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Institutional distribution: ownership decreased -2.77% quarter-over-quarter.
Data as of Q1 2026
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How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -30%. 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.
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. Educational — not a recommendation.
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 | $95.7M 100.0% | $243.3M 100.0% | $368.3M 100.0% | $396.0M 100.0% | $321.4M 100.0% | $204.5M 100.0% | $205.2M 100.0% | $291.0M 100.0% | $275.0M 100.0% | $253.2M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | $191.8M 65.9% | $224.2M 81.5% | $191.7M 75.7% |
| Cost of Products | — | — | — | — | — | — | — | — | $224.2M 81.5% | $191.7M 75.7% |
| Gross Profit | -$39.4M -41.2% | $19.6M 8.1% | $41.0M 11.1% | $29.0M 7.3% | $23.5M 7.3% | $31.3M 15.3% | $74.1M 36.1% | $73.4M 25.2% | $20.3M 7.4% | $46.9M 18.5% |
| Research & Development | $3.9M 4.0% | $4.0M 1.6% | $4.4M 1.2% | $3.4M 0.9% | $3.5M 1.1% | $3.0M 1.5% | $3.2M 1.6% | $3.5M 1.2% | $3.7M 1.3% | $2.7M 1.1% |
| Selling, General & Admin | $9.7M 10.1% | $9.3M 3.8% | $9.2M 2.5% | $8.0M 2.0% | — | — | — | — | — | — |
| Total Operating Expenses | $13.6M 14.2% | $13.3M 5.5% | $13.6M 3.7% | $11.4M 2.9% | $10.6M 3.3% | $9.0M 4.4% | $8.8M 4.3% | $10.0M 3.4% | $10.4M 3.8% | $10.3M 4.1% |
| Operating Income | -$53.0M -55.3% | $6.4M 2.6% | $27.4M 7.4% | $17.5M 4.4% | $12.9M 4.0% | $22.3M 10.9% | $65.3M 31.8% | $63.4M 21.8% | $9.9M 3.6% | $36.5M 14.4% |
| Interest Expense | $153K 0.2% | $138K 0.1% | $138K 0.0% | $128K 0.0% | $131K 0.0% | $151K 0.1% | $173K 0.1% | $173K 0.1% | $172K 0.1% | $173K 0.1% |
| Other Income (Expense), net | $3.8M 3.9% | $9.9M 4.1% | $10.0M 2.7% | -$3.8M -1.0% | $3.0M 0.9% | $9.4M 4.6% | $14.5M 7.1% | -$3.3M -1.1% | $6.8M 2.5% | $4.3M 1.7% |
| Pretax Income | -$49.2M -51.4% | $16.3M 6.7% | $37.4M 10.2% | $13.7M 3.5% | $15.9M 5.0% | $31.8M 15.5% | $79.8M 38.9% | $60.2M 20.7% | $16.6M 6.1% | $40.8M 16.1% |
| Income Tax Expense | $165K 0.2% | $792K 0.3% | $1K 0.0% | -$1.5M -0.4% | -$10.3M -3.2% | -$14.8M -7.2% | -$8.4M -4.1% | $7.0M 2.4% | -$6.9M -2.5% | -$15.5M -6.1% |
| Net Income | -$49.4M -51.6% | $15.5M 6.4% | $37.4M 10.2% | $15.2M 3.8% | $26.3M 8.2% | $46.6M 22.8% | $88.2M 43.0% | $53.2M 18.3% | $23.5M 8.5% | $56.3M 22.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-1.13 | $0.35 | $0.85 | $0.35 | $0.60 | $1.06 | $2.02 | $1.22 | $0.54 | $1.29 |
| EPS (Diluted) | $-1.13 | $0.35 | $0.85 | $0.35 | $0.60 | $1.06 | $2.02 | $1.22 | $0.54 | $1.29 |
| Weighted Avg Shares (Basic) | 43.9M | 43.8M | 43.8M | 43.8M | 43.8M | 43.7M | 43.7M | 43.7M | 43.7M | 43.5M |
| Weighted Avg Shares (Diluted) | 43.9M | 43.8M | 43.8M | 43.8M | 43.8M | 43.7M | 43.7M | 43.7M | 43.7M | 43.5M |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $5.48 today, the market must believe free cash flow compounds 3.7%/yr for a decade (off $13M normalized FCF).
2-stage DCF · 0.04B shares · net debt -$51M
mean -51.5% · volatility σ 215% · implied rate exceeded in 3/9 yrs
Central path = implied 3.7%/yr growth; shaded band = ±1σ (215%) 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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/8 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 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.
Free-cash-flow coverage unavailable. Last year: $11M dividends + $0 buybacks = $11M 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.
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.
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
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 100th 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 15.4× 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 | 65.9 | — | — | — | — | — | — | — |
| Gross Profit | 25.2 | 36.1 | 15.3 | 7.3 | 7.3 | 11.1 | 8.1 | -41.2 |
| R&D | 1.2 | 1.6 | 1.5 | 1.1 | 0.9 | 1.2 | 1.6 | 4.0 |
| SG&A | — | — | — | — | 2.0 | 2.5 | 3.8 | 10.1 |
| Operating Income | 21.8 | 31.8 | 10.9 | 4.0 | 4.4 | 7.4 | 2.6 | -55.3 |
| Income Tax | 2.4 | -4.1 | -7.2 | -3.2 | -0.4 | 0.0 | 0.3 | 0.2 |
| Net Income | 18.3 | 43.0 | 22.8 | 8.2 | 3.8 | 10.2 | 6.4 | -51.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FF: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BHP | $439.4B | — | — | — | — | — | — | — | — | — | 713 |
| LIN | $215.3B | 31.4× | 19.3× | 6.3× | 3.0% | — | 20.3% | 18.0% | 10.9% | 2.1× | 2,148 |
| SCCO | $162.1B | 37.4× | 20.9× | 12.1× | 17.4% | 60.1% | 32.4% | 39.4% | 24.4% | 0.9× | 791 |
| CX | $147.8B | — | — | — | — | — | — | — | — | — | 297 |
| TX | $116.5B | — | — | — | — | — | — | — | — | — | 139 |
| FCX | $101.8B | — | 12.3× | 3.9× | 1.8% | 28.2% | 16.0% | 22.0% | 14.7% | 1.1× | 1,775 |
| AEM | $100.7B | — | — | — | — | — | — | — | — | — | 1,066 |
| SHW | $79.5B | 31.3× | — | 3.4× | 2.1% | 48.8% | 10.9% | 55.9% | 17.0% | — | 1,610 |
| ECL | $76.6B | 37.3× | 22.5× | 4.8× | 2.2% | 44.5% | 12.9% | 21.2% | 19.5% | 0.3× | 1,619 |
| B | $73.2B | — | — | — | — | — | — | — | — | — | 979 |
| WPM | $69.1B | — | — | — | — | — | — | — | — | — | 809 |
| APD | $63.7B | — | 90.0× | 5.3× | -0.5% | 31.4% | -3.3% | -2.6% | -2.6% | 0.1× | 1,702 |
| VALE | $61.6B | — | — | — | — | — | — | — | — | — | 537 |
| NUE | $61.2B | 35.3× | — | 1.9× | 5.7% | 11.9% | 5.4% | 8.3% | 8.3% | — | 1,325 |
| CRH | $58.0B | 15.7× | 9.3× | 1.6× | 5.3% | 36.1% | 10.0% | 15.6% | 9.2% | 2.2× | 9 |
| MT | $57.2B | — | — | — | — | — | — | — | — | — | 286 |
| DD | $53.6B | — | — | 7.8× | 1.9% | 34.5% | -11.4% | -5.6% | -5.6% | — | 1,172 |
| AU | $51.7B | — | — | — | — | — | — | — | — | — | 537 |
| FNV | $51.4B | — | — | — | — | — | — | — | — | — | 614 |
| NTR | $37.7B | — | — | — | — | — | — | — | — | — | 718 |
| STLD | $35.6B | 30.7× | 19.2× | 2.0× | 3.6% | 13.2% | 6.5% | 13.2% | 9.0% | 2.1× | 893 |
| KGC | $34.2B | — | — | — | — | — | — | — | — | — | 630 |
| VMC | $31.9B | 30.1× | 15.3× | 4.0× | 7.1% | 27.4% | 13.6% | 12.6% | 8.4% | 1.8× | 981 |
| MLM | $29.8B | 26.3× | 16.9× | 4.8× | 8.6% | 30.7% | 18.5% | 11.3% | 7.4% | 2.6× | 1,022 |
| PPG | $23.6B | 15.2× | — | 1.5× | 0.2% | 41.3% | 9.9% | 19.8% | 10.3% | — | 1,003 |
| FF | $240M | — | — | 2.5× | -60.7% | -41.2% | -51.6% | -30.4% | -30.4% | — | 95 |
Peers = companies sharing FF's sector (Basic Materials) 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.