Also trades as: HMDPF (OTC) · $vol 2M

C$296.97 ($208.32)

+8.24 (+2.85%)

Weekly Expected Move ±6.9%

C$254 C$274 C$294 C$314 C$334

TSX · Industrials · Electrical Equipment & Parts · Tech Score Strong Buy · Power 68 · C$3.5B mcap · 11M float · 0.599% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

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

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. HPS-A.TO receives an overall rating of B. Strongest factors: ROE (4/5), ROA (5/5). Areas of concern: D/E (2/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-10-01	B+	B
2026-09-02	B	B+
2026-07-25	B+	B
2026-05-06	A-	B+
2026-05-04	B+	A-
2026-03-23	A-	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 C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

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. HPS-A.TO scores highest in Safety (100/100) and lowest in Cash Flow (19/100). 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 Z-Score

11.53

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✗ ✗ ✗ ✓ ✓ ✓

Beneish M-Score

-1.85

Unlikely Manipulator

Ohlson O-Score

-7.72

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA-

Score: 83.0/100

Trend: Deteriorating

Earnings Quality

25/100

OCF/NI: 0.49x

Accruals: 5.2%

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. HPS-A.TO scores 11.53, 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. HPS-A.TO 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. HPS-A.TO's score of -1.85 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. HPS-A.TO'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. HPS-A.TO receives an estimated rating of AA- (score: 83.0/100), 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). HPS-A.TO's score of 25/100 is low — reported earnings may not be fully supported by cash flows.

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

57.44x

PEG

-2.54x

P/S

3.33x

P/B

9.17x

P/FCF

-5938.95x

P/OCF

137.41x

EV/EBITDA

34.53x

EV/Revenue

3.95x

EV/EBIT

42.95x

EV/FCF

-6026.76x

Earnings Yield

1.49%

FCF Yield

-0.02%

Shareholder Yield

0.32%

Graham Number

$61.41

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 57.4x earnings, HPS-A.TO is priced for high growth expectations. Graham's intrinsic value formula yields $61.41 per share, 384% 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

0.729

NI / EBT

Interest Burden

0.865

EBT / EBIT

EBIT Margin

0.092

EBIT / Rev

Asset Turnover

1.761

Rev / Assets

Equity Multiplier

1.694

Assets / Equity

ROE

17.3%

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. HPS-A.TO's ROE of 17.3% is driven by Asset Turnover (1.761), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

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

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

Adj. Growth Rate

1.56%

Fair P/E

11.61x

Intrinsic Value

$60.08

Price/Value

5.78x

Margin of Safety

-477.95%

Premium

477.95%

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 HPS-A.TO's realized 1.6% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. HPS-A.TO trades at a 478% premium to its adjusted intrinsic value of $60.08, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 11.6x compares to the current market P/E of 57.4x.

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

$294.01

Median 1Y

$443.31

5th Pctile

$192.38

95th Pctile

$1012.92

Ann. Volatility

49.8%

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

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	12.5%	12.7%	17.3%	17.9%	21.5%	29.6%	32.0%	34.2%	32.4%	31.1%	25.9%	28.4%	27.7%	26.6%	31.7%	27.0%	26.2%	21.9%	18.7%	17.3%	17.30%
ROA	7.0%	7.2%	9.6%	9.4%	11.5%	16.7%	17.9%	18.9%	17.9%	17.8%	14.8%	17.1%	16.4%	15.9%	19.2%	16.6%	15.6%	13.2%	11.5%	10.2%	10.21%
ROIC	11.2%	12.4%	16.0%	17.5%	21.4%	27.9%	27.5%	29.8%	40.3%	40.5%	34.6%	36.7%	27.5%	23.5%	26.8%	22.6%	20.9%	19.8%	17.2%	16.2%	16.18%
ROCE	18.0%	16.9%	22.7%	23.1%	26.4%	32.1%	34.6%	37.5%	36.5%	35.7%	29.7%	33.0%	32.6%	30.5%	36.3%	31.8%	30.4%	26.6%	24.0%	24.2%	24.17%
Gross Margin	26.8%	27.4%	28.5%	25.7%	29.2%	34.4%	31.8%	30.9%	31.7%	35.5%	31.7%	32.8%	33.8%	32.7%	31.5%	30.7%	30.1%	29.2%	30.1%	31.5%	31.48%
Operating Margin	6.2%	5.3%	9.9%	7.3%	10.8%	14.1%	13.2%	11.0%	11.4%	13.2%	5.4%	17.8%	12.3%	14.2%	18.6%	8.8%	11.4%	8.6%	11.0%	7.1%	7.08%
Net Margin	4.1%	3.6%	6.7%	4.7%	7.7%	12.6%	9.2%	7.7%	8.0%	10.6%	4.2%	12.0%	8.5%	11.4%	13.0%	6.0%	8.0%	6.0%	7.4%	2.9%	2.89%
EBITDA Margin	7.7%	7.5%	11.3%	9.4%	12.8%	16.7%	14.4%	12.4%	12.8%	15.2%	7.5%	19.6%	14.2%	16.2%	20.2%	10.6%	13.2%	11.6%	12.8%	9.0%	9.02%
FCF Margin	0.5%	3.8%	5.1%	7.4%	8.1%	5.0%	2.7%	1.8%	1.6%	3.3%	4.8%	4.7%	3.5%	3.1%	1.8%	-0.7%	-2.4%	-1.3%	0.2%	-0.1%	-0.07%
OCF Margin	2.5%	5.4%	6.5%	8.9%	9.7%	6.6%	4.3%	3.7%	4.4%	6.2%	8.3%	8.9%	8.1%	8.2%	6.9%	4.5%	1.9%	2.6%	4.0%	2.8%	2.83%
ROE 3Y Avg	snapshot only																				21.80%
ROE 5Y Avg	snapshot only																				22.20%
ROA 3Y Avg	snapshot only																				13.15%
ROIC 3Y Avg	snapshot only																				16.86%
ROIC Economic	snapshot only																				15.75%
Cash ROA	snapshot only																				4.42%
Cash ROIC	snapshot only																				6.73%
CROIC	snapshot only																				-0.16%
NOPAT Margin	snapshot only																				6.81%
Pretax Margin	snapshot only																				7.95%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				20.99%
SBC / Revenue	snapshot only																				1.39%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	7.89	8.86	6.66	7.57	6.00	5.19	8.51	9.72	9.68	15.03	30.44	19.89	24.55	21.11	10.04	18.75	18.18	26.28	31.90	67.10	57.441
P/S Ratio	0.34	0.35	0.33	0.37	0.35	0.42	0.74	0.90	0.90	1.34	2.32	1.74	2.17	1.92	1.13	1.81	1.72	2.11	2.18	3.89	3.329
P/B Ratio	0.96	1.07	1.07	1.23	1.13	1.32	2.31	2.85	2.74	4.14	7.10	4.98	6.13	4.90	2.74	4.57	4.26	5.39	5.64	10.72	9.168
P/FCF	64.39	9.35	6.55	4.99	4.31	8.40	27.24	51.06	55.59	40.37	48.55	36.73	62.41	62.79	62.94	-243.34	-72.32	-160.22	1198.25	-5938.95	-5938.949
P/OCF	13.70	6.58	5.13	4.14	3.59	6.29	17.01	24.14	20.37	21.60	27.82	19.49	26.63	23.32	16.25	40.50	88.84	80.09	54.96	137.41	137.408
EV/EBITDA	4.81	4.71	3.90	4.05	3.14	3.15	5.53	6.43	6.31	9.62	19.30	12.39	15.20	13.27	6.55	12.19	11.99	15.81	18.43	34.53	34.525
EV/Revenue	0.41	0.37	0.36	0.37	0.33	0.40	0.74	0.90	0.88	1.32	2.30	1.71	2.15	1.92	1.15	1.85	1.78	2.16	2.22	3.95	3.949
EV/EBIT	6.08	6.28	4.81	5.10	3.84	3.74	6.41	7.30	7.11	10.81	22.59	14.28	17.67	15.21	7.32	13.96	13.72	18.97	22.79	42.95	42.949
EV/FCF	76.95	9.85	7.00	4.97	4.02	8.02	27.47	51.18	54.66	39.71	48.18	36.24	61.94	62.88	64.13	-249.27	-74.98	-163.64	1223.54	-6026.76	-6026.762
Earnings Yield	12.7%	11.3%	15.0%	13.2%	16.7%	19.3%	11.8%	10.3%	10.3%	6.7%	3.3%	5.0%	4.1%	4.7%	10.0%	5.3%	5.5%	3.8%	3.1%	1.5%	1.49%
FCF Yield	1.6%	10.7%	15.3%	20.1%	23.2%	11.9%	3.7%	2.0%	1.8%	2.5%	2.1%	2.7%	1.6%	1.6%	1.6%	-0.4%	-1.4%	-0.6%	0.1%	-0.0%	-0.02%
Price/Tangible Book	snapshot only																				11.504
EV/OCF	snapshot only																				139.440
EV/Gross Profit	snapshot only																				13.025
Acquirers Multiple	snapshot only																				42.317
Shareholder Yield	snapshot only																				0.32%
Graham Number	snapshot only																				$61.41

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	1.59	1.57	1.64	1.61	1.69	1.96	2.00	2.02	1.97	1.87	1.84	2.03	1.97	1.99	2.10	1.95	1.84	1.86	1.82	1.76	1.757
Quick Ratio	0.93	0.95	1.05	1.02	1.09	1.05	1.19	1.22	1.23	1.18	1.17	1.29	1.19	1.14	1.17	1.10	1.03	1.06	1.10	1.07	1.068
Debt/Equity	0.25	0.22	0.22	0.20	0.22	0.10	0.12	0.15	0.16	0.16	0.17	0.12	0.14	0.12	0.15	0.20	0.27	0.23	0.22	0.25	0.246
Net Debt/Equity	0.19	0.06	0.07	-0.00	-0.08	-0.06	0.02	0.01	-0.05	-0.07	-0.05	-0.07	-0.05	0.01	0.05	0.11	0.16	0.12	0.12	0.16	0.158
Debt/Assets	0.14	0.12	0.12	0.10	0.11	0.06	0.07	0.09	0.09	0.09	0.10	0.07	0.08	0.07	0.10	0.12	0.16	0.14	0.13	0.14	0.139
Debt/EBITDA	1.06	0.93	0.75	0.68	0.65	0.25	0.29	0.35	0.37	0.38	0.47	0.29	0.34	0.32	0.36	0.51	0.73	0.66	0.72	0.78	0.780
Net Debt/EBITDA	0.79	0.24	0.25	-0.01	-0.23	-0.15	0.05	0.01	-0.11	-0.16	-0.15	-0.17	-0.11	0.02	0.12	0.29	0.43	0.33	0.38	0.50	0.503
Interest Coverage	18.89	17.33	21.77	26.73	31.50	37.23	45.36	46.73	55.21	65.70	55.64	87.64	80.00	79.81	85.94	53.74	40.04	26.37	20.91	18.57	18.575
Equity Multiplier	1.81	1.87	1.89	1.98	1.93	1.71	1.71	1.69	1.72	1.77	1.77	1.64	1.68	1.60	1.55	1.61	1.69	1.70	1.70	1.76	1.764
Cash Ratio	snapshot only																				0.122
Debt Service Coverage	snapshot only																				23.107
Cash to Debt	snapshot only																				0.355
FCF to Debt	snapshot only																				-0.007
Defensive Interval	snapshot only																				464.8 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	1.62	1.79	1.92	1.94	1.97	2.08	2.07	2.04	1.94	2.00	1.95	1.96	1.85	1.75	1.71	1.73	1.64	1.65	1.69	1.76	1.761
Inventory Turnover	4.53	4.97	5.44	5.29	5.18	4.66	4.97	4.77	4.63	4.34	4.56	4.57	4.25	4.11	4.00	4.12	3.79	3.97	4.10	4.29	4.288
Receivables Turnover	5.11	6.53	5.41	5.42	5.98	7.84	5.54	5.71	5.85	7.63	5.63	5.75	5.85	6.72	5.62	5.50	5.62	6.66	5.47	5.51	5.510
Payables Turnover	4.72	5.14	5.26	4.50	4.55	4.96	5.17	4.70	4.54	4.38	5.61	5.94	4.52	4.06	5.22	5.33	4.98	5.13	5.01	5.75	5.748
DSO	71	56	67	67	61	47	66	64	62	48	65	64	62	54	65	66	65	55	67	66	66.2 days
DIO	81	73	67	69	71	78	74	77	79	84	80	80	86	89	91	89	96	92	89	85	85.1 days
DPO	77	71	69	81	80	74	71	78	80	83	65	61	81	90	70	68	73	71	73	64	63.5 days
Cash Conversion Cycle	75	58	65	55	51	51	69	63	61	49	80	82	68	53	86	86	88	76	83	88	87.9 days
Fixed Asset Turnover	snapshot only																				7.323
Operating Cycle	snapshot only																				151.4 days
Cash Velocity	snapshot only																				31.580
Capital Intensity	snapshot only																				0.641

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	3.5%	18.0%	36.3%	46.0%	54.2%	46.9%	40.7%	33.5%	25.8%	27.1%	21.2%	18.5%	14.9%	11.0%	9.5%	9.5%	11.2%	13.9%	20.4%	28.5%	28.54%
Net Income	13.0%	7.9%	50.9%	60.6%	1.1%	2.0%	1.4%	1.5%	1.0%	41.4%	7.0%	12.0%	9.8%	12.8%	61.4%	20.8%	19.1%	1.0%	-27.0%	-22.6%	-22.60%
EPS	12.3%	10.4%	53.4%	59.2%	1.0%	1.9%	1.4%	1.5%	99.4%	41.8%	7.4%	11.9%	10.0%	12.5%	60.8%	20.5%	19.1%	1.0%	-27.0%	-22.4%	-22.35%
FCF	-92.6%	-2.5%	59.8%	4.8%	22.4%	92.5%	-25.6%	-68.3%	-75.0%	-14.7%	1.1%	2.2%	1.5%	1.9%	-58.9%	-1.2%	-1.8%	-1.5%	-87.8%	88.6%	88.65%
EBITDA	1.3%	2.1%	34.5%	47.6%	87.7%	1.3%	1.1%	1.1%	69.2%	38.3%	7.9%	17.0%	16.6%	17.0%	61.2%	20.2%	16.9%	7.6%	-17.4%	-3.1%	-3.11%
Op. Income	15.0%	5.0%	44.6%	48.1%	87.8%	1.6%	1.1%	1.2%	83.0%	46.5%	7.6%	16.0%	13.7%	13.9%	69.2%	22.1%	19.3%	5.3%	-23.9%	-10.3%	-10.29%
OCF Growth	snapshot only																				-18.35%
Asset Growth	snapshot only																				29.34%
Equity Growth	snapshot only																				18.13%
Debt Growth	snapshot only																				47.46%
Shares Change	snapshot only																				-0.32%
Dividend Growth	snapshot only																				0.35%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	3.6%	6.6%	9.5%	11.9%	15.0%	15.9%	18.4%	22.6%	26.1%	30.1%	32.5%	32.2%	30.6%	27.5%	23.1%	20.1%	17.1%	17.2%	16.9%	18.6%	18.59%
Revenue 5Y	4.1%	6.7%	9.0%	10.6%	12.1%	13.1%	14.8%	16.2%	16.6%	17.7%	17.5%	17.3%	17.1%	17.1%	17.1%	19.0%	20.7%	22.8%	25.1%	26.6%	26.59%
EPS 3Y	80.7%	—	—	—	—	57.0%	65.7%	64.5%	65.2%	66.2%	58.6%	64.8%	64.1%	67.3%	61.1%	50.2%	37.7%	17.2%	8.0%	1.6%	1.56%
EPS 5Y	25.7%	52.8%	59.9%	39.1%	38.7%	46.9%	52.2%	85.8%	88.3%	—	—	—	—	43.9%	51.0%	43.1%	42.7%	39.2%	36.2%	33.2%	33.17%
Net Income 3Y	80.8%	—	—	—	—	56.9%	65.6%	65.8%	67.0%	65.2%	57.6%	65.7%	65.4%	67.7%	61.2%	50.7%	37.8%	17.2%	8.1%	1.6%	1.56%
Net Income 5Y	25.5%	52.8%	60.1%	40.0%	39.6%	48.8%	54.1%	84.5%	89.4%	—	—	—	—	43.9%	51.0%	43.9%	43.6%	38.7%	35.8%	33.6%	33.59%
EBITDA 3Y	18.1%	11.7%	19.2%	18.9%	24.0%	36.0%	43.0%	45.6%	47.6%	48.9%	44.0%	52.5%	54.7%	55.9%	53.0%	42.4%	32.1%	20.3%	12.8%	10.9%	10.87%
EBITDA 5Y	9.1%	12.0%	17.5%	16.9%	19.6%	27.4%	31.5%	37.0%	39.3%	35.1%	30.3%	32.2%	30.3%	32.4%	38.5%	34.1%	34.4%	33.0%	31.8%	32.8%	32.81%
Gross Profit 3Y	9.2%	12.0%	16.1%	17.2%	20.2%	23.3%	27.4%	31.5%	35.0%	38.5%	40.2%	40.4%	39.9%	36.1%	30.0%	27.1%	21.8%	18.2%	16.4%	17.0%	17.02%
Gross Profit 5Y	6.5%	8.9%	11.9%	12.8%	14.6%	17.3%	19.9%	22.9%	24.4%	25.9%	25.5%	25.3%	24.8%	24.0%	24.2%	24.6%	25.0%	25.6%	27.4%	29.1%	29.12%
Op. Income 3Y	35.7%	18.9%	25.8%	21.4%	25.8%	42.3%	53.6%	55.2%	58.1%	57.9%	49.2%	56.7%	57.5%	62.2%	57.2%	46.9%	35.4%	20.7%	11.5%	8.3%	8.29%
Op. Income 5Y	14.2%	16.3%	25.0%	21.8%	24.1%	32.5%	37.6%	49.0%	53.7%	44.5%	35.5%	36.0%	32.9%	36.9%	45.8%	39.5%	39.9%	36.4%	33.7%	33.3%	33.34%
FCF 3Y	—	86.8%	53.8%	87.2%	1.5%	26.1%	47.7%	-2.8%	-24.2%	17.0%	36.7%	80.2%	1.4%	18.7%	-13.1%	—	—	—	-52.5%	—	—
FCF 5Y	-17.1%	2.4%	20.6%	17.2%	23.4%	—	29.6%	30.2%	—	60.6%	42.2%	46.0%	57.8%	11.7%	23.2%	—	—	—	-33.7%	—	—
OCF 3Y	1.0%	54.5%	41.8%	66.0%	1.0%	27.6%	40.1%	13.5%	1.5%	30.9%	47.8%	79.6%	93.5%	46.8%	25.8%	-4.6%	-31.6%	-13.8%	13.5%	8.3%	8.30%
OCF 5Y	4.1%	6.1%	20.5%	18.4%	23.6%	1.0%	31.0%	34.4%	95.8%	51.4%	44.2%	48.5%	58.2%	29.5%	42.4%	17.9%	-10.1%	3.8%	15.1%	21.0%	20.98%
Assets 3Y	3.3%	4.6%	7.0%	11.4%	15.2%	12.1%	15.4%	19.7%	22.5%	29.2%	30.0%	27.4%	27.0%	28.0%	26.3%	22.8%	22.7%	25.5%	24.5%	26.1%	26.10%
Assets 5Y	2.0%	2.8%	4.4%	7.5%	9.9%	9.5%	10.7%	10.9%	13.2%	14.7%	15.4%	16.0%	17.1%	18.1%	19.1%	21.6%	23.5%	25.9%	26.8%	26.6%	26.64%
Equity 3Y	1.4%	5.0%	7.9%	10.7%	14.3%	17.2%	18.3%	19.8%	23.3%	26.5%	27.6%	30.9%	30.3%	34.7%	35.0%	31.7%	28.2%	25.8%	24.6%	24.4%	24.36%
Book Value 3Y	1.3%	4.3%	6.9%	10.7%	13.2%	17.3%	18.3%	18.9%	21.9%	27.3%	28.4%	30.2%	29.2%	34.4%	34.9%	31.2%	28.1%	25.8%	24.6%	24.4%	24.36%
Dividend 3Y	1.5%	-0.6%	-0.8%	1.6%	2.1%	4.5%	7.9%	7.6%	9.5%	13.6%	11.5%	16.7%	18.4%	20.7%	24.1%	14.5%	8.9%	4.1%	-0.0%	0.0%	0.01%

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.79	0.76	0.64	0.62	0.57	0.62	0.66	0.73	0.75	0.78	0.80	0.83	0.86	0.88	0.93	0.98	1.00	0.99	0.99	0.98	0.980
Earnings Stability	0.20	0.34	0.46	0.54	0.58	0.64	0.71	0.76	0.82	0.91	0.93	0.92	0.95	0.90	0.91	0.93	0.95	0.91	0.78	0.73	0.730
Margin Stability	0.94	0.93	0.92	0.94	0.94	0.92	0.91	0.89	0.88	0.88	0.88	0.87	0.87	0.88	0.88	0.89	0.90	0.92	0.93	0.93	0.931
Rev. Growth Consistency	0.50	0.50	0.50	0.50	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
Earn. Growth Consistency	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	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	1	0	0
Earnings Persistence	0.50	0.97	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.83	0.97	0.95	0.96	0.95	0.50	0.92	0.92	1.00	0.89	0.91	0.910
Earnings Smoothness	0.88	0.92	0.59	0.53	0.31	0.01	0.17	0.13	0.33	0.66	0.93	0.89	0.91	0.88	0.53	0.81	0.83	0.99	0.69	0.75	0.745
ROE Trend	0.09	0.01	0.05	0.05	0.07	0.13	0.13	0.15	0.13	0.09	0.02	0.02	0.01	-0.03	0.02	-0.03	-0.03	-0.05	-0.08	-0.09	-0.087
Gross Margin Trend	0.02	0.01	0.02	0.01	0.01	0.03	0.03	0.04	0.05	0.04	0.03	0.04	0.04	0.02	0.01	-0.00	-0.02	-0.02	-0.03	-0.02	-0.022
FCF Margin Trend	-0.04	-0.00	0.02	0.05	0.04	0.01	-0.02	-0.03	-0.03	-0.01	0.01	0.00	-0.01	-0.01	-0.02	-0.04	-0.05	-0.05	-0.03	-0.02	-0.021
Sustainable Growth Rate	9.2%	9.3%	14.0%	14.7%	18.5%	26.6%	28.9%	31.1%	29.2%	27.9%	22.7%	24.7%	23.6%	22.3%	27.0%	22.6%	22.0%	17.9%	15.0%	13.6%	13.62%
Internal Growth Rate	5.4%	5.6%	8.5%	8.4%	10.9%	17.6%	19.3%	20.7%	19.3%	19.0%	15.0%	17.4%	16.2%	15.3%	19.7%	16.1%	15.0%	12.1%	10.1%	8.7%	8.74%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.58	1.35	1.30	1.83	1.67	0.83	0.50	0.40	0.48	0.70	1.09	1.02	0.92	0.91	0.62	0.46	0.20	0.33	0.58	0.49	0.488
FCF/OCF	0.21	0.70	0.78	0.83	0.83	0.75	0.62	0.47	0.37	0.54	0.57	0.53	0.43	0.37	0.26	-0.17	-1.23	-0.50	0.05	-0.02	-0.023
FCF/Net Income	snapshot only																				-0.011
OCF/EBITDA	snapshot only																				0.248
CapEx/Revenue	2.0%	1.6%	1.4%	1.5%	1.6%	1.7%	1.6%	2.0%	2.8%	2.9%	3.6%	4.2%	4.7%	5.2%	5.1%	5.2%	4.3%	4.0%	3.8%	2.9%	2.90%
CapEx/Depreciation	snapshot only																				1.292
Accruals Ratio	0.03	-0.02	-0.03	-0.08	-0.08	0.03	0.09	0.11	0.09	0.05	-0.01	-0.00	0.01	0.02	0.07	0.09	0.12	0.09	0.05	0.05	0.052
Sloan Accruals	snapshot only																				0.021
Cash Flow Adequacy	snapshot only																				0.686
Earnings Quality Score	snapshot only																				0.250

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	3.4%	3.0%	2.8%	2.4%	2.4%	2.0%	1.1%	0.9%	1.0%	0.7%	0.4%	0.7%	0.6%	0.8%	1.5%	0.9%	0.9%	0.7%	0.6%	0.3%	0.38%
Dividend/Share	$0.34	$0.34	$0.34	$0.35	$0.37	$0.38	$0.42	$0.45	$0.50	$0.55	$0.58	$0.72	$0.85	$0.97	$1.10	$1.10	$1.10	$1.10	$1.10	$1.10	$1.11
Payout Ratio	26.8%	26.4%	18.7%	18.0%	14.2%	10.2%	9.7%	9.1%	9.6%	10.3%	12.3%	13.1%	14.9%	16.2%	14.6%	16.4%	16.2%	18.1%	20.0%	21.3%	21.26%
FCF Payout Ratio	2.2%	27.9%	18.4%	11.9%	10.2%	16.5%	31.0%	47.7%	55.3%	27.7%	19.6%	24.2%	38.0%	48.3%	91.4%	—	—	—	7.5%	—	—
Total Payout Ratio	26.8%	26.4%	18.7%	18.0%	14.2%	10.2%	9.7%	9.1%	9.6%	10.3%	12.3%	13.1%	14.9%	16.2%	14.6%	16.4%	16.2%	18.1%	20.0%	21.3%	21.26%
Div. Increase Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0
Chowder Number	0.08	0.03	0.03	0.07	0.12	0.16	0.27	0.28	0.37	0.44	0.36	0.62	0.71	0.78	0.93	0.53	0.30	0.14	0.01	0.00	0.003
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%	0.0%	0.0%	0.00%
Net Buyback Yield	-0.3%	-0.2%	-0.2%	-0.2%	-0.2%	-0.1%	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%
Total Shareholder Return	3.1%	2.7%	2.6%	2.2%	2.2%	1.8%	1.1%	0.9%	1.0%	0.7%	0.4%	0.7%	0.6%	0.8%	1.5%	0.9%	0.9%	0.7%	0.6%	0.3%	0.32%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.68	0.71	0.71	0.72	0.72	0.78	0.78	0.77	0.76	0.75	0.76	0.75	0.76	0.74	0.74	0.74	0.75	0.75	0.75	0.73	0.729
Interest Burden (EBT/EBIT)	0.95	0.94	0.95	0.94	0.95	0.96	0.96	0.97	0.98	0.97	0.98	0.96	0.96	0.97	0.97	0.98	0.98	0.95	0.94	0.86	0.865
EBIT Margin	0.07	0.06	0.07	0.07	0.08	0.11	0.12	0.12	0.12	0.12	0.10	0.12	0.12	0.13	0.16	0.13	0.13	0.11	0.10	0.09	0.092
Asset Turnover	1.62	1.79	1.92	1.94	1.97	2.08	2.07	2.04	1.94	2.00	1.95	1.96	1.85	1.75	1.71	1.73	1.64	1.65	1.69	1.76	1.761
Equity Multiplier	1.78	1.77	1.79	1.89	1.88	1.78	1.78	1.81	1.81	1.75	1.74	1.66	1.69	1.67	1.65	1.62	1.69	1.65	1.63	1.69	1.694

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$1.29	$1.28	$1.80	$1.97	$2.59	$3.77	$4.36	$4.94	$5.17	$5.34	$4.69	$5.53	$5.69	$6.01	$7.53	$6.66	$6.78	$6.07	$5.50	$5.17	$5.17
Book Value/Share	$10.56	$10.66	$11.24	$12.10	$13.77	$14.86	$16.08	$16.84	$18.26	$19.41	$20.08	$22.08	$22.78	$25.87	$27.59	$27.33	$28.96	$29.57	$31.08	$32.39	$32.39
Tangible Book/Share	$8.50	$8.73	$9.40	$10.28	$11.94	$13.21	$14.45	$15.26	$16.68	$17.87	$18.54	$20.55	$21.30	$23.38	$25.13	$25.01	$26.65	$27.34	$28.89	$30.18	$30.18
Revenue/Share	$29.63	$32.15	$35.95	$40.34	$44.63	$46.93	$50.51	$53.49	$55.93	$59.82	$61.47	$63.32	$64.41	$66.21	$67.04	$69.19	$71.62	$75.45	$80.61	$89.21	$89.21
FCF/Share	$0.16	$1.22	$1.83	$2.99	$3.61	$2.33	$1.36	$0.94	$0.90	$1.99	$2.94	$2.99	$2.24	$2.02	$1.20	$-0.51	$-1.70	$-1.00	$0.15	$-0.06	$-0.06
OCF/Share	$0.74	$1.73	$2.34	$3.59	$4.34	$3.11	$2.18	$1.99	$2.46	$3.72	$5.13	$5.64	$5.25	$5.44	$4.65	$3.09	$1.39	$1.99	$3.19	$2.53	$2.53
Cash/Share	$0.69	$1.77	$1.65	$2.52	$4.08	$2.36	$1.66	$2.50	$3.73	$4.43	$4.54	$4.03	$4.12	$2.86	$2.76	$2.33	$3.23	$3.44	$3.26	$2.82	$2.82
EBITDA/Share	$2.52	$2.55	$3.29	$3.67	$4.63	$5.92	$6.77	$7.49	$7.80	$8.21	$7.34	$8.76	$9.12	$9.57	$11.77	$10.50	$10.66	$10.30	$9.72	$10.21	$10.21
Debt/Share	$2.67	$2.38	$2.48	$2.48	$3.02	$1.48	$1.97	$2.60	$2.90	$3.12	$3.47	$2.56	$3.08	$3.04	$4.19	$5.38	$7.78	$6.84	$6.96	$7.96	$7.96
Net Debt/Share	$1.98	$0.61	$0.82	$-0.04	$-1.06	$-0.89	$0.31	$0.11	$-0.83	$-1.31	$-1.07	$-1.47	$-1.04	$0.18	$1.44	$3.05	$4.55	$3.40	$3.70	$5.13	$5.13

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	11.527
Altman Z-Prime	snapshot only																				19.359
Piotroski F-Score	4	6	8	6	8	7	7	7	7	6	5	7	7	6	4	3	4	4	3	5	5
Beneish M-Score	-2.08	-2.20	-2.26	-2.37	-2.51	-2.34	-1.93	-1.98	-1.99	-1.91	-2.44	-2.26	-2.32	-2.11	-1.90	-1.92	-1.55	-1.79	-1.97	-1.85	-1.847
Ohlson O-Score	snapshot only																				-7.717
ROIC (Greenblatt)	snapshot only																				27.57%
Net-Net WC	snapshot only																				$16.02
EVA	snapshot only																				$27620584.72

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AA-
Credit Score	77.89	89.10	90.73	90.98	91.02	96.23	95.99	94.41	92.03	95.41	95.53	95.95	95.25	95.59	93.11	85.20	82.95	83.84	85.46	82.98	82.976
Credit Grade	snapshot only																				4
Credit Trend	snapshot only																				-2.224
Implied Spread (bps)	snapshot only																				100.000
Industry Credit Rank	snapshot only																				72
Sector Credit Rank	snapshot only																				75

HPS-A.TO TSX

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

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