$42.38

+0.53 (+1.27%)

Weekly Expected Move ±2.6%

$40 $41 $42 $43 $45

NASDAQ · Financial Services · Banks - Regional · Tech Score Sell · Power 43 · $183.6M mcap · 3M float · 0.590% daily turnover · Short 45% 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

37.8 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: -18.2%

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. FNWD has No discernible competitive edge (37.8/100). The business operates without significant structural advantages. The primary source of advantage is Intangible Assets. Negative ROIC of -18.2% 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

$41

Avg Target

$41

High

Based on 1 analyst ratings (12 mo)

Analyst Recommendations

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

Rating Summary

ConsensusBuy

Avg Target$41.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-03-27	Stephens	Brandon Rud	Initiated	$41	—	+16.3%	$35.26

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.

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

Rating Change History

Date	From	To
2026-10-01	B-	B
2026-08-10	B	B-
2026-08-04	B-	B
2026-07-16	B	B-
2026-07-02	B-	B
2026-04-29	C	B-
2026-04-28	B-	C
2026-04-24	B	B-
2026-04-01	B-	B
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.

★ ★ ★ ★ ★ 53 Grade A

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. FNWD scores highest in Momentum (85/100) and lowest in Profitability (38/100). An overall grade of A places FNWD among the highest-quality companies in its peer group.

Risk & Quality Signals

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

Altman-B Score

2.49

Grey Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✗ ✓ ✗ ✓ ✓

Beneish M-Score

177.13

Possible Manipulator

Ohlson O-Score

-5.99

Bankruptcy prob: 0.2%

Low Risk

Credit Rating

BBB

Score: 59.1/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 1.76x

Accruals: -0.4%

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. FNWD scores 2.49, 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. FNWD 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. FNWD's score of 177.13 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. FNWD'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. FNWD receives an estimated rating of BBB (score: 59.1/100), 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). FNWD'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

18.51x

PEG

0.22x

P/S

1.80x

P/B

1.02x

P/FCF

9.58x

P/OCF

9.14x

EV/EBITDA

-5.01x

EV/Revenue

-0.73x

EV/EBIT

-7.05x

EV/FCF

-4.48x

Earnings Yield

6.20%

FCF Yield

10.44%

Shareholder Yield

1.31%

Graham Number

$46.12

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 18.5x earnings, FNWD trades at a reasonable valuation. An earnings yield of 6.2% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $46.12 per share, suggesting a potential 9% 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

0.935

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

0.103

EBIT / Rev

Asset Turnover

0.050

Rev / Assets

Equity Multiplier

12.325

Assets / Equity

ROE

5.9%

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. FNWD's ROE of 5.9% is driven by financial leverage (equity multiplier: 12.33x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 0.93 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

15.00%

Fair P/E

38.50x

Intrinsic Value

$87.84

Price/Value

0.42x

Margin of Safety

58.13%

Premium

-58.13%

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 FNWD's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. FNWD trades at a -58% premium to its adjusted intrinsic value of $87.84, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 18.5x.

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

$42.38

Median 1Y

$41.70

5th Pctile

$26.90

95th Pctile

$64.61

Ann. Volatility

27.2%

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

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
Benjamin J. Bochnowski President and Chief Executive Officer	$416,146	$—	$480,686
Todd M. Scheub Executive Vice President, Chief Revenue Officer; President of Peoples Bank	$316,113	$6,849	$372,237
Robert T. Lowry Executive Vice President, Chief Operating Officer	$275,774	$5,250	$326,795
Benjamin L. Schmitt Executive Vice President, Chief Financial Officer and Treasurer	$250,169	$4,690	$289,516

CEO Pay Ratio

4:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $480,686

Avg Employee Cost (SGA/emp): $127,530

Employees: 296

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

296

+1.0% YoY

Revenue / Employee

$341,422

Rev: $101,060,999

Profit / Employee

$27,321

NI: $8,087,000

SGA / Employee

$127,530

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	10.0%	9.7%	8.2%	9.2%	10.7%	10.3%	10.2%	9.7%	9.1%	5.9%	10.6%	9.2%	8.3%	8.1%	2.2%	3.5%	5.0%	5.0%	6.1%	5.9%	5.90%
ROA	1.0%	1.0%	0.7%	0.7%	0.8%	0.8%	0.7%	0.6%	0.5%	0.4%	0.7%	0.6%	0.6%	0.6%	0.2%	0.3%	0.4%	0.4%	0.5%	0.5%	0.48%
ROIC	-3.9%	-3.8%	-3.7%	-4.2%	-7.1%	-11.4%	-9.1%	-8.9%	-7.6%	-4.4%	-7.7%	-5.7%	-5.3%	-8.2%	2.6%	5.4%	7.5%	-10.8%	6.9%	-18.2%	-18.18%
ROCE	11.0%	10.5%	8.6%	10.6%	9.1%	6.5%	6.3%	4.5%	4.3%	3.1%	5.6%	4.8%	4.2%	5.2%	1.6%	2.3%	3.5%	0.8%	4.0%	0.5%	0.52%
Gross Margin	96.4%	96.5%	98.1%	97.9%	95.1%	86.6%	73.8%	67.1%	63.2%	58.7%	71.2%	58.9%	58.7%	64.3%	61.4%	66.7%	67.3%	66.7%	69.3%	68.0%	68.00%
Operating Margin	22.6%	19.9%	12.7%	24.3%	24.2%	17.6%	11.3%	10.3%	7.4%	4.6%	28.9%	0.5%	1.6%	10.1%	2.5%	8.3%	13.6%	7.3%	10.6%	9.6%	9.65%
Net Margin	21.0%	19.9%	11.2%	21.5%	21.5%	17.4%	9.8%	9.9%	9.1%	6.0%	26.2%	0.6%	2.4%	8.0%	1.9%	8.5%	13.3%	8.0%	8.9%	8.2%	8.22%
EBITDA Margin	29.4%	27.6%	18.9%	33.7%	31.7%	23.2%	16.0%	19.4%	14.7%	13.0%	33.7%	7.5%	9.8%	16.8%	9.0%	14.8%	19.1%	13.4%	15.9%	9.6%	9.65%
FCF Margin	21.8%	20.9%	-3.8%	6.2%	9.5%	17.6%	21.7%	30.3%	29.0%	23.9%	17.0%	6.2%	-2.2%	6.0%	3.4%	6.7%	11.8%	8.6%	15.9%	16.2%	16.23%
OCF Margin	25.7%	25.6%	2.0%	12.7%	15.6%	21.3%	24.1%	31.8%	30.2%	25.1%	18.5%	9.0%	0.8%	8.8%	6.0%	7.9%	12.6%	9.8%	17.1%	17.0%	17.02%
ROE 3Y Avg	snapshot only																				5.93%
ROE 5Y Avg	snapshot only																				7.45%
ROA 3Y Avg	snapshot only																				0.46%
ROIC Economic	snapshot only																				3.61%
Cash ROA	snapshot only																				0.85%
NOPAT Margin	snapshot only																				9.65%
Pretax Margin	snapshot only																				10.32%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				33.95%
SBC / Revenue	snapshot only																				0.34%

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	8.48	9.64	13.43	11.00	9.27	9.61	7.84	6.77	8.42	12.56	6.62	7.79	11.64	9.84	37.24	22.16	16.76	18.72	15.82	16.12	18.507
P/S Ratio	1.89	2.16	2.46	2.02	1.73	1.73	1.36	0.98	0.97	1.09	0.93	0.94	1.22	1.07	1.22	1.16	1.34	1.50	1.54	1.56	1.805
P/B Ratio	0.84	0.92	1.07	1.08	1.13	1.06	0.85	0.65	0.77	0.71	0.67	0.69	0.84	0.79	0.81	0.76	0.83	0.87	0.91	0.89	1.017
P/FCF	8.68	10.36	-64.93	32.45	18.18	9.83	6.28	3.23	3.34	4.56	5.49	15.14	-56.52	17.74	35.41	17.19	11.34	17.51	9.68	9.58	9.581
P/OCF	7.35	8.46	123.00	15.89	11.03	8.16	5.67	3.08	3.20	4.35	5.04	10.45	160.12	12.18	20.44	14.64	10.61	15.29	9.00	9.14	9.141
EV/EBITDA	-20.50	-19.17	-17.95	-15.26	-8.56	-5.51	-8.29	-9.58	-9.89	-15.39	-10.62	-13.46	-12.46	-8.66	8.80	4.83	5.26	-6.88	7.93	-5.01	-5.008
EV/Revenue	-6.06	-6.03	-4.76	-4.19	-2.41	-1.49	-2.14	-2.14	-1.81	-2.42	-2.29	-2.54	-2.21	-1.61	0.96	0.61	0.79	-0.97	1.25	-0.73	-0.728
EV/EBIT	-24.48	-24.50	-24.21	-21.05	-11.78	-7.50	-11.19	-13.73	-15.66	-29.09	-15.88	-20.82	-20.42	-13.35	25.33	10.74	9.04	-12.14	12.54	-7.05	-7.052
EV/FCF	-27.82	-28.84	125.86	-67.36	-25.42	-8.43	-9.86	-7.07	-6.24	-10.15	-13.44	-41.09	102.54	-26.69	27.84	9.10	6.68	-11.39	7.90	-4.48	-4.484
Earnings Yield	11.8%	10.4%	7.4%	9.1%	10.8%	10.4%	12.8%	14.8%	11.9%	8.0%	15.1%	12.8%	8.6%	10.2%	2.7%	4.5%	6.0%	5.3%	6.3%	6.2%	6.20%
FCF Yield	11.5%	9.7%	-1.5%	3.1%	5.5%	10.2%	15.9%	30.9%	30.0%	21.9%	18.2%	6.6%	-1.8%	5.6%	2.8%	5.8%	8.8%	5.7%	10.3%	10.4%	10.44%
PEG Ratio	snapshot only																				0.219
Price/Tangible Book	snapshot only																				1.021
EV/OCF	snapshot only																				-4.277
EV/Gross Profit	snapshot only																				-1.073
Acquirers Multiple	snapshot only																				-7.052
Shareholder Yield	snapshot only																				1.31%
Graham Number	snapshot only																				$46.12

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	0.39	0.39	0.27	0.25	0.22	0.23	0.24	0.27	0.23	0.25	0.24	0.24	0.24	0.23	0.04	0.06	0.06	1.77	0.07	60.69	60.693
Quick Ratio	0.39	0.39	0.27	0.25	0.22	0.23	0.24	0.27	0.23	0.25	0.24	0.24	0.24	0.23	0.04	0.06	0.06	1.77	0.07	60.69	60.693
Debt/Equity	0.16	0.09	0.15	0.18	0.66	0.99	0.92	1.44	1.25	0.80	0.44	0.29	0.27	0.69	0.30	0.31	0.29	0.48	0.53	0.53	0.535
Net Debt/Equity	-3.53	-3.48	-3.14	-3.32	-2.72	-1.97	-2.19	-2.08	-2.20	-2.30	-2.32	-2.56	-2.37	-1.97	-0.17	-0.36	-0.34	-1.43	-0.17	-1.30	-1.303
Debt/Assets	0.01	0.01	0.01	0.01	0.04	0.07	0.06	0.09	0.07	0.06	0.03	0.02	0.02	0.05	0.02	0.02	0.02	0.04	0.05	0.05	0.047
Debt/EBITDA	1.19	0.70	1.28	1.22	3.58	6.02	5.69	9.63	8.60	7.77	2.81	2.08	2.20	5.07	4.10	3.75	3.14	5.92	5.65	6.45	6.446
Net Debt/EBITDA	-26.90	-26.05	-27.22	-22.61	-14.69	-11.94	-13.56	-13.96	-15.18	-22.31	-14.95	-18.42	-19.33	-14.41	-2.39	-4.30	-3.67	-17.47	-1.79	-15.71	-15.711
Interest Coverage	6.41	7.87	7.68	8.89	7.20	3.39	1.67	0.83	0.44	0.26	0.44	0.35	0.30	0.33	0.10	0.15	0.24	0.23	0.30	0.32	0.320
Equity Multiplier	10.55	10.35	13.31	15.38	17.39	15.18	15.01	15.80	17.54	14.31	13.67	13.97	13.00	13.61	13.44	13.34	12.40	11.57	11.69	11.45	11.446
Cash Ratio	snapshot only																				10.811
Debt Service Coverage	snapshot only																				0.451
Cash to Debt	snapshot only																				3.437
FCF to Debt	snapshot only																				0.173
Defensive Interval	snapshot only																				11473.8 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	0.04	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	0.050
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover (trade)	13.57	13.11	11.04	12.50	12.80	12.99	11.52	12.49	12.81	12.48	14.28	14.19	14.44	14.19	13.11	13.24	13.64	0.14	13.10	0.13	0.134
Payables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DSO (trade)	27	28	33	29	29	28	32	29	28	29	26	26	25	26	28	28	27	2647	28	2725	2725.0 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	—
Cash Conversion Cycle (trade)	27	28	33	29	29	28	32	29	28	29	26	26	25	26	28	28	27	2647	28	2725	—
Fixed Asset Turnover	snapshot only																				2.316
Cash Velocity	snapshot only																				0.311
Capital Intensity	snapshot only																				20.058

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	0.1%	-4.5%	-2.5%	6.7%	14.5%	25.4%	27.2%	24.8%	21.6%	15.5%	25.2%	19.8%	17.2%	15.8%	-7.6%	-7.1%	-7.2%	-9.6%	0.7%	0.1%	0.15%
Net Income	0.6%	-7.5%	-28.4%	-17.4%	-4.4%	0.8%	20.9%	-1.7%	-25.0%	-44.4%	1.5%	-0.5%	6.6%	44.7%	-78.6%	-59.5%	-28.9%	-33.3%	2.0%	84.8%	84.75%
EPS	0.2%	-8.1%	-38.0%	-33.2%	-21.9%	-18.3%	11.7%	-0.7%	-25.0%	-44.6%	3.5%	-0.8%	6.1%	44.8%	-78.6%	-59.7%	-29.2%	-33.1%	2.0%	84.3%	84.29%
FCF	-7.7%	-15.0%	-1.1%	-76.7%	-50.1%	5.9%	8.3%	5.1%	2.7%	56.6%	-1.9%	-75.5%	-1.1%	-70.8%	-81.3%	1.4%	6.1%	28.4%	3.6%	1.4%	1.41%
EBITDA	-2.4%	-5.7%	-23.4%	-7.6%	9.2%	7.6%	23.9%	1.6%	-21.0%	-32.5%	4.3%	1.1%	13.4%	36.4%	-53.3%	-37.5%	-21.2%	-31.1%	46.2%	14.7%	14.73%
Op. Income	-5.5%	-13.8%	-34.4%	-21.8%	-5.2%	1.1%	23.8%	-2.2%	-31.4%	-51.4%	-5.8%	-6.3%	9.6%	67.2%	-75.7%	-56.5%	-24.9%	-39.7%	1.7%	81.0%	81.00%
OCF Growth	snapshot only																				1.15%
Asset Growth	snapshot only																				-0.84%
Equity Growth	snapshot only																				15.58%
Debt Growth	snapshot only																				97.18%
Shares Change	snapshot only																				0.25%
Dividend Growth	snapshot only																				32.89%

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	14.2%	11.1%	9.4%	8.5%	8.3%	9.9%	10.7%	11.3%	11.7%	11.4%	15.8%	16.8%	17.7%	18.9%	13.7%	11.6%	9.8%	6.6%	5.2%	3.7%	3.70%
Revenue 5Y	11.5%	10.7%	11.4%	12.5%	13.8%	15.2%	15.5%	16.0%	15.7%	14.7%	15.8%	13.8%	12.6%	12.2%	9.4%	9.0%	8.7%	7.7%	7.6%	8.2%	8.21%
EPS 3Y	15.3%	11.7%	6.2%	0.8%	-2.1%	0.0%	-2.6%	-8.3%	-16.3%	-25.4%	-10.5%	-13.0%	-14.7%	-13.2%	-37.2%	-26.5%	-17.4%	-18.8%	-13.0%	-9.7%	-9.69%
EPS 5Y	7.0%	6.1%	-0.6%	-1.2%	0.6%	2.3%	1.6%	-0.7%	-2.2%	-8.8%	6.7%	0.2%	-5.7%	-4.3%	-27.2%	-21.0%	-15.1%	-16.6%	-14.6%	-13.3%	-13.35%
Net Income 3Y	20.7%	17.0%	11.7%	8.5%	5.0%	7.6%	5.1%	-1.7%	-10.3%	-19.7%	-4.2%	-6.9%	-8.6%	-6.8%	-35.9%	-26.6%	-17.2%	-18.8%	-13.4%	-9.4%	-9.38%
Net Income 5Y	11.3%	10.4%	6.4%	7.2%	8.9%	11.0%	10.5%	7.5%	4.8%	-2.1%	11.4%	4.5%	-1.5%	0.1%	-24.0%	-17.5%	-11.4%	-12.9%	-10.8%	-9.6%	-9.59%
EBITDA 3Y	14.4%	16.0%	11.6%	9.5%	7.4%	12.5%	9.4%	3.1%	-5.6%	-11.8%	-0.3%	-1.8%	-0.7%	-0.3%	-15.5%	-13.7%	-11.0%	-14.1%	-10.7%	-10.2%	-10.16%
EBITDA 5Y	8.1%	8.0%	5.2%	6.7%	8.8%	9.3%	9.0%	7.4%	5.2%	2.5%	12.4%	6.2%	2.1%	5.6%	-8.6%	-7.1%	-5.5%	-8.4%	-7.5%	-7.4%	-7.42%
Gross Profit 3Y	15.8%	14.3%	13.5%	13.5%	13.8%	15.4%	13.8%	10.2%	6.1%	1.6%	4.7%	4.3%	3.8%	4.3%	-2.3%	-3.6%	-3.9%	-5.6%	-3.7%	-1.9%	-1.91%
Gross Profit 5Y	11.6%	11.6%	12.6%	14.0%	15.1%	16.1%	15.0%	13.6%	11.3%	8.5%	9.7%	7.5%	6.4%	6.9%	3.4%	3.1%	3.1%	1.9%	1.9%	2.3%	2.35%
Op. Income 3Y	15.9%	15.0%	9.2%	5.4%	3.1%	6.1%	3.7%	-3.8%	-15.0%	-24.9%	-8.6%	-10.5%	-10.7%	-6.3%	-34.4%	-26.4%	-17.3%	-21.2%	-15.3%	-9.6%	-9.63%
Op. Income 5Y	8.6%	7.0%	3.1%	4.0%	6.2%	7.0%	6.8%	4.1%	0.2%	-5.7%	8.7%	1.4%	-3.8%	-0.6%	-23.9%	-18.4%	-12.8%	-15.6%	-13.2%	-10.8%	-10.81%
FCF 3Y	47.8%	13.5%	—	-20.0%	-23.8%	25.0%	7.3%	28.9%	19.6%	12.1%	-7.1%	-29.8%	—	-21.5%	—	14.6%	18.1%	-16.3%	-5.2%	-15.7%	-15.74%
FCF 5Y	17.0%	9.9%	—	4.1%	-9.1%	6.7%	12.7%	18.1%	43.0%	19.3%	17.9%	-5.3%	—	-2.3%	-25.7%	-11.9%	-5.3%	-12.0%	-7.0%	-3.3%	-3.28%
OCF 3Y	47.1%	17.4%	-46.6%	-3.9%	-14.1%	18.8%	4.2%	22.3%	14.5%	6.4%	-9.3%	-24.6%	-63.6%	-16.8%	63.8%	-4.7%	2.3%	-17.7%	-6.2%	-15.8%	-15.82%
OCF 5Y	16.2%	10.4%	-28.6%	9.6%	-2.9%	7.6%	12.6%	17.4%	39.1%	18.1%	17.6%	-1.3%	-46.5%	-1.5%	-20.1%	-12.7%	-7.3%	-13.2%	-8.6%	-5.4%	-5.40%
Assets 3Y	14.5%	13.9%	18.3%	17.1%	15.6%	15.9%	15.8%	13.6%	12.1%	12.1%	10.0%	9.0%	8.8%	8.3%	-0.9%	-0.7%	-0.0%	-0.8%	-1.3%	-1.9%	-1.89%
Assets 5Y	12.3%	12.1%	18.5%	17.9%	17.5%	17.4%	17.5%	17.6%	14.2%	14.0%	10.3%	9.7%	9.3%	9.2%	8.6%	6.9%	6.7%	6.2%	5.3%	4.9%	4.94%
Equity 3Y	16.5%	15.6%	8.5%	2.0%	-3.9%	0.6%	-0.2%	-2.0%	-7.2%	-1.0%	0.3%	-1.5%	1.5%	-1.1%	-1.2%	4.1%	11.9%	8.6%	7.3%	9.2%	9.24%
Book Value 3Y	11.2%	10.3%	3.2%	-5.2%	-10.4%	-6.5%	-7.5%	-8.5%	-13.4%	-8.0%	-6.3%	-8.0%	-5.3%	-7.9%	-3.2%	4.2%	11.6%	8.6%	7.7%	8.9%	8.87%
Dividend 3Y	-4.4%	-4.4%	-4.8%	-5.2%	-3.1%	-1.8%	-0.6%	-1.7%	-3.5%	-5.5%	-11.6%	-17.3%	-23.9%	-32.1%	-24.4%	-25.0%	-18.9%	-9.1%	-8.7%	9.7%	9.66%

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	0.90	0.88	0.92	0.96	0.94	0.90	0.91	0.94	0.94	0.93	0.88	0.90	0.89	0.90	0.81	0.84	0.85	0.82	0.71	0.71	0.708
Earnings Stability	0.84	0.81	0.53	0.70	0.76	0.78	0.52	0.43	0.12	0.00	0.37	0.06	0.26	0.19	0.31	0.57	0.86	0.70	0.47	0.63	0.633
Margin Stability	0.96	0.94	0.94	0.94	0.94	0.94	0.94	0.92	0.89	0.86	0.87	0.85	0.83	0.81	0.81	0.81	0.81	0.81	0.82	0.84	0.840
Rev. Growth Consistency	1.00	0.00	0.00	1.00	1.00	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.500
Earn. Growth Consistency	1.00	0.00	0.00	0.00	0.00	0.50	0.50	0.00	0.00	0.00	1.00	0.00	0.50	0.50	0.00	0.00	0.00	0.00	0.50	0.50	0.500
FCF Positive Streak	1	1	0	1	1	1	0	1	1	1	1	1	0	1	1	1	0	1	1	1	1
Earnings Persistence	1.00	0.97	0.89	0.93	0.98	1.00	0.92	0.99	0.90	0.82	0.99	1.00	0.97	0.82	0.50	0.50	0.88	0.87	0.50	0.50	0.500
Earnings Smoothness	0.99	0.92	0.67	0.81	0.95	0.99	0.81	0.98	0.71	0.43	0.98	0.99	0.94	0.63	0.00	0.15	0.66	0.60	0.00	0.40	0.405
ROE Trend	0.00	-0.00	-0.03	-0.00	0.02	0.01	0.01	-0.00	-0.02	-0.05	0.01	-0.01	-0.03	-0.00	-0.08	-0.06	-0.03	-0.02	-0.00	-0.01	-0.006
Gross Margin Trend	0.08	0.11	0.11	0.11	0.09	0.04	-0.04	-0.13	-0.22	-0.29	-0.26	-0.25	-0.22	-0.16	-0.16	-0.09	-0.03	0.01	0.04	0.05	0.045
FCF Margin Trend	-0.04	0.03	-0.32	-0.18	-0.13	-0.05	0.07	0.13	0.13	0.05	0.08	-0.12	-0.21	-0.15	-0.16	-0.11	-0.02	-0.06	0.06	0.10	0.098
Sustainable Growth Rate	7.2%	6.9%	5.4%	6.1%	7.1%	6.8%	6.6%	5.7%	4.6%	2.1%	7.5%	6.6%	6.2%	6.7%	0.8%	2.5%	4.1%	4.0%	5.1%	4.7%	4.65%
Internal Growth Rate	0.7%	0.7%	0.5%	0.5%	0.5%	0.5%	0.5%	0.4%	0.3%	0.1%	0.5%	0.4%	0.4%	0.5%	0.1%	0.2%	0.3%	0.3%	0.4%	0.4%	0.38%

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	1.15	1.14	0.11	0.69	0.84	1.18	1.38	2.20	2.63	2.89	1.31	0.75	0.07	0.81	1.82	1.51	1.58	1.22	1.76	1.76	1.764
FCF/OCF	0.85	0.82	-1.89	0.49	0.61	0.83	0.90	0.95	0.96	0.95	0.92	0.69	-2.83	0.69	0.58	0.85	0.94	0.87	0.93	0.95	0.954
FCF/Net Income	snapshot only																				1.682
OCF/EBITDA	snapshot only																				1.171
CapEx/Revenue	3.9%	4.7%	5.8%	6.5%	6.2%	3.6%	2.3%	1.5%	1.2%	1.2%	1.5%	2.8%	2.9%	2.7%	2.5%	1.2%	0.8%	1.2%	1.2%	0.8%	0.78%
CapEx/Depreciation	snapshot only																				0.186
Accruals Ratio	-0.00	-0.00	0.01	0.00	0.00	-0.00	-0.00	-0.01	-0.01	-0.01	-0.00	0.00	0.01	0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.004
Sloan Accruals	snapshot only																				1.706
Cash Flow Adequacy	snapshot only																				6.025
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	3.4%	3.0%	2.6%	3.1%	3.6%	3.5%	4.5%	6.0%	5.8%	5.1%	4.4%	3.6%	2.1%	1.7%	1.7%	1.3%	1.1%	1.0%	1.0%	1.3%	1.13%
Dividend/Share	$1.24	$1.24	$1.07	$1.06	$1.13	$1.18	$1.22	$1.25	$1.25	$1.24	$1.06	$0.87	$0.67	$0.48	$0.48	$0.36	$0.36	$0.36	$0.36	$0.48	$0.48
Payout Ratio	28.5%	28.8%	34.4%	34.1%	33.4%	33.7%	35.1%	40.4%	49.3%	63.7%	29.3%	28.2%	25.0%	17.1%	62.7%	29.3%	19.0%	19.3%	15.8%	21.2%	21.16%
FCF Payout Ratio	29.2%	31.0%	—	1.0%	65.6%	34.5%	28.1%	19.3%	19.5%	23.1%	24.3%	54.7%	—	30.7%	59.6%	22.8%	12.8%	18.0%	9.7%	12.6%	12.58%
Total Payout Ratio	29.3%	29.7%	35.8%	34.9%	34.3%	34.4%	36.2%	41.6%	50.7%	65.5%	29.3%	28.8%	25.7%	17.8%	65.3%	29.4%	19.0%	19.3%	15.8%	21.2%	21.16%
Div. Increase Streak	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	0.04	0.03	0.03	0.09	0.16	0.21	0.28	0.23	0.16	0.10	-0.11	-0.27	-0.44	-0.59	-0.52	-0.57	-0.45	-0.24	-0.24	0.35	0.345
Buyback Yield	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.2%	0.2%	0.1%	0.0%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	-0.0%	-0.0%	-0.0%	-0.00%
Total Shareholder Return	3.5%	3.1%	2.7%	3.2%	3.7%	3.6%	4.5%	6.0%	5.8%	5.1%	4.4%	3.7%	2.2%	1.8%	1.8%	1.3%	1.1%	1.0%	1.0%	1.3%	1.31%

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)	0.90	0.91	0.93	0.92	0.91	0.91	0.91	0.93	0.99	1.04	0.98	0.98	0.97	0.90	0.87	0.92	0.92	1.00	0.97	0.93	0.935
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	0.25	0.25	0.20	0.20	0.20	0.20	0.19	0.16	0.12	0.08	0.14	0.12	0.11	0.12	0.04	0.06	0.09	0.08	0.10	0.10	0.103
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.05	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	0.050
Equity Multiplier	10.25	10.11	11.88	12.68	13.54	12.60	14.11	15.59	17.47	14.73	14.31	14.85	14.94	13.95	13.55	13.65	12.70	12.52	12.51	12.33	12.325

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)	$4.34	$4.29	$3.12	$3.12	$3.39	$3.51	$3.49	$3.10	$2.54	$1.94	$3.61	$3.07	$2.70	$2.81	$0.77	$1.24	$1.91	$1.88	$2.30	$2.28	$2.28
Book Value/Share	$43.85	$44.94	$39.21	$31.77	$27.70	$31.73	$32.09	$32.11	$27.94	$34.15	$35.49	$34.80	$37.27	$35.10	$35.51	$35.95	$38.50	$40.61	$40.07	$41.44	$41.69
Tangible Book/Share	$39.69	$40.85	$32.05	$25.21	$21.18	$25.41	$25.94	$25.91	$21.83	$28.20	$29.57	$28.96	$31.52	$29.48	$29.89	$30.40	$32.99	$35.13	$34.62	$36.01	$36.01
Revenue/Share	$19.45	$19.11	$17.06	$17.00	$18.18	$19.44	$20.04	$21.42	$22.12	$22.37	$25.58	$25.60	$25.81	$25.92	$23.61	$23.67	$23.84	$23.49	$23.62	$23.65	$23.79
FCF/Share	$4.24	$3.99	$-0.65	$1.06	$1.73	$3.43	$4.36	$6.48	$6.42	$5.35	$4.35	$1.58	$-0.56	$1.56	$0.81	$1.60	$2.82	$2.01	$3.75	$3.84	$3.86
OCF/Share	$5.00	$4.89	$0.34	$2.16	$2.84	$4.13	$4.82	$6.81	$6.69	$5.61	$4.74	$2.29	$0.20	$2.27	$1.41	$1.87	$3.02	$2.30	$4.03	$4.02	$4.05
Cash/Share	$161.49	$160.70	$129.01	$111.20	$93.62	$94.11	$99.79	$112.96	$96.24	$106.02	$97.88	$98.99	$98.37	$93.69	$16.70	$24.18	$24.41	$77.76	$27.79	$76.14	$76.60
EBITDA/Share	$5.75	$6.01	$4.53	$4.67	$5.13	$5.24	$5.18	$4.79	$4.05	$3.53	$5.51	$4.83	$4.57	$4.81	$2.57	$3.00	$3.58	$3.32	$3.74	$3.44	$3.44
Debt/Share	$6.85	$4.18	$5.78	$5.70	$18.34	$31.52	$29.50	$46.12	$34.81	$27.38	$15.49	$10.06	$10.05	$24.37	$10.54	$11.26	$11.26	$19.69	$21.11	$22.15	$22.15
Net Debt/Share	$-154.63	$-156.51	$-123.23	$-105.50	$-75.28	$-62.59	$-70.30	$-66.84	$-61.43	$-78.64	$-82.39	$-88.93	$-88.31	$-69.32	$-6.16	$-12.91	$-13.14	$-58.07	$-6.68	$-53.99	$-53.99

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.490
Altman Z-Prime	snapshot only																				6.177
Piotroski F-Score	6	6	3	4	3	4	5	6	5	6	7	5	6	7	4	4	4	7	7	7	7
Beneish M-Score	-2.46	-2.43	-1.99	-2.00	-2.04	-1.89	-2.21	-2.11	-2.08	-2.17	-2.25	-2.40	-2.46	-2.55	-2.22	-2.48	-2.47	179.94	-2.60	177.13	177.128
Ohlson O-Score	snapshot only																				-5.991
ROIC (Greenblatt)	snapshot only																				0.57%
Net-Net WC	snapshot only																				$-5.43

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																				BBB
Credit Score	84.02	81.19	44.22	50.56	43.68	47.16	46.44	43.62	42.42	41.40	57.95	53.18	47.63	43.79	27.86	32.03	44.83	50.84	42.35	59.08	59.079
Credit Grade	snapshot only																				9
Credit Trend	snapshot only																				27.050
Implied Spread (bps)	snapshot only																				275.000
Industry Credit Rank	snapshot only																				50
Sector Credit Rank	snapshot only																				46

FNWD 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

Sign in to InsiderStreet