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Institutional ownership roughly stable: -0.40% 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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $37.47 today, the market must believe free cash flow compounds 22.2%/yr for a decade (off $6M normalized FCF).
The market's 22.2% is more optimistic than its 9-yr track record.
2-stage DCF · 0.01B shares · net debt $51M
mean -117.2% · volatility σ 168% · implied rate exceeded in 1/7 yrs
Central path = implied 22.2%/yr growth; shaded band = ±1σ (168%) 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.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | $682.3B | 24.4× | — | 2.0× | -5.0% | — | 8.7% | 11.1% | 10.7% | — | 4,568 |
| SHEL | $545.2B | — | — | — | — | — | — | — | — | — | 1,521 |
| CVX | $391.2B | 31.9× | — | 2.1× | -6.8% | 42.8% | 6.5% | 6.6% | 6.6% | — | 4,121 |
| TTE | $202.1B | — | — | — | — | — | — | — | — | — | 951 |
| COP | $166.8B | 21.0× | — | 2.8× | 7.7% | 62.1% | 13.6% | 12.4% | 12.2% | — | 2,450 |
| PBR | $155.8B | — | — | — | — | — | — | — | — | — | 524 |
| MPC | $128.7B | 31.9× | 11.0× | 1.0× | -4.4% | 10.0% | 3.0% | 23.4% | 20.6% | 0.2× | 1,802 |
| VLO | $127.5B | 54.5× | 24.1× | 1.0× | -5.5% | 4.4% | 1.9% | 9.9% | 7.1% | 1.7× | 1,781 |
| BP | $117.0B | — | — | — | — | — | — | — | — | — | 1,220 |
| PSX | $111.3B | 25.4× | — | 0.8× | -7.5% | 12.3% | 3.3% | 15.1% | 14.6% | — | 2,041 |
| EQNR | $110.8B | — | — | — | — | — | — | — | — | — | 398 |
| WMB | $87.7B | 33.6× | 17.8× | 7.3× | 13.8% | — | 21.9% | 20.4% | 6.3% | 4.4× | 1,736 |
| EPD | $84.1B | — | 12.6× | 1.6× | -6.4% | 26.7% | 11.0% | — | — | 3.7× | 1,573 |
| EOG | $79.0B | 15.9× | 7.7× | 3.5× | -4.5% | — | 22.0% | 16.7% | 13.2% | 0.7× | 1,525 |
| SLB | $77.9B | 22.2× | — | 2.2× | -1.6% | — | 9.4% | 12.9% | 9.4% | — | 1,624 |
| ET | $72.5B | — | 9.8× | 0.8× | 3.5% | 25.8% | 5.2% | 9.0% | 3.8% | 4.8× | 1,244 |
| KMI | $69.7B | 22.9× | 14.2× | 4.1× | 12.2% | — | 18.0% | 9.8% | 4.8% | 4.5× | 1,745 |
| TRGP | $61.2B | 33.6× | 16.2× | 3.6× | 3.9% | 38.3% | 11.3% | 62.7% | 9.4% | 3.6× | 979 |
| TS | $60.6B | — | — | — | — | — | — | — | — | — | 248 |
| MPLX | $59.4B | — | — | 4.6× | 8.9% | — | 38.1% | — | — | — | 622 |
| LNG | $59.3B | 11.2× | 7.8× | 3.0× | 27.2% | — | 26.7% | 67.3% | 17.3% | 2.2× | 1,303 |
| OKE | $58.7B | 17.2× | 12.4× | 1.8× | 55.0% | 30.5% | 10.1% | 15.1% | 6.3% | 4.4× | 1,622 |
| OXY | $58.5B | 36.8× | — | 2.7× | -1.9% | — | 11.0% | 6.6% | 4.2% | — | 1,250 |
| BKR | $56.2B | — | — | 2.0× | -0.3% | — | 9.3% | 13.7% | 13.3% | — | 1,095 |
| FANG | $56.0B | 34.4× | 11.2× | 3.7× | 35.8% | — | 11.1% | 4.5% | 3.2% | 2.3× | 1,141 |
| NC | $278M | 15.9× | 7.0× | 1.0× | 16.6% | 13.9% | 6.3% | 4.1% | 3.3% | 2.1× | 90 |
Peers = companies sharing NC's sector (Energy) 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.
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.
Cash conversion lags reported earnings — watch accruals. 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.
The dividend exceeds free cash flow (321%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $7M dividends + $3M buybacks = $10M returned on $2M FCF.
7 consecutive years of dividend increases · -1%/yr.
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.
Modest payoff on reinvested capital. Current ROIC on all capital: 3%. 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 $50M covers the $9M due within a year 5.5× 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).
Coverage is adequate but not comfortable. Effective rate ~5.7% on $101M of debt.
Cash vs short-term debt unavailable.
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
No standout strengths flagged.
No material risks flagged.
Where each multiple sits in its own 14-yr range · 65th 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
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 | 77.9 | 77.9 | 86.8 | 77.4 | 71.9 | 93.2 | 87.5 | 86.1 |
| Gross Profit | 22.1 | 22.1 | 13.2 | 22.6 | 28.1 | 6.8 | 12.5 | 13.9 |
| SG&A | 36.3 | 38.1 | 41.3 | 29.0 | 26.4 | 30.5 | 29.3 | 28.1 |
| Operating Income | 32.2 | 27.5 | 10.5 | 28.9 | 29.0 | -32.7 | 15.0 | 7.9 |
| Income Tax | 5.5 | 2.7 | -0.4 | 4.5 | 5.6 | -11.4 | -0.0 | -1.6 |
| Net Income | 25.7 | 28.1 | 11.5 | 25.1 | 30.7 | -18.4 | 14.2 | 6.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NC: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 | $277.2M 100.0% | $237.7M 100.0% | $214.8M 100.0% | $241.7M 100.0% | $191.8M 100.0% | $128.4M 100.0% | $141.0M 100.0% | $135.4M 100.0% | $104.8M 100.0% | $111.1M 100.0% |
| Cost of Revenue | $238.7M 86.1% | $208.0M 87.5% | $200.2M 93.2% | $173.9M 71.9% | $148.4M 77.4% | $111.5M 86.8% | $109.9M 77.9% | $105.4M 77.9% | $87.9M 83.9% | $99.0M 89.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $87.9M 83.9% | $99.0M 89.1% |
| Gross Profit | $38.5M 13.9% | $29.8M 12.5% | $14.6M 6.8% | $67.8M 28.1% | $43.5M 22.6% | $17.0M 13.2% | $31.1M 22.1% | $30.0M 22.1% | $16.9M 16.1% | $12.1M 10.9% |
| Research & Development | — | — | — | — | — | — | — | — | — | $9.7M 8.7% |
| Selling, General & Admin | $77.9M 28.1% | $69.8M 29.3% | $65.6M 30.5% | $63.9M 26.4% | $55.7M 29.0% | $53.1M 41.3% | $53.8M 38.1% | $49.2M 36.3% | $47.5M 45.3% | $48.9M 44.0% |
| Total Operating Expenses | — | — | $134.7M 62.7% | $69.1M 28.6% | $59.2M 30.9% | $63.7M 49.6% | $56.2M 39.9% | $51.3M 37.9% | $45.5M 43.4% | $69.0M 62.1% |
| Operating Income | $22.0M 7.9% | $35.7M 15.0% | -$70.1M -32.7% | $70.0M 29.0% | $55.4M 28.9% | $13.4M 10.5% | $38.8M 27.5% | $43.6M 32.2% | $32.8M 31.3% | -$1.7M -1.5% |
| Interest Expense | $5.8M 2.1% | $5.6M 2.3% | $2.5M 1.1% | $2.0M 0.8% | $1.7M 0.9% | $1.4M 1.1% | $872K 0.6% | $2.0M 1.5% | $3.4M 3.3% | $4.3M 3.9% |
| Interest & Investment Income | — | — | — | — | — | — | — | — | — | $196K 0.2% |
| Other Income (Expense), net | -$8.8M -3.2% | -$2.1M -0.9% | $6.0M 2.8% | $17.7M 7.3% | $1.4M 0.8% | $810K 0.6% | $4.6M 3.2% | -$1.5M -1.1% | -$3.7M -3.5% | -$5.0M -4.5% |
| Pretax Income | $13.1M 4.7% | $33.6M 14.2% | -$64.2M -29.9% | $87.7M 36.3% | $56.9M 29.6% | $14.3M 11.1% | $43.4M 30.8% | $42.2M 31.1% | $29.1M 27.8% | $34.5M 31.0% |
| Income Tax Expense | -$4.4M -1.6% | -$95K -0.0% | -$24.6M -11.4% | $13.6M 5.6% | $8.7M 4.5% | -$535K -0.4% | $3.8M 2.7% | $7.4M 5.5% | $639K 0.6% | -$9.6M -8.7% |
| Net Income | $17.6M 6.3% | $33.7M 14.2% | -$39.6M -18.4% | $74.2M 30.7% | $48.1M 25.1% | $14.8M 11.5% | $39.6M 28.1% | $34.8M 25.7% | $30.3M 29.0% | $29.6M 26.7% |
| Per Share | ||||||||||
| EPS (Basic) | $2.37 | $4.58 | $-5.29 | $10.14 | $6.73 | $2.11 | $5.68 | $5.02 | $4.44 | $4.34 |
| EPS (Diluted) | $2.35 | $4.55 | $-5.29 | $10.06 | $6.69 | $2.10 | $5.66 | $5.00 | $4.41 | $4.32 |
| Weighted Avg Shares (Basic) | 7.4M | 7.4M | 7.5M | 7.3M | 7.1M | 7.0M | 7.0M | 6.9M | 6.8M | 6.8M |
| Weighted Avg Shares (Diluted) | 7.5M | 7.4M | 7.5M | 7.4M | 7.2M | 7.1M | 7.0M | 7.0M | 6.9M | 6.9M |
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.
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