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Held by 163 of 5,944 reporting institutions (90th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $17.04 today, the market must believe free cash flow compounds -21.1%/yr for a decade (off $238M normalized FCF).
2-stage DCF · 0.05B shares · net debt -$168M
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 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 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
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/7 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.
Earnings are backed by cash (FCF ≥ net income) — high quality. 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 $238M 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).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 36%. 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.
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.
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 | $107.5M 100.0% | $64.4M 100.0% | $57.4M 100.0% | $51.3M 100.0% | $55.3M 100.0% | $71.9M 100.0% | $73.4M 100.0% | $60.4M 100.0% | $15.4M 100.0% | $48.6M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | — | $6.0M 39.2% | $2.9M 5.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $6.0M 39.2% | $2.9M 5.9% |
| Research & Development | $37.4M 34.8% | $37.6M 58.5% | $40.6M 70.7% | $63.4M 123.5% | $193.7M 350.1% | $261.0M 363.2% | $219.2M 298.6% | $201.3M 333.5% | $173.9M 1130.2% | $141.7M 291.3% |
| Selling, General & Admin | $73.7M 68.5% | $69.2M 107.4% | $70.1M 122.1% | $67.1M 130.6% | $99.3M 179.5% | $108.5M 151.0% | $106.1M 144.5% | $97.1M 160.8% | $95.6M 621.3% | $84.5M 173.7% |
| Total Operating Expenses | $111.1M 103.4% | $111.3M 172.9% | $113.5M 197.6% | $143.3M 279.1% | $313.1M 566.1% | $369.5M 514.2% | $325.3M 443.1% | $299.1M 495.5% | $275.5M 1790.6% | $229.1M 471.0% |
| Operating Income | -$3.6M -3.4% | -$46.9M -72.9% | -$56.0M -97.6% | -$92.0M -179.1% | -$257.8M -466.1% | -$297.6M -414.2% | -$251.9M -343.1% | -$238.8M -395.5% | -$260.1M -1690.6% | -$180.5M -371.0% |
| Interest Expense | $2.5M 2.3% | $2.5M 4.0% | $2.4M 4.1% | $6.4M 12.4% | $8.5M 15.5% | $8.5M 11.9% | $31.9M 43.4% | $10.5M 17.4% | $8.5M 55.6% | $1.4M 2.9% |
| Other Income (Expense), net | $10.2M 9.5% | $4.9M 7.6% | $9.1M 15.9% | $8.5M 16.6% | $1.1M 2.0% | $2.8M 3.9% | $8.4M 11.4% | $12.0M 19.8% | $4.8M 31.1% | $1.3M 2.7% |
| Pretax Income | $129.2M 120.3% | -$44.6M -69.3% | -$49.3M -85.8% | -$92.8M -180.8% | -$265.2M -479.5% | -$303.3M -422.1% | -$241.7M -329.2% | -$226.1M -374.5% | -$271.7M -1766.0% | -$180.6M -371.2% |
| Income Tax Expense | $23.4M 21.7% | $11.8M 18.3% | $5.9M 10.3% | $9K 0.0% | -$151K -0.3% | -$8.5M -11.9% | -$5.2M -7.1% | -$10.6M -17.5% | $13.7M 89.0% | $10.1M 20.8% |
| Net Income | $105.9M 98.5% | -$56.4M -87.6% | -$55.2M -96.1% | $872.1M 1698.5% | -$199.4M -360.6% | -$278.0M -386.9% | -$236.5M -322.1% | -$215.5M -357.0% | -$285.4M -1855.0% | -$190.7M -391.9% |
| Per Share | ||||||||||
| EPS (Basic) | $2.10 | $-1.15 | $-1.00 | $11.85 | $-2.87 | $-4.46 | $-4.25 | — | — | — |
| EPS (Diluted) | $2.06 | $-1.15 | $-1.00 | $11.85 | $-2.87 | $-4.46 | $-4.25 | — | — | — |
| Weighted Avg Shares (Basic) | 50.3M | 48.8M | 55.3M | 73.6M | 69.5M | 62.3M | 55.6M | 55.1M | 53.7M | — |
| Weighted Avg Shares (Diluted) | 51.5M | 48.8M | 55.3M | 73.6M | 69.5M | 62.3M | 55.6M | 54.0M | 52.4M | — |
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.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 12-yr range · 35th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-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
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 |
|---|---|---|---|---|---|---|---|---|
| R&D | 333.5 | 298.6 | 363.2 | 350.1 | 123.5 | 70.7 | 58.5 | 34.8 |
| SG&A | 160.8 | 144.5 | 151.0 | 179.5 | 130.6 | 122.1 | 107.4 | 68.5 |
| Operating Income | -395.5 | -343.1 | -414.2 | -466.1 | -179.1 | -97.6 | -72.9 | -3.4 |
| Income Tax | -17.5 | -7.1 | -11.9 | -0.3 | 0.0 | 10.3 | 18.3 | 21.7 |
| Net Income | -357.0 | -322.1 | -386.9 | -360.6 | 1698.5 | -96.1 | -87.6 | 98.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TBPH: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| TBPH | $870M | 8.3× | — | 8.1× | 66.9% | — | 98.5% | 35.7% | 35.7% | — | 163 |
Peers = companies sharing TBPH'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.