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Insufficient data to determine institutional momentum.
Data as of Q2 2026
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What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $326.0M dividends + $6.5M buybacks = $332.5M returned on -$425.9M FCF.
2 consecutive years of dividend increases · 6%/yr.
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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 8%. 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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2023). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $24.27 today, the market must believe free cash flow compounds 29.7%/yr for a decade (off $67.4M on the 3-yr avg basis).
On the basis ($55.5M) the requirement is 32.5%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.18B shares · net debt $2.23B
mean -248.3% · volatility σ 198% · implied rate exceeded in 0/3 yrs
Central path = implied 29.7%/yr growth; shaded band = ±1σ (198%) 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~4.0% on $2.29B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-10-21
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Selling, General & Admin | $19.0M | $19.7M | $18.7M | $16.9M | $16.1M | $18.9M |
| Total Operating Expenses | $206.0M | $178.5M | $165.7M | $141.9M | $136.0M | $130.1M |
| Interest Expense | $92.2M | $77.2M | $77.5M | $62.3M | $67.5M | $66.9M |
| Net Income | $339.7M | $263.0M | $337.5M | $102.1M | $174.2M | $227.3M |
| Per Share | ||||||
| EPS (Basic) | $1.90 | $1.61 | $2.32 | $0.80 | $1.50 | $2.02 |
| EPS (Diluted) | $1.85 | $1.61 | $2.31 | $0.79 | $1.49 | $2.01 |
| Weighted Avg Shares (Basic) | 177.4M | 161.1M | 144.1M | 125.2M | 114.7M | 112.0M |
| Weighted Avg Shares (Diluted) | 188.9M | 161.6M | 144.8M | 126.7M | 116.0M | 112.3M |
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.
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 2026-10-21
Where each multiple sits in its own 6-yr range · 75th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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 15% against ROIC 8% — 8% 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
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on HCXY: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
Leverage and buybacks account for 8 points of the 15% return on equity in FY2025. The business earns 8% on the capital it employs; the rest is balance sheet.
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.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Reported free cash flow is -$426M; after share-based compensation it is -$441M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2025-12-31. 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 $24.27, free cash flow must compound 29.74%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | −38.1% | 29.7% |
| FY2022 | −430.6% | 29.7% |
| FY2024 | −276.3% | 29.7% |
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 cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $340M | $340M |
| Share-based comp | $15M | $355M |
| Other non-cash & working capital | −$780M | −$426M |
| Operating cash flow | −$426M | −$426M |
| Capex | −$89,000 | −$426M |
| Free cash flow | −$426M | −$426M |
| FCF after SBC | −$441M | −$441M |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | not reported |
| FY2021 | 1.8 percent |
| FY2022 | 17.4 percent |
| FY2023 | 7.9 percent |
| FY2024 | 9.9 percent |
| FY2025 | 16.7 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.
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 |
|---|---|---|---|---|---|
| 2026-10-09 | 2 co-filers Chief Executive Officer | Tax withholding | 9,741 | $16.51 | $161k |
| 2026-10-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 1,018 | $16.51 | $17k |
| 2026-10-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,365 | $16.51 | $23k |
| 2026-10-09 | 2 co-filers President | Tax withholding | 3,011 | $16.51 | $50k |
| 2026-10-09 | 2 co-filers President | Tax withholding | 3,458 | $16.51 | $57k |
| 2026-10-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,433 | $16.51 | $24k |
| 2026-10-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 956 | $16.51 | $16k |
| 2026-10-09 | 2 co-filers Chief Executive Officer | Tax withholding | 10,652 | $16.51 | $176k |
| 2026-09-17 | Fichera Alfred Director | Grant | 3,483 | $17.76 | $62k |
| 2026-09-09 | Meyer Seth H President | Tax withholding | 5 | $17.61 | $88 |
| 2026-07-09 | 2 co-filers Chief Executive Officer | Tax withholding | 9,741 | $15.69 | $153k |
| 2026-07-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 956 | $15.69 | $15k |
| 2026-07-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,433 | $15.69 | $22k |
| 2026-07-09 | 2 co-filers President | Tax withholding | 3,011 | $15.69 | $47k |
| 2026-07-09 | 2 co-filers President | Tax withholding | 3,458 | $15.69 | $54k |
| 2026-07-09 | 2 co-filers Chief Executive Officer | Tax withholding | 10,652 | $15.69 | $167k |
| 2026-07-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 1,018 | $15.69 | $16k |
| 2026-07-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,365 | $15.69 | $21k |
| 2026-06-18 | Badavas Robert P Director | Grant | 3,873 | $15.49 | $60k |
| 2026-06-09 | Meyer Seth H Chief Financial Officer | Tax withholding | 5 | $15.45 | $77 |
| 2026-04-09 | 2 co-filers Chief Financial Officer | Tax withholding | 3,458 | $14.74 | $51k |
| 2026-04-09 | 2 co-filers Chief Executive Officer | Tax withholding | 10,652 | $14.74 | $157k |
| 2026-04-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,365 | $14.74 | $20k |
| 2026-04-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 956 | $14.74 | $14k |
| 2026-04-09 | 2 co-filers Chief Financial Officer | Tax withholding | 3,011 | $14.74 | $44k |
| 2026-04-09 | 2 co-filers Chief Legal Officer & CCO | Tax withholding | 1,018 | $14.74 | $15k |
| 2026-04-09 | 2 co-filers Chief Executive Officer | Tax withholding | 9,741 | $14.74 | $144k |
| 2026-04-09 | 2 co-filers Chief Operating Officer | Tax withholding | 1,433 | $14.74 | $21k |
| 2026-03-26 | Aguirre Deanne Director | Plan purchase | 7,317 | $14.35 | $105k |
| 2026-03-26 | Loo Wade Director | Plan purchase | 7,317 | $14.35 | $105k |
| 2026-03-26 | Crowell Gayle A Director | Plan purchase | 7,317 | $14.35 | $105k |
| 2026-03-26 | Fallon Thomas J Director | Plan purchaseindirect | 7,300 | $14.30 | $104k |
| 2026-03-26 | Badavas Robert P Director | Open-market buy | 3,658 | $14.35 | $52k |
| 2026-03-26 | Theodosopoulos Nikos Director | Plan purchase | 7,317 | $14.35 | $105k |
| 2026-03-26 | Randhawa Paramjeet K Director | Open-market buy | 2,926 | $14.35 | $42k |
| 2026-03-05 | Meyer Seth H Chief Financial Officer | Tax withholding | 5 | $15.11 | $76 |
| 2026-03-04 | Follmann Christian Chief Operating Officer | Open-market buy | 5,000 | $14.68 | $73k |
| 2026-03-04 | Randhawa Paramjeet K Director | Plan purchase | 3,050 | $14.78 | $45k |
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.