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IOSP NASDAQ

Innospec Inc.
1W: +1.2% 1M: +0.5% 3M: +15.5% YTD: +15.1% 1Y: +22.3% 3Y: -3.9% 5Y: +18.6%
$99.92
+0.74 (+0.75%)
After Hours: $91.75 (-8.17, -8.17%)
Weekly Expected Move ±2.5%
$94 $96 $99 $101 $104
NASDAQ · Basic Materials · Chemicals - Specialty · Tech Score Strong Buy · Power 67 · $2.4B mcap · 24M float · 0.819% daily turnover · Short 55% of daily vol
Credit Risk of going bust: lower than 94% of companies Debt: 1.9% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.12 (down 99.9%), Innospec Inc. would be worth roughly what it owes.
Total debt $47.9M against a stock market value of $2.44B.
Distance to default 18.17 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $23.9M (short-term plus half of long-term), stock volatility 25.8%; Altman Z 5.50. 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.

WEAK EDGE
41.4 / 100
NoneWeakNarrowWide
Primary source: Cost Advantage  ·  ROIC: 11.2%  ·  5Y Avg: 11.2%
Cost Advantage ★
54
Intangibles
48
Switching Cost
33
Network Effect
19
Scale
50
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. IOSP shows a Weak competitive edge (41.4/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. ROIC of 11.2% 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
$110
Low
$110
Avg Target
$110
High
Based on 1 analyst since Aug 4, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 4Hold: 5Sell: 0Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$110.00
Analysts1
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-08-06 Seaport Global — $115 $110 -5 +18.5% $92.83
2025-04-21 Seaport Global — Initiated $115 — +32.6% $86.70

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.

A-
Oct 27, 2026
DCF
4
ROE
4
ROA
5
D/E
3
P/E
2
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. IOSP receives an overall rating of A-. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: P/E (2/5).
Rating Change History
DateFromTo
2026-10-09 B+ A-
2026-10-02 A- B+
2026-08-10 A A-
2026-08-05 A- A
2026-08-03 A A-
2026-06-30 A- A
2026-06-29 A A-
2026-06-16 A- A
2026-06-15 A A-
2026-05-14 A+ A

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.

★ ★ ★ ★ ★ 61 Grade A
Profitability
32
Balance Sheet
90
Earnings Quality
71
Growth
58
Value
77
Momentum
80
Safety
100
Cash Flow
46
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. IOSP scores highest in Safety (100/100) and lowest in Profitability (32/100). An overall grade of A places IOSP among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score
4.97
Safe Zone
Piotroski F-Score
8/9
✓ ✓ ✓ ✓ ✓ ✗ ✓ ✓ ✓
Beneish M-Score
-2.32
Unlikely Manipulator
Ohlson O-Score
-9.87
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AA+
Score: 93.0/100
Trend: Stable
Earnings Quality
100/100
OCF/NI: 1.03x
Accruals: -0.2%
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. IOSP scores 4.97, 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. IOSP scores 8/9, signaling strong financial health across all three dimensions. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. IOSP's score of -2.32 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. IOSP'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. IOSP receives an estimated rating of AA+ (score: 93.0/100), with a stable 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). IOSP'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
20.32x
PEG
-0.03x
P/S
1.33x
P/B
1.83x
P/FCF
30.98x
P/OCF
16.02x
EV/EBITDA
10.01x
EV/Revenue
0.98x
EV/EBIT
12.96x
EV/FCF
27.87x
Earnings Yield
6.04%
FCF Yield
3.23%
Shareholder Yield
3.40%
Graham Number
$77.56
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 20.3x earnings, IOSP commands a growth premium. An earnings yield of 6.0% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $77.56 per share, 28% 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
0.848
NI / EBT
×
Interest Burden
1.027
EBT / EBIT
×
EBIT Margin
0.076
EBIT / Rev
×
Asset Turnover
1.009
Rev / Assets
×
Equity Multiplier
1.384
Assets / Equity
=
ROE
9.2%
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. IOSP's ROE of 9.2% is driven by Asset Turnover (1.009), 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
15.00%
Fair P/E
38.50x
Intrinsic Value
$189.33
Price/Value
0.43x
Margin of Safety
57.01%
Premium
-57.01%
Assessment
Neutral
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with IOSP's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. IOSP trades at a -57% premium to its adjusted intrinsic value of $189.33, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 20.3x.

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
$99.92
Median 1Y
$97.13
5th Pctile
$57.30
95th Pctile
$164.16
Ann. Volatility
33.0%
Analyst Target
$110.00
25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

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

C-Suite Compensation

ExecutiveSalaryStockTotal
Mr. Patrick S.
Williams President and Chief Executive Officer
$1,380,548 $5,285,623 $8,252,747
Mr. Ian P.
Cleminson Executive Vice President and Chief Financial Officer
$541,147 $1,002,682 $1,973,947
Mr. David B.
Jones Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary
$425,040 $647,866 $1,403,214
Mr. Corbin Barnes
Senior Vice President, Corporate Development and Investor Relations
$342,736 $604,786 $1,203,085
Dr. Ian M.
McRobbie Senior Vice President and Chief Technology Officer
$309,649 $559,179 $1,121,198

CEO Pay Ratio

71:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $8,252,747
Avg Employee Cost (SGA/emp): $116,367
Employees: 2,450

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
2,450
0.0% YoY
Revenue / Employee
$725,714
Rev: $1,778,000,000
Profit / Employee
$47,592
NI: $116,600,000
SGA / Employee
$116,367
Avg labor cost proxy
R&D / Employee
$20,816
Innovation spend

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 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 9.6% 9.4% 10.5% 11.4% 12.6% 12.8% 12.1% 11.7% 11.5% 12.7% 13.0% 13.1% 12.1% 3.0% 2.2% 1.6% -0.1% 9.2% 8.8% 9.2% 9.21%
ROA 6.5% 6.3% 7.0% 7.5% 8.3% 8.4% 8.0% 7.8% 7.7% 8.4% 8.8% 9.0% 8.4% 2.1% 1.5% 1.1% -0.1% 6.5% 6.4% 6.7% 6.65%
ROIC 9.4% 9.9% 10.3% 11.4% 13.0% 14.4% 13.4% 12.7% 12.4% 13.0% 14.3% 13.8% 14.0% 15.9% 15.1% 15.8% 10.9% 11.7% 11.2% 11.2% 11.20%
ROCE 11.2% 11.0% 11.7% 11.9% 13.2% 15.2% 14.5% 14.0% 13.1% 12.5% 12.9% 13.3% 13.1% 13.2% 12.0% 11.1% 8.8% 9.5% 9.2% 9.4% 9.44%
Gross Margin 30.0% 27.3% 29.5% 29.9% 30.4% 29.7% 29.0% 31.3% 29.6% 31.5% 31.1% 29.2% 28.0% 29.2% 28.4% 28.0% 26.4% 28.0% 27.3% 28.1% 28.14%
Operating Margin 8.3% 8.6% 9.4% 9.9% 9.8% 9.1% 8.0% 7.1% 9.0% 9.0% 10.1% 9.4% 10.3% 8.8% 9.6% 7.8% 7.0% 10.3% 7.0% 8.1% 8.08%
Net Margin 6.2% 5.8% 7.7% 6.9% 7.5% 5.0% 6.5% 6.0% 8.4% 7.6% 8.3% 7.2% 7.5% -15.1% 7.4% 5.3% 2.9% 10.4% 6.7% 6.3% 6.27%
EBITDA Margin 11.0% 10.9% 11.6% 11.3% 11.7% 10.7% 10.2% 9.5% 11.5% 11.1% 12.7% 12.0% 13.3% 10.3% 12.2% 10.5% 5.3% 13.1% 11.0% 9.7% 9.73%
FCF Margin 3.4% 3.6% 0.3% -0.1% 1.8% 2.0% 3.8% 6.5% 7.4% 6.9% 10.3% 8.3% 9.4% 7.1% 4.7% 4.9% 2.6% 4.9% 4.3% 3.5% 3.52%
OCF Margin 6.0% 6.3% 2.6% 2.0% 3.9% 4.2% 6.6% 9.7% 10.9% 10.6% 13.7% 11.4% 12.3% 10.0% 7.4% 7.6% 5.7% 7.8% 7.1% 6.8% 6.81%
ROE 3Y Avg snapshot only 7.69%
ROE 5Y Avg snapshot only 9.10%
ROA 3Y Avg snapshot only 5.48%
ROIC 3Y Avg snapshot only 8.58%
ROIC Economic snapshot only 9.43%
Cash ROA snapshot only 6.80%
Cash ROIC snapshot only 11.00%
CROIC snapshot only 5.69%
NOPAT Margin snapshot only 6.94%
Pretax Margin snapshot only 7.78%
R&D / Revenue snapshot only 2.83%
SGA / Revenue snapshot only 16.50%
SBC / Revenue snapshot only 0.46%
Valuation
Metric Trend 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 21.35 22.75 20.49 19.53 15.43 18.41 18.84 19.07 19.35 21.45 21.21 20.16 19.19 75.99 86.21 107.80 -1582.34 16.30 15.89 16.55 20.319
P/S Ratio 1.42 1.43 1.35 1.31 1.09 1.25 1.22 1.20 1.25 1.53 1.61 1.59 1.47 1.47 1.30 1.16 1.06 1.07 1.01 1.09 1.334
P/B Ratio 1.97 2.05 2.04 2.12 1.86 2.36 2.27 2.21 2.18 2.60 2.64 2.53 2.22 2.23 1.85 1.61 1.46 1.43 1.35 1.50 1.830
P/FCF 41.53 39.15 505.97 -1193.35 60.88 62.13 31.90 18.42 16.78 22.23 15.57 19.24 15.59 20.70 27.58 23.94 41.19 21.60 23.62 30.98 30.985
P/OCF 23.73 22.72 52.43 64.60 28.12 29.96 18.44 12.35 11.50 14.39 11.74 13.97 11.94 14.66 17.61 15.21 18.51 13.75 14.22 16.02 16.023
EV/EBITDA 10.96 11.26 11.01 11.56 9.26 10.55 10.68 10.78 11.12 13.71 13.33 12.60 10.90 11.04 9.70 8.99 9.77 9.27 8.80 10.01 10.009
EV/Revenue 1.38 1.36 1.31 1.30 1.06 1.19 1.17 1.14 1.17 1.45 1.49 1.49 1.34 1.33 1.16 1.04 0.94 0.96 0.88 0.98 0.982
EV/EBIT 14.40 14.80 14.18 14.84 11.59 12.87 12.98 13.16 13.67 16.93 16.37 15.48 13.41 13.71 12.22 11.41 13.22 12.15 11.53 12.96 12.965
EV/FCF 40.35 37.19 491.27 -1181.72 59.23 59.55 30.62 17.50 15.66 21.05 14.44 18.02 14.13 18.83 24.55 21.44 36.38 19.30 20.52 27.87 27.868
Earnings Yield 4.7% 4.4% 4.9% 5.1% 6.5% 5.4% 5.3% 5.2% 5.2% 4.7% 4.7% 5.0% 5.2% 1.3% 1.2% 0.9% -0.1% 6.1% 6.3% 6.0% 6.04%
FCF Yield 2.4% 2.6% 0.2% -0.1% 1.6% 1.6% 3.1% 5.4% 6.0% 4.5% 6.4% 5.2% 6.4% 4.8% 3.6% 4.2% 2.4% 4.6% 4.2% 3.2% 3.23%
Price/Tangible Book snapshot only 2.285
EV/OCF snapshot only 14.411
EV/Gross Profit snapshot only 3.575
Acquirers Multiple snapshot only 12.082
Shareholder Yield snapshot only 3.40%
Graham Number snapshot only $77.56
Leverage & Solvency
Metric Trend 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 2.22 2.16 2.21 2.16 2.22 2.15 2.29 2.34 2.51 2.38 2.50 2.63 2.59 2.58 2.73 2.87 2.78 2.79 2.98 2.78 2.784
Quick Ratio 1.33 1.34 1.34 1.18 1.22 1.23 1.33 1.36 1.55 1.58 1.67 1.69 1.73 1.77 1.85 1.88 1.81 1.88 2.02 1.87 1.867
Debt/Equity 0.03 0.03 0.04 0.05 0.04 0.04 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.07 0.04 0.04 0.036
Net Debt/Equity -0.06 -0.10 -0.06 -0.02 -0.05 -0.10 -0.09 -0.11 -0.15 -0.14 -0.19 -0.16 -0.21 -0.20 -0.20 -0.17 -0.17 -0.15 -0.18 -0.15 -0.151
Debt/Assets 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.05 0.03 0.03 0.026
Debt/EBITDA 0.19 0.20 0.22 0.25 0.21 0.20 0.22 0.22 0.21 0.22 0.20 0.21 0.20 0.20 0.21 0.24 0.29 0.49 0.28 0.27 0.265
Net Debt/EBITDA -0.32 -0.59 -0.33 -0.11 -0.26 -0.46 -0.45 -0.56 -0.80 -0.77 -1.04 -0.86 -1.13 -1.10 -1.20 -1.05 -1.29 -1.11 -1.33 -1.12 -1.120
Interest Coverage 94.43 90.60 99.33 94.56 113.47 165.73 258.14 289.83 558.33 556.00 590.00 — — — — — — — — — —
Equity Multiplier 1.50 1.52 1.52 1.53 1.53 1.54 1.51 1.47 1.44 1.49 1.46 1.43 1.45 1.43 1.41 1.39 1.39 1.38 1.35 1.37 1.374
Cash Ratio snapshot only 0.680
Cash to Debt snapshot only 5.223
FCF to Debt snapshot only 1.355
Defensive Interval snapshot only 675.1 days
Efficiency & Turnover
Metric Trend 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 0.97 1.00 1.06 1.12 1.18 1.24 1.23 1.24 1.20 1.18 1.16 1.14 1.10 1.07 1.02 1.02 0.99 1.00 1.00 1.01 1.009
Inventory Turnover 3.77 4.21 4.30 4.00 4.02 4.23 4.17 3.92 3.86 4.03 4.00 3.93 4.03 4.33 4.11 3.94 3.88 4.08 4.08 3.96 3.964
Receivables Turnover 5.43 5.86 5.52 5.56 5.78 6.34 5.88 6.19 6.07 5.61 5.87 6.20 5.92 5.26 5.40 5.63 5.28 5.20 5.13 4.95 4.947
Payables Turnover 8.84 8.48 8.27 8.04 8.49 8.77 8.28 8.31 8.62 8.26 7.79 8.63 8.32 7.96 7.58 8.63 7.78 7.60 8.44 8.38 8.383
DSO 67 62 66 66 63 58 62 59 60 65 62 59 62 69 68 65 69 70 71 74 73.8 days
DIO 97 87 85 91 91 86 87 93 94 90 91 93 91 84 89 93 94 89 89 92 92.1 days
DPO 41 43 44 45 43 42 44 44 42 44 47 42 44 46 48 42 47 48 43 44 43.5 days
Cash Conversion Cycle 123 106 107 112 111 102 105 108 112 111 107 109 108 108 108 115 116 112 117 122 122.3 days
Fixed Asset Turnover snapshot only 5.399
Operating Cycle snapshot only 165.8 days
Cash Velocity snapshot only 7.363
Capital Intensity snapshot only 1.002
Growth (YoY)
Metric Trend 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 8.5% 24.3% 39.3% 36.2% 35.1% 32.4% 23.8% 16.4% 5.3% -0.8% -3.1% -5.9% -4.7% -5.3% -7.9% -5.5% -4.5% -3.7% 0.2% 2.9% 2.87%
Net Income 1.5% 2.2% 4.6% 43.2% 43.1% 42.9% 22.1% 8.8% -3.5% 4.6% 13.6% 18.4% 13.4% -74.4% -81.7% -87.1% -1.0% 2.3% 3.2% 5.3% 5.30%
EPS 1.5% 2.2% 4.6% 42.6% 42.6% 42.5% 22.1% 8.7% -3.7% 4.2% 13.1% 17.9% 13.0% -74.5% -81.7% -87.1% -1.0% 2.3% 3.3% 5.4% 5.38%
FCF -59.7% -53.4% -96.8% -1.0% -29.4% -27.2% 16.8% 69.8% 3.4% 2.4% 1.6% 19.8% 21.1% -2.6% -57.9% -44.5% -74.0% -32.7% -9.0% -25.3% -25.32%
EBITDA 69.2% 1.0% 1.7% 18.4% 22.5% 24.5% 14.4% 9.4% -3.3% -7.3% -1.0% 5.5% 11.5% 8.2% -1.7% -7.5% -25.2% -17.9% -16.2% -12.8% -12.83%
Op. Income 1.6% 2.9% 6.1% 41.4% 39.8% 41.8% 24.2% 9.1% -7.1% -13.7% -7.0% 3.3% 10.8% 10.1% -0.7% -7.9% -17.8% -12.9% -15.1% -8.4% -8.44%
OCF Growth snapshot only -8.26%
Asset Growth snapshot only 2.22%
Equity Growth snapshot only 3.71%
Debt Growth snapshot only -2.84%
Shares Change snapshot only -1.34%
Dividend Growth snapshot only 10.59%
Growth (CAGR)
Metric Trend 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 -1.3% 0.1% 2.4% 4.7% 7.1% 9.1% 10.1% 13.4% 15.6% 17.8% 18.7% 14.3% 10.7% 7.6% 3.4% 1.2% -1.4% -3.3% -3.6% -2.9% -2.93%
Revenue 5Y 9.1% 10.9% 10.9% 10.2% 9.4% 8.5% 7.8% 7.5% 6.5% 5.7% 5.2% 4.7% 4.3% 4.0% 3.6% 5.4% 7.0% 8.3% 9.1% 7.7% 7.72%
EPS 3Y 14.9% 2.6% 4.6% 7.6% 8.6% 5.5% 3.3% 31.5% 49.9% 68.6% 97.3% 22.3% 15.8% -27.6% -36.8% -45.1% — -4.1% -4.0% -0.9% -0.92%
EPS 5Y -0.1% 2.4% 5.6% 8.3% 7.8% 16.2% 13.8% 14.7% 15.8% 9.9% 9.6% 9.8% 6.9% -20.7% -25.6% -19.1% — 32.3% 43.1% 8.6% 8.56%
Net Income 3Y 15.4% 3.1% 5.1% 8.1% 9.0% 5.8% 3.6% 32.3% 50.5% 69.2% 97.9% 22.6% 16.1% -27.4% -36.7% -45.0% — -4.3% -4.2% -1.3% -1.28%
Net Income 5Y 0.2% 2.7% 5.9% 8.6% 8.2% 16.6% 14.2% 15.1% 16.2% 10.4% 10.0% 10.2% 7.2% -20.5% -25.4% -18.8% — 32.4% 43.1% 8.4% 8.42%
EBITDA 3Y -3.1% -2.5% -1.4% -0.8% 1.4% 3.2% 1.9% 20.1% 26.1% 33.1% 44.4% 11.0% 9.7% 7.7% 3.6% 2.2% -6.9% -6.3% -6.6% -5.2% -5.25%
EBITDA 5Y 4.8% 3.5% 4.6% 4.5% 4.4% 3.6% 2.7% 2.4% 1.5% 1.4% 1.6% 2.4% 2.4% 1.9% 0.6% 11.1% 10.8% 15.9% 19.9% 2.0% 1.96%
Gross Profit 3Y -1.1% -0.0% 1.8% 3.4% 5.6% 8.0% 8.8% 13.9% 16.6% 19.9% 22.0% 15.0% 10.8% 7.7% 2.7% 0.2% -2.9% -5.7% -6.2% -5.8% -5.83%
Gross Profit 5Y 4.8% 5.5% 6.4% 6.6% 7.2% 7.8% 7.4% 7.9% 6.6% 6.3% 6.0% 4.7% 3.9% 3.1% 2.1% 4.4% 6.3% 7.5% 8.3% 6.0% 5.96%
Op. Income 3Y -0.8% -0.4% 1.7% 3.0% 5.7% 7.7% 6.0% 35.2% 50.4% 68.6% 1.0% 16.8% 12.9% 10.4% 4.7% 1.3% -5.4% -6.1% -7.8% -4.5% -4.50%
Op. Income 5Y 3.2% 4.6% 6.9% 7.0% 7.3% 7.6% 6.8% 6.4% 4.9% 3.9% 4.0% 4.3% 4.0% 3.5% 1.9% 18.7% 25.4% 35.7% 47.0% 6.1% 6.09%
FCF 3Y -4.6% -10.2% -62.8% — -38.0% -32.9% -14.6% 8.7% 7.7% 4.9% 14.4% 15.9% 55.4% 34.2% 1.7% — 11.5% 30.7% 0.1% -20.8% -20.83%
FCF 5Y -13.0% -9.3% -40.5% — 6.9% -4.8% 1.7% 15.5% 21.9% 12.4% 19.2% 3.5% 4.8% 0.0% -7.3% -3.1% -17.0% -5.4% -10.5% -8.4% -8.41%
OCF 3Y 0.0% -3.9% -29.8% -40.6% -25.3% -20.3% -4.2% 14.3% 13.4% 12.4% 17.0% 16.8% 40.9% 25.6% 47.1% 57.4% 12.5% 19.2% -1.2% -13.7% -13.66%
OCF 5Y -6.2% -2.3% -11.9% -0.8% 6.4% -0.2% 5.7% 15.7% 20.9% 14.6% 17.2% 5.2% 6.0% 2.7% -2.6% 0.9% -6.8% -1.1% -5.1% -1.5% -1.49%
Assets 3Y -0.1% 2.2% 2.1% 3.2% 3.8% 3.0% 3.7% 6.4% 6.4% 6.9% 6.7% 5.2% 6.4% 3.4% 3.0% 3.3% 2.5% 4.5% 3.9% 4.7% 4.65%
Assets 5Y 7.4% 5.9% 5.8% 5.1% 4.9% 2.6% 2.0% 2.1% 1.6% 3.0% 2.6% 2.7% 3.8% 3.4% 4.0% 6.2% 6.0% 5.6% 5.0% 4.8% 4.78%
Equity 3Y 5.7% 7.7% 8.0% 7.4% 7.3% 4.2% 4.5% 6.7% 6.7% 6.7% 7.3% 7.0% 7.8% 5.5% 5.7% 6.6% 6.0% 8.5% 7.6% 7.1% 7.14%
Book Value 3Y 5.3% 7.3% 7.5% 7.0% 6.9% 3.9% 4.2% 6.1% 6.3% 6.3% 7.0% 6.7% 7.5% 5.1% 5.5% 6.5% 6.1% 8.7% 7.8% 7.5% 7.54%
Dividend 3Y 1.2% 3.6% 3.5% 3.9% 3.9% 3.0% 2.9% 2.5% 2.7% 3.1% 3.1% 3.2% 3.2% 3.1% 3.2% 3.1% 3.3% 3.2% 3.2% 3.3% 3.33%
Growth Quality
Metric Trend 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 0.42 0.41 0.40 0.54 0.52 0.42 0.40 0.53 0.57 0.52 0.49 0.54 0.58 0.57 0.51 0.55 0.51 0.43 0.40 0.41 0.409
Earnings Stability 0.05 0.00 0.00 0.27 0.16 0.18 0.12 0.61 0.48 0.28 0.23 0.71 0.52 0.00 0.00 0.00 0.00 0.09 0.06 0.01 0.006
Margin Stability 0.90 0.88 0.90 0.93 0.96 0.97 0.97 0.99 0.99 0.98 0.97 0.98 0.99 0.98 0.97 0.97 0.97 0.96 0.95 0.96 0.957
Rev. Growth Consistency 0.50 0.50 0.50 0.50 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.500
Earn. Growth Consistency 0.50 0.50 0.50 1.00 1.00 1.00 1.00 1.00 0.00 1.00 1.00 1.00 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.500
FCF Positive Streak 1 1 1 0 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence 0.50 0.50 0.50 0.83 0.83 0.83 0.91 0.96 0.99 0.98 0.95 0.93 0.95 0.50 0.50 0.50 0.20 0.50 0.50 0.50 0.500
Earnings Smoothness 0.15 0.00 0.00 0.65 0.65 0.65 0.80 0.92 0.96 0.96 0.87 0.83 0.87 0.00 0.00 0.00 — 0.00 0.00 0.00 0.000
ROE Trend 0.01 0.01 0.03 0.04 0.05 0.07 0.06 0.02 0.01 0.01 0.01 0.01 -0.00 -0.10 -0.10 -0.11 -0.12 0.01 0.01 0.02 0.020
Gross Margin Trend 0.00 -0.00 -0.00 -0.01 -0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.00 -0.01 -0.02 -0.02 -0.02 -0.02 -0.02 -0.02 -0.019
FCF Margin Trend -0.06 -0.06 -0.10 -0.08 -0.05 -0.05 -0.02 0.03 0.05 0.04 0.08 0.05 0.05 0.03 -0.02 -0.03 -0.06 -0.02 -0.03 -0.03 -0.030
Sustainable Growth Rate 6.8% 6.5% 7.6% 8.4% 9.7% 9.8% 9.1% 8.6% 8.4% 9.5% 9.9% 9.9% 9.0% -0.3% -1.0% -1.7% — 5.8% 5.5% 5.9% 5.85%
Internal Growth Rate 4.8% 4.5% 5.3% 5.9% 6.8% 6.8% 6.4% 6.1% 6.0% 6.7% 7.2% 7.3% 6.7% — — — — 4.3% 4.2% 4.4% 4.41%
Cash Flow Quality
Metric Trend 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 0.90 1.00 0.39 0.30 0.55 0.61 1.02 1.54 1.68 1.49 1.81 1.44 1.61 5.18 4.90 7.09 -85.50 1.19 1.12 1.03 1.033
FCF/OCF 0.57 0.58 0.10 -0.05 0.46 0.48 0.58 0.67 0.69 0.65 0.75 0.73 0.77 0.71 0.64 0.64 0.45 0.64 0.60 0.52 0.517
FCF/Net Income snapshot only 0.534
OCF/EBITDA snapshot only 0.695
CapEx/Revenue 2.6% 2.6% 2.3% 2.1% 2.1% 2.2% 2.8% 3.2% 3.4% 3.8% 3.4% 3.1% 2.9% 2.9% 2.7% 2.8% 3.2% 2.8% 2.8% 3.3% 3.29%
CapEx/Depreciation snapshot only 1.471
Accruals Ratio 0.01 -0.00 0.04 0.05 0.04 0.03 -0.00 -0.04 -0.05 -0.04 -0.07 -0.04 -0.05 -0.09 -0.06 -0.07 -0.06 -0.01 -0.01 -0.00 -0.002
Sloan Accruals snapshot only -0.009
Cash Flow Adequacy snapshot only 1.196
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend 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 1.4% 1.4% 1.3% 1.3% 1.5% 1.3% 1.3% 1.4% 1.4% 1.2% 1.1% 1.2% 1.3% 1.4% 1.7% 2.0% 2.1% 2.2% 2.3% 2.2% 1.79%
Dividend/Share $1.08 $1.16 $1.15 $1.22 $1.22 $1.27 $1.27 $1.33 $1.33 $1.40 $1.40 $1.47 $1.47 $1.54 $1.55 $1.62 $1.63 $1.71 $1.71 $1.79 $1.79
Payout Ratio 29.2% 30.9% 27.1% 26.2% 23.1% 23.8% 24.4% 26.4% 26.3% 25.2% 23.8% 24.7% 25.7% 1.1% 1.4% 2.1% — 36.4% 37.1% 36.5% 36.46%
FCF Payout Ratio 56.8% 53.2% 6.7% — 91.3% 80.5% 41.4% 25.5% 22.8% 26.2% 17.5% 23.5% 20.8% 29.7% 46.0% 46.7% 88.1% 48.2% 55.2% 68.3% 68.26%
Total Payout Ratio 30.1% 31.8% 28.2% 28.5% 26.9% 28.3% 28.5% 29.7% 27.8% 26.0% 24.6% 25.2% 26.2% 1.1% 1.6% 2.8% — 56.9% 60.1% 56.3% 56.30%
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 0.06 0.14 0.14 0.15 0.15 0.11 0.11 0.11 0.11 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.12 0.11 0.113
Buyback Yield 0.0% 0.0% 0.1% 0.1% 0.2% 0.2% 0.2% 0.2% 0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.2% 0.6% 1.3% 1.3% 1.4% 1.2% 1.20%
Net Buyback Yield 0.0% 0.0% -0.0% 0.0% 0.1% 0.2% 0.2% 0.1% 0.0% 0.0% 0.0% -0.0% -0.0% -0.0% 0.2% 0.6% 1.2% 1.2% 1.4% 1.2% 1.19%
Total Shareholder Return 1.4% 1.4% 1.3% 1.4% 1.6% 1.4% 1.5% 1.5% 1.4% 1.2% 1.1% 1.2% 1.3% 1.4% 1.8% 2.5% 3.3% 3.5% 3.8% 3.4% 3.39%
DuPont Factors
Metric Trend 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) 0.70 0.69 0.70 0.75 0.76 0.72 0.71 0.72 0.73 0.80 0.80 0.78 0.76 0.86 0.89 1.04 0.08 0.84 0.85 0.85 0.848
Interest Burden (EBT/EBIT) 0.99 0.99 1.02 1.02 1.01 1.01 1.00 1.01 1.04 1.05 1.04 1.05 1.01 0.23 0.18 0.11 -0.12 0.99 0.98 1.03 1.027
EBIT Margin 0.10 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.10 0.10 0.10 0.09 0.09 0.07 0.08 0.08 0.08 0.076
Asset Turnover 0.97 1.00 1.06 1.12 1.18 1.24 1.23 1.24 1.20 1.18 1.16 1.14 1.10 1.07 1.02 1.02 0.99 1.00 1.00 1.01 1.009
Equity Multiplier 1.48 1.50 1.50 1.52 1.52 1.53 1.51 1.50 1.48 1.52 1.48 1.45 1.44 1.46 1.44 1.41 1.42 1.41 1.38 1.38 1.384
Per Share
Metric Trend 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) $3.69 $3.74 $4.26 $4.65 $5.26 $5.33 $5.20 $5.06 $5.07 $5.55 $5.88 $5.96 $5.73 $1.42 $1.08 $0.77 $-0.05 $4.69 $4.60 $4.92 $4.92
Book Value/Share $39.92 $41.48 $42.80 $42.77 $43.64 $41.59 $43.19 $43.72 $45.01 $45.80 $47.22 $47.52 $49.54 $48.23 $50.20 $51.73 $52.07 $53.39 $54.14 $54.37 $54.82
Tangible Book/Share $22.71 $24.53 $26.17 $26.54 $27.80 $25.41 $26.88 $27.42 $28.78 $27.57 $29.06 $29.61 $31.37 $30.39 $31.82 $32.73 $33.48 $34.60 $35.30 $35.61 $35.61
Revenue/Share $55.54 $59.60 $64.76 $69.25 $74.75 $78.68 $80.16 $80.61 $78.57 $77.82 $77.37 $75.47 $74.63 $73.48 $71.15 $71.51 $71.83 $71.59 $72.07 $74.56 $74.75
FCF/Share $1.90 $2.17 $0.17 $-0.08 $1.33 $1.58 $3.07 $5.24 $5.85 $5.36 $8.00 $6.24 $7.05 $5.20 $3.36 $3.47 $1.85 $3.54 $3.09 $2.63 $2.63
OCF/Share $3.32 $3.74 $1.66 $1.41 $2.89 $3.27 $5.31 $7.81 $8.53 $8.28 $10.62 $8.60 $9.21 $7.35 $5.27 $5.46 $4.12 $5.57 $5.14 $5.08 $5.09
Cash/Share $3.59 $5.70 $4.23 $2.86 $4.03 $5.89 $5.91 $6.64 $8.29 $8.13 $10.78 $9.57 $12.10 $11.52 $11.94 $10.65 $10.87 $11.78 $11.64 $10.13 $10.15
EBITDA/Share $6.99 $7.18 $7.69 $7.78 $8.53 $8.91 $8.80 $8.50 $8.23 $8.23 $8.67 $8.93 $9.14 $8.88 $8.51 $8.28 $6.89 $7.37 $7.20 $7.31 $7.31
Debt/Share $1.35 $1.43 $1.70 $1.97 $1.83 $1.82 $1.96 $1.84 $1.70 $1.80 $1.74 $1.92 $1.82 $1.79 $1.77 $1.97 $1.97 $3.60 $2.04 $1.94 $1.94
Net Debt/Share $-2.24 $-4.27 $-2.53 $-0.89 $-2.20 $-4.08 $-3.95 $-4.80 $-6.59 $-6.33 $-9.04 $-7.65 $-10.28 $-9.73 $-10.17 $-8.68 $-8.90 $-8.17 $-9.60 $-8.19 $-8.19
Academic Models
Metric Trend 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 — — — — — — — — — — — — — — — — — — — — 4.973
Altman Z-Prime snapshot only 9.114
Piotroski F-Score 6 6 4 4 6 5 6 8 6 7 7 6 6 5 5 6 4 6 6 8 8
Beneish M-Score -2.06 -2.17 -1.95 -2.03 -2.15 -2.31 -2.55 -2.90 -2.88 -2.61 -2.87 -2.58 -2.55 -2.90 -2.61 -2.67 -2.70 -2.46 -2.48 -2.32 -2.319
Ohlson O-Score snapshot only -9.866
ROIC (Greenblatt) snapshot only 13.98%
Net-Net WC snapshot only $21.43
EVA snapshot only $13652107.47
Credit
Metric Trend 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 94.88 95.08 89.61 87.17 95.32 95.84 95.33 95.62 95.19 95.36 95.43 92.86 92.44 92.90 92.66 93.05 92.72 93.16 93.13 92.98 92.983
Credit Grade snapshot only 2
Credit Trend snapshot only -0.070
Implied Spread (bps) snapshot only 65.000
Industry Credit Rank snapshot only 85
Sector Credit Rank snapshot only 92

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