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FUL NYSE

H.B. Fuller Company
1W: +0.3% 1M: -6.8% 3M: -14.0% YTD: -16.5% 1Y: -14.0% 3Y: -23.4% 5Y: -19.5%
$50.20
-0.03 (-0.06%)
 
Weekly Expected Move ±2.7%
$47 $49 $50 $52 $53
NYSE · Basic Materials · Chemicals - Specialty · Tech Score Sell · Power 43 · $2.7B mcap · 54M float · 1.52% daily turnover · Short 47% 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
37.5 / 100
NoneWeakNarrowWide
Primary source: Efficient Scale  ·  ROIC: 7.6%  ·  5Y Avg: 5.1%
Cost Advantage
30
Intangibles
36
Switching Cost
12
Network Effect
45
Scale ★
85
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. FUL has No discernible competitive edge (37.5/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 7.6% 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
$62
Low
$64
Avg Target
$65
High
Based on 2 analysts since Sep 23, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 9Hold: 6Sell: 0Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$63.50
Analysts2
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-09-29 Deutsche Bank David Begleiter $72 $62 -10 +23.8% $50.07
2026-09-25 Robert W. Baird Ghansham Panjabi $90 $65 -25 +30.0% $50.00
2026-06-26 UBS — $71 $69 -2 +8.9% $63.38
2026-06-26 Raymond James — Initiated $67 — +8.2% $61.95
2026-06-26 Goldman Sachs — Initiated $67 — +8.2% $61.95
2026-06-17 UBS — $58 $71 +13 +8.2% $65.61
2026-05-27 UBS — $63 $58 -5 -4.2% $60.56
2026-05-27 RBC Capital — Initiated $58 — -4.2% $60.56
2026-03-27 UBS — $66 $63 -3 +6.5% $59.17
2026-03-27 Vertical Research Kevin McCarthy Initiated $73 — +23.4% $59.17
2026-01-16 Seaport Global Michael Harrison $80 $84 +4 +38.6% $60.62
2026-01-16 UBS — $60 $66 +6 +4.0% $63.49
2025-11-20 UBS — Initiated $60 — +8.3% $55.41
2025-09-26 Seaport Global — Initiated $80 — +40.4% $56.97
2024-04-01 Robert W. Baird Ghansham Panjabi $80 $90 +10 +12.9% $79.74
2024-03-27 Robert W. Baird Ghansham Panjabi Initiated $80 — -0.4% $80.36
2023-06-28 J.P. Morgan Jeffrey Zekauskas Initiated $66 — +2.5% $64.36
2023-02-03 Citigroup — Initiated $85 — +15.9% $73.35
2022-06-24 Deutsche Bank — $85 $72 -13 +21.5% $59.24
2022-04-18 Deutsche Bank David Begleiter Initiated $85 — +21.2% $70.15

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
4
ROE
4
ROA
5
D/E
1
P/E
2
P/B
3
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. FUL receives an overall rating of B+. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5).
Rating Change History
DateFromTo
2026-03-30 B B+
2026-03-26 B+ B
2026-01-21 B 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.

★ ★ ★ ★ ★ 54 Grade B
Profitability
35
Balance Sheet
42
Earnings Quality
77
Growth
56
Value
58
Momentum
85
Safety
50
Cash Flow
51
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. FUL scores highest in Momentum (85/100) and lowest in Profitability (35/100). A grade of B indicates above-average fundamentals with room for improvement in select areas.

Risk & Quality Signals

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

Altman Z-Score
2.23
Grey Zone
Piotroski F-Score
6/9
✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✗
Beneish M-Score
-2.58
Unlikely Manipulator
Ohlson O-Score
-7.30
Bankruptcy prob: 0.1%
Low Risk
Credit Rating
BB+
Score: 46.9/100
Trend: Stable
Earnings Quality
100/100
OCF/NI: 1.74x
Accruals: -2.6%
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. FUL scores 2.23, placing it in the Grey Zone (safe > 2.99, distress < 1.81). 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. FUL scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. FUL's score of -2.58 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. FUL'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. FUL receives an estimated rating of BB+ (score: 46.9/100), with a stable 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). FUL's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E
13.79x
PEG
0.01x
P/S
0.76x
P/B
1.26x
P/FCF
25.07x
P/OCF
10.93x
EV/EBITDA
10.72x
EV/Revenue
1.56x
EV/EBIT
14.67x
EV/FCF
38.98x
Earnings Yield
5.26%
FCF Yield
3.99%
Shareholder Yield
2.84%
Graham Number
$53.57
Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 13.8x earnings, FUL trades at a reasonable valuation. An earnings yield of 5.3% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $53.57 per share, suggesting a potential 7% 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
0.751
NI / EBT
×
Interest Burden
0.661
EBT / EBIT
×
EBIT Margin
0.107
EBIT / Rev
×
Asset Turnover
0.671
Rev / Assets
×
Equity Multiplier
2.644
Assets / Equity
=
ROE
9.4%
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. FUL's ROE of 9.4% is driven by Asset Turnover (0.671), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

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
6.16%
Fair P/E
20.81x
Intrinsic Value
$70.20
Price/Value
0.91x
Margin of Safety
8.71%
Premium
-8.71%
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 FUL's realized 6.2% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. FUL trades at a -9% premium to its adjusted intrinsic value of $70.20, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 20.8x compares to the current market P/E of 13.8x.

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
$50.23
Median 1Y
$48.76
5th Pctile
$27.23
95th Pctile
$88.24
Ann. Volatility
33.8%
Analyst Target
$63.50
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

ExecutiveSalaryStockTotal
CELESTE B. MASTIN
President and Chief Executive Officer
$1,082,692 $2,971,976 $8,830,569
JOHN J. CORKREAN
Executive Vice President & Chief Financial Officer
$633,331 $582,354 $2,433,741
NATHAN D. WEAVER
Executive Vice President, Business Transformation
$515,000 $326,382 $1,710,013
JAMES J. EAST
Executive Vice President, Hygiene, Health and Consumable Adhesives
$538,024 $326,382 $1,654,730
M. SHAHBAZ MALIK
Senior Vice President Building Adhesive Solutions
$509,879 $225,039 $1,564,656

CEO Pay Ratio

89:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $8,830,569
Avg Employee Cost (SGA/emp): $98,836
Employees: 7,100

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
7,100
-5.3% YoY
Revenue / Employee
$489,238
Rev: $3,473,589,000
Profit / Employee
$21,404
NI: $151,967,000
SGA / Employee
$98,836
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 Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
ROE 10.5% 11.7% 11.9% 11.4% 12.5% 11.2% 10.0% 9.5% 9.0% 8.6% 9.1% 9.5% 10.2% 7.3% 6.3% 5.6% 6.0% 7.9% 8.3% 9.4% 9.39%
ROA 3.7% 4.2% 4.2% 4.1% 4.5% 4.1% 3.6% 3.4% 3.2% 3.2% 3.3% 3.5% 3.8% 2.7% 2.3% 2.1% 2.3% 3.0% 3.1% 3.6% 3.55%
ROIC 5.7% 6.6% 6.2% 6.1% 6.5% 6.9% 6.6% 6.6% 6.6% 6.3% 6.8% 6.6% 7.1% 6.6% 5.8% 5.2% 5.5% 6.6% 6.7% 7.6% 7.62%
ROCE 8.3% 8.3% 7.7% 8.0% 8.9% 9.2% 8.9% 8.7% 8.4% 9.4% 9.7% 9.6% 9.8% 7.7% 6.9% 6.7% 6.9% 7.9% 7.9% 8.2% 8.22%
Gross Margin 23.5% 26.9% 24.9% 25.5% 26.5% 25.9% 26.5% 28.6% 29.3% 31.1% 29.9% 30.9% 30.0% 28.7% 28.8% 31.9% 32.2% 32.5% 31.3% 33.9% 33.91%
Operating Margin 8.2% 6.6% 7.6% 8.8% 9.3% 9.6% 7.9% 10.2% 10.1% 13.1% 8.6% 11.2% 11.4% 8.3% 5.9% 11.1% 12.7% 12.6% 7.9% 12.9% 12.93%
Net Margin 3.8% 7.2% 4.5% 4.8% 4.9% 5.0% 2.7% 4.5% 4.2% 5.0% 3.8% 5.6% 6.0% -0.8% 1.7% 4.7% 7.5% 3.3% 2.7% 7.1% 7.14%
EBITDA Margin 12.6% 13.4% 11.8% 13.3% 14.0% 13.5% 12.5% 14.6% 15.1% 18.9% 14.6% 16.2% 16.5% 8.6% 11.8% 17.0% 18.2% 8.2% 14.0% 17.7% 17.75%
FCF Margin 6.6% 3.6% 1.5% 0.3% -0.4% 3.4% 4.1% 6.4% 7.9% 7.4% 8.7% 7.7% 7.2% 4.6% 2.1% 3.3% 3.5% 3.5% 4.2% 4.0% 4.01%
OCF Margin 9.5% 6.5% 4.7% 3.5% 2.7% 6.8% 7.6% 10.4% 11.9% 10.8% 12.0% 11.3% 10.7% 8.5% 5.7% 6.6% 6.9% 7.6% 9.0% 9.2% 9.20%
ROE 3Y Avg snapshot only 7.87%
ROE 5Y Avg snapshot only 8.85%
ROA 3Y Avg snapshot only 2.95%
ROIC 3Y Avg snapshot only 4.42%
ROIC Economic snapshot only 7.54%
Cash ROA snapshot only 6.06%
Cash ROIC snapshot only 7.99%
CROIC snapshot only 3.48%
NOPAT Margin snapshot only 8.77%
Pretax Margin snapshot only 7.05%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 20.85%
SBC / Revenue snapshot only 0.53%
Valuation
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
P/E Ratio 23.45 22.07 20.10 20.61 18.09 23.78 23.77 23.03 26.79 29.01 28.51 26.78 26.08 32.91 27.91 29.52 29.32 21.20 22.84 19.00 13.791
P/S Ratio 1.12 1.18 1.08 1.05 0.97 1.14 1.05 1.00 1.11 1.20 1.25 1.25 1.34 1.20 0.89 0.86 0.96 0.93 1.06 1.01 0.760
P/B Ratio 2.26 2.40 2.24 2.32 2.26 2.66 2.39 2.15 2.30 2.39 2.48 2.46 2.59 2.34 1.77 1.62 1.72 1.61 1.77 1.69 1.256
P/FCF 17.12 32.99 73.71 377.16 -218.07 33.89 25.79 15.69 14.01 16.21 14.38 16.22 18.60 26.27 42.87 25.86 27.75 26.58 25.09 25.07 25.068
P/OCF 11.83 18.13 23.11 30.14 35.29 16.72 13.93 9.67 9.35 11.11 10.45 11.07 12.58 14.18 15.53 13.16 13.89 12.23 11.68 10.93 10.929
EV/EBITDA 11.79 12.38 12.47 12.29 11.18 12.17 11.41 10.93 11.57 10.99 10.89 11.03 11.29 12.45 11.04 10.61 10.93 10.65 11.32 10.72 10.719
EV/Revenue 1.63 1.65 1.63 1.57 1.47 1.60 1.52 1.50 1.62 1.69 1.72 1.79 1.87 1.74 1.47 1.43 1.52 1.48 1.63 1.56 1.564
EV/EBIT 17.55 18.38 18.41 17.97 15.96 17.33 16.33 15.76 16.88 15.63 15.51 15.58 15.85 19.20 17.47 16.89 17.27 14.71 15.63 14.67 14.665
EV/FCF 24.82 46.25 110.64 565.14 -331.85 47.54 37.37 23.41 20.33 22.86 19.83 23.23 25.98 37.95 71.18 43.00 43.88 42.33 38.62 38.98 38.977
Earnings Yield 4.3% 4.5% 5.0% 4.9% 5.5% 4.2% 4.2% 4.3% 3.7% 3.4% 3.5% 3.7% 3.8% 3.0% 3.6% 3.4% 3.4% 4.7% 4.4% 5.3% 5.26%
FCF Yield 5.8% 3.0% 1.4% 0.3% -0.5% 3.0% 3.9% 6.4% 7.1% 6.2% 7.0% 6.2% 5.4% 3.8% 2.3% 3.9% 3.6% 3.8% 4.0% 4.0% 3.99%
PEG Ratio snapshot only 0.009
EV/OCF snapshot only 16.993
EV/Gross Profit snapshot only 4.808
Acquirers Multiple snapshot only 13.395
Shareholder Yield snapshot only 2.84%
Graham Number snapshot only $53.57
Leverage & Solvency
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Current Ratio 1.70 1.66 1.87 1.95 1.93 1.84 2.08 1.99 2.01 1.89 1.99 1.89 1.89 1.81 1.97 1.87 1.93 1.70 1.92 1.80 1.796
Quick Ratio 1.05 1.05 1.11 1.20 1.18 1.14 1.27 1.24 1.24 1.26 1.23 1.16 1.16 1.16 1.21 1.15 1.18 1.06 1.15 1.12 1.120
Debt/Equity 1.06 1.00 1.16 1.20 1.22 1.12 1.15 1.12 1.09 1.08 1.04 1.13 1.10 1.13 1.23 1.13 1.06 1.01 1.01 1.00 0.995
Net Debt/Equity 1.02 0.97 1.12 1.16 1.18 1.07 1.07 1.06 1.04 0.98 0.94 1.07 1.03 1.04 1.17 1.08 1.00 0.95 0.95 0.94 0.940
Debt/Assets 0.39 0.38 0.41 0.42 0.42 0.40 0.41 0.41 0.40 0.40 0.39 0.41 0.41 0.42 0.44 0.41 0.40 0.39 0.40 0.39 0.389
Debt/EBITDA 3.82 3.69 4.31 4.24 3.96 3.66 3.79 3.81 3.78 3.53 3.29 3.53 3.43 4.17 4.62 4.43 4.27 4.19 4.19 4.05 4.048
Net Debt/EBITDA 3.66 3.55 4.16 4.09 3.83 3.50 3.53 3.60 3.59 3.20 3.00 3.33 3.21 3.83 4.39 4.23 4.02 3.97 3.97 3.83 3.825
Interest Coverage 3.58 3.78 3.97 4.12 4.25 3.79 3.25 2.86 2.60 2.82 2.93 3.06 3.16 2.42 2.24 2.20 2.30 2.62 2.68 2.83 2.833
Equity Multiplier 2.72 2.65 2.82 2.86 2.90 2.77 2.78 2.74 2.70 2.69 2.65 2.75 2.70 2.70 2.79 2.74 2.64 2.59 2.53 2.56 2.559
Cash Ratio snapshot only 0.146
Debt Service Coverage snapshot only 3.876
Cash to Debt snapshot only 0.055
FCF to Debt snapshot only 0.068
Defensive Interval snapshot only 367.7 days
Efficiency & Turnover
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Asset Turnover 0.77 0.79 0.78 0.80 0.84 0.86 0.81 0.78 0.77 0.76 0.76 0.74 0.74 0.74 0.74 0.70 0.69 0.69 0.68 0.67 0.671
Inventory Turnover 5.73 6.31 5.43 5.50 5.41 5.93 5.10 5.06 5.07 5.34 4.86 4.95 5.03 5.50 5.21 4.99 4.81 5.07 4.82 4.63 4.630
Receivables Turnover 6.02 5.80 6.08 5.82 6.03 6.14 6.26 5.86 5.82 5.92 6.43 6.10 6.17 6.28 6.75 6.11 6.15 6.19 6.53 5.81 5.814
Payables Turnover 6.18 5.96 5.62 5.68 5.62 5.80 5.57 5.59 5.87 5.54 5.42 5.41 5.55 5.38 5.48 5.18 5.11 4.95 5.20 4.69 4.695
DSO 61 63 60 63 60 59 58 62 63 62 57 60 59 58 54 60 59 59 56 63 62.8 days
DIO 64 58 67 66 67 62 72 72 72 68 75 74 73 66 70 73 76 72 76 79 78.8 days
DPO 59 61 65 64 65 63 65 65 62 66 67 68 66 68 67 71 71 74 70 78 77.7 days
Cash Conversion Cycle 65 59 62 65 63 58 64 69 73 64 65 66 66 57 58 62 64 57 61 64 63.9 days
Fixed Asset Turnover snapshot only 3.625
Operating Cycle snapshot only 141.6 days
Cash Velocity snapshot only 30.744
Capital Intensity snapshot only 1.519
Growth (YoY)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 14.8% 17.5% 18.8% 18.2% 16.8% 14.4% 8.6% 0.9% -3.3% -6.4% -5.1% -2.1% -0.5% 1.6% 1.0% -0.1% -1.3% -2.7% -2.6% -0.6% -0.57%
Net Income 31.0% 41.7% 28.0% 12.9% 30.2% 2.9% -10.8% -13.6% -24.7% -19.6% -6.0% 5.0% 23.2% -10.1% -26.9% -37.5% -37.1% 16.7% 42.0% 80.2% 80.20%
EPS 26.1% 36.2% 23.2% 11.3% 29.1% 2.0% -11.6% -14.6% -25.9% -20.6% -7.1% 3.2% 21.9% -10.9% -26.2% -35.6% -35.6% 19.6% 43.3% 79.8% 79.81%
FCF -3.7% -52.0% -79.3% -95.5% -1.1% 8.0% 2.0% 22.2% 18.4% 1.0% 1.0% 18.1% -9.6% -37.1% -76.0% -56.8% -52.6% -25.7% 98.5% 19.7% 19.66%
EBITDA 18.6% 13.5% 8.6% 5.7% 11.1% 12.8% 11.3% 8.1% 2.8% 9.1% 12.4% 16.2% 18.2% -7.8% -15.1% -16.9% -17.3% -3.2% 5.0% 7.4% 7.36%
Op. Income 36.1% 22.9% 14.2% 6.7% 13.0% 23.3% 20.0% 19.8% 13.1% 9.7% 12.2% 14.2% 16.8% -2.9% -11.0% -14.5% -15.1% 5.2% 17.1% 25.2% 25.17%
OCF Growth snapshot only 39.64%
Asset Growth snapshot only 3.83%
Equity Growth snapshot only 11.08%
Debt Growth snapshot only -1.91%
Shares Change snapshot only 0.21%
Dividend Growth snapshot only 4.27%
Growth (CAGR)
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 3Y 2.3% 2.5% 4.3% 6.4% 8.0% 9.0% 8.8% 9.0% 9.0% 8.0% 7.0% 5.3% 4.0% 2.9% 1.3% -0.4% -1.7% -2.5% -2.3% -0.9% -0.92%
Revenue 5Y 8.8% 9.4% 9.9% 10.7% 10.9% 10.2% 8.0% 5.6% 3.9% 2.9% 3.2% 3.5% 3.9% 4.3% 4.3% 4.8% 4.9% 4.5% 3.8% 3.0% 3.02%
EPS 3Y 5.6% -1.1% 8.2% 10.4% 9.5% 9.2% 6.3% 5.9% 6.5% 3.3% 0.4% -0.6% 5.2% -10.3% -15.4% -17.2% -16.5% -5.4% -0.6% 6.2% 6.16%
EPS 5Y 5.3% 5.7% 7.3% 8.7% 11.9% 23.6% 10.8% 5.9% 2.4% -4.8% 0.8% 3.5% 3.5% -1.6% -3.8% -4.6% -1.1% 3.3% 1.3% 2.6% 2.60%
Net Income 3Y 7.3% 0.8% 10.6% 12.4% 12.0% 11.3% 8.5% 8.4% 8.7% 5.4% 2.4% 0.8% 6.5% -9.4% -15.1% -17.2% -16.4% -5.5% -0.8% 5.7% 5.74%
Net Income 5Y 6.6% 7.1% 8.9% 10.1% 13.4% 25.4% 12.5% 7.4% 3.9% -3.3% 2.6% 5.2% 5.5% -0.1% -2.6% -3.5% -0.1% 4.2% 2.2% 2.9% 2.89%
EBITDA 3Y 10.8% 5.7% 9.8% 15.1% 17.7% 14.9% 11.5% 9.6% 10.7% 11.8% 10.7% 9.9% 10.6% 4.3% 2.0% 1.4% 0.2% -0.9% 0.1% 1.2% 1.22%
EBITDA 5Y 13.7% 12.9% 16.4% 15.3% 17.2% 22.8% 17.0% 12.7% 9.2% 7.8% 10.6% 13.8% 14.7% 8.8% 5.8% 4.9% 5.8% 4.5% 3.9% 3.5% 3.45%
Gross Profit 3Y 0.9% 0.3% 1.5% 3.0% 5.5% 6.1% 6.6% 8.3% 9.7% 10.3% 10.2% 9.6% 9.8% 8.0% 6.7% 5.3% 3.7% 4.2% 4.6% 5.6% 5.61%
Gross Profit 5Y 6.5% 6.7% 7.2% 8.5% 9.7% 9.8% 8.2% 5.9% 4.3% 3.9% 4.7% 5.3% 5.8% 5.7% 5.7% 6.7% 7.4% 7.6% 7.3% 7.1% 7.06%
Op. Income 3Y 16.2% 13.0% 13.8% 22.3% 29.0% 35.1% 25.6% 21.4% 20.3% 18.5% 15.4% 13.4% 14.3% 9.5% 6.2% 5.4% 3.9% 3.9% 5.3% 6.9% 6.93%
Op. Income 5Y 19.8% 18.2% 19.8% 22.8% 26.7% 37.6% 38.9% 23.2% 14.9% 14.3% 14.7% 20.1% 23.2% 21.3% 14.6% 11.8% 11.5% 11.2% 9.9% 9.3% 9.33%
FCF 3Y 23.2% -14.1% -39.1% -65.5% — -15.2% -12.2% 2.2% 9.6% 2.0% 8.0% 7.4% 7.3% 11.7% 13.5% 1.3% — -1.4% -1.3% -15.2% -15.16%
FCF 5Y 7.6% -2.4% -14.5% -35.8% — 8.1% 31.3% 27.2% 20.6% 7.0% 6.6% 2.5% 1.5% -4.7% -20.0% -11.4% -10.8% -13.1% -9.7% -8.5% -8.50%
OCF 3Y 19.2% -5.6% -17.6% -26.1% -31.0% -1.6% -2.6% 7.6% 12.0% 4.5% 8.1% 9.6% 8.1% 12.3% 8.2% 23.0% 33.9% 0.9% 3.8% -4.8% -4.78%
OCF 5Y 8.1% 1.7% -1.2% -3.1% -3.5% 12.7% 24.8% 23.5% 19.1% 8.4% 8.0% 5.3% 4.3% 2.4% -7.8% -5.1% -4.3% -4.5% -1.3% 1.3% 1.28%
Assets 3Y -0.2% 0.8% 3.7% 3.6% 4.3% 3.8% 4.1% 5.1% 5.4% 5.4% 4.4% 4.9% 5.3% 4.9% 2.2% 3.6% 4.2% 5.1% 4.8% 4.9% 4.89%
Assets 5Y 15.4% 15.7% 16.4% 16.0% 14.8% -3.8% -4.0% 1.3% 1.7% 2.5% 2.4% 3.5% 4.3% 4.4% 4.3% 5.2% 5.3% 5.1% 4.9% 4.5% 4.54%
Equity 3Y 11.6% 11.8% 11.9% 11.6% 10.3% 9.6% 10.2% 11.4% 9.5% 8.3% 7.0% 4.7% 5.5% 4.3% 2.6% 5.1% 7.4% 7.6% 8.1% 7.4% 7.37%
Book Value 3Y 9.9% 9.8% 9.5% 9.5% 7.8% 7.6% 7.9% 8.8% 7.3% 6.2% 5.0% 3.2% 4.3% 3.3% 2.2% 5.2% 7.3% 7.7% 8.4% 7.8% 7.79%
Dividend 3Y -0.2% -0.5% -0.6% 0.5% 0.8% 2.1% 2.6% 1.9% 1.7% 1.4% 1.0% 1.6% 1.9% 2.1% 2.8% 2.7% 2.1% 2.0% 1.8% 1.9% 1.87%
Growth Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue Stability 0.69 0.69 0.79 0.86 0.89 0.90 0.90 0.82 0.63 0.54 0.64 0.73 0.72 0.68 0.66 0.59 0.49 0.41 0.41 0.52 0.519
Earnings Stability 0.57 0.27 0.68 0.84 0.71 0.50 0.78 0.72 0.39 0.02 0.40 0.52 0.42 0.02 0.02 0.04 0.00 0.00 0.10 0.04 0.036
Margin Stability 0.96 0.96 0.95 0.96 0.97 0.96 0.96 0.97 0.97 0.95 0.94 0.93 0.93 0.93 0.93 0.92 0.93 0.92 0.92 0.92 0.917
Rev. Growth Consistency 0.50 0.50 0.50 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.00 0.00 0.00 0.00 0.00 0.000
Earn. Growth Consistency 0.50 0.50 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.500
FCF Positive Streak 1 1 1 1 0 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence 0.88 0.83 0.89 0.95 0.88 0.99 0.96 0.95 0.90 0.92 0.98 0.98 0.91 0.96 0.89 0.85 0.85 0.93 0.83 0.50 0.500
Earnings Smoothness 0.73 0.66 0.75 0.88 0.74 0.97 0.89 0.85 0.72 0.78 0.94 0.95 0.79 0.89 0.69 0.54 0.54 0.85 0.65 0.43 0.428
ROE Trend -0.01 0.01 0.01 0.01 0.03 0.01 -0.01 -0.01 -0.02 -0.03 -0.02 -0.01 -0.01 -0.03 -0.03 -0.04 -0.03 -0.00 0.00 0.02 0.016
Gross Margin Trend -0.02 -0.02 -0.02 -0.02 -0.01 -0.01 -0.00 0.01 0.02 0.03 0.04 0.04 0.04 0.03 0.02 0.01 0.01 0.02 0.02 0.02 0.024
FCF Margin Trend -0.01 -0.04 -0.07 -0.07 -0.08 -0.03 -0.01 0.03 0.05 0.04 0.06 0.04 0.03 -0.01 -0.04 -0.04 -0.04 -0.02 -0.01 -0.02 -0.015
Sustainable Growth Rate 8.1% 9.4% 9.6% 9.1% 10.1% 8.8% 7.5% 7.0% 6.4% 6.0% 6.5% 6.9% 7.6% 4.6% 3.6% 2.9% 3.4% 5.3% 5.7% 6.8% 6.79%
Internal Growth Rate 2.9% 3.5% 3.5% 3.4% 3.7% 3.3% 2.8% 2.6% 2.3% 2.3% 2.4% 2.6% 2.9% 1.7% 1.3% 1.1% 1.3% 2.1% 2.2% 2.6% 2.64%
Cash Flow Quality
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
OCF/Net Income 1.98 1.22 0.87 0.68 0.51 1.42 1.71 2.38 2.86 2.61 2.73 2.42 2.07 2.32 1.80 2.24 2.11 1.73 1.96 1.74 1.738
FCF/OCF 0.69 0.55 0.31 0.08 -0.16 0.49 0.54 0.62 0.67 0.69 0.73 0.68 0.68 0.54 0.36 0.51 0.50 0.46 0.47 0.44 0.436
FCF/Net Income snapshot only 0.758
OCF/EBITDA snapshot only 0.631
CapEx/Revenue 2.9% 2.9% 3.2% 3.2% 3.2% 3.5% 3.5% 4.0% 4.0% 3.4% 3.3% 3.6% 3.4% 3.9% 3.6% 3.2% 3.5% 4.1% 4.8% 5.2% 5.19%
CapEx/Depreciation snapshot only 1.322
Accruals Ratio -0.04 -0.01 0.01 0.01 0.02 -0.02 -0.03 -0.05 -0.06 -0.05 -0.06 -0.05 -0.04 -0.04 -0.02 -0.03 -0.03 -0.02 -0.03 -0.03 -0.026
Sloan Accruals snapshot only -0.023
Cash Flow Adequacy snapshot only 1.383
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Dividend Yield 1.0% 0.9% 1.0% 1.0% 1.1% 0.9% 1.0% 1.1% 1.1% 1.0% 1.0% 1.0% 1.0% 1.1% 1.5% 1.6% 1.5% 1.6% 1.4% 1.5% 1.91%
Dividend/Share $0.63 $0.63 $0.64 $0.66 $0.69 $0.71 $0.73 $0.74 $0.76 $0.77 $0.78 $0.80 $0.82 $0.84 $0.87 $0.89 $0.90 $0.91 $0.92 $0.93 $0.96
Payout Ratio 22.9% 19.9% 19.2% 20.1% 19.3% 21.7% 24.7% 26.4% 28.6% 29.9% 28.8% 27.6% 25.5% 36.5% 43.2% 47.7% 43.3% 33.1% 31.8% 27.7% 27.66%
FCF Payout Ratio 16.7% 29.7% 70.4% 3.7% — 31.0% 26.8% 18.0% 15.0% 16.7% 14.5% 16.7% 18.2% 29.2% 66.4% 41.8% 41.0% 41.5% 35.0% 36.5% 36.50%
Total Payout Ratio 24.7% 21.4% 21.2% 22.1% 21.2% 23.9% 26.5% 28.3% 30.4% 31.7% 32.9% 40.8% 47.0% 66.9% 1.1% 1.2% 96.3% 73.0% 43.9% 53.9% 53.94%
Div. Increase Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Chowder Number 0.05 0.05 0.06 0.08 0.11 0.13 0.16 0.15 0.13 0.12 0.10 0.11 0.11 0.11 0.11 0.10 0.08 0.07 0.06 0.06 0.060
Buyback Yield 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.5% 0.8% 0.9% 2.5% 2.6% 1.8% 1.9% 0.5% 1.4% 1.38%
Net Buyback Yield 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.5% 0.8% 0.9% 2.5% 2.6% 1.7% 1.7% 0.1% 0.9% 0.88%
Total Shareholder Return 1.1% 1.0% 1.1% 1.1% 1.2% 1.0% 1.1% 1.2% 1.1% 1.1% 1.2% 1.5% 1.8% 2.0% 4.0% 4.2% 3.2% 3.2% 1.5% 2.3% 2.34%
DuPont Factors
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Tax Burden (NI/EBT) 0.72 0.81 0.82 0.78 0.76 0.71 0.69 0.70 0.70 0.61 0.63 0.63 0.67 0.70 0.67 0.61 0.64 0.69 0.70 0.75 0.751
Interest Burden (EBT/EBIT) 0.71 0.74 0.75 0.74 0.76 0.73 0.69 0.66 0.62 0.62 0.63 0.64 0.65 0.58 0.56 0.56 0.58 0.63 0.64 0.66 0.661
EBIT Margin 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.11 0.11 0.11 0.12 0.09 0.08 0.08 0.09 0.10 0.10 0.11 0.107
Asset Turnover 0.77 0.79 0.78 0.80 0.84 0.86 0.81 0.78 0.77 0.76 0.76 0.74 0.74 0.74 0.74 0.70 0.69 0.69 0.68 0.67 0.671
Equity Multiplier 2.86 2.78 2.84 2.80 2.81 2.71 2.80 2.80 2.79 2.73 2.71 2.75 2.70 2.69 2.72 2.74 2.67 2.64 2.65 2.64 2.644
Per Share
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
EPS (Diluted TTM) $2.77 $3.19 $3.32 $3.30 $3.57 $3.25 $2.93 $2.82 $2.65 $2.58 $2.72 $2.91 $3.22 $2.30 $2.01 $1.88 $2.07 $2.75 $2.88 $3.37 $3.37
Book Value/Share $28.68 $29.29 $29.70 $29.31 $28.62 $29.03 $29.21 $30.20 $30.81 $31.25 $31.24 $31.63 $32.50 $32.28 $31.72 $34.12 $35.35 $36.24 $37.20 $37.82 $39.97
Tangible Book/Share $-8.36 $-6.83 $-10.22 $-9.62 $-9.17 $-8.74 $-8.13 $-8.62 $-9.11 $-8.20 $-7.45 $-10.59 $-9.83 $-8.36 $-12.17 $-11.70 $-10.00 $-8.73 $-7.62 $-6.86 $-6.86
Revenue/Share $57.79 $59.62 $61.53 $64.89 $66.90 $67.59 $66.20 $64.74 $63.65 $62.52 $62.08 $62.35 $62.64 $62.99 $63.31 $64.20 $63.24 $62.84 $62.25 $63.70 $65.53
FCF/Share $3.79 $2.13 $0.90 $0.18 $-0.30 $2.28 $2.70 $4.14 $5.06 $4.62 $5.40 $4.81 $4.52 $2.88 $1.31 $2.14 $2.19 $2.19 $2.62 $2.56 $1.84
OCF/Share $5.48 $3.88 $2.88 $2.26 $1.83 $4.62 $5.00 $6.71 $7.58 $6.74 $7.43 $7.04 $6.68 $5.34 $3.61 $4.21 $4.38 $4.77 $5.63 $5.86 $5.34
Cash/Share $1.25 $1.12 $1.15 $1.24 $1.10 $1.44 $2.24 $1.85 $1.69 $3.20 $2.92 $2.03 $2.32 $2.99 $1.89 $1.76 $2.21 $1.94 $1.94 $2.07 $1.79
EBITDA/Share $7.98 $7.97 $8.03 $8.29 $8.79 $8.91 $8.85 $8.86 $8.89 $9.60 $9.83 $10.13 $10.40 $8.78 $8.43 $8.68 $8.80 $8.71 $8.93 $9.30 $9.30
Debt/Share $30.45 $29.40 $34.55 $35.15 $34.79 $32.58 $33.50 $33.78 $33.64 $33.88 $32.36 $35.75 $35.68 $36.62 $38.91 $38.44 $37.57 $36.49 $37.40 $37.63 $37.63
Net Debt/Share $29.20 $28.28 $33.41 $33.91 $33.69 $31.14 $31.26 $31.93 $31.95 $30.69 $29.44 $33.73 $33.36 $33.63 $37.02 $36.68 $35.36 $34.55 $35.45 $35.56 $35.56
Academic Models
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — 2.231
Altman Z-Prime snapshot only 3.655
Piotroski F-Score 6 6 5 5 6 6 6 7 6 6 5 5 5 3 4 6 7 7 7 6 6
Beneish M-Score -2.36 -2.34 -2.19 -2.28 -2.33 -2.56 -2.74 -2.85 -2.91 -2.78 -2.87 -2.74 -2.59 -2.57 -2.51 -2.58 -2.89 -2.74 -2.64 -2.58 -2.579
Ohlson O-Score snapshot only -7.300
Net-Net WC snapshot only $-33.54
EVA snapshot only $-96253759.61
Credit
Metric Trend Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Current
Credit Rating snapshot only BB+
Credit Score 46.89 50.94 42.68 43.08 44.50 51.70 53.98 46.39 52.64 51.02 51.54 55.42 55.74 44.47 43.25 46.28 46.83 46.66 46.82 46.86 46.855
Credit Grade snapshot only 11
Credit Trend snapshot only 0.574
Implied Spread (bps) snapshot only 400.000
Industry Credit Rank snapshot only 34
Sector Credit Rank snapshot only 36

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