$9.95

-0.05 (-0.50%)

Weekly Expected Move ±3.1%

$9 $10 $10 $10 $11

NASDAQ · Financial Services · Banks - Regional · Tech Score Strong Sell · Power 33 · $94.5M mcap · 8M float · 0.323% daily turnover · Short 31% 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

28.9 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 0.8% · 5Y Avg: -67.9%

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. FNWB has No discernible competitive edge (28.9/100). The business operates without significant structural advantages. The primary source of advantage is Intangible Assets. ROIC of 0.8% 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

$15

Low

$15

Avg Target

$15

High

Based on 1 analyst since Jul 29, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 1Hold: 0Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$15.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-07-31	Piper Sandler	—	$8	$15	+7	+27.0%	$11.81
2025-07-10	Piper Sandler	Nathan Race	$11	$8	-3	+1.3%	$7.90
2024-10-28	Piper Sandler	Nathan Race	$12	$11	-0	+8.2%	$10.17
2024-07-30	Piper Sandler	Nathan Race	$12	$12	-0	+12.3%	$10.24
2024-05-01	Piper Sandler	Nathan Race	Initiated	$12	—	+15.9%	$10.35

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 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. FNWB receives an overall rating of B-. Strongest factors: ROA (4/5), P/B (4/5). Areas of concern: ROE (2/5), D/E (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-10-01	C+	B-
2026-07-29	B-	C+
2026-05-14	C+	B-
2026-05-04	B-	C+
2026-04-29	C	B-
2026-02-04	D+	C
2026-02-02	C	D+
2026-01-22	C-	C
2026-01-22	C	C-
2026-01-16	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.

★ ★ ★ ★ ★ 39 Grade C

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. FNWB scores highest in Momentum (76/100) and lowest in Profitability (21/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

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

Altman-B Score

1.87

Grey Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✓ ✗ ✓ ✗

Beneish M-Score

-2.66

Unlikely Manipulator

Ohlson O-Score

-6.08

Bankruptcy prob: 0.2%

Low Risk

Credit Rating

Score: 41.8/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 11.61x

Accruals: -0.7%

The Altman-B Score replaces the traditional Z-Score for banks and financial institutions. It weights equity-to-assets, return on assets, retained earnings, market value coverage, and cash reserves — metrics that better capture bank solvency than manufacturing-oriented ratios. FNWB scores 1.87, placing it in the Grey Zone (safe > 3.0, distress < 1.5). Financial distress is possible and warrants monitoring. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. FNWB 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. FNWB's score of -2.66 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. FNWB's implied 0.2% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. FNWB receives an estimated rating of BB (score: 41.8/100), with a improving 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). FNWB'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

61.92x

PEG

0.93x

P/S

0.93x

P/B

0.56x

P/FCF

5.99x

P/OCF

5.54x

EV/EBITDA

121.69x

EV/Revenue

1.21x

EV/EBIT

355.97x

EV/FCF

7.70x

Earnings Yield

1.55%

FCF Yield

16.70%

Shareholder Yield

0.07%

Graham Number

$8.20

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 61.9x earnings, FNWB is priced for high growth expectations. Graham's intrinsic value formula yields $8.20 per share, 21% 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

4.305

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

0.003

EBIT / Rev

Asset Turnover

0.047

Rev / Assets

Equity Multiplier

14.025

Assets / Equity

ROE

1.0%

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. FNWB's ROE of 1.0% is driven by financial leverage (equity multiplier: 14.02x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 4.30 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

$1.43

Price/Value

7.57x

Margin of Safety

-656.60%

Premium

656.60%

Assessment

Overvalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with FNWB's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. FNWB trades at a 657% premium to its adjusted intrinsic value of $1.43, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 61.9x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$9.95

Median 1Y

$8.75

5th Pctile

$4.70

95th Pctile

$16.28

Ann. Volatility

39.0%

Analyst Target

$15.00

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
MATTHEW P. DEINES \| Former President and Chief Executive Officer (through July 12, 2025)	$310,734	$259,013	$1,116,357
GERALDINE L. BULLARD \| Former Executive Vice President, Interim Chief Executive Officer and Chief Operating Officer (through February 4, 2026)	$379,407	$155,291	$813,253
CURT T. QUEYROUZE \| President and Chief Executive Officer	$133,269	$393,500	$631,886
CHRISTOPHER J. RIFFLE \| Former Executive Vice President, Chief Strategy Officer / General Counsel (through August 8, 2025)	$224,423	$91,008	$615,310
DAVID B. EDELSTEIN \| Executive Vice President, Chief Innovation Officer	$343,846	$91,008	$500,399
KYLE D. HENDERSON \| Executive Vice President, Chief Credit Officer	$278,461	$67,921	$407,977

CEO Pay Ratio

14:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $1,116,357

Avg Employee Cost (SGA/emp): $80,533

Employees: 242

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

242

+6.6% YoY

Revenue / Employee

$442,946

Rev: $107,193,000

Profit / Employee

$-17,318

NI: $-4,191,000

SGA / Employee

$80,533

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	7.7%	8.2%	8.4%	8.2%	8.5%	8.9%	9.5%	9.6%	8.8%	1.4%	-0.5%	-3.0%	-5.9%	-4.2%	-10.5%	-6.5%	-4.7%	-2.7%	3.2%	1.0%	0.97%
ROA	0.8%	0.9%	0.8%	0.8%	0.7%	0.8%	0.8%	0.7%	0.7%	0.1%	-0.0%	-0.2%	-0.4%	-0.3%	-0.7%	-0.5%	-0.3%	-0.2%	0.2%	0.1%	0.07%
ROIC	-12.0%	-9.4%	-14.7%	-52.8%	68.9%	18.1%	19.7%	23.3%	21.4%	3.0%	-0.5%	-6.0%	-7.9%	-6.3%	-3.8%	-5.0%	-4.8%	-2.4%	1.2%	0.8%	0.81%
ROCE	5.8%	5.8%	4.8%	3.9%	3.4%	5.9%	3.2%	3.8%	3.3%	0.8%	-0.1%	-1.1%	-2.9%	-1.9%	-5.1%	-3.0%	-2.2%	-0.5%	1.3%	0.0%	0.02%
Gross Margin	89.9%	94.3%	92.7%	89.5%	85.3%	81.4%	74.7%	64.0%	60.8%	43.3%	51.3%	17.6%	42.2%	39.9%	32.2%	57.1%	59.6%	37.3%	59.9%	60.9%	60.88%
Operating Margin	23.8%	27.6%	15.8%	9.5%	19.0%	25.4%	16.7%	8.0%	10.8%	-29.4%	2.9%	-9.9%	-10.6%	-8.3%	-33.2%	13.5%	-0.5%	2.6%	-1.1%	1.2%	1.18%
Net Margin	19.8%	23.3%	14.5%	11.7%	18.4%	22.4%	13.8%	6.5%	8.7%	-23.6%	1.3%	-7.9%	-6.6%	-9.5%	-29.5%	12.5%	2.8%	2.1%	0.0%	1.1%	1.12%
EBITDA Margin	23.7%	30.3%	17.8%	12.4%	21.5%	27.3%	18.2%	9.5%	12.2%	-27.6%	4.2%	-8.6%	-9.5%	-7.2%	-32.1%	14.6%	-0.4%	4.3%	0.0%	1.2%	1.18%
FCF Margin	20.6%	11.5%	10.3%	15.7%	15.0%	14.3%	18.1%	22.4%	14.8%	15.5%	4.7%	2.4%	5.8%	14.3%	-0.0%	-3.5%	-0.5%	-2.6%	18.8%	15.8%	15.76%
OCF Margin	26.3%	19.1%	19.2%	23.2%	20.3%	17.5%	20.0%	23.7%	16.1%	17.0%	5.7%	3.0%	6.3%	14.4%	-0.0%	-3.5%	-0.5%	-2.6%	19.1%	17.0%	17.03%
ROE 3Y Avg	snapshot only																				-2.94%
ROE 5Y Avg	snapshot only																				1.94%
ROA 3Y Avg	snapshot only																				-0.20%
ROIC Economic	snapshot only																				0.31%
Cash ROA	snapshot only																				0.82%
Cash ROIC	snapshot only																				9.36%
CROIC	snapshot only																				8.66%
NOPAT Margin	snapshot only																				1.47%
Pretax Margin	snapshot only																				0.34%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				14.20%
SBC / Revenue	snapshot only																				0.54%

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	10.62	11.15	12.53	9.14	9.39	8.44	5.95	6.19	7.56	59.88	-159.30	-17.12	-9.85	-13.37	-5.50	-6.63	-9.50	-21.37	15.92	64.31	61.917
P/S Ratio	1.97	2.17	2.33	1.60	1.61	1.45	1.00	0.94	0.97	1.30	1.24	0.76	0.83	0.76	0.75	0.56	0.59	0.84	0.74	0.94	0.926
P/B Ratio	0.80	0.90	1.06	0.80	0.87	0.81	0.59	0.61	0.67	0.84	0.84	0.51	0.57	0.57	0.60	0.45	0.45	0.57	0.49	0.61	0.560
P/FCF	9.61	18.82	22.65	10.14	10.75	10.14	5.53	4.18	6.53	8.40	26.45	31.81	14.34	5.27	-2101.46	-15.96	-120.50	-32.48	3.96	5.99	5.989
P/OCF	7.51	11.34	12.12	6.89	7.91	8.28	5.00	3.96	6.00	7.66	21.67	25.07	13.20	5.25	—	—	—	—	3.89	5.54	5.540
EV/EBITDA	-8.48	-9.08	-4.54	-3.29	-0.17	2.44	0.35	-0.01	0.67	10.59	120.94	1.08	-4.87	-4.75	-19.25	-10.05	-7.90	-26.40	62.30	121.69	121.687
EV/Revenue	-2.01	-2.26	-1.07	-0.70	-0.03	0.49	0.07	-0.00	0.11	0.43	0.95	-0.04	0.46	0.25	2.80	0.89	0.52	1.20	2.98	1.21	1.213
EV/EBIT	-9.11	-9.85	-4.91	-3.61	-0.19	2.75	0.39	-0.01	0.74	16.99	-137.23	0.78	-4.26	-3.86	-17.84	-8.93	-6.99	-21.88	77.85	355.97	355.969
EV/FCF	-9.79	-19.59	-10.37	-4.43	-0.23	3.45	0.39	-0.01	0.75	2.79	20.20	-1.71	7.97	1.74	-7883.65	-25.06	-105.71	-46.53	15.90	7.70	7.700
Earnings Yield	9.4%	9.0%	8.0%	10.9%	10.6%	11.9%	16.8%	16.1%	13.2%	1.7%	-0.6%	-5.8%	-10.2%	-7.5%	-18.2%	-15.1%	-10.5%	-4.7%	6.3%	1.6%	1.55%
FCF Yield	10.4%	5.3%	4.4%	9.9%	9.3%	9.9%	18.1%	23.9%	15.3%	11.9%	3.8%	3.1%	7.0%	19.0%	-0.0%	-6.3%	-0.8%	-3.1%	25.3%	16.7%	16.70%
PEG Ratio	snapshot only																				0.927
Price/Tangible Book	snapshot only																				0.625
EV/OCF	snapshot only																				7.123
EV/Gross Profit	snapshot only																				2.166
Acquirers Multiple	snapshot only																				355.969
Shareholder Yield	snapshot only																				0.07%
Graham Number	snapshot only																				$8.20

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	0.28	0.31	0.32	0.30	0.29	0.23	0.31	0.26	0.24	0.23	0.25	0.23	0.22	0.23	0.05	1.10	1.12	2.26	0.07	6.04	6.037
Quick Ratio	0.28	0.31	0.32	0.30	0.29	0.23	0.31	0.26	0.24	0.23	0.25	0.23	0.22	0.23	0.05	1.10	1.12	2.26	0.07	6.04	6.037
Debt/Equity	0.53	0.62	1.03	1.49	1.84	1.77	2.32	1.90	1.92	2.00	2.31	1.86	2.19	2.30	2.21	2.41	1.87	2.06	2.19	2.08	2.080
Net Debt/Equity	-1.61	-1.84	-1.55	-1.15	-0.89	-0.54	-0.55	-0.61	-0.59	-0.56	-0.20	-0.54	-0.25	-0.38	1.66	0.26	-0.06	0.25	1.48	0.17	0.174
Debt/Assets	0.05	0.06	0.09	0.12	0.14	0.14	0.17	0.14	0.14	0.15	0.17	0.14	0.16	0.16	0.15	0.16	0.14	0.15	0.16	0.15	0.155
Debt/EBITDA	5.51	6.05	9.65	14.08	16.52	15.51	19.33	15.49	16.58	76.31	436.49	-73.24	-33.68	-57.56	-18.86	-34.27	-37.20	-66.79	69.23	323.39	323.395
Net Debt/EBITDA	-16.80	-17.80	-14.45	-10.82	-7.96	-4.72	-4.60	-4.94	-5.12	-21.31	-37.42	21.14	3.89	9.65	-14.12	-3.65	1.11	-7.97	46.78	27.05	27.052
Interest Coverage	3.18	3.38	3.13	2.71	2.16	1.55	1.09	0.74	0.51	0.07	-0.02	-0.11	-0.22	-0.13	-0.33	-0.22	-0.17	-0.12	0.08	0.01	0.008
Equity Multiplier	9.83	10.06	10.89	12.17	13.15	12.64	13.27	13.56	13.80	13.48	13.96	13.66	14.03	14.50	14.86	14.66	13.66	13.40	13.59	13.42	13.422
Cash Ratio	snapshot only																				0.956
Debt Service Coverage	snapshot only																				0.022
Cash to Debt	snapshot only																				0.916
FCF to Debt	snapshot only																				0.049
Defensive Interval	snapshot only																				12238.2 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	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.047
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover (trade)	11.56	12.94	13.61	14.22	13.78	15.08	15.04	15.51	14.72	14.34	13.51	12.94	13.02	14.58	13.71	0.14	0.15	0.13	13.52	0.06	0.063
Payables Turnover	192.70	30.15	133.77	15.29	123.57	28.42	65.69	27.01	27.33	21.18	29.17	27.50	30.74	21.68	31.61	29.36	38.04	25.02	38.26	53.94	53.936
DSO (trade)	32	28	27	26	26	24	24	24	25	25	27	28	28	25	27	2545	2507	2769	27	5827	5827.1 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	2	12	3	24	3	13	6	14	13	17	13	13	12	17	12	12	10	15	10	7	6.8 days
Cash Conversion Cycle (trade)	30	16	24	2	24	11	19	10	11	8	15	15	16	8	15	2533	2497	2755	17	5820	5820.3 days
Fixed Asset Turnover	snapshot only																				4.216
Cash Velocity	snapshot only																				0.338
Capital Intensity	snapshot only																				20.813

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	20.4%	17.4%	15.2%	14.4%	12.8%	14.4%	19.4%	23.3%	26.7%	15.7%	12.2%	6.5%	2.2%	11.5%	8.6%	8.9%	6.7%	-8.4%	-12.0%	-14.5%	-14.48%
Net Income	61.4%	49.1%	20.0%	7.3%	4.0%	1.2%	8.1%	7.0%	-5.5%	-85.4%	-1.1%	-1.3%	-1.7%	-3.9%	-18.0%	-1.1%	20.8%	36.6%	1.3%	1.1%	1.15%
EPS	61.6%	51.0%	20.3%	8.3%	5.3%	2.2%	11.6%	9.8%	-3.3%	-85.1%	-1.1%	-1.3%	-1.7%	-3.9%	-18.3%	-1.1%	22.2%	41.7%	1.3%	1.1%	1.14%
FCF	2.3%	-8.8%	-42.4%	15.1%	-17.9%	42.2%	1.1%	75.8%	25.3%	25.5%	-71.0%	-88.7%	-60.1%	3.0%	-1.0%	-2.6%	-1.1%	-1.2%	465.2%	4.8%	4.81%
EBITDA	37.6%	31.9%	9.1%	-4.1%	-1.8%	-6.7%	2.8%	10.7%	2.4%	-76.7%	-95.7%	-1.2%	-1.6%	-2.4%	-21.2%	-1.5%	25.7%	20.9%	1.3%	1.1%	1.10%
Op. Income	47.9%	36.7%	11.6%	-4.5%	-7.4%	-10.1%	-0.5%	9.9%	5.7%	-83.6%	-1.0%	-1.3%	-1.7%	-3.8%	-23.7%	-1.1%	26.6%	22.4%	1.2%	1.0%	1.03%
OCF Growth	snapshot only																				5.20%
Asset Growth	snapshot only																				-3.21%
Equity Growth	snapshot only																				5.73%
Debt Growth	snapshot only																				-8.64%
Shares Change	snapshot only																				1.88%
Dividend Growth	snapshot only																				-99.28%

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	16.8%	15.3%	15.2%	15.2%	15.3%	17.2%	19.5%	20.3%	19.8%	15.8%	15.5%	14.5%	13.5%	13.8%	13.3%	12.6%	11.4%	5.7%	2.3%	-0.3%	-0.30%
Revenue 5Y	13.9%	14.7%	13.9%	14.2%	13.9%	15.5%	16.7%	17.3%	17.9%	15.2%	15.4%	14.9%	14.7%	15.8%	15.8%	15.1%	13.4%	9.7%	8.1%	6.9%	6.93%
EPS 3Y	47.0%	33.8%	28.3%	23.9%	21.8%	22.4%	32.0%	29.5%	18.0%	-38.7%	—	—	—	—	—	—	—	—	-33.2%	-54.2%	-54.19%
EPS 5Y	37.1%	36.0%	28.2%	28.2%	21.8%	31.7%	35.8%	30.5%	26.5%	-18.2%	—	—	—	—	—	—	—	—	-16.7%	-35.2%	-35.20%
Net Income 3Y	42.6%	29.5%	24.7%	20.5%	18.0%	20.1%	28.6%	27.3%	16.6%	-39.5%	—	—	—	—	—	—	—	—	-33.3%	-54.2%	-54.23%
Net Income 5Y	32.8%	31.7%	24.0%	23.3%	18.7%	25.9%	30.6%	27.1%	23.3%	-20.3%	—	—	—	—	—	—	—	—	-17.4%	-35.7%	-35.68%
EBITDA 3Y	36.2%	24.5%	19.9%	14.4%	12.2%	13.2%	21.1%	20.7%	11.4%	-34.0%	-63.5%	—	—	—	—	—	—	—	-36.7%	-62.7%	-62.68%
EBITDA 5Y	23.8%	23.1%	17.8%	16.5%	13.1%	20.1%	24.2%	22.9%	20.5%	-15.9%	-40.2%	—	—	—	—	—	—	—	-22.2%	-44.0%	-43.99%
Gross Profit 3Y	19.0%	20.5%	21.3%	21.6%	21.1%	21.2%	21.9%	19.4%	15.2%	5.4%	0.1%	-9.6%	-14.4%	-15.0%	-19.4%	-12.6%	-10.4%	-13.6%	-10.5%	-10.0%	-9.95%
Gross Profit 5Y	14.8%	16.3%	15.6%	15.9%	15.1%	14.8%	15.2%	14.3%	13.4%	9.1%	7.5%	2.3%	-0.4%	0.1%	-2.3%	2.1%	2.3%	-1.5%	-0.9%	-2.4%	-2.37%
Op. Income 3Y	25.4%	27.9%	22.8%	16.4%	12.4%	13.8%	22.9%	23.9%	13.1%	-41.4%	—	—	—	—	—	—	—	—	-39.0%	-73.0%	-73.02%
Op. Income 5Y	28.5%	26.8%	20.5%	18.9%	13.8%	13.1%	16.7%	15.9%	14.1%	-21.0%	—	—	—	—	—	—	—	—	-24.1%	-54.0%	-53.99%
FCF 3Y	16.2%	-4.5%	-10.6%	-2.6%	1.0%	-2.3%	40.9%	48.1%	50.5%	17.6%	-29.5%	-38.9%	-25.7%	22.5%	—	—	—	—	3.6%	-11.4%	-11.38%
FCF 5Y	32.3%	21.6%	10.3%	1.4%	5.9%	7.2%	10.2%	22.5%	10.0%	9.2%	-15.3%	-28.8%	-12.4%	3.8%	—	—	—	—	6.1%	7.1%	7.09%
OCF 3Y	14.0%	4.4%	4.7%	7.7%	11.0%	3.4%	41.3%	45.5%	39.9%	14.7%	-27.7%	-39.6%	-29.6%	3.6%	—	—	—	—	0.7%	-10.7%	-10.72%
OCF 5Y	27.8%	25.9%	20.1%	76.3%	10.7%	8.8%	8.7%	16.9%	5.3%	6.0%	-14.5%	-26.6%	-11.4%	3.2%	—	—	—	—	3.8%	3.0%	3.02%
Assets 3Y	14.2%	15.1%	15.0%	17.3%	18.7%	16.0%	15.9%	13.5%	11.2%	10.0%	8.9%	7.5%	6.9%	5.1%	3.8%	2.6%	0.3%	1.1%	-0.6%	-0.6%	-0.59%
Assets 5Y	12.0%	13.0%	12.5%	13.3%	12.7%	10.9%	12.8%	12.4%	11.7%	11.8%	11.9%	12.0%	12.5%	11.3%	9.3%	8.2%	6.2%	5.0%	4.2%	3.5%	3.52%
Equity 3Y	3.0%	3.5%	1.0%	-1.8%	-3.6%	-3.0%	-0.7%	-3.3%	-4.8%	-4.3%	-4.1%	-4.9%	-5.0%	-6.9%	-6.4%	-3.6%	-1.0%	-0.9%	-1.4%	-0.3%	-0.26%
Book Value 3Y	6.2%	7.0%	3.9%	0.9%	-0.5%	-1.1%	2.0%	-1.6%	-3.6%	-3.0%	-2.9%	-3.2%	-3.3%	-5.5%	-4.7%	-2.0%	-0.1%	-2.5%	-1.2%	-0.2%	-0.19%
Dividend 3Y	10.3%	8.6%	8.1%	7.6%	7.6%	5.2%	4.4%	2.4%	0.8%	0.3%	0.5%	0.9%	0.9%	0.8%	0.8%	0.6%	-8.8%	-22.0%	-36.5%	-80.6%	-80.60%

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	0.95	0.96	0.94	0.95	0.97	0.98	0.96	0.95	0.95	0.98	0.99	0.98	0.96	1.00	1.00	0.98	0.95	0.84	0.71	0.60	0.596
Earnings Stability	0.84	0.94	0.88	0.87	0.86	0.95	0.96	0.91	0.83	0.00	0.02	0.08	0.19	0.41	0.46	0.48	0.53	0.70	0.42	0.56	0.557
Margin Stability	0.94	0.94	0.93	0.93	0.93	0.94	0.94	0.92	0.90	0.86	0.82	0.75	0.71	0.69	0.65	0.67	0.67	0.67	0.65	0.67	0.670
Rev. Growth Consistency	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	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.80	0.92	0.97	0.98	1.00	0.97	0.97	0.98	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.20	0.20	0.200
Earnings Smoothness	0.53	0.61	0.82	0.93	0.96	0.99	0.92	0.93	0.94	0.00	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	0.03	0.03	0.03	0.03	0.03	0.03	0.02	0.02	0.01	-0.07	-0.10	-0.12	-0.15	-0.10	-0.16	-0.10	-0.06	-0.01	0.09	0.06	0.058
Gross Margin Trend	0.11	0.12	0.11	0.09	0.06	0.00	-0.06	-0.14	-0.20	-0.28	-0.32	-0.40	-0.42	-0.36	-0.36	-0.17	-0.07	-0.02	0.11	0.13	0.129
FCF Margin Trend	0.06	-0.08	-0.06	0.02	0.01	0.01	0.03	0.07	-0.03	0.03	-0.10	-0.17	-0.09	-0.01	-0.11	-0.16	-0.11	-0.18	0.16	0.16	0.163
Sustainable Growth Rate	6.3%	6.8%	6.9%	6.7%	6.9%	7.3%	7.9%	7.9%	7.1%	-0.3%	—	—	—	—	—	—	—	—	2.8%	1.0%	0.96%
Internal Growth Rate	0.7%	0.7%	0.7%	0.6%	0.6%	0.7%	0.7%	0.6%	0.5%	—	—	—	—	—	—	—	—	—	0.2%	0.1%	0.07%

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	1.42	0.98	1.03	1.33	1.19	1.02	1.19	1.56	1.26	7.82	-7.35	-0.68	-0.75	-2.55	0.00	0.41	0.08	0.66	4.10	11.61	11.609
FCF/OCF	0.78	0.60	0.54	0.68	0.74	0.82	0.90	0.95	0.92	0.91	0.82	0.79	0.92	1.00	1.91	1.02	1.02	1.00	0.98	0.93	0.925
FCF/Net Income	snapshot only																				10.739
OCF/EBITDA	snapshot only																				17.083
CapEx/Revenue	5.7%	7.6%	8.9%	7.4%	5.4%	3.2%	1.9%	1.3%	1.3%	1.5%	1.0%	0.7%	0.5%	0.1%	0.0%	0.1%	0.0%	0.0%	0.4%	1.3%	1.28%
CapEx/Depreciation	snapshot only																				1.945
Accruals Ratio	-0.00	0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.01	-0.00	-0.00	-0.01	-0.01	-0.01	-0.00	-0.00	-0.00	-0.01	-0.01	-0.007
Sloan Accruals	snapshot only																				0.653
Cash Flow Adequacy	snapshot only																				13.154
Earnings Quality Score	snapshot only																				1.000

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	1.6%	1.5%	1.4%	2.0%	2.0%	2.1%	2.8%	2.8%	2.6%	2.0%	2.0%	3.2%	2.9%	3.0%	3.0%	3.9%	2.8%	1.5%	0.9%	0.0%	0.00%
Dividend/Share	$0.26	$0.28	$0.28	$0.29	$0.30	$0.31	$0.31	$0.31	$0.31	$0.30	$0.30	$0.31	$0.30	$0.30	$0.30	$0.30	$0.22	$0.14	$0.08	$0.00	$0.00
Payout Ratio	17.3%	16.4%	17.4%	18.5%	18.9%	17.9%	16.9%	17.6%	19.8%	1.2%	—	—	—	—	—	—	—	—	13.8%	1.3%	1.27%
FCF Payout Ratio	15.7%	27.7%	31.4%	20.5%	21.6%	21.5%	15.7%	11.9%	17.1%	16.6%	53.0%	1.0%	41.6%	15.7%	—	—	—	—	3.4%	0.1%	0.12%
Total Payout Ratio	54.1%	55.2%	42.6%	48.4%	40.6%	52.7%	54.0%	53.1%	50.6%	1.7%	—	—	—	—	—	—	—	—	14.9%	4.6%	4.61%
Div. Increase Streak	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	0.24	0.17	0.17	0.17	0.15	0.12	0.08	0.05	0.01	-0.01	-0.00	0.01	0.00	0.01	0.00	0.01	-0.23	-0.49	-0.74	-0.99	-0.993
Buyback Yield	3.5%	3.5%	2.0%	3.3%	2.3%	4.1%	6.2%	5.7%	4.1%	0.8%	2.6%	3.9%	4.6%	4.4%	1.0%	1.4%	0.1%	0.1%	0.1%	0.1%	0.05%
Net Buyback Yield	3.5%	3.5%	2.0%	3.3%	2.3%	4.1%	6.2%	5.7%	4.1%	0.8%	2.6%	3.9%	4.6%	4.4%	1.0%	1.4%	0.1%	0.1%	0.1%	0.1%	0.05%
Total Shareholder Return	5.1%	5.0%	3.4%	5.3%	4.3%	6.2%	9.1%	8.6%	6.7%	2.8%	4.6%	7.1%	7.5%	7.4%	4.0%	5.3%	2.9%	1.6%	0.9%	0.1%	0.07%

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)	0.84	0.85	0.86	0.91	0.94	0.96	0.93	0.88	0.84	0.85	1.13	0.85	0.78	0.88	0.86	0.86	0.84	0.71	1.22	4.30	4.305
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	1.00	1.00	1.000
EBIT Margin	0.22	0.23	0.22	0.19	0.18	0.18	0.18	0.17	0.15	0.03	-0.01	-0.05	-0.11	-0.06	-0.16	-0.10	-0.07	-0.05	0.04	0.00	0.003
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.047
Equity Multiplier	9.26	9.48	10.21	10.74	11.35	11.24	12.03	12.85	13.47	13.06	13.61	13.61	13.92	13.98	14.39	14.14	13.85	13.95	14.20	14.02	14.025

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)	$1.52	$1.68	$1.64	$1.59	$1.61	$1.71	$1.83	$1.75	$1.55	$0.26	$-0.09	$-0.55	$-1.06	$-0.75	$-1.83	$-1.16	$-0.83	$-0.44	$0.55	$0.17	$0.17
Book Value/Share	$20.29	$20.78	$19.36	$18.21	$17.40	$17.74	$18.31	$17.86	$17.47	$18.29	$18.02	$18.49	$18.36	$17.52	$16.75	$17.12	$17.34	$16.47	$17.65	$17.76	$17.76
Tangible Book/Share	$19.84	$20.30	$18.79	$17.66	$16.85	$17.20	$17.72	$17.31	$16.93	$17.75	$17.47	$17.94	$17.83	$17.03	$16.25	$16.63	$16.87	$16.04	$17.19	$17.31	$17.31
Revenue/Share	$8.21	$8.63	$8.81	$9.11	$9.37	$9.96	$10.85	$11.53	$12.15	$11.75	$12.22	$12.48	$12.67	$13.33	$13.50	$13.65	$13.28	$11.22	$11.68	$11.46	$11.46
FCF/Share	$1.69	$0.99	$0.91	$1.43	$1.40	$1.43	$1.96	$2.59	$1.80	$1.83	$0.57	$0.30	$0.73	$1.91	$-0.00	$-0.48	$-0.07	$-0.29	$2.19	$1.81	$1.81
OCF/Share	$2.16	$1.65	$1.69	$2.11	$1.91	$1.75	$2.17	$2.74	$1.96	$2.00	$0.70	$0.38	$0.79	$1.92	$-0.00	$-0.47	$-0.06	$-0.29	$2.23	$1.95	$1.95
Cash/Share	$43.44	$51.17	$49.89	$48.11	$47.39	$40.87	$52.54	$44.82	$44.01	$46.90	$45.28	$44.36	$44.95	$47.01	$9.32	$36.81	$33.48	$29.93	$12.56	$33.85	$33.85
EBITDA/Share	$1.95	$2.15	$2.07	$1.93	$1.94	$2.02	$2.20	$2.19	$2.03	$0.48	$0.10	$-0.47	$-1.20	$-0.70	$-1.97	$-1.20	$-0.87	$-0.51	$0.56	$0.11	$0.11
Debt/Share	$10.73	$12.98	$19.97	$27.20	$31.99	$31.34	$42.44	$33.97	$33.62	$36.66	$41.70	$34.43	$40.29	$40.26	$37.08	$41.20	$32.51	$33.99	$38.72	$36.94	$36.94
Net Debt/Share	$-32.72	$-38.19	$-29.91	$-20.91	$-15.40	$-9.53	$-10.10	$-10.85	$-10.39	$-10.24	$-3.58	$-9.94	$-4.66	$-6.75	$27.76	$4.39	$-0.97	$4.06	$26.16	$3.09	$3.09

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-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.871
Altman Z-Prime	snapshot only																				5.103
Piotroski F-Score	8	7	7	6	6	5	6	6	6	5	5	5	3	5	4	5	6	4	6	7	7
Beneish M-Score	-2.67	-2.69	-2.49	-2.43	-2.25	-1.97	-2.01	-1.93	-2.00	-2.12	-1.99	-0.84	-2.18	-2.38	-2.19	150.01	168.62	288.78	-2.79	-2.66	-2.662
Ohlson O-Score	snapshot only																				-6.077
ROIC (Greenblatt)	snapshot only																				0.02%
Net-Net WC	snapshot only																				$-6.80
EVA	snapshot only																				$-17087200.00

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																				BB
Credit Score	50.50	54.50	47.88	46.44	43.22	38.91	42.85	40.56	40.79	30.23	24.04	24.61	23.72	23.38	14.62	22.26	23.03	26.93	24.78	41.79	41.795
Credit Grade	snapshot only																				12
Credit Trend	snapshot only																				19.540
Implied Spread (bps)	snapshot only																				475.000
Industry Credit Rank	snapshot only																				23
Sector Credit Rank	snapshot only																				27

FNWB 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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