AMRC Ameresco, Inc. Class A Common Stock
$25.81
Price · Aug 18, 2026
Fundamentals as of Aug 4, 2026
52W Range
$18–$45
28% of range
Analyst Rating
BUY
18 analysts
Price Target
$44
+70% upside
P/E (TTM)
35.7
ROE
—
Net Profit Margin
—
AMRC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.80
Market Cap
—
P/E (TTM)
35.7
EPS (TTM)
$1.07
Revenue (TTM)
$1.77B
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$18 – $45
AMRC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.77B
2016-12-31
→
2024-12-31
EPS
$1.07
2016-12-31
→
2024-12-31
Free Cash Flow
—
2016-12-31
→
2024-12-31
Margins
—
2016-12-31
→
2024-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AMRC
Peer Median
P/E (TTM)
35.7
43.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AMRC
Peer Median
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AMRC
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AMRC
Peer Median
Revenue YoY
28.8%
—
Revenue CAGR 3Y
13.3%
—
EPS YoY
-8.6%
—
Net Income YoY
-9.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AMRC
Peer Median
AMRC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 5 27.8%
- Buy 8 44.4%
- Hold 5 27.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-17
Median
$42.00
← Below all targets
$25.80
Low
$32.00
High
$62.00
Median target
$42.00
+62.8%
Mean target
$43.90
+70.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.18 | $0.16 | 0.02% |
| March 31, 2026 | $-0.35 | $-0.30 | -0.05% |
| Dec. 31, 2025 | $0.34 | $0.32 | 0.02% |
| Sept. 30, 2025 | $0.35 | $0.24 | 0.11% |
| June 30, 2025 | $0.24 | $0.02 | 0.22% |
| March 31, 2025 | $-0.10 | $-0.28 | 0.18% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AMRC | — | 35.7 | 28.8% | — | — | — |
| TPC | $3.54B | 44.4 | 28.1% | 1.5% | 6.8% | 11.7% |
| PRIM | $6.71B | 24.7 | 19.0% | 3.6% | 17.1% | 10.7% |
| WSC | $3.41B | -64.9 | -4.8% | -2.3% | -5.6% | 51.0% |
| CTRI | $2.61B | 103.8 | 13.1% | 0.75% | 3.1% | 8.3% |
| CDNL | — | — | 44.7% | 5.0% | 27.9% | — |
| NWPX | $599M | 17.6 | 6.8% | 6.7% | 9.2% | 19.7% |
| BWMN | $568M | 45.2 | 14.9% | 2.6% | 5.0% | — |
| ITG | — | — | — | — | — | — |
| IMSR | — | — | — | — | — | — |
| LMB | $905M | 24.1 | 24.7% | 6.0% | 21.3% | 26.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | $1.77B | $1.37B | $1.82B | $1.22B | $1.03B | $867M | $787M | $717M | $651M | $631M | $593M | |
| Cost of Revenue | · | $1.51B | $1.13B | $1.53B | $985M | $845M | $699M | $614M | $573M | $517M | $514M | $476M | |
| Gross Profit | · | $256M | $246M | $291M | $230M | $188M | $168M | $174M | $144M | $134M | $117M | $117M | |
| SG&A Expense | · | $174M | $162M | $159M | $133M | $116M | $117M | $115M | $108M | $111M | $110M | $104M | |
| Operating Income | · | $109M | $82M | $133M | $95M | $71M | $52M | $59M | $37M | $24M | $7M | $13M | |
| Interest Expense | · | · | $27M | $18M | $15M | $13M | $13M | $15M | $9M | $7M | $5M | $5M | |
| Interest Income | · | · | · | · | · | $250.0K | $524.0K | $282.0K | $130.0K | $50.0K | $1M | $45.0K | |
| Other Non-op | · | $-75M | $-44M | $-27M | $-17M | $-15M | $-15M | $-17M | $-8M | $-7M | $-7M | $-7M | |
| Pretax Income | · | $34M | $38M | $106M | $78M | $56M | $37M | $42M | $29M | $16M | $292.0K | $6M | |
| Income Tax | · | $-20M | $-26M | $7M | $-2M | $-494.0K | $-4M | $5M | $-5M | $4M | $5M | $-4M | |
| Net Income | · | $57M | $62M | $95M | $70M | $54M | $44M | $38M | $37M | $12M | $844.0K | $10M | |
| EPS (Basic) | · | $1.08 | $1.20 | $1.83 | $1.38 | $1.13 | $0.95 | $0.83 | $0.82 | $0.26 | $0.02 | $0.22 | |
| EPS (Diluted) | · | $1.07 | $1.17 | $1.78 | $1.35 | $1.10 | $0.93 | $0.81 | $0.82 | $0.26 | $0.02 | $0.22 | |
| Shares (Basic) | · | 52,380,000 | 52,140,000 | 51,841,000 | 50,855,000 | 47,702,000 | 46,586,000 | 45,729,000 | 45,509,000 | 46,409,000 | 46,494,000 | 46,161,846 | |
| Shares (Diluted) | · | 53,140,000 | 53,228,000 | 53,278,000 | 52,268,000 | 49,006,000 | 47,774,000 | 46,831,000 | 45,748,000 | 46,493,000 | 47,665,000 | 47,027,755 | |
| EBITDA | · | $198M | · | $185M | $140M | $112M | $89M | $88M | $61M | $47M | $7M | $13M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $72M | $109M | $79M | $116M | $50M | $66M | $33M | $61M | $24M | $21M | $22M | $24M | |
| Inventory | $13M | $12M | $14M | $14M | $9M | $9M | $9M | $8M | $8M | $12M | $13M | $9M | |
| Prepaid Expense | $240M | $146M | $123M | $39M | $25M | $27M | $29M | $12M | $14M | $12M | $12M | $9M | |
| Current Assets | $1.55B | $1.30B | $1.13B | $1.00B | $639M | $491M | $425M | $311M | $287M | $226M | $264M | $216M | |
| PP&E (Net) | $10M | $11M | $17M | $16M | $13M | $9M | $10M | $7M | $5M | $5M | $5M | $7M | |
| PP&E (Gross) | · | · | · | · | · | · | · | $37M | $33M | $30M | $27M | $27M | |
| Accum. Depreciation | · | · | · | · | · | · | · | $30M | $28M | $25M | $22M | $19M | |
| Goodwill | $69M | $66M | $76M | $71M | $71M | $59M | $58M | $58M | $56M | $58M | $59M | $60M | |
| Intangibles | $7M | $9M | $7M | $5M | $7M | $927.0K | $2M | $2M | $2M | $4M | $7M | $11M | |
| Other Non-current Assets | $118M | $90M | $90M | $39M | $23M | $15M | $12M | $29M | $28M | $26M | $18M | $26M | |
| Total Assets | $4.54B | $4.16B | $3.71B | $2.88B | $2.22B | $1.75B | $1.37B | $1.16B | $984M | $797M | $723M | $622M | |
| Accounts Payable | $691M | $529M | $403M | $349M | $309M | $231M | $202M | $134M | $136M | $127M | $115M | $88M | |
| Accrued Liabilities | $114M | $107M | $109M | $89M | $43M | $42M | $31M | $36M | $23M | $23M | $22M | $24M | |
| Current Liabilities | $1.03B | $889M | $901M | $812M | $474M | $383M | $337M | $223M | $202M | $191M | $180M | $143M | |
| Capital Leases | $56M | $59M | $42M | $32M | $35M | $35M | $29M | $0 | · | · | · | · | |
| Deferred Tax | $3M | $2M | $4M | $9M | $4M | $6M | $115.0K | $4M | $584.0K | $9M | $6M | $3M | |
| Other Non-current Liabilities | $91M | $114M | $83M | $49M | $43M | $38M | $30M | $29M | $19M | $15M | $19M | $20M | |
| Long-term Debt | · | · | · | · | · | · | $343M | $254M | $202M | $165M | $119M | $102M | |
| Total Debt | · | $149M | · | $331M | $79M | $69M | $266M | $219M | $173M | $141M | $106M | $102M | |
| Paid-in Capital | $396M | $378M | $321M | $306M | $284M | $145M | $134M | $125M | $116M | $113M | $110M | $107M | |
| Retained Earnings | $697M | $653M | $596M | $534M | $439M | $368M | $314M | $270M | $236M | $194M | $182M | $181M | |
| Treasury Stock | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $10M | $6M | $0 | · | |
| AOCI | $-460.0K | $-6M | $-3M | $-4M | $-7M | $-9M | $-8M | $-6M | $-6M | $-7M | $-5M | $-3M | |
| Stockholders' Equity | $1.08B | $1.01B | $902M | $824M | $704M | $493M | $429M | $377M | $337M | $294M | $287M | $286M | |
| Liabilities + Equity | $4.54B | $4.16B | $3.71B | $2.88B | $2.22B | $1.75B | $1.37B | $1.16B | $984M | $797M | $723M | $622M |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $89M | $66M | $54M | $45M | $40M | $38M | $29M | $24M | $23M | $22M | $21M | |
| Stock-based Comp | · | $14M | $10M | $15M | $9M | $2M | $2M | $1M | $1M | $1M | $2M | $2M | |
| Deferred Tax | · | $-24M | $-27M | $6M | $-4M | $2M | $-4M | $5M | $-5M | $3M | $4M | $-2M | |
| Amort. of Intangibles | · | $2M | $2M | $2M | $321.0K | $685.0K | $909.0K | $1M | $1M | $2M | $4M | $5M | |
| Other Non-cash | · | $-18M | · | $-507M | $-292M | $-201M | $-276M | $-127M | $-195M | $-97M | · | · | |
| Operating Cash Flow | · | $118M | $-70M | $-338M | $-172M | $-103M | $-196M | $-53M | $-136M | $-53M | $-50M | $1M | |
| CapEx | · | $4M | $6M | $5M | $5M | $2M | $7M | $4M | $3M | $3M | $1M | $2M | |
| Investing Cash Flow | · | $-387M | $-567M | $-328M | $-205M | $-181M | $-142M | $-133M | $-88M | $-80M | $-52M | $-39M | |
| Debt Issued | · | · | $843M | $468M | $186M | $116M | $44M | $88M | $48M | $38M | $18M | $0 | |
| Net Debt Issued | · | · | · | $307M | $88M | $42M | $15M | $52M | $-6M | $24M | $5M | $-18M | |
| Stock Issued | · | · | $0 | $0 | $120M | $0 | $0 | · | · | · | · | · | |
| Stock Repurchased | · | · | · | $0 | $0 | $6.0K | $144.0K | $2M | $3M | $6M | $0 | $0 | |
| Net Stock Activity | · | · | · | $0 | $120M | $-6.0K | $-144.0K | $-2M | $-3M | $-6M | · | · | |
| Financing Cash Flow | · | $314M | $641M | $730M | $365M | $305M | $317M | $225M | $230M | $134M | $101M | $43M | |
| Net Change in Cash | · | $45M | $4M | $63M | $-12M | $22M | $-21M | $38M | $7M | $1M | $-2M | $7M | |
| Free Cash Flow | · | $113M | · | $-344M | $-177M | $-105M | $-203M | $-57M | $-139M | $-61M | $-51M | $-1M | |
| Levered FCF | · | · | · | $-360M | $-192M | $-118M | $-217M | $-71M | $-150M | $-66M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | 14.5% | · | 15.9% | 18.9% | 18.2% | 19.4% | 22.1% | 20.1% | 20.6% | 18.6% | 19.7% | |
| Operating Margin | · | 6.1% | · | 7.3% | 7.8% | 6.9% | 5.9% | 7.5% | 5.1% | 3.6% | 1.1% | 2.2% | |
| Net Margin | · | 3.2% | · | 5.2% | 5.8% | 5.2% | 5.1% | 4.8% | 5.2% | 1.8% | -0.40% | 1.8% | |
| Pretax Margin | · | 1.9% | · | 5.8% | 6.4% | 5.5% | 4.2% | 5.4% | 4.0% | 2.5% | 0.05% | 1.1% | |
| EBITDA Margin | · | 11.2% | · | 10.2% | 11.5% | 10.8% | 10.3% | 11.2% | 8.4% | 7.1% | 1.1% | 2.2% | |
| ROA | · | 1.4% | · | 3.7% | 3.5% | 3.5% | 3.5% | 3.5% | 4.2% | 1.6% | -0.38% | 1.7% | |
| ROE | · | 5.9% | · | 12.4% | 11.8% | 11.6% | 10.7% | 10.2% | 11.9% | 4.1% | -0.89% | 3.7% | |
| ROIC | · | 14.9% | · | 10.7% | 12.5% | 12.8% | 8.2% | 8.8% | 8.4% | 4.0% | -15.6% | 5.6% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 1.5 | · | 1.2 | 1.3 | 1.3 | 1.3 | 1.4 | 1.4 | 1.2 | 1.5 | 1.6 | |
| Quick Ratio | · | 0.1 | · | 0.1 | 0.1 | 0.2 | 0.1 | 0.3 | 0.1 | 0.1 | 0.1 | 0.2 | |
| Debt / Equity | · | 0.1 | · | 0.4 | 0.1 | 0.1 | 0.6 | 0.6 | 0.5 | 0.5 | 0.4 | 0.4 | |
| LT Debt / Equity | · | · | · | · | · | · | 0.6 | 0.6 | 0.5 | 0.5 | 0.4 | 0.3 | |
| Interest Coverage | · | · | · | 7.5 | 6.6 | 5.5 | 4.1 | 3.9 | 4.0 | 3.4 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.4 | · | 0.7 | 0.6 | 0.7 | 0.7 | 0.7 | 0.8 | 0.9 | 0.9 | 1.0 | |
| Inventory Turnover | · | 120.2 | · | 133.2 | 113.4 | 94.9 | 82.2 | 77.2 | 56.6 | 40.8 | 46.5 | 49.7 |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | 28.8% | -24.6% | 50.1% | 17.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | 13.3% | 10.0% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | -8.6% | -34.3% | 31.9% | 22.7% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | -7.5% | 2.1% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | -9.2% | -34.2% | 34.7% | 30.3% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | -7.0% | 4.9% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.85B | $1.77B | $1.37B | $1.82B | $1.22B | $1.03B | $867M | $787M | $717M | $651M | $631M | $593M | |
| Net Income TTM | $44M | $57M | $62M | $95M | $70M | $54M | $44M | $38M | $37M | $12M | $844.0K | $10M | |
| P/E | 35.7 | 21.9 | 27.1 | 32.1 | 60.3 | 47.5 | 18.8 | 17.4 | 10.5 | 21.2 | 312.5 | 31.8 | |
| Earnings Yield | 2.8% | 4.6% | 3.7% | 3.1% | 1.7% | 2.1% | 5.3% | 5.7% | 9.5% | 4.7% | 0.32% | 3.1% |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $515M | $401M | $526M | $472M | $353M | $533M | $501M | $438M | $298M | $441M | $335M | $327M | $271M | $332M | $441M | $577M | |
| Cost of Revenue | $424M | $345M | $442M | $399M | $301M | $466M | $424M | $373M | $251M | $367M | $271M | $268M | $221M | $270M | $362M | $496M | |
| Gross Profit | $91M | $56M | $84M | $73M | $52M | $67M | $77M | $65M | $47M | $74M | $64M | $59M | $50M | $62M | $80M | $81M | |
| SG&A Expense | $48M | $46M | $43M | $46M | $38M | $48M | $42M | $44M | $40M | $37M | $43M | $41M | $41M | $39M | $41M | $39M | |
| Operating Income | $44M | $10M | $42M | $28M | $14M | $45M | $35M | $21M | $8M | $34M | $21M | $18M | $9M | $22M | $39M | $43M | |
| Other Non-op | $734.0K | $98.0K | $-1M | $-1M | $2M | $-60M | $-129.0K | $-673.0K | $-14M | $-16M | $-11M | $-9M | $-8M | $-7M | $-8M | $-5M | |
| Pretax Income | $20M | $-18M | $18M | $13M | $-4M | $21M | $14M | $5M | $-6M | $18M | $11M | $8M | $1M | $15M | $31M | $38M | |
| Income Tax | $137.0K | $-3M | $-4M | $-3M | $1M | $-17M | $-3M | $0 | $0 | $-15M | $-10M | $5.0K | $-503.0K | $-4M | $4M | $5M | |
| Net Income | $10M | $-18M | $19M | $13M | $-5M | $37M | $18M | $5M | $-3M | $34M | $21M | $6M | $1M | $18M | $27M | $32M | |
| EPS (Basic) | $0.18 | $-0.35 | $0.35 | $0.24 | $-0.10 | $0.70 | $0.34 | $0.10 | $-0.06 | $0.65 | $0.41 | $0.12 | $0.02 | $0.34 | $0.53 | $0.62 | |
| EPS (Diluted) | $0.18 | $-0.35 | $0.35 | $0.24 | $-0.10 | $0.71 | $0.33 | $0.09 | $-0.06 | $0.63 | $0.40 | $0.12 | $0.02 | $0.34 | $0.51 | $0.61 | |
| Shares (Basic) | 52,987,000 | 52,886,000 | 52,716,000 | 52,638,000 | 52,544,000 | -104,677,000 | 52,413,000 | 52,355,000 | 52,289,000 | -104,159,000 | 52,209,000 | 52,127,000 | 51,963,000 | -103,590,000 | 51,869,000 | 51,818,000 | |
| Shares (Diluted) | 53,835,000 | 52,886,000 | 53,370,000 | 52,821,000 | 52,544,000 | -105,505,000 | 53,243,000 | 53,113,000 | 52,289,000 | -106,544,000 | 53,300,000 | 53,211,000 | 53,261,000 | -106,828,000 | 53,297,000 | 53,173,000 | |
| EBITDA | $74M | $40M | $70M | $53M | $38M | · | $58M | $41M | $26M | · | $38M | $33M | $23M | · | $52M | $56M |
Balance Sheet 22
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $138M | $104M | $95M | $82M | $72M | $109M | $114M | $150M | $78M | $79M | $108M | $49M | $179M | · | $123M | $68M | |
| Inventory | $13M | $13M | $13M | $12M | $12M | $12M | $12M | $12M | $13M | $14M | $14M | $14M | $14M | · | $13M | $11M | |
| Prepaid Expense | $236M | $236M | $190M | $183M | $242M | $146M | $155M | $134M | $119M | $123M | $68M | $59M | $56M | · | $22M | $23M | |
| Current Assets | $1.68B | $1.55B | $1.42B | $1.28B | $1.26B | $1.30B | $1.22B | $1.24B | $1.13B | $1.13B | $1.03B | $922M | $958M | · | $1.09B | $1.06B | |
| PP&E (Net) | · | $10M | $10M | $11M | $11M | $11M | $17M | $17M | $17M | $17M | $18M | $17M | $17M | · | $15M | $14M | |
| Goodwill | $69M | $69M | $69M | $69M | $68M | $66M | $76M | $75M | $75M | $76M | $77M | $78M | $78M | $71M | $70M | $71M | |
| Intangibles | $6M | $7M | $8M | $9M | $9M | $9M | $5M | $6M | $6M | $7M | $7M | $8M | $9M | · | $5M | $6M | |
| Other Non-current Assets | $106M | $100M | $110M | $106M | $88M | $90M | $78M | $149M | $104M | $90M | $69M | $43M | $41M | · | $38M | $34M | |
| Total Assets | $4.83B | $4.64B | $4.43B | $4.30B | $4.17B | $4.16B | $3.98B | $3.97B | $3.80B | $3.71B | $3.46B | $3.04B | $2.97B | · | $3.04B | $2.88B | |
| Accounts Payable | $642M | $667M | $570M | $452M | $436M | $529M | $399M | $497M | $437M | $403M | $328M | $290M | $285M | · | $411M | $433M | |
| Accrued Liabilities | $108M | $119M | $106M | $105M | $112M | $107M | $101M | $100M | $110M | $109M | $94M | $81M | $115M | · | $95M | $42M | |
| Current Liabilities | $1.00B | $1.04B | $939M | $822M | $798M | $889M | $965M | $1.23B | $1.16B | $901M | $882M | $752M | $767M | · | $860M | $604M | |
| Capital Leases | $53M | $54M | $56M | $58M | $58M | $59M | $58M | $49M | $51M | $42M | $39M | $32M | $32M | · | $31M | $33M | |
| Deferred Tax | $1M | $3M | $3M | $2M | $2M | $2M | $3M | $4M | $5M | $4M | $4M | $8M | $3M | · | $11M | $9M | |
| Other Non-current Liabilities | $95M | $93M | $112M | $123M | $123M | $114M | $103M | $98M | $89M | $83M | $74M | $70M | $64M | · | $47M | $46M | |
| Total Debt | $164M | $162M | $167M | $161M | $149M | · | $343M | $524M | $539M | · | $410M | $333M | $313M | · | $301M | $83M | |
| Paid-in Capital | $565M | $400M | $390M | $386M | $382M | $378M | $336M | $332M | $327M | $321M | $322M | $317M | $311M | · | $299M | $294M | |
| Retained Earnings | $688M | $678M | $678M | $660M | $647M | $653M | $616M | $598M | $593M | $596M | $562M | $541M | $535M | · | $516M | $488M | |
| Treasury Stock | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | · | $12M | $12M | |
| AOCI | $-5M | $-2M | $-1M | $240.0K | $-5M | $-6M | $-3M | $-4M | $-4M | $-3M | $-4M | $-3M | $-5M | · | $-6M | $-4M | |
| Stockholders' Equity | $1.24B | $1.06B | $1.06B | $1.03B | $1.01B | $1.01B | $937M | $915M | $905M | $902M | $869M | $844M | $829M | · | $798M | $766M | |
| Liabilities + Equity | $4.83B | $4.64B | $4.43B | $4.30B | $4.17B | $4.16B | $3.98B | $3.97B | $3.80B | $3.71B | $3.46B | $3.04B | $2.97B | · | $3.04B | $2.88B |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $30M | $29M | $27M | $25M | $24M | $27M | $23M | $20M | $19M | $20M | $17M | $16M | $14M | $15M | $14M | $13M | |
| Stock-based Comp | $3M | $4M | $4M | $4M | $3M | $4M | $4M | $4M | $3M | $-2M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Amort. of Intangibles | $565.0K | $565.0K | $634.0K | $595.0K | $525.0K | $519.0K | $539.0K | $537.0K | $539.0K | $685.0K | $690.0K | $689.0K | $302.0K | $396.0K | $442.0K | $442.0K | |
| Other Non-cash | · | $20M | · | · | $-50M | · | · | · | $2M | · | · | · | $40M | · | · | · | |
| Operating Cash Flow | $-107M | $35M | $18M | $-27M | $-28M | $18M | $25M | $53M | $21M | $-30M | $-7M | $-93M | $59M | $-65M | $35M | $-32M | |
| CapEx | $862.0K | $542.0K | $-352.0K | $147.0K | $422.0K | $1M | $987.0K | $1M | $962.0K | $1M | $2M | $1M | $2M | $1M | $1M | $2M | |
| Investing Cash Flow | $-113M | $-97M | $-82M | $-58M | $-118M | $-31M | $-122M | $-129M | $-104M | $-102M | $-186M | $-178M | $-101M | $-126M | $-70M | $-75M | |
| Debt Issued | · | · | · | · | · | · | $304M | $270M | $89M | · | $385M | $286M | $58M | · | $23M | $21M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | $34M | · | · | · | $43M | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Financing Cash Flow | $219M | $129M | $89M | $107M | $115M | $9M | $67M | $161M | $77M | $108M | $267M | $159M | $106M | $176M | $89M | $110M | |
| Net Change in Cash | $-2M | $66M | $24M | $25M | $-32M | $-6M | $-29M | $85M | $-6M | $-22M | $74M | $-112M | $64M | $-14M | $52M | $3M | |
| Free Cash Flow | · | $35M | · | · | $-29M | · | · | · | $20M | · | · | · | $57M | · | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 17.7% | 14.1% | 16.0% | 15.5% | 14.7% | · | 15.4% | 14.9% | 15.8% | · | 19.0% | 17.9% | 18.4% | · | 18.0% | 14.1% | |
| Operating Margin | 8.6% | 2.5% | 8.1% | 5.9% | 3.9% | · | 7.0% | 4.8% | 2.7% | · | 6.4% | 5.4% | 3.4% | · | 8.8% | 7.5% | |
| Net Margin | 1.9% | -4.5% | 3.5% | 2.7% | -1.6% | · | 3.5% | 1.1% | -0.98% | · | 6.3% | 1.9% | 0.41% | · | 6.2% | 5.6% | |
| Pretax Margin | 3.9% | -4.4% | 3.5% | 2.7% | -1.2% | · | 2.7% | 1.2% | -2.1% | · | 3.2% | 2.6% | 0.39% | · | 7.1% | 6.6% | |
| EBITDA Margin | 14.4% | 9.8% | 13.2% | 11.2% | 10.7% | · | 11.6% | 9.3% | 8.8% | · | 11.3% | 10.2% | 8.5% | · | 11.9% | 9.7% | |
| ROA | 0.21% | -0.41% | 0.44% | 0.31% | -0.14% | · | 0.47% | 0.14% | -0.09% | · | 0.65% | 0.21% | 0.04% | · | 1.1% | 1.3% | |
| ROE | 0.86% | -1.8% | 1.9% | 1.3% | -0.57% | · | 1.9% | 0.57% | -0.34% | · | 2.5% | 0.79% | 0.14% | · | 3.7% | 4.6% | |
| ROIC | 3.1% | 0.68% | 4.2% | 2.9% | 1.5% | · | 3.4% | 1.5% | 0.55% | · | 3.2% | 1.5% | 1.2% | · | 3.1% | 4.4% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.5 | 1.5 | 1.6 | 1.6 | · | 1.3 | 1.0 | 1.0 | · | 1.2 | 1.2 | 1.2 | · | 1.3 | 1.8 | |
| Quick Ratio | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.2 | · | 0.1 | 0.1 | |
| Debt / Equity | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | · | 0.4 | 0.6 | 0.6 | · | 0.5 | 0.4 | 0.4 | · | 0.4 | 0.1 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.2 | |
| Inventory Turnover | 33.9 | 27.7 | 35.7 | 32.1 | 23.7 | · | 33.1 | 28.0 | 18.8 | · | 20.3 | 21.5 | 19.0 | · | 33.8 | 50.4 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.92B | $1.75B | $1.85B | $1.76B | $1.59B | · | $1.57B | $1.40B | $1.23B | · | $1.37B | $1.62B | $1.76B | · | $1.77B | $1.60B | |
| Net Income TTM | $23M | $8M | $44M | $30M | $14M | · | $41M | $30M | $26M | · | $56M | $67M | $78M | · | $94M | $81M | |
| P/E | 65.7 | 182.1 | 41.0 | 27.1 | 46.5 | · | 49.9 | 52.4 | 50.3 | · | 36.7 | 38.6 | 33.7 | · | 37.6 | 30.0 | |
| Earnings Yield | 1.5% | 0.55% | 2.4% | 3.7% | 2.1% | · | 2.0% | 1.9% | 2.0% | · | 2.7% | 2.6% | 3.0% | · | 2.7% | 3.3% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | — | $1.77B | $1.37B | $1.82B | $1.22B |
| Gross Margin % | — | 14.5% | — | 15.9% | 18.9% |
| Operating Margin % | — | 6.1% | — | 7.3% | 7.8% |
| Net Income | — | $57M | $62M | $95M | $70M |
| Diluted EPS | — | $1.07 | $1.17 | $1.78 | $1.35 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | 0.1 | — | 0.4 | 0.1 |
| Current Ratio | — | 1.5 | — | 1.2 | 1.3 |
| Quick Ratio | — | 0.1 | — | 0.1 | 0.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $113M | — | $-344M | $-177M |
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Institutional owners (13F) 204 filers · $669.1M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 27 (-15 vs prior Q) | 25 (-8 vs prior Q) | 72 (+9 vs prior Q) | 57 (+7 vs prior Q) | +418K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Grantham, Mayo, Van Otterloo & Co. LLC | $56,054,220 | 2,030,950 | 8.38% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $54,511,601 | 1,975,058 | 8.15% | Shares |
| STATE STREET CORP | $44,191,105 | 1,601,127 | 6.60% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $42,039,851 | 1,523,183 | 6.28% | Shares |
| MILLENNIUM MANAGEMENT LLC | $41,048,983 | 1,487,282 | 6.14% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $39,489,031 | 1,430,762 | 5.90% | Shares |
| DNB Asset Management AS | $28,303,745 | 1,025,498 | 4.23% | Shares |
| ROYCE & ASSOCIATES LP | $27,549,851 | 998,183 | 4.12% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $25,230,871 | 914,162 | 3.77% | Shares |
| GAGNON SECURITIES LLC | $22,813,111 | 826,562 | 3.41% | Shares |
| AMERICAN CENTURY COMPANIES INC | $22,028,140 | 798,121 | 3.29% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $20,573,701 | 745,268 | 3.07% | Shares |
| Swedbank AB | $19,816,800 | 718,000 | 2.96% | Shares |
| Redwood Grove Capital, LLC | $15,001,290 | 543,525 | 2.24% | Shares |
| Gagnon Advisors, LLC | $13,049,225 | 472,798 | 1.95% | Shares |
| Bandera Partners LLC | $12,145,880 | 476,309 | 1.82% | Shares |
| MACKENZIE FINANCIAL CORP | $10,241,063 | 371,053 | 1.53% | Shares |
| JCP Investment Management, LLC | $9,356,400 | 339,000 | 1.40% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $8,847,677 | 320,568 | 1.32% | Shares |
| FIRST TRUST ADVISORS LP | $8,282,760 | 300,100 | 1.24% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $8,153,564 | 295,419 | 1.22% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $7,379,826 | 267,385 | 1.10% | Shares |
| JANE STREET GROUP, LLC | $6,836,520 | 247,700 | 1.02% | Call option |
| Rock Point Advisors, LLC | $5,844,714 | 211,765 | 0.87% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,677,900 | 205,721 | 0.85% | Shares |
| Guinness Asset Management LTD | $5,337,812 | 193,399 | 0.80% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,158,964 | 186,919 | 0.77% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $4,450,252 | 161,241 | 0.67% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,935,926 | 142,606 | 0.59% | Shares |
| CITADEL ADVISORS LLC | $3,828,120 | 138,700 | 0.57% | Call option |
| SEGALL BRYANT & HAMILL, LLC | $3,727,601 | 135,058 | 0.56% | Shares |
| Baird Financial Group, Inc. | $3,392,454 | 122,915 | 0.51% | Shares |
| HUSSMAN STRATEGIC ADVISORS, INC. | $2,898,000 | 105,000 | 0.43% | Shares |
| D. E. Shaw & Co., Inc. | $2,854,309 | 103,417 | 0.43% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $2,797,481 | 101,358 | 0.42% | Shares |
| Raiffeisen Bank International AG | $2,657,000 | 100,000 | 0.40% | Shares |
| CONNORS INVESTOR SERVICES INC | $2,493,439 | 90,342 | 0.37% | Shares |
| Erste Asset Management GmbH | $2,423,822 | 91,224 | 0.36% | Shares |
| Kultura Capital Management LP | $2,249,400 | 81,500 | 0.34% | Call option |
| BANK OF AMERICA CORP /DE/ | $2,167,539 | 78,534 | 0.32% | Shares |
| Clean Yield Group | $1,913,149 | 69,317 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,824,360 | 66,100 | 0.27% | Call option |
| CITADEL ADVISORS LLC | $1,811,885 | 65,648 | 0.27% | Shares |
| Amundi | $1,798,554 | 65,165 | 0.27% | Shares |
| Swiss National Bank | $1,785,720 | 64,700 | 0.27% | Shares |
| BlackRock, Inc. | $1,779,013 | 64,457 | 0.27% | Shares |
| Empowered Funds, LLC | $1,760,024 | 63,769 | 0.26% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $1,730,768 | 62,709 | 0.26% | Shares |
| Bank of New York Mellon Corp | $1,665,412 | 60,341 | 0.25% | Shares |
| ZB,N.A. | $1,523,476 | 64,884 | 0.23% | Shares |
| Qube Research & Technologies Ltd | $1,490,980 | 54,021 | 0.22% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,479,802 | 53,616 | 0.22% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $1,442,762 | 52,274 | 0.22% | Shares |
| Trexquant Investment LP | $1,442,542 | 52,266 | 0.22% | Shares |
| JANE STREET GROUP, LLC | $1,424,160 | 51,600 | 0.21% | Put option |
| ALPS ADVISORS INC | $1,393,828 | 50,501 | 0.21% | Shares |
| FRANKLIN RESOURCES INC | $1,330,624 | 48,211 | 0.20% | Shares |
| RHUMBLINE ADVISERS | $1,309,997 | 47,464 | 0.20% | Shares |
| GOLDMAN SACHS GROUP INC | $1,193,728 | 43,251 | 0.18% | Shares |
| ALGERT GLOBAL LLC | $1,159,476 | 42,010 | 0.17% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,147,277 | 41,568 | 0.17% | Shares |
| IRONWOOD INVESTMENT MANAGEMENT LLC | $1,141,867 | 41,372 | 0.17% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $1,136,651 | 41,183 | 0.17% | Shares |
| Engineers Gate Manager LP | $1,123,706 | 40,714 | 0.17% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $1,119,677 | 40,568 | 0.17% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $1,067,568 | 38,680 | 0.16% | Shares |
| DEUTSCHE BANK AG\ | $962,026 | 34,856 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $952,170 | 37,340 | 0.14% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $878,315 | 31,823 | 0.13% | Shares |
| Fideuram Asset Management (Ireland) dac | $797,076 | 30,000 | 0.12% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $782,212 | 28,341 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $762,603 | 29,906 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $745,200 | 27,000 | 0.11% | Put option |
| BARCLAYS PLC | $743,268 | 26,930 | 0.11% | Shares |
| CoreCommodity Management, LLC | $712,577 | 25,818 | 0.11% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $703,993 | 25,507 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $694,968 | 25,180 | 0.10% | Shares |
| Hartree Partners, LP | $690,000 | 25,000 | 0.10% | Shares |
| Granahan Investment Management, LLC | $651,967 | 23,622 | 0.10% | Shares |
| Kuhn & Co Investment Counsel | $625,140 | 22,650 | 0.09% | Shares |
| WOLVERINE TRADING, LLC | $611,464 | 17,900 | 0.09% | Call option |
| Aquatic Capital Management LLC | $600,521 | 21,758 | 0.09% | Shares |
| Counterpoint Mutual Funds LLC | $560,887 | 20,322 | 0.08% | Shares |
| Allspring Global Investments Holdings, LLC | $552,994 | 20,036 | 0.08% | Shares |
| MetLife Investment Management, LLC | $531,880 | 19,271 | 0.08% | Shares |
| Quantinno Capital Management LP | $491,915 | 17,823 | 0.07% | Shares |
| IMC-Chicago, LLC | $415,325 | 15,048 | 0.06% | Shares |
| Skopos Labs, Inc. | $410,831 | 16,111 | 0.06% | Shares |
| JANUS HENDERSON GROUP PLC | $396,290 | 15,553 | 0.06% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $394,459 | 14,292 | 0.06% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $382,950 | 13,875 | 0.06% | Shares |
| EntryPoint Capital, LLC | $379,555 | 13,752 | 0.06% | Shares |
| AlphaQuest LLC | $374,033 | 12,770 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $366,280 | 13,271 | 0.05% | Shares |
| Invesco Ltd. | $361,477 | 13,097 | 0.05% | Shares |
| Gallagher Fiduciary Advisors, LLC | $356,371 | 12,912 | 0.05% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $340,612 | 12,341 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $338,845 | 12,277 | 0.05% | Shares |
| NorthCrest Asset Manangement, LLC | $327,217 | 12,757 | 0.05% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $315,192 | 11,420 | 0.05% | Shares |
Company insiders 24 insiders · 10 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Andrew B Spence | VP and Chief Financial Officer | Oct. 15, 2013 M | 100,000 | 0 | 0 | $0 |
| Mario Iusi | President, Ameresco Canada | July 18, 2014 M | 0 | 0 | 0 | $0 |
| Joseph P Demanche | Executive Vice President | Jan. 22, 2014 S | 204,220 | 0 | 0 | $0 |
| Louis P Maltezos | Executive Vice President | Sept. 20, 2013 M | 0 | 0 | 0 | $0 |
| John Granara | VP & Chief Accounting Officer | Sept. 9, 2013 A | — | 0 | 0 | $0 |
| Michael T Bakas | Senior Vice President | July 3, 2012 S | 250,000 | 0 | 0 | $0 |
| Keith A Derrington | Executive Vice President | April 16, 2012 M | 0 | 0 | 0 | $0 |
| David Anderson | Executive Vice President | Feb. 8, 2012 S | 500,000 | 0 | 0 | $0 |
| William J Cunningham | Senior Vice President | Dec. 9, 2011 M | 0 | 0 | 0 | $0 |
| David J Corrsin | EVP and General Counsel | July 13, 2011 S | 1,098,872 | 0 | 0 | $0 |
| Claire D'Oyly-Hughes Johnson | Director | June 4, 2026 A | 20,546 | 0 | 0 | $0 |
| Jennifer L Miller | Director | June 4, 2026 A | 32,546 | 0 | 0 | $0 |
| Joseph W. Sutton | Director | June 4, 2026 A | 70,546 | 0 | 0 | $0 |
| Charles R. Patton | Director | June 4, 2026 M | 23,824 | 0 | 0 | $0 |
| Francis V Wisneski JR | Director | June 4, 2026 A | 35,667 | 0 | 1 | $-180,600 |
| Nickolas Stavropoulos | Director | June 4, 2026 A | 24,546 | 0 | 0 | $0 |
| Douglas I Foy | Director | May 22, 2014 A | 9,000 | 0 | 0 | $0 |
| Michael E Jesanis | Director | May 22, 2014 A | 10,000 | 0 | 0 | $0 |
| Guy W Nichols | Director | Nov. 8, 2010 P | 5,000 | 0 | 0 | $0 |
| Neil Gagnon | 10% owner | Dec. 9, 2016 S | 91,325 | 0 | 0 | $0 |
| Samuel T Byrne | 10% owner | July 27, 2010 S | 1,698,620 | 0 | 0 | $0 |
| George P Sakellaris | — | Aug. 11, 2026 P | 995,597 | 3 | 0 | $180,920 |
| Brian C Cox | — | Aug. 10, 2026 P | 39,700 | 1 | 0 | $995,279 |
| William M Bulger | — | Aug. 21, 2013 S | 80,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PBW · Invesco Exchange-Traded Fund Trust | 1.48% | 264,564 SH | Aug. 8, 2026 | Daily |
| ACES · ALPS ETF Trust | 1.26% | 50,925 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.31% | 2,670 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.27% | 17,034 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.20% | 81,675 NS | April 30, 2026 | N-PORT |
| CCNR · Financial Investors Trust | 0.18% | 23,466 NS | April 30, 2026 | N-PORT |
| CCSO · Tidal Trust II | 0.12% | 1,944 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.06% | 47,295 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.06% | 28,576 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.06% | 149,778 NS | April 30, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.06% | 2,650 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.05% | 305,976 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.05% | 395,969 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 57,948 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.04% | 32,362 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.03% | 148,012 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 189,734 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.03% | 1,512 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 838,877 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.02% | 114,767 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 145,916 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.02% | 4,782 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 1,182 NS | May 31, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.01% | 9,637 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 1,473 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 1,193 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 3,008 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.01% | 1,469 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.01% | 4,188 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 356,666 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 379,667 SH | Aug. 8, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.01% | 241,872 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.01% | 39,210 SH | Aug. 8, 2026 | Daily |
| EBI · RBB Fund Trust | 0.01% | 1,204 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.01% | 21,785 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.01% | 409 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.01% | 84,378 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,144 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 30 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 8,597 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 13,774 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,158 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 18,500 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 47,580 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 8,131 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 755 NS | April 30, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 755 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,041,295 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,741 SH | Aug. 8, 2026 | Daily |