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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.
Average free cash flow across the last 2 positive fiscal years (FY2013, FY2014). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $0.40 today, the market must believe free cash flow compounds -15.0%/yr for a decade (off $262K on the 3-yr avg basis).
Default is 8.9% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.00B shares (market data) · net debt -$738K
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean -2.6% · volatility σ 203% · implied rate exceeded in 1/3 yrs
Central path = implied -15.0%/yr growth; shaded band = ±1σ (203%) 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.
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.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$67K 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 6 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: -17%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 6 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 2026-10-30
Where each multiple sits in its own 4-yr range · 0th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 4-yr history.
Is the profit real, and how strong is the balance sheet?
FY2015 · every deduction from revenue to net income
DuPont — the three levers
ROE -17% against ROIC -17% — -1% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is -16.2% — the two diverge when buybacks or issuance move equity during the year.
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 40.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2010 | FY2011 | FY2012 | FY2013 | FY2014 | FY2015 |
|---|---|---|---|---|---|---|
| Cost of Revenue | — | — | — | 11.7 | 12.1 | 23.3 |
| R&D | — | — | — | 5.5 | 5.7 | 6.3 |
| SG&A | — | — | — | 27.0 | 28.0 | 52.8 |
| Operating Income | -21.9 | 5.7 | 15.9 | 31.0 | 26.6 | -28.9 |
| Income Tax | — | — | — | -26.3 | -24.1 | -8.5 |
| Net Income | -23.3 | 4.2 | 14.2 | 56.3 | 50.5 | -20.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SCDA: 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~5.6% on $102K of debt.
Cash of $841K fully covers short-term debt of $17K.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2015
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 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|
| Revenue | $1.9M 100.0% | $2.0M 100.0% | $1.5M 100.0% | $1.1M 100.0% | $981K 100.0% | $825K 100.0% |
| Cost of Revenue | $450K 23.3% | $246K 12.1% | $181K 11.7% | — | — | — |
| Research & Development | $122K 6.3% | $115K 5.7% | $85K 5.5% | — | — | — |
| Selling, General & Admin | $1.0M 52.8% | $571K 28.0% | $417K 27.0% | — | — | — |
| Total Operating Expenses | $2.5M 128.9% | $1.5M 73.4% | $1.1M 69.0% | $900K 84.1% | $925K 94.3% | $1.0M 121.9% |
| Operating Income | -$559K -28.9% | $541K 26.6% | $480K 31.0% | $170K 15.9% | $56K 5.7% | -$180K -21.9% |
| Interest Expense | $6K 0.3% | $4K 0.2% | -$7K -0.5% | -$4K -0.4% | -$4K -0.4% | -$4K -0.5% |
| Interest & Investment Income | $2K 0.1% | $1K 0.1% | $69 0.0% | — | — | — |
| Pretax Income | -$563K -29.1% | $539K 26.4% | — | — | — | — |
| Income Tax Expense | -$164K -8.5% | -$491K -24.1% | -$407K -26.3% | — | — | — |
| Net Income | -$398K -20.6% | $1.0M 50.5% | $871K 56.3% | $152K 14.2% | $42K 4.2% | -$192K -23.3% |
| Per Share | ||||||
| EPS (Basic) | — | $0.04 | $0.04 | $0.01 | — | — |
| EPS (Diluted) | — | $0.04 | $0.04 | $0.01 | — | — |
| Weighted Avg Shares (Basic) | — | 25.3M | 24.6M | 24.6M | — | — |
| Weighted Avg Shares (Diluted) | — | 25.3M | 24.7M | 24.6M | — | — |
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.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2010 | not reported | -21.9% | -23.3% |
| FY2011 | not reported | 5.7% | 4.2% |
| FY2012 | not reported | 15.9% | 14.2% |
| FY2013 | 88.3% | 31.0% | 56.3% |
| FY2014 | 87.9% | 26.6% | 50.5% |
| FY2015 | 76.7% | -28.9% | -20.6% |
Return on equity (-17%) and return on invested capital (-17%) are within a couple of points in FY2015, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
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.
Cash conversion of 0.47x sits below the level that would make the earnings clearly cash-backed.
Reported free cash flow is -$66,667; after share-based compensation it is -$139,060. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2015-10-31. 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, interest_expense.
At $0.40, free cash flow must compound -14.99%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2012 | 4103.7% | −15.0% |
| FY2013 | 226.3% | −15.0% |
| FY2014 | −73.4% | −15.0% |
| FY2015 | −160.7% | −15.0% |
The implied rate has been matched or beaten in 2 of the last 4 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | −$398,221 | −$398,221 |
| Share-based comp | $72,393 | −$325,828 |
| Other non-cash & working capital | $278,444 | −$47,384 |
| Operating cash flow | −$47,384 | −$47,384 |
| Capex | −$19,283 | −$66,667 |
| Free cash flow | −$66,667 | −$66,667 |
| FCF after SBC | −$139,060 | −$139,060 |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2011 | 19.0% | -18.6% | -37.5 points |
| FY2012 | 9.2% | 75.9% | 66.7 points |
| FY2013 | 44.5% | 14.0% | -30.5 points |
| FY2014 | 31.7% | 95.2% | 63.6 points |
| FY2015 | -5.0% | -74.8% | -69.8 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2010 | 32.4 days | not reported | not reported | not reported |
| FY2011 | 22.2 days | not reported | not reported | not reported |
| FY2012 | 35.8 days | not reported | not reported | not reported |
| FY2013 | 28.2 days | not reported | 407.5 days | -379.3 days |
| FY2014 | 41.8 days | not reported | 211.8 days | -169.9 days |
| FY2015 | 11.1 days | 0.2 days | 42.9 days | -31.6 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2010 | -113.0 percent |
| FY2011 | 76.5 percent |
| FY2012 | 5.5 percent |
| FY2013 | 40.4 percent |
| FY2014 | 26.9 percent |
| FY2015 | -12.6 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2015) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.