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Held by 484 of 6,047 reporting institutions (96th percentile) — extremely crowded.
Data as of Q2 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $149.15 today, the market must believe free cash flow compounds 48.4%/yr for a decade (off $33.1M normalized FCF).
The market's 48.4% is more optimistic than its 8-yr track record.
2-stage DCF · 0.08B shares · net debt -$91.1M
mean 86.9% · volatility σ 303% · implied rate exceeded in 2/8 yrs
Central path = implied 48.4%/yr growth; shaded band = ±1σ (303%) 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.
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.
Ranked against 751 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | $5.65T | 47.7× | 42.4× | 26.2× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | -0.0× | 5,775 |
| AAPL | $4.87T | 44.7× | 34.0× | 11.7× | 6.4% | 46.9% | 26.9% | 152% | 68.1% | 0.4× | 5,963 |
| MSFT | $3.84T | 28.8× | 20.4× | 11.6× | 17.8% | 67.9% | 40.3% | 30.2% | 27.7% | 0.1× | 6,047 |
| TSM | $2.45T | — | — | — | — | — | — | — | — | — | 3,461 |
| AVGO | $1.70T | 74.5× | 66.9× | 26.5× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 1.9× | 4,645 |
| MU | $1.21T | 141.6× | 67.1× | 32.5× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.1× | 3,808 |
| AMD | $1.03T | 239.2× | 245.0× | 29.9× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | -0.6× | 3,909 |
| INTC | $627.0B | — | 77.2× | 11.9× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 3.8× | 3,481 |
| PLTR | $453.6B | 299.6× | 314.0× | 101.3× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | -1.0× | 2,794 |
| CSCO | $442.4B | 33.7× | 28.9× | 7.0× | 11.8% | 64.5% | 21.0% | 26.4% | 16.6% | 1.4× | 3,939 |
| LRCX | $434.9B | 60.3× | 50.4× | 18.7× | 26.0% | 50.5% | 31.3% | 58.3% | 44.9% | -0.2× | 3,011 |
| ORCL | $431.4B | 24.4× | 14.4× | 6.4× | 17.3% | — | 25.4% | 40.2% | 34.4% | -0.8× | 3,403 |
| AMAT | $428.6B | 62.4× | 49.3× | 15.1× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | -0.1× | 3,408 |
| DELL | $357.7B | 64.8× | 33.8× | 3.1× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 1.8× | 2,058 |
| PANW | $329.9B | 1008.1× | 211.2× | 28.7× | 24.5% | 70.4% | 2.7% | 1.1% | 1.1% | -1.6× | 2,859 |
| ARM | $328.4B | 361.8× | 283.4× | 66.8× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | -2.4× | 957 |
| QH | $323.9B | — | — | 896.9× | -13.5% | 0.5% | -5.9% | -42.1% | -31.9% | — | — |
| CRWD | $276.5B | — | — | 57.5× | 21.7% | 74.7% | -3.4% | -3.7% | -3.1% | — | 2,385 |
| KLAC | $270.0B | 56.5× | — | 19.9× | 11.7% | 61.3% | 35.6% | 76.1% | 39.5% | — | 2,419 |
| TXN | $268.3B | 53.9× | 35.1× | 15.2× | 13.0% | 57.0% | 28.3% | 30.7% | 16.5% | 1.4× | 2,767 |
| ANET | $261.5B | 75.4× | 66.1× | 29.0× | 28.6% | 64.1% | 39.0% | 28.4% | 28.4% | -0.5× | 2,177 |
| SNDK | $251.8B | 23.3× | 19.7× | 12.4× | 175% | 71.5% | 56.5% | 72.7% | 72.7% | -0.4× | 1,763 |
| MRVL | $244.7B | 88.7× | 159.6× | 29.9× | 42.1% | 51.0% | 32.6% | 18.7% | 14.2% | 1.2× | 2,168 |
| SAP | $240.7B | — | — | — | — | — | — | — | — | — | 791 |
| APH | $214.4B | 26.0× | 32.2× | 9.3× | 51.7% | 36.9% | 18.5% | 31.8% | 14.8% | 0.6× | 2,245 |
| FORM | $11.7B | 216.2× | 122.1× | 14.8× | 2.8% | 39.3% | 6.9% | 5.3% | 5.2% | -1.0× | 484 |
Peers = companies sharing FORM's sector (Technology) 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.
EOD close · as of 2026-10-02
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 | $785.0M 100.0% | $763.6M 100.0% | $663.1M 100.0% | $747.9M 100.0% | $769.7M 100.0% | $693.6M 100.0% | $589.5M 100.0% | $529.7M 100.0% | $548.4M 100.0% | $383.9M 100.0% |
| Cost of Revenue | $476.1M 60.7% | $455.7M 59.7% | $404.5M 61.0% | $451.9M 60.4% | $446.9M 58.1% | $405.7M 58.5% | $352.0M 59.7% | $319.3M 60.3% | $332.8M 60.7% | $281.2M 73.3% |
| Gross Profit | $308.9M 39.3% | $307.9M 40.3% | $258.6M 39.0% | $296.0M 39.6% | $322.8M 41.9% | $287.9M 41.5% | $237.5M 40.3% | $210.3M 39.7% | $215.6M 39.3% | $102.7M 26.7% |
| Research & Development | $115.7M 14.7% | $121.9M 16.0% | $115.8M 17.5% | $109.2M 14.6% | $100.9M 13.1% | $89.0M 12.8% | $81.5M 13.8% | $75.0M 14.2% | $73.8M 13.5% | $57.5M 15.0% |
| Selling, General & Admin | $133.1M 17.0% | $141.8M 18.6% | $133.0M 20.1% | $131.9M 17.6% | $123.8M 16.1% | $115.1M 16.6% | $106.3M 18.0% | $99.3M 18.7% | $95.5M 17.4% | $73.4M 19.1% |
| Total Operating Expenses | $251.8M 32.1% | $263.7M 34.5% | $248.8M 37.5% | $241.1M 32.2% | $224.7M 29.2% | $204.1M 29.4% | $187.8M 31.9% | $174.2M 32.9% | $169.3M 30.9% | $150.6M 39.2% |
| Operating Income | $57.1M 7.3% | $64.8M 8.5% | $82.8M 12.5% | $54.9M 7.3% | $98.0M 12.7% | $83.8M 12.1% | $49.7M 8.4% | $36.1M 6.8% | $46.3M 8.4% | -$47.9M -12.5% |
| Interest Expense | $521K 0.1% | $418K 0.1% | $421K 0.1% | $579K 0.1% | $602K 0.1% | $864K 0.1% | $1.9M 0.3% | $3.3M 0.6% | $4.5M 0.8% | $2.4M 0.6% |
| Interest & Investment Income | $10.6M 1.4% | $14.1M 1.8% | $7.2M 1.1% | $2.2M 0.3% | $569K 0.1% | $1.5M 0.2% | $2.7M 0.5% | $1.4M 0.3% | $548K 0.1% | $327K 0.1% |
| Other Income (Expense), net | $2.2M 0.3% | $939K 0.1% | -$285K -0.0% | $1.3M 0.2% | $495K 0.1% | $750K 0.1% | $602K 0.1% | -$224K -0.0% | -$152K -0.0% | -$224K -0.1% |
| Pretax Income | $69.4M 8.8% | $79.4M 10.4% | $89.3M 13.5% | $57.9M 7.7% | $98.5M 12.8% | $85.2M 12.3% | $51.1M 8.7% | $33.9M 6.4% | $42.2M 7.7% | -$50.2M -13.1% |
| Income Tax Expense | $13.0M 1.7% | $9.8M 1.3% | $6.9M 1.0% | $7.1M 1.0% | $14.6M 1.9% | $6.7M 1.0% | $11.7M 2.0% | -$70.1M -13.2% | $1.3M 0.2% | -$43.6M -11.4% |
| Net Income | $54.4M 6.9% | $69.6M 9.1% | $82.4M 12.4% | $50.7M 6.8% | $83.9M 10.9% | $78.5M 11.3% | $39.3M 6.7% | $104.0M 19.6% | $40.9M 7.5% | -$6.6M -1.7% |
| Per Share | ||||||||||
| EPS (Basic) | $0.70 | $0.90 | $1.06 | $0.65 | $1.08 | $1.02 | $0.52 | $1.42 | $0.57 | $-0.10 |
| EPS (Diluted) | $0.69 | $0.89 | $1.05 | $0.65 | $1.06 | $0.99 | $0.51 | $1.38 | $0.55 | $-0.10 |
| Weighted Avg Shares (Basic) | 77.3M | 77.3M | 77.4M | 77.6M | 77.8M | 76.7M | 75.0M | 73.5M | 72.3M | 64.9M |
| Weighted Avg Shares (Diluted) | 78.3M | 78.4M | 78.2M | 78.2M | 79.1M | 79.0M | 77.3M | 75.2M | 74.2M | 64.9M |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $26.2M buybacks = $26.2M returned on $11.7M 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.
Modest payoff on reinvested capital. 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 $103.3M covers all $12.3M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-27 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~4.3% on $12.2M of debt.
Cash of $103.3M fully covers short-term debt of $1.1M.
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 2026-10-02
No standout strengths flagged.
No material risks flagged.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
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 | 60.3 | 59.7 | 58.5 | 58.1 | 60.4 | 61.0 | 59.7 | 60.7 |
| Gross Profit | 39.7 | 40.3 | 41.5 | 41.9 | 39.6 | 39.0 | 40.3 | 39.3 |
| R&D | 14.2 | 13.8 | 12.8 | 13.1 | 14.6 | 17.5 | 16.0 | 14.7 |
| SG&A | 18.7 | 18.0 | 16.6 | 16.1 | 17.6 | 20.1 | 18.6 | 17.0 |
| Operating Income | 6.8 | 8.4 | 12.1 | 12.7 | 7.3 | 12.5 | 8.5 | 7.3 |
| Income Tax | -13.2 | 2.0 | 1.0 | 1.9 | 1.0 | 1.0 | 1.3 | 1.7 |
| Net Income | 19.6 | 6.7 | 11.3 | 10.9 | 6.8 | 12.4 | 9.1 | 6.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FORM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.