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Strong institutional distribution: ownership decreased -5.86% quarter-over-quarter.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
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.
EOD close · as of 2026-08-05 · 15d old
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $349.0M 100.0% | $300.0M 100.0% | $256.1M 100.0% | $235.5M 100.0% | $166.1M 100.0% |
| Research & Development | $14.9M 4.3% | $19.1M 6.4% | $4.9M 1.9% | $6.4M 2.7% | — |
| Selling, General & Admin | $64.0M 18.3% | $53.1M 17.7% | $51.3M 20.0% | $51.4M 21.8% | $4.9M 3.0% |
| Total Operating Expenses | $341.6M 97.9% | $278.8M 92.9% | $249.1M 97.3% | $228.0M 96.8% | $155.1M 93.4% |
| Operating Income | $7.4M 2.1% | $21.2M 7.1% | $7.0M 2.7% | $7.6M 3.2% | $11.0M 6.6% |
| Interest Expense | $27.5M 7.9% | $21.5M 7.2% | — | $6.6M 2.8% | $7.5M 4.5% |
| Other Income (Expense), net | -$23.7M -6.8% | -$15.8M -5.3% | $124.5M 48.6% | $1.9M 0.8% | $0 0.0% |
| Pretax Income | -$16.3M -4.7% | $5.4M 1.8% | $127.0M 49.6% | $32.6M 13.8% | $40.8M 24.5% |
| Income Tax Expense | -$52.7M -15.1% | -$8.9M -3.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Net Income | $36.4M 10.4% | $14.3M 4.8% | $127.0M 49.6% | $32.6M 13.8% | $40.8M 24.5% |
| Per Share | |||||
| EPS (Basic) | $0.15 | $0.02 | $0.70 | $0.13 | $0.00 |
| EPS (Diluted) | $0.15 | $0.02 | $0.69 | $0.12 | $0.00 |
| Weighted Avg Shares (Basic) | 28.1M | 27.6M | 27.1M | 25.8M | 0 |
| Weighted Avg Shares (Diluted) | 29.3M | 27.7M | 27.5M | 26.1M | 0 |
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.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash conversion lags reported earnings — watch accruals. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage rising 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 -$34M 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 5 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 10%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 5 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 $24M covers the $15M due within a year 1.6× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~7.6% on $361M of debt.
Cash vs short-term debt unavailable.
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.
EOD close · as of 2026-08-05
Where each multiple sits in its own 5-yr range · 50th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 5-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
Returns are margin-driven, not leverage-driven — higher quality.
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
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| R&D | — | 2.7 | 1.9 | 6.4 | 4.3 |
| SG&A | 3.0 | 21.8 | 20.0 | 17.7 | 18.3 |
| Operating Income | 6.6 | 3.2 | 2.7 | 7.1 | 2.1 |
| Income Tax | 0.0 | 0.0 | 0.0 | -3.0 | -15.1 |
| Net Income | 24.5 | 13.8 | 49.6 | 4.8 | 10.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on OPAL: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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.
Top 40 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 93 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ENIC | $310.6B | — | — | — | — | — | — | — | — | — | 165 |
| NMPWP | $287.4B | — | — | — | — | — | — | — | — | — | 5 |
| GEV | $274.4B | 57.5× | 137.0× | 7.2× | 9.0% | 19.8% | 12.8% | 43.7% | 43.4% | 0.0× | 2,989 |
| CEG | $82.7B | 35.8× | 21.7× | 3.2× | 8.3% | — | 9.1% | 16.0% | 9.9% | 2.2× | 1,836 |
| AEP | $68.4B | 19.0× | 13.2× | 3.1× | 10.9% | — | 16.9% | 11.9% | 4.8% | 5.3× | 1,854 |
| D | $60.0B | 19.8× | — | 3.6× | 14.2% | — | 18.2% | 10.3% | 3.8% | — | 1,421 |
| VST | $47.5B | 64.5× | 16.9× | 2.7× | 3.0% | — | 5.3% | 18.5% | 3.9% | 4.8× | 1,246 |
| ETR | $47.2B | 27.3× | 13.4× | 3.6× | 9.0% | — | 13.7% | 10.5% | 3.9% | 5.2× | 1,224 |
| EXC | $46.8B | — | 11.5× | 1.9× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.9× | 1,230 |
| ED | $39.1B | 19.2× | — | 2.3× | 10.9% | — | 0.0% | 0.0% | 0.0% | — | 1,368 |
| PEG | $37.6B | 17.9× | — | 3.1× | 18.3% | — | 17.3% | 12.4% | 5.5% | — | 1,231 |
| WEC | $35.2B | 22.5× | 14.9× | 3.6× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 1,310 |
| AEE | $30.1B | 20.4× | — | 3.4× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 884 |
| ATO | $27.9B | 23.1× | 12.1× | 5.9× | 12.9% | — | 25.5% | 8.8% | 8.8% | — | 961 |
| FE | $27.6B | 27.1× | 7.2× | 1.8× | 12.0% | — | 6.8% | 8.2% | 7.9% | 0.1× | 894 |
| ES | $27.2B | 15.9× | 10.0× | 2.0× | 13.8% | — | 12.5% | 10.5% | 3.9% | 5.0× | 1,012 |
| CNP | $26.5B | 25.4× | 13.1× | 2.8× | 8.3% | 100.0% | 11.2% | 9.4% | 3.3% | 5.8× | 774 |
| EIX | $26.3B | 5.9× | 6.3× | 1.4× | 9.8% | — | 23.1% | 25.4% | 8.0% | 3.7× | 1,005 |
| AWK | $26.2B | 23.6× | 10.0× | 5.1× | 10.1% | — | 21.7% | 10.3% | 8.9% | 0.6× | 1,100 |
| NRG | $23.0B | 30.1× | 10.7× | 0.8× | 9.2% | — | 2.8% | 51.4% | 4.8% | 5.0× | 1,010 |
| CEPU | $21.6B | — | — | — | — | — | — | — | — | — | 52 |
| NI | $20.5B | 22.0× | 7.0× | 3.1× | 23.5% | — | 14.3% | 9.8% | 9.1% | 0.2× | 831 |
| EVRG | $19.1B | 22.7× | 13.0× | 3.2× | 2.0% | — | 14.4% | 8.4% | 3.7% | 5.3× | 872 |
| LNT | $18.1B | 22.4× | 15.2× | 4.1× | 9.6% | 85.7% | 18.6% | 11.0% | 4.4% | 5.9× | 819 |
| TLN | $15.1B | — | 112.0× | 5.8× | 22.0% | — | -8.5% | -20.0% | -2.8% | 35.9× | 551 |
| OPAL | $66M | 15.7× | 13.9× | 0.2× | 16.3% | — | 10.4% | -282% | 10.5% | 12.5× | 76 |
Peers = companies sharing OPAL's sector (Utilities) 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.