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Held by 211 of 5,944 reporting institutions (92th 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.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
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.
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 | $655.4M 100.0% | $605.2M 100.0% | $509.3M 100.0% | $537.8M 100.0% | $535.0M 100.0% | $494.4M 100.0% | $351.3M 100.0% | $248.1M 100.0% | $177.0M 100.0% | $82.9M 100.0% |
| Cost of Revenue | $166.9M 25.5% | $137.2M 22.7% | $128.3M 25.2% | $114.9M 21.4% | $114.9M 21.5% | $106.5M 21.5% | $88.6M 25.2% | $80.0M 32.3% | $55.6M 31.4% | $39.9M 48.1% |
| Gross Profit | $488.5M 74.5% | $468.0M 77.3% | $381.1M 74.8% | $423.0M 78.6% | $420.2M 78.5% | $387.9M 78.5% | $262.7M 74.8% | $168.0M 67.7% | $121.4M 68.6% | $36.6M 44.2% |
| Research & Development | $224.5M 34.3% | $209.6M 34.6% | $223.1M 43.8% | $206.1M 38.3% | $201.3M 37.6% | $132.0M 26.7% | $79.0M 22.5% | $50.6M 20.4% | $38.1M 21.5% | $41.5M 50.0% |
| Selling, General & Admin | $177.7M 27.1% | $189.8M 31.4% | $164.1M 32.2% | $132.8M 24.7% | $126.1M 23.6% | $107.4M 21.7% | $87.9M 25.0% | $73.5M 29.6% | $59.1M 33.4% | $51.0M 61.5% |
| Total Operating Expenses | $642.3M 98.0% | $638.5M 105.5% | $613.9M 120.5% | $512.5M 95.3% | $464.5M 86.8% | $357.5M 72.3% | $263.6M 75.0% | $201.7M 81.3% | $160.7M 90.8% | $151.9M 183.3% |
| Operating Income | -$153.8M -23.5% | -$170.5M -28.2% | -$232.9M -45.7% | -$89.5M -16.6% | -$44.3M -8.3% | $30.4M 6.1% | -$914K -0.3% | -$33.7M -13.6% | -$39.3M -22.2% | -$115.3M -139.1% |
| Interest Expense | $22.2M 3.4% | $11.7M 1.9% | $4.9M 1.0% | $8.1M 1.5% | $8.8M 1.7% | $18.1M 3.7% | $14.6M 4.2% | $16.9M 6.8% | $11.7M 6.6% | $7.3M 8.8% |
| Interest & Investment Income | $12.9M 2.0% | $22.7M 3.8% | $19.6M 3.9% | $11.0M 2.0% | $791K 0.1% | $1.8M 0.4% | $4.4M 1.3% | $2.7M 1.1% | $1.1M 0.6% | $659K 0.8% |
| Pretax Income | -$136.3M -20.8% | -$131.2M -21.7% | -$191.7M -37.6% | -$81.8M -15.2% | -$52.1M -9.7% | $18.1M 3.7% | -$8.8M -2.5% | -$45.9M -18.5% | -$48.5M -27.4% | -$121.5M -146.5% |
| Income Tax Expense | -$23K -0.0% | $37.5M 6.2% | $15.3M 3.0% | $10.7M 2.0% | $6.3M 1.2% | -$1.7M -0.3% | -$1.6M -0.5% | $17.6M 7.1% | $13.2M 7.4% | $10.4M 12.5% |
| Net Income | -$136.2M -20.8% | -$169.0M -27.9% | -$207.0M -40.6% | -$93.0M -17.3% | -$58.0M -10.8% | $19.8M 4.0% | -$7.2M -2.1% | -$63.6M -25.6% | -$61.7M -34.8% | -$131.8M -159.1% |
| Per Share | ||||||||||
| EPS (Basic) | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 | $0.20 | $-0.07 | $-0.69 | — | — |
| EPS (Diluted) | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 | $0.18 | $-0.07 | $-0.69 | — | — |
| Weighted Avg Shares (Basic) | 111.5M | 107.8M | 106.4M | 104.7M | 103.4M | 100.9M | 97.2M | 91.8M | — | — |
| Weighted Avg Shares (Diluted) | 111.5M | 107.8M | 106.4M | 104.7M | 103.4M | 108.9M | 97.2M | 91.8M | — | — |
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.
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; 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$76M 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 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: -25%. 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).
Thin coverage — earnings barely cover interest. Effective rate ~11.4% on $195M of debt.
Cash vs short-term debt unavailable.
Mostly long-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
Where each multiple sits in its own 11-yr range · 18th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 11-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 | 32.3 | 25.2 | 21.5 | 21.5 | 21.4 | 25.2 | 22.7 | 25.5 |
| Gross Profit | 67.7 | 74.8 | 78.5 | 78.5 | 78.6 | 74.8 | 77.3 | 74.5 |
| R&D | 20.4 | 22.5 | 26.7 | 37.6 | 38.3 | 43.8 | 34.6 | 34.3 |
| SG&A | 29.6 | 25.0 | 21.7 | 23.6 | 24.7 | 32.2 | 31.4 | 27.1 |
| Operating Income | -13.6 | -0.3 | 6.1 | -8.3 | -16.6 | -45.7 | -28.2 | -23.5 |
| Income Tax | 7.1 | -0.5 | -0.3 | 1.2 | 2.0 | 3.0 | 6.2 | -0.0 |
| Net Income | -25.6 | -2.1 | 4.0 | -10.8 | -17.3 | -40.6 | -27.9 | -20.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NVCR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 1085 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| NVCR | $1.9B | — | — | 2.9× | 8.3% | 74.5% | -20.8% | -40.0% | -25.4% | -1.4× | 211 |
Peers = companies sharing NVCR's sector (Healthcare) 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.