$46.56

+0.17 (+0.37%)

Weekly Expected Move ±4.1%

$43 $45 $47 $49 $51

NYSE · Consumer Cyclical · Auto - Parts · Alpha Radar Sell · Power 37 · $530.6M mcap · 11M float · 0.853% daily turnover · Short 64% of daily vol

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.

NO EDGE

32.1 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: 3.8% · 5Y Avg: 11.1%

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. MLR has No discernible competitive edge (32.1/100). The business operates without significant structural advantages. The primary source of advantage is Cost Advantage. ROIC of 3.8% 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

$56

Low

$56

Avg Target

$56

High

Based on 1 analyst since May 6, 2026 earnings

Analyst Recommendations

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

Rating Summary

ConsensusHold

Avg Target$51.00

Analysts3

Consensus Change History

Date	Field	From	To
2026-03-25	consensus	Buy	Hold

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-05-11	D.A. Davidson	—	$53	$56	+3	+16.2%	$48.20
2026-03-09	Loop Capital Markets	Dmitriy Pozdnyakov	$46	$44	-2	-2.2%	$44.98
2026-03-09	D.A. Davidson	Michael Shlisky	$82	$53	-29	+19.9%	$44.20
2025-11-10	Loop Capital Markets	Dmitriy Pozdnyakov	Initiated	$46	—	+18.0%	$38.99
2024-10-01	D.A. Davidson	Michael Shlisky	Initiated	$82	—	+37.0%	$59.86

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

Rating Change History

Date	From	To
2026-05-22	B+	B
2026-05-06	A-	B+
2026-05-04	B+	A-
2026-03-30	B	B+
2026-03-09	B+	B
2026-02-23	A-	B+
2026-01-30	B+	A-
2026-01-03	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 B

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. MLR scores highest in Safety (100/100) and lowest in Growth (0/100). A grade of B indicates above-average fundamentals with room for improvement in select areas.

Risk & Quality Signals

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

Altman Z-Score

4.51

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✓ ✗ ✓ ✓ ✗ ✗

Beneish M-Score

-3.58

Unlikely Manipulator

Ohlson O-Score

-9.67

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 94.1/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 8.17x

Accruals: -17.7%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. MLR scores 4.51, 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. MLR 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. MLR's score of -3.58 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. MLR'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. MLR receives an estimated rating of AA+ (score: 94.1/100), with a improving 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). MLR'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

34.19x

PEG

-0.48x

P/S

0.71x

P/B

1.27x

P/FCF

4.76x

P/OCF

4.14x

EV/EBITDA

15.32x

EV/Revenue

0.69x

EV/EBIT

22.82x

EV/FCF

4.66x

Earnings Yield

2.95%

FCF Yield

21.00%

Shareholder Yield

2.92%

Graham Number

$33.23

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 34.2x earnings, MLR commands a growth premium. Graham's intrinsic value formula yields $33.23 per share, 40% 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

0.695

NI / EBT

Interest Burden

0.990

EBT / EBIT

EBIT Margin

0.030

EBIT / Rev

Asset Turnover

1.185

Rev / Assets

Equity Multiplier

1.530

Assets / Equity

ROE

3.8%

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. MLR's ROE of 3.8% is driven by Asset Turnover (1.185), 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.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

$11.43

Price/Value

3.98x

Margin of Safety

-298.43%

Premium

298.43%

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 MLR's realized 0.0% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. MLR trades at a 298% premium to its adjusted intrinsic value of $11.43, 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 34.2x.

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

$46.57

Median 1Y

$47.76

5th Pctile

$29.24

95th Pctile

$78.03

Ann. Volatility

32.1%

Analyst Target

$51.00

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
William G. Miller II President and Chief Executive Officer	$827,424	$2,556,840	$4,748,987
Deborah L. Whitmire Executive Vice President, Chief Financial Officer, and Treasurer	$486,720	$778,182	$1,743,141
William G. Miller Executive Chairman of the Board of Directors	$716,560	$—	$1,398,989
Jeffrey I. Badgley President of International and Military	$652,410	$444,676	$1,382,076
Vincent Tiano Revenue esident and Chief Revenue Officer	$378,560	$444,676	$1,120,387
Josias W. Reyneke Vice President and Chief Information Officer	$378,560	$444,676	$1,108,780

CEO Pay Ratio

82:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $4,748,987

Avg Employee Cost (SGA/emp): $57,969

Employees: 1,535

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

1,535

-10.3% YoY

Revenue / Employee

$514,835

Rev: $790,271,000

Profit / Employee

$14,993

NI: $23,014,000

SGA / Employee

$57,969

Avg labor cost proxy

R&D / Employee

$5,342

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	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	10.5%	9.5%	5.7%	5.3%	4.4%	4.9%	7.0%	9.5%	13.4%	17.6%	18.2%	20.6%	22.4%	21.7%	17.0%	14.6%	11.3%	8.0%	5.6%	3.8%	3.77%
ROA	7.2%	6.5%	3.9%	3.6%	3.0%	3.3%	4.3%	5.9%	8.2%	10.8%	10.1%	11.5%	12.5%	12.1%	9.7%	8.3%	6.5%	4.6%	3.7%	2.5%	2.47%
ROIC	12.8%	11.7%	6.5%	6.0%	5.0%	6.0%	6.8%	9.2%	13.1%	17.1%	15.2%	17.3%	18.9%	18.1%	14.0%	11.8%	8.7%	5.8%	5.6%	3.8%	3.81%
ROCE	12.8%	11.8%	8.1%	7.5%	6.5%	7.4%	8.6%	11.3%	15.7%	20.0%	19.2%	21.6%	23.5%	22.5%	18.0%	15.4%	11.8%	8.5%	6.9%	5.0%	4.97%
Gross Margin	11.4%	10.8%	7.7%	7.1%	9.1%	11.3%	11.3%	10.8%	13.3%	15.6%	13.0%	12.6%	13.8%	13.4%	15.1%	15.0%	16.2%	14.2%	15.5%	14.2%	14.20%
Operating Margin	4.7%	3.6%	0.4%	1.4%	2.8%	4.1%	3.7%	4.4%	6.8%	8.6%	5.5%	6.5%	7.6%	6.3%	3.4%	4.7%	5.2%	2.3%	3.2%	1.0%	0.96%
Net Margin	3.6%	2.3%	1.3%	1.0%	1.9%	2.5%	4.1%	3.3%	5.0%	6.4%	5.6%	4.9%	5.5%	4.9%	4.7%	3.6%	4.0%	1.7%	2.0%	0.3%	0.31%
EBITDA Margin	6.3%	5.2%	3.6%	2.7%	4.2%	5.6%	6.9%	5.5%	8.0%	9.8%	8.7%	7.5%	8.6%	7.4%	7.8%	6.4%	7.0%	4.4%	5.3%	1.0%	0.96%
FCF Margin	3.9%	1.6%	0.9%	-3.6%	-6.6%	-6.0%	-5.7%	-2.6%	0.6%	0.3%	-0.1%	1.0%	-0.5%	1.4%	0.1%	-0.5%	3.5%	3.4%	10.8%	14.8%	14.80%
OCF Margin	6.1%	3.4%	2.1%	-2.2%	-3.2%	-2.8%	-2.3%	0.3%	1.8%	1.5%	1.0%	2.2%	0.5%	2.7%	1.3%	0.9%	5.0%	4.5%	12.5%	17.0%	17.02%
ROE 3Y Avg	snapshot only																				12.09%
ROE 5Y Avg	snapshot only																				10.19%
ROA 3Y Avg	snapshot only																				7.01%
ROIC 3Y Avg	snapshot only																				9.29%
ROIC Economic	snapshot only																				3.55%
Cash ROA	snapshot only																				21.50%
Cash ROIC	snapshot only																				30.96%
CROIC	snapshot only																				26.93%
NOPAT Margin	snapshot only																				2.10%
Pretax Margin	snapshot only																				3.00%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				8.90%
SBC / Revenue	snapshot only																				0.46%

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	14.56	13.96	21.66	19.74	19.56	16.65	14.21	14.03	10.15	8.56	8.10	8.52	8.65	9.94	11.72	8.89	12.02	15.47	18.79	33.87	34.194
P/S Ratio	0.59	0.51	0.49	0.39	0.31	0.28	0.34	0.42	0.39	0.40	0.41	0.46	0.48	0.52	0.59	0.43	0.52	0.55	0.55	0.71	0.712
P/B Ratio	1.46	1.26	1.24	1.05	0.85	0.81	0.99	1.31	1.34	1.48	1.36	1.62	1.78	1.99	1.86	1.21	1.27	1.16	1.03	1.25	1.271
P/FCF	14.95	32.59	57.54	-10.96	-4.72	-4.60	-6.01	-16.36	66.82	139.81	-416.21	48.19	-89.39	36.65	490.10	-93.25	14.94	16.49	5.09	4.76	4.763
P/OCF	9.59	15.11	23.06	—	—	—	—	127.87	21.12	26.13	43.05	21.08	97.68	19.59	44.10	45.72	10.52	12.22	4.38	4.14	4.143
EV/EBITDA	7.54	6.71	8.63	7.41	6.25	5.32	7.13	7.64	5.98	5.38	5.45	5.78	5.88	6.75	7.97	6.07	7.90	9.33	9.13	15.32	15.320
EV/Revenue	0.51	0.43	0.42	0.32	0.24	0.21	0.35	0.43	0.39	0.41	0.44	0.49	0.50	0.54	0.62	0.46	0.57	0.60	0.53	0.69	0.690
EV/EBIT	9.67	8.85	12.66	11.28	9.99	8.15	9.96	10.01	7.36	6.38	6.37	6.66	6.72	7.78	9.29	7.26	9.97	12.67	13.39	22.82	22.822
EV/FCF	12.92	27.47	48.86	-9.01	-3.68	-3.54	-6.13	-16.61	67.80	141.66	-443.47	50.83	-93.84	38.28	517.25	-101.17	16.15	17.95	4.96	4.66	4.662
Earnings Yield	6.9%	7.2%	4.6%	5.1%	5.1%	6.0%	7.0%	7.1%	9.9%	11.7%	12.3%	11.7%	11.6%	10.1%	8.5%	11.2%	8.3%	6.5%	5.3%	3.0%	2.95%
FCF Yield	6.7%	3.1%	1.7%	-9.1%	-21.2%	-21.7%	-16.6%	-6.1%	1.5%	0.7%	-0.2%	2.1%	-1.1%	2.7%	0.2%	-1.1%	6.7%	6.1%	19.7%	21.0%	21.00%
Price/Tangible Book	snapshot only																				1.311
EV/OCF	snapshot only																				4.055
EV/Gross Profit	snapshot only																				4.584
Acquirers Multiple	snapshot only																				22.884
Shareholder Yield	snapshot only																				2.92%
Graham Number	snapshot only																				$33.23

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	2.59	2.59	2.24	2.24	2.24	2.24	2.41	2.41	2.41	2.41	2.17	2.17	2.17	2.17	2.68	2.68	2.68	2.68	3.22	3.22	3.219
Quick Ratio	1.83	1.83	1.46	1.46	1.46	1.46	1.42	1.42	1.42	1.42	1.37	1.37	1.37	1.37	1.74	1.74	1.74	1.74	1.87	1.87	1.870
Debt/Equity	0.01	0.01	0.00	0.00	0.00	0.00	0.16	0.16	0.16	0.16	0.17	0.17	0.17	0.17	0.16	0.16	0.16	0.16	0.08	0.08	0.080
Net Debt/Equity	-0.20	-0.20	-0.19	-0.19	-0.19	-0.19	0.02	0.02	0.02	0.02	0.09	0.09	0.09	0.09	0.10	0.10	0.10	0.10	-0.03	-0.03	-0.026
Debt/Assets	0.00	0.00	0.00	0.00	0.00	0.00	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.10	0.10	0.10	0.10	0.06	0.06	0.057
Debt/EBITDA	0.03	0.03	0.04	0.04	0.04	0.04	1.11	0.90	0.69	0.56	0.66	0.59	0.55	0.57	0.67	0.76	0.94	1.21	0.73	1.00	1.001
Net Debt/EBITDA	-1.19	-1.25	-1.53	-1.60	-1.75	-1.60	0.14	0.11	0.09	0.07	0.34	0.30	0.28	0.29	0.42	0.48	0.59	0.76	-0.24	-0.33	-0.331
Interest Coverage	35.29	30.97	17.43	14.55	10.61	8.50	8.76	9.85	10.72	11.89	13.22	14.37	14.77	18.62	21.51	26.09	54.05	46.24	47.69	31.72	31.721
Equity Multiplier	1.41	1.41	1.54	1.54	1.54	1.54	1.71	1.71	1.71	1.71	1.86	1.86	1.86	1.86	1.66	1.66	1.66	1.66	1.40	1.40	1.402
Cash Ratio	snapshot only																				0.327
Debt Service Coverage	snapshot only																				47.254
Cash to Debt	snapshot only																				1.331
FCF to Debt	snapshot only																				3.284
Defensive Interval	snapshot only																				988.9 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	1.77	1.76	1.72	1.83	1.87	1.97	1.81	1.95	2.16	2.31	2.01	2.13	2.25	2.32	1.91	1.72	1.49	1.28	1.26	1.19	1.185
Inventory Turnover	7.20	7.16	6.51	6.98	7.20	7.56	5.70	6.09	6.66	7.03	5.83	6.14	6.49	6.73	5.78	5.17	4.43	3.79	3.61	3.42	3.416
Receivables Turnover	4.50	4.47	4.85	5.16	5.30	5.58	5.12	5.52	6.11	6.53	4.97	5.26	5.57	5.74	4.19	3.78	3.26	2.80	3.09	2.91	2.911
Payables Turnover	6.83	6.79	6.25	6.69	6.91	7.25	6.20	6.61	7.24	7.64	6.31	6.65	7.03	7.29	6.44	5.76	4.93	4.22	5.96	5.64	5.638
DSO	81	82	75	71	69	65	71	66	60	56	73	69	66	64	87	97	112	130	118	125	125.4 days
DIO	51	51	56	52	51	48	64	60	55	52	63	59	56	54	63	71	82	96	101	107	106.9 days
DPO	53	54	58	55	53	50	59	55	50	48	58	55	52	50	57	63	74	86	61	65	64.7 days
Cash Conversion Cycle	78	79	73	68	67	63	76	71	64	60	78	74	70	68	93	104	121	140	158	168	167.5 days
Fixed Asset Turnover	snapshot only																				6.002
Operating Cycle	snapshot only																				232.2 days
Cash Velocity	snapshot only																				16.667
Capital Intensity	snapshot only																				0.792

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	-0.8%	2.7%	10.2%	18.3%	12.3%	18.8%	18.3%	19.9%	29.4%	31.4%	35.9%	33.4%	27.4%	23.0%	9.0%	-7.2%	-24.5%	-36.9%	-37.2%	-34.3%	-34.29%
Net Income	-8.9%	-13.4%	-45.5%	-45.1%	-56.2%	-46.1%	25.2%	81.6%	2.1%	2.7%	1.9%	1.4%	85.4%	36.9%	8.9%	-17.5%	-40.7%	-56.7%	-63.8%	-71.6%	-71.57%
EPS	-8.9%	-13.4%	-45.5%	-45.1%	-56.2%	-46.2%	25.1%	81.5%	2.1%	2.7%	1.8%	1.4%	85.1%	35.9%	8.2%	-17.9%	-41.0%	-56.7%	-63.7%	-71.4%	-71.36%
FCF	-17.5%	-70.1%	-85.8%	-1.6%	-2.9%	-5.5%	-8.9%	13.5%	1.1%	1.1%	97.6%	1.5%	-2.2%	5.1%	2.3%	-1.4%	5.9%	49.7%	55.0%	22.2%	22.20%
EBITDA	-7.6%	-7.5%	-28.2%	-27.3%	-35.8%	-26.0%	19.3%	54.4%	1.2%	1.5%	1.2%	1.0%	66.2%	30.8%	6.8%	-15.7%	-36.9%	-49.3%	-53.2%	-61.3%	-61.30%
Op. Income	-11.3%	-12.8%	-48.1%	-49.2%	-58.2%	-47.0%	27.6%	92.7%	2.2%	2.6%	1.8%	1.4%	82.2%	34.0%	7.6%	-20.1%	-45.9%	-61.5%	-59.9%	-66.1%	-66.11%
OCF Growth	snapshot only																				10.95%
Asset Growth	snapshot only																				-11.60%
Equity Growth	snapshot only																				4.87%
Debt Growth	snapshot only																				-48.77%
Shares Change	snapshot only																				-0.74%
Dividend Growth	snapshot only																				4.80%

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	2.4%	0.1%	0.3%	0.6%	-0.5%	1.2%	1.2%	4.7%	13.0%	17.0%	21.0%	23.7%	22.8%	24.3%	20.6%	14.1%	7.6%	0.6%	-2.4%	-6.6%	-6.64%
Revenue 5Y	4.2%	3.3%	3.6%	4.9%	5.5%	6.4%	6.6%	7.9%	9.3%	9.4%	10.1%	10.2%	10.2%	10.9%	9.0%	7.3%	6.8%	4.4%	3.9%	2.9%	2.91%
EPS 3Y	0.2%	-7.5%	-21.6%	-24.9%	-31.7%	-28.9%	-19.6%	-8.6%	7.2%	19.5%	24.6%	33.3%	35.8%	38.9%	56.6%	52.4%	50.0%	29.2%	3.7%	-17.6%	-17.62%
EPS 5Y	10.6%	5.7%	-4.0%	-5.9%	-8.5%	-5.5%	-2.5%	1.2%	6.4%	9.3%	11.3%	12.8%	12.8%	12.4%	9.8%	8.3%	6.1%	0.1%	-5.3%	-11.1%	-11.06%
Net Income 3Y	0.3%	-7.5%	-21.6%	-24.9%	-31.7%	-28.8%	-19.6%	-8.5%	7.6%	19.9%	25.0%	33.8%	36.4%	39.7%	57.5%	53.3%	50.8%	29.8%	4.2%	-17.4%	-17.39%
Net Income 5Y	10.7%	5.7%	-4.0%	-5.8%	-8.4%	-5.4%	-2.4%	1.2%	6.6%	9.6%	11.6%	13.1%	13.1%	12.8%	10.2%	8.7%	6.5%	0.4%	-5.1%	-10.9%	-10.88%
EBITDA 3Y	1.9%	-3.5%	-12.6%	-15.3%	-19.5%	-16.8%	-12.5%	-3.6%	9.3%	19.2%	24.1%	31.1%	32.9%	33.7%	41.7%	37.7%	32.1%	17.9%	3.7%	-13.2%	-13.17%
EBITDA 5Y	8.1%	4.7%	-1.3%	-3.0%	-4.0%	-1.6%	1.6%	4.0%	8.4%	10.4%	12.2%	13.5%	13.8%	13.3%	9.8%	8.6%	6.5%	2.3%	-0.9%	-6.0%	-5.97%
Gross Profit 3Y	2.1%	-0.5%	-5.7%	-7.5%	-9.8%	-7.5%	-5.1%	1.8%	11.9%	19.6%	24.7%	29.9%	31.1%	30.9%	34.7%	32.3%	29.0%	20.7%	13.5%	4.8%	4.77%
Gross Profit 5Y	5.5%	4.0%	1.7%	0.8%	0.6%	2.6%	4.2%	6.8%	10.0%	11.7%	12.8%	13.6%	14.1%	13.9%	12.1%	11.7%	11.1%	9.5%	9.0%	8.2%	8.19%
Op. Income 3Y	-0.2%	-5.4%	-20.1%	-24.1%	-30.0%	-26.8%	-21.3%	-9.9%	6.3%	18.5%	23.5%	32.3%	35.2%	36.8%	57.5%	53.8%	47.3%	23.0%	7.1%	-13.9%	-13.85%
Op. Income 5Y	6.7%	2.5%	-8.4%	-10.6%	-12.7%	-8.8%	-3.7%	0.2%	6.1%	10.1%	13.1%	14.8%	15.1%	13.6%	8.3%	6.7%	3.5%	-3.0%	-4.1%	-8.9%	-8.93%
FCF 3Y	—	61.9%	-10.6%	—	—	—	—	—	-43.9%	-56.0%	—	-38.0%	—	19.9%	-37.2%	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	3.8%	—	—	—	0.5%	-38.8%	—	0.5%	-5.0%	14.5%	17.6%	17.63%
OCF 3Y	32.0%	4.5%	-11.3%	—	—	—	—	-61.1%	-28.0%	-31.2%	-43.5%	-25.8%	-47.1%	14.4%	3.4%	—	—	—	—	2.5%	2.48%
OCF 5Y	63.0%	32.9%	-6.1%	—	—	—	—	-27.6%	-0.1%	-4.2%	-12.9%	35.0%	-23.4%	0.5%	-13.6%	-27.0%	-0.5%	-5.7%	10.2%	14.1%	14.15%
Assets 3Y	7.9%	7.9%	5.9%	5.9%	5.9%	5.9%	8.6%	8.6%	8.6%	8.6%	17.6%	17.6%	17.6%	17.6%	15.1%	15.1%	15.1%	15.1%	5.6%	5.6%	5.55%
Assets 5Y	8.0%	8.0%	8.0%	8.0%	8.0%	8.0%	9.6%	9.6%	9.6%	9.6%	11.9%	11.9%	11.9%	11.9%	11.2%	11.2%	11.2%	11.2%	8.2%	8.2%	8.16%
Equity 3Y	11.6%	11.6%	7.7%	7.7%	7.7%	7.7%	4.4%	4.4%	4.4%	4.4%	7.2%	7.2%	7.2%	7.2%	12.1%	12.1%	12.1%	12.1%	12.7%	12.7%	12.75%
Book Value 3Y	11.6%	11.6%	7.7%	7.7%	7.7%	7.7%	4.3%	4.3%	4.0%	4.1%	6.8%	6.7%	6.8%	6.6%	11.5%	11.5%	11.5%	11.5%	12.2%	12.4%	12.43%
Dividend 3Y	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.0%	-0.3%	-0.3%	-0.2%	0.2%	0.7%	1.0%	1.3%	1.2%	1.1%	1.1%	1.2%	1.3%	1.29%

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	0.45	0.27	0.19	0.26	0.41	0.43	0.38	0.54	0.70	0.61	0.58	0.59	0.60	0.65	0.66	0.69	0.55	0.31	0.25	0.14	0.139
Earnings Stability	0.47	0.24	0.00	0.02	0.06	0.09	0.21	0.19	0.03	0.00	0.04	0.13	0.22	0.32	0.33	0.39	0.33	0.21	0.14	0.06	0.059
Margin Stability	0.95	0.97	0.91	0.90	0.88	0.88	0.90	0.90	0.87	0.87	0.87	0.86	0.84	0.85	0.84	0.82	0.81	0.81	0.84	0.86	0.862
Rev. Growth Consistency	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	1.00	0.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.00	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	0.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	0	0	0	0	0	0	0	0	0	0	1	0	0	0	1	1	0	0
Earnings Persistence	0.96	0.95	0.82	0.82	0.50	0.82	0.90	0.50	0.50	0.50	0.50	0.50	0.50	0.85	0.96	0.93	0.84	0.50	0.50	0.50	0.500
Earnings Smoothness	0.91	0.86	0.41	0.42	0.22	0.40	0.78	0.42	0.00	0.00	0.03	0.18	0.40	0.69	0.91	0.81	0.49	0.21	0.06	0.00	0.000
ROE Trend	-0.05	-0.05	-0.07	-0.07	-0.07	-0.05	-0.01	0.02	0.06	0.10	0.10	0.12	0.12	0.09	0.04	-0.01	-0.06	-0.11	-0.11	-0.13	-0.126
Gross Margin Trend	-0.01	-0.00	-0.02	-0.03	-0.03	-0.03	-0.01	0.00	0.02	0.03	0.03	0.04	0.04	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.012
FCF Margin Trend	0.01	-0.02	-0.04	-0.09	-0.11	-0.10	-0.09	-0.05	0.02	0.03	0.02	0.04	0.02	0.04	0.03	0.00	0.03	0.03	0.11	0.15	0.146
Sustainable Growth Rate	7.4%	6.4%	2.8%	2.4%	1.5%	2.0%	4.2%	6.7%	10.5%	14.8%	15.6%	18.0%	19.7%	19.0%	14.6%	12.2%	9.0%	5.6%	3.4%	1.5%	1.52%
Internal Growth Rate	5.3%	4.6%	2.0%	1.7%	1.0%	1.3%	2.7%	4.3%	6.9%	10.0%	9.5%	11.2%	12.4%	11.9%	9.1%	7.5%	5.4%	3.3%	2.3%	1.0%	1.00%

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	1.52	0.92	0.94	-1.09	-2.00	-1.70	-0.94	0.11	0.48	0.33	0.19	0.40	0.09	0.51	0.27	0.19	1.14	1.27	4.29	8.17	8.175
FCF/OCF	0.64	0.46	0.40	1.65	2.07	2.13	2.51	-7.82	0.32	0.19	-0.10	0.44	-1.09	0.53	0.09	-0.49	0.70	0.74	0.86	0.87	0.870
FCF/Net Income	snapshot only																				7.111
OCF/EBITDA	snapshot only																				3.778
CapEx/Revenue	2.2%	1.8%	1.3%	1.4%	3.4%	3.2%	3.4%	2.9%	1.3%	1.3%	1.0%	1.2%	1.0%	1.2%	1.2%	1.4%	1.5%	1.2%	1.7%	2.2%	2.22%
CapEx/Depreciation	snapshot only																				1.496
Accruals Ratio	-0.04	0.00	0.00	0.08	0.09	0.09	0.08	0.05	0.04	0.07	0.08	0.07	0.11	0.06	0.07	0.07	-0.01	-0.01	-0.12	-0.18	-0.177
Sloan Accruals	snapshot only																				-0.064
Cash Flow Adequacy	snapshot only																				4.921
Earnings Quality Score	snapshot only																				0.750

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	2.0%	2.3%	2.3%	2.7%	3.4%	3.6%	2.8%	2.1%	2.1%	1.9%	1.7%	1.5%	1.4%	1.2%	1.2%	1.8%	1.7%	1.9%	2.1%	1.8%	1.74%
Dividend/Share	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72	$0.71	$0.71	$0.72	$0.72	$0.74	$0.74	$0.75	$0.76	$0.77	$0.78	$0.79	$0.80	$0.81
Payout Ratio	29.1%	32.1%	50.5%	54.3%	66.4%	59.7%	40.4%	29.9%	21.3%	16.2%	14.2%	12.7%	11.9%	12.4%	13.7%	16.2%	21.0%	30.0%	39.8%	59.7%	59.68%
FCF Payout Ratio	29.8%	75.0%	1.3%	—	—	—	—	—	1.4%	2.6%	—	71.6%	—	45.6%	5.7%	—	26.1%	32.0%	10.8%	8.4%	8.39%
Total Payout Ratio	29.1%	32.1%	50.5%	54.3%	66.4%	59.7%	40.4%	29.9%	21.3%	16.2%	14.2%	12.7%	14.7%	16.5%	18.3%	25.4%	29.2%	42.5%	65.8%	98.8%	98.77%
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1
Chowder Number	0.02	0.02	0.02	0.03	0.03	0.04	0.03	0.02	0.02	0.02	0.02	0.03	0.05	0.06	0.07	0.07	0.07	0.07	0.07	0.07	0.066
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%	0.3%	0.4%	0.4%	1.0%	0.7%	0.8%	1.4%	1.2%	1.15%
Net 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%	0.3%	0.4%	0.4%	1.0%	0.7%	0.8%	1.4%	1.2%	1.15%
Total Shareholder Return	2.0%	2.3%	2.3%	2.7%	3.4%	3.6%	2.8%	2.1%	2.1%	1.9%	1.7%	1.5%	1.7%	1.7%	1.6%	2.8%	2.4%	2.7%	3.5%	2.9%	2.92%

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)	0.79	0.78	0.75	0.76	0.75	0.76	0.79	0.78	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.79	0.78	0.77	0.73	0.70	0.695
Interest Burden (EBT/EBIT)	0.98	0.96	0.92	0.92	0.87	0.83	0.87	0.90	0.91	0.93	0.93	0.94	0.94	0.95	0.95	0.96	0.99	0.98	1.00	0.99	0.990
EBIT Margin	0.05	0.05	0.03	0.03	0.02	0.03	0.03	0.04	0.05	0.06	0.07	0.07	0.07	0.07	0.07	0.06	0.06	0.05	0.04	0.03	0.030
Asset Turnover	1.77	1.76	1.72	1.83	1.87	1.97	1.81	1.95	2.16	2.31	2.01	2.13	2.25	2.32	1.91	1.72	1.49	1.28	1.26	1.19	1.185
Equity Multiplier	1.46	1.46	1.47	1.47	1.47	1.47	1.62	1.62	1.62	1.62	1.79	1.79	1.79	1.79	1.75	1.75	1.75	1.75	1.53	1.53	1.530

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)	$2.48	$2.24	$1.42	$1.33	$1.08	$1.21	$1.78	$2.41	$3.35	$4.42	$5.06	$5.72	$6.21	$6.01	$5.47	$4.70	$3.66	$2.60	$1.99	$1.34	$1.34
Book Value/Share	$24.75	$24.75	$24.94	$24.92	$24.93	$24.93	$25.70	$25.67	$25.46	$25.48	$30.19	$30.11	$30.12	$30.00	$34.57	$34.53	$34.57	$34.59	$36.34	$36.48	$36.64
Tangible Book/Share	$23.73	$23.73	$23.92	$23.90	$23.91	$23.91	$24.69	$24.66	$24.45	$24.48	$28.46	$28.37	$28.39	$28.28	$32.84	$32.81	$32.85	$32.86	$34.61	$34.74	$34.74
Revenue/Share	$61.15	$60.83	$62.88	$66.82	$68.62	$72.20	$74.32	$80.06	$87.97	$94.05	$100.09	$105.65	$111.87	$114.85	$108.40	$97.58	$84.13	$72.47	$68.23	$64.60	$65.40
FCF/Share	$2.41	$0.96	$0.54	$-2.39	$-4.50	$-4.36	$-4.21	$-2.06	$0.51	$0.27	$-0.10	$1.01	$-0.60	$1.63	$0.13	$-0.45	$2.95	$2.44	$7.35	$9.56	$9.68
OCF/Share	$3.76	$2.07	$1.34	$-1.45	$-2.17	$-2.05	$-1.68	$0.26	$1.61	$1.45	$0.95	$2.31	$0.55	$3.05	$1.45	$0.91	$4.18	$3.29	$8.53	$11.00	$11.13
Cash/Share	$5.04	$5.04	$4.76	$4.76	$4.76	$4.76	$3.52	$3.51	$3.48	$3.49	$2.60	$2.59	$2.59	$2.58	$2.10	$2.10	$2.10	$2.10	$3.86	$3.88	$4.65
EBITDA/Share	$4.13	$3.93	$3.04	$2.91	$2.65	$2.90	$3.62	$4.48	$5.78	$7.12	$8.00	$8.90	$9.58	$9.24	$8.50	$7.46	$6.02	$4.69	$3.99	$2.91	$2.91
Debt/Share	$0.13	$0.13	$0.11	$0.11	$0.11	$0.11	$4.02	$4.02	$3.98	$3.99	$5.28	$5.26	$5.27	$5.25	$5.65	$5.64	$5.65	$5.65	$2.90	$2.91	$2.91
Net Debt/Share	$-4.91	$-4.91	$-4.65	$-4.65	$-4.65	$-4.65	$0.50	$0.50	$0.50	$0.50	$2.68	$2.68	$2.68	$2.67	$3.55	$3.55	$3.55	$3.55	$-0.96	$-0.96	$-0.96

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 Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.507
Altman Z-Prime	snapshot only																				8.374
Piotroski F-Score	5	6	4	3	3	4	6	7	7	7	6	6	6	5	7	5	6	7	6	5	5
Beneish M-Score	-2.55	-2.62	-1.99	-1.87	-1.88	-2.01	-2.15	-2.27	-2.23	-2.14	-1.51	-1.59	-1.16	-1.44	-1.86	-1.93	-2.15	-2.10	-3.34	-3.58	-3.576
Ohlson O-Score	snapshot only																				-9.665
ROIC (Greenblatt)	snapshot only																				5.27%
Net-Net WC	snapshot only																				$23.46
EVA	snapshot only																				$-25334458.71

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																				AA+
Credit Score	96.08	96.12	95.07	82.80	79.61	76.67	76.20	80.91	88.66	86.84	84.38	87.77	83.31	91.49	90.31	88.32	95.93	89.93	95.66	94.08	94.085
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				5.767
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				87
Sector Credit Rank	snapshot only																				91

MLR NYSE

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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