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Institutional ownership roughly stable: +0.03% change quarter-over-quarter.
Data as of Q1 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.
Top 4 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
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Revenue | $48.0M 100.0% | $36.5M 100.0% | $28.7M 100.0% |
| Cost of Revenue | $27.3M 57.0% | $20.8M 56.9% | $15.3M 53.2% |
| Gross Profit | $20.6M 43.0% | $15.7M 43.1% | $13.4M 46.8% |
| Research & Development | $1.5M 3.1% | $1.3M 3.6% | $1.5M 5.3% |
| Selling, General & Admin | $12.3M 25.6% | $10.5M 28.9% | $9.2M 32.0% |
| Operating Income | -$2.3M -4.9% | -$3.6M -10.0% | -$3.1M -10.9% |
| Interest Expense | $845K 1.8% | $543K 1.5% | $15K 0.1% |
| Other Income (Expense), net | $100K 0.2% | $866K 2.4% | $201K 0.7% |
| Pretax Income | -$2.2M -4.7% | -$2.8M -7.6% | -$2.9M -10.2% |
| Income Tax Expense | -$730K -1.5% | $456K 1.3% | -$751K -2.6% |
| Net Income | -$1.5M -3.1% | -$3.2M -8.9% | -$2.2M -7.5% |
| Per Share | |||
| EPS (Basic) | $-0.03 | $-0.09 | $-0.05 |
| EPS (Diluted) | $-0.03 | $-0.09 | $-0.05 |
| Weighted Avg Shares (Basic) | 44.5M | 37.7M | 46.2M |
| Weighted Avg Shares (Diluted) | 44.5M | 37.7M | 46.2M |
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 · book equity (no price)
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 data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling 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 + $0 buybacks = $0 returned on -$2M 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 3 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: -3%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 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 $7M is below the $18M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (20-F).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~2.9% on $29M of debt.
Cash of $7M is below short-term debt of $18M — relies on refinancing/operations.
Mostly short-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.
No current price collected.
Nothing notable to watch.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
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 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cost of Revenue | 53.2 | 56.9 | 57.0 |
| Gross Profit | 46.8 | 43.1 | 43.0 |
| R&D | 5.3 | 3.6 | 3.1 |
| SG&A | 32.0 | 28.9 | 25.6 |
| Operating Income | -10.9 | -10.0 | -4.9 |
| Income Tax | -2.6 | 1.3 | -1.5 |
| Net Income | -7.5 | -8.9 | -3.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FSTWF: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.