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ORI NYSE

Old Republic International Corporation
1W: +0.8% 1M: -8.9% 3M: -8.4% YTD: -12.0% 1Y: -10.4% 3Y: +58.6% 5Y: +111.9%
$38.06
+0.57 (+1.52%)
 
Weekly Expected Move ±2.3%
$36 $37 $38 $39 $40
NYSE · Financial Services · Insurance - Property & Casualty · Tech Score Strong Sell · Power 37 · $9.3B mcap · 224M float · 0.630% daily turnover · Short 54% 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.

WEAK EDGE
45.1 / 100
NoneWeakNarrowWide
Primary source: Efficient Scale  ·  ROIC: 20.4%  ·  5Y Avg: 16.9%
Cost Advantage
50
Intangibles
43
Switching Cost
36
Network Effect
47
Scale ★
55
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. ORI shows a Weak competitive edge (45.1/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Efficient Scale. ROIC of 20.4% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

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
$39
Low
$39
Avg Target
$39
High
Based on 1 analyst since Jul 23, 2026 earnings
Analyst Recommendations
Strong Buy: 1Buy: 0Hold: 4Sell: 0Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$39.00
Analysts1
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2026-07-24 Piper Sandler — $40 $39 -1 -5.6% $41.32
2026-04-27 Raymond James — $42 $44 +2 +8.9% $40.41
2026-04-24 Piper Sandler Paul Newsome $38 $40 +2 +0.3% $39.90
2026-01-22 Piper Sandler — $51 $38 -13 -1.1% $38.44
2025-12-08 Piper Sandler Paul Newsome $46 $51 +5 +18.7% $42.95
2025-10-24 Piper Sandler — $47 $46 -1 +11.9% $41.12
2025-10-06 Piper Sandler Paul Newsome $45 $47 +2 +8.4% $43.35
2025-09-02 Piper Sandler Paul Newsome $42 $45 +3 +12.5% $40.01
2025-04-28 Raymond James — Initiated $42 — +11.5% $37.66
2025-04-25 Piper Sandler — $43 $42 -1 +12.7% $37.28
2025-04-01 Piper Sandler Paul Newsome $41 $43 +2 +8.5% $39.62
2024-12-09 Piper Sandler Paul Newsome $36 $41 +5 +9.7% $37.38
2024-10-04 Piper Sandler Paul Newsome $32 $36 +4 +1.9% $35.33
2024-02-11 Piper Sandler Paul Newsome Initiated $32 — +14.8% $27.87

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
5
ROE
5
ROA
5
D/E
2
P/E
3
P/B
2
The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. ORI 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
DateFromTo
2026-07-25 B+ A
2026-07-23 A B+
2026-04-24 B+ A
2026-04-23 A B+
2026-04-01 A- A
2026-02-04 A A-
2026-02-04 A- A
2026-01-03 B+ A-
2025-12-30 A- B+

InsiderStreet Scorecard

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

★ ★ ★ ★ ★ 56 Grade A
Profitability
59
Balance Sheet
66
Earnings Quality
71
Growth
67
Value
77
Momentum
88
Safety
100
Cash Flow
63
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. ORI scores highest in Safety (100/100) and lowest in Profitability (59/100). An overall grade of A places ORI 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-I Score
5.75
Safe Zone
Piotroski F-Score
7/9
✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓ ✓
Beneish M-Score
-3.09
Unlikely Manipulator
Ohlson O-Score
-6.79
Bankruptcy prob: 0.1%
Low Risk
Credit Rating
AA
Score: 86.5/100
Trend: Deteriorating
Earnings Quality
100/100
OCF/NI: 1.12x
Accruals: -0.5%
The Altman-I Score is adapted for insurance companies, emphasizing return on equity, tangible net worth, and cash reserves alongside the standard equity and earnings components. ORI scores 5.75, 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. ORI 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. ORI's score of -3.09 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. ORI'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. ORI receives an estimated rating of AA (score: 86.5/100), with a deteriorating 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). ORI'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
8.13x
PEG
0.28x
P/S
0.96x
P/B
1.51x
P/FCF
7.87x
P/OCF
7.87x
EV/EBITDA
6.46x
EV/Revenue
1.00x
EV/EBIT
6.46x
EV/FCF
7.58x
Earnings Yield
11.32%
FCF Yield
12.71%
Shareholder Yield
12.22%
Graham Number
$50.71
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 8.1x earnings, ORI trades at a deep value multiple. An earnings yield of 11.3% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $50.71 per share, suggesting a potential 33% 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
0.791
NI / EBT
×
Interest Burden
0.959
EBT / EBIT
×
EBIT Margin
0.155
EBIT / Rev
×
Asset Turnover
0.318
Rev / Assets
×
Equity Multiplier
4.964
Assets / Equity
=
ROE
18.6%
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. ORI's ROE of 18.6% is driven by financial leverage (equity multiplier: 4.96x). 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
$178.27
Price/Value
0.23x
Margin of Safety
77.05%
Premium
-77.05%
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 ORI's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. ORI actually compounded EPS at 19.8% 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 $178.27, ORI appears undervalued with a 77% margin of safety. The adjusted fair P/E of 38.5x compares to the current market P/E of 8.1x.

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
$38.06
Median 1Y
$42.27
5th Pctile
$26.91
95th Pctile
$66.33
Ann. Volatility
28.8%
Analyst Target
$39.00
25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

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

C-Suite Compensation

ExecutiveSalaryStockTotal
Name Positions Craig
ositions Craig R. Smiddy President and Chief Executive Officer
$990,385 $6,194,993 $8,238,993
Stephen J. Oberst​
Executive Vice President​
$706,539 $2,746,107 $3,844,902
W. Todd Gray
Executive Vice President and Treasurer ​​
$643,346 $2,456,544 $3,446,424
Carolyn Monroe —
enior Vice President — Title
$731,112 $2,074,889 $3,114,399
Frank J. Sodaro
Senior Vice President and Chief Financial Officer
$612,308 $2,086,730 $2,992,454

CEO Pay Ratio

Insufficient data for pay ratio.

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

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

Employees
9,500
+1.1% YoY
Revenue / Employee
$956,621
Rev: $9,087,900,000
Profit / Employee
$98,537
NI: $936,100,000
SGA / Employee
—
Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

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

Profitability
Metric Trend 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 23.0% 23.5% 20.3% 14.9% 13.3% 10.5% 8.9% 12.4% 15.9% 9.5% 11.2% 10.7% 15.2% 14.2% 12.7% 14.6% 13.0% 16.2% 17.3% 18.6% 18.59%
ROA 6.0% 6.4% 5.6% 3.9% 3.2% 2.7% 2.3% 3.0% 3.6% 2.3% 2.7% 2.4% 3.4% 3.1% 2.8% 3.1% 2.8% 3.2% 4.1% 3.7% 3.74%
ROIC -37.5% -52.6% -41.5% -26.1% -15.9% -13.9% -17.1% 11.5% 14.8% -11.1% 13.5% 14.2% 18.4% 20.5% 16.4% 17.9% 17.2% 21.1% 20.6% 20.4% 20.37%
ROCE 7.3% 16.2% 6.9% 5.1% 4.3% 3.7% 3.1% 4.0% 4.7% 3.1% 3.6% 3.2% 4.3% 4.1% 3.8% 4.1% 3.7% 4.1% 6.2% 4.8% 4.75%
Gross Margin 69.4% 79.1% 72.6% 64.9% 63.7% 76.0% 65.9% 65.9% 62.6% 63.4% 1.0% 60.9% 65.4% 60.6% 63.5% 62.6% 64.8% 12.0% 65.0% 64.2% 64.19%
Operating Margin 5.3% 29.0% 17.3% -3.0% -7.0% 27.7% 14.2% 10.9% 3.6% 12.2% 19.8% 6.1% 18.2% 6.6% 14.6% 11.8% 14.6% 11.2% 17.2% 17.4% 17.45%
Net Margin 4.4% 23.0% 13.9% -2.2% -5.3% 21.8% 11.4% 8.6% 3.0% 9.8% 15.7% 4.9% 14.5% 5.2% 11.6% 9.3% 11.5% 8.8% 13.8% 12.9% 12.88%
EBITDA Margin 6.1% 29.6% 18.1% -2.1% -6.0% 28.4% 15.1% 12.1% 4.6% 13.1% 20.6% 7.2% 19.1% 7.4% 15.4% 12.6% 15.3% 11.2% 18.0% 17.4% 17.45%
FCF Margin 14.6% 14.0% 14.1% 13.7% 14.7% 14.5% 13.7% 13.3% 11.3% 12.1% 11.8% 13.6% 14.1% 15.0% 15.7% 13.9% 14.8% 12.8% 13.0% 13.2% 13.24%
OCF Margin 14.6% 14.0% 14.1% 13.7% 14.7% 14.5% 13.7% 13.3% 11.3% 12.1% 11.8% 13.6% 14.1% 15.0% 15.7% 13.9% 14.8% 12.8% 13.0% 13.2% 13.24%
ROE 3Y Avg snapshot only 14.67%
ROE 5Y Avg snapshot only 14.41%
ROA 3Y Avg snapshot only 3.01%
ROIC 3Y Avg snapshot only 14.87%
ROIC Economic snapshot only 14.24%
Cash ROA snapshot only 4.05%
Cash ROIC snapshot only 22.43%
CROIC snapshot only 22.43%
NOPAT Margin snapshot only 12.02%
Pretax Margin snapshot only 14.89%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 12.10%
SBC / Revenue snapshot only 0.00%
Valuation
Metric Trend 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 3.84 3.84 4.69 5.56 6.72 9.11 10.94 8.15 7.22 12.10 10.60 11.24 8.83 9.74 12.27 10.60 12.63 11.50 9.75 8.84 8.132
P/S Ratio 0.59 0.63 0.68 0.62 0.64 0.77 0.83 0.83 0.87 1.00 1.01 0.97 1.01 1.01 1.15 1.09 1.20 1.19 1.06 1.04 0.959
P/B Ratio 0.87 0.86 0.93 0.85 0.95 1.01 1.00 1.03 1.12 1.13 1.18 1.22 1.29 1.48 1.62 1.53 1.64 1.82 1.68 1.66 1.507
P/FCF 4.07 4.50 4.85 4.55 4.33 5.34 6.05 6.23 7.69 8.22 8.58 7.11 7.17 6.73 7.34 7.88 8.16 9.25 8.20 7.87 7.866
P/OCF 4.07 4.50 4.85 4.55 4.33 5.34 6.05 6.23 7.69 8.23 8.58 7.11 7.17 6.73 7.34 7.88 8.16 9.25 8.20 7.87 7.866
EV/EBITDA -2.53 -1.98 -2.13 -3.64 -5.01 -5.23 -4.27 6.66 5.64 -5.55 6.70 6.64 5.55 5.97 7.97 6.91 8.01 7.54 6.72 6.46 6.462
EV/Revenue -0.50 -0.42 -0.40 -0.54 -0.63 -0.60 -0.44 0.91 0.91 -0.63 0.86 0.77 0.85 0.83 1.01 0.96 1.03 1.03 0.96 1.00 1.003
EV/EBIT -2.53 -1.98 -2.13 -3.64 -5.01 -5.23 -4.27 6.66 5.64 -5.55 6.70 6.64 5.55 5.97 7.97 6.91 8.01 7.54 6.72 6.46 6.462
EV/FCF -3.45 -2.98 -2.85 -3.92 -4.28 -4.13 -3.22 6.87 8.02 -5.16 7.32 5.70 6.01 5.55 6.46 6.90 6.96 8.00 7.43 7.58 7.579
Earnings Yield 26.0% 26.0% 21.3% 18.0% 14.9% 11.0% 9.1% 12.3% 13.8% 8.3% 9.4% 8.9% 11.3% 10.3% 8.1% 9.4% 7.9% 8.7% 10.3% 11.3% 11.32%
FCF Yield 24.6% 22.2% 20.6% 22.0% 23.1% 18.7% 16.5% 16.0% 13.0% 12.2% 11.7% 14.1% 13.9% 14.9% 13.6% 12.7% 12.3% 10.8% 12.2% 12.7% 12.71%
PEG Ratio snapshot only 0.281
Price/Tangible Book snapshot only 1.915
EV/OCF snapshot only 7.579
EV/Gross Profit snapshot only 1.933
Acquirers Multiple snapshot only 6.617
Shareholder Yield snapshot only 12.22%
Graham Number snapshot only $50.71
Leverage & Solvency
Metric Trend 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 — 1.42 — — — 50.68 — — — — — — — — — — — — — — —
Quick Ratio — 1.72 — — — 61.67 — — — — — — — — — — — — — — —
Debt/Equity 0.25 0.23 0.24 0.25 0.28 0.26 0.50 0.26 0.27 0.25 0.31 0.33 0.31 0.28 0.27 0.26 0.25 0.30 0.27 0.38 0.376
Net Debt/Equity -1.60 -1.42 -1.48 -1.59 -1.89 -1.80 -1.54 0.10 0.05 -1.84 -0.17 -0.24 -0.21 -0.26 -0.19 -0.19 -0.24 -0.25 -0.16 -0.06 -0.060
Debt/Assets 0.06 0.06 0.06 0.06 0.06 0.06 0.13 0.06 0.06 0.06 0.07 0.07 0.07 0.06 0.06 0.05 0.05 0.06 0.07 0.07 0.072
Debt/EBITDA 0.86 0.80 0.92 1.24 1.50 1.73 4.02 1.52 1.29 1.95 2.06 2.25 1.59 1.39 1.50 1.32 1.42 1.44 1.18 1.52 1.521
Net Debt/EBITDA -5.52 -4.96 -5.75 -7.87 -10.07 -12.00 -12.29 0.61 0.24 -14.41 -1.15 -1.64 -1.07 -1.27 -1.09 -0.98 -1.38 -1.17 -0.70 -0.24 -0.244
Interest Coverage 35.73 35.32 27.87 19.32 16.05 13.88 11.87 14.80 17.37 11.60 13.81 12.37 16.40 14.85 13.45 16.21 16.02 17.64 19.17 19.03 19.028
Equity Multiplier 3.95 3.62 3.72 3.96 4.39 4.08 4.01 4.22 4.46 4.13 4.23 4.57 4.48 4.96 4.74 4.73 4.71 5.06 3.66 5.20 5.202
Debt Service Coverage snapshot only 19.028
Cash to Debt snapshot only 1.161
FCF to Debt snapshot only 0.560
Defensive Interval snapshot only 595.0 days
Efficiency & Turnover
Metric Trend 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 0.39 0.39 0.38 0.35 0.34 0.32 0.30 0.30 0.30 0.28 0.29 0.28 0.30 0.30 0.30 0.31 0.30 0.31 0.38 0.32 0.318
Inventory Turnover — — — — — — — — — — — — — — — — — — — — —
Receivables Turnover 1.42 1.47 1.41 1.22 1.15 1.20 1.05 0.95 0.93 1.03 1.00 0.93 0.95 1.04 1.03 0.99 0.96 1.62 1.62 1.54 1.542
Payables Turnover — 16.40 — — — 16.60 — — — — — — — — — — — — — — —
DSO 257 248 259 299 317 304 346 382 392 355 364 395 385 351 355 368 382 226 225 237 236.7 days
DIO 0 -291 0 0 0 -617 0 0 0 -310 0 0 0 0 0 0 0 0 0 0 0.0 days
DPO 0 22 0 0 0 22 0 0 0 0 0 0 0 0 0 0 0 0 0 0 —
Cash Conversion Cycle 257 -66 259 299 317 -335 346 382 392 44 364 395 385 351 355 368 382 226 225 237 —
Cash Velocity snapshot only 3.648
Capital Intensity snapshot only 3.267
Growth (YoY)
Metric Trend 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 38.4% 27.1% 2.8% -4.6% -8.4% -13.5% -16.9% -12.9% -9.4% -10.2% -1.6% -0.5% 6.6% 13.4% 10.8% 14.2% 7.1% 10.4% 12.5% 11.6% 11.57%
Net Income 3.5% 1.7% -19.6% -38.0% -43.8% -55.2% -56.7% -21.0% 14.8% -12.8% 23.3% -16.0% 2.0% 42.4% 9.1% 37.1% -11.1% 9.8% 30.8% 27.5% 27.51%
EPS 3.4% 1.7% -21.1% -38.3% -43.9% -55.0% -55.0% -16.6% 24.5% -4.9% 31.7% -7.8% 11.2% 57.8% 20.4% 44.0% -8.6% 10.1% 30.8% 29.4% 29.38%
FCF 24.8% 10.7% 2.3% -5.0% -7.6% -10.8% -19.0% -15.4% -30.6% -24.8% -15.7% 1.5% 33.7% 40.1% 47.6% 16.7% 11.8% -5.6% -7.0% 6.5% 6.48%
EBITDA 3.3% 1.7% -18.5% -36.4% -42.0% -53.3% -54.5% -18.9% 15.6% -11.5% 22.3% -15.4% 1.9% 40.2% 9.3% 35.6% -10.5% 7.8% 26.9% 25.2% 25.17%
Op. Income 3.7% 1.8% -19.8% -38.4% -44.1% -55.4% -56.8% -20.3% 16.2% -12.8% 24.0% -16.6% 1.5% 43.2% 9.2% 38.4% -10.6% 10.6% 31.7% 30.3% 30.29%
OCF Growth snapshot only 6.48%
Asset Growth snapshot only 7.99%
Equity Growth snapshot only -1.82%
Debt Growth snapshot only 43.72%
Shares Change snapshot only -1.45%
Dividend Growth snapshot only 19.85%
Growth (CAGR)
Metric Trend 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 12.6% 15.8% 11.9% 10.0% 8.8% 3.9% 7.7% 5.5% 4.7% -0.4% -5.6% -6.1% -4.0% -4.1% -3.2% -0.3% 1.1% 4.0% 7.1% 8.2% 8.25%
Revenue 5Y 9.6% 9.6% 9.2% 7.9% 6.8% 5.2% 4.4% 4.0% 3.5% 3.8% 2.8% 2.9% 4.5% 2.7% 6.4% 6.0% 5.6% 4.3% 0.9% 1.1% 1.07%
EPS 3Y 22.1% 59.7% 19.1% 9.2% 5.8% -13.3% 1.5% 43.3% 45.7% 4.9% -22.4% -22.0% -8.1% -12.2% -10.6% 3.5% 8.2% 18.2% 27.5% 19.8% 19.78%
EPS 5Y 26.8% 26.2% 23.4% 16.1% 14.9% 4.0% 4.1% 8.2% 4.9% 11.8% 0.0% 0.0% 10.4% -0.5% 88.7% 31.4% 25.8% 14.9% -5.9% -2.4% -2.44%
Net Income 3Y 22.5% 60.6% 19.8% 9.6% 5.9% -13.4% 1.5% 41.9% 43.0% 2.3% -24.5% -25.6% -13.0% -17.8% -16.4% -3.1% 1.3% 10.9% 20.7% 13.7% 13.67%
Net Income 5Y 27.4% 26.9% 24.0% 16.5% 15.3% 4.1% 5.1% 7.2% 3.4% 10.1% -1.7% -2.7% 6.8% -4.2% 81.8% 26.9% 21.5% 10.9% -9.3% -6.4% -6.38%
EBITDA 3Y 23.3% 60.3% 20.2% 10.4% 6.6% -12.1% 1.2% 41.6% 42.7% 3.8% -23.2% -24.2% -12.0% -16.6% -15.2% -2.4% 1.8% 10.2% 19.3% 12.8% 12.79%
EBITDA 5Y 21.9% 21.9% 19.1% 12.2% 11.2% 3.2% 5.1% 8.1% 4.7% 11.2% -0.7% -1.6% 7.4% -3.4% 69.7% 26.6% 21.5% 11.1% -8.8% -5.9% -5.85%
Gross Profit 3Y 89.7% 1.4% 87.8% 86.0% 88.5% 59.7% 2.2% 1.2% 49.6% 13.4% -0.7% -6.5% -4.5% -5.3% -8.3% -4.7% -2.9% -6.8% -2.7% -1.3% -1.32%
Gross Profit 5Y 57.5% 55.9% 55.7% 53.4% 56.2% 47.6% 52.4% 48.2% 39.3% 56.4% 40.1% 41.1% 45.8% 33.5% 1.0% 60.7% 28.7% 7.4% -3.3% -5.7% -5.67%
Op. Income 3Y 24.2% 63.7% 20.2% 9.9% 5.9% -13.5% 1.8% 43.9% 44.8% 2.8% -24.6% -25.7% -13.0% -17.7% -16.4% -2.7% 1.8% 11.4% 21.3% 14.6% 14.58%
Op. Income 5Y 22.9% 22.9% 20.2% 13.0% 12.2% 3.4% 5.5% 8.3% 4.5% 11.3% -1.4% -2.5% 7.0% -4.1% 96.6% 28.0% 22.5% 11.5% -9.2% -5.9% -5.88%
FCF 3Y 36.6% 19.9% 19.1% 15.1% 14.5% 7.7% 1.1% -1.5% -7.1% -9.4% -11.2% -6.5% -5.0% -2.0% 0.3% 0.1% 1.2% -0.2% 5.0% 8.1% 8.05%
FCF 5Y 20.8% 15.5% 14.5% 10.4% 10.4% 20.9% 19.1% 16.1% 10.4% 3.0% 2.9% 5.5% 6.8% 5.7% 5.1% 2.5% 3.7% -0.4% -0.8% 0.3% 0.28%
OCF 3Y 36.6% 19.9% 19.1% 15.1% 14.5% 7.7% 1.1% -1.5% -7.1% -9.4% -11.2% -6.5% -5.0% -2.0% 0.3% 0.1% 1.2% -0.2% 5.0% 8.1% 8.05%
OCF 5Y 20.8% 15.5% 14.5% 10.4% 10.4% 20.9% 19.1% 16.1% 10.4% 3.0% 2.9% 5.5% 6.8% 5.7% 5.1% 2.5% 3.7% -0.4% -0.8% 0.3% 0.28%
Assets 3Y 8.1% 8.9% 7.4% 6.4% 5.6% 6.1% 7.7% 6.1% 5.9% 5.1% 5.5% 3.7% 4.9% 3.7% 3.7% 5.0% 6.6% 6.0% -5.2% 6.9% 6.91%
Assets 5Y 5.8% 6.1% 5.8% 5.5% 4.8% 5.3% 6.0% 5.8% 5.9% 6.5% 5.9% 5.6% 6.4% 5.7% 6.6% 6.2% 6.3% 5.6% -1.2% 5.1% 5.06%
Equity 3Y 6.0% 10.2% 6.0% 2.7% -0.7% 0.9% 7.2% 1.5% -0.9% 1.2% -0.3% -3.8% 0.6% -6.6% -4.3% -1.1% 4.2% -1.4% -2.3% -0.3% -0.26%
Book Value 3Y 5.7% 9.6% 5.4% 2.4% -0.8% 1.0% 8.0% 2.5% 1.0% 3.7% 2.6% 0.8% 6.4% -0.3% 2.4% 5.6% 11.2% 5.1% 3.2% 5.1% 5.11%
Dividend 3Y 31.1% 58.8% 8.3% 8.5% 22.1% -17.1% -6.1% -6.0% -34.3% -20.0% -19.8% -18.3% 5.5% 6.3% 50.5% 50.6% 51.1% 51.7% 11.7% 11.4% 11.39%
Growth Quality
Metric Trend 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 0.65 0.79 0.71 0.73 0.69 0.66 0.44 0.40 0.36 0.26 0.06 0.05 0.16 0.01 0.25 0.40 0.67 0.56 0.02 0.04 0.040
Earnings Stability 0.37 0.51 0.41 0.36 0.24 0.20 0.12 0.14 0.11 0.02 0.01 0.00 0.14 0.06 0.00 0.00 0.04 0.00 0.38 0.18 0.180
Margin Stability 0.06 0.13 0.03 0.07 0.19 0.36 0.22 0.28 0.43 0.48 0.58 0.58 0.57 0.62 0.46 0.51 0.65 0.79 0.87 0.87 0.867
Rev. Growth Consistency 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 1.00 1.00 1.00 1.00 1.000
Earn. Growth Consistency 0.50 0.50 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.00 0.50 0.00 1.00 0.50 1.00 0.50 0.00 1.00 1.00 1.00 1.000
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 0.92 0.85 0.82 0.50 0.50 0.92 0.94 0.95 0.91 0.94 0.99 0.83 0.96 0.85 0.96 0.96 0.88 0.89 0.890
Earnings Smoothness 0.00 0.07 0.78 0.53 0.44 0.24 0.21 0.77 0.86 0.86 0.79 0.83 0.98 0.65 0.91 0.69 0.88 0.91 0.73 0.76 0.758
ROE Trend 0.14 0.09 0.07 0.01 0.00 -0.05 -0.14 -0.07 -0.03 -0.07 -0.03 -0.03 -0.00 0.05 0.03 0.03 -0.02 0.04 0.05 0.06 0.061
Gross Margin Trend 0.55 0.43 0.41 0.32 0.23 0.11 -0.00 -0.04 -0.04 -0.08 0.03 0.02 0.03 0.04 -0.08 -0.07 -0.07 -0.18 -0.17 -0.16 -0.158
FCF Margin Trend 0.00 -0.01 -0.01 -0.01 -0.01 -0.01 -0.00 -0.00 -0.03 -0.02 -0.02 0.00 0.01 0.02 0.03 0.00 0.02 -0.01 -0.01 -0.00 -0.005
Sustainable Growth Rate 13.9% 7.9% 9.4% 3.9% -3.8% 1.6% -0.0% 3.1% 11.1% 5.1% 6.9% 6.2% 10.7% 9.7% 0.2% 2.0% 0.9% 2.7% 1.9% 3.7% 3.71%
Internal Growth Rate 3.8% 2.2% 2.6% 1.0% — 0.4% — 0.8% 2.6% 1.3% 1.7% 1.4% 2.5% 2.2% 0.0% 0.4% 0.2% 0.5% 0.5% 0.8% 0.75%
Cash Flow Quality
Metric Trend 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 0.94 0.85 0.97 1.22 1.55 1.70 1.81 1.31 0.94 1.47 1.24 1.58 1.23 1.45 1.67 1.35 1.55 1.24 1.19 1.12 1.124
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 1.124
OCF/EBITDA snapshot only 0.853
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%
Accruals Ratio 0.00 0.01 0.00 -0.01 -0.02 -0.02 -0.02 -0.01 0.00 -0.01 -0.01 -0.01 -0.01 -0.01 -0.02 -0.01 -0.02 -0.01 -0.01 -0.00 -0.005
Sloan Accruals snapshot only 0.190
Cash Flow Adequacy snapshot only 1.403
Earnings Quality Score snapshot only 1.000
Dividends & Buybacks
Metric Trend 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 10.3% 17.3% 11.4% 13.2% 19.1% 9.3% 9.2% 9.2% 4.2% 3.8% 3.6% 3.8% 3.3% 3.3% 8.0% 8.2% 7.4% 7.3% 9.1% 9.1% 9.81%
Dividend/Share $1.86 $3.35 $2.35 $2.38 $3.39 $1.92 $1.98 $2.02 $0.99 $0.99 $1.00 $1.05 $1.07 $1.09 $3.08 $3.09 $3.11 $3.13 $3.64 $3.71 $3.73
Payout Ratio 39.5% 66.4% 53.7% 73.6% 1.3% 84.4% 1.0% 75.0% 30.0% 46.0% 38.6% 42.2% 29.2% 31.9% 98.4% 86.4% 93.1% 83.6% 89.0% 80.1% 80.06%
FCF Payout Ratio 41.9% 77.7% 55.6% 60.3% 82.8% 49.5% 55.4% 57.3% 31.9% 31.3% 31.2% 26.7% 23.7% 22.0% 58.9% 64.2% 60.2% 67.2% 74.8% 71.3% 71.26%
Total Payout Ratio 39.5% 66.4% 53.7% 73.6% 1.4% 1.3% 1.7% 1.6% 1.0% 1.4% 1.2% 1.6% 1.2% 1.4% 2.0% 1.3% 1.2% 96.8% 1.1% 1.1% 1.08%
Div. Increase Streak 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0
Chowder Number 1.38 3.25 0.41 0.42 1.02 -0.34 -0.10 -0.10 -0.69 -0.49 -0.49 -0.49 0.03 0.02 1.87 1.89 1.91 1.95 0.27 0.27 0.272
Buyback Yield 0.0% 0.0% 0.0% 0.0% 1.9% 4.5% 6.5% 10.0% 9.9% 7.4% 7.9% 10.7% 9.9% 11.3% 8.1% 3.9% 2.3% 1.1% 2.6% 3.2% 3.16%
Net Buyback Yield -0.9% -1.0% -1.0% -0.9% 1.4% 4.1% 6.1% 9.5% 9.3% 7.0% 7.7% 10.5% 9.9% 11.3% 8.0% 3.8% 2.3% 1.1% 2.6% 3.1% 3.12%
Total Shareholder Return 9.4% 16.3% 10.4% 12.4% 20.5% 13.3% 15.2% 18.7% 13.4% 10.8% 11.3% 14.3% 13.2% 14.6% 16.1% 12.0% 9.6% 8.4% 11.7% 12.2% 12.18%
DuPont Factors
Metric Trend 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) 0.80 0.80 0.80 0.80 0.80 0.80 0.80 0.80 0.79 0.80 0.80 0.80 0.80 0.80 0.80 0.79 0.79 0.79 0.79 0.79 0.791
Interest Burden (EBT/EBIT) 0.97 0.97 0.96 0.95 0.94 0.93 0.92 0.93 0.94 0.91 0.93 0.92 0.94 0.93 0.93 0.94 0.94 0.96 0.96 0.96 0.959
EBIT Margin 0.20 0.21 0.19 0.15 0.13 0.11 0.10 0.14 0.16 0.11 0.13 0.12 0.15 0.14 0.13 0.14 0.13 0.14 0.14 0.16 0.155
Asset Turnover 0.39 0.39 0.38 0.35 0.34 0.32 0.30 0.30 0.30 0.28 0.29 0.28 0.30 0.30 0.30 0.31 0.30 0.31 0.38 0.32 0.318
Equity Multiplier 3.81 3.65 3.65 3.79 4.16 3.84 3.86 4.09 4.43 4.11 4.12 4.39 4.47 4.52 4.47 4.65 4.59 5.01 4.20 4.96 4.964
Per Share
Metric Trend 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) $4.70 $5.04 $4.38 $3.23 $2.64 $2.27 $1.97 $2.69 $3.29 $2.16 $2.60 $2.48 $3.65 $3.41 $3.13 $3.58 $3.34 $3.75 $4.09 $4.63 $4.63
Book Value/Share $20.85 $22.65 $22.10 $21.04 $18.70 $20.38 $21.54 $21.26 $21.13 $23.12 $23.24 $22.98 $25.10 $22.45 $23.70 $24.78 $25.73 $23.69 $23.68 $24.68 $25.31
Tangible Book/Share $20.85 $21.50 $22.10 $21.04 $18.70 $19.20 $21.54 $21.26 $21.13 $23.12 $23.24 $22.98 $25.10 $22.45 $23.70 $24.78 $25.73 $23.00 $21.04 $21.37 $21.37
Revenue/Share $30.41 $30.69 $30.10 $28.80 $27.85 $26.71 $25.97 $26.48 $27.37 $26.18 $27.29 $28.93 $31.82 $32.89 $33.37 $34.71 $35.04 $36.40 $37.55 $39.30 $40.20
FCF/Share $4.44 $4.31 $4.24 $3.95 $4.10 $3.87 $3.57 $3.52 $3.09 $3.18 $3.21 $3.93 $4.50 $4.93 $5.23 $4.81 $5.17 $4.66 $4.86 $5.20 $5.32
OCF/Share $4.44 $4.31 $4.24 $3.95 $4.10 $3.87 $3.57 $3.52 $3.09 $3.18 $3.21 $3.93 $4.50 $4.93 $5.23 $4.81 $5.17 $4.66 $4.86 $5.20 $5.32
Cash/Share $38.62 $37.45 $37.89 $38.68 $40.56 $41.93 $43.88 $3.30 $4.64 $48.25 $11.24 $13.11 $12.95 $12.16 $10.98 $11.07 $12.58 $12.96 $10.16 $10.77 $11.02
EBITDA/Share $6.05 $6.50 $5.69 $4.25 $3.50 $3.05 $2.69 $3.63 $4.39 $2.95 $3.51 $3.37 $4.88 $4.58 $4.23 $4.80 $4.49 $4.95 $5.38 $6.10 $6.10
Debt/Share $5.23 $5.22 $5.22 $5.25 $5.26 $5.28 $10.82 $5.52 $5.68 $5.74 $7.22 $7.58 $7.74 $6.35 $6.36 $6.37 $6.37 $7.14 $6.37 $9.28 $9.28
Net Debt/Share $-33.38 $-32.23 $-32.67 $-33.43 $-35.30 $-36.66 $-33.06 $2.23 $1.04 $-42.51 $-4.02 $-5.53 $-5.20 $-5.81 $-4.61 $-4.70 $-6.21 $-5.82 $-3.79 $-1.49 $-1.49
Academic Models
Metric Trend 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-I Score — — — — — — — — — — — — — — — — — — — — 5.749
Altman Z-Prime snapshot only 2.540
Piotroski F-Score 5 5 2 4 3 6 4 6 5 5 7 4 6 7 7 8 6 6 7 7 7
Beneish M-Score -2.32 -2.68 -2.29 -2.24 -2.36 -1.91 -2.35 -2.44 -2.34 -0.86 -2.67 -2.50 -2.45 -2.37 -2.10 -2.38 -2.45 -0.90 -3.23 -3.09 -3.094
Ohlson O-Score snapshot only -6.794
ROIC (Greenblatt) snapshot only 25.92%
Net-Net WC snapshot only $-80.13
EVA snapshot only $591912607.67
Credit
Metric Trend 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 93.39 94.13 94.65 89.28 90.55 85.86 77.08 85.90 90.24 86.45 77.92 80.86 84.62 86.18 87.25 88.98 88.04 86.85 87.04 86.52 86.515
Credit Grade snapshot only 3
Credit Trend snapshot only -2.464
Implied Spread (bps) snapshot only 80.000
Industry Credit Rank snapshot only 61
Sector Credit Rank snapshot only 89

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