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Held by 266 of 5,944 reporting institutions (94th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $376.6M 100.0% | $313.0M 100.0% | $245.1M 100.0% | $203.6M 100.0% | $132.3M 100.0% | $90.1M 100.0% | $54.4M 100.0% | $25.4M 100.0% | $10.8M 100.0% |
| Cost of Revenue | $185.6M 49.3% | $179.6M 57.4% | $155.4M 63.4% | $119.3M 58.6% | $80.6M 60.9% | $61.4M 68.2% | $47.4M 87.2% | $32.2M 126.6% | $24.0M 223.1% |
| Research & Development | $80.3M 21.3% | $90.9M 29.0% | $106.9M 43.6% | $120.3M 59.1% | $69.1M 52.2% | $43.0M 47.7% | $35.7M 65.6% | $20.3M 80.0% | $19.2M 178.0% |
| Selling, General & Admin | $247.0M 65.6% | $218.4M 69.8% | $189.7M 77.4% | $212.9M 104.6% | $135.9M 102.7% | $103.3M 114.6% | $80.1M 147.3% | $43.5M 170.9% | $26.1M 242.0% |
| Total Operating Expenses | $512.8M 136.2% | $533.8M 170.6% | $462.3M 188.6% | $438.3M 215.3% | $285.1M 215.4% | $230.2M 255.5% | $163.2M 300.1% | $96.0M 377.5% | $69.2M 643.2% |
| Operating Income | -$136.3M -36.2% | -$220.8M -70.6% | -$217.2M -88.6% | -$234.8M -115.3% | -$152.7M -115.4% | -$140.1M -155.5% | -$108.8M -200.1% | -$70.6M -277.5% | -$58.5M -543.2% |
| Interest Expense | — | $29K 0.0% | $5K 0.0% | $80K 0.0% | $367K 0.3% | $787K 0.9% | $1.3M 2.4% | $1.3M 5.2% | $905K 8.4% |
| Interest & Investment Income | $11.4M 3.0% | $15.3M 4.9% | $14.4M 5.9% | $3.1M 1.5% | $435K 0.3% | $1.5M 1.7% | $3.0M 5.6% | $999K 3.9% | $412K 3.8% |
| Other Income (Expense), net | -$903K -0.2% | -$2.7M -0.9% | -$672K -0.3% | -$1.1M -0.5% | -$1.4M -1.0% | -$182K -0.2% | -$265K -0.5% | -$121K -0.5% | -$55K -0.5% |
| Pretax Income | -$77.0M -20.4% | -$208.2M -66.5% | -$203.5M -83.0% | -$228.3M -112.1% | -$154.0M -116.4% | -$139.5M -154.9% | -$107.4M -197.4% | -$71.0M -279.2% | -$59.0M -548.2% |
| Income Tax Expense | $719K 0.2% | $560K 0.2% | $1.2M 0.5% | -$10.4M -5.1% | -$1.9M -1.5% | $382K 0.4% | $292K 0.5% | $242K 1.0% | $280K 2.6% |
| Net Income | -$77.7M -20.6% | -$208.7M -66.7% | -$204.6M -83.5% | -$217.9M -107.0% | -$152.1M -114.9% | -$139.9M -155.3% | -$107.7M -198.0% | -$71.2M -280.2% | -$59.3M -550.8% |
| Per Share | |||||||||
| EPS (Basic) | $-1.30 | $-3.60 | $-3.60 | $-4.04 | $-3.15 | $-3.57 | — | — | — |
| EPS (Diluted) | $-1.30 | $-3.60 | $-3.60 | $-4.04 | $-3.15 | $-3.57 | — | — | — |
| Weighted Avg Shares (Basic) | 59.8M | 58.0M | 56.9M | 53.9M | 48.3M | 39.2M | — | — | — |
| Weighted Avg Shares (Diluted) | 59.8M | 58.0M | 56.9M | 53.9M | 48.3M | 39.2M | — | — | — |
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.
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).
Coverage data unavailable.
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 + $0 buybacks = $0 returned on -$76M 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.
How management deployed cash over 9 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -16%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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 $183M covers all $8M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2019-09-30 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Interest last disclosed in FY2024 (no longer broken out).
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.
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
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
Nothing notable to watch.
Where each multiple sits in its own 7-yr range · 86th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-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 | 126.6 | 87.2 | 68.2 | 60.9 | 58.6 | 63.4 | 57.4 | 49.3 |
| R&D | 80.0 | 65.6 | 47.7 | 52.2 | 59.1 | 43.6 | 29.0 | 21.3 |
| SG&A | 170.9 | 147.3 | 114.6 | 102.7 | 104.6 | 77.4 | 69.8 | 65.6 |
| Operating Income | -277.5 | -200.1 | -155.5 | -115.4 | -115.3 | -88.6 | -70.6 | -36.2 |
| Income Tax | 1.0 | 0.5 | 0.4 | -1.5 | -5.1 | 0.5 | 0.2 | 0.2 |
| Net Income | -280.2 | -198.0 | -155.3 | -114.9 | -107.0 | -83.5 | -66.7 | -20.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TWST: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
Ranked against 1111 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | $1.05T | 51.0× | — | 16.1× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $679.0B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $620.1B | 23.4× | — | 6.6× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $435.4B | 104.3× | 31.4× | 7.1× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| UNH | $374.0B | 31.2× | 21.4× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| BDRX | $359.1B | — | — | — | — | — | — | — | — | — | 7 |
| MRK | $321.1B | 17.6× | — | 4.9× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| NVSEF | $289.9B | — | — | — | — | — | — | — | — | — | 2 |
| AZN | $250.4B | — | — | — | — | — | — | — | — | — | 1,248 |
| AMGN | $219.7B | 28.7× | 18.3× | 6.0× | 10.0% | 67.2% | 21.0% | 89.1% | 13.1% | 3.5× | 3,014 |
| TMO | $217.8B | 32.6× | 28.5× | 4.9× | 3.9% | — | 15.1% | 12.6% | 7.0% | 4.9× | 2,481 |
| ABT | $183.9B | 28.4× | 19.5× | 4.2× | 5.7% | 56.4% | 14.7% | 12.5% | 10.5% | 1.0× | 2,964 |
| GILD | $163.5B | 19.4× | 18.1× | 5.5× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| PFE | $146.7B | 19.0× | — | 2.3× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $141.1B | 39.5× | 29.3× | 5.7× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $133.2B | 47.7× | 36.6× | 13.2× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| SYK | $128.8B | 40.1× | 21.8× | 5.1× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| CVS | $126.0B | 71.3× | 12.7× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| VRTX | $123.1B | 31.6× | 26.9× | 10.3× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| MDT | $110.1B | 23.1× | 11.7× | 3.0× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| GLAXF | $106.9B | — | — | — | — | — | — | — | — | — | 5 |
| MCK | $102.7B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| SNYNF | $101.3B | — | — | — | — | — | — | — | — | — | 5 |
| HCA | $92.0B | 14.5× | — | 1.2× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $86.4B | 15.5× | 14.8× | 0.4× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| TWST | $7.0B | — | — | 18.5× | 20.3% | 50.7% | -20.6% | -16.4% | -16.4% | — | 266 |
Peers = companies sharing TWST's sector (Healthcare) 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.