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Institutional distribution: ownership decreased -1.24% 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.
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.
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.
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 + $4M buybacks = $4M returned on -$84M 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 6 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: -22%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 6 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 · 45d 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 |
|---|---|---|---|---|---|---|
| Revenue | $21.7M 100.0% | $20.1M 100.0% | $17.4M 100.0% | $11.8M 100.0% | $2.7M 100.0% | $2.1M 100.0% |
| Research & Development | $72.5M 333.4% | $73.3M 364.2% | $54.7M 314.5% | $38.6M 327.4% | $17.1M 630.6% | $9.6M 456.2% |
| Selling, General & Admin | $29.4M 135.3% | $31.8M 158.1% | $25.6M 146.8% | $22.7M 192.8% | $5.7M 208.5% | $1.2M 58.3% |
| Total Operating Expenses | $122.6M 563.7% | $125.5M 623.0% | $108.0M 620.5% | $70.9M 601.5% | $29.3M 1078.8% | $13.7M 651.3% |
| Operating Income | -$100.8M -463.7% | -$105.3M -523.0% | -$90.6M -520.5% | -$59.1M -501.5% | -$26.5M -978.8% | -$11.6M -551.3% |
| Interest Expense | $25K 0.1% | $46K 0.2% | $84K 0.5% | $42K 0.4% | $394K 14.5% | $361K 17.2% |
| Interest & Investment Income | $13.2M 60.7% | $17.7M 87.7% | $20.3M 116.4% | $8.5M 71.9% | $56K 2.1% | $28K 1.3% |
| Other Income (Expense), net | $7.3M 33.8% | $10.1M 50.4% | $25.1M 144.0% | $49.3M 418.5% | $44.6M 1645.0% | -$2.7M -126.7% |
| Pretax Income | -$93.5M -429.9% | -$95.2M -472.7% | -$65.5M -376.5% | -$9.8M -83.0% | $18.1M 666.2% | -$14.3M -677.9% |
| Income Tax Expense | -$8K -0.0% | $1.2M 5.9% | $2K 0.0% | -$227K -1.9% | -$25K -0.9% | $118K 5.6% |
| Net Income | -$93.4M -429.5% | -$96.5M -479.3% | -$65.5M -376.5% | -$9.6M -81.1% | $18.1M 667.1% | -$14.4M -683.5% |
| Per Share | ||||||
| EPS (Basic) | $-0.51 | $-0.54 | $-0.37 | $-0.05 | $0.13 | $-0.21 |
| EPS (Diluted) | $-0.51 | $-0.54 | $-0.37 | $-0.05 | $0.11 | $-0.21 |
| Weighted Avg Shares (Basic) | 184.9M | 179.4M | 178.0M | 174.4M | 95.5M | 69.2M |
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.
EOD close · as of 2026-08-05
Where each multiple sits in its own 5-yr range · 0th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 5-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 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| R&D | 456.2 | 630.6 | 327.4 | 314.5 | 364.2 | 333.4 |
| SG&A | 58.3 | 208.5 | 192.8 | 146.8 | 158.1 | 135.3 |
| Operating Income | -551.3 | -978.8 | -501.5 | -520.5 | -523.0 | -463.7 |
| Income Tax | 5.6 | -0.9 | -1.9 | 0.0 | 5.9 | -0.0 |
| Net Income | -683.5 | 667.1 | -81.1 | -376.5 | -479.3 | -429.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SLDPW: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $22M covers all $130000 of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2021-12-31 (10-K).
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. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 21 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