Loading institutional data...
Loading institutional data...
Insufficient data to determine institutional momentum.
Data as of Q3 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading analysis...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading insider activity...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 12 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QCOM | $198.0B | 37.0× | 14.8× | 4.5× | 13.7% | 55.4% | 12.5% | 26.1% | 15.4% | 0.7× | 1,051 |
| MSI | $81.4B | 38.6× | 26.2× | 7.0× | 8.0% | 51.7% | 18.4% | 89.4% | 18.6% | 2.3× | 450 |
| UI | $36.7B | 38.3× | 30.0× | 11.2× | 27.2% | 46.2% | 29.3% | 66.7% | 66.7% | -0.4× | 71 |
| PL | $5.2B | — | — | 16.9× | 25.9% | 56.1% | -80.2% | -131% | -131% | — | 71 |
| ONDS | $4.0B | — | — | 79.0× | 605% | 39.7% | -261% | -30.2% | -30.2% | — | 98 |
| VISN | $1.5B | 0.7× | 119.0× | 0.8× | 39.7% | 49.5% | — | -227% | 36.5% | — | 48 |
| HLIT | $1.2B | — | 46.3× | 3.3× | -26.2% | 48.5% | -12.0% | -11.3% | -8.7% | -0.5× | 48 |
| UMAC | $863M | — | — | 77.1× | 101% | 34.9% | -171% | -11.0% | -11.0% | — | 36 |
| GILT | $620M | 23.7× | 9.6× | 1.4× | 47.9% | 29.5% | 4.6% | 4.1% | 4.1% | -3.5× | 17 |
| BKTI | $273M | 21.0× | 14.1× | 3.2× | 12.5% | 48.8% | 15.7% | 30.3% | 30.3% | -1.3× | 12 |
| AVNW | $266M | 109.0× | 12.9× | 0.6× | 1.2% | 31.5% | 0.6% | 0.9% | 0.7% | 1.1× | 19 |
| CRNT | $199M | — | 9.9× | 0.6× | -14.1% | 33.8% | -0.6% | -1.2% | -1.1% | -1.1× | 11 |
| VUZI | $192M | — | — | 30.6× | 9.1% | -16.9% | -514% | -131% | -131% | — | 14 |
Peers = companies sharing BKTI's sector (Radio & Tv Broadcasting & Communications Equipment) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.2M buybacks = $1.2M returned on $18.4M 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 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 30%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 2 positive fiscal years (FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $68.23 today, the market must believe free cash flow compounds 4.2%/yr for a decade (off $15.0M on the 3-yr avg basis).
The market's 4.2% is more conservative than its 9-yr track record.
Default is 9.9% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.00B shares (market data) · net debt -$22.8M
mean -162.0% · volatility σ 173% · implied rate exceeded in 1/4 yrs
Central path = implied 4.2%/yr growth; shaded band = ±1σ (173%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $22.8M (at 2025-12-31) covers all $537K of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2023-03-31 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
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. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
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 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $86.1M 100.0% | $76.6M 100.0% | $74.1M 100.0% | $51.0M 100.0% | $45.4M 100.0% | $44.1M 100.0% | $40.1M 100.0% | $49.4M 100.0% | $39.4M 100.0% | $50.7M 100.0% |
| Cost of Revenue | $44.1M 51.2% | $47.5M 62.1% | $51.9M 70.0% | $41.1M 80.7% | $29.1M 64.2% | $26.1M 59.2% | $24.4M 61.0% | $29.4M 59.5% | $29.8M 75.8% | $180K 0.4% |
| Cost of Products | — | — | — | — | — | — | — | — | $29.8M 75.8% | $33.6M 66.3% |
| Gross Profit | $42.0M 48.8% | $29.1M 37.9% | — | — | — | — | — | — | — | — |
| Research & Development | $10.6M 12.3% | $7.8M 10.2% | $9.3M 12.6% | $9.6M 18.8% | — | $7.9M 17.8% | $9.8M 24.4% | $7.8M 15.7% | $5.0M 12.7% | $4.1M 8.1% |
| Selling, General & Admin | $26.0M 30.2% | $21.2M 27.7% | $23.0M 31.1% | $20.9M 41.1% | $17.5M 38.5% | $17.0M 38.6% | $20.0M 50.0% | $17.6M 35.5% | $14.6M 37.0% | $12.8M 25.2% |
| Total Operating Expenses | — | $68.8M 89.8% | $74.9M 101.0% | $62.0M 121.7% | $46.6M 102.6% | $43.1M 97.7% | $44.5M 110.9% | $47.0M 95.1% | $44.4M 112.8% | $46.4M 91.5% |
| Operating Income | $16.0M 18.6% | $7.8M 10.2% | -$777K -1.0% | -$11.1M -21.7% | -$1.2M -2.6% | $994K 2.3% | -$4.4M -10.9% | $2.4M 4.9% | -$5.0M -12.8% | $4.3M 8.5% |
| Interest Expense | -$265K -0.3% | $266K 0.3% | $575K 0.8% | $144K 0.3% | $53K 0.1% | $8K 0.0% | — | — | — | — |
| Interest & Investment Income | — | — | — | — | $53K 0.1% | $8K 0.0% | $150K 0.4% | $102K 0.2% | $46K 0.1% | $9K 0.0% |
| Other Income (Expense), net | $130K 0.2% | -$453K -0.6% | -$1.4M -1.9% | -$552K -1.1% | -$318K -0.7% | -$797K -1.8% | $762K 1.9% | -$2.9M -5.9% | $242K 0.6% | -$13K -0.0% |
| Pretax Income | $16.1M 18.7% | $7.4M 9.6% | -$2.2M -2.9% | -$11.6M -22.8% | -$1.5M -3.3% | $197K 0.4% | -$3.6M -9.0% | -$472K -1.0% | -$4.8M -12.1% | $4.3M 8.4% |
| Income Tax Expense | $2.6M 3.0% | -$984K -1.3% | $54K 0.1% | $0 0.0% | -$187K -0.4% | -$3K -0.0% | -$987K -2.5% | -$277K -0.6% | -$1.8M -4.6% | $1.6M 3.1% |
| Net Income | $13.5M 15.7% | $8.4M 10.9% | -$2.2M -3.0% | -$11.6M -22.8% | -$1.7M -3.7% | $194K 0.4% | -$2.6M -6.6% | -$195K -0.4% | -$3.6M -9.2% | $2.7M 5.3% |
| Per Share | ||||||||||
| EPS (Basic) | $3.69 | $2.35 | -$0.65 | — | -$0.11 | $0.02 | -$0.21 | -$0.01 | -$0.27 | $0.20 |
| EPS (Diluted) | $3.44 | $2.25 | -$0.65 | — | -$0.11 | $0.02 | -$0.21 | -$0.01 | -$0.27 | $0.19 |
| Weighted Avg Shares (Basic) | 3.7M | 3.6M | 3.4M | 17K | 15K | 12.6M | 13K | 13K | 14K | 14K |
| Weighted Avg Shares (Diluted) | 3.9M | 3.7M | 3.4M | — | 14.9M | 12.6M | 13K | 13K | 14K | 14K |
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.
Top 14 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 64th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-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 30% against ROIC 30% — 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 36.3% — 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
High operating leverage: profit moved 8.4× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 59.5 | 61.0 | 59.2 | 64.2 | 80.7 | 70.0 | 62.1 | 51.2 |
| Gross Profit | — | — | — | — | — | — | 37.9 | 48.8 |
| R&D | 15.7 | 24.4 | 17.8 | — | 18.8 | 12.6 | 10.2 | 12.3 |
| SG&A | 35.5 | 50.0 | 38.6 | 38.5 | 41.1 | 31.1 | 27.7 | 30.2 |
| Operating Income | 4.9 | -10.9 | 2.3 | -2.6 | -21.7 | -1.0 | 10.2 | 18.6 |
| Income Tax | -0.6 | -2.5 | -0.0 | -0.4 | 0.0 | 0.1 | -1.3 | 3.0 |
| Net Income | -0.4 | -6.6 | 0.4 | -3.7 | -22.8 | -3.0 | 10.9 | 15.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BKTI: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
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.
Earns 55.44pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | -19.5% | 9.9% (today's — no rate published for this year) | -29.4pts |
| FY2020 | 4.7% | 9.9% (today's — no rate published for this year) | -5.2pts |
| FY2021 | -4.7% | 9.5% | -14.2pts |
| FY2022 | -51.3% | 8.8% | -60.2pts |
| FY2023 | -3.7% | 8.0% | -11.7pts |
| FY2024 | 30.5% | 11.1% | 19.4pts |
| FY2025 | 63.2% | 9.9% | 53.3pts |
| Now | 30.3% | 9.9% | 20.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 33.7% | 8.5% | 5.3% |
| FY2017 | 24.2% | -12.8% | -9.2% |
| FY2018 | 40.5% | 4.9% | -0.4% |
| FY2019 | 39.0% | -10.9% | -6.6% |
| FY2020 | 40.8% | 2.3% | 0.4% |
| FY2021 | 35.8% | -2.6% | -3.7% |
| FY2022 | 19.3% | -21.7% | -22.8% |
| FY2023 | 30.0% | -1.0% | -3.0% |
| FY2024 | 37.9% | 10.2% | 10.9% |
| FY2025 | 48.8% | 18.6% | 15.7% |
Return on equity (30%) and return on invested capital (30%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
The spread was positive in only 2 of the last 5 years.
Converts 6.92x of reported profit into cash — adequate, without much margin.
Only 3 profitable years available, so the average is shorter than the five the threshold assumes.
Missing from our data, so excluded from this answer: share_based_compensation.
Stressed coverage falls to -42.2x — below the level at which interest is reliably covered.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | -60.33x |
| 5% | -57.31x |
| 10% | -54.30x |
| 15% | -51.28x |
| 20% | -48.26x |
| 25% | -45.25x |
| 30% | -42.23x |
| 35% | -39.21x |
| 40% | -36.20x |
| 45% | -33.18x |
| 50% | -30.16x |
| 55% | -27.15x |
| 60% | -24.13x |
This schedule comes from a filing dated 2023-03-31, 1309 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2023-03-31 (10-Q); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $1,575,000 of the $1,575,000 total — a fixed obligation that does not appear in a headline debt figure.
At $72.30, free cash flow must compound 5.15%/yr for 10 years. It has no positive compounding record to compare against, though across a reporting-basis change.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | −349.2% | 5.2% |
| FY2025 | 59.6% | 5.2% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The achieved growth rate spans a reporting-basis change in FY2020, so part of it measures the restatement rather than the business.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|
| Step | Amount | Running total |
|---|---|---|
| Net income | $14M | $14M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $6M | $19M |
| Operating cash flow | $19M | $19M |
| Capex | −$1M | $18M |
| Free cash flow | $18M | $18M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 10.1% | 63.1% | 53.0 points |
| FY2021 | 2.8% | 27.3% | 24.5 points |
| FY2022 | 12.3% | 29.0% | 16.7 points |
| FY2023 | 45.4% | -25.6% | -71.0 points |
| FY2024 | 3.4% | -7.0% | -10.4 points |
| FY2025 | 12.5% | -1.7% | -14.2 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 36.1 days | 201.7 days | 79.3 days | 158.5 days |
| FY2020 | 53.5 days | 147.4 days | 71.6 days | 129.3 days |
| FY2021 | 66.2 days | 212.9 days | 73.8 days | 205.4 days |
| FY2022 | 76.1 days | 196.3 days | 114.5 days | 157.8 days |
| FY2023 | 38.9 days | 168.6 days | 69.1 days | 138.4 days |
| FY2024 | 35 days | 135.4 days | 48.6 days | 121.8 days |
| FY2025 | 30.6 days | 131.2 days | 39.6 days | 122.3 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -0.4 percent |
| FY2020 | -11.0 percent |
| FY2021 | 9.1 percent |
| FY2022 | -5.4 percent |
| FY2023 | -7.9 percent |
| FY2024 | -8.6 percent |
| FY2025 | -9.3 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 2 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
| 2026-06-12 | 3 co-filers CEO & President | Open-market sale | 223 | $85.02 | $19k |
| 2026-06-11 | 3 co-filers CEO & President | Open-market sale | 2,000 | $81.61 | $163k |
| 2026-06-11 | 3 co-filers CEO & President | Open-market sale | 777 | $85.00 | $66k |
| 2026-02-02 | Avanic Branko CTO | Grant | 497 | $0.00 | $0 |
| 2026-01-26 | Horowitz Joshua Director | Grant | 461 | $0.00 | $0 |
| 2026-01-26 | Jackson Robert Joseph Director | Grant | 461 | $0.00 | $0 |
| 2026-01-26 | Lanktree Charles T Director | Grant | 461 | $0.00 | $0 |
| 2026-01-26 | Ohara Ellen O Director | Grant | 461 | $0.00 | $0 |
| 2026-01-26 | Payne E. Gray Director | Grant | 461 | $0.00 | $0 |
| 2026-01-26 | Sams Lloyd Roberts Director | Grant | 461 | $0.00 | $0 |
| 2025-11-13 | 2 co-filers CFO & Secretary | Option exercise | 1,000 | $12.27 | $12k |
| 2025-11-13 | 2 co-filers CFO & Secretary | Option exercise | 1,000 | $0.00 | — |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.