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Held by 306 of 5,944 reporting institutions (94th 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 $63.89 today, the market must believe free cash flow compounds 13.5%/yr for a decade (off $128M normalized FCF).
The market's 13.5% is more conservative than its 9-yr track record.
2-stage DCF · 0.06B shares · net debt $262M
mean 92.0% · volatility σ 163% · implied rate exceeded in 5/9 yrs
Central path = implied 13.5%/yr growth; shaded band = ±1σ (163%) 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 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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
8/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 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; 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 18% of free cash flow, leaving room to grow it and fund buybacks. Last year: $34M dividends + $40M buybacks = $74M returned on $187M FCF.
6 consecutive years of dividend increases · 53%/yr.
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: 10%. 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 $130M covers the $10M due within a year 13.2× 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).
Coverage is adequate but not comfortable. Effective rate ~7.8% on $391M of debt.
Cash vs short-term debt unavailable.
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
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 | $513.2M 100.0% | $402.7M 100.0% | $389.3M 100.0% | $252.3M 100.0% | $267.0M 100.0% | $160.6M 100.0% | $127.1M 100.0% | $110.3M 100.0% | $100.0M 100.0% | $96.9M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | $64.1M 50.4% | $51.3M 46.5% | $67.2M 67.2% | $62.2M 64.2% |
| Gross Profit | $221.0M 43.1% | $167.2M 41.5% | $153.3M 39.4% | $106.4M 42.2% | — | — | — | — | — | — |
| Total Operating Expenses | $367.0M 71.5% | $307.2M 76.3% | $298.6M 76.7% | $190.9M 75.6% | $172.5M 64.6% | $113.5M 70.7% | $95.8M 75.4% | $80.9M 73.3% | $96.5M 96.4% | $93.8M 96.8% |
| Operating Income | $146.2M 28.5% | $95.6M 23.7% | $90.7M 23.3% | $61.5M 24.4% | $94.5M 35.4% | $47.1M 29.3% | $31.3M 24.6% | $29.4M 26.7% | $3.6M 3.6% | $3.1M 3.2% |
| Interest Expense | $30.5M 5.9% | $33.6M 8.3% | $30.6M 7.9% | $18.4M 7.3% | $15.9M 5.9% | $13.6M 8.4% | $12.3M 9.7% | $11.8M 10.7% | $12.1M 12.1% | $12.3M 12.7% |
| Interest & Investment Income | $1.4M 0.3% | $1.6M 0.4% | $1.7M 0.4% | $1.1M 0.4% | $874K 0.3% | $345K 0.2% | $320K 0.3% | $547K 0.5% | $384K 0.4% | $348K 0.4% |
| Other Income (Expense), net | $8.9M 1.7% | $2.8M 0.7% | $9.3M 2.4% | $33.1M 13.1% | $4.3M 1.6% | $12.1M 7.5% | $4.9M 3.8% | $1.5M 1.3% | $37.8M 37.8% | $19.5M 20.2% |
| Pretax Income | $155.1M 30.2% | $98.3M 24.4% | $100.1M 25.7% | $94.6M 37.5% | $98.7M 37.0% | $59.1M 36.8% | $36.2M 28.5% | $30.9M 28.0% | $41.4M 41.3% | $22.6M 23.3% |
| Income Tax Expense | $39.2M 7.6% | $26.0M 6.4% | $26.0M 6.7% | $24.4M 9.7% | $25.0M 9.4% | $13.7M 8.5% | $9.4M 7.4% | -$736K -0.7% | -$17.9M -17.9% | $7.1M 7.4% |
| Net Income | $115.6M 22.5% | $74.2M 18.4% | $77.7M 20.0% | $70.9M 28.1% | $74.6M 27.9% | $45.2M 28.2% | $26.8M 21.1% | $32.4M 29.4% | $59.6M 59.6% | $15.9M 16.4% |
| Per Share | ||||||||||
| EPS (Basic) | $2.00 | $1.27 | $1.33 | $1.21 | $1.27 | $0.77 | $0.45 | — | — | — |
| EPS (Diluted) | $1.99 | $1.27 | $1.33 | $1.21 | $1.27 | $0.77 | $0.45 | — | — | — |
| Weighted Avg Shares (Basic) | 57.9M | 58.3M | 58.3M | 58.7M | 58.9M | 59.0M | 60.0M | — | — | — |
| Weighted Avg Shares (Diluted) | 58.0M | 58.3M | 58.3M | 58.7M | 58.9M | 59.0M | 60.0M | — | — | — |
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.
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 material risks flagged.
Where each multiple sits in its own 14-yr range · 41th 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 1.9× 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 | 46.5 | 50.4 | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | 42.2 | 39.4 | 41.5 | 43.1 |
| Operating Income | 26.7 | 24.6 | 29.3 | 35.4 | 24.4 | 23.3 | 23.7 | 28.5 |
| Income Tax | -0.7 | 7.4 | 8.5 | 9.4 | 9.7 | 6.7 | 6.4 | 7.6 |
| Net Income | 29.4 | 21.1 | 28.2 | 27.9 | 28.1 | 20.0 | 18.4 | 22.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on JOE: 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 240 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WELL | $163.3B | 168.7× | — | 15.1× | 35.6% | 40.1% | 8.9% | 2.3% | 1.6% | — | 1,425 |
| XHG | $130.7B | — | — | 2546.6× | 24.9% | 2.2% | -205% | 85.0% | 88.3% | — | 1 |
| PLD | $124.3B | 37.6× | — | 14.1× | 7.2% | — | 37.9% | 6.3% | 3.8% | — | 1,592 |
| EQIX | $100.8B | 74.6× | 25.7× | 10.9× | 5.4% | 51.1% | 14.6% | 9.5% | 8.7% | 0.3× | 1,229 |
| AMT | $81.9B | 32.5× | 14.1× | 7.7× | 5.1% | — | 24.7% | 72.0% | 37.3% | 0.6× | 1,662 |
| SPG | $66.2B | 14.3× | — | 10.4× | 6.7% | — | 84.3% | 103% | 15.9% | — | 1,242 |
| O | $53.4B | 48.9× | — | 9.3× | 9.1% | — | 18.4% | 2.7% | 2.7% | — | 1,389 |
| PSA | $51.7B | 32.7× | — | 10.7× | 2.7% | — | 37.0% | 19.3% | 9.1% | — | 1,045 |
| VTR | $41.9B | 163.3× | — | 7.2× | 18.5% | — | 4.5% | 2.1% | 1.0% | — | 891 |
| CBRE | $41.2B | 36.2× | — | 1.0× | 13.4% | 18.7% | 2.9% | 13.0% | 7.1% | — | 1,020 |
| IRM | $33.7B | 232.7× | 22.9× | 4.9× | 12.2% | — | 2.2% | -15.5% | 1.0% | 7.5× | 1,043 |
| EXR | $29.4B | 30.3× | 13.7× | 8.7× | 3.7% | 72.8% | 28.8% | 7.3% | 7.3% | — | 722 |
| AVB | $26.6B | 25.6× | 12.2× | 8.7× | 4.4% | — | 34.7% | 9.1% | 5.0% | 3.2× | 715 |
| VICI | $26.2B | 9.4× | — | 6.5× | 4.1% | 99.3% | 69.3% | 10.0% | 6.2% | — | 898 |
| EQR | $25.6B | 23.0× | — | — | — | — | — | 10.1% | 5.8% | — | 681 |
| SBAC | $19.0B | 18.4× | 21.5× | 6.8× | 5.1% | 75.5% | 37.4% | -21.7% | 13.1% | 8.7× | 636 |
| BEKE | $17.6B | 133.3× | 37.9× | 1.3× | 5.6% | 21.4% | 3.2% | 4.5% | 4.5% | — | 197 |
| ESS | $17.5B | 26.0× | 11.5× | 9.3× | 6.4% | 69.9% | 37.2% | 12.7% | 12.7% | — | 582 |
| INVH | $16.6B | 28.3× | — | 6.1× | 4.2% | — | 21.5% | 6.2% | 3.3% | — | 560 |
| JLL | $15.8B | 20.5× | 11.8× | 0.6× | 11.4% | — | 3.0% | 10.6% | 10.4% | 0.1× | 615 |
| WY | $15.7B | 48.5× | 16.8× | 2.3× | -3.1% | 14.8% | 4.7% | 3.4% | 2.2% | 4.5× | 868 |
| KIM | $15.2B | — | 16.3× | 7.1× | 5.1% | — | 27.3% | 5.6% | 3.2% | 5.5× | 633 |
| NLY | $15.1B | 7.3× | — | — | — | — | — | 12.6% | 12.6% | — | 743 |
| HST | $15.1B | 19.9× | — | 2.5× | 7.6% | — | 12.5% | 11.7% | 9.8% | — | 656 |
| LAMR | $14.9B | 25.4× | — | 6.6× | 2.7% | 67.0% | 25.9% | 57.3% | 13.2% | — | 655 |
| JOE | $3.7B | 32.1× | 20.3× | 7.2× | 27.4% | 43.1% | 22.5% | 15.1% | 10.0% | 2.0× | 306 |
Peers = companies sharing JOE's sector (Real Estate) 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.