Also trades as: MS (NYSE) · $vol 1035M · 0QYU.L (LSE) · $vol 34M · MS-PO (NYSE) · $vol 2M · MS-PK (NYSE) · $vol 2M · MS-PP (NYSE) · $vol 2M · MS-PI (NYSE) · $vol 2M · MS-PA (NYSE) · $vol 2M · MS-PE (NYSE) · $vol 2M · MS-PQ (NYSE) · $vol 2M · MS-PL (NYSE) · $vol 1M · MS.TO (TSX) · $vol 0M · DWD.DE (XETRA) · $vol 0M

$24.29

-0.13 (-0.53%)

Weekly Expected Move ±1.1%

$24 $24 $24 $25 $25

NYSE · Financial Services · Financial - Capital Markets · Tech Score Strong Sell · Power 32 · $320.1B mcap · 731M float · 0.011% daily turnover

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: 22Hold: 16Sell: 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.

A-

Oct 02, 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. MS-PF receives an overall rating of A-. Strongest factors: ROE (5/5), ROA (5/5), P/E (4/5), P/B (4/5). Areas of concern: DCF (1/5), D/E (1/5).

Rating Change History

Date	From	To
2026-10-01	B	A-
2026-08-14	B+	B
2026-08-05	C-	B+
2026-07-15	B+	C-
2026-05-05	D+	B+
2026-04-15	A-	D+
2026-04-01	B	A-
2026-02-20	C+	B
2026-01-20	C	C+
2026-01-16	C+	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.

★ ★ ★ ★ ★ 27 Grade D

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. MS-PF scores highest in Safety (100/100) and lowest in Cash Flow (18/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

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

Altman-B Score

4.26

Safe Zone

Piotroski F-Score

7/9

✓ ✗ ✓ ✗ ✓ ✓ ✓ ✓ ✓

Beneish M-Score

-2.20

Unlikely Manipulator

Ohlson O-Score

-7.35

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

Score: 72.8/100

Trend: Improving

Earnings Quality

25/100

OCF/NI: -0.77x

Accruals: 2.4%

The Altman-B Score replaces the traditional Z-Score for banks and financial institutions. It weights equity-to-assets, return on assets, retained earnings, market value coverage, and cash reserves — metrics that better capture bank solvency than manufacturing-oriented ratios. MS-PF scores 4.26, placing it in the Safe Zone (safe > 3.0, distress < 1.5). 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. MS-PF scores 7/9, 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. MS-PF's score of -2.20 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. MS-PF'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. MS-PF receives an estimated rating of A (score: 72.8/100), 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). MS-PF's score of 25/100 is low — reported earnings may not be fully supported by 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

15.30x

PEG

0.39x

P/S

2.37x

P/B

2.71x

P/FCF

-2.55x

P/OCF

—

EV/EBITDA

-10.27x

EV/Revenue

-2.38x

EV/EBIT

-11.53x

EV/FCF

19.22x

Earnings Yield

50.58%

FCF Yield

-39.23%

Shareholder Yield

20.67%

Graham Number

$140.72

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 15.3x earnings, MS-PF trades at a reasonable valuation. An earnings yield of 50.6% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $140.72 per share, suggesting a potential 479% 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

0.774

NI / EBT

Interest Burden

1.000

EBT / EBIT

EBIT Margin

0.207

EBIT / Rev

Asset Turnover

0.084

Rev / Assets

Equity Multiplier

13.856

Assets / Equity

ROE

18.5%

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. MS-PF's ROE of 18.5% is driven by financial leverage (equity multiplier: 13.86x). Note: high leverage means ROE is amplified by debt rather than operational performance.

Graham-Dodd Adjusted Valuation

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

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

$488.83

Price/Value

0.05x

Margin of Safety

94.87%

Premium

-94.87%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with MS-PF's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. MS-PF actually compounded EPS at 27.9% 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. At an intrinsic value of $488.83, MS-PF appears undervalued with a 95% margin of safety. The adjusted fair P/E of 38.5x compares to the current market P/E of 15.3x.

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

$24.29

Median 1Y

$25.02

5th Pctile

$20.43

95th Pctile

$30.68

Ann. Volatility

11.5%

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

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
James P. Gorman Chairman and Chief Executive Officer	$1,500,000	$24,553,943	$34,941,635
Edward N. Pick Co-President, Head of Institutional Securities Group, and Co-Head of Corporate Strategy	$1,000,000	$16,584,344	$27,639,626
Andrew M. Saperstein Co-President and Head of Wealth Management	$1,000,000	$10,170,472	$19,217,923
Daniel A. Simkowitz Head of Investment Management and Co-Head of Corporate Strategy	$1,000,000	$10,170,472	$18,765,946
Jonathan M. Pruzan Executive Vice President and Chief Operating Officer (Former Chief Financial Officer and Head of Corporate Strategy)	$1,000,000	$9,168,932	$17,049,994
Sharon Yeshaya Financial Vice President and Chief Financial Officer	$834,521	$787,500	$5,279,039

CEO Pay Ratio

96:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $34,941,635

Avg Employee Cost (SGA/emp): $364,398

Employees: 83,000

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

83,000

+3.8% YoY

Revenue / Employee

$1,385,337

Rev: $114,983,000,000

Profit / Employee

$203,145

NI: $16,861,000,000

SGA / Employee

$364,398

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	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	15.2%	14.5%	13.9%	13.0%	12.1%	10.7%	10.2%	9.9%	9.8%	9.1%	9.5%	10.4%	11.0%	13.2%	13.9%	14.1%	15.1%	15.6%	16.4%	18.5%	18.50%
ROA	1.4%	1.3%	1.2%	1.2%	1.1%	0.9%	0.9%	0.9%	0.8%	0.8%	0.8%	0.9%	0.9%	1.1%	1.1%	1.1%	1.2%	1.3%	1.3%	1.3%	1.34%
ROIC	-15.0%	-16.9%	-14.5%	-3.3%	101.0%	-19.0%	2.6%	68.3%	53.2%	-38.8%	28.4%	17.0%	25.9%	21.3%	3.5%	4.5%	3.9%	36.1%	-12.1%	-8.8%	-8.83%
ROCE	4.6%	4.7%	4.6%	4.3%	3.9%	3.3%	3.1%	3.0%	3.0%	2.6%	2.8%	3.0%	3.1%	3.7%	3.8%	2.9%	4.0%	2.6%	2.6%	3.1%	3.11%
Gross Margin	97.8%	97.7%	96.6%	89.5%	76.9%	62.8%	63.0%	57.8%	54.4%	49.7%	56.1%	54.7%	54.2%	57.5%	58.7%	54.7%	56.9%	58.0%	61.8%	61.6%	61.65%
Operating Margin	34.3%	34.8%	32.0%	24.4%	21.5%	14.9%	17.7%	13.1%	13.9%	8.7%	17.3%	16.0%	16.0%	18.9%	19.9%	16.4%	20.1%	20.0%	21.1%	21.5%	21.46%
Net Margin	26.1%	26.3%	25.5%	18.4%	16.7%	11.9%	14.0%	10.2%	10.7%	6.3%	13.5%	12.1%	12.1%	14.3%	15.5%	12.6%	15.3%	15.2%	17.0%	16.2%	16.19%
EBITDA Margin	41.6%	43.6%	38.5%	31.2%	27.4%	21.3%	22.1%	17.4%	18.3%	14.5%	21.2%	21.0%	20.9%	25.2%	23.0%	21.1%	24.5%	23.9%	23.3%	21.3%	21.32%
FCF Margin	10.6%	54.8%	8.6%	26.5%	8.6%	-15.2%	-28.3%	-57.3%	-39.3%	-41.3%	-24.4%	-10.9%	-31.3%	-2.0%	-28.7%	-19.3%	-6.0%	-15.6%	-0.9%	-12.4%	-12.40%
OCF Margin	14.4%	58.8%	12.9%	31.4%	13.8%	-10.2%	-23.8%	-53.1%	-35.4%	-37.5%	-20.6%	-7.3%	-27.8%	1.3%	-25.5%	-16.3%	-3.3%	-15.6%	-0.8%	-12.3%	-12.32%
ROE 3Y Avg	snapshot only																				14.10%
ROE 5Y Avg	snapshot only																				13.13%
ROA 3Y Avg	snapshot only																				1.05%
ROIC Economic	snapshot only																				3.23%
Cash ROA	snapshot only																				-0.93%
NOPAT Margin	snapshot only																				16.13%
Pretax Margin	snapshot only																				20.66%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				31.18%
SBC / Revenue	snapshot only																				1.62%

Valuation

Metric	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	2.63	2.55	2.53	2.62	2.77	3.15	3.35	3.57	3.65	3.97	3.85	3.56	3.40	2.87	2.72	2.67	2.48	2.37	2.19	1.98	15.298
P/S Ratio	0.68	0.66	0.65	0.63	0.60	0.56	0.50	0.46	0.43	0.40	0.39	0.38	0.38	0.37	0.37	0.36	0.36	0.35	0.33	0.32	2.372
P/B Ratio	0.37	0.36	0.36	0.35	0.34	0.35	0.34	0.36	0.36	0.36	0.37	0.37	0.37	0.37	0.36	0.36	0.36	0.36	0.35	0.36	2.708
P/FCF	6.42	1.21	7.54	2.38	6.94	-3.67	-1.76	-0.81	-1.08	-0.98	-1.61	-3.49	-1.20	-18.32	-1.28	-1.88	-5.94	-2.24	-37.93	-2.55	-2.549
P/OCF	4.71	1.13	5.03	2.02	4.36	—	—	—	—	—	—	—	—	28.24	—	—	—	—	—	—	—
EV/EBITDA	-7.04	-6.56	-7.20	-3.22	-3.28	-6.88	-3.60	-2.97	-2.70	-5.40	-1.71	-0.07	-1.11	-0.12	14.63	10.68	13.39	-0.92	-8.08	-10.27	-10.274
EV/Revenue	-2.92	-2.71	-2.93	-1.25	-1.15	-1.99	-0.89	-0.64	-0.53	-0.97	-0.30	-0.01	-0.22	-0.03	3.29	2.40	3.14	-0.21	-1.88	-2.38	-2.383
EV/EBIT	-8.65	-7.97	-8.83	-3.97	-4.09	-8.83	-4.68	-3.89	-3.57	-7.34	-2.29	-0.10	-1.47	-0.15	18.58	13.49	16.67	-1.11	-9.63	-11.53	-11.531
EV/FCF	-27.55	-4.95	-34.10	-4.71	-13.27	13.13	3.16	1.12	1.35	2.35	1.25	0.13	0.69	1.26	-11.48	-12.43	-52.12	1.36	214.45	19.22	19.224
Earnings Yield	38.0%	39.2%	39.5%	38.2%	36.0%	31.7%	29.9%	28.0%	27.4%	25.2%	25.9%	28.1%	29.4%	34.8%	36.8%	37.5%	40.4%	42.2%	45.6%	50.6%	50.58%
FCF Yield	15.6%	82.6%	13.3%	42.0%	14.4%	-27.3%	-56.7%	-1.2%	-92.3%	-1.0%	-62.2%	-28.7%	-83.2%	-5.5%	-78.1%	-53.2%	-16.8%	-44.7%	-2.6%	-39.2%	-39.23%
PEG Ratio	snapshot only																				0.389
Price/Tangible Book	snapshot only																				0.457
EV/Gross Profit	snapshot only																				-3.990
Acquirers Multiple	snapshot only																				-11.509
Shareholder Yield	snapshot only																				20.67%
Graham Number	snapshot only																				$140.72

Leverage & Solvency

Metric	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	0.78	0.77	0.74	0.64	0.64	0.72	0.63	0.64	0.66	0.72	0.66	0.64	0.68	0.66	0.22	0.45	0.26	1.17	1.61	1.24	1.236
Quick Ratio	0.78	0.77	0.74	0.64	0.64	0.72	0.63	0.64	0.66	0.72	0.66	0.64	0.68	0.66	0.22	0.45	0.26	1.17	1.61	1.24	1.236
Debt/Equity	2.85	2.90	2.90	2.95	2.85	3.08	3.17	3.11	3.36	3.42	3.72	3.55	3.61	3.45	3.72	4.04	3.77	4.26	3.45	4.75	4.751
Net Debt/Equity	-1.94	-1.85	-1.98	-1.04	-1.00	-1.59	-0.96	-0.85	-0.81	-1.24	-0.66	-0.38	-0.58	-0.39	2.90	2.04	2.83	-0.58	-2.32	-3.09	-3.093
Debt/Assets	0.25	0.26	0.24	0.26	0.25	0.26	0.27	0.27	0.29	0.28	0.30	0.30	0.30	0.30	0.31	0.32	0.30	0.33	0.25	0.31	0.313
Debt/EBITDA	12.80	12.78	12.88	13.74	14.27	17.07	18.51	18.66	20.13	21.10	22.04	19.51	19.01	15.84	16.68	17.92	15.79	17.87	14.12	17.87	17.875
Net Debt/EBITDA	-8.69	-8.16	-8.79	-4.85	-4.99	-8.80	-5.60	-5.10	-4.86	-7.65	-3.90	-2.10	-3.04	-1.81	13.00	9.06	11.86	-2.42	-9.51	-11.64	-11.636
Interest Coverage	13.55	14.40	13.60	7.44	2.85	1.15	0.68	0.47	0.37	0.30	0.29	0.31	0.32	0.39	0.41	0.41	0.44	0.45	0.47	0.52	0.515
Equity Multiplier	11.24	11.27	11.88	11.55	11.48	11.79	11.90	11.60	11.78	12.05	12.38	12.04	12.14	11.63	12.17	12.51	12.41	12.72	13.84	15.17	15.170
Cash Ratio	snapshot only																				1.039
Debt Service Coverage	snapshot only																				0.578
Cash to Debt	snapshot only																				1.651
FCF to Debt	snapshot only																				-0.030
Defensive Interval	snapshot only																				7520.6 days

Efficiency & Turnover

Metric	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	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.07	0.07	0.08	0.08	0.08	0.08	0.09	0.08	0.08	0.09	0.09	0.08	0.08	0.084
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover (trade)	0.67	0.60	0.54	0.61	0.62	0.72	0.82	0.97	1.02	1.13	1.20	1.19	1.21	1.24	1.22	1.16	1.10	1.14	1.07	1.01	1.015
Payables Turnover	0.01	0.01	0.01	0.01	0.03	0.06	0.09	0.12	0.16	0.19	0.20	0.21	0.22	0.24	0.22	0.23	0.22	0.17	0.22	0.47	0.473
DSO (trade)	547	612	673	597	589	510	444	375	357	323	304	308	302	294	300	315	333	319	341	360	359.6 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	55718	60761	55778	33337	14593	6470	4253	2986	2293	1966	1862	1710	1623	1531	1644	1622	1674	2187	1666	771	771.1 days
Cash Conversion Cycle (trade)	-55171	-60149	-55105	-32741	-14004	-5960	-3809	-2611	-1937	-1643	-1558	-1402	-1321	-1237	-1344	-1307	-1341	-1868	-1325	-411	-411.4 days
Cash Velocity	snapshot only																				0.146
Capital Intensity	snapshot only																				13.239

Growth (YoY)

Metric	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	15.8%	16.2%	5.9%	3.4%	1.3%	8.1%	21.9%	37.6%	45.8%	43.3%	34.9%	26.3%	20.5%	15.2%	12.9%	11.1%	10.6%	11.5%	13.7%	16.7%	16.74%
Net Income	49.5%	36.7%	8.7%	-1.2%	-15.2%	-26.6%	-29.1%	-26.1%	-21.5%	-17.6%	-8.0%	3.8%	14.1%	47.4%	50.2%	41.7%	44.5%	25.9%	27.2%	37.1%	37.07%
EPS	29.2%	38.0%	12.6%	5.5%	-9.4%	-22.0%	-25.1%	-22.8%	-18.9%	-15.0%	-5.3%	6.4%	16.6%	49.1%	51.7%	43.3%	46.0%	27.1%	27.8%	37.1%	37.07%
FCF	5.8%	2.2%	1.2%	7.1%	-17.3%	-1.3%	-5.0%	-4.0%	-7.6%	-2.9%	-16.2%	76.0%	4.0%	94.3%	-32.9%	-97.0%	78.7%	-7.5%	96.5%	25.1%	25.10%
EBITDA	49.9%	31.3%	8.1%	-1.0%	-14.4%	-24.3%	-25.6%	-23.2%	-18.0%	-11.2%	-3.0%	9.5%	19.0%	41.6%	42.2%	32.9%	33.3%	16.9%	17.4%	20.4%	20.37%
Op. Income	51.0%	36.4%	7.4%	-0.9%	-15.8%	-28.4%	-29.9%	-27.8%	-22.7%	-16.2%	-6.1%	7.5%	18.2%	49.0%	50.6%	40.7%	42.7%	24.8%	24.9%	35.8%	35.78%
OCF Growth	snapshot only																				11.79%
Asset Growth	snapshot only																				23.72%
Equity Growth	snapshot only																				2.06%
Debt Growth	snapshot only																				20.04%
Shares Change	snapshot only																				0.00%
Dividend Growth	snapshot only																				6.32%

Growth (CAGR)

Metric	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	6.4%	6.5%	5.5%	4.6%	5.1%	6.8%	11.9%	15.5%	19.6%	21.7%	20.3%	21.5%	21.2%	21.3%	22.9%	24.5%	24.8%	22.5%	20.1%	17.9%	17.85%
Revenue 5Y	10.7%	9.9%	8.3%	7.3%	7.3%	8.5%	9.8%	11.2%	12.2%	13.4%	14.1%	14.7%	15.3%	15.0%	16.4%	16.7%	17.9%	18.3%	17.5%	18.4%	18.41%
EPS 3Y	21.3%	18.0%	17.9%	16.3%	12.8%	5.2%	5.6%	0.5%	-1.7%	-2.9%	-7.2%	-4.7%	-5.0%	-0.4%	2.4%	5.6%	11.3%	17.2%	22.4%	27.9%	27.85%
EPS 5Y	23.9%	21.2%	17.7%	15.7%	13.4%	14.1%	10.0%	7.1%	5.6%	1.7%	3.0%	5.3%	6.3%	8.1%	11.1%	9.2%	10.1%	11.6%	9.1%	11.2%	11.22%
Net Income 3Y	23.3%	19.8%	19.7%	17.9%	14.4%	6.8%	7.6%	2.5%	-0.1%	-6.2%	-10.8%	-8.8%	-8.7%	-3.8%	-0.7%	2.8%	9.0%	15.2%	20.7%	26.3%	26.34%
Net Income 5Y	23.0%	20.3%	16.6%	14.3%	11.9%	12.5%	8.6%	5.9%	4.5%	0.8%	2.3%	4.7%	6.1%	8.2%	11.5%	9.7%	10.4%	8.9%	6.3%	8.1%	8.05%
EBITDA 3Y	20.1%	22.2%	21.6%	19.3%	16.2%	9.1%	9.1%	4.3%	1.7%	-4.0%	-7.9%	-5.9%	-5.8%	-1.6%	0.9%	3.8%	9.1%	13.7%	17.4%	20.6%	20.55%
EBITDA 5Y	19.2%	17.7%	14.7%	13.0%	11.2%	8.3%	6.3%	4.8%	4.0%	4.2%	5.4%	7.4%	8.9%	10.3%	12.3%	10.6%	10.8%	7.9%	5.4%	5.9%	5.90%
Gross Profit 3Y	12.8%	14.4%	14.4%	13.6%	12.2%	8.7%	9.3%	6.7%	5.5%	3.6%	-0.3%	-0.1%	-0.7%	0.6%	2.4%	4.4%	7.2%	9.5%	12.1%	15.0%	14.96%
Gross Profit 5Y	12.1%	11.5%	9.8%	8.8%	7.9%	6.8%	5.9%	5.5%	5.2%	5.9%	6.6%	7.5%	8.2%	8.1%	9.5%	8.3%	8.5%	7.8%	6.3%	7.5%	7.52%
Op. Income 3Y	17.5%	20.5%	20.6%	18.7%	15.8%	7.6%	8.1%	2.2%	-0.6%	-6.4%	-10.9%	-8.4%	-8.4%	-3.6%	-0.3%	3.0%	9.3%	15.9%	20.9%	27.1%	27.12%
Op. Income 5Y	19.0%	17.3%	13.8%	11.9%	9.7%	6.3%	3.8%	2.1%	1.1%	1.0%	2.9%	5.3%	7.2%	9.3%	12.3%	10.1%	10.7%	8.8%	5.9%	8.0%	8.00%
FCF 3Y	-25.0%	79.9%	-20.4%	-23.3%	-46.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	-19.7%	93.4%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	-23.7%	66.9%	-14.4%	-20.4%	-38.2%	—	—	—	—	—	—	—	—	-65.8%	—	—	—	—	—	—	—
OCF 5Y	-15.8%	69.2%	—	—	—	—	—	—	—	—	—	—	—	-49.3%	—	—	—	—	—	—	—
Assets 3Y	11.2%	11.7%	11.7%	9.6%	8.7%	9.6%	8.2%	6.1%	6.9%	2.3%	2.0%	1.4%	1.9%	0.7%	2.1%	4.9%	5.6%	6.4%	9.6%	12.9%	12.87%
Assets 5Y	7.9%	7.8%	8.0%	6.9%	6.3%	6.7%	6.9%	5.9%	6.2%	6.9%	7.0%	6.3%	6.9%	6.3%	6.5%	6.8%	7.4%	4.9%	6.4%	7.6%	7.59%
Equity 3Y	10.4%	9.5%	8.4%	7.5%	7.0%	7.1%	5.5%	5.0%	3.9%	-0.9%	-2.3%	-2.0%	-0.7%	-0.3%	1.3%	2.1%	2.9%	3.7%	4.3%	3.2%	3.23%
Book Value 3Y	8.6%	7.9%	6.8%	6.1%	5.5%	5.4%	3.6%	3.0%	2.3%	2.5%	1.6%	2.5%	3.3%	3.2%	4.4%	4.8%	5.1%	5.5%	5.8%	4.5%	4.46%
Dividend 3Y	10.2%	13.3%	17.2%	20.4%	12.6%	7.3%	3.2%	-0.2%	0.4%	5.7%	6.2%	6.8%	6.2%	5.7%	5.5%	5.1%	4.7%	4.2%	3.7%	3.3%	3.29%

Growth Quality

Metric	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	0.91	0.90	0.97	0.96	0.93	0.93	0.89	0.74	0.69	0.72	0.77	0.78	0.80	0.83	0.90	0.91	0.93	0.95	0.97	0.99	0.990
Earnings Stability	0.85	0.90	0.85	0.87	0.77	0.66	0.50	0.44	0.30	0.07	0.06	0.09	0.08	0.07	0.08	0.10	0.14	0.17	0.14	0.28	0.279
Margin Stability	0.89	0.90	0.88	0.89	0.90	0.90	0.87	0.85	0.83	0.80	0.77	0.75	0.75	0.76	0.76	0.75	0.75	0.76	0.74	0.73	0.735
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	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	0.00	0.00	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	1.000
FCF Positive Streak	0	0	0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.80	0.85	0.97	1.00	0.94	0.89	0.88	0.90	0.91	0.93	0.97	0.98	0.94	0.81	0.50	0.83	0.82	0.90	0.89	0.85	0.852
Earnings Smoothness	0.60	0.69	0.92	0.99	0.84	0.69	0.66	0.70	0.76	0.81	0.92	0.96	0.87	0.62	0.60	0.65	0.64	0.77	0.76	0.69	0.687
ROE Trend	0.03	0.03	0.03	0.02	-0.00	-0.02	-0.03	-0.03	-0.03	-0.03	-0.03	-0.01	-0.00	0.03	0.03	0.03	0.04	0.04	0.04	0.06	0.063
Gross Margin Trend	0.17	0.14	0.11	0.06	-0.02	-0.14	-0.25	-0.32	-0.34	-0.33	-0.30	-0.26	-0.21	-0.12	-0.07	-0.03	0.00	0.01	0.03	0.05	0.047
FCF Margin Trend	-0.20	0.44	-0.16	0.10	0.05	-0.16	-0.10	-0.68	-0.49	-0.61	-0.15	0.04	-0.16	0.26	-0.02	0.15	0.29	0.06	0.26	0.03	0.027
Sustainable Growth Rate	11.5%	10.5%	9.4%	7.9%	6.9%	5.5%	4.8%	4.4%	4.1%	3.3%	3.7%	4.4%	5.1%	7.1%	7.8%	8.0%	9.1%	9.5%	10.4%	12.3%	12.30%
Internal Growth Rate	1.0%	1.0%	0.8%	0.7%	0.6%	0.5%	0.4%	0.4%	0.4%	0.3%	0.3%	0.4%	0.4%	0.6%	0.6%	0.7%	0.7%	0.8%	0.8%	0.9%	0.90%

Cash Flow Quality

Metric	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	0.56	2.26	0.50	1.30	0.64	-0.58	-1.60	-4.10	-3.04	-3.69	-2.03	-0.68	-2.52	0.10	-1.89	-1.20	-0.23	-1.06	-0.06	-0.77	-0.771
FCF/OCF	0.73	0.93	0.67	0.85	0.63	1.48	1.19	1.08	1.11	1.10	1.18	1.49	1.12	-1.54	1.12	1.19	1.83	1.00	1.04	1.01	1.006
FCF/Net Income	snapshot only																				-0.775
OCF/EBITDA	snapshot only																				-0.531
CapEx/Revenue	3.9%	4.0%	4.3%	4.8%	5.1%	4.9%	4.5%	4.1%	3.9%	3.8%	3.7%	3.6%	3.5%	3.4%	3.2%	3.0%	2.7%	0.0%	0.0%	0.1%	0.08%
CapEx/Depreciation	snapshot only																				0.030
Accruals Ratio	0.01	-0.02	0.01	-0.00	0.00	0.01	0.02	0.04	0.03	0.04	0.02	0.01	0.03	0.01	0.03	0.03	0.02	0.03	0.01	0.02	0.024
Sloan Accruals	snapshot only																				0.381
Cash Flow Adequacy	snapshot only																				-2.267
Earnings Quality Score	snapshot only																				0.250

Dividends & Buybacks

Metric	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	9.3%	10.9%	12.8%	14.9%	15.4%	15.5%	15.9%	15.5%	15.8%	16.0%	16.0%	16.0%	15.8%	16.0%	16.1%	16.2%	16.2%	16.5%	16.8%	17.0%	2.18%
Dividend/Share	$1.98	$2.34	$2.70	$3.07	$3.14	$3.22	$3.30	$3.37	$3.45	$3.54	$3.62	$3.69	$3.75	$3.82	$3.91	$4.00	$4.07	$4.14	$4.20	$4.25	$4.15
Payout Ratio	24.4%	27.7%	32.4%	39.0%	42.7%	49.0%	53.1%	55.5%	57.8%	63.4%	61.5%	57.1%	53.9%	45.8%	43.8%	43.2%	40.1%	39.1%	36.8%	33.5%	33.51%
FCF Payout Ratio	59.5%	13.2%	96.6%	35.5%	1.1%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Payout Ratio	87.4%	1.1%	1.2%	1.3%	1.4%	1.5%	1.4%	1.3%	1.2%	1.3%	1.2%	1.1%	95.8%	77.2%	75.3%	75.8%	72.0%	39.1%	41.4%	40.9%	40.86%
Div. Increase Streak	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.50	0.63	0.81	0.96	0.64	0.45	0.32	0.21	0.22	0.23	0.23	0.23	0.22	0.22	0.23	0.24	0.24	0.24	0.24	0.23	0.233
Buyback Yield	23.9%	31.5%	35.7%	36.6%	34.6%	31.3%	27.1%	21.4%	18.4%	17.1%	15.5%	14.6%	12.3%	10.9%	11.6%	12.2%	12.9%	0.0%	2.1%	3.7%	3.72%
Net Buyback Yield	23.9%	31.5%	35.7%	36.6%	34.6%	31.3%	27.1%	21.4%	18.4%	17.1%	15.5%	14.6%	12.3%	10.9%	11.6%	12.2%	12.9%	0.0%	2.1%	3.7%	3.72%
Total Shareholder Return	33.2%	42.4%	48.5%	51.5%	50.0%	46.8%	43.0%	36.9%	34.2%	33.1%	31.5%	30.6%	28.1%	26.9%	27.7%	28.4%	29.1%	16.5%	18.9%	20.7%	20.67%

DuPont Factors

Metric	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)	0.77	0.76	0.77	0.77	0.77	0.78	0.78	0.79	0.78	0.77	0.76	0.76	0.76	0.76	0.76	0.76	0.77	0.77	0.78	0.77	0.774
Interest Burden (EBT/EBIT)	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
EBIT Margin	0.34	0.34	0.33	0.31	0.28	0.23	0.19	0.17	0.15	0.13	0.13	0.14	0.15	0.17	0.18	0.18	0.19	0.19	0.19	0.21	0.207
Asset Turnover	0.05	0.05	0.05	0.05	0.05	0.05	0.06	0.07	0.07	0.08	0.08	0.08	0.08	0.09	0.08	0.08	0.09	0.09	0.08	0.08	0.084
Equity Multiplier	11.05	11.12	11.38	11.20	11.36	11.52	11.89	11.58	11.63	11.92	12.14	11.82	11.96	11.83	12.28	12.29	12.28	12.19	13.03	13.86	13.856

Per Share

Metric	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)	$8.13	$8.42	$8.31	$7.87	$7.36	$6.57	$6.22	$6.08	$5.97	$5.59	$5.89	$6.46	$6.96	$8.33	$8.93	$9.26	$10.16	$10.58	$11.41	$12.70	$12.70
Book Value/Share	$58.45	$59.07	$58.63	$58.96	$59.52	$59.64	$60.63	$60.80	$60.38	$60.87	$61.38	$62.52	$64.42	$64.99	$66.76	$67.91	$69.03	$70.08	$71.74	$69.31	$70.99
Tangible Book/Share	$44.46	$44.96	$44.35	$44.57	$45.02	$45.19	$46.12	$46.28	$45.84	$46.27	$46.76	$47.94	$49.90	$50.59	$52.37	$53.52	$54.70	$55.80	$57.26	$54.89	$54.89
Revenue/Share	$31.45	$32.37	$32.43	$32.61	$34.00	$37.21	$41.73	$46.82	$51.21	$55.02	$57.92	$60.58	$62.99	$64.14	$66.07	$68.04	$70.37	$72.18	$75.47	$79.43	$80.54
FCF/Share	$3.33	$17.74	$2.79	$8.65	$2.94	$-5.64	$-11.81	$-26.82	$-20.11	$-22.71	$-14.12	$-6.60	$-19.70	$-1.31	$-18.96	$-13.15	$-4.24	$-11.23	$-0.66	$-9.85	$-9.98
OCF/Share	$4.54	$19.03	$4.18	$10.23	$4.68	$-3.81	$-9.92	$-24.88	$-18.13	$-20.61	$-11.95	$-4.42	$-17.52	$0.85	$-16.86	$-11.09	$-2.31	$-11.23	$-0.63	$-9.78	$-9.92
Cash/Share	$279.81	$280.31	$286.37	$235.24	$229.31	$278.65	$250.19	$241.14	$251.99	$283.89	$268.63	$246.10	$270.07	$249.74	$54.73	$135.59	$64.69	$338.96	$414.15	$543.67	$551.28
EBITDA/Share	$13.02	$13.38	$13.21	$12.65	$11.91	$10.77	$10.38	$10.15	$10.08	$9.88	$10.36	$11.39	$12.25	$14.15	$14.87	$15.30	$16.49	$16.71	$17.53	$18.42	$18.42
Debt/Share	$166.68	$171.07	$170.20	$173.88	$169.86	$183.89	$192.03	$189.36	$203.00	$208.38	$228.27	$222.23	$232.85	$224.18	$248.08	$274.32	$260.28	$298.53	$247.48	$329.30	$329.30
Net Debt/Share	$-113.13	$-109.24	$-116.17	$-61.36	$-59.45	$-94.76	$-58.16	$-51.78	$-48.99	$-75.51	$-40.36	$-23.87	$-37.22	$-25.56	$193.35	$138.72	$195.59	$-40.43	$-166.67	$-214.37	$-214.37

Academic Models

Metric	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-B Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.257
Altman Z-Prime	snapshot only																				1.141
Piotroski F-Score	6	7	5	5	5	3	3	3	4	4	4	5	5	6	5	4	5	6	7	7	7
Beneish M-Score	-2.11	-2.53	-2.56	-2.53	-2.31	-2.11	-1.99	-1.80	-2.03	-2.06	-2.18	-2.19	-2.13	-2.40	-2.03	-2.13	-2.02	-2.08	-2.34	-2.20	-2.204
Ohlson O-Score	snapshot only																				-7.346
ROIC (Greenblatt)	snapshot only																				13.29%
Net-Net WC	snapshot only																				$-334.65

Credit

Metric	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																				A
Credit Score	70.50	71.40	67.20	65.00	66.20	60.50	60.50	58.25	58.25	56.75	52.95	57.50	60.50	64.10	49.50	52.20	52.00	68.50	74.10	72.85	72.850
Credit Grade	snapshot only																				6
Credit Trend	snapshot only																				20.650
Implied Spread (bps)	snapshot only																				150.000

MS-PF NYSE

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

Sign in to InsiderStreet