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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.
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.
Average free cash flow across the last 2 positive fiscal years (FY2023, FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $9.50 today, the market must believe free cash flow compounds 9.5%/yr for a decade (off $10.1M on the 3-yr avg basis).
Default is 10.1% — 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 $48.4M
mean 118.4% · volatility σ 450% · implied rate exceeded in 2/7 yrs
Central path = implied 9.5%/yr growth; shaded band = ±1σ (450%) 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.
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
Ranked against 13 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| J | $16.6B | 59.7× | — | 1.4× | 4.6% | 24.8% | 2.4% | 7.9% | 4.9% | — | 840 |
| MTZ | $15.6B | 38.4× | — | 1.1× | 16.2% | — | 2.8% | 12.2% | 12.2% | — | 880 |
| STRL | $13.9B | 48.3× | 28.5× | 5.6× | 17.7% | 23.0% | 11.7% | 26.2% | 20.7% | -0.2× | 834 |
| DY | $7.8B | 27.2× | — | 1.4× | 17.9% | — | 5.1% | 15.1% | 6.0% | — | 589 |
| FLR | $6.4B | — | — | 0.4× | -5.0% | -0.8% | -0.3% | -1.6% | -1.2% | — | 550 |
| GVA | $4.8B | 27.9× | 12.6× | 1.1× | 10.4% | 16.1% | 4.4% | 16.4% | 7.7% | 1.8× | 432 |
| ROAD | $4.6B | 43.9× | 16.4× | 1.6× | 54.2% | 15.6% | 3.6% | 11.2% | 4.0% | 4.0× | 342 |
| MYRG | $4.5B | 38.7× | 19.0× | 1.2× | 8.8% | 11.6% | 3.2% | 17.9% | 16.5% | -0.4× | 438 |
| KBR | $4.4B | 11.0× | 7.9× | 0.6× | 1.0% | 14.8% | 5.3% | 27.6% | 10.1% | 2.5× | 353 |
| PRIM | $4.2B | 15.5× | 8.3× | 0.6× | 19.0% | 10.7% | 3.6% | 16.4% | 12.8% | -0.1× | 429 |
| PLPC | $1.8B | 52.6× | 24.0× | 2.7× | 12.7% | 31.2% | 5.3% | 7.4% | 6.9% | 0.5× | 199 |
| CDNL | $353M | — | 3.9× | 0.8× | 44.7% | — | 5.0% | 38.8% | 38.8% | -1.5× | 152 |
| ORN | $348M | 143.3× | 12.5× | 0.4× | 7.0% | 12.4% | 0.3% | 1.6% | 1.5% | 0.2× | 175 |
| ESOA | $177M | 475.0× | 13.9× | 0.4× | 16.8% | 9.4% | — | — | — | 3.0× | 117 |
Peers = companies sharing ESOA's sector (Water, Sewer, Pipeline, Comm & Power Line Construction) 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.
Free-cash-flow coverage unavailable. Last year: $1.5M dividends + $844K buybacks = $2.3M returned on -$2.2M FCF.
3 consecutive years of dividend increases · 7%/yr.
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. 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.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $411.0M 100.0% | $351.9M 100.0% | $304.1M 100.0% | $197.6M 100.0% | $122.5M 100.0% | $119.2M 100.0% | $174.5M 100.0% | $135.5M 100.0% | $140.5M 100.0% | $155.5M 100.0% |
| Cost of Revenue | $372.2M 90.6% | $301.9M 85.8% | $267.3M 87.9% | $175.2M 88.7% | $109.5M 89.4% | $105.7M 88.7% | $161.9M 92.7% | $123.8M 91.4% | $132.7M 94.5% | $141.3M 90.9% |
| Gross Profit | $38.8M 9.4% | $50.0M 14.2% | $36.8M 12.1% | $22.4M 11.3% | $12.9M 10.6% | $13.5M 11.3% | $12.7M 7.3% | $11.6M 8.6% | $7.8M 5.5% | $14.2M 9.1% |
| Selling, General & Admin | $34.6M 8.4% | $30.1M 8.6% | $23.8M 7.8% | $15.9M 8.0% | $14.0M 11.5% | $9.8M 8.2% | $8.9M 5.1% | $7.7M 5.7% | $7.4M 5.3% | $7.3M 4.7% |
| Operating Income | $4.2M 1.0% | $19.8M 5.6% | $13.0M 4.3% | $6.5M 3.3% | -$1.1M -0.9% | $3.7M 3.1% | $3.8M 2.2% | $3.9M 2.9% | $382K 0.3% | $6.9M 4.4% |
| Interest Expense | $3.2M 0.8% | $2.2M 0.6% | $2.4M 0.8% | $988K 0.5% | $703K 0.6% | $486K 0.4% | $1.1M 0.6% | $917K 0.7% | $833K 0.6% | $875K 0.6% |
| Interest & Investment Income | — | — | $196 0.0% | $576 0.0% | $287K 0.2% | $53K 0.0% | $58K 0.0% | $132K 0.1% | — | — |
| Other Income (Expense), net | -$3.4M -0.8% | $13.7M 3.9% | -$2.7M -0.9% | -$480K -0.2% | $207K 0.2% | -$93K -0.1% | -$861K -0.5% | -$502K -0.4% | -$850K -0.6% | -$765K -0.5% |
| Pretax Income | $865K 0.2% | $33.5M 9.5% | $10.4M 3.4% | $6.0M 3.0% | -$917K -0.7% | $3.6M 3.0% | $3.0M 1.7% | $3.4M 2.5% | -$468K -0.3% | $6.1M 3.9% |
| Income Tax Expense | $485K 0.1% | $8.4M 2.4% | $3.0M 1.0% | $2.3M 1.1% | -$29K -0.0% | $1.1M 1.0% | $969K 0.6% | $910K 0.7% | -$80K -0.1% | $2.9M 1.9% |
| Net Income | — | — | — | — | — | — | — | $2.5M 1.9% | -$388K -0.3% | $3.2M 2.1% |
| Per Share | ||||||||||
| EPS (Basic) | $0.02 | $1.52 | $0.44 | $0.23 | -$0.09 | $0.15 | $0.12 | $0.15 | -$0.05 | $0.21 |
| EPS (Diluted) | $0.02 | $1.51 | $0.44 | $0.23 | -$0.07 | $0.12 | $0.10 | $0.13 | -$0.05 | $0.17 |
| Weighted Avg Shares (Basic) | 16.6M | 16.6M | 16.6M | 16.3M | 13.6M | 13.8M | 14.1M | 14.2M | 14.2M | 14.2M |
| Weighted Avg Shares (Diluted) | 16.7M | 16.6M | 16.7M | 16.3M | 17.0M | 17.2M | 17.5M | 17.7M | 14.2M | 17.7M |
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.
EOD close · as of 2026-10-14
Where each multiple sits in its own 14-yr range · 90th 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
ROIC is not available for this period, so the share of ROE attributable to leverage cannot be separated out.
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 | 91.4 | 92.7 | 88.7 | 89.4 | 88.7 | 87.9 | 85.8 | 90.6 |
| Gross Profit | 8.6 | 7.3 | 11.3 | 10.6 | 11.3 | 12.1 | 14.2 | 9.4 |
| SG&A | 5.7 | 5.1 | 8.2 | 11.5 | 8.0 | 7.8 | 8.6 | 8.4 |
| Operating Income | 2.9 | 2.2 | 3.1 | -0.9 | 3.3 | 4.3 | 5.6 | 1.0 |
| Income Tax | 0.7 | 0.6 | 1.0 | -0.0 | 1.1 | 1.0 | 2.4 | 0.1 |
| Net Income | 1.9 | — | — | — | — | — | — | — |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ESOA: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $12.2M is below the $21.9M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-09-30 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~5.3% on $60.7M of debt.
Cash of $12.2M is below short-term debt of $21.9M — relies on refinancing/operations.
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.
Earns -7.44pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 6.9% | 10.1% (today's — no rate published for this year) | -3.2pts |
| FY2020 | 8.9% | 10.1% (today's — no rate published for this year) | -1.2pts |
| FY2021 | -1.8% | 6.2% | -8.1pts |
| FY2022 | 7.2% | 6.8% | 0.4pts |
| FY2023 | 13.8% | 7.6% | 6.2pts |
| FY2024 | 16.8% | 7.8% | 9.0pts |
| FY2025 | 2.5% | 10.6% | -8.1pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 9.1% | 4.4% | 2.1% |
| FY2017 | 5.5% | 0.3% | -0.3% |
| FY2018 | 8.6% | 2.9% | 1.9% |
| FY2019 | 7.3% | 2.2% | not reported |
| FY2020 | 11.3% | 3.1% | not reported |
| FY2021 | 10.6% | -0.9% | not reported |
| FY2022 | 11.3% | 3.3% | not reported |
| FY2023 | 12.1% | 4.3% | not reported |
| FY2024 | 14.2% | 5.6% | not reported |
| FY2025 | 9.4% | 1.0% | not reported |
$10M of goodwill — 9% 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.
The spread has been narrowing over the last three years.
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.
Stressed coverage falls to 0.9x — below the level at which interest is reliably covered.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 1.31x |
| 5% | 1.25x |
| 10% | 1.18x |
| 15% | 1.12x |
| 20% | 1.05x |
| 25% | 0.99x |
| 30% | 0.92x |
| 35% | 0.85x |
| 40% | 0.79x |
| 45% | 0.72x |
| 50% | 0.66x |
| 55% | 0.59x |
| 60% | 0.53x |
Ladder as of 2025-09-30 (10-K); cash from the 2025-09-30 balance sheet; FCF from FY2025. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2025-09-30. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Free cash flow is negative, so debt service depends on the cash balance rather than on the business.
At $9.50, free cash flow must compound 9.65%/yr for 10 years. It has no positive compounding record to compare against, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 1090.4% | 9.6% |
| FY2021 | −145.8% | 9.6% |
| FY2023 | 244.2% | 9.6% |
| FY2024 | −3.2% | 9.6% |
| FY2025 | −122.3% | 9.6% |
The achieved growth rate spans a reporting-basis change in FY2021, so part of it measures the restatement rather than the business.