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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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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 -$15.0M 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.
EOD close · as of 2026-10-21
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 |
|---|---|---|---|---|---|---|
| Revenue | $58.8M 100.0% | $59.5M 100.0% | $70.4M 100.0% | $90.0M 100.0% | $97.3M 100.0% | $20.1M 100.0% |
| Selling, General & Admin | $12.5M 21.3% | $17.3M 29.0% | $26.2M 37.2% | $35.2M 39.2% | $24.0M 24.6% | $5.6M 27.7% |
| Operating Income | -$3.8M -6.5% | -$11.4M -19.2% | -$16.9M -24.0% | -$233.2M -259.1% | $32.8M 33.7% | -$2.6M -13.1% |
| Interest Expense | $4.0M 6.9% | $7.1M 11.9% | $12.7M 18.0% | $21.6M 24.0% | $3.7M 3.8% | $600K 3.0% |
| Other Income (Expense), net | $8.6M 14.6% | -$8.4M -14.1% | -$12.1M -17.3% | -$21.6M -24.0% | -$3.3M -3.4% | -$659K -3.3% |
| Pretax Income | $4.8M 8.2% | -$19.9M -33.3% | -$29.0M -41.3% | -$254.7M -283.1% | $29.5M 30.3% | -$3.3M -16.4% |
| Income Tax Expense | -$479K -0.8% | -$69K -0.1% | $0 0.0% | $15.0M 16.7% | $7.9M 8.1% | $0 0.0% |
| Net Income | $5.3M 9.0% | -$19.8M -33.2% | -$29.5M -41.9% | -$271.1M -301.3% | -$44.5M -45.7% | -$3.3M -16.4% |
| Per Share | ||||||
| EPS (Basic) | $0.35 | -$1.88 | -$4.43 | -$63.97 | -$1.41 | — |
| EPS (Diluted) | $0.34 | -$1.88 | -$4.43 | -$63.97 | -$1.23 | — |
| Weighted Avg Shares (Basic) | 15.2M | 10.5M | 6.7M | 4.2M | 32.0M | — |
| Weighted Avg Shares (Diluted) | 15.3M | 10.5M | 6.7M | 4.2M | 36.6M | — |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $19.6M is below the $33.1M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~9.4% on $43.1M 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.
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 2026-10-21
Where each multiple sits in its own 6-yr range · 20th 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
ROE -11% against ROIC -164% — 153% 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 52.6× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| SG&A | 27.7 | 24.6 | 39.2 | 37.2 | 29.0 | 21.3 |
| Operating Income | -13.1 | 33.7 | -259.1 | -24.0 | -19.2 | -6.5 |
| Income Tax | 0.0 | 8.1 | 16.7 | 0.0 | -0.1 | -0.8 |
| Net Income | -16.4 | -45.7 | -301.3 | -41.9 | -33.2 | 9.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VIP: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.