The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-19.3%
MissDebt under half of equityNot relying on borrowed money.9.82x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-3.1%
MissProfitable every yearSteady profits, not one good year.2 of 5 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$115.0M
PassShare count not growingNot diluting owners. Falling means buybacks.-2.2% in 3 years
Revenue
$3.2B
-10.7% vs prior year
Total debt
$4.3B
9.82x equity
Current ratio
2.42x
short-term assets / bills due
Free cash flow
$115.0M
3.6% 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 Jun 30, 2026
Reported Aug 5
Revenue
$840.0M
+7.1% YoY
EPS
-$1.06
vs -$0.91
Op. margin
6.0%
+3.3 pts
Free cash flow
$46.0M
Share count
+3.7%
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
0.9
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+5.9%
Institutions added 5.9% to their holdings. 107 bought, 56 sold. 6 quarters of net buying in a row.
Shares held by institutions32.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+4.1%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
10.6x · $4.0B debt
Shares outstandingLatest reported
72M
Why moderate risk
Losing money
High debt: 10.62x equity
Revenue down 10.7% from the year before
Earnings reports
Last 12
Next reportIn 7 days (est.)Estimated from the same quarter last year
Results filedAug 5
Results filedApr 30
Results filedFeb 25
Results filedNov 5, 2025
Results filedAug 6, 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
Other transferFrederick G SmithVice President, Director, 10% owner
288,000 shares at $12.76 · $3.7M
+640% of holdings
Now owns 333,000 shares
Held Frederick G. Smith AFS 2025, Series I Irrevocable Trust