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Held by 362 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 $47.48 today, the market must believe free cash flow compounds 10.1%/yr for a decade (off $282M normalized FCF).
The market's 10.1% is more conservative than its 6-yr track record.
2-stage DCF · 0.11B shares · net debt $1.7B
mean 34.0% · volatility σ 65% · implied rate exceeded in 3/6 yrs
Central path = implied 10.1%/yr growth; shaded band = ±1σ (65%) 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.
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 192 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.15T | 31.8× | 27.8× | 10.3× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.72T | 29.1× | 17.1× | 8.6× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.40T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $354.7B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $318.0B | 29.8× | 23.7× | 7.0× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $204.2B | 11.9× | 4.2× | 1.5× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $200.2B | 15.4× | 10.3× | 2.1× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $184.2B | 17.1× | 8.3× | 2.1× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $182.0B | 8.3× | 6.8× | 1.4× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.2B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $83.1B | 91.3× | 53.5× | 6.1× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $70.0B | 97.4× | 15.3× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| LYV | $39.6B | — | 25.1× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TTWO | $39.0B | — | 424.4× | 5.9× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| TWLO | $37.5B | 1172.6× | 107.1× | 7.4× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $28.5B | 58.3× | 60.1× | 12.9× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $26.9B | 11.9× | — | 1.6× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $24.6B | — | 57.5× | 1.4× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $22.8B | 261.1× | 530.2× | 4.8× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.5B | — | 39.5× | 4.8× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| NWS | $18.9B | 16.1× | — | 2.2× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| CHTR | $18.0B | 3.7× | 5.3× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| TKO | $15.3B | 83.8× | 13.8× | 3.2× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
| IRDM | $5.1B | 44.8× | 15.1× | 5.8× | 4.9% | — | 13.1% | 24.7% | 5.1% | 3.9× | 362 |
Peers = companies sharing IRDM's sector (Communication Services) 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.
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 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $871.7M 100.0% | $830.7M 100.0% | $790.7M 100.0% | $721.0M 100.0% | $614.5M 100.0% | $583.4M 100.0% | $560.4M 100.0% | $523.0M 100.0% | $448.0M 100.0% | $433.6M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | — | $44.4M 9.9% | $44.3M 10.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $44.4M 9.9% | $44.3M 10.2% |
| Cost of Services | — | — | — | — | — | — | — | $86.0M 16.4% | $80.4M 17.9% | $65.0M 15.0% |
| Research & Development | $19.8M 2.3% | $28.4M 3.4% | $20.3M 2.6% | $16.2M 2.2% | $11.9M 1.9% | $12.0M 2.1% | $14.3M 2.6% | $22.4M 4.3% | $15.2M 3.4% | $16.1M 3.7% |
| Selling, General & Admin | $157.7M 18.1% | $168.2M 20.2% | $143.7M 18.2% | $123.5M 17.1% | $100.5M 16.4% | $90.1M 15.4% | $93.2M 16.6% | $97.8M 18.7% | $84.4M 18.8% | $82.6M 19.0% |
| Total Operating Expenses | $635.7M 72.9% | $630.3M 75.9% | $709.1M 89.7% | $644.4M 89.4% | $568.2M 92.5% | $548.0M 93.9% | $550.3M 98.2% | $481.4M 92.0% | $346.8M 77.4% | $257.3M 59.3% |
| Operating Income | $236.0M 27.1% | $200.4M 24.1% | $81.6M 10.3% | $76.7M 10.6% | $46.3M 7.5% | $35.5M 6.1% | $10.1M 1.8% | $41.7M 8.0% | $115.5M 25.8% | $176.4M 40.7% |
| Interest Expense | $14.7M 1.7% | $14.7M 1.8% | $14.7M 1.9% | — | — | — | — | — | $86.7M 19.4% | $77.7M 17.9% |
| Other Income (Expense), net | -$91.2M -10.5% | -$90.6M -10.9% | -$86.4M -10.9% | -$66.2M -9.2% | -$75.2M -12.2% | -$124.4M -21.3% | -$228.2M -40.7% | -$62.3M -11.9% | $4.1M 0.9% | $1.8M 0.4% |
| Pretax Income | $144.8M 16.6% | $109.8M 13.2% | -$4.7M -0.6% | $10.5M 1.5% | -$28.9M -4.7% | -$89.0M -15.2% | -$218.1M -38.9% | -$20.6M -3.9% | $119.6M 26.7% | $178.2M 41.1% |
| Income Tax Expense | $27.6M 3.2% | $12.3M 1.5% | -$26.3M -3.3% | $292K 0.0% | -$19.6M -3.2% | -$32.9M -5.6% | -$56.1M -10.0% | -$7.3M -1.4% | -$114.3M -25.5% | $67.1M 15.5% |
| Net Income | $114.4M 13.1% | $112.8M 13.6% | $15.4M 1.9% | $8.7M 1.2% | -$9.3M -1.5% | -$56.1M -9.6% | -$162.0M -28.9% | -$13.4M -2.6% | $233.9M 52.2% | $111.0M 25.6% |
| Per Share | ||||||||||
| EPS (Basic) | $1.07 | $0.95 | $0.12 | $0.07 | $-0.07 | $-0.42 | $-1.33 | $-0.22 | $2.23 | $1.00 |
| EPS (Diluted) | $1.06 | $0.94 | $0.12 | $0.07 | — | — | $-1.33 | $-0.22 | $1.82 | $0.89 |
| Weighted Avg Shares (Basic) | 107.2M | 118.6M | 125.6M | 128.3M | 133.5M | 133.5M | 125.2M | 109.0M | 97.9M | 96.0M |
| Weighted Avg Shares (Diluted) | 107.8M | 119.8M | 127.2M | 130.1M | 133.5M | 133.5M | 125.2M | 109.0M | 128.1M | 124.9M |
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.
7/8 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
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; 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.
The dividend is comfortably covered — only 21% of free cash flow, leaving room to grow it and fund buybacks. Last year: $63M dividends + $186M buybacks = $249M returned on $300M 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.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. 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 $97M covers the $33M due within a year 2.9× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (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 $1.8B of debt.
Cash of $97M fully covers short-term debt of $3M.
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.
EOD close · as of 2026-09-17
Where each multiple sits in its own 14-yr range · 80th 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 3.6× 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 |
|---|---|---|---|---|---|---|---|---|
| R&D | 4.3 | 2.6 | 2.1 | 1.9 | 2.2 | 2.6 | 3.4 | 2.3 |
| SG&A | 18.7 | 16.6 | 15.4 | 16.4 | 17.1 | 18.2 | 20.2 | 18.1 |
| Operating Income | 8.0 | 1.8 | 6.1 | 7.5 | 10.6 | 10.3 | 24.1 | 27.1 |
| Income Tax | -1.4 | -10.0 | -5.6 | -3.2 | 0.0 | -3.3 | 1.5 | 3.2 |
| Net Income | -2.6 | -28.9 | -9.6 | -1.5 | 1.2 | 1.9 | 13.6 | 13.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on IRDM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.