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HNI NYSE

HNI Corporation
1W: +3.6% 1M: +1.6% 3M: +12.1% YTD: +14.8% 1Y: +8.9% 3Y: +54.0% 5Y: +46.3%
$47.63
-0.07 (-0.15%)
 
Weekly Expected Move ±4.8%
$43 $45 $48 $50 $52
NYSE · Consumer Cyclical · Furnishings, Fixtures & Appliances · Tech Score Buy · Power 64 · $3.4B mcap · 71M float · 0.854% daily turnover · Short 66% of daily vol
Credit Risk of going bust: lower than 56% of companies Debt: 32.8% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.42 (down 97%), HNI Corporation would be worth roughly what it owes.
Total debt $1.68B against a stock market value of $3.44B.
Distance to default 5.70 (Merton model): prices to 2026-10-27, balance sheet 2026-07-04, debt counted $729.4M (short-term plus half of long-term), stock volatility 36.5%; Altman Z 1.94. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

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.

WIDE EDGE
71.2 / 100
NoneWeakNarrowWide
Primary source: Efficient Scale  ·  ROIC: 1.2%  ·  5Y Avg: 10.4%
Cost Advantage
52
Intangibles
84
Switching Cost
78
Network Effect
50
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. HNI possesses a Wide competitive edge (71.2/100) — durable structural advantages that are difficult for competitors to erode. The primary source of advantage is Efficient Scale. ROIC of 1.2% 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
$0
Low
$65
Avg Target
$65
High
Based on 1 analyst ratings (12 mo)
Analyst Recommendations
Strong Buy: 0Buy: 2Hold: 1Sell: 0Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$65.00
Analysts1
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-07-15 Wells Fargo — Initiated $65 — +56.9% $41.44
2025-05-16 Susquehanna Mehdi Hosseini Initiated $80 — +66.9% $47.92
2023-08-29 Citigroup Eric Lau Initiated $110 — +247.1% $31.69

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+
Oct 27, 2026
DCF
3
ROE
1
ROA
2
D/E
2
P/E
1
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. HNI receives an overall rating of C+. Areas of concern: ROE (1/5), ROA (2/5), D/E (2/5), P/E (1/5).
Rating Change History
DateFromTo
2026-10-12 B- C+
2026-10-01 C+ B-
2026-08-04 B- C+
2026-08-03 C B-
2026-07-30 B- C
2026-07-25 C+ B-
2026-07-23 B- C+
2026-07-22 C+ B-
2026-07-08 B- C+
2026-07-02 C+ B-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 38 Grade B
Profitability
21
Balance Sheet
39
Earnings Quality
84
Growth
40
Value
44
Momentum
70
Safety
50
Cash Flow
25
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. HNI scores highest in Earnings Quality (84/100) and lowest in Profitability (21/100). 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
1.85
Grey Zone
Piotroski F-Score
5/9
✓ ✓ ✗ ✓ ✗ ✓ ✗ ✓ ✗
Beneish M-Score
-1.06
Possible Manipulator
Ohlson O-Score
-6.22
Bankruptcy prob: 0.2%
Low Risk
Credit Rating
BB-
Score: 36.5/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 6.70x
Accruals: -0.7%
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. HNI scores 1.85, 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. HNI scores 5/9, 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. HNI's score of -1.06 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. HNI's implied 0.2% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. HNI receives an estimated rating of BB- (score: 36.5/100), 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). HNI'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
433.00x
PEG
-4.49x
P/S
0.78x
P/B
1.90x
P/FCF
-28.77x
P/OCF
102.99x
EV/EBITDA
12.16x
EV/Revenue
1.03x
EV/EBIT
33.52x
EV/FCF
-43.98x
Earnings Yield
0.14%
FCF Yield
-3.48%
Shareholder Yield
3.83%
Graham Number
$5.80
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 433.0x earnings, HNI is priced for high growth expectations. Graham's intrinsic value formula yields $5.80 per share, 722% 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
0.169
NI / EBT
×
Interest Burden
0.188
EBT / EBIT
×
EBIT Margin
0.031
EBIT / Rev
×
Asset Turnover
1.313
Rev / Assets
×
Equity Multiplier
2.530
Assets / Equity
=
ROE
0.3%
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. HNI's ROE of 0.3% is driven by Asset Turnover (1.313), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.17 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.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate
0.00%
Fair P/E
8.50x
Intrinsic Value
$0.51
Price/Value
81.15x
Margin of Safety
-8015.44%
Premium
8015.44%
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 HNI's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. HNI trades at a 8015% premium to its adjusted intrinsic value of $0.51, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 433.0x.

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
$47.62
Median 1Y
$48.55
5th Pctile
$26.02
95th Pctile
$91.02
Ann. Volatility
38.3%
25th–75th percentile 5th–95th percentile Median path Historical

Executive Compensation

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

C-Suite Compensation

ExecutiveSalaryStockTotal
Jeffrey D. Lorenger
Chairman, President and Chief Executive Officer, HNI Corporation
$1,056,740 $5,092,316 $8,218,947
Vincent P. Berger
II Chief Financial Officer; Executive Vice President, HNI Corporation
$578,870 $862,545 $2,282,999
B. Brandon Bullock
III Chief Operating Officer, HNI Corporation
$503,871 $592,465 $1,650,048
Steven M. Bradford
Senior Vice President, General Counsel and Secretary, HNI Corporation
$512,881 $386,129 $1,570,774
Jason D. Hagedorn
President, Workplace Furnishings
$470,315 $552,986 $1,438,065

CEO Pay Ratio

Insufficient data for pay ratio.

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
19,500
+153.2% YoY
Revenue / Employee
—
Profit / Employee
—
SGA / Employee
—
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 Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
ROE 23.7% 23.8% 24.2% 17.6% 18.3% 22.2% 16.6% 18.0% 16.5% 18.4% 21.9% 19.9% 16.1% 12.8% 12.6% 16.1% 19.3% 4.1% -0.7% 0.3% 0.33%
ROA 8.4% 8.5% 8.5% 6.3% 6.6% 8.2% 6.3% 6.8% 6.2% 7.1% 8.8% 7.7% 6.7% 4.9% 5.1% 6.8% 8.6% 1.5% -0.3% 0.1% 0.13%
ROIC 17.3% 15.2% 15.7% 17.5% 15.2% 26.4% 25.6% 19.2% 25.8% 15.3% 19.8% 16.9% 12.9% 8.6% 11.5% 13.7% 16.0% 5.1% -11.8% 1.2% 1.16%
ROCE 19.8% 19.7% 20.0% 15.0% 14.4% 12.2% 7.4% 8.0% 7.4% 15.0% 17.7% 15.9% 12.7% 8.1% 8.3% 11.8% 14.4% 3.2% 2.0% 3.6% 3.58%
Gross Margin 37.7% 37.1% 38.9% 38.6% 36.9% 35.0% 33.9% 35.9% 36.4% 37.0% 36.0% 30.9% 35.2% 40.1% 40.2% 39.8% 42.1% 39.9% 34.6% 44.0% 43.96%
Operating Margin 8.0% 3.9% 8.6% 10.7% 8.6% 4.8% 1.0% 5.1% 9.6% 10.5% 6.7% 3.0% 5.1% 9.1% 9.7% 9.3% 9.6% 7.2% -0.9% 7.8% 7.76%
Net Margin 5.4% 2.4% 5.4% 1.9% 6.2% 5.8% 0.5% 3.4% 5.4% 7.7% 4.0% 1.4% 2.9% 5.3% 3.3% 6.0% 6.0% -5.5% -2.9% 3.5% 3.47%
EBITDA Margin 10.6% 7.0% 11.6% 6.2% 12.6% 1.3% 4.4% 8.5% 11.6% 13.6% 9.1% 5.4% 7.7% 11.6% 8.4% 12.8% 18.9% 0.1% 4.7% 12.3% 12.25%
FCF Margin 2.5% 3.9% 5.2% 6.2% 4.7% 8.9% 6.1% 4.7% 5.0% 6.5% 11.0% 9.9% 8.9% 8.9% 9.5% 9.9% 13.4% 11.3% 0.9% -2.3% -2.35%
OCF Margin 7.5% 8.9% 10.5% 11.6% 10.2% 14.0% 10.5% 8.5% 7.9% 9.0% 13.2% 12.2% 11.3% 11.6% 12.4% 12.5% 16.0% 13.4% 3.1% 0.7% 0.66%
ROE 3Y Avg snapshot only 10.91%
ROE 5Y Avg snapshot only 13.41%
ROA 3Y Avg snapshot only 4.54%
ROIC 3Y Avg snapshot only 1.76%
ROIC Economic snapshot only 1.15%
Cash ROA snapshot only 0.60%
Cash ROIC snapshot only 0.85%
CROIC snapshot only -3.06%
NOPAT Margin snapshot only 0.89%
Pretax Margin snapshot only 0.58%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 34.71%
SBC / Revenue snapshot only 0.63%
Valuation
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
P/E Ratio 10.90 11.64 13.38 21.96 15.30 11.42 14.14 13.51 13.80 12.69 10.16 14.14 11.12 17.60 21.58 20.05 14.98 36.88 -268.63 689.81 433.000
P/S Ratio 0.50 0.56 0.68 0.83 0.61 0.55 0.53 0.56 0.54 0.57 0.53 0.66 0.45 0.61 0.72 0.89 0.77 0.68 0.64 0.68 0.783
P/B Ratio 2.41 2.59 3.02 3.68 2.75 2.47 2.32 2.37 2.14 2.20 2.08 2.66 1.71 2.02 2.41 2.75 2.51 1.06 1.29 1.64 1.902
P/FCF 19.69 14.35 13.13 13.51 13.07 6.17 8.61 11.79 10.75 8.70 4.84 6.63 5.03 6.83 7.52 8.94 5.75 5.96 68.77 -28.77 -28.770
P/OCF 6.63 6.26 6.43 7.19 6.02 3.94 4.99 6.56 6.82 6.27 4.01 5.41 3.97 5.26 5.77 7.08 4.83 5.03 20.37 102.99 102.993
EV/EBITDA 5.90 6.71 7.49 10.28 7.89 8.35 10.52 9.92 9.44 6.71 5.46 7.54 6.32 10.09 11.01 10.46 7.21 12.52 14.31 12.16 12.158
EV/Revenue 0.57 0.67 0.79 0.91 0.74 0.66 0.66 0.68 0.62 0.66 0.59 0.75 0.57 0.87 0.93 1.07 0.93 1.16 1.10 1.03 1.032
EV/EBIT 7.97 9.06 10.13 15.53 11.79 13.84 22.08 19.24 19.29 10.19 7.89 11.34 10.27 17.26 19.49 16.82 12.24 28.37 51.95 33.52 33.517
EV/FCF 22.39 17.26 15.24 14.79 15.84 7.39 10.76 14.28 12.28 10.09 5.38 7.57 6.37 9.68 9.75 10.76 6.93 10.28 118.46 -43.98 -43.984
Earnings Yield 9.2% 8.6% 7.5% 4.6% 6.5% 8.8% 7.1% 7.4% 7.2% 7.9% 9.8% 7.1% 9.0% 5.7% 4.6% 5.0% 6.7% 2.7% -0.4% 0.1% 0.14%
FCF Yield 5.1% 7.0% 7.6% 7.4% 7.7% 16.2% 11.6% 8.5% 9.3% 11.5% 20.7% 15.1% 19.9% 14.6% 13.3% 11.2% 17.4% 16.8% 1.5% -3.5% -3.48%
Price/Tangible Book snapshot only 237.296
EV/OCF snapshot only 157.458
EV/Gross Profit snapshot only 2.583
Acquirers Multiple snapshot only 19.623
Shareholder Yield snapshot only 3.83%
Graham Number snapshot only $5.80
Leverage & Solvency
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Current Ratio 1.01 0.97 0.99 0.93 1.08 1.00 1.08 1.23 1.22 1.10 1.13 1.03 1.19 1.14 1.16 1.10 1.33 1.24 1.39 1.36 1.362
Quick Ratio 0.72 0.64 0.63 0.68 0.74 0.68 0.70 0.78 0.86 0.76 0.82 0.68 0.73 0.68 0.73 0.69 0.85 0.82 0.86 0.88 0.880
Debt/Equity 0.40 0.62 0.55 0.43 0.63 0.54 0.64 0.57 0.44 0.44 0.43 0.47 0.49 0.88 0.76 0.59 0.55 0.89 0.97 0.93 0.929
Net Debt/Equity 0.33 0.53 0.48 0.35 0.58 0.49 0.58 0.50 0.31 0.35 0.23 0.37 0.46 0.84 0.71 0.56 0.52 0.77 0.93 0.87 0.869
Debt/Assets 0.15 0.23 0.20 0.16 0.22 0.20 0.24 0.21 0.18 0.18 0.18 0.18 0.21 0.32 0.30 0.26 0.25 0.33 0.36 0.35 0.348
Debt/EBITDA 0.86 1.32 1.17 1.09 1.49 1.52 2.32 1.95 1.71 1.16 1.02 1.16 1.42 3.12 2.68 1.87 1.31 6.06 6.28 4.50 4.495
Net Debt/EBITDA 0.71 1.13 1.04 0.89 1.38 1.38 2.10 1.73 1.18 0.92 0.55 0.93 1.33 2.97 2.52 1.76 1.23 5.26 6.00 4.21 4.205
Interest Coverage 23.78 24.78 29.37 24.99 24.02 17.51 9.04 8.52 7.33 15.76 20.06 20.71 17.23 8.12 5.71 6.65 6.96 3.23 1.52 1.98 1.978
Equity Multiplier 2.65 2.69 2.68 2.66 2.88 2.71 2.62 2.65 2.49 2.49 2.40 2.54 2.29 2.72 2.53 2.23 2.20 2.66 2.69 2.67 2.669
Cash Ratio snapshot only 0.104
Debt Service Coverage snapshot only 5.453
Cash to Debt snapshot only 0.065
FCF to Debt snapshot only -0.061
Defensive Interval snapshot only 176.6 days
Efficiency & Turnover
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Asset Turnover 1.84 1.78 1.68 1.67 1.65 1.70 1.68 1.64 1.58 1.59 1.68 1.65 1.67 1.41 1.53 1.54 1.67 0.84 1.06 1.31 1.313
Inventory Turnover 11.80 9.82 8.36 10.40 9.87 9.50 8.82 9.49 9.27 9.09 9.96 8.42 9.09 8.01 9.68 8.45 8.63 4.90 6.40 7.61 7.607
Receivables Turnover 9.53 10.12 8.70 8.70 8.71 9.66 9.74 9.52 8.55 8.48 10.87 9.98 9.92 9.16 11.47 10.69 11.47 6.98 8.91 9.99 9.993
Payables Turnover 6.91 — — 13.59 4.46 12.25 9.54 5.15 4.50 6.27 5.97 5.22 7.93 4.63 8.42 7.49 6.02 2.35 4.33 4.77 4.770
DSO 38 36 42 42 42 38 37 38 43 43 34 37 37 40 32 34 32 52 41 37 36.5 days
DIO 31 37 44 35 37 38 41 38 39 40 37 43 40 46 38 43 42 75 57 48 48.0 days
DPO 53 0 0 27 82 30 38 71 81 58 61 70 46 79 43 49 61 155 84 77 76.5 days
Cash Conversion Cycle 16 73 86 50 -3 46 41 6 1 25 9 10 31 7 26 29 13 -28 14 8 8.0 days
Fixed Asset Turnover snapshot only 3.425
Operating Cycle snapshot only 84.5 days
Cash Velocity snapshot only 40.592
Capital Intensity snapshot only 1.097
Growth (YoY)
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 3.7% -0.5% -4.4% -5.9% -3.7% 0.9% 0.9% 0.8% 0.6% -1.7% 2.2% 6.6% 5.3% 8.1% 10.5% 9.4% 15.6% 18.4% 39.0% 68.7% 68.75%
Net Income 71.5% 84.9% 56.0% 4.6% -15.6% 2.0% -25.8% 9.8% -1.9% -9.0% 43.3% 20.1% 8.4% -16.0% -29.8% 3.9% 47.9% -37.6% -1.1% -96.3% -96.26%
EPS 71.5% 86.9% 56.0% 4.2% -14.2% 4.1% -23.3% 13.0% -1.6% -6.8% 46.4% 21.7% 14.7% -23.4% -36.4% -6.4% 31.5% -37.3% -1.1% -97.5% -97.49%
FCF 6.0% 1.4% 2.7% 2.5% 78.5% 1.3% 19.5% -22.6% 7.6% -28.3% 83.1% 1.2% 86.7% 48.3% -4.0% 9.3% 74.4% 49.9% -86.4% -1.4% -1.40%
EBITDA 30.4% 34.5% 24.0% -1.0% -5.6% -19.8% -39.9% -22.6% -30.2% 21.8% 76.5% 55.8% 44.7% -5.3% -13.8% 12.0% 66.3% 28.3% 27.3% 40.5% 40.49%
Op. Income 45.0% 52.7% 31.7% 24.7% 9.7% 12.2% -15.5% -35.7% -34.0% -17.7% 27.4% 57.6% 26.2% -3.6% -5.4% 23.0% 70.9% 70.4% -0.6% 5.5% 5.53%
OCF Growth snapshot only -91.17%
Asset Growth snapshot only 1.57%
Equity Growth snapshot only 1.15%
Debt Growth snapshot only 2.38%
Shares Change snapshot only 48.66%
Dividend Growth snapshot only 25.51%
Growth (CAGR)
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue 3Y 4.8% 4.5% 3.5% 2.7% 2.5% 3.6% 3.2% 1.8% 0.1% -0.5% -0.5% 0.4% 0.7% 2.3% 4.4% 5.5% 7.0% 7.9% 16.2% 25.3% 25.30%
Revenue 5Y 6.4% 5.8% 5.1% 4.3% 3.9% 4.1% 3.3% 2.5% 2.2% 2.5% 2.7% 3.1% 2.7% 3.4% 4.4% 4.2% 4.1% 4.8% 8.6% 13.3% 13.28%
EPS 3Y 29.6% 29.8% 28.0% 13.2% 13.0% 16.2% 7.0% 7.2% 13.2% 21.9% 20.5% 12.7% -1.1% -9.4% -10.6% 8.8% 14.1% -23.5% — -69.4% -69.40%
EPS 5Y 31.7% 28.3% 29.7% 15.8% 14.7% 19.0% 12.0% 14.0% 13.0% 16.2% 18.7% 14.8% 10.3% 2.3% 2.7% 7.0% 16.9% -2.7% — -49.2% -49.23%
Net Income 3Y 29.1% 29.1% 27.6% 12.8% 11.8% 14.8% 5.7% 6.1% 12.4% 19.8% 18.4% 11.3% -3.5% -7.9% -9.3% 11.1% 16.3% -21.8% — -64.0% -64.01%
Net Income 5Y 31.4% 28.4% 29.6% 15.8% 14.1% 18.5% 11.1% 13.2% 12.3% 14.9% 17.1% 13.6% 8.3% 3.0% 3.5% 8.3% 17.9% -2.1% — -44.3% -44.31%
EBITDA 3Y 18.9% 19.5% 18.8% 10.6% 10.9% 2.4% -5.7% -5.4% -5.0% 9.5% 9.6% 6.1% -1.6% -2.6% -2.9% 10.6% 18.8% 13.9% 24.7% 34.8% 34.84%
EBITDA 5Y 12.4% 12.5% 14.3% 9.0% 10.1% 7.0% 1.5% 2.8% 2.1% 10.8% 12.2% 10.3% 6.6% 4.4% 5.0% 8.1% 15.6% 9.8% 7.6% 13.5% 13.46%
Gross Profit 3Y 7.1% 7.1% 6.8% 6.0% 5.5% 5.9% 4.0% 1.8% 0.2% -0.1% 0.2% -0.6% -1.2% 1.0% 3.5% 6.3% 9.5% 10.9% 18.4% 30.4% 30.42%
Gross Profit 5Y 7.7% 7.1% 7.0% 6.2% 5.6% 5.7% 4.2% 3.0% 2.7% 3.3% 3.8% 3.3% 2.7% 3.9% 5.3% 6.2% 7.0% 7.6% 10.2% 15.6% 15.61%
Op. Income 3Y 23.2% 23.8% 22.3% 21.2% 19.2% 15.8% 7.7% -3.5% 1.6% 12.2% 12.3% 8.1% -3.0% -3.8% 0.6% 7.6% 12.5% 10.6% 6.2% 27.0% 26.95%
Op. Income 5Y 23.1% 21.1% 22.7% 19.5% 17.0% 17.8% 11.3% 5.3% 6.2% 11.9% 14.5% 12.5% 7.1% 4.3% 8.5% 11.7% 17.8% 18.3% 5.9% 10.4% 10.43%
FCF 3Y -11.6% 3.8% 30.7% 21.2% 6.6% 41.0% 20.2% 27.7% 26.7% 59.6% 1.0% 82.5% 53.0% 35.3% 28.1% 23.6% 51.9% 16.8% -37.9% — —
FCF 5Y -2.9% 4.9% 15.9% 10.2% 0.2% 17.7% 5.4% 2.7% 5.8% 13.3% 37.3% 25.2% 19.4% 24.4% 25.0% 38.4% 46.0% 55.3% 1.1% — —
OCF 3Y 6.2% 12.4% 23.3% 19.1% 11.1% 26.5% 12.0% 7.7% 1.7% 9.8% 29.0% 24.1% 15.2% 11.9% 10.3% 8.4% 24.3% 6.5% -22.3% -46.7% -46.67%
OCF 5Y 12.9% 15.7% 22.9% 18.0% 11.0% 20.2% 10.0% 5.1% 4.1% 7.5% 19.4% 13.8% 10.0% 12.3% 13.3% 16.5% 20.9% 20.3% -4.7% -28.2% -28.24%
Assets 3Y 5.4% 6.9% 5.8% 5.7% 7.9% 7.7% 5.1% 5.0% 4.2% 5.2% 2.3% 4.2% 3.8% 15.4% 12.5% 12.1% 8.9% 52.0% 52.5% 51.4% 51.39%
Assets 5Y 4.8% 6.5% 6.2% 4.7% 6.2% 6.1% 4.6% 4.3% 5.4% 6.2% 4.4% 5.8% 4.5% 12.6% 10.7% 9.4% 8.3% 31.4% 29.2% 29.5% 29.51%
Equity 3Y 4.3% 5.0% 6.5% 5.1% 4.3% 5.1% 5.6% 6.1% 10.7% 11.0% 10.7% 9.0% 8.9% 14.9% 14.6% 18.8% 19.0% 52.8% 51.1% 51.0% 50.95%
Book Value 3Y 4.7% 5.5% 6.9% 5.4% 5.5% 6.4% 6.9% 7.1% 11.5% 13.0% 12.8% 10.4% 11.7% 13.1% 12.9% 16.4% 16.8% 49.6% 28.6% 28.3% 28.32%
Dividend 3Y 1.8% 2.2% 2.0% 1.9% 2.8% 2.9% 2.7% 2.5% 1.9% 3.1% 3.5% 2.8% 4.1% 0.5% 1.4% 1.9% 3.1% 2.0% -7.2% 4.7% 4.65%
Growth Quality
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Revenue Stability 0.98 0.95 0.87 0.83 0.83 0.87 0.70 0.56 0.55 0.59 0.53 0.53 0.64 0.82 0.88 0.83 0.57 0.54 0.51 0.49 0.493
Earnings Stability 0.84 0.78 0.90 0.95 0.76 0.80 0.66 0.93 0.61 0.70 0.72 0.92 0.44 0.23 0.21 0.92 0.55 0.05 0.28 0.13 0.127
Margin Stability 0.97 0.97 0.96 0.96 0.96 0.96 0.97 0.96 0.96 0.97 0.97 0.96 0.96 0.97 0.97 0.95 0.93 0.94 0.97 0.94 0.941
Rev. Growth Consistency 1.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.00 1.00 1.00 1.00 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.000
Earn. Growth Consistency 0.50 0.50 1.00 1.00 0.00 1.00 0.00 1.00 0.00 0.00 0.50 1.00 0.50 0.00 0.00 1.00 1.00 0.00 0.00 0.00 0.000
FCF Positive Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0
Earnings Persistence 0.50 0.50 0.50 0.98 0.94 0.99 0.90 0.96 0.99 0.96 0.83 0.92 0.97 0.94 0.88 0.98 0.81 0.85 0.20 0.50 0.500
Earnings Smoothness 0.47 0.40 0.56 0.95 0.83 0.98 0.70 0.91 0.98 0.91 0.64 0.82 0.92 0.83 0.65 0.96 0.61 0.54 — 0.00 0.000
ROE Trend 0.07 0.07 0.06 -0.01 -0.00 0.04 -0.03 0.00 -0.05 -0.05 0.01 0.02 -0.01 -0.08 -0.07 -0.04 0.01 -0.11 -0.16 -0.16 -0.160
Gross Margin Trend 0.02 0.02 0.02 0.02 0.02 0.01 -0.01 -0.02 -0.02 -0.01 -0.01 -0.02 -0.02 -0.01 0.01 0.04 0.05 0.05 0.02 0.03 0.030
FCF Margin Trend -0.01 0.01 0.03 0.04 0.02 0.06 0.03 0.01 0.01 0.00 0.05 0.04 0.04 0.01 0.01 0.03 0.06 0.04 -0.09 -0.12 -0.123
Sustainable Growth Rate 13.3% 13.5% 14.2% 7.5% 8.3% 12.3% 6.9% 8.2% 6.9% 9.1% 12.5% 10.5% 7.1% 4.6% 4.2% 7.9% 10.9% -0.7% — -8.0% -7.98%
Internal Growth Rate 5.0% 5.1% 5.2% 2.8% 3.1% 4.8% 2.7% 3.2% 2.7% 3.6% 5.3% 4.2% 3.1% 1.8% 1.7% 3.4% 5.1% — — — —
Cash Flow Quality
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
OCF/Net Income 1.64 1.86 2.08 3.05 2.54 2.90 2.83 2.06 2.02 2.02 2.53 2.61 2.80 3.35 3.74 2.83 3.10 7.34 -13.19 6.70 6.698
FCF/OCF 0.34 0.44 0.49 0.53 0.46 0.64 0.58 0.56 0.63 0.72 0.83 0.82 0.79 0.77 0.77 0.79 0.84 0.84 0.30 -3.58 -3.580
FCF/Net Income snapshot only -23.977
OCF/EBITDA snapshot only 0.077
CapEx/Revenue 5.0% 5.0% 5.4% 5.4% 5.5% 5.1% 4.4% 3.8% 2.9% 2.5% 2.3% 2.2% 2.4% 2.7% 2.9% 2.6% 2.5% 2.1% 2.2% 3.0% 3.00%
CapEx/Depreciation snapshot only 0.555
Accruals Ratio -0.05 -0.07 -0.09 -0.13 -0.10 -0.16 -0.11 -0.07 -0.06 -0.07 -0.13 -0.12 -0.12 -0.11 -0.14 -0.13 -0.18 -0.10 -0.04 -0.01 -0.007
Sloan Accruals snapshot only 0.027
Cash Flow Adequacy snapshot only 0.119
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Dividend Yield 4.0% 3.7% 3.1% 2.6% 3.6% 3.9% 4.1% 4.0% 4.2% 4.0% 4.2% 3.3% 5.0% 3.7% 3.1% 2.6% 2.9% 3.2% 3.2% 3.7% 2.90%
Dividend/Share $1.02 $1.04 $1.04 $1.05 $1.09 $1.12 $1.12 $1.13 $1.14 $1.19 $1.20 $1.20 $1.26 $1.16 $1.19 $1.21 $1.30 $1.31 $1.03 $1.52 $1.38
Payout Ratio 43.9% 43.2% 41.6% 57.0% 54.7% 44.4% 58.5% 54.3% 57.9% 50.7% 42.8% 47.3% 55.8% 64.4% 66.6% 51.2% 43.7% 1.2% — 25.6% 25.56%
FCF Payout Ratio 79.3% 53.2% 40.8% 35.1% 46.7% 24.0% 35.6% 47.4% 45.1% 34.7% 20.4% 22.2% 25.2% 25.0% 23.2% 22.8% 16.8% 18.9% 2.2% — —
Total Payout Ratio 69.2% 64.4% 59.3% 100.0% 1.3% 1.1% 1.4% 1.0% 90.2% 92.5% 71.7% 1.1% 1.2% 1.1% 1.1% 87.1% 75.9% 2.0% — 26.4% 26.44%
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 0.09 0.09 0.08 0.07 0.09 0.09 0.08 0.09 0.08 0.08 0.09 0.08 0.10 0.10 0.12 0.15 0.19 0.16 0.33 0.90 0.903
Buyback Yield 2.3% 1.8% 1.3% 2.0% 4.7% 5.3% 5.7% 3.5% 2.3% 3.3% 2.8% 4.7% 5.7% 2.7% 2.2% 1.8% 2.1% 2.3% 2.0% 0.1% 0.13%
Net Buyback Yield 1.3% 1.5% 0.9% 1.6% 4.0% 4.4% 4.9% 2.4% 1.1% 1.7% 0.9% 3.5% 4.1% 2.2% 2.1% 1.5% 1.7% 1.9% 1.6% -0.0% -0.01%
Total Shareholder Return 5.3% 5.2% 4.0% 4.2% 7.6% 8.3% 9.0% 6.4% 5.3% 5.7% 5.1% 6.9% 9.2% 5.8% 5.2% 4.0% 4.7% 5.0% 4.8% 3.7% 3.69%
DuPont Factors
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Tax Burden (NI/EBT) 0.67 0.67 0.68 0.67 0.66 1.07 1.41 1.34 1.60 0.78 0.77 0.77 0.77 0.79 0.84 0.82 0.79 0.65 -2.30 0.17 0.169
Interest Burden (EBT/EBIT) 0.96 0.96 0.97 0.96 0.96 0.94 0.89 0.88 0.77 0.89 0.91 0.91 0.94 0.88 0.83 0.85 0.86 0.69 0.05 0.19 0.188
EBIT Margin 0.07 0.07 0.08 0.06 0.06 0.05 0.03 0.04 0.03 0.06 0.07 0.07 0.06 0.05 0.05 0.06 0.08 0.04 0.02 0.03 0.031
Asset Turnover 1.84 1.78 1.68 1.67 1.65 1.70 1.68 1.64 1.58 1.59 1.68 1.65 1.67 1.41 1.53 1.54 1.67 0.84 1.06 1.31 1.313
Equity Multiplier 2.81 2.80 2.85 2.77 2.77 2.70 2.65 2.65 2.67 2.59 2.50 2.59 2.39 2.62 2.48 2.36 2.24 2.68 2.64 2.53 2.530
Per Share
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
EPS (Diluted TTM) $2.33 $2.42 $2.50 $1.84 $2.00 $2.51 $1.91 $2.08 $1.97 $2.34 $2.80 $2.53 $2.26 $1.79 $1.78 $2.37 $2.97 $1.13 $-0.12 $0.06 $0.06
Book Value/Share $10.55 $10.84 $11.08 $10.98 $11.14 $11.64 $11.65 $11.85 $12.70 $13.54 $13.66 $13.49 $14.71 $15.66 $15.96 $17.32 $17.75 $38.97 $24.77 $25.04 $25.04
Tangible Book/Share $1.02 $-0.40 $-0.10 $0.60 $-0.42 $0.52 $0.62 $0.97 $2.25 $3.21 $3.04 $2.71 $4.22 $1.00 $2.30 $4.45 $4.93 $2.82 $-0.66 $0.17 $0.17
Revenue/Share $50.98 $50.67 $49.31 $48.60 $49.87 $52.13 $51.44 $50.40 $50.35 $52.46 $53.68 $54.45 $56.09 $51.70 $53.74 $53.67 $57.70 $61.45 $49.75 $60.92 $60.92
FCF/Share $1.29 $1.96 $2.55 $3.00 $2.34 $4.66 $3.15 $2.39 $2.53 $3.42 $5.88 $5.40 $5.00 $4.62 $5.12 $5.32 $7.75 $6.96 $0.46 $-1.43 $-1.43
OCF/Share $3.84 $4.49 $5.20 $5.62 $5.08 $7.30 $5.42 $4.29 $3.99 $4.74 $7.09 $6.62 $6.33 $6.00 $6.67 $6.73 $9.22 $8.26 $1.57 $0.40 $0.40
Cash/Share $0.73 $0.97 $0.68 $0.85 $0.54 $0.57 $0.69 $0.75 $1.76 $1.23 $2.73 $1.23 $0.46 $0.64 $0.72 $0.60 $0.60 $4.58 $1.09 $1.50 $1.50
EBITDA/Share $4.90 $5.04 $5.17 $4.31 $4.70 $4.12 $3.22 $3.44 $3.29 $5.14 $5.79 $5.42 $5.04 $4.44 $4.53 $5.47 $7.45 $5.72 $3.84 $5.17 $5.17
Debt/Share $4.21 $6.67 $6.05 $4.69 $7.02 $6.27 $7.45 $6.70 $5.64 $5.98 $5.89 $6.28 $7.18 $13.83 $12.12 $10.24 $9.75 $34.65 $24.13 $23.26 $23.26
Net Debt/Share $3.49 $5.70 $5.37 $3.85 $6.48 $5.69 $6.76 $5.95 $3.88 $4.74 $3.17 $5.06 $6.71 $13.19 $11.39 $9.65 $9.16 $30.07 $23.04 $21.76 $21.76
Per Employee
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Employee Count snapshot only 19,500
Revenue/Employee snapshot only $225235.90
Income/Employee snapshot only $220.51
EBITDA/Employee snapshot only $19128.21
FCF/Employee snapshot only $-5287.18
Assets/Employee snapshot only $247056.41
Market Cap/Employee snapshot only $152112.51
Academic Models
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — 1.849
Altman Z-Prime snapshot only 2.106
Piotroski F-Score 9 6 7 7 5 6 6 6 7 7 8 7 6 5 5 5 7 5 3 5 5
Beneish M-Score -2.73 -2.87 -3.02 -3.23 -2.80 -2.99 -3.04 -2.77 -2.84 -2.80 -3.20 -2.94 -3.18 -2.89 -2.79 -3.00 -3.08 -1.64 -1.25 -1.06 -1.059
Ohlson O-Score snapshot only -6.216
ROIC (Greenblatt) snapshot only 8.16%
Net-Net WC snapshot only $-22.22
EVA snapshot only $-298256771.65
Credit
Metric Trend Q4'15 Q1'16 Q2'16 Q4'16 Q3'17 Q4'17 Q1'18 Q2'18 Q4'18 Q4'19 Q4'20 Q4'21 Q4'22 Q3'23 Q4'23 Q4'24 Q3'25 Q4'25 Q1'26 Q2'26 Current
Credit Rating snapshot only BB-
Credit Score 85.21 75.31 82.73 87.29 78.61 80.92 71.54 74.25 75.23 83.67 84.89 85.50 85.95 67.44 66.07 77.89 82.25 41.88 31.93 36.51 36.513
Credit Grade snapshot only 13
Credit Trend snapshot only -41.380
Implied Spread (bps) snapshot only 550.000
Industry Credit Rank snapshot only 16
Sector Credit Rank snapshot only 25

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