BZH Beazer Homes USA, Inc. Common Stock
$33.12
Price · Aug 18, 2026
Fundamentals as of Aug 7, 2026
52W Range
$18–$35
92% of range
Analyst Rating
BUY
7 analysts
Price Target
$28
P/E (TTM)
20.7
ROE
3.7%
Net Profit Margin
1.9%
About Beazer Homes USA, Inc. Common Stock Company overview from Wikipedia
Beazer Homes USA, Inc. is a home construction company based in Atlanta, Georgia. In 2016, the company was the 11th largest home builder in the United States based on the number of homes closed. The company operates in 13 states.
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Beazer Homes USA, Inc. is a home construction company based in Atlanta, Georgia. In 2016, the company was the 11th largest home builder in the United States based on the number of homes closed. The company operates in 13 states.
As of December 31, 2016, the company had 161 active communities.
## History
Beazer Homes USA was established in 1985 when Beazer, a British home construction company led by Brian Beazer, acquired Cohn Communities, an Atlanta-based home construction company. In 1986, the company acquired Gifford-Hill, a construction materials company. In 1988, it acquired Koppers in a hostile takeover.
In 1991, the British parent company was acquired by Hanson.
In 1994, the company became a public company via an initial public offering.
In 1997, the company acquired the assets of Calton Homes of Florida for $16.7 million.
In 2002, the company acquired Crossman Communities for $489.7 million in cash and stock.
In 2004, the company acquired and started development on 242 home sites on Polk County, Florida.
In 2006, the company acquired 86 townhome sites in Seminole County, Florida.
In March 2007, the company received a grand jury subpoena from the U.S. Attorney's Office in the United States District Court for the Western District of North Carolina seeking documents related to its mortgage loan origination services. The investigation followed articles in The Charlotte Observer which noted that the company's aggressive sales tactics led to an unusually high foreclosure rate in its developments.
In July 2007, the company was investigated by the U.S. Securities and Exchange Commission after Chief Accounting Officer Michael T. Rand was fired for violating ethics policies by attempting to destroy documents related to the company's mortgage origination services. In 2014, Rand was found guilty of conspiracy and obstruction of justice charges.
On October 30, 2007, the company agreed to pay $261,000 as part of a $1.4 million settlement by 6 home construction companies to resolve allegations by the U.S. Department of Housing and Urban Development that title insurance companies paid kickbacks to the builders in exchange for referrals. The companies denied wrongdoing and said that they settled to avoid legal expenses.
On July 1, 2009, the company reached a $50 million settlement with several government agencies and admitted to fraudulent mortgage practices including retaining mortgage points that should have been used to lower interest rates charged, misinforming buyers that they were receiving down payment help when instead the price of the home was increased, circumventing HUD watch list programs, and ignoring borrower incomes when originating loans.
In 2018, Beazer Homes announced it has entered into an agreement to acquire Venture Homes, a leading private homebuilder in Atlanta, for approximately $65 million. The transaction also includes substantial construction work in process as well as 51 homes in backlog.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
BZH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$33.12
Market Cap
$938M
P/E (TTM)
20.7
EPS (TTM)
$1.52
Revenue (TTM)
$2.37B
Div Yield
—
ROE
3.7%
Debt/Equity
—
52W Range
$18 – $35
BZH 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
$2.37B
2018-09-30
→
2025-09-30
EPS
$1.52
2018-09-30
→
2025-09-30
Free Cash Flow
$3M
2018-09-30
→
2025-09-30
Margins
1.9%
2019-09-30
→
2025-09-30
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BZH
Peer Median
P/E (TTM)
20.7
14.0
P/S (TTM)
0.4
0.6
P/B
0.8
0.9
Price / FCF
269.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BZH
Peer Median
Gross Margin
14.2%
21.0%
Operating Margin
1.5%
—
Net Profit Margin
1.9%
3.4%
ROA
1.8%
3.1%
ROE
3.7%
8.8%
ROIC
3.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BZH
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BZH
Peer Median
Revenue YoY
1.8%
—
Revenue CAGR 3Y
0.78%
—
Revenue CAGR 5Y
2.2%
—
EPS YoY
-66.5%
—
Net Income YoY
-67.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BZH
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Sept. 6, 2007 | $0.5000 |
| June 7, 2007 | $0.5000 |
| March 7, 2007 | $0.5000 |
| Dec. 7, 2006 | $0.5000 |
| Sept. 7, 2006 | $0.5000 |
| June 8, 2006 | $0.5000 |
| March 8, 2006 | $0.5000 |
| Dec. 7, 2005 | $0.5000 |
| Sept. 8, 2005 | $0.5000 |
| June 8, 2005 | $0.5000 |
| March 8, 2005 | $0.5000 |
| Dec. 8, 2004 | $0.1667 |
| Sept. 8, 2004 | $0.1667 |
| June 8, 2004 | $0.1667 |
| March 8, 2004 | $0.1667 |
| Dec. 8, 2003 | $0.1667 |
BZH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
7 analysts
- Strong Buy 2 28.6%
- Buy 3 42.9%
- Hold 2 28.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-14
Median
$27.50
Above all targets →
$33.12
Low
$22.00
High
$33.00
Median target
$27.50
-17.0%
Mean target
$27.50
-17.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Sept. 30, 2026 | $-0.13 | $-0.37 | 0.24% |
| June 30, 2026 | $-0.13 | $-0.37 | 0.24% |
| March 31, 2026 | $-0.03 | $-0.29 | 0.26% |
| Dec. 31, 2025 | $-0.90 | $-0.47 | -0.43% |
| Sept. 30, 2025 | $1.02 | $0.81 | 0.21% |
| June 30, 2025 | $-0.01 | $0.42 | -0.43% |
| March 31, 2025 | $0.42 | $0.27 | 0.15% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BZH | $731M | 16.2 | 1.8% | 1.9% | 3.7% | 14.2% |
| KBH | — | 10.5 | -10.0% | 6.9% | 10.9% | — |
| GRBK | — | 8.9 | -1.0% | 15.3% | — | 31.4% |
| CCS | $1.72B | 12.2 | -6.4% | 3.6% | 5.7% | — |
| DFH | — | 8.0 | -2.9% | — | — | — |
| LGIH | $994M | 13.8 | -22.6% | 4.2% | 3.5% | — |
| HOV | — | — | — | — | — | — |
| SDHC | — | 14.1 | -0.45% | 1.1% | 13.3% | 21.9% |
| LEGH | $465M | 11.2 | -10.7% | 25.4% | 8.0% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.37B | $2.33B | $2.21B | $2.32B | $2.14B | $2.13B | $2.09B | $2.11B | $1.92B | |
| Cost of Revenue | · | · | · | · | · | · | $1.77B | $1.76B | $1.60B | |
| Gross Profit | $338M | $424M | $443M | $538M | $404M | $348M | $166M | $345M | $313M | |
| SG&A Expense | $205M | $186M | $180M | $177M | $163M | $170M | $161M | $169M | $162M | |
| Operating Income | $37M | $143M | $177M | $272M | $147M | $79M | $-90M | $82M | $62M | |
| Interest Expense | · | · | $0 | $0 | $3M | $8M | $3M | $5M | $16M | |
| Other Non-op | $4M | $16M | $6M | $1M | $-1M | $-8M | $-2M | $-4M | $-15M | |
| Pretax Income | $41M | $159M | $183M | $274M | $144M | $71M | $-117M | $49M | $35M | |
| Income Tax | $-5M | $19M | $24M | $53M | $22M | $18M | $-37M | $94M | $3M | |
| Net Income | $46M | $140M | $159M | $221M | $122M | $52M | $-80M | $-45M | $32M | |
| EPS (Basic) | $1.53 | $4.59 | $5.23 | $7.25 | $4.07 | $1.76 | $-2.60 | $-1.41 | $1.00 | |
| EPS (Diluted) | $1.52 | $4.53 | $5.16 | $7.17 | $4.01 | $1.74 | $-2.60 | $-1.41 | $0.99 | |
| Shares (Basic) | 29,758,000 | 30,548,000 | 30,353,000 | 30,432,000 | 29,954,000 | 29,704,000 | 30,617,000 | 32,141,000 | 31,952,000 | |
| Shares (Diluted) | 30,011,000 | 30,953,000 | 30,747,000 | 30,796,000 | 30,437,000 | 29,948,000 | 30,617,000 | 32,141,000 | 32,426,000 | |
| EBITDA | $56M | $158M | $189M | $286M | $161M | $95M | $-75M | $95M | $76M |
Balance Sheet 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $215M | $204M | $346M | $215M | $247M | $328M | $107M | $140M | $292M | |
| PP&E (Net) | $48M | $39M | $31M | $25M | $23M | $22M | $27M | $21M | $18M | |
| PP&E (Gross) | · | · | · | · | · | · | $53M | $55M | $58M | |
| Accum. Depreciation | · | · | · | · | · | · | $26M | $34M | $40M | |
| Goodwill | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $10M | · | |
| Total Assets | $2.61B | $2.59B | $2.41B | $2.25B | $2.08B | $2.01B | $1.96B | $2.13B | $2.22B | |
| Total Liabilities | $1.36B | $1.36B | $1.31B | $1.31B | $1.35B | $1.41B | $1.42B | $1.48B | $1.54B | |
| Common Stock | $30.0K | $31.0K | $31.0K | $31.0K | $31.0K | $31.0K | $31.0K | $34.0K | $34.0K | |
| Retained Earnings | $424M | $378M | $238M | $79M | $-141M | $-263M | $-316M | $-236M | $-191M | |
| Stockholders' Equity | $1.25B | $1.23B | $1.10B | $939M | $725M | $593M | $539M | $644M | $682M | |
| Liabilities + Equity | $2.61B | $2.59B | $2.41B | $2.25B | $2.08B | $2.01B | $1.96B | $2.13B | $2.22B | |
| Shares Outstanding | 29,762,293 | 31,048,000 | 31,351,434 | 30,880,138 | 31,294,198 | 31,012,326 | 30,933,110 | 33,522,046 | 33,515,768 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $19M | $15M | $12M | $13M | $14M | $16M | $15M | $14M | $14M | |
| Stock-based Comp | $7M | $7M | $7M | $8M | $12M | $10M | $11M | $10M | $8M | |
| Deferred Tax | $-5M | $19M | $24M | $53M | $22M | $18M | $-37M | $94M | $678.0K | |
| Other Non-cash | $-35M | $-319M | $-24M | $-215M | $-138M | $194M | $205M | $-42M | $41M | |
| Operating Cash Flow | $32M | $-138M | $178M | $81M | $32M | $289M | $114M | $55M | $105M | |
| CapEx | $29M | $22M | $20M | $15M | $15M | $11M | $21M | $17M | $12M | |
| Investing Cash Flow | $-20M | $-30M | $-30M | $-15M | $-14M | $-10M | $-25M | $-74M | $-14M | |
| Stock Repurchased | $33M | $13M | $0 | $8M | $0 | $3M | $35M | $0 | $0 | |
| Net Stock Activity | $-33M | $-13M | $0 | $-8M | $0 | $-3M | $-35M | · | · | |
| Financing Cash Flow | $-36M | $24M | $-14M | $-89M | $-86M | $-59M | $-119M | $-132M | $-30M | |
| Net Change in Cash | $-24M | $-144M | $134M | $-22M | $-68M | $220M | $-30M | $-151M | $61M | |
| Free Cash Flow | $3M | $-160M | $158M | $66M | $17M | $278M | $92M | $13M | $83M | |
| Levered FCF | · | · | $158M | $66M | $15M | $272M | $90M | $18M | $69M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.2% | 18.2% | 20.1% | 23.2% | 18.9% | · | 8.0% | · | · | |
| Operating Margin | 1.5% | 6.1% | 8.0% | 11.8% | 6.9% | · | -4.3% | · | · | |
| Net Margin | 1.9% | 6.0% | 7.2% | 9.5% | 5.7% | · | -3.8% | · | · | |
| Pretax Margin | 1.7% | 6.8% | 8.3% | 11.8% | 6.7% | · | -5.6% | · | · | |
| EBITDA Margin | 2.4% | 6.8% | 8.6% | 12.3% | 7.5% | · | -3.6% | · | · | |
| ROA | 1.8% | 5.6% | 6.8% | 10.2% | 6.0% | 2.6% | -3.9% | -2.1% | 1.4% | |
| ROE | 3.7% | 11.6% | 14.8% | 24.6% | 17.4% | 9.0% | -14.8% | -7.4% | 4.8% | |
| ROIC | 3.3% | 10.2% | 14.0% | 23.4% | 17.2% | 10.0% | -11.4% | -11.5% | 8.4% |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | 52.8 | 9.3 | -28.9 | 15.3 | 4.0 |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | 0.9 | 0.9 | 1.1 | 1.0 | · | 1.0 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.8% | 5.6% | -4.8% | 8.3% | 0.62% | · | · | · | · | |
| Revenue CAGR 3Y | 0.78% | 2.9% | 1.2% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.2% | · | · | · | · | · | · | · | · | |
| EPS YoY | -66.5% | -12.2% | -28.0% | 78.8% | 130.5% | · | · | · | · | |
| EPS CAGR 3Y | -40.4% | 4.2% | 43.7% | · | · | · | · | · | · | |
| EPS CAGR 5Y | -2.7% | · | · | · | · | · | · | · | · | |
| Net Income YoY | -67.5% | -11.6% | -28.1% | 80.9% | 133.6% | · | · | · | · | |
| Net Income CAGR 3Y | -40.9% | 4.7% | 44.8% | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -2.7% | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.37B | $2.33B | $2.21B | $2.32B | $2.14B | $2.13B | $2.09B | $2.11B | $1.92B | |
| Net Income TTM | $46M | $140M | $159M | $221M | $122M | $52M | $-80M | $-45M | $32M | |
| Market Cap | $731M | $1.06B | $781M | $299M | $540M | $409M | $461M | $352M | $628M | |
| P/E | 16.2 | 7.5 | 4.8 | 1.3 | 4.3 | 7.6 | -5.7 | -7.4 | 18.9 | |
| P/S | 0.3 | 0.5 | 0.4 | 0.1 | 0.3 | 0.2 | 0.2 | 0.2 | 0.3 | |
| P/B | 0.6 | 0.9 | 0.7 | 0.3 | 0.7 | 0.7 | 0.9 | 0.5 | 0.9 | |
| P / Tangible Book | 0.6 | 0.9 | 0.7 | 0.3 | 0.8 | 0.7 | · | · | · | |
| P / Cash Flow | 22.8 | -7.7 | 4.4 | 3.7 | 17.1 | 1.4 | 4.1 | 11.6 | 6.5 | |
| P / FCF | 210.0 | -6.6 | 5.0 | 4.5 | 31.7 | 1.5 | 5.0 | 26.5 | 7.5 | |
| Earnings Yield | 6.2% | 13.3% | 20.7% | 74.2% | 23.2% | 13.2% | -17.4% | -13.4% | 5.3% |
Income Statement 14
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $516M | $410M | $363M | $792M | $545M | $565M | $469M | $806M | $596M | $542M | $387M | $645M | $573M | $544M | $445M | $828M | |
| Gross Profit | $66M | $49M | $37M | $107M | $73M | $86M | $72M | $141M | $103M | $102M | $78M | $137M | $117M | $103M | $86M | $188M | |
| SG&A Expense | $55M | $50M | $53M | $53M | $53M | $49M | $50M | $51M | $50M | $44M | $42M | $50M | $46M | $43M | $41M | $48M | |
| Operating Income | $-11M | $-19M | $-32M | $25M | $-4M | $13M | $2M | $58M | $29M | $36M | $20M | $62M | $48M | $39M | $29M | $110M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | · | |
| Other Non-op | $2M | $433.0K | $778.0K | $1M | $1M | $799.0K | $1M | $2M | $1M | $10M | $3M | $2M | $2M | $1M | $576.0K | $330.0K | |
| Pretax Income | $-11M | $-19M | $-31M | $26M | $-3M | $14M | $3M | $61M | $30M | $46M | $23M | $64M | $50M | $40M | $29M | $110M | |
| Income Tax | $-6M | $-18M | $2M | $-4M | $-2M | $1M | $36.0K | $9M | $2M | $7M | $1M | $8M | $6M | $5M | $4M | $24M | |
| Net Income | $-4M | $-904.0K | $-33M | $30M | $-324.0K | $13M | $3M | $52M | $27M | $39M | $22M | $56M | $44M | $35M | $24M | $87M | |
| EPS (Basic) | $-0.16 | $-0.03 | $-1.13 | $1.02 | $-0.01 | $0.42 | $0.10 | $1.72 | $0.89 | $1.27 | $0.71 | $1.84 | $1.44 | $1.14 | $0.81 | $2.86 | |
| EPS (Diluted) | $-0.16 | $-0.03 | $-1.13 | $1.01 | $-0.01 | $0.42 | $0.10 | $1.69 | $0.88 | $1.26 | $0.70 | $1.81 | $1.42 | $1.13 | $0.80 | $2.82 | |
| Shares (Basic) | 26,510,000 | 27,990,000 | 28,928,000 | -60,227,000 | 29,440,000 | 30,119,000 | 30,426,000 | -61,329,000 | 30,513,000 | 30,769,000 | 30,595,000 | -60,655,000 | 30,395,000 | 30,394,000 | 30,219,000 | -61,010,000 | |
| Shares (Diluted) | 26,510,000 | 27,990,000 | 28,928,000 | -60,494,000 | 29,440,000 | 30,265,000 | 30,800,000 | -62,097,000 | 30,935,000 | 31,133,000 | 30,982,000 | -61,203,000 | 30,860,000 | 30,610,000 | 30,480,000 | -61,623,000 | |
| EBITDA | $-11M | $-19M | $-28M | · | $-4M | $13M | $6M | · | $29M | $36M | $22M | · | $48M | $39M | $31M | · |
Balance Sheet 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $125M | $116M | $121M | $215M | $83M | $85M | $80M | $204M | $73M | $133M | $104M | $346M | $276M | $241M | $121M | $215M | |
| PP&E (Net) | $55M | $53M | $49M | $48M | $46M | $43M | $40M | $39M | $38M | $37M | $34M | · | $29M | $26M | $24M | · | |
| Goodwill | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $11M | · | $11M | $11M | $11M | · | |
| Total Assets | $2.90B | $2.76B | $2.64B | $2.61B | $2.71B | $2.65B | $2.60B | $2.59B | $2.59B | $2.52B | $2.39B | $2.41B | $2.32B | $2.27B | $2.19B | · | |
| Total Liabilities | $1.76B | $1.59B | $1.44B | $1.36B | $1.50B | $1.43B | $1.37B | $1.36B | $1.42B | $1.35B | $1.27B | · | $1.27B | $1.27B | $1.22B | · | |
| Common Stock | $27.0K | $28.0K | $30.0K | $30.0K | $30.0K | $30.0K | $31.0K | $31.0K | $31.0K | $32.0K | $32.0K | · | $31.0K | $31.0K | $31.0K | · | |
| Retained Earnings | $386M | $390M | $391M | $424M | $394M | $394M | $381M | $378M | $326M | $299M | $260M | · | $182M | $138M | $104M | · | |
| Stockholders' Equity | $1.15B | $1.17B | $1.20B | $1.25B | $1.22B | $1.23B | $1.23B | $1.23B | $1.18B | $1.16B | $1.12B | $1.10B | $1.04B | $999M | $963M | $939M | |
| Liabilities + Equity | $2.90B | $2.76B | $2.64B | $2.61B | $2.71B | $2.65B | $2.60B | $2.59B | $2.59B | $2.52B | $2.39B | · | $2.32B | $2.27B | $2.19B | · | |
| Shares Outstanding | 27,330,791 | 28,331,558 | 29,507,049 | 29,762,293 | 29,726,410 | 30,303,405 | 31,201,705 | 31,047,510 | 31,082,264 | 31,547,284 | 31,532,908 | · | 31,339,214 | 31,347,050 | 31,347,439 | · |
Cash Flow 13
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $4M | $4M | $6M | $5M | $5M | $4M | $5M | $4M | $4M | $2M | $4M | $3M | $3M | $3M | $4M | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Deferred Tax | $-6M | $-18M | $2M | $-4M | $-2M | $1M | $36.0K | $9M | $2M | $7M | $1M | $8M | $6M | $5M | $4M | $24M | |
| Other Non-cash | · | · | $-140M | · | · | · | $-168M | · | · | · | $-252M | · | · | · | $-119M | · | |
| Operating Cash Flow | $-147M | $-63M | $-165M | $250M | $-62M | $3M | $-159M | $185M | $-83M | $-14M | $-226M | $82M | $56M | $127M | $-87M | $246M | |
| CapEx | $7M | $8M | $6M | $7M | $8M | $8M | $5M | $6M | $5M | $6M | $6M | $6M | $6M | $5M | $3M | $4M | |
| Investing Cash Flow | $-7M | $-8M | $-6M | $-7M | $-3M | $-4M | $-6M | $-6M | $-5M | $-6M | $-13M | $-8M | $-14M | $-5M | $-3M | $-4M | |
| Stock Repurchased | $21M | $30M | $15M | $0 | $13M | $21M | $0 | $0 | $13M | · | · | $0 | · | · | · | $6M | |
| Net Stock Activity | · | · | $-15M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $162M | $68M | $77M | $-115M | $47M | $-11M | $42M | $-45M | $32M | $47M | $-10M | $-4M | $-5M | $0 | $-5M | $-72M | |
| Net Change in Cash | $8M | $-4M | $-94M | $128M | $-18M | $-11M | $-123M | $134M | $-57M | $27M | $-248M | $71M | $37M | $123M | $-95M | $170M | |
| Free Cash Flow | · | · | $-171M | · | · | · | $-165M | · | · | · | $-231M | · | · | · | $-90M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-90M | · |
Profitability 8
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.8% | 11.9% | 10.2% | · | 13.3% | 15.2% | 15.4% | · | 17.3% | 18.8% | 20.1% | · | 20.4% | 18.9% | 19.3% | · | |
| Operating Margin | -2.2% | -4.6% | -8.8% | · | -0.68% | 2.4% | 0.46% | · | 4.8% | 6.7% | 5.2% | · | 8.4% | 7.1% | 6.4% | · | |
| Net Margin | -0.82% | -0.22% | -9.0% | · | -0.06% | 2.3% | 0.67% | · | 4.6% | 7.2% | 5.6% | · | 7.6% | 6.4% | 5.5% | · | |
| Pretax Margin | -2.0% | -4.5% | -8.6% | · | -0.46% | 2.5% | 0.68% | · | 5.0% | 8.5% | 5.9% | · | 8.7% | 7.3% | 6.4% | · | |
| EBITDA Margin | -2.2% | -4.6% | -7.6% | · | -0.68% | 2.4% | 1.3% | · | 4.8% | 6.7% | 5.8% | · | 8.4% | 7.1% | 7.0% | · | |
| ROA | -0.15% | -0.03% | -1.2% | · | -0.01% | 0.49% | 0.13% | · | 1.1% | 1.6% | 0.95% | · | 1.9% | 1.6% | 1.1% | · | |
| ROE | -0.36% | -0.08% | -2.7% | · | -0.03% | 1.1% | 0.27% | · | 2.5% | 3.6% | 2.1% | · | 4.6% | 3.9% | 2.8% | · | |
| ROIC | -0.40% | -0.08% | -2.8% | · | -0.04% | 0.98% | 0.17% | · | 2.2% | 2.6% | 1.7% | · | 4.0% | 3.4% | 2.5% | · |
Efficiency 1
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.2 | 0.2 | · |
Valuation (TTM) 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.84B | $1.88B | $1.94B | · | $2.18B | $2.17B | $1.99B | · | $2.10B | $2.04B | $1.95B | · | $2.09B | $2.02B | $1.93B | · | |
| Net Income TTM | $-38M | $-21M | $-17M | · | $43M | $82M | $91M | · | $132M | $139M | $125M | · | $157M | $158M | $158M | · | |
| Market Cap | $767M | $545M | $598M | · | $665M | $618M | $857M | · | $854M | $1.03B | $1.07B | · | $887M | $498M | $400M | · | |
| P/E | -21.1 | -25.7 | -32.7 | · | 16.1 | 7.7 | 9.3 | · | 6.5 | 7.3 | 8.3 | · | 5.5 | 3.1 | 2.5 | · | |
| P/S | 0.4 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.2 | 0.2 | · | |
| P/B | 0.7 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.7 | · | 0.7 | 0.9 | 1.0 | · | 0.8 | 0.5 | 0.4 | · | |
| P / Tangible Book | 0.7 | 0.5 | 0.5 | · | 0.6 | 0.5 | 0.7 | · | 0.7 | 0.9 | 1.0 | · | 0.9 | 0.5 | 0.4 | · | |
| P / Cash Flow | · | · | -3.6 | · | · | · | -5.4 | · | · | · | -4.7 | · | · | · | -4.6 | · | |
| P / FCF | · | · | -3.5 | · | · | · | -5.2 | · | · | · | -4.6 | · | · | · | -4.4 | · | |
| Earnings Yield | -4.7% | -3.9% | -3.1% | · | 6.2% | 13.1% | 10.7% | · | 15.5% | 13.8% | 12.0% | · | 18.1% | 32.4% | 40.4% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-12-31 | 2024-09-30 | 2023-09-30 | 2022-09-30 | |
|---|---|---|---|---|---|
| Revenue | $2.37B | — | $2.33B | $2.21B | $2.32B |
| Gross Margin % | 14.2% | — | 18.2% | 20.1% | 23.2% |
| Operating Margin % | 1.5% | — | 6.1% | 8.0% | 11.8% |
| Net Income | $46M | — | $140M | $159M | $221M |
| Diluted EPS | $1.52 | — | $4.53 | $5.16 | $7.17 |
Cash Flow
| 2025-09-30 | 2024-12-31 | 2024-09-30 | 2023-09-30 | 2022-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $3M | — | $-160M | $158M | $66M |
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Institutional owners (13F) 214 filers · $557.4M 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 |
|---|---|---|---|---|
| 44 (+17 vs prior Q) | 22 (-7 vs prior Q) | 51 (-11 vs prior Q) | 63 (+6 vs prior Q) | +1.2M |
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 |
|---|---|---|---|---|
| DONALD SMITH & CO., INC. | $78,937,777 | 2,814,181 | 14.16% | Shares |
| Capital World Investors | $47,863,510 | 1,706,364 | 8.59% | Shares |
| Wealthspire Advisors, LLC | $31,335,441 | 1,117,128 | 5.62% | Shares |
| STATE STREET CORP | $31,252,440 | 1,114,169 | 5.61% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $30,684,849 | 1,093,934 | 5.50% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $25,245,000 | 900,000 | 4.53% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $23,856,104 | 850,485 | 4.28% | Shares |
| Mill Road Capital Management LLC | $23,596,642 | 841,235 | 4.23% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $15,556,863 | 554,501 | 2.79% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $15,344,977 | 547,058 | 2.75% | Shares |
| Nokomis Capital, L.L.C. | $14,282,218 | 509,170 | 2.56% | Shares |
| ONTARIO TEACHERS PENSION PLAN BOARD | $11,051,700 | 394,000 | 1.98% | Put option |
| AMERICAN CENTURY COMPANIES INC | $10,225,095 | 364,531 | 1.83% | Shares |
| AMERIPRISE FINANCIAL INC | $9,924,092 | 353,800 | 1.78% | Shares |
| TIG Advisors, LLC | $8,317,105 | 296,510 | 1.49% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $7,856,356 | 280,084 | 1.41% | Shares |
| JANE STREET GROUP, LLC | $7,239,705 | 258,100 | 1.30% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,043,355 | 251,100 | 1.26% | Call option |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $6,356,607 | 226,617 | 1.14% | Shares |
| Governors Lane LP | $6,097,004 | 217,362 | 1.09% | Shares |
| Oakum Bay Capital LLC | $5,979,196 | 310,769 | 1.07% | Shares |
| CITADEL ADVISORS LLC | $5,694,150 | 203,000 | 1.02% | Call option |
| GOLDMAN SACHS GROUP INC | $5,058,144 | 180,326 | 0.91% | Shares |
| Round Hill Asset Management | $4,804,544 | 171,285 | 0.86% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,582,164 | 163,357 | 0.82% | Shares |
| Slotnik Capital, LLC | $4,347,750 | 155,000 | 0.78% | Shares |
| Empowered Funds, LLC | $4,188,342 | 149,317 | 0.75% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $4,077,825 | 145,377 | 0.73% | Shares |
| VANGUARD GROUP INC | $3,541,433 | 174,713 | 0.64% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,184,236 | 113,520 | 0.57% | Shares |
| Balyasny Asset Management L.P. | $3,081,545 | 109,859 | 0.55% | Shares |
| Russell Investments Group, Ltd. | $2,960,340 | 105,538 | 0.53% | Shares |
| JAMISON PRIVATE WEALTH MANAGEMENT, INC. | $2,913,863 | 103,881 | 0.52% | Shares |
| Saba Capital Management, L.P. | $2,761,579 | 98,452 | 0.50% | Shares |
| Register Financial Advisors LLC | $2,700,289 | 96,267 | 0.48% | Shares |
| BW Gestao de Investimentos Ltda. | $2,673,165 | 95,300 | 0.48% | Shares |
| PEAK6 LLC | $2,622,675 | 93,500 | 0.47% | Call option |
| STOREBRAND ASSET MANAGEMENT AS | $2,466,408 | 87,929 | 0.44% | Shares |
| Foundry Partners, LLC | $2,352,292 | 115,365 | 0.42% | Shares |
| FRANKLIN RESOURCES INC | $2,260,830 | 80,600 | 0.41% | Shares |
| CITADEL ADVISORS LLC | $2,252,415 | 80,300 | 0.40% | Put option |
| HARVEST MANAGEMENT LLC | $2,244,000 | 80,000 | 0.40% | Shares |
| CITIGROUP INC | $2,219,344 | 79,121 | 0.40% | Shares |
| D. E. Shaw & Co., Inc. | $2,183,272 | 77,835 | 0.39% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $2,033,625 | 72,500 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $1,879,350 | 67,000 | 0.34% | Put option |
| WESBANCO BANK INC | $1,865,325 | 66,500 | 0.33% | Shares |
| GHE, LLC | $1,810,740 | 64,554 | 0.32% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,706,983 | 60,855 | 0.31% | Shares |
| Beacon Pointe Advisors, LLC | $1,682,019 | 87,423 | 0.30% | Shares |
| Squarepoint Ops LLC | $1,674,445 | 59,695 | 0.30% | Shares |
| HB Wealth Management, LLC | $1,667,516 | 59,448 | 0.30% | Shares |
| WMS Partners, LLC | $1,576,177 | 57,399 | 0.28% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $1,526,902 | 54,435 | 0.27% | Shares |
| Tweedy, Browne Co LLC | $1,526,902 | 54,435 | 0.27% | Shares |
| Swiss National Bank | $1,495,065 | 53,300 | 0.27% | Shares |
| Badgley Phelps Wealth Managers, LLC | $1,488,558 | 53,068 | 0.27% | Shares |
| Clear Harbor Asset Management, LLC | $1,485,163 | 52,947 | 0.27% | Shares |
| Man Group plc | $1,481,573 | 52,819 | 0.27% | Shares |
| CITADEL ADVISORS LLC | $1,480,311 | 52,774 | 0.27% | Shares |
| LPL Financial LLC | $1,406,736 | 50,151 | 0.25% | Shares |
| CITIGROUP INC | $1,402,500 | 50,000 | 0.25% | Put option |
| BARCLAYS PLC | $1,362,837 | 48,586 | 0.24% | Shares |
| Rafferty Asset Management, LLC | $1,330,243 | 47,424 | 0.24% | Shares |
| Quantinno Capital Management LP | $1,314,563 | 46,865 | 0.24% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,278,659 | 45,585 | 0.23% | Shares |
| Atria Wealth Solutions, Inc. | $1,273,748 | 56,940 | 0.23% | Shares |
| AlphaQuest LLC | $1,220,112 | 60,193 | 0.22% | Shares |
| Fort Baker Capital Management LP | $1,077,120 | 38,400 | 0.19% | Shares |
| Bank of New York Mellon Corp | $1,028,734 | 36,675 | 0.18% | Shares |
| RBF Capital, LLC | $1,009,071 | 35,974 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $960,170 | 34,231 | 0.17% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $939,675 | 33,500 | 0.17% | Shares |
| Brandywine Global Investment Management, LLC | $898,164 | 44,310 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $875,160 | 31,200 | 0.16% | Put option |
| Trexquant Investment LP | $853,309 | 30,421 | 0.15% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $705,710 | 25,159 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $692,667 | 24,694 | 0.12% | Shares |
| Abacus Wealth Partners, LLC | $641,279 | 22,862 | 0.12% | Shares |
| XTX Topco Ltd | $605,824 | 21,598 | 0.11% | Shares |
| NINE MASTS CAPITAL Ltd | $604,057 | 21,535 | 0.11% | Shares |
| BlackRock, Inc. | $592,781 | 21,133 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $577,623 | 30,022 | 0.10% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $572,248 | 20,401 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $565,572 | 20,163 | 0.10% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $554,128 | 19,755 | 0.10% | Shares |
| WOLVERINE TRADING, LLC | $513,552 | 20,800 | 0.09% | Call option |
| Vanguard Global Advisers, LLC | $498,841 | 17,784 | 0.09% | Shares |
| Harbour Capital Advisors, LLC | $465,116 | 14,585 | 0.08% | Shares |
| ALLIANCEBERNSTEIN L.P. | $434,362 | 22,576 | 0.08% | Shares |
| Walleye Capital LLC | $426,360 | 15,200 | 0.08% | Put option |
| MetLife Investment Management, LLC | $425,378 | 15,165 | 0.08% | Shares |
| Point72 Asset Management, L.P. | $420,750 | 15,000 | 0.08% | Shares |
| QUADRANT CAPITAL GROUP LLC | $403,219 | 14,375 | 0.07% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $389,979 | 13,903 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $385,164 | 15,600 | 0.07% | Put option |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $384,418 | 13,138 | 0.07% | Shares |
| Quantbot Technologies LP | $378,535 | 13,495 | 0.07% | Shares |
| Walleye Capital LLC | $370,260 | 13,200 | 0.07% | Call option |
| MARSHALL WACE, LLP | $350,625 | 12,500 | 0.06% | Shares |
Company insiders 35 insiders · 16 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ian J Mccarthy | Former President and CEO | June 12, 2011 D | 879,726 | 0 | 0 | $0 |
| David I Goldberg | SVP, Chief Financial Officer | Feb. 10, 2025 A | 137,094 | 0 | 0 | $0 |
| Robert L. Salomon | former EVP and CFO | May 4, 2021 M | 168,601 | 0 | 0 | $0 |
| James Oleary | EVP, Chief Financial Officer | March 23, 2007 M | 15,780 | 0 | 0 | $0 |
| Michael Anthony Dunn | SVP, GC and Corp Secretary | Aug. 1, 2026 F | 22,557 | 0 | 0 | $0 |
| Pei Sun | VP & Chief Accounting Officer | Feb. 7, 2025 M | 22,890 | 0 | 0 | $0 |
| Keith L Belknap Jr | EVP, General Counsel | July 16, 2024 S | 70,081 | 0 | 0 | $0 |
| Kenneth F Khoury | Administration | Sept. 18, 2018 F | 146,057 | 0 | 0 | $0 |
| Cory Jacobs Boydston | SVP, Treasurer | March 14, 2008 D | 0 | 0 | 0 | $0 |
| Michael R Douglas | EVP Special Counsel | Jan. 1, 2008 A | — | 0 | 0 | $0 |
| Kenneth J Gary | EVP, General Counsel | Feb. 12, 2007 D | 2,254 | 0 | 0 | $0 |
| Michael T Rand | SVP, Chief Accounting Officer | Feb. 6, 2007 A | 23,190 | 0 | 0 | $0 |
| Fred Fratto | SVP, Human Resources | Sept. 25, 2006 M | 2,147 | 0 | 0 | $0 |
| Jonathan Smoke | SVP Corp Strategy & Innovation | Sept. 25, 2006 M | 11,823 | 0 | 0 | $0 |
| Lowell C Ball | SVP | Sept. 22, 2006 D | 4,607 | 0 | 0 | $0 |
| John Skelton | SVP, Forward Planning | Nov. 15, 2005 A | 7,944 | 0 | 0 | $0 |
| Danny R Shepherd | Director | Feb. 4, 2026 A | 92,419 | 0 | 0 | $0 |
| Christian C Winkle | Director | Nov. 17, 2025 A | 12,250 | 0 | 0 | $0 |
| John J Kelley III | Director | May 9, 2025 P | 15,917 | 0 | 0 | $0 |
| Lloyd Emerson Johnson | Director | Feb. 10, 2025 P | 45,000 | 0 | 0 | $0 |
| Alyssa P. Steele | Director | Nov. 15, 2024 A | 8,942 | 0 | 0 | $0 |
| June Sauvaget | Director | Nov. 15, 2024 A | 8,942 | 0 | 0 | $0 |
| Peter M Orser | Director | Nov. 15, 2024 A | 78,324 | 0 | 0 | $0 |
| David J Spitz | Director | Nov. 8, 2023 A | 40,523 | 0 | 0 | $0 |
| Elizabeth S Acton | Director | Nov. 8, 2023 A | 14,781 | 0 | 0 | $0 |
| ZELNAK STEPHEN P JR | Director | March 18, 2020 S | 0 | 0 | 0 | $0 |
| Laurent Alpert | Director | Nov. 15, 2019 A | 66,777 | 0 | 0 | $0 |
| Brian C Beazer | Director | Nov. 15, 2018 A | 58,600 | 0 | 0 | $0 |
| Peter G Leemputte | Director | Nov. 15, 2018 A | 57,855 | 0 | 0 | $0 |
| Larry T Solari | Director | Dec. 5, 2016 S | 17,944 | 0 | 0 | $0 |
| Katie J Bayne | Director | Aug. 5, 2008 M | 9,868 | 0 | 0 | $0 |
| Maureen E Oconnell | Director | Dec. 5, 2006 M | 4,938 | 0 | 0 | $0 |
| Allan P. Merrill | — | Nov. 20, 2025 F | 1,385,656 | 0 | 0 | $0 |
| Norma Ann Provencio | — | Nov. 17, 2025 A | 105,388 | 0 | 0 | $0 |
| Michael H Furlow | — | Feb. 2, 2010 D | 129,686 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Allan P. Merrill | Nov. 24, 2025 | 5.30% | Initial filing | — | SEC |
| Undisclosed reporting person | Aug. 10, 2007 | — | Initial filing | — | SEC |
| Tontine Partners, L.P., Tontine Management, L.L.C., Tontine Overseas Associates, L.L.C., Jeffrey L. Gendell | Oct. 12, 2005 | — | Initial filing | Capital structure | SEC |
| S.S. or IRS identification NO. of Above Person Marvin Schwartz SS # ###-##-#### | Feb. 9, 2004 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Feb. 8, 2002 | — | Initial filing | M&A / sale | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 51 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 |
|---|---|---|---|---|
| HOMZ · ETF Series Solutions | 0.95% | 12,750 NS | May 31, 2026 | N-PORT |
| COPY · RBB Fund Trust | 0.41% | 56,091 NS | May 31, 2026 | N-PORT |
| ITB · iShares Trust | 0.35% | 244,656 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.19% | 84,686 SH | Aug. 8, 2026 | Daily |
| HAPS · Harbor ETF Trust | 0.17% | 12,700 NS | April 30, 2026 | N-PORT |
| NAIL · Direxion Shares ETF Trust | 0.17% | 44,530 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.13% | 1,602 NS | April 30, 2026 | N-PORT |
| ERTH · Invesco Exchange-Traded Fund Trust | 0.13% | 5,218 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.09% | 299,072 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.07% | 61,460 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 54,145 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.06% | 22,473 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.05% | 231,805 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.04% | 21,756 SH | Aug. 8, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.04% | 103,811 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.04% | 39,527 NS | May 31, 2026 | N-PORT |
| FDIS · FIDELITY COVINGTON TRUST | 0.03% | 28,632 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.03% | 8,878 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.03% | 288,650 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 625,088 SH | Aug. 8, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | 0.02% | 12,279 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 143,429 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.02% | 68,944 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.02% | 11,972 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 1,300 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 131,043 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 92,191 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.01% | 80,040 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,016 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 2,078 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 288,071 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 1,029 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.01% | 1,275 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 3,653 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 1,018 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,385 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 4,059 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 79,744 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 26 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 12,246 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 3,076 NS | April 30, 2026 | N-PORT |
| NEAR · iShares U.S. ETF Trust | 0.00% | 100,000 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 10,007 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 7,866 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 12,430 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 36,588 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.00% | 6,423 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 16,658 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 779,803 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,210 SH | Aug. 8, 2026 | Daily |