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Insufficient data to determine institutional momentum.
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 | — | — | $893.2M 100.0% | $1.95B 100.0% | $3.18B 100.0% | $1.36B 100.0% | $1.19B 100.0% | $855.4M 100.0% |
| Cost of Revenue | — | — | $731.3M 81.9% | $1.70B 87.4% | $2.98B 93.7% | $1.29B 94.7% | $1.13B 95.1% | $794.6M 92.9% |
| Gross Profit | — | — | $161.9M 18.1% | $244.8M 12.6% | $202.1M 6.3% | $71.5M 5.3% | $57.9M 4.9% | $60.8M 7.1% |
| Selling, General & Admin | — | — | $0 0.0% | $566.4M 29.1% | $547.8M 17.2% | $245.5M 18.1% | $185.0M 15.5% | $133.8M 15.6% |
| Operating Income | — | — | $0 0.0% | -$571.8M -29.3% | -$358.6M -11.3% | -$178.6M -13.2% | -$133.1M -11.2% | -$79.9M -9.3% |
| Interest Expense | $2.8M | $5.8M | $45.4M 5.1% | $40.7M 2.1% | $21.9M 0.7% | $9.7M 0.7% | $14.6M 1.2% | $8.5M 1.0% |
| Interest & Investment Income | — | — | $21.2M 2.4% | $19.4M 1.0% | $10.3M 0.3% | $5.9M 0.4% | $5.6M 0.5% | $3.1M 0.4% |
| Other Income (Expense), net | — | — | -$108.3M -12.1% | -$43.2M -2.2% | $65K 0.0% | $114K 0.0% | $96K 0.0% | $495K 0.1% |
| Pretax Income | -$53.8M | -$137.4M | -$84.5M -9.5% | $100.9M 5.2% | -$370.2M -11.6% | -$202.7M -14.9% | -$142.8M -12.0% | -$84.9M -9.9% |
| Income Tax Expense | $294K | $856K | $642K 0.1% | -$19.7M -1.0% | $754K 0.0% | $84K 0.0% | $168K 0.0% | $229K 0.0% |
| Net Income | -$53.0M | -$165.1M | -$364.6M -40.8% | -$450.5M -23.1% | -$370.9M -11.6% | -$202.8M -14.9% | -$143.0M -12.0% | -$85.2M -10.0% |
| Per Share | ||||||||
| EPS (Basic) | $-10.24 | $-91.07 | $-209.17 | $-261.31 | $-2.72 | $-2.76 | — | — |
| EPS (Diluted) | $-10.24 | $-91.07 | $-209.17 | $-261.31 | $-2.72 | $-2.76 | — | — |
| Weighted Avg Shares (Basic) | 5.2M | 1.8M | 1.7M | 1.7M | 136.4M | 73.3M | — | — |
| Weighted Avg Shares (Diluted) | 5.2M | 1.8M | 1.7M | 1.7M | 136.4M | 73.3M | — | — |
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.
3/6 of the 9 checks — 3 couldn't be scored (see above), so the score is out of the 6 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).
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 $68M 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 8 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Insufficient data. Current ROIC on all capital: -10%. 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 $10M is below the $198M 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).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~0.7% on $423M 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.
Loading top holders...
No trend data available for this metric.
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.
No current price collected.
No standout strengths flagged.
Nothing notable to watch.
Where each multiple sits in its own 6-yr range
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
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 92.9 | 95.1 | 94.7 | 93.7 | 87.4 | 81.9 | — | — |
| Gross Profit | 7.1 | 4.9 | 5.3 | 6.3 | 12.6 | 18.1 | — | — |
| SG&A | 15.6 | 15.5 | 18.1 | 17.2 | 29.1 | 0.0 | — | — |
| Operating Income | -9.3 | -11.2 | -13.2 | -11.3 | -29.3 | 0.0 | — | — |
| Income Tax | 0.0 | 0.0 | 0.0 | 0.0 | -1.0 | 0.1 | — | — |
| Net Income | -10.0 | -12.0 | -14.9 | -11.6 | -23.1 | -40.8 | — | — |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VRM: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.