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CATY NASDAQ

Cathay General Bancorp
1W: +6.6% 1M: +6.5% 3M: +2.9% YTD: +35.6% 1Y: +41.6% 3Y: +112.3% 5Y: +82.8%
$64.69
-0.03 (-0.05%)
After Hours: $63.52 (-1.17, -1.81%)
Weekly Expected Move ±3.7%
$59 $62 $64 $67 $69
NASDAQ · Financial Services · Banks - Regional · Tech Score Buy · Power 67 · $4.3B mcap · 63M float · 0.779% daily turnover · Short 71% of daily vol
Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: none of note held by US funds details ▾
Not rated: lending and leverage are a financial company's business, which the model misreads.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

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
35.2 / 100
NoneWeakNarrowWide
Primary source: Cost Advantage  ·  ROIC: -701.5%
Cost Advantage ★
46
Intangibles
36
Switching Cost
23
Network Effect
32
Scale
43
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. CATY has No discernible competitive edge (35.2/100). The business operates without significant structural advantages. The primary source of advantage is Cost Advantage. Negative ROIC of -701.5% indicates the company is currently destroying value, though this may reflect a growth investment phase.

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
$0
Low
$57
Avg Target
$57
High
Based on 4 analyst ratings (12 mo)
Analyst Recommendations
Strong Buy: 0Buy: 3Hold: 9Sell: 1Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$57.25
Analysts4
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-07-27 Piper Sandler — $47 $53 +6 -15.8% $62.92
2026-07-23 D.A. Davidson Gary Tenner $52 $66 +14 +5.3% $62.67
2026-07-23 Stephens Andrew Terrell $50 $63 +13 +2.7% $61.36
2026-04-27 Piper Sandler Matthew Clark Initiated $47 — -13.6% $54.38
2025-10-23 D.A. Davidson — $51 $52 +1 +12.2% $46.34
2025-08-04 Stephens — $60 $50 -10 +9.8% $45.52
2025-07-23 D.A. Davidson Gary Tenner Initiated $51 — +5.7% $48.24
2025-05-20 Jefferies David Chiaverini Initiated $53 — +18.9% $44.57
2024-12-09 Stephens Andrew Terrell Initiated $60 — +16.3% $51.60
2024-07-23 Wedbush David Chiaverini Initiated $50 — +16.2% $43.02
2022-06-15 Truist Financial — Initiated $43 — +10.0% $39.09

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
4
ROE
4
ROA
4
D/E
4
P/E
3
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. CATY receives an overall rating of A. Strongest factors: DCF (4/5), ROE (4/5), ROA (4/5), D/E (4/5).
Rating Change History
DateFromTo
2026-10-12 A- A
2026-10-01 B+ A-
2026-08-03 A- B+
2026-07-14 A A-
2026-07-10 A- A
2026-04-27 A A-
2026-04-22 A- A
2026-04-01 B+ A-
2026-03-30 A- B+
2026-03-04 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.

★ ★ ★ ★ ★ 65 Grade A+
Profitability
67
Balance Sheet
52
Earnings Quality
92
Growth
56
Value
84
Momentum
84
Safety
50
Cash Flow
94
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. CATY scores highest in Cash Flow (94/100) and lowest in Safety (50/100). An overall grade of A+ places CATY 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
2.48
Grey Zone
Piotroski F-Score
9/9
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Beneish M-Score
-2.59
Unlikely Manipulator
Ohlson O-Score
-4.38
Bankruptcy prob: 1.2%
Low Risk
Credit Rating
A+
Score: 75.2/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 1.32x
Accruals: -0.5%
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. CATY scores 2.48, placing it in the Grey Zone (safe > 3.0, distress < 1.5). Financial distress is possible and warrants monitoring. 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. CATY scores 9/9, 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. CATY's score of -2.59 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. CATY's implied 1.2% 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. CATY receives an estimated rating of A+ (score: 75.2/100), with a deteriorating 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). CATY'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
11.87x
PEG
0.47x
P/S
3.03x
P/B
1.41x
P/FCF
8.37x
P/OCF
8.23x
EV/EBITDA
1.70x
EV/Revenue
0.60x
EV/EBIT
1.76x
EV/FCF
1.81x
Earnings Yield
9.18%
FCF Yield
11.95%
Shareholder Yield
5.57%
Graham Number
$75.03
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 11.9x earnings, CATY trades at a reasonable valuation. An earnings yield of 9.2% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $75.03 per share, suggesting a potential 16% 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
0.785
NI / EBT
×
Interest Burden
0.949
EBT / EBIT
×
EBIT Margin
0.344
EBIT / Rev
×
Asset Turnover
0.057
Rev / Assets
×
Equity Multiplier
8.332
Assets / Equity
=
ROE
12.2%
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. CATY's ROE of 12.2% is driven by financial leverage (equity multiplier: 8.33x). 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.

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
2.56%
Fair P/E
13.62x
Intrinsic Value
$74.41
Price/Value
0.80x
Margin of Safety
20.04%
Premium
-20.04%
Assessment
Neutral
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with CATY's realized 2.6% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. CATY trades at a -20% premium to its adjusted intrinsic value of $74.41, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 13.6x compares to the current market P/E of 11.9x.

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
$64.69
Median 1Y
$68.86
5th Pctile
$38.03
95th Pctile
$124.47
Ann. Volatility
36.5%
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

ExecutiveSalaryStockTotal
Chang M. Liu
President and Chief Executive Officer of Bancorp and Cathay Bank
$987,750 $1,999,949 $4,145,991
Dunson K. Cheng
Executive Chairman of Bancorp and Cathay Bank
$525,000 $1,139,931 $2,297,967
Heng W. Chen
5/ Former Executive Vice President and Chief Financial Officer of Bancorp and Cathay Bank
$583,750 $627,949 $1,731,099
Albert Sun Credit
ive Vice President and Chief Credit Officer of Cathay Bank
$399,127 $361,929 $1,095,856
Diana G. Deen
Executive Vice President and Chief Risk Officer of Cathay Bank
$422,310 $— $758,472

CEO Pay Ratio

27:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $4,145,991
Avg Employee Cost (SGA/emp): $152,042
Employees: 1,268

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
1,268
+0.2% YoY
Revenue / Employee
$1,092,028
Rev: $1,384,692,000
Profit / Employee
$248,521
NI: $315,124,000
SGA / Employee
$152,042
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 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 Q3'26 Current
ROE 12.3% 12.3% 12.8% 13.9% 14.7% 15.4% 15.3% 14.6% 13.6% 12.4% 11.2% 10.5% 10.2% 10.1% 10.4% 10.6% 10.9% 11.4% 11.7% 12.2% 12.24%
ROA 1.5% 1.5% 1.5% 1.6% 1.7% 1.8% 1.7% 1.7% 1.6% 1.5% 1.3% 1.3% 1.2% 1.2% 1.3% 1.3% 1.3% 1.4% 1.4% 1.5% 1.47%
ROIC -31.8% 13.0% 1.6% 2.1% 72.5% 94.9% 61.9% 2.4% 35.0% 85.6% 80.4% 1.4% 21.0% 24.4% 21.3% 29.1% 24.7% 11.5% 1.9% -7.0% -7.02%
ROCE 13.5% 13.8% 13.5% 13.3% 13.7% 14.5% 12.2% 13.8% 10.7% 10.3% 9.8% 9.7% 9.4% 9.6% 9.4% 10.2% 2.8% 12.8% 12.9% 13.9% 13.88%
Gross Margin 90.9% 88.9% 91.7% 87.1% 77.0% 66.3% 60.5% 56.3% 57.1% 51.1% 49.7% 48.6% 49.8% 52.1% 54.8% 51.2% 61.8% 55.0% 60.5% 58.3% 58.27%
Operating Margin 52.1% 51.0% 55.4% 55.1% 47.6% 38.5% 31.8% 27.9% 26.1% 23.6% 21.0% 21.7% 25.1% 26.2% 28.5% 26.4% 36.2% 33.7% 36.3% 31.6% 31.62%
Net Margin 39.9% 39.0% 43.6% 42.0% 35.4% 32.0% 28.8% 24.9% 23.2% 21.1% 19.3% 18.8% 23.2% 21.0% 22.9% 21.9% 25.1% 26.6% 26.4% 24.5% 24.53%
EBITDA Margin 54.4% 53.4% 57.9% 57.1% 49.6% 40.0% 33.2% 29.3% 27.3% 24.9% 22.2% 22.9% 26.3% 27.5% 29.7% 27.5% 39.4% 34.9% 36.3% 31.6% 31.62%
FCF Margin 45.8% 43.9% 44.5% 55.9% 50.7% 48.8% 43.7% 33.7% 29.1% 25.8% 24.0% 21.7% 23.4% 24.2% 23.6% 28.8% 25.8% 25.9% 38.4% 33.4% 33.35%
OCF Margin 46.4% 44.5% 45.1% 56.3% 51.0% 49.0% 43.9% 33.8% 29.4% 26.1% 24.3% 22.0% 23.7% 24.6% 24.1% 29.2% 26.6% 26.7% 38.9% 33.9% 33.91%
ROE 3Y Avg snapshot only 10.87%
ROE 5Y Avg snapshot only 12.12%
ROA 3Y Avg snapshot only 1.31%
ROIC Economic snapshot only 11.55%
Cash ROA snapshot only 1.89%
NOPAT Margin snapshot only 27.01%
Pretax Margin snapshot only 32.65%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 16.42%
SBC / Revenue snapshot only 0.38%
Valuation
Metric Trend 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 Q3'26 Current
P/E Ratio 9.54 9.79 8.27 7.36 7.38 5.90 5.49 6.27 8.46 7.79 8.51 10.15 11.33 10.27 10.49 10.58 10.23 9.98 11.94 10.89 11.865
P/S Ratio 3.95 3.97 3.36 3.03 2.93 2.22 1.87 1.88 2.29 1.90 1.88 2.09 2.33 2.11 2.25 2.35 2.33 2.40 2.98 2.79 3.030
P/B Ratio 1.16 1.21 1.06 1.03 1.08 0.89 0.81 0.88 1.09 0.92 0.92 1.03 1.14 1.02 1.07 1.11 1.10 1.11 1.36 1.30 1.407
P/FCF 8.61 9.04 7.55 5.43 5.78 4.54 4.27 5.58 7.86 7.38 7.81 9.64 9.96 8.72 9.51 8.16 9.02 9.29 7.76 8.37 8.365
P/OCF 8.51 8.92 7.46 5.38 5.74 4.52 4.26 5.56 7.79 7.30 7.72 9.50 9.85 8.58 9.34 8.05 8.75 9.02 7.66 8.23 8.229
EV/EBITDA -1.35 1.34 0.82 0.50 1.39 0.22 0.28 -0.36 3.02 0.45 0.46 0.91 5.26 3.56 4.36 3.61 3.78 7.35 2.69 1.70 1.702
EV/Revenue -0.75 0.73 0.44 0.28 0.75 0.11 0.12 -0.14 0.97 0.13 0.12 0.22 1.26 0.88 1.16 1.00 1.18 2.42 0.93 0.60 0.605
EV/EBIT -1.41 1.39 0.85 0.52 1.45 0.23 0.29 -0.38 3.15 0.47 0.48 0.96 5.54 3.75 4.57 3.77 4.00 7.75 2.80 1.76 1.756
EV/FCF -1.63 1.66 1.00 0.50 1.49 0.22 0.28 -0.41 3.34 0.50 0.49 1.02 5.40 3.63 4.89 3.47 4.56 9.34 2.42 1.81 1.813
Earnings Yield 10.5% 10.2% 12.1% 13.6% 13.6% 17.0% 18.2% 16.0% 11.8% 12.8% 11.8% 9.8% 8.8% 9.7% 9.5% 9.5% 9.8% 10.0% 8.4% 9.2% 9.18%
FCF Yield 11.6% 11.1% 13.2% 18.4% 17.3% 22.0% 23.4% 17.9% 12.7% 13.5% 12.8% 10.4% 10.0% 11.5% 10.5% 12.2% 11.1% 10.8% 12.9% 12.0% 11.95%
PEG Ratio snapshot only 0.475
Price/Tangible Book snapshot only 1.483
EV/OCF snapshot only 1.783
EV/Gross Profit snapshot only 1.026
Acquirers Multiple snapshot only 1.756
Shareholder Yield snapshot only 5.57%
Graham Number snapshot only $75.03
Leverage & Solvency
Metric Trend 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 Q3'26 Current
Current Ratio 0.20 0.14 0.13 0.15 0.15 0.15 0.16 0.14 0.13 0.15 0.14 0.15 0.09 0.10 0.11 0.11 0.20 0.01 0.15 0.16 0.160
Quick Ratio 0.20 0.14 0.13 0.15 0.15 0.15 0.16 0.14 0.13 0.15 0.14 0.15 0.09 0.10 0.11 0.11 0.20 0.01 0.15 0.16 0.160
Debt/Equity 0.08 0.03 0.06 0.17 0.27 0.21 0.38 0.07 0.26 0.16 0.12 0.08 0.08 0.09 0.20 0.12 0.07 0.05 0.05 0.10 0.099
Net Debt/Equity -1.38 -0.99 -0.92 -0.93 -0.80 -0.84 -0.76 -0.94 -0.63 -0.86 -0.87 -0.92 -0.52 -0.59 -0.52 -0.64 -0.55 0.01 -0.94 -1.02 -1.018
Debt/Assets 0.01 0.00 0.01 0.02 0.03 0.02 0.04 0.01 0.03 0.02 0.01 0.01 0.01 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.012
Debt/EBITDA 0.48 0.20 0.37 0.91 1.34 1.05 1.99 0.41 1.68 1.13 0.95 0.67 0.68 0.77 1.60 0.95 0.48 0.34 0.32 0.60 0.598
Net Debt/EBITDA -8.50 -5.96 -5.37 -4.93 -4.01 -4.20 -3.97 -5.38 -4.09 -6.20 -6.79 -7.68 -4.44 -4.99 -4.12 -4.88 -3.70 0.04 -5.94 -6.15 -6.155
Interest Coverage 5.55 6.43 7.00 6.34 4.02 2.48 1.59 1.07 0.81 0.64 0.54 0.50 0.48 0.51 0.57 0.62 0.72 0.78 0.86 0.93 0.931
Equity Multiplier 8.54 8.61 8.73 9.05 8.87 8.67 8.85 8.66 8.43 8.42 8.32 8.22 8.10 8.10 8.22 8.30 8.28 8.05 8.09 8.37 8.366
Cash Ratio snapshot only 0.155
Debt Service Coverage snapshot only 0.961
Cash to Debt snapshot only 11.290
FCF to Debt snapshot only 1.570
Defensive Interval snapshot only 3669.8 days
Efficiency & Turnover
Metric Trend 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 Q3'26 Current
Asset Turnover 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.057
Inventory Turnover — — — — — — — — — — — — — — — — — — — — —
Receivables Turnover 12.43 12.51 12.98 12.83 13.03 14.26 15.32 15.18 14.55 14.97 14.79 15.05 14.23 14.27 14.02 14.31 14.22 14.51 14.54 14.73 14.733
Payables Turnover — — — — — — — — — — — — — — — — — — 106.26 — —
DSO 29 29 28 28 28 26 24 24 25 24 25 24 26 26 26 26 26 25 25 25 24.8 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 —
Cash Conversion Cycle 29 29 28 28 28 26 24 24 25 24 25 24 26 26 26 26 26 25 22 25 —
Fixed Asset Turnover snapshot only 15.758
Cash Velocity snapshot only 0.417
Capital Intensity snapshot only 17.963
Growth (YoY)
Metric Trend 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 Q3'26 Current
Revenue -3.0% 2.2% 7.5% 15.5% 25.9% 37.2% 48.1% 49.8% 44.3% 32.9% 21.0% 13.9% 6.1% 2.4% 0.1% -2.3% -0.4% -0.1% 1.2% 3.9% 3.95%
Net Income 30.3% 17.4% 12.0% 15.1% 20.9% 27.2% 23.8% 9.1% -1.8% -13.6% -21.4% -21.9% -19.2% -13.8% -2.8% 5.7% 10.2% 17.1% 17.8% 19.7% 19.68%
EPS 35.3% 23.8% 18.2% 22.5% 26.6% 32.1% 28.1% 9.9% -1.1% -13.7% -21.5% -21.0% -17.6% -11.0% 0.8% 10.4% 15.9% 22.8% 22.9% 23.7% 23.67%
FCF 5.2% 4.5% 10.1% 43.3% 39.1% 52.5% 45.3% -9.7% -17.1% -29.8% -33.4% -26.7% -14.6% -3.8% -1.6% 30.0% 9.8% 6.8% 64.4% 20.2% 20.25%
EBITDA 47.1% 30.3% 18.5% 20.4% 23.7% 26.6% 19.8% 0.6% -14.4% -24.2% -28.7% -26.0% -20.7% -11.8% 2.4% 11.4% 28.9% 33.3% 31.9% 33.1% 33.12%
Op. Income 50.4% 32.2% 19.5% 20.7% 23.8% 26.9% 20.1% 0.5% -14.6% -24.8% -29.5% -26.7% -21.3% -12.0% 2.9% 12.3% 28.3% 32.8% 32.6% 34.8% 34.83%
OCF Growth snapshot only 20.58%
Asset Growth snapshot only 6.22%
Equity Growth snapshot only 5.32%
Debt Growth snapshot only -15.97%
Shares Change snapshot only -3.23%
Dividend Growth snapshot only 5.60%
Growth (CAGR)
Metric Trend 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 Q3'26 Current
Revenue 3Y 0.1% -0.7% -0.8% 0.5% 3.7% 8.0% 12.8% 17.2% 20.8% 23.1% 24.4% 25.4% 24.5% 23.1% 21.5% 18.6% 15.1% 10.8% 7.0% 5.0% 4.99%
Revenue 5Y 6.3% 6.5% 6.8% 7.2% 8.4% 9.9% 11.2% 12.2% 12.7% 12.3% 11.8% 11.6% 11.3% 11.4% 11.7% 12.4% 13.2% 13.8% 14.3% 14.9% 14.89%
EPS 3Y 5.0% 5.2% 6.8% 10.1% 12.1% 17.2% 20.5% 21.5% 19.2% 12.2% 5.9% 2.1% 1.0% 0.5% 0.5% -1.4% -1.9% -2.0% -0.9% 2.6% 2.56%
EPS 5Y 12.1% 12.4% 11.4% 13.6% 17.9% 17.5% 15.3% 12.2% 7.7% 5.8% 4.1% 3.0% 2.8% 4.3% 6.7% 9.4% 10.1% 9.1% 8.0% 7.8% 7.76%
Net Income 3Y 3.1% 3.0% 4.5% 7.0% 8.9% 13.7% 16.9% 17.9% 15.7% 8.9% 2.9% -0.6% -1.4% -1.8% -1.9% -3.4% -4.4% -4.5% -3.5% -0.4% -0.40%
Net Income 5Y 11.2% 11.0% 9.9% 11.3% 15.4% 14.9% 12.6% 9.6% 5.4% 3.7% 2.1% 0.8% 0.5% 1.8% 4.1% 6.2% 6.6% 5.4% 4.5% 4.4% 4.42%
EBITDA 3Y 4.9% 4.8% 5.6% 8.3% 10.5% 15.0% 17.6% 19.1% 16.0% 7.7% 0.4% -3.6% -5.6% -5.4% -4.4% -6.1% -4.3% -3.8% -1.2% 3.1% 3.12%
EBITDA 5Y 9.8% 10.0% 9.1% 9.4% 10.0% 9.8% 8.2% 6.3% 4.1% 2.0% 0.1% -1.1% -1.7% 0.3% 3.5% 6.9% 9.8% 8.0% 6.5% 5.8% 5.84%
Gross Profit 3Y 3.6% 3.1% 3.5% 5.4% 7.4% 10.8% 13.2% 13.9% 13.4% 9.3% 5.5% 3.5% 1.2% 0.9% 0.6% -1.1% -0.6% -1.4% -0.7% 1.9% 1.91%
Gross Profit 5Y 7.4% 7.6% 7.8% 7.9% 8.0% 7.8% 7.1% 6.1% 5.4% 4.3% 3.4% 2.9% 2.0% 3.2% 4.7% 5.8% 7.2% 5.8% 4.9% 5.2% 5.15%
Op. Income 3Y 4.2% 4.3% 5.3% 8.2% 10.6% 15.2% 18.1% 19.9% 16.7% 8.0% 0.4% -3.9% -6.0% -5.6% -4.5% -6.2% -4.8% -4.2% -1.3% 3.5% 3.51%
Op. Income 5Y 9.5% 9.7% 8.7% 9.0% 9.6% 9.5% 7.8% 5.8% 3.6% 1.6% -0.2% -1.4% -1.9% 0.3% 3.6% 7.2% 9.9% 8.1% 6.7% 6.1% 6.10%
FCF 3Y 0.1% -0.6% -1.1% 3.5% 2.4% 4.3% 5.2% 7.0% 6.7% 3.8% 2.1% -1.7% -0.5% 1.0% -1.6% -4.9% -8.1% -10.3% 2.5% 4.6% 4.64%
FCF 5Y 7.4% 5.9% 4.8% 19.8% 13.4% 12.3% 13.4% 3.0% 2.9% 1.0% -1.3% -6.0% -5.3% -5.2% -5.3% 3.2% 2.6% 2.8% 11.5% 8.2% 8.20%
OCF 3Y -0.2% -1.0% -1.4% 3.2% 2.1% 4.0% 4.7% 6.5% 6.3% 3.6% 2.1% -1.7% -0.5% 1.1% -1.4% -4.7% -7.3% -9.6% 2.8% 5.1% 5.05%
OCF 5Y 7.4% 5.9% 4.8% 19.8% 13.2% 12.2% 13.1% 2.7% 2.7% 0.8% -1.5% -6.0% -5.4% -5.2% -5.3% 3.1% 2.9% 3.1% 11.5% 8.3% 8.28%
Assets 3Y 7.6% 6.8% 6.4% 6.7% 6.6% 6.4% 6.1% 6.3% 6.6% 6.8% 6.3% 5.4% 3.3% 3.6% 3.8% 3.2% 3.4% 3.0% 2.3% 3.8% 3.83%
Assets 5Y 7.5% 8.0% 8.2% 6.8% 7.0% 6.8% 7.3% 6.8% 6.6% 6.5% 5.7% 5.3% 5.0% 4.9% 4.2% 4.8% 4.9% 4.6% 5.0% 5.2% 5.19%
Equity 3Y 4.9% 3.8% 3.4% 2.5% 2.5% 3.2% 3.6% 3.6% 4.2% 4.2% 4.4% 4.7% 5.2% 5.8% 5.9% 6.3% 5.7% 5.5% 5.4% 5.0% 5.02%
Book Value 3Y 6.7% 6.1% 5.7% 5.5% 5.5% 6.4% 6.8% 6.7% 7.4% 7.4% 7.5% 7.6% 7.8% 8.2% 8.4% 8.5% 8.5% 8.3% 8.2% 8.1% 8.14%
Dividend 3Y 2.0% 2.7% 3.1% 4.3% 3.4% 3.0% 2.4% 1.9% 2.3% 2.6% 2.8% 2.7% 2.2% 1.8% 1.4% 0.9% 1.1% 2.0% 2.9% 3.7% 3.72%
Growth Quality
Metric Trend 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 Q3'26 Current
Revenue Stability 0.51 0.48 0.47 0.52 0.59 0.59 0.55 0.57 0.60 0.62 0.64 0.66 0.71 0.77 0.81 0.84 0.88 0.89 0.86 0.82 0.823
Earnings Stability 0.61 0.76 0.83 0.74 0.66 0.76 0.81 0.77 0.58 0.57 0.45 0.33 0.26 0.23 0.22 0.20 0.18 0.12 0.08 0.07 0.067
Margin Stability 0.90 0.92 0.91 0.89 0.90 0.92 0.89 0.85 0.84 0.83 0.81 0.77 0.76 0.76 0.77 0.76 0.78 0.78 0.76 0.74 0.740
Rev. Growth Consistency 0.00 0.50 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 0.00 0.00 0.00 1.00 0.50 0.500
Earn. Growth Consistency 0.50 0.50 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 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 0.88 0.93 0.95 0.94 0.92 0.89 0.90 0.96 0.99 0.95 0.91 0.91 0.92 0.94 0.99 0.98 0.96 0.93 0.93 0.92 0.921
Earnings Smoothness 0.74 0.84 0.89 0.86 0.81 0.76 0.79 0.91 0.98 0.85 0.76 0.75 0.79 0.85 0.97 0.94 0.90 0.84 0.84 0.82 0.821
ROE Trend 0.01 0.02 0.02 0.03 0.04 0.04 0.03 0.01 -0.00 -0.02 -0.03 -0.04 -0.04 -0.04 -0.03 -0.02 -0.01 0.00 0.01 0.02 0.016
Gross Margin Trend 0.18 0.14 0.11 0.09 0.03 -0.07 -0.18 -0.26 -0.29 -0.29 -0.27 -0.25 -0.23 -0.18 -0.11 -0.06 0.00 0.03 0.05 0.07 0.072
FCF Margin Trend -0.02 -0.05 -0.04 0.11 0.07 0.05 -0.00 -0.17 -0.19 -0.21 -0.20 -0.23 -0.16 -0.13 -0.10 0.01 -0.00 0.01 0.15 0.08 0.081
Sustainable Growth Rate 8.2% 8.2% 8.6% 9.7% 10.6% 11.3% 11.4% 10.7% 9.8% 8.7% 7.6% 6.9% 6.7% 6.6% 7.0% 7.3% 7.7% 8.1% 8.4% 9.0% 8.98%
Internal Growth Rate 1.0% 1.0% 1.0% 1.1% 1.2% 1.3% 1.3% 1.2% 1.1% 1.0% 0.9% 0.8% 0.8% 0.8% 0.9% 0.9% 0.9% 1.0% 1.0% 1.1% 1.09%
Cash Flow Quality
Metric Trend 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 Q3'26 Current
OCF/Net Income 1.12 1.10 1.11 1.37 1.28 1.31 1.29 1.13 1.09 1.07 1.10 1.07 1.15 1.20 1.12 1.31 1.17 1.11 1.56 1.32 1.323
FCF/OCF 0.99 0.99 0.99 0.99 0.99 1.00 1.00 1.00 0.99 0.99 0.99 0.99 0.99 0.98 0.98 0.99 0.97 0.97 0.99 0.98 0.984
FCF/Net Income snapshot only 1.302
OCF/EBITDA snapshot only 0.955
CapEx/Revenue 0.5% 0.6% 0.5% 0.5% 0.4% 0.2% 0.2% 0.2% 0.3% 0.3% 0.3% 0.3% 0.3% 0.4% 0.4% 0.4% 0.8% 0.8% 0.5% 0.6% 0.55%
CapEx/Depreciation snapshot only 0.509
Accruals Ratio -0.00 -0.00 -0.00 -0.01 -0.00 -0.01 -0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.00 -0.01 -0.00 -0.005
Sloan Accruals snapshot only -0.013
Cash Flow Adequacy snapshot only 4.594
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend 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 Q3'26 Current
Dividend Yield 3.5% 3.4% 3.9% 4.1% 3.8% 4.4% 4.7% 4.3% 3.3% 3.8% 3.8% 3.4% 3.0% 3.3% 3.1% 3.0% 2.9% 2.9% 2.3% 2.4% 2.29%
Dividend/Share $1.29 $1.32 $1.34 $1.39 $1.37 $1.37 $1.36 $1.36 $1.35 $1.35 $1.36 $1.37 $1.37 $1.37 $1.37 $1.38 $1.38 $1.42 $1.44 $1.46 $1.48
Payout Ratio 33.3% 33.4% 32.5% 30.2% 28.0% 26.2% 25.7% 26.8% 27.9% 30.0% 32.6% 34.2% 34.3% 34.2% 32.6% 31.2% 29.8% 28.7% 27.9% 26.6% 26.64%
FCF Payout Ratio 30.0% 30.8% 29.7% 22.3% 21.9% 20.2% 20.0% 23.8% 25.9% 28.4% 29.9% 32.4% 30.1% 29.0% 29.6% 24.1% 26.2% 26.7% 18.2% 20.5% 20.47%
Total Payout Ratio 89.3% 1.0% 86.0% 82.3% 67.2% 59.0% 50.2% 39.8% 32.6% 30.0% 40.9% 55.2% 63.9% 78.6% 79.0% 81.1% 87.0% 74.2% 65.3% 60.7% 60.69%
Div. Increase Streak 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Chowder Number 0.04 0.05 0.07 0.08 0.05 0.04 0.03 0.01 0.01 0.03 0.04 0.03 0.02 0.02 0.00 -0.00 -0.01 0.01 0.03 0.05 0.046
Buyback Yield 5.9% 6.8% 6.5% 7.1% 5.3% 5.6% 4.5% 2.1% 0.6% 0.0% 1.0% 2.1% 2.6% 4.3% 4.4% 4.7% 5.6% 4.6% 3.1% 3.1% 3.13%
Net Buyback Yield 5.7% 6.7% 6.3% 6.9% 5.2% 5.4% 4.3% 1.9% 0.4% -0.1% 0.9% 2.0% 2.5% 4.2% 4.3% 4.6% 5.5% 4.5% 3.1% 3.1% 3.06%
Total Shareholder Return 9.2% 10.1% 10.3% 11.0% 9.0% 9.8% 9.0% 6.2% 3.7% 3.7% 4.7% 5.3% 5.5% 7.6% 7.4% 7.6% 8.4% 7.4% 5.4% 5.5% 5.51%
DuPont Factors
Metric Trend 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 Q3'26 Current
Tax Burden (NI/EBT) 0.78 0.78 0.78 0.77 0.76 0.78 0.80 0.84 0.88 0.89 0.90 0.89 0.90 0.88 0.85 0.84 0.81 0.80 0.80 0.78 0.785
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 0.96 0.96 0.95 0.95 0.949
EBIT Margin 0.53 0.52 0.52 0.54 0.52 0.48 0.42 0.36 0.31 0.27 0.25 0.23 0.23 0.23 0.25 0.27 0.29 0.31 0.33 0.34 0.344
Asset Turnover 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.057
Equity Multiplier 8.21 8.22 8.31 8.55 8.71 8.64 8.79 8.84 8.64 8.54 8.57 8.43 8.26 8.26 8.27 8.26 8.19 8.08 8.15 8.33 8.332
Per Share
Metric Trend 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 Q3'26 Current
EPS (Diluted TTM) $3.88 $3.96 $4.14 $4.61 $4.91 $5.23 $5.30 $5.07 $4.86 $4.52 $4.16 $4.00 $4.00 $4.02 $4.20 $4.42 $4.63 $4.93 $5.16 $5.46 $5.46
Book Value/Share $31.80 $31.99 $32.30 $32.94 $33.68 $34.87 $35.77 $36.20 $37.54 $38.07 $38.36 $39.29 $39.80 $40.54 $41.12 $42.07 $43.03 $44.32 $45.27 $45.79 $45.97
Tangible Book/Share $26.91 $26.93 $27.22 $27.73 $28.48 $29.64 $30.54 $30.98 $32.32 $32.87 $33.14 $34.03 $34.50 $35.18 $35.73 $36.58 $37.46 $38.71 $39.65 $40.13 $40.13
Revenue/Share $9.38 $9.77 $10.18 $11.18 $12.36 $13.93 $15.60 $16.88 $17.98 $18.50 $18.85 $19.45 $19.45 $19.55 $19.58 $19.85 $20.37 $20.48 $20.67 $21.32 $21.41
FCF/Share $4.30 $4.29 $4.53 $6.25 $6.26 $6.80 $6.81 $5.69 $5.23 $4.77 $4.53 $4.22 $4.55 $4.73 $4.63 $5.72 $5.26 $5.30 $7.93 $7.11 $5.77
OCF/Share $4.35 $4.35 $4.59 $6.30 $6.31 $6.83 $6.84 $5.71 $5.28 $4.82 $4.59 $4.28 $4.60 $4.81 $4.72 $5.80 $5.42 $5.46 $8.04 $7.23 $5.87
Cash/Share $46.51 $32.72 $31.73 $36.46 $35.88 $36.69 $40.82 $36.65 $33.38 $38.77 $37.81 $39.53 $23.93 $27.82 $29.70 $32.08 $26.54 $2.01 $44.72 $51.14 $51.34
EBITDA/Share $5.17 $5.31 $5.53 $6.24 $6.70 $6.99 $6.85 $6.32 $5.78 $5.29 $4.88 $4.73 $4.68 $4.82 $5.19 $5.50 $6.34 $6.74 $7.14 $7.57 $7.57
Debt/Share $2.51 $1.04 $2.03 $5.67 $8.97 $7.33 $13.61 $2.60 $9.73 $5.98 $4.63 $3.19 $3.19 $3.73 $8.31 $5.22 $3.07 $2.31 $2.29 $4.53 $4.53
Net Debt/Share $-44.00 $-31.68 $-29.71 $-30.79 $-26.90 $-29.36 $-27.20 $-34.05 $-23.64 $-32.80 $-33.18 $-36.34 $-20.74 $-24.08 $-21.39 $-26.86 $-23.47 $0.30 $-42.43 $-46.61 $-46.61
Academic Models
Metric Trend 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 Q3'26 Current
Altman-B Score — — — — — — — — — — — — — — — — — — — — 2.480
Altman Z-Prime snapshot only -4.436
Piotroski F-Score 8 6 7 6 6 7 7 7 5 5 5 6 6 7 5 6 8 7 8 9 9
Beneish M-Score -2.53 -2.35 -2.31 -2.17 -1.88 -1.87 -1.74 -1.87 -2.17 -2.16 -2.23 -2.35 -2.37 -2.50 -2.55 -2.50 -2.59 -2.51 -2.64 -2.59 -2.587
Ohlson O-Score snapshot only -4.375
Net-Net WC snapshot only $-284.46
Credit
Metric Trend 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 Q3'26 Current
Credit Rating snapshot only A+
Credit Score 87.55 88.29 90.01 90.39 90.41 91.62 90.97 90.17 89.66 89.20 88.73 88.76 88.75 88.69 87.96 88.55 78.53 83.83 88.41 75.15 75.154
Credit Grade snapshot only 5
Credit Trend snapshot only -13.396
Implied Spread (bps) snapshot only 125.000
Industry Credit Rank snapshot only 68
Sector Credit Rank snapshot only 61

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