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Institutional distribution: ownership decreased -0.53% 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 $3.25 today, the market must believe free cash flow compounds 2.3%/yr for a decade (off $7M normalized FCF).
The market's 2.3% is more conservative than its 9-yr track record.
2-stage DCF · 0.03B shares · net debt -$5M
mean -1066.7% · volatility σ 1887% · implied rate exceeded in 1/3 yrs
Central path = implied 2.3%/yr growth; shaded band = ±1σ (1887%) 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.
Top 33 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 2026-09-18
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 | $75.6M 100.0% | $74.2M 100.0% | $96.8M 100.0% | $51.6M 100.0% | $24.7M 100.0% | $86.1M 100.0% | $145.8M 100.0% | $154.2M 100.0% | $156.5M 100.0% | $137.6M 100.0% |
| Cost of Revenue | $62.6M 82.8% | $63.0M 85.0% | $86.7M 89.5% | $37.9M 73.4% | $29.0M 117.5% | $69.0M 80.1% | $123.0M 84.4% | $132.9M 86.2% | $139.1M 88.8% | — |
| Selling, General & Admin | $9.0M 11.9% | $9.9M 13.4% | $12.6M 13.0% | $15.5M 29.9% | $12.0M 48.8% | $13.9M 16.2% | $17.2M 11.8% | $16.3M 10.6% | $16.2M 10.3% | $16.8M 12.2% |
| Total Operating Expenses | $77.3M 102.2% | $78.7M 106.1% | $109.9M 113.5% | $73.8M 143.0% | $53.9M 218.4% | $100.1M 116.3% | $162.0M 111.1% | $179.2M 116.2% | $194.5M 124.3% | $185.1M 134.5% |
| Operating Income | -$1.7M -2.2% | -$4.5M -6.1% | -$13.1M -13.5% | -$22.2M -43.0% | -$29.2M -118.4% | -$14.0M -16.3% | -$16.2M -11.1% | -$25.0M -16.2% | -$38.0M -24.3% | -$47.5M -34.5% |
| Interest Expense | $536K 0.7% | $159K 0.2% | $103K 0.1% | $31K 0.1% | $21K 0.1% | $83K 0.1% | $435K 0.3% | $408K 0.3% | $158K 0.1% | $260K 0.2% |
| Interest & Investment Income | $117K 0.2% | $308K 0.4% | $576K 0.6% | $317K 0.6% | $220K 0.9% | $402K 0.5% | $548K 0.4% | $400K 0.3% | $306K 0.2% | $347K 0.3% |
| Other Income (Expense), net | $148K 0.2% | $288K 0.4% | $354K 0.4% | $411K 0.8% | -$86K -0.3% | $501K 0.6% | $681K 0.5% | -$170K -0.1% | $712K 0.5% | $3.1M 2.3% |
| Pretax Income | -$1.9M -2.6% | -$4.1M -5.5% | -$12.2M -12.6% | -$18.5M -35.9% | -$29.1M -117.9% | -$13.2M -15.3% | -$15.5M -10.6% | -$25.2M -16.4% | -$37.1M -23.7% | -$44.3M -32.2% |
| Income Tax Expense | $6K 0.0% | $7K 0.0% | -$96K -0.1% | $107K 0.2% | -$26K -0.1% | $24K 0.0% | -$239K -0.2% | -$798K -0.5% | -$5.3M -3.4% | -$6.0M -4.3% |
| Net Income | -$1.9M -2.6% | -$4.1M -5.6% | -$12.1M -12.5% | -$18.6M -36.1% | -$29.1M -117.8% | -$13.2M -15.3% | -$15.2M -10.4% | -$24.4M -15.8% | -$31.8M -20.3% | -$38.3M -27.9% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.06 | $-0.13 | $-0.45 | $-0.75 | $-1.23 | $-0.56 | $-0.66 | $-1.07 | $-1.40 | $-1.69 |
| EPS (Diluted) | $-0.06 | $-0.13 | $-0.45 | $-0.75 | $-1.23 | $-0.56 | $-0.66 | $-1.07 | $-1.40 | $-1.69 |
| Weighted Avg Shares (Basic) | 31.0M | 30.9M | 26.8M | 25.0M | 23.6M | 23.4M | 23.2M | 22.9M | 22.8M | 22.7M |
| Weighted Avg Shares (Diluted) | 31.0M | 30.9M | 26.8M | 25.0M | 23.6M | 23.4M | 23.2M | 22.9M | 22.8M | 22.7M |
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.
5/8 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).
Interest coverage is thin — monitor.
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 $7M 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: -12%. 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 $5M is below the $11M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2012-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
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.
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.
Ranked against 238 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $683.4B | 24.4× | — | 2.1× | -5.0% | — | 8.7% | 11.1% | 10.7% | — | 4,568 |
| SHEL | $537.9B | — | — | — | — | — | — | — | — | — | 1,521 |
| CVX | $387.4B | 31.6× | — | 2.0× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,121 |
| TTE | $200.4B | — | — | — | — | — | — | — | — | — | 951 |
| COP | $165.1B | 20.8× | — | 2.8× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,450 |
| PBR | $154.8B | — | — | — | — | — | — | — | — | — | 524 |
| MPC | $129.6B | 32.1× | 11.1× | 1.0× | -4.4% | 10.0% | 3.0% | 23.4% | 20.6% | 0.2× | 1,802 |
| VLO | $127.7B | 54.6× | 24.1× | 1.0× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 1.7× | 1,781 |
| BP | $114.8B | — | — | — | — | — | — | — | — | — | 1,220 |
| PSX | $110.9B | 25.3× | — | 0.8× | -7.5% | 12.3% | 3.3% | 15.1% | 14.6% | — | 2,041 |
| EQNR | $110.2B | — | — | — | — | — | — | — | — | — | 398 |
| WMB | $88.0B | 33.7× | 17.8× | 7.4× | 13.8% | — | 21.9% | 20.4% | 6.3% | 4.4× | 1,736 |
| EPD | $85.1B | — | 12.7× | 1.6× | -6.4% | 26.7% | 11.0% | — | — | 3.7× | 1,573 |
| EOG | $78.3B | 15.8× | 7.6× | 3.5× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.7× | 1,525 |
| SLB | $76.4B | 21.8× | — | 2.1× | -1.6% | — | 9.4% | 12.9% | 9.4% | — | 1,624 |
| ET | $72.8B | — | 9.8× | 0.8× | 3.5% | 25.8% | 5.2% | 9.0% | 3.8% | 4.8× | 1,244 |
| KMI | $70.8B | 23.2× | 14.3× | 4.2× | 12.2% | — | 18.0% | 9.8% | 4.8% | 4.5× | 1,745 |
| TRGP | $62.7B | 34.4× | 16.5× | 3.7× | 3.9% | 38.3% | 11.3% | 62.7% | 9.4% | 3.6× | 979 |
| TS | $60.3B | — | — | — | — | — | — | — | — | — | 248 |
| MPLX | $60.3B | — | — | 4.6× | 8.9% | — | 38.1% | — | — | — | 622 |
| LNG | $59.0B | 11.1× | 7.7× | 3.0× | 27.2% | — | 26.7% | 67.3% | 17.3% | 2.2× | 1,303 |
| OKE | $58.9B | 17.2× | 12.4× | 1.8× | 55.0% | 30.5% | 10.1% | 15.1% | 6.3% | 4.4× | 1,622 |
| OXY | $58.0B | 36.5× | — | 2.7× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,250 |
| BKR | $56.8B | — | — | 2.0× | -0.3% | — | 9.3% | 13.7% | 13.3% | — | 1,095 |
| FANG | $54.8B | 33.6× | 11.0× | 3.6× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,141 |
| DWSN | $101M | — | 24.0× | 1.3× | 2.0% | 17.2% | -2.6% | -12.3% | -12.3% | — | 33 |
Peers = companies sharing DWSN's sector (Energy) 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.
EOD close · as of 2026-09-18
No standout strengths flagged.
Where each multiple sits in its own 16-yr range · 86th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 16-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 | 86.2 | 84.4 | 80.1 | 117.5 | 73.4 | 89.5 | 85.0 | 82.8 |
| SG&A | 10.6 | 11.8 | 16.2 | 48.8 | 29.9 | 13.0 | 13.4 | 11.9 |
| Operating Income | -16.2 | -11.1 | -16.3 | -118.4 | -43.0 | -13.5 | -6.1 | -2.2 |
| Income Tax | -0.5 | -0.2 | 0.0 | -0.1 | 0.2 | -0.1 | 0.0 | 0.0 |
| Net Income | -15.8 | -10.4 | -15.3 | -117.8 | -36.1 | -12.5 | -5.6 | -2.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DWSN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.