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ALRS NASDAQ

Alerus Financial Corporation
1W: +1.6% 1M: -1.9% 3M: +5.0% YTD: +45.5% 1Y: +49.6% 3Y: +95.0% 5Y: +27.4%
$32.67
+0.94 (+2.96%)
 
Weekly Expected Move ±2.6%
$31 $32 $33 $34 $34
NASDAQ · Financial Services · Banks - Regional · Tech Score Neutral · Power 50 · $821.0M mcap · 23M float · 0.920% daily turnover · Short 55% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE
46.3 / 100
NoneWeakNarrowWide
Primary source: Intangible Assets  ·  ROIC: 2.9%  ·  5Y Avg: 7.8%
Cost Advantage
48
Intangibles
69
Switching Cost
38
Network Effect
34
Scale
32
The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. ALRS shows a Weak competitive edge (46.3/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. ROIC of 2.9% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets
$36
Low
$37
Avg Target
$38
High
Based on 4 analysts since Jul 29, 2026 earnings
Analyst Recommendations
Strong Buy: 1Buy: 1Hold: 3Sell: 0Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$36.40
Analysts5
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-10-02 Piper Sandler Nathan Race $37 $38 +1 +19.8% $31.73
2026-08-03 Raymond James Ken Kohut $34 $37 +3 +11.2% $33.27
2026-07-31 D.A. Davidson — $22 $36 +14 +7.7% $33.44
2026-07-31 Piper Sandler Nathan Race $32 $37 +5 +10.3% $33.56
2026-07-09 Raymond James — $29 $34 +5 +12.1% $30.34
2026-06-26 Piper Sandler — $28 $32 +4 +4.5% $30.63
2026-05-01 Piper Sandler Nathan Race $23 $28 +6 +5.8% $26.94
2026-01-30 Raymond James David Long $27 $29 +2 +18.8% $24.42
2026-01-05 Raymond James David Long $24 $27 +3 +20.3% $22.45
2024-10-31 Piper Sandler Nathan Race $24 $23 -1 +12.7% $20.40
2024-09-17 Raymond James Wallave William IV Initiated $24 — +7.2% $22.39
2024-07-29 Piper Sandler Nathan Race $22 $24 +2 +7.3% $22.37
2024-05-16 D.A. Davidson Jeffrey Rulis Initiated $22 — +11.4% $19.74
2024-05-16 Piper Sandler Nathan Race $24 $22 -1 +14.5% $19.65
2024-04-29 Piper Sandler Nathan Race Initiated $24 — +16.9% $20.10

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.

B
Oct 02, 2026
DCF
4
ROE
3
ROA
4
D/E
2
P/E
1
P/B
2
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. ALRS receives an overall rating of B. Strongest factors: DCF (4/5), ROA (4/5). Areas of concern: D/E (2/5), P/E (1/5), P/B (2/5).
Rating Change History
DateFromTo
2026-10-01 C+ B
2026-07-29 B- C+
2026-05-01 C+ B-
2026-04-29 B- C+
2026-04-22 B B-
2026-04-16 B- B
2026-04-10 B B-
2026-04-08 B- B
2026-02-03 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.

★ ★ ★ ★ ★ 42 Grade A
Profitability
55
Balance Sheet
24
Earnings Quality
91
Growth
12
Value
60
Momentum
49
Safety
50
Cash Flow
84
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. ALRS scores highest in Earnings Quality (91/100) and lowest in Growth (12/100). An overall grade of A places ALRS 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-B Score
1.99
Grey Zone
Piotroski F-Score
6/9
✓ ✓ ✗ ✓ ✗ ✓ ✓ ✓ ✗
Beneish M-Score
-2.67
Unlikely Manipulator
Ohlson O-Score
-4.77
Bankruptcy prob: 0.8%
Low Risk
Credit Rating
BB
Score: 44.0/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 3.45x
Accruals: -1.3%
The Altman-B Score replaces the traditional Z-Score for banks and financial institutions. It weights equity-to-assets, return on assets, retained earnings, market value coverage, and cash reserves — metrics that better capture bank solvency than manufacturing-oriented ratios. ALRS scores 1.99, placing it in the Grey Zone (safe > 3.0, distress < 1.5). 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. ALRS scores 6/9, 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. ALRS's score of -2.67 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. ALRS's implied 0.8% 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. ALRS receives an estimated rating of BB (score: 44.0/100), 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). ALRS's score of 100/100 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
29.70x
PEG
-0.99x
P/S
2.47x
P/B
1.42x
P/FCF
7.92x
P/OCF
8.27x
EV/EBITDA
22.57x
EV/Revenue
3.39x
EV/EBIT
32.71x
EV/FCF
11.32x
Earnings Yield
3.51%
FCF Yield
12.62%
Shareholder Yield
4.47%
Graham Number
$23.74
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 29.7x earnings, ALRS commands a growth premium. Graham's intrinsic value formula yields $23.74 per share, 38% 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
0.765
NI / EBT
×
Interest Burden
1.050
EBT / EBIT
×
EBIT Margin
0.104
EBIT / Rev
×
Asset Turnover
0.063
Rev / Assets
×
Equity Multiplier
9.507
Assets / Equity
=
ROE
5.0%
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. ALRS's ROE of 5.0% is driven by financial leverage (equity multiplier: 9.51x). Note: high leverage means ROE is amplified by debt rather than operational performance.

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
0.00%
Fair P/E
8.50x
Intrinsic Value
$9.27
Price/Value
3.35x
Margin of Safety
-235.38%
Premium
235.38%
Assessment
Overvalued
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with ALRS's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. ALRS trades at a 235% premium to its adjusted intrinsic value of $9.27, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 29.7x.

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
$32.67
Median 1Y
$34.12
5th Pctile
$18.82
95th Pctile
$62.11
Ann. Volatility
34.6%
Analyst Target
$36.40
25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

ExecutiveSalaryStockTotal
Katie A. Lorenson
President and Chief Executive Officer
$625,000 $437,500 $1,630,180
Jim R. Collins
Executive Vice President and Chief Banking and Revenue Officer
$465,000 $186,000 $967,397
Karin M. Taylor
Executive Vice President and Chief Operating Officer
$405,000 $162,000 $848,787
Forrest R. Wilson
Executive Vice President and Chief Retirement Services Officer
$390,000 $156,000 $816,197
Alan A. Villalon
Executive Vice President and Chief Financial Officer
$360,000 $162,000 $768,688

CEO Pay Ratio

14:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $1,630,180
Avg Employee Cost (SGA/emp): $117,238
Employees: 864

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees
864
-3.1% YoY
Revenue / Employee
$379,462
Rev: $327,855,000
Profit / Employee
$20,184
NI: $17,439,000
SGA / Employee
$117,238
Avg labor cost proxy

Scaling Efficiency

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 Trend 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 14.9% 15.3% 14.5% 13.9% 12.0% 11.2% 11.1% 11.4% 10.8% 3.2% 2.7% 1.9% 0.8% 4.1% 5.6% 8.5% 10.8% 3.3% 5.0% 5.0% 4.96%
ROA 1.7% 1.6% 1.5% 1.4% 1.2% 1.1% 1.1% 1.1% 1.0% 0.3% 0.2% 0.2% 0.1% 0.4% 0.5% 0.8% 1.1% 0.3% 0.5% 0.5% 0.52%
ROIC -12.6% -7.8% -7.8% -20.2% -34.3% 1.7% -68.7% 21.9% 16.6% 8.9% -36.8% 7.4% 1.8% 10.9% 17.5% 12.8% 22.7% 1.9% 3.6% 2.9% 2.87%
ROCE 15.8% 16.3% 15.9% 15.9% 13.3% 12.4% 11.7% 11.6% 11.6% 3.2% 1.6% 1.2% 1.1% 3.6% 4.9% 7.5% 9.1% 0.5% 0.7% 0.7% 0.70%
Gross Margin 1.0% 1.0% 97.3% 96.9% 93.3% 85.4% 76.5% 72.5% 69.0% 45.2% 63.7% 58.1% 60.8% 57.6% 70.7% 72.9% 72.2% 22.9% 82.4% 77.4% 77.40%
Operating Margin 29.9% 29.1% 25.2% 22.6% 21.3% 23.9% 16.8% 17.7% 16.5% -39.6% 11.5% 10.2% 8.5% -0.3% 18.4% 26.0% 22.2% -1.3% 30.9% 24.7% 24.68%
Net Margin 22.8% 22.1% 19.6% 17.5% 16.3% 18.0% 13.1% 13.8% 13.1% -32.8% 8.7% 7.8% 6.5% -0.1% 14.0% 20.0% 17.1% -1.0% 23.5% 20.1% 20.15%
EBITDA Margin 33.6% 32.8% 29.2% 26.1% 24.9% 27.5% 20.1% 23.3% 16.8% -38.8% 14.4% 12.9% 11.3% 8.4% 22.4% 29.8% 27.5% -1.2% 36.8% 24.7% 24.68%
FCF Margin 47.1% 62.5% 56.9% 36.7% 38.0% 45.0% 26.6% 38.2% 27.4% 8.3% 13.5% 2.0% 3.2% 5.0% 3.2% 9.1% 14.2% 20.3% 26.2% 30.0% 29.96%
OCF Margin 47.9% 63.2% 57.6% 37.5% 38.9% 45.8% 27.7% 39.2% 28.2% 9.5% 14.6% 4.4% 6.4% 8.8% 7.1% 12.6% 15.5% 20.6% 26.5% 28.7% 28.71%
ROE 3Y Avg snapshot only 4.63%
ROE 5Y Avg snapshot only 7.84%
ROA 3Y Avg snapshot only 0.47%
ROIC 3Y Avg snapshot only 2.71%
ROIC Economic snapshot only 2.58%
Cash ROA snapshot only 1.81%
Cash ROIC snapshot only 10.37%
CROIC snapshot only 10.82%
NOPAT Margin snapshot only 7.93%
Pretax Margin snapshot only 10.88%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 39.75%
SBC / Revenue snapshot only 0.94%
Valuation
Metric Trend 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 9.03 8.46 8.89 8.14 9.52 10.59 7.75 8.82 9.05 35.73 41.33 53.10 143.82 26.45 18.86 14.22 11.29 32.80 22.23 28.51 29.700
P/S Ratio 1.88 1.89 1.88 1.68 1.80 1.89 1.25 1.34 1.31 1.72 1.61 1.39 1.58 1.42 1.32 1.47 1.45 1.74 1.82 2.37 2.467
P/B Ratio 1.28 1.24 1.29 1.20 1.15 1.19 0.82 0.93 0.97 1.13 1.11 1.00 1.14 0.95 0.90 1.03 1.03 1.01 1.05 1.35 1.423
P/FCF 3.99 3.02 3.31 4.56 4.73 4.19 4.70 3.52 4.77 20.62 11.94 70.67 48.76 28.31 40.70 16.23 10.23 8.60 6.95 7.92 7.925
P/OCF 3.93 2.99 3.27 4.47 4.62 4.11 4.51 3.43 4.63 18.02 11.02 32.01 24.76 16.22 18.62 11.74 9.38 8.47 6.87 8.27 8.268
EV/EBITDA -4.00 -7.53 -7.24 -2.42 -1.10 1.50 -2.07 2.50 3.80 8.10 0.61 6.29 17.78 3.61 1.88 4.66 2.78 23.66 14.22 22.57 22.575
EV/Revenue -1.24 -2.49 -2.28 -0.74 -0.31 0.40 -0.51 0.60 0.83 0.74 0.05 0.36 0.80 0.42 0.26 0.86 0.61 2.88 2.35 3.39 3.390
EV/EBIT -4.54 -8.50 -8.23 -2.75 -1.27 1.74 -2.42 3.01 4.44 11.36 0.88 9.24 39.53 5.93 2.85 6.34 3.67 41.76 21.97 32.71 32.706
EV/FCF -2.63 -3.98 -4.01 -2.01 -0.82 0.90 -1.91 1.56 3.02 8.89 0.36 18.11 24.60 8.28 8.03 9.44 4.33 14.19 8.95 11.32 11.315
Earnings Yield 11.1% 11.8% 11.2% 12.3% 10.5% 9.4% 12.9% 11.3% 11.0% 2.8% 2.4% 1.9% 0.7% 3.8% 5.3% 7.0% 8.9% 3.0% 4.5% 3.5% 3.51%
FCF Yield 25.0% 33.1% 30.2% 21.9% 21.2% 23.9% 21.3% 28.4% 21.0% 4.9% 8.4% 1.4% 2.1% 3.5% 2.5% 6.2% 9.8% 11.6% 14.4% 12.6% 12.62%
Price/Tangible Book snapshot only 1.687
EV/OCF snapshot only 11.805
EV/Gross Profit snapshot only 4.705
Acquirers Multiple snapshot only 32.706
Shareholder Yield snapshot only 4.47%
Graham Number snapshot only $23.74
Leverage & Solvency
Metric Trend 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 0.30 0.38 0.34 0.29 0.24 0.25 0.25 0.22 0.21 0.20 0.30 0.26 0.15 0.15 0.14 0.14 0.14 0.29 0.75 0.37 0.375
Quick Ratio 0.30 0.38 0.34 0.29 0.24 0.25 0.25 0.22 0.21 0.20 0.30 0.26 0.15 0.15 0.14 0.14 0.14 0.29 0.75 0.37 0.375
Debt/Equity 0.18 0.18 0.19 0.99 0.92 1.24 1.22 1.56 1.66 1.03 1.67 1.66 0.81 0.64 0.54 0.73 0.54 0.78 0.53 0.77 0.767
Net Debt/Equity -2.13 -2.87 -2.85 -1.73 -1.35 -0.93 -1.15 -0.52 -0.36 -0.64 -1.07 -0.75 -0.57 -0.67 -0.73 -0.43 -0.60 0.66 0.30 0.58 0.580
Debt/Assets 0.02 0.02 0.02 0.09 0.09 0.12 0.11 0.15 0.15 0.10 0.14 0.14 0.08 0.06 0.05 0.07 0.06 0.08 0.06 0.08 0.085
Debt/EBITDA 0.85 0.81 0.89 4.54 5.06 7.33 7.54 9.40 10.30 17.04 30.55 40.65 25.02 8.33 5.69 5.71 3.41 11.05 5.53 8.95 8.947
Net Debt/EBITDA -10.07 -13.26 -13.22 -7.90 -7.46 -5.51 -7.16 -3.12 -2.20 -10.69 -19.66 -18.27 -17.45 -8.73 -7.64 -3.36 -3.78 9.32 3.17 6.76 6.765
Interest Coverage 10.61 12.43 10.99 10.04 6.46 3.29 1.73 1.09 0.77 0.21 0.15 0.10 0.05 0.20 0.28 0.45 0.59 0.21 0.35 0.35 0.353
Equity Multiplier 8.99 9.44 10.16 10.73 10.70 10.59 10.82 10.72 11.07 10.59 11.67 11.68 10.57 10.62 10.38 9.99 9.68 9.26 9.20 9.07 9.069
Cash Ratio snapshot only 0.316
Debt Service Coverage snapshot only 0.511
Cash to Debt snapshot only 0.244
FCF to Debt snapshot only 0.223
Defensive Interval snapshot only 229.8 days
Efficiency & Turnover
Metric Trend 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 0.08 0.07 0.07 0.07 0.06 0.06 0.07 0.07 0.07 0.06 0.06 0.07 0.07 0.07 0.07 0.08 0.08 0.06 0.06 0.06 0.063
Inventory Turnover — — — — — — — — — — — — — — — — — — — — —
Receivables Turnover 26.69 25.91 25.27 24.95 22.03 20.99 21.89 21.82 19.31 17.03 17.48 17.63 17.40 18.47 19.19 19.76 20.61 15.68 16.13 16.19 16.192
Payables Turnover — — — — — — — — — — — — — — — — — — — — —
DSO 14 14 14 15 17 17 17 17 19 21 21 21 21 20 19 18 18 23 23 23 22.5 days
DIO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 days
DPO 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 —
Cash Conversion Cycle 14 14 14 15 17 17 17 17 19 21 21 21 21 20 19 18 18 23 23 23 —
Fixed Asset Turnover snapshot only 2.801
Cash Velocity snapshot only 3.052
Capital Intensity snapshot only 15.895
Growth (YoY)
Metric Trend 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 5.0% -1.7% -11.4% -12.6% -8.0% -4.7% 4.7% 12.9% 17.0% 8.3% 8.2% 8.3% 7.6% 35.9% 38.2% 38.9% 40.7% -0.8% -6.1% -10.8% -10.82%
Net Income 19.0% 17.9% -12.6% -17.4% -16.7% -24.1% -20.2% -16.4% -10.6% -70.8% -73.8% -81.4% -91.8% 51.8% 1.5% 4.5% 15.4% -1.8% 10.0% -28.4% -28.37%
EPS 18.7% 17.7% -12.8% -17.5% -27.9% -34.4% -31.1% -27.6% -10.0% -70.4% -73.5% -81.2% -91.8% 20.7% 93.1% 3.3% 11.8% -2.8% 11.1% -27.7% -27.65%
FCF 20.8% 6.7% 1.5% -2.1% -25.8% -31.4% -51.0% 17.4% -15.8% -80.0% -45.1% -94.4% -87.2% -18.2% -66.8% 5.4% 5.2% 3.0% 6.6% 1.9% 1.94%
EBITDA 16.8% 15.5% -12.3% -17.0% -16.2% -22.4% -18.3% -11.7% -9.8% -63.2% -65.0% -74.3% -77.8% 71.1% 1.4% 3.5% 5.9% 4.8% 11.7% -27.2% -27.18%
Op. Income 19.4% 18.0% -13.0% -17.9% -17.2% -24.5% -20.3% -16.5% -11.4% -69.6% -72.0% -78.9% -88.3% 46.1% 1.3% 3.9% 10.7% -2.4% 9.6% -31.6% -31.61%
OCF Growth snapshot only 1.04%
Asset Growth snapshot only -0.66%
Equity Growth snapshot only 9.38%
Debt Growth snapshot only 14.10%
Shares Change snapshot only -0.99%
Dividend Growth snapshot only 16.22%
Growth (CAGR)
Metric Trend 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 9.0% 7.7% 5.3% 3.6% 3.1% 3.2% 4.6% 5.1% 4.1% 0.4% 0.1% 2.2% 5.0% 11.9% 16.1% 19.3% 21.0% 13.4% 12.0% 10.3% 10.28%
Revenue 5Y 9.5% 7.9% 6.5% 5.5% 4.9% 4.9% 5.5% 6.3% 6.9% 5.2% 5.7% 6.3% 6.7% 10.1% 11.3% 11.8% 11.3% 6.4% 5.4% 5.8% 5.76%
EPS 3Y 24.7% 17.9% 14.6% 8.9% 2.7% 5.2% 4.7% 1.0% -8.3% -38.9% -45.8% -51.8% -62.4% -38.3% -29.3% -16.4% -1.7% -29.7% -17.2% -16.4% -16.42%
EPS 5Y 28.6% 24.1% 18.8% 15.3% 7.6% 12.4% 8.7% 7.3% 4.7% -20.5% -22.7% -29.4% -39.6% -16.1% -10.1% -3.6% -4.1% -23.1% -19.3% -19.0% -19.00%
Net Income 3Y 34.1% 26.8% 23.3% 17.1% 14.4% 10.6% 10.1% 6.2% -3.9% -36.0% -43.3% -49.5% -60.6% -30.4% -19.7% -5.1% 6.5% -24.2% -10.7% -9.8% -9.85%
Net Income 5Y 34.4% 29.7% 24.3% 20.6% 15.8% 21.0% 17.0% 15.5% 12.4% -14.7% -17.1% -24.2% -35.7% -9.7% -2.8% 4.1% 3.7% -17.2% -13.1% -12.7% -12.73%
EBITDA 3Y 23.0% 26.2% 21.5% 14.7% 11.0% 8.2% 7.9% 5.8% -4.1% -30.9% -36.9% -42.7% -44.8% -21.2% -11.7% 0.7% 11.5% -12.9% -2.0% -5.6% -5.56%
EBITDA 5Y 20.5% 18.2% 14.5% 10.4% 7.4% 7.1% 6.1% 8.5% 7.1% -10.5% -12.5% -19.3% -22.8% -4.4% 1.1% 6.5% 6.3% -10.0% -7.5% -9.2% -9.20%
Gross Profit 3Y 12.2% 11.7% 9.6% 7.8% 6.7% 5.3% 4.7% 2.6% -1.3% -8.9% -11.5% -12.2% -11.6% -5.4% -0.7% 4.1% 7.8% 1.8% 4.2% 5.8% 5.79%
Gross Profit 5Y 10.7% 9.1% 7.5% 6.4% 5.4% 4.7% 4.3% 4.1% 3.3% -0.5% -0.7% -1.4% -1.7% 2.1% 4.0% 5.6% 5.7% 0.3% -0.2% 0.0% 0.04%
Op. Income 3Y 24.3% 27.9% 23.7% 16.8% 13.6% 10.3% 10.0% 6.2% -4.3% -35.3% -42.1% -47.5% -55.9% -30.5% -19.7% -5.1% 6.5% -24.3% -10.7% -11.2% -11.18%
Op. Income 5Y 31.3% 26.7% 21.4% 15.6% 11.2% 9.6% 7.6% 8.9% 7.1% -13.7% -15.8% -22.4% -31.4% -9.9% -2.9% 4.2% 3.6% -17.3% -13.2% -13.7% -13.65%
FCF 3Y 24.9% 34.6% 40.2% 33.3% 51.4% 83.6% — 1.5% — — -11.9% -60.0% -56.9% -51.7% -55.3% -25.1% -12.9% -13.1% 11.4% 1.7% 1.68%
FCF 5Y — 30.3% 19.7% 10.3% 2.3% 17.6% 5.3% 15.0% 4.0% -19.6% -5.8% -31.1% -17.9% 0.3% — 41.4% — — 11.5% 3.9% 3.85%
OCF 3Y 24.1% 33.2% 37.7% 29.6% 45.2% 74.9% — 1.2% — — -11.5% -48.3% -46.3% -42.1% -42.2% -17.2% -11.0% -13.1% 10.3% -0.6% -0.59%
OCF 5Y — 32.2% 20.8% 11.6% 3.2% 16.5% 5.1% 14.5% 3.9% -18.1% -5.6% -21.0% -8.7% 8.5% — 39.2% — — 10.3% 2.4% 2.42%
Assets 3Y 13.5% 15.9% 14.6% 14.3% 18.3% 17.0% 15.7% 10.1% 10.1% 9.0% 11.2% 11.3% 8.8% 15.8% 17.0% 17.3% 13.0% 11.4% 10.8% 11.3% 11.33%
Assets 5Y 10.4% 10.6% 10.7% 10.1% 12.3% 12.1% 13.2% 12.0% 12.2% 12.4% 14.4% 14.6% 12.9% 17.4% 16.3% 13.1% 13.0% 11.7% 10.9% 10.9% 10.87%
Equity 3Y 22.7% 22.2% 17.2% 12.8% 7.0% 7.7% 6.9% 5.4% 2.8% 3.8% 4.1% 2.7% 3.0% 11.3% 16.1% 20.2% 16.9% 16.5% 17.0% 17.7% 17.70%
Book Value 3Y 14.1% 13.7% 9.0% 4.9% -4.0% 2.4% 1.7% 0.3% -2.0% -0.8% -0.5% -1.8% -1.6% -1.4% 2.2% 5.9% 7.9% 8.0% 8.5% 9.1% 9.12%
Dividend 3Y -6.5% -5.9% -5.4% -4.9% -6.5% 0.8% 2.4% 4.3% 2.1% -0.2% -1.9% -4.4% -3.6% -9.7% -8.1% -5.2% 1.0% 2.4% -0.3% -2.8% -2.85%
Growth Quality
Metric Trend 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 0.99 0.94 0.76 0.72 0.74 0.69 0.61 0.67 0.74 0.59 0.55 0.68 0.82 0.66 0.71 0.71 0.66 0.63 0.56 0.60 0.601
Earnings Stability 0.95 0.95 0.83 0.82 0.80 0.74 0.55 0.51 0.44 0.01 0.03 0.10 0.22 0.33 0.29 0.14 0.10 0.70 0.59 0.36 0.365
Margin Stability 0.96 0.95 0.95 0.95 0.95 0.95 0.95 0.93 0.90 0.86 0.85 0.82 0.80 0.79 0.80 0.80 0.80 0.80 0.81 0.82 0.816
Rev. Growth Consistency 1.00 0.00 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 1.00 0.00 0.00 0.00 0.000
Earn. Growth Consistency 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.00 1.00 0.00 0.000
FCF Positive Streak 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence 0.92 0.93 0.95 0.93 0.93 0.90 0.92 0.93 0.96 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.50 0.99 0.96 0.89 0.887
Earnings Smoothness 0.83 0.84 0.87 0.81 0.82 0.73 0.77 0.82 0.89 0.00 0.00 0.00 0.00 0.59 0.15 0.00 0.00 0.98 0.91 0.67 0.669
ROE Trend 0.03 0.03 0.01 0.02 -0.02 -0.03 -0.05 -0.05 -0.02 -0.10 -0.10 -0.11 -0.11 -0.04 -0.02 0.01 0.03 -0.00 0.01 0.00 0.002
Gross Margin Trend 0.10 0.10 0.09 0.08 0.04 -0.02 -0.08 -0.15 -0.22 -0.29 -0.29 -0.30 -0.28 -0.20 -0.14 -0.05 0.02 0.03 0.08 0.09 0.090
FCF Margin Trend 0.42 0.64 0.48 0.19 0.16 0.19 -0.12 0.03 -0.15 -0.45 -0.28 -0.36 -0.29 -0.22 -0.17 -0.11 -0.01 0.14 0.18 0.24 0.244
Sustainable Growth Rate 11.7% 12.2% 11.2% 10.5% 8.5% 7.6% 7.1% 7.0% 6.5% -0.8% -1.3% -2.1% -3.3% 0.5% 1.8% 4.5% 6.6% -0.6% 1.2% 1.2% 1.18%
Internal Growth Rate 1.3% 1.3% 1.1% 1.1% 0.9% 0.8% 0.7% 0.7% 0.6% — — — — 0.1% 0.2% 0.4% 0.7% — 0.1% 0.1% 0.12%
Cash Flow Quality
Metric Trend 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 2.30 2.83 2.72 1.82 2.06 2.57 1.72 2.57 1.95 1.98 3.75 1.66 5.81 1.63 1.01 1.21 1.20 3.87 3.23 3.45 3.448
FCF/OCF 0.98 0.99 0.99 0.98 0.98 0.98 0.96 0.98 0.97 0.87 0.92 0.45 0.51 0.57 0.46 0.72 0.92 0.98 0.99 1.04 1.043
FCF/Net Income snapshot only 3.597
OCF/EBITDA snapshot only 1.912
CapEx/Revenue 0.8% 0.7% 0.7% 0.8% 0.9% 0.8% 1.1% 1.0% 0.8% 1.2% 1.1% 2.4% 3.1% 3.7% 3.9% 3.5% 1.3% 0.3% 0.3% 1.2% 1.24%
CapEx/Depreciation snapshot only 0.267
Accruals Ratio -0.02 -0.03 -0.03 -0.01 -0.01 -0.02 -0.01 -0.02 -0.01 -0.00 -0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.01 -0.01 -0.01 -0.013
Sloan Accruals snapshot only 0.712
Cash Flow Adequacy snapshot only 3.786
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend 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 2.3% 2.4% 2.6% 3.0% 3.0% 3.0% 4.6% 4.4% 4.3% 3.5% 3.6% 3.9% 3.4% 3.3% 3.6% 3.3% 3.5% 3.6% 3.5% 2.7% 2.63%
Dividend/Share $0.60 $0.62 $0.62 $0.63 $0.59 $0.63 $0.67 $0.72 $0.73 $0.73 $0.74 $0.73 $0.75 $0.61 $0.65 $0.71 $0.77 $0.82 $0.82 $0.83 $0.86
Payout Ratio 21.1% 20.4% 22.9% 24.6% 28.6% 32.0% 35.9% 38.8% 39.2% 1.2% 1.5% 2.1% 4.9% 87.0% 68.0% 47.4% 39.1% 1.2% 76.9% 76.1% 76.14%
FCF Payout Ratio 9.3% 7.3% 8.5% 13.8% 14.2% 12.7% 21.7% 15.5% 20.7% 72.0% 42.8% 2.8% 1.7% 93.1% 1.5% 54.1% 35.4% 31.3% 24.0% 21.2% 21.16%
Total Payout Ratio 22.3% 21.8% 24.8% 26.7% 30.7% 33.8% 37.2% 47.6% 51.5% 1.8% 2.1% 2.6% 5.7% 88.5% 69.0% 48.2% 40.2% 1.2% 1.0% 1.3% 1.27%
Div. Increase Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Chowder Number 0.04 0.06 0.08 0.10 0.16 0.22 0.29 0.36 0.27 0.18 0.12 0.04 0.06 0.09 0.17 0.28 0.35 0.38 0.28 0.18 0.177
Buyback Yield 0.1% 0.2% 0.2% 0.3% 0.2% 0.2% 0.2% 1.0% 1.4% 1.6% 1.6% 0.9% 0.5% 0.1% 0.1% 0.1% 0.1% 0.1% 1.2% 1.8% 1.80%
Net Buyback Yield 0.1% 0.2% 0.2% 0.3% 0.2% 0.2% 0.2% 1.0% 1.4% 1.6% 1.6% 0.9% 0.5% 0.1% 0.1% 0.1% 0.1% 0.1% 1.2% 1.8% 1.80%
Total Shareholder Return 2.5% 2.6% 2.8% 3.3% 3.2% 3.2% 4.8% 5.4% 5.7% 5.1% 5.2% 4.9% 3.9% 3.3% 3.7% 3.4% 3.6% 3.8% 4.6% 4.5% 4.47%
DuPont Factors
Metric Trend 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) 0.76 0.76 0.77 0.77 0.77 0.77 0.77 0.77 0.78 0.74 0.72 0.68 0.54 0.77 0.77 0.77 0.77 0.77 0.77 0.77 0.765
Interest Burden (EBT/EBIT) 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 1.05 1.050
EBIT Margin 0.27 0.29 0.28 0.27 0.25 0.23 0.21 0.20 0.19 0.07 0.05 0.04 0.02 0.07 0.09 0.14 0.17 0.07 0.11 0.10 0.104
Asset Turnover 0.08 0.07 0.07 0.07 0.06 0.06 0.07 0.07 0.07 0.06 0.06 0.07 0.07 0.07 0.07 0.08 0.08 0.06 0.06 0.06 0.063
Equity Multiplier 9.00 9.29 9.86 9.90 9.84 10.01 10.50 10.72 10.89 10.59 11.26 11.21 10.81 10.61 10.92 10.68 10.05 9.89 9.76 9.51 9.507
Per Share
Metric Trend 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) $2.87 $3.01 $2.72 $2.58 $2.07 $1.98 $1.88 $1.87 $1.86 $0.58 $0.50 $0.35 $0.15 $0.71 $0.96 $1.51 $1.96 $0.69 $1.07 $1.09 $1.09
Book Value/Share $20.18 $20.56 $18.77 $17.52 $17.05 $17.64 $17.74 $17.67 $17.39 $18.46 $18.59 $18.61 $19.25 $19.70 $20.05 $20.78 $21.42 $22.24 $22.63 $22.96 $22.96
Tangible Book/Share $17.07 $17.49 $15.77 $14.62 $13.46 $14.07 $14.25 $14.25 $14.03 $15.16 $15.36 $15.46 $16.17 $14.24 $14.82 $15.67 $16.43 $17.56 $18.02 $18.43 $18.43
Revenue/Share $13.75 $13.49 $12.84 $12.54 $10.94 $11.10 $11.62 $12.26 $12.89 $12.16 $12.74 $13.40 $13.88 $13.14 $13.71 $14.54 $15.25 $12.91 $13.01 $13.10 $13.10
FCF/Share $6.48 $8.43 $7.31 $4.61 $4.16 $5.00 $3.10 $4.68 $3.53 $1.01 $1.72 $0.26 $0.45 $0.66 $0.45 $1.32 $2.17 $2.62 $3.41 $3.92 $3.92
OCF/Share $6.59 $8.53 $7.40 $4.71 $4.26 $5.09 $3.23 $4.80 $3.63 $1.16 $1.87 $0.58 $0.89 $1.15 $0.97 $1.83 $2.36 $2.66 $3.45 $3.76 $3.76
Cash/Share $46.56 $62.70 $57.10 $47.68 $38.72 $38.33 $42.03 $36.70 $35.07 $30.84 $50.94 $44.76 $26.50 $25.82 $25.37 $24.25 $24.29 $2.71 $5.07 $4.29 $4.29
EBITDA/Share $4.27 $4.46 $4.05 $3.83 $3.09 $2.99 $2.86 $2.93 $2.81 $1.11 $1.01 $0.76 $0.62 $1.51 $1.90 $2.67 $3.37 $1.57 $2.15 $1.97 $1.97
Debt/Share $3.62 $3.62 $3.59 $17.40 $15.64 $21.89 $21.56 $27.55 $28.90 $18.95 $30.99 $30.88 $15.61 $12.61 $10.82 $15.27 $11.51 $17.35 $11.88 $17.60 $17.60
Net Debt/Share $-42.94 $-59.08 $-53.51 $-30.27 $-23.08 $-16.45 $-20.47 $-9.15 $-6.17 $-11.89 $-19.95 $-13.88 $-10.89 $-13.21 $-14.54 $-8.98 $-12.77 $14.63 $6.81 $13.31 $13.31
Academic Models
Metric Trend 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-B Score — — — — — — — — — — — — — — — — — — — — 1.989
Altman Z-Prime snapshot only 0.139
Piotroski F-Score 8 7 4 3 3 3 3 4 5 6 6 7 6 7 7 7 7 4 7 6 6
Beneish M-Score -2.67 -2.26 -2.61 -2.39 -2.16 -1.91 -1.82 -1.85 -1.95 -1.72 -2.14 -2.09 -2.32 -1.91 -2.16 -2.28 -2.22 -2.44 -2.64 -2.67 -2.671
Ohlson O-Score snapshot only -4.770
Net-Net WC snapshot only $-180.19
EVA snapshot only $-65719801.92
Credit
Metric Trend 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 BB
Credit Score 92.39 93.60 89.61 68.44 67.17 63.50 62.36 57.43 53.46 43.71 38.39 37.02 32.96 38.83 41.64 48.44 61.20 34.53 45.81 44.03 44.031
Credit Grade snapshot only 12
Credit Trend snapshot only -4.404
Implied Spread (bps) snapshot only 475.000
Industry Credit Rank snapshot only 26
Sector Credit Rank snapshot only 29

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