Also trades as: 0K5R.L (LSE) · $vol 0M

$8.42

+0.00 (+0.00%)

Weekly Expected Move ±4.6%

$8 $8 $8 $9 $9

NASDAQ · Financial Services · Financial - Credit Services · Tech Score Sell · Power 34 · $789.7M mcap · 92M float · 1.32% daily turnover · Short 51% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $614.7M held by 306 funds, 454 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

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.

WEAK EDGE

42.8 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 1.9% · 5Y Avg: 0.7%

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. NAVI shows a Weak competitive edge (42.8/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. ROIC of 1.9% 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

Low

$10

Avg Target

$10

High

Based on 6 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 5Hold: 15Sell: 4Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$9.67

Analysts6

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-04-30	Barclays	Terry Ma	$9	$8	-1	-15.9%	$9.51
2026-04-16	Morgan Stanley	—	$12	$9	-3	+6.4%	$8.46
2026-01-29	Deutsche Bank	Mark DeVries	Initiated	$9	—	-5.4%	$9.51
2026-01-29	Barclays	—	$11	$9	-2	-8.3%	$9.81
2026-01-28	Morgan Stanley	Jeffrey Adelson	$16	$12	-4	+22.3%	$9.81
2026-01-06	Barclays	—	Initiated	$11	—	-15.4%	$13.01
2024-09-30	Bank of America Securities	Nathaniel Richam-Odoi	Initiated	$17	—	+10.2%	$15.42
2022-11-30	Morgan Stanley	Jeffrey Adelson	Initiated	$16	—	-3.4%	$16.57

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 27, 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. NAVI receives an overall rating of B-. Strongest factors: DCF (5/5), P/B (5/5). Areas of concern: ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-10-12	C+	B-
2026-08-14	B-	C+
2026-08-10	C	B-
2026-08-07	B-	C
2026-07-01	C+	B-
2026-04-29	C	C+
2026-04-29	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.

★ ★ ★ ★ ★ 23 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

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. NAVI scores highest in Cash Flow (56/100) and lowest in Growth (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

1.49

Distress Zone

Piotroski F-Score

5/9

✗ ✓ ✗ ✓ ✓ ✗ ✓ ✓ ✗

Beneish M-Score

-2.86

Unlikely Manipulator

Ohlson O-Score

-4.88

Bankruptcy prob: 0.8%

Low Risk

Credit Rating

CCC

Score: 15.2/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -6.94x

Accruals: -0.8%

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. NAVI scores 1.49, placing it in the Distress Zone (safe > 3.0, distress < 1.5). Historically, companies in this range face elevated bankruptcy risk. 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. NAVI 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. NAVI's score of -2.86 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. NAVI's implied 0.8% 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. NAVI receives an estimated rating of CCC (score: 15.2/100), with a deteriorating trend.

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

-17.18x

PEG

0.08x

P/S

0.27x

P/B

0.33x

P/FCF

2.40x

P/OCF

2.40x

EV/EBITDA

39.72x

EV/Revenue

14.64x

EV/EBIT

39.90x

EV/FCF

126.51x

Earnings Yield

-6.00%

FCF Yield

41.62%

Shareholder Yield

17.01%

Graham Number

—

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. NAVI currently has negative earnings — the P/E ratio is not meaningful.

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

0.925

NI / EBT

Interest Burden

-0.049

EBT / EBIT

EBIT Margin

0.367

EBIT / Rev

Asset Turnover

0.060

Rev / Assets

Equity Multiplier

19.653

Assets / Equity

ROE

-2.0%

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. NAVI's ROE of -2.0% is driven by financial leverage (equity multiplier: 19.65x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 0.92 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

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

—

Price/Value

—

Margin of Safety

—

Premium

—

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

$8.42

Median 1Y

$7.49

5th Pctile

$3.65

95th Pctile

$15.53

Ann. Volatility

44.7%

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

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

670

-68.1% YoY

Revenue / Employee

$4,819,403

Rev: $3,229,000,000

Profit / Employee

$-119,403

NI: $-80,000,000

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	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	36.7%	28.5%	21.7%	21.2%	18.6%	23.1%	17.3%	13.2%	12.3%	7.9%	6.6%	5.6%	2.8%	4.9%	2.1%	1.3%	-1.9%	-3.1%	-2.4%	-2.0%	-1.98%
ROA	1.1%	0.9%	0.7%	0.7%	0.7%	0.9%	0.7%	0.5%	0.5%	0.3%	0.3%	0.3%	0.1%	0.2%	0.1%	0.1%	-0.1%	-0.2%	-0.1%	-0.1%	-0.10%
ROIC	1.1%	0.9%	0.8%	0.8%	0.7%	0.9%	0.8%	0.6%	0.6%	0.4%	0.3%	0.3%	0.2%	0.3%	0.1%	0.1%	-0.1%	0.9%	0.9%	1.9%	1.94%
ROCE	1.5%	1.2%	1.1%	1.1%	1.0%	1.3%	1.0%	0.8%	0.8%	0.6%	0.4%	0.4%	0.2%	0.4%	0.2%	0.1%	-0.2%	1.2%	1.2%	2.5%	2.50%
Gross Margin	58.6%	61.2%	64.1%	52.9%	35.1%	27.8%	29.0%	24.1%	26.9%	15.2%	23.7%	21.4%	13.4%	21.1%	15.2%	14.8%	-0.9%	88.4%	18.8%	96.0%	96.04%
Operating Margin	26.2%	-1.1%	39.1%	29.5%	13.3%	10.1%	12.4%	7.8%	8.5%	-3.1%	7.6%	4.4%	1.2%	2.7%	-0.6%	2.2%	-14.6%	82.3%	1.6%	84.0%	84.02%
Net Margin	20.6%	-1.3%	30.0%	21.8%	10.2%	9.3%	9.6%	5.4%	6.1%	-2.4%	6.3%	3.3%	-0.2%	2.5%	-0.2%	1.7%	-10.8%	-0.7%	2.4%	3.7%	3.67%
EBITDA Margin	26.2%	-1.1%	39.1%	29.5%	13.3%	10.1%	12.4%	7.8%	8.5%	-3.1%	7.6%	4.4%	1.2%	2.7%	-0.6%	2.4%	-14.6%	80.8%	2.2%	83.6%	83.58%
FCF Margin	19.6%	19.9%	12.3%	11.9%	7.5%	7.9%	13.5%	11.4%	11.9%	14.0%	14.7%	19.0%	17.3%	10.8%	8.9%	5.4%	8.1%	13.8%	10.5%	11.6%	11.57%
OCF Margin	19.6%	19.9%	12.3%	11.9%	7.5%	7.9%	13.5%	11.4%	11.9%	14.0%	14.7%	19.0%	17.3%	10.8%	8.9%	5.4%	8.1%	13.8%	10.5%	11.6%	11.57%
ROE 3Y Avg	snapshot only																				1.70%
ROE 5Y Avg	snapshot only																				7.74%
ROA 3Y Avg	snapshot only																				0.08%
ROIC 3Y Avg	snapshot only																				0.72%
ROIC Economic	snapshot only																				1.85%
Cash ROA	snapshot only																				0.72%
Cash ROIC	snapshot only																				0.76%
CROIC	snapshot only																				0.76%
NOPAT Margin	snapshot only																				29.39%
Pretax Margin	snapshot only																				-1.80%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				4.12%
SBC / Revenue	snapshot only																				0.51%

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	3.03	3.85	3.70	2.97	3.41	3.01	3.69	5.39	5.23	9.12	9.65	9.52	20.11	10.54	22.18	40.88	-25.66	-13.71	-13.09	-16.67	-17.184
P/S Ratio	0.77	0.78	0.66	0.53	0.51	0.51	0.45	0.46	0.39	0.43	0.38	0.32	0.36	0.33	0.32	0.38	0.38	0.34	0.26	0.28	0.269
P/B Ratio	1.02	1.06	0.79	0.61	0.61	0.65	0.62	0.71	0.65	0.75	0.66	0.55	0.59	0.52	0.48	0.54	0.53	0.45	0.33	0.34	0.334
P/FCF	3.92	3.93	5.38	4.45	6.79	6.37	3.30	4.02	3.29	3.08	2.57	1.71	2.09	3.01	3.57	7.13	4.67	2.46	2.43	2.40	2.403
P/OCF	3.92	3.93	5.38	4.45	6.79	6.37	3.30	4.02	3.29	3.08	2.57	1.71	2.09	3.01	3.57	7.13	4.67	2.46	2.43	2.40	2.403
EV/EBITDA	67.69	84.04	97.39	93.40	100.56	81.99	101.42	128.28	131.51	188.39	209.92	255.62	429.98	283.47	599.45	920.01	-611.64	87.28	85.24	39.72	39.718
EV/Revenue	22.21	22.29	22.57	21.90	19.96	17.66	15.62	13.85	12.66	12.23	11.19	11.41	10.93	11.65	12.45	13.23	13.81	13.99	14.81	14.64	14.641
EV/EBIT	67.69	84.04	97.39	93.40	100.56	81.99	101.42	128.28	131.51	188.39	209.92	255.62	429.98	283.47	599.45	938.05	-603.80	87.62	86.21	39.90	39.903
EV/FCF	113.10	111.93	184.19	184.23	266.14	222.30	115.93	121.36	106.49	87.51	75.96	60.11	63.28	107.46	139.53	245.34	171.26	101.33	140.39	126.51	126.515
Earnings Yield	33.0%	26.0%	27.0%	33.6%	29.3%	33.2%	27.1%	18.6%	19.1%	11.0%	10.4%	10.5%	5.0%	9.5%	4.5%	2.4%	-3.9%	-7.3%	-7.6%	-6.0%	-6.00%
FCF Yield	25.5%	25.4%	18.6%	22.5%	14.7%	15.7%	30.3%	24.9%	30.4%	32.5%	38.9%	58.6%	47.9%	33.2%	28.0%	14.0%	21.4%	40.7%	41.1%	41.6%	41.62%
PEG Ratio	snapshot only																				0.084
Price/Tangible Book	snapshot only																				0.415
EV/OCF	snapshot only																				126.515
EV/Gross Profit	snapshot only																				29.625
Acquirers Multiple	snapshot only																				39.355
Shareholder Yield	snapshot only																				17.01%

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	0.81	0.87	0.72	0.80	0.75	0.76	0.55	0.69	0.64	0.66	—	0.71	0.79	0.55	0.52	0.55	0.51	0.41	0.75	0.51	0.508
Quick Ratio	0.81	0.87	0.72	0.80	0.75	0.76	0.55	0.69	0.64	0.66	—	0.71	0.79	0.55	0.52	0.55	0.51	0.41	0.75	0.51	0.508
Debt/Equity	28.65	29.54	26.46	24.84	23.66	22.64	21.48	21.23	20.74	20.98	19.98	19.38	18.32	18.43	18.52	18.39	19.02	19.05	18.99	18.49	18.489
Net Debt/Equity	28.27	29.19	26.21	24.51	23.20	22.12	21.28	20.78	20.40	20.68	18.92	18.98	17.29	18.15	18.27	18.12	18.78	18.18	18.73	17.60	17.597
Debt/Assets	0.95	0.95	0.96	0.96	0.96	0.95	0.95	0.95	0.95	0.94	0.94	0.94	0.92	0.94	0.94	0.94	0.94	0.94	0.94	0.94	0.937
Debt/EBITDA	66.23	82.05	95.45	92.39	99.93	81.49	99.42	126.71	129.55	184.44	214.24	253.54	440.73	279.68	592.04	906.98	-602.39	89.27	84.93	40.94	40.939
Net Debt/EBITDA	65.34	81.09	94.54	91.15	97.99	79.64	98.53	124.03	127.44	181.77	202.82	248.36	415.79	275.53	584.11	893.29	-594.97	85.16	83.76	38.96	38.964
Interest Coverage	0.85	0.71	0.61	0.60	0.43	0.39	0.24	0.15	0.14	0.09	0.07	0.06	0.03	0.05	0.03	0.02	-0.03	0.20	0.21	0.45	0.451
Equity Multiplier	30.09	31.04	27.68	25.99	24.76	23.78	22.62	22.39	21.88	22.24	21.34	20.60	19.84	19.61	19.68	19.59	20.22	20.29	20.18	19.72	19.724
Cash Ratio	snapshot only																				0.508
Debt Service Coverage	snapshot only																				0.454
Cash to Debt	snapshot only																				0.048
FCF to Debt	snapshot only																				0.008
Defensive Interval	snapshot only																				3850.3 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	0.04	0.04	0.04	0.04	0.05	0.05	0.06	0.06	0.07	0.07	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.060
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	1.76	1.72	1.72	1.68	1.75	1.85	2.04	2.18	2.28	2.25	2.31	2.30	2.21	2.14	2.07	2.02	1.97	1.85	1.84	1.77	1.766
Payables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DSO	208	212	212	217	209	197	179	167	160	162	158	159	165	171	176	180	186	197	199	207	206.7 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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	—
Cash Conversion Cycle	208	212	212	217	209	197	179	167	160	162	158	159	165	171	176	180	186	197	199	207	—
Cash Velocity	snapshot only																				1.374
Capital Intensity	snapshot only																				16.098

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	-13.1%	-5.6%	-10.9%	-9.0%	-1.2%	8.9%	22.8%	35.5%	35.9%	26.0%	16.7%	3.4%	-8.5%	-12.5%	-19.4%	-23.1%	-22.6%	-24.5%	-21.5%	-18.8%	-18.75%
Net Income	1.3%	74.5%	-32.1%	-37.0%	-42.1%	-10.0%	-16.8%	-35.2%	-31.8%	-64.7%	-62.1%	-58.7%	-78.1%	-42.5%	-70.5%	-78.8%	-1.6%	-1.6%	-2.1%	-2.4%	-2.44%
EPS	1.7%	1.1%	-17.9%	-24.5%	-31.4%	3.2%	-2.1%	-23.8%	-20.5%	-61.2%	-56.8%	-53.9%	-75.5%	-35.7%	-67.1%	-76.4%	-1.7%	-1.8%	-2.1%	-2.5%	-2.52%
FCF	-29.8%	-28.9%	-41.9%	-45.0%	-62.3%	-56.6%	35.0%	30.1%	1.2%	1.2%	27.5%	72.1%	32.8%	-32.1%	-51.2%	-78.2%	-63.9%	-3.9%	-7.2%	74.4%	74.36%
EBITDA	1.3%	75.8%	-31.7%	-35.3%	-40.2%	-11.6%	-18.4%	-37.6%	-34.1%	-62.0%	-59.6%	-57.2%	-75.9%	-44.6%	-68.6%	-75.2%	-1.7%	1.9%	5.6%	19.8%	19.83%
Op. Income	1.3%	75.8%	-31.7%	-35.3%	-40.2%	-11.6%	-18.4%	-37.6%	-34.1%	-62.0%	-59.6%	-57.2%	-75.9%	-44.6%	-68.6%	-75.7%	-1.7%	2.0%	5.6%	20.4%	20.43%
OCF Growth	snapshot only																				74.36%
Asset Growth	snapshot only																				-5.82%
Equity Growth	snapshot only																				-6.47%
Debt Growth	snapshot only																				-5.99%
Shares Change	snapshot only																				-4.95%
Dividend Growth	snapshot only																				-4.21%

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	-13.7%	-14.2%	-14.7%	-14.9%	-12.9%	-10.1%	-5.9%	-0.0%	5.3%	9.0%	8.5%	8.4%	7.1%	6.3%	4.9%	2.5%	-1.3%	-5.9%	-9.6%	-13.6%	-13.56%
Revenue 5Y	-6.5%	-6.6%	-7.2%	-7.7%	-6.8%	-5.8%	-5.1%	-3.9%	-2.9%	-2.9%	-2.3%	-2.9%	-3.9%	-4.3%	-4.8%	-4.5%	-3.8%	-3.1%	-4.2%	-4.4%	-4.45%
EPS 3Y	82.1%	44.8%	34.8%	27.4%	19.8%	21.2%	28.4%	21.6%	13.3%	-5.1%	-29.7%	-35.7%	-48.9%	-36.4%	-48.1%	-56.4%	—	—	—	—	—
EPS 5Y	16.0%	15.5%	14.6%	15.0%	14.5%	34.1%	25.7%	22.6%	26.9%	4.0%	0.7%	-6.2%	-19.7%	-15.0%	-21.3%	-27.9%	—	—	—	—	—
Net Income 3Y	56.3%	22.0%	14.9%	8.5%	2.0%	2.6%	11.2%	4.8%	-3.2%	-17.8%	-40.2%	-44.7%	-55.8%	-43.3%	-54.7%	-61.5%	—	—	—	—	—
Net Income 5Y	2.1%	1.0%	0.4%	0.7%	0.3%	17.2%	8.7%	5.2%	8.6%	-10.4%	-13.7%	-19.3%	-30.8%	-26.2%	-31.2%	-36.8%	—	—	—	—	—
EBITDA 3Y	24.9%	20.9%	-16.2%	-17.7%	-21.4%	-19.1%	11.0%	3.5%	-3.5%	-16.1%	-39.2%	-44.3%	-54.4%	-42.9%	-53.1%	-59.6%	—	-14.8%	-5.9%	30.2%	30.17%
EBITDA 5Y	-2.2%	-3.4%	-4.1%	-3.3%	-3.1%	1.6%	-4.0%	-7.5%	-5.1%	-9.9%	-28.0%	-31.7%	-40.1%	-35.5%	-29.6%	-34.8%	—	-0.8%	-14.2%	-2.3%	-2.31%
Gross Profit 3Y	10.4%	13.5%	-0.2%	-2.6%	-5.0%	-10.4%	-0.1%	-3.1%	-4.6%	-9.0%	-20.2%	-23.2%	-28.9%	-28.0%	-30.2%	-33.4%	-37.9%	-18.1%	-14.2%	3.5%	3.52%
Gross Profit 5Y	0.1%	1.6%	1.2%	0.8%	0.5%	-1.5%	-4.8%	-5.9%	-5.1%	-5.7%	-12.0%	-13.6%	-17.7%	-18.1%	-13.6%	-16.5%	-21.6%	-9.9%	-15.7%	-8.6%	-8.62%
Op. Income 3Y	24.9%	20.9%	-10.4%	-12.4%	-16.5%	-14.4%	11.0%	3.5%	-3.5%	-16.1%	-39.2%	-44.3%	-54.4%	-42.9%	-53.1%	-59.8%	—	-14.2%	-5.6%	30.6%	30.57%
Op. Income 5Y	-2.2%	-3.4%	-4.1%	-3.3%	-3.1%	1.6%	-4.0%	-7.5%	-5.1%	-9.9%	-25.0%	-29.1%	-37.9%	-33.3%	-29.6%	-35.1%	—	-0.4%	-14.1%	-2.1%	-2.13%
FCF 3Y	-7.7%	-14.9%	-26.5%	-30.3%	-41.3%	-33.1%	-24.2%	-22.0%	-17.1%	-11.9%	0.0%	7.2%	2.6%	-13.2%	-5.6%	-21.2%	1.1%	13.1%	-16.7%	-13.1%	-13.15%
FCF 5Y	-30.4%	-12.4%	-21.3%	-20.0%	-25.5%	-23.4%	-12.4%	-12.5%	-8.6%	-9.9%	-7.3%	-5.4%	-10.4%	-14.7%	-23.0%	-29.1%	-22.8%	-14.9%	-14.6%	-14.1%	-14.05%
OCF 3Y	-7.7%	-14.9%	-26.5%	-30.3%	-41.3%	-33.1%	-24.2%	-22.0%	-17.1%	-11.9%	0.0%	7.2%	2.6%	-13.2%	-5.6%	-21.2%	1.1%	13.1%	-16.7%	-13.1%	-13.15%
OCF 5Y	-14.7%	-12.4%	-21.3%	-20.0%	-25.5%	-23.4%	-12.4%	-12.5%	-8.6%	-9.9%	-7.3%	-5.4%	-10.4%	-14.7%	-23.0%	-29.1%	-22.8%	-14.9%	-14.6%	-14.1%	-14.05%
Assets 3Y	-8.4%	-8.2%	-8.1%	-8.2%	-8.6%	-9.3%	-10.5%	-10.4%	-10.9%	-11.1%	-11.4%	-12.1%	-13.3%	-13.7%	-13.3%	-12.9%	-12.5%	-11.7%	-10.5%	-10.3%	-10.33%
Assets 5Y	-8.1%	-7.8%	-7.9%	-8.8%	-8.9%	-9.2%	-10.0%	-9.6%	-9.8%	-10.0%	-10.1%	-10.4%	-11.2%	-11.4%	-11.4%	-11.2%	-11.3%	-11.0%	-10.8%	-10.7%	-10.71%
Equity 3Y	-9.9%	-9.6%	-6.3%	-3.9%	-2.8%	-3.7%	13.3%	11.5%	8.7%	4.3%	0.5%	0.6%	-0.4%	0.6%	-2.9%	-4.3%	-6.4%	-6.9%	-7.0%	-6.5%	-6.46%
Book Value 3Y	4.9%	7.3%	9.9%	12.8%	14.1%	13.7%	30.8%	29.3%	27.3%	20.5%	18.1%	16.9%	15.2%	12.8%	11.2%	8.4%	5.4%	9.0%	2.9%	2.1%	2.14%
Dividend 3Y	11.4%	13.3%	10.8%	10.7%	10.7%	11.9%	9.9%	10.2%	11.4%	9.7%	11.4%	10.9%	11.2%	8.2%	10.8%	10.1%	8.8%	13.1%	7.3%	5.8%	5.84%

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	0.49	0.50	0.59	0.70	0.73	0.66	0.64	0.44	0.25	0.16	0.10	0.07	0.08	0.10	0.08	0.04	0.02	0.01	0.10	0.16	0.157
Earnings Stability	0.01	0.05	0.19	0.19	0.22	0.66	0.26	0.10	0.08	0.01	0.04	0.12	0.26	0.44	0.45	0.45	0.59	0.65	0.98	0.95	0.952
Margin Stability	0.71	0.70	0.70	0.71	0.74	0.75	0.66	0.62	0.63	0.60	0.63	0.58	0.55	0.54	0.49	0.47	0.47	0.67	0.53	0.46	0.459
Rev. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
Earn. Growth Consistency	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.50	0.50	0.87	0.85	0.83	0.96	0.93	0.86	0.87	0.50	0.50	0.50	0.50	0.83	0.50	0.50	0.20	0.20	0.20	0.20	0.200
Earnings Smoothness	0.21	0.46	0.62	0.55	0.47	0.89	0.82	0.57	0.62	0.04	0.10	0.17	0.00	0.46	0.00	0.00	—	—	—	—	—
ROE Trend	0.17	0.10	-0.04	-0.05	-0.08	-0.01	-0.10	-0.15	-0.13	-0.16	-0.12	-0.11	-0.12	-0.10	-0.10	-0.08	-0.10	-0.10	-0.07	-0.06	-0.056
Gross Margin Trend	0.25	0.22	0.18	0.13	0.03	-0.10	-0.24	-0.32	-0.31	-0.30	-0.25	-0.22	-0.21	-0.14	-0.11	-0.09	-0.10	0.07	0.10	0.30	0.303
FCF Margin Trend	-0.05	-0.03	-0.10	-0.10	-0.14	-0.15	-0.02	-0.04	-0.02	0.00	0.02	0.07	0.08	-0.00	-0.05	-0.10	-0.07	0.01	-0.01	-0.01	-0.006
Sustainable Growth Rate	32.2%	24.3%	18.0%	17.7%	15.3%	19.9%	14.3%	10.3%	9.5%	5.2%	4.0%	3.1%	0.3%	2.3%	-0.4%	-1.2%	—	—	—	—	—
Internal Growth Rate	0.9%	0.7%	0.6%	0.6%	0.6%	0.7%	0.6%	0.4%	0.4%	0.2%	0.2%	0.1%	0.0%	0.1%	—	—	—	—	—	—	—

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	0.77	0.98	0.69	0.67	0.50	0.47	1.12	1.34	1.59	2.96	3.75	5.58	9.63	3.50	6.21	5.74	-5.50	-5.58	-5.38	-6.94	-6.939
FCF/OCF	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
FCF/Net Income	snapshot only																				-6.939
OCF/EBITDA	snapshot only																				0.314
CapEx/Revenue	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
CapEx/Depreciation	snapshot only																				0.000
Accruals Ratio	0.00	0.00	0.00	0.00	0.00	0.00	-0.00	-0.00	-0.00	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.00	-0.01	-0.01	-0.01	-0.01	-0.008
Sloan Accruals	snapshot only																				-0.000
Cash Flow Adequacy	snapshot only																				5.574

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	4.0%	3.9%	4.6%	5.5%	5.2%	4.7%	4.8%	4.0%	4.3%	3.8%	4.1%	4.8%	4.5%	5.1%	5.5%	4.8%	5.1%	5.8%	7.9%	7.5%	7.60%
Dividend/Share	$0.67	$0.70	$0.67	$0.67	$0.67	$0.68	$0.68	$0.67	$0.67	$0.64	$0.66	$0.65	$0.67	$0.64	$0.67	$0.66	$0.66	$0.76	$0.65	$0.64	$0.64
Payout Ratio	12.3%	14.9%	16.9%	16.4%	17.8%	14.1%	17.6%	21.7%	22.4%	34.2%	39.5%	45.6%	91.1%	53.4%	1.2%	2.0%	—	—	—	—	—
FCF Payout Ratio	15.9%	15.2%	24.6%	24.6%	35.3%	29.8%	15.7%	16.2%	14.1%	11.5%	10.5%	8.2%	9.5%	15.3%	19.5%	34.4%	23.6%	14.3%	19.2%	17.9%	17.94%
Total Payout Ratio	61.6%	98.6%	1.2%	1.0%	1.1%	76.1%	91.4%	1.1%	1.1%	1.7%	1.8%	1.9%	3.2%	1.9%	4.3%	6.6%	—	—	—	—	—
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	-0.08	-0.09	-0.11	-0.11	-0.11	-0.10	-0.09	-0.10	-0.10	-0.11	-0.11	-0.08	-0.07	-0.05	-0.04	-0.03	-0.05	-0.04	-0.01	-0.01	-0.015
Buyback Yield	16.3%	21.7%	27.6%	29.3%	25.7%	20.6%	20.0%	16.5%	17.2%	14.9%	14.6%	14.8%	11.6%	13.0%	13.8%	11.3%	11.7%	10.2%	12.6%	9.5%	9.55%
Net Buyback Yield	16.3%	21.7%	27.6%	29.3%	25.7%	20.6%	20.0%	16.5%	17.2%	14.9%	14.6%	14.8%	11.6%	13.0%	13.8%	11.3%	11.7%	10.2%	12.6%	9.5%	9.55%
Total Shareholder Return	20.3%	25.6%	32.2%	34.8%	30.9%	25.3%	24.8%	20.6%	21.5%	18.7%	18.7%	19.6%	16.1%	18.0%	19.2%	16.1%	16.8%	16.1%	20.5%	17.0%	17.01%

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)	0.78	0.77	0.77	0.76	0.75	0.78	0.78	0.79	0.78	0.73	0.74	0.76	0.71	0.75	0.69	0.67	0.64	0.71	0.81	0.92	0.925
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	-0.22	-0.14	-0.05	-0.049
EBIT Margin	0.33	0.27	0.23	0.23	0.20	0.22	0.15	0.11	0.10	0.06	0.05	0.04	0.03	0.04	0.02	0.01	-0.02	0.16	0.17	0.37	0.367
Asset Turnover	0.04	0.04	0.04	0.04	0.05	0.05	0.06	0.06	0.07	0.07	0.08	0.08	0.08	0.07	0.07	0.07	0.07	0.06	0.06	0.06	0.060
Equity Multiplier	34.48	33.40	29.41	28.32	27.31	27.16	25.09	24.19	23.34	23.04	22.00	21.53	20.90	20.95	20.54	20.11	20.02	19.93	19.92	19.65	19.653

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)	$5.47	$4.66	$3.93	$4.06	$3.75	$4.81	$3.85	$3.10	$2.98	$1.87	$1.67	$1.43	$0.73	$1.20	$0.55	$0.34	$-0.51	$-0.95	$-0.62	$-0.51	$-0.51
Book Value/Share	$16.31	$16.89	$18.46	$19.91	$21.09	$22.22	$22.75	$23.44	$23.95	$22.62	$24.26	$24.54	$24.94	$24.23	$25.38	$25.39	$24.67	$28.79	$24.78	$24.98	$25.24
Tangible Book/Share	$11.99	$12.18	$13.74	$15.03	$16.06	$16.96	$17.35	$17.84	$18.19	$16.93	$18.19	$18.38	$20.89	$20.22	$21.10	$21.07	$20.27	$23.58	$20.30	$20.50	$20.50
Revenue/Share	$21.50	$22.93	$22.08	$22.83	$25.16	$28.65	$31.92	$36.39	$39.83	$39.65	$42.46	$42.00	$40.81	$38.84	$38.24	$35.80	$34.51	$38.34	$31.90	$30.60	$30.93
FCF/Share	$4.22	$4.57	$2.71	$2.71	$1.89	$2.28	$4.30	$4.15	$4.74	$5.54	$6.25	$7.97	$7.05	$4.21	$3.41	$1.93	$2.78	$5.29	$3.36	$3.54	$3.58
OCF/Share	$4.22	$4.57	$2.71	$2.71	$1.89	$2.28	$4.30	$4.15	$4.74	$5.54	$6.25	$7.97	$7.05	$4.21	$3.41	$1.93	$2.78	$5.29	$3.36	$3.54	$3.58
Cash/Share	$6.29	$5.89	$4.63	$6.64	$9.67	$11.46	$4.38	$10.54	$8.07	$6.88	$25.86	$9.71	$25.86	$6.62	$6.29	$7.05	$5.78	$25.25	$6.47	$22.28	$22.52
EBITDA/Share	$7.05	$6.08	$5.12	$5.35	$4.99	$6.17	$4.92	$3.93	$3.83	$2.57	$2.26	$1.88	$1.04	$1.60	$0.79	$0.51	$-0.78	$6.14	$5.54	$11.28	$11.28
Debt/Share	$467.17	$499.02	$488.47	$494.61	$498.94	$502.96	$488.68	$497.71	$496.77	$474.71	$484.87	$475.39	$457.06	$446.47	$470.15	$466.96	$469.23	$548.47	$470.65	$461.84	$461.84
Net Debt/Share	$460.89	$493.14	$483.84	$487.97	$489.26	$491.50	$484.29	$487.18	$488.69	$467.84	$459.01	$465.68	$431.19	$439.84	$463.85	$459.91	$463.46	$523.22	$464.18	$439.56	$439.56

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.493
Altman Z-Prime	snapshot only																				0.199
Piotroski F-Score	7	7	3	3	4	4	6	6	6	6	6	7	6	6	4	5	3	5	6	5	5
Beneish M-Score	-2.64	-2.59	-2.42	-2.47	-2.12	-1.78	-1.75	-1.69	-2.26	-2.09	-2.51	-2.62	-2.19	-2.82	-2.26	-2.28	-11.10	-2.86	-2.92	-2.86	-2.862
Ohlson O-Score	snapshot only																				-4.878
Net-Net WC	snapshot only																				$-445.42
EVA	snapshot only																				$-3596130000.00

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																				CCC
Credit Score	30.16	29.03	25.60	28.02	31.17	33.20	32.19	30.91	31.10	24.17	27.80	22.41	19.44	21.72	19.89	19.63	13.93	12.66	13.73	15.20	15.204
Credit Grade	snapshot only																				17
Credit Trend	snapshot only																				-4.427
Implied Spread (bps)	snapshot only																				1200.000
Industry Credit Rank	snapshot only																				3
Sector Credit Rank	snapshot only																				2

NAVI NASDAQ

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

Workforce & Productivity

Scaling Efficiency

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