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Institutional ownership roughly stable: -0.08% change quarter-over-quarter.
Data as of Q1 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 3 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.
To be worth $0.08 today, the market must believe free cash flow compounds 4.9%/yr for a decade (off $7M normalized FCF).
The market's 4.9% is more optimistic than its 4-yr track record.
2-stage DCF · 0.40B shares · net debt $76M
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.
EOD close · as of 2026-09-14
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 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $159.8M 100.0% | $157.7M 100.0% | $148.6M 100.0% | $134.0M 100.0% | $121.5M 100.0% | $50.9M 100.0% | $45.6M 100.0% | $11.9M 100.0% | $6.1M 100.0% | $3.6M 100.0% |
| Cost of Revenue | $101.9M 63.8% | $95.1M 60.3% | $82.7M 55.6% | $70.1M 52.3% | $55.2M 45.4% | $19.6M 38.5% | $26.9M 59.0% | $4.0M 34.1% | $2.2M 36.1% | $1.4M 37.9% |
| Cost of Products | — | — | — | — | — | — | — | — | $2.6M 42.1% | $1.6M 45.4% |
| Gross Profit | $57.9M 36.2% | $62.6M 39.7% | $65.9M 44.4% | $64.0M 47.7% | $66.3M 54.6% | $31.3M 61.5% | $18.7M 41.0% | $7.8M 65.9% | $3.9M 63.9% | $1.9M 54.6% |
| Selling, General & Admin | $26.1M 16.4% | $25.6M 16.2% | $22.1M 14.9% | $20.7M 15.5% | $27.6M 22.7% | $9.9M 19.5% | $8.8M 19.3% | $10.1M 84.8% | $2.9M 47.5% | $770K 21.6% |
| Total Operating Expenses | $60.7M 38.0% | $60.0M 38.0% | $51.5M 34.7% | $43.6M 32.5% | $39.4M 32.4% | $16.8M 33.0% | $60.2M 132.1% | $13.2M 111.1% | $3.7M 61.8% | $1.2M 32.9% |
| Operating Income | -$2.8M -1.8% | $2.6M 1.7% | $14.4M 9.7% | $20.4M 15.2% | $26.9M 22.1% | $14.5M 28.6% | -$41.5M -91.1% | -$5.4M -45.2% | $128K 2.1% | $775K 21.8% |
| Interest Expense | $7.5M 4.7% | $6.9M 4.4% | $9.2M 6.2% | $1.7M 1.3% | $2.4M 1.9% | $9.8M 19.3% | $12.7M 27.9% | $4.4M 36.8% | $592K 9.8% | -$291K -8.2% |
| Interest & Investment Income | $177K 0.1% | $114K 0.1% | $270K 0.2% | $959K 0.7% | $109K 0.1% | $156K 0.3% | $468K 1.0% | $593K 5.0% | $81K 1.3% | — |
| Other Income (Expense), net | -$8.0M -5.0% | -$6.9M -4.4% | -$21.0M -14.1% | -$861K -0.6% | -$3.0M -2.5% | -$10.0M -19.7% | -$40.3M -88.3% | -$8.0M -67.1% | $1.2M 19.1% | $454K 12.7% |
| Pretax Income | -$10.9M -6.8% | -$4.3M -2.7% | -$6.6M -4.4% | $19.5M 14.6% | $23.8M 19.6% | $4.5M 8.8% | -$81.8M -179.4% | — | — | — |
| Income Tax Expense | $3.6M 2.2% | $8.2M 5.2% | $9.4M 6.3% | $5.9M 4.4% | $16.2M 13.3% | $2.1M 4.1% | $67K 0.1% | — | — | — |
| Net Income | -$14.5M -9.1% | -$12.5M -7.9% | -$16.0M -10.8% | $13.5M 10.0% | $7.2M 5.9% | $2.1M 4.2% | -$81.2M -178.0% | -$13.6M -114.8% | -$1.2M -19.7% | -$199K -5.6% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.04 | $-0.03 | $-0.04 | $0.04 | $0.02 | $0.01 | $-0.39 | — | — | — |
| EPS (Diluted) | $-0.04 | $-0.03 | $-0.04 | $0.04 | $0.02 | $0.01 | $-0.39 | — | — | — |
| Weighted Avg Shares (Basic) | 390.1M | 379.2M | 363.4M | 337.7M | 326.5M | 267.0M | 208.7M | — | — | 52.0M |
| Weighted Avg Shares (Diluted) | 390.1M | 379.2M | 363.4M | 380.3M | 372.4M | 324.2M | 208.7M | — | — | — |
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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
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 $7M 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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -11%. 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.
How much the company owes, how it's trended, and how comfortably it's serviced.
$3M of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~9.9% on $76M of debt.
Cash vs short-term debt unavailable.
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 2026-09-14
Where each multiple sits in its own 14-yr range · 25th 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
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
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 | 34.1 | 59.0 | 38.5 | 45.4 | 52.3 | 55.6 | 60.3 | 63.8 |
| Gross Profit | 65.9 | 41.0 | 61.5 | 54.6 | 47.7 | 44.4 | 39.7 | 36.2 |
| SG&A | 84.8 | 19.3 | 19.5 | 22.7 | 15.5 | 14.9 | 16.2 | 16.4 |
| Operating Income | -45.2 | -91.1 | 28.6 | 22.1 | 15.2 | 9.7 | 1.7 | -1.8 |
| Income Tax | — | 0.1 | 4.1 | 13.3 | 4.4 | 6.3 | 5.2 | 2.2 |
| Net Income | -114.8 | -178.0 | 4.2 | 5.9 | 10.0 | -10.8 | -7.9 | -9.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MRMD: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.25T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| AKTX | $1.02T | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| LLY | $1.00T | 48.6× | — | 15.4× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| JNJ | $639.4B | 24.1× | — | 6.8× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $454.8B | 109.0× | 32.6× | 7.4× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $360.1B | 19.8× | — | 5.5× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $343.5B | 28.6× | 19.9× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $248.4B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $229.9B | 34.4× | 29.9× | 5.2× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $203.3B | 26.5× | 17.5× | 5.5× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $178.4B | 21.2× | 19.6× | 6.1× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $177.5B | 27.4× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.5B | 20.4× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $141.5B | 39.6× | 29.4× | 5.8× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $131.1B | 46.9× | 36.0× | 13.0× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $130.9B | 33.6× | 28.7× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $129.4B | 18.4× | — | 2.7× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| LGVN | $128.8B | — | — | 107453.0× | -49.9% | 67.0% | -1894% | -400% | -400% | — | 31 |
| CVS | $120.3B | 68.1× | 12.1× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| MDT | $116.4B | 24.4× | 12.3× | 3.2× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| SYK | $105.3B | 32.8× | 18.1× | 4.2× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.8B | 23.0× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $95.9B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $92.4B | 16.6× | 15.6× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $81.7B | 18.8× | 19.6× | 5.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| MRMD | $31M | — | 20.3× | 0.2× | 1.3% | 36.2% | -9.1% | -29.0% | -11.5% | 14.4× | 3 |
Peers = companies sharing MRMD's sector (Healthcare) 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.