Ex Machina · Institutional Research Platform

One intelligence layeracross public andprivate markets.

Millions of companies. Public and private. Financials, filings, ownership, transactions, capital structures, disclosures and relationships — structured, connected and built to answer sophisticated questions across companies, industries and time.

⌘K
IndustrialsFY2015 – FY2024DuPont decompositionROE > 15%
DuPont decomposition3 of 3 shown
CompanyROE 10Y avgNet marginAsset turnoverEquity multiplierROE driver
Fastenal FAST31.7%14.6%1.55x1.39xOperations
Deere & Co DE30.3%10.0%0.53x6.07xBalanced
Lockheed Martin LMT292.4%8.9%1.20x32.8xLeverage
Lockheed Martin clears 15% ROE on leverage, not operations — the thinnest net margin of the three (8.9%) carried by an equity multiplier averaging 32.8x and peaking at 136x in FY2018 after buybacks took equity near zero. Fastenal reaches a comparable ROE on 1.39x.
ROE composition
1x3x8x22x60x7%9%12%14%16%FASTDELMTNET MARGIN (%)EQUITY MULTIPLIER (x)
Equity multiplier, FY15–FY24
1x3x12x43x150x15161718192021222324
1 matchFY2017 – FY2024EBIT / interest < 1.0xCurrent ratio < 1.0
Solvency and liquidity by yearFY2017 – FY2024
Fiscal yearEBIT / interestCurrent ratioInterest > EBITLiquidity
FY170.474x0.509YesUnder 1.0
FY180.547x0.843YesUnder 1.0
FY190.565x0.559YesUnder 1.0
FY200.213x0.746YesUnder 1.0
FY210.107x0.583YesUnder 1.0
FY222.794x0.647NoUnder 1.0
FY232.077x0.679NoUnder 1.0
FY242.684x0.795NoUnder 1.0
ADT Inc. is the only entity meeting both tests — interest expense above EBIT for five consecutive years, not three, bottoming at 0.107x in FY2021 when interest ran 9.3x operating profit. Coverage recovered past 2.0x from FY2022, but the current ratio has never once closed above 1.0.
EBIT / interest coverage
0.0x1.0x2.0x3.0x1.0x break-evenFY17FY18FY19FY20FY21FY22FY23FY24
Current ratio
0.00.30.60.91.21.0 solvency floorFY17FY18FY19FY20FY21FY22FY23FY24
4 matchesRetail & e-commerceFY2015 – FY2024CCC < 0 days
Cash conversion cycle, days4 of 4 matches
CompanyFY15FY18FY20FY22FY24Structural
O'Reilly ORLY19.43.5-6.6-33.9-41.8From FY2020
AutoZone AZO-10.8-13.9-20.5-25.7-32.3Whole decade
Amazon AMZN-25.0-34.2-40.6-35.1-37.0Whole decade
Wayfair W-39.2-33.2-32.9-38.3-46.9Whole decade
Three of the four ran a negative cycle for the entire decade; O'Reilly is the structural transition, crossing into negative territory in FY2020 and reaching -41.8 days by FY2024 by stretching supplier terms while compressing inventory days. All four now collect from customers before they pay suppliers.
Cash conversion cycle, FY15–FY24
-60d-30d0d30d0 days15161718192021222324
FY2024 working-capital split
0d35d70d105d140dORLYAZOAMZNWDIO + DSODPO
12 tickersFY2020 – FY2024Ranked on FY24 EBITDA6 of 12 shown
FY2024 financial profile6 of 12 shown
#CompanyRevenueEBITDANet incomeCash from opsROEDebt/EBITDA
1Apple AAPL$391.0B$134.7B$93.7B$118.3B157.4%0.79x
2Microsoft MSFT$245.1B$129.4B$88.1B$118.6B37.1%0.74x
3NVIDIA NVDA$60.9B$34.5B$29.8B$28.1B91.5%0.32x
4Broadcom AVGO$51.6B$25.7B$5.9B$20.0B13.5%2.70x
5Oracle ORCL$53.0B$21.2B$10.5B$18.7B193.9%4.22x
7IBM IBM$62.8B$12.9B$6.0B$13.5B24.1%4.11x
Oracle and IBM carry leverage above 3.0x — 4.22x and 4.11x — and Oracle's 193.9% ROE is a function of that, not of operating improvement. Broadcom is the clearest net-income-to-cash divergence: $5.9B of net income against $20.0B of operating cash.
Net income vs cash from operations
$0B$32B$65B$98B$130B$0B$30B$60B$90B$120BparityAAPLMSFTNVDAAVGOORCLIBMNET INCOME ($B)CASH FROM OPS ($B)
Debt / EBITDA, FY20–FY24
0x1x2x3x4x5x3.0x threshold2021222324
5 tickersFY2015 – FY2024EBITDA marginXBRL · as-reported
EBITDA margin, first to last5 of 5 shown
CompanyFY15 marginFY24 marginChangeRevenue CAGRCost CAGR
Amazon AMZN7.4%18.9%+11.5 pts19.6%17.9%
Microsoft MSFT35.9%52.8%+16.9 pts11.3%9.1%
Alphabet GOOGL32.5%37.0%+4.5 pts18.7%18.1%
Apple AAPL35.3%34.4%-0.9 pts6.0%6.4%
Meta META45.6%50.9%+5.3 pts28.3%29.6%
Microsoft posts the largest structural expansion — +16.9 points — and the cleanest: SG&A and R&D compounded at 9.1% against 11.3% revenue growth, so the gain is operating leverage, not cuts. Meta's margin rose while its costs outgrew revenue.
EBITDA margin, FY15–FY24
0%15%30%45%60%15161718192021222324
Margin shift, FY15 to FY24
0%15%30%45%60%FY2015FY2024MSFTMETAGOOGLAAPLAMZN
Take a demo Sign in

Features

Six capabilities, each answering the question a desk actually opens the platform to ask.

01

Industry & Transaction Intelligence

What is happening in this market?

 Market mapUS · 2026 02

Deal Sourcing & Capital Raising

Which opportunity or capital provider should we pursue?

 Screen resultLive 03

Benchmarking & Analytics

How does this company perform and what is it worth?

 Peer compsEV/EBITDA 04

Ownership & Legal Intelligence

Who owns or controls the company, and what rights or obligations matter?

 OwnershipStructure 05

Filing Intelligence

What changed, why does it matter, and where was it disclosed?

 Filing feedEDGAR 06

Debt & Equity Intelligence

How is the company financed, and where are the risks or financing opportunities?

 Credit profileFY2026

Built for investment banking, private equity, public-market research and corporate development teams.

0
Companies
0
SEC filings indexed
0
Screening variables
0
Years of history
Coverage

Screening

Six modules, one normalized entity graph. No exports between systems, no reconciling two vendors' definitions of the same metric.

Company Screening

Interrogate 60,000+ issuers across financial, operational, ownership, transaction and disclosure variables.

  • GICS TREE
  • 240+ VARIABLES
  • TEMPLATES

Transactions & M&A

Analyze transactions across time, sectors and participants.

  • EV / EBITDA
  • DEAL TERMS
  • ADVISORS

Investors & Ownership

See who owns, accumulates, exits and influences companies.

  • 13F / 13D
  • INSIDERS
  • ACTIVISM

Financials & Filings

Statements, MD&A, risk factors and legal proceedings — parsed from EDGAR and searchable with AI-built filters.

  • 10-K / 10-Q / 8-K
  • MD&A
  • AS-REPORTED

Market & Peer Comps

Build dynamic peer groups around the characteristics that actually matter.

  • TRADING MULTIPLES
  • PEER SETS
  • COVERAGE

Macroeconomics

Region and country profiles, business-cycle positioning and the sector exposure that sits underneath them.

  • REGIONS
  • CYCLES
  • SECTORS
Depth

Take a tour

Click any screening result straight into statements, multiples, ownership, transactions and filings — without losing the screen you came from.

exmachina / company-dashboard / financial-metrics
Revenue
26.4B
▲ 16.3% YoY
EBITDA margin
32.2%
▲ 90 bps
Net debt / EBITDA
1.8x
▼ 0.3x
Revenue trendFY16 — FY25 · USD BN
PeerEV/EBITDARev growthMargin
Peer A18.4x12.1%30.8%
Peer B21.7x9.4%27.5%
Peer C15.2x18.9%34.1%
Median18.4x12.1%30.8%

Integrated research, not isolated screens.

  • As-reported and normalized side by side — you always know which one you're citing.
  • Every conclusion is auditable. Move instantly from an AI insight to the underlying metric.
  • Peer sets are yours. Build them on any metric; they persist across every module.
  • Templates and saved screens so a Monday morning screen takes seconds, not an hour.
  • Export to Excel with the filter provenance attached.
Book a walkthrough

Get A Trial

Access is granted on request. Tell us what you cover and we'll run a walkthrough against the companies, deals and filings you actually work on.

Take a Tour Book a Meeting