Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsOperating margin changed -5.3 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -5.3 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- 3 filing risk checks flagged
Flagged areas: Earnings quality, Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +20.9% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $70M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Earnings quality
- Solvency & liquidity
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Regeneration And Treatment Services$361M49.9%+1.1% yoy
- Industrial Mining Automotive$328M45.3%+58.5% yoy
- Other Services$34.3M4.7%+1.0% yoy
Members sum to the consolidated $724M for this period.
- Industrial Mining Automotive$113M52.6%+102.2% yoy
- Regeneration And Treatment Services$93.8M43.6%+18.4% yoy
- Other Services$8.19M3.8%+2.6% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 797 in Materials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $724M | 50thof 3,301 middle third | 66thof 522 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 20.9% | 79thof 3,135 top third | 69thof 473 top third |
Gross margin gross profit ÷ revenue | 21.9% | 23rdof 1,603 bottom third | 30thof 221 bottom third |
Operating margin operating income ÷ revenue | 9.0% | 66thof 2,819 middle third | 75thof 483 top third |
Net margin net income ÷ revenue | -9.8% | 30thof 3,263 bottom third | 53rdof 518 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 9.7% | 66thof 2,679 middle third | 76thof 433 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -11.8% | 33rdof 3,577 bottom third | 66thof 701 middle third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 1.4% | 60thof 2,895 middle third | 72ndof 476 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 43 days | 58thof 2,398 middle third | 61stof 387 middle third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 1.4× | 59thof 1,547 middle third | 65thof 145 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -13.8% | 82ndof 3,577 top third | 74thof 673 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -56.6% | 91stof 3,059 top third | 81stof 593 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 71 changed periods, 30 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | -$163M 10-K 2021-03-17 | $51.6M 10-K 2023-02-28 | +131.7% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-12-31 | -$246M 10-K 2021-03-17 | $11M 10-K 2022-03-01 | +104.5% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-06-30 | $41.2M 10-Q 2020-08-03 | $9.85M 10-K 2022-03-01 | -76.1% | first · latest · 4 filings carry it |
| Intangibles IntangibleAssetsNetExcludingGoodwill | balance at 2020-12-31 | $526M 10-K 2021-03-17 | $137M 10-K 2022-03-01 | -73.9% | first · latest · 5 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-06-30 | $360M 10-Q 2020-08-03 | $116M 10-K 2022-03-01 | -67.8% | first · latest · 4 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-09-30 | $380M 10-Q 2020-11-03 | $131M 10-K 2022-03-01 | -65.6% | first · latest · 4 filings carry it |
| Receivables AccountsReceivableNetCurrent | balance at 2020-12-31 | $133M 10-K 2021-03-17 | $45.9M 10-K 2022-03-01 | -65.4% | first · latest · 5 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-03-31 | $362M 10-Q 2020-05-11 | $126M 10-K 2022-03-01 | -65.3% | first · latest · 4 filings carry it |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2020-03-31 | $28.1M 10-Q 2020-05-11 | $10M 10-Q 2021-05-17 | -64.4% | first · latest |
| Gross profit GrossProfit | quarter 2020-06-30 | $92.8M 10-Q 2020-08-03 | $34.9M 10-K 2022-03-01 | -62.4% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-09-30 | $47M 10-Q 2020-11-03 | $18.8M 10-K 2022-03-01 | -60.1% | first · latest · 4 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-03-31 | $45.7M 10-Q 2020-05-11 | $18.7M 10-Q 2021-05-17 | -59.1% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-09-30 | $45.8M 10-Q 2020-11-03 | $19.1M 10-Q 2021-11-09 | -58.3% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2020-06-30 | $44.8M 10-Q 2020-08-03 | $18.7M 10-Q 2021-08-09 | -58.2% | first · latest |
| Gross profit GrossProfit | quarter 2020-09-30 | $96.5M 10-Q 2020-11-03 | $40.8M 10-K 2022-03-01 | -57.7% | first · latest · 4 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-06-30 | $88.6M 10-Q 2020-08-03 | $37.5M 10-Q 2021-08-09 | -57.6% | first · latest |
| Gross profit GrossProfit | quarter 2020-03-31 | $88.6M 10-Q 2020-05-11 | $37.7M 10-K 2022-03-01 | -57.4% | first · latest · 4 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2020-12-31 | $282M 10-K 2021-03-17 | $124M 10-K 2022-03-01 | -55.9% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | fiscal year 2020-12-31 | $1.11B 10-K 2021-03-17 | $496M 10-K 2023-02-28 | -55.2% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | fiscal year 2020-12-31 | $152M 10-K 2021-03-17 | $76.9M 10-K 2023-02-28 | -49.3% | first · latest · 3 filings carry it |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-03-31 | $108M 10-Q 2020-05-11 | $54.7M 10-Q 2021-05-17 | -49.2% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-03-31 | $23.4M 10-Q 2020-05-11 | $12M 10-K 2022-03-01 | -48.7% | first · latest · 4 filings carry it |
| Goodwill Goodwill | balance at 2020-12-31 | $718M 10-K 2021-03-17 | $392M 10-K 2023-02-28 | -45.4% | first · latest · 6 filings carry it |
| Gross profit GrossProfit | fiscal year 2020-12-31 | $273M 10-K 2021-03-17 | $151M 10-K 2023-02-28 | -44.8% | first · latest · 3 filings carry it |
| Gross profit GrossProfit | quarter 2020-12-31 | $67.2M 10-K 2021-03-17 | $37.5M 10-K 2022-03-01 | -44.1% | first · latest |
| Interest expense InterestExpense | quarter 2020-09-30 | $18.6M 10-Q 2020-11-03 | $10.4M 10-Q 2021-11-09 | -44.0% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | fiscal year 2020-12-31 | $97.1M 10-K 2021-03-17 | $54.8M 10-K 2023-02-28 | -43.5% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | quarter 2020-03-31 | $24.5M 10-Q 2020-05-11 | $15.3M 10-Q 2021-05-17 | -37.4% | first · latest |
| Interest expense InterestExpense | quarter 2020-06-30 | $22.3M 10-Q 2020-08-03 | $15.1M 10-Q 2021-08-09 | -32.0% | first · latest |
| Receivables AccountsReceivableNetCurrent | balance at 2024-12-31 | $77.9M 10-K 2025-02-28 | $53.2M 10-K 2026-02-27 | -31.7% | first · latest · 5 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for ECVT yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.