— Know what they know.
Not Investment Advice
Also trades as: VOD.JO (JNB) · $vol 18M · VDMCY (OTC) · $vol 0M

VODAF OTC

Vodacom Group Limited
1W: +0.0% 1M: +0.0% 3M: +0.0% YTD: +14.0% 1Y: +56.2% 3Y: +70.4% 5Y: +25.6%
$8.98
+0.00 (+0.00%)
 
OTC · Communication Services · Telecommunications Services · Tech Score Sell · Power 49 · $17.3B mcap · 551M float · 0.0000% daily turnover · Short 100% of daily vol

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 02, 2026
DCF
5
ROE
5
ROA
5
D/E
1
P/E
2
P/B
2
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. VODAF receives an overall rating of A-. Strongest factors: DCF (5/5), ROE (5/5), ROA (5/5). Areas of concern: D/E (1/5), P/E (2/5), P/B (2/5).
Rating Change History
DateFromTo
2026-08-14 B+ A-
2026-08-04 A- B+
2026-07-28 B+ A-
2026-07-25 A- B+
2026-07-01 None ADDED
2026-05-25 EXISTED None
2026-05-20 None ADDED
2026-03-15 EXISTED None
2026-03-10 None ADDED

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.

★ ★ ★ ★ ★ — Grade A
Profitability
69
Balance Sheet
59
Earnings Quality
46
Growth
33
Value
—
Momentum
62
Safety
—
Cash Flow
76

Risk & Quality Signals

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

Altman Z-Score
—
—
Piotroski F-Score
5/9
✓ ✓ ✗ ✓ ✗ ✓ ✗ ✓ ✗
Beneish M-Score
-3.46
Unlikely Manipulator
Ohlson O-Score
-9.48
Bankruptcy prob: 0.0%
Low Risk
Credit Rating
A-
Score: 69.0/100
Trend: Deteriorating
Earnings Quality
75/100
OCF/NI: 3.02x
Accruals: -22.9%
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. VODAF 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. VODAF's score of -3.46 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. VODAF'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. VODAF receives an estimated rating of A- (score: 69.0/100), 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). VODAF'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
14.81x
PEG
0.76x
P/S
1.77x
P/B
3.41x
P/FCF
—
P/OCF
—
EV/EBITDA
—
EV/Revenue
—
EV/EBIT
—
EV/FCF
—
Earnings Yield
—
FCF Yield
—
Shareholder Yield
—
Graham Number
$117.94
Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 14.8x earnings, VODAF trades at a reasonable valuation. Graham's intrinsic value formula yields $117.94 per share, suggesting a potential 1213% 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
0.559
NI / EBT
×
Interest Burden
0.889
EBT / EBIT
×
EBIT Margin
0.236
EBIT / Rev
×
Asset Turnover
0.968
Rev / Assets
×
Equity Multiplier
2.833
Assets / Equity
=
ROE
32.1%
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. VODAF's ROE of 32.1% is driven by Asset Turnover (0.968), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.56 suggests the company retains less than 60% of pre-tax earnings after taxes.

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
$118.44
Price/Value
—
Margin of Safety
—
Premium
—
Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with VODAF's realized 0.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. VODAF trades at a premium to its adjusted intrinsic value of $118.44, 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 14.8x.

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
$8.98
Median 1Y
$9.25
5th Pctile
$5.99
95th Pctile
$14.38
Ann. Volatility
26.5%
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 Trend 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 Q4'25 Q2'26 Q4'26 Current
ROE 1.1% 1.2% 1.1% 58.1% 64.9% 58.9% 59.1% 42.0% 39.4% 41.1% 41.3% 41.2% 39.4% 36.7% 41.0% 39.8% 38.4% 28.3% 29.4% 32.1% 32.14%
ROA 36.7% 36.0% 34.6% 25.5% 27.4% 25.0% 25.7% 20.4% 19.1% 20.2% 20.0% 19.4% 18.3% 17.3% 17.0% 16.6% 15.8% 11.6% 21.3% 11.3% 11.34%
ROIC 61.9% 64.1% 63.1% 32.9% 37.2% 32.1% 32.5% 28.4% 25.3% 27.9% 27.7% 26.8% 28.8% 24.4% 26.2% 25.8% 58.0% 49.7% 38.1% 26.2% 26.24%
ROCE 76.2% 74.1% 78.6% 41.9% 45.1% 37.1% 39.7% 37.4% 30.5% 34.2% 37.0% 37.7% 41.6% 36.2% 32.7% 35.0% 36.7% 29.4% 5.3% 29.6% 29.61%
Gross Margin 53.3% 55.7% 55.8% 54.0% 55.2% 56.9% 56.7% 40.4% 42.0% 41.1% 39.7% 40.1% 41.4% 38.6% 40.4% 38.1% 55.8% 39.4% 40.5% 39.6% 39.60%
Operating Margin 25.5% 26.7% 27.0% 25.3% 27.3% 26.1% 27.3% 25.0% 26.5% 24.5% 23.9% 24.6% 23.8% 21.6% 22.3% 21.1% 23.6% 21.8% 21.4% 24.4% 24.40%
Net Margin 15.5% 16.0% 17.0% 16.3% 19.1% 15.4% 18.8% 17.7% 17.5% 18.9% 15.0% 17.2% 16.4% 14.5% 13.9% 11.6% 10.2% 12.5% 11.3% 13.5% 13.50%
EBITDA Margin 33.3% 38.0% 34.9% 37.1% 34.8% 38.6% 34.8% 42.4% 40.6% 41.3% 39.6% 41.2% 37.6% 37.9% 39.4% 38.6% 37.4% 37.4% 38.8% 38.7% 38.73%
FCF Margin 12.4% 14.3% 15.4% 15.3% 17.5% 16.4% 17.1% 17.2% 19.0% 21.1% 21.0% 22.1% 19.8% 16.4% 18.1% 15.6% 17.1% 20.4% 14.7% 20.9% 20.85%
OCF Margin 29.5% 31.2% 31.0% 30.7% 30.9% 30.3% 31.3% 32.1% 34.6% 36.6% 35.5% 35.7% 33.4% 31.3% 33.5% 31.2% 33.0% 35.0% 29.2% 35.4% 35.37%
ROE 3Y Avg snapshot only 36.82%
ROE 5Y Avg snapshot only 37.68%
ROA 3Y Avg snapshot only 14.73%
ROIC 3Y Avg snapshot only 25.04%
ROIC Economic snapshot only 22.23%
Cash ROA snapshot only 31.74%
Cash ROIC snapshot only 56.95%
CROIC snapshot only 33.58%
NOPAT Margin snapshot only 16.30%
Pretax Margin snapshot only 20.97%
R&D / Revenue snapshot only 0.00%
SGA / Revenue snapshot only 23.64%
SBC / Revenue snapshot only 0.16%
Valuation
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
P/E Ratio — — — — — — — — — — — — — — — — — — — — 14.809
P/S Ratio — — — — — — — — — — — — — — — — — — — — 1.769
P/B Ratio — — — — — — — — — — — — — — — — — — — — 3.414
P/FCF — — — — — — — — — — — — — — — — — — — — —
P/OCF — — — — — — — — — — — — — — — — — — — — —
EV/EBITDA — — — — — — — — — — — — — — — — — — — — —
EV/Revenue — — — — — — — — — — — — — — — — — — — — —
EV/EBIT — — — — — — — — — — — — — — — — — — — — —
EV/FCF — — — — — — — — — — — — — — — — — — — — —
Earnings Yield — — — — — — — — — — — — — — — — — — — — —
FCF Yield — — — — — — — — — — — — — — — — — — — — —
PEG Ratio snapshot only 0.757
Graham Number snapshot only $117.94
Leverage & Solvency
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Current Ratio 1.07 1.20 1.09 1.06 1.07 1.41 1.04 1.02 1.30 1.16 1.10 1.05 0.88 0.88 1.02 0.95 0.99 1.00 1.09 1.10 1.098
Quick Ratio 1.01 1.16 1.04 1.02 1.03 1.36 1.00 0.99 1.26 1.12 1.07 1.02 0.85 0.85 0.99 0.91 0.96 0.97 0.49 1.07 1.071
Debt/Equity 1.21 1.43 1.30 0.46 0.50 0.49 0.44 0.62 0.57 0.59 0.63 0.60 0.66 0.64 0.82 0.82 0.02 0.02 0.05 1.02 1.018
Net Debt/Equity 0.87 0.94 0.92 0.30 0.29 0.29 0.28 0.43 0.37 0.33 0.43 0.46 0.43 0.49 0.55 0.63 -0.25 -0.27 0.04 0.66 0.664
Debt/Assets 0.37 0.41 0.39 0.24 0.25 0.24 0.22 0.29 0.28 0.28 0.29 0.28 0.29 0.29 0.31 0.31 0.01 0.01 0.32 0.34 0.341
Debt/EBITDA 0.54 0.58 0.54 0.54 0.53 0.59 0.55 0.75 0.76 0.70 0.65 0.62 0.66 0.72 0.82 0.77 0.02 0.02 0.05 0.99 0.992
Net Debt/EBITDA 0.39 0.38 0.38 0.35 0.31 0.36 0.34 0.52 0.49 0.40 0.44 0.48 0.43 0.55 0.55 0.59 -0.22 -0.30 0.04 0.65 0.647
Interest Coverage 12.00 10.57 9.56 8.58 8.38 8.00 8.02 9.29 9.67 10.36 11.58 11.03 11.56 9.03 6.98 5.44 3.46 3.24 3.25 3.44 3.439
Equity Multiplier 3.26 3.52 3.37 1.96 2.04 2.00 1.97 2.15 2.08 2.07 2.17 2.11 2.24 2.17 2.66 2.67 2.59 2.72 0.16 2.99 2.987
Cash Ratio snapshot only 0.416
Debt Service Coverage snapshot only 5.582
Cash to Debt snapshot only 0.348
FCF to Debt snapshot only 0.549
Defensive Interval snapshot only 451.2 days
Efficiency & Turnover
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Asset Turnover 2.22 2.19 2.12 1.57 1.60 1.47 1.47 1.15 1.10 1.10 1.16 1.13 1.09 1.10 1.10 1.20 1.28 0.98 1.93 0.97 0.968
Inventory Turnover 52.90 59.67 59.51 66.77 51.50 52.87 57.17 65.15 69.11 63.16 85.51 82.47 75.05 66.30 78.83 69.51 73.35 52.83 55.47 54.72 54.724
Receivables Turnover 12.45 11.35 12.88 10.09 11.93 9.27 10.36 8.01 10.42 8.64 9.42 8.22 9.90 9.54 9.18 8.87 10.88 8.48 15.69 7.87 7.868
Payables Turnover 9.19 3.47 7.98 3.39 7.49 3.28 6.51 3.35 6.71 3.78 14.20 4.07 5.59 4.56 5.99 4.11 4.35 3.47 5.91 3.07 3.070
DSO 29 32 28 36 31 39 35 46 35 42 39 44 37 38 40 41 34 43 23 46 46.4 days
DIO 7 6 6 5 7 7 6 6 5 6 4 4 5 6 5 5 5 7 7 7 6.7 days
DPO 40 105 46 108 49 111 56 109 54 96 26 90 65 80 61 89 84 105 62 119 118.9 days
Cash Conversion Cycle -4 -67 -11 -66 -11 -65 -14 -58 -14 -48 17 -41 -24 -36 -17 -42 -45 -55 -32 -66 -65.8 days
Fixed Asset Turnover snapshot only 2.962
Operating Cycle snapshot only 53.1 days
Cash Velocity snapshot only 7.571
Capital Intensity snapshot only 1.115
Growth (YoY)
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Revenue 39.0% 5.7% 7.4% 8.4% 8.5% 8.3% 7.2% 6.4% 5.7% 7.0% 9.0% 10.6% 13.0% 13.1% 17.2% 25.6% 34.1% 6.5% 6.0% 1.5% 1.52%
Net Income 26.4% -2.2% 1.6% 3.2% 12.4% 11.8% 14.5% 16.6% 7.0% 15.1% 7.8% 6.7% 9.7% -2.3% 4.3% 1.6% -2.0% -20.4% -23.8% -14.3% -14.27%
EPS 26.4% -2.3% 1.6% -1.8% -3.0% -3.5% -2.6% 4.1% 5.4% 12.9% 7.2% 6.0% 8.3% -3.1% -4.0% -10.5% -12.8% -29.5% -27.5% -18.5% -18.55%
FCF -14.0% -6.8% 12.2% 17.5% 52.9% 24.4% 19.5% 19.2% 14.8% 38.0% 33.4% 42.3% 17.6% -12.1% 1.2% -11.3% 16.2% 32.4% -13.9% 35.6% 35.59%
EBITDA 42.1% 10.1% 11.6% 11.1% 11.7% 9.6% 8.3% 11.8% 14.3% 17.2% 22.8% 19.4% 15.1% 10.8% 11.7% 18.8% 28.9% 4.8% 3.9% 1.1% 1.09%
Op. Income 33.0% 4.4% 7.4% 7.1% 10.5% 8.3% 7.4% 7.8% 4.3% 4.5% 2.5% 3.9% 4.1% 2.6% 7.8% 11.6% 23.1% 1.5% 1.6% 6.3% 6.27%
OCF Growth snapshot only 15.17%
Asset Growth snapshot only 17.13%
Equity Growth snapshot only 4.80%
Debt Growth snapshot only 30.18%
Shares Change snapshot only 5.26%
Dividend Growth snapshot only -31.84%
Growth (CAGR)
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Revenue 3Y — — — — — — 69.6% 34.4% 16.8% 7.0% 7.9% 8.4% 9.0% 9.4% 11.0% 13.9% 17.0% 8.8% 10.6% 12.1% 12.11%
Revenue 5Y — — — — — — — — — — — — — — 44.1% 27.5% 19.3% 8.1% 9.3% 10.2% 10.19%
EPS 3Y — — — — — — 54.1% 25.2% 8.9% 2.1% 2.0% 2.7% 3.5% 1.8% 0.1% -0.4% -0.2% -8.3% -9.3% -8.2% -8.24%
EPS 5Y — — — — — — — — — — — — — — 30.4% 13.2% 4.1% -6.2% -5.9% -4.6% -4.62%
Net Income 3Y — — — — — — 62.8% 32.2% 15.0% 7.9% 7.9% 8.7% 9.7% 7.9% 8.8% 8.1% 4.8% -3.6% -5.0% -2.4% -2.41%
Net Income 5Y — — — — — — — — — — — — — — 37.1% 20.2% 10.3% -0.4% -0.1% 2.3% 2.26%
EBITDA 3Y — — — — — — 72.8% 37.3% 22.0% 12.3% 14.1% 14.0% 13.7% 12.5% 14.1% 16.6% 19.3% 10.8% 12.5% 12.8% 12.77%
EBITDA 5Y — — — — — — — — — — — — — — 47.9% 29.7% 21.9% 10.4% 11.5% 12.2% 12.22%
Gross Profit 3Y — — — — — — 74.6% 35.4% 15.3% 2.8% -0.2% -0.2% -0.3% -1.2% 0.2% 2.2% 8.4% 1.5% 2.9% 6.7% 6.67%
Gross Profit 5Y — — — — — — — — — — — — — — 37.4% 21.1% 15.9% 5.6% 6.3% 7.0% 6.96%
Op. Income 3Y — — — — — — 66.5% 32.5% 15.3% 5.7% 5.7% 6.3% 6.3% 5.1% 5.9% 7.7% 10.1% 2.8% 4.0% 7.2% 7.21%
Op. Income 5Y — — — — — — — — — — — — — — 38.5% 21.9% 14.5% 4.2% 5.3% 7.3% 7.31%
FCF 3Y — — — — — — 51.2% 35.2% 14.7% 16.9% 21.4% 25.8% 27.3% 14.7% 17.3% 14.6% 16.2% 17.1% 5.1% 19.6% 19.62%
FCF 5Y — — — — — — — — — — — — — — 36.1% 25.6% 15.6% 13.2% 9.3% 19.1% 19.10%
OCF 3Y — — — — — — 62.8% 38.5% 19.2% 15.3% 14.3% 15.6% 13.7% 9.6% 13.9% 14.5% 19.5% 14.2% 8.1% 15.8% 15.80%
OCF 5Y — — — — — — — — — — — — — — 42.6% 29.1% 19.6% 12.0% 8.8% 14.3% 14.29%
Assets 3Y — — — — — — 40.3% 43.6% 46.3% 41.8% 34.1% 31.8% 31.3% 34.5% 41.2% 20.5% 22.4% 18.5% -54.6% 17.1% 17.13%
Assets 5Y — — — — — — — — — — — — — — 32.6% 32.4% 31.7% 31.8% -27.4% 29.6% 29.63%
Equity 3Y — — — — — — 55.4% 54.7% 58.4% 59.8% 53.2% 51.9% 48.7% 58.0% 52.9% 8.6% 12.9% 7.0% 4.9% 4.9% 4.93%
Book Value 3Y — — — — — — 47.1% 46.5% 50.1% 51.2% 44.9% 43.5% 40.3% 49.1% 40.6% 0.0% 7.6% 1.8% 0.2% -1.3% -1.35%
Dividend 3Y — — — — — — -0.6% -0.9% -0.8% -3.0% -4.0% -3.9% -5.9% -5.0% -9.1% -10.1% -7.7% -17.7% -15.3% -15.8% -15.83%
Growth Quality
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Revenue Stability — — 0.82 0.85 0.91 0.98 0.74 0.79 0.87 0.99 0.99 0.99 0.96 0.97 0.90 0.95 0.92 0.97 0.96 0.92 0.916
Earnings Stability — — 0.77 0.80 0.98 0.58 0.75 0.84 0.95 0.81 0.75 0.85 0.97 0.83 0.74 0.82 0.90 0.12 0.14 0.39 0.388
Margin Stability — — 0.96 0.96 0.96 0.95 0.96 0.97 0.95 0.91 0.87 0.87 0.87 0.85 0.84 0.85 0.88 0.87 0.85 0.87 0.868
Rev. Growth Consistency 0.50 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.000
Earn. Growth Consistency 0.50 0.00 1.00 1.00 1.00 0.50 1.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 1.00 1.00 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 — — 0.99 0.99 0.95 0.95 0.94 0.93 0.97 0.94 0.97 0.97 0.96 0.99 0.98 0.99 0.99 0.92 0.90 0.94 0.943
Earnings Smoothness 0.77 0.98 0.98 0.97 0.88 0.89 0.86 0.85 0.93 0.86 0.92 0.94 0.91 0.98 0.96 0.98 0.98 0.77 0.73 0.85 0.846
ROE Trend — — 0.34 -0.48 -0.52 -0.80 -0.75 -0.36 -0.42 -0.37 -0.33 0.02 0.03 -0.02 -0.00 -0.01 -0.02 -0.09 -0.12 -0.08 -0.081
Gross Margin Trend — — 0.03 0.03 0.03 0.03 0.03 -0.01 -0.05 -0.10 -0.14 -0.13 -0.11 -0.10 -0.08 -0.07 -0.01 0.03 0.04 0.05 0.049
FCF Margin Trend — — -0.04 -0.00 0.01 0.01 0.02 0.02 0.04 0.06 0.05 0.06 0.02 -0.02 -0.01 -0.04 -0.02 0.02 -0.05 0.02 0.020
Sustainable Growth Rate 9.0% 13.2% 13.1% 6.4% 9.2% 5.8% 6.2% 5.3% 3.1% 6.4% 5.4% 5.7% 6.6% 4.4% 8.0% 8.3% 8.8% 8.1% 7.7% 10.9% 10.88%
Internal Growth Rate 3.2% 4.2% 4.1% 2.9% 4.1% 2.5% 2.8% 2.6% 1.5% 3.3% 2.7% 2.7% 3.2% 2.1% 3.4% 3.6% 3.7% 3.4% 5.9% 4.0% 3.99%
Cash Flow Quality
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
OCF/Net Income 1.78 1.90 1.90 1.89 1.80 1.78 1.79 1.81 1.99 2.01 2.06 2.08 1.98 1.99 2.18 2.25 2.68 2.97 2.65 3.02 3.018
FCF/OCF 0.42 0.46 0.50 0.50 0.57 0.54 0.55 0.53 0.55 0.58 0.59 0.62 0.59 0.52 0.54 0.50 0.52 0.58 0.50 0.59 0.590
FCF/Net Income snapshot only 1.779
OCF/EBITDA snapshot only 0.924
CapEx/Revenue 17.1% 16.9% 15.7% 15.3% 13.4% 13.9% 14.1% 14.9% 15.5% 15.5% 14.5% 13.6% 13.6% 14.9% 15.4% 15.6% 15.8% 14.6% 14.5% 14.5% 14.52%
CapEx/Depreciation snapshot only 0.987
Accruals Ratio -0.29 -0.32 -0.31 -0.23 -0.22 -0.20 -0.20 -0.16 -0.19 -0.20 -0.21 -0.21 -0.18 -0.17 -0.20 -0.21 -0.27 -0.23 -0.35 -0.23 -0.229
Sloan Accruals snapshot only -0.099
Cash Flow Adequacy snapshot only 1.588
Earnings Quality Score snapshot only 0.750
Dividends & Buybacks
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Dividend Yield — — — — — — — — — — — — — — — — — — — — 4.83%
Dividend/Share $15.96 $15.63 $15.87 $15.42 $14.49 $15.32 $15.61 $15.78 $16.40 $16.18 $16.28 $16.48 $16.07 $16.37 $14.46 $13.52 $12.98 $9.37 $9.61 $9.22 $7.35
Payout Ratio 91.7% 88.8% 88.5% 89.0% 85.8% 90.1% 89.5% 87.5% 92.1% 84.3% 87.0% 86.2% 83.3% 88.0% 80.5% 79.1% 77.2% 71.4% 73.8% 66.2% 66.16%
FCF Payout Ratio 1.2% 1.0% 93.9% 94.2% 84.1% 93.4% 91.0% 90.5% 84.1% 72.9% 71.5% 66.9% 71.0% 84.5% 68.2% 70.3% 55.4% 41.3% 55.3% 37.2% 37.18%
Total Payout Ratio 93.0% 90.1% 89.6% 90.4% 87.0% 92.0% 91.5% 89.9% 94.7% 86.8% 90.1% 89.1% 86.5% 91.6% 83.5% 82.6% 80.3% 73.6% 77.8% 67.9% 67.95%
Div. Increase Streak 1 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 0 0 0 0 0
Chowder Number — — — — — — — — — — — — — — — — — — — — —
Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Net Buyback Yield — — — — — — — — — — — — — — — — — — — — —
Total Shareholder Return — — — — — — — — — — — — — — — — — — — — —
DuPont Factors
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Tax Burden (NI/EBT) 0.70 0.70 0.69 0.69 0.70 0.69 0.68 0.71 0.75 0.81 0.83 0.82 0.81 0.78 0.77 0.74 0.67 0.64 0.58 0.56 0.559
Interest Burden (EBT/EBIT) 0.91 0.89 0.89 0.89 0.93 0.93 0.96 0.94 0.88 0.86 0.82 0.82 0.84 0.83 0.82 0.80 0.79 0.79 0.82 0.89 0.889
EBIT Margin 0.26 0.26 0.26 0.26 0.27 0.26 0.27 0.27 0.26 0.26 0.26 0.25 0.25 0.24 0.24 0.24 0.23 0.23 0.23 0.24 0.236
Asset Turnover 2.22 2.19 2.12 1.57 1.60 1.47 1.47 1.15 1.10 1.10 1.16 1.13 1.09 1.10 1.10 1.20 1.28 0.98 1.93 0.97 0.968
Equity Multiplier 2.95 3.25 3.31 2.28 2.37 2.35 2.30 2.06 2.06 2.04 2.07 2.13 2.15 2.12 2.42 2.40 2.43 2.45 1.38 2.83 2.833
Per Share
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
EPS (Diluted TTM) $17.41 $17.61 $17.92 $17.33 $16.90 $17.00 $17.45 $18.04 $17.80 $19.19 $18.71 $19.11 $19.29 $18.60 $17.96 $17.11 $16.82 $13.12 $13.03 $13.93 $13.93
Book Value/Share $16.44 $15.63 $16.38 $44.55 $37.88 $44.27 $45.12 $46.21 $53.04 $50.02 $45.66 $46.99 $45.40 $51.79 $45.50 $44.57 $47.18 $46.70 $45.42 $44.37 $51.61
Tangible Book/Share $9.96 $9.43 $10.13 $38.66 $32.55 $38.31 $38.85 $38.94 $45.31 $42.36 $38.07 $39.07 $37.37 $41.54 $30.87 $29.25 $32.98 $31.54 $44.57 $28.35 $28.35
Revenue/Share $105.20 $107.15 $109.82 $106.87 $98.50 $100.18 $100.09 $101.51 $102.54 $105.17 $108.43 $111.45 $114.41 $118.02 $116.92 $123.28 $136.59 $111.30 $117.96 $118.90 $79.95
FCF/Share $13.06 $15.27 $16.90 $16.38 $17.23 $16.40 $17.16 $17.43 $19.49 $22.20 $22.76 $24.62 $22.63 $19.36 $21.19 $19.25 $23.41 $22.70 $17.36 $24.80 $14.57
OCF/Share $31.01 $33.39 $34.09 $32.76 $30.46 $30.35 $31.33 $32.59 $35.43 $38.51 $38.48 $39.80 $38.23 $36.99 $39.20 $38.44 $45.03 $38.94 $34.49 $42.06 $25.75
Cash/Share $5.53 $7.79 $6.21 $7.28 $7.93 $8.60 $7.36 $8.79 $10.79 $12.60 $9.26 $6.37 $10.34 $7.91 $12.18 $8.41 $12.78 $13.79 $0.72 $15.71 $15.77
EBITDA/Share $36.94 $38.47 $39.45 $38.29 $35.63 $36.42 $36.34 $38.20 $40.12 $41.88 $44.38 $45.32 $45.62 $46.06 $45.62 $47.42 $52.33 $42.74 $45.11 $45.54 $45.54
Debt/Share $19.82 $22.41 $21.35 $20.68 $18.97 $21.58 $19.81 $28.72 $30.42 $29.31 $28.71 $27.98 $29.99 $33.17 $37.24 $36.53 $1.12 $1.06 $2.32 $45.18 $45.18
Net Debt/Share $14.29 $14.63 $15.15 $13.40 $11.04 $12.98 $12.45 $19.93 $19.63 $16.71 $19.46 $21.61 $19.65 $25.27 $25.05 $28.12 $-11.66 $-12.73 $1.60 $29.48 $29.48
Academic Models
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Altman Z-Score — — — — — — — — — — — — — — — — — — — — —
Piotroski F-Score 7 5 6 6 5 6 5 4 4 4 6 7 5 4 5 4 7 6 7 5 5
Beneish M-Score -4.36 -3.67 -4.63 -2.21 -2.31 -1.76 -2.14 -3.48 -3.95 -4.31 -4.11 -4.27 -3.32 -3.06 -2.97 -2.84 -3.46 8.88 -27.31 -3.46 -3.456
Ohlson O-Score snapshot only -9.479
ROIC (Greenblatt) snapshot only 63.99%
Net-Net WC snapshot only $-39.64
EVA snapshot only $24924106739.90
Credit
Metric Trend 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 Q4'25 Q2'26 Q4'26 Current
Credit Rating snapshot only A-
Credit Score 76.25 76.25 73.75 76.75 76.75 76.75 76.75 75.25 75.25 77.75 77.75 77.75 77.75 75.25 72.75 72.75 71.50 71.50 71.50 69.00 69.000
Credit Grade snapshot only 7
Credit Trend snapshot only -3.750
Implied Spread (bps) snapshot only 175.000

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