— Know what they know.
Not Investment Advice
Also trades as: BTE.TO (TSX) · $vol 21M · BTEGF (OTC) · $vol 1M

BTE NYSE

Baytex Energy Corp.
1W: +2.0% 1M: -8.5% 3M: +20.0% YTD: +40.0% 1Y: +99.1% 3Y: +13.0% 5Y: +94.1%
$4.63
+0.07 (+1.54%)
 
Weekly Expected Move ±4.3%
$4 $4 $5 $5 $5
NYSE · Energy · Oil & Gas Exploration & Production · Tech Score Sell · Power 38 · $3.5B mcap · 696M float · 2.52% daily turnover · Short 37% of daily vol

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets
Analyst Recommendations
Strong Buy: 0Buy: 10Hold: 3Sell: 3Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$—
Analysts0

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.

C
Oct 02, 2026
DCF
4
ROE
1
ROA
1
D/E
1
P/E
1
P/B
3
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. BTE receives an overall rating of C. Strongest factors: DCF (4/5). Areas of concern: ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5).
Rating Change History
DateFromTo
2026-10-01 C+ C
2026-03-09 B C+
2026-03-09 B+ B
2026-03-06 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.

★ ★ ★ ★ ★ — Grade C
Profitability
52
Balance Sheet
82
Earnings Quality
18
Growth
12
Value
—
Momentum
20
Safety
—
Cash Flow
57

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score
—
—
Piotroski F-Score
6/9
✗ ✓ ✗ ✓ ✓ ✓ ✓ ✓ ✗
Beneish M-Score
-6.37
Unlikely Manipulator
Ohlson O-Score
-9.38
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
BBB
Score: 57.9/100
Trend: Improving
Earnings Quality
—
OCF/NI: -1.47x
Accruals: -33.0%
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. BTE 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. BTE's score of -6.37 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. BTE'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. BTE receives an estimated rating of BBB (score: 57.9/100), with a improving trend.

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
-7.18x
PEG
0.03x
P/S
13.54x
P/B
2.21x
P/FCF
—
P/OCF
—
EV/EBITDA
—
EV/Revenue
—
EV/EBIT
—
EV/FCF
—
Earnings Yield
—
FCF Yield
—
Shareholder Yield
—
Graham Number
—
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. BTE currently has negative earnings — the P/E ratio is not meaningful.

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
2.408
NI / EBT
×
Interest Burden
-17.602
EBT / EBIT
×
EBIT Margin
0.046
EBIT / Rev
×
Asset Turnover
0.068
Rev / Assets
×
Equity Multiplier
1.719
Assets / Equity
=
ROE
-23.0%
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. BTE's ROE of -23.0% is driven by Asset Turnover (0.068), indicating efficient use of assets to generate revenue. A tax burden ratio of 2.41 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

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
0.00%
Fair P/E
8.50x
Intrinsic Value
—
Price/Value
—
Margin of Safety
—
Premium
—

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
$4.62
Median 1Y
$4.40
5th Pctile
$1.39
95th Pctile
$13.94
Ann. Volatility
66.9%
25th–75th percentile 5th–95th percentile Median path Historical

Workforce & Productivity

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

Employees
—
Revenue / Employee
—
Rev: $1,479,608,233
Profit / Employee
—
NI: $-603,286,958
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 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 1.2% 1.2% 1.2% 41.6% 48.7% 32.6% 31.9% 25.1% 20.0% -6.8% -8.6% -9.5% -8.1% 5.9% 7.9% 9.1% 5.3% -18.4% -23.4% -23.0% -22.99%
ROA 33.4% 39.2% 41.7% 18.0% 22.7% 17.2% 17.0% 13.1% 10.7% -3.7% -4.6% -5.0% -4.2% 3.1% 4.1% 4.8% 2.8% -10.9% -13.4% -13.4% -13.37%
ROIC 9.6% 13.8% 18.6% 24.6% 25.1% 22.9% 17.1% 8.5% 9.3% 13.1% 13.4% 15.2% 18.9% 11.2% 13.0% 12.5% 6.4% 11.5% 4.4% 9.3% 9.34%
ROCE 38.0% 39.7% 42.1% 21.4% 25.0% 20.2% 21.4% 10.9% 9.7% -5.2% -5.5% -3.7% -3.3% 8.1% 9.2% 10.0% 8.1% 9.0% 1.2% 0.6% 0.60%
Gross Margin 32.6% 33.9% 38.4% 42.6% 36.1% 30.5% 19.3% 21.3% 30.2% 54.0% 20.4% 29.7% 69.9% 24.8% 25.1% 36.6% 22.2% 34.8% 22.8% 40.7% 40.73%
Operating Margin 27.8% 29.7% 35.2% 39.3% 31.5% 22.6% 14.6% 14.8% 26.3% 52.2% 16.3% 26.7% 67.5% 19.0% 18.8% 11.4% 18.0% 14.8% 11.6% 36.9% 36.94%
Net Margin 6.7% 1.0% 8.4% 21.2% 37.2% 54.4% 9.3% 35.7% 11.0% -58.7% -1.8% 11.6% 21.8% -3.8% 7.0% 17.1% 4.3% 64.2% -16.8% 31.8% 31.82%
EBITDA Margin 39.5% 53.6% 56.1% 55.9% 51.8% 47.3% 45.5% 40.2% 47.5% -33.3% 51.7% 60.5% 73.1% 39.6% 45.7% 61.0% 62.9% 51.6% 7.2% 61.3% 61.34%
FCF Margin 13.2% 21.2% 18.7% 21.7% 22.0% 22.5% 20.0% 12.4% 6.7% 7.1% 6.2% 9.3% 16.1% 16.8% 18.2% 13.8% 11.5% 19.0% 27.1% 82.6% 82.64%
OCF Margin 33.7% 38.1% 36.6% 38.1% 39.7% 40.6% 41.8% 39.4% 37.9% 38.3% 41.5% 46.4% 53.4% 54.0% 52.0% 48.1% 47.3% 1.1% 1.7% 2.9% 2.88%
ROE 3Y Avg snapshot only -11.54%
ROE 5Y Avg snapshot only 3.81%
ROA 3Y Avg snapshot only -7.67%
ROIC 3Y Avg snapshot only 2.65%
ROIC Economic snapshot only 6.44%
Cash ROA snapshot only 33.20%
Cash ROIC snapshot only 66.50%
CROIC snapshot only 19.11%
NOPAT Margin snapshot only 40.39%
Pretax Margin snapshot only -81.37%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 29.50%
SBC / Revenue snapshot only 1.33%
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 — — — — — — — — — — — — — — — — — — — — -7.178
P/S Ratio — — — — — — — — — — — — — — — — — — — — 13.539
P/B Ratio — — — — — — — — — — — — — — — — — — — — 2.209
P/FCF — — — — — — — — — — — — — — — — — — — — —
P/OCF — — — — — — — — — — — — — — — — — — — — —
EV/EBITDA — — — — — — — — — — — — — — — — — — — — —
EV/Revenue — — — — — — — — — — — — — — — — — — — — —
EV/EBIT — — — — — — — — — — — — — — — — — — — — —
EV/FCF — — — — — — — — — — — — — — — — — — — — —
Earnings Yield — — — — — — — — — — — — — — — — — — — — —
FCF Yield — — — — — — — — — — — — — — — — — — — — —
PEG Ratio snapshot only 0.031
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 0.46 0.54 0.53 0.62 0.81 0.85 0.90 0.64 0.77 0.79 0.67 0.72 0.69 0.78 0.63 0.68 0.58 3.61 2.15 2.82 2.816
Quick Ratio 0.43 0.51 0.51 0.61 0.81 0.85 0.90 0.64 0.77 0.79 0.67 0.72 0.69 0.78 0.63 0.68 0.58 3.61 2.12 2.79 2.790
Debt/Equity 0.93 0.63 0.58 0.47 0.40 0.31 0.31 0.56 0.56 0.64 0.63 0.62 0.57 0.55 0.52 0.52 0.48 0.05 0.07 0.07 0.069
Net Debt/Equity 0.94 0.63 0.58 0.47 0.40 0.31 0.31 0.55 0.56 0.62 0.62 0.61 0.57 0.54 0.52 0.52 0.48 -0.35 -0.29 -0.27 -0.265
Debt/Assets 0.35 0.29 0.27 0.24 0.22 0.18 0.19 0.30 0.30 0.33 0.32 0.32 0.30 0.29 0.28 0.28 0.26 0.04 0.04 0.05 0.047
Debt/EBITDA 2.64 1.71 1.18 0.85 0.72 0.61 0.69 2.19 1.97 3.53 2.94 2.17 1.89 1.16 1.09 1.05 1.08 0.15 0.41 1.01 1.009
Net Debt/EBITDA 2.65 1.72 1.19 0.85 0.72 0.61 0.68 2.18 1.95 3.45 2.90 2.14 1.87 1.15 1.08 1.05 1.07 -1.07 -1.74 -3.85 -3.853
Interest Coverage 15.41 18.44 19.41 9.94 13.92 12.87 15.32 12.81 8.08 -2.50 -2.09 -1.18 -1.00 3.05 3.92 4.57 3.95 1.24 0.17 0.12 0.116
Equity Multiplier 2.70 2.19 2.16 1.99 1.81 1.68 1.68 1.87 1.89 1.95 1.98 1.96 1.91 1.86 1.86 1.85 1.81 1.40 1.53 1.47 1.472
Cash Ratio snapshot only 2.104
Debt Service Coverage snapshot only 1.013
Cash to Debt snapshot only 4.819
FCF to Debt snapshot only 2.023
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 0.41 0.45 0.53 0.56 0.60 0.58 0.55 0.37 0.43 0.54 0.56 0.48 0.43 0.46 0.48 0.49 0.48 0.23 0.13 0.07 0.068
Inventory Turnover 107.83 134.25 161.54 441.46 393.89 466.37 450.61 503.87 — — 5590.42 — — — — — — — 82.51 79.65 79.654
Receivables Turnover 11.27 13.30 9.80 10.45 13.01 15.44 10.77 7.23 7.51 12.54 11.02 9.75 7.84 9.74 15.77 15.30 16.74 4.98 5.63 2.93 2.929
Payables Turnover 5.54 7.30 6.44 6.28 7.44 8.66 7.00 3.95 4.61 6.31 5.34 4.13 3.15 4.58 3.97 4.03 4.67 2.73 1.32 0.86 0.857
DSO 32 27 37 35 28 24 34 51 49 29 33 37 47 37 23 24 22 73 65 125 124.6 days
DIO 3 3 2 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 4 5 4.6 days
DPO 66 50 57 58 49 42 52 92 79 58 68 88 116 80 92 90 78 134 276 426 425.7 days
Cash Conversion Cycle -30 -20 -17 -22 -20 -18 -17 -41 -31 -29 -35 -51 -69 -42 -69 -67 -56 -60 -207 -296 -296.5 days
Fixed Asset Turnover snapshot only 0.169
Operating Cycle snapshot only 129.2 days
Cash Velocity snapshot only 0.508
Capital Intensity snapshot only 8.663
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 30.5% 91.5% 1.1% 95.6% 80.2% 54.6% 28.4% -2.1% 6.2% 17.1% 30.0% 54.9% 20.8% 4.5% 4.4% -3.7% 1.8% -63.2% -81.3% -90.3% -90.25%
Net Income 1.5% 1.7% 70.4% -31.4% -16.2% -47.0% -50.2% 5.9% -30.1% -1.3% -1.4% -1.5% -1.5% 2.0% 2.1% 1.9% 1.6% -3.5% -3.3% -2.9% -2.95%
EPS 1.4% 1.6% 69.2% -31.6% -14.3% -44.6% -48.0% 2.9% -54.6% -1.2% -1.2% -1.3% -1.5% 2.1% 2.1% 2.0% 1.6% -3.7% -3.4% -3.1% -3.07%
FCF 14.8% 4.6% 2.9% 1.8% 2.0% 63.6% 37.2% -43.9% -67.7% -63.1% -59.8% 16.2% 1.9% 1.5% 2.1% 43.1% -27.1% -58.5% -72.2% -41.8% -41.81%
EBITDA 1.3% 1.3% 3.1% 1.8% 1.6% 88.3% 28.0% -13.1% -11.0% -54.8% -40.3% -2.6% -10.7% 1.8% 1.4% 77.6% 54.9% -60.3% -82.6% -92.7% -92.67%
Op. Income 4.6% 4.5% 2977.7% 3.2% 1.7% 80.9% 18.7% -37.9% -35.2% 9.3% 36.8% 1.3% 1.4% 9.8% 10.8% -13.9% -58.8% -80.0% -92.9% -82.3% -82.29%
OCF Growth snapshot only -41.69%
Asset Growth snapshot only -58.03%
Equity Growth snapshot only -47.29%
Debt Growth snapshot only -92.97%
Shares Change snapshot only -5.97%
Dividend Growth snapshot only 2.35%
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 4.1% 9.3% 10.6% 14.1% 17.6% 17.0% 17.9% 22.8% 35.7% 51.4% 52.1% 43.7% 32.3% 23.7% 20.3% 13.5% 9.3% -23.4% -36.7% -47.4% -47.40%
Revenue 5Y 9.8% 19.1% 19.5% 21.6% 22.3% 21.5% 19.9% 16.1% 16.7% 18.8% 17.7% 17.6% 15.8% 14.4% 17.4% 22.5% 25.2% 5.9% -7.2% -22.6% -22.55%
EPS 3Y — — — — — — — — — — — — — -52.7% -48.2% -31.1% -47.4% — — — —
EPS 5Y — — — — — 33.4% 94.0% — — — — — — — — — — — — — —
Net Income 3Y — — — — — — — — — — — — — -47.3% -42.7% -23.9% -41.4% — — — —
Net Income 5Y — — — — — 57.9% 1.3% — — — — — — — — — — — — — —
EBITDA 3Y 10.3% 22.8% 23.7% 20.4% 22.8% 18.0% — — — — 46.1% 32.9% 27.4% 34.2% 22.6% 14.6% 7.2% -20.1% -37.0% -49.8% -49.77%
EBITDA 5Y 23.6% — — — — 29.6% 30.8% 26.9% 25.5% 9.5% 7.7% 8.1% 8.0% 16.1% — — — — 5.5% -21.1% -21.12%
Gross Profit 3Y 35.5% 63.1% 62.9% 72.7% 95.1% 42.8% 49.7% 72.4% 97.9% 4.3% 98.6% 54.3% 46.0% 28.2% 21.9% 13.6% -2.4% -36.4% -49.7% -70.8% -70.78%
Gross Profit 5Y — — — — — 1.4% 91.6% 44.9% 30.7% 52.9% 47.4% 48.3% 61.8% 28.0% 37.6% 60.3% 57.9% 1.0% -5.3% -45.8% -45.78%
Op. Income 3Y 40.6% 1.4% 1.1% 1.2% 2.0% 80.9% 1.2% — — — — 80.8% 62.4% 29.5% 21.6% 6.6% -13.7% -37.9% -52.4% -29.8% -29.81%
Op. Income 5Y — — — — — — — 76.1% 37.7% 93.1% 72.8% 73.1% 1.1% 48.0% 75.8% — — — — -2.0% -2.05%
FCF 3Y 1.8% — — 58.5% 50.0% 32.6% 25.6% 26.0% 3.7% 50.4% 29.5% 22.4% 41.1% 14.4% 19.2% -2.3% -12.0% -27.6% -29.9% -1.1% -1.10%
FCF 5Y — 77.9% — — — — 1.9% 92.4% 85.8% — — 21.0% 25.9% 16.4% 19.6% 27.2% 18.7% 28.4% 13.2% 8.8% 8.83%
OCF 3Y 8.2% 13.6% 12.5% 10.4% 13.0% 12.0% 10.4% 15.8% 27.9% 54.2% 72.4% 60.5% 54.1% 38.9% 35.3% 22.6% 15.9% 8.2% 0.5% 2.0% 2.02%
OCF 5Y 19.6% 23.6% 24.5% 28.5% 32.9% 29.2% 28.4% 24.1% 22.2% 21.7% 21.9% 19.9% 20.0% 18.0% 17.9% 23.1% 26.3% 33.3% 32.2% 19.2% 19.18%
Assets 3Y -11.8% -8.8% -8.7% -8.2% -7.6% -4.8% 14.6% 38.2% 41.5% 29.8% 32.2% 20.5% 19.6% 17.1% 17.4% 16.2% 15.6% -13.2% -14.4% -28.3% -28.35%
Assets 5Y -2.3% 1.0% 0.6% 1.0% 2.5% 3.1% 3.2% 14.0% 6.6% 3.2% 3.9% 4.5% 4.1% 5.6% 17.9% 18.2% 19.2% -0.4% -0.5% -6.5% -6.51%
Equity 3Y -19.4% -10.2% -9.5% -7.6% -4.3% 0.9% 70.2% 1.2% 1.3% 87.7% 93.6% 35.5% 34.0% 23.6% 23.3% 19.1% 15.4% -7.6% -11.6% -22.4% -22.36%
Book Value 3Y -29.7% -11.3% -10.2% -8.2% -4.2% 1.4% 71.4% 1.2% 1.0% 64.5% 70.6% 20.1% 19.8% 10.8% 11.4% 7.7% 3.6% -17.4% -20.3% -27.6% -27.62%
Dividend 3Y — — — — — — — — — — 2.0% 2.3% 36.2% 10.0% -2.3% -11.3% -11.6% -11.7% -10.8% -8.0% -7.96%
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 0.36 0.38 0.41 0.53 0.56 0.53 0.61 0.71 0.70 0.71 0.68 0.67 0.80 0.86 0.94 0.90 0.93 0.09 0.02 0.00 0.001
Earnings Stability 0.00 0.02 0.12 0.08 0.09 0.08 0.23 0.18 0.17 0.08 0.19 0.11 0.11 0.08 0.22 0.15 0.12 0.02 0.31 0.73 0.731
Margin Stability 0.00 0.00 0.00 0.00 0.00 0.08 0.35 0.44 0.49 0.28 0.55 0.63 0.54 0.79 0.73 0.60 0.53 0.40 0.62 0.51 0.511
Rev. Growth Consistency 0.50 0.50 0.50 0.50 1.00 1.00 1.00 0.00 1.00 1.00 1.00 0.50 1.00 1.00 1.00 0.00 1.00 0.00 0.00 0.00 0.000
Earn. Growth Consistency 0.50 0.50 1.00 0.00 0.00 0.00 0.00 0.50 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.00 0.00 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 0.20 0.20 0.50 0.50 0.50 0.50 0.50 0.98 0.88 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.20 0.200
Earnings Smoothness — — 0.00 0.63 0.82 0.39 0.33 0.94 0.65 — — — — — — — — — — — —
ROE Trend 4.40 2.84 2.76 3.11 3.62 2.03 -0.13 -0.36 -0.42 -0.57 -0.59 -0.37 -0.36 -0.05 -0.02 0.05 0.02 -0.25 -0.35 -0.33 -0.326
Gross Margin Trend 0.25 0.22 0.19 0.19 0.17 0.21 0.08 -0.05 -0.09 -0.00 -0.01 0.02 0.12 0.00 0.03 0.07 -0.08 -0.14 -0.18 -0.32 -0.316
FCF Margin Trend 0.00 0.10 0.05 0.08 0.08 0.08 0.06 -0.06 -0.11 -0.15 -0.13 -0.08 0.02 0.02 0.05 0.03 0.00 0.07 0.15 0.71 0.711
Sustainable Growth Rate 1.2% 1.2% 1.2% 41.6% 48.7% 32.6% 31.9% 25.1% 19.4% — — — — 4.1% 6.2% 7.4% 3.6% — — — —
Internal Growth Rate 50.2% 64.3% 71.6% 22.0% 29.4% 20.8% 20.4% 15.1% 11.7% — — — — 2.2% 3.3% 4.0% 1.9% — — — —
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 0.41 0.44 0.46 1.17 1.04 1.37 1.36 1.12 1.51 -5.55 -5.00 -4.43 -5.46 8.07 6.11 4.91 8.05 -2.46 -1.59 -1.47 -1.468
FCF/OCF 0.39 0.56 0.51 0.57 0.55 0.55 0.48 0.32 0.18 0.18 0.15 0.20 0.30 0.31 0.35 0.29 0.24 0.17 0.16 0.29 0.287
FCF/Net Income snapshot only -0.422
OCF/EBITDA snapshot only 7.102
CapEx/Revenue 20.5% 16.9% 17.9% 16.4% 17.7% 18.1% 21.8% 27.0% 31.2% 31.2% 35.3% 37.1% 37.3% 37.2% 33.8% 34.2% 35.8% 95.3% 1.4% 2.0% 2.05%
CapEx/Depreciation snapshot only 5.714
Accruals Ratio 0.20 0.22 0.22 -0.03 -0.01 -0.06 -0.06 -0.02 -0.05 -0.24 -0.28 -0.27 -0.27 -0.22 -0.21 -0.19 -0.20 -0.38 -0.35 -0.33 -0.330
Sloan Accruals snapshot only 0.128
Cash Flow Adequacy snapshot only 1.288
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 — — — — — — — — — — — — — — — — — — — — 1.41%
Dividend/Share $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.02 $0.05 $0.07 $0.09 $0.09 $0.09 $0.09 $0.09 $0.09 $0.09 $0.09 $0.09 $0.09
Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.2% 0.2% 2.8% — — — — 30.4% 22.1% 19.0% 32.4% — — — —
FCF Payout Ratio 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.3% 0.5% 10.3% 16.3% 25.1% 20.4% 12.6% 12.1% 10.3% 13.5% 16.6% 28.1% 35.9% 22.3% 22.25%
Total Payout Ratio 0.0% 0.0% 0.0% 7.5% 13.3% 18.6% 19.4% 11.6% 17.8% — — — — 1.2% 94.6% 61.3% 65.4% — — — —
Div. Increase Streak — — — — — — 0 0 0 0 1 1 1 1 1 0 0 0 0 0 0
Chowder Number — — — — — — — — — — — — — — — — — — — — —
Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Net Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Total Shareholder Return — — — — — — — — — — — — — — — — — — — — —
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) 0.88 0.95 0.99 1.01 1.00 0.96 0.88 1.13 1.10 0.45 0.51 0.84 0.79 0.63 0.70 0.73 0.64 3.94 2.13 2.41 2.408
Interest Burden (EBT/EBIT) 0.94 0.95 0.95 0.91 0.93 0.92 0.93 0.90 0.85 1.45 1.50 1.83 1.92 0.64 0.70 0.72 0.59 -0.57 -10.63 -17.60 -17.602
EBIT Margin 0.99 0.96 0.84 0.36 0.41 0.34 0.38 0.35 0.27 -0.11 -0.11 -0.07 -0.06 0.16 0.18 0.18 0.15 0.21 0.05 0.05 0.046
Asset Turnover 0.41 0.45 0.53 0.56 0.60 0.58 0.55 0.37 0.43 0.54 0.56 0.48 0.43 0.46 0.48 0.49 0.48 0.23 0.13 0.07 0.068
Equity Multiplier 3.74 2.95 2.94 2.31 2.14 1.90 1.88 1.91 1.86 1.83 1.85 1.91 1.90 1.90 1.92 1.91 1.86 1.69 1.75 1.72 1.719
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) $2.22 $2.80 $2.98 $1.46 $1.91 $1.55 $1.55 $1.50 $0.87 $-0.28 $-0.36 $-0.50 $-0.44 $0.30 $0.41 $0.48 $0.28 $-0.78 $-0.99 $-0.99 $-0.99
Book Value/Share $2.89 $3.84 $3.92 $4.23 $4.87 $5.50 $5.63 $7.82 $5.50 $4.58 $4.75 $4.84 $4.97 $5.21 $5.43 $5.29 $5.42 $3.10 $2.85 $2.97 $2.99
Tangible Book/Share $2.89 $3.84 $3.92 $4.23 $4.87 $5.50 $5.63 $7.82 $5.50 $4.58 $4.75 $4.84 $4.97 $5.21 $5.43 $5.29 $5.42 $3.10 $2.85 $2.97 $2.97
Revenue/Share $2.71 $3.24 $3.77 $4.49 $4.99 $5.24 $5.06 $4.28 $3.45 $4.05 $4.38 $4.76 $4.48 $4.42 $4.86 $4.86 $4.72 $1.69 $0.94 $0.50 $0.51
FCF/Share $0.36 $0.69 $0.71 $0.97 $1.10 $1.18 $1.01 $0.53 $0.23 $0.29 $0.27 $0.44 $0.72 $0.74 $0.88 $0.67 $0.54 $0.32 $0.26 $0.42 $0.37
OCF/Share $0.91 $1.24 $1.38 $1.71 $1.99 $2.13 $2.11 $1.69 $1.31 $1.55 $1.82 $2.21 $2.39 $2.38 $2.53 $2.34 $2.23 $1.93 $1.57 $1.45 $1.46
Cash/Share $-0.02 $-0.01 $-0.01 $-0.01 $0.01 $0.01 $0.01 $0.03 $0.03 $0.07 $0.04 $0.04 $0.03 $0.02 $0.01 $0.01 $0.01 $1.24 $1.01 $0.99 $1.00
EBITDA/Share $1.02 $1.41 $1.92 $2.35 $2.72 $2.78 $2.56 $1.99 $1.57 $0.83 $1.02 $1.39 $1.51 $2.46 $2.61 $2.62 $2.42 $1.01 $0.47 $0.20 $0.20
Debt/Share $2.70 $2.41 $2.27 $1.99 $1.96 $1.70 $1.76 $4.36 $3.10 $2.92 $3.00 $3.02 $2.85 $2.85 $2.84 $2.75 $2.60 $0.15 $0.20 $0.21 $0.21
Net Debt/Share $2.71 $2.42 $2.28 $2.00 $1.95 $1.69 $1.75 $4.33 $3.07 $2.86 $2.97 $2.97 $2.83 $2.83 $2.83 $2.74 $2.59 $-1.08 $-0.82 $-0.79 $-0.79
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 — — — — — — — — — — — — — — — — — — — — —
Piotroski F-Score 6 5 7 7 8 7 7 4 3 3 4 5 5 7 8 7 7 5 5 6 6
Beneish M-Score -1.58 -0.82 -1.25 -1.78 -2.13 -2.73 13.88 -1.94 -1.27 -1.93 -1.31 -3.37 -4.37 -2.82 -3.67 -3.79 -2.62 — -6.50 -6.37 -6.368
Ohlson O-Score snapshot only -9.381
ROIC (Greenblatt) snapshot only 0.61%
Net-Net WC snapshot only $-0.07
EVA snapshot only $-10444428.13
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 BBB
Credit Score 61.40 64.81 74.77 72.56 76.97 77.43 78.59 59.31 58.44 32.25 35.63 36.35 40.59 56.77 66.40 56.46 57.60 62.21 59.41 57.95 57.946
Credit Grade snapshot only 9
Credit Trend snapshot only 1.485
Implied Spread (bps) snapshot only 275.000
Industry Credit Rank snapshot only 56
Sector Credit Rank snapshot only 54

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