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Data as of Q2 2026
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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 -$1.1M 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 3 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: 10%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
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.
Top 8 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
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
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 | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $20.2M 100.0% | $18.5M 100.0% | $18.6M 100.0% |
| Cost of Revenue | $15.2M 75.1% | $14.1M 76.2% | $15.1M 81.2% |
| Gross Profit | $5.0M 24.9% | $4.4M 23.8% | $3.5M 18.8% |
| Selling, General & Admin | $2.2M 10.8% | $1.9M 10.1% | $924K 5.0% |
| Total Operating Expenses | $3.7M 18.5% | $3.4M 18.1% | $2.1M 11.3% |
| Operating Income | $1.3M 6.4% | $1.0M 5.6% | $1.4M 7.5% |
| Other Income (Expense), net | $10K 0.0% | $7K 0.0% | $31K 0.2% |
| Pretax Income | $1.3M 6.6% | $1.0M 5.6% | $1.4M 7.6% |
| Income Tax Expense | $117K 0.6% | $95K 0.5% | — |
| Net Income | $1.2M 6.0% | $951K 5.1% | $1.4M 7.6% |
| Per Share | |||
| EPS (Basic) | $0.04 | $0.03 | $0.05 |
| EPS (Diluted) | $0.04 | $0.03 | $0.05 |
| Weighted Avg Shares (Basic) | 28.3M | 28.0M | 28.0M |
| Weighted Avg Shares (Diluted) | 28.3M | 28.0M | 28.0M |
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 2026-10-14
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 10% against ROIC 10% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 13.0% — the two diverge when buybacks or issuance move equity during the year.
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 2.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cost of Revenue | 81.2 | 76.2 | 75.1 |
| Gross Profit | 18.8 | 23.8 | 24.9 |
| SG&A | 5.0 | 10.1 | 10.8 |
| Operating Income | 7.5 | 5.6 | 6.4 |
| Income Tax | — | 0.5 | 0.6 |
| Net Income | 7.6 | 5.1 | 6.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AHMA: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $1.17 today, the market must believe free cash flow compounds 15.3%/yr for a decade (off $1.1M on the 3-yr avg basis).
Default is 11.4% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.03B shares (market data) · net debt -$2.9M
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.
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.
Ranked against 22 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DIS | $188.2B | 15.9× | 9.8× | 2.0× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.6× | 2,849 |
| WMG | $15.1B | — | 17.4× | 2.3× | 4.4% | 45.8% | 5.4% | 56.4% | 7.7% | 3.3× | 329 |
| TKO | $12.6B | 76.3× | 11.8× | 2.7× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.2× | 639 |
| DKNG | $9.4B | — | — | 1.6× | 27.0% | 41.3% | 0.1% | 0.6% | 0.6% | — | 681 |
| LTH | $9.0B | 24.2× | 13.2× | 3.0× | 14.3% | 47.6% | 12.5% | 12.0% | 8.1% | 1.7× | 351 |
| CHDN | $5.6B | — | 11.6× | 1.9× | 7.0% | — | 13.1% | 37.9% | 6.2% | 5.4× | 445 |
| MTN | $5.3B | 19.9× | 9.4× | 1.8× | 2.7% | — | 9.4% | 66.0% | 7.9% | 3.1× | 431 |
| MSGE | $3.7B | 57.3× | 20.3× | 3.5× | 12.5% | — | 6.2% | 145% | 10.7% | 1.4× | 407 |
| SPHR | $3.7B | 140.5× | 38.0× | 3.1× | 18.8% | — | 2.7% | 1.5% | 1.1% | 3.0× | — |
| PLNT | $3.5B | — | 11.1× | 2.7× | 12.1% | 82.6% | 16.5% | -45.4% | 11.0% | 4.2× | 410 |
| BATRA | $3.5B | — | 67.2× | 4.8× | 10.5% | — | -3.2% | -4.4% | -1.8% | 10.3× | 205 |
| OSW | $2.4B | 35.0× | 23.5× | 2.5× | 7.4% | — | 7.5% | 13.2% | 11.4% | 0.6× | 243 |
| RSI | $2.1B | 59.6× | 14.1× | 1.9× | 22.8% | 34.6% | 2.9% | 22.6% | 22.6% | -2.6× | 295 |
| BRSL | $1.7B | 12.9× | — | 0.7× | -0.0% | — | 5.9% | 16.8% | 2.9% | — | — |
| GENI | $1.6B | — | — | 2.5× | 31.0% | 23.0% | -16.7% | -15.4% | -15.4% | — | 268 |
| PRKS | $1.5B | 10.6× | 6.8× | 0.9× | -3.6% | — | 10.1% | -38.6% | 9.4% | 4.0× | 232 |
| PRSU | $1.5B | 66.7× | — | 3.2× | 23.4% | 92.3% | 5.0% | 3.9% | 3.3% | — | 200 |
| FUN | $915M | — | — | 0.3× | 14.4% | 91.3% | -51.6% | -291% | -27.9% | — | 311 |
| ACEL | $904M | 18.6× | 7.6× | 0.7× | 8.1% | — | 3.9% | 19.1% | 5.9% | 1.9× | 164 |
| RSVR | $635M | 74.1× | 27.7× | 3.6× | 10.7% | 64.7% | 4.7% | 2.2% | 1.0% | 11.2× | 83 |
| FBYD | $399M | 274.3× | — | 26.8× | 121% | — | 42.4% | 52.9% | 24.5% | — | 59 |
| BUKS | $296M | 13.7× | 8.7× | 3.0× | 16.7% | — | 22.4% | 26.8% | 19.7% | -0.2× | 2 |
| AHMA | $35M | 29.3× | 23.0× | 1.7× | 9.1% | 24.9% | 6.0% | 9.8% | 9.8% | -2.1× | 8 |
Peers = companies sharing AHMA's sector (Services-Amusement & Recreation Services) 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 0.2pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2023 | 23.5% | 11.4% (today's — no rate published for this year) | 12.1pts |
| FY2024 | 16.3% | 11.4% (today's — no rate published for this year) | 4.9pts |
| FY2025 | 11.6% | 11.4% (today's — no rate published for this year) | 0.2pts |
| Now | 9.8% | 11.4% | -1.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2023 | 18.8% | 7.5% | 7.6% |
| FY2024 | 23.8% | 5.6% | 5.1% |
| FY2025 | 24.9% | 6.4% | 6.0% |
Return on equity (10%) and return on invested capital (10%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
The spread is 0.2pts and would invert under a ±2% move in WACC, so the verdict rests on the cost-of-capital assumption rather than on the business.
Cash conversion of 0.05x sits below the level that would make the earnings clearly cash-backed.
Only 3 profitable years available, so the average is shorter than the five the threshold assumes.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2025-12-31. 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 $1.17, free cash flow must compound 15.31%/yr for 10 years. It has no positive compounding record to compare against.
The implied rate of 15.31% has not been achieved in any of the last 1 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1M | $1M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | −$726,638 | $496,518 |
| Operating cash flow | $496,518 | $496,518 |
| Capex | −$2M | −$1M |
| Free cash flow | −$1M | −$1M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2024 | -0.4% | not reported | not reported |
| FY2025 | 9.1% | -14.7% | -23.8 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2023 | not reported | not reported | not reported | not reported |
| FY2024 | 96.6 days | not reported | 74.3 days | 22.3 days |
| FY2025 | 75.5 days | not reported | 20.2 days | 55.4 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2023 | not reported |
| FY2024 | -2.2 percent |
| FY2025 | 4.8 percent |