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Held by 593 of 5,944 reporting institutions (97th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $109.68 today, the market must believe free cash flow compounds 13.3%/yr for a decade (off $495M normalized FCF).
The market's 13.3% is more conservative than its 8-yr track record.
2-stage DCF · 0.12B shares · net debt $2.0B
mean 70.4% · volatility σ 205% · implied rate exceeded in 4/6 yrs
Central path = implied 13.3%/yr growth; shaded band = ±1σ (205%) 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.
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 | $1.40B 100.0% | $1.02B 100.0% | $829.3M 100.0% | $660.1M 100.0% | $443.3M 100.0% | $267.6M 100.0% | $196.0M 100.0% | $151.9M 100.0% | $316.6M 100.0% | $146.7M 100.0% |
| Cost of Revenue | $228.8M 16.4% | $159.4M 15.7% | $192.4M 23.2% | $139.3M 21.1% | $81.4M 18.4% | $43.4M 16.2% | $45.5M 23.2% | $10.1M 6.7% | $31.2M 9.8% | $33.2M 22.6% |
| Cost of Products | — | — | — | — | — | — | — | $10.1M 6.7% | $31.2M 9.8% | $33.2M 22.6% |
| Research & Development | — | $79.0M 7.8% | $76.4M 9.2% | $66.6M 10.1% | $35.7M 8.0% | $34.2M 12.8% | $140.8M 71.8% | $150.3M 98.9% | $150.6M 47.6% | $150.8M 102.8% |
| Selling, General & Admin | $207.1M 14.8% | $154.3M 15.2% | $149.2M 18.0% | $143.5M 21.7% | $50.3M 11.4% | $45.7M 17.1% | $77.3M 39.4% | $60.8M 40.0% | $53.8M 17.0% | $45.9M 31.3% |
| Total Operating Expenses | $927.6M 66.4% | $463.8M 45.7% | $491.7M 59.3% | $392.6M 59.5% | $167.4M 37.8% | $123.3M 46.1% | $263.6M 134.5% | $221.2M 145.7% | $235.6M 74.4% | $229.9M 156.7% |
| Operating Income | $469.0M 33.6% | $551.5M 54.3% | $337.6M 40.7% | $267.5M 40.5% | $275.9M 62.2% | $144.3M 53.9% | -$67.6M -34.5% | -$69.3M -45.7% | $81.0M 25.6% | -$83.2M -56.7% |
| Interest Expense | $18.1M 1.3% | $18.1M 1.8% | $18.8M 2.3% | $16.9M 2.6% | $7.5M 1.7% | $20.4M 7.6% | $11.6M 5.9% | $18.0M 11.9% | $22.0M 6.9% | $20.0M 13.6% |
| Other Income (Expense), net | $21.5M 1.5% | $23.8M 2.3% | $16.3M 2.0% | $1.0M 0.2% | $1.1M 0.2% | $5.4M 2.0% | $7.0M 3.6% | $7.6M 5.0% | $2.6M 0.8% | $1.3M 0.9% |
| Pretax Income | $466.9M 33.4% | $557.1M 54.9% | $348.3M 42.0% | $248.9M 37.7% | $248.5M 56.1% | $129.3M 48.3% | -$72.3M -36.9% | -$79.8M -52.5% | $61.6M 19.5% | -$101.9M -69.4% |
| Income Tax Expense | $150.0M 10.7% | $113.0M 11.1% | $66.7M 8.0% | $46.8M 7.1% | -$154.2M -34.8% | $217K 0.1% | -$11K -0.0% | $537K 0.4% | -$1.4M -0.4% | $1.2M 0.8% |
| Net Income | $316.9M 22.7% | $444.1M 43.7% | $281.6M 34.0% | $202.1M 30.6% | $402.7M 90.8% | $129.1M 48.2% | -$72.2M -36.9% | -$80.3M -52.9% | $63.0M 19.9% | -$103.0M -70.2% |
| Per Share | ||||||||||
| EPS (Basic) | $2.64 | $3.50 | $2.13 | $1.48 | $2.86 | $0.95 | $-0.50 | $-0.56 | $0.46 | $-0.81 |
| EPS (Diluted) | $2.56 | $3.43 | $2.10 | $1.44 | $2.74 | $0.91 | $-0.50 | $-0.56 | $0.45 | $-0.81 |
| Weighted Avg Shares (Basic) | 119.8M | 126.8M | 131.9M | 136.8M | 140.6M | 136.2M | 144.3M | 143.6M | 136.4M | 128.0M |
| Weighted Avg Shares (Diluted) | 123.9M | 129.4M | 134.2M | 140.6M | 146.8M | 141.5M | 144.3M | 143.6M | 139.1M | 128.0M |
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
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising 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 + $342M buybacks = $342M returned on $645M 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 balanced mix of reinvestment and shareholder returns.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 14%. 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 $134M covers the $12M due within a year 11.3× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~0.8% on $2.1B of debt.
Cash of $134M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
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 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
Where each multiple sits in its own 14-yr range · 66th 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
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 | 6.7 | 23.2 | 16.2 | 18.4 | 21.1 | 23.2 | 15.7 | 16.4 |
| R&D | 98.9 | 71.8 | 12.8 | 8.0 | 10.1 | 9.2 | 7.8 | — |
| SG&A | 40.0 | 39.4 | 17.1 | 11.4 | 21.7 | 18.0 | 15.2 | 14.8 |
| Operating Income | -45.7 | -34.5 | 53.9 | 62.2 | 40.5 | 40.7 | 54.3 | 33.6 |
| Income Tax | 0.4 | -0.0 | 0.1 | -34.8 | 7.1 | 8.0 | 11.1 | 10.7 |
| Net Income | -52.9 | -36.9 | 48.2 | 90.8 | 30.6 | 34.0 | 43.7 | 22.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HALO: 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 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 | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| HALO | $12.8B | 42.4× | 30.8× | 9.2× | 37.6% | 83.6% | 22.7% | 649% | 14.5% | 4.5× | 593 |
Peers = companies sharing HALO'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.