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Institutional distribution: ownership decreased -0.91% 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.
A reverse DCF cannot be solved for OPENZ: its net cash ($962M) exceeds its market value, so enterprise value is negative. Discounting a positive cash-flow stream always gives a positive number, so no growth rate reaches that target. This is common for banks, brokers and payment companies, where customer balances sit in the cash line and are not the company's to spend.
2-stage DCF · 0.96B shares · net debt -$962M
mean -290.1% · volatility σ 621% · implied rate exceeded in 1/3 yrs
Central path = implied -60.0%/yr growth; shaded band = ±1σ (621%) 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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 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.
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 $1.0B 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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -129%. 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.
EOD close · as of 2026-08-05 · 44d old
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 | $4.37B 100.0% | $5.15B 100.0% | $6.95B 100.0% | $15.57B 100.0% | $8.02B 100.0% | $2.58B 100.0% | $4.74B 100.0% | $1.84B 100.0% |
| Cost of Revenue | $4.02B 92.0% | $4.72B 91.6% | $6.46B 93.0% | $14.90B 95.7% | $7.29B 90.9% | $2.36B 91.5% | $4.44B 93.7% | $1.70B 92.7% |
| Gross Profit | $350.0M 8.0% | $433.0M 8.4% | $487.0M 7.0% | $667.0M 4.3% | $730.0M 9.1% | $220.0M 8.5% | $301.0M 6.3% | $133.4M 7.3% |
| Research & Development | $79.0M 1.8% | $141.0M 2.7% | $167.0M 2.4% | $169.0M 1.1% | $134.0M 1.7% | $56.0M 2.2% | $51.0M 1.1% | $28.5M 1.5% |
| Selling, General & Admin | $238.0M 5.4% | $182.0M 3.5% | $206.0M 3.0% | $346.0M 2.2% | $620.0M 7.7% | $132.0M 5.1% | $114.0M 2.4% | $72.3M 3.9% |
| Total Operating Expenses | $637.0M 14.6% | $753.0M 14.6% | $873.0M 12.6% | $1.60B 10.3% | $1.30B 16.2% | $406.0M 15.7% | $549.0M 11.6% | $297.1M 16.2% |
| Operating Income | -$287.0M -6.6% | -$320.0M -6.2% | -$386.0M -5.6% | -$931.0M -6.0% | -$568.0M -7.1% | -$186.0M -7.2% | -$248.0M -5.2% | -$163.7M -8.9% |
| Interest Expense | $131.0M 3.0% | $133.0M 2.6% | $211.0M 3.0% | $385.0M 2.5% | $143.0M 1.8% | $68.0M 2.6% | $110.0M 2.3% | $60.5M 3.3% |
| Other Income (Expense), net | $42.0M 1.0% | $64.0M 1.2% | $107.0M 1.5% | -$10.0M -0.1% | $38.0M 0.5% | $4.0M 0.2% | $13.0M 0.3% | $2.6M 0.1% |
| Pretax Income | -$1.30B -29.7% | -$391.0M -7.6% | -$274.0M -3.9% | -$1.35B -8.7% | -$661.0M -8.2% | -$253.0M -9.8% | -$339.0M -7.2% | -$239.6M -13.0% |
| Income Tax Expense | $0 0.0% | $1.0M 0.0% | $1.0M 0.0% | $2.0M 0.0% | $1.0M 0.0% | $0 0.0% | $0 0.0% | $377K 0.0% |
| Net Income | -$1.30B -29.7% | -$392.0M -7.6% | -$275.0M -4.0% | -$1.35B -8.7% | -$662.0M -8.3% | -$253.0M -9.8% | -$341.0M -7.2% | -$241.3M -13.1% |
| Per Share | ||||||||
| EPS (Basic) | $-1.70 | $-0.56 | $-0.42 | $-2.16 | $-1.12 | $-2.31 | $-4.26 | $-3.16 |
| EPS (Diluted) | $-1.70 | $-0.56 | $-0.42 | $-2.16 | $-1.12 | $-2.31 | $-4.37 | $-3.16 |
| Weighted Avg Shares (Basic) | 766.5M | 699.5M | 657.1M | 627.1M | 592.6M | 109.3M | 80.0M | 78.6M |
| Weighted Avg Shares (Diluted) | 766.5M | 699.5M | 657.1M | 627.1M | 592.6M | 109.3M | 80.0M | 78.6M |
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.
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 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 2026-08-05
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 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 92.7 | 93.7 | 91.5 | 90.9 | 95.7 | 93.0 | 91.6 | 92.0 |
| Gross Profit | 7.3 | 6.3 | 8.5 | 9.1 | 4.3 | 7.0 | 8.4 | 8.0 |
| R&D | 1.5 | 1.1 | 2.2 | 1.7 | 1.1 | 2.4 | 2.7 | 1.8 |
| SG&A | 3.9 | 2.4 | 5.1 | 7.7 | 2.2 | 3.0 | 3.5 | 5.4 |
| Operating Income | -8.9 | -5.2 | -7.2 | -7.1 | -6.0 | -5.6 | -6.2 | -6.6 |
| Income Tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | -13.1 | -7.2 | -9.8 | -8.3 | -8.7 | -4.0 | -7.6 | -29.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on OPENZ: 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