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Institutional accumulation: ownership increased +1.33% 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 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
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
1/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 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 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 -$112M 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: -66%. 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 $47M covers all $19M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2017-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2019 (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
No standout strengths flagged.
Where each multiple sits in its own 13-yr range · 36th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| R&D | 1181.9 | 821.8 | 399.6 | 385.9 | 332.8 | 271.7 | 990.4 | 1622.5 |
| SG&A | 333.5 | 221.3 | 107.8 | 102.6 | 87.5 | 128.2 | 544.1 | 700.0 |
| Operating Income | -1415.4 | -943.1 | -407.5 | -388.6 | -320.2 | -299.9 | -1542.6 | -2222.4 |
| Income Tax | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | -1405.0 | -919.0 | -551.6 | -379.9 | -292.5 | -253.3 | -1366.5 | -2051.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FATE: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 | $6.6M 100.0% | $13.6M 100.0% | $63.5M 100.0% | $96.3M 100.0% | $55.8M 100.0% | $31.4M 100.0% | $10.7M 100.0% | $4.7M 100.0% | $4.1M 100.0% | $4.4M 100.0% |
| Research & Development | $107.8M 1622.5% | $135.0M 990.4% | $172.6M 271.7% | $320.5M 332.8% | $215.5M 385.9% | $125.6M 399.6% | $87.8M 821.8% | $56.0M 1181.9% | $34.4M 836.8% | $26.5M 600.9% |
| Selling, General & Admin | $46.5M 700.0% | $74.2M 544.1% | $81.4M 128.2% | $84.2M 87.5% | $57.3M 102.6% | $33.9M 107.8% | $23.6M 221.3% | $15.8M 333.5% | $11.9M 289.2% | $9.9M 225.2% |
| Total Operating Expenses | $154.3M 2322.4% | $223.9M 1642.6% | $254.0M 399.9% | $404.7M 420.2% | $272.8M 488.6% | $159.5M 507.5% | $111.4M 1043.1% | $71.8M 1515.4% | $46.2M 1125.9% | $36.4M 826.1% |
| Operating Income | -$147.7M -2222.4% | -$210.3M -1542.6% | -$190.5M -299.9% | -$308.4M -320.2% | -$217.0M -388.6% | -$128.1M -407.5% | -$100.7M -943.1% | -$67.1M -1415.4% | -$42.1M -1025.9% | -$32.0M -726.1% |
| Interest Expense | — | — | — | — | $0 0.0% | $0 0.0% | $1.8M 16.4% | $1.7M 35.8% | $1.3M 30.9% | $1.6M 37.2% |
| Interest & Investment Income | $11.1M 166.3% | $17.3M 126.8% | $17.2M 27.1% | $5.8M 6.1% | $1.3M 2.3% | $2.4M 7.6% | $4.3M 40.5% | $2.2M 46.2% | $559K 13.6% | $138K 3.1% |
| Other Income (Expense), net | $11.4M 171.4% | $24.0M 176.2% | $29.6M 46.6% | $26.7M 27.7% | $4.8M 8.7% | -$45.3M -144.1% | $2.6M 24.1% | $494K 10.4% | -$827K -20.1% | -$1.5M -34.1% |
| Income Tax Expense | $2K 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | — | — | — |
| Net Income | -$136.3M -2051.1% | -$186.3M -1366.5% | -$160.9M -253.3% | -$281.7M -292.5% | -$212.2M -379.9% | -$173.4M -551.6% | -$98.1M -919.0% | -$66.6M -1405.0% | -$43.0M -1046.1% | -$33.5M -760.2% |
| Per Share | ||||||||||
| EPS (Basic) | $-1.15 | $-1.64 | $-1.64 | $-2.91 | $-2.24 | $-2.10 | — | — | — | — |
| EPS (Diluted) | $-1.15 | $-1.64 | $-1.64 | $-2.91 | $-2.24 | $-2.10 | — | — | — | — |
| Weighted Avg Shares (Basic) | 118.8M | 113.7M | 98.4M | 96.8M | 94.7M | 82.4M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 118.8M | 113.7M | 98.4M | 96.8M | 94.7M | 82.4M | — | — | — | — |
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.
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 |
| FATE | $291M | — | — | 43.7× | -51.2% | — | -2051% | -65.8% | -65.8% | — | 154 |
Peers = companies sharing FATE'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.