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Data as of Q3 2026
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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 25 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
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2021, FY2022, FY2023). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $88.05 today, the market must believe free cash flow compounds 25.6%/yr for a decade (off $2.19B on the 3-yr avg basis).
On the basis ($2.12B) the requirement is 26.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 25.6% is more optimistic than its 9-yr track record.
Default is 10.0% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 1.81B shares (market data) · net debt $1.42B
mean 62.0% · volatility σ 201% · implied rate exceeded in 2/9 yrs
Central path = implied 25.6%/yr growth; shaded band = ±1σ (201%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
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.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 49% of free cash flow, leaving room to grow it and fund buybacks. Last year: $1.71B dividends + $1.26B buybacks = $2.97B returned on $3.52B FCF.
4 consecutive years of dividend increases · 2%/yr.
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: 20%. 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.
EOD close · as of 2026-11-03
How a revenue dollar becomes profit — FY2023
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $32.23B 100.0% | $29.45B 100.0% | $28.95B 100.0% | $26.13B 100.0% | $27.98B 100.0% | $27.66B 100.0% | $25.20B 100.0% | $24.93B 100.0% | $35.48B 100.0% | $39.83B 100.0% |
| Cost of Revenue | $21.02B 65.2% | $19.74B 67.0% | $19.48B 67.3% | $18.26B 69.9% | $19.07B 68.2% | $19.12B 69.1% | $17.35B 68.9% | $17.40B 69.8% | $25.35B 71.4% | $28.61B 71.8% |
| Cost of Products | — | — | — | — | — | — | $20.31B 80.6% | $20.43B 82.0% | $21.69B 61.1% | $24.51B 61.5% |
| Cost of Services | — | — | — | — | — | — | $3.73B 14.8% | $3.65B 14.6% | $3.65B 10.3% | $4.11B 10.3% |
| Gross Profit | $11.21B 34.8% | $9.71B 33.0% | $9.47B 32.7% | $7.88B 30.1% | $8.91B 31.8% | $8.54B 30.9% | $7.85B 31.1% | $7.53B 30.2% | $10.13B 28.6% | $11.21B 28.2% |
| Research & Development | $1.32B 4.1% | $1.17B 4.0% | $1.22B 4.2% | $1.13B 4.3% | $1.20B 4.3% | $1.15B 4.1% | $1.01B 4.0% | $967.0M 3.9% | $1.41B 4.0% | $1.50B 3.8% |
| Selling, General & Admin | $5.54B 17.2% | $5.13B 17.4% | $5.16B 17.8% | $4.89B 18.7% | $5.45B 19.5% | $5.29B 19.1% | $4.76B 18.9% | $4.53B 18.2% | $5.57B 15.7% | $6.07B 15.2% |
| Operating Income | $4.87B 15.1% | $3.34B 11.3% | $5.72B 19.8% | $1.59B 6.1% | $1.94B 6.9% | $2.23B 8.0% | $2.23B 8.9% | $1.93B 7.7% | $3.05B 8.6% | $4.18B 10.5% |
| Other Income (Expense), net | $36.0M 0.1% | -$57.0M -0.2% | -$34.0M -0.1% | -$20.0M -0.1% | — | — | — | — | — | — |
| Pretax Income | $4.78B 14.8% | $3.39B 11.5% | $5.79B 20.0% | $841.0M 3.2% | $1.86B 6.7% | $2.12B 7.7% | $2.10B 8.3% | $1.76B 7.1% | $2.84B 8.0% | $3.90B 9.8% |
| Income Tax Expense | $930.0M 2.9% | $757.0M 2.6% | $1.06B 3.7% | $496.0M 1.9% | $772.0M 2.8% | $544.0M 2.0% | $583.0M 2.3% | $526.0M 2.1% | $788.0M 2.2% | $1.20B 3.0% |
| Net Income | $3.82B 11.9% | $2.59B 8.8% | $4.65B 16.1% | $5.21B 19.9% | $1.53B 5.5% | $2.30B 8.3% | $2.37B 9.4% | $2.03B 8.2% | $2.06B 5.8% | $2.72B 6.8% |
| Per Share | ||||||||||
| EPS (Basic) | $2.02 | $1.30 | $2.27 | $2.44 | $0.67 | $1.02 | $1.04 | $0.88 | $0.87 | $1.13 |
| EPS (Diluted) | $2.01 | $1.30 | $2.25 | $2.43 | $0.67 | $1.02 | $1.03 | $0.88 | $0.87 | $1.13 |
| Weighted Avg Shares (Basic) | 1.85B | 1.90B | 2.00B | 2.11B | 2.13B | 2.13B | 2.14B | 2.15B | 2.23B | 2.29B |
| Weighted Avg Shares (Diluted) | 1.87B | 1.91B | 2.02B | 2.12B | 2.13B | 2.14B | 2.15B | 2.15B | 2.23B | 2.29B |
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.
EOD close · as of 2026-11-03
Where each multiple sits in its own 12-yr range · 100th 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?
FY2023 · every deduction from revenue to net income
DuPont — the three levers
ROE 29% against ROIC 20% — 8% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 4.9× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 69.8 | 68.9 | 69.1 | 68.2 | 69.9 | 67.3 | 67.0 | 65.2 |
| Gross Profit | 30.2 | 31.1 | 30.9 | 31.8 | 30.1 | 32.7 | 33.0 | 34.8 |
| R&D | 3.9 | 4.0 | 4.1 | 4.3 | 4.3 | 4.2 | 4.0 | 4.1 |
| SG&A | 18.2 | 18.9 | 19.1 | 19.5 | 18.7 | 17.8 | 17.4 | 17.2 |
| Operating Income | 7.7 | 8.9 | 8.0 | 6.9 | 6.1 | 19.8 | 11.3 | 15.1 |
| Income Tax | 2.1 | 2.3 | 2.0 | 2.8 | 1.9 | 3.7 | 2.6 | 2.9 |
| Net Income | 8.2 | 9.4 | 8.3 | 5.5 | 19.9 | 16.1 | 8.8 | 11.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ABBNY: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $3.89B covers the $2.51B due within a year 1.6× over. Scheduled principal only (excludes interest & revolver draws). As of 2023-12-31 (20-F).
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 of $3.89B fully covers short-term debt of $2.61B.
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.
Ranked against 30 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | $4.99T | 42.2× | 37.5× | 23.1× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | -0.0× | 2,265 |
| AVGO | $1.59T | 69.6× | 62.7× | 24.8× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 1.9× | 1,785 |
| MU | $967.5B | 11.5× | 8.6× | 7.3× | 256% | 80.7% | 63.8% | 61.4% | 60.0% | -0.3× | 1,415 |
| AMD | $790.0B | 182.6× | 186.9× | 22.8× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | -0.6× | 1,487 |
| GE | $332.7B | 39.4× | — | 7.3× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 1,183 |
| INTC | $321.8B | — | 41.5× | 6.1× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 3.8× | 1,283 |
| AMAT | $303.1B | 44.1× | 34.9× | 10.7× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | -0.1× | 1,159 |
| TXN | $285.7B | 57.3× | 37.3× | 16.2× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.4× | 979 |
| GEV | $243.0B | 51.9× | 121.5× | 6.4× | 9.0% | 19.8% | 12.8% | 43.7% | 42.4% | 0.2× | 1,179 |
| ARM | $216.3B | 238.2× | 185.8× | 44.0× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | -2.4× | 257 |
| APH | $207.9B | 25.2× | 31.3× | 9.0× | 51.7% | 36.9% | 18.5% | 31.8% | 14.8% | 0.6× | 761 |
| ADI | $203.4B | 92.1× | 62.7× | 18.5× | 16.9% | 61.5% | 20.6% | 6.7% | 5.3% | 1.8× | 747 |
| QCOM | $175.6B | 32.8× | 13.3× | 4.0× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 0.7× | 1,051 |
| ABBNY | $159.0B | 43.8× | 28.4× | 4.9× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.3× | 15 |
| MRVL | $154.7B | 56.0× | 101.4× | 18.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 1.2× | 743 |
| EMR | $92.8B | 41.2× | 23.0× | 5.2× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | 2.9× | 838 |
| VRT | $90.9B | 69.2× | 43.0× | 8.9× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 0.6× | 609 |
| MSI | $81.3B | 38.5× | 26.1× | 7.0× | 8.0% | 51.7% | 18.4% | 89.4% | 18.6% | 2.3× | 450 |
| NXPI | $66.2B | 33.1× | 19.4× | 5.4× | -2.7% | 54.7% | 16.5% | 20.1% | 9.1% | 2.3× | 353 |
| MPWR | $64.8B | 103.3× | 81.6× | 23.2× | 26.4% | 55.2% | 22.3% | 17.6% | 17.6% | -1.4× | 343 |
| BE | $63.2B | — | — | 31.3× | 37.3% | 29.0% | -4.3% | -11.3% | -2.6% | 1.3× | 397 |
| LITE | $61.7B | — | 93.8× | 20.5× | 83.2% | 41.7% | -230% | -149% | -110% | -0.6× | 380 |
| STM | $43.4B | 269.7× | 22.1× | 3.7× | -11.1% | 33.9% | 1.4% | 0.9% | 0.8% | -0.4× | 141 |
| CIEN | $42.6B | 353.0× | 142.5× | 8.9× | 18.8% | 42.0% | 2.6% | 4.5% | 2.9% | 1.5× | 296 |
| MCHP | $42.3B | 354.1× | 40.3× | 9.0× | 7.1% | 57.7% | 4.9% | 3.6% | 1.9% | 4.5× | 378 |
Peers = companies sharing ABBNY's sector (Switchgear & Switchboard Apparatus) 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.
Earns 13.46pts above its cost of capital, but net margin has stepped down from 1991.66% to 1186.29% over 3 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2017 | 10.0% | 10.0% (today's — no rate published for this year) | -0.0pts |
| FY2018 | 9.8% | 10.0% (today's — no rate published for this year) | -0.3pts |
| FY2019 | 8.0% | 10.0% (today's — no rate published for this year) | -2.0pts |
| FY2020 | 6.7% | 10.0% (today's — no rate published for this year) | -3.4pts |
| FY2021 | 26.4% | 10.0% (today's — no rate published for this year) | 16.4pts |
| FY2022 | 15.8% | 10.0% (today's — no rate published for this year) | 5.8pts |
| FY2023 | 23.5% | 10.0% (today's — no rate published for this year) | 13.5pts |
| Now | 20.4% | 10.0% | 10.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2014 | 28.2% | 10.5% | 6.8% |
| FY2015 | 28.6% | 8.6% | 5.8% |
| FY2016 | 30.2% | 7.7% | 8.2% |
| FY2017 | 31.1% | 8.9% | 9.4% |
| FY2018 | 30.9% | 8.0% | 8.3% |
| FY2019 | 31.8% | 6.9% | 5.5% |
| FY2020 | 30.1% | 6.1% | 19.9% |
| FY2021 | 32.7% | 19.8% | 16.1% |
| FY2022 | 33.0% | 11.3% | 8.8% |
| FY2023 | 34.8% | 15.1% | 11.9% |
Leverage and buybacks account for 8 points of the 29% return on equity in FY2023. The business earns 20% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
Net margin is 1186.29% against 1991.66% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Cash conversion of 0.58x sits below the level that would make the earnings clearly cash-backed.
Capex has been below depreciation for 7 consecutive years (0.88x on average over the last 5). Spending less than the asset base is consuming flatters free cash flow now and defers the cost — though depreciation also covers amortisation of acquired intangibles, which capex is not meant to replace.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2023-12-31, 1039 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2023-12-31 (20-F); cash from the 2023-12-31 balance sheet; FCF from FY2023.
Balance sheet at 2023-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $88.05, free cash flow must compound 25.73%/yr for 10 years. It has done 2.43%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2018 | −29.4% | 25.7% |
| FY2019 | −27.4% | 25.7% |
| FY2020 | −36.1% | 25.7% |
| FY2021 | 151.3% | 25.7% |
| FY2022 | −79.1% | 25.7% |
| FY2023 | 570.5% | 25.7% |
The implied rate has been matched or beaten in 2 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $3.82B | $3.82B |
| Share-based comp | $103M | $3.93B |
| Other non-cash & working capital | $363M | $4.29B |
| Operating cash flow | $4.29B | $4.29B |
| Capex | −$770M | $3.52B |
| Free cash flow | $3.52B | $3.52B |
| FCF after SBC | $3.42B | $3.42B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2018 | 9.8% | not reported | not reported |
| FY2019 | 1.1% | not reported | not reported |
| FY2020 | -6.6% | not reported | not reported |
| FY2021 | 10.8% | not reported | not reported |
| FY2022 | 1.7% | not reported | not reported |
| FY2023 | 9.5% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2017 | -3.3 percent |
| FY2018 | -1.4 percent |
| FY2019 | -1.7 percent |
| FY2020 | 8.6 percent |
| FY2021 | 3.3 percent |
| FY2022 | 3.3 percent |
| FY2023 | -1.1 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 7 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2023) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.