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Institutional ownership roughly stable: +0.29% change quarter-over-quarter.
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.
Top 9 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
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $2.10 today, the market must believe free cash flow compounds -1.7%/yr for a decade (off $2M normalized FCF).
2-stage DCF · 0.01B shares · net debt -$885000
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.
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 | $43.0M 100.0% | $5.2M 100.0% | $6.0M 100.0% | $7.1M 100.0% | $4.7M 100.0% | $6.1M 100.0% | $5.9M 100.0% | $7.5M 100.0% | $9.2M 100.0% | $10.1M 100.0% |
| Cost of Revenue | $40.6M 94.3% | $4.1M 79.7% | $5.0M 83.2% | $5.7M 80.2% | $3.7M 78.2% | $4.5M 73.8% | $5.5M 92.3% | $7.9M 105.8% | $9.1M 99.1% | $15.1M 148.7% |
| Gross Profit | $2.4M 5.6% | $1.1M 21.2% | $1.0M 16.8% | $1.4M 19.9% | $1.0M 21.1% | $1.6M 26.4% | $452K 7.7% | -$435K -5.8% | $82K 0.9% | -$4.9M -48.3% |
| Research & Development | $1.2M 2.7% | $1.2M 22.4% | $1.4M 22.6% | $1.5M 21.0% | $1.6M 34.3% | $1.5M 25.3% | $1.6M 27.3% | $957K 12.8% | $851K 9.2% | $2.0M 20.0% |
| Selling, General & Admin | $2.9M 6.7% | $2.9M 55.8% | $3.1M 51.1% | $3.3M 46.9% | $3.6M 76.3% | $2.8M 46.3% | $2.8M 47.3% | $3.2M 42.5% | $3.7M 40.2% | $4.8M 47.0% |
| Total Operating Expenses | $4.0M 9.4% | $4.0M 77.2% | $4.4M 73.8% | $4.6M 65.2% | $5.0M 104.6% | $3.7M 60.6% | $4.1M 69.8% | $3.2M 43.2% | $4.4M 47.9% | $15.7M 154.5% |
| Operating Income | -$1.6M -3.7% | -$2.9M -56.0% | -$3.4M -56.9% | -$3.2M -45.4% | -$3.9M -82.4% | -$2.1M -34.6% | -$3.7M -62.7% | -$3.7M -49.4% | -$4.3M -46.7% | -$20.6M -203.2% |
| Other Income (Expense), net | $465K 1.1% | $918K 17.7% | $714K 11.9% | $474K 6.7% | $1.1M 22.4% | $1.5M 25.4% | $100K 1.7% | $693K 9.2% | $224K 2.4% | -$699K -6.9% |
| Pretax Income | -$1.1M -2.6% | -$2.0M -39.2% | -$2.7M -45.0% | -$2.7M -38.7% | -$2.9M -60.3% | -$547K -9.0% | -$3.6M -60.4% | -$3.0M -39.8% | -$4.1M -44.5% | -$21.3M -210.1% |
| Net Income | -$1.1M -2.6% | -$2.0M -39.3% | -$2.7M -45.0% | -$2.7M -38.9% | -$2.9M -60.2% | -$544K -9.0% | -$3.6M -60.4% | -$3.0M -39.8% | -$4.1M -44.4% | -$21.3M -209.8% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.15 | $-0.32 | $-0.55 | $-0.61 | $-0.68 | — | — | — | — | — |
| EPS (Diluted) | $-0.15 | $-0.32 | $-0.55 | $-0.61 | $-0.68 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 7.7M | 6.3M | 4.9M | 4.5M | 4.2M | — | — | — | — | — |
| Weighted Avg Shares (Diluted) | 7.7M | 6.3M | 4.9M | 4.5M | 4.2M | — | — | — | — | — |
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.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable; 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $2M 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: -25%. 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 $3M is below the $5M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2022-08-31 (10-K).
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 of $3M fully covers short-term debt of $1M.
Mostly short-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
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 | 105.8 | 92.3 | 73.8 | 78.2 | 80.2 | 83.2 | 79.7 | 94.3 |
| Gross Profit | -5.8 | 7.7 | 26.4 | 21.1 | 19.9 | 16.8 | 21.2 | 5.6 |
| R&D | 12.8 | 27.3 | 25.3 | 34.3 | 21.0 | 22.6 | 22.4 | 2.7 |
| SG&A | 42.5 | 47.3 | 46.3 | 76.3 | 46.9 | 51.1 | 55.8 | 6.7 |
| Operating Income | -49.4 | -62.7 | -34.6 | -82.4 | -45.4 | -56.9 | -56.0 | -3.7 |
| Net Income | -39.8 | -60.4 | -9.0 | -60.2 | -38.9 | -45.0 | -39.3 | -2.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LEDS: 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 |
| LEDS | $18M | — | — | 0.4× | 730% | 5.6% | -2.6% | -40.6% | -25.2% | -1.9× | 9 |
Peers = companies sharing LEDS'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.