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Data as of Q3 2026
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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 19 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| INOD | $1.5B | 47.6× | 30.4× | 6.0× | 47.6% | 39.5% | 12.8% | 30.0% | 30.0% | -1.8× | 52 |
| GDRX | $1.2B | 38.8× | 15.4× | 1.5× | 0.6% | — | 3.8% | 4.9% | 2.8% | 2.5× | 24 |
| LZ | $1.2B | 84.0× | 15.5× | 1.5× | 10.9% | 65.9% | 2.0% | 9.0% | 9.0% | -3.3× | 38 |
| UPWK | $1.1B | 10.9× | 10.1× | 1.4× | 2.4% | 77.8% | 14.7% | 18.3% | 8.6% | 2.7× | 47 |
| CLVT | $1.1B | — | 6.2× | 0.4× | -4.0% | 66.0% | -8.2% | -4.2% | -2.2% | 4.9× | 34 |
| TASK | $761M | 7.5× | 4.3× | 0.6× | 19.0% | — | 8.6% | 17.0% | 12.2% | 0.2× | 12 |
| PLTK | $755M | — | 59.0× | 0.3× | 8.1% | 72.5% | -7.5% | 50.2% | -10.4% | — | 27 |
| NRDS | $715M | 17.5× | 5.5× | 0.8× | 21.7% | 92.4% | 5.8% | 13.0% | 13.0% | -0.9× | 22 |
| YEXT | $712M | 102.7× | 11.9× | 1.6× | 6.1% | 74.5% | 8.5% | 23.8% | 14.7% | -1.0× | 21 |
| 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 |
| OOMA | $550M | 86.6× | — | 2.0× | 6.5% | 61.1% | 2.4% | 7.0% | 4.3% | — | 35 |
| GRVY | $469M | — | 139.2× | 11.0× | 40.0% | 41.6% | 0.5% | 0.8% | 0.8% | -4.3× | 12 |
| SOHU | $391M | 0.9× | — | 0.7× | -2.4% | 77.5% | 67.4% | 30.8% | 30.8% | — | 5 |
| EGHT | $302M | 209.0× | 14.3× | 0.4× | 2.9% | 64.6% | 0.2% | 1.1% | 0.4% | 6.2× | 18 |
| FIRY | $213M | — | — | 2.0× | 12.5% | 87.5% | -67.4% | -63.0% | -19.2% | — | — |
| FCCN | $182M | 189.0× | — | 8.3× | — | 13.2% | 4.2% | 2.1% | 2.1% | — | — |
| SSTK | $153M | 3.3× | 1.5× | 0.1× | 5.8% | 58.9% | 4.6% | 7.8% | 5.3% | 0.6× | 25 |
| TRAK | $128M | 18.1× | 11.9× | 5.5× | 3.0% | 85.8% | 32.5% | 14.5% | 14.4% | -3.2× | — |
| TCX | $123M | — | 14.7× | 0.3× | 7.7% | 24.1% | -19.4% | 46.2% | -289% | 7.9× | 12 |
Peers = companies sharing IBEX's sector (Services-Computer Processing & Data Preparation) 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.
Top 34 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
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2025, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $44.73 today, the market must believe free cash flow compounds 7.3%/yr for a decade (off $28.5M on the 3-yr avg basis).
On the basis ($22.9M) the requirement is 10.3%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 7.3% is more conservative than its 4-yr track record.
Default is 9.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.01B shares (market data) · net debt -$30.9M
mean 24.0% · volatility σ 27% · implied rate exceeded in 3/4 yrs
Central path = implied 7.3%/yr growth; shaded band = ±1σ (27%) 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 + $14.4M buybacks = $14.4M returned on $31.2M 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 9 years — and what it earned on reinvestment.
A balanced mix of reinvestment and shareholder returns.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 27%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 9 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).
Interest is easily covered by operating profit. Effective rate ~56.4% on $1.7M of debt.
Cash of $32.6M fully covers short-term debt of $882K.
Mostly short-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.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2026
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 | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $644.1M 100.0% | $558.3M 100.0% | $508.6M 100.0% | $523.1M 100.0% | $492.9M 100.0% | $443.4M 100.0% | — | — | — |
| Selling, General & Admin | $113.0M 17.5% | $108.7M 19.5% | $93.1M 18.3% | $88.7M 16.9% | $80.2M 16.3% | $77.0M 17.4% | — | — | — |
| Total Operating Expenses | $589.1M 91.5% | $511.7M 91.7% | $469.1M 92.2% | $482.6M 92.3% | $472.2M 95.8% | $426.3M 96.2% | — | — | — |
| Operating Income | $55.0M 8.5% | $46.6M 8.3% | $39.4M 7.8% | $40.5M 7.7% | $20.6M 4.2% | $17.0M 3.8% | — | — | — |
| Interest Expense | $936K 0.1% | $1.6M 0.3% | $514K 0.1% | $792K 0.2% | $1.3M 0.3% | $1.9M 0.4% | — | — | — |
| Interest & Investment Income | $266K 0.0% | $955K 0.2% | $2.1M 0.4% | $640K 0.1% | $43K 0.0% | — | — | — | — |
| Pretax Income | $54.3M 8.4% | $45.9M 8.2% | $41.0M 8.1% | $40.3M 7.7% | $19.4M 3.9% | $15.2M 3.4% | — | — | — |
| Income Tax Expense | $8.0M 1.2% | $9.1M 1.6% | $7.3M 1.4% | $8.7M 1.7% | -$2.1M -0.4% | $2.1M 0.5% | — | — | — |
| Net Income | $46.3M 7.2% | $36.9M 6.6% | $33.7M 6.6% | $31.6M 6.0% | $21.5M 4.4% | $13.1M 3.0% | $7.8M | $11.0M | -$15.9M |
| Per Share | |||||||||
| EPS (Basic) | $3.45 | $2.51 | $1.90 | $1.74 | $1.18 | $0.74 | — | — | — |
| EPS (Diluted) | $3.13 | $2.36 | $1.84 | $1.67 | $1.15 | $0.71 | — | — | — |
| Weighted Avg Shares (Basic) | 13.4M | 14.7M | 17.7M | 18.2M | 18.2M | 17.6M | — | — | — |
| Weighted Avg Shares (Diluted) | 14.8M | 15.7M | 18.3M | 18.9M | 18.7M | 18.4M | — | — | — |
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.
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 6-yr range · 83th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-yr history.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 27% against ROIC 27% — 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 30.4% — 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
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| SG&A | — | — | 17.4 | 16.3 | 16.9 | 18.3 | 19.5 | 17.5 |
| Operating Income | — | — | 3.8 | 4.2 | 7.7 | 7.8 | 8.3 | 8.5 |
| Income Tax | — | — | 0.5 | -0.4 | 1.7 | 1.4 | 1.6 | 1.2 |
| Net Income | — | — | 3.0 | 4.4 | 6.0 | 6.6 | 6.6 | 7.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on IBEX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 11.77pts above its cost of capital, positive in 5 of the last 5 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | 14.8% | 9.8% (today's — no rate published for this year) | 5.0pts |
| FY2022 | 9.5% | 8.1% | 1.3pts |
| FY2023 | 18.4% | 7.2% | 11.1pts |
| FY2024 | 18.1% | 7.5% | 10.6pts |
| FY2025 | 19.3% | 8.5% | 10.8pts |
| FY2026 | 21.3% | 9.5% | 11.8pts |
| Now | 27.0% | 9.8% | 17.1pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2021 | not reported | 3.8% | 3.0% |
| FY2022 | not reported | 4.2% | 4.4% |
| FY2023 | not reported | 7.7% | 6.0% |
| FY2024 | not reported | 7.8% | 6.6% |
| FY2025 | not reported | 8.3% | 6.6% |
| FY2026 | not reported | 8.5% | 7.2% |
Return on equity (27%) and return on invested capital (27%) are within a couple of points in FY2026, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$12M of goodwill — 6% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
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.
Converts 0.72x of reported profit into cash — adequate, without much margin.
Reported free cash flow is $31M; after share-based compensation it is $23M. The difference is a real cost that the cash flow statement adds back.
Covers interest 41.1x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 58.72x |
| 5% | 55.79x |
| 10% | 52.85x |
| 15% | 49.91x |
| 20% | 46.98x |
| 25% | 44.04x |
| 30% | 41.11x |
| 35% | 38.17x |
| 40% | 35.23x |
| 45% | 32.30x |
| 50% | 29.36x |
| 55% | 26.42x |
| 60% | 23.49x |
Balance sheet at 2026-06-30. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $60,785,000 of the $62,444,000 total — a fixed obligation that does not appear in a headline debt figure.
At $44.73, free cash flow must compound 8.65%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2023 | 62.6% | 8.7% |
| FY2024 | 18.1% | 8.7% |
| FY2025 | 0.9% | 8.7% |
| FY2026 | 14.3% | 8.7% |
The implied rate has been matched or beaten in 3 of the last 4 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $46M | $46M |
| Share-based comp | $8M | $54M |
| Other non-cash & working capital | $5M | $59M |
| Operating cash flow | $59M | $59M |
| Capex | −$28M | $31M |
| Free cash flow | $31M | $31M |
| FCF after SBC | $23M | $23M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2022 | 11.2% | not reported | not reported |
| FY2023 | 6.1% | 14.5% | 8.4 points |
| FY2024 | -2.8% | 13.9% | 16.7 points |
| FY2025 | 9.8% | 19.1% | 9.3 points |
| FY2026 | 15.4% | 7.0% | -8.4 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2020 | not reported | not reported | not reported | not reported |
| FY2021 | not reported | not reported | not reported | not reported |
| FY2022 | 55.9 days | not reported | not reported | not reported |
| FY2023 | 60.3 days | not reported | not reported | not reported |
| FY2024 | 70.6 days | not reported | not reported | not reported |
| FY2025 | 76.6 days | not reported | not reported | not reported |
| FY2026 | 71 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | not reported |
| FY2021 | -1.1 percent |
| FY2022 | -6.3 percent |
| FY2023 | -3.5 percent |
| FY2024 | -0.8 percent |
| FY2025 | -3.2 percent |
| FY2026 | -4.1 percent |
Below the line, the asset base is being consumed faster than it is replaced.
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.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
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 (FY2026) 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.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-07 | Darwal Michael Joseph Chief AI & Digital Officer | Other | 702 | $43.16 | $30k |
| 2026-09-30 | 2 co-filers Chief Financial Officer | Grant | 4,196 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Executive Officer | Grant | 14,524 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Sales/Marketing Officer | Grant | 3,228 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief AI & Digital Officer | Grant | 2,348 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Legal Officer | Grant | 3,228 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Sales and CS Officer | Grant | 3,228 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Operating Officer | Grant | 3,228 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief People Officer | Grant | 2,348 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Technology Officer | Grant | 9,038 | $0.00 | $0 |
| 2026-09-30 | 2 co-filers Chief Sales and CS Officer | Tax withholding | 1,413 | $43.26 | $61k |
| 2026-09-30 | 2 co-filers Chief Executive Officer | Tax withholding | 6,587 | $43.26 | $285k |
| 2026-09-30 | 2 co-filers Chief Sales/Marketing Officer | Tax withholding | 1,271 | $43.26 | $55k |
| 2026-09-30 | 2 co-filers Chief Financial Officer | Tax withholding | 1,843 | $43.26 | $80k |
| 2026-09-30 | 2 co-filers Chief AI & Digital Officer | Tax withholding | 843 | $43.26 | $36k |
| 2026-09-30 | 2 co-filers Chief Technology Officer | Tax withholding | 2,599 | $43.26 | $112k |
| 2026-09-30 | 2 co-filers Chief Legal Officer | Tax withholding | 1,159 | $43.26 | $50k |
| 2026-09-30 | 2 co-filers Chief Operating Officer | Tax withholding | 1,590 | $43.26 | $69k |
| 2026-09-30 | 2 co-filers Chief People Officer | Tax withholding | 1,028 | $43.26 | $44k |
| 2026-09-25 | Dechant Robert Thomas Chief Executive Officer | 10b5-1 plan sale | 5,000 | $45.02 | $225k |
| 2026-09-18 | Greenwald Taylor C Chief Financial Officer | Tax withholding | 3,293 | $40.20 | $132k |
| 2026-09-16 | Inson Paul Joseph Chief People Officer | Open-market sale | 2,500 | $40.07 | $100k |
| 2026-09-16 | 2 co-filers Chief Legal Officer | Open-market sale | 2,376 | $39.34 | $93k |
| 2026-09-15 | Ballou-Aares Daniella Director | Open-market sale | 1,500 | $40.29 | $60k |
| 2026-09-15 | Darwal Michael Joseph Chief AI & Digital Officer | Tax withholding5d late | 270 | $40.28 | $11k |
| 2026-09-15 | Zhuang Mingzhe Director | Open-market sale | 5,522 | $40.10 | $221k |
| 2026-09-15 | Casteel Julie K Chief Sales/Marketing Officer | Open-market sale | 17,474 | $40.41 | $706k |
| 2026-09-15 | 2 co-filers Chief Legal Officer | Open-market sale | 7,500 | $40.30 | $302k |
| 2026-09-15 | Dechant Robert Thomas Chief Executive Officer | Open-market sale | 25,000 | $39.99 | $1000k |
| 2026-09-14 | Inson Paul Joseph Chief People Officer | 10b5-1 plan sale | 2,274 | $40.00 | $91k |
| 2026-09-14 | Afdahl David Martin Chief Operating Officer | 10b5-1 plan sale | 10,819 | $40.07 | $433k |
| 2026-09-08 | Afdahl David Martin Chief Operating Officer | 10b5-1 plan sale | 17,500 | $37.09 | $649k |
| 2026-07-31 | Mcginnis Patrick Director | Grant | 1,252 | $0.00 | $0 |
| 2026-07-31 | 2 co-filers Chief People Officer | Grant | 2,405 | $0.00 | $0 |
| 2026-07-31 | 2 co-filers Chief Operating Officer | Grant | 2,646 | $0.00 | $0 |
| 2026-07-31 | 2 co-filers Chief Sales and CS Officer | Grant | 1,954 | $0.00 | $0 |
| 2026-07-31 | Batungbacal Karen Director | Grant | 1,252 | $0.00 | $0 |
| 2026-07-31 | Zhuang Mingzhe Director | Grant | 1,252 | $0.00 | $0 |
| 2026-07-31 | 2 co-filers Chief Sales/Marketing Officer | Grant | 2,646 | $0.00 | $0 |
| 2026-07-31 | Ballou-Aares Daniella Director | Grant | 1,252 | $0.00 | $0 |
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.