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Strong institutional accumulation: ownership increased +7.93% 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.
Top 25 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
How management deployed cash over 9 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: 51843%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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.
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.
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.
2/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 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 -$18M 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.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $130K 100.0% | $56K 100.0% | $3.2M 100.0% | $34K 100.0% | $144K 100.0% | $361K 100.0% | $1.7M 100.0% | $1.4M 100.0% | $1.4M 100.0% |
| Cost of Revenue | — | — | $40K 1.3% | $13K 38.2% | $19K 13.2% | $26K 7.2% | $244K 14.1% | $364K 26.1% | $168K 12.0% |
| Gross Profit | — | — | $102K 3.2% | $21K 61.8% | $125K 86.8% | $335K 92.8% | $1.5M 85.9% | $1.0M 73.9% | $1.2M 88.0% |
| Research & Development | $13.2M 10119.2% | $7.5M 13357.1% | $2.4M 75.7% | $1.0M 3014.7% | $1.5M 1011.1% | $3.7M 1028.8% | $5.9M 341.7% | $5.8M 417.6% | $5.8M 412.0% |
| Selling, General & Admin | $11.0M 8459.2% | $9.6M 17185.7% | $3.9M 123.5% | $6.0M 17561.8% | $6.7M 4658.3% | $6.7M 1861.8% | $8.1M 471.0% | $5.6M 404.5% | $3.9M 275.6% |
| Total Operating Expenses | $24.2M 18578.5% | $17.1M 30542.9% | $6.3M 199.2% | $7.0M 20576.5% | $8.2M 5669.4% | $10.4M 2890.6% | $14.0M 812.7% | -$12.3M -879.4% | $9.7M 687.5% |
| Operating Income | -$24.0M -18478.5% | -$17.0M -30442.9% | -$3.1M -99.2% | -$7.0M -20514.7% | -$7.9M -5509.0% | -$10.1M -2797.8% | -$12.6M -726.8% | -$11.2M -805.5% | -$6.7M -474.6% |
| Interest Expense | $213K 163.8% | $526K 939.3% | $4.9M 155.4% | $3.3M 9808.8% | $1.1M 761.8% | — | — | — | — |
| Other Income (Expense), net | $4.8M 3711.5% | $5.8M 10430.4% | $8.4M 266.3% | -$3.5M -10432.4% | -$649K -450.7% | -$299K -82.8% | $323K 18.7% | $3.5M 251.7% | $26K 1.9% |
| Pretax Income | -$19.2M -14766.9% | -$11.2M -20012.5% | $5.3M 167.1% | $10.5M 30882.4% | $8.7M 6041.7% | -$11.1M -3082.0% | -$12.2M -708.1% | -$7.7M -553.8% | — |
| Income Tax Expense | $18K 13.8% | $0 0.0% | $0 0.0% | — | — | -$150K -41.6% | $148K 8.6% | — | — |
| Net Income | -$19.2M -14755.4% | -$11.1M -19894.6% | $5.3M 167.1% | -$10.5M -30770.6% | -$8.7M -6024.3% | -$10.9M -3009.7% | -$12.2M -703.4% | -$7.5M -537.4% | -$6.6M -468.7% |
| Per Share | |||||||||
| EPS (Basic) | $-1.91 | $-1.51 | $2.36 | $-9.70 | $-0.23 | — | — | — | — |
| EPS (Diluted) | $-1.91 | $-1.51 | $0.73 | $-9.70 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 10.2M | 7.4M | 2.2M | 1K | 37.9M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 10.2M | 7.4M | 7.4M | 1K | — | — | — | — | — |
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.
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.
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 | $1.20T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.02T | 49.6× | — | 15.7× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $916.2B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $643.4B | 24.2× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $464.4B | 111.2× | 33.2× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $362.6B | 19.9× | — | 5.6× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $340.0B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $252.6B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $244.5B | 36.5× | 31.5× | 5.5× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $202.8B | 26.4× | 17.4× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $183.3B | 21.8× | 20.0× | 6.2× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.2B | 27.5× | 19.3× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $156.1B | 20.2× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $147.3B | 41.3× | 30.5× | 6.0× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $135.8B | 48.6× | 37.3× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.4B | 33.5× | 28.6× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.5B | 24.8× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| LGVN | $117.4B | — | — | 97924.4× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $116.6B | 66.0× | 11.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $108.8B | 33.9× | 18.7× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $103.4B | 23.1× | 16.3× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.7B | 15.2× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.1B | 16.4× | 15.4× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.0B | 18.7× | 19.4× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| SER | $23M | — | — | 178.9× | 132% | — | -14755% | 51843% | 51843% | — | 24 |
Peers = companies sharing SER'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.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 8-yr range · 25th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 8-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
Returns are margin-driven, not leverage-driven — higher quality.
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 | 26.1 | 14.1 | 7.2 | 13.2 | 38.2 | 1.3 | — | — |
| Gross Profit | 73.9 | 85.9 | 92.8 | 86.8 | 61.8 | 3.2 | — | — |
| R&D | 417.6 | 341.7 | 1028.8 | 1011.1 | 3014.7 | 75.7 | 13357.1 | 10119.2 |
| SG&A | 404.5 | 471.0 | 1861.8 | 4658.3 | 17561.8 | 123.5 | 17185.7 | 8459.2 |
| Operating Income | -805.5 | -726.8 | -2797.8 | -5509.0 | -20514.7 | -99.2 | -30442.9 | -18478.5 |
| Income Tax | — | 8.6 | -41.6 | — | — | 0.0 | 0.0 | 13.8 |
| Net Income | -537.4 | -703.4 | -3009.7 | -6024.3 | -30770.6 | 167.1 | -19894.6 | -14755.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SER: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.