Also trades as: PMT (NYSE) · $vol 14M · PMT-PC (NYSE) · $vol 0M · PMTW (NYSE) · $vol 0M · PMT-PB (NYSE) · $vol 0M · PMTU (NYSE) · $vol 0M

$20.05

-0.03 (-0.15%)

Weekly Expected Move ±3.2%

$19 $19 $20 $21 $21

NYSE · Real Estate · REIT - Mortgage · Tech Score Sell · Power 31 · $886.2M mcap · 5M float · 0.179% daily turnover

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: none of note held by US funds details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.

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

Analyst Recommendations

Strong Buy: 0Buy: 5Hold: 8Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$—

Analysts0

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 27, 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. PMT-PA receives an overall rating of B. Strongest factors: ROE (4/5). Areas of concern: ROA (2/5), D/E (1/5).

Rating Change History

Date	From	To
2026-10-20	B-	B
2026-10-12	B+	B-
2026-10-01	B-	B+
2026-08-14	B	B-
2026-08-05	B-	B
2026-07-28	C-	B-
2026-05-05	B	C-
2026-04-01	B-	B
2026-03-30	C+	B-
2026-03-09	B-	C+

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.

★ ★ ★ ★ ★ 18 Grade D

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. PMT-PA scores highest in Value (83/100) and lowest in Earnings Quality (0/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

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

Altman Z-Score

-0.12

Distress Zone

Piotroski F-Score

4/9

✓ ✗ ✓ ✗ ✗ ✗ ✗ ✓ ✓

Beneish M-Score

81.33

Possible Manipulator

Ohlson O-Score

-2.86

Bankruptcy prob: 5.4%

Low Risk

Credit Rating

CCC

Score: 9.8/100

Trend: Deteriorating

Earnings Quality

25/100

OCF/NI: -60.58x

Accruals: 48.9%

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. PMT-PA scores -0.12, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. 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. PMT-PA scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. 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. PMT-PA's score of 81.33 exceeds the −1.78 red flag threshold — this does not confirm manipulation but indicates the earnings profile resembles past manipulators statistically. 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. PMT-PA's implied 5.4% 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. PMT-PA receives an estimated rating of CCC (score: 9.8/100), 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). PMT-PA's score of 25/100 is low — reported earnings may not be fully supported by cash flows.

Valuation

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

P/E

5.04x

PEG

0.05x

P/S

0.38x

P/B

0.34x

P/FCF

-0.19x

P/OCF

—

EV/EBITDA

18.54x

EV/Revenue

13.24x

EV/EBIT

18.54x

EV/FCF

-2.42x

Earnings Yield

8.66%

FCF Yield

-524.79%

Shareholder Yield

9.44%

Graham Number

$30.19

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 5.0x earnings, PMT-PA trades at a deep value multiple. An earnings yield of 8.7% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $30.19 per share, suggesting a potential 51% 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

1.311

NI / EBT

Interest Burden

0.096

EBT / EBIT

EBIT Margin

0.714

EBIT / Rev

Asset Turnover

0.088

Rev / Assets

Equity Multiplier

11.266

Assets / Equity

ROE

8.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. PMT-PA's ROE of 8.9% is driven by financial leverage (equity multiplier: 11.27x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 1.31 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

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

$73.41

Price/Value

0.30x

Margin of Safety

70.02%

Premium

-70.02%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with PMT-PA's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. PMT-PA actually compounded EPS at 17.8% 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. PMT-PA trades at a -70% premium to its adjusted intrinsic value of $73.41, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 5.0x.

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

$20.05

Median 1Y

$18.74

5th Pctile

$9.00

95th Pctile

$39.07

Ann. Volatility

45.2%

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
David A. Spector Chairman and Chief Executive Officer and Trustee	$—	$999,987	$999,987
Doug Jones Trustee, President and Chief Mortgage Banking Officer	$—	$599,990	$599,990
William Chang Managing enior Managing Director and Chief Investment Officer	$—	$499,986	$499,986
Daniel S. Perotti Senior Managing Director and Chief Financial Officer	$—	$499,986	$499,986
Derek W. Stark Senior Managing Director, Chief Legal Officer and Secretary	$—	$174,977	$174,977
James Follette Managing anaging Director and Chief Digital Officer	$—	$99,989	$99,989

CEO Pay Ratio

63:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $999,987

Avg Employee Cost (SGA/emp): $15,777

Employees: 4,900

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

4,900

+19.5% YoY

Revenue / Employee

$356,118

Rev: $1,744,979,000

Profit / Employee

$26,096

NI: $127,872,000

SGA / Employee

$15,777

Avg labor cost proxy

R&D / Employee

$423

Innovation spend

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	6.6%	2.4%	-1.5%	-6.5%	-4.2%	-3.4%	0.3%	5.1%	7.6%	10.2%	9.5%	9.7%	8.6%	8.3%	6.4%	5.5%	6.4%	6.7%	7.6%	8.9%	8.94%
ROA	1.3%	0.4%	-0.3%	-1.1%	-0.7%	-0.5%	0.0%	0.8%	1.1%	1.5%	1.3%	1.5%	1.3%	1.2%	0.9%	0.7%	0.8%	0.7%	0.8%	0.8%	0.79%
ROIC	0.6%	2.8%	3.8%	1.8%	-4.1%	-0.4%	0.1%	0.9%	0.4%	7.9%	2.4%	6.1%	15.6%	-2.3%	-0.8%	-1.9%	0.2%	5.4%	5.7%	7.9%	7.86%
ROCE	11.8%	0.0%	0.8%	1.7%	4.9%	7.4%	15.1%	11.9%	10.2%	4.5%	3.4%	0.0%	0.0%	1.0%	1.0%	2.2%	5.0%	6.8%	8.1%	7.9%	7.89%
Gross Margin	60.6%	29.5%	30.4%	-2.0%	79.5%	-23.9%	84.9%	86.9%	-10.5%	91.1%	73.6%	77.9%	85.5%	85.4%	83.7%	-63.1%	92.6%	91.5%	92.3%	93.1%	93.06%
Operating Margin	55.9%	-8.1%	2.7%	5.2%	93.3%	-53.6%	4.5%	84.0%	-15.0%	86.7%	63.0%	68.6%	81.3%	-1.9%	74.7%	-1.2%	80.0%	68.3%	81.5%	85.8%	85.76%
Net Margin	-18.7%	2.5%	-64.1%	-9.6%	11.7%	1.5%	1.3%	44.1%	24.5%	16.7%	46.5%	20.9%	15.6%	18.2%	5.1%	1.5%	11.9%	12.3%	5.5%	6.5%	6.49%
EBITDA Margin	0.0%	-8.1%	2.7%	10.6%	93.8%	31.7%	4.5%	84.0%	0.0%	0.0%	0.0%	0.0%	0.0%	58.1%	0.0%	43.3%	80.0%	68.3%	68.0%	68.7%	68.67%
FCF Margin	-4.4%	-5.3%	1.3%	7.8%	8.9%	12.6%	-7.7%	4.1%	12.0%	3.2%	4.7%	85.0%	-72.7%	-3.7%	-3.6%	-7.3%	-5.9%	-6.5%	-6.7%	-5.5%	-5.46%
OCF Margin	-4.4%	-5.3%	1.3%	7.8%	8.9%	12.6%	-7.7%	4.1%	12.0%	3.2%	4.8%	91.6%	-68.1%	-3.6%	-3.5%	-7.3%	-5.9%	-6.5%	-6.7%	-5.5%	-5.46%
ROE 3Y Avg	snapshot only																				8.09%
ROE 5Y Avg	snapshot only																				4.53%
ROA 3Y Avg	snapshot only																				0.95%
ROIC 3Y Avg	snapshot only																				3.78%
ROIC Economic	snapshot only																				7.74%
Cash ROA	snapshot only																				-40.14%
Cash ROIC	snapshot only																				-41.36%
CROIC	snapshot only																				-41.36%
NOPAT Margin	snapshot only																				1.04%
Pretax Margin	snapshot only																				6.88%
R&D / Revenue	snapshot only																				0.04%
SGA / Revenue	snapshot only																				2.81%
SBC / Revenue	snapshot only																				0.26%

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	11.49	31.85	-52.47	-10.26	-13.89	-20.68	326.17	15.98	13.24	11.25	11.91	10.10	11.58	11.55	16.36	18.63	17.20	16.33	13.73	11.54	5.042
P/S Ratio	2.93	3.42	2.79	6.58	9.97	10.68	13.33	7.81	18.32	5.30	4.65	3.48	2.40	2.49	2.42	2.73	2.23	1.88	1.43	1.04	0.385
P/B Ratio	0.73	0.76	0.80	0.71	0.65	0.77	1.08	0.84	1.03	1.15	1.13	0.98	1.00	0.96	1.06	1.05	1.12	1.11	1.05	1.04	0.342
P/FCF	-0.67	-0.64	2.23	0.85	1.13	0.85	-1.72	1.91	1.52	1.68	0.99	4.09	-3.30	-0.68	-0.68	-0.38	-0.38	-0.29	-0.21	-0.19	-0.191
P/OCF	—	—	2.23	0.85	1.13	0.85	—	1.91	1.52	1.68	0.98	3.80	—	—	—	—	—	—	—	—	—
EV/EBITDA	87.77	235.11	82.04	54.24	39.23	35.44	29.75	26.52	34.83	20.67	249.43	—	—	39.57	46.33	21.96	23.50	22.90	17.23	18.54	18.537
EV/Revenue	20.49	24.07	17.51	52.11	91.82	88.32	91.10	58.35	115.68	12.93	24.46	9.77	6.65	7.90	8.29	11.38	19.07	18.67	15.22	13.24	13.240
EV/EBIT	27.13	—	286.07	150.26	56.50	40.72	23.35	14.83	18.54	9.28	49.89	—	—	39.57	46.33	21.96	23.50	22.90	17.23	18.54	18.537
EV/FCF	-4.67	-4.52	13.99	6.72	10.36	7.02	-11.77	14.30	9.62	4.08	5.20	11.49	-9.14	-2.15	-2.33	-1.56	-3.24	-2.87	-2.28	-2.42	-2.424
Earnings Yield	8.7%	3.1%	-1.9%	-9.7%	-7.2%	-4.8%	0.3%	6.3%	7.6%	8.9%	8.4%	9.9%	8.6%	8.7%	6.1%	5.4%	5.8%	6.1%	7.3%	8.7%	8.66%
FCF Yield	-1.5%	-1.6%	44.8%	1.2%	88.9%	1.2%	-58.1%	52.2%	65.7%	59.7%	1.0%	24.4%	-30.3%	-1.5%	-1.5%	-2.7%	-2.6%	-3.5%	-4.7%	-5.2%	-5.25%
PEG Ratio	snapshot only																				0.050
EV/Gross Profit	snapshot only																				14.328
Acquirers Multiple	snapshot only																				16.723
Shareholder Yield	snapshot only																				9.44%
Graham Number	snapshot only																				$30.19

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	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	0.00	—	—	—	—	—	0.00	0.03	0.07	0.05	0.050
Quick Ratio	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	0.01	—	—	—	—	—	0.00	0.03	0.07	0.05	0.050
Debt/Equity	4.46	4.72	4.40	5.10	5.56	5.80	6.52	5.70	5.60	2.48	5.07	2.60	2.59	2.88	3.38	4.14	8.66	10.12	10.87	12.37	12.369
Net Debt/Equity	4.36	4.62	4.21	4.90	5.36	5.61	6.31	5.45	5.47	1.65	4.83	1.76	1.77	2.08	2.57	3.32	8.42	9.87	10.13	12.14	12.142
Debt/Assets	0.80	0.81	0.79	0.80	0.80	0.82	0.84	0.82	0.83	0.37	0.81	0.42	0.38	0.39	0.43	0.46	0.88	0.89	0.90	0.91	0.913
Debt/EBITDA	76.96	205.91	72.07	49.36	36.30	32.19	26.24	24.02	30.05	18.31	212.02	—	—	37.51	43.15	20.82	21.33	21.10	16.75	17.40	17.400
Net Debt/EBITDA	75.23	201.72	68.95	47.39	34.97	31.16	25.40	22.97	29.31	12.19	201.99	—	—	27.09	32.81	16.68	20.75	20.59	15.61	17.08	17.080
Interest Coverage	1.54	0.00	0.13	0.27	0.65	0.75	1.19	1.29	0.97	0.80	0.32	0.00	0.00	0.21	0.21	0.49	0.95	1.04	1.25	1.23	1.227
Equity Multiplier	5.59	5.82	5.58	6.38	6.91	7.09	7.79	6.93	6.78	6.70	6.28	6.23	6.74	7.43	7.82	9.01	9.86	11.31	12.06	13.54	13.542
Cash Ratio	snapshot only																				0.050
Debt Service Coverage	snapshot only																				1.227
Cash to Debt	snapshot only																				0.018
FCF to Debt	snapshot only																				-0.439
Defensive Interval	snapshot only																				25344.8 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	0.05	0.04	0.05	0.02	0.01	0.01	0.01	0.02	0.01	0.03	0.03	0.04	0.06	0.05	0.06	0.05	0.06	0.06	0.07	0.09	0.088
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover (trade)	32.34	7.17	45.32	19.53	1.01	3.42	15.56	5.24	0.73	7.13	20.14	8.73	14.90	14.72	14.31	12.67	14.87	32.36	17.75	0.29	0.295
Payables Turnover	—	6.63	—	—	—	—	—	—	2.74	0.37	1.16	1.40	1.02	0.46	0.89	0.68	0.70	0.65	0.74	0.80	0.805
DSO (trade)	11	51	8	19	361	107	23	70	499	51	18	42	24	25	26	29	25	11	21	1239	1239.1 days
DIO	0	0	0	0	0	0	0	0	0	0	-125	0	0	0	-86	0	0	0	0	0	0.0 days
DPO	0	55	0	0	0	0	0	0	133	986	314	261	359	788	408	535	519	559	495	454	453.7 days
Cash Conversion Cycle (trade)	11	-4	8	19	361	107	23	70	366	-935	-420	-219	-335	-763	-468	-506	-495	-548	-474	785	785.5 days
Cash Velocity	snapshot only																				4.381
Capital Intensity	snapshot only																				13.606

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	5.4%	3.9%	4.7%	-59.7%	-78.5%	-73.2%	-74.9%	-6.4%	-17.2%	2.0%	2.0%	1.6%	6.4%	76.3%	74.3%	31.7%	16.5%	48.7%	64.7%	1.6%	1.57%
Net Income	4.6%	8.6%	-1.0%	-1.5%	-1.6%	-2.3%	1.2%	1.7%	2.6%	3.7%	27.5%	83.9%	10.5%	-19.4%	-34.0%	-43.9%	-27.1%	-20.6%	16.1%	58.1%	58.12%
EPS	4.7%	11.1%	-1.0%	-1.5%	-1.7%	-2.4%	1.2%	1.8%	2.3%	3.2%	28.1%	84.8%	41.4%	3.1%	-15.7%	-44.0%	-27.2%	-20.8%	15.8%	57.8%	57.78%
FCF	-3239.2%	-5.2%	1.3%	1.4%	1.4%	1.6%	-2.6%	-50.7%	12.4%	-24.9%	2.8%	-45.7%	-1.4%	-3.0%	-2.3%	-12.3%	-8.4%	-1.6%	-2.1%	-93.1%	-93.06%
EBITDA	-84.8%	-94.2%	-84.1%	-34.1%	1.2%	5.5%	2.6%	1.1%	17.5%	-25.1%	-90.4%	-1.0%	-1.0%	-43.7%	2.2%	—	—	5.1%	7.1%	2.5%	2.55%
Op. Income	1.3%	2.0%	2.3%	4.5%	3.0%	-83.7%	-67.1%	-31.5%	-77.5%	9.5%	89.3%	99.9%	9.6%	-1.2%	-1.1%	-1.4%	-93.7%	7.7%	23.8%	11.8%	11.78%
OCF Growth	snapshot only																				-93.17%
Asset Growth	snapshot only																				49.36%
Equity Growth	snapshot only																				-0.68%
Debt Growth	snapshot only																				1.97%
Shares Change	snapshot only																				0.22%
Dividend Growth	snapshot only																				-0.19%

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	43.2%	41.0%	46.8%	4.8%	-11.2%	-13.9%	—	1.1%	4.4%	57.8%	-7.7%	-0.6%	9.5%	12.1%	9.4%	47.6%	92.3%	98.5%	1.0%	1.1%	1.07%
Revenue 5Y	—	—	83.6%	25.2%	4.9%	-2.2%	-1.5%	2.9%	-12.2%	17.5%	18.9%	23.0%	33.8%	27.4%	—	1.0%	57.8%	59.4%	17.7%	27.2%	27.24%
EPS 3Y	-9.8%	-35.5%	—	—	—	—	—	—	69.0%	50.1%	-38.8%	-10.2%	6.3%	46.5%	—	—	—	—	2.1%	17.8%	17.76%
EPS 5Y	—	—	—	—	—	—	-49.0%	-8.3%	-9.0%	-4.0%	-7.1%	-1.0%	-3.1%	-3.6%	—	—	37.8%	22.6%	-25.9%	-8.5%	-8.54%
Net Income 3Y	1.0%	-28.1%	—	—	—	—	—	—	75.3%	56.2%	-36.2%	-13.8%	2.2%	41.5%	—	—	—	—	1.8%	17.7%	17.73%
Net Income 5Y	—	—	—	—	—	—	-43.9%	-4.0%	-0.1%	5.5%	0.9%	0.2%	-4.4%	-6.6%	—	—	34.1%	19.5%	-27.6%	-10.7%	-10.66%
EBITDA 3Y	-24.6%	-40.2%	-21.9%	-10.9%	-2.7%	-10.2%	1.8%	-20.0%	-27.2%	-34.3%	-62.0%	—	—	40.1%	3.1%	20.2%	35.1%	36.8%	35.2%	42.1%	42.14%
EBITDA 5Y	—	—	17.8%	10.5%	9.7%	5.1%	11.2%	8.8%	1.7%	0.9%	-30.3%	—	—	-21.1%	-20.3%	-16.1%	-4.2%	-0.7%	7.2%	32.3%	32.32%
Gross Profit 3Y	34.0%	36.0%	1.1%	—	—	—	—	—	—	—	30.6%	72.4%	75.4%	97.3%	38.8%	—	—	9.5%	2.4%	1.6%	1.61%
Gross Profit 5Y	—	—	83.6%	—	—	—	16.3%	26.5%	—	61.6%	67.9%	1.3%	—	—	—	—	—	—	48.6%	82.4%	82.37%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	1.1%	—	—	—	-46.9%	1.6%	78.3%	96.4%	96.37%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	16.5%	—	25.9%	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	15.0%	43.2%	32.8%	51.6%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	16.5%	—	25.9%	—	—	—	—	—	—	—	—	—	—	—
OCF 5Y	—	—	15.0%	43.1%	32.8%	51.6%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	24.0%	20.8%	17.9%	11.8%	9.1%	5.8%	8.8%	13.8%	8.1%	4.4%	-0.6%	-3.9%	-2.0%	1.5%	6.3%	8.3%	9.9%	15.3%	13.6%	23.3%	23.31%
Assets 5Y	—	—	15.6%	17.1%	19.2%	20.0%	21.5%	14.9%	12.7%	10.9%	10.2%	5.0%	4.0%	4.1%	4.5%	13.1%	12.1%	13.1%	12.4%	13.0%	13.04%
Equity 3Y	16.7%	14.8%	8.8%	2.1%	-3.1%	-7.1%	2.6%	-4.8%	-5.1%	-5.2%	-6.0%	-6.1%	-7.9%	-6.4%	-5.0%	-3.4%	-2.3%	-1.3%	-1.8%	-1.4%	-1.37%
Book Value 3Y	4.2%	2.9%	0.1%	-1.7%	-2.3%	-2.9%	-1.5%	0.2%	-8.6%	-8.9%	-9.8%	-2.2%	-4.3%	-3.2%	-2.5%	-1.6%	-1.0%	-0.5%	7.2%	-1.3%	-1.35%
Dividend 3Y	-7.0%	-4.4%	-1.2%	-0.3%	3.6%	4.8%	-5.6%	1.7%	-8.2%	-9.1%	-8.0%	1.1%	2.3%	3.3%	2.6%	1.9%	1.4%	0.8%	9.2%	0.0%	0.03%

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	0.40	0.40	0.29	0.25	0.13	0.07	0.11	0.04	0.01	0.17	0.03	0.12	0.14	0.37	0.68	0.88	0.69	0.85	0.43	0.47	0.471
Earnings Stability	0.01	0.24	0.02	0.06	0.25	0.55	0.00	0.08	0.14	0.10	0.01	0.00	0.00	0.00	0.03	0.03	0.15	0.28	0.19	0.01	0.005
Margin Stability	0.00	0.00	0.59	0.00	0.00	0.00	0.45	0.00	0.00	0.00	0.29	0.00	0.00	0.00	0.45	0.00	0.00	0.00	0.45	0.49	0.492
Rev. Growth Consistency	0.50	0.50	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	0.50	0.50	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	0	1	1	1	0	1	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.97	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.86	0.82	0.89	0.92	0.94	0.50	0.500
Earnings Smoothness	0.00	0.92	—	—	—	—	—	—	—	—	0.00	0.41	0.90	0.79	0.59	0.44	0.69	0.77	0.85	0.55	0.550
ROE Trend	0.01	-0.03	-0.05	-0.13	-0.08	-0.06	-0.14	0.02	0.07	0.11	0.10	0.10	0.07	0.05	0.02	-0.02	-0.02	-0.02	-0.00	0.01	0.013
Gross Margin Trend	1.41	1.55	—	6.11	0.14	1.21	-0.14	0.57	0.25	0.75	0.50	0.76	1.36	0.41	0.33	0.21	0.51	0.07	0.09	0.11	0.107
FCF Margin Trend	1.20	-1.72	—	-0.15	11.06	12.12	-5.98	4.55	9.79	-0.46	7.95	-5.07	-11.17	-11.54	-2.04	-9.75	-11.53	-6.25	-7.24	-2.24	-2.244
Sustainable Growth Rate	-1.9%	-6.7%	—	—	—	—	-9.5%	-4.8%	-1.9%	0.9%	0.3%	0.3%	-0.7%	-1.0%	-3.0%	-4.0%	-3.1%	-2.8%	-2.0%	-0.8%	-0.80%
Internal Growth Rate	—	—	—	—	—	—	—	—	—	0.1%	0.0%	0.0%	—	—	—	—	—	—	—	—	—

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	-17.21	-49.60	-23.51	-12.10	-12.34	-24.35	-189.44	8.35	8.69	6.71	12.19	2.66	-3.28	-16.79	-24.01	-49.59	-45.29	-56.41	-64.06	-60.58	-60.575
FCF/OCF	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.99	0.93	1.07	1.01	1.00	1.00	1.00	1.00	1.00	1.00	1.000
FCF/Net Income	snapshot only																				-60.575
OCF/EBITDA	snapshot only																				-7.646
CapEx/Revenue	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	5.5%	4.9%	3.5%	3.9%	0.3%	0.4%	0.1%	0.0%	0.0%	0.0%	0.00%
Accruals Ratio	0.23	0.23	-0.07	-0.14	-0.09	-0.13	0.09	-0.06	-0.09	-0.08	-0.15	-0.02	0.05	0.21	0.23	0.37	0.36	0.41	0.50	0.49	0.489
Sloan Accruals	snapshot only																				-0.381
Cash Flow Adequacy	snapshot only																				-55.573
Earnings Quality Score	snapshot only																				0.250

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	11.3%	11.8%	12.2%	14.9%	16.7%	14.2%	9.7%	12.2%	9.5%	8.1%	8.2%	9.6%	9.3%	9.7%	9.0%	9.3%	8.6%	8.7%	9.2%	9.4%	22.04%
Dividend/Share	$2.08	$2.22	$2.31	$2.38	$2.43	$2.42	$1.82	$2.27	$1.71	$1.64	$1.64	$2.08	$2.08	$2.09	$2.09	$2.08	$2.08	$2.08	$2.08	$2.08	$1.60
Payout Ratio	1.3%	3.8%	—	—	—	—	31.5%	1.9%	1.3%	91.4%	97.3%	96.6%	1.1%	1.1%	1.5%	1.7%	1.5%	1.4%	1.3%	1.1%	1.09%
FCF Payout Ratio	—	—	27.2%	12.7%	18.8%	12.1%	—	23.3%	14.4%	13.6%	8.1%	39.2%	—	—	—	—	—	—	—	—	—
Total Payout Ratio	1.5%	4.8%	—	—	—	—	41.3%	2.5%	1.5%	1.1%	1.1%	98.4%	1.1%	1.1%	1.5%	1.7%	1.5%	1.4%	1.3%	1.1%	1.09%
Div. Increase Streak	1	1	0	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Chowder Number	0.24	0.33	0.36	0.26	0.25	0.15	0.05	0.03	-0.04	-0.07	-0.04	0.01	0.05	0.09	0.09	0.09	0.09	0.09	0.09	0.09	0.095
Buyback Yield	1.9%	3.2%	5.0%	8.0%	8.6%	5.8%	3.0%	3.4%	2.1%	1.3%	1.0%	0.2%	0.1%	0.0%	0.0%	0.0%	0.1%	0.1%	0.0%	0.0%	0.00%
Net Buyback Yield	1.9%	3.2%	5.0%	8.0%	8.6%	5.8%	3.0%	3.4%	2.1%	1.3%	1.0%	0.2%	0.1%	-0.1%	-0.0%	-0.0%	-0.0%	0.1%	0.0%	0.0%	0.00%
Total Shareholder Return	13.2%	15.0%	17.2%	22.9%	25.3%	20.0%	12.7%	15.5%	11.5%	9.4%	9.2%	9.7%	9.4%	9.7%	9.0%	9.2%	8.6%	8.7%	9.2%	9.4%	9.44%

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)	1.13	1.27	1.20	1.74	-1.93	-1.16	0.08	0.60	0.76	0.82	0.78	0.85	1.31	1.13	1.18	1.14	1.08	1.36	1.12	1.31	1.311
Interest Burden (EBT/EBIT)	0.30	—	-0.73	-1.06	0.23	0.20	0.13	0.21	0.29	0.41	1.02	—	—	0.96	0.70	0.25	0.15	0.10	0.10	0.10	0.096
EBIT Margin	0.76	0.00	0.06	0.35	1.62	2.17	3.90	3.93	6.24	1.39	0.49	0.00	0.00	0.20	0.18	0.52	0.81	0.82	0.88	0.71	0.714
Asset Turnover	0.05	0.04	0.05	0.02	0.01	0.01	0.01	0.02	0.01	0.03	0.03	0.04	0.06	0.05	0.06	0.05	0.06	0.06	0.07	0.09	0.088
Equity Multiplier	5.11	5.42	5.44	6.08	6.19	6.40	6.62	6.65	6.85	6.90	7.04	6.58	6.76	7.07	7.04	7.59	8.28	9.35	9.92	11.27	11.266

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)	$1.61	$0.59	$-0.36	$-1.55	$-1.05	$-0.82	$0.06	$1.17	$1.36	$1.80	$1.68	$2.16	$1.93	$1.85	$1.42	$1.21	$1.40	$1.47	$1.64	$1.91	$1.91
Book Value/Share	$25.43	$24.58	$23.60	$22.52	$22.27	$22.03	$17.38	$22.13	$17.55	$17.63	$17.65	$22.34	$22.30	$22.33	$21.89	$21.44	$21.60	$21.69	$21.43	$21.25	$21.66
Tangible Book/Share	$-3.55	$-5.45	$-12.42	$-17.67	$-21.23	$-23.01	$-17.68	$-23.45	$-19.44	$-17.68	$-17.95	$-23.05	$-21.55	$-22.22	$-21.49	$-21.53	$-20.56	$-20.20	$-20.18	$-19.76	$-19.76
Revenue/Share	$6.31	$5.50	$6.76	$2.42	$1.46	$1.59	$1.41	$2.39	$0.98	$3.81	$4.30	$6.26	$9.29	$8.60	$9.58	$8.23	$10.80	$12.75	$15.75	$21.15	$18.87
FCF/Share	$-27.65	$-29.28	$8.46	$18.77	$12.92	$20.03	$-10.93	$9.75	$11.85	$12.08	$20.24	$5.32	$-6.76	$-31.58	$-34.14	$-59.96	$-63.54	$-82.89	$-105.05	$-115.51	$-115.51
OCF/Share	$-27.65	$-29.28	$8.46	$18.77	$12.92	$20.03	$-10.93	$9.75	$11.85	$12.08	$20.48	$5.73	$-6.32	$-31.13	$-34.00	$-59.92	$-63.53	$-82.89	$-105.05	$-115.51	$-115.51
Cash/Share	$2.54	$2.36	$4.51	$4.58	$4.54	$4.09	$3.62	$5.51	$2.40	$14.59	$4.23	$18.77	$18.22	$17.87	$17.72	$17.66	$5.11	$5.31	$15.75	$4.83	$4.83
EBITDA/Share	$1.47	$0.56	$1.44	$2.33	$3.41	$3.97	$4.32	$5.26	$3.27	$2.39	$0.42	$0.00	$0.00	$1.72	$1.71	$4.27	$8.77	$10.40	$13.91	$15.11	$15.11
Debt/Share	$113.29	$115.95	$103.96	$114.84	$123.91	$127.75	$113.37	$126.24	$98.28	$43.68	$89.48	$58.14	$57.66	$64.36	$73.97	$88.79	$187.01	$219.43	$232.94	$262.84	$262.84
Net Debt/Share	$110.75	$113.59	$99.45	$110.26	$119.38	$123.66	$109.75	$120.73	$95.89	$29.09	$85.25	$39.37	$39.44	$46.49	$56.25	$71.14	$181.90	$214.12	$217.20	$258.02	$258.02

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-0.119
Altman Z-Prime	snapshot only																				-1.725
Piotroski F-Score	5	3	4	4	4	3	3	6	4	7	7	7	6	3	5	2	2	3	3	4	4
Beneish M-Score	-2.18	—	—	3.28	17.75	—	-2.70	3.21	-42.48	72.02	-2.66	-2.57	83.82	-0.93	-0.96	28.11	-0.26	-3.33	0.34	81.33	81.328
Ohlson O-Score	snapshot only																				-2.865
Net-Net WC	snapshot only																				$-261.28
EVA	snapshot only																				$-521789519.95

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																				CCC
Credit Score	13.30	5.80	10.70	11.80	11.20	12.80	9.80	13.20	12.20	26.00	13.70	23.90	21.50	20.00	18.50	18.50	11.80	9.80	9.80	9.80	9.800
Credit Grade	snapshot only																				17
Credit Trend	snapshot only																				-8.700
Implied Spread (bps)	snapshot only																				1200.000

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