How is this ranking calculated?
Belvedere FCF / revenue, preferring trailing four quarters Eligibility: TTM revenue and TTM Belvedere FCF, or latest-period FCF and revenue; Identifiable operating cash flow and capex concepts.
Company ranking
Highest Free Cash Flow Margins
Free cash flow is a Belvedere calculation: net cash provided by operating activities minus capital expenditures. It is not company-defined non-GAAP FCF.
Are Belvedere rankings investment recommendations?
No. They are deterministic screens over SEC-derived facts using a published formula.
Ranking table
| Rank | Company | Ticker | TTM Belvedere FCF / TTM revenue | Revenue | Period | Filed |
|---|---|---|---|---|---|---|
| 1 | WORLD ACCEPTANCE CORP | WRLD | +45.3% | $139.2M | 2026-06-30 | Aug 6, 2026 |
| 2 | MONARCH CASINO & RESORT INC | MCRI | +31.5% | $136.6M | 2026-03-31 | Apr 30, 2026 |
| 3 | Elastic N.V. | ESTC | +27.5% | $478.1M | 2026-07-31 | Aug 28, 2026 |
| 4 | MESA LABORATORIES INC /CO/ | MLAB | +23.6% | $60.1M | 2026-06-30 | Aug 10, 2026 |
| 5 | NETSCOUT SYSTEMS INC | NTCT | +22.5% | $210.4M | 2026-06-30 | Aug 6, 2026 |
| 6 | WORKIVA INC | WK | +21.1% | $255.3M | 2026-06-30 | Aug 4, 2026 |
| 7 | DAKTRONICS INC /SD/ | DAKT | +11.6% | $234.6M | 2026-08-01 | Sep 2, 2026 |
| 8 | CIRRUS LOGIC, INC. | CRUS | +10.7% | $459.7M | 2026-06-27 | Aug 5, 2026 |
| 9 | SEMTECH CORP | SMTC | +9.6% | $291M | 2026-04-26 | May 27, 2026 |
| 10 | CTS CORP | CTS | +8.8% | $139.2M | 2026-03-31 | Apr 29, 2026 |
| 11 | AGILYSYS INC | AGYS | +8.3% | $87.7M | 2026-06-30 | Jul 27, 2026 |
| 12 | Boot Barn Holdings, Inc. | BOOT | +5.5% | $593.5M | 2026-06-27 | Jul 29, 2026 |
| 13 | CALERES INC | CAL | +4.6% | $677.8M | 2019-05-04 | Jun 13, 2019 |
| 14 | RPC INC | RES | +4.4% | $334.7M | 2019-03-31 | May 2, 2019 |
| 15 | ROGERS CORP | ROG | +0.5% | $200.5M | 2026-03-31 | Apr 29, 2026 |
| 16 | LA-Z-BOY INC | LZB | -1.6% | $475.7M | 2026-07-25 | Aug 18, 2026 |
| 17 | OCEANEERING INTERNATIONAL INC | OII | -13.0% | $456M | 2020-03-31 | May 15, 2020 |
| 18 | VICOR CORP | VICR | -14.5% | $113M | 2026-03-31 | Apr 30, 2026 |
| 19 | SMITH & WESSON BRANDS, INC. | SWBI | -18.5% | $112.6M | 2026-07-31 | Sep 3, 2026 |
| 20 | PETMED EXPRESS INC | PETS | -20.3% | $41M | 2026-06-30 | Aug 13, 2026 |
Methodology
Definition
Belvedere FCF / revenue, preferring trailing four quarters
Universe. Belvedere universe companies with four comparable quarterly cash-flow and revenue observations, or an annual pair when TTM is unavailable.
Eligibility
- TTM revenue and TTM Belvedere FCF, or latest-period FCF and revenue
- Identifiable operating cash flow and capex concepts
Limitations
- Missing cash-flow statements
- Unreliable or incomplete capex
- Figures that require a licensed market price are omitted.
- Rank position is not a recommendation.
See also the methodology page.
Frequently asked questions
- How is this ranking calculated?
- Belvedere FCF / revenue, preferring trailing four quarters Eligibility: TTM revenue and TTM Belvedere FCF, or latest-period FCF and revenue; Identifiable operating cash flow and capex concepts.
- Are Belvedere rankings investment recommendations?
- No. They are deterministic screens over SEC-derived facts using a published formula.
- Can companies pay to improve their ranking?
- No. Sponsored research clients cannot purchase placement, ranking upgrades, or score changes.