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Institutional ownership roughly stable: +0.00% change quarter-over-quarter.
Data as of Q1 2026
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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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.58B 100.0% | $1.69B 100.0% | $1.75B 100.0% | $1.58B 100.0% | $642.9M 100.0% | $298.4M 100.0% | $94.3M 100.0% | $0 |
| Cost of Revenue | $676.6M 42.8% | $715.0M 42.4% | $748.5M 42.7% | $650.6M 41.2% | $248.7M 38.7% | $113.2M 37.9% | $42.0M 44.5% | — |
| Selling, General & Admin | $39.1M 2.5% | $47.0M 2.8% | $45.1M 2.6% | $44.7M 2.8% | $25.4M 4.0% | $8.6M 2.9% | $4.5M 4.8% | $1.7M |
| Total Operating Expenses | $1.51B 95.7% | $1.76B 104.3% | $1.95B 111.0% | $1.81B 114.8% | $871.0M 135.5% | $312.2M 104.6% | $101.2M 107.3% | $1.7M |
| Operating Income | $965.5M 61.1% | $1.06B 62.5% | $1.12B 63.7% | $1.04B 65.9% | $438.8M 68.3% | $191.0M 64.0% | $62.7M 66.5% | — |
| Interest Expense | $636.1M 40.2% | $641.4M 38.0% | $583.5M 33.3% | $428.9M 27.2% | $134.1M 20.9% | $80.8M 27.1% | $25.3M 26.8% | — |
| Other Income (Expense), net | -$800.8M -50.7% | -$652.0M -38.6% | -$482.2M -27.5% | $168.4M 10.7% | -$76.4M -11.9% | -$84.5M -28.3% | -$14.1M -14.9% | $52K |
| Income Tax Expense | -$3.2M -0.2% | -$10.1M -0.6% | -$5.0M -0.3% | -$2.1M -0.1% | $700K 0.1% | $1.2M 0.4% | $100K 0.1% | $0 |
| Net Income | -$691.6M -43.7% | -$684.9M -40.6% | -$649.7M -37.0% | -$65.7M -4.2% | -$302.3M -47.0% | -$96.3M -32.3% | -$20.8M -22.1% | -$1.7M |
| Per Share | ||||||||
| EPS (Basic) | $-1.74 | $-1.68 | $-1.39 | $-0.14 | $-1.49 | $-1.35 | — | — |
| EPS (Diluted) | $-1.74 | $-1.68 | $-1.39 | $-0.14 | $-1.49 | $-1.35 | — | — |
| Weighted Avg Shares (Basic) | 397.6M | 408.2M | 467.3M | 469.9M | 203.3M | 71.5M | — | — |
| Weighted Avg Shares (Diluted) | 397.6M | 408.2M | 467.3M | 469.9M | 203.3M | 71.5M | — | — |
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.
4/8 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.
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.
The dividend takes 99% of free cash flow — sustainable but with limited headroom. Last year: $342M dividends + $473M buybacks = $815M returned on $344M FCF.
1 consecutive years of dividend increases · 28%/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 8 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: -4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 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 $201M is below the $3.1B due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-03-31 (10-Q).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~5.3% on $12.0B of debt.
Cash vs short-term debt unavailable.
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.
No current price collected.
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
High operating leverage: profit moved 1.3× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | 44.5 | 37.9 | 38.7 | 41.2 | 42.7 | 42.4 | 42.8 |
| SG&A | — | 4.8 | 2.9 | 4.0 | 2.8 | 2.6 | 2.8 | 2.5 |
| Operating Income | — | 66.5 | 64.0 | 68.3 | 65.9 | 63.7 | 62.5 | 61.1 |
| Income Tax | — | 0.1 | 0.4 | 0.1 | -0.1 | -0.3 | -0.6 | -0.2 |
| Net Income | — | -22.1 | -32.3 | -47.0 | -4.2 | -37.0 | -40.6 | -43.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SWDR: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
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 2 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