Also trades as: FDUSZ (NASDAQ) · $vol 0M

$18.99

+0.31 (+1.66%)

After Hours: $19.25 (+0.26, +1.37%)

Weekly Expected Move ±2.8%

$18 $18 $19 $19 $20

NASDAQ · Financial Services · Asset Management · Tech Score Sell · Power 32 · $709.0M mcap · 38M float · 0.938% daily turnover · Short 36% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $92.1M held by 3 funds, 255 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. 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

38.6 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: 11.5% · 5Y Avg: 11.2%

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. FDUS has No discernible competitive edge (38.6/100). The business operates without significant structural advantages. The primary source of advantage is Cost Advantage. ROIC of 11.5% suggests modest returns relative to capital deployed.

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: 5Hold: 7Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$—

Analysts0

Consensus Change History

Date	Field	From	To
2026-07-21	consensus	Buy	Hold

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.

B+

Oct 27, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. FDUS receives an overall rating of B+. Strongest factors: ROA (5/5). Areas of concern: DCF (1/5).

Rating Change History

Date	From	To
2026-07-25	B	B+
2026-07-16	B+	B
2026-05-11	A-	B+
2026-05-08	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.

★ ★ ★ ★ ★ 17 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. FDUS scores highest in Value (95/100) and lowest in Momentum (0/100). 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

1.15

Distress Zone

Piotroski F-Score

2/9

✓ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✓

Beneish M-Score

-1.03

Possible Manipulator

Ohlson O-Score

-6.79

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

Score: 41.8/100

Trend: Deteriorating

Earnings Quality

25/100

OCF/NI: -2.08x

Accruals: 17.2%

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. FDUS scores 1.15, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. 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. FDUS scores 2/9, suggesting weak financial fundamentals — the company fails the majority of these accounting tests. 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. FDUS's score of -1.03 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. FDUS'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. FDUS receives an estimated rating of BB (score: 41.8/100), 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). FDUS's score of 25/100 is low — reported earnings may not be fully supported by cash flows.

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

9.10x

PEG

-1.21x

P/S

4.89x

P/B

0.98x

P/FCF

-4.51x

P/OCF

—

EV/EBITDA

8.06x

EV/Revenue

5.61x

EV/EBIT

8.06x

EV/FCF

-5.16x

Earnings Yield

10.68%

FCF Yield

-22.18%

Shareholder Yield

14.09%

Graham Number

$29.86

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 9.1x earnings, FDUS trades at a deep value multiple. An earnings yield of 10.7% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $29.86 per share, suggesting a potential 60% 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

0.942

NI / EBT

Interest Burden

0.798

EBT / EBIT

EBIT Margin

0.696

EBIT / Rev

Asset Turnover

0.107

Rev / Assets

Equity Multiplier

1.928

Assets / Equity

ROE

10.8%

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. FDUS's ROE of 10.8% is driven by EBIT Margin (0.696) as the dominant factor. A tax burden ratio of 0.94 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

6.21%

Fair P/E

20.91x

Intrinsic Value

$42.59

Price/Value

0.45x

Margin of Safety

55.23%

Premium

-55.23%

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 FDUS's realized 6.2% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. FDUS trades at a -55% premium to its adjusted intrinsic value of $42.59, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 20.9x compares to the current market P/E of 9.1x.

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

$18.99

Median 1Y

$20.22

5th Pctile

$10.42

95th Pctile

$39.41

Ann. Volatility

38.6%

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

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

—

Revenue / Employee

—

Rev: $159,246,000

Profit / Employee

—

NI: $82,402,000

SGA / Employee

—

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

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

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	22.8%	25.8%	25.8%	21.5%	17.6%	7.4%	8.2%	8.8%	10.8%	14.4%	15.0%	16.8%	14.4%	12.6%	12.1%	11.8%	11.9%	11.8%	11.6%	10.8%	10.81%
ROA	12.1%	13.1%	13.8%	11.5%	9.4%	3.9%	4.3%	4.5%	5.7%	7.6%	8.0%	8.9%	8.0%	6.9%	6.7%	6.6%	6.7%	6.4%	6.2%	5.6%	5.60%
ROIC	13.6%	17.0%	14.8%	12.3%	9.9%	4.3%	4.5%	4.7%	6.1%	8.2%	7.9%	8.9%	8.1%	7.3%	6.8%	9.9%	9.8%	9.1%	7.4%	11.5%	11.51%
ROCE	11.6%	13.3%	13.1%	11.2%	9.4%	5.1%	5.4%	5.7%	6.7%	7.6%	7.9%	8.6%	7.8%	7.3%	6.8%	6.6%	6.8%	6.2%	6.9%	6.9%	6.85%
Gross Margin	88.1%	93.1%	77.7%	70.8%	75.8%	80.8%	78.9%	74.1%	82.9%	84.6%	80.6%	83.5%	77.5%	78.9%	79.5%	80.1%	76.7%	73.5%	67.4%	76.2%	76.25%
Operating Margin	82.0%	87.7%	66.9%	58.1%	66.4%	71.5%	70.0%	63.9%	76.7%	78.1%	71.1%	76.6%	69.5%	70.9%	71.2%	71.7%	67.0%	66.6%	84.6%	63.1%	63.06%
Net Margin	82.4%	83.3%	67.2%	56.8%	66.4%	20.6%	69.9%	55.9%	76.6%	75.1%	71.3%	71.5%	67.2%	64.6%	65.0%	71.2%	64.3%	56.1%	56.3%	40.0%	39.98%
EBITDA Margin	82.0%	87.7%	66.9%	58.1%	66.4%	71.5%	70.0%	63.9%	76.7%	78.1%	71.1%	76.6%	69.5%	70.9%	71.2%	71.7%	67.0%	66.6%	84.3%	62.7%	62.67%
FCF Margin	18.8%	56.8%	-10.8%	-14.6%	-44.3%	-1.5%	-26.6%	-42.4%	15.3%	24.2%	34.6%	56.8%	55.7%	57.0%	56.2%	62.5%	48.5%	-51.4%	-45.7%	-1.1%	-1.09%
OCF Margin	18.8%	56.8%	-10.8%	-14.6%	-44.3%	-1.5%	-26.6%	-42.4%	15.3%	24.2%	34.6%	56.8%	55.7%	57.0%	56.2%	62.5%	48.5%	-51.4%	-45.7%	-1.1%	-1.09%
ROE 3Y Avg	snapshot only																				12.19%
ROE 5Y Avg	snapshot only																				13.14%
ROA 3Y Avg	snapshot only																				6.57%
ROIC 3Y Avg	snapshot only																				11.01%
ROIC Economic	snapshot only																				9.49%
Cash ROA	snapshot only																				-10.69%
Cash ROIC	snapshot only																				-19.03%
CROIC	snapshot only																				-19.03%
NOPAT Margin	snapshot only																				65.76%
Pretax Margin	snapshot only																				55.57%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				4.53%
SBC / Revenue	snapshot only																				0.00%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	2.71	2.35	2.71	2.83	3.44	8.96	8.49	8.49	7.06	6.19	6.12	5.62	6.56	8.19	8.24	8.53	8.63	8.66	8.00	9.36	9.103
P/S Ratio	2.12	1.86	2.19	2.20	2.57	4.48	4.40	4.42	4.06	4.40	4.37	4.14	4.70	5.64	5.54	5.73	5.75	5.57	4.96	4.90	4.889
P/B Ratio	0.58	0.56	0.65	0.57	0.59	0.67	0.69	0.75	0.71	0.81	0.82	0.82	0.87	0.98	0.95	0.97	0.99	0.96	0.89	0.98	0.978
P/FCF	11.27	3.28	-20.26	-15.09	-5.79	-3.05	-16.55	-10.41	26.45	18.14	12.60	7.28	8.43	9.90	9.87	9.17	11.85	-10.84	-10.86	-4.51	-4.509
P/OCF	11.27	3.28	—	—	—	—	—	—	26.45	18.14	12.60	7.28	8.43	9.90	9.87	9.17	11.85	—	—	—	—
EV/EBITDA	5.36	3.96	5.18	5.87	7.48	14.04	14.30	14.19	10.99	10.33	11.00	9.73	10.94	12.88	13.24	9.34	9.60	9.86	12.04	8.06	8.062
EV/Revenue	4.19	3.21	4.28	4.69	5.78	9.34	9.65	9.68	7.84	7.60	8.10	7.37	8.12	9.32	9.58	6.62	6.75	6.82	8.76	5.61	5.612
EV/EBIT	5.36	3.96	5.18	5.87	7.48	14.04	14.30	14.19	10.99	10.33	11.00	9.73	10.94	12.88	13.24	9.34	9.60	9.86	12.04	8.06	8.062
EV/FCF	22.31	5.65	-39.64	-32.14	-13.02	-6.35	-36.26	-22.84	51.11	31.34	23.37	12.97	14.58	16.35	17.04	10.59	13.92	-13.27	-19.19	-5.16	-5.164
Earnings Yield	36.9%	42.5%	37.0%	35.4%	29.1%	11.2%	11.8%	11.8%	14.2%	16.2%	16.3%	17.8%	15.2%	12.2%	12.1%	11.7%	11.6%	11.5%	12.5%	10.7%	10.68%
FCF Yield	8.9%	30.5%	-4.9%	-6.6%	-17.3%	-32.8%	-6.0%	-9.6%	3.8%	5.5%	7.9%	13.7%	11.9%	10.1%	10.1%	10.9%	8.4%	-9.2%	-9.2%	-22.2%	-22.18%
Price/Tangible Book	snapshot only																				0.980
EV/Gross Profit	snapshot only																				7.625
Acquirers Multiple	snapshot only																				8.038
Shareholder Yield	snapshot only																				14.09%
Graham Number	snapshot only																				$29.86

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	49.34	38.15	26.84	13.57	3.90	15.93	15.54	10.30	28.73	3.81	1.51	11.90	19.86	2.15	24.23	329.46	111.01	25.62	1.51	220.58	220.580
Quick Ratio	49.34	38.15	26.84	13.57	3.90	15.93	15.54	10.30	28.73	3.81	1.51	11.90	19.86	2.15	24.23	329.46	111.01	25.62	1.51	220.58	220.580
Debt/Equity	0.79	0.75	0.80	0.80	0.82	0.85	0.90	0.97	0.81	0.79	0.75	0.72	0.72	0.72	0.79	0.28	0.26	0.31	0.90	0.39	0.390
Net Debt/Equity	0.57	0.40	0.62	0.65	0.74	0.72	0.83	0.89	0.66	0.59	0.70	0.64	0.63	0.64	0.69	0.15	0.17	0.22	0.68	0.14	0.142
Debt/Assets	0.43	0.41	0.43	0.43	0.43	0.44	0.46	0.48	0.44	0.43	0.42	0.41	0.41	0.41	0.43	0.16	0.14	0.16	0.46	0.19	0.192
Debt/EBITDA	3.69	3.08	3.26	3.83	4.64	8.61	8.48	8.40	6.47	5.84	5.39	4.76	5.22	5.78	6.38	2.35	2.15	2.60	6.89	2.80	2.802
Net Debt/EBITDA	2.65	1.66	2.53	3.11	4.16	7.30	7.78	7.72	5.30	4.35	5.07	4.27	4.61	5.08	5.58	1.25	1.42	1.81	5.22	1.02	1.023
Interest Coverage	5.57	7.00	7.32	6.20	5.15	2.88	2.97	3.05	3.51	3.87	3.94	4.46	4.11	3.69	3.64	3.40	3.33	3.07	2.99	2.90	2.896
Equity Multiplier	1.85	1.84	1.87	1.88	1.92	1.95	1.96	2.03	1.86	1.85	1.80	1.77	1.76	1.78	1.83	1.82	1.80	1.92	1.95	2.03	2.033
Cash Ratio	snapshot only																				191.558
Debt Service Coverage	snapshot only																				2.896
Cash to Debt	snapshot only																				0.635
FCF to Debt	snapshot only																				-0.557
Defensive Interval	snapshot only																				13764.5 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	0.16	0.17	0.17	0.15	0.13	0.08	0.08	0.09	0.10	0.11	0.11	0.12	0.11	0.10	0.10	0.10	0.10	0.10	0.10	0.11	0.107
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	15.95	18.56	16.52	7.71	10.96	7.14	6.36	4.22	7.60	9.13	7.80	8.28	8.68	8.39	6.65	7.08	7.05	7.02	6.27	6.78	6.778
Payables Turnover	7.93	4.15	4.93	2.56	2.07	3.52	5.00	2.93	2.32	3.61	8.57	4.02	6.39	3.58	8.77	3.72	14.62	4.36	9.95	4.77	4.773
DSO	23	20	22	47	33	51	57	87	48	40	47	44	42	43	55	52	52	52	58	54	53.9 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	46	88	74	143	176	104	73	124	157	101	43	91	57	102	42	98	25	84	37	76	76.5 days
Cash Conversion Cycle	-23	-68	-52	-95	-143	-53	-16	-38	-109	-61	4	-47	-15	-58	13	-47	27	-32	22	-23	-22.6 days
Cash Velocity	snapshot only																				0.807
Capital Intensity	snapshot only																				10.163

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	1.6%	1.6%	48.5%	10.4%	-10.8%	-51.1%	-46.9%	-35.2%	-11.6%	51.6%	50.1%	57.4%	26.3%	4.7%	0.9%	-8.8%	0.9%	12.8%	15.2%	25.7%	25.73%
Net Income	3.4%	2.7%	66.7%	12.2%	-14.7%	-69.1%	-65.9%	-56.7%	-31.9%	1.2%	1.1%	1.2%	57.2%	1.5%	-4.8%	-16.8%	-6.3%	5.2%	6.2%	-2.2%	-2.16%
EPS	3.4%	2.7%	66.7%	12.2%	-14.7%	-69.3%	-66.4%	-57.8%	-37.4%	73.7%	66.3%	73.2%	25.4%	-8.9%	-14.0%	-23.7%	-12.4%	-3.4%	-4.7%	-9.4%	-9.37%
FCF	98.8%	1.6%	-1.5%	-1.7%	-3.1%	-2.3%	-30.9%	-88.2%	1.3%	1.2%	3.0%	3.1%	3.6%	1.5%	63.7%	0.3%	-12.3%	-2.0%	-1.9%	-3.2%	-3.19%
EBITDA	3.1%	2.6%	69.4%	14.9%	-11.9%	-59.9%	-56.6%	-44.7%	-18.3%	67.5%	63.7%	74.9%	31.5%	3.0%	-0.8%	-14.7%	-4.6%	7.9%	15.9%	23.4%	23.44%
Op. Income	3.1%	2.6%	69.4%	14.9%	-11.9%	-59.9%	-56.6%	-44.7%	-18.3%	67.5%	63.7%	74.9%	31.5%	3.0%	-0.8%	-14.7%	-4.6%	7.9%	16.0%	23.8%	23.81%
OCF Growth	snapshot only																				-3.19%
Asset Growth	snapshot only																				19.38%
Equity Growth	snapshot only																				6.67%
Debt Growth	snapshot only																				47.29%
Shares Change	snapshot only																				7.96%
Dividend Growth	snapshot only																				24.66%

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	28.4%	36.0%	39.7%	37.4%	27.5%	3.7%	34.6%	26.8%	26.6%	23.7%	5.8%	4.1%	-0.1%	-8.1%	-7.0%	-2.4%	4.0%	21.4%	20.4%	21.7%	21.75%
Revenue 5Y	24.2%	26.0%	23.6%	21.8%	16.5%	7.0%	5.9%	8.1%	10.8%	13.3%	16.8%	21.5%	18.3%	12.1%	29.9%	24.0%	20.9%	17.4%	6.6%	5.3%	5.25%
EPS 3Y	24.2%	33.0%	36.5%	33.5%	26.3%	-9.7%	56.9%	40.8%	32.8%	25.6%	-2.4%	-6.4%	-12.6%	-21.4%	-21.7%	-17.7%	-11.8%	15.2%	10.9%	6.2%	6.21%
EPS 5Y	15.3%	18.3%	19.6%	17.5%	13.0%	-4.1%	-4.6%	-2.5%	0.4%	4.6%	7.3%	11.7%	9.6%	3.1%	40.7%	29.8%	20.8%	11.8%	-5.3%	-10.7%	-10.70%
Net Income 3Y	24.1%	32.9%	36.4%	33.5%	26.2%	-9.6%	57.6%	41.9%	36.7%	35.2%	5.4%	2.7%	-3.0%	-12.3%	-12.5%	-7.0%	0.1%	32.0%	27.8%	22.0%	22.02%
Net Income 5Y	21.0%	22.8%	21.7%	19.3%	13.0%	-4.0%	-4.3%	-2.0%	2.1%	9.3%	12.3%	18.1%	16.6%	10.1%	50.4%	39.6%	30.3%	21.4%	3.5%	-2.5%	-2.48%
EBITDA 3Y	14.8%	22.9%	26.3%	27.9%	23.5%	-1.1%	84.2%	50.5%	43.4%	34.7%	6.4%	3.6%	-1.8%	-11.5%	-11.0%	-6.2%	0.8%	23.0%	23.5%	22.6%	22.56%
EBITDA 5Y	14.9%	17.7%	16.8%	14.4%	9.0%	-2.5%	-3.6%	-1.5%	1.7%	4.6%	7.4%	15.2%	15.2%	10.8%	58.9%	38.4%	29.9%	22.1%	6.7%	3.2%	3.18%
Gross Profit 3Y	20.3%	25.8%	24.0%	18.1%	11.3%	-7.6%	27.7%	40.1%	36.5%	30.1%	5.6%	3.3%	-1.7%	-11.0%	-10.1%	-5.4%	1.5%	21.7%	18.8%	19.6%	19.60%
Gross Profit 5Y	16.0%	20.0%	19.1%	14.4%	9.3%	-1.3%	-0.5%	0.9%	5.0%	6.2%	6.8%	9.9%	8.2%	5.6%	26.7%	32.1%	26.3%	20.0%	4.6%	2.3%	2.30%
Op. Income 3Y	32.6%	34.8%	32.4%	24.3%	14.6%	-7.9%	33.4%	50.5%	43.4%	34.7%	6.4%	3.6%	-1.8%	-11.5%	-11.0%	-6.2%	0.8%	23.0%	23.5%	22.7%	22.69%
Op. Income 5Y	29.3%	34.4%	33.7%	26.0%	19.7%	7.0%	7.1%	7.0%	10.9%	10.5%	10.5%	13.2%	10.1%	6.2%	31.0%	38.4%	29.9%	22.1%	6.7%	3.2%	3.24%
FCF 3Y	—	1.2%	—	—	—	—	—	—	8.6%	-6.2%	7.0%	39.9%	43.5%	-8.0%	—	—	—	—	—	—	—
FCF 5Y	4.6%	—	—	—	—	—	—	—	—	26.4%	33.4%	—	—	—	—	—	38.8%	—	—	—	—
OCF 3Y	—	1.2%	—	—	—	—	—	—	8.6%	-6.2%	7.0%	39.9%	43.5%	-8.0%	—	—	—	—	—	—	—
OCF 5Y	4.6%	—	—	—	—	—	—	—	—	26.4%	33.4%	—	—	—	—	—	38.8%	—	—	—	—
Assets 3Y	5.1%	8.9%	8.8%	7.8%	6.4%	5.8%	8.0%	8.9%	11.0%	7.6%	11.9%	12.4%	11.9%	9.1%	11.0%	11.4%	12.0%	15.1%	15.0%	15.2%	15.18%
Assets 5Y	9.8%	8.9%	10.1%	8.2%	8.2%	7.7%	7.1%	7.7%	7.5%	9.5%	9.2%	9.6%	9.0%	8.1%	10.5%	10.6%	11.3%	10.3%	13.1%	13.2%	13.20%
Equity 3Y	3.7%	6.6%	6.3%	6.7%	5.6%	5.2%	8.9%	8.7%	12.1%	12.8%	13.8%	14.6%	13.8%	10.4%	11.7%	12.7%	14.4%	15.6%	15.3%	15.2%	15.18%
Book Value 3Y	3.7%	6.6%	6.4%	6.7%	5.6%	5.1%	8.4%	7.9%	8.9%	4.8%	5.4%	4.5%	2.5%	-1.1%	-0.0%	-0.2%	0.8%	0.9%	0.0%	0.2%	0.25%
Dividend 3Y	2.5%	6.4%	9.9%	8.3%	5.6%	7.7%	6.6%	10.1%	13.0%	8.6%	7.5%	1.9%	-4.6%	-10.3%	-12.6%	-14.2%	-13.6%	-13.8%	-13.3%	-3.9%	-3.90%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.47	0.53	0.54	0.63	0.58	0.25	0.28	0.35	0.45	0.24	0.30	0.46	0.52	0.14	0.37	0.55	0.82	0.93	0.55	0.33	0.327
Earnings Stability	0.21	0.34	0.35	0.42	0.35	0.06	0.11	0.14	0.20	0.10	0.21	0.31	0.35	0.12	0.19	0.21	0.24	0.10	0.00	0.02	0.023
Margin Stability	0.74	0.81	0.82	0.68	0.73	0.79	0.88	0.77	0.82	0.81	0.78	0.74	0.78	0.85	0.93	0.85	0.89	0.94	0.96	0.94	0.944
Rev. Growth Consistency	0.50	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	0.00	1.00	1.00	1.00	0.50	0.500
Earn. Growth Consistency	0.50	0.50	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	0.00	0.00	0.00	1.00	0.50	0.00	0.000
FCF Positive Streak	1	1	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	0	0	0	0
Earnings Persistence	0.50	0.50	0.50	0.95	0.94	0.50	0.50	0.50	0.87	0.50	0.50	0.50	0.50	0.99	0.98	0.93	0.97	0.98	0.98	0.99	0.991
Earnings Smoothness	0.00	0.00	0.50	0.88	0.84	0.00	0.02	0.21	0.62	0.27	0.31	0.24	0.56	0.99	0.95	0.82	0.94	0.95	0.94	0.98	0.978
ROE Trend	0.14	0.14	0.14	0.08	0.04	-0.08	-0.12	-0.12	-0.09	-0.03	-0.03	0.00	-0.00	0.02	0.01	-0.00	-0.00	-0.01	-0.01	-0.03	-0.026
Gross Margin Trend	-0.10	-0.01	0.03	0.16	0.10	-0.02	-0.08	-0.08	-0.06	-0.02	-0.02	0.01	-0.00	0.01	0.01	-0.01	-0.02	-0.03	-0.06	-0.07	-0.075
FCF Margin Trend	0.24	0.83	0.44	-0.07	-0.66	-2.03	-0.38	-0.47	0.28	0.69	0.53	0.85	0.70	1.18	0.52	0.55	0.13	-0.92	-0.91	-1.68	-1.684
Sustainable Growth Rate	13.9%	17.1%	16.3%	12.0%	8.1%	-2.7%	-2.7%	-3.6%	-2.7%	-0.2%	-0.1%	2.1%	0.9%	-0.0%	0.2%	0.5%	0.7%	1.0%	0.9%	-3.4%	-3.45%
Internal Growth Rate	7.9%	9.5%	9.5%	6.8%	4.5%	—	—	—	—	—	—	1.1%	0.5%	—	0.1%	0.3%	0.4%	0.5%	0.5%	—	—

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	0.24	0.72	-0.13	-0.19	-0.59	-2.94	-0.51	-0.82	0.27	0.34	0.49	0.77	0.78	0.83	0.84	0.93	0.73	-0.80	-0.74	-2.08	-2.076
FCF/OCF	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
FCF/Net Income	snapshot only																				-2.076
OCF/EBITDA	snapshot only																				-1.561
CapEx/Revenue	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%
Accruals Ratio	0.09	0.04	0.16	0.14	0.15	0.15	0.06	0.08	0.04	0.05	0.04	0.02	0.02	0.01	0.01	0.00	0.02	0.11	0.11	0.17	0.172
Sloan Accruals	snapshot only																				0.075
Cash Flow Adequacy	snapshot only																				-1.574
Earnings Quality Score	snapshot only																				0.250

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	14.4%	14.3%	13.6%	15.7%	15.7%	15.3%	15.6%	16.5%	17.7%	16.4%	16.4%	15.6%	14.3%	12.2%	12.0%	11.2%	10.9%	10.6%	11.6%	14.1%	11.25%
Dividend/Share	$1.53	$1.60	$1.75	$1.79	$1.80	$2.00	$2.12	$2.39	$2.60	$2.57	$2.67	$2.58	$2.46	$2.31	$2.25	$2.15	$2.16	$2.04	$2.01	$2.69	$2.14
Payout Ratio	39.2%	33.7%	36.8%	44.5%	54.1%	1.4%	1.3%	1.4%	1.2%	1.0%	1.0%	87.7%	94.1%	1.0%	98.5%	95.9%	94.5%	91.6%	92.5%	1.3%	1.32%
FCF Payout Ratio	1.6%	47.0%	—	—	—	—	—	—	4.7%	3.0%	2.1%	1.1%	1.2%	1.2%	1.2%	1.0%	1.3%	—	—	—	—
Total Payout Ratio	39.2%	33.7%	36.8%	44.5%	54.1%	1.4%	1.3%	1.4%	1.2%	1.0%	1.0%	87.7%	94.1%	1.0%	98.5%	95.9%	94.5%	91.6%	92.5%	1.3%	1.32%
Div. Increase Streak	0	0	0	0	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0
Chowder Number	0.22	0.35	0.46	0.43	0.33	0.41	0.39	0.53	0.75	0.76	0.73	0.55	0.33	0.12	0.05	0.02	0.05	0.07	0.11	0.49	0.487
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	0.0%	0.0%	0.0%	0.0%	0.0%	-1.8%	-3.3%	-4.3%	-19.8%	-23.1%	-24.8%	-28.6%	-18.4%	-10.3%	-10.6%	-6.3%	-6.8%	-11.1%	-8.9%	-7.1%	-7.06%
Total Shareholder Return	14.4%	14.3%	13.6%	15.7%	15.7%	13.5%	12.3%	12.2%	-2.1%	-6.7%	-8.4%	-13.0%	-4.0%	1.9%	1.4%	5.0%	4.2%	-0.5%	2.7%	7.0%	7.03%

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	0.98	0.98	0.97	0.97	0.75	0.77	0.76	0.81	0.97	0.97	0.97	0.96	0.95	0.93	0.95	0.95	0.93	0.95	0.94	0.942
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	1.00	1.00	0.90	0.80	0.798
EBIT Margin	0.78	0.81	0.83	0.80	0.77	0.67	0.67	0.68	0.71	0.74	0.74	0.76	0.74	0.72	0.72	0.71	0.70	0.69	0.73	0.70	0.696
Asset Turnover	0.16	0.17	0.17	0.15	0.13	0.08	0.08	0.09	0.10	0.11	0.11	0.12	0.11	0.10	0.10	0.10	0.10	0.10	0.10	0.11	0.107
Equity Multiplier	1.88	1.97	1.88	1.88	1.88	1.89	1.91	1.96	1.89	1.89	1.87	1.88	1.81	1.81	1.82	1.79	1.78	1.85	1.89	1.93	1.928

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)	$3.90	$4.75	$4.76	$4.02	$3.33	$1.46	$1.60	$1.70	$2.08	$2.53	$2.66	$2.94	$2.61	$2.31	$2.28	$2.25	$2.29	$2.23	$2.18	$2.04	$2.04
Book Value/Share	$18.31	$19.96	$19.91	$19.80	$19.41	$19.56	$19.54	$19.31	$20.61	$19.37	$19.77	$20.06	$19.73	$19.33	$19.89	$19.69	$19.90	$20.07	$19.55	$19.46	$19.46
Tangible Book/Share	$18.31	$19.96	$19.91	$19.80	$19.41	$19.56	$19.54	$19.31	$20.61	$19.37	$19.77	$20.06	$19.73	$19.33	$19.89	$19.69	$19.90	$20.07	$19.55	$19.46	$19.46
Revenue/Share	$5.00	$5.99	$5.89	$5.17	$4.46	$2.92	$3.08	$3.27	$3.62	$3.57	$3.73	$4.00	$3.64	$3.35	$3.39	$3.34	$3.44	$3.47	$3.51	$3.89	$3.89
FCF/Share	$0.94	$3.40	$-0.64	$-0.75	$-1.98	$-4.29	$-0.82	$-1.39	$0.56	$0.86	$1.29	$2.27	$2.03	$1.91	$1.91	$2.09	$1.67	$-1.78	$-1.60	$-4.23	$-5.22
OCF/Share	$0.94	$3.40	$-0.64	$-0.75	$-1.98	$-4.29	$-0.82	$-1.39	$0.56	$0.86	$1.29	$2.27	$2.03	$1.91	$1.91	$2.09	$1.67	$-1.78	$-1.60	$-4.23	$-5.22
Cash/Share	$4.04	$6.93	$3.52	$2.97	$1.65	$2.54	$1.47	$1.52	$3.02	$3.91	$0.88	$1.50	$1.63	$1.69	$1.98	$2.59	$1.74	$1.89	$4.26	$4.82	$4.82
EBITDA/Share	$3.91	$4.86	$4.86	$4.13	$3.44	$1.94	$2.08	$2.23	$2.58	$2.62	$2.74	$3.03	$2.71	$2.42	$2.46	$2.37	$2.41	$2.40	$2.55	$2.71	$2.71
Debt/Share	$14.42	$14.98	$15.84	$15.83	$15.97	$16.70	$17.62	$18.74	$16.71	$15.33	$14.78	$14.42	$14.12	$14.00	$15.67	$5.56	$5.18	$6.24	$17.60	$7.59	$7.59
Net Debt/Share	$10.37	$8.05	$12.31	$12.87	$14.31	$14.16	$16.15	$17.23	$13.70	$11.41	$13.90	$12.92	$12.49	$12.32	$13.69	$2.97	$3.43	$4.34	$13.35	$2.77	$2.77

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.152
Altman Z-Prime	snapshot only																				2.584
Piotroski F-Score	8	8	7	6	2	1	2	2	4	6	6	7	5	4	3	4	4	4	2	2	2
Beneish M-Score	-1.92	-1.99	-1.32	3.23	-0.59	-0.13	-1.87	-2.26	-1.84	-2.04	-2.09	-1.96	-2.26	-1.99	-2.20	-2.51	-2.02	-1.49	-1.62	-1.03	-1.030
Ohlson O-Score	snapshot only																				-6.787
ROIC (Greenblatt)	snapshot only																				49.03%
Net-Net WC	snapshot only																				$-14.54
EVA	snapshot only																				$12765095.78

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				BB
Credit Score	51.16	56.15	51.73	49.68	44.51	33.80	34.74	37.71	41.16	42.04	39.53	49.94	49.17	46.53	43.60	56.93	53.50	45.70	32.53	41.82	41.824
Credit Grade	snapshot only																				12
Credit Trend	snapshot only																				-15.110
Implied Spread (bps)	snapshot only																				475.000
Industry Credit Rank	snapshot only																				34
Sector Credit Rank	snapshot only																				23

FDUS 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

Workforce & Productivity

Scaling Efficiency

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