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Institutional distribution: ownership decreased -2.32% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $2.07 today, the market must believe free cash flow compounds -26.5%/yr for a decade (off $14M normalized FCF).
The market's -26.5% is more conservative than its 2-yr track record.
2-stage DCF · 0.08B shares (market data) · net debt -$132M
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 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.
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 | $616.0M 100.0% | $3.29B 100.0% | $2.65B 100.0% | $3.17B 100.0% | $3.70B 100.0% | $2.44B 100.0% | $2.08B 100.0% | $1.48B 100.0% |
| Cost of Revenue | $495.4M 80.4% | $2.79B 84.8% | $2.08B 78.5% | $2.50B 78.9% | $2.89B 78.1% | $1.89B 77.1% | $1.59B 76.6% | $1.28B 86.6% |
| Gross Profit | $120.6M 19.6% | $498.8M 15.2% | $570.7M 21.5% | $669.7M 21.1% | $812.8M 21.9% | $559.1M 22.9% | $486.6M 23.4% | $198.6M 13.4% |
| Research & Development | $23.8M 3.9% | $130.1M 4.0% | $151.0M 5.7% | $176.5M 5.6% | $135.2M 3.7% | $105.3M 4.3% | $67.2M 3.2% | $91.8M 6.2% |
| Selling, General & Admin | $13.0M 2.1% | $130.6M 4.0% | $244.5M 9.2% | $158.5M 5.0% | $141.8M 3.8% | $104.9M 4.3% | $79.6M 3.8% | $272.5M 18.4% |
| Total Operating Expenses | $133.4M 21.7% | $750.3M 22.8% | $891.2M 33.6% | $775.3M 24.5% | $609.0M 16.4% | $411.0M 16.8% | $329.7M 15.9% | $514.4M 34.8% |
| Operating Income | -$12.6M -2.0% | -$250.6M -7.6% | -$317.5M -12.0% | -$89.3M -2.8% | $252.5M 6.8% | $170.6M 7.0% | $186.7M 9.0% | -$314.4M -21.3% |
| Interest Expense | $877K 0.1% | $5.6M 0.2% | $201K 0.0% | $5.7M 0.2% | $6.2M 0.2% | $7.4M 0.3% | $11.4M 0.5% | $7.7M 0.5% |
| Interest & Investment Income | $3.8M 0.6% | $37.1M 1.1% | $35.5M 1.3% | $12.9M 0.4% | $5.4M 0.1% | $8.8M 0.4% | $16.9M 0.8% | $3.0M 0.2% |
| Pretax Income | -$8.9M -1.4% | -$216.8M -6.6% | -$282.0M -10.6% | -$71.2M -2.2% | $272.9M 7.4% | $189.7M 7.8% | $198.3M 9.6% | -$349.0M -23.6% |
| Income Tax Expense | -$3.3M -0.5% | -$23.6M -0.7% | -$10.2M -0.4% | -$21.8M -0.7% | $47.0M 1.3% | $21.1M 0.9% | $8.2M 0.4% | $0 0.0% |
| Net Income | -$5.6M -0.9% | -$193.2M -5.9% | -$271.8M -10.3% | -$49.5M -1.6% | $225.8M 6.1% | $168.7M 6.9% | $190.1M 9.2% | -$349.0M -23.6% |
| Per Share | ||||||||
| EPS (Basic) | $-0.04 | $-1.22 | $-1.73 | $-0.32 | $1.47 | $1.12 | $1.28 | $-5.30 |
| EPS (Diluted) | $-0.04 | $-1.22 | $-1.73 | $-0.32 | $1.41 | $1.07 | $1.24 | $-5.30 |
| Weighted Avg Shares (Basic) | 159.7M | 158.5M | 156.8M | 155.2M | 153.7M | 150.9M | 149.0M | 65.8M |
| Weighted Avg Shares (Diluted) | 159.7M | 158.5M | 156.8M | 155.2M | 160.5M | 157.8M | 153.2M | 65.8M |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
5/7 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
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 $25M 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: -4%. 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash of $132M is below short-term debt of $240M — relies on refinancing/operations.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
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
Nothing notable to watch.
Where each multiple sits in its own 8-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 8-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 | 86.6 | 76.6 | 77.1 | 78.1 | 78.9 | 78.5 | 84.8 | 80.4 |
| Gross Profit | 13.4 | 23.4 | 22.9 | 21.9 | 21.1 | 21.5 | 15.2 | 19.6 |
| R&D | 6.2 | 3.2 | 4.3 | 3.7 | 5.6 | 5.7 | 4.0 | 3.9 |
| SG&A | 18.4 | 3.8 | 4.3 | 3.8 | 5.0 | 9.2 | 4.0 | 2.1 |
| Operating Income | -21.3 | 9.0 | 7.0 | 6.8 | -2.8 | -12.0 | -7.6 | -2.0 |
| Income Tax | 0.0 | 0.4 | 0.9 | 1.3 | -0.7 | -0.4 | -0.7 | -0.5 |
| Net Income | -23.6 | 9.2 | 6.9 | 6.1 | -1.6 | -10.3 | -5.9 | -0.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NIU: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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
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 490 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMZN | $2.65T | — | — | — | — | — | — | 20.5% | 16.2% | — | 5,764 |
| TSLA | $1.34T | 331.6× | 142.2× | 14.2× | -2.9% | 18.0% | 4.0% | 4.6% | 4.2% | 0.9× | 4,029 |
| TM | $608.8B | 59.5× | 24.6× | 2.6× | 3.8% | 18.4% | 4.4% | 7.9% | 5.9% | 1.7× | 665 |
| PDD | $448.4B | 33.4× | 32.3× | 7.3× | 14.5% | 56.3% | 22.7% | 23.7% | 23.7% | — | 548 |
| HD | $301.3B | 21.3× | 14.3× | 1.8× | 3.2% | 33.3% | 8.6% | 110% | 22.8% | 2.0× | 3,970 |
| BABA | $199.3B | 134.1× | — | 1.3× | 8.1% | 39.8% | 10.1% | 9.8% | 9.8% | — | 1,298 |
| TJX | $136.0B | 25.2× | — | 2.3× | 7.1% | 31.0% | 9.1% | 53.9% | 42.1% | — | 2,608 |
| HTHT | $131.2B | 185.7× | 113.0× | — | — | — | — | 39.7% | 27.3% | 0.7× | 258 |
| SBUX | $110.7B | 59.7× | 26.9× | 3.0× | 2.8% | — | 5.0% | -22.9% | 23.3% | 3.4× | 2,252 |
| LOW | $108.9B | 16.4× | 12.0× | 1.3× | 3.1% | 33.5% | 7.7% | -67.1% | 22.3% | 3.2× | 2,591 |
| ABNB | $102.7B | — | 38.3× | 8.4× | 10.3% | 83.0% | 20.5% | 30.6% | 24.6% | 0.8× | 1,246 |
| MELI | $93.3B | 46.7× | — | 3.2× | 39.1% | 44.5% | 6.9% | 29.6% | 12.5% | — | 1,380 |
| MAR | $89.1B | 35.2× | 20.7× | 3.4× | 4.3% | — | 9.9% | -69.0% | -69.4% | 0.0× | 1,559 |
| LKNCY | $87.3B | 170.2× | 91.9× | 12.4× | 48.9% | — | 7.3% | 23.0% | 23.0% | — | 9 |
| GM | $76.2B | 25.8× | 3.7× | 0.4× | -1.3% | — | 1.5% | 4.4% | 4.4% | — | 1,447 |
| ROST | $72.5B | 34.0× | 21.6× | 3.2× | 7.7% | 27.7% | 9.4% | 34.7% | 27.8% | 0.5× | 1,276 |
| ORLY | $70.5B | 28.2× | 19.2× | 4.0× | 6.4% | 51.6% | 14.3% | -333% | 48.3% | 1.5× | 1,569 |
| HLT | $70.4B | 49.9× | 24.2× | 5.8× | 7.7% | — | 12.1% | -27.0% | -27.0% | — | 1,126 |
| RCL | $68.8B | 16.3× | — | 3.8× | 8.8% | 49.4% | 23.8% | 42.5% | 32.3% | — | 1,114 |
| SE | $63.4B | 41.1× | 25.1× | 2.8× | 36.4% | 44.7% | 6.9% | 12.6% | 12.6% | — | 718 |
| F | $53.1B | — | 4.4× | 0.3× | 1.2% | 6.8% | -4.4% | -22.7% | -22.7% | — | — |
| NKE | $53.1B | 17.0× | — | 1.1× | 0.2% | 42.9% | 6.7% | 20.9% | 13.6% | — | 1,848 |
| EBAY | $49.0B | 25.1× | 17.8× | 4.4× | 7.9% | 71.5% | 18.3% | 45.3% | 38.8% | 0.3× | 1,182 |
| AZO | $47.8B | 19.7× | 13.3× | 2.5× | 2.4% | 52.6% | 13.2% | -73.2% | 46.4% | 2.1× | 1,245 |
| CMG | $45.0B | 29.5× | 19.4× | 3.8× | 5.4% | — | 12.9% | 54.3% | 54.3% | 0.0× | 1,203 |
| NIU | $161M | — | 8.8× | 0.3× | 36.7% | 19.6% | -0.9% | -4.4% | -4.4% | — | 49 |
Peers = companies sharing NIU's sector (Consumer Cyclical) 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.