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Strong institutional accumulation: ownership increased +4.04% 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
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 | $172.3M 100.0% | $156.7M 100.0% | $121.2M 100.0% | $84.8M 100.0% | $72.4M 100.0% | $68.1M 100.0% | $78.4M 100.0% | $65.5M 100.0% | $67.7M 100.0% | $71.7M 100.0% |
| Selling, General & Admin | $22.4M 13.0% | $21.0M 13.4% | $16.9M 14.0% | $13.9M 16.4% | $10.8M 14.9% | $10.6M 15.5% | $10.7M 13.7% | $9.1M 13.9% | $10.1M 14.9% | $9.0M 12.6% |
| Total Operating Expenses | $135.0M 78.4% | $123.4M 78.7% | $110.7M 91.4% | $84.4M 99.5% | $84.8M 117.1% | $71.7M 105.3% | $93.6M 119.3% | $66.0M 100.8% | $66.2M 97.8% | $63.2M 88.2% |
| Operating Income | $37.3M 21.6% | $33.3M 21.3% | $10.5M 8.6% | $431K 0.5% | -$12.4M -17.1% | -$3.6M -5.3% | -$15.2M -19.3% | -$507K -0.8% | $1.5M 2.2% | $8.4M 11.8% |
| Interest Expense | $13.6M 7.9% | $11.9M 7.6% | $4.1M 3.4% | $364K 0.4% | $65K 0.1% | $14K 0.0% | $15K 0.0% | $69K 0.1% | $14K 0.0% | $8K 0.0% |
| Interest & Investment Income | $2.4M 1.4% | $0 0.0% | $0 0.0% | — | — | — | — | — | — | — |
| Other Income (Expense), net | -$10.8M -6.2% | -$11.7M -7.4% | -$3.8M -3.2% | -$472K -0.6% | $622K 0.9% | $615K 0.9% | $596K 0.8% | $113K 0.2% | $36K 0.1% | $35K 0.0% |
| Pretax Income | $26.5M 15.4% | $21.7M 13.8% | $6.6M 5.5% | -$41K -0.0% | -$11.8M -16.3% | -$3.0M -4.4% | -$14.6M -18.6% | -$394K -0.6% | $1.5M 2.2% | $8.5M 11.8% |
| Income Tax Expense | $6.6M 3.8% | $4.4M 2.8% | $1.9M 1.5% | $528K 0.6% | -$2.6M -3.6% | -$4.8M -7.0% | -$693K -0.9% | $72K 0.1% | -$18.3M -27.0% | $2.0M 2.8% |
| Net Income | $19.9M 11.6% | $17.2M 11.0% | $4.7M 3.9% | -$569K -0.7% | -$9.2M -12.7% | $1.8M 2.7% | -$13.9M -17.7% | -$466K -0.7% | $19.8M 29.2% | $6.5M 9.0% |
| Per Share | ||||||||||
| EPS (Basic) | $1.59 | $1.39 | $0.39 | $-0.05 | $-0.70 | $0.14 | $-1.06 | $-0.04 | $1.54 | $0.51 |
| EPS (Diluted) | $1.57 | $1.37 | $0.38 | $-0.05 | $-0.70 | $0.14 | $-1.06 | $-0.04 | $1.51 | $0.50 |
| Weighted Avg Shares (Basic) | 12.5M | 12.4M | 12.3M | 12.3M | 13.1M | 13.2M | 13.1M | 13.0M | 12.8M | 12.7M |
| Weighted Avg Shares (Diluted) | 12.7M | 12.6M | 12.4M | 12.3M | 13.1M | 13.3M | 13.1M | 13.0M | 13.1M | 12.9M |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 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 lags reported earnings — watch accruals. 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.
Free-cash-flow coverage unavailable. Last year: $3M dividends + $0 buybacks = $3M returned on -$59M FCF.
1 consecutive years of dividend increases.
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: 7%. 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.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable.
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
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 56th 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
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 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 13.9 | 13.7 | 15.5 | 14.9 | 16.4 | 14.0 | 13.4 | 13.0 |
| Operating Income | -0.8 | -19.3 | -5.3 | -17.1 | 0.5 | 8.6 | 21.3 | 21.6 |
| Income Tax | 0.1 | -0.9 | -7.0 | -3.6 | 0.6 | 1.5 | 2.8 | 3.8 |
| Net Income | -0.7 | -17.7 | 2.7 | -12.7 | -0.7 | 3.9 | 11.0 | 11.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NGS: 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 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 |
| NGS | $451M | 22.8× | 6.1× | 2.6× | 9.9% | — | 11.6% | 7.3% | 7.3% | — | 145 |
Peers = companies sharing NGS'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.