Loading institutional data...
Loading institutional data...
Institutional accumulation: ownership increased +1.80% quarter-over-quarter.
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $2.46 today, the market must believe free cash flow compounds -17.9%/yr for a decade (off $40M normalized FCF).
The market's -17.9% is more optimistic than its 1-yr track record.
2-stage DCF · 0.09B shares · net debt -$91M
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
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
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 | $72.8M 100.0% | $27.9M 100.0% | $33.5M 100.0% | $7.5M 100.0% | $6.0M 100.0% | $2.0M 100.0% | — | $17.8M 100.0% | — | $712K 100.0% |
| Cost of Revenue | $9.3M 12.7% | $7.9M 28.5% | $2.0M 6.0% | $975K 13.0% | $680K 11.3% | $60K 3.0% | — | $1.0M 5.8% | — | $223K 31.3% |
| Gross Profit | $63.5M 87.3% | $19.9M 71.5% | $31.5M 94.0% | $6.5M 87.0% | $5.3M 88.7% | $1.9M 97.0% | — | $16.8M 94.2% | — | $489K 68.7% |
| Research & Development | $22.8M 31.3% | $24.8M 89.0% | $34.5M 103.0% | $30.6M 408.6% | $28.7M 478.2% | $22.8M 1138.0% | $19.8M | $30.3M 170.3% | $28.6M | $24.5M 3447.9% |
| Selling, General & Admin | $8.9M 12.2% | $9.4M 33.9% | $9.7M 29.1% | $10.3M 137.6% | $10.9M 181.0% | $9.8M 490.3% | $8.4M | $8.0M 45.2% | $7.6M | $7.3M 1032.2% |
| Total Operating Expenses | $32.2M 44.2% | $34.8M 125.0% | $44.4M 132.8% | $41.9M 558.7% | $40.4M 673.2% | $33.4M 1671.8% | $28.9M | $40.0M 224.7% | $37.4M | $33.1M 4644.9% |
| Operating Income | $31.3M 43.1% | -$14.9M -53.4% | -$13.0M -38.8% | -$35.4M -471.7% | -$35.1M -584.6% | -$31.5M -1574.8% | -$28.9M | -$23.2M -130.5% | -$37.4M | -$32.6M -4576.3% |
| Interest Expense | $28K 0.0% | $34K 0.1% | $31K 0.1% | $27K 0.4% | $25K 0.4% | $42K 2.1% | $32K | $23K 0.1% | $15K | $23K 3.2% |
| Interest & Investment Income | $3.9M 5.4% | $3.5M 12.5% | $3.0M 8.8% | $1.4M 19.2% | $894K 14.9% | $1.8M 88.3% | $935K | $643K 3.6% | $523K | $728K 102.2% |
| Pretax Income | $35.4M 48.6% | -$9.7M -34.8% | -$9.8M -29.2% | -$33.6M -448.5% | -$34.2M -570.0% | -$29.7M -1484.9% | -$28.1M | -$22.6M -127.0% | -$37.1M | -$31.5M -4422.2% |
| Income Tax Expense | $54K 0.1% | $4.5M 16.2% | $9.0M 26.8% | $58K 0.8% | $0 0.0% | $0 0.0% | -$722K | — | — | $20K 2.8% |
| Net Income | $35.3M 48.6% | -$14.2M -51.1% | -$18.8M -56.1% | -$33.7M -449.3% | -$34.2M -570.0% | -$29.7M -1484.9% | -$27.3M | -$22.6M -127.0% | -$37.1M | -$31.5M -4425.0% |
| Per Share | ||||||||||
| EPS (Basic) | $0.38 | $-0.16 | $-0.21 | $-0.39 | $-0.41 | $-0.37 | $-0.43 | $-0.41 | $-0.72 | $-0.62 |
| EPS (Diluted) | $0.38 | $-0.16 | $-0.21 | $-0.39 | $-0.41 | $-0.37 | $-0.43 | $-0.41 | $-0.72 | $-0.62 |
| Weighted Avg Shares (Basic) | 93.4M | 89.5M | 87.6M | 86.6M | 84.2M | 79.6M | 63.6M | 55.3M | 51.2M | 50.9M |
| Weighted Avg Shares (Diluted) | 93.8M | 89.5M | 87.6M | 86.6M | 84.2M | 79.6M | 63.6M | 55.3M | 51.2M | 50.9M |
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.
6/8 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).
Comfortably covers interest.
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 $31M 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: 34%. 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 11th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-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
Returns are margin-driven, not leverage-driven — higher quality.
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 | 5.8 | — | 3.0 | 11.3 | 13.0 | 6.0 | 28.5 | 12.7 |
| Gross Profit | 94.2 | — | 97.0 | 88.7 | 87.0 | 94.0 | 71.5 | 87.3 |
| R&D | 170.3 | — | 1138.0 | 478.2 | 408.6 | 103.0 | 89.0 | 31.3 |
| SG&A | 45.2 | — | 490.3 | 181.0 | 137.6 | 29.1 | 33.9 | 12.2 |
| Operating Income | -130.5 | — | -1574.8 | -584.6 | -471.7 | -38.8 | -53.4 | 43.1 |
| Income Tax | — | — | 0.0 | 0.0 | 0.8 | 26.8 | 16.2 | 0.1 |
| Net Income | -127.0 | — | -1484.9 | -570.0 | -449.3 | -56.1 | -51.1 | 48.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CGEN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 |
| CGEN | $233M | 6.5× | 4.5× | 3.2× | 161% | 87.3% | 48.6% | 34.4% | 34.4% | — | 77 |
Peers = companies sharing CGEN'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.