— Know what they know.
Not Investment Advice

BMI NYSE

Badger Meter, Inc.
1W: +2.5% 1M: -2.5% 3M: -24.2% YTD: -31.6% 1Y: -51.0% 3Y: -10.6% 5Y: +33.3%
$125.84
+6.00 (+5.01%)
After Hours: $124.42 (-1.42, -1.12%)
Weekly Expected Move ±5.4%
$102 $108 $114 $120 $127
NYSE · Technology · Hardware, Equipment & Parts · Alpha Radar Neutral · Power 48 · $3.7B mcap · 29M float · 1.95% daily turnover · Short 77% 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
66.9 / 100
NoneWeakNarrowWide
Primary source: Cost Advantage  ·  ROIC: 26.0%  ·  5Y Avg: 32.9%
Cost Advantage ★
84
Intangibles
56
Switching Cost
76
Network Effect
42
Scale
72
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. BMI has a Narrow competitive edge (66.9/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Cost Advantage. ROIC of 26.0% 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
$110
Low
$141
Avg Target
$169
High
Based on 4 analysts since Apr 17, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 5Hold: 10Sell: 3Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$147.60
Analysts5
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-05-22 Stifel Nicolaus Nathan Jones $174 $140 -34 +16.4% $120.24
2026-04-20 RBC Capital $191 $169 -22 +49.4% $113.09
2026-04-20 Robert W. Baird $165 $145 -20 +25.5% $115.54
2026-04-20 Barclays $136 $110 -26 -4.8% $115.54
2026-04-14 Stifel Nicolaus $166 $174 +8 +8.1% $161.00
2026-01-29 Seaport Global Scott Graham $255 $220 -35 +55.5% $141.52
2026-01-29 Deutsche Bank Andrew Krill $184 $167 -17 +15.9% $144.07
2026-01-29 RBC Capital Jeffrey Reive $229 $191 -38 +30.9% $145.93
2026-01-29 Robert W. Baird Robert Mason $205 $165 -40 +12.8% $146.32
2026-01-29 Stifel Nicolaus Nathan Jones $215 $166 -49 +12.8% $147.15
2026-01-29 Barclays $157 $136 -21 -7.1% $146.32
2026-01-07 Barclays William Grippin Initiated $157 -13.7% $181.83
2025-12-12 Jefferies Initiated $220 +20.7% $182.34
2025-10-22 RBC Capital Jeffrey Reive Initiated $229 +29.1% $177.35
2025-10-21 Stifel Nicolaus Nathan Jones $208 $215 +7 +21.2% $177.35
2025-10-20 Stifel Nicolaus Nathan Jones $224 $208 -16 +15.6% $179.94
2025-10-20 Robert W. Baird $184 $205 +21 +13.9% $179.94
2025-08-25 Seaport Global $250 $255 +5 +37.8% $185.07
2025-07-23 Stifel Nicolaus Nathan Jones $233 $224 -9 +13.2% $197.83
2025-07-21 Stifel Nicolaus Nathan Jones $196 $233 +37 -5.3% $246.09
2025-04-24 Argus Research Kristina Ruggeri $230 $240 +10 +10.7% $216.73
2025-04-16 Stifel Nicolaus Nathan Jones $209 $196 -13 +6.6% $183.90
2025-02-03 Stifel Nicolaus Nathan Jones $175 $209 +34 -3.1% $215.70
2024-10-21 Argus Research Kristina Ruggeri $218 $230 +12 +12.3% $204.82
2024-10-18 Seaport Global Scott Graham $235 $250 +15 +18.2% $211.47
2024-09-11 Seaport Global Scott Graham Initiated $235 +20.4% $195.19
2024-07-23 Argus Research Kristina Ruggeri Initiated $218 +8.2% $201.52
2024-07-22 Robert W. Baird Richard Eastman $180 $184 +4 -3.4% $190.56
2024-04-19 Robert W. Baird Richard Eastman Initiated $180 +0.9% $178.48
2024-04-19 Deutsche Bank Andy Krill Initiated $184 +3.1% $178.48
2024-04-18 Stifel Nicolaus Nathan Jones Initiated $175 -1.9% $178.48

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+
May 22, 2026
DCF
5
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. BMI receives an overall rating of B+. Strongest factors: DCF (5/5), 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
2026-05-12 A- B+
2026-05-11 B+ A-
2026-04-21 B B+
2026-04-17 B+ B
2026-03-02 B B+
2026-01-03 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.

65 Grade A
Profitability
64
Balance Sheet
94
Earnings Quality
75
Growth
42
Value
50
Momentum
71
Safety
100
Cash Flow
77
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. BMI scores highest in Safety (100/100) and lowest in Growth (42/100). An overall grade of A places BMI 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
12.26
Safe Zone
Piotroski F-Score
4/9
Beneish M-Score
-1.91
Unlikely Manipulator
Ohlson O-Score
-10.24
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AA
Score: 89.0/100
Trend: Stable
Earnings Quality
75/100
OCF/NI: 1.41x
Accruals: -6.0%
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. BMI scores 12.26, 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. BMI scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. BMI's score of -1.91 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. BMI'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. BMI receives an estimated rating of AA (score: 89.0/100), 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). BMI'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
27.71x
PEG
-9.76x
P/S
4.03x
P/B
5.24x
P/FCF
26.46x
P/OCF
24.24x
EV/EBITDA
21.31x
EV/Revenue
4.74x
EV/EBIT
24.55x
EV/FCF
25.12x
Earnings Yield
2.92%
FCF Yield
3.78%
Shareholder Yield
2.20%
Graham Number
$49.30
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 27.7x earnings, BMI commands a growth premium. Graham's intrinsic value formula yields $49.30 per share, 155% 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
0.750
NI / EBT
×
Interest Burden
1.007
EBT / EBIT
×
EBIT Margin
0.193
EBIT / Rev
×
Asset Turnover
1.002
Rev / Assets
×
Equity Multiplier
1.357
Assets / Equity
=
ROE
19.8%
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. BMI's ROE of 19.8% is driven by Asset Turnover (1.002), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

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

Adj. Growth Rate
22.28%
Fair P/E
53.06x
Intrinsic Value
$235.92
Price/Value
0.65x
Margin of Safety
35.42%
Premium
-35.42%
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 BMI's realized 22.3% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $235.92, BMI appears undervalued with a 35% margin of safety. The adjusted fair P/E of 53.1x compares to the current market P/E of 27.7x.

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
$125.78
Median 1Y
$133.05
5th Pctile
$71.50
95th Pctile
$249.25
Ann. Volatility
36.6%
Analyst Target
$147.60
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
Kenneth C. Bockhorst
Chairman, President & CEO
$880,000 $3,042,144 $5,932,862
Robert A. Wrocklage
Senior Vice President - Chief Financial Officer
$500,000 $709,586 $1,952,394
Sheryl L. Hopkins
Vice President - Human Resources
$360,000 $228,187 $984,668
Kimberly K. Stoll
Vice President - Sales and Marketing
$325,000 $228,187 $890,043
William R. A.
Bergum Vice President - General Counsel
$300,000 $228,187 $867,776

CEO Pay Ratio

Insufficient data for pay ratio.

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
2,477
+12.1% YoY
Revenue / Employee
$370,070
Rev: $916,663,000
Profit / Employee
$57,180
NI: $141,634,000
SGA / Employee
Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

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

Profitability
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
ROE 16.1% 16.4% 15.9% 16.1% 16.8% 17.3% 15.7% 16.9% 18.3% 20.2% 19.3% 21.3% 23.5% 24.8% 22.3% 23.9% 24.2% 24.7% 21.5% 19.8% 19.79%
ROA 12.5% 12.7% 12.2% 12.3% 12.8% 13.2% 11.7% 12.6% 13.6% 15.1% 14.0% 15.5% 17.1% 18.0% 16.3% 17.5% 17.7% 18.1% 15.8% 14.6% 14.59%
ROIC 19.3% 19.7% 19.3% 19.5% 20.3% 21.0% 21.7% 23.2% 25.0% 27.3% 27.6% 30.4% 33.4% 35.0% 38.1% 41.1% 41.9% 43.1% 28.3% 26.0% 26.02%
ROCE 18.1% 18.0% 17.5% 17.8% 18.5% 19.5% 17.7% 19.0% 20.5% 22.0% 20.2% 22.1% 24.2% 25.8% 22.6% 24.5% 25.1% 26.0% 22.8% 21.0% 21.03%
Gross Margin 40.8% 39.8% 40.4% 38.3% 39.7% 38.9% 38.7% 39.5% 39.5% 39.1% 39.2% 39.3% 39.4% 40.2% 40.3% 42.9% 41.1% 40.7% 42.1% 41.7% 41.69%
Operating Margin 15.2% 15.1% 16.8% 14.2% 16.0% 16.1% 15.3% 15.7% 16.8% 16.9% 17.6% 18.6% 19.2% 19.5% 19.1% 22.2% 18.8% 19.6% 19.5% 17.4% 17.39%
Net Margin 11.4% 12.3% 12.7% 10.8% 12.1% 12.1% 11.9% 12.2% 12.8% 13.9% 13.6% 14.8% 15.3% 15.4% 15.0% 17.3% 14.5% 14.9% 15.2% 13.5% 13.51%
EBITDA Margin 20.9% 20.5% 21.9% 19.3% 20.8% 20.6% 19.4% 20.1% 20.7% 20.7% 21.5% 22.7% 22.9% 23.3% 19.1% 26.0% 22.9% 23.8% 24.2% 17.4% 17.39%
FCF Margin 15.5% 14.0% 16.0% 11.6% 12.4% 13.4% 13.5% 13.9% 13.4% 13.6% 13.9% 13.9% 15.0% 16.3% 17.2% 18.0% 18.3% 18.5% 18.5% 18.9% 18.85%
OCF Margin 17.7% 16.3% 17.3% 12.7% 13.3% 14.0% 14.6% 15.4% 15.0% 15.2% 15.7% 15.3% 16.3% 17.5% 18.8% 19.5% 20.0% 20.1% 20.0% 20.6% 20.58%
ROE 3Y Avg snapshot only 20.08%
ROE 5Y Avg snapshot only 18.33%
ROA 3Y Avg snapshot only 14.71%
ROIC 3Y Avg snapshot only 26.29%
ROIC Economic snapshot only 18.23%
Cash ROA snapshot only 18.96%
Cash ROIC snapshot only 37.88%
CROIC snapshot only 34.70%
NOPAT Margin snapshot only 14.14%
Pretax Margin snapshot only 19.43%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 10.68%
SBC / Revenue snapshot only 0.76%
Valuation
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
P/E Ratio 49.92 50.70 49.89 46.33 36.08 40.05 47.22 49.15 55.18 48.87 48.45 46.08 48.22 53.76 49.48 41.66 53.13 37.98 36.38 34.26 27.711
P/S Ratio 5.96 5.97 6.01 5.48 4.33 4.79 5.55 5.94 6.77 6.24 6.38 6.36 6.96 7.96 7.48 6.56 8.25 5.85 5.62 4.99 4.031
P/B Ratio 7.70 7.96 7.54 7.06 5.74 6.58 7.10 7.95 9.65 9.43 8.69 9.13 10.54 12.38 10.20 9.22 11.90 8.69 7.22 6.27 5.241
P/FCF 38.36 42.73 37.61 47.40 34.96 35.75 41.03 42.83 50.72 46.00 45.73 45.69 46.46 48.92 43.47 36.43 45.05 31.69 30.37 26.46 26.460
P/OCF 33.77 36.55 34.71 43.01 32.44 34.24 38.10 38.59 45.31 40.97 40.75 41.50 42.77 45.38 39.88 33.56 41.26 29.12 28.05 24.24 24.240
EV/EBITDA 27.23 28.04 27.71 25.70 20.16 22.38 26.47 28.21 32.43 29.83 29.41 28.51 30.56 34.08 32.34 27.14 34.56 23.96 22.20 21.31 21.309
EV/Revenue 5.81 5.82 5.84 5.31 4.17 4.63 5.31 5.70 6.56 6.04 6.10 6.11 6.72 7.72 7.12 6.21 7.91 5.52 5.37 4.74 4.737
EV/EBIT 37.20 38.55 37.53 34.62 26.80 29.26 34.39 36.15 40.96 37.26 36.42 34.93 37.11 41.16 37.28 31.01 39.51 27.35 26.30 24.55 24.548
EV/FCF 37.36 41.65 36.53 45.94 33.64 34.58 39.23 41.14 49.08 44.48 43.78 43.83 44.82 47.46 41.40 34.50 43.21 29.92 29.04 25.12 25.123
Earnings Yield 2.0% 2.0% 2.0% 2.2% 2.8% 2.5% 2.1% 2.0% 1.8% 2.0% 2.1% 2.2% 2.1% 1.9% 2.0% 2.4% 1.9% 2.6% 2.7% 2.9% 2.92%
FCF Yield 2.6% 2.3% 2.7% 2.1% 2.9% 2.8% 2.4% 2.3% 2.0% 2.2% 2.2% 2.2% 2.2% 2.0% 2.3% 2.7% 2.2% 3.2% 3.3% 3.8% 3.78%
Price/Tangible Book snapshot only 12.454
EV/OCF snapshot only 23.015
EV/Gross Profit snapshot only 11.451
Acquirers Multiple snapshot only 25.110
Shareholder Yield snapshot only 2.20%
Graham Number snapshot only $49.30
Leverage & Solvency
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Current Ratio 3.29 3.29 3.18 3.18 3.18 3.18 3.15 3.15 3.15 3.15 3.35 3.35 3.35 3.35 4.57 4.57 4.57 4.57 3.36 3.36 3.364
Quick Ratio 2.09 2.09 1.97 1.97 1.97 1.97 2.07 2.07 2.07 2.07 2.19 2.19 2.19 2.19 3.36 3.36 3.36 3.36 2.36 2.36 2.356
Debt/Equity 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 0.000
Net Debt/Equity -0.20 -0.20 -0.22 -0.22 -0.22 -0.22 -0.31 -0.31 -0.31 -0.31 -0.37 -0.37 -0.37 -0.37 -0.49 -0.49 -0.49 -0.49 -0.32 -0.32 -0.317
Debt/Assets 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 0.000
Debt/EBITDA 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 0.000
Net Debt/EBITDA -0.73 -0.72 -0.82 -0.81 -0.79 -0.76 -1.22 -1.15 -1.08 -1.02 -1.31 -1.21 -1.12 -1.05 -1.62 -1.51 -1.48 -1.42 -1.02 -1.13 -1.134
Interest Coverage 2801.04 1817.45 3930.15 5694.07 6927.17 3371.65 3966.95 10384.11
Equity Multiplier 1.30 1.30 1.32 1.32 1.32 1.32 1.36 1.36 1.36 1.36 1.39 1.39 1.39 1.39 1.35 1.35 1.35 1.35 1.36 1.36 1.365
Cash Ratio snapshot only 1.500
Defensive Interval snapshot only 612.0 days
Efficiency & Turnover
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Asset Turnover 1.04 1.08 1.01 1.04 1.07 1.11 1.00 1.04 1.11 1.18 1.07 1.12 1.18 1.22 1.08 1.11 1.14 1.18 1.02 1.00 1.002
Inventory Turnover 3.40 3.51 3.31 3.45 3.57 3.71 3.15 3.28 3.50 3.70 3.12 3.29 3.47 3.55 3.35 3.40 3.46 3.56 3.62 3.56 3.560
Receivables Turnover 7.58 7.83 7.92 8.15 8.38 8.69 7.94 8.31 8.85 9.38 8.79 9.25 9.76 10.04 9.85 10.16 10.41 10.74 9.32 9.12 9.119
Payables Turnover 8.37 8.64 7.81 8.15 8.42 8.76 6.10 6.36 6.77 7.18 5.57 5.87 6.20 6.34 7.24 7.35 7.48 7.70 8.36 8.22 8.218
DSO 48 47 46 45 44 42 46 44 41 39 42 39 37 36 37 36 35 34 39 40 40.0 days
DIO 107 104 110 106 102 98 116 111 104 99 117 111 105 103 109 107 105 102 101 103 102.5 days
DPO 44 42 47 45 43 42 60 57 54 51 65 62 59 58 50 50 49 47 44 44 44.4 days
Cash Conversion Cycle 112 108 110 106 102 99 102 98 92 87 93 88 84 82 96 94 92 89 96 98 98.1 days
Fixed Asset Turnover snapshot only 11.260
Operating Cycle snapshot only 142.5 days
Cash Velocity snapshot only 3.968
Capital Intensity snapshot only 1.086
Growth (YoY)
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue 12.2% 14.5% 18.7% 19.5% 14.6% 15.0% 11.9% 14.0% 17.9% 20.7% 24.4% 25.1% 24.0% 20.2% 17.5% 15.1% 11.8% 12.1% 10.9% 5.2% 5.19%
Net Income 20.1% 16.9% 23.4% 19.9% 15.2% 16.8% 9.2% 16.4% 20.6% 29.0% 39.3% 43.0% 45.9% 39.3% 34.9% 31.2% 20.3% 16.7% 13.4% -2.7% -2.71%
EPS 19.9% 16.4% 22.9% 19.7% 15.0% 16.7% 9.1% 16.2% 20.2% 28.5% 38.9% 42.6% 45.5% 38.9% 35.4% 30.9% 20.1% 16.5% 12.7% -2.0% -2.05%
FCF -15.2% -21.3% 0.3% -25.6% -8.7% 10.3% -5.3% 36.7% 27.1% 22.3% 28.2% 25.7% 39.2% 44.1% 44.9% 48.7% 36.6% 27.2% 19.3% 10.2% 10.15%
EBITDA 16.5% 11.9% 18.0% 15.9% 11.1% 14.7% 6.5% 11.5% 15.3% 18.1% 28.8% 32.5% 34.9% 34.5% 24.6% 23.0% 16.5% 14.1% 21.9% 2.2% 2.15%
Op. Income 18.6% 12.8% 20.8% 19.4% 14.2% 20.4% 10.9% 17.1% 21.2% 23.7% 35.2% 38.6% 40.3% 39.1% 33.8% 31.8% 23.0% 19.1% 16.1% -0.9% -0.95%
OCF Growth snapshot only 10.78%
Asset Growth snapshot only 19.25%
Equity Growth snapshot only 17.66%
Shares Change snapshot only -0.68%
Dividend Growth snapshot only 19.25%
Growth (CAGR)
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue 3Y 4.0% 4.2% 5.2% 6.2% 8.1% 9.5% 10.0% 11.4% 14.9% 16.7% 18.2% 19.4% 18.8% 18.6% 17.8% 17.9% 17.8% 17.6% 17.5% 14.8% 14.83%
Revenue 5Y 3.2% 4.0% 5.1% 5.7% 6.2% 6.8% 7.0% 7.9% 8.7% 9.4% 10.2% 11.3% 13.0% 13.8% 14.2% 14.8% 16.0% 16.5% 16.6% 15.6% 15.57%
EPS 3Y 24.2% 33.4% 29.6% 25.4% 20.8% 12.6% 11.9% 13.8% 18.4% 20.4% 23.0% 25.6% 26.2% 27.7% 27.1% 29.4% 28.0% 27.7% 28.5% 22.3% 22.28%
EPS 5Y 12.1% 12.1% 13.3% 13.0% 13.2% 14.4% 13.8% 16.3% 21.5% 28.9% 27.0% 26.7% 25.2% 20.6% 21.4% 22.4% 23.7% 23.1% 23.2% 20.5% 20.52%
Net Income 3Y 24.4% 33.6% 29.9% 25.5% 20.9% 12.8% 12.1% 14.1% 18.6% 20.7% 23.3% 25.9% 26.5% 28.0% 27.1% 29.7% 28.4% 28.0% 28.7% 22.2% 22.20%
Net Income 5Y 12.3% 12.4% 13.5% 13.2% 13.4% 14.6% 14.0% 16.5% 21.8% 29.1% 27.2% 26.9% 25.5% 20.9% 21.5% 22.7% 24.0% 23.4% 23.5% 20.6% 20.56%
EBITDA 3Y 13.1% 18.5% 20.2% 18.1% 15.2% 10.8% 9.7% 11.0% 14.3% 14.8% 17.4% 19.6% 20.0% 22.1% 19.6% 22.0% 21.9% 21.9% 25.1% 18.5% 18.51%
EBITDA 5Y 6.5% 6.4% 7.8% 7.7% 7.7% 8.8% 7.2% 9.1% 13.1% 17.6% 18.9% 19.5% 18.9% 16.6% 16.2% 17.4% 18.6% 18.4% 19.7% 16.6% 16.55%
Gross Profit 3Y 6.9% 6.5% 8.2% 7.6% 8.7% 10.3% 10.4% 11.7% 15.1% 16.6% 18.0% 18.6% 17.6% 17.8% 17.0% 18.9% 19.4% 19.5% 20.2% 16.9% 16.92%
Gross Profit 5Y 4.8% 5.1% 6.4% 6.6% 6.8% 7.7% 7.1% 8.6% 9.8% 10.2% 11.2% 11.9% 13.2% 14.4% 15.0% 15.9% 17.3% 17.6% 17.8% 16.3% 16.31%
Op. Income 3Y 12.0% 9.7% 11.4% 9.3% 11.6% 13.1% 12.0% 13.6% 18.0% 18.9% 21.9% 24.7% 24.8% 27.5% 26.1% 28.8% 27.9% 27.0% 28.1% 21.9% 21.86%
Op. Income 5Y 7.5% 7.3% 9.2% 9.2% 9.4% 11.2% 9.4% 12.4% 14.2% 14.5% 15.7% 16.2% 18.8% 20.0% 20.5% 21.8% 23.2% 22.7% 23.0% 20.4% 20.39%
FCF 3Y 44.4% 26.8% 16.0% -1.9% -1.0% -0.2% 1.5% -1.6% -0.5% 2.0% 6.8% 8.5% 17.4% 24.8% 20.8% 36.7% 34.2% 30.9% 30.4% 27.2% 27.22%
FCF 5Y 22.1% 14.9% 12.1% 8.9% 4.2% 9.3% 17.1% 22.5% 28.5% 22.4% 13.7% 10.2% 11.4% 11.9% 14.2% 12.2% 13.4% 14.2% 16.1% 15.9% 15.94%
OCF 3Y 29.9% 21.6% 13.2% -2.5% -2.1% -1.7% 0.7% -0.8% 0.8% 3.0% 7.1% 8.2% 15.6% 21.5% 21.0% 36.0% 34.8% 32.7% 30.6% 26.5% 26.52%
OCF 5Y 13.2% 10.2% 9.3% 5.6% 1.6% 4.6% 10.6% 15.6% 20.2% 18.4% 12.8% 9.7% 10.8% 11.5% 13.9% 12.3% 13.7% 14.2% 15.4% 15.6% 15.55%
Assets 3Y 6.4% 6.4% 10.6% 10.6% 10.6% 10.6% 12.6% 12.6% 12.6% 12.6% 15.0% 15.0% 15.0% 15.0% 15.4% 15.4% 15.4% 15.4% 17.3% 17.3% 17.31%
Assets 5Y 6.0% 6.0% 8.7% 8.7% 8.7% 8.7% 9.0% 9.0% 9.0% 9.0% 12.8% 12.8% 12.8% 12.8% 14.1% 14.1% 14.1% 14.1% 15.6% 15.6% 15.62%
Equity 3Y 9.2% 9.2% 9.9% 9.9% 9.9% 9.9% 10.1% 10.1% 10.1% 10.1% 12.7% 12.7% 12.7% 12.7% 14.6% 14.6% 14.6% 14.6% 17.3% 17.3% 17.26%
Book Value 3Y 9.0% 9.0% 9.7% 9.8% 9.8% 9.7% 9.9% 9.9% 9.9% 9.8% 12.4% 12.4% 12.4% 12.4% 14.6% 14.3% 14.3% 14.3% 17.1% 17.3% 17.33%
Dividend 3Y 1.8% 2.3% 2.7% 3.2% 3.6% 3.6% 3.7% 3.8% 3.9% 4.4% 5.0% 5.6% 6.1% 6.6% 7.3% 7.4% 7.8% 7.1% 6.5% 6.1% 6.11%
Growth Quality
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue Stability 0.67 0.67 0.66 0.70 0.77 0.77 0.79 0.79 0.80 0.78 0.77 0.80 0.87 0.90 0.92 0.94 0.97 0.98 0.98 0.98 0.980
Earnings Stability 0.75 0.69 0.77 0.84 0.88 0.85 0.89 0.94 0.99 0.94 0.93 0.92 0.91 0.87 0.87 0.89 0.93 0.95 0.95 0.93 0.932
Margin Stability 0.96 0.97 0.97 0.98 0.98 0.97 0.98 0.98 0.97 0.98 0.97 0.98 0.99 0.98 0.98 0.98 0.98 0.98 0.97 0.98 0.976
Rev. 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
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 1.00 1.00 1.00 0.00 0.000
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 0.92 0.93 0.91 0.92 0.94 0.93 0.96 0.93 0.92 0.88 0.84 0.83 0.82 0.84 0.86 0.88 0.92 0.93 0.95 0.99 0.989
Earnings Smoothness 0.82 0.84 0.79 0.82 0.86 0.84 0.91 0.85 0.81 0.75 0.67 0.65 0.63 0.67 0.70 0.73 0.82 0.85 0.87 0.97 0.973
ROE Trend 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.03 0.03 0.04 0.05 0.05 0.04 0.04 0.03 0.02 0.01 -0.03 -0.027
Gross Margin Trend 0.01 0.01 0.02 0.00 -0.00 -0.01 -0.01 -0.01 -0.01 -0.01 -0.00 -0.00 -0.00 0.00 0.01 0.02 0.02 0.02 0.02 0.01 0.014
FCF Margin Trend -0.03 -0.05 -0.02 -0.08 -0.06 -0.04 -0.04 -0.01 -0.01 -0.00 -0.01 0.01 0.02 0.03 0.03 0.04 0.04 0.04 0.03 0.03 0.029
Sustainable Growth Rate 10.0% 10.2% 10.1% 10.1% 10.7% 11.0% 9.8% 10.9% 12.1% 13.6% 13.3% 15.0% 16.9% 17.8% 15.9% 17.2% 17.1% 17.3% 14.9% 12.9% 12.94%
Internal Growth Rate 8.4% 8.5% 8.4% 8.4% 8.9% 9.2% 7.9% 8.8% 9.9% 11.3% 10.7% 12.2% 14.0% 14.8% 13.1% 14.4% 14.3% 14.5% 12.3% 10.5% 10.54%
Cash Flow Quality
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
OCF/Net Income 1.48 1.39 1.44 1.08 1.11 1.17 1.24 1.27 1.22 1.19 1.19 1.11 1.13 1.18 1.24 1.24 1.29 1.30 1.30 1.41 1.414
FCF/OCF 0.88 0.86 0.92 0.91 0.93 0.96 0.93 0.90 0.89 0.89 0.89 0.91 0.92 0.93 0.92 0.92 0.92 0.92 0.92 0.92 0.916
FCF/Net Income snapshot only 1.295
OCF/EBITDA snapshot only 0.926
CapEx/Revenue 2.1% 2.4% 1.3% 1.2% 1.0% 0.6% 1.0% 1.5% 1.6% 1.7% 1.7% 1.4% 1.3% 1.3% 1.6% 1.5% 1.7% 1.6% 1.5% 1.7% 1.73%
CapEx/Depreciation snapshot only 0.589
Accruals Ratio -0.06 -0.05 -0.05 -0.01 -0.01 -0.02 -0.03 -0.03 -0.03 -0.03 -0.03 -0.02 -0.02 -0.03 -0.04 -0.04 -0.05 -0.06 -0.05 -0.06 -0.060
Sloan Accruals snapshot only -0.103
Cash Flow Adequacy snapshot only 3.040
Earnings Quality Score snapshot only 0.750
Dividends & Buybacks
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Dividend Yield 0.8% 0.7% 0.7% 0.8% 1.0% 0.9% 0.8% 0.7% 0.6% 0.7% 0.6% 0.6% 0.6% 0.5% 0.6% 0.7% 0.6% 0.8% 0.8% 1.0% 1.29%
Dividend/Share $0.71 $0.73 $0.75 $0.78 $0.80 $0.82 $0.85 $0.87 $0.90 $0.94 $0.99 $1.03 $1.07 $1.14 $1.22 $1.28 $1.35 $1.41 $1.47 $1.54 $1.60
Payout Ratio 37.6% 38.0% 36.4% 37.1% 36.5% 36.4% 37.4% 35.8% 34.1% 32.5% 31.4% 29.7% 28.1% 28.4% 28.7% 28.3% 29.5% 30.1% 30.7% 34.6% 34.63%
FCF Payout Ratio 28.9% 32.0% 27.4% 37.9% 35.3% 32.5% 32.5% 31.2% 31.3% 30.6% 29.6% 29.4% 27.1% 25.8% 25.2% 24.7% 25.0% 25.1% 25.7% 26.7% 26.75%
Total Payout Ratio 38.9% 39.1% 37.1% 37.8% 37.1% 37.1% 38.1% 36.4% 34.1% 32.5% 31.4% 29.7% 28.1% 28.4% 28.7% 28.3% 29.5% 30.1% 41.3% 75.4% 75.39%
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 0.08 0.10 0.11 0.13 0.13 0.13 0.13 0.13 0.16 0.17 0.19 0.21 0.22 0.24 0.26 0.27 0.24 0.22 0.20 0.203
Buyback 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% 0.3% 1.2% 1.19%
Net Buyback Yield 0.0% -0.0% -0.0% -0.0% -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% 0.3% 1.2% 1.19%
Total Shareholder Return 0.8% 0.7% 0.7% 0.8% 1.0% 0.9% 0.8% 0.7% 0.6% 0.6% 0.6% 0.6% 0.6% 0.5% 0.6% 0.7% 0.5% 0.8% 1.1% 2.2% 2.20%
DuPont Factors
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Tax Burden (NI/EBT) 0.77 0.78 0.77 0.77 0.77 0.76 0.76 0.76 0.75 0.77 0.76 0.76 0.77 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.750
Interest Burden (EBT/EBIT) 1.00 1.00 1.00 1.00 1.00 1.00 1.01 1.01 1.02 1.03 1.03 1.04 1.04 1.05 1.05 1.05 1.04 1.02 1.01 1.01 1.007
EBIT Margin 0.16 0.15 0.16 0.15 0.16 0.16 0.15 0.16 0.16 0.16 0.17 0.17 0.18 0.19 0.19 0.20 0.20 0.20 0.20 0.19 0.193
Asset Turnover 1.04 1.08 1.01 1.04 1.07 1.11 1.00 1.04 1.11 1.18 1.07 1.12 1.18 1.22 1.08 1.11 1.14 1.18 1.02 1.00 1.002
Equity Multiplier 1.29 1.29 1.31 1.31 1.31 1.31 1.34 1.34 1.34 1.34 1.38 1.38 1.38 1.38 1.37 1.37 1.37 1.37 1.36 1.36 1.357
Per Share
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
EPS (Diluted TTM) $1.90 $1.93 $2.07 $2.09 $2.19 $2.25 $2.26 $2.43 $2.63 $2.90 $3.14 $3.47 $3.82 $4.03 $4.25 $4.54 $4.59 $4.69 $4.79 $4.45 $4.45
Book Value/Share $12.32 $12.31 $13.72 $13.73 $13.74 $13.72 $15.05 $15.04 $15.02 $15.01 $17.52 $17.51 $17.49 $17.48 $20.64 $20.51 $20.50 $20.49 $24.14 $24.29 $23.63
Tangible Book/Share $7.27 $7.26 $7.80 $7.80 $7.80 $7.80 $9.78 $9.77 $9.76 $9.76 $11.74 $11.73 $11.71 $11.71 $15.17 $15.07 $15.07 $15.06 $12.16 $12.23 $12.23
Revenue/Share $15.92 $16.42 $17.20 $17.70 $18.22 $18.86 $19.23 $20.13 $21.40 $22.68 $23.87 $25.12 $26.47 $27.20 $28.14 $28.83 $29.55 $30.46 $31.03 $30.54 $30.69
FCF/Share $2.47 $2.29 $2.75 $2.05 $2.26 $2.53 $2.60 $2.79 $2.86 $3.08 $3.33 $3.50 $3.97 $4.42 $4.84 $5.19 $5.41 $5.62 $5.74 $5.76 $5.79
OCF/Share $2.81 $2.68 $2.98 $2.25 $2.43 $2.64 $2.80 $3.10 $3.20 $3.46 $3.74 $3.85 $4.31 $4.77 $5.28 $5.64 $5.91 $6.12 $6.22 $6.29 $6.32
Cash/Share $2.47 $2.46 $2.97 $2.97 $2.97 $2.97 $4.69 $4.69 $4.69 $4.68 $6.51 $6.50 $6.49 $6.49 $10.06 $9.99 $9.98 $9.98 $7.65 $7.70 $7.03
EBITDA/Share $3.39 $3.41 $3.63 $3.66 $3.77 $3.90 $3.86 $4.07 $4.33 $4.59 $4.95 $5.38 $5.82 $6.16 $6.20 $6.60 $6.77 $7.02 $7.51 $6.79 $6.79
Debt/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
Net Debt/Share $-2.47 $-2.46 $-2.97 $-2.97 $-2.97 $-2.97 $-4.69 $-4.69 $-4.69 $-4.68 $-6.51 $-6.50 $-6.49 $-6.49 $-10.06 $-9.99 $-9.98 $-9.98 $-7.65 $-7.70 $-7.70
Academic Models
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Altman Z-Score 12.260
Altman Z-Prime snapshot only 21.643
Piotroski F-Score 6 6 6 5 5 5 5 6 5 6 7 6 6 7 8 7 7 7 6 4 4
Beneish M-Score -2.62 -2.63 -2.60 -2.34 -2.40 -2.44 -2.46 -2.52 -2.46 -2.47 -2.46 -2.40 -2.43 -2.52 -2.65 -2.70 -2.71 -2.72 -1.95 -1.91 -1.907
Ohlson O-Score snapshot only -10.241
ROIC (Greenblatt) snapshot only 39.69%
Net-Net WC snapshot only $8.40
EVA snapshot only $78065637.45
Credit
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Credit Rating snapshot only AA
Credit Score 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.00 89.000
Credit Grade snapshot only 3
Credit Trend snapshot only 0.000
Implied Spread (bps) snapshot only 80.000
Industry Credit Rank snapshot only 79
Sector Credit Rank snapshot only 81

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms