$186.17

-5.92 (-3.08%)

After Hours: $184.11 (-2.06, -1.11%)

Weekly Expected Move ±4.3%

$180 $189 $197 $206 $215

NYSE · Technology · Software - Infrastructure · Tech Score Buy · Power 65 · $6.5B mcap · 30M float · 2.12% daily turnover · Short 71% of daily vol

Credit Risk of going bust: higher than 65% of companies Debt: 45.0% of company value Bonds: $54.7M held by 111 funds, 204 bp over Treasuries → details ▾

Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $13.44 (down 93%), WEX Inc. would be worth roughly what it owes.
Total debt $5.36B against a stock market value of $6.55B.
Distance to default 3.81 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $3.60B (short-term plus half of long-term), stock volatility 41.2%; Altman Z'' 1.09. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

46.1 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 85.7% · 5Y Avg: 26.4%

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. WEX shows a Weak competitive edge (46.1/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Efficient Scale. ROIC of 85.7% confirms the company is generating returns well above its cost of capital — a hallmark of durable competitive advantages.

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

$178

Low

$196

Avg Target

$209

High

Based on 3 analysts since Jul 22, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 14Hold: 18Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$209.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-09-10	Piper Sandler	—	Initiated	$209	—	+10.0%	$190.03
2026-07-27	Cantor Fitzgerald	Ramsey El-Assal	$152	$178	+26	+0.9%	$176.46
2026-07-24	Mizuho Securities	—	$170	$200	+30	+16.8%	$171.30
2026-07-21	Morgan Stanley	Michael N Infante	$158	$172	+14	+5.2%	$163.49
2026-06-29	Cantor Fitzgerald	—	$158	$152	-6	+10.1%	$138.01
2026-06-12	Deutsche Bank	—	$235	$160	-75	+17.3%	$136.36
2026-04-27	Loop Capital Markets	—	Initiated	$195	—	+30.8%	$149.10
2026-04-23	Robert W. Baird	—	$210	$220	+10	+19.0%	$184.93
2026-04-21	Morgan Stanley	—	$146	$158	+12	-10.8%	$177.13
2026-02-06	Morgan Stanley	Michael Infante	$144	$146	+2	-6.5%	$156.17
2026-02-06	UBS	Nik Cremo	$172	$165	-7	+7.5%	$153.51
2026-02-06	Mizuho Securities	—	$206	$170	-36	+14.4%	$148.54
2026-02-02	Morgan Stanley	Michael Infante	Initiated	$144	—	-6.4%	$153.90
2026-01-26	Cantor Fitzgerald	—	Initiated	$158	—	-0.6%	$158.94
2025-10-31	UBS	—	Initiated	$172	—	+15.6%	$148.74
2025-10-01	Robert W. Baird	David Koning	$186	$210	+24	+33.3%	$157.53
2025-02-18	Robert W. Baird	—	$285	$186	-99	+16.7%	$159.37
2024-12-17	Barclays	Ramsey El-Assal	$211	$200	-11	+11.8%	$178.94
2024-10-15	Bank of America Securities	Mihir Bhatia	Initiated	$255	—	+18.8%	$214.57
2024-07-29	Mizuho Securities	Dan Dolev	$220	$206	-14	+10.3%	$186.70
2024-04-17	Deutsche Bank	Nate Svensson	Initiated	$235	—	+0.6%	$233.52
2024-04-15	Robert W. Baird	David Koning	Initiated	$285	—	+20.8%	$235.88
2024-04-12	Williams Trading	Trevor Williams	Initiated	$240	—	+0.4%	$239.12
2022-10-31	Credit Suisse	Nik Cremo	Initiated	$195	—	+18.8%	$164.19
2022-09-15	Barclays	—	$220	$211	-9	+37.4%	$153.58
2022-09-08	Wells Fargo	—	Initiated	$194	—	+28.0%	$151.59
2022-08-01	Barclays	—	$217	$220	+3	+32.4%	$166.21
2022-08-01	Mizuho Securities	Dan Dolev	$212	$220	+8	+32.4%	$166.21
2022-07-29	Truist Financial	—	Initiated	$185	—	+11.5%	$165.91
2022-07-27	Mizuho Securities	—	$235	$212	-23	+25.5%	$168.90
2022-07-19	Barclays	—	Initiated	$217	—	+35.2%	$160.46
2022-05-02	Mizuho Securities	—	Initiated	$235	—	+48.9%	$157.80
2022-01-19	Cowen & Co.	Georgios Mihalos	Initiated	$217	—	+41.2%	$153.64
2022-01-02	Citigroup	Peter Christiansen	Initiated	$155	—	+7.9%	$143.60
2021-04-29	Susquehanna	John Coffey	Initiated	$260	—	+26.7%	$205.21

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 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. WEX receives an overall rating of B. Strongest factors: ROE (5/5). Areas of concern: ROA (2/5), D/E (1/5).

Rating Change History

Date	From	To
2026-10-12	B+	B
2026-04-23	B	B+
2026-04-17	B+	B
2026-04-16	B	B+
2026-04-13	B+	B
2026-04-06	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.

★ ★ ★ ★ ★ 34 Grade D

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. WEX scores highest in Momentum (67/100) and lowest in Safety (15/100). 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

0.76

Distress Zone

Piotroski F-Score

6/9

✓ ✓ ✓ ✗ ✓ ✓ ✗ ✗ ✓

Beneish M-Score

-2.26

Unlikely Manipulator

Ohlson O-Score

-5.45

Bankruptcy prob: 0.4%

Low Risk

Credit Rating

B+

Score: 32.4/100

Trend: Improving

Earnings Quality

50/100

OCF/NI: 0.75x

Accruals: 0.6%

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. WEX scores 0.76, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. WEX 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. WEX's score of -2.26 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. WEX's implied 0.4% 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. WEX receives an estimated rating of B+ (score: 32.4/100), 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). WEX's score of 50/100 is moderate — some divergence between reported earnings and underlying cash flows.

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

18.39x

PEG

0.68x

P/S

2.28x

P/B

4.83x

P/FCF

45.38x

P/OCF

18.73x

EV/EBITDA

4.18x

EV/Revenue

1.50x

EV/EBIT

5.85x

EV/FCF

38.52x

Earnings Yield

7.12%

FCF Yield

2.20%

Shareholder Yield

1.30%

Graham Number

$93.35

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 18.4x earnings, WEX trades at a reasonable valuation. An earnings yield of 7.1% exceeds typical risk-free rates, suggesting equities are being compensated for risk. Graham's intrinsic value formula yields $93.35 per share, 106% 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

0.723

NI / EBT

Interest Burden

0.679

EBT / EBIT

EBIT Margin

0.256

EBIT / Rev

Asset Turnover

0.179

Rev / Assets

Equity Multiplier

13.417

Assets / Equity

ROE

30.2%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. WEX's ROE of 30.2% is driven by financial leverage (equity multiplier: 13.42x). Note: high leverage means ROE is amplified by debt rather than operational performance.

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

$386.99

Price/Value

0.36x

Margin of Safety

63.54%

Premium

-63.54%

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 WEX's realized 15.0% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. WEX actually compounded EPS at 28.0% 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. WEX trades at a -64% premium to its adjusted intrinsic value of $386.99, 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 18.4x.

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

$192.07

Median 1Y

$172.36

5th Pctile

$80.73

95th Pctile

$368.12

Ann. Volatility

45.4%

Analyst Target

$209.00

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
Melissa Smith Chair, CEO, and President	$955,769	$10,529,340	$12,594,328
Jagtar Narula Financial ancial Officer	$520,192	$3,153,783	$4,075,475
Sachin Dhawan Technology nology Officer	$525,000	$2,759,565	$3,643,384
Robert Deshaies Operating rating Officer, Benefits	$610,000	$2,539,411	$3,572,704
Karen Stroup Digital igital Officer	$515,000	$2,683,872	$3,555,817

CEO Pay Ratio

116:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $12,594,328

Avg Employee Cost (SGA/emp): $108,667

Employees: 6,600

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

6,600

+1.5% YoY

Revenue / Employee

$403,152

Rev: $2,660,800,000

Profit / Employee

$46,076

NI: $304,100,000

SGA / Employee

$108,667

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	-11.3%	0.0%	6.6%	10.7%	5.8%	11.6%	8.2%	11.6%	16.3%	15.4%	15.3%	13.9%	19.6%	18.7%	24.4%	22.2%	20.3%	22.3%	29.8%	30.2%	30.20%
ROA	-2.5%	0.0%	1.3%	1.8%	0.9%	1.8%	1.2%	1.6%	2.1%	2.1%	1.9%	1.8%	2.4%	2.3%	2.2%	2.1%	2.0%	2.2%	2.1%	2.3%	2.25%
ROIC	0.7%	8.8%	8.1%	11.2%	10.1%	25.2%	27.1%	23.7%	26.3%	27.7%	25.5%	23.6%	25.5%	32.3%	25.6%	32.7%	39.6%	56.3%	8.3%	85.7%	85.66%
ROCE	0.3%	5.6%	7.2%	8.0%	6.6%	7.5%	7.3%	9.2%	11.3%	11.2%	11.0%	11.7%	13.5%	13.1%	12.6%	12.5%	12.2%	12.9%	12.9%	13.8%	13.76%
Gross Margin	62.7%	61.3%	60.9%	62.5%	59.1%	59.3%	59.6%	62.2%	63.9%	61.4%	59.1%	60.8%	62.5%	59.5%	57.6%	58.6%	60.3%	54.4%	56.3%	55.8%	55.77%
Operating Margin	20.9%	21.8%	23.6%	28.6%	3.5%	25.1%	25.2%	25.7%	26.8%	23.9%	25.2%	25.0%	29.5%	24.7%	24.7%	23.8%	26.5%	24.8%	23.5%	27.0%	26.97%
Net Margin	10.0%	-2.4%	23.7%	5.7%	-7.2%	14.3%	11.1%	15.3%	2.8%	12.8%	10.1%	11.4%	15.5%	10.0%	11.2%	10.3%	11.6%	12.5%	11.5%	14.4%	14.40%
EBITDA Margin	35.7%	40.7%	43.9%	24.4%	9.3%	36.4%	35.6%	36.2%	25.6%	40.0%	35.0%	36.5%	42.2%	34.5%	36.9%	36.7%	31.7%	37.3%	36.2%	38.0%	37.98%
FCF Margin	-0.2%	3.6%	5.6%	1.7%	15.1%	16.5%	23.5%	24.7%	9.0%	29.8%	22.4%	18.6%	16.9%	12.5%	-0.5%	10.4%	24.5%	11.2%	17.0%	3.9%	3.89%
OCF Margin	4.1%	8.3%	10.3%	6.2%	20.0%	21.5%	28.7%	30.4%	14.7%	35.6%	28.1%	24.5%	22.8%	18.3%	5.9%	16.3%	30.4%	17.1%	22.4%	9.4%	9.42%
ROE 3Y Avg	snapshot only																				23.73%
ROE 5Y Avg	snapshot only																				18.72%
ROA 3Y Avg	snapshot only																				1.98%
ROIC Economic	snapshot only																				7.74%
Cash ROA	snapshot only																				1.59%
Cash ROIC	snapshot only																				43.80%
CROIC	snapshot only																				18.08%
NOPAT Margin	snapshot only																				18.41%
Pretax Margin	snapshot only																				17.39%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				28.58%
SBC / Revenue	snapshot only																				1.20%

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	-35.88	45990.53	64.47	36.25	55.57	35.72	54.66	38.01	30.19	31.23	38.09	30.23	25.88	22.65	19.62	16.49	19.32	17.14	17.26	14.04	18.388
P/S Ratio	4.55	3.40	4.13	3.35	2.52	3.06	3.28	3.20	3.26	3.27	3.89	2.82	3.22	2.67	2.37	1.94	2.09	1.96	1.99	1.76	2.283
P/B Ratio	4.32	3.43	4.20	3.86	3.44	4.36	4.80	4.47	4.81	4.57	5.67	4.17	5.10	4.71	7.63	5.16	4.90	4.22	4.20	3.66	4.826
P/FCF	-1947.13	93.38	73.46	200.22	16.68	18.52	13.98	12.96	36.25	10.96	17.35	15.15	19.05	21.32	-498.92	18.76	8.53	17.43	11.65	45.38	45.383
P/OCF	110.45	41.04	40.04	54.08	12.59	14.25	11.44	10.53	22.14	9.17	13.84	11.48	14.15	14.57	40.41	11.90	6.87	11.48	8.85	18.73	18.730
EV/EBITDA	36.69	11.64	13.33	10.79	9.92	10.30	11.67	10.46	9.81	9.37	11.49	8.43	8.70	7.28	7.47	5.70	6.07	5.10	10.31	4.18	4.178
EV/Revenue	5.95	3.81	4.84	3.85	2.82	2.87	3.08	3.07	3.27	3.22	3.93	2.89	3.34	2.70	2.81	2.15	2.12	1.82	3.66	1.50	1.497
EV/EBIT	691.27	21.19	21.61	16.93	17.25	17.25	19.74	16.50	14.43	13.69	17.02	12.61	12.57	10.86	11.16	8.59	8.83	7.31	14.72	5.85	5.846
EV/FCF	-2545.70	104.38	85.95	230.37	18.64	17.36	13.14	12.43	36.36	10.79	17.54	15.56	19.76	21.57	-591.33	20.72	8.66	16.16	21.47	38.52	38.522
Earnings Yield	-2.8%	0.0%	1.6%	2.8%	1.8%	2.8%	1.8%	2.6%	3.3%	3.2%	2.6%	3.3%	3.9%	4.4%	5.1%	6.1%	5.2%	5.8%	5.8%	7.1%	7.12%
FCF Yield	-0.1%	1.1%	1.4%	0.5%	6.0%	5.4%	7.2%	7.7%	2.8%	9.1%	5.8%	6.6%	5.3%	4.7%	-0.2%	5.3%	11.7%	5.7%	8.6%	2.2%	2.20%
PEG Ratio	snapshot only																				0.678
EV/OCF	snapshot only																				15.898
EV/Gross Profit	snapshot only																				2.640
Acquirers Multiple	snapshot only																				5.874
Shareholder Yield	snapshot only																				1.30%
Graham Number	snapshot only																				$93.35

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	1.23	1.20	1.21	1.16	1.12	1.08	1.07	1.04	1.03	1.05	1.06	1.03	1.04	1.02	1.05	1.04	1.05	1.05	1.05	1.04	1.045
Quick Ratio	1.23	1.20	1.21	1.16	1.12	1.08	1.07	1.04	1.03	1.05	1.06	1.03	1.04	1.02	1.05	1.04	1.05	1.05	0.59	1.04	1.045
Debt/Equity	1.62	1.60	1.52	1.62	1.72	1.70	1.75	1.82	2.13	2.12	2.36	2.36	2.73	2.99	6.89	5.56	4.49	3.94	4.11	3.98	3.984
Net Debt/Equity	1.33	0.40	0.71	0.58	0.41	-0.27	-0.29	-0.18	0.01	-0.07	0.06	0.11	0.19	0.06	1.41	0.54	0.07	-0.31	3.54	-0.55	-0.554
Debt/Assets	0.31	0.29	0.26	0.24	0.24	0.24	0.23	0.24	0.26	0.28	0.29	0.30	0.33	0.33	0.40	0.37	0.35	0.34	0.34	0.32	0.325
Debt/EBITDA	10.50	4.87	4.13	3.93	4.43	4.29	4.52	4.44	4.32	4.42	4.73	4.64	4.49	4.56	5.69	5.56	5.48	5.13	5.47	5.36	5.355
Net Debt/EBITDA	8.63	1.23	1.94	1.41	1.05	-0.69	-0.74	-0.44	0.03	-0.15	0.12	0.22	0.31	0.09	1.17	0.54	0.09	-0.40	4.72	-0.74	-0.744
Interest Coverage	0.10	2.59	3.51	3.84	2.89	2.99	2.48	2.83	3.11	2.60	2.52	2.36	2.71	2.77	2.87	2.78	2.63	2.75	2.78	3.13	3.130
Equity Multiplier	5.16	5.61	5.88	6.78	7.30	6.99	7.62	7.55	8.19	7.63	8.11	7.99	8.32	8.95	17.23	14.99	12.91	11.66	12.10	12.27	12.270
Cash Ratio	snapshot only																				0.540
Debt Service Coverage	snapshot only																				4.380
Cash to Debt	snapshot only																				1.139
FCF to Debt	snapshot only																				0.020
Defensive Interval	snapshot only																				4547.9 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	0.20	0.20	0.20	0.19	0.21	0.22	0.20	0.19	0.19	0.20	0.19	0.19	0.19	0.19	0.18	0.18	0.18	0.19	0.18	0.18	0.179
Inventory Turnover	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.49	—	—
Receivables Turnover (trade)	0.67	0.76	0.61	0.56	0.63	0.76	0.67	0.60	0.62	0.76	0.71	0.70	0.68	0.82	0.69	0.66	0.69	0.84	0.66	0.64	0.643
Payables Turnover	0.62	0.92	0.53	0.50	0.61	0.88	0.62	0.57	0.59	0.76	0.61	0.63	0.67	0.91	0.65	0.66	0.76	1.11	0.75	0.76	0.756
DSO (trade)	542	483	594	651	575	481	542	609	585	482	512	524	538	448	533	554	528	437	549	568	567.8 days
DIO	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	745	0	0.0 days
DPO	588	397	693	732	597	413	589	641	622	478	598	579	547	400	559	550	480	329	489	483	482.8 days
Cash Conversion Cycle (trade)	-46	86	-100	-81	-22	68	-47	-32	-37	4	-87	-54	-10	47	-26	4	48	108	805	85	85.0 days
Fixed Asset Turnover	snapshot only																				10.784
Cash Velocity	snapshot only																				0.458
Capital Intensity	snapshot only																				5.909

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	9.4%	18.6%	27.2%	26.9%	27.2%	27.0%	24.9%	17.7%	12.3%	8.4%	5.9%	7.0%	6.1%	3.1%	0.9%	-1.6%	-1.1%	1.2%	3.3%	7.5%	7.46%
Net Income	-5.9%	1.0%	1.5%	1.6%	1.5%	1469.7%	16.9%	7.5%	1.7%	32.3%	80.2%	18.4%	22.3%	16.1%	19.3%	24.5%	-14.2%	-1.7%	-1.6%	14.5%	14.49%
EPS	-5.8%	1.0%	1.5%	1.6%	1.5%	1499.8%	21.6%	11.6%	1.7%	36.0%	85.3%	22.3%	30.1%	24.3%	28.3%	52.0%	0.6%	12.3%	10.8%	12.9%	12.85%
FCF	-1.0%	-91.3%	-50.4%	1.5%	83.2%	4.8%	4.2%	16.4%	-33.1%	95.5%	1.2%	-19.5%	99.5%	-56.7%	-1.0%	-45.2%	43.0%	-9.1%	38.1%	-59.7%	-59.71%
EBITDA	-32.7%	4.1%	3.4%	3.1%	1.2%	8.3%	-9.1%	-3.0%	32.0%	33.6%	37.1%	25.0%	22.3%	11.4%	10.8%	7.9%	-10.2%	-2.8%	-2.5%	2.3%	2.28%
Op. Income	-82.6%	4.7%	4.6%	9.0%	10.6%	37.4%	21.3%	-2.5%	52.2%	37.7%	31.0%	35.9%	6.8%	6.1%	3.3%	0.3%	-4.7%	-3.2%	-2.0%	6.6%	6.56%
OCF Growth	snapshot only																				-38.10%
Asset Growth	snapshot only																				12.44%
Equity Growth	snapshot only																				37.39%
Debt Growth	snapshot only																				-1.55%
Shares Change	snapshot only																				1.45%

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	6.7%	7.4%	8.7%	9.5%	10.2%	10.9%	11.3%	13.7%	16.1%	17.8%	18.9%	16.9%	14.9%	12.4%	10.1%	7.4%	5.6%	4.2%	3.3%	4.2%	4.20%
Revenue 5Y	13.3%	12.7%	12.1%	12.3%	13.0%	13.5%	13.2%	12.3%	11.7%	11.2%	11.2%	10.6%	9.7%	8.8%	8.1%	9.1%	10.4%	11.3%	11.9%	11.1%	11.07%
EPS 3Y	—	-90.8%	-3.5%	19.7%	14.0%	26.7%	29.9%	18.7%	82.9%	—	—	—	—	12.6%	42.5%	27.6%	52.8%	23.8%	38.1%	28.0%	28.03%
EPS 5Y	—	-70.7%	12.3%	20.9%	2.8%	4.2%	-4.4%	0.4%	3.7%	9.8%	15.1%	18.5%	39.3%	28.0%	39.1%	25.5%	51.6%	—	—	—	—
Net Income 3Y	—	-90.7%	-2.2%	20.8%	14.3%	26.7%	30.1%	18.3%	81.8%	—	—	—	—	12.1%	35.9%	16.6%	41.1%	14.7%	28.4%	19.1%	19.05%
Net Income 5Y	—	-70.4%	13.4%	22.0%	3.3%	4.7%	-4.3%	0.4%	3.6%	9.4%	14.5%	17.6%	37.4%	25.6%	36.5%	19.6%	44.5%	—	—	—	—
EBITDA 3Y	-20.3%	3.3%	12.0%	13.1%	6.4%	3.6%	4.7%	12.4%	25.5%	95.1%	76.7%	70.7%	53.1%	17.2%	11.4%	9.4%	13.2%	13.1%	14.0%	11.3%	11.32%
EBITDA 5Y	-2.5%	12.1%	13.2%	12.3%	7.5%	6.0%	4.5%	6.1%	8.3%	9.8%	11.9%	11.9%	14.3%	10.6%	11.8%	13.9%	16.8%	51.7%	42.9%	40.6%	40.56%
Gross Profit 3Y	7.1%	6.6%	8.4%	9.2%	8.9%	10.1%	10.8%	14.6%	18.7%	21.1%	21.3%	17.6%	14.7%	11.5%	9.1%	6.1%	4.5%	2.7%	1.8%	2.2%	2.23%
Gross Profit 5Y	18.2%	17.5%	15.5%	14.8%	14.3%	14.8%	14.0%	12.5%	11.9%	10.7%	10.9%	10.2%	9.0%	8.4%	7.8%	9.5%	11.1%	11.6%	11.6%	9.7%	9.70%
Op. Income 3Y	-53.1%	-3.9%	3.7%	11.3%	3.6%	6.8%	8.6%	14.6%	45.4%	—	—	—	1.7%	26.1%	18.0%	9.9%	15.7%	12.2%	9.8%	13.2%	13.23%
Op. Income 5Y	-28.6%	11.9%	14.0%	19.0%	14.0%	14.4%	13.8%	9.2%	12.7%	10.9%	12.1%	12.8%	12.6%	12.2%	11.6%	15.4%	25.6%	—	—	—	—
FCF 3Y	—	-40.0%	-27.1%	-57.5%	2.8%	-11.5%	-11.9%	-20.5%	-41.9%	-0.8%	37.7%	—	—	69.6%	—	97.4%	24.0%	-8.4%	-7.1%	-43.8%	-43.76%
FCF 5Y	—	—	—	—	—	48.6%	22.8%	53.9%	-4.6%	19.4%	15.3%	1.5%	7.7%	-10.1%	—	-26.0%	-11.0%	-17.4%	15.6%	—	—
OCF 3Y	-41.6%	-27.3%	-19.3%	-38.5%	1.8%	-8.7%	-9.1%	-16.9%	-33.1%	1.9%	34.3%	3.0%	1.0%	46.4%	-8.8%	48.5%	21.4%	-3.5%	-4.8%	-29.5%	-29.50%
OCF 5Y	-9.1%	—	—	—	—	30.6%	20.4%	38.5%	0.4%	17.8%	13.6%	3.1%	7.4%	-6.2%	-30.3%	-20.2%	-8.3%	-11.9%	15.0%	92.6%	92.57%
Assets 3Y	9.9%	15.0%	12.5%	12.9%	11.7%	11.6%	18.2%	19.1%	18.7%	19.3%	20.1%	15.6%	13.6%	8.9%	7.2%	6.0%	6.6%	7.7%	6.6%	7.3%	7.32%
Assets 5Y	8.3%	11.1%	12.9%	14.2%	12.7%	11.3%	13.5%	13.9%	14.2%	15.4%	12.6%	10.7%	10.3%	9.9%	12.6%	13.2%	11.7%	12.0%	13.2%	12.3%	12.32%
Equity 3Y	0.1%	1.0%	2.2%	-0.3%	-4.0%	-5.0%	-3.6%	-3.6%	-6.6%	-1.5%	-1.8%	-0.2%	-3.1%	-6.8%	-25.1%	-18.6%	-11.8%	-9.2%	-8.6%	-8.7%	-8.73%
Book Value 3Y	-1.2%	-0.0%	0.8%	-1.3%	-4.3%	-5.1%	-3.8%	-3.4%	-6.1%	-0.4%	-0.3%	1.9%	0.3%	-3.1%	-21.5%	-11.0%	-4.5%	-2.0%	-1.7%	-1.9%	-1.86%
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	0.87	0.84	0.79	0.88	0.86	0.82	0.78	0.87	0.88	0.86	0.85	0.89	0.90	0.90	0.90	0.92	0.90	0.86	0.82	0.85	0.847
Earnings Stability	0.42	0.31	0.13	0.07	0.22	0.04	0.03	0.00	0.00	0.09	0.16	0.13	0.40	0.53	0.58	0.37	0.60	0.82	0.78	0.66	0.659
Margin Stability	0.91	0.91	0.94	0.95	0.96	0.96	0.97	0.98	0.97	0.96	0.97	0.98	0.99	0.99	0.99	0.98	0.97	0.97	0.97	0.97	0.971
Rev. Growth Consistency	0.50	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	1.00	0.00	0.00	1.00	1.00	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	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	1.00	1.000
FCF Positive Streak	0	1	1	0	0	1	1	1	1	1	1	1	1	1	0	1	1	1	0	1	1
Earnings Persistence	0.20	0.20	0.20	0.20	0.20	0.50	0.50	0.50	0.50	0.87	0.50	0.93	0.91	0.94	0.92	0.90	0.94	0.99	0.99	0.94	0.942
Earnings Smoothness	—	—	—	—	—	0.00	0.84	0.93	0.09	0.72	0.43	0.83	0.80	0.85	0.82	0.78	0.85	0.98	0.98	0.86	0.865
ROE Trend	-0.15	0.04	0.11	0.17	0.11	0.19	0.12	0.16	0.19	0.09	0.07	0.03	0.09	0.07	0.27	0.19	0.08	0.07	-0.03	0.04	0.035
Gross Margin Trend	0.01	0.03	0.02	0.02	0.02	0.01	0.00	-0.01	0.00	0.01	0.01	0.00	-0.00	-0.01	-0.01	-0.01	-0.02	-0.03	-0.03	-0.04	-0.037
FCF Margin Trend	-0.45	-0.38	-0.25	-0.32	-0.21	-0.10	0.13	0.26	0.02	0.20	0.08	0.05	0.05	-0.11	-0.23	-0.11	0.12	-0.10	0.06	-0.11	-0.106
Sustainable Growth Rate	—	0.0%	6.6%	10.7%	5.8%	11.6%	8.2%	11.6%	16.3%	15.4%	15.3%	13.9%	19.6%	18.7%	24.4%	22.2%	20.3%	22.3%	29.8%	30.2%	30.20%
Internal Growth Rate	—	0.0%	1.3%	1.8%	1.0%	1.9%	1.2%	1.6%	2.1%	2.1%	2.0%	1.8%	2.4%	2.3%	2.3%	2.2%	2.0%	2.2%	2.2%	2.3%	2.30%

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	-0.32	1120.55	1.61	0.67	4.41	2.51	4.78	3.61	1.36	3.41	2.75	2.63	1.83	1.55	0.49	1.39	2.81	1.49	1.95	0.75	0.749
FCF/OCF	-0.06	0.44	0.54	0.27	0.75	0.77	0.82	0.81	0.61	0.84	0.80	0.76	0.74	0.68	-0.08	0.63	0.81	0.66	0.76	0.41	0.413
FCF/Net Income	snapshot only																				0.309
OCF/EBITDA	snapshot only																				0.263
CapEx/Revenue	4.4%	4.6%	4.7%	4.5%	4.9%	4.9%	5.2%	5.7%	5.7%	5.8%	5.7%	5.9%	5.9%	5.8%	6.3%	6.0%	5.9%	5.8%	5.4%	5.5%	5.53%
CapEx/Depreciation	snapshot only																				0.541
Accruals Ratio	-0.03	-0.02	-0.01	0.01	-0.03	-0.03	-0.05	-0.04	-0.01	-0.05	-0.03	-0.03	-0.02	-0.01	0.01	-0.01	-0.04	-0.01	-0.02	0.01	0.006
Sloan Accruals	snapshot only																				-0.012
Cash Flow Adequacy	snapshot only																				1.703
Earnings Quality Score	snapshot only																				0.500

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%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
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%	0.00%
Total Payout Ratio	—	0.0%	0.0%	41.7%	1.5%	1.4%	2.6%	1.5%	1.1%	1.1%	1.0%	1.5%	2.1%	2.1%	4.3%	4.2%	3.2%	2.6%	3.2%	18.2%	18.22%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	1.1%	2.7%	3.9%	4.8%	3.9%	3.5%	3.6%	2.7%	5.0%	8.1%	9.3%	22.1%	25.3%	16.6%	15.3%	0.2%	1.3%	1.30%
Net Buyback Yield	-0.6%	-0.7%	-0.3%	1.1%	2.6%	3.9%	4.8%	3.9%	3.5%	3.6%	2.7%	5.0%	8.1%	9.1%	21.8%	25.0%	16.3%	15.3%	0.2%	1.3%	1.30%
Total Shareholder Return	-0.6%	-0.7%	-0.3%	1.1%	2.6%	3.9%	4.8%	3.9%	3.5%	3.6%	2.7%	5.0%	8.1%	9.1%	21.8%	25.0%	16.3%	15.3%	0.2%	1.3%	1.30%

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)	1.61	0.00	0.40	0.55	0.42	0.77	0.64	0.70	0.70	0.72	0.73	0.71	0.74	0.74	0.74	0.74	0.73	0.72	0.72	0.72	0.723
Interest Burden (EBT/EBIT)	-9.18	0.61	0.72	0.74	0.65	0.67	0.60	0.65	0.68	0.62	0.60	0.58	0.63	0.64	0.65	0.64	0.62	0.64	0.64	0.68	0.679
EBIT Margin	0.01	0.18	0.22	0.23	0.16	0.17	0.16	0.19	0.23	0.24	0.23	0.23	0.27	0.25	0.25	0.25	0.24	0.25	0.25	0.26	0.256
Asset Turnover	0.20	0.20	0.20	0.19	0.21	0.22	0.20	0.19	0.19	0.20	0.19	0.19	0.19	0.19	0.18	0.18	0.18	0.19	0.18	0.18	0.179
Equity Multiplier	4.54	4.94	5.17	5.97	6.16	6.26	6.69	7.16	7.76	7.32	7.87	7.77	8.26	8.22	10.97	10.47	10.16	10.18	14.10	13.42	13.417

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)	$-4.91	$0.00	$2.77	$4.29	$2.28	$4.58	$3.36	$4.79	$6.23	$6.23	$6.24	$5.86	$8.10	$7.74	$8.00	$8.91	$8.16	$8.69	$8.87	$10.05	$10.05
Book Value/Share	$40.73	$40.97	$42.49	$40.29	$36.88	$37.51	$38.31	$40.75	$39.09	$42.54	$41.93	$42.46	$41.12	$37.22	$20.57	$28.45	$32.14	$35.27	$36.41	$38.53	$38.75
Tangible Book/Share	$-60.78	$-60.44	$-57.11	$-57.95	$-58.46	$-58.05	$-57.19	$-54.22	$-58.62	$-62.00	$-62.08	$-61.54	$-65.23	$-68.86	$-86.50	$-93.49	$-87.02	$-81.97	$-81.35	$-78.28	$-78.28
Revenue/Share	$38.69	$41.23	$43.17	$46.50	$50.40	$53.44	$56.08	$56.87	$57.68	$59.53	$61.05	$62.88	$65.07	$65.70	$66.30	$75.53	$75.42	$76.03	$77.09	$80.00	$80.46
FCF/Share	$-0.09	$1.50	$2.43	$0.78	$7.61	$8.84	$13.16	$14.05	$5.19	$17.75	$13.69	$11.69	$11.01	$8.22	$-0.31	$7.83	$18.47	$8.55	$13.13	$3.11	$3.13
OCF/Share	$1.59	$3.42	$4.46	$2.88	$10.08	$11.48	$16.07	$17.29	$8.50	$21.21	$17.16	$15.43	$14.83	$12.03	$3.89	$12.35	$22.93	$12.98	$17.29	$7.53	$7.58
Cash/Share	$11.79	$49.14	$34.30	$41.73	$48.36	$74.07	$77.99	$81.62	$82.56	$93.41	$96.33	$95.36	$104.36	$109.01	$112.66	$142.87	$142.01	$149.68	$20.75	$174.83	$175.84
EBITDA/Share	$6.28	$13.48	$15.67	$16.58	$14.30	$14.90	$14.82	$16.71	$19.23	$20.45	$20.89	$21.58	$25.02	$24.38	$24.91	$28.43	$26.33	$27.08	$27.33	$28.66	$28.66
Debt/Share	$65.94	$65.68	$64.64	$65.16	$63.33	$63.83	$67.01	$74.24	$83.12	$90.39	$98.93	$100.20	$112.22	$111.14	$141.74	$158.19	$144.42	$138.81	$149.63	$153.50	$153.50
Net Debt/Share	$54.15	$16.54	$30.34	$23.43	$14.97	$-10.24	$-10.97	$-7.38	$0.56	$-3.02	$2.59	$4.84	$7.86	$2.13	$29.08	$15.31	$2.41	$-10.87	$128.88	$-21.33	$-21.33

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	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0.761
Altman Z-Prime	snapshot only																				1.338
Piotroski F-Score	5	7	7	5	7	7	7	6	7	6	5	6	7	6	5	6	5	5	6	6	6
Beneish M-Score	-2.24	-2.15	-2.02	-1.96	-2.33	-2.46	-2.77	-2.90	-2.57	-2.70	-2.50	-2.50	-2.59	-2.66	-2.43	-2.51	-2.64	-2.37	-2.45	-2.26	-2.265
Ohlson O-Score	snapshot only																				-5.445
Net-Net WC	snapshot only																				$-95.95
EVA	snapshot only																				$454108800.99

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																				B+
Credit Score	18.69	29.30	33.86	35.16	33.35	34.83	34.28	34.69	36.51	34.50	33.36	34.34	32.41	32.80	26.59	27.42	30.91	30.18	26.55	32.38	32.381
Credit Grade	snapshot only																				14
Credit Trend	snapshot only																				4.965
Implied Spread (bps)	snapshot only																				650.000
Industry Credit Rank	snapshot only																				24
Sector Credit Rank	snapshot only																				16

WEX NYSE

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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