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Institutional ownership roughly stable: +0.32% change 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.
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.
Top 29 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 |
| VHC | $50M | — | — | 311.3× | 3140% | — | -11250% | -81.1% | -81.1% | — | 28 |
Peers = companies sharing VHC'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.
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 | $162K 100.0% | $5K 100.0% | $7K 100.0% | $48K 100.0% | $35K 100.0% | $302.6M 100.0% | $85K 100.0% | $63K 100.0% | $1.5M 100.0% | $1.6M 100.0% |
| Research & Development | $5.7M 3490.1% | $6.0M 120760.0% | $9.7M 138757.1% | $6.4M 13345.8% | $5.6M 15934.3% | $8.8M 2.9% | $3.8M 4523.5% | $4.8M 7642.9% | $4.2M 268.8% | $4.2M 268.1% |
| Selling, General & Admin | $13.4M 8301.2% | $14.4M 287280.0% | $21.7M 310557.1% | $15.7M 32754.2% | $52.7M 150614.3% | $45.8M 15.1% | $15.9M 18711.8% | $20.7M 32865.1% | $14.7M 950.8% | $25.0M 1613.9% |
| Total Operating Expenses | $19.6M 12100.0% | $20.4M 408040.0% | $31.5M 449314.3% | $22.1M 46091.7% | $49.2M 140597.1% | $144.7M 47.8% | $19.8M 23235.3% | $25.5M 40507.9% | $18.9M 1219.7% | $30.1M 1939.0% |
| Operating Income | -$19.4M -12000.0% | -$20.4M -407940.0% | -$31.4M -449214.3% | -$22.1M -45991.7% | -$49.2M -140497.1% | $157.9M 52.2% | -$19.7M -23135.3% | -$25.5M -40407.9% | -$17.3M -1119.7% | -$28.5M -1839.0% |
| Other Income (Expense), net | — | — | — | — | — | — | — | — | $46K 3.0% | $69K 4.5% |
| Pretax Income | -$18.2M -11251.2% | -$18.2M -363440.0% | -$27.9M -399285.7% | -$20.2M -42141.7% | -$49.1M -140360.0% | $307.5M 101.6% | -$19.6M -23027.1% | -$25.4M -40322.2% | -$17.3M -1116.7% | -$28.4M -1834.6% |
| Income Tax Expense | -$2K -1.2% | $3K 60.0% | -$79K -1128.6% | $16.0M 33400.0% | -$6.2M -17728.6% | $27.0M 8.9% | -$393K -462.4% | $3K 4.8% | $3K 0.2% | $133K 8.6% |
| Net Income | -$18.2M -11250.0% | -$18.2M -363500.0% | -$27.9M -398157.1% | -$36.3M -75541.7% | -$42.9M -122631.4% | $280.4M 92.7% | -$19.2M -22564.7% | -$25.4M -40327.0% | -$17.3M -1116.9% | -$28.6M -1843.2% |
| Per Share | ||||||||||
| EPS (Basic) | $-5.00 | $-5.05 | $-7.79 | $-10.17 | $-0.60 | $3.96 | $-0.28 | — | — | — |
| EPS (Diluted) | $-5.00 | $-5.05 | $-7.79 | $-10.17 | $-0.60 | $3.92 | $-0.28 | — | — | — |
| Weighted Avg Shares (Basic) | 4K | 4K | 4K | 4K | 71.2M | 70.9M | 68.6M | — | — | — |
| Weighted Avg Shares (Diluted) | 4K | 4K | 4K | 4K | 71.2M | 71.6M | 68.6M | — | — | — |
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.
4/7 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).
Coverage data unavailable.
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 -$16M 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: -81%. 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).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
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 2026-09-18
No standout strengths flagged.
Nothing notable to watch.
Where each multiple sits in its own 14-yr range · 16th 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 |
|---|---|---|---|---|---|---|---|---|
| R&D | 7642.9 | 4523.5 | 2.9 | 15934.3 | 13345.8 | 138757.1 | 120760.0 | 3490.1 |
| SG&A | 32865.1 | 18711.8 | 15.1 | 150614.3 | 32754.2 | 310557.1 | 287280.0 | 8301.2 |
| Operating Income | -40407.9 | -23135.3 | 52.2 | -140497.1 | -45991.7 | -449214.3 | -407940.0 | -12000.0 |
| Income Tax | 4.8 | -462.4 | 8.9 | -17728.6 | 33400.0 | -1128.6 | 60.0 | -1.2 |
| Net Income | -40327.0 | -22564.7 | 92.7 | -122631.4 | -75541.7 | -398157.1 | -363500.0 | -11250.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VHC: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.