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Held by 348 of 6,047 reporting institutions (95th percentile) — extremely crowded.
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 13 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXPE | $35.0B | 29.8× | 13.0× | 2.4× | 7.6% | — | 8.8% | 101% | 17.4% | 0.3× | 1,091 |
| EXPD | $25.8B | 33.4× | 22.1× | 2.3× | 4.4% | — | 7.3% | 34.4% | 34.4% | -1.2× | 924 |
| XPO | $22.1B | 71.5× | 22.3× | 2.7× | 1.1% | — | 3.9% | 17.0% | 6.2% | 2.6× | 722 |
| CHRW | $16.8B | 29.8× | 21.4× | 1.0× | -8.4% | — | 3.6% | 31.8% | 20.0% | 1.1× | 848 |
| GATX | $5.8B | 18.1× | 15.7× | 3.4× | 9.8% | — | 19.2% | 12.1% | 2.2% | 10.5× | 390 |
| GXO | $5.3B | 166.3× | 10.8× | 0.4× | 12.5% | — | 0.2% | 1.1% | 0.5% | 3.1× | 475 |
| GBTG | $5.0B | 43.2× | 18.5× | 1.8× | 12.2% | — | 4.1% | 6.9% | 3.7% | 3.1× | 188 |
| RXO | $4.8B | — | 140.0× | 0.8× | 26.2% | — | -1.7% | -6.5% | -5.1% | 10.5× | 298 |
| BCO | $4.3B | 22.3× | 7.6× | 0.8× | 5.0% | 25.8% | 3.8% | 71.9% | 4.6% | 2.6× | 348 |
| LIND | $2.3B | — | 25.2× | 3.0× | 19.6% | 45.8% | -3.9% | 10.4% | -7.9% | 3.8× | 214 |
| HUBG | $1.7B | 16.2× | 5.5× | 0.4× | -6.1% | — | 2.6% | 6.3% | 5.4% | 0.5× | 279 |
| FWRD | $535M | — | 11.2× | 0.2× | 0.8% | — | -4.3% | -95.1% | -6.0% | 8.4× | 188 |
| VRRM | $447M | 3.5× | 4.0× | 3.4× | 14.6% | — | — | 46.6% | 10.3% | 2.7× | 308 |
| RLGT | $426M | 23.3× | 12.6× | 0.5× | 3.5% | — | 2.0% | 7.8% | 7.8% | -0.8× | 124 |
Peers = companies sharing BCO's sector (Arrangement of Transportation of Freight & Cargo) 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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
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.
Free-cash-flow coverage unavailable. Last year: $42.3M dividends + $209.4M buybacks = $251.7M returned.
6 consecutive years of dividend increases · 11%/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 reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 5%. 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 $1.73B covers the $163.1M due within a year 10.6× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~6.1% on $4.05B of debt.
Cash of $1.73B fully covers short-term debt of $404.2M.
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 2026-10-16
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. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.26B 100.0% | $5.01B 100.0% | $4.87B 100.0% | $4.54B 100.0% | $4.20B 100.0% | $3.69B 100.0% | $3.68B 100.0% | $3.49B 100.0% | $3.35B 100.0% | $3.02B 100.0% |
| Cost of Revenue | $3.90B 74.2% | $3.74B 74.7% | $3.71B 76.0% | $3.46B 76.3% | $3.24B 77.0% | $2.88B 78.0% | $2.83B 76.9% | $2.70B 77.5% | $2.61B 77.9% | $2.39B 79.2% |
| Total Operating Expenses | $4.68B 89.0% | $4.58B 91.3% | $4.40B 90.2% | $4.15B 91.5% | $3.87B 92.0% | $3.46B 93.8% | $3.44B 93.3% | $3.21B 92.1% | $3.08B 91.9% | $2.82B 93.2% |
| Operating Income | $585.5M 11.1% | $453.0M 9.0% | $425.2M 8.7% | $361.3M 8.0% | $354.7M 8.4% | $213.5M 5.8% | $236.8M 6.4% | $274.7M 7.9% | $273.9M 8.2% | $184.5M 6.1% |
| Interest Expense | $245.5M 4.7% | $235.4M 4.7% | $203.8M 4.2% | $138.8M 3.1% | $112.2M 2.7% | $96.5M 2.6% | $90.6M 2.5% | $66.7M 1.9% | $32.2M 1.0% | $20.4M 0.7% |
| Interest & Investment Income | $27.3M 0.5% | $48.9M 1.0% | $36.3M 0.7% | $23.6M 0.5% | $12.1M 0.3% | $5.6M 0.2% | $5.6M 0.2% | $6.9M 0.2% | $4.1M 0.1% | $2.6M 0.1% |
| Other Income (Expense), net | $13.9M 0.3% | $48.7M 1.0% | $14.4M 0.3% | $3.7M 0.1% | -$7.0M -0.2% | -$37.7M -1.0% | -$52.7M -1.4% | -$38.8M -1.1% | -$60.2M -1.8% | -$39.1M -1.3% |
| Pretax Income | $353.9M 6.7% | $266.3M 5.3% | $235.8M 4.8% | $226.2M 5.0% | $235.5M 5.6% | $79.3M 2.1% | $93.5M 2.5% | $42.5M 1.2% | $181.5M 5.4% | $125.0M 4.1% |
| Income Tax Expense | $143.3M 2.7% | $92.7M 1.8% | $139.2M 2.9% | $41.4M 0.9% | $120.3M 2.9% | $56.6M 1.5% | $61.0M 1.7% | $70.0M 2.0% | $157.7M 4.7% | $78.5M 2.6% |
| Net Income | $199.7M 3.8% | $162.9M 3.3% | $87.7M 1.8% | $170.6M 3.8% | $105.2M 2.5% | $16.0M 0.4% | $29.0M 0.8% | -$33.3M -1.0% | $16.7M 0.5% | $34.5M 1.1% |
| Per Share | ||||||||||
| EPS (Basic) | $4.73 | $3.68 | $1.90 | $3.61 | $2.12 | $0.32 | $0.58 | -$0.65 | $0.33 | $0.69 |
| EPS (Diluted) | $4.69 | $3.63 | $1.87 | $3.57 | $2.10 | $0.31 | $0.57 | -$0.65 | $0.32 | $0.68 |
| Weighted Avg Shares (Basic) | 42.2M | 44.3M | 46.2M | 47.3M | 49.5M | 50.4M | 50.2M | 50.9M | 50.7M | 50.0M |
| Weighted Avg Shares (Diluted) | 42.5M | 44.8M | 46.9M | 47.8M | 50.1M | 50.8M | 51.1M | 50.9M | 51.8M | 50.6M |
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.
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.
EOD close · as of 2026-10-16
Where each multiple sits in its own 14-yr range · 42th 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
ROE 72% against ROIC 5% — 67% 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 86.3% — 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 5.9× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 77.5 | 76.9 | 78.0 | 77.0 | 76.3 | 76.0 | 74.7 | 74.2 |
| Operating Income | 7.9 | 6.4 | 5.8 | 8.4 | 8.0 | 8.7 | 9.0 | 11.1 |
| Income Tax | 2.0 | 1.7 | 1.5 | 2.9 | 0.9 | 2.9 | 1.8 | 2.7 |
| Net Income | -1.0 | 0.8 | 0.4 | 2.5 | 3.8 | 1.8 | 3.3 | 3.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BCO: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 4.33pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 8.5% | 8.3% (today's — no rate published for this year) | 0.2pts |
| FY2020 | 6.2% | 8.3% (today's — no rate published for this year) | -2.1pts |
| FY2021 | 8.7% | 5.7% | 3.0pts |
| FY2022 | 7.4% | 7.3% | 0.1pts |
| FY2023 | 9.0% | 7.5% | 1.5pts |
| FY2024 | 9.8% | 8.4% | 1.4pts |
| FY2025 | 12.1% | 7.5% | 4.6pts |
| Now | 4.6% | 8.3% | -3.7pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 20.8% | 6.1% | 1.1% |
| FY2017 | 22.1% | 8.2% | 0.5% |
| FY2018 | 22.5% | 7.9% | -1.0% |
| FY2019 | 23.1% | 6.4% | 0.8% |
| FY2020 | 22.0% | 5.8% | 0.4% |
| FY2021 | 23.0% | 8.4% | 2.5% |
| FY2022 | 23.7% | 8.0% | 3.8% |
| FY2023 | 24.0% | 8.7% | 1.8% |
| FY2024 | 25.3% | 9.0% | 3.3% |
| FY2025 | 25.8% | 11.1% | 3.8% |
Leverage and buybacks account for 67 points of the 72% return on equity in FY2025. The business earns 5% 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.
$1.5B of goodwill — 46% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
ROIC ex-goodwill is 23.46% against 12.6% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 6.04x of reported profit into cash — adequate, without much margin.
Only 4 profitable years available, so the average is shorter than the five the threshold assumes.
Stressed coverage of 1.7x sits between comfortable and thin.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 2.38x |
| 5% | 2.27x |
| 10% | 2.15x |
| 15% | 2.03x |
| 20% | 1.91x |
| 25% | 1.79x |
| 30% | 1.67x |
| 35% | 1.55x |
| 40% | 1.43x |
| 45% | 1.31x |
| 50% | 1.19x |
| 55% | 1.07x |
| 60% | 0.95x |
Ladder as of 2025-12-31 (10-K); 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.
Net debt is 3.4x EBITDA, so coverage today depends on earnings holding up rather than on the balance sheet.
No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: free_cash_flow.
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 0.2% | 6.8% | 6.6 points |
| FY2021 | 13.8% | 3.3% | -10.5 points |
| FY2022 | 8.0% | 22.9% | 14.9 points |
| FY2023 | 7.5% | -9.7% | -17.1 points |
| FY2024 | 2.8% | -5.8% | -8.7 points |
| FY2025 | 5.0% | 4.4% | -0.5 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 63 days | not reported | 23.8 days | 39.2 days |
| FY2020 | 67.2 days | not reported | 26.1 days | 41 days |
| FY2021 | 61 days | not reported | 23.8 days | 37.2 days |
| FY2022 | 69.4 days | not reported | 31.3 days | 38.1 days |
| FY2023 | 58.3 days | not reported | 24.6 days | 33.7 days |
| FY2024 | 53.4 days | not reported | 30.9 days | 22.5 days |
| FY2025 | 53.1 days | not reported | 29.9 days | 23.3 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -9.0 percent |
| FY2020 | -5.9 percent |
| FY2021 | -6.7 percent |
| FY2022 | -4.9 percent |
| FY2023 | not reported |
| FY2024 | not reported |
| FY2025 | not reported |
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 (FY2025) 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.