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.10.9%
MissDebt under half of equityNot relying on borrowed money.1.75x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.12.5%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$45.1M
MissShare count not growingNot diluting owners. Falling means buybacks.+6.9% in 3 years
Revenue
$13.5B
+13.8% vs prior year
5-year growth
+8.8%/yr
revenue, per year
Total debt
$28.3B
1.75x equity
Current ratio
0.65x
short-term assets / bills due
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 Jun 30, 2026
Reported Jul 30
Revenue
$2.9B
+2.3% YoY
EPS
$0.14
vs $0.96
Op. margin
18.6%
-4.8 pts
Free cash flow
$76.3M
Share count
+2.2%
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
0/ 100
This week
0
Normal week
0.4
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.7%
Institutions added 3.7% to their holdings. 606 bought, 400 sold.
Shares held by institutions324.5M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+2.6%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.8x · $29.1B debt
Shares outstandingLatest reported
377M
Earnings reports
Last 12
Next reportDue any dayEstimated from the same quarter last year
Results filedJul 30
Results filedJul 1
Results filedMay 6
Results filedFeb 12
Results filedNov 4, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.
Latest filings
Straight from SEC EDGAR
SoldPenelope M ConnerEVP-Cust Exp & Energy Strategy
3,000 shares at $71.30 avg ($71.10 to $71.50) · $214K