Loading institutional data...
Loading institutional data...
Institutional accumulation: ownership increased +1.74% quarter-over-quarter.
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 $10.57 today, the market must believe free cash flow compounds 4.7%/yr for a decade (off $44M normalized FCF).
The market's 4.7% is more conservative than its 7-yr track record.
2-stage DCF · 0.06B shares · net debt $107M
mean 32.7% · volatility σ 72% · implied rate exceeded in 3/7 yrs
Central path = implied 4.7%/yr growth; shaded band = ±1σ (72%) 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.
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising 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 $65M 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 8 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 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 $47M covers the $10M due within a year 4.9× over. Scheduled principal only (excludes interest & revolver draws). As of 2021-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~7.3% on $153M of debt.
Cash of $47M fully covers short-term debt of $22M.
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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.11B 100.0% | $864.7M 100.0% | $388.1M 100.0% | $459.1M 100.0% | $645.3M 100.0% | $584.8M 100.0% | $408.0M 100.0% | $296.9M 100.0% |
| Cost of Revenue | $946.1M 85.0% | $721.1M 83.4% | $321.4M 82.8% | $389.0M 84.7% | $543.8M 84.3% | $499.4M 85.4% | $342.9M 84.0% | $247.7M 83.4% |
| Research & Development | $21.4M 1.9% | $19.8M 2.3% | $18.5M 4.8% | $21.1M 4.6% | $15.2M 2.4% | $12.4M 2.1% | $7.0M 1.7% | $10.3M 3.5% |
| Selling, General & Admin | $89.6M 8.0% | $56.4M 6.5% | $62.7M 16.2% | $55.6M 12.1% | $61.4M 9.5% | $32.9M 5.6% | $19.4M 4.8% | $7.8M 2.6% |
| Total Operating Expenses | $1.09B 98.0% | $822.0M 95.1% | $428.1M 110.3% | $494.5M 107.7% | $643.1M 99.7% | $565.3M 96.7% | $383.2M 93.9% | $277.6M 93.5% |
| Operating Income | $22.1M 2.0% | $42.7M 4.9% | -$39.9M -10.3% | -$35.4M -7.7% | $2.1M 0.3% | $19.5M 3.3% | $24.8M 6.1% | $19.3M 6.5% |
| Interest Expense | $11.2M 1.0% | $14.4M 1.7% | $15.3M 3.9% | $9.2M 2.0% | $7.8M 1.2% | $7.9M 1.4% | $7.0M 1.7% | $1.2M 0.4% |
| Other Income (Expense), net | -$133.2M -12.0% | -$19.2M -2.2% | -$17.1M -4.4% | $65.8M 14.3% | -$11.7M -1.8% | -$10.2M -1.8% | -$7.0M -1.7% | -$1.2M -0.4% |
| Pretax Income | -$111.1M -10.0% | $23.5M 2.7% | -$57.0M -14.7% | $30.5M 6.6% | -$9.5M -1.5% | $9.3M 1.6% | $17.8M 4.4% | $18.1M 6.1% |
| Income Tax Expense | -$137.8M -12.4% | $1.4M 0.2% | -$463K -0.1% | $102.9M 22.4% | -$1.0M -0.2% | -$1.3M -0.2% | $0 0.0% | — |
| Net Income | $25.6M 2.3% | $16.6M 1.9% | -$40.4M -10.4% | -$57.7M -12.6% | -$5.3M -0.8% | -$4.4M -0.7% | $17.8M 4.4% | $18.1M 6.1% |
| Per Share | ||||||||
| EPS (Basic) | $0.46 | $0.31 | $-0.89 | $-1.37 | $-0.14 | $-0.14 | — | — |
| EPS (Diluted) | $0.39 | $0.31 | $-0.89 | $-1.37 | $-0.19 | $-0.14 | — | — |
| Weighted Avg Shares (Basic) | 56.2M | 53.0M | 45.6M | 41.9M | 37.3M | 32.1M | — | — |
| Weighted Avg Shares (Diluted) | 66.8M | 53.0M | 45.6M | 41.9M | 61.3M | 32.1M | — | — |
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
Ranked against 192 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.15T | 31.8× | 27.8× | 10.3× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.72T | 29.1× | 17.1× | 8.6× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.40T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $354.7B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $318.0B | 29.8× | 23.7× | 7.0× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $204.2B | 11.9× | 4.2× | 1.5× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $200.2B | 15.4× | 10.3× | 2.1× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $184.2B | 17.1× | 8.3× | 2.1× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $182.0B | 8.3× | 6.8× | 1.4× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.2B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $83.1B | 91.3× | 53.5× | 6.1× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $70.0B | 97.4× | 15.3× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| LYV | $39.6B | — | 25.1× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TTWO | $39.0B | — | 424.4× | 5.9× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| TWLO | $37.5B | 1172.6× | 107.1× | 7.4× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $28.5B | 58.3× | 60.1× | 12.9× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $26.9B | 11.9× | — | 1.6× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $24.6B | — | 57.5× | 1.4× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $22.8B | 261.1× | 530.2× | 4.8× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.5B | — | 39.5× | 4.8× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| NWS | $18.9B | 16.1× | — | 2.2× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| CHTR | $18.0B | 3.7× | 5.3× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| TKO | $15.3B | 83.8× | 13.8× | 3.2× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
| MAX | $595M | 27.1× | 31.3× | 0.5× | 28.8% | 15.0% | 2.3% | 616% | 16.3% | 6.9× | 155 |
Peers = companies sharing MAX's sector (Communication Services) 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.
EOD close · as of 2026-09-17
Where each multiple sits in its own 6-yr range · 12th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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
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 | 83.4 | 84.0 | 85.4 | 84.3 | 84.7 | 82.8 | 83.4 | 85.0 |
| R&D | 3.5 | 1.7 | 2.1 | 2.4 | 4.6 | 4.8 | 2.3 | 1.9 |
| SG&A | 2.6 | 4.8 | 5.6 | 9.5 | 12.1 | 16.2 | 6.5 | 8.0 |
| Operating Income | 6.5 | 6.1 | 3.3 | 0.3 | -7.7 | -10.3 | 4.9 | 2.0 |
| Income Tax | — | 0.0 | -0.2 | -0.2 | 22.4 | -0.1 | 0.2 | -12.4 |
| Net Income | 6.1 | 4.4 | -0.7 | -0.8 | -12.6 | -10.4 | 1.9 | 2.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MAX: 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.