$5.05

-0.01 (-0.10%)

Weekly Expected Move ±9.4%

$4 $4 $5 $5 $6

NASDAQ · Real Estate · Real Estate - Services · Alpha Radar Strong Sell · Power 27 · $805.1M mcap · 93M float · 1.15% daily turnover · Short 50% 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.

WEAK EDGE

45.2 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: -13.2% · 5Y Avg: 6.8%

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. EXPI shows a Weak competitive edge (45.2/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. Negative ROIC of -13.2% 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

Low

$11

Avg Target

$12

High

Based on 3 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 3Hold: 2Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$11.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-02-26	D.A. Davidson	Tom White	$12	$11	-0	+49.8%	$7.34
2026-02-20	D.A. Davidson	Tom White	$12	$12	-0	+53.5%	$7.49
2025-07-11	D.A. Davidson	Tom White	$14	$12	-2	+16.7%	$10.28
2024-08-01	D.A. Davidson	Tom White	$22	$14	-8	-6.0%	$14.36
2022-08-04	D.A. Davidson	—	$28	$22	-6	+41.8%	$15.51
2022-06-24	D.A. Davidson	—	$34	$28	-6	+129.5%	$12.20
2022-05-05	D.A. Davidson	—	Initiated	$34	—	+113.2%	$15.95

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+

May 22, 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. EXPI receives an overall rating of C+. Strongest factors: DCF (5/5), D/E (4/5). Areas of concern: ROE (1/5), ROA (1/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-05-13	C	C+
2026-03-05	B-	C
2026-03-04	C	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.

★ ★ ★ ★ ★ 41 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

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. EXPI scores highest in Safety (100/100) and lowest in Profitability (2/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

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

Altman Z-Score

13.56

Safe Zone

Piotroski F-Score

4/9

✗ ✓ ✓ ✓ ✗ ✓ ✗ ✗ ✗

Beneish M-Score

-3.42

Unlikely Manipulator

Ohlson O-Score

-7.52

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

Score: 89.0/100

Trend: Stable

Earnings Quality

—

OCF/NI: -5.92x

Accruals: -27.9%

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. EXPI scores 13.56, 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. EXPI scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. EXPI's score of -3.42 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. EXPI's implied 0.1% 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. EXPI receives an estimated rating of AA (score: 89.0/100), with a stable 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

-48.78x

PEG

0.67x

P/S

0.17x

P/B

3.20x

P/FCF

10.84x

P/OCF

9.77x

EV/EBITDA

-62.07x

EV/Revenue

0.18x

EV/EBIT

-41.01x

EV/FCF

9.45x

Earnings Yield

-1.73%

FCF Yield

9.23%

Shareholder Yield

8.49%

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. EXPI 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

0.860

NI / EBT

Interest Burden

0.946

EBT / EBIT

EBIT Margin

-0.004

EBIT / Rev

Asset Turnover

11.577

Rev / Assets

Equity Multiplier

1.861

Assets / Equity

ROE

-7.5%

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. EXPI's ROE of -7.5% is driven by Asset Turnover (11.577), indicating efficient use of assets to generate revenue.

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.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Assessment

Overvalued

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

$5.06

Median 1Y

$4.05

5th Pctile

$1.33

95th Pctile

$12.58

Ann. Volatility

67.7%

Analyst Target

$11.00

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
Jesse Hill Financial ancial Officer and	$466,539	$380,944	$1,707,746
Glenn Sanford Chief Executive Officer and Chairman of the Board	$1,575,000	$—	$1,575,126
Leo Pareja Strategy rategy Officer, eXp Realty	$735,577	$325,004	$1,449,177
Wendy Forsythe Marketing keting Officer, eXp Realty	$473,269	$373,289	$1,051,975
James Bramble Legal Legal Counsel, General Counsel and Corporate Secretary	$473,712	$—	$730,494
Kent Cheng Accounting ef Accounting Officer and Financial Officer	$266,154	$—	$407,532

CEO Pay Ratio

10:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $1,575,126

Avg Employee Cost (SGA/emp): $155,630

Employees: 1,834

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

1,834

-8.3% YoY

Revenue / Employee

$2,602,132

Rev: $4,772,311,000

Profit / Employee

$-12,385

NI: $-22,714,000

SGA / Employee

$155,630

Avg labor cost proxy

R&D / Employee

$37,960

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	Q2'21	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	Current
ROE	66.7%	75.9%	44.7%	46.9%	31.7%	21.0%	6.6%	3.4%	3.4%	2.1%	-3.7%	-10.6%	-9.4%	-13.4%	-9.5%	-7.4%	-14.0%	-8.6%	-10.1%	-7.5%	-7.50%
ROA	38.1%	43.4%	24.8%	26.0%	17.5%	11.6%	3.9%	2.0%	2.0%	1.3%	-2.3%	-6.8%	-6.0%	-8.6%	-5.5%	-4.3%	-8.1%	-5.0%	-5.5%	-4.0%	-4.03%
ROIC	1.4%	1.6%	71.6%	77.1%	53.5%	37.2%	14.3%	4.6%	4.1%	4.5%	-7.6%	-19.8%	-16.0%	-24.1%	-16.4%	-9.7%	-27.8%	-17.1%	-14.3%	-13.2%	-13.25%
ROCE	30.6%	27.8%	15.0%	14.8%	12.7%	7.8%	2.1%	0.4%	0.8%	2.3%	-0.8%	-1.7%	0.6%	3.1%	9.7%	5.7%	-4.5%	-7.2%	-9.2%	-8.5%	-8.50%
Gross Margin	8.0%	7.2%	7.7%	8.3%	7.6%	7.5%	8.9%	8.4%	7.8%	6.8%	7.2%	8.3%	7.5%	7.1%	7.2%	8.0%	7.1%	6.5%	6.6%	7.5%	7.49%
Operating Margin	1.7%	1.0%	0.1%	0.4%	0.8%	0.0%	-1.1%	0.0%	1.0%	0.3%	-2.8%	-1.9%	1.4%	-0.7%	-1.0%	-1.1%	-0.2%	0.3%	-1.1%	-0.9%	-0.87%
Net Margin	3.7%	2.1%	1.4%	0.9%	0.7%	0.4%	-0.8%	0.2%	0.8%	0.1%	-2.2%	-1.7%	1.0%	-0.7%	-0.9%	-1.2%	-0.2%	0.3%	-1.1%	-0.5%	-0.51%
EBITDA Margin	1.8%	1.2%	0.3%	0.6%	1.0%	0.2%	-0.9%	0.3%	1.3%	0.5%	-1.6%	0.0%	1.7%	1.0%	-0.3%	-0.8%	-0.0%	0.5%	-0.9%	-0.9%	-0.87%
FCF Margin	8.4%	6.6%	6.2%	6.3%	5.0%	4.7%	4.3%	3.3%	4.5%	4.5%	4.7%	4.7%	4.1%	4.6%	4.0%	3.5%	2.7%	2.3%	2.3%	1.9%	1.86%
OCF Margin	8.7%	6.9%	6.5%	6.7%	5.3%	5.0%	4.6%	3.5%	4.7%	4.7%	4.9%	4.9%	4.2%	4.7%	4.2%	3.7%	3.0%	2.5%	2.5%	2.1%	2.06%
ROE 3Y Avg	snapshot only																				-8.59%
ROE 5Y Avg	snapshot only																				3.17%
ROA 3Y Avg	snapshot only																				-4.94%
ROIC 3Y Avg	snapshot only																				-15.40%
ROIC Economic	snapshot only																				-10.73%
Cash ROA	snapshot only																				22.45%
Cash ROIC	snapshot only																				83.81%
CROIC	snapshot only																				75.55%
NOPAT Margin	snapshot only																				-0.33%
Pretax Margin	snapshot only																				-0.40%
R&D / Revenue	snapshot only																				1.46%
SGA / Revenue	snapshot only																				5.85%
SBC / Revenue	snapshot only																				1.41%

Valuation

Metric	Q2'21	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	Current
P/E Ratio	88.45	79.90	61.30	36.61	30.05	43.33	103.77	235.07	376.60	490.64	-255.95	-59.25	-73.93	-63.84	-81.14	-89.39	-44.90	-88.28	-63.56	-57.81	-48.785
P/S Ratio	2.07	1.78	1.32	0.74	0.37	0.35	0.35	0.42	0.72	0.58	0.54	0.35	0.39	0.47	0.38	0.33	0.31	0.36	0.30	0.20	0.167
P/B Ratio	40.35	41.44	22.41	14.05	7.78	7.44	6.47	7.60	12.27	9.94	9.46	6.36	7.03	8.67	8.42	7.27	6.86	8.33	5.95	4.00	3.200
P/FCF	24.66	26.97	21.33	11.84	7.56	7.43	8.07	12.87	15.94	12.92	11.42	7.51	9.48	10.37	9.40	9.23	11.19	15.75	13.33	10.84	10.837
P/OCF	23.70	25.64	20.17	11.17	7.07	7.01	7.61	12.14	15.25	12.34	10.98	7.23	9.15	10.00	9.01	8.72	10.37	14.39	12.17	9.77	9.769
EV/EBITDA	113.43	125.06	120.59	74.31	44.30	58.21	97.18	154.27	225.29	140.63	244.18	217.09	127.39	110.09	53.34	61.98	2228.93	-316.84	-104.22	-62.07	-62.068
EV/Revenue	2.04	1.75	1.29	0.72	0.35	0.33	0.32	0.40	0.69	0.55	0.51	0.32	0.36	0.44	0.35	0.30	0.28	0.34	0.28	0.18	0.175
EV/EBIT	126.24	142.73	142.65	89.53	56.33	87.52	273.97	1821.14	1355.32	401.74	-1084.32	-339.50	1038.85	264.35	80.86	117.18	-140.84	-107.37	-59.38	-41.01	-41.010
EV/FCF	24.25	26.54	20.87	11.43	7.09	6.95	7.46	12.04	15.31	12.29	10.79	6.90	8.78	9.75	8.78	8.53	10.28	14.70	12.18	9.45	9.449
Earnings Yield	1.1%	1.3%	1.6%	2.7%	3.3%	2.3%	1.0%	0.4%	0.3%	0.2%	-0.4%	-1.7%	-1.4%	-1.6%	-1.2%	-1.1%	-2.2%	-1.1%	-1.6%	-1.7%	-1.73%
FCF Yield	4.1%	3.7%	4.7%	8.4%	13.2%	13.5%	12.4%	7.8%	6.3%	7.7%	8.8%	13.3%	10.5%	9.6%	10.6%	10.8%	8.9%	6.3%	7.5%	9.2%	9.23%
PEG Ratio	snapshot only																				0.671
Price/Tangible Book	snapshot only																				4.402
EV/OCF	snapshot only																				8.518
EV/Gross Profit	snapshot only																				2.543
Shareholder Yield	snapshot only																				8.49%

Leverage & Solvency

Metric	Q2'21	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	Current
Current Ratio	2.20	2.20	1.71	1.71	1.71	1.71	2.00	2.00	2.00	2.00	1.88	1.88	1.88	1.88	1.44	1.44	1.44	1.44	1.53	1.53	1.527
Quick Ratio	2.20	2.20	1.71	1.71	1.71	1.71	2.00	2.00	2.00	2.00	1.88	1.88	1.88	1.88	1.44	1.44	1.44	1.44	1.53	1.53	1.527
Debt/Equity	0.04	0.04	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
Net Debt/Equity	-0.67	-0.67	-0.48	-0.48	-0.48	-0.48	-0.49	-0.49	-0.49	-0.49	-0.52	-0.52	-0.52	-0.52	-0.55	-0.55	-0.55	-0.55	-0.51	-0.51	-0.512
Debt/Assets	0.02	0.02	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
Debt/EBITDA	0.10	0.11	0.03	0.03	0.03	0.04	0.06	0.08	0.07	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.00	-0.00	-0.00	-0.000
Net Debt/EBITDA	-1.92	-2.06	-2.65	-2.64	-2.93	-4.04	-7.92	-10.56	-9.31	-7.24	-14.16	-19.26	-10.13	-7.00	-3.76	-5.12	-195.87	22.61	9.81	9.11	9.113
Interest Coverage	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity Multiplier	1.71	1.71	1.86	1.86	1.86	1.86	1.54	1.54	1.54	1.54	1.59	1.59	1.59	1.59	1.91	1.91	1.91	1.91	1.82	1.82	1.823
Cash Ratio	snapshot only																				0.622
Defensive Interval	snapshot only																				241.2 days

Efficiency & Turnover

Metric	Q2'21	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	Current
Asset Turnover	16.28	19.51	11.50	12.80	14.06	14.46	11.56	11.15	10.69	10.62	11.14	11.39	11.56	11.60	11.77	11.80	11.83	12.05	11.46	11.58	11.577
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	52.44	62.84	35.84	39.90	43.84	45.06	41.66	40.19	38.52	38.29	49.54	50.64	51.38	51.59	52.79	52.93	53.09	54.08	48.57	49.08	49.081
Payables Turnover	568.89	684.57	554.65	618.00	679.90	698.24	482.22	465.08	445.45	443.66	412.40	421.57	428.04	429.44	438.63	440.08	442.01	451.03	353.81	357.91	357.910
DSO	7	6	10	9	8	8	9	9	9	10	7	7	7	7	7	7	7	7	8	7	7.4 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	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1.0 days
Cash Conversion Cycle	6	5	10	9	8	8	8	8	9	9	6	6	6	6	6	6	6	6	6	6	6.4 days
Fixed Asset Turnover	snapshot only																				336.939
Cash Velocity	snapshot only																				38.818
Capital Intensity	snapshot only																				0.092

Growth (YoY)

Metric	Q2'21	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	Current
Revenue	1.3%	1.3%	1.1%	98.9%	67.3%	43.5%	21.9%	5.7%	-7.8%	-10.9%	-7.0%	-1.5%	4.3%	5.4%	6.8%	4.8%	3.6%	5.1%	4.5%	5.3%	5.32%
Net Income	7.7%	2.0%	1.6%	1.4%	-10.9%	-48.1%	-81.0%	-90.6%	-86.0%	-86.8%	-1.6%	-4.3%	-3.9%	-7.6%	-1.4%	36.1%	-35.6%	41.4%	-6.8%	-0.8%	-0.82%
EPS	7.0%	1.9%	1.6%	1.4%	-10.0%	-47.6%	-80.3%	-90.5%	-86.0%	-87.0%	-1.6%	-4.3%	-3.9%	-7.8%	-1.4%	36.1%	-35.5%	44.1%	-2.6%	3.7%	3.71%
FCF	2.3%	1.2%	1.1%	51.7%	-1.2%	2.2%	-15.0%	-44.5%	-16.6%	-14.2%	1.4%	40.5%	-5.6%	6.4%	-8.7%	-21.6%	-30.2%	-46.7%	-41.0%	-44.5%	-44.47%
EBITDA	3.4%	62.4%	13.6%	-0.4%	-26.1%	-42.5%	-62.3%	-71.8%	-64.6%	-37.2%	-41.7%	-42.8%	-4.2%	7.8%	2.4%	2.4%	-95.3%	-1.3%	-1.4%	-1.6%	-1.61%
Op. Income	4.6%	62.6%	8.1%	-7.3%	-35.3%	-56.3%	-84.2%	-97.1%	-92.5%	-67.0%	-3.1%	-31.4%	-12.0%	-7.1%	-69.5%	61.9%	-35.6%	44.7%	-13.0%	-77.5%	-77.55%
OCF Growth	snapshot only																				-41.80%
Asset Growth	snapshot only																				13.25%
Equity Growth	snapshot only																				18.50%
Shares Change	snapshot only																				4.70%
Dividend Growth	snapshot only																				3.40%

Growth (CAGR)

Metric	Q2'21	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	Current
Revenue 3Y	1.4%	1.1%	96.1%	91.8%	84.8%	76.9%	67.4%	59.4%	53.3%	42.4%	33.5%	27.5%	17.2%	10.5%	6.6%	2.9%	-0.1%	-0.4%	1.2%	2.8%	2.83%
Revenue 5Y	—	—	—	—	—	—	—	1.3%	85.7%	64.6%	53.6%	49.0%	43.4%	39.1%	36.1%	33.1%	31.2%	26.2%	21.6%	18.0%	17.97%
EPS 3Y	—	—	—	—	—	—	—	—	0.3%	-41.7%	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	2.9%	-40.8%	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	2.2%	5.0%	-16.3%	-37.0%	-45.7%	-36.9%	-27.0%	-9.2%	-18.2%	-74.9%	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.3%	-44.7%	—	—	—	—
Gross Profit 3Y	1.3%	1.1%	94.2%	88.5%	82.3%	73.8%	63.4%	53.8%	46.2%	35.6%	26.2%	20.9%	12.6%	8.3%	5.0%	1.4%	-1.7%	-3.1%	-3.1%	-2.1%	-2.14%
Gross Profit 5Y	—	—	—	—	—	—	—	1.2%	79.0%	61.6%	51.3%	46.4%	41.4%	36.8%	32.4%	28.4%	25.0%	20.1%	15.9%	12.5%	12.45%
Op. Income 3Y	—	—	—	—	—	—	—	—	-35.4%	-38.3%	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	1.7%	1.3%	1.2%	1.2%	90.4%	75.9%	58.3%	34.4%	39.2%	24.5%	21.1%	5.8%	-8.0%	-2.3%	-7.7%	-15.1%	-18.1%	-21.3%	-18.3%	-15.1%	-15.11%
FCF 5Y	—	—	—	—	—	—	—	1.0%	74.8%	61.3%	55.4%	54.0%	40.3%	37.8%	29.7%	21.7%	12.2%	1.8%	-0.9%	-12.4%	-12.41%
OCF 3Y	1.7%	1.3%	1.2%	1.2%	88.5%	73.4%	56.3%	33.0%	37.7%	24.1%	20.5%	5.7%	-8.2%	-2.8%	-8.1%	-15.2%	-17.9%	-20.5%	-17.4%	-13.8%	-13.81%
OCF 5Y	—	—	—	—	—	—	—	1.0%	73.9%	60.3%	53.8%	52.2%	38.6%	36.0%	28.3%	20.9%	12.2%	2.5%	-0.2%	-11.3%	-11.32%
Assets 3Y	1.5%	1.5%	95.0%	95.0%	95.0%	95.0%	58.2%	58.2%	58.2%	58.2%	16.8%	16.8%	16.8%	16.8%	-1.9%	-1.9%	-1.9%	-1.9%	5.1%	5.1%	5.05%
Assets 5Y	—	—	—	—	—	—	—	92.0%	92.0%	92.0%	47.2%	47.2%	47.2%	47.2%	32.3%	32.3%	32.3%	32.3%	12.8%	12.8%	12.81%
Equity 3Y	2.2%	2.2%	95.0%	95.0%	95.0%	95.0%	68.3%	68.3%	68.3%	68.3%	19.7%	19.7%	19.7%	19.7%	-2.7%	-2.7%	-2.7%	-2.7%	-0.7%	-0.7%	-0.68%
Book Value 3Y	1.9%	1.9%	76.4%	79.1%	80.2%	81.8%	58.2%	64.3%	64.1%	65.7%	20.4%	20.7%	20.0%	20.8%	-1.8%	-2.2%	-2.7%	-3.7%	-2.2%	-2.0%	-2.00%
Dividend 3Y	—	—	—	—	—	50.8%	21.9%	11.5%	2.3%	2.8%	4.8%	5.2%	4.1%	3.8%	2.7%	1.1%	0.1%	-0.6%	-0.8%	-0.2%	-0.22%

Growth Quality

Metric	Q2'21	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	Current
Revenue Stability	0.91	0.90	0.91	0.92	0.94	0.97	0.97	0.93	0.90	0.89	0.89	0.88	0.83	0.78	0.78	0.74	0.66	0.65	0.72	0.78	0.782
Earnings Stability	0.77	0.89	0.94	0.82	0.82	0.68	0.42	0.37	0.35	0.24	0.07	0.00	0.00	0.06	0.12	0.19	0.46	0.61	0.65	0.57	0.574
Margin Stability	0.91	0.94	0.94	0.94	0.91	0.93	0.94	0.89	0.90	0.93	0.94	0.94	0.95	0.97	0.94	0.92	0.90	0.90	0.91	0.91	0.909
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.50	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	0.50	0.96	0.81	0.50	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.97	1.00	0.997
Earnings Smoothness	0.00	0.00	0.11	0.18	0.89	0.37	0.00	0.00	0.00	0.00	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	0.69	0.55	0.35	0.29	-0.04	-0.32	-0.23	-0.29	-0.33	-0.32	-0.25	-0.32	-0.24	-0.23	-0.12	-0.04	-0.12	-0.04	-0.02	0.03	0.025
Gross Margin Trend	-0.00	-0.01	-0.01	-0.01	-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	-0.01	-0.01	-0.006
FCF Margin Trend	0.03	0.01	0.00	-0.01	-0.02	-0.02	-0.02	-0.04	-0.02	-0.01	-0.01	-0.00	-0.01	-0.00	-0.00	-0.00	-0.02	-0.02	-0.02	-0.02	-0.023
Sustainable Growth Rate	66.7%	69.9%	38.3%	37.3%	18.8%	7.6%	-4.2%	-7.6%	-8.0%	-9.6%	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	61.7%	66.6%	27.0%	26.1%	11.7%	4.4%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q2'21	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	Current
OCF/Net Income	3.73	3.12	3.04	3.28	4.25	6.18	13.63	19.37	24.69	39.76	-23.31	-8.20	-8.08	-6.38	-9.01	-10.25	-4.33	-6.13	-5.22	-5.92	-5.918
FCF/OCF	0.96	0.95	0.95	0.94	0.94	0.94	0.94	0.94	0.96	0.96	0.96	0.96	0.96	0.96	0.96	0.94	0.93	0.91	0.91	0.90	0.901
FCF/Net Income	snapshot only																				-5.334
CapEx/Revenue	0.3%	0.3%	0.4%	0.4%	0.3%	0.3%	0.3%	0.2%	0.2%	0.2%	0.2%	0.2%	0.1%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.2%	0.20%
CapEx/Depreciation	snapshot only																				1.398
Accruals Ratio	-1.04	-0.92	-0.51	-0.59	-0.57	-0.60	-0.49	-0.37	-0.48	-0.49	-0.57	-0.62	-0.55	-0.63	-0.55	-0.48	-0.43	-0.36	-0.34	-0.28	-0.279
Sloan Accruals	snapshot only																				0.039
Cash Flow Adequacy	snapshot only																				2.427

Dividends & Buybacks

Metric	Q2'21	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	Current
Dividend Yield	0.0%	0.1%	0.2%	0.6%	1.3%	1.5%	1.6%	1.4%	0.9%	1.1%	1.2%	1.9%	1.8%	1.4%	1.7%	2.0%	2.2%	1.8%	2.1%	3.2%	3.96%
Dividend/Share	$0.00	$0.04	$0.07	$0.11	$0.15	$0.16	$0.17	$0.17	$0.17	$0.17	$0.19	$0.19	$0.19	$0.20	$0.20	$0.19	$0.19	$0.19	$0.19	$0.19	$0.20
Payout Ratio	0.0%	7.8%	14.2%	20.4%	40.5%	63.8%	1.6%	3.2%	3.3%	5.5%	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	0.0%	2.6%	4.9%	6.6%	10.2%	10.9%	12.7%	17.7%	14.1%	14.5%	14.2%	14.3%	16.7%	14.8%	16.4%	18.7%	24.1%	28.2%	28.4%	34.8%	34.77%
Total Payout Ratio	1.6%	2.1%	2.3%	2.2%	3.2%	5.1%	13.3%	25.6%	25.4%	40.2%	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	—	—	—	—	—	3.24	1.20	0.51	0.17	0.15	0.14	0.16	0.14	0.10	0.07	0.04	0.03	0.03	0.04	0.07	0.066
Buyback Yield	1.9%	2.6%	3.5%	5.4%	9.4%	10.3%	11.2%	9.5%	5.9%	7.1%	7.0%	10.6%	9.5%	6.8%	8.2%	7.6%	6.4%	4.2%	3.9%	5.3%	5.28%
Net Buyback Yield	1.9%	2.6%	3.5%	5.4%	9.4%	10.3%	11.2%	9.5%	5.9%	7.1%	7.0%	10.6%	9.5%	6.8%	8.2%	7.6%	6.4%	4.2%	3.9%	5.3%	5.27%
Total Shareholder Return	1.9%	2.7%	3.7%	5.9%	10.8%	11.7%	12.8%	10.9%	6.8%	8.2%	8.2%	12.5%	11.3%	8.2%	9.9%	9.6%	8.5%	6.0%	6.0%	8.5%	8.48%

DuPont Factors

Metric	Q2'21	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	Current
Tax Burden (NI/EBT)	1.45	1.82	2.41	2.64	2.14	2.42	3.37	5.70	1.85	0.58	1.09	1.01	1.16	1.04	1.35	2.10	1.06	1.11	1.12	0.86	0.860
Interest Burden (EBT/EBIT)	1.00	1.00	0.99	0.96	0.93	0.89	0.85	1.45	2.03	1.48	4.09	6.19	-13.09	-4.25	-0.79	-0.68	3.23	1.18	0.91	0.95	0.946
EBIT Margin	0.02	0.01	0.01	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	-0.00	-0.00	-0.00	-0.00	-0.004
Asset Turnover	16.28	19.51	11.50	12.80	14.06	14.46	11.56	11.15	10.69	10.62	11.14	11.39	11.56	11.60	11.77	11.80	11.83	12.05	11.46	11.58	11.577
Equity Multiplier	1.75	1.75	1.80	1.80	1.80	1.80	1.69	1.69	1.69	1.69	1.56	1.56	1.56	1.56	1.73	1.73	1.73	1.73	1.86	1.86	1.861

Per Share

Metric	Q2'21	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	Current
EPS (Diluted TTM)	$0.41	$0.47	$0.52	$0.54	$0.37	$0.24	$0.10	$0.05	$0.05	$0.03	$-0.06	$-0.17	$-0.15	$-0.22	$-0.14	$-0.11	$-0.20	$-0.12	$-0.14	$-0.10	$-0.10
Book Value/Share	$0.90	$0.90	$1.41	$1.42	$1.43	$1.42	$1.63	$1.59	$1.58	$1.57	$1.58	$1.57	$1.56	$1.58	$1.34	$1.32	$1.31	$1.27	$1.52	$1.50	$1.58
Tangible Book/Share	$0.76	$0.76	$1.28	$1.29	$1.29	$1.29	$1.39	$1.36	$1.35	$1.34	$1.42	$1.41	$1.40	$1.43	$1.18	$1.17	$1.16	$1.13	$1.38	$1.36	$1.36
Revenue/Share	$17.53	$21.00	$23.94	$26.77	$29.61	$30.41	$30.19	$28.50	$27.14	$26.71	$27.81	$28.24	$28.43	$29.05	$29.80	$29.60	$29.43	$29.10	$29.91	$29.77	$29.77
FCF/Share	$1.47	$1.38	$1.48	$1.68	$1.47	$1.43	$1.30	$0.94	$1.22	$1.21	$1.31	$1.33	$1.15	$1.32	$1.20	$1.04	$0.81	$0.67	$0.68	$0.55	$0.55
OCF/Share	$1.53	$1.45	$1.57	$1.78	$1.57	$1.51	$1.38	$1.00	$1.27	$1.26	$1.36	$1.38	$1.20	$1.37	$1.25	$1.10	$0.87	$0.74	$0.74	$0.61	$0.61
Cash/Share	$0.64	$0.64	$0.69	$0.69	$0.69	$0.69	$0.80	$0.78	$0.78	$0.77	$0.82	$0.81	$0.81	$0.82	$0.74	$0.73	$0.73	$0.71	$0.78	$0.77	$0.75
EBITDA/Share	$0.31	$0.29	$0.26	$0.26	$0.24	$0.17	$0.10	$0.07	$0.08	$0.11	$0.06	$0.04	$0.08	$0.12	$0.20	$0.14	$0.00	$-0.03	$-0.08	$-0.08	$-0.08
Debt/Share	$0.03	$0.03	$0.01	$0.01	$0.01	$0.01	$0.01	$0.01	$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
Net Debt/Share	$-0.60	$-0.60	$-0.68	$-0.68	$-0.69	$-0.69	$-0.79	$-0.78	$-0.77	$-0.76	$-0.82	$-0.81	$-0.81	$-0.82	$-0.74	$-0.73	$-0.73	$-0.71	$-0.78	$-0.77	$-0.77

Academic Models

Metric	Q2'21	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	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	13.562
Altman Z-Prime	snapshot only																				5.452
Piotroski F-Score	7	7	6	7	6	7	7	7	5	4	3	4	5	6	4	5	3	4	3	4	4
Beneish M-Score	-4.05	-4.09	-3.09	-3.38	-3.42	-3.59	-5.16	-4.44	-4.97	-4.91	-5.01	-5.40	-5.01	-5.48	-4.93	-4.67	-4.44	-4.03	-3.68	-3.42	-3.416
Ohlson O-Score	snapshot only																				-7.525
ROIC (Greenblatt)	snapshot only																				-17.27%
Net-Net WC	snapshot only																				$0.65
EVA	snapshot only																				$-27557020.00

Credit

Metric	Q2'21	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	Current
Credit Rating	snapshot only																				AA
Credit Score	95.47	95.32	95.29	95.21	95.38	95.21	95.32	95.27	95.30	95.23	84.08	83.74	84.32	84.20	89.00	89.00	89.00	89.00	89.00	89.00	89.000
Credit Grade	snapshot only																				3
Credit Trend	snapshot only																				0.000
Implied Spread (bps)	snapshot only																				80.000
Industry Credit Rank	snapshot only																				93
Sector Credit Rank	snapshot only																				96

EXPI NASDAQ

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