TECH
Daily closes · 1Y (252 sessions) · +36.7% · range 43.30–72.29
The Businesswhat the company reports
Business & cash flow
| FCF / assets | 10.0% |
|---|---|
| OCF / assets | 11.2% |
| FCF / revenue | 23.6% |
| Gross margin | 66.4% |
| ROIC | 4.5% |
| Forward P/E | 31.3 |
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
Forward EPS growth has outpaced trailing price return by +193.4pp
Confidence 95.0/100
Drivers
| Forward EPS growth | +230.1% |
|---|---|
| Trailing price return (1y) | +36.7% |
| Forward P/E compression | +69.7% |
Figures
| Trailing EPS | 0.70 |
|---|---|
| Forward EPS | 2.31 |
| Trailing P/E | 103.19 |
| Forward P/E | 31.26 |
Revisions
Strongly Improving (+13.0%, 10 dates)
Takeaway Earnings growth is outpacing price — consistent with the stock not yet fully reflecting its improving forward estimates.
Reported earnings
Revenue Net incomeEPS (GAAP) (-0.11–0.47, own scale) Derived Q4
12 quarters to Q1 26. 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 |
|---|---|---|---|---|---|---|---|
| 2026-03-31 | 311.42m | -1.5% | 51.05m | 0.32 | 0.53 | -3.3% | 2026-05-06 |
| 2025-12-31 | 295.88m | -0.4% | 38.01m | 0.24 | 0.46 | +4.0% | 2026-02-04 |
| 2025-09-30 | 286.56m | -1.0% | 38.19m | 0.24 | 0.42 | -2.0% | 2025-11-05 |
| 2025-06-30 (derived) | 316.96m | +3.5% | -17.68m | -0.11 | 0.53 | +4.1% | 2025-08-22 |
| 2025-03-31 | 316.18m | +4.2% | 22.59m | 0.14 | — | — | 2025-05-08 |
| 2024-12-31 | 297.03m | +9.0% | 34.89m | 0.22 | — | — | 2025-02-06 |
| 2024-09-30 | 289.46m | +4.5% | 33.60m | 0.21 | — | — | 2024-11-05 |
| 2024-06-30 (derived) | 306.10m | +1.6% | 40.59m | 0.25 | — | — | 2024-08-22 |
| 2024-03-31 | 303.43m | — | 49.06m | 0.31 | — | — | 2024-05-06 |
| 2023-12-31 | 272.60m | — | 27.46m | 0.17 | — | — | 2024-02-07 |
| 2023-09-30 | 276.94m | — | 50.99m | 0.31 | — | — | 2023-11-07 |
| 2023-06-30 (derived) | 301.32m | — | 75.48m | 0.47 | — | — | 2023-08-23 |
Earnings response
| Typical move around a filing | ±2.1% |
|---|---|
| On an ordinary two days | ±2.0% — filings move it 1.1× as much |
| Direction | 6 up, 6 down over 12 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 |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-06 | -1.5% | -10.2% | +1.5% |
| 2025-12-31 | 2026-02-04 | -0.4% | +1.9% | -17.3% |
| 2025-09-30 | 2025-11-05 | -1.0% | -4.8% | +3.9% |
| 2025-03-31 | 2025-05-08 | +4.2% | +2.4% | -6.2% |
| 2024-12-31 | 2025-02-06 | +9.0% | -3.2% | -6.8% |
| 2024-09-30 | 2024-11-05 | +4.5% | -0.1% | -5.1% |
| 2024-03-31 | 2024-05-06 | +3.2% | +0.2% | -1.0% |
| 2023-12-31 | 2024-02-07 | +0.4% | +0.9% | +10.8% |
| 2023-09-30 | 2023-11-07 | +2.7% | -0.0% | +11.3% |
| 2023-03-31 | 2023-05-08 | +1.3% | -2.5% | -2.3% |
| 2022-12-31 | 2023-02-07 | +0.9% | +1.9% | +0.9% |
| 2022-09-30 | 2022-11-07 | +4.6% | +2.2% | +1.1% |
Share count
Diluted shares Return since the previous filing
| Direction | Flat — little net change |
|---|---|
| Diluted shares | 157.4M as at 2026-03-31 |
| Change over 1 year | -1.0% |
| Change over 3 years | -2.6% |
| Public float | $11.40bn as at 2024-12-31 (10-K) |
Counts are restated for the 4:1 split of 2022-11-30, which would otherwise read as a share issuance.
The Pricewhat the chart is doingTop ↑
Price Levels
| Strategy | Current Price Reasonable |
|---|---|
| Reference band | 71.39 — 72.95 |
| Protective stop | 71.47 (Atr, 1.0% risk) |
| Support | 71.19 (5 touches, 1.5% away) |
| Resistance | — (— away) |
Takeaway The shares are about 1.5% above 71.19, a price buyers have stepped in at before. There is no ceiling to point to, because the stock is trading where it has not traded before and nobody has sold it at these levels. That floor has held 5 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 1.0% 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 9/26/52 (100% of classic 9/26/52) |
|---|---|
| Lines | Tenkan/Kijun BEAR | cloud twist BULL |
| Cloud thickness | 78% percentile |
| Chikou span | Above 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 60.72 to 71.82. 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. The band is unusually wide at the moment, so it marks a broad zone rather than a single level.
Trailing returns
| 21 days | +1.4% |
|---|---|
| 63 days | +52.3% |
| 126 days | +11.5% |
| 252 days | +44.0% |
| Below 252d high | 0.1% |
Trend context
| Position | At trend |
|---|---|
| Extension | Normal |
| Trend slope | Rising |
| Direction of travel | Holding its deviation |
Takeaway Price is near a rising Kalman fair trend, consistent with a healthy trend setup.
Volatility
| State | In a squeeze |
|---|---|
| Current band width | 1.2% of price |
| Recent tightest | 1.2% (0 sessions ago, narrower than 99.0% of its history) |
| Expansion since | 1.00× |
| Band | 71.51 — 72.39 |
Takeaway Lately this share price has been swinging around inside a range roughly 1% wide, and it recently went unusually quiet — calmer than it has been 99% 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.
Repair Pathway
- Nearest Trigger MACD repair streak continuation 5 improving bars MACD histogram has improved for 5 consecutive sessions · Broadly stable
- Trigger 2 Positive 20-day momentum acceleration repair trigger repair engine identifies this as the nearest technical repair catalyst · Broadly stable
- Trigger 3 Volume confirmation above 1.2x +0.20x volume confirmation would improve confidence in the pathway · Deteriorating
- Trigger 4 MACD bullish crossover secondary repair secondary repair catalyst could add confirmation if the primary trigger develops · Broadly stable
- Trigger 5 MACD histogram above zero 0.48 gap is improving · Broadly stable
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 |
| Event | Distribution (3 session(s) ago) |
|---|---|
| Volume percentile | 90% |
| Range percentile | 19% |
| Close within the bar | 92% of range |
| Event level | 72.32 (held) |
The bearish mirror of this detector failed testing. A distribution event is reported as an observation, not as a warning that has been shown to work.
Takeaway Slightly more shares change hands on rising days than on falling ones, but the gap is too small to read anything into. There was also a day 3 session(s) ago when a great many shares changed hands and the price still failed to rise. Recorded as an observation only: Brown Bear tested this as a warning sign and it did not work.
Options Positioning
Binary-event risk flagged
TECH: binary-event risk suspected -- Term structure inverted (near 26% IV vs far 9% IV, ratio 2.99); Implied move 3.3% is 2.85x the ATR-expected 1.2% over 9d. Options market is pricing a discrete catalyst; technical breakout signals are unreliable until it resolves.
| Implied volatility | 26% near (9d) · 9% far (65d) — Term structure inverted — the market is pricing an event in the near window |
|---|---|
| Term structure | 2.99× near/far |
| Historical volatility | 5% |
| Implied vs historical | 5.56× — Options are priced well above what the stock has actually done |
| Implied move | ±3.3% by 2026-08-21 — Large relative to this stock's normal daily range |
| Implied move vs ATR | 2.85× |
| Skew | Put Skew (2.32×) |
| Call wall | 85.00 (+17.7% away) |
| Put wall | 50.00 (-30.8% away) |
| Gamma pin | 50.00 |
- Term structure inverted (near 26% IV vs far 9% IV, ratio 2.99)
- Implied move 3.3% is 2.85x the ATR-expected 1.2% over 9d
Takeaway Insuring against a move in this stock costs more for the next few weeks than for the next few months. Traders usually pay up like that when they know something is coming soon — results, a court ruling, a regulatory decision. Options traders are positioned for a move of around 3.3% in either direction by 2026-08-21. The overall shape suggests they expect a one-off result that lands either well or badly, rather than a gradual drift.
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
Mixed Rotation Phase
Rotation health 61.0/100; Positive Rotation.
| Rotation health | 61.0 |
|---|---|
| Rotation strength | 79.3 |
| Leg | Quadrant | RS-Ratio | RS-Mom |
|---|---|---|---|
| Stock vs sector | Improving | 83.5 | 118.3 |
| Stock vs SPY | Improving | 82.8 | 117.2 |
| Sector vs SPY | Improving | 86.4 | 102.1 |
Direction of travel: North-East / strengthening leadership
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
- Piotroski F-score 4/9 (+5.0)
- Altman Z-score 17.90 (+10.0)
- Gross margin quality: 66.4% (+17.0)
- FCF margin quality: 23.6% (+15.7)
- FCF margin improving by -2.2 pts (+-3.0)
- High earnings quality (accrual ratio -0.084) (+5.0)
- Accrual ratio improving (-0.05 -> -0.08) (+5.0)
- Track 1: bullish DI spread 9.4 (+3.0)
- Track 1: ADX 51.7 and falling (+5.0)
- Track 1: relative momentum rank 0.79 (+3.8)
- Track 1: Bullish MACD divergence (+12.0)
- Track 1: EMA20 reclaim distance 1.2% (+7.0)
- Track 1: EMA20 slope improving 0.7% (+1.8)
- Track 1: RSI recovery 63.5, 5-day change +7.6 (+2.3)
- Track 1: VPT strength 0.04 (+0.8)
- Track 1: price above EMA50 by 7.8% (+4.9)
- Track 1: EMA50 slope improving 3.9% (+3.0)
- Track 1: constructive pullback zone (+15.0)
- Track 1: Bollinger position 0.81 (+1.5)
Negative signals
- Track 1: weak volume confirmation (0.64x average)
- Relative strength versus sector deteriorating
- Track 1: negative 20-day momentum acceleration (-0.26)
- Track 1: weak MACD line/signal structure (-5.0)
- Track 1: MACD slope deteriorating (-3.0)
- Gross margin improving by -0.0 pts (+-3.0)
- ROIC improving by -3.4 pts (+-5.0)
Chase risk is not elevated for this name, so extension penalties are omitted from the negative signals above.