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Strong institutional accumulation: ownership increased +3.79% quarter-over-quarter.
Data as of Q1 2026
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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 | $213.5M 100.0% | $228.2M 100.0% | $262.1M 100.0% | $290.0M 100.0% | $214.2M 100.0% | $169.7M 100.0% | $220.7M 100.0% | $226.2M 100.0% | $161.9M 100.0% | $114.3M 100.0% |
| Cost of Revenue | — | — | — | — | $5.6M 2.6% | $13.5M 8.0% | $13.5M 6.1% | — | — | — |
| Selling, General & Admin | $34.1M 16.0% | $33.4M 14.7% | $33.0M 12.6% | $29.4M 10.1% | $29.2M 13.6% | $32.8M 19.3% | $28.6M 13.0% | $29.5M 13.1% | $26.3M 16.3% | $25.5M 22.3% |
| Operating Income | $42.2M 19.8% | $58.8M 25.8% | $85.7M 32.7% | $142.7M 49.2% | $63.5M 29.7% | -$112.7M -66.4% | $17.6M 8.0% | $38.3M 16.9% | -$484.0M -298.9% | -$88.3M -77.3% |
| Interest Expense | $43.0M 20.1% | $47.5M 20.8% | $49.3M 18.8% | $27.4M 9.5% | $20.2M 9.4% | $21.5M 12.7% | $29.4M 13.3% | $30.5M 13.5% | $25.0M 15.4% | $19.5M 17.1% |
| Interest & Investment Income | — | — | — | — | — | — | — | $8.8M 3.9% | $4.5M 2.8% | $2.4M 2.1% |
| Net Income | $17.8M 8.3% | $12.7M 5.6% | $49.8M 19.0% | $119.1M 41.1% | $57.4M 26.8% | -$134.2M -79.1% | -$10.5M -4.8% | $16.6M 7.3% | -$511.7M -316.1% | -$164.2M -143.7% |
| Per Share | ||||||||||
| EPS (Basic) | $0.11 | $0.06 | $0.44 | $1.42 | $0.64 | $-1.62 | $-0.17 | — | — | — |
| EPS (Diluted) | $0.11 | $0.05 | $0.42 | $1.36 | $0.61 | $-1.62 | $-0.17 | — | — | — |
| Weighted Avg Shares (Basic) | 110.5M | 116.0M | 100.2M | 80.1M | 81.1M | 86.1M | 95.2M | 103.7M | 95.7M | 80.4M |
| Weighted Avg Shares (Diluted) | 110.5M | 118.7M | 101.9M | 83.3M | 84.9M | 86.1M | 95.2M | 104.7M | 95.7M | 80.4M |
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.
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. 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.
The dividend is comfortably covered — only 10% of free cash flow, leaving room to grow it and fund buybacks. Last year: $5M dividends + $23M buybacks = $28M returned on $46M 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 balanced mix of reinvestment and shareholder returns.
Reinvestment has been productive — operating income grew well per dollar put in. 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 $51M is below the $52M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~8.2% on $523M of debt.
Cash of $51M fully covers short-term debt of $50M.
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.
No current price collected.
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 4.4× 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 | — | 6.1 | 8.0 | 2.6 | — | — | — | — |
| SG&A | 13.1 | 13.0 | 19.3 | 13.6 | 10.1 | 12.6 | 14.7 | 16.0 |
| Operating Income | 16.9 | 8.0 | -66.4 | 29.7 | 49.2 | 32.7 | 25.8 | 19.8 |
| Net Income | 7.3 | -4.8 | -79.1 | 26.8 | 41.1 | 19.0 | 5.6 | 8.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DSX-WT: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.