$36.82

+0.06 (+0.16%)

Weekly Expected Move ±3.3%

$33 $34 $35 $36 $37

NASDAQ · Financial Services · Banks - Regional · Alpha Radar Buy · Power 63 · $608.6M mcap · 14M float · 0.640% daily turnover · Short 65% 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

48.4 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 11.8% · 5Y Avg: 9.6%

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. AROW shows a Weak competitive edge (48.4/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. ROIC of 11.8% 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

Analyst Recommendations

Strong Buy: 0Buy: 0Hold: 1Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$—

Analysts0

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2025-02-04	Piper Sandler	Frank Schiraldi	$32	$30	-2	+11.4%	$26.93
2024-12-20	Piper Sandler	Frank Schiraldi	Initiated	$32	—	+10.4%	$28.98

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

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. AROW receives an overall rating of A-. Strongest factors: DCF (4/5), ROE (4/5), ROA (4/5). Areas of concern: P/B (2/5).

Rating Change History

Date	From	To
2026-05-22	B+	A-
2026-05-21	A-	B+
2026-05-20	B+	A-
2026-05-04	B	B+
2026-04-30	B+	B
2026-04-24	A-	B+
2026-04-22	B+	A-
2026-04-21	A-	B+
2026-04-01	B	A-
2026-03-02	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.

★ ★ ★ ★ ★ 59 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. AROW scores highest in Earnings Quality (90/100) and lowest in Safety (30/100). An overall grade of A places AROW 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

1.68

Grey Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✗ ✓ ✗ ✓ ✓ ✓

Beneish M-Score

-2.51

Unlikely Manipulator

Ohlson O-Score

-3.01

Bankruptcy prob: 4.7%

Low Risk

Credit Rating

A-

Score: 65.7/100

Trend: Stable

Earnings Quality

75/100

OCF/NI: 0.91x

Accruals: 0.1%

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. AROW scores 1.68, 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. AROW scores 7/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. AROW's score of -2.51 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. AROW's implied 4.7% 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. AROW receives an estimated rating of A- (score: 65.7/100), 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). AROW'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

11.80x

PEG

0.15x

P/S

2.47x

P/B

1.37x

P/FCF

13.32x

P/OCF

11.85x

EV/EBITDA

8.16x

EV/Revenue

2.23x

EV/EBIT

8.52x

EV/FCF

13.32x

Earnings Yield

9.29%

FCF Yield

7.51%

Shareholder Yield

4.73%

Graham Number

$42.97

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 11.8x earnings, AROW trades at a reasonable valuation. An earnings yield of 9.3% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $42.97 per share, suggesting a potential 17% margin of safety at 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

0.791

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

0.262

EBIT / Rev

Asset Turnover

0.056

Rev / Assets

Equity Multiplier

10.510

Assets / Equity

ROE

12.3%

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. AROW's ROE of 12.3% is driven by financial leverage (equity multiplier: 10.51x). 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.

Adj. Growth Rate

5.89%

Fair P/E

20.29x

Intrinsic Value

$63.23

Price/Value

0.53x

Margin of Safety

46.91%

Premium

-46.91%

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 AROW's realized 5.9% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $63.23, AROW appears undervalued with a 47% margin of safety. The adjusted fair P/E of 20.3x compares to the current market P/E of 11.8x.

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

$36.82

Median 1Y

$37.35

5th Pctile

$21.15

95th Pctile

$65.66

Ann. Volatility

34.8%

25th–75th percentile 5th–95th percentile Median path Historical

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
David S. DeMarco, President and CEO	$715,850	$—	$62,642
Andrew J. Wise, SEVP, CRO and Corporate Secretary	$375,950	$—	$55,983
Penko K. Ivanov, SEVP, CFO, Treasurer and CAO	$422,300	$—	$53,647
Marc J. Yrsha, SEVP and CBO	$375,950	$—	$51,309
Michael J. Jacobs EVP and CIO	$260,000	$—	$25,696
Brooke M. Pancoe, EVP and CHRO	$260,000	$—	$24,777

CEO Pay Ratio

0:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $62,642

Avg Employee Cost (SGA/emp): $146,785

Employees: 578

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

578

+4.3% YoY

Revenue / Employee

$419,687

Rev: $242,579,000

Profit / Employee

$76,043

NI: $43,953,000

SGA / Employee

$146,785

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	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	15.8%	16.4%	14.1%	13.9%	13.6%	13.3%	13.5%	12.4%	10.7%	9.5%	8.2%	8.0%	8.7%	9.0%	7.6%	7.3%	7.8%	8.8%	10.6%	12.3%	12.28%
ROA	1.5%	1.5%	1.3%	1.3%	1.2%	1.2%	1.2%	1.1%	1.0%	0.9%	0.7%	0.7%	0.8%	0.8%	0.7%	0.7%	0.7%	0.8%	1.0%	1.2%	1.17%
ROIC	-15.5%	-16.1%	-8.7%	-8.5%	-8.3%	-8.2%	-27.5%	-25.2%	-21.9%	-19.4%	-15.9%	-15.4%	-16.8%	-17.4%	-16.2%	-15.5%	-16.7%	-18.8%	10.2%	11.8%	11.84%
ROCE	14.7%	15.4%	13.5%	13.4%	13.0%	12.7%	14.2%	13.0%	11.2%	9.8%	8.1%	7.8%	8.6%	9.0%	7.8%	7.5%	8.1%	9.2%	1.5%	1.7%	1.73%
Gross Margin	95.8%	96.6%	95.2%	94.9%	93.6%	88.1%	84.4%	77.6%	67.6%	65.9%	62.9%	61.8%	61.3%	61.9%	56.3%	58.7%	66.8%	67.5%	67.7%	70.8%	70.82%
Operating Margin	45.8%	44.8%	37.2%	43.9%	40.5%	37.0%	36.1%	25.5%	16.3%	19.1%	18.1%	17.8%	19.6%	20.0%	9.5%	14.0%	23.5%	26.6%	26.7%	27.8%	27.79%
Net Margin	34.8%	34.6%	28.7%	33.9%	31.2%	28.9%	28.1%	20.0%	12.9%	15.4%	14.9%	14.0%	15.4%	15.6%	8.1%	10.8%	18.3%	20.6%	22.3%	21.6%	21.60%
EBITDA Margin	51.1%	50.0%	42.6%	49.1%	45.4%	41.8%	40.0%	29.6%	19.9%	22.1%	21.5%	20.3%	21.8%	22.4%	11.9%	16.0%	25.9%	29.1%	26.7%	27.8%	27.79%
FCF Margin	41.3%	43.5%	41.3%	37.6%	32.2%	30.4%	28.3%	25.5%	23.7%	21.1%	7.0%	6.0%	4.5%	3.6%	12.9%	12.6%	12.7%	15.1%	14.9%	16.7%	16.75%
OCF Margin	45.0%	47.1%	46.1%	43.6%	39.5%	39.6%	37.2%	33.8%	31.3%	26.5%	10.7%	8.7%	6.7%	5.7%	15.5%	15.1%	15.4%	17.5%	17.0%	18.8%	18.82%
ROE 3Y Avg	snapshot only																				8.86%
ROE 5Y Avg	snapshot only																				10.50%
ROA 3Y Avg	snapshot only																				0.84%
ROIC 3Y Avg	snapshot only																				7.55%
ROIC Economic	snapshot only																				11.21%
Cash ROA	snapshot only																				1.04%
Cash ROIC	snapshot only																				10.76%
CROIC	snapshot only																				9.57%
NOPAT Margin	snapshot only																				20.72%
Pretax Margin	snapshot only																				26.18%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				29.77%
SBC / Revenue	snapshot only																				0.47%

Valuation

Metric	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	9.06	8.65	9.33	8.78	8.91	8.55	10.07	8.13	7.69	7.67	14.54	13.47	12.91	13.84	15.53	14.99	14.03	13.37	11.73	10.77	11.798
P/S Ratio	3.07	3.01	3.14	2.90	2.86	2.62	3.06	2.19	1.71	1.44	2.28	1.93	1.93	2.08	2.07	1.88	1.86	1.96	2.12	2.23	2.466
P/B Ratio	1.36	1.35	1.25	1.16	1.15	1.08	1.39	1.03	0.85	0.75	1.15	1.03	1.08	1.20	1.15	1.06	1.07	1.15	1.19	1.28	1.370
P/FCF	7.44	6.92	7.62	7.72	8.88	8.62	10.81	8.59	7.20	6.85	32.40	32.44	42.80	58.21	15.98	14.93	14.66	12.97	14.24	13.32	13.321
P/OCF	6.82	6.39	6.82	6.65	7.25	6.62	8.23	6.48	5.46	5.46	21.25	22.18	28.63	36.41	13.38	12.44	12.11	11.22	12.48	11.85	11.854
EV/EBITDA	-2.86	-2.77	-6.67	-7.18	-7.47	-7.95	-0.56	-2.58	-4.09	-5.30	-2.97	-4.12	-3.50	-2.38	-2.87	-3.88	-3.52	-2.51	8.66	8.16	8.156
EV/Revenue	-1.38	-1.39	-3.26	-3.46	-3.50	-3.55	-0.25	-1.01	-1.33	-1.46	-0.69	-0.86	-0.75	-0.51	-0.55	-0.70	-0.68	-0.53	2.12	2.23	2.231
EV/EBIT	-3.19	-3.10	-7.48	-8.06	-8.40	-8.97	-0.63	-2.90	-4.68	-6.11	-3.50	-4.85	-4.02	-2.71	-3.29	-4.44	-4.01	-2.83	9.31	8.52	8.525
EV/FCF	-3.35	-3.20	-7.89	-9.22	-10.85	-11.70	-0.87	-3.94	-5.60	-6.92	-9.73	-14.53	-16.61	-14.38	-4.25	-5.58	-5.31	-3.50	14.24	13.32	13.323
Earnings Yield	11.0%	11.6%	10.7%	11.4%	11.2%	11.7%	9.9%	12.3%	13.0%	13.0%	6.9%	7.4%	7.7%	7.2%	6.4%	6.7%	7.1%	7.5%	8.5%	9.3%	9.29%
FCF Yield	13.4%	14.4%	13.1%	13.0%	11.3%	11.6%	9.2%	11.6%	13.9%	14.6%	3.1%	3.1%	2.3%	1.7%	6.3%	6.7%	6.8%	7.7%	7.0%	7.5%	7.51%
PEG Ratio	snapshot only																				0.145
Price/Tangible Book	snapshot only																				1.355
EV/OCF	snapshot only																				11.855
EV/Gross Profit	snapshot only																				3.271
Acquirers Multiple	snapshot only																				8.525
Shareholder Yield	snapshot only																				4.73%
Graham Number	snapshot only																				$42.97

Leverage & Solvency

Metric	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	0.23	0.23	0.29	0.29	0.29	0.29	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.16	0.16	0.16	0.16	0.04	0.04	0.040
Quick Ratio	0.23	0.23	0.29	0.29	0.29	0.29	0.18	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.16	0.16	0.16	0.16	0.04	0.04	0.040
Debt/Equity	0.26	0.26	0.19	0.19	0.19	0.19	0.30	0.30	0.30	0.30	0.19	0.19	0.19	0.19	0.08	0.08	0.08	0.08	0.07	0.07	0.068
Net Debt/Equity	-1.97	-1.97	-2.55	-2.55	-2.55	-2.55	-1.50	-1.50	-1.50	-1.50	-1.50	-1.50	-1.50	-1.50	-1.46	-1.46	-1.46	-1.46	0.00	0.00	0.000
Debt/Assets	0.02	0.02	0.02	0.02	0.02	0.02	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.007
Debt/EBITDA	1.23	1.17	0.97	0.98	1.01	1.02	1.52	1.65	1.88	2.12	1.62	1.68	1.57	1.51	0.79	0.82	0.76	0.68	0.49	0.43	0.432
Net Debt/EBITDA	-9.21	-8.75	-13.11	-13.19	-13.59	-13.82	-7.54	-8.19	-9.35	-10.55	-12.86	-13.33	-12.50	-12.03	-13.67	-14.25	-13.24	-11.84	0.00	0.00	0.001
Interest Coverage	8.93	11.27	12.40	13.38	12.40	8.51	5.56	3.16	1.61	0.99	0.65	0.52	0.52	0.51	0.45	0.44	0.48	0.56	0.72	0.85	0.854
Equity Multiplier	11.03	11.03	10.85	10.85	10.85	10.85	11.23	11.23	11.23	11.23	10.98	10.98	10.98	10.98	10.74	10.74	10.74	10.74	10.29	10.29	10.295
Cash Ratio	snapshot only																				0.040
Debt Service Coverage	snapshot only																				0.893
Cash to Debt	snapshot only																				0.998
FCF to Debt	snapshot only																				1.416
Defensive Interval	snapshot only																				102.5 days

Efficiency & Turnover

Metric	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	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.056
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Payables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DSO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	—
Fixed Asset Turnover	snapshot only																				4.153
Cash Velocity	snapshot only																				8.472
Capital Intensity	snapshot only																				18.014

Growth (YoY)

Metric	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	4.1%	4.9%	2.3%	2.6%	0.6%	2.7%	8.5%	11.8%	17.4%	19.2%	19.4%	22.4%	21.5%	20.1%	16.4%	11.5%	8.4%	6.9%	8.7%	8.8%	8.85%
Net Income	35.1%	36.7%	22.1%	6.9%	-4.5%	-9.6%	-2.1%	-8.9%	-18.8%	-26.8%	-38.4%	-34.9%	-18.3%	-4.3%	-1.2%	-2.8%	-3.7%	4.4%	47.9%	80.3%	80.29%
EPS	33.6%	35.5%	21.4%	6.5%	-4.3%	-9.6%	-5.2%	-11.5%	-21.2%	-28.9%	-38.1%	-34.1%	-16.7%	-2.5%	0.3%	-1.7%	-2.8%	6.5%	50.9%	83.3%	83.26%
FCF	83.5%	90.9%	64.2%	27.2%	-21.4%	-28.3%	-25.6%	-24.2%	-13.5%	-17.2%	-70.3%	-71.4%	-76.9%	-79.7%	1.1%	1.4%	2.1%	3.5%	25.3%	45.2%	45.17%
EBITDA	34.1%	38.9%	23.0%	9.3%	-2.5%	-8.9%	-2.4%	-9.6%	-18.5%	-26.5%	-37.2%	-34.3%	-20.0%	-6.1%	-3.4%	-3.9%	-3.0%	4.3%	39.3%	64.8%	64.78%
Op. Income	37.0%	39.9%	24.2%	9.5%	-3.4%	-9.6%	-2.3%	-10.0%	-19.9%	-28.1%	-40.4%	-37.0%	-20.4%	-5.0%	-0.4%	-1.3%	-1.9%	5.6%	48.3%	80.4%	80.42%
OCF Growth	snapshot only																				35.87%
Asset Growth	snapshot only																				3.24%
Equity Growth	snapshot only																				7.72%
Debt Growth	snapshot only																				-13.13%
Shares Change	snapshot only																				-1.62%
Dividend Growth	snapshot only																				3.97%

Growth (CAGR)

Metric	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	7.7%	7.1%	5.6%	4.8%	4.1%	4.2%	5.1%	5.6%	7.1%	8.7%	9.9%	12.0%	12.8%	13.7%	14.7%	15.1%	15.6%	15.2%	14.7%	14.1%	14.08%
Revenue 5Y	7.7%	7.6%	7.1%	7.0%	6.7%	6.9%	7.4%	7.7%	8.1%	8.5%	8.8%	9.5%	10.0%	10.1%	10.0%	9.9%	10.1%	10.5%	10.9%	11.2%	11.23%
EPS 3Y	13.5%	13.0%	10.7%	9.9%	9.9%	8.4%	7.8%	5.3%	0.2%	-4.5%	-10.7%	-14.7%	-14.4%	-14.4%	-16.2%	-16.9%	-13.9%	-9.6%	-2.1%	5.9%	5.89%
EPS 5Y	13.5%	13.8%	12.9%	12.6%	11.5%	10.5%	9.6%	6.4%	1.9%	-1.5%	-4.5%	-5.0%	-2.7%	-2.4%	-4.9%	-5.4%	-4.0%	-2.0%	1.5%	2.3%	2.28%
Net Income 3Y	14.1%	13.5%	11.2%	10.4%	10.3%	8.8%	9.2%	6.7%	1.6%	-3.3%	-9.7%	-14.1%	-14.1%	-14.1%	-15.9%	-16.8%	-13.9%	-9.9%	-3.4%	4.5%	4.51%
Net Income 5Y	14.3%	14.4%	13.4%	13.1%	12.0%	11.0%	10.7%	7.5%	2.9%	-0.7%	-3.7%	-4.4%	-2.3%	-2.0%	-4.5%	-5.1%	-3.8%	-2.0%	1.5%	2.1%	2.15%
EBITDA 3Y	14.4%	15.4%	13.0%	12.5%	12.0%	10.4%	10.3%	7.6%	2.1%	-2.4%	-9.0%	-13.4%	-14.0%	-14.4%	-16.1%	-17.0%	-14.1%	-10.4%	-5.5%	1.3%	1.33%
EBITDA 5Y	10.8%	11.4%	10.6%	10.5%	9.6%	8.9%	9.3%	7.0%	3.5%	0.6%	-2.4%	-3.3%	-1.7%	-1.5%	-4.1%	-4.7%	-3.7%	-1.9%	0.3%	0.6%	0.57%
Gross Profit 3Y	8.9%	9.5%	8.9%	8.5%	8.4%	8.0%	8.0%	7.4%	6.1%	4.5%	2.1%	0.3%	-1.0%	-1.5%	-1.9%	-1.7%	-0.3%	1.0%	3.1%	5.7%	5.73%
Gross Profit 5Y	7.7%	8.2%	7.9%	7.7%	7.3%	7.1%	7.1%	6.4%	5.3%	4.4%	3.4%	3.3%	3.7%	3.8%	3.3%	3.3%	3.9%	4.5%	5.3%	5.3%	5.30%
Op. Income 3Y	14.3%	14.9%	12.4%	11.9%	11.4%	9.9%	10.1%	7.5%	2.0%	-3.1%	-10.2%	-14.7%	-14.9%	-14.8%	-16.6%	-17.6%	-14.5%	-10.3%	-4.2%	3.9%	3.92%
Op. Income 5Y	11.9%	12.2%	11.3%	11.2%	10.1%	9.1%	9.6%	7.0%	3.0%	-0.3%	-3.7%	-4.5%	-2.5%	-1.9%	-4.5%	-5.0%	-3.7%	-1.8%	1.3%	2.0%	2.03%
FCF 3Y	18.0%	16.3%	18.3%	18.2%	12.3%	13.7%	7.9%	2.3%	7.6%	4.3%	-28.7%	-34.9%	-46.1%	-50.6%	-22.1%	-20.1%	-15.2%	-8.7%	-7.3%	-0.8%	-0.85%
FCF 5Y	15.9%	14.8%	12.9%	11.3%	5.6%	6.4%	5.2%	2.7%	2.3%	-1.4%	-18.2%	-18.6%	-22.4%	-24.4%	-4.4%	-6.4%	-2.6%	0.8%	-0.5%	-1.2%	-1.21%
OCF 3Y	18.3%	16.1%	17.6%	17.1%	11.8%	13.9%	10.8%	6.6%	12.2%	7.7%	-21.4%	-28.9%	-40.1%	-43.8%	-20.3%	-19.2%	-15.6%	-12.3%	-11.6%	-6.1%	-6.13%
OCF 5Y	17.1%	15.6%	14.5%	13.7%	8.9%	11.1%	9.6%	6.9%	6.3%	1.5%	-13.3%	-15.2%	-19.4%	-21.2%	-4.7%	-5.9%	-1.8%	1.1%	-0.5%	-1.2%	-1.19%
Assets 3Y	10.1%	10.1%	10.5%	10.5%	10.5%	10.5%	7.6%	7.6%	7.6%	7.6%	4.2%	4.2%	4.2%	4.2%	2.3%	2.3%	2.3%	2.3%	3.8%	3.8%	3.85%
Assets 5Y	8.6%	8.6%	9.1%	9.1%	9.1%	9.1%	7.5%	7.5%	7.5%	7.5%	6.9%	6.9%	6.9%	6.9%	6.2%	6.2%	6.2%	6.2%	3.8%	3.8%	3.80%
Equity 3Y	10.2%	10.2%	11.2%	11.2%	11.2%	11.2%	5.4%	5.4%	5.4%	5.4%	4.3%	4.3%	4.3%	4.3%	2.6%	2.6%	2.6%	2.6%	6.9%	6.9%	6.90%
Book Value 3Y	9.6%	9.7%	10.8%	10.7%	10.8%	10.9%	4.0%	4.1%	4.0%	4.1%	3.2%	3.6%	4.0%	4.0%	2.2%	2.4%	2.6%	2.9%	8.3%	8.3%	8.31%
Dividend 3Y	0.6%	0.7%	0.7%	1.0%	1.3%	1.6%	0.9%	0.7%	0.4%	0.1%	-0.1%	0.2%	0.5%	0.2%	0.2%	0.4%	0.8%	1.5%	2.5%	2.6%	2.64%

Growth Quality

Metric	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	0.99	0.99	0.97	0.94	0.93	0.95	0.96	0.95	0.91	0.90	0.88	0.83	0.82	0.82	0.85	0.86	0.88	0.91	0.94	0.96	0.961
Earnings Stability	0.88	0.87	0.95	0.96	0.88	0.82	0.93	0.79	0.35	0.09	0.01	0.00	0.02	0.06	0.19	0.34	0.41	0.36	0.15	0.08	0.077
Margin Stability	0.94	0.94	0.94	0.94	0.93	0.93	0.94	0.94	0.92	0.90	0.88	0.86	0.84	0.83	0.81	0.81	0.81	0.82	0.82	0.82	0.818
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	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	0.50	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	0.86	0.85	0.91	0.97	0.98	0.96	0.99	0.96	0.92	0.89	0.85	0.86	0.93	0.98	1.00	0.99	0.99	0.98	0.81	0.50	0.500
Earnings Smoothness	0.70	0.69	0.80	0.93	0.95	0.90	0.98	0.91	0.79	0.69	0.53	0.58	0.80	0.96	0.99	0.97	0.96	0.96	0.61	0.43	0.427
ROE Trend	0.02	0.02	0.01	0.00	-0.01	-0.01	0.01	-0.01	-0.03	-0.04	-0.06	-0.05	-0.04	-0.03	-0.03	-0.03	-0.02	-0.01	0.03	0.04	0.045
Gross Margin Trend	0.10	0.12	0.13	0.10	0.08	0.04	-0.01	-0.07	-0.15	-0.21	-0.25	-0.26	-0.24	-0.21	-0.19	-0.15	-0.10	-0.05	0.01	0.06	0.062
FCF Margin Trend	0.17	0.20	0.15	0.08	-0.00	-0.03	-0.05	-0.08	-0.13	-0.16	-0.28	-0.26	-0.23	-0.22	-0.05	-0.03	-0.01	0.03	0.05	0.07	0.075
Sustainable Growth Rate	10.7%	11.3%	9.5%	9.2%	8.8%	8.5%	8.7%	7.5%	5.8%	4.6%	3.3%	3.0%	3.7%	4.0%	2.9%	2.5%	3.1%	4.0%	6.0%	7.7%	7.68%
Internal Growth Rate	1.0%	1.1%	0.9%	0.9%	0.8%	0.8%	0.8%	0.7%	0.5%	0.4%	0.3%	0.3%	0.3%	0.4%	0.3%	0.2%	0.3%	0.4%	0.6%	0.7%	0.74%

Cash Flow Quality

Metric	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	1.33	1.35	1.37	1.32	1.23	1.29	1.22	1.25	1.41	1.41	0.68	0.61	0.45	0.38	1.16	1.21	1.16	1.19	0.94	0.91	0.909
FCF/OCF	0.92	0.92	0.90	0.86	0.82	0.77	0.76	0.75	0.76	0.80	0.66	0.68	0.67	0.63	0.84	0.83	0.83	0.87	0.88	0.89	0.890
FCF/Net Income	snapshot only																				0.808
OCF/EBITDA	snapshot only																				0.688
CapEx/Revenue	3.7%	3.6%	4.8%	6.0%	7.3%	9.2%	8.9%	8.3%	7.6%	5.4%	3.7%	2.8%	2.2%	2.1%	2.5%	2.5%	2.7%	2.4%	2.1%	2.1%	2.07%
CapEx/Depreciation	snapshot only																				1.750
Accruals Ratio	-0.00	-0.01	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	0.00	0.00	0.00	0.01	-0.00	-0.00	-0.00	-0.00	0.00	0.00	0.001
Sloan Accruals	snapshot only																				0.575
Cash Flow Adequacy	snapshot only																				1.914
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	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	3.5%	3.6%	3.5%	3.8%	4.0%	4.3%	3.5%	4.8%	5.9%	6.8%	4.1%	4.6%	4.4%	4.0%	4.0%	4.3%	4.3%	4.1%	3.7%	3.5%	3.20%
Dividend/Share	$0.97	$0.98	$0.98	$1.00	$1.02	$1.04	$1.02	$1.03	$1.04	$1.05	$1.06	$1.07	$1.08	$1.09	$1.09	$1.10	$1.12	$1.15	$1.15	$1.17	$1.18
Payout Ratio	32.0%	31.0%	32.7%	33.7%	35.2%	36.5%	35.7%	39.3%	45.6%	51.9%	59.8%	62.0%	57.1%	55.2%	61.6%	64.9%	60.8%	54.7%	43.0%	37.5%	37.46%
FCF Payout Ratio	26.2%	24.8%	26.7%	29.7%	35.1%	36.8%	38.4%	41.5%	42.7%	46.3%	1.3%	1.5%	1.9%	2.3%	63.3%	64.7%	63.5%	53.0%	52.2%	46.3%	46.33%
Total Payout Ratio	32.5%	36.1%	38.0%	43.4%	45.9%	42.3%	41.6%	42.9%	48.5%	54.8%	71.8%	91.9%	86.2%	83.3%	84.4%	80.1%	90.1%	84.8%	66.3%	50.9%	50.90%
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	0.07	0.07	0.07	0.08	0.09	0.10	0.11	0.11	0.11	0.11	0.07	0.07	0.07	0.06	0.06	0.06	0.07	0.08	0.07	0.07	0.075
Buyback Yield	0.1%	0.6%	0.6%	1.1%	1.2%	0.7%	0.6%	0.4%	0.4%	0.4%	0.8%	2.2%	2.3%	2.0%	1.5%	1.0%	2.1%	2.3%	2.0%	1.2%	1.25%
Net Buyback Yield	-0.3%	0.2%	0.2%	0.7%	0.8%	0.2%	0.2%	-0.1%	-0.1%	0.0%	0.7%	2.2%	2.3%	2.0%	1.5%	1.0%	2.1%	2.3%	1.9%	1.1%	1.13%
Total Shareholder Return	3.2%	3.8%	3.7%	4.5%	4.7%	4.5%	3.7%	4.8%	5.8%	6.8%	4.8%	6.8%	6.7%	6.0%	5.4%	5.3%	6.4%	6.3%	5.6%	4.6%	4.61%

DuPont Factors

Metric	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	0.77	0.77	0.77	0.77	0.77	0.78	0.78	0.78	0.79	0.80	0.80	0.80	0.79	0.80	0.79	0.79	0.78	0.79	0.79	0.791
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	1.00	1.000
EBIT Margin	0.43	0.45	0.44	0.43	0.42	0.40	0.39	0.35	0.28	0.24	0.20	0.18	0.19	0.19	0.17	0.16	0.17	0.19	0.23	0.26	0.262
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.056
Equity Multiplier	10.80	10.80	10.94	10.94	10.94	10.94	11.04	11.04	11.04	11.04	11.10	11.10	11.10	11.10	10.86	10.86	10.86	10.86	10.51	10.51	10.510

Per Share

Metric	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)	$3.02	$3.14	$3.01	$2.97	$2.89	$2.84	$2.86	$2.63	$2.28	$2.02	$1.77	$1.73	$1.90	$1.97	$1.77	$1.70	$1.85	$2.10	$2.68	$3.12	$3.12
Book Value/Share	$20.18	$20.18	$22.42	$22.41	$22.45	$22.42	$20.69	$20.72	$20.74	$20.74	$22.33	$22.52	$22.73	$22.68	$23.95	$24.04	$24.22	$24.44	$26.31	$26.33	$26.87
Tangible Book/Share	$18.75	$18.75	$20.98	$20.97	$21.01	$20.98	$19.32	$19.35	$19.36	$19.36	$20.98	$21.15	$21.35	$21.31	$22.41	$22.49	$22.66	$22.86	$24.76	$24.77	$24.77
Revenue/Share	$8.93	$9.02	$8.93	$8.98	$9.00	$9.27	$9.40	$9.74	$10.25	$10.73	$11.27	$12.06	$12.71	$13.13	$13.33	$13.60	$13.90	$14.31	$14.78	$15.05	$15.07
FCF/Share	$3.69	$3.92	$3.69	$3.37	$2.90	$2.81	$2.66	$2.49	$2.43	$2.26	$0.79	$0.72	$0.57	$0.47	$1.72	$1.71	$1.77	$2.16	$2.21	$2.52	$2.52
OCF/Share	$4.02	$4.25	$4.12	$3.92	$3.56	$3.67	$3.49	$3.29	$3.21	$2.84	$1.21	$1.05	$0.86	$0.75	$2.06	$2.05	$2.14	$2.50	$2.52	$2.83	$2.84
Cash/Share	$45.04	$45.04	$61.42	$61.39	$61.51	$61.42	$37.35	$37.40	$37.43	$37.43	$37.66	$37.96	$38.32	$38.25	$36.90	$37.05	$37.32	$37.65	$1.77	$1.78	$1.78
EBITDA/Share	$4.32	$4.54	$4.36	$4.33	$4.22	$4.14	$4.12	$3.80	$3.33	$2.95	$2.60	$2.53	$2.72	$2.82	$2.55	$2.46	$2.67	$3.01	$3.63	$4.12	$4.12
Debt/Share	$5.29	$5.29	$4.24	$4.24	$4.24	$4.24	$6.26	$6.27	$6.27	$6.27	$4.21	$4.24	$4.28	$4.27	$2.01	$2.02	$2.03	$2.05	$1.78	$1.78	$1.78
Net Debt/Share	$-39.75	$-39.75	$-57.18	$-57.16	$-57.26	$-57.18	$-31.09	$-31.14	$-31.16	$-31.16	$-33.45	$-33.72	$-34.04	$-33.97	$-34.89	$-35.03	$-35.29	$-35.60	$0.00	$0.00	$0.00

Academic Models

Metric	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-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.676
Altman Z-Prime	snapshot only																				-0.706
Piotroski F-Score	7	7	7	6	6	6	4	4	4	4	5	5	5	5	6	6	7	8	7	7	7
Beneish M-Score	-2.48	-2.51	-2.57	-2.46	-2.49	-2.33	-2.16	-2.18	-2.03	-2.07	-2.06	-2.04	-2.20	-2.27	-2.36	-2.38	-2.46	-2.44	-2.40	-2.51	-2.506
Ohlson O-Score	snapshot only																				-3.015
Net-Net WC	snapshot only																				$-242.94
EVA	snapshot only																				$7936600.00

Credit

Metric	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																				A-
Credit Score	81.85	82.71	79.47	79.60	79.92	79.65	72.28	70.77	66.91	64.38	49.96	47.22	49.44	51.28	66.41	66.15	66.07	69.57	65.30	65.66	65.656
Credit Grade	snapshot only																				7
Credit Trend	snapshot only																				-0.494
Implied Spread (bps)	snapshot only																				175.000
Industry Credit Rank	snapshot only																				54
Sector Credit Rank	snapshot only																				55

AROW NASDAQ

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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