$24.76

+0.22 (+0.90%)

Weekly Expected Move ±2.5%

$24 $24 $25 $25 $26

NASDAQ · Financial Services · Banks - Regional · Tech Score Strong Sell · Power 47 · $550.8M mcap · 22M float · 0.726% daily turnover · Short 50% 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

61.9 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: -37.6%

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. NRIM has a Narrow competitive edge (61.9/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Intangible Assets. Negative ROIC of -37.6% indicates the company is currently destroying value, though this may reflect a growth investment phase.

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

$30

Low

$30

Avg Target

$30

High

Based on 1 analyst since Jul 22, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 1Hold: 0Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$30.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-09-08	Hovde Group	—	Initiated	$30	—	+13.4%	$26.45

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.

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

Rating Change History

Date	From	To
2026-07-23	A-	A
2026-07-02	A	A-
2026-05-11	A+	A
2026-05-04	A	A+
2026-01-27	B+	A
2026-01-26	A	B+
2026-01-22	A-	A
2026-01-16	A	A-
2026-01-03	A-	A

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.

★ ★ ★ ★ ★ 71 Grade A+

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. NRIM scores highest in Cash Flow (99/100) and lowest in Balance Sheet (62/100). An overall grade of A+ places NRIM 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-B Score

3.53

Safe Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✗ ✓ ✗ ✓ ✓

Beneish M-Score

-3.48

Unlikely Manipulator

Ohlson O-Score

-5.40

Bankruptcy prob: 0.4%

Low Risk

Credit Rating

AA+

Score: 94.0/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 2.84x

Accruals: -3.8%

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. NRIM scores 3.53, placing it in the Safe Zone (safe > 3.0, distress < 1.5). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. NRIM 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. NRIM's score of -3.48 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. NRIM's implied 0.4% 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. NRIM receives an estimated rating of AA+ (score: 94.0/100), 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). NRIM'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

7.99x

PEG

0.15x

P/S

2.21x

P/B

1.58x

P/FCF

3.36x

P/OCF

3.22x

EV/EBITDA

0.97x

EV/Revenue

0.37x

EV/EBIT

1.02x

EV/FCF

0.50x

Earnings Yield

10.95%

FCF Yield

29.73%

Shareholder Yield

2.33%

Graham Number

$32.45

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 8.0x earnings, NRIM trades at a deep value multiple. An earnings yield of 10.9% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $32.45 per share, suggesting a potential 31% 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

0.767

NI / EBT

Interest Burden

0.982

EBT / EBIT

EBIT Margin

0.365

EBIT / Rev

Asset Turnover

0.075

Rev / Assets

Equity Multiplier

10.440

Assets / Equity

ROE

21.5%

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. NRIM's ROE of 21.5% is driven by financial leverage (equity multiplier: 10.44x). 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

$116.93

Price/Value

0.24x

Margin of Safety

76.28%

Premium

-76.28%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with NRIM's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. NRIM actually compounded EPS at 33.3% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. At an intrinsic value of $116.93, NRIM appears undervalued with a 76% margin of safety. The adjusted fair P/E of 38.5x compares to the current market P/E of 8.0x.

Profitability Trends

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

Leverage & Solvency Trends

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

Efficiency & Working Capital Trends

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

Growth Trends (YoY %)

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

Earnings Stability

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

Monte Carlo Price Simulation

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

Current Price

$24.76

Median 1Y

$27.23

5th Pctile

$13.77

95th Pctile

$54.46

Ann. Volatility

41.4%

Analyst Target

$30.00

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
R. Marc Langland, Chairman, President, Chief Executive Officer	$324,012	$—	$504,957
Joseph M. Beedle, Executive Vice President of the Company; President and CEO of the Bank	$245,337	$26,680	$468,604
Christopher N. Knudson, Executive Vice President, Chief Operating Officer	$237,911	$21,344	$421,610
Joseph M. Schierhorn, Executive Vice President, Chief Financial Officer	$238,366	$26,680	$420,183
Steven L. Hartung, Executive Vice President, Chief Credit Officer	$223,976	$26,680	$378,374

CEO Pay Ratio

3:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $504,957

Avg Employee Cost (SGA/emp): $164,031

Employees: 516

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

516

+2.6% YoY

Revenue / Employee

$470,019

Rev: $242,530,000

Profit / Employee

$125,209

NI: $64,608,000

SGA / Employee

$164,031

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	17.3%	16.3%	14.2%	12.8%	13.4%	13.5%	12.6%	13.3%	12.6%	11.2%	12.4%	13.7%	13.5%	14.7%	16.2%	16.7%	21.9%	21.8%	21.1%	21.5%	21.49%
ROA	1.7%	1.5%	1.3%	1.1%	1.1%	1.1%	1.1%	1.1%	1.0%	0.9%	1.1%	1.2%	1.1%	1.3%	1.4%	1.5%	2.0%	2.0%	2.0%	2.1%	2.06%
ROIC	-6.7%	-4.7%	-4.3%	-4.1%	-3.7%	-4.5%	-5.1%	-7.3%	-6.0%	-5.2%	-7.2%	-9.8%	-9.2%	-15.8%	-19.3%	-22.4%	-22.0%	-1.8%	-3.0%	-37.6%	-37.58%
ROCE	16.6%	15.8%	14.7%	13.2%	13.6%	13.4%	12.5%	10.7%	9.2%	9.8%	11.1%	11.4%	12.4%	13.0%	14.9%	13.4%	20.0%	2.6%	2.6%	2.7%	2.67%
Gross Margin	1.0%	1.0%	98.0%	96.0%	97.5%	88.2%	85.2%	79.2%	78.2%	76.2%	78.2%	79.1%	75.2%	77.8%	84.1%	78.5%	80.4%	82.9%	81.3%	81.8%	81.77%
Operating Margin	34.4%	29.2%	29.7%	20.5%	36.0%	27.3%	17.5%	17.9%	24.2%	19.7%	24.1%	24.9%	22.8%	24.3%	31.5%	25.7%	54.9%	29.3%	30.0%	31.7%	31.65%
Net Margin	26.2%	25.3%	23.4%	15.6%	27.9%	23.6%	13.9%	14.4%	19.7%	15.6%	18.8%	19.4%	17.3%	19.9%	23.9%	19.2%	43.0%	20.0%	22.9%	24.0%	24.01%
EBITDA Margin	37.7%	32.7%	33.3%	24.0%	39.0%	30.2%	20.6%	20.6%	26.9%	22.4%	26.1%	26.8%	25.6%	25.0%	33.1%	27.1%	56.3%	31.8%	31.5%	32.9%	32.95%
FCF Margin	43.2%	79.0%	63.4%	43.3%	57.7%	55.3%	42.4%	23.6%	12.4%	20.6%	13.7%	7.2%	1.7%	-5.0%	6.3%	21.4%	58.8%	55.2%	57.5%	74.7%	74.74%
OCF Margin	45.1%	80.8%	65.4%	45.0%	59.7%	58.1%	45.3%	27.6%	17.2%	24.6%	17.4%	9.9%	3.2%	-4.5%	6.4%	21.3%	59.7%	57.5%	60.8%	78.1%	78.12%
ROE 3Y Avg	snapshot only																				16.07%
ROE 5Y Avg	snapshot only																				14.97%
ROA 3Y Avg	snapshot only																				1.51%
ROIC Economic	snapshot only																				16.01%
Cash ROA	snapshot only																				5.70%
NOPAT Margin	snapshot only																				28.02%
Pretax Margin	snapshot only																				35.89%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				37.27%
SBC / Revenue	snapshot only																				0.90%

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	5.69	6.09	6.90	6.99	6.92	9.07	8.60	6.98	7.51	11.73	9.22	9.51	11.75	11.48	9.57	11.52	7.67	9.28	7.95	9.13	7.987
P/S Ratio	1.57	1.67	1.71	1.59	1.61	2.07	1.76	1.39	1.35	1.88	1.59	1.75	2.09	2.17	1.94	2.32	2.06	2.47	2.10	2.51	2.212
P/B Ratio	0.93	0.96	0.99	0.94	0.99	1.28	1.09	0.92	0.91	1.27	1.11	1.24	1.48	1.59	1.44	1.78	1.53	1.84	1.54	1.80	1.582
P/FCF	3.64	2.11	2.70	3.67	2.79	3.75	4.16	5.88	10.92	9.13	11.59	24.36	126.00	-43.45	30.62	10.81	3.50	4.48	3.64	3.36	3.363
P/OCF	3.49	2.07	2.61	3.53	2.70	3.57	3.89	5.04	7.86	7.65	9.14	17.60	66.25	—	30.14	10.90	3.45	4.30	3.44	3.22	3.217
EV/EBITDA	-10.80	-15.40	-16.52	-17.38	-19.27	-14.56	-13.59	-10.36	-12.61	-11.80	-9.29	-6.04	-5.02	-1.51	-1.64	0.43	-1.41	2.62	1.75	0.97	0.973
EV/Revenue	-4.26	-5.90	-5.80	-5.57	-6.27	-4.64	-3.90	-2.85	-3.11	-2.69	-2.24	-1.55	-1.27	-0.39	-0.46	0.12	-0.50	0.98	0.64	0.37	0.372
EV/EBIT	-11.73	-16.84	-18.30	-19.49	-21.49	-16.19	-15.25	-11.59	-14.27	-13.46	-10.40	-6.66	-5.55	-1.62	-1.75	0.46	-1.46	2.75	1.83	1.02	1.017
EV/FCF	-9.87	-7.48	-9.15	-12.89	-10.87	-8.39	-9.21	-12.07	-25.17	-13.05	-16.37	-21.54	-76.56	7.80	-7.21	0.56	-0.86	1.77	1.12	0.50	0.497
Earnings Yield	17.6%	16.4%	14.5%	14.3%	14.5%	11.0%	11.6%	14.3%	13.3%	8.5%	10.8%	10.5%	8.5%	8.7%	10.5%	8.7%	13.0%	10.8%	12.6%	10.9%	10.95%
FCF Yield	27.5%	47.3%	37.0%	27.2%	35.8%	26.6%	24.1%	17.0%	9.2%	10.9%	8.6%	4.1%	0.8%	-2.3%	3.3%	9.2%	28.5%	22.3%	27.5%	29.7%	29.73%
PEG Ratio	snapshot only																				0.152
Price/Tangible Book	snapshot only																				2.109
EV/OCF	snapshot only																				0.476
EV/Gross Profit	snapshot only																				0.456
Acquirers Multiple	snapshot only																				1.017
Shareholder Yield	snapshot only																				2.33%
Graham Number	snapshot only																				$32.45

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	0.39	0.45	0.44	0.41	0.44	0.41	0.36	0.32	0.33	0.33	0.29	0.27	0.26	0.24	0.22	0.24	0.25	93.98	46.93	61.92	61.924
Quick Ratio	0.39	0.45	0.44	0.41	0.44	0.41	0.36	0.32	0.33	0.33	0.29	0.27	0.26	0.24	0.22	0.24	0.25	93.98	46.93	61.92	61.924
Debt/Equity	0.15	0.15	0.16	0.16	0.17	0.16	0.15	0.39	0.37	0.14	0.14	0.25	0.12	0.15	0.11	0.28	0.09	0.29	0.28	0.27	0.268
Net Debt/Equity	-3.44	-4.36	-4.37	-4.25	-4.86	-4.13	-3.49	-2.80	-3.02	-3.08	-2.67	-2.33	-2.37	-1.87	-1.78	-1.69	-1.91	-1.11	-1.07	-1.53	-1.534
Debt/Assets	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.03	0.03	0.01	0.01	0.02	0.01	0.01	0.01	0.02	0.01	0.03	0.03	0.03	0.027
Debt/EBITDA	0.64	0.68	0.76	0.84	0.83	0.80	0.85	2.12	2.23	0.92	0.81	1.40	0.67	0.81	0.54	1.30	0.35	1.04	1.03	0.98	0.978
Net Debt/EBITDA	-14.78	-19.76	-21.39	-22.33	-24.22	-21.07	-19.73	-15.40	-18.08	-20.05	-15.87	-12.88	-13.29	-9.89	-8.63	-7.93	-7.15	-4.02	-3.94	-5.60	-5.604
Interest Coverage	11.91	12.70	12.13	11.60	10.69	7.38	3.84	2.38	1.51	1.10	1.08	1.11	1.08	1.15	1.30	1.36	1.89	2.01	2.02	2.19	2.190
Equity Multiplier	10.76	11.46	11.63	12.13	12.90	12.23	11.50	11.92	12.39	11.96	11.53	11.41	11.40	11.39	11.23	11.18	10.49	10.08	9.99	9.83	9.825
Cash Ratio	snapshot only																				54.657
Debt Service Coverage	snapshot only																				2.290
Cash to Debt	snapshot only																				6.732
FCF to Debt	snapshot only																				2.000
Defensive Interval	snapshot only																				2074.3 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	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.08	0.08	0.07	0.075
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	8.51	18.46	12.89	9.19	10.44	16.02	9.30	7.87	7.74	14.46	5.68	7.35	6.31	16.71	3.12	3.31	3.57	4.29	2.46	4.15	4.146
Payables Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
DSO	43	20	28	40	35	23	39	46	47	25	64	50	58	22	117	110	102	85	148	88	88.0 days
DIO	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	—
Cash Conversion Cycle	43	—	28	40	35	23	39	46	47	25	64	50	58	22	117	110	102	85	148	88	—
Fixed Asset Turnover	snapshot only																				6.002
Cash Velocity	snapshot only																				0.398
Capital Intensity	snapshot only																				13.717

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	10.5%	-2.3%	-14.1%	-15.2%	-9.2%	-1.8%	5.3%	14.5%	17.3%	17.8%	21.0%	19.6%	20.4%	23.8%	24.4%	27.5%	28.0%	23.8%	18.5%	11.6%	11.64%
Net Income	44.3%	14.1%	-26.1%	-31.7%	-23.4%	-18.1%	-13.0%	0.4%	-9.5%	-17.4%	1.5%	10.6%	19.3%	45.6%	46.4%	39.3%	93.2%	74.8%	54.3%	52.8%	52.77%
EPS	47.7%	16.8%	-22.6%	-26.2%	-16.4%	-12.3%	-9.3%	2.7%	-7.7%	-14.6%	5.2%	12.9%	20.2%	45.1%	45.0%	38.0%	92.0%	73.7%	53.3%	52.0%	51.99%
FCF	7.8%	3.7%	2.7%	-27.1%	21.2%	-31.3%	-29.5%	-37.4%	-74.9%	-56.1%	-60.9%	-63.6%	-83.8%	-1.3%	-42.6%	2.8%	44.3%	14.7%	9.8%	2.9%	2.89%
EBITDA	45.1%	12.2%	-24.5%	-32.4%	-25.2%	-18.4%	-13.9%	-1.6%	-11.1%	-15.8%	1.6%	11.1%	23.5%	40.3%	43.0%	38.1%	81.5%	78.7%	57.4%	53.8%	53.85%
Op. Income	49.9%	13.1%	-26.6%	-35.0%	-27.1%	-19.8%	-15.0%	-1.4%	-12.4%	-17.9%	1.8%	12.9%	26.5%	48.7%	50.0%	43.3%	93.2%	83.3%	60.0%	56.1%	56.13%
OCF Growth	snapshot only																				3.10%
Asset Growth	snapshot only																				5.29%
Equity Growth	snapshot only																				19.78%
Debt Growth	snapshot only																				15.69%
Shares Change	snapshot only																				0.51%
Dividend Growth	snapshot only																				2.90%

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	14.8%	12.4%	10.0%	8.0%	7.5%	7.8%	9.0%	7.9%	5.6%	4.2%	3.1%	5.1%	8.6%	12.7%	16.6%	20.4%	21.8%	21.7%	21.3%	19.4%	19.41%
Revenue 5Y	7.0%	6.0%	5.3%	5.1%	5.8%	6.9%	7.8%	9.1%	10.0%	10.4%	11.2%	11.5%	11.9%	12.8%	14.3%	13.9%	12.7%	11.6%	10.0%	10.6%	10.58%
EPS 3Y	42.1%	28.5%	23.2%	22.6%	19.0%	19.6%	22.9%	12.8%	4.5%	-4.3%	-9.6%	-5.0%	-2.5%	2.8%	11.4%	17.0%	28.7%	29.1%	32.7%	33.3%	33.29%
EPS 5Y	24.1%	24.1%	20.6%	19.9%	17.3%	23.1%	20.7%	18.0%	17.2%	9.7%	12.3%	16.4%	13.4%	16.2%	23.1%	17.4%	21.4%	17.1%	10.4%	12.4%	12.41%
Net Income 3Y	37.0%	23.3%	17.1%	15.8%	13.0%	14.1%	17.6%	8.1%	0.0%	-8.3%	-13.2%	-8.8%	-6.1%	-0.5%	8.9%	15.6%	27.8%	28.1%	31.8%	33.0%	33.00%
Net Income 5Y	21.5%	21.1%	17.0%	15.5%	12.9%	18.5%	16.2%	13.3%	12.2%	4.9%	7.3%	11.5%	9.3%	12.3%	19.3%	14.2%	18.2%	14.5%	8.1%	10.0%	10.03%
EBITDA 3Y	29.2%	24.3%	18.3%	14.9%	11.8%	12.4%	15.1%	7.3%	-1.2%	-8.3%	-12.9%	-9.6%	-6.3%	-1.2%	7.7%	14.7%	25.8%	28.3%	31.7%	33.2%	33.15%
EBITDA 5Y	18.2%	17.1%	13.6%	12.0%	8.9%	9.3%	8.0%	7.4%	7.5%	5.7%	7.7%	10.6%	8.9%	10.9%	17.2%	13.6%	16.7%	14.1%	8.3%	9.4%	9.43%
Gross Profit 3Y	15.4%	13.5%	11.3%	9.5%	8.2%	7.3%	8.0%	5.2%	1.5%	-1.5%	-4.2%	-2.6%	-0.2%	3.5%	8.0%	11.7%	13.9%	15.7%	16.3%	16.7%	16.70%
Gross Profit 5Y	7.8%	7.1%	6.1%	5.9%	6.9%	7.0%	7.1%	7.3%	6.3%	6.0%	6.6%	7.2%	7.0%	8.1%	10.4%	9.9%	9.4%	8.5%	6.1%	6.6%	6.60%
Op. Income 3Y	32.0%	25.9%	19.1%	16.6%	13.1%	13.8%	17.3%	8.2%	-1.5%	-9.4%	-14.0%	-10.2%	-6.9%	-0.7%	9.1%	16.9%	28.9%	30.8%	34.7%	36.2%	36.21%
Op. Income 5Y	19.0%	17.9%	14.1%	12.4%	9.0%	10.1%	9.0%	7.7%	8.0%	5.6%	7.9%	12.0%	9.9%	12.5%	19.8%	15.4%	18.5%	15.2%	8.8%	10.1%	10.11%
FCF 3Y	60.7%	72.3%	49.6%	50.8%	3.0%	—	—	—	—	—	0.5%	-45.1%	-63.3%	—	-45.9%	-4.7%	22.6%	21.7%	34.3%	75.3%	75.26%
FCF 5Y	—	45.1%	23.2%	21.8%	20.4%	43.9%	—	58.1%	4.8%	9.1%	-1.6%	-4.8%	20.4%	—	—	—	—	—	44.5%	19.7%	19.69%
OCF 3Y	44.2%	63.8%	43.1%	41.0%	1.5%	—	—	—	—	—	5.0%	-39.5%	-55.2%	—	-46.2%	-6.2%	21.9%	21.3%	33.8%	69.0%	69.00%
OCF 5Y	1.5%	40.6%	21.2%	18.5%	18.4%	32.3%	83.8%	32.0%	4.0%	9.1%	-0.2%	-3.2%	2.9%	—	—	—	—	—	43.0%	19.9%	19.88%
Assets 3Y	20.2%	21.9%	20.0%	18.9%	18.9%	17.6%	15.1%	9.4%	10.0%	9.8%	5.5%	4.8%	4.3%	3.7%	6.1%	7.5%	6.8%	7.2%	9.1%	9.0%	8.99%
Assets 5Y	11.1%	12.3%	11.7%	11.8%	12.3%	12.0%	11.1%	12.4%	13.2%	13.3%	12.7%	12.7%	12.9%	13.1%	13.2%	10.0%	9.6%	9.2%	7.4%	6.8%	6.84%
Equity 3Y	6.1%	4.9%	2.6%	1.4%	1.1%	1.8%	4.3%	2.3%	1.6%	1.9%	1.1%	1.4%	2.4%	3.9%	7.4%	10.5%	14.4%	14.3%	14.4%	16.2%	16.24%
Book Value 3Y	10.0%	9.3%	8.0%	7.4%	6.5%	6.7%	9.0%	6.7%	6.2%	6.3%	5.3%	5.6%	6.4%	7.4%	9.8%	11.7%	15.3%	15.2%	15.1%	16.5%	16.49%
Dividend 3Y	5.2%	6.3%	7.5%	7.7%	8.5%	9.1%	11.3%	14.3%	14.1%	13.4%	9.9%	6.6%	5.1%	3.7%	3.2%	2.6%	2.3%	2.7%	2.2%	1.3%	1.35%

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	0.67	0.66	0.53	0.60	0.74	0.76	0.60	0.70	0.80	0.79	0.66	0.74	0.84	0.88	0.89	0.84	0.78	0.75	0.71	0.80	0.795
Earnings Stability	0.81	0.89	0.62	0.64	0.73	0.77	0.43	0.43	0.42	0.22	0.13	0.22	0.18	0.18	0.16	0.24	0.37	0.35	0.27	0.41	0.411
Margin Stability	0.97	0.97	0.98	0.98	0.97	0.97	0.97	0.95	0.93	0.91	0.91	0.90	0.89	0.88	0.89	0.89	0.90	0.90	0.90	0.90	0.903
Rev. Growth Consistency	1.00	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	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.00	0.00	0.50	1.00	0.50	0.50	1.00	1.00	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	0	1	1	1	0	1	1	1
Earnings Persistence	0.82	0.94	0.90	0.87	0.91	0.93	0.95	1.00	0.96	0.93	0.99	0.96	0.92	0.82	0.81	0.84	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	0.64	0.87	0.70	0.62	0.74	0.80	0.86	1.00	0.90	0.81	0.99	0.90	0.82	0.63	0.62	0.67	0.36	0.46	0.57	0.58	0.582
ROE Trend	0.05	0.03	0.01	-0.01	-0.00	-0.01	-0.04	-0.03	-0.03	-0.04	-0.02	-0.00	-0.01	0.01	0.03	0.02	0.08	0.07	0.06	0.05	0.055
Gross Margin Trend	0.05	0.05	0.04	0.03	0.02	-0.02	-0.07	-0.11	-0.16	-0.18	-0.18	-0.15	-0.13	-0.10	-0.06	-0.04	0.00	0.03	0.02	0.03	0.031
FCF Margin Trend	0.46	0.95	0.70	0.32	0.40	0.30	0.03	-0.23	-0.38	-0.47	-0.39	-0.26	-0.33	-0.43	-0.22	0.06	0.52	0.47	0.48	0.60	0.604
Sustainable Growth Rate	13.3%	12.2%	10.1%	8.6%	8.9%	8.8%	7.5%	7.6%	6.5%	5.2%	6.6%	8.0%	7.9%	9.3%	10.9%	11.4%	17.0%	16.9%	16.4%	16.9%	16.91%
Internal Growth Rate	1.3%	1.2%	0.9%	0.8%	0.8%	0.8%	0.6%	0.6%	0.5%	0.4%	0.6%	0.7%	0.7%	0.8%	1.0%	1.0%	1.6%	1.6%	1.6%	1.6%	1.65%

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	1.63	2.95	2.64	1.98	2.56	2.54	2.21	1.38	0.96	1.53	1.01	0.54	0.18	-0.24	0.32	1.06	2.22	2.16	2.31	2.84	2.839
FCF/OCF	0.96	0.98	0.97	0.96	0.97	0.95	0.94	0.86	0.72	0.84	0.79	0.72	0.53	1.12	0.98	1.01	0.98	0.96	0.95	0.96	0.957
FCF/Net Income	snapshot only																				2.716
OCF/EBITDA	snapshot only																				2.044
CapEx/Revenue	1.9%	1.8%	2.1%	1.8%	2.0%	2.9%	2.9%	3.9%	4.8%	4.0%	3.7%	2.8%	1.5%	0.5%	0.1%	0.2%	0.9%	2.3%	3.3%	3.4%	3.38%
CapEx/Depreciation	snapshot only																				2.018
Accruals Ratio	-0.01	-0.03	-0.02	-0.01	-0.02	-0.02	-0.01	-0.00	0.00	-0.00	-0.00	0.01	0.01	0.02	0.01	-0.00	-0.02	-0.02	-0.03	-0.04	-0.038
Sloan Accruals	snapshot only																				0.848
Cash Flow Adequacy	snapshot only																				8.452
Earnings Quality Score	snapshot only																				1.000

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	4.1%	4.1%	4.3%	4.7%	4.8%	3.8%	4.7%	6.2%	6.4%	4.6%	5.1%	4.4%	3.5%	3.2%	3.5%	2.7%	2.9%	2.4%	2.8%	2.3%	2.63%
Dividend/Share	$0.37	$0.38	$0.40	$0.41	$0.44	$0.46	$0.50	$0.55	$0.58	$0.61	$0.61	$0.61	$0.61	$0.61	$0.62	$0.63	$0.63	$0.65	$0.65	$0.65	$0.65
Payout Ratio	23.3%	25.0%	29.3%	33.0%	33.2%	34.4%	40.7%	43.2%	47.9%	53.6%	47.1%	41.9%	41.6%	37.2%	33.1%	31.5%	22.6%	22.5%	22.4%	21.3%	21.30%
FCF Payout Ratio	14.9%	8.7%	11.5%	17.3%	13.4%	14.2%	19.7%	36.4%	69.6%	41.7%	59.2%	1.1%	4.5%	—	1.1%	29.5%	10.3%	10.9%	10.3%	7.8%	7.84%
Total Payout Ratio	35.3%	55.8%	76.1%	1.1%	1.1%	80.4%	74.5%	56.4%	71.8%	89.2%	76.7%	60.6%	51.7%	39.3%	33.1%	31.5%	22.6%	22.5%	22.4%	21.3%	21.30%
Div. Increase Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.08	0.10	0.11	0.10	0.14	0.16	0.26	0.38	0.37	0.33	0.22	0.12	0.07	0.04	0.06	0.07	0.08	0.08	0.07	0.06	0.058
Buyback Yield	2.1%	5.0%	6.8%	11.6%	10.6%	5.1%	3.9%	1.9%	3.2%	3.0%	3.2%	2.0%	0.9%	0.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	1.5%	3.8%	5.5%	10.1%	9.9%	4.9%	3.7%	1.6%	2.9%	2.8%	3.0%	1.8%	0.7%	-0.0%	-0.2%	-0.2%	-0.2%	-0.1%	-0.2%	-0.2%	-0.15%
Total Shareholder Return	5.6%	7.9%	9.7%	14.9%	14.7%	8.7%	8.4%	7.8%	9.3%	7.4%	8.1%	6.2%	4.3%	3.2%	3.3%	2.6%	2.8%	2.3%	2.6%	2.2%	2.18%

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)	0.76	0.78	0.78	0.79	0.80	0.80	0.80	0.81	0.82	0.80	0.80	0.79	0.78	0.79	0.78	0.77	0.78	0.76	0.77	0.77	0.767
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	0.98	0.98	0.98	0.982
EBIT Margin	0.36	0.35	0.32	0.29	0.29	0.29	0.26	0.25	0.22	0.20	0.22	0.23	0.23	0.24	0.26	0.26	0.35	0.36	0.35	0.37	0.365
Asset Turnover	0.06	0.06	0.05	0.05	0.05	0.05	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.07	0.07	0.07	0.07	0.08	0.08	0.07	0.075
Equity Multiplier	10.30	10.55	10.88	11.19	11.76	11.83	11.56	12.02	12.63	12.09	11.51	11.65	11.86	11.66	11.37	11.29	10.90	10.67	10.55	10.44	10.440

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)	$1.58	$1.52	$1.36	$1.25	$1.32	$1.33	$1.23	$1.28	$1.22	$1.14	$1.29	$1.45	$1.46	$1.65	$1.88	$2.00	$2.81	$2.87	$2.88	$3.04	$3.04
Book Value/Share	$9.67	$9.62	$9.41	$9.27	$9.18	$9.47	$9.75	$9.75	$10.01	$10.52	$10.77	$11.12	$11.64	$11.93	$12.47	$12.93	$14.05	$14.49	$14.87	$15.41	$15.65
Tangible Book/Share	$8.51	$8.26	$8.10	$7.88	$7.71	$7.81	$8.26	$8.24	$8.44	$8.80	$9.15	$9.45	$9.96	$8.34	$9.01	$9.44	$10.55	$12.24	$12.62	$13.16	$13.16
Revenue/Share	$5.71	$5.54	$5.47	$5.50	$5.66	$5.82	$6.00	$6.44	$6.77	$7.10	$7.53	$7.87	$8.22	$8.75	$9.28	$9.94	$10.46	$10.76	$10.92	$11.04	$11.21
FCF/Share	$2.47	$4.37	$3.47	$2.38	$3.26	$3.22	$2.55	$1.52	$0.84	$1.46	$1.03	$0.57	$0.14	$-0.44	$0.59	$2.13	$6.15	$5.94	$6.28	$8.25	$8.38
OCF/Share	$2.57	$4.48	$3.58	$2.47	$3.38	$3.39	$2.72	$1.77	$1.16	$1.74	$1.31	$0.78	$0.26	$-0.39	$0.60	$2.11	$6.25	$6.18	$6.64	$8.62	$8.76
Cash/Share	$34.77	$43.40	$42.57	$40.86	$46.12	$40.58	$35.48	$31.09	$33.93	$33.90	$30.28	$28.75	$29.02	$24.18	$23.57	$25.43	$28.12	$20.27	$20.00	$27.76	$28.21
EBITDA/Share	$2.25	$2.12	$1.92	$1.76	$1.84	$1.86	$1.72	$1.78	$1.67	$1.62	$1.81	$2.01	$2.08	$2.26	$2.57	$2.76	$3.75	$4.01	$4.02	$4.22	$4.22
Debt/Share	$1.45	$1.45	$1.46	$1.48	$1.52	$1.49	$1.47	$3.76	$3.72	$1.48	$1.47	$2.81	$1.40	$1.82	$1.39	$3.58	$1.33	$4.15	$4.14	$4.12	$4.12
Net Debt/Share	$-33.32	$-41.95	$-41.11	$-39.38	$-44.60	$-39.09	$-34.01	$-27.33	$-30.21	$-32.42	$-28.81	$-25.94	$-27.62	$-22.35	$-22.18	$-21.84	$-26.80	$-16.11	$-15.85	$-23.64	$-23.64

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.532
Altman Z-Prime	snapshot only																				2.050
Piotroski F-Score	8	7	6	6	6	5	6	5	4	6	6	6	6	4	6	5	7	7	6	7	7
Beneish M-Score	-2.03	-3.07	-2.89	-2.31	-3.18	-1.55	-1.20	-1.93	2.66	-1.98	-1.72	-2.23	-2.57	-1.55	-1.23	-0.09	0.14	-2.56	-2.47	-3.48	-3.477
Ohlson O-Score	snapshot only																				-5.401
ROIC (Greenblatt)	snapshot only																				12.30%
Net-Net WC	snapshot only																				$-104.53

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																				AA+
Credit Score	92.05	91.75	89.61	88.94	87.70	89.42	89.39	82.24	68.39	83.39	86.43	71.38	67.96	59.55	80.47	87.85	89.61	89.71	91.51	93.99	93.990
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				6.140
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				97
Sector Credit Rank	snapshot only																				89

NRIM 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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