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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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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 -$11.4M 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 reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: -1%. 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 2026-10-29
How a revenue dollar becomes profit — FY2024
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 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.9M 100.0% | $2.7M 100.0% | $79K 100.0% | $96K 100.0% | $223K 100.0% | $164K 100.0% | — | — | $188K 100.0% | $3.2M 100.0% |
| Cost of Revenue | $2.7M 93.7% | $2.6M 97.4% | $27K 34.7% | $30K 31.4% | $119K 53.2% | $84K 51.1% | — | — | $70K 37.2% | $2.8M 87.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $70K 37.2% | $2.8M 87.9% |
| Gross Profit | $182K 6.3% | $69K 2.6% | $52K 65.3% | $66K 68.6% | $104K 46.8% | $80K 48.9% | — | — | $118K 62.8% | $386K 12.1% |
| Research & Development | — | — | — | — | — | — | — | — | $54K 28.8% | $215K 6.8% |
| Selling, General & Admin | $561K 19.6% | $539K 20.1% | $240K 304.0% | — | — | — | — | $54K | $319K 169.5% | $1.6M 51.0% |
| Total Operating Expenses | $565K 19.7% | $539K 20.1% | $240K 304.0% | $229K 237.4% | $383K 172.0% | $618K 377.7% | $248K | $54K | $406K 215.8% | $2.0M 62.3% |
| Operating Income | -$383K -13.4% | -$470K -17.5% | -$240K -304.0% | -$163K -168.8% | -$279K -125.2% | -$538K -328.8% | -$248K | -$54K | -$288K -153.0% | -$1.6M -50.2% |
| Interest Expense | — | — | — | — | — | — | — | — | $1K 0.5% | $1K 0.0% |
| Interest & Investment Income | $1K 0.0% | $1K 0.1% | — | — | — | — | — | — | — | — |
| Other Income (Expense), net | — | — | $200 0.3% | -$184 -0.2% | -$60 -0.0% | -$2K -1.2% | -$3K | — | $130K 69.3% | -$1.9M -61.3% |
| Pretax Income | -$495K -17.3% | -$445K -16.6% | -$240K -304.0% | -$163K -169.0% | -$753K -338.2% | -$540K -329.9% | -$250K | -$54K | — | — |
| Income Tax Expense | -$22K -0.8% | -$66K -2.5% | — | — | — | — | — | — | — | — |
| Net Income | -$472K -16.5% | -$379K -14.2% | -$240K -304.0% | -$163K -169.0% | -$548K -246.2% | -$488K -298.4% | -$250K | -$54K | -$159K -84.2% | -$3.5M -111.5% |
| Per Share | ||||||||||
| EPS (Basic) | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | $0.00 | $0.00 | -$0.07 |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | $0.00 | $0.00 | -$0.07 |
| Weighted Avg Shares (Basic) | 518.8M | 450.2M | 61.7M | 1.03B | 1.03B | 1.11B | — | 102.9M | 49.7M | 49.7M |
| Weighted Avg Shares (Diluted) | 518.8M | 450.2M | 61.7M | 1.03B | — | — | — | 102.9M | 49.7M | 49.7M |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The most recent twelve months of free cash flow. Most current, and the most exposed to one quarter of working-capital timing.
To be worth $0.01 today, the market must believe free cash flow compounds -4.5%/yr for a decade (off $1.2M on the TTM basis).
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.52B shares (market data) · net debt $6.6M
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.
Cash of $241K (at 2024-12-31) covers the $77K due within a year 3.1× over. Scheduled principal only (excludes interest & revolver draws). As of 2024-09-30 (10-Q). The cash figure is from 2024-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2016 (no longer broken out).
Cash of $241K fully covers short-term debt of $235K.
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.
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.
EOD close · as of 2026-10-29
Where each multiple sits in its own 13-yr range · 28th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 13-yr history.
Is the profit real, and how strong is the balance sheet?
FY2024 · every deduction from revenue to net income
DuPont — the three levers
ROE -1% against ROIC -1% — -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
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | — | 51.1 | 53.2 | 31.4 | 34.7 | 97.4 | 93.7 |
| Gross Profit | — | — | 48.9 | 46.8 | 68.6 | 65.3 | 2.6 | 6.3 |
| SG&A | — | — | — | — | — | 304.0 | 20.1 | 19.6 |
| Operating Income | — | — | -328.8 | -125.2 | -168.8 | -304.0 | -17.5 | -13.4 |
| Income Tax | — | — | — | — | — | — | -2.5 | -0.8 |
| Net Income | — | — | -298.4 | -246.2 | -169.0 | -304.0 | -14.2 | -16.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HCIL: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.