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Held by 1,081 of 5,944 reporting institutions (99th percentile) — extremely crowded.
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 $333.94 today, the market must believe free cash flow compounds 55.9%/yr for a decade (off $208M normalized FCF).
The market's 55.9% is more optimistic than its 2-yr track record.
2-stage DCF · 0.35B shares · net debt -$944M
mean 43.3% · volatility σ 5% · implied rate exceeded in 0/2 yrs
Central path = implied 55.9%/yr growth; shaded band = ±1σ (5%) 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.
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
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/8 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
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).
Interest coverage is thin — monitor.
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 $287M 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 9 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: -7%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
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.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.17B 100.0% | $1.67B 100.0% | $1.30B 100.0% | $975.2M 100.0% | $656.4M 100.0% | $431.1M 100.0% | $287.0M 100.0% | $192.7M 100.0% | $134.9M 100.0% |
| Cost of Revenue | $552.5M 25.5% | $378.7M 22.7% | $307.0M 23.7% | $232.6M 23.9% | $147.1M 22.4% | $101.1M 23.4% | $63.4M 22.1% | $43.5M 22.6% | $28.8M 21.3% |
| Gross Profit | $1.62B 74.5% | $1.29B 77.3% | $989.7M 76.3% | $742.6M 76.1% | $509.3M 77.6% | $330.0M 76.6% | $223.6M 77.9% | $149.1M 77.4% | $106.1M 78.7% |
| Research & Development | $512.5M 23.6% | $421.4M 25.2% | $358.1M 27.6% | $298.3M 30.6% | $189.4M 28.9% | $127.1M 29.5% | $90.7M 31.6% | $54.5M 28.3% | $33.6M 24.9% |
| Selling, General & Admin | $389.3M 18.0% | $278.5M 16.7% | $218.0M 16.8% | $179.8M 18.4% | $119.5M 18.2% | $91.8M 21.3% | $81.6M 28.4% | $85.2M 44.2% | $20.3M 15.1% |
| Total Operating Expenses | $1.82B 84.1% | $1.45B 86.6% | $1.18B 90.6% | $943.8M 96.8% | $637.0M 97.0% | $436.8M 101.3% | $331.5M 115.5% | $234.0M 121.5% | $115.9M 85.9% |
| Operating Income | -$207.2M -9.6% | -$154.8M -9.3% | -$185.5M -14.3% | -$201.2M -20.6% | -$127.7M -19.5% | -$106.8M -24.8% | -$107.9M -37.6% | -$84.9M -44.1% | -$9.7M -7.2% |
| Interest Expense | $8.8M 0.4% | $5.2M 0.3% | $5.9M 0.5% | $5.0M 0.5% | $49.2M 7.5% | $25.0M 5.8% | $1.1M 0.4% | $992K 0.5% | $862K 0.6% |
| Other Income (Expense), net | $114.5M 5.3% | $83.9M 5.0% | $7.6M 0.6% | $10.5M 1.1% | -$120.3M -18.3% | -$18.2M -4.2% | $3.2M 1.1% | -$1.2M -0.6% | $15K 0.0% |
| Pretax Income | -$92.7M -4.3% | -$70.9M -4.2% | -$177.9M -13.7% | -$190.7M -19.6% | -$248.0M -37.8% | -$125.0M -29.0% | -$104.7M -36.5% | -$86.1M -44.7% | -$9.7M -7.2% |
| Income Tax Expense | $9.6M 0.4% | $7.9M 0.5% | $6.1M 0.5% | $2.6M 0.3% | $12.3M 1.9% | -$5.6M -1.3% | $1.1M 0.4% | $1.1M 0.6% | $1.0M 0.8% |
| Net Income | -$102.3M -4.7% | -$78.8M -4.7% | -$183.9M -14.2% | -$193.4M -19.8% | -$260.3M -39.7% | -$119.4M -27.7% | -$105.8M -36.9% | -$87.2M -45.2% | -$10.7M -8.0% |
| Per Share | |||||||||
| EPS (Basic) | $-0.29 | $-0.23 | $-0.55 | $-0.59 | $-0.83 | $-0.40 | $-0.72 | — | — |
| EPS (Diluted) | $-0.29 | $-0.23 | $-0.55 | $-0.59 | $-0.83 | $-0.40 | $-0.72 | — | — |
| Weighted Avg Shares (Basic) | 348.4M | 341.4M | 333.7M | 326.3M | 312.3M | 299.8M | 146.3M | — | — |
| Weighted Avg Shares (Diluted) | 348.4M | 341.4M | 333.7M | 326.3M | 312.3M | 299.8M | 146.3M | — | — |
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.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 7-yr range · 93th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 22.6 | 22.1 | 23.4 | 22.4 | 23.9 | 23.7 | 22.7 | 25.5 |
| Gross Profit | 77.4 | 77.9 | 76.6 | 77.6 | 76.1 | 76.3 | 77.3 | 74.5 |
| R&D | 28.3 | 31.6 | 29.5 | 28.9 | 30.6 | 27.6 | 25.2 | 23.6 |
| SG&A | 44.2 | 28.4 | 21.3 | 18.2 | 18.4 | 16.8 | 16.7 | 18.0 |
| Operating Income | -44.1 | -37.6 | -24.8 | -19.5 | -20.6 | -14.3 | -9.3 | -9.6 |
| Income Tax | 0.6 | 0.4 | -1.3 | 1.9 | 0.3 | 0.5 | 0.5 | 0.4 |
| Net Income | -45.2 | -36.9 | -27.7 | -39.7 | -19.8 | -14.2 | -4.7 | -4.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NET: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 | $11.16T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.33T | 44.8× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.98T | 45.2× | 34.8× | 12.0× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.70T | 27.7× | 19.6× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.65T | 72.8× | 65.1× | 25.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.10T | 128.8× | 60.7× | 29.3× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $888.5B | 205.7× | 210.2× | 25.6× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $543.3B | — | 67.4× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $436.6B | 43.2× | 36.6× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $421.4B | 279.8× | 291.6× | 94.2× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $383.6B | 67.8× | 36.1× | 3.4× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $341.7B | 64.9× | 54.5× | 18.5× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| RPAY | $338.0B | — | — | 1092.8× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| AMAT | $331.0B | 48.2× | 38.1× | 11.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| UMC | $307.4B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $281.9B | 311.6× | 242.9× | 57.3× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SAP | $262.5B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.7B | 72.6× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $250.5B | 234.4× | 156.5× | 27.2× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SNDK | $235.7B | — | — | 32.0× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| TXN | $234.6B | 47.4× | 30.9× | 13.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $225.6B | 31.1× | 24.4× | 5.4× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $222.8B | 21.3× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $204.0B | 78.4× | 133.3× | 24.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $202.7B | 37.7× | 15.2× | 4.6× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| NET | $116.4B | — | — | 53.7× | 29.8% | 74.5% | -4.7% | -7.0% | -7.0% | — | 1,081 |
Peers = companies sharing NET'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.
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.