The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/4Mixed
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.17.3%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$26.0M
PassShare count not growingNot diluting owners. Falling means buybacks.0.0% in 3 years
Revenue
$12.2B
+18.3% vs prior year
5-year growth
+4.8%/yr
revenue, per year
Total debt
$22.5B
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%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 4
Revenue
$2.6B
-8.9% YoY
EPS
$0.67
vs $1.17
Op. margin
18.1%
-11.0 pts
Free cash flow
-$216.0M
Share count
-0.2%
vs a year ago
Insider rating
Last 90 days
47Mixed
Pre-planned sales of $141K (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
0/ 100
This week
0
Normal week
1.3
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.5%
Institutions added 3.5% to their holdings. 658 bought, 484 sold.
Shares held by institutions386.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
0.0%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.4x · $23.6B debt
Shares outstandingLatest reported
498M
Earnings reports
Last 12
Next reportIn 6 days (est.)Estimated from the same quarter last year
Results filedAug 4
Results filedMay 5
Results filedFeb 26
Results filedNov 3, 2025
Results filedAug 5, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days