A company still losing money with shrinking sales. Institutions are adding.
Going well
Pays a 10.8% dividend yield
Watch out for
Sales down 11% in the latest quarter vs a year ago
Losing money, losses are large next to sales
2 offering filings in 6 months (may sell new shares)
Money moves
No insider buying or selling in the last 30 days
Institutions added 14% to their holdings in the quarter ending June 2026 (333 bought, 261 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$43.35+0.8% that day
Company value
$7.5B
Share price times all shares
Price vs sales
2.7x
No profit over the last year, so this compares value with sales instead
Dividend yield
10.8%
Yearly dividend as a share of today's price
Cash vs value
7%
Cash as a share of company value
Debt vs value
164%
Owes more than the whole company is worth
From ARE's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Sep '26
$671.2M-11% vs a year earlier
Dec '23Tap a barSep '26
Last 12 months: $2.8B, down 9.9% from the 12 months before. Over 5 years, sales grew about 9.9% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of ARE. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$1.6B
Profit in 5 years$163M
Price these guesses point to$12.71-71% vs $43.35 todayAbout -22% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 15% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-8.6%
MissDebt under half of equityNot relying on borrowed money.0.80x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-47.2%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$1.4B
MissShare count not growingNot diluting owners. Falling means buybacks.+5.3% in 3 years
Revenue
$3.0B
-2.9% vs prior year
5-year growth
+9.9%/yr
revenue, per year
Total debt
$12.4B
0.80x equity
Free cash flow
$1.4B
46.7% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Sep 30, 2026
Reported Oct 26After close4:08 pm ET
Revenue
$671.2M
-10.7% YoY
EPS
-$3.74
vs -$1.38
Free cash flow
$341.8M
Share count
+0.3%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
45/ 100
This week
2
Normal week
2.5
vs normal
0.8x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+14.2%
Institutions added 14.2% to their holdings. 333 bought, 261 sold.
Shares held by institutions169.6M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+0.1%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.9x · $12.9B debt
Shares outstandingLatest reported
174M
Why moderate risk
Losing money, losses are large next to sales
2 offering filings in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportAround Jan 25, 2027 (est.)Estimated from the same quarter last year
Results filedOct 26
Results filedAug 3
Results filedApr 27
Results filedJan 26
Results filedOct 27, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days