Loading institutional data...
Loading institutional data...
Held by 820 of 5,944 reporting institutions (98th percentile) — extremely crowded.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
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 $196.92 today, the market must believe free cash flow compounds 10.6%/yr for a decade (off $1.6B normalized FCF).
The market's 10.6% is in line with its 9-yr track record.
2-stage DCF · 0.20B shares · net debt $417M
mean 14.8% · volatility σ 38% · implied rate exceeded in 4/9 yrs
Central path = implied 10.6%/yr growth; shaded band = ±1σ (38%) 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
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2026
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.24B 100.0% | $5.91B 100.0% | $5.66B 100.0% | $6.36B 100.0% | $6.32B 100.0% | $5.74B 100.0% | $5.41B 100.0% | $6.15B 100.0% | $5.92B 100.0% | $5.49B 100.0% |
| Cost of Revenue | $2.03B 32.5% | $1.96B 33.2% | $1.83B 32.4% | $2.15B 33.8% | $2.10B 33.2% | $1.93B 33.6% | $1.79B 33.1% | $2.20B 35.8% | $2.21B 37.4% | $2.13B 38.8% |
| Cost of Products | — | — | — | — | — | — | — | — | $1.74B 29.4% | $1.61B 29.4% |
| Gross Profit | $4.90B 78.5% | $4.61B 78.1% | $4.43B 78.4% | $4.21B 66.2% | $4.22B 66.8% | $3.81B 66.4% | $3.62B 66.9% | $3.94B 64.2% | $3.71B 62.7% | $3.36B 61.3% |
| Research & Development | $991.0M 15.9% | $1.01B 17.1% | $1.03B 18.2% | $956.0M 15.0% | $881.0M 13.9% | $881.0M 15.3% | $847.0M 15.7% | $827.0M 13.5% | $783.0M 13.2% | $779.0M 14.2% |
| Selling, General & Admin | $344.0M 5.5% | $311.0M 5.3% | $308.0M 5.4% | $265.0M 4.2% | $279.0M 4.4% | $257.0M 4.5% | $263.0M 4.9% | $278.0M 4.5% | $280.0M 4.7% | $271.0M 4.9% |
| Total Operating Expenses | $3.23B 51.7% | $3.28B 55.5% | $3.22B 56.9% | $3.19B 50.2% | $3.06B 48.5% | $2.78B 48.5% | $2.68B 49.5% | $2.72B 44.3% | $2.55B 43.1% | $2.74B 50.0% |
| Operating Income | $1.67B 26.8% | $1.34B 22.6% | $1.21B 21.5% | $1.02B 16.0% | $1.16B 18.3% | $1.03B 17.9% | $945.0M 17.5% | $1.22B 19.9% | $1.16B 19.6% | $621.0M 11.3% |
| Interest Expense | $109.0M 1.7% | $64.0M 1.1% | $64.0M 1.1% | $67.0M 1.1% | $73.0M 1.2% | $74.0M 1.3% | $55.0M 1.0% | $58.0M 0.9% | $62.0M 1.0% | $52.0M 0.9% |
| Interest & Investment Income | $113.0M 1.8% | $112.0M 1.9% | $112.0M 2.0% | $69.0M 1.1% | $7.0M 0.1% | $9.0M 0.2% | $48.0M 0.9% | $88.0M 1.4% | $79.0M 1.3% | $44.0M 0.8% |
| Other Income (Expense), net | -$26.0M -0.4% | $46.0M 0.8% | $49.0M 0.9% | $48.0M 0.8% | -$62.0M -1.0% | -$69.0M -1.2% | -$1.0M -0.0% | $47.0M 0.8% | $41.0M 0.7% | $0 0.0% |
| Pretax Income | $1.65B 26.4% | $1.38B 23.4% | $1.26B 22.3% | $1.07B 16.8% | $1.09B 17.3% | $962.0M 16.7% | $944.0M 17.4% | $1.27B 20.6% | $1.20B 20.3% | $621.0M 11.3% |
| Income Tax Expense | $372.0M 6.0% | $197.0M 3.3% | $277.0M 4.9% | -$208.0M -3.3% | $158.0M 2.5% | $232.0M 4.0% | $125.0M 2.3% | $99.0M 1.6% | $1.08B 18.3% | $140.0M 2.5% |
| Net Income | $1.28B 20.5% | $1.19B 20.1% | $986.0M 17.4% | $1.27B 20.0% | $937.0M 14.8% | $730.0M 12.7% | $819.0M 15.1% | $1.17B 19.0% | $116.0M 2.0% | $481.0M 8.8% |
| Per Share | ||||||||||
| EPS (Basic) | $6.41 | $5.81 | $4.74 | $5.87 | $4.20 | $3.29 | $3.56 | $4.60 | $0.43 | $1.75 |
| EPS (Diluted) | $6.35 | $5.67 | $4.63 | $5.79 | $4.09 | $3.23 | $3.52 | $4.51 | $0.42 | $1.71 |
| Weighted Avg Shares (Basic) | 199.0M | 204.0M | 208.0M | 217.0M | 223.0M | 222.0M | 230.0M | 254.0M | 268.0M | 275.0M |
| Weighted Avg Shares (Diluted) | 201.0M | 209.0M | 213.0M | 220.0M | 229.0M | 226.0M | 233.0M | 259.0M | 276.0M | 281.0M |
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.
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; 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.
The dividend is comfortably covered — only 22% of free cash flow, leaving room to grow it and fund buybacks. Last year: $413M dividends + $950M buybacks = $1.4B returned on $1.9B 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 33%. 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 $2.1B covers the $1.3B due within a year 1.6× over. Scheduled principal only (excludes interest & revolver draws). As of 2013-04-26 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.4% on $2.5B of debt.
Cash of $2.1B fully covers short-term debt of $0.
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 material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2026 · 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 4.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 35.8 | 33.1 | 33.6 | 33.2 | 33.8 | 32.4 | 33.2 | 32.5 |
| Gross Profit | 64.2 | 66.9 | 66.4 | 66.8 | 66.2 | 78.4 | 78.1 | 78.5 |
| R&D | 13.5 | 15.7 | 15.3 | 13.9 | 15.0 | 18.2 | 17.1 | 15.9 |
| SG&A | 4.5 | 4.9 | 4.5 | 4.4 | 4.2 | 5.4 | 5.3 | 5.5 |
| Operating Income | 19.9 | 17.5 | 17.9 | 18.3 | 16.0 | 21.5 | 22.6 | 26.8 |
| Income Tax | 1.6 | 2.3 | 4.0 | 2.5 | -3.3 | 4.9 | 3.3 | 6.0 |
| Net Income | 19.0 | 15.1 | 12.7 | 14.8 | 20.0 | 17.4 | 20.1 | 20.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NTAP: 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 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 |
| NTAP | $38.6B | 31.0× | 21.1× | 6.2× | 5.6% | 78.5% | 20.5% | 94.4% | 33.2% | 1.3× | 820 |
Peers = companies sharing NTAP'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.