C
Structural scoring is not meaningful for this business
Structural scoring uses gross margin, free cash flow and Altman Z — measures built for operating companies. For banks, insurers and asset managers they produce artifacts, because the cash-flow statement is dominated by lending and deposit flows rather than operations. Treat the structural and composite figures below as not comparable with other sectors, in either direction.
- Cost of goods sold is not reported, so gross margin reads as 100%
- Reported free cash flow is far outside the range an operating business can show, indicating balance-sheet rather than operating flows
Some scores are at the bottom of their range
This score sits at the bottom of the 0–100 range. The underlying calculation was negative, so the displayed value is a floor, not a measurement of zero.
- Structural Score: displayed 0, underlying value -21.0
Daily closes · 1Y (252 sessions) · +43.7% · range 92.59–145.67
The Businesswhat the company reports
Business & cash flow
| FCF / assets | -2.8% |
|---|---|
| OCF / assets | -2.5% |
| FCF / revenue | -79.4% |
| Gross margin | 100.0% |
| ROIC | 0.5% |
| Forward P/E | 10.7 |
FCF/assets and OCF/assets are the cash-flow measures Brown Bear's own testing found to survive; FCF/revenue is shown alongside for context. Assets are from the latest annual filing (FY2025).
Price vs Earnings growth
Price has run ahead of forward EPS growth by 5.0pp
Confidence 95.0/100
Drivers
| Forward EPS growth | +38.7% |
|---|---|
| Trailing price return (1y) | +43.7% |
| Forward P/E compression | +27.9% |
Figures
| Trailing EPS | 9.29 |
|---|---|
| Forward EPS | 12.88 |
| Trailing P/E | 14.81 |
| Forward P/E | 10.68 |
Revisions
Stable (+0.4%, 10 dates)
Takeaway Price and forward earnings growth are broadly in step; no strong valuation lean either way.
Reported earnings
Revenue Net incomeEPS (GAAP) (-0.94–2.35, own scale) Derived Q4
12 quarters to Q4 25. Revenue and net income share one scale, so the gap between them is the margin. The baseline is zero — bars below it are losses. The line is GAAP EPS — it spans every quarter shown, where the reported figure only goes back as far as the consensus feed does.
| Quarter ending | Revenue | YoY | Net income | EPS (GAAP) | EPS reported | vs consensus | Filed |
|---|---|---|---|---|---|---|---|
| 2025-12-31 (derived) | 19.87bn | +1.5% | 2.47bn | 1.32 | 1.81 | +6.0% | 2026-02-20 |
| 2025-09-30 | 22.09bn | +8.7% | 3.75bn | 2.01 | 2.24 | +15.6% | 2025-11-06 |
| 2025-06-30 | 21.67bn | +7.6% | 4.02bn | 2.12 | — | — | 2025-08-06 |
| 2025-03-31 | 21.60bn | +2.3% | 4.06bn | 2.12 | — | — | 2025-05-08 |
| 2024-12-31 (derived) | 19.58bn | +12.3% | 2.86bn | 1.47 | — | — | 2025-02-21 |
| 2024-09-30 | 20.32bn | +0.9% | 3.24bn | 1.67 | — | — | 2024-11-07 |
| 2024-06-30 | 20.14bn | +3.6% | 3.22bn | 1.65 | — | — | 2024-08-02 |
| 2024-03-31 | 21.10bn | -1.6% | 3.37bn | 1.73 | — | — | 2024-05-03 |
| 2023-12-31 (derived) | 17.44bn | — | -1.84bn | -0.94 | — | — | 2024-02-23 |
| 2023-09-30 | 20.14bn | — | 3.55bn | 1.82 | — | — | 2023-11-03 |
| 2023-06-30 | 19.44bn | — | 2.92bn | 1.48 | — | — | 2023-08-04 |
| 2023-03-31 | 21.45bn | — | 4.61bn | 2.35 | — | — | 2023-05-05 |
Earnings response
| Typical move around a filing | ±2.3% |
|---|---|
| On an ordinary two days | ±1.6% — filings move it 1.4× as much |
| Direction | 6 up, 4 down over 10 filings |
Revenue up year on year Revenue down Price move around the filing separate scales — a crossing means nothing
| Quarter ending | Filed | Revenue YoY | Move around filing | Next 20 sessions vs SPY |
|---|---|---|---|---|
| 2025-09-30 | 2025-11-06 | +8.7% | -0.9% | +6.2% |
| 2025-06-30 | 2025-08-06 | +7.6% | -0.3% | +2.2% |
| 2025-03-31 | 2025-05-08 | +2.3% | +1.7% | +3.1% |
| 2024-09-30 | 2024-11-07 | +0.9% | -0.6% | +3.6% |
| 2024-06-30 | 2024-08-02 | +3.6% | -10.3% | +2.6% |
| 2024-03-31 | 2024-05-03 | -1.6% | +3.0% | -5.1% |
| 2023-09-30 | 2023-11-03 | +8.8% | +3.0% | +6.3% |
| 2023-06-30 | 2023-08-04 | -1.0% | +0.3% | -9.4% |
| 2023-03-31 | 2023-05-05 | +11.8% | +3.3% | -1.8% |
| 2022-09-30 | 2022-11-04 | +7.9% | +3.8% | -5.3% |
Share count
Diluted shares Return since the previous filing
| Direction | Shrinking — shares retired |
|---|---|
| Diluted shares | 1,873.1M as at 2025-12-31 |
| Change over 1 year | -3.5% |
| Change over 3 years | -4.6% |
| Public float | $156.20bn as at 2025-06-30 (10-K) |
History before 2011-06-30 is not shown. The share count jumps at that date by a ratio no ordinary issuance produces — a split whose factor is not in Brown Bear's split store — so earlier figures are on a different basis and cannot be compared with today's.
The Pricewhat the chart is doingTop ↑
Price Levels
| Strategy | Current Price Reasonable |
|---|---|
| Reference band | 135.52 — 138.96 |
| Protective stop | 129.48 (Atr, 5.7% risk) |
| Support | 126.90 (3 touches, 8.4% away) |
| Resistance | 144.50 (5.0% away) |
Takeaway The shares are nearer the ceiling than the floor: about 5.0% below 144.50, where sellers have turned up before, and 8.4% above 126.90, where buyers have stepped in before. That floor has held 3 times, which is how it was spotted. If someone bought at today's price and sold if it dropped through the level below, they would be about 5.7% out of pocket. That is all this figure means — an illustration of the risk, not a price to sell at.
Levels are computed from price structure. They describe where the engine locates support and extension — they are not targets, and not advice.
Ichimoku Cloud (Adaptive)
| Daily cloud | Price ABOVE the cloud | periods 8/24/48 (92% of classic 9/26/52) |
|---|---|
| Lines | Tenkan/Kijun BEAR | cloud twist BEAR (fresh down, 4d ago) |
| Cloud event | Fresh up breakout 0d ago |
| Cloud thickness | 32% percentile (thin — little structure to fight through) |
| Chikou span | Not clear of price from 26 periods ago |
| Weekly cloud | Price ABOVE the weekly cloud (context only, not scored) |
Takeaway The stock is trading above its cloud — a shaded band drawn from several of its own moving averages, currently 135.80 to 137.37. Being above it means the medium-term picture is pointing upwards, and that band is the first place the stock has recent support if it slips back. Its shorter-term averages point the other way, so this is a mixed reading rather than a clear one.
Trailing returns
| 21 days | +3.2% |
|---|---|
| 63 days | +8.8% |
| 126 days | +12.6% |
| 252 days | +49.0% |
| Below 252d high | 5.6% |
Trend context
| Position | Far above trend |
|---|---|
| Extension | Extremely extended |
| Trend slope | Rising |
| Direction of travel | Diverging from trend |
Takeaway Extreme upside extension is still moving away from fair trend; chase risk is elevated.
Volatility
| State | In a squeeze |
|---|---|
| Current band width | 8.3% of price |
| Recent tightest | 7.6% (2 sessions ago, narrower than 84.0% of its history) |
| Expansion since | 1.10× |
| Band | 127.55 — 138.64 |
Takeaway Lately this share price has been swinging around inside a range roughly 8% wide, and it recently went unusually quiet — calmer than it has been 84% of the time. When a stock goes quiet like this, its next move tends to look big by comparison. But quiet says nothing about which way it will go: Brown Bear tested calm-before-a-move as a reason to buy, and it did not work.
Historical trends
History begins when the site started recording, not when the company listed, so a short line means a short record and nothing more.
Who's Tradingthe flow behind the priceTop ↑
Insider activity
| Activity | No filings in the window |
|---|---|
| Buy filings | 0 |
| Sell filings | 0 |
Open-market Form 4 purchases and sales over the last 75 days, read from SEC EDGAR Form 4. Grants, option exercises, gifts and shares withheld for tax are excluded — they are compensation mechanics, not a decision to buy or sell. Reported Form 4 activity. Brown Bear tested insider cluster-buying as a return signal and rejected it as era-unstable; shown as fact, not signal.
Volume confirmation
| Volume-price trend | Above its signal line |
|---|---|
| Confirmation | Marginal |
No absorption or distribution event in the recent window.
Takeaway Slightly more shares change hands on rising days than on falling ones, but the gap is too small to read anything into.
Options Positioning
No binary-event flag
C: no binary-event flag. Near IV 26%, far IV 29% (ratio 0.88), implied move 3.3%.
| Implied volatility | 26% near (9d) · 29% far (65d) |
|---|---|
| Term structure | 0.88× near/far |
| Historical volatility | 31% |
| Implied vs historical | 0.85× |
| Implied move | ±3.3% by 2026-08-21 |
| Implied move vs ATR | 0.48× |
| Skew | Flat (0.93×) |
| Put wall | 70.00 (-49.1% away) |
| Gamma pin | 70.00 |
Takeaway Insuring against a move in this stock costs less for the next few weeks than for the next few months, which is the normal state of affairs and suggests no particular date is worrying anyone. Options traders are positioned for a move of around 3.3% in either direction by 2026-08-21.
Chain as at 2026-08-12. This is a risk read on whether a specific event is being priced — not a directional view.
Context & Methodthe record, and how it was builtTop ↑
Relative Rotation
Leadership Cooling
Rotation health 59.0/100; Mixed Rotation.
| Rotation health | 59.0 |
|---|---|
| Rotation strength | 64.5 |
| Leg | Quadrant | RS-Ratio | RS-Mom |
|---|---|---|---|
| Stock vs sector | Leading | 106.1 | 109.0 |
| Stock vs SPY | Improving | 96.7 | 107.2 |
| Sector vs SPY | Lagging | 76.4 | 91.0 |
Direction of travel: South-East / trend strong but momentum cooling
Position only. Brown Bear's RRG redesign programme is closed — five constructions, none beat an appropriate null — so this section describes where the name sits, and is not a signal.
News Headlines
- Loading headlines\u2026
Headlines are supplied by third-party feeds and are not written, ranked or interpreted by Brown Bear. They feed no score on this page.
Detailed Scoring
Positive signals
- Gross margin quality: 100.0% (+6.0)
- FCF margin improving by -55.0 pts (+-1.0)
- High earnings quality (accrual ratio 0.031) (+1.0)
- Track 2: MACD histogram state (0.60) (+8.0)
- Track 2: MACD line/signal trend quality (+15.0)
- Track 2: MACD slope expanding (+5.0)
- Track 2: 20-day momentum acceleration 0.06 (+4.0)
- Track 2: bullish DI spread 11.0 (+8.0)
- Track 2: relative momentum rank 0.83 (+11.0)
- Track 2: price above EMA20 by 2.0% (+1.7)
- Track 2: EMA20 slope expanding 0.4% (+1.1)
- Track 2: price above EMA50 by 2.6% (+2.1)
- Track 2: EMA50 slope improving 0.4% (+1.0)
- Track 2: constructive pullback within uptrend (+10)
- Track 2: Bollinger position 0.90 (+7.2)
Negative signals
- Track 2: weak volume for momentum setup (0.46x average)
- Track 2: weak/falling ADX (25.6, falling)
- Track 2: RSI deterioration/overheating 61.3, 5-day change -0.2
- Track 2: weak VPT confirmation (0.00)
- Weak Piotroski F-score (2/9)
- Below-average Altman Z-score (1.24)
- ROIC improving by -0.1 pts (+-2.0)
- Track 2 structural exemption: Z-Score 1.24 below the 1.8 insolvency-risk floor and structural score 0.0/100 below the 25 quality floor; this is an unowned speculative candidate, so the universal SELL gate was skipped and the Track 2 momentum/RRG grid was allowed to evaluate instead. Structural quality here is weak by design for this kind of candidate -- treat any resulting BUY as higher risk than a Track 1 signal.
Chase risk is not elevated for this name, so extension penalties are omitted from the negative signals above.