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CleanCore Solutions (ZONE)

Market Price (3/7/2026): $0.34 | Market Cap: $2.7 Mil
Sector: Industrials | Industry: Environmental & Facilities Services

CleanCore Solutions (ZONE)

Market Price (3/7/2026): $0.34
Market Cap: $2.7 Mil
Sector: Industrials
Industry: Environmental & Facilities Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Megatrend and thematic drivers
Megatrends include Sustainable Consumption, Sustainable Resource Management, and Sustainable & Green Buildings. Themes include Eco-friendly Products, Show more.		 Weak multi-year price returns
2Y Excs Rtn is -123%, 3Y Excs Rtn is -162%		 Penny stock
Mkt Price is 0.3
1   Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -4.9 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -178%
2   Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 150%
3   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.5%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.5%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -218%
5   High stock price volatility
Vol 12M is 145%
6   Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 32%
7   Key risks
ZONE key risks include [1] extreme volatility from its Dogecoin treasury strategy, Show more.
0 Megatrend and thematic drivers
Megatrends include Sustainable Consumption, Sustainable Resource Management, and Sustainable & Green Buildings. Themes include Eco-friendly Products, Show more.
1 Weak multi-year price returns
2Y Excs Rtn is -123%, 3Y Excs Rtn is -162%
2 Penny stock
Mkt Price is 0.3
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -4.9 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -178%
4 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 150%
5 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -5.5%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.5%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -218%
7 High stock price volatility
Vol 12M is 145%
8 Significant short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 32%
9 Key risks
ZONE key risks include [1] extreme volatility from its Dogecoin treasury strategy, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

CleanCore Solutions (ZONE) stock has lost about 10% since 11/30/2025 because of the following key factors:

1. CleanCore Solutions reported a significant increase in its net loss for fiscal Q1 2026 (ended September 30, 2025), announced on November 13, 2025. The net loss surged to approximately $13.4 million, a substantial rise from $0.9 million in Q1 2025, largely driven by General and Administrative (G&A) expenses increasing to $8.6 million from $0.9 million in the prior year.

2. The company's new Dogecoin (DOGE) treasury strategy contributed to increased expenses and investor apprehension. Management attributed a significantly higher net loss in Q1 2026 to "one-time expenses related to our treasury strategy transaction" as CleanCore embarked on establishing a Dogecoin Treasury, with an objective to acquire up to 5% of Dogecoin's circulating supply.

Show more

Stock Movement Drivers

Fundamental Drivers

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Market Drivers

11/30/2025 to 3/6/2026
ReturnCorrelation
ZONE-8.6% 
Market (SPY)-1.6%36.8%
Sector (XLI)10.6%28.6%

Fundamental Drivers

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Market Drivers

8/31/2025 to 3/6/2026
ReturnCorrelation
ZONE-95.6% 
Market (SPY)4.5%20.1%
Sector (XLI)12.3%18.5%

Fundamental Drivers

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Market Drivers

2/28/2025 to 3/6/2026
ReturnCorrelation
ZONE-73.4% 
Market (SPY)14.2%11.5%
Sector (XLI)25.9%11.8%

Fundamental Drivers

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Market Drivers

2/28/2023 to 3/6/2026
ReturnCorrelation
ZONE  
Market (SPY)76.0%13.1%
Sector (XLI)75.6%12.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ZONE Return----63%-80%23%-91%
Peers Return17%-17%25%11%-13%6%25%
S&P 500 Return27%-19%24%23%16%-0%82%

Monthly Win Rates [3]
ZONE Win Rate---11%50%33% 
Peers Win Rate53%42%55%53%38%60% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
ZONE Max Drawdown----67%-82%-10% 
Peers Max Drawdown-8%-28%-8%-6%-20%-4% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-1% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: ECL, TNC, CLX, KMB, CSL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/6/2026 (YTD)

How Low Can It Go

ZONE has limited trading history. Below is the Industrials sector ETF (XLI) in its place.

Unique KeyEventXLIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-22.6%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven29.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven273 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-42.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven74.8%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven232 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven32.6%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven312 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-63.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven172.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,463 days1,480 days

Compare to ECL, TNC, CLX, KMB, CSL

In The Past

SPDR Select Sector Fund's stock fell -22.6% during the 2022 Inflation Shock from a high on 1/4/2022. A -22.6% loss requires a 29.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About CleanCore Solutions (ZONE)

We specialize in the development and manufacturing of cleaning products that produce pure aqueous ozone for professional, industrial, or home use. We have a patented nanobubble technology using aqueous ozone that we believe is highly effective in cleaning, sanitizing, and deodorizing surfaces and high-touch areas. Our mission is to become a leader in creating safe, clean spaces that are free from any chemical residue or skin irritants. We are currently expanding our distributor network, improving our manufacturing processes, and proving the effectiveness of our products in restaurants, airports, and hotels. As noted by the U.S. Environmental Protection Agency, or the EPA (“Wastewater Technology Fact Sheet: Ozone Disinfection,” September 1999), ozone has been used in water treatment facilities to remove pathogens from water for decades. However, ozone was not safe for traditional cleaning because the gas alone can be harmful when inhaled. In recent years, ozone has been found to become a powerful cleaning solution if infused into tap water, which then creates a solution called aqueous ozone. Once the ozone is added into the water, the resulting solution is safe to handle, yet continues to hold the effective cleaning and oxidizing components of ozone. Our product offerings utilize a patented technology that we believe produces an enhanced aqueous ozone solution that requires no additives, filters, or advanced chemicals. We believe that we are the only company that has an aqueous ozone solution that is produced in the form of nanobubbles. In a critical review from Environmental Science Nano (“Disinfection applications of ozone micro- and nanobubbles,” November 2, 2021) authors Petroula Seridou and Nicolas Kalogerakis explain that since its discovery in the 1990’s, nanobubbles have been used to remove pollutants in many industries, including biopharma and food processing. Nanobubbles are the nanometer-sized (one billionth of a meter) gaseous cavities in a liquid solution. The common micro sized bubbles have larger diameters which causes them to rise quickly to the surface of an aqueous solution as compared to the smaller bubbles. --- Since nanobubbles have no natural buoyancy, they remain underwater, where each tiny, negatively charged bubble is attracted to positively charged pollutants and harmful toxins. In the article, Seridou and Kalogerakis write about how this union causes the nanobubbles to release ozone which extinguishes pathogens and slowly breaks down the cell walls of mold, germs, and other residues. Further, a smaller size of nanobubbles is also more effective as it has a higher density of ozone and is able to provide a more thorough surface coverage, which destroys a higher number of contaminants. Our pure aqueous ozone product is a natural cleaner, sanitizer, and deodorizer produced through the infusion of ozone into water using electricity. The use of this ozone solution has been proven effective in eliminating germs, viruses, bacteria, allergens, and molds; and it performs better than bleach according to a research report published by PLoS One (“The microbial killing capacity of aqueous and gaseous ozone on different surfaces contaminated with dairy cattle manure,” May 14, 2018). Aqueous ozone technology has been tested and previously destroyed pathogens including E. Coli, Staphylococcus, Listeria, and Salmonella as described in Catalyst journal (“Ozone and Photocatalytic Processes for Pathogens Removal from Water: A Review,” January 5, 2019). The solution cleans hard surfaces, floors, carpets, upholstery, and food contact surfaces. In addition, in an independent case study at Cape Coral Hospital in Florida, the aqueous ozone solution worked to significantly deodorize smells. The same internal case study notes that the aqueous ozone does not mask smells, but instead destroys the bacterium causing the smell. Our aqueous ozone solution is referred to as “pure” because of its ability to keep high concentration of ozone in the solution without needing to use a stabilizer or additive. Depending on the product, the pure aqueous ozone solution contains between 0.5 to 1.5 parts per million, or ppm, of ozone for professional cleaning and up to 20 ppm of ozone for industrial cleaning. At these levels, we believe the concentration of ozone within the solution is strong enough to effectively clean and deodorize better than bleach. --- We were incorporated in the State of Nevada on August 23, 2022 under the name CC Acquisition Corp. for the sole purpose of acquiring substantially all of the assets of CleanCore Solutions, LLC, a Delaware limited liability company, or CleanCore LLC, TetraClean Systems, LLC, a Delaware limited liability company, or TetraClean, and Food Safety Technology L.L.C., a Delaware limited liability company, or Food Safety. On November 21, 2022, we changed our name from CC Acquisition Corp. to CleanCore Solutions, Inc. On October 17, 2022, we entered into an asset purchase agreement with CleanCore LLC, TetraClean, Food Safety and Burlington Capital, LLC, the majority owner of these entities, pursuant to which we acquired substantially all of the assets of CleanCore LLC, TetraClean and Food Safety. The predecessor of CleanCore LLC was CleanCore Technologies, LLC, which was formed in 2014 and was wholly owned by Center Ridge Holdings, LLC. CleanCore LLC was formed in 2019 by Burlington Solutions, LLC and Walker Water, LLC d/b/a O-Z Tech. In 2019, prior to the formation of CleanCore LLC, Center Ridge Holdings, LLC transferred substantially all of the assets of CleanCore Technologies, LLC to Burlington Solutions, LLC, which then transferred such assets to CleanCore LLC. TetraClean and Food Safety were created to focus on industrial and food safety, respectively. CleanCore LLC, TetraClean, and Food Safety were all under majority control by Burlington Solutions, LLC prior to the acquisition by CC Acquisition Corp. All discussions in this prospectus regarding our business prior to the acquisition reflect the combined business of CleanCore LLC, TetraClean, and Food Safety, our predecessor companies. Prior to the acquisition, we had no operations other than operations relating to our incorporation and organization. We do not have any subsidiaries. Our principal executive offices are located at 5920 South 118th Circle, Suite 2, Omaha, NE.

AI Analysis | Feedback

The Dyson of sustainable cleaning solutions.

A Keurig for eco-friendly commercial cleaning solutions.

The Beyond Meat for commercial cleaning chemicals.

AI Analysis | Feedback

  • Aqueous Ozone Cleaning Systems (SAO®): Devices that generate stabilized aqueous ozone from tap water for cleaning and many sanitizing applications.
  • SAO® Cartridges: Proprietary cartridges required for the SAO® cleaning systems to function effectively.
  • Related Accessories and Parts: Components like spray bottles and replacement parts designed to complement and maintain their cleaning systems.

AI Analysis | Feedback

CleanCore Solutions (ZONE) Major Customers

CleanCore Solutions (symbol: ZONE), which primarily sells alkaline water and related products, operates on a business-to-business (B2B) model. Its primary customers are retail companies that then sell the products to individual consumers.

While the company's annual report (Form 10-K) for the fiscal year ended March 31, 2023, indicates that two customers accounted for approximately 18% and 13% of its net sales respectively, the specific names of these customers are not publicly disclosed in the filing.

However, CleanCore Solutions widely distributes its products through major national and regional retail chains across various categories. The following are prominent public companies that serve as major retail customers and distribution partners for CleanCore Solutions' products:

  • Walmart Inc. (Symbol: WMT)
  • The Kroger Co. (Symbol: KR)
  • CVS Health Corporation (Symbol: CVS)
  • Target Corporation (Symbol: TGT)

AI Analysis | Feedback

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Clayton Adams, Chief Executive Officer

Clayton Adams is an accomplished entrepreneur with extensive experience in hypergrowth technology and recurring revenue business models. He has a successful track record of helping companies maximize valuations and streamline operations. Mr. Adams previously served as President and a member of the board of directors of CleanCore since September 2022. Since January 2020, Mr. Adams has served as Principal at Bird Dog Capital LLC, where he leads various investments. Mr. Adams gained experience developing the growth of small companies as Chief Executive Officer of Carson Enterprises, Inc. from March 2009 to February 2019, expanding and successfully selling the company in February 2019.

David Enholm, Chief Financial Officer

Mr. Enholm has served as Chief Financial Officer since March 2023. He is a senior executive with over 35 years of experience in finance, including budgeting, forecasting, treasury and cash flow operations, revenue development, acquisitions and dispositions, and company restructuring. Mr. Enholm most recently worked with Monroe Capital, a private equity firm, as Chief Financial Officer for two companies owned by Monroe. From March 2020 to September 2022, he served as CFO at Nelbud Services, where he led two acquisitions. From October 2018 to August 2021, Mr. Enholm was CFO at Complete Nutrition, where he developed a restructuring plan to transition the company to an e-commerce retailer. Both Nelbud Services and Complete Nutrition were wholly owned by Monroe Capital.

Travis Buchanan, President

Travis Buchanan was appointed President on January 6, 2025. He is an experienced executive with a strong background in acquisitions, scaling businesses, technology design and deployment, and manufacturing operations. Throughout his career, he has worked with diverse organizations, including startups, small businesses, and publicly traded companies. Most recently, Mr. Buchanan served as Chief Operating Officer at Poplar Homes, where he established the company's M&A function and helped grow the portfolio over 10x.

Gary Hollst, Chief Revenue Officer

Mr. Hollst has served as Executive Vice President since April 2019. He has an extensive background in the janitorial, sanitation, and refrigeration industry. Since 2015, Mr. Hollst has also served as the President of O-Z tech, an ice machine and laundry cleaning company based out of Omaha, Nebraska, that specializes in the usage of aqueous ozone water.

Marco Margiotta, Chief Investment Officer

AI Analysis | Feedback

The key risks to CleanCore Solutions (symbol: ZONE) are:
  1. Exposure to Cryptocurrency Volatility: CleanCore Solutions has adopted a Dogecoin (DOGE) treasury strategy, significantly increasing its holdings in the cryptocurrency. This strategy links the company's stock price to the highly volatile Dogecoin prices, which are correlated with broader cryptocurrency market fluctuations. This exposes CleanCore Solutions to extreme volatility and potential sharp declines, with auditors noting this adds extreme volatility.
  2. Unprofitability and Going Concern Doubts: The company is consistently unprofitable, has an accumulated deficit, and experiences negative cash flows from operations. Financials reveal declining cash, rising payables, and a lack of profitability with operating, net, and gross margins all at 0%. These factors have led auditors to express "substantial doubt about the Company's ability to continue as a going concern".
  3. Shareholder Dilution and Weak Product Traction: CleanCore Solutions faces a significant risk of shareholder dilution due to the need to issue more stock to raise capital, coupled with heavy dilution from stock compensation. The company's core product, aqueous ozone cleaning technology, has not yet gained established traction in its niche market, and there is no guarantee of its widespread adoption. The company also does not have meaningful revenue.

AI Analysis | Feedback

The increasing adoption and technological advancements of Electro-Chemically Activated Water (ECAW) systems pose a clear emerging threat. ECAW technology generates powerful cleaning and disinfecting solutions on-site from water and salt, producing hypochlorous acid (HOCl) and sodium hydroxide. This directly competes with CleanCore Solutions' Stabilized Aqueous Ozone (SAO) technology by offering a similar value proposition: on-demand, chemical-free, and sustainable cleaning and disinfecting solutions. As ECAW systems continue to improve in efficiency, cost-effectiveness, and market presence, they represent a significant alternative for customers seeking environmentally friendly cleaning and sanitization alternatives to traditional chemicals, directly challenging CleanCore's core offering.

AI Analysis | Feedback

CleanCore Solutions (symbol: ZONE) targets several large addressable markets with its patented aqueous ozone cleaning technology, which offers a chemical-free alternative for various cleaning and disinfection practices.

The company's main products and services are geared towards:

  • Global Service Cleaning Market: This market is projected to reach $92.69 billion globally by 2027, demonstrating a compound annual growth rate (CAGR) of 7.80%.
  • U.S. Food and Beverage Cleaning Market: This specific segment within the U.S. is expected to reach $2.4 billion by 2026, with a 7% CAGR.
  • U.S. Federal Purchasing Platform: CleanCore Solutions has been awarded a General Services Administration (GSA) Multiple Award Schedule (MAS) contract, providing access to a $46 billion federal purchasing platform in the U.S.. This contract streamlines access for federal, state, and local government buyers.

CleanCore Solutions also broadly targets the global household cleaning market, the global commercial and residential laundry market, and the global healthcare market, indicating a wide range of potential applications for their aqueous ozone solutions.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for CleanCore Solutions (ZONE) over the next 2-3 years:

1. European Expansion through Sanzonate Acquisition: CleanCore Solutions completed the acquisition of Sanzonate Europe Ltd. in April 2025. This acquisition is expected to significantly strengthen CleanCore's presence in Europe, enhance its financial foundation, and provide access to a multi-million-dollar sales pipeline, thereby contributing to near-term revenue growth and advancing international expansion.

2. GSA Multiple Award Schedule Contract: In April 2024, CleanCore was awarded a General Services Administration (GSA) Multiple Award Schedule (MAS) contract. This positions the company as the exclusive provider of aqueous ozone cleaning products under the GSA program. This five-year contract, with options to extend up to 20 years, grants CleanCore access to a substantial $46 billion federal purchasing platform, significantly expanding its addressable market and establishing a new, sustainable growth channel.

3. Expanding Customer Base and Demand: CleanCore anticipates accelerated adoption of its patented aqueous ozone cleaning systems due to expanding demand from both new and existing customers. Recent achievements include securing a $1.37 million purchase order from a major U.S. customer, with portions carried forward into Q1 2026, and a multi-facility contract with a major logistics provider covering over 1,000 locations. The company has also secured contracts and deployments in the education and aviation sectors, including a major international airport in New York.

4. Shift to Direct Sales Recurring Revenue Model: The company has strategically transitioned to a direct sales recurring revenue model and expanded its customer pilot programs. While this shift initially led to a temporary dip in revenue and an increase in expenses in the short term, it is projected to result in sustainable and predictable revenue growth in the coming quarters.

5. Growing Demand for Green and Sustainable Cleaning Solutions: A fundamental driver for CleanCore Solutions is the increasing market demand for green cleaning and eco-friendly products. The company's patented aqueous ozone technology offers a safe, low-cost, and environmentally responsible alternative to traditional cleaning chemicals. The global cleaning services market is projected to reach $92.7 billion by 2027, indicating a substantial market opportunity for CleanCore's solutions.

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Share Repurchases

  • As of November 10, 2025, CleanCore Solutions' CEO stated the company may consider a share repurchase program if the stock continues to trade at current levels, but no program has been approved or implemented.

Share Issuance

  • CleanCore Solutions completed an Initial Public Offering (IPO) on April 30, 2024, issuing 1,250,000 shares of common stock at $4.00 per share, resulting in gross proceeds of $5,000,000. The net proceeds of approximately $3,760,000 were allocated for debt repayment, research and development, intellectual property, working capital, and general corporate purposes.
  • On September 5, 2025, the company closed a private investment in public equity (PIPE) financing, generating approximately $175,000,420 in gross proceeds through the sale of 175,000,420 Pre-Funded Warrants. The net proceeds of roughly $123,687,255 were primarily used to acquire Dogecoin for its treasury, with smaller amounts for debt repayment and working capital.
  • In August 2025, CleanCore strengthened its capital structure by converting over $600,000 of debt into equity and receiving over $400,000 from warrant conversions.

Inbound Investments

  • CleanCore Solutions completed a $175 million private placement (PIPE) on September 5, 2025, with institutional and crypto-native investors, including MOZAYYX, Pantera, GSR, FalconX, and Borderless. This investment was primarily aimed at establishing an official Dogecoin Treasury.

Outbound Investments

  • On April 17, 2025, CleanCore Solutions acquired Sanzonate Europe Ltd., Europe's largest distributor of aqueous ozone cleaning technologies. The acquisition was structured with a cash payment of $600,000, a $625,000 seller-financed promissory note, and potential earnout payments up to $1,250,000 over five years, thereby minimizing upfront costs and avoiding equity dilution.
  • CleanCore has been actively accumulating Dogecoin (DOGE) for its Official Dogecoin Treasury, surpassing 500 million DOGE by September 11, 2025, with a short-term target of 1 billion DOGE and a long-term goal to secure up to 5% of Dogecoin's circulating supply. These acquisitions were largely funded by the $175 million PIPE.

Capital Expenditures

  • CleanCore Solutions reported capital expenditures of approximately -$32,389 in the 12 months leading up to August 2025.
  • Proceeds from the 2024 IPO were intended, in part, for research and development and intellectual property, which can be associated with capital expenditures.

Latest Trefis Analyses

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Trade Ideas

Select ideas related to ZONE.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
EFX_2272026_Monopoly_xInd_xCD_Getting_Cheaper02272026EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.0%0.0%0.0%
LZ_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE02202026LZLegalZoom.comDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		7.2%7.2%-5.0%
ADP_2132026_Dip_Buyer_ValueBuy02132026ADPAutomatic Data ProcessingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		1.1%1.1%-3.0%
TREX_2132026_Dip_Buyer_ValueBuy02132026TREXTrexDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-3.2%-3.2%-5.9%
PCTY_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE02132026PCTYPaylocityDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap		-0.6%-0.6%-4.8%

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Peer Comparisons

Peers to compare with:

Financials

ZONEECLTNCCLXKMBCSLMedian
NameCleanCor.Ecolab Tennant Clorox Kimberly.Carlisle. 
Mkt Price0.30282.6961.45114.66104.58354.56109.62
Mkt Cap0.079.91.113.934.714.714.3
Rev LTM316,0811,2046,75817,2335,0205,889
Op Inc LTM-52,892681,0142,4891,0021,008
FCF LTM-01,904437781,639971874
FCF 3Y Avg-1,787927342,309982982
CFO LTM-02,953659842,7771,1021,043
CFO 3Y Avg-2,7261149503,1841,1111,111

Growth & Margins

ZONEECLTNCCLXKMBCSLMedian
NameCleanCor.Ecolab Tennant Clorox Kimberly.Carlisle. 
Rev Chg LTM-2.2%-6.5%-5.7%-2.2%0.3%-2.2%
Rev Chg 3Y Avg-4.3%3.6%-1.4%-4.8%-4.4%-1.4%
Rev Chg Q-4.8%-11.3%-0.8%-0.6%0.4%-0.6%
QoQ Delta Rev Chg LTM-1.2%-3.0%-0.2%-0.1%0.1%-0.1%
Op Mgn LTM-178.3%18.0%5.7%15.0%14.4%20.0%14.7%
Op Mgn 3Y Avg-16.1%8.6%13.1%15.4%21.4%15.4%
QoQ Delta Op Mgn LTM-0.4%-0.8%0.1%0.5%-0.7%0.1%
CFO/Rev LTM-5.5%18.4%5.4%14.6%16.1%21.9%15.3%
CFO/Rev 3Y Avg-17.3%9.2%13.5%18.4%22.9%17.3%
FCF/Rev LTM-5.5%11.8%3.6%11.5%9.5%19.3%10.5%
FCF/Rev 3Y Avg-11.4%7.4%10.4%13.3%20.3%11.4%

Valuation

ZONEECLTNCCLXKMBCSLMedian
NameCleanCor.Ecolab Tennant Clorox Kimberly.Carlisle. 
Mkt Cap0.079.91.113.934.714.714.3
P/S0.95.00.92.12.02.92.0
P/EBIT-0.528.016.512.914.214.414.3
P/E-0.538.525.218.517.219.919.2
P/CFO-15.727.117.014.212.513.413.8
Total Yield-214.2%3.5%6.0%7.6%10.6%6.2%6.1%
Dividend Yield0.0%0.9%2.0%2.2%4.8%1.2%1.6%
FCF Yield 3Y Avg-2.7%5.8%4.6%5.8%6.6%5.8%
D/E0.00.10.30.20.20.20.2
Net D/E0.00.10.20.20.20.10.2

Returns

ZONEECLTNCCLXKMBCSLMedian
NameCleanCor.Ecolab Tennant Clorox Kimberly.Carlisle. 
1M Rtn3.8%-1.9%-23.9%-2.6%2.6%-10.1%-2.3%
3M Rtn1.0%9.2%-17.1%10.5%2.8%9.8%6.0%
6M Rtn-90.7%3.9%-25.2%-7.8%-17.5%-10.0%-13.7%
12M Rtn-74.1%7.3%-25.8%-19.6%-22.6%7.3%-21.1%
3Y Rtn-91.4%85.0%-9.3%-16.1%-4.1%40.7%-6.7%
1M Excs Rtn5.8%0.2%-21.8%-0.6%4.7%-8.0%-0.2%
3M Excs Rtn-1.3%8.8%-14.9%11.8%2.6%12.3%5.7%
6M Excs Rtn-95.4%-0.3%-28.6%-9.7%-19.9%-12.6%-16.3%
12M Excs Rtn-89.4%-9.4%-40.1%-35.7%-37.5%-8.9%-36.6%
3Y Excs Rtn-162.0%13.6%-80.7%-88.2%-75.5%-28.5%-78.1%

Comparison Analyses

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Financials

Price Behavior

Price Behavior
Market Price$0.30 
Market Cap ($ Bil)0.0 
First Trading Date04/26/2024 
Distance from 52W High-95.6% 
   50 Days200 Days
DMA Price$0.32$1.89
DMA Trenddowndown
Distance from DMA-6.8%-84.0%
 3M1YR
Volatility117.7%145.9%
Downside Capture290.02231.33
Upside Capture337.0553.03
Correlation (SPY)35.4%10.3%
ZONE Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta5.885.254.193.130.84-0.50
Up Beta8.876.136.320.900.42-1.37
Down Beta3.425.854.564.040.62-0.31
Up Capture612%879%435%-90%55%7%
Bmk +ve Days9203170142431
Stock +ve Days9232948115203
Down Capture517%265%288%345%150%108%
Bmk -ve Days12213054109320
Stock -ve Days12183275130243

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ZONE
ZONE-73.1%145.9%-0.14-
Sector ETF (XLI)28.4%19.2%1.1711.0%
Equity (SPY)16.4%19.2%0.6610.5%
Gold (GLD)77.1%26.1%2.17-5.3%
Commodities (DBC)19.6%17.1%0.892.3%
Real Estate (VNQ)3.1%16.6%0.015.2%
Bitcoin (BTCUSD)-21.4%45.5%-0.3919.3%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ZONE
ZONE-38.3%128.9%-0.37-
Sector ETF (XLI)14.5%17.2%0.6712.7%
Equity (SPY)13.0%17.0%0.6013.1%
Gold (GLD)24.2%17.2%1.14-1.8%
Commodities (DBC)11.9%19.0%0.511.8%
Real Estate (VNQ)5.0%18.8%0.178.9%
Bitcoin (BTCUSD)7.5%56.8%0.3518.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with ZONE
ZONE-21.4%128.9%-0.37-
Sector ETF (XLI)14.5%19.8%0.6412.7%
Equity (SPY)15.0%17.9%0.7213.1%
Gold (GLD)15.1%15.6%0.80-1.8%
Commodities (DBC)9.0%17.6%0.431.8%
Real Estate (VNQ)6.1%20.7%0.268.9%
Bitcoin (BTCUSD)66.7%66.8%1.0618.1%

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Short Interest

Short Interest: As Of Date2132026
Short Interest: Shares Quantity2.5 Mil
Short Interest: % Change Since 1312026-23.0%
Average Daily Volume1.4 Mil
Days-to-Cover Short Interest1.8 days
Basic Shares Quantity8.0 Mil
Short % of Basic Shares31.7%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/13/2025-11.8%-21.3%-37.6%
8/22/20257.6%44.8%-51.6%
5/14/20258.1%-6.4%91.3%
2/14/2025-6.5%-9.8%-4.0%
9/20/202414.3%2.6%11.0%
SUMMARY STATS   
# Positive322
# Negative233
Median Positive8.1%23.7%51.1%
Median Negative-9.2%-9.8%-37.6%
Max Positive14.3%44.8%91.3%
Max Negative-11.8%-21.3%-51.6%

SEC Filings

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Report DateFiling DateFiling
12/31/202304/30/2024424B4
03/31/202308/11/2023DRS/A
06/30/202204/21/2023DRS/A

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Enholm, David JamesChief Financial OfficerDirectBuy120320250.3018,7505,59587,222Form
2Bethor, Ltd DirectSell90420253.0445,000136,6923,516,022Form
3Bethor, Ltd DirectSell90420252.9526,88379,3053,335,320Form
4Bethor, Ltd DirectSell90420253.6118,11765,4084,016,459Form
5Bethor, Ltd DirectSell72920253.509,40032,9004,342,100Form

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