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Insufficient data to determine institutional momentum.
Data as of Q3 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.
Ranked against 1 sector peer 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DINO | $19.7B | 37.3× | 11.7× | 0.7× | -6.0% | — | 2.2% | 6.3% | 4.8% | 1.0× | 209 |
| SOBO | $7.5B | 17.4× | 7.1× | 3.8× | -6.3% | 84.2% | 21.8% | 16.0% | 16.0% | -0.6× | 64 |
Peers = companies sharing SOBO's sector (Pipe Lines (No Natural Gas)) 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.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 58% of free cash flow, leaving room to grow it and fund buybacks. Last year: $416.0M dividends + $0 buybacks = $416.0M returned on $717.0M FCF.
1 consecutive years of dividend increases.
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 3 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 3 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
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 |
|---|---|---|---|
| Revenue | $1.99B 100.0% | $2.12B 100.0% | $2.00B 100.0% |
| Cost of Revenue | $313.0M 15.8% | $376.0M 17.7% | $351.0M 17.5% |
| Total Operating Expenses | $1.27B 64.0% | $1.38B 64.9% | $1.30B 65.1% |
| Operating Income | — | $1.09B 51.5% | $1.07B 53.6% |
| Interest Expense | $331.0M 16.7% | $388.0M 18.3% | $220.0M 11.0% |
| Interest & Investment Income | $40.0M 2.0% | $41.0M 1.9% | $34.0M 1.7% |
| Other Income (Expense), net | $41.0M 2.1% | $12.0M 0.6% | $32.0M 1.6% |
| Pretax Income | $497.0M 25.0% | $418.0M 19.7% | $562.0M 28.0% |
| Income Tax Expense | $64.0M 3.2% | $102.0M 4.8% | $120.0M 6.0% |
| Net Income | $433.0M 21.8% | $316.0M 14.9% | $442.0M 22.0% |
| Per Share | |||
| EPS (Basic) | $2.08 | $1.52 | $2.13 |
| EPS (Diluted) | $2.07 | $1.52 | $2.13 |
| Weighted Avg Shares (Basic) | 208.2M | 207.6M | 207.6M |
| Weighted Avg Shares (Diluted) | 208.8M | 208.2M | 207.6M |
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.
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).
Coverage is adequate but not comfortable.
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.
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 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $35.96 today, the market must believe free cash flow compounds 1.6%/yr for a decade (off $612.3M on the 3-yr avg basis).
The market's 1.6% is more optimistic than its 2-yr track record.
Default is 11.0% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.21B shares (market data) · net debt -$549.0M
mean 18.9% · volatility σ 93% · implied rate exceeded in 1/2 yrs
Central path = implied 1.6%/yr growth; shaded band = ±1σ (93%) 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.
EOD close · as of 2026-10-30
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 16% against ROIC 16% — 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 5.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Cost of Revenue | 17.5 | 17.7 | 15.8 |
| Operating Income | 53.6 | 51.5 | — |
| Income Tax | 6.0 | 4.8 | 3.2 |
| Net Income | 22.0 | 14.9 | 21.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SOBO: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
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.
Earns 15.25pts above its cost of capital, but margins are compressing.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2023 | 32.9% | 14.0% | 18.9pts |
| FY2024 | 38.5% | 13.5% | 25.0pts |
| FY2025 | 26.2% | 11.3% | 15.0pts |
| Now | 16.0% | 11.0% | 5.0pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2023 | 82.5% | 53.6% | 22.0% |
| FY2024 | 82.3% | 51.5% | 14.9% |
| FY2025 | 84.2% | 36.6% | 21.8% |
Return on equity (16%) and return on invested capital (16%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
Margins have compressed 2 years running even as the spread stayed positive.
Converts 1.51x of reported profit into free cash flow over 3 years, with accruals negative.
Capex has been below depreciation for 3 consecutive years (0.26x on average over the last 3). Spending less than the asset base is consuming flatters free cash flow now and defers the cost — though depreciation also covers amortisation of acquired intangibles, which capex is not meant to replace.
Missing from our data, so excluded from this answer: share_based_compensation.
Stressed coverage of 1.5x sits between comfortable and thin.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 2.19x |
| 5% | 2.08x |
| 10% | 1.97x |
| 15% | 1.86x |
| 20% | 1.75x |
| 25% | 1.65x |
| 30% | 1.54x |
| 35% | 1.43x |
| 40% | 1.32x |
| 45% | 1.21x |
| 50% | 1.10x |
| 55% | 0.99x |
| 60% | 0.88x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $26,000,000 of the $26,000,000 total — a fixed obligation that does not appear in a headline debt figure.
At $35.96, free cash flow must compound 1.67%/yr for 10 years. It has done -1.03%/yr over 2 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2024 | −47.0% | 1.7% |
| FY2025 | 84.8% | 1.7% |
The implied rate has been matched or beaten in 1 of the last 2 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $433M | $433M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $284M | $717M |
| Operating cash flow | $717M | $717M |
| Capex | $0 | $717M |
| Free cash flow | $717M | $717M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2024 | 5.7% | -11.5% | -17.2 points |
| FY2025 | -6.3% | -7.0% | -0.6 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2023 | 244.7 days | 166.4 days | 1278 days | -867 days |
| FY2024 | 204.9 days | 200.9 days | 1030.9 days | -625.1 days |
| FY2025 | 203.5 days | 116.6 days | 879.3 days | -559.2 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2023 | -2.8 percent |
| FY2024 | -1.9 percent |
| FY2025 | -2.5 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 3 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.