Deep dive · Cboe US: PINC
PGIM Securitized Income ETF stock analysis
Everything behind the call on PGIM Securitized Income ETF. 6 sections, ordered the way risk stacks up: survival first, quality and price in the middle, context last. The Beacon gives you the read. This is where you check the work.
The five reads
Global tape
No overseas listings — PINC trades on its home exchange only.
The bottom linestart hereAs of 2026-09-25
Dividend
0.00%
A rounding error against cash — this is a capital-gains position
Risk flags
1 critical
5 checks run, 3 clear
beta 0.06 · vol 2% ann.
worst drawdown -1%
worst drawdown -1%
New to this? Every metric carries a plain-English read beside it, and an ⓘ next to a label opens the definition. Anything unfamiliar is also defined at the foot of the page under Glossary.
In one paragraphwhat the company actually does281 chars
Under normal circumstances, the fund invests at least 80% of its investable assets in securitized credit investments and other similar credit instruments, including derivative instruments that provide exposure to securitized credit investments and other similar credit instruments.
Cboe US · USDHealth Information Services
$49.29+0.02 · +0.04%CLOSED · vol 293
52-week range↑ 0% off low · ↓ 2.0% off high
$49.29now $49.29$50.29
Quote Sep 25, 2026 · time not on file
Tape 2026-09-25
Factors 2026-09-25
Tape 2026-09-25
Factors 2026-09-25
01
Survival & solvency
and 3 of 5 forensic checks clear.
↳ Plain EnglishBefore anything else: can this company pay its bills? These blocks check the balance sheet, whether your slice of ownership is being diluted, and whether the accounting looks honest.
Piotroski F-score
F 5/9WATCH
Piotroski F-score 5 of 9. Nine pass/fail tests covering profitability, leverage and operating efficiency; seven or more is strong.
Balance sheetSep 27, 2026
Solvency and liquidity ratios
Current ratioshort-term assets against short-term bills0.64×healthy >2
Debt / equityborrowings against shareholder capital0.18
Net debtborrowings in excess of cash on hand$198.28M
Your ownership stake
Share-count growth vs peersLOW DILUTION
2nd pctile
Where this name's share-count growth ranks among peers. Lower is less dilutive.
Accounting forensicsSEC filings
Red-flag x-rayGRADE B
70 / 100
1 critical · 1 watch · 3 clear of 5 scored tests
Red-flag x-ray · every check, passes included
CheckStatusValueWhat it looks for
Bankruptcy distressCRITICALZ 1.00Altman-Z in the Distress · fundamentals
Earnings manipulationCLEARM -3.10M-score in range · fundamentals
LeverageCLEARLTD/E 0.00long-term debt 0.00× equity · fundamentals
Profitability qualityWATCHF 5/9Piotroski F-score 5 of 9 · fundamentals
Filing forensicsCLEAR0 flagsno filing red flags on the latest 10-K · forensic
5 checks, 3 clear and 1 watch and 1 critical. The passes are shown because a score built from five checks means something different from one built from three.
02Refreshed · Sep 27, 2026POOR · 21/100
Business quality
2% net margin, 1% return on equity, -11% revenue growth, and capital earning 0% against a 6% cost.
↳ Plain EnglishMargins tell you how much of each sales dollar the company keeps. Return on capital tells you whether reinvesting that money creates value. Both are read against what the filings support, not against a target.
Quality score
21 / 100POOR
Profitability, growth and balance strength scored separately, then blended.
ProfitabilityRefreshed · Sep 27, 2026
Net marginOF EVERY SALES DOLLAR
2.0%
The share of revenue that survives every cost and becomes profit.
Gross marginPRICING POWER
73.4%
What is left of a sales dollar before overhead — the clearest read on pricing power.
Operating marginAFTER RUNNING COSTS
0.1%
What survives the cost of running the whole business.
Return on equityPER $1 OF EQUITY
1.3%
Annual return on each dollar of shareholder equity.
ROIC − WACC spreadDESTROYS VALUE
-6.3pp
Earns 0% on invested capital that costs about 6%. A positive spread means every retained dollar compounds rather than leaks.
Growth & relative strength
Trailing return by period
1 month-1.7%
3 months-2.0%
Year to date-1.8%
Revenue growth (YoY)SHRINKING
-10.9%
Revenue against the same period a year ago.
EPS growth (YoY)IN LINE
-78.9%
Earnings per share against a year ago. Running ahead of revenue means margins are widening.
Relative-strength rankTOP 46%
54 / 100
Where this name's 3-month return against the S&P 500 ranks across the market — a quarter's standing, not the year's.
Around earningsNov 4, 2025
P(beat next quarter)COHORT BASE RATE
79%
survivor-tilted universe (currently-listed names; large-cap-skewed coverage)
Beat rate · this nameBEAT 7–8 OF THE LAST 8
7 of 8
Its own record against consensus. 8 prints is a small sample, which is why the cohort rate above carries the probability.
Typical earnings moveData unavailableRealized move magnitudes are not published for this name yet — needs ≥8 measured prints · 0 on file.
Reaction: beat vs missData unavailableThe beat-versus-miss reaction gap is not computed for this name — undetermined — needs ≥12 measured beats.
Consensus bias1.30× COHORT
Persistent
consensus runs low for this name — it routinely clears the bar
Dividends & income
Dividend yieldforward annual
0.00%
The cash return the payment alone provides at today's price.
Cash coveragefree cash flow
>2x
Whether the payment is funded out of the cash the business generates.
Inventory ledger
Data unavailableNo inventory detail is tagged in this company's filings. The ledger needs the XBRL inventory components, which a business without physical goods does not report.
Segments & geography
Data unavailableRevenue by segment and region is not on file for this name, so product and geographic concentration are not shown.
Pattern reliability · platform-wide cohortSnapshot · Sep 27, 2026
Sideways
HorizonHigherMedianObservations
10d47%0.0%1,479,705
21d49%0.0%695,010
63d51%+0.1%220,093
slope -0.02 over 40 bars
Gravestone doji · leans bearish
HorizonHigherMedianObservations
10d50%0.0%60,935
21d50%0.0%28,564
63d49%0.0%8,998
long upper shadow
Harami cross
HorizonHigherMedianObservations
10d46%0.0%234,204
21d47%0.0%109,893
63d47%-0.2%34,646
doji inside prior body
Double top · leans bearish
HorizonHigherMedianObservations
10d50%0.0%1,216,877
21d51%+0.1%572,733
63d52%+0.3%181,607
two peaks ≈ equal — reversal if neckline breaks
Triple top · leans bearish
HorizonHigherMedianObservations
10d50%0.0%975,500
21d52%+0.2%458,215
63d54%+0.5%144,909
three peaks ≈ equal
Head and shoulders · leans bearish
HorizonHigherMedianObservations
10d49%0.0%499,633
21d51%+0.1%235,260
63d51%+0.3%74,900
head above two ≈-equal shoulders — bearish reversal
Double bottom · leans bullish
HorizonHigherMedianObservations
10d49%0.0%1,247,184
21d50%0.0%586,365
63d51%+0.3%185,394
two troughs ≈ equal — reversal if neckline breaks
Triple bottom · leans bullish
HorizonHigherMedianObservations
10d49%0.0%964,809
21d50%0.0%453,015
63d52%+0.3%142,744
three troughs ≈ equal
Descending triangle · leans bearish
HorizonHigherMedianObservations
10d47%0.0%506,531
21d48%0.0%238,519
63d49%0.0%75,354
flat support, falling resistance
52w breakdown · leans bearish
HorizonHigherMedianObservations
10d36%0.0%136,750
21d37%0.0%64,076
63d41%0.0%19,835
at/near 52-week low
Near resistance · leans bearish
HorizonHigherMedianObservations
10d51%+0.1%530,198
21d52%+0.2%248,435
63d54%+0.4%78,078
testing recent resistance
Rsi oversold · leans bullish
HorizonHigherMedianObservations
10d46%0.0%225,518
21d48%0.0%106,358
63d50%0.0%33,595
RSI 28 ≤ 30
03
Price & timing
Price $49.29, RSI 30.
↳ Plain EnglishA multiple is what the market charges for a dollar of this company's earnings, cash or revenue; the trend and the options tape say what the price is doing around it. Together they are the timing picture, not the quality one.
Momentum (RSI-14)
30COOL
030 oversold70 hot100
Where momentum sits on a 0–100 scale. Above 70 is overbought, below 30 oversold; the middle says the move has room either way.
The setup right now
Price · 75 sessions2025-11-25 → 2026-09-25
price50-day200-day
How to read this
Up 0.04% on the session.
Follow the solid line: each point is a session close. Compare it to the 50-day average — while price stays above it the short-term trend is up, and a drop below is the first structural warning.
Typical day (ATR-14)±0.2%
$0.08
The average true range — how far this stock moves on an ordinary day. It sets the scale a stop has to clear.
MACDBELOW SIGNAL
-0.04
The short-term trend against its own signal line. The sign is the read; the size is not a target.
Bollinger position16% OF RANGE
Lower band
Where price sits inside its own volatility band. The edges are where a move is stretched, not where it reverses.
20-day VWAPPRICE BELOW
$49.70
The volume-weighted average of the last month. Price above it means recent buyers are, on average, in profit.
Chandelier exitBROKEN
$49.72
A volatility-based trailing stop, set a few average ranges below the recent high.
Pivots (classic)R1 $49 · S1 $49
$49.30
The last settled session's range projected forward. Reference levels, not predictions — after a big gap they can sit on the wrong side of the price until the next close.
2026-09-29 · in 2 daysJob Openings (JOLTS)A scheduled macro release. It moves this stock independently of anything the company does.
Setup & oddsNightly
Pullback riskoverstretch read
Low0.77× segment rate · n=11,162
Historically, mid names in this tape state saw a ≥10% pullback within 63 trading days in 61% of cases (n=11,162).
Overstretchvs the 20-day mean
-1.4σ
How many standard deviations price sits from its 20-day mean. Beyond 2σ is genuinely stretched; inside it is ordinary.
Slide scorefalling-knife check
1 / 100Neutral
A composite of consecutive down days, gap risk and volume expansion. Low means any decline is orderly.
Valuation
Earnings yield vs cashBELOW CASH
-4.84pp
Cash pays more than the earnings yield today, so what you are buying is future growth rather than a current return.
Net cash per shareNET DEBT
$-2.17
Cash less every borrowing, per share. It is the part of the price that is not a claim on future profits.
Multiples
Trailing P/Eearnings already reported290.2×
Price / salesprice against revenue, before any of it becomes profit4.0×
Price / bookprice against the accounting value of the assets2.7×
EV / EBITDAthe multiple an acquirer would pay18.4×
EV / free cash flowenterprise value against the cash the business throws off13.4×
FCF yieldfree cash flow per dollar of market value7.82%
2 of the 6 priced multiples above sit in the richer half of its band. Each priced multiple is read against this stock's own history where a five-year range is on file, so the question is whether today is dear for this name rather than for the market. The multiples are computed separately from the quote above and are not re-priced as it moves, so they can lag it.
Price horizon & timingSep 25, 2026
TargetSma 50 + vwap 50
$49.69$50–$50
A zone, not a price. It is where the composer expects supply, not a forecast.
Measure from a price$
To the 50-day
+0.8%
short-term trend line · $49.67
To the composer's target
+0.8%
Sma 50 + vwap 50 · set Sep 25, 2026 · $49.69
To the 52-week high
+2.0%
highest print of the past year · $50.29
To the 52-week low
0.0%
lowest print of the past year · $49.29
A typical day (ATR)
$49.21 – $49.37
±$0.08 average true range
Type any price to re-measure every distance from it. Each row is a level this page already states somewhere else, so nothing here is a new number — and none of it is a recommendation to trade at that price.
Gamma map
Data unavailableThis name has no listed options chain, so there is no dealer gamma to map. Regime, flip level, walls and the implied move all need a chain to exist.
Options tape
Data unavailableNo options chain is connected for this ticker. Max pain, the put/call ratio, the implied move and the open-interest ladder all need the chain feed.
0413F quarterly · Form 4 dailyNET SIGNAL 0
Ownership & flow
Institutions hold 86%, short interest is 22.96% of float.
↳ Plain EnglishWho is buying and selling, and what they had to disclose. Institutions file 13F 45 days after quarter end, executives file Form 4 within two days, and Congress discloses under the STOCK Act with a 30–45 day legal lag. Every one of those is a look backwards.
Net signal
0BALANCED · 30d
1 bull / 1 bear factors. The points sum to the net beside the label; nothing here is weighted after the fact.
The QTick signalNightly
Earnings4 QUARTERS · TIMING
+2
latest EPS beat by 10%
Quality / valueTTM · CONTEXT
-2
Altman-Z in the distress zone
Signal
1 bull / 1 bear factors
Independent factors scored and netted to 0 over 30d, a balanced reading. 2 of 9 factors carried a direction; the others scored zero and do not vote. The signal describes where the data leans, not what to do about it.
Cross-category read
Data unavailableFewer independent evidence families are ready than the engine's minimum, so there is nothing to check for agreement. A cross-category read over two categories is not a read.
Wall Street
Data unavailableNo sell-side firm publishes research on this name. There is no consensus rating, no price target and no estimate revisions to weigh — for a company this size that is the norm rather than a gap in our data.
Who owns it13F quarterly · Form 4 daily
Institutional ownershipINSTITUTIONALLY HELD
85.8%
The share held by 13F filers. It describes last quarter's positioning, not today's — filings land up to 45 days after quarter end.
Insider ownershipOFFICERS & DIRECTORS
0.9%
The share held by the people running the company.
Short interest (float)CROWDED
22.96%
The share of the tradable float sold short.
Free float99% OF SHARES
81.81M
Shares actually available to trade, excluding insider and restricted holdings.
Dollar volume (ADV)83rd PCTILE
$71.54M/day
Average dollars traded per day, and where that ranks cross-sectionally. Thin liquidity is a cost you pay on the way out, not just on the way in.
Borrow feeData unavailableWe do not license securities-lending data, so the annualized cost of borrowing shares to short is not something we can show. Short interest and days-to-cover above are the closest read we can source.
The story · news & sentimentRolling window
Why it moved todayNONE
+0.04%
PINC was little changed +0.04% since the last close — no notable catalyst, and the move itself was modest.
Congress
Data unavailableNo congressional trades in this name have been disclosed under the STOCK Act. Lawmakers' disclosed trades cluster heavily in large caps, so an empty list is the usual state.
0510 graded callsORDINARY VOLATILITY
Risk & track record
Beta 0.06, 2% annual volatility, a -1% worst drawdown, and 3 of 8 risk surfaces clear.
↳ Plain EnglishWhat owning it does to a portfolio, what the model votes against, and how often our own calls have been right. Every call is graded when it resolves, and the ones still open stay visible.
Max drawdown
-1.3%WORST FALL
The deepest peak-to-trough fall in the measured window. Only hold a position you can watch do this.
What it does to a portfolio5-year window
Beta (vs the market)DAMPENS
0.06
Moves about 0.1× the market over the past year.
Annualized volatilityORDINARY
2%
How far it swings over a year, from its own realized returns.
Tactical phaseNIGHTLY READ
Neutral
Selling pressure66
Buying pressure0
Overheat0
State: neutral — No dominant short-horizon pressure in the tape.
What votes againstNightly
MedQuality / valueAltman-Z in the distress zoneTTM · -2
Signal
1 of 9 factors vote against.
Ranked by the size of each factor's own point contribution to the net signal — these are the model's stated reasons, not a written bear case. Each one is scored from the source named beside it.
Failure modes · by company type
Data unavailableFailure modes are routed per company type, and only the bank-run and crypto-treasury rulebooks are validated so far. This name routes as growth, so there is no cohort-specific checklist to run. A generic list would read as analysis without being any.
The risk case · why not to buy8 surfaces · nightly
Suggested position capmax defensible size
2.9%tail cap binds
max defensible size 2.9% - tail binds
Avoid score6-month distress
1.2%0.2× its cohort · thinnest-traded micro-caps
Observational 6-month large-drawdown risk ranking — not a forecast, not alpha. Historical distress rate for this thinnest-traded micro-caps segment: 7.8%. This name reads 0.2× that base rate.
LowDistress screenThe distress model did not score this name in the latest run, so this surface is unmeasured rather than clear.Not scored
MedPosition size, not conviction, is the binding constrainthalf-Kelly 38.6% · tail cap 2.9% · category cap 54.6%. The tail cap binds, so 2.9% is the number (n=70,004). We show which one binds rather than the friendliest.Sizing
LowLottery-ticket behaviourIts best 21-day return sits at 0.2% against a 9.6% cohort 90th-percentile threshold — below the line where forward returns have historically turned negative.Behaviour
LowCash runwayNon-burner: catastrophe rate 6.1% (n=297414).Solvency
MedPost-earnings driftMove already priced: after jumps this large, measured drift edge is zero.Timing
LowDividend riskNot scored for this name.Not scored
LowRestatement historyFiling history is not deep enough to check for restatements.Not scored
LowCrowded shortNot in a warn state: the crowded-short model only publishes when short interest and thin liquidity coincide, and neither condition is met here.Not scored
Signal
3 of 8 surfaces clear.
8 surfaces checked, 3 clear. The binding constraint is position size — the tail cap is the one that binds. Each row states which surface it is and what it measured; a surface that could not be scored says so rather than counting as clear.
Who should skip it
Skip it if any of these is you
You want income
A 0.00% yield is a rounding error against cash. This is a capital-gains position.
You'd size it like a core holding
The binding cap is 2.9% of a portfolio. Above that the tail stops being survivable.
Our track record10 resolved
Overall hit-rate10 RESOLVED
25%
Every call is timestamped and graded when it resolves.
Calls on PINC3 CORRECT
10
This name's own record, shown separately because a handful of calls is a small sample against the overall total.
0610-K disclosed linksHEALTH INFORMATION SERVICES
The wider context
5 mapped peers, 1 connection.
↳ Plain EnglishCompanies do not trade alone. This is the peer set, the supply chain that has to deliver, and the macro variables that move the stock regardless of company news.
Next macro catalyst
Job Openings (JOLTS)IN 2 DAYS
2026-09-29. A scheduled release that moves this stock independently of anything the company does.
Versus peersLatest session
Peer set · 5 names
SymbolRelationshipPriceSession
VEEVPeer$280.68+2.12%
BTSGPeer$56.59+1.02%
TEMPeer$85.01+3.37%
PMCUFPeer$114.560.00%
PMDIYPeer$23.350.00%
The mapped peer set and how each traded in the latest session. A peer moving with this name says the move is the sector's; one moving against it says the move is this company's.
Time machineHistory from 2025-11-25
Signal
Every backward window is positive.
That is the definition of a stock that has already worked, and it says nothing about the next window. What it does tell you is what a drawdown would be measured against.
Macro driversRolling window
Events · what moves this stock
Data unavailableNo scheduled report or decision has a documented read for PINC's sector yet, and there is no price history around one on file. Both fill in as the company's sector is mapped and past reports are studied.
Customer momentum
Data unavailableCustomer momentum needs listed customers that disclose a revenue dependence on this company, and none is on file. The connections below are a different map: competitors and partners, most of them curated rather than filed.
Connections1 link · 1 confirmed
Direct connections · 1 edge
CompanyRelationSessionProvenance
MDXG · Partnerpartner-0.85%Confirmed · 10K
1 of 1 edge is named in a filing; the rest come from reporting we have not matched to one yet, and are labelled as such.
Suppliers, customers & competitors
Who depends on it
MDXGPartnerpartner
Glossary · every term on this page
Survival
Altman Z
Bankruptcy-risk score. Above 3.0 is the safe band.
Piotroski F
Nine pass/fail health tests; 7 or more is strong.
Beneish M
Accrual and growth pattern screen. Clear below −2.22, watch to −1.78, elevated above; a year of very fast revenue growth lifts it by construction.
Merton DTD
Standard deviations of asset value between the company and its debt.
EDF
Default frequency calibrated on what actually happened to similar names.
Price & tape
RSI-14
Momentum gauge 0–100. Above 70 is overbought, below 30 oversold.
ATR
Average true range — the size of a typical day.
VWAP
20-day volume-weighted average price — the average paid over the last month; the page shows no intraday VWAP.
Supertrend
A trend-following stop line. A close through it flips the read.
Chandelier
A trailing stop set a few average ranges below the recent high.
Options & flow
Gamma / GEX
Dealer hedging pressure. Negative gamma amplifies moves both ways.
Call / put wall
The strikes with the heaviest open interest; they act as ceiling and floor.
Max pain
The strike where most options expire worthless.
13F · Form 4
Institutional filings, 45 days after quarter end. Insider trades, within two days.
Scoring
Composite signal
Independent factors scored and netted into one number.
Hit-rate
Share of past calls that resolved in the direction stated.
Brier score
Calibration measure. Lower means stated probabilities track reality.
HHI
Concentration 0–10,000. Above 2,500 means one segment carries the company.
EVT
Fits the tail rather than assuming a bell curve, so bad days are not understated.