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Held by 213 of 6,047 reporting institutions (92th percentile) — extremely crowded.
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.
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
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.
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 $182.8M 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 6 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 28%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 6 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
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 |
|---|---|---|---|---|---|---|
| Revenue | $1.29B 100.0% | $1.16B 100.0% | $703.8M 100.0% | $490.1M 100.0% | $414.2M 100.0% | $275.5M 100.0% |
| Gross Profit | $300.7M 23.3% | $285.2M 24.6% | $188.6M 26.8% | $83.1M 17.0% | $89.6M 21.6% | $75.1M 27.3% |
| Research & Development | $10.8M 0.8% | $9.8M 0.8% | $3.9M 0.6% | $1.4M 0.3% | $0 0.0% | $0 0.0% |
| Selling, General & Admin | $46.6M 3.6% | $73.9M 6.4% | $30.0M 4.3% | $22.6M 4.6% | $24.5M 5.9% | $8.7M 3.2% |
| Total Operating Expenses | $155.7M 12.1% | $154.6M 13.3% | $78.6M 11.2% | $48.1M 9.8% | $50.2M 12.1% | $30.9M 11.2% |
| Operating Income | $145.0M 11.2% | $130.6M 11.3% | $110.1M 15.6% | $35.0M 7.1% | $39.4M 9.5% | $44.2M 16.0% |
| Interest Expense | $200K 0.0% | $256K 0.0% | $1.2M 0.2% | $568K 0.1% | $309K 0.1% | $46K 0.0% |
| Interest & Investment Income | $11.7M 0.9% | $9.4M 0.8% | $3.3M 0.5% | $472K 0.1% | — | — |
| Other Income (Expense), net | $4.5M 0.3% | $2.1M 0.2% | $767K 0.1% | $6K 0.0% | $156K 0.0% | $56K 0.0% |
| Pretax Income | $161.2M 12.5% | $140.6M 12.1% | $115.0M 16.3% | $31.2M 6.4% | $37.7M 9.1% | $45.3M 16.4% |
| Income Tax Expense | $23.8M 1.8% | $14.8M 1.3% | $20.9M 3.0% | $7.2M 1.5% | $8.5M 2.0% | $7.8M 2.8% |
| Net Income | $137.4M 10.6% | $125.8M 10.8% | $94.1M 13.4% | $24.0M 4.9% | $29.3M 7.1% | $37.5M 13.6% |
| Per Share | ||||||
| EPS (Basic) | $3.60 | $3.06 | $2.31 | $0.60 | $0.88 | $1.36 |
| EPS (Diluted) | $3.59 | $3.05 | $2.30 | $0.60 | $0.88 | $1.36 |
| Weighted Avg Shares (Basic) | 38.2M | 41.1M | 40.8M | 24.4M | 10.2M | 9.5M |
| Weighted Avg Shares (Diluted) | 38.2M | 41.2M | 40.9M | 24.4M | 10.2M | 9.5M |
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 4-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 4-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 28% against ROIC 28% — 0% 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 30.8% — 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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Gross Profit | 27.3 | 21.6 | 17.0 | 26.8 | 24.6 | 23.3 |
| R&D | 0.0 | 0.0 | 0.3 | 0.6 | 0.8 | 0.8 |
| SG&A | 3.2 | 5.9 | 4.6 | 4.3 | 6.4 | 3.6 |
| Operating Income | 16.0 | 9.5 | 7.1 | 15.6 | 11.3 | 11.2 |
| Income Tax | 2.8 | 2.0 | 1.5 | 3.0 | 1.3 | 1.8 |
| Net Income | 13.6 | 7.1 | 4.9 | 13.4 | 10.8 | 10.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on GCT: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
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 $57.75 today, the market must believe free cash flow compounds 3.3%/yr for a decade (off $151.5M on the 3-yr avg basis).
On the basis ($143.4M) the requirement is 4.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 3.3% is more conservative than its 5-yr track record.
Default is 12.3% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.04B shares (market data) · net debt -$379.8M
mean 150.0% · volatility σ 281% · implied rate exceeded in 4/5 yrs
Central path = implied 3.3%/yr growth; shaded band = ±1σ (281%) 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.
How much the company owes, how it's trended, and how comfortably it's serviced.
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. Educational — not a recommendation.
Ranked against 15 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CPNG | $25.9B | 130.9× | 21.4× | 0.8× | 14.1% | 29.4% | 0.6% | 4.5% | 3.3% | -4.8× | 578 |
| CDW | $18.8B | 18.6× | 12.2× | 0.8× | 6.8% | 21.7% | 4.8% | 40.9% | 13.0% | 2.6× | 727 |
| W | $14.4B | — | 50.1× | 1.1× | 5.1% | 30.2% | -2.5% | 11.3% | -63.9% | 5.6× | 454 |
| CHWY | $8.4B | 40.1× | 19.6× | 0.7× | 6.2% | 29.8% | 1.8% | 44.7% | 44.7% | -2.2× | 509 |
| VIPS | $6.1B | 1.3× | 2.6× | 0.4× | 2.0% | 23.1% | 6.8% | 17.7% | 15.5% | -1.8× | 275 |
| NSIT | $4.9B | 34.2× | 10.2× | 0.6× | -5.2% | 21.4% | 1.9% | 9.5% | 9.5% | -0.8× | 315 |
| PTRN | $3.1B | — | 65.9× | 1.2× | 39.3% | 43.6% | 0.6% | 2.8% | 2.8% | -6.8× | 143 |
| GCT | $2.1B | 16.1× | 11.0× | 1.6× | 11.1% | 23.3% | 10.6% | 28.3% | 28.3% | -2.5× | 213 |
| RVLV | $1.5B | 25.1× | 15.8× | 1.3× | 8.5% | 53.5% | 5.0% | 12.0% | 12.0% | -3.7× | 205 |
| HNST | $544M | — | — | 1.5× | -1.9% | 33.3% | -4.2% | -9.2% | -9.2% | — | 148 |
| SFIX | $319M | — | — | 0.3× | -5.3% | 44.4% | -2.3% | -14.2% | -14.2% | — | 187 |
| TDUP | $289M | — | — | 0.9× | 19.5% | 79.4% | -6.5% | -34.1% | -26.1% | — | 176 |
| BZUN | $194M | — | 6.0× | 0.1× | 10.2% | 74.1% | -2.4% | -6.6% | -5.0% | 1.1× | 68 |
| BBBY | $154M | — | — | 0.1× | -25.1% | 24.7% | -8.1% | -38.9% | -36.3% | — | — |
| DIBS | $133M | — | — | 1.5× | 1.5% | 73.0% | -15.2% | -14.6% | -14.6% | — | 86 |
| AKA | $115M | — | — | 0.2× | 4.4% | 57.3% | -5.2% | -32.2% | -15.1% | — | 21 |
Peers = companies sharing GCT's sector (Retail-Catalog & Mail-Order Houses) 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.
Earns 6.46pts above its cost of capital, but margins are compressing.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2020 | 61.3% | 12.3% (today's — no rate published for this year) | 49.1pts |
| FY2021 | 67.9% | 7.0% | 61.0pts |
| FY2022 | 14.3% | 8.1% | 6.2pts |
| FY2023 | 17.9% | 7.8% | 10.2pts |
| FY2024 | 17.1% | 11.0% | 6.1pts |
| FY2025 | 20.6% | 9.9% | 10.8pts |
| Now | 28.3% | 12.3% | 16.0pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2020 | 27.3% | 16.0% | 13.6% |
| FY2021 | 21.6% | 9.5% | 7.1% |
| FY2022 | 17.0% | 7.1% | 4.9% |
| FY2023 | 26.8% | 15.6% | 13.4% |
| FY2024 | 24.6% | 11.3% | 10.8% |
| FY2025 | 23.3% | 11.2% | 10.6% |
Return on equity (28%) and return on invested capital (28%) 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.
$13M of goodwill — 2% 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.
Margins have compressed 2 years running even as the spread stayed positive.
Converts 1.22x of reported profit into free cash flow over 5 years, with accruals negative.
Shares outstanding are up 302% since FY2020 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Covers interest 507.4x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 724.88x |
| 5% | 688.64x |
| 10% | 652.39x |
| 15% | 616.15x |
| 20% | 579.90x |
| 25% | 543.66x |
| 30% | 507.42x |
| 35% | 471.17x |
| 40% | 434.93x |
| 45% | 398.68x |
| 50% | 362.44x |
| 55% | 326.20x |
| 60% | 289.95x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $469,681,000 of the $469,681,000 total — a fixed obligation that does not appear in a headline debt figure.
At $57.75, free cash flow must compound 6.96%/yr for 10 years. It has done 41.15%/yr over 5 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | −79.4% | 7.0% |
| FY2022 | 627.2% | 7.0% |
| FY2023 | 163.7% | 7.0% |
| FY2024 | 10.4% | 7.0% |
| FY2025 | 28.2% | 7.0% |
The implied rate has been matched or beaten in 4 of the last 5 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $137M | $137M |
| Share-based comp | $5M | $142M |
| Other non-cash & working capital | $48M | $191M |
| Operating cash flow | $191M | $191M |
| Capex | −$8M | $183M |
| Free cash flow | $183M | $183M |
| FCF after SBC | $178M | $178M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 50.4% | not reported | not reported |
| FY2022 | 18.3% | 50.5% | 32.2 points |
| FY2023 | 43.6% | 116.9% | 73.3 points |
| FY2024 | 65.0% | -2.6% | -67.6 points |
| FY2025 | 11.1% | 15.1% | 4.0 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2020 | not reported | not reported | not reported | not reported |
| FY2021 | 15.9 days | not reported | not reported | not reported |
| FY2022 | 20.2 days | not reported | not reported | not reported |
| FY2023 | 30.5 days | not reported | not reported | not reported |
| FY2024 | 18 days | not reported | not reported | not reported |
| FY2025 | 18.7 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | not reported |
| FY2021 | 11.1 percent |
| FY2022 | -6.1 percent |
| FY2023 | -4.7 percent |
| FY2024 | -3.0 percent |
| FY2025 | -4.4 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.