VAL Valaris Limited Common Shares
$86.94
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$44–$114
61% of range
Analyst Rating
HOLD
18 analysts
Price Target
$69
P/E (TTM)
6.3
ROE
36.4%
Net Profit Margin
41.5%
About Valaris Limited Common Shares Company overview from Wikipedia
Valaris Limited is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world. As of February 2025, it owned 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.
Read more
Valaris Limited (previously ENSCO-Rowan plc) is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world. As of February 2025, it owned 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.
In 2024, the company's largest customer was BP (17% of revenues) and the company's 5 largest customers accounted for 49% of revenues.
## History
In 1975, after the 1973 oil crisis, John R. Blocker bought Choya Energy, a six-rig contract drilling company based in Alice, Texas, and renamed the company Blocker Energy.
In 1980, the company became a public company via an initial public offering.
In 1981 and early 1982, the company borrowed heavily to expand its fleet to 54 rigs.
However, in late 1982, the price of oil plunged and, to avoid bankruptcy, Blocker Energy restructured, giving 64% of the company to its banks in exchange for $240 million in debt forgiveness. By 1983, the company was only operating 6 rigs, although that number increased to 24 in 1984. By 1985, the worldwide employee count of the company was down to 500.
Richard Rainwater's BEC Ventures made an investment in the company in 1986 and chose Carl F. Thorne to run the company, which he did until his retirement 20 years later.
In 1987, the company changed its name to Energy Service Company (Ensco).
In 1990, in a transaction orchestrated by Rainwater, who owned 21% of the company, the company acquired Penrod, previously controlled by Ray Lee Hunt, which added 19 rigs to its fleet.
In 2010, the company moved its headquarters to London and became a UK-registered company.
In May 2011, the company acquired Pride International. The company closed its Dallas office and consolidated it into its Houston office.
In October 2017, the company acquired Atwood Oceanics for $860 million and became the largest owner of jackup fleets worldwide.
In 2019, the company merged with Rowan Companies and changed its name to Valaris plc.
In August 2020, the company filed for a prearranged bankruptcy. It emerged from bankruptcy in May 2021.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
VAL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$86.94
Market Cap
$6.02B
P/E (TTM)
6.3
EPS (TTM)
$13.86
Revenue (TTM)
$2.37B
Div Yield
—
ROE
36.4%
Debt/Equity
0.3
52W Range
$44 – $114
VAL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$2.37B
2017-12-31
→
2025-12-31
EPS
$13.86
2020-12-31
→
2025-12-31
Free Cash Flow
$203M
2017-12-31
→
2025-12-31
Margins
41.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VAL
Peer Median
P/E (TTM)
6.3
5.3
P/S (TTM)
2.5
1.9
P/B
1.9
1.1
EV / EBITDA
13.6
—
Price / FCF
29.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VAL
Peer Median
Operating Margin
20.1%
—
Net Profit Margin
41.5%
6.0%
ROA
20.2%
3.3%
ROE
36.4%
20.1%
ROIC
19.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VAL
Peer Median
Debt / Equity
0.3
—
Current Ratio
1.8
1.9
Quick Ratio
1.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VAL
Peer Median
Revenue YoY
0.27%
—
Revenue CAGR 3Y
13.9%
—
Revenue CAGR 5Y
10.7%
—
EPS YoY
170.7%
—
Net Income YoY
163.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VAL
Peer Median
VAL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
18 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 11 61.1%
- Sell 5 27.8%
- Strong Sell 2 11.1%
12-Month Price Target
8 analysts · 2026-08-19
Median
$70.00
Now
$86.94
Low
$45.00
High
$99.00
Median target
$70.00
-19.5%
Mean target
$69.05
-20.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
2.1%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.72 | $0.42 | 0.30% |
| March 31, 2026 | $-0.24 | $-0.12 | -0.12% |
| Dec. 31, 2025 | $10.26 | $0.63 | 9.6% |
| Sept. 30, 2025 | $2.65 | $1.17 | 1.5% |
| June 30, 2025 | $1.61 | $1.27 | 0.34% |
| March 31, 2025 | $1.93 | $1.24 | 0.69% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VAL | $3.49B | 3.6 | 0.27% | 41.5% | 36.4% | — |
| SDRL | — | -58.6 | 3.8% | -5.4% | -2.7% | — |
| SDRL | — | -58.6 | 3.8% | -5.4% | -2.7% | — |
| NBR | — | 3.1 | 8.7% | 9.0% | 79.0% | — |
| BORR | — | — | — | — | — | — |
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 | $2.37B | $2.36B | $1.78B | $1.60B | · | $1.43B | $2.05B | $1.71B | $1.84B | $2.78B | |
| Cost of Revenue | $1.63B | $1.76B | $1.54B | $1.38B | · | · | $1.81B | $1.32B | $1.19B | · | |
| SG&A Expense | $97M | $116M | $99M | $81M | · | $215M | $189M | $103M | $158M | $101M | |
| Operating Expenses | $1.90B | $2.00B | $1.74B | $1.59B | · | $1.47B | $1.81B | $1.32B | $1.19B | $1.85B | |
| Operating Income | $477M | $352M | $54M | $37M | · | $-4.33B | $-670M | $-236M | $-132M | $929M | |
| Interest Expense | · | · | · | · | · | $291M | $428M | $283M | $224M | $229M | |
| Other Non-op | $103M | $17M | $-2M | $168M | · | $16M | $1.01B | $-35M | $134M | $283M | |
| Pretax Income | $552M | $370M | $84M | $225M | · | $-5.12B | $-64M | $-539M | $-196M | $998M | |
| Income Tax | $-427M | $400.0K | $-783M | $43M | · | $-259M | $128M | $90M | $109M | $108M | |
| Net Income | $983M | $373M | $865M | $176M | · | $-4.86B | $-198M | $-640M | $-304M | $890M | |
| EPS (Basic) | $13.92 | $5.18 | $11.68 | $2.35 | · | $-24.42 | · | · | · | · | |
| EPS (Diluted) | $13.86 | $5.12 | $11.51 | $2.33 | · | $-24.42 | · | · | · | · | |
| Shares (Basic) | 70,600,000 | 72,100,000 | 74,100,000 | 75,100,000 | · | 198,900,000 | · | · | · | · | |
| Shares (Diluted) | 70,900,000 | 72,900,000 | 75,200,000 | 75,600,000 | 199,600,000 | 198,900,000 | · | · | · | · | |
| EBITDA | $477M | $352M | $54M | $37M | · | $-4.32B | $-668M | $-236M | $-132M | $929M |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $599M | $368M | $620M | $724M | $609M | $326M | $97M | $275M | $445M | $1.16B | |
| Short-term Investments | · | · | · | · | $0 | · | $0 | $329M | $440M | $1.44B | |
| Receivables | $475M | $571M | $459M | $449M | $444M | $449M | $521M | $345M | $345M | $361M | |
| Inventory | · | · | · | · | $0 | $279M | $340M | $268M | $279M | $225M | |
| Prepaid Expense | $145M | $127M | $177M | $149M | $23M | $43M | $14M | $15M | $14M | $8M | |
| Other Current Assets | $145M | $139M | $177M | $149M | $118M | $386M | $446M | $361M | $381M | $316M | |
| Current Assets | $1.23B | $1.08B | $1.27B | $1.35B | $1.21B | $1.17B | $1.06B | $1.31B | $1.61B | $3.28B | |
| PP&E (Net) | $2.09B | $1.93B | $1.63B | $977M | $891M | $10.96B | $15.10B | $12.62B | $12.87B | $10.92B | |
| PP&E (Gross) | $2.60B | $2.31B | $1.89B | $1.13B | $957M | $13.21B | $18.39B | $15.52B | $15.33B | $12.99B | |
| Accum. Depreciation | $510M | $376M | $255M | $157M | $66M | $2.25B | $3.30B | $2.90B | $2.46B | $2.07B | |
| Intangibles | · | · | · | · | · | $2M | $12M | $2M | $16M | $300.0K | |
| Other Non-current Assets | $160M | $149M | $154M | $117M | $170M | $176M | $188M | $98M | $140M | $176M | |
| Total Assets | $5.30B | $4.42B | $4.32B | $2.86B | $2.60B | $12.87B | $16.93B | $14.02B | $14.63B | $14.37B | |
| Accounts Payable | $348M | $328M | $400M | $256M | $226M | $176M | $288M | $210M | $433M | $146M | |
| Current Liabilities | $692M | $680M | $744M | $504M | $422M | $427M | $831M | $528M | $758M | $854M | |
| Capital Leases | $37M | $57M | $49M | $14M | $12M | $22M | $52M | $0 | · | · | |
| Deferred Tax | $30M | $30M | $30M | $16M | · | $14M | $99M | $71M | $18M | $5M | |
| Other Non-current Liabilities | $326M | $383M | $472M | $500M | $558M | $762M | $867M | $396M | $387M | $322M | |
| Total Liabilities | $2.13B | $2.18B | $2.33B | $1.56B | · | · | · | · | · | · | |
| Long-term Debt | · | · | · | · | $545M | $0 | $6.05B | $5.01B | $4.75B | $5.39B | |
| Total Debt | $1.09B | $1.08B | $1.08B | $542M | $545M | $0 | $6.05B | $5.01B | $4.75B | $5.27B | |
| Common Stock | · | · | · | · | $800.0K | $0 | · | · | · | · | |
| Paid-in Capital | $1.13B | $1.11B | $1.12B | $1.10B | $1.08B | $8.64B | $8.63B | $7.22B | $7.20B | $6.40B | |
| Retained Earnings | $2.38B | $1.40B | $1.03B | $160M | $-16M | $-4.18B | $672M | $874M | $1.53B | $1.86B | |
| Treasury Stock | $425M | $325M | $200M | $0 | $0 | $76M | $77M | $72M | $69M | $66M | |
| AOCI | $61M | $34M | $25M | $15M | $-9M | $-88M | $6M | $18M | $29M | $19M | |
| Stockholders' Equity | $3.17B | $2.24B | $1.99B | $1.29B | $1.07B | $4.37B | $9.31B | $8.09B | $8.73B | $8.25B | |
| Liabilities + Equity | $5.30B | $4.42B | $4.32B | $2.86B | $2.60B | $12.87B | $16.93B | $14.02B | $14.63B | $14.37B | |
| Shares Outstanding | 69,200,000 | 71,000,000 | 72,400,000 | 75,200,000 | · | · | · | · | · | · |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $25M | $28M | $27M | $17M | · | $21M | $37M | $30M | $34M | $40M | |
| Deferred Tax | $-515M | $6M | $-786M | $8M | · | $-106M | $24M | $57M | $55M | $29M | |
| Operating Cash Flow | $546M | $355M | $268M | $127M | · | $-252M | $-277M | $-56M | $259M | $1.08B | |
| CapEx | $344M | $455M | $696M | $207M | · | $94M | $227M | $427M | $537M | $322M | |
| Investing Cash Flow | $-206M | $-452M | $-666M | $-17M | · | $-42M | $1.05B | $-305M | · | · | |
| Net Debt Issued | $0 | $0 | $-572M | $0 | · | $-10M | $-928M | $-771M | $-537M | $-864M | |
| Stock Repurchased | $100M | $126M | $199M | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $-100M | $-126M | $-199M | · | · | · | · | · | · | · | |
| Dividends Paid | · | · | · | · | · | $0 | $4M | $18M | $14M | $12M | |
| Financing Cash Flow | $-104M | $-158M | $286M | $-6M | · | $522M | $-952M | $188M | $-570M | $529M | |
| Net Change in Cash | $237M | $-255M | $-113M | $104M | · | $229M | $-178M | $-170M | $-714M | $1.04B | |
| Taxes Paid | $62M | $56M | $-8M | $6M | · | $48M | · | · | · | · | |
| Free Cash Flow | $203M | $-100M | $-429M | $-80M | · | $-346M | $-504M | $-482M | $-277M | $755M | |
| Levered FCF | · | · | · | · | · | $-621M | $-1.79B | $-812M | $-626M | $551M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 20.1% | 14.9% | 3.0% | 2.3% | · | -302.9% | -32.5% | -13.8% | · | · | |
| Net Margin | 41.5% | 15.8% | 48.5% | 11.0% | · | -340.2% | -9.6% | -37.5% | · | · | |
| Pretax Margin | 23.3% | 15.7% | 4.7% | 14.0% | · | -358.5% | -3.1% | -31.6% | · | · | |
| EBITDA Margin | 20.1% | 14.9% | 3.0% | 2.3% | · | -302.9% | -32.5% | -13.8% | · | · | |
| ROA | 20.2% | 8.5% | 24.1% | 6.5% | · | -32.6% | -1.3% | -4.5% | -2.1% | 6.4% | |
| ROE | 36.4% | 17.7% | 52.8% | 14.9% | · | -71.0% | -2.3% | -7.6% | -3.6% | 12.1% | |
| ROIC | 19.9% | 10.6% | 18.0% | 1.6% | · | -93.8% | -13.1% | -2.1% | -1.5% | 6.1% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.6 | 1.7 | 2.7 | 2.9 | 2.7 | 1.3 | 2.5 | 2.1 | 3.8 | |
| Quick Ratio | 1.6 | 1.4 | 1.5 | 2.3 | 2.5 | 1.8 | 0.7 | 1.8 | 1.6 | 3.5 | |
| Debt / Equity | 0.3 | 0.5 | 0.5 | 0.4 | 0.5 | 0.0 | 0.6 | 0.6 | 0.5 | 0.6 | |
| LT Debt / Equity | 0.3 | 0.5 | 0.5 | 0.4 | 0.5 | 0.0 | 0.6 | 0.6 | 0.5 | 0.6 | |
| Interest Coverage | · | · | · | · | · | -14.9 | -1.6 | -0.8 | -0.6 | 4.1 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.5 | 0.6 | · | 0.1 | 0.1 | 0.1 | · | · | |
| Inventory Turnover | · | · | · | · | · | · | 5.9 | · | · | · | |
| Receivables Turnover | 4.5 | 4.6 | 3.9 | 3.6 | · | 2.9 | 4.7 | 4.9 | · | · |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.27% | 32.4% | 11.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 13.9% | · | 7.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 10.7% | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 170.7% | -55.5% | 394.0% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 81.2% | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 163.2% | -56.9% | 390.3% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 77.2% | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.37B | $2.36B | $1.78B | $1.60B | · | $1.43B | $2.05B | $1.71B | $1.84B | $2.78B | |
| Net Income TTM | $983M | $373M | $865M | $176M | · | $-4.86B | $-198M | $-640M | $-304M | $890M | |
| Market Cap | $3.49B | $3.14B | $4.96B | · | · | · | · | · | · | · | |
| Enterprise Value | $3.97B | $3.86B | $5.42B | · | · | · | · | · | · | · | |
| P/E | 3.6 | 8.6 | 6.0 | 29.0 | · | · | · | · | · | · | |
| P/S | 1.5 | 1.3 | 2.8 | · | · | · | · | · | · | · | |
| P/B | 1.1 | 1.4 | 2.5 | · | · | · | · | · | · | · | |
| P / Tangible Book | 1.1 | 1.4 | 2.5 | · | · | · | · | · | · | · | |
| P / Cash Flow | 6.4 | 8.8 | 18.6 | · | · | · | · | · | · | · | |
| P / FCF | 17.2 | -31.5 | -11.6 | · | · | · | · | · | · | · | |
| EV / EBITDA | 8.3 | 10.9 | 101.4 | · | · | · | · | · | · | · | |
| EV / FCF | 19.6 | -38.7 | -12.7 | · | · | · | · | · | · | · | |
| EV / Revenue | 1.7 | 1.6 | 3.0 | · | · | · | · | · | · | · | |
| Earnings Yield | 27.5% | 11.6% | 16.8% | 3.5% | · | · | · | · | · | · | |
| Payout Ratio | · | · | · | · | · | 0.00% | -2.3% | -2.8% | -4.5% | 1.3% | |
| Annual Payout | · | · | · | · | · | $0 | $4M | $18M | $14M | $12M |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $539M | $465M | $537M | $596M | $615M | $621M | $584M | $643M | $610M | $525M | $484M | $455M | $415M | $430M | $434M | $437M | |
| Cost of Revenue | $416M | $373M | $413M | $406M | $396M | $415M | $415M | $462M | $439M | $445M | $402M | $391M | $374M | $377M | $353M | $337M | |
| SG&A Expense | $27M | $25M | $27M | $27M | $19M | $24M | $27M | $31M | $32M | $26M | $24M | $24M | $26M | $24M | $24M | $19M | |
| Operating Expenses | $499M | $452M | $500M | $470M | $450M | $480M | $476M | $524M | $501M | $498M | $454M | $441M | $424M | $425M | $401M | $378M | |
| Operating Income | $51M | $20M | $39M | $130M | $164M | $143M | $119M | $95M | $109M | $29M | $38M | $17M | $-10M | $8M | $41M | $62M | |
| Other Non-op | $37M | $-2M | $3M | $88M | $-9M | $21M | $10M | $-3M | $4M | $6M | $-6M | $4M | $-800.0K | $600.0K | $-5M | $14M | |
| Pretax Income | $81M | $10M | $36M | $216M | $146M | $154M | $124M | $87M | $121M | $38M | $38M | $28M | $-3M | $21M | $41M | $92M | |
| Income Tax | $34M | $28M | $-680M | $29M | $32M | $194M | $-7M | $24M | $-30M | $13M | $-790M | $11M | $24M | $-28M | $10M | $14M | |
| Net Income | $50M | $-16M | $718M | $188M | $115M | $-38M | $134M | $65M | $150M | $26M | $835M | $13M | $-29M | $47M | $29M | $74M | |
| EPS (Basic) | $0.73 | $-0.24 | $10.17 | $2.66 | $1.62 | $-0.53 | $1.87 | $0.89 | $2.07 | $0.35 | $11.27 | $0.18 | $-0.39 | $0.62 | $0.38 | $0.99 | |
| EPS (Diluted) | $0.72 | $-0.24 | $10.13 | $2.65 | $1.61 | $-0.53 | $1.86 | $0.88 | $2.03 | $0.35 | $11.12 | $0.17 | $-0.39 | $0.61 | $0.38 | $0.98 | |
| Shares (Basic) | 69,300,000 | 69,200,000 | -142,200,000 | 70,700,000 | 71,100,000 | 71,000,000 | -145,100,000 | 72,400,000 | 72,400,000 | 72,400,000 | -149,600,000 | 73,700,000 | 74,800,000 | 75,200,000 | -150,000,000 | 75,100,000 | |
| Shares (Diluted) | 70,400,000 | 69,200,000 | -142,400,000 | 71,000,000 | 71,300,000 | 71,000,000 | -147,600,000 | 73,200,000 | 73,700,000 | 73,600,000 | -150,800,000 | 74,800,000 | 74,800,000 | 76,400,000 | -150,600,000 | 75,600,000 | |
| EBITDA | $51M | $20M | · | $130M | $164M | $143M | · | $95M | $109M | · | · | · | $-10M | $8M | · | · |
Balance Sheet 25
| 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 | $541M | $578M | $599M | $663M | $503M | $441M | $368M | $379M | $398M | $494M | · | $1.04B | $787M | $822M | · | $406M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $220M | |
| Receivables | $458M | $448M | $475M | $514M | $554M | $558M | $571M | $556M | $632M | $511M | · | $492M | $473M | $393M | · | $536M | |
| Prepaid Expense | $197M | $170M | · | $154M | $157M | $139M | · | $164M | $183M | $178M | · | $179M | $169M | $158M | · | $26M | |
| Other Current Assets | $197M | $170M | $145M | $154M | $157M | $139M | $139M | $164M | $183M | $178M | · | $179M | $169M | $158M | · | $163M | |
| Current Assets | $1.20B | $1.20B | $1.23B | $1.34B | $1.23B | $1.16B | $1.08B | $1.11B | $1.22B | $1.20B | · | $1.73B | $1.45B | $1.40B | · | $1.34B | |
| PP&E (Net) | $2.23B | $2.17B | $2.09B | $2.03B | $2.02B | $1.98B | $1.93B | $1.84B | $1.81B | $1.73B | $1.63B | $1.16B | $1.07B | $1.02B | $977M | $954M | |
| PP&E (Gross) | $2.83B | $2.72B | $2.60B | $2.51B | $2.46B | $2.38B | $2.31B | $2.19B | $2.12B | $2.01B | · | $1.39B | $1.28B | $1.20B | · | $1.09B | |
| Accum. Depreciation | $593M | $551M | $510M | $473M | $440M | $404M | $376M | $343M | $311M | $282M | · | $228M | $202M | $181M | · | $134M | |
| Other Non-current Assets | $174M | $159M | $160M | $152M | $155M | $155M | $149M | $174M | $155M | $154M | · | $205M | $186M | $165M | · | $176M | |
| Total Assets | $5.45B | $5.36B | $5.30B | $4.64B | $4.50B | $4.39B | $4.42B | $4.33B | $4.42B | $4.35B | · | $3.48B | $3.09B | $2.95B | · | $2.82B | |
| Accounts Payable | $416M | $398M | $348M | $327M | $332M | $329M | $328M | $304M | $347M | $394M | · | $376M | $364M | $324M | · | $257M | |
| Current Liabilities | $775M | $778M | $692M | $718M | $679M | $695M | $680M | $692M | $708M | $761M | · | $723M | $659M | $592M | · | $519M | |
| Capital Leases | $47M | $30M | $37M | $44M | $51M | $52M | $57M | $62M | $42M | $50M | · | · | · | · | · | · | |
| Deferred Tax | $32M | $30M | $30M | $27M | $29M | $29M | $30M | $31M | $31M | $32M | · | · | · | · | · | · | |
| Other Non-current Liabilities | $337M | $307M | $326M | $357M | $378M | $368M | $383M | $404M | $408M | $452M | · | $482M | $482M | $465M | · | $540M | |
| Total Liabilities | $2.23B | $2.20B | $2.13B | $2.19B | $2.17B | $2.18B | $2.18B | $2.21B | $2.23B | $2.32B | · | $2.28B | $1.82B | $1.60B | · | · | |
| Total Debt | $1.09B | $1.09B | · | $1.09B | $1.08B | $1.08B | · | $1.08B | $1.08B | · | · | · | $682M | $543M | · | · | |
| Paid-in Capital | $1.15B | $1.14B | $1.13B | $1.13B | $1.12B | $1.12B | $1.11B | $1.11B | $1.13B | $1.13B | · | $1.11B | $1.11B | $1.10B | · | $1.09B | |
| Retained Earnings | $2.42B | $2.37B | $2.38B | $1.66B | $1.48B | $1.36B | $1.40B | $1.27B | $1.20B | $1.05B | · | $190M | $177M | $207M | · | $114M | |
| Treasury Stock | $425M | $425M | $425M | $400M | $325M | $325M | $325M | $300M | $200M | $200M | · | $150M | $65M | · | · | · | |
| AOCI | $64M | $64M | $61M | $38M | $37M | $35M | $34M | $24M | $24M | $25M | · | $14M | $14M | $14M | · | $-9M | |
| Stockholders' Equity | $3.22B | $3.16B | $3.17B | $2.45B | $2.33B | $2.21B | $2.24B | $2.11B | $2.18B | $2.02B | · | $1.18B | $1.25B | $1.34B | · | $1.21B | |
| Liabilities + Equity | $5.45B | $5.36B | $5.30B | $4.64B | $4.50B | $4.39B | $4.42B | $4.33B | $4.42B | $4.35B | · | $3.48B | $3.09B | $2.95B | · | $2.82B | |
| Shares Outstanding | 69,300,000 | 69,300,000 | 69,200,000 | 69,700,000 | 71,100,000 | 71,100,000 | 71,000,000 | 71,400,000 | 72,400,000 | 72,400,000 | · | 73,100,000 | 74,100,000 | · | · | · |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $9M | $6M | $7M | $7M | $6M | $6M | $5M | $7M | $7M | $8M | $8M | $7M | $7M | $6M | $6M | $5M | |
| Deferred Tax | $11M | $10M | $-688M | $-800.0K | $4M | $170M | $-14M | $4M | $14M | $2M | $-789M | $-5M | $2M | $5M | $800.0K | $400.0K | |
| Operating Cash Flow | $13M | $75M | $72M | $198M | $120M | $156M | $125M | $193M | $12M | $26M | $97M | $48M | $-29M | $152M | $155M | $86M | |
| CapEx | $106M | $101M | $106M | $70M | $67M | $100M | $112M | $82M | $110M | $151M | $463M | $106M | $71M | $56M | $54M | $54M | |
| Investing Cash Flow | $-50M | $-96M | $-105M | $39M | $-57M | $-82M | $-109M | $-82M | $-110M | $-151M | $-462M | $-106M | $-42M | $-56M | $170M | $-233M | |
| Debt Issued | · | · | · | · | · | · | · | $0 | · | · | · | $403M | · | · | · | $0 | |
| Stock Repurchased | · | · | $25M | · | · | · | $25M | $100M | · | · | $51M | $83M | · | · | $0 | $0 | |
| Financing Cash Flow | $-100.0K | $-1M | $-26M | $-78M | $-100.0K | $-300.0K | $-27M | $-129M | $-200.0K | $-2M | $-56M | $310M | $32M | $0 | $0 | $-6M | |
| Net Change in Cash | $-37M | $-22M | $-58M | $159M | $62M | $73M | $-12M | $-18M | $-99M | $-127M | $-422M | $252M | $-39M | $96M | $324M | $-153M | |
| Free Cash Flow | · | $-26M | · | · | · | $56M | · | · | · | · | · | · | · | $95M | · | · |
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 | 9.5% | 4.3% | · | 21.9% | 26.7% | 23.0% | · | 14.8% | 17.8% | · | · | · | -2.4% | 2.0% | · | · | |
| Net Margin | 9.3% | -3.5% | · | 31.6% | 18.7% | -6.1% | · | 10.1% | 24.5% | · | · | · | -7.1% | 10.9% | · | · | |
| Pretax Margin | 14.9% | 2.2% | · | 36.2% | 23.7% | 24.9% | · | 13.6% | 19.8% | · | · | · | -0.67% | 4.9% | · | · | |
| EBITDA Margin | 9.5% | 4.3% | · | 21.9% | 26.7% | 23.0% | · | 14.8% | 17.8% | · | · | · | -2.4% | 2.0% | · | · | |
| ROA | 1.0% | -0.34% | · | 4.2% | 2.6% | -0.87% | · | 1.7% | 4.0% | · | · | · | -1.0% | 1.7% | · | · | |
| ROE | 1.8% | -0.61% | · | 8.2% | 5.1% | -1.8% | · | 3.9% | 8.7% | · | · | · | -2.5% | 4.0% | · | · | |
| ROIC | 0.69% | -0.81% | · | 3.2% | 3.8% | -1.1% | · | 2.1% | 4.2% | · | · | · | -5.0% | 1.0% | · | · |
Liquidity & Solvency 4
| 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 | 1.5 | 1.5 | · | 1.9 | 1.8 | 1.7 | · | 1.6 | 1.7 | · | · | · | 2.2 | 2.4 | · | 2.6 | |
| Quick Ratio | 1.3 | 1.3 | · | 1.6 | 1.6 | 1.4 | · | 1.4 | 1.5 | · | · | · | 1.9 | 2.1 | · | · | |
| Debt / Equity | 0.3 | 0.3 | · | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.5 | · | · | · | 0.5 | 0.4 | · | · | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.4 | 0.5 | 0.5 | · | 0.5 | 0.5 | · | · | · | 0.5 | 0.4 | · | · |
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 | · | 0.2 | 0.2 | 0.1 | · | · | 0.1 | 0.2 | · | · | |
| Receivables Turnover | 1.1 | 0.9 | · | 1.1 | 1.0 | 1.2 | · | 1.2 | 1.1 | 1.2 | · | · | 0.8 | 1.0 | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.22B | $2.30B | · | $2.47B | $2.49B | $2.40B | · | $2.23B | $2.01B | $1.83B | · | $1.74B | $1.70B | $1.60B | · | $1.50B | |
| Net Income TTM | $337M | $249M | · | $330M | $291M | $202M | · | $253M | $159M | $56M | · | $104M | $203M | $194M | · | $93M | |
| Market Cap | $5.03B | $6.79B | · | $3.40B | $2.99B | $2.79B | · | $3.98B | $5.39B | $5.45B | · | · | $4.66B | · | · | · | |
| Enterprise Value | $5.58B | $7.30B | · | $3.82B | $3.57B | $3.43B | · | $4.68B | $6.08B | $6.03B | · | · | $4.56B | · | · | · | |
| P/E | 15.3 | 28.1 | · | 10.6 | 10.6 | 14.4 | · | 16.3 | 34.5 | 101.7 | · | 54.7 | 23.5 | 25.4 | · | 40.1 | |
| P/S | 2.3 | 3.0 | · | 1.4 | 1.2 | 1.2 | · | 1.8 | 2.7 | 3.0 | · | · | 2.7 | · | · | · | |
| P/B | 1.6 | 2.1 | · | 1.4 | 1.3 | 1.3 | · | 1.9 | 2.5 | 2.7 | · | · | 3.7 | · | · | · | |
| P / Tangible Book | 1.6 | 2.1 | · | 1.4 | 1.3 | 1.3 | · | 1.9 | 2.5 | 2.7 | · | 4.6 | 3.7 | · | · | · | |
| P / Cash Flow | · | 90.6 | · | · | · | 17.9 | · | · | · | 207.2 | · | · | · | · | · | · | |
| P / FCF | · | -262.3 | · | · | · | 50.1 | · | · | · | -43.6 | · | · | · | · | · | · | |
| EV / EBITDA | 109.2 | 365.1 | · | 29.3 | 21.8 | 24.0 | · | 49.3 | 55.8 | 206.0 | · | · | -460.4 | · | · | · | |
| EV / FCF | · | -282.0 | · | · | · | 61.6 | · | · | · | -48.3 | · | · | · | · | · | · | |
| EV / Revenue | 2.5 | 3.2 | · | 1.5 | 1.4 | 1.4 | · | 2.1 | 3.0 | 3.3 | · | · | 2.7 | · | · | · | |
| Earnings Yield | 6.5% | 3.6% | · | 9.4% | 9.5% | 7.0% | · | 6.2% | 2.9% | 0.98% | · | 1.8% | 4.3% | 3.9% | · | 2.5% |
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 | $2.37B | $2.36B | $1.78B | $1.60B | — |
| Operating Margin % | 20.1% | 14.9% | 3.0% | 2.3% | — |
| Net Income | $983M | $373M | $865M | $176M | — |
| Diluted EPS | $13.86 | $5.12 | $11.51 | $2.33 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.5 | 0.5 | 0.4 | 0.5 |
| Current Ratio | 1.8 | 1.6 | 1.7 | 2.7 | 2.9 |
| Quick Ratio | 1.6 | 1.4 | 1.5 | 2.3 | 2.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $203M | $-100M | $-429M | $-80M | — |
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Institutional owners (13F) 391 filers · $3.7B 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 |
|---|---|---|---|---|
| 54 (-44 vs prior Q) | 60 (-7 vs prior Q) | 103 (-4 vs prior Q) | 132 (+15 vs prior Q) | +7.0M |
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 |
|---|---|---|---|---|
| OAK HILL ADVISORS LP | $283,559,773 | 3,905,782 | 7.68% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $234,780,704 | 3,233,895 | 6.36% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $210,868,007 | 2,904,518 | 5.71% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $189,071,309 | 2,604,288 | 5.12% | Shares |
| STATE STREET CORP | $183,070,483 | 2,521,632 | 4.96% | Shares |
| Lingotto Investment Management LLP | $175,074,392 | 2,411,493 | 4.74% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $139,108,148 | 1,749,641 | 3.77% | Shares |
| GOLDMAN SACHS GROUP INC | $129,707,087 | 1,786,599 | 3.51% | Shares |
| AMERICAN CENTURY COMPANIES INC | $116,716,552 | 1,607,666 | 3.16% | Shares |
| HBK INVESTMENTS L P | $114,355,382 | 1,575,143 | 3.10% | Shares |
| Goehring & Rozencwajg Associates, LLC | $102,623,149 | 1,413,542 | 2.78% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $91,572,195 | 1,261,325 | 2.48% | Shares |
| Condire Management, LP | $77,464,926 | 1,067,010 | 2.10% | Shares |
| MILLENNIUM MANAGEMENT LLC | $77,233,985 | 1,063,829 | 2.09% | Shares |
| AQR Arbitrage LLC | $76,201,468 | 1,049,607 | 2.06% | Shares |
| ANTIPODES PARTNERS Ltd | $72,342,270 | 996,450 | 1.96% | Shares |
| WHITEBOX ADVISORS LLC | $61,760,530 | 850,696 | 1.67% | Shares |
| VAN ECK ASSOCIATES CORP | $61,662,302 | 849,343 | 1.67% | Shares |
| CITIGROUP INC | $57,075,434 | 786,163 | 1.55% | Shares |
| NORGES BANK | $51,325,369 | 706,961 | 1.39% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $47,546,974 | 654,917 | 1.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $47,407,800 | 653,000 | 1.28% | Call option |
| W1M Investment Management Ltd | $46,995,530 | 963,912 | 1.27% | Shares |
| KGH Ltd | $46,098,080 | 1,042,000 | 1.25% | Shares |
| THIRD AVENUE MANAGEMENT LLC | $37,484,324 | 516,313 | 1.02% | Shares |
| CITADEL ADVISORS LLC | $37,467,481 | 516,081 | 1.02% | Shares |
| Capula Management Ltd | $37,091,195 | 510,898 | 1.00% | Shares |
| ALPINE ASSOCIATES MANAGEMENT INC. | $34,147,337 | 470,349 | 0.93% | Shares |
| Verition Fund Management LLC | $33,319,697 | 458,949 | 0.90% | Shares |
| Balyasny Asset Management L.P. | $33,139,069 | 456,461 | 0.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $30,768,533 | 423,809 | 0.83% | Shares |
| D. E. Shaw & Co., Inc. | $25,184,432 | 346,893 | 0.68% | Shares |
| BANK OF AMERICA CORP /DE/ | $24,565,517 | 338,368 | 0.67% | Shares |
| Man Group plc | $23,931,864 | 329,640 | 0.65% | Shares |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $23,595,000 | 325,000 | 0.64% | Shares |
| Bridgewater Associates, LP | $23,356,364 | 321,713 | 0.63% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $21,293,580 | 293,300 | 0.58% | Put option |
| JANE STREET GROUP, LLC | $20,727,300 | 285,500 | 0.56% | Call option |
| Hosking Partners LLP | $18,524,616 | 255,160 | 0.50% | Shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | $17,424,000 | 240,000 | 0.47% | Shares |
| Squarepoint Ops LLC | $17,311,107 | 238,445 | 0.47% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $16,683,480 | 229,800 | 0.45% | Put option |
| TUDOR INVESTMENT CORP ET AL | $16,305,960 | 224,600 | 0.44% | Call option |
| CITADEL ADVISORS LLC | $14,556,300 | 200,500 | 0.39% | Call option |
| VALUEWORKS LLC | $14,155,766 | 194,983 | 0.38% | Shares |
| RHUMBLINE ADVISERS | $13,896,636 | 191,414 | 0.38% | Shares |
| NOMURA HOLDINGS INC | $13,721,400 | 189,000 | 0.37% | Call option |
| TUDOR INVESTMENT CORP ET AL | $12,480,448 | 171,907 | 0.34% | Shares |
| Woodline Partners LP | $11,304,110 | 155,704 | 0.31% | Shares |
| PEAK6 LLC | $11,136,114 | 153,390 | 0.30% | Shares |
| Magnetar Financial LLC | $10,995,851 | 151,458 | 0.30% | Shares |
| ALLIANCEBERNSTEIN L.P. | $10,899,107 | 111,170 | 0.30% | Shares |
| WOLVERINE TRADING, LLC | $10,893,294 | 220,200 | 0.30% | Put option |
| CITADEL ADVISORS LLC | $10,360,020 | 142,700 | 0.28% | Put option |
| California Public Employees Retirement System | $9,953,315 | 137,098 | 0.27% | Shares |
| Brandywine Global Investment Management, LLC | $8,806,090 | 174,724 | 0.24% | Shares |
| Public Sector Pension Investment Board | $8,620,524 | 118,740 | 0.23% | Shares |
| Hara Capital LLC | $8,568,833 | 118,028 | 0.23% | Shares |
| UBS Group AG | $8,349,000 | 115,000 | 0.23% | Call option |
| TUDOR INVESTMENT CORP ET AL | $8,167,500 | 112,500 | 0.22% | Put option |
| Swiss National Bank | $8,065,860 | 111,100 | 0.22% | Shares |
| Glenorchy Capital Ltd | $8,022,300 | 110,500 | 0.22% | Call option |
| MUFG Securities EMEA plc | $7,865,484 | 108,340 | 0.21% | Shares |
| Stanley-Laman Group, Ltd. | $7,619,080 | 104,946 | 0.21% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $7,272,705 | 74,181 | 0.20% | Shares |
| Kintayl Capital LP | $7,000,237 | 96,422 | 0.19% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $6,693,575 | 92,198 | 0.18% | Shares |
| De Lisle Partners LLP | $6,632,188 | 91,321 | 0.18% | Shares |
| WOLVERINE TRADING, LLC | $5,911,665 | 119,500 | 0.16% | Call option |
| Alberta Investment Management Corp | $5,821,141 | 80,181 | 0.16% | Shares |
| BlackRock, Inc. | $5,564,354 | 76,644 | 0.15% | Shares |
| JANUS HENDERSON GROUP PLC | $5,481,489 | 55,868 | 0.15% | Shares |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | $5,459,012 | 75,193 | 0.15% | Shares |
| Polar Asset Management Partners Inc. | $5,186,108 | 71,434 | 0.14% | Shares |
| FMR LLC | $5,083,234 | 70,017 | 0.14% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,893,240 | 67,400 | 0.13% | Shares |
| Retirement Systems of Alabama | $4,836,031 | 66,612 | 0.13% | Shares |
| MetLife Investment Management, LLC | $4,604,437 | 63,422 | 0.12% | Shares |
| AMERIPRISE FINANCIAL INC | $4,524,868 | 62,326 | 0.12% | Shares |
| Sagefield Capital LP | $4,416,621 | 60,835 | 0.12% | Shares |
| Walleye Trading LLC | $4,290,660 | 59,100 | 0.12% | Call option |
| Centiva Capital, LP | $4,284,997 | 59,022 | 0.12% | Shares |
| D. E. Shaw & Co., Inc. | $3,934,920 | 54,200 | 0.11% | Call option |
| Y-Intercept (Hong Kong) Ltd | $3,915,826 | 53,937 | 0.11% | Shares |
| Westchester Capital Management, LLC | $3,883,156 | 53,487 | 0.11% | Shares |
| CIBRA Capital Ltd | $3,803,070 | 38,791 | 0.10% | Shares |
| WELLS FARGO & COMPANY/MN | $3,756,687 | 51,745 | 0.10% | Shares |
| Point72 Asset Management, L.P. | $3,745,797 | 51,595 | 0.10% | Shares |
| Soviero Asset Management, LP | $3,702,600 | 51,000 | 0.10% | Shares |
| PLATINUM INVESTMENT MANAGEMENT LTD | $3,336,406 | 45,956 | 0.09% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,295,241 | 45,389 | 0.09% | Shares |
| ExodusPoint Capital Management, LP | $3,275,785 | 45,121 | 0.09% | Shares |
| Aquatic Capital Management LLC | $2,987,272 | 41,147 | 0.08% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,923,094 | 40,263 | 0.08% | Shares |
| HUB Investment Partners, LLC | $2,913,002 | 40,124 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $2,867,700 | 39,500 | 0.08% | Put option |
| Legal & General Group Plc | $2,672,188 | 36,807 | 0.07% | Shares |
| Mraz, Amerine & Associates, Inc. | $2,643,874 | 36,417 | 0.07% | Shares |
| Gotham Asset Management, LLC | $2,561,038 | 35,276 | 0.07% | Shares |
| Tejara Capital Ltd | $2,337,720 | 32,200 | 0.06% | Shares |
Company insiders 67 insiders · 29 officers · 32 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Anton Dibowitz | President & CEO | April 7, 2026 F | 254,607 | 0 | 0 | $0 |
| Thomas Peter Burke | President and CEO | July 19, 2021 A | 115,047 | 0 | 0 | $0 |
| Christopher T Weber | SVP - CFO | April 7, 2026 F | 62,433 | 0 | 0 | $0 |
| Darin Gibbins | Interim CFO and VP | July 19, 2022 F | 19,495 | 0 | 0 | $0 |
| Jonathan Baksht | Executive Vice President & CFO | July 19, 2021 A | 43,695 | 0 | 0 | $0 |
| Gilles Luca | SVP - COO | April 7, 2026 F | 83,551 | 0 | 1 | $-1,709,400 |
| Patrick Carey Lowe | EVP & Chief Operating Officer | May 2, 2019 F | 133,098 | 0 | 0 | $0 |
| John Mark Burns | Executive Vice President & COO | Sept. 4, 2015 F | 172,803 | 0 | 0 | $0 |
| Melissa Barron | Controller | July 3, 2026 F | 17,742 | 0 | 0 | $0 |
| Matthew Lyne | SVP - CCO | April 7, 2026 F | 33,652 | 0 | 0 | $0 |
| Davor Vudakin | SVP & General Counsel | April 7, 2026 F | 19,707 | 0 | 0 | $0 |
| Colleen Grable | VP - Controller | Aug. 9, 2023 S | 15,074 | 0 | 0 | $0 |
| Alan Quintero | SVP-Business Development | July 19, 2021 A | 29,424 | 0 | 0 | $0 |
| Michael Mcguinty | SVP-General Counsel/Secretary | April 30, 2021 J | 0 | 0 | 0 | $0 |
| Tommy Darby | Vice President - Finance | May 17, 2020 D | 3,730 | 0 | 0 | $0 |
| Carl Trowell | Executive Chairman | March 6, 2020 F | 225,402 | 0 | 0 | $0 |
| Steven Joseph Brady | Sr. VP - Eastern Hemisphere | March 6, 2019 F | 304,729 | 0 | 0 | $0 |
| John Stokes Knowlton | Sr. Vice President - Technical | March 6, 2019 F | 289,516 | 0 | 0 | $0 |
| Robert W Edwards III | Vice President - Finance | June 1, 2017 M | 28,532 | 0 | 0 | $0 |
| David Ethan Hensel | Sr. Vice President - Marketing | Nov. 8, 2015 F | 71,670 | 0 | 0 | $0 |
| Brady K Long | VP - General Counsel/Secretary | Feb. 23, 2015 A | 50,738 | 0 | 0 | $0 |
| Kevin C Robert | Sr. Vice President - Marketing | Jan. 10, 2014 | — | 0 | 0 | $0 |
| Cary A Moomjian JR | Vice President and Secretary | March 24, 2011 S | 51,003 | 0 | 0 | $0 |
| David A Armour | Vice President - Finance | March 1, 2011 A | 34,507 | 0 | 0 | $0 |
| Herman E Malone JR | Vice President | Feb. 7, 2011 A | 43,356 | 0 | 0 | $0 |
| Phillip J Saile | Senior Vice President | July 31, 2009 I | 5,379 | 0 | 0 | $0 |
| Richard A Leblanc | Vice President | June 1, 2009 F | 6,301 | 0 | 0 | $0 |
| Robert O Isaac | Assistant Secretary | March 23, 2007 M | 17,617 | 0 | 0 | $0 |
| Jon C Cole | Senior Vice President | Aug. 17, 2004 A | — | 0 | 0 | $0 |
| Kristian Johansen | Director | June 10, 2026 M | 9,548 | 0 | 0 | $0 |
| Catherine Hughes | Director | June 10, 2026 F | 15,448 | 0 | 0 | $0 |
| Joseph Goldschmid | Director | June 10, 2026 A | 38,560 | 0 | 0 | $0 |
| Elizabeth Leykum | Director | June 10, 2026 A | 43,019 | 0 | 0 | $0 |
| Dick Fagerstal | Director | June 10, 2026 A | 28,017 | 0 | 0 | $0 |
| Deepak Munganahalli | Director | June 15, 2024 F | 27,739 | 0 | 0 | $0 |
| Gunnar W. Eliassen | Director | June 9, 2022 A | 9,068 | 0 | 0 | $0 |
| Georges J. Lambert | Director | April 30, 2021 J | — | 0 | 0 | $0 |
| Mary Francis | Director | April 30, 2021 J | 15,386 | 0 | 0 | $0 |
| William E Albrecht | Director | April 30, 2021 J | 0 | 0 | 0 | $0 |
| Thierry Pilenko | Director | April 30, 2021 J | 687 | 0 | 0 | $0 |
| Charles L Szews | Director | April 30, 2021 J | 38,751 | 0 | 0 | $0 |
| Paul E Rowsey III | Director | April 30, 2021 J | 57,426 | 0 | 0 | $0 |
| Adam Weitzman | Director | Aug. 28, 2020 S | 12,750,000 | 0 | 0 | $0 |
| Keith O Rattie | Director | June 15, 2020 D | 42,880 | 0 | 0 | $0 |
| Christopher C Gaut | Director | Nov. 12, 2019 M | 47,411 | 0 | 0 | $0 |
| James Roderick Clark | Director | Nov. 12, 2019 M | 46,185 | 0 | 0 | $0 |
| Jack E Golden | Director | April 11, 2019 M | 28,768 | 0 | 0 | $0 |
| Roxanne J Decyk | Director | April 11, 2019 M | 18,193 | 0 | 0 | $0 |
| WEDEMEYER PHIL D | Director | April 11, 2019 M | 26,620 | 0 | 0 | $0 |
| Francis S Kalman | Director | April 11, 2019 M | 28,630 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 6 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 |
|---|---|---|---|---|---|
| OAK HILL ADVISORS LP ×3 filings | Aug. 12, 2026 | 4.38% | Amendment | — | SEC |
| Famatown Finance Limited, Greenwich Holdings Limited, C.K. Limited ×8 filings | Feb. 11, 2026 | 11.23% | Amendment | — | SEC |
| Oak Hill Advisors, L.P. ×2 filings | Aug. 9, 2023 | — | Initial filing | — | SEC |
| Luminus Management, LLC, Luminus Energy Partners Master Fund, Ltd., Jonathan Barrett ×9 filings | Sept. 15, 2020 | — | Initial filing | — | SEC |
| Undisclosed reporting person | May 21, 2002 | — | Initial filing | M&A / sale | SEC |
| Richard E. Rainwater, Rainwater, Inc. | July 27, 2001 | — | Initial filing | — | 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 84 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 |
|---|---|---|---|---|
| EZA · iShares, Inc. | 4.69% | 307,100 SH | Aug. 8, 2026 | Daily |
| IEZ · iShares Trust | 2.68% | 127,379 SH | Aug. 8, 2026 | Daily |
| RFG · Invesco Exchange-Traded Fund Trust | 1.60% | 72,658 SH | Aug. 8, 2026 | Daily |
| GRPM · Invesco Exchange-Traded Fund Trust | 1.53% | 98,646 SH | Aug. 8, 2026 | Daily |
| PICK · iShares, Inc. | 1.36% | 366,121 SH | Aug. 8, 2026 | Daily |
| EEMO · Invesco Exchange-Traded Fund Trust … | 0.66% | 1,838 SH | Aug. 8, 2026 | Daily |
| PXH · Invesco Exchange-Traded Fund Trust … | 0.64% | 139,830 SH | Aug. 8, 2026 | Daily |
| LDEM · iShares Trust | 0.48% | 1,883 SH | Aug. 8, 2026 | Daily |
| OASC · Unified Series Trust | 0.48% | 4,358 NS | May 31, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.47% | 1,381,193 NS | May 31, 2026 | N-PORT |
| ESGE · iShares, Inc. | 0.45% | 355,827 SH | Aug. 8, 2026 | Daily |
| EMXF · iShares Trust | 0.40% | 7,704 SH | Aug. 8, 2026 | Daily |
| VGHY · VANGUARD FIXED INCOME SECURITIES FU… | 0.33% | 975,000 PA | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.33% | 241,354 NS | April 30, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.30% | 396,532 NS | April 30, 2026 | N-PORT |
| SVAL · iShares Trust | 0.29% | 7,725 SH | Aug. 8, 2026 | Daily |
| IJK · iShares Trust | 0.27% | 376,403 SH | Aug. 8, 2026 | Daily |
| CCNR · Financial Investors Trust | 0.25% | 9,497 NS | April 30, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.24% | 63,549 SH | Aug. 8, 2026 | Daily |
| EMXC · iShares, Inc. | 0.24% | 670,759 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.24% | 444,636 SH | Aug. 8, 2026 | Daily |
| VDE · VANGUARD WORLD FUND | 0.23% | 343,464 SH | Aug. 8, 2026 | Daily |
| BFOR · ALPS ETF Trust | 0.23% | 5,280 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.22% | 41,534 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.19% | 27,001 NS | April 30, 2026 | N-PORT |
| EEM · iShares, Inc. | 0.19% | 658,428 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.18% | 67,515 SH | Aug. 8, 2026 | Daily |
| IEMG · iShares, Inc. | 0.16% | 2,989,179 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.16% | 226,439 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.16% | 8,889 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.16% | 8,668 SH | Aug. 8, 2026 | Daily |
| VGMS · VANGUARD MALVERN FUNDS | 0.15% | 345,000 PA | Aug. 8, 2026 | Daily |
| AVIE · AMERICAN CENTURY ETF TRUST | 0.15% | 162 NS | May 31, 2026 | N-PORT |
| VWO · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.14% | 3,667,320 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.14% | 1,459,187 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.14% | 17,864 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.14% | 2,222,185 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.13% | 40,198 NS | May 31, 2026 | N-PORT |
| IGE · iShares Trust | 0.13% | 12,791 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.13% | 103,908 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.13% | 331,208 SH | Aug. 8, 2026 | Daily |
| MIDU · Direxion Shares ETF Trust | 0.13% | 1,066 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.11% | 734,801 SH | Aug. 8, 2026 | Daily |
| EMGF · iShares, Inc. | 0.10% | 22,000 SH | Aug. 8, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.09% | 280,109 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.08% | 13,233 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.07% | 2,522 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.07% | 2,654 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.07% | 2,506 SH | Aug. 8, 2026 | Daily |
| ACWX · iShares Trust | 0.06% | 83,484 SH | Aug. 8, 2026 | Daily |