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Held by 330 of 5,944 reporting institutions (95th percentile) — extremely crowded.
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 $24.57 today, the market must believe free cash flow compounds 31.1%/yr for a decade (off $36M normalized FCF).
The market's 31.1% is more conservative than its 1-yr track record.
2-stage DCF · 0.15B shares · net debt $181M
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 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
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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $624.0M 100.0% | $543.7M 100.0% | $506.0M 100.0% | $432.7M 100.0% | $354.3M 100.0% | $290.9M 100.0% | $200.5M 100.0% | $144.6M 100.0% | $104.9M 100.0% |
| Cost of Revenue | $267.8M 42.9% | $247.7M 45.6% | $239.7M 47.4% | $222.9M 51.5% | $167.0M 47.1% | $120.0M 41.3% | $88.3M 44.1% | $65.5M 45.3% | $48.7M 46.4% |
| Gross Profit | $356.2M 57.1% | $295.9M 54.4% | $266.3M 52.6% | $209.8M 48.5% | $187.3M 52.9% | $170.9M 58.7% | $112.1M 55.9% | $79.1M 54.7% | $56.2M 53.6% |
| Research & Development | $162.7M 26.1% | $138.0M 25.4% | $152.2M 30.1% | $155.3M 35.9% | $126.9M 35.8% | $74.8M 25.7% | $46.5M 23.2% | $34.6M 23.9% | $29.0M 27.6% |
| Selling, General & Admin | $110.7M 17.7% | $113.4M 20.9% | $116.1M 22.9% | $120.8M 27.9% | $126.8M 35.8% | $102.1M 35.1% | $41.1M 20.5% | $23.4M 16.2% | $17.5M 16.6% |
| Total Operating Expenses | $475.2M 76.2% | $463.9M 85.3% | $464.4M 91.8% | $456.0M 105.4% | $406.3M 114.7% | $278.1M 95.6% | $158.7M 79.2% | $108.2M 74.8% | $87.3M 83.2% |
| Operating Income | -$119.0M -19.1% | -$167.9M -30.9% | -$198.0M -39.1% | -$246.2M -56.9% | -$219.0M -61.8% | -$107.2M -36.9% | -$46.5M -23.2% | -$29.1M -20.2% | -$31.0M -29.6% |
| Interest Expense | $12.7M 2.0% | $2.7M 0.5% | $4.1M 0.8% | $5.9M 1.4% | $5.2M 1.5% | $1.5M 0.5% | $5.2M 2.6% | $1.8M 1.3% | $1.1M 1.1% |
| Interest & Investment Income | $12.3M 2.0% | $14.9M 2.7% | $18.2M 3.6% | $7.0M 1.6% | $1.3M 0.4% | $1.6M 0.6% | $3.3M 1.6% | $939K 0.6% | $443K 0.4% |
| Other Income (Expense), net | -$721K -0.1% | -$1.0M -0.2% | -$1.8M -0.4% | -$29K -0.0% | $356K 0.1% | -$279K -0.1% | -$2.6M -1.3% | -$741K -0.5% | -$539K -0.5% |
| Pretax Income | -$119.2M -19.1% | -$155.5M -28.6% | -$133.3M -26.3% | -$190.7M -44.1% | -$222.6M -62.8% | -$107.4M -36.9% | -$51.1M -25.5% | -$30.8M -21.3% | -$32.2M -30.7% |
| Income Tax Expense | $2.5M 0.4% | $2.6M 0.5% | -$221K -0.0% | $94K 0.0% | $69K 0.0% | -$11.5M -3.9% | $492K 0.2% | $185K 0.1% | $208K 0.2% |
| Net Income | -$121.7M -19.5% | -$158.1M -29.1% | -$133.1M -26.3% | -$190.8M -44.1% | -$222.7M -62.9% | -$95.9M -33.0% | -$51.5M -25.7% | -$30.9M -21.4% | -$32.5M -30.9% |
| Per Share | |||||||||
| EPS (Basic) | $-0.83 | $-1.14 | $-1.03 | $-1.57 | $-1.92 | $-0.93 | $-0.75 | — | — |
| EPS (Diluted) | $-0.83 | $-1.14 | $-1.03 | $-1.57 | $-1.92 | $-0.93 | $-0.75 | — | — |
| Weighted Avg Shares (Basic) | 146.9M | 138.1M | 128.8M | 121.7M | 116.1M | 103.6M | 68.3M | — | — |
| Weighted Avg Shares (Diluted) | 146.9M | 138.1M | 128.8M | 121.7M | 116.1M | 103.6M | 68.3M | — | — |
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.
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; leverage falling 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $66M 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 9 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: -9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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. Effective rate ~3.5% on $362M of debt.
Cash of $181M fully covers short-term debt of $39M.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. 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.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 7-yr range · 57th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-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 | 45.3 | 44.1 | 41.3 | 47.1 | 51.5 | 47.4 | 45.6 | 42.9 |
| Gross Profit | 54.7 | 55.9 | 58.7 | 52.9 | 48.5 | 52.6 | 54.4 | 57.1 |
| R&D | 23.9 | 23.2 | 25.7 | 35.8 | 35.9 | 30.1 | 25.4 | 26.1 |
| SG&A | 16.2 | 20.5 | 35.1 | 35.8 | 27.9 | 22.9 | 20.9 | 17.7 |
| Operating Income | -20.2 | -23.2 | -36.9 | -61.8 | -56.9 | -39.1 | -30.9 | -19.1 |
| Income Tax | 0.1 | 0.2 | -3.9 | 0.0 | 0.0 | -0.0 | 0.5 | 0.4 |
| Net Income | -21.4 | -25.7 | -33.0 | -62.9 | -44.1 | -26.3 | -29.1 | -19.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FSLY: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 743 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TSM | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| FSLY | $3.7B | — | — | 6.0× | 14.8% | 57.1% | -19.5% | -13.1% | -9.4% | -6.2× | 330 |
Peers = companies sharing FSLY's sector (Technology) 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.