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Institutional distribution: ownership decreased -0.85% 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 $12.68 today, the market must believe free cash flow compounds 2.9%/yr for a decade (off $20M normalized FCF).
The market's 2.9% is more optimistic than its 7-yr track record.
2-stage DCF · 0.02B shares · net debt $38M
mean 746.2% · volatility σ 1774% · implied rate exceeded in 2/5 yrs
Central path = implied 2.9%/yr growth; shaded band = ±1σ (1774%) 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.
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.
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. 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 + $19M buybacks = $19M returned on $34M 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.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 9%. 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 $17M covers the $3M due within a year 5.8× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-06-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~14.4% on $55M of debt.
Cash of $17M fully covers short-term debt of $9M.
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 2026-09-18
No material risks flagged.
Where each multiple sits in its own 16-yr range · 34th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 16-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 | 62.2 | 66.5 | 62.8 | 65.0 | 79.5 | 70.7 | 65.4 | 62.7 |
| Gross Profit | 37.8 | 33.5 | 37.2 | 35.0 | 20.5 | 29.3 | 34.6 | 37.3 |
| R&D | 2.0 | 3.3 | 3.4 | 4.8 | 8.0 | 6.6 | 4.6 | 5.3 |
| SG&A | 5.8 | 9.3 | 7.1 | 8.6 | 13.6 | 12.1 | 7.6 | 9.5 |
| Operating Income | 18.8 | 4.4 | 13.7 | 5.6 | -21.4 | -6.4 | 5.4 | 8.6 |
| Income Tax | 0.6 | -2.7 | 3.8 | 0.7 | 2.1 | 0.1 | -1.5 | 0.3 |
| Net Income | 13.6 | 7.6 | 10.8 | 4.8 | -24.8 | -6.8 | 4.3 | 4.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TBCH: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-18
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 | $319.9M 100.0% | $372.8M 100.0% | $258.1M 100.0% | $240.2M 100.0% | $366.4M 100.0% | $360.1M 100.0% | $234.7M 100.0% | $287.4M 100.0% | $149.1M 100.0% | $174.0M 100.0% |
| Cost of Revenue | $200.6M 62.7% | $243.8M 65.4% | $182.6M 70.7% | $191.0M 79.5% | $238.0M 65.0% | $226.3M 62.8% | $155.9M 66.5% | $178.7M 62.2% | $98.1M 65.8% | $131.4M 75.5% |
| Gross Profit | $119.3M 37.3% | $129.0M 34.6% | $75.5M 29.3% | $49.2M 20.5% | $128.4M 35.0% | $133.8M 37.2% | $78.7M 33.5% | $108.7M 37.8% | $51.0M 34.2% | $42.6M 24.5% |
| Research & Development | $16.9M 5.3% | $17.3M 4.6% | $17.1M 6.6% | $19.1M 8.0% | $17.5M 4.8% | $12.3M 3.4% | $7.9M 3.3% | $5.6M 2.0% | $5.6M 3.7% | $8.3M 4.7% |
| Selling, General & Admin | $30.4M 9.5% | $28.4M 7.6% | $31.3M 12.1% | $32.6M 13.6% | $31.6M 8.6% | $25.6M 7.1% | $21.8M 9.3% | $16.7M 5.8% | $15.7M 10.5% | $19.6M 11.3% |
| Total Operating Expenses | $91.8M 28.7% | $109.0M 29.2% | $91.9M 35.6% | $100.7M 41.9% | $108.0M 29.5% | $84.6M 23.5% | $68.3M 29.1% | $54.7M 19.0% | $46.2M 31.0% | $120.3M 69.2% |
| Operating Income | $27.5M 8.6% | $20.0M 5.4% | -$16.4M -6.4% | -$51.5M -21.4% | $20.4M 5.6% | $49.2M 13.7% | $10.4M 4.4% | $54.0M 18.8% | $4.8M 3.2% | -$77.7M -44.7% |
| Interest Expense | $7.9M 2.5% | $8.3M 2.2% | $504K 0.2% | $1.2M 0.5% | $383K 0.1% | $467K 0.1% | $929K 0.4% | $5.3M 1.9% | $7.9M 5.3% | $7.4M 4.3% |
| Other Income (Expense), net | -$945K -0.3% | -$1.3M -0.3% | -$394K -0.2% | -$1.8M -0.7% | $101K 0.0% | $3.8M 1.0% | $2.2M 0.9% | -$7.8M -2.7% | $463K 0.3% | -$2.4M -1.4% |
| Pretax Income | $16.8M 5.3% | $10.7M 2.9% | -$17.3M -6.7% | -$54.5M -22.7% | $20.1M 5.5% | $52.5M 14.6% | $11.7M 5.0% | $40.9M 14.2% | -$2.7M -1.8% | -$87.6M -50.3% |
| Income Tax Expense | $1.1M 0.3% | -$5.5M -1.5% | $338K 0.1% | $5.1M 2.1% | $2.4M 0.7% | $13.7M 3.8% | -$6.2M -2.7% | $1.7M 0.6% | $593K 0.4% | -$387K -0.2% |
| Net Income | $15.7M 4.9% | $16.2M 4.3% | -$17.7M -6.8% | -$59.5M -24.8% | $17.7M 4.8% | $38.7M 10.8% | $17.9M 7.6% | $39.2M 13.6% | -$3.2M -2.2% | -$87.2M -50.1% |
| Per Share | ||||||||||
| EPS (Basic) | $0.78 | $0.81 | $-1.03 | $-3.62 | $1.11 | $2.62 | $1.24 | $2.90 | $-0.26 | $-7.18 |
| EPS (Diluted) | $0.77 | $0.78 | $-1.03 | $-3.62 | $0.97 | $2.37 | $1.04 | $2.74 | $-0.26 | $-7.18 |
| Weighted Avg Shares (Basic) | 20.3M | 20.0M | 17.1M | 20.3M | 15.9M | 14.8M | 14.5M | 13.5M | 12.3M | 12.1M |
| Weighted Avg Shares (Diluted) | 20.5M | 20.8M | 17.1M | 20.5M | 18.3M | 16.4M | 15.7M | 14.3M | 12.3M | 12.1M |
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.
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
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 | $11.27T | — | — | — | — | — | — | — | — | — | 3,121 |
| NVDA | $5.40T | 45.4× | 40.5× | 25.0× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.97T | 45.1× | 34.7× | 11.9× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.6× | 5,858 |
| MSFT | $3.67T | 27.5× | 19.4× | 11.1× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.2× | 5,944 |
| AVGO | $1.70T | 75.0× | 66.9× | 26.5× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.14T | 133.8× | 63.0× | 30.5× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $912.5B | 211.3× | 215.9× | 26.3× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| INTC | $542.3B | — | 67.3× | 10.3× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $433.7B | 43.0× | 36.4× | 7.7× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| PLTR | $424.8B | 282.0× | 294.0× | 94.9× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| DELL | $370.4B | 65.4× | 34.9× | 3.3× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| LRCX | $365.5B | 69.4× | 58.4× | 19.8× | 23.7% | 48.7% | 29.1% | 54.3% | 37.4% | 0.7× | 2,500 |
| AMAT | $352.5B | 51.3× | 40.5× | 12.4× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| RPAY | $340.5B | — | — | 1101.1× | -1.2% | 75.0% | -83.0% | -53.0% | -28.2% | -1.7× | 142 |
| UMC | $309.1B | — | — | — | — | — | — | — | — | — | 302 |
| ARM | $293.3B | 324.3× | 252.8× | 59.6× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| SNDK | $261.6B | — | — | 35.6× | 10.4% | 30.1% | -22.3% | -17.8% | -14.8% | -1.5× | 1,127 |
| SAP | $257.3B | — | — | — | — | — | — | — | — | — | 794 |
| ANET | $250.5B | 72.5× | 63.3× | 27.8× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | — | 1,930 |
| PANW | $242.9B | 227.2× | 151.7× | 26.3× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| TXN | $242.4B | 48.9× | 31.9× | 13.7× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.8× | 2,345 |
| CRM | $221.0B | 30.5× | 23.9× | 5.3× | 9.6% | 77.7% | 18.0% | 12.6% | 10.1% | 1.5× | 2,547 |
| IBM | $215.1B | 20.6× | — | 3.2× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| MRVL | $207.0B | 79.6× | 135.2× | 25.3× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 2.9× | 1,477 |
| QCOM | $190.9B | 35.5× | 14.3× | 4.3× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 1.1× | 2,611 |
| TBCH | $243M | 16.5× | 8.8× | 0.8× | -14.2% | 37.3% | 4.9% | 12.2% | 8.6% | 1.7× | 110 |
Peers = companies sharing TBCH'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.