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Institutional accumulation: ownership increased +1.64% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
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.
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 2026-09-18
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 | $1.5M 100.0% | $1.0M 100.0% | $1.9M 100.0% | $1.7M 100.0% | $4.4M 100.0% | $40.1M 100.0% | $29.5M 100.0% | $24.5M 100.0% | $27.8M 100.0% | $22.6M 100.0% |
| Cost of Revenue | — | — | — | — | — | $21.4M 53.3% | $20.9M 70.8% | $15.8M 64.7% | $18.1M 65.1% | $17.8M 78.7% |
| Cost of Products | — | — | — | — | — | — | — | — | $18.1M 65.1% | $17.8M 78.7% |
| Research & Development | $6.7M 437.3% | $5.8M 577.5% | $3.6M 190.7% | $8.4M 503.7% | $6.3M 142.8% | $3.9M 9.8% | $9.1M 30.9% | $12.6M 51.3% | $15.5M 55.7% | $15.3M 67.4% |
| Selling, General & Admin | $16.3M 1065.1% | $22.8M 2261.9% | $21.8M 1157.1% | $18.0M 1078.8% | $18.1M 409.6% | $11.8M 29.5% | $21.3M 72.2% | $27.2M 111.2% | $20.5M 73.8% | $17.0M 74.9% |
| Total Operating Expenses | $49.2M 3213.6% | $93.4M 9252.0% | $57.6M 3049.9% | $69.2M 4154.9% | $59.4M 1345.0% | $44.9M 111.9% | $55.9M 189.4% | $64.4M 263.4% | $58.1M 208.8% | $43.1M 190.4% |
| Operating Income | -$9.9M -643.9% | -$43.1M -4268.3% | -$17.2M -910.0% | -$21.8M -1308.5% | -$13.8M -311.7% | -$4.8M -11.9% | -$26.4M -89.4% | -$40.0M -163.4% | -$30.3M -108.8% | -$20.5M -90.4% |
| Interest & Investment Income | — | — | — | — | — | — | $544K 1.8% | $640K 2.6% | $776K 2.8% | $658K 2.9% |
| Other Income (Expense), net | $12.7M 827.9% | -$599K -59.3% | -$2.4M -127.9% | $2.6M 156.6% | $436K 9.9% | $361K 0.9% | -$2.9M -9.8% | $5.5M 22.5% | $2.0M 7.0% | $571K 2.5% |
| Pretax Income | $2.8M 183.9% | -$43.7M -4327.6% | -$19.6M -1037.9% | -$19.2M -1151.9% | -$13.3M -301.8% | -$4.4M -11.0% | -$29.3M -99.1% | -$34.5M -140.8% | -$28.3M -101.8% | -$19.9M -87.9% |
| Income Tax Expense | $208K 13.6% | $170K 16.8% | $156K 8.3% | $144K 8.6% | $129K 2.9% | $129K 0.3% | $108K 0.4% | $30K 0.1% | $3.0M 10.6% | -$3.1M -13.8% |
| Net Income | $2.5M 166.6% | -$43.9M -4344.4% | -$19.7M -1046.2% | -$19.3M -1160.5% | -$13.4M -303.9% | -$4.4M -11.0% | -$29.5M -100.0% | -$34.5M -141.2% | -$25.2M -90.7% | -$23.6M -104.1% |
| Per Share | ||||||||||
| EPS (Basic) | $0.01 | $-0.33 | $-0.18 | $-0.21 | $-0.15 | $-0.05 | — | — | — | $-0.37 |
| EPS (Diluted) | $0.01 | $-0.33 | $-0.18 | $-0.21 | $-0.15 | — | — | — | — | $-0.37 |
| Weighted Avg Shares (Basic) | 171.3M | 132.9M | 109.0M | 91.4M | 88.8M | 82.3M | — | — | — | 64.0M |
| Weighted Avg Shares (Diluted) | 175.1M | 132.9M | 109.0M | 91.4M | 88.8M | — | — | — | — | 64.0M |
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.
3/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 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.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
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 -$17M 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 reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 4%. 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
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. Educational — not a recommendation.
EOD close · as of 2026-09-18
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 | 64.7 | 70.8 | 53.3 | — | — | — | — | — |
| R&D | 51.3 | 30.9 | 9.8 | 142.8 | 503.7 | 190.7 | 577.5 | 437.3 |
| SG&A | 111.2 | 72.2 | 29.5 | 409.6 | 1078.8 | 1157.1 | 2261.9 | 1065.1 |
| Operating Income | -163.4 | -89.4 | -11.9 | -311.7 | -1308.5 | -910.0 | -4268.3 | -643.9 |
| Income Tax | 0.1 | 0.4 | 0.3 | 2.9 | 8.6 | 8.3 | 16.8 | 13.6 |
| Net Income | -141.2 | -100.0 | -11.0 | -303.9 | -1160.5 | -1046.2 | -4344.4 | 166.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on KOPN: 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 | $11.27T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.40T | 45.4× | 40.5× | 25.0× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.97T | 45.1× | 34.7× | 11.9× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.67T | 27.5× | 19.4× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.70T | 75.0× | 66.9× | 26.5× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.14T | 133.8× | 63.0× | 30.5× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $912.5B | 211.3× | 215.9× | 26.3× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $542.3B | — | 67.3× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $433.7B | 43.0× | 36.4× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $424.8B | 282.0× | 294.0× | 94.9× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $370.4B | 65.4× | 34.9× | 3.3× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $365.5B | 69.4× | 58.4× | 19.8× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $352.5B | 51.3× | 40.5× | 12.4× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $340.5B | — | — | 1101.1× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $309.1B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $293.3B | 324.3× | 252.8× | 59.6× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SNDK | $261.6B | — | — | 35.6× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| SAP | $257.3B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.5B | 72.5× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $242.9B | 227.2× | 151.7× | 26.3× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| TXN | $242.4B | 48.9× | 31.9× | 13.7× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $221.0B | 30.5× | 23.9× | 5.3× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $215.1B | 20.6× | — | 3.2× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $207.0B | 79.6× | 135.2× | 25.3× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $190.9B | 35.5× | 14.3× | 4.3× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| KOPN | $839M | 474.0× | — | 547.9× | 51.5% | — | 170% | 4.1% | 4.1% | — | 157 |
Peers = companies sharing KOPN'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.
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