HTLD Heartland Express, Inc. - Common Stock
$12.85
Price · Aug 19, 2026
Fundamentals as of Aug 10, 2026
52W Range
$7–$17
61% of range
Analyst Rating
HOLD
11 analysts
Price Target
$13
+3% upside
P/E (TTM)
-19.2
ROE
-6.8%
Net Profit Margin
-6.5%
HTLD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$12.85
Market Cap
$995M
P/E (TTM)
-19.2
EPS (TTM)
$-0.67
Revenue (TTM)
$806M
Div Yield
0.63%
ROE
-6.8%
Debt/Equity
0.2
52W Range
$7 – $17
HTLD 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
$806M
2017-12-31
→
2025-12-31
EPS
$-0.67
2017-12-31
→
2025-12-31
Free Cash Flow
$-67M
2017-12-31
→
2025-12-31
Margins
-6.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HTLD
Peer Median
P/E (TTM)
-19.2
109.9
P/S (TTM)
1.2
0.6
P/B
1.3
1.3
EV / EBITDA
11.1
—
Price / FCF
-14.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HTLD
Peer Median
Operating Margin
-7.1%
—
Net Profit Margin
-6.5%
-5.8%
ROA
-4.2%
-5.3%
ROE
-6.8%
-12.1%
ROIC
-4.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HTLD
Peer Median
Debt / Equity
0.2
3.9
Current Ratio
1.0
1.4
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HTLD
Peer Median
Revenue YoY
-23.1%
—
Revenue CAGR 3Y
-5.9%
—
Revenue CAGR 5Y
4.5%
—
EPS YoY
-88.8%
—
Net Income YoY
-88.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HTLD
Peer Median
Payout Ratio
-11.8%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
0.63%
Payout Ratio
-11.8%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 23, 2026 | $0.0200 |
| March 24, 2026 | $0.0200 |
| Dec. 26, 2025 | $0.0200 |
| Sept. 23, 2025 | $0.0200 |
| June 23, 2025 | $0.0200 |
| March 25, 2025 | $0.0200 |
| Dec. 27, 2024 | $0.0200 |
| Sept. 27, 2024 | $0.0200 |
| June 25, 2024 | $0.0200 |
| March 25, 2024 | $0.0200 |
| Dec. 4, 2023 | $0.0200 |
| Sept. 22, 2023 | $0.0200 |
| June 23, 2023 | $0.0200 |
| March 27, 2023 | $0.0200 |
| Dec. 8, 2022 | $0.0200 |
| Sept. 26, 2022 | $0.0200 |
| June 24, 2022 | $0.0200 |
| March 24, 2022 | $0.0200 |
| Dec. 6, 2021 | $0.0200 |
| Aug. 31, 2021 | $0.5200 |
HTLD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
11 analysts
- Strong Buy 1 9.1%
- Buy 0 0.0%
- Hold 5 45.5%
- Sell 3 27.3%
- Strong Sell 2 18.2%
12-Month Price Target
5 analysts · 2026-08-16
Median
$13.00
Now
$12.85
Low
$12.00
High
$16.00
Median target
$13.00
+1.2%
Mean target
$13.20
+2.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.14 | $-0.02 | 0.16% |
| March 31, 2026 | $-0.06 | $-0.12 | 0.06% |
| Dec. 31, 2025 | $-0.01 | $-0.08 | 0.07% |
| Sept. 30, 2025 | $-0.11 | $-0.13 | 0.02% |
| June 30, 2025 | $-0.14 | $-0.08 | -0.06% |
| March 31, 2025 | $-0.18 | $-0.10 | -0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HTLD | $699M | -13.5 | -23.1% | -6.5% | -6.8% | — |
| SNDR | — | 45.0 | 7.2% | 1.8% | 3.4% | — |
| RXO | $2.07B | -21.4 | 26.2% | -1.7% | -6.4% | — |
| ARCB | — | 28.3 | -4.0% | 1.5% | 4.6% | — |
| WERN | $1.80B | -125.0 | -1.8% | -0.48% | -1.0% | — |
| MRTN | $928M | 54.2 | -8.3% | 2.0% | 2.3% | — |
| CVLG | — | 81.6 | 2.9% | 0.62% | 1.8% | — |
| ULH | $400M | -4.0 | -15.6% | -6.4% | -16.7% | — |
| PAMT | $253M | -4.9 | -16.3% | -8.8% | -23.1% | — |
| PAL | $268M | — | — | — | -11.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $806M | $1.05B | $1.21B | $968M | $607M | $645M | $597M | $611M | $607M | $613M | $736M | $871M | |
| Operating Expenses | $863M | $1.07B | $1.17B | $780M | $502M | $552M | $503M | $521M | $544M | $527M | $620M | $739M | |
| Operating Income | $-57M | $-20M | $42M | $188M | $105M | $93M | $94M | $90M | $64M | $86M | $117M | $132M | |
| Interest Income | $774.0K | $1M | $2M | $1M | $640.0K | $842.0K | $4M | $2M | $1M | $481.0K | $210.0K | $195.0K | |
| Pretax Income | $-68M | $-37M | $20M | $181M | $106M | $94M | $97M | $92M | $64M | $86M | $117M | $132M | |
| Income Tax | $-16M | $-7M | $5M | $48M | $27M | $23M | $24M | $19M | $-11M | $30M | $44M | $47M | |
| Net Income | $-52M | $-30M | $15M | $134M | $79M | $71M | $73M | $73M | $75M | $56M | $73M | $85M | |
| EPS (Basic) | $-0.67 | $-0.38 | $0.19 | $1.69 | $1.00 | $0.87 | $0.89 | $0.88 | $0.90 | $0.68 | $0.84 | $0.97 | |
| EPS (Diluted) | $-0.67 | $-0.38 | $0.19 | $1.69 | $1.00 | $0.87 | $0.89 | $0.88 | $0.90 | $0.68 | $0.84 | $0.96 | |
| Shares (Basic) | 77,877,000 | 78,733,000 | 79,010,000 | 78,941,000 | 79,573,000 | 81,388,000 | 81,980,000 | 82,378,000 | 83,298,000 | 83,297,000 | 86,974,000 | 87,748,000 | |
| Shares (Diluted) | 77,935,000 | 78,775,000 | 79,079,000 | 78,974,000 | 79,612,000 | 81,444,000 | 82,024,000 | 82,410,000 | 83,336,000 | 83,365,000 | 87,109,000 | 87,923,000 | |
| EBITDA | $102M | $161M | $241M | $321M | $210M | · | $195M | $191M | $167M | $191M | $228M | $241M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $18M | $13M | $28M | $49M | $158M | $114M | $77M | $161M | $75M | $129M | $33M | $17M | |
| Receivables | $74M | $92M | $103M | $140M | $53M | $56M | $57M | $49M | $64M | $47M | $61M | $77M | |
| Other Current Assets | $9M | $13M | $18M | $26M | $9M | $15M | $9M | $13M | $14M | $14M | $8M | $9M | |
| Current Assets | $115M | $129M | $169M | $230M | $233M | $193M | $152M | $233M | $171M | $202M | $136M | $150M | |
| PP&E (Net) | $667M | $764M | $885M | $973M | $488M | $539M | $526M | $403M | $443M | $408M | $474M | $481M | |
| PP&E (Gross) | $1.15B | $1.28B | $1.32B | $1.28B | $711M | $779M | $739M | $604M | $667M | $659M | $672M | $679M | |
| Accum. Depreciation | $481M | $520M | $435M | $309M | $223M | $240M | $213M | $201M | $224M | $251M | $198M | $198M | |
| Goodwill | $323M | $323M | $323M | $321M | $168M | $168M | $168M | $132M | $132M | $100M | $100M | $100M | |
| Intangibles | $70M | $94M | $99M | $104M | $22M | $25M | $27M | $14M | $17M | $12M | $14M | $16M | |
| Other Non-current Assets | $15M | $15M | $15M | $20M | $17M | $18M | $19M | $19M | $24M | $12M | $11M | $13M | |
| Total Assets | $1.19B | $1.33B | $1.51B | $1.67B | $929M | $951M | $899M | $806M | $789M | $738M | $736M | $760M | |
| Accounts Payable | $33M | $35M | $38M | $63M | $21M | $13M | $11M | $11M | $14M | $12M | $8M | $8M | |
| Current Liabilities | $110M | $120M | $123M | $157M | $72M | $71M | $63M | $65M | $75M | $66M | $66M | $68M | |
| Capital Leases | $317.0K | $2M | $8M | $9M | $0 | · | · | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | $94M | $71M | $65M | $95M | $112M | $102M | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | $0 | $12M | $11M | |
| Long-term Debt | $154M | $188M | $280M | $380M | $0 | · | · | $0 | · | · | · | · | |
| Total Debt | $156M | $194M | $292M | $401M | · | · | · | · | · | · | $0 | $25M | |
| Common Stock | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | |
| Retained Earnings | $965M | $1.02B | $1.06B | $1.05B | $924M | $891M | $827M | $760M | $694M | $626M | $576M | $510M | |
| Treasury Stock | $214M | $206M | $200M | $201M | $202M | $172M | $147M | $149M | $124M | $124M | $111M | $38M | |
| Stockholders' Equity | $755M | $823M | $865M | $855M | $727M | $724M | $685M | $616M | $575M | $506M | $470M | $477M | |
| Liabilities + Equity | $1.19B | $1.33B | $1.51B | $1.67B | $929M | $951M | $899M | $806M | $789M | $738M | $736M | $760M | |
| Shares Outstanding | 77,445,000 | 78,519,000 | 79,039,000 | 78,984,000 | 78,923,000 | 80,653,000 | 82,028,000 | 81,930,000 | 83,303,000 | 83,287,000 | 84,115,000 | 87,781,000 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $159M | $182M | $199M | $133M | $104M | $110M | $101M | $101M | $104M | $106M | $112M | $110M | |
| Stock-based Comp | $2M | $1M | $2M | $1M | $1M | $2M | $2M | $500.0K | $500.0K | $1M | $1M | $1M | |
| Deferred Tax | $-25M | $-30M | $-18M | $6M | $-6M | $8M | $4M | $3M | $-27M | $-5M | $8M | $39M | |
| Amort. of Intangibles | $5M | $5M | $5M | $4M | $2M | $2M | $3M | $2M | $3M | $2M | $2M | $2M | |
| Other Non-cash | $6M | $22M | $-32M | $-79M | $-55M | · | $-34M | $-31M | $-43M | $-2M | $-3M | $-62M | |
| Operating Cash Flow | $89M | $144M | $165M | $195M | $123M | $179M | $146M | $147M | $110M | $156M | $190M | $172M | |
| CapEx | $156M | $110M | $209M | $161M | $133M | $204M | $164M | $169M | $184M | $86M | $217M | $205M | |
| Investing Cash Flow | $-26M | $-47M | $-68M | $-663M | $-3M | $-111M | $-133M | $-38M | $-123M | $-29M | $-67M | $-115M | |
| Debt Issued | · | $0 | $0 | $447M | $0 | $0 | · | · | · | · | · | · | |
| Net Debt Issued | · | $0 | $0 | $447M | · | · | · | · | · | · | $0 | $0 | |
| Stock Repurchased | $10M | $7M | $0 | $0 | $32M | $26M | $0 | $25M | $0 | $15M | $74M | $0 | |
| Net Stock Activity | $-10M | $-7M | $0 | $0 | $-32M | · | $0 | $-25M | $0 | $-15M | $-74M | $0 | |
| Dividends Paid | $6M | $6M | $6M | $6M | $46M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | |
| Financing Cash Flow | $-58M | $-113M | $-121M | $359M | $-78M | $-33M | $-100M | $-32M | $-30M | $-21M | $-107M | $-57M | |
| Net Change in Cash | $5M | $-15M | $-23M | $-109M | $43M | $35M | $-87M | $77M | $-44M | $106M | $16M | $-460.0K | |
| Taxes Paid | $9M | $16M | $30M | $44M | $39M | $14M | $19M | $13M | $22M | $36M | $25M | $24M | |
| Free Cash Flow | $-67M | $35M | $-43M | $34M | $-9M | · | $-17M | $-23M | $-75M | $70M | $-27M | $-33M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -7.1% | -1.9% | 3.5% | 19.5% | 17.4% | · | 15.8% | 14.7% | 10.5% | 14.0% | 15.8% | 15.1% | |
| Net Margin | -6.5% | -2.8% | 1.2% | 13.8% | 13.1% | · | 12.2% | 11.9% | 12.4% | 9.2% | 9.9% | 9.7% | |
| Pretax Margin | -8.5% | -3.5% | 1.6% | 18.7% | 17.5% | · | 16.3% | 15.0% | 10.6% | 14.0% | 15.9% | 15.1% | |
| EBITDA Margin | 12.6% | 15.4% | 20.0% | 33.2% | 34.5% | · | 32.7% | 31.3% | 27.6% | 31.2% | 31.0% | 27.7% | |
| ROA | -4.2% | -2.1% | 0.93% | 10.3% | 8.4% | · | 8.6% | 9.1% | 15.9% | 7.6% | 9.8% | 11.4% | |
| ROE | -6.8% | -3.6% | 1.7% | 15.8% | 11.0% | · | 10.8% | 12.0% | 13.9% | 11.6% | 15.4% | 19.4% | |
| ROIC | -4.9% | -1.6% | 2.7% | 11.1% | 10.8% | · | 10.3% | 11.5% | 12.9% | 11.1% | 15.5% | 17.0% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | 1.4 | 1.5 | 3.3 | · | 2.4 | 3.6 | 2.3 | 3.1 | 2.1 | 2.2 | |
| Quick Ratio | 0.8 | 0.9 | 1.1 | 1.2 | 2.9 | · | 2.1 | 3.3 | 1.9 | 2.7 | 1.4 | 1.4 | |
| Debt / Equity | 0.2 | 0.2 | 0.3 | 0.5 | · | · | · | · | · | · | 0.0 | 0.1 | |
| LT Debt / Equity | 0.2 | 0.2 | 0.3 | 0.5 | · | · | · | · | · | · | 0.0 | 0.1 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.8 | 0.7 | 0.6 | · | 0.7 | 0.8 | 1.3 | 0.8 | 1.0 | 1.2 | |
| Receivables Turnover | 9.7 | 10.8 | 10.0 | 10.1 | 11.2 | · | 11.3 | 10.8 | 10.9 | 11.4 | 10.7 | 10.8 |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -23.1% | -13.2% | 24.7% | 59.4% | -5.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -5.9% | 19.9% | 23.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 4.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | -88.8% | 69.0% | 14.9% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | · | -39.8% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | · | -88.9% | 68.5% | 12.0% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | · | -40.7% | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | -0.94% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $806M | $1.05B | $1.21B | $968M | $607M | $645M | $597M | $611M | $607M | $613M | $736M | $871M | |
| Net Income TTM | $-52M | $-30M | $15M | $134M | $79M | $71M | $73M | $73M | $75M | $56M | $73M | $85M | |
| Market Cap | $699M | $881M | $1.13B | $1.21B | $1.33B | · | $1.73B | $1.50B | $1.94B | $1.70B | $1.43B | $2.37B | |
| Enterprise Value | $837M | $1.06B | $1.39B | $1.56B | · | · | · | · | · | · | $1.40B | $2.38B | |
| P/E | -13.5 | -29.5 | 75.1 | 9.1 | 16.8 | 20.8 | 23.7 | 20.8 | 25.9 | 29.9 | 20.3 | 28.1 | |
| P/S | 0.9 | 0.8 | 0.9 | 1.3 | 2.2 | · | 2.9 | 2.5 | 3.2 | 2.8 | 1.9 | 2.7 | |
| P/B | 0.9 | 1.1 | 1.3 | 1.4 | 1.8 | · | 2.5 | 2.4 | 3.4 | 3.4 | 3.0 | 5.0 | |
| P / Tangible Book | 1.9 | 2.2 | 2.5 | 2.8 | 2.5 | 2.7 | · | · | · | · | · | · | |
| P / Cash Flow | 7.8 | 6.1 | 6.8 | 6.2 | 10.8 | · | 11.8 | 10.2 | 17.7 | 10.9 | 7.5 | 13.7 | |
| P / FCF | -10.5 | 25.3 | -26.0 | 35.5 | -143.9 | · | -99.2 | -66.0 | -26.1 | 24.3 | -53.5 | -72.9 | |
| EV / EBITDA | 8.2 | 6.6 | 5.8 | 4.9 | · | · | · | · | · | · | 6.1 | 9.8 | |
| EV / FCF | -12.5 | 30.5 | -32.1 | 45.8 | · | · | · | · | · | · | -52.2 | -73.1 | |
| EV / Revenue | 1.0 | 1.0 | 1.2 | 1.6 | · | · | · | · | · | · | 1.9 | 2.7 | |
| Dividend Yield | 0.89% | 0.72% | 0.56% | 0.52% | 3.5% | · | 0.38% | 0.44% | 0.34% | 0.40% | 0.48% | 0.30% | |
| Earnings Yield | -7.4% | -3.4% | 1.3% | 11.0% | 5.9% | 4.8% | 4.2% | 4.8% | 3.9% | 3.3% | 4.9% | 3.5% | |
| Payout Ratio | -11.8% | -21.2% | 42.6% | 4.7% | 57.9% | · | 9.0% | 9.1% | 8.9% | 11.9% | 9.4% | 8.2% | |
| Annual Payout | $6M | $6M | $6M | $6M | $46M | $6M | $7M | $7M | $7M | $7M | $7M | $7M |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $184M | $176M | $179M | $197M | $210M | $219M | $243M | $260M | $275M | $270M | $275M | $295M | $306M | $331M | $355M | $274M | |
| Operating Expenses | $168M | $180M | $202M | $204M | $223M | $234M | $242M | $267M | $274M | $285M | $265M | $302M | $290M | $308M | $329M | $239M | |
| Operating Income | $17M | $-3M | $-23M | $-7M | $-12M | $-15M | $1M | $-7M | $264.0K | $-14M | $11M | $-7M | $16M | $23M | $26M | $35M | |
| Interest Expense | $2M | $2M | · | $3M | $3M | $3M | · | $4M | $5M | $5M | · | $6M | $6M | $6M | · | $2M | |
| Interest Income | $370.0K | $207.0K | $212.0K | $235.0K | $198.0K | $129.0K | $231.0K | $258.0K | $288.0K | $366.0K | $303.0K | $276.0K | $592.0K | $484.0K | $345.0K | $537.0K | |
| Pretax Income | $15M | $-5M | $-25M | $-10M | $-15M | $-18M | $-2M | $-11M | $-4M | $-19M | $5M | $-13M | $11M | $17M | $20M | $33M | |
| Income Tax | $4M | $-477.0K | $-6M | $-2M | $-4M | $-4M | $-357.0K | $-2M | $-544.0K | $-4M | $-21.0K | $-3M | $3M | $5M | $5M | $9M | |
| Net Income | $11M | $-5M | $-19M | $-8M | $-11M | $-14M | $-2M | $-9M | $-3M | $-15M | $5M | $-11M | $8M | $13M | $15M | $24M | |
| EPS (Basic) | $0.14 | $-0.06 | $-0.24 | $-0.11 | $-0.14 | $-0.18 | $-0.03 | $-0.12 | $-0.04 | $-0.19 | $0.07 | $-0.14 | $0.10 | $0.16 | $0.20 | $0.31 | |
| EPS (Diluted) | $0.14 | $-0.06 | $-0.24 | $-0.11 | $-0.14 | $-0.18 | $-0.03 | $-0.12 | $-0.04 | $-0.19 | $0.07 | $-0.14 | $0.10 | $0.16 | $0.20 | $0.31 | |
| Shares (Basic) | 77,404,000 | 77,457,000 | -156,207,000 | 77,465,000 | 78,079,000 | 78,540,000 | -157,713,000 | 78,489,000 | 78,913,000 | 79,044,000 | -157,997,000 | 79,021,000 | 78,999,000 | 78,987,000 | -157,859,000 | 78,937,000 | |
| Shares (Diluted) | 77,437,000 | 77,489,000 | -156,335,000 | 77,518,000 | 78,142,000 | 78,610,000 | -157,828,000 | 78,500,000 | 78,981,000 | 79,122,000 | -158,127,000 | 79,103,000 | 79,081,000 | 79,022,000 | -157,912,000 | 78,974,000 | |
| EBITDA | $17M | $32M | · | $-7M | $-12M | $27M | · | $-7M | $264.0K | $32M | · | $-7M | $16M | $71M | · | $35M |
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 | $62M | $44M | $18M | $33M | $23M | $24M | $13M | $31M | $24M | $24M | $28M | $20M | $46M | $56M | $49M | $65M | |
| Receivables | $77M | $78M | $74M | $80M | $86M | $95M | $92M | $100M | $109M | $108M | · | $114M | $114M | $126M | · | $163M | |
| Other Current Assets | $36M | $10M | $9M | $14M | $15M | $11M | $13M | $16M | $17M | $14M | · | $21M | $19M | $20M | · | $28M | |
| Current Assets | $186M | $143M | $115M | $138M | $136M | $140M | $129M | $157M | $164M | $160M | · | $182M | $199M | $212M | · | $266M | |
| PP&E (Net) | $571M | $627M | $667M | $689M | $729M | $767M | $764M | $761M | $803M | $841M | · | $926M | $927M | $938M | · | $968M | |
| PP&E (Gross) | $1.00B | $1.11B | $1.15B | $1.20B | $1.26B | $1.30B | $1.28B | $1.30B | $1.32B | $1.32B | · | $1.33B | $1.29B | $1.28B | · | $1.23B | |
| Accum. Depreciation | $432M | $479M | $481M | $507M | $534M | $532M | $520M | $537M | $515M | $475M | · | $404M | $365M | $342M | · | $266M | |
| Goodwill | $323M | $323M | $323M | $323M | $323M | $323M | $323M | $323M | $323M | $323M | · | $323M | $321M | $321M | $321M | $317M | |
| Intangibles | $67M | $68M | $70M | $90M | $91M | $92M | $94M | $95M | $96M | $97M | · | $100M | $101M | $102M | · | $103M | |
| Other Non-current Assets | $15M | $15M | $15M | $15M | $15M | $16M | $15M | $16M | $15M | $15M | · | $32M | $33M | $20M | · | $21M | |
| Total Assets | $1.17B | $1.18B | $1.19B | $1.26B | $1.30B | $1.34B | $1.33B | $1.36B | $1.41B | $1.45B | · | $1.58B | $1.60B | $1.61B | · | $1.70B | |
| Accounts Payable | $34M | $41M | $33M | $41M | $54M | $62M | $35M | $42M | $40M | $36M | · | $60M | $61M | $47M | · | $59M | |
| Current Liabilities | $117M | $113M | $110M | $121M | $144M | $156M | $120M | $135M | $134M | $127M | · | $142M | $148M | $147M | · | $160M | |
| Capital Leases | $8M | $1M | $317.0K | $617.0K | $964.0K | $1M | $2M | $3M | $4M | $6M | · | $4M | $5M | $7M | · | $12M | |
| Long-term Debt | $135M | $150M | $154M | $185M | $194M | $200M | · | $207M | $237M | $264M | · | $344M | $349M | $366M | · | $465M | |
| Total Debt | $135M | $150M | · | $185M | $194M | $200M | · | $207M | $237M | $264M | · | $344M | $349M | $366M | · | $465M | |
| Common Stock | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | $907.0K | · | $907.0K | $907.0K | $907.0K | · | $907.0K | |
| Retained Earnings | $968M | $959M | $965M | $986M | $996M | $1.01B | $1.02B | $1.03B | $1.04B | $1.04B | · | $1.06B | $1.07B | $1.06B | · | $1.04B | |
| Treasury Stock | $215M | $214M | $214M | $215M | $213M | $205M | $206M | $206M | $207M | $200M | · | $201M | $201M | $201M | · | $202M | |
| Stockholders' Equity | $756M | $749M | $755M | $776M | $787M | $808M | $823M | $826M | $837M | $849M | $865M | $861M | $873M | $867M | $855M | $841M | |
| Liabilities + Equity | $1.17B | $1.18B | $1.19B | $1.26B | $1.30B | $1.34B | $1.33B | $1.36B | $1.41B | $1.45B | · | $1.58B | $1.60B | $1.61B | · | $1.70B | |
| Shares Outstanding | 77,328,000 | 77,467,000 | 77,445,000 | 77,413,000 | 77,571,000 | 78,542,000 | 78,519,000 | 78,495,000 | 78,452,000 | 79,051,000 | · | 79,022,000 | 79,013,000 | 78,989,000 | · | 78,938,000 |
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 | $32M | $35M | $37M | $39M | $41M | $42M | $44M | $45M | $46M | $47M | $51M | $51M | $48M | $48M | $51M | $35M | |
| Stock-based Comp | $700.0K | $200.0K | $800.0K | $200.0K | $500.0K | $700.0K | $200.0K | $100.0K | $400.0K | $300.0K | $700.0K | $500.0K | $200.0K | $200.0K | $800.0K | $200.0K | |
| Amort. of Intangibles | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $1M | |
| Other Non-cash | · | $-7M | · | · | · | $-3M | · | · | · | $-720.0K | · | · | · | $5M | · | · | |
| Operating Cash Flow | $13M | $23M | $15M | $28M | $21M | $26M | $38M | $36M | $40M | $31M | $41M | $27M | $31M | $66M | $82M | $54M | |
| CapEx | $47M | $18M | $59M | $40M | $34M | $24M | $83M | $11M | $11M | $5M | $32M | $69M | $66M | $42M | $69M | $41M | |
| Investing Cash Flow | $24M | $15M | $-2M | $-7M | $-6M | $-11M | $-48M | $4M | $-5M | $2M | $14M | $-48M | $-21M | $-13M | $-42M | $-579M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | |
| Stock Repurchased | · | · | $35.0K | $1M | · | · | $0 | $0 | · | · | $0 | $0 | · | · | $0 | $0 | |
| Dividends Paid | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $0 | $3M | $2M | · | · | $3M | $2M | |
| Financing Cash Flow | $-19M | $-12M | $-27M | $-12M | $-16M | $-3M | $-8M | $-32M | $-36M | $-37M | $-47M | $-7M | $-19M | $-47M | $-56M | $418M | |
| Taxes Paid | $2M | $168.0K | $2M | $130.0K | $7M | $-328.0K | $6M | $4M | $6M | $-77.0K | $997.0K | $3M | $26M | $232.0K | $11M | $4M | |
| Free Cash Flow | · | $5M | · | · | · | $2M | · | · | · | $26M | · | · | · | $24M | · | · | |
| Levered FCF | · | $3M | · | · | · | $-125.0K | · | · | · | $22M | · | · | · | $20M | · | · |
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 | 9.0% | -1.9% | · | -3.7% | -5.9% | -6.8% | · | -2.8% | 0.10% | -5.3% | · | -2.5% | 5.3% | 6.9% | · | 12.7% | |
| Net Margin | 5.8% | -2.7% | · | -4.2% | -5.2% | -6.3% | · | -3.6% | -1.3% | -5.6% | · | -3.6% | 2.5% | 3.8% | · | 8.9% | |
| Pretax Margin | 8.2% | -3.0% | · | -5.1% | -7.2% | -8.2% | · | -4.3% | -1.5% | -7.1% | · | -4.5% | 3.5% | 5.2% | · | 12.0% | |
| EBITDA Margin | 9.0% | 18.1% | · | -3.7% | -5.9% | 12.2% | · | -2.8% | 0.10% | 11.9% | · | -2.5% | 5.3% | 21.6% | · | 12.7% | |
| ROA | 0.86% | -0.38% | · | -0.63% | -0.80% | -0.99% | · | -0.63% | -0.23% | -0.99% | · | -0.65% | 0.57% | 0.99% | · | 1.8% | |
| ROE | 1.4% | -0.62% | · | -1.0% | -1.3% | -1.7% | · | -1.1% | -0.41% | -1.8% | · | -1.3% | 0.92% | 1.6% | · | 3.1% | |
| ROIC | 1.3% | -0.33% | · | -0.63% | -0.91% | -1.1% | · | -0.58% | 0.02% | -1.0% | · | -0.50% | 0.96% | 1.4% | · | 2.0% |
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 | 1.6 | 1.3 | · | 1.1 | 0.9 | 0.9 | · | 1.2 | 1.2 | 1.3 | · | 1.3 | 1.3 | 1.4 | · | 1.7 | |
| Quick Ratio | 1.2 | 1.1 | · | 0.9 | 0.8 | 0.8 | · | 1.0 | 1.0 | 1.0 | · | 0.9 | 1.1 | 1.2 | · | 1.4 | |
| Debt / Equity | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.6 | |
| LT Debt / Equity | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.5 | |
| Interest Coverage | 8.8 | -1.5 | · | -2.5 | -4.2 | -4.8 | · | -1.7 | 0.1 | -2.7 | · | -1.2 | 2.7 | 3.8 | · | 14.8 |
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 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.3 | · | 0.2 | |
| Receivables Turnover | 2.3 | 2.0 | · | 2.2 | 2.2 | 2.2 | · | 2.4 | 2.5 | 2.3 | · | 2.1 | 2.9 | 3.5 | · | 2.5 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $767M | $803M | · | $886M | $964M | $1.02B | · | $1.10B | $1.15B | $1.20B | · | $1.21B | $1.10B | $944M | · | $766M | |
| Net Income TTM | $-13M | $-38M | · | $-42M | $-37M | $-42M | · | $-39M | $-22M | $-5M | · | $34M | $122M | $131M | · | $143M | |
| Market Cap | $1.18B | $806M | · | $649M | $670M | $724M | · | $964M | $967M | $944M | · | $1.16B | $1.30B | $1.26B | · | $1.13B | |
| Enterprise Value | $1.25B | $911M | · | $801M | $841M | $900M | · | $1.14B | $1.18B | $1.18B | · | $1.48B | $1.60B | $1.57B | · | $1.53B | |
| P/E | -89.5 | -21.2 | · | -15.2 | -18.0 | -17.4 | · | -25.1 | -45.7 | -170.6 | · | 34.2 | 10.7 | 9.6 | · | 8.0 | |
| P/S | 1.5 | 1.0 | · | 0.7 | 0.7 | 0.7 | · | 0.9 | 0.8 | 0.8 | · | 1.0 | 1.2 | 1.3 | · | 1.5 | |
| P/B | 1.6 | 1.1 | · | 0.8 | 0.9 | 0.9 | · | 1.2 | 1.2 | 1.1 | · | 1.3 | 1.5 | 1.5 | · | 1.3 | |
| P / Tangible Book | 3.2 | 2.2 | · | 1.8 | 1.8 | 1.8 | · | 2.4 | 2.3 | 2.2 | · | 2.6 | 2.9 | 2.8 | · | 2.7 | |
| P / Cash Flow | · | 34.8 | · | · | · | 28.0 | · | · | · | 30.5 | · | · | · | 18.9 | · | · | |
| P / FCF | · | 156.9 | · | · | · | 316.9 | · | · | · | 35.9 | · | · | · | 51.8 | · | · | |
| EV / EBITDA | 75.5 | 28.6 | · | -110.5 | -67.7 | 33.7 | · | -159.7 | 4472.0 | 36.8 | · | -199.6 | 98.5 | 22.0 | · | 44.0 | |
| EV / FCF | · | 177.5 | · | · | · | 393.8 | · | · | · | 45.0 | · | · | · | 64.5 | · | · | |
| EV / Revenue | 1.6 | 1.1 | · | 0.9 | 0.9 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.2 | 1.5 | 1.7 | · | 2.0 | |
| Earnings Yield | -1.1% | -4.7% | · | -6.6% | -5.6% | -5.8% | · | -4.0% | -2.2% | -0.59% | · | 2.9% | 9.4% | 10.4% | · | 12.6% | |
| Payout Ratio | · | -32.1% | · | · | · | -11.3% | · | · | · | · | · | · | · | · | · | · |
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 | $806M | $1.05B | $1.21B | $968M | $607M |
| Operating Margin % | -7.1% | -1.9% | 3.5% | 19.5% | 17.4% |
| Net Income | $-52M | $-30M | $15M | $134M | $79M |
| Diluted EPS | $-0.67 | $-0.38 | $0.19 | $1.69 | $1.00 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | 0.2 | 0.3 | 0.5 | — |
| Current Ratio | 1.0 | 1.1 | 1.4 | 1.5 | 3.3 |
| Quick Ratio | 0.8 | 0.9 | 1.1 | 1.2 | 2.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-67M | $35M | $-43M | $34M | $-9M |
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Institutional owners (13F) 210 filers · $416.6M 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 |
|---|---|---|---|---|
| 50 (+24 vs prior Q) | 18 (-1 vs prior Q) | 53 (-7 vs prior Q) | 48 (+1 vs prior Q) | +5.9M |
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 |
|---|---|---|---|---|
| DIMENSIONAL FUND ADVISORS LP | $58,012,019 | 3,811,565 | 13.93% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $31,465,463 | 2,067,376 | 7.55% | Shares |
| STATE STREET CORP | $30,173,033 | 1,979,911 | 7.24% | Shares |
| AMERICAN CENTURY COMPANIES INC | $26,409,272 | 1,735,169 | 6.34% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $20,920,407 | 1,374,534 | 5.02% | Shares |
| TWO SIGMA INVESTMENTS, LP | $20,877,304 | 1,371,702 | 5.01% | Shares |
| AMERIPRISE FINANCIAL INC | $16,682,333 | 1,096,054 | 4.00% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $15,394,662 | 1,011,220 | 3.70% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $14,816,670 | 973,500 | 3.56% | Shares |
| Wallace Capital Management Inc. | $14,687,406 | 965,007 | 3.53% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $12,471,999 | 819,448 | 2.99% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $8,120,387 | 533,534 | 1.95% | Shares |
| EVR Research LP | $7,305,600 | 480,000 | 1.75% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $7,131,752 | 468,578 | 1.71% | Shares |
| CITADEL ADVISORS LLC | $7,026,815 | 461,683 | 1.69% | Shares |
| DEAN INVESTMENT ASSOCIATES, LLC | $6,980,242 | 458,623 | 1.68% | Shares |
| TWO SIGMA ADVISERS, LP | $6,714,708 | 743,600 | 1.61% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,682,669 | 373,369 | 1.36% | Shares |
| Empowered Funds, LLC | $5,424,682 | 356,418 | 1.30% | Shares |
| Dean Capital Management | $5,063,527 | 332,689 | 1.22% | Shares |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | $5,049,463 | 331,765 | 1.21% | Shares |
| GATE CITY CAPITAL MANAGEMENT, LLC | $4,874,951 | 320,299 | 1.17% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,561,541 | 299,707 | 1.09% | Shares |
| BANK OF AMERICA CORP /DE/ | $4,522,744 | 297,158 | 1.09% | Shares |
| Keeley-Teton Advisors, LLC | $3,369,182 | 365,421 | 0.81% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $3,348,293 | 219,993 | 0.80% | Shares |
| FRANKLIN RESOURCES INC | $3,060,529 | 201,086 | 0.73% | Shares |
| SIB LLC | $2,751,503 | 245,232 | 0.66% | Shares |
| Legato Capital Management LLC | $2,640,426 | 173,484 | 0.63% | Shares |
| Boston Partners | $2,474,220 | 162,564 | 0.59% | Shares |
| Public Sector Pension Investment Board | $2,386,481 | 156,799 | 0.57% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $2,102,171 | 138,119 | 0.50% | Shares |
| Tweedy, Browne Co LLC | $2,102,171 | 138,119 | 0.50% | Shares |
| Bank of New York Mellon Corp | $1,962,299 | 128,929 | 0.47% | Shares |
| Quantinno Capital Management LP | $1,816,872 | 119,374 | 0.44% | Shares |
| Campbell & CO Investment Adviser LLC | $1,752,005 | 115,112 | 0.42% | Shares |
| Lighthouse Investment Partners, LLC | $1,648,493 | 108,311 | 0.40% | Shares |
| RHUMBLINE ADVISERS | $1,635,815 | 107,479 | 0.39% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,557,082 | 102,305 | 0.37% | Shares |
| GOLDMAN SACHS GROUP INC | $1,519,352 | 99,826 | 0.36% | Shares |
| JPMORGAN CHASE & CO | $1,377,424 | 89,096 | 0.33% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,352,662 | 88,874 | 0.32% | Shares |
| Hudson Bay Capital Management LP | $1,328,493 | 87,286 | 0.32% | Shares |
| BlackRock, Inc. | $1,317,184 | 86,543 | 0.32% | Shares |
| Swiss National Bank | $1,301,310 | 85,500 | 0.31% | Shares |
| SummerHaven Investment Management, LLC | $1,205,941 | 79,234 | 0.29% | Shares |
| CAXTON ASSOCIATES LLP | $1,149,323 | 75,514 | 0.28% | Shares |
| Legal & General Group Plc | $1,054,837 | 69,306 | 0.25% | Shares |
| Pullen Investment Management, LLC | $1,053,254 | 69,202 | 0.25% | Shares |
| XTX Topco Ltd | $1,003,211 | 65,914 | 0.24% | Shares |
| BEACON INVESTMENT ADVISORS LLC | $985,524 | 64,751 | 0.24% | Shares |
| PRUDENTIAL FINANCIAL INC | $974,552 | 64,031 | 0.23% | Shares |
| Qube Research & Technologies Ltd | $973,973 | 63,993 | 0.23% | Shares |
| Prescott General Partners LLC | $913,200 | 60,000 | 0.22% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $897,600 | 58,975 | 0.22% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $890,810 | 98,650 | 0.21% | Shares |
| Penn Capital Management Company, LLC | $887,052 | 58,282 | 0.21% | Shares |
| VARCOV Co. | $845,760 | 55,569 | 0.20% | Shares |
| Engineers Gate Manager LP | $750,772 | 49,328 | 0.18% | Shares |
| STRS OHIO | $750,346 | 49,300 | 0.18% | Shares |
| Pacific Ridge Capital Partners, LLC | $616,030 | 40,475 | 0.15% | Shares |
| DEUTSCHE BANK AG\ | $591,921 | 38,891 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $568,620 | 54,675 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $521,041 | 34,234 | 0.13% | Shares |
| Enhancing Capital LLC | $516,719 | 33,950 | 0.12% | Shares |
| CIBC WORLD MARKET INC. | $515,197 | 33,850 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $495,381 | 32,548 | 0.12% | Shares |
| Cherokee Insurance Co | $477,847 | 31,396 | 0.11% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $458,994 | 44,134 | 0.11% | Shares |
| Hills Bank & Trust Co | $456,981 | 30,025 | 0.11% | Shares |
| BARCLAYS PLC | $435,581 | 28,619 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $418,185 | 27,476 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $413,147 | 27,145 | 0.10% | Shares |
| MANGROVE PARTNERS IM, LLC | $402,204 | 26,426 | 0.10% | Shares |
| Amundi | $399,997 | 26,281 | 0.10% | Shares |
| EntryPoint Capital, LLC | $375,340 | 24,661 | 0.09% | Shares |
| FIRST TRUST ADVISORS LP | $363,590 | 23,889 | 0.09% | Shares |
| Illinois Municipal Retirement Fund | $354,443 | 23,288 | 0.09% | Shares |
| MetLife Investment Management, LLC | $353,074 | 23,198 | 0.08% | Shares |
| OpenArc Corporate Advisory, LLC | $334,886 | 22,003 | 0.08% | Shares |
| LPL Financial LLC | $325,769 | 21,404 | 0.08% | Shares |
| Gotham Asset Management, LLC | $311,112 | 20,441 | 0.07% | Shares |
| VANGUARD GROUP INC | $309,133 | 34,234 | 0.07% | Shares |
| Louisiana State Employees Retirement System | $304,400 | 20,000 | 0.07% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $302,589 | 19,881 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $301,356 | 19,800 | 0.07% | Call option |
| WINTON GROUP Ltd | $289,180 | 19,000 | 0.07% | Shares |
| LexAurum Advisors, LLC | $289,180 | 19,000 | 0.07% | Shares |
| JANUS HENDERSON GROUP PLC | $281,351 | 27,027 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $272,377 | 17,896 | 0.07% | Shares |
| MORGAN STANLEY | $272,259 | 17,888 | 0.07% | Shares |
| Autumn Glory Partners, LLC | $268,785 | 17,660 | 0.06% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $264,204 | 17,359 | 0.06% | Shares |
| IEQ CAPITAL, LLC | $249,948 | 16,422 | 0.06% | Shares |
| FARMERS & MERCHANTS INVESTMENTS INC | $246,199 | 16,176 | 0.06% | Shares |
| Invesco Ltd. | $236,808 | 15,559 | 0.06% | Shares |
| Pekin Hardy Strauss, Inc. | $213,080 | 14,000 | 0.05% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $212,648 | 14,368 | 0.05% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $212,578 | 13,967 | 0.05% | Shares |
| Skopos Labs, Inc. | $209,498 | 20,144 | 0.05% | Shares |
Company insiders 16 insiders · 8 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| GERDIN MICHAEL J | Chief Executive Officer | May 19, 2026 G | 8,939,532 | 0 | 0 | $0 |
| GERDIN RUSSELL A | CHIEF EXECUTIVE OFFICER | July 11, 2007 Z | 13,509,359 | 0 | 0 | $0 |
| Christopher Alan Strain | Vice President/CFO/Treasurer | Nov. 11, 2022 F | 20,000 | 0 | 0 | $0 |
| Steven M Gordon | COO of Subsidiary | Nov. 11, 2013 A | 606,717 | 0 | 0 | $0 |
| Dennis J Wilkinson | Vice President of Operations | Sept. 25, 2015 A | 12,000 | 0 | 0 | $0 |
| Thomas E Hill | Vice Pres/Controller/Sec | Dec. 24, 2014 A | 10,000 | 0 | 0 | $0 |
| Scott A. Gordon | CIO of Subsidiary | Nov. 11, 2013 A | 84,796 | 0 | 0 | $0 |
| Richard L Meehan | Exec Vice President | June 3, 2013 J | 30,379 | 0 | 0 | $0 |
| David Paul Millis | Director | June 15, 2026 S | 28,387 | 0 | 1 | $-492,069 |
| David P Spalding | Director | June 10, 2026 P | 2,000 | 1 | 0 | $31,380 |
| Benjamin J Allen | Director | May 11, 2023 A | 3,024 | 0 | 0 | $0 |
| Lawrence D Crouse | Director | Dec. 18, 2015 G | 2,669,951 | 0 | 0 | $0 |
| Larry J. Gordon | Director | Nov. 11, 2013 A | 498,465 | 0 | 0 | $0 |
| Ann S Gerdin | 10% owner | Nov. 30, 2011 G | 0 | 0 | 0 | $0 |
| James G Pratt | — | May 14, 2025 P | 30,000 | 0 | 0 | $0 |
| John P Cosaert | — | Sept. 11, 2017 S | 57,668 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 19 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 |
|---|---|---|---|---|---|
| GERDIN MICHAEL J | May 7, 2025 | 40.70% | Amendment | — | SEC |
| Michael J. Gerdin ×23 filings | Nov. 24, 2023 | — | Initial filing | — | SEC |
| Lawrence D. Crouse | Feb. 5, 2016 | — | Initial filing | — | SEC |
| Lawrence D. Crouse, individually and as trustee of the 2005 Gerdin Children's Trust, 2007 Gerdin Heartland Trust, and 2009 Gerdin Heartland Trust ×2 filings | Dec. 21, 2015 | — | Initial filing | — | SEC |
| Lawrence D. Crouse, individually and as trustee of the 2005 Gerdin Children's Trust, 2007 Gerdin Heartland Trust, and 2009 Gerdin Heartland Trust (as defined below) ×2 filings | Sept. 5, 2014 | — | Initial filing | — | SEC |
| Russell A. Gerdin, individually, Ann S. Gerdin, individually and as trustee of the Ann S. Gerdin Revocable Trust and Russell A. Gerdin Revocable Trust. | Dec. 5, 2011 | — | Initial filing | Passive investment | SEC |
| Russell A. Gerdin, individually and as trustee of the Russell A. Gerdin Revocable Trust and Mrs. Gerdin's GRATS (as defined below), Ann S. Gerdin, individually and as trustee of the Ann S. Gerdin Revocable Trust. ×11 filings | Aug. 24, 2011 | — | Initial filing | Passive investment | SEC |
| Lawrence D. C rouse, individually and as trustee of the 2005 Gerdin Children's Trust and 2009 Gerdin Heartland Trust (as defined below) | Aug. 30, 2010 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | July 29, 2009 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | March 9, 2009 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Jan. 23, 2009 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Jan. 5, 2009 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Dec. 5, 2008 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Oct. 30, 2008 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Aug. 25, 2008 | — | Initial filing | Passive investment | 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 58 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 |
|---|---|---|---|---|
| RZV · Invesco Exchange-Traded Fund Trust | 0.65% | 161,286 SH | Aug. 8, 2026 | Daily |
| COPY · RBB Fund Trust | 0.61% | 140,576 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.40% | 7,654 NS | April 30, 2026 | N-PORT |
| SVAL · iShares Trust | 0.35% | 58,845 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.31% | 20,132 NS | May 31, 2026 | N-PORT |
| PSCI · Invesco Exchange-Traded Fund Trust … | 0.17% | 26,589 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.08% | 18,587 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.08% | 1,369,702 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.07% | 405,432 NS | April 30, 2026 | N-PORT |
| IYT · iShares Trust | 0.07% | 128,447 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.07% | 97,013 SH | Aug. 8, 2026 | Daily |
| TPOR · Direxion Shares ETF Trust | 0.06% | 838 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.06% | 361,657 NS | May 31, 2026 | N-PORT |
| IJS · iShares Trust | 0.06% | 409,889 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 35,084 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.05% | 513,739 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 90,177 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.05% | 4,243 NS | April 30, 2026 | N-PORT |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 159,408 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.04% | 33,844 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.04% | 62,822 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.04% | 5,385 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.03% | 6,891 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 72,559 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.03% | 365,807 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.03% | 2,792,970 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.03% | 546 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 257,630 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 223,539 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 19,053 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 2,063 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 977,650 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 218,243 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 524,412 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.01% | 51,829 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 1,614 NS | May 31, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.01% | 14,852 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 4,031 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 1,632 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 46,744 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 1,846 NS | April 30, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 4,656 NS | May 31, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 1,376 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 580 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 7,569 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 5,091 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 41 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,235 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 16,930 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 17,092 NS | May 31, 2026 | N-PORT |