.6× | 9.8% | — | 26.5% | 12.5% | 4.6% | — | 2,911 |
| SO | $95.7B | 22.1× | — | 3.2× | 10.6% | — | 14.7% | 12.1% | 11.8% | — | 2,268 |
| DUK | $92.2B | 18.8× | 10.7× | 2.9× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.1× | 2,360 |
| CEG | $82.0B | 35.5× | 21.5× | 3.2× | 8.3% | — | 9.1% | 16.0% | 9.9% | 2.2× | 1,836 |
| AEP | $65.8B | 18.3× | 12.9× | 3.0× | 10.9% | — | 16.9% | 11.9% | 4.8% | 5.3× | 1,854 |
| D | $56.5B | 18.6× | — | 3.4× | 14.2% | — | 18.2% | 10.3% | 3.8% | — | 1,421 |
| SRE | $53.6B | 29.9× | — | 3.9× | 3.9% | — | 13.4% | 5.8% | 5.1% | — | 1,217 |
| VST | $48.5B | 65.8× | 17.1× | 2.7× | 3.0% | — | 5.3% | 18.5% | 3.9% | 4.8× | 1,246 |
| XEL | $45.9B | 21.5× | — | — | — | — | — | 8.5% | 3.5% | — | 1,208 |
| ETR | $45.7B | 26.4× | 13.1× | 3.5× | 9.0% | — | 13.7% | 10.5% | 3.9% | 5.2× | 1,224 |
| EXC | $43.6B | — | 11.1× | 1.8× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.9× | 1,230 |
| ED | $38.7B | 19.0× | — | 2.3× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 1,368 |
| PEG | $35.3B | 16.8× | — | 2.9× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 1,231 |
| WEC | $34.1B | 21.8× | 14.6× | 3.5× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 1,310 |
| AEE | $28.7B | 19.4× | — | 3.3× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 884 |
| AWK | $27.0B | 24.3× | 10.3× | 5.3× | 10.1% | — | 21.7% | 10.3% | 8.9% | 0.6× | 1,100 |
| FE | $26.4B | 26.0× | 6.9× | 1.8× | 12.0% | — | 6.8% | 8.2% | 7.9% | 0.1× | 894 |
| ATO | $26.2B | 21.7× | 11.3× | 5.6× | 12.9% | — | 25.5% | 8.8% | 8.8% | — | 961 |
| ES | $25.9B | 15.1× | 10.0× | 1.9× | 13.8% | — | 12.5% | 10.5% | 3.8% | 5.2× | 1,012 |
| PPL | $25.2B | 21.1× | 12.4× | 2.8× | 6.9% | — | 13.1% | 7.9% | 3.5% | 5.4× | 947 |
| CNP | $25.2B | 24.1× | 12.7× | 2.7× | 8.3% | 100.0% | 11.2% | 9.4% | 3.3% | 5.8× | 774 |
| EIX | $21.4B | 4.8× | 5.8× | 1.1× | 9.8% | — | 23.1% | 25.4% | 8.0% | 3.7× | 1,005 |
| CMS | $20.3B | 18.8× | 12.7× | 2.4× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.2× | 762 |
| NRG | $20.2B | 26.5× | 9.8× | 0.7× | 9.2% | — | 2.8% | 51.4% | 4.8% | 5.1× | 1,010 |
| AQN | $4.1B | 24.4× | 12.7× | 1.7× | 4.9% | — | 7.4% | 3.9% | 1.5% | 8.2× | 239 |
Peers = companies sharing AQN's sector (Utilities) 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.
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.
No trend data available for this metric.
EOD close · as of 2026-09-17
Where each multiple sits in its own 10-yr range · 38th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-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
High operating leverage: profit moved 2.7× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 28.7 | 29.0 | 31.0 | — | — | — | — | — |
| SG&A | 3.2 | 3.5 | 3.8 | 2.9 | 2.9 | 3.8 | — | — |
| Operating Income | 23.0 | 22.6 | 22.9 | 18.2 | 14.5 | 19.4 | 19.2 | 20.7 |
| Income Tax | 3.2 | 4.3 | 3.9 | -1.9 | -2.2 | -1.5 | 8.1 | 2.7 |
| Net Income | 11.2 | 32.6 | 46.7 | 11.6 | -7.7 | 1.2 | -59.5 | 7.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AQN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.