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Not Investment Advice

SPH NYSE

Suburban Propane Partners, L.P.
1W: +4.4% 1M: +8.0% 3M: -2.5% YTD: -2.4% 1Y: -3.9% 3Y: +27.6% 5Y: +54.2%
$18.01
+0.04 (+0.22%)
After Hours: $18.03 (+0.02, +0.11%)
Weekly Expected Move ±2.6%
$17 $17 $18 $18 $19
NYSE · Energy · Oil & Gas Energy · Tech Score Buy · Power 61 · $1.2B mcap · 64M float · 0.332% daily turnover · Short 40% of daily vol
Credit Risk of going bust: lower than 71% of companies Debt: 52.7% of company value Bonds: $96.9M held by 144 funds, 215 bp over Treasuries → details ▾
Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $0.73 (down 96%), Suburban Propane Partners, L.P. would be worth roughly what it owes.
Total debt $1.33B against a stock market value of $1.19B.
Distance to default 7.74 (Merton model): prices to 2026-10-26, balance sheet 2026-06-27, debt counted $612.0M (short-term plus half of long-term), stock volatility 21.2%; Altman Z'' 0.90. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

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.

NO EDGE
32.0 / 100
NoneWeakNarrowWide
Primary source: Efficient Scale  ·  ROIC: 10.3%  ·  5Y Avg: 7.0%
Cost Advantage
30
Intangibles
14
Switching Cost
12
Network Effect
45
Scale ★
85
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. SPH has No discernible competitive edge (32.0/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. ROIC of 10.3% 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
Analyst Recommendations
Strong Buy: 0Buy: 4Hold: 7Sell: 5Strong Sell: 0
Rating Summary
ConsensusHold
Avg Target$—
Analysts0
Price Target Change History
DateFirmAnalystOldNewChangeUpside @ CallStock@Call
2024-08-30 Wells Fargo Ned Baramov $17 $17 0 -3.8% $17.67
2024-06-10 Argus Research David Coleman Initiated $25 — +16.9% $21.39
2022-11-17 Wells Fargo — Initiated $17 — +8.4% $15.68

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 27, 2026
DCF
4
ROE
5
ROA
4
D/E
1
P/E
3
P/B
3
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. SPH receives an overall rating of A-. Strongest factors: DCF (4/5), ROE (5/5), ROA (4/5). Areas of concern: D/E (1/5).
Rating Change History
DateFromTo
2026-10-23 A A-
2026-10-22 A- A
2026-10-19 A A-
2026-10-15 A- A
2026-10-13 A A-
2026-10-01 B+ A
2026-09-02 A- B+
2026-08-24 A A-
2026-08-21 A+ A
2026-08-11 S- A+

InsiderStreet Scorecard

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

★ ★ ★ ★ ★ 46 Grade C
Profitability
40
Balance Sheet
23
Earnings Quality
84
Growth
55
Value
77
Momentum
84
Safety
30
Cash Flow
56
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. SPH scores highest in Earnings Quality (84/100) and lowest in Balance Sheet (23/100). 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
1.28
Distress Zone
Piotroski F-Score
6/9
✓ ✓ ✓ ✓ ✓ ✓ ✗ ✗ ✗
Beneish M-Score
-2.64
Unlikely Manipulator
Ohlson O-Score
-6.26
Bankruptcy prob: 0.2%
Low Risk
Credit Rating
B
Score: 27.2/100
Trend: Improving
Earnings Quality
75/100
OCF/NI: 1.91x
Accruals: -5.1%
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. SPH scores 1.28, 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. SPH scores 6/9, 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. SPH's score of -2.64 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. SPH'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. SPH receives an estimated rating of B (score: 27.2/100), 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). SPH's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

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

P/E
9.15x
PEG
0.28x
P/S
0.86x
P/B
1.68x
P/FCF
9.23x
P/OCF
4.63x
EV/EBITDA
8.99x
EV/Revenue
1.78x
EV/EBIT
11.96x
EV/FCF
19.78x
Earnings Yield
11.30%
FCF Yield
10.84%
Shareholder Yield
11.13%
Graham Number
$21.77
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 9.1x earnings, SPH 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 $21.77 per share, suggesting a potential 21% 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
0.992
NI / EBT
×
Interest Burden
0.636
EBT / EBIT
×
EBIT Margin
0.149
EBIT / Rev
×
Asset Turnover
0.597
Rev / Assets
×
Equity Multiplier
3.437
Assets / Equity
=
ROE
19.2%
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. SPH's ROE of 19.2% is driven by financial leverage (equity multiplier: 3.44x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 0.99 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
11.56%
Fair P/E
31.62x
Intrinsic Value
$62.12
Price/Value
0.28x
Margin of Safety
72.01%
Premium
-72.01%
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 SPH's realized 11.6% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. SPH trades at a -72% premium to its adjusted intrinsic value of $62.12, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 31.6x compares to the current market P/E of 9.1x.

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
$18.01
Median 1Y
$17.75
5th Pctile
$10.86
95th Pctile
$29.00
Ann. Volatility
32.1%
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

ExecutiveSalaryStockTotal
Michael A. Stivala
President and Chief Executive Officer
$820,000 $1,731,829 $3,968,504
Steven C. Boyd
Chief Operating Officer
$460,000 $1,058,791 $2,128,222
Michael A. Kuglin
Chief Financial Officer
$450,000 $1,051,371 $2,106,918
Douglas T. Brinkworth
Senior Vice President - Product Supply, Purchasing and Logistics
$400,000 $1,014,285 $1,972,795
Neil E. Scanlon
Senior Vice President - Information Services
$350,000 $887,503 $1,736,230

CEO Pay Ratio

131:1
CEO-to-Employee Pay Ratio
CEO Total Comp: $3,968,504
Avg Employee Cost (SGA/emp): $30,213
Employees: 3,190

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
3,190
+3.0% YoY
Revenue / Employee
$449,065
Rev: $1,432,518,000
Profit / Employee
$33,408
NI: $106,570,000
SGA / Employee
$30,213
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 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 Q3'26 Current
ROE 31.2% 26.2% 28.5% 34.8% 30.3% 34.5% 15.6% 15.7% 23.7% 19.2% 17.6% 16.4% 13.6% 12.6% 14.4% 15.5% 18.6% 22.7% 18.8% 19.2% 19.23%
ROA 6.0% 5.0% 7.1% 8.5% 6.7% 7.7% 4.1% 4.1% 5.7% 4.6% 4.7% 4.3% 3.3% 2.9% 4.0% 4.2% 4.7% 5.6% 5.5% 5.6% 5.59%
ROIC 12.7% 11.2% 12.9% 13.7% 12.1% 13.1% 8.3% 8.5% 11.0% 9.9% 10.2% 10.1% 9.0% 9.0% 9.6% 10.0% 10.6% 9.9% 10.1% 10.3% 10.30%
ROCE 10.9% 9.4% 11.2% 12.7% 11.2% 12.2% 7.7% 8.0% 10.1% 8.9% 9.0% 8.6% 7.6% 7.1% 8.0% 8.5% 9.2% 9.9% 9.6% 9.8% 9.83%
Gross Margin 67.6% 47.7% 59.4% 53.1% 42.8% 54.0% 56.0% 60.4% 71.1% 58.2% 61.8% 62.9% 59.4% 60.6% 58.8% 61.7% 2.0% 25.5% 34.3% 61.3% 61.34%
Operating Margin 0.2% 9.9% 32.6% 4.9% -15.8% 15.7% 23.9% 5.3% 1.8% 13.3% 27.5% 3.2% -10.8% 15.8% 27.0% 2.1% -7.9% 18.0% 28.9% 0.9% 0.85%
Net Margin -7.9% 5.7% 29.8% -0.8% -22.8% 11.4% 19.8% -1.9% -9.2% 6.7% 22.4% -6.8% -21.4% 5.2% 23.3% -5.7% -16.6% 12.4% 25.0% -6.7% -6.71%
EBITDA Margin 10.0% 14.0% 34.8% 8.9% -10.2% 18.9% 26.7% 10.5% 6.8% 16.2% 29.7% 7.0% -4.2% 15.2% 29.8% 8.8% 0.6% 22.3% 31.5% 7.0% 6.95%
FCF Margin 15.3% 12.8% 12.9% 11.9% 11.7% 12.8% 12.6% 12.0% 12.6% 11.5% 9.9% 9.6% 7.6% 8.2% 4.9% 7.3% 8.0% 4.3% 9.5% 9.0% 8.99%
OCF Margin 17.6% 15.4% 15.6% 14.7% 14.7% 15.8% 15.8% 15.1% 15.8% 14.8% 13.3% 13.5% 12.1% 13.6% 10.3% 12.7% 13.0% 9.1% 14.8% 17.9% 17.93%
ROE 3Y Avg snapshot only 16.49%
ROE 5Y Avg snapshot only 19.26%
ROA 3Y Avg snapshot only 4.68%
ROIC 3Y Avg snapshot only 6.78%
ROIC Economic snapshot only 10.30%
Cash ROA snapshot only 10.61%
Cash ROIC snapshot only 12.28%
CROIC snapshot only 6.16%
NOPAT Margin snapshot only 15.04%
Pretax Margin snapshot only 9.45%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 6.83%
SBC / Revenue snapshot only 0.71%
Valuation
Metric Trend 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 Q3'26 Current
P/E Ratio 5.70 6.28 5.11 4.23 5.37 4.79 8.41 8.78 7.10 9.71 10.69 11.27 14.41 15.15 13.91 12.10 11.26 9.41 10.22 8.85 9.147
P/S Ratio 0.54 0.49 0.56 0.51 0.50 0.51 0.54 0.55 0.61 0.71 0.86 0.82 0.81 0.79 0.93 0.82 0.84 0.87 0.98 0.83 0.857
P/B Ratio 1.65 1.56 1.35 1.33 1.51 1.50 1.29 1.36 1.61 1.81 1.83 1.82 1.95 1.92 1.96 1.82 2.00 2.00 1.83 1.62 1.681
P/FCF 3.56 3.82 4.32 4.27 4.26 4.01 4.25 4.61 4.87 6.20 8.66 8.50 10.56 9.52 18.78 11.26 10.50 20.20 10.28 9.23 9.226
P/OCF 3.09 3.19 3.57 3.46 3.40 3.27 3.40 3.66 3.90 4.84 6.45 6.07 6.65 5.75 8.96 6.48 6.44 9.63 6.62 4.63 4.626
EV/EBITDA 6.55 7.43 6.89 6.43 7.55 7.16 9.86 9.66 8.47 9.70 10.04 10.16 11.16 11.61 11.34 10.23 9.86 9.79 9.71 8.99 8.994
EV/Revenue 1.51 1.45 1.45 1.33 1.31 1.33 1.47 1.48 1.54 1.70 1.85 1.82 1.82 1.86 1.92 1.76 1.76 1.93 1.96 1.78 1.778
EV/EBIT 10.11 11.45 9.42 8.21 9.76 8.95 13.45 13.25 11.15 13.23 13.58 14.05 16.15 16.99 15.84 14.37 13.71 13.13 12.97 11.96 11.963
EV/FCF 9.87 11.28 11.19 11.16 11.12 10.33 11.67 12.37 12.23 14.75 18.66 18.85 23.87 22.58 38.91 24.14 22.10 44.62 20.54 19.78 19.777
Earnings Yield 17.5% 15.9% 19.6% 23.7% 18.6% 20.9% 11.9% 11.4% 14.1% 10.3% 9.4% 8.9% 6.9% 6.6% 7.2% 8.3% 8.9% 10.6% 9.8% 11.3% 11.30%
FCF Yield 28.1% 26.2% 23.2% 23.4% 23.5% 24.9% 23.5% 21.7% 20.5% 16.1% 11.5% 11.8% 9.5% 10.5% 5.3% 8.9% 9.5% 4.9% 9.7% 10.8% 10.84%
PEG Ratio snapshot only 0.284
EV/OCF snapshot only 9.916
EV/Gross Profit snapshot only 5.530
Acquirers Multiple snapshot only 11.724
Shareholder Yield snapshot only 11.13%
Graham Number snapshot only $21.77
Leverage & Solvency
Metric Trend 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 Q3'26 Current
Current Ratio 0.63 0.80 1.11 0.89 0.57 0.80 0.90 0.68 0.53 0.72 0.88 0.65 0.51 0.70 1.06 0.70 0.55 0.87 1.08 0.78 0.783
Quick Ratio 0.41 0.55 0.84 0.61 0.35 0.58 0.66 0.47 0.33 0.52 0.65 0.45 0.33 0.51 0.81 0.46 0.31 0.61 0.82 0.52 0.517
Debt/Equity 2.93 3.05 2.15 2.15 2.44 2.38 2.26 2.31 2.43 2.51 2.12 2.22 2.47 2.64 2.12 2.09 2.22 2.42 1.83 1.86 1.862
Net Debt/Equity 2.92 3.04 2.14 2.14 2.43 2.37 2.25 2.29 2.43 2.50 2.11 2.21 2.46 2.63 2.10 2.08 2.22 2.41 1.83 1.86 1.855
Debt/Assets 0.61 0.62 0.57 0.57 0.58 0.57 0.58 0.59 0.59 0.60 0.58 0.59 0.59 0.60 0.59 0.58 0.58 0.63 0.56 0.56 0.564
Debt/EBITDA 4.21 4.93 4.25 3.99 4.67 4.40 6.30 6.11 5.11 5.65 5.39 5.60 6.24 6.74 5.90 5.48 5.19 5.37 4.87 4.82 4.817
Net Debt/EBITDA 4.19 4.91 4.23 3.97 4.66 4.38 6.26 6.06 5.10 5.62 5.38 5.58 6.22 6.72 5.87 5.46 5.18 5.36 4.85 4.80 4.799
Interest Coverage 2.82 2.63 3.47 3.93 3.31 3.68 2.42 2.31 2.70 2.37 2.46 2.31 2.00 1.92 2.25 2.27 2.42 2.75 2.78 2.74 2.745
Equity Multiplier 4.82 4.91 3.76 3.74 4.23 4.15 3.87 3.90 4.16 4.22 3.64 3.76 4.15 4.37 3.57 3.58 3.84 3.83 3.26 3.30 3.304
Cash Ratio snapshot only 0.020
Debt Service Coverage snapshot only 3.651
Cash to Debt snapshot only 0.004
FCF to Debt snapshot only 0.094
Defensive Interval snapshot only 138.3 days
Efficiency & Turnover
Metric Trend 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 Q3'26 Current
Asset Turnover 0.63 0.65 0.65 0.71 0.72 0.71 0.64 0.66 0.65 0.62 0.58 0.59 0.58 0.57 0.60 0.62 0.63 0.60 0.58 0.60 0.597
Inventory Turnover 8.93 9.25 9.04 10.98 11.06 9.99 9.96 10.75 9.17 8.48 8.36 9.33 8.91 8.50 9.78 10.27 10.78 12.71 15.51 14.97 14.975
Receivables Turnover 20.33 11.82 9.16 17.31 20.03 11.86 9.68 16.61 19.55 11.06 10.43 17.71 19.79 10.95 10.42 18.60 21.08 11.24 9.33 16.94 16.935
Payables Turnover 13.65 9.49 8.79 18.33 19.16 9.43 9.86 18.32 15.69 7.27 8.53 15.70 12.88 6.52 12.40 21.52 16.18 12.30 22.44 29.55 29.552
DSO 18 31 40 21 18 31 38 22 19 33 35 21 18 33 35 20 17 32 39 22 21.6 days
DIO 41 39 40 33 33 37 37 34 40 43 44 39 41 43 37 36 34 29 24 24 24.4 days
DPO 27 38 42 20 19 39 37 20 23 50 43 23 28 56 29 17 23 30 16 12 12.4 days
Cash Conversion Cycle 32 32 39 34 32 29 37 36 35 26 36 36 31 20 43 38 29 32 46 34 33.6 days
Fixed Asset Turnover snapshot only 1.686
Operating Cycle snapshot only 45.9 days
Cash Velocity snapshot only 276.986
Capital Intensity snapshot only 1.690
Growth (YoY)
Metric Trend 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 Q3'26 Current
Revenue 16.3% 25.9% 16.0% 18.1% 16.5% 12.1% 3.7% -2.2% -4.8% -8.3% -6.3% -6.6% -7.1% -4.5% 4.0% 6.3% 7.9% 7.1% -2.2% -2.5% -2.48%
Net Income 1.0% 81.2% 42.0% 81.1% 13.8% 54.4% -39.5% -49.0% -11.4% -37.2% 17.9% 8.2% -40.1% -32.8% -13.7% -0.8% 43.7% 92.3% 40.7% 34.5% 34.54%
EPS 1.0% 79.5% 40.5% 79.6% 12.9% 52.9% -40.0% -49.5% -12.3% -37.7% 17.1% 7.5% -40.9% -33.1% -14.3% -2.3% 41.4% 87.3% 37.3% 32.3% 32.26%
FCF 11.2% 0.9% -5.8% -9.1% -10.4% 12.3% 1.1% -1.8% 2.3% -17.8% -26.4% -24.7% -43.9% -31.6% -48.2% -19.6% 13.0% -43.8% 88.9% 20.2% 20.17%
EBITDA 17.6% 6.3% 0.2% 8.2% -12.5% 6.8% -26.3% -27.6% 0.3% -13.4% 15.5% 9.1% -16.9% -12.5% -4.4% 2.3% 18.4% 31.9% 16.4% 12.0% 11.98%
Op. Income 52.0% 39.6% 26.6% 28.1% -3.2% 20.0% -30.5% -32.4% 0.3% -16.5% 23.8% 19.7% -17.2% -6.1% -0.7% 1.4% 20.5% 17.8% 5.8% 5.5% 5.46%
OCF Growth snapshot only 37.97%
Asset Growth snapshot only 1.79%
Equity Growth snapshot only 10.36%
Debt Growth snapshot only -1.51%
Shares Change snapshot only 1.72%
Dividend Growth snapshot only 51.45%
Growth (CAGR)
Metric Trend 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 Q3'26 Current
Revenue 3Y -1.4% 0.3% 14.5% 17.3% 19.0% 21.6% 9.2% 8.9% 8.9% 9.0% 4.1% 2.6% 1.0% -0.6% 0.3% -1.0% -1.6% -2.1% -1.6% -1.1% -1.07%
Revenue 5Y 4.3% 4.6% 4.5% 5.0% 4.8% 4.1% 1.9% 1.3% 1.2% 0.7% 7.8% 8.1% 8.3% 9.5% 4.9% 5.1% 5.3% 5.8% 2.8% 2.3% 2.27%
EPS 3Y 16.3% 15.6% 41.0% 62.0% 49.6% 44.2% 34.3% 20.1% 25.7% 19.6% -0.5% -0.9% -16.4% -14.0% -15.6% -19.1% -9.8% -7.9% 11.2% 11.6% 11.56%
EPS 5Y 52.6% 22.9% 39.1% 43.4% 28.9% 31.1% 7.0% 2.6% 9.3% 8.1% 14.5% 18.2% 11.7% 4.5% 19.4% 12.7% 10.7% 16.5% 3.0% 4.7% 4.70%
Net Income 3Y 17.1% 16.5% 42.2% 62.8% 50.6% 45.3% 35.5% 21.1% 26.8% 20.6% 0.4% -0.0% -15.5% -13.3% -14.9% -18.2% -8.6% -6.7% 12.7% 13.0% 13.04%
Net Income 5Y 53.4% 23.7% 40.2% 44.3% 29.7% 32.1% 7.9% 3.3% 10.1% 8.9% 15.4% 18.9% 12.6% 5.3% 20.4% 13.8% 11.9% 17.8% 4.2% 5.9% 5.92%
EBITDA 3Y 2.1% -0.6% 1.6% 4.4% -0.9% 0.5% -2.0% -3.3% 1.1% -0.5% -5.2% -5.1% -10.0% -6.8% -6.6% -6.9% -0.4% -0.0% 8.7% 7.7% 7.69%
EBITDA 5Y 6.2% 1.8% 4.9% 5.6% 1.3% 2.8% -4.0% -4.8% -1.3% -1.9% -2.2% -2.1% -4.1% -5.1% 0.8% 0.2% 0.3% 2.6% -1.1% -0.4% -0.43%
Gross Profit 3Y 2.2% 1.9% 13.9% 14.9% 12.7% 13.0% 2.6% 2.4% 5.0% 5.6% 3.5% 2.9% 0.1% 1.6% 1.3% 1.1% -2.3% -9.8% -16.5% -16.8% -16.84%
Gross Profit 5Y 3.3% 2.2% 3.6% 3.7% 2.1% 2.8% 0.5% 0.3% 2.2% 2.5% 8.8% 9.1% 7.9% 7.4% 3.7% 3.3% 0.3% -3.2% -10.2% -10.3% -10.35%
Op. Income 3Y 11.6% 9.7% 28.0% 34.0% 26.3% 26.7% 11.9% 7.9% 13.8% 11.9% 2.9% 1.2% -7.0% -2.0% -5.1% -6.4% -0.0% -2.6% 9.2% 8.6% 8.58%
Op. Income 5Y 18.7% 11.4% 17.9% 18.7% 12.3% 14.5% 3.2% 1.3% 6.2% 5.8% 12.5% 14.3% 10.8% 9.8% 11.5% 8.8% 8.0% 9.2% 2.7% 2.1% 2.08%
FCF 3Y 3.8% -1.4% -2.4% -2.1% -2.8% 0.2% 1.2% -3.7% 0.6% -2.3% -11.2% -12.4% -19.9% -14.2% -27.3% -15.9% -13.4% -31.9% -10.4% -10.1% -10.07%
FCF 5Y 10.6% 4.9% 7.9% 7.3% 5.9% 12.3% 6.5% 1.3% 0.5% -2.4% -7.1% -7.1% -12.0% -10.8% -17.0% -11.6% -8.4% -18.6% -7.3% -8.3% -8.27%
OCF 3Y 2.8% -0.8% -1.1% -0.2% -0.9% 0.7% 2.0% -1.9% 2.5% 1.4% -6.1% -6.3% -10.8% -4.5% -12.6% -5.8% -5.5% -18.5% -3.7% 4.9% 4.87%
OCF 5Y 7.6% 4.3% 7.2% 7.4% 6.6% 11.5% 7.0% 2.3% 1.6% -0.8% -4.3% -3.6% -6.7% -5.0% -7.5% -4.6% -2.3% -8.1% -1.3% 2.5% 2.48%
Assets 3Y -0.8% -0.9% 0.9% 1.3% 1.7% -0.3% 2.9% 3.2% 3.5% 3.2% 3.2% 3.7% 3.5% 4.4% 2.9% 3.0% 3.0% 3.4% 1.1% 1.1% 1.09%
Assets 5Y -2.2% -1.8% -0.7% -0.7% -0.6% -0.6% 1.1% 1.4% 1.6% 1.5% 1.8% 2.3% 2.6% 1.8% 2.1% 2.2% 2.3% 2.6% 2.7% 2.9% 2.85%
Equity 3Y -4.8% -4.3% 0.6% 3.3% 5.5% 6.8% 8.9% 11.5% 14.7% 12.8% 9.1% 10.2% 8.7% 8.5% 4.7% 4.5% 6.4% 6.2% 6.9% 6.9% 6.85%
Book Value 3Y -5.4% -5.0% -0.3% 2.8% 4.8% 6.0% 7.9% 10.5% 13.7% 11.8% 8.1% 9.2% 7.6% 7.6% 3.9% 3.4% 5.0% 4.9% 5.6% 5.5% 5.45%
Dividend 3Y -16.8% -11.9% -5.8% 2.4% 1.6% 0.7% 0.0% -0.6% -0.5% -0.6% -0.6% -0.6% -0.8% -0.5% -0.5% -0.8% -0.9% -0.8% -0.5% 14.0% 13.98%
Growth Quality
Metric Trend 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 Q3'26 Current
Revenue Stability 0.06 0.04 0.43 0.41 0.35 0.27 0.24 0.21 0.23 0.18 0.79 0.68 0.60 0.53 0.59 0.45 0.38 0.37 0.43 0.45 0.455
Earnings Stability 0.66 0.68 0.69 0.65 0.70 0.74 0.43 0.33 0.63 0.51 0.39 0.28 0.24 0.12 0.11 0.03 0.01 0.07 0.01 0.01 0.012
Margin Stability 0.94 0.91 0.96 0.95 0.92 0.90 0.92 0.92 0.91 0.92 0.93 0.94 0.93 0.92 0.93 0.92 0.90 0.84 0.76 0.76 0.764
Rev. Growth Consistency 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.00 0.00 0.000
Earn. Growth Consistency 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00 0.00 0.50 0.50 0.00 0.00 0.00 0.00 0.50 0.50 0.50 0.50 0.500
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 0.83 0.50 0.94 0.50 0.84 0.80 0.95 0.85 0.93 0.97 0.84 0.87 0.95 1.00 0.83 0.50 0.84 0.86 0.862
Earnings Smoothness 0.32 0.42 0.65 0.42 0.87 0.57 0.51 0.35 0.88 0.54 0.84 0.92 0.50 0.61 0.85 0.99 0.64 0.37 0.66 0.71 0.705
ROE Trend 0.16 0.11 0.11 0.15 0.05 0.11 -0.09 -0.11 -0.06 -0.09 -0.04 -0.07 -0.12 -0.12 -0.02 -0.01 -0.00 0.06 0.02 0.03 0.027
Gross Margin Trend -0.01 -0.09 -0.05 -0.07 -0.11 -0.08 -0.08 -0.05 0.01 0.04 0.07 0.07 0.05 0.04 0.03 0.02 -0.08 -0.18 -0.29 -0.29 -0.291
FCF Margin Trend -0.03 -0.07 -0.03 -0.04 -0.04 -0.02 -0.02 -0.02 -0.01 -0.01 -0.03 -0.02 -0.05 -0.04 -0.06 -0.04 -0.02 -0.06 0.02 0.01 0.005
Sustainable Growth Rate 11.8% 6.9% 13.7% 18.8% 12.6% 17.3% 1.9% 1.4% 7.9% 3.8% 4.3% 2.5% -1.6% -2.6% 1.7% 2.2% 3.9% 8.2% 6.8% 0.3% 0.28%
Internal Growth Rate 2.3% 1.3% 3.5% 4.8% 2.9% 4.0% 0.5% 0.4% 1.9% 0.9% 1.2% 0.7% — — 0.5% 0.6% 1.0% 2.1% 2.0% 0.1% 0.08%
Cash Flow Quality
Metric Trend 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 Q3'26 Current
OCF/Net Income 1.84 1.97 1.43 1.22 1.58 1.47 2.47 2.40 1.82 2.01 1.66 1.86 2.16 2.63 1.55 1.87 1.75 0.98 1.54 1.91 1.913
FCF/OCF 0.87 0.83 0.83 0.81 0.80 0.81 0.80 0.80 0.80 0.78 0.74 0.71 0.63 0.60 0.48 0.58 0.61 0.48 0.64 0.50 0.501
FCF/Net Income snapshot only 0.959
OCF/EBITDA snapshot only 0.907
CapEx/Revenue 2.3% 2.6% 2.7% 2.8% 3.0% 2.9% 3.2% 3.1% 3.1% 3.2% 3.4% 3.9% 4.5% 5.4% 5.4% 5.4% 5.0% 4.8% 5.3% 8.9% 8.94%
CapEx/Depreciation snapshot only 1.823
Accruals Ratio -0.05 -0.05 -0.03 -0.02 -0.04 -0.04 -0.06 -0.06 -0.05 -0.05 -0.03 -0.04 -0.04 -0.05 -0.02 -0.04 -0.03 0.00 -0.03 -0.05 -0.051
Sloan Accruals snapshot only -0.020
Cash Flow Adequacy snapshot only 0.987
Earnings Quality Score snapshot only 0.750
Dividends & Buybacks
Metric Trend 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 Q3'26 Current
Dividend Yield 10.9% 11.7% 10.1% 10.9% 10.9% 10.4% 10.5% 10.4% 9.4% 8.3% 7.0% 7.5% 7.8% 7.9% 6.3% 7.1% 7.0% 6.8% 6.3% 11.1% 7.21%
Dividend/Share $1.22 $1.23 $1.25 $1.29 $1.29 $1.28 $1.27 $1.29 $1.29 $1.28 $1.28 $1.29 $1.28 $1.29 $1.28 $1.28 $1.28 $1.27 $1.28 $1.94 $1.30
Payout Ratio 62.3% 73.7% 51.9% 46.0% 58.5% 50.0% 88.0% 90.9% 66.6% 80.3% 75.3% 84.7% 1.1% 1.2% 87.9% 86.1% 78.9% 63.7% 64.0% 98.5% 98.55%
FCF Payout Ratio 38.9% 44.9% 43.8% 46.5% 46.4% 41.8% 44.5% 47.7% 45.7% 51.3% 61.0% 63.9% 82.1% 75.7% 1.2% 80.1% 73.5% 1.4% 64.4% 1.0% 1.03%
Total Payout Ratio 62.3% 73.7% 51.9% 46.0% 58.5% 50.0% 88.0% 90.9% 66.6% 80.3% 75.3% 84.7% 1.1% 1.2% 87.9% 86.1% 78.9% 63.7% 64.0% 98.6% 98.56%
Div. Increase Streak 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 1 1 1 1 1 1
Chowder Number -0.30 -0.18 -0.04 0.20 0.18 0.15 0.13 0.11 0.10 0.09 0.08 0.08 0.09 0.09 0.07 0.08 0.08 0.08 0.09 0.65 0.652
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% -0.7% -1.2% -1.4% -1.3% -1.7% -1.68%
Total Shareholder Return 10.9% 11.7% 10.1% 10.9% 10.9% 10.4% 10.5% 10.4% 9.4% 8.3% 7.0% 7.5% 7.8% 7.9% 6.3% 6.4% 5.8% 5.3% 5.0% 9.4% 9.45%
DuPont Factors
Metric Trend 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 Q3'26 Current
Tax Burden (NI/EBT) 0.99 1.00 1.00 1.00 1.00 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.99 0.992
Interest Burden (EBT/EBIT) 0.65 0.62 0.71 0.75 0.70 0.73 0.59 0.57 0.63 0.58 0.59 0.57 0.50 0.48 0.56 0.56 0.59 0.64 0.64 0.64 0.636
EBIT Margin 0.15 0.13 0.15 0.16 0.13 0.15 0.11 0.11 0.14 0.13 0.14 0.13 0.11 0.11 0.12 0.12 0.13 0.15 0.15 0.15 0.149
Asset Turnover 0.63 0.65 0.65 0.71 0.72 0.71 0.64 0.66 0.65 0.62 0.58 0.59 0.58 0.57 0.60 0.62 0.63 0.60 0.58 0.60 0.597
Equity Multiplier 5.20 5.19 4.01 4.08 4.50 4.49 3.81 3.82 4.19 4.18 3.75 3.83 4.16 4.30 3.60 3.67 3.99 4.08 3.41 3.44 3.437
Per Share
Metric Trend 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 Q3'26 Current
EPS (Diluted TTM) $1.96 $1.68 $2.41 $2.80 $2.21 $2.56 $1.45 $1.41 $1.94 $1.60 $1.69 $1.52 $1.14 $1.07 $1.45 $1.49 $1.62 $2.00 $1.99 $1.96 $1.96
Book Value/Share $6.78 $6.75 $9.17 $8.94 $7.86 $8.17 $9.45 $9.14 $8.55 $8.54 $9.91 $9.43 $8.44 $8.42 $10.29 $9.88 $9.09 $9.42 $11.12 $10.72 $10.72
Tangible Book/Share $-11.48 $-11.33 $-8.74 $-9.08 $-10.36 $-9.84 $-9.63 $-10.14 $-10.68 $-10.51 $-8.96 $-9.65 $-10.47 $-10.92 $-8.84 $-9.17 $-9.78 $-9.47 $-7.60 $-8.06 $-8.06
Revenue/Share $20.53 $21.47 $22.10 $23.26 $23.73 $23.83 $22.71 $22.53 $22.36 $21.71 $21.12 $20.89 $20.48 $20.61 $21.82 $21.87 $21.76 $21.51 $20.82 $20.97 $20.97
FCF/Share $3.13 $2.75 $2.86 $2.77 $2.78 $3.06 $2.86 $2.70 $2.82 $2.50 $2.09 $2.01 $1.56 $1.70 $1.08 $1.60 $1.74 $0.93 $1.98 $1.88 $1.88
OCF/Share $3.61 $3.30 $3.45 $3.43 $3.49 $3.76 $3.58 $3.39 $3.52 $3.20 $2.81 $2.82 $2.48 $2.81 $2.25 $2.77 $2.83 $1.95 $3.08 $3.76 $3.76
Cash/Share $0.09 $0.06 $0.11 $0.11 $0.06 $0.10 $0.11 $0.16 $0.05 $0.10 $0.07 $0.08 $0.05 $0.07 $0.14 $0.07 $0.06 $0.05 $0.06 $0.08 $0.08
EBITDA/Share $4.72 $4.18 $4.64 $4.82 $4.10 $4.42 $3.39 $3.45 $4.07 $3.80 $3.89 $3.74 $3.34 $3.30 $3.69 $3.76 $3.89 $4.24 $4.19 $4.14 $4.14
Debt/Share $19.87 $20.57 $19.75 $19.22 $19.17 $19.45 $21.34 $21.08 $20.81 $21.45 $20.98 $20.92 $20.83 $22.25 $21.80 $20.62 $20.20 $22.79 $20.40 $19.96 $19.96
Net Debt/Share $19.78 $20.52 $19.65 $19.11 $19.11 $19.36 $21.23 $20.93 $20.76 $21.35 $20.91 $20.84 $20.78 $22.18 $21.66 $20.55 $20.15 $22.73 $20.33 $19.89 $19.89
Academic Models
Metric Trend 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 Q3'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — 1.277
Altman Z-Prime snapshot only 1.180
Piotroski F-Score 8 7 8 7 6 8 4 4 4 4 6 6 3 4 5 6 7 5 6 6 6
Beneish M-Score -2.45 -2.35 -2.54 -2.19 -2.23 -2.63 -2.86 -2.95 -3.07 -2.84 -2.79 -2.72 -2.55 -2.68 -2.35 -2.55 12.94 -1.72 -2.27 -2.64 -2.636
Ohlson O-Score snapshot only -6.255
Net-Net WC snapshot only $-21.79
EVA snapshot only $6155298.11
Credit
Metric Trend 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 Q3'26 Current
Credit Rating snapshot only B
Credit Score 22.49 22.86 33.05 31.92 28.52 30.54 22.21 20.17 41.13 41.56 45.93 40.09 39.29 18.29 27.37 23.72 23.91 24.64 30.58 27.22 27.219
Credit Grade snapshot only 15
Credit Trend snapshot only 3.494
Implied Spread (bps) snapshot only 750.000
Industry Credit Rank snapshot only 0
Sector Credit Rank snapshot only 22

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