CompanyGraphWhat stands out
- Most companies in its industry are production businesses; this one is a flow business
At a glance
- Depends onMidstream position: 6 outgoing, 8 incoming connections
- ScaleLevered free cash flow is $1.4B, higher than 95% of all stocks globally
- PositionGross margin is 13.8%, lower than 95% of its Medical Devices peers (median 59.2%)
- Interpretations4 currently firing — 4
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 a flow business
Sign in to view price data.
Sign inThe reported statements, read against the company's own industry.
Financials view
Market Capitalization
1.07BUSDvs all stocks (USD)
Revenue (TTM)
1.03BUSDvs all stocks (USD)
Profit Margin
-3.66%vs Medical Devices peers
52-Week Change
-39.85%vs all stocks
Market Capitalization
1.07BUSDvs all stocks (USD)
Enterprise Value
1.99BUSDvs all stocks (USD)
Forward P/E
12.37xvs Medical Devices peers
Price to Sales (TTM)
1.04xvs Medical Devices peers
Price to Book (MRQ)
1.78xvs Medical Devices peers
Enterprise to Revenue
1.93xvs Medical Devices peers
Enterprise to EBITDA
23.16xvs Medical Devices peers
Gross Margin
13.77%vs Medical Devices peers
Profit Margin
-3.66%vs Medical Devices peers
Operating Margin
3.51%vs Medical Devices peers
Return on Assets (TTM)
-2.67%vs Medical Devices peers
Return on Equity (TTM)
-8.04%vs Medical Devices peers
Revenue (TTM)
1.03BUSDvs all stocks (USD)
Revenue per Share (TTM)
13.28USDUpdated Jul 19, 2026Quarterly Revenue Growth
3.10%vs Medical Devices peers
Gross Profit (TTM)
155.24MUSDvs all stocks (USD)
EBITDA (TTM)
133.37MUSDvs all stocks (USD)
Net Income (TTM)
-37.70MUSDvs all stocks (USD)
Operating Cash Flow (TTM)
33.97MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
1.40BUSDvs all stocks (USD)
Trailing Annual Dividend Rate
0.00USDUpdated Jul 19, 2026Trailing Annual Dividend Yield
0.00%vs all stocks
Payout Ratio
0.00%vs Medical Devices peers
Revenue
1.02BUSDFY2025 · Dec 31, 2025Cost of Goods Sold
865.52MUSDFY2025 · Dec 31, 2025Gross Profit
157.56MUSDFY2025 · Dec 31, 2025Operating Income
26.73MUSDvs all stocks (USD)
Pre-tax Income
-32.22MUSDFY2025 · Dec 31, 2025Income Tax Expense
14.88MUSDFY2025 · Dec 31, 2025Net Income
-47.10MUSDFY2025 · Dec 31, 2025EBIT
86.32MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
156.13MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
90.45MUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
118.54MUSDFY2025 · Dec 31, 2025Net Income from Continuing Operations
-47.10MUSDFY2025 · Dec 31, 2025Operating Cash Flow
44.00MUSDFY2025 · Dec 31, 2025Free Cash Flow
23.17MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
58.83MUSDFY2025 · Dec 31, 2025Income Tax Paid
14.97MUSDFY2025 · Dec 31, 2025Interest Paid
112.80MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
-47.10MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
55.39MUSDFY2025 · Dec 31, 2025Deferred Taxes (CF)
8.08MUSDFY2025 · Dec 31, 2025Stock-based Compensation
41.60MUSDFY2025 · Dec 31, 2025Other Non-cash Items
6.18MUSDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
-14.01MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
14.41MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-20.54MUSDFY2025 · Dec 31, 2025Capital Expenditures
-20.83MUSDFY2025 · Dec 31, 2025Net Acquisitions
-123.00KUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-20.96MUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
827.85MUSDFY2025 · Dec 31, 2025Long-term Debt Payments
-1.22BUSDFY2025 · Dec 31, 2025Net Short-term Debt Issuance
1.60MUSDFY2025 · Dec 31, 2025Common Stock Repurchase
0.00USDFY2025 · Dec 31, 2025Other Financing Charges
-17.08MUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
31.58MUSDFY2025 · Dec 31, 2025Shares Outstanding
96.08MSharesUpdated Jul 19, 2026Float Shares
22.12MSharesUpdated Jul 19, 2026Shares Short
2.82MSharesUpdated Jul 19, 2026Short Ratio
3.42daysvs all stocks
Short % of Shares Outstanding
10.94%vs all stocks
% Held by Insiders
80.79%vs all stocks
% Held by Institutions
34.60%vs all stocks
Total Cash (MRQ)
51.23MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
0.5330USDUpdated Jul 19, 2026Total Debt (MRQ)
967.45MUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
1.61xvs Medical Devices peers
Current Ratio (MRQ)
1.41xvs Medical Devices peers
Book Value per Share (MRQ)
6.24USDUpdated Jul 19, 2026Total Assets
1.76BUSDvs all stocks (USD)
Total Current Assets
227.26MUSDFY2025 · Dec 31, 2025Total Liabilities
1.18BUSDFY2025 · Dec 31, 2025Total Non-current Assets
1.54BUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
999.24MUSDFY2025 · Dec 31, 2025Total Current Liabilities
179.19MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
58.83MUSDFY2025 · Dec 31, 2025Accounts Receivable
131.84MUSDFY2025 · Dec 31, 2025Accounts Payable
44.86MUSDFY2025 · Dec 31, 2025Short-term Debt
38.78MUSDFY2025 · Dec 31, 2025Long-term Debt
923.73MUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
34.74MUSDFY2025 · Dec 31, 2025Common Stock (Book)
96.00KUSDFY2025 · Dec 31, 2025Retained Earnings
-631.06MUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
586.12MUSDvs all stocks (USD)
52-Week Low
6.45USDUpdated Jul 19, 202652-Week High
19.45USDUpdated Jul 19, 202652-Week Change
-39.85%vs all stocks
50-Day MA
9.57USDUpdated Jul 19, 2026200-Day MA
12.06USDUpdated Jul 19, 2026Avg 10-Day Volume
429.41KSharesUpdated Jul 19, 2026Avg 30-Day Volume
725.45KSharesUpdated Jul 19, 2026Diluted EPS (TTM)
-0.3900USDUpdated Jul 19, 2026Other Income / Expense
59.59MUSDFY2025 · Dec 31, 20254 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 patternsIs this company financially stable?
Debt Financing Activity
More cash moved through borrowing and repaying than through the business itself, and most of its debt is long-term.
Reads
How does this company use capital?
Diagnostic
Depreciation-Heavy Reported Profit
It reports a profit, and much of the gap to cash is depreciation rather than earnings.
Reads
Diagnostic
Earnings Growth With Heavy Accrual Component
It reports a profit, with depreciation heavy in the cash bridge and receivables rising.
Reads
Where is this company structurally exposed?
Receivables Heavy and Growing
Money owed by customers keeps growing, and is much of its current assets.
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.
Peer Positioning
Gross margin is 13.8%, lower than 95% of its Medical Devices peers (median 59.2%)Significant
Gross margin: 0.14Industry median: 0.59Industry P5: 0.24Peers compared: 59.00
Structural Tensions
Most companies in its industry are production businesses; this one is a flow businessSignificant
Industry peers: 174Share on the common pattern %: 98.00
Financial Health
Altman Z-Score 0.82: distress zoneCritical
Altman Z-Score: 0.82
Supply Chain
Midstream position: 6 outgoing, 8 incoming connectionsNotable
Outgoing: 6.00Incoming: 8.00
High connectivity hub: 14 industry connectionsNotable
Total Connections: 14.00
Scale
Levered free cash flow is $1.4B, higher than 95% of all stocks globallySignificant
Levered free cash flow (USD): 1,404,815,000Global P95: 1,123,592,359.78
Revenue is $1.03B, above the global median of $520.53MNotable
Revenue (USD): 1,030,617,024Global Median: 520,528,949.311
Companies that share the same coordination system — how they create, deliver, or capture value.
Nanjing Pharmaceutical Co., Ltd.
Tier 1FlowApproval-Gated PipelineInterfaceRule
AdaptHealth Corp.
Tier 1FlowApproval-Gated PipelineInterfaceProduction
Viemed Healthcare Inc.
Tier 1FlowApproval-Gated PipelineProductionRule
Dimed S.A. Distribuidora de Medicamentos
Tier 1FlowApproval-Gated PipelineInterfaceRule
Iridium Corporation
Tier 2FlowApproval-Gated PipelineProduction
Hyundai Movex Co., Ltd.
Tier 2FlowApproval-Gated PipelineProductionRisk
Link Mobility Group Holding ASA
Tier 3FlowThroughput-Bound ConversionRuleInterface
CJ Logistics Corporation
Tier 3FlowThroughput-Bound ConversionInterfaceSenseMaking
China Railway Tielong Container Logistics Co., Ltd.
Tier 3FlowThroughput-Bound ConversionProductionInterface
Shreeji Shipping Global Limited
Tier 3FlowThroughput-Bound ConversionProductionInterface
Companies that share active interpretations — structural patterns currently present in both stocks.
FTAI Aviation Ltd.
3 interpretationsDepreciation-Heavy Reported ProfitEarnings Growth With Heavy Accrual ComponentDebt Financing Activity
Molina Healthcare Inc.
2 interpretationsDepreciation-Heavy Reported ProfitEarnings Growth With Heavy Accrual Component
Alignment Healthcare, Inc.
2 interpretationsDepreciation-Heavy Reported ProfitEarnings Growth With Heavy Accrual Component