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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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Solve the discounted cash flow backwards, then stress-test the assumptions.
The most recent twelve months of free cash flow. Most current, and the most exposed to one quarter of working-capital timing.
To be worth $14.75 today, the market must believe free cash flow compounds 18.1%/yr for a decade (off $23.8M on the TTM basis).
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.07B shares (market data) · net debt -$57.6M
mean -80.5% · volatility σ 125% · implied rate exceeded in 0/7 yrs
Central path = implied 18.1%/yr growth; shaded band = ±1σ (125%) 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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$21.8M 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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Modest payoff on reinvested capital. Current ROIC on all capital: -10%. 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 2026-10-21
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 | $342.3M 100.0% | $353.8M 100.0% | $345.9M 100.0% | $335.8M 100.0% | $329.4M 100.0% | $381.6M 100.0% | $374.9M 100.0% | $362.4M 100.0% | $311.2M 100.0% | $302.6M 100.0% |
| Gross Profit | $123.4M 36.0% | $132.3M 37.4% | $128.1M 37.0% | $122.4M 36.4% | $123.5M 37.5% | $138.1M 36.2% | $140.7M 37.5% | $141.4M 39.0% | $124.9M 40.1% | $130.5M 43.1% |
| Selling, General & Admin | $24.2M 7.1% | $22.4M 6.3% | $18.9M 5.5% | $17.3M 5.1% | $16.8M 5.1% | $21.6M 5.7% | $20.5M 5.5% | $17.3M 4.8% | $15.7M 5.0% | $12.1M 4.0% |
| Total Operating Expenses | $366.8M 107.2% | $486.6M 137.5% | $350.3M 101.3% | $367.3M 109.4% | $370.4M 112.5% | $406.7M 106.6% | $415.5M 110.8% | $365.5M 100.9% | $323.8M 104.1% | $307.2M 101.5% |
| Operating Income | $3.3M 1.0% | -$123.5M -34.9% | -$4.7M -1.4% | -$31.5M -9.4% | -$37.4M -11.4% | -$19.9M -5.2% | -$31.8M -8.5% | -$3.2M -0.9% | -$12.2M -3.9% | -$3.3M -1.1% |
| Interest Expense | $61.3M 17.9% | $69.4M 19.6% | $66.1M 19.1% | $51.7M 15.4% | $47.9M 14.5% | $51.5M 13.5% | $56.1M 15.0% | $49.5M 13.7% | $30.3M 9.7% | $19.9M 6.6% |
| Other Income (Expense), net | -$60.8M -17.8% | -$66.5M -18.8% | -$67.3M -19.5% | -$47.9M -14.3% | -$47.8M -14.5% | -$51.6M -13.5% | -$56.1M -15.0% | -$49.6M -13.7% | -$29.8M -9.6% | -$19.7M -6.5% |
| Pretax Income | -$57.5M -16.8% | -$190.0M -53.7% | -$72.1M -20.8% | -$79.4M -23.6% | -$85.2M -25.9% | -$71.4M -18.7% | -$87.9M -23.4% | -$52.8M -14.6% | -$42.1M -13.5% | -$23.1M -7.6% |
| Income Tax Expense | $161K 0.0% | $262K 0.1% | $303K 0.1% | $201K 0.1% | $203K 0.1% | $4.1M 1.1% | $399K 0.1% | $197K 0.1% | $647K 0.2% | -$2.1M -0.7% |
| Net Income | -$57.7M -16.9% | -$190.3M -53.8% | -$72.4M -20.9% | -$79.6M -23.7% | -$85.4M -25.9% | -$75.5M -19.8% | -$88.1M -23.5% | -$52.8M -14.6% | -$42.5M -13.7% | -$20.9M -6.9% |
| Per Share | ||||||||||
| EPS (Basic) | -$2.51 | -$7.19 | -$3.04 | -$3.30 | -$0.82 | -$0.74 | -$0.88 | — | — | — |
| EPS (Diluted) | -$2.51 | -$7.19 | -$3.04 | -$3.30 | -$0.82 | -$0.74 | -$0.88 | — | — | — |
| Weighted Avg Shares (Basic) | 28.3M | 28.3M | 28.3M | 28.3M | 113.0M | 106.1M | 100.1M | — | — | — |
| Weighted Avg Shares (Diluted) | 28.3M | 28.3M | 28.3M | 28.3M | 113.0M | 106.1M | 100.1M | — | — | — |
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 2026-10-21
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -10% against ROIC -10% — 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
High operating leverage: profit moved 31.5× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Gross Profit | 39.0 | 37.5 | 36.2 | 37.5 | 36.4 | 37.0 | 37.4 | 36.0 |
| SG&A | 4.8 | 5.5 | 5.7 | 5.1 | 5.1 | 5.5 | 6.3 | 7.1 |
| Operating Income | -0.9 | -8.5 | -5.2 | -11.4 | -9.4 | -1.4 | -34.9 | 1.0 |
| Income Tax | 0.1 | 0.1 | 1.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 |
| Net Income | -14.6 | -23.5 | -19.8 | -25.9 | -23.7 | -20.9 | -53.8 | -16.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NHP: 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 $57.6M is below the $333.2M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
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. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.