DV DoubleVerify Holdings, Inc. Common Stock
$13.32
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026
52W Range
$8–$16
65% of range
Analyst Rating
BUY
26 analysts
Price Target
$14
+2% upside
P/E (TTM)
44.4
ROE
4.6%
Net Profit Margin
6.8%
DV Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.32
Market Cap
$2.16B
P/E (TTM)
44.4
EPS (TTM)
$0.30
Revenue (TTM)
$748M
Div Yield
—
ROE
4.6%
Debt/Equity
—
52W Range
$8 – $16
DV Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$748M
2019-12-31
→
2025-12-31
EPS
$0.30
2019-12-31
→
2025-12-31
Free Cash Flow
$173M
2021-12-31
→
2025-12-31
Margins
6.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DV
Peer Median
P/E (TTM)
44.4
197.0
P/S (TTM)
2.9
2.2
P/B
1.9
1.6
Price / FCF
12.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DV
Peer Median
Operating Margin
10.6%
—
Net Profit Margin
6.8%
-4.7%
ROA
3.9%
-2.0%
ROE
4.6%
-4.0%
ROIC
4.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DV
Peer Median
Current Ratio
4.3
1.7
Quick Ratio
4.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DV
Peer Median
Revenue YoY
13.9%
—
Revenue CAGR 3Y
18.3%
—
Revenue CAGR 5Y
25.1%
—
EPS YoY
-6.2%
—
Net Income YoY
-9.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DV
Peer Median
DV Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
26 analysts
- Strong Buy 4 15.4%
- Buy 13 50.0%
- Hold 8 30.8%
- Sell 1 3.8%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-18
Median
$13.60
Now
$13.32
Low
$12.00
High
$14.00
Median target
$13.60
+2.1%
Mean target
$13.52
+1.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.08 | $0.11 | -0.03% |
| March 31, 2026 | $0.04 | $0.06 | -0.02% |
| Dec. 31, 2025 | $0.18 | $0.17 | 0.01% |
| Sept. 30, 2025 | $0.06 | $0.10 | -0.04% |
| June 30, 2025 | $0.06 | $0.06 | 0.00% |
| March 31, 2025 | $0.01 | $0.02 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DV | $1.85B | 38.1 | 13.9% | 6.8% | 4.6% | — |
| TTD | $18.07B | 42.2 | 18.5% | 15.3% | 17.1% | — |
| NIQ | $4.86B | -12.5 | 5.7% | -8.4% | -67.4% | — |
| MGNI | $2.32B | 17.1 | 6.9% | 20.3% | 17.1% | — |
| STGW | — | -1.4 | 2.4% | 1.0% | 5.3% | — |
| CCO | — | 55.2 | 6.6% | — | — | — |
| MNTN | $0 | -91.8 | 28.6% | -2.2% | -2.4% | 77.2% |
| IBTA | $740M | 189.4 | -6.8% | 1.0% | 1.1% | 79.2% |
| PUBM | — | -28.6 | -2.9% | -5.1% | -5.7% | 63.6% |
| OMC | $25.28B | -299.1 | 10.1% | -0.32% | -0.67% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $748M | $657M | $573M | $452M | $333M | $244M | $183M | |
| Cost of Revenue | $133M | $117M | $107M | $78M | $54M | $36M | $25M | |
| R&D Expense | $178M | $153M | $125M | $95M | $63M | $47M | $32M | |
| SG&A Expense | $110M | $92M | $88M | $79M | $81M | $53M | $27M | |
| Operating Income | $79M | $82M | $86M | $59M | $27M | $21M | $39M | |
| Interest Expense | $2M | $1M | $1M | $905.0K | $1M | $5M | $5M | |
| Interest Income | · | · | $11M | $2M | $11.0K | · | · | |
| Other Non-op | $5M | $7M | $11M | $1M | $309.0K | $885.0K | $1M | |
| Pretax Income | $83M | $89M | $96M | $59M | $26M | $17M | $35M | |
| Income Tax | $32M | $33M | $24M | $16M | $-3M | $-3M | $12M | |
| Net Income | $51M | $56M | $71M | $43M | $29M | $20M | $23M | |
| EPS (Basic) | $0.31 | $0.33 | $0.43 | $0.26 | $0.20 | $0.15 | $0.17 | |
| EPS (Diluted) | $0.30 | $0.32 | $0.41 | $0.25 | $0.18 | $0.14 | $0.16 | |
| Shares (Basic) | 162,780,000 | 170,515,000 | 167,803,000 | 163,882,000 | 148,309,000 | 138,072,000 | 139,650,000 | |
| Shares (Diluted) | 166,683,000 | 175,076,000 | 173,435,000 | 170,755,000 | 160,264,000 | 145,443,000 | 143,046,000 | |
| EBITDA | $136M | $128M | $127M | $93M | $57M | · | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $259M | $293M | $310M | $268M | $222M | $33M | $11M | |
| Short-term Investments | · | $18M | · | · | · | · | · | |
| Receivables | $221M | $226M | $207M | $167M | $123M | $95M | · | |
| Prepaid Expense | $39M | $22M | $16M | $10M | $23M | $14M | · | |
| Current Assets | $519M | $559M | $533M | $445M | $368M | $142M | · | |
| PP&E (Net) | $103M | $70M | $58M | $47M | $18M | $18M | · | |
| Accum. Depreciation | $83M | $54M | $38M | $26M | $27M | $15M | · | |
| Goodwill | $516M | $428M | $436M | $343M | $351M | $227M | · | |
| Intangibles | $102M | $110M | $141M | $135M | $153M | $122M | · | |
| Other Non-current Assets | $16M | $6M | $2M | $2M | $3M | $2M | · | |
| Total Assets | $1.35B | $1.28B | $1.24B | $1.04B | $892M | $511M | · | |
| Accounts Payable | $15M | $12M | $13M | $7M | $4M | $3M | · | |
| Accrued Liabilities | $74M | $55M | $44M | $33M | $41M | $25M | · | |
| Current Liabilities | $122M | $103M | $84M | $69M | $57M | $34M | · | |
| Capital Leases | $78M | $77M | $72M | $74M | $3M | $3M | · | |
| Deferred Tax | $11M | $9M | $8M | $13M | $30M | $31M | · | |
| Other Non-current Liabilities | $6M | $3M | $3M | $4M | $3M | $3M | · | |
| Total Liabilities | $223M | $193M | $169M | $160M | $93M | $95M | · | |
| Common Stock | $177.0K | $174.0K | $171.0K | $165.0K | $162.0K | $140.0K | · | |
| Paid-in Capital | $1.06B | $974M | $878M | $756M | $717M | $621M | · | |
| Retained Earnings | $306M | $255M | $199M | $128M | $84M | $55M | · | |
| Treasury Stock | $248M | $132M | $743.0K | $796.0K | $2M | $261M | · | |
| AOCI | $13M | $-15M | $-3M | $-6M | $-771.0K | $1M | · | |
| Stockholders' Equity | $1.13B | $1.08B | $1.07B | $877M | $799M | $417M | $318M | |
| Liabilities + Equity | $1.35B | $1.28B | $1.24B | $1.04B | $892M | $511M | · | |
| Shares Outstanding | 161,900,000 | 167,069,000 | 171,146,000 | 165,417,000 | 162,297,000 | 125,074,000 | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $57M | $45M | $41M | $34M | $30M | $25M | $22M | |
| Stock-based Comp | $104M | $91M | $59M | $42M | $22M | $6M | · | |
| Deferred Tax | $4M | $-22M | $-25M | $-20M | $-8M | $-5M | $2M | |
| Amort. of Intangibles | $30M | $29M | $28M | $25M | $19M | $18M | $17M | |
| Other Non-cash | $-4M | $-11M | $-27M | $-5M | $31M | · | · | |
| Operating Cash Flow | $211M | $160M | $120M | $95M | $83M | $21M | $29M | |
| CapEx | $39M | $27M | $17M | $40M | $9M | $10M | $6M | |
| Investing Cash Flow | $-105M | $-45M | $-84M | $-40M | $-159M | $-10M | $-63M | |
| Debt Issued | · | · | · | · | · | $90M | $20M | |
| Net Debt Issued | · | · | · | · | $-22M | · | · | |
| Stock Repurchased | $132M | $128M | $5M | $10M | $2M | · | · | |
| Net Stock Activity | $-132M | $-128M | $-5M | $-10M | $-2M | · | · | |
| Financing Cash Flow | $-144M | $-129M | $6M | $-8M | $264M | $10M | $15M | |
| Net Change in Cash | $-34M | $-17M | $42M | $46M | $188M | $22M | $-19M | |
| Taxes Paid | $61M | $42M | $61M | $12M | $8M | $16M | $2M | |
| Free Cash Flow | $173M | $133M | $103M | $55M | $73M | · | · | |
| Levered FCF | $172M | $132M | $102M | $54M | $72M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 10.6% | 12.6% | 15.0% | 13.1% | 8.0% | · | · | |
| Net Margin | 6.8% | 8.6% | 12.5% | 9.6% | 8.8% | · | · | |
| Pretax Margin | 11.1% | 13.5% | 16.8% | 13.1% | 7.8% | · | · | |
| EBITDA Margin | 18.1% | 19.4% | 22.1% | 20.6% | 17.1% | · | · | |
| ROA | 3.9% | 4.5% | 6.3% | 4.5% | 4.2% | · | · | |
| ROE | 4.6% | 5.1% | 6.9% | 5.0% | 3.8% | · | · | |
| ROIC | 4.3% | 4.8% | 5.9% | 4.9% | 3.8% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.3 | 5.4 | 6.4 | 6.5 | 6.4 | · | · | |
| Quick Ratio | 4.0 | 5.2 | 6.2 | 6.3 | 6.0 | · | · | |
| Interest Coverage | 45.7 | 73.7 | 80.4 | 65.2 | 22.8 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.5 | 0.5 | 0.5 | 0.5 | · | · | |
| Receivables Turnover | 3.3 | 3.0 | 3.1 | 3.1 | 3.1 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 13.9% | 14.7% | 26.6% | 36.0% | 36.4% | · | · | |
| Revenue CAGR 3Y | 18.3% | 25.4% | 32.9% | · | · | · | · | |
| Revenue CAGR 5Y | 25.1% | · | · | · | · | · | · | |
| EPS YoY | -6.2% | -21.9% | 64.0% | 38.9% | 28.6% | · | · | |
| EPS CAGR 3Y | 6.3% | 21.1% | 43.1% | · | · | · | · | |
| EPS CAGR 5Y | 16.5% | · | · | · | · | · | · | |
| Net Income YoY | -9.9% | -21.3% | 65.2% | 47.6% | 43.3% | · | · | |
| Net Income CAGR 3Y | 5.4% | 24.3% | 51.7% | · | · | · | · | |
| Net Income CAGR 5Y | 19.9% | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $748M | $657M | $573M | $452M | $333M | · | · | |
| Net Income TTM | $51M | $56M | $71M | $43M | $29M | · | · | |
| Market Cap | $1.85B | $3.21B | $6.29B | $3.63B | $5.40B | · | · | |
| P/E | 38.1 | 60.0 | 89.7 | 87.8 | 184.9 | · | · | |
| P/S | 2.5 | 4.9 | 11.0 | 8.0 | 16.2 | · | · | |
| P/B | 1.6 | 3.0 | 5.9 | 4.1 | 6.8 | · | · | |
| P / Tangible Book | 3.6 | 5.9 | 12.7 | 9.1 | 18.3 | · | · | |
| P / Cash Flow | 8.8 | 20.1 | 52.6 | 38.3 | 65.3 | · | · | |
| P / FCF | 10.7 | 24.2 | 61.3 | 66.2 | 73.6 | · | · | |
| Earnings Yield | 2.6% | 1.7% | 1.1% | 1.1% | 0.54% | · | · |
Income Statement 16
| 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 | $194M | $181M | $206M | $189M | $189M | $165M | $191M | $170M | $156M | $141M | $172M | $144M | $134M | $123M | $134M | $112M | |
| Cost of Revenue | $32M | $33M | $36M | $33M | $33M | $31M | $34M | $29M | $26M | $27M | $30M | $26M | $26M | $24M | $23M | $19M | |
| R&D Expense | $46M | $45M | $42M | $45M | $47M | $45M | $38M | $39M | $40M | $36M | $33M | $32M | $32M | $29M | $26M | $24M | |
| SG&A Expense | $27M | $26M | $27M | $27M | $30M | $27M | $24M | $23M | $23M | $22M | $25M | $23M | $20M | $20M | $18M | $19M | |
| Operating Income | $23M | $16M | $38M | $21M | $14M | $7M | $39M | $26M | $11M | $7M | $38M | $18M | $15M | $15M | $29M | $14M | |
| Interest Expense | $475.0K | $413.0K | $403.0K | $467.0K | $443.0K | $420.0K | $300.0K | $353.0K | $233.0K | $232.0K | $275.0K | $288.0K | $247.0K | $256.0K | $224.0K | $226.0K | |
| Interest Income | · | · | · | · | · | · | · | · | $3M | $3M | · | · | $3M | $3M | · | · | |
| Other Non-op | $-644.0K | $-993.0K | $59.0K | $-99.0K | $2M | $3M | $-1M | $4M | $2M | $2M | $4M | $2M | $2M | $3M | $2M | $-231.0K | |
| Pretax Income | $22M | $14M | $37M | $21M | $15M | $10M | $37M | $30M | $13M | $9M | $42M | $20M | $17M | $18M | $30M | $14M | |
| Income Tax | $9M | $8M | $8M | $10M | $6M | $7M | $14M | $11M | $5M | $2M | $9M | $6M | $4M | $6M | $12M | $4M | |
| Net Income | $13M | $6M | $29M | $10M | $9M | $2M | $23M | $18M | $7M | $7M | $33M | $13M | $13M | $12M | $18M | $10M | |
| EPS (Basic) | $0.08 | $0.04 | $0.19 | $0.06 | $0.05 | $0.01 | $0.14 | $0.11 | $0.04 | $0.04 | $0.20 | $0.08 | $0.08 | $0.07 | $0.11 | $0.06 | |
| EPS (Diluted) | $0.08 | $0.04 | $0.18 | $0.06 | $0.05 | $0.01 | $0.14 | $0.10 | $0.04 | $0.04 | $0.19 | $0.08 | $0.07 | $0.07 | $0.10 | $0.06 | |
| Shares (Basic) | 153,959,000 | 160,772,000 | -327,108,000 | 162,031,000 | 162,740,000 | 165,117,000 | -342,673,000 | 170,254,000 | 171,628,000 | 171,306,000 | -332,974,000 | 168,606,000 | 166,540,000 | 165,631,000 | -326,637,000 | 164,297,000 | |
| Shares (Diluted) | 157,891,000 | 164,108,000 | -335,452,000 | 166,497,000 | 166,697,000 | 168,941,000 | -350,920,000 | 173,911,000 | 175,961,000 | 176,124,000 | -344,690,000 | 173,980,000 | 172,488,000 | 171,657,000 | -340,783,000 | 170,876,000 | |
| EBITDA | $23M | $31M | · | $21M | $14M | $19M | · | $26M | $11M | $18M | · | $18M | $15M | $24M | · | $14M |
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 | $210M | $174M | $259M | $201M | $212M | $156M | $293M | $312M | $256M | $302M | $310M | $259M | $295M | $286M | $268M | $243M | |
| Short-term Investments | · | · | · | · | $5M | $18M | $18M | $51M | $83M | $32M | · | · | · | · | · | · | |
| Receivables | $215M | $223M | $221M | $218M | $189M | $213M | $226M | $193M | $188M | $196M | · | $191M | $176M | $174M | · | $141M | |
| Prepaid Expense | $46M | $55M | $39M | $59M | $57M | $34M | $22M | $24M | $33M | $20M | · | $19M | $21M | $17M | · | $21M | |
| Current Assets | $471M | $451M | $519M | $477M | $462M | $422M | $559M | $580M | $560M | $550M | · | $469M | $492M | $477M | · | $405M | |
| PP&E (Net) | $129M | $106M | $103M | $98M | $92M | $86M | $70M | $67M | $65M | $61M | · | $56M | $55M | $49M | · | $43M | |
| Accum. Depreciation | $97M | $91M | $83M | $74M | $67M | $59M | $54M | $49M | $45M | $41M | · | $34M | $31M | $29M | · | $24M | |
| Goodwill | $512M | $513M | $516M | $517M | $517M | $505M | $428M | $438M | $431M | $433M | $436M | $431M | $344M | $344M | $343M | $337M | |
| Intangibles | $88M | $95M | $102M | $108M | $116M | $122M | $110M | $120M | $125M | $133M | · | $147M | $123M | $129M | · | $141M | |
| Other Non-current Assets | $16M | $16M | $16M | $13M | $11M | $11M | $6M | $6M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Total Assets | $1.31B | $1.27B | $1.35B | $1.30B | $1.30B | $1.25B | $1.28B | $1.31B | $1.27B | $1.26B | · | $1.18B | $1.08B | $1.06B | · | $1.00B | |
| Accounts Payable | $13M | $12M | $15M | $13M | $13M | $13M | $12M | $13M | $11M | $13M | · | $10M | $9M | $11M | · | $12M | |
| Accrued Liabilities | $52M | $50M | $74M | $70M | $59M | $42M | $55M | $47M | $44M | $34M | · | $42M | $37M | $25M | · | $31M | |
| Current Liabilities | $105M | $95M | $122M | $120M | $105M | $114M | $103M | $88M | $80M | $75M | · | $75M | $66M | $76M | · | $58M | |
| Capital Leases | $75M | $76M | $78M | $79M | $78M | $77M | $77M | $80M | $76M | $75M | · | $73M | $73M | $74M | · | $76M | |
| Deferred Tax | $13M | $11M | $11M | $8M | $9M | $8M | $9M | $10M | $7M | $8M | · | $9M | $1M | $8M | · | $24M | |
| Other Non-current Liabilities | $7M | $7M | $6M | $6M | $8M | $8M | $3M | $3M | $3M | $3M | · | $4M | $4M | $3M | · | $3M | |
| Total Liabilities | $216M | $193M | $223M | $220M | $207M | $217M | $193M | $182M | $167M | $163M | · | $164M | $148M | $162M | · | $161M | |
| Common Stock | $177.0K | $177.0K | $177.0K | $176.0K | $176.0K | $175.0K | $174.0K | $173.0K | $173.0K | $172.0K | · | $170.0K | $167.0K | $166.0K | · | $165.0K | |
| Paid-in Capital | $1.07B | $1.07B | $1.06B | $1.05B | $1.03B | $999M | $974M | $949M | $926M | $899M | · | $858M | $788M | $769M | · | $744M | |
| Retained Earnings | $325M | $312M | $306M | $277M | $266M | $258M | $255M | $232M | $214M | $206M | · | $166M | $153M | $140M | · | $109M | |
| Treasury Stock | $313M | $305M | $248M | $260M | $217M | $217M | $132M | $51M | $25M | $1M | · | $397.0K | $528.0K | $669.0K | · | $1M | |
| AOCI | $9M | $8M | $13M | $13M | $12M | $-7M | $-15M | $-163.0K | $-9M | $-7M | · | $-12M | $-6M | $-5M | · | $-13M | |
| Stockholders' Equity | $1.09B | $1.08B | $1.13B | $1.08B | $1.09B | $1.03B | $1.08B | $1.13B | $1.11B | $1.10B | $1.07B | $1.01B | $934M | $903M | $877M | $840M | |
| Liabilities + Equity | $1.31B | $1.27B | $1.35B | $1.30B | $1.30B | $1.25B | $1.28B | $1.31B | $1.27B | $1.26B | · | $1.18B | $1.08B | $1.06B | · | $1.00B | |
| Shares Outstanding | 154,935,000 | 155,929,000 | 161,900,000 | 161,094,000 | 163,575,000 | 162,478,000 | 167,069,000 | 170,631,000 | 171,244,000 | 171,724,000 | · | 169,905,000 | 167,234,000 | 166,131,000 | · | 164,696,000 |
Cash Flow 14
| 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 | $17M | $15M | $14M | $15M | $15M | $12M | $12M | $11M | $11M | $11M | $12M | $11M | $10M | $9M | $9M | $8M | |
| Stock-based Comp | $26M | $24M | $25M | $27M | $27M | $24M | $23M | $23M | $25M | $20M | $16M | $16M | $15M | $12M | $11M | $11M | |
| Amort. of Intangibles | $6M | $7M | $7M | $8M | $8M | $7M | $7M | $7M | $7M | $7M | $8M | $7M | $6M | $6M | $6M | $6M | |
| Other Non-cash | · | $-42M | · | · | · | $-1M | · | · | · | $-7M | · | · | · | $-12M | · | · | |
| Operating Cash Flow | $76M | $4M | $73M | $51M | $50M | $38M | $37M | $55M | $36M | $32M | $52M | $36M | $11M | $21M | $37M | $32M | |
| CapEx | $11M | $11M | $11M | $12M | $10M | $6M | $7M | $6M | $7M | $6M | $5M | $5M | $4M | $4M | $12M | $14M | |
| Investing Cash Flow | $-11M | $-11M | $-12M | $-7M | $3M | $-90M | $25M | $26M | $-57M | $-39M | $-5M | $-72M | $-4M | $-4M | $-12M | $-14M | |
| Stock Repurchased | $25M | $75M | $0 | $50M | $0 | $82M | $78M | $25M | $23M | $2M | · | $945.0K | $2M | $787.0K | · | $492.0K | |
| Net Stock Activity | · | $-75M | · | · | · | $-82M | · | · | · | $-2M | · | · | · | $-787.0K | · | · | |
| Financing Cash Flow | $-29M | $-78M | $-3M | $-55M | $-291.0K | $-86M | $-79M | $-26M | $-24M | $-912.0K | $3M | $531.0K | $3M | $466.0K | $663.0K | $2M | |
| Net Change in Cash | $36M | $-85M | $58M | $-11M | $56M | $-136M | $-19M | $56M | $-45M | $-8M | $51M | $-36M | $10M | $18M | $25M | $19M | |
| Taxes Paid | · | · | $3M | $2M | $53M | $2M | $6M | $7M | $28M | $1M | $8M | $11M | $40M | $2M | $2M | $9M | |
| Free Cash Flow | · | $-6M | · | · | · | $31M | · | · | · | $25M | · | · | · | $17M | · | · | |
| Levered FCF | · | $-7M | · | · | · | $31M | · | · | · | $25M | · | · | · | $17M | · | · |
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 | 11.9% | 8.6% | · | 11.2% | 7.2% | 4.1% | · | 15.2% | 7.1% | 4.9% | · | 12.7% | 10.9% | 12.4% | · | 12.8% | |
| Net Margin | 6.7% | 3.5% | · | 5.4% | 4.6% | 1.4% | · | 10.7% | 4.8% | 5.1% | · | 9.3% | 9.6% | 9.9% | · | 9.2% | |
| Pretax Margin | 11.3% | 7.9% | · | 10.9% | 8.1% | 5.8% | · | 17.5% | 8.3% | 6.3% | · | 13.6% | 12.6% | 14.4% | · | 12.4% | |
| EBITDA Margin | 11.9% | 17.1% | · | 11.2% | 7.2% | 11.6% | · | 15.2% | 7.1% | 12.7% | · | 12.7% | 10.9% | 19.7% | · | 12.8% | |
| ROA | 0.99% | 0.51% | · | 0.78% | 0.68% | 0.19% | · | 1.5% | 0.63% | 0.62% | · | 1.2% | 1.2% | 1.2% | · | 1.1% | |
| ROE | 1.2% | 0.61% | · | 0.92% | 0.80% | 0.22% | · | 1.7% | 0.73% | 0.72% | · | 1.4% | 1.5% | 1.4% | · | 1.3% | |
| ROIC | 1.2% | 0.65% | · | 0.97% | 0.72% | 0.16% | · | 1.4% | 0.58% | 0.50% | · | 1.2% | 1.2% | 1.2% | · | 1.3% |
Liquidity & Solvency 3
| 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 | 4.5 | 4.8 | · | 4.0 | 4.4 | 3.7 | · | 6.6 | 7.0 | 7.3 | · | 6.3 | 7.4 | 6.3 | · | 7.0 | |
| Quick Ratio | 4.1 | 4.2 | · | 3.5 | 3.9 | 3.4 | · | 6.3 | 6.6 | 7.0 | · | 6.0 | 7.1 | 6.1 | · | 6.6 | |
| Interest Coverage | 48.5 | 37.9 | · | 45.2 | 30.6 | 16.1 | · | 72.9 | 47.4 | 29.7 | · | 63.3 | 59.3 | 59.4 | · | 63.7 |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.0 | 0.8 | · | 0.9 | 1.0 | 0.8 | · | 0.9 | 0.9 | 0.8 | · | 0.9 | 0.8 | 0.8 | · | 0.9 |
Valuation (TTM) 10
| 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 | $752M | $724M | · | $712M | $680M | $631M | · | $610M | $574M | $541M | · | $513M | $478M | $441M | · | $402M | |
| Net Income TTM | $38M | $28M | · | $40M | $37M | $35M | · | $46M | $41M | $46M | · | $49M | $46M | $37M | · | $33M | |
| Market Cap | $1.68B | $1.48B | · | $1.93B | $2.45B | $2.17B | · | $2.87B | $3.33B | $6.04B | · | $4.75B | $6.51B | $5.01B | · | $4.50B | |
| P/E | 47.1 | 59.4 | · | 54.5 | 74.8 | 70.4 | · | 64.8 | 84.7 | 135.2 | · | 99.8 | 149.7 | 137.0 | · | 136.8 | |
| P/S | 2.2 | 2.0 | · | 2.7 | 3.6 | 3.4 | · | 4.7 | 5.8 | 11.2 | · | 9.3 | 13.6 | 11.3 | · | 11.2 | |
| P/B | 1.5 | 1.4 | · | 1.8 | 2.2 | 2.1 | · | 2.5 | 3.0 | 5.5 | · | 4.7 | 7.0 | 5.5 | · | 5.4 | |
| P / Tangible Book | 3.4 | 3.1 | · | 4.3 | 5.4 | 5.4 | · | 5.0 | 6.1 | 11.4 | · | 11.0 | 13.9 | 11.6 | · | 12.4 | |
| P / Cash Flow | · | 355.1 | · | · | · | 57.7 | · | · | · | 190.0 | · | · | · | 233.8 | · | · | |
| P / FCF | · | -232.5 | · | · | · | 69.2 | · | · | · | 237.9 | · | · | · | 289.1 | · | · | |
| Earnings Yield | 2.1% | 1.7% | · | 1.8% | 1.3% | 1.4% | · | 1.5% | 1.2% | 0.74% | · | 1.0% | 0.67% | 0.73% | · | 0.73% |
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 | $748M | $657M | $573M | $452M | $333M |
| Operating Margin % | 10.6% | 12.6% | 15.0% | 13.1% | 8.0% |
| Net Income | $51M | $56M | $71M | $43M | $29M |
| Diluted EPS | $0.30 | $0.32 | $0.41 | $0.25 | $0.18 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 4.3 | 5.4 | 6.4 | 6.5 | 6.4 |
| Quick Ratio | 4.0 | 5.2 | 6.2 | 6.3 | 6.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $173M | $133M | $103M | $55M | $73M |
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Institutional owners (13F) 356 filers · $1.3B 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 |
|---|---|---|---|---|
| 59 (-14 vs prior Q) | 55 (+27 vs prior Q) | 103 (-21 vs prior Q) | 122 (+34 vs prior Q) | +17.1M |
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 |
|---|---|---|---|---|
| Providence Equity Partners L.L.C. | $198,822,662 | 18,341,574 | 15.58% | Shares |
| DISCIPLINED GROWTH INVESTORS INC /MN | $105,030,283 | 9,689,140 | 8.23% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $96,926,662 | 8,941,574 | 7.59% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $64,118,123 | 5,914,956 | 5.02% | Shares |
| Burgundy Asset Management Ltd. | $58,706,585 | 3,608,272 | 4.60% | Shares |
| STATE STREET CORP | $58,266,626 | 5,375,150 | 4.56% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $54,586,554 | 5,035,660 | 4.28% | Shares |
| Topline Capital Management, LLC | $34,845,343 | 3,214,515 | 2.73% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $32,989,144 | 3,043,279 | 2.58% | Shares |
| FIRST TRUST ADVISORS LP | $32,834,370 | 3,029,025 | 2.57% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $31,886,609 | 2,940,924 | 2.50% | Shares |
| AMERIPRISE FINANCIAL INC | $23,136,811 | 2,134,392 | 1.81% | Shares |
| BANK OF AMERICA CORP /DE/ | $19,662,719 | 1,813,904 | 1.54% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $19,188,209 | 1,770,130 | 1.50% | Shares |
| ZWJ INVESTMENT COUNSEL INC | $18,343,188 | 1,692,176 | 1.44% | Shares |
| TWO SIGMA INVESTMENTS, LP | $15,810,411 | 1,458,525 | 1.24% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $15,514,013 | 1,431,182 | 1.22% | Shares |
| GOLDMAN SACHS GROUP INC | $14,887,721 | 1,373,406 | 1.17% | Shares |
| Assenagon Asset Management S.A. | $14,851,104 | 1,370,028 | 1.16% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,857,585 | 1,278,375 | 1.09% | Shares |
| First Eagle Investment Management, LLC | $12,574,400 | 1,160,000 | 0.99% | Shares |
| Trexquant Investment LP | $11,033,169 | 1,017,820 | 0.86% | Shares |
| Gotham Asset Management, LLC | $10,839,458 | 999,950 | 0.85% | Shares |
| RIVERBRIDGE PARTNERS LLC | $10,547,198 | 972,989 | 0.83% | Shares |
| BlackRock, Inc. | $10,246,889 | 945,285 | 0.80% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $9,896,714 | 912,981 | 0.78% | Shares |
| Veradace Capital Management LLC | $9,315,246 | 859,340 | 0.73% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $9,060,343 | 835,825 | 0.71% | Shares |
| Quantinno Capital Management LP | $8,997,037 | 829,985 | 0.70% | Shares |
| FMR LLC | $8,459,298 | 780,378 | 0.66% | Shares |
| Horizon Investments, LLC | $8,384,306 | 82,604 | 0.66% | Shares |
| Qube Research & Technologies Ltd | $7,473,703 | 689,456 | 0.59% | Shares |
| Cubist Systematic Strategies, LLC | $7,228,501 | 603,381 | 0.57% | Shares |
| Ruffer LLP | $6,752,292 | 623,608 | 0.53% | Shares |
| Public Sector Pension Investment Board | $5,915,030 | 545,667 | 0.46% | Shares |
| Susquehanna Portfolio Strategies, LLC | $5,895,952 | 543,907 | 0.46% | Shares |
| GAGNON SECURITIES LLC | $5,672,876 | 523,328 | 0.44% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $5,410,504 | 499,124 | 0.42% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $5,208,620 | 480,500 | 0.41% | Shares |
| Rockefeller Capital Management L.P. | $5,094,518 | 469,974 | 0.40% | Shares |
| Gagnon Advisors, LLC | $4,748,343 | 438,039 | 0.37% | Shares |
| TWO SIGMA ADVISERS, LP | $4,706,416 | 411,400 | 0.37% | Shares |
| OSSIAM | $4,601,569 | 424,499 | 0.36% | Shares |
| Kerrisdale Advisers, LLC | $4,319,079 | 398,439 | 0.34% | Shares |
| Bank of New York Mellon Corp | $4,089,271 | 377,239 | 0.32% | Shares |
| Crestwood Capital Management, L.P. | $4,011,450 | 370,060 | 0.31% | Shares |
| Edgestream Partners, L.P. | $3,824,200 | 352,786 | 0.30% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,820,499 | 352,445 | 0.30% | Shares |
| Robeco Institutional Asset Management B.V. | $3,784,210 | 349,097 | 0.30% | Shares |
| AMERICAN CENTURY COMPANIES INC | $3,743,908 | 345,379 | 0.29% | Shares |
| NATIXIS | $3,740,884 | 345,100 | 0.29% | Shares |
| Diversified Investment Strategies, LLC | $3,703,757 | 341,675 | 0.29% | Shares |
| JSF Financial, LLC | $3,434,448 | 316,831 | 0.27% | Shares |
| RHUMBLINE ADVISERS | $3,408,889 | 314,475 | 0.27% | Shares |
| ING GROEP NV | $3,252,000 | 300,000 | 0.25% | Shares |
| Crossmark Global Holdings, Inc. | $2,994,138 | 276,212 | 0.23% | Shares |
| Swiss National Bank | $2,992,924 | 276,100 | 0.23% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $2,797,079 | 258,033 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,648,570 | 244,333 | 0.21% | Shares |
| CITADEL ADVISORS LLC | $2,492,333 | 229,920 | 0.20% | Shares |
| BARCLAYS PLC | $2,482,534 | 229,016 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,480,192 | 228,800 | 0.19% | Call option |
| Holocene Advisors, LP | $2,404,702 | 221,836 | 0.19% | Shares |
| CWM, LLC | $2,393,687 | 251,967 | 0.19% | Shares |
| Pale Fire Capital SE | $2,388,442 | 220,336 | 0.19% | Shares |
| Brevan Howard Capital Management LP | $2,377,255 | 219,304 | 0.19% | Shares |
| HIGHLAND CAPITAL MANAGEMENT, LLC | $2,213,701 | 204,216 | 0.17% | Shares |
| Caption Management, LLC | $2,168,000 | 200,000 | 0.17% | Put option |
| Legal & General Group Plc | $2,092,337 | 193,020 | 0.16% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $2,072,206 | 191,163 | 0.16% | Shares |
| D. E. Shaw & Co., Inc. | $2,009,389 | 185,368 | 0.16% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,868,957 | 172,413 | 0.15% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,853,304 | 170,969 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,762,697 | 185,547 | 0.14% | Shares |
| WOLVERINE TRADING, LLC | $1,745,507 | 143,900 | 0.14% | Put option |
| BANK OF NOVA SCOTIA | $1,713,425 | 158,065 | 0.13% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,702,486 | 179,209 | 0.13% | Shares |
| XTX Topco Ltd | $1,691,745 | 156,065 | 0.13% | Shares |
| Point72 Asset Management, L.P. | $1,651,463 | 152,349 | 0.13% | Shares |
| Dana Investment Advisors, Inc. | $1,629,870 | 150,357 | 0.13% | Shares |
| Amundi | $1,575,268 | 145,320 | 0.12% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $1,574,380 | 145,238 | 0.12% | Shares |
| PEAK6 LLC | $1,517,600 | 140,000 | 0.12% | Call option |
| ROYCE & ASSOCIATES LP | $1,495,400 | 137,952 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,488,234 | 137,291 | 0.12% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,461,113 | 134,789 | 0.11% | Shares |
| MACKENZIE FINANCIAL CORP | $1,447,639 | 133,546 | 0.11% | Shares |
| IEQ CAPITAL, LLC | $1,430,707 | 131,984 | 0.11% | Shares |
| DIVERSIFIED TRUST CO | $1,350,653 | 124,599 | 0.11% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $1,298,979 | 119,832 | 0.10% | Shares |
| State of New Jersey Common Pension Fund D | $1,288,833 | 118,896 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,272,204 | 117,362 | 0.10% | Shares |
| Campbell & CO Investment Adviser LLC | $1,226,990 | 113,191 | 0.10% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $1,151,848 | 106,259 | 0.09% | Shares |
| Penbrook Management LLC | $1,112,834 | 102,660 | 0.09% | Shares |
| Vanguard Global Advisers, LLC | $1,101,680 | 101,631 | 0.09% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,099,176 | 101,400 | 0.09% | Call option |
| MORGAN STANLEY | $1,022,212 | 94,300 | 0.08% | Shares |
| Jump Financial, LLC | $959,340 | 88,500 | 0.08% | Shares |
| Mariner, LLC | $941,504 | 86,849 | 0.07% | Shares |
Company insiders 18 insiders · 6 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mark Zagorski | Chief Executive Officer | June 30, 2026 M | 580,364 | 0 | 0 | $0 |
| Nicola T Allais | Chief Financial Officer | June 15, 2026 M | 172,459 | 0 | 0 | $0 |
| Matthew F. Mclaughlin | Chief Operating Officer | March 24, 2022 S | 451,597 | 0 | 0 | $0 |
| Steven John Mougis | Global Chief Comm. Officer | June 15, 2026 M | 95,160 | 0 | 0 | $0 |
| Andrew E Grimmig | Chief Legal Officer | June 15, 2026 M | 169,718 | 0 | 0 | $0 |
| Julie Eddleman | Global Chief Comm. Officer | June 15, 2025 M | 209,330 | 0 | 0 | $0 |
| Jennifer Storms | Director | June 2, 2026 M | 14,728 | 0 | 0 | $0 |
| Lucy Stamell Dobrin | Director | Sept. 9, 2025 S | 0 | 0 | 1 | $-92,748 |
| Robert Davis Noell | Director | Sept. 9, 2025 J | 40,658 | 0 | 0 | $0 |
| Laura Desmond | Director | Sept. 3, 2025 M | 223,945 | 0 | 0 | $0 |
| Sundeep Jain | Director | May 21, 2025 A | 10,724 | 0 | 0 | $0 |
| Rosario C Perez | Director | May 21, 2025 A | 31,917 | 0 | 0 | $0 |
| Gary Swidler | Director | May 21, 2025 A | 15,565 | 0 | 0 | $0 |
| Kelli Turner | Director | May 21, 2025 A | 25,479 | 0 | 0 | $0 |
| Scott Wagner | Director | May 21, 2025 A | 31,917 | 0 | 0 | $0 |
| Teri List-Stoll | Director | June 5, 2023 A | 59,508 | 0 | 0 | $0 |
| David J. Phillips | 10% owner | Nov. 21, 2025 G | 15,360 | 0 | 0 | $0 |
| Michael Dominguez | 10% owner | Nov. 21, 2025 G | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 75 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 |
|---|---|---|---|---|
| PSCU · Invesco Exchange-Traded Fund Trust … | 1.68% | 22,310 SH | Aug. 8, 2026 | Daily |
| RNIN · EA Series Trust | 1.29% | 179,405 NS | April 30, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 1.27% | 1,707,803 NS | April 30, 2026 | N-PORT |
| CAFG · Pacer Funds Trust | 0.40% | 8,210 NS | April 30, 2026 | N-PORT |
| SCOW · Pacer Funds Trust | 0.35% | 488 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.27% | 45,718 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.25% | 5,874 NS | April 30, 2026 | N-PORT |
| HAPS · Harbor ETF Trust | 0.22% | 31,795 NS | April 30, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 0.21% | 661,063 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.20% | 219,236 NS | April 30, 2026 | N-PORT |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.16% | 108,171 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.16% | 126,872 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.12% | 143,221 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.11% | 244,614 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.10% | 20,062 SH | Aug. 8, 2026 | Daily |
| GGME · Invesco Exchange-Traded Fund Trust | 0.10% | 3,547 SH | Aug. 8, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 673,143 NS | April 30, 2026 | N-PORT |
| IJT · iShares Trust | 0.10% | 697,517 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.09% | 15,140 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.09% | 634,980 NS | April 30, 2026 | N-PORT |
| FCOM · FIDELITY COVINGTON TRUST | 0.09% | 147,614 NS | April 30, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.09% | 89,454 SH | Aug. 8, 2026 | Daily |
| VOX · VANGUARD WORLD FUND | 0.09% | 491,812 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.09% | 254,267 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.09% | 211,577 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.08% | 1,054,823 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.08% | 7,770,981 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.08% | 52,355 NS | April 30, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.07% | 444,036 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.07% | 125,574 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.07% | 467,893 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.06% | 110,815 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.06% | 95,237 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.06% | 1,598 NS | May 31, 2026 | N-PORT |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.06% | 7,112 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.05% | 3,592,123 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 811,892 SH | Aug. 8, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.05% | 1,723 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.05% | 575,615 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 9,015 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.04% | 521,155 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.04% | 1,716,004 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.03% | 3,631 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 645,209 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.03% | 21,970 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.02% | 6,077 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.02% | 8,773 NS | April 30, 2026 | N-PORT |
| ISCV · iShares Trust | 0.02% | 13,582 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,464,557 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 2,983,547 SH | Aug. 8, 2026 | Daily |