Also trades as: NAH.L (LSE) · $vol 0M

$0.65

+0.00 (+0.00%)

OTC · Communication Services · Advertising Agencies · Tech Score Neutral · Power 55 · $31.7M mcap · 40M float · 0.0001% daily turnover · Short 100% of daily vol

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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. NHLPF receives an overall rating of A-. Strongest factors: ROE (4/5), ROA (5/5). Areas of concern: D/E (2/5).

Rating Change History

Date	From	To
2026-10-03	None	ADDED
2026-10-03	EXISTED	None
2026-09-29	None	ADDED
2026-09-27	EXISTED	None
2026-09-23	None	ADDED
2026-09-23	EXISTED	None
2026-09-19	None	ADDED
2026-09-19	EXISTED	None
2026-09-15	None	ADDED
2026-09-13	EXISTED	None

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ — Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

—

Momentum

Safety

—

Cash Flow

Risk & Quality Signals

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

Altman Z-Score

—

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓

Beneish M-Score

-3.94

Unlikely Manipulator

Ohlson O-Score

-7.15

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

AA-

Score: 81.8/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 2.17x

Accruals: -9.0%

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. NHLPF 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. NHLPF's score of -3.94 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. NHLPF'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. NHLPF receives an estimated rating of AA- (score: 81.8/100), 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). NHLPF's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

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

P/E

5.22x

PEG

0.04x

P/S

0.48x

P/B

0.76x

P/FCF

—

P/OCF

—

EV/EBITDA

—

EV/Revenue

—

EV/EBIT

—

EV/FCF

—

Earnings Yield

—

FCF Yield

—

Shareholder Yield

—

Graham Number

$1.10

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 5.2x earnings, NHLPF trades at a deep value multiple. Graham's intrinsic value formula yields $1.10 per share, suggesting a potential 69% 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

0.489

NI / EBT

Interest Burden

0.878

EBT / EBIT

EBIT Margin

0.160

EBIT / Rev

Asset Turnover

1.117

Rev / Assets

Equity Multiplier

1.693

Assets / Equity

ROE

13.0%

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. NHLPF's ROE of 13.0% is driven by Asset Turnover (1.117), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.49 suggests the company retains less than 60% of pre-tax earnings after taxes.

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

10.74%

Fair P/E

29.98x

Intrinsic Value

$3.28

Price/Value

—

Margin of Safety

—

Premium

—

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with NHLPF's realized 10.7% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. NHLPF trades at a premium to its adjusted intrinsic value of $3.28, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 30.0x compares to the current market P/E of 5.2x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$0.65

Median 1Y

$0.49

5th Pctile

$0.19

95th Pctile

$1.24

Ann. Volatility

55.0%

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

All Ratios & Metrics

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

Profitability

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
ROE	30.0%	38.4%	45.8%	37.8%	34.1%	27.2%	23.4%	6.3%	-0.7%	-5.4%	-7.3%	0.0%	0.6%	1.1%	0.1%	1.3%	1.9%	5.5%	10.2%	13.0%	13.01%
ROA	19.6%	27.3%	30.7%	25.0%	21.7%	18.2%	15.1%	3.9%	-0.4%	-3.2%	-4.2%	0.0%	0.4%	0.6%	0.1%	0.8%	1.2%	3.0%	5.8%	7.7%	7.69%
ROIC	27.9%	35.2%	34.0%	30.0%	26.2%	24.0%	23.4%	21.8%	20.6%	19.2%	12.4%	7.8%	6.9%	6.5%	8.6%	12.0%	11.2%	28.1%	35.0%	38.4%	38.35%
ROCE	34.3%	44.8%	46.3%	37.7%	32.5%	27.6%	21.9%	13.0%	7.7%	3.9%	2.5%	5.3%	5.6%	5.9%	5.6%	6.1%	7.1%	24.3%	43.6%	49.6%	49.61%
Gross Margin	57.3%	58.5%	51.8%	51.0%	50.9%	50.0%	47.7%	47.5%	42.0%	42.8%	71.9%	73.2%	38.0%	40.1%	38.8%	42.4%	47.0%	49.9%	51.2%	53.3%	53.32%
Operating Margin	30.2%	33.1%	25.7%	22.9%	22.2%	17.8%	21.5%	19.1%	14.0%	13.7%	2.6%	-1.2%	10.9%	12.1%	8.7%	10.8%	9.4%	15.5%	19.8%	18.3%	18.31%
Net Margin	23.2%	26.5%	16.4%	21.4%	15.1%	12.1%	6.0%	-17.7%	-1.7%	0.6%	2.5%	-1.1%	0.0%	1.9%	-0.4%	2.2%	1.7%	7.4%	8.8%	9.6%	9.60%
EBITDA Margin	32.6%	36.9%	29.0%	25.9%	25.5%	21.2%	12.7%	-1.1%	9.8%	9.5%	11.5%	8.1%	9.6%	9.5%	8.2%	9.2%	12.6%	17.6%	21.4%	19.8%	19.80%
FCF Margin	18.5%	17.4%	17.0%	11.6%	5.7%	7.0%	6.5%	5.2%	11.7%	11.7%	13.5%	18.1%	14.6%	12.8%	13.9%	15.7%	14.5%	14.6%	14.5%	14.8%	14.76%
OCF Margin	19.0%	17.8%	17.5%	11.9%	5.9%	7.2%	6.9%	6.0%	13.1%	13.7%	15.7%	20.3%	16.2%	13.9%	14.7%	16.2%	14.9%	14.9%	14.6%	15.0%	14.97%
ROE 3Y Avg	snapshot only																				7.79%
ROE 5Y Avg	snapshot only																				13.17%
ROA 3Y Avg	snapshot only																				4.04%
ROIC 3Y Avg	snapshot only																				13.10%
ROIC Economic	snapshot only																				36.19%
Cash ROA	snapshot only																				24.52%
Cash ROIC	snapshot only																				43.99%
CROIC	snapshot only																				43.37%
NOPAT Margin	snapshot only																				13.05%
Pretax Margin	snapshot only																				14.08%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				34.29%
SBC / Revenue	snapshot only																				0.43%

Valuation

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
P/E Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	5.215
P/S Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.480
P/B Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.764
P/FCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
P/OCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBITDA	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/Revenue	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/EBIT	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EV/FCF	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Earnings Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
PEG Ratio	snapshot only																				0.041
Graham Number	snapshot only																				$1.10

Leverage & Solvency

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Current Ratio	0.78	0.88	0.81	1.42	1.68	1.86	1.92	2.28	2.32	1.71	1.64	1.73	1.70	1.71	1.67	1.60	1.63	1.62	1.26	1.11	1.112
Quick Ratio	0.78	0.84	0.81	1.42	1.68	1.45	1.92	1.81	2.32	1.36	1.30	1.55	1.47	1.46	1.67	1.60	1.63	1.62	1.26	1.11	1.112
Debt/Equity	0.23	0.19	0.18	0.21	0.30	0.28	0.32	0.43	0.41	0.40	0.36	0.36	0.33	0.31	0.28	0.23	0.22	0.41	0.26	0.22	0.218
Net Debt/Equity	0.11	0.10	0.16	0.20	0.29	0.25	0.29	0.38	0.35	0.33	0.30	0.31	0.29	0.27	0.23	0.20	0.18	0.34	0.19	0.09	0.089
Debt/Assets	0.15	0.13	0.12	0.14	0.19	0.18	0.19	0.23	0.23	0.22	0.20	0.21	0.19	0.19	0.17	0.15	0.14	0.18	0.13	0.11	0.112
Debt/EBITDA	0.55	0.35	0.31	0.41	0.63	0.67	0.91	1.65	2.26	3.21	3.53	2.60	2.40	2.32	2.15	1.76	1.58	0.90	0.48	0.38	0.380
Net Debt/EBITDA	0.27	0.20	0.29	0.38	0.59	0.61	0.81	1.47	1.92	2.69	3.00	2.28	2.15	1.97	1.82	1.50	1.31	0.73	0.36	0.16	0.155
Interest Coverage	—	—	—	—	—	—	—	—	—	—	—	—	13.74	6.20	3.22	2.40	3.33	6.30	11.82	24.01	24.007
Equity Multiplier	1.53	1.41	1.43	1.47	1.61	1.58	1.67	1.82	1.79	1.80	1.77	1.73	1.70	1.68	1.63	1.58	1.56	2.28	2.04	1.95	1.954
Cash Ratio	snapshot only																				0.140
Debt Service Coverage	snapshot only																				26.811
Cash to Debt	snapshot only																				0.591
FCF to Debt	snapshot only																				2.167
Defensive Interval	snapshot only																				324.5 days

Efficiency & Turnover

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Asset Turnover	0.90	1.19	1.40	1.14	1.09	1.11	1.10	1.04	0.97	0.93	0.83	0.80	0.82	0.81	0.86	0.88	0.88	1.13	1.16	1.12	1.117
Inventory Turnover	—	56.48	—	134.21	—	13.32	—	12.35	—	6.99	10.77	5.71	15.06	5.46	11.16	27.05	20.34	16.93	—	—	—
Receivables Turnover	11.95	16.13	14.25	9.02	7.60	9.15	8.71	7.58	6.52	7.64	7.20	8.82	9.01	9.72	9.55	10.41	9.53	10.14	9.90	8.16	8.162
Payables Turnover	3.85	16.91	4.58	14.75	3.89	18.86	7.84	15.17	6.02	17.71	13.25	12.71	20.15	14.68	19.96	31.68	27.92	32.00	28.93	24.70	24.698
DSO	31	23	26	40	48	40	42	48	56	48	51	41	41	38	38	35	38	36	37	45	44.7 days
DIO	0	6	0	3	0	27	0	30	0	52	34	64	24	67	33	13	18	22	0	0	0.0 days
DPO	95	22	80	25	94	19	47	24	61	21	28	29	18	25	18	12	13	11	13	15	14.8 days
Cash Conversion Cycle	-64	8	-54	18	-46	48	-5	54	-5	79	57	77	47	79	53	37	43	46	24	30	29.9 days
Fixed Asset Turnover	snapshot only																				58.671
Cash Velocity	snapshot only																				24.824
Capital Intensity	snapshot only																				0.610

Growth (YoY)

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Revenue	—	—	2.9%	99.7%	31.3%	0.8%	2.2%	-1.0%	-4.7%	-8.6%	-16.9%	-20.4%	-16.0%	-12.8%	-1.7%	4.8%	2.4%	0.5%	-2.9%	-6.9%	-6.86%
Net Income	—	—	3.3%	1.1%	18.9%	-28.0%	-36.1%	-83.2%	-1.0%	-1.2%	-1.3%	-99.8%	1.9%	1.2%	1.0%	108.9%	2.1%	2.5%	51.1%	6.0%	5.97%
EPS	—	—	2.9%	98.1%	16.8%	-28.5%	-37.0%	-83.3%	-1.0%	-1.2%	-1.3%	-99.8%	1.9%	1.2%	1.0%	108.3%	2.0%	2.4%	49.2%	5.6%	5.61%
FCF	—	—	4.5%	40.7%	-59.6%	-59.5%	-61.1%	-55.8%	95.3%	53.5%	73.6%	1.8%	5.5%	-5.1%	1.0%	-9.5%	1.2%	14.8%	1.0%	-12.2%	-12.25%
EBITDA	—	—	4.0%	1.1%	25.2%	-20.1%	-33.6%	-53.9%	-65.5%	-72.9%	-73.5%	-46.5%	-23.4%	11.2%	27.7%	-1.5%	4.5%	22.9%	66.5%	83.0%	83.05%
Op. Income	—	—	3.6%	94.1%	16.3%	-25.6%	-28.3%	-28.3%	-32.3%	-28.3%	-48.9%	-70.9%	-69.7%	-69.0%	-42.5%	50.6%	58.8%	78.6%	77.3%	38.6%	38.61%
OCF Growth	snapshot only																				-13.97%
Asset Growth	snapshot only																				-48.27%
Equity Growth	snapshot only																				-58.09%
Debt Growth	snapshot only																				-60.53%
Shares Change	snapshot only																				5.39%

Growth (CAGR)

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Revenue 3Y	—	—	—	—	—	—	—	—	—	—	49.3%	16.3%	1.7%	-7.1%	-5.9%	-6.2%	-6.4%	-7.1%	-7.5%	-8.1%	-8.08%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	26.0%	9.0%	8.96%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	-91.5%	-72.2%	-70.2%	-84.8%	-67.5%	-61.9%	-49.9%	-34.6%	10.7%	10.74%
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-7.3%	-14.8%	-14.84%
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	-91.3%	-72.2%	-70.1%	-84.7%	-67.4%	-61.9%	-49.4%	-33.8%	13.0%	13.01%
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-4.6%	-13.0%	-13.02%
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	-4.4%	-19.8%	-30.8%	-37.8%	-39.2%	-37.6%	-34.9%	-28.2%	-17.4%	-1.2%	-1.17%
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	13.2%	-1.4%	-1.41%
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	—	54.6%	22.3%	4.3%	-6.0%	-10.4%	-15.5%	-13.4%	-11.3%	-8.9%	-7.3%	-7.26%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	27.2%	9.5%	9.47%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	19.3%	-26.0%	-38.0%	-45.1%	-40.5%	-32.0%	-31.2%	-26.5%	-19.6%	-15.3%	-15.29%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	11.6%	-3.3%	-3.28%
FCF 3Y	—	—	—	—	—	—	—	—	—	—	54.6%	20.1%	-6.0%	-16.1%	-11.9%	3.7%	27.7%	18.7%	21.0%	30.3%	30.29%
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	30.4%	6.6%	6.59%
OCF 3Y	—	—	—	—	—	—	—	—	—	—	62.5%	23.7%	-3.5%	-14.4%	-11.2%	3.9%	27.4%	18.1%	18.7%	24.6%	24.62%
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	30.7%	6.4%	6.40%
Assets 3Y	—	—	—	—	—	—	—	—	—	—	19.3%	4.4%	4.1%	4.5%	3.8%	0.3%	-2.4%	-21.5%	-23.3%	-22.4%	-22.36%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-4.9%	-11.2%	-11.20%
Equity 3Y	—	—	—	—	—	—	—	—	—	—	15.1%	0.9%	0.6%	-1.4%	-0.6%	-2.0%	-1.3%	-30.5%	-28.2%	-24.2%	-24.15%
Book Value 3Y	—	—	—	—	—	—	—	—	—	—	11.3%	-0.7%	0.5%	-1.7%	-0.9%	-2.6%	-1.2%	-31.2%	-29.0%	-25.7%	-25.67%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	-54.4%	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Revenue Stability	—	—	—	—	—	—	0.77	0.73	0.57	0.68	0.42	0.22	0.01	0.85	0.77	0.73	0.83	0.89	0.40	0.23	0.227
Earnings Stability	—	—	—	—	—	—	0.28	0.14	0.62	0.92	0.17	0.45	0.71	0.80	0.29	0.52	0.66	0.65	0.25	0.37	0.373
Margin Stability	—	—	—	—	—	—	0.90	0.94	0.94	0.92	0.92	0.92	0.93	0.91	0.94	0.85	0.87	0.90	0.96	0.87	0.875
Rev. Growth Consistency	0.00	0.00	0.50	0.50	0.50	0.50	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	0.00	0.000
Earn. Growth Consistency	0.00	0.00	0.50	0.50	0.50	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	1.000
FCF Positive Streak	0	0	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	—	—	—	—	—	—	0.86	0.50	0.20	0.20	0.20	0.50	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	—	—	0.00	0.31	0.83	0.67	0.56	0.00	—	—	—	0.00	—	—	—	0.00	0.00	0.00	0.00	0.00	0.000
ROE Trend	—	—	—	—	—	—	-0.03	-0.21	-0.32	-0.38	-0.38	-0.21	-0.15	-0.09	-0.08	-0.02	0.02	0.13	0.22	0.21	0.214
Gross Margin Trend	—	—	—	—	—	—	-0.00	-0.03	-0.05	-0.07	-0.02	0.05	0.06	0.07	-0.03	-0.13	-0.10	-0.06	-0.01	0.02	0.018
FCF Margin Trend	—	—	—	—	—	—	-0.08	-0.09	-0.00	-0.00	0.02	0.10	0.06	0.03	0.04	0.04	0.01	0.02	0.01	-0.02	-0.021
Sustainable Growth Rate	7.3%	12.5%	10.6%	9.2%	6.8%	3.3%	4.3%	-11.0%	—	—	—	0.0%	0.6%	1.1%	0.1%	1.3%	1.9%	5.5%	10.2%	13.0%	13.01%
Internal Growth Rate	5.0%	9.7%	7.7%	6.5%	4.5%	2.3%	2.9%	—	—	—	—	0.0%	0.4%	0.6%	0.1%	0.8%	1.2%	3.1%	6.2%	8.3%	8.33%

Cash Flow Quality

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
OCF/Net Income	0.87	0.77	0.79	0.55	0.30	0.44	0.50	1.62	-31.74	-3.95	-3.09	2311.00	36.23	18.09	156.53	17.62	11.18	5.61	2.91	2.17	2.174
FCF/OCF	0.98	0.98	0.97	0.97	0.96	0.96	0.93	0.86	0.89	0.86	0.86	0.89	0.90	0.92	0.95	0.97	0.97	0.98	0.99	0.99	0.986
FCF/Net Income	snapshot only																				2.144
OCF/EBITDA	snapshot only																				0.836
CapEx/Revenue	0.5%	0.4%	0.5%	0.3%	0.2%	0.3%	0.5%	0.8%	1.4%	1.9%	2.2%	2.1%	1.6%	1.1%	0.8%	0.5%	0.5%	0.3%	0.2%	0.2%	0.21%
CapEx/Depreciation	snapshot only																				0.113
Accruals Ratio	0.03	0.06	0.06	0.11	0.15	0.10	0.07	-0.02	-0.13	-0.16	-0.17	-0.16	-0.13	-0.11	-0.12	-0.13	-0.12	-0.14	-0.11	-0.09	-0.090
Sloan Accruals	snapshot only																				-0.159
Cash Flow Adequacy	snapshot only																				71.003
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Dividend Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.00%
Dividend/Share	$0.27	$0.34	$0.37	$0.37	$0.34	$0.31	$0.25	$0.22	$0.11	$0.08	$0.03	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	75.5%	67.5%	76.9%	75.6%	80.2%	87.9%	81.5%	2.7%	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	89.3%	89.2%	99.8%	1.4%	2.8%	2.1%	1.7%	2.0%	47.6%	35.4%	10.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	75.5%	67.5%	76.9%	75.6%	80.2%	87.9%	81.5%	2.7%	—	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Div. Increase Streak	0	0	1	1	1	0	0	0	0	0	0	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Buyback Yield	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total Shareholder Return	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

DuPont Factors

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Tax Burden (NI/EBT)	0.78	0.77	0.77	0.78	0.77	0.75	0.65	0.31	-0.05	-0.53	-2.18	0.00	0.08	0.14	0.02	0.11	0.16	0.29	0.42	0.49	0.489
Interest Burden (EBT/EBIT)	0.96	0.99	0.95	1.00	1.00	0.99	1.17	1.09	1.32	1.94	1.00	1.00	1.02	0.99	1.27	1.66	1.32	1.04	0.93	0.88	0.878
EBIT Margin	0.29	0.30	0.30	0.28	0.26	0.22	0.18	0.11	0.07	0.03	0.02	0.05	0.05	0.05	0.05	0.05	0.06	0.09	0.13	0.16	0.160
Asset Turnover	0.90	1.19	1.40	1.14	1.09	1.11	1.10	1.04	0.97	0.93	0.83	0.80	0.82	0.81	0.86	0.88	0.88	1.13	1.16	1.12	1.117
Equity Multiplier	1.53	1.41	1.49	1.52	1.57	1.50	1.55	1.64	1.70	1.69	1.72	1.77	1.74	1.74	1.70	1.65	1.63	1.84	1.74	1.69	1.693

Per Share

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
EPS (Diluted TTM)	$0.36	$0.50	$0.48	$0.48	$0.42	$0.36	$0.30	$0.08	$-0.01	$-0.07	$-0.09	$0.00	$0.01	$0.01	$0.00	$0.02	$0.02	$0.05	$0.08	$0.11	$0.11
Book Value/Share	$1.21	$1.30	$1.27	$1.35	$1.29	$1.34	$1.31	$1.21	$1.21	$1.21	$1.23	$1.22	$1.23	$1.24	$1.24	$1.25	$1.25	$0.43	$0.47	$0.50	$0.51
Tangible Book/Share	$-0.29	$-0.20	$-0.21	$-0.13	$-0.13	$-0.11	$-0.11	$-0.10	$-0.10	$-0.09	$-0.06	$-0.06	$-0.04	$-0.02	$-0.01	$0.02	$0.04	$0.09	$0.14	$0.17	$0.17
Revenue/Share	$1.65	$2.18	$2.17	$2.21	$2.13	$2.18	$2.18	$2.17	$2.07	$1.99	$1.83	$1.72	$1.73	$1.73	$1.79	$1.80	$1.75	$1.70	$1.68	$1.59	$0.81
FCF/Share	$0.31	$0.38	$0.37	$0.26	$0.12	$0.15	$0.14	$0.11	$0.24	$0.23	$0.25	$0.31	$0.25	$0.22	$0.25	$0.28	$0.25	$0.25	$0.24	$0.23	$0.15
OCF/Share	$0.31	$0.39	$0.38	$0.26	$0.13	$0.16	$0.15	$0.13	$0.27	$0.27	$0.29	$0.35	$0.28	$0.24	$0.26	$0.29	$0.26	$0.25	$0.25	$0.24	$0.15
Cash/Share	$0.14	$0.10	$0.02	$0.02	$0.02	$0.03	$0.04	$0.06	$0.07	$0.08	$0.07	$0.05	$0.04	$0.06	$0.05	$0.04	$0.05	$0.03	$0.03	$0.06	$0.07
EBITDA/Share	$0.51	$0.70	$0.71	$0.69	$0.62	$0.56	$0.47	$0.31	$0.22	$0.15	$0.12	$0.17	$0.17	$0.17	$0.16	$0.16	$0.17	$0.20	$0.25	$0.28	$0.28
Debt/Share	$0.28	$0.24	$0.22	$0.28	$0.39	$0.37	$0.42	$0.52	$0.49	$0.48	$0.44	$0.43	$0.40	$0.39	$0.34	$0.29	$0.27	$0.18	$0.12	$0.11	$0.11
Net Debt/Share	$0.14	$0.14	$0.21	$0.26	$0.37	$0.34	$0.38	$0.46	$0.42	$0.41	$0.37	$0.38	$0.36	$0.33	$0.29	$0.25	$0.23	$0.15	$0.09	$0.04	$0.04

Academic Models

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Piotroski F-Score	3	3	6	6	5	3	3	4	4	2	4	5	5	5	7	6	7	7	7	7	7
Beneish M-Score	—	—	-1.55	-1.02	0.25	-0.37	0.19	-1.41	-2.20	-2.96	-3.26	-3.43	-3.08	-3.00	-2.83	-3.11	-3.94	-4.26	-4.03	-3.94	-3.942
Ohlson O-Score	snapshot only																				-7.154
ROIC (Greenblatt)	snapshot only																				3.26%
Net-Net WC	snapshot only																				$0.03
EVA	snapshot only																				$7512459.79

Credit

Metric	Q2'16	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q2'25	Q4'25	Q2'26	Current
Credit Rating	snapshot only																				AA-
Credit Score	79.25	80.25	80.25	79.25	76.10	75.80	76.10	75.05	75.65	71.30	74.75	76.25	76.25	71.25	67.50	65.25	69.00	74.25	79.25	81.75	81.750
Credit Grade	snapshot only																				4
Credit Trend	snapshot only																				16.500
Implied Spread (bps)	snapshot only																				100.000

NHLPF OTC

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

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