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Also trades as: 0L7A.L (LSE) · $vol 0M

AOS NYSE

A. O. Smith Corporation
1W: -1.4% 1M: -11.3% 3M: -26.5% YTD: -15.9% 1Y: -17.0% 3Y: -11.0% 5Y: -13.6%
$57.28
+0.11 (+0.19%)
 
Weekly Expected Move ±3.7%
$52 $54 $56 $58 $60
NYSE · Industrials · Industrial - Machinery · Alpha Radar Strong Sell · Power 30 · $8.0B mcap · 137M float · 1.14% 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
51.7 / 100
NoneWeakNarrowWide
Primary source: Cost Advantage  ·  ROIC: 29.2%  ·  5Y Avg: 26.3%
Cost Advantage ★
81
Intangibles
51
Switching Cost
38
Network Effect
28
Scale
60
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. AOS shows a Weak competitive edge (51.7/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. ROIC of 29.2% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

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
$67
Low
$73
Avg Target
$80
High
Based on 4 analysts since Apr 30, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 10Hold: 18Sell: 2Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$74.00
Analysts5
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-05-04 D.A. Davidson $75 $67 -8 +12.4% $59.61
2026-05-01 Robert W. Baird $77 $70 -7 +16.0% $60.36
2026-05-01 Oppenheimer Bryan Blair $88 $80 -8 +32.6% $60.32
2026-05-01 Stifel Nicolaus Nathan Jones $78 $75 -3 +21.3% $61.84
2026-04-14 Stifel Nicolaus Nathan Jones $85 $78 -7 +16.1% $67.18
2026-02-12 Goldman Sachs Susan Maklari Initiated $69 -13.3% $79.62
2026-02-02 D.A. Davidson Matt Summerville $80 $75 -5 +0.9% $74.31
2026-01-30 Stifel Nicolaus Nathan Jones $80 $85 +5 +16.2% $73.17
2026-01-30 Robert W. Baird Michael Halloran $76 $77 +1 +5.2% $73.17
2026-01-09 Jefferies $90 $75 -15 +6.5% $70.40
2025-10-29 Stifel Nicolaus $98 $80 -18 +20.6% $66.36
2025-10-29 Robert W. Baird $81 $76 -5 +13.7% $66.84
2025-01-31 UBS Damian Karas $80 $74 -6 +10.0% $67.30
2025-01-14 Oppenheimer Bryan Blair Initiated $88 +28.8% $68.30
2024-10-23 Robert W. Baird Michael Halloran $82 $81 -1 +3.6% $78.21
2024-10-23 D.A. Davidson Matt Summerville Initiated $80 +2.3% $78.21
2024-10-22 UBS Damian Karas $75 $80 +5 +2.3% $78.21
2024-10-22 CFRA Emily Nasseff Mitsch Initiated $90 +15.1% $78.21
2024-10-14 Robert W. Baird Michael Halloran Initiated $82 +1.4% $80.87
2024-07-23 Stifel Nicolaus Nathan Jones $97 $98 +1 +19.3% $82.18
2024-07-18 Stifel Nicolaus Nathan Jones Initiated $97 +7.6% $90.14
2024-07-08 UBS Damian Karas $64 $75 +11 -7.2% $80.86
2024-04-12 Jefferies Saree Boroditsky Initiated $90 +4.3% $86.31
2022-05-20 UBS Damian Karas Initiated $64 +9.5% $58.45

Financial Rating

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

A-
May 22, 2026
DCF
4
ROE
5
ROA
5
D/E
3
P/E
3
P/B
1
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. AOS receives an overall rating of A-. Strongest factors: DCF (4/5), ROE (5/5), ROA (5/5). Areas of concern: P/B (1/5).
Rating Change History
DateFromTo
2026-02-06 A A-
2026-01-30 A- A
2026-01-29 A A-
2026-01-26 A- A
2026-01-23 A A-
2026-01-22 A- A
2026-01-21 A A-
2026-01-20 A- A
2026-01-16 A A-
2026-01-03 A- A

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.

69 Grade A+
Profitability
68
Balance Sheet
77
Earnings Quality
73
Growth
42
Value
54
Momentum
71
Safety
100
Cash Flow
85
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. AOS scores highest in Safety (100/100) and lowest in Growth (42/100). An overall grade of A+ places AOS 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
8.17
Safe Zone
Piotroski F-Score
6/9
Beneish M-Score
-2.69
Unlikely Manipulator
Ohlson O-Score
-9.31
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AAA
Score: 95.5/100
Trend: Stable
Earnings Quality
75/100
OCF/NI: 1.34x
Accruals: -5.6%
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. AOS scores 8.17, 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. AOS 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. AOS's score of -2.69 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. AOS'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. AOS receives an estimated rating of AAA (score: 95.5/100), with a stable trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). AOS'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
15.11x
PEG
3.40x
P/S
2.10x
P/B
4.24x
P/FCF
14.17x
P/OCF
12.97x
EV/EBITDA
11.55x
EV/Revenue
2.41x
EV/EBIT
12.97x
EV/FCF
14.17x
Earnings Yield
5.75%
FCF Yield
7.06%
Shareholder Yield
5.76%
Graham Number
$33.75
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 15.1x earnings, AOS trades at a reasonable valuation. An earnings yield of 5.7% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $33.75 per share, 70% 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
0.766
NI / EBT
×
Interest Burden
0.974
EBT / EBIT
×
EBIT Margin
0.186
EBIT / Rev
×
Asset Turnover
1.194
Rev / Assets
×
Equity Multiplier
1.706
Assets / Equity
=
ROE
28.2%
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. AOS's ROE of 28.2% is driven by Asset Turnover (1.194), 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.

Adj. Growth Rate
33.36%
Fair P/E
75.22x
Intrinsic Value
$285.17
Price/Value
0.23x
Margin of Safety
76.88%
Premium
-76.88%
Assessment
Undervalued
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with AOS's realized 33.4% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $285.17, AOS appears undervalued with a 77% margin of safety. The adjusted fair P/E of 75.2x compares to the current market P/E of 15.1x.

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
$57.27
Median 1Y
$56.66
5th Pctile
$34.97
95th Pctile
$91.88
Ann. Volatility
28.9%
Analyst Target
$74.00
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
Kevin J. Wheeler
Executive Chairman
$1,079,500 $3,682,036 $8,495,829
Stephen M. Shafer
President and Chief Executive Officer
$965,750 $2,678,044 $4,960,450
James F. Stern
Executive Vice President, Corporate Development, Strategy, and Secretary
$668,600 $698,611 $2,864,861
Charles T. Lauber
Executive Vice President and Chief Financial Officer
$673,800 $942,617 $2,827,341
Ming Cheng Technology
e President and Chief Technology Officer
$230,307 $1,762,511 $2,484,591
Christopher T. Howe
Senior Vice President and Chief Digital Information Officer
$109,754 $1,587,287 $1,773,540

CEO Pay Ratio

75:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $4,960,450
Avg Employee Cost (SGA/emp): $66,035
Employees: 11,500

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
11,500
-9.4% YoY
Revenue / Employee
$333,061
Rev: $3,830,200,000
Profit / Employee
$47,496
NI: $546,200,000
SGA / Employee
$66,035
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 Q2'21 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 Current
ROE 25.1% 26.6% 26.5% 27.7% 28.1% 26.9% 13.2% 13.6% 15.3% 16.7% 31.0% 32.1% 32.1% 31.2% 28.6% 28.0% 27.8% 28.5% 29.2% 28.2% 28.20%
ROA 14.2% 15.0% 14.7% 15.3% 15.6% 14.9% 6.9% 7.1% 8.0% 8.8% 17.0% 17.6% 17.6% 17.1% 16.5% 16.2% 16.1% 16.4% 17.1% 16.5% 16.53%
ROIC 33.4% 35.2% 33.4% 35.5% 36.3% 35.2% 42.3% 42.5% 42.7% 43.8% 35.1% 35.7% 35.8% 34.9% 29.9% 29.4% 29.3% 29.9% 29.9% 29.2% 29.17%
ROCE 25.1% 26.4% 26.7% 28.1% 28.7% 27.8% 9.7% 10.4% 12.4% 13.7% 32.9% 33.7% 33.5% 32.5% 29.8% 29.4% 29.3% 30.0% 32.0% 31.0% 31.01%
Gross Margin 37.4% 37.2% 36.2% 34.9% 34.5% 34.9% 37.0% 38.7% 40.0% 38.0% 37.4% 39.2% 38.6% 37.4% 37.1% 38.9% 39.3% 38.7% 38.4% 38.7% 38.67%
Operating Margin 17.2% 17.8% 17.7% 16.5% 17.3% 17.1% 19.0% 19.3% 21.3% 19.3% 18.7% 19.7% 20.2% 17.8% 17.1% 19.0% 20.4% 18.6% 18.0% 17.1% 17.11%
Net Margin 13.7% 14.4% 14.0% 12.3% 13.1% 12.6% -12.8% 13.1% 16.3% 14.4% 13.9% 15.1% 15.2% 13.3% 12.0% 14.2% 15.0% 14.0% 13.7% 12.5% 12.48%
EBITDA Margin 20.0% 20.4% 20.4% 18.2% 19.2% 18.9% -23.4% 20.1% 24.2% 21.1% 20.1% 21.8% 22.3% 19.8% 17.3% 21.2% 22.4% 20.9% 20.3% 19.6% 19.64%
FCF Margin 16.0% 16.1% 16.0% 12.9% 11.0% 10.4% 8.6% 11.4% 14.3% 14.6% 15.5% 14.8% 12.2% 12.4% 12.4% 10.7% 13.0% 14.9% 14.3% 17.0% 16.99%
OCF Margin 18.0% 18.0% 18.1% 14.8% 13.0% 12.6% 10.4% 13.2% 16.0% 16.2% 17.4% 17.0% 14.6% 15.2% 15.2% 13.5% 15.7% 17.1% 16.1% 18.6% 18.56%
ROE 3Y Avg snapshot only 29.15%
ROE 5Y Avg snapshot only 25.83%
ROA 3Y Avg snapshot only 16.96%
ROIC 3Y Avg snapshot only 24.92%
ROIC Economic snapshot only 27.44%
Cash ROA snapshot only 22.51%
Cash ROIC snapshot only 38.10%
CROIC snapshot only 34.87%
NOPAT Margin snapshot only 14.21%
Pretax Margin snapshot only 18.07%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 20.22%
SBC / Revenue snapshot only 0.38%
Valuation
Metric Trend Q2'21 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 Current
P/E Ratio 24.34 19.42 26.23 18.53 15.63 14.55 35.21 41.16 38.52 32.07 21.34 22.24 20.34 22.90 18.26 17.79 17.95 19.33 17.13 17.39 15.109
P/S Ratio 3.33 2.69 3.61 2.52 2.10 1.89 2.21 2.67 2.82 2.52 3.08 3.32 2.99 3.30 2.55 2.44 2.46 2.68 2.44 2.41 2.099
P/B Ratio 5.81 4.91 6.97 5.15 4.41 3.93 4.75 5.72 6.03 5.49 6.44 6.96 6.36 6.97 5.17 4.94 4.94 5.44 5.04 4.94 4.245
P/FCF 20.81 16.71 22.58 19.56 19.05 18.10 25.85 23.42 19.76 17.33 19.87 22.41 24.39 26.56 20.56 22.86 18.82 17.93 17.14 14.17 14.172
P/OCF 18.56 14.92 19.93 17.05 16.18 15.05 21.20 20.20 17.65 15.59 17.72 19.55 20.43 21.74 16.74 18.09 15.62 15.64 15.17 12.97 12.971
EV/EBITDA 15.69 12.61 17.47 12.20 10.18 9.28 26.40 30.29 27.95 23.36 14.16 14.99 13.74 15.45 12.45 12.01 12.05 12.97 11.50 11.55 11.546
EV/Revenue 3.16 2.53 3.49 2.41 1.99 1.78 2.18 2.64 2.79 2.49 3.03 3.27 2.93 3.25 2.54 2.43 2.44 2.66 2.44 2.41 2.407
EV/EBIT 17.86 14.23 19.63 13.65 11.35 10.36 35.11 39.47 35.18 28.91 15.65 16.54 15.18 17.13 13.86 13.41 13.47 14.48 12.83 12.97 12.975
EV/FCF 19.76 15.72 21.85 18.71 18.07 17.06 25.49 23.15 19.54 17.13 19.52 22.04 23.96 26.13 20.43 22.72 18.70 17.83 17.14 14.17 14.171
Earnings Yield 4.1% 5.2% 3.8% 5.4% 6.4% 6.9% 2.8% 2.4% 2.6% 3.1% 4.7% 4.5% 4.9% 4.4% 5.5% 5.6% 5.6% 5.2% 5.8% 5.7% 5.75%
FCF Yield 4.8% 6.0% 4.4% 5.1% 5.3% 5.5% 3.9% 4.3% 5.1% 5.8% 5.0% 4.5% 4.1% 3.8% 4.9% 4.4% 5.3% 5.6% 5.8% 7.1% 7.06%
PEG Ratio snapshot only 3.400
Price/Tangible Book snapshot only 11.689
EV/OCF snapshot only 12.969
EV/Gross Profit snapshot only 6.209
Acquirers Multiple snapshot only 12.978
Shareholder Yield snapshot only 5.76%
Graham Number snapshot only $33.75
Leverage & Solvency
Metric Trend Q2'21 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 Current
Current Ratio 1.83 1.83 1.57 1.57 1.57 1.57 1.75 1.75 1.75 1.75 1.59 1.59 1.59 1.59 1.55 1.55 1.55 1.55 1.50 1.50 1.497
Quick Ratio 1.49 1.49 1.17 1.17 1.17 1.17 1.20 1.20 1.20 1.20 1.06 1.06 1.06 1.06 0.96 0.96 0.96 0.96 0.94 0.94 0.942
Debt/Equity 0.08 0.08 0.12 0.12 0.12 0.12 0.21 0.21 0.21 0.21 0.08 0.08 0.08 0.08 0.12 0.12 0.12 0.12 0.10 0.10 0.103
Net Debt/Equity -0.29 -0.29 -0.23 -0.23 -0.23 -0.23 -0.07 -0.07 -0.07 -0.07 -0.11 -0.11 -0.11 -0.11 -0.03 -0.03 -0.03 -0.03 -0.00 -0.00 -0.001
Debt/Assets 0.05 0.05 0.06 0.06 0.06 0.06 0.11 0.11 0.11 0.11 0.05 0.05 0.05 0.05 0.07 0.07 0.07 0.07 0.06 0.06 0.061
Debt/EBITDA 0.23 0.22 0.31 0.30 0.29 0.30 1.18 1.13 0.98 0.90 0.19 0.18 0.19 0.19 0.28 0.28 0.28 0.28 0.24 0.24 0.242
Net Debt/EBITDA -0.83 -0.80 -0.58 -0.56 -0.55 -0.56 -0.37 -0.35 -0.31 -0.28 -0.25 -0.25 -0.25 -0.25 -0.08 -0.08 -0.08 -0.08 -0.00 -0.00 -0.001
Interest Coverage 126.91 153.74 146.49 137.69 112.68 88.62 24.80 21.03 20.72 22.94 62.12 84.88 120.46 136.70 104.27 80.10 60.24 52.15 54.03 39.95 39.955
Equity Multiplier 1.71 1.71 1.90 1.90 1.90 1.90 1.91 1.91 1.91 1.91 1.74 1.74 1.74 1.74 1.72 1.72 1.72 1.72 1.69 1.69 1.691
Cash Ratio snapshot only 0.224
Debt Service Coverage snapshot only 44.898
Cash to Debt snapshot only 1.006
FCF to Debt snapshot only 3.371
Defensive Interval snapshot only 367.3 days
Efficiency & Turnover
Metric Trend Q2'21 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 Current
Asset Turnover 1.04 1.09 1.07 1.13 1.16 1.15 1.10 1.10 1.10 1.12 1.18 1.18 1.20 1.19 1.18 1.18 1.17 1.19 1.20 1.19 1.194
Inventory Turnover 6.61 6.98 5.96 6.38 6.63 6.61 5.04 4.94 4.83 4.85 4.67 4.68 4.78 4.75 4.59 4.58 4.55 4.58 4.63 4.62 4.616
Receivables Turnover 5.49 5.75 5.80 6.15 6.32 6.25 6.18 6.16 6.15 6.25 6.55 6.57 6.67 6.62 6.71 6.69 6.66 6.73 6.82 6.78 6.785
Payables Turnover 3.61 3.81 3.32 3.55 3.69 3.69 3.54 3.48 3.39 3.41 3.86 3.87 3.95 3.93 3.98 3.96 3.94 3.96 4.29 4.27 4.272
DSO 66 63 63 59 58 58 59 59 59 58 56 56 55 55 54 55 55 54 54 54 53.8 days
DIO 55 52 61 57 55 55 72 74 76 75 78 78 76 77 79 80 80 80 79 79 79.1 days
DPO 101 96 110 103 99 99 103 105 108 107 95 94 92 93 92 92 93 92 85 85 85.4 days
Cash Conversion Cycle 21 20 14 14 14 15 28 28 27 27 39 39 39 39 42 42 42 42 47 47 47.4 days
Fixed Asset Turnover snapshot only 5.594
Operating Cycle snapshot only 132.9 days
Cash Velocity snapshot only 19.730
Capital Intensity snapshot only 0.824
Growth (YoY)
Metric Trend Q2'21 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 Current
Revenue 16.0% 20.1% 22.2% 23.8% 19.6% 12.9% 6.1% -0.1% -3.0% -0.3% 2.6% 3.3% 5.1% 2.4% -0.9% -1.6% -3.5% -1.6% 0.3% 0.2% 0.23%
Net Income 48.0% 47.8% 41.2% 30.3% 17.2% 6.0% -51.6% -52.3% -47.1% -39.6% 1.4% 1.4% 1.1% 87.6% -4.1% -9.5% -10.0% -5.5% 2.4% 1.0% 0.96%
EPS 48.4% 49.6% 43.6% 33.9% 20.1% 8.0% -49.4% -50.3% -44.9% -37.0% 1.4% 1.4% 1.2% 93.3% -1.7% -7.0% -7.4% -1.2% 6.6% 4.8% 4.76%
FCF 17.5% 19.2% 12.0% -12.5% -17.8% -26.7% -43.3% -11.5% 25.7% 39.0% 86.1% 34.3% -9.9% -12.6% -20.7% -29.1% 2.9% 18.2% 15.2% 59.2% 59.25%
EBITDA 37.4% 36.1% 33.2% 25.8% 15.9% 8.2% -56.2% -55.9% -50.5% -44.6% 1.7% 1.6% 1.2% 1.0% -5.6% -8.8% -8.4% -4.0% 4.7% 3.4% 3.37%
Op. Income 46.0% 42.9% 36.1% 28.7% 19.1% 11.7% 7.6% 4.9% 7.5% 14.6% 15.5% 12.1% 6.6% -0.7% -5.5% -7.4% -7.8% -3.3% 1.7% 0.1% 0.10%
OCF Growth snapshot only 37.67%
Asset Growth snapshot only -3.00%
Equity Growth snapshot only -1.35%
Debt Growth snapshot only -11.35%
Shares Change snapshot only -3.63%
Dividend Growth snapshot only 2.29%
Growth (CAGR)
Metric Trend Q2'21 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 Current
Revenue 3Y 0.9% 2.4% 3.5% 6.0% 7.8% 7.7% 7.8% 9.1% 10.4% 10.6% 10.0% 8.5% 6.8% 4.9% 2.6% 0.5% -0.6% 0.1% 0.7% 0.6% 0.61%
Revenue 5Y 4.6% 5.2% 5.7% 6.1% 6.1% 5.4% 4.6% 4.2% 3.5% 3.9% 3.9% 4.2% 5.0% 5.0% 5.0% 5.7% 6.4% 6.4% 5.8% 4.7% 4.72%
EPS 3Y 12.6% 13.7% 5.3% 7.8% 9.3% 8.7% -11.9% -7.8% -0.6% 0.6% 20.7% 17.5% 12.7% 9.5% 6.4% 4.0% 3.3% 6.3% 36.4% 33.4% 33.36%
EPS 5Y 9.0% 9.7% 10.4% 10.6% 10.6% 9.0% -2.0% -2.1% -1.1% -0.0% 7.4% 8.7% 9.2% 9.4% 10.2% 12.1% 14.5% 14.2% 13.0% 9.6% 9.56%
Net Income 3Y 10.2% 11.1% 3.1% 5.4% 7.0% 6.9% -14.0% -9.9% -2.8% -1.8% 17.3% 13.9% 9.3% 6.3% 3.1% 0.9% 0.1% 2.3% 32.3% 29.5% 29.52%
Net Income 5Y 7.0% 7.6% 8.3% 8.4% 8.4% 6.8% -4.5% -4.6% -3.7% -2.6% 4.6% 5.8% 6.4% 6.7% 7.6% 9.5% 11.7% 10.9% 9.6% 6.2% 6.18%
EBITDA 3Y 1.3% 2.7% 3.5% 5.7% 7.0% 7.0% -18.0% -14.3% -7.6% -6.5% 15.8% 12.8% 8.8% 6.5% 3.2% 1.3% 0.6% 2.4% 37.9% 34.6% 34.57%
EBITDA 5Y 4.8% 5.1% 5.8% 6.0% 6.2% 5.0% -12.4% -11.7% -9.8% -8.3% 5.2% 6.1% 6.4% 6.5% 6.7% 8.2% 10.2% 9.6% 8.9% 6.2% 6.22%
Gross Profit 3Y -1.6% -0.5% 0.1% 2.2% 3.4% 3.1% 4.0% 6.4% 9.8% 10.6% 10.2% 8.9% 6.9% 5.3% 3.5% 2.0% 1.7% 3.2% 3.9% 2.8% 2.83%
Gross Profit 5Y 2.9% 3.1% 3.2% 3.3% 3.1% 2.2% 1.4% 1.6% 1.7% 2.5% 2.6% 3.2% 3.9% 4.0% 4.3% 5.1% 6.3% 6.5% 6.1% 5.0% 5.01%
Op. Income 3Y 1.0% 2.7% 3.4% 6.9% 8.9% 9.3% 12.1% 17.2% 23.2% 22.3% 19.1% 14.8% 10.9% 8.3% 5.5% 2.8% 1.8% 3.2% 3.5% 1.3% 1.27%
Op. Income 5Y 4.9% 5.3% 5.8% 6.3% 6.7% 5.8% 4.7% 5.2% 5.7% 6.7% 6.5% 7.5% 8.1% 8.3% 9.0% 10.8% 12.9% 11.9% 10.2% 7.0% 6.99%
FCF 3Y 16.2% 12.7% 15.9% 12.5% 8.0% 3.2% -6.4% -0.4% 6.7% 6.7% 5.8% 1.3% -2.3% -3.8% -5.8% -5.5% 5.2% 12.8% 19.4% 14.9% 14.91%
FCF 5Y 7.4% 12.7% 9.1% 7.9% 8.3% 10.2% 6.7% 8.3% 10.1% 7.9% 10.4% 11.1% 7.4% 5.9% 3.9% -1.2% 2.4% 4.6% 1.6% 3.3% 3.27%
OCF 3Y 10.7% 9.3% 12.6% 9.0% 6.0% 2.9% -5.0% 0.4% 6.7% 6.7% 6.0% 2.4% -0.3% -1.0% -3.2% -2.4% 6.1% 11.0% 16.4% 12.7% 12.66%
OCF 5Y 5.4% 10.0% 7.5% 6.2% 6.5% 7.5% 3.7% 5.4% 7.0% 5.8% 8.3% 9.0% 6.5% 6.1% 5.0% 1.0% 3.9% 5.3% 1.9% 2.9% 2.93%
Assets 3Y -0.4% -0.4% 4.2% 4.2% 4.2% 4.2% 2.9% 2.9% 2.9% 2.9% 0.6% 0.6% 0.6% 0.6% -2.3% -2.3% -2.3% -2.3% -1.9% -1.9% -1.93%
Assets 5Y 3.6% 3.6% 3.7% 3.7% 3.7% 3.7% 0.8% 0.8% 0.8% 0.8% 0.9% 0.9% 0.9% 0.9% 1.2% 1.2% 1.2% 1.2% -0.1% -0.1% -0.11%
Equity 3Y 3.9% 3.9% 2.2% 2.2% 2.2% 2.2% 1.6% 1.6% 1.6% 1.6% -0.1% -0.1% -0.1% -0.1% 0.9% 0.9% 0.9% 0.9% 2.1% 2.1% 2.06%
Book Value 3Y 6.2% 6.3% 4.4% 4.5% 4.4% 3.9% 4.0% 4.0% 3.9% 4.1% 2.8% 3.1% 3.0% 3.0% 4.1% 4.1% 4.2% 4.9% 5.2% 5.1% 5.08%
Dividend 3Y 4.8% 4.9% 4.5% 4.3% 4.0% 3.3% 3.7% 3.6% 3.4% 3.6% 4.1% 4.5% 4.5% 4.4% 4.5% 4.4% 4.4% 5.0% 4.0% 3.7% 3.74%
Growth Quality
Metric Trend Q2'21 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 Current
Revenue Stability 0.40 0.47 0.52 0.54 0.55 0.58 0.60 0.60 0.53 0.60 0.63 0.71 0.82 0.91 0.88 0.73 0.65 0.69 0.71 0.70 0.696
Earnings Stability 0.28 0.37 0.41 0.49 0.48 0.53 0.01 0.00 0.01 0.02 0.02 0.06 0.12 0.15 0.26 0.27 0.29 0.31 0.36 0.21 0.209
Margin Stability 0.96 0.96 0.95 0.95 0.94 0.94 0.94 0.95 0.95 0.94 0.95 0.95 0.96 0.95 0.96 0.97 0.97 0.96 0.96 0.97 0.974
Rev. Growth Consistency 0.50 0.50 0.50 1.00 1.00 1.00 1.00 0.00 0.00 0.00 1.00 0.50 0.50 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.500
Earn. Growth Consistency 0.50 0.50 0.50 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.500
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 0.81 0.81 0.84 0.88 0.93 0.98 0.50 0.50 0.81 0.84 0.50 0.50 0.50 0.50 0.98 0.96 0.96 0.98 0.99 1.00 0.996
Earnings Smoothness 0.61 0.61 0.66 0.74 0.84 0.94 0.30 0.29 0.38 0.51 0.19 0.18 0.29 0.39 0.96 0.90 0.89 0.94 0.98 0.99 0.990
ROE Trend 0.03 0.04 0.06 0.07 0.07 0.05 -0.09 -0.11 -0.10 -0.09 0.10 0.10 0.09 0.08 0.06 0.05 0.04 0.04 0.00 -0.01 -0.011
Gross Margin Trend -0.01 -0.01 -0.02 -0.02 -0.03 -0.03 -0.02 -0.01 0.01 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.00 0.00 0.01 0.00 0.004
FCF Margin Trend 0.03 0.02 0.01 -0.04 -0.05 -0.06 -0.08 -0.04 0.01 0.01 0.03 0.03 -0.00 -0.00 0.00 -0.02 -0.00 0.01 0.00 0.04 0.042
Sustainable Growth Rate 15.7% 17.1% 17.2% 18.3% 18.6% 17.4% 3.3% 3.6% 5.2% 6.6% 20.8% 21.8% 21.7% 20.7% 18.4% 17.7% 17.4% 18.0% 18.7% 17.7% 17.69%
Internal Growth Rate 9.8% 10.7% 10.6% 11.3% 11.5% 10.7% 1.7% 1.9% 2.8% 3.6% 12.9% 13.6% 13.5% 12.8% 11.9% 11.4% 11.2% 11.6% 12.3% 11.6% 11.57%
Cash Flow Quality
Metric Trend Q2'21 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 Current
OCF/Net Income 1.31 1.30 1.32 1.09 0.97 0.97 1.66 2.04 2.18 2.06 1.20 1.14 1.00 1.05 1.09 0.98 1.15 1.24 1.13 1.34 1.341
FCF/OCF 0.89 0.89 0.88 0.87 0.85 0.83 0.82 0.86 0.89 0.90 0.89 0.87 0.84 0.82 0.81 0.79 0.83 0.87 0.89 0.92 0.915
FCF/Net Income snapshot only 1.227
OCF/EBITDA snapshot only 0.890
CapEx/Revenue 1.9% 1.9% 2.1% 1.9% 1.9% 2.1% 1.9% 1.8% 1.7% 1.6% 1.9% 2.2% 2.4% 2.8% 2.8% 2.8% 2.7% 2.2% 1.8% 1.6% 1.57%
CapEx/Depreciation snapshot only 0.680
Accruals Ratio -0.04 -0.05 -0.05 -0.01 0.01 0.00 -0.05 -0.07 -0.10 -0.09 -0.03 -0.02 0.00 -0.01 -0.01 0.00 -0.02 -0.04 -0.02 -0.06 -0.056
Sloan Accruals snapshot only -0.049
Cash Flow Adequacy snapshot only 2.756
Earnings Quality Score snapshot only 0.750
Dividends & Buybacks
Metric Trend Q2'21 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 Current
Dividend Yield 1.5% 1.8% 1.3% 1.8% 2.2% 2.4% 2.1% 1.8% 1.7% 1.9% 1.5% 1.4% 1.6% 1.5% 2.0% 2.1% 2.1% 1.9% 2.1% 2.1% 2.48%
Dividend/Share $1.02 $1.04 $1.06 $1.09 $1.10 $1.12 $1.16 $1.17 $1.19 $1.20 $1.23 $1.25 $1.27 $1.29 $1.31 $1.33 $1.35 $1.39 $1.40 $1.41 $1.42
Payout Ratio 37.3% 35.9% 34.9% 33.8% 33.7% 35.5% 75.2% 73.5% 65.8% 60.8% 33.0% 32.1% 32.5% 33.6% 35.7% 36.8% 37.4% 36.7% 35.8% 37.3% 37.28%
FCF Payout Ratio 31.9% 30.9% 30.1% 35.7% 41.0% 44.1% 55.2% 41.8% 33.7% 32.8% 30.7% 32.4% 38.9% 39.0% 40.2% 47.3% 39.2% 34.0% 35.8% 30.4% 30.38%
Total Payout Ratio 82.2% 81.2% 1.1% 1.1% 1.0% 1.2% 2.5% 2.2% 1.7% 1.6% 88.0% 88.9% 1.0% 1.0% 93.0% 1.0% 1.2% 1.1% 1.1% 1.0% 1.00%
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 0.09 0.09 0.09 0.08 0.08 0.07 0.06 0.05 0.05 0.05 0.05 0.05 0.06 0.05 0.06 0.06 0.06 0.05 0.05 0.04 0.044
Buyback Yield 1.8% 2.3% 2.9% 4.3% 4.4% 6.1% 4.9% 3.5% 2.7% 2.9% 2.6% 2.6% 3.3% 3.0% 3.1% 3.8% 4.3% 3.9% 4.3% 3.6% 3.61%
Net Buyback Yield 1.8% 2.3% 2.9% 4.3% 4.4% 6.1% 4.9% 3.5% 2.7% 2.9% 2.6% 2.6% 3.3% 3.0% 3.1% 3.8% 4.3% 3.9% 4.3% 3.6% 3.61%
Total Shareholder Return 3.4% 4.2% 4.2% 6.1% 6.6% 8.5% 7.0% 5.3% 4.4% 4.8% 4.1% 4.0% 4.9% 4.4% 5.1% 5.9% 6.4% 5.8% 6.4% 5.8% 5.75%
DuPont Factors
Metric Trend Q2'21 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 Current
Tax Burden (NI/EBT) 0.78 0.78 0.78 0.78 0.77 0.76 1.05 1.02 0.97 0.95 0.76 0.76 0.77 0.77 0.76 0.76 0.76 0.76 0.76 0.77 0.766
Interest Burden (EBT/EBIT) 0.99 0.99 0.99 0.99 0.99 0.99 0.96 0.95 0.95 0.96 0.98 0.99 0.99 0.99 1.00 1.00 1.00 0.99 0.98 0.97 0.974
EBIT Margin 0.18 0.18 0.18 0.18 0.18 0.17 0.06 0.07 0.08 0.09 0.19 0.20 0.19 0.19 0.18 0.18 0.18 0.18 0.19 0.19 0.186
Asset Turnover 1.04 1.09 1.07 1.13 1.16 1.15 1.10 1.10 1.10 1.12 1.18 1.18 1.20 1.19 1.18 1.18 1.17 1.19 1.20 1.19 1.194
Equity Multiplier 1.77 1.77 1.80 1.80 1.80 1.80 1.90 1.90 1.90 1.90 1.82 1.82 1.82 1.82 1.73 1.73 1.73 1.73 1.71 1.71 1.706
Per Share
Metric Trend Q2'21 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 Current
EPS (Diluted TTM) $2.73 $2.91 $3.04 $3.22 $3.28 $3.14 $1.54 $1.60 $1.81 $1.98 $3.72 $3.89 $3.91 $3.83 $3.66 $3.62 $3.62 $3.78 $3.90 $3.79 $3.79
Book Value/Share $11.43 $11.51 $11.44 $11.57 $11.61 $11.62 $11.41 $11.51 $11.53 $11.56 $12.34 $12.44 $12.50 $12.57 $12.92 $13.04 $13.13 $13.41 $13.28 $13.35 $13.49
Tangible Book/Share $6.04 $6.09 $5.24 $5.30 $5.32 $5.33 $5.09 $5.14 $5.15 $5.16 $5.85 $5.90 $5.92 $5.96 $5.49 $5.54 $5.58 $5.70 $5.61 $5.64 $5.64
Revenue/Share $19.93 $21.03 $22.09 $23.67 $24.42 $24.19 $24.51 $24.64 $24.66 $25.14 $25.78 $26.06 $26.62 $26.54 $26.19 $26.34 $26.42 $27.27 $27.37 $27.39 $27.39
FCF/Share $3.19 $3.38 $3.53 $3.05 $2.69 $2.53 $2.10 $2.81 $3.52 $3.66 $4.00 $3.86 $3.26 $3.30 $3.25 $2.82 $3.45 $4.07 $3.90 $4.65 $4.65
OCF/Share $3.58 $3.79 $4.00 $3.49 $3.17 $3.04 $2.56 $3.26 $3.94 $4.07 $4.49 $4.43 $3.89 $4.03 $3.99 $3.56 $4.16 $4.67 $4.41 $5.08 $5.08
Cash/Share $4.26 $4.29 $3.94 $3.99 $4.00 $4.01 $3.15 $3.17 $3.18 $3.19 $2.43 $2.45 $2.46 $2.48 $1.89 $1.91 $1.92 $1.97 $1.38 $1.39 $1.47
EBITDA/Share $4.02 $4.21 $4.42 $4.67 $4.77 $4.64 $2.02 $2.15 $2.46 $2.68 $5.51 $5.68 $5.68 $5.58 $5.33 $5.32 $5.35 $5.60 $5.81 $5.71 $5.71
Debt/Share $0.91 $0.92 $1.37 $1.38 $1.39 $1.39 $2.40 $2.42 $2.42 $2.43 $1.04 $1.05 $1.05 $1.06 $1.49 $1.50 $1.51 $1.54 $1.37 $1.38 $1.38
Net Debt/Share $-3.35 $-3.37 $-2.57 $-2.60 $-2.61 $-2.62 $-0.75 $-0.76 $-0.76 $-0.76 $-1.39 $-1.40 $-1.41 $-1.42 $-0.41 $-0.41 $-0.41 $-0.42 $-0.01 $-0.01 $-0.01
Academic Models
Metric Trend Q2'21 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 Current
Altman Z-Score 8.165
Altman Z-Prime snapshot only 14.006
Piotroski F-Score 8 7 7 7 6 6 7 7 6 7 7 7 5 6 5 4 6 6 7 6 6
Beneish M-Score -2.62 -2.63 -2.50 -2.33 -2.27 -2.28 -2.78 -2.97 -3.10 -3.04 -2.63 -2.58 -2.43 -2.49 -2.60 -2.51 -2.65 -2.72 -2.54 -2.69 -2.689
Ohlson O-Score snapshot only -9.308
ROIC (Greenblatt) snapshot only 63.69%
Net-Net WC snapshot only $0.05
EVA snapshot only $355929282.71
Credit
Metric Trend Q2'21 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 Current
Credit Rating snapshot only AAA
Credit Score 95.86 95.78 95.78 95.94 95.98 95.88 94.75 94.38 95.77 95.54 95.54 95.51 95.59 95.40 95.51 95.66 95.57 95.38 95.49 95.51 95.506
Credit Grade snapshot only 1
Credit Trend snapshot only -0.158
Implied Spread (bps) snapshot only 50.000
Industry Credit Rank snapshot only 89
Sector Credit Rank snapshot only 91

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