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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 $75.6M 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 much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $211.8M covers all $157.6M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (20-F).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~5.2% on $155.6M of debt.
Cash of $211.8M fully covers short-term debt of $15.0M.
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 2026-10-14
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 |
|---|---|---|
| Revenue | $597.2M 100.0% | $0 |
| Selling, General & Admin | $6.8M 1.1% | $0 |
| Operating Income | -$30.6M -5.1% | $0 |
| Interest Expense | $8.1M 1.4% | $0 |
| Interest & Investment Income | $3.1M 0.5% | $6K |
| Other Income (Expense), net | -$6.7M -1.1% | $6K |
| Net Income | -$37.4M -6.3% | $6K |
| Per Share | ||
| EPS (Basic) | -$2.28 | $1.28 |
| Weighted Avg Shares (Basic) | 16.4M | 5K |
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 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 11 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RCL | $75.3B | 18.0× | — | 4.2× | 8.8% | 49.4% | 23.8% | 42.5% | 13.6% | — | 1,182 |
| CCL | $35.9B | 13.2× | — | 1.4× | 6.4% | — | 10.4% | 22.5% | 7.1% | — | 53 |
| KEX | $7.2B | 21.6× | 10.6× | 2.1× | 3.0% | — | 10.5% | 10.5% | 8.3% | 1.1× | 440 |
| NCLH | $7.0B | 16.6× | 7.9× | 0.7× | 3.7% | 42.6% | 4.3% | 19.2% | 2.5% | 5.3× | 621 |
| MATX | $7.0B | 17.0× | 11.2× | 2.1× | -2.3% | — | 13.3% | 16.1% | 14.3% | 0.3× | 411 |
| INSW | $6.2B | 20.1× | 13.1× | 7.3× | -11.4% | — | 36.7% | 15.3% | 12.0% | 0.9× | 350 |
| GLNG | $4.9B | — | 44.0× | 12.4× | 51.1% | — | 16.7% | 3.6% | 1.4% | 10.8× | 313 |
| TDW | $4.3B | 13.1× | 10.2× | 3.2× | 0.5% | — | 24.7% | 24.5% | 16.6% | 0.2× | 355 |
| TNK | $3.7B | 10.5× | 7.2× | 3.9× | -22.6% | 66.7% | 36.9% | 17.2% | 17.2% | -2.1× | 239 |
| NAT | $1.9B | 146.5× | 21.5× | 6.4× | -16.6% | 62.3% | 4.2% | 2.8% | 1.4% | 3.6× | 269 |
| FLNG | $1.7B | 22.1× | 12.1× | 4.8× | -2.4% | — | 21.5% | 10.4% | 2.9% | 5.6× | 203 |
| CMDB | $518M | — | — | 0.9× | — | — | -6.3% | -5.6% | -4.5% | — | 101 |
Peers = companies sharing CMDB's sector (Water Transportation) 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.
Average free cash flow across the last 2 positive fiscal years (FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $20.43 today, the market must believe free cash flow compounds -6.8%/yr for a decade (off $37.8M on the 3-yr avg basis).
On the basis ($36.7M) the requirement is -6.4%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -6.8% is more conservative than its 1-yr track record.
Default is 6.6% — 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 -$56.3M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
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.
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 2026-10-14
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -6% against ROIC -5% — -1% 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 -11.2% — 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
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2024 | FY2025 |
|---|---|---|
| SG&A | — | 1.1 |
| Operating Income | — | -5.1 |
| Net Income | — | -6.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CMDB: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
Return on equity (-6%) and return on invested capital (-5%) 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.
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.
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 2025-12-31 (20-F); 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 $21.33, free cash flow must compound -5.17%/yr for 10 years. It has no positive compounding record to compare against.
The implied rate has been matched or beaten in 1 of the last 1 years.