$40.26

-0.04 (-0.10%)

Weekly Expected Move ±2.6%

$38 $39 $40 $41 $42

NYSE · Energy · Oil & Gas Equipment & Services · Tech Score Sell · Power 38 · $1.2B mcap · 26M float · 0.970% daily turnover · Short 53% of daily vol

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.

WEAK EDGE

48.2 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 9.0% · 5Y Avg: 3.9%

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. VTOL shows a Weak competitive edge (48.2/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. ROIC of 9.0% 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

Low

$60

Avg Target

$60

High

Based on 1 analyst ratings (12 mo)

Analyst Recommendations

Strong Buy: 0Buy: 2Hold: 0Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$60.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-02-17	Raymond James	—	Initiated	$60	—	+35.7%	$44.20

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.

B+

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. VTOL receives an overall rating of B+. Strongest factors: ROE (4/5), ROA (5/5), P/B (4/5). Areas of concern: DCF (1/5), D/E (1/5).

Rating Change History

Date	From	To
2026-10-01	B-	B+
2026-08-24	B	B-
2026-08-20	B-	B
2026-08-14	B	B-
2026-08-05	B-	B
2026-07-01	B	B-
2026-05-18	B+	B
2026-05-04	B	B+
2026-04-30	B+	B
2026-04-01	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.

★ ★ ★ ★ ★ 46 Grade B

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. VTOL scores highest in Value (91/100) and lowest in Profitability (30/100). A grade of B indicates above-average fundamentals with room for improvement in select areas.

Risk & Quality Signals

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

Altman Z-Score

1.94

Grey Zone

Piotroski F-Score

6/9

✓ ✓ ✗ ✓ ✓ ✓ ✗ ✗ ✓

Beneish M-Score

-2.35

Unlikely Manipulator

Ohlson O-Score

-7.31

Bankruptcy prob: 0.1%

Low Risk

Credit Rating

BBB-

Score: 53.5/100

Trend: Improving

Earnings Quality

100/100

OCF/NI: 1.27x

Accruals: -1.2%

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. VTOL scores 1.94, placing it in the Grey Zone (safe > 2.99, distress < 1.81). Financial distress is possible and warrants monitoring. 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. VTOL 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. VTOL's score of -2.35 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. VTOL'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. VTOL receives an estimated rating of BBB- (score: 53.5/100), 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). VTOL's score of 100/100 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

11.25x

PEG

-0.82x

P/S

0.76x

P/B

1.09x

P/FCF

-35.98x

P/OCF

9.35x

EV/EBITDA

7.52x

EV/Revenue

1.21x

EV/EBIT

12.00x

EV/FCF

-54.99x

Earnings Yield

8.41%

FCF Yield

-2.78%

Shareholder Yield

2.03%

Graham Number

$53.26

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 11.2x earnings, VTOL trades at a reasonable valuation. An earnings yield of 8.4% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $53.26 per share, suggesting a potential 32% margin of safety at the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

1.049

NI / EBT

Interest Burden

0.629

EBT / EBIT

EBIT Margin

0.101

EBIT / Rev

Asset Turnover

0.670

Rev / Assets

Equity Multiplier

2.252

Assets / Equity

ROE

10.1%

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. VTOL's ROE of 10.1% is driven by Asset Turnover (0.670), indicating efficient use of assets to generate revenue. A tax burden ratio of 1.05 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

15.00%

Fair P/E

38.50x

Intrinsic Value

$133.71

Price/Value

0.31x

Margin of Safety

69.10%

Premium

-69.10%

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 VTOL's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. VTOL actually compounded EPS at 148.1% over three years; the model uses 15%, the highest rate it will extrapolate — of 4,457 company-quarters that grew faster than 200%, none sustained it over the following seven years. VTOL trades at a -69% premium to its adjusted intrinsic value of $133.71, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 38.5x compares to the current market P/E of 11.2x.

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

$40.23

Median 1Y

$36.71

5th Pctile

$15.80

95th Pctile

$85.49

Ann. Volatility

50.5%

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

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

3,447

+4.5% YoY

Revenue / Employee

$410,644

Rev: $1,415,491,000

Profit / Employee

$27,501

NI: $94,797,000

SGA / Employee

$57,443

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	-12.0%	-6.2%	-1.8%	0.3%	2.0%	1.1%	1.5%	0.8%	-0.7%	-0.8%	0.2%	3.7%	6.5%	11.1%	13.2%	13.0%	14.7%	13.2%	11.5%	10.1%	10.05%
ROA	-5.5%	-2.8%	-0.8%	0.1%	0.9%	0.5%	0.6%	0.3%	-0.3%	-0.4%	0.1%	1.6%	2.8%	4.7%	5.7%	5.6%	6.5%	5.8%	5.0%	4.5%	4.46%
ROIC	-3.9%	-1.4%	0.1%	0.1%	1.0%	0.9%	2.1%	2.0%	2.8%	-1.6%	0.2%	2.7%	4.3%	7.7%	7.5%	6.8%	8.9%	8.1%	7.8%	9.0%	8.96%
ROCE	2.7%	2.2%	1.8%	3.3%	2.2%	2.3%	2.3%	2.0%	3.0%	4.3%	5.4%	7.4%	7.5%	8.0%	8.6%	7.8%	8.7%	7.8%	7.3%	7.7%	7.71%
Gross Margin	17.9%	15.5%	21.0%	23.7%	22.7%	22.9%	22.6%	22.7%	27.1%	28.7%	26.3%	31.2%	26.3%	30.9%	28.6%	27.7%	28.2%	20.0%	94.8%	26.4%	26.43%
Operating Margin	4.1%	1.6%	-1.4%	1.9%	4.9%	3.1%	2.0%	1.8%	9.0%	5.4%	6.8%	12.4%	9.3%	8.4%	9.6%	11.3%	13.1%	8.5%	6.8%	9.6%	9.61%
Net Margin	0.9%	-0.0%	-1.6%	1.4%	5.5%	-2.3%	-0.5%	-0.5%	1.3%	-2.2%	2.0%	7.8%	7.9%	8.4%	7.8%	8.4%	13.3%	4.9%	3.4%	5.1%	5.14%
EBITDA Margin	16.0%	9.8%	7.0%	11.2%	10.2%	10.5%	8.0%	9.7%	14.3%	11.0%	12.1%	18.0%	15.4%	13.9%	15.3%	15.2%	18.3%	13.4%	14.5%	18.1%	18.10%
FCF Margin	9.3%	10.9%	7.9%	6.3%	2.1%	-5.6%	-7.4%	-7.9%	-5.7%	-3.8%	-4.7%	-6.1%	-5.3%	-5.5%	-6.4%	-0.6%	-1.6%	3.8%	3.9%	-2.2%	-2.20%
OCF Margin	11.4%	13.1%	10.6%	9.4%	4.8%	-0.7%	-0.6%	-1.0%	1.8%	2.5%	3.9%	4.9%	8.3%	12.4%	10.4%	14.8%	11.6%	13.3%	12.5%	8.5%	8.48%
ROE 3Y Avg	snapshot only																				8.45%
ROE 5Y Avg	snapshot only																				5.29%
ROA 3Y Avg	snapshot only																				3.72%
ROIC 3Y Avg	snapshot only																				6.38%
ROIC Economic	snapshot only																				7.71%
Cash ROA	snapshot only																				5.56%
Cash ROIC	snapshot only																				7.60%
CROIC	snapshot only																				-1.98%
NOPAT Margin	snapshot only																				9.99%
Pretax Margin	snapshot only																				6.35%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				11.50%
SBC / Revenue	snapshot only																				0.79%

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	-8.22	-16.53	-66.27	282.72	41.35	82.46	52.21	126.31	-140.19	-117.95	590.42	31.72	18.72	10.78	8.16	8.24	7.58	8.50	12.28	11.90	11.246
P/S Ratio	0.77	0.76	0.89	0.58	0.57	0.65	0.53	0.67	0.66	0.62	0.59	0.71	0.73	0.71	0.65	0.67	0.72	0.74	0.92	0.79	0.762
P/B Ratio	1.09	1.07	1.25	0.85	0.87	0.97	0.78	0.99	1.03	0.97	0.97	1.16	1.15	1.15	1.01	1.00	1.04	1.04	1.33	1.14	1.095
P/FCF	8.28	6.97	11.28	9.27	27.79	-11.61	-7.12	-8.41	-11.51	-16.17	-12.74	-11.61	-13.86	-13.11	-10.17	-113.64	-45.31	19.54	23.79	-35.98	-35.983
P/OCF	6.76	5.76	8.45	6.14	11.95	—	—	—	35.85	24.96	15.26	14.62	8.82	5.76	6.28	4.56	6.26	5.54	7.40	9.35	9.355
EV/EBITDA	10.51	10.91	13.12	8.89	10.75	11.76	10.82	12.40	10.85	10.37	9.40	8.66	8.68	8.13	7.54	7.77	7.49	7.40	8.81	7.52	7.524
EV/Revenue	1.20	1.15	1.28	0.99	1.03	1.15	1.08	1.19	1.16	1.12	1.11	1.20	1.23	1.21	1.18	1.16	1.18	1.15	1.35	1.21	1.212
EV/EBIT	32.72	39.30	54.86	23.50	37.07	38.55	34.08	44.14	30.57	20.85	16.94	13.48	13.19	11.97	10.77	11.28	10.54	11.33	13.91	12.00	12.004
EV/FCF	12.88	10.54	16.21	15.80	50.09	-20.63	-14.59	-15.01	-20.30	-29.47	-23.76	-19.61	-23.36	-22.21	-18.37	-196.05	-73.58	30.57	34.86	-54.99	-54.990
Earnings Yield	-12.2%	-6.1%	-1.5%	0.4%	2.4%	1.2%	1.9%	0.8%	-0.7%	-0.8%	0.2%	3.2%	5.3%	9.3%	12.3%	12.1%	13.2%	11.8%	8.1%	8.4%	8.41%
FCF Yield	12.1%	14.3%	8.9%	10.8%	3.6%	-8.6%	-14.1%	-11.9%	-8.7%	-6.2%	-7.8%	-8.6%	-7.2%	-7.6%	-9.8%	-0.9%	-2.2%	5.1%	4.2%	-2.8%	-2.78%
Price/Tangible Book	snapshot only																				1.138
EV/OCF	snapshot only																				14.296
EV/Gross Profit	snapshot only																				2.864
Acquirers Multiple	snapshot only																				12.758
Shareholder Yield	snapshot only																				2.03%
Graham Number	snapshot only																				$53.26

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	2.00	2.02	2.02	1.73	1.78	1.73	1.91	1.83	1.71	1.82	1.73	1.86	1.83	1.90	1.84	1.81	1.91	1.90	2.15	2.26	2.260
Quick Ratio	1.69	1.73	1.73	1.48	1.51	1.44	1.60	1.52	1.42	1.50	1.39	1.53	1.49	1.55	1.47	1.44	1.53	1.54	1.79	1.85	1.849
Debt/Equity	0.89	0.86	0.86	0.92	0.96	0.96	1.07	1.04	1.04	1.02	1.01	1.01	1.01	1.07	1.02	0.98	0.89	0.86	0.94	0.89	0.890
Net Debt/Equity	0.60	0.55	0.55	0.60	0.70	0.75	0.82	0.78	0.78	0.80	0.84	0.80	0.79	0.80	0.82	0.72	0.65	0.58	0.62	0.60	0.601
Debt/Assets	0.40	0.40	0.40	0.40	0.42	0.42	0.45	0.45	0.44	0.43	0.43	0.43	0.43	0.45	0.44	0.42	0.41	0.40	0.42	0.41	0.407
Debt/EBITDA	5.50	5.83	6.29	5.64	6.57	6.56	7.21	7.28	6.26	5.97	5.25	4.46	4.53	4.49	4.21	4.42	3.95	3.94	4.26	3.85	3.850
Net Debt/EBITDA	3.75	3.69	3.99	3.68	4.79	5.14	5.54	5.45	4.70	4.68	4.36	3.54	3.53	3.33	3.37	3.26	2.88	2.67	2.80	2.60	2.601
Interest Coverage	0.94	0.79	0.66	1.19	0.80	1.14	1.23	1.07	1.55	1.69	2.16	3.08	3.31	3.85	4.21	3.93	4.32	3.80	3.36	3.40	3.400
Equity Multiplier	2.22	2.18	2.18	2.32	2.29	2.30	2.38	2.33	2.38	2.35	2.33	2.33	2.32	2.38	2.33	2.32	2.19	2.18	2.27	2.19	2.187
Cash Ratio	snapshot only																				0.943
Debt Service Coverage	snapshot only																				5.423
Cash to Debt	snapshot only																				0.325
FCF to Debt	snapshot only																				-0.036
Defensive Interval	snapshot only																				399.0 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	0.58	0.62	0.61	0.62	0.64	0.65	0.64	0.65	0.68	0.69	0.70	0.72	0.71	0.70	0.71	0.68	0.68	0.67	0.67	0.67	0.670
Inventory Turnover	10.04	11.11	11.10	10.78	11.04	11.11	10.92	10.86	10.81	10.64	10.47	10.27	9.86	9.51	9.07	8.77	8.60	8.91	6.82	6.62	6.617
Receivables Turnover	5.73	5.62	5.60	5.69	5.81	5.60	5.78	5.80	5.85	5.77	6.05	6.27	6.26	6.41	5.91	6.27	6.38	6.95	5.93	6.61	6.613
Payables Turnover	15.36	14.51	14.50	12.44	13.84	11.87	13.23	11.19	12.86	10.89	12.19	12.19	12.24	11.90	10.97	10.85	11.55	12.98	9.71	9.72	9.718
DSO	64	65	65	64	63	65	63	63	62	63	60	58	58	57	62	58	57	52	62	55	55.2 days
DIO	36	33	33	34	33	33	33	34	34	34	35	36	37	38	40	42	42	41	54	55	55.2 days
DPO	24	25	25	29	26	31	28	33	28	34	30	30	30	31	33	34	32	28	38	38	37.6 days
Cash Conversion Cycle	76	73	73	69	70	67	69	64	68	64	65	64	66	65	69	66	68	65	77	73	72.8 days
Fixed Asset Turnover	snapshot only																				1.110
Operating Cycle	snapshot only																				110.4 days
Cash Velocity	snapshot only																				4.969
Capital Intensity	snapshot only																				1.523

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	5.1%	4.2%	3.0%	-0.9%	-1.6%	-0.5%	1.5%	3.5%	6.4%	10.6%	12.7%	15.0%	14.3%	10.3%	7.6%	5.1%	5.3%	4.2%	5.9%	7.1%	7.08%
Net Income	65.4%	-1.2%	71.8%	1.0%	1.1%	1.2%	1.8%	1.7%	-1.4%	-1.7%	-88.8%	3.9%	10.5%	15.0%	84.8%	2.8%	1.6%	36.2%	-0.6%	-12.5%	-12.52%
EPS	64.6%	-1.2%	71.1%	1.0%	1.1%	1.2%	1.8%	1.7%	-1.4%	-1.7%	-89.3%	3.6%	10.2%	14.3%	83.0%	2.8%	1.6%	35.4%	-1.3%	-13.2%	-13.17%
FCF	2.4%	1.8%	13.2%	-41.7%	-78.2%	-1.5%	-1.9%	-2.3%	-4.0%	24.4%	29.1%	11.2%	-5.0%	-57.6%	-48.6%	89.8%	68.0%	1.7%	1.6%	-3.0%	-2.99%
EBITDA	0.1%	-22.8%	-20.5%	10.0%	-17.2%	-7.2%	3.6%	-10.6%	18.6%	22.4%	32.9%	66.1%	51.1%	51.6%	43.1%	13.3%	16.8%	8.9%	3.8%	15.4%	15.44%
Op. Income	-65.4%	71.0%	1.0%	1.2%	1.3%	2.1%	29.3%	86.8%	1.4%	1.3%	1.2%	2.3%	1.4%	1.2%	84.7%	20.9%	31.7%	19.6%	5.8%	5.2%	5.19%
OCF Growth	snapshot only																				-38.49%
Asset Growth	snapshot only																				4.13%
Equity Growth	snapshot only																				10.66%
Debt Growth	snapshot only																				0.60%
Shares Change	snapshot only																				0.75%

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	-4.5%	-3.9%	-3.6%	-2.9%	-2.2%	-1.4%	0.0%	2.1%	3.2%	4.7%	5.6%	5.7%	6.1%	6.6%	7.2%	7.8%	8.6%	8.3%	8.7%	9.0%	8.99%
Revenue 5Y	-4.2%	-3.4%	-2.7%	-2.6%	-2.8%	-3.0%	-2.8%	-2.7%	-1.8%	-0.5%	0.5%	1.7%	2.6%	3.1%	3.9%	5.2%	5.8%	5.7%	6.1%	5.8%	5.83%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.6%	1.0%	1.4%	1.1%	1.5%	1.48%
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-14.8%	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.7%	1.1%	1.4%	1.1%	1.5%	1.54%
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-14.2%	—	—	—
EBITDA 3Y	13.3%	16.4%	40.3%	51.9%	34.9%	43.7%	1.6%	-4.3%	-0.6%	-4.3%	3.1%	17.8%	14.0%	19.8%	25.4%	18.9%	27.9%	26.4%	25.4%	29.5%	29.49%
EBITDA 5Y	0.9%	6.2%	11.8%	16.0%	10.3%	6.3%	6.4%	2.9%	7.4%	12.3%	30.6%	39.1%	34.5%	40.6%	14.8%	10.5%	11.6%	7.7%	10.2%	16.4%	16.40%
Gross Profit 3Y	-1.8%	-2.9%	-2.7%	1.5%	2.2%	5.3%	3.0%	1.4%	4.2%	5.9%	8.7%	16.1%	18.3%	24.3%	26.5%	22.1%	21.2%	13.6%	33.9%	34.1%	34.07%
Gross Profit 5Y	-5.5%	-4.9%	-3.2%	-0.5%	0.1%	1.0%	1.2%	0.2%	3.1%	7.2%	9.3%	12.7%	12.0%	12.6%	11.1%	9.5%	10.4%	6.9%	19.0%	21.3%	21.27%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.9%	94.7%	95.1%	82.7%	61.7%	60.8%	60.81%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3.9%	-6.3%	—	—
OCF 3Y	—	—	—	—	—	—	—	—	-17.5%	-17.9%	-18.7%	-21.6%	-4.7%	4.6%	6.6%	25.1%	45.7%	—	—	—	—
OCF 5Y	26.9%	1.9%	—	—	—	—	—	—	—	—	—	—	—	—	—	—	33.6%	27.9%	14.5%	-1.1%	-1.11%
Assets 3Y	34.0%	-11.7%	33.6%	34.0%	32.0%	-2.3%	36.1%	-5.6%	-5.1%	-0.9%	-1.3%	1.1%	3.9%	5.2%	6.0%	7.5%	8.8%	8.5%	8.2%	7.9%	7.91%
Assets 5Y	13.9%	13.8%	14.0%	14.4%	16.7%	18.0%	19.6%	20.4%	19.5%	-6.1%	20.1%	20.9%	22.2%	1.8%	23.6%	0.3%	0.5%	3.0%	3.8%	4.5%	4.48%
Equity 3Y	21.5%	1.3%	22.1%	20.1%	19.0%	22.7%	21.1%	-7.6%	-7.7%	-2.8%	-2.9%	-0.5%	2.3%	2.2%	3.7%	7.4%	10.5%	10.4%	9.9%	10.2%	10.23%
Book Value 3Y	30.7%	9.6%	32.2%	29.1%	28.7%	31.7%	36.0%	3.7%	-7.2%	-2.1%	-3.3%	-1.4%	1.1%	0.3%	1.7%	6.4%	8.5%	8.0%	7.3%	7.8%	7.78%
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	0.88	0.86	0.82	0.73	0.71	0.70	0.59	0.42	0.25	0.04	0.00	0.11	0.27	0.47	0.67	0.83	0.87	0.91	0.93	0.90	0.904
Earnings Stability	0.06	0.01	0.03	0.09	0.26	0.14	0.27	0.43	0.70	0.28	0.53	0.85	0.87	0.32	0.60	0.78	0.85	0.02	0.87	0.84	0.842
Margin Stability	0.90	0.86	0.85	0.87	0.89	0.86	0.87	0.92	0.90	0.83	0.82	0.80	0.83	0.80	0.81	0.84	0.86	0.91	0.72	0.71	0.711
Rev. Growth Consistency	0.50	0.50	0.50	0.00	0.00	0.00	1.00	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
Earn. Growth Consistency	1.00	0.00	1.00	1.00	1.00	0.50	1.00	1.00	0.00	0.00	0.00	1.00	0.50	0.50	0.50	1.00	1.00	1.00	0.00	0.00	0.000
FCF Positive Streak	0	1	1	1	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	0.50	0.20	0.50	0.20	0.20	0.20	0.20	0.50	0.20	0.20	0.50	0.50	0.20	0.20	0.50	0.50	0.50	0.50	1.00	0.95	0.950
Earnings Smoothness	—	—	—	—	—	—	—	0.09	—	—	0.00	0.00	—	—	0.00	0.00	0.12	0.69	0.99	0.87	0.866
ROE Trend	0.57	1.03	0.79	0.31	0.25	-0.11	0.06	0.09	0.05	0.02	0.00	0.03	0.05	0.10	0.12	0.10	0.11	0.07	0.05	0.02	0.017
Gross Margin Trend	-0.00	-0.03	-0.05	-0.03	-0.01	0.01	0.02	0.02	0.03	0.05	0.06	0.07	0.06	0.05	0.05	0.03	0.03	-0.01	0.15	0.14	0.139
FCF Margin Trend	0.18	0.16	0.12	0.08	0.01	-0.13	-0.15	-0.16	-0.11	-0.06	-0.05	-0.05	-0.03	-0.01	-0.00	0.06	0.04	0.08	0.09	0.01	0.012
Sustainable Growth Rate	—	—	—	0.3%	2.0%	1.1%	1.5%	0.8%	—	—	0.2%	3.7%	6.5%	11.1%	13.2%	13.0%	14.7%	13.2%	11.2%	9.3%	9.34%
Internal Growth Rate	—	—	—	0.1%	0.9%	0.5%	0.6%	0.3%	—	—	0.1%	1.6%	2.8%	4.9%	6.0%	5.9%	7.0%	6.2%	5.1%	4.3%	4.33%

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	-1.22	-2.87	-7.84	46.04	3.46	-0.87	-0.58	-1.81	-3.91	-4.73	38.68	2.17	2.12	1.87	1.30	1.81	1.21	1.54	1.66	1.27	1.272
FCF/OCF	0.82	0.83	0.75	0.66	0.43	8.16	12.61	8.31	-3.12	-1.54	-1.20	-1.26	-0.64	-0.44	-0.62	-0.04	-0.14	0.28	0.31	-0.26	-0.260
FCF/Net Income	snapshot only																				-0.331
OCF/EBITDA	snapshot only																				0.526
CapEx/Revenue	2.1%	2.3%	2.6%	3.2%	2.7%	4.9%	6.8%	7.0%	7.6%	6.3%	8.5%	11.0%	13.5%	17.9%	16.8%	15.3%	13.2%	9.5%	8.6%	10.7%	10.68%
CapEx/Depreciation	snapshot only																				1.777
Accruals Ratio	-0.12	-0.11	-0.07	-0.06	-0.02	0.01	0.01	0.01	-0.02	-0.02	-0.03	-0.02	-0.03	-0.04	-0.02	-0.05	-0.01	-0.03	-0.03	-0.01	-0.012
Sloan Accruals	snapshot only																				0.012
Cash Flow Adequacy	snapshot only																				0.760
Earnings Quality Score	snapshot only																				1.000

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%	0.3%	0.6%	0.93%
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	$0.12	$0.25	$0.38
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%	3.2%	7.1%	7.10%
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—	—	—	—	—	—	—	—	0.0%	6.2%	—	—
Total Payout Ratio	—	—	—	9.4%	73.9%	1.4%	1.0%	1.8%	—	—	2.5%	13.7%	7.4%	4.3%	4.8%	7.2%	6.4%	11.8%	23.9%	24.1%	24.13%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0	0	0
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	4.9%	4.6%	3.9%	3.3%	1.8%	1.6%	2.0%	1.4%	0.4%	0.3%	0.4%	0.4%	0.4%	0.4%	0.6%	0.9%	0.8%	1.4%	1.7%	1.4%	1.43%
Net Buyback Yield	4.9%	4.6%	3.9%	3.3%	1.8%	1.6%	2.0%	1.4%	0.4%	0.3%	0.4%	0.4%	0.4%	0.4%	0.6%	0.9%	0.7%	1.3%	1.5%	1.3%	1.28%
Total Shareholder Return	4.9%	4.6%	3.9%	3.3%	1.8%	1.6%	2.0%	1.4%	0.4%	0.3%	0.4%	0.4%	0.4%	0.4%	0.6%	0.9%	0.7%	1.3%	1.8%	1.9%	1.87%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	1.04	0.83	3.57	0.09	0.61	0.46	0.83	-0.47	1.78	-0.38	0.04	0.36	0.57	0.93	0.89	0.82	0.96	0.85	0.88	1.05	1.049
Interest Burden (EBT/EBIT)	-2.47	-1.89	-0.16	0.55	0.81	0.57	0.38	-0.42	-0.07	0.26	0.39	0.70	0.73	0.71	0.82	0.97	0.89	1.00	0.88	0.63	0.629
EBIT Margin	0.04	0.03	0.02	0.04	0.03	0.03	0.03	0.03	0.04	0.05	0.07	0.09	0.09	0.10	0.11	0.10	0.11	0.10	0.10	0.10	0.101
Asset Turnover	0.58	0.62	0.61	0.62	0.64	0.65	0.64	0.65	0.68	0.69	0.70	0.72	0.71	0.70	0.71	0.68	0.68	0.67	0.67	0.67	0.670
Equity Multiplier	2.20	2.20	2.20	2.27	2.25	2.24	2.28	2.33	2.33	2.33	2.36	2.33	2.35	2.37	2.33	2.33	2.25	2.27	2.30	2.25	2.252

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)	$-3.87	$-1.92	$-0.56	$0.08	$0.57	$0.33	$0.43	$0.23	$-0.20	$-0.24	$0.05	$1.06	$1.85	$3.18	$3.87	$4.00	$4.76	$4.31	$3.82	$3.47	$3.47
Book Value/Share	$29.27	$29.62	$29.62	$27.46	$27.08	$28.11	$28.55	$28.99	$27.47	$29.12	$28.07	$28.82	$30.26	$29.93	$31.20	$33.05	$34.63	$35.37	$35.23	$36.30	$36.78
Tangible Book/Share	$29.27	$29.62	$29.62	$27.46	$27.08	$25.76	$28.55	$28.99	$27.47	$27.40	$28.07	$28.82	$30.26	$28.96	$31.20	$33.05	$34.63	$34.95	$35.23	$36.30	$36.30
Revenue/Share	$41.28	$41.80	$41.58	$40.36	$41.00	$41.90	$42.55	$43.06	$42.79	$45.86	$45.88	$47.17	$47.65	$48.01	$48.34	$49.03	$49.79	$49.75	$50.85	$52.11	$52.81
FCF/Share	$3.84	$4.54	$3.29	$2.53	$0.85	$-2.34	$-3.15	$-3.41	$-2.45	$-1.75	$-2.14	$-2.89	$-2.50	$-2.62	$-3.11	$-0.29	$-0.80	$1.87	$1.97	$-1.15	$-1.16
OCF/Share	$4.71	$5.50	$4.39	$3.81	$1.97	$-0.29	$-0.25	$-0.41	$0.79	$1.13	$1.78	$2.29	$3.93	$5.95	$5.03	$7.23	$5.76	$6.61	$6.34	$4.42	$4.48
Cash/Share	$8.26	$9.35	$9.35	$8.82	$7.02	$5.84	$7.09	$7.55	$7.17	$6.37	$4.81	$6.06	$6.74	$8.31	$6.40	$8.45	$8.38	$9.80	$11.46	$10.49	$10.63
EBITDA/Share	$4.71	$4.39	$4.06	$4.49	$3.94	$4.10	$4.24	$4.13	$4.58	$4.97	$5.40	$6.54	$6.74	$7.15	$7.56	$7.32	$7.82	$7.74	$7.80	$8.39	$8.39
Debt/Share	$25.94	$25.55	$25.55	$25.32	$25.88	$26.91	$30.62	$30.10	$28.69	$29.63	$28.35	$29.18	$30.54	$32.12	$31.88	$32.36	$30.89	$30.47	$33.26	$32.31	$32.31
Net Debt/Share	$17.67	$16.20	$16.20	$16.49	$18.86	$21.06	$23.53	$22.54	$21.52	$23.26	$23.54	$23.12	$23.80	$23.81	$25.48	$23.91	$22.51	$20.67	$21.80	$21.83	$21.83

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.937
Altman Z-Prime	snapshot only																				3.251
Piotroski F-Score	7	6	7	7	7	4	4	5	4	5	6	8	7	7	7	5	8	6	7	6	6
Beneish M-Score	-3.25	-2.91	-2.99	-2.82	-2.62	-2.35	-2.25	-2.38	-2.52	-2.67	-2.57	-2.59	-2.53	-2.77	-2.48	-2.57	-2.53	-2.12	-2.85	-2.35	-2.351
Ohlson O-Score	snapshot only																				-7.310
ROIC (Greenblatt)	snapshot only																				8.63%
Net-Net WC	snapshot only																				$-17.96
EVA	snapshot only																				$-18113141.22

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																				BBB-
Credit Score	39.34	39.55	38.49	37.27	31.78	30.18	30.21	30.01	32.45	33.42	36.51	41.38	40.86	42.56	42.09	43.66	53.00	55.74	54.15	53.53	53.533
Credit Grade	snapshot only																				10
Credit Trend	snapshot only																				9.877
Implied Spread (bps)	snapshot only																				350.000
Industry Credit Rank	snapshot only																				42
Sector Credit Rank	snapshot only																				51

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