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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 14 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AEHR | $2.8B | — | — | 55.3× | -15.2% | 35.3% | -14.3% | -3.2% | -3.2% | — | 255 |
| ALNT | $1.9B | 83.3× | 28.9× | 3.4× | 4.6% | 32.8% | 4.0% | 7.3% | 4.6% | 2.0× | 221 |
| FEIM | $847M | — | — | 13.4× | -9.4% | 29.1% | -1.4% | -1.6% | -1.6% | — | 140 |
| TRNS | $807M | 151.3× | 22.9× | 2.4× | 19.2% | 32.6% | 1.6% | 1.8% | 1.3% | 2.4× | 168 |
| MLAB | $714M | 105.4× | 31.7× | 2.9× | 3.4% | 63.5% | 2.7% | 3.6% | 2.6% | 1.7× | 154 |
| CTKB | $706M | — | — | 3.5× | 0.5% | 51.8% | -33.0% | -19.5% | -19.5% | — | 152 |
| MASS | $498M | 22.3× | — | 8.9× | 17.7% | 50.6% | 34.7% | 13.6% | 13.6% | — | 111 |
| SENS | $475M | — | — | 13.5× | 56.9% | 44.7% | -196% | -113% | -71.5% | — | 109 |
| OPTX | $326M | — | 156.6× | 11.6× | -1.3% | 23.3% | -6.4% | -18.8% | -14.7% | 1.1× | 62 |
| LAB | $271M | — | — | 3.2× | -6.2% | 49.9% | -87.8% | -17.7% | -17.7% | — | 141 |
| INTT | $187M | — | 58.6× | 1.6× | -12.9% | 43.0% | -2.2% | -2.4% | -2.3% | -2.2× | 89 |
| QTRX | $155M | — | — | 1.1× | 1.1% | 46.8% | -77.1% | -36.2% | -36.2% | — | 133 |
| OWLT | $138M | — | — | 1.3× | 37.1% | 50.9% | -36.6% | -204% | -121% | — | 58 |
| HURC | $136M | — | — | 0.8× | -4.3% | 18.5% | -8.5% | -7.6% | -7.6% | — | 56 |
| ELSE | $27M | 86.0× | 184.6× | 2.7× | 8.2% | 50.8% | 3.0% | 2.1% | 2.1% | — | 12 |
Peers = companies sharing ELSE's sector (Industrial Instruments For Measurement, Display, and Control) 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 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $7.74 today, the market must believe free cash flow compounds 25.4%/yr for a decade (off $309K on the 3-yr avg basis).
The market's 25.4% is more optimistic than its 9-yr track record.
Default is 11.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.00B shares (market data) · net debt -$10.5M
mean 138.7% · volatility σ 310% · implied rate exceeded in 4/8 yrs
Central path = implied 25.4%/yr growth; shaded band = ±1σ (310%) 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 + $0 buybacks = $0 returned on $597K 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: 2%. 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.
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 FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
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 2026-08-04 · 70d 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 | $10.1M 100.0% | $9.4M 100.0% | $8.6M 100.0% | $9.0M 100.0% | $8.6M 100.0% | $7.6M 100.0% | $8.3M 100.0% | $7.5M 100.0% | $7.8M 100.0% | $7.2M 100.0% |
| Cost of Revenue | $5.0M 49.2% | $4.8M 51.1% | $4.3M 50.4% | $4.2M 46.4% | $3.9M 45.7% | $3.7M 48.4% | $3.9M 47.1% | $3.4M 46.0% | $3.5M 45.2% | $3.3M 45.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $3.5M 45.2% | $3.3M 45.9% |
| Gross Profit | $5.2M 50.8% | $4.6M 48.9% | $4.2M 49.6% | $4.8M 53.6% | $4.7M 54.3% | $3.9M 51.6% | $4.4M 52.9% | $4.0M 54.0% | $4.3M 54.8% | $3.9M 54.1% |
| Research & Development | $991K 9.8% | $1.0M 10.8% | $973K 11.4% | $836K 9.3% | $876K 10.2% | $836K 11.0% | $811K 9.8% | $813K 10.8% | $812K 10.4% | $767K 10.7% |
| Selling, General & Admin | $2.4M 23.9% | $2.1M 22.7% | $2.0M 23.0% | $2.5M 28.0% | $2.0M 23.1% | $1.7M 22.1% | $1.7M 20.1% | $1.7M 23.3% | $1.6M 20.5% | $1.4M 19.1% |
| Total Operating Expenses | $5.2M 50.8% | $4.6M 48.9% | $4.3M 49.9% | $4.9M 54.0% | $4.2M 49.2% | $4.1M 54.2% | $4.4M 53.2% | $4.2M 55.9% | $3.9M 49.6% | $3.7M 51.8% |
| Operating Income | $2K 0.0% | -$4K -0.0% | -$28K -0.3% | -$37K -0.4% | $441K 5.1% | -$204K -2.7% | -$31K -0.4% | -$145K -1.9% | $410K 5.2% | $170K 2.4% |
| Interest Expense | — | $0 0.0% | $1K 0.0% | $1K 0.0% | $1K 0.0% | $3K 0.0% | $2K 0.0% | $1K 0.0% | $0 0.0% | $1K 0.0% |
| Interest & Investment Income | $351K 3.5% | $440K 4.7% | $407K 4.8% | $110K 1.2% | $5K 0.1% | $36K 0.5% | $209K 2.5% | $120K 1.6% | $38K 0.5% | $20K 0.3% |
| Other Income (Expense), net | $345K 3.4% | $440K 4.7% | $406K 4.7% | $109K 1.2% | $18K 0.2% | $32K 0.4% | $217K 2.6% | $127K 1.7% | $48K 0.6% | $34K 0.5% |
| Pretax Income | $347K 3.4% | $436K 4.7% | $378K 4.4% | $72K 0.8% | $459K 5.3% | -$172K -2.3% | $186K 2.3% | -$18K -0.2% | $458K 5.8% | $204K 2.8% |
| Income Tax Expense | $41K 0.4% | -$10K -0.1% | $103K 1.2% | -$28K -0.3% | $49K 0.6% | -$48K -0.6% | -$1K -0.0% | -$8K -0.1% | $163K 2.1% | $2K 0.0% |
| Net Income | $306K 3.0% | $446K 4.8% | $275K 3.2% | $100K 1.1% | $410K 4.8% | -$124K -1.6% | $187K 2.3% | -$10K -0.1% | $295K 3.8% | $202K 2.8% |
| Per Share | ||||||||||
| EPS (Basic) | $0.09 | $0.13 | $0.08 | $0.03 | $0.12 | -$0.04 | $0.06 | $0.00 | $0.09 | $0.06 |
| EPS (Diluted) | $0.09 | $0.13 | $0.08 | $0.03 | $0.12 | -$0.04 | $0.06 | $0.00 | $0.09 | $0.06 |
| Weighted Avg Shares (Basic) | 3.5M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M |
| Weighted Avg Shares (Diluted) | 3.5M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M | 3.4M |
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 12 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.
EOD close · as of 2026-08-04
Where each multiple sits in its own 14-yr range · 98th 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 2% against ROIC 2% — 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
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 46.0 | 47.1 | 48.4 | 45.7 | 46.4 | 50.4 | 51.1 | 49.2 |
| Gross Profit | 54.0 | 52.9 | 51.6 | 54.3 | 53.6 | 49.6 | 48.9 | 50.8 |
| R&D | 10.8 | 9.8 | 11.0 | 10.2 | 9.3 | 11.4 | 10.8 | 9.8 |
| SG&A | 23.3 | 20.1 | 22.1 | 23.1 | 28.0 | 23.0 | 22.7 | 23.9 |
| Operating Income | -1.9 | -0.4 | -2.7 | 5.1 | -0.4 | -0.3 | -0.0 | 0.0 |
| Income Tax | -0.1 | -0.0 | -0.6 | 0.6 | -0.3 | 1.2 | -0.1 | 0.4 |
| Net Income | -0.1 | 2.3 | -1.6 | 4.8 | 1.1 | 3.2 | 4.8 | 3.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ELSE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -11.76pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | -0.6% | 11.8% (today's — no rate published for this year) | -12.4pts |
| FY2020 | -1.5% | 11.8% (today's — no rate published for this year) | -13.3pts |
| FY2021 | 5.8% | 8.2% | -2.4pts |
| FY2022 | -0.6% | 10.4% | -10.9pts |
| FY2023 | -0.6% | 10.4% | -11.0pts |
| FY2024 | -0.1% | 11.7% | -11.7pts |
| FY2025 | 0.0% | 10.8% | -10.7pts |
| Now | 2.1% | 11.8% | -9.7pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 54.1% | 2.4% | 2.8% |
| FY2017 | 54.8% | 5.2% | 3.8% |
| FY2018 | 54.0% | -1.9% | -0.1% |
| FY2019 | 52.9% | -0.4% | 2.3% |
| FY2020 | 51.6% | -2.7% | -1.6% |
| FY2021 | 54.3% | 5.1% | 4.8% |
| FY2022 | 53.6% | -0.4% | 1.1% |
| FY2023 | 49.6% | -0.3% | 3.2% |
| FY2024 | 48.9% | -0.0% | 4.8% |
| FY2025 | 50.8% | 0.0% | 3.0% |
Return on equity (2%) and return on invested capital (2%) 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.
Beta was borrowed from the sector median — too little price history to measure this company's own, so WACC is an estimate of an estimate.
Cash conversion of 0.49x sits below the level that would make the earnings clearly cash-backed.
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: share_based_compensation.
No debt, so there is no leverage path to distress.
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.
At $7.74, free cash flow must compound 25.36%/yr for 10 years. It has done 53.86%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 580.0% | 25.4% |
| FY2021 | 105.2% | 25.4% |
| FY2022 | −133.8% | 25.4% |
| FY2024 | −68.9% | 25.4% |
| FY2025 | 665.4% | 25.4% |
The implied rate has been matched or beaten in 3 of the last 5 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $306,000 | $306,000 |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $356,000 | $662,000 |
| Operating cash flow | $662,000 | $662,000 |
| Capex | −$65,000 | $597,000 |
| Free cash flow | $597,000 | $597,000 |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -7.7% | -7.6% | 0.1 points |
| FY2021 | 12.9% | 5.0% | -7.9 points |
| FY2022 | 4.9% | 15.5% | 10.6 points |
| FY2023 | -5.3% | 10.5% | 15.8 points |
| FY2024 | 9.6% | 2.0% | -7.5 points |
| FY2025 | 8.2% | 7.3% | -0.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 45.8 days | 159 days | 12.1 days | 192.7 days |
| FY2020 | 45.8 days | 155.5 days | 19.5 days | 181.8 days |
| FY2021 | 42.6 days | 154.5 days | 32.4 days | 164.7 days |
| FY2022 | 46.9 days | 152.1 days | 23.9 days | 175.1 days |
| FY2023 | 54.7 days | 148.3 days | 24.6 days | 178.4 days |
| FY2024 | 51 days | 149.6 days | 11.1 days | 189.5 days |
| FY2025 | 50.5 days | 148.5 days | 18.6 days | 180.4 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | 0.3 percent |
| FY2020 | -3.4 percent |
| FY2021 | -2.6 percent |
| FY2022 | 1.8 percent |
| FY2023 | -0.3 percent |
| FY2024 | 2.1 percent |
| FY2025 | -2.3 percent |