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Institutional distribution: ownership decreased -0.50% 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 $0.33 today, the market must believe free cash flow compounds -14.5%/yr for a decade (off $10M normalized FCF).
The market's -14.5% is more conservative than its 7-yr track record.
2-stage DCF · 0.14B shares · net debt -$3M
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.
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 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $10M 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: 8%. 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 $0 due within a year 17053000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2018-03-31 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~25.3% on $15M of debt.
Cash of $17M fully covers short-term debt of $4M.
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 2026-09-17
No material risks flagged.
Where each multiple sits in its own 14-yr range · 10th 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 | 39.8 | 34.3 | 35.5 | 41.2 | 44.6 | 39.2 | 41.8 | 37.1 |
| Gross Profit | 60.2 | 65.7 | 64.5 | 58.8 | 55.4 | 60.8 | 58.2 | 62.9 |
| R&D | 2.4 | 1.4 | 1.2 | 1.6 | 1.6 | 1.5 | 2.0 | 1.6 |
| SG&A | 19.8 | 26.8 | 25.3 | 26.1 | 26.7 | 28.3 | 24.5 | 21.9 |
| Operating Income | -83.2 | -3.5 | -1.4 | -7.0 | -11.7 | -11.1 | -10.3 | 5.4 |
| Income Tax | — | 0.2 | 0.6 | — | 0.1 | -1.9 | 0.2 | 1.5 |
| Net Income | -97.1 | -12.7 | -13.2 | -8.8 | -14.6 | 0.0 | -0.0 | 0.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on XTNT: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-09-17
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 | $133.9M 100.0% | $117.3M 100.0% | $91.3M 100.0% | $58.0M 100.0% | $55.3M 100.0% | $53.3M 100.0% | $64.7M 100.0% | $72.2M 100.0% | $82.6M 100.0% | $90.0M 100.0% |
| Cost of Revenue | $49.7M 37.1% | $49.1M 41.8% | $35.8M 39.2% | $25.8M 44.6% | $22.8M 41.2% | $18.9M 35.5% | $22.2M 34.3% | $28.7M 39.8% | $32.5M 39.4% | $27.7M 30.8% |
| Gross Profit | $84.3M 62.9% | $68.2M 58.2% | $55.5M 60.8% | $32.1M 55.4% | $32.5M 58.8% | $34.4M 64.5% | $42.5M 65.7% | $43.5M 60.2% | $50.1M 60.6% | $62.3M 69.2% |
| Research & Development | $2.1M 1.6% | $2.4M 2.0% | $1.3M 1.5% | $915K 1.6% | $870K 1.6% | $657K 1.2% | $932K 1.4% | $1.7M 2.4% | $2.4M 3.0% | $3.4M 3.8% |
| Selling, General & Admin | $29.4M 21.9% | $28.7M 24.5% | $25.9M 28.3% | $15.5M 26.7% | $14.4M 26.1% | $13.5M 25.3% | $17.3M 26.8% | $14.3M 19.8% | $15.2M 18.5% | $15.8M 17.5% |
| Total Operating Expenses | $77.0M 57.5% | $80.3M 68.5% | $65.6M 71.9% | $38.9M 67.1% | $36.3M 65.8% | $35.1M 65.9% | $44.8M 69.2% | $103.6M 143.4% | $87.9M 106.4% | $69.8M 77.6% |
| Operating Income | $7.3M 5.4% | -$12.1M -10.3% | -$10.2M -11.1% | -$6.8M -11.7% | -$3.9M -7.0% | -$751K -1.4% | -$2.3M -3.5% | -$60.1M -83.2% | -$37.8M -45.8% | -$7.5M -8.4% |
| Interest Expense | $3.7M 2.7% | $4.2M 3.5% | $2.9M 3.2% | $1.7M 2.9% | $995K 1.8% | $6.0M 11.2% | $5.8M 8.9% | $10.1M 14.1% | $14.7M 17.8% | $12.3M 13.6% |
| Interest & Investment Income | $94K 0.1% | — | $149K 0.2% | $31K 0.1% | — | — | — | — | — | — |
| Other Income (Expense), net | -$283K -0.2% | -$4.2M -3.6% | $9.1M 10.0% | -$1.7M -2.9% | -$995K -1.8% | -$6.0M -11.2% | -$5.9M -9.1% | -$10.0M -13.9% | -$14.6M -17.6% | -$11.9M -13.2% |
| Pretax Income | $7.0M 5.2% | -$16.3M -13.9% | -$1.0M -1.1% | -$8.4M -14.5% | -$4.8M -8.8% | -$6.7M -12.6% | -$8.1M -12.6% | -$70.1M -97.1% | -$52.4M -63.4% | -$19.4M -21.6% |
| Income Tax Expense | $2.0M 1.5% | $187K 0.2% | -$1.7M -1.9% | $69K 0.1% | — | $296K 0.6% | $98K 0.2% | — | $0 0.0% | $50K 0.1% |
| Net Income | $5K 0.0% | -$16K -0.0% | $660 0.0% | -$8.5M -14.6% | -$4.8M -8.8% | -$7.0M -13.2% | -$8.2M -12.7% | -$70.1M -97.1% | -$52.4M -63.4% | -$19.5M -21.7% |
| Per Share | ||||||||||
| EPS (Basic) | $0.04 | $-0.12 | $0.01 | $-0.09 | $-0.06 | $-0.25 | $-0.63 | $-5.97 | $-34.76 | $-18.46 |
| EPS (Diluted) | $0.03 | $-0.12 | $0.01 | $-0.09 | $-0.06 | $-0.25 | $-0.63 | $-5.97 | $-34.76 | $-18.46 |
| Weighted Avg Shares (Basic) | 139.5M | 133.7M | 119.1M | 94.1M | 85.5M | 28.5M | 13.2M | 11.7M | 1.5M | 1.1M |
| Weighted Avg Shares (Diluted) | 150.0M | 133.7M | 126.8M | 94.1M | 85.5M | 28.5M | 13.2M | 11.7M | 1.5M | 1.1M |
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 34 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 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 |
| XTNT | $46M | 11.0× | 3.5× | 0.3× | 14.2% | 62.9% | 3.7% | 9.8% | 7.6% | 1.2× | 34 |
Peers = companies sharing XTNT'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.