$22.31

+0.38 (+1.73%)

Weekly Expected Move ±4.4%

$20 $21 $22 $23 $24

NYSE · Healthcare · Medical - Devices · Tech Score Strong Sell · Power 33 · $1.1B mcap · 46M float · 1.54% daily turnover · Short 60% 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

45.7 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: -3.4% · 5Y Avg: -3.2%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

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. AORT shows a Weak competitive edge (45.7/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. Negative ROIC of -3.4% indicates the company is currently destroying value, though this may reflect a growth investment phase.

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

$39

Low

$40

Avg Target

$40

High

Based on 2 analysts since Aug 6, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 10Hold: 2Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$39.50

Analysts2

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-18	Canaccord Genuity	William Plovanic	$39	$40	+1	+41.2%	$28.32
2026-08-07	Canaccord Genuity	William Plovanic	$36	$39	+3	+46.8%	$26.57
2026-06-16	Canaccord Genuity	William Plovanic	$51	$36	-15	+70.9%	$21.07
2026-06-01	Stifel Nicolaus	John McAulay	$55	$45	-10	+102.8%	$22.19
2026-03-05	Stifel Nicolaus	John McAulay	Initiated	$55	—	+43.8%	$38.26
2025-12-17	Canaccord Genuity	William Plovanic	Initiated	$51	—	+11.1%	$45.91
2025-11-07	Oppenheimer	Suraj Kalia	$30	$50	+20	+9.3%	$45.73
2025-08-08	Needham	Mike Matson	$30	$45	+15	+14.6%	$39.27
2024-10-22	JMP Securities	Daniel Stauder	Initiated	$33	—	+24.4%	$26.53
2024-08-09	Oppenheimer	Suraj Kalia	Initiated	$30	—	+18.4%	$25.33
2024-07-10	Lake Street	Frank Takkinen	Initiated	$30	—	+15.7%	$25.94
2024-07-02	Loop Capital Markets	Frank Takkinen	Initiated	$30	—	+15.3%	$26.02
2024-05-07	Needham	Mike Matson	Initiated	$30	—	+42.4%	$21.07

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.

C-

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. AORT receives an overall rating of C-. Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-08-07	C	C-
2026-08-04	C+	C
2026-08-03	C	C+
2026-07-30	C+	C
2026-07-27	C	C+
2026-07-01	C+	C
2026-05-13	B-	C+
2026-05-11	C+	B-
2026-05-08	C	C+
2026-04-01	C+	C

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.

★ ★ ★ ★ ★ 29 Grade D

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. AORT scores highest in Growth (81/100) and lowest in Cash Flow (12/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

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

Altman Z-Score

1.78

Distress Zone

Piotroski F-Score

4/9

✗ ✓ ✓ ✓ ✗ ✗ ✗ ✗ ✓

Beneish M-Score

-2.53

Unlikely Manipulator

Ohlson O-Score

-6.78

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BB-

Score: 37.9/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -12.63x

Accruals: -4.5%

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. AORT scores 1.78, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. 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. AORT scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. AORT's score of -2.53 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. AORT's implied 0.1% 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. AORT receives an estimated rating of BB- (score: 37.9/100), with a deteriorating trend.

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

-374.33x

PEG

1.69x

P/S

2.30x

P/B

2.43x

P/FCF

-100.00x

P/OCF

27.30x

EV/EBITDA

24.76x

EV/Revenue

3.01x

EV/EBIT

53.63x

EV/FCF

-130.32x

Earnings Yield

-0.29%

FCF Yield

-1.00%

Shareholder Yield

0.00%

Graham Number

—

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. AORT currently has negative earnings — the P/E ratio is not meaningful.

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

-1.417

NI / EBT

Interest Burden

0.084

EBT / EBIT

EBIT Margin

0.056

EBIT / Rev

Asset Turnover

0.494

Rev / Assets

Equity Multiplier

2.207

Assets / Equity

ROE

-0.7%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. AORT's ROE of -0.7% is driven by Asset Turnover (0.494), indicating efficient use of assets to generate revenue. A tax burden ratio of -1.42 suggests the company retains less than 60% of pre-tax earnings after taxes.

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

—

Price/Value

—

Margin of Safety

—

Premium

—

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

$22.31

Median 1Y

$19.40

5th Pctile

$8.71

95th Pctile

$43.79

Ann. Volatility

48.6%

Analyst Target

$39.50

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

Executive	Salary	Stock	Total
J. Patrick Mackin, Chairman, President and Chief Executive Officer	$835,145	$5,006,990	$6,883,108
Lance A. Berry, Executive Vice President, Chief Operating Officer, Chief Financial Officer, and Treasurer	$526,377	$1,959,984	$2,977,091
John E. Davis, Senior Vice President, Chief Commercial Officer	$441,095	$1,234,977	$1,958,047
Jean F. Holloway, Senior Vice President, General Counsel, Corporate Secretary, and Chief Compliance Officer	$438,408	$1,190,001	$1,909,597
Marshall S. Stanton, Senior Vice President, Clinical Research and Chief Medical Officer	$443,929	$934,986	$1,660,393

CEO Pay Ratio

58:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $6,883,108

Avg Employee Cost (SGA/emp): $118,176

Employees: 1,800

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

1,800

+12.5% YoY

Revenue / Employee

$245,183

Rev: $441,330,000

Profit / Employee

$5,427

NI: $9,768,000

SGA / Employee

$118,176

Avg labor cost proxy

R&D / Employee

$17,217

Innovation spend

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	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	0.6%	-4.7%	-5.1%	-5.9%	-14.6%	-6.6%	-10.2%	-10.1%	-9.3%	-10.8%	-3.3%	-2.9%	-0.3%	-4.8%	-7.3%	-5.0%	-2.5%	2.7%	3.1%	-0.7%	-0.73%
ROA	0.2%	-1.9%	-1.9%	-2.2%	-5.3%	-2.5%	-3.8%	-3.7%	-3.2%	-3.9%	-1.2%	-1.1%	-0.1%	-1.7%	-2.7%	-2.2%	-1.1%	1.2%	1.4%	-0.3%	-0.33%
ROIC	5.0%	1.1%	1.1%	1.5%	-1.0%	0.8%	0.1%	0.5%	0.9%	0.8%	-4.9%	-1.4%	-0.6%	5.2%	2.0%	2.2%	3.1%	3.0%	3.7%	-3.4%	-3.44%
ROCE	2.7%	0.3%	0.6%	0.3%	-2.5%	0.5%	-0.2%	0.3%	0.9%	0.5%	3.7%	4.0%	6.0%	3.7%	1.6%	2.1%	2.9%	5.3%	5.3%	2.7%	2.75%
Gross Margin	66.2%	64.7%	65.7%	64.9%	63.4%	64.1%	64.6%	65.1%	64.0%	65.2%	64.6%	64.6%	63.7%	63.2%	64.2%	64.7%	65.6%	60.1%	61.5%	64.0%	64.03%
Operating Margin	20.3%	-11.8%	2.1%	5.7%	-5.3%	5.2%	-4.6%	8.6%	-1.4%	3.4%	26.0%	6.6%	4.6%	2.7%	2.2%	7.4%	11.1%	6.2%	6.4%	-6.7%	-6.65%
Net Margin	14.7%	-25.3%	-4.4%	-5.3%	-17.8%	2.7%	-16.3%	-3.8%	-11.2%	-4.2%	7.7%	-2.2%	-2.4%	-16.9%	-0.5%	1.2%	5.7%	2.1%	1.2%	-10.7%	-10.74%
EBITDA Margin	25.0%	-7.8%	9.6%	8.0%	-2.8%	17.7%	3.5%	10.6%	3.3%	12.2%	27.2%	12.0%	13.8%	-0.6%	10.9%	14.4%	16.7%	15.4%	10.4%	6.9%	6.87%
FCF Margin	-3.9%	-5.5%	-4.8%	-7.0%	-4.7%	-5.1%	-6.9%	-2.2%	-0.4%	2.9%	2.8%	2.4%	2.9%	2.8%	-0.1%	1.9%	3.7%	-0.2%	2.8%	-2.3%	-2.31%
OCF Margin	0.7%	-0.9%	-0.0%	-3.6%	-1.3%	-1.6%	-3.3%	1.4%	2.3%	5.3%	5.3%	5.0%	6.0%	5.7%	2.8%	4.9%	6.8%	8.6%	12.3%	8.5%	8.48%
ROE 3Y Avg	snapshot only																				-2.61%
ROE 5Y Avg	snapshot only																				-4.80%
ROA 3Y Avg	snapshot only																				-1.16%
ROIC 3Y Avg	snapshot only																				0.94%
ROIC Economic	snapshot only																				-3.16%
Cash ROA	snapshot only																				3.73%
Cash ROIC	snapshot only																				5.15%
CROIC	snapshot only																				-1.41%
NOPAT Margin	snapshot only																				-5.66%
Pretax Margin	snapshot only																				0.47%
R&D / Revenue	snapshot only																				7.44%
SGA / Revenue	snapshot only																				51.56%
SBC / Revenue	snapshot only																				3.52%

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	548.04	-53.72	-56.48	-44.03	-13.39	-25.58	-18.06	-24.62	-25.25	-23.83	-105.27	-127.83	-1308.92	-89.63	-48.51	-78.70	-225.92	231.60	155.79	-344.62	-374.329
P/S Ratio	3.45	2.67	2.79	2.44	1.77	1.56	1.66	2.13	1.82	2.07	2.75	2.84	2.89	3.08	2.66	3.48	4.89	5.13	3.97	2.31	2.297
P/B Ratio	3.18	2.65	2.86	2.68	2.18	1.73	1.89	2.48	2.28	2.60	3.43	3.62	3.66	4.34	3.53	3.36	4.71	5.05	4.04	2.45	2.430
P/FCF	-88.01	-48.59	-57.97	-34.78	-37.43	-30.94	-24.04	-97.83	-446.83	70.25	98.36	116.38	99.06	108.38	-2364.61	184.16	131.12	-2483.32	141.93	-100.00	-100.001
P/OCF	461.08	—	—	—	—	—	—	155.20	79.76	38.84	52.00	57.14	48.57	53.85	96.33	71.81	71.93	59.33	32.38	27.30	27.295
EV/EBITDA	28.80	42.36	41.57	41.80	160.83	31.45	40.28	41.50	31.43	38.47	26.29	26.13	22.55	29.55	38.64	40.75	50.45	39.01	31.11	24.76	24.761
EV/Revenue	4.47	3.69	3.81	3.47	2.78	2.58	2.67	3.06	2.72	2.91	3.60	3.65	3.69	3.88	3.49	4.00	5.42	5.64	4.41	3.01	3.015
EV/EBIT	62.08	529.48	285.52	489.08	-49.75	247.84	-791.24	553.88	137.73	277.58	48.81	46.96	36.18	56.28	118.25	98.88	102.17	60.19	48.53	53.63	53.632
EV/FCF	-114.10	-67.31	-78.97	-49.39	-58.87	-50.95	-38.79	-140.62	-666.03	99.02	128.59	149.86	126.35	136.33	-3104.17	211.60	145.53	-2732.64	157.71	-130.32	-130.317
Earnings Yield	0.2%	-1.9%	-1.8%	-2.3%	-7.5%	-3.9%	-5.5%	-4.1%	-4.0%	-4.2%	-0.9%	-0.8%	-0.1%	-1.1%	-2.1%	-1.3%	-0.4%	0.4%	0.6%	-0.3%	-0.29%
FCF Yield	-1.1%	-2.1%	-1.7%	-2.9%	-2.7%	-3.2%	-4.2%	-1.0%	-0.2%	1.4%	1.0%	0.9%	1.0%	0.9%	-0.0%	0.5%	0.8%	-0.0%	0.7%	-1.0%	-1.00%
PEG Ratio	snapshot only																				1.693
EV/OCF	snapshot only																				35.570
EV/Gross Profit	snapshot only																				4.800
Acquirers Multiple	snapshot only																				75.448
Shareholder Yield	snapshot only																				0.00%

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	4.21	5.51	5.71	5.77	5.17	4.98	5.47	4.69	4.86	4.85	6.04	5.63	1.88	4.34	5.53	4.78	3.31	2.99	3.28	3.47	3.473
Quick Ratio	2.93	3.80	3.93	3.99	3.59	3.48	3.74	3.30	3.43	3.43	4.26	4.04	1.33	3.15	3.95	3.48	2.25	2.08	2.22	2.51	2.506
Debt/Equity	1.15	1.20	1.21	1.27	1.39	1.25	1.27	1.26	1.31	1.27	1.23	1.23	1.19	1.31	1.23	0.63	0.68	0.65	0.57	0.92	0.916
Net Debt/Equity	0.94	1.02	1.04	1.13	1.25	1.12	1.16	1.08	1.12	1.06	1.06	1.04	1.01	1.12	1.10	0.50	0.52	0.51	0.45	0.74	0.742
Debt/Assets	0.44	0.46	0.46	0.47	0.48	0.47	0.47	0.46	0.46	0.45	0.46	0.46	0.45	0.46	0.46	0.31	0.35	0.33	0.29	0.38	0.381
Debt/EBITDA	8.03	13.89	12.90	13.93	65.50	13.88	16.76	14.64	12.16	13.38	7.20	6.88	5.76	7.11	10.28	6.63	6.61	4.58	3.97	7.11	7.107
Net Debt/EBITDA	6.58	11.78	11.06	12.36	58.58	12.35	15.31	12.63	10.34	11.18	6.18	5.84	4.87	6.06	9.21	5.28	5.00	3.56	3.11	5.76	5.760
Interest Coverage	1.17	0.12	0.24	0.14	-1.05	0.18	-0.05	0.08	0.27	0.15	1.00	1.01	1.28	0.78	0.34	0.50	0.73	1.56	1.72	1.09	1.092
Equity Multiplier	2.63	2.64	2.63	2.72	2.91	2.68	2.70	2.75	2.85	2.81	2.66	2.68	2.64	2.86	2.69	2.00	1.96	1.97	1.96	2.41	2.406
Cash Ratio	snapshot only																				0.723
Debt Service Coverage	snapshot only																				2.365
Cash to Debt	snapshot only																				0.190
FCF to Debt	snapshot only																				-0.027
Defensive Interval	snapshot only																				247.6 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	0.36	0.38	0.39	0.39	0.40	0.40	0.42	0.43	0.45	0.46	0.48	0.48	0.49	0.49	0.50	0.50	0.51	0.53	0.55	0.49	0.494
Inventory Turnover	1.31	1.35	1.40	1.42	1.46	1.47	1.50	1.54	1.59	1.60	1.64	1.67	1.68	1.73	1.72	1.74	1.72	1.87	1.89	1.85	1.845
Receivables Turnover	5.95	6.04	5.90	5.77	5.87	5.46	5.43	5.37	5.60	5.30	5.37	5.44	5.50	5.14	4.81	4.90	5.16	5.22	5.11	4.98	4.979
Payables Turnover	9.70	10.12	11.50	10.05	10.94	9.93	12.22	11.17	11.21	9.86	13.08	12.02	12.43	8.93	12.75	9.36	10.86	9.44	11.32	8.70	8.704
DSO	61	60	62	63	62	67	67	68	65	69	68	67	66	71	76	74	71	70	71	73	73.3 days
DIO	279	270	261	257	249	248	244	238	229	229	222	218	218	211	212	210	212	196	193	198	197.8 days
DPO	38	36	32	36	33	37	30	33	33	37	28	30	29	41	29	39	34	39	32	42	41.9 days
Cash Conversion Cycle	303	295	291	284	278	278	281	273	262	261	262	255	255	241	260	245	250	227	232	229	229.2 days
Fixed Asset Turnover	snapshot only																				4.275
Operating Cycle	snapshot only																				271.1 days
Cash Velocity	snapshot only																				6.098
Capital Intensity	snapshot only																				2.274

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	12.7%	18.0%	18.3%	10.3%	9.2%	5.0%	4.9%	6.3%	8.3%	12.8%	15.1%	14.7%	13.3%	9.8%	5.9%	7.4%	9.8%	13.6%	17.6%	16.4%	16.40%
Net Income	1.1%	11.1%	-14.7%	-47.4%	-23.9%	-29.4%	-94.5%	-65.8%	40.8%	-59.9%	67.2%	70.6%	96.5%	56.5%	-1.2%	-1.1%	-9.7%	1.7%	1.5%	82.3%	82.35%
EPS	1.1%	12.3%	-11.5%	-43.4%	-26.4%	-25.1%	-91.7%	-62.8%	41.9%	-58.4%	72.3%	71.3%	96.6%	57.5%	-1.5%	-96.9%	-8.2%	1.6%	1.5%	83.5%	83.50%
FCF	-267.0%	-4.3%	-37.4%	-12.2%	-31.8%	3.3%	-49.9%	67.0%	90.6%	1.7%	1.5%	2.3%	9.1%	6.1%	-1.0%	-16.6%	40.1%	-1.1%	30.2%	-2.4%	-2.42%
EBITDA	1.2%	18.2%	1.7%	-21.0%	-87.8%	-1.4%	-24.0%	-5.5%	4.4%	4.2%	1.4%	1.2%	1.1%	90.3%	-30.0%	-24.5%	-27.9%	25.2%	84.5%	44.3%	44.27%
Op. Income	3.7%	2.3%	63.7%	38.6%	-1.4%	-23.6%	-91.5%	-66.7%	1.9%	-7.4%	48.6%	7.8%	4.9%	5.8%	-55.0%	-47.9%	-34.6%	-22.2%	1.3%	7.1%	7.13%
OCF Growth	snapshot only																				1.03%
Asset Growth	snapshot only																				27.86%
Equity Growth	snapshot only																				6.12%
Debt Growth	snapshot only																				54.68%
Shares Change	snapshot only																				6.97%

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	5.0%	4.4%	4.3%	4.5%	4.6%	4.3%	5.1%	8.4%	10.0%	11.8%	12.6%	10.4%	10.2%	9.1%	8.6%	9.4%	10.4%	12.0%	12.8%	12.8%	12.77%
Revenue 5Y	10.4%	10.6%	10.8%	11.0%	11.5%	10.6%	9.1%	7.7%	6.5%	6.1%	6.5%	6.8%	7.0%	7.1%	7.2%	9.5%	10.6%	11.8%	12.2%	11.0%	10.96%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	-33.7%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	-29.7%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	19.5%	7.6%	2.0%	-3.4%	-39.8%	-9.6%	-9.2%	4.8%	13.8%	6.7%	22.5%	17.5%	12.2%	25.1%	8.1%	15.7%	1.0%	35.4%	45.3%	33.2%	33.25%
EBITDA 5Y	8.7%	-2.7%	0.1%	-0.3%	-24.2%	4.6%	4.6%	5.5%	2.4%	5.1%	13.9%	13.1%	20.4%	8.0%	4.5%	13.5%	17.9%	23.7%	18.8%	12.1%	12.07%
Gross Profit 3Y	5.1%	4.5%	4.0%	4.1%	3.8%	3.4%	4.0%	7.2%	8.9%	11.0%	11.6%	9.4%	9.2%	8.0%	7.6%	8.7%	10.3%	11.5%	12.0%	11.9%	11.88%
Gross Profit 5Y	10.8%	10.7%	10.7%	10.4%	10.5%	9.5%	8.2%	6.9%	5.9%	5.8%	6.0%	6.3%	6.5%	6.3%	6.4%	8.6%	9.9%	10.8%	11.0%	9.7%	9.74%
Op. Income 3Y	45.1%	-4.5%	-17.9%	-10.6%	—	-28.6%	-62.8%	-9.8%	17.2%	33.0%	90.2%	59.5%	26.7%	68.6%	23.7%	15.1%	—	69.6%	2.7%	69.9%	69.95%
Op. Income 5Y	-2.1%	-17.9%	-14.1%	-8.4%	—	-4.9%	-18.3%	8.5%	1.1%	-9.2%	18.4%	15.9%	19.5%	17.9%	2.8%	27.5%	44.0%	65.4%	47.6%	17.8%	17.77%
FCF 3Y	—	—	—	—	—	—	—	—	—	27.3%	1.9%	68.0%	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	20.5%	-8.3%	-9.3%	-9.5%	7.3%	—	10.5%	—	—	99.7%	—	—
OCF 3Y	-26.2%	—	—	—	—	—	—	-30.0%	-0.9%	15.0%	42.8%	13.7%	1.2%	—	—	—	—	—	—	1.1%	1.07%
OCF 5Y	-33.1%	—	—	—	—	—	—	—	7.8%	13.8%	-1.3%	-2.0%	-1.9%	7.0%	-9.0%	8.4%	29.2%	25.3%	53.1%	25.7%	25.69%
Assets 3Y	12.8%	11.6%	10.0%	8.6%	7.8%	8.0%	6.8%	3.9%	-0.3%	0.1%	-0.5%	-0.9%	-0.6%	-0.2%	0.4%	3.1%	4.9%	5.1%	5.3%	11.3%	11.28%
Assets 5Y	21.5%	20.2%	19.6%	18.9%	17.9%	5.2%	5.4%	6.4%	6.3%	6.8%	6.0%	5.7%	6.3%	5.4%	5.0%	3.9%	1.9%	2.3%	2.1%	5.8%	5.75%
Equity 3Y	4.0%	3.0%	3.0%	-0.1%	-2.8%	-0.2%	0.4%	-1.6%	-5.8%	-5.0%	-0.3%	-0.8%	-0.7%	-2.8%	-0.4%	14.3%	19.8%	16.4%	17.2%	16.4%	16.40%
Book Value 3Y	-1.6%	0.8%	0.2%	-1.9%	-5.1%	-2.9%	-2.2%	-4.3%	-8.2%	-6.8%	-7.1%	-3.0%	1.3%	-4.9%	-2.3%	9.6%	12.2%	8.8%	9.4%	9.8%	9.81%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

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	0.82	0.77	0.78	0.87	0.87	0.86	0.89	0.98	0.90	0.78	0.77	0.86	0.88	0.91	0.94	0.98	0.99	0.99	0.97	0.96	0.963
Earnings Stability	0.40	0.82	0.89	0.79	0.54	0.79	0.86	0.79	0.44	0.82	0.42	0.34	0.07	0.39	0.28	0.07	0.01	0.25	0.23	0.13	0.133
Margin Stability	0.99	1.00	1.00	0.99	0.98	0.98	0.98	0.98	0.98	0.99	0.99	0.99	0.99	0.98	0.98	0.98	0.99	0.98	0.98	0.98	0.980
Rev. Growth Consistency	0.50	0.50	0.50	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	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.50	0.50	1.00	0.50	0.00	0.00	0.00	1.00	0.50	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	1	0	1	1	0	0	0	0
Earnings Persistence	0.20	0.50	0.94	0.81	0.20	0.88	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.20	0.20	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	0.03	-0.03	-0.02	-0.02	-0.14	-0.02	-0.06	-0.05	-0.01	-0.05	0.05	0.05	0.12	0.04	-0.00	0.02	0.03	0.10	0.08	0.03	0.028
Gross Margin Trend	-0.00	-0.00	-0.01	-0.01	-0.02	-0.02	-0.02	-0.02	-0.01	-0.01	-0.00	-0.00	-0.00	-0.01	-0.01	-0.00	0.00	-0.01	-0.01	-0.02	-0.015
FCF Margin Trend	-0.07	-0.08	-0.06	-0.08	-0.03	-0.03	-0.05	0.01	0.04	0.08	0.09	0.07	0.05	0.04	0.02	0.02	0.02	-0.03	0.01	-0.04	-0.045
Sustainable Growth Rate	0.6%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.7%	3.1%	—	—
Internal Growth Rate	0.2%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.2%	1.4%	—	—

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	1.19	0.17	0.01	0.65	0.10	0.27	0.37	-0.16	-0.32	-0.61	-2.02	-2.24	-26.95	-1.66	-0.50	-1.10	-3.14	3.90	4.81	-12.63	-12.626
FCF/OCF	-5.24	6.35	102.07	1.96	3.52	3.08	2.06	-1.59	-0.18	0.55	0.53	0.49	0.49	0.50	-0.04	0.39	0.55	-0.02	0.23	-0.27	-0.273
FCF/Net Income	snapshot only																				3.446
OCF/EBITDA	snapshot only																				0.696
CapEx/Revenue	4.7%	4.6%	4.8%	3.4%	3.4%	3.4%	3.5%	3.6%	2.7%	2.4%	2.5%	2.5%	3.0%	2.9%	2.9%	3.0%	3.1%	8.8%	9.5%	10.8%	10.79%
CapEx/Depreciation	snapshot only																				1.646
Accruals Ratio	-0.00	-0.02	-0.02	-0.01	-0.05	-0.02	-0.02	-0.04	-0.04	-0.06	-0.04	-0.03	-0.03	-0.05	-0.04	-0.05	-0.05	-0.03	-0.05	-0.05	-0.045
Sloan Accruals	snapshot only																				-0.019
Cash Flow Adequacy	snapshot only																				0.786

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	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%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	0.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	—	0.0%	0.0%	—	0.0%	—	—
Total Payout Ratio	1.2%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	0.0%	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.2%	0.2%	0.2%	0.2%	0.3%	0.4%	0.1%	0.1%	0.1%	0.1%	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	0.2%	0.2%	0.2%	0.2%	0.3%	0.4%	0.1%	0.1%	-0.1%	-0.0%	-0.1%	-0.1%	-0.2%	-0.2%	-0.6%	-0.5%	-0.5%	-0.6%	-0.6%	-1.0%	-1.03%
Total Shareholder Return	0.2%	0.2%	0.2%	0.2%	0.3%	0.4%	0.1%	0.1%	-0.1%	-0.0%	-0.1%	-0.1%	-0.2%	-0.2%	-0.6%	-0.5%	-0.5%	-0.6%	-0.6%	-1.0%	-1.03%

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)	1.55	1.00	1.18	1.24	1.21	1.28	1.37	1.37	1.39	1.42	-84.43	-24.31	-0.10	1.78	0.95	1.07	1.09	0.66	0.67	-1.42	-1.417
Interest Burden (EBT/EBIT)	0.06	-7.11	-3.14	-6.32	1.96	-4.59	19.88	-11.46	-2.64	-5.81	0.00	0.01	0.22	-0.28	-1.96	-1.02	-0.37	0.36	0.42	0.08	0.084
EBIT Margin	0.07	0.01	0.01	0.01	-0.06	0.01	-0.00	0.01	0.02	0.01	0.07	0.08	0.10	0.07	0.03	0.04	0.05	0.09	0.09	0.06	0.056
Asset Turnover	0.36	0.38	0.39	0.39	0.40	0.40	0.42	0.43	0.45	0.46	0.48	0.48	0.49	0.49	0.50	0.50	0.51	0.53	0.55	0.49	0.494
Equity Multiplier	2.51	2.51	2.65	2.70	2.76	2.66	2.67	2.74	2.88	2.75	2.68	2.71	2.74	2.83	2.67	2.28	2.23	2.31	2.25	2.21	2.207

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)	$0.04	$-0.38	$-0.38	$-0.43	$-1.03	$-0.47	$-0.73	$-0.70	$-0.60	$-0.75	$-0.20	$-0.20	$-0.02	$-0.32	$-0.51	$-0.40	$-0.19	$0.20	$0.24	$-0.07	$-0.07
Book Value/Share	$7.01	$7.68	$7.47	$7.03	$6.36	$7.02	$6.92	$6.93	$6.65	$6.89	$6.16	$7.08	$7.28	$6.59	$6.97	$9.25	$8.99	$9.04	$9.06	$9.18	$9.18
Tangible Book/Share	$-3.34	$-3.85	$-3.68	$-3.67	$-3.96	$-3.50	$-3.62	$-3.44	$-3.50	$-3.37	$-2.46	$-2.72	$-2.59	$-2.89	$-2.43	$0.17	$0.57	$0.76	$0.88	$-2.64	$-2.64
Revenue/Share	$6.46	$7.63	$7.65	$7.72	$7.82	$7.75	$7.91	$8.07	$8.31	$8.66	$7.69	$9.04	$9.20	$9.28	$9.24	$8.93	$8.67	$8.90	$9.22	$9.71	$9.71
FCF/Share	$-0.25	$-0.42	$-0.37	$-0.54	$-0.37	$-0.39	$-0.54	$-0.18	$-0.03	$0.25	$0.22	$0.22	$0.27	$0.26	$-0.01	$0.17	$0.32	$-0.02	$0.26	$-0.22	$-0.22
OCF/Share	$0.05	$-0.07	$-0.00	$-0.28	$-0.11	$-0.13	$-0.26	$0.11	$0.19	$0.46	$0.41	$0.45	$0.55	$0.53	$0.26	$0.43	$0.59	$0.77	$1.13	$0.82	$0.82
Cash/Share	$1.45	$1.40	$1.29	$1.01	$0.94	$0.97	$0.76	$1.20	$1.31	$1.44	$1.07	$1.32	$1.34	$1.28	$0.89	$1.18	$1.51	$1.31	$1.12	$1.59	$1.59
EBITDA/Share	$1.00	$0.67	$0.70	$0.64	$0.14	$0.63	$0.52	$0.60	$0.72	$0.66	$1.05	$1.26	$1.51	$1.22	$0.84	$0.88	$0.93	$1.29	$1.31	$1.18	$1.18
Debt/Share	$8.06	$9.24	$9.04	$8.93	$8.87	$8.81	$8.80	$8.71	$8.74	$8.76	$7.57	$8.70	$8.68	$8.65	$8.58	$5.81	$6.16	$5.89	$5.19	$8.40	$8.40
Net Debt/Share	$6.61	$7.84	$7.75	$7.93	$7.93	$7.84	$8.04	$7.52	$7.44	$7.32	$6.51	$7.38	$7.34	$7.37	$7.69	$4.63	$4.65	$4.58	$4.07	$6.81	$6.81

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.779
Altman Z-Prime	snapshot only																				3.420
Piotroski F-Score	5	4	3	3	4	2	2	5	6	5	7	5	5	4	5	5	6	6	6	4	4
Beneish M-Score	-2.40	-2.45	-2.42	-2.32	-2.57	-2.36	-2.53	-2.69	-2.65	-2.74	-2.45	-2.49	-2.47	-2.54	-2.57	-2.45	-2.43	-2.36	-2.53	-2.53	-2.528
Ohlson O-Score	snapshot only																				-6.780
Net-Net WC	snapshot only																				$-5.25
EVA	snapshot only																				$-104325541.33

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																				BB-
Credit Score	37.33	28.69	29.47	30.62	27.65	31.33	27.64	32.14	32.15	33.53	43.51	43.88	40.02	40.85	38.86	47.64	55.71	61.10	61.40	37.86	37.857
Credit Grade	snapshot only																				13
Credit Trend	snapshot only																				-9.782
Implied Spread (bps)	snapshot only																				550.000
Industry Credit Rank	snapshot only																				33
Sector Credit Rank	snapshot only																				30

AORT NYSE

Edge Score

Analyst Insights

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

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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