Also trades as: SPXSY (OTC) · $vol 0M · SPXSF (OTC) · $vol 0M

£7,240.00 ($95.84)

+65.00 (+0.91%)

Weekly Expected Move ±3.7%

£6699 £6970 £7240 £7510 £7781

LSE · Industrials · Industrial - Machinery · Tech Score Buy · Power 61 · £5.3B mcap · 73M float · 0.283% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. SPX.L receives an overall rating of B. Strongest factors: ROE (4/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (2/5).

Rating Change History

Date	From	To
2026-06-02	B+	B
2026-06-01	B	B+
2026-05-28	B+	B
2026-05-18	B	B+
2026-04-07	None	ADDED
2026-04-07	EXISTED	None
2026-01-03	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.

★ ★ ★ ★ ★ 63 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

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. SPX.L scores highest in Safety (100/100) and lowest in Growth (35/100). An overall grade of A places SPX.L among the highest-quality companies in its peer group.

Risk & Quality Signals

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

Altman Z-Score

4.98

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✗ ✓ ✓ ✗ ✗ ✗ ✓

Beneish M-Score

-2.48

Unlikely Manipulator

Ohlson O-Score

-8.13

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA-

Score: 80.1/100

Trend: Deteriorating

Earnings Quality

75/100

OCF/NI: 1.45x

Accruals: -6.1%

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. SPX.L scores 4.98, 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. SPX.L scores 5/9, 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. SPX.L's score of -2.48 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. SPX.L's implied 0.0% 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. SPX.L receives an estimated rating of AA- (score: 80.1/100), 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). SPX.L'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

27.01x

PEG

1.27x

P/S

3.06x

P/B

4.27x

P/FCF

10.93x

P/OCF

9.62x

EV/EBITDA

7.23x

EV/Revenue

1.69x

EV/EBIT

9.37x

EV/FCF

12.46x

Earnings Yield

7.15%

FCF Yield

9.15%

Shareholder Yield

4.90%

Graham Number

$43.13

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 27.0x earnings, SPX.L commands a growth premium. An earnings yield of 7.1% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $43.13 per share, 16687% 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

0.725

NI / EBT

Interest Burden

0.810

EBT / EBIT

EBIT Margin

0.180

EBIT / Rev

Asset Turnover

1.259

Rev / Assets

Equity Multiplier

2.245

Assets / Equity

ROE

30.0%

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. SPX.L's ROE of 30.0% is driven by Asset Turnover (1.259), indicating efficient use of assets to generate revenue.

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

0.00%

Fair P/E

8.50x

Intrinsic Value

$41.51

Price/Value

1.65x

Margin of Safety

-64.66%

Premium

64.66%

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 SPX.L's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. SPX.L trades at a 65% premium to its adjusted intrinsic value of $41.51, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 8.5x compares to the current market P/E of 27.0x.

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

$7240.00

Median 1Y

$6863.39

5th Pctile

$4203.78

95th Pctile

$11311.46

Ann. Volatility

28.5%

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

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	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
ROE	45.1%	53.6%	55.4%	56.8%	59.1%	59.6%	54.4%	52.4%	42.1%	44.1%	44.5%	44.4%	45.5%	42.5%	37.7%	35.8%	31.5%	31.4%	29.8%	30.0%	29.97%
ROA	27.1%	27.5%	25.7%	26.9%	31.5%	27.8%	23.4%	22.8%	20.6%	21.4%	21.9%	21.6%	20.3%	19.6%	17.9%	16.9%	13.8%	13.5%	13.2%	13.3%	13.35%
ROIC	44.8%	36.9%	30.4%	32.3%	40.7%	35.0%	35.4%	33.7%	32.1%	33.9%	34.7%	33.8%	25.9%	25.5%	25.7%	24.5%	24.2%	22.6%	23.6%	22.8%	22.77%
ROCE	45.2%	39.5%	30.5%	32.1%	38.4%	35.6%	37.5%	35.0%	32.6%	39.0%	38.6%	36.9%	31.2%	31.9%	29.2%	28.3%	28.8%	29.3%	28.7%	28.0%	27.99%
Gross Margin	78.7%	22.4%	84.1%	20.5%	75.0%	19.7%	21.5%	18.5%	22.2%	23.9%	23.9%	22.4%	21.7%	18.0%	19.1%	19.4%	20.7%	19.3%	43.2%	17.9%	17.85%
Operating Margin	23.8%	22.0%	21.5%	20.3%	30.7%	19.7%	21.5%	18.5%	22.2%	23.9%	23.9%	22.4%	21.7%	18.0%	19.1%	17.8%	18.8%	13.0%	21.9%	17.9%	17.85%
Net Margin	16.9%	14.2%	17.0%	14.1%	24.1%	12.8%	14.0%	13.5%	15.5%	16.9%	18.0%	12.9%	14.8%	9.7%	12.1%	11.0%	11.9%	7.6%	11.4%	11.3%	11.29%
EBITDA Margin	26.4%	26.6%	25.2%	25.6%	33.5%	24.9%	26.6%	26.0%	28.2%	29.4%	28.9%	27.0%	25.6%	24.2%	23.3%	22.1%	23.4%	22.3%	24.4%	23.6%	23.57%
FCF Margin	16.4%	16.2%	14.8%	14.0%	14.3%	13.1%	14.1%	14.5%	14.8%	16.6%	16.0%	13.7%	10.8%	7.4%	8.2%	8.6%	11.8%	13.4%	13.9%	13.6%	13.57%
OCF Margin	20.2%	19.9%	18.1%	16.9%	17.3%	16.1%	18.1%	18.9%	19.5%	21.2%	20.5%	18.8%	16.9%	14.1%	14.9%	14.7%	16.5%	17.0%	16.4%	15.4%	15.41%
ROE 3Y Avg	snapshot only																				34.30%
ROE 5Y Avg	snapshot only																				39.31%
ROA 3Y Avg	snapshot only																				16.33%
ROIC 3Y Avg	snapshot only																				25.67%
ROIC Economic	snapshot only																				19.66%
Cash ROA	snapshot only																				19.32%
Cash ROIC	snapshot only																				26.80%
CROIC	snapshot only																				23.59%
NOPAT Margin	snapshot only																				13.10%
Pretax Margin	snapshot only																				14.61%
R&D / Revenue	snapshot only																				0.41%
SGA / Revenue	snapshot only																				0.05%
SBC / Revenue	snapshot only																				0.03%

Valuation

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
P/E Ratio	12.33	14.52	13.18	14.12	10.86	15.53	15.35	17.39	22.59	24.97	27.00	15.93	16.04	16.73	18.14	15.03	13.17	12.32	14.19	14.00	27.015
P/S Ratio	1.88	2.26	2.09	2.19	1.92	2.65	2.50	2.80	3.15	3.75	4.34	2.51	2.49	2.29	2.25	1.79	1.47	1.32	1.49	1.48	3.063
P/B Ratio	5.13	6.32	6.04	6.69	5.40	7.90	7.25	8.05	9.03	10.16	10.92	6.26	6.30	6.47	6.40	5.22	4.08	3.85	4.12	4.04	4.271
P/FCF	11.46	13.96	14.15	15.70	13.39	20.32	17.67	19.35	21.25	22.58	27.13	18.29	23.17	30.80	27.52	20.89	12.53	9.79	10.75	10.93	10.933
P/OCF	9.31	11.39	11.57	12.97	11.12	16.46	13.77	14.81	16.21	17.72	21.19	13.35	14.75	16.28	15.05	12.19	8.93	7.74	9.12	9.62	9.625
EV/EBITDA	7.26	8.93	8.88	9.22	7.27	10.36	9.51	10.60	12.32	13.90	15.65	9.20	9.97	9.73	9.93	8.55	7.23	6.77	7.33	7.23	7.225
EV/Revenue	1.86	2.34	2.30	2.39	2.03	2.84	2.64	2.95	3.26	3.84	4.42	2.61	2.75	2.56	2.48	2.04	1.68	1.54	1.69	1.69	1.691
EV/EBIT	8.37	10.27	10.79	11.33	8.74	12.69	11.67	13.19	16.11	17.85	19.61	11.27	12.11	12.09	12.41	10.85	9.25	8.58	9.44	9.37	9.371
EV/FCF	11.34	14.42	15.59	17.07	14.16	21.76	18.66	20.39	21.98	23.13	27.60	19.00	25.55	34.35	30.36	23.70	14.29	11.47	12.15	12.46	12.464
Earnings Yield	8.1%	6.9%	7.6%	7.1%	9.2%	6.4%	6.5%	5.7%	4.4%	4.0%	3.7%	6.3%	6.2%	6.0%	5.5%	6.7%	7.6%	8.1%	7.0%	7.1%	7.15%
FCF Yield	8.7%	7.2%	7.1%	6.4%	7.5%	4.9%	5.7%	5.2%	4.7%	4.4%	3.7%	5.5%	4.3%	3.2%	3.6%	4.8%	8.0%	10.2%	9.3%	9.1%	9.15%
PEG Ratio	snapshot only																				1.270
Price/Tangible Book	snapshot only																				25.890
EV/OCF	snapshot only																				10.973
EV/Gross Profit	snapshot only																				6.638
Acquirers Multiple	snapshot only																				9.414
Shareholder Yield	snapshot only																				4.90%
Graham Number	snapshot only																				$43.13

Leverage & Solvency

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Current Ratio	2.77	2.51	2.33	2.71	2.49	2.20	1.94	2.25	3.04	1.96	2.11	2.56	1.65	1.77	2.26	2.25	1.85	1.77	1.85	2.14	2.143
Quick Ratio	2.08	1.87	1.74	2.00	1.85	1.55	1.49	1.68	2.25	1.46	1.58	1.89	1.20	1.25	1.63	1.61	1.38	1.31	1.41	1.59	1.589
Debt/Equity	0.18	0.50	0.86	0.85	0.55	0.77	0.81	0.81	0.60	0.52	0.46	0.52	0.93	1.03	0.97	0.99	0.85	0.93	0.84	0.87	0.868
Net Debt/Equity	-0.05	0.21	0.61	0.58	0.31	0.56	0.40	0.43	0.31	0.25	0.19	0.24	0.65	0.75	0.66	0.70	0.57	0.66	0.54	0.57	0.566
Debt/Assets	0.11	0.25	0.36	0.36	0.27	0.34	0.36	0.36	0.29	0.27	0.25	0.28	0.39	0.43	0.41	0.43	0.39	0.41	0.38	0.40	0.400
Debt/EBITDA	0.25	0.68	1.15	1.08	0.70	0.94	1.00	1.02	0.79	0.70	0.65	0.74	1.33	1.40	1.37	1.43	1.32	1.39	1.32	1.36	1.362
Net Debt/EBITDA	-0.07	0.28	0.82	0.74	0.39	0.68	0.50	0.54	0.41	0.33	0.27	0.34	0.93	1.01	0.93	1.01	0.89	0.99	0.84	0.89	0.888
Interest Coverage	—	—	—	—	—	126.29	70.29	45.43	30.26	32.63	33.44	34.77	27.95	16.20	10.19	7.28	5.86	5.67	6.02	6.52	6.516
Equity Multiplier	1.65	1.98	2.43	2.35	2.03	2.26	2.25	2.26	2.05	1.90	1.85	1.89	2.38	2.39	2.34	2.32	2.19	2.28	2.18	2.17	2.172
Cash Ratio	snapshot only																				0.726
Debt Service Coverage	snapshot only																				8.452
Cash to Debt	snapshot only																				0.348
FCF to Debt	snapshot only																				0.425
Defensive Interval	snapshot only																				1044.1 days

Efficiency & Turnover

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Asset Turnover	1.78	1.76	1.62	1.73	1.78	1.63	1.44	1.42	1.48	1.42	1.36	1.37	1.31	1.43	1.44	1.42	1.23	1.26	1.25	1.26	1.259
Inventory Turnover	6.70	6.79	6.56	7.24	7.40	7.09	9.50	8.91	11.37	10.36	10.19	9.47	9.70	10.20	10.80	10.23	9.95	9.60	9.28	8.76	8.762
Receivables Turnover	8.35	9.52	9.02	10.13	10.00	10.40	10.02	10.77	10.27	10.11	9.89	10.19	10.37	11.43	11.18	10.64	10.22	10.47	10.53	10.21	10.205
Payables Turnover	24.64	8.45	20.74	8.44	23.23	8.54	28.82	11.09	37.59	11.73	31.40	11.04	33.65	12.30	35.73	11.79	30.72	11.46	14.33	10.47	10.470
DSO	44	38	40	36	37	35	36	34	36	36	37	36	35	32	33	34	36	35	35	36	35.8 days
DIO	54	54	56	50	49	51	38	41	32	35	36	39	38	36	34	36	37	38	39	42	41.7 days
DPO	15	43	18	43	16	43	13	33	10	31	12	33	11	30	10	31	12	32	25	35	34.9 days
Cash Conversion Cycle	83	49	78	43	70	44	62	42	58	40	61	41	62	38	56	39	61	41	49	43	42.6 days
Fixed Asset Turnover	snapshot only																				6.724
Operating Cycle	snapshot only																				77.4 days
Cash Velocity	snapshot only																				9.001
Capital Intensity	snapshot only																				0.798

Growth (YoY)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue	4.2%	13.1%	30.5%	43.0%	51.1%	51.0%	36.4%	23.4%	13.2%	7.5%	5.9%	12.4%	21.3%	27.1%	29.8%	24.0%	13.3%	5.0%	2.3%	1.0%	1.03%
Net Income	7.5%	22.2%	41.6%	49.4%	75.0%	65.4%	39.8%	27.7%	-10.6%	-5.5%	4.7%	10.2%	35.0%	16.0%	0.0%	-6.1%	-18.4%	-18.2%	-13.2%	-10.3%	-10.31%
EPS	7.2%	25.7%	40.6%	49.0%	74.5%	65.2%	39.7%	27.5%	-10.8%	-5.7%	4.9%	10.3%	35.2%	16.4%	0.0%	-6.1%	-18.6%	-18.4%	-13.0%	-10.4%	-10.43%
FCF	27.7%	30.8%	35.9%	30.4%	31.9%	21.5%	30.5%	27.7%	17.1%	36.7%	20.0%	6.7%	-12.1%	-43.0%	-33.8%	-22.4%	23.9%	89.4%	74.0%	59.6%	59.59%
EBITDA	42.3%	19.4%	35.4%	45.5%	64.3%	58.2%	45.8%	32.6%	7.3%	8.3%	7.8%	14.6%	26.2%	20.9%	14.8%	4.2%	-4.4%	-9.1%	-5.7%	-0.7%	-0.69%
Op. Income	9.0%	21.0%	33.7%	41.9%	62.1%	53.5%	42.1%	28.2%	-2.8%	0.2%	2.2%	14.7%	35.2%	25.7%	18.1%	2.9%	-8.7%	-15.5%	-9.3%	-5.3%	-5.29%
OCF Growth	snapshot only																				5.74%
Asset Growth	snapshot only																				0.98%
Equity Growth	snapshot only																				8.06%
Debt Growth	snapshot only																				-5.12%
Shares Change	snapshot only																				0.14%
Dividend Growth	snapshot only																				7.05%

Growth (CAGR)

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue 3Y	8.7%	9.3%	12.3%	15.4%	17.9%	20.6%	21.0%	21.8%	21.2%	22.4%	23.6%	25.6%	27.5%	27.3%	23.3%	19.8%	15.9%	12.8%	12.0%	12.1%	12.09%
Revenue 5Y	14.2%	14.8%	17.0%	17.9%	18.5%	19.0%	18.6%	17.8%	17.1%	16.2%	15.4%	16.3%	17.6%	19.1%	19.5%	20.3%	19.6%	19.6%	20.1%	20.0%	19.97%
EPS 3Y	15.2%	14.0%	15.3%	18.5%	27.2%	30.2%	26.1%	26.2%	18.6%	25.1%	27.2%	28.0%	28.2%	21.9%	13.6%	9.7%	-0.6%	-3.6%	-3.0%	-2.5%	-2.47%
EPS 5Y	20.7%	21.2%	23.4%	23.8%	27.5%	27.9%	27.0%	24.7%	18.9%	18.2%	17.5%	18.5%	19.9%	19.4%	16.0%	15.8%	12.9%	13.2%	12.4%	12.0%	12.00%
Net Income 3Y	16.0%	14.4%	15.8%	18.8%	27.5%	29.2%	26.5%	26.6%	18.9%	24.1%	27.5%	28.1%	28.3%	21.9%	13.6%	9.7%	-0.5%	-3.6%	-3.1%	-2.5%	-2.47%
Net Income 5Y	21.5%	22.2%	24.5%	24.7%	28.4%	28.9%	28.1%	25.2%	19.5%	18.5%	17.8%	18.7%	20.1%	18.8%	16.2%	16.0%	13.1%	12.6%	12.5%	12.1%	12.09%
EBITDA 3Y	14.6%	13.9%	15.0%	17.6%	22.9%	37.1%	37.1%	39.0%	35.9%	26.9%	28.6%	30.3%	30.6%	27.5%	21.8%	16.5%	9.0%	6.0%	5.3%	5.8%	5.84%
EBITDA 5Y	19.3%	20.3%	22.1%	22.9%	25.4%	26.1%	26.6%	24.6%	21.5%	20.4%	19.0%	19.8%	20.3%	27.5%	26.1%	26.2%	24.8%	17.6%	18.2%	18.0%	17.99%
Gross Profit 3Y	-13.4%	-13.8%	-7.7%	-5.1%	0.3%	10.0%	0.1%	8.2%	-9.8%	-7.5%	-5.2%	-2.3%	-2.0%	-3.5%	-11.9%	-13.3%	-17.3%	-17.5%	2.0%	2.1%	2.08%
Gross Profit 5Y	6.1%	4.1%	7.0%	4.6%	4.4%	3.7%	-4.2%	-5.2%	-14.7%	-14.5%	-14.6%	-11.9%	-9.8%	-5.0%	-4.0%	0.5%	-1.1%	-0.8%	5.7%	5.2%	5.22%
Op. Income 3Y	16.4%	15.3%	15.1%	17.0%	22.8%	24.8%	24.1%	24.9%	19.7%	23.0%	24.7%	27.8%	28.7%	24.6%	19.7%	14.8%	6.3%	2.1%	3.0%	3.8%	3.78%
Op. Income 5Y	20.5%	21.4%	22.7%	23.2%	26.3%	26.9%	27.2%	24.4%	20.0%	18.7%	17.2%	18.7%	19.4%	19.6%	18.2%	18.1%	16.2%	14.6%	15.7%	15.3%	15.25%
FCF 3Y	42.8%	49.0%	54.7%	47.7%	45.6%	35.4%	25.4%	29.2%	25.4%	29.5%	28.6%	21.1%	10.7%	-1.8%	1.2%	1.9%	8.5%	13.9%	11.4%	9.7%	9.73%
FCF 5Y	44.9%	43.1%	41.1%	35.2%	32.9%	32.8%	36.3%	35.7%	35.1%	40.6%	42.1%	34.4%	26.0%	14.1%	9.4%	12.3%	16.5%	18.6%	19.6%	17.1%	17.07%
OCF 3Y	23.5%	25.5%	26.9%	25.4%	27.1%	25.4%	24.6%	28.5%	27.1%	30.3%	28.7%	25.2%	20.1%	13.5%	15.7%	14.4%	14.1%	14.8%	8.3%	4.7%	4.73%
OCF 5Y	32.3%	31.5%	30.4%	26.7%	25.6%	24.0%	26.2%	25.9%	25.3%	27.8%	27.4%	24.9%	22.5%	18.7%	17.0%	18.2%	19.1%	18.8%	17.7%	15.0%	15.02%
Assets 3Y	12.1%	18.9%	31.9%	32.4%	31.7%	35.1%	38.6%	39.9%	33.0%	38.8%	39.1%	39.7%	47.7%	35.0%	22.4%	21.2%	19.4%	13.8%	12.8%	12.7%	12.71%
Assets 5Y	21.7%	27.5%	32.2%	29.9%	24.7%	30.2%	28.1%	27.1%	23.2%	21.8%	23.7%	26.0%	32.6%	30.4%	31.2%	31.2%	29.0%	31.8%	30.9%	29.1%	29.07%
Equity 3Y	11.4%	10.3%	15.1%	16.7%	20.7%	17.8%	27.0%	27.4%	24.5%	38.9%	36.4%	36.4%	30.7%	26.8%	23.9%	21.6%	16.4%	13.5%	14.0%	14.2%	14.18%
Book Value 3Y	10.7%	9.9%	14.6%	16.4%	20.3%	18.7%	26.6%	27.0%	24.2%	40.1%	36.1%	36.3%	30.6%	26.8%	23.9%	21.6%	16.3%	13.4%	14.1%	14.2%	14.18%
Dividend 3Y	4.2%	4.4%	-16.4%	-14.4%	-13.6%	-10.6%	8.7%	8.4%	7.9%	7.7%	6.3%	6.5%	7.0%	8.2%	8.1%	7.2%	6.4%	4.0%	3.6%	2.3%	2.34%

Growth Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Revenue Stability	0.94	0.96	0.92	0.85	0.81	0.80	0.83	0.85	0.86	0.85	0.87	0.90	0.90	0.91	0.94	0.98	1.00	0.98	0.96	0.97	0.965
Earnings Stability	0.98	0.98	0.92	0.90	0.82	0.83	0.87	0.89	0.82	0.84	0.89	0.92	0.86	0.89	0.89	0.88	0.68	0.60	0.56	0.53	0.526
Margin Stability	0.69	0.69	0.69	0.64	0.65	0.65	0.59	0.55	0.48	0.48	0.43	0.47	0.43	0.53	0.52	0.59	0.49	0.51	0.61	0.61	0.610
Rev. Growth Consistency	1.00	1.00	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	1.00	1.00	1.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	1.00	1.00	0.50	0.50	1.00	0.00	0.00	0.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.97	0.91	0.83	0.80	0.50	0.50	0.84	0.89	0.96	0.98	0.98	0.96	0.86	0.94	1.00	0.98	0.93	0.93	0.95	0.96	0.959
Earnings Smoothness	0.93	0.80	0.66	0.60	0.45	0.51	0.67	0.76	0.89	0.94	0.95	0.90	0.70	0.85	1.00	0.94	0.80	0.80	0.86	0.89	0.891
ROE Trend	-0.02	-0.04	-0.03	0.00	0.06	0.01	-0.00	-0.01	-0.06	-0.07	-0.06	-0.08	-0.06	-0.07	-0.09	-0.08	-0.09	-0.08	-0.09	-0.08	-0.082
Gross Margin Trend	-0.18	-0.09	0.01	0.03	0.03	0.01	-0.18	-0.17	-0.31	-0.28	-0.23	-0.20	-0.14	-0.15	-0.08	-0.09	-0.02	-0.02	0.05	0.04	0.042
FCF Margin Trend	0.06	0.05	0.01	0.00	-0.01	-0.02	-0.00	-0.00	-0.01	0.02	0.02	-0.00	-0.04	-0.07	-0.07	-0.06	-0.01	0.01	0.02	0.02	0.024
Sustainable Growth Rate	5.3%	9.3%	33.5%	34.4%	39.7%	38.8%	34.4%	31.6%	22.5%	24.2%	25.7%	25.0%	26.2%	21.6%	17.5%	15.3%	11.8%	10.1%	9.4%	9.4%	9.42%
Internal Growth Rate	3.3%	5.0%	18.4%	19.4%	26.8%	22.1%	17.4%	15.9%	12.4%	13.3%	14.5%	13.9%	13.3%	11.1%	9.1%	7.8%	5.5%	4.5%	4.4%	4.4%	4.38%

Cash Flow Quality

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
OCF/Net Income	1.32	1.27	1.14	1.09	0.98	0.94	1.11	1.17	1.39	1.41	1.27	1.19	1.09	1.03	1.20	1.23	1.47	1.59	1.56	1.45	1.454
FCF/OCF	0.81	0.82	0.82	0.83	0.83	0.81	0.78	0.77	0.76	0.78	0.78	0.73	0.64	0.53	0.55	0.58	0.71	0.79	0.85	0.88	0.880
FCF/Net Income	snapshot only																				1.280
OCF/EBITDA	snapshot only																				0.658
CapEx/Revenue	3.8%	3.7%	3.3%	2.9%	2.9%	3.1%	4.0%	4.4%	4.6%	4.6%	4.5%	5.1%	6.1%	6.6%	6.8%	6.1%	5.4%	4.7%	3.6%	3.0%	2.98%
CapEx/Depreciation	snapshot only																				0.556
Accruals Ratio	-0.09	-0.08	-0.04	-0.02	0.01	0.02	-0.03	-0.04	-0.08	-0.09	-0.06	-0.04	-0.02	-0.01	-0.04	-0.04	-0.07	-0.08	-0.07	-0.06	-0.061
Sloan Accruals	snapshot only																				-0.058
Cash Flow Adequacy	snapshot only																				1.505
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Dividend Yield	7.2%	5.7%	3.0%	2.8%	3.0%	2.2%	2.4%	2.3%	2.1%	1.8%	1.6%	2.7%	2.6%	2.9%	3.0%	3.8%	4.7%	5.5%	4.8%	4.9%	2.35%
Dividend/Share	$2.61	$2.68	$1.49	$1.63	$1.70	$1.87	$1.93	$2.09	$2.14	$2.27	$2.34	$2.54	$2.63	$2.89	$2.96	$3.13	$3.17	$3.25	$3.28	$3.35	$1.70
Payout Ratio	88.3%	82.6%	39.5%	39.5%	32.9%	34.9%	36.7%	39.8%	46.5%	45.0%	42.4%	43.7%	42.3%	49.1%	53.5%	57.4%	62.5%	67.7%	68.3%	68.6%	68.55%
FCF Payout Ratio	82.1%	79.4%	42.4%	43.9%	40.5%	45.7%	42.2%	44.2%	43.7%	40.7%	42.6%	50.2%	61.1%	90.4%	81.2%	79.7%	59.5%	53.8%	51.7%	53.5%	53.55%
Total Payout Ratio	89.1%	83.3%	40.1%	42.2%	34.6%	38.7%	42.2%	44.4%	55.1%	53.8%	52.3%	54.9%	52.5%	59.3%	61.7%	63.0%	66.0%	68.8%	68.3%	68.6%	68.55%
Div. Increase Streak	1	1	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.23	0.21	-0.38	-0.34	-0.32	-0.28	0.32	0.31	0.28	0.24	0.23	0.24	0.26	0.30	0.29	0.27	0.25	0.18	0.16	0.12	0.121
Buyback Yield	0.1%	0.0%	0.0%	0.2%	0.2%	0.2%	0.4%	0.3%	0.4%	0.4%	0.4%	0.7%	0.6%	0.6%	0.5%	0.4%	0.3%	0.1%	0.0%	0.0%	0.00%
Net Buyback Yield	0.1%	0.0%	0.0%	0.2%	0.1%	0.2%	0.3%	0.2%	0.3%	0.3%	0.3%	0.7%	0.6%	0.6%	0.4%	0.3%	0.2%	0.0%	-0.0%	-0.0%	-0.04%
Total Shareholder Return	7.2%	5.7%	3.0%	3.0%	3.2%	2.5%	2.7%	2.5%	2.4%	2.1%	1.9%	3.4%	3.2%	3.5%	3.4%	4.1%	4.9%	5.5%	4.8%	4.9%	4.86%

DuPont Factors

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Tax Burden (NI/EBT)	0.70	0.70	0.77	0.77	0.79	0.79	0.74	0.74	0.71	0.72	0.74	0.73	0.74	0.74	0.74	0.75	0.74	0.74	0.73	0.73	0.725
Interest Burden (EBT/EBIT)	0.98	0.98	0.97	0.96	0.96	0.97	0.97	0.97	0.97	0.97	0.97	0.93	0.93	0.88	0.84	0.85	0.83	0.80	0.81	0.81	0.810
EBIT Margin	0.22	0.23	0.21	0.21	0.23	0.22	0.23	0.22	0.20	0.22	0.23	0.23	0.23	0.21	0.20	0.19	0.18	0.18	0.18	0.18	0.180
Asset Turnover	1.78	1.76	1.62	1.73	1.78	1.63	1.44	1.42	1.48	1.42	1.36	1.37	1.31	1.43	1.44	1.42	1.23	1.26	1.25	1.26	1.259
Equity Multiplier	1.66	1.95	2.16	2.11	1.88	2.15	2.32	2.30	2.04	2.06	2.03	2.05	2.24	2.17	2.11	2.12	2.28	2.33	2.26	2.24	2.245

Per Share

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
EPS (Diluted TTM)	$2.96	$3.24	$3.77	$4.13	$5.16	$5.36	$5.27	$5.26	$4.60	$5.05	$5.52	$5.81	$6.22	$5.88	$5.53	$5.45	$5.06	$4.80	$4.81	$4.88	$4.88
Book Value/Share	$7.11	$7.45	$8.23	$8.72	$10.38	$10.53	$11.16	$11.37	$11.52	$12.42	$13.65	$14.78	$15.84	$15.20	$15.66	$15.69	$16.34	$15.37	$16.56	$16.93	$16.95
Tangible Book/Share	$3.60	$3.14	$-5.06	$0.05	$-3.35	$-5.88	$-4.24	$-4.76	$-3.65	$-2.32	$-0.94	$-0.90	$-10.00	$-9.37	$0.37	$0.63	$1.60	$1.15	$2.21	$2.64	$2.64
Revenue/Share	$19.36	$20.80	$23.76	$26.55	$29.16	$31.36	$32.38	$32.72	$32.96	$33.67	$34.34	$36.83	$40.04	$42.91	$44.57	$45.67	$45.24	$44.91	$45.65	$46.07	$23.64
FCF/Share	$3.18	$3.37	$3.51	$3.71	$4.18	$4.09	$4.58	$4.73	$4.89	$5.59	$5.50	$5.06	$4.31	$3.20	$3.64	$3.92	$5.32	$6.04	$6.34	$6.25	$2.90
OCF/Share	$3.92	$4.13	$4.29	$4.49	$5.04	$5.06	$5.87	$6.18	$6.41	$7.12	$7.04	$6.93	$6.77	$6.04	$6.66	$6.72	$7.47	$7.64	$7.48	$7.10	$3.34
Cash/Share	$1.62	$2.17	$2.06	$2.39	$2.54	$2.25	$4.47	$4.33	$3.33	$3.43	$3.72	$4.13	$4.46	$4.38	$4.87	$4.47	$4.52	$4.10	$5.00	$5.12	$5.13
EBITDA/Share	$4.97	$5.44	$6.17	$6.87	$8.15	$8.60	$8.98	$9.10	$8.73	$9.30	$9.69	$10.44	$11.04	$11.28	$11.13	$10.87	$10.52	$10.22	$10.52	$10.78	$10.78
Debt/Share	$1.25	$3.71	$7.11	$7.44	$5.73	$8.12	$8.98	$9.24	$6.89	$6.48	$6.29	$7.72	$14.70	$15.73	$15.20	$15.51	$13.86	$14.22	$13.88	$14.69	$14.69
Net Debt/Share	$-0.37	$1.54	$5.06	$5.05	$3.20	$5.86	$4.52	$4.91	$3.56	$3.05	$2.58	$3.58	$10.24	$11.35	$10.33	$11.03	$9.34	$10.12	$8.88	$9.57	$9.57

Academic Models

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.976
Altman Z-Prime	snapshot only																				8.080
Piotroski F-Score	5	6	4	3	4	4	5	6	5	6	9	9	5	5	6	5	6	6	7	5	5
Beneish M-Score	-2.54	-2.01	-1.49	-1.39	-1.62	-1.68	-0.94	-2.52	-1.61	-3.01	-2.72	-2.33	-1.92	-1.85	-2.29	-2.71	-2.77	-2.95	-2.92	-2.48	-2.479
Ohlson O-Score	snapshot only																				-8.128
ROIC (Greenblatt)	snapshot only																				55.77%
Net-Net WC	snapshot only																				$-4.72
EVA	snapshot only																				$250106964.82

Credit

Metric	Q4'16	Q2'17	Q4'17	Q2'18	Q4'18	Q2'19	Q4'19	Q2'20	Q4'20	Q2'21	Q4'21	Q2'22	Q4'22	Q2'23	Q4'23	Q2'24	Q4'24	Q2'25	Q4'25	Q2'26	Current
Credit Rating	snapshot only																				AA-
Credit Score	94.14	91.11	85.80	88.67	90.01	94.17	90.45	90.97	93.25	95.02	95.17	95.28	85.96	83.54	84.92	81.92	77.48	77.33	77.86	80.08	80.084
Credit Grade	snapshot only																				4
Credit Trend	snapshot only																				-1.835
Implied Spread (bps)	snapshot only																				100.000
Industry Credit Rank	snapshot only																				65
Sector Credit Rank	snapshot only																				74

SPX.L LSE

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

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