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MSM NYSE

MSC Industrial Direct Co., Inc.
1W: +7.3% 1M: +11.7% 3M: +8.2% YTD: +53.1% 1Y: +44.0% 3Y: +46.3% 5Y: +90.0%
$130.12
+1.62 (+1.26%)
 
Weekly Expected Move ±3.4%
$121 $126 $130 $134 $139
NYSE · Industrials · Industrial - Distribution · Tech Score Strong Buy · Power 68 · $7.3B mcap · 46M float · 1.60% daily turnover · Short 57% 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
36.5 / 100
NoneWeakNarrowWide
Primary source: Efficient Scale  ·  ROIC: 13.6%  ·  5Y Avg: 13.8%
Cost Advantage
30
Intangibles
26
Switching Cost
12
Network Effect
50
Scale ★
90
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. MSM has No discernible competitive edge (36.5/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 13.6% 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
$130
Low
$145
Avg Target
$155
High
Based on 4 analysts since Jul 1, 2026 earnings
Analyst Recommendations
Strong Buy: 0Buy: 10Hold: 18Sell: 1Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$155.00
Analysts1
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-07-13 Redburn Partners — Initiated $155 — +26.0% $123.02
2026-07-02 D.A. Davidson — Initiated $150 — +21.6% $123.34
2026-07-01 Jefferies — $85 $130 +45 +5.4% $123.34
2026-07-01 KeyBanc Ken Newman $120 $145 +25 +17.6% $123.34
2026-06-15 Industrial Alliance Securities Chris Dankert $95 $145 +50 +26.9% $114.22
2026-06-02 KeyBanc — $117 $120 +3 +7.3% $111.88
2026-04-27 KeyBanc — $105 $117 +12 +19.6% $97.83
2026-02-06 Industrial Alliance Securities — $89 $95 +6 +0.1% $94.95
2026-01-08 Robert W. Baird — $84 $94 +10 +13.9% $82.56
2026-01-08 Jefferies Stephen Volkmann Initiated $85 — +4.8% $81.08
2025-05-27 Industrial Alliance Securities Patrick Baumann Initiated $89 — +6.2% $83.81
2024-06-14 Robert W. Baird David Manthey $95 $84 -11 +9.6% $76.64
2024-05-28 Robert W. Baird David Manthey $100 $95 -5 +10.2% $86.20
2024-03-27 Loop Capital Markets Chris Dankert Initiated $124 — +24.7% $99.40
2023-04-21 KeyBanc Ken Newman Initiated $105 — +15.2% $91.19
2023-04-05 Stephens Tommy Moll Initiated $100 — +17.1% $85.39
2022-06-30 Robert W. Baird — Initiated $100 — +34.7% $74.22

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
5
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. MSM receives an overall rating of B+. Strongest factors: DCF (4/5), ROE (5/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (2/5).
Rating Change History
DateFromTo
2026-10-01 A- B+
2026-07-01 B+ A-
2026-05-12 A- B+
2026-04-27 B+ A-
2026-04-01 B B+
2026-04-01 A- B
2026-03-04 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.

★ ★ ★ ★ ★ 60 Grade A
Profitability
47
Balance Sheet
69
Earnings Quality
83
Growth
54
Value
49
Momentum
82
Safety
100
Cash Flow
48
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. MSM scores highest in Safety (100/100) and lowest in Profitability (47/100). An overall grade of A places MSM among the highest-quality companies in its peer group.

Risk & Quality Signals

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

Altman Z-Score
5.89
Safe Zone
Piotroski F-Score
7/9
✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓
Beneish M-Score
-2.59
Unlikely Manipulator
Ohlson O-Score
-8.51
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
AA
Score: 86.6/100
Trend: Improving
Earnings Quality
100/100
OCF/NI: 1.33x
Accruals: -3.0%
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. MSM scores 5.89, 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. MSM 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. MSM's score of -2.59 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. MSM'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. MSM receives an estimated rating of AA (score: 86.6/100), 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). MSM's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

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

P/E
31.43x
PEG
1.85x
P/S
1.86x
P/B
5.12x
P/FCF
27.87x
P/OCF
20.04x
EV/EBITDA
15.30x
EV/Revenue
1.69x
EV/EBIT
19.88x
EV/FCF
30.06x
Earnings Yield
3.76%
FCF Yield
3.59%
Shareholder Yield
3.38%
Graham Number
$48.46
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 31.4x earnings, MSM commands a growth premium. Graham's intrinsic value formula yields $48.46 per share, 168% 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
0.759
NI / EBT
×
Interest Burden
0.914
EBT / EBIT
×
EBIT Margin
0.085
EBIT / Rev
×
Asset Turnover
1.573
Rev / Assets
×
Equity Multiplier
1.784
Assets / Equity
=
ROE
16.5%
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. MSM's ROE of 16.5% is driven by Asset Turnover (1.573), 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
$158.53
Price/Value
0.69x
Margin of Safety
30.95%
Premium
-30.95%
Assessment
Neutral
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with MSM's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. MSM trades at a -31% premium to its adjusted intrinsic value of $158.53, 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 31.4x.

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
$130.06
Median 1Y
$144.15
5th Pctile
$90.30
95th Pctile
$230.43
Ann. Volatility
27.5%
Analyst Target
$155.00
25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

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

C-Suite Compensation

ExecutiveSalaryStockTotal
Erik Gershwind
Chief Executive Officer
$871,411 $3,549,966 $5,873,837
Martina McIsaac Operating
and Chief Operating Officer
$625,327 $899,892 $2,241,188
Kristen Actis-Grande Financial
ecutive Vice President and Chief Financial Officer
$600,000 $849,969 $1,475,980
Neal Dongre President,
e President, General Counsel and Corporate Secretary
$457,308 $449,946 $1,140,333
Kimberly Shacklett President,
e President, Customer Experience
$428,433 $399,862 $1,055,242
Gregory Clark Interim
esident and Interim Chief Financial Officer
$312,279 $149,928 $622,362

CEO Pay Ratio

Insufficient data for pay ratio.

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
7,077
-1.6% YoY
Revenue / Employee
$532,644
Rev: $3,769,521,000
Profit / Employee
$28,166
NI: $199,328,000
SGA / Employee
—
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 Trend 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 Q3'26 Current
ROE 17.6% 21.2% 25.4% 24.7% 27.2% 27.6% 27.5% 25.8% 24.3% 23.9% 22.3% 20.1% 18.0% 17.1% 15.5% 14.3% 14.3% 14.8% 15.1% 16.5% 16.55%
ROA 9.0% 10.2% 12.2% 12.0% 13.1% 13.5% 14.3% 14.0% 13.0% 12.6% 12.5% 11.6% 10.3% 9.5% 8.6% 8.0% 8.1% 8.2% 8.4% 9.3% 9.28%
ROIC 13.2% 13.8% 14.7% 15.4% 16.5% 16.9% 19.4% 19.6% 19.0% 18.3% 17.5% 16.8% 15.7% 14.9% 13.3% 12.6% 12.6% 12.5% 12.8% 13.6% 13.58%
ROCE 15.9% 17.7% 20.7% 20.8% 23.4% 24.4% 27.0% 27.2% 25.3% 24.7% 23.3% 21.6% 19.8% 18.3% 16.8% 15.8% 16.6% 16.7% 17.5% 19.9% 19.90%
Gross Margin 39.9% 41.6% 42.5% 42.9% 41.9% 41.5% 41.3% 40.7% 40.5% 41.2% 41.5% 40.9% 41.0% 40.7% 41.0% 41.0% 40.4% 40.7% 41.1% 41.1% 41.11%
Operating Margin 11.7% 11.3% 11.6% 14.6% 13.5% 12.3% 12.1% 13.0% 11.6% 10.7% 10.5% 11.4% 9.8% 8.0% 7.1% 8.9% 9.1% 8.4% 7.3% 10.2% 10.19%
Net Margin 7.9% 7.8% 8.1% 10.4% 10.2% 8.5% 8.2% 9.0% 8.5% 7.3% 6.6% 7.3% 5.8% 5.0% 4.4% 5.9% 5.8% 5.4% 4.6% 7.7% 7.67%
EBITDA Margin 13.8% 13.2% 13.8% 16.6% 26.5% 14.4% 14.1% 14.7% 13.5% 12.2% 11.5% 12.5% 10.9% 9.5% 9.1% 10.7% 10.7% 10.2% 10.2% 12.9% 12.93%
FCF Margin 5.3% 3.6% 2.9% 4.6% 5.0% 5.1% 13.7% 15.0% 15.1% 15.5% 8.7% 8.6% 8.1% 8.7% 8.0% 7.0% 6.4% 4.4% 5.6% 5.6% 5.63%
OCF Margin 6.9% 5.4% 4.8% 6.3% 6.7% 7.0% 15.5% 17.0% 17.4% 17.6% 11.1% 11.2% 10.7% 11.4% 10.9% 9.6% 8.9% 6.9% 7.9% 7.8% 7.82%
ROE 3Y Avg snapshot only 17.16%
ROE 5Y Avg snapshot only 19.78%
ROA 3Y Avg snapshot only 9.68%
ROIC 3Y Avg snapshot only 10.60%
ROIC Economic snapshot only 13.58%
Cash ROA snapshot only 12.25%
Cash ROIC snapshot only 16.09%
CROIC snapshot only 11.57%
NOPAT Margin snapshot only 6.60%
Pretax Margin snapshot only 7.78%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 39.60%
SBC / Revenue snapshot only 0.24%
Valuation
Metric Trend 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 Q3'26 Current
P/E Ratio 18.46 15.96 12.70 13.85 11.53 12.05 11.89 13.26 15.32 15.63 16.79 15.66 17.05 19.58 20.39 22.38 25.05 24.35 25.34 26.59 31.430
P/S Ratio 1.23 1.18 1.10 1.19 1.06 1.13 1.11 1.19 1.31 1.29 1.32 1.17 1.15 1.22 1.16 1.19 1.32 1.31 1.37 1.57 1.859
P/B Ratio 3.48 3.30 3.08 3.22 2.90 3.09 3.05 3.20 3.56 3.74 3.79 3.25 3.17 3.36 3.21 3.25 3.60 3.61 3.79 4.32 5.119
P/FCF 23.45 33.09 38.43 26.22 21.20 22.19 8.10 7.99 8.66 8.36 15.18 13.61 14.16 13.98 14.42 16.85 20.73 29.89 24.40 27.87 27.869
P/OCF 17.83 21.80 23.11 18.95 15.92 16.18 7.15 7.04 7.52 7.35 11.90 10.44 10.74 10.70 10.68 12.31 14.96 19.06 17.42 20.04 20.044
EV/EBITDA 12.30 10.92 9.29 9.90 7.17 7.42 6.95 7.48 10.08 10.52 11.31 10.49 11.00 12.18 12.40 13.13 14.49 14.24 14.37 15.30 15.303
EV/Revenue 1.48 1.40 1.35 1.43 1.28 1.34 1.26 1.31 1.43 1.44 1.47 1.30 1.29 1.35 1.31 1.32 1.45 1.45 1.50 1.69 1.691
EV/EBIT 15.84 13.75 11.30 12.03 10.10 10.33 9.64 10.43 11.97 12.49 13.47 12.54 13.43 15.17 15.82 17.14 19.04 18.78 18.94 19.88 19.879
EV/FCF 28.11 39.49 47.07 31.37 25.62 26.43 9.16 8.77 9.44 9.29 16.88 15.23 15.89 15.55 16.24 18.77 22.74 33.13 26.78 30.06 30.058
Earnings Yield 5.4% 6.3% 7.9% 7.2% 8.7% 8.3% 8.4% 7.5% 6.5% 6.4% 6.0% 6.4% 5.9% 5.1% 4.9% 4.5% 4.0% 4.1% 3.9% 3.8% 3.76%
FCF Yield 4.3% 3.0% 2.6% 3.8% 4.7% 4.5% 12.3% 12.5% 11.5% 12.0% 6.6% 7.3% 7.1% 7.2% 6.9% 5.9% 4.8% 3.3% 4.1% 3.6% 3.59%
PEG Ratio snapshot only 1.854
Price/Tangible Book snapshot only 9.862
EV/OCF snapshot only 21.618
EV/Gross Profit snapshot only 4.143
Acquirers Multiple snapshot only 19.218
Shareholder Yield snapshot only 3.38%
Graham Number snapshot only $48.46
Leverage & Solvency
Metric Trend 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 Q3'26 Current
Current Ratio 2.34 2.30 2.37 2.37 2.13 2.14 2.04 1.93 2.03 2.02 2.01 2.08 1.96 1.93 1.92 1.92 1.68 1.73 1.73 1.55 1.548
Quick Ratio 1.23 1.24 1.27 1.27 1.14 1.15 0.88 0.86 0.91 0.89 0.92 0.94 0.90 0.91 0.88 0.91 0.80 0.82 0.78 0.72 0.719
Debt/Equity 0.73 0.69 0.73 0.66 0.64 0.61 0.43 0.35 0.35 0.43 0.44 0.41 0.41 0.42 0.43 0.42 0.39 0.42 0.40 0.39 0.391
Net Debt/Equity 0.69 0.64 0.69 0.63 0.61 0.59 0.40 0.31 0.32 0.41 0.43 0.39 0.39 0.38 0.40 0.37 0.35 0.39 0.37 0.34 0.339
Debt/Assets 0.34 0.33 0.35 0.32 0.32 0.31 0.24 0.21 0.20 0.24 0.25 0.23 0.23 0.23 0.24 0.23 0.22 0.23 0.23 0.22 0.223
Debt/EBITDA 2.14 1.92 1.79 1.68 1.30 1.23 0.87 0.75 0.92 1.10 1.19 1.17 1.26 1.37 1.49 1.53 1.43 1.50 1.39 1.29 1.286
Net Debt/EBITDA 2.04 1.77 1.71 1.63 1.24 1.19 0.80 0.67 0.83 1.05 1.14 1.12 1.20 1.23 1.39 1.34 1.28 1.39 1.28 1.11 1.114
Interest Coverage 20.87 22.76 27.34 26.81 26.63 23.72 21.96 21.02 21.23 21.99 19.84 17.07 14.30 12.76 12.00 11.57 11.95 12.56 13.36 15.04 15.036
Equity Multiplier 2.14 2.11 2.10 2.02 2.02 1.98 1.78 1.70 1.72 1.80 1.80 1.76 1.77 1.80 1.82 1.81 1.77 1.80 1.77 1.76 1.758
Cash Ratio snapshot only 0.090
Debt Service Coverage snapshot only 19.531
Cash to Debt snapshot only 0.133
FCF to Debt snapshot only 0.396
Defensive Interval snapshot only 142.1 days
Efficiency & Turnover
Metric Trend 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 Q3'26 Current
Asset Turnover 1.34 1.39 1.40 1.39 1.42 1.45 1.53 1.55 1.52 1.53 1.58 1.56 1.53 1.53 1.51 1.51 1.53 1.53 1.56 1.57 1.573
Inventory Turnover 3.39 3.51 3.37 3.19 3.19 3.26 3.23 3.33 3.28 3.30 3.28 3.31 3.28 3.33 3.33 3.36 3.47 3.48 3.43 3.47 3.469
Receivables Turnover 6.17 6.19 5.94 5.68 5.92 6.01 7.55 7.23 7.14 7.28 9.46 9.10 9.02 9.23 9.11 9.02 9.02 9.08 9.97 9.49 9.489
Payables Turnover 12.68 12.50 11.10 10.32 10.57 11.25 11.36 11.45 10.67 11.78 11.30 11.08 10.41 11.26 10.53 10.57 10.36 10.52 10.43 10.46 10.457
DSO 59 59 61 64 62 61 48 50 51 50 39 40 40 40 40 40 40 40 37 38 38.5 days
DIO 108 104 108 114 115 112 113 109 111 111 111 110 111 110 109 108 105 105 106 105 105.2 days
DPO 29 29 33 35 35 32 32 32 34 31 32 33 35 32 35 35 35 35 35 35 34.9 days
Cash Conversion Cycle 138 134 137 143 142 140 129 128 128 130 118 118 117 117 115 114 110 110 108 109 108.8 days
Fixed Asset Turnover snapshot only 11.366
Operating Cycle snapshot only 143.7 days
Cash Velocity snapshot only 52.753
Capital Intensity snapshot only 0.638
Growth (YoY)
Metric Trend 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 Q3'26 Current
Revenue 1.6% 5.7% 8.9% 10.8% 13.8% 14.5% 14.4% 14.2% 8.6% 5.4% 2.0% -2.3% -4.7% -5.2% -5.7% -4.1% -1.3% 0.3% 2.2% 4.4% 4.41%
Net Income -13.6% 9.1% 58.7% 48.2% 56.7% 45.2% 22.9% 19.3% 1.0% -6.7% -13.8% -19.3% -24.7% -28.8% -32.1% -31.7% -22.9% -13.3% -3.0% 16.2% 16.16%
EPS -13.8% 9.1% 59.2% 48.9% 56.2% 44.6% 22.8% 19.2% 0.6% -7.7% -14.5% -19.5% -24.9% -28.0% -31.3% -31.0% -22.2% -13.2% -3.0% 15.7% 15.69%
FCF -51.2% -68.4% -69.3% -41.5% 8.3% 63.5% 4.5% 2.7% 2.3% 2.2% -35.0% -44.1% -48.7% -46.7% -13.2% -21.1% -22.6% -49.6% -28.7% -16.6% -16.56%
EBITDA -11.8% 5.2% 40.4% 35.7% 69.3% 61.2% 41.9% 38.7% -13.9% -20.4% -26.4% -30.7% -20.9% -22.9% -23.8% -22.4% -16.0% -8.1% 1.4% 14.6% 14.64%
Op. Income -6.9% -1.6% 22.6% 32.1% 39.3% 41.0% 27.3% 17.6% 3.7% -4.1% -10.7% -15.2% -17.6% -20.7% -25.0% -26.3% -22.6% -15.2% -5.7% 8.0% 8.01%
OCF Growth snapshot only -15.23%
Asset Growth snapshot only 0.81%
Equity Growth snapshot only 3.83%
Debt Growth snapshot only -3.57%
Shares Change snapshot only 0.40%
Dividend Growth snapshot only 1.87%
Growth (CAGR)
Metric Trend 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 Q3'26 Current
Revenue 3Y 0.4% 0.5% 0.9% 1.4% 3.2% 4.2% 5.5% 6.7% 7.9% 8.4% 8.3% 7.3% 5.6% 4.6% 3.3% 2.3% 0.7% 0.0% -0.6% -0.7% -0.73%
Revenue 5Y 2.5% 3.2% 3.6% 4.0% 5.0% 5.1% 5.1% 5.1% 4.6% 4.2% 3.7% 3.1% 2.6% 2.5% 2.5% 2.6% 3.4% 3.9% 4.1% 4.3% 4.34%
EPS 3Y -12.6% -10.8% -0.2% 0.3% 5.1% 7.8% 10.6% 10.3% 10.6% 13.3% 18.7% 12.6% 5.7% -1.3% -10.3% -12.8% -16.2% -16.7% -17.1% -13.7% -13.70%
EPS 5Y 0.2% 1.5% 5.3% 5.8% 8.3% 8.6% 4.2% 2.8% 1.0% -1.1% 0.9% -0.7% -2.6% -3.6% -4.5% -5.7% -4.6% -1.9% 2.2% 2.7% 2.66%
Net Income 3Y -13.0% -10.7% 0.2% 0.7% 5.6% 8.2% 10.9% 10.7% 11.0% 13.9% 18.9% 12.6% 6.0% -1.2% -10.4% -13.0% -16.3% -16.8% -17.2% -13.8% -13.79%
Net Income 5Y -1.3% 1.2% 4.8% 5.4% 8.0% 8.4% 3.9% 2.6% 0.8% -0.7% 1.3% -0.3% -2.2% -3.4% -4.4% -5.6% -4.5% -1.8% 2.1% 2.5% 2.53%
EBITDA 3Y -6.9% -4.4% 0.7% 1.5% 12.4% 14.4% 16.3% 15.6% 8.7% 10.5% 13.6% 9.3% 4.8% -0.4% -7.3% -9.3% -17.0% -17.4% -17.1% -14.9% -14.86%
EBITDA 5Y -2.7% -0.9% 2.0% 2.6% 8.3% 8.7% 8.7% 8.0% 3.3% 2.3% 1.3% 0.1% -0.7% -1.7% -2.5% -3.6% -3.1% -0.9% 2.5% 3.0% 3.03%
Gross Profit 3Y -3.2% -2.5% -0.7% 0.5% 2.9% 4.7% 6.3% 7.5% 9.0% 9.4% 10.3% 9.3% 7.5% 5.9% 3.1% 1.6% -0.5% -1.1% -1.5% -1.1% -1.14%
Gross Profit 5Y -0.4% 0.5% 1.7% 2.6% 3.9% 4.1% 4.1% 3.9% 3.4% 3.0% 2.6% 2.2% 1.9% 2.2% 2.4% 2.9% 3.9% 4.4% 5.2% 5.4% 5.40%
Op. Income 3Y -7.0% -6.6% -2.6% -0.1% 3.2% 6.1% 9.2% 9.7% 10.4% 10.0% 11.7% 9.6% 6.0% 2.4% -5.2% -9.8% -12.9% -13.6% -14.2% -12.3% -12.28%
Op. Income 5Y -2.0% -1.3% 1.0% 2.8% 4.6% 5.1% 5.1% 4.2% 3.1% 2.0% 1.0% -0.1% -1.2% -1.9% -2.7% -3.8% -3.0% -2.2% -0.3% 1.0% 0.96%
FCF 3Y -16.6% -25.8% -28.6% -13.5% -12.6% -11.9% 17.3% 25.2% 20.2% 18.4% 2.9% 7.0% 22.2% 41.0% 45.5% 18.3% 9.2% -4.8% -26.2% -28.3% -28.33%
FCF 5Y -11.4% -15.2% -15.6% -2.8% -1.6% -1.7% 18.4% 16.5% 15.5% 16.5% 5.2% 6.3% 2.4% 3.2% -1.9% -2.8% -7.2% -14.9% -7.6% -4.2% -4.20%
OCF 3Y -12.9% -18.8% -20.1% -9.4% -9.2% -7.7% 16.2% 23.9% 20.8% 19.3% 7.2% 10.7% 22.3% 34.1% 35.7% 17.8% 10.7% -0.4% -20.8% -23.3% -23.31%
OCF 5Y -11.0% -12.8% -12.3% -4.3% -0.1% 0.9% 17.7% 16.4% 15.5% 16.1% 6.7% 8.0% 4.6% 5.1% 1.1% 0.3% -3.4% -8.8% -3.5% -1.0% -0.98%
Assets 3Y 2.5% 3.3% 2.8% 4.1% 5.7% 5.5% 2.0% -2.3% 2.2% 2.9% 2.8% 0.6% 0.0% -0.3% -1.4% -1.9% -3.4% -3.3% -1.0% -0.4% -0.41%
Assets 5Y 3.6% 4.5% 4.6% 5.0% 5.4% 5.5% 3.1% 2.3% 2.1% 1.9% 1.2% 1.2% 1.3% 1.1% 0.7% -1.8% 0.7% 1.7% 1.3% 0.6% 0.58%
Equity 3Y -6.0% -4.9% -4.4% -3.6% -3.0% -2.8% 4.2% 4.8% 4.0% 7.2% 7.7% 7.0% 6.5% 5.2% 3.5% 1.8% 0.9% -0.1% -0.9% -1.6% -1.59%
Book Value 3Y -5.7% -4.9% -4.7% -4.0% -3.4% -3.2% 3.9% 4.4% 3.7% 6.6% 7.5% 7.0% 6.2% 5.0% 3.6% 2.0% 1.0% -0.1% -0.8% -1.5% -1.49%
Dividend 3Y -6.2% -10.3% -23.0% -23.1% -23.1% -13.3% 0.7% 1.1% 1.5% -5.8% 1.7% 2.0% 1.6% 1.3% 1.1% 0.9% 0.5% 0.6% 0.7% 0.9% 0.86%
Growth Quality
Metric Trend 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 Q3'26 Current
Revenue Stability 0.55 0.53 0.55 0.60 0.70 0.68 0.68 0.67 0.71 0.68 0.65 0.61 0.63 0.64 0.62 0.58 0.58 0.56 0.50 0.49 0.493
Earnings Stability 0.00 0.00 0.00 0.00 0.03 0.05 0.05 0.03 0.04 0.03 0.20 0.14 0.07 0.04 0.02 0.00 0.01 0.02 0.02 0.04 0.042
Margin Stability 0.94 0.94 0.94 0.95 0.95 0.95 0.95 0.96 0.96 0.96 0.96 0.96 0.97 0.98 0.99 0.99 0.98 0.98 0.97 0.98 0.975
Rev. Growth Consistency 0.50 0.50 0.50 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.500
Earn. Growth Consistency 0.00 0.50 0.50 0.50 0.50 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 0.50 0.500
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 0.95 0.96 0.50 0.81 0.50 0.82 0.91 0.92 1.00 0.97 0.94 0.92 0.90 0.88 0.87 0.87 0.91 0.95 0.99 0.94 0.935
Earnings Smoothness 0.85 0.91 0.55 0.61 0.56 0.63 0.79 0.82 0.99 0.93 0.85 0.79 0.72 0.66 0.62 0.62 0.74 0.86 0.97 0.85 0.850
ROE Trend -0.00 0.01 0.05 0.04 0.06 0.05 0.05 0.04 0.01 0.01 -0.02 -0.03 -0.06 -0.08 -0.08 -0.08 -0.07 -0.06 -0.04 -0.01 -0.014
Gross Margin Trend -0.02 -0.01 0.01 0.02 0.03 0.03 0.02 0.01 0.00 0.00 -0.01 -0.01 -0.00 -0.01 -0.01 -0.00 -0.00 -0.00 -0.00 -0.00 -0.001
FCF Margin Trend -0.04 -0.07 -0.07 -0.04 -0.03 -0.03 0.07 0.08 0.10 0.11 0.00 -0.01 -0.02 -0.02 -0.03 -0.05 -0.05 -0.08 -0.03 -0.02 -0.022
Sustainable Growth Rate -11.8% -6.6% 11.1% 11.0% 13.8% 11.2% 14.5% 13.3% 11.8% 10.9% 9.4% 7.3% 5.0% 3.5% 1.8% 0.7% 0.7% 1.0% 1.1% 2.7% 2.68%
Internal Growth Rate — — 5.6% 5.6% 7.1% 5.8% 8.2% 7.8% 6.7% 6.1% 5.5% 4.4% 2.9% 2.0% 1.0% 0.4% 0.4% 0.6% 0.6% 1.5% 1.53%
Cash Flow Quality
Metric Trend 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 Q3'26 Current
OCF/Net Income 1.03 0.73 0.55 0.73 0.72 0.74 1.66 1.88 2.04 2.13 1.41 1.50 1.59 1.83 1.91 1.82 1.67 1.28 1.45 1.33 1.326
FCF/OCF 0.76 0.66 0.60 0.72 0.75 0.73 0.88 0.88 0.87 0.88 0.78 0.77 0.76 0.77 0.74 0.73 0.72 0.64 0.71 0.72 0.719
FCF/Net Income snapshot only 0.954
OCF/EBITDA snapshot only 0.708
CapEx/Revenue 1.7% 1.8% 1.9% 1.7% 1.7% 1.9% 1.8% 2.0% 2.3% 2.1% 2.4% 2.6% 2.6% 2.7% 2.8% 2.6% 2.5% 2.5% 2.2% 2.2% 2.20%
CapEx/Depreciation snapshot only 0.864
Accruals Ratio -0.00 0.03 0.05 0.03 0.04 0.03 -0.09 -0.12 -0.14 -0.14 -0.05 -0.06 -0.06 -0.08 -0.08 -0.07 -0.05 -0.02 -0.04 -0.03 -0.030
Sloan Accruals snapshot only -0.097
Cash Flow Adequacy snapshot only 1.096
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend 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 Q3'26 Current
Dividend Yield 9.1% 8.2% 4.4% 4.0% 4.3% 4.9% 4.0% 3.7% 3.4% 3.5% 3.5% 4.1% 4.2% 4.1% 4.3% 4.3% 3.8% 3.8% 3.7% 3.2% 2.67%
Dividend/Share $6.49 $5.74 $2.99 $2.98 $2.99 $3.77 $3.07 $3.10 $3.14 $3.17 $3.23 $3.28 $3.32 $3.35 $3.37 $3.39 $3.39 $3.41 $3.43 $3.45 $3.48
Payout Ratio 1.7% 1.3% 56.4% 55.4% 49.3% 59.6% 47.2% 48.5% 51.5% 54.2% 58.1% 63.7% 72.4% 79.5% 88.2% 95.1% 95.1% 93.3% 92.7% 83.8% 83.78%
FCF Payout Ratio 2.1% 2.7% 1.7% 1.0% 90.6% 1.1% 32.2% 29.2% 29.1% 29.0% 52.5% 55.3% 60.2% 56.8% 62.4% 71.6% 78.7% 1.1% 89.3% 87.8% 87.82%
Total Payout Ratio 2.0% 1.6% 80.9% 63.9% 57.3% 71.2% 62.0% 63.3% 79.4% 1.2% 1.3% 1.4% 1.5% 1.1% 1.2% 1.3% 1.1% 1.1% 1.0% 89.9% 89.88%
Div. Increase Streak 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1
Chowder Number -0.09 -0.20 -0.49 -0.50 -0.50 -0.29 0.07 0.08 0.09 -0.12 0.09 0.10 0.10 0.08 0.08 0.06 0.05 0.05 0.06 0.05 0.054
Buyback Yield 1.8% 1.9% 1.9% 0.6% 0.7% 1.0% 1.2% 1.1% 1.8% 4.0% 4.0% 5.1% 4.3% 1.6% 1.6% 1.3% 0.8% 0.7% 0.4% 0.2% 0.23%
Net Buyback Yield 0.9% 1.0% 1.0% -0.0% -0.3% 0.0% 0.3% 0.3% 1.2% 3.4% 3.5% 4.7% 3.9% 1.4% 1.5% 1.2% 0.5% 0.4% 0.2% 0.0% 0.03%
Total Shareholder Return 10.0% 9.2% 5.4% 4.0% 4.0% 5.0% 4.3% 3.9% 4.6% 6.9% 7.0% 8.7% 8.2% 5.5% 5.8% 5.5% 4.3% 4.3% 3.9% 3.2% 3.18%
DuPont Factors
Metric Trend 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 Q3'26 Current
Tax Burden (NI/EBT) 0.75 0.76 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.75 0.76 0.76 0.75 0.76 0.75 0.75 0.76 0.76 0.75 0.76 0.759
Interest Burden (EBT/EBIT) 0.95 0.96 0.96 0.96 0.96 0.96 0.95 0.95 0.95 0.95 0.95 0.94 0.93 0.92 0.92 0.91 0.92 0.92 0.90 0.91 0.914
EBIT Margin 0.09 0.10 0.12 0.12 0.13 0.13 0.13 0.13 0.12 0.11 0.11 0.10 0.10 0.09 0.08 0.08 0.08 0.08 0.08 0.09 0.085
Asset Turnover 1.34 1.39 1.40 1.39 1.42 1.45 1.53 1.55 1.52 1.53 1.58 1.56 1.53 1.53 1.51 1.51 1.53 1.53 1.56 1.57 1.573
Equity Multiplier 1.96 2.07 2.08 2.07 2.08 2.04 1.92 1.85 1.86 1.89 1.79 1.73 1.74 1.80 1.81 1.79 1.77 1.80 1.79 1.78 1.784
Per Share
Metric Trend 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 Q3'26 Current
EPS (Diluted TTM) $3.88 $4.38 $5.29 $5.38 $6.06 $6.33 $6.50 $6.41 $6.10 $5.84 $5.56 $5.16 $4.58 $4.21 $3.82 $3.56 $3.57 $3.65 $3.70 $4.12 $4.12
Book Value/Share $20.59 $21.18 $21.87 $23.10 $24.09 $24.72 $25.37 $26.52 $26.29 $24.42 $24.63 $24.87 $24.66 $24.53 $24.29 $24.52 $24.84 $24.67 $24.75 $25.35 $25.42
Tangible Book/Share $6.37 $7.03 $7.78 $9.09 $9.38 $10.09 $10.44 $11.69 $11.56 $9.87 $9.95 $10.24 $10.04 $9.91 $9.70 $9.94 $10.36 $10.30 $10.40 $11.10 $11.10
Revenue/Share $58.02 $59.44 $60.90 $62.39 $65.85 $67.78 $69.65 $71.16 $71.25 $70.62 $70.47 $69.28 $67.70 $67.69 $67.18 $67.13 $67.45 $68.01 $68.56 $69.81 $70.00
FCF/Share $3.05 $2.11 $1.75 $2.84 $3.30 $3.44 $9.54 $10.64 $10.79 $10.92 $6.15 $5.93 $5.52 $5.89 $5.40 $4.73 $4.31 $2.98 $3.85 $3.93 $3.94
OCF/Share $4.02 $3.21 $2.91 $3.93 $4.39 $4.71 $10.81 $12.07 $12.43 $12.42 $7.85 $7.74 $7.28 $7.69 $7.29 $6.47 $5.97 $4.67 $5.39 $5.46 $5.48
Cash/Share $0.73 $1.13 $0.75 $0.51 $0.78 $0.47 $0.89 $1.04 $0.89 $0.45 $0.39 $0.46 $0.52 $1.02 $0.74 $1.29 $1.01 $0.72 $0.83 $1.32 $1.33
EBITDA/Share $6.98 $7.63 $8.87 $9.00 $11.79 $12.25 $12.57 $12.46 $10.11 $9.64 $9.18 $8.61 $7.97 $7.52 $7.07 $6.76 $6.76 $6.92 $7.17 $7.72 $7.72
Debt/Share $14.96 $14.63 $15.87 $15.15 $15.35 $15.06 $10.99 $9.36 $9.27 $10.59 $10.90 $10.08 $10.07 $10.27 $10.56 $10.33 $9.64 $10.36 $10.00 $9.92 $9.92
Net Debt/Share $14.24 $13.50 $15.12 $14.64 $14.58 $14.59 $10.10 $8.32 $8.38 $10.13 $10.50 $9.62 $9.54 $9.25 $9.82 $9.04 $8.63 $9.64 $9.17 $8.60 $8.60
Academic Models
Metric Trend 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 Q3'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — 5.894
Altman Z-Prime snapshot only 8.653
Piotroski F-Score 4 6 7 8 6 5 6 6 6 5 5 5 4 5 5 5 5 5 6 7 7
Beneish M-Score -2.38 -2.24 -2.18 -2.21 -2.13 -2.15 -3.14 -3.29 -3.44 -3.54 -2.70 -2.80 -2.82 -2.86 -2.93 -2.83 -3.06 -2.37 -2.72 -2.59 -2.592
Ohlson O-Score snapshot only -8.514
ROIC (Greenblatt) snapshot only 41.78%
Net-Net WC snapshot only $3.58
EVA snapshot only $68085646.75
Credit
Metric Trend 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 Q3'26 Current
Credit Rating snapshot only AA
Credit Score 84.52 85.16 85.07 86.26 87.34 87.37 95.46 95.93 95.58 94.02 91.12 91.25 89.11 90.12 89.63 85.26 85.55 83.52 85.18 86.58 86.580
Credit Grade snapshot only 3
Credit Trend snapshot only 1.322
Implied Spread (bps) snapshot only 80.000
Industry Credit Rank snapshot only 76
Sector Credit Rank snapshot only 80

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