NT$92.70 ($2.92)

-0.30 (-0.32%)

Weekly Expected Move ±0.8%

NT$91 NT$92 NT$93 NT$93 NT$94

TWO · Technology · Software - Application · Tech Score Neutral · Power 40 · NT$7.0B mcap · 66M float · 0.190% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A+

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. 5403.TWO receives an overall rating of A+. Strongest factors: DCF (5/5), ROE (5/5), ROA (5/5), P/E (4/5).

Rating Change History

Date	From	To
2026-10-01	S-	A+
2026-08-19	A+	S-
2026-08-03	S-	A+
2026-07-01	A+	S-
2026-05-11	S-	A+
2026-04-30	A+	S-
2026-04-20	A	A+
2026-04-10	A+	A
2026-02-23	None	ADDED
2026-02-16	EXISTED	None

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 61 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. 5403.TWO scores highest in Safety (100/100) and lowest in Growth (37/100). An overall grade of A places 5403.TWO among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

4.07

Safe Zone

Piotroski F-Score

4/9

✓ ✓ ✗ ✗ ✗ ✓ ✗ ✓ ✗

Beneish M-Score

-2.44

Unlikely Manipulator

Ohlson O-Score

-8.84

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AAA

Score: 95.3/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 0.97x

Accruals: 0.4%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. 5403.TWO scores 4.07, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. 5403.TWO scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. 5403.TWO's score of -2.44 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. 5403.TWO's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. 5403.TWO receives an estimated rating of AAA (score: 95.3/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). 5403.TWO's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

11.26x

PEG

-1.83x

P/S

2.07x

P/B

2.78x

P/FCF

12.37x

P/OCF

11.72x

EV/EBITDA

7.77x

EV/Revenue

1.82x

EV/EBIT

8.10x

EV/FCF

10.80x

Earnings Yield

8.75%

FCF Yield

8.09%

Shareholder Yield

8.22%

Graham Number

$77.99

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 11.3x earnings, 5403.TWO trades at a reasonable valuation. An earnings yield of 8.8% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $77.99 per share, 19% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.792

NI / EBT

Interest Burden

1.025

EBT / EBIT

EBIT Margin

0.224

EBIT / Rev

Asset Turnover

0.755

Rev / Assets

Equity Multiplier

1.797

Assets / Equity

ROE

24.7%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. 5403.TWO's ROE of 24.7% is driven by Asset Turnover (0.755), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

8.02%

Fair P/E

24.54x

Intrinsic Value

$198.73

Price/Value

0.47x

Margin of Safety

53.45%

Premium

-53.45%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with 5403.TWO's realized 8.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. 5403.TWO trades at a -53% premium to its adjusted intrinsic value of $198.73, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 24.5x compares to the current market P/E of 11.3x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$92.70

Median 1Y

$111.65

5th Pctile

$81.14

95th Pctile

$153.72

Ann. Volatility

19.9%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	8.3%	16.1%	23.4%	29.3%	27.1%	30.8%	26.4%	23.4%	24.4%	28.8%	27.4%	25.7%	23.2%	25.4%	24.7%	24.69%
ROA	3.3%	5.7%	11.8%	17.8%	12.6%	12.7%	13.3%	14.1%	13.5%	13.9%	14.6%	15.1%	13.1%	12.3%	13.7%	13.74%
ROIC	10.3%	22.5%	43.7%	39.7%	45.8%	56.4%	39.7%	25.8%	40.4%	53.4%	37.0%	33.8%	49.3%	65.5%	35.9%	35.90%
ROCE	7.9%	15.5%	23.3%	29.7%	25.2%	27.6%	27.2%	25.3%	27.5%	32.2%	30.6%	28.8%	25.7%	27.9%	27.3%	27.29%
Gross Margin	45.0%	39.9%	40.1%	41.3%	37.8%	38.8%	39.9%	42.5%	36.0%	35.9%	39.6%	43.3%	38.7%	35.9%	42.4%	42.37%
Operating Margin	28.4%	23.6%	30.5%	28.1%	16.2%	20.7%	21.3%	23.8%	22.7%	20.1%	22.0%	22.5%	25.5%	17.0%	22.2%	22.24%
Net Margin	25.7%	19.9%	26.9%	23.0%	18.4%	17.8%	18.3%	19.5%	21.9%	16.7%	17.7%	18.8%	20.7%	13.9%	18.7%	18.68%
EBITDA Margin	30.0%	25.1%	22.8%	25.5%	16.8%	23.0%	24.2%	25.1%	27.1%	21.8%	22.9%	24.5%	26.2%	18.7%	23.4%	23.45%
FCF Margin	24.7%	13.3%	9.4%	6.6%	18.5%	14.9%	8.9%	11.3%	15.8%	17.0%	24.4%	23.6%	21.8%	22.2%	16.8%	16.82%
OCF Margin	25.3%	13.7%	9.9%	7.0%	18.8%	15.3%	13.3%	16.3%	20.8%	21.8%	25.5%	24.3%	22.3%	23.0%	17.7%	17.74%
ROE 3Y Avg	snapshot only															25.23%
ROA 3Y Avg	snapshot only															13.59%
ROIC 3Y Avg	snapshot only															33.81%
ROIC Economic	snapshot only															23.90%
Cash ROA	snapshot only															12.96%
Cash ROIC	snapshot only															36.42%
CROIC	snapshot only															34.53%
NOPAT Margin	snapshot only															17.49%
Pretax Margin	snapshot only															22.98%
R&D / Revenue	snapshot only															7.35%
SGA / Revenue	snapshot only															10.59%
SBC / Revenue	snapshot only															0.18%

Valuation

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	25.55	18.50	13.86	10.62	12.62	15.15	14.90	15.65	13.74	14.14	14.31	14.36	14.17	12.60	11.42	11.264
P/S Ratio	6.55	4.23	3.36	2.54	2.77	3.24	2.89	2.90	2.69	2.72	2.73	2.72	2.63	2.26	2.08	2.069
P/B Ratio	2.13	2.97	3.24	3.11	3.16	4.35	3.73	3.50	3.23	3.92	3.78	3.56	3.19	3.11	2.77	2.777
P/FCF	26.52	31.89	35.60	38.74	15.02	21.78	32.58	25.53	17.01	16.03	11.20	11.54	12.05	10.18	12.37	12.368
P/OCF	25.94	30.95	33.96	36.28	14.73	21.24	21.69	17.81	12.98	12.51	10.71	11.19	11.77	9.83	11.72	11.725
EV/EBITDA	19.01	13.53	10.91	8.86	10.36	12.90	11.37	12.09	9.18	9.56	10.23	10.22	9.07	7.75	7.77	7.766
EV/Revenue	5.70	3.74	2.84	2.29	2.32	2.83	2.54	2.69	2.30	2.36	2.49	2.47	2.17	1.80	1.82	1.817
EV/EBIT	19.97	14.29	11.50	9.27	10.28	12.70	11.16	11.88	9.43	9.85	10.57	10.57	9.38	8.06	8.10	8.099
EV/FCF	23.07	28.18	30.06	34.97	12.57	19.03	28.65	23.68	14.52	13.88	10.21	10.50	9.94	8.11	10.80	10.801
Earnings Yield	3.9%	5.4%	7.2%	9.4%	7.9%	6.6%	6.7%	6.4%	7.3%	7.1%	7.0%	7.0%	7.1%	7.9%	8.8%	8.75%
FCF Yield	3.8%	3.1%	2.8%	2.6%	6.7%	4.6%	3.1%	3.9%	5.9%	6.2%	8.9%	8.7%	8.3%	9.8%	8.1%	8.09%
Price/Tangible Book	snapshot only															2.777
EV/OCF	snapshot only															10.239
EV/Gross Profit	snapshot only															4.540
Acquirers Multiple	snapshot only															8.228
Shareholder Yield	snapshot only															8.22%
Graham Number	snapshot only															$77.99

Leverage & Solvency

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	1.38	1.29	1.39	1.67	1.60	1.45	1.50	1.80	1.70	1.45	1.67	1.78	1.85	1.52	1.71	1.714
Quick Ratio	1.05	0.98	0.93	1.02	1.03	0.89	0.89	0.98	1.08	0.91	0.99	1.02	1.30	1.05	1.03	1.034
Debt/Equity	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.002
Net Debt/Equity	-0.28	-0.35	-0.50	-0.30	-0.51	-0.55	-0.45	-0.25	-0.47	-0.53	-0.33	-0.32	-0.56	-0.63	-0.35	-0.351
Debt/Assets	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.001
Debt/EBITDA	0.59	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01	0.01	0.005
Net Debt/EBITDA	-2.85	-1.78	-2.01	-0.96	-2.02	-1.86	-1.56	-0.95	-1.58	-1.48	-0.99	-1.01	-1.92	-1.98	-1.13	-1.127
Interest Coverage	4154.74	7351.87	10266.28	14115.57	10961.05	11143.75	11701.89	11568.89	384815.50	12151.25	10072.87	7719.00	4355.19	5210.24	4942.70	4942.699
Equity Multiplier	2.54	2.80	1.98	1.64	1.83	2.11	1.99	1.69	1.79	2.05	1.77	1.71	1.77	2.07	1.82	1.824
Cash Ratio	snapshot only															0.484
Debt Service Coverage	snapshot only															5155.033
Cash to Debt	snapshot only															218.689
FCF to Debt	snapshot only															138.922
Defensive Interval	snapshot only															887.9 days

Efficiency & Turnover

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.13	0.25	0.49	0.74	0.57	0.59	0.69	0.76	0.69	0.72	0.76	0.80	0.70	0.68	0.75	0.755
Inventory Turnover	0.39	0.80	1.27	1.76	1.61	1.60	1.65	1.68	1.66	1.67	1.72	1.69	1.83	1.75	1.66	1.663
Receivables Turnover	1.61	16.25	3.95	5.90	6.11	10.51	5.80	11.37	11.13	12.15	11.60	12.28	11.66	10.99	10.45	10.452
Payables Turnover	2.20	3.54	5.56	7.04	4.94	5.29	6.63	7.40	4.45	4.90	6.02	6.74	6.00	4.98	4.40	4.395
DSO	227	22	92	62	60	35	63	32	33	30	31	30	31	33	35	34.9 days
DIO	934	456	288	208	226	229	221	217	220	218	213	216	200	208	219	219.5 days
DPO	166	103	66	52	74	69	55	49	82	74	61	54	61	73	83	83.0 days
Cash Conversion Cycle	995	375	314	218	212	194	229	200	171	174	183	191	170	168	171	171.3 days
Fixed Asset Turnover	snapshot only															3.413
Operating Cycle	snapshot only															254.4 days
Cash Velocity	snapshot only															3.777
Capital Intensity	snapshot only															1.369

Growth (YoY)

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	—	—	—	—	3.1%	1.2%	49.8%	8.7%	14.1%	15.8%	15.2%	16.4%	7.9%	0.9%	-0.1%	-0.14%
Net Income	—	—	—	—	2.5%	1.1%	19.7%	-15.8%	1.9%	4.2%	13.5%	19.1%	2.1%	-5.9%	-4.7%	-4.72%
EPS	—	—	—	—	2.6%	1.0%	18.0%	-17.2%	-0.1%	3.9%	12.9%	19.1%	-0.1%	-7.2%	-5.4%	-5.41%
FCF	—	—	—	—	2.1%	1.5%	40.6%	88.1%	-2.1%	32.1%	2.2%	1.4%	48.7%	32.1%	-31.1%	-31.14%
EBITDA	—	—	—	—	2.1%	75.1%	28.6%	-6.7%	27.6%	30.1%	25.6%	26.9%	3.1%	-4.8%	-4.1%	-4.05%
Op. Income	—	—	—	—	2.6%	99.9%	16.7%	-20.0%	3.5%	7.4%	18.4%	24.4%	10.3%	1.1%	-0.3%	-0.34%
OCF Growth	snapshot only															-30.50%
Asset Growth	snapshot only															6.86%
Equity Growth	snapshot only															3.68%
Debt Growth	snapshot only															52.54%
Shares Change	snapshot only															0.73%
Dividend Growth	snapshot only															-47.09%

Growth (CAGR)

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	—	—	—	—	—	—	—	—	—	—	—	—	72.0%	37.1%	19.9%	19.88%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	52.6%	25.0%	8.0%	8.02%
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	54.4%	26.4%	9.0%	8.98%
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	59.5%	29.4%	15.7%	15.74%
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	—	—	64.3%	33.5%	18.2%	18.25%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	59.5%	29.5%	11.3%	11.25%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	65.0%	62.8%	45.3%	45.35%
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	65.0%	63.1%	45.6%	45.64%
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	—	—	—	—	—	—	—	—	-1.7%	-0.8%	4.7%	4.70%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity 3Y	—	—	—	—	—	—	—	—	—	—	—	—	10.9%	9.6%	7.6%	7.62%
Book Value 3Y	—	—	—	—	—	—	—	—	—	—	—	—	9.6%	8.3%	6.7%	6.68%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	1.5%	1.5%	-19.6%	-19.63%

Growth Quality

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	—	—	—	—	—	—	—	—	0.86	0.91	0.96	0.96	0.79	0.78	0.82	0.821
Earnings Stability	—	—	—	—	—	—	—	—	0.77	0.81	1.00	0.00	0.64	0.57	0.74	0.743
Margin Stability	—	—	—	—	—	—	—	—	0.92	0.95	0.96	0.96	0.93	0.95	0.96	0.964
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	1.00	1.00	1.00	0.50	1.00	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	—	—	—	—	—	—	—	—	0.99	0.98	0.95	0.92	0.99	0.98	0.98	0.981
Earnings Smoothness	—	—	—	—	0.00	0.31	0.82	0.83	0.98	0.96	0.87	0.83	0.98	0.94	0.95	0.952
ROE Trend	—	—	—	—	—	—	—	—	0.07	0.05	0.02	-0.01	-0.02	-0.04	-0.01	-0.015
Gross Margin Trend	—	—	—	—	—	—	—	—	-0.03	-0.03	-0.02	-0.02	-0.00	0.00	0.01	0.012
FCF Margin Trend	—	—	—	—	—	—	—	—	-0.06	0.03	0.15	0.15	0.05	0.06	0.00	0.002
Sustainable Growth Rate	4.9%	12.2%	19.9%	9.1%	10.5%	12.0%	9.1%	3.6%	6.4%	8.1%	-13.1%	5.9%	5.0%	4.3%	4.3%	4.26%
Internal Growth Rate	2.0%	4.6%	11.2%	5.8%	5.1%	5.2%	4.8%	2.2%	3.7%	4.0%	—	3.6%	2.9%	2.1%	2.4%	2.43%

Cash Flow Quality

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.99	0.60	0.41	0.29	0.86	0.71	0.69	0.88	1.06	1.13	1.34	1.28	1.20	1.28	0.97	0.974
FCF/OCF	0.98	0.97	0.95	0.94	0.98	0.98	0.67	0.70	0.76	0.78	0.96	0.97	0.98	0.97	0.95	0.948
FCF/Net Income	snapshot only															0.924
OCF/EBITDA	snapshot only															0.758
CapEx/Revenue	0.6%	0.4%	0.5%	0.4%	0.4%	0.4%	4.4%	4.9%	4.9%	4.8%	1.1%	0.7%	0.5%	0.8%	0.9%	0.92%
CapEx/Depreciation	snapshot only															0.957
Accruals Ratio	0.00	0.02	0.07	0.13	0.02	0.04	0.04	0.02	-0.01	-0.02	-0.05	-0.04	-0.03	-0.03	0.00	0.004
Sloan Accruals	snapshot only															0.029
Cash Flow Adequacy	snapshot only															1.109
Earnings Quality Score	snapshot only															0.750

Dividends & Buybacks

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	1.6%	1.3%	1.1%	6.5%	4.8%	4.0%	4.4%	5.4%	5.4%	5.1%	10.3%	5.4%	5.5%	6.6%	7.2%	7.01%
Dividend/Share	$0.95	$0.96	$0.96	$5.99	$5.01	$4.95	$4.96	$6.10	$6.06	$6.07	$12.66	$6.60	$6.42	$6.48	$6.70	$6.50
Payout Ratio	41.3%	24.0%	14.9%	69.0%	61.1%	61.0%	65.4%	84.8%	73.9%	72.0%	1.5%	77.0%	78.4%	82.9%	82.8%	82.75%
FCF Payout Ratio	42.8%	41.3%	38.4%	2.5%	72.7%	87.6%	1.4%	1.4%	91.6%	81.7%	1.2%	61.9%	66.6%	66.9%	89.6%	89.59%
Total Payout Ratio	41.3%	24.1%	15.1%	69.2%	61.3%	61.2%	65.6%	85.0%	74.3%	72.7%	1.5%	78.0%	79.2%	83.5%	93.8%	93.85%
Div. Increase Streak	0	0	0	0	1	1	1	1	1	1	1	1	1	1	0	0
Chowder Number	—	—	—	—	4.29	4.28	4.29	0.09	0.29	0.28	1.67	0.14	0.14	0.15	-0.39	-0.395
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	1.0%	0.97%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	-1.3%	-1.1%	-1.2%	-1.2%	0.0%	0.0%	0.0%	0.0%	-1.3%	-1.5%	-0.7%	-0.71%
Total Shareholder Return	1.6%	1.3%	1.1%	6.5%	3.5%	2.9%	3.2%	4.2%	5.4%	5.1%	10.4%	5.4%	4.3%	5.1%	6.5%	6.54%

DuPont Factors

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.88	0.86	0.87	0.85	0.90	0.89	0.86	0.86	0.80	0.80	0.81	0.81	0.80	0.80	0.79	0.792
Interest Burden (EBT/EBIT)	1.03	1.01	1.13	1.13	1.08	1.08	0.99	0.95	1.01	1.01	1.01	1.00	1.01	1.01	1.02	1.025
EBIT Margin	0.29	0.26	0.25	0.25	0.23	0.22	0.23	0.23	0.24	0.24	0.24	0.23	0.23	0.22	0.22	0.224
Asset Turnover	0.13	0.25	0.49	0.74	0.57	0.59	0.69	0.76	0.69	0.72	0.76	0.80	0.70	0.68	0.75	0.755
Equity Multiplier	2.54	2.80	1.98	1.64	2.15	2.43	1.99	1.67	1.81	2.08	1.88	1.70	1.78	2.06	1.80	1.797

Per Share

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$2.30	$4.00	$6.42	$8.68	$8.20	$8.12	$7.58	$7.19	$8.19	$8.43	$8.56	$8.56	$8.19	$7.82	$8.10	$8.10
Book Value/Share	$27.68	$24.92	$27.50	$29.68	$32.79	$28.23	$30.27	$32.13	$34.88	$30.40	$32.43	$34.59	$36.41	$31.69	$33.38	$33.38
Tangible Book/Share	$27.66	$24.89	$27.48	$29.63	$32.76	$28.19	$30.24	$32.11	$34.84	$30.35	$32.40	$34.58	$36.40	$31.62	$33.31	$33.31
Revenue/Share	$8.98	$17.49	$26.50	$36.32	$37.32	$37.93	$39.13	$38.86	$41.76	$43.76	$44.85	$45.23	$44.09	$43.55	$44.47	$44.47
FCF/Share	$2.22	$2.32	$2.50	$2.38	$6.89	$5.65	$3.47	$4.41	$6.61	$7.43	$10.94	$10.66	$9.63	$9.69	$7.48	$7.48
OCF/Share	$2.27	$2.39	$2.62	$2.54	$7.03	$5.79	$5.21	$6.32	$8.67	$9.52	$11.44	$10.99	$9.85	$10.04	$7.89	$7.89
Cash/Share	$9.25	$8.62	$13.86	$8.98	$16.87	$15.50	$13.65	$8.16	$16.52	$16.02	$10.84	$11.15	$20.33	$20.10	$11.77	$11.77
EBITDA/Share	$2.69	$4.84	$6.89	$9.39	$8.36	$8.33	$8.74	$8.63	$10.46	$10.79	$10.92	$10.95	$10.55	$10.13	$10.40	$10.40
Debt/Share	$1.58	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.04	$0.04	$0.08	$0.07	$0.06	$0.05	$0.05
Net Debt/Share	$-7.67	$-8.62	$-13.86	$-8.98	$-16.87	$-15.50	$-13.65	$-8.16	$-16.52	$-15.99	$-10.80	$-11.08	$-20.27	$-20.04	$-11.72	$-11.72

Academic Models

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.075
Altman Z-Prime	snapshot only															7.537
Piotroski F-Score	3	3	3	3	7	5	5	5	5	5	6	6	6	4	4	4
Beneish M-Score	—	—	—	—	-2.12	-2.13	-2.35	-2.44	-2.44	-2.47	-2.63	-2.67	-2.62	-2.61	-2.44	-2.441
Ohlson O-Score	snapshot only															-8.845
ROIC (Greenblatt)	snapshot only															32.81%
Net-Net WC	snapshot only															$14.21
EVA	snapshot only															$425476833.84

Credit

Metric	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only															AAA
Credit Score	73.66	69.43	78.34	86.24	86.07	83.06	80.87	84.37	85.66	89.76	94.96	95.06	95.11	87.45	95.35	95.345
Credit Grade	snapshot only															1
Credit Trend	snapshot only															0.387
Implied Spread (bps)	snapshot only															50.000
Industry Credit Rank	snapshot only															90
Sector Credit Rank	snapshot only															87

5403.TWO TWO

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Sign in to InsiderStreet