Evidence and analysis
Research evidence pack
Source-backed valuation visuals
2. Company Fundamentals
2.1 Competitiveness
| Metric | Value |
|---|---|
| Operating Margins | 69.98% |
| Profit Margins | 34.19% |
| Return on Equity | 39.3% |
| Return on Assets | 22.82% |
| Free Float | 0.15B |
| Short Int % Utilisation | 9.71% |
2.2 Growth
| Metric | Value |
|---|---|
| Revenue Growth | 251.0% |
| Free Cash Flow | 2.26B |
| EBITDA | 42.58 (Ratio) |
| Enterprise Value | 239.82B |
| EV/Revenue | 18.19 |
| EV/EBITDA | 42.58 |
Revenue growth of 251.0% places the company in a high-growth category.
2.3 Management
| Role | Metric |
|---|---|
| Consensus Rating | N/A |
2.4 Return
| Metric | Value |
|---|---|
| Expected Return (Ann.)* | 7193.79% |
| Risk / Std Dev (Ann.)* | 116.64% |
| 1-Year Price Return* | 3584.58% |
Latest Market Data (as of 2026-08-14, US Eastern time):
| Metric | Value |
|---|---|
| Last Price | $1,641.11 |
| 52-Week Range | $42.82 – $2,354.39 |
| Observation Count | 251 trading days |
The return and risk statistics use daily adjusted closes from the retrieved one-year series and annualise daily moments using 252 trading days. The last price is the latest regular-market price reported for the stated date. Source: Yahoo Finance market data.
DuPont Model Analysis
The DuPont model decomposes return on equity (ROE) into three operating and capital-structure drivers:
ROE = Net Margin × Asset Turnover × Equity Multiplier
The comparison uses the latest two comparable annual periods available for the issuer, with reported statement amounts shown in US$. Revenue and net income are income-statement flows; total assets and shareholders’ equity are year-end balance-sheet figures. This is a simplified year-end-balance DuPont comparison rather than an average-balance ROE calculation.
| DuPont component | Calculation | FY2026 | FY2025 |
|---|---|---|---|
| Revenue | Reported revenue | $20.25B | $7.36B |
| Net income | Reported net income | $11.43B | $-1.64B |
| Total assets | Year-end reported balance | $22.51B | $12.98B |
| Shareholders’ equity | Year-end reported balance | $15.74B | $9.22B |
| Net margin | Net income ÷ revenue | 56.46% | -22.31% |
| Asset turnover | Revenue ÷ total assets | 0.8996x | 0.5664x |
| Equity multiplier | Total assets ÷ shareholders’ equity | 1.4303x | 1.4090x |
| ROE | Net margin × asset turnover × equity multiplier | 72.66% | -17.81% |
Source: Yahoo Finance annual statements. Values are based on the two latest comparable annual periods returned by the source; fiscal period labels use the statement period-end year.
2.5 FCFF DCF Valuation
FCFF DCF exception: Reported operating inputs do not support a stable FCFF DCF. This post deliberately does not publish a mechanical enterprise value or implied per-share value on an unsuitable basis.
| Available valuation input | Value |
|---|---|
| Last market price | $1,612.73 |
| Market capitalisation | $238.83B |
| Revenue | $7.36B |
| EBIT | -$1.42B |
| Reported free cash flow | -$120.00M |
| FCF yield | -0.05% |
| Net debt / EBITDA | -0.45x |
2.6 Investor-Style Research Screen
| Educational screen | Result |
|---|---|
| Buffett-inspired cash-quality checks | not rated — FCFF DCF suitability or data-integrity condition not met |
| Lynch-inspired balance-and-growth checks | not rated — FCFF DCF suitability or data-integrity condition not met |
Data lineage: Yahoo Finance public market and reported-statement data; retrieval timestamp: 2026-08-18 17:48:51.527821 UTC; latest reported fiscal period: 2025-06-30 00:00:00. Financial institutions and REITs require sector-specific methods rather than a mechanical FCFF DCF. This is research and analysis only, not personalized financial advice.
2.7 Quantitative Factor Diagnostics
Model basis: Daily issuer USD excess returns are regressed in-sample using ordinary least squares on matching regional Fama–French factors. FF3 estimates market, size, and value loadings; FF5 adds profitability and investment. Coefficients are descriptive historical exposures, not predictions.
| Estimation input | Value |
|---|---|
| Regional factor set | US |
| Factor-return currency | USD |
| Issuer-return basis | USD adjusted total return |
| Estimation window | 2025-08-19 to 2026-06-30 |
| Aligned daily observations | 217 |
| Minimum observation requirement | 120 |
| Currency conversion for HK listings | not required |
Fama–French Three-Factor and Five-Factor Results
| Diagnostic | FF3 | FF5 |
|---|---|---|
| Annualised alpha | 8,846.36% | 5,365.15% |
| Adjusted R² | 0.21 | 0.24 |
| Annualised residual volatility | 97.38% | 94.77% |
| Factor loading (t-statistic) | FF3 | FF5 |
|---|---|---|
| Market excess return (Mkt-RF) | 3.88 (6.77) | 2.86 (4.46) |
| Size (SMB) | -0.16 (-0.20) | -0.58 (-0.71) |
| Value (HML) | 0.03 (0.05) | 0.61 (0.76) |
| Profitability (RMW) | NM | -2.25 (-3.31) |
| Investment (CMA) | NM | -0.22 (-0.19) |