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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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How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: -1%. 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.
What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $15.0M dividends + $0 buybacks = $15.0M returned on -$181.0M 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.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $27.0M 100.0% | $23.0M 100.0% | $22.0M 100.0% | $29.0M 100.0% | $29.8M 100.0% | $31.8M 100.0% | $32.7M 100.0% |
| Selling, General & Admin | $307.0M | $513.0M | $389.0M | $158.0M 585.2% | $127.0M 552.2% | $124.0M 563.6% | $120.0M 413.8% | $129.0M 433.5% | $178.6M 562.2% | $187.6M 574.2% |
| Total Operating Expenses | — | — | — | $604.0M 2237.0% | $518.0M 2252.2% | $511.0M 2322.7% | $511.0M 1762.1% | $546.6M 1836.5% | $641.2M 2019.0% | $638.1M 1953.5% |
| Interest Expense | — | — | $2.41B | $696.0M 2577.8% | $400.0M 1739.1% | $608.0M 2763.6% | $848.0M 2924.1% | $658.7M 2212.9% | $452.2M 1424.0% | $387.5M 1186.2% |
| Pretax Income | -$198.0M | -$1.38B | -$50.0M | $826.0M 3059.3% | $806.0M 3504.3% | $588.0M 2672.7% | $523.0M 1803.4% | $557.7M 1873.6% | $668.2M 2104.0% | $777.1M 2379.1% |
| Income Tax Expense | -$21.0M | -$260.0M | $29.0M | $176.0M 651.9% | $210.0M 913.0% | $77.0M 350.0% | $128.0M 441.4% | $135.3M 454.4% | $202.0M 636.1% | $281.7M 862.5% |
| Net Income | -$177.0M | -$1.12B | -$79.0M | $650.0M 2407.4% | $596.0M 2591.3% | $511.0M 2322.7% | $395.0M 1362.1% | $422.4M 1419.2% | $466.2M 1467.9% | $495.4M 1516.6% |
| Per Share | ||||||||||
| EPS (Basic) | -$0.50 | -$3.49 | -$0.49 | $3.78 | $1.20 | $1.02 | $0.77 | $0.79 | $0.90 | $1.01 |
| EPS (Diluted) | -$0.50 | -$3.49 | -$0.49 | $3.77 | $1.20 | $1.02 | $0.77 | $0.79 | $0.90 | $1.01 |
| Weighted Avg Shares (Basic) | 415.3M | 330.7M | 237.9M | 161.2M | 463.9M | 462.6M | 465.4M | 487.3M | 487.1M | 485.2M |
| Weighted Avg Shares (Diluted) | 415.3M | 330.7M | 237.9M | 161.7M | 464.6M | 463.3M | 465.7M | 487.3M | 487.1M | 485.2M |
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 2 positive fiscal years (FY2023, FY2024). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $10.51 today, the market must believe free cash flow compounds 29.1%/yr for a decade (off $174.5M on the 3-yr avg basis).
On the basis ($124.0M) the requirement is 34.1%/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 · 0.42B shares (market data) · net debt $12.18B
mean -23.7% · volatility σ 151% · implied rate exceeded in 2/9 yrs
Central path = implied 29.1%/yr growth; shaded band = ±1σ (151%) 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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~11.4% on $21.27B of debt. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. 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
Where each multiple sits in its own 14-yr range · 21th 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 -2% against ROIC -1% — -1% 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
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 433.5 | 413.8 | 563.6 | 552.2 | 585.2 | — | — | — |
| Income Tax | 454.4 | 441.4 | 350.0 | 913.0 | 651.9 | — | — | — |
| Net Income | 1419.2 | 1362.1 | 2322.7 | 2591.3 | 2407.4 | — | — | — |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on FLG: 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.