Also trades as: BTO.TO (TSX) · $vol 21M · 0QYN.L (LSE) · $vol 0M

$4.98

+0.16 (+3.32%)

After Hours: $4.92 (-0.06, -1.20%)

Weekly Expected Move ±6.2%

$4 $4 $5 $5 $5

AMEX · Basic Materials · Gold · Tech Score Sell · Power 38 · $6.4B mcap · 1.31B float · 1.81% daily turnover · Short 41% of daily vol

Credit Risk of going bust: lower than 55% of companies Debt: 6.7% of company value Bonds: $54.0M held by 33 funds → details ▾

If the stock fell to about $0.04 (down 99.1%), B2Gold Corp. would be worth roughly what it owes.
Total debt $455.5M against a stock market value of $6.37B.
Distance to default 5.60 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $222.1M (short-term plus half of long-term), stock volatility 60.2%; Altman Z'' 4.61. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Overview Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

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.

NO EDGE

39.5 / 100

NoneWeakNarrowWide

Primary source: Network Effects · ROIC: 20.5% · 5Y Avg: 5.1%

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. BTG has No discernible competitive edge (39.5/100). The business operates without significant structural advantages. The primary source of advantage is Network Effects. ROIC of 20.5% 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

Low

Avg Target

High

Based on 1 analyst since Aug 6, 2026 earnings

Analyst Recommendations

Strong Buy: 1Buy: 5Hold: 2Sell: 1Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$7.50

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-10	CIBC	—	$6	$8	+2	+48.2%	$5.06
2026-07-09	RBC Capital	—	Initiated	$5	—	+29.9%	$3.85
2026-07-06	Jefferies	—	$4	$6	+2	+47.1%	$4.08
2026-01-14	Raymond James	—	$6	$6	+0	+39.5%	$4.66
2025-11-21	CIBC	—	$6	$6	-0	+56.6%	$3.83
2025-10-10	CIBC	—	$4	$6	+3	+28.0%	$5.08
2025-10-10	Raymond James	—	$4	$6	+2	+18.3%	$5.07
2025-04-04	Raymond James	—	Initiated	$4	—	+69.8%	$2.65
2025-01-07	Jefferies	Matthew Murphy	$5	$4	-0	+75.1%	$2.57
2024-10-04	Jefferies	Matthew Murphy	Initiated	$5	—	+60.8%	$3.11
2024-09-24	CIBC	Anita Soni	Initiated	$4	—	+10.0%	$3.27

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+

Oct 27, 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. BTG receives an overall rating of A+. Strongest factors: DCF (5/5), ROE (5/5), ROA (5/5), P/B (4/5). Areas of concern: D/E (2/5).

Rating Change History

Date	From	To
2026-10-12	A	A+
2026-10-01	A+	A
2026-08-10	A	A+
2026-06-01	A+	A
2026-05-26	A	A+
2026-04-30	A-	A
2026-04-01	A	A-
2026-03-24	A-	A
2026-02-20	B+	A-
2026-02-19	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.

★ ★ ★ ★ ★ 75 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. BTG scores highest in Momentum (96/100) and lowest in Cash Flow (40/100). An overall grade of A+ places BTG 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

3.51

Safe Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓

Beneish M-Score

-1.88

Unlikely Manipulator

Ohlson O-Score

-10.48

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

Score: 87.2/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 1.13x

Accruals: -1.9%

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. BTG scores 3.51, 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. BTG 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. BTG's score of -1.88 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. BTG'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. BTG receives an estimated rating of AA (score: 87.2/100), 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). BTG'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

8.54x

PEG

0.01x

P/S

1.76x

P/B

1.68x

P/FCF

32.87x

P/OCF

6.21x

EV/EBITDA

3.03x

EV/Revenue

1.53x

EV/EBIT

4.19x

EV/FCF

33.85x

Earnings Yield

14.24%

FCF Yield

3.04%

Shareholder Yield

5.05%

Graham Number

$5.65

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 8.5x earnings, BTG trades at a deep value multiple. An earnings yield of 14.2% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $5.65 per share, suggesting a potential 17% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.478

NI / EBT

Interest Burden

1.214

EBT / EBIT

EBIT Margin

0.366

EBIT / Rev

Asset Turnover

0.677

Rev / Assets

Equity Multiplier

1.527

Assets / Equity

ROE

21.9%

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. BTG's ROE of 21.9% is driven by Asset Turnover (0.677), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.48 suggests the company retains less than 60% of pre-tax earnings after taxes.

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

$20.51

Price/Value

0.18x

Margin of Safety

81.76%

Premium

-81.76%

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 BTG's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. BTG actually compounded EPS at 30.6% 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. At an intrinsic value of $20.51, BTG appears undervalued with a 82% margin of safety. The adjusted fair P/E of 38.5x compares to the current market P/E of 8.5x.

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

$4.98

Median 1Y

$4.79

5th Pctile

$2.18

95th Pctile

$10.53

Ann. Volatility

49.1%

Analyst Target

$7.50

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

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: $3,114,826,604

Profit / Employee

—

NI: $408,943,614

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	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	17.4%	15.5%	14.8%	13.6%	8.3%	8.6%	8.7%	8.7%	8.3%	0.3%	-1.1%	-3.6%	-21.0%	-18.6%	-17.6%	-12.3%	6.9%	12.2%	15.9%	21.9%	21.93%
ROA	13.7%	12.1%	11.7%	11.0%	6.7%	7.0%	7.0%	7.1%	6.8%	0.2%	-0.8%	-2.8%	-15.2%	-13.0%	-11.8%	-8.3%	4.2%	7.5%	9.8%	14.4%	14.37%
ROIC	20.6%	20.1%	18.6%	16.7%	10.6%	11.3%	12.2%	9.8%	8.9%	1.2%	-0.4%	-5.3%	-10.9%	-6.4%	-4.8%	2.4%	9.3%	16.2%	20.3%	20.5%	20.52%
ROCE	23.1%	21.9%	21.3%	21.0%	15.9%	15.5%	16.3%	13.7%	13.7%	7.2%	5.8%	3.2%	-10.5%	-6.5%	-6.4%	-0.4%	16.1%	21.0%	28.4%	27.1%	27.13%
Gross Margin	46.0%	47.1%	38.2%	30.9%	21.9%	44.0%	45.1%	40.4%	35.7%	40.1%	39.9%	43.3%	49.7%	34.8%	44.7%	50.8%	49.9%	52.3%	52.6%	39.1%	39.06%
Operating Margin	42.8%	45.1%	32.3%	25.6%	13.9%	39.2%	37.1%	33.8%	5.8%	-6.9%	33.5%	6.3%	-1.3%	25.7%	39.2%	47.6%	45.6%	50.4%	50.1%	35.5%	35.54%
Net Margin	24.1%	26.0%	22.1%	9.9%	-6.0%	26.6%	18.2%	17.1%	-9.0%	-22.1%	8.6%	-4.9%	-1.4%	-2.4%	10.8%	22.3%	2.5%	16.2%	17.3%	52.9%	52.87%
EBITDA Margin	65.7%	67.4%	60.8%	48.3%	36.6%	62.2%	58.5%	54.6%	28.9%	11.2%	49.2%	25.7%	-1.1%	42.6%	42.8%	56.9%	39.2%	49.9%	58.8%	50.9%	50.87%
FCF Margin	22.0%	23.9%	21.1%	24.0%	25.8%	25.0%	26.4%	26.3%	8.2%	-2.1%	17.9%	9.8%	3.0%	-0.6%	-25.0%	-15.4%	-7.4%	1.9%	11.6%	4.5%	4.53%
OCF Margin	38.1%	41.1%	38.8%	45.9%	35.2%	34.1%	37.3%	39.3%	38.6%	37.1%	63.7%	56.3%	50.7%	46.3%	17.5%	24.6%	28.5%	28.8%	33.5%	24.0%	24.00%
ROE 3Y Avg	snapshot only																				1.00%
ROE 5Y Avg	snapshot only																				4.69%
ROA 3Y Avg	snapshot only																				0.98%
ROIC 3Y Avg	snapshot only																				4.12%
ROIC Economic	snapshot only																				19.51%
Cash ROA	snapshot only																				15.63%
Cash ROIC	snapshot only																				21.72%
CROIC	snapshot only																				4.10%
NOPAT Margin	snapshot only																				22.68%
Pretax Margin	snapshot only																				44.43%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				2.65%
SBC / Revenue	snapshot only																				0.00%

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	6.65	8.31	10.05	8.18	12.75	13.26	14.62	13.38	12.09	374.89	-88.32	-23.90	-5.32	-4.99	-6.75	-12.19	33.34	18.15	12.56	7.02	8.538
P/S Ratio	1.75	1.98	2.33	1.74	1.78	1.93	2.05	2.09	1.69	1.96	1.66	1.73	2.03	1.65	2.09	2.43	2.93	2.39	1.86	1.49	1.757
P/B Ratio	1.09	1.22	1.42	1.06	1.03	1.11	1.24	1.00	0.86	1.00	0.83	0.89	1.28	1.05	1.32	1.62	2.20	2.03	1.85	1.40	1.676
P/FCF	7.96	8.27	11.06	7.23	6.87	7.73	7.75	7.93	20.68	-94.24	9.26	17.70	67.27	-257.94	-8.36	-15.77	-39.37	122.67	16.04	32.87	32.870
P/OCF	4.59	4.82	6.00	3.78	5.05	5.68	5.49	5.31	4.37	5.28	2.61	3.07	4.01	3.56	11.96	9.90	10.28	8.29	5.54	6.21	6.206
EV/EBITDA	2.36	2.61	3.19	2.35	2.73	3.00	3.23	3.42	3.02	5.03	3.93	5.34	-58.36	35.92	46.37	15.11	6.65	5.19	3.61	3.03	3.030
EV/Revenue	1.48	1.64	2.00	1.44	1.49	1.59	1.71	1.85	1.56	1.90	1.39	1.51	2.00	1.70	2.13	2.49	3.03	2.47	1.87	1.53	1.534
EV/EBIT	3.44	3.97	4.92	3.66	4.68	5.16	5.52	5.68	5.09	11.19	9.35	18.97	-8.57	-11.66	-15.26	-341.74	10.10	7.44	4.93	4.19	4.191
EV/FCF	6.74	6.86	9.51	6.02	5.75	6.36	6.47	7.05	19.11	-91.40	7.75	15.46	66.29	-265.28	-8.51	-16.14	-40.78	126.79	16.13	33.85	33.849
Earnings Yield	15.0%	12.0%	10.0%	12.2%	7.8%	7.5%	6.8%	7.5%	8.3%	0.3%	-1.1%	-4.2%	-18.8%	-20.1%	-14.8%	-8.2%	3.0%	5.5%	8.0%	14.2%	14.24%
FCF Yield	12.6%	12.1%	9.0%	13.8%	14.5%	12.9%	12.9%	12.6%	4.8%	-1.1%	10.8%	5.6%	1.5%	-0.4%	-12.0%	-6.3%	-2.5%	0.8%	6.2%	3.0%	3.04%
PEG Ratio	snapshot only																				0.012
Price/Tangible Book	snapshot only																				1.405
EV/OCF	snapshot only																				6.391
EV/Gross Profit	snapshot only																				3.120
Acquirers Multiple	snapshot only																				3.317
Shareholder Yield	snapshot only																				5.05%
Graham Number	snapshot only																				$5.65

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	4.89	4.52	5.17	4.64	5.21	4.43	4.00	2.79	2.18	2.27	2.99	2.93	1.83	1.55	1.22	0.98	1.03	1.06	1.19	1.58	1.581
Quick Ratio	3.54	3.35	3.81	3.25	3.51	3.01	2.69	1.72	1.12	1.16	1.97	1.74	1.08	0.73	0.54	0.40	0.46	0.47	0.59	0.58	0.581
Debt/Equity	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.05	0.01	0.01	0.12	0.15	0.14	0.13	0.19	0.18	0.14	0.11	0.115
Net Debt/Equity	-0.17	-0.21	-0.20	-0.18	-0.17	-0.20	-0.20	-0.11	-0.07	-0.03	-0.14	-0.11	-0.02	0.03	0.02	0.04	0.08	0.07	0.01	0.04	0.042
Debt/Assets	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.04	0.01	0.01	0.08	0.09	0.08	0.08	0.11	0.11	0.09	0.08	0.079
Debt/EBITDA	0.08	0.07	0.07	0.06	0.07	0.06	0.05	0.05	0.05	0.26	0.07	0.07	-5.68	4.87	4.69	1.21	0.56	0.43	0.28	0.24	0.241
Net Debt/EBITDA	-0.43	-0.54	-0.52	-0.47	-0.53	-0.65	-0.64	-0.43	-0.25	-0.16	-0.77	-0.78	0.87	0.99	0.85	0.35	0.23	0.17	0.02	0.09	0.088
Interest Coverage	62.09	61.79	62.62	63.28	49.37	49.31	50.98	55.14	51.92	23.57	13.87	6.15	-15.50	-8.02	-8.98	-0.56	29.04	26.89	27.70	22.74	22.737
Equity Multiplier	1.24	1.25	1.23	1.22	1.22	1.22	1.24	1.23	1.23	1.28	1.38	1.38	1.58	1.61	1.63	1.62	1.71	1.64	1.62	1.45	1.447
Cash Ratio	snapshot only																				0.416
Debt Service Coverage	snapshot only																				31.447
Cash to Debt	snapshot only																				0.636
FCF to Debt	snapshot only																				0.372
Defensive Interval	snapshot only																				1247.0 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	0.52	0.51	0.51	0.52	0.48	0.48	0.50	0.45	0.48	0.45	0.42	0.38	0.40	0.39	0.38	0.41	0.48	0.57	0.66	0.68	0.677
Inventory Turnover	3.67	3.90	3.80	3.66	3.83	3.74	3.70	3.69	3.72	3.41	3.40	3.27	3.03	2.70	2.57	2.53	2.77	2.77	2.95	3.02	3.024
Receivables Turnover	293.56	282.21	174.84	188.07	165.49	172.57	155.43	154.37	160.35	166.19	180.49	142.29	165.66	188.04	223.71	177.01	215.59	307.88	238.36	200.75	200.755
Payables Turnover	11.18	9.91	11.03	12.84	10.99	9.97	11.09	9.79	8.30	8.22	8.22	7.06	6.21	6.87	6.48	7.05	8.15	9.23	9.95	10.96	10.956
DSO	1	1	2	2	2	2	2	2	2	2	2	3	2	2	2	2	2	1	2	2	1.8 days
DIO	99	94	96	100	95	98	99	99	98	107	107	112	121	135	142	144	132	132	124	121	120.7 days
DPO	33	37	33	28	33	37	33	37	44	44	44	52	59	53	56	52	45	40	37	33	33.3 days
Cash Conversion Cycle	68	58	65	73	64	63	68	64	56	65	65	62	64	84	87	95	89	94	88	89	89.2 days
Fixed Asset Turnover	snapshot only																				0.992
Operating Cycle	snapshot only																				122.5 days
Cash Velocity	snapshot only																				12.911
Capital Intensity	snapshot only																				1.535

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	5.7%	-1.5%	-0.3%	5.5%	-2.9%	-1.7%	4.2%	8.1%	20.9%	11.6%	4.4%	0.7%	-5.0%	-1.7%	2.6%	11.8%	30.5%	60.5%	85.7%	72.2%	72.17%
Net Income	-29.1%	-33.1%	-36.8%	-36.0%	-48.6%	-39.8%	-36.9%	-20.6%	21.1%	-96.0%	-1.1%	-1.5%	-3.6%	-63.4%	-15.9%	-2.1%	1.3%	1.6%	1.9%	2.8%	2.83%
EPS	-28.9%	-32.9%	-36.8%	-36.2%	-48.8%	-40.6%	-38.0%	-32.5%	-0.6%	-96.7%	-1.1%	-1.4%	-3.6%	-62.8%	-14.1%	-1.7%	1.3%	1.5%	1.9%	2.8%	2.81%
FCF	-31.5%	-32.7%	-39.3%	9.1%	14.2%	2.8%	30.9%	18.4%	-61.8%	-1.1%	-29.2%	-62.6%	-64.8%	69.7%	-2.4%	-2.8%	-4.2%	5.9%	1.9%	1.5%	1.51%
EBITDA	-19.9%	-18.0%	-17.1%	-11.7%	-15.7%	-17.1%	-12.2%	-4.7%	14.9%	-20.6%	-30.2%	-47.5%	-1.1%	-87.7%	-86.6%	-34.8%	18.3%	15.1%	19.9%	4.3%	4.29%
Op. Income	-32.6%	-32.1%	-33.3%	-27.0%	-28.7%	-29.7%	-17.9%	-7.5%	17.1%	-34.8%	-45.4%	-71.4%	-1.7%	-1.8%	-1.6%	-41.2%	3.5%	6.7%	10.2%	15.5%	15.54%
OCF Growth	snapshot only																				68.04%
Asset Growth	snapshot only																				8.22%
Equity Growth	snapshot only																				21.32%
Debt Growth	snapshot only																				4.88%
Shares Change	snapshot only																				0.87%
Dividend Growth	snapshot only																				-29.01%

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	15.0%	12.9%	14.3%	15.3%	13.1%	13.2%	13.1%	10.1%	7.5%	2.6%	2.8%	4.7%	3.7%	2.6%	3.8%	6.8%	14.5%	20.8%	25.8%	24.7%	24.69%
Revenue 5Y	21.8%	20.9%	20.8%	21.1%	20.9%	22.1%	17.1%	15.0%	12.3%	9.6%	10.2%	10.8%	10.7%	9.8%	9.2%	8.5%	9.0%	11.3%	15.6%	17.2%	17.19%
EPS 3Y	53.4%	1.4%	—	2.1%	58.0%	-5.9%	-10.0%	-16.2%	-28.7%	-76.4%	—	—	—	—	—	—	-12.1%	1.8%	14.7%	30.6%	30.60%
EPS 5Y	—	60.3%	71.3%	45.9%	47.4%	32.7%	16.4%	16.5%	13.0%	-23.3%	—	—	—	—	—	—	-24.4%	-15.9%	-10.0%	-0.8%	-0.85%
Net Income 3Y	56.5%	1.4%	—	2.2%	59.7%	-4.8%	-9.1%	-11.2%	-23.9%	-74.8%	—	—	—	—	—	—	-1.9%	16.7%	28.0%	38.2%	38.19%
Net Income 5Y	—	60.8%	74.5%	46.2%	47.5%	34.8%	16.8%	20.5%	19.0%	-19.0%	—	—	—	—	—	—	-19.2%	-8.6%	-3.5%	6.1%	6.06%
EBITDA 3Y	26.0%	26.3%	29.2%	29.1%	19.0%	6.4%	4.4%	1.0%	-8.1%	-18.6%	-20.2%	-23.8%	—	-56.7%	-56.6%	-31.2%	7.9%	16.5%	24.9%	21.9%	21.88%
EBITDA 5Y	66.5%	34.6%	34.7%	30.6%	28.1%	30.3%	20.5%	18.2%	14.1%	5.8%	5.7%	1.5%	—	-34.8%	-36.2%	-18.8%	-3.2%	1.4%	7.2%	8.8%	8.78%
Gross Profit 3Y	31.6%	28.2%	31.1%	29.5%	15.4%	10.6%	7.2%	2.8%	0.2%	-6.6%	-6.7%	-1.7%	2.1%	1.1%	4.1%	10.0%	24.8%	36.2%	40.7%	34.8%	34.81%
Gross Profit 5Y	32.7%	29.6%	29.7%	32.2%	31.6%	32.1%	23.8%	21.0%	19.6%	16.4%	17.6%	17.8%	16.5%	12.2%	9.0%	7.4%	6.7%	9.8%	15.4%	17.7%	17.72%
Op. Income 3Y	38.5%	34.7%	35.4%	34.9%	17.5%	-0.4%	-3.0%	-5.9%	-17.5%	-32.3%	-33.1%	-42.2%	—	—	—	-46.2%	26.2%	41.5%	47.2%	40.7%	40.66%
Op. Income 5Y	1.5%	41.4%	40.8%	44.2%	44.3%	42.1%	29.7%	23.9%	17.3%	2.3%	2.2%	-8.3%	—	—	—	-32.5%	-0.7%	6.2%	11.8%	13.4%	13.44%
FCF 3Y	27.6%	23.5%	31.9%	34.0%	30.3%	26.7%	19.0%	8.0%	-33.2%	—	-17.5%	-21.5%	-46.5%	—	—	—	—	-48.4%	-4.5%	-30.6%	-30.61%
FCF 5Y	41.9%	47.3%	—	—	—	—	—	85.4%	-2.0%	—	16.3%	1.3%	-21.5%	—	—	—	—	-37.6%	-7.1%	-15.5%	-15.46%
OCF 3Y	19.1%	19.5%	23.6%	29.6%	13.6%	7.1%	4.0%	-0.0%	-4.5%	-8.8%	11.8%	20.2%	14.0%	6.8%	-20.4%	-13.3%	6.7%	14.2%	21.4%	5.8%	5.79%
OCF 5Y	11.6%	11.9%	19.6%	25.8%	22.6%	30.7%	21.2%	21.2%	15.0%	11.1%	27.5%	23.8%	19.4%	12.9%	-10.8%	-6.8%	-4.5%	-1.5%	7.0%	7.3%	7.33%
Assets 3Y	6.1%	11.8%	11.3%	11.2%	9.8%	11.1%	10.2%	14.9%	14.9%	13.0%	15.9%	16.3%	12.0%	10.6%	12.5%	14.1%	17.6%	16.8%	16.7%	5.3%	5.27%
Assets 5Y	8.8%	8.8%	8.3%	7.6%	6.3%	6.5%	7.0%	13.3%	11.1%	13.7%	15.4%	14.8%	12.6%	12.4%	12.6%	10.3%	12.3%	11.8%	12.0%	11.7%	11.74%
Equity 3Y	18.4%	21.0%	20.5%	19.4%	16.6%	14.7%	13.8%	22.3%	17.4%	13.8%	13.4%	12.1%	3.4%	1.4%	2.5%	3.9%	5.1%	6.1%	6.5%	-0.4%	-0.40%
Book Value 3Y	16.0%	18.3%	18.7%	17.5%	15.3%	13.5%	12.6%	15.5%	9.9%	6.5%	5.8%	4.7%	-3.7%	-5.6%	-8.0%	-6.8%	-5.9%	-7.4%	-4.5%	-5.9%	-5.87%
Dividend 3Y	23.3%	10.7%	2.9%	-5.3%	-1.2%	-1.1%	-0.9%	-3.8%	-3.5%	-2.9%	-2.8%	-5.7%	-6.4%	-7.5%	-14.7%	-17.3%	-21.8%	-28.1%	-23.0%	-15.4%	-15.44%

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	0.95	0.91	0.95	0.98	0.88	0.84	0.90	0.97	0.89	0.77	0.83	0.91	0.85	0.83	0.89	0.96	0.74	0.50	0.50	0.61	0.606
Earnings Stability	0.72	0.71	0.65	0.62	0.32	0.35	0.27	0.30	0.08	0.01	0.02	0.07	0.34	0.66	0.71	0.81	0.40	0.29	0.20	0.05	0.047
Margin Stability	0.74	0.75	0.74	0.74	0.71	0.71	0.78	0.82	0.80	0.78	0.78	0.83	0.87	0.91	0.93	0.91	0.87	0.83	0.84	0.89	0.894
Rev. Growth Consistency	1.00	0.00	0.00	1.00	0.00	0.00	0.50	1.00	0.50	0.50	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.50	1.00	1.00	1.000
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	1	1	1	1	1	1	1	1	1	0	1	1	1	0	0	0	0	0	0	0	0
Earnings Persistence	0.88	0.87	0.85	0.86	0.81	0.84	0.85	0.92	0.92	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.20	0.20	0.20	0.20	0.200
Earnings Smoothness	0.66	0.60	0.55	0.56	0.36	0.50	0.55	0.77	0.81	0.00	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	0.02	-0.05	-0.07	-0.08	-0.13	-0.11	-0.11	-0.10	-0.05	-0.11	-0.12	-0.14	-0.32	-0.25	-0.23	-0.15	0.15	0.22	0.25	0.29	0.285
Gross Margin Trend	0.03	-0.02	-0.05	-0.06	-0.13	-0.14	-0.10	-0.06	0.01	0.01	-0.01	-0.00	0.05	0.04	0.05	0.06	0.04	0.09	0.11	0.07	0.066
FCF Margin Trend	-0.03	-0.03	-0.08	-0.02	-0.02	-0.04	-0.01	0.03	-0.16	-0.27	-0.06	-0.15	-0.14	-0.12	-0.47	-0.33	-0.13	0.03	0.15	0.07	0.074
Sustainable Growth Rate	10.9%	9.3%	8.7%	7.5%	2.3%	2.9%	3.0%	3.5%	2.9%	-5.2%	—	—	—	—	—	—	3.0%	9.1%	12.8%	19.1%	19.08%
Internal Growth Rate	9.4%	7.8%	7.4%	6.5%	1.9%	2.4%	2.5%	3.0%	2.4%	—	—	—	—	—	—	—	1.9%	5.9%	8.6%	14.3%	14.28%

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	1.45	1.72	1.68	2.16	2.53	2.33	2.66	2.52	2.77	71.01	-33.88	-7.78	-1.33	-1.40	-0.56	-1.23	3.24	2.19	2.27	1.13	1.131
FCF/OCF	0.58	0.58	0.54	0.52	0.73	0.73	0.71	0.67	0.21	-0.06	0.28	0.17	0.06	-0.01	-1.43	-0.63	-0.26	0.07	0.35	0.19	0.189
FCF/Net Income	snapshot only																				0.214
OCF/EBITDA	snapshot only																				0.474
CapEx/Revenue	16.2%	17.2%	17.8%	21.9%	9.3%	9.0%	10.9%	13.0%	30.5%	39.1%	45.8%	46.5%	47.6%	47.0%	42.5%	40.0%	35.9%	26.9%	22.0%	19.5%	19.47%
CapEx/Depreciation	snapshot only																				1.389
Accruals Ratio	-0.06	-0.09	-0.08	-0.13	-0.10	-0.09	-0.12	-0.11	-0.12	-0.17	-0.28	-0.24	-0.35	-0.31	-0.18	-0.18	-0.09	-0.09	-0.12	-0.02	-0.019
Sloan Accruals	snapshot only																				-0.018
Cash Flow Adequacy	snapshot only																				1.080
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	5.6%	4.8%	4.1%	5.5%	5.7%	5.0%	4.5%	4.4%	5.4%	5.0%	6.0%	5.5%	4.8%	5.9%	4.0%	2.7%	1.7%	1.4%	1.5%	1.9%	1.58%
Dividend/Share	$0.16	$0.16	$0.16	$0.16	$0.16	$0.16	$0.16	$0.14	$0.14	$0.14	$0.15	$0.14	$0.14	$0.14	$0.11	$0.10	$0.08	$0.06	$0.07	$0.07	$0.08
Payout Ratio	37.2%	40.1%	41.2%	44.7%	72.2%	66.5%	65.5%	59.5%	65.2%	18.6%	—	—	—	—	—	—	56.4%	25.8%	19.2%	13.0%	13.01%
FCF Payout Ratio	44.6%	39.9%	45.3%	39.5%	38.9%	38.8%	34.7%	35.3%	1.1%	—	55.5%	97.3%	3.2%	—	—	—	—	1.7%	24.5%	60.9%	60.92%
Total Payout Ratio	37.2%	40.1%	41.2%	44.7%	72.2%	66.5%	65.5%	59.5%	65.2%	18.6%	—	—	—	—	—	—	60.9%	28.2%	35.5%	35.5%	35.48%
Div. Increase Streak	1	1	1	0	0	0	1	0	0	0	1	1	1	0	0	0	0	0	0	0	0
Chowder Number	1.05	0.50	0.18	-0.05	0.05	0.05	0.05	0.10	0.15	0.17	0.19	0.09	0.06	0.04	-0.10	-0.19	-0.32	-0.43	-0.35	-0.27	-0.265
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%	0.1%	0.1%	1.3%	3.2%	3.20%
Net Buyback Yield	-0.2%	-0.2%	-0.2%	-0.6%	-0.5%	-0.4%	-0.3%	-0.2%	-0.4%	-0.3%	-0.4%	-0.3%	-0.1%	-0.4%	-0.3%	-0.3%	-0.5%	-1.0%	-0.2%	1.2%	1.19%
Total Shareholder Return	5.4%	4.6%	3.9%	4.9%	5.1%	4.6%	4.1%	4.3%	5.0%	4.6%	5.6%	5.2%	4.7%	5.5%	3.6%	2.4%	1.2%	0.4%	1.3%	3.0%	3.04%

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)	0.62	0.58	0.57	0.54	0.44	0.48	0.46	0.49	0.46	0.03	-0.13	-1.02	1.54	2.04	2.00	9.81	0.30	0.41	0.40	0.48	0.478
Interest Burden (EBT/EBIT)	0.99	1.00	0.99	1.00	1.00	0.99	0.99	0.98	0.99	0.98	0.96	0.89	1.06	1.12	1.11	2.79	0.97	0.96	0.96	1.21	1.214
EBIT Margin	0.43	0.41	0.41	0.39	0.32	0.31	0.31	0.33	0.31	0.17	0.15	0.08	-0.23	-0.15	-0.14	-0.01	0.30	0.33	0.38	0.37	0.366
Asset Turnover	0.52	0.51	0.51	0.52	0.48	0.48	0.50	0.45	0.48	0.45	0.42	0.38	0.40	0.39	0.38	0.41	0.48	0.57	0.66	0.68	0.677
Equity Multiplier	1.27	1.27	1.26	1.23	1.23	1.23	1.24	1.23	1.22	1.25	1.32	1.30	1.38	1.43	1.50	1.49	1.65	1.63	1.63	1.53	1.527

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)	$0.43	$0.40	$0.39	$0.35	$0.22	$0.24	$0.24	$0.24	$0.22	$0.01	$-0.03	$-0.11	$-0.56	$-0.48	$-0.42	$-0.29	$0.15	$0.25	$0.36	$0.53	$0.53
Book Value/Share	$2.59	$2.69	$2.73	$2.73	$2.69	$2.80	$2.82	$3.19	$3.04	$2.91	$2.93	$2.87	$2.31	$2.27	$2.13	$2.21	$2.24	$2.22	$2.45	$2.66	$3.00
Tangible Book/Share	$2.59	$2.69	$2.73	$2.73	$2.69	$2.80	$2.82	$3.19	$3.04	$2.91	$2.93	$2.87	$2.31	$2.27	$2.13	$2.21	$2.24	$2.22	$2.45	$2.66	$2.66
Revenue/Share	$1.62	$1.66	$1.66	$1.67	$1.57	$1.61	$1.70	$1.53	$1.55	$1.49	$1.47	$1.49	$1.46	$1.45	$1.34	$1.47	$1.69	$1.89	$2.44	$2.51	$2.82
FCF/Share	$0.36	$0.40	$0.35	$0.40	$0.40	$0.40	$0.45	$0.40	$0.13	$-0.03	$0.26	$0.15	$0.04	$-0.01	$-0.34	$-0.23	$-0.13	$0.04	$0.28	$0.11	$0.13
OCF/Share	$0.62	$0.68	$0.65	$0.77	$0.55	$0.55	$0.64	$0.60	$0.60	$0.55	$0.94	$0.84	$0.74	$0.67	$0.24	$0.36	$0.48	$0.54	$0.82	$0.60	$0.67
Cash/Share	$0.51	$0.63	$0.61	$0.55	$0.51	$0.61	$0.62	$0.40	$0.24	$0.23	$0.43	$0.36	$0.33	$0.27	$0.24	$0.21	$0.25	$0.24	$0.32	$0.19	$0.22
EBITDA/Share	$1.01	$1.04	$1.04	$1.03	$0.85	$0.86	$0.90	$0.83	$0.80	$0.56	$0.52	$0.42	$-0.05	$0.07	$0.06	$0.24	$0.77	$0.90	$1.26	$1.27	$1.27
Debt/Share	$0.08	$0.07	$0.07	$0.06	$0.06	$0.05	$0.05	$0.04	$0.04	$0.15	$0.03	$0.03	$0.28	$0.33	$0.29	$0.29	$0.43	$0.39	$0.35	$0.31	$0.31
Net Debt/Share	$-0.44	$-0.56	$-0.54	$-0.49	$-0.45	$-0.55	$-0.58	$-0.36	$-0.20	$-0.09	$-0.40	$-0.33	$-0.04	$0.07	$0.05	$0.08	$0.18	$0.15	$0.03	$0.11	$0.11

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 Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.506
Altman Z-Prime	snapshot only																				5.572
Piotroski F-Score	6	6	5	6	5	4	6	5	7	3	3	5	3	2	4	4	6	6	6	7	7
Beneish M-Score	-2.21	-2.28	-2.38	-3.05	-2.42	-2.71	-3.18	-3.07	-2.87	-2.81	-3.25	-3.02	-3.44	-3.52	-2.86	-3.22	-2.58	-2.10	-2.36	-1.88	-1.877
Ohlson O-Score	snapshot only																				-10.480
ROIC (Greenblatt)	snapshot only																				32.78%
Net-Net WC	snapshot only																				$-0.43
EVA	snapshot only																				$434869445.78

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	97.41	97.36	97.50	97.70	97.67	97.74	97.47	97.63	93.10	84.46	79.98	73.56	43.68	26.31	29.92	36.54	70.68	75.96	87.99	87.16	87.160
Credit Grade	snapshot only																				3
Credit Trend	snapshot only																				50.617
Implied Spread (bps)	snapshot only																				80.000
Industry Credit Rank	snapshot only																				74
Sector Credit Rank	snapshot only																				81

BTG AMEX

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

Workforce & Productivity

Scaling Efficiency

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