AVA Avista Corporation Common Stock
$38.86
Price · Aug 19, 2026
Fundamentals as of Aug 3, 2026
52W Range
$36–$44
42% of range
Analyst Rating
HOLD
14 analysts
Price Target
$41
+6% upside
P/E (TTM)
16.4
ROE
7.3%
Net Profit Margin
9.8%
About Avista Corporation Common Stock Company overview from Wikipedia
Avista Corporation is an American energy company which generates and transmits electricity and distributes natural gas to residential, commercial, and industrial customers. Approximately 1,550 employees provide electricity, natural gas, and other energy services to 422,000 electric and 383,000 natural gas customers in three western states. The service territory covers 30,000 square miles (78,000 km2) in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a population of 1.5 million.
Read more
Avista Corporation is an American energy company which generates and transmits electricity and distributes natural gas to residential, commercial, and industrial customers. Approximately 1,550 employees provide electricity, natural gas, and other energy services to 422,000 electric and 383,000 natural gas customers in three western states. The service territory covers 30,000 square miles (78,000 km2) in eastern Washington, northern Idaho, and parts of southern and eastern Oregon, with a population of 1.5 million.
Avista Utilities is the regulated business unit of Avista Corp., an investor-owned utility headquartered in Spokane, Washington. Avista Corp.'s primary, non-utility subsidiary was Ecova, an energy and sustainability management company with over 700 expense management customers, representing more than 600,000 sites. In 2014, Ecova was sold to Cofely, a subsidiary of GDF Suez.
The company was founded 137 years ago in 1889 as Washington Water Power Company. The board of directors approved a name change to Avista Corporation, effective January 1, 1999, and the company began trading under the Avista name on Monday, January 4.
At that time, the company also bought naming rights for Spokane's minor league baseball park, Avista Stadium.
History
Washington Water Power was incorporated in March 1889 with the aim of generating hydroelectric power from the Spokane River. Earlier in 1889, F. Rockwood Moore, then affiliated with the Edison Electric Illuminating Company, purchased property on both sides of the Spokane Rvier with the intent of developing a power plant for the company. Because of skepticism as to the reliability of hydro power from Eastern investors, and high royalties from Edison Electric, local businessmen including Mr. Moore incorporated the company, sought investors for the new company to build the project.
In the 1890s through the 1930s, Washington Water Power bought up streetcar companies in the city of Spokane and had cornered the transportation market by 1900. Despite seeing a peak in 1910, ridership declined through the 1930s and Washington Water Power's final streetcar line closed in 1936. The company would never again seek to enter the public transportation market.
In 1892 Washington Water Power purchased a park called Twickenham Park on the banks of the Spokane River. The company renamed the attraction Natatorium Park and expanded it with a large swimming pool in 1895 and it became an all-purpose recreation site for the city. Washington Water Power eventually sold the park in 1929.
Washington Water Power expanded in Oregon and into California by acquiring the natural gas operations of CP National from Alltel in 1989. The California operations were sold to Southwest Gas in 2005.
In 2014, Avista acquired Alaska Electric Light & Power, the electric utility for Juneau in an all stock transaction worth $170 million.
Avista supports adoption of electric vehicles. In 2016, Avista proposed a two-year pilot program that would install 265 charging stations for electric cars in the eastern part of Washington state. The program was estimated to cost around $3.1 million. It would install fast electric vehicle charging stations in 120 homes, 100 workplaces, and 45 public areas.
In 2017, Ontario-based electrical utility Hydro One agreed to purchase Avista.
In December 2018, The Washington Utilities and Transportation Commission rejected the proposed takeover by Hydro-One, saying the Ontario government (its largest shareholder) led by recently elected premier Doug Ford, had interfered politically in Hydro One's business affairs, most glaringly ordering the removal of CEO Mayo Schmidt, who he dubbed "the Six Million Dollar Man" during the election, and vowing to fire him if elected.
Lawsuits
On September 27, 2002, Avista was sued for issuing false and misleading statements concerning its business and financial condition, including failing to disclose that Avista was engaged in highly risky energy trading activities with Enron and Portland General Electric. On December 20, 2007, Avista agreed to a $9.5 million settlement.
Restatement
On February 20, 2002, the company voluntarily adjusted the amount originally allocated to IPR&D, stating its intent to restate its third quarter 1998 consolidated financial statements accordingly.
Other media
In the movie Vision Quest, Matthew Modine's character Louden Swain can be seen running over the Monroe Street Bridge with “Washington Water Power” prominently displayed in the background on the historic Washington Water Power Post Street Electric Substation.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
AVA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$38.86
Market Cap
$3.21B
P/E (TTM)
16.4
EPS (TTM)
$2.38
Revenue (TTM)
$1.96B
Div Yield
5.0%
ROE
7.3%
Debt/Equity
0.1
52W Range
$36 – $44
AVA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.96B
2016-12-31
→
2025-12-31
EPS
$2.38
2016-12-31
→
2025-12-31
Free Cash Flow
$-101M
2016-12-31
→
2025-12-31
Margins
9.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AVA
Peer Median
P/E (TTM)
16.4
20.8
P/S (TTM)
1.6
2.7
P/B
1.2
1.6
EV / EBITDA
5.6
—
Price / FCF
-31.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AVA
Peer Median
Operating Margin
18.0%
—
Net Profit Margin
9.8%
12.4%
ROA
2.4%
2.7%
ROE
7.3%
9.5%
ROIC
10.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AVA
Peer Median
Debt / Equity
0.1
—
Current Ratio
0.8
0.8
Quick Ratio
0.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AVA
Peer Median
Revenue YoY
1.3%
—
Revenue CAGR 3Y
4.7%
—
Revenue CAGR 5Y
8.2%
—
EPS YoY
3.9%
—
Net Income YoY
7.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AVA
Peer Median
Payout Ratio
82.4%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
5.0%
Payout Ratio
82.4%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| May 19, 2026 | $0.4930 |
| Feb. 25, 2026 | $0.4930 |
| Nov. 24, 2025 | $0.4900 |
| Aug. 19, 2025 | $0.4900 |
| May 13, 2025 | $0.4900 |
| Feb. 26, 2025 | $0.4900 |
| Nov. 26, 2024 | $0.4750 |
| Aug. 22, 2024 | $0.4750 |
| May 22, 2024 | $0.4750 |
| Feb. 22, 2024 | $0.4750 |
| Nov. 16, 2023 | $0.4600 |
| Aug. 17, 2023 | $0.4600 |
| May 25, 2023 | $0.4600 |
| Feb. 16, 2023 | $0.4600 |
| Nov. 17, 2022 | $0.4400 |
| Aug. 18, 2022 | $0.4400 |
| May 26, 2022 | $0.4400 |
| Feb. 17, 2022 | $0.4400 |
| Nov. 18, 2021 | $0.4230 |
| Aug. 18, 2021 | $0.4230 |
AVA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
14 analysts
- Strong Buy 1 7.1%
- Buy 0 0.0%
- Hold 7 50.0%
- Sell 5 35.7%
- Strong Sell 1 7.1%
12-Month Price Target
6 analysts · 2026-08-14
Median
$40.50
Now
$38.86
Low
$37.00
High
$50.00
Median target
$40.50
+4.2%
Mean target
$41.33
+6.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.43 | $0.24 | 0.19% |
| March 31, 2026 | $1.10 | $1.04 | 0.06% |
| Dec. 31, 2025 | $0.88 | $1.03 | -0.15% |
| Sept. 30, 2025 | $0.36 | $0.29 | 0.07% |
| June 30, 2025 | $0.17 | $0.31 | -0.14% |
| March 31, 2025 | $0.98 | $1.04 | -0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AVA | $3.17B | 16.2 | 1.3% | 9.8% | 7.3% | — |
| CNP | $25.03B | 24.0 | 8.3% | 11.2% | 9.5% | — |
| CMS | $21.43B | 19.8 | 13.6% | 12.5% | 12.3% | — |
| NI | $19.98B | 21.4 | 23.5% | 14.2% | 10.2% | — |
| BKH | $5.24B | 17.4 | 8.6% | 12.6% | 8.0% | — |
| NWE | $3.96B | 22.0 | 6.4% | 11.2% | 6.3% | — |
| NWE | $3.96B | 22.0 | 6.4% | 11.2% | 6.3% | — |
| UTL | $868M | 16.3 | 8.3% | 9.4% | 8.9% | — |
| D | $51.50B | 17.0 | 14.2% | 18.2% | 10.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.96B | $1.94B | $1.75B | $1.71B | $1.44B | $1.32B | $1.35B | $1.40B | $1.45B | $1.44B | $1.48B | $1.47B | |
| Operating Expenses | $1.61B | $1.63B | $1.49B | $1.52B | $1.21B | $1.09B | $1.14B | $1.14B | $1.15B | $1.14B | $1.23B | $1.22B | |
| Operating Income | $354M | $306M | $258M | $190M | $228M | $233M | $210M | $261M | $292M | $300M | $253M | $253M | |
| Interest Expense | · | · | · | · | · | · | $103M | $100M | $95M | $86M | $80M | $75M | |
| Interest Income | $12M | $14M | $15M | $4M | $2M | $2M | $3M | $3M | $2M | $2M | $653.0K | $987.0K | |
| Other Non-op | $11M | $22M | $19M | $63M | $33M | $5M | $15M | $-1M | $-607.0K | $20.0K | $9M | $11M | |
| Pretax Income | $217M | $183M | $137M | $138M | $159M | $137M | $228M | $163M | $199M | $215M | $186M | $192M | |
| Income Tax | $24M | $3M | $-34M | $-17M | $12M | $7M | $31M | $26M | $83M | $78M | $67M | $72M | |
| Net Income | $193M | $180M | $171M | $155M | $147M | $129M | $197M | $136M | $116M | $137M | $123M | $192M | |
| EPS (Basic) | $2.38 | $2.29 | $2.24 | $2.13 | $2.11 | $1.91 | $2.98 | $2.08 | $1.80 | $2.16 | $1.98 | $3.12 | |
| EPS (Diluted) | $2.38 | $2.29 | $2.24 | $2.12 | $2.10 | $1.90 | $2.97 | $2.07 | $1.79 | $2.15 | $1.97 | $3.10 | |
| Shares (Basic) | 80,975,000 | 78,725,000 | 76,396,000 | 72,989,000 | 69,951,000 | 67,962,000 | 66,205,000 | 65,673,000 | 64,496,000 | 63,508,000 | 62,301,000 | 61,632,000 | |
| Shares (Diluted) | 81,051,000 | 78,820,000 | 76,495,000 | 73,093,000 | 70,085,000 | 68,102,000 | 66,329,000 | 65,946,000 | 64,806,000 | 63,920,000 | 62,708,000 | 61,887,000 | |
| EBITDA | $643M | $580M | $523M | $443M | $460M | $457M | $416M | $448M | $460M | $455M | $401M | $391M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $19M | $30M | $35M | $13M | $22M | $14M | $10M | $15M | $16M | $9M | $10M | $22M | |
| Receivables | $220M | $205M | · | · | · | · | · | · | · | · | · | · | |
| Inventory | $236M | $193M | $160M | $108M | $85M | $67M | $67M | $64M | $58M | $53M | $54M | $66M | |
| Prepaid Expense | $56M | $37M | $53M | $30M | $24M | $24M | $20M | $18M | $12M | · | · | · | |
| Other Current Assets | $119M | $91M | $104M | $151M | $81M | $85M | $40M | $54M | $33M | $50M | $31M | $45M | |
| Current Assets | $729M | $656M | $662M | $722M | $434M | $344M | $305M | $347M | $338M | $351M | $306M | $395M | |
| PP&E (Gross) | $8.89B | $8.42B | $7.98B | $7.73B | $7.37B | $6.99B | $6.63B | $6.37B | $6.01B | $5.66B | $5.33B | $4.95B | |
| Goodwill | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $58M | $58M | $58M | $58M | $58M | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Other Non-current Assets | $23M | $20M | $16M | $15M | $11M | $27M | $23M | $23M | $21M | $141M | $144M | $151M | |
| Total Assets | $8.36B | $7.94B | $7.70B | $7.42B | $6.85B | $6.40B | $6.08B | $5.78B | $5.51B | $5.31B | $4.91B | $4.70B | |
| Accounts Payable | $163M | $125M | $143M | $203M | $133M | $107M | $110M | $108M | $107M | $116M | $114M | $113M | |
| Accrued Liabilities | $54M | $51M | $54M | $50M | $39M | $35M | $35M | $33M | $34M | · | · | · | |
| Short-term Debt | $388M | $354M | $349M | $463M | $284M | $203M | $186M | $190M | $105M | $120M | · | · | |
| Current Liabilities | $878M | $771M | $775M | $965M | $913M | $506M | $531M | $640M | $698M | $408M | $475M | $385M | |
| Capital Leases | $60M | $62M | $64M | $64M | $66M | $68M | $66M | $0 | · | · | · | · | |
| Deferred Tax | $778M | $751M | $718M | $675M | $643M | $595M | $529M | $488M | $467M | $841M | $747M | $710M | |
| Other Non-current Liabilities | $305M | $253M | $210M | $176M | $178M | $215M | $201M | $71M | $73M | $153M | $131M | $146M | |
| Total Liabilities | $5.65B | $5.35B | $5.22B | $5.08B | $4.70B | $4.37B | $4.14B | $4.01B | $3.78B | $3.66B | $3.38B | $3.22B | |
| Long-term Debt | · | · | · | $2.29B | $2.15B | $2.01B | $1.84B | · | · | · | · | · | |
| Total Debt | $388M | $354M | $364M | $2.76B | $2.43B | $2.21B | $186M | $190M | $105M | · | · | · | |
| Common Stock | $1.80B | $1.72B | $1.64B | $1.53B | $1.38B | $1.29B | $1.21B | $1.14B | $1.13B | $1.08B | $1.00B | $1000M | |
| Retained Earnings | $905M | $871M | $841M | $812M | $786M | $758M | $739M | $645M | $604M | $581M | $531M | $492M | |
| AOCI | $-1M | · | $-357.0K | $-2M | $-11M | $-14M | $-10M | $-8M | $-8M | $-8M | $-7M | $-8M | |
| Stockholders' Equity | $2.71B | $2.59B | $2.48B | $2.33B | $2.15B | $2.03B | $1.94B | $1.77B | $1.73B | $1.65B | $1.53B | $1.48B | |
| Liabilities + Equity | $8.36B | $7.94B | $7.70B | $7.42B | $6.85B | $6.40B | $6.08B | $5.78B | $5.51B | $5.31B | $4.91B | $4.70B | |
| Shares Outstanding | 82,193,000 | 80,039,000 | 78,075,000 | 74,946,000 | 71,498,000 | 69,238,901 | 67,176,996 | 65,688,356 | 65,494,333 | 64,187,934 | 62,312,651 | 62,243,374 |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $289M | $274M | $265M | $253M | $232M | $224M | $206M | $187M | $176M | $165M | $148M | $138M | |
| Stock-based Comp | $9M | $9M | $8M | $9M | $5M | $6M | $11M | $5M | $7M | $8M | $7M | $8M | |
| Deferred Tax | $2M | $-5M | $-37M | $-18M | $11M | $45M | $15M | $9M | $70M | $125M | $55M | $139M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | $6M | |
| Other Non-cash | $-24M | $76M | $39M | $-275M | $-128M | $-74M | $-31M | $24M | $42M | $-76M | $46M | $-215M | |
| Operating Cash Flow | $469M | $534M | $447M | $124M | $267M | $331M | $398M | $362M | $410M | $358M | $376M | $267M | |
| CapEx | $570M | $533M | $499M | $452M | $440M | $404M | $443M | $424M | $412M | $407M | $393M | $326M | |
| Investing Cash Flow | $-564M | $-539M | $-510M | $-460M | $-445M | $-411M | $-446M | $-440M | $-434M | $-432M | $-388M | $-104M | |
| Debt Issued | $140M | $84M | $250M | $400M | $140M | $165M | $180M | $375M | $90M | $245M | $100M | $150M | |
| Net Debt Issued | $140M | $84M | $250M | $400M | $137M | $165M | $180M | $375M | $87M | $82M | $97M | $110M | |
| Stock Issued | $78M | $68M | $113M | $137M | $90M | $72M | $65M | $1M | $56M | $67M | $2M | $4M | |
| Stock Repurchased | · | · | · | · | · | · | · | · | $0 | $0 | $3M | $80M | |
| Net Stock Activity | $78M | $68M | $112M | $138M | $90M | $72M | $65M | $1M | $56M | $67M | $-1M | $-76M | |
| Dividends Paid | $159M | $150M | $141M | $129M | $118M | $110M | $103M | $98M | $92M | $87M | $82M | $78M | |
| Financing Cash Flow | $84M | $0 | $85M | $327M | $186M | $84M | $43M | $77M | $31M | $72M | $528.0K | $-224M | |
| Net Change in Cash | $-11M | $-5M | $22M | $-9M | $8M | $4M | $-5M | $-2M | $8M | $-2M | $-12M | $-60M | |
| Taxes Paid | $28M | $11M | $2M | · | · | · | · | · | · | $-13M | $-10M | $45M | |
| Free Cash Flow | $-101M | $1M | $-52M | $-328M | $-173M | $-73M | $-44M | $-62M | $-2M | $-48M | $-18M | $-58M | |
| Levered FCF | · | · | · | · | · | · | $-133M | $-146M | $-58M | $-104M | $-69M | $-105M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.0% | 15.8% | 14.7% | 11.1% | 15.9% | 17.6% | 15.6% | 18.7% | 19.7% | 20.1% | 17.1% | 17.2% | |
| Net Margin | 9.8% | 9.3% | 9.8% | 9.1% | 10.2% | 9.8% | 14.6% | 9.8% | 8.0% | 9.5% | 8.3% | 13.0% | |
| Pretax Margin | 11.1% | 9.4% | 7.8% | 8.1% | 11.1% | 10.3% | 17.0% | 11.6% | 13.7% | 14.9% | 12.5% | 13.1% | |
| EBITDA Margin | 32.7% | 29.9% | 29.9% | 25.9% | 32.0% | 34.6% | 30.9% | 32.1% | 31.8% | 31.5% | 27.0% | 26.6% | |
| ROA | 2.4% | 2.3% | 2.3% | 2.2% | 2.2% | 2.1% | 3.3% | 2.4% | 2.1% | 2.7% | 2.6% | 4.4% | |
| ROE | 7.3% | 7.0% | 7.0% | 6.8% | 6.9% | 6.5% | 10.3% | 7.8% | 6.8% | 8.4% | 8.1% | 12.9% | |
| ROIC | 10.2% | 10.2% | 11.3% | 4.2% | 4.6% | 5.2% | 8.5% | 11.2% | 9.0% | 11.2% | 10.5% | 10.6% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.9 | 0.9 | 0.7 | 0.5 | 0.7 | 0.6 | 0.5 | 0.5 | 0.9 | 0.6 | 1.0 | |
| Quick Ratio | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.1 | |
| Debt / Equity | 0.1 | 0.1 | 0.1 | 1.2 | 1.1 | 1.1 | 0.1 | 0.1 | 0.1 | · | · | · | |
| LT Debt / Equity | · | · | · | 1.0 | 0.9 | 1.0 | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | 2.0 | 2.6 | 3.0 | 3.4 | 3.2 | 3.4 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.3 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.3% | 10.6% | 2.5% | 18.8% | 8.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 4.7% | 10.4% | 9.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 8.2% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 3.9% | 2.2% | 5.7% | 0.95% | 10.5% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 3.9% | 2.9% | 5.6% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 4.6% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 7.2% | 5.3% | 10.3% | 5.2% | 13.8% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 7.6% | 6.9% | 9.7% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 8.3% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 7.6% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.96B | $1.94B | $1.75B | $1.71B | $1.44B | $1.32B | $1.35B | $1.40B | $1.45B | $1.44B | $1.48B | $1.47B | |
| Net Income TTM | $193M | $180M | $171M | $155M | $147M | $129M | $197M | $136M | $116M | $137M | $123M | $192M | |
| Market Cap | $3.17B | $2.93B | $2.79B | $3.32B | $3.04B | $2.78B | $3.23B | $2.79B | $3.37B | $2.57B | $2.20B | $2.20B | |
| Enterprise Value | $3.54B | $3.26B | $3.12B | $6.07B | $5.45B | $4.98B | $3.41B | $2.97B | $3.46B | · | · | · | |
| P/E | 16.2 | 16.0 | 16.0 | 20.9 | 20.2 | 21.1 | 16.2 | 20.5 | 28.8 | 18.6 | 18.0 | 11.4 | |
| P/S | 1.6 | 1.5 | 1.6 | 1.9 | 2.1 | 2.1 | 2.4 | 2.0 | 2.3 | 1.8 | 1.5 | 1.5 | |
| P/B | 1.2 | 1.1 | 1.1 | 1.4 | 1.4 | 1.4 | 1.7 | 1.6 | 1.9 | 1.6 | 1.4 | 1.5 | |
| P / Tangible Book | 1.2 | 1.2 | 1.1 | 1.5 | 1.4 | 1.4 | · | · | · | · | · | · | |
| P / Cash Flow | 6.8 | 5.5 | 6.2 | 26.8 | 11.4 | 8.4 | 8.1 | 7.7 | 8.2 | 7.2 | 5.9 | 8.2 | |
| P / FCF | -31.4 | 2931.8 | -54.1 | -10.1 | -17.6 | -37.9 | -72.9 | -44.7 | -1652.3 | -53.1 | -123.9 | -37.8 | |
| EV / EBITDA | 5.5 | 5.6 | 6.0 | 13.7 | 11.8 | 10.9 | 8.2 | 6.6 | 7.5 | · | · | · | |
| EV / FCF | -35.0 | 3255.8 | -60.5 | -18.5 | -31.6 | -67.9 | -76.9 | -47.5 | -1696.0 | · | · | · | |
| EV / Revenue | 1.8 | 1.7 | 1.8 | 3.5 | 3.8 | 3.8 | 2.5 | 2.1 | 2.4 | · | · | · | |
| Dividend Yield | 5.0% | 5.1% | 5.1% | 3.9% | 3.9% | 4.0% | 3.2% | 3.5% | 2.7% | 3.4% | 3.7% | 3.6% | |
| Earnings Yield | 6.2% | 6.2% | 6.3% | 4.8% | 4.9% | 4.7% | 6.2% | 4.9% | 3.5% | 5.4% | 5.6% | 8.8% | |
| Payout Ratio | 82.4% | 83.3% | 82.3% | 83.2% | 80.2% | 85.2% | 52.2% | 71.9% | 79.8% | 63.5% | 66.9% | 40.8% | |
| Annual Payout | $159M | $150M | $141M | $129M | $118M | $110M | $103M | $98M | $92M | $87M | $82M | $78M |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $413M | $570M | $533M | $403M | $411M | $617M | $533M | $394M | $402M | $609M | $518M | $380M | $380M | $475M | $510M | $359M | |
| Operating Expenses | $359M | $436M | $421M | $343M | $354M | $492M | $432M | $345M | $347M | $508M | $418M | $342M | $336M | $398M | $447M | $340M | |
| Operating Income | $54M | $134M | $112M | $60M | $57M | $125M | $101M | $49M | $55M | $101M | $100M | $38M | $44M | $77M | $63M | $19M | |
| Interest Income | $2M | $4M | $3M | $4M | $3M | $2M | $4M | $3M | $3M | $4M | · | · | · | · | · | · | |
| Other Non-op | $4M | $9M | $5M | $9M | $2M | $3M | $3M | $5M | $5M | $9M | $3M | $7M | $3M | $6M | $40M | $4M | |
| Pretax Income | $41M | $105M | $80M | $31M | $15M | $91M | $68M | $18M | $24M | $73M | $66M | $11M | $12M | $48M | $72M | $-6M | |
| Income Tax | $6M | $13M | $9M | $2M | $1M | $12M | $0 | $0 | $1M | $2M | $-18M | $-4M | $-6M | $-7M | $-5M | $157.0K | |
| Net Income | $35M | $92M | $71M | $29M | $14M | $79M | $68M | $18M | $23M | $71M | $84M | $15M | $17M | $55M | $78M | $-6M | |
| EPS (Basic) | $0.43 | $1.11 | $0.87 | $0.36 | $0.17 | $0.98 | $0.86 | $0.23 | $0.29 | $0.91 | $1.09 | $0.19 | $0.23 | $0.73 | $1.05 | $-0.08 | |
| EPS (Diluted) | $0.43 | $1.11 | $0.87 | $0.36 | $0.17 | $0.98 | $0.86 | $0.23 | $0.29 | $0.91 | $1.09 | $0.19 | $0.23 | $0.73 | $1.05 | $-0.08 | |
| Shares (Basic) | 83,060,000 | 82,339,000 | -161,190,000 | 81,232,000 | 80,715,000 | 80,218,000 | -156,662,000 | 78,836,000 | 78,390,000 | 78,161,000 | -151,490,000 | 76,734,000 | 75,983,000 | 75,169,000 | -144,651,000 | 73,229,000 | |
| Shares (Diluted) | 83,109,000 | 82,354,000 | -161,310,000 | 81,278,000 | 80,774,000 | 80,309,000 | -156,815,000 | 78,968,000 | 78,456,000 | 78,211,000 | -151,672,000 | 76,761,000 | 76,131,000 | 75,275,000 | -144,793,000 | 73,298,000 | |
| EBITDA | $54M | $201M | · | $60M | $57M | $196M | · | $49M | $54M | $169M | · | $38M | $44M | $142M | · | $19M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25M | $18M | $19M | $44M | $9M | $17M | $30M | $9M | $15M | $12M | · | $9M | $16M | $11M | · | $14M | |
| Receivables | $153M | $195M | · | $155M | $170M | $216M | · | · | · | · | · | · | · | · | · | · | |
| Inventory | $264M | $241M | $236M | $228M | $216M | $202M | $193M | $186M | $176M | $164M | · | $145M | $116M | $102M | · | $123M | |
| Prepaid Expense | $61M | $45M | $56M | $49M | $55M | $60M | $37M | $40M | $52M | $56M | · | $51M | $48M | $47M | · | $22M | |
| Other Current Assets | $94M | $97M | $119M | $109M | $150M | $127M | $91M | $71M | $77M | $83M | · | $94M | $90M | $117M | · | $101M | |
| Current Assets | $715M | $735M | $729M | $665M | $667M | $667M | $656M | $525M | $551M | $562M | · | $547M | $527M | $656M | · | $464M | |
| PP&E (Gross) | $8.96B | $8.78B | $8.89B | $8.73B | $8.64B | $8.50B | $8.42B | $8.31B | $8.17B | $8.04B | · | $7.91B | $7.79B | $7.68B | · | $7.62B | |
| Goodwill | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | $52M | · | $52M | $52M | $52M | · | $52M | |
| Other Non-current Assets | $8M | $25M | $23M | $23M | $22M | $26M | $20M | $20M | $18M | $16M | · | $23M | $17M | $16M | · | $11M | |
| Total Assets | $8.54B | $8.41B | $8.36B | $8.16B | $8.06B | $7.97B | $7.94B | $7.78B | $7.68B | $7.65B | $7.70B | $7.47B | $7.37B | $7.39B | $7.42B | $7.06B | |
| Accounts Payable | $130M | $119M | $163M | $118M | $111M | $113M | $125M | $105M | $105M | $103M | · | $105M | $104M | $112M | · | $113M | |
| Accrued Liabilities | $43M | $44M | $54M | $59M | $56M | $59M | $51M | $54M | $44M | $44M | · | $45M | $36M | $35M | · | $42M | |
| Short-term Debt | $226M | $385M | $388M | $287M | $270M | $287M | $354M | $287M | $244M | $212M | · | $222M | $203M | $231M | · | $268M | |
| Current Liabilities | $650M | $820M | $878M | $729M | $668M | $721M | $771M | $700M | $625M | $580M | · | $583M | $541M | $605M | · | $685M | |
| Capital Leases | $61M | $61M | $60M | $64M | $63M | $62M | $62M | $65M | $65M | $64M | · | $67M | $67M | $66M | · | $68M | |
| Deferred Tax | $808M | $793M | $778M | $770M | $757M | $745M | $751M | $726M | $719M | $712M | · | $726M | $704M | $694M | · | $666M | |
| Other Non-current Liabilities | $344M | $329M | $305M | $294M | $279M | $269M | $253M | $248M | $242M | $233M | · | $213M | $207M | $195M | · | $177M | |
| Total Liabilities | $5.71B | $5.63B | $5.65B | $5.52B | $5.42B | $5.32B | $5.35B | $5.25B | $5.16B | $5.13B | · | $5.06B | $4.97B | $5.01B | · | $4.82B | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | $2.54B | · | $2.29B | |
| Total Debt | $226M | $385M | · | $287M | $270M | $287M | · | $302M | $259M | $227M | · | $222M | $210M | $2.77B | · | $2.56B | |
| Common Stock | $1.87B | $1.82B | $1.80B | $1.77B | $1.76B | $1.74B | $1.72B | $1.69B | $1.67B | $1.65B | · | $1.62B | $1.59B | $1.56B | · | $1.48B | |
| Retained Earnings | $951M | $956M | $905M | $874M | $885M | $912M | $871M | $842M | $861M | $876M | · | $793M | $814M | $832M | · | $767M | |
| AOCI | $-1M | $-1M | $-1M | · | · | · | · | $-375.0K | $-366.0K | $-366.0K | · | $-2M | $-2M | $-2M | · | $-10M | |
| Stockholders' Equity | $2.82B | $2.78B | $2.71B | $2.65B | $2.65B | $2.65B | $2.59B | $2.53B | $2.53B | $2.52B | $2.48B | $2.41B | $2.40B | $2.39B | $2.33B | $2.23B | |
| Liabilities + Equity | $8.54B | $8.41B | $8.36B | $8.16B | $8.06B | $7.97B | $7.94B | $7.78B | $7.68B | $7.65B | · | $7.47B | $7.37B | $7.39B | · | $7.06B | |
| Shares Outstanding | 83,752,000 | 82,638,000 | 82,193,000 | 81,370,000 | 81,109,000 | 80,561,000 | 80,039,000 | 79,180,956 | 78,702,117 | 78,187,093 | 78,075,000 | 77,364,125 | 76,524,184 | 75,762,598 | 74,946,000 | 73,774,804 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $68M | $67M | $73M | $73M | $72M | $71M | $70M | $68M | $68M | $68M | $67M | $67M | $66M | $65M | $64M | $64M | |
| Stock-based Comp | $6M | $3M | $1M | $1M | $4M | $3M | $1M | $2M | $4M | $2M | $902.0K | $2M | $3M | $2M | $2M | $3M | |
| Deferred Tax | $8M | $6M | $4M | $3M | $6M | $-11M | $20M | $-2M | $-4M | $-19M | $-21M | $5M | $-10M | $-10M | $1M | $-7M | |
| Other Non-cash | · | $11M | · | · | · | $42M | · | · | · | $67M | · | · | · | $-18M | · | · | |
| Operating Cash Flow | $122M | $179M | $75M | $170M | $40M | $184M | $90M | $127M | $127M | $190M | $54M | $124M | $175M | $94M | $-86M | $4M | |
| CapEx | $176M | $150M | $191M | $133M | $143M | $103M | $128M | $154M | $132M | $119M | $140M | $133M | $126M | $100M | $121M | $121M | |
| Investing Cash Flow | $-186M | $-148M | $-191M | $-125M | $-145M | $-103M | $-129M | $-156M | $-136M | $-118M | $-141M | $-135M | $-128M | $-106M | $-120M | $-121M | |
| Debt Issued | · | · | $0 | $140M | · | · | $0 | $300.0K | · | · | $0 | $0 | $0 | $250M | $144.0K | $0 | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | $250M | · | · | |
| Stock Issued | $44M | $14M | $33M | $10M | $19M | $16M | $32M | $18M | $18M | $0 | $25M | $29M | $30M | $30M | $44M | $32M | |
| Net Stock Activity | $44M | $14M | · | $10M | $19M | $16M | · | $18M | $18M | $115.0K | · | $29M | $30M | $30M | · | $32M | |
| Dividends Paid | $40M | $41M | $40M | $40M | $39M | $40M | $38M | $37M | $37M | $38M | $36M | $35M | $35M | $35M | $33M | $32M | |
| Financing Cash Flow | $71M | $-32M | $91M | $-10M | $97M | $-94M | $60M | $23M | $12M | $-95M | $115M | $4M | $-42M | $9M | $205M | $109M | |
| Net Change in Cash | $7M | $-1M | $-25M | $35M | $-8M | $-13M | $21M | $-6M | $3M | $-23M | $27M | $-7M | $5M | $-3M | $-1M | $-7M | |
| Free Cash Flow | · | $29M | · | · | · | $81M | · | · | · | $71M | · | · | · | $-6M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.1% | 23.5% | · | 14.9% | 13.9% | 20.3% | · | 12.4% | 13.5% | 16.6% | · | 10.0% | 11.5% | 16.1% | · | 5.4% | |
| Net Margin | 8.5% | 16.1% | · | 7.2% | 3.4% | 12.8% | · | 4.7% | 5.7% | 11.7% | · | 3.9% | 4.6% | 11.6% | · | -1.6% | |
| Pretax Margin | 9.9% | 18.4% | · | 7.7% | 3.6% | 14.8% | · | 4.6% | 5.8% | 12.1% | · | 2.9% | 3.1% | 10.2% | · | -1.6% | |
| EBITDA Margin | 13.1% | 35.3% | · | 14.9% | 13.9% | 31.8% | · | 12.4% | 13.5% | 27.7% | · | 10.0% | 11.5% | 29.9% | · | 5.4% | |
| ROA | 0.42% | 1.1% | · | 0.36% | 0.18% | 1.0% | · | 0.24% | 0.30% | 0.95% | · | 0.20% | 0.24% | 0.76% | · | -0.08% | |
| ROE | 1.3% | 3.4% | · | 1.1% | 0.54% | 3.1% | · | 0.75% | 0.93% | 2.9% | · | 0.63% | 0.75% | 2.4% | · | -0.27% | |
| ROIC | 1.5% | 3.7% | · | 1.9% | 1.8% | 3.7% | · | 1.8% | 1.9% | 3.6% | · | 1.9% | 2.5% | 1.7% | · | 0.42% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 0.9 | · | 0.9 | 1.0 | 0.9 | · | 0.7 | 0.9 | 1.0 | · | 0.9 | 1.0 | 1.1 | · | 0.7 | |
| Quick Ratio | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Debt / Equity | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 1.2 | · | 1.1 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.1 | · | 1.0 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 2.6 | 2.8 | · | 5.2 | 4.8 | 5.7 | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.80B | $2.00B | · | $1.82B | $1.82B | $2.02B | · | $1.78B | $1.77B | $1.84B | · | $1.59B | $1.59B | $1.67B | · | $1.50B | |
| Net Income TTM | $170M | $214M | · | $140M | $134M | $191M | · | $127M | $126M | $158M | · | $81M | $78M | $132M | · | $92M | |
| Market Cap | $3.43B | $3.32B | · | $3.08B | $3.08B | $3.37B | · | $3.07B | $2.72B | $2.74B | · | $2.50B | $3.01B | $3.22B | · | $2.73B | |
| Enterprise Value | $3.63B | $3.68B | · | $3.32B | $3.34B | $3.64B | · | $3.36B | $2.97B | $2.95B | · | $2.72B | $3.20B | $5.98B | · | $5.28B | |
| P/E | 19.8 | 15.3 | · | 21.7 | 22.7 | 17.4 | · | 23.9 | 21.4 | 17.0 | · | 30.3 | 37.8 | 23.6 | · | 29.2 | |
| P/S | 1.9 | 1.7 | · | 1.7 | 1.7 | 1.7 | · | 1.7 | 1.5 | 1.5 | · | 1.6 | 1.9 | 1.9 | · | 1.8 | |
| P/B | 1.2 | 1.2 | · | 1.2 | 1.2 | 1.3 | · | 1.2 | 1.1 | 1.1 | · | 1.0 | 1.3 | 1.3 | · | 1.2 | |
| P / Tangible Book | 1.2 | 1.2 | · | 1.2 | 1.2 | 1.3 | · | 1.2 | 1.1 | 1.1 | · | 1.1 | 1.3 | 1.4 | · | 1.3 | |
| P / Cash Flow | · | 18.5 | · | · | · | 18.3 | · | · | · | 14.4 | · | · | · | 34.1 | · | · | |
| P / FCF | · | 114.4 | · | · | · | 41.6 | · | · | · | 38.3 | · | · | · | -515.1 | · | · | |
| EV / EBITDA | 67.2 | 18.3 | · | 55.3 | 58.6 | 18.6 | · | 68.9 | 54.7 | 17.5 | · | 71.3 | 73.0 | 42.2 | · | 272.2 | |
| EV / FCF | · | 127.0 | · | · | · | 45.0 | · | · | · | 41.3 | · | · | · | -957.7 | · | · | |
| EV / Revenue | 2.0 | 1.8 | · | 1.8 | 1.8 | 1.8 | · | 1.9 | 1.7 | 1.6 | · | 1.7 | 2.0 | 3.6 | · | 3.5 | |
| Earnings Yield | 5.1% | 6.5% | · | 4.6% | 4.4% | 5.8% | · | 4.2% | 4.7% | 5.9% | · | 3.3% | 2.6% | 4.2% | · | 3.4% | |
| Payout Ratio | · | 44.6% | · | · | · | 50.6% | · | · | · | 52.9% | · | · | · | 63.9% | · | · |
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 | $1.96B | $1.94B | $1.75B | $1.71B | $1.44B |
| Operating Margin % | 18.0% | 15.8% | 14.7% | 11.1% | 15.9% |
| Net Income | $193M | $180M | $171M | $155M | $147M |
| Diluted EPS | $2.38 | $2.29 | $2.24 | $2.12 | $2.10 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | 0.1 | 1.2 | 1.1 |
| Current Ratio | 0.8 | 0.9 | 0.9 | 0.7 | 0.5 |
| Quick Ratio | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-101M | $1M | $-52M | $-328M | $-173M |
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Institutional owners (13F) 446 filers · $2.0B 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 |
|---|---|---|---|---|
| 56 (+4 vs prior Q) | 33 (-5 vs prior Q) | 152 (+13 vs prior Q) | 114 (-2 vs prior Q) | +14.1M |
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 |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $294,777,660 | 7,205,516 | 15.06% | Shares |
| STATE STREET CORP | $220,478,800 | 5,389,253 | 11.27% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $153,920,561 | 3,762,419 | 7.86% | Shares |
| ATLAS Infrastructure Partners (UK) Ltd. | $93,732,133 | 2,291,179 | 4.79% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $81,056,005 | 1,981,325 | 4.14% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $78,213,487 | 1,911,441 | 4.00% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $58,514,545 | 1,430,324 | 2.99% | Shares |
| TWO SIGMA INVESTMENTS, LP | $50,827,893 | 1,242,432 | 2.60% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $47,600,299 | 1,163,537 | 2.43% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $35,828,937 | 875,799 | 1.83% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $34,890,830 | 852,868 | 1.78% | Shares |
| ALGERT GLOBAL LLC | $30,262,150 | 739,725 | 1.55% | Shares |
| GAMCO INVESTORS, INC. ET AL | $26,031,728 | 636,317 | 1.33% | Shares |
| Qube Research & Technologies Ltd | $25,044,734 | 612,191 | 1.28% | Shares |
| GOLDMAN SACHS GROUP INC | $23,241,380 | 568,110 | 1.19% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $22,396,589 | 547,460 | 1.14% | Shares |
| FMR LLC | $21,568,202 | 527,211 | 1.10% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $20,545,247 | 502,206 | 1.05% | Shares |
| GABELLI FUNDS LLC | $20,137,620 | 492,242 | 1.03% | Shares |
| Bridgewater Associates, LP | $19,308,947 | 471,986 | 0.99% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $18,398,904 | 449,741 | 0.94% | Shares |
| D. E. Shaw & Co., Inc. | $15,317,481 | 374,419 | 0.78% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $12,919,091 | 315,793 | 0.66% | Shares |
| Sound Income Strategies, LLC | $12,325,900 | 301,293 | 0.63% | Shares |
| AMERIPRISE FINANCIAL INC | $12,074,547 | 295,149 | 0.62% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $11,978,612 | 292,804 | 0.61% | Shares |
| Advisors Asset Management, Inc. | $11,896,875 | 324,785 | 0.61% | Shares |
| NUANCE INVESTMENTS, LLC | $11,824,232 | 289,030 | 0.60% | Shares |
| Public Sector Pension Investment Board | $11,612,713 | 283,860 | 0.59% | Shares |
| Cubist Systematic Strategies, LLC | $11,565,605 | 305,888 | 0.59% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $11,373,652 | 278,016 | 0.58% | Shares |
| CONGRESS ASSET MANAGEMENT CO | $11,186,808 | 273,449 | 0.57% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $10,910,697 | 266,700 | 0.56% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $10,828,509 | 264,691 | 0.55% | Shares |
| FRANKLIN RESOURCES INC | $10,565,785 | 258,269 | 0.54% | Shares |
| BlackRock, Inc. | $10,508,429 | 256,867 | 0.54% | Shares |
| LOOMIS SAYLES & CO L P | $10,298,397 | 251,733 | 0.53% | Shares |
| Brandywine Global Investment Management, LLC | $9,835,793 | 255,210 | 0.50% | Shares |
| Foundry Partners, LLC | $9,441,811 | 225,503 | 0.48% | Shares |
| NORGES BANK | $8,944,972 | 218,650 | 0.46% | Shares |
| RWC Asset Management LLP | $8,856,524 | 216,488 | 0.45% | Shares |
| Man Group plc | $8,680,325 | 212,181 | 0.44% | Shares |
| Meiji Yasuda Asset Management Co Ltd. | $8,660,811 | 211,704 | 0.44% | Shares |
| RHUMBLINE ADVISERS | $8,622,082 | 210,758 | 0.44% | Shares |
| PRUDENTIAL FINANCIAL INC | $8,467,184 | 206,971 | 0.43% | Shares |
| Bruce & Co., Inc. | $8,182,000 | 200,000 | 0.42% | Shares |
| AMERICAN CENTURY COMPANIES INC | $7,943,208 | 194,163 | 0.41% | Shares |
| Trexquant Investment LP | $7,818,924 | 191,125 | 0.40% | Shares |
| Legal & General Group Plc | $7,711,290 | 188,494 | 0.39% | Shares |
| ProShare Advisors LLC | $6,981,046 | 170,644 | 0.36% | Shares |
| CWA Asset Management Group, LLC | $6,863,208 | 167,764 | 0.35% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,775,719 | 165,625 | 0.35% | Shares |
| Swiss National Bank | $6,774,696 | 165,600 | 0.35% | Shares |
| Edgestream Partners, L.P. | $6,309,222 | 154,222 | 0.32% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $6,237,057 | 152,458 | 0.32% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,595,793 | 136,783 | 0.29% | Shares |
| MORGAN STANLEY | $5,514,259 | 134,790 | 0.28% | Shares |
| Moody Aldrich Partners LLC | $5,436,857 | 132,898 | 0.28% | Shares |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS | $5,394,720 | 131,868 | 0.28% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $4,586,052 | 112,101 | 0.23% | Shares |
| JPMORGAN CHASE & CO | $4,494,617 | 105,094 | 0.23% | Shares |
| TWO SIGMA ADVISERS, LP | $4,281,794 | 111,100 | 0.22% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $4,249,526 | 103,875 | 0.22% | Shares |
| Mariner, LLC | $4,225,951 | 103,297 | 0.22% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,030,819 | 100,419 | 0.21% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $3,891,359 | 95,120 | 0.20% | Shares |
| Engineers Gate Manager LP | $3,876,754 | 94,763 | 0.20% | Shares |
| IEQ CAPITAL, LLC | $3,872,848 | 94,667 | 0.20% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,826,426 | 95,327 | 0.20% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $3,677,973 | 89,904 | 0.19% | Shares |
| New Age Alpha Advisors, LLC | $3,538,633 | 86,498 | 0.18% | Shares |
| Quantinno Capital Management LP | $3,438,672 | 84,054 | 0.18% | Shares |
| Point72 Asset Management, L.P. | $3,375,402 | 82,508 | 0.17% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $3,172,775 | 77,555 | 0.16% | Shares |
| Magellan Asset Management Ltd | $2,902,810 | 70,956 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,865,500 | 70,044 | 0.15% | Shares |
| Northwest & Ethical Investments L.P. | $2,843,940 | 69,517 | 0.15% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $2,710,942 | 66,266 | 0.14% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $2,682,796 | 65,578 | 0.14% | Shares |
| UBS Group AG | $2,670,237 | 65,271 | 0.14% | Shares |
| Vanguard Investments Australia, Ltd. | $2,626,504 | 64,202 | 0.13% | Shares |
| Quantbot Technologies LP | $2,367,094 | 57,861 | 0.12% | Shares |
| WESBANCO BANK INC | $2,307,324 | 56,400 | 0.12% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $2,297,792 | 56,167 | 0.12% | Shares |
| Y-Intercept (Hong Kong) Ltd | $2,270,137 | 55,491 | 0.12% | Shares |
| BARCLAYS PLC | $2,268,828 | 55,459 | 0.12% | Shares |
| MACQUARIE GROUP LTD | $2,111,324 | 51,609 | 0.11% | Shares |
| LPL Financial LLC | $2,090,886 | 51,109 | 0.11% | Shares |
| Corient Private Wealth LP | $2,033,514 | 49,707 | 0.10% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $2,020,586 | 49,391 | 0.10% | Shares |
| Brevan Howard Capital Management LP | $2,010,195 | 49,137 | 0.10% | Shares |
| MetLife Investment Management, LLC | $1,997,267 | 48,821 | 0.10% | Shares |
| COLDSTREAM CAPITAL MANAGEMENT INC | $1,989,904 | 48,641 | 0.10% | Shares |
| GRACE & WHITE INC /NY | $1,980,044 | 48,400 | 0.10% | Shares |
| MML INVESTORS SERVICES, LLC | $1,971,214 | 48,184 | 0.10% | Shares |
| HighTower Advisors, LLC | $1,932,424 | 47,236 | 0.10% | Shares |
| North Star Investment Management Corp. | $1,881,860 | 46,000 | 0.10% | Shares |
| Elo Mutual Pension Insurance Co | $1,794,231 | 43,858 | 0.09% | Shares |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Management | $1,695,965 | 41,456 | 0.09% | Shares |
| Toroso Investments, LLC | $1,676,143 | 43,491 | 0.09% | Shares |
Company insiders 51 insiders · 24 officers · 23 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Heather Lynn Rosentrater | President & CEO | March 2, 2026 M | 78,132 | 0 | 0 | $0 |
| Gary G Ely | Chairman & CEO | Feb. 12, 2007 S | 143,624 | 0 | 0 | $0 |
| Kevin J Christie | SVP, CFO & Treasurer | March 2, 2026 M | 46,244 | 0 | 0 | $0 |
| Gregory Curtis Hesler | Sr V President/Corp Secretary | March 2, 2026 M | 24,970 | 0 | 0 | $0 |
| Jason R Thackston | Senior Vice President | May 14, 2026 G | 41,578 | 0 | 0 | $0 |
| Wayne O Manuel | Senior Vice President | May 7, 2026 S | 10,521 | 0 | 1 | $-65,281 |
| Alexis G. Alexander | Vice President | March 13, 2026 S | 3,930 | 0 | 1 | $-22,089 |
| Scott J Kinney | Vice President | March 2, 2026 M | 13,418 | 0 | 0 | $0 |
| Joshua D Diluciano | Vice President | March 2, 2026 M | 13,009 | 0 | 0 | $0 |
| Latisha Diane Hill | Vice President | March 2, 2026 M | 18,978 | 0 | 0 | $0 |
| Bryan Alden Cox | Senior Vice President | March 2, 2026 M | 9,441 | 0 | 1 | $-71,038 |
| Ryan L Krasselt | Vice President | March 2, 2026 M | 30,537 | 0 | 0 | $0 |
| James M Kensok | Vice President - Retired | Feb. 19, 2024 M | 14,135 | 0 | 0 | $0 |
| Mark T Thies | EVP - Retired | Feb. 19, 2024 M | 91,741 | 0 | 0 | $0 |
| Marian M Durkin | Senior Vice President | March 11, 2020 G | 73,079 | 0 | 0 | $0 |
| Karen S Feltes | Sr. Vice President | March 2, 2020 F | 26,281 | 0 | 0 | $0 |
| Kelly O Norwood | Vice President | March 14, 2017 S | 2,775 | 0 | 0 | $0 |
| Roger D Woodworth | Vice President | Feb. 4, 2016 A | 35,179 | 0 | 0 | $0 |
| Smith Christy M Burmeister | Vice President | Aug. 13, 2015 I | 0 | 0 | 0 | $0 |
| Don F Kopczynski | Vice President | March 4, 2015 S | 29,106 | 0 | 0 | $0 |
| Richard L Storro | Vice President | Jan. 2, 2013 F | 12,163 | 0 | 0 | $0 |
| Ann M Wilson | Vice President & Treasurer | Feb. 12, 2009 A | 7,353 | 0 | 0 | $0 |
| Malyn K Malquist | Executive Vice President | Jan. 14, 2009 S | 50,277 | 0 | 0 | $0 |
| Ronald R Peterson | Vice President | April 20, 2007 M | 603 | 0 | 0 | $0 |
| Julie A. Bentz | Director | May 8, 2026 A | 16,808 | 0 | 0 | $0 |
| Sena M Kwawu | Director | May 8, 2026 A | 18,415 | 0 | 0 | $0 |
| Jeffry L. Philipps | Director | May 8, 2026 A | 20,933 | 0 | 0 | $0 |
| Kevin B Jacobsen | Director | May 8, 2026 A | 15,873 | 0 | 0 | $0 |
| Janet D. Widmann | Director | May 8, 2026 A | 22,784 | 0 | 0 | $0 |
| Rebecca A Klein | Director | May 8, 2026 A | 31,228 | 0 | 0 | $0 |
| Scott Harlan Maw | Director | May 8, 2026 A | 33,385 | 0 | 0 | $0 |
| Heidi B Stanley | Director | May 8, 2026 A | 31,283 | 0 | 0 | $0 |
| Scott L Morris | Director | May 8, 2026 A | 109,334 | 0 | 0 | $0 |
| Donald C Burke | Director | May 8, 2026 A | 36,042 | 0 | 0 | $0 |
| Kristianne Blake | Director | May 23, 2023 J | 0 | 0 | 0 | $0 |
| Marc F Racicot | Director | May 14, 2020 A | 22,455 | 0 | 0 | $0 |
| Erik J Anderson | Director | March 13, 2019 A | 22,246 | 0 | 0 | $0 |
| John F Kelly | Director | Sept. 2, 2016 A | 24,509 | 0 | 0 | $0 |
| Rick R Holley | Director | May 13, 2013 A | 6,685 | 0 | 0 | $0 |
| Michael L Noel | Director | June 5, 2012 S | 11,914 | 0 | 0 | $0 |
| Roy Lewis Eiguren | Director | March 8, 2011 S | 6,084 | 0 | 0 | $0 |
| Brian W Dunham | Director | Sept. 2, 2010 A | 7,088 | 0 | 0 | $0 |
| Jack W Gustavel | Director | May 17, 2010 P | 35,650 | 0 | 0 | $0 |
| Lura J Powell | Director | May 5, 2008 A | 11,122 | 0 | 0 | $0 |
| Jr Jessie J Knight | Director | May 16, 2005 A | 16,257 | 0 | 0 | $0 |
| David A Clack | Director | May 14, 2004 A | 14,320 | 0 | 0 | $0 |
| David J Meyer | — | June 15, 2026 J | 3,662 | 0 | 1 | $-50,196 |
| Dennis P Vermillion | — | March 10, 2025 F | 163,871 | 0 | 0 | $0 |
| Edward David Schlect | — | Jan. 3, 2023 F | 16,037 | 0 | 0 | $0 |
| John R Taylor | — | June 23, 2021 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 89 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 |
|---|---|---|---|---|
| LBAY · Tidal Trust I | 4.09% | 17,368 NS | May 31, 2026 | N-PORT |
| PSCU · Invesco Exchange-Traded Fund Trust … | 3.19% | 14,474 SH | Aug. 8, 2026 | Daily |
| DIVY · Tidal Trust I | 2.97% | 20,359 NS | May 31, 2026 | N-PORT |
| DIV · Global X Funds | 1.91% | 347,994 NS | April 30, 2026 | N-PORT |
| PEY · Invesco Exchange-Traded Fund Trust | 1.63% | 490,337 SH | Aug. 8, 2026 | Daily |
| XSHD · Invesco Exchange-Traded Fund Trust … | 1.49% | 28,209 SH | Aug. 8, 2026 | Daily |
| ALTY · Global X Funds | 1.38% | 14,731 NS | May 31, 2026 | N-PORT |
| SNPD · DBX ETF Trust | 1.36% | 857 NS | May 29, 2026 | N-PORT |
| SIXS · EXCHANGE TRADED CONCEPTS TRUST | 1.17% | 35,666 NS | May 31, 2026 | N-PORT |
| XSLV · Invesco Exchange-Traded Fund Trust … | 1.03% | 66,441 SH | Aug. 8, 2026 | Daily |
| SMDV · ProShares Trust | 1.00% | 157,476 NS | May 31, 2026 | N-PORT |
| HSMV · First Trust Exchange-Traded Fund III | 0.96% | 7,127 NS | April 30, 2026 | N-PORT |
| XSMO · Invesco Exchange-Traded Fund Trust | 0.72% | 577,619 SH | Aug. 8, 2026 | Daily |
| XSVM · Invesco Exchange-Traded Fund Trust | 0.62% | 106,977 SH | Aug. 8, 2026 | Daily |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.49% | 21,778 NS | April 30, 2026 | N-PORT |
| SIXL · EXCHANGE TRADED CONCEPTS TRUST | 0.45% | 20,425 NS | May 31, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.44% | 5,920 NS | April 30, 2026 | N-PORT |
| ZAP · Global X Funds | 0.34% | 37,463 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.29% | 40,751 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.23% | 69,183 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.22% | 73,349 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.21% | 16,089 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.21% | 158,573 SH | Aug. 8, 2026 | Daily |
| VPU · VANGUARD WORLD FUND | 0.21% | 565,059 SH | Aug. 8, 2026 | Daily |
| FUTY · FIDELITY COVINGTON TRUST | 0.21% | 124,479 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.21% | 786,016 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.20% | 136,429 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.20% | 553 NS | April 30, 2026 | N-PORT |
| XJR · iShares Trust | 0.20% | 9,765 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.19% | 12,707 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.19% | 92,937 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.18% | 391,583 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.18% | 288,920 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 30,969 NS | April 30, 2026 | N-PORT |
| IJR · iShares Trust | 0.17% | 5,038,698 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.17% | 46,231 SH | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.17% | 359,806 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.15% | 975 NS | May 31, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.15% | 2,930 NS | April 30, 2026 | N-PORT |
| OUSM · ALPS ETF Trust | 0.14% | 29,677 NS | May 31, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.14% | 292,106 NS | May 31, 2026 | N-PORT |
| POWR · iShares, Inc. | 0.12% | 14,534 SH | Aug. 8, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.12% | 69,336 NS | April 30, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.11% | 58,227 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.10% | 2,144,844 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.10% | 35,262 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.10% | 483,586 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.10% | 3,366 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.10% | 18,122 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.09% | 21,646 NS | May 31, 2026 | N-PORT |