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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 $6.2M 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 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).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -2%. 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.
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).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
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. Educational — not a recommendation.
Ranked against 17 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMCR | $21.9B | 19.9× | 10.3× | 0.9× | 56.6% | 20.0% | 4.7% | 9.4% | 4.3% | 3.8× | — |
| HAS | $16.7B | — | 135.9× | 3.1× | 13.1% | 75.8% | -6.0% | -57.0% | -8.4% | — | 207 |
| GOLF | $5.0B | 27.4× | 16.7× | 1.9× | 4.1% | 47.7% | 7.4% | 24.1% | 10.9% | 2.7× | 66 |
| MAT | $4.4B | 12.4× | 7.7× | 0.8× | -0.6% | 48.7% | 7.4% | 17.8% | 8.7% | 1.5× | 84 |
| BRC | $3.9B | — | 12.0× | 2.3× | 9.8% | 51.7% | 12.4% | 15.1% | 15.0% | -0.6× | 65 |
| YETI | $3.2B | 21.5× | 12.2× | 1.7× | 2.1% | 57.4% | 8.9% | 25.4% | 22.9% | 0.3× | 102 |
| CALY | $2.7B | — | 14.3× | 1.3× | -0.8% | 42.1% | -19.9% | -19.8% | -14.8% | -1.2× | 66 |
| PTON | $2.2B | 36.6× | 10.9× | 0.9× | -1.8% | 52.6% | 2.6% | -45.2% | 5.3% | 0.6× | 90 |
| ODC | $1.0B | — | 10.7× | 2.1× | 1.7% | 27.8% | 11.5% | 19.1% | 19.1% | -0.8× | 26 |
| DAKT | $907M | 20.5× | 9.8× | 1.1× | 10.9% | 27.3% | 5.4% | 15.1% | 14.6% | -1.5× | 31 |
| JOUT | $479M | — | 78.4× | 0.8× | -0.1% | 35.1% | -5.8% | -8.2% | -8.2% | — | 28 |
| JAKK | $362M | 36.5× | 12.7× | 3.2× | -83.6% | — | 8.7% | 4.0% | 4.0% | -2.1× | 15 |
| FNKO | $357M | — | 39.8× | 0.4× | -13.5% | — | -7.4% | -36.3% | -16.4% | 13.5× | 16 |
| ESCA | $271M | 19.9× | 12.2× | 1.1× | -4.5% | 26.9% | 5.7% | 7.9% | 7.1% | 0.8× | 18 |
| AOUT | $229M | — | 60.3× | 1.2× | -14.3% | 44.7% | -4.8% | -5.6% | -5.6% | -6.2× | 11 |
| TOYO | $194M | 4.0× | 1.8× | 0.5× | 142% | 22.5% | 9.3% | 35.6% | 27.9% | -0.2× | — |
| CLAR | $170M | — | — | 0.7× | -5.2% | 33.1% | -18.6% | -23.7% | -23.7% | — | 12 |
| MWG | $7M | — | 4.6× | 0.2× | 44.1% | 24.8% | -1.0% | -1.9% | -1.9% | -1.6× | — |
Peers = companies sharing MWG's sector (Miscellaneous Manufacturing Industries) 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.
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 |
|---|---|---|---|---|---|---|
| Revenue | $44.8M 100.0% | $31.1M 100.0% | $36.0M 100.0% | $38.4M 100.0% | $33.4M 100.0% | $29.9M 100.0% |
| Cost of Revenue | $33.7M 75.2% | $21.4M 68.7% | $27.4M 76.0% | $28.6M 74.6% | $24.0M 72.0% | $23.0M 77.1% |
| Gross Profit | $11.1M 24.8% | $9.7M 31.3% | $8.7M 24.0% | $9.7M 25.4% | $9.4M 28.0% | $6.8M 22.9% |
| Selling, General & Admin | $8.1M 18.1% | $8.7M 28.1% | $10.8M 29.9% | $6.7M 17.6% | $6.6M 19.8% | $6.3M 21.1% |
| Operating Income | $772K 1.7% | -$1.9M -6.2% | -$3.1M -8.5% | $1.5M 3.9% | $1.6M 4.9% | -$605K -2.0% |
| Interest Expense | $1.7M 3.8% | $1.5M 4.8% | $1.1M 3.1% | $748K 1.9% | $716K 2.1% | $858K 2.9% |
| Interest & Investment Income | $108K 0.2% | $220K 0.7% | $57K 0.2% | — | $19K 0.1% | $14K 0.0% |
| Other Income (Expense), net | -$1.2M -2.7% | -$1.2M -3.9% | $4.8M 13.2% | $62K 0.2% | $397K 1.2% | $1.9M 6.4% |
| Pretax Income | -$433K -1.0% | -$3.2M -10.2% | $1.7M 4.7% | $1.6M 4.1% | $2.0M 6.1% | $1.3M 4.4% |
| Income Tax Expense | — | -$310K -1.0% | -$53K -0.1% | $529K 1.4% | $230K 0.7% | $3K 0.0% |
| Net Income | -$433K -1.0% | -$2.9M -9.2% | $1.8M 5.0% | $978K 2.5% | $1.8M 5.4% | $1.3M 4.4% |
| Per Share | ||||||
| EPS (Basic) | -$0.11 | -$0.90 | $0.59 | $0.04 | $0.07 | $0.05 |
| EPS (Diluted) | -$0.11 | -$0.90 | $0.59 | $0.04 | $0.07 | — |
| Weighted Avg Shares (Basic) | 3.8M | 3.2M | 2.9M | 24.8M | 24.8M | 24.8M |
| Weighted Avg Shares (Diluted) | 3.8M | 3.2M | 2.9M | 24.8M | 24.8M | — |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $1.44 today, the market must believe free cash flow compounds -48.1%/yr for a decade (off $6.2M on the 3-yr avg basis).
The market's -48.1% is more conservative than its 5-yr track record.
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 · 0.01B shares (market data) · net debt -$1.9M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean -596.3% · volatility σ 1368% · implied rate exceeded in 1/3 yrs
Central path = implied -48.1%/yr growth; shaded band = ±1σ (1368%) 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.
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 2026-10-30
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -2% against ROIC -2% — 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 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Cost of Revenue | 77.1 | 72.0 | 74.6 | 76.0 | 68.7 | 75.2 |
| Gross Profit | 22.9 | 28.0 | 25.4 | 24.0 | 31.3 | 24.8 |
| SG&A | 21.1 | 19.8 | 17.6 | 29.9 | 28.1 | 18.1 |
| Operating Income | -2.0 | 4.9 | 3.9 | -8.5 | -6.2 | 1.7 |
| Income Tax | 0.0 | 0.7 | 1.4 | -0.1 | -1.0 | — |
| Net Income | 4.4 | 5.4 | 2.5 | 5.0 | -9.2 | -1.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MWG: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -14.23pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2020 | -3.3% | 16.6% (today's — no rate published for this year) | -19.9pts |
| FY2021 | 13.9% | 9.5% | 4.4pts |
| FY2022 | 11.0% | 10.9% | 0.1pts |
| FY2023 | -11.4% | 11.3% | -22.7pts |
| FY2024 | -6.2% | 12.7% | -19.0pts |
| FY2025 | 2.4% | 15.9% | -13.6pts |
| Now | -1.9% | 16.6% | -18.5pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2020 | 22.9% | -2.0% | 4.4% |
| FY2021 | 28.0% | 4.9% | 5.4% |
| FY2022 | 25.4% | 3.9% | 2.5% |
| FY2023 | 24.0% | -8.5% | 5.0% |
| FY2024 | 31.3% | -6.2% | -9.2% |
| FY2025 | 24.8% | 1.7% | -1.0% |
Return on equity (-2%) and return on invested capital (-2%) 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.
Net margin is -96.72% against 254.96% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Converts 0.73x of reported profit into cash — adequate, without much margin.
The cash conversion cycle has lengthened +59 days over 3 years to 476 — that many more days of the company's own cash funding the same volume of business.
Missing from our data, so excluded from this answer: share_based_compensation.
Stressed coverage falls to 0.3x — below the level at which interest is reliably covered.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 0.46x |
| 5% | 0.43x |
| 10% | 0.41x |
| 15% | 0.39x |
| 20% | 0.37x |
| 25% | 0.34x |
| 30% | 0.32x |
| 35% | 0.30x |
| 40% | 0.27x |
| 45% | 0.25x |
| 50% | 0.23x |
| 55% | 0.21x |
| 60% | 0.18x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Net debt is 3.8x EBITDA, so coverage today depends on earnings holding up rather than on the balance sheet.
At $1.44, free cash flow must compound -29.28%/yr for 10 years. It has done 43.27%/yr over 5 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 452.5% | −29.3% |
| FY2022 | −98.3% | −29.3% |
| FY2023 | −2143.0% | −29.3% |
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 | −$433,000 | −$433,000 |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $7M | $6M |
| Operating cash flow | $6M | $6M |
| Capex | −$202,000 | $6M |
| Free cash flow | $6M | $6M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 11.8% | not reported | not reported |
| FY2022 | 14.8% | 40.9% | 26.1 points |
| FY2023 | -6.1% | -33.4% | -27.3 points |
| FY2024 | -13.7% | 15.7% | 29.5 points |
| FY2025 | 44.1% | 13.5% | -30.6 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2020 | not reported | not reported | not reported | not reported |
| FY2021 | 62.2 days | 498.9 days | 67 days | 494.2 days |
| FY2022 | 76.3 days | 401 days | 61 days | 416.4 days |
| FY2023 | 54.1 days | 489.4 days | 45.9 days | 497.6 days |
| FY2024 | 72.6 days | 770.9 days | 95.1 days | 748.4 days |
| FY2025 | 57.2 days | 459.4 days | 40.9 days | 475.7 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | not reported |
| FY2021 | -7.0 percent |
| FY2022 | 0.1 percent |
| FY2023 | 3.0 percent |
| FY2024 | 14.4 percent |
| FY2025 | -11.0 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 1 year to the latest.
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.