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Institutional accumulation: ownership increased +1.10% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $7.19 today, the market must believe free cash flow compounds -6.6%/yr for a decade (off $10M normalized FCF).
The market's -6.6% is more conservative than its 9-yr track record.
2-stage DCF · 0.02B shares · net debt -$70M
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.
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 data unavailable. 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 + $2M buybacks = $2M returned on $10M 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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -6%. 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.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2024 (no longer broken out).
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.
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 | $111.0M 100.0% | $113.8M 100.0% | $132.4M 100.0% | $138.8M 100.0% | $133.9M 100.0% | $158.7M 100.0% | $157.9M 100.0% | $153.0M 100.0% | $160.1M 100.0% | $176.1M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | — | $37.5M 23.4% | $46.3M 26.3% |
| Cost of Products | — | — | — | — | — | — | — | — | $37.5M 23.4% | $46.3M 26.3% |
| Cost of Services | — | — | — | — | — | — | — | — | $52.7M 32.9% | $53.0M 30.1% |
| Research & Development | $3.5M 3.1% | $8.4M 7.4% | $9.4M 7.1% | $10.4M 7.5% | $11.1M 8.3% | $15.8M 10.0% | $15.9M 10.1% | $15.0M 9.8% | $15.9M 9.9% | $16.0M 9.1% |
| Selling, General & Admin | $15.3M 13.8% | $16.5M 14.5% | $18.9M 14.3% | $24.7M 17.8% | $28.8M 21.5% | $24.4M 15.4% | $25.5M 16.1% | $23.2M 15.2% | $28.9M 18.1% | $28.2M 16.0% |
| Total Operating Expenses | $122.2M 110.1% | $125.7M 110.4% | $149.7M 113.1% | $144.5M 104.1% | $153.5M 114.6% | $181.7M 114.5% | $179.0M 113.4% | $163.7M 107.0% | $168.9M 105.5% | $177.4M 100.8% |
| Operating Income | -$11.2M -10.1% | -$11.9M -10.4% | -$17.3M -13.1% | -$5.7M -4.1% | -$19.6M -14.6% | -$22.9M -14.5% | -$21.1M -13.4% | -$10.6M -7.0% | -$8.8M -5.5% | -$1.3M -0.8% |
| Interest Expense | $0 0.0% | $2K 0.0% | $1K 0.0% | $3K 0.0% | $56K 0.0% | $18K 0.0% | $1.0M 0.6% | $1.8M 1.2% | $1.5M 0.9% | $1.4M 0.8% |
| Interest & Investment Income | $2.6M 2.3% | $3.0M 2.7% | $3.6M 2.8% | $1.5M 1.1% | $886K 0.7% | $996K 0.6% | $2.0M 1.3% | $622K 0.4% | $659K 0.4% | $513K 0.3% |
| Other Income (Expense), net | $1.1M 1.0% | -$1.8M -1.6% | -$1.4M -1.1% | $772K 0.6% | $7.1M 5.3% | $193K 0.1% | $101K 0.1% | $710K 0.5% | -$366K -0.2% | $275K 0.2% |
| Pretax Income | -$7.5M -6.8% | -$10.6M -9.3% | -$15.1M -11.4% | -$3.4M -2.5% | -$11.7M -8.7% | -$21.8M -13.7% | -$20.0M -12.7% | -$11.1M -7.3% | -$9.9M -6.2% | -$2.0M -1.1% |
| Income Tax Expense | -$131K -0.1% | $421K 0.4% | $318K 0.2% | $546K 0.4% | -$108K -0.1% | $174K 0.1% | -$4.0M -2.5% | $346K 0.2% | $1.1M 0.7% | $5.5M 3.1% |
| Net Income | -$7.4M -6.7% | -$11.0M -9.7% | -$15.4M -11.6% | $24.0M 17.3% | -$9.8M -7.3% | -$21.9M -13.8% | $33.3M 21.1% | -$8.2M -5.4% | -$11.0M -6.9% | -$7.5M -4.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.38 | $-0.57 | $-0.81 | $1.29 | $-0.54 | $-1.24 | — | — | $-0.67 | $-0.47 |
| EPS (Diluted) | $-0.38 | $-0.57 | $-0.81 | $1.29 | $-0.54 | $-1.24 | — | $-0.48 | $-0.67 | $-0.47 |
| Weighted Avg Shares (Basic) | 19.4M | 19.4M | 19.1M | 19.1M | 18.2M | 17.7M | 17.5M | 17.1M | 16.4M | 15.8M |
| Weighted Avg Shares (Diluted) | 19.4M | 19.4M | 19.1M | 19.1M | 18.2M | 17.7M | 17.5M | 17.1M | 16.4M | 15.8M |
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.
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 32th 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 2.4× 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 | 9.8 | 10.1 | 10.0 | 8.3 | 7.5 | 7.1 | 7.4 | 3.1 |
| SG&A | 15.2 | 16.1 | 15.4 | 21.5 | 17.8 | 14.3 | 14.5 | 13.8 |
| Operating Income | -7.0 | -13.4 | -14.5 | -14.6 | -4.1 | -13.1 | -10.4 | -10.1 |
| Income Tax | 0.2 | -2.5 | 0.1 | -0.1 | 0.4 | 0.2 | 0.4 | -0.1 |
| Net Income | -5.4 | 21.1 | -13.8 | -7.3 | 17.3 | -11.6 | -9.7 | -6.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on KVHI: 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 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 | $10.83T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.20T | 43.6× | 39.0× | 24.1× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.91T | 44.6× | 34.3× | 11.8× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.64T | 27.3× | 19.3× | 11.0× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.61T | 71.2× | 63.6× | 25.2× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.04T | 122.1× | 57.5× | 27.8× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $835.4B | 193.4× | 197.6× | 24.1× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $504.6B | — | 62.9× | 9.6× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $426.7B | 42.3× | 35.8× | 7.5× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $416.9B | 276.7× | 288.5× | 93.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $367.3B | 64.9× | 34.6× | 3.2× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.6B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $329.4B | 48.0× | 37.9× | 11.6× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $325.1B | — | — | 1051.3× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $283.0B | — | — | — | — | — | — | — | — | — | 302 |
| SAP | $261.9B | — | — | — | — | — | — | — | — | — | 794 |
| ARM | $259.6B | 287.0× | 223.6× | 52.8× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| PANW | $250.9B | 234.8× | 156.8× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| ANET | $248.2B | 71.8× | 62.7× | 27.6× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| TXN | $236.9B | 47.8× | 31.2× | 13.4× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $232.8B | 32.1× | 25.2× | 5.6× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.5B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| SNDK | $221.9B | — | — | 30.2× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| QCOM | $198.5B | 36.9× | 14.9× | 4.5× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| MRVL | $194.6B | 74.8× | 127.2× | 23.8× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| KVHI | $138M | — | — | 1.2× | -2.5% | — | -6.7% | -5.6% | -5.6% | — | 67 |
Peers = companies sharing KVHI'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.