Headwinds, tailwinds, and the filings that prove them.
Type a ticker and Loep reads the company’s 10-K, 10-Q, 8-K, Form 4 and 13F filings from SEC EDGAR, pulls the tape on a fifteen-minute clock, and lays out the report in eleven sections: headwinds and tailwinds in three tiers kept apart, fundamentals, statements, segments, prices with a mechanical signal and its rule printed, flow, outlook, peers, news, every source with its clock, and a written note on request.
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Research, never advice.
SAMPL
Placeholder Registrant Inc.
Sample Exchange · CIK 0000000000 · SIC 3829 Measuring and controlling devices · FY ends 12-31
Free cash flow fell 11.8% to $1.3bn while cash from operations rose 8.0% to $2.4bn; the difference is capital spending, which rose 43.8%.
This is a report on what a company filed. It is not a recommendation, not advice, and not a view on the security.
These three are different kinds of statement and are never combined into one list, one count or one score. Arithmetic on a filing, the company’s own risk language, and a vendor’s sentiment score do not carry the same weight, and printing them together would give the weakest the credibility of the strongest.
Measured from the filings
Loep’s arithmetic on figures the company filed with the SEC.
Relationships between reported figures, classified by a published threshold. Every reading names both figures and the filing they came from.
Revenue rose 8.1% while free cash flow fell 11.8%. Of 8 measured trends, 3 read as headwinds and 3 as tailwinds.
unweighted · one tick each · Loep never invents a magnitude
- Operating marginOperating margin widened by more than a point.operating margin 18.2% from 16.8% (+1.4 pts) · threshold 1 pt
- Shares outstandingThe diluted share count fell by more than one percent, so each remaining share owns more of the company.diluted shares 1,205m from 1,225m (−1.6%) · buybacks $600m · threshold ±1%
- InstrumentsThe segment’s operating result rose by more than five percent.segment revenue $7.1bn · operating result $1.6bn from $1.4bn · threshold ±5%
- Cash generation against revenueFree cash flow fell while revenue rose. The business grew and the cash it produced did not.revenue +8.1% · free cash flow −11.8% ($1.3bn from $1.4bn) · threshold ±5%
- Capital spending as a share of revenueCapital spending took a larger share of revenue than the year before, by more than two points.capital spending / revenue 9.3% from 7.0% (+2.3 pts) · threshold 2 pts
- Field servicesThe segment’s operating result fell by more than five percent.segment revenue $3.8bn · operating result $520m from $610m · threshold ±5%
- Profit that became cashFree cash flow was above four fifths of reported net income.free cash flow / net income 0.86 ($1.3bn against $1.5bn) · floor 0.80
- Atlas subscriptionsThe segment’s operating result moved by less than five percent.segment revenue $1.4bn · operating result $126m from $124m · threshold ±5%
- —Stock-based compensation against revenueStock-based compensation was not reported in the filing, so this could not be measured.stock-based compensation / revenue — from — (—) · threshold 1 pt
This trend could not be measured from what was filed. That is a gap in the filing, not a finding about the business, and it is different from steady.
These say what moved, not whether it was wrong. Free cash flow falling while revenue rises is a fact about two subtractions; whether it reflects a company investing into a real opportunity or one losing control of its costs is a judgment, and this tier does not make it.
The company’s own risk factors
Item 1A headings from the latest annual report, verbatim.
The headings only, with a link to the filing, and which headings are new since the prior annual report. A newly added risk factor is the useful half — companies add them when something has changed.
Risk factors are not extracted from filings yet. The company states them in Item 1A of its 10-K filed 2026-02-26, which is linked here and is the company’s own account of what could go wrong.
Read Item 1A in the 10-K filed 2026-02-26
Headings are matched as text, so a risk that was merely REWORDED between filings reads as new. The list is what the company chose to say and in the order it chose to say it; it is neither ranked nor weighted by Loep, and no body text is reproduced.
News, as the vendor classified it
A third-party data provider’s sentiment score. Not Loep’s reading.
Headline, source, link, timestamp and the vendor’s own score, above a relevance floor.
1 classified bullish, 1 bearish and 1 neither, by the data provider and not by Loep.
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Placeholder Registrant reports fiscal 2025 results
Sample Wire · 2026-09-16 · relevance 0.91Provider · Somewhat Bullish
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Placeholder Registrant names a chief financial officer
Sample Wire · 2026-09-12 · relevance 0.84Provider · Neutral
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Field services demand softens at Placeholder Registrant, a filing notes
Sample Ledger · 2026-09-03 · relevance 0.77Provider · Somewhat Bearish
Headlines and links only; no article text is reproduced. 3 of 20 retrieved items cleared the 0.7 relevance floor.
The floor exists because below it the feed is wrong: at 0.6 a live request for this company returned an article about Procter & Gamble and an article about Alphabet. The sentiment scores are the vendor’s classification and Loep neither verifies nor endorses them. No article text is reproduced.
There is no combined headwind/tailwind count and no net reading across the three tiers. Each is listed under its own heading with its own basis.
Headwinds and tailwinds are three different kinds of statement — Loep’s arithmetic on filed figures, the company’s own risk-factor headings, and a data provider’s news classification — and are never merged into one list, count or score.
Instruments earned the most operating income, $1.6bn on $7.1bn of revenue; Field services earned the least, $520m on $3.8bn.
One figure was revised after first being reported: revenue for the year to 2024-12-31.
A trailing-twelve-month figure needs four consecutive reported quarters, and this filer’s quarterly data has a gap. The full fiscal years are unaffected.
Not reported by this filer: stock-based compensation. Absent rather than zero.
Prices · read 2026-09-17 11:45320 sessions cached · the 200-day average and MACD are computed from the full series
The signal
The components sum to +1, which reads NEUTRAL: the trend is positive, momentum and confirmation are neither.
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Trend+1
Close 48.20 is above the 200-day average of 44.10; the 50-day average of 46.75 is above it.
close 48.20 · smaFast 46.75 · smaSlow 44.10
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Momentum0
RSI 14 reads 55.2, which is between 30 and 70 — neither.
rsi 55.20
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Confirmation0
The MACD histogram is flat: 0.004 against a close of 48.20.
macd 0.412 · signal 0.408 · hist 0.004
Inputs close 48.20 · smaFast 46.75 · smaSlow 44.10 · rsi 55.20 · macd 0.412 · signal 0.408 · hist 0.004
A conventional, publicly documented rule set applied mechanically. It is not Loep’s trading system and reveals nothing about it.
Mechanical, identical for every viewer, computed only from published daily price data. It considers nothing about the reader. Not advice, not a recommendation, and not Loep’s view of this security.
The rule, in full
- Trend
- Where the price sits against its 200-day average, and whether the 50-day average is above or below the 200-day. +1 when the close is above the 200-day average AND the 50-day is above the 200-day. −1 when the close is below the 200-day average AND the 50-day is below the 200-day. Zero when the two disagree.
- Momentum
- Relative Strength Index over 14 days. +1 when RSI is below 30 — conventionally read as oversold. −1 when RSI is above 70 — conventionally read as overbought. Zero between 30 and 70.
- Confirmation
- MACD 12/26/9 — the sign of the histogram, which is the MACD line less its signal line. +1 when the histogram is positive. −1 when the histogram is negative. Zero when it is flat — within 0.000001 of the price, which happens when the trend is perfectly steady and the two averages have converged.
- The three components sum to a whole number from −3 to +3.
- BUY at +2 or more.
- SELL at −2 or less.
- NEUTRAL in between, which includes every case where the components disagree.
This signal is mechanical and identical for every viewer. It is computed only from published price data, considers nothing about the reader or their circumstances, and is neither advice nor a recommendation. It is not Loep’s trading system. How this is disclosed
The signal is mechanical. The rule is printed above it and it never changes between tickers.