Also trades as: 0R0A.L (LSE) · $vol 1M · HCL.DE (XETRA) · $vol 1M · HL-PB (NYSE) · $vol 0M

$16.98

-0.32 (-1.83%)

Weekly Expected Move ±10.8%

$14 $16 $18 $20 $21

NYSE · Basic Materials · Silver · Alpha Radar Sell · Power 41 · $11.4B mcap · 662M float · 2.46% daily turnover · Short 51% of daily vol

Overview News Chart Smart Money Financials Income Statement Cash Flow Balance Sheet Earnings

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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.

NARROW EDGE

65.3 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 19.0% · 5Y Avg: 3.4%

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. HL has a Narrow competitive edge (65.3/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Intangible Assets. ROIC of 19.0% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

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

$27

Low

$27

Avg Target

$27

High

Based on 1 analyst since May 5, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 14Sell: 3Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$25.38

Analysts2

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-06	H.C. Wainwright	—	$36	$27	-10	+49.4%	$17.90
2026-04-29	Canaccord Genuity	Dalton Baretto	$26	$24	-2	+38.2%	$17.37
2026-02-18	Roth Capital	—	$16	$13	-3	-42.4%	$22.55
2026-01-27	H.C. Wainwright	Heiko Ihle	$6	$36	+30	+30.6%	$27.95
2026-01-27	Roth Capital	Joe Reagor	$9	$16	+7	-46.6%	$29.97
2026-01-27	BMO Capital	Kevin O'Halloran	$6	$28	+22	-6.6%	$29.97
2026-01-26	Scotiabank	Eric Winmill	Initiated	$25	—	-24.8%	$33.26
2026-01-23	Canaccord Genuity	—	Initiated	$26	—	-16.1%	$31.57
2025-11-25	CIBC	—	$15	$16	+2	+12.1%	$14.72
2025-10-10	CIBC	Cosmos Chiu	$8	$15	+8	+19.6%	$12.54
2025-10-03	Roth Capital	—	$6	$9	+3	-27.4%	$12.06
2025-06-13	National Bank	Alex Terentiew	Initiated	$7	—	+16.5%	$6.01
2025-05-05	TD Securities	Wayne Lam	Initiated	$5	—	+4.4%	$4.79
2025-05-02	BMO Capital	Kevin O'Halloran	$5	$6	+0	+21.1%	$4.54
2024-09-16	B.Riley Financial	Adam Graf	Initiated	$7	—	+2.6%	$6.82
2024-05-22	CIBC	Cosmos Chiu	Initiated	$8	—	+24.2%	$6.04
2024-05-09	Cantor Fitzgerald	Mike Kozak	Initiated	$6	—	+9.7%	$5.47
2024-04-09	Roth Capital	Joe Reagor	$4	$6	+2	+10.3%	$5.44
2023-09-19	Roth Capital	Joe Reagor	Initiated	$4	—	-0.7%	$4.03
2023-01-13	BMO Capital	—	Initiated	$5	—	-16.4%	$5.98
2022-07-29	H.C. Wainwright	Heiko Ihle	Initiated	$6	—	+43.5%	$4.53

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.

May 22, 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. HL receives an overall rating of B. Strongest factors: ROE (4/5), ROA (5/5). Areas of concern: P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-05-11	B+	B
2026-05-08	B	B+
2026-04-28	B-	B
2026-04-01	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.

★ ★ ★ ★ ★ 81 Grade A+

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

100

Safety

100

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. HL scores highest in Safety (100/100) and lowest in Value (46/100). An overall grade of A+ places HL 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 Z-Score

7.42

Safe Zone

Piotroski F-Score

8/9

✓ ✓ ✓ ✓ ✓ ✓ ✗ ✓ ✓

Beneish M-Score

-0.33

Possible Manipulator

Ohlson O-Score

-10.11

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 92.1/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 2.63x

Accruals: -13.2%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. HL scores 7.42, placing it in the Safe Zone (safe > 2.99, distress < 1.81). 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. HL 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. HL's score of -0.33 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. HL's implied 0.0% 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. HL receives an estimated rating of AA+ (score: 92.1/100), 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). HL's score of 75/100 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

41.57x

PEG

0.02x

P/S

7.24x

P/B

4.43x

P/FCF

23.22x

P/OCF

17.44x

EV/EBITDA

14.87x

EV/Revenue

7.99x

EV/EBIT

18.35x

EV/FCF

23.22x

Earnings Yield

2.18%

FCF Yield

4.31%

Shareholder Yield

0.10%

Graham Number

$5.92

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 41.6x earnings, HL is priced for high growth expectations. Graham's intrinsic value formula yields $5.92 per share, 187% 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

0.421

NI / EBT

Interest Burden

0.948

EBT / EBIT

EBIT Margin

0.436

EBIT / Rev

Asset Turnover

0.465

Rev / Assets

Equity Multiplier

1.460

Assets / Equity

ROE

11.8%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. HL's ROE of 11.8% is driven by Asset Turnover (0.465), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.42 suggests the company retains less than 60% of pre-tax earnings after taxes.

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

265.50%

Fair P/E

539.50x

Intrinsic Value

$218.79

Price/Value

0.09x

Margin of Safety

91.49%

Premium

-91.49%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with HL's realized 265.5% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $218.79, HL appears undervalued with a 91% margin of safety. The adjusted fair P/E of 539.5x compares to the current market P/E of 41.6x.

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

$16.99

Median 1Y

$17.95

5th Pctile

$5.92

95th Pctile

$54.68

Ann. Volatility

66.9%

Analyst Target

$25.38

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

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Rob Krcmarov President and CEO	$850,000	$2,800,534	$5,453,167
Michael L. Clary Former Senior Vice President – Chief Administrative Officer	$370,208	$353,372	$3,314,621
Carlos Aguiar Sr. Vice President – Chief Operating Officer	$404,938	$384,292	$1,840,266
Russell D. Lawlar Sr. Vice President – Chief Financial Officer	$404,938	$384,292	$1,795,633
David C. Sienko Sr. Vice President – General Counsel and Secretary	$370,208	$353,372	$1,697,142

CEO Pay Ratio

176:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $5,453,167

Avg Employee Cost (SGA/emp): $30,899

Employees: 1,865

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

1,865

+1.9% YoY

Revenue / Employee

$763,013

Rev: $1,423,019,000

Profit / Employee

$172,500

NI: $321,712,000

SGA / Employee

$30,899

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	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	2.4%	1.4%	2.0%	1.0%	0.1%	-1.2%	-2.0%	-2.4%	-2.5%	-2.4%	-4.3%	-4.4%	-2.2%	-1.0%	1.8%	3.5%	5.0%	9.9%	13.9%	11.8%	11.82%
ROA	1.5%	0.9%	1.3%	0.7%	0.1%	-0.8%	-1.3%	-1.6%	-1.7%	-1.6%	-2.8%	-2.9%	-1.5%	-0.6%	1.2%	2.4%	3.3%	6.6%	9.5%	8.1%	8.10%
ROIC	5.6%	5.2%	25.3%	2.2%	1.4%	0.7%	-0.0%	-0.3%	-0.4%	-0.0%	-1.4%	-1.4%	-0.3%	0.8%	2.2%	3.7%	4.8%	8.3%	13.6%	19.0%	18.99%
ROCE	3.4%	2.4%	1.8%	1.2%	0.7%	-0.3%	-0.1%	-0.5%	-0.4%	-0.1%	-1.4%	-1.4%	0.3%	1.6%	4.2%	5.9%	7.8%	13.0%	14.7%	19.3%	19.31%
Gross Margin	28.4%	18.2%	28.8%	24.4%	19.5%	5.8%	10.5%	17.5%	21.1%	18.4%	4.3%	10.1%	20.9%	24.2%	27.4%	28.3%	39.3%	44.1%	55.4%	61.6%	61.55%
Operating Margin	13.4%	-4.4%	11.8%	7.9%	4.0%	-17.4%	0.8%	2.8%	2.7%	-6.9%	-26.4%	2.7%	16.5%	9.2%	15.3%	20.0%	30.8%	36.3%	50.9%	55.3%	55.33%
Net Margin	1.3%	-0.5%	6.4%	2.2%	-7.1%	-16.1%	-2.3%	-1.6%	-8.8%	-12.3%	-26.7%	-3.0%	11.3%	0.7%	4.8%	11.0%	19.0%	24.6%	30.0%	-4.6%	-4.62%
EBITDA Margin	25.1%	26.8%	16.0%	29.8%	18.5%	7.5%	20.0%	25.1%	19.4%	13.1%	9.6%	31.6%	42.1%	27.8%	30.0%	36.6%	45.8%	53.1%	52.0%	62.1%	62.14%
FCF Margin	18.2%	14.2%	13.8%	14.2%	8.3%	-2.1%	-8.2%	-12.2%	-17.0%	-14.0%	-20.6%	-23.2%	-14.0%	-7.7%	0.4%	1.6%	14.1%	19.6%	25.9%	34.4%	34.43%
OCF Margin	32.1%	28.6%	27.3%	28.1%	23.0%	15.1%	12.5%	12.7%	10.6%	14.7%	10.5%	7.3%	13.7%	18.0%	23.5%	23.7%	30.2%	33.7%	39.5%	45.8%	45.84%
ROE 3Y Avg	snapshot only																				3.20%
ROE 5Y Avg	snapshot only																				1.67%
ROA 3Y Avg	snapshot only																				2.24%
ROIC 3Y Avg	snapshot only																				6.13%
ROIC Economic	snapshot only																				17.20%
Cash ROA	snapshot only																				19.08%
Cash ROIC	snapshot only																				27.85%
CROIC	snapshot only																				20.92%
NOPAT Margin	snapshot only																				31.26%
Pretax Margin	snapshot only																				41.30%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				3.90%
SBC / Revenue	snapshot only																				0.53%

Valuation

Metric	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	98.15	120.74	79.55	197.79	1364.41	-102.62	-81.66	-84.09	-65.77	-51.57	-34.58	-34.01	-69.51	-218.68	86.60	50.11	38.22	40.81	40.19	45.94	41.573
P/S Ratio	4.84	3.57	3.46	4.49	2.75	3.04	4.23	5.12	4.27	3.12	4.04	4.16	3.86	4.96	3.33	3.52	3.61	6.64	9.09	8.00	7.240
P/B Ratio	2.31	1.69	1.59	2.00	1.18	1.23	1.54	1.90	1.56	1.19	1.48	1.50	1.53	2.12	1.52	1.73	1.88	3.99	4.99	4.85	4.428
P/FCF	26.54	25.21	25.09	31.66	33.24	-144.29	-51.72	-42.09	-25.09	-22.22	-19.63	-17.88	-27.55	-64.47	819.12	221.43	25.64	33.84	35.11	23.22	23.223
P/OCF	15.05	12.50	12.67	15.98	11.95	20.14	33.74	40.35	40.17	21.20	38.57	56.79	28.11	27.47	14.20	14.89	11.97	19.68	22.98	17.44	17.442
EV/EBITDA	17.20	13.88	14.18	20.06	13.98	18.90	24.56	30.76	25.97	18.80	27.97	26.22	17.57	19.12	11.82	11.84	11.52	16.40	18.86	14.87	14.873
EV/Revenue	5.33	4.07	3.87	4.92	3.19	3.51	4.81	5.69	4.86	3.68	4.82	4.94	4.58	5.62	3.90	4.05	4.11	7.07	9.08	7.99	7.994
EV/EBIT	49.82	54.01	65.74	125.29	126.42	-308.40	-921.31	-304.48	-313.30	-1259.56	-87.43	-85.14	420.41	103.17	31.23	24.73	20.18	23.99	24.82	18.35	18.348
EV/FCF	29.25	28.72	28.04	34.62	38.49	-166.31	-58.88	-46.83	-28.53	-26.20	-23.38	-21.25	-32.66	-73.08	957.52	254.30	29.15	36.02	35.10	23.22	23.218
Earnings Yield	1.0%	0.8%	1.3%	0.5%	0.1%	-1.0%	-1.2%	-1.2%	-1.5%	-1.9%	-2.9%	-2.9%	-1.4%	-0.5%	1.2%	2.0%	2.6%	2.5%	2.5%	2.2%	2.18%
FCF Yield	3.8%	4.0%	4.0%	3.2%	3.0%	-0.7%	-1.9%	-2.4%	-4.0%	-4.5%	-5.1%	-5.6%	-3.6%	-1.6%	0.1%	0.5%	3.9%	3.0%	2.8%	4.3%	4.31%
PEG Ratio	snapshot only																				0.024
Price/Tangible Book	snapshot only																				4.853
EV/OCF	snapshot only																				17.438
EV/Gross Profit	snapshot only																				15.691
Acquirers Multiple	snapshot only																				18.008
Shareholder Yield	snapshot only																				0.10%
Graham Number	snapshot only																				$5.92

Leverage & Solvency

Metric	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	1.93	1.93	2.13	2.13	2.13	2.13	1.50	1.50	1.50	1.50	1.65	1.65	1.65	1.65	1.08	1.08	1.08	1.08	2.72	2.72	2.718
Quick Ratio	1.28	1.28	1.71	1.71	1.71	1.71	0.99	0.99	0.99	0.99	1.06	1.06	1.06	1.06	0.55	0.55	0.55	0.55	2.22	2.22	2.222
Debt/Equity	0.31	0.31	0.31	0.31	0.31	0.31	0.27	0.27	0.27	0.27	0.34	0.34	0.34	0.34	0.27	0.27	0.27	0.27	0.12	0.12	0.115
Net Debt/Equity	0.24	0.24	0.19	0.19	0.19	0.19	0.21	0.21	0.21	0.21	0.28	0.28	0.28	0.28	0.26	0.26	0.26	0.26	-0.00	-0.00	-0.001
Debt/Assets	0.20	0.20	0.20	0.20	0.20	0.20	0.18	0.18	0.18	0.18	0.22	0.22	0.22	0.22	0.18	0.18	0.18	0.18	0.08	0.08	0.079
Debt/EBITDA	2.11	2.24	2.45	2.81	3.13	4.10	3.73	3.88	3.91	3.56	5.35	4.95	3.27	2.68	1.80	1.61	1.46	1.04	0.44	0.35	0.353
Net Debt/EBITDA	1.59	1.70	1.50	1.72	1.91	2.50	2.99	3.11	3.13	2.86	4.49	4.16	2.75	2.25	1.71	1.53	1.38	0.99	-0.00	-0.00	-0.003
Interest Coverage	2.06	1.45	1.13	0.74	0.46	-0.19	-0.09	-0.32	-0.26	-0.05	-0.92	-0.90	0.18	0.95	2.33	3.36	4.56	7.24	12.52	19.21	19.206
Equity Multiplier	1.58	1.58	1.55	1.55	1.55	1.55	1.48	1.48	1.48	1.48	1.53	1.53	1.53	1.53	1.46	1.46	1.46	1.46	1.46	1.46	1.459
Cash Ratio	snapshot only																				1.301
Debt Service Coverage	snapshot only																				23.693
Cash to Debt	snapshot only																				1.009
FCF to Debt	snapshot only																				1.814
Defensive Interval	snapshot only																				1729.2 days

Efficiency & Turnover

Metric	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	0.31	0.30	0.30	0.29	0.28	0.26	0.26	0.26	0.25	0.27	0.24	0.24	0.26	0.28	0.31	0.33	0.35	0.41	0.42	0.47	0.465
Inventory Turnover	7.18	7.39	7.19	7.16	7.14	6.89	7.69	7.99	7.82	7.95	6.59	6.65	7.24	7.64	7.37	7.54	7.44	7.88	7.29	7.02	7.024
Receivables Turnover	41.06	40.75	22.29	21.62	20.88	19.58	14.36	14.62	14.36	15.07	16.19	15.97	17.49	18.91	28.78	31.00	32.80	37.89	14.11	15.60	15.595
Payables Turnover	9.23	9.51	8.63	8.60	8.57	8.27	7.97	8.28	8.10	8.24	7.30	7.37	8.01	8.46	8.57	8.77	8.66	9.17	8.38	8.07	8.070
DSO	9	9	16	17	17	19	25	25	25	24	23	23	21	19	13	12	11	10	26	23	23.4 days
DIO	51	49	51	51	51	53	47	46	47	46	55	55	50	48	50	48	49	46	50	52	52.0 days
DPO	40	38	42	42	43	44	46	44	45	44	50	50	46	43	43	42	42	40	44	45	45.2 days
Cash Conversion Cycle	20	20	25	25	26	27	27	27	27	26	28	28	26	24	20	19	18	16	32	30	30.1 days
Fixed Asset Turnover	snapshot only																				0.552
Operating Cycle	snapshot only																				75.4 days
Cash Velocity	snapshot only																				5.223
Capital Intensity	snapshot only																				2.403

Growth (YoY)

Metric	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	18.5%	11.5%	16.7%	2.3%	-7.5%	-12.6%	-10.7%	-6.2%	-4.7%	6.7%	-0.1%	-3.3%	7.9%	11.1%	29.1%	41.0%	36.3%	45.6%	53.0%	57.0%	57.04%
Net Income	1.7%	2.0%	3.3%	-24.3%	-96.2%	-1.9%	-2.1%	-3.5%	-31.7%	-1.2%	-1.3%	-94.3%	7.7%	58.3%	1.4%	1.8%	3.3%	11.5%	8.0%	2.9%	2.89%
EPS	1.7%	2.0%	3.3%	-24.8%	-96.2%	-1.8%	-2.0%	-3.3%	-28.4%	-98.5%	-1.0%	-89.2%	10.4%	59.5%	1.4%	1.8%	3.3%	10.7%	7.4%	2.7%	2.65%
FCF	1.0%	20.7%	24.0%	-8.3%	-57.9%	-1.1%	-1.5%	-1.8%	-3.0%	-6.1%	-1.5%	-85.0%	11.2%	39.1%	1.0%	1.1%	2.4%	4.7%	96.3%	33.0%	32.99%
EBITDA	35.0%	12.4%	12.7%	-19.9%	-31.9%	-44.8%	-35.8%	-29.2%	-21.8%	12.4%	-12.3%	-1.5%	50.2%	67.0%	1.5%	1.6%	86.6%	1.1%	1.2%	1.5%	1.47%
Op. Income	66.3%	1.2%	45.5%	-49.6%	-72.9%	-78.3%	-1.0%	-1.2%	-1.4%	-1.0%	-31.8%	-3.3%	30.4%	40.5%	3.4%	4.4%	23.1%	11.9%	3.9%	3.5%	3.55%
OCF Growth	snapshot only																				2.04%
Asset Growth	snapshot only																				26.81%
Equity Growth	snapshot only																				27.07%
Debt Growth	snapshot only																				-45.78%
Shares Change	snapshot only																				6.37%
Dividend Growth	snapshot only																				-55.34%

Growth (CAGR)

Metric	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	11.6%	11.2%	12.5%	10.5%	10.1%	6.6%	2.3%	3.7%	1.5%	1.3%	1.3%	-2.5%	-1.6%	1.2%	4.8%	8.6%	11.9%	20.0%	25.4%	28.9%	28.92%
Revenue 5Y	9.4%	6.3%	4.6%	3.6%	4.0%	4.0%	4.5%	5.0%	4.2%	5.1%	4.9%	4.1%	6.5%	7.5%	6.7%	8.8%	9.0%	11.0%	15.5%	15.5%	15.49%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-4.3%	50.3%	2.8%	—	—	—	—
EPS 5Y	—	—	-18.1%	-33.1%	-53.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	56.3%	56.30%
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.7%	58.2%	3.0%	—	—	—	—
Net Income 5Y	—	—	-12.8%	-28.8%	-50.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	63.4%	63.41%
EBITDA 3Y	7.1%	5.9%	11.1%	15.4%	37.3%	18.4%	3.0%	-3.4%	-10.4%	-11.3%	-14.1%	-17.6%	-7.2%	1.2%	11.7%	21.3%	29.9%	58.9%	69.3%	83.9%	83.94%
EBITDA 5Y	8.7%	1.9%	-2.3%	-4.7%	-3.9%	-5.8%	-3.7%	-5.9%	-8.2%	-5.9%	-5.0%	1.4%	24.9%	25.5%	18.8%	17.8%	15.1%	20.0%	28.5%	28.7%	28.69%
Gross Profit 3Y	12.6%	18.3%	40.2%	64.8%	—	—	68.5%	47.9%	5.9%	-0.7%	-9.2%	-22.3%	-22.1%	-13.5%	-3.1%	8.9%	23.3%	45.2%	77.1%	99.2%	99.17%
Gross Profit 5Y	19.0%	5.8%	2.6%	0.0%	0.3%	-1.2%	-6.5%	-8.8%	-9.2%	-0.1%	7.4%	17.3%	—	—	53.3%	51.9%	30.3%	27.9%	32.8%	31.1%	31.10%
Op. Income 3Y	29.7%	1.1%	—	—	—	—	—	—	—	—	—	—	—	-33.3%	8.4%	39.0%	79.5%	1.6%	—	—	—
Op. Income 5Y	31.2%	-1.4%	-6.5%	-13.4%	-14.8%	-21.3%	—	—	—	—	—	—	—	—	—	—	—	53.1%	55.6%	43.8%	43.83%
FCF 3Y	90.1%	1.7%	—	—	—	—	—	—	—	—	—	—	—	—	-67.6%	-47.7%	33.6%	—	—	—	—
FCF 5Y	—	24.6%	12.9%	3.6%	4.1%	—	—	—	—	—	—	—	—	—	1.6%	—	15.0%	20.3%	32.6%	34.9%	34.90%
OCF 3Y	30.9%	25.6%	32.7%	31.1%	46.0%	9.0%	-9.4%	-4.3%	-20.9%	-13.8%	-25.3%	-37.6%	-25.9%	-13.2%	-0.3%	2.5%	22.5%	56.8%	83.9%	97.9%	97.86%
OCF 5Y	13.3%	2.9%	-0.4%	-2.1%	-1.2%	-3.2%	-4.8%	-0.2%	-8.1%	-1.0%	-4.3%	-11.9%	13.8%	12.9%	12.4%	17.4%	15.6%	18.9%	25.5%	27.5%	27.53%
Assets 3Y	4.5%	4.5%	0.3%	0.3%	0.3%	0.3%	3.5%	3.5%	3.5%	3.5%	3.7%	3.7%	3.7%	3.7%	3.0%	3.0%	3.0%	3.0%	8.9%	8.9%	8.90%
Assets 5Y	4.0%	4.0%	2.8%	2.8%	2.8%	2.8%	4.4%	4.4%	4.4%	4.4%	2.2%	2.2%	2.2%	2.2%	2.5%	2.5%	2.5%	2.5%	7.0%	7.0%	6.96%
Equity 3Y	4.9%	4.9%	1.4%	1.4%	1.4%	1.4%	5.4%	5.4%	5.4%	5.4%	4.7%	4.7%	4.7%	4.7%	5.0%	5.0%	5.0%	5.0%	9.4%	9.4%	9.41%
Book Value 3Y	-4.9%	-0.9%	-2.7%	-2.6%	-2.1%	-2.7%	2.0%	0.6%	0.6%	1.0%	0.3%	0.2%	0.0%	-0.5%	-0.1%	-0.2%	-0.8%	-1.5%	2.5%	5.2%	5.19%
Dividend 3Y	31.4%	47.5%	26.0%	11.1%	-4.4%	-17.3%	-17.2%	-15.7%	-10.6%	-3.9%	2.2%	1.4%	0.3%	7.8%	11.5%	8.9%	5.8%	-13.3%	-30.4%	-26.5%	-26.51%

Growth Quality

Metric	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	0.79	0.64	0.51	0.52	0.58	0.59	0.71	0.74	0.49	0.50	0.50	0.35	0.43	0.63	0.45	0.51	0.58	0.57	0.62	0.55	0.549
Earnings Stability	0.00	0.00	0.04	0.03	0.00	0.00	0.06	0.16	0.06	0.09	0.00	0.00	0.14	0.19	0.14	0.11	0.18	0.32	0.37	0.34	0.336
Margin Stability	0.26	0.39	0.45	0.38	0.28	0.39	0.48	0.49	0.64	0.82	0.71	0.52	0.26	0.37	0.47	0.47	0.60	0.61	0.51	0.42	0.419
Rev. Growth Consistency	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00	0.50	1.00	0.50	0.50	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	1	1	0
Earnings Persistence	0.20	0.20	0.20	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.500
Earnings Smoothness	—	—	—	0.72	0.00	—	—	—	—	—	—	—	—	—	—	—	—	—	0.00	0.00	0.000
ROE Trend	0.08	0.06	0.05	0.03	0.01	-0.01	-0.02	-0.03	-0.04	-0.02	-0.04	-0.04	-0.01	0.01	0.05	0.07	0.07	0.11	0.14	0.11	0.110
Gross Margin Trend	0.24	0.17	0.14	0.09	0.02	-0.02	-0.09	-0.12	-0.12	-0.06	-0.06	-0.06	-0.04	-0.02	0.06	0.12	0.16	0.20	0.25	0.31	0.315
FCF Margin Trend	0.22	0.13	0.07	0.06	-0.06	-0.16	-0.22	-0.27	-0.30	-0.20	-0.23	-0.24	-0.10	0.00	0.15	0.19	0.30	0.30	0.36	0.45	0.453
Sustainable Growth Rate	1.4%	0.1%	0.8%	-0.1%	-0.9%	—	—	—	—	—	—	—	—	—	0.5%	2.3%	3.9%	9.1%	13.4%	11.4%	11.36%
Internal Growth Rate	0.9%	0.1%	0.5%	—	—	—	—	—	—	—	—	—	—	—	0.4%	1.6%	2.7%	6.5%	10.1%	8.4%	8.44%

Cash Flow Quality

Metric	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	6.52	9.66	6.28	12.38	114.15	-5.10	-2.42	-2.08	-1.64	-2.43	-0.90	-0.60	-2.47	-7.96	6.10	3.36	3.19	2.07	1.75	2.63	2.634
FCF/OCF	0.57	0.50	0.51	0.50	0.36	-0.14	-0.65	-0.96	-1.60	-0.95	-1.97	-3.18	-1.02	-0.43	0.02	0.07	0.47	0.58	0.65	0.75	0.751
FCF/Net Income	snapshot only																				1.978
OCF/EBITDA	snapshot only																				0.853
CapEx/Revenue	13.9%	14.4%	13.5%	13.9%	14.7%	17.2%	20.7%	24.8%	27.7%	28.7%	31.1%	30.6%	27.8%	25.7%	23.1%	22.1%	16.1%	14.1%	13.7%	11.4%	11.41%
CapEx/Depreciation	snapshot only																				1.121
Accruals Ratio	-0.08	-0.08	-0.07	-0.07	-0.06	-0.05	-0.05	-0.05	-0.04	-0.06	-0.05	-0.05	-0.05	-0.06	-0.06	-0.06	-0.07	-0.07	-0.07	-0.13	-0.132
Sloan Accruals	snapshot only																				0.065
Cash Flow Adequacy	snapshot only																				3.792
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	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	0.4%	0.8%	0.7%	0.5%	0.8%	0.7%	0.4%	0.4%	0.4%	0.6%	0.5%	0.5%	0.5%	0.5%	0.8%	0.7%	0.6%	0.2%	0.1%	0.1%	0.09%
Dividend/Share	$0.03	$0.04	$0.04	$0.04	$0.03	$0.03	$0.02	$0.02	$0.02	$0.02	$0.03	$0.03	$0.03	$0.03	$0.04	$0.04	$0.03	$0.02	$0.02	$0.02	$0.01
Payout Ratio	42.8%	91.4%	58.9%	1.1%	10.9%	—	—	—	—	—	—	—	—	—	70.8%	33.9%	22.3%	8.2%	3.2%	3.9%	3.89%
FCF Payout Ratio	11.6%	19.1%	18.6%	17.4%	26.7%	—	—	—	—	—	—	—	—	—	6.7%	1.5%	15.0%	6.8%	2.8%	2.0%	1.97%
Total Payout Ratio	54.1%	1.1%	71.8%	1.4%	13.4%	—	—	—	—	—	—	—	—	—	70.8%	35.6%	22.6%	8.3%	3.5%	4.6%	4.64%
Div. Increase Streak	1	1	1	1	0	0	0	0	0	0	0	0	0	1	1	1	1	0	0	0	0
Chowder Number	2.05	2.82	1.27	0.55	-0.02	-0.35	-0.37	-0.31	-0.17	0.01	0.22	0.19	0.16	0.47	0.62	0.51	0.41	-0.21	-0.59	-0.55	-0.553
Buyback Yield	0.1%	0.2%	0.2%	0.2%	0.2%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.02%
Net Buyback Yield	0.1%	0.2%	0.2%	0.2%	0.2%	-0.0%	-0.4%	-0.7%	-1.3%	-1.6%	-1.9%	-1.5%	-1.0%	-2.1%	-1.9%	-1.6%	-6.0%	-2.7%	-1.7%	-1.7%	-1.70%
Total Shareholder Return	0.6%	0.9%	0.9%	0.7%	1.0%	0.6%	-0.0%	-0.4%	-0.9%	-1.0%	-1.3%	-0.9%	-0.5%	-1.6%	-1.1%	-0.9%	-5.4%	-2.5%	-1.6%	-1.6%	-1.62%

DuPont Factors

Metric	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)	0.89	1.26	6.35	-1.64	-0.07	0.42	0.83	0.82	0.90	1.07	1.01	1.00	1.09	7.96	0.54	0.61	0.60	0.64	0.67	0.42	0.421
Interest Burden (EBT/EBIT)	0.51	0.31	0.12	-0.35	-1.19	6.24	11.92	3.98	4.64	19.36	2.09	2.11	-4.66	-0.05	0.57	0.70	0.78	0.86	0.92	0.95	0.948
EBIT Margin	0.11	0.08	0.06	0.04	0.03	-0.01	-0.01	-0.02	-0.02	-0.00	-0.06	-0.06	0.01	0.05	0.12	0.16	0.20	0.29	0.37	0.44	0.436
Asset Turnover	0.31	0.30	0.30	0.29	0.28	0.26	0.26	0.26	0.25	0.27	0.24	0.24	0.26	0.28	0.31	0.33	0.35	0.41	0.42	0.47	0.465
Equity Multiplier	1.57	1.57	1.56	1.56	1.56	1.56	1.51	1.51	1.51	1.51	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.50	1.46	1.46	1.460

Per Share

Metric	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)	$0.07	$0.04	$0.06	$0.03	$0.00	$-0.04	$-0.07	$-0.07	$-0.08	$-0.08	$-0.14	$-0.14	$-0.07	$-0.03	$0.06	$0.11	$0.16	$0.30	$0.48	$0.41	$0.41
Book Value/Share	$3.16	$3.19	$3.24	$3.24	$3.26	$3.18	$3.57	$3.30	$3.28	$3.26	$3.22	$3.19	$3.16	$3.15	$3.23	$3.21	$3.19	$3.04	$3.85	$3.84	$3.83
Tangible Book/Share	$3.16	$3.19	$3.24	$3.24	$3.26	$3.18	$3.57	$3.30	$3.28	$3.26	$3.22	$3.19	$3.16	$3.15	$3.23	$3.21	$3.19	$3.04	$3.85	$3.84	$3.84
Revenue/Share	$1.51	$1.51	$1.49	$1.44	$1.40	$1.28	$1.30	$1.22	$1.19	$1.24	$1.18	$1.15	$1.25	$1.34	$1.47	$1.58	$1.66	$1.82	$2.11	$2.33	$2.35
FCF/Share	$0.27	$0.21	$0.20	$0.20	$0.12	$-0.03	$-0.11	$-0.15	$-0.20	$-0.17	$-0.24	$-0.27	$-0.18	$-0.10	$0.01	$0.03	$0.23	$0.36	$0.55	$0.80	$0.72
OCF/Share	$0.48	$0.43	$0.41	$0.40	$0.32	$0.19	$0.16	$0.16	$0.13	$0.18	$0.12	$0.08	$0.17	$0.24	$0.35	$0.37	$0.50	$0.61	$0.84	$1.07	$1.08
Cash/Share	$0.24	$0.24	$0.39	$0.39	$0.39	$0.38	$0.19	$0.17	$0.17	$0.17	$0.17	$0.17	$0.17	$0.17	$0.04	$0.04	$0.04	$0.04	$0.45	$0.45	$0.91
EBITDA/Share	$0.47	$0.44	$0.41	$0.35	$0.32	$0.24	$0.25	$0.23	$0.22	$0.24	$0.20	$0.22	$0.33	$0.39	$0.49	$0.54	$0.59	$0.79	$1.02	$1.25	$1.25
Debt/Share	$0.98	$0.99	$0.99	$0.99	$1.00	$0.97	$0.95	$0.88	$0.87	$0.87	$1.09	$1.08	$1.07	$1.06	$0.87	$0.87	$0.86	$0.82	$0.44	$0.44	$0.44
Net Debt/Share	$0.74	$0.75	$0.61	$0.61	$0.61	$0.59	$0.76	$0.70	$0.70	$0.69	$0.91	$0.90	$0.89	$0.89	$0.83	$0.83	$0.82	$0.78	$-0.00	$-0.00	$-0.00

Academic Models

Metric	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 Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	7.423
Altman Z-Prime	snapshot only																				12.863
Piotroski F-Score	8	7	8	6	6	4	3	3	4	5	4	4	6	7	6	6	6	6	8	8	8
Beneish M-Score	-2.78	-2.26	-2.18	-1.99	-1.83	-0.89	-1.63	-2.26	-2.42	-2.71	-2.40	-2.71	-2.91	-3.09	-2.73	-2.69	-2.68	-2.58	-0.19	-0.33	-0.330
Ohlson O-Score	snapshot only																				-10.112
ROIC (Greenblatt)	snapshot only																				21.11%
Net-Net WC	snapshot only																				$-0.83
EVA	snapshot only																				$232820874.91

Credit

Metric	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																				AA+
Credit Score	54.39	46.27	49.97	46.61	39.40	31.86	35.76	36.42	37.15	30.66	29.53	30.27	34.16	46.05	49.96	56.39	59.29	85.36	95.26	92.07	92.073
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				35.681
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				76
Sector Credit Rank	snapshot only																				91

HL NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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