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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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A reverse discounted cash flow is not shown for a company with no positive EBITDA.
No positive EBITDA in the recent record, so there is no return on capital to compare against its cost. Equity is negative, so debt/equity and ROE invert their signs and read as the opposite of what they mean.
Classified from the filings: EBITDA negative in each of the last 2 years.
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 -$1.2M 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 10 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: 29%. 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.
Cash of $36K is below the $8.5M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~0.2% on $9.8M of debt.
Cash of $12K is below short-term debt of $9.6M — relies on refinancing/operations.
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 2026-10-29
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 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $258K 100.0% | $246K 100.0% | $206K 100.0% | $146K 100.0% | $98K 100.0% | $52K 100.0% | $104K 100.0% | $131K 100.0% | $121K 100.0% | $168K 100.0% |
| Cost of Revenue | $184K 71.3% | $241K 97.7% | $178K 86.4% | $163K 111.7% | $41K 42.2% | — | — | $69K 52.7% | $27K 22.2% | $39K 23.1% |
| Gross Profit | $197K 76.3% | $247K 100.4% | $396K 192.9% | $249K 170.8% | $8K 8.7% | $15K 28.7% | $35K 33.3% | $14K 10.8% | $94K 77.8% | -$55K -32.5% |
| Selling, General & Admin | — | $1.1M 457.0% | $1.2M 573.0% | $2.1M 1429.8% | $1.9M 1973.3% | $1.1M 2122.2% | $1.2M 1152.2% | $1.4M 1062.4% | $1.5M 1220.1% | $2.0M 1181.3% |
| Total Operating Expenses | $1.7M 644.0% | $1.1M 457.0% | $1.3M 624.3% | $2.2M 1479.0% | $2.0M 2043.2% | $940K 1811.0% | $1.3M 1211.4% | $1.9M 1449.5% | — | — |
| Operating Income | -$1.5M -567.7% | -$878K -356.6% | -$887K -431.5% | -$1.9M -1308.2% | -$2.0M -2034.5% | -$925K -1782.3% | -$1.2M -1178.1% | -$1.9M -1438.7% | -$1.4M -1142.3% | -$2.0M -1213.8% |
| Interest Expense | $23K 8.9% | $21K 8.6% | $19K 9.2% | $17K 11.8% | $18K 18.7% | $316K 609.3% | $244K 234.0% | $574K 439.8% | $343K 283.7% | $294K 174.5% |
| Other Income (Expense), net | -$585K -227.1% | -$407K -165.3% | -$506K -246.3% | $10.1M 6916.5% | -$11.1M -11364.5% | $156K 300.1% | -$5.4M -5135.9% | -$2.0M -1535.9% | — | — |
| Pretax Income | -$2.0M -794.8% | -$1.3M -522.0% | -$1.4M -677.8% | $8.2M 5608.3% | -$13.1M -13399.0% | -$769K -1482.1% | -$6.6M -6314.1% | -$3.9M -2974.6% | -$4.0M -3330.1% | -$3.4M -2047.8% |
| Net Income | -$2.0M -794.8% | -$1.3M -522.0% | -$1.4M -677.8% | $8.2M 5608.3% | -$13.1M -13399.0% | -$769K -1482.1% | -$6.6M -6314.1% | -$3.9M -2974.6% | -$4.0M -3330.1% | -$3.4M -2047.8% |
| Per Share | ||||||||||
| EPS (Basic) | $0.00 | $0.00 | $0.00 | $0.00 | -$0.00 | — | — | — | — | — |
| EPS (Diluted) | $0.00 | $0.00 | $0.00 | $0.00 | -$0.00 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 7.78B | 7.67B | 7.61B | 7.50B | 7.23B | — | — | — | — | — |
| Weighted Avg Shares (Diluted) | 7.78B | 7.67B | 7.61B | 19.10B | 7.23B | — | — | — | — | — |
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.
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 2026-10-29
Where each multiple sits in its own 14-yr range · 7th 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
ROE 12% against ROIC 29% — -17% 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 14.5× 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 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 52.7 | — | — | 42.2 | 111.7 | 86.4 | 97.7 | 71.3 |
| Gross Profit | 10.8 | 33.3 | 28.7 | 8.7 | 170.8 | 192.9 | 100.4 | 76.3 |
| SG&A | 1062.4 | 1152.2 | 2122.2 | 1973.3 | 1429.8 | 573.0 | 457.0 | — |
| Operating Income | -1438.7 | -1178.1 | -1782.3 | -2034.5 | -1308.2 | -431.5 | -356.6 | -567.7 |
| Net Income | -2974.6 | -6314.1 | -1482.1 | -13399.0 | 5608.3 | -677.8 | -522.0 | -794.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on NPHC: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | -32.5% | -1213.8% | -2047.8% |
| FY2017 | 77.8% | -1142.3% | -3330.1% |
| FY2018 | 10.8% | -1438.7% | -2974.6% |
| FY2019 | 33.3% | -1178.1% | -6314.1% |
| FY2020 | 28.7% | -1782.3% | -1482.1% |
| FY2021 | 8.7% | -2034.5% | -13399.0% |
| FY2022 | 170.8% | -1308.2% | 5608.3% |
| FY2023 | 192.9% | -431.5% | -677.8% |
| FY2024 | 100.4% | -356.6% | -522.0% |
| FY2025 | 76.3% | -567.7% | -794.8% |
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: tax_rate.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2024-12-31, 669 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2024-12-31 (10-K); cash from the 2024-12-31 balance sheet; FCF from FY2024. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2024-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
No positive free cash flow to discount, so the price cannot be expressed as a growth requirement.
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: free_cash_flow.