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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 15 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK | $98.2B | 19.9× | 11.1× | 3.1× | 5.6% | — | 15.7% | 9.6% | 3.7% | 5.0× | 841 |
| EXC | $47.3B | — | 11.6× | 1.9× | 5.3% | — | 11.4% | 9.6% | 3.6% | 5.8× | 374 |
| ED | $42.7B | 20.5× | — | 2.5× | 10.9% | — | 12.0% | 8.4% | 4.0% | — | 428 |
| PCG | $39.7B | 11.2× | — | 1.6× | 2.1% | — | 10.8% | 8.3% | 2.9% | — | 198 |
| WEC | $37.4B | 23.8× | 15.5× | 3.8× | 14.0% | 66.7% | 15.9% | 11.1% | 4.5% | 5.5× | 402 |
| PEG | $36.7B | 17.4× | — | 3.0× | 18.3% | — | 17.3% | 12.4% | 5.3% | — | 367 |
| AEE | $30.5B | 20.6× | — | 3.5× | 15.4% | — | 16.6% | 10.9% | 4.5% | — | 234 |
| CMS | $21.8B | 19.7× | 13.2× | 2.5× | 13.6% | — | 12.5% | 11.7% | 3.8% | 6.0× | 215 |
| NI | $21.5B | 22.9× | 7.4× | 3.3× | 23.5% | — | 14.3% | 9.8% | 9.1% | 0.2× | 208 |
| EVRG | $19.7B | 23.3× | 13.3× | 3.3× | 2.0% | — | 14.4% | 8.4% | 3.6% | 5.4× | 258 |
| LNT | $18.3B | 22.5× | 15.9× | 4.2× | 9.6% | 85.7% | 18.6% | 11.0% | 4.2% | 6.1× | 225 |
| NWE | $4.9B | 26.9× | 14.2× | 3.0× | 6.4% | — | 11.2% | 6.3% | 2.9% | 5.8× | 73 |
| AVA | $3.1B | 15.7× | 5.5× | 1.6× | 1.3% | — | 9.8% | 7.1% | 6.2% | 0.6× | 80 |
| UTL | $1.0B | 18.5× | — | 1.9× | 8.3% | — | 9.4% | 8.2% | 3.4% | — | 48 |
| GNE | $431M | 18.2× | 8.2× | 0.9× | 18.1% | 24.8% | 4.8% | 9.6% | 9.2% | -6.8× | 15 |
| VIASP | — | — | — | — | 16.2% | 30.6% | 4.1% | 28.3% | 10.2% | 1.0× | — |
Peers = companies sharing VIASP's sector (Electric & Other Services Combined) 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.
The dividend is comfortably covered — only 25% of free cash flow, leaving room to grow it and fund buybacks. Last year: $9.9M dividends + $0 buybacks = $9.9M returned on $39.1M FCF.
1 consecutive years of dividend increases · 18%/yr.
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: 10%. 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.
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 ~6.3% on $120.0M of debt.
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.
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 | $463.5M 100.0% | $398.9M 100.0% | $435.2M 100.0% | $460.5M 100.0% | $393.5M 100.0% | $554.9M 100.0% | $813.7M 100.0% | $1.01B 100.0% | $798.1M 100.0% | $546.7M 100.0% |
| Cost of Revenue | $321.8M 69.4% | $230.8M 57.9% | $310.7M 71.4% | $357.1M 77.5% | $323.2M 82.1% | $344.6M 62.1% | $615.2M 75.6% | $845.5M 84.1% | $552.2M 69.2% | $344.9M 63.1% |
| Gross Profit | $141.6M 30.6% | $168.1M 42.1% | $124.4M 28.6% | $103.4M 22.5% | $70.3M 17.9% | $210.3M 37.9% | — | — | — | — |
| Selling, General & Admin | $66.3M 14.3% | $74.5M 18.7% | $68.9M 15.8% | $61.9M 13.4% | $44.3M 11.3% | $90.7M 16.4% | $133.5M 16.4% | $111.4M 11.1% | $101.1M 12.7% | $85.0M 15.5% |
| Total Operating Expenses | $409.9M 88.4% | $314.7M 78.9% | $388.7M 89.3% | $435.7M 94.6% | $389.1M 98.9% | $466.1M 84.0% | $789.7M 97.1% | $1.01B 100.4% | $695.6M 87.2% | $462.7M 84.6% |
| Operating Income | $53.5M 11.6% | $84.2M 21.1% | $46.5M 10.7% | $24.8M 5.4% | $4.4M 1.1% | $88.8M 16.0% | $24.0M 2.9% | -$3.7M -0.4% | $102.4M 12.8% | $84.0M 15.4% |
| Interest Expense | $7.5M 1.6% | $6.9M 1.7% | $9.3M 2.1% | $7.2M 1.6% | $4.9M 1.3% | $5.3M 0.9% | $8.6M 1.1% | $9.4M 0.9% | $11.1M 1.4% | $8.9M 1.6% |
| Other Income (Expense), net | -$7.4M -1.6% | -$6.8M -1.7% | -$9.2M -2.1% | -$7.1M -1.5% | -$4.6M -1.2% | -$4.8M -0.9% | -$2.5M -0.3% | -$8.7M -0.9% | $11.4M 1.4% | -$7.9M -1.4% |
| Pretax Income | $46.1M 9.9% | $77.3M 19.4% | $37.2M 8.6% | $17.7M 3.8% | -$147K -0.0% | $84.0M 15.1% | $21.5M 2.6% | -$12.3M -1.2% | $113.8M 14.3% | $76.1M 13.9% |
| Income Tax Expense | $10.5M 2.3% | $16.3M 4.1% | $11.1M 2.6% | $6.5M 1.4% | $5.3M 1.3% | $17.9M 3.2% | $7.3M 0.9% | $2.1M 0.2% | $38.8M 4.9% | $10.4M 1.9% |
| Net Income | $19.1M 4.1% | $28.3M 7.1% | $15.0M 3.4% | $7.6M 1.6% | $3.7M 0.9% | $27.3M 4.9% | $8.4M 1.0% | -$1.2M -0.1% | $19.2M 2.4% | $14.4M 2.6% |
| Per Share | ||||||||||
| EPS (Basic) | $2.70 | $5.48 | $1.36 | -$0.15 | -$1.35 | $6.83 | $0.03 | -$0.69 | $1.23 | $1.27 |
| EPS (Diluted) | $2.70 | $5.48 | $1.36 | -$0.15 | -$1.35 | $6.75 | $0.02 | -$0.69 | $1.21 | $1.11 |
| Weighted Avg Shares (Basic) | 3.7M | 3.3M | 3.2M | 3.2M | 3.0M | 2.9M | 14.3M | 13.4M | 13.1M | 11.4M |
| Weighted Avg Shares (Diluted) | 3.7M | 3.3M | 3.2M | 3.2M | 3.0M | 2.9M | 14.6M | 13.4M | 13.3M | 12.7M |
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.
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.
No current price collected.
Where each multiple sits in its own 9-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 9-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 28% against ROIC 10% — 18% 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 | 84.1 | 75.6 | 62.1 | 82.1 | 77.5 | 71.4 | 57.9 | 69.4 |
| Gross Profit | — | — | 37.9 | 17.9 | 22.5 | 28.6 | 42.1 | 30.6 |
| SG&A | 11.1 | 16.4 | 16.4 | 11.3 | 13.4 | 15.8 | 18.7 | 14.3 |
| Operating Income | -0.4 | 2.9 | 16.0 | 1.1 | 5.4 | 10.7 | 21.1 | 11.6 |
| Income Tax | 0.2 | 0.9 | 3.2 | 1.3 | 1.4 | 2.6 | 4.1 | 2.3 |
| Net Income | -0.1 | 1.0 | 4.9 | 0.9 | 1.6 | 3.4 | 7.1 | 4.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on VIASP: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cost of capital cannot be computed, so the spread is unknown.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 36.9% | 15.4% | 2.6% |
| FY2017 | 30.8% | 12.8% | 2.4% |
| FY2018 | 15.9% | -0.4% | -0.1% |
| FY2019 | 24.4% | 2.9% | 1.0% |
| FY2020 | 37.9% | 16.0% | 4.9% |
| FY2021 | 17.9% | 1.1% | 0.9% |
| FY2022 | 22.5% | 5.4% | 1.6% |
| FY2023 | 28.6% | 10.7% | 3.4% |
| FY2024 | 42.1% | 21.1% | 7.1% |
| FY2025 | 30.6% | 11.6% | 4.1% |
Leverage and buybacks account for 18 points of the 28% return on equity in FY2025. The business earns 10% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
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.
Missing from our data, so excluded from this answer: market_cap.
Cash conversion is 2.30x, but receivables have outgrown revenue 2 years running.
Receivables have outgrown revenue for 2 years running — sales are being booked faster than the money arrives, which reaches the cash flow statement a year or more after it shows up here.
Covers interest 5.0x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 7.12x |
| 5% | 6.77x |
| 10% | 6.41x |
| 15% | 6.05x |
| 20% | 5.70x |
| 25% | 5.34x |
| 30% | 4.98x |
| 35% | 4.63x |
| 40% | 4.27x |
| 45% | 3.92x |
| 50% | 3.56x |
| 55% | 3.20x |
| 60% | 2.85x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
No current price or share count, so the market's assumption cannot be solved for.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: market_cap.
| Step | Amount | Running total |
|---|---|---|
| Net income | $19M | $19M |
| Share-based comp | $0 | $19M |
| Other non-cash & working capital | $23M | $42M |
| Operating cash flow | $42M | $42M |
| Capex | −$3M | $39M |
| Free cash flow | $39M | $39M |
| FCF after SBC | $39M | $39M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | -31.8% | -38.1% | -6.3 points |
| FY2021 | -29.1% | -5.2% | 23.9 points |
| FY2022 | 17.0% | 22.2% | 5.1 points |
| FY2023 | -5.5% | -22.4% | -16.9 points |
| FY2024 | -8.3% | 3.5% | 11.8 points |
| FY2025 | 16.2% | 31.2% | 15.0 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 51 days | 1.8 days | 28.6 days | 24.1 days |
| FY2020 | 46.3 days | 1.6 days | 28.9 days | 18.9 days |
| FY2021 | 61.8 days | 2.2 days | 48.9 days | 15.2 days |
| FY2022 | 64.6 days | 4.5 days | 54.5 days | 14.6 days |
| FY2023 | 53 days | 3.7 days | not reported | not reported |
| FY2024 | 59.9 days | 3.4 days | not reported | not reported |
| FY2025 | 67.6 days | 3.3 days | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -19.7 percent |
| FY2020 | -17.7 percent |
| FY2021 | -2.5 percent |
| FY2022 | -2.6 percent |
| FY2023 | -11.3 percent |
| FY2024 | -6.4 percent |
| FY2025 | -6.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 7 consecutive years to the latest.
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.