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Also trades as: 0J2Z.L (LSE) · $vol 0M

HASI NYSE

HA Sustainable Infrastructure Capital, Inc.
1W: -1.7% 1M: -0.8% 3M: +9.1% YTD: +27.8% 1Y: +49.6% 3Y: +91.7% 5Y: +5.7%
$40.61
-0.05 (-0.12%)
 
Weekly Expected Move ±3.7%
$38 $40 $41 $43 $44
NYSE · Financial Services · Financial - Diversified · Alpha Radar Sell · Power 43 · $5.2B mcap · 126M float · 0.750% daily turnover · Short 68% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE
45.0 / 100
NoneWeakNarrowWide
Primary source: Network Effects  ·  ROIC: 3.6%  ·  5Y Avg: 3.1%
Cost Advantage
30
Intangibles
36
Switching Cost
12
Network Effect
100
Scale
80
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. HASI shows a Weak competitive edge (45.0/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Network Effects. ROIC of 3.6% 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
$48
Low
$50
Avg Target
$52
High
Based on 3 analysts since May 7, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 16Hold: 2Sell: 0Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$50.00
Analysts3
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-05-08 UBS Jon Windham $36 $50 +14 +20.9% $41.35
2026-05-08 Oppenheimer $50 $52 +2 +26.4% $41.14
2026-05-08 Robert W. Baird Ben Kallo $45 $48 +3 +17.3% $40.92
2026-02-18 Wells Fargo Praneeth Satish Initiated $44 +12.2% $39.22
2026-02-13 Goldman Sachs Initiated $38 -3.1% $39.23
2026-02-13 RBC Capital $41 $43 +2 +10.6% $38.88
2026-02-13 Robert W. Baird Ben Kallo $41 $45 +4 +14.9% $39.18
2025-12-02 Morgan Stanley $44 $47 +3 +40.4% $33.47
2025-11-07 Oppenheimer $48 $50 +2 +61.8% $30.90
2025-04-15 Robert W. Baird Ben Kallo $47 $41 -6 +72.8% $23.73
2024-11-08 Oppenheimer Noah Kaye Initiated $48 +60.6% $29.88
2024-10-15 Jefferies Julian Dumoulin-Smith $39 $40 +1 +14.3% $35.01
2024-09-27 Robert W. Baird Ben Kallo Initiated $47 +40.2% $33.52
2024-09-03 Jefferies Julian Dumoulin-Smith Initiated $39 +19.0% $32.77
2024-09-02 RBC Capital Christopher Dendrinos Initiated $41 +26.6% $32.38
2024-07-31 Morgan Stanley Robert Kad $23 $44 +21 +33.1% $33.06
2024-07-26 Mizuho Securities Maheep Mandloi Initiated $34 +3.6% $32.83
2024-06-21 UBS Jon Windham Initiated $36 +19.5% $30.11
2023-10-16 Morgan Stanley Stephen Byrd $37 $23 -14 +32.6% $17.35
2023-01-10 Morgan Stanley $66 $37 -29 +18.7% $31.16
2022-04-20 Morgan Stanley Initiated $66 +53.0% $43.13

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

C
May 22, 2026
DCF
1
ROE
2
ROA
3
D/E
1
P/E
1
P/B
2
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. HASI receives an overall rating of C. Areas of concern: DCF (1/5), ROE (2/5), D/E (1/5), P/E (1/5), P/B (2/5).
Rating Change History
DateFromTo
2026-05-08 C+ C
2026-04-30 B- C+
2026-04-01 C+ B-
2026-03-06 C C+
2026-03-04 C+ C
2026-02-13 B- C+
2026-02-03 B B-
2026-01-07 B+ B
2025-12-30 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.

42 Grade C
Profitability
43
Balance Sheet
27
Earnings Quality
70
Growth
40
Value
47
Momentum
70
Safety
90
Cash Flow
75
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. HASI scores highest in Safety (90/100) and lowest in Balance Sheet (27/100). 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
3.98
Safe Zone
Piotroski F-Score
8/9
Beneish M-Score
-279.65
Unlikely Manipulator
Ohlson O-Score
-7.09
Bankruptcy prob: 0.1%
Low Risk
Credit Rating
BBB+
Score: 60.1/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 4.17x
Accruals: -2.3%
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. HASI scores 3.98, placing it in the Safe Zone (safe > 3.0, distress < 1.5). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. HASI scores 8/9, 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. HASI's score of -279.65 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. HASI'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. HASI receives an estimated rating of BBB+ (score: 60.1/100), with a deteriorating trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). HASI'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
92.56x
PEG
-1.57x
P/S
7.31x
P/B
2.12x
P/FCF
19.86x
P/OCF
19.86x
EV/EBITDA
38.91x
EV/Revenue
13.47x
EV/EBIT
39.00x
EV/FCF
40.98x
Earnings Yield
1.21%
FCF Yield
5.04%
Shareholder Yield
4.85%
Graham Number
$14.11
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 92.6x earnings, HASI is priced for high growth expectations. Graham's intrinsic value formula yields $14.11 per share, 188% 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
0.644
NI / EBT
×
Interest Burden
0.354
EBT / EBIT
×
EBIT Margin
0.345
EBIT / Rev
×
Asset Turnover
0.093
Rev / Assets
×
Equity Multiplier
3.109
Assets / Equity
=
ROE
2.3%
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. HASI's ROE of 2.3% is driven by financial leverage (equity multiplier: 3.11x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

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

Adj. Growth Rate
26.79%
Fair P/E
62.08x
Intrinsic Value
$27.23
Price/Value
1.33x
Margin of Safety
-33.40%
Premium
33.40%
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 HASI's realized 26.8% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. HASI trades at a 33% premium to its adjusted intrinsic value of $27.23, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 62.1x compares to the current market P/E of 92.6x.

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
$40.61
Median 1Y
$40.37
5th Pctile
$19.73
95th Pctile
$82.55
Ann. Volatility
48.0%
Analyst Target
$50.00
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

ExecutiveSalaryStockTotal
Jeffrey A. Lipson
Director, Chief Executive Officer and President
$807,308 $6,032,138 $9,566,821
Marc T. Pangburn
Senior Managing Director and Chief Revenue and Strategy Officer
$470,193 $2,439,225 $4,370,918
Susan D. Nickey
Senior Managing Director and Chief Client Officer
$440,000 $1,483,313 $3,278,413
Steven L. Chuslo
Executive Vice President and Chief Legal Officer
$414,615 $1,186,650 $2,604,390
Charles W. Melko
Senior Managing Director and Chief Financial Officer
$397,116 $725,175 $1,975,791
Nitya Gopalakrishnan Managing
anaging Director and Chief Operating Officer
$192,308 $562,600 $1,728,810

CEO Pay Ratio

56:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $9,566,821
Avg Employee Cost (SGA/emp): $172,343
Employees: 178

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
178
+12.7% YoY
Revenue / Employee
$2,250,011
Rev: $400,502,000
Profit / Employee
$1,036,781
NI: $184,547,000
SGA / Employee
$172,343
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 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
ROE 10.6% 8.3% 9.2% 8.8% 6.3% 9.0% 2.6% 1.3% 3.3% 2.5% 8.0% 13.3% 14.0% 11.8% 9.0% 6.0% 9.3% 13.9% 7.5% 2.3% 2.28%
ROA 3.9% 3.0% 3.3% 3.2% 2.3% 3.3% 0.9% 0.5% 1.2% 0.9% 2.6% 4.4% 4.6% 3.9% 2.9% 2.0% 3.0% 4.5% 2.4% 0.7% 0.73%
ROIC 3.7% 2.9% 3.3% 3.2% 2.3% 3.3% 0.9% 0.5% 1.2% 0.9% 2.4% 4.0% 4.2% 3.6% 3.1% 2.1% 3.2% 4.8% 3.9% 3.6% 3.57%
ROCE 3.6% 2.8% 3.6% 3.5% 2.4% 3.6% 1.1% 0.4% 1.2% 0.6% 2.9% 5.1% 5.5% 4.8% 4.0% 2.7% 4.2% 6.3% 4.3% 3.0% 3.00%
Gross Margin 50.1% 34.4% 76.2% 74.9% 33.3% 67.4% 1.7% 59.3% 47.9% 53.3% 74.7% 76.6% 51.0% -1.4% 67.1% 65.0% 67.2% 68.6% 99.7% 1.0% 1.00%
Operating Margin 27.6% -10.4% 61.9% 53.5% -54.0% 46.9% -85.7% 28.4% 15.6% 17.8% 63.9% 64.6% 30.7% -44.9% 49.2% 44.4% 56.7% 52.5% 70.5% 60.1% 60.10%
Net Margin 19.7% -6.8% 56.4% 42.8% -42.7% 38.1% -64.2% 26.3% 17.7% 23.2% 44.9% 46.5% 21.9% -33.5% 37.4% 30.6% 40.5% 36.6% -46.8% -57.9% -57.93%
EBITDA Margin 28.8% -8.1% 62.8% 54.4% -51.8% 48.0% -82.3% 29.5% 16.8% 18.8% 64.1% 64.7% 30.9% -44.6% 49.4% 44.5% 56.8% 52.5% 10.0% -18.8% -18.85%
FCF Margin 9.9% 14.7% 3.9% -0.1% -3.8% 15.9% 0.1% 31.6% 32.0% 9.8% 21.6% 11.3% 4.4% 3.9% 0.9% -9.5% 7.7% -10.9% 22.6% 32.9% 32.87%
OCF Margin 9.9% 14.7% 3.9% -0.1% -3.8% 15.9% 0.1% 31.6% 32.0% 9.8% 21.6% 11.3% 4.4% 3.9% 0.9% -9.5% 7.7% -10.9% 22.6% 32.9% 32.87%
ROE 3Y Avg snapshot only 6.58%
ROE 5Y Avg snapshot only 5.76%
ROA 3Y Avg snapshot only 2.12%
ROIC 3Y Avg snapshot only 2.92%
ROIC Economic snapshot only 3.50%
Cash ROA snapshot only 2.85%
Cash ROIC snapshot only 3.11%
CROIC snapshot only 3.11%
NOPAT Margin snapshot only 37.69%
Pretax Margin snapshot only 12.24%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 14.34%
SBC / Revenue snapshot only 0.00%
Valuation
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
P/E Ratio 32.40 38.43 30.20 28.37 31.19 18.13 53.02 114.19 41.14 51.64 21.73 13.58 11.93 17.04 17.61 28.91 17.49 13.71 21.51 82.81 92.565
P/S Ratio 11.57 11.67 11.26 10.11 8.95 6.41 8.12 9.02 7.41 6.93 7.02 5.31 4.58 5.81 5.58 7.00 5.33 5.02 5.15 6.53 7.310
P/B Ratio 3.05 2.84 2.47 2.22 1.75 1.45 1.35 1.42 1.32 1.24 1.55 1.61 1.49 1.79 1.51 1.65 1.54 1.81 1.54 1.80 2.121
P/FCF 116.35 79.42 287.22 -7539.10 -236.89 40.39 9567.93 28.57 23.14 70.69 32.44 46.84 103.41 147.36 601.99 -74.00 68.89 -46.19 22.76 19.86 19.857
P/OCF 116.35 79.42 287.22 40.39 9567.93 28.57 23.14 70.69 32.44 46.84 103.41 147.36 601.99 68.89 22.76 19.86 19.857
EV/EBITDA 43.83 53.74 41.06 38.73 48.97 30.43 94.21 227.63 85.96 152.90 39.99 22.90 20.59 25.52 28.35 43.72 27.43 19.65 25.32 38.91 38.905
EV/Revenue 17.58 18.16 17.93 16.78 16.46 12.87 18.52 20.01 17.14 16.59 16.10 11.91 10.75 12.30 12.34 14.73 11.67 10.08 11.55 13.47 13.473
EV/EBIT 45.12 55.82 42.14 39.78 50.92 31.25 101.85 275.70 92.24 173.77 40.68 23.08 20.70 25.60 28.46 43.92 27.52 19.69 25.38 39.00 39.003
EV/FCF 176.76 123.56 457.54 -12520.91 -435.93 81.16 21826.94 63.39 53.51 169.29 74.42 105.11 242.55 312.09 1331.62 -155.80 150.70 -92.82 51.02 40.98 40.983
Earnings Yield 3.1% 2.6% 3.3% 3.5% 3.2% 5.5% 1.9% 0.9% 2.4% 1.9% 4.6% 7.4% 8.4% 5.9% 5.7% 3.5% 5.7% 7.3% 4.6% 1.2% 1.21%
FCF Yield 0.9% 1.3% 0.3% -0.0% -0.4% 2.5% 0.0% 3.5% 4.3% 1.4% 3.1% 2.1% 1.0% 0.7% 0.2% -1.4% 1.5% -2.2% 4.4% 5.0% 5.04%
Price/Tangible Book snapshot only 1.800
EV/OCF snapshot only 40.983
EV/Gross Profit snapshot only 17.130
Acquirers Multiple snapshot only 23.168
Shareholder Yield snapshot only 4.85%
Graham Number snapshot only $14.11
Leverage & Solvency
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Current Ratio 25.03 25.03 18.82 18.82 18.82 18.82 18.57 18.57 18.57 18.57 19.42 19.42 19.42 19.42 11.25 11.25 11.25 11.25 255.93 255.93 255.929
Quick Ratio 25.03 25.03 18.82 18.82 18.82 18.82 18.57 18.57 18.57 18.57 19.42 19.42 19.42 19.42 11.25 11.25 11.25 11.25 255.93 255.93 255.929
Debt/Equity 1.82 1.82 1.61 1.61 1.61 1.61 1.83 1.83 1.83 1.83 2.03 2.03 2.03 2.03 1.88 1.88 1.88 1.88 1.97 1.97 1.972
Net Debt/Equity 1.58 1.58 1.47 1.47 1.47 1.47 1.73 1.73 1.73 1.73 2.00 2.00 2.00 2.00 1.83 1.83 1.83 1.83 1.92 1.92 1.915
Debt/Assets 0.63 0.63 0.60 0.60 0.60 0.60 0.63 0.63 0.63 0.63 0.65 0.65 0.65 0.65 0.62 0.62 0.62 0.62 0.62 0.62 0.620
Debt/EBITDA 17.23 22.09 16.81 16.95 24.59 16.81 55.84 131.94 51.48 93.98 22.90 12.89 11.99 13.67 16.01 23.65 15.34 10.17 14.44 20.65 20.646
Net Debt/EBITDA 14.98 19.20 15.28 15.41 22.36 15.28 52.91 125.03 48.78 89.06 22.56 12.70 11.81 13.47 15.54 22.96 14.89 9.87 14.03 20.06 20.055
Interest Coverage 1.02 0.78 1.19 1.19 0.89 1.30 0.43 0.15 0.39 0.18 1.07 1.67 1.64 1.34 1.13 0.76 1.08 1.56 1.20 0.79 0.794
Equity Multiplier 2.87 2.87 2.69 2.69 2.69 2.69 2.92 2.92 2.92 2.92 3.13 3.13 3.13 3.13 3.03 3.03 3.03 3.03 3.18 3.18 3.180
Cash Ratio snapshot only 9.681
Debt Service Coverage snapshot only 0.796
Cash to Debt snapshot only 0.029
FCF to Debt snapshot only 0.046
Defensive Interval snapshot only 9628.5 days
Efficiency & Turnover
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Asset Turnover 0.11 0.10 0.09 0.09 0.08 0.09 0.06 0.06 0.07 0.07 0.08 0.11 0.12 0.11 0.09 0.08 0.10 0.12 0.10 0.09 0.093
Inventory Turnover
Receivables Turnover (trade) 0.27 0.25 0.26 0.26 0.23 0.26 0.15 0.15 0.16 0.17 0.18 0.24 0.26 0.25 0.21 0.18 0.22 0.28 0.23 0.21 0.213
Payables Turnover 2.11 2.13 1.64 1.62 1.47 1.50 1.11 1.21 1.31 1.44 1.21 1.38 1.52 1.63 1.10 1.12 1.21 1.26 1.57 1.10 1.100
DSO (trade) 1367 1477 1430 1430 1610 1385 2371 2505 2217 2203 2053 1493 1394 1468 1757 2010 1646 1316 1578 1713 1713.2 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 173 171 223 225 249 244 330 302 278 253 302 264 240 224 331 327 302 289 233 332 331.8 days
Cash Conversion Cycle (trade) 1194 1305 1206 1205 1361 1141 2041 2203 1939 1950 1751 1229 1154 1245 1427 1683 1345 1028 1346 1381 1381.3 days
Cash Velocity snapshot only 4.889
Capital Intensity snapshot only 11.532
Growth (YoY)
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue 35.0% 15.1% 44.6% 19.7% -4.8% 19.5% -20.2% -24.4% -3.9% -16.8% 70.0% 1.5% 1.3% 1.2% 37.0% -12.9% -0.7% 30.8% 22.1% 28.6% 28.62%
Net Income 23.6% -14.0% 53.6% 10.8% -23.5% 39.0% -67.2% -83.2% -39.6% -68.4% 2.6% 11.2% 4.0% 4.6% 34.4% -46.1% -21.2% 40.4% -7.7% -58.1% -58.11%
EPS 10.7% -17.5% 47.1% 8.1% -28.0% 21.5% -67.6% -84.1% -47.4% -73.7% 1.5% 7.8% 3.4% 4.3% 27.1% -48.8% -34.5% 17.2% 0.2% -54.7% -54.71%
FCF -35.2% -13.4% -81.8% -1.0% -1.4% 29.0% -98.3% 179.0% 9.2% -48.6% 432.4% -11.3% -67.6% -11.2% -94.1% -1.7% 73.5% -4.6% 28.8% 5.5% 5.47%
EBITDA 20.4% -17.3% 77.5% 27.7% -20.2% 49.6% -64.1% -84.7% -43.0% -78.7% 2.5% 13.6% 5.1% 8.8% 48.2% -43.6% -19.1% 39.2% 27.9% 32.2% 32.20%
Op. Income 21.0% -17.9% 80.7% 28.3% -21.0% 51.3% -65.9% -87.0% -44.7% -80.7% 2.7% 16.6% 5.5% 10.1% 50.1% -43.4% -18.9% 39.4% 53.5% 1.2% 1.23%
OCF Growth snapshot only 5.47%
Asset Growth snapshot only 15.65%
Equity Growth snapshot only 10.19%
Debt Growth snapshot only 15.38%
Shares Change snapshot only -7.52%
Dividend Growth snapshot only 9.43%
Growth (CAGR)
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue 3Y 32.7% 25.2% 28.3% 25.2% 22.3% 29.1% 9.6% 4.4% 7.3% 4.6% 25.2% 30.7% 28.9% 30.0% 23.0% 17.6% 30.8% 34.0% 41.7% 40.4% 40.41%
Revenue 5Y 33.4% 29.7% 31.2% 29.1% 22.7% 23.7% 16.2% 15.4% 16.4% 14.3% 23.4% 29.7% 32.7% 31.7% 25.1% 19.6% 23.5% 27.0% 26.8% 20.1% 20.15%
EPS 3Y 38.0% 18.1% 23.3% 14.5% 7.2% 26.2% -25.9% -44.5% -25.2% -35.9% 5.7% 14.6% 18.2% 18.8% 0.7% -10.6% 14.5% 17.4% 46.7% 26.8% 26.79%
EPS 5Y 35.8% 30.4% 34.0% 28.1% 13.0% 17.2% -5.0% -13.1% -0.1% -12.0% 8.6% 15.9% 23.1% 22.7% 5.1% -5.1% 3.7% 10.2% 8.5% -19.0% -18.98%
Net Income 3Y 60.5% 35.4% 44.9% 28.9% 18.5% 40.6% -20.2% -39.7% -17.0% -27.7% 21.8% 31.4% 32.1% 35.1% 16.5% 3.4% 33.5% 35.5% 64.4% 40.3% 40.31%
Net Income 5Y 58.6% 48.1% 53.9% 45.3% 26.0% 31.2% 6.1% -2.0% 13.8% 1.7% 29.1% 34.4% 38.1% 37.6% 19.7% 7.7% 17.6% 24.4% 17.5% -12.5% -12.50%
EBITDA 3Y 49.7% 29.9% 42.5% 32.0% 19.4% 42.7% -17.1% -40.7% -18.2% -35.8% 30.5% 42.0% 40.8% 46.4% 22.8% 8.1% 41.4% 42.9% 87.6% 1.2% 1.22%
EBITDA 5Y 48.7% 38.7% 45.7% 39.8% 21.8% 27.5% 3.4% -8.4% 8.8% -6.9% 29.3% 38.8% 42.8% 43.5% 24.0% 11.4% 22.1% 29.3% 33.3% 16.4% 16.37%
Gross Profit 3Y 47.2% 32.9% 37.5% 30.1% 26.3% 35.4% 3.2% -6.3% -1.7% -6.4% 26.6% 34.0% 33.1% 34.0% 21.3% 12.0% 28.5% 33.2% 52.8% 62.4% 62.40%
Gross Profit 5Y 38.5% 34.0% 38.9% 36.1% 27.9% 30.9% 20.0% 18.8% 19.9% 14.0% 28.1% 34.6% 37.1% 33.8% 22.4% 14.1% 20.5% 26.9% 31.2% 25.1% 25.14%
Op. Income 3Y 63.1% 35.9% 48.7% 36.3% 22.7% 48.0% -18.2% -43.8% -19.2% -37.9% 31.6% 43.1% 41.9% 48.1% 23.7% 8.9% 43.1% 44.0% 1.0% 1.8% 1.81%
Op. Income 5Y 60.7% 49.6% 57.5% 49.9% 28.7% 35.0% 9.1% -4.5% 13.6% -6.0% 32.9% 42.0% 46.2% 47.4% 24.9% 12.0% 22.9% 30.0% 39.4% 29.9% 29.90%
FCF 3Y 35.8% 29.1% -39.1% -2.8% -80.2% 29.0% 24.1% -16.9% 10.8% 18.2% -1.5% -16.2% -24.0% 8.1% 42.3% 42.32%
FCF 5Y 19.5% -2.0% -25.2% 15.3% -54.4% 46.9% 49.1% 7.4% 11.1% 4.8% -14.2% -16.0% -27.6% 1.4% 18.9% 40.0% 39.97%
OCF 3Y 35.8% 29.1% -39.1% -2.8% -80.2% 29.0% 24.1% -16.9% 10.8% 18.2% -1.5% -16.2% -24.0% 8.1% 42.3% 42.32%
OCF 5Y 19.5% -2.0% -25.2% 15.3% -54.4% 46.9% 49.1% 7.4% 11.1% 4.8% -14.2% -16.0% -27.6% 1.4% 18.9% 40.0% 39.97%
Assets 3Y 15.4% 15.4% 24.4% 24.4% 24.4% 24.4% 25.9% 25.9% 25.9% 25.9% 23.7% 23.7% 23.7% 23.7% 19.5% 19.5% 19.5% 19.5% 19.8% 19.8% 19.82%
Assets 5Y 18.7% 18.7% 18.9% 18.9% 18.9% 18.9% 16.2% 16.2% 16.2% 16.2% 24.9% 24.9% 24.9% 24.9% 24.3% 24.3% 24.3% 24.3% 18.8% 18.8% 18.81%
Equity 3Y 23.5% 23.5% 24.5% 24.5% 24.5% 24.5% 20.3% 20.3% 20.3% 20.3% 20.2% 20.2% 20.2% 20.2% 14.8% 14.8% 14.8% 14.8% 16.5% 16.5% 16.48%
Book Value 3Y 6.1% 7.8% 5.9% 10.5% 12.6% 11.7% 11.6% 10.6% 8.5% 6.7% 4.4% 4.9% 7.6% 5.8% -0.8% -0.8% -1.5% -0.6% 3.9% 5.3% 5.25%
Dividend 3Y -10.2% -9.1% -11.2% -7.2% -5.1% -5.2% -2.3% -3.6% -5.9% -6.8% -7.5% -6.0% -2.4% -5.1% -8.0% -9.1% -11.1% -10.6% -8.2% -6.9% -6.88%
Growth Quality
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Revenue Stability 0.93 0.94 0.94 0.99 0.92 0.95 0.77 0.66 0.76 0.76 0.77 0.61 0.64 0.69 0.78 0.64 0.73 0.74 0.89 0.73 0.726
Earnings Stability 0.92 0.83 0.95 0.96 0.77 0.86 0.21 0.06 0.18 0.12 0.32 0.27 0.38 0.34 0.44 0.14 0.42 0.52 0.55 0.00 0.000
Margin Stability 0.84 0.87 0.86 0.87 0.90 0.89 0.87 0.81 0.84 0.84 0.92 0.88 0.90 0.87 0.93 0.86 0.90 0.87 0.91 0.83 0.827
Rev. Growth Consistency 1.00 1.00 1.00 1.00 0.00 1.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 1.00 0.00 0.00 1.00 1.00 0.50 0.500
Earn. Growth Consistency 1.00 0.00 1.00 1.00 0.00 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 1.00 0.00 0.00 1.00 0.00 0.00 0.000
FCF Positive Streak 1 1 1 0 0 1 1 0 0 1 1 1 1 1 1 0 1 0 1 0 0
Earnings Persistence 0.91 0.94 0.50 0.96 0.91 0.84 0.50 0.50 0.84 0.50 0.50 0.50 0.50 0.50 0.86 0.82 0.92 0.84 0.97 0.50 0.500
Earnings Smoothness 0.79 0.85 0.58 0.90 0.73 0.67 0.00 0.00 0.51 0.00 0.00 0.00 0.00 0.00 0.71 0.40 0.76 0.66 0.92 0.18 0.181
ROE Trend 0.01 -0.01 0.00 -0.02 -0.04 -0.01 -0.05 -0.07 -0.04 -0.05 0.02 0.07 0.08 0.05 0.04 -0.01 0.01 0.07 -0.01 -0.07 -0.066
Gross Margin Trend -0.01 -0.05 -0.01 -0.03 -0.01 0.05 -0.05 -0.13 -0.10 -0.15 0.02 0.11 0.10 0.06 0.01 -0.04 0.00 0.11 0.10 0.16 0.163
FCF Margin Trend -0.20 -0.14 -0.19 -0.16 -0.19 -0.01 -0.17 0.24 0.29 -0.05 0.20 -0.04 -0.10 -0.09 -0.10 -0.31 -0.10 -0.18 0.11 0.32 0.319
Sustainable Growth Rate 0.6% -1.9% 1.0% 0.2% -2.7% -0.3% -5.7% -7.3% -5.5% -6.9% -0.6% 4.2% 4.3% 1.8% 0.4% -2.9% 0.2% 4.6% -1.0% -6.5% -6.52%
Internal Growth Rate 0.2% 0.3% 0.1% 1.4% 1.4% 0.6% 0.1% 0.1% 1.5%
Cash Flow Quality
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
OCF/Net Income 0.28 0.48 0.11 -0.00 -0.13 0.45 0.01 4.00 1.78 0.73 0.67 0.29 0.12 0.12 0.03 -0.39 0.25 -0.30 0.95 4.17 4.170
FCF/OCF 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.000
FCF/Net Income snapshot only 4.170
OCF/EBITDA snapshot only 0.949
CapEx/Revenue 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.00%
CapEx/Depreciation snapshot only 0.000
Accruals Ratio 0.03 0.02 0.03 0.03 0.03 0.02 0.01 -0.01 -0.01 0.00 0.01 0.03 0.04 0.03 0.03 0.03 0.02 0.06 0.00 -0.02 -0.023
Sloan Accruals snapshot only 0.131
Cash Flow Adequacy snapshot only 1.080
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Dividend Yield 2.9% 3.2% 3.0% 3.4% 4.6% 5.7% 6.0% 5.9% 6.5% 7.4% 4.9% 5.0% 5.8% 5.0% 5.5% 5.1% 5.6% 4.9% 5.3% 4.7% 4.15%
Dividend/Share $1.30 $1.37 $1.28 $1.32 $1.41 $1.42 $1.48 $1.44 $1.39 $1.36 $1.23 $1.30 $1.58 $1.60 $1.40 $1.43 $1.46 $1.47 $1.66 $1.69 $1.69
Payout Ratio 94.0% 1.2% 89.7% 97.3% 1.4% 1.0% 3.2% 6.7% 2.7% 3.8% 1.1% 68.5% 69.4% 85.1% 96.1% 1.5% 98.0% 66.7% 1.1% 3.9% 3.86%
FCF Payout Ratio 3.4% 2.5% 8.5% 2.3% 574.8% 1.7% 1.5% 5.2% 1.6% 2.4% 6.0% 7.4% 32.9% 3.9% 1.2% 92.6% 92.62%
Total Payout Ratio 94.0% 1.2% 89.7% 97.3% 1.4% 1.0% 3.2% 6.7% 2.7% 3.8% 1.1% 68.5% 69.4% 85.1% 96.1% 1.5% 98.0% 66.7% 1.2% 4.0% 4.01%
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 0.17 0.16 0.17 0.17 0.20 0.24 0.22 0.21 0.20 0.23 0.26 0.30 0.36 0.30 0.26 0.22 0.17 0.15 0.14 0.14 0.141
Buyback Yield 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.2% 0.2% 0.18%
Net Buyback Yield -6.6% -7.6% -5.2% -4.3% -6.5% -7.8% -8.6% -7.0% -21.8% -26.1% -15.2% -14.8% -7.0% -5.5% -5.8% -5.7% -6.7% -5.0% -5.8% -3.9% -3.92%
Total Shareholder Return -3.7% -4.5% -2.3% -0.9% -2.0% -2.1% -2.6% -1.1% -15.3% -18.7% -10.3% -9.8% -1.2% -0.5% -0.3% -0.6% -1.1% -0.1% -0.5% 0.7% 0.74%
DuPont Factors
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Tax Burden (NI/EBT) 0.92 0.93 0.88 0.84 0.89 0.86 0.84 1.09 0.97 1.41 0.82 0.76 0.74 0.71 0.73 0.72 0.72 0.71 0.67 0.64 0.644
Interest Burden (EBT/EBIT) 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.78 0.35 0.354
EBIT Margin 0.39 0.33 0.43 0.42 0.32 0.41 0.18 0.07 0.19 0.10 0.40 0.52 0.52 0.48 0.43 0.34 0.42 0.51 0.46 0.35 0.345
Asset Turnover 0.11 0.10 0.09 0.09 0.08 0.09 0.06 0.06 0.07 0.07 0.08 0.11 0.12 0.11 0.09 0.08 0.10 0.12 0.10 0.09 0.093
Equity Multiplier 2.73 2.73 2.77 2.77 2.77 2.77 2.81 2.81 2.81 2.81 3.04 3.04 3.04 3.04 3.08 3.08 3.08 3.08 3.11 3.11 3.109
Per Share
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
EPS (Diluted TTM) $1.38 $1.12 $1.43 $1.36 $0.99 $1.36 $0.46 $0.22 $0.52 $0.36 $1.15 $1.89 $2.28 $1.88 $1.46 $0.97 $1.49 $2.21 $1.46 $0.44 $0.44
Book Value/Share $14.68 $15.17 $17.43 $17.35 $17.75 $17.02 $18.18 $17.31 $16.29 $14.93 $16.14 $15.97 $18.28 $17.95 $17.04 $16.94 $16.96 $16.74 $20.38 $20.18 $19.87
Tangible Book/Share $14.68 $15.17 $17.43 $17.35 $17.75 $17.02 $18.18 $17.31 $16.29 $14.93 $16.14 $15.97 $18.28 $17.95 $17.04 $16.94 $16.96 $16.74 $20.38 $20.18 $20.18
Revenue/Share $3.87 $3.70 $3.83 $3.81 $3.46 $3.86 $3.02 $2.73 $2.90 $2.67 $3.55 $4.84 $5.93 $5.53 $4.60 $4.00 $4.89 $6.04 $6.10 $5.57 $5.57
FCF/Share $0.38 $0.54 $0.15 $-0.01 $-0.13 $0.61 $0.00 $0.86 $0.93 $0.26 $0.77 $0.55 $0.26 $0.22 $0.04 $-0.38 $0.38 $-0.66 $1.38 $1.83 $1.83
OCF/Share $0.38 $0.54 $0.15 $-0.01 $-0.13 $0.61 $0.00 $0.86 $0.93 $0.26 $0.77 $0.55 $0.26 $0.22 $0.04 $-0.38 $0.38 $-0.66 $1.38 $1.83 $1.83
Cash/Share $3.49 $3.61 $2.55 $2.54 $2.60 $2.49 $1.74 $1.65 $1.56 $1.43 $0.48 $0.48 $0.55 $0.54 $0.95 $0.94 $0.94 $0.93 $1.15 $1.14 $1.19
EBITDA/Share $1.55 $1.25 $1.67 $1.65 $1.16 $1.63 $0.59 $0.24 $0.58 $0.29 $1.43 $2.52 $3.10 $2.67 $2.00 $1.35 $2.08 $3.10 $2.78 $1.93 $1.93
Debt/Share $26.71 $27.59 $28.13 $27.99 $28.64 $27.47 $33.21 $31.61 $29.76 $27.26 $32.76 $32.42 $37.12 $36.43 $32.08 $31.89 $31.94 $31.51 $40.19 $39.79 $39.79
Net Debt/Share $23.22 $23.98 $25.58 $25.45 $26.04 $24.97 $31.47 $29.95 $28.20 $25.83 $32.28 $31.95 $36.57 $35.89 $31.14 $30.95 $31.00 $30.58 $39.04 $38.65 $38.65
Academic Models
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Altman-B Score 3.976
Altman Z-Prime snapshot only 4.016
Piotroski F-Score 6 4 6 5 2 6 3 4 5 3 7 7 7 6 5 2 4 5 7 8 8
Beneish M-Score -1.87 -1.79 -2.00 -2.18 -1.62 -1.91 22.53 -1.97 -2.13 -1.91 1.41 -1.05 -1.71 -21.55 -2.35 -2.22 -1.93 -0.68 -1.85 -279.65 -279.646
Ohlson O-Score snapshot only -7.085
ROIC (Greenblatt) snapshot only 6.41%
Net-Net WC snapshot only $-13.26
EVA snapshot only $-482999278.74
Credit
Metric Trend Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Current
Credit Rating snapshot only BBB+
Credit Score 74.17 74.20 72.15 73.09 72.45 74.61 57.32 48.97 57.30 57.44 66.74 82.22 82.70 80.93 77.14 79.93 82.83 84.80 71.01 60.11 60.107
Credit Grade snapshot only 8
Credit Trend snapshot only -19.822
Implied Spread (bps) snapshot only 225.000
Industry Credit Rank snapshot only 50
Sector Credit Rank snapshot only 46

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