Loading institutional data...
Loading institutional data...
Insufficient data to determine institutional momentum.
Data as of Q3 2026
Loading snapshot...
Loading financials...
Loading valuation...
Loading analysis...
Loading dividends & returns...
Loading capital allocation...
Loading debt & leverage...
Loading performance...
Loading peer comparison...
Loading insider activity...
Loading ownership map...
Loading crowding analysis...
Loading conviction analysis...
Loading buy/sell flow...
Loading ownership trends...
Loading top holders...
Loading top holders...
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.
Top 10 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
A reverse discounted cash flow is not shown for a company with no positive EBITDA.
No positive EBITDA in the recent record, so there is no return on capital to compare against its cost.
Classified from the filings: EBITDA negative in each of the last 2 years.
Ranked against 39 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EGHT | $328M | 227.0× | 15.0× | 0.5× | 2.9% | 64.6% | 0.2% | 1.1% | 0.4% | 6.2× | 18 |
| FVRR | $325M | 16.2× | 14.8× | 0.8× | 10.1% | 81.6% | 4.9% | 5.1% | 5.1% | -9.3× | 23 |
| IIIV | $312M | 24.0× | 7.7× | 1.5× | 11.5% | — | 8.4% | 4.6% | 4.6% | -2.1× | 16 |
| TBI | $297M | — | — | 0.2× | 3.1% | 22.8% | -3.0% | -17.5% | -14.1% | — | 17 |
| PSFE | $291M | — | 7.6× | 0.2× | -0.2% | 56.4% | -10.7% | -27.9% | -5.6% | 6.8× | — |
| CMRC | $285M | — | — | 0.8× | 2.8% | 78.7% | -5.6% | -49.1% | -9.8% | — | 17 |
| DSP | $283M | 37.1× | 3.0× | 0.8× | 19.0% | 45.8% | 2.4% | 10.2% | 10.2% | -6.2× | 20 |
| SMRT | $264M | — | — | 1.7× | -12.9% | 32.7% | -39.8% | -26.1% | -26.1% | — | 11 |
| IMXI | $260M | 8.0× | 3.9× | 0.4× | -7.7% | — | 5.4% | 20.3% | 9.2% | 0.4× | 22 |
| RCMT | $255M | 16.8× | 9.3× | 0.8× | 14.7% | 27.5% | 5.1% | 35.5% | 35.5% | -0.1× | 15 |
| ANGI | $244M | 6.4× | 4.0× | 0.2× | -13.0% | 95.4% | 4.3% | 4.7% | 3.1% | 1.8× | 35 |
| ALIT | $242M | — | — | 0.1× | -3.0% | 33.8% | -137% | -297% | -102% | — | — |
| CNDT | $241M | — | — | 0.1× | -9.4% | 18.1% | -5.6% | -24.8% | -12.4% | — | 29 |
| XNET | $232M | 1.1× | 12.7× | 0.5× | 42.5% | 47.2% | — | 76.3% | 72.5% | -7.3× | 7 |
| KLTR | $229M | — | — | 1.3× | 1.2% | 70.6% | -6.7% | -191% | -18.7% | — | 12 |
| SVCO | $228M | — | — | 3.6× | 5.7% | 78.3% | -65.3% | -54.9% | -54.9% | — | 16 |
| HQI | $226M | 36.2× | 23.9× | 7.4× | -11.4% | — | 20.7% | 9.3% | 9.3% | -0.4× | 11 |
| FIRY | $223M | — | — | 2.1× | 12.5% | 87.5% | -67.4% | -63.0% | -19.2% | — | — |
| EXFY | $222M | — | — | 1.6× | 2.1% | 50.3% | -15.1% | -16.1% | -16.1% | — | 11 |
| DHX | $210M | — | 82.6× | 1.6× | -9.9% | 84.7% | -10.6% | -14.3% | -10.9% | 9.4× | 7 |
| RDNW | $203M | — | 43.4× | 0.2× | -10.5% | 27.5% | -4.8% | 419% | -26.9% | — | 8 |
| DUOT | $203M | — | — | 7.5× | 271% | 29.2% | -36.4% | -20.3% | -20.3% | — | 10 |
| DMRC | $198M | — | — | 5.8× | -11.7% | 61.6% | -95.3% | -80.3% | -80.3% | — | — |
| UIS | $194M | — | 4.8× | 0.1× | -2.9% | 28.2% | -17.4% | 120% | -78.9% | 2.9× | 23 |
| FCCN | $191M | 198.5× | — | 8.8× | — | 13.2% | 4.2% | 2.1% | 2.1% | — | — |
| TTEC | $77M | — | — | 0.0× | -3.2% | — | -9.0% | -170% | -170% | — | 9 |
Peers = companies sharing TTEC's sector (Services-Help Supply 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.
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 $83.0M 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.
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.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -170%. 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.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.14B 100.0% | $2.21B 100.0% | $2.46B 100.0% | $2.44B 100.0% | $2.27B 100.0% | $1.95B 100.0% | $1.64B 100.0% | $1.51B 100.0% | $1.48B 100.0% | $1.28B 100.0% |
| Cost of Services | — | — | — | — | — | — | — | $1.16B 76.7% | $1.11B 75.1% | $941.6M 73.8% |
| Selling, General & Admin | $280.3M 13.1% | $293.0M 13.3% | $290.9M 11.8% | $287.4M 11.8% | $240.0M 10.6% | $203.9M 10.5% | $202.5M 12.3% | $182.4M 12.1% | $182.3M 12.3% | $175.8M 13.8% |
| Total Operating Expenses | $2.25B 105.5% | $2.38B 107.9% | $2.34B 95.2% | $2.28B 93.1% | $2.06B 90.4% | $1.74B 89.5% | $1.52B 92.5% | $1.42B 93.9% | $1.38B 93.2% | $1.22B 95.9% |
| Operating Income | -$117.1M -5.5% | -$173.5M -7.9% | $118.0M 4.8% | $168.5M 6.9% | $217.2M 9.6% | $204.7M 10.5% | $123.7M 7.5% | $92.1M 6.1% | $100.5M 6.8% | $52.8M 4.1% |
| Interest Expense | $71.7M 3.4% | $84.3M 3.8% | $78.3M 3.2% | $36.1M 1.5% | $12.4M 0.5% | $17.5M 0.9% | $19.1M 1.2% | $28.7M 1.9% | $13.7M 0.9% | $7.9M 0.6% |
| Interest & Investment Income | $9.4M 0.4% | $2.7M 0.1% | $5.2M 0.2% | $1.8M 0.1% | $761K 0.0% | $1.7M 0.1% | $1.9M 0.1% | $4.5M 0.3% | $2.8M 0.2% | $1.2M 0.1% |
| Other Income (Expense), net | -$53.1M -2.5% | -$63.0M -2.9% | -$77.3M -3.1% | -$24.1M -1.0% | -$9.3M -0.4% | -$34.4M -1.8% | -$13.3M -0.8% | -$35.8M -2.4% | -$11.6M -0.8% | -$2.5M -0.2% |
| Pretax Income | -$170.2M -8.0% | -$236.5M -10.7% | $40.7M 1.7% | $144.4M 5.9% | $207.9M 9.1% | $170.3M 8.7% | $110.4M 6.7% | $56.2M 3.7% | $88.9M 6.0% | $50.3M 3.9% |
| Income Tax Expense | $14.8M 0.7% | $74.1M 3.4% | $22.5M 0.9% | $27.1M 1.1% | $49.7M 2.2% | $40.9M 2.1% | $25.7M 1.6% | $16.5M 1.1% | $78.1M 5.3% | $12.9M 1.0% |
| Net Income | -$185.1M -8.7% | -$310.6M -14.1% | $18.3M 0.7% | $103.2M 4.2% | $141.0M 6.2% | $118.6M 6.1% | $77.2M 4.7% | $35.8M 2.4% | $7.3M 0.5% | $33.7M 2.6% |
| Per Share | ||||||||||
| EPS (Basic) | -$3.99 | -$6.74 | $0.18 | $2.19 | $3.01 | $2.54 | $1.66 | $0.78 | $0.16 | $0.71 |
| EPS (Diluted) | -$3.99 | -$6.74 | $0.18 | $2.18 | $2.97 | $2.52 | $1.65 | $0.77 | $0.16 | $0.71 |
| Weighted Avg Shares (Basic) | 48.2M | 47.6M | 47.3M | 47.1M | 46.9M | 46.6M | 46.4M | 46.1M | 45.8M | 47.4M |
| Weighted Avg Shares (Diluted) | 48.2M | 47.6M | 47.4M | 47.3M | 47.4M | 47.0M | 46.8M | 46.4M | 46.4M | 47.7M |
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.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
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.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-04 | 3 co-filers CHIEF FINANCIAL OFFICER | Option exercise | 30,069 | $0.00 | $0 |
| 2026-10-04 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 20,619 | $0.00 | $0 |
| 2026-10-04 | 3 co-filers CEO, TTEC Engage | Option exercise | 20,619 | $0.00 | $0 |
| 2026-10-04 | 3 co-filers Chief Legal & Risk Officer | Tax withholding |
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.
EOD close · as of 2026-10-30
Earns -69.93pts against its cost of capital — capital is being consumed, not created.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | 4.1% | 2.6% |
| FY2017 | not reported | 6.8% | 0.5% |
| FY2018 | not reported | 6.1% | 2.4% |
| FY2019 | not reported | 7.5% | 4.7% |
| FY2020 | not reported | 10.5% | 6.1% |
| FY2021 | not reported | 9.6% | 6.2% |
| FY2022 | not reported | 6.9% | 4.2% |
| FY2023 | not reported | 4.8% | 0.3% |
| FY2024 | not reported | -7.9% | -14.5% |
| FY2025 | not reported | -5.5% | -9.0% |
Net margin is -900.68% against 422.47% 3 years ago — a step down the business has not recovered, whatever the spread says today.
| 5,928 |
| $1.38 |
| $8k |
| 2026-10-04 | 3 co-filers CHIEF FINANCIAL OFFICER | Tax withholding | 11,833 | $1.38 | $16k |
| 2026-10-04 | 3 co-filers CEO, TTEC Engage | Tax withholding | 7,434 | $1.38 | $10k |
| 2026-10-04 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 20,619 | $0.00 | — |
| 2026-10-04 | 3 co-filers CEO, TTEC Engage | Option exercise | 20,619 | $0.00 | — |
| 2026-10-04 | 3 co-filers CHIEF FINANCIAL OFFICER | Option exercise | 30,069 | $0.00 | — |
| 2026-08-05 | Abou John P. CEO, TTEC Engage | Grant11d late | 300,000 | $0.00 | — |
| 2026-07-24 | Brown Christopher (John) President, TTEC Digital | Grant23d late | 75,000 | $0.00 | — |
| 2026-07-24 | Wagers Kenneth R Iii CHIEF FINANCIAL OFFICER | Grant23d late | 100,000 | $0.00 | — |
| 2026-07-24 | Mclean Margaret B Chief Legal & Risk Officer | Grant23d late | 65,000 | $0.00 | — |
| 2026-07-17 | 3 co-filers President, TTEC Engage | Option exercise | 19,481 | $0.00 | $0 |
| 2026-07-17 | 3 co-filers President, TTEC Engage | Tax withholding | 7,023 | $2.16 | $15k |
| 2026-07-17 | 3 co-filers President, TTEC Engage | Option exercise | 19,481 | $0.00 | — |
| 2026-07-01 | 3 co-filers President, TTEC Digital | Option exercise | 752 | $0.00 | $0 |
| 2026-07-01 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 844 | $0.00 | $0 |
| 2026-07-01 | 3 co-filers President, TTEC Digital | Tax withholding | 217 | $2.10 | $456 |
| 2026-07-01 | 3 co-filers Chief Legal & Risk Officer | Tax withholding | 243 | $2.10 | $510 |
| 2026-07-01 | 3 co-filers President, TTEC Digital | Option exercise | 752 | $0.00 | — |
| 2026-07-01 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 844 | $0.00 | — |
| 2026-05-30 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 9,383 | $0.00 | $0 |
| 2026-05-30 | 3 co-filers President, TTEC Digital | Option exercise | 8,096 | $0.00 | $0 |
| 2026-05-30 | 3 co-filers CHIEF FINANCIAL OFFICER | Option exercise | 12,064 | $0.00 | $0 |
| 2026-05-30 | 3 co-filers President, TTEC Digital | Tax withholding | 2,328 | $2.72 | $6k |
| 2026-05-30 | 3 co-filers CHIEF FINANCIAL OFFICER | Tax withholding | 4,611 | $2.72 | $13k |
| 2026-05-30 | 3 co-filers Chief Legal & Risk Officer | Tax withholding | 2,698 | $2.72 | $7k |
| 2026-05-30 | 3 co-filers President, TTEC Digital | Option exercise | 8,096 | $0.00 | — |
| 2026-05-30 | 3 co-filers Chief Legal & Risk Officer | Option exercise | 9,383 | $0.00 | — |
| 2026-05-30 | 3 co-filers CHIEF FINANCIAL OFFICER | Option exercise | 12,064 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 2 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 2 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | $0 |
| 2026-05-21 | 2 co-filers Group filing | Grant | 70,896 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | — |
| 2026-05-21 | 3 co-filers Group filing | Option exercise | 36,965 | $0.00 | — |
Where each multiple sits in its own 14-yr range · 0th 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 -170% against ROIC -170% — 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 -101.0% — 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
High operating leverage: profit moved 10.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| SG&A | 12.1 | 12.3 | 10.5 | 10.6 | 11.8 | 11.8 | 13.3 | 13.1 |
| Operating Income | 6.1 | 7.5 | 10.5 | 9.6 | 6.9 | 4.8 | -7.9 | -5.5 |
| Income Tax | 1.1 | 1.6 | 2.1 | 2.2 | 1.1 | 0.9 | 3.4 | 0.7 |
| Net Income | 2.4 | 4.7 | 6.1 | 6.2 | 4.2 | 0.7 | -14.1 | -8.7 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TTEC: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 15.2% | 34.1% (today's — no rate published for this year) | -19.0pts |
| FY2020 | 27.7% | 34.1% (today's — no rate published for this year) | -6.4pts |
| FY2021 | 28.1% | 8.3% | 19.8pts |
| FY2022 | 20.3% | 18.0% | 2.3pts |
| FY2023 | 13.1% | 26.6% | -13.6pts |
| FY2024 | -36.3% | 35.4% | -71.7pts |
| FY2025 | -48.4% | 32.6% | -81.0pts |
| Now | -170.5% | 34.1% | -204.6pts |
Converts 3.02x of reported profit into free cash flow over 5 years, with accruals negative.
| Step | Amount | Running total |
|---|---|---|
| Net income | −$192M | −$192M |
| Share-based comp | $13M | −$179M |
| Other non-cash & working capital | $300M | $121M |
| Operating cash flow | $121M | $121M |
| Capex | −$38M | $83M |
| Free cash flow | $83M | $83M |
| FCF after SBC | $70M | $70M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 18.6% | 14.3% | -4.3 points |
| FY2021 | 16.6% | -5.6% | -22.2 points |
| FY2022 | 7.5% | 16.9% | 9.4 points |
| FY2023 | 0.8% | -5.5% | -6.2 points |
| FY2024 | -10.4% | 14.6% | 25.0 points |
| FY2025 | -3.2% | 0.7% | 3.9 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 73.5 days | not reported | not reported | not reported |
| FY2020 | 70.9 days | not reported | not reported | not reported |
| FY2021 | 57.4 days | not reported | not reported | not reported |
| FY2022 | 62.4 days | not reported | not reported | not reported |
| FY2023 | 58.5 days | not reported | not reported | not reported |
| FY2024 | 74.8 days | not reported | not reported | not reported |
| FY2025 | 77.9 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -11.7 percent |
| FY2020 | -10.1 percent |
| FY2021 | -5.5 percent |
| FY2022 | -1.6 percent |
| FY2023 | -6.2 percent |
| FY2024 | -14.9 percent |
| FY2025 | -20.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 2 consecutive years to the latest.
Reported free cash flow is $83M; after share-based compensation it is $70M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda.
At $1.57, free cash flow must compound -41.89%/yr for 10 years. It has done -11.88%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 19.7% | −41.9% |
| FY2021 | −10.0% | −41.9% |
| FY2022 | −72.2% | −41.9% |
| FY2023 | 45.0% | −41.9% |
| FY2024 | −235.2% | −41.9% |
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. TTM basis: TTM.
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
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.
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 (FY2025) 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.