— Know what they know.
Not Investment Advice
Also trades as: MFT.NZ (NZE) · $vol 2M

MFGHF OTC

Mainfreight Limited
1W: -2.4% 1M: -2.4% 3M: +6.5% YTD: -3.3% 1Y: +20.9% 3Y: +11.1% 5Y: -34.7%
$39.65
+0.00 (+0.00%)
 
OTC · Industrials · Integrated Freight & Logistics · Tech Score Sell · Power 44 · $4.0B mcap · 81M float · 0.0001% daily turnover · Short 80% of daily vol

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.

B+
Oct 02, 2026
DCF
4
ROE
4
ROA
5
D/E
1
P/E
2
P/B
2
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. MFGHF receives an overall rating of B+. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (2/5).
Rating Change History
DateFromTo
2026-10-03 None ADDED
2026-10-03 EXISTED None
2026-09-29 None ADDED
2026-09-29 EXISTED None
2026-09-23 None ADDED
2026-09-23 EXISTED None
2026-09-19 None ADDED
2026-09-19 EXISTED None
2026-09-15 None ADDED
2026-09-13 EXISTED None

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.

★ ★ ★ ★ ★ — Grade B
Profitability
48
Balance Sheet
67
Earnings Quality
60
Growth
31
Value
—
Momentum
61
Safety
—
Cash Flow
53

Risk & Quality Signals

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

Altman Z-Score
—
—
Piotroski F-Score
4/9
✓ ✓ ✗ ✓ ✗ ✗ ✓ ✗ ✗
Beneish M-Score
-2.69
Unlikely Manipulator
Ohlson O-Score
-8.36
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
A
Score: 72.1/100
Trend: Deteriorating
Earnings Quality
75/100
OCF/NI: 2.23x
Accruals: -15.8%
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. MFGHF scores 4/9, 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. MFGHF's score of -2.69 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. MFGHF'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. MFGHF receives an estimated rating of A (score: 72.1/100), 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). MFGHF's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

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

P/E
26.02x
PEG
-3.09x
P/S
1.22x
P/B
3.06x
P/FCF
—
P/OCF
—
EV/EBITDA
—
EV/Revenue
—
EV/EBIT
—
EV/FCF
—
Earnings Yield
—
FCF Yield
—
Shareholder Yield
—
Graham Number
$50.24
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 26.0x earnings, MFGHF commands a growth premium. Graham's intrinsic value formula yields $50.24 per share, suggesting a potential 27% 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
0.715
NI / EBT
×
Interest Burden
0.721
EBT / EBIT
×
EBIT Margin
0.096
EBIT / Rev
×
Asset Turnover
2.584
Rev / Assets
×
Equity Multiplier
2.048
Assets / Equity
=
ROE
26.2%
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. MFGHF's ROE of 26.2% is driven by Asset Turnover (2.584), 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
$201.18
Price/Value
—
Margin of Safety
—
Premium
—
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with MFGHF's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. MFGHF actually compounded EPS at 21.0% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. MFGHF trades at a premium to its adjusted intrinsic value of $201.18, 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 26.0x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price
$39.65
Median 1Y
$40.33
5th Pctile
$22.98
95th Pctile
$71.20
Ann. Volatility
31.8%
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 Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
ROE 33.2% 32.8% 32.7% 32.3% 32.9% 33.1% 33.9% 35.4% 35.9% 35.6% 40.3% 45.4% 51.7% 55.0% 52.0% 38.7% 30.1% 26.0% 23.7% 26.2% 26.20%
ROA 15.4% 15.7% 15.2% 15.8% 16.4% 17.6% 14.9% 16.1% 16.8% 17.4% 17.5% 20.4% 24.0% 26.4% 25.5% 18.7% 14.3% 12.9% 11.8% 12.8% 12.79%
ROIC 22.9% 23.7% 24.1% 24.9% 25.2% 27.2% 17.2% 18.6% 20.5% 21.3% 23.8% 28.1% 29.8% 34.2% 30.9% 31.0% 32.2% 29.8% 27.9% 24.4% 24.40%
ROCE 29.3% 30.2% 37.6% 38.0% 37.9% 39.4% 23.9% 24.5% 26.8% 27.9% 31.9% 37.4% 39.2% 43.6% 41.5% 40.7% 40.2% 37.5% 35.8% 29.8% 29.81%
Gross Margin 14.6% 16.1% 14.3% 16.1% 13.9% 16.4% 12.8% 16.2% 13.3% 14.6% 13.5% 15.8% 15.9% 18.4% 16.1% 24.2% 20.3% 16.2% 14.0% 16.8% 16.76%
Operating Margin 5.7% 7.5% 5.4% 7.3% 5.7% 8.0% 6.3% 8.4% 7.0% 8.8% 8.4% 10.8% 10.4% 11.2% 8.0% 24.2% 20.3% 9.2% 6.1% 9.0% 8.98%
Net Margin 3.7% 5.0% 3.4% 4.7% 3.9% 5.4% 3.9% 6.3% 4.5% 6.0% 5.8% 7.6% 7.2% 7.8% 5.3% 3.6% 4.5% 6.0% 3.6% 5.7% 5.67%
EBITDA Margin 7.6% 8.5% 14.3% 17.4% 7.6% 8.8% 8.2% 13.7% 12.7% 13.5% 12.6% 14.4% 14.1% 16.0% 13.6% 18.7% 16.4% 15.7% 12.7% 15.5% 15.46%
FCF Margin 2.0% 2.6% 3.5% 3.5% 3.4% 3.6% 2.5% 4.1% 5.5% 6.0% 6.7% 6.4% 5.4% 6.8% 6.5% 6.5% 6.4% 4.6% 5.1% 5.9% 5.88%
OCF Margin 5.8% 5.7% 5.8% 5.5% 5.5% 6.1% 6.1% 8.2% 9.9% 10.2% 10.5% 10.0% 9.7% 11.6% 11.6% 12.1% 11.7% 10.9% 10.9% 11.1% 11.07%
ROE 3Y Avg snapshot only 32.21%
ROE 5Y Avg snapshot only 31.34%
ROA 3Y Avg snapshot only 15.53%
ROIC 3Y Avg snapshot only 21.32%
ROIC Economic snapshot only 24.40%
Cash ROA snapshot only 26.46%
Cash ROIC snapshot only 34.17%
CROIC snapshot only 18.16%
NOPAT Margin snapshot only 7.90%
Pretax Margin snapshot only 6.92%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 5.76%
SBC / Revenue snapshot only 0.00%
Valuation
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
P/E Ratio — — — — — — — — — — — — — — — — — — — — 26.020
P/S Ratio — — — — — — — — — — — — — — — — — — — — 1.217
P/B Ratio — — — — — — — — — — — — — — — — — — — — 3.061
P/FCF — — — — — — — — — — — — — — — — — — — — —
P/OCF — — — — — — — — — — — — — — — — — — — — —
EV/EBITDA — — — — — — — — — — — — — — — — — — — — —
EV/Revenue — — — — — — — — — — — — — — — — — — — — —
EV/EBIT — — — — — — — — — — — — — — — — — — — — —
EV/FCF — — — — — — — — — — — — — — — — — — — — —
Earnings Yield — — — — — — — — — — — — — — — — — — — — —
FCF Yield — — — — — — — — — — — — — — — — — — — — —
Graham Number snapshot only $50.24
Leverage & Solvency
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Current Ratio 1.37 1.35 1.32 1.41 1.39 1.40 1.11 1.10 1.08 1.08 1.11 1.17 1.28 1.22 1.18 1.14 1.14 1.08 1.08 1.00 1.003
Quick Ratio 1.37 1.35 1.32 1.41 1.39 1.54 1.23 1.10 1.08 1.08 1.11 1.17 1.38 1.20 1.18 1.14 1.14 1.08 1.08 1.00 1.003
Debt/Equity 0.53 0.45 0.43 0.39 0.37 0.29 1.00 0.93 0.84 0.74 0.70 0.57 0.61 0.58 0.60 0.66 0.73 0.68 0.70 0.67 0.668
Net Debt/Equity 0.40 0.33 0.33 0.28 0.26 0.16 0.88 0.81 0.71 0.62 0.59 0.43 0.45 0.38 0.47 0.54 0.65 0.59 0.63 0.59 0.592
Debt/Assets 0.25 0.22 0.22 0.20 0.19 0.16 0.40 0.39 0.37 0.33 0.32 0.27 0.29 0.29 0.31 0.32 0.34 0.33 0.34 0.32 0.325
Debt/EBITDA 0.93 0.81 0.63 0.46 0.45 0.37 1.45 1.54 1.23 1.02 0.86 0.69 0.72 0.64 0.67 0.75 0.85 0.84 0.88 0.90 0.902
Net Debt/EBITDA 0.70 0.60 0.48 0.33 0.31 0.20 1.28 1.34 1.04 0.85 0.73 0.52 0.54 0.42 0.52 0.62 0.76 0.73 0.79 0.80 0.800
Interest Coverage — — — — — — — — — — — — 88.34 45.55 29.99 15.83 13.92 11.97 10.15 9.48 9.479
Equity Multiplier 2.08 1.99 1.99 1.93 1.96 1.79 2.49 2.38 2.27 2.23 2.17 2.12 2.09 1.99 1.95 2.04 2.11 2.04 2.06 2.06 2.056
Cash Ratio snapshot only 0.160
Debt Service Coverage snapshot only 14.878
Cash to Debt snapshot only 0.113
FCF to Debt snapshot only 0.433
Defensive Interval snapshot only 612.4 days
Efficiency & Turnover
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Asset Turnover 3.87 3.83 3.63 3.73 3.84 4.00 3.32 3.29 3.34 3.33 3.09 3.29 3.54 3.67 3.61 3.05 2.67 2.65 2.66 2.58 2.584
Inventory Turnover — — — — — — — — — — — — — 816.60 — — — 718.48 — — —
Receivables Turnover 15.00 15.90 14.24 15.11 14.22 15.82 19.66 15.46 18.06 15.11 21.85 14.29 27.80 19.65 27.92 14.63 16.65 15.80 17.99 15.51 15.507
Payables Turnover 15.29 15.97 13.71 15.03 14.48 16.39 15.87 16.23 15.24 15.64 16.01 16.62 17.77 20.20 19.35 16.02 13.96 16.00 15.98 16.21 16.205
DSO 24 23 26 24 26 23 19 24 20 24 17 26 13 19 13 25 22 23 20 24 23.5 days
DIO 0 0 0 0 0 -2 -2 0 0 -2 -2 0 -2 0 0 0 -2 1 0 0 0.0 days
DPO 24 23 27 24 25 22 23 22 24 23 23 22 21 18 19 23 26 23 23 23 22.5 days
Cash Conversion Cycle 0 0 -1 -0 0 -1 -7 1 -4 -1 -8 4 -9 1 -6 2 -6 1 -3 1 1.0 days
Fixed Asset Turnover snapshot only 3.420
Cash Velocity snapshot only 64.879
Capital Intensity snapshot only 0.418
Growth (YoY)
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Revenue 54.4% 16.1% 14.3% 14.1% 16.6% 20.6% 23.6% 22.2% 18.9% 19.2% 26.8% 44.9% 63.1% 64.1% 48.1% 18.6% -2.1% -8.6% -7.2% 2.3% 2.26%
Net Income 44.8% 9.9% 21.7% 23.1% 25.1% 29.7% 32.1% 41.9% 40.8% 41.6% 59.8% 83.1% 1.2% 1.3% 85.1% 16.9% -22.5% -38.2% -41.8% -17.1% -17.15%
EPS 43.7% 9.1% 20.8% 22.1% 24.7% 29.7% 32.1% 41.9% 40.8% 41.6% 59.8% 83.1% 1.2% 1.3% 85.1% 16.9% -22.5% -38.2% -41.8% -17.1% -17.15%
FCF 3.2% 1.8% 9.0% 4.8% 1.0% 62.3% -11.6% 45.4% 90.5% 99.0% 2.4% 1.3% 58.6% 88.4% 42.2% 20.0% 16.3% -38.9% -26.7% -7.8% -7.82%
EBITDA 60.1% 18.8% 49.7% 87.8% 84.8% 86.4% 32.5% -3.4% 8.5% 22.3% 59.7% 1.0% 1.1% 93.3% 64.4% 36.9% 15.2% 2.4% 0.7% -0.7% -0.71%
Op. Income 62.6% 18.2% 21.2% 22.2% 23.0% 28.4% 32.2% 34.7% 37.0% 38.2% 52.6% 83.5% 1.1% 1.2% 83.1% 72.5% 58.4% 35.6% 33.5% -14.3% -14.33%
OCF Growth snapshot only -6.81%
Asset Growth snapshot only 17.55%
Equity Growth snapshot only 16.56%
Debt Growth snapshot only 18.71%
Shares Change snapshot only 0.00%
Dividend Growth snapshot only -12.28%
Growth (CAGR)
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Revenue 3Y — — — — — — 83.1% 46.5% 28.8% 18.6% 21.4% 26.4% 31.2% 33.1% 32.4% 28.1% 23.8% 21.4% 20.3% 20.7% 20.67%
Revenue 5Y — — — — — — — — — — — — — — 63.0% 40.1% 27.8% 20.1% 19.7% 19.6% 19.63%
EPS 3Y — — — — — — 84.1% 47.9% 36.1% 26.1% 36.6% 46.9% 56.6% 60.5% 57.5% 44.8% 33.7% 25.3% 19.8% 21.0% 21.03%
EPS 5Y — — — — — — — — — — — — — — 79.2% 47.2% 33.7% 22.8% 22.4% 25.2% 25.15%
Net Income 3Y — — — — — — 84.4% 49.1% 36.6% 26.4% 37.0% 47.3% 56.8% 60.5% 57.5% 44.8% 33.7% 25.3% 19.8% 21.0% 21.03%
Net Income 5Y — — — — — — — — — — — — — — 79.3% 47.9% 34.0% 22.9% 22.6% 25.4% 25.35%
EBITDA 3Y — — — — — — 1.1% 59.9% 47.5% 39.4% 46.9% 54.1% 60.2% 64.0% 51.6% 38.6% 36.9% 34.3% 38.3% 39.9% 39.93%
EBITDA 5Y — — — — — — — — — — — — — — 90.8% 62.4% 50.0% 39.9% 39.3% 37.8% 37.81%
Gross Profit 3Y — — — — — — 88.5% 46.9% 29.4% 17.0% 20.2% 25.4% 31.7% 35.9% 36.1% 36.3% 35.4% 31.0% 29.7% 25.7% 25.70%
Gross Profit 5Y — — — — — — — — — — — — — — 69.6% 46.6% 35.9% 26.3% 25.3% 22.6% 22.63%
Op. Income 3Y — — — — — — 1.0% 54.7% 39.9% 28.0% 34.7% 44.6% 53.4% 57.2% 54.6% 62.2% 66.9% 60.0% 55.1% 39.5% 39.46%
Op. Income 5Y — — — — — — — — — — — — — — 88.4% 63.6% 56.2% 44.1% 43.0% 34.9% 34.90%
FCF 3Y — — — — — — 1.0% 69.1% 1.5% 1.1% 2.1% 1.7% 82.3% 82.6% 62.3% 57.9% 52.0% 31.9% 52.4% 35.6% 35.62%
FCF 5Y — — — — — — — — — — — — — — 1.1% 67.2% 97.1% 60.3% 99.1% 83.7% 83.69%
OCF 3Y — — — — — — 1.0% 60.6% 58.1% 42.5% 48.8% 53.4% 55.7% 68.9% 67.0% 66.9% 58.8% 47.8% 46.3% 33.1% 33.15%
OCF 5Y — — — — — — — — — — — — — — 97.1% 60.0% 49.5% 36.0% 36.2% 37.0% 36.97%
Assets 3Y — — — — — — 32.0% 33.2% 28.1% 30.3% 26.1% 33.3% 40.7% 38.9% 38.5% 40.1% 38.9% 39.4% 23.7% 24.5% 24.47%
Assets 5Y — — — — — — — — — — — — — — 29.5% 31.1% 29.8% 29.4% 26.4% 28.3% 28.30%
Equity 3Y — — — — — — 29.1% 29.8% 27.9% 29.9% 29.5% 34.8% 40.4% 38.8% 39.2% 37.6% 35.5% 33.5% 31.7% 30.8% 30.78%
Book Value 3Y — — — — — — 28.9% 28.7% 27.5% 29.6% 29.2% 34.4% 40.3% 38.8% 39.2% 37.6% 35.5% 33.5% 31.7% 30.8% 30.78%
Dividend 3Y — — — — — — 8.9% 8.0% 9.8% 10.3% 9.6% 15.0% 23.4% 30.3% 32.8% 28.0% 16.6% 3.5% -1.4% -4.3% -4.28%
Growth Quality
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Revenue Stability — — 0.86 0.89 0.96 0.99 0.88 0.92 0.97 0.99 0.96 0.90 0.85 0.86 0.97 0.98 0.91 0.84 0.88 0.94 0.944
Earnings Stability — — 0.91 0.96 1.00 0.91 0.94 0.98 0.98 0.90 0.95 0.88 0.79 0.74 0.86 0.93 0.78 0.62 0.62 0.81 0.814
Margin Stability — — 0.94 0.98 0.98 0.99 0.95 0.98 0.98 0.97 0.98 0.98 0.99 0.95 0.93 0.89 0.86 0.88 0.89 0.89 0.893
Rev. Growth Consistency 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 0.00 0.00 0.00 1.00 1.000
Earn. Growth Consistency 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 0.00 0.00 0.00 0.00 0.000
FCF Positive Streak 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Earnings Persistence — — 0.91 0.91 0.90 0.88 0.87 0.83 0.84 0.83 0.50 0.50 0.50 0.50 0.50 0.93 0.91 0.85 0.83 0.93 0.931
Earnings Smoothness 0.63 0.91 0.80 0.79 0.78 0.74 0.72 0.65 0.66 0.66 0.54 0.41 0.25 0.23 0.40 0.84 0.75 0.53 0.47 0.81 0.812
ROE Trend — — 0.10 0.05 0.02 -0.02 -0.00 0.01 0.02 0.02 0.05 0.08 0.11 0.15 0.11 -0.00 -0.08 -0.14 -0.17 -0.12 -0.118
Gross Margin Trend — — 0.01 0.01 0.00 0.00 -0.00 -0.00 -0.00 -0.01 -0.01 -0.01 0.00 0.01 0.02 0.04 0.05 0.04 0.03 0.00 0.003
FCF Margin Trend — — 0.02 0.02 0.02 0.02 0.01 0.02 0.03 0.03 0.04 0.03 0.01 0.02 0.02 0.01 0.01 -0.02 -0.01 -0.01 -0.006
Sustainable Growth Rate 20.0% 19.9% 19.8% 19.4% 20.1% 20.7% 20.8% 22.5% 22.7% 22.9% 27.3% 31.6% 35.3% 35.7% 30.8% 17.6% 10.5% 9.6% 7.8% 11.1% 11.07%
Internal Growth Rate 10.2% 10.6% 10.1% 10.5% 11.1% 12.4% 10.0% 11.4% 11.9% 12.6% 13.4% 16.5% 19.6% 20.7% 17.8% 9.3% 5.3% 5.0% 4.0% 5.7% 5.72%
Cash Flow Quality
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
OCF/Net Income 1.46 1.38 1.37 1.30 1.30 1.38 1.35 1.68 1.96 1.95 1.87 1.62 1.43 1.61 1.64 1.99 2.18 2.26 2.46 2.23 2.235
FCF/OCF 0.35 0.47 0.61 0.63 0.62 0.59 0.41 0.50 0.56 0.58 0.64 0.64 0.56 0.59 0.56 0.54 0.55 0.42 0.47 0.53 0.531
FCF/Net Income snapshot only 1.188
OCF/EBITDA snapshot only 0.735
CapEx/Revenue 3.8% 3.0% 2.3% 2.0% 2.1% 2.5% 3.6% 4.1% 4.4% 4.2% 3.8% 3.6% 4.3% 4.7% 5.1% 5.6% 5.3% 4.4% 3.9% 3.3% 3.34%
CapEx/Depreciation snapshot only 0.610
Accruals Ratio -0.07 -0.06 -0.06 -0.05 -0.05 -0.07 -0.05 -0.11 -0.16 -0.17 -0.15 -0.13 -0.10 -0.16 -0.16 -0.18 -0.17 -0.16 -0.17 -0.16 -0.158
Sloan Accruals snapshot only -0.167
Cash Flow Adequacy snapshot only 1.786
Earnings Quality Score snapshot only 0.750
Dividends & Buybacks
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Dividend Yield — — — — — — — — — — — — — — — — — — — — 2.87%
Dividend/Share $0.71 $0.74 $0.78 $0.83 $0.86 $0.91 $1.01 $1.07 $1.15 $1.23 $1.34 $1.64 $2.17 $2.72 $3.14 $3.44 $3.44 $3.02 $3.01 $3.02 $1.87
Payout Ratio 39.8% 39.2% 39.5% 40.0% 38.8% 37.4% 38.8% 36.3% 36.9% 35.7% 32.2% 30.4% 31.8% 35.0% 40.8% 54.5% 65.0% 62.9% 67.2% 57.7% 57.74%
FCF Payout Ratio 78.8% 60.6% 47.3% 48.5% 48.0% 46.2% 69.4% 43.0% 33.7% 31.4% 27.1% 29.2% 40.1% 36.8% 44.7% 51.1% 54.6% 66.7% 58.4% 48.6% 48.62%
Total Payout Ratio 39.8% 39.2% 39.5% 40.0% 38.8% 37.4% 38.8% 36.3% 36.9% 35.7% 32.2% 30.4% 31.8% 35.0% 40.8% 54.5% 65.0% 62.9% 67.2% 57.7% 57.74%
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 — — — — — — — — — — — — — — — — — — — — —
Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Net Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Total Shareholder Return — — — — — — — — — — — — — — — — — — — — —
DuPont Factors
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Tax Burden (NI/EBT) 0.70 0.70 0.70 0.70 0.71 0.71 0.71 0.75 0.75 0.75 0.74 0.72 0.72 0.73 0.73 0.65 0.63 0.62 0.61 0.72 0.715
Interest Burden (EBT/EBIT) 0.93 0.93 0.77 0.77 0.78 0.79 0.92 0.92 0.91 0.91 0.93 0.95 0.96 0.96 0.96 0.81 0.67 0.65 0.62 0.72 0.721
EBIT Margin 0.06 0.06 0.08 0.08 0.08 0.08 0.07 0.07 0.07 0.08 0.08 0.09 0.10 0.10 0.10 0.12 0.13 0.12 0.12 0.10 0.096
Asset Turnover 3.87 3.83 3.63 3.73 3.84 4.00 3.32 3.29 3.34 3.33 3.09 3.29 3.54 3.67 3.61 3.05 2.67 2.65 2.66 2.58 2.584
Equity Multiplier 2.16 2.09 2.15 2.05 2.01 1.88 2.28 2.19 2.13 2.04 2.31 2.23 2.16 2.09 2.04 2.07 2.10 2.02 2.01 2.05 2.048
Per Share
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
EPS (Diluted TTM) $1.78 $1.88 $1.97 $2.08 $2.22 $2.44 $2.60 $2.95 $3.12 $3.45 $4.16 $5.40 $6.83 $7.76 $7.70 $6.31 $5.29 $4.80 $4.48 $5.23 $5.23
Book Value/Share $5.98 $6.41 $6.58 $7.08 $7.49 $8.32 $8.77 $9.60 $9.89 $11.07 $11.87 $14.19 $16.50 $17.15 $17.75 $18.42 $18.62 $19.81 $20.05 $21.47 $21.25
Tangible Book/Share $3.38 $3.78 $3.89 $4.35 $4.68 $5.64 $3.82 $6.77 $7.17 $8.45 $9.20 $11.63 $13.73 $14.42 $14.94 $15.58 $15.79 $16.89 $17.11 $18.46 $18.46
Revenue/Share $44.77 $45.83 $46.96 $49.15 $52.02 $55.31 $58.04 $60.06 $61.83 $65.92 $73.61 $87.01 $100.86 $108.18 $108.98 $103.21 $98.73 $98.85 $101.15 $105.54 $53.46
FCF/Share $0.90 $1.21 $1.64 $1.71 $1.79 $1.97 $1.45 $2.49 $3.42 $3.92 $4.94 $5.61 $5.42 $7.39 $7.03 $6.73 $6.30 $4.52 $5.15 $6.21 $4.10
OCF/Share $2.60 $2.60 $2.71 $2.70 $2.88 $3.35 $3.52 $4.95 $6.11 $6.72 $7.76 $8.74 $9.76 $12.52 $12.61 $12.53 $11.54 $10.82 $11.03 $11.68 $5.85
Cash/Share $0.76 $0.75 $0.67 $0.80 $0.85 $1.14 $1.02 $1.15 $1.27 $1.39 $1.20 $2.01 $2.59 $3.40 $2.33 $2.12 $1.47 $1.78 $1.37 $1.63 $1.61
EBITDA/Share $3.38 $3.52 $4.55 $6.01 $6.23 $6.56 $6.04 $5.80 $6.76 $8.02 $9.64 $11.70 $13.86 $15.51 $15.85 $16.01 $15.97 $15.89 $15.97 $15.89 $15.89
Debt/Share $3.14 $2.86 $2.85 $2.75 $2.80 $2.44 $8.76 $8.94 $8.31 $8.21 $8.25 $8.09 $10.02 $9.93 $10.59 $12.08 $13.56 $13.38 $13.99 $14.34 $14.34
Net Debt/Share $2.38 $2.11 $2.18 $1.96 $1.95 $1.30 $7.74 $7.79 $7.04 $6.83 $7.05 $6.08 $7.43 $6.54 $8.26 $9.96 $12.09 $11.59 $12.62 $12.71 $12.71
Academic Models
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — —
Piotroski F-Score 8 8 8 8 7 9 4 5 4 5 9 8 9 9 9 6 4 4 4 4 4
Beneish M-Score -2.76 -2.57 -2.78 -2.62 -2.30 -2.58 -2.67 -2.60 -3.36 -2.80 -2.70 -2.28 -2.24 -3.06 -3.38 -3.44 -2.76 -3.08 -2.39 -2.69 -2.694
Ohlson O-Score snapshot only -8.364
ROIC (Greenblatt) snapshot only 32.78%
Net-Net WC snapshot only $-12.47
EVA snapshot only $495664785.23
Credit
Metric Trend Q2'17 Q4'17 Q2'18 Q4'18 Q2'19 Q4'19 Q2'20 Q4'20 Q2'21 Q4'21 Q2'22 Q4'22 Q2'23 Q4'23 Q2'24 Q4'24 Q2'25 Q4'25 Q2'26 Q4'26 Current
Credit Rating snapshot only A
Credit Score 72.65 76.10 79.25 79.25 79.25 79.25 68.30 69.20 73.10 73.10 77.75 77.75 80.25 80.25 80.25 79.00 74.60 74.60 74.60 72.10 72.100
Credit Grade snapshot only 6
Credit Trend snapshot only -6.900
Implied Spread (bps) snapshot only 150.000

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