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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 -$41.6M 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: -38%. 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 2026-08-05 · 87d 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 | FY2017 | FY2016 | FY2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $741.7M 100.0% | $827.1M 100.0% | $844.5M 100.0% | $953.5M 100.0% | $916.5M 100.0% | $816.2M 100.0% | $1.11B 100.0% | $1.14B 100.0% | $1.14B 100.0% | $1.17B 100.0% |
| Cost of Revenue | — | — | — | — | — | — | $3.5M 0.3% | — | — | — |
| Selling, General & Admin | $378.1M 51.0% | $376.8M 45.6% | $377.0M 44.6% | $383.4M 40.2% | $376.8M 41.1% | $367.7M 45.0% | $461.2M 41.4% | $477.5M 42.0% | $472.9M 41.4% | $477.3M 40.8% |
| Total Operating Expenses | $879.8M 118.6% | $1.07B 129.0% | $885.8M 104.9% | $873.7M 91.6% | $847.4M 92.5% | $826.8M 101.3% | $947.2M 85.1% | $1.35B 118.5% | $1.55B 135.8% | $1.65B 140.9% |
| Operating Income | -$138.1M -18.6% | -$239.7M -29.0% | -$41.3M -4.9% | $79.8M 8.4% | $69.1M 7.5% | -$10.6M -1.3% | $166.2M 14.9% | -$210.4M -18.5% | -$408.8M -35.8% | -$478.5M -40.9% |
| Interest Expense | $65.2M 8.8% | $68.8M 8.3% | $71.3M 8.4% | $64.9M 6.8% | $67.8M 7.4% | $68.1M 8.3% | $82.9M 7.4% | $127.0M 11.2% | $138.6M 12.1% | $141.7M 12.1% |
| Interest & Investment Income | $995K 0.1% | $531K 0.1% | $2.4M 0.3% | $340K 0.0% | — | $6K 0.0% | $25K 0.0% | $136K 0.0% | $493K 0.0% | $433K 0.0% |
| Other Income (Expense), net | -$64.3M -8.7% | -$53.4M -6.5% | -$59.4M -7.0% | -$60.2M -6.3% | -$48.9M -5.3% | -$68.4M -8.4% | -$82.7M -7.4% | -$159.8M -14.1% | -$128.1M -11.2% | -$113.8M -9.7% |
| Pretax Income | -$202.5M -27.3% | -$293.0M -35.4% | -$100.7M -11.9% | $19.6M 2.1% | $20.3M 2.2% | -$79.0M -9.7% | $83.5M 7.5% | -$370.3M -32.6% | -$536.9M -47.0% | -$592.3M -50.7% |
| Income Tax Expense | -$1.8M -0.2% | -$9.8M -1.2% | $17.2M 2.0% | $3.4M 0.4% | $3.0M 0.3% | -$19.2M -2.4% | $22.3M 2.0% | -$163.7M -14.4% | -$26.2M -2.3% | -$45.8M -3.9% |
| Net Income | -$200.7M -27.1% | -$283.3M -34.2% | -$117.9M -14.0% | $16.2M 1.7% | $17.3M 1.9% | -$59.7M -7.3% | $61.3M 5.5% | -$206.6M -18.2% | -$510.7M -44.7% | -$546.5M -46.8% |
| Per Share | ||||||||||
| EPS (Basic) | -$11.55 | -$16.79 | -$6.83 | $0.83 | $0.84 | -$2.94 | $3.04 | — | — | -$2.34 |
| EPS (Diluted) | -$11.55 | -$16.79 | -$6.83 | $0.81 | $0.83 | -$2.94 | $3.02 | — | — | -$2.34 |
| Weighted Avg Shares (Basic) | 17.4M | 16.9M | 17.3M | 19.6M | 20.5M | 20.3M | 20.1M | 29.3M | 29.3M | 29.2M |
| Weighted Avg Shares (Diluted) | 17.4M | 16.9M | 17.3M | 20.0M | 20.9M | 20.3M | 20.3M | 29.3M | 29.3M | 29.2M |
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.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2023). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $0.01 today, the market must believe free cash flow compounds 28.9%/yr for a decade (off $6.8M on the 3-yr avg basis).
On the basis ($1.6M) the requirement is 50.8%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.02B shares (market data) · net debt $636.7M
mean -21.1% · volatility σ 215% · implied rate exceeded in 3/8 yrs
Central path = implied 28.9%/yr growth; shaded band = ±1σ (215%) 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 $82.0M covers the $23.9M due within a year 3.4× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~9.1% on $718.7M of debt.
Cash of $82.0M fully covers short-term debt of $23.9M.
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 2026-08-05
Where each multiple sits in its own 7-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 7-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 105% against ROIC -38% — 143% of the return on equity comes from leverage and buybacks rather than from the operating business.
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 4.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2017 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | — | 0.3 | — | — | — | — | — | — |
| SG&A | 42.0 | 41.4 | 45.0 | 41.1 | 40.2 | 44.6 | 45.6 | 51.0 |
| Operating Income | -18.5 | 14.9 | -1.3 | 7.5 | 8.4 | -4.9 | -29.0 | -18.6 |
| Income Tax | -14.4 | 2.0 | -2.4 | 0.3 | 0.4 | 2.0 | -1.2 | -0.2 |
| Net Income | -18.2 | 5.5 | -7.3 | 1.9 | 1.7 | -14.0 | -34.2 | -27.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on CMLSQ: 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.