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Institutional distribution: ownership decreased -1.12% quarter-over-quarter.
Data as of Q1 2026
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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 $11.93 today, the market must believe free cash flow compounds -8.6%/yr for a decade (off $505M normalized FCF).
2-stage DCF · 0.34B shares · net debt -$856M
mean 85.9% · volatility σ 376% · implied rate exceeded in 3/6 yrs
Central path = implied -8.6%/yr growth; shaded band = ±1σ (376%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
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.
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 | $665.4M 100.0% | $1.03B 100.0% | $2.31B 100.0% | $4.61B 100.0% | $1.68B 100.0% | $675.6M 100.0% | $350.0M 100.0% | $301.6M 100.0% | $323.2M 100.0% | $196.2M 100.0% |
| Cost of Revenue | $803.3M 120.7% | $1.24B 120.7% | $1.39B 60.1% | $1.20B 26.0% | $581.6M 34.6% | $441.6M 65.4% | $269.9M 77.1% | $203.5M 67.5% | $179.2M 55.4% | $118.4M 60.3% |
| Gross Profit | -$137.9M -20.7% | -$212.9M -20.7% | $920.6M 39.9% | $3.41B 74.0% | $1.10B 65.4% | $234.0M 34.6% | $80.1M 22.9% | $98.1M 32.5% | $144.0M 44.6% | $77.8M 39.7% |
| Research & Development | $2.6M 0.4% | $4.6M 0.4% | $10.1M 0.4% | $10.0M 0.2% | $6.5M 0.4% | $6.9M 1.0% | $5.7M 1.6% | $2.7M 0.9% | $676K 0.2% | $3.9M 2.0% |
| Selling, General & Admin | $118.2M 17.8% | $143.1M 13.9% | $213.2M 9.2% | $354.1M 7.7% | $39.9M 2.4% | $39.5M 5.8% | $32.5M 9.3% | $27.1M 9.0% | $16.0M 5.0% | $15.1M 7.7% |
| Total Operating Expenses | $132.4M 19.9% | $351.2M 34.1% | $137.2M 5.9% | $367.3M 8.0% | $45.8M 2.7% | $46.1M 6.8% | $32.6M 9.3% | $16.9M 5.6% | $13.2M 4.1% | $16.7M 8.5% |
| Operating Income | -$270.2M -40.6% | -$564.1M -54.8% | $783.4M 33.9% | $3.04B 66.0% | $1.05B 62.6% | $187.9M 27.8% | $47.5M 13.6% | $81.2M 26.9% | $130.8M 40.5% | $61.1M 31.2% |
| Interest Expense | — | — | — | — | $20.5M 1.2% | $25.7M 3.8% | $9.4M 2.7% | $10.8M 3.6% | $16.3M 5.0% | $12.7M 6.5% |
| Interest & Investment Income | — | — | — | — | — | $907K 0.1% | $983K 0.3% | $1.2M 0.4% | $465K 0.1% | $149K 0.1% |
| Pretax Income | -$237.1M -35.6% | -$518.1M -50.3% | $818.5M 35.5% | $3.06B 66.3% | $1.03B 61.6% | $162.1M 24.0% | $37.9M 10.8% | $73.5M 24.4% | $115.0M 35.6% | $48.6M 24.8% |
| Income Tax Expense | -$21.0M -3.2% | -$69.9M -6.8% | $165.6M 7.2% | $577.2M 12.5% | $170.1M 10.1% | $28.2M 4.2% | $9.6M 2.7% | $11.7M 3.9% | $17.3M 5.4% | $7.4M 3.7% |
| Net Income | -$170.5M -25.6% | -$345.2M -33.5% | $429.5M 18.6% | $1.82B 39.5% | $748.9M 44.6% | $129.2M 19.1% | $29.5M 8.4% | $38.1M 12.6% | $92.8M 28.7% | $43.5M 22.2% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.51 | $-1.04 | $1.15 | $4.80 | $2.03 | $0.36 | $0.09 | $0.12 | $0.35 | $0.17 |
| EPS (Diluted) | $-0.51 | $-1.04 | $1.15 | $4.67 | $1.95 | $0.34 | $0.08 | $0.12 | $0.34 | $0.16 |
| Weighted Avg Shares (Basic) | 336.8M | 330.8M | 373.6M | 379.4M | 369.3M | 355.1M | 339.6M | 311.7M | 265.1M | 261.7M |
| Weighted Avg Shares (Diluted) | 336.8M | 330.8M | 374.8M | 386.5M | 383.8M | 375.0M | 350.0M | 325.5M | 272.9M | 264.8M |
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.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
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 -$123M 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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -4%. 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 $856M covers all $201M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2019-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Interest last disclosed in FY2021 (no longer broken out).
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. 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 14-yr range · 22th 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
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 1.5× 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 | 67.5 | 77.1 | 65.4 | 34.6 | 26.0 | 60.1 | 120.7 | 120.7 |
| Gross Profit | 32.5 | 22.9 | 34.6 | 65.4 | 74.0 | 39.9 | -20.7 | -20.7 |
| R&D | 0.9 | 1.6 | 1.0 | 0.4 | 0.2 | 0.4 | 0.4 | 0.4 |
| SG&A | 9.0 | 9.3 | 5.8 | 2.4 | 7.7 | 9.2 | 13.9 | 17.8 |
| Operating Income | 26.9 | 13.6 | 27.8 | 62.6 | 66.0 | 33.9 | -54.8 | -40.6 |
| Income Tax | 3.9 | 2.7 | 4.2 | 10.1 | 12.5 | 7.2 | -6.8 | -3.2 |
| Net Income | 12.6 | 8.4 | 19.1 | 44.6 | 39.5 | 18.6 | -33.5 | -25.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DQ: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 743 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| DQ | $4.0B | — | — | 6.1× | -35.3% | -20.7% | -25.6% | -3.9% | -3.9% | — | 127 |
Peers = companies sharing DQ's sector (Technology) 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.
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