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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 3 positive fiscal years (FY2025, FY2026, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $13.22 today, the market must believe free cash flow compounds -13.9%/yr for a decade (off $54.2M on the 3-yr avg basis).
On the basis ($47.5M) the requirement is -11.8%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -13.9% is more conservative than its 9-yr track record.
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.03B shares (market data) · net debt -$117.1M
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 12.2% · volatility σ 112% · implied rate exceeded in 4/8 yrs
Central path = implied -13.9%/yr growth; shaded band = ±1σ (112%) 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.
The dividend is comfortably covered — only 63% of free cash flow, leaving room to grow it and fund buybacks. Last year: $16.7M dividends + $0 buybacks = $16.7M returned on $26.6M FCF.
5 consecutive years of dividend increases · 9%/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.
Modest payoff on reinvested capital. Current ROIC on all capital: 8%. 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.
EOD close · as of 2026-10-21
Where each multiple sits in its own 14-yr range · 32th 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?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 8% against ROIC 8% — 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
High operating leverage: profit moved 4.8× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 70.0 | 69.9 | 71.3 | 60.4 | 62.9 | 64.2 | 64.4 | 63.4 |
| Gross Profit | 30.0 | 30.1 | 28.7 | 39.6 | 37.1 | 35.8 | 35.6 | 36.6 |
| SG&A | 25.2 | 24.9 | 26.4 | 24.0 | 25.5 | 27.9 | 28.1 | 30.7 |
| Operating Income | 4.8 | 5.2 | 2.2 | 15.6 | 11.6 | 8.0 | 7.6 | 5.9 |
| Income Tax | 1.2 | 1.1 | 0.6 | 3.9 | 2.9 | 1.9 | 2.0 | 1.6 |
| Net Income | 3.7 | 4.1 | 1.6 | 11.6 | 8.7 | 6.2 | 6.1 | 4.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SHOE: 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.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. 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 — FY2026
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 | FY2026 | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2021 | FY2020 | FY2019 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.14B 100.0% | $1.20B 100.0% | $1.18B 100.0% | $1.26B 100.0% | $1.33B 100.0% | $976.8M 100.0% | $1.04B 100.0% | $1.03B 100.0% | $1.02B 100.0% | $1.00B 100.0% |
| Cost of Revenue | $720.2M 63.4% | $774.1M 64.4% | $754.5M 64.2% | $794.1M 62.9% | $803.6M 60.4% | $696.8M 71.3% | $724.7M 69.9% | $720.7M 70.0% | $722.9M 70.9% | $711.9M 71.1% |
| Cost of Products | — | — | — | — | — | — | — | — | $722.9M 70.9% | $711.9M 71.1% |
| Gross Profit | $415.1M 36.6% | $428.8M 35.6% | $421.4M 35.8% | $468.2M 37.1% | $526.8M 39.6% | $280.0M 28.7% | $311.9M 30.1% | $309.0M 30.0% | $296.3M 29.1% | $289.2M 28.9% |
| Selling, General & Admin | $348.4M 30.7% | $337.6M 28.1% | $327.9M 27.9% | $321.7M 25.5% | $319.1M 24.0% | $258.1M 26.4% | $257.7M 24.9% | $259.2M 25.2% | $258.6M 25.4% | $251.3M 25.1% |
| Operating Income | $66.8M 5.9% | $91.2M 7.6% | $93.5M 8.0% | $146.4M 11.6% | $207.7M 15.6% | $21.9M 2.2% | $54.2M 5.2% | $49.8M 4.8% | $37.7M 3.7% | $37.9M 3.8% |
| Interest Expense | $373K 0.0% | $314K 0.0% | $282K 0.0% | $294K 0.0% | $478K 0.0% | $412K 0.0% | $191K 0.0% | $150K 0.0% | $292K 0.0% | $169K 0.0% |
| Interest & Investment Income | $4.0M 0.4% | $3.6M 0.3% | $2.9M 0.2% | $972K 0.1% | $24K 0.0% | $97K 0.0% | $730K 0.1% | $747K 0.1% | $4K 0.0% | $6K 0.0% |
| Other Income (Expense), net | $0 0.0% | $3.0M 0.3% | $0 0.0% | $0 0.0% | — | — | — | — | — | — |
| Pretax Income | $70.4M 6.2% | $97.5M 8.1% | $96.1M 8.2% | $147.1M 11.7% | $207.2M 15.6% | $21.6M 2.2% | $54.7M 5.3% | $50.4M 4.9% | $37.4M 3.7% | $37.7M 3.8% |
| Income Tax Expense | $18.1M 1.6% | $23.7M 2.0% | $22.8M 1.9% | $37.1M 2.9% | $52.3M 3.9% | $5.6M 0.6% | $11.8M 1.1% | $12.2M 1.2% | $18.5M 1.8% | $14.2M 1.4% |
| Net Income | $52.3M 4.6% | $73.8M 6.1% | $73.3M 6.2% | $110.1M 8.7% | $154.9M 11.6% | $16.0M 1.6% | $42.9M 4.1% | $38.1M 3.7% | $18.9M 1.9% | $23.5M 2.3% |
| Per Share | ||||||||||
| EPS (Basic) | $1.91 | $2.72 | $2.69 | $4.00 | $5.49 | $0.57 | $1.49 | $2.51 | $1.15 | $1.28 |
| EPS (Diluted) | $1.90 | $2.68 | $2.68 | $3.96 | $5.42 | $0.56 | $1.46 | $2.45 | $1.15 | $1.28 |
| Weighted Avg Shares (Basic) | 27.3M | 27.2M | 27.2M | 27.5M | 28.2M | 28.1M | 28.9M | 15.1M | 16.2M | 18.0M |
| Weighted Avg Shares (Diluted) | 27.5M | 27.5M | 27.4M | 27.8M | 28.6M | 28.5M | 29.4M | 15.5M | 16.2M | 18.0M |
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.