Also trades as: AIQUY (OTC) · $vol 10M · AIL.DE (XETRA) · $vol 0M · AIQUF (OTC) · $vol 0M · AI.VI (VIE) · $vol 0M

€170.16 ($191.39)

+3.72 (+2.24%)

Weekly Expected Move ±2.8%

€161 €165 €170 €175 €180

PAR · Basic Materials · Chemicals - Specialty · Tech Score Neutral · Power 44 · €108.2B mcap · 634M float · 0.135% 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 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. AI.PA receives an overall rating of B. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (1/5), P/B (2/5).

Rating Change History

Date	From	To
2026-08-28	B-	B
2026-08-10	B	B-
2026-08-03	B+	B
2026-04-07	None	ADDED
2026-04-07	EXISTED	None
2026-03-18	B	B+
2026-02-24	B+	B
2026-02-23	B	B+
2026-01-03	B+	B

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.

★ ★ ★ ★ ★ 58 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. AI.PA scores highest in Safety (100/100) and lowest in Cash Flow (41/100). An overall grade of A places AI.PA 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

4.46

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✓ ✓ ✗ ✓ ✗ ✗ ✗

Beneish M-Score

-1.93

Unlikely Manipulator

Ohlson O-Score

-9.22

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

A+

Score: 77.3/100

Trend: Deteriorating

Earnings Quality

75/100

OCF/NI: 1.67x

Accruals: -8.8%

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. AI.PA scores 4.46, 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. AI.PA scores 5/9, 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. AI.PA's score of -1.93 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. AI.PA'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. AI.PA receives an estimated rating of A+ (score: 77.3/100), with a deteriorating 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). AI.PA'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

29.14x

PEG

-17.31x

P/S

4.00x

P/B

4.09x

P/FCF

26.58x

P/OCF

9.50x

EV/EBITDA

7.88x

EV/Revenue

2.31x

EV/EBIT

11.35x

EV/FCF

30.24x

Earnings Yield

6.31%

FCF Yield

3.76%

Shareholder Yield

3.97%

Graham Number

$101.27

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 29.1x earnings, AI.PA commands a growth premium. An earnings yield of 6.3% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $101.27 per share, 68% 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

0.720

NI / EBT

Interest Burden

0.874

EBT / EBIT

EBIT Margin

0.203

EBIT / Rev

Asset Turnover

1.026

Rev / Assets

Equity Multiplier

2.073

Assets / Equity

ROE

27.2%

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. AI.PA's ROE of 27.2% is driven by Asset Turnover (1.026), 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

12.61%

Fair P/E

33.71x

Intrinsic Value

$368.87

Price/Value

0.47x

Margin of Safety

53.02%

Premium

-53.02%

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 AI.PA's realized 12.6% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. AI.PA trades at a -53% premium to its adjusted intrinsic value of $368.87, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 33.7x compares to the current market P/E of 29.1x.

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

$170.16

Median 1Y

$184.41

5th Pctile

$127.25

95th Pctile

$267.61

Ann. Volatility

20.8%

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	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
ROE	26.5%	26.6%	29.0%	30.4%	25.2%	27.0%	24.8%	25.3%	25.7%	26.5%	24.8%	25.3%	25.2%	27.5%	25.5%	26.1%	25.2%	27.1%	27.0%	27.2%	27.20%
ROA	10.4%	10.6%	11.7%	10.2%	10.1%	10.5%	10.3%	10.3%	11.1%	11.1%	11.1%	11.2%	11.7%	12.6%	12.3%	12.4%	12.6%	13.2%	13.6%	13.1%	13.12%
ROIC	12.9%	13.7%	16.4%	16.6%	17.2%	16.3%	16.1%	16.5%	19.0%	18.4%	18.4%	16.9%	19.0%	20.4%	21.5%	22.3%	20.6%	22.0%	21.6%	19.4%	19.44%
ROCE	15.4%	17.4%	18.1%	18.9%	18.4%	18.3%	18.8%	19.1%	21.0%	21.2%	20.0%	19.8%	20.5%	23.1%	23.5%	24.5%	23.8%	25.7%	24.6%	24.7%	24.67%
Gross Margin	62.8%	62.0%	62.1%	61.1%	60.1%	61.4%	64.2%	64.7%	65.1%	62.4%	57.5%	54.1%	53.6%	59.0%	60.3%	62.8%	63.2%	63.4%	36.6%	36.1%	36.09%
Operating Margin	16.2%	16.1%	13.6%	15.6%	15.7%	15.8%	18.1%	17.6%	19.4%	18.0%	17.7%	13.2%	18.9%	17.7%	19.0%	19.4%	17.8%	19.6%	21.5%	20.9%	20.92%
Net Margin	10.2%	9.0%	13.0%	10.2%	9.9%	9.7%	10.8%	10.5%	13.3%	11.4%	10.7%	9.2%	9.2%	12.3%	10.0%	12.6%	11.9%	13.1%	13.0%	13.2%	13.18%
EBITDA Margin	26.1%	24.9%	22.5%	24.4%	23.9%	25.5%	27.0%	27.4%	29.2%	27.3%	25.8%	22.8%	22.6%	26.8%	27.2%	27.4%	26.6%	28.8%	31.2%	30.5%	30.51%
FCF Margin	6.2%	5.2%	9.1%	9.9%	11.0%	11.0%	10.1%	10.0%	9.9%	10.0%	10.9%	9.7%	9.0%	9.3%	8.6%	9.9%	10.0%	9.9%	9.8%	7.6%	7.62%
OCF Margin	18.5%	17.1%	20.7%	20.9%	21.7%	21.8%	21.4%	21.9%	22.3%	23.0%	23.6%	21.9%	20.6%	20.8%	20.2%	21.6%	22.3%	22.4%	23.1%	21.3%	21.33%
ROE 3Y Avg	snapshot only																				24.73%
ROE 5Y Avg	snapshot only																				24.90%
ROA 3Y Avg	snapshot only																				11.77%
ROIC 3Y Avg	snapshot only																				13.89%
ROIC Economic	snapshot only																				19.00%
Cash ROA	snapshot only																				20.64%
Cash ROIC	snapshot only																				27.84%
CROIC	snapshot only																				9.95%
NOPAT Margin	snapshot only																				14.89%
Pretax Margin	snapshot only																				17.76%
R&D / Revenue	snapshot only																				1.32%
SGA / Revenue	snapshot only																				17.00%
SBC / Revenue	snapshot only																				0.07%

Valuation

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
P/E Ratio	8.45	9.00	8.55	8.50	8.53	9.58	13.49	12.64	12.44	13.43	13.52	12.16	12.33	12.99	15.27	14.74	13.96	15.66	13.55	15.84	29.137
P/S Ratio	0.89	0.89	0.91	0.90	0.90	1.02	1.37	1.29	1.37	1.54	1.55	1.33	1.23	1.34	1.55	1.62	1.63	1.86	1.71	2.03	4.001
P/B Ratio	1.82	2.08	2.14	2.24	2.09	2.45	3.11	3.03	3.14	3.42	3.15	2.77	2.77	3.25	3.66	3.71	3.32	4.13	3.53	4.16	4.085
P/FCF	14.40	17.31	9.93	9.10	8.17	9.28	13.60	12.87	13.91	15.46	14.17	13.70	13.78	14.32	17.91	16.27	16.33	18.87	17.42	26.58	26.580
P/OCF	4.80	5.21	4.38	4.30	4.14	4.69	6.38	5.89	6.16	6.71	6.56	6.09	6.00	6.43	7.65	7.47	7.32	8.30	7.41	9.50	9.499
EV/EBITDA	5.28	5.21	5.08	5.10	5.01	5.72	6.69	6.28	6.05	6.70	6.63	6.21	5.96	6.34	6.99	7.02	6.75	7.51	6.71	7.88	7.881
EV/Revenue	1.34	1.32	1.25	1.25	1.20	1.38	1.69	1.63	1.65	1.85	1.81	1.61	1.45	1.55	1.73	1.82	1.82	2.06	1.91	2.31	2.305
EV/EBIT	7.92	7.93	7.86	7.89	7.81	9.02	10.46	9.93	9.61	10.53	10.35	9.64	9.27	9.76	10.72	10.64	9.89	11.00	9.73	11.35	11.348
EV/FCF	21.64	25.60	13.74	12.60	10.93	12.53	16.74	16.22	16.71	18.60	16.62	16.57	16.20	16.56	20.02	18.31	18.26	20.93	19.44	30.24	30.242
Earnings Yield	11.8%	11.1%	11.7%	11.8%	11.7%	10.4%	7.4%	7.9%	8.0%	7.4%	7.4%	8.2%	8.1%	7.7%	6.5%	6.8%	7.2%	6.4%	7.4%	6.3%	6.31%
FCF Yield	6.9%	5.8%	10.1%	11.0%	12.2%	10.8%	7.4%	7.8%	7.2%	6.5%	7.1%	7.3%	7.3%	7.0%	5.6%	6.1%	6.1%	5.3%	5.7%	3.8%	3.76%
Price/Tangible Book	snapshot only																				13.296
EV/OCF	snapshot only																				10.807
EV/Gross Profit	snapshot only																				4.621
Acquirers Multiple	snapshot only																				11.557
Shareholder Yield	snapshot only																				3.97%
Graham Number	snapshot only																				$101.27

Leverage & Solvency

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Current Ratio	1.10	0.96	0.98	0.91	0.91	0.73	0.88	0.93	0.88	0.75	0.90	0.83	0.92	0.79	0.88	0.77	0.88	0.84	1.14	0.87	0.869
Quick Ratio	0.90	0.76	0.79	0.71	0.71	0.55	0.65	0.70	0.68	0.57	0.71	0.64	0.70	0.58	0.65	0.57	0.65	0.61	0.90	0.68	0.679
Debt/Equity	1.00	1.05	0.92	0.93	0.80	0.92	0.78	0.87	0.73	0.77	0.65	0.65	0.57	0.58	0.50	0.54	0.46	0.52	0.56	0.65	0.651
Net Debt/Equity	0.91	1.00	0.82	0.86	0.70	0.86	0.72	0.79	0.63	0.69	0.55	0.58	0.49	0.51	0.43	0.47	0.39	0.45	0.41	0.57	0.573
Debt/Assets	0.38	0.39	0.37	0.37	0.34	0.37	0.34	0.36	0.32	0.33	0.30	0.30	0.27	0.28	0.25	0.27	0.24	0.26	0.28	0.31	0.307
Debt/EBITDA	1.94	1.78	1.58	1.54	1.44	1.59	1.35	1.43	1.17	1.25	1.16	1.20	1.04	0.98	0.85	0.90	0.84	0.85	0.95	1.08	1.084
Net Debt/EBITDA	1.77	1.69	1.41	1.42	1.27	1.49	1.26	1.30	1.01	1.13	0.98	1.08	0.89	0.86	0.74	0.78	0.71	0.74	0.70	0.95	0.954
Interest Coverage	—	—	—	—	—	26.49	14.52	10.04	7.88	8.54	8.93	9.48	10.04	10.41	10.93	11.26	11.74	12.33	12.77	13.30	13.302
Equity Multiplier	2.64	2.67	2.51	2.52	2.36	2.49	2.31	2.40	2.26	2.29	2.18	2.17	2.09	2.09	1.99	2.02	1.93	2.01	1.98	2.12	2.122
Cash Ratio	snapshot only																				0.180
Debt Service Coverage	snapshot only																				19.155
Cash to Debt	snapshot only																				0.119
FCF to Debt	snapshot only																				0.240
Defensive Interval	snapshot only																				150.3 days

Efficiency & Turnover

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Asset Turnover	0.99	1.07	1.11	0.96	0.96	0.98	1.01	1.01	1.01	0.97	0.97	1.02	1.16	1.22	1.21	1.14	1.08	1.11	1.08	1.03	1.026
Inventory Turnover	11.75	12.19	12.47	10.64	11.50	11.14	11.47	10.58	10.71	9.97	10.64	11.43	13.78	14.19	13.82	11.98	10.19	9.73	11.27	12.82	12.821
Receivables Turnover	11.40	12.17	12.84	12.52	14.73	14.52	15.97	16.20	18.02	16.38	16.95	17.40	20.33	20.61	20.23	17.95	18.13	17.87	18.43	14.14	14.136
Payables Turnover	6.18	6.48	9.31	6.46	9.27	6.78	17.28	6.96	16.66	5.92	14.67	6.70	10.51	8.51	10.73	6.89	5.96	6.31	7.42	8.44	8.444
DSO	32	30	28	29	25	25	23	23	20	22	22	21	18	18	18	20	20	20	20	26	25.8 days
DIO	31	30	29	34	32	33	32	34	34	37	34	32	26	26	26	30	36	38	32	28	28.5 days
DPO	59	56	39	56	39	54	21	52	22	62	25	54	35	43	34	53	61	58	49	43	43.2 days
Cash Conversion Cycle	4	4	19	7	17	4	34	5	32	-3	31	-2	10	1	10	-2	-5	0	3	11	11.1 days
Fixed Asset Turnover	snapshot only																				2.052
Operating Cycle	snapshot only																				54.3 days
Cash Velocity	snapshot only																				26.415
Capital Intensity	snapshot only																				1.034

Growth (YoY)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue	11.6%	17.9%	22.2%	28.1%	20.8%	15.0%	11.6%	5.9%	2.5%	0.7%	2.1%	10.9%	25.6%	33.3%	31.3%	18.8%	2.6%	-3.5%	-6.2%	-4.0%	-4.00%
Net Income	14.1%	9.6%	19.8%	29.5%	20.6%	23.7%	6.8%	2.0%	7.6%	8.5%	15.0%	19.1%	14.0%	19.7%	16.6%	18.7%	19.8%	11.2%	16.9%	12.1%	12.12%
EPS	13.4%	6.8%	16.6%	26.0%	17.1%	23.2%	-12.3%	-7.7%	-2.2%	-1.8%	26.5%	18.5%	13.6%	31.1%	16.0%	18.3%	19.3%	0.8%	16.8%	1.8%	1.83%
FCF	74.8%	19.6%	1.7%	2.8%	1.1%	1.5%	23.1%	7.3%	-7.9%	-8.8%	10.6%	7.6%	14.1%	25.1%	4.1%	21.2%	14.5%	1.7%	6.7%	-26.3%	-26.29%
EBITDA	54.6%	62.1%	22.8%	25.9%	14.3%	9.4%	13.9%	12.2%	16.7%	15.7%	10.7%	11.1%	12.4%	17.5%	18.9%	18.4%	13.8%	8.6%	8.0%	8.5%	8.50%
Op. Income	12.6%	12.9%	9.2%	17.2%	10.1%	6.7%	17.7%	15.5%	18.9%	20.9%	13.7%	11.0%	20.3%	23.8%	24.9%	32.8%	12.0%	7.9%	6.4%	2.0%	1.98%
OCF Growth	snapshot only																				-5.24%
Asset Growth	snapshot only																				12.80%
Equity Growth	snapshot only																				7.37%
Debt Growth	snapshot only																				30.05%
Shares Change	snapshot only																				10.10%
Dividend Growth	snapshot only																				14.47%

Growth (CAGR)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue 3Y	9.8%	12.0%	13.0%	13.3%	12.7%	12.2%	12.5%	11.9%	11.4%	10.9%	11.6%	14.6%	15.9%	15.6%	14.3%	11.8%	9.7%	9.0%	7.9%	8.2%	8.15%
Revenue 5Y	17.8%	12.1%	12.5%	13.0%	12.7%	12.0%	11.5%	11.5%	10.4%	10.2%	10.4%	11.3%	13.0%	13.6%	13.8%	13.0%	12.3%	11.9%	11.4%	11.4%	11.41%
EPS 3Y	7.6%	5.8%	8.1%	8.7%	7.4%	8.0%	0.6%	6.2%	9.1%	8.9%	8.9%	11.3%	9.2%	16.6%	8.8%	9.0%	9.8%	9.1%	19.7%	12.6%	12.61%
EPS 5Y	17.5%	10.4%	11.9%	12.3%	11.7%	11.1%	5.3%	7.1%	7.4%	7.5%	7.0%	7.0%	6.6%	10.2%	8.3%	10.9%	12.0%	11.3%	11.9%	10.7%	10.66%
Net Income 3Y	11.6%	10.5%	12.8%	13.2%	12.2%	12.7%	12.0%	10.8%	14.0%	13.7%	13.7%	16.3%	13.9%	17.1%	12.7%	13.0%	13.7%	13.0%	16.2%	16.6%	16.61%
Net Income 5Y	20.3%	13.2%	14.7%	15.2%	14.7%	14.4%	12.7%	12.4%	12.5%	12.6%	12.0%	12.0%	11.6%	13.2%	13.5%	14.0%	15.1%	14.4%	14.9%	15.9%	15.94%
EBITDA 3Y	12.9%	14.1%	13.0%	13.1%	12.0%	11.8%	25.5%	26.1%	27.3%	27.1%	15.7%	16.2%	14.4%	14.1%	14.5%	13.9%	14.3%	13.9%	12.4%	12.6%	12.59%
EBITDA 5Y	20.7%	14.8%	14.5%	14.5%	13.5%	13.3%	14.2%	14.4%	13.9%	13.4%	12.7%	12.5%	13.0%	13.7%	21.1%	21.4%	21.4%	21.2%	14.7%	15.0%	15.05%
Gross Profit 3Y	11.7%	13.3%	13.9%	14.1%	13.3%	12.8%	13.3%	13.0%	13.1%	12.5%	11.9%	12.7%	12.0%	11.3%	10.6%	9.7%	9.7%	9.7%	4.9%	0.3%	0.29%
Gross Profit 5Y	23.1%	15.9%	12.8%	13.2%	12.7%	12.3%	12.3%	12.6%	11.9%	11.5%	10.8%	10.8%	11.5%	12.0%	12.3%	12.3%	12.4%	12.3%	9.5%	6.6%	6.59%
Op. Income 3Y	13.2%	13.4%	10.8%	11.8%	11.1%	10.8%	13.8%	12.5%	13.8%	13.4%	13.5%	14.6%	16.3%	16.9%	18.6%	19.4%	17.0%	17.3%	14.7%	14.6%	14.57%
Op. Income 5Y	23.2%	16.0%	14.5%	14.2%	13.1%	12.6%	13.9%	14.1%	13.7%	13.4%	12.7%	12.4%	14.5%	15.3%	15.9%	16.0%	14.7%	14.2%	14.2%	15.3%	15.28%
FCF 3Y	15.0%	3.8%	24.3%	34.8%	44.4%	49.9%	51.3%	47.4%	51.2%	38.9%	53.5%	64.3%	31.2%	41.0%	12.3%	11.9%	6.3%	5.1%	7.1%	-1.3%	-1.30%
FCF 5Y	15.7%	7.0%	20.5%	23.8%	26.9%	29.8%	30.8%	27.6%	24.6%	20.2%	21.2%	23.1%	25.9%	30.9%	31.9%	33.1%	35.2%	27.8%	32.1%	31.7%	31.71%
OCF 3Y	10.3%	9.3%	17.8%	20.6%	21.6%	21.2%	21.6%	19.6%	21.2%	20.0%	24.1%	27.8%	20.0%	23.3%	13.6%	12.9%	10.7%	10.1%	10.7%	7.2%	7.21%
OCF 5Y	21.0%	13.4%	17.9%	18.3%	18.3%	17.2%	15.9%	15.6%	14.8%	15.2%	16.3%	16.6%	17.0%	18.0%	17.9%	17.3%	18.1%	16.7%	18.2%	18.3%	18.31%
Assets 3Y	26.0%	22.9%	23.0%	19.6%	20.2%	20.3%	20.0%	20.5%	18.4%	17.8%	18.0%	4.7%	3.9%	5.1%	5.6%	6.5%	7.3%	4.2%	5.9%	8.6%	8.62%
Assets 5Y	22.1%	59.3%	20.3%	55.3%	18.1%	53.3%	16.2%	53.5%	13.7%	14.2%	16.3%	15.7%	15.4%	14.2%	13.9%	14.7%	15.4%	13.0%	12.8%	5.3%	5.31%
Equity 3Y	27.0%	20.8%	23.2%	18.8%	22.3%	19.7%	23.6%	19.9%	21.1%	18.2%	22.1%	24.3%	12.3%	14.0%	14.2%	14.7%	14.7%	11.8%	11.6%	13.2%	13.16%
Book Value 3Y	22.6%	15.7%	18.1%	14.0%	17.0%	14.7%	10.9%	14.9%	16.0%	13.3%	16.9%	18.9%	7.6%	13.6%	10.2%	10.6%	10.9%	7.9%	15.0%	9.3%	9.27%
Dividend 3Y	-5.9%	15.8%	-0.4%	-10.6%	0.9%	-11.7%	-5.3%	-0.2%	-0.3%	0.5%	-0.0%	-1.0%	-0.8%	3.8%	0.6%	2.5%	2.7%	3.3%	10.3%	4.3%	4.31%

Growth Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue Stability	0.96	0.97	0.95	0.91	0.95	0.95	0.94	0.93	0.95	0.95	0.95	0.95	0.92	0.88	0.90	0.97	0.95	0.89	0.88	0.93	0.930
Earnings Stability	0.95	0.99	0.98	0.94	0.96	0.95	0.98	0.94	0.96	0.96	0.98	0.93	0.97	0.95	0.98	0.94	0.98	0.98	0.97	0.97	0.972
Margin Stability	0.92	0.94	0.99	0.99	0.99	0.98	0.98	0.98	0.97	0.98	0.99	0.98	0.95	0.95	0.96	0.97	0.96	0.95	0.95	0.91	0.912
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	0.00	0.00	0.00	0.000
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	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.94	0.96	0.92	0.88	0.92	0.91	0.97	0.99	0.97	0.97	0.94	0.92	0.94	0.92	0.93	0.93	0.92	0.96	0.93	0.95	0.952
Earnings Smoothness	0.87	0.91	0.82	0.74	0.81	0.79	0.93	0.98	0.93	0.92	0.86	0.83	0.87	0.82	0.85	0.83	0.82	0.89	0.84	0.89	0.886
ROE Trend	-0.09	-0.07	-0.05	-0.03	-0.01	-0.00	-0.04	-0.03	0.02	0.01	-0.01	-0.02	-0.02	-0.00	0.01	0.02	-0.00	0.01	0.02	0.02	0.023
Gross Margin Trend	0.02	0.02	0.01	0.01	-0.00	-0.01	-0.00	0.00	0.02	0.02	0.00	-0.03	-0.06	-0.07	-0.05	-0.02	0.01	0.02	-0.03	-0.09	-0.091
FCF Margin Trend	0.02	0.00	0.05	0.06	0.06	0.06	0.03	0.03	0.01	0.02	0.01	-0.00	-0.01	-0.01	-0.02	0.00	0.01	0.00	0.00	-0.02	-0.022
Sustainable Growth Rate	12.7%	5.1%	14.9%	14.9%	12.5%	13.2%	11.6%	11.1%	12.1%	12.1%	11.7%	12.1%	12.2%	13.3%	12.4%	12.2%	12.2%	11.7%	12.5%	11.0%	10.97%
Internal Growth Rate	5.3%	2.0%	6.4%	5.3%	5.3%	5.4%	5.0%	4.7%	5.5%	5.3%	5.5%	5.6%	6.0%	6.5%	6.4%	6.2%	6.5%	6.0%	6.7%	5.6%	5.59%

Cash Flow Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
OCF/Net Income	1.76	1.73	1.95	1.97	2.06	2.04	2.11	2.15	2.02	2.00	2.06	2.00	2.06	2.02	1.99	1.97	1.91	1.89	1.83	1.67	1.667
FCF/OCF	0.33	0.30	0.44	0.47	0.51	0.51	0.47	0.46	0.44	0.43	0.46	0.44	0.44	0.45	0.43	0.46	0.45	0.44	0.43	0.36	0.357
FCF/Net Income	snapshot only																				0.596
OCF/EBITDA	snapshot only																				0.729
CapEx/Revenue	12.4%	12.0%	11.5%	11.0%	10.7%	10.8%	11.4%	11.9%	12.4%	13.0%	12.7%	12.1%	11.6%	11.5%	11.6%	11.9%	12.7%	12.9%	13.6%	13.8%	13.85%
CapEx/Depreciation	snapshot only																				1.550
Accruals Ratio	-0.08	-0.08	-0.11	-0.10	-0.11	-0.11	-0.11	-0.12	-0.11	-0.11	-0.12	-0.11	-0.12	-0.13	-0.12	-0.12	-0.11	-0.12	-0.11	-0.09	-0.088
Sloan Accruals	snapshot only																				-0.076
Cash Flow Adequacy	snapshot only																				0.993
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Dividend Yield	6.2%	9.0%	5.7%	6.0%	5.9%	5.3%	4.0%	4.4%	4.2%	4.1%	3.9%	4.3%	4.2%	4.0%	3.4%	3.6%	3.7%	3.6%	4.0%	3.8%	1.98%
Dividend/Share	$3.69	$5.67	$3.82	$4.22	$4.20	$4.41	$3.68	$4.31	$4.30	$4.60	$4.60	$4.76	$4.76	$5.71	$5.19	$5.70	$5.71	$6.35	$6.37	$6.53	$3.36
Payout Ratio	52.0%	81.0%	48.5%	50.9%	50.4%	51.2%	53.3%	56.2%	52.8%	54.4%	52.8%	52.4%	51.5%	51.5%	51.3%	53.1%	51.7%	56.8%	53.8%	59.7%	59.68%
FCF Payout Ratio	88.6%	1.6%	56.4%	54.4%	48.3%	49.5%	53.7%	57.2%	59.1%	62.6%	55.3%	59.1%	57.6%	56.7%	60.1%	58.6%	60.4%	68.4%	69.2%	1.0%	1.00%
Total Payout Ratio	56.9%	90.3%	52.4%	56.0%	55.5%	55.9%	58.2%	60.8%	57.1%	56.2%	54.6%	56.9%	55.8%	56.2%	55.9%	57.2%	56.6%	60.4%	57.3%	62.9%	62.89%
Div. Increase Streak	0	1	0	0	0	0	1	0	1	0	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	-0.01	0.86	0.18	-0.13	0.23	-0.17	0.21	0.17	0.17	0.19	0.18	0.15	0.15	0.17	0.17	0.24	0.24	0.26	0.27	0.30	0.298
Buyback Yield	0.6%	1.0%	0.5%	0.6%	0.6%	0.5%	0.4%	0.4%	0.3%	0.1%	0.1%	0.4%	0.4%	0.4%	0.3%	0.3%	0.4%	0.2%	0.3%	0.2%	0.20%
Net Buyback Yield	0.6%	1.0%	0.3%	0.5%	0.2%	0.1%	0.1%	0.1%	0.2%	0.1%	-0.1%	0.1%	0.1%	0.1%	0.2%	0.1%	0.2%	0.1%	0.1%	0.1%	0.07%
Total Shareholder Return	6.7%	10.0%	6.0%	6.5%	6.1%	5.4%	4.1%	4.6%	4.5%	4.1%	3.8%	4.4%	4.3%	4.1%	3.5%	3.7%	3.9%	3.7%	4.1%	3.8%	3.84%

DuPont Factors

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Tax Burden (NI/EBT)	0.69	0.68	0.79	0.78	0.80	0.81	0.72	0.72	0.74	0.74	0.74	0.73	0.71	0.72	0.72	0.73	0.73	0.73	0.73	0.72	0.720
Interest Burden (EBT/EBIT)	0.90	0.87	0.85	0.86	0.86	0.87	0.88	0.87	0.87	0.88	0.89	0.89	0.90	0.90	0.87	0.88	0.86	0.87	0.89	0.87	0.874
EBIT Margin	0.17	0.17	0.16	0.16	0.15	0.15	0.16	0.16	0.17	0.18	0.18	0.17	0.16	0.16	0.16	0.17	0.18	0.19	0.20	0.20	0.203
Asset Turnover	0.99	1.07	1.11	0.96	0.96	0.98	1.01	1.01	1.01	0.97	0.97	1.02	1.16	1.22	1.21	1.14	1.08	1.11	1.08	1.03	1.026
Equity Multiplier	2.55	2.52	2.47	2.99	2.49	2.57	2.41	2.46	2.31	2.38	2.24	2.27	2.16	2.18	2.08	2.09	2.00	2.05	1.98	2.07	2.073

Per Share

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
EPS (Diluted TTM)	$7.11	$6.99	$7.87	$8.31	$8.33	$8.62	$6.90	$7.66	$8.15	$8.46	$8.72	$9.08	$9.25	$11.10	$10.12	$10.74	$11.04	$11.18	$11.83	$10.94	$10.94
Book Value/Share	$33.04	$30.28	$31.48	$31.58	$34.08	$33.72	$29.89	$31.93	$32.30	$33.23	$37.40	$39.90	$41.19	$44.36	$42.18	$42.71	$46.45	$42.41	$45.43	$41.65	$42.82
Tangible Book/Share	$1.90	$1.21	$3.60	$3.17	$5.44	$4.22	$5.34	$5.02	$7.07	$7.36	$10.48	$10.82	$12.73	$13.89	$14.74	$14.88	$17.63	$15.82	$18.77	$13.03	$13.03
Revenue/Share	$67.58	$70.58	$74.24	$78.36	$79.26	$80.85	$68.01	$75.08	$73.86	$73.70	$76.35	$82.84	$92.45	$107.65	$99.80	$98.08	$94.54	$94.12	$93.58	$85.53	$42.48
FCF/Share	$4.17	$3.64	$6.77	$7.76	$8.70	$8.90	$6.85	$7.53	$7.28	$7.35	$8.33	$8.06	$8.28	$10.07	$8.63	$9.74	$9.44	$9.28	$9.20	$6.52	$2.39
OCF/Share	$12.52	$12.08	$15.34	$16.40	$17.19	$17.60	$14.59	$16.44	$16.45	$16.94	$17.99	$18.12	$19.02	$22.40	$20.19	$21.20	$21.06	$21.11	$21.62	$18.24	$8.42
Cash/Share	$3.01	$1.73	$3.20	$2.29	$3.31	$1.99	$1.62	$2.57	$3.12	$2.42	$3.91	$2.64	$3.32	$3.27	$2.82	$3.09	$3.31	$2.84	$6.87	$3.24	$3.24
EBITDA/Share	$17.09	$17.88	$18.32	$19.18	$18.97	$19.48	$17.14	$19.46	$20.11	$20.41	$20.87	$21.51	$22.52	$26.28	$24.70	$25.38	$25.53	$25.87	$26.65	$25.02	$25.02
Debt/Share	$33.18	$31.88	$28.99	$29.48	$27.33	$30.92	$23.18	$27.83	$23.50	$25.46	$24.32	$25.76	$23.35	$25.82	$21.01	$22.95	$21.53	$21.96	$25.43	$27.11	$27.11
Net Debt/Share	$30.17	$30.15	$25.79	$27.19	$24.02	$28.93	$21.55	$25.26	$20.38	$23.05	$20.40	$23.13	$20.03	$22.55	$18.19	$19.86	$18.22	$19.12	$18.56	$23.87	$23.87

Academic Models

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.456
Altman Z-Prime	snapshot only																				6.514
Piotroski F-Score	5	4	5	7	6	6	7	7	7	8	7	6	7	8	7	7	7	7	5	5	5
Beneish M-Score	-2.38	-2.40	-2.66	-2.98	-3.14	-3.09	-3.09	-3.29	-3.14	-3.08	-2.88	-2.42	-2.48	-2.80	-2.97	-3.21	-3.10	-3.03	-2.65	-1.93	-1.934
Ohlson O-Score	snapshot only																				-9.216
ROIC (Greenblatt)	snapshot only																				44.17%
Net-Net WC	snapshot only																				$-29.94
EVA	snapshot only																				$3937987898.17

Credit

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Credit Rating	snapshot only																				A+
Credit Score	59.51	56.21	62.01	62.67	71.81	65.76	69.90	69.74	76.74	66.41	75.47	72.60	80.32	85.09	86.86	85.76	87.25	87.59	85.88	77.30	77.301
Credit Grade	snapshot only																				5
Credit Trend	snapshot only																				-8.461
Implied Spread (bps)	snapshot only																				125.000
Industry Credit Rank	snapshot only																				66
Sector Credit Rank	snapshot only																				73

AI.PA PAR

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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