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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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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.
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.
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 -$20.8M 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 6 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 266%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 6 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 — 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 |
|---|---|---|---|---|---|---|
| Revenue | $20.7M 100.0% | $28.5M 100.0% | $33.9M 100.0% | $43.1M 100.0% | $30.2M 100.0% | $15.1M 100.0% |
| Cost of Revenue | $10.6M 51.4% | $17.4M 60.9% | $13.8M 40.8% | $15.8M 36.7% | $12.6M 41.6% | $9.5M 62.8% |
| Gross Profit | $10.1M 48.6% | $11.1M 39.1% | $20.1M 59.2% | $27.3M 63.3% | $17.6M 58.4% | $5.6M 37.2% |
| Research & Development | $6.3M 30.5% | $8.9M 31.2% | $9.9M 29.1% | $16.0M 37.1% | — | — |
| Selling, General & Admin | $28.3M 136.5% | $23.6M 82.6% | $25.4M 74.9% | $23.4M 54.4% | $23.7M 78.6% | $19.7M 129.9% |
| Total Operating Expenses | $55.1M 265.9% | $50.8M 177.9% | $45.1M 133.2% | $61.3M 142.2% | $59.1M 196.0% | $58.4M 385.8% |
| Operating Income | -$45.0M -217.3% | -$39.6M -138.8% | -$25.1M -74.0% | -$34.0M -78.9% | -$41.5M -137.6% | -$52.8M -348.6% |
| Interest Expense | — | — | — | $0 0.0% | $3K 0.0% | $3K 0.0% |
| Other Income (Expense), net | $20K 0.1% | $188K 0.7% | $764K 2.3% | $44K 0.1% | $558K 1.8% | $82K 0.5% |
| Pretax Income | -$45.9M -221.5% | -$38.1M -133.4% | -$26.3M -77.6% | -$37.4M -86.8% | -$35.8M -118.8% | -$47.5M -313.8% |
| Income Tax Expense | — | $0 0.0% | -$81K -0.2% | $2.0M 4.6% | $0 0.0% | $0 0.0% |
| Net Income | -$48.1M -232.0% | -$39.3M -137.6% | -$27.0M -79.6% | -$41.0M -95.1% | -$36.7M -121.5% | -$48.3M -318.9% |
| Per Share | ||||||
| EPS (Basic) | -$2.59 | -$2.56 | -$2.02 | -$3.01 | -$2.69 | -$4.37 |
| EPS (Diluted) | -$2.59 | -$2.56 | -$2.02 | -$3.01 | -$2.69 | -$4.37 |
| Weighted Avg Shares (Basic) | 18.5M | 15.3M | 13.4M | 13.6M | 13.6M | 11.0M |
| Weighted Avg Shares (Diluted) | 18.5M | 15.3M | 13.4M | 13.6M | 13.6M | 11.0M |
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.
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).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2021 (no longer broken out).
Cash of $5.6M is below short-term debt of $19.2M — relies on refinancing/operations.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-11-03
Where each multiple sits in its own 6-yr range · 0th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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 129% against ROIC 266% — -137% 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 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Cost of Revenue | 62.8 | 41.6 | 36.7 | 40.8 | 60.9 | 51.4 |
| Gross Profit | 37.2 | 58.4 | 63.3 | 59.2 | 39.1 | 48.6 |
| R&D | — | — | 37.1 | 29.1 | 31.2 | 30.5 |
| SG&A | 129.9 | 78.6 | 54.4 | 74.9 | 82.6 | 136.5 |
| Operating Income | -348.6 | -137.6 | -78.9 | -74.0 | -138.8 | -217.3 |
| Income Tax | 0.0 | 0.0 | 4.6 | -0.2 | 0.0 | — |
| Net Income | -318.9 | -121.5 | -95.1 | -79.6 | -137.6 | -232.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CASIF: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.