$14.74

+0.16 (+1.10%)

Weekly Expected Move ±7.5%

$13 $14 $15 $16 $17

NASDAQ · Healthcare · Biotechnology · Tech Score Sell · Power 32 · $5.1B mcap · 223M float · 2.15% daily turnover · Short 67% 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.

NO EDGE

31.0 / 100

NoneWeakNarrowWide

Primary source: Network Effects · ROIC: -87.5% · 5Y Avg: -99.6%

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. ERAS has No discernible competitive edge (31.0/100). The business operates without significant structural advantages. The primary source of advantage is Network Effects. Negative ROIC of -87.5% 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

$21

Low

$22

Avg Target

$22

High

Based on 2 analysts since Aug 12, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 2Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$21.60

Analysts5

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-13	Guggenheim	Michael Schmidt	$12	$21	+9	+13.0%	$18.58
2026-08-12	H.C. Wainwright	—	Initiated	$22	—	+20.2%	$18.31
2026-07-20	Morgan Stanley	—	$10	$21	+11	+9.5%	$19.17
2026-07-14	Jefferies	—	$6	$24	+18	+23.1%	$19.50
2026-07-14	HSBC	—	Initiated	$20	—	+11.7%	$17.90
2026-06-04	Wolfe Research	—	Initiated	$16	—	+21.4%	$13.18
2026-05-12	Mizuho Securities	—	$5	$26	+21	+149.0%	$10.44
2026-04-27	Stifel Nicolaus	—	$20	$30	+10	+39.5%	$21.50
2026-03-10	Stifel Nicolaus	Laura Prendergast	$10	$20	+10	+28.4%	$15.58
2026-01-27	Guggenheim	—	$3	$12	+9	+24.9%	$9.61
2026-01-26	Morgan Stanley	Sean Laaman	$4	$10	+6	+0.4%	$9.96
2026-01-16	Piper Sandler	—	$5	$11	+6	+15.1%	$9.56
2026-01-12	Stifel Nicolaus	Laura Prendergast	$6	$10	+4	+60.5%	$6.23
2026-01-08	Morgan Stanley	—	Initiated	$4	—	-22.6%	$5.17
2026-01-07	Piper Sandler	—	Initiated	$5	—	+37.7%	$3.63
2025-12-09	Mizuho Securities	—	Initiated	$5	—	+49.7%	$3.34
2025-11-06	Stifel Nicolaus	—	$4	$6	+2	+173.2%	$2.20
2025-10-15	Stifel Nicolaus	Laura Prendergast	Initiated	$4	—	+60.6%	$2.49
2025-05-14	Guggenheim	Michael Schmidt	Initiated	$3	—	+136.2%	$1.27
2025-03-26	Raymond James	Laura Prendergast	Initiated	$5	—	+237.8%	$1.48
2024-11-18	Jefferies	Maury Raycroft	Initiated	$6	—	+150.0%	$2.40
2024-04-01	Goldman Sachs	Chris Shibutani	Initiated	$7	—	+216.7%	$2.21

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

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. ERAS receives an overall rating of C-. Areas of concern: ROE (1/5), ROA (1/5), D/E (2/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-10-01	C	C-
2026-08-18	C-	C
2026-07-27	C	C-
2026-06-02	C-	C
2026-04-22	C	C-
2026-04-06	C-	C
2026-04-02	C	C-
2026-03-12	C+	C
2026-03-06	C	C+
2026-02-24	C+	C

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 A+

Profitability

—

Balance Sheet

Earnings Quality

Growth

—

Value

Momentum

—

Safety

100

Cash Flow

—

Risk & Quality Signals

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

Altman Z-Score

41.65

Safe Zone

Piotroski F-Score

2/9

✗ ✗ ✗ ✓ ✓ ✗ ✗ ✗ ✗

Beneish M-Score

—

Ohlson O-Score

-4.70

Bankruptcy prob: 0.9%

Low Risk

Credit Rating

A+

Score: 75.7/100

Trend: Improving

Earnings Quality

—

OCF/NI: 0.34x

Accruals: -43.0%

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. ERAS scores 41.65, 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. ERAS scores 2/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. 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. ERAS's implied 0.9% 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. ERAS receives an estimated rating of A+ (score: 75.7/100), 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

-15.52x

PEG

0.14x

P/S

0.00x

P/B

12.68x

P/FCF

-58.15x

P/OCF

—

EV/EBITDA

-19.28x

EV/Revenue

—

EV/EBIT

-19.08x

EV/FCF

-55.87x

Earnings Yield

-5.04%

FCF Yield

-1.72%

Shareholder Yield

0.00%

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. ERAS 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

1.000

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

—

EBIT / Rev

Asset Turnover

0.000

Rev / Assets

Equity Multiplier

1.199

Assets / Equity

ROE

-78.2%

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. ERAS's ROE of -78.2% is driven by A tax burden ratio of 1.00 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 1310 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$14.74

Median 1Y

$10.13

5th Pctile

$2.56

95th Pctile

$39.96

Ann. Volatility

83.6%

Analyst Target

$21.60

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

Executive	Salary	Stock	Total
Jonathan E. Lim, M.D. Chairman, Chief Executive Officer, and Co-Founder	$670,400	$—	$4,298,838
David M. Chacko, M.D. Chief Financial Officer and Chief Business Officer	$516,700	$—	$1,778,496
Shannon R. Morris, M.D., Ph.D. Chief Medical Officer	$515,000	$—	$1,750,898

CEO Pay Ratio

11:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $4,298,838

Avg Employee Cost (SGA/emp): $374,282

Employees: 103

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

103

0.0% YoY

Revenue / Employee

—

Profit / Employee

$-1,209,184

NI: $-124,546,000

SGA / Employee

$374,282

Avg labor cost proxy

R&D / Employee

$901,495

Innovation spend

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	-9.5%	-16.8%	-26.6%	-37.6%	-32.5%	-55.9%	-59.1%	-62.2%	-65.5%	-34.3%	-37.6%	-38.9%	-40.3%	-43.7%	-45.8%	-31.2%	-32.0%	-33.3%	-69.9%	-78.2%	-78.25%
ROA	-8.8%	-15.3%	-23.8%	-33.4%	-28.5%	-47.8%	-50.8%	-53.2%	-53.3%	-27.5%	-30.3%	-32.8%	-33.6%	-36.0%	-37.5%	-26.4%	-26.9%	-27.7%	-59.4%	-65.2%	-65.25%
ROIC	-2.2%	-1.0%	-1.5%	-2.3%	-1.7%	-6.2%	-3.6%	-1.9%	-2.0%	-1.9%	-2.0%	-1.4%	-76.3%	-80.1%	-95.6%	-95.8%	-1.1%	-1.2%	-57.8%	-87.5%	-87.50%
ROCE	-5.3%	-12.2%	-20.4%	-30.4%	-33.1%	-31.2%	-33.5%	-35.5%	-37.1%	-37.2%	-41.0%	-29.6%	-30.3%	-32.6%	-33.7%	-32.5%	-33.0%	-34.3%	-63.0%	-71.5%	-71.54%
Gross Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Operating Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE 3Y Avg	snapshot only																				-49.64%
ROE 5Y Avg	snapshot only																				-50.30%
ROA 3Y Avg	snapshot only																				-41.64%
ROIC 3Y Avg	snapshot only																				-69.61%
ROIC Economic	snapshot only																				-29.67%
Cash ROA	snapshot only																				-22.53%
Cash ROIC	snapshot only																				-71.11%
CROIC	snapshot only																				-71.15%

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	-55.85	-24.19	-9.09	-4.51	-6.83	-2.26	-1.88	-1.76	-1.29	-2.57	-2.45	-3.25	-4.84	-4.39	-2.46	-2.81	-4.84	-8.47	-17.77	-19.86	-15.516
P/S Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.000
P/B Ratio	5.33	4.06	2.42	1.69	2.58	1.33	1.16	1.14	0.87	1.01	1.08	1.14	1.71	1.68	0.97	0.97	1.78	3.24	12.51	15.76	12.682
P/FCF	-92.24	-32.94	-11.50	-5.53	-7.93	-4.67	-4.01	-3.88	-2.81	-3.12	-2.86	-4.60	-7.02	-6.48	-3.60	-3.63	-6.28	-11.03	-53.89	-58.15	-58.153
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	-78.97	-25.36	-7.26	-2.57	-4.70	-1.18	-0.82	-1.07	-0.40	-0.48	-0.59	-1.10	-3.43	-3.09	-0.92	-0.82	-3.00	-6.72	-17.45	-19.28	-19.275
EV/Revenue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBIT	-78.41	-25.13	-7.19	-2.54	-4.63	-1.16	-0.80	-1.04	-0.39	-0.47	-0.57	-1.07	-3.34	-3.02	-0.89	-0.80	-2.93	-6.56	-17.26	-19.08	-19.078
EV/FCF	-75.52	-25.90	-7.44	-2.69	-5.39	-1.44	-1.05	-1.45	-0.54	-0.63	-0.73	-1.43	-4.60	-4.23	-1.25	-1.10	-3.84	-8.64	-51.73	-55.87	-55.869
Earnings Yield	-1.8%	-4.1%	-11.0%	-22.2%	-14.6%	-44.2%	-53.2%	-56.9%	-77.8%	-38.9%	-40.7%	-30.8%	-20.6%	-22.8%	-40.6%	-35.6%	-20.6%	-11.8%	-5.6%	-5.0%	-5.04%
FCF Yield	-1.1%	-3.0%	-8.7%	-18.1%	-12.6%	-21.4%	-24.9%	-25.8%	-35.5%	-32.1%	-34.9%	-21.7%	-14.2%	-15.4%	-27.8%	-27.6%	-15.9%	-9.1%	-1.9%	-1.7%	-1.72%
PEG Ratio	snapshot only																				0.139
Price/Tangible Book	snapshot only																				15.762
Shareholder Yield	snapshot only																				0.00%

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	25.13	16.02	18.86	17.09	13.21	9.13	15.59	13.90	11.45	12.26	10.14	16.79	11.00	9.84	12.35	11.04	10.45	10.04	9.52	8.29	8.294
Quick Ratio	25.13	16.02	18.86	17.09	13.21	9.13	15.59	13.90	11.45	12.26	10.14	16.79	11.00	9.84	12.35	11.04	10.45	10.04	9.52	8.29	8.294
Debt/Equity	0.04	0.04	0.07	0.07	0.15	0.13	0.15	0.16	0.17	0.18	0.23	0.12	0.12	0.12	0.13	0.13	0.14	0.14	0.12	0.12	0.124
Net Debt/Equity	-0.97	-0.87	-0.86	-0.87	-0.83	-0.92	-0.86	-0.72	-0.71	-0.81	-0.80	-0.79	-0.59	-0.58	-0.64	-0.67	-0.69	-0.70	-0.50	-0.62	-0.619
Debt/Assets	0.04	0.04	0.06	0.06	0.12	0.11	0.12	0.13	0.14	0.14	0.18	0.10	0.10	0.10	0.11	0.11	0.11	0.12	0.10	0.10	0.103
Debt/EBITDA	-0.76	-0.33	-0.32	-0.22	-0.40	-0.39	-0.40	-0.40	-0.40	-0.42	-0.49	-0.37	-0.36	-0.35	-0.35	-0.37	-0.38	-0.38	-0.17	-0.16	-0.157
Net Debt/EBITDA	17.48	6.89	3.97	2.71	2.21	2.66	2.29	1.80	1.69	1.92	1.71	2.45	1.81	1.64	1.73	1.90	1.91	1.86	0.73	0.79	0.788
Interest Coverage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity Multiplier	1.08	1.10	1.12	1.13	1.22	1.25	1.21	1.21	1.24	1.25	1.28	1.17	1.18	1.19	1.18	1.20	1.21	1.22	1.17	1.20	1.202
Cash Ratio	snapshot only																				8.005
Cash to Debt	snapshot only																				6.010
FCF to Debt	snapshot only																				-2.194
Defensive Interval	snapshot only																				648.7 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	0.00	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
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	—	—	—	—	—	—	—	—	—	—	0.00	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Payables Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.08	0.65	0.81	0.64	1.48	0.34	0.44	0.31	1.03	0.66	0.80	0.796
DSO	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DIO	—	—	—	—	—	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	—	—	—	—	—	—	—	—	—	4853	563	449	574	246	1074	835	1192	356	551	459	458.7 days
Cash Conversion Cycle	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Fixed Asset Turnover	snapshot only																				0.000
Cash Velocity	snapshot only																				0.000

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income	—	—	—	—	-2.0%	-2.2%	-1.1%	-58.6%	-67.1%	48.5%	47.0%	32.9%	31.0%	-29.3%	-24.2%	19.0%	19.8%	23.0%	-75.8%	-1.2%	-1.24%
EPS	—	—	—	—	-2.0%	-2.0%	-69.4%	-27.1%	-34.1%	56.4%	47.6%	53.7%	63.2%	31.1%	33.7%	37.7%	20.1%	23.1%	-63.6%	-1.0%	-1.04%
FCF	—	—	—	—	-3.3%	-1.1%	-25.6%	11.8%	11.4%	12.6%	3.1%	-4.7%	-4.2%	-6.3%	0.8%	11.2%	10.3%	12.7%	15.3%	1.1%	1.12%
EBITDA	—	—	—	—	-4.1%	-1.5%	-58.3%	-13.9%	-4.1%	6.4%	6.6%	0.0%	-3.6%	-12.1%	-8.4%	8.3%	14.4%	18.0%	-84.5%	-1.1%	-1.15%
Op. Income	—	—	—	—	-2.0%	-2.2%	-1.2%	-65.9%	-75.0%	42.8%	42.2%	29.4%	27.7%	-26.9%	-23.0%	16.2%	19.0%	21.5%	18.8%	-4.1%	-4.07%
OCF Growth	snapshot only																				1.06%
Asset Growth	snapshot only																				-2.32%
Equity Growth	snapshot only																				-2.79%
Debt Growth	snapshot only																				-9.53%
Shares Change	snapshot only																				9.87%

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	—	—	—	—	—	—	—	—	0.4%	0.1%	-0.3%	0.0%	-2.0%	-8.4%	-0.5%	-0.4%	-0.43%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity 3Y	—	—	—	—	—	—	—	—	—	—	—	—	-2.3%	-2.5%	-2.0%	-2.0%	-1.6%	-7.6%	0.6%	-0.1%	-0.08%
Book Value 3Y	—	—	—	—	—	—	—	—	—	—	—	—	-26.3%	-27.0%	-26.5%	-26.3%	-26.0%	-29.2%	-20.6%	-21.7%	-21.66%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

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	—	—	—	—	—	—	—	—	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
Earnings Stability	—	—	—	—	—	—	—	—	1.00	0.08	0.01	0.01	0.54	0.06	0.00	0.14	0.19	0.00	0.29	0.16	0.160
Margin Stability	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Rev. Growth Consistency	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
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.00	0.00	1.00	1.00	0.50	0.00	0.00	0.000
FCF Positive Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	—	—	—	—	0.50	0.81	0.81	0.87	0.88	0.88	0.90	0.92	0.92	0.91	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	—	—	—	—	—	—	—	—	-0.44	-0.02	0.00	0.16	0.18	0.11	0.14	0.16	0.15	0.01	-0.29	-0.45	-0.446
Gross Margin Trend	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Margin Trend	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

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	0.50	0.60	0.63	0.66	0.72	0.43	0.43	0.44	0.45	0.81	0.85	0.70	0.69	0.68	0.68	0.77	0.77	0.77	0.33	0.34	0.341
FCF/OCF	1.20	1.23	1.25	1.23	1.20	1.14	1.08	1.04	1.02	1.02	1.01	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.001
FCF/Net Income	snapshot only																				0.341
CapEx/Revenue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
CapEx/Depreciation	snapshot only																				0.020
Accruals Ratio	-0.04	-0.06	-0.09	-0.11	-0.08	-0.27	-0.29	-0.30	-0.30	-0.05	-0.04	-0.10	-0.10	-0.12	-0.12	-0.06	-0.06	-0.06	-0.40	-0.43	-0.430
Sloan Accruals	snapshot only																				-0.092
Cash Flow Adequacy	snapshot only																				-1661.390

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
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%	0.0%	0.0%	0.00%
Net Buyback Yield	-12.3%	-17.2%	-31.1%	-47.8%	-0.3%	-17.7%	-21.5%	-23.3%	-32.4%	-0.4%	-2.6%	-42.6%	-31.1%	-33.8%	-60.0%	-6.1%	-0.2%	-0.1%	-5.0%	-4.4%	-4.36%
Total Shareholder Return	-12.3%	-17.2%	-31.1%	-47.8%	-0.3%	-17.7%	-21.5%	-23.3%	-32.4%	-0.4%	-2.6%	-42.6%	-31.1%	-33.8%	-60.0%	-6.1%	-0.2%	-0.1%	-5.0%	-4.4%	-4.36%

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)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Interest Burden (EBT/EBIT)	1.71	1.32	1.22	1.16	1.00	1.67	1.62	1.59	1.58	0.91	0.91	1.07	1.05	1.05	1.05	0.95	0.99	0.99	1.01	1.00	1.000
EBIT Margin	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Asset Turnover	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
Equity Multiplier	1.08	1.10	1.12	1.13	1.14	1.17	1.16	1.17	1.23	1.25	1.24	1.19	1.20	1.21	1.22	1.18	1.19	1.20	1.18	1.20	1.199

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)	$-0.38	$-0.64	$-0.95	$-1.24	$-1.14	$-1.90	$-1.60	$-1.57	$-1.53	$-0.83	$-0.84	$-0.73	$-0.56	$-0.57	$-0.56	$-0.45	$-0.45	$-0.44	$-0.91	$-0.92	$-0.92
Book Value/Share	$3.98	$3.84	$3.55	$3.29	$3.02	$3.23	$2.58	$2.42	$2.25	$2.10	$1.91	$2.07	$1.59	$1.50	$1.41	$1.31	$1.23	$1.15	$1.29	$1.16	$1.16
Tangible Book/Share	$3.98	$3.84	$3.55	$3.29	$3.02	$3.23	$2.58	$2.42	$2.25	$2.10	$1.91	$2.07	$1.59	$1.50	$1.41	$1.31	$1.23	$1.15	$1.29	$1.16	$1.16
Revenue/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
FCF/Share	$-0.23	$-0.47	$-0.75	$-1.01	$-0.98	$-0.92	$-0.75	$-0.71	$-0.70	$-0.68	$-0.72	$-0.51	$-0.39	$-0.39	$-0.38	$-0.35	$-0.35	$-0.34	$-0.30	$-0.32	$-0.32
OCF/Share	$-0.19	$-0.38	$-0.60	$-0.82	$-0.82	$-0.81	$-0.69	$-0.68	$-0.68	$-0.67	$-0.72	$-0.51	$-0.39	$-0.39	$-0.38	$-0.35	$-0.35	$-0.34	$-0.30	$-0.31	$-0.31
Cash/Share	$4.01	$3.49	$3.29	$3.09	$2.95	$3.42	$2.61	$2.11	$1.97	$2.07	$1.97	$1.88	$1.13	$1.05	$1.08	$1.06	$1.02	$0.97	$0.80	$0.86	$0.86
EBITDA/Share	$-0.22	$-0.48	$-0.77	$-1.06	$-1.13	$-1.12	$-0.97	$-0.96	$-0.94	$-0.89	$-0.90	$-0.66	$-0.52	$-0.53	$-0.52	$-0.47	$-0.44	$-0.43	$-0.89	$-0.91	$-0.91
Debt/Share	$0.17	$0.16	$0.25	$0.23	$0.45	$0.43	$0.39	$0.38	$0.38	$0.37	$0.44	$0.25	$0.19	$0.18	$0.18	$0.17	$0.17	$0.17	$0.15	$0.14	$0.14
Net Debt/Share	$-3.85	$-3.33	$-3.04	$-2.86	$-2.50	$-2.98	$-2.22	$-1.73	$-1.59	$-1.70	$-1.53	$-1.63	$-0.94	$-0.87	$-0.90	$-0.89	$-0.85	$-0.81	$-0.65	$-0.72	$-0.72

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	41.655
Altman Z-Prime	snapshot only																				72.697
Piotroski F-Score	2	2	2	2	2	1	1	1	1	3	2	4	3	2	3	2	2	3	2	2	2
Beneish M-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Ohlson O-Score	snapshot only																				-4.697
ROIC (Greenblatt)	snapshot only																				-1.01%
Net-Net WC	snapshot only																				$0.66
EVA	snapshot only																				$-134401700.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				A+
Credit Score	72.98	74.13	74.73	75.63	75.61	59.85	53.64	48.99	44.50	49.74	43.25	59.80	73.45	64.75	49.64	49.41	59.28	75.71	75.74	75.70	75.703
Credit Grade	snapshot only																				5
Credit Trend	snapshot only																				26.288
Implied Spread (bps)	snapshot only																				125.000
Industry Credit Rank	snapshot only																				76
Sector Credit Rank	snapshot only																				71

ERAS NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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