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Insufficient data to determine institutional momentum.
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $7.00 today, the market must believe free cash flow compounds -5.0%/yr for a decade (off $39.9M on the 3-yr avg basis).
On the basis ($37.0M) the requirement is -4.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is 6.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.06B shares (market data) · net debt $109.2M
mean -130.0% · volatility σ 174% · implied rate exceeded in 2/6 yrs
Central path = implied -5.0%/yr growth; shaded band = ±1σ (174%) 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.
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
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $164K buybacks = $164K returned on -$60.5M 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: -25%. 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 2026-10-08
How a revenue dollar becomes profit — FY2026
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 | FY2026 | FY2024 | FY2023 | FY2022 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.00B 100.0% | $1.14B 100.0% | $1.41B 100.0% | $1.68B 100.0% | $1.87B 100.0% | $1.61B 100.0% | $2.22B 100.0% | $2.54B 100.0% | $2.79B 100.0% | $3.04B 100.0% |
| Cost of Revenue | $441.3M 43.9% | $547.8M 47.8% | $732.8M 51.9% | $851.8M 50.6% | $903.7M 48.3% | $843.0M 52.3% | $1.12B 50.4% | $1.20B 47.3% | $1.43B 51.3% | $1.46B 48.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $1.43B 51.3% | $1.46B 48.1% |
| Gross Profit | $563.1M 56.1% | $597.2M 52.2% | $679.6M 48.1% | $830.7M 49.4% | $966.4M 51.7% | $770.4M 47.7% | $1.10B 49.6% | $1.34B 52.7% | $1.36B 48.7% | $1.58B 51.9% |
| Research & Development | $0 0.0% | $0 0.0% | $19.4M 1.4% | $29.1M 1.7% | $27.2M 1.5% | $25.9M 1.6% | $32.4M 1.5% | $38.2M 1.5% | $42.8M 1.5% | $38.6M 1.3% |
| Selling, General & Admin | $540.1M 53.8% | $638.8M 55.8% | $777.2M 55.0% | $823.7M 49.0% | $842.6M 45.1% | $835.1M 51.8% | $1.07B 48.4% | $1.22B 48.2% | $1.33B 47.6% | $1.42B 46.8% |
| Total Operating Expenses | $582.2M 58.0% | $701.1M 61.2% | $822.6M 58.2% | $832.2M 49.5% | $873.7M 46.7% | $905.7M 56.1% | $1.13B 50.9% | $1.28B 50.3% | $1.78B 64.0% | $1.45B 47.7% |
| Operating Income | -$19.1M -1.9% | -$103.9M -9.1% | -$143.0M -10.1% | -$1.5M -0.1% | $92.6M 5.0% | -$135.3M -8.4% | -$28.4M -1.3% | $62.7M 2.5% | -$424.3M -15.2% | $127.1M 4.2% |
| Interest Expense | $20.2M 2.0% | $19.0M 1.7% | $21.8M 1.5% | $19.2M 1.1% | $25.1M 1.3% | $31.8M 2.0% | $29.9M 1.3% | $42.5M 1.7% | $43.2M 1.5% | $26.9M 0.9% |
| Other Income (Expense), net | -$10.4M -1.0% | $4.9M 0.4% | $8.7M 0.6% | -$1.4M -0.1% | -$14.5M -0.8% | -$4.8M -0.3% | $27.0M 1.2% | -$38K -0.0% | $13.7M 0.5% | $14.1M 0.5% |
| Pretax Income | -$49.8M -5.0% | -$118.1M -10.3% | -$156.1M -11.1% | -$22.1M -1.3% | $53.1M 2.8% | -$172.0M -10.7% | -$31.3M -1.4% | $20.2M 0.8% | -$453.8M -16.3% | $114.3M 3.8% |
| Income Tax Expense | $28.1M 2.8% | -$11.8M -1.0% | $522K 0.0% | $21.4M 1.3% | $26.4M 1.4% | -$76.0M -4.7% | $18.7M 0.8% | $21.1M 0.8% | $19.8M 0.7% | $28.7M 0.9% |
| Net Income | -$77.8M -7.7% | -$106.3M -9.3% | -$156.7M -11.1% | -$43.5M -2.6% | $26.6M 1.4% | -$95.9M -5.9% | -$50.0M -2.3% | -$938K -0.0% | -$473.6M -17.0% | $85.6M 2.8% |
| Per Share | ||||||||||
| EPS (Basic) | -$1.45 | -$1.94 | -$3.00 | -$0.85 | $0.49 | -$1.88 | -$1.04 | -$0.07 | -$9.87 | $1.64 |
| EPS (Diluted) | -$1.45 | -$1.94 | -$3.00 | -$0.85 | $0.48 | -$1.88 | -$1.04 | -$0.07 | -$9.87 | $1.63 |
| Weighted Avg Shares (Basic) | 54.1M | 53.0M | 52.3M | 51.8M | 52.0M | 51.1M | 50.2M | 49.2M | 48.5M | 48.1M |
| Weighted Avg Shares (Diluted) | 54.1M | 53.0M | 52.3M | 51.8M | 52.8M | 51.1M | 50.2M | 49.2M | 48.5M | 48.3M |
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 2026-10-08
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE -76% against ROIC -25% — -50% 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 -61.9% — 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
High operating leverage: profit moved 6.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2021 | FY2022 | FY2022 | FY2023 | FY2024 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 47.3 | 50.4 | 52.3 | 48.3 | 50.6 | 51.9 | 47.8 | 43.9 |
| Gross Profit | 52.7 | 49.6 | 47.7 | 51.7 | 49.4 | 48.1 | 52.2 | 56.1 |
| R&D | 1.5 | 1.5 | 1.6 | 1.5 | 1.7 | 1.4 | 0.0 | 0.0 |
| SG&A | 48.2 | 48.4 | 51.8 | 45.1 | 49.0 | 55.0 | 55.8 | 53.8 |
| Operating Income | 2.5 | -1.3 | -8.4 | 5.0 | -0.1 | -10.1 | -9.1 | -1.9 |
| Income Tax | 0.8 | 0.8 | -4.7 | 1.4 | 1.3 | 0.0 | -1.0 | 2.8 |
| Net Income | -0.0 | -2.3 | -5.9 | 1.4 | -2.6 | -11.1 | -9.3 | -7.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FOSL: 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 $95.8M covers the $4.0M due within a year 24.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-01-03 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~9.9% on $205.1M of debt.
Cash of $95.8M fully covers short-term debt of $4.0M.
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.
Ranked against 39 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AORT | $1.0B | 101.0× | 21.1× | 2.3× | 13.6% | 64.4% | 2.2% | 2.2% | 1.5% | 2.7× | 202 |
| PRCT | $1.0B | — | — | 3.3× | 37.2% | 63.7% | -31.0% | -26.1% | -22.9% | — | 249 |
| ENOV | $1.0B | — | 10.3× | 0.5× | 6.7% | 59.8% | -52.7% | -79.5% | -42.5% | 5.7× | 247 |
| BBNX | $940M | — | — | 9.4× | 53.9% | 55.4% | -73.0% | -25.5% | -25.5% | — | 139 |
| KODK | $939M | — | 28.0× | 0.9× | 2.5% | 21.7% | -12.0% | -20.8% | -15.6% | -4.4× | 176 |
| CBLL | $888M | — | — | 10.0× | 36.1% | 87.9% | -60.0% | -34.4% | -34.4% | — | 123 |
| BVS | $867M | 38.5× | 11.0× | 1.5× | -0.9% | 68.3% | 4.0% | 12.3% | 4.8% | 2.4× | 152 |
| SIBN | $845M | — | — | 4.2× | 20.2% | 79.6% | -9.4% | -10.6% | -8.9% | — | 164 |
| FEIM | $842M | — | — | 13.3× | -9.4% | 29.1% | -1.4% | -1.6% | -1.6% | — | 140 |
| INMD | $810M | 9.8× | 5.9× | 2.2× | -6.2% | 78.5% | 25.3% | 13.7% | 13.7% | -3.5× | 185 |
| TRNS | $809M | 151.6× | 22.9× | 2.4× | 19.2% | 32.6% | 1.6% | 1.8% | 1.3% | 2.4× | 168 |
| MOV | $714M | 27.3× | — | 1.1× | 2.7% | 54.2% | 4.0% | 5.2% | 5.2% | — | 178 |
| MLAB | $705M | 104.2× | 31.4× | 2.8× | 3.4% | 63.5% | 2.7% | 3.6% | 2.6% | 1.7× | 154 |
| CTKB | $697M | — | — | 3.5× | 0.5% | 51.8% | -33.0% | -19.5% | -19.5% | — | 152 |
| MDXG | $674M | 14.4× | 6.7× | 1.6× | 20.0% | 82.6% | 11.6% | 18.9% | 17.7% | -1.9× | 225 |
| KIDS | $568M | — | — | 2.4× | 15.4% | 73.1% | -16.8% | -11.4% | -8.8% | — | 118 |
| SSII | $526M | — | — | 12.4× | 106% | 46.0% | -28.5% | -31.7% | -31.7% | — | 24 |
| DCTH | $522M | 214.9× | — | 6.1× | 129% | 86.2% | 3.2% | 2.4% | 2.4% | — | 120 |
| TCMD | $501M | 27.0× | 11.6× | 1.5× | 12.5% | 75.9% | 5.8% | 8.7% | 8.7% | -2.3× | 176 |
| MASS | $477M | 21.4× | — | 8.5× | 17.7% | 50.6% | 34.7% | 13.6% | 13.6% | — | 111 |
| SENS | $477M | — | — | 13.5× | 56.9% | 44.7% | -196% | -113% | -71.5% | — | 109 |
| ANGO | $472M | — | — | 1.5× | 9.5% | 54.6% | -11.5% | -21.5% | -21.5% | — | 158 |
| SGHT | $467M | — | — | 6.0× | -3.1% | 86.2% | -49.7% | -60.1% | -36.9% | — | 115 |
| NPCE | $425M | — | — | 4.3× | 25.1% | 77.2% | -21.5% | -113% | -27.5% | — | 110 |
| FOSL | $414M | — | — | 0.4× | -12.3% | 56.1% | -7.7% | -75.7% | -25.3% | — | 110 |
Peers = companies sharing FOSL's sector (Watches, Clocks, Clockwork Operated Devices/Parts) 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.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 51.9% | 4.2% | 2.8% |
| FY2017 | 48.7% | -15.2% | -17.0% |
| FY2018 | 52.7% | 2.5% | -0.0% |
| FY2019 | 49.6% | -1.3% | -2.3% |
| FY2021 | 47.7% | -8.4% | -5.9% |
| FY2022 | 51.7% | 5.0% | 1.4% |
| FY2022 | 49.4% | -0.1% | -2.6% |
| FY2023 | 48.1% | -10.1% | -11.1% |
| FY2024 | 52.2% | -9.1% | -9.3% |
| FY2026 | 56.1% | -1.9% | -7.7% |
Return on equity is 50 points BELOW the return on invested capital, which means the equity base is carrying capital the operations are not earning on — usually cash, goodwill, or a recent raise.
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.
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 2026-01-03 (10-K); cash from the 2026-01-03 balance sheet; FCF from FY2026. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2026-01-03. 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 $7.00, free cash flow must compound -2.08%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2022 | −57.0% | −2.1% |
| FY2022 | −412.4% | −2.1% |
| FY2026 | −251.4% | −2.1% |
The implied rate of -2.08% has not been achieved in any of the last 3 years.