$12.65

+0.00 (+0.00%)

Weekly Expected Move ±4.9%

$11 $12 $13 $13 $14

NASDAQ · Real Estate · Real Estate - Services · Tech Score Strong Sell · Power 39 · $2.0B mcap · 151M float · 1.02% daily turnover · Short 46% 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.

NARROW EDGE

61.8 / 100

NoneWeakNarrowWide

Primary source: Network Effects · ROIC: 6.1% · 5Y Avg: 4.8%

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. NMRK has a Narrow competitive edge (61.8/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Network Effects. ROIC of 6.1% 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

$20

Low

$21

Avg Target

$22

High

Based on 2 analysts since Jul 29, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 9Hold: 3Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$21.00

Analysts2

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-08-17	Barclays	—	$21	$20	-1	+31.1%	$15.25
2026-08-10	UBS	—	Initiated	$22	—	+48.5%	$14.81
2026-06-29	Piper Sandler	Alex Goldfarb	$16	$19	+3	+26.1%	$15.07
2025-12-02	Barclays	Brendan Lynch	Initiated	$21	—	+21.7%	$17.25
2025-05-05	Piper Sandler	Alexander Goldfarb	$17	$16	-1	+43.9%	$11.12
2024-09-02	Piper Sandler	Alex Goldfarb	$13	$17	+4	+24.3%	$13.68
2024-08-15	Wolfe Research	Andrew Rosivach	Initiated	$15	—	+17.1%	$12.80
2023-12-20	Piper Sandler	Alexander Goldfarb	Initiated	$13	—	+24.3%	$10.46
2022-12-12	Goldman Sachs	—	Initiated	$8	—	+5.5%	$7.58
2022-07-22	Raymond James	—	$18	$16	-2	+43.2%	$11.17
2022-04-26	Raymond James	—	Initiated	$18	—	+38.9%	$12.96

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

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. NMRK receives an overall rating of B+. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (2/5).

Rating Change History

Date	From	To
2026-10-01	B	B+
2026-09-02	B-	B
2026-08-14	B	B-
2026-08-04	B+	B
2026-08-03	B	B+
2026-07-29	B-	B
2026-07-01	B	B-
2026-05-04	B-	B
2026-04-30	B	B-
2026-04-27	B-	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.

★ ★ ★ ★ ★ 64 Grade B

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. NMRK scores highest in Momentum (98/100) and lowest in Profitability (36/100). A grade of B indicates above-average fundamentals with room for improvement in select areas.

Risk & Quality Signals

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

Altman Z-Score

1.94

Grey Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓

Beneish M-Score

-2.83

Unlikely Manipulator

Ohlson O-Score

-7.10

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BBB

Score: 59.3/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 5.71x

Accruals: -13.2%

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. NMRK scores 1.94, placing it in the Grey Zone (safe > 2.99, distress < 1.81). Financial distress is possible and warrants monitoring. 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. NMRK 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. NMRK's score of -2.83 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. NMRK'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. NMRK receives an estimated rating of BBB (score: 59.3/100), 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). NMRK'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

15.26x

PEG

0.17x

P/S

0.55x

P/B

1.58x

P/FCF

4.81x

P/OCF

4.54x

EV/EBITDA

12.43x

EV/Revenue

1.60x

EV/EBIT

20.83x

EV/FCF

7.21x

Earnings Yield

3.86%

FCF Yield

20.79%

Shareholder Yield

4.68%

Graham Number

$8.65

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, NMRK trades at a reasonable valuation. Graham's intrinsic value formula yields $8.65 per share, 46% 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

0.601

NI / EBT

Interest Burden

0.894

EBT / EBIT

EBIT Margin

0.077

EBIT / Rev

Asset Turnover

0.682

Rev / Assets

Equity Multiplier

3.880

Assets / Equity

ROE

10.9%

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. NMRK's ROE of 10.9% is driven by financial leverage (equity multiplier: 3.88x). 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

$22.48

Price/Value

0.67x

Margin of Safety

32.77%

Premium

-32.77%

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 NMRK's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. NMRK actually compounded EPS at 67.4% 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. NMRK trades at a -33% premium to its adjusted intrinsic value of $22.48, 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 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

$12.65

Median 1Y

$11.28

5th Pctile

$4.21

95th Pctile

$30.27

Ann. Volatility

59.8%

Analyst Target

$21.00

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

Executive	Salary	Stock	Total
Howard W. Lutnick, Former Executive Chairman	$136,986	$5,792,626	$5,929,612
Luis A. Alvarado, Chief Operating Officer	$953,846	$—	$3,103,846
Barry M. Gosin, Chief Executive Officer	$1,000,000	$—	$2,668,848
Michael J. Rispoli, Chief Financial Officer	$850,000	$—	$2,350,000
Stephen M. Merkel, Chief Legal Officer	$500,000	$—	$1,800,000

CEO Pay Ratio

36:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $2,668,848

Avg Employee Cost (SGA/emp): $74,880

Employees: 8,800

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

8,800

+17.3% YoY

Revenue / Employee

$379,213

Rev: $3,337,073,000

Profit / Employee

$14,339

NI: $126,186,000

SGA / Employee

$74,880

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	62.8%	77.7%	73.7%	27.0%	18.7%	6.8%	5.9%	2.5%	1.1%	3.5%	3.0%	3.7%	4.4%	5.0%	5.4%	6.1%	8.2%	8.5%	11.0%	10.9%	10.87%
ROA	11.9%	16.3%	17.0%	7.1%	4.5%	1.8%	1.6%	0.6%	0.3%	1.0%	0.8%	0.9%	1.1%	1.3%	1.5%	1.5%	2.0%	2.6%	3.0%	2.8%	2.80%
ROIC	26.2%	33.9%	37.0%	14.6%	9.8%	5.7%	4.0%	1.9%	1.3%	2.7%	2.2%	2.4%	2.6%	3.5%	3.5%	3.3%	4.2%	5.3%	6.2%	6.1%	6.06%
ROCE	34.0%	41.5%	40.3%	19.0%	13.6%	7.8%	6.1%	3.8%	2.5%	4.2%	3.7%	4.2%	4.6%	5.6%	5.5%	5.4%	6.9%	5.7%	6.7%	8.4%	8.45%
Gross Margin	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	1.0%	95.3%	94.5%	94.8%	94.82%
Operating Margin	28.6%	23.3%	1.9%	11.8%	8.8%	4.2%	-2.3%	4.7%	4.9%	10.6%	-4.1%	6.4%	6.0%	11.9%	-2.6%	5.6%	9.9%	12.3%	3.2%	4.5%	4.55%
Net Margin	16.3%	15.2%	0.1%	6.4%	4.2%	1.1%	-2.0%	1.1%	1.6%	4.9%	-3.0%	2.3%	2.6%	5.2%	-1.3%	2.7%	5.3%	6.8%	1.7%	2.2%	2.22%
EBITDA Margin	32.3%	27.4%	7.1%	17.0%	15.5%	11.9%	5.2%	11.9%	11.6%	16.5%	3.9%	12.9%	12.5%	17.0%	4.3%	11.0%	15.1%	17.2%	8.6%	9.7%	9.72%
FCF Margin	8.8%	-2.4%	4.4%	-16.4%	16.0%	41.9%	8.8%	-5.1%	16.3%	-13.0%	0.8%	10.5%	-8.8%	-1.5%	-5.3%	-8.6%	-1.8%	4.7%	2.3%	22.1%	22.12%
OCF Margin	9.4%	-1.7%	5.3%	-15.4%	17.6%	44.2%	11.6%	-1.8%	19.1%	-10.8%	2.6%	12.0%	-7.4%	-0.4%	-4.2%	-8.1%	-1.4%	5.2%	3.0%	23.5%	23.47%
ROE 3Y Avg	snapshot only																				6.61%
ROE 5Y Avg	snapshot only																				9.93%
ROA 3Y Avg	snapshot only																				1.73%
ROIC 3Y Avg	snapshot only																				2.95%
ROIC Economic	snapshot only																				5.74%
Cash ROA	snapshot only																				16.31%
Cash ROIC	snapshot only																				25.17%
CROIC	snapshot only																				23.73%
NOPAT Margin	snapshot only																				5.65%
Pretax Margin	snapshot only																				6.85%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				31.55%
SBC / Revenue	snapshot only																				5.99%

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	4.69	6.05	5.36	7.03	8.33	16.03	16.29	48.64	124.68	43.75	52.05	57.99	74.83	52.53	31.05	40.82	45.49	34.94	25.69	25.88	15.259
P/S Ratio	1.11	1.56	1.25	0.72	0.61	0.49	0.46	0.62	0.67	0.75	0.76	1.01	1.50	1.17	0.75	1.03	1.49	1.34	1.10	1.06	0.548
P/B Ratio	2.23	3.55	3.05	1.92	1.63	1.13	1.00	1.24	1.30	1.49	1.55	2.15	3.35	2.67	1.61	2.40	3.45	2.52	2.74	2.65	1.579
P/FCF	12.63	-66.38	28.16	-4.37	3.81	1.18	5.29	-12.30	4.09	-5.80	96.07	9.63	-17.07	-77.40	-14.17	-11.95	-81.56	28.52	47.03	4.81	4.811
P/OCF	11.84	—	23.67	—	3.47	1.12	4.00	—	3.48	—	29.78	8.43	—	—	—	—	—	25.63	36.97	4.54	4.535
EV/EBITDA	4.07	4.53	3.87	5.85	7.11	7.14	8.85	13.84	13.87	11.83	12.61	15.38	19.68	14.95	12.11	16.24	18.26	14.59	12.76	12.43	12.427
EV/Revenue	1.85	2.14	1.68	1.28	1.27	0.93	1.15	1.58	1.43	1.40	1.44	1.80	2.35	1.84	1.46	1.89	2.26	1.84	1.69	1.60	1.595
EV/EBIT	4.54	4.97	4.30	7.37	10.03	13.53	18.14	37.79	46.90	27.54	31.50	35.89	44.28	30.93	24.85	33.06	33.35	25.89	21.06	20.83	20.827
EV/FCF	21.01	-91.04	37.93	-7.79	7.90	2.21	13.07	-31.23	8.79	-10.73	181.42	17.07	-26.73	-121.33	-27.74	-21.89	-123.70	39.21	71.88	7.21	7.211
Earnings Yield	21.3%	16.5%	18.7%	14.2%	12.0%	6.2%	6.1%	2.1%	0.8%	2.3%	1.9%	1.7%	1.3%	1.9%	3.2%	2.4%	2.2%	2.9%	3.9%	3.9%	3.86%
FCF Yield	7.9%	-1.5%	3.6%	-22.9%	26.2%	85.0%	18.9%	-8.1%	24.5%	-17.3%	1.0%	10.4%	-5.9%	-1.3%	-7.1%	-8.4%	-1.2%	3.5%	2.1%	20.8%	20.79%
PEG Ratio	snapshot only																				0.172
Price/Tangible Book	snapshot only																				60.579
EV/OCF	snapshot only																				6.798
EV/Gross Profit	snapshot only																				1.659
Acquirers Multiple	snapshot only																				20.826
Shareholder Yield	snapshot only																				4.68%
Graham Number	snapshot only																				$8.65

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	1.13	1.15	1.19	1.06	1.08	0.68	0.75	0.84	0.93	1.01	1.01	1.04	1.02	1.00	1.01	1.04	1.03	2.25	1.70	1.09	1.094
Quick Ratio	1.13	1.15	1.19	1.06	1.08	0.67	0.74	0.84	0.93	1.01	1.01	1.04	1.02	1.00	1.01	1.04	1.03	2.25	1.70	1.09	1.094
Debt/Equity	2.05	1.88	1.41	1.74	1.94	1.19	1.65	2.05	1.62	1.40	1.49	1.81	2.05	1.68	1.67	2.15	1.94	1.14	1.69	1.50	1.503
Net Debt/Equity	1.48	1.32	1.06	1.50	1.74	0.99	1.47	1.91	1.50	1.27	1.38	1.66	1.89	1.51	1.55	2.00	1.78	0.94	1.45	1.32	1.323
Debt/Assets	0.48	0.46	0.40	0.45	0.47	0.36	0.44	0.50	0.43	0.39	0.42	0.46	0.48	0.43	0.45	0.51	0.49	0.40	0.45	0.42	0.419
Debt/EBITDA	2.24	1.75	1.33	2.97	4.10	4.01	5.91	9.00	8.01	6.01	6.43	7.30	7.68	6.00	6.38	7.94	6.79	4.82	5.14	4.70	4.697
Net Debt/EBITDA	1.62	1.23	1.00	2.57	3.67	3.34	5.27	8.39	7.41	5.44	5.93	6.71	7.11	5.41	5.93	7.38	6.22	3.98	4.41	4.14	4.136
Interest Coverage	29.26	37.48	36.99	16.99	12.35	5.99	5.25	3.17	2.25	5.06	4.70	5.54	5.94	5.13	5.09	5.04	3.11	3.47	4.23	4.29	4.294
Equity Multiplier	4.25	4.08	3.53	3.85	4.09	3.34	3.75	4.14	3.73	3.57	3.59	3.96	4.27	3.91	3.67	4.21	3.99	2.87	3.77	3.59	3.586
Cash Ratio	snapshot only																				0.135
Debt Service Coverage	snapshot only																				7.196
Cash to Debt	snapshot only																				0.119
FCF to Debt	snapshot only																				0.367
Defensive Interval	snapshot only																				105.2 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	0.50	0.63	0.73	0.69	0.61	0.59	0.57	0.50	0.51	0.59	0.56	0.53	0.55	0.60	0.62	0.59	0.60	0.68	0.69	0.68	0.682
Inventory Turnover	—	—	—	—	—	0.00	0.00	—	—	0.00	0.00	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	5.64	6.14	6.68	6.94	6.03	4.95	4.82	4.53	4.50	4.31	4.74	4.69	4.88	4.46	5.27	5.33	5.61	5.34	3.25	5.88	5.877
Payables Turnover	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	0.34	0.72	0.31	0.313
DSO	65	59	55	53	61	74	76	81	81	85	77	78	75	82	69	68	65	68	112	62	62.1 days
DIO	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0	0.0 days
DPO	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1060	509	1165	1164.8 days
Cash Conversion Cycle	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-992	-397	-1103	-1102.7 days
Fixed Asset Turnover	snapshot only																				6.324
Cash Velocity	snapshot only																				13.882
Capital Intensity	snapshot only																				1.439

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	30.3%	52.6%	60.0%	47.7%	22.2%	-6.9%	-17.3%	-25.8%	-24.4%	-8.7%	-2.0%	6.9%	12.1%	10.9%	14.5%	17.3%	21.0%	20.3%	21.6%	20.8%	20.84%
Net Income	7.2%	8.4%	5.8%	-40.0%	-62.2%	-88.9%	-89.9%	-90.7%	-94.5%	-48.9%	-49.5%	46.1%	3.2%	43.8%	87.4%	69.0%	97.9%	1.1%	1.2%	97.0%	96.98%
EPS	9.7%	5.7%	6.3%	-33.8%	-68.1%	-83.8%	-85.2%	-90.6%	-94.6%	-48.7%	-50.1%	40.0%	3.1%	-1.5%	85.7%	70.3%	99.3%	1.1%	49.7%	96.8%	96.77%
FCF	1.3%	91.4%	-11.0%	-1.6%	1.2%	17.6%	63.8%	77.1%	-23.2%	-1.3%	-91.1%	3.2%	-1.6%	87.1%	-8.6%	-2.0%	74.8%	4.7%	1.5%	4.1%	4.10%
EBITDA	2.5%	3.2%	3.0%	-34.1%	-52.1%	-74.5%	-75.3%	-61.2%	-56.2%	-17.1%	-13.5%	9.5%	29.7%	15.8%	20.7%	16.4%	25.5%	23.1%	33.3%	33.5%	33.54%
Op. Income	4.9%	5.8%	4.5%	-41.2%	-62.2%	-85.2%	-86.6%	-82.1%	-81.7%	-32.5%	-29.0%	28.1%	94.8%	30.2%	46.9%	33.4%	54.6%	43.5%	65.6%	62.3%	62.29%
OCF Growth	snapshot only																				4.50%
Asset Growth	snapshot only																				-3.74%
Equity Growth	snapshot only																				13.04%
Debt Growth	snapshot only																				-21.03%
Shares Change	snapshot only																				0.11%
Dividend Growth	snapshot only																				26.99%

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	10.4%	12.4%	14.3%	14.3%	11.6%	6.8%	4.2%	4.5%	6.4%	9.0%	9.0%	5.4%	1.2%	-2.0%	-2.5%	-2.4%	0.8%	6.8%	10.9%	14.9%	14.87%
Revenue 5Y	—	—	—	—	—	42.5%	23.4%	11.9%	4.4%	3.8%	3.9%	3.4%	3.3%	4.3%	4.9%	7.4%	10.3%	11.6%	12.5%	10.7%	10.67%
EPS 3Y	1.3%	94.9%	94.6%	29.7%	9.5%	-10.3%	0.7%	-36.4%	-43.1%	-17.8%	-18.5%	-55.6%	-58.7%	-56.6%	-48.4%	-39.2%	-23.9%	1.2%	11.5%	67.4%	67.43%
EPS 5Y	—	—	—	—	—	—	—	—	-26.3%	-9.2%	-11.4%	-22.0%	-21.9%	-18.3%	-1.1%	-9.3%	8.4%	2.3%	8.5%	-21.8%	-21.75%
Net Income 3Y	1.4%	91.6%	90.6%	37.5%	15.7%	-10.8%	-12.6%	-29.3%	-44.5%	-19.0%	-29.6%	-56.6%	-55.6%	-56.6%	-54.3%	-38.7%	-22.9%	14.9%	27.2%	69.4%	69.45%
Net Income 5Y	—	—	—	—	—	—	—	—	-21.9%	-16.8%	-18.8%	-18.7%	-18.5%	-12.2%	-8.7%	-2.7%	7.3%	9.5%	7.3%	-22.9%	-22.91%
EBITDA 3Y	66.7%	46.4%	44.4%	13.3%	-2.4%	-4.3%	-6.2%	-8.7%	-9.5%	-3.6%	-5.3%	-34.6%	-35.2%	-37.4%	-36.4%	-20.9%	-10.6%	5.7%	11.6%	19.4%	19.40%
EBITDA 5Y	—	—	—	—	—	57.3%	25.5%	12.3%	-0.6%	-7.8%	-8.5%	-9.1%	-12.0%	-3.4%	-2.9%	-0.6%	3.8%	5.0%	6.5%	-15.3%	-15.33%
Gross Profit 3Y	10.4%	12.4%	14.3%	14.3%	11.6%	6.8%	4.2%	4.5%	6.4%	9.0%	9.0%	5.4%	1.2%	-2.0%	-2.5%	-2.4%	0.8%	6.3%	9.9%	13.4%	13.37%
Gross Profit 5Y	—	—	—	—	—	42.5%	23.4%	11.9%	4.4%	3.8%	3.9%	3.4%	3.3%	4.3%	4.9%	7.4%	10.3%	11.3%	11.9%	9.8%	9.81%
Op. Income 3Y	59.9%	55.7%	55.9%	17.7%	4.0%	-9.0%	-12.0%	-20.5%	-25.6%	-12.0%	-19.6%	-48.7%	-48.7%	-49.3%	-48.1%	-32.6%	-18.0%	8.0%	20.0%	40.5%	40.50%
Op. Income 5Y	—	—	—	—	—	79.4%	20.7%	2.4%	-22.3%	-17.7%	-18.5%	-17.9%	-16.7%	-7.9%	-6.6%	-3.0%	4.4%	4.9%	4.8%	-21.8%	-21.82%
FCF 3Y	—	—	-20.3%	—	-9.3%	6.1%	-4.3%	—	—	—	-49.4%	-34.4%	—	—	—	—	—	-48.5%	-28.5%	—	—
FCF 5Y	—	—	—	—	—	27.6%	—	—	—	—	-40.6%	—	—	—	—	—	—	—	-11.8%	-3.4%	-3.41%
OCF 3Y	—	—	-18.3%	—	-8.0%	6.6%	0.0%	—	—	—	-27.1%	-31.7%	—	—	—	—	—	-47.6%	-29.4%	—	—
OCF 5Y	—	—	—	—	—	28.4%	—	—	—	—	-26.4%	1.1%	—	—	—	—	—	—	-8.9%	-2.5%	-2.55%
Assets 3Y	12.7%	14.7%	8.7%	9.6%	9.8%	7.2%	4.6%	6.1%	-1.8%	3.9%	3.4%	0.9%	-2.1%	-3.3%	3.0%	5.3%	4.8%	8.4%	5.9%	1.7%	1.72%
Assets 5Y	—	—	—	—	—	11.6%	7.8%	11.7%	3.6%	5.3%	5.1%	6.3%	6.9%	8.0%	4.5%	5.5%	3.1%	4.7%	5.7%	2.3%	2.28%
Equity 3Y	7.4%	5.7%	30.7%	4.8%	4.7%	25.4%	27.4%	27.7%	22.4%	24.1%	21.4%	-0.6%	-2.3%	-1.9%	1.6%	2.2%	5.7%	14.0%	5.7%	6.7%	6.68%
Book Value 3Y	3.8%	7.5%	33.5%	-1.2%	-0.8%	26.1%	46.7%	14.9%	25.6%	25.9%	40.5%	1.7%	-9.1%	-1.8%	14.6%	1.4%	4.3%	0.5%	-7.4%	5.4%	5.40%
Dividend 3Y	-44.2%	-29.8%	4.1%	9.2%	18.4%	33.7%	61.7%	10.5%	15.3%	6.8%	15.2%	2.1%	-7.2%	-0.3%	12.6%	-0.3%	-0.3%	-10.4%	-11.0%	7.0%	7.04%

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	0.52	0.43	0.46	0.61	0.70	0.83	0.73	0.63	0.45	0.38	0.28	0.16	0.13	0.23	0.17	0.23	0.45	0.83	0.90	0.85	0.847
Earnings Stability	0.63	0.62	0.64	0.62	0.33	0.23	0.22	0.11	0.02	0.00	0.00	0.04	0.06	0.04	0.05	0.23	0.17	0.13	0.13	0.51	0.514
Margin Stability	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	0.99	0.99	0.98	0.983
Rev. Growth Consistency	0.50	0.50	0.50	1.00	1.00	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
Earn. Growth Consistency	0.50	0.50	0.50	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	1	0	1	0	1	0	1	0	1	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.50	0.50	0.84	0.50	0.50	0.50	0.50	0.50	0.80	0.80	0.82	0.50	0.82	0.50	0.50	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	0.00	0.00	0.00	0.50	0.10	0.00	0.00	0.00	0.00	0.35	0.34	0.63	0.00	0.64	0.39	0.49	0.34	0.31	0.26	0.35	0.347
ROE Trend	0.35	0.43	0.40	-0.02	-0.10	-0.28	-0.30	-0.33	-0.33	-0.29	-0.29	-0.11	-0.06	-0.00	0.01	0.03	0.05	0.03	0.07	0.05	0.055
Gross Margin Trend	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	-0.01	-0.03	-0.04	-0.039
FCF Margin Trend	0.14	-0.03	-0.05	-0.33	0.32	0.64	0.03	-0.19	0.04	-0.33	-0.06	0.21	-0.25	-0.16	-0.10	-0.11	-0.06	0.12	0.05	0.21	0.212
Sustainable Growth Rate	62.0%	76.9%	72.9%	26.0%	17.5%	5.3%	4.2%	0.8%	-0.7%	1.8%	1.3%	2.0%	2.7%	3.3%	3.8%	4.4%	6.5%	7.1%	9.4%	8.9%	8.90%
Internal Growth Rate	13.4%	19.3%	20.2%	7.3%	4.4%	1.4%	1.2%	0.2%	—	0.5%	0.4%	0.5%	0.7%	0.9%	1.0%	1.1%	1.6%	2.2%	2.6%	2.3%	2.35%

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	0.40	-0.06	0.23	-1.51	2.40	14.37	4.07	-1.38	35.79	-6.25	1.75	6.88	-3.68	-0.16	-1.75	-3.21	-0.42	1.36	0.69	5.71	5.707
FCF/OCF	0.94	1.40	0.84	1.06	0.91	0.95	0.76	2.86	0.85	1.21	0.31	0.88	1.19	4.18	1.25	1.06	1.32	0.90	0.79	0.94	0.943
FCF/Net Income	snapshot only																				5.380
OCF/EBITDA	snapshot only																				1.828
CapEx/Revenue	0.6%	0.7%	0.8%	1.0%	1.6%	2.3%	2.8%	3.3%	2.8%	2.2%	1.8%	1.5%	1.4%	1.2%	1.1%	0.5%	0.4%	0.5%	0.6%	1.3%	1.34%
CapEx/Depreciation	snapshot only																				0.260
Accruals Ratio	0.07	0.17	0.13	0.18	-0.06	-0.24	-0.05	0.02	-0.09	0.07	-0.01	-0.05	0.05	0.02	0.04	0.06	0.03	-0.01	0.01	-0.13	-0.132
Sloan Accruals	snapshot only																				-0.017
Cash Flow Adequacy	snapshot only																				11.228
Earnings Quality Score	snapshot only																				0.750

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	0.3%	0.2%	0.2%	0.5%	0.8%	1.3%	1.8%	1.4%	1.3%	1.1%	1.1%	0.8%	0.5%	0.6%	1.0%	0.7%	0.5%	0.5%	0.6%	0.7%	1.42%
Dividend/Share	$0.04	$0.03	$0.03	$0.05	$0.06	$0.10	$0.12	$0.09	$0.08	$0.12	$0.12	$0.08	$0.08	$0.08	$0.12	$0.08	$0.08	$0.09	$0.08	$0.11	$0.18
Payout Ratio	1.3%	1.0%	1.1%	3.5%	6.5%	21.5%	29.3%	68.9%	1.7%	49.1%	57.1%	46.9%	39.6%	33.7%	30.3%	28.1%	20.6%	17.2%	14.6%	18.2%	18.15%
FCF Payout Ratio	3.4%	—	5.6%	—	3.0%	1.6%	9.5%	—	5.5%	—	1.1%	7.8%	—	—	—	—	—	14.1%	26.6%	3.4%	3.37%
Total Payout Ratio	25.6%	39.7%	44.5%	1.3%	2.0%	3.8%	3.9%	5.0%	5.4%	1.4%	2.6%	3.1%	4.0%	3.8%	2.9%	3.5%	1.7%	1.2%	1.9%	1.2%	1.21%
Div. Increase Streak	0	0	0	0	0	0	1	1	1	1	0	0	0	0	0	0	0	0	0	1	0
Chowder Number	-0.80	-0.67	0.06	0.56	0.96	1.36	1.78	0.87	0.43	0.18	-0.00	0.00	-0.00	-0.01	0.00	0.02	0.04	0.06	0.05	0.28	0.278
Buyback Yield	5.2%	6.4%	8.1%	17.9%	22.9%	22.1%	22.3%	8.9%	3.0%	2.0%	3.9%	4.5%	4.8%	6.6%	8.2%	8.0%	3.3%	2.9%	6.9%	4.0%	3.98%
Net Buyback Yield	5.2%	6.4%	8.1%	17.9%	22.9%	22.1%	22.3%	8.9%	3.0%	2.0%	3.9%	4.5%	4.8%	6.6%	8.2%	8.0%	3.3%	2.9%	6.9%	4.0%	3.98%
Total Shareholder Return	5.5%	6.6%	8.3%	18.4%	23.7%	23.4%	24.1%	10.3%	4.3%	3.1%	5.0%	5.3%	5.3%	7.3%	9.2%	8.7%	3.8%	3.4%	7.4%	4.7%	4.68%

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)	0.60	0.61	0.61	0.62	0.63	0.54	0.56	0.45	0.32	0.41	0.39	0.41	0.44	0.47	0.51	0.55	0.57	0.63	0.60	0.60	0.601
Interest Burden (EBT/EBIT)	0.97	0.97	0.97	0.94	0.92	0.83	0.81	0.69	0.56	0.83	0.81	0.84	0.85	0.81	0.80	0.80	0.84	0.86	0.89	0.89	0.894
EBIT Margin	0.41	0.43	0.39	0.17	0.13	0.07	0.06	0.04	0.03	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.07	0.07	0.08	0.08	0.077
Asset Turnover	0.50	0.63	0.73	0.69	0.61	0.59	0.57	0.50	0.51	0.59	0.56	0.53	0.55	0.60	0.62	0.59	0.60	0.68	0.69	0.68	0.682
Equity Multiplier	5.26	4.76	4.33	3.82	4.17	3.72	3.63	3.99	3.91	3.46	3.67	4.05	4.00	3.73	3.63	4.09	4.12	3.29	3.72	3.88	3.880

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)	$2.91	$2.95	$2.84	$1.32	$0.93	$0.48	$0.42	$0.12	$0.05	$0.25	$0.21	$0.17	$0.21	$0.24	$0.39	$0.30	$0.41	$0.50	$0.58	$0.58	$0.58
Book Value/Share	$6.12	$5.02	$4.98	$4.83	$4.76	$6.80	$6.87	$4.86	$4.81	$7.23	$7.05	$4.70	$4.59	$4.76	$7.49	$5.05	$5.40	$6.89	$5.46	$5.70	$9.68
Tangible Book/Share	$-0.01	$-0.02	$-0.12	$-0.68	$-0.78	$-1.00	$-1.36	$-0.90	$-0.83	$-0.80	$-0.82	$-0.63	$-0.75	$-0.58	$-0.14	$-0.27	$0.11	$3.44	$0.04	$0.25	$0.25
Revenue/Share	$12.29	$11.43	$12.19	$12.93	$12.66	$15.57	$14.77	$9.71	$9.42	$14.26	$14.28	$9.95	$10.25	$10.82	$16.20	$11.76	$12.48	$12.96	$13.57	$14.20	$19.96
FCF/Share	$1.08	$-0.27	$0.54	$-2.12	$2.03	$6.53	$1.30	$-0.49	$1.54	$-1.85	$0.11	$1.05	$-0.90	$-0.16	$-0.85	$-1.01	$-0.23	$0.61	$0.32	$3.14	$4.42
OCF/Share	$1.15	$-0.19	$0.64	$-2.00	$2.23	$6.88	$1.71	$-0.17	$1.80	$-1.54	$0.37	$1.20	$-0.76	$-0.04	$-0.68	$-0.95	$-0.17	$0.68	$0.41	$3.33	$4.68
Cash/Share	$3.44	$2.81	$1.75	$1.13	$0.95	$1.35	$1.22	$0.67	$0.58	$0.95	$0.81	$0.69	$0.70	$0.78	$0.89	$0.77	$0.89	$1.37	$1.31	$1.02	$1.44
EBITDA/Share	$5.58	$5.41	$5.30	$2.82	$2.25	$2.02	$1.91	$1.11	$0.97	$1.68	$1.64	$1.17	$1.22	$1.33	$1.96	$1.37	$1.55	$1.63	$1.80	$1.82	$1.82
Debt/Share	$12.51	$9.45	$7.03	$8.39	$9.23	$8.11	$11.31	$9.98	$7.79	$10.11	$10.51	$8.50	$9.40	$7.99	$12.48	$10.85	$10.51	$7.87	$9.23	$8.56	$8.56
Net Debt/Share	$9.07	$6.64	$5.27	$7.26	$8.28	$6.76	$10.09	$9.31	$7.21	$9.15	$9.70	$7.81	$8.70	$7.21	$11.59	$10.08	$9.62	$6.50	$7.92	$7.54	$7.54

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 Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.940
Altman Z-Prime	snapshot only																				2.592
Piotroski F-Score	7	5	7	3	5	6	4	2	4	3	5	7	4	3	4	4	5	7	6	7	7
Beneish M-Score	-1.67	-1.23	-1.59	-1.30	-2.77	-3.66	-2.57	-2.30	-2.84	-2.01	-2.53	-2.64	-2.14	-2.41	-2.22	-2.14	-2.25	-2.30	-0.90	-2.83	-2.825
Ohlson O-Score	snapshot only																				-7.096
ROIC (Greenblatt)	snapshot only																				36.81%
Net-Net WC	snapshot only																				$-5.27
EVA	snapshot only																				$-132578673.16

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																				BBB
Credit Score	63.83	63.90	73.83	61.20	55.79	62.03	41.33	29.55	38.46	45.17	42.45	47.67	43.66	40.76	43.55	40.56	40.02	57.19	53.95	59.27	59.270
Credit Grade	snapshot only																				9
Credit Trend	snapshot only																				18.710
Implied Spread (bps)	snapshot only																				275.000
Industry Credit Rank	snapshot only																				59
Sector Credit Rank	snapshot only																				74

NMRK 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

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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