The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/5Weak
MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-21.3%
MissProfitable every yearSteady profits, not one good year.7 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$118.8M
PassShare count not growingNot diluting owners. Falling means buybacks.-39.9% in 3 years
Revenue
$8.6B
-4.1% vs prior year
5-year growth
-2.8%/yr
revenue, per year
Total debt
$26.2B
Current ratio
0.80x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Sep 21
Revenue
$2.0B
-5.8% YoY
EPS
-$0.67
vs -$0.21
Op. margin
8.2%
-6.3 pts
Gross margin
71.0%
+1.9 pts
Free cash flow
-$91.9M
Share count
-4.7%
vs a year ago
Insider rating
Last 90 days
76Buying
1 insider bought $1.2M
Neil S Subin grew their stake 11.4%
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
63/ 100
This week
2
Normal week
1.2
vs normal
1.7x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-25.7%
Institutions cut 25.7% from their holdings. 118 bought, 84 sold. 3 quarters of net selling in a row.
Shares held by institutions223.5M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-15.6%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
Owes more than it owns
Shares outstandingLatest reported
273M
Why high risk
Losing money, losses are large next to sales
Owes more than it owns (negative equity)
Bills due within a year exceed short-term assets
1 offering filing in 6 months (may sell new shares)
Past financials no longer reliable
Exchange listing notice (a delisting warning or a move to another exchange)
Earnings reports
Last 12
Next reportAround Dec 21 (est.)Estimated from the same quarter last year
Results filedSep 21
Results filedAug 6
Results filedMay 7
Results filedFeb 12
Results filedNov 6, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days