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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.
Top 9 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
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-08-19 | 3 co-filers Group filing | Option exercise | 15,000 | $0.00 | $0 |
| 2026-08-19 | 3 co-filers Group filing | Tax withholding | 1,238 | $0.67 | $828 |
| 2026-08-19 | 3 co-filers Group filing | Option exercise | 15,000 | $0.00 | — |
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.
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.
A reverse discounted cash flow is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 12% of free cash flow, leaving room to grow it and fund buybacks. Last year: $54.8M dividends + $28.9M buybacks = $83.7M returned on $466.4M 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 9 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: 13%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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 — 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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.88B 100.0% | $14.20B 100.0% | $13.06B 100.0% | $9.87B 100.0% | $11.38B 100.0% | $11.65B 100.0% | $10.60B 100.0% | $7.60B 100.0% | $5.58B 100.0% |
| Cost of Revenue | $1.24B 66.0% | $9.18B 64.6% | $8.54B 65.4% | $6.83B 69.2% | $5.63B 49.5% | $8.01B 68.8% | $5.61B 52.9% | $4.58B 60.4% | $4.26B 76.4% |
| Cost of Products | — | — | — | — | — | — | — | — | $404.9M 7.3% |
| Gross Profit | $639.0M 34.0% | $5.03B 35.4% | $4.51B 34.6% | $3.03B 30.8% | $5.75B 50.5% | $3.63B 31.2% | $4.99B 47.1% | $3.01B 39.6% | $1.32B 23.6% |
| Research & Development | $85.1M 4.5% | $578.2M 4.1% | $513.3M 3.9% | $583.3M 5.9% | $549.3M 4.8% | $474.3M 4.1% | $416.0M 3.9% | $320.2M 4.2% | $235.3M 4.2% |
| Selling, General & Admin | $51.7M 2.8% | $374.5M 2.6% | $387.4M 3.0% | $431.6M 4.4% | $470.7M 4.1% | $451.3M 3.9% | $412.1M 3.9% | $279.9M 3.7% | $203.6M 3.6% |
| Total Operating Expenses | $411.3M 21.9% | $2.74B 19.3% | $2.63B 20.2% | $2.70B 27.4% | $2.68B 23.5% | $2.20B 18.9% | $2.37B 22.3% | $1.19B 15.7% | $844.4M 15.1% |
| Interest Expense | $3.3M 0.2% | $9.0M 0.1% | $50.5M 0.4% | $55.6M 0.6% | $63.1M 0.6% | $77.5M 0.7% | $39.2M 0.4% | $23.1M 0.3% | $75.5M 1.4% |
| Other Income (Expense), net | $2.8M 0.1% | $58.2M 0.4% | $7.8M 0.1% | $61.3M 0.6% | $113.5M 1.0% | $146.0M 1.3% | $82.4M 0.8% | $1.8M 0.0% | $28.0M 0.5% |
| Pretax Income | $296.8M 15.8% | $1.35B 9.5% | $1.33B 10.2% | $1.03B 10.4% | $2.77B 24.3% | $685.6M 5.9% | $2.71B 25.5% | $2.11B 27.8% | $474.6M 8.5% |
| Income Tax Expense | $57.0M 3.0% | $253.3M 1.8% | $260.8M 2.0% | $202.6M 2.1% | $435.4M 3.8% | $90.6M 0.8% | $412.0M 3.9% | $132.2M 1.7% | $234.2M 4.2% |
| Net Income | $239.8M 12.8% | $1.10B 7.7% | $1.07B 8.2% | $825.9M 8.4% | $2.33B 20.5% | $91.2M 0.8% | $2.29B 21.6% | $1.98B 26.0% | $240.4M 4.3% |
| Per Share | |||||||||
| EPS (Basic) | — | — | — | — | — | — | — | — | $0.23 |
| EPS (Diluted) | $4.72 | $3.24 | $3.17 | $2.21 | $5.73 | $1.56 | $6.14 | $5.45 | $0.18 |
| Weighted Avg Shares (Basic) | 338.9M | 331.4M | 328.5M | 348.0M | 368.5M | 364.7M | 355.6M | 337.9M | 113.6M |
| Weighted Avg Shares (Diluted) | 355.1M | 339.3M | 359.8M | 392.8M | 415.0M | 411.2M | 375.8M | 362.8M | 140.9M |
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 2026-10-29
Where each multiple sits in its own 9-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 9-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 14% against ROIC 13% — 1% 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 15.1% — 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
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 60.4 | 52.9 | 68.8 | 49.5 | 69.2 | 65.4 | 64.6 | 66.0 |
| Gross Profit | 39.6 | 47.1 | 31.2 | 50.5 | 30.8 | 34.6 | 35.4 | 34.0 |
| R&D | 4.2 | 3.9 | 4.1 | 4.8 | 5.9 | 3.9 | 4.1 | 4.5 |
| SG&A | 3.7 | 3.9 | 3.9 | 4.1 | 4.4 | 3.0 | 2.6 | 2.8 |
| Income Tax | 1.7 | 3.9 | 0.8 | 3.8 | 2.1 | 2.0 | 1.8 | 3.0 |
| Net Income | 26.0 | 21.6 | 0.8 | 20.5 | 8.4 | 8.2 | 7.7 | 12.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Leverage ratios is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
Interest is easily covered by operating profit. Effective rate ~4.0% on $80.9M of debt.
Cash of $308.3M fully covers short-term debt of $180.0M.
Mostly short-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.
Ranked against 33 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AXP | $217.1B | 21.1× | — | 5.3× | 6.4% | — | 26.2% | 32.4% | 11.9% | — | 1,026 |
| COIN | $42.4B | 36.1× | 23.1× | 5.9× | 9.4% | — | 17.6% | 8.5% | 5.9% | -3.0× | 313 |
| SOFI | $22.8B | 45.1× | — | 36.9× | 23.1% | 1.7% | 77.7% | 4.6% | 3.9% | — | 266 |
| BMNP | $22.7B | 7.3× | 49.9× | — | 84.1% | 5.1% | — | 4.0% | 4.0% | -1.1× | — |
| CHYM | $10.9B | — | — | 5.0× | 30.7% | 88.0% | -46.2% | -72.1% | -72.1% | — | 55 |
| HUT | $8.2B | — | — | 34.8× | 44.8% | 54.2% | -96.2% | -15.9% | -15.9% | — | 69 |
| WULF | $6.4B | — | — | 37.8× | 20.3% | 39.2% | -393% | -471% | -20.4% | — | 82 |
| DAVE | $4.3B | 24.8× | 21.6× | 7.7× | 59.7% | — | 35.3% | 55.5% | 55.5% | -0.4× | 47 |
| GPGI | $3.4B | — | — | 56.2× | -85.8% | 48.1% | -227% | -55.9% | -55.9% | — | 21 |
| CIFR | $3.4B | — | — | 15.0× | 48.0% | 63.7% | -367% | -102% | -23.1% | — | 79 |
| UPST | $2.4B | 55.2× | 53.3× | 2.3× | 64.0% | — | 5.1% | 6.7% | 2.0% | 17.4× | 67 |
| CLSK | $2.1B | — | 4.1× | 2.8× | 102% | 55.2% | 47.6% | 16.8% | 12.9% | 0.9× | 79 |
| PGY | $1.7B | 22.4× | 5.1× | 1.3× | 26.1% | 42.4% | 6.3% | 17.0% | 17.0% | -0.8× | — |
| WLTH | $1.6B | — | — | 4.5× | 18.2% | 89.6% | -11.5% | -6.8% | -6.8% | — | 10 |
| KEEL | $1.4B | — | — | 6.2× | 72.0% | -8.2% | -124% | -50.8% | -23.1% | — | — |
| WD | $1.2B | 21.2× | — | 1.0× | 9.0% | — | 4.6% | 3.2% | 3.2% | — | 38 |
| PWP | $1.1B | 29.8× | 13.5× | 1.4× | -14.5% | — | 4.7% | -27.9% | -27.9% | -4.2× | 19 |
| RHLD | $978M | — | 6.6× | 2.1× | 9.9% | 56.3% | -1.3% | -91.1% | -3.1% | 0.1× | 10 |
| BUR | $766M | 12.5× | — | 1.9× | -24.3% | — | 15.1% | 2.6% | 1.4% | — | 37 |
| QFIN | $641M | 1.7× | — | 0.2× | 16.8% | 84.4% | 31.1% | 24.8% | 24.8% | -0.7× | 25 |
| ABTC | $546M | — | — | 3.0× | 159% | 50.3% | -82.7% | -23.0% | -23.0% | — | — |
| HKD | $544M | 3.9× | 71.5× | 4.0× | 566% | — | 71.3% | 36.8% | 18.5% | — | 2 |
| FWDI | $529M | — | — | 29.1× | -9.0% | 28.5% | -918% | -11.4% | -11.4% | — | — |
| OPRT | $459M | 18.8× | — | 0.5× | -4.5% | — | 2.6% | 6.5% | 6.5% | — | 22 |
| WYFI | $436M | — | — | 5.5× | 66.2% | 60.2% | -31.2% | -5.1% | -4.9% | — | 15 |
| LX | $105M | — | — | 0.1× | -3.3% | 34.0% | 12.8% | 14.0% | 13.4% | -0.7× | 9 |
Peers = companies sharing LX's sector (Finance Services) 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.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 23.6% | 8.0% | 4.3% |
| FY2018 | 39.6% | 27.7% | 26.0% |
| FY2019 | 47.1% | 24.7% | 21.6% |
| FY2020 | 31.2% | 4.6% | 5.1% |
| FY2021 | 50.5% | 23.3% | 20.5% |
| FY2022 | 30.8% | 9.8% | 8.4% |
| FY2023 | 34.6% | 10.1% | 8.2% |
| FY2024 | 35.4% | 9.1% | 7.7% |
| FY2025 | 34.0% | 15.6% | 12.8% |
Return on equity (14%) and return on invested capital (13%) 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.
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: wacc.
Converts 1.23x of reported profit into free cash flow over 5 years, with accruals negative.
The cash conversion cycle could not be computed — receivables, inventory or cost of revenue is not reported — so the earliest accrual warning is not part of this verdict.
Leverage is not measurable this way for a bank.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
No growth rate within the range this model can express reaches the current price, so the requirement cannot be stated as a number.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: implied_growth.
| Step | Amount | Running total |
|---|---|---|
| Net income | $240M | $240M |
| Share-based comp | $14M | $254M |
| Other non-cash & working capital | $263M | $517M |
| Operating cash flow | $517M | $517M |
| Capex | −$50M | $466M |
| Free cash flow | $466M | $466M |
| FCF after SBC | $453M | $453M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 17.2% | not reported | not reported |
| FY2021 | 0.1% | not reported | not reported |
| FY2022 | -19.9% | not reported | not reported |
| FY2023 | 28.6% | not reported | not reported |
| FY2024 | 5.8% | not reported | not reported |
| FY2025 | -3.4% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | 16.0 percent |
| FY2020 | 4.0 percent |
| FY2021 | -1.6 percent |
| FY2022 | 3.2 percent |
| FY2023 | -7.4 percent |
| FY2024 | 0.1 percent |
| FY2025 | -8.4 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.
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.