$33.26

-0.20 (-0.60%)

Weekly Expected Move ±15.0%

$24 $29 $34 $40 $45

NASDAQ · Healthcare · Drug Manufacturers - Specialty & Generic · Alpha Radar Sell · Power 37 · $1.3B mcap · 40M float · 0.852% 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.

WEAK EDGE

51.2 / 100

NoneWeakNarrowWide

Primary source: Cost Advantage · ROIC: 12.7% · 5Y Avg: 6.7%

Cost Advantage ★

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. PAHC shows a Weak competitive edge (51.2/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Cost Advantage. ROIC of 12.7% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

$36

Avg Target

$36

High

Based on 3 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 6Hold: 4Sell: 4Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$36.33

Analysts3

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-02-06	Morgan Stanley	—	$34	$49	+15	-8.7%	$53.66
2025-08-28	Morgan Stanley	—	$26	$34	+8	-11.6%	$38.46
2025-06-25	Morgan Stanley	—	$20	$26	+6	+5.1%	$24.75
2025-04-15	Morgan Stanley	Erin Wright	$21	$20	-1	+19.0%	$16.81
2022-12-21	Roth Capital	—	Initiated	$18	—	+41.2%	$12.75
2022-09-16	Barclays	—	Initiated	$17	—	+19.0%	$14.29
2022-08-26	Morgan Stanley	—	Initiated	$21	—	+30.8%	$16.06

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-

May 22, 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. PAHC receives an overall rating of B-. Strongest factors: ROE (5/5), ROA (5/5). Areas of concern: DCF (1/5), D/E (1/5), P/E (2/5), P/B (1/5).

Rating Change History

Date	From	To
2026-05-06	B	B-
2026-04-01	B-	B
2026-03-06	B	B-
2026-02-05	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.

★ ★ ★ ★ ★ 65 Grade C

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. PAHC scores highest in Momentum (92/100) and lowest in Balance Sheet (40/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

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

Altman Z-Score

3.09

Safe Zone

Piotroski F-Score

7/9

✓ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓

Beneish M-Score

-2.20

Unlikely Manipulator

Ohlson O-Score

-6.29

Bankruptcy prob: 0.2%

Low Risk

Credit Rating

BBB+

Score: 60.5/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 1.01x

Accruals: -0.1%

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. PAHC scores 3.09, placing it in the Safe Zone (safe > 2.99, distress < 1.81). 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. PAHC 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. PAHC's score of -2.20 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. PAHC's implied 0.2% 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. PAHC receives an estimated rating of BBB+ (score: 60.5/100), 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). PAHC'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

14.16x

PEG

0.07x

P/S

0.90x

P/B

3.73x

P/FCF

32.36x

P/OCF

16.44x

EV/EBITDA

9.80x

EV/Revenue

1.51x

EV/EBIT

12.64x

EV/FCF

46.83x

Earnings Yield

6.02%

FCF Yield

3.09%

Shareholder Yield

1.27%

Graham Number

$18.79

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 14.2x earnings, PAHC trades at a reasonable valuation. An earnings yield of 6.0% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $18.79 per share, 77% 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

0.730

NI / EBT

Interest Burden

0.720

EBT / EBIT

EBIT Margin

0.120

EBIT / Rev

Asset Turnover

1.250

Rev / Assets

Equity Multiplier

4.320

Assets / Equity

ROE

34.0%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. PAHC's ROE of 34.0% is driven by financial leverage (equity multiplier: 4.32x). 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.

Adj. Growth Rate

35.95%

Fair P/E

80.41x

Intrinsic Value

$180.80

Price/Value

0.21x

Margin of Safety

79.34%

Premium

-79.34%

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 PAHC's realized 36.0% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $180.80, PAHC appears undervalued with a 79% margin of safety. The adjusted fair P/E of 80.4x compares to the current market P/E of 14.2x.

Profitability Trends

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

Leverage & Solvency Trends

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

Efficiency & Working Capital Trends

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

Growth Trends (YoY %)

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

Earnings Stability

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

Monte Carlo Price Simulation

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

Current Price

$33.26

Median 1Y

$30.24

5th Pctile

$13.41

95th Pctile

$68.33

Ann. Volatility

49.6%

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

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
Jack C. Bendheim, Chairman of the Board, President, and Chief Executive Officer	$2,442,600	$—	$5,284,122
Larry L. Miller, Chief Operating Officer	$710,850	$—	$2,429,538
Glenn David, Financial ancial Officer	$672,767	$—	$1,273,947
Daniel M. Bendheim, Director and Executive Vice President, Corporate Strategy	$575,000	$—	$1,119,780
Judith Weinstein, President, e President, General Counsel and Corporate Secretary	$500,000	$—	$1,043,927

CEO Pay Ratio

45:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $5,284,122

Avg Employee Cost (SGA/emp): $116,960

Employees: 2,475

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

2,475

+27.6% YoY

Revenue / Employee

$523,723

Rev: $1,296,215,000

Profit / Employee

$19,501

NI: $48,264,000

SGA / Employee

$116,960

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	21.2%	25.5%	22.8%	25.0%	27.6%	19.6%	18.6%	14.5%	11.4%	12.0%	7.6%	5.4%	4.8%	0.9%	6.5%	7.2%	11.8%	17.8%	25.0%	34.0%	33.96%
ROA	5.7%	6.7%	6.0%	6.6%	7.2%	5.5%	5.2%	4.1%	3.2%	3.4%	2.2%	1.6%	1.4%	0.2%	1.8%	2.0%	3.3%	4.1%	5.8%	7.9%	7.86%
ROIC	9.4%	10.7%	10.5%	10.6%	10.2%	8.4%	8.3%	7.1%	7.0%	6.1%	4.6%	4.2%	4.2%	1.8%	5.8%	7.0%	9.0%	8.1%	10.4%	12.7%	12.75%
ROCE	12.4%	11.6%	10.6%	11.6%	13.0%	11.4%	10.9%	9.6%	8.2%	9.1%	7.1%	6.1%	5.9%	4.2%	7.4%	8.0%	10.6%	9.6%	12.6%	16.4%	16.42%
Gross Margin	32.7%	31.7%	30.1%	30.4%	29.9%	30.7%	29.5%	31.6%	30.7%	30.1%	29.3%	31.5%	30.2%	31.9%	32.1%	32.9%	30.1%	29.0%	32.9%	35.5%	35.48%
Operating Margin	9.5%	8.7%	6.8%	9.6%	8.0%	9.0%	5.9%	6.5%	7.6%	9.3%	-0.3%	6.3%	7.6%	6.7%	6.8%	8.3%	9.6%	8.9%	13.2%	14.6%	14.55%
Net Margin	5.7%	7.8%	3.0%	7.5%	7.4%	2.9%	1.7%	2.9%	4.1%	4.5%	-3.5%	0.5%	3.2%	0.3%	2.7%	1.0%	6.0%	4.5%	7.3%	7.3%	7.34%
EBITDA Margin	13.5%	12.3%	9.5%	14.8%	16.0%	9.4%	7.5%	10.2%	11.5%	13.8%	1.0%	7.2%	10.4%	7.8%	10.3%	8.3%	14.8%	11.8%	17.2%	18.0%	18.00%
FCF Margin	2.1%	2.3%	2.5%	1.6%	0.1%	-0.6%	-3.7%	-6.2%	-5.9%	-3.9%	0.4%	3.8%	4.0%	4.6%	3.9%	1.4%	4.1%	3.2%	2.4%	3.2%	3.23%
OCF Margin	6.1%	5.8%	5.9%	5.0%	3.7%	3.4%	1.8%	-0.6%	-0.5%	1.4%	4.1%	7.6%	7.9%	8.6%	8.0%	5.0%	7.3%	6.2%	5.5%	6.4%	6.36%
ROE 3Y Avg	snapshot only																				15.00%
ROE 5Y Avg	snapshot only																				16.23%
ROA 3Y Avg	snapshot only																				3.42%
ROIC 3Y Avg	snapshot only																				5.50%
ROIC Economic	snapshot only																				12.15%
Cash ROA	snapshot only																				6.84%
Cash ROIC	snapshot only																				9.59%
CROIC	snapshot only																				4.87%
NOPAT Margin	snapshot only																				8.45%
Pretax Margin	snapshot only																				8.62%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				20.26%
SBC / Revenue	snapshot only																				0.08%

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	20.35	19.09	16.00	13.92	12.39	14.30	10.59	13.85	20.20	15.99	23.61	30.35	38.45	273.55	51.41	43.55	27.04	21.41	24.32	16.62	14.162
P/S Ratio	1.09	1.25	0.91	0.84	0.80	0.75	0.51	0.52	0.59	0.53	0.50	0.46	0.51	0.65	0.85	0.76	0.72	0.80	1.18	1.04	0.899
P/B Ratio	4.64	4.35	3.26	3.11	3.05	2.68	1.88	1.91	2.20	1.85	1.73	1.59	1.79	2.58	3.49	3.28	3.35	3.62	5.77	5.36	3.728
P/FCF	51.95	54.67	36.91	53.29	812.34	-130.32	-13.82	-8.31	-9.93	-13.54	119.05	12.13	12.54	14.26	22.00	54.88	17.53	24.70	48.10	32.36	32.357
P/OCF	17.78	21.49	15.43	17.00	21.98	22.21	28.75	—	—	39.16	12.18	6.05	6.37	7.55	10.65	15.15	9.85	12.90	21.48	16.44	16.439
EV/EBITDA	10.82	12.42	10.76	9.74	8.84	9.24	7.63	8.41	10.09	8.96	10.11	10.49	11.28	15.55	13.96	12.37	10.16	11.57	12.67	9.80	9.800
EV/Revenue	1.49	1.65	1.30	1.22	1.17	1.15	0.91	0.91	0.98	0.97	0.94	0.89	0.94	1.05	1.25	1.13	1.07	1.33	1.67	1.51	1.512
EV/EBIT	15.28	17.47	15.52	13.64	12.08	12.82	10.78	12.42	15.69	13.19	16.29	17.99	19.76	32.71	22.82	20.11	15.36	16.70	17.31	12.64	12.638
EV/FCF	70.94	72.24	52.73	77.25	1184.13	-200.61	-24.46	-14.59	-16.45	-24.68	223.27	23.71	23.17	23.12	32.10	81.69	25.90	41.07	68.07	46.83	46.832
Earnings Yield	4.9%	5.2%	6.2%	7.2%	8.1%	7.0%	9.4%	7.2%	5.0%	6.3%	4.2%	3.3%	2.6%	0.4%	1.9%	2.3%	3.7%	4.7%	4.1%	6.0%	6.02%
FCF Yield	1.9%	1.8%	2.7%	1.9%	0.1%	-0.8%	-7.2%	-12.0%	-10.1%	-7.4%	0.8%	8.2%	8.0%	7.0%	4.5%	1.8%	5.7%	4.0%	2.1%	3.1%	3.09%
PEG Ratio	snapshot only																				0.072
Price/Tangible Book	snapshot only																				8.072
EV/OCF	snapshot only																				23.793
EV/Gross Profit	snapshot only																				4.742
Acquirers Multiple	snapshot only																				13.063
Shareholder Yield	snapshot only																				1.27%
Graham Number	snapshot only																				$18.79

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	2.87	3.04	3.04	3.04	3.04	2.97	2.97	2.97	2.97	3.33	3.33	3.33	3.33	2.94	2.94	2.94	2.94	2.76	2.76	2.76	2.762
Quick Ratio	1.62	1.72	1.72	1.72	1.72	1.61	1.61	1.61	1.61	1.75	1.75	1.75	1.75	1.64	1.64	1.64	1.64	1.25	1.25	1.25	1.248
Debt/Equity	2.18	1.79	1.79	1.79	1.79	1.79	1.79	1.79	1.79	1.81	1.81	1.81	1.81	2.05	2.05	2.05	2.05	2.67	2.67	2.67	2.666
Net Debt/Equity	1.70	1.40	1.40	1.40	1.40	1.45	1.45	1.45	1.45	1.52	1.52	1.52	1.52	1.60	1.60	1.60	1.60	2.40	2.40	2.40	2.396
Debt/Assets	0.52	0.51	0.51	0.51	0.51	0.50	0.50	0.50	0.50	0.52	0.52	0.52	0.52	0.53	0.53	0.53	0.53	0.56	0.56	0.56	0.560
Debt/EBITDA	3.73	3.87	4.13	3.86	3.55	4.02	4.12	4.49	4.96	4.81	5.62	6.10	6.16	7.62	5.62	5.19	4.20	5.13	4.13	3.37	3.370
Net Debt/EBITDA	2.90	3.02	3.23	3.02	2.78	3.24	3.32	3.62	4.00	4.04	4.72	5.12	5.17	5.96	4.39	4.06	3.28	4.61	3.72	3.03	3.029
Interest Coverage	7.93	7.55	5.95	5.90	6.56	6.36	5.68	4.13	2.67	2.52	1.72	1.38	1.29	0.97	1.76	1.92	2.29	2.65	3.05	3.64	3.644
Equity Multiplier	4.17	3.53	3.53	3.53	3.53	3.55	3.55	3.55	3.55	3.44	3.44	3.44	3.44	3.83	3.83	3.83	3.83	4.76	4.76	4.76	4.764
Cash Ratio	snapshot only																				0.263
Debt Service Coverage	snapshot only																				4.699
Cash to Debt	snapshot only																				0.101
FCF to Debt	snapshot only																				0.062
Defensive Interval	snapshot only																				375.2 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	1.06	1.03	1.05	1.08	1.12	1.06	1.08	1.10	1.10	1.03	1.03	1.03	1.05	1.04	1.07	1.13	1.22	1.11	1.19	1.25	1.250
Inventory Turnover	2.72	2.72	2.81	2.93	3.05	2.76	2.82	2.84	2.85	2.53	2.53	2.55	2.60	2.59	2.64	2.77	2.99	2.52	2.71	2.81	2.808
Receivables Turnover	5.60	6.10	6.24	6.43	6.64	6.01	6.13	6.20	6.24	5.93	5.92	5.95	6.06	6.11	6.29	6.64	7.15	6.52	7.04	7.37	7.369
Payables Turnover	7.71	8.36	8.64	9.00	9.38	8.01	8.18	8.25	8.27	8.02	8.02	8.07	8.23	8.84	9.01	9.46	10.21	8.01	8.61	8.91	8.914
DSO	65	60	59	57	55	61	60	59	58	62	62	61	60	60	58	55	51	56	52	50	49.5 days
DIO	134	134	130	125	120	132	129	128	128	144	144	143	141	141	138	132	122	145	135	130	130.0 days
DPO	47	44	42	41	39	46	45	44	44	46	46	45	44	41	41	39	36	46	42	41	40.9 days
Cash Conversion Cycle	152	150	146	141	136	147	144	143	142	160	160	159	156	159	156	148	137	155	144	139	138.6 days
Fixed Asset Turnover	snapshot only																				3.698
Operating Cycle	snapshot only																				179.5 days
Cash Velocity	snapshot only																				19.008
Capital Intensity	snapshot only																				0.929

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	-2.4%	4.1%	5.8%	10.2%	13.6%	13.1%	12.6%	10.5%	7.8%	3.8%	1.7%	1.0%	2.2%	4.1%	7.2%	12.6%	19.1%	27.4%	33.7%	32.4%	32.39%
Net Income	16.9%	62.1%	12.2%	20.4%	37.1%	-9.6%	-4.4%	-32.0%	-51.4%	-33.7%	-55.4%	-59.2%	-54.0%	-92.6%	-16.1%	30.5%	1.4%	19.0%	2.9%	3.8%	3.77%
EPS	16.9%	62.1%	12.2%	20.4%	37.1%	-9.6%	-4.4%	-32.0%	-51.4%	-33.7%	-55.4%	-59.2%	-54.0%	-92.6%	-16.2%	29.9%	1.4%	18.9%	2.9%	3.7%	3.74%
FCF	-53.6%	-25.0%	-31.6%	-48.0%	-94.7%	-1.3%	-2.7%	-5.3%	-65.8%	-6.1%	1.1%	1.6%	1.7%	2.2%	8.9%	-58.6%	21.6%	-9.8%	-15.7%	2.1%	2.09%
EBITDA	16.9%	9.1%	-9.1%	-1.6%	8.9%	6.1%	10.5%	-5.1%	-21.1%	-9.5%	-20.5%	-20.1%	-12.6%	-35.0%	3.0%	21.0%	51.0%	1.2%	97.0%	1.2%	1.23%
Op. Income	16.9%	8.2%	-1.3%	1.6%	1.9%	5.5%	5.8%	-6.0%	-5.7%	-9.0%	-26.4%	-20.0%	-17.3%	-25.8%	24.9%	42.4%	62.2%	1.1%	96.1%	1.1%	1.08%
OCF Growth	snapshot only																				67.61%
Asset Growth	snapshot only																				38.56%
Equity Growth	snapshot only																				11.32%
Debt Growth	snapshot only																				44.93%
Shares Change	snapshot only																				0.59%
Dividend Growth	snapshot only																				0.08%

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	-0.2%	0.5%	1.0%	1.6%	2.8%	4.4%	5.5%	6.1%	6.1%	6.9%	6.6%	7.2%	7.8%	6.9%	7.1%	7.9%	9.5%	11.2%	13.4%	14.6%	14.63%
Revenue 5Y	1.3%	2.1%	2.5%	3.2%	3.6%	4.3%	4.5%	4.4%	4.0%	3.6%	3.4%	3.2%	3.6%	4.2%	5.1%	6.3%	7.8%	10.1%	11.7%	12.9%	12.91%
EPS 3Y	-9.7%	-5.7%	-9.3%	-10.0%	-4.7%	-3.5%	4.4%	-1.6%	-8.0%	-1.0%	-21.8%	-30.6%	-32.6%	-64.6%	-29.0%	-28.8%	-18.7%	-0.8%	13.1%	36.0%	35.95%
EPS 5Y	-10.2%	-8.3%	-8.9%	-2.4%	-2.0%	-5.5%	-7.5%	-10.2%	-13.3%	-12.9%	-20.5%	-27.3%	-28.0%	-46.4%	-15.7%	-12.8%	-2.9%	7.4%	9.2%	15.5%	15.53%
Net Income 3Y	-9.6%	-5.7%	-9.4%	-10.0%	-4.7%	-3.5%	4.4%	-1.6%	-8.0%	-0.9%	-21.8%	-30.6%	-32.6%	-64.6%	-29.0%	-28.7%	-18.5%	-0.6%	13.4%	36.5%	36.46%
Net Income 5Y	-10.0%	-8.0%	-8.6%	-2.1%	-1.8%	-5.3%	-7.4%	-10.2%	-13.2%	-12.9%	-20.5%	-27.3%	-28.0%	-46.4%	-15.7%	-12.7%	-2.8%	7.5%	9.4%	15.8%	15.79%
EBITDA 3Y	-3.7%	-5.3%	-7.2%	-4.8%	-1.1%	2.1%	6.2%	4.0%	0.2%	1.6%	-7.2%	-9.3%	-9.1%	-14.5%	-3.3%	-2.9%	1.4%	8.2%	17.3%	29.2%	29.22%
EBITDA 5Y	0.1%	-0.6%	-2.3%	-1.5%	0.2%	0.1%	-0.6%	-2.6%	-5.1%	-4.0%	-6.8%	-8.2%	-7.8%	-8.9%	-0.4%	1.7%	5.8%	8.0%	10.2%	15.0%	15.02%
Gross Profit 3Y	-0.0%	0.6%	0.3%	0.4%	1.2%	2.6%	4.1%	4.8%	4.7%	5.1%	4.1%	4.4%	4.9%	4.9%	6.5%	8.7%	10.9%	11.9%	14.7%	16.4%	16.41%
Gross Profit 5Y	1.5%	2.3%	2.3%	2.4%	2.5%	2.8%	2.9%	3.1%	2.7%	2.2%	2.0%	2.0%	2.5%	3.4%	5.1%	6.5%	7.6%	9.3%	10.6%	12.2%	12.21%
Op. Income 3Y	-8.5%	-8.9%	-9.4%	-9.0%	-8.2%	-1.7%	3.4%	3.6%	4.0%	1.3%	-8.4%	-8.6%	-7.4%	-10.7%	-0.9%	2.3%	8.1%	11.8%	21.7%	33.3%	33.28%
Op. Income 5Y	-3.1%	-2.7%	-2.9%	-2.3%	-4.5%	-4.2%	-4.5%	-6.4%	-5.9%	-6.2%	-10.4%	-10.7%	-9.6%	-8.5%	0.3%	4.8%	8.5%	9.8%	13.5%	17.7%	17.71%
FCF 3Y	-32.6%	-28.3%	-23.4%	-20.5%	-62.6%	—	—	—	—	—	-48.9%	11.4%	33.9%	34.7%	24.5%	3.3%	2.8%	—	—	—	—
FCF 5Y	—	85.4%	-4.8%	-22.6%	-60.1%	—	—	—	—	—	-38.5%	5.9%	18.7%	21.8%	30.4%	-9.4%	6.2%	10.6%	2.2%	12.1%	12.05%
OCF 3Y	-12.6%	-11.6%	-8.8%	-4.1%	-7.9%	-12.5%	-26.0%	—	—	-39.2%	-14.6%	7.7%	17.4%	21.9%	18.5%	8.4%	38.1%	36.3%	64.9%	—	—
OCF 5Y	8.6%	5.4%	-3.8%	-11.3%	-21.5%	-20.3%	-26.8%	—	—	-28.3%	-9.6%	8.4%	13.4%	13.2%	14.7%	-1.2%	4.4%	6.2%	3.5%	9.4%	9.39%
Assets 3Y	7.9%	7.8%	7.8%	7.8%	7.8%	8.6%	8.6%	8.6%	8.6%	7.4%	7.4%	7.4%	7.4%	5.3%	5.3%	5.3%	5.3%	13.5%	13.5%	13.5%	13.46%
Assets 5Y	9.7%	6.6%	6.6%	6.6%	6.6%	8.4%	8.4%	8.4%	8.4%	7.7%	7.7%	7.7%	7.7%	6.2%	6.2%	6.2%	6.2%	11.7%	11.7%	11.7%	11.66%
Equity 3Y	7.6%	8.8%	8.8%	8.8%	8.8%	6.7%	6.7%	6.7%	6.7%	14.5%	14.5%	14.5%	14.5%	2.5%	2.5%	2.5%	2.5%	2.9%	2.9%	2.9%	2.87%
Book Value 3Y	7.5%	8.8%	8.9%	8.9%	8.9%	6.7%	6.7%	6.7%	6.7%	14.5%	14.5%	14.5%	14.5%	2.5%	2.4%	2.3%	2.3%	2.7%	2.6%	2.5%	2.49%
Dividend 3Y	-0.1%	0.0%	0.1%	0.1%	0.1%	0.0%	0.0%	-0.0%	0.0%	-0.0%	0.0%	0.0%	-0.0%	-0.0%	-0.1%	-0.2%	-0.2%	-0.2%	-0.3%	-0.3%	-0.34%

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	0.45	0.61	0.70	0.58	0.60	0.71	0.76	0.72	0.67	0.70	0.72	0.68	0.74	0.87	0.93	0.93	0.88	0.83	0.79	0.82	0.819
Earnings Stability	0.68	0.65	0.74	0.25	0.21	0.36	0.51	0.45	0.36	0.43	0.56	0.63	0.57	0.52	0.54	0.52	0.26	0.08	0.00	0.05	0.049
Margin Stability	0.99	0.99	0.98	0.98	0.97	0.97	0.97	0.97	0.97	0.96	0.96	0.96	0.97	0.97	0.98	0.98	0.98	0.98	0.97	0.97	0.966
Rev. Growth Consistency	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	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.000
FCF Positive Streak	1	1	1	1	1	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1
Earnings Persistence	0.93	0.50	0.95	0.92	0.85	0.96	0.98	0.87	0.50	0.87	0.50	0.50	0.50	0.50	0.94	0.88	0.50	0.50	0.50	0.50	0.500
Earnings Smoothness	0.84	0.53	0.89	0.81	0.69	0.90	0.96	0.62	0.31	0.59	0.23	0.16	0.26	0.00	0.83	0.74	0.17	0.00	0.00	0.00	0.000
ROE Trend	-0.04	0.01	-0.01	0.02	0.05	-0.02	-0.04	-0.09	-0.13	-0.09	-0.12	-0.13	-0.13	-0.14	-0.06	-0.02	0.05	0.11	0.17	0.26	0.259
Gross Margin Trend	0.01	0.01	-0.00	-0.01	-0.02	-0.02	-0.02	-0.02	-0.01	-0.01	-0.01	-0.00	-0.00	0.00	0.01	0.01	0.01	0.00	0.00	0.01	0.008
FCF Margin Trend	-0.01	-0.00	-0.00	-0.02	-0.03	-0.03	-0.07	-0.09	-0.07	-0.05	0.01	0.06	0.07	0.07	0.06	0.03	0.05	0.03	0.00	0.01	0.007
Sustainable Growth Rate	11.6%	16.4%	13.7%	15.9%	18.5%	11.9%	10.8%	6.7%	3.7%	4.8%	0.5%	-1.7%	-2.3%	-6.3%	-0.8%	-0.0%	4.6%	10.6%	17.8%	26.8%	26.79%
Internal Growth Rate	3.2%	4.5%	3.7%	4.3%	5.1%	3.5%	3.1%	1.9%	1.0%	1.4%	0.1%	—	—	—	—	—	1.3%	2.5%	4.3%	6.6%	6.61%

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	1.14	0.89	1.04	0.82	0.56	0.64	0.37	-0.15	-0.19	0.41	1.94	5.02	6.03	36.26	4.83	2.87	2.75	1.66	1.13	1.01	1.011
FCF/OCF	0.34	0.39	0.42	0.32	0.03	-0.17	-2.08	11.02	10.86	-2.89	0.10	0.50	0.51	0.53	0.48	0.28	0.56	0.52	0.45	0.51	0.508
FCF/Net Income	snapshot only																				0.514
OCF/EBITDA	snapshot only																				0.412
CapEx/Revenue	4.0%	3.5%	3.4%	3.4%	3.6%	3.9%	5.5%	5.6%	5.4%	5.3%	3.7%	3.8%	3.9%	4.1%	4.1%	3.6%	3.2%	3.0%	3.0%	3.1%	3.13%
CapEx/Depreciation	snapshot only																				0.902
Accruals Ratio	-0.01	0.01	-0.00	0.01	0.03	0.02	0.03	0.05	0.04	0.02	-0.02	-0.06	-0.07	-0.09	-0.07	-0.04	-0.06	-0.03	-0.01	-0.00	-0.001
Sloan Accruals	snapshot only																				0.059
Cash Flow Adequacy	snapshot only																				1.427
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	2.2%	1.9%	2.5%	2.6%	2.7%	2.8%	3.9%	3.9%	3.4%	3.7%	4.0%	4.3%	3.8%	2.9%	2.2%	2.3%	2.3%	1.9%	1.2%	1.3%	1.44%
Dividend/Share	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48	$0.48
Payout Ratio	45.3%	35.7%	40.0%	36.5%	33.1%	39.5%	41.8%	53.6%	68.0%	59.6%	93.8%	1.3%	1.5%	8.0%	1.1%	1.0%	61.2%	40.3%	28.7%	21.1%	21.13%
FCF Payout Ratio	1.2%	1.0%	92.2%	1.4%	21.7%	—	—	—	—	—	4.7%	52.5%	48.2%	41.9%	47.8%	1.3%	39.6%	46.5%	56.7%	41.1%	41.14%
Total Payout Ratio	45.3%	35.7%	40.0%	36.5%	33.1%	39.5%	41.8%	53.6%	68.0%	59.6%	93.8%	1.3%	1.5%	8.0%	1.1%	1.0%	61.2%	40.3%	28.7%	21.1%	21.13%
Div. Increase Streak	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	0.02	0.02	0.03	0.03	0.03	0.03	0.04	0.04	0.03	0.04	0.04	0.04	0.04	0.03	0.02	0.02	0.02	0.02	0.01	0.01	0.014
Buyback Yield	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%
Net Buyback Yield	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%
Total Shareholder Return	2.2%	1.9%	2.5%	2.6%	2.7%	2.8%	3.9%	3.9%	3.4%	3.7%	4.0%	4.3%	3.8%	2.9%	2.2%	2.3%	2.3%	1.9%	1.2%	1.3%	1.27%

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)	0.64	0.82	0.82	0.79	0.77	0.68	0.68	0.64	0.64	0.60	0.57	0.53	0.51	0.22	0.54	0.57	0.63	0.71	0.72	0.73	0.730
Interest Burden (EBT/EBIT)	0.86	0.85	0.83	0.85	0.87	0.86	0.84	0.80	0.74	0.75	0.65	0.58	0.55	0.33	0.57	0.54	0.61	0.66	0.70	0.72	0.720
EBIT Margin	0.10	0.09	0.08	0.09	0.10	0.09	0.08	0.07	0.06	0.07	0.06	0.05	0.05	0.03	0.05	0.06	0.07	0.08	0.10	0.12	0.120
Asset Turnover	1.06	1.03	1.05	1.08	1.12	1.06	1.08	1.10	1.10	1.03	1.03	1.03	1.05	1.04	1.07	1.13	1.22	1.11	1.19	1.25	1.250
Equity Multiplier	3.74	3.81	3.81	3.81	3.81	3.54	3.54	3.54	3.54	3.49	3.49	3.49	3.49	3.62	3.62	3.62	3.62	4.32	4.32	4.32	4.320

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)	$1.06	$1.34	$1.20	$1.32	$1.45	$1.21	$1.15	$0.89	$0.71	$0.81	$0.51	$0.37	$0.32	$0.06	$0.43	$0.47	$0.78	$1.19	$1.66	$2.25	$2.25
Book Value/Share	$4.65	$5.89	$5.89	$5.89	$5.89	$6.48	$6.48	$6.48	$6.48	$6.98	$6.98	$6.97	$6.97	$6.33	$6.32	$6.30	$6.30	$7.02	$6.99	$6.98	$8.92
Tangible Book/Share	$1.59	$3.05	$3.05	$3.05	$3.05	$3.59	$3.59	$3.59	$3.59	$4.30	$4.30	$4.30	$4.30	$3.88	$3.87	$3.86	$3.86	$4.66	$4.64	$4.63	$4.63
Revenue/Share	$19.73	$20.58	$21.06	$21.71	$22.40	$23.27	$23.70	$24.00	$24.15	$24.14	$24.12	$24.24	$24.67	$25.11	$25.79	$27.17	$29.25	$31.85	$34.24	$35.75	$36.99
FCF/Share	$0.42	$0.47	$0.52	$0.34	$0.02	$-0.13	$-0.88	$-1.49	$-1.44	$-0.95	$0.10	$0.91	$1.00	$1.14	$1.00	$0.38	$1.21	$1.03	$0.84	$1.15	$0.31
OCF/Share	$1.21	$1.19	$1.25	$1.08	$0.82	$0.78	$0.42	$-0.14	$-0.13	$0.33	$0.99	$1.83	$1.96	$2.16	$2.07	$1.36	$2.14	$1.97	$1.88	$2.27	$1.63
Cash/Share	$2.26	$2.30	$2.30	$2.30	$2.30	$2.25	$2.25	$2.25	$2.25	$2.01	$2.01	$2.01	$2.01	$2.83	$2.82	$2.82	$2.82	$1.89	$1.88	$1.88	$1.91
EBITDA/Share	$2.72	$2.73	$2.55	$2.73	$2.97	$2.89	$2.82	$2.59	$2.34	$2.62	$2.24	$2.07	$2.04	$1.70	$2.30	$2.49	$3.07	$3.65	$4.51	$5.52	$5.52
Debt/Share	$10.14	$10.54	$10.53	$10.53	$10.53	$11.62	$11.62	$11.62	$11.62	$12.59	$12.59	$12.59	$12.59	$12.97	$12.95	$12.91	$12.91	$18.71	$18.63	$18.59	$18.59
Net Debt/Share	$7.89	$8.23	$8.23	$8.23	$8.23	$9.36	$9.36	$9.36	$9.36	$10.58	$10.58	$10.58	$10.58	$10.14	$10.12	$10.09	$10.09	$16.82	$16.75	$16.71	$16.71

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.091
Altman Z-Prime	snapshot only																				5.506
Piotroski F-Score	6	7	8	7	7	5	5	5	5	5	6	6	6	6	6	7	6	6	7	7	7
Beneish M-Score	-2.58	-2.31	-2.31	-2.24	-2.16	-2.23	-2.20	-2.20	-2.20	-2.41	-2.65	-2.80	-2.82	-2.96	-2.82	-2.65	-2.67	-2.18	-2.16	-2.20	-2.196
Ohlson O-Score	snapshot only																				-6.291
ROIC (Greenblatt)	snapshot only																				19.19%
Net-Net WC	snapshot only																				$-6.46
EVA	snapshot only																				$26668414.79

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	67.67	68.85	59.55	60.78	60.95	58.57	59.50	56.21	51.66	52.69	50.74	43.55	48.67	44.28	49.83	48.44	56.89	49.80	57.52	60.47	60.472
Credit Grade	snapshot only																				8
Credit Trend	snapshot only																				12.029
Implied Spread (bps)	snapshot only																				225.000
Industry Credit Rank	snapshot only																				51
Sector Credit Rank	snapshot only																				55

PAHC 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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