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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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Ranked against 14 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXPE | $34.3B | 29.1× | 12.7× | 2.3× | 7.6% | — | 8.8% | 101% | 17.4% | 0.3× | 328 |
| EXPD | $25.8B | 33.4× | 22.1× | 2.3× | 4.4% | — | 7.3% | 34.4% | 34.4% | -1.2× | 274 |
| XPO | $22.2B | 71.8× | 22.4× | 2.7× | 1.1% | — | 3.9% | 17.0% | 6.2% | 2.6× | 173 |
| CHRW | $14.4B | 25.8× | 18.5× | 0.9× | -8.4% | — | 3.6% | 31.8% | 20.0% | 1.1× | 209 |
| GATX | $6.4B | 19.9× | 16.2× | 3.7× | 9.8% | — | 19.2% | 12.1% | 2.2% | 10.5× | 91 |
| GXO | $5.8B | 179.5× | 11.4× | 0.4× | 12.5% | — | 0.2% | 1.1% | 0.5% | 3.1× | 104 |
| GBTG | $5.0B | 43.2× | 18.5× | 1.8× | 12.2% | — | 4.1% | 6.9% | 3.7% | 3.1× | 1 |
| RXO | $4.5B | — | 133.0× | 0.8× | 26.2% | — | -1.7% | -6.5% | -5.1% | 10.5× | 60 |
| BCO | $4.2B | 21.9× | 7.5× | 0.8× | 5.0% | 25.8% | 3.8% | 71.9% | 4.6% | 2.6× | 61 |
| LIND | $2.5B | — | 26.4× | 3.2× | 19.6% | 45.8% | -3.9% | 10.4% | -7.9% | 3.8× | 42 |
| HUBG | $1.6B | 15.7× | 5.4× | 0.4× | -6.1% | — | 2.6% | 6.3% | 5.4% | 0.5× | 45 |
| FWRD | $595M | — | 11.5× | 0.2× | 0.8% | — | -4.3% | -95.1% | -6.0% | 8.4× | 21 |
| RLGT | $427M | 23.3× | 12.7× | 0.5× | 3.5% | — | 2.0% | 7.8% | 7.8% | -0.8× | 22 |
| VRRM | $426M | 3.3× | 3.9× | 3.2× | 14.6% | — | — | 46.6% | 10.3% | 2.7× | 45 |
| TOUR | $51M | 471.0× | 9.3× | 0.6× | 17.5% | 58.0% | 5.4% | 3.0% | 3.0% | -12.7× | — |
Peers = companies sharing TOUR's sector (Transportation 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.
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 $4.71 today, the market must believe free cash flow compounds -45.4%/yr for a decade (off $21.5M on the 3-yr avg basis).
On the basis ($19.7M) the requirement is -43.1%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
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 -$29.6M
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 -189.4% · volatility σ 110% · implied rate exceeded in 0/3 yrs
Central path = implied -45.4%/yr growth; shaded band = ±1σ (110%) 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.
Free-cash-flow coverage unavailable. Last year: $4.3M dividends + $7.3M buybacks = $11.6M returned on -$16.6M FCF.
1 consecutive years of dividend increases.
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 cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 3%. 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 2026-10-30
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. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82.6M 100.0% | $513.6M 100.0% | $441.3M 100.0% | $183.6M 100.0% | $426.3M 100.0% | $450.3M 100.0% | $2.28B 100.0% | $325.8M 100.0% | $2.19B 100.0% | $10.53B 100.0% |
| Cost of Revenue | $34.7M 42.0% | $155.6M 30.3% | $147.6M 33.4% | $94.1M 51.2% | $254.8M 59.8% | $237.1M 52.7% | $1.20B 52.6% | $1.07B 326.9% | $1.02B 46.7% | $9.89B 93.9% |
| Cost of Services | — | — | — | — | — | — | — | — | $157.4M 7.2% | $9.89B 93.9% |
| Gross Profit | $47.9M 58.0% | $358.0M 69.7% | $293.7M 66.6% | $89.6M 48.8% | $171.5M 40.2% | $213.2M 47.3% | $1.08B 47.4% | $1.18B 360.7% | $1.17B 53.3% | $639.2M 6.1% |
| Research & Development | $8.4M 10.2% | $52.7M 10.3% | $57.0M 12.9% | $50.8M 27.7% | $54.6M 12.8% | $100.5M 22.3% | $303.6M 13.3% | $315.2M 96.7% | $541.1M 24.7% | $601.4M 5.7% |
| Selling, General & Admin | $10.3M 12.4% | $87.7M 17.1% | $113.2M 25.7% | $108.9M 59.3% | $174.0M 40.8% | $1.11B 246.4% | $749.4M 32.9% | $487.4M 149.6% | $637.8M 29.1% | $658.8M 6.3% |
| Total Operating Expenses | $46.3M 56.0% | $294.8M 57.4% | $395.6M 89.6% | $299.8M 163.3% | $353.1M 82.8% | $1.55B 345.1% | $1.95B 85.6% | $1.52B 467.8% | $2.05B 93.6% | $3.14B 29.8% |
| Operating Income | $1.6M 1.9% | $63.3M 12.3% | -$101.9M -23.1% | -$210.2M -114.5% | -$181.5M -42.6% | -$1.34B -297.8% | -$870.8M -38.2% | -$349.0M -107.1% | -$883.4M -40.3% | -$2.50B -23.7% |
| Interest Expense | $289K 0.3% | $3.3M 0.6% | $496K 0.1% | $4.9M 2.7% | $7.5M 1.8% | $32.3M 7.2% | $34.1M 1.5% | $7.9M 2.4% | — | — |
| Interest & Investment Income | $3.7M 4.5% | $19.9M 3.9% | $5.7M 1.3% | $27.2M 14.8% | $50.0M 11.7% | $3.5M 0.8% | $156.9M 6.9% | $152.9M 46.9% | $130.3M 5.9% | $87.3M 0.8% |
| Other Income (Expense), net | -$93K -0.1% | $10.1M 2.0% | $7.1M 1.6% | $6.1M 3.3% | $2.9M 0.7% | -$253K -0.1% | $18.5M 0.8% | $16.5M 5.1% | -$121K -0.0% | -$2.6M -0.0% |
| Pretax Income | -$4.4M -5.3% | $11.4M 2.2% | -$99.1M -22.5% | -$204.0M -111.1% | -$129.1M -30.3% | -$1.35B -300.1% | -$730.7M -32.0% | -$199.2M -61.1% | -$755.7M -34.5% | -$2.42B -23.0% |
| Income Tax Expense | $204K 0.2% | $837K 0.2% | $1.4M 0.3% | -$731K -0.4% | $130K 0.0% | -$6.6M -1.5% | $949K 0.0% | $153K 0.0% | $15.6M 0.7% | -$1.7M -0.0% |
| Net Income | $4.5M 5.4% | $77.2M 15.0% | -$99.3M -22.5% | -$193.4M -105.3% | -$121.5M -28.5% | -$1.31B -290.5% | -$694.6M -30.5% | -$185.5M -56.9% | -$767.3M -35.0% | -$2.41B -22.9% |
| Per Share | ||||||||||
| EPS (Basic) | $0.01 | $0.21 | -$0.27 | -$0.52 | -$0.33 | -$3.53 | -$1.89 | — | — | — |
| EPS (Diluted) | $0.01 | $0.21 | -$0.27 | -$0.52 | -$0.33 | -$3.53 | -$1.89 | — | — | — |
| Weighted Avg Shares (Basic) | 340.7M | 361.5M | 371.5M | 371.2M | 370.9M | 370.2M | 369.5M | — | — | — |
| Weighted Avg Shares (Diluted) | 343.0M | 363.7M | 371.5M | 371.2M | 370.9M | 370.2M | 369.5M | — | — | — |
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 $53.4M covers all $8.7M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2023-12-31 (20-F).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~5780.0% on $5K of debt.
Cash of $29.6M fully covers short-term debt of $5K.
Mostly short-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 2026-10-30
Where each multiple sits in its own 12-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 12-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 3% against ROIC 3% — 0% 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
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 | 326.9 | 52.6 | 52.7 | 59.8 | 51.2 | 33.4 | 30.3 | 42.0 |
| Gross Profit | 360.7 | 47.4 | 47.3 | 40.2 | 48.8 | 66.6 | 69.7 | 58.0 |
| R&D | 96.7 | 13.3 | 22.3 | 12.8 | 27.7 | 12.9 | 10.3 | 10.2 |
| SG&A | 149.6 | 32.9 | 246.4 | 40.8 | 59.3 | 25.7 | 17.1 | 12.4 |
| Operating Income | -107.1 | -38.2 | -297.8 | -42.6 | -114.5 | -23.1 | 12.3 | 1.9 |
| Income Tax | 0.0 | 0.0 | -1.5 | 0.0 | -0.4 | 0.3 | 0.2 | 0.2 |
| Net Income | -56.9 | -30.5 | -290.5 | -28.5 | -105.3 | -22.5 | 15.0 | 5.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TOUR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -8.58pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | -28.9% | 9.8% (today's — no rate published for this year) | -38.8pts |
| FY2020 | -94.4% | 9.8% (today's — no rate published for this year) | -104.2pts |
| FY2021 | -16.7% | 10.2% | -26.8pts |
| FY2022 | -19.2% | 10.1% | -29.3pts |
| FY2023 | -13.8% | 9.2% | -23.0pts |
| FY2024 | 9.3% | 19.0% | -9.7pts |
| FY2025 | 1.2% | 9.5% | -8.2pts |
| Now | 3.0% | 9.8% | -6.8pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 5.9% | -23.9% | -23.0% |
| FY2017 | 53.3% | -40.3% | -35.0% |
| FY2018 | 52.5% | -15.6% | -8.3% |
| FY2019 | 47.4% | -38.2% | -30.4% |
| FY2020 | 47.3% | -297.8% | -290.5% |
| FY2021 | 40.2% | -42.6% | -28.5% |
| FY2022 | 48.8% | -114.5% | -105.3% |
| FY2023 | 66.6% | -23.1% | -22.5% |
| FY2024 | 69.7% | 12.3% | 15.0% |
| FY2025 | 58.0% | 1.9% | 5.4% |
Return on equity (3%) and return on invested capital (3%) 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.
The spread was positive in only 0 of the last 5 years.
Fewer than three profitable years with a cash flow statement, so cash conversion cannot be judged.
No material counter-signal in the checked set: FCF / net income over 3 and 5 years, Sloan accruals, SBC as a share of revenue, SBC as a share of operating cash flow, SBC-adjusted free cash flow, free cash flow per diluted share, buybacks against SBC issued, capex vs depreciation, free cash flow against revenue, share count since the first year on file, cash conversion cycle (DSO, DIO, DPO), receivables growth against revenue growth.
Missing from our data, so excluded from this answer: 3 years of cash flow.
Covers interest 3.9x under stress — adequate, without much room.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 5.56x |
| 5% | 5.28x |
| 10% | 5.00x |
| 15% | 4.73x |
| 20% | 4.45x |
| 25% | 4.17x |
| 30% | 3.89x |
| 35% | 3.61x |
| 40% | 3.34x |
| 45% | 3.06x |
| 50% | 2.78x |
| 55% | 2.50x |
| 60% | 2.22x |
This schedule comes from a filing dated 2023-12-31, 1035 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2023-12-31 (20-F); cash from the 2023-12-31 balance sheet; FCF from FY2023.
Balance sheet at 2023-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Coverage is comfortable at 5.6x today but falls to 3.9x after a 30% EBITDA decline — the cushion is earnings, not liquidity.
At $4.71, free cash flow must compound -44.62%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2024 | −63.2% | −44.6% |
| FY2025 | −243.6% | −44.6% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. No TTM point: the four most recent quarters do not form a usable window.
The implied rate of -44.62% has not been achieved in any of the last 2 years.