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Institutional distribution: ownership decreased -0.66% quarter-over-quarter.
Data as of Q1 2026
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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.
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
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.
EOD close · as of 2026-09-14
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 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $357.9M 100.0% | $328.1M 100.0% | $269.1M 100.0% | $248.9M 100.0% | $245.2M 100.0% | $220.8M 100.0% | $206.9M 100.0% | $192.7M 100.0% | $612.0M 100.0% | $535.3M 100.0% |
| Cost of Revenue | — | — | — | — | — | — | — | — | $211.5M 34.6% | $193.5M 36.2% |
| Selling, General & Admin | $118.2M 33.0% | $115.2M 35.1% | $99.3M 36.9% | $91.1M 36.6% | $82.5M 33.6% | $85.0M 38.5% | $77.8M 37.6% | $70.8M 36.8% | $165.9M 27.1% | $133.3M 24.9% |
| Total Operating Expenses | $381.1M 106.5% | $356.6M 108.7% | $277.8M 103.2% | $275.3M 110.6% | $247.7M 101.0% | $221.9M 100.5% | $207.6M 100.3% | $195.7M 101.5% | $565.5M 92.4% | $512.8M 95.8% |
| Operating Income | -$23.2M -6.5% | -$28.6M -8.7% | $142K 0.1% | -$17.5M -7.0% | -$2.4M -1.0% | -$2.6M -1.2% | -$1.3M -0.6% | -$3.0M -1.5% | $46.5M 7.6% | $22.5M 4.2% |
| Interest Expense | $25.4M 7.1% | $15.9M 4.8% | $4.2M 1.6% | $1.6M 0.6% | $2.6M 1.1% | — | $29.5M 14.2% | $34.8M 18.1% | $38.2M 6.2% | $25.1M 4.7% |
| Other Income (Expense), net | $6.8M 1.9% | $6.5M 2.0% | $5.6M 2.1% | $215K 0.1% | $8.7M 3.5% | $3.2M 1.4% | $3.3M 1.6% | $3.7M 1.9% | $5.0M 0.8% | $4.3M 0.8% |
| Pretax Income | -$41.9M -11.7% | -$38.0M -11.6% | $1.5M 0.6% | -$18.8M -7.6% | $6.2M 2.5% | $586K 0.3% | $1.9M 0.9% | $734K 0.4% | $13.3M 2.2% | $1.9M 0.4% |
| Income Tax Expense | -$8.9M -2.5% | -$9.7M -2.9% | $501K 0.2% | -$3.4M -1.4% | -$1.7M -0.7% | -$990K -0.4% | $6K 0.0% | -$1.3M -0.7% | -$53.1M -8.7% | $2.8M 0.5% |
| Net Income | -$32.9M -9.2% | $193.8M 59.1% | $8.0M 3.0% | -$8.4M -3.4% | $998.8M 407.3% | $125.7M 56.9% | $55.5M 26.8% | $46.6M 24.2% | $66.4M 10.8% | -$895K -0.2% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.71 | $3.54 | $0.16 | $-0.17 | $19.97 | $2.52 | $1.11 | $0.94 | $1.35 | $-0.02 |
| EPS (Diluted) | $-0.71 | $3.54 | $0.16 | $-0.17 | $19.92 | $2.51 | $1.11 | $0.93 | $1.33 | $-0.02 |
| Weighted Avg Shares (Basic) | 55.1M | 53.7M | 50.4M | 50.2M | 50.0M | 49.9M | 49.8M | 49.5M | 49.1M | 48.8M |
| Weighted Avg Shares (Diluted) | 55.1M | 53.7M | 50.7M | 50.2M | 50.1M | 50.0M | 50.1M | 50.1M | 50.0M | 48.8M |
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.
3/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Insufficient balance-sheet detail (needs retained earnings, working capital, equity).
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling 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.
Free-cash-flow coverage unavailable. Last year: $6M dividends + $0 buybacks = $6M returned on -$258M FCF.
3 consecutive years of dividend increases · -8%/yr.
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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -2%. 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 $27M covers the $656000 due within a year 41.6× over. Scheduled principal only (excludes interest & revolver draws). As of 2022-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~4.0% on $628M of debt.
Cash of $27M fully covers short-term debt of $0.
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.
Ranked against 192 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GOOG | $4.18T | 32.0× | 27.9× | 10.4× | 15.1% | 59.7% | 32.8% | 31.8% | 28.5% | 0.3× | 4,874 |
| META | $1.68T | 28.3× | 16.7× | 8.3× | 22.2% | 82.0% | 30.1% | 27.8% | 21.9% | 0.6× | 4,839 |
| AMX | $1.41T | — | — | — | — | — | — | — | — | — | 318 |
| CHT | $351.0B | — | — | — | — | — | — | — | — | — | 206 |
| NFLX | $339.1B | 31.8× | 25.2× | 7.5× | 15.9% | 48.5% | 24.3% | 41.3% | 26.7% | 1.1× | 3,458 |
| CCZ | $239.2B | 12.0× | 6.4× | 1.9× | -0.0% | — | 16.2% | 20.6% | 19.4% | 0.2× | 1 |
| VZ | $216.8B | 12.6× | 4.4× | 1.6× | 2.5% | — | 12.4% | 16.2% | 16.2% | 0.0× | 3,122 |
| DIS | $206.3B | 15.8× | 10.6× | 2.2× | 3.4% | — | 13.1% | 11.3% | 8.2% | 1.8× | 2,883 |
| TMUS | $202.5B | 18.8× | 8.9× | 2.3× | 8.5% | — | 12.4% | 18.6% | 7.6% | 2.7× | 1,648 |
| T | $190.1B | 8.7× | 7.0× | 1.5× | 2.7% | — | 17.5% | 17.4% | 8.1% | 3.2× | 2,848 |
| VEON | $127.3B | — | — | — | — | — | — | — | — | — | 97 |
| DASH | $86.9B | 95.6× | 56.1× | 6.3× | 27.9% | — | 6.8% | 9.3% | 9.3% | — | 973 |
| WBD | $69.7B | 96.9× | 15.2× | 1.9× | -5.1% | — | 1.9% | 2.0% | 1.1% | 5.1× | 1,259 |
| EA | $52.6B | 59.7× | 36.1× | 7.0× | 0.9% | 79.0% | 11.8% | 13.1% | 13.1% | — | 998 |
| TTWO | $41.3B | — | 448.6× | 6.2× | 18.2% | 57.2% | -4.5% | -8.5% | -4.9% | 26.7× | 1,011 |
| LYV | $40.4B | — | 25.5× | 1.6× | 8.8% | — | 2.0% | 183% | 5.9% | 5.0× | 779 |
| TWLO | $35.3B | 1104.2× | 100.9× | 7.0× | 13.7% | 48.9% | 0.7% | 0.4% | 0.4% | 2.8× | 776 |
| RDDT | $30.3B | 62.0× | 64.0× | 13.7× | 69.4% | 91.2% | 24.1% | 18.1% | 18.1% | — | 765 |
| FOX | $28.2B | 12.4× | — | 1.7× | 16.6% | — | 14.1% | 19.2% | 12.4% | — | 505 |
| OMC | $25.4B | — | 58.9× | 1.5× | 10.1% | 8.5% | -0.3% | -0.5% | -0.3% | 15.8× | 1,083 |
| ROKU | $23.3B | 266.9× | 542.6× | 4.9× | 15.2% | 43.8% | 1.9% | 3.3% | 3.3% | — | 665 |
| FWONA | $21.9B | — | 40.1× | 4.9× | 22.7% | — | 12.4% | 7.2% | 4.3% | 7.9× | 283 |
| CHTR | $19.4B | 4.0× | 5.4× | 0.3× | -0.6% | — | 9.1% | 31.1% | 4.5% | 4.5× | 760 |
| NWS | $19.2B | 16.4× | — | 2.3× | 2.4% | — | 14.0% | 13.4% | 11.0% | — | 304 |
| TKO | $15.7B | 85.7× | 14.1× | 3.3× | -3.1% | — | 4.1% | 5.2% | 2.6% | 2.9× | 616 |
| SHEN | $647M | — | 11.7× | 1.8× | 9.1% | — | -9.2% | -3.7% | -2.2% | 5.9× | 161 |
Peers = companies sharing SHEN's sector (Communication Services) 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.
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 2026-09-14
No standout strengths flagged.
Where each multiple sits in its own 14-yr range · 38th 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
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
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 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 36.8 | 37.6 | 38.5 | 33.6 | 36.6 | 36.9 | 35.1 | 33.0 |
| Operating Income | -1.5 | -0.6 | -1.2 | -1.0 | -7.0 | 0.1 | -8.7 | -6.5 |
| Income Tax | -0.7 | 0.0 | -0.4 | -0.7 | -1.4 | 0.2 | -2.9 | -2.5 |
| Net Income | 24.2 | 26.8 | 56.9 | 407.3 | -3.4 | 3.0 | 59.1 | -9.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SHEN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.