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Strong institutional accumulation: ownership increased +13.76% 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.
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
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
2/8 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
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising 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 -$57M 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: -408%. 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 $19M covers all $2M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~18.0% on $29M of debt.
Cash of $19M fully covers short-term debt of $1M.
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 2026-09-18
Where each multiple sits in its own 12-yr range · 40th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-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
High operating leverage: profit moved 1.7× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| R&D | — | — | — | — | — | 655.6 | 792.3 | 900.7 |
| SG&A | — | — | 18544.2 | — | 1422.8 | 530.1 | 658.1 | 624.9 |
| Operating Income | — | — | -49500.0 | — | -3580.0 | -1085.7 | -1350.4 | -1425.7 |
| Income Tax | — | — | 0.0 | — | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | — | — | -50748.8 | — | -3488.9 | -1043.7 | -1331.7 | -1540.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on OCGN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-18
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 | $4.4M 100.0% | $4.1M 100.0% | $6.0M 100.0% | $2.5M 100.0% | $0 | $43K 100.0% | $0 | $0 | $0 | $0 |
| Research & Development | $39.8M 900.7% | $32.1M 792.3% | $39.6M 655.6% | — | — | — | $8.1M | $10.3M | $15.6M | $21.6M |
| Selling, General & Admin | $27.6M 624.9% | $26.7M 658.1% | $32.0M 530.1% | $35.4M 1422.8% | $22.9M | $8.0M 18544.2% | $6.1M | $5.8M | $9.4M | $8.5M |
| Total Operating Expenses | $67.3M 1525.7% | $58.8M 1450.4% | $71.6M 1185.7% | $91.6M 3680.0% | $58.0M | $21.3M 49600.0% | $14.2M | $16.1M | $24.9M | $30.3M |
| Operating Income | -$62.9M -1425.7% | -$54.8M -1350.4% | -$65.5M -1085.7% | -$89.1M -3580.0% | -$58.0M | -$21.3M -49500.0% | -$14.2M | -$16.1M | -$24.9M | -$30.3M |
| Interest Expense | $5.2M 117.6% | $688K 17.0% | — | — | $79K | $721K 1676.7% | $1.8M | $3.8M | — | $60K |
| Interest & Investment Income | $922K 20.9% | $1.3M 30.9% | — | — | — | $1K 2.5% | $1K | $19K | — | — |
| Other Income (Expense), net | -$4.9M -111.7% | $703K 17.3% | $2.5M 40.6% | $2.3M 91.1% | -$389K | -$537K -1248.8% | -$6.1M | -$2.1M | -$1.5M | $14.1M |
| Pretax Income | -$67.8M -1537.4% | -$54.1M -1333.0% | -$63.1M -1045.0% | -$86.8M -3488.9% | -$58.4M | -$21.8M -50748.8% | -$20.2M | -$8.6M | -$26.4M | -$16.2M |
| Income Tax Expense | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | -$52K | $0 0.0% | $0 | — | — | — |
| Net Income | -$68.0M -1540.9% | -$54.0M -1331.7% | -$63.0M -1043.7% | -$86.8M -3488.9% | -$58.4M | -$21.8M -50748.8% | -$20.2M | -$18.2M | -$26.4M | -$16.2M |
| Per Share | ||||||||||
| EPS (Basic) | — | — | $-0.26 | $-0.40 | $-0.30 | $-0.31 | $-1.46 | $-0.23 | $-0.99 | $-0.97 |
| EPS (Diluted) | — | — | $-0.26 | $-0.40 | $-0.30 | $-0.31 | $-1.46 | $-0.79 | $-0.99 | $-2.18 |
| Weighted Avg Shares (Basic) | — | — | 244.3M | 214.6M | 195.0M | 112.2M | 13.9M | 36.4M | 22.7M | 14.3M |
| Weighted Avg Shares (Diluted) | — | — | 244.3M | 214.6M | 195.0M | 112.2M | 13.9M | 37.1M | 22.7M | 14.4M |
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.
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 | $829.3B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.0B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $466.9B | 111.8× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $367.5B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $341.5B | 28.5× | 19.8× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $245.6B | 36.7× | 31.7× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $207.8B | 27.1× | 17.8× | 5.7× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $186.3B | 22.1× | 20.3× | 6.3× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.6B | 27.6× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.2B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $149.7B | 41.9× | 30.9× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $139.7B | 50.0× | 38.4× | 13.9× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $129.1B | 33.2× | 28.3× | 10.8× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $128.3B | 18.2× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $117.9B | 24.7× | 12.5× | 3.2× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $112.9B | 63.9× | 11.3× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $105.2B | 32.8× | 18.1× | 4.2× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.0B | 22.8× | 16.1× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.1B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $90.7B | 16.3× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.1B | 18.9× | 19.6× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.5B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| OCGN | $331M | — | — | 75.0× | 8.8% | — | -1537% | 558% | -408% | -0.5× | 135 |
Peers = companies sharing OCGN'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.