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Held by 207 of 6,047 reporting institutions (91th 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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 2 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.
On the SBC-adjusted basis free cash flow is -$19.0M — there is nothing left to discount once stock compensation is charged, so no growth rate can be solved for. The 3-yr avg basis gives $7.9M over those same years — the whole difference is the stock compensation.
mean 145.6% · volatility σ 429%
Central path = implied —/yr growth; shaded band = ±1σ (429%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Ranked against 12 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDT | $122.1B | 25.6× | 15.7× | 3.4× | 8.4% | 65.0% | 13.2% | 9.7% | 6.2% | 2.8× | 2,050 |
| LIVN | $4.3B | — | 17.8× | 3.1× | 10.7% | 67.7% | -17.5% | -20.2% | -15.4% | -1.1× | 294 |
| ITGR | $4.3B | 43.9× | 15.6× | 2.3× | 8.0% | 27.0% | 5.5% | 5.9% | 3.5% | 3.3× | 309 |
| TMDX | $2.7B | 15.7× | 16.0× | 4.4× | 37.1% | 59.9% | 31.4% | 40.2% | 39.4% | -3.5× | 371 |
| AXGN | $2.1B | — | — | 9.3× | 20.2% | 74.3% | -7.0% | -12.2% | -8.9% | — | 241 |
| BLFS | $1.9B | — | — | 19.6× | 28.9% | 64.6% | -4.8% | -1.2% | -1.2% | — | 207 |
| CNMD | $1.4B | 31.2× | 18.8× | 1.0× | 5.2% | 54.6% | 3.4% | 4.6% | 2.5% | 7.0× | 236 |
| CBLL | $1.1B | — | — | 11.9× | 36.1% | 87.9% | -60.0% | -34.4% | -34.4% | — | 123 |
| INMD | $824M | 10.0× | 6.1× | 2.2× | -6.2% | 78.5% | 25.3% | 13.7% | 13.7% | -3.5× | 185 |
| CV | $343M | — | — | 25.3× | 15.3% | 52.9% | -187% | -191% | -191% | — | 51 |
| ELMD | $232M | 21.6× | 14.4× | 3.1× | 15.3% | 78.5% | 15.3% | 20.9% | 20.9% | -1.4× | 128 |
| FOCL | $195M | — | — | 2.8× | 1.6% | 42.5% | -41.5% | -151% | -73.7% | — | — |
| STXS | $105M | — | — | 3.3× | 20.3% | 52.7% | -66.8% | -161% | -161% | — | 108 |
Peers = companies sharing BLFS's sector (Electromedical & Electrotherapeutic 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.
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 $10.6M 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.
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 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 $33.0M (at 2025-12-31) covers all $10.1M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-06-30 (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.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~38.5% on $13K of debt. Interest last disclosed in FY2019 (no longer broken out).
Cash of $33.0M fully covers short-term debt of $5.0M.
Mostly short-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 2026-10-07 · 10d old
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 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $96.2M 100.0% | $74.6M 100.0% | $68.0M 100.0% | $76.2M 100.0% | $119.2M 100.0% | $48.1M 100.0% | $27.4M 100.0% | $19.7M 100.0% | $11.0M 100.0% | $8.2M 100.0% |
| Cost of Revenue | $34.1M 35.4% | $24.6M 32.9% | $26.7M 39.3% | — | — | — | $8.8M 32.0% | $6.2M 31.5% | $4.3M 38.8% | $3.4M 41.9% |
| Gross Profit | $62.1M 64.6% | $50.1M 67.1% | $41.3M 60.7% | — | — | — | — | $13.5M 68.5% | $6.7M 61.2% | $4.8M 58.1% |
| Research & Development | $7.6M 7.9% | $4.8M 6.4% | $5.5M 8.1% | $8.7M 11.4% | $11.8M 9.9% | $6.7M 14.0% | $3.2M 11.6% | $1.3M 6.6% | $1.2M 10.8% | $2.0M 24.7% |
| Selling, General & Admin | $45.5M 47.3% | $40.6M 54.4% | $42.8M 62.9% | $33.3M 43.6% | $33.7M 28.3% | $15.3M 31.8% | $8.9M 32.5% | $6.0M 30.1% | $4.5M 41.0% | $4.6M 55.8% |
| Total Operating Expenses | $78.7M 81.8% | $54.6M 73.1% | $58.5M 86.0% | $82.2M 107.8% | $154.3M 129.5% | $54.3M 113.0% | $27.6M 100.8% | $9.9M 50.0% | $7.8M 70.8% | $9.6M 117.1% |
| Operating Income | -$16.6M -17.3% | -$4.5M -6.0% | -$17.2M -25.3% | -$5.9M -7.8% | -$35.2M -29.5% | -$6.2M -13.0% | -$220K -0.8% | $3.7M 18.5% | -$1.1M -9.6% | -$4.9M -59.0% |
| Interest Expense | — | — | — | — | — | — | $5K 0.0% | $5K 0.0% | $190K 1.7% | $100K 1.2% |
| Interest & Investment Income | — | — | — | — | — | $58K 0.1% | $501K 1.8% | $281K 1.4% | — | — |
| Other Income (Expense), net | $4.5M 4.7% | -$4.3M -5.8% | $5.0M 7.3% | $1.1M 1.4% | $6.1M 5.1% | $5.0M 10.3% | -$3.0M -10.9% | -$28.7M -145.2% | -$1.5M -13.2% | -$3.2M -38.8% |
| Pretax Income | -$12.1M -12.6% | -$8.8M -11.8% | -$12.2M -18.0% | -$4.8M -6.4% | -$29.0M -24.4% | -$1.3M -2.7% | -$3.2M -11.7% | -$25.0M -126.7% | -$2.5M -22.8% | — |
| Income Tax Expense | $49K 0.1% | -$38K -0.1% | -$64K -0.1% | -$5.2M -6.9% | -$20.1M -16.9% | -$3.3M -6.8% | -$1.5M -5.6% | — | $0 0.0% | $0 0.0% |
| Net Income | -$4.6M -4.8% | -$20.2M -27.0% | -$68.0M -100.0% | -$139.8M -183.4% | -$8.9M -7.5% | $2.0M 4.1% | -$1.7M -6.1% | -$25.0M -126.7% | -$2.5M -22.8% | -$6.9M -83.6% |
| Per Share | ||||||||||
| EPS (Basic) | -$0.09 | -$0.44 | -$1.55 | -$3.29 | -$0.23 | $0.07 | -$0.09 | -$1.56 | -$0.21 | — |
| EPS (Diluted) | -$0.10 | -$0.44 | -$1.55 | -$3.25 | -$0.23 | -$0.06 | -$0.09 | -$1.56 | -$0.21 | — |
| Weighted Avg Shares (Basic) | 47.8M | 46.1M | 43.7M | 42.5M | 38.5M | 27.3M | 19.5M | 16.3M | 13.3M | — |
| Weighted Avg Shares (Diluted) | 48.6M | 46.1M | 43.7M | 43.1M | 38.5M | — | — | 21.6M | 13.3M | — |
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 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
EOD close · as of 2026-10-07
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 58.1% | -59.0% | -83.6% |
| FY2017 | 61.2% | -9.6% | -22.8% |
| FY2018 | 68.5% | 18.5% | -126.7% |
| FY2019 | 68.0% | -0.8% | -6.1% |
| FY2020 | not reported | -13.0% | 4.1% |
| FY2021 | not reported | -29.5% | -7.5% |
| FY2022 | not reported | -7.8% | -183.4% |
| FY2023 | 60.7% | -25.3% | -100.0% |
| FY2024 | 67.1% | -6.0% | -27.0% |
| FY2025 | 64.6% | -17.3% | -4.8% |
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: tax_rate.
Where each multiple sits in its own 14-yr range · 78th 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 -1% against ROIC -1% — -0% 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 9.4× 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 | 31.5 | 32.0 | — | — | — | 39.3 | 32.9 | 35.4 |
| Gross Profit | 68.5 | — | — | — | — | 60.7 | 67.1 | 64.6 |
| R&D | 6.6 | 11.6 | 14.0 | 9.9 | 11.4 | 8.1 | 6.4 | 7.9 |
| SG&A | 30.1 | 32.5 | 31.8 | 28.3 | 43.6 | 62.9 | 54.4 | 47.3 |
| Operating Income | 18.5 | -0.8 | -13.0 | -29.5 | -7.8 | -25.3 | -6.0 | -17.3 |
| Income Tax | — | -5.6 | -6.8 | -16.9 | -6.9 | -0.1 | -0.1 | 0.1 |
| Net Income | -126.7 | -6.1 | 4.1 | -7.5 | -183.4 | -100.0 | -27.0 | -4.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BLFS: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Return on equity (-1%) and return on invested capital (-1%) 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.
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.
This schedule comes from a filing dated 2025-06-30, 473 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2025-06-30 (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, interest_expense.
Once stock compensation is charged, free cash flow averages -$19M over the last 2 years — there is nothing left to discount, so no growth rate can be solved for. Before the charge it averages $8M.
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: positive_free_cash_flow.
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.