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Institutional accumulation: ownership increased +1.39% 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
Ranked against 768 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NVDA | $5.33T | 44.7× | 40.0× | 24.7× | 65.5% | 71.1% | 55.6% | 76.3% | 72.4% | 0.1× | 5,582 |
| AAPL | $4.59T | 41.7× | 32.0× | 11.0× | 6.4% | 46.9% | 26.9% | 152% | 73.7% | 0.5× | 5,858 |
| MSFT | $3.62T | 27.2× | 19.1× | 10.9× | 17.8% | 67.9% | 40.3% | 30.2% | 28.2% | 0.2× | 5,944 |
| AVGO | $1.98T | 87.7× | 78.0× | 31.0× | 23.9% | 67.8% | 36.2% | 28.4% | 15.8% | 2.5× | 4,442 |
| MU | $1.00T | 117.7× | 55.4× | 26.8× | 48.9% | 39.8% | 22.8% | 15.8% | 12.9% | 0.7× | 2,894 |
| AMD | $785.7B | 181.9× | 185.9× | 22.7× | 34.3% | 49.5% | 12.5% | 6.9% | 6.5% | 0.8× | 3,059 |
| ASMLF | $649.1B | 68.2× | 51.8× | 19.9× | 15.6% | 52.8% | 29.4% | 49.0% | 43.1% | 0.2× | 2 |
| INTC | $504.7B | — | 62.9× | 9.6× | -0.5% | 34.8% | -0.5% | -0.2% | -0.2% | 5.5× | 2,495 |
| CSCO | $481.1B | 47.6× | 40.2× | 8.5× | 5.3% | 64.9% | 18.0% | 21.7% | 13.6% | 2.3× | 3,560 |
| AMAT | $423.7B | 61.7× | 48.7× | 14.9× | 4.4% | 48.7% | 24.7% | 34.3% | 25.9% | 0.8× | 2,826 |
| LRCX | $390.0B | 74.1× | 62.2× | 21.2× | 23.7% | 48.7% | 29.1% | 54.3% | 39.5% | 0.6× | 2,500 |
| PLTR | $378.8B | 251.5× | 262.1× | 84.7× | 56.2% | 82.4% | 36.3% | 22.0% | 22.0% | — | 2,883 |
| RPAY | $342.2B | — | — | 1106.6× | -1.2% | 75.0% | -83.0% | -53.0% | -33.6% | -1.1× | 142 |
| DELL | $301.7B | 53.3× | 28.8× | 2.7× | 18.8% | 20.0% | 5.2% | -240% | 20.4% | 2.8× | 1,564 |
| ARM | $292.2B | 323.0× | 251.9× | 59.4× | 22.8% | 97.5% | 18.4% | 10.9% | 10.9% | — | 730 |
| TXN | $252.4B | 51.0× | 33.1× | 14.3× | 13.0% | 57.0% | 28.3% | 30.7% | 16.8% | 1.7× | 2,345 |
| ANET | $247.8B | 71.7× | 62.6× | 27.5× | 28.6% | 64.1% | 0.0% | 0.0% | 0.0% | — | 1,930 |
| UMC | $242.3B | — | — | — | — | — | — | — | — | — | 302 |
| PANW | $242.3B | 226.7× | 151.3× | 26.3× | 14.9% | 73.4% | 12.3% | 14.5% | 14.5% | — | 2,374 |
| SAPGF | $241.4B | — | — | — | — | — | — | — | — | — | 7 |
| IBM | $221.0B | 21.1× | — | 3.3× | 7.6% | 58.2% | 15.7% | 32.4% | 11.3% | — | 3,351 |
| APH | $211.2B | 51.5× | 29.5× | 9.1× | 51.7% | 36.9% | 18.5% | 31.8% | 31.8% | — | 2,017 |
| SNDK | $197.2B | — | — | 26.8× | 10.4% | 30.1% | -22.3% | -17.8% | -14.9% | -1.5× | 1,127 |
| SHOP | $187.4B | 153.4× | 124.0× | 16.2× | 30.1% | 48.1% | 10.7% | 9.1% | 9.1% | — | 1,642 |
| ADI | $184.9B | 82.8× | 57.2× | 16.8× | 16.9% | 61.5% | 20.6% | 6.7% | 5.3% | 2.6× | 2,030 |
| TLS | $341M | — | — | 2.1× | 52.2% | 37.0% | -22.2% | -38.1% | -38.1% | — | 153 |
Peers = companies sharing TLS's sector (Technology) 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.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -38%. 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 $53M covers all $7M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2012-09-30 (10-Q).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
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. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-08-05 · 15d old
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 | $164.8M 100.0% | $108.3M 100.0% | $145.4M 100.0% | $216.9M 100.0% | $242.4M 100.0% | $179.9M 100.0% | $159.2M 100.0% | $138.0M 100.0% | $107.7M 100.0% | $134.9M 100.0% |
| Cost of Revenue | $103.8M 63.0% | $73.8M 68.2% | $92.4M 63.6% | $137.8M 63.6% | $156.4M 64.5% | $117.5M 65.3% | $106.9M 67.1% | $85.0M 61.6% | $67.2M 62.3% | $91.4M 67.8% |
| Cost of Products | — | — | — | — | — | — | — | — | $17.2M 16.0% | $13.8M 10.3% |
| Cost of Services | — | — | — | — | — | — | — | — | $50.0M 46.4% | $77.6M 57.5% |
| Gross Profit | $61.0M 37.0% | $34.4M 31.8% | $52.9M 36.4% | $79.0M 36.4% | $86.0M 35.5% | $62.4M 34.7% | $52.3M 32.9% | — | — | — |
| Research & Development | $7.1M 4.3% | $8.4M 7.8% | $11.8M 8.1% | $16.9M 7.8% | $19.1M 7.9% | $14.2M 7.9% | $10.6M 6.7% | $8.8M 6.3% | — | — |
| Selling, General & Admin | $78.9M 47.9% | $75.5M 69.7% | $81.0M 55.7% | $132.9M 61.3% | $127.5M 52.6% | $62.1M 34.5% | $47.3M 29.7% | $44.0M 31.9% | $40.2M 37.3% | $41.3M 30.6% |
| Total Operating Expenses | $100.9M 61.2% | $90.3M 83.4% | $93.3M 64.1% | — | — | — | — | — | — | — |
| Operating Income | -$39.9M -24.2% | -$55.9M -51.6% | -$40.3M -27.7% | -$53.9M -24.8% | -$41.5M -17.1% | $297K 0.2% | $5.0M 3.2% | $9.0M 6.5% | $414K 0.4% | $2.1M 1.6% |
| Interest Expense | $553K 0.3% | $644K 0.6% | $786K 0.5% | $874K 0.4% | $777K 0.3% | $7.3M 4.0% | $7.5M 4.7% | $7.3M 5.3% | $6.7M 6.2% | $5.5M 4.1% |
| Other Income (Expense), net | $3.2M 2.0% | $4.0M 3.7% | $6.7M 4.6% | $1.4M 0.6% | -$921K -0.4% | -$255K -0.1% | $201K 0.1% | $12K 0.0% | $11K 0.0% | $18K 0.0% |
| Pretax Income | -$37.2M -22.6% | -$52.5M -48.5% | -$34.4M -23.7% | -$53.4M -24.6% | -$43.2M -17.8% | $6.8M 3.8% | -$2.2M -1.4% | $1.8M 1.3% | -$6.3M -5.8% | -$3.3M -2.5% |
| Income Tax Expense | -$663K -0.4% | $26K 0.0% | $36K 0.0% | $54K 0.0% | -$28K -0.0% | -$46K -0.0% | -$104K -0.1% | $31K 0.0% | -$2.8M -2.6% | $334K 0.2% |
| Net Income | -$36.5M -22.2% | -$52.5M -48.5% | -$34.4M -23.7% | -$53.4M -24.6% | -$43.1M -17.8% | $1.7M 0.9% | -$6.4M -4.0% | -$1.6M -1.2% | -$5.8M -5.4% | -$7.2M -5.3% |
| Per Share | ||||||||||
| EPS (Basic) | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 | $0.04 | $-0.17 | $-0.04 | — | — |
| EPS (Diluted) | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 | $0.04 | $-0.17 | $-0.04 | — | — |
| Weighted Avg Shares (Basic) | 72.9M | 71.8M | 69.3M | 67.6M | 66.4M | 41.6M | 37.7M | 36.8M | — | — |
| Weighted Avg Shares (Diluted) | 72.9M | 71.8M | 69.3M | 67.6M | 66.4M | 42.9M | 37.7M | 36.8M | — | — |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $4.68 today, the market must believe free cash flow compounds 7.1%/yr for a decade (off $15M normalized FCF).
The market's 7.1% is more conservative than its 9-yr track record.
2-stage DCF · 0.07B shares · net debt -$53M
mean -720.5% · volatility σ 1793% · implied rate exceeded in 2/6 yrs
Central path = implied 7.1%/yr growth; shaded band = ±1σ (1793%) 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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
6/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
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.
No dividend to cover. Last year: $0 dividends + $14M buybacks = $14M returned on $29M FCF.
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.
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 2026-08-05
No standout strengths flagged.
Where each multiple sits in its own 6-yr range · 42th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-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 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 61.6 | 67.1 | 65.3 | 64.5 | 63.6 | 63.6 | 68.2 | 63.0 |
| Gross Profit | — | 32.9 | 34.7 | 35.5 | 36.4 | 36.4 | 31.8 | 37.0 |
| R&D | 6.3 | 6.7 | 7.9 | 7.9 | 7.8 | 8.1 | 7.8 | 4.3 |
| SG&A | 31.9 | 29.7 | 34.5 | 52.6 | 61.3 | 55.7 | 69.7 | 47.9 |
| Operating Income | 6.5 | 3.2 | 0.2 | -17.1 | -24.8 | -27.7 | -51.6 | -24.2 |
| Income Tax | 0.0 | -0.1 | -0.0 | -0.0 | 0.0 | 0.0 | 0.0 | -0.4 |
| Net Income | -1.2 | -4.0 | 0.9 | -17.8 | -24.6 | -23.7 | -48.5 | -22.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TLS: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.