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 -7.2 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 -7.2 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.
- 1 filing risk check flagged
Flagged areas: Solvency & liquidity.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue was broadly stable
Latest reported annual revenue changed +0.0% 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 $219M.
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
- 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- United States$1.83B100.0%+2.0% yoy
- Canada$00.0%-100.0% yoy
Members sum to the consolidated $1.83B for this period.
- Management Service$600K100.0%0.0% 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 · 907 in Financials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $1.8B | 65thof 3,301 middle third | 74thof 541 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 0.0% | 29thof 3,135 bottom third | 25thof 518 bottom third |
Operating margin operating income ÷ revenue | 16.0% | 79thof 2,819 top third | 55thof 234 middle third |
Net margin net income ÷ revenue | 8.0% | 66thof 3,263 middle third | 39thof 534 middle third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 11.9% | 70thof 2,679 top third | 38thof 307 middle third |
Return on equity net income ÷ stockholders' equity (positive equity only) | 20.7% | 87thof 3,577 top third | 89thof 774 top third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 1.6% | 55thof 2,895 middle third | 67thof 422 top third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 73 days | 24thof 2,398 bottom third | 26thof 104 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | 8.1× | 14thof 1,547 bottom third | 19thof 296 bottom third |
Cash conversion operating cash flow ÷ net income (net income > 0) | 2.1× | 69thof 2,183 top third | 81stof 673 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -3.0% | 39thof 3,577 middle third | 70thof 804 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -0.1% | 60thof 3,059 middle third | 70thof 734 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 · 31 changed periods, 30 largest shown| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Depreciation and amortization DepreciationAndAmortization | quarter 2020-03-31 | $47.3M 10-Q 2020-05-08 | $36M 10-Q 2021-05-05 | -23.9% | first · latest |
| Depreciation and amortization DepreciationAndAmortization | quarter 2020-09-30 | $45.4M 10-Q 2020-11-05 | $36.3M 10-Q 2021-11-05 | -20.0% | first · latest |
| Net income NetIncomeLoss | quarter 2023-03-31 | -$28.9M 10-Q 2023-05-08 | -$23.7M 10-K 2025-02-28 | +18.0% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationAndAmortization | quarter 2020-06-30 | $42.9M 10-Q 2020-08-06 | $36.6M 10-Q 2021-08-06 | -14.7% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2024-03-31 | $524M 10-Q 2024-05-03 | $491M 10-Q 2025-08-06 | -6.3% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2024-06-30 | $665M 10-Q 2024-08-07 | $629M 10-Q 2025-11-07 | -5.4% | first · latest · 4 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-12-31 | $607M 10-K 2024-02-22 | $577M 10-K 2026-02-26 | -4.9% | first · latest · 9 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2023-09-30 | $590M 10-Q 2023-11-03 | $564M 10-Q 2024-11-12 | -4.4% | first · latest |
| Stockholders' equity StockholdersEquity | balance at 2023-06-30 | $620M 10-Q 2023-08-07 | $594M 10-Q 2024-11-12 | -4.2% | first · latest · 4 filings carry it |
| Net income NetIncomeLoss | fiscal year 2022-12-31 | $148M 10-K 2023-02-23 | $143M 10-K 2025-02-28 | -3.5% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-09-30 | 165,200,000 shares 10-Q 2023-11-03 | 161,000,000 shares 10-K 2025-02-28 | -2.5% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2022-12-31 | $1.23B 10-K 2023-02-23 | $1.2B 10-K 2026-02-26 | -2.5% | first · latest · 10 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-06-30 | 165,000,000 shares 10-Q 2023-08-07 | 161,000,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-03-31 | 165,400,000 shares 10-Q 2024-05-03 | 161,400,000 shares 10-Q 2025-05-09 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2022-12-31 | 161,100,000 shares 10-K 2023-02-23 | 157,200,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-06-30 | 165,000,000 shares 10-Q 2023-08-07 | 161,000,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-09-30 | 165,000,000 shares 10-Q 2023-11-03 | 161,000,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-03-31 | 165,400,000 shares 10-Q 2024-05-03 | 161,400,000 shares 10-Q 2025-05-09 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2022-12-31 | 161,800,000 shares 10-K 2023-02-23 | 157,900,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-06-30 | 165,900,000 shares 10-Q 2024-08-07 | 161,900,000 shares 10-Q 2025-08-06 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2024-09-30 | 166,000,000 shares 10-Q 2024-11-12 | 162,000,000 shares 10-Q 2025-11-07 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-09-30 | 167,200,000 shares 10-Q 2024-11-12 | 163,200,000 shares 10-Q 2025-11-07 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2023-03-31 | 164,500,000 shares 10-Q 2023-05-08 | 160,600,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | fiscal year 2023-12-31 | 164,900,000 shares 10-K 2024-02-22 | 161,000,000 shares 10-K 2026-02-26 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | quarter 2023-03-31 | 164,500,000 shares 10-Q 2023-05-08 | 160,600,000 shares 10-K 2025-02-28 | -2.4% | first · latest · 3 filings carry it |
| Basic shares WeightedAverageNumberOfSharesOutstandingBasic | fiscal year 2023-12-31 | 164,900,000 shares 10-K 2024-02-22 | 161,000,000 shares 10-K 2026-02-26 | -2.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-06-30 | 174,500,000 shares 10-Q 2024-08-07 | 170,500,000 shares 10-Q 2025-08-06 | -2.3% | first · latest · 3 filings carry it |
| Stockholders' equity StockholdersEquity | balance at 2021-12-31 | $994M 10-K 2022-02-24 | $972M 10-K 2025-02-28 | -2.2% | first · latest · 10 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2023-12-31 | -$258M 10-K 2024-02-22 | -$253M 10-K 2026-02-26 | +2.0% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2022-12-31 | $288M 10-K 2023-02-23 | $283M 10-K 2025-02-28 | -1.8% | first · latest · 3 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 OUT 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.