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Institutional distribution: ownership decreased -0.60% quarter-over-quarter.
Data as of Q1 2026
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Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
1/7 of the 9 checks — 2 couldn't be scored (see above), so the score is out of the 7 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81 · book equity (no price)
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 + $24M buybacks = $24M returned on -$52M 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 7 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -5%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 7 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.
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.”
Cash of $482M fully covers short-term debt of $5M.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
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 |
|---|---|---|---|---|---|---|---|
| Revenue | $393.1M 100.0% | $3.60B 100.0% | $4.20B 100.0% | $3.60B 100.0% | $2.96B 100.0% | $1.35B 100.0% | $670.5M 100.0% |
| Cost of Revenue | $157.5M 40.1% | $1.42B 39.4% | $1.90B 45.3% | $1.80B 49.8% | $1.41B 47.5% | $594.4M 44.0% | $358.2M 53.4% |
| Gross Profit | $235.6M 59.9% | $2.18B 60.6% | $2.30B 54.7% | $1.81B 50.2% | $1.55B 52.5% | $757.8M 56.0% | $312.3M 46.6% |
| Research & Development | $75.1M 19.1% | $732.6M 20.4% | $901.5M 21.5% | $763.4M 21.2% | $619.6M 20.9% | $329.8M 24.4% | $351.0M 52.3% |
| Selling, General & Admin | $36.0M 9.1% | $330.2M 9.2% | $418.5M 10.0% | $622.0M 17.3% | $690.3M 23.3% | $296.2M 21.9% | $253.3M 37.8% |
| Total Operating Expenses | $308.2M 78.4% | $2.66B 74.0% | $3.37B 80.2% | $3.41B 94.6% | $2.94B 99.5% | $1.36B 100.6% | $1.37B 204.4% |
| Operating Income | -$72.5M -18.5% | -$481.1M -13.4% | -$1.07B -25.5% | -$1.60B -44.5% | -$1.39B -47.0% | -$602.9M -44.6% | -$1.06B -157.9% |
| Other Income (Expense), net | $4.4M 1.1% | $42.9M 1.2% | $49.2M 1.2% | $6.0M 0.2% | -$4.4M -0.1% | $11.7M 0.9% | $2.7M 0.4% |
| Pretax Income | -$24.8M -6.3% | -$178.4M -5.0% | -$827.7M -19.7% | -$1.56B -43.4% | -$1.29B -43.7% | -$516.5M -38.2% | -$1.00B -149.8% |
| Income Tax Expense | $3.1M 0.8% | -$9.4M -0.3% | $11.8M 0.3% | $14.2M 0.4% | $5.4M 0.2% | $1.1M 0.1% | $40K 0.0% |
| Net Income | -$27.9M -7.1% | -$169.0M -4.7% | -$839.5M -20.0% | -$1.58B -43.8% | -$203.8M -6.9% | -$517.5M -38.3% | -$1.00B -149.8% |
| Per Share | |||||||
| EPS (Basic) | $-0.11 | $-0.63 | $-2.82 | $-5.19 | $-6.12 | $-18.36 | $-22.99 |
| EPS (Diluted) | $-0.11 | $-0.63 | $-2.82 | $-5.19 | $-6.12 | $-18.36 | $-22.99 |
| Weighted Avg Shares (Basic) | 240.0M | 273.6M | 299.1M | 304.8M | 240.2M | 65.3M | 62.2M |
| Weighted Avg Shares (Diluted) | 240.0M | 273.6M | 299.1M | 304.8M | 240.2M | 65.3M | 62.2M |
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.
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 3 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
No current price collected.
Nothing notable to watch.
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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | 53.4 | 44.0 | 47.5 | 49.8 | 45.3 | 39.4 | 40.1 |
| Gross Profit | 46.6 | 56.0 | 52.5 | 50.2 | 54.7 | 60.6 | 59.9 |
| R&D | 52.3 | 24.4 | 20.9 | 21.2 | 21.5 | 20.4 | 19.1 |
| SG&A | 37.8 | 21.9 | 23.3 | 17.3 | 10.0 | 9.2 | 9.1 |
| Operating Income | -157.9 | -44.6 | -47.0 | -44.5 | -25.5 | -13.4 | -18.5 |
| Income Tax | 0.0 | 0.1 | 0.2 | 0.4 | 0.3 | -0.3 | 0.8 |
| Net Income | -149.8 | -38.3 | -6.9 | -43.8 | -20.0 | -4.7 | -7.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ZHIHF: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.