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Insufficient data to determine institutional momentum.
Data as of Q3 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.
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.
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
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 $52.42 today, the market must believe free cash flow compounds 3.7%/yr for a decade (off $63.5M on the 3-yr avg basis).
The market's 3.7% is more conservative than its 9-yr track record.
Default is 10.1% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.02B shares (market data) · net debt -$107.6M
mean 26.2% · volatility σ 83% · implied rate exceeded in 5/9 yrs
Central path = implied 3.7%/yr growth; shaded band = ±1σ (83%) 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.
The dividend is comfortably covered — only 56% of free cash flow, leaving room to grow it and fund buybacks. Last year: $37.6M dividends + $0 buybacks = $37.6M returned on $66.8M FCF.
3 consecutive years of dividend increases · 11%/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 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).
Insufficient data. Current ROIC on all capital: 27%. 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 | $359.0M 100.0% | $336.3M 100.0% | $320.0M 100.0% | $293.1M 100.0% | $270.9M 100.0% | $245.6M 100.0% | $279.3M 100.0% | $253.3M 100.0% | $234.6M 100.0% | $199.6M 100.0% |
| Cost of Revenue | $180.4M 50.3% | $175.6M 52.2% | $166.8M 52.1% | $155.5M 53.1% | $143.0M 52.8% | $129.1M 52.6% | $148.8M 53.3% | $126.0M 49.7% | $115.3M 49.1% | $97.5M 48.9% |
| Gross Profit | $178.6M 49.7% | $160.6M 47.8% | $153.2M 47.9% | $137.6M 46.9% | $127.8M 47.2% | $116.5M 47.4% | $130.5M 46.7% | $127.3M 50.3% | $119.4M 50.9% | $102.0M 51.1% |
| Research & Development | $20.8M 5.8% | $18.1M 5.4% | $17.0M 5.3% | $16.8M 5.7% | $14.1M 5.2% | $12.8M 5.2% | $13.9M 5.0% | $6.2M 2.5% | $3.2M 1.3% | $2.9M 1.5% |
| Selling, General & Admin | $62.5M 17.4% | $56.2M 16.7% | $56.6M 17.7% | $48.7M 16.6% | $46.1M 17.0% | $49.7M 20.2% | $55.2M 19.7% | $47.7M 18.8% | $47.6M 20.3% | $40.2M 20.2% |
| Operating Income | $77.0M 21.5% | $71.2M 21.2% | $66.0M 20.6% | $58.8M 20.1% | $54.6M 20.2% | $27.8M 11.3% | $22.7M 8.1% | $62.4M 24.6% | $56.5M 24.1% | $48.0M 24.1% |
| Other Income (Expense), net | -$1.9M -0.5% | $80K 0.0% | -$1.6M -0.5% | -$5.9M -2.0% | -$5.5M -2.0% | $1.5M 0.6% | $576K 0.2% | $717K 0.3% | -$989K -0.4% | $2.1M 1.0% |
| Pretax Income | $74.9M 20.9% | $71.2M 21.2% | $64.4M 20.1% | $52.8M 18.0% | $49.0M 18.1% | $29.0M 11.8% | $23.2M 8.3% | $76.2M 30.1% | $55.5M 23.7% | $50.1M 25.1% |
| Income Tax Expense | $14.9M 4.1% | $14.6M 4.3% | $13.4M 4.2% | $12.7M 4.3% | $11.9M 4.4% | $10.9M 4.4% | $12.2M 4.4% | $17.3M 6.8% | $17.7M 7.5% | $14.9M 7.5% |
| Net Income | $58.0M 16.1% | $53.7M 16.0% | $48.1M 15.0% | $37.1M 12.7% | $34.3M 12.6% | $16.1M 6.6% | $6.9M 2.5% | $60.7M 24.0% | $43.8M 18.7% | $32.1M 16.1% |
| Per Share | ||||||||||
| EPS (Basic) | $2.92 | $2.70 | $2.41 | $1.82 | $1.65 | $0.77 | — | — | — | — |
| EPS (Diluted) | $2.92 | $2.70 | $2.41 | $1.82 | $1.65 | $0.77 | — | — | — | — |
| Weighted Avg Shares (Basic) | 19.9M | 19.9M | 20.0M | 20.4M | 20.8M | 20.8M | — | — | — | — |
| Weighted Avg Shares (Diluted) | 19.9M | 19.9M | 20.0M | 20.4M | 20.8M | 20.8M | — | — | — | — |
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 2026-10-30
Where each multiple sits in its own 14-yr range · 95th 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 27% against ROIC 27% — 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 28.8% — 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 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 49.7 | 53.3 | 52.6 | 52.8 | 53.1 | 52.1 | 52.2 | 50.3 |
| Gross Profit | 50.3 | 46.7 | 47.4 | 47.2 | 46.9 | 47.9 | 47.8 | 49.7 |
| R&D | 2.5 | 5.0 | 5.2 | 5.2 | 5.7 | 5.3 | 5.4 | 5.8 |
| SG&A | 18.8 | 19.7 | 20.2 | 17.0 | 16.6 | 17.7 | 16.7 | 17.4 |
| Operating Income | 24.6 | 8.1 | 11.3 | 20.2 | 20.1 | 20.6 | 21.2 | 21.5 |
| Income Tax | 6.8 | 4.4 | 4.4 | 4.4 | 4.3 | 4.2 | 4.3 | 4.1 |
| Net Income | 24.0 | 2.5 | 6.6 | 12.6 | 12.7 | 15.0 | 16.0 | 16.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ITRN: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $27.9M covers all $12.2M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2022-12-31 (20-F).
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.”
Cash of $107.6M fully covers short-term debt of $0.
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.
Ranked against 19 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DXPE | $2.7B | 32.5× | 17.3× | 1.3× | 11.9% | 31.5% | 4.4% | 17.8% | 6.7% | 2.8× | 61 |
| PLUS | $2.4B | 18.5× | 10.4× | 1.0× | 22.1% | 25.2% | 5.4% | 12.4% | 12.4% | -2.1× | 62 |
| CNXN | $2.2B | 26.6× | 18.2× | 0.8× | 2.5% | 18.8% | 2.9% | 9.2% | 9.2% | -1.8× | 49 |
| GIC | $1.7B | 23.4× | 15.1× | 1.2× | 4.8% | 35.5% | 5.2% | 23.0% | 23.0% | -0.6× | 26 |
| DSGR | $1.6B | 194.3× | 14.2× | 0.8× | 9.8% | 33.4% | 0.4% | 1.3% | 0.6% | 4.0× | 25 |
| RYZ | $1.6B | — | 32.4× | 0.3× | -0.6% | 17.1% | -1.2% | -7.5% | -7.5% | -0.5× | — |
| SCSC | $1.2B | 15.8× | 9.7× | 0.4× | 6.1% | 13.6% | 2.4% | 8.7% | 7.8% | 0.1× | 46 |
| GOLD | $1.1B | 12.6× | 7.6× | 0.0× | 132% | 1.8% | 0.3% | 9.4% | 9.4% | 0.0× | 37 |
| ITRN | $1.0B | 17.9× | 10.3× | 2.9× | 6.8% | 49.7% | 16.1% | 26.6% | 26.6% | -1.2× | 33 |
| WLFC | $880M | 2.7× | 16.5× | 1.2× | 28.3% | — | 15.6% | 17.2% | 3.4% | 12.4× | 22 |
| CLMB | $758M | 8.8× | 19.6× | 1.2× | 40.1% | 16.1% | 3.3% | 18.3% | 18.3% | -1.0× | 24 |
| EACO | $729M | 22.8× | 16.8× | 1.7× | 20.1% | 30.1% | 7.5% | 20.7% | 20.2% | 0.1× | — |
| BXC | $621M | — | 7.3× | 0.2× | 0.0% | 15.3% | 0.0% | 0.0% | 0.0% | -1.2× | 20 |
| ASPN | $419M | — | — | 1.6× | -40.1% | 17.0% | -144% | -165% | -119% | — | 24 |
| FSTR | $377M | 52.0× | 10.9× | 0.7× | 1.7% | 21.1% | 1.4% | 4.3% | 4.3% | -0.1× | 19 |
| RELL | $294M | — | 25.5× | 1.3× | 9.4% | 31.2% | 2.8% | 3.9% | 3.9% | -3.1× | 18 |
| ALTG | $241M | — | 4.6× | 0.1× | -2.2% | 25.9% | -4.4% | 913% | -16.5% | 3.0× | 18 |
| AENT | $235M | 17.8× | 8.1× | 0.2× | 8.0% | — | 1.1% | 11.2% | 11.2% | -0.0× | 5 |
| ASLE | $231M | 26.8× | 9.6× | 0.7× | -2.8% | 31.5% | 2.6% | 2.0% | 1.6% | 3.1× | 21 |
| HDSN | $181M | 11.7× | 6.7× | 0.7× | 4.0% | 25.2% | 6.8% | 6.8% | 6.8% | -1.9× | 24 |
Peers = companies sharing ITRN's sector (Wholesale-Electronic Parts & Equipment, NEC) 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 40.22pts above its cost of capital, positive in 5 of the last 5 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 10.1% | 10.1% (today's — no rate published for this year) | -0.0pts |
| FY2020 | 16.1% | 10.1% (today's — no rate published for this year) | 6.0pts |
| FY2021 | 31.4% | 10.1% (today's — no rate published for this year) | 21.3pts |
| FY2022 | 30.3% | 10.1% (today's — no rate published for this year) | 20.2pts |
| FY2023 | 39.5% | 10.1% (today's — no rate published for this year) | 29.4pts |
| FY2024 | 47.1% | 10.1% (today's — no rate published for this year) | 37.0pts |
| FY2025 | 50.3% | 10.1% (today's — no rate published for this year) | 40.2pts |
| Now | 26.6% | 10.1% | 16.6pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 51.1% | 24.1% | 16.1% |
| FY2017 | 50.9% | 24.1% | 18.7% |
| FY2018 | 50.3% | 24.6% | 24.0% |
| FY2019 | 46.7% | 8.1% | 2.5% |
| FY2020 | 47.4% | 11.3% | 6.6% |
| FY2021 | 47.2% | 20.2% | 12.6% |
| FY2022 | 46.9% | 20.1% | 12.7% |
| FY2023 | 47.9% | 20.6% | 15.0% |
| FY2024 | 47.8% | 21.2% | 16.0% |
| FY2025 | 49.7% | 21.5% | 16.1% |
Return on equity (27%) and return on invested capital (27%) 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.
$40M of goodwill — 33% 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 74.71% against 50.31% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 1.05x of reported profit into free cash flow over 5 years, with accruals negative.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2022-12-31, 1400 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2022-12-31 (20-F); cash from the 2022-12-31 balance sheet; FCF from FY2022.
Balance sheet at 2022-12-31. 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: interest_expense.
At $52.42, free cash flow must compound 3.73%/yr for 10 years. It has done 8.31%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 20.5% | 3.7% |
| FY2021 | −21.4% | 3.7% |
| FY2022 | −52.5% | 3.7% |
| FY2023 | 238.3% | 3.7% |
| FY2024 | −3.7% | 3.7% |
| FY2025 | 10.2% | 3.7% |
The implied rate has been matched or beaten in 3 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $58M | $58M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $31M | $89M |
| Operating cash flow | $89M | $89M |
| Capex | −$22M | $67M |
| Free cash flow | $67M | $67M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -12.1% | -12.8% | -0.7 points |
| FY2021 | 10.3% | 11.6% | 1.3 points |
| FY2022 | 8.2% | 4.3% | -3.8 points |
| FY2023 | 9.2% | -0.9% | -10.1 points |
| FY2024 | 5.1% | 5.1% | -0.0 points |
| FY2025 | 6.8% | 22.7% | 15.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 58.9 days | 62.6 days | 55.6 days | 66 days |
| FY2020 | 58.5 days | 64 days | 55.7 days | 66.7 days |
| FY2021 | 59.2 days | 69.2 days | 54.3 days | 74.1 days |
| FY2022 | 57.1 days | 66.9 days | 51.5 days | 72.5 days |
| FY2023 | 51.8 days | 58.8 days | 45.6 days | 65 days |
| FY2024 | 51.8 days | 48.7 days | 39.2 days | 61.3 days |
| FY2025 | 59.5 days | 47 days | 38.6 days | 67.8 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -15.6 percent |
| FY2020 | -14.1 percent |
| FY2021 | -7.3 percent |
| FY2022 | -2.8 percent |
| FY2023 | -9.1 percent |
| FY2024 | -6.3 percent |
| FY2025 | -7.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
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.