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Strong institutional distribution: ownership decreased -27.04% quarter-over-quarter.
Data as of Q1 2026
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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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
2/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
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).
Coverage data unavailable; 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 -$42M 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: 475%. 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.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $6M covers the $0 due within a year 5809000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-09-30 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2018 (no longer broken out).
Cash of $6M is below short-term debt of $18M — relies on refinancing/operations.
Mostly short-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
Where each multiple sits in its own 7-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-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
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on QNCX: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
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 |
|---|---|---|---|---|---|---|---|---|
| Research & Development | $35.4M | $18.6M | $9.4M | $25.2M | $60.8M | $61.3M | $30.2M | $10.1M |
| Selling, General & Admin | $15.0M | $17.6M | $17.7M | $26.0M | $29.5M | $17.6M | $9.0M | $2.0M |
| Total Operating Expenses | $58.1M | $57.3M | $34.6M | $52.0M | $90.3M | $78.9M | $39.2M | $12.1M |
| Operating Income | -$58.1M | -$57.3M | -$34.6M | -$52.0M | -$90.3M | -$78.9M | -$39.2M | -$12.1M |
| Interest Expense | — | — | — | — | — | — | — | $957K |
| Interest & Investment Income | $1.2M | $2.9M | $3.5M | $1.1M | $620K | $2.0M | $2.2M | $806K |
| Other Income (Expense), net | $486K | -$676K | -$102K | -$997K | -$247K | $0 | $0 | — |
| Pretax Income | -$80.8M | -$56.7M | -$31.6M | -$51.9M | -$89.9M | -$76.8M | -$37.0M | — |
| Income Tax Expense | $3.2M | $87K | -$197K | -$284K | $0 | $0 | $0 | $0 |
| Net Income | -$84.0M | -$56.8M | -$31.4M | -$51.7M | -$89.9M | -$76.8M | -$37.0M | -$12.5M |
| Per Share | ||||||||
| EPS (Basic) | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 | — | — | — |
| EPS (Diluted) | $-1.68 | $-1.31 | $-0.84 | $-1.54 | $-3.03 | — | — | — |
| Weighted Avg Shares (Basic) | 50.1M | 43.3M | 37.2M | 33.5M | 29.7M | — | — | — |
| Weighted Avg Shares (Diluted) | 50.1M | 43.3M | 37.2M | 33.5M | 29.7M | — | — | — |
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.