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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 same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
On the SBC-adjusted basis free cash flow is -$12.0M — there is nothing left to discount once stock compensation is charged, so no growth rate can be solved for. The 3-yr avg basis gives $39.5M over those same years — the whole difference is the stock compensation.
mean 1967.4% · volatility σ 4495%
Central path = implied —/yr growth; shaded band = ±1σ (4495%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
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.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 5% of free cash flow, leaving room to grow it and fund buybacks. Last year: $4.2M dividends + $0 buybacks = $4.2M returned on $91.2M 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 8 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: -0%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 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
Where each multiple sits in its own 6-yr range · 0th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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 -0% against ROIC -0% — -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 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 71.4 | 70.1 | 65.7 | 67.5 | 64.6 | 61.5 | 60.1 | 59.7 |
| SG&A | 21.7 | 21.3 | 26.1 | 21.5 | 32.4 | 35.7 | 37.6 | 32.6 |
| Operating Income | -5.6 | -3.8 | -7.0 | -1.7 | -5.1 | -4.6 | -5.3 | 1.4 |
| Income Tax | -2.6 | -1.3 | 0.3 | 0.3 | 0.4 | -0.2 | 1.1 | 1.5 |
| Net Income | -8.7 | -10.1 | -17.7 | -4.6 | -5.8 | -4.9 | -8.9 | -0.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ONT: 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 $11.2M (at 2025-12-31) covers the $0 due within a year 11223000.0× over. 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).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash of $11.2M is below short-term debt of $11.2M — relies on refinancing/operations.
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.
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.
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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $830.5M 100.0% | $696.4M 100.0% | $624.2M 100.0% | $544.4M 100.0% | $546.4M 100.0% | $328.2M 100.0% | $233.9M 100.0% | $188.8M 100.0% |
| Cost of Revenue | $496.2M 59.7% | $418.2M 60.1% | $383.9M 61.5% | $351.9M 64.6% | $369.0M 67.5% | $215.5M 65.7% | $164.0M 70.1% | $134.7M 71.4% |
| Selling, General & Admin | $270.8M 32.6% | $261.6M 37.6% | $222.9M 35.7% | $176.3M 32.4% | $117.7M 21.5% | $85.5M 26.1% | $49.7M 21.3% | $41.0M 21.7% |
| Operating Income | $11.7M 1.4% | -$36.7M -5.3% | -$28.4M -4.6% | -$28.0M -5.1% | -$9.5M -1.7% | -$23.0M -7.0% | -$8.9M -3.8% | -$10.6M -5.6% |
| Other Income (Expense), net | -$504K -0.1% | -$17.6M -2.5% | -$3.4M -0.5% | -$1.6M -0.3% | -$14.2M -2.6% | -$34.1M -10.4% | -$17.7M -7.6% | -$10.8M -5.7% |
| Pretax Income | $11.2M 1.4% | -$54.3M -7.8% | -$31.8M -5.1% | -$29.6M -5.4% | -$23.6M -4.3% | -$57.1M -17.4% | -$26.7M -11.4% | -$21.5M -11.4% |
| Income Tax Expense | $12.1M 1.5% | $8.0M 1.1% | -$980K -0.2% | $2.3M 0.4% | $1.7M 0.3% | $851K 0.3% | -$3.1M -1.3% | -$5.0M -2.6% |
| Net Income | -$843K -0.1% | -$62.3M -8.9% | -$30.9M -4.9% | -$31.8M -5.8% | -$25.3M -4.6% | -$57.9M -17.7% | -$23.6M -10.1% | -$16.5M -8.7% |
| Per Share | ||||||||
| EPS (Basic) | -$0.14 | -$2.22 | -$1.57 | -$1.62 | -$1.56 | -$6.48 | — | — |
| EPS (Diluted) | -$0.14 | -$2.22 | -$1.57 | -$1.62 | -$1.56 | -$6.48 | — | — |
| Weighted Avg Shares (Basic) | 35.1M | 33.1M | 30.1M | 29.7M | 26.7M | 16.5M | — | — |
| Weighted Avg Shares (Diluted) | 35.1M | 33.1M | 30.1M | 29.7M | 26.7M | 16.5M | — | — |
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.