HCC Warrior Met Coal, Inc. Common Stock
$103.06
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$55–$110
87% of range
Analyst Rating
BUY
13 analysts
Price Target
$103
P/E (TTM)
95.4
ROE
2.7%
Net Profit Margin
4.3%
About Warrior Met Coal, Inc. Common Stock Company overview from Wikipedia
Tokio Marine HCC is an international insurance group with offices across the United States, the United Kingdom, Spain, and Ireland. The company is based in Houston, Texas, U.S.
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Tokio Marine HCC is an international insurance group with offices across the United States, the United Kingdom, Spain, and Ireland. The company is based in Houston, Texas, U.S.
History
The company (formerly HCC Insurance Holdings, Inc.) was formed as Houston Casualty Company in 1974 by Stephen L. Way.
On June 10, 2015, the company announced it was being acquired by Japan's Tokio Marine for a fee of $7.5 billion. On October 27, 2015, the company announced the closing of the acquisition by Tokio Marine. The aggregate consideration paid in connection with the merger was approximately $7.5 billion, and the merger became effective at 4:05 p.m. EDT.
Aviation
Aviation was the first line of insurance provided by Tokio Marine HCC. The company's insurance for aviation includes liability, cargo, and war. HCC Aviation insures approximately 45,000 aircraft in the United States and more than 60 countries worldwide.
Avemco Insurance Company was a stand-alone NYSE company acquired by Tokio Marine HCC in 1997. Avemco provides insurance policies for renters and borrowers of general aviation aircraft.
Houston Casualty Company Aviation (HC Aviation) writes a combination of international and U.S. commercial aviation insurance. USSIC Aviation writes General Aviation and special risk insurance. USSIC Aviation specializes in insuring warbirds (propeller- and jet-driven military surplus aircraft owned individually or held by aircraft museums).
Liability
The company underwrites Directors and officers liability insurance through its HCC Global subsidiary. The company offers both domestic U.S. and international coverage. The company offers its international coverage through independent insurance brokers.
Accident and health
Tokio Marine HCC provides sports disability insurance for professional teams and individual athletes.
International operations
Houston Casualty Company was authorized by Her Majesty's Treasury in 1998 to operate a full branch office in the United Kingdom. HCC has offices in the United Kingdom, Ireland, and Spain. Tokio Marine HCC is an owner of a Lloyd's managing agency and 100% capital provider of a Lloyd's syndicate.
In anticipation of Brexit, a new insurance company, Tokio Marine Europe S.A. (TME), was set up in Luxembourg, following regulatory approval from the Commissariat aux Assurances (CAA) and the Japanese Financial Services Authority (JFSA). TME operates as a subsidiary of HCC International Insurance Company plc. in partnership with Tokio Marine Kiln. With approval from the High Court of England and Wales, the Part VII process of transferring the existing portfolio of policies written out of Continental European operations to Tokio Marine Europe S.A. was executed.
On May 7, 2018, S&P Global Ratings assigned Tokio Marine Europe S.A. a "AA- (Very Strong)" financial strength rating.
Acquisitions
In 1996, the company acquired LDG Management Company.
In 1997, the company acquired Managed Group Underwriting.
In 1998, the company acquired Guarantee Insurance Resources.
In 1999, the company acquired Centris Group Inc. (insurance company). The same year, the company also acquired Midwest Stop Loss Underwriters.
In 2002, the company acquired Dickson Manchester Ltd. and MAG Global Financial Products.
In 2004, the company acquired American Contractors Indemnity Company and RA&MCO Insurance companies.
In 2005, the company acquired US Surety company, DeMontfort Group, Ltd., Perico Ltd., MIC Life Insurance, and the Ilium Insurance Group.
In 2006, the company acquired Novia Underwriters, Inc., G.B. Kenrick & Associates, and the Health Products Division of Allianz Life Insurance.
In 2008, the company acquired Cox Insurance Group, Arrowhead Public Risk, VMGU Insurance Agency, the Surety Company of the Pacific, and MultiNational Underwriters.
In 2009, the company sold its reinsurance brokerage business Rattner MacKenzie Limited and transferred rights relating to brown water marine to its original owner. The company also combined two of its Lloyd's syndicates. The company formed a Property Treaty underwriting team.
In 2010, the company started a Technical Property division.
In 2011, the company opened Primary Casualty and Excess Casualty divisions.
In 2013, the company expanded into the North American construction property risks market and began offering builders risk treaty reinsurance from its London office.
In 2015, the company acquired Producers Ag Insurance Group (ProAg), a writer of crop insurance.
In 2016, the company acquired Bail USA, Inc., a wholesale bail agency and On Call International.
In 2017, the company acquired AIG's Medical Stop-Loss and Organ Transplant operations.
In 2018, the company acquired Qdos Contractor, a provider of insurance products and services to the UK.
In 2019, the company acquired NAS Insurance Services, LLC.
In 2020, the company acquired GCube.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
HCC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$103.06
Market Cap
$5.42B
P/E (TTM)
95.4
EPS (TTM)
$1.08
Revenue (TTM)
$1.31B
Div Yield
0.33%
ROE
2.7%
Debt/Equity
0.1
52W Range
$55 – $110
HCC 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
$1.31B
2018-12-31
→
2025-12-31
EPS
$1.08
2018-12-31
→
2025-12-31
Free Cash Flow
—
2018-12-31
→
2021-12-31
Margins
4.3%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HCC
Peer Median
P/E (TTM)
95.4
24.1
P/S (TTM)
4.1
0.7
P/B
2.5
1.4
EV / EBITDA
22.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HCC
Peer Median
Operating Margin
3.5%
—
Net Profit Margin
4.3%
0.24%
ROA
2.1%
0.26%
ROE
2.7%
0.42%
ROIC
2.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HCC
Peer Median
Debt / Equity
0.1
—
Current Ratio
3.2
2.2
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HCC
Peer Median
Revenue YoY
-14.1%
—
Revenue CAGR 3Y
-9.0%
—
Revenue CAGR 5Y
10.8%
—
EPS YoY
-77.5%
—
Net Income YoY
-77.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HCC
Peer Median
Payout Ratio
31.3%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.33%
Payout Ratio
31.3%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Aug. 10, 2026 | $0.0800 |
| May 1, 2026 | $0.0800 |
| Feb. 23, 2026 | $0.0800 |
| Nov. 7, 2025 | $0.0800 |
| Aug. 8, 2025 | $0.0800 |
| May 5, 2025 | $0.0800 |
| Feb. 24, 2025 | $0.0800 |
| Nov. 5, 2024 | $0.0800 |
| Aug. 6, 2024 | $0.0800 |
| May 3, 2024 | $0.0800 |
| Feb. 29, 2024 | $0.5000 |
| Feb. 16, 2024 | $0.0800 |
| Nov. 2, 2023 | $0.0700 |
| Aug. 4, 2023 | $0.0700 |
| May 4, 2023 | $0.0700 |
| Feb. 27, 2023 | $0.8800 |
| Feb. 16, 2023 | $0.0700 |
| Nov. 3, 2022 | $0.0600 |
| Aug. 19, 2022 | $0.8000 |
| Aug. 10, 2022 | $0.0600 |
HCC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 4 30.8%
- Buy 5 38.5%
- Hold 4 30.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-17
Median
$99.00
Mean
$102.67
Now
$103.06
Low
$90.00
High
$123.00
Median target
$99.00
-3.9%
Mean target
$102.67
-0.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.20%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.73 | $1.50 | 0.23% |
| March 31, 2026 | $1.37 | $1.53 | -0.16% |
| Dec. 31, 2025 | $0.44 | $0.56 | -0.12% |
| Sept. 30, 2025 | $0.70 | $-0.34 | 1.0% |
| June 30, 2025 | $0.11 | $-0.27 | 0.38% |
| March 31, 2025 | $-0.16 | $0.01 | -0.17% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HCC | $4.64B | 81.6 | -14.1% | 4.3% | 2.7% | — |
| STLD | $24.56B | 21.2 | 3.6% | 6.5% | 13.2% | 13.2% |
| RS | $14.94B | 20.7 | 3.3% | 5.2% | 10.3% | — |
| CMC | $6.41B | 77.9 | -1.6% | 1.1% | 2.0% | — |
| CLF | $7.57B | -4.6 | -3.0% | -7.9% | -23.2% | — |
| AMR | $2.56B | -42.1 | -28.0% | -2.9% | -3.9% | — |
| WS | $2.11B | 248.2 | 11.3% | 0.25% | 0.80% | 11.7% |
| RYZ | — | -14.3 | -0.60% | -1.2% | -7.2% | 17.1% |
| MTUS | — | -572.0 | 6.9% | -0.10% | -0.17% | 8.2% |
| NUE | — | 21.7 | 5.7% | 5.4% | 8.5% | — |
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 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.31B | $1.53B | $1.68B | $1.74B | $1.06B | $783M | $1.27B | $1.38B | $1.17B | $298M | |
| Cost of Revenue | $982M | $1.01B | $910M | $711M | $554M | $625M | $721M | $717M | $593M | · | |
| SG&A Expense | $66M | $63M | $52M | $49M | $36M | $33M | $37M | $37M | $36M | · | |
| Operating Expenses | $1.26B | $1.27B | $1.14B | $937M | $815M | $810M | $885M | $870M | $746M | · | |
| Operating Income | $46M | $255M | $541M | $801M | $244M | $-27M | $383M | $508M | $423M | · | |
| Interest Income | $18M | $33M | $41M | $12M | $1M | · | · | · | · | · | |
| Other Non-op | $0 | $0 | $-1M | $675.0K | $1M | $4M | $23M | · | · | · | |
| Pretax Income | $54M | $284M | $551M | $783M | $200M | $-56M | $367M | $471M | $416M | · | |
| Income Tax | $-3M | $33M | $73M | $142M | $49M | $-20M | $65M | $-226M | $-39M | · | |
| Net Income | $57M | $251M | $479M | $641M | $151M | $-36M | $302M | $697M | $455M | $-50M | |
| EPS (Basic) | $1.08 | $4.79 | $9.21 | $12.42 | $2.94 | $-0.70 | $5.87 | $13.19 | $8.62 | · | |
| EPS (Diluted) | $1.08 | $4.79 | $9.20 | $12.40 | $2.93 | $-0.70 | $5.86 | $13.17 | $8.62 | · | |
| Shares (Basic) | 52,560,000 | 52,287,000 | 51,973,000 | 51,622,000 | 51,382,000 | 51,168,000 | 51,363,000 | 52,812,000 | 52,800,000 | · | |
| Shares (Diluted) | 52,603,000 | 52,345,000 | 52,045,000 | 51,715,000 | 51,445,000 | 51,168,000 | 51,493,000 | 52,918,000 | 52,806,000 | · | |
| EBITDA | $234M | $409M | $669M | · | $385M | $91M | $481M | $605M | $499M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $300M | $492M | $738M | $829M | $396M | $212M | $193M | $206M | $35M | $150M | |
| Receivables | $182M | $141M | $98M | $152M | $122M | $83M | $99M | $138M | $118M | $66M | |
| Inventory | $236M | $208M | $184M | $154M | $60M | $119M | $98M | $57M | $54M | $39M | |
| Prepaid Expense | $50M | $32M | $28M | $26M | $33M | $40M | $24M | $28M | $29M | $12M | |
| Current Assets | $820M | $887M | $1.07B | $1.17B | $627M | $467M | $444M | $469M | $269M | $291M | |
| PP&E (Net) | · | · | · | · | · | · | · | $540M | $537M | $497M | |
| PP&E (Gross) | · | · | · | · | · | · | · | $725M | $648M | $542M | |
| Accum. Depreciation | · | · | · | · | · | · | · | $184M | $112M | $45M | |
| Other Non-current Assets | $28M | $27M | $22M | $20M | $15M | $14M | $18M | $21M | $18M | $17M | |
| Total Assets | $2.78B | $2.59B | $2.36B | $2.03B | $1.46B | $1.39B | $1.34B | $1.40B | $993M | $948M | |
| Accounts Payable | $66M | $40M | $36M | $39M | $34M | $59M | $46M | $34M | $28M | $6M | |
| Accrued Liabilities | $132M | $85M | $82M | $77M | $55M | $86M | $66M | $82M | $67M | $47M | |
| Current Liabilities | $257M | $170M | $148M | $153M | $122M | $170M | $129M | $124M | $108M | $65M | |
| Deferred Tax | $54M | $64M | $75M | $23M | $0 | · | · | $0 | $258.0K | $2M | |
| Other Non-current Liabilities | · | $0 | $0 | $500.0K | $2M | $2M | $1M | $6M | $3M | $1M | |
| Total Liabilities | $642M | $501M | $483M | $581M | $592M | $669M | $579M | $682M | $580M | $195M | |
| Long-term Debt | $154M | $154M | $153M | $303M | $340M | $380M | $339M | $469M | $346M | $7M | |
| Total Debt | $154M | $154M | $153M | · | $340M | $380M | $339M | $469M | $346M | · | |
| Common Stock | $548.0K | $545.0K | $542.0K | $539.0K | $537.0K | $534.0K | $533.0K | $533.0K | $534.0K | $533.0K | |
| Paid-in Capital | $301M | $290M | $279M | $270M | $256M | $250M | $244M | $240M | $330M | $802M | |
| Retained Earnings | $1.89B | $1.85B | $1.65B | $1.23B | $666M | $526M | $572M | $510M | $82M | $-50M | |
| Treasury Stock | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $38M | $0 | · | |
| Stockholders' Equity | $2.14B | $2.09B | $1.87B | $1.45B | $872M | $725M | $766M | $713M | $413M | $753M | |
| Liabilities + Equity | $2.78B | $2.59B | $2.36B | $2.03B | $1.46B | $1.39B | $1.34B | $1.40B | $993M | $948M | |
| Shares Outstanding | 52,570,156 | 52,311,533 | 52,018,923 | 51,653,568 | 51,437,802 | 51,186,199 | 51,071,608 | 51,622,898 | 53,284,470 | 53,442,532 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $189M | $154M | $127M | $115M | $141M | $118M | $97M | $97M | $75M | · | |
| Stock-based Comp | $20M | $22M | $18M | $18M | $9M | $8M | $6M | $6M | $4M | · | |
| Deferred Tax | $-9M | $-8M | $53M | $142M | $49M | $-20M | $68M | $-223M | $-2M | · | |
| Amort. of Intangibles | $8M | $6M | $2M | $0 | · | · | · | · | · | · | |
| Restructuring | · | · | · | · | · | · | $0 | $0 | $0 | · | |
| Other Non-cash | $-27M | $-51M | $24M | · | $778.0K | $43M | $59M | $-18M | $-98M | · | |
| Operating Cash Flow | $229M | $367M | $701M | $842M | $352M | $113M | $533M | $559M | $435M | · | |
| CapEx | · | · | · | $205M | $58M | $87M | $107M | $102M | $93M | · | |
| Investing Cash Flow | $-405M | $-538M | $-527M | $-255M | $-71M | $-108M | $-134M | $-108M | $-93M | · | |
| Debt Issued | · | · | $0 | $0 | $348M | $0 | $0 | $129M | $345M | · | |
| Net Debt Issued | $0 | $0 | $-162M | · | $-3M | $0 | $-140M | $126M | $342M | · | |
| Stock Repurchased | · | · | · | · | $0 | $0 | $13M | $38M | $0 | · | |
| Net Stock Activity | · | · | · | · | $0 | $0 | $-13M | $-38M | · | · | |
| Dividends Paid | $18M | $44M | $61M | $80M | $10M | $10M | $240M | $361M | $797M | · | |
| Financing Cash Flow | $-15M | $-69M | $-265M | $-153M | $-96M | $14M | $-412M | $-282M | $-458M | · | |
| Net Change in Cash | $-191M | $-239M | $-91M | $434M | $184M | $19M | $-13M | $170M | $-116M | · | |
| Taxes Paid | $9M | $26M | $27M | $0 | $0 | $69.0K | $85.0K | $3.0K | $2M | · | |
| Free Cash Flow | · | · | · | · | $294M | $25M | $426M | $458M | $342M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 3.5% | 16.7% | 32.3% | · | 23.0% | -3.5% | 30.2% | 36.9% | 36.2% | · | |
| Net Margin | 4.3% | 16.4% | 28.5% | · | 14.2% | -4.6% | 23.8% | 50.6% | 38.9% | · | |
| Pretax Margin | 4.2% | 18.6% | 32.9% | · | 18.9% | -7.1% | 28.9% | 34.2% | 35.6% | · | |
| EBITDA Margin | 17.9% | 26.8% | 39.9% | · | 36.4% | 11.6% | 37.9% | 43.9% | 42.7% | · | |
| ROA | 2.1% | 9.7% | 21.8% | · | 10.6% | -2.6% | 22.0% | 58.4% | 46.9% | · | |
| ROE | 2.7% | 12.0% | 26.5% | · | 18.8% | -4.8% | 39.9% | 129.2% | 78.0% | · | |
| ROIC | 2.1% | 10.0% | 23.2% | · | 15.2% | -1.6% | 28.5% | 63.6% | 61.0% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.2 | 5.2 | 7.2 | · | 5.1 | 2.7 | 3.4 | 3.8 | 2.5 | · | |
| Quick Ratio | 1.9 | 3.7 | 5.7 | · | 4.2 | 1.7 | 2.3 | 2.8 | 1.4 | · | |
| Debt / Equity | 0.1 | 0.1 | 0.1 | · | 0.4 | 0.5 | 0.4 | 0.7 | 0.8 | · | |
| LT Debt / Equity | 0.1 | 0.1 | 0.1 | · | 0.4 | 0.5 | 0.4 | 0.7 | 0.8 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.6 | 0.8 | · | 0.7 | 0.6 | 0.9 | 1.2 | 1.2 | · | |
| Inventory Turnover | 4.4 | 5.1 | 5.4 | · | 5.5 | 5.8 | 9.3 | 12.9 | 12.6 | · | |
| Receivables Turnover | 8.1 | 12.8 | 13.4 | · | 10.3 | 8.6 | 10.7 | 10.8 | 12.7 | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -14.1% | -9.0% | -3.6% | 64.1% | 35.3% | · | · | · | · | · | |
| Revenue CAGR 3Y | -9.0% | 12.9% | 28.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.8% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -77.5% | -47.9% | -25.8% | 323.2% | · | · | · | · | · | · | |
| EPS CAGR 3Y | -55.7% | 17.8% | · | · | · | · | · | · | · | · | |
| Net Income YoY | -77.3% | -47.6% | -25.4% | 325.0% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -55.4% | 18.4% | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 11.4% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.31B | $1.53B | $1.68B | $1.74B | $1.06B | $783M | $1.27B | $1.38B | $1.17B | · | |
| Net Income TTM | $57M | $251M | $479M | $641M | $151M | $-36M | $302M | $697M | $455M | · | |
| Market Cap | $4.64B | $2.84B | $3.17B | · | $1.32B | $1.09B | $1.08B | $1.24B | $1.34B | · | |
| Enterprise Value | $4.49B | $2.50B | $2.59B | · | $1.27B | $1.26B | $1.22B | $1.51B | $1.65B | · | |
| P/E | 81.6 | 11.3 | 6.6 | 2.8 | 8.8 | -30.5 | 3.6 | 1.8 | 2.9 | · | |
| P/S | 3.5 | 1.9 | 1.9 | · | 1.2 | 1.4 | 0.9 | 0.9 | 1.1 | · | |
| P/B | 2.2 | 1.4 | 1.7 | · | 1.5 | 1.5 | 1.4 | 1.7 | 3.2 | · | |
| P / Tangible Book | 2.2 | 1.4 | 1.7 | 1.2 | 1.5 | 1.5 | · | · | · | · | |
| P / Cash Flow | 20.2 | 7.7 | 4.5 | · | 3.8 | 9.7 | 2.0 | 2.2 | 3.1 | · | |
| P / FCF | · | · | · | · | 4.5 | 43.4 | 2.5 | 2.7 | 3.9 | · | |
| EV / EBITDA | 19.2 | 6.1 | 3.9 | · | 3.3 | 13.8 | 2.5 | 2.5 | 3.3 | · | |
| EV / FCF | · | · | · | · | 4.3 | 50.1 | 2.9 | 3.3 | 4.8 | · | |
| EV / Revenue | 3.4 | 1.6 | 1.5 | · | 1.2 | 1.6 | 1.0 | 1.1 | 1.4 | · | |
| Dividend Yield | 0.38% | 1.5% | 1.9% | · | 0.79% | 0.95% | 22.3% | 29.0% | 59.5% | · | |
| Earnings Yield | 1.2% | 8.8% | 15.1% | 35.8% | 11.4% | -3.3% | 27.7% | 54.6% | 34.3% | · | |
| Payout Ratio | 31.3% | 17.5% | 12.8% | · | 6.9% | -29.1% | 79.7% | 51.8% | 175.1% | · | |
| Annual Payout | $18M | $44M | $61M | $80M | $10M | $10M | $240M | $361M | $797M | · |
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 | $510M | $459M | $384M | $329M | $298M | $300M | $297M | $328M | $397M | $504M | $364M | $423M | $380M | $510M | $345M | $390M | |
| Cost of Revenue | $340M | $290M | $271M | $240M | $226M | $246M | $229M | $232M | $261M | $286M | $187M | $260M | $230M | $233M | $181M | $203M | |
| SG&A Expense | $10M | $28M | $18M | $17M | $12M | $18M | $17M | $12M | $15M | $19M | $13M | $11M | $13M | $15M | $12M | $11M | |
| Operating Expenses | $415M | $379M | $349M | $308M | $290M | $317M | $302M | $289M | $326M | $354M | $230M | $316M | $289M | $300M | $227M | $266M | |
| Operating Income | $95M | $79M | $35M | $21M | $8M | $-17M | $-4M | $39M | $71M | $149M | $134M | $108M | $90M | $210M | $118M | $124M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $1M | · | · | · | $7M | · | · | |
| Interest Income | $2M | $3M | $4M | $4M | $5M | $5M | $7M | $9M | $9M | $8M | $9M | $11M | $12M | $9M | · | · | |
| Other Non-op | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $-146.0K | $-1M | $0 | $221.0K | $0 | $0 | |
| Pretax Income | $91M | $79M | $36M | $23M | $10M | $-14M | $2M | $46M | $79M | $156M | $141M | $102M | $97M | $211M | $119M | $119M | |
| Income Tax | $4M | $6M | $13M | $-14M | $4M | $-6M | $815.0K | $5M | $9M | $19M | $12M | $17M | $15M | $29M | $20M | $20M | |
| Net Income | $87M | $72M | $23M | $37M | $6M | $-8M | $1M | $42M | $71M | $137M | $129M | $85M | $82M | $182M | $100M | $98M | |
| EPS (Basic) | $1.65 | $1.37 | $0.43 | $0.70 | $0.11 | $-0.16 | $0.01 | $0.80 | $1.35 | $2.63 | $2.47 | $1.64 | $1.58 | $3.52 | $1.92 | $1.91 | |
| EPS (Diluted) | $1.65 | $1.37 | $0.43 | $0.70 | $0.11 | $-0.16 | $0.02 | $0.80 | $1.35 | $2.62 | $2.47 | $1.64 | $1.58 | $3.51 | $1.93 | $1.90 | |
| Shares (Basic) | 52,832,000 | 52,724,000 | -105,086,000 | 52,594,000 | 52,588,000 | 52,464,000 | -104,527,000 | 52,330,000 | 52,321,000 | 52,163,000 | -103,898,000 | 52,019,000 | 52,010,000 | 51,842,000 | -103,210,000 | 51,654,000 | |
| Shares (Diluted) | 52,871,000 | 52,760,000 | -105,127,000 | 52,650,000 | 52,616,000 | 52,464,000 | -104,644,000 | 52,394,000 | 52,378,000 | 52,217,000 | -104,103,000 | 52,111,000 | 52,081,000 | 51,956,000 | -103,403,000 | 51,744,000 | |
| EBITDA | $153M | $132M | · | $64M | $51M | $28M | · | $76M | $109M | $189M | · | $142M | $121M | $247M | · | $155M |
Balance Sheet 22
| 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 | $302M | $203M | $300M | $336M | $383M | $455M | $492M | $583M | $709M | $694M | $738M | $687M | $827M | $863M | $829M | $746M | |
| Receivables | $263M | $296M | $182M | $142M | $167M | $171M | $141M | $153M | $183M | $213M | · | $268M | $208M | $209M | · | $215M | |
| Inventory | $265M | $252M | $236M | $219M | $215M | $198M | $208M | $191M | $174M | $166M | · | $109M | $138M | $129M | · | $144M | |
| Prepaid Expense | $67M | $47M | $49M | $45M | $39M | $38M | $32M | $36M | $35M | $37M | · | $32M | $34M | $34M | · | $28M | |
| Current Assets | $918M | $828M | $820M | $802M | $853M | $896M | $887M | $972M | $1.11B | $1.12B | · | $1.10B | $1.22B | $1.24B | · | $1.14B | |
| Other Non-current Assets | $28M | $28M | $28M | $28M | $27M | $27M | $27M | $32M | $21M | $22M | · | $19M | $19M | $20M | · | $20M | |
| Total Assets | $2.90B | $2.82B | $2.78B | $2.68B | $2.65B | $2.62B | $2.59B | $2.58B | $2.56B | $2.48B | · | $2.22B | $2.24B | $2.15B | $2.03B | $1.94B | |
| Accounts Payable | $79M | $72M | $66M | $46M | $62M | $57M | $40M | $45M | $66M | $43M | · | $44M | $33M | $30M | · | $52M | |
| Accrued Liabilities | $98M | $117M | $132M | $101M | $74M | $72M | $85M | $76M | $72M | $81M | · | $72M | $56M | $63M | · | $79M | |
| Current Liabilities | $234M | $238M | $257M | $194M | $186M | $174M | $170M | $167M | $174M | $163M | · | $144M | $124M | $128M | · | $163M | |
| Deferred Tax | $48M | $52M | $54M | $50M | $61M | $57M | $64M | $71M | $81M | $77M | · | $75M | $61M | $52M | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | $49M | · | · | · | $0 | · | $28M | $28M | $28M | · | $36M | |
| Total Liabilities | $610M | $619M | $642M | $565M | $565M | $547M | $501M | $494M | $512M | $500M | · | $474M | $583M | $573M | · | $588M | |
| Long-term Debt | $155M | $154M | $154M | $154M | $154M | $154M | $154M | $153M | $153M | $153M | · | $153M | $295M | $295M | · | $304M | |
| Total Debt | $155M | $154M | · | $154M | $154M | $154M | · | $153M | $153M | $153M | · | $153M | $295M | $295M | · | $304M | |
| Common Stock | $550.0K | $550.0K | $548.0K | $548.0K | $548.0K | $548.0K | $545.0K | $545.0K | $545.0K | $545.0K | · | $542.0K | $539.0K | $539.0K | · | $539.0K | |
| Paid-in Capital | $299M | $296M | $301M | $296M | $291M | $289M | $290M | $283M | $282M | $277M | · | $275M | $273M | $268M | · | $267M | |
| Retained Earnings | $2.04B | $1.96B | $1.89B | $1.87B | $1.84B | $1.84B | $1.85B | $1.85B | $1.82B | $1.75B | · | $1.52B | $1.44B | $1.36B | · | $1.13B | |
| Treasury Stock | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | $51M | · | $51M | $51M | $51M | · | $51M | |
| Stockholders' Equity | $2.29B | $2.20B | $2.14B | $2.12B | $2.08B | $2.08B | $2.09B | $2.09B | $2.05B | $1.98B | $1.87B | $1.75B | $1.66B | $1.58B | $1.45B | $1.35B | |
| Liabilities + Equity | $2.90B | $2.82B | $2.78B | $2.68B | $2.65B | $2.62B | $2.59B | $2.58B | $2.56B | $2.48B | · | $2.22B | $2.24B | $2.15B | · | $1.94B | |
| Shares Outstanding | 52,801,964 | 52,799,430 | 52,570,156 | 52,570,156 | 52,569,346 | 52,559,285 | 52,311,533 | 52,311,533 | 52,310,724 | 52,297,273 | · | 52,018,114 | 52,018,114 | 51,988,886 | · | 51,653,568 |
Cash Flow 12
| 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 | $58M | $52M | $56M | $44M | $43M | $45M | $39M | $37M | $38M | $40M | $26M | $34M | $31M | $37M | $28M | $31M | |
| Stock-based Comp | $2M | $10M | $5M | $5M | $2M | $8M | $7M | $874.0K | $5M | $9M | $4M | $2M | $5M | $8M | $3M | $3M | |
| Deferred Tax | $-5M | $-2M | $5M | $-11M | $3M | $-7M | $-5M | $-10M | $4M | $3M | $508.0K | $14M | $9M | $29M | $20M | $20M | |
| Other Non-cash | · | $-145M | · | · | · | $-28M | · | · | · | $-85M | · | · | · | $-63M | · | · | |
| Operating Cash Flow | $132M | $-12M | $76M | $105M | $38M | $11M | $54M | $62M | $147M | $104M | $245M | $139M | $125M | $193M | $195M | $247M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | $107M | $136M | $68M | · | $41M | |
| Investing Cash Flow | $-18M | $-57M | $-99M | $-134M | $-94M | $-78M | $-142M | $-172M | $-122M | $-102M | $-182M | $-112M | $-147M | $-85M | $-98M | $-56M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $-8M | · | · | |
| Dividends Paid | $4M | $5M | $4M | $4M | $4M | $5M | $5M | $4M | $4M | $31M | $4M | $4M | $4M | $50M | $3M | $44M | |
| Financing Cash Flow | $-14M | $-28M | $-13M | $-18M | $-15M | $30M | $-4M | $-8M | $-10M | $-47M | $-11M | $-167M | $-12M | $-75M | $-13M | $-90M | |
| Net Change in Cash | $100M | $-97M | $-36M | $-47M | $-72M | $-37M | $-92M | $-118M | $15M | $-44M | $51M | $-141M | $-35M | $33M | $84M | $101M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $125M | · | · |
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 | 18.5% | 17.3% | · | 6.3% | 2.6% | -5.8% | · | 11.9% | 17.9% | 29.6% | · | 25.4% | 23.8% | 41.1% | · | 31.9% | |
| Net Margin | 17.2% | 15.8% | · | 11.1% | 1.9% | -2.7% | · | 12.7% | 17.8% | 27.2% | · | 20.2% | 21.6% | 35.8% | · | 25.2% | |
| Pretax Margin | 17.9% | 17.2% | · | 7.0% | 3.3% | -4.7% | · | 14.1% | 20.0% | 31.0% | · | 24.1% | 25.4% | 41.5% | · | 30.4% | |
| EBITDA Margin | 30.0% | 28.7% | · | 19.6% | 17.1% | 9.3% | · | 23.1% | 27.5% | 37.6% | · | 33.5% | 31.9% | 48.4% | · | 39.8% | |
| ROA | 3.1% | 2.7% | · | 1.4% | 0.22% | -0.32% | · | 1.7% | 2.9% | 5.9% | · | 4.1% | 4.0% | 9.6% | · | 6.0% | |
| ROE | 4.0% | 3.4% | · | 1.7% | 0.27% | -0.40% | · | 2.2% | 3.8% | 7.7% | · | 5.5% | 5.6% | 14.0% | · | 9.4% | |
| ROIC | 3.7% | 3.1% | · | 1.5% | 0.20% | -0.45% | · | 1.6% | 2.9% | 6.1% | · | 4.7% | 3.9% | 9.7% | · | 6.2% |
Liquidity & Solvency 5
| 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 | 3.9 | 3.5 | · | 4.1 | 4.6 | 5.1 | · | 5.8 | 6.4 | 6.9 | · | 7.7 | 9.8 | 9.7 | · | 7.0 | |
| Quick Ratio | 2.4 | 2.1 | · | 2.5 | 3.0 | 3.6 | · | 4.4 | 5.1 | 5.6 | · | 6.6 | 8.3 | 8.4 | · | 5.9 | |
| Debt / Equity | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | 0.2 | |
| LT Debt / Equity | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | 0.2 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 133.0 | · | · | · | · | · | · |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.2 | |
| Inventory Turnover | 1.4 | 1.3 | · | 1.2 | 1.2 | 1.4 | · | 1.5 | 1.7 | 1.9 | · | 2.1 | 1.7 | 1.9 | · | 1.7 | |
| Receivables Turnover | 2.4 | 2.0 | · | 2.2 | 1.7 | 1.6 | · | 1.6 | 2.0 | 2.4 | · | 1.8 | 1.5 | 2.2 | · | 2.7 |
Valuation (TTM) 17
| 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 | $1.59B | $1.38B | · | $1.25B | $1.32B | $1.53B | · | $1.65B | $1.70B | $1.82B | · | $1.70B | $1.90B | $1.90B | · | $1.60B | |
| Net Income TTM | $202M | $106M | · | $76M | $110M | $241M | · | $335M | $375M | $487M | · | $448M | $660M | $724M | · | $580M | |
| Market Cap | $4.29B | $4.92B | · | $3.35B | $2.41B | $2.51B | · | $3.34B | $3.28B | $3.17B | · | $2.66B | $2.03B | $1.91B | · | $1.47B | |
| Enterprise Value | $4.14B | $4.87B | · | $3.16B | $2.18B | $2.21B | · | $2.91B | $2.73B | $2.63B | · | $2.12B | $1.49B | $1.34B | · | $1.03B | |
| P/E | 21.2 | 46.1 | · | 43.9 | 21.8 | 10.4 | · | 10.0 | 8.7 | 6.5 | · | 5.9 | 3.1 | 2.6 | · | 2.5 | |
| P/S | 2.7 | 3.6 | · | 2.7 | 1.8 | 1.6 | · | 2.0 | 1.9 | 1.7 | · | 1.6 | 1.1 | 1.0 | · | 0.9 | |
| P/B | 1.9 | 2.2 | · | 1.6 | 1.2 | 1.2 | · | 1.6 | 1.6 | 1.6 | · | 1.5 | 1.2 | 1.2 | · | 1.1 | |
| P / Tangible Book | 1.9 | 2.2 | · | 1.6 | 1.2 | 1.2 | · | 1.6 | 1.6 | 1.6 | · | 1.5 | 1.2 | 1.2 | · | 1.1 | |
| P / Cash Flow | · | -419.4 | · | · | · | 229.7 | · | · | · | 30.5 | · | · | · | 9.9 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | 15.3 | · | · | |
| EV / EBITDA | 27.1 | 37.0 | · | 49.2 | 42.8 | 79.1 | · | 38.5 | 25.0 | 13.9 | · | 15.0 | 12.3 | 5.4 | · | 6.6 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | 10.7 | · | · | |
| EV / Revenue | 2.6 | 3.5 | · | 2.5 | 1.6 | 1.4 | · | 1.8 | 1.6 | 1.4 | · | 1.2 | 0.8 | 0.7 | · | 0.6 | |
| Dividend Yield | · | · | · | 1.3% | 1.8% | 1.8% | · | 1.3% | 1.3% | 1.3% | · | · | · | · | · | · | |
| Earnings Yield | 4.7% | 2.2% | · | 2.3% | 4.6% | 9.7% | · | 10.0% | 11.5% | 15.4% | · | 16.9% | 32.7% | 38.1% | · | 39.4% | |
| Payout Ratio | · | 6.6% | · | · | · | -63.5% | · | 10.1% | · | 22.4% | · | · | · | 27.4% | · | · | |
| Annual Payout | · | · | · | $44M | $44M | $44M | · | $43M | $42M | $42M | · | · | · | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.31B | $1.53B | — | — | $1.68B |
| Operating Margin % | 3.5% | 16.7% | — | — | 32.3% |
| Net Income | $57M | $251M | — | — | $479M |
| Diluted EPS | $1.08 | $4.79 | — | — | $9.20 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2024-06-30 | 2024-03-31 | 2023-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | — | — | 0.1 |
| Current Ratio | 3.2 | 5.2 | — | — | 7.2 |
| Quick Ratio | 1.9 | 3.7 | — | — | 5.7 |
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Institutional owners (13F) 370 filers · $2.8B 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 |
|---|---|---|---|---|
| 64 (-3 vs prior Q) | 49 (+3 vs prior Q) | 129 (+7 vs prior Q) | 105 (-3 vs prior Q) | +5.4M |
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 |
|---|---|---|---|---|
| STATE STREET CORP | $328,015,526 | 4,041,591 | 11.66% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $267,078,893 | 3,290,770 | 9.49% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $192,952,381 | 2,377,432 | 6.86% | Shares |
| Dalal Street, LLC | $141,547,098 | 1,744,050 | 5.03% | Shares |
| KGH Ltd | $140,554,824 | 2,591,350 | 4.99% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $127,764,507 | 1,574,230 | 4.54% | Shares |
| FMR LLC | $109,229,272 | 1,345,851 | 3.88% | Shares |
| Allianz Asset Management GmbH | $108,741,171 | 1,339,837 | 3.86% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $107,209,125 | 1,320,636 | 3.81% | Shares |
| Boston Partners | $91,508,266 | 1,127,419 | 3.25% | Shares |
| Goehring & Rozencwajg Associates, LLC | $77,186,812 | 951,045 | 2.74% | Shares |
| Capital International Investors | $72,559,556 | 894,031 | 2.58% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $67,499,230 | 831,681 | 2.40% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $64,246,337 | 791,601 | 2.28% | Shares |
| GOLDENTREE ASSET MANAGEMENT LP | $52,828,055 | 652,071 | 1.88% | Shares |
| Hosking Partners LLP | $51,494,397 | 634,480 | 1.83% | Shares |
| AMERICAN CENTURY COMPANIES INC | $36,392,793 | 448,408 | 1.29% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $30,372,588 | 374,231 | 1.08% | Shares |
| JANE STREET GROUP, LLC | $26,920,772 | 331,700 | 0.96% | Put option |
| Summit Street Capital Management, LLC | $25,744,114 | 317,202 | 0.91% | Shares |
| CITADEL ADVISORS LLC | $24,161,332 | 297,700 | 0.86% | Put option |
| O'Keefe Stevens Advisory, Inc. | $23,582,604 | 290,569 | 0.84% | Shares |
| THIRD AVENUE MANAGEMENT LLC | $23,162,902 | 285,398 | 0.82% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $20,620,808 | 254,076 | 0.73% | Shares |
| Maple Rock Capital Partners Inc. | $20,578,848 | 253,559 | 0.73% | Shares |
| Qube Research & Technologies Ltd | $20,362,232 | 250,890 | 0.72% | Shares |
| GOLDMAN SACHS GROUP INC | $18,844,865 | 232,194 | 0.67% | Shares |
| Bank of New York Mellon Corp | $17,613,100 | 217,017 | 0.63% | Shares |
| JANE STREET GROUP, LLC | $16,434,900 | 202,500 | 0.58% | Call option |
| Balyasny Asset Management L.P. | $16,414,935 | 202,254 | 0.58% | Shares |
| JPMORGAN CHASE & CO | $15,920,297 | 197,009 | 0.57% | Shares |
| Public Sector Pension Investment Board | $14,721,531 | 181,389 | 0.52% | Shares |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | $14,371,813 | 177,080 | 0.51% | Shares |
| Mudita Advisors LLP | $14,121,840 | 174,000 | 0.50% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,561,836 | 167,100 | 0.48% | Call option |
| MORGAN STANLEY | $12,993,339 | 160,095 | 0.46% | Shares |
| Ashoka WhiteOak Capital Pte Ltd | $11,394,000 | 141,002 | 0.40% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $11,085,482 | 136,588 | 0.39% | Shares |
| RHUMBLINE ADVISERS | $10,533,805 | 129,791 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $9,593,112 | 118,200 | 0.34% | Call option |
| EXCHANGE TRADED CONCEPTS, LLC | $9,353,609 | 115,249 | 0.33% | Shares |
| Swiss National Bank | $8,602,960 | 106,000 | 0.31% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $8,489,661 | 104,604 | 0.30% | Shares |
| Susquehanna Portfolio Strategies, LLC | $8,104,069 | 99,853 | 0.29% | Shares |
| First Eagle Investment Management, LLC | $7,931,462 | 97,726 | 0.28% | Shares |
| NWF Advisory Services Inc. | $7,576,691 | 93,355 | 0.27% | Shares |
| AMERIPRISE FINANCIAL INC | $7,410,070 | 91,302 | 0.26% | Shares |
| LMR Partners LLP | $6,793,092 | 83,700 | 0.24% | Call option |
| BANK OF AMERICA CORP /DE/ | $6,731,654 | 82,943 | 0.24% | Shares |
| Legal & General Group Plc | $6,570,308 | 80,955 | 0.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,548,476 | 80,686 | 0.23% | Shares |
| Hi-Line Capital Management, LLC | $6,529,809 | 80,456 | 0.23% | Shares |
| Marnell Management LLC | $6,453,113 | 79,511 | 0.23% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $6,452,220 | 79,500 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $6,427,257 | 68,999 | 0.23% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,111,348 | 75,300 | 0.22% | Put option |
| Clearbridge Investments, LLC | $5,848,954 | 72,067 | 0.21% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $5,729,657 | 61,510 | 0.20% | Shares |
| PRUDENTIAL FINANCIAL INC | $5,514,497 | 67,946 | 0.20% | Shares |
| BlackRock, Inc. | $5,423,111 | 66,820 | 0.19% | Shares |
| Skylands Capital, LLC | $5,397,140 | 66,500 | 0.19% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,065,845 | 62,418 | 0.18% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $4,860,429 | 59,887 | 0.17% | Shares |
| Bridgewater Associates, LP | $4,744,857 | 58,463 | 0.17% | Shares |
| MARSHALL WACE, LLP | $4,695,188 | 57,851 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $4,530,270 | 55,819 | 0.16% | Shares |
| Progeny 3, Inc. | $4,401,713 | 54,235 | 0.16% | Shares |
| VAN ECK ASSOCIATES CORP | $4,302,535 | 53,013 | 0.15% | Shares |
| Extract Advisors LLC | $4,296,935 | 52,944 | 0.15% | Shares |
| OSAIC HOLDINGS, INC. | $4,122,230 | 50,791 | 0.15% | Shares |
| ROYCE & ASSOCIATES LP | $3,739,204 | 46,072 | 0.13% | Shares |
| GREAT LAKES ADVISORS, LLC | $3,619,440 | 44,596 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,522,019 | 43,396 | 0.13% | Shares |
| TWO SIGMA INVESTMENTS, LP | $3,436,883 | 42,347 | 0.12% | Shares |
| Kennondale Capital Management LLC | $3,375,639 | 41,592 | 0.12% | Shares |
| AFFINITY WEALTH MANAGEMENT LLC | $3,309,542 | 40,778 | 0.12% | Shares |
| VANGUARD GROUP INC | $3,271,107 | 37,100 | 0.12% | Shares |
| XTX Topco Ltd | $3,239,339 | 39,913 | 0.12% | Shares |
| Jefferies Financial Group Inc. | $3,209,066 | 39,540 | 0.11% | Shares |
| Lifetime Wealth Management P.C. | $3,172,295 | 39,087 | 0.11% | Shares |
| GROUP ONE TRADING LLC | $3,156,637 | 38,894 | 0.11% | Shares |
| Moran Wealth Management, LLC | $3,047,558 | 37,550 | 0.11% | Shares |
| EPACRIA CAPITAL PARTNERS, LLC | $2,831,348 | 34,886 | 0.10% | Shares |
| NFJ INVESTMENT GROUP, LLC | $2,586,082 | 31,864 | 0.09% | Shares |
| WELLS FARGO & COMPANY/MN | $2,569,850 | 31,664 | 0.09% | Shares |
| WOLVERINE TRADING, LLC | $2,547,766 | 40,230 | 0.09% | Shares |
| IMC-Chicago, LLC | $2,540,714 | 31,305 | 0.09% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,533,815 | 31,220 | 0.09% | Shares |
| MetLife Investment Management, LLC | $2,511,740 | 30,948 | 0.09% | Shares |
| Holocene Advisors, LP | $2,264,283 | 27,899 | 0.08% | Shares |
| Illinois Municipal Retirement Fund | $2,242,532 | 27,631 | 0.08% | Shares |
| D. E. Shaw & Co., Inc. | $2,144,410 | 26,422 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $2,101,577 | 22,560 | 0.07% | Shares |
| LPL Financial LLC | $2,092,938 | 25,788 | 0.07% | Shares |
| Squarepoint Ops LLC | $2,070,797 | 25,515 | 0.07% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $2,038,658 | 25,119 | 0.07% | Shares |
| New Age Alpha Advisors, LLC | $2,014,067 | 24,816 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,986,472 | 24,476 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $1,969,563 | 31,100 | 0.07% | Put option |
| KLP KAPITALFORVALTNING AS | $1,939,724 | 23,900 | 0.07% | Shares |
Company insiders 15 insiders · 7 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Walter J Scheller | Chief Executive Officer | Feb. 17, 2023 M | 272,862 | 0 | 0 | $0 |
| Dale W Boyles | Chief Financial Officer | Feb. 17, 2023 M | 115,521 | 0 | 0 | $0 |
| Jack K. Richardson | Chief Operating Officer | Dec. 31, 2023 F | 125,152 | 0 | 0 | $0 |
| Kelli K. Gant | Chief Adminstrative Officer and Corporate Secretary | June 2, 2026 S | 67,775 | 0 | 1 | $-2,200,000 |
| Brian M Chopin | Chief Accounting Officer | Sept. 13, 2023 S | 11,187 | 0 | 0 | $0 |
| Charles Lussier | Chief Commercial Officer | Feb. 17, 2023 M | 41,735 | 0 | 0 | $0 |
| Michael T Madden | Chief Commercial Officer | June 1, 2018 M | 22,222 | 0 | 0 | $0 |
| Stephen D. Williams | Director | Nov. 8, 2023 S | 21,393 | 0 | 0 | $0 |
| Lisa M. Schnorr | Director | Aug. 1, 2023 M | 2,309 | 0 | 0 | $0 |
| Ana B Amicarella | Director | April 27, 2023 M | 19,945 | 0 | 0 | $0 |
| Gareth Turner | Director | Nov. 22, 2021 M | 19,519 | 0 | 0 | $0 |
| FRANKLIN MUTUAL ADVISERS LLC | Director | May 8, 2018 S | 3,166,914 | 0 | 0 | $0 |
| Alan H Schumacher | — | April 23, 2026 M | 42,054 | 0 | 0 | $0 |
| Brett J Harvey | — | April 23, 2026 M | 43,001 | 0 | 0 | $0 |
| Phillip C Monroe | — | March 5, 2019 M | 1,979 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 76 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 |
|---|---|---|---|---|
| COAL · EXCHANGE TRADED CONCEPTS TRUST | 11.18% | 77,596 NS | May 31, 2026 | N-PORT |
| PSCM · Invesco Exchange-Traded Fund Trust … | 4.31% | 10,123 SH | Aug. 8, 2026 | Daily |
| PXI · Invesco Exchange-Traded Fund Trust | 1.62% | 8,940 SH | Aug. 8, 2026 | Daily |
| XSMO · Invesco Exchange-Traded Fund Trust | 1.25% | 421,180 SH | Aug. 8, 2026 | Daily |
| POWR · iShares, Inc. | 0.61% | 31,066 SH | Aug. 8, 2026 | Daily |
| BSJQ · Invesco Exchange-Traded Self-Indexe… | 0.43% | 3,621,000 | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.31% | 20,472 NS | April 30, 2026 | N-PORT |
| FMAT · FIDELITY COVINGTON TRUST | 0.30% | 20,317 NS | April 30, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.30% | 8,350 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.29% | 267,959 SH | Aug. 8, 2026 | Daily |
| PICK · iShares, Inc. | 0.28% | 72,636 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.28% | 83,150 NS | May 31, 2026 | N-PORT |
| VAW · VANGUARD WORLD FUND | 0.28% | 154,927 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.26% | 63,864 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.25% | 417,421 SH | Aug. 8, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.25% | 238,905 NS | May 31, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.23% | 184,629 SH | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.23% | 210,452 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.22% | 630 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.22% | 49,370 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.21% | 1,883 NS | April 30, 2026 | N-PORT |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.20% | 27,025 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.20% | 2,470,246 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.18% | 507,741 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.18% | 223 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.15% | 1,353,795 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.14% | 22,611 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.13% | 305,863 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.12% | 2,455 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.12% | 32,082 NS | April 30, 2026 | N-PORT |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.12% | 130 NS | May 31, 2026 | N-PORT |
| SMIN · iShares Trust | 0.12% | 4,019,906 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.10% | 252,347 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.10% | 162,617 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.10% | 85,577 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.09% | 768,777 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.09% | 19,893 SH | Aug. 8, 2026 | Daily |
| FSCC · Federated Hermes ETF Trust | 0.08% | 2,322 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.07% | 1,919 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.07% | 977 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.07% | 22,158 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.07% | 9,744 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.05% | 79,998 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.05% | 1,940 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 605,363 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 1,211,075 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.04% | 3,111 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.04% | 10,302 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.04% | 6,191 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.04% | 64,739 SH | Aug. 8, 2026 | Daily |