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Data as of Q3 2026
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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
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 24 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VREOF | $413M | — | 20.7× | 1.5× | 170% | 47.3% | -25.3% | -22.2% | -22.2% | -6.8× | — |
| TLRY | $390M | — | — | 0.4× | 11.5% | 28.4% | -13.3% | -7.5% | -7.0% | — | 55 |
| EBS | $370M | 7.8× | 3.8× | 0.5× | -28.8% | 56.1% | 7.1% | 10.1% | 4.8% | 1.9× | 29 |
| USNA | $265M | 24.7× | 1.5× | 0.3× | 8.3% | 78.3% | 1.2% | 2.0% | 2.0% | -2.3× | 18 |
| QTTB | $264M | 3.7× | 12.5× | 4.9× | — | — | 55.5% | 71.0% | 71.0% | -2.8× | 3 |
| ELTP | $248M | 7.7× | 4.3× | 1.7× | 77.1% | 50.4% | 30.1% | 45.4% | 45.4% | -0.6× | — |
| CRLBF | $233M | — | 29.1× | 0.4× | -9.5% | 49.5% | -20.6% | -39.8% | -17.6% | 17.9× | 3 |
| SIGA | $228M | 9.9× | 3.0× | 2.4× | -31.8% | 68.6% | 24.6% | 11.7% | 11.7% | -6.4× | 25 |
| PYXS | $226M | — | — | 16.3× | -14.2% | 82.8% | -575% | -149% | -149% | — | 10 |
| NATR | $216M | 11.6× | 3.2× | 0.5× | 5.7% | 72.4% | 4.1% | 12.1% | 12.1% | -2.4× | 19 |
| GLAS | $215M | — | — | 1.2× | -9.4% | 42.3% | -16.3% | -40.1% | -20.8% | — | — |
| PLX | $210M | — | — | 4.0× | -1.2% | 48.8% | -12.5% | -13.7% | -13.7% | — | 14 |
| AKBA | $206M | — | 2.8× | 0.9× | 47.5% | 83.3% | -2.3% | -16.4% | -6.6% | -5.5× | 27 |
| NAGE | $198M | 12.5× | 11.7× | 1.5× | 29.9% | 64.3% | 13.4% | 22.7% | 22.7% | 0.0× | 15 |
| CGEN | $193M | 5.4× | 3.2× | 2.7× | 161% | 87.3% | 48.6% | 34.4% | 34.4% | -2.9× | 12 |
| WHWK | $188M | — | — | 26.3× | -72.5% | 89.4% | -288% | -15.1% | -15.1% | — | 10 |
| NNNN | $163M | 25.3× | — | 18.9× | 5.6% | 87.2% | 74.1% | 21.2% | 21.2% | — | 1 |
| DERM | $153M | — | — | 2.5× | 10.2% | 66.2% | -18.5% | -35.9% | -20.0% | — | 4 |
| MGNX | $152M | — | — | 1.0× | -0.3% | 100% | -49.9% | -134% | -134% | — | 18 |
| CHRS | $139M | 0.6× | — | 3.3× | 59.8% | 67.2% | — | 275% | 275% | — | 21 |
| BGM | $127M | — | — | 3.4× | 51.1% | 16.6% | -52.6% | -5.1% | -5.1% | — | — |
| BDTX | $107M | 4.8× | 6.7× | 1.5× | — | — | 32.0% | 19.9% | 19.9% | -1.6× | 16 |
| ORGO | $105M | 5.5× | 0.2× | 0.2× | 17.0% | — | 6.6% | 12.3% | 12.3% | -1.6× | 18 |
| VXRT | $102M | 6.0× | 1.8× | 0.4× | 727% | — | 6.9% | 18.6% | 18.6% | -3.0× | 2 |
| FTLF | $74M | 39.5× | 21.5× | 4.7× | -75.3% | 43.1% | 12.7% | 4.6% | 4.6% | -0.5× | 4 |
Peers = companies sharing FTLF's sector (Medicinal Chemicals & Botanical Products) 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 $7.84 today, the market must believe free cash flow compounds -0.1%/yr for a decade (off $7.0M on the 3-yr avg basis).
The market's -0.1% is more conservative than its 9-yr track record.
Default is 10.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.01B shares (market data) · net debt -$1.6M
mean 311.8% · volatility σ 629% · implied rate exceeded in 4/9 yrs
Central path = implied -0.1%/yr growth; shaded band = ±1σ (629%) 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 $7.4M 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. 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.
EOD close · as of 2026-10-30
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 | $15.9M 100.0% | $64.5M 100.0% | $52.7M 100.0% | $28.8M 100.0% | $27.9M 100.0% | $21.7M 100.0% | $19.5M 100.0% | $17.1M 100.0% | $17.8M 100.0% | $25.3M 100.0% |
| Cost of Revenue | $9.1M 56.9% | $36.4M 56.4% | $31.3M 59.3% | $16.8M 58.2% | $15.4M 55.2% | $12.3M 56.8% | $11.4M 58.7% | $10.3M 60.5% | $12.7M 71.4% | $15.2M 60.2% |
| Cost of Products | — | — | — | — | — | — | — | — | $12.7M 71.4% | $15.2M 60.2% |
| Gross Profit | $6.9M 43.1% | $28.1M 43.6% | $21.4M 40.7% | $12.0M 41.8% | $12.5M 44.8% | $9.5M 43.9% | $8.0M 40.9% | $6.7M 39.5% | $5.1M 28.6% | $10.1M 39.8% |
| Selling, General & Admin | $2.5M 15.8% | $10.0M 15.5% | $7.9M 15.0% | $6.0M 20.9% | $6.2M 22.3% | $3.0M 14.0% | $3.0M 15.6% | $3.3M 19.5% | $4.2M 23.5% | $5.0M 19.8% |
| Total Operating Expenses | $3.9M 24.6% | $15.0M 23.2% | $13.9M 26.3% | $6.3M 22.0% | $6.3M 22.5% | $5.2M 23.9% | $5.5M 28.1% | $6.1M 35.7% | $14.0M 78.9% | $9.6M 37.9% |
| Operating Income | $3.0M 18.6% | $13.1M 20.3% | $7.5M 14.3% | $5.7M 19.8% | $6.2M 22.3% | $4.3M 20.0% | $2.5M 12.8% | $653K 3.8% | -$9.0M -50.3% | $472K 1.9% |
| Interest Expense | $218K 1.4% | $1.4M 2.1% | $1.0M 1.9% | $0 0.0% | — | $15K 0.1% | $47K 0.2% | $133K 0.8% | $112K 0.6% | $109K 0.4% |
| Interest & Investment Income | $98K 0.6% | $69K 0.1% | — | — | — | $9K 0.0% | $0 0.0% | — | — | — |
| Other Income (Expense), net | -$239K -1.5% | -$1.2M -1.9% | -$547K -1.0% | $121K 0.4% | $478K 1.7% | $64K 0.3% | $124K 0.6% | -$133K -0.8% | -$120K -0.7% | -$104K -0.4% |
| Pretax Income | $2.7M 17.1% | $11.9M 18.4% | $7.0M 13.3% | $5.8M 20.2% | $6.7M 24.0% | $4.4M 20.3% | $2.6M 13.4% | $520K 3.0% | -$9.1M -51.0% | $368K 1.5% |
| Income Tax Expense | $701K 4.4% | $2.9M 4.5% | $1.7M 3.2% | $1.4M 4.8% | $1.3M 4.7% | -$4.4M -20.3% | $7K 0.0% | $11K 0.1% | $689K 3.9% | $0 0.0% |
| Net Income | $6.3M 39.7% | $9.0M 13.9% | $5.3M 10.0% | $4.4M 15.4% | $5.4M 19.4% | $8.8M 40.6% | $2.6M 13.4% | $509K 3.0% | $509K 2.9% | $368K 1.5% |
| Per Share | ||||||||||
| EPS (Basic) | $0.22 | $0.98 | $0.59 | $0.97 | $1.23 | $2.08 | $2.48 | $0.37 | -$0.93 | $0.04 |
| EPS (Diluted) | $0.20 | $0.91 | $0.54 | $0.89 | $1.13 | $1.94 | $2.33 | $0.37 | -$0.93 | $0.04 |
| Weighted Avg Shares (Basic) | 9.2M | 9.2M | 9.0M | 5K | 4.4M | 4.2M | 1.0M | 1.1M | 10.5M | 10.3M |
| Weighted Avg Shares (Diluted) | 9.9M | 9.9M | 9.8M | 5K | 4.8M | 4.5M | 1.1M | 1.1M | 10.5M | 10.3M |
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.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $4.5M covers the $3.4M due within a year 1.3× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
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. Maturity ladder from the SEC long-term-debt repayment schedule. 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.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-28 | York Jakob CHIEF FINANCIAL OFFICER | Grant | 4,000 | $0.00 | — |
| 2026-08-19 | Pappas Shannon K. Director | Open-market buyindirect | 1,000 | $10.25 | $10k |
| 2026-05-15 | 3 co-filers President | Grant | 28,500 | — | — |
| 2026-05-15 | 3 co-filers President | Grant | 46,500 | — | — |
| 2026-05-15 | 3 co-filers President | Grant | 50,000 | — | — |
| 2026-04-10 | Lingenbrink Matthew Director | Open-market buy | 3,000 | $9.76 | $29k |
| 2026-04-10 | Dawson Grant Robert Director | Open-market buy | 3,000 | $9.98 | $30k |
| 2026-01-15 | Yakatan Seth Director | Plan purchase90d late | 164 | $15.36 | $3k |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 72th 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 5% against ROIC 5% — 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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 60.5 | 58.7 | 56.8 | 55.2 | 58.2 | 59.3 | 56.4 | 56.9 |
| Gross Profit | 39.5 | 40.9 | 43.9 | 44.8 | 41.8 | 40.7 | 43.6 | 43.1 |
| SG&A | 19.5 | 15.6 | 14.0 | 22.3 | 20.9 | 15.0 | 15.5 | 15.8 |
| Operating Income | 3.8 | 12.8 | 20.0 | 22.3 | 19.8 | 14.3 | 20.3 | 18.6 |
| Income Tax | 0.1 | 0.0 | -20.3 | 4.7 | 4.8 | 3.2 | 4.5 | 4.4 |
| Net Income | 3.0 | 13.4 | 40.6 | 19.4 | 15.4 | 10.0 | 13.9 | 39.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FTLF: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -6.7pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 56.4% | 10.8% (today's — no rate published for this year) | 45.5pts |
| FY2020 | 52.9% | 10.8% (today's — no rate published for this year) | 42.0pts |
| FY2021 | 57.4% | 10.8% (today's — no rate published for this year) | 46.5pts |
| FY2022 | 48.8% | 10.8% (today's — no rate published for this year) | 37.9pts |
| FY2023 | 13.3% | 7.8% | 5.5pts |
| FY2024 | 21.3% | 8.6% | 12.7pts |
| FY2025 | 5.2% | 10.3% | -5.1pts |
| Now | 4.6% | 10.8% | -6.2pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 39.8% | 1.9% | 1.5% |
| FY2017 | 28.6% | -50.3% | 2.9% |
| FY2018 | 39.5% | 3.8% | 3.0% |
| FY2019 | 40.9% | 12.8% | 13.4% |
| FY2020 | 43.9% | 20.0% | 40.6% |
| FY2021 | 44.8% | 22.3% | 19.4% |
| FY2022 | 41.8% | 19.8% | 15.4% |
| FY2023 | 40.7% | 14.3% | 10.0% |
| FY2024 | 43.6% | 20.3% | 13.9% |
| FY2025 | 43.1% | 18.6% | 12.7% |
Return on equity (5%) and return on invested capital (5%) 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.
$19M of goodwill — 36% 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.
ROIC ex-goodwill is 6.5% against 4.15% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 1.45x of reported profit into cash — adequate, without much margin.
The cash conversion cycle has lengthened +639 days over 3 years to 781 — that many more days of the company's own cash funding the same volume of business.
Missing from our data, so excluded from this answer: share_based_compensation.
Covers interest 9.5x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 13.57x |
| 5% | 12.89x |
| 10% | 12.21x |
| 15% | 11.53x |
| 20% | 10.86x |
| 25% | 10.18x |
| 30% | 9.50x |
| 35% | 8.82x |
| 40% | 8.14x |
| 45% | 7.46x |
| 50% | 6.78x |
| 55% | 6.11x |
| 60% | 5.43x |
This schedule comes from a filing dated 2024-12-31, 668 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2024-12-31 (10-Q); cash from the 2024-12-31 balance sheet; FCF from FY2024.
Balance sheet at 2024-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $705,000 of the $705,000 total — a fixed obligation that does not appear in a headline debt figure.
At $7.91, free cash flow must compound 0.16%/yr for 10 years. It has done 21.84%/yr over 6 years, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 153.0% | 0.2% |
| FY2021 | −21.7% | 0.2% |
| FY2022 | −7.8% | 0.2% |
| FY2023 | −0.4% | 0.2% |
| FY2024 | 133.3% | 0.2% |
| FY2025 | −22.9% | 0.2% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2025, so part of it measures the restatement rather than the business.
| Step | Amount | Running total |
|---|---|---|
| Net income | $2M | $2M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $5M | $7M |
| Operating cash flow | $7M | $7M |
| Capex | −$42,000 | $7M |
| Free cash flow | $7M | $7M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 11.5% | 4.6% | -6.9 points |
| FY2021 | 28.4% | -47.4% | -75.8 points |
| FY2022 | 3.2% | -25.4% | -28.6 points |
| FY2023 | 83.0% | 190.2% | 107.2 points |
| FY2024 | 22.3% | -20.5% | -42.9 points |
| FY2025 | -75.3% | 439.1% | 514.3 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 32.2 days | 107.2 days | 64.4 days | 74.9 days |
| FY2020 | 30.2 days | 104.3 days | 95.9 days | 38.5 days |
| FY2021 | 12.4 days | 154.4 days | 68.2 days | 98.6 days |
| FY2022 | 8.9 days | 198.2 days | 65.2 days | 141.9 days |
| FY2023 | 14.2 days | 106.1 days | 38.1 days | 82.2 days |
| FY2024 | 9.2 days | 111.1 days | 40.8 days | 79.5 days |
| FY2025 | 200.8 days | 858.9 days | 278.4 days | 781.3 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | 5.8 percent |
| FY2020 | 18.7 percent |
| FY2021 | 4.3 percent |
| FY2022 | 1.2 percent |
| FY2023 | 1.9 percent |
| FY2024 | -1.1 percent |
| FY2025 | -5.1 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 2 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.