— Know what they know.
Not Investment Advice
Also trades as: EVO.ST (STO) · $vol 60M · EVVTY (OTC) · $vol 2M · E3G1.SG (STU) · $vol 0M

EVGGF OTC

Evolution AB (publ)
1W: -4.3% 1M: -8.5% 3M: +13.6% YTD: +15.4% 1Y: -2.6% 3Y: -27.7% 5Y: -47.1%
$78.84
+1.23 (+1.58%)
 
Weekly Expected Move ±4.2%
$72 $76 $79 $82 $85
OTC · Consumer Cyclical · Gambling, Resorts & Casinos · Tech Score Sell · Power 44 · $15.0B mcap · 106M float · 0.0006% daily turnover · Short 80% of daily vol

Analyst Insights

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

Analyst Price Targets
Analyst Recommendations
Strong Buy: 0Buy: 0Hold: 1Sell: 0Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$—
Analysts0

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

A
Oct 02, 2026
DCF
4
ROE
5
ROA
5
D/E
2
P/E
4
P/B
2
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. EVGGF receives an overall rating of A. Strongest factors: DCF (4/5), ROE (5/5), ROA (5/5), P/E (4/5). Areas of concern: D/E (2/5), P/B (2/5).
Rating Change History
DateFromTo
2026-10-02 A+ A
2026-08-19 A A+
2026-08-18 A+ A
2026-06-30 None ADDED
2026-06-29 EXISTED None
2026-06-22 None ADDED
2026-06-22 EXISTED None
2026-06-16 None ADDED
2026-06-15 EXISTED None
2026-06-08 None ADDED

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
97
Balance Sheet
90
Earnings Quality
65
Growth
38
Value
—
Momentum
66
Safety
—
Cash Flow
88

Risk & Quality Signals

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

Altman Z-Score
—
—
Piotroski F-Score
7/9
✓ ✓ ✗ ✓ ✓ ✓ ✓ ✗ ✓
Beneish M-Score
-1.38
Possible Manipulator
Ohlson O-Score
-11.70
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AA-
Score: 80.2/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 1.23x
Accruals: -4.7%
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. EVGGF 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. EVGGF's score of -1.38 exceeds the −1.78 red flag threshold — this does not confirm manipulation but indicates the earnings profile resembles past manipulators statistically. 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. EVGGF'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. EVGGF receives an estimated rating of AA- (score: 80.2/100), 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). EVGGF'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
13.35x
PEG
-1.45x
P/S
6.43x
P/B
3.30x
P/FCF
—
P/OCF
—
EV/EBITDA
—
EV/Revenue
—
EV/EBIT
—
EV/FCF
—
Earnings Yield
—
FCF Yield
—
Shareholder Yield
—
Graham Number
$50.77
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 13.4x earnings, EVGGF trades at a reasonable valuation. Graham's intrinsic value formula yields $50.77 per share, 55% below the current price.

DuPont Decomposition (5-Factor)

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

Tax Burden
0.852
NI / EBT
×
Interest Burden
1.052
EBT / EBIT
×
EBIT Margin
0.524
EBIT / Rev
×
Asset Turnover
0.434
Rev / Assets
×
Equity Multiplier
1.309
Assets / Equity
=
ROE
26.7%
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. EVGGF's ROE of 26.7% is driven by EBIT Margin (0.524) as the dominant factor.

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
6.71%
Fair P/E
21.93x
Intrinsic Value
$117.77
Price/Value
—
Margin of Safety
—
Premium
—
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with EVGGF's realized 6.7% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. EVGGF trades at a premium to its adjusted intrinsic value of $117.77, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 21.9x compares to the current market P/E of 13.4x.

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 1664 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price
$78.84
Median 1Y
$79.83
5th Pctile
$33.27
95th Pctile
$191.04
Ann. Volatility
52.9%
25th–75th percentile 5th–95th percentile Median path Historical
All Ratios & Metrics

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

Profitability
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
ROE 28.8% 20.5% 21.9% 23.8% 24.4% 25.4% 25.7% 29.4% 28.7% 28.7% 28.6% 30.9% 30.6% 31.2% 30.3% 32.7% 29.8% 26.5% 25.0% 26.7% 26.70%
ROA 22.6% 17.1% 18.4% 20.0% 19.4% 20.4% 20.7% 23.7% 22.8% 22.9% 22.5% 24.1% 23.8% 24.1% 22.9% 24.8% 22.3% 19.6% 18.4% 20.4% 20.39%
ROIC 18.3% 21.6% 23.0% 24.9% 25.5% 28.1% 30.1% 32.6% 33.5% 34.6% 35.5% 35.6% 36.1% 37.5% 36.8% 36.5% 35.0% 30.1% 30.8% 31.8% 31.81%
ROCE 15.8% 18.4% 19.7% 22.4% 22.2% 23.1% 23.5% 26.8% 26.3% 26.1% 27.5% 30.1% 30.4% 29.9% 28.3% 31.5% 31.1% 28.4% 26.8% 27.0% 27.04%
Gross Margin 62.2% 62.2% 63.2% 63.4% 63.5% 62.3% 63.5% 64.9% 62.9% 63.7% 63.0% 61.2% 1.0% 1.0% 1.0% 1.0% 1.0% 1.1% 70.4% 57.5% 57.51%
Operating Margin 62.3% 61.5% 63.4% 62.4% 62.4% 61.4% 63.2% 63.8% 63.4% 63.7% 62.1% 61.2% 73.0% 78.2% 58.2% 58.4% 58.5% 58.2% 40.2% 57.5% 57.51%
Net Margin 57.0% 57.1% 60.5% 58.4% 58.5% 54.8% 58.5% 59.9% 60.3% 58.0% 53.7% 52.5% 63.3% 70.6% 48.9% 47.4% 49.8% 60.2% 34.6% 48.6% 48.56%
EBITDA Margin 69.9% 67.5% 70.3% 69.3% 69.0% 69.2% 69.9% 70.7% 70.4% 69.1% 69.0% 67.4% 68.5% 68.1% 65.6% 65.9% 66.6% 67.0% 46.0% 65.9% 65.85%
FCF Margin 49.8% 50.4% 53.7% 53.9% 52.2% 53.6% 55.3% 55.1% 59.1% 59.9% 58.2% 59.7% 57.8% 56.4% 58.9% 54.3% 56.2% 56.0% 50.2% 54.0% 53.96%
OCF Margin 55.0% 56.0% 59.6% 60.3% 59.0% 60.3% 61.6% 60.9% 64.4% 65.2% 64.0% 65.8% 64.3% 63.1% 65.3% 60.7% 61.7% 60.9% 54.6% 57.8% 57.78%
ROE 3Y Avg snapshot only 29.16%
ROE 5Y Avg snapshot only 27.78%
ROA 3Y Avg snapshot only 22.27%
ROIC 3Y Avg snapshot only 35.37%
ROIC Economic snapshot only 23.57%
Cash ROA snapshot only 23.99%
Cash ROIC snapshot only 41.38%
CROIC snapshot only 38.64%
NOPAT Margin snapshot only 44.42%
Pretax Margin snapshot only 55.14%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 5.21%
SBC / Revenue snapshot only 0.00%
Valuation
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
P/E Ratio — — — — — — — — — — — — — — — — — — — — 13.353
P/S Ratio — — — — — — — — — — — — — — — — — — — — 6.431
P/B Ratio — — — — — — — — — — — — — — — — — — — — 3.300
P/FCF — — — — — — — — — — — — — — — — — — — — —
P/OCF — — — — — — — — — — — — — — — — — — — — —
EV/EBITDA — — — — — — — — — — — — — — — — — — — — —
EV/Revenue — — — — — — — — — — — — — — — — — — — — —
EV/EBIT — — — — — — — — — — — — — — — — — — — — —
EV/FCF — — — — — — — — — — — — — — — — — — — — —
Earnings Yield — — — — — — — — — — — — — — — — — — — — —
FCF Yield — — — — — — — — — — — — — — — — — — — — —
Graham Number snapshot only $50.77
Leverage & Solvency
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Current Ratio 1.92 2.19 2.44 2.24 2.12 2.60 2.84 2.94 2.92 3.07 2.64 2.19 1.92 1.82 1.81 1.62 1.48 1.66 1.77 2.04 2.037
Quick Ratio 1.92 2.18 2.44 2.24 2.12 2.59 2.83 2.94 2.89 3.06 2.61 2.19 1.92 1.82 1.81 1.62 1.48 1.66 1.77 2.04 2.037
Debt/Equity 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.04 0.02 0.02 0.021
Net Debt/Equity -0.10 -0.11 -0.11 -0.07 -0.07 -0.13 -0.18 -0.13 -0.19 -0.23 -0.22 -0.17 -0.15 -0.17 -0.21 -0.11 -0.15 -0.16 -0.23 -0.25 -0.251
Debt/Assets 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.02 0.03 0.02 0.02 0.016
Debt/EBITDA 0.11 0.09 0.08 0.08 0.07 0.08 0.07 0.07 0.07 0.06 0.06 0.06 0.06 0.07 0.07 0.06 0.06 0.12 0.06 0.07 0.066
Net Debt/EBITDA -0.52 -0.48 -0.47 -0.24 -0.25 -0.45 -0.63 -0.39 -0.59 -0.72 -0.67 -0.45 -0.42 -0.49 -0.61 -0.29 -0.41 -0.48 -0.73 -0.78 -0.782
Interest Coverage 78.75 104.53 135.86 305.75 — 97.90 91.01 97.26 101.24 773.58 15121.47 8803.20 1174.67 1186.59 544.41 88.83 93.98 92.11 100.86 — —
Equity Multiplier 1.24 1.22 1.22 1.22 1.27 1.26 1.27 1.25 1.25 1.24 1.28 1.30 1.32 1.35 1.36 1.33 1.35 1.35 1.36 1.29 1.292
Cash Ratio snapshot only 1.081
Cash to Debt snapshot only 12.788
FCF to Debt snapshot only 13.583
Defensive Interval snapshot only 1102.0 days
Efficiency & Turnover
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Asset Turnover 0.42 0.30 0.32 0.34 0.33 0.35 0.36 0.41 0.39 0.39 0.39 0.43 0.42 0.40 0.39 0.43 0.41 0.38 0.39 0.43 0.434
Inventory Turnover 265.42 127.46 — 4911723.13 644.71 96.01 562.36 — 72.88 88.39 75.99 — 64.64 107.23 24.88 — — — — — —
Receivables Turnover 7.28 6.50 6.03 6.01 6.06 5.88 5.97 5.90 5.85 5.70 5.50 5.80 5.94 5.46 5.30 5.36 5.55 4.84 5.48 5.44 5.436
Payables Turnover 35.42 26.65 41.97 37.50 53.29 57.66 52.25 39.78 63.06 56.72 60.86 50.65 48.58 26.41 12.10 0.00 0.00 -4.27 9.57 28.64 28.642
DSO 50 56 61 61 60 62 61 62 62 64 66 63 61 67 69 68 66 75 67 67 67.1 days
DIO 1 3 0 0 1 4 1 0 5 4 5 0 6 3 15 — — — 0 0 0.0 days
DPO 10 14 9 10 7 6 7 9 6 6 6 7 8 14 30 — — — 38 13 12.7 days
Cash Conversion Cycle 41 45 52 51 54 60 55 53 62 62 65 56 60 56 53 — — — 28 54 54.4 days
Fixed Asset Turnover snapshot only 8.005
Cash Velocity snapshot only 1.968
Capital Intensity snapshot only 2.409
Growth (YoY)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 1.5% 90.5% 70.1% 53.9% 42.6% 36.3% 34.5% 32.9% 28.3% 24.3% 20.7% 18.0% 16.8% 14.2% 10.8% 7.4% 3.2% -0.1% 9.0% 7.5% 7.51%
Net Income 1.5% 1.1% 85.1% 66.7% 53.8% 39.3% 33.6% 32.0% 27.8% 27.0% 21.4% 13.9% 13.7% 16.2% 12.9% 10.5% -1.5% -14.4% -13.6% -12.4% -12.35%
EPS 1.1% 88.7% 85.7% 70.7% 58.0% 42.8% 33.1% 31.9% 28.4% 28.0% 24.0% 17.3% 17.4% 21.1% 17.5% 14.3% 1.8% -11.5% -10.5% -9.4% -9.38%
FCF 1.5% 92.9% 84.9% 84.2% 49.5% 45.0% 38.5% 35.8% 45.2% 38.9% 26.9% 27.9% 14.2% 7.5% 12.2% -2.4% 0.4% -0.8% -7.2% 6.9% 6.90%
EBITDA 1.6% 1.2% 86.8% 65.5% 49.3% 38.4% 35.2% 33.7% 30.1% 25.4% 21.4% 16.7% 14.2% 11.3% 7.1% 4.4% 0.3% -2.9% -3.1% -4.0% -3.96%
Op. Income 1.6% 1.2% 87.2% 67.0% 52.0% 38.8% 35.2% 33.6% 29.4% 26.7% 22.4% 17.7% 20.6% 23.6% 18.8% 15.0% 0.7% -15.2% -15.5% -16.1% -16.14%
OCF Growth snapshot only 2.40%
Asset Growth snapshot only 9.72%
Equity Growth snapshot only 12.82%
Debt Growth snapshot only -0.29%
Shares Change snapshot only -3.28%
Dividend Growth snapshot only -99.70%
Growth (CAGR)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 3Y — — — — — — 1.4% 89.5% 65.3% 47.8% 40.3% 34.1% 28.8% 24.6% 21.6% 18.9% 15.6% 12.4% 13.4% 10.8% 10.84%
Revenue 5Y — — — — — — — — — — — — — — 78.5% 53.8% 40.3% 29.8% 27.2% 22.7% 22.73%
EPS 3Y — — — — — — 1.4% 87.9% 62.5% 51.1% 45.3% 38.2% 33.5% 30.3% 24.7% 20.9% 15.3% 11.1% 9.3% 6.7% 6.71%
EPS 5Y — — — — — — — — — — — — — — 82.3% 54.8% 38.7% 29.9% 26.4% 22.3% 22.30%
Net Income 3Y — — — — — — 1.5% 97.5% 70.5% 55.5% 44.3% 35.8% 30.7% 27.1% 22.4% 18.4% 12.7% 8.1% 5.8% 3.3% 3.34%
Net Income 5Y — — — — — — — — — — — — — — 86.7% 57.5% 40.9% 30.2% 24.0% 19.4% 19.41%
EBITDA 3Y — — — — — — 1.6% 99.6% 72.6% 56.2% 45.3% 37.2% 30.4% 24.5% 20.7% 17.7% 14.2% 10.6% 8.0% 5.4% 5.36%
EBITDA 5Y — — — — — — — — — — — — — — 85.5% 57.5% 42.5% 32.7% 26.0% 21.0% 20.95%
Gross Profit 3Y — — — — — — 1.0% 62.9% 42.0% 27.2% 20.6% 20.0% 25.4% 30.9% 37.9% 38.9% 34.8% 32.2% 29.0% 21.4% 21.38%
Gross Profit 5Y — — — — — — — — — — — — — — 75.0% 53.8% 40.3% 30.5% 25.4% 21.6% 21.56%
Op. Income 3Y — — — — — — 1.6% 99.3% 71.8% 56.6% 45.8% 37.9% 33.4% 29.6% 25.3% 21.8% 16.3% 9.9% 7.1% 4.3% 4.31%
Op. Income 5Y — — — — — — — — — — — — — — 90.0% 60.7% 43.9% 32.1% 25.5% 20.4% 20.42%
FCF 3Y — — — — — — 2.0% 98.9% 75.1% 57.2% 48.1% 47.4% 35.3% 29.4% 25.4% 19.2% 18.5% 14.0% 9.8% 10.1% 10.08%
FCF 5Y — — — — — — — — — — — — — — 1.1% 57.9% 43.8% 32.9% 27.6% 27.3% 27.26%
OCF 3Y — — — — — — 1.9% 97.1% 72.7% 55.1% 46.9% 46.2% 35.7% 29.6% 25.4% 19.2% 17.4% 12.7% 8.9% 8.9% 8.92%
OCF 5Y — — — — — — — — — — — — — — 1.0% 57.4% 42.9% 31.8% 26.7% 25.9% 25.94%
Assets 3Y — — — — — — 1.1% 1.1% 98.1% 16.2% 15.5% 11.1% 8.1% 11.1% 12.4% 9.2% 7.2% 8.0% 7.9% 8.2% 8.24%
Assets 5Y — — — — — — — — — — — — — — 64.5% 58.7% 53.8% 11.7% 12.4% 9.3% 9.29%
Equity 3Y — — — — — — 1.2% 1.2% 1.1% 13.7% 11.6% 6.8% 5.9% 7.6% 8.3% 6.2% 4.9% 5.5% 5.4% 7.2% 7.18%
Book Value 3Y — — — — — — 1.1% 1.1% 1.0% 10.4% 12.4% 8.7% 8.1% 10.3% 10.4% 8.4% 7.4% 8.5% 8.8% 10.7% 10.68%
Dividend 3Y — — — — — — 20.9% 5.5% 6.0% 7.5% 11.4% 12.8% 12.7% 13.2% 12.5% 2.6% 3.1% 3.5% 4.0% -85.2% -85.22%
Growth Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue Stability — — 1.00 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.97 0.96 0.95 0.93 0.96 0.94 0.943
Earnings Stability — — 1.00 1.00 1.00 0.99 0.99 1.00 0.99 0.99 0.99 0.98 0.98 0.99 0.98 0.96 0.92 0.83 0.81 0.78 0.776
Margin Stability — — 0.75 0.77 0.77 0.75 0.73 0.77 0.77 0.76 0.74 0.82 0.89 0.88 0.76 0.74 0.76 0.77 0.79 0.80 0.797
Rev. Growth Consistency 0.50 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 1.00 1.00 1.000
Earn. Growth Consistency 0.50 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.000
FCF Positive Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence — — 0.50 0.50 0.50 0.84 0.87 0.87 0.89 0.89 0.91 0.94 0.95 0.94 0.95 0.96 0.99 0.94 0.95 0.95 0.951
Earnings Smoothness 0.14 0.28 0.40 0.50 0.58 0.67 0.71 0.72 0.76 0.76 0.81 0.87 0.87 0.85 0.88 0.90 0.98 0.84 0.85 0.87 0.868
ROE Trend — — 0.06 -0.03 -0.10 0.10 0.08 0.09 0.07 0.05 0.05 0.04 0.05 0.06 0.03 0.03 0.01 -0.03 -0.04 -0.06 -0.060
Gross Margin Trend — — -0.38 -0.31 -0.26 -0.22 -0.18 -0.12 -0.07 -0.03 0.01 -0.00 0.09 0.18 0.27 0.37 0.32 0.30 0.16 0.02 0.021
FCF Margin Trend — — 0.16 0.08 0.02 0.04 0.04 0.06 0.08 0.08 0.04 0.05 0.02 -0.00 0.02 -0.03 -0.02 -0.02 -0.08 -0.03 -0.030
Sustainable Growth Rate 20.7% 15.6% 17.2% 13.9% 15.1% 16.1% 16.9% 16.7% 16.9% 17.6% 17.7% 15.0% 15.7% 17.2% 16.5% 17.2% 14.7% 12.3% 11.6% 26.7% 26.66%
Internal Growth Rate 19.4% 15.0% 16.9% 13.2% 13.6% 14.9% 15.8% 15.6% 15.5% 16.3% 16.1% 13.2% 13.9% 15.3% 14.3% 15.0% 12.4% 10.0% 9.3% 25.6% 25.57%
Cash Flow Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
OCF/Net Income 1.01 0.99 1.03 1.03 1.01 1.04 1.07 1.05 1.10 1.10 1.11 1.18 1.13 1.05 1.11 1.05 1.14 1.18 1.17 1.23 1.231
FCF/OCF 0.91 0.90 0.90 0.89 0.89 0.89 0.90 0.90 0.92 0.92 0.91 0.91 0.90 0.89 0.90 0.89 0.91 0.92 0.92 0.93 0.934
FCF/Net Income snapshot only 1.149
OCF/EBITDA snapshot only 0.965
CapEx/Revenue 5.2% 5.6% 5.9% 6.5% 6.8% 6.7% 6.3% 5.8% 5.3% 5.3% 5.8% 6.1% 6.6% 6.6% 6.4% 6.4% 5.6% 4.8% 4.4% 3.8% 3.83%
CapEx/Depreciation snapshot only 0.514
Accruals Ratio -0.00 0.00 -0.01 -0.01 -0.00 -0.01 -0.01 -0.01 -0.02 -0.02 -0.02 -0.04 -0.03 -0.01 -0.02 -0.01 -0.03 -0.04 -0.03 -0.05 -0.047
Sloan Accruals snapshot only 0.063
Cash Flow Adequacy snapshot only 14.810
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Dividend Yield — — — — — — — — — — — — — — — — — — — — 0.00%
Dividend/Share $0.65 $0.65 $0.66 $1.40 $1.40 $1.41 $1.40 $1.90 $1.93 $1.93 $1.93 $2.67 $2.68 $2.71 $2.71 $2.81 $2.83 $2.86 $2.87 $0.01 $0.00
Payout Ratio 28.1% 23.9% 21.6% 41.7% 38.3% 36.3% 34.2% 43.1% 41.2% 38.8% 38.1% 51.6% 48.8% 44.9% 45.4% 47.4% 50.6% 53.6% 53.8% 0.2% 0.16%
FCF Payout Ratio 30.7% 26.9% 23.2% 45.1% 43.0% 39.3% 35.5% 45.3% 40.8% 38.3% 37.9% 48.3% 48.0% 47.9% 45.5% 50.3% 48.9% 49.3% 50.0% 0.1% 0.14%
Total Payout Ratio 28.7% 44.3% 51.2% 69.0% 63.4% 45.3% 34.2% 43.1% 41.2% 49.6% 74.9% 88.1% 1.0% 99.4% 90.0% 98.1% 99.8% 1.0% 86.4% 54.4% 54.42%
Div. Increase Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0
Chowder Number — — — — — — — — — — — — — — — — — — — — —
Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Net Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Total Shareholder Return — — — — — — — — — — — — — — — — — — — — —
DuPont Factors
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Tax Burden (NI/EBT) 0.94 0.94 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.93 0.90 0.88 0.87 0.86 0.86 0.86 0.86 0.85 0.85 0.85 0.852
Interest Burden (EBT/EBIT) 0.99 1.00 1.00 1.01 1.01 0.99 0.99 0.99 0.99 1.00 1.01 1.01 1.06 1.14 1.13 1.12 1.07 1.03 1.04 1.05 1.052
EBIT Margin 0.59 0.61 0.62 0.62 0.62 0.63 0.63 0.63 0.63 0.64 0.63 0.63 0.62 0.61 0.60 0.60 0.59 0.58 0.53 0.52 0.524
Asset Turnover 0.42 0.30 0.32 0.34 0.33 0.35 0.36 0.41 0.39 0.39 0.39 0.43 0.42 0.40 0.39 0.43 0.41 0.38 0.39 0.43 0.434
Equity Multiplier 1.27 1.20 1.19 1.19 1.26 1.24 1.24 1.24 1.26 1.25 1.27 1.28 1.29 1.29 1.32 1.32 1.34 1.35 1.36 1.31 1.309
Per Share
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
EPS (Diluted TTM) $2.31 $2.72 $3.07 $3.35 $3.64 $3.88 $4.08 $4.42 $4.68 $4.97 $5.07 $5.18 $5.49 $6.02 $5.95 $5.93 $5.59 $5.33 $5.33 $5.37 $5.37
Book Value/Share $14.24 $14.34 $15.06 $14.36 $15.23 $15.94 $16.74 $15.73 $17.35 $18.61 $18.30 $17.34 $18.00 $19.23 $20.26 $18.28 $18.87 $20.34 $21.58 $21.33 $21.53
Tangible Book/Share $0.87 $1.10 $1.68 $1.26 $0.82 $1.85 $2.91 $2.23 $3.65 $4.49 $4.54 $3.17 $3.68 $4.86 $5.37 $3.55 $3.96 $5.11 $6.45 $6.30 $6.30
Revenue/Share $4.24 $4.80 $5.30 $5.74 $6.22 $6.71 $7.10 $7.63 $8.01 $8.41 $8.76 $9.26 $9.66 $10.01 $10.10 $10.29 $10.30 $10.34 $11.41 $11.44 $10.67
FCF/Share $2.11 $2.42 $2.85 $3.09 $3.24 $3.60 $3.93 $4.20 $4.73 $5.04 $5.09 $5.53 $5.58 $5.65 $5.95 $5.58 $5.79 $5.79 $5.73 $6.17 $6.18
OCF/Share $2.33 $2.69 $3.16 $3.46 $3.67 $4.04 $4.38 $4.64 $5.16 $5.48 $5.60 $6.10 $6.21 $6.31 $6.60 $6.24 $6.36 $6.29 $6.23 $6.61 $6.62
Cash/Share $1.76 $1.89 $2.01 $1.27 $1.38 $2.45 $3.46 $2.45 $3.71 $4.58 $4.46 $3.25 $3.17 $3.81 $4.64 $2.43 $3.24 $4.08 $5.46 $5.81 $5.86
EBITDA/Share $2.80 $3.28 $3.66 $3.98 $4.29 $4.66 $4.92 $5.32 $5.61 $5.89 $6.11 $6.38 $6.61 $6.83 $6.81 $6.90 $6.86 $6.85 $6.84 $6.85 $6.85
Debt/Share $0.31 $0.30 $0.30 $0.30 $0.32 $0.37 $0.36 $0.37 $0.37 $0.37 $0.37 $0.37 $0.39 $0.45 $0.45 $0.44 $0.43 $0.82 $0.44 $0.45 $0.45
Net Debt/Share $-1.44 $-1.59 $-1.71 $-0.97 $-1.07 $-2.09 $-3.10 $-2.08 $-3.34 $-4.21 $-4.09 $-2.87 $-2.78 $-3.36 $-4.19 $-1.99 $-2.81 $-3.26 $-5.01 $-5.36 $-5.36
Academic Models
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — —
Piotroski F-Score 4 5 8 9 9 8 7 7 7 9 7 7 8 7 7 7 5 5 6 7 7
Beneish M-Score 3.69 -1.45 -1.69 -2.15 -2.10 -2.19 -2.32 -2.29 -2.40 -2.38 -2.30 -2.53 -2.55 -2.40 -2.47 -2.22 -2.50 -0.87 -2.25 -1.38 -1.383
Ohlson O-Score snapshot only -11.703
ROIC (Greenblatt) snapshot only 85.61%
Net-Net WC snapshot only $4.72
EVA snapshot only $687086381.21
Credit
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Credit Rating snapshot only AA-
Credit Score 82.75 82.75 82.75 82.75 80.25 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 82.75 80.25 80.250
Credit Grade snapshot only 4
Credit Trend snapshot only -2.500
Implied Spread (bps) snapshot only 100.000

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