your badges 52W Range $4–$15 28% of range Analyst Rating BUY 9 analysts Price Target $13 +74% upside P/E -6.3 ROE -4.0% Net Profit Margin 4.3%

BULL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

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Price $7.34
P/E -6.3
EPS $-1.23
Revenue $571M
ROE -4.0%
52W Range $5–$15

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10-Year Performance Revenue, net income, margins and EPS trends

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Revenue$571M
2022-12-31 → 2025-12-31
EPS$-1.23
2022-12-31 → 2025-12-31
Free Cash Flow$562M
2024-12-31 → 2025-12-31
Net margin4.3%
2024-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend BULL 5Y avg Peer Median Verdict
P/E -6.3 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise 53.6%
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 19, 2026 $0.08 $0.03 213.7%
March 31, 2026 May 21, 2026 $0.02 $0.04 -61.5%
Dec. 31, 2025 $0.03 $0.04 -33.8%
Sept. 30, 2025 $0.06 $0.03 96.1%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 12
Metric Trend 202520242023
Revenue $571M$390M$390M
R&D Expense $36M$33M$32M
SG&A Expense $169M$123M$96M
Operating Expenses $513M$405M$367M
Other Non-op $-13M$2M$-3M
Pretax Income $45M$-12M$20M
Income Tax $21M$14M$16M
Net Income $25M$-23M$6M
EPS (Basic) $-1.23$-3.73$-2.42
EPS (Diluted) $-1.23$-3.73$-2.42
Shares (Basic) 396,999,679138,828,900137,965,591
Shares (Diluted) 396,999,679138,828,900137,965,591
Balance Sheet 20
Metric Trend 202520242023
Cash & Equivalents $653M$271M$372M
Receivables $6M$4M$693.8K
Prepaid Expense $50M$50M$67M
Other Current Assets $8M$13M·
Current Assets $3.68B$1.93B$1.18B
PP&E (Net) $36M$34M$34M
Accum. Depreciation $10M$7M$4M
Goodwill $30M$5M$5M
Intangibles $55M$19M$21M
Other Non-current Assets $1M·$19.3K
Total Assets $3.88B$2.07B$1.26B
Accounts Payable $19M$10M$15M
Current Liabilities $2.78B$1.45B$681M
Capital Leases $9M$10M$10M
Deferred Tax $13M$5M$6M
Total Liabilities $2.86B$1.46B$696M
Retained Earnings $-2.18B$-2.24B$-1.76B
AOCI $2M$-15M$-7M
Stockholders' Equity $1.02B$-2.26B$-1.76B
Liabilities + Equity $3.88B$2.07B$1.26B
Cash Flow 12
Metric Trend 202520242023
D&A $3M$4M$3M
Stock-based Comp $44M$33M$29M
Deferred Tax $3M$-8M$-1M
Amort. of Intangibles $630.1K$496.1K$102.8K
Operating Cash Flow $566M$185M$471M
CapEx $5M$2M$5M
Investing Cash Flow $46M$-2M$-10M
Stock Issued $173M··
Net Stock Activity $173M··
Financing Cash Flow $352M$40M$13M
Taxes Paid $12M$16M$19M
Free Cash Flow $562M$183M·
Profitability 4
Metric Trend 202520242023
Net Margin 4.3%-5.8%·
Pretax Margin 7.9%-3.1%·
ROA 0.83%-1.4%·
ROE -4.0%1.1%·
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio 1.31.3·
Quick Ratio 0.20.2·
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.20.2·
Receivables Turnover 122.2174.8·
Per Share 3
Metric Trend 202520242023
Revenue / Share $1.44$2.81·
Cash Flow / Share $1.43$1.33·
EPS (TTM) $-1.23$-3.73·
Valuation (TTM) 4
Metric Trend 202520242023
Revenue TTM $571M$390M·
Net Income TTM $25M$-23M·
P/E -6.3-3.1·
Earnings Yield -15.8%-32.1%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-312022-12-31
Revenue $571M $390M $390M $388M
Net Income $25M $-23M $6M $50M
Diluted EPS $-1.23 $-3.73 $-2.42 $-0.01

Institutional owners (13F) 262 filers · $1.5B total · As of Sept. 30, 2026

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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.

Holders 262
Value held $1.5B
New positions 60
Exited positions 32
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
60 (-29 vs prior Q) 32 (+4 vs prior Q) 109 (+47 vs prior Q) 57 (-1 vs prior Q) +26.1M

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
PEAK6 LLC $186,766,495 28,645,168 12.27% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $177,969,248 27,295,897 11.69% Shares
BlackRock, Inc. $147,396,181 22,606,776 9.68% Shares
HS Investments IV Ltd $92,103,404 14,126,289 6.05% Shares
JANE STREET GROUP, LLC $47,702,928 7,316,400 3.13% Call option
SUSQUEHANNA INTERNATIONAL GROUP, LLP $45,545,460 6,985,500 2.99% Call option
TIGER GLOBAL MANAGEMENT LLC $43,841,373 6,724,137 2.88% Shares
Azora Capital LP $42,486,739 6,516,371 2.79% Shares
CITADEL ADVISORS LLC $39,959,855 6,128,812 2.62% Shares
AQR CAPITAL MANAGEMENT LLC $35,284,374 5,411,714 2.32% Shares
STATE STREET CORP $34,773,005 5,333,283 2.28% Shares
GEODE CAPITAL MANAGEMENT, LLC $31,068,080 4,765,043 2.04% Shares
Divisadero Street Capital Management, LP $28,782,859 4,414,549 1.89% Shares
GOLDMAN SACHS GROUP INC $28,482,764 4,368,522 1.87% Shares
UBS Group AG $27,211,689 4,173,572 1.79% Shares
CITADEL ADVISORS LLC $26,326,456 4,037,800 1.73% Call option
Nuveen, LLC $21,601,275 3,313,079 1.42% Shares
CITIGROUP INC $21,408,029 3,283,440 1.41% Shares
CITADEL ADVISORS LLC $19,445,248 2,982,400 1.28% Put option
MILLENNIUM MANAGEMENT LLC $17,321,378 2,656,653 1.14% Shares
Toroso Investments, LLC $16,577,847 2,133,571 1.09% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $15,113,666 2,318,047 0.99% Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND $14,072,768 2,158,400 0.92% Shares
RENAISSANCE TECHNOLOGIES LLC $13,924,112 2,135,600 0.91% Shares
JANE STREET GROUP, LLC $13,268,200 2,035,000 0.87% Put option
VANGUARD GROUP INC $13,017,205 1,675,316 0.86% Shares
NORTHERN TRUST CORP $12,995,996 1,993,251 0.85% Shares
Delta Global Management LP $11,952,327 1,833,179 0.79% Shares
WOLVERINE TRADING, LLC $11,856,875 762,500 0.78% Call option
AMERICAN CENTURY COMPANIES INC $11,775,055 1,805,990 0.77% Shares
DEUTSCHE BANK AG\ $9,586,232 1,470,281 0.63% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $9,021,724 1,383,700 0.59% Put option
MORGAN STANLEY $8,997,417 1,379,972 0.59% Shares
Point72 Asset Management, L.P. $7,707,292 1,182,100 0.51% Call option
BNP PARIBAS FINANCIAL MARKETS $7,417,902 1,137,715 0.49% Shares
BARCLAYS PLC $6,846,000 1,050,000 0.45% Call option
Karl Kapital LLC $6,106,580 936,592 0.40% Shares
PICTON MAHONEY ASSET MANAGEMENT $6,062,839 929,883 0.40% Shares
Walleye Trading LLC $5,802,148 889,900 0.38% Call option
Bank of New York Mellon Corp $5,746,904 881,427 0.38% Shares
Philadelphia Financial Management of San Francisco, LLC $5,545,260 850,500 0.36% Shares
BNP PARIBAS FINANCIAL MARKETS $5,542,000 8,500 0.36% Call option
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC $5,512,288 845,443 0.36% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $5,351,844 820,835 0.35% Shares
Marex Group Ltd $5,215,329 799,897 0.34% Shares
IEQ CAPITAL, LLC $5,178,347 794,225 0.34% Shares
WOLVERINE TRADING, LLC $5,137,720 330,400 0.34% Put option
BANK OF AMERICA CORP /DE/ $4,952,084 759,522 0.33% Shares
WELLS FARGO & COMPANY/MN $4,890,000 750,000 0.32% Call option
Walleye Trading LLC $4,670,276 716,300 0.31% Put option

Show all 262 institutional owners →

Company insiders 1 insider · 0 officers · 1 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
William A Houlihan Director April 13, 2026 A 17,219 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 14 ETFs

20

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
IWO · iShares Trust 0.19% 2,950,580 SH Sept. 11, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.12% 334,538 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.10% 8,641,134 SH Sept. 11, 2026 Daily
RSSL · Global X Funds 0.08% 160,961 NS July 31, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.07% 1,934,277 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 21,482 SH Aug. 19, 2026 Daily
IWV · iShares Trust 0.00% 95,692 SH Sept. 10, 2026 Daily
DFSU · Dimensional ETF Trust 0.00% 5,306 NS July 31, 2026 N-PORT
DCOR · Dimensional ETF Trust 0.00% 3,325 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.00% 9,380 NS July 31, 2026 N-PORT
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 27,750 SH Aug. 19, 2026 Daily
DFAS · Dimensional ETF Trust 0.00% 916 NS July 31, 2026 N-PORT
IWN · iShares Trust · 252,016 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 159,981 SH Sept. 11, 2026 Daily

BULL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 9 analysts BUY
Median target $13.50 +83.9%
3 33.3% Strong Buy
5 55.6% Buy
1 11.1% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

4 analysts · 2026-10-02

Mean target $12.75 +73.7%

← Below all targets Current price $7.34
Low$9.00 Mean$12.75 High$15.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
BULL · -6.3 · 4.3% -4.0% ·
HLI · 23.1 9.6% 16.3% 18.6% ·
SNEX $5.27B 17.1 32.5% 0.23% 14.4% 3.1%
BGC · 28.8 30.0% · · ·
PIPR $1.43B 5.4 24.3% 14.8% 21.6% ·
MC · · · · 51.4% ·
PJT · · 14.8% 10.5% 72.7% ·
LAZ · 22.4 1.5% 7.4% 31.4% ·
LCLN · · · · · ·
SECZ · · · · · ·
BGC · 28.8 30.0% · · ·

Latest News Recent headlines mentioning this company

23
Bullish Shares Pop on $4.2 Billion Deal to Acquire Transfer Agent Equiniti Yahoo Finance · 4 months, 4 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

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Source: SEC 20-F filed Apr 9, 2026