UTI
Universal Technical Institute, Inc.
NYSEUSDEQUITY
Consumer Defensive
DELAYED
Sell
-31/100
Last price
19.67
▲ 0.50 (2.61%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
Overlay another symbol
Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
—
Prev close
19.17
Day high
19.71
Day low
19.05
Volume
1.05M
Market cap
$1.08B
P/E (TTM)
32.25
52W range
18.02 – 51.34
Trailing performance
Returnvs SPY
1W
+5.58%
+3.6%
1M
-11.40%
-12.6%
3M
-60.21%
-64.7%
6M
-45.80%
-64.0%
YTD
-24.72%
-39.0%
1Y
-37.12%
-53.5%
3Y
+134.73%
+52.5%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
5 more panels on UTI open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
-3.06M
Net selling
Buy transactions
8
59.84K shares
Sell transactions
5
3.12M shares
Net transactions
+13
Buys less sells
Sell : buy shares
52.1 : 1
Heavily one-sided
Insider-held shares
1.38M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 28, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 1.00K | $19.68K | Direct |
| Sep 21, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 1.00K | $19.83K | Direct |
| Aug 27, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 1.00K | $21.80K | Direct |
| Aug 25, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 1.00K | $21.77K | Direct |
| Aug 12, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 1.00K | $25.95K | Direct |
| Aug 10, 26 | DEVINCENZI ROBERT THOMAS Director |
BUY | 8.00K | $225.68K | Direct |
| Jun 29, 26 | GRANT JEROME ALAN Chief Executive Officer |
SELL | 94.50K | $3.91M | Direct |
| Jun 22, 26 | PREHN KEVIN Officer |
SELL | 4.54K | $181.80K | Direct |
| Jun 8, 26 | COLISEUM CAPITAL MANAGEMENT, L.L.C. Unknown |
SELL | 3.00M | $124.20M | Indirect |
| Jun 5, 26 | KLINE CHRISTINE Officer |
SELL | 3.50K | $155.48K | Direct |
| Jun 5, 26 | LENNOX WILLIAM J. JR. Director |
STOCK | 4.60K | $0 | Direct |
| May 22, 26 | LORENZ TRACY KAY Officer |
STOCK | 42.24K | $0 | Direct |
| May 11, 26 | SRERE LINDA J Director |
SELL | 15.00K | $548.80K | Direct |
| Mar 27, 26 | KEVANE CHRISTOPHER E Officer |
SELL | 23.65K | $888.12K | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
COLISEUM CAPITAL MANAGEMENT, L.L.C. |
Unknown | — | Sale |
DEVINCENZI ROBERT THOMAS |
Director | 153.33K | Purchase |
GRANT JEROME ALAN |
Chief Executive Officer | 335.71K | Sale |
HITCHCOCK TODD A |
Chief Operating Officer | 104.08K | Sale |
KEVANE CHRISTOPHER E |
Officer | 83.52K | Sale |
LENNOX WILLIAM J. JR. |
Director | 118.57K | Stock Gift |
SMITH LORI B |
Officer | 91.22K | Stock Award(Grant) |
SMITH SHERRELL E |
Officer | — | Sale |
SRERE LINDA J |
Director | 127.56K | Sale |
TRAMMELL KENNETH R |
Director | 136.08K | Stock Award(Grant) |
Fundamentals
Market cap$1.08B
Enterprise value$1.27B
Revenue (TTM)$883.60M
Gross profit$486.43M
EBITDA$82.27M
Net income$34.30M
EPS (TTM)$0.61
Free cash flow$-4.49M
Total cash$170.61M
Total debt$359.47M
Book value / share$6.25
Shares outstanding55.10M
Float53.80M
Short % of float12.59%
Dividend yield0.00%
Beta (5Y)1.19
Valuation & profitability ratios
Trailing P/E32.25
Forward P/E21.15
PEG ratio1.70
Price / sales—
Price / book3.15
EV / revenue1.44
EV / EBITDA15.47
Gross margin55.05%
Operating margin1.98%
Profit margin3.88%
Return on equity10.53%
Return on assets3.46%
Debt / equity104.41
Current ratio1.30
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $835.62M | $732.69M | $607.41M | $418.76M | +14.0% |
| Operating revenue | $835.62M | $732.69M | $607.41M | $418.76M | +14.0% |
| Cost of revenue | $420.49M | $384.53M | $329.87M | $207.23M | +9.4% |
| Gross profit | $415.13M | $348.16M | $277.54M | $211.53M | +19.2% |
| Selling, general & admin | $331.66M | $289.27M | $256.14M | $189.16M | +14.7% |
| Total operating expense | $331.66M | $289.27M | $256.14M | $189.16M | +14.7% |
| Operating income | $83.47M | $58.89M | $21.40M | $22.37M | +41.7% |
| Net interest income | $540.00K | -$3.16M | -$3.79M | -$1.50M | +117.1% |
| Pre-tax income | $84.27M | $56.23M | $18.09M | $20.44M | +49.9% |
| Tax provision | $21.26M | $14.23M | $5.76M | -$5.41M | +49.4% |
| Net income | $63.02M | $42.00M | $12.32M | $25.85M | +50.0% |
| Net income to common | $63.02M | $38.05M | $4.54M | $12.84M | +65.6% |
| Basic EPS | 1.16 | 0.77 | 0.13 | 0.39 | +50.6% |
| Diluted EPS | 1.13 | 0.75 | 0.13 | 0.38 | +50.7% |
| EBIT | $89.91M | $65.70M | $27.74M | $22.44M | +36.8% |
| EBITDA | $146.69M | $116.89M | $73.56M | $55.22M | +25.5% |
| Basic shares | 54.30M | 49.43M | 33.98M | 33.22M | +9.9% |
| Diluted shares | 55.62M | 50.85M | 34.48M | 33.74M | +9.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $127.36M | $161.90M | $151.55M | $66.45M | -21.3% |
| Cash & short-term investments | $169.15M | $161.90M | $151.55M | $95.37M | +4.5% |
| Accounts receivable | $62.59M | $35.29M | $29.62M | $18.93M | +77.4% |
| Total current assets | $246.63M | $221.95M | $204.99M | $135.95M | +11.1% |
| Property, plant & equipment | $464.71M | $423.57M | $443.00M | $346.33M | +9.7% |
| Goodwill & intangibles | $45.81M | $46.69M | $47.43M | $31.07M | -1.9% |
| Total assets | $826.14M | $744.58M | $740.68M | $552.91M | +11.0% |
| Total current liabilities | $229.67M | $204.96M | $184.70M | $137.72M | +12.1% |
| Current debt | $2.87M | $2.70M | $2.52M | $1.11M | +6.2% |
| Long-term debt | $84.23M | $123.01M | $159.60M | $66.42M | -31.5% |
| Total debt | $278.90M | $294.75M | $349.62M | $209.80M | -5.4% |
| Total liabilities | $498.03M | $484.34M | $514.72M | $337.51M | +2.8% |
| Retained earnings | $101.53M | $38.51M | $5.95M | -$1.31M | +163.6% |
| Shareholder equity | $328.11M | $260.23M | $225.97M | $215.40M | +26.1% |
| Working capital | $16.96M | $16.99M | $20.29M | -$1.77M | -0.2% |
| Net tangible assets | $282.30M | $213.54M | $178.53M | $184.32M | +32.2% |
| Shares issued | 54.51M | 53.90M | 34.16M | 33.86M | +1.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | $63.02M | $42.00M | $12.32M | $25.85M | +50.0% |
| Depreciation & amortisation | $56.78M | $51.19M | $45.82M | $32.78M | +10.9% |
| Stock-based compensation | $9.15M | $8.56M | $3.85M | $4.34M | +6.9% |
| Change in working capital | -$54.15M | -$28.28M | -$22.70M | -$18.76M | -91.5% |
| Operating cash flow | $97.33M | $85.89M | $49.15M | $46.03M | +13.3% |
| Capital expenditure | -$41.98M | -$24.30M | -$56.69M | -$79.45M | -72.8% |
| Investing cash flow | -$87.88M | -$24.00M | -$44.07M | -$134.60M | -266.1% |
| Share buybacks | $0 | -$11.50M | $0 | $0 | +100.0% |
| Dividends paid | $0 | -$1.10M | -$5.07M | -$5.16M | +100.0% |
| Financing cash flow | -$42.79M | -$51.34M | $81.85M | $12.59M | +16.7% |
| Free cash flow | $55.35M | $61.60M | -$7.54M | -$33.42M | -10.1% |
| End cash position | $134.13M | $167.47M | $156.92M | $66.45M | -19.9% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $218.91M | $221.40M | $220.84M | $222.44M | $204.30M | -1.1% |
| Operating revenue | $218.91M | $221.40M | $220.84M | $222.44M | $204.30M | -1.1% |
| Cost of revenue | $118.33M | $117.43M | $110.45M | $112.26M | $105.60M | +0.8% |
| Gross profit | $100.57M | $103.97M | $110.40M | $110.18M | $98.69M | -3.3% |
| Selling, general & admin | $97.33M | $103.63M | $94.71M | $85.20M | $84.54M | -6.1% |
| Total operating expense | $97.33M | $103.63M | $94.71M | $85.20M | $84.54M | -6.1% |
| Operating income | $3.25M | $339.00K | $15.69M | $24.99M | $14.15M | +857.2% |
| Net interest income | -$249.00K | $67.00K | $575.00K | $431.00K | $51.00K | -471.6% |
| Pre-tax income | $3.10M | $383.00K | $16.21M | $25.56M | $14.35M | +709.1% |
| Tax provision | $820.00K | -$50.00K | $3.38M | $6.80M | $3.69M | +1,740.0% |
| Net income | $2.28M | $433.00K | $12.83M | $18.76M | $10.66M | +426.3% |
| Net income to common | $2.28M | $433.00K | $12.83M | $18.76M | $10.66M | +426.3% |
| Basic EPS | 0.04 | 0.01 | 0.24 | 0.34 | 0.20 | +300.0% |
| Diluted EPS | 0.04 | 0.01 | 0.23 | 0.34 | 0.19 | +300.0% |
| EBIT | $4.11M | $1.38M | $17.18M | $26.47M | $15.75M | +198.8% |
| EBITDA | $21.22M | $17.01M | $32.46M | $41.31M | $30.24M | +24.8% |
| Basic shares | 55.08M | 55.03M | 54.57M | 54.42M | 54.41M | +0.1% |
| Diluted shares | 55.94M | 55.73M | 55.74M | 55.73M | 55.63M | +0.4% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $130.06M | $87.23M | $93.57M | $127.36M | $70.67M | +49.1% |
| Cash & short-term investments | $170.12M | $161.98M | $162.81M | $169.15M | $117.83M | +5.0% |
| Accounts receivable | $49.82M | $44.62M | $44.99M | $62.59M | $37.21M | +11.7% |
| Total current assets | $258.08M | $243.78M | $248.66M | $246.63M | $185.18M | +5.9% |
| Property, plant & equipment | $520.77M | $493.69M | $473.94M | $464.71M | $443.10M | +5.5% |
| Goodwill & intangibles | $53.99M | $49.87M | $49.48M | $45.81M | $46.03M | +8.3% |
| Total assets | $897.86M | $852.18M | $833.96M | $826.14M | $740.76M | +5.4% |
| Total current liabilities | $198.29M | $207.93M | $217.87M | $229.67M | $185.03M | -4.6% |
| Current debt | $2.99M | $2.95M | $2.90M | $2.87M | $2.82M | +1.4% |
| Long-term debt | $157.04M | $127.78M | $98.52M | $84.23M | $70.94M | +22.9% |
| Total debt | $359.47M | $316.22M | $289.57M | $278.90M | $261.00M | +13.7% |
| Total liabilities | $553.56M | $512.28M | $498.05M | $498.03M | $433.97M | +8.1% |
| Retained earnings | $117.07M | $114.79M | $114.35M | $101.53M | $82.77M | +2.0% |
| Shareholder equity | $344.31M | $339.90M | $335.91M | $328.11M | $306.79M | +1.3% |
| Working capital | $59.79M | $35.85M | $30.79M | $16.96M | $155.00K | +66.8% |
| Net tangible assets | $290.31M | $290.04M | $286.43M | $282.30M | $260.76M | +0.1% |
| Shares issued | 55.09M | 55.14M | 55.10M | 54.51M | 54.51M | -0.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | $2.28M | $433.00K | $12.83M | $18.76M | $10.66M | — | +426.3% |
| Depreciation & amortisation | $17.11M | $15.63M | $15.27M | $14.84M | $14.49M | — | +9.5% |
| Stock-based compensation | $2.97M | $3.90M | $2.56M | $2.75M | $2.66M | — | -23.9% |
| Change in working capital | -$20.04M | -$23.47M | -$37.62M | $14.85M | -$17.10M | — | +14.6% |
| Operating cash flow | $10.33M | $3.98M | $3.08M | $57.10M | $18.05M | — | +159.3% |
| Capital expenditure | -$31.48M | -$31.23M | -$22.68M | -$16.48M | -$11.21M | — | -0.8% |
| Investing cash flow | $3.71M | -$36.89M | -$46.56M | -$9.61M | -$24.29M | — | +110.1% |
| Share buybacks | — | — | — | $0 | $0 | $0 | — |
| Dividends paid | — | — | — | $0 | $0 | $0 | — |
| Financing cash flow | $28.28M | $29.05M | $6.81M | $13.23M | -$20.88M | — | -2.6% |
| Free cash flow | -$21.15M | -$27.25M | -$19.60M | $40.63M | $6.85M | — | +22.4% |
| End cash position | $135.93M | $93.61M | $97.47M | $134.13M | $73.40M | — | +45.2% |
Options analytics
Put / call volume
0.89
Call-heavy session
Put / call open interest
0.01
Positioning, not flow
Max pain
32.50
+65.2% from spot
ATM implied vol
3.1%
Nearest strike to spot
Skew (10% OTM)
0.0%
Calls bid over puts
Call volume
74
Contracts, this expiry
Put volume
66
Contracts, this expiry
Heaviest call OI
60.00
140 contracts
Heaviest put OI
32.50
2 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.02 | 0.04 | +118.2% |
| Mar 2026 | 0.00 | 0.01 | 0.0% |
| Dec 2025 | 0.14 | 0.23 | +66.3% |
| Sep 2025 | 0.26 | 0.34 | +32.5% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.33 | 6 | $235.03M | +5.7% |
| Next quarter | 0.16 | 5 | $234.85M | +6.3% |
| Current year | 0.60 | 6 | $896.20M | +7.2% |
| Next year | 0.74 | 6 | $971.88M | +8.4% |
Analyst targets & ownership
Mean target$38.83
High target$48.00
Low target$30.00
Implied upside97.42%
Analyst count6
ConsensusSTRONG BUY
Strong buy / Buy1 / 5
Hold0
Sell / Strong sell0 / 0
Held by insiders2.50%
Held by institutions108.52%
Institutions holding358
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
19.44
+1.18% from price
SMA 20
20.09
-2.09% from price
SMA 50
24.63
-20.14% from price
SMA 100
32.99
-40.38% from price
SMA 200
32.83
-40.08% from price
EMA 12
19.65
+0.08% from price
EMA 26
21.10
-6.78% from price
EMA 50
24.55
-19.87% from price
RSI (14)
38.1
Neutral
MACD (12,26,9)
-1.45
Hist 0.31
ATR (14)
1.06
5.41% of price
Realised vol 30D
40.1%
Annualised
Bollinger upper
21.85
20, 2σ
Bollinger lower
18.33
20, 2σ
50 / 200 cross
Death
24.63 vs 32.83
Trend bias
Below 200
-40.08%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.83
Less volatile than market
Correlation to SPY
0.16
Largely independent
Realised vol 30D
40.1%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-63.9%
Peak to trough
Max drawdown 5Y
-63.9%
Peak to trough
ATR 14
1.06
5.41% of price
Beta (reported)
1.19
5Y monthly, from filing
Short interest
Shares short
6.26M
Prior 5.06M
Change vs prior
+23.7%
Shorts adding
% of float
12.59%
Elevated
% of shares out
11.37%
Against total outstanding
Days to cover
3.7
Liquid
Float
53.80M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Aug 6, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| Aug 6, 26 | B. Riley Securities | MAINTAINED | Buy | Buy |
| Aug 6, 26 | Rosenblatt | MAINTAINED | Buy | Buy |
| Jun 29, 26 | Truist Securities | MAINTAINED | Buy | Buy |
| May 7, 26 | Barrington Research | MAINTAINED | Outperform | Outperform |
| May 7, 26 | Rosenblatt | MAINTAINED | Buy | Buy |
| Apr 17, 26 | Barrington Research | MAINTAINED | Outperform | Outperform |
| Feb 5, 26 | Barrington Research | MAINTAINED | Outperform | Outperform |
| Feb 5, 26 | Rosenblatt | MAINTAINED | Buy | Buy |
| Jan 21, 26 | Barrington Research | MAINTAINED | Outperform | Outperform |
| Nov 20, 25 | Barrington Research | MAINTAINED | Outperform | Outperform |
| Nov 20, 25 | Rosenblatt | MAINTAINED | Buy | Buy |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield2.62%
Payout ratio0.00%
Ex-dividend dateMar 17, 2016
Next pay dateMar 31, 2016
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-08-18
Periodic Financial Reports
10-Q · 2026-08-06
Corporate Changes & Voting Matters
8-K · 2026-08-05
Periodic Financial Reports
10-Q · 2026-05-07
Corporate Changes & Voting Matters
8-K · 2026-05-06
Corporate Changes & Voting Matters
8-K · 2026-03-18
Corporate Changes & Voting Matters
8-K · 2026-03-17
Periodic Financial Reports
10-Q · 2026-02-05
Headlines
High Demand for Skilled Trades Meets Evolving Customer Acquisition Headwinds at Universal Technical Institute (UTI)
Insider Monkey · 2d ago
myKaarma and Universal Technical Institute Announce Pilot Program at UTI-Atlanta
PR Newswire · 8d ago
Ciena upgraded, Flutter downgraded: Wall Street's top analyst calls
The Fly · 16d ago
Heartland Dental awards $34,500 in scholarships to students at Concorde Career Colleges campuses nationwide
PR Newswire · 28d ago
Universal Technical Institute, Inc. Celebrates Opening of New San Antonio Campus
PR Newswire · 35d ago
Universal Technical Institute Reaffirms 2029 Goals Despite 2026 Enrollment Headwinds
MarketBeat · 40d ago
Multiple Universal Technical Institute Campuses Recognized for Excellence and Quality Education Programs by Accrediting Commission of Career Schools and Colleges (ACCSC)
PR Newswire · 48d ago
Universal Technical Institute (UTI) Stock Dropped, So What Is Driving Attention Now?
Simply Wall St. · 48d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.