— Know what they know.
Not Investment Advice
Also trades as: MRO.L (LSE) · $vol 32M · MLSYY (OTC) · $vol 0M

MLSPF OTC

Melrose Industries PLC
1W: +0.6% 1M: -2.8% 3M: -3.6% YTD: -20.4% 1Y: -25.0% 3Y: +13.6% 5Y: +136.7%
$6.50
+0.41 (+6.64%)
 
Weekly Expected Move ±7.1%
$6 $6 $7 $7 $7
OTC · Industrials · Aerospace & Defense · Tech Score Strong Sell · Power 31 · $8.1B mcap · 1.21B float · 0.0032% daily turnover · Short 67% of daily vol

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
Analyst Recommendations
Strong Buy: 0Buy: 1Hold: 1Sell: 1Strong Sell: 0
Rating Summary
ConsensusBuy
Avg Target$—
Analysts0

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.

C+
Oct 02, 2026
DCF
1
ROE
2
ROA
4
D/E
1
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. MLSPF receives an overall rating of C+. Strongest factors: ROA (4/5). Areas of concern: DCF (1/5), ROE (2/5), D/E (1/5), P/E (2/5).
Rating Change History
DateFromTo
2026-09-02 C C+
2026-08-04 C+ C
2026-08-03 B C+
2026-07-27 B- B
2026-07-01 B B-
2026-04-01 B- B
2026-03-30 B B-
2026-03-04 B- B
2026-03-02 C+ B-
2026-01-03 B C+

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 C
Profitability
37
Balance Sheet
53
Earnings Quality
60
Growth
41
Value
—
Momentum
51
Safety
—
Cash Flow
25

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
6/9
✓ ✓ ✓ ✗ ✗ ✓ ✓ ✓ ✗
Beneish M-Score
-2.37
Unlikely Manipulator
Ohlson O-Score
-7.46
Bankruptcy prob: 0.1%
Low Risk
Credit Rating
BBB-
Score: 53.5/100
Trend: Improving
Earnings Quality
50/100
OCF/NI: 0.56x
Accruals: 2.8%
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. MLSPF scores 6/9, 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. MLSPF's score of -2.37 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. MLSPF's implied 0.1% 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. MLSPF receives an estimated rating of BBB- (score: 53.5/100), 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). MLSPF's score of 50/100 is moderate — some divergence between reported earnings and underlying cash flows.

Valuation

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

P/E
36.83x
PEG
-0.77x
P/S
1.57x
P/B
2.05x
P/FCF
—
P/OCF
—
EV/EBITDA
—
EV/Revenue
—
EV/EBIT
—
EV/FCF
—
Earnings Yield
—
FCF Yield
—
Shareholder Yield
—
Graham Number
$4.40
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 36.8x earnings, MLSPF commands a growth premium. Graham's intrinsic value formula yields $4.40 per share, 48% 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
0.856
NI / EBT
×
Interest Burden
0.484
EBT / EBIT
×
EBIT Margin
0.160
EBIT / Rev
×
Asset Turnover
0.958
Rev / Assets
×
Equity Multiplier
2.539
Assets / Equity
=
ROE
16.1%
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. MLSPF's ROE of 16.1% is driven by Asset Turnover (0.958), 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
0.00%
Fair P/E
8.50x
Intrinsic Value
$3.23
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 MLSPF's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. MLSPF trades at a premium to its adjusted intrinsic value of $3.23, 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 36.8x.

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
$6.51
Median 1Y
$5.55
5th Pctile
$1.50
95th Pctile
$20.73
Ann. Volatility
77.2%
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 Q4'16 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 Current
ROE -3.0% -0.3% -2.7% -9.2% -9.4% -13.9% -10.8% -9.9% -7.4% -7.8% -13.7% -11.3% -11.1% -11.1% -6.0% -1.0% -1.8% 8.5% 10.0% 16.1% 16.12%
ROA -1.6% -0.2% -2.1% -4.2% -4.2% -6.0% -4.8% -4.2% -3.1% -3.6% -6.4% -5.0% -5.2% -5.9% -3.2% -0.5% -0.8% 3.8% 4.4% 6.4% 6.35%
ROIC 1.6% 3.3% 6.9% -0.8% 3.4% 4.6% 5.7% 6.5% 0.4% -1.9% -5.2% -3.9% -2.0% -3.0% 0.7% 1.2% 1.9% 9.9% 16.0% 21.1% 21.05%
ROCE -1.7% 0.2% -2.5% -2.3% 2.5% 2.0% 4.8% 2.5% -0.6% -1.6% -7.9% -5.5% -6.7% -11.1% -3.4% 1.6% 1.1% 9.3% 15.0% 18.9% 18.87%
Gross Margin 32.0% 31.6% 30.8% 17.7% 22.2% 14.6% 15.3% 5.9% 9.7% 8.2% 6.4% 6.8% 8.3% 9.4% 11.5% 23.2% 24.2% 26.4% 26.8% 27.7% 27.66%
Operating Margin 6.7% 5.3% 11.3% -11.8% 12.6% 4.1% 4.8% -5.4% -4.5% -0.9% -3.4% -2.4% 0.4% 1.2% 5.2% -3.6% 3.4% 25.6% 23.7% 11.2% 11.21%
Net Margin -3.8% 3.5% -6.2% -11.4% -2.7% -2.6% 2.1% -13.7% 0.8% -5.8% -8.8% -10.0% 1.7% -5.0% 2.4% -4.6% 1.8% 16.6% 4.5% 4.0% 4.00%
EBITDA Margin 0.0% 10.6% 0.0% -5.3% 20.7% 8.6% 15.8% -1.7% 15.5% 8.1% 6.5% 2.8% 13.1% 11.3% 16.8% 6.8% 11.9% 36.0% 34.2% 21.6% 21.57%
FCF Margin 4.2% -4.1% 0.6% -0.8% 0.3% 1.6% 1.8% 2.8% 4.1% 4.7% 3.7% 2.1% 0.3% -1.8% -1.0% -1.5% -4.5% -2.4% -1.4% 1.0% 1.04%
OCF Margin 7.1% -2.1% 2.8% 1.7% 4.0% 5.6% 6.3% 7.5% 8.3% 8.7% 7.3% 5.3% 4.0% 1.9% 2.7% 2.3% -1.3% 0.8% 1.3% 3.7% 3.70%
ROE 3Y Avg snapshot only 1.23%
ROE 5Y Avg snapshot only -2.27%
ROA 3Y Avg snapshot only -0.09%
ROIC 3Y Avg snapshot only 3.34%
ROIC Economic snapshot only 20.81%
Cash ROA snapshot only 3.38%
Cash ROIC snapshot only 5.67%
CROIC snapshot only 1.60%
NOPAT Margin snapshot only 13.73%
Pretax Margin snapshot only 7.74%
R&D / Revenue snapshot only 1.49%
SGA / Revenue snapshot only 10.31%
SBC / Revenue snapshot only 0.00%
Valuation
Metric Trend Q4'16 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 Current
P/E Ratio — — — — — — — — — — — — — — — — — — — — 36.834
P/S Ratio — — — — — — — — — — — — — — — — — — — — 1.565
P/B Ratio — — — — — — — — — — — — — — — — — — — — 2.055
P/FCF — — — — — — — — — — — — — — — — — — — — —
P/OCF — — — — — — — — — — — — — — — — — — — — —
EV/EBITDA — — — — — — — — — — — — — — — — — — — — —
EV/Revenue — — — — — — — — — — — — — — — — — — — — —
EV/EBIT — — — — — — — — — — — — — — — — — — — — —
EV/FCF — — — — — — — — — — — — — — — — — — — — —
Earnings Yield — — — — — — — — — — — — — — — — — — — — —
FCF Yield — — — — — — — — — — — — — — — — — — — — —
Graham Number snapshot only $4.40
Leverage & Solvency
Metric Trend Q4'16 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 Current
Current Ratio 1.21 1.43 1.36 1.50 1.17 1.07 1.07 1.05 0.94 1.39 0.83 0.87 0.96 0.89 0.80 0.86 0.90 1.05 0.98 1.07 1.072
Quick Ratio 0.71 0.85 0.77 1.01 0.77 0.68 0.69 0.62 0.61 1.05 0.54 0.62 0.62 0.55 0.49 0.54 0.60 0.71 0.67 0.72 0.715
Debt/Equity 0.27 0.36 0.31 0.48 0.46 0.55 0.58 0.58 0.51 0.23 0.23 0.26 0.26 0.23 0.23 0.44 0.58 0.63 0.78 0.72 0.718
Net Debt/Equity 0.25 0.34 0.30 0.42 0.41 0.50 0.51 0.53 0.47 0.07 0.17 0.22 0.21 0.20 0.21 0.38 0.55 0.59 0.72 0.65 0.648
Debt/Assets 0.16 0.20 0.19 0.21 0.19 0.22 0.24 0.24 0.22 0.13 0.12 0.13 0.13 0.12 0.12 0.19 0.22 0.25 0.29 0.26 0.260
Debt/EBITDA 23.07 5.26 5.17 -102.81 3.58 2.95 1.91 1.80 1.85 1.10 1.51 1.43 1.66 0.84 0.75 1.21 2.07 1.46 1.39 1.09 1.093
Net Debt/EBITDA 21.33 4.95 4.99 -90.86 3.19 2.71 1.68 1.66 1.69 0.35 1.10 1.20 1.34 0.73 0.70 1.04 1.96 1.36 1.29 0.99 0.987
Interest Coverage — — — — — 2.63 3.12 1.13 -0.19 -0.48 -2.33 -1.97 -2.67 -3.00 -0.96 0.46 0.35 2.64 3.76 4.54 4.540
Equity Multiplier 1.69 1.76 1.67 2.22 2.40 2.48 2.40 2.47 2.36 1.85 1.87 2.03 1.96 1.94 1.94 2.33 2.61 2.57 2.69 2.77 2.766
Cash Ratio snapshot only 0.112
Debt Service Coverage snapshot only 7.382
Cash to Debt snapshot only 0.097
FCF to Debt snapshot only 0.037
Defensive Interval snapshot only 621.1 days
Efficiency & Turnover
Metric Trend Q4'16 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 Current
Asset Turnover 0.34 0.65 0.97 0.64 0.88 1.31 1.80 1.16 1.08 1.01 0.98 0.92 0.94 1.11 1.04 0.83 0.64 0.96 0.97 0.96 0.958
Inventory Turnover 3.40 8.01 12.34 5.30 8.86 13.32 19.65 12.03 13.31 12.75 12.99 12.01 12.41 15.14 14.20 10.29 7.27 9.51 10.04 8.98 8.982
Receivables Turnover 4.16 11.10 16.78 4.13 8.66 11.80 22.18 9.62 12.10 10.02 13.91 10.13 10.42 13.85 16.23 7.15 6.20 8.99 11.40 6.79 6.787
Payables Turnover 4.11 5.95 17.04 3.04 10.29 7.77 22.05 6.89 14.15 6.55 12.91 5.64 11.07 6.94 13.14 3.92 6.14 3.99 9.36 3.51 3.513
DSO 88 33 22 88 42 31 16 38 30 36 26 36 35 26 22 51 59 41 32 54 53.8 days
DIO 107 46 30 69 41 27 19 30 27 29 28 30 29 24 26 35 50 38 36 41 40.6 days
DPO 89 61 21 120 35 47 17 53 26 56 28 65 33 53 28 93 59 92 39 104 103.9 days
Cash Conversion Cycle 106 17 30 37 48 11 18 15 32 9 26 2 31 -2 20 -7 50 -13 29 -9 -9.5 days
Fixed Asset Turnover snapshot only 8.335
Operating Cycle snapshot only 94.4 days
Cash Velocity snapshot only 36.131
Capital Intensity snapshot only 1.094
Growth (YoY)
Metric Trend Q4'16 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 Current
Revenue -44.1% 63.3% 4.1% 9.9% 7.9% 6.0% 5.4% 2.6% 92.7% 18.3% -18.1% -25.8% -26.9% -28.8% -30.4% -40.3% -52.7% -44.8% -35.2% -20.6% -20.60%
Net Income -1.1% -1.0% -5.4% -11.7% -7.7% -124.2% -7.0% -97.0% -15.5% 7.5% -1.0% -10.7% -39.7% -7.0% 67.6% 93.6% 88.6% 1.4% 2.0% 10.0% 9.97%
EPS -1.0% -1.0% 51.1% -13.0% -3.9% -49.0% -2.3% -23.5% -15.8% 7.6% -77.0% -10.9% -50.0% -15.5% 62.9% 92.9% 88.4% 1.4% 2.1% 10.5% 10.45%
FCF -74.0% -1.6% -82.3% -1.8% -39.3% 3.8% 18.7% 14.2% 26.9% 2.4% 66.1% -44.4% -94.1% -1.3% -1.2% -1.4% -7.3% 27.0% 4.7% 1.5% 1.55%
EBITDA -91.4% -26.5% 45.5% -1.7% 41.1% 9.7% 19.0% 66.3% 85.2% 22.8% -49.3% -43.7% -43.1% -42.3% -5.1% -16.2% -29.0% 20.6% 44.8% 68.1% 68.08%
Op. Income -78.9% -31.0% 3.5% -7.5% 8.3% 5.1% 2.8% 9.3% -89.8% -1.3% -1.7% -1.5% -5.3% 23.3% 1.1% 1.1% 1.5% 4.2% 22.2% 17.3% 17.26%
OCF Growth snapshot only 26.97%
Asset Growth snapshot only 10.19%
Equity Growth snapshot only -7.21%
Debt Growth snapshot only 51.32%
Shares Change snapshot only -5.08%
Dividend Growth snapshot only 10.33%
Growth (CAGR)
Metric Trend Q4'16 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 Current
Revenue 3Y -21.0% -2.1% 10.8% 32.7% 55.9% 70.4% 79.9% 96.9% 1.1% 1.4% 2.0% 2.1% 1.3% 80.7% 54.0% 16.4% -12.7% -22.5% -28.3% -29.4% -29.41%
Revenue 5Y — — — — 87.0% 68.4% 61.4% 55.2% 53.3% 50.7% 48.2% 43.9% 39.7% 33.0% 27.1% 27.6% 27.1% 39.7% 64.5% 68.7% 68.66%
EPS 3Y — — — — — — — — — — — — — — — — — — — — —
EPS 5Y — — — — — — — — — — — — — — — — — -54.8% — — —
Net Income 3Y — — — — — — — — — — — — — — — — — — — — —
Net Income 5Y — — — — — — — — — — — — — — — — — -11.5% — — —
EBITDA 3Y -60.6% -35.0% -41.5% — 27.6% 46.7% 76.8% 88.5% 88.5% 1.1% 1.5% 1.9% 2.5% 96.2% 1.1% — -9.2% -5.1% -11.4% -7.4% -7.43%
EBITDA 5Y — — — — 1.5% 68.7% 62.5% 49.7% 36.6% 29.2% 15.2% 19.6% 17.0% 17.5% 21.6% 25.9% 22.0% 46.2% 82.4% 1.0% 1.04%
Gross Profit 3Y -16.9% 1.7% 13.1% 24.2% 41.5% 43.4% 44.9% 50.1% 48.3% 58.9% 84.9% 93.5% 43.6% 11.9% -0.4% -8.4% -20.5% -19.5% -18.8% -14.9% -14.86%
Gross Profit 5Y — — — — 84.7% 59.6% 50.0% 39.0% 29.8% 22.9% 13.2% 10.3% 5.5% -0.4% -3.3% 3.7% 10.4% 27.0% 56.4% 62.6% 62.63%
Op. Income 3Y -44.5% -34.5% -23.0% — 5.7% 21.8% 32.6% 44.8% -41.6% — — — — — -43.9% — -40.6% -8.0% 2.6% 7.5% 7.46%
Op. Income 5Y — — — — — 60.8% 43.8% 33.3% -30.5% — — — — — -35.8% -27.1% -16.4% 26.9% 79.4% 1.3% 1.32%
FCF 3Y -42.0% — -49.8% — -6.3% 51.9% 60.0% 65.3% 63.8% 79.2% 79.6% 80.7% 0.1% — — — — — — -49.4% -49.38%
FCF 5Y — — — — -5.1% 16.2% 13.2% 19.6% 27.0% 33.6% 32.8% 29.4% 6.3% — — — — — — 6.6% 6.63%
OCF 3Y -34.6% — -25.5% -15.7% 48.4% 72.8% 88.6% 94.2% 86.8% 96.2% 97.4% 1.1% 92.4% — 53.4% 29.3% — -60.4% -57.3% -44.1% -44.13%
OCF 5Y — — — — 56.1% 44.9% 40.5% 40.6% 41.3% 44.0% 41.7% 37.9% 36.3% 8.0% 10.8% 0.1% — -23.7% -8.9% 24.3% 24.31%
Assets 3Y 19.4% 17.7% 20.9% 1.2% 64.7% 61.6% 69.9% 72.7% 73.7% 72.1% 67.4% 1.9% 56.5% 26.6% 30.1% -25.6% -27.8% -27.5% -25.1% -24.2% -24.18%
Assets 5Y — — — — 50.8% 56.2% 54.6% 53.8% 50.7% 48.5% 51.1% 54.3% 25.9% 9.2% 13.5% 15.3% 18.5% 19.3% 20.5% 66.3% 66.26%
Equity 3Y 34.9% 28.9% 42.7% 1.3% 68.1% 60.1% 51.0% 69.7% 65.2% 85.5% 38.2% 1.5% 48.8% 22.6% 23.7% -26.8% -29.8% -28.4% -27.8% -27.0% -27.00%
Book Value 3Y 76.3% 88.8% 1.1% 1.9% 81.0% -50.2% -52.7% -46.4% -48.6% -42.1% -58.5% -5.0% 25.7% -7.4% -8.2% -35.2% -27.6% -25.3% -24.2% -23.2% -23.21%
Dividend 3Y 2.0% 8.5% 8.7% 27.7% 40.6% -49.2% -45.7% -56.7% -66.9% -77.1% -82.7% -72.6% -27.5% -14.8% -2.2% -0.6% 4.9% -1.7% 4.1% 6.8% 6.83%
Growth Quality
Metric Trend Q4'16 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 Current
Revenue Stability 0.67 0.15 0.00 0.21 0.47 0.44 0.42 0.49 0.61 0.66 0.60 0.62 0.66 0.59 0.39 0.30 0.18 0.13 0.07 0.04 0.041
Earnings Stability 0.03 0.04 0.08 0.29 0.18 0.26 0.40 0.57 0.59 0.63 0.81 0.83 0.80 0.74 0.64 0.37 0.38 0.10 0.00 0.14 0.139
Margin Stability 0.90 0.92 0.95 0.87 0.82 0.78 0.76 0.72 0.65 0.60 0.54 0.54 0.48 0.43 0.38 0.44 0.44 0.43 0.41 0.46 0.463
Rev. Growth Consistency 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 0.00 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 0.00 0.00 0.00 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 1.00 1.00 1.000
FCF Positive Streak 1 0 1 0 1 0 1 0 1 1 1 1 1 0 0 0 0 0 0 0 0
Earnings Persistence 0.20 0.20 0.50 0.50 0.50 0.50 0.50 0.50 0.94 0.97 0.50 0.96 0.84 0.97 0.50 0.50 0.50 0.20 0.20 0.20 0.200
Earnings Smoothness — — — — — — — — — — — — — — — — — — — — —
ROE Trend -0.25 -0.24 -0.17 -0.22 -0.23 -0.28 -0.05 -0.05 -0.04 -0.03 -0.09 -0.04 -0.04 -0.10 0.01 0.09 0.06 0.23 0.23 0.23 0.233
Gross Margin Trend -0.01 -0.01 -0.01 -0.08 -0.10 -0.14 -0.15 -0.13 -0.15 -0.15 -0.17 -0.12 -0.10 -0.07 -0.04 0.01 0.08 0.12 0.17 0.16 0.163
FCF Margin Trend -0.01 -0.11 -0.09 -0.08 -0.06 -0.02 -0.07 -0.02 0.02 0.06 0.03 0.01 -0.02 -0.05 -0.04 -0.04 -0.07 -0.04 -0.03 0.01 0.007
Sustainable Growth Rate — — — — — — — — — — — — — — — — — 4.1% 5.2% 10.4% 10.44%
Internal Growth Rate — — — — — — — — — — — — — — — — — 1.9% 2.4% 4.3% 4.29%
Cash Flow Quality
Metric Trend Q4'16 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 Current
OCF/Net Income -1.46 8.39 -1.31 -0.26 -0.82 -1.24 -2.37 -2.04 -2.90 -2.44 -1.11 -0.98 -0.74 -0.36 -0.89 -3.94 1.00 0.19 0.29 0.56 0.558
FCF/OCF 0.58 1.91 0.22 -0.45 0.07 0.29 0.29 0.38 0.49 0.54 0.51 0.40 0.08 -0.96 -0.36 -0.65 3.38 -3.23 -1.09 0.28 0.282
FCF/Net Income snapshot only 0.157
OCF/EBITDA snapshot only 0.142
CapEx/Revenue 3.0% 1.9% 2.2% 2.5% 3.7% 4.0% 4.4% 4.6% 4.2% 4.0% 3.5% 3.2% 3.7% 3.7% 3.7% 3.8% 3.1% 3.2% 2.7% 2.7% 2.66%
CapEx/Depreciation snapshot only 0.266
Accruals Ratio -0.04 0.01 -0.05 -0.05 -0.08 -0.13 -0.16 -0.13 -0.12 -0.12 -0.14 -0.10 -0.09 -0.08 -0.06 -0.02 0.00 0.03 0.03 0.03 0.028
Sloan Accruals snapshot only -0.047
Cash Flow Adequacy snapshot only 0.741
Earnings Quality Score snapshot only 0.500
Dividends & Buybacks
Metric Trend Q4'16 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 Current
Dividend Yield — — — — — — — — — — — — — — — — — — — — 1.60%
Dividend/Share $0.11 $0.12 $0.12 $0.13 $0.13 $0.21 $0.25 $0.21 $0.16 $0.08 $0.04 $0.08 $0.11 $0.13 $0.11 $0.12 $0.12 $0.11 $0.12 $0.13 $0.07
Payout Ratio — — — — — — — — — — — — — — — — — 51.6% 48.0% 35.2% 35.24%
FCF Payout Ratio 1.8% — 3.9% — 6.6% 1.3% 1.0% 53.1% 28.5% 14.5% 11.8% 35.3% 3.0% — — — — — — 2.2% 2.24%
Total Payout Ratio — — — — — — — — — — — — — — — — — 2.6% 2.3% 1.2% 1.24%
Div. Increase Streak 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0
Chowder Number — — — — — — — — — — — — — — — — — — — — —
Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Net Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Total Shareholder Return — — — — — — — — — — — — — — — — — — — — —
DuPont Factors
Metric Trend Q4'16 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 Current
Tax Burden (NI/EBT) 0.56 0.14 0.65 0.82 0.86 0.89 1.07 0.94 1.14 1.00 0.84 0.92 0.78 0.83 0.91 0.52 0.79 0.85 0.89 0.86 0.856
Interest Burden (EBT/EBIT) 1.96 -7.11 1.43 1.43 -1.44 -2.44 -0.68 -2.15 6.32 3.07 1.43 1.51 1.38 1.33 2.04 -1.16 -1.81 0.63 0.41 0.48 0.484
EBIT Margin -0.04 0.00 -0.02 -0.06 0.04 0.02 0.04 0.02 -0.00 -0.01 -0.05 -0.04 -0.05 -0.05 -0.02 0.01 0.01 0.08 0.12 0.16 0.160
Asset Turnover 0.34 0.65 0.97 0.64 0.88 1.31 1.80 1.16 1.08 1.01 0.98 0.92 0.94 1.11 1.04 0.83 0.64 0.96 0.97 0.96 0.958
Equity Multiplier 1.83 1.98 1.30 2.17 2.25 2.33 2.25 2.34 2.38 2.15 2.13 2.25 2.16 1.87 1.89 2.12 2.15 2.21 2.27 2.54 2.539
Per Share
Metric Trend Q4'16 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 Current
EPS (Diluted TTM) $-0.07 $-0.01 $-0.11 $-0.41 $-0.34 $-0.46 $-0.35 $-0.51 $-0.39 $-0.43 $-0.61 $-0.57 $-0.58 $-0.50 $-0.23 $-0.04 $-0.07 $0.22 $0.26 $0.38 $0.38
Book Value/Share $2.64 $3.41 $3.16 $8.52 $5.63 $5.32 $5.16 $5.01 $4.86 $5.73 $4.49 $5.01 $5.25 $2.71 $2.44 $2.32 $2.14 $2.22 $2.25 $2.27 $2.29
Tangible Book/Share $-0.55 $-0.80 $-0.59 $-0.25 $-1.65 $-1.84 $-4.06 $-1.88 $-3.95 $0.52 $-1.63 $0.18 $-1.70 $0.12 $0.15 $-0.13 $-0.19 $0.05 $0.11 $0.22 $0.22
Revenue/Share $1.41 $3.64 $5.00 $6.27 $7.01 $10.19 $13.12 $13.99 $13.54 $12.06 $9.36 $10.40 $10.63 $9.26 $7.46 $6.85 $5.13 $5.38 $5.61 $5.73 $2.99
FCF/Share $0.06 $-0.15 $0.03 $-0.05 $0.02 $0.16 $0.24 $0.40 $0.56 $0.56 $0.35 $0.22 $0.04 $-0.17 $-0.07 $-0.10 $-0.23 $-0.13 $-0.08 $0.06 $0.16
OCF/Share $0.10 $-0.08 $0.14 $0.11 $0.28 $0.57 $0.82 $1.04 $1.13 $1.04 $0.68 $0.55 $0.43 $0.18 $0.20 $0.16 $-0.07 $0.04 $0.07 $0.21 $0.23
Cash/Share $0.05 $0.07 $0.03 $0.47 $0.29 $0.23 $0.35 $0.23 $0.21 $0.91 $0.28 $0.20 $0.26 $0.08 $0.04 $0.14 $0.07 $0.10 $0.13 $0.16 $0.16
EBITDA/Share $0.03 $0.23 $0.19 $-0.04 $0.73 $0.99 $1.56 $1.61 $1.35 $1.21 $0.69 $0.91 $0.83 $0.75 $0.75 $0.84 $0.60 $0.96 $1.26 $1.49 $1.49
Debt/Share $0.71 $1.22 $0.99 $4.05 $2.61 $2.91 $2.97 $2.90 $2.50 $1.34 $1.04 $1.30 $1.37 $0.63 $0.56 $1.02 $1.24 $1.40 $1.75 $1.63 $1.63
Net Debt/Share $0.66 $1.15 $0.95 $3.58 $2.32 $2.68 $2.62 $2.67 $2.29 $0.43 $0.76 $1.10 $1.11 $0.55 $0.52 $0.88 $1.17 $1.30 $1.62 $1.47 $1.47
Academic Models
Metric Trend Q4'16 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 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — —
Piotroski F-Score 4 3 3 3 3 3 3 3 4 5 3 5 5 5 6 5 3 6 6 6 6
Beneish M-Score 0.17 7.45 5.01 22.47 3.00 0.94 1.80 -2.34 -2.89 -3.13 -2.91 -3.25 -2.57 -3.92 -3.92 -4.10 -4.07 -2.26 -1.85 -2.37 -2.374
Ohlson O-Score snapshot only -7.457
ROIC (Greenblatt) snapshot only 1.16%
Net-Net WC snapshot only $-2.48
EVA snapshot only $517095177.45
Credit
Metric Trend Q4'16 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 Current
Credit Rating snapshot only BBB-
Credit Score 58.55 58.75 59.65 56.40 60.80 49.80 55.65 47.80 42.95 52.10 52.10 43.55 41.15 42.75 40.55 42.15 37.35 48.30 50.70 53.55 53.550
Credit Grade snapshot only 10
Credit Trend snapshot only 11.400
Implied Spread (bps) snapshot only 350.000

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