The checklist Warren Buffett-style investors use. Annual numbers for 2025.
6/6Strong
PassReturn on equity 15%+Earns a lot on the money owners have in the business.19.5%
PassDebt under half of equityNot relying on borrowed money.No debt reported
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.29.2%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$373.9M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.3% in 3 years
Revenue
$846.3M
+3.6% vs prior year
5-year growth
+4.2%/yr
revenue, per year
Total debt
None
0.00x equity
Free cash flow
$373.9M
44.2% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Sep 30, 2026
Reported Oct 23Before open6:30 am ET
Revenue
$210.4M
+0.8% YoY
EPS
$1.53
vs $1.84
Op. margin
35.4%
-5.6 pts
From the press release, checked against last year's SEC filing. Cash flow and share count update with the 10-Q.
Insider rating
Last 90 days
49Mixed
Pre-planned sales of $16K (weaker signal)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
65/ 100
This week
3
Normal week
1.7
vs normal
1.8x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+3.0%
Institutions added 3.0% to their holdings. 182 bought, 269 sold. 3 quarters of net buying in a row.
Shares held by institutions39.2M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-2.2%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
35M
Earnings reports
Last 12
Next reportAround Feb 5, 2027 (est.)Estimated from the same quarter last year
Results filedOct 23
Results filedJul 30
Results filedMay 7
Results filedFeb 6
Results filedNov 7, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days