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Data as of Q3 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $13.25 today, the market must believe free cash flow compounds -24.3%/yr for a decade (off $128.7M on the 3-yr avg basis).
On the basis ($122.1M) the requirement is -23.3%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's -24.3% is more conservative than its 9-yr track record.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.03B shares (market data) · net debt -$108.7M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean 19.4% · volatility σ 354% · implied rate exceeded in 3/8 yrs
Central path = implied -24.3%/yr growth; shaded band = ±1σ (354%) 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.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $6.8M buybacks = $6.8M returned on $40.1M 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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -29%. 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.
How much the company owes, how it's trended, and how comfortably it's serviced.
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.
Ranked against 39 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PRTH | $647M | 11.5× | 7.9× | 0.7× | 8.3% | — | 5.8% | -55.5% | 5.9% | 4.7× | 20 |
| GRPN | $640M | — | 16.9× | 1.3× | 1.2% | 90.8% | -16.8% | 196% | -27.8% | 1.1× | 19 |
| MOMO | $631M | 12.9× | — | 0.4× | 2.4% | 37.8% | 7.8% | 7.3% | 7.3% | -3.8× | 13 |
| CARS | $602M | 35.1× | 11.2× | 0.8× | 0.6% | — | 2.8% | 4.2% | 2.2% | 4.4× | 31 |
| IBEX | $597M | 14.3× | 7.6× | 0.9× | 15.4% | — | 7.2% | 27.2% | 27.0% | -0.4× | 27 |
| WEAV | $595M | — | — | 2.5× | 17.0% | 72.1% | -11.7% | -34.1% | -34.1% | — | 31 |
| KELYA | $576M | — | — | 0.1× | -1.9% | 20.1% | -6.0% | -26.0% | -23.6% | — | 26 |
| OOMA | $550M | 86.6× | — | 2.0× | 6.5% | 61.1% | 2.4% | 7.0% | 4.3% | — | 35 |
| BLZE | $470M | — | — | 3.2× | 14.3% | 60.9% | -17.6% | -30.8% | -30.8% | -14.8× | 23 |
| GRVY | $469M | — | 139.2× | 11.0× | 40.0% | 41.6% | 0.5% | 0.8% | 0.8% | -4.3× | 12 |
| RMNI | $463M | 12.7× | 6.4× | 1.1× | -1.7% | 60.4% | 8.8% | -137% | 92.4% | -0.8× | 16 |
| DDD | $462M | 14.6× | — | 1.2× | -12.1% | 33.9% | 7.7% | 12.4% | 9.0% | — | 38 |
| ISSC | $444M | 28.2× | 19.5× | 5.3× | 78.6% | 48.1% | 18.5% | 24.2% | 17.6% | 0.9× | 19 |
| CCRN | $428M | — | — | 0.4× | -21.6% | — | -9.0% | -29.4% | -29.4% | — | 1 |
| TLS | $405M | — | — | 2.5× | 52.2% | 37.0% | -22.2% | -38.1% | -38.1% | — | 24 |
| SOHU | $391M | 0.9× | — | 0.7× | -2.4% | 77.5% | 67.4% | 30.8% | 30.8% | — | 5 |
| SLP | $374M | — | — | 4.7× | 13.1% | 58.4% | -81.7% | -51.9% | -51.9% | — | 25 |
| API | $371M | 219.5× | — | 2.6× | 5.9% | 66.4% | 6.8% | 1.7% | 1.5% | — | 3 |
| CRNC | $366M | — | 85.6× | 1.4× | -24.0% | 72.7% | -7.4% | -12.4% | -5.3% | — | 32 |
| PERI | $359M | — | 97.1× | 0.8× | -11.7% | — | -1.8% | -1.2% | -1.2% | — | 11 |
| LAW | $340M | — | — | 2.2× | 8.3% | 74.9% | -28.3% | -34.6% | -34.6% | — | 20 |
| IIIV | $317M | 24.4× | 7.9× | 1.5× | 11.5% | — | 8.4% | 4.6% | 4.6% | -2.1× | 16 |
| EGHT | $302M | 209.0× | 14.3× | 0.4× | 2.9% | 64.6% | 0.2% | 1.1% | 0.4% | 6.2× | 18 |
| FVRR | $302M | 15.0× | 13.1× | 0.7× | 10.1% | 81.6% | 4.9% | 5.1% | 5.1% | -9.3× | 23 |
| TBI | $297M | — | — | 0.2× | 3.1% | 22.8% | -3.0% | -17.5% | -14.1% | — | 17 |
Peers = companies sharing CCRN's sector (Services-Help Supply Services) 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.
EOD close · as of 2026-07-28 · 96d old
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 | $1.05B 100.0% | $1.34B 100.0% | $2.02B 100.0% | $2.80B 100.0% | $1.68B 100.0% | $836.4M 100.0% | $822.2M 100.0% | $816.5M 100.0% | $865.0M 100.0% | $833.5M 100.0% |
| Cost of Services | — | — | — | — | — | — | — | — | $636.5M 73.6% | $611.8M 73.4% |
| Selling, General & Admin | $200.7M 19.0% | $233.4M 17.4% | $300.3M 14.9% | $324.2M 11.6% | $216.4M 12.9% | $173.8M 20.8% | $182.0M 22.1% | $180.2M 22.1% | $187.4M 21.7% | $179.8M 21.6% |
| Total Operating Expenses | $1.14B 108.0% | $1.36B 101.3% | $1.91B 94.4% | $2.53B 90.4% | $1.54B 91.7% | $845.6M 101.1% | $837.9M 101.9% | $829.4M 101.6% | $853.3M 98.6% | $827.4M 99.3% |
| Operating Income | -$84.4M -8.0% | -$16.9M -1.3% | $112.7M 5.6% | $269.9M 9.6% | $139.3M 8.3% | -$9.2M -1.1% | -$15.7M -1.9% | -$12.9M -1.6% | $11.7M 1.4% | $6.2M 0.7% |
| Interest Expense | $2.2M 0.2% | $2.2M 0.2% | $8.1M 0.4% | $14.4M 0.5% | $6.9M 0.4% | $2.9M 0.3% | $5.3M 0.6% | $5.7M 0.7% | $4.2M 0.5% | $6.1M 0.7% |
| Interest & Investment Income | $3.1M 0.3% | $2.0M 0.2% | $83K 0.0% | $10K 0.0% | — | $0 0.0% | $200K 0.0% | $400K 0.0% | $100K 0.0% | $100K 0.0% |
| Other Income (Expense), net | -$9K -0.0% | $605K 0.0% | -$85K -0.0% | $1.3M 0.0% | $770K 0.0% | -$280K -0.0% | $68K 0.0% | $418K 0.1% | $155K 0.0% | $230K 0.0% |
| Pretax Income | -$83.5M -7.9% | -$16.4M -1.2% | $102.9M 5.1% | $253.1M 9.0% | $133.2M 7.9% | -$12.3M -1.5% | -$24.2M -2.9% | -$18.2M -2.2% | $4.3M 0.5% | $4.5M 0.5% |
| Income Tax Expense | $11.3M 1.1% | -$1.8M -0.1% | $30.3M 1.5% | $67.1M 2.4% | $1.2M 0.1% | -$188K -0.0% | $31.7M 3.9% | -$2.5M -0.3% | -$34.5M -4.0% | -$4.2M -0.5% |
| Net Income | -$94.9M -9.0% | -$14.6M -1.1% | $72.6M 3.6% | $188.5M 6.7% | $132.0M 7.9% | -$13.0M -1.5% | -$57.7M -7.0% | -$17.0M -2.1% | $37.5M 4.3% | $8.0M 1.0% |
| Per Share | ||||||||||
| EPS (Basic) | -$2.93 | -$0.44 | $2.07 | $5.02 | $3.60 | -$0.36 | -$1.61 | -$0.48 | $1.07 | $0.25 |
| EPS (Diluted) | -$2.93 | -$0.44 | $2.05 | $4.95 | $3.53 | -$0.36 | -$1.61 | -$0.48 | $1.01 | $0.15 |
| Weighted Avg Shares (Basic) | 32.4M | 33.4M | 35.2M | 37.0M | 36.7M | 36.1M | 35.8M | 35.7M | 35.0M | 32.1M |
| Weighted Avg Shares (Diluted) | 32.4M | 33.4M | 35.5M | 37.5M | 37.4M | 36.1M | 35.8M | 35.7M | 36.2M | 36.2M |
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.
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 |
|---|---|---|---|---|---|
| 2026-07-21 | 2 co-filers Group filing | Other | 114,331 | $13.25 | $1.5m |
| 2026-07-21 | 3 co-filers Chief Financial Officer | Other | 336,438 | $13.25 | $4.5m |
| 2026-07-21 | 3 co-filers Chief Accounting Officer | Other | 31,480 | $13.25 | $417k |
| 2026-07-21 | Nevin Janice Elizabeth Director | Other | 48,616 | $13.25 | $644k |
| 2026-07-21 | 4 co-filers Chief Executive Officer | Other | 948,133 | $13.25 | $12.6m |
| 2026-07-21 | Bhamidipati Venkat Director | Other | 29,759 | $13.25 | $394k |
| 2026-07-21 | 3 co-filers Group President, Delivery | Other | 77,232 | $13.25 | $1.0m |
| 2026-07-21 | Allen Dwayne Director | Other | 31,289 | $13.25 | $415k |
| 2026-07-21 | Cash W Larry Director | Other | 223,312 | $13.25 | $3.0m |
| 2026-07-21 | 3 co-filers General Counsel and Secretary | Other | 241,777 | $13.25 | $3.2m |
| 2026-07-21 | 3 co-filers Chief Operating Officer | Other | 43,953 | $13.25 | $582k |
| 2026-07-21 | 3 co-filers Chief Accounting Officer | Grant | 16,797 | $0.00 | $0 |
| 2026-07-21 | 3 co-filers Chief Operating Officer | Grant | 27,897 | $0.00 | $0 |
| 2026-07-21 | 3 co-filers Group President, Delivery | Grant | 47,120 | $0.00 | $0 |
| 2026-07-21 | 3 co-filers General Counsel and Secretary | Grant | 72,872 | $0.00 | $0 |
| 2026-07-21 | 3 co-filers Chief Financial Officer | Grant | 104,157 | $0.00 | $0 |
| 2026-07-21 | 4 co-filers Chief Executive Officer | Grant | 247,416 | $0.00 | $0 |
| 2026-07-21 | 2 co-filers Group filing | Otherindirect | 79,918 | $13.25 | $1.1m |
| 2026-07-21 | 4 co-filers Chief Executive Officer | Other | 247,416 | $13.25 | $3.3m |
| 2026-07-21 | 3 co-filers Chief Financial Officer | Other | 104,157 | $13.25 | $1.4m |
| 2026-07-21 | 3 co-filers General Counsel and Secretary | Other | 72,872 | $13.25 | $966k |
| 2026-07-21 | 3 co-filers Chief Operating Officer | Other | 27,897 | $13.25 | $370k |
| 2026-07-21 | 3 co-filers Chief Accounting Officer | Other | 16,797 | $13.25 | $223k |
| 2026-07-21 | 3 co-filers Group President, Delivery | Other | 47,120 | $13.25 | $624k |
| 2026-07-21 | 4 co-filers Chief Executive Officer | Otherindirect | 3,961 | $13.25 | $52k |
| 2026-07-09 | Veizaga Marvin Chief Accounting Officer | Tax withholding | 236 | $13.21 | $3k |
| 2026-03-31 | 3 co-filers General Counsel and Secretary | Grant | 33,644 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers Group President, Delivery | Grant | 21,024 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers Chief Operating Officer | Grant | 15,958 | $0.00 | $0 |
| 2026-03-31 | Clark Kevin Cronin Chief Executive Officer | Grant | 138,963 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers Chief Financial Officer | Grant | 47,873 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers Chief Accounting Officer | Grant | 9,043 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers General Counsel and Secretary | Tax withholding | 1,689 | $9.40 | $16k |
| 2026-03-31 | 3 co-filers Group President, Delivery | Tax withholding | 1,123 | $9.40 | $11k |
| 2026-03-31 | 3 co-filers Chief Operating Officer | Tax withholding | 583 | $9.40 | $5k |
| 2026-03-31 | 3 co-filers Chief Financial Officer | Tax withholding | 2,423 | $9.40 | $23k |
| 2026-03-31 | 3 co-filers Chief Accounting Officer | Tax withholding | 501 | $9.40 | $5k |
| 2026-03-31 | 3 co-filers Chief Financial Officer | Tax withholding | 2,890 | $9.40 | $27k |
| 2026-03-31 | 3 co-filers General Counsel and Secretary | Tax withholding | 2,014 | $9.40 | $19k |
| 2026-03-31 | 3 co-filers Chief Accounting Officer | Tax withholding | 437 | $9.40 | $4k |
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.
EOD close · as of 2026-07-28
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -29% against ROIC -29% — 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 -25.6% — 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 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 22.1 | 22.1 | 20.8 | 12.9 | 11.6 | 14.9 | 17.4 | 19.0 |
| Operating Income | -1.6 | -1.9 | -1.1 | 8.3 | 9.6 | 5.6 | -1.3 | -8.0 |
| Income Tax | -0.3 | 3.9 | -0.0 | 0.1 | 2.4 | 1.5 | -0.1 | 1.1 |
| Net Income | -2.1 | -7.0 | -1.5 | 7.9 | 6.7 | 3.6 | -1.1 | -9.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CCRN: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | 0.7% | 1.0% |
| FY2017 | not reported | 1.4% | 4.3% |
| FY2018 | not reported | -1.6% | -2.1% |
| FY2019 | not reported | -1.9% | -7.0% |
| FY2020 | not reported | -1.1% | -1.5% |
| FY2021 | not reported | 8.3% | 7.9% |
| FY2022 | not reported | 9.6% | 6.7% |
| FY2023 | not reported | 5.6% | 3.6% |
| FY2024 | not reported | -1.3% | -1.1% |
| FY2025 | not reported | -8.0% | -9.0% |
Return on equity (-29%) and return on invested capital (-29%) 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.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: beta.
Converts 1.06x of reported profit into free cash flow over 3 years, with accruals negative.
Reported free cash flow is $40M; after share-based compensation it is $33M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
At $13.25, free cash flow must compound -24.15%/yr for 10 years. It has done 57.74%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 768.1% | −24.1% |
| FY2021 | −510.8% | −24.1% |
| FY2023 | 87.2% | −24.1% |
| FY2024 | −52.5% | −24.1% |
| FY2025 | −64.0% | −24.1% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | −$95M | −$95M |
| Share-based comp | $7M | −$88M |
| Other non-cash & working capital | $136M | $48M |
| Operating cash flow | $48M | $48M |
| Capex | −$8M | $40M |
| Free cash flow | $40M | $40M |
| FCF after SBC | $33M | $33M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 1.7% | 0.3% | -1.4 points |
| FY2021 | 100.5% | 190.5% | 90.1 points |
| FY2022 | 67.2% | 29.9% | -37.3 points |
| FY2023 | -27.9% | -42.0% | -14.0 points |
| FY2024 | -33.5% | -40.0% | -6.6 points |
| FY2025 | -21.6% | -25.0% | -3.4 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 75.3 days | not reported | not reported | not reported |
| FY2020 | 74.2 days | not reported | not reported | not reported |
| FY2021 | 107.5 days | not reported | not reported | not reported |
| FY2022 | 83.5 days | not reported | not reported | not reported |
| FY2023 | 67.3 days | not reported | not reported | not reported |
| FY2024 | 60.6 days | not reported | not reported | not reported |
| FY2025 | 58 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -16.5 percent |
| FY2020 | -11.3 percent |
| FY2021 | 29.7 percent |
| FY2022 | 5.7 percent |
| FY2023 | -25.8 percent |
| FY2024 | -22.9 percent |
| FY2025 | -31.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 7 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.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.