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Held by 810 of 2,417 reporting institutions (99th percentile) — extremely crowded.
Data as of Q3 2026
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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: 4%. 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 $1.64B is below the $6.21B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~4.9% on $66.37B of debt.
Cash of $1.64B fully covers short-term debt of $722.0M.
Mostly short-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.
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.
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $3.02B dividends + $0 buybacks = $3.02B returned on -$2.94B FCF.
1 consecutive years of dividend increases · 2%/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.
Ranked against 26 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEE | $172.3B | 24.9× | — | 6.7× | 9.8% | — | 26.5% | 12.5% | 4.6% | — | 1,033 |
| SO | $107.0B | 23.7× | — | 3.6× | 10.6% | — | 14.7% | 12.1% | 4.2% | — | 810 |
| CEG | $93.7B | 35.8× | 24.4× | 3.7× | 8.3% | — | 9.1% | 16.0% | 9.9% | 1.3× | 617 |
| AEP | $70.4B | 19.4× | 13.4× | 3.2× | 10.9% | — | 16.9% | 11.9% | 4.8% | 5.3× | 630 |
| D | $57.3B | 18.9× | — | 3.5× | 14.2% | — | 18.2% | 10.3% | 3.8% | — | 488 |
| ETR | $52.5B | 28.1× | 14.4× | 4.1× | 9.0% | — | 13.7% | 10.5% | 3.9% | 4.8× | 375 |
| VST | $47.3B | 64.7× | 16.8× | 2.7× | 3.0% | — | 5.3% | 18.5% | 3.9% | 4.6× | 381 |
| CNP | $28.0B | 26.4× | 13.5× | 3.0× | 8.3% | 100.0% | 11.2% | 9.4% | 3.3% | 5.8× | 208 |
| FE | $27.1B | 26.6× | 13.7× | 1.8× | 12.0% | — | 6.8% | 8.2% | 2.7% | 6.7× | 237 |
| PPL | $26.8B | 22.4× | 12.8× | 3.0× | 6.9% | — | 13.1% | 7.9% | 3.5% | 5.0× | 273 |
| ES | $25.6B | 14.9× | 10.0× | 1.9× | 13.8% | — | 12.5% | 10.5% | 3.8% | 5.2× | 328 |
| EIX | $22.9B | 5.1× | 5.9× | 1.2× | 9.8% | — | 23.1% | 25.4% | 8.0% | 3.7× | 266 |
| NRG | $20.5B | 24.3× | 9.9× | 0.7× | 9.2% | — | 2.8% | 51.4% | 4.8% | 3.6× | 245 |
| TLN | $16.5B | — | 119.7× | 6.4× | 22.0% | — | -8.5% | -20.0% | -2.8% | — | 129 |
| PNW | $12.9B | 21.1× | 11.2× | 2.4× | 4.2% | — | 11.8% | 9.0% | 3.7% | 4.9× | 174 |
| OGE | $10.2B | 21.3× | 12.8× | 3.1× | 9.2% | 61.4% | 14.4% | 9.5% | 4.4% | 4.6× | 172 |
| IDA | $8.3B | 24.3× | 18.8× | 4.8× | -1.2% | — | 18.5% | 9.1% | 4.6% | 5.3× | 126 |
| CWEN | $6.7B | — | 17.6× | 4.7× | 4.2% | 62.9% | 11.8% | 2.9% | 1.2% | 9.6× | 113 |
| TXNM | $6.5B | 39.6× | 12.7× | 3.0× | 9.9% | — | 7.8% | 5.0% | 2.0% | 5.7× | 80 |
| BKH | $6.2B | 20.5× | 13.1× | 2.7× | 8.6% | — | 12.6% | 7.6% | 3.4% | 5.5× | 103 |
| ORA | $5.7B | 45.6× | 17.7× | 5.7× | 12.5% | 27.6% | 12.5% | 4.9% | 2.4% | 5.5× | 81 |
| POR | $5.2B | 15.9× | 8.7× | 1.4× | 4.0% | — | 8.6% | 7.4% | 3.5% | 4.1× | 105 |
| AQN | $4.2B | 24.7× | 12.7× | 1.7× | 4.9% | — | 7.4% | 3.9% | 1.5% | 8.1× | 37 |
| OTTR | $3.8B | 13.8× | 9.6× | 2.9× | -2.3% | — | 21.2% | 14.8% | 9.6% | 1.4× | 76 |
| HE | $1.5B | 12.0× | 6.3× | 0.5× | -4.1% | — | 4.1% | 7.9% | 3.1% | 3.6× | 78 |
Peers = companies sharing SO's sector (Electric 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.
No trend data available for this metric.
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.
Average free cash flow across the last 1 positive fiscal year (FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $92.99 today, the market must believe free cash flow compounds 34.7%/yr for a decade (off $833.0M on the 3-yr avg basis).
Default is 8.1% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 1.15B shares (market data) · net debt $64.73B
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.
EOD close · as of 2026-10-29
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 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.55B 100.0% | $26.72B 100.0% | $25.25B 100.0% | $29.28B 100.0% | $23.11B 100.0% | $20.38B 100.0% | $21.42B 100.0% | $23.50B 100.0% | $23.03B 100.0% | $19.90B 100.0% |
| Total Operating Expenses | $22.27B 75.3% | $19.66B 73.6% | $19.43B 76.9% | $23.91B 81.7% | $19.41B 84.0% | $15.49B 76.0% | $13.68B 63.9% | $19.30B 82.2% | $20.70B 89.9% | $15.41B 77.5% |
| Operating Income | $7.29B 24.7% | $7.07B 26.4% | $5.83B 23.1% | $5.37B 18.3% | $3.70B 16.0% | $4.88B 24.0% | $7.74B 36.1% | $4.19B 17.8% | $2.33B 10.1% | $4.49B 22.5% |
| Interest Expense | $3.24B 11.0% | $2.74B 10.3% | $2.45B 9.7% | $2.02B 6.9% | $1.84B 7.9% | $1.82B 8.9% | $1.74B 8.1% | $1.84B 7.8% | $1.69B 7.4% | $1.32B 6.6% |
| Other Income (Expense), net | -$2.29B -7.7% | -$1.84B -6.9% | -$1.48B -5.9% | -$1.15B -3.9% | -$1.12B -4.9% | -$1.39B -6.8% | -$1.19B -5.6% | -$1.44B -6.1% | -$1.26B -5.5% | -$1.01B -5.1% |
| Pretax Income | $5.00B 16.9% | $5.23B 19.6% | $4.34B 17.2% | $4.22B 14.4% | $2.58B 11.1% | $3.50B 17.2% | $6.54B 30.5% | $2.75B 11.7% | $1.07B 4.6% | $3.48B 17.5% |
| Income Tax Expense | $828.0M 2.8% | $969.0M 3.6% | $496.0M 2.0% | $795.0M 2.7% | $267.0M 1.2% | $393.0M 1.9% | $1.80B 8.4% | $449.0M 1.9% | $142.0M 0.6% | $951.0M 4.8% |
| Net Income | $4.34B 14.7% | $4.40B 16.5% | $3.98B 15.7% | $3.43B 11.7% | $2.31B 10.0% | $3.10B 15.2% | $4.74B 22.1% | $2.30B 9.8% | $926.0M 4.0% | $2.53B 12.7% |
| Per Share | ||||||||||
| EPS (Basic) | $3.94 | $4.02 | $3.64 | $3.28 | $2.26 | $2.95 | $4.53 | $2.18 | $0.84 | $2.57 |
| EPS (Diluted) | $3.92 | $3.99 | $3.62 | $3.26 | $2.24 | $2.93 | $4.50 | $2.17 | $0.84 | $2.55 |
| Weighted Avg Shares (Basic) | 1.10B | 1.10B | 1.09B | 1.07B | 1.06B | 1.06B | 1.05B | 1.02B | 1.00B | 951.0M |
| Weighted Avg Shares (Diluted) | 1.11B | 1.10B | 1.10B | 1.08B | 1.07B | 1.06B | 1.05B | 1.02B | 1.01B | 958.0M |
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.
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.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-01 | Turner John M Jr Director | Grant | 914 | $83.47 | — |
| 2026-10-01 | Thomas Lizanne Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $82.73 | $8k |
| 2026-10-01 | Smith William G Jr Director | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 988 |
| $83.47 |
| — |
| 2026-10-01 | Grain David J Director | Grant | 973 | $83.47 | — |
| 2026-10-01 | Johns John D Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | Etheredge James O Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | Cooper Shantella E. Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | Akella Janaki Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | 2 co-filers Group filing | Grant | 539 | $83.47 | — |
| 2026-10-01 | Meador David E Director | Grant | 914 | $83.47 | — |
| 2026-10-01 | Svinicki Kristine L Director | Grant | 539 | $83.47 | — |
| 2026-10-01 | 2 co-filers Group filing | Grant | 262 | $83.47 | — |
| 2026-09-03 | Kim Matthew M. Comptroller | Open-market sale | 1,400 | $88.87 | $124k |
| 2026-09-03 | Sena Peter P Iii Chairman,President & CEO, SNC | 10b5-1 plan sale | 4,266 | $88.59 | $378k |
| 2026-09-01 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $88.45 | $9k |
| 2026-08-06 | Spainhour Sterling A Jr. EVP & CLO | 10b5-1 plan sale | 3,333 | $94.02 | $313k |
| 2026-08-03 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $94.28 | $9k |
| 2026-07-01 | 2 co-filers Group filing | Grant | 473 | $95.12 | — |
| 2026-07-01 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $95.77 | $10k |
| 2026-07-01 | Smith William G Jr Director | Grant | 867 | $95.12 | — |
| 2026-07-01 | Meador David E Director | Grant | 802 | $95.12 | — |
| 2026-07-01 | Grain David J Director | Grant | 854 | $95.12 | — |
| 2026-07-01 | Turner John M Jr Director | Grant | 802 | $95.12 | — |
| 2026-07-01 | Thomas Lizanne Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | Svinicki Kristine L Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | Johns John D Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | Akella Janaki Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | Etheredge James O Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | Cooper Shantella E. Director | Grant | 473 | $95.12 | — |
| 2026-07-01 | 2 co-filers Group filing | Grant | 230 | $95.12 | — |
| 2026-06-28 | 3 co-filers Chairman,President & CEO, SNC | Option exercise | 712 | $0.00 | $0 |
| 2026-06-28 | 3 co-filers Chairman,President & CEO, SNC | Tax withholding | 316 | $97.16 | $31k |
| 2026-06-28 | 3 co-filers Chairman,President & CEO, SNC | Option exercise | 667 | $0.00 | — |
| 2026-06-01 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $91.16 | $9k |
| 2026-05-24 | 3 co-filers Chairman, President & CEO | Option exercise | 7,662 | $0.00 | $0 |
| 2026-05-24 | 3 co-filers Chairman, President & CEO | Tax withholding | 3,414 | $94.55 | $323k |
| 2026-05-24 | 3 co-filers Chairman, President & CEO | Option exercise | 6,898 | $94.55 | — |
| 2026-05-01 | Kim Matthew M. Comptroller | 10b5-1 plan sale | 100 | $96.57 | $10k |
| 2026-04-01 | Svinicki Kristine L Director | Grant | 464 | $96.94 | — |
EOD close · as of 2026-10-29
Where each multiple sits in its own 14-yr range · 95th 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
ROE 12% against ROIC 4% — 8% 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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating Income | 17.8 | 36.1 | 24.0 | 16.0 | 18.3 | 23.1 | 26.4 | 24.7 |
| Income Tax | 1.9 | 8.4 | 1.9 | 1.2 | 2.7 | 2.0 | 3.6 | 2.8 |
| Net Income | 9.8 | 22.1 | 15.2 | 10.0 | 11.7 | 15.7 | 16.5 | 14.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SO: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -2.13pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 9.1% | 8.1% (today's — no rate published for this year) | 1.0pts |
| FY2020 | 5.5% | 8.1% (today's — no rate published for this year) | -2.6pts |
| FY2021 | 3.9% | 6.6% | -2.7pts |
| FY2022 | 5.4% | 7.5% | -2.1pts |
| FY2023 | 5.3% | 7.5% | -2.2pts |
| FY2024 | 6.3% | 7.6% | -1.3pts |
| FY2025 | 6.0% | 7.3% | -1.3pts |
| Now | 4.2% | 8.1% | -3.8pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | 22.5% | 12.7% |
| FY2017 | not reported | 10.1% | 4.0% |
| FY2018 | not reported | 17.8% | 9.8% |
| FY2019 | not reported | 36.1% | 22.1% |
| FY2020 | not reported | 24.0% | 15.2% |
| FY2021 | not reported | 16.0% | 10.0% |
| FY2022 | not reported | 18.3% | 11.7% |
| FY2023 | not reported | 23.1% | 15.7% |
| FY2024 | not reported | 26.4% | 16.5% |
| FY2025 | not reported | 24.7% | 14.7% |
Leverage and buybacks account for 8 points of the 12% return on equity in FY2025. The business earns 4% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$5.2B of goodwill — 5% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread was positive in only 0 of the last 5 years.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Shares outstanding are up 5% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025. Free cash flow is negative, so projected resources fall rather than accumulate.
Balance sheet at 2025-12-31. 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.
At $92.99, free cash flow must compound 34.78%/yr for 10 years. It has no positive compounding record to compare against.
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The implied rate of 34.78% has not been achieved in any of the last 1 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $4.34B | $4.34B |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $5.46B | $9.80B |
| Operating cash flow | $9.80B | $9.80B |
| Capex | −$12.74B | −$2.94B |
| Free cash flow | −$2.94B | −$2.94B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -4.9% | 8.3% | 13.2 points |
| FY2021 | 13.4% | -4.2% | -17.6 points |
| FY2022 | 26.7% | 24.7% | -2.0 points |
| FY2023 | -13.8% | -9.7% | 4.1 points |
| FY2024 | 5.8% | 8.1% | 2.3 points |
| FY2025 | 10.6% | 3.0% | -7.6 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 41.1 days | not reported | not reported | not reported |
| FY2020 | 46.8 days | not reported | not reported | not reported |
| FY2021 | 39.5 days | not reported | not reported | not reported |
| FY2022 | 38.9 days | not reported | not reported | not reported |
| FY2023 | 40.8 days | not reported | not reported | not reported |
| FY2024 | 41.6 days | not reported | not reported | not reported |
| FY2025 | 38.8 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -0.9 percent |
| FY2020 | -2.9 percent |
| FY2021 | -3.0 percent |
| FY2022 | -2.1 percent |
| FY2023 | -2.6 percent |
| FY2024 | -3.7 percent |
| FY2025 | -3.5 percent |