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Institutional distribution: ownership decreased -2.06% quarter-over-quarter.
Data as of Q1 2026
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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.
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.
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 35 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 |
|---|---|---|---|---|---|---|---|
| Revenue | $12.3M 100.0% | $14.5M 100.0% | $24.7M 100.0% | $23.8M 100.0% | $20.5M 100.0% | $42.7M 100.0% | $42.9M 100.0% |
| Cost of Revenue | $5.7M 46.3% | $7.8M 53.6% | $13.7M 55.3% | $12.2M 51.2% | $11.2M 54.6% | $22.1M 51.8% | $23.1M 53.9% |
| Gross Profit | $6.6M 53.7% | $6.7M 46.4% | $11.1M 44.7% | $11.6M 48.8% | $9.3M 45.4% | $20.6M 48.2% | $19.8M 46.1% |
| Research & Development | $4.2M 33.9% | $3.0M 20.7% | $4.4M 17.8% | $7.7M 32.4% | $7.8M 37.9% | $6.0M 13.9% | $2.4M 5.6% |
| Selling, General & Admin | $15.1M 122.7% | $18.1M 124.9% | $14.1M 57.0% | $16.1M 67.3% | $13.1M 64.2% | $10.6M 24.9% | $9.6M 22.4% |
| Total Operating Expenses | $33.5M 272.6% | $37.4M 258.7% | $41.6M 168.0% | $46.8M 196.4% | $37.8M 184.8% | $34.2M 80.0% | $28.2M 65.7% |
| Operating Income | -$26.9M -218.9% | -$30.7M -212.3% | -$30.5M -123.4% | -$35.2M -147.5% | -$28.5M -139.5% | -$13.6M -31.9% | -$8.4M -19.6% |
| Interest Expense | — | $4.8M 33.0% | $5.8M 23.4% | $5.1M 21.5% | $5.3M 26.0% | $5.6M 13.2% | $5.4M 12.5% |
| Other Income (Expense), net | -$2.8M -22.4% | $1.2M 8.2% | -$759K -3.1% | $4.2M 17.4% | $3.6M 17.5% | -$2.6M -6.0% | $1.9M 4.4% |
| Pretax Income | -$15.9M -129.0% | -$45.3M -313.4% | -$41.2M -166.6% | -$36.1M -151.6% | -$30.3M -148.0% | -$21.8M -51.1% | -$11.9M -27.8% |
| Income Tax Expense | $13K 0.1% | $7K 0.0% | $28K 0.1% | $34K 0.1% | $55K 0.3% | $26K 0.1% | $30K 0.1% |
| Net Income | $53.4M 434.2% | -$53.9M -372.9% | -$37.7M -152.2% | -$32.9M -137.9% | -$24.8M -121.4% | -$21.8M -51.1% | -$11.9M -27.8% |
| Per Share | |||||||
| EPS (Basic) | $1.29 | $-1.86 | $-2.07 | $-2.38 | $-2.38 | $-8.88 | — |
| EPS (Diluted) | $0.87 | $-1.86 | $-2.07 | $-2.38 | $-2.38 | $-8.88 | — |
| Weighted Avg Shares (Basic) | 41.4M | 29.1M | 18.2M | 13.8M | 10.4M | 2.9M | — |
| Weighted Avg Shares (Diluted) | 45.9M | 29.1M | 18.2M | 13.8M | 10.4M | 2.9M | — |
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.
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
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. 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 -$47M 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 7 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: 193%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 7 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 $36M covers all $24M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~20.0% on $24M of debt. Interest last disclosed in FY2024 (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 6-yr range · 58th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | 53.9 | 51.8 | 54.6 | 51.2 | 55.3 | 53.6 | 46.3 |
| Gross Profit | 46.1 | 48.2 | 45.4 | 48.8 | 44.7 | 46.4 | 53.7 |
| R&D | 5.6 | 13.9 | 37.9 | 32.4 | 17.8 | 20.7 | 33.9 |
| SG&A | 22.4 | 24.9 | 64.2 | 67.3 | 57.0 | 124.9 | 122.7 |
| Operating Income | -19.6 | -31.9 | -139.5 | -147.5 | -123.4 | -212.3 | -218.9 |
| Income Tax | 0.1 | 0.1 | 0.3 | 0.1 | 0.1 | 0.0 | 0.1 |
| Net Income | -27.8 | -51.1 | -121.4 | -137.9 | -152.2 | -372.9 | 434.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ELUT: 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 |
| ELUT | $35M | 1.0× | — | 2.9× | -15.0% | 53.7% | 434% | 193% | 193% | — | 34 |
Peers = companies sharing ELUT'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.