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Strong institutional accumulation: ownership increased +6.37% quarter-over-quarter.
Data as of Q1 2026
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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 | $798.7M 100.0% | $804.1M 100.0% | $889.6M 100.0% | $860.4M 100.0% | $546.1M 100.0% | $644.1M 100.0% | $597.5M 100.0% | $529.9M 100.0% | $529.2M 100.0% | $481.8M 100.0% |
| Selling, General & Admin | $42.1M 5.3% | $45.4M 5.6% | $33.3M 3.7% | $29.9M 3.5% | $29.1M 5.3% | $29.0M 4.5% | $27.7M 4.6% | $27.0M 5.1% | $26.3M 5.0% | $25.6M 5.3% |
| Total Operating Expenses | $546.4M 68.4% | $525.5M 65.4% | $498.1M 56.0% | $604.0M 70.2% | $666.0M 121.9% | $547.4M 85.0% | $511.6M 85.6% | $558.0M 105.3% | $465.7M 88.0% | $392.0M 81.4% |
| Operating Income | $252.3M 31.6% | $278.6M 34.6% | $391.5M 44.0% | $256.4M 29.8% | -$119.9M -21.9% | $96.7M 15.0% | $85.9M 14.4% | -$28.1M -5.3% | $63.5M 12.0% | $89.8M 18.6% |
| Interest Expense | $94.0M 11.8% | $113.3M 14.1% | $101.8M 11.4% | $55.5M 6.4% | $38.6M 7.1% | $49.6M 7.7% | $69.0M 11.5% | $71.9M 13.6% | $61.9M 11.7% | $37.4M 7.8% |
| Interest & Investment Income | $10.5M 1.3% | $15.1M 1.9% | $14.6M 1.6% | $2.0M 0.2% | $703K 0.1% | $1.1M 0.2% | $3.7M 0.6% | $2.5M 0.5% | $1.1M 0.2% | $623K 0.1% |
| Other Income (Expense), net | -$87.4M -10.9% | -$96.9M -12.1% | -$86.4M -9.7% | -$47.9M -5.6% | -$30.7M -5.6% | -$69.5M -10.8% | -$71.9M -12.0% | -$72.9M -13.8% | -$54.3M -10.3% | -$33.3M -6.9% |
| Net Income | $160.9M 20.1% | $176.2M 21.9% | $300.2M 33.7% | $204.2M 23.7% | -$151.4M -27.7% | $24.0M 3.7% | $15.1M 2.5% | -$99.2M -18.7% | $7.6M 1.4% | $55.8M 11.6% |
| Per Share | ||||||||||
| EPS (Basic) | $4.45 | $5.03 | $9.04 | $6.02 | $-9.53 | $-0.80 | — | — | — | — |
| EPS (Diluted) | $4.45 | $5.03 | $9.04 | $6.01 | $-9.53 | $-0.80 | — | — | — | — |
| Weighted Avg Shares (Basic) | 29.7M | 29.5M | 29.5M | 28.0M | 19.7M | 18.8M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 29.7M | 29.5M | 29.5M | 28.2M | 19.7M | 18.8M | — | — | — | — |
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.
4/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 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.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising 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.
Free-cash-flow coverage unavailable. Last year: $60M dividends + $0 buybacks = $60M returned on -$5M 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).
Insufficient data. Current ROIC on all capital: 4%. 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 $293M is below the $295M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~5.3% on $1.8B of debt.
Cash of $293M is below short-term debt of $295M — relies on refinancing/operations.
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.
No current price collected.
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 14.1× 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 | 5.1 | 4.6 | 4.5 | 5.3 | 3.5 | 3.7 | 5.6 | 5.3 |
| Operating Income | -5.3 | 14.4 | 15.0 | -21.9 | 29.8 | 44.0 | 34.6 | 31.6 |
| Net Income | -18.7 | 2.5 | 3.7 | -27.7 | 23.7 | 33.7 | 21.9 | 20.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TEN-PF: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.