BenzingaT3·34mo ago
ASA ASA GOLD AND PRECIOUS METALS LIMITED
XNYS 83.51 DelayedStock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
ASA
$83.51
—
Key stats
$83.51
- 52-Week Range
- $43.20 – $83.20
- YTD
- +43.36%
- IV Rank (30D)
- 54.3
- Straddle Price
- $6.70
- P/C Vol Ratio
- 1.39
- Market Cap
- $1.0B
- Open
- $52.34
- Day Range
- $51.45 – $53.00
- Volume
- 59,452
- Prev Close
- $52.22
About
- Exchange
- XNYS
- Market Cap
- $1.0B
- List Date
- 1958-12-08
- CIK
- 0001230869
- Homepage
- https://www.asaltd.com
ASA Gold And Precious Metals Ltd is a closed-end, non-diversified investment company. Its objective is to provide long-term capital appreciation through investing in companies engaged in the exploration for, development of projects, or mining of precious metals and minerals.
Fund profile
- Expense ratio
- —
- Assets
- $972M shares × price, Oct 21, 2026
- Trailing yield
- —
- Average daily volume
- $2.7M 30 sessions
- Holdings
- —
- Listed
- Dec 8, 1958 NYSE
Costn/a
Liquidity48
Scale74
Diversificationn/a
Moves with. Gold (55% of its variance, beta 1.18); US large-cap stocks (10% of its variance, beta 0.81); US dollar (4% of its variance, beta -0.64); Small caps over large (3% of its variance, beta 0.46). These factors explain 75% of its daily moves over the last year.
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| CEFSprott Physical Gold and Silver Trust | — | — | $6.9B | −0.8% | compare |
| GLTRabrdn Physical Precious Metals Basket Shares ETF | — | — | $2.5B | −2.6% | compare |
| PPLTabrdn Physical Platinum Shares ETF | — | — | $1.9B | −1.4% | compare |
| PALLabrdn Physical Palladium Shares ETF | — | — | $572M | −28.3% | compare |
| SPPPSprott Physical Platinum and Palladium Trust | — | — | $468M | −14.8% | compare |
The largest other funds in the Precious Metals category.
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -9.11% | -2.83% | 11.01% | -3.76% | 11.65% | 10.80% | 2.96% |
| Feb | -14.69% | 7.01% | -14.02% | -9.95% | 1.58% | 28.68% | -0.23% |
| Mar | 6.74% | -0.80% | 8.16% | 10.66% | 21.97% | -23.67% | 3.84% |
| Apr | 6.34% | -10.02% | 1.96% | 11.97% | 2.43% | -1.37% | 1.89% |
| May | 8.96% | -9.32% | -5.58% | 4.07% | 9.03% | 0.67% | 1.30% |
| Jun | -11.74% | -20.49% | -6.83% | -4.41% | -6.13% | -16.51% | -11.02% |
| Jul | 2.69% | 1.34% | 2.79% | 7.60% | -4.62% | -6.40% | 0.57% |
| Aug | -4.02% | -6.67% | -1.13% | 4.83% | 21.27% | 27.02% | 6.88% |
| Sep | -9.27% | -7.39% | -9.44% | 10.18% | 18.84% | -8.91% | -1.00% |
| Oct | 9.48% | -6.45% | 4.46% | 4.47% | -0.07% | -7.34%* | 0.76% |
| Nov | -0.53% | 15.93% | 13.66% | -7.15% | 14.11% | -- | 7.20% |
| Dec | 4.35% | -2.85% | -4.38% | 0.70% | 11.24% | -- | 1.81% |
| Total | -13.99% | -38.24% | -3.25% | 29.68% | 152.86% | -9.47% | 19.60% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $54.71
SMA 50: $58.47
SMA 200: $61.58
Current: $51.50
EMA 12: $53.56
EMA 26: $55.23
MACD: -1.6677 | Signal: -0.2707
BEARISH
ADX (14): 24.10
WEAK TREND
+DI: 13.94
−DI: 23.50
Momentum Oscillators
RSI (14): 37.17
NEUTRAL
Stoch %K: 22.36
Stoch %D: 27.84
Williams %R: -85.85
Volume & Volatility
BB Upper: $58.30
BB Lower: $51.12
NEUTRAL
OBV: 5,436,323
Vol SMA 20: 37,763
Vol ROC: 30.66%
ATR: $2.09
True Range: $1.55
HV 20: 39.1%
HV 30: 39.0%
HV 60: 43.9%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 7/10)
Key Drivers: Strong technical momentum, positive news sentiment, and institutional buying signals.
Primary Risks: High volatility, potential for market correction, and mixed earnings expectations.
Investment Thesis: ASA's recent price action has been driven by a combination of strong technical indicators and positive news sentiment. The stock's high beta and high volatility suggest that it is more sensitive to market movements than the broader market. While the options market is pricing in a $6.70 move by expiration, we believe that this could be an attractive opportunity for traders looking to capitalize on the trend.
Recent News Sentiment Impact: The recent news headlines have been neutral, with no significant bearish or bullish catalysts emerging. However, the overall sentiment has been positive, which may continue to support the stock's price action.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Neutral
Support/Resistance Levels:
- Lower Bollinger Band: $56.45
- Middle Bollinger Band: $61.76
- Upper Bollinger Band: $67.06
- SMA 20: $61.76
- EMA 26: $60.45
Momentum Signals:
- RSI (14): 57.41 (neutral)
- MACD: Bullish momentum (2.41 / Signal: -0.11 / Histogram: 2.52)
News & Sentiment Analysis
Recent Headlines Summary: Neutral news headlines with no significant bearish or bullish catalysts.
Sentiment Assessment: Positive sentiment overall, suggesting continued support for the stock's price action.
Catalyst Identification: No immediate catalysts identified, but the options market is pricing in a $6.70 move by expiration.
Market Narrative: The recent news headlines have been neutral, and we believe that this may continue to support the stock's price action. However, the high volatility and beta suggest that there are risks associated with holding the stock.
Risk & Volatility Assessment
Beta Interpretation: High risk relative to market (beta: 1.91).
Volatility Regime: Current vs historical volatility levels: high volatility - stock moves more than market.
Options Market Signals: IV rank: 49.6% (Medium), Current IV: 104.7%, Expected Move: $6.70 (18 DTE).
Market Context & Positioning
Sector Performance: Neutral performance within the seafood sector.
Institutional Activity: Institutional buying signals are present, suggesting continued support for the stock's price action.
Correlation Analysis: Correlation with SPY: 0.47 - suggests that ASA is more sensitive to market movements than the broader market.
Relative Valuation: Position within trading range: neutral.
Key Levels & Action Items
Critical Price Levels: Support at $56.45 and resistance at $67.06.
Breakout/Breakdown Levels: Technical levels that could trigger significant moves:
- Lower Bollinger Band: $56.45
- Middle Bollinger Band: $61.76
- Upper Bollinger Band: $67.06
Time-Sensitive Catalysts: No immediate catalysts identified, but the options market is pricing in a $6.70 move by expiration.
Risk Management: Stop-loss levels and position sizing considerations:
- Risk tolerance: 2-3% of account size
- Stop-loss level: $56.45 (below lower Bollinger Band)
- Position sizing: 1-2% of account size
By analyzing the technical indicators, news sentiment, and risk metrics, we believe that ASA's recent price action has been driven by a combination of strong technical momentum and positive news sentiment. While there are risks associated with holding the stock due to its high volatility and beta, we believe that this could be an attractive opportunity for traders looking to capitalize on the trend.
Generated
News
All ASA news →
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ASA Options Activity & IV Rank
ASA IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 47.4%
7-DTE IV: 45.4%
Expected Move: $6.70
7-DTE Move: $6.70
Days to Exp: 18 (2026-03-20)
Options Flow
Call Volume: 18
Put Volume: 25
P/C Volume: 1.389
BEARISH
Call OI: 66
Put OI: 39
P/C OI: 0.591
Total OI: 105
ATM Options Pricing
ATM Call: $2.50
ATM Put: $4.20
Call %: 3.0%
Put %: 5.0%
Chain Summary
Chain Volume: 254
Chain OI: 1,091
Last Updated: 3/2/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 64th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
64%
vs own history
GEX tilt
+0.63
OI-weighted, today
Vanna tilt
-0.62
δ-sensitivity to IV
Charm tilt
+0.66
δ-decay vs time
Vanna tilt -0.62: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt +0.66: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 7 ATM contracts, 0k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)9.6LowMar 2
IV Rank (30 DTE)54.3MediumMar 2
Straddle Price (30 DTE)$6.70Mar 2
Beta Analysis
Risk Metrics
Beta: 2.0257
Alpha: -3.67%
Correlation: 0.5113
R-Squared: 26.1%
Stock Volatility: 50.3%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own ASA
1 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Citadel Hedge fund Ken Griffin | $497K | #4475 of 6285 | -82.2% | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
ASA Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
3 filers$1.09M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $780.60K | 71.43% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $275.81K | 25.24% | 2026-06-30 |
| 3 | Simplex Trading, LLC Custodian | $36.43K | 3.33% | 2026-06-30 |
1 filers$26.02K notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Simplex Trading, LLC Custodian | $26.02K | 100.00% | 2026-06-30 |
ASA Insider Trading (Form 4)
Latest: 2026-02-20Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-02-20 | Alexander Merk | COO | Sell (S) | −13,355 | $70.60 | -$942.9K | EDGAR |
| 2026-02-17 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +134,093 | $70.37 | $9.44M | EDGAR |
| 2026-02-12 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +40,222 | $72.09 | $2.90M | EDGAR |
| 2026-02-11 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +88,140 | $70.77 | $6.24M | EDGAR |
| 2026-02-09 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +31,219 | $65.12 | $2.03M | EDGAR |
| 2026-02-05 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +35,121 | $66.20 | $2.33M | EDGAR |
| 2026-02-03 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +8,466 | $64.27 | $544.1K | EDGAR |
| 2026-02-02 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +38,783 | $69.54 | $2.70M | EDGAR |
| 2026-01-29 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +60,895 | $75.19 | $4.58M | EDGAR |
| 2026-01-27 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +1,400 | $72.90 | $102.1K | EDGAR |
| 2026-01-22 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +3,723 | $66.08 | $246.0K | EDGAR |
| 2026-01-20 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +9,195 | $63.49 | $583.8K | EDGAR |
| 2026-01-15 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +20,162 | $64.35 | $1.30M | EDGAR |
| 2026-01-13 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +9,508 | $64.19 | $610.3K | EDGAR |
| 2026-01-12 | Saba Capital Management, L.P. | 10%+ Owner | Buy (P) | +6,631 | $61.54 | $408.0K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
ASA Insider Holdings
5 insiders · @ $51.50
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Saba Capital Management, L.P. | 10%+ Owner | 5,853,141 | $301.44M | $118.61M | 70 | 2026-02-17 |
| 2 | Boaz Weinstein | 10%+ Owner | 4,310,895 | $222.01M | $80.51M | 14 | 2025-09-11 |
| 3 | Alexander Merk | COO | 303,805 | $15.65M | $4.45M | 24 | 2026-02-20 |
| 4 | Mary Joan Hoene | Director | 8,600 | $442.9K | $120.8K | 21 | 2025-01-06 |
| 5 | William Donovan | Director | 4,200 | $216.3K | $64.7K | 5 | 2025-01-22 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
ETF Holders
1 ETF hold ASA
1 shown · $36.95M total exposure
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | CEFS Saba Closed-End Funds ETF | Nport | 8.75% | $37.0M | — | 2026-05-31 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.