Also trades as: THWWW (NASDAQ) · $vol 0M

$14.23

+0.17 (+1.21%)

Weekly Expected Move ±9.1%

$11 $13 $14 $15 $16

NASDAQ · Industrials · Specialty Business Services · Tech Score Sell · Power 34 · $1.4B mcap · 32M float · 5.50% daily turnover · Short 43% of daily vol

Credit Risk of going bust: lower than 77% of companies Debt: 0.6% of company value Bonds: none of note held by US funds 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 $0.01 (down 99.9%), Target Hospitality Corp. would be worth roughly what it owes.
Total debt $8.3M against a stock market value of $1.42B.
Distance to default 8.86 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $4.1M (short-term plus half of long-term), stock volatility 64.2%; Altman Z'' 1.98. A ranking and a back-test, not a forecast.
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.

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

25.7 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: -7.2% · 5Y Avg: 8.4%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale ★

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. TH has No discernible competitive edge (25.7/100). The business operates without significant structural advantages. The primary source of advantage is Efficient Scale. Negative ROIC of -7.2% indicates the company is currently destroying value, though this may reflect a growth investment phase.

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

$22

Low

$25

Avg Target

$27

High

Based on 7 analysts since Aug 10, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 7Hold: 0Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$24.57

Analysts7

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-09-13	Morgan Stanley	—	$22	$25	+3	+29.9%	$19.25
2026-09-08	Oppenheimer	—	$21	$27	+6	+36.3%	$19.81
2026-08-27	Northland Securities	—	$24	$25	+1	+33.5%	$18.73
2026-08-27	Stifel Nicolaus	Stephen Gengaro	$11	$26	+15	+54.9%	$16.78
2026-08-27	Deutsche Bank	—	$22	$23	+1	+37.1%	$16.78
2026-08-17	Morgan Stanley	Angel Castillo	Initiated	$22	—	+26.1%	$17.44
2026-08-11	Northland Securities	—	Initiated	$24	—	+43.2%	$16.76
2026-06-01	Deutsche Bank	—	Initiated	$22	—	+26.7%	$17.36
2026-05-13	Oppenheimer	—	$18	$21	+3	+20.1%	$17.48
2026-04-09	Oppenheimer	Scott Schneeberger	$10	$18	+8	+20.8%	$14.90
2026-03-11	Stifel Nicolaus	Stephen Gengaro	$10	$11	+2	+25.3%	$8.78
2024-06-11	Stifel Nicolaus	Stephen Gengaro	$12	$10	-2	+42.9%	$6.65
2024-04-11	Stifel Nicolaus	Stephen Gengaro	Initiated	$12	—	+10.9%	$10.82
2024-03-25	Oppenheimer	Scott Schneeberger	$22	$10	-12	-10.1%	$11.12
2023-03-13	Oppenheimer	Scott Schneeberger	$7	$22	+15	+30.9%	$16.81
2022-03-11	Oppenheimer	Scott Schneeberger	Initiated	$7	—	+27.7%	$5.48

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.

C+

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. TH receives an overall rating of C+. Strongest factors: D/E (5/5). Areas of concern: ROE (1/5), ROA (1/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-10-12	C-	C+
2026-10-01	C+	C-
2026-08-20	C	C+
2026-08-10	C+	C
2026-07-01	C	C+
2026-06-30	C+	C
2026-04-27	C	C+
2026-04-06	C+	C
2026-04-01	B-	C+
2026-03-20	C+	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.

★ ★ ★ ★ ★ 47 Grade D

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. TH scores highest in Safety (100/100) and lowest in Profitability (6/100). 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

5.16

Safe Zone

Piotroski F-Score

5/9

✗ ✓ ✗ ✓ ✓ ✗ ✗ ✓ ✓

Beneish M-Score

-3.02

Unlikely Manipulator

Ohlson O-Score

-7.20

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

A-

Score: 68.4/100

Trend: Deteriorating

Earnings Quality

—

OCF/NI: -4.51x

Accruals: -35.0%

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. TH scores 5.16, 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. TH 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. TH's score of -3.02 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. TH's implied 0.1% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TH receives an estimated rating of A- (score: 68.4/100), with a deteriorating trend.

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

-37.65x

PEG

-0.63x

P/S

4.08x

P/B

3.85x

P/FCF

20.87x

P/OCF

11.99x

EV/EBITDA

41.63x

EV/Revenue

5.88x

EV/EBIT

-53.30x

EV/FCF

20.89x

Earnings Yield

-1.85%

FCF Yield

4.79%

Shareholder Yield

0.06%

Graham Number

—

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. TH currently has negative earnings — the P/E ratio is not meaningful.

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

0.912

NI / EBT

Interest Burden

1.078

EBT / EBIT

EBIT Margin

-0.110

EBIT / Rev

Asset Turnover

0.585

Rev / Assets

Equity Multiplier

1.540

Assets / Equity

ROE

-9.8%

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. TH's ROE of -9.8% is driven by Asset Turnover (0.585), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.91 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

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

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

$14.23

Median 1Y

$11.57

5th Pctile

$2.97

95th Pctile

$45.07

Ann. Volatility

81.8%

Analyst Target

$24.57

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

Executive Compensation

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

C-Suite Compensation

Executive	Salary	Stock	Total
James B Archer President and Chief Executive Officer	$850,000	$3,703,518	$7,239,484
Jason Vlacich Financial ancial Officer	$445,385	$1,159,494	$2,551,912
Troy C. Schrenk Senior Executive Vice President, Operations, Chief Commercial Officer	$400,000	$666,873	$1,902,021
Heidi D. Lewis Executive Vice President, General Counsel and Secretary	$392,692	$484,996	$1,617,001
Brendan Dowhaniuk President, Vice President, Strategy & Corporate Development	$325,000	$424,375	$1,436,124

CEO Pay Ratio

112:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $7,239,484

Avg Employee Cost (SGA/emp): $64,865

Employees: 902

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

902

+17.1% YoY

Revenue / Employee

$355,471

Rev: $320,635,000

Profit / Employee

$-41,154

NI: $-37,121,000

SGA / Employee

$64,865

Avg labor cost proxy

Scaling Efficiency

All Ratios & Metrics

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

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-16.5%	-4.7%	9.8%	31.1%	37.8%	49.6%	69.0%	67.9%	69.2%	60.1%	48.7%	35.5%	25.6%	17.9%	11.2%	2.8%	-2.4%	-9.2%	-11.0%	-9.8%	-9.77%
ROA	-3.1%	-0.9%	1.8%	6.2%	7.2%	11.5%	20.5%	23.2%	23.5%	23.7%	22.5%	17.9%	13.7%	10.0%	7.1%	1.8%	-1.5%	-5.9%	-7.9%	-6.3%	-6.34%
ROIC	4.2%	7.2%	8.1%	12.9%	27.8%	32.4%	38.1%	41.0%	42.5%	39.2%	35.8%	30.1%	23.9%	19.0%	13.5%	5.3%	0.6%	-6.7%	-8.4%	-7.2%	-7.23%
ROCE	3.7%	7.4%	10.8%	16.0%	19.3%	24.4%	68.6%	64.9%	61.6%	39.8%	35.0%	39.5%	30.5%	23.4%	15.9%	7.0%	0.9%	-7.9%	-10.2%	-6.9%	-6.90%
Gross Margin	37.7%	35.8%	34.7%	47.9%	51.9%	55.0%	55.4%	57.3%	59.4%	49.3%	46.0%	46.5%	47.5%	44.2%	25.7%	-7.2%	32.5%	-0.4%	-0.7%	18.5%	18.49%
Operating Margin	18.7%	16.7%	15.4%	34.5%	37.6%	42.1%	41.9%	45.1%	46.4%	36.6%	28.5%	29.3%	29.4%	24.9%	-1.5%	-27.7%	0.1%	-16.7%	-16.1%	-8.8%	-8.77%
Net Margin	7.5%	3.4%	0.6%	20.8%	11.9%	20.7%	29.6%	32.3%	31.2%	30.0%	19.1%	18.3%	21.0%	14.9%	-9.2%	-24.2%	-0.8%	-16.6%	-17.8%	-10.6%	-10.57%
EBITDA Margin	39.3%	37.8%	34.8%	48.3%	34.8%	48.0%	57.6%	60.7%	59.6%	58.0%	47.5%	49.2%	50.1%	47.7%	22.6%	1.2%	18.8%	7.7%	12.8%	16.4%	16.43%
FCF Margin	35.5%	23.6%	14.2%	-3.1%	34.0%	32.8%	33.2%	37.1%	12.2%	16.2%	27.3%	29.3%	29.9%	33.0%	20.7%	22.0%	26.0%	12.3%	8.3%	28.1%	28.15%
OCF Margin	45.0%	35.9%	25.1%	11.6%	61.0%	60.9%	61.6%	62.6%	28.0%	27.6%	36.6%	36.7%	37.2%	39.3%	30.0%	24.8%	31.4%	23.1%	23.9%	49.0%	48.97%
ROE 3Y Avg	snapshot only																				7.78%
ROE 5Y Avg	snapshot only																				19.65%
ROA 3Y Avg	snapshot only																				4.62%
ROIC 3Y Avg	snapshot only																				2.70%
ROIC Economic	snapshot only																				-7.23%
Cash ROA	snapshot only																				26.00%
Cash ROIC	snapshot only																				45.69%
CROIC	snapshot only																				26.26%
NOPAT Margin	snapshot only																				-7.75%
Pretax Margin	snapshot only																				-11.89%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				16.54%
SBC / Revenue	snapshot only																				2.14%

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	-21.77	-75.33	64.22	16.89	27.17	20.86	11.91	10.01	9.97	5.86	7.41	7.22	8.16	13.58	14.68	63.73	-87.36	-21.53	-21.28	-54.15	-37.646
P/S Ratio	1.38	1.18	1.78	1.54	2.85	3.07	2.45	2.34	2.83	1.80	2.13	1.84	1.84	2.50	1.87	2.28	2.69	2.49	2.87	5.87	4.081
P/B Ratio	3.86	3.54	5.92	4.45	8.43	7.68	5.78	4.86	4.93	2.70	2.96	2.22	1.89	2.30	1.57	1.76	2.10	2.05	2.46	5.51	3.853
P/FCF	3.89	5.02	12.55	-49.09	8.36	9.36	7.39	6.29	23.27	11.12	7.80	6.27	6.15	7.60	9.00	10.38	10.36	20.32	34.52	20.87	20.867
P/OCF	3.07	3.30	7.09	13.26	4.67	5.05	3.98	3.73	10.12	6.55	5.81	5.00	4.94	6.38	6.21	9.19	8.55	10.79	12.01	11.99	11.994
EV/EBITDA	7.78	6.32	7.66	6.13	8.28	8.18	5.94	5.21	5.39	3.35	3.98	3.55	3.65	5.25	4.40	6.97	11.02	18.98	26.86	41.63	41.632
EV/Revenue	2.53	2.24	2.84	2.49	3.21	3.42	2.78	2.60	3.04	1.98	2.27	1.93	1.88	2.55	1.92	2.34	2.64	2.50	2.97	5.88	5.880
EV/EBIT	41.04	19.93	18.60	11.46	13.60	12.09	8.14	7.05	7.23	4.48	5.47	5.07	5.50	8.57	8.28	21.72	211.48	-22.73	-20.12	-53.30	-53.296
EV/FCF	7.11	9.51	19.95	-79.65	9.44	10.41	8.39	7.00	24.98	12.17	8.32	6.57	6.29	7.75	9.28	10.65	10.16	20.38	35.77	20.89	20.890
Earnings Yield	-4.6%	-1.3%	1.6%	5.9%	3.7%	4.8%	8.4%	10.0%	10.0%	17.1%	13.5%	13.9%	12.3%	7.4%	6.8%	1.6%	-1.1%	-4.6%	-4.7%	-1.8%	-1.85%
FCF Yield	25.7%	19.9%	8.0%	-2.0%	12.0%	10.7%	13.5%	15.9%	4.3%	9.0%	12.8%	15.9%	16.3%	13.2%	11.1%	9.6%	9.6%	4.9%	2.9%	4.8%	4.79%
Price/Tangible Book	snapshot only																				6.882
EV/OCF	snapshot only																				12.007
EV/Gross Profit	snapshot only																				43.218
Shareholder Yield	snapshot only																				0.06%

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	0.74	0.83	1.66	1.67	1.13	1.24	0.28	0.40	0.58	2.57	2.78	0.89	1.01	1.07	1.97	1.47	0.96	0.87	0.85	0.65	0.646
Quick Ratio	0.74	0.83	1.66	1.67	1.13	1.24	0.28	0.40	0.58	2.57	2.78	0.89	1.01	1.07	1.97	1.47	0.96	0.87	0.85	0.65	0.646
Debt/Equity	3.52	3.41	3.55	2.85	2.30	1.77	0.95	0.79	0.67	0.53	0.53	0.50	0.47	0.50	0.13	0.09	0.03	0.03	0.10	0.02	0.022
Net Debt/Equity	3.20	3.17	3.49	2.77	1.09	0.86	0.78	0.55	0.36	0.26	0.20	0.11	0.04	0.05	0.05	0.05	-0.04	0.01	0.09	0.01	0.006
Debt/Assets	0.62	0.65	0.71	0.65	0.46	0.46	0.35	0.34	0.33	0.29	0.29	0.28	0.28	0.29	0.10	0.07	0.02	0.02	0.07	0.01	0.013
Debt/EBITDA	3.89	3.21	2.89	2.42	2.00	1.69	0.86	0.76	0.68	0.60	0.67	0.75	0.89	1.12	0.36	0.36	0.18	0.25	1.09	0.17	0.169
Net Debt/EBITDA	3.52	2.98	2.84	2.35	0.94	0.83	0.70	0.53	0.37	0.29	0.25	0.16	0.08	0.10	0.13	0.18	-0.23	0.06	0.94	0.05	0.045
Interest Coverage	0.41	0.85	1.29	2.05	2.69	3.75	5.24	6.67	8.18	9.29	9.12	7.70	6.81	5.40	4.09	2.23	0.33	-5.53	-16.15	-12.90	-12.895
Equity Multiplier	5.67	5.28	5.01	4.39	5.01	3.84	2.69	2.29	2.06	1.84	1.83	1.76	1.70	1.72	1.35	1.33	1.34	1.36	1.43	1.77	1.768
Cash Ratio	snapshot only																				0.061
Debt Service Coverage	snapshot only																				16.508
Cash to Debt	snapshot only																				0.733
FCF to Debt	snapshot only																				11.809
Defensive Interval	snapshot only																				253.5 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	0.48	0.56	0.64	0.68	0.68	0.78	1.00	1.00	0.83	0.77	0.78	0.70	0.61	0.54	0.56	0.50	0.50	0.51	0.59	0.58	0.585
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Receivables Turnover	7.81	10.23	9.01	6.67	11.48	14.15	12.08	9.17	11.66	10.32	9.80	9.40	8.03	6.64	6.31	5.85	6.99	6.08	6.31	6.44	6.441
Payables Turnover	17.46	16.93	19.46	10.87	10.80	17.36	13.70	12.82	9.59	13.01	10.96	13.49	11.81	11.21	10.02	11.01	7.38	9.08	10.56	8.72	8.720
DSO	47	36	40	55	32	26	30	40	31	35	37	39	45	55	58	62	52	60	58	57	56.7 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0.0 days
DPO	21	22	19	34	34	21	27	28	38	28	33	27	31	33	36	33	49	40	35	42	41.9 days
Cash Conversion Cycle	26	14	22	21	-2	5	4	11	-7	7	4	12	15	22	21	29	3	20	23	15	14.8 days
Fixed Asset Turnover	snapshot only																				7.623
Cash Velocity	snapshot only																				57.246
Capital Intensity	snapshot only																				1.883

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	4.6%	29.4%	63.9%	63.8%	65.1%	72.3%	74.6%	67.2%	36.8%	12.3%	-8.3%	-20.5%	-27.3%	-31.5%	-33.1%	-35.3%	-26.6%	-17.0%	-7.4%	11.9%	11.92%
Net Income	-0.2%	82.3%	1.2%	2.1%	3.7%	17.2%	11.9%	3.3%	2.7%	1.3%	28.1%	-13.3%	-42.3%	-59.0%	-70.4%	-90.9%	-1.1%	-1.5%	-2.0%	-4.4%	-4.39%
EPS	0.5%	82.4%	1.2%	2.0%	3.7%	16.4%	10.8%	3.0%	2.4%	1.3%	33.0%	-10.0%	-40.1%	-57.2%	-69.5%	-90.7%	-1.1%	-1.5%	-2.0%	-4.4%	-4.37%
FCF	3.2%	1.0%	99.5%	-1.2%	58.1%	1.4%	3.1%	20.8%	-51.2%	-44.5%	-24.5%	-37.2%	78.8%	39.2%	-49.2%	-51.5%	-36.3%	-69.1%	-62.9%	43.4%	43.40%
EBITDA	2.6%	51.5%	1.6%	1.3%	97.4%	1.0%	1.2%	1.1%	98.7%	58.7%	11.8%	-13.5%	-33.5%	-43.5%	-48.7%	-60.0%	-66.0%	-77.5%	-76.6%	-52.9%	-52.90%
Op. Income	15.2%	8.1%	4.8%	23.9%	4.9%	3.7%	3.2%	2.1%	1.1%	38.0%	-6.6%	-30.7%	-48.1%	-54.8%	-63.0%	-82.4%	-98.0%	-1.3%	-1.6%	-2.1%	-2.11%
OCF Growth	snapshot only																				1.21%
Asset Growth	snapshot only																				22.57%
Equity Growth	snapshot only																				-7.77%
Debt Growth	snapshot only																				-78.12%
Shares Change	snapshot only																				0.82%

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	21.8%	6.6%	4.7%	4.1%	8.1%	16.1%	22.4%	28.7%	33.2%	35.8%	38.0%	29.6%	18.0%	9.9%	2.3%	-4.9%	-10.0%	-13.9%	-17.2%	-16.8%	-16.81%
Revenue 5Y	—	—	—	—	—	—	71.3%	48.3%	32.5%	18.6%	13.0%	8.4%	4.7%	3.8%	2.4%	1.9%	4.7%	7.3%	10.2%	9.5%	9.53%
EPS 3Y	—	—	—	—	89.7%	1.2%	60.3%	4.3%	—	—	—	—	—	—	68.7%	-30.9%	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	1.3%	95.3%	73.4%	69.9%	—	—	69.6%	62.0%	10.8%	64.6%	—	—	—	—	—
Net Income 3Y	—	—	—	—	87.9%	1.3%	65.9%	4.4%	—	—	—	—	—	—	69.9%	-30.3%	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	1.7%	1.4%	1.1%	1.1%	—	—	70.0%	62.8%	11.6%	65.7%	—	—	—	—	—
EBITDA 3Y	91.6%	1.1%	5.7%	57.0%	30.3%	26.6%	26.1%	42.0%	59.1%	69.6%	85.1%	59.3%	37.7%	22.0%	8.2%	-10.8%	-23.4%	-41.4%	-48.8%	-45.4%	-45.38%
EBITDA 5Y	—	—	—	—	—	—	84.4%	89.4%	94.2%	97.5%	2.8%	47.0%	24.0%	12.7%	2.8%	-0.2%	-1.9%	-9.1%	-5.3%	-5.3%	-5.30%
Gross Profit 3Y	3.6%	-6.4%	-6.8%	-4.2%	5.2%	18.9%	30.2%	46.4%	62.1%	76.3%	89.1%	59.5%	35.2%	20.7%	7.7%	-12.6%	-24.5%	-43.1%	-55.2%	-47.7%	-47.73%
Gross Profit 5Y	—	—	—	—	—	—	79.6%	54.3%	35.3%	20.4%	14.0%	8.5%	4.2%	3.9%	1.5%	-1.9%	1.1%	-4.4%	-8.2%	-4.8%	-4.77%
Op. Income 3Y	—	—	—	87.5%	51.6%	53.6%	45.2%	81.3%	1.4%	2.9%	—	2.8%	86.0%	43.1%	13.0%	-27.5%	-72.0%	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	70.1%	30.4%	17.7%	1.1%	-6.2%	-31.6%	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	1.4%	47.8%	38.8%	83.1%	28.4%	11.3%	22.9%	16.1%	—	-17.8%	-38.0%	-47.8%	-24.1%	-24.14%
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	32.5%	29.7%	2.8%	2.9%	8.0%	8.02%
OCF 3Y	—	—	—	31.5%	81.5%	71.4%	65.1%	77.8%	54.2%	49.2%	89.3%	29.6%	10.7%	13.2%	8.6%	22.6%	-27.8%	-37.6%	-39.6%	-23.4%	-23.36%
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	57.2%	29.4%	20.1%	6.1%	2.7%	17.1%	9.6%	22.3%	16.0%	16.04%
Assets 3Y	17.2%	-3.1%	-5.6%	-3.5%	6.3%	8.7%	3.1%	4.3%	8.1%	9.1%	9.6%	10.7%	10.2%	12.2%	4.5%	-0.8%	-9.5%	-11.8%	-6.0%	-0.6%	-0.59%
Assets 5Y	—	—	—	—	—	—	14.7%	15.2%	16.2%	4.2%	3.3%	2.7%	3.2%	3.9%	-1.1%	-1.9%	-0.4%	-0.2%	0.7%	4.9%	4.94%
Equity 3Y	1.7%	-34.7%	-7.7%	-2.9%	1.2%	18.6%	23.6%	36.3%	46.4%	56.3%	63.2%	66.4%	64.7%	63.0%	61.7%	47.7%	40.3%	24.7%	16.0%	8.4%	8.43%
Book Value 3Y	98.7%	-51.1%	-13.6%	-1.8%	2.2%	17.0%	19.4%	32.3%	42.1%	52.0%	59.8%	63.8%	62.2%	61.1%	60.5%	46.5%	39.1%	25.5%	18.4%	10.1%	10.15%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

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	0.17	0.03	0.00	0.02	0.19	0.44	0.79	0.82	0.87	0.75	0.60	0.47	0.37	0.30	0.17	0.08	0.08	0.06	0.04	0.01	0.013
Earnings Stability	0.75	0.28	0.01	0.05	0.14	0.29	0.31	0.45	0.50	0.59	0.63	0.69	0.61	0.53	0.34	0.23	0.12	0.03	0.01	0.01	0.007
Margin Stability	0.74	0.71	0.66	0.75	0.77	0.72	0.70	0.75	0.73	0.71	0.67	0.75	0.80	0.84	0.84	0.77	0.70	0.54	0.43	0.52	0.516
Rev. Growth Consistency	0.50	0.50	0.50	0.50	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	0.00	0.00	0.50	0.500
Earn. Growth Consistency	0.00	0.50	0.50	0.50	0.50	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	0.00	0.00	0.000
FCF Positive Streak	1	1	1	0	1	1	1	0	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.89	0.95	0.83	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.200
Earnings Smoothness	—	—	—	—	—	—	0.00	0.00	0.00	0.19	0.75	0.86	0.46	0.16	0.00	0.00	—	—	—	—	—
ROE Trend	-0.12	0.06	0.25	0.44	0.48	0.52	0.70	0.53	0.43	0.30	0.11	-0.07	-0.17	-0.25	-0.34	-0.37	-0.39	-0.41	-0.37	-0.27	-0.269
Gross Margin Trend	-0.08	-0.01	0.04	0.07	0.13	0.19	0.24	0.21	0.19	0.14	0.09	0.04	-0.03	-0.06	-0.11	-0.22	-0.26	-0.37	-0.40	-0.27	-0.274
FCF Margin Trend	0.38	0.20	0.09	-0.21	0.12	0.13	0.20	0.24	-0.23	-0.12	0.04	0.12	0.07	0.08	-0.09	-0.11	0.05	-0.12	-0.16	0.03	0.025
Sustainable Growth Rate	—	—	9.8%	31.1%	37.8%	49.6%	69.0%	67.9%	69.2%	60.1%	48.7%	35.5%	25.6%	17.9%	11.2%	2.8%	—	—	—	—	—
Internal Growth Rate	—	—	1.8%	6.6%	7.7%	13.0%	25.8%	30.3%	30.7%	31.1%	29.0%	21.8%	15.9%	11.2%	7.7%	1.8%	—	—	—	—	—

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	-7.09	-22.86	9.06	1.27	5.82	4.13	2.99	2.68	0.98	0.89	1.27	1.44	1.65	2.13	2.36	6.93	-10.21	-2.00	-1.77	-4.51	-4.514
FCF/OCF	0.79	0.66	0.57	-0.27	0.56	0.54	0.54	0.59	0.43	0.59	0.75	0.80	0.80	0.84	0.69	0.89	0.83	0.53	0.35	0.57	0.575
FCF/Net Income	snapshot only																				-2.595
OCF/EBITDA	snapshot only																				3.467
CapEx/Revenue	9.5%	12.3%	10.9%	14.7%	26.9%	28.1%	28.4%	25.5%	15.8%	11.3%	9.3%	7.4%	7.3%	6.3%	9.3%	2.8%	5.5%	10.8%	15.6%	20.8%	20.82%
CapEx/Depreciation	snapshot only																				0.828
Accruals Ratio	-0.25	-0.21	-0.14	-0.02	-0.35	-0.36	-0.41	-0.39	0.00	0.02	-0.06	-0.08	-0.09	-0.11	-0.10	-0.11	-0.17	-0.18	-0.22	-0.35	-0.350
Sloan Accruals	snapshot only																				-0.251
Cash Flow Adequacy	snapshot only																				2.352

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	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%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	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%	—	—	—	—	—
FCF Payout Ratio	0.0%	0.0%	0.0%	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	—	—	0.5%	0.0%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	14.1%	17.3%	22.7%	47.0%	27.8%	1.2%	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.9%	2.4%	2.8%	3.5%	1.9%	1.9%	1.6%	0.3%	0.2%	0.1%	0.06%
Net Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.1%	-0.0%	-0.0%	-0.0%	1.8%	2.4%	2.8%	3.5%	1.9%	1.9%	1.6%	0.3%	0.2%	0.1%	0.05%
Total Shareholder Return	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.1%	-0.0%	-0.0%	-0.0%	1.8%	2.4%	2.8%	3.5%	1.9%	1.9%	1.6%	0.3%	0.2%	0.1%	0.05%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.84	1.71	0.67	0.75	0.68	0.70	0.73	0.73	0.76	0.77	0.77	0.76	0.78	0.77	0.76	0.72	1.06	0.86	0.86	0.91	0.912
Interest Burden (EBT/EBIT)	-1.23	-0.08	0.27	0.55	0.65	0.75	0.83	0.86	0.89	0.90	0.90	0.88	0.85	0.81	0.72	0.46	-2.34	1.23	1.06	1.08	1.078
EBIT Margin	0.06	0.11	0.15	0.22	0.24	0.28	0.34	0.37	0.42	0.44	0.42	0.38	0.34	0.30	0.23	0.11	0.01	-0.11	-0.15	-0.11	-0.110
Asset Turnover	0.48	0.56	0.64	0.68	0.68	0.78	1.00	1.00	0.83	0.77	0.78	0.70	0.61	0.54	0.56	0.50	0.50	0.51	0.59	0.58	0.585
Equity Multiplier	5.37	5.34	5.49	5.03	5.27	4.31	3.36	2.92	2.95	2.54	2.17	1.98	1.86	1.78	1.58	1.54	1.53	1.55	1.39	1.54	1.540

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)	$-0.17	$-0.05	$0.09	$0.34	$0.46	$0.73	$1.10	$1.34	$1.59	$1.66	$1.47	$1.21	$0.95	$0.71	$0.45	$0.11	$-0.10	$-0.37	$-0.44	$-0.38	$-0.38
Book Value/Share	$0.97	$1.00	$1.01	$1.28	$1.50	$1.97	$2.27	$2.76	$3.22	$3.61	$3.67	$3.92	$4.12	$4.20	$4.19	$4.04	$4.03	$3.90	$3.77	$3.69	$3.69
Tangible Book/Share	$-0.41	$-0.33	$-0.31	$0.02	$0.27	$0.83	$1.17	$1.67	$2.16	$2.58	$2.65	$2.93	$3.16	$3.27	$3.28	$3.16	$3.19	$3.10	$3.00	$2.96	$2.96
Revenue/Share	$2.70	$3.01	$3.36	$3.72	$4.43	$4.93	$5.36	$5.74	$5.61	$5.39	$5.10	$4.74	$4.23	$3.86	$3.53	$3.12	$3.15	$3.21	$3.24	$3.47	$3.47
FCF/Share	$0.96	$0.71	$0.48	$-0.12	$1.51	$1.62	$1.78	$2.13	$0.68	$0.88	$1.39	$1.39	$1.27	$1.27	$0.73	$0.69	$0.82	$0.39	$0.27	$0.98	$0.89
OCF/Share	$1.22	$1.08	$0.85	$0.43	$2.70	$3.00	$3.30	$3.60	$1.57	$1.49	$1.87	$1.74	$1.57	$1.51	$1.06	$0.77	$0.99	$0.74	$0.77	$1.70	$1.70
Cash/Share	$0.32	$0.24	$0.06	$0.10	$1.82	$1.78	$0.40	$0.66	$1.00	$0.99	$1.21	$1.52	$1.75	$1.90	$0.35	$0.19	$0.30	$0.08	$0.05	$0.06	$0.06
EBITDA/Share	$0.88	$1.07	$1.24	$1.51	$1.72	$2.06	$2.51	$2.87	$3.16	$3.18	$2.91	$2.57	$2.18	$1.88	$1.54	$1.05	$0.75	$0.42	$0.36	$0.49	$0.49
Debt/Share	$3.40	$3.43	$3.60	$3.65	$3.45	$3.48	$2.16	$2.18	$2.16	$1.92	$1.94	$1.94	$1.94	$2.09	$0.55	$0.38	$0.13	$0.11	$0.39	$0.08	$0.08
Net Debt/Share	$3.09	$3.18	$3.54	$3.56	$1.63	$1.70	$1.76	$1.51	$1.16	$0.93	$0.73	$0.42	$0.18	$0.19	$0.20	$0.19	$-0.17	$0.02	$0.34	$0.02	$0.02

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	5.163
Altman Z-Prime	snapshot only																				8.150
Piotroski F-Score	5	6	8	8	8	8	7	7	6	6	7	6	6	5	5	6	4	4	3	5	5
Beneish M-Score	-3.53	-3.54	-2.83	-1.55	-3.65	-3.54	-3.91	-4.44	-2.10	-1.61	-2.63	-2.83	-2.98	-3.29	-2.45	-6.65	-3.30	-61.94	-23.92	-3.02	-3.022
Ohlson O-Score	snapshot only																				-7.204
ROIC (Greenblatt)	snapshot only																				-3.62%
Net-Net WC	snapshot only																				$-2.20
EVA	snapshot only																				$-64151350.00

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																				A-
Credit Score	20.95	25.81	39.77	43.76	49.82	66.99	80.56	84.49	83.03	88.19	86.59	85.46	82.01	81.53	81.89	78.46	71.28	69.17	67.41	68.38	68.383
Credit Grade	snapshot only																				7
Credit Trend	snapshot only																				-10.080
Implied Spread (bps)	snapshot only																				175.000
Industry Credit Rank	snapshot only																				57
Sector Credit Rank	snapshot only																				60

TH NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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