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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$9.9M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 8 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -94%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.0M 100.0% | $9.1M 100.0% | $7.7M 100.0% | $6.4M 100.0% | $5.0M 100.0% | $3.2M 100.0% | $7.5M 100.0% | $20.6M 100.0% |
| Research & Development | $673K 8.4% | $866K 9.5% | $163K 2.1% | — | — | — | — | — |
| Selling, General & Admin | $31.1M 389.3% | $13.3M 147.0% | $7.6M 98.9% | $10.8M 169.6% | $13.1M 263.4% | $16.3M 507.2% | $10.4M 138.3% | $16.5M 79.9% |
| Total Operating Expenses | $47.0M 589.7% | $32.4M 356.7% | $14.3M 186.2% | $18.1M 285.2% | $20.7M 418.2% | $34.9M 1088.1% | $21.9M 290.2% | $49.4M 239.9% |
| Operating Income | -$39.1M -489.7% | -$23.3M -256.7% | -$6.6M -86.2% | -$11.8M -185.2% | -$15.8M -318.2% | -$31.7M -988.1% | -$14.4M -190.2% | -$28.8M -139.9% |
| Interest Expense | $287K 3.6% | $68K 0.8% | $0 0.0% | $0 0.0% | $90K 1.8% | $5.5M 172.8% | $1.1M 14.3% | $2.1M 10.3% |
| Interest & Investment Income | $4.2M 53.2% | $3.7M 40.3% | $3.0M 38.6% | — | — | — | — | $2.5M 12.0% |
| Other Income (Expense), net | $3.9M 48.9% | $304K 3.4% | $3.0M 39.2% | $942K 14.8% | $713K 14.4% | -$14.1M -437.8% | -$1.1M -14.5% | -$2.2M -10.6% |
| Pretax Income | -$35.2M -440.9% | -$23.0M -253.3% | -$3.6M -47.0% | — | -$15.1M -303.9% | $19.8M 616.7% | -$15.5M -205.3% | -$31.0M -150.6% |
| Income Tax Expense | -$537K -6.7% | -$425K -4.7% | — | $10.8M 170.4% | $15.1M 303.9% | — | — | $576K 2.8% |
| Net Income | -$34.6M -434.1% | -$22.6M -248.7% | -$3.6M -47.0% | -$10.8M -170.4% | $62.9M 1268.5% | -$45.1M -1403.3% | -$16.7M -221.8% | -$30.6M -148.6% |
| Per Share | ||||||||
| EPS (Basic) | -$0.83 | -$0.42 | -$0.09 | -$0.28 | — | — | — | — |
| EPS (Diluted) | -$0.83 | -$0.42 | -$0.09 | -$0.28 | — | — | — | — |
| Weighted Avg Shares (Basic) | 39.6M | 40.4M | 37.2M | 39.1M | 39.0M | 28.7M | 18.1M | 11.6M |
| Weighted Avg Shares (Diluted) | 39.6M | 40.4M | 37.2M | 39.1M | 39.0M | 28.7M | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow on any basis, so a reverse DCF can't be run.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-10-30
Where each multiple sits in its own 8-yr range · 37th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 8-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -94% against ROIC -94% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is -60.8% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| R&D | — | — | — | — | — | 2.1 | 9.5 | 8.4 |
| SG&A | 79.9 | 138.3 | 507.2 | 263.4 | 169.6 | 98.9 | 147.0 | 389.3 |
| Operating Income | -139.9 | -190.2 | -988.1 | -318.2 | -185.2 | -86.2 | -256.7 | -489.7 |
| Income Tax | 2.8 | — | — | 303.9 | 170.4 | — | -4.7 | -6.7 |
| Net Income | -148.6 | -221.8 | -1403.3 | 1268.5 | -170.4 | -47.0 | -248.7 | -434.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AIFA: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.