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Institutional accumulation: ownership increased +1.25% 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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $0.50 today, the market must believe free cash flow compounds -25.7%/yr for a decade (off $5M normalized FCF).
The market's -25.7% is more conservative than its 2-yr track record.
2-stage DCF · 0.03B shares · net debt -$3M
mean 139.5% · volatility σ 184% · implied rate exceeded in 2/2 yrs
Central path = implied -25.7%/yr growth; shaded band = ±1σ (184%) 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.
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 |
|---|---|---|---|
| Revenue | $25.1M 100.0% | $25.5M 100.0% | $32.4M 100.0% |
| Cost of Revenue | $17.3M 68.8% | $18.2M 71.2% | $18.1M 55.7% |
| Gross Profit | $7.8M 31.2% | $7.3M 28.8% | $14.4M 44.3% |
| Research & Development | $621K 2.5% | $601K 2.4% | — |
| Selling, General & Admin | $2.3M 9.2% | $1.7M 6.5% | $876K 2.7% |
| Total Operating Expenses | $2.9M 11.7% | $2.3M 8.9% | $876K 2.7% |
| Operating Income | $4.9M 19.5% | $5.1M 19.9% | $13.5M 41.6% |
| Interest Expense | $1.9M 7.6% | $2.7M 10.6% | $2.7M 8.4% |
| Interest & Investment Income | $4K 0.0% | $307K 1.2% | $195K 0.6% |
| Other Income (Expense), net | -$1.8M -7.1% | -$1.9M -7.6% | -$2.6M -8.1% |
| Pretax Income | $3.1M 12.4% | $3.1M 12.3% | $10.9M 33.6% |
| Net Income | $3.1M 12.4% | $3.1M 12.3% | $10.9M 33.5% |
| Per Share | |||
| EPS (Basic) | $0.10 | $0.10 | $0.40 |
| EPS (Diluted) | $0.10 | $0.10 | $0.40 |
| Weighted Avg Shares (Basic) | 25.4M | 24.6M | 24.5M |
| Weighted Avg Shares (Diluted) | 25.4M | 24.6M | 24.5M |
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.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling 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 $6M 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 3 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
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 3 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.
Cash of $6M covers all $4M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (6-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~65.7% on $3M of debt.
Cash of $6M fully covers short-term debt of $2M.
Mostly short-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.
EOD close · as of 2026-09-14
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
High operating leverage: profit moved 2.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cost of Revenue | 55.7 | 71.2 | 68.8 |
| Gross Profit | 44.3 | 28.8 | 31.2 |
| R&D | — | 2.4 | 2.5 |
| SG&A | 2.7 | 6.5 | 9.2 |
| Operating Income | 41.6 | 19.9 | 19.5 |
| Net Income | 33.5 | 12.3 | 12.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NCT: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Top 6 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
Ranked against 651 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LTM | $29.18T | — | — | — | — | — | — | — | — | — | 160 |
| CAT | $364.8B | 41.7× | 29.1× | 5.4× | 4.3% | 33.8% | 13.1% | 41.7% | 15.4% | 2.7× | 3,616 |
| GE | $333.0B | 39.0× | — | 7.3× | 18.5% | — | 19.0% | 46.6% | 22.2% | — | 3,077 |
| RTX | $262.2B | 39.4× | 18.6× | 3.0× | 9.7% | — | 7.6% | 10.3% | 10.3% | 0.0× | 3,277 |
| BA | $212.8B | 84.8× | 42.4× | 2.4× | 34.5% | 4.8% | 2.5% | 41.0% | 3.3% | 10.0× | 2,435 |
| DE | $184.3B | 36.8× | — | 4.0× | -11.7% | — | 11.0% | 19.4% | 12.6% | — | 2,491 |
| ABBNY | $170.8B | 46.1× | 30.5× | 5.3× | 9.5% | 34.8% | 11.9% | 28.5% | 20.4% | 0.9× | 48 |
| UNP | $169.1B | 23.8× | 16.2× | 6.9× | 1.1% | — | 29.1% | 38.7% | 14.2% | 2.6× | 2,648 |
| ETN | $152.5B | 37.6× | — | 5.6× | 10.3% | 37.6% | 14.9% | 21.0% | 13.9% | — | 2,398 |
| HON | $127.9B | 27.4× | 15.8× | 3.4× | 7.8% | 36.9% | 12.6% | 34.0% | 9.8% | 3.6× | 2,694 |
| LMT | $121.2B | 24.6× | 15.9× | 1.6× | 5.6% | 10.2% | 6.7% | 74.6% | 17.7% | 2.5× | 2,807 |
| PH | $119.2B | 34.3× | 26.9× | 6.0× | -0.4% | 36.9% | 17.8% | 25.8% | 16.7% | 1.6× | 1,845 |
| ADP | $110.0B | 25.3× | — | 5.0× | 6.7% | 46.4% | 20.1% | 73.2% | 40.1% | — | 2,179 |
| GD | $96.5B | 23.1× | 16.9× | 1.8× | 10.1% | — | 8.0% | 16.4% | 12.5% | 1.3× | 2,123 |
| TT | $95.0B | 32.8× | 23.4× | 4.5× | 7.5% | — | 13.7% | 34.0% | 22.1% | 1.1× | 1,658 |
| PWR | $93.0B | 91.5× | 46.1× | 3.3× | 20.3% | 15.0% | 3.6% | 11.5% | 10.6% | 0.4× | 1,659 |
| HWM | $91.2B | 61.2× | 40.2× | 11.1× | 11.1% | — | 18.3% | 28.2% | 17.9% | 1.3× | 1,399 |
| CSX | $91.0B | 31.8× | 14.7× | 6.5× | -3.1% | — | 20.5% | 22.0% | 22.0% | — | 1,791 |
| VRT | $90.8B | 69.6× | 43.0× | 8.9× | 27.7% | 36.3% | 13.0% | 33.8% | 19.4% | 1.4× | 1,748 |
| JCI | $89.8B | 27.4× | — | 3.8× | 2.8% | 36.4% | 13.9% | 25.5% | 14.4% | — | 1,487 |
| WM | $87.9B | 32.5× | 12.3× | 3.5× | 14.2% | 40.4% | 10.7% | 27.1% | 25.3% | 0.1× | 2,262 |
| UPS | $87.0B | 15.6× | 9.7× | 1.0× | -2.6% | — | 6.3% | 34.3% | 13.8% | 2.2× | 2,025 |
| MMM | $85.9B | 27.0× | 16.6× | 3.4× | 1.5% | 39.9% | 13.0% | 69.1% | 18.8% | 2.1× | 2,051 |
| EMR | $83.5B | 36.7× | — | 4.6× | 3.0% | 52.8% | 12.7% | 11.3% | 6.9% | — | 2,112 |
| CTAS | $80.9B | 45.6× | 29.1× | 7.8× | 7.7% | 50.0% | 17.5% | 38.7% | 25.5% | 0.8× | 1,366 |
| NCT | $13M | 5.0× | 1.8× | 0.5× | -1.5% | 31.2% | 12.3% | 12.5% | 11.2% | 0.5× | 6 |
Peers = companies sharing NCT's sector (Industrials) 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.