Loading institutional data...
Loading institutional data...
Insufficient data to determine institutional momentum.
Data as of Q1 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading quality & risk...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Top 1 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 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.
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 | $89.1M 100.0% | $86.8M 100.0% | $81.0M 100.0% | $79.3M 100.0% | $75.6M 100.0% | $69.8M 100.0% | $75.5M 100.0% | $74.0M 100.0% | $72.8M 100.0% | $72.6M 100.0% |
| Cost of Revenue | $34.4M 38.6% | $34.7M 40.0% | $30.4M 37.6% | $31.4M 39.6% | $32.4M 42.9% | $31.3M 44.8% | $33.1M 43.8% | $32.9M 44.4% | $32.1M 44.0% | $31.1M 42.8% |
| Cost of Products | — | — | — | — | — | — | — | — | $1.3M 1.8% | $1.8M 2.4% |
| Cost of Services | — | — | — | — | — | — | — | — | $5.8M 8.0% | $6.2M 8.5% |
| Gross Profit | $54.7M 61.4% | $52.0M 60.0% | $50.6M 62.4% | $47.9M 60.4% | $43.1M 57.1% | $38.6M 55.2% | $42.4M 56.2% | $41.1M 55.6% | $40.7M 56.0% | $41.5M 57.2% |
| Research & Development | $728K 0.8% | $851K 1.0% | $755K 0.9% | $605K 0.8% | $1.7M 2.3% | $745K 1.1% | $813K 1.1% | $886K 1.2% | $945K 1.3% | $530K 0.7% |
| Selling, General & Admin | $52.2M 58.6% | $49.0M 56.5% | $45.1M 55.6% | $40.8M 51.5% | $38.6M 51.1% | $37.1M 53.0% | $41.0M 54.3% | $44.0M 59.4% | $43.6M 59.9% | $39.4M 54.3% |
| Total Operating Expenses | $57.6M 64.6% | $51.8M 59.7% | $46.4M 57.3% | $41.4M 52.3% | $40.3M 53.3% | $37.8M 54.1% | $41.8M 55.4% | $44.8M 60.6% | $44.6M 61.2% | $39.9M 55.0% |
| Operating Income | -$2.9M -3.2% | $285K 0.3% | $4.2M 5.2% | $6.5M 8.1% | $2.8M 3.7% | $772K 1.1% | $591K 0.8% | -$3.7M -5.0% | -$3.8M -5.3% | $1.6M 2.2% |
| Interest Expense | $25K 0.0% | $4K 0.0% | $50K 0.1% | $44K 0.1% | $312K 0.4% | $701K 1.0% | $993K 1.3% | $750K 1.0% | $674K 0.9% | $650K 0.9% |
| Interest & Investment Income | $790K 0.9% | $1.0M 1.2% | $764K 0.9% | — | — | — | — | — | — | — |
| Other Income (Expense), net | $1.6M 1.8% | $992K 1.1% | $710K 0.9% | $97K 0.1% | $3.4M 4.5% | -$415K -0.6% | -$862K -1.1% | -$395K -0.5% | -$573K -0.8% | -$463K -0.6% |
| Pretax Income | -$1.3M -1.5% | $1.3M 1.5% | $4.9M 6.1% | $6.6M 8.3% | $6.3M 8.3% | $357K 0.5% | -$271K -0.4% | -$4.1M -5.6% | -$4.4M -6.1% | $1.1M 1.5% |
| Income Tax Expense | -$2.9M -3.2% | $326K 0.4% | $100K 0.1% | -$4.7M -6.0% | $151K 0.2% | $1K 0.0% | $111K 0.1% | -$385K -0.5% | $134K 0.2% | $281K 0.4% |
| Net Income | $1.6M 1.8% | $951K 1.1% | $4.8M 5.9% | $11.3M 14.2% | $6.1M 8.1% | $358K 0.5% | -$382K -0.5% | -$3.7M -5.0% | -$4.5M -6.2% | $820K 1.1% |
| Per Share | ||||||||||
| EPS (Basic) | $0.01 | $0.01 | $0.03 | $0.07 | $0.04 | $0.00 | $0.00 | $-0.02 | — | — |
| EPS (Diluted) | $0.01 | $0.01 | $0.03 | $0.06 | — | $0.00 | $0.00 | $-0.02 | — | — |
| Weighted Avg Shares (Basic) | 175.8M | 175.4M | 174.4M | 173.1M | 172K | 170K | 168K | 165K | 162.2M | 159.1M |
| Weighted Avg Shares (Diluted) | 176.0M | 175.6M | 175.5M | 174.7M | 173.8M | 171K | 168K | 165K | 162.2M | 159.4M |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
7/8 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 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 + $0 buybacks = $0 returned.
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.
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 $35M covers all $11M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2018-12-31 (10-K).
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.
EOD close · as of 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 76th pct blended
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
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 | 44.4 | 43.8 | 44.8 | 42.9 | 39.6 | 37.6 | 40.0 | 38.6 |
| Gross Profit | 55.6 | 56.2 | 55.2 | 57.1 | 60.4 | 62.4 | 60.0 | 61.4 |
| R&D | 1.2 | 1.1 | 1.1 | 2.3 | 0.8 | 0.9 | 1.0 | 0.8 |
| SG&A | 59.4 | 54.3 | 53.0 | 51.1 | 51.5 | 55.6 | 56.5 | 58.6 |
| Operating Income | -5.0 | 0.8 | 1.1 | 3.7 | 8.1 | 5.2 | 0.3 | -3.2 |
| Income Tax | -0.5 | 0.1 | 0.0 | 0.2 | -6.0 | 0.1 | 0.4 | -3.2 |
| Net Income | -5.0 | -0.5 | 0.5 | 8.1 | 14.2 | 5.9 | 1.1 | 1.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VASO: 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.
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 |
| VASO | $51M | 29.0× | — | 0.6× | 2.7% | 61.4% | 1.8% | 5.3% | 5.3% | — | 1 |
Peers = companies sharing VASO'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.