NT$177.00 ($5.57)

+1.00 (+0.57%)

Weekly Expected Move ±7.0%

NT$151 NT$164 NT$176 NT$188 NT$201

TWO · Technology · Software - Infrastructure · Tech Score Neutral · Power 65 · NT$5.3B mcap · 13M float · 1.25% 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.

Oct 05, 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. 6690.TWO receives an overall rating of B. Strongest factors: ROA (4/5), P/B (4/5). Areas of concern: DCF (1/5), D/E (2/5).

Rating Change History

Date	From	To
2026-10-01	B+	B
2026-08-04	C-	B+
2026-08-03	B+	C-
2026-05-15	C-	B+
2026-04-30	B+	C-
2026-04-28	B	B+
2026-04-01	B+	B
2026-03-10	C-	B+
2026-02-26	B	C-
2026-02-23	None	ADDED

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.

★ ★ ★ ★ ★ 72 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

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. 6690.TWO scores highest in Balance Sheet (94/100) and lowest in Earnings Quality (35/100). An overall grade of A places 6690.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

2.93

Grey Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✗ ✓ ✗ ✓

Beneish M-Score

-3.29

Unlikely Manipulator

Ohlson O-Score

-10.12

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA-

Score: 84.0/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 4.06x

Accruals: -21.3%

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. 6690.TWO scores 2.93, placing it in the Grey Zone (safe > 2.99, distress < 1.81). Financial distress is possible and warrants monitoring. 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. 6690.TWO scores 7/9, signaling strong financial health across all three dimensions. 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. 6690.TWO's score of -3.29 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. 6690.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. 6690.TWO receives an estimated rating of AA- (score: 84.0/100), 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). 6690.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

16.12x

PEG

1.43x

P/S

2.03x

P/B

1.75x

P/FCF

3.94x

P/OCF

3.64x

EV/EBITDA

2.24x

EV/Revenue

1.50x

EV/EBIT

9.69x

EV/FCF

3.17x

Earnings Yield

6.76%

FCF Yield

25.36%

Shareholder Yield

3.70%

Graham Number

$157.56

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 16.1x earnings, 6690.TWO trades at a reasonable valuation. An earnings yield of 6.8% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $157.56 per share, 12% 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

0.804

NI / EBT

Interest Burden

1.012

EBT / EBIT

EBIT Margin

0.155

EBIT / Rev

Asset Turnover

0.551

Rev / Assets

Equity Multiplier

1.578

Assets / Equity

ROE

11.0%

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. 6690.TWO's ROE of 11.0% is driven by Asset Turnover (0.551), 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

11.02%

Fair P/E

30.54x

Intrinsic Value

$334.40

Price/Value

0.48x

Margin of Safety

51.56%

Premium

-51.56%

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 6690.TWO's realized 11.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. 6690.TWO trades at a -52% premium to its adjusted intrinsic value of $334.40, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 30.5x compares to the current market P/E of 16.1x.

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

$176.00

Median 1Y

$180.10

5th Pctile

$86.26

95th Pctile

$375.21

Ann. Volatility

44.5%

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	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	14.6%	10.1%	16.7%	13.1%	15.0%	13.4%	18.9%	15.3%	15.3%	15.2%	16.6%	16.7%	16.7%	10.5%	11.5%	12.1%	12.6%	10.0%	10.9%	11.0%	10.97%
ROA	10.1%	5.7%	7.4%	6.8%	9.3%	7.3%	8.7%	7.9%	8.7%	8.2%	8.8%	7.6%	7.2%	6.3%	6.7%	6.5%	6.7%	6.5%	6.8%	7.0%	6.95%
ROIC	26.4%	9.3%	10.4%	10.6%	12.2%	16.6%	16.2%	16.1%	14.8%	17.6%	18.3%	10.9%	10.5%	11.9%	13.7%	14.1%	12.9%	15.4%	18.3%	15.1%	15.06%
ROCE	19.1%	8.3%	13.7%	9.8%	11.2%	12.4%	14.2%	14.5%	14.8%	15.1%	16.4%	11.9%	11.2%	7.8%	8.6%	9.1%	9.5%	10.3%	11.2%	11.2%	11.20%
Gross Margin	42.1%	39.4%	35.0%	38.6%	37.3%	39.0%	40.2%	39.5%	39.6%	39.7%	40.4%	39.1%	42.1%	42.7%	41.5%	42.7%	41.8%	42.4%	37.5%	40.4%	40.35%
Operating Margin	12.9%	12.2%	9.2%	11.1%	13.3%	12.2%	12.2%	12.1%	13.7%	12.5%	12.5%	13.4%	14.9%	13.7%	12.9%	15.1%	15.2%	16.1%	13.1%	15.2%	15.23%
Net Margin	11.0%	10.3%	7.9%	8.7%	11.1%	10.7%	9.6%	10.2%	10.8%	10.6%	9.9%	10.6%	10.8%	10.7%	10.9%	12.6%	12.9%	13.7%	10.9%	12.9%	12.88%
EBITDA Margin	46.2%	49.8%	51.3%	51.6%	51.2%	60.7%	45.6%	46.9%	56.5%	52.3%	49.8%	60.8%	54.9%	59.2%	57.8%	61.5%	58.8%	59.5%	57.1%	93.0%	93.04%
FCF Margin	21.0%	9.6%	5.5%	22.7%	23.4%	41.6%	37.7%	35.0%	32.4%	24.7%	25.6%	-19.5%	-13.5%	11.8%	24.6%	63.2%	62.7%	49.7%	47.6%	47.4%	47.37%
OCF Margin	44.2%	38.3%	41.4%	44.5%	40.6%	53.9%	45.0%	48.3%	50.7%	46.6%	47.5%	46.6%	47.9%	69.3%	76.4%	71.1%	67.4%	52.5%	50.6%	51.3%	51.26%
ROE 3Y Avg	snapshot only																				11.89%
ROE 5Y Avg	snapshot only																				12.10%
ROA 3Y Avg	snapshot only																				6.21%
ROIC Economic	snapshot only																				9.26%
Cash ROA	snapshot only																				27.76%
Cash ROIC	snapshot only																				64.28%
CROIC	snapshot only																				59.40%
NOPAT Margin	snapshot only																				12.01%
Pretax Margin	snapshot only																				15.71%
R&D / Revenue	snapshot only																				14.18%
SGA / Revenue	snapshot only																				11.43%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	18.70	21.88	17.16	13.21	15.57	14.37	20.95	19.15	17.56	20.56	17.96	17.80	23.49	20.36	22.19	19.76	18.89	17.04	15.20	14.79	16.119
P/S Ratio	1.50	1.74	1.47	1.21	1.48	1.39	2.11	1.99	1.82	2.12	1.86	1.86	2.46	2.14	2.38	2.22	2.23	2.15	1.91	1.87	2.035
P/B Ratio	2.66	1.71	2.81	1.32	1.79	1.85	3.02	2.84	2.59	3.03	2.89	2.88	3.78	1.53	1.82	1.71	1.72	1.66	1.65	1.61	1.752
P/FCF	7.15	18.04	26.57	5.35	6.31	3.35	5.58	5.70	5.61	8.61	7.27	-9.56	-18.21	18.13	9.69	3.52	3.56	4.32	4.01	3.94	3.943
P/OCF	3.39	4.54	3.54	2.73	3.63	2.58	4.68	4.13	3.59	4.56	3.92	4.00	5.14	3.09	3.12	3.13	3.31	4.09	3.77	3.64	3.643
EV/EBITDA	6.25	5.68	4.52	2.31	2.80	2.25	3.84	3.75	3.43	3.97	3.47	3.97	5.19	2.93	3.22	2.96	3.07	2.76	2.37	2.24	2.235
EV/Revenue	1.26	1.64	1.79	1.16	1.43	1.21	2.02	1.92	1.81	2.01	1.79	2.18	2.84	1.66	1.87	1.73	1.82	1.64	1.41	1.50	1.503
EV/EBIT	11.58	15.06	16.36	10.07	12.35	10.50	16.51	15.48	14.38	15.92	14.07	16.74	21.19	12.02	13.29	11.74	12.04	10.24	8.96	9.69	9.687
EV/FCF	6.02	16.99	32.45	5.12	6.11	2.92	5.35	5.50	5.58	8.15	6.97	-11.19	-20.99	14.01	7.62	2.74	2.90	3.30	2.95	3.17	3.174
Earnings Yield	5.3%	4.6%	5.8%	7.6%	6.4%	7.0%	4.8%	5.2%	5.7%	4.9%	5.6%	5.6%	4.3%	4.9%	4.5%	5.1%	5.3%	5.9%	6.6%	6.8%	6.76%
FCF Yield	14.0%	5.5%	3.8%	18.7%	15.9%	29.9%	17.9%	17.5%	17.8%	11.6%	13.8%	-10.5%	-5.5%	5.5%	10.3%	28.4%	28.1%	23.1%	25.0%	25.4%	25.36%
PEG Ratio	snapshot only																				1.429
Price/Tangible Book	snapshot only																				1.616
EV/OCF	snapshot only																				2.933
EV/Gross Profit	snapshot only																				3.707
Acquirers Multiple	snapshot only																				10.059
Shareholder Yield	snapshot only																				3.70%
Graham Number	snapshot only																				$157.56

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	1.91	1.42	0.73	1.30	1.74	1.67	1.51	1.33	1.18	1.12	0.97	0.85	1.05	2.54	2.25	2.39	2.81	2.47	2.10	2.14	2.136
Quick Ratio	1.91	1.42	0.73	1.30	1.74	1.66	1.51	1.33	1.18	1.12	0.97	0.85	1.05	2.54	2.25	2.39	2.81	2.47	2.10	2.14	2.136
Debt/Equity	0.03	0.28	1.04	0.61	0.24	0.23	0.24	0.22	0.21	0.19	0.19	0.71	0.75	0.16	0.16	0.15	0.15	0.14	0.14	0.13	0.134
Net Debt/Equity	-0.42	-0.10	0.62	-0.06	-0.06	-0.24	-0.12	-0.10	-0.02	-0.16	-0.12	0.49	0.57	-0.35	-0.39	-0.38	-0.32	-0.39	-0.43	-0.31	-0.313
Debt/Assets	0.02	0.15	0.35	0.29	0.14	0.13	0.14	0.12	0.11	0.10	0.09	0.28	0.27	0.10	0.10	0.10	0.10	0.09	0.09	0.08	0.084
Debt/EBITDA	0.09	0.98	1.38	1.11	0.39	0.33	0.32	0.30	0.27	0.26	0.24	0.84	0.89	0.39	0.36	0.34	0.32	0.30	0.28	0.23	0.232
Net Debt/EBITDA	-1.17	-0.35	0.82	-0.10	-0.09	-0.33	-0.17	-0.14	-0.02	-0.22	-0.15	0.58	0.69	-0.86	-0.87	-0.85	-0.69	-0.86	-0.85	-0.54	-0.541
Interest Coverage	2490.81	1365.61	73.90	40.66	37.68	36.98	48.22	63.48	62.71	56.58	50.53	45.69	23.72	19.56	20.17	21.76	35.46	56.12	58.40	60.38	60.380
Equity Multiplier	1.51	1.89	2.98	2.12	1.68	1.77	1.75	1.79	1.83	1.95	2.02	2.58	2.77	1.55	1.60	1.57	1.49	1.54	1.61	1.59	1.590
Cash Ratio	snapshot only																				1.129
Debt Service Coverage	snapshot only																				261.646
Cash to Debt	snapshot only																				3.334
FCF to Debt	snapshot only																				3.036
Defensive Interval	snapshot only																				1187.4 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	1.25	0.72	0.87	0.74	0.98	0.76	0.86	0.76	0.84	0.79	0.85	0.73	0.69	0.60	0.62	0.57	0.57	0.51	0.54	0.55	0.551
Inventory Turnover	347.55	456.37	—	—	—	474.55	—	24409.93	12763.46	522.32	—	28057.39	14654.31	66452.16	—	—	—	—	—	—	—
Receivables Turnover	5.70	2.77	5.19	4.26	4.44	3.24	6.26	5.38	5.08	4.77	10.83	11.33	3.33	6.69	11.33	10.92	2.52	6.71	5.57	4.97	4.969
Payables Turnover	5.69	3.44	4.53	4.99	5.59	4.13	5.16	5.18	4.67	3.88	5.36	4.73	4.00	3.76	4.62	4.78	4.54	4.08	4.59	4.96	4.965
DSO	64	132	70	86	82	113	58	68	72	76	34	32	110	55	32	33	145	54	66	73	73.5 days
DIO	1	1	0	0	0	1	0	0	0	1	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	64	106	81	73	65	88	71	70	78	94	68	77	91	97	79	76	80	89	80	74	73.5 days
Cash Conversion Cycle	1	27	-10	13	17	25	-12	-3	-6	-17	-34	-45	18	-42	-47	-43	65	-35	-14	-0	-0.1 days
Fixed Asset Turnover	snapshot only																				1.741
Cash Velocity	snapshot only																				1.922
Capital Intensity	snapshot only																				1.847

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	47.5%	36.2%	23.1%	12.5%	29.0%	46.5%	42.6%	39.7%	25.7%	15.1%	15.1%	16.2%	16.3%	16.4%	16.7%	15.3%	13.5%	13.3%	14.9%	14.2%	14.18%
Net Income	19.7%	5.7%	18.8%	30.7%	52.2%	78.9%	68.0%	58.5%	37.4%	22.7%	18.8%	16.7%	17.7%	18.5%	20.7%	23.9%	28.0%	35.8%	34.2%	28.1%	28.10%
EPS	17.3%	3.8%	16.5%	27.0%	19.7%	41.2%	31.9%	25.4%	36.4%	21.7%	18.8%	16.8%	14.3%	15.2%	-11.3%	-9.0%	-2.7%	4.2%	35.2%	28.7%	28.68%
FCF	-13.5%	-68.5%	-79.0%	6.7%	43.7%	5.3%	8.8%	1.2%	74.0%	-31.7%	-21.8%	-1.6%	-1.5%	-44.3%	11.9%	4.7%	6.3%	3.8%	1.2%	-14.4%	-14.37%
EBITDA	6.6%	43.0%	1.1%	3.0%	2.3%	1.7%	89.3%	42.7%	29.6%	7.8%	12.8%	24.7%	20.7%	29.9%	31.8%	22.4%	23.4%	19.2%	17.0%	31.4%	31.44%
Op. Income	29.8%	13.1%	13.7%	17.9%	39.9%	63.2%	66.2%	56.5%	37.6%	25.6%	19.5%	21.8%	24.0%	26.0%	26.3%	25.3%	21.2%	24.0%	24.7%	20.4%	20.42%
OCF Growth	snapshot only																				-17.71%
Asset Growth	snapshot only																				3.47%
Equity Growth	snapshot only																				1.96%
Debt Growth	snapshot only																				-11.16%
Shares Change	snapshot only																				-0.45%
Dividend Growth	snapshot only																				57.19%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	1.1%	55.1%	40.7%	29.2%	32.1%	35.7%	33.9%	33.4%	33.7%	31.9%	26.4%	22.2%	23.6%	25.2%	24.2%	23.2%	18.4%	14.9%	15.6%	15.2%	15.21%
Revenue 5Y	—	—	—	—	—	—	—	—	69.8%	44.5%	35.5%	28.5%	27.5%	27.3%	26.4%	26.0%	25.9%	24.8%	22.1%	19.2%	19.16%
EPS 3Y	84.4%	30.1%	15.4%	10.0%	5.6%	18.6%	26.1%	25.9%	24.2%	21.3%	22.2%	23.0%	23.1%	25.5%	11.6%	10.1%	14.9%	13.4%	12.5%	11.0%	11.02%
EPS 5Y	—	—	—	—	—	—	—	—	59.2%	30.5%	19.2%	14.3%	12.9%	18.5%	16.1%	16.2%	16.3%	16.4%	16.9%	16.9%	16.86%
Net Income 3Y	1.0%	42.6%	26.4%	20.9%	25.3%	31.9%	36.7%	37.5%	35.8%	32.4%	33.3%	34.2%	35.0%	37.5%	34.0%	31.9%	27.5%	25.4%	24.4%	22.8%	22.82%
Net Income 5Y	—	—	—	—	—	—	—	—	76.7%	44.8%	32.1%	26.8%	26.0%	27.2%	29.7%	30.3%	30.4%	30.1%	30.9%	30.9%	30.87%
EBITDA 3Y	1.5%	96.9%	99.3%	99.4%	1.1%	1.2%	1.0%	63.3%	65.1%	61.8%	64.1%	92.3%	72.0%	56.7%	41.2%	29.6%	24.5%	18.6%	20.3%	26.1%	26.12%
EBITDA 5Y	—	—	—	—	—	—	—	—	1.3%	86.6%	76.1%	69.8%	68.9%	72.6%	65.0%	46.1%	46.3%	45.7%	46.8%	62.8%	62.82%
Gross Profit 3Y	1.0%	53.3%	36.6%	25.6%	28.1%	30.5%	31.0%	31.0%	31.6%	31.7%	26.7%	22.6%	24.5%	26.8%	27.4%	27.4%	23.2%	19.4%	17.8%	16.7%	16.69%
Gross Profit 5Y	—	—	—	—	—	—	—	—	67.9%	43.5%	34.1%	27.2%	27.1%	26.7%	26.4%	26.7%	26.3%	26.1%	23.0%	19.9%	19.92%
Op. Income 3Y	99.6%	41.1%	29.0%	21.5%	26.4%	34.1%	35.7%	36.6%	35.7%	32.4%	31.2%	31.0%	33.6%	37.2%	35.9%	33.7%	27.4%	25.2%	23.5%	22.5%	22.50%
Op. Income 5Y	—	—	—	—	—	—	—	—	72.6%	41.9%	33.7%	27.9%	28.1%	30.7%	30.4%	31.2%	30.3%	29.4%	28.9%	27.7%	27.66%
FCF 3Y	70.2%	-17.5%	-26.5%	10.1%	17.9%	54.7%	30.8%	32.1%	29.3%	10.9%	17.0%	—	—	34.0%	1.0%	73.4%	64.5%	21.9%	24.9%	27.4%	27.44%
FCF 5Y	—	—	—	—	—	—	—	—	65.3%	19.4%	24.8%	—	—	7.1%	14.4%	41.0%	40.8%	29.3%	31.8%	36.6%	36.63%
OCF 3Y	1.1%	30.1%	42.0%	36.6%	40.8%	64.8%	36.2%	43.7%	46.6%	35.3%	32.5%	26.2%	26.8%	52.5%	52.4%	44.1%	40.2%	14.0%	20.2%	17.6%	17.56%
OCF 5Y	—	—	—	—	—	—	—	—	78.9%	35.2%	40.1%	34.1%	36.9%	50.5%	41.9%	42.4%	40.8%	29.8%	27.1%	23.8%	23.82%
Assets 3Y	35.6%	56.2%	58.6%	67.1%	62.1%	36.3%	34.4%	35.2%	40.9%	39.8%	42.5%	53.0%	58.8%	30.5%	37.0%	25.2%	32.4%	31.2%	32.9%	31.0%	31.03%
Assets 5Y	—	—	—	—	—	—	—	—	43.6%	35.5%	40.5%	45.4%	52.1%	40.9%	41.0%	40.0%	40.9%	39.2%	40.8%	39.1%	39.14%
Equity 3Y	49.2%	73.0%	37.0%	74.5%	72.6%	27.5%	27.9%	28.1%	28.5%	28.3%	28.6%	29.1%	29.6%	39.4%	68.7%	38.4%	37.8%	37.4%	36.7%	36.3%	36.29%
Book Value 3Y	36.2%	57.8%	25.1%	58.8%	45.5%	14.7%	17.9%	17.3%	17.5%	17.5%	17.8%	18.3%	18.2%	27.2%	40.4%	15.5%	24.2%	24.3%	23.7%	23.2%	23.19%
Dividend 3Y	-5.2%	-5.2%	13.0%	34.1%	3.5%	22.7%	-4.9%	-42.9%	1.2%	-18.1%	-9.0%	26.4%	-14.2%	-4.3%	-12.8%	-12.5%	4.7%	5.0%	5.0%	4.9%	4.94%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	0.96	0.98	1.00	0.96	0.97	0.94	0.96	0.96	1.00	0.98	0.98	0.98	0.99	0.98	0.99	0.99	1.00	0.99	1.00	1.00	1.000
Earnings Stability	0.81	0.86	1.00	0.92	0.91	0.88	0.88	0.85	0.94	0.93	0.93	0.91	0.93	0.94	0.96	0.97	0.98	0.96	0.97	0.98	0.983
Margin Stability	0.97	0.97	0.96	0.96	0.95	0.95	0.97	0.97	0.96	0.97	0.97	0.97	0.97	0.96	0.96	0.96	0.95	0.96	0.97	0.97	0.967
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	0	0	1	1	0	0	1	1	1	0
Earnings Persistence	0.92	0.98	0.92	0.88	0.50	0.50	0.50	0.50	0.85	0.91	0.92	0.93	0.93	0.93	0.92	0.90	0.89	0.86	0.86	0.89	0.888
Earnings Smoothness	0.82	0.94	0.83	0.73	0.59	0.43	0.49	0.55	0.69	0.80	0.83	0.85	0.84	0.83	0.81	0.79	0.75	0.70	0.71	0.75	0.754
ROE Trend	-0.07	-0.05	0.03	-0.03	-0.02	0.02	-0.01	0.03	0.02	0.04	0.01	0.04	0.03	-0.06	-0.07	-0.07	-0.06	-0.01	-0.01	-0.02	-0.015
Gross Margin Trend	-0.02	-0.01	-0.02	-0.02	-0.03	-0.02	-0.00	0.00	0.01	0.01	0.01	0.01	0.02	0.03	0.02	0.03	0.02	0.02	0.01	-0.00	-0.004
FCF Margin Trend	-0.13	-0.25	-0.31	-0.07	-0.05	0.16	0.19	0.12	0.10	-0.01	0.04	-0.48	-0.41	-0.21	-0.07	0.55	0.53	0.31	0.22	0.26	0.255
Sustainable Growth Rate	5.5%	3.7%	0.9%	-5.3%	3.6%	1.3%	7.3%	12.0%	3.8%	7.2%	8.2%	8.7%	7.8%	5.1%	5.9%	6.7%	4.4%	4.1%	4.8%	5.0%	4.96%
Internal Growth Rate	3.9%	2.1%	0.4%	—	2.3%	0.7%	3.5%	6.6%	2.2%	4.1%	4.5%	4.1%	3.5%	3.2%	3.6%	3.7%	2.4%	2.7%	3.1%	3.2%	3.24%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	5.51	4.82	4.84	4.85	4.28	5.56	4.48	4.63	4.90	4.51	4.58	4.45	4.57	6.59	7.12	6.32	5.70	4.17	4.04	4.06	4.061
FCF/OCF	0.47	0.25	0.13	0.51	0.58	0.77	0.84	0.73	0.64	0.53	0.54	-0.42	-0.28	0.17	0.32	0.89	0.93	0.95	0.94	0.92	0.924
FCF/Net Income	snapshot only																				3.752
OCF/EBITDA	snapshot only																				0.762
CapEx/Revenue	23.2%	28.6%	35.8%	21.8%	17.2%	12.3%	7.3%	13.3%	18.3%	21.9%	21.9%	66.1%	61.4%	57.5%	51.8%	8.0%	4.6%	2.9%	3.0%	3.9%	3.90%
CapEx/Depreciation	snapshot only																				0.075
Accruals Ratio	-0.45	-0.22	-0.29	-0.26	-0.30	-0.33	-0.30	-0.29	-0.34	-0.29	-0.31	-0.26	-0.26	-0.35	-0.41	-0.34	-0.32	-0.20	-0.21	-0.21	-0.213
Sloan Accruals	snapshot only																				-0.282
Cash Flow Adequacy	snapshot only																				4.741
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	3.3%	2.9%	5.5%	10.6%	4.9%	6.3%	2.9%	1.1%	4.3%	2.6%	2.8%	2.7%	2.3%	2.5%	2.2%	2.3%	3.4%	3.4%	3.7%	3.7%	5.10%
Dividend/Share	$3.17	$3.14	$5.35	$8.95	$4.61	$6.30	$4.59	$1.72	$6.21	$4.46	$4.50	$4.51	$5.02	$5.00	$3.81	$3.82	$5.97	$5.99	$6.00	$6.00	$9.00
Payout Ratio	62.6%	63.3%	94.5%	1.4%	76.2%	90.1%	61.6%	21.5%	75.1%	52.4%	50.8%	48.3%	53.2%	50.9%	48.5%	44.9%	65.0%	58.7%	56.5%	54.8%	54.80%
FCF Payout Ratio	23.9%	52.2%	1.5%	56.8%	30.8%	21.0%	16.4%	6.4%	24.0%	21.9%	20.6%	—	—	45.4%	21.2%	8.0%	12.2%	14.9%	14.9%	14.6%	14.60%
Total Payout Ratio	62.6%	63.3%	94.5%	1.4%	76.2%	90.1%	61.6%	21.5%	75.1%	52.4%	50.8%	48.3%	53.2%	50.9%	48.5%	44.9%	65.0%	58.7%	56.5%	54.8%	54.80%
Div. Increase Streak	1	1	1	1	1	1	1	0	1	0	0	0	0	0	0	1	0	1	1	1	1
Chowder Number	0.16	0.15	0.95	2.31	0.90	1.61	0.12	-0.75	0.40	-0.26	0.01	1.65	-0.14	0.18	0.17	0.17	0.60	0.60	0.60	0.60	0.602
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	0.0%	0.0%	0.0%	-32.4%	-23.0%	-21.5%	-13.8%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-34.7%	-30.3%	-31.5%	-30.5%	0.0%	0.0%	0.0%	0.00%
Total Shareholder Return	3.3%	2.9%	5.5%	-21.8%	-18.1%	-15.2%	-10.9%	1.1%	4.3%	2.6%	2.8%	2.7%	2.3%	-32.2%	-28.1%	-29.2%	-27.1%	3.4%	3.7%	3.7%	3.70%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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)	0.73	0.73	0.79	0.82	0.82	0.83	0.81	0.82	0.81	0.82	0.82	0.81	0.81	0.80	0.80	0.80	0.80	0.80	0.80	0.80	0.804
Interest Burden (EBT/EBIT)	1.01	1.01	0.99	0.97	0.99	1.01	1.01	1.02	1.01	1.00	1.00	0.99	0.97	0.96	0.95	0.95	0.97	0.98	1.00	1.01	1.012
EBIT Margin	0.11	0.11	0.11	0.12	0.12	0.12	0.12	0.12	0.13	0.13	0.13	0.13	0.13	0.14	0.14	0.15	0.15	0.16	0.16	0.16	0.155
Asset Turnover	1.25	0.72	0.87	0.74	0.98	0.76	0.86	0.76	0.84	0.79	0.85	0.73	0.69	0.60	0.62	0.57	0.57	0.51	0.54	0.55	0.551
Equity Multiplier	1.45	1.75	2.25	1.92	1.62	1.83	2.17	1.95	1.76	1.86	1.89	2.20	2.32	1.67	1.72	1.87	1.88	1.54	1.60	1.58	1.578

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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)	$5.06	$4.95	$5.66	$6.38	$6.06	$7.00	$7.46	$8.00	$8.26	$8.51	$8.86	$9.35	$9.44	$9.80	$7.86	$8.51	$9.18	$10.21	$10.63	$10.95	$10.95
Book Value/Share	$35.59	$63.49	$34.56	$63.86	$52.66	$54.44	$51.79	$53.90	$56.02	$57.81	$55.09	$57.84	$58.72	$130.81	$95.71	$98.39	$100.99	$104.51	$97.95	$100.77	$100.77
Tangible Book/Share	$29.37	$55.69	$25.47	$55.51	$46.86	$49.55	$46.96	$48.73	$51.53	$53.57	$49.11	$52.09	$53.29	$127.04	$93.36	$96.52	$99.59	$103.54	$97.25	$100.27	$100.27
Revenue/Share	$63.02	$62.44	$66.27	$69.47	$63.92	$72.19	$74.20	$76.80	$79.77	$82.39	$85.38	$89.33	$90.11	$93.22	$73.23	$75.63	$77.74	$80.99	$84.73	$86.74	$86.74
FCF/Share	$13.23	$6.01	$3.66	$15.75	$14.96	$30.03	$27.99	$26.88	$25.83	$20.34	$21.89	$-17.42	$-12.18	$11.01	$18.00	$47.77	$48.78	$40.25	$40.30	$41.09	$41.09
OCF/Share	$27.88	$23.90	$27.41	$30.93	$25.95	$38.89	$33.40	$37.06	$40.45	$38.39	$40.57	$41.61	$43.13	$64.58	$55.94	$53.79	$52.38	$42.56	$42.88	$44.47	$44.47
Cash/Share	$16.07	$23.95	$14.57	$42.37	$15.53	$25.59	$18.73	$17.30	$12.47	$20.24	$17.06	$12.61	$10.07	$66.03	$52.69	$52.64	$46.78	$55.75	$56.63	$45.12	$45.12
EBITDA/Share	$12.76	$17.96	$26.22	$34.88	$32.65	$38.98	$38.98	$39.37	$42.02	$41.70	$43.96	$49.14	$49.23	$52.66	$42.59	$44.19	$46.16	$48.14	$50.16	$58.34	$58.34
Debt/Share	$1.19	$17.64	$36.09	$38.72	$12.58	$12.75	$12.28	$11.93	$11.52	$10.94	$10.54	$41.05	$43.82	$20.75	$15.48	$15.17	$14.81	$14.52	$14.19	$13.53	$13.53
Net Debt/Share	$-14.88	$-6.31	$21.52	$-3.66	$-2.95	$-12.84	$-6.45	$-5.36	$-0.95	$-9.30	$-6.53	$28.44	$33.75	$-45.28	$-37.21	$-37.47	$-31.97	$-41.23	$-42.45	$-31.59	$-31.59

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.931
Altman Z-Prime	snapshot only																				5.603
Piotroski F-Score	7	4	3	3	3	7	8	8	7	7	7	4	4	5	5	7	7	6	7	7	7
Beneish M-Score	-4.31	-2.34	-2.60	-2.61	-2.60	-3.77	-3.70	-3.73	-3.66	-3.28	-3.36	-3.15	-2.87	-3.64	-3.95	-3.86	-4.03	-3.27	-3.21	-3.29	-3.287
Ohlson O-Score	snapshot only																				-10.121
ROIC (Greenblatt)	snapshot only																				14.14%
Net-Net WC	snapshot only																				$25.95
EVA	snapshot only																				$105050147.25

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	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																				AA-
Credit Score	95.58	75.91	53.19	68.24	83.56	84.52	90.80	91.14	87.65	89.01	84.03	65.02	66.84	82.84	83.02	83.59	88.17	88.47	82.71	84.02	84.016
Credit Grade	snapshot only																				4
Credit Trend	snapshot only																				0.423
Implied Spread (bps)	snapshot only																				100.000
Industry Credit Rank	snapshot only																				79
Sector Credit Rank	snapshot only																				69

6690.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

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