$67.50

+0.84 (+1.26%)

Weekly Expected Move ±3.4%

$60 $62 $64 $66 $69

NASDAQ · Financial Services · Banks - Regional · Alpha Radar Neutral · Power 52 · $5.5B mcap · 81M float · 1.23% daily turnover · Short 74% of daily vol

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

Dividends Analysis Technicals Weather Peers ESG Institutions ETF Exposure Dark Pool Short Interest

Edge Score

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

WEAK EDGE

44.0 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 8.1% · 5Y Avg: 9.0%

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. HWC shows a Weak competitive edge (44.0/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. ROIC of 8.1% 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

$82

Low

$82

Avg Target

$82

High

Based on 1 analyst since Apr 21, 2026 earnings

Analyst Recommendations

Strong Buy: 1Buy: 10Hold: 10Sell: 2Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$82.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-18	Piper Sandler	—	$78	$82	+4	+27.8%	$64.15
2026-01-21	D.A. Davidson	—	$62	$79	+17	+13.8%	$69.42
2026-01-21	Piper Sandler	—	$52	$78	+26	+15.4%	$67.60
2026-01-07	Raymond James	—	$72	$78	+6	+16.6%	$66.88
2025-12-17	Barclays	—	Initiated	$76	—	+15.6%	$65.76
2025-10-15	Raymond James	—	Initiated	$72	—	+15.1%	$62.53
2025-04-16	D.A. Davidson	Gary Tenner	$65	$62	-3	+27.8%	$48.52
2024-12-09	Stephens	Matt Olney	$50	$68	+18	+16.8%	$58.24
2024-10-16	D.A. Davidson	Gary Tenner	$57	$65	+8	+22.3%	$53.13
2024-07-17	Truist Financial	Brandon King	$49	$57	+8	+6.2%	$53.69
2024-07-08	Truist Financial	Brandon King	$46	$49	+3	+6.9%	$45.83
2024-04-17	Stephens	Matt Olney	$58	$50	-8	+16.8%	$42.82
2024-04-17	Truist Financial	Jennifer Demba	$50	$46	-4	+9.5%	$42.01
2024-04-17	Piper Sandler	Brett Rabatin	Initiated	$52	—	+23.8%	$42.01
2024-04-17	D.A. Davidson	Gary Tenner	Initiated	$57	—	+35.7%	$42.01
2024-04-01	Truist Financial	Brandon King	Initiated	$50	—	+8.6%	$46.04
2022-04-20	Stephens	—	Initiated	$58	—	+14.7%	$50.56

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. HWC receives an overall rating of B. Strongest factors: DCF (4/5), ROA (4/5). Areas of concern: D/E (2/5), P/E (2/5), P/B (2/5).

Rating Change History

Date	From	To
2026-04-24	B+	B
2026-04-21	A-	B+
2026-04-01	B+	A-
2026-03-06	B	B+
2026-03-04	B+	B
2026-03-02	B	B+
2026-02-24	B+	B
2026-02-20	A-	B+
2026-02-02	B+	A-
2026-01-20	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.

★ ★ ★ ★ ★ 45 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

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. HWC scores highest in Earnings Quality (92/100) and lowest in Growth (27/100). An overall grade of A places HWC 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-B Score

2.54

Grey Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✓ ✓ ✗ ✓ ✗ ✗

Beneish M-Score

-2.57

Unlikely Manipulator

Ohlson O-Score

-5.34

Bankruptcy prob: 0.5%

Low Risk

Credit Rating

Score: 73.8/100

Trend: Deteriorating

Earnings Quality

100/100

OCF/NI: 1.33x

Accruals: -0.4%

The Altman-B Score replaces the traditional Z-Score for banks and financial institutions. It weights equity-to-assets, return on assets, retained earnings, market value coverage, and cash reserves — metrics that better capture bank solvency than manufacturing-oriented ratios. HWC scores 2.54, placing it in the Grey Zone (safe > 3.0, distress < 1.5). 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. HWC 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. HWC's score of -2.57 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. HWC's implied 0.5% 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. HWC receives an estimated rating of A (score: 73.8/100), 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). HWC's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

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

P/E

13.41x

PEG

-1.40x

P/S

2.83x

P/B

1.26x

P/FCF

9.85x

P/OCF

9.48x

EV/EBITDA

10.69x

EV/Revenue

3.10x

EV/EBIT

11.22x

EV/FCF

11.30x

Earnings Yield

7.91%

FCF Yield

10.16%

Shareholder Yield

9.12%

Graham Number

$78.35

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 13.4x earnings, HWC trades at a reasonable valuation. An earnings yield of 7.9% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $78.35 per share, suggesting a potential 16% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.793

NI / EBT

Interest Burden

0.975

EBT / EBIT

EBIT Margin

0.276

EBIT / Rev

Asset Turnover

0.055

Rev / Assets

Equity Multiplier

8.216

Assets / Equity

ROE

9.6%

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. HWC's ROE of 9.6% is driven by financial leverage (equity multiplier: 8.22x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

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

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$42.78

Price/Value

1.49x

Margin of Safety

-48.65%

Premium

48.65%

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 HWC's realized 0.0% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. HWC trades at a 49% premium to its adjusted intrinsic value of $42.78, 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 13.4x.

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

$67.50

Median 1Y

$68.11

5th Pctile

$31.64

95th Pctile

$146.70

Ann. Volatility

43.1%

Analyst Target

$82.00

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

Executive Compensation

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

C-Suite Compensation

Executive	Salary	Stock	Total
John M. Hairston, President and CEO	$1,220,701	$2,970,256	$6,334,741
D. Shane Loper, Chief Operating Officer	$776,438	$1,195,562	$3,426,875
Michael M. Achary, Chief Financial Officer	$630,137	$904,050	$2,453,815
Christopher S. Ziluca, Chief Credit Officer	$558,836	$570,066	$1,599,098
Michael Otero, Risk f Risk Officer	$493,836	$504,437	$1,490,308

CEO Pay Ratio

49:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $6,334,741

Avg Employee Cost (SGA/emp): $128,979

Employees: 3,627

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

3,627

+1.0% YoY

Revenue / Employee

$556,431

Rev: $2,018,174,000

Profit / Employee

$134,015

NI: $486,073,000

SGA / Employee

$128,979

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	11.0%	12.4%	13.0%	13.5%	14.4%	14.6%	14.9%	15.0%	14.9%	13.9%	11.0%	10.5%	10.4%	10.9%	11.6%	11.9%	11.9%	12.2%	11.3%	9.6%	9.64%
ROA	1.2%	1.3%	1.3%	1.4%	1.5%	1.5%	1.5%	1.5%	1.5%	1.4%	1.1%	1.1%	1.1%	1.1%	1.3%	1.3%	1.3%	1.4%	1.4%	1.2%	1.17%
ROIC	-16.9%	-19.1%	-8.4%	-8.7%	-9.3%	-9.4%	-60.1%	-60.5%	-60.1%	-55.7%	-50.2%	-47.9%	-47.5%	-49.7%	-29.2%	-29.8%	-29.8%	-30.5%	9.5%	8.1%	8.11%
ROCE	10.4%	11.9%	12.9%	13.4%	14.4%	14.6%	15.6%	15.7%	15.5%	14.4%	10.5%	9.9%	9.9%	10.4%	11.6%	12.0%	12.0%	12.3%	1.8%	1.6%	1.55%
Gross Margin	1.0%	1.1%	1.1%	1.0%	1.0%	94.6%	87.5%	79.3%	71.5%	65.0%	61.0%	66.8%	67.8%	66.3%	69.7%	72.2%	71.9%	72.4%	75.6%	68.4%	68.35%
Operating Margin	31.9%	47.5%	50.2%	48.2%	45.2%	44.3%	42.6%	35.0%	30.2%	24.4%	14.0%	26.3%	28.1%	27.8%	29.8%	30.6%	28.9%	31.1%	33.3%	14.4%	14.36%
Net Margin	25.9%	38.4%	41.9%	38.6%	35.7%	35.2%	34.0%	27.9%	24.1%	19.5%	11.3%	21.4%	22.2%	22.1%	24.2%	24.5%	22.7%	24.7%	24.4%	11.6%	11.60%
EBITDA Margin	35.3%	50.9%	53.6%	51.7%	48.5%	47.4%	45.3%	37.6%	32.6%	26.7%	16.5%	28.4%	30.1%	29.8%	31.8%	32.6%	30.9%	32.7%	33.8%	15.9%	15.90%
FCF Margin	46.3%	47.1%	41.7%	43.7%	50.6%	50.7%	55.4%	39.0%	30.9%	28.9%	24.9%	28.5%	27.5%	26.1%	30.0%	27.1%	28.3%	28.2%	25.9%	27.4%	27.40%
OCF Margin	48.2%	48.5%	43.5%	46.0%	53.1%	53.1%	57.3%	40.4%	32.6%	30.5%	26.2%	29.7%	28.0%	26.5%	30.5%	27.7%	29.0%	28.9%	26.8%	28.5%	28.47%
ROE 3Y Avg	snapshot only																				10.19%
ROE 5Y Avg	snapshot only																				11.88%
ROA 3Y Avg	snapshot only																				1.19%
ROIC 3Y Avg	snapshot only																				7.28%
ROIC Economic	snapshot only																				7.37%
Cash ROA	snapshot only																				1.56%
Cash ROIC	snapshot only																				10.54%
CROIC	snapshot only																				10.15%
NOPAT Margin	snapshot only																				21.89%
Pretax Margin	snapshot only																				26.92%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				25.47%
SBC / Revenue	snapshot only																				1.25%

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	9.22	8.69	8.54	8.63	6.84	6.92	7.36	5.54	5.93	6.15	10.08	10.09	10.68	10.96	9.97	9.40	10.36	11.01	11.04	12.64	13.412
P/S Ratio	2.57	2.74	2.94	3.11	2.64	2.61	2.63	1.82	1.78	1.60	2.10	1.95	2.01	2.14	2.24	2.18	2.42	2.65	2.66	2.70	2.826
P/B Ratio	1.01	1.08	1.08	1.13	0.95	0.98	1.15	0.87	0.93	0.89	1.04	0.99	1.04	1.12	1.11	1.07	1.18	1.29	1.20	1.17	1.256
P/FCF	5.54	5.82	7.04	7.13	5.22	5.15	4.74	4.68	5.74	5.55	8.42	6.83	7.32	8.22	7.46	8.04	8.56	9.39	10.26	9.85	9.846
P/OCF	5.32	5.65	6.75	6.77	4.97	4.91	4.58	4.51	5.45	5.25	7.99	6.57	7.18	8.09	7.34	7.87	8.35	9.15	9.91	9.48	9.477
EV/EBITDA	-4.46	-3.54	-8.52	-7.96	-8.37	-8.13	-0.51	-1.82	-1.58	-1.88	-1.17	-1.57	-1.22	-0.61	-1.81	-2.02	-1.32	-0.62	9.36	10.69	10.691
EV/Revenue	-1.61	-1.44	-3.88	-3.80	-4.28	-4.08	-0.24	-0.81	-0.63	-0.66	-0.33	-0.41	-0.31	-0.16	-0.54	-0.63	-0.41	-0.20	3.04	3.10	3.098
EV/EBIT	-4.93	-3.87	-9.21	-8.57	-8.97	-8.70	-0.54	-1.95	-1.69	-2.02	-1.28	-1.73	-1.34	-0.66	-1.94	-2.16	-1.41	-0.65	9.82	11.22	11.224
EV/FCF	-3.48	-3.06	-9.31	-8.69	-8.47	-8.04	-0.44	-2.07	-2.05	-2.28	-1.33	-1.45	-1.14	-0.62	-1.81	-2.31	-1.46	-0.70	11.74	11.30	11.305
Earnings Yield	10.8%	11.5%	11.7%	11.6%	14.6%	14.4%	13.6%	18.0%	16.9%	16.3%	9.9%	9.9%	9.4%	9.1%	10.0%	10.6%	9.6%	9.1%	9.1%	7.9%	7.91%
FCF Yield	18.1%	17.2%	14.2%	14.0%	19.1%	19.4%	21.1%	21.4%	17.4%	18.0%	11.9%	14.7%	13.7%	12.2%	13.4%	12.4%	11.7%	10.7%	9.7%	10.2%	10.16%
Price/Tangible Book	snapshot only																				1.509
EV/OCF	snapshot only																				10.881
EV/Gross Profit	snapshot only																				4.286
Acquirers Multiple	snapshot only																				11.224
Shareholder Yield	snapshot only																				9.12%
Graham Number	snapshot only																				$78.35

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	0.28	0.28	0.36	0.36	0.36	0.36	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.23	0.23	0.23	0.23	0.13	0.13	0.130
Quick Ratio	0.28	0.28	0.36	0.36	0.36	0.36	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.23	0.23	0.23	0.23	0.13	0.13	0.130
Debt/Equity	0.63	0.63	0.55	0.55	0.55	0.55	0.67	0.67	0.67	0.67	0.40	0.40	0.40	0.40	0.23	0.23	0.23	0.23	0.30	0.30	0.300
Net Debt/Equity	-1.65	-1.65	-2.50	-2.50	-2.50	-2.50	-1.26	-1.26	-1.26	-1.26	-1.21	-1.21	-1.21	-1.21	-1.38	-1.38	-1.38	-1.38	0.17	0.17	0.174
Debt/Assets	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.04	0.04	0.038
Debt/EBITDA	4.43	3.94	3.31	3.20	2.99	2.95	3.16	3.14	3.17	3.41	2.83	2.97	2.99	2.87	1.57	1.53	1.54	1.51	2.04	2.38	2.382
Net Debt/EBITDA	-11.56	-10.28	-14.97	-14.48	-13.54	-13.33	-5.98	-5.94	-5.99	-6.44	-8.55	-8.99	-9.05	-8.67	-9.27	-9.05	-9.07	-8.89	1.18	1.38	1.380
Interest Coverage	6.29	8.65	11.59	14.31	17.30	13.90	7.57	3.99	2.27	1.46	0.94	0.79	0.75	0.77	0.94	1.02	1.07	1.16	1.23	1.07	1.073
Equity Multiplier	9.78	9.78	9.95	9.95	9.95	9.95	10.53	10.53	10.53	10.53	9.35	9.35	9.35	9.35	8.50	8.50	8.50	8.50	7.95	7.95	7.953
Cash Ratio	snapshot only																				0.554
Debt Service Coverage	snapshot only																				1.126
Cash to Debt	snapshot only																				0.421
FCF to Debt	snapshot only																				0.397
Defensive Interval	snapshot only																				295.7 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	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.055
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	13.85	13.82	13.39	13.21	13.19	13.66	12.84	13.99	15.28	16.29	13.06	13.43	13.63	13.78	13.64	13.52	13.42	13.37	14.33	13.76	13.763
Payables Turnover	13.47	4.64	-7.68	-14.55	-13.76	-3.49	9.00	25.54	46.96	70.62	21.19	23.91	24.89	24.93	20.36	19.36	18.58	17.53	31.41	31.03	31.034
DSO	26	26	27	28	28	27	28	26	24	22	28	27	27	26	27	27	27	27	25	27	26.5 days
DIO	0	0	—	—	—	—	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	27	79	—	—	—	—	41	14	8	5	17	15	15	15	18	19	20	21	12	12	11.8 days
Cash Conversion Cycle	-1	-52	—	—	—	—	-12	12	16	17	11	12	12	12	9	8	8	6	14	15	14.8 days
Cash Velocity	snapshot only																				3.442
Capital Intensity	snapshot only																				18.296

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	-5.3%	-3.8%	-2.5%	-2.1%	-2.4%	1.3%	9.1%	20.5%	31.8%	35.6%	28.5%	21.3%	12.6%	6.8%	8.6%	4.6%	2.3%	0.8%	-1.5%	-4.5%	-4.53%
Net Income	6.6%	8.6%	11.1%	1.8%	35.4%	20.9%	13.1%	9.9%	2.2%	-6.2%	-25.1%	-28.9%	-29.0%	-19.9%	17.4%	25.9%	26.7%	23.9%	5.5%	-12.2%	-12.24%
EPS	6.4%	8.4%	11.0%	1.8%	37.5%	24.7%	14.6%	11.2%	2.3%	-6.7%	-24.6%	-28.5%	-28.6%	-20.0%	17.4%	26.3%	27.5%	25.6%	8.4%	-7.8%	-7.75%
FCF	1.5%	71.5%	77.2%	2.6%	6.5%	8.9%	44.6%	7.5%	-19.4%	-22.7%	-42.2%	-11.2%	0.2%	-3.5%	30.9%	-0.5%	5.1%	9.0%	-15.0%	-3.6%	-3.64%
EBITDA	6.8%	9.3%	9.2%	2.3%	38.1%	24.7%	14.8%	11.9%	3.7%	-5.1%	-23.9%	-28.1%	-28.0%	-19.2%	14.8%	23.6%	24.3%	21.5%	6.5%	-10.9%	-10.94%
Op. Income	4.2%	5.3%	5.6%	3.1%	42.6%	27.2%	16.0%	12.6%	3.6%	-5.6%	-25.6%	-29.9%	-29.5%	-20.1%	17.1%	26.8%	27.5%	24.5%	9.0%	-9.3%	-9.28%
OCF Growth	snapshot only																				-2.00%
Asset Growth	snapshot only																				1.11%
Equity Growth	snapshot only																				8.05%
Debt Growth	snapshot only																				38.33%
Shares Change	snapshot only																				-4.86%
Dividend Growth	snapshot only																				8.61%

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	3.2%	2.1%	1.5%	0.0%	-1.0%	-0.5%	0.6%	3.2%	6.8%	9.7%	11.0%	12.7%	13.1%	13.6%	15.0%	15.2%	14.9%	13.5%	11.2%	6.6%	6.59%
Revenue 5Y	7.3%	6.9%	6.4%	5.5%	4.6%	4.3%	4.6%	5.7%	7.2%	7.9%	7.9%	7.9%	7.6%	7.4%	7.3%	6.9%	7.0%	7.3%	7.9%	7.4%	7.39%
EPS 3Y	12.2%	15.9%	11.6%	12.2%	13.1%	16.2%	17.5%	56.6%	—	—	—	30.4%	0.1%	-2.3%	0.5%	0.1%	-2.3%	-2.1%	-1.4%	-5.9%	-5.92%
EPS 5Y	25.9%	27.7%	23.3%	19.2%	20.6%	19.7%	19.3%	16.6%	14.7%	12.7%	3.7%	2.3%	1.1%	3.2%	7.5%	28.2%	—	—	—	20.9%	20.90%
Net Income 3Y	13.6%	14.8%	12.7%	13.2%	13.8%	16.0%	17.0%	56.6%	—	—	—	29.5%	-0.6%	-3.1%	-0.2%	-0.5%	-2.8%	-2.3%	-2.5%	-7.7%	-7.73%
Net Income 5Y	28.7%	30.6%	25.4%	19.8%	20.7%	19.6%	19.4%	17.1%	15.2%	11.4%	3.9%	2.5%	1.3%	3.3%	7.1%	28.0%	—	—	—	19.1%	19.13%
EBITDA 3Y	7.1%	9.4%	12.5%	13.1%	13.9%	16.3%	16.6%	49.0%	—	—	—	38.6%	1.0%	-1.5%	0.1%	-0.2%	-2.5%	-2.3%	-2.4%	-7.5%	-7.49%
EBITDA 5Y	21.8%	24.5%	21.2%	16.5%	17.4%	16.2%	14.4%	13.1%	12.0%	9.2%	4.5%	3.1%	2.0%	3.8%	6.7%	24.1%	—	—	—	24.0%	24.00%
Gross Profit 3Y	6.3%	7.1%	8.6%	8.4%	7.6%	7.5%	6.6%	14.3%	28.9%	27.7%	25.3%	11.7%	0.6%	-0.4%	0.3%	0.4%	0.8%	1.2%	1.5%	-0.8%	-0.77%
Gross Profit 5Y	10.9%	11.9%	11.3%	9.6%	8.6%	7.6%	7.0%	6.8%	6.5%	5.4%	4.0%	3.4%	3.1%	3.2%	3.6%	7.8%	15.9%	16.3%	17.3%	8.8%	8.76%
Op. Income 3Y	8.3%	10.8%	14.1%	14.8%	15.7%	18.4%	18.8%	59.9%	—	—	—	48.0%	1.3%	-1.4%	0.3%	0.0%	-2.4%	-2.1%	-1.7%	-6.9%	-6.90%
Op. Income 5Y	27.3%	30.1%	24.9%	18.9%	19.9%	18.4%	16.4%	14.9%	13.4%	10.3%	5.1%	3.6%	2.5%	4.6%	7.9%	29.5%	—	—	—	30.1%	30.14%
FCF 3Y	14.2%	47.5%	12.2%	24.2%	30.4%	43.9%	38.0%	26.2%	29.2%	13.0%	14.0%	-0.7%	-4.9%	-6.7%	3.1%	-1.7%	-5.3%	-6.7%	-13.7%	-5.2%	-5.23%
FCF 5Y	18.8%	19.4%	11.8%	12.7%	16.1%	4.7%	15.8%	9.4%	5.0%	22.0%	3.4%	12.8%	12.4%	17.3%	14.8%	12.2%	17.9%	8.7%	10.5%	-1.3%	-1.26%
OCF 3Y	13.5%	40.8%	9.2%	19.5%	25.4%	36.8%	33.7%	22.7%	25.3%	11.3%	11.7%	-1.3%	-5.6%	-7.2%	2.2%	-2.7%	-6.1%	-7.4%	-13.7%	-5.2%	-5.18%
OCF 5Y	18.6%	18.8%	11.4%	12.2%	15.3%	4.8%	15.4%	9.1%	4.9%	19.2%	2.0%	10.0%	9.1%	13.1%	12.2%	10.0%	15.0%	7.0%	8.8%	-1.6%	-1.61%
Assets 3Y	7.2%	7.2%	9.0%	9.0%	9.0%	9.0%	4.8%	4.8%	4.8%	4.8%	1.9%	1.9%	1.9%	1.9%	-1.3%	-1.3%	-1.3%	-1.3%	0.3%	0.3%	0.27%
Assets 5Y	8.1%	8.1%	8.8%	8.8%	8.8%	8.8%	5.2%	5.2%	5.2%	5.2%	4.7%	4.7%	4.7%	4.7%	2.8%	2.8%	2.8%	2.8%	1.1%	1.1%	1.07%
Equity 3Y	6.0%	6.0%	6.0%	6.0%	6.0%	6.0%	-1.2%	-1.2%	-1.2%	-1.2%	3.4%	3.4%	3.4%	3.4%	4.0%	4.0%	4.0%	4.0%	10.1%	10.1%	10.09%
Book Value 3Y	4.7%	7.1%	4.9%	5.0%	5.4%	6.2%	-0.8%	-1.2%	-1.6%	-1.2%	3.5%	4.1%	4.2%	4.3%	4.7%	4.7%	4.5%	4.2%	11.3%	12.3%	12.26%
Dividend 3Y	-1.1%	1.1%	-0.9%	-0.9%	-0.8%	-0.3%	-0.1%	0.4%	1.1%	2.5%	3.5%	3.5%	5.4%	7.1%	8.4%	11.8%	9.6%	7.6%	6.7%	4.8%	4.82%

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	0.82	0.76	0.66	0.54	0.48	0.55	0.59	0.55	0.53	0.54	0.63	0.65	0.64	0.65	0.67	0.71	0.75	0.78	0.85	0.84	0.840
Earnings Stability	0.04	0.07	0.06	0.19	0.17	0.18	0.18	0.41	0.31	0.27	0.15	0.33	0.25	0.26	0.28	0.55	0.42	0.40	0.40	0.19	0.190
Margin Stability	0.77	0.76	0.75	0.81	0.74	0.74	0.74	0.81	0.74	0.74	0.73	0.81	0.83	0.82	0.81	0.78	0.71	0.73	0.76	0.87	0.869
Rev. Growth Consistency	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	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.000
Earn. Growth Consistency	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	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	1	1
Earnings Persistence	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.96	0.99	0.98	0.90	0.88	0.88	0.92	0.93	0.90	0.89	0.90	0.98	0.95	0.951
Earnings Smoothness	—	—	—	0.06	0.70	0.81	0.88	0.91	0.98	0.94	0.71	0.66	0.66	0.78	0.84	0.77	0.76	0.79	0.95	0.87	0.870
ROE Trend	0.06	0.08	0.09	0.09	0.09	0.09	0.10	0.07	0.03	0.01	-0.04	-0.05	-0.05	-0.04	-0.02	-0.01	-0.01	-0.01	0.00	-0.01	-0.014
Gross Margin Trend	0.29	0.34	0.38	0.37	0.34	0.28	0.21	0.04	-0.16	-0.24	-0.30	-0.31	-0.28	-0.23	-0.15	-0.09	-0.04	0.01	0.05	0.05	0.047
FCF Margin Trend	0.27	0.26	0.20	0.12	0.19	0.14	0.23	-0.04	-0.18	-0.20	-0.24	-0.13	-0.13	-0.14	-0.10	-0.07	-0.01	0.01	-0.02	-0.00	-0.004
Sustainable Growth Rate	8.2%	9.6%	10.3%	10.8%	11.7%	11.9%	12.3%	12.3%	12.1%	10.9%	8.1%	7.5%	7.2%	7.5%	8.3%	8.3%	8.1%	8.4%	7.7%	6.0%	6.00%
Internal Growth Rate	0.9%	1.0%	1.1%	1.1%	1.2%	1.2%	1.2%	1.2%	1.2%	1.1%	0.8%	0.8%	0.7%	0.8%	0.9%	0.9%	0.9%	0.9%	1.0%	0.7%	0.74%

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	1.73	1.54	1.26	1.27	1.38	1.41	1.61	1.23	1.09	1.17	1.26	1.54	1.49	1.35	1.36	1.19	1.24	1.20	1.11	1.33	1.333
FCF/OCF	0.96	0.97	0.96	0.95	0.95	0.95	0.97	0.96	0.95	0.94	0.95	0.96	0.98	0.98	0.98	0.98	0.98	0.98	0.97	0.96	0.963
FCF/Net Income	snapshot only																				1.283
OCF/EBITDA	snapshot only																				0.983
CapEx/Revenue	1.9%	1.4%	1.7%	2.3%	2.6%	2.4%	2.0%	1.5%	1.7%	1.7%	1.3%	1.1%	0.5%	0.4%	0.5%	0.6%	0.7%	0.7%	0.9%	1.1%	1.07%
CapEx/Depreciation	snapshot only																				0.776
Accruals Ratio	-0.01	-0.01	-0.00	-0.00	-0.01	-0.01	-0.01	-0.00	-0.00	-0.00	-0.00	-0.01	-0.01	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.00	-0.004
Sloan Accruals	snapshot only																				0.634
Cash Flow Adequacy	snapshot only																				3.119
Earnings Quality Score	snapshot only																				1.000

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	2.7%	2.6%	2.4%	2.3%	2.7%	2.6%	2.5%	3.3%	3.2%	3.4%	2.6%	2.8%	2.9%	2.9%	2.8%	3.2%	3.0%	2.8%	2.9%	3.0%	2.74%
Dividend/Share	$1.08	$1.08	$1.09	$1.09	$1.09	$1.10	$1.08	$1.11	$1.14	$1.18	$1.21	$1.21	$1.31	$1.41	$1.51	$1.66	$1.71	$1.77	$1.82	$1.90	$1.85
Payout Ratio	25.3%	22.4%	20.7%	20.0%	18.6%	18.3%	18.0%	18.4%	19.0%	21.0%	26.7%	28.0%	30.6%	31.4%	28.4%	30.5%	31.4%	31.3%	31.6%	37.8%	37.75%
FCF Payout Ratio	15.2%	15.0%	17.1%	16.5%	14.2%	13.6%	11.6%	15.5%	18.4%	19.0%	22.3%	19.0%	21.0%	23.6%	21.3%	26.1%	25.9%	26.7%	29.4%	29.4%	29.42%
Total Payout Ratio	28.5%	25.8%	25.4%	28.4%	33.9%	33.4%	29.3%	26.0%	19.5%	21.0%	26.7%	28.0%	34.6%	39.1%	36.6%	42.9%	49.1%	53.8%	82.4%	1.2%	1.15%
Div. Increase Streak	1	1	1	1	0	0	0	1	0	0	0	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.03	0.03	0.03	0.02	0.02	0.01	0.01	0.04	0.08	0.11	0.13	0.11	0.17	0.23	0.28	0.40	0.33	0.27	0.20	0.12	0.116
Buyback Yield	0.3%	0.4%	0.6%	1.0%	2.2%	2.2%	1.5%	1.4%	0.1%	0.0%	0.0%	0.0%	0.4%	0.7%	0.8%	1.3%	1.7%	2.0%	4.6%	6.1%	6.13%
Net Buyback Yield	0.1%	0.2%	0.4%	0.9%	2.1%	2.1%	1.4%	1.3%	-0.0%	-0.1%	-0.1%	-0.1%	0.3%	0.6%	0.7%	1.2%	1.6%	2.0%	4.5%	6.0%	6.04%
Total Shareholder Return	2.9%	2.8%	2.9%	3.2%	4.8%	4.7%	3.9%	4.6%	3.2%	3.3%	2.5%	2.7%	3.1%	3.5%	3.6%	4.5%	4.6%	4.8%	7.4%	9.0%	9.03%

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)	0.85	0.85	0.82	0.81	0.81	0.80	0.80	0.79	0.80	0.80	0.80	0.81	0.80	0.80	0.80	0.80	0.80	0.80	0.79	0.79	0.793
Interest Burden (EBT/EBIT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.98	0.98	0.975
EBIT Margin	0.33	0.37	0.42	0.44	0.48	0.47	0.45	0.41	0.38	0.33	0.26	0.24	0.23	0.24	0.28	0.29	0.29	0.30	0.31	0.28	0.276
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.055
Equity Multiplier	9.30	9.30	9.87	9.87	9.87	9.87	10.23	10.23	10.23	10.23	9.90	9.90	9.90	9.90	8.91	8.91	8.91	8.91	8.22	8.22	8.216

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)	$4.26	$4.83	$5.25	$5.44	$5.86	$6.02	$6.01	$6.04	$6.00	$5.62	$4.53	$4.32	$4.28	$4.50	$5.32	$5.46	$5.46	$5.65	$5.77	$5.03	$5.03
Book Value/Share	$38.76	$38.75	$41.57	$41.61	$42.01	$42.67	$38.36	$38.32	$38.31	$38.67	$43.92	$43.86	$43.84	$43.94	$47.66	$47.74	$47.88	$48.30	$52.92	$54.22	$53.73
Tangible Book/Share	$28.14	$28.13	$31.08	$31.12	$31.42	$31.91	$27.90	$27.87	$27.86	$28.12	$33.53	$33.48	$33.46	$33.54	$37.38	$37.44	$37.55	$37.88	$41.15	$42.15	$42.15
Revenue/Share	$15.33	$15.29	$15.25	$15.07	$15.19	$15.98	$16.85	$18.35	$20.04	$21.56	$21.79	$22.39	$22.70	$23.00	$23.66	$23.49	$23.38	$23.50	$23.95	$23.57	$23.57
FCF/Share	$7.10	$7.21	$6.37	$6.58	$7.68	$8.10	$9.33	$7.16	$6.20	$6.22	$5.43	$6.39	$6.25	$6.00	$7.11	$6.38	$6.61	$6.62	$6.21	$6.46	$6.46
OCF/Share	$7.39	$7.42	$6.63	$6.93	$8.07	$8.49	$9.66	$7.42	$6.53	$6.59	$5.72	$6.64	$6.37	$6.09	$7.23	$6.51	$6.77	$6.79	$6.43	$6.71	$6.71
Cash/Share	$88.58	$88.55	$127.05	$127.19	$128.41	$130.41	$73.94	$73.88	$73.85	$74.55	$70.47	$70.37	$70.34	$70.51	$77.08	$77.21	$77.44	$78.12	$6.68	$6.85	$8.87
EBITDA/Share	$5.54	$6.23	$6.95	$7.19	$7.77	$8.01	$8.09	$8.13	$8.06	$7.57	$6.19	$5.88	$5.84	$6.11	$7.11	$7.29	$7.30	$7.52	$7.78	$6.83	$6.83
Debt/Share	$24.53	$24.52	$23.01	$23.03	$23.25	$23.61	$25.59	$25.57	$25.55	$25.80	$17.51	$17.49	$17.48	$17.52	$11.17	$11.19	$11.22	$11.32	$15.88	$16.27	$16.27
Net Debt/Share	$-64.05	$-64.02	$-104.04	$-104.16	$-105.16	$-106.80	$-48.36	$-48.32	$-48.30	$-48.75	$-52.96	$-52.88	$-52.86	$-52.98	$-65.91	$-66.02	$-66.22	$-66.80	$9.20	$9.42	$9.42

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-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.542
Altman Z-Prime	snapshot only																				0.394
Piotroski F-Score	7	7	7	8	7	7	6	6	6	4	6	6	6	6	8	8	8	8	7	5	5
Beneish M-Score	-2.45	-1.99	-2.51	-2.42	-2.37	-2.33	-2.34	-2.30	-2.22	-2.28	-2.52	-2.14	-2.21	-2.23	-2.72	-2.77	-2.77	-2.76	-2.56	-2.57	-2.568
Ohlson O-Score	snapshot only																				-5.343
Net-Net WC	snapshot only																				$-375.40
EVA	snapshot only																				$-99092523.21

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																				A
Credit Score	59.75	67.95	68.08	68.37	80.81	80.74	75.43	65.21	63.38	63.42	76.91	77.15	76.96	77.22	87.37	86.93	87.17	87.71	79.09	73.80	73.805
Credit Grade	snapshot only																				6
Credit Trend	snapshot only																				-13.129
Implied Spread (bps)	snapshot only																				150.000
Industry Credit Rank	snapshot only																				69
Sector Credit Rank	snapshot only																				64

HWC NASDAQ

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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