Loading institutional data...
Loading institutional data...
Held by 212 of 5,944 reporting institutions (92th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $4.23 today, the market must believe free cash flow compounds -18.3%/yr for a decade (off $138M normalized FCF).
The market's -18.3% is more conservative than its 6-yr track record.
2-stage DCF · 0.16B shares · net debt -$215M
mean 771.7% · volatility σ 1887% · implied rate exceeded in 4/6 yrs
Central path = implied -18.3%/yr growth; shaded band = ±1σ (1887%) 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.
4/7 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.
Earnings are backed by cash (FCF ≥ net income) — high quality. 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $127M 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -9%. 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 $215M covers the $11M due within a year 19.9× over. Scheduled principal only (excludes interest & revolver draws). As of 2020-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable.
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
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 | $296.2M 100.0% | $351.4M 100.0% | $442.7M 100.0% | $410.6M 100.0% | $413.8M 100.0% | $389.5M 100.0% | $428.4M 100.0% | $346.6M 100.0% | $298.3M 100.0% | $274.0M 100.0% |
| Cost of Revenue | — | — | — | — | — | $3.1M 0.8% | $23.9M 5.6% | $32.8M 9.4% | $19.1M 6.4% | $1.9M 0.7% |
| Research & Development | $95.1M 32.1% | $111.4M 31.7% | $1.10B 248.5% | $44.3M 10.8% | $70.4M 17.0% | $88.1M 22.6% | $115.0M 26.9% | $101.1M 29.2% | $88.1M 29.6% | $139.5M 50.9% |
| Selling, General & Admin | $82.3M 27.8% | $144.3M 41.1% | $158.3M 35.8% | $116.0M 28.3% | $111.1M 26.9% | $140.0M 35.9% | $172.4M 40.3% | $219.7M 63.4% | $231.2M 77.5% | $173.3M 63.3% |
| Total Operating Expenses | $197.6M 66.7% | $258.3M 73.5% | $1.39B 313.5% | $160.3M 39.0% | $181.5M 43.9% | $246.6M 63.3% | $308.3M 72.0% | $497.3M 143.5% | $313.6M 105.2% | $325.8M 118.9% |
| Operating Income | $98.5M 33.3% | $93.1M 26.5% | -$945.4M -213.5% | $250.3M 61.0% | $232.3M 56.1% | $142.9M 36.7% | $120.1M 28.0% | -$150.7M -43.5% | -$15.4M -5.2% | -$51.9M -18.9% |
| Interest Expense | $32.7M 11.1% | $33.0M 9.4% | $21.6M 4.9% | $7.6M 1.9% | $31.1M 7.5% | $29.5M 7.6% | $36.6M 8.5% | $37.7M 10.9% | $36.4M 12.2% | $39.2M 14.3% |
| Other Income (Expense), net | -$28.5M -9.6% | -$27.9M -7.9% | -$2.6M -0.6% | $2.1M 0.5% | -$31.6M -7.6% | -$34.1M -8.7% | -$61.2M -14.3% | -$43.5M -12.5% | -$39.6M -13.3% | -$29.8M -10.9% |
| Pretax Income | $70.0M 23.6% | $65.2M 18.6% | -$948.1M -214.1% | $252.4M 61.5% | $200.7M 48.5% | $108.9M 27.9% | $58.9M 13.8% | -$194.1M -56.0% | — | — |
| Income Tax Expense | $46.0M 15.5% | $64.3M 18.3% | $83.5M 18.9% | $77.4M 18.8% | -$327.8M -79.2% | $2.7M 0.7% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Net Income | $24.0M 8.1% | $880K 0.3% | -$1.03B -233.0% | $175.1M 42.6% | $528.4M 127.7% | $106.2M 27.3% | $21.5M 5.0% | -$282.4M -81.5% | -$116.9M -39.2% | -$81.7M -29.8% |
| Per Share | ||||||||||
| EPS (Basic) | $0.15 | $0.01 | $-6.45 | $1.13 | $3.26 | $0.67 | $0.14 | $-1.85 | — | — |
| EPS (Diluted) | $0.15 | $0.01 | $-6.45 | $0.96 | $3.21 | $0.66 | $0.14 | $-1.85 | — | — |
| Weighted Avg Shares (Basic) | 161.8M | 159.1M | 155.4M | 154.4M | 162.2M | 159.4M | 156.0M | 152.6M | — | — |
| Weighted Avg Shares (Diluted) | 163.0M | 160.1M | 155.4M | 186.3M | 164.4M | 160.7M | 156.0M | 152.6M | — | — |
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.
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
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
No material risks flagged.
Where each multiple sits in its own 14-yr range · 36th 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
Returns are margin-driven, not leverage-driven — higher quality.
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 | 9.4 | 5.6 | 0.8 | — | — | — | — | — |
| R&D | 29.2 | 26.9 | 22.6 | 17.0 | 10.8 | 248.5 | 31.7 | 32.1 |
| SG&A | 63.4 | 40.3 | 35.9 | 26.9 | 28.3 | 35.8 | 41.1 | 27.8 |
| Operating Income | -43.5 | 28.0 | 36.7 | 56.1 | 61.0 | -213.5 | 26.5 | 33.3 |
| Income Tax | 0.0 | 0.0 | 0.7 | -79.2 | 18.8 | 18.9 | 18.3 | 15.5 |
| Net Income | -81.5 | 5.0 | 27.3 | 127.7 | 42.6 | -233.0 | 0.3 | 8.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on IRWD: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 |
| IRWD | $690M | 28.2× | 4.8× | 2.3× | -15.7% | — | 8.1% | -9.2% | -9.2% | — | 212 |
Peers = companies sharing IRWD'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.