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Not Investment Advice

AWI NYSE

Armstrong World Industries, Inc.
1W: +0.2% 1M: -3.5% 3M: +2.3% YTD: -17.1% 1Y: -16.6% 3Y: +133.7% 5Y: +69.7%
$163.12
+0.44 (+0.27%)
 
Weekly Expected Move ±2.9%
$154 $158 $163 $168 $173
NYSE · Basic Materials · Construction Materials · Tech Score Sell · Power 47 · $6.9B mcap · 42M float · 1.05% daily turnover · Short 41% 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.

NARROW EDGE
64.3 / 100
NoneWeakNarrowWide
Primary source: Switching Costs  ·  ROIC: 27.5%  ·  5Y Avg: 20.4%
Cost Advantage
64
Intangibles
59
Switching Cost
75
Network Effect
53
Scale
67
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. AWI has a Narrow competitive edge (64.3/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Switching Costs. ROIC of 27.5% 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
$190
Low
$210
Avg Target
$230
High
Based on 4 analysts since Jul 28, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 15Hold: 11Sell: 1Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$209.50
Analysts4
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-09-08 Truist Financial Keith Hughes $195 $230 +35 +34.5% $171.06
2026-08-24 D.A. Davidson — Initiated $215 — +20.6% $178.25
2026-07-29 UBS — $195 $203 +8 +14.0% $178.00
2026-07-29 Jefferies Philip Ng $71 $190 +119 +6.4% $178.65
2026-04-29 UBS — $200 $195 -5 +13.2% $172.25
2026-04-28 Evercore ISI — $140 $200 +60 +17.8% $169.84
2025-10-29 UBS John Lovallo $82 $200 +118 +3.7% $192.91
2025-10-20 Vertical Research — Initiated $238 — +19.5% $199.22
2025-07-30 Truist Financial — $162 $195 +33 +2.6% $189.98
2025-07-30 Loop Capital Markets — $145 $190 +45 +0.0% $189.98
2024-10-30 Evercore ISI Stephen Kim $80 $140 +60 -0.3% $140.35
2024-10-30 Bank of America Securities Rafe Jadrosich Initiated $161 — +13.2% $142.21
2024-10-30 Truist Financial Keith Hughes Initiated $162 — +13.8% $142.38
2024-10-30 Loop Capital Markets Garik Shmois $75 $145 +70 +3.6% $140.00
2024-07-30 Goldman Sachs Susan Maklari $86 $145 +59 +9.7% $132.17
2023-01-13 Evercore ISI — Initiated $80 — +6.8% $74.91
2023-01-12 Goldman Sachs — Initiated $86 — +14.7% $75.00
2023-01-05 Loop Capital Markets — Initiated $75 — +8.8% $68.96
2022-12-13 Jefferies — Initiated $71 — -3.2% $73.37
2022-07-27 UBS — Initiated $82 — -2.4% $84.01

Financial Rating

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

B+
Oct 02, 2026
DCF
4
ROE
5
ROA
5
D/E
1
P/E
2
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. AWI receives an overall rating of B+. Strongest factors: DCF (4/5), ROE (5/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (1/5).
Rating Change History
DateFromTo
2026-07-29 A- B+
2026-07-28 B+ A-
2026-05-01 A- B+
2026-04-30 B+ A-
2026-04-01 A- B+
2026-01-03 B+ 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.

★ ★ ★ ★ ★ 67 Grade A+
Profitability
82
Balance Sheet
67
Earnings Quality
81
Growth
53
Value
47
Momentum
75
Safety
100
Cash Flow
62
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. AWI scores highest in Safety (100/100) and lowest in Value (47/100). An overall grade of A+ places AWI 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
6.62
Safe Zone
Piotroski F-Score
7/9
✓ ✓ ✓ ✓ ✓ ✗ ✓ ✗ ✓
Beneish M-Score
-2.38
Unlikely Manipulator
Ohlson O-Score
-7.69
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AA
Score: 88.5/100
Trend: Improving
Earnings Quality
100/100
OCF/NI: 1.14x
Accruals: -2.2%
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. AWI scores 6.62, 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. AWI 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. AWI's score of -2.38 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. AWI'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. AWI receives an estimated rating of AA (score: 88.5/100), with a improving 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). AWI's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E
22.31x
PEG
2.98x
P/S
4.07x
P/B
7.84x
P/FCF
26.81x
P/OCF
19.09x
EV/EBITDA
12.53x
EV/Revenue
4.34x
EV/EBIT
18.03x
EV/FCF
28.77x
Earnings Yield
4.60%
FCF Yield
3.73%
Shareholder Yield
4.09%
Graham Number
$58.66
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 22.3x earnings, AWI commands a growth premium. Graham's intrinsic value formula yields $58.66 per share, 178% 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
0.770
NI / EBT
×
Interest Burden
1.005
EBT / EBIT
×
EBIT Margin
0.240
EBIT / Rev
×
Asset Turnover
0.876
Rev / Assets
×
Equity Multiplier
2.247
Assets / Equity
=
ROE
36.6%
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. AWI's ROE of 36.6% is driven by Asset Turnover (0.876), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate
15.00%
Fair P/E
38.50x
Intrinsic Value
$284.29
Price/Value
0.56x
Margin of Safety
43.57%
Premium
-43.57%
Assessment
Neutral
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with AWI's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. AWI actually compounded EPS at 16.4% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. AWI trades at a -44% premium to its adjusted intrinsic value of $284.29, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 22.3x.

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
$163.21
Median 1Y
$168.69
5th Pctile
$98.38
95th Pctile
$291.03
Ann. Volatility
31.9%
Analyst Target
$209.50
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

ExecutiveSalaryStockTotal
Victor D. Grizzle
President & Chief Executive Officer
$1,000,000 $5,599,532 $8,537,000
Mark A. Hershey
Senior Vice President & Chief Operating Officer
$555,573 $874,959 $2,068,753
Christopher P. Calzaretta
Senior Vice President & Chief Financial Officer
$515,000 $777,891 $1,830,769
Austin K. So
Former Senior Vice President, GC, Head of Government Relations & Chief Sustainability Officer
$477,318 $659,657 $1,615,244
Jill A. Crager
Senior Vice President Sales & Digital Marketing
$425,000 $529,117 $1,348,651

CEO Pay Ratio

96:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $8,537,000
Avg Employee Cost (SGA/emp): $89,342
Employees: 3,800

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
3,800
+5.6% YoY
Revenue / Employee
$426,526
Rev: $1,620,800,000
Profit / Employee
$81,237
NI: $308,700,000
SGA / Employee
$89,342
Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
ROE 36.9% 38.1% 37.9% 36.8% 36.9% 37.8% 37.4% 38.5% 40.8% 39.7% 40.4% 39.2% 38.3% 39.3% 38.6% 39.3% 38.0% 37.2% 36.3% 36.6% 36.62%
ROA 10.7% 10.8% 11.2% 10.9% 11.2% 11.7% 11.9% 12.2% 13.1% 13.3% 14.0% 13.7% 14.2% 15.1% 15.5% 16.1% 16.5% 16.4% 16.0% 16.3% 16.30%
ROIC 10.7% 11.7% 11.9% 12.7% 13.7% 14.7% 14.6% 14.6% 15.5% 15.1% 15.3% 14.5% 15.5% 16.3% 16.8% 17.9% 29.1% 25.2% 25.2% 27.5% 27.54%
ROCE 17.3% 18.0% 18.4% 17.8% 17.8% 19.2% 19.5% 20.5% 22.6% 23.4% 24.0% 22.8% 23.9% 24.6% 24.7% 26.1% 26.2% 26.2% 25.0% 23.6% 23.60%
Gross Margin 37.9% 36.3% 36.2% 36.7% 36.2% 36.6% 36.1% 38.1% 40.7% 38.3% 38.1% 40.9% 42.4% 39.1% 39.2% 41.4% 42.0% 39.8% 37.9% 41.3% 41.31%
Operating Margin 16.6% 14.7% 16.0% 17.6% 17.9% 17.2% 15.9% 19.1% 22.1% 14.8% 18.0% 19.0% 22.4% 15.9% 18.8% 21.5% 27.6% 38.7% 23.0% 28.3% 28.35%
Net Margin 17.4% 14.8% 15.7% 16.2% 16.7% 16.0% 15.2% 18.5% 20.0% 15.0% 18.4% 18.0% 19.9% 16.9% 18.1% 20.7% 20.3% 16.9% 16.3% 20.5% 20.49%
EBITDA Margin 33.0% 28.0% 31.1% 29.7% 29.6% 30.4% 30.9% 35.1% 37.0% 30.6% 35.4% 34.2% 36.7% 30.8% 33.7% 36.4% 34.8% 46.9% 30.6% 27.9% 27.88%
FCF Margin 13.0% 9.7% 9.3% 7.8% 7.4% 8.7% 8.5% 9.9% 11.7% 12.3% 12.8% 11.6% 12.2% 12.7% 12.9% 14.0% 15.1% 15.7% 15.0% 15.1% 15.07%
OCF Margin 19.6% 16.9% 16.2% 14.3% 13.9% 14.8% 15.2% 16.9% 18.6% 18.0% 17.8% 16.5% 17.1% 18.5% 18.7% 19.6% 20.8% 21.9% 21.0% 21.2% 21.16%
ROE 3Y Avg snapshot only 35.72%
ROE 5Y Avg snapshot only 36.03%
ROA 3Y Avg snapshot only 14.97%
ROIC 3Y Avg snapshot only 19.68%
ROIC Economic snapshot only 26.68%
Cash ROA snapshot only 17.88%
Cash ROIC snapshot only 25.90%
CROIC snapshot only 18.45%
NOPAT Margin snapshot only 22.50%
Pretax Margin snapshot only 24.16%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 21.20%
SBC / Revenue snapshot only 1.54%
Valuation
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
P/E Ratio 24.55 28.73 21.30 17.87 18.33 15.21 15.58 15.33 13.94 19.10 22.84 20.34 22.91 23.30 22.39 23.90 27.93 26.99 23.24 21.73 22.315
P/S Ratio 4.11 4.80 3.59 2.86 2.92 2.46 2.50 2.55 2.44 3.30 4.12 3.64 4.11 4.27 4.09 4.53 5.33 5.14 4.32 4.04 4.066
P/B Ratio 8.36 10.22 7.60 6.39 6.77 5.67 5.79 5.70 5.37 7.22 8.62 7.36 7.97 8.15 7.73 8.44 9.59 9.25 7.97 7.75 7.840
P/FCF 31.64 49.46 38.65 36.93 39.19 28.19 29.53 25.87 20.81 26.77 32.24 31.48 33.70 33.55 31.60 32.38 35.29 32.69 28.78 26.81 26.810
P/OCF 20.96 28.38 22.17 20.04 20.95 16.63 16.44 15.14 13.13 18.31 23.11 22.05 24.08 23.13 21.81 23.14 25.69 23.44 20.54 19.09 19.091
EV/EBITDA 13.79 16.07 12.66 11.19 11.62 9.72 9.89 9.59 8.64 11.15 13.15 11.97 13.10 13.50 13.07 14.03 15.71 14.27 12.48 12.53 12.527
EV/Revenue 4.65 5.32 4.13 3.41 3.44 2.93 2.98 3.02 2.90 3.74 4.55 4.12 4.50 4.63 4.43 4.84 5.34 5.40 4.62 4.34 4.336
EV/EBIT 18.89 21.82 16.84 14.79 15.28 12.54 12.67 12.17 10.79 14.04 16.52 15.08 16.54 17.06 16.59 17.77 20.02 20.16 17.69 18.03 18.034
EV/FCF 35.79 54.80 44.45 43.90 46.21 33.59 35.18 30.66 24.65 30.33 35.64 35.56 36.93 36.37 34.24 34.58 35.38 34.33 30.75 28.77 28.770
Earnings Yield 4.1% 3.5% 4.7% 5.6% 5.5% 6.6% 6.4% 6.5% 7.2% 5.2% 4.4% 4.9% 4.4% 4.3% 4.5% 4.2% 3.6% 3.7% 4.3% 4.6% 4.60%
FCF Yield 3.2% 2.0% 2.6% 2.7% 2.6% 3.5% 3.4% 3.9% 4.8% 3.7% 3.1% 3.2% 3.0% 3.0% 3.2% 3.1% 2.8% 3.1% 3.5% 3.7% 3.73%
PEG Ratio snapshot only 2.975
Price/Tangible Book snapshot only 35.492
EV/OCF snapshot only 20.487
EV/Gross Profit snapshot only 10.758
Acquirers Multiple snapshot only 14.832
Shareholder Yield snapshot only 4.09%
Graham Number snapshot only $58.66
Leverage & Solvency
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Current Ratio 1.60 1.54 1.65 1.66 1.66 1.95 2.18 2.05 1.88 1.61 1.79 1.76 1.64 1.40 1.60 1.61 1.52 1.46 1.54 1.52 1.519
Quick Ratio 1.14 1.11 1.11 1.14 1.11 1.35 1.49 1.43 1.31 1.07 1.22 1.19 1.11 0.96 1.10 1.11 1.04 1.00 1.04 1.06 1.064
Debt/Equity 1.28 1.29 1.28 1.36 1.38 1.28 1.28 1.23 1.16 1.08 1.02 1.06 0.87 0.79 0.75 0.67 0.12 0.59 0.64 0.66 0.655
Net Debt/Equity 1.10 1.10 1.14 1.21 1.21 1.09 1.11 1.05 0.99 0.96 0.91 0.95 0.76 0.69 0.65 0.57 0.02 0.47 0.55 0.57 0.566
Debt/Assets 0.39 0.39 0.40 0.41 0.41 0.41 0.41 0.41 0.40 0.38 0.38 0.39 0.34 0.33 0.32 0.30 0.06 0.28 0.29 0.29 0.289
Debt/EBITDA 1.86 1.83 1.86 2.00 2.01 1.85 1.84 1.75 1.57 1.47 1.41 1.53 1.30 1.21 1.17 1.04 0.20 0.87 0.93 0.99 0.987
Net Debt/EBITDA 1.60 1.57 1.65 1.78 1.77 1.56 1.59 1.50 1.35 1.31 1.25 1.37 1.15 1.05 1.01 0.89 0.04 0.68 0.80 0.85 0.853
Interest Coverage 9.72 9.99 10.49 10.43 10.13 9.42 8.60 7.98 7.76 7.37 7.72 7.84 8.09 8.66 9.30 10.79 11.97 12.84 13.36 12.98 12.981
Equity Multiplier 3.26 3.29 3.18 3.29 3.34 3.15 3.10 3.02 2.93 2.83 2.70 2.72 2.52 2.43 2.34 2.22 2.13 2.14 2.22 2.27 2.269
Cash Ratio snapshot only 0.281
Debt Service Coverage snapshot only 18.688
Cash to Debt snapshot only 0.136
FCF to Debt snapshot only 0.441
Defensive Interval snapshot only 528.7 days
Efficiency & Turnover
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Asset Turnover 0.64 0.65 0.66 0.68 0.70 0.73 0.74 0.73 0.75 0.77 0.78 0.76 0.79 0.82 0.85 0.85 0.87 0.86 0.86 0.88 0.876
Inventory Turnover 8.11 8.17 7.72 7.76 7.53 7.83 7.38 7.34 7.18 7.46 7.30 7.33 7.47 8.08 8.01 8.06 7.95 8.21 7.98 8.30 8.303
Receivables Turnover 12.04 12.61 11.69 11.13 11.68 12.01 11.40 10.84 11.71 12.74 11.29 11.27 11.81 12.64 11.54 11.44 11.58 12.65 10.76 10.36 10.363
Payables Turnover 8.29 7.49 8.11 7.62 7.68 7.44 8.31 7.83 7.91 8.14 8.71 8.04 7.99 7.74 9.88 9.11 8.65 7.52 9.25 8.91 8.913
DSO 30 29 31 33 31 30 32 34 31 29 32 32 31 29 32 32 32 29 34 35 35.2 days
DIO 45 45 47 47 48 47 49 50 51 49 50 50 49 45 46 45 46 44 46 44 44.0 days
DPO 44 49 45 48 48 49 44 47 46 45 42 45 46 47 37 40 42 49 39 41 41.0 days
Cash Conversion Cycle 31 25 34 32 32 28 38 37 36 33 40 37 34 27 40 37 35 25 40 38 38.2 days
Fixed Asset Turnover snapshot only 2.377
Operating Cycle snapshot only 79.2 days
Cash Velocity snapshot only 21.570
Capital Intensity snapshot only 1.184
Growth (YoY)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 12.5% 18.1% 21.0% 15.9% 14.0% 11.4% 10.9% 7.4% 6.3% 5.0% 4.0% 6.8% 8.0% 11.6% 14.6% 15.6% 15.1% 12.1% 9.7% 8.6% 8.57%
Net Income 3.5% 3.2% 9.2% 4.2% 8.3% 7.9% 5.6% 11.5% 17.2% 12.2% 16.7% 15.0% 10.5% 18.4% 15.9% 22.3% 22.4% 16.5% 11.8% 6.5% 6.52%
EPS 3.5% 3.2% 11.0% 7.3% 12.3% 12.9% 9.5% 15.7% 21.1% 15.7% 20.4% 17.6% 12.3% 18.9% 16.7% 23.1% 23.2% 17.6% 13.3% 9.0% 9.01%
FCF -7.6% -34.3% -32.3% -40.8% -34.7% 0.2% 1.0% 36.5% 67.8% 48.4% 56.8% 25.3% 12.2% 15.2% 15.9% 39.7% 42.5% 38.5% 27.4% 16.9% 16.93%
EBITDA 715.2% 25.6% 8.2% -1.2% 0.0% 1.6% 2.4% 11.3% 20.4% 16.8% 19.5% 16.4% 10.8% 14.1% 12.1% 15.9% 13.9% 23.7% 19.8% 9.0% 8.99%
Op. Income -18.6% -1.1% 23.0% 22.4% 30.1% 26.2% 20.2% 16.0% 19.6% 10.6% 12.6% 13.0% 8.3% 16.4% 17.5% 22.8% 30.0% 57.8% 58.3% 60.8% 60.75%
OCF Growth snapshot only 17.37%
Asset Growth snapshot only 7.78%
Equity Growth snapshot only 5.55%
Debt Growth snapshot only 3.15%
Shares Change snapshot only -2.29%
Dividend Growth snapshot only 12.60%
Growth (CAGR)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 3Y 3.8% 4.3% 4.7% 5.2% 5.6% 5.9% 6.5% 9.0% 10.9% 11.4% 11.7% 9.9% 9.4% 9.3% 9.7% 9.8% 9.7% 9.5% 9.3% 10.3% 10.25%
Revenue 5Y -6.8% -2.2% -2.1% 0.1% 2.4% 4.5% 6.9% 6.5% 6.2% 5.8% 5.8% 5.9% 6.2% 6.8% 7.5% 9.9% 11.1% 11.6% 11.9% 10.8% 10.76%
EPS 3Y -11.2% -0.6% 1.8% 0.4% -2.8% -3.6% — — — — 13.6% 13.4% 15.2% 15.8% 15.5% 18.7% 18.8% 17.4% 16.8% 16.4% 16.42%
EPS 5Y 33.6% 18.5% 10.9% 6.8% 9.2% 1.0% 0.1% -0.3% -1.0% 5.1% 6.9% 6.6% 4.6% 4.3% — — — — 14.1% 14.4% 14.40%
Net Income 3Y -13.6% -2.4% 0.2% -1.7% -5.1% -6.0% — — — — 10.4% 10.1% 11.9% 12.7% 12.6% 16.2% 16.6% 15.7% 14.8% 14.4% 14.40%
Net Income 5Y 29.5% 15.2% 7.8% 3.9% 6.0% -2.3% -3.2% -3.4% -3.9% 2.4% 4.4% 4.0% 2.1% 2.0% — — — — 11.8% 11.7% 11.70%
EBITDA 3Y -2.4% 0.6% 1.6% -0.9% -3.4% -3.1% 86.3% 1.2% 8.5% — 9.8% 8.6% 10.1% 10.6% 11.1% 14.5% 15.0% 18.1% 17.1% 13.7% 13.72%
EBITDA 5Y 7.0% 5.3% 3.7% 1.5% 3.3% 1.5% 2.1% 3.2% 2.3% 3.8% 5.1% 4.8% 3.8% 3.9% 54.0% 72.3% 3.0% — 12.2% 10.1% 10.08%
Gross Profit 3Y 5.6% 5.3% 5.3% 4.8% 4.3% 4.4% 5.1% 9.0% 13.0% 14.3% 15.6% 13.4% 13.0% 12.8% 13.0% 13.5% 13.8% 13.6% 13.1% 13.7% 13.68%
Gross Profit 5Y -1.8% 1.7% 1.6% 2.6% 4.0% 6.0% 7.7% 7.9% 8.3% 7.4% 7.2% 7.3% 7.5% 8.0% 9.0% 12.0% 13.8% 14.6% 15.1% 13.3% 13.27%
Op. Income 3Y -5.1% -3.8% -3.8% -4.8% -4.1% -4.1% -3.6% 1.8% 8.2% 11.4% 18.5% 17.1% 19.0% 17.6% 16.7% 17.2% 19.0% 26.7% 27.9% 30.7% 30.68%
Op. Income 5Y 2.5% 1.2% -0.1% 1.5% 1.8% 3.1% 3.8% 4.7% 5.9% 4.5% 3.8% 2.5% 2.7% 2.6% 3.5% 8.0% 12.3% 20.5% 25.4% 25.9% 25.93%
FCF 3Y -4.3% -28.2% -27.2% -28.2% -28.8% -1.2% -5.2% -6.3% 0.4% -0.8% 2.4% 0.4% 7.1% 19.7% 22.5% 33.7% 38.9% 33.3% 32.3% 27.0% 26.98%
FCF 5Y — — 34.6% 12.2% 6.7% 5.9% -0.8% -3.2% -0.8% -11.3% -9.4% -8.7% -7.4% 10.6% 9.2% 7.6% 10.1% 9.3% 9.6% 10.6% 10.60%
OCF 3Y -2.5% -19.7% -19.3% -19.3% -19.6% -0.1% -0.3% -0.2% 4.5% 2.2% 3.2% 0.2% 4.4% 12.5% 15.2% 22.0% 25.4% 24.9% 21.8% 18.9% 18.95%
OCF 5Y 29.5% 30.6% 8.1% 2.7% 1.4% 1.4% 0.6% -0.4% 1.3% -8.4% -7.8% -7.0% -6.1% 7.9% 7.8% 7.4% 9.6% 10.2% 10.3% 10.1% 10.08%
Assets 3Y -5.2% -3.0% -4.2% -2.8% 4.8% 4.2% 2.0% 3.5% 1.6% -0.9% -0.5% 2.0% 1.9% 2.5% 2.8% 2.4% 2.9% 4.5% 5.6% 5.4% 5.43%
Assets 5Y -0.3% -0.6% -0.6% -0.6% -1.0% -2.1% -1.6% -1.3% -3.1% -2.2% -2.7% -0.7% 3.6% 4.3% 3.1% 3.8% 3.0% 2.3% 3.0% 3.2% 3.17%
Equity 3Y 16.4% 25.8% 24.2% 29.5% 12.4% 13.6% 13.7% 12.0% 9.8% 9.5% 9.8% 10.3% 11.1% 13.4% 13.9% 16.7% 19.5% 19.0% 17.9% 16.0% 15.99%
Book Value 3Y 19.7% 28.0% 26.2% 32.3% 15.1% 16.5% 15.8% 14.5% 12.5% 12.9% 12.9% 13.6% 14.3% 16.5% 16.7% 19.3% 21.7% 20.8% 20.0% 18.0% 18.03%
Dividend 3Y 4.3% 3.7% 3.7% 4.6% 4.9% 4.8% 3.9% 4.0% 4.3% 5.2% 4.9% 5.5% 5.5% 5.4% 5.4% 5.1% 4.9% 4.5% 4.8% 5.1% 5.06%
Growth Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue Stability 0.53 0.27 0.25 0.01 0.16 0.50 0.73 0.87 0.83 0.79 0.78 0.87 0.91 0.93 0.93 0.97 0.98 0.99 0.99 0.99 0.985
Earnings Stability 0.00 0.03 0.00 0.02 0.02 0.05 0.00 0.00 0.00 0.01 0.28 0.27 0.21 0.20 0.75 0.77 0.75 0.74 0.96 0.95 0.950
Margin Stability 0.89 0.92 0.92 0.95 0.96 0.96 0.97 0.97 0.96 0.97 0.96 0.96 0.96 0.96 0.96 0.95 0.94 0.94 0.94 0.95 0.946
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 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.000
FCF Positive Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence 0.20 0.20 0.50 0.50 0.50 0.50 0.98 0.95 0.93 0.95 0.93 0.94 0.96 0.93 0.94 0.91 0.91 0.93 0.95 0.97 0.974
Earnings Smoothness — — 0.91 0.96 0.92 0.92 0.95 0.89 0.84 0.89 0.85 0.86 0.90 0.83 0.85 0.80 0.80 0.85 0.89 0.94 0.937
ROE Trend 0.12 0.12 0.20 0.21 0.28 0.29 0.01 0.01 0.03 0.01 0.01 -0.00 -0.03 -0.03 -0.03 -0.01 -0.02 -0.02 -0.02 -0.00 -0.001
Gross Margin Trend -0.00 -0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.02 0.01 0.01 0.01 0.00 0.002
FCF Margin Trend -0.07 -0.04 -0.05 -0.08 -0.07 -0.05 -0.04 -0.02 0.02 0.03 0.04 0.03 0.03 0.02 0.02 0.03 0.03 0.03 0.02 0.02 0.023
Sustainable Growth Rate 28.5% 29.6% 29.6% 28.4% 28.6% 29.4% 29.1% 30.2% 32.5% 31.4% 32.2% 31.3% 30.7% 31.8% 31.3% 32.3% 31.3% 30.6% 29.6% 29.9% 29.86%
Internal Growth Rate 9.0% 9.1% 9.6% 9.2% 9.5% 10.1% 10.2% 10.6% 11.6% 11.8% 12.6% 12.3% 12.8% 13.9% 14.3% 15.2% 15.7% 15.6% 15.0% 15.3% 15.33%
Cash Flow Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
OCF/Net Income 1.17 1.01 0.96 0.89 0.87 0.91 0.95 1.01 1.06 1.04 0.99 0.92 0.95 1.01 1.03 1.03 1.09 1.15 1.13 1.14 1.138
FCF/OCF 0.66 0.57 0.57 0.54 0.53 0.59 0.56 0.59 0.63 0.68 0.72 0.70 0.71 0.69 0.69 0.71 0.73 0.72 0.71 0.71 0.712
FCF/Net Income snapshot only 0.810
OCF/EBITDA snapshot only 0.611
CapEx/Revenue 6.6% 7.2% 6.9% 6.5% 6.5% 6.1% 6.8% 7.0% 6.9% 5.7% 5.0% 5.0% 4.9% 5.7% 5.8% 5.6% 5.6% 6.2% 6.0% 6.1% 6.09%
CapEx/Depreciation snapshot only 0.576
Accruals Ratio -0.02 -0.00 0.00 0.01 0.01 0.01 0.01 -0.00 -0.01 -0.01 0.00 0.01 0.01 -0.00 -0.00 -0.01 -0.01 -0.02 -0.02 -0.02 -0.022
Sloan Accruals snapshot only -0.091
Cash Flow Adequacy snapshot only 2.222
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Dividend Yield 0.9% 0.8% 1.0% 1.3% 1.2% 1.5% 1.4% 1.4% 1.5% 1.1% 0.9% 1.0% 0.9% 0.8% 0.8% 0.7% 0.6% 0.7% 0.8% 0.8% 0.83%
Dividend/Share $0.85 $0.87 $0.89 $0.92 $0.95 $0.97 $0.99 $1.01 $1.03 $1.06 $1.08 $1.11 $1.13 $1.15 $1.18 $1.21 $1.24 $1.27 $1.31 $1.36 $1.36
Payout Ratio 22.8% 22.4% 22.0% 22.8% 22.6% 22.2% 22.2% 21.5% 20.4% 21.0% 20.1% 20.1% 19.9% 19.1% 18.9% 17.9% 17.7% 17.9% 18.4% 18.5% 18.46%
FCF Payout Ratio 29.3% 38.5% 39.9% 47.0% 48.4% 41.1% 42.0% 36.3% 30.4% 29.4% 28.4% 31.1% 29.2% 27.5% 26.6% 24.2% 22.4% 21.7% 22.8% 22.8% 22.78%
Total Payout Ratio 59.0% 68.1% 76.5% 96.6% 1.2% 1.0% 1.0% 87.1% 71.4% 80.4% 71.4% 63.2% 51.7% 41.7% 43.3% 45.9% 51.4% 62.3% 75.8% 88.9% 88.87%
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 0.05 0.06 0.07 0.09 0.09 0.08 0.08 0.07 0.07 0.07 0.07 0.08 0.09 0.09 0.09 0.09 0.10 0.10 0.10 0.11 0.109
Buyback Yield 1.5% 1.6% 2.6% 4.1% 5.0% 5.4% 5.1% 4.3% 3.7% 3.1% 2.2% 2.1% 1.4% 1.0% 1.1% 1.2% 1.2% 1.6% 2.5% 3.2% 3.24%
Net Buyback Yield 1.5% 1.6% 2.6% 4.1% 5.0% 5.4% 5.1% 4.3% 3.7% 3.1% 2.2% 2.1% 1.4% 1.0% 1.1% 1.2% 1.2% 1.6% 2.5% 3.2% 3.24%
Total Shareholder Return 2.4% 2.4% 3.6% 5.4% 6.3% 6.9% 6.6% 5.7% 5.1% 4.2% 3.1% 3.1% 2.3% 1.8% 1.9% 1.9% 1.8% 2.3% 3.3% 4.1% 4.09%
DuPont Factors
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Tax Burden (NI/EBT) 0.76 0.76 0.76 0.77 0.78 0.77 0.77 0.77 0.75 0.75 0.75 0.75 0.75 0.76 0.77 0.77 0.78 0.77 0.77 0.77 0.770
Interest Burden (EBT/EBIT) 0.90 0.90 0.90 0.90 0.90 0.89 0.88 0.87 0.87 0.86 0.87 0.87 0.88 0.88 0.89 0.91 0.92 0.92 0.93 1.00 1.005
EBIT Margin 0.25 0.24 0.25 0.23 0.23 0.23 0.24 0.25 0.27 0.27 0.28 0.27 0.27 0.27 0.27 0.27 0.27 0.27 0.26 0.24 0.240
Asset Turnover 0.64 0.65 0.66 0.68 0.70 0.73 0.74 0.73 0.75 0.77 0.78 0.76 0.79 0.82 0.85 0.85 0.87 0.86 0.86 0.88 0.876
Equity Multiplier 3.46 3.53 3.39 3.36 3.30 3.22 3.14 3.15 3.12 2.98 2.88 2.86 2.70 2.61 2.50 2.44 2.30 2.27 2.28 2.25 2.247
Per Share
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
EPS (Diluted TTM) $3.72 $3.88 $4.06 $4.04 $4.18 $4.38 $4.45 $4.68 $5.06 $5.06 $5.36 $5.50 $5.68 $6.02 $6.26 $6.77 $7.00 $7.08 $7.09 $7.38 $7.38
Book Value/Share $10.92 $10.90 $11.39 $11.30 $11.31 $11.73 $11.97 $12.59 $13.13 $13.39 $14.21 $15.20 $16.33 $17.21 $18.11 $19.17 $20.39 $20.66 $20.67 $20.71 $20.81
Tangible Book/Share $-1.49 $-1.44 $-0.98 $-1.11 $-1.18 $-0.88 $-0.60 $-0.29 $-0.07 $0.09 $0.97 $0.72 $1.90 $2.25 $3.27 $4.44 $5.62 $5.91 $4.59 $4.52 $4.52
Revenue/Share $22.23 $23.20 $24.10 $25.23 $26.27 $27.04 $27.71 $28.11 $28.87 $29.30 $29.73 $30.70 $31.67 $32.86 $34.29 $35.73 $36.70 $37.17 $38.15 $39.70 $39.89
FCF/Share $2.89 $2.25 $2.24 $1.96 $1.95 $2.36 $2.35 $2.77 $3.39 $3.61 $3.80 $3.55 $3.86 $4.18 $4.43 $5.00 $5.54 $5.85 $5.73 $5.98 $6.01
OCF/Share $4.36 $3.92 $3.90 $3.61 $3.66 $4.00 $4.22 $4.74 $5.37 $5.28 $5.30 $5.08 $5.41 $6.06 $6.42 $7.00 $7.62 $8.15 $8.02 $8.40 $8.44
Cash/Share $1.97 $2.06 $1.61 $1.70 $1.88 $2.32 $2.11 $2.26 $2.17 $1.60 $1.58 $1.67 $1.68 $1.80 $1.89 $1.86 $2.07 $2.58 $1.85 $1.84 $1.85
EBITDA/Share $7.49 $7.68 $7.86 $7.68 $7.77 $8.16 $8.35 $8.87 $9.67 $9.83 $10.29 $10.56 $10.89 $11.26 $11.62 $12.32 $12.49 $14.06 $14.11 $13.74 $13.74
Debt/Share $13.94 $14.08 $14.60 $15.34 $15.62 $15.07 $15.37 $15.54 $15.19 $14.49 $14.47 $16.15 $14.15 $13.63 $13.58 $12.85 $2.52 $12.20 $13.17 $13.57 $13.57
Net Debt/Share $11.97 $12.02 $12.99 $13.64 $13.73 $12.74 $13.26 $13.28 $13.02 $12.89 $12.89 $14.48 $12.47 $11.83 $11.69 $11.00 $0.45 $9.61 $11.32 $11.73 $11.73
Academic Models
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — 6.622
Altman Z-Prime snapshot only 11.412
Piotroski F-Score 8 8 7 6 6 7 6 9 9 8 7 7 7 8 8 8 7 9 7 7 7
Beneish M-Score -2.50 -2.22 -2.29 -2.07 -2.21 -2.42 -2.43 -2.63 -2.63 -2.58 -2.47 -2.33 -2.37 -2.26 -2.31 -2.37 -2.37 -2.61 -2.47 -2.38 -2.376
Ohlson O-Score snapshot only -7.692
ROIC (Greenblatt) snapshot only 47.48%
Net-Net WC snapshot only $-16.33
EVA snapshot only $242990683.59
Credit
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Credit Rating snapshot only AA
Credit Score 79.08 78.36 81.19 77.95 77.38 76.74 81.38 81.48 81.04 80.47 80.43 80.84 81.99 83.31 83.76 86.41 93.69 89.00 89.29 88.49 88.486
Credit Grade snapshot only 3
Credit Trend snapshot only 2.076
Implied Spread (bps) snapshot only 80.000
Industry Credit Rank snapshot only 80
Sector Credit Rank snapshot only 83

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