$86.07

+0.14 (+0.16%)

Weekly Expected Move ±5.8%

$74 $78 $83 $88 $93

NYSE · Financial Services · Banks - Regional · Alpha Radar Sell · Power 38 · $4.9B mcap · 54M float · 0.762% daily turnover · Short 81% 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

57.4 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: 43.3% · 5Y Avg: 46.1%

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. AX has a Narrow competitive edge (57.4/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Cost Advantage. ROIC of 43.3% 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

Low

$108

Avg Target

$108

High

Based on 6 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 1Buy: 10Hold: 8Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$107.92

Analysts6

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-01-30	D.A. Davidson	—	$108	$112	+4	+13.4%	$98.74
2026-01-30	Needham	Kyle Peterson	$107	$110	+3	+16.2%	$94.64
2025-12-08	D.A. Davidson	—	$106	$108	+2	+25.5%	$85.69
2025-10-31	Needham	—	$105	$107	+2	+38.1%	$77.47
2025-09-29	Needham	—	$85	$105	+20	+20.1%	$87.45
2025-09-24	D.A. Davidson	Gary Tenner	Initiated	$106	—	+19.8%	$88.46
2024-10-31	Needham	Kyle Peterson	$82	$85	+3	+27.8%	$66.49
2024-10-11	Needham	Kyle Peterson	Initiated	$82	—	+29.1%	$63.51
2024-09-24	Wedbush	David Chiaverini	Initiated	$75	—	+13.9%	$65.86
2024-05-01	Piper Sandler	Andrew Liesch	Initiated	$68	—	+22.7%	$55.40

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

Rating Change History

Date	From	To
2026-05-14	B+	A-
2026-05-04	A-	B+
2026-04-29	A	A-
2026-04-27	A-	A
2026-04-24	A	A-
2026-04-16	A-	A
2026-04-14	A	A-
2026-04-01	A-	A
2026-03-04	A	A-
2026-02-24	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.

★ ★ ★ ★ ★ 54 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. AX scores highest in Safety (80/100) and lowest in Growth (46/100). An overall grade of A+ places AX 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

3.13

Safe Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✗

Beneish M-Score

-2.02

Unlikely Manipulator

Ohlson O-Score

-4.02

Bankruptcy prob: 1.8%

Low Risk

Credit Rating

AA+

Score: 91.4/100

Trend: Stable

Earnings Quality

100/100

OCF/NI: 1.05x

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. AX scores 3.13, placing it in the Safe Zone (safe > 3.0, distress < 1.5). 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. AX 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. AX's score of -2.02 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. AX's implied 1.8% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. AX receives an estimated rating of AA+ (score: 91.4/100), 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). AX'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

10.23x

PEG

0.81x

P/S

2.33x

P/B

1.59x

P/FCF

11.91x

P/OCF

10.46x

EV/EBITDA

5.02x

EV/Revenue

1.70x

EV/EBIT

5.39x

EV/FCF

8.05x

Earnings Yield

9.10%

FCF Yield

8.40%

Shareholder Yield

1.16%

Graham Number

$90.11

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 10.2x earnings, AX trades at a reasonable valuation. An earnings yield of 9.1% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $90.11 per share, suggesting a potential 5% 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

0.726

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

0.315

EBIT / Rev

Asset Turnover

0.084

Rev / Assets

Equity Multiplier

9.583

Assets / Equity

ROE

18.4%

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. AX's ROE of 18.4% is driven by financial leverage (equity multiplier: 9.58x). 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

22.25%

Fair P/E

53.00x

Intrinsic Value

$415.56

Price/Value

0.21x

Margin of Safety

79.27%

Premium

-79.27%

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 AX's realized 22.3% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $415.56, AX appears undervalued with a 79% margin of safety. The adjusted fair P/E of 53.0x compares to the current market P/E of 10.2x.

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

$86.07

Median 1Y

$91.21

5th Pctile

$42.59

95th Pctile

$196.15

Ann. Volatility

44.6%

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 Park President, Head of Commercial Bank	$450,000	$1,251,412	$2,272,853
Brian Swanson President, Head of Consumer Bank	$355,000	$1,145,077	$2,030,327
John Tolla President, Vice President, Chief Risk Officer	$350,000	$1,185,083	$2,004,083
Derrick K. Walsh Executive Vice President, Chief Financial Officer	$350,000	$510,038	$1,396,538

CEO Pay Ratio

68:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $13,861,409

Avg Employee Cost (SGA/emp): $205,080

Employees: 1,989

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

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

Employees

1,989

+11.7% YoY

Revenue / Employee

$970,068

Rev: $1,929,466,000

Profit / Employee

$217,651

NI: $432,908,000

SGA / Employee

$205,080

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	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	17.9%	16.4%	16.9%	17.4%	18.0%	15.8%	15.7%	17.1%	18.2%	17.3%	18.6%	22.6%	24.3%	21.4%	22.8%	20.6%	20.3%	17.4%	17.4%	18.4%	18.37%
ROA	1.6%	1.5%	1.6%	1.6%	1.7%	1.5%	1.5%	1.6%	1.8%	1.6%	1.8%	2.1%	2.3%	2.1%	2.2%	2.0%	2.0%	1.8%	1.8%	1.9%	1.92%
ROIC	-88.0%	20.1%	20.8%	21.3%	22.1%	32.5%	32.3%	35.1%	37.5%	-3.2%	-3.4%	-4.2%	-4.5%	77.0%	82.0%	74.0%	73.0%	41.1%	41.1%	43.3%	43.35%
ROCE	14.8%	10.5%	10.8%	11.1%	11.4%	11.4%	11.4%	12.4%	13.3%	15.5%	16.8%	20.4%	21.9%	20.1%	21.4%	19.3%	19.0%	17.0%	16.8%	17.5%	17.47%
Gross Margin	87.1%	90.3%	91.3%	91.6%	91.8%	88.1%	79.0%	72.8%	66.1%	60.2%	59.5%	57.3%	60.2%	58.5%	59.5%	60.8%	62.8%	63.0%	61.1%	63.2%	63.20%
Operating Margin	43.1%	44.2%	46.9%	46.9%	46.9%	39.4%	33.4%	38.5%	34.1%	31.1%	30.0%	51.7%	32.9%	30.1%	31.3%	31.3%	32.1%	32.5%	30.3%	31.2%	31.18%
Net Margin	30.4%	31.8%	33.3%	33.0%	33.3%	27.9%	23.5%	26.8%	23.7%	23.3%	21.0%	36.1%	23.4%	21.8%	22.1%	21.8%	22.8%	23.1%	22.7%	22.8%	22.81%
EBITDA Margin	48.0%	49.4%	50.2%	51.4%	50.3%	43.6%	35.8%	40.5%	35.8%	32.7%	31.4%	53.2%	34.5%	31.6%	32.8%	32.8%	33.5%	34.1%	32.0%	35.3%	35.30%
FCF Margin	51.0%	56.5%	28.8%	5.9%	21.6%	25.5%	47.2%	46.3%	21.4%	12.5%	8.7%	8.5%	18.1%	15.6%	16.0%	18.0%	15.9%	22.6%	25.7%	21.1%	21.09%
OCF Margin	52.6%	57.9%	30.6%	7.8%	23.5%	28.3%	50.2%	49.1%	24.1%	14.9%	10.7%	10.7%	20.3%	17.7%	18.5%	20.2%	18.2%	25.4%	28.1%	24.0%	24.00%
ROE 3Y Avg	snapshot only																				18.96%
ROE 5Y Avg	snapshot only																				17.80%
ROA 3Y Avg	snapshot only																				1.90%
ROIC 3Y Avg	snapshot only																				53.82%
ROIC Economic	snapshot only																				15.15%
Cash ROA	snapshot only																				1.94%
Cash ROIC	snapshot only																				45.52%
CROIC	snapshot only																				40.00%
NOPAT Margin	snapshot only																				22.85%
Pretax Margin	snapshot only																				31.49%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				21.44%
SBC / Revenue	snapshot only																				2.17%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	13.75	13.02	14.02	14.84	11.86	8.98	8.67	8.91	8.06	7.67	6.83	7.88	7.25	7.39	7.62	9.40	8.80	10.11	11.39	10.99	10.230
P/S Ratio	3.99	3.95	4.41	4.77	3.90	2.85	2.51	2.45	2.04	1.86	1.61	2.07	1.89	1.88	1.94	2.10	1.95	2.27	2.57	2.51	2.331
P/B Ratio	2.31	2.00	2.23	2.42	2.01	1.32	1.26	1.41	1.36	1.23	1.18	1.65	1.64	1.45	1.60	1.78	1.64	1.63	1.84	1.87	1.589
P/FCF	7.82	6.98	15.28	80.28	18.02	11.20	5.32	5.29	9.53	14.93	18.48	24.27	10.41	12.03	12.13	11.62	12.20	10.04	10.01	11.91	11.908
P/OCF	7.58	6.81	14.40	61.02	16.60	10.08	4.99	4.98	8.47	12.53	14.96	19.33	9.30	10.64	10.48	10.35	10.71	8.93	9.16	10.46	10.464
EV/EBITDA	3.98	7.29	8.07	8.66	6.84	3.41	3.18	3.56	3.16	0.75	0.51	1.94	1.77	2.44	2.77	3.70	3.25	4.28	5.21	5.02	5.021
EV/Revenue	1.93	3.48	3.94	4.31	3.44	1.66	1.42	1.49	1.22	0.27	0.18	0.75	0.68	0.92	1.04	1.22	1.06	1.43	1.72	1.70	1.697
EV/EBIT	4.62	8.11	8.89	9.51	7.45	3.71	3.46	3.82	3.37	0.79	0.54	2.03	1.85	2.55	2.88	3.87	3.41	4.48	5.47	5.39	5.389
EV/FCF	3.79	6.17	13.68	72.53	15.91	6.53	3.00	3.22	5.69	2.16	2.05	8.82	3.73	5.86	6.47	6.75	6.66	6.30	6.71	8.05	8.047
Earnings Yield	7.3%	7.7%	7.1%	6.7%	8.4%	11.1%	11.5%	11.2%	12.4%	13.0%	14.6%	12.7%	13.8%	13.5%	13.1%	10.6%	11.4%	9.9%	8.8%	9.1%	9.10%
FCF Yield	12.8%	14.3%	6.5%	1.2%	5.6%	8.9%	18.8%	18.9%	10.5%	6.7%	5.4%	4.1%	9.6%	8.3%	8.2%	8.6%	8.2%	10.0%	10.0%	8.4%	8.40%
PEG Ratio	snapshot only																				0.814
Price/Tangible Book	snapshot only																				1.992
EV/OCF	snapshot only																				7.071
EV/Gross Profit	snapshot only																				2.713
Acquirers Multiple	snapshot only																				5.389
Shareholder Yield	snapshot only																				1.16%
Graham Number	snapshot only																				$90.11

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	0.18	0.11	0.11	0.11	0.11	0.13	0.13	0.13	0.13	0.16	0.16	0.16	0.16	0.12	0.12	0.12	0.12	0.11	0.11	0.11	0.112
Quick Ratio	0.18	0.11	0.11	0.11	0.11	0.13	0.13	0.13	0.13	0.16	0.16	0.16	0.16	0.12	0.12	0.12	0.12	0.11	0.11	0.11	0.112
Debt/Equity	0.39	0.41	0.41	0.41	0.41	0.34	0.34	0.34	0.34	0.24	0.24	0.24	0.24	0.18	0.18	0.18	0.18	0.14	0.14	0.14	0.139
Net Debt/Equity	-1.19	-0.23	-0.23	-0.23	-0.23	-0.55	-0.55	-0.55	-0.55	-1.05	-1.05	-1.05	-1.05	-0.74	-0.74	-0.74	-0.74	-0.61	-0.61	-0.61	-0.607
Debt/Assets	0.03	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.02	0.015
Debt/EBITDA	1.38	1.69	1.66	1.62	1.58	1.52	1.53	1.42	1.33	0.99	0.92	0.76	0.71	0.63	0.59	0.65	0.66	0.58	0.59	0.55	0.552
Net Debt/EBITDA	-4.24	-0.96	-0.95	-0.93	-0.90	-2.44	-2.46	-2.28	-2.13	-4.42	-4.11	-3.41	-3.18	-2.57	-2.42	-2.67	-2.70	-2.53	-2.57	-2.41	-2.409
Interest Coverage	3.29	3.86	4.61	5.52	6.80	6.47	4.01	2.42	1.59	1.15	0.97	1.00	0.94	0.92	0.92	0.82	0.84	0.89	0.90	0.93	0.930
Equity Multiplier	11.25	10.18	10.18	10.18	10.18	10.62	10.62	10.62	10.62	10.61	10.61	10.61	10.61	9.98	9.98	9.98	9.98	9.25	9.25	9.25	9.245
Cash Ratio	snapshot only																				0.094
Debt Service Coverage	snapshot only																				0.999
Cash to Debt	snapshot only																				5.366
FCF to Debt	snapshot only																				1.131
Defensive Interval	snapshot only																				1395.9 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.07	0.07	0.07	0.08	0.09	0.08	0.09	0.09	0.09	0.08	0.08	0.08	0.084
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	3.56	2.65	2.64	2.65	2.68	2.39	2.60	2.97	3.45	4.09	4.56	4.94	5.38	6.68	7.11	7.33	7.29	8.48	8.41	8.78	8.781
Payables Turnover	0.41	0.23	0.19	0.16	0.14	0.14	0.21	0.33	0.52	0.83	1.06	1.26	1.41	1.95	2.07	2.09	2.05	2.28	2.24	2.30	2.296
DSO	102	138	138	138	136	153	141	123	106	89	80	74	68	55	51	50	50	43	43	42	41.6 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	894	1567	1914	2289	2565	2689	1778	1094	699	439	345	290	258	188	176	174	178	160	163	159	159.0 days
Cash Conversion Cycle	-791	-1429	-1776	-2151	-2429	-2536	-1638	-972	-593	-349	-265	-216	-190	-133	-125	-124	-128	-117	-120	-117	-117.4 days
Cash Velocity	snapshot only																				0.999
Capital Intensity	snapshot only																				12.403

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	0.3%	-0.8%	-3.5%	-5.1%	1.3%	6.5%	16.3%	32.7%	52.0%	66.8%	71.0%	61.6%	51.7%	39.8%	33.4%	27.1%	16.1%	9.2%	1.8%	3.0%	2.95%
Net Income	15.7%	17.6%	13.9%	9.4%	14.7%	11.6%	7.2%	13.4%	17.1%	27.6%	38.7%	54.7%	55.7%	46.5%	44.7%	7.7%	-1.2%	-3.8%	-9.8%	5.6%	5.55%
EPS	17.6%	17.1%	12.6%	8.1%	14.4%	12.0%	7.5%	13.9%	17.1%	28.9%	40.3%	61.6%	62.7%	50.4%	48.8%	7.2%	-1.6%	-2.8%	-9.9%	5.5%	5.52%
FCF	26.9%	48.0%	-35.7%	-90.1%	-57.1%	-52.0%	90.3%	9.3%	50.5%	-18.3%	-68.5%	-70.2%	28.2%	75.2%	1.5%	1.7%	2.2%	57.8%	63.2%	20.4%	20.38%
EBITDA	23.4%	9.9%	5.1%	1.2%	4.9%	8.4%	5.9%	11.7%	16.5%	23.3%	33.5%	49.4%	49.8%	45.5%	43.8%	8.0%	-0.4%	-3.0%	-10.1%	5.7%	5.75%
Op. Income	19.3%	16.4%	11.7%	6.8%	11.8%	11.2%	7.3%	14.3%	18.8%	27.0%	38.2%	53.8%	53.4%	47.2%	44.8%	7.4%	-1.0%	-3.5%	-10.7%	3.3%	3.25%
OCF Growth	snapshot only																				22.08%
Asset Growth	snapshot only																				8.43%
Equity Growth	snapshot only																				17.03%
Debt Growth	snapshot only																				-10.35%
Shares Change	snapshot only																				0.03%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	10.9%	9.2%	7.7%	6.4%	5.3%	5.5%	7.1%	11.1%	15.6%	20.8%	24.3%	26.7%	32.7%	35.4%	38.4%	39.7%	38.9%	36.5%	32.4%	28.3%	28.35%
Revenue 5Y	14.7%	13.1%	11.9%	10.9%	10.1%	10.7%	11.9%	14.3%	16.0%	18.3%	19.9%	20.9%	21.9%	22.3%	22.9%	23.0%	22.1%	21.9%	21.1%	21.6%	21.64%
EPS 3Y	13.8%	14.3%	14.1%	12.9%	16.7%	16.5%	15.3%	18.1%	16.4%	19.1%	19.3%	25.8%	29.7%	29.5%	30.9%	25.4%	23.3%	23.5%	23.5%	22.3%	22.25%
EPS 5Y	14.1%	14.0%	14.1%	14.0%	14.0%	14.0%	12.9%	14.9%	14.6%	16.6%	17.5%	21.5%	24.8%	25.1%	26.2%	23.3%	20.3%	19.8%	17.9%	17.6%	17.61%
Net Income 3Y	11.8%	12.3%	12.4%	11.7%	16.1%	15.8%	14.5%	17.1%	15.8%	18.7%	19.2%	24.3%	27.9%	27.8%	29.1%	23.6%	21.7%	21.6%	21.9%	20.7%	20.70%
Net Income 5Y	12.7%	12.6%	12.7%	12.5%	12.4%	12.3%	11.6%	13.5%	13.4%	15.0%	16.1%	19.6%	23.3%	23.7%	24.7%	21.8%	19.0%	18.7%	17.2%	16.9%	16.90%
EBITDA 3Y	11.1%	11.1%	12.4%	13.4%	17.8%	17.2%	15.0%	16.4%	14.7%	13.7%	14.1%	19.1%	22.3%	24.8%	26.7%	21.7%	20.2%	20.3%	20.0%	19.5%	19.50%
EBITDA 5Y	11.6%	10.2%	9.9%	9.6%	9.2%	9.1%	8.5%	10.0%	10.9%	12.9%	15.0%	19.5%	23.3%	23.6%	23.9%	20.5%	17.6%	15.7%	14.0%	14.0%	14.03%
Gross Profit 3Y	13.5%	13.8%	13.9%	14.2%	14.2%	14.2%	14.4%	15.7%	17.1%	17.8%	17.4%	16.2%	18.5%	19.6%	21.0%	21.8%	21.0%	20.0%	18.2%	17.5%	17.51%
Gross Profit 5Y	14.9%	13.9%	13.4%	13.1%	12.7%	13.2%	13.5%	14.6%	15.2%	15.9%	16.4%	16.5%	17.4%	17.7%	18.3%	18.4%	17.9%	17.5%	16.2%	16.3%	16.27%
Op. Income 3Y	6.8%	8.5%	10.4%	11.7%	17.1%	16.9%	15.3%	18.0%	16.6%	18.0%	18.3%	23.4%	26.8%	27.6%	29.0%	23.6%	21.7%	21.7%	21.4%	19.5%	19.50%
Op. Income 5Y	8.8%	8.3%	8.3%	8.1%	7.9%	7.9%	7.3%	9.1%	10.1%	12.5%	14.8%	19.6%	23.9%	24.5%	25.2%	22.1%	19.2%	18.5%	16.5%	15.8%	15.80%
FCF 3Y	30.7%	37.1%	11.8%	-40.3%	0.1%	1.6%	33.8%	29.3%	-6.4%	-16.6%	-27.2%	-32.7%	-6.1%	-11.8%	13.8%	1.0%	25.4%	31.2%	8.2%	-1.2%	-1.23%
FCF 5Y	25.9%	14.9%	-1.9%	-27.9%	-10.4%	-2.4%	13.9%	17.3%	7.6%	0.2%	-3.5%	-8.1%	14.1%	8.4%	13.2%	11.6%	1.4%	9.9%	9.1%	-0.3%	-0.30%
OCF 3Y	29.3%	35.0%	11.1%	-36.4%	-1.3%	1.6%	31.5%	28.7%	-4.1%	-12.9%	-22.8%	-28.1%	-3.5%	-8.9%	17.1%	91.8%	27.5%	31.7%	9.1%	1.1%	1.10%
OCF 5Y	24.7%	14.4%	-1.7%	-24.5%	-9.5%	-1.1%	14.3%	17.4%	8.8%	2.3%	-0.9%	-5.4%	13.9%	8.8%	13.9%	12.5%	3.2%	11.5%	10.3%	1.7%	1.74%
Assets 3Y	17.7%	14.4%	14.4%	14.4%	14.4%	15.9%	15.9%	15.9%	15.9%	13.7%	13.7%	13.7%	13.7%	17.0%	17.0%	17.0%	17.0%	12.4%	12.4%	12.4%	12.39%
Assets 5Y	18.9%	13.4%	13.4%	13.4%	13.4%	15.5%	15.5%	15.5%	15.5%	16.4%	16.4%	16.4%	16.4%	15.3%	15.3%	15.3%	15.3%	12.3%	12.3%	12.3%	12.34%
Equity 3Y	13.8%	13.4%	13.4%	13.4%	13.4%	15.3%	15.3%	15.3%	15.3%	15.9%	15.9%	15.9%	15.9%	17.8%	17.8%	17.8%	17.8%	17.7%	17.7%	17.7%	17.73%
Book Value 3Y	15.8%	15.4%	15.1%	14.6%	14.0%	16.0%	16.1%	16.2%	15.8%	16.3%	16.0%	17.3%	17.5%	19.4%	19.5%	19.5%	19.4%	19.6%	19.2%	19.2%	19.24%
Dividend 3Y	-15.0%	-34.5%	-55.5%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.96	0.95	0.91	0.88	0.87	0.90	0.90	0.86	0.74	0.68	0.67	0.70	0.72	0.74	0.76	0.80	0.84	0.87	0.87	0.91	0.912
Earnings Stability	0.96	0.94	0.95	0.93	0.95	0.95	0.96	0.95	0.96	0.92	0.88	0.82	0.84	0.87	0.85	0.92	0.89	0.90	0.86	0.92	0.921
Margin Stability	0.93	0.92	0.91	0.91	0.90	0.90	0.91	0.92	0.91	0.89	0.87	0.86	0.84	0.83	0.82	0.82	0.82	0.82	0.83	0.85	0.846
Rev. Growth Consistency	1.00	0.00	0.00	0.00	1.00	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	1.000
Earn. 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	0.00	0.00	0.00	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	0.94	0.93	0.94	0.96	0.94	0.95	0.97	0.95	0.93	0.89	0.85	0.50	0.50	0.81	0.82	0.97	1.00	0.98	0.96	0.98	0.978
Earnings Smoothness	0.85	0.84	0.87	0.91	0.86	0.89	0.93	0.87	0.84	0.76	0.68	0.57	0.56	0.62	0.63	0.93	0.99	0.96	0.90	0.95	0.946
ROE Trend	0.01	0.01	0.01	0.00	0.00	-0.00	-0.01	-0.01	0.00	0.01	0.02	0.05	0.06	0.04	0.05	0.01	-0.01	-0.02	-0.03	-0.03	-0.029
Gross Margin Trend	0.11	0.13	0.14	0.15	0.14	0.11	0.05	-0.03	-0.12	-0.20	-0.23	-0.25	-0.24	-0.21	-0.17	-0.11	-0.07	-0.02	0.00	0.02	0.024
FCF Margin Trend	0.18	0.23	-0.05	-0.37	-0.24	-0.22	0.11	0.15	-0.15	-0.28	-0.29	-0.18	-0.03	-0.03	-0.12	-0.09	-0.04	0.09	0.13	0.08	0.078
Sustainable Growth Rate	17.9%	16.4%	16.9%	17.4%	18.0%	15.8%	15.7%	17.1%	18.2%	17.3%	18.6%	22.6%	24.3%	21.4%	22.8%	20.6%	20.3%	17.4%	17.4%	18.4%	18.37%
Internal Growth Rate	1.7%	1.6%	1.6%	1.7%	1.7%	1.5%	1.5%	1.7%	1.8%	1.7%	1.8%	2.2%	2.3%	2.1%	2.3%	2.0%	2.0%	1.9%	1.9%	2.0%	1.95%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	1.81	1.91	0.97	0.24	0.71	0.89	1.74	1.79	0.95	0.61	0.46	0.41	0.78	0.69	0.73	0.91	0.82	1.13	1.24	1.05	1.050
FCF/OCF	0.97	0.97	0.94	0.76	0.92	0.90	0.94	0.94	0.89	0.84	0.81	0.80	0.89	0.88	0.86	0.89	0.88	0.89	0.92	0.88	0.879
FCF/Net Income	snapshot only																				0.923
OCF/EBITDA	snapshot only																				0.710
CapEx/Revenue	1.6%	1.5%	1.8%	1.9%	1.8%	2.8%	3.1%	2.8%	2.7%	2.4%	2.0%	2.2%	2.2%	2.0%	2.5%	2.2%	2.2%	2.8%	2.4%	2.9%	2.91%
CapEx/Depreciation	snapshot only																				1.263
Accruals Ratio	-0.01	-0.01	0.00	0.01	0.00	0.00	-0.01	-0.01	0.00	0.01	0.01	0.01	0.01	0.01	0.01	0.00	0.00	-0.00	-0.00	-0.00	-0.001
Sloan Accruals	snapshot only																				-0.064
Cash Flow Adequacy	snapshot only																				8.242
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	11.5%	13.6%	10.1%	5.9%	5.9%	6.0%	4.8%	4.3%	14.1%	16.9%	20.4%	32.8%	23.2%	21.4%	18.2%	5.4%	11.4%	15.7%	13.5%	12.7%	12.75%
Div. Increase Streak	0	0	0	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	-0.42	-0.73	-0.92	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.8%	1.0%	0.7%	0.4%	0.5%	0.7%	0.5%	0.5%	1.7%	2.2%	3.0%	4.2%	3.2%	2.9%	2.4%	0.6%	1.3%	1.6%	1.2%	1.2%	1.16%
Net Buyback Yield	0.8%	1.0%	0.7%	0.4%	0.5%	0.7%	0.5%	0.5%	1.7%	2.2%	3.0%	4.2%	3.2%	2.9%	2.4%	0.6%	1.3%	1.6%	1.2%	1.2%	1.16%
Total Shareholder Return	0.8%	1.0%	0.7%	0.4%	0.5%	0.7%	0.5%	0.5%	1.7%	2.2%	3.0%	4.2%	3.2%	2.9%	2.4%	0.6%	1.3%	1.6%	1.2%	1.2%	1.16%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.69	0.71	0.71	0.71	0.71	0.71	0.71	0.70	0.70	0.71	0.71	0.71	0.71	0.71	0.71	0.71	0.71	0.71	0.72	0.73	0.726
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	0.42	0.43	0.44	0.45	0.46	0.45	0.41	0.39	0.36	0.34	0.33	0.37	0.37	0.36	0.36	0.31	0.31	0.32	0.32	0.31	0.315
Asset Turnover	0.06	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.07	0.07	0.07	0.08	0.09	0.08	0.09	0.09	0.09	0.08	0.08	0.08	0.084
Equity Multiplier	10.88	10.68	10.68	10.68	10.68	10.42	10.42	10.42	10.42	10.62	10.62	10.62	10.62	10.27	10.27	10.27	10.27	9.58	9.58	9.58	9.583

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$3.42	$3.56	$3.68	$3.77	$3.91	$3.99	$3.95	$4.29	$4.58	$5.14	$5.54	$6.93	$7.45	$7.74	$8.25	$7.43	$7.34	$7.52	$7.43	$7.84	$7.84
Book Value/Share	$20.35	$23.14	$23.10	$23.06	$23.11	$27.24	$27.16	$27.15	$27.10	$32.11	$32.06	$33.09	$33.03	$39.38	$39.38	$39.34	$39.34	$46.57	$46.03	$46.03	$54.17
Tangible Book/Share	$18.10	$20.93	$20.89	$20.85	$20.90	$24.23	$24.16	$24.15	$24.10	$29.13	$29.09	$30.03	$29.97	$36.45	$36.44	$36.41	$36.41	$43.76	$43.25	$43.25	$43.25
Revenue/Share	$11.77	$11.76	$11.70	$11.72	$11.90	$12.57	$13.64	$15.62	$18.08	$21.17	$23.58	$26.35	$28.65	$30.39	$32.35	$33.33	$33.16	$33.52	$32.88	$34.31	$37.12
FCF/Share	$6.01	$6.64	$3.37	$0.70	$2.57	$3.20	$6.43	$7.23	$3.88	$2.64	$2.05	$2.25	$5.19	$4.75	$5.19	$6.01	$5.29	$7.58	$8.45	$7.24	$7.53
OCF/Share	$6.20	$6.81	$3.58	$0.92	$2.79	$3.56	$6.85	$7.67	$4.36	$3.15	$2.53	$2.82	$5.81	$5.37	$6.00	$6.75	$6.02	$8.52	$9.24	$8.23	$7.92
Cash/Share	$32.14	$14.91	$14.89	$14.86	$14.90	$24.29	$24.22	$24.21	$24.17	$41.29	$41.22	$42.56	$42.48	$36.48	$36.47	$36.44	$36.44	$34.75	$34.34	$34.34	$27.73
EBITDA/Share	$5.72	$5.62	$5.72	$5.83	$5.99	$6.12	$6.07	$6.54	$6.98	$7.63	$8.20	$10.20	$10.92	$11.39	$12.12	$10.97	$10.83	$11.16	$10.89	$11.60	$11.60
Debt/Share	$7.91	$9.49	$9.48	$9.46	$9.48	$9.33	$9.30	$9.30	$9.28	$7.57	$7.55	$7.80	$7.78	$7.15	$7.15	$7.14	$7.14	$6.47	$6.40	$6.40	$6.40
Net Debt/Share	$-24.24	$-5.42	$-5.41	$-5.40	$-5.41	$-14.96	$-14.92	$-14.91	$-14.88	$-33.72	$-33.67	$-34.76	$-34.69	$-29.33	$-29.33	$-29.30	$-29.30	$-28.27	$-27.94	$-27.94	$-27.94

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.133
Altman Z-Prime	snapshot only																				-4.224
Piotroski F-Score	8	6	5	5	5	6	7	8	6	7	7	7	7	6	6	6	5	7	5	6	6
Beneish M-Score	-2.52	-1.95	-1.88	-1.82	-1.85	-2.31	-2.24	-1.92	-1.80	-1.85	-2.04	-2.63	-2.32	-2.59	-2.60	-2.74	-2.79	-2.00	-1.96	-2.02	-2.021
Ohlson O-Score	snapshot only																				-4.020
Net-Net WC	snapshot only																				$-338.73
EVA	snapshot only																				$351285400.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AA+
Credit Score	83.73	83.01	77.27	60.04	65.03	77.38	83.22	85.10	80.88	80.86	68.31	74.73	89.60	91.08	91.05	91.24	91.43	91.23	91.11	91.37	91.374
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				0.137
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				96
Sector Credit Rank	snapshot only																				86

AX NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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