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Insufficient data to determine institutional momentum.
Data as of Q2 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.
Ranked against 17 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PAYO | $2.4B | 37.6× | 10.5× | 2.3× | 7.7% | — | 7.0% | 10.4% | 10.4% | -2.2× | 298 |
| FLYW | $2.3B | 170.6× | 52.3× | 3.7× | 26.6% | — | 2.2% | 1.6% | 1.6% | -8.8× | 231 |
| TIC | $1.9B | — | 19.3× | 1.3× | 45.7% | 29.4% | -5.7% | -4.0% | -2.3% | 7.3× | — |
| WU | $1.9B | 4.0× | 4.5× | 0.5× | -3.8% | 37.0% | 12.3% | 52.2% | 13.0% | 2.1× | 472 |
| CNXC | $1.6B | — | — | 0.2× | 2.2% | 35.0% | -13.0% | -46.6% | -17.3% | — | 267 |
| NUTX | $1.4B | 19.7× | 4.3× | 1.6× | 82.4% | 50.8% | 8.1% | 21.5% | 19.0% | -0.5× | 149 |
| LQDT | $1.4B | 49.6× | 29.7× | 2.8× | 31.2% | 43.8% | 5.9% | 13.8% | 13.8% | 0.0× | 214 |
| RDWR | $1.3B | 68.8× | 51.9× | 4.3× | 9.8% | 80.7% | 6.7% | 5.8% | 5.8% | -4.5× | 133 |
| RSKD | $1.1B | — | — | 3.3× | 5.2% | 51.7% | -8.0% | -9.4% | -9.4% | — | 107 |
| AHG | $1.1B | 125.0× | — | 77.4× | -6.4% | -0.1% | -135% | -10.3% | -10.3% | — | 11 |
| ANDG | $1.1B | — | — | 1.3× | 14.6% | — | -0.3% | 1.7% | -1.1% | — | 87 |
| QNST | $900M | 11.2× | 21.7× | 0.7× | 18.3% | 11.3% | 6.3% | 25.1% | 20.7% | -1.5× | 208 |
| PAYS | $868M | 118.2× | 54.5× | 10.6× | 40.5% | 59.4% | 9.2% | 15.6% | 13.4% | -0.8× | 131 |
| CASS | $682M | 20.5× | — | 3.6× | 5.3% | — | 18.4% | 14.5% | 14.5% | — | 168 |
| PHR | $671M | 270.3× | 24.5× | 1.4× | 14.5% | — | 0.5% | 0.7% | 0.7% | -2.5× | 224 |
| PRTH | $644M | 11.5× | 7.9× | 0.7× | 8.3% | — | 5.8% | -55.5% | 5.9% | 4.7× | 131 |
| MAX | $535M | 25.9× | 28.6× | 0.5× | 28.8% | 15.0% | 2.3% | 616% | 16.3% | 4.8× | 151 |
| RMNI | $388M | 10.7× | 5.3× | 0.9× | -1.7% | 60.4% | 8.8% | -137% | 92.4% | -0.8× | 116 |
Peers = companies sharing ANDG's sector (Services-Business Services, NEC) 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.
Top 40 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
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (122%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $212.2M dividends + $0 buybacks = $212.2M returned on $174.3M 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -1%. 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.
EOD close · as of 2026-10-12
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 2% against ROIC -1% — 3% 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
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| SG&A | 17.9 | 18.0 | 21.1 |
| Operating Income | 18.3 | 17.7 | -16.1 |
| Income Tax | 0.4 | 0.3 | 0.4 |
| Net Income | 18.6 | 18.4 | -0.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ANDG: 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 $250.3M (at 2025-12-31) covers all $232.0M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~0.4% on $350.1M of debt.
Cash vs short-term debt unavailable.
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.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2023 | not reported | 18.3% | 18.6% |
| FY2024 | not reported | 17.7% | 18.4% |
| FY2025 | not reported | -16.1% | -0.3% |
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: wacc.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2026-06-30 (10-Q); cash from the 2025-12-31 balance sheet; FCF from FY2025.
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: ebitda.
At $56.82, free cash flow must compound 4.79%/yr for 10 years. It has done -51.24%/yr over 2 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2024 | 27.0% | 4.8% |
| FY2025 | −81.3% | 4.8% |
This is solved on free cash flow AFTER stock compensation ($95M against $144M before it). On the unadjusted figure the requirement would be -1.32%/yr. Which is right depends on whether you think the share issuance is a recurring cost of running the business.
EOD close · as of 2026-10-12
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 | $838.7M 100.0% | $731.6M 100.0% | $639.1M 100.0% |
| Selling, General & Admin | $176.7M 21.1% | $131.9M 18.0% | $114.7M 17.9% |
| Total Operating Expenses | $974.0M 116.1% | $602.0M 82.3% | $522.3M 81.7% |
| Operating Income | -$135.3M -16.1% | $129.5M 17.7% | $116.9M 18.3% |
| Interest Expense | $1.4M 0.2% | $64K 0.0% | $138K 0.0% |
| Interest & Investment Income | $4.2M 0.5% | $4.5M 0.6% | $2.7M 0.4% |
| Other Income (Expense), net | $5.4M 0.6% | $3.2M 0.4% | $1.6M 0.2% |
| Pretax Income | -$127.2M -15.2% | $137.2M 18.8% | $120.9M 18.9% |
| Income Tax Expense | $3.0M 0.4% | $2.4M 0.3% | $2.3M 0.4% |
| Net Income | -$2.3M -0.3% | $134.8M 18.4% | $118.7M 18.6% |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $57.66 today, the market must believe free cash flow compounds 3.7%/yr for a decade (off $94.6M on the SBC-adjusted basis).
On the basis ($143.7M) the requirement is -2.5%/yr. The difference is what charging stock compensation costs.
The market's 3.7% is more optimistic than its 2-yr track record.
Default is 11.5% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.02B shares (market data) · net debt $99.8M
mean -27.1% · volatility σ 77% · implied rate exceeded in 1/2 yrs
Central path = implied 3.7%/yr growth; shaded band = ±1σ (77%) 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.