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Held by 200 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.
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 | $455.5M 100.0% | $350.0M 100.0% | $276.7M 100.0% | $262.3M 100.0% | $210.4M 100.0% | $213.8M 100.0% | $187.2M 100.0% | $201.2M 100.0% | $232.6M 100.0% | $229.7M 100.0% |
| Cost of Revenue | $257.5M 56.5% | $203.9M 58.2% | $187.3M 67.7% | $180.6M 68.9% | $154.1M 73.2% | $174.5M 81.6% | $149.8M 80.0% | $163.7M 81.4% | $181.6M 78.1% | $183.5M 79.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $85.8M 36.9% | $74.0M 32.2% |
| Cost of Services | — | — | — | — | — | — | — | — | $39.6M 17.0% | $35.6M 15.5% |
| Gross Profit | $198.0M 43.5% | $146.1M 41.8% | $89.4M 32.3% | $81.7M 31.1% | $56.3M 26.8% | $39.3M 18.4% | $37.4M 20.0% | $37.5M 18.6% | $51.0M 21.9% | $46.2M 20.1% |
| Research & Development | $81.8M 18.0% | $67.3M 19.2% | $58.4M 21.1% | $48.6M 18.5% | $34.6M 16.4% | $19.3M 9.0% | $13.4M 7.1% | $12.4M 6.2% | $12.0M 5.2% | $11.6M 5.0% |
| Selling, General & Admin | $122.7M 26.9% | $108.9M 31.1% | $72.1M 26.1% | $101.2M 38.6% | $84.0M 39.9% | $46.2M 21.6% | $38.1M 20.3% | $35.8M 17.8% | $38.2M 16.4% | $31.4M 13.7% |
| Total Operating Expenses | $266.8M 58.6% | $225.2M 64.4% | $161.2M 58.2% | $150.8M 57.5% | $120.1M 57.1% | $63.3M 29.6% | $51.6M 27.6% | $47.8M 23.7% | $51.1M 22.0% | $44.0M 19.2% |
| Operating Income | -$68.8M -15.1% | -$79.1M -22.6% | -$71.7M -25.9% | -$69.1M -26.3% | -$63.8M -30.3% | -$23.9M -11.2% | -$14.2M -7.6% | -$10.3M -5.1% | -$121K -0.1% | $2.2M 1.0% |
| Interest Expense | $8.7M 1.9% | $13.9M 4.0% | $9.8M 3.6% | $10.0M 3.8% | — | — | — | — | — | — |
| Other Income (Expense), net | -$1.1M -0.2% | $1.1M 0.3% | -$489K -0.2% | -$1.2M -0.5% | -$1.3M -0.6% | $808K 0.4% | -$449K -0.2% | $683K 0.3% | $629K 0.3% | $1.3M 0.6% |
| Pretax Income | -$81.7M -17.9% | -$94.7M -27.1% | -$79.8M -28.8% | -$78.9M -30.1% | -$94.9M -45.1% | -$39.5M -18.5% | -$19.2M -10.3% | -$10.0M -5.0% | $387K 0.2% | $3.6M 1.6% |
| Income Tax Expense | $2.9M 0.6% | -$4.8M -1.4% | $1.8M 0.7% | $1.1M 0.4% | -$9.5M -4.5% | -$3.0M -1.4% | -$3.6M -1.9% | $14.1M 7.0% | $4.0M 1.7% | $1.1M 0.5% |
| Net Income | -$84.5M -18.5% | -$5.0M -1.4% | -$69.8M -25.2% | -$69.3M -26.4% | -$75.8M -36.0% | -$36.6M -17.1% | -$15.6M -8.3% | -$24.1M -12.0% | -$3.4M -1.5% | $1.8M 0.8% |
| Per Share | ||||||||||
| EPS (Basic) | $-2.09 | $-0.14 | $-2.53 | $-2.55 | $-3.02 | $-1.92 | $-0.96 | $-1.50 | $-0.22 | $0.11 |
| EPS (Diluted) | $-2.09 | $-0.14 | $-2.53 | $-2.55 | $-3.02 | $-1.92 | $-0.96 | $-1.50 | $-0.22 | $0.11 |
| Weighted Avg Shares (Basic) | 40.5M | 34.2M | 27.6M | 27.2M | 25.1M | 19.0M | 16.2M | 16.0M | 15.9M | 15.7M |
| Weighted Avg Shares (Diluted) | 40.5M | 34.2M | 27.6M | 27.2M | 25.1M | 19.0M | 16.2M | 16.0M | 15.9M | 15.7M |
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.
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.
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 -$30M 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: -7%. 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 $80M covers the $20M due within a year 4.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~2.2% on $394M of debt.
Cash of $80M fully covers short-term debt of $20M.
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.
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.
EOD close · as of 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 22th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-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 | 81.4 | 80.0 | 81.6 | 73.2 | 68.9 | 67.7 | 58.2 | 56.5 |
| Gross Profit | 18.6 | 20.0 | 18.4 | 26.8 | 31.1 | 32.3 | 41.8 | 43.5 |
| R&D | 6.2 | 7.1 | 9.0 | 16.4 | 18.5 | 21.1 | 19.2 | 18.0 |
| SG&A | 17.8 | 20.3 | 21.6 | 39.9 | 38.6 | 26.1 | 31.1 | 26.9 |
| Operating Income | -5.1 | -7.6 | -11.2 | -30.3 | -26.3 | -25.9 | -22.6 | -15.1 |
| Income Tax | 7.0 | -1.9 | -1.4 | -4.5 | 0.4 | 0.7 | -1.4 | 0.6 |
| Net Income | -12.0 | -8.3 | -17.1 | -36.0 | -26.4 | -25.2 | -1.4 | -18.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PAR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 |
| PAR | $650M | — | — | 1.4× | 30.2% | 43.5% | -18.5% | -10.2% | -6.9% | -19.9× | 200 |
Peers = companies sharing PAR'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.