CompanyGraph
What stands out
- Most companies in its industry are production businesses; this one is an interface business
At a glance
- Depends onMidstream position: 5 outgoing, 4 incoming connections
- ScaleMarket cap is $7.6B, above the global median of $1.15B
- FinancialsAltman Z-Score 4.2: safe zone
- Interpretations6 currently firing — 6
What this company is and how it runs — written from structure, not news.
What stands out
- Most companies in its industry are production businesses; this one is an interface business
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Sign inThe reported statements, read against the company's own industry.
Financials view
Market Capitalization
7.60BUSDvs all stocks (USD)
Revenue (TTM)
2.37BUSDvs all stocks (USD)
Profit Margin
-0.56%Beta
2.34xvs all stocks
52-Week Change
-31.01%vs all stocks
Market Capitalization
7.60BUSDvs all stocks (USD)
Enterprise Value
7.98BUSDvs all stocks (USD)
Forward P/E
36.90xPrice to Sales (TTM)
3.21xPrice to Book (MRQ)
16.98xEnterprise to Revenue
3.37xEnterprise to EBITDA
95.69xGross Margin
65.25%Profit Margin
-0.56%Operating Margin
-7.90%Return on Assets (TTM)
0.60%Return on Equity (TTM)
-2.66%Revenue (TTM)
2.37BUSDvs all stocks (USD)
Revenue per Share (TTM)
10.46USDUpdated Jul 19, 2026Quarterly Revenue Growth
3.80%Gross Profit (TTM)
1.73BUSDvs all stocks (USD)
EBITDA (TTM)
155.68MUSDvs all stocks (USD)
Net Income (TTM)
-13.23MUSDvs all stocks (USD)
Quarterly Earnings Growth (YoY)
3.77%Operating Cash Flow (TTM)
280.27MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
174.31MUSDvs all stocks (USD)
Trailing Annual Dividend Rate
0.00USDUpdated Jul 19, 2026Trailing Annual Dividend Yield
0.00%vs all stocks
Payout Ratio
0.00%Revenue
2.35BUSDFY2025 · Dec 31, 2025Cost of Goods Sold
614.26MUSDFY2025 · Dec 31, 2025Gross Profit
1.73BUSDFY2025 · Dec 31, 2025Operating Income
105.61MUSDvs all stocks (USD)
Pre-tax Income
123.92MUSDFY2025 · Dec 31, 2025Income Tax Expense
-4.44MUSDFY2025 · Dec 31, 2025Net Income
128.37MUSDFY2025 · Dec 31, 2025EBIT
105.61MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
155.68MUSDFY2025 · Dec 31, 2025Research & Development
149.30MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
1.19BUSDFY2025 · Dec 31, 2025Other Operating Expenses
286.44MUSDFY2025 · Dec 31, 2025EPS (Basic)
0.5700USDFY2025 · Dec 31, 2025EPS (Diluted)
0.5100USDFY2025 · Dec 31, 2025Basic Shares Outstanding
224.96MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
224.96MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
128.37MUSDFY2025 · Dec 31, 2025Operating Cash Flow
400.85MUSDFY2025 · Dec 31, 2025Free Cash Flow
174.81MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
228.62MUSDFY2025 · Dec 31, 2025Income Tax Paid
23.16MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
128.37MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
54.50MUSDFY2025 · Dec 31, 2025Deferred Taxes (CF)
-12.96MUSDFY2025 · Dec 31, 2025Stock-based Compensation
135.24MUSDFY2025 · Dec 31, 2025Other Non-cash Items
29.95MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
30.30MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
35.45MUSDFY2025 · Dec 31, 2025Capital Expenditures
-226.04MUSDFY2025 · Dec 31, 2025Net Intangibles (CF)
-16.55MUSDFY2025 · Dec 31, 2025Net Acquisitions
-145.23MUSDFY2025 · Dec 31, 2025Purchase of Investments
-745.84MUSDFY2025 · Dec 31, 2025Sale of Investments
108.70MUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-1.01BUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
970.00MUSDFY2025 · Dec 31, 2025Common Stock Repurchase
-89.96MUSDFY2025 · Dec 31, 2025Other Financing Charges
-167.89MUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
712.15MUSDFY2025 · Dec 31, 2025Shares Outstanding
230.70MSharesUpdated Jul 19, 2026Float Shares
210.59MSharesUpdated Jul 19, 2026Shares Short
61.17MSharesUpdated Jul 19, 2026Short Ratio
3.27daysvs all stocks
Short % of Shares Outstanding
31.82%vs all stocks
% Held by Insiders
5.51%vs all stocks
% Held by Institutions
70.25%vs all stocks
Total Cash (MRQ)
750.88MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
3.24USDUpdated Jul 19, 2026Total Debt (MRQ)
1.13BUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
2.54xCurrent Ratio (MRQ)
1.69xBook Value per Share (MRQ)
1.93USDUpdated Jul 19, 2026Total Assets
2.15BUSDvs all stocks (USD)
Total Current Assets
767.64MUSDFY2025 · Dec 31, 2025Total Liabilities
1.61BUSDFY2025 · Dec 31, 2025Total Non-current Assets
1.39BUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
1.21BUSDFY2025 · Dec 31, 2025Total Current Liabilities
404.43MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
228.62MUSDFY2025 · Dec 31, 2025Other Short-term Investments
348.88MUSDFY2025 · Dec 31, 2025Accounts Receivable
32.15MUSDFY2025 · Dec 31, 2025Inventory
80.13MUSDFY2025 · Dec 31, 2025Accounts Payable
143.28MUSDFY2025 · Dec 31, 2025Short-term Debt
4.84MUSDFY2025 · Dec 31, 2025Deferred Revenue
127.16MUSDFY2025 · Dec 31, 2025Other Current Liabilities
3.65MUSDFY2025 · Dec 31, 2025Long-term Debt
1.12BUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
64.74MUSDFY2025 · Dec 31, 2025Common Stock (Book)
23.00KUSDFY2025 · Dec 31, 2025Retained Earnings
-113.77MUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
540.93MUSDvs all stocks (USD)
52-Week Low
13.74USDUpdated Jul 19, 202652-Week High
70.43USDUpdated Jul 19, 202652-Week Change
-31.01%vs all stocks
Beta
2.34xvs all stocks
50-Day MA
29.84USDUpdated Jul 19, 2026200-Day MA
31.66USDUpdated Jul 19, 2026Avg 10-Day Volume
11.67MSharesUpdated Jul 19, 2026Avg 30-Day Volume
16.83MSharesUpdated Jul 19, 2026Diluted EPS (TTM)
-0.0900USDUpdated Jul 19, 2026Other Income / Expense
18.31MUSDFY2025 · Dec 31, 20256 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsHow does this company use capital?
Operating Income Growing With Multi-Year Revenue Growth
Revenue up in each of five years, with operating income up in each of four.
Reads
Minimal Tax and Interest Drag
Almost nothing is lost between its operating profit and its net income.
Reads
How is this stock valued?
Drawdown With FCF And Cash Backing
Well below its peak, with three years of positive free cash flow behind it.
Reads
Where is this company structurally exposed?
Ulcer Index Elevated, Drawdown From Peak Significant, 20-Week Volatility Elevated
It sits well below its peak, and the fall has been both deep and long.
SBC-to-Net-Income Elevated, SBC-to-Revenue Elevated, And Diluted Share Count Growing (6Y CAGR)
Pay in shares is large next to its revenue and its profit, and the share count keeps rising.
Reads
Share Dilution
Its share count has grown over six years, with more waiting in options.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Structural Tensions
Most companies in its industry are production businesses; this one is an interface businessSignificant
Industry peers: 330Share on the common pattern %: 99.00
High gross margins eroded by operating costsNotable
Gross Margin: 0.65Profit Margin: -0.01
Significant cash reserves alongside high leverageNotable
Cash (USD): 750,875,008Total Debt (USD): 1,132,036,992Debt-to-Equity: 2.54
Financial Health
Altman Z-Score 4.2: safe zoneNotable
Altman Z-Score: 4.20
High earnings qualityNotable
Earnings Quality Score: 0.98
Consistent revenue growth patternNotable
Growth Consistency Score: 0.60
Supply Chain
Midstream position: 5 outgoing, 4 incoming connectionsNotable
Outgoing: 5.00Incoming: 4.00
Scale
Market cap is $7.6B, above the global median of $1.15BNotable
Market cap (USD): 7,601,070,703Global Median: 1,146,734,693.424
Revenue is $2.37B, above the global median of $520.53MNotable
Revenue (USD): 2,369,731,072Global Median: 520,528,949.311
Levered free cash flow is $174.31M, above the global median of $16.24MNotable
Levered free cash flow (USD): 174,305,120Global Median: 16,239,329.704
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Companies that share active interpretations — structural patterns currently present in both stocks.
Shift4 Payments Inc.
4 interpretationsDrawdown With FCF And Cash BackingOperating Income Growing With Multi-Year Revenue GrowthUlcer Index Elevated, Drawdown From Peak Significant, 20-Week Volatility ElevatedShare Dilution
ServiceNow, Inc.
4 interpretationsDrawdown With FCF And Cash BackingOperating Income Growing With Multi-Year Revenue GrowthUlcer Index Elevated, Drawdown From Peak Significant, 20-Week Volatility ElevatedSBC-to-Net-Income Elevated, SBC-to-Revenue Elevated, And Diluted Share Count Growing (6Y CAGR)
Carvana Co.
3 interpretationsOperating Income Growing With Multi-Year Revenue GrowthUlcer Index Elevated, Drawdown From Peak Significant, 20-Week Volatility ElevatedShare Dilution