CompanyGraph
What stands out
- Dividend several times the last twelve months' earnings
At a glance
- Depends onMidstream position: 5 outgoing, 5 incoming connections
- ScaleLevered free cash flow is $1.55B, higher than 95% of all stocks globally
- PositionP/E ratio is 77.58×, higher than 95% of its Asset Management peers (median 26.27×)
- Interpretations8 currently firing — 8
Sign in to view price data.
Sign inWhat the company actually pays, and whether its own cash supports it.
What stands out
- Dividend several times the last twelve months' earnings
Dividends view
Yield
9.89%Above 5Y avg (2.81%)
Annual Rate
USD 0.92Paid quarterly
Payout Ratio
754.2%High
Consecutive Growth
4 yr
Paying Dividends
6 yr
Payback Period
11.4 yr
Last Ex-Dividend
Aug 13, 2026
Last Payment
Aug 27, 2026
The reported statements, read against the company's own industry.
Financials view
Market Capitalization
14.59BUSDvs all stocks (USD)
Trailing P/E
77.58xvs Asset Management peers
Revenue (TTM)
2.99BUSDvs all stocks (USD)
Profit Margin
2.71%vs Asset Management peers
Beta
1.33xvs all stocks
52-Week Change
-43.78%vs all stocks
Forward Annual Dividend Yield
9.89%vs all stocks
Market Capitalization
14.59BUSDvs all stocks (USD)
Enterprise Value
14.16BUSDvs all stocks (USD)
Trailing P/E
77.58xvs Asset Management peers
Forward P/E
9.53xvs Asset Management peers
PEG Ratio
-2.33xvs Asset Management peers
Price to Sales (TTM)
4.88xvs Asset Management peers
Price to Book (MRQ)
3.19xvs Asset Management peers
Enterprise to Revenue
4.74xvs Asset Management peers
Enterprise to EBITDA
11.26xvs Asset Management peers
Gross Margin
52.27%vs Asset Management peers
Profit Margin
2.71%vs Asset Management peers
Operating Margin
28.94%vs Asset Management peers
Return on Assets (TTM)
4.48%vs Asset Management peers
Return on Equity (TTM)
5.65%vs Asset Management peers
Revenue (TTM)
2.99BUSDvs all stocks (USD)
Revenue per Share (TTM)
4.41USDUpdated Oct 28, 2026Quarterly Revenue Growth
7.10%vs Asset Management peers
Gross Profit (TTM)
1.75BUSDvs all stocks (USD)
EBITDA (TTM)
934.44MUSDvs all stocks (USD)
Net Income (TTM)
80.91MUSDvs all stocks (USD)
Quarterly Earnings Growth (YoY)
-34.60%vs Asset Management peers
Operating Cash Flow (TTM)
1.38BUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
1.55BUSDvs all stocks (USD)
Forward Annual Dividend Rate
0.9200USDUpdated Oct 28, 2026Forward Annual Dividend Yield
9.89%vs all stocks
Trailing Annual Dividend Rate
0.9100USDUpdated Oct 28, 2026Trailing Annual Dividend Yield
9.78%vs all stocks
5-Year Average Dividend Yield
2.81%vs all stocks
Payout Ratio
754.17%vs Asset Management peers
Minority Interest (Equity)
3.85BUSDFY2025 · Dec 31, 2025Revenue
2.87BUSDFY2025 · Dec 31, 2025Cost of Goods Sold
1.31BUSDFY2025 · Dec 31, 2025Gross Profit
1.56BUSDFY2025 · Dec 31, 2025Operating Income
456.25MUSDvs all stocks (USD)
Pre-tax Income
347.91MUSDFY2025 · Dec 31, 2025Income Tax Expense
42.42MUSDFY2025 · Dec 31, 2025Net Income
305.49MUSDFY2025 · Dec 31, 2025EBIT
511.67MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
901.17MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
747.94MUSDFY2025 · Dec 31, 2025Non-operating Interest Income
45.18MUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
163.75MUSDFY2025 · Dec 31, 2025EPS (Basic)
0.1200USDFY2025 · Dec 31, 2025EPS (Diluted)
0.1000USDFY2025 · Dec 31, 2025Basic Shares Outstanding
654.79MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
654.79MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
305.49MUSDFY2025 · Dec 31, 2025Minority Interests (P&L)
-226.65MUSDFY2025 · Dec 31, 2025Operating Cash Flow
1.20BUSDFY2025 · Dec 31, 2025Free Cash Flow
1.15BUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
194.51MUSDFY2025 · Dec 31, 2025Income Tax Paid
17.14MUSDFY2025 · Dec 31, 2025Interest Paid
155.39MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
305.49MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
382.40MUSDFY2025 · Dec 31, 2025Deferred Taxes (CF)
34.81MUSDFY2025 · Dec 31, 2025Stock-based Compensation
673.52MUSDFY2025 · Dec 31, 2025Other Non-cash Items
-42.22MUSDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
-103.05MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
2.80MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-49.09MUSDFY2025 · Dec 31, 2025Capital Expenditures
-57.75MUSDFY2025 · Dec 31, 2025Net Acquisitions
-244.58MUSDFY2025 · Dec 31, 2025Purchase of Investments
-94.27MUSDFY2025 · Dec 31, 2025Sale of Investments
126.03MUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
-270.57MUSDFY2025 · Dec 31, 2025Long-term Debt Issuance
2.27BUSDFY2025 · Dec 31, 2025Long-term Debt Payments
-1.54BUSDFY2025 · Dec 31, 2025Common Stock Repurchase
-53.69MUSDFY2025 · Dec 31, 2025Common Dividends Paid
-546.66MUSDFY2025 · Dec 31, 2025Other Financing Charges
-1.07BUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
-943.04MUSDFY2025 · Dec 31, 2025Shares Outstanding
1.56BSharesUpdated Oct 28, 2026Float Shares
648.53MSharesUpdated Oct 28, 2026Shares Short
105.87MSharesUpdated Oct 28, 2026Short Ratio
5.41daysvs all stocks
Short % of Shares Outstanding
17.66%vs all stocks
% Held by Insiders
0.12%vs all stocks
% Held by Institutions
96.45%vs all stocks
Total Cash (MRQ)
169.06MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
0.2470USDUpdated Oct 28, 2026Total Debt (MRQ)
4.34BUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
0.7739xvs Asset Management peers
Current Ratio (MRQ)
1.98xvs Asset Management peers
Book Value per Share (MRQ)
2.92USDUpdated Oct 28, 2026Total Assets
12.47BUSDvs all stocks (USD)
Total Current Assets
969.47MUSDFY2025 · Dec 31, 2025Total Liabilities
6.41BUSDFY2025 · Dec 31, 2025Total Non-current Assets
11.50BUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
5.39BUSDFY2025 · Dec 31, 2025Total Current Liabilities
1.02BUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
194.51MUSDFY2025 · Dec 31, 2025Accounts Receivable
47.44MUSDFY2025 · Dec 31, 2025Short-term Debt
860.00MUSDFY2025 · Dec 31, 2025Long-term Debt
3.00BUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
1.82BUSDFY2025 · Dec 31, 2025Common Stock (Book)
155.00KUSDFY2025 · Dec 31, 2025Retained Earnings
-1.61BUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
6.05BUSDvs all stocks (USD)
52-Week Low
7.95USDUpdated Oct 28, 202652-Week High
17.16USDUpdated Oct 28, 202652-Week Change
-43.78%vs all stocks
Beta
1.33xvs all stocks
50-Day MA
10.17USDUpdated Oct 28, 2026200-Day MA
10.40USDUpdated Oct 28, 2026Avg 10-Day Volume
19.02MSharesUpdated Oct 28, 2026Avg 30-Day Volume
18.85MSharesUpdated Oct 28, 2026Diluted EPS (TTM)
0.1200USDUpdated Oct 28, 2026Other Income / Expense
10.23MUSDFY2025 · Dec 31, 20258 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?
Cash-Backed Growth Configuration
Revenue has grown steadily, and the cash arriving matches reported profit.
Reads
Cash-Flow Ratios Elevated
More of its sales turn into cash than in its industry, and less of that cash is consumed by reinvestment than at most of its peers.
Reads
FCF Ratios Elevated
Its free cash flow is large next to assets and equity, and more of its operating cash reaches it than in its industry.
Reads
Revenue Growing With Receivables Growing
Revenue has risen three years, and what customers owe has risen with it.
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
Drawdown With OCF Coverage And Growth Consistency
Well below its peak, with cash covering profit and growth that has been steady.
Reads
Where is this company structurally exposed?
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.
Peer Positioning
P/E ratio is 77.58×, higher than 95% of its Asset Management peers (median 26.27×)Significant
P/E ratio: 77.58Industry median: 26.27Industry P95: 76.86Peers compared: 27.00
Structural Tensions
Dividend several times the last twelve months' earningsSignificant
Payout Ratio: 7.54Dividend per Share: 0.91Earnings per Share: 0.12
High gross margins eroded by operating costsNotable
Gross Margin: 0.52Profit Margin: 0.03
Financial Health
High earnings qualityNotable
Earnings Quality Score: 1.63
High structural barrier to entryNotable
Barrier to Entry: 2.13
Supply Chain
Midstream position: 5 outgoing, 5 incoming connectionsNotable
Outgoing: 5.00Incoming: 5.00
High connectivity hub: 10 industry connectionsNotable
Total Connections: 10.00
Scale
Levered free cash flow is $1.55B, higher than 95% of all stocks globallySignificant
Levered free cash flow (USD): 1,554,398,720Global P95: 1,233,976,520.5
Market cap is $14.59B, above the global median of $1.14BNotable
Market cap (USD): 14,590,226,940Global Median: 1,138,450,684.034
Revenue is $2.99B, above the global median of $562.3MNotable
Revenue (USD): 2,990,448,896Global Median: 562,304,852.367
Companies that share the same coordination system — how they create, deliver, or capture value.
Equitable Holdings, Inc.
Tier 1RiskExpertise LeverageInterfaceSenseMaking
Jio Financial Services Limited
Tier 1RiskExpertise LeverageInterfaceFlow
CVC Capital Partners plc
Tier 1RiskExpertise LeverageSenseMakingInterface
ICICI Prudential Asset Management Company Ltd.
Tier 1RiskExpertise LeverageInterfaceSenseMaking
The Carlyle Group Inc.
Tier 1RiskExpertise LeverageSenseMakingInterface
Corebridge Financial Inc.
Tier 1RiskExpertise LeverageSenseMakingInterface
Franklin Resources Inc.
Tier 1RiskExpertise LeverageSenseMakingInterface
Ares Capital Corporation
Tier 1RiskExpertise LeverageFlowInterface
IGM Financial Inc.
Tier 1RiskExpertise LeverageInterfaceSenseMaking
Invesco Ltd.
Tier 1RiskExpertise LeverageSenseMakingFlow
Companies that share active interpretations — structural patterns currently present in both stocks.
M&A Research Institute Holdings, Inc.
6 interpretationsCash-Backed Growth ConfigurationFCF Ratios ElevatedCash-Flow Ratios ElevatedRevenue Growing With Receivables GrowingDrawdown With FCF And Cash BackingDrawdown With OCF Coverage And Growth Consistency
The Trade Desk, Inc.
6 interpretationsCash-Backed Growth ConfigurationFCF Ratios ElevatedCash-Flow Ratios ElevatedRevenue Growing With Receivables GrowingDrawdown With FCF And Cash BackingDrawdown With OCF Coverage And Growth Consistency
Wingstop Inc.
5 interpretationsCash-Backed Growth ConfigurationCash-Flow Ratios ElevatedRevenue Growing With Receivables GrowingDrawdown With FCF And Cash BackingDrawdown With OCF Coverage And Growth Consistency