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Data as of Q3 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 2026-09-30.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HPE | $78.1B | — | 41.2× | 2.3× | 13.8% | — | 0.2% | 0.2% | 0.1% | 7.2× | 498 |
| P | $45.7B | 249.4× | 178.3× | 12.5× | 15.6% | 70.4% | 5.1% | 13.0% | 13.0% | -3.4× | — |
| NTAP | $42.9B | 34.4× | 23.4× | 6.9× | 5.6% | 78.5% | 20.5% | 94.4% | 33.2% | 0.2× | 305 |
| HPQ | $28.7B | 12.0× | 8.5× | 0.5× | 3.2% | 20.6% | 4.6% | -731% | 27.1% | 1.5× | 362 |
| SMCI | $22.6B | 10.6× | 6.8× | 0.6× | 77.8% | 10.8% | 5.7% | 15.4% | 12.0% | -1.2× | 212 |
| FFIV | $20.6B | 30.8× | 22.5× | 6.7× | 9.7% | 81.4% | 22.4% | 19.3% | 19.3% | -1.6× | 222 |
| LOGI | $14.2B | 20.6× | 14.8× | 2.9× | 6.3% | 43.2% | 14.7% | 32.2% | 32.2% | -2.1× | 80 |
| NATL | $3.4B | 21.4× | 7.5× | 0.8× | 1.1% | — | 3.7% | 40.2% | 5.1% | 3.0× | 73 |
| EXTR | $3.1B | 76.1× | 39.1× | 2.4× | 12.6% | 61.5% | 3.3% | 47.5% | 16.7% | -0.6× | 58 |
| DGII | $2.9B | 71.9× | 34.2× | 6.8× | 1.5% | 62.9% | 9.5% | 6.4% | 5.1% | 1.5× | 63 |
| DBD | $2.0B | 23.3× | 7.0× | 0.5× | 1.5% | 25.3% | 2.5% | 8.6% | 4.6% | 1.5× | 33 |
| ATEN | $1.9B | 45.3× | 32.6× | 6.5× | 11.0% | 79.3% | 14.5% | 19.9% | 9.8% | 2.4× | 51 |
| OMCL | $1.7B | — | 17.6× | 1.4× | 6.5% | 42.5% | 0.2% | 0.2% | 0.2% | -2.3× | 47 |
| CRSR | $1.5B | — | 94.1× | 1.0× | 11.9% | 28.9% | -1.1% | -2.6% | -2.1% | 1.5× | 38 |
| VYX | $1.1B | 27.4× | 7.8× | 0.4× | -4.6% | — | 2.3% | 6.5% | 3.0% | 3.4× | 62 |
| EVLV | $872M | — | — | 6.0× | 40.5% | 51.6% | -22.7% | -27.7% | -22.4% | — | 35 |
| MITK | $833M | 97.2× | 54.4× | 4.6× | 4.4% | — | 4.9% | 3.7% | 1.6% | 8.3× | 35 |
| PAR | $736M | — | — | 1.6× | 30.2% | 43.5% | -18.5% | -10.2% | -6.9% | — | 31 |
Peers = companies sharing DBD's sector (Calculating & Accounting Machines (No Electronic Computers)) 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 $55.05 today, the market must believe free cash flow compounds -1.9%/yr for a decade (off $199.8M on the 3-yr avg basis).
On the basis ($188.9M) the requirement is -1.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -1.9% is more conservative than its 9-yr track record.
Default is 8.6% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.03B shares (market data) · net debt $569.6M
mean 1490.9% · volatility σ 4388% · implied rate exceeded in 3/7 yrs
Central path = implied -1.9%/yr growth; shaded band = ±1σ (4388%) 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.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $130.7M buybacks = $130.7M returned on $273.4M 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.
Reinvestment has been productive — operating income grew well per dollar put in. 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 $307.4M covers the $25.8M due within a year 11.9× over. Scheduled principal only (excludes interest & revolver draws). As of 2022-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~9.1% on $938.5M 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.
EOD close · as of 2026-10-30
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 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.81B 100.0% | $3.75B 100.0% | $3.46B 100.0% | $3.91B 100.0% | $3.90B 100.0% | $4.41B 100.0% | $4.58B 100.0% | $4.61B 100.0% | $3.32B 100.0% | $2.42B 100.0% |
| Cost of Revenue | $2.84B 74.7% | $2.83B 75.5% | $2.70B 78.1% | $2.86B 73.3% | $2.87B 73.5% | $3.34B 75.8% | $3.68B 80.4% | $3.61B 78.3% | $2.60B 78.5% | $1.77B 73.1% |
| Cost of Products | — | — | — | — | — | — | — | $1.44B 31.2% | $1.19B 36.0% | $820.5M 33.9% |
| Cost of Services | — | — | — | — | — | — | — | $2.16B 46.9% | $1.40B 42.3% | $946.8M 39.1% |
| Gross Profit | $961.2M 25.3% | $920.0M 24.5% | $757.3M 21.9% | $1.04B 26.7% | $1.03B 26.5% | $1.07B 24.2% | $898.8M 19.6% | $999.8M 21.7% | $711.7M 21.5% | $652.0M 26.9% |
| Research & Development | $86.7M 2.3% | $93.6M 2.5% | $120.7M 3.5% | $126.3M 3.2% | $133.4M 3.4% | $147.1M 3.3% | $157.4M 3.4% | $155.5M 3.4% | $110.2M 3.3% | $86.9M 3.6% |
| Selling, General & Admin | $632.5M 16.6% | $643.6M 17.2% | $741.6M 21.4% | $775.6M 19.9% | $858.6M 22.0% | $908.8M 20.6% | $893.5M 19.5% | $933.7M 20.3% | $761.2M 23.0% | $488.2M 20.2% |
| Total Operating Expenses | $719.2M 18.9% | $737.9M 19.7% | $969.0M 28.0% | $906.3M 23.2% | -$1.01B -25.9% | -$1.09B -24.8% | $1.22B 26.7% | $1.09B 23.7% | $881.5M 26.6% | $593.4M 24.5% |
| Operating Income | $242.0M 6.4% | $182.1M 4.9% | -$211.7M -6.1% | $137.1M 3.5% | $24.0M 0.6% | -$26.6M -0.6% | -$325.6M -7.1% | -$93.5M -2.0% | -$169.8M -5.1% | $58.6M 2.4% |
| Interest Expense | $85.7M 2.3% | $155.3M 4.1% | $199.2M 5.8% | $195.3M 5.0% | $266.8M 6.8% | $202.9M 4.6% | $154.9M 3.4% | $117.3M 2.5% | $101.4M 3.1% | $32.5M 1.3% |
| Other Income (Expense), net | -$116.9M -3.1% | -$134.8M -3.6% | -$226.9M -6.6% | -$187.8M -4.8% | -$293.5M -7.5% | -$202.3M -4.6% | -$152.7M -3.3% | -$98.4M -2.1% | -$78.9M -2.4% | -$12.8M -0.5% |
| Pretax Income | $125.1M 3.3% | $47.3M 1.3% | -$438.6M -12.7% | -$50.7M -1.3% | -$269.5M -6.9% | -$228.9M -5.2% | -$478.3M -10.4% | -$191.9M -4.2% | -$248.7M -7.5% | $45.8M 1.9% |
| Income Tax Expense | $24.1M 0.6% | $64.3M 1.7% | $149.2M 4.3% | $27.7M 0.7% | -$1.0M -0.0% | $116.7M 2.6% | $37.2M 0.8% | $28.3M 0.6% | -$69.0M -2.1% | -$13.7M -0.6% |
| Net Income | $94.6M 2.5% | -$16.5M -0.4% | -$581.4M -16.8% | -$78.8M -2.0% | -$269.1M -6.9% | -$341.3M -7.7% | -$531.4M -11.6% | -$241.5M -5.2% | -$41.6M -1.3% | $73.7M 3.0% |
| Per Share | ||||||||||
| EPS (Basic) | $2.57 | -$0.44 | -$7.36 | -$1.01 | — | — | -$7.48 | -$3.20 | -$0.60 | $1.13 |
| EPS (Diluted) | $2.54 | -$0.44 | -$7.36 | -$1.01 | -$3.47 | — | -$7.48 | -$3.20 | -$0.60 | $1.12 |
| Weighted Avg Shares (Basic) | 36.8M | 37.6M | 79.0M | 78.3M | — | — | 76.0M | 75.5M | 69.1M | 64.9M |
| Weighted Avg Shares (Diluted) | 37.2M | 37.6M | 79.0M | 78.3M | 77.6M | 76.7M | 76.0M | 75.5M | 69.1M | 65.6M |
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.
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
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.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-31 | Timko Thomas S EVP, CFO | Open-market buyindirect | 700 | $72.29 | $51k |
| 2026-06-26 | 3 co-filers Group filing | Open-market saleindirect | 100,000 | $84.80 | $8.5m |
| 2026-06-25 | 6 co-filers Group filing | Open-market saleindirect | 2,741 | $85.06 | $233k |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 2026-06-24 | 6 co-filers Group filing | Open-market saleindirect | 228,723 | $83.95 | $19.2m |
| 2026-06-15 | 6 co-filers Group filing | Open-market saleindirect | 1,765 | $83.91 | $148k |
| 2026-06-12 | 6 co-filers Group filing | Open-market saleindirect | 159,675 | $82.12 | $13.1m |
| 2026-06-11 | 6 co-filers Group filing | Open-market saleindirect | 1,108 | $82.06 | $91k |
| 2026-06-10 | 6 co-filers Group filing | Open-market saleindirect | 17,660 | $82.08 | $1.4m |
| 2026-06-08 | 3 co-filers Group filing | Open-market saleindirect | 88,334 | $82.99 | $7.3m |
| 2026-06-03 | 2 co-filers EVP, CFO | Gift | 672 | $0.00 | $0 |
| 2026-06-03 | 2 co-filers EVP, CFO | Giftindirect | 672 | $0.00 | $0 |
| 2026-05-27 | 2 co-filers President and CEO | Open-market buy | 621 | $79.56 | $49k |
| 2026-05-26 | 2 co-filers President and CEO | Open-market buy | 629 | $79.37 | $50k |
| 2026-05-22 | Myers Jonathan EVP, Chief Revenue Officer | Open-market buy | 1,360 | $73.41 | $100k |
| 2026-05-22 | Parris Colin J. Director | Grant | 2,621 | $0.00 | $0 |
| 2026-05-22 | Markus Maura A. Director | Grant | 2,621 | $0.00 | $0 |
| 2026-05-22 | Timko Thomas S EVP, CFO | Open-market buy | 672 | $74.36 | $50k |
| 2026-05-11 | Singh Rajesh K EVP, Chief Information Officer | Grant | 17,128 | $0.00 | $0 |
| 2026-04-16 | 6 co-filers Group filing | Open-market saleindirect | 60,833 | $84.77 | $5.2m |
| 2026-04-15 | 6 co-filers Group filing | Open-market saleindirect | 51,472 | $85.43 | $4.4m |
| 2026-04-08 | 3 co-filers Group filing | Open-market saleindirect | 399,929 | $82.42 | $33.0m |
| 2026-03-07 | Marquez Octavio President and CEO | Tax withholding | 10,549 | $77.58 | $818k |
| 2026-03-01 | 2 co-filers EVP, Chief Administrative Ofcr | Tax withholding | 1,944 | $80.00 | $156k |
| 2026-03-01 | Zosel Andrew Joseph EVP, Chief Prod & Tech Officer | Grant11d late | 6,561 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers SVP, Chief Accounting Officer | Tax withholding3d late | 672 | $80.00 | $54k |
| 2026-03-01 | 2 co-filers EVP, Chief Operating Officer | Tax withholding | 2,876 | $80.00 | $230k |
| 2026-03-01 | 2 co-filers EVP, Chief Revenue Officer | Tax withholding | 2,905 | $80.00 | $232k |
| 2026-03-01 | 2 co-filers President and CEO | Tax withholding | 9,119 | $80.00 | $730k |
| 2026-03-01 | 2 co-filers EVP, CFO | Tax withholding | 7,553 | $80.00 | $604k |
| 2026-03-01 | 2 co-filers EVP, Chief Revenue Officer | Grant | 9,448 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers EVP, Chief Operating Officer | Grant | 7,589 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers EVP, Chief Administrative Ofcr | Grant | 6,607 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers President and CEO | Grant | 44,286 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers SVP, Chief Accounting Officer | Grant3d late | 2,215 | $0.00 | $0 |
| 2026-03-01 | 2 co-filers EVP, CFO | Grant | 15,308 | $0.00 | $0 |
| 2026-01-19 | Radigan Elizabeth Christine EVP, Chief Administrative Ofcr | Tax withholding | 757 | $69.91 | $53k |
| 2026-01-19 | Baur Frank Tobias EVP, Chief Operating Officer | Tax withholding | 716 | $69.91 | $50k |
| 2026-01-19 | Myers Jonathan EVP, Chief Revenue Officer | Tax withholding | 1,047 | $69.91 | $73k |
| 2026-01-19 | Marquez Octavio President and CEO | Tax withholding | 3,136 | $69.91 | $219k |
| 2026-01-19 | Timko Thomas S EVP, CFO | Tax withholding | 1,439 | $69.91 | $101k |
EOD close · as of 2026-10-30
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 9% against ROIC 5% — 4% 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 22.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 78.3 | 80.4 | 75.8 | 73.5 | 73.3 | 78.1 | 75.5 | 74.7 |
| Gross Profit | 21.7 | 19.6 | 24.2 | 26.5 | 26.7 | 21.9 | 24.5 | 25.3 |
| R&D | 3.4 | 3.4 | 3.3 | 3.4 | 3.2 | 3.5 | 2.5 | 2.3 |
| SG&A | 20.3 | 19.5 | 20.6 | 22.0 | 19.9 | 21.4 | 17.2 | 16.6 |
| Operating Income | -2.0 | -7.1 | -0.6 | 0.6 | 3.5 | -6.1 | 4.9 | 6.4 |
| Income Tax | 0.6 | 0.8 | 2.6 | -0.0 | 0.7 | 4.3 | 1.7 | 0.6 |
| Net Income | -5.2 | -11.6 | -7.7 | -6.9 | -2.0 | -16.8 | -0.4 | 2.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on DBD: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 0.07pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2018 | -13.6% | 8.6% (today's — no rate published for this year) | -22.2pts |
| FY2019 | -1.2% | 8.6% (today's — no rate published for this year) | -9.8pts |
| FY2020 | 1.0% | 8.6% (today's — no rate published for this year) | -7.6pts |
| FY2021 | 6.2% | 7.0% | -0.8pts |
| FY2022 | -13.9% | 8.9% | -22.9pts |
| FY2024 | 7.2% | 9.9% | -2.8pts |
| FY2025 | 8.8% | 8.2% | 0.7pts |
| Now | 4.6% | 8.6% | -3.9pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2015 | 26.9% | 2.4% | 3.0% |
| FY2016 | 21.5% | -5.1% | -1.3% |
| FY2017 | 21.7% | -2.0% | -5.2% |
| FY2018 | 19.6% | -7.1% | -11.6% |
| FY2019 | 24.2% | -0.6% | -7.7% |
| FY2020 | 26.5% | 0.6% | -6.9% |
| FY2021 | 26.7% | 3.5% | -2.0% |
| FY2022 | 21.9% | -6.1% | -16.8% |
| FY2024 | 24.5% | 4.9% | -0.4% |
| FY2025 | 25.3% | 6.4% | 2.5% |
Leverage and buybacks account for 4 points of the 9% 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.
$628M of goodwill — 32% 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 12.74% against 8.65% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
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.
Covers interest 2.2x under stress — adequate, without much room.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 3.15x |
| 5% | 2.99x |
| 10% | 2.84x |
| 15% | 2.68x |
| 20% | 2.52x |
| 25% | 2.36x |
| 30% | 2.21x |
| 35% | 2.05x |
| 40% | 1.89x |
| 45% | 1.73x |
| 50% | 1.58x |
| 55% | 1.42x |
| 60% | 1.26x |
This schedule comes from a filing dated 2022-12-31, 1399 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2022-12-31 (10-K); cash from the 2022-12-31 balance sheet; FCF from FY2022. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2022-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $59.14, free cash flow must compound -0.18%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −99.3% | −0.2% |
| FY2021 | 11425.0% | −0.2% |
| FY2022 | −551.8% | −0.2% |
| FY2025 | 116.6% | −0.2% |
The implied rate has been matched or beaten in 2 of the last 4 years.