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Institutional accumulation: ownership increased +0.97% 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.
To be worth $9.12 today, the market must believe free cash flow compounds -11.6%/yr for a decade (off $8M normalized FCF).
The market's -11.6% is more optimistic than its 9-yr track record.
2-stage DCF · 0.01B shares (market data) · net debt -$18M
mean -26.4% · volatility σ 50% · implied rate exceeded in 4/8 yrs
Central path = implied -11.6%/yr growth; shaded band = ±1σ (50%) 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.
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 | $107.1M 100.0% | $112.9M 100.0% | $115.5M 100.0% | $114.9M 100.0% | $108.3M 100.0% | $95.8M 100.0% | $123.1M 100.0% | $124.8M 100.0% | $118.1M 100.0% | $119.0M 100.0% |
| Selling, General & Admin | $12.3M 11.5% | $12.4M 11.0% | $11.0M 9.5% | $14.3M 12.4% | $10.0M 9.3% | $11.6M 12.1% | $11.5M 9.3% | $11.4M 9.1% | $11.7M 9.9% | $11.0M 9.2% |
| Total Operating Expenses | $118.2M 110.3% | $110.6M 97.9% | $104.0M 90.1% | $101.8M 88.6% | $93.3M 86.1% | $97.1M 101.3% | $104.3M 84.7% | $105.1M 84.2% | $100.9M 85.4% | $96.4M 81.1% |
| Operating Income | -$11.0M -10.3% | $2.4M 2.1% | $11.5M 9.9% | $13.1M 11.4% | $15.1M 13.9% | -$1.2M -1.3% | $18.8M 15.3% | $19.7M 15.8% | $17.2M 14.6% | $22.5M 18.9% |
| Interest Expense | $434K 0.4% | $348K 0.3% | $173K 0.1% | $130K 0.1% | $284K 0.3% | $340K 0.4% | $735K 0.6% | $946K 0.8% | $903K 0.8% | $744K 0.6% |
| Interest & Investment Income | $904K 0.8% | $1.0M 0.9% | $1.4M 1.2% | $410K 0.4% | $16K 0.0% | $148K 0.2% | $610K 0.5% | $631K 0.5% | $0 0.0% | $0 0.0% |
| Other Income (Expense), net | $105K 0.1% | $1.5M 1.3% | $119K 0.1% | $652K 0.6% | $634K 0.6% | $233K 0.2% | $16K 0.0% | $23K 0.0% | $0 0.0% | $0 0.0% |
| Pretax Income | -$10.5M -9.8% | $4.6M 4.0% | $12.9M 11.1% | $14.0M 12.2% | $15.4M 14.2% | -$1.2M -1.3% | $18.7M 15.2% | $19.4M 15.5% | $16.3M 13.8% | $21.8M 18.3% |
| Income Tax Expense | -$2.6M -2.4% | $1.1M 1.0% | $3.4M 2.9% | $4.8M 4.2% | $4.3M 3.9% | $705K 0.7% | $5.4M 4.4% | $5.7M 4.6% | -$5.9M -5.0% | $8.9M 7.5% |
| Net Income | -$7.9M -7.4% | $3.5M 3.1% | $9.5M 8.2% | $9.2M 8.0% | $11.2M 10.3% | -$1.9M -2.0% | $13.3M 10.8% | $13.7M 11.0% | $54.7M 46.3% | $18.2M 15.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-1.22 | $0.55 | $1.55 | $1.52 | $1.85 | $-0.32 | $2.23 | $2.30 | $9.27 | $3.10 |
| EPS (Diluted) | $-1.22 | $0.55 | $1.55 | $1.52 | $1.85 | $-0.32 | $2.23 | $2.30 | $9.27 | $3.09 |
| Weighted Avg Shares (Basic) | 6.2M | 6.1M | 6.0M | 6.0M | 5.9M | 5.9M | 5.8M | 5.8M | 5.8M | 5.8M |
| Weighted Avg Shares (Diluted) | 6.2M | 6.1M | 6.0M | 6.0M | 5.9M | 5.9M | 5.8M | 5.8M | 5.8M | 5.8M |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/7 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; 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.
The dividend exceeds free cash flow (265%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $6M dividends + $0 buybacks = $6M returned on $2M 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -5%. 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 $23M covers all $10M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2020-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~8.7% on $5M of debt.
Cash vs short-term debt unavailable.
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 2026-09-17
No standout strengths flagged.
Where each multiple sits in its own 14-yr range
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
High operating leverage: profit moved 110.6× 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 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 9.1 | 9.3 | 12.1 | 9.3 | 12.4 | 9.5 | 11.0 | 11.5 |
| Operating Income | 15.8 | 15.3 | -1.3 | 13.9 | 11.4 | 9.9 | 2.1 | -10.3 |
| Income Tax | 4.6 | 4.4 | 0.7 | 3.9 | 4.2 | 2.9 | 1.0 | -2.4 |
| Net Income | 11.0 | 10.8 | -2.0 | 10.3 | 8.0 | 8.2 | 3.1 | -7.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SGA: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Top 29 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.
Ranked against 192 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.15T | 31.8× | 27.8× | 10.3× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.72T | 29.1× | 17.1× | 8.6× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.40T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $354.7B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $318.0B | 29.8× | 23.7× | 7.0× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $204.2B | 11.9× | 4.2× | 1.5× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $200.2B | 15.4× | 10.3× | 2.1× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $184.2B | 17.1× | 8.3× | 2.1× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $182.0B | 8.3× | 6.8× | 1.4× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.2B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $83.1B | 91.3× | 53.5× | 6.1× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $70.0B | 97.4× | 15.3× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| LYV | $39.6B | — | 25.1× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TTWO | $39.0B | — | 424.4× | 5.9× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| TWLO | $37.5B | 1172.6× | 107.1× | 7.4× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $28.5B | 58.3× | 60.1× | 12.9× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $26.9B | 11.9× | — | 1.6× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $24.6B | — | 57.5× | 1.4× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $22.8B | 261.1× | 530.2× | 4.8× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.5B | — | 39.5× | 4.8× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| NWS | $18.9B | 16.1× | — | 2.2× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| CHTR | $18.0B | 3.7× | 5.3× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| TKO | $15.3B | 83.8× | 13.8× | 3.2× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
| SGA | $58M | — | — | 0.5× | -5.1% | — | -7.4% | -5.2% | -5.0% | -0.9× | 27 |
Peers = companies sharing SGA's sector (Communication Services) 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.