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Institutional ownership roughly stable: +0.23% 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 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
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $0.38 today, the market must believe free cash flow compounds 43.2%/yr for a decade (off $6M normalized FCF).
2-stage DCF · 0.07B shares · net debt $1.4B
mean -152.5% · volatility σ 649% · implied rate exceeded in 2/7 yrs
Central path = implied 43.2%/yr growth; shaded band = ±1σ (649%) 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.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 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).
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.
Free-cash-flow coverage unavailable. Last year: $10M dividends + $0 buybacks = $10M returned on -$80M 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: -30%. 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 $187M covers the $0 due within a year 186805000.0× 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).
Thin coverage — earnings barely cover interest. Effective rate ~7.1% on $1.6B of debt.
Cash of $187M fully covers short-term debt of $14M.
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 | $1.87B 100.0% | $2.04B 100.0% | $1.99B 100.0% | $2.28B 100.0% | $1.80B 100.0% | $1.42B 100.0% | $1.62B 100.0% | $1.46B 100.0% | $1.17B 100.0% | $931.6M 100.0% |
| Cost of Products | — | — | — | — | — | — | — | $1.03B 70.8% | $866.0M 74.1% | $700.5M 75.2% |
| Selling, General & Admin | $114.4M 6.1% | $116.4M 5.7% | $123.2M 6.2% | $105.8M 4.6% | $78.9M 4.4% | $66.9M 4.7% | $74.2M 4.6% | $61.5M 4.2% | $49.7M 4.2% | $44.5M 4.8% |
| Operating Income | -$397.7M -21.3% | $15.0M 0.7% | -$188.8M -9.5% | $392.4M 17.2% | $346.6M 19.2% | $63.7M 4.5% | $84.0M 5.2% | $267.9M 18.4% | $168.6M 14.4% | $115.1M 12.4% |
| Interest Expense | $114.8M 6.1% | $109.2M 5.3% | $88.2M 4.4% | $71.5M 3.1% | $70.0M 3.9% | $80.7M 5.7% | $75.8M 4.7% | $51.5M 3.5% | $54.8M 4.7% | $51.6M 5.5% |
| Other Income (Expense), net | -$113.5M -6.1% | -$101.9M -5.0% | -$81.0M -4.1% | -$47.1M -2.1% | -$86.0M -4.8% | -$74.9M -5.3% | -$74.4M -4.6% | -$90.6M -6.2% | -$64.6M -5.5% | -$55.7M -6.0% |
| Pretax Income | -$511.2M -27.4% | -$86.9M -4.3% | -$269.8M -13.5% | $345.3M 15.1% | $260.6M 14.4% | -$11.1M -0.8% | $9.6M 0.6% | $177.3M 12.2% | $103.9M 8.9% | $59.5M 6.4% |
| Income Tax Expense | -$13.3M -0.7% | -$1.8M -0.1% | -$27.8M -1.4% | $98.3M 4.3% | $89.6M 5.0% | $6.1M 0.4% | $19.2M 1.2% | $48.7M 3.3% | $33.5M 2.9% | $24.5M 2.6% |
| Net Income | -$498K -0.0% | -$85K -0.0% | -$242K -0.0% | $247K 0.0% | $171K 0.0% | -$17.2M -1.2% | -$9.6M -0.6% | $128.6M 8.8% | $70.5M 6.0% | $34.9M 3.8% |
| Per Share | ||||||||||
| EPS (Basic) | $-7.44 | $-1.27 | $-3.65 | $3.74 | $2.59 | $-0.26 | $-0.15 | $1.97 | $1.09 | $0.54 |
| EPS (Diluted) | $-7.44 | $-1.27 | $-3.65 | $3.71 | $2.58 | $-0.26 | $-0.15 | $1.96 | $1.08 | $0.54 |
| Weighted Avg Shares (Basic) | 66.9M | 66.8M | 66.4M | 66.1M | 65.9M | 65.8M | 65.6M | 65.1M | 64.9M | 64.6M |
| Weighted Avg Shares (Diluted) | 66.9M | 66.8M | 66.4M | 66.6M | 66.3M | 65.8M | 65.6M | 65.8M | 65.4M | 65.1M |
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 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 238 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BHP | $439.4B | — | — | — | — | — | — | — | — | — | 713 |
| LIN | $215.3B | 31.4× | 19.3× | 6.3× | 3.0% | — | 20.3% | 18.0% | 10.9% | 2.1× | 2,148 |
| SCCO | $162.1B | 37.4× | 20.9× | 12.1× | 17.4% | 60.1% | 32.4% | 39.4% | 24.4% | 0.9× | 791 |
| CX | $147.8B | — | — | — | — | — | — | — | — | — | 297 |
| TX | $116.5B | — | — | — | — | — | — | — | — | — | 139 |
| FCX | $101.8B | — | 12.3× | 3.9× | 1.8% | 28.2% | 16.0% | 22.0% | 14.7% | 1.1× | 1,775 |
| AEM | $100.7B | — | — | — | — | — | — | — | — | — | 1,066 |
| SHW | $79.5B | 31.3× | — | 3.4× | 2.1% | 48.8% | 10.9% | 55.9% | 17.0% | — | 1,610 |
| ECL | $76.6B | 37.3× | 22.5× | 4.8× | 2.2% | 44.5% | 12.9% | 21.2% | 19.5% | 0.3× | 1,619 |
| B | $73.2B | — | — | — | — | — | — | — | — | — | 979 |
| WPM | $69.1B | — | — | — | — | — | — | — | — | — | 809 |
| APD | $63.7B | — | 90.0× | 5.3× | -0.5% | 31.4% | -3.3% | -2.6% | -2.6% | 0.1× | 1,702 |
| VALE | $61.6B | — | — | — | — | — | — | — | — | — | 537 |
| NUE | $61.2B | 35.3× | — | 1.9× | 5.7% | 11.9% | 5.4% | 8.3% | 8.3% | — | 1,325 |
| CRH | $58.0B | 15.7× | 9.3× | 1.6× | 5.3% | 36.1% | 10.0% | 15.6% | 9.2% | 2.2× | 9 |
| MT | $57.2B | — | — | — | — | — | — | — | — | — | 286 |
| DD | $53.6B | — | — | 7.8× | 1.9% | 34.5% | -11.4% | -5.6% | -5.6% | — | 1,172 |
| AU | $51.7B | — | — | — | — | — | — | — | — | — | 537 |
| FNV | $51.4B | — | — | — | — | — | — | — | — | — | 614 |
| NTR | $37.7B | — | — | — | — | — | — | — | — | — | 718 |
| STLD | $35.6B | 30.7× | 19.2× | 2.0× | 3.6% | 13.2% | 6.5% | 13.2% | 9.0% | 2.1× | 893 |
| KGC | $34.2B | — | — | — | — | — | — | — | — | — | 630 |
| VMC | $31.9B | 30.1× | 15.3× | 4.0× | 7.1% | 27.4% | 13.6% | 12.6% | 8.4% | 1.8× | 981 |
| MLM | $29.8B | 26.3× | 16.9× | 4.8× | 8.6% | 30.7% | 18.5% | 11.3% | 7.4% | 2.6× | 1,022 |
| PPG | $23.6B | 15.2× | — | 1.5× | 0.2% | 41.3% | 9.9% | 19.8% | 10.3% | — | 1,003 |
| MERC | $25M | — | — | 0.0× | -8.6% | — | -26.7% | -732% | -29.5% | -6.8× | 76 |
Peers = companies sharing MERC's sector (Basic Materials) 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
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 0th 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 320.6× 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 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 4.2 | 4.6 | 4.7 | 4.4 | 4.6 | 6.2 | 5.7 | 6.1 |
| Operating Income | 18.4 | 5.2 | 4.5 | 19.2 | 17.2 | -9.5 | 0.7 | -21.3 |
| Income Tax | 3.3 | 1.2 | 0.4 | 5.0 | 4.3 | -1.4 | -0.1 | -0.7 |
| Net Income | 8.8 | -0.6 | -1.2 | 0.0 | 0.0 | -0.0 | -0.0 | -0.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MERC: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.