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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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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.
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $50K dividends + $0 buybacks = $50K returned.
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: -34%. 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.
EOD close · as of 2026-10-29
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 | $11.5M 100.0% | $8.3M 100.0% | $11.9M 100.0% | $10.7M 100.0% | $9.9M 100.0% | $3.5M 100.0% | $3.7M 100.0% | $2.2M 100.0% | $1.6M 100.0% | $1.2M 100.0% |
| Cost of Revenue | $4.3M 37.5% | $3.8M 46.5% | $3.6M 30.0% | $4.1M 38.0% | $3.8M 38.1% | $1.7M 48.3% | $1.7M 44.9% | $1.5M 66.1% | $1.4M 88.1% | $404K 35.2% |
| Gross Profit | $7.2M 62.5% | $4.4M 53.5% | $8.3M 70.0% | $6.6M 62.0% | $6.1M 61.9% | $1.8M 51.7% | $2.0M 55.1% | $756K 33.9% | $194K 11.9% | $353K 30.7% |
| Selling, General & Admin | $5.3M 46.2% | $4.1M 49.1% | $3.1M 26.0% | $2.7M 25.3% | $4.4M 44.9% | $3.6M 103.9% | $3.3M 89.2% | $2.8M 123.7% | $2.1M 126.4% | $2.5M 218.5% |
| Total Operating Expenses | $6.1M 52.9% | $4.6M 55.9% | $3.1M 26.1% | $2.7M 25.5% | $4.4M 45.0% | $3.6M 103.9% | $3.3M 89.4% | $2.8M 124.7% | $3.2M 196.0% | $2.5M 218.9% |
| Operating Income | $1.1M 9.5% | -$194K -2.3% | $5.2M 43.8% | $3.9M 36.5% | $1.7M 16.8% | -$1.8M -52.2% | -$1.3M -34.3% | -$2.0M -90.8% | -$3.0M -184.1% | -$2.2M -188.2% |
| Interest Expense | $6.8M 59.1% | $3.0M 36.8% | $440K 3.7% | $453K 4.2% | — | $144K 4.2% | $489K 13.2% | $329K 14.8% | $112K 6.9% | $49K 4.2% |
| Other Income (Expense), net | -$6.8M -59.4% | -$3.0M -36.3% | -$2.1M -17.5% | -$7.2M -66.9% | -$2.0M -19.9% | -$1.1M -32.3% | -$5.3M -143.2% | -$1.9M -86.7% | -$659K -40.6% | -$90K -7.8% |
| Pretax Income | -$5.7M -49.8% | -$3.2M -38.6% | $3.1M 26.3% | -$3.3M -30.4% | -$304K -3.1% | -$2.9M -84.6% | -$6.0M -162.6% | — | — | — |
| Income Tax Expense | $0 0.0% | — | — | — | — | — | — | — | — | — |
| Net Income | -$5.5M -47.7% | -$3.3M -39.9% | $3.0M 25.5% | -$5.4M -50.8% | $666K 6.7% | -$2.8M -82.2% | -$7.2M -193.7% | -$6.3M -281.3% | -$3.7M -224.6% | -$2.3M -196.0% |
| Per Share | ||||||||||
| EPS (Basic) | — | — | — | — | -$0.01 | — | — | — | — | -$0.17 |
| EPS (Diluted) | — | — | — | — | -$0.01 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 6.9M | 3.8M | 14K | 6K | 128.0M | 908K | 25K | — | — | — |
| Weighted Avg Shares (Diluted) | 8.5M | 3.8M | 15K | 6K | 128.0M | 908K | 25K | — | — | — |
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.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $319K is below the $22.3M due within a year — relies on refinancing or operating cash flow. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (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.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~36.8% on $18.6M of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
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.
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 2026-10-29
Where each multiple sits in its own 14-yr range · 25th 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 223% against ROIC -34% — 257% 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 -5111.3% — 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
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 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 66.1 | 44.9 | 48.3 | 38.1 | 38.0 | 30.0 | 46.5 | 37.5 |
| Gross Profit | 33.9 | 55.1 | 51.7 | 61.9 | 62.0 | 70.0 | 53.5 | 62.5 |
| SG&A | 123.7 | 89.2 | 103.9 | 44.9 | 25.3 | 26.0 | 49.1 | 46.2 |
| Operating Income | -90.8 | -34.3 | -52.2 | 16.8 | 36.5 | 43.8 | -2.3 | 9.5 |
| Income Tax | — | — | — | — | — | — | — | 0.0 |
| Net Income | -281.3 | -193.7 | -82.2 | 6.7 | -50.8 | 25.5 | -39.9 | -47.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CDIX: 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.