$48.00

+0.42 (+0.88%)

Weekly Expected Move ±5.9%

$42 $45 $48 $51 $54

NYSE · Industrials · Industrial - Pollution & Treatment Controls · Alpha Radar Sell · Power 39 · $8.0B mcap · 148M float · 0.704% daily turnover · Short 37% 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.

NARROW EDGE

57.9 / 100

NoneWeakNarrowWide

Primary source: Efficient Scale · ROIC: 12.2% · 5Y Avg: -12.6%

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. ZWS has a Narrow competitive edge (57.9/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Efficient Scale. ROIC of 12.2% 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

$53

Low

$56

Avg Target

$58

High

Based on 3 analysts since Apr 21, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 3Hold: 5Sell: 0Strong Sell: 0

Rating Summary

ConsensusHold

Avg Target$55.00

Analysts4

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-04-23	Oppenheimer	Bryan Blair	$57	$58	+1	+10.5%	$52.51
2026-04-23	UBS	—	Initiated	$56	—	+4.5%	$53.60
2026-04-23	Robert W. Baird	Michael Halloran	$56	$53	-3	+1.0%	$52.48
2026-04-14	Stifel Nicolaus	—	$59	$53	-6	+6.8%	$49.61
2026-02-06	Oppenheimer	—	$53	$57	+4	+11.5%	$51.11
2026-02-05	Stifel Nicolaus	—	$54	$59	+5	+15.4%	$51.11
2026-02-05	Goldman Sachs	Joe Ritchie	Initiated	$50	—	-3.0%	$51.53
2026-02-05	RBC Capital	—	$49	$55	+6	+6.2%	$51.77
2026-02-05	Robert W. Baird	Michael Halloran	$39	$56	+17	+8.2%	$51.77
2026-01-05	RBC Capital	Jeffrey Reive	Initiated	$49	—	+4.6%	$46.85
2025-12-12	Jefferies	—	Initiated	$58	—	+21.9%	$47.56
2025-10-31	Oppenheimer	—	$52	$53	+1	+13.5%	$46.71
2025-10-30	Stifel Nicolaus	Nathan Jones	$34	$54	+20	+13.7%	$47.50
2025-10-30	Mizuho Securities	—	$36	$49	+13	+2.1%	$47.98
2025-09-17	Oppenheimer	—	$37	$52	+15	+10.1%	$47.21
2025-05-16	Mizuho Securities	Brett Linzey	$39	$36	-3	-4.1%	$37.54
2025-04-15	Stifel Nicolaus	Nathan Jones	Initiated	$34	—	+15.4%	$29.45
2024-10-30	Robert W. Baird	Michael Halloran	$27	$39	+12	+8.3%	$35.99
2024-04-12	Oppenheimer	Bryan Blair	Initiated	$37	—	+14.9%	$32.20
2022-10-26	Robert W. Baird	Michael Halloran	$34	$27	-7	+19.2%	$22.65
2022-07-27	Robert W. Baird	Michael Halloran	Initiated	$34	—	+19.9%	$28.35
2022-04-28	Mizuho Securities	—	Initiated	$39	—	+21.8%	$32.02

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-

May 22, 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. ZWS receives an overall rating of A-. Strongest factors: DCF (4/5), ROE (4/5), ROA (5/5). Areas of concern: P/E (2/5), P/B (2/5).

Rating Change History

Date	From	To
2026-05-22	B+	A-
2026-04-01	B	B+
2026-02-04	B+	B
2026-02-02	B	B+
2026-01-22	C	B

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 73 Grade A+

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. ZWS scores highest in Safety (100/100) and lowest in Value (51/100). An overall grade of A+ places ZWS among the highest-quality companies in its peer group.

Risk & Quality Signals

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

Altman Z-Score

4.92

Safe Zone

Piotroski F-Score

9/9

✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓

Beneish M-Score

-2.82

Unlikely Manipulator

Ohlson O-Score

-8.85

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 90.1/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 1.64x

Accruals: -5.1%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. ZWS scores 4.92, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. ZWS scores 9/9, signaling strong financial health across all three dimensions. 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. ZWS's score of -2.82 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. ZWS'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. ZWS receives an estimated rating of AA+ (score: 90.1/100), 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). ZWS'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

37.74x

PEG

1.40x

P/S

4.62x

P/B

5.01x

P/FCF

23.72x

P/OCF

21.76x

EV/EBITDA

21.29x

EV/Revenue

4.53x

EV/EBIT

25.90x

EV/FCF

24.60x

Earnings Yield

2.80%

FCF Yield

4.22%

Shareholder Yield

2.62%

Graham Number

$16.35

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 37.7x earnings, ZWS commands a growth premium. Graham's intrinsic value formula yields $16.35 per share, 194% 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

0.770

NI / EBT

Interest Burden

0.910

EBT / EBIT

EBIT Margin

0.175

EBIT / Rev

Asset Turnover

0.653

Rev / Assets

Equity Multiplier

1.670

Assets / Equity

ROE

13.4%

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. ZWS's ROE of 13.4% is driven by Asset Turnover (0.653), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

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

Adj. Growth Rate

60.44%

Fair P/E

129.38x

Intrinsic Value

$162.64

Price/Value

0.28x

Margin of Safety

72.43%

Premium

-72.43%

Assessment

Undervalued

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with ZWS's realized 60.4% 3-year EPS CAGR — what the company actually delivered, not what analysts hope for. At an intrinsic value of $162.64, ZWS appears undervalued with a 72% margin of safety. The adjusted fair P/E of 129.4x compares to the current market P/E of 37.7x.

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

$48.01

Median 1Y

$55.11

5th Pctile

$29.61

95th Pctile

$102.83

Ann. Volatility

37.4%

Analyst Target

$55.00

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

Workforce & Productivity

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

Employees

2,600

+4.0% YoY

Revenue / Employee

$652,269

Rev: $1,695,900,000

Profit / Employee

$76,154

NI: $198,000,000

SGA / Employee

$160,615

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	Q2'21	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	Current
ROE	16.3%	17.7%	24.3%	21.8%	17.1%	6.5%	7.1%	6.2%	6.0%	13.0%	7.0%	7.7%	8.4%	8.6%	10.0%	10.6%	10.9%	12.1%	12.4%	13.4%	13.37%
ROA	6.5%	7.1%	8.5%	7.6%	6.0%	2.3%	3.1%	2.8%	2.7%	5.7%	4.1%	4.5%	4.9%	5.0%	6.0%	6.4%	6.5%	7.2%	7.4%	8.0%	8.01%
ROIC	9.2%	7.1%	18.2%	20.3%	22.1%	15.3%	3.5%	3.4%	3.3%	6.3%	6.8%	7.3%	8.0%	8.3%	9.7%	9.9%	10.1%	10.6%	11.4%	12.2%	12.23%
ROCE	6.5%	5.2%	10.4%	12.8%	14.7%	9.8%	4.3%	4.2%	4.3%	6.9%	7.6%	8.0%	8.6%	9.0%	10.0%	10.5%	10.7%	11.4%	11.8%	12.6%	12.59%
Gross Margin	42.6%	41.7%	34.2%	42.5%	40.0%	33.6%	32.1%	40.0%	43.0%	42.6%	43.7%	45.5%	45.2%	46.2%	43.5%	46.6%	45.5%	40.8%	40.8%	47.5%	47.53%
Operating Margin	15.3%	14.1%	6.6%	18.3%	18.8%	-2.4%	5.8%	11.7%	13.6%	15.1%	9.2%	14.2%	17.5%	17.1%	13.3%	16.3%	17.5%	17.4%	15.9%	19.0%	18.96%
Net Margin	30.0%	27.9%	1.2%	12.6%	12.8%	-4.6%	4.2%	6.1%	8.6%	10.4%	3.9%	9.2%	11.2%	10.6%	9.8%	11.2%	11.4%	13.6%	10.3%	13.6%	13.60%
EBITDA Margin	24.6%	23.7%	0.9%	20.7%	20.0%	2.9%	13.7%	17.2%	19.4%	19.9%	14.5%	19.6%	22.3%	22.1%	19.5%	22.1%	22.0%	23.7%	20.1%	19.2%	19.19%
FCF Margin	19.1%	26.7%	22.0%	8.8%	5.6%	-1.3%	7.0%	10.2%	12.0%	17.2%	15.2%	18.5%	18.3%	17.4%	17.3%	16.4%	17.4%	17.4%	18.7%	18.4%	18.43%
OCF Margin	21.5%	29.9%	24.5%	10.4%	6.8%	-0.8%	7.6%	11.0%	13.1%	18.5%	16.6%	19.8%	19.5%	18.6%	18.7%	17.9%	19.1%	19.2%	20.4%	20.1%	20.10%
ROE 3Y Avg	snapshot only																				10.58%
ROE 5Y Avg	snapshot only																				33.98%
ROA 3Y Avg	snapshot only																				6.34%
ROIC 3Y Avg	snapshot only																				8.82%
ROIC Economic	snapshot only																				10.72%
Cash ROA	snapshot only																				13.05%
Cash ROIC	snapshot only																				18.57%
CROIC	snapshot only																				17.03%
NOPAT Margin	snapshot only																				13.24%
Pretax Margin	snapshot only																				15.92%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				24.40%
SBC / Revenue	snapshot only																				2.40%

Valuation

Metric	Q2'21	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	Current
P/E Ratio	13.26	15.83	23.73	25.73	25.26	82.23	59.87	68.30	88.24	42.74	45.03	46.56	37.41	44.65	39.87	33.28	35.59	41.55	39.99	35.67	37.737
P/S Ratio	2.11	3.39	4.95	4.64	3.42	3.53	2.88	2.62	3.02	3.19	3.32	3.77	3.29	3.96	4.08	3.57	3.84	4.81	4.67	4.37	4.622
P/B Ratio	2.00	2.59	35.71	34.68	26.70	32.79	2.29	2.30	2.87	2.99	3.17	3.61	3.17	3.84	4.03	3.55	3.90	5.03	4.94	4.75	5.010
P/FCF	11.06	12.69	22.53	52.50	61.04	-265.66	41.32	25.77	25.11	18.51	21.82	20.44	18.00	22.77	23.51	21.69	22.00	27.68	25.01	23.72	23.724
P/OCF	9.78	11.35	20.18	44.55	50.68	—	38.08	23.79	23.02	17.24	19.99	19.10	16.87	21.34	21.76	19.97	20.11	25.09	22.85	21.76	21.757
EV/EBITDA	9.67	14.67	30.13	29.04	23.41	38.01	25.05	23.10	25.25	19.66	20.06	21.91	18.49	21.31	20.53	17.57	18.88	22.91	21.94	21.29	21.285
EV/Revenue	2.06	3.33	5.44	5.11	3.87	3.91	3.23	2.94	3.31	3.48	3.58	4.04	3.56	4.22	4.30	3.79	4.06	5.03	4.83	4.53	4.533
EV/EBIT	13.97	22.91	56.97	45.15	31.07	56.15	37.39	38.53	45.62	29.57	29.58	31.61	26.13	29.68	28.07	23.82	25.47	30.39	28.77	25.90	25.897
EV/FCF	10.82	12.48	24.74	57.80	69.05	-294.05	46.30	28.87	27.52	20.22	23.57	21.87	19.44	24.28	24.81	23.05	23.26	28.91	25.89	24.60	24.597
Earnings Yield	7.5%	6.3%	4.2%	3.9%	4.0%	1.2%	1.7%	1.5%	1.1%	2.3%	2.2%	2.1%	2.7%	2.2%	2.5%	3.0%	2.8%	2.4%	2.5%	2.8%	2.80%
FCF Yield	9.0%	7.9%	4.4%	1.9%	1.6%	-0.4%	2.4%	3.9%	4.0%	5.4%	4.6%	4.9%	5.6%	4.4%	4.3%	4.6%	4.5%	3.6%	4.0%	4.2%	4.22%
PEG Ratio	snapshot only																				1.398
EV/OCF	snapshot only																				22.557
EV/Gross Profit	snapshot only																				10.377
Acquirers Multiple	snapshot only																				25.982
Shareholder Yield	snapshot only																				2.62%
Graham Number	snapshot only																				$16.35

Leverage & Solvency

Metric	Q2'21	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	Current
Current Ratio	2.86	2.86	1.98	1.98	1.98	1.98	2.62	2.62	2.62	2.62	3.02	3.02	3.02	3.02	2.91	2.91	2.91	2.91	3.13	3.13	3.129
Quick Ratio	2.43	2.43	1.21	1.21	1.21	1.21	1.35	1.35	1.35	1.35	1.77	1.77	1.77	1.77	1.81	1.81	1.81	1.81	2.07	2.07	2.071
Debt/Equity	0.00	0.00	4.27	4.27	4.27	4.27	0.35	0.35	0.35	0.35	0.34	0.34	0.34	0.34	0.35	0.35	0.35	0.35	0.36	0.36	0.362
Net Debt/Equity	-0.04	-0.04	3.50	3.50	3.50	3.50	0.28	0.28	0.28	0.28	0.25	0.25	0.25	0.25	0.22	0.22	0.22	0.22	0.17	0.17	0.175
Debt/Assets	0.00	0.00	0.50	0.50	0.50	0.50	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.21	0.21	0.21	0.21	0.22	0.22	0.217
Debt/EBITDA	0.00	0.00	3.28	3.25	3.31	4.47	3.45	3.17	2.83	2.12	1.99	1.92	1.83	1.77	1.68	1.62	1.59	1.51	1.55	1.57	1.566
Net Debt/EBITDA	-0.21	-0.25	2.69	2.66	2.72	3.67	2.70	2.48	2.21	1.66	1.49	1.44	1.37	1.32	1.08	1.04	1.02	0.97	0.75	0.76	0.756
Interest Coverage	4.69	3.87	2.51	3.58	4.92	3.54	4.12	3.40	3.02	4.61	4.81	5.19	5.84	6.44	7.25	7.97	8.34	9.27	9.96	11.08	11.076
Equity Multiplier	2.37	2.37	8.53	8.53	8.53	8.53	1.77	1.77	1.77	1.77	1.66	1.66	1.66	1.66	1.67	1.67	1.67	1.67	1.67	1.67	1.671
Cash Ratio	snapshot only																				1.158
Debt Service Coverage	snapshot only																				13.476
Cash to Debt	snapshot only																				0.518
FCF to Debt	snapshot only																				0.552
Defensive Interval	snapshot only																				398.6 days

Efficiency & Turnover

Metric	Q2'21	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	Current
Asset Turnover	0.41	0.33	0.41	0.42	0.44	0.52	0.65	0.72	0.78	0.77	0.55	0.55	0.56	0.56	0.59	0.60	0.61	0.62	0.64	0.65	0.653
Inventory Turnover	3.70	2.97	3.39	3.52	3.71	4.61	2.96	3.27	3.49	3.31	2.74	2.68	2.67	2.64	3.12	3.14	3.20	3.38	3.51	3.58	3.583
Receivables Turnover	6.18	4.99	7.35	7.63	7.96	9.48	7.05	7.78	8.43	8.32	7.12	7.13	7.17	7.22	7.60	7.67	7.83	8.05	8.76	8.99	8.993
Payables Turnover	7.20	5.77	7.42	7.71	8.13	10.09	7.35	8.13	8.66	8.22	10.18	9.96	9.91	9.82	13.42	13.48	13.74	14.50	14.03	14.32	14.316
DSO	59	73	50	48	46	39	52	47	43	44	51	51	51	51	48	48	47	45	42	41	40.6 days
DIO	99	123	108	104	98	79	123	112	105	110	133	136	137	138	117	116	114	108	104	102	101.9 days
DPO	51	63	49	47	45	36	50	45	42	44	36	37	37	37	27	27	27	25	26	25	25.5 days
Cash Conversion Cycle	107	133	108	104	99	82	125	114	106	110	149	151	151	152	138	137	134	128	120	117	117.0 days
Fixed Asset Turnover	snapshot only																				11.041
Operating Cycle	snapshot only																				142.5 days
Cash Velocity	snapshot only																				5.791
Capital Intensity	snapshot only																				1.540

Growth (YoY)

Metric	Q2'21	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	Current
Revenue	-32.1%	-44.5%	-52.3%	-39.8%	-27.7%	6.7%	40.7%	49.6%	55.5%	29.0%	19.4%	8.3%	0.5%	2.5%	2.4%	3.2%	4.7%	6.9%	8.3%	10.0%	10.03%
Net Income	28.1%	49.0%	20.7%	-4.9%	-38.3%	-78.6%	-67.6%	-68.1%	-60.7%	1.2%	82.7%	1.3%	1.6%	21.9%	42.1%	36.5%	28.3%	39.7%	23.6%	25.8%	25.84%
EPS	25.8%	45.9%	15.7%	-8.4%	-40.3%	-84.7%	-76.8%	-77.1%	-71.4%	1.2%	87.0%	1.3%	1.6%	24.0%	44.6%	39.2%	32.0%	41.9%	25.5%	27.7%	27.70%
FCF	-8.2%	3.9%	-27.4%	-63.7%	-78.7%	-1.1%	-55.4%	72.3%	2.3%	17.7%	1.6%	96.7%	52.8%	3.5%	16.8%	-8.1%	-0.1%	6.9%	16.5%	23.3%	23.30%
EBITDA	-21.4%	-29.1%	-51.9%	-47.9%	-43.9%	-51.7%	0.4%	8.2%	23.3%	1.2%	65.4%	57.1%	47.3%	14.6%	20.2%	20.7%	17.0%	18.4%	13.8%	8.6%	8.65%
Op. Income	-50.2%	-60.5%	-58.5%	-32.7%	-10.9%	-16.6%	-1.8%	-17.1%	-25.5%	73.9%	78.7%	87.9%	1.0%	27.9%	27.8%	26.8%	19.5%	18.2%	16.5%	19.2%	19.15%
OCF Growth	snapshot only																				23.79%
Asset Growth	snapshot only																				1.17%
Equity Growth	snapshot only																				1.04%
Debt Growth	snapshot only																				5.24%
Shares Change	snapshot only																				-1.46%
Dividend Growth	snapshot only																				15.89%

Growth (CAGR)

Metric	Q2'21	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	Current
Revenue 3Y	-11.5%	-18.6%	-24.2%	-22.8%	-21.7%	-17.0%	-14.6%	-11.9%	-8.6%	-8.6%	-7.1%	-0.8%	4.2%	12.2%	19.8%	18.7%	17.9%	12.2%	9.8%	7.2%	7.15%
Revenue 5Y	-6.5%	-10.5%	-13.7%	-13.2%	-12.2%	-8.7%	-6.9%	-5.8%	-4.9%	-5.8%	-6.0%	-5.7%	-5.6%	-5.4%	-5.3%	-5.2%	-4.3%	-3.5%	-2.4%	2.1%	2.09%
EPS 3Y	56.5%	—	—	68.2%	16.4%	-41.2%	-40.3%	-40.5%	-40.1%	-20.8%	-20.5%	-21.3%	-23.7%	-24.9%	-14.4%	-9.5%	-0.6%	57.7%	50.3%	60.4%	60.44%
EPS 5Y	22.6%	23.9%	27.3%	13.5%	6.0%	-18.9%	-24.0%	-16.0%	-8.1%	—	—	20.5%	3.3%	-10.9%	-10.4%	-7.4%	-5.9%	-2.6%	-1.9%	-2.8%	-2.80%
Net Income 3Y	64.5%	—	—	70.6%	17.9%	-34.0%	-32.3%	-32.9%	-32.3%	-10.6%	-10.6%	-11.5%	-14.5%	-16.4%	-5.6%	-0.2%	9.2%	56.3%	47.5%	57.8%	57.78%
Net Income 5Y	27.0%	28.4%	32.7%	18.1%	10.3%	-10.3%	-17.9%	-6.5%	1.5%	—	—	29.3%	10.7%	-4.8%	-4.2%	-1.2%	0.6%	4.0%	4.7%	3.6%	3.56%
EBITDA 3Y	5.1%	-2.0%	-17.2%	-25.4%	-26.0%	-33.5%	-26.0%	-22.2%	-18.4%	-8.7%	-7.2%	-3.9%	0.6%	7.2%	25.9%	27.1%	28.6%	44.5%	31.3%	27.3%	27.26%
EBITDA 5Y	0.9%	-1.6%	-7.6%	-9.7%	-10.9%	-16.9%	-12.9%	-5.0%	-4.3%	0.2%	-1.2%	-6.8%	-5.9%	-5.6%	-4.3%	-2.2%	-1.3%	0.7%	1.8%	3.1%	3.06%
Gross Profit 3Y	-11.1%	-18.1%	-22.6%	-21.4%	-20.9%	-18.2%	-16.6%	-14.1%	-10.0%	-7.9%	-3.4%	3.8%	9.1%	17.9%	24.4%	23.5%	23.4%	18.8%	16.5%	14.1%	14.05%
Gross Profit 5Y	-4.5%	-8.4%	-11.1%	-10.6%	-10.1%	-8.2%	-7.4%	-6.5%	-5.2%	-5.0%	-3.9%	-3.1%	-2.9%	-2.5%	-2.5%	-2.4%	-1.3%	-1.0%	0.5%	4.9%	4.90%
Op. Income 3Y	-0.9%	-12.0%	-16.5%	-25.0%	-22.6%	-31.6%	-31.1%	-32.1%	-30.9%	-16.9%	-10.0%	1.6%	10.2%	22.8%	30.9%	25.5%	21.5%	38.0%	38.6%	41.6%	41.61%
Op. Income 5Y	0.4%	-4.7%	-5.0%	-6.8%	-6.4%	-14.0%	-15.6%	-6.9%	-8.4%	-0.3%	0.4%	-8.0%	-7.0%	-6.6%	-5.7%	-5.7%	-4.5%	-2.8%	1.6%	9.6%	9.64%
FCF 3Y	16.9%	13.5%	-1.5%	-26.8%	-37.0%	—	-28.4%	-17.6%	-13.3%	-2.6%	-5.5%	7.1%	2.7%	-2.8%	10.7%	46.0%	72.0%	—	52.4%	30.6%	30.62%
FCF 5Y	8.3%	14.9%	10.6%	-9.9%	-19.5%	—	-10.9%	-5.2%	2.5%	5.4%	2.1%	5.8%	5.0%	3.4%	2.2%	0.2%	-0.1%	0.4%	2.8%	6.9%	6.87%
OCF 3Y	12.2%	10.5%	-3.9%	-27.5%	-36.6%	—	-30.4%	-19.5%	-15.0%	-4.9%	-7.4%	4.2%	0.8%	-4.3%	9.5%	42.1%	66.6%	—	52.9%	30.9%	30.90%
OCF 5Y	4.9%	9.2%	3.2%	-12.8%	-20.7%	—	-13.0%	-7.4%	-0.6%	2.9%	0.2%	3.2%	2.9%	1.4%	0.4%	-1.1%	-1.2%	-0.5%	1.6%	5.5%	5.50%
Assets 3Y	-0.2%	-0.2%	-32.0%	-30.9%	-30.9%	-30.9%	-4.2%	-4.2%	-4.2%	-4.2%	-7.8%	-7.8%	-7.8%	-7.8%	34.9%	34.9%	34.9%	34.9%	-2.2%	-2.2%	-2.20%
Assets 5Y	0.3%	0.3%	-20.3%	-21.2%	-21.2%	-21.2%	-4.1%	-3.5%	-3.5%	-3.5%	-4.9%	-3.9%	-3.9%	-3.9%	-4.1%	-4.1%	-4.1%	-4.1%	-4.7%	-4.7%	-4.66%
Equity 3Y	5.8%	5.8%	-52.9%	-53.1%	-53.1%	-53.1%	9.5%	9.5%	9.5%	9.5%	3.7%	3.7%	3.7%	3.7%	1.3%	1.3%	1.3%	1.3%	-0.2%	-0.2%	-0.24%
Book Value 3Y	0.7%	5.3%	-53.6%	-53.8%	-53.7%	-58.2%	-3.3%	-2.9%	-3.1%	-2.9%	-7.8%	-7.7%	-7.5%	-6.9%	1.1%	1.1%	1.1%	1.3%	1.6%	1.4%	1.44%
Dividend 3Y	4.3%	6.1%	-3.4%	-10.7%	-19.1%	-26.2%	-15.0%	-0.9%	15.1%	12.6%	2.9%	-3.7%	-8.3%	-6.7%	-5.8%	-6.0%	-5.9%	4.2%	6.1%	6.8%	6.81%

Growth Quality

Metric	Q2'21	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	Current
Revenue Stability	0.26	0.33	0.37	0.53	0.58	0.51	0.45	0.52	0.48	0.48	0.39	0.33	0.23	0.16	0.09	0.09	0.06	0.09	0.07	0.32	0.319
Earnings Stability	0.71	0.54	0.23	0.60	0.52	0.11	0.01	0.06	0.03	0.04	0.08	0.00	0.02	0.19	0.22	0.13	0.08	0.00	0.03	0.05	0.052
Margin Stability	0.95	0.95	0.94	0.95	0.96	0.96	0.96	0.96	0.98	0.97	0.94	0.93	0.93	0.92	0.92	0.91	0.91	0.92	0.91	0.90	0.904
Rev. Growth Consistency	0.00	0.00	0.00	0.00	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	1.000
Earn. Growth Consistency	1.00	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.000
FCF Positive Streak	1	1	1	1	1	0	1	1	1	0	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.89	0.80	0.92	0.98	0.85	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.91	0.83	0.85	0.89	0.84	0.91	0.90	0.897
Earnings Smoothness	0.75	0.61	0.81	0.95	0.53	0.00	0.00	0.00	0.13	0.23	0.42	0.22	0.12	0.80	0.65	0.69	0.75	0.67	0.79	0.77	0.771
ROE Trend	0.05	0.03	1.37	1.21	0.91	0.25	-0.77	-0.70	-0.57	-0.21	-0.70	-0.61	-0.46	-0.15	0.05	0.05	0.05	0.04	0.04	0.04	0.041
Gross Margin Trend	-0.00	0.00	0.02	0.02	0.01	-0.02	-0.03	-0.03	-0.02	0.02	0.04	0.05	0.06	0.07	0.06	0.05	0.05	0.02	-0.00	-0.01	-0.009
FCF Margin Trend	0.07	0.14	0.09	-0.05	-0.11	-0.22	-0.11	-0.02	-0.00	0.05	0.01	0.09	0.09	0.09	0.06	0.02	0.02	0.00	0.02	0.01	0.010
Sustainable Growth Rate	13.2%	14.5%	19.7%	18.0%	14.2%	3.4%	3.4%	1.5%	0.4%	7.4%	3.9%	4.5%	5.1%	5.1%	6.5%	7.0%	7.2%	8.3%	8.4%	9.2%	9.17%
Internal Growth Rate	5.6%	6.2%	7.4%	6.7%	5.2%	1.2%	1.5%	0.7%	0.2%	3.4%	2.3%	2.7%	3.1%	3.1%	4.1%	4.4%	4.5%	5.2%	5.3%	5.8%	5.81%

Cash Flow Quality

Metric	Q2'21	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	Current
OCF/Net Income	1.36	1.39	1.18	0.58	0.50	-0.19	1.57	2.87	3.83	2.48	2.25	2.44	2.22	2.09	1.83	1.67	1.77	1.66	1.75	1.64	1.639
FCF/OCF	0.88	0.89	0.90	0.85	0.83	1.62	0.92	0.92	0.92	0.93	0.92	0.93	0.94	0.94	0.93	0.92	0.91	0.91	0.91	0.92	0.917
FCF/Net Income	snapshot only																				1.504
OCF/EBITDA	snapshot only																				0.944
CapEx/Revenue	2.5%	3.1%	2.6%	1.6%	1.1%	0.5%	0.6%	0.8%	1.1%	1.3%	1.4%	1.3%	1.2%	1.2%	1.4%	1.4%	1.6%	1.8%	1.8%	1.7%	1.67%
CapEx/Depreciation	snapshot only																				0.439
Accruals Ratio	-0.02	-0.03	-0.01	0.03	0.03	0.03	-0.02	-0.05	-0.08	-0.08	-0.05	-0.06	-0.06	-0.05	-0.05	-0.04	-0.05	-0.05	-0.06	-0.05	-0.051
Sloan Accruals	snapshot only																				0.005
Cash Flow Adequacy	snapshot only																				3.639
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q2'21	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	Current
Dividend Yield	1.4%	1.1%	0.8%	0.7%	0.7%	0.6%	0.9%	1.1%	1.1%	1.0%	1.0%	0.9%	1.1%	0.9%	0.9%	1.0%	1.0%	0.8%	0.8%	0.9%	0.88%
Dividend/Share	$0.33	$0.34	$0.28	$0.23	$0.17	$0.14	$0.18	$0.23	$0.28	$0.28	$0.29	$0.30	$0.31	$0.32	$0.33	$0.34	$0.35	$0.36	$0.38	$0.40	$0.42
Payout Ratio	18.8%	17.9%	19.1%	17.3%	16.8%	47.4%	52.7%	75.5%	94.1%	43.4%	44.7%	41.9%	39.5%	40.0%	35.3%	34.2%	34.0%	31.6%	32.3%	31.5%	31.46%
FCF Payout Ratio	15.7%	14.4%	18.2%	35.2%	40.5%	—	36.4%	28.5%	26.8%	18.8%	21.7%	18.4%	19.0%	20.4%	20.8%	22.3%	21.0%	21.0%	20.2%	20.9%	20.92%
Total Payout Ratio	39.7%	37.1%	19.6%	17.3%	16.8%	47.4%	92.7%	1.9%	3.1%	1.5%	1.6%	1.3%	1.3%	1.5%	1.3%	1.6%	1.4%	1.1%	1.1%	93.6%	93.58%
Div. Increase Streak	1	1	0	0	0	0	0	0	0	0	0	1	1	1	1	1	1	1	1	1	1
Chowder Number	0.33	0.22	-0.05	-0.25	-0.44	-0.43	-0.10	0.41	1.22	1.06	0.56	0.28	0.10	0.13	0.13	0.12	0.11	0.11	0.14	0.17	0.168
Buyback Yield	1.6%	1.2%	0.0%	0.0%	0.0%	0.0%	0.7%	1.7%	2.4%	2.6%	2.5%	1.9%	2.3%	2.5%	2.4%	3.7%	2.9%	1.9%	2.0%	1.7%	1.74%
Net Buyback Yield	1.6%	1.2%	0.0%	0.0%	0.0%	0.0%	0.7%	1.7%	2.4%	2.6%	2.5%	1.9%	2.3%	2.5%	2.4%	3.7%	2.9%	1.9%	2.0%	1.6%	1.64%
Total Shareholder Return	3.0%	2.3%	0.8%	0.7%	0.7%	0.6%	1.5%	2.8%	3.5%	3.6%	3.5%	2.7%	3.4%	3.4%	3.2%	4.7%	3.9%	2.6%	2.8%	2.5%	2.52%

DuPont Factors

Metric	Q2'21	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	Current
Tax Burden (NI/EBT)	1.35	1.96	3.64	2.21	1.36	0.86	0.74	0.71	0.70	0.81	0.77	0.79	0.78	0.74	0.77	0.77	0.77	0.79	0.77	0.77	0.770
Interest Burden (EBT/EBIT)	0.80	0.75	0.60	0.72	0.80	0.72	0.76	0.71	0.67	0.78	0.79	0.81	0.83	0.84	0.86	0.87	0.88	0.89	0.90	0.91	0.910
EBIT Margin	0.15	0.15	0.10	0.11	0.12	0.07	0.09	0.08	0.07	0.12	0.12	0.13	0.14	0.14	0.15	0.16	0.16	0.17	0.17	0.18	0.175
Asset Turnover	0.41	0.33	0.41	0.42	0.44	0.52	0.65	0.72	0.78	0.77	0.55	0.55	0.56	0.56	0.59	0.60	0.61	0.62	0.64	0.65	0.653
Equity Multiplier	2.50	2.50	2.87	2.87	2.87	2.87	2.26	2.26	2.26	2.26	1.72	1.72	1.72	1.72	1.67	1.67	1.67	1.67	1.67	1.67	1.670

Per Share

Metric	Q2'21	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	Current
EPS (Diluted TTM)	$1.74	$1.88	$1.48	$1.33	$1.04	$0.29	$0.34	$0.30	$0.30	$0.64	$0.64	$0.71	$0.77	$0.80	$0.93	$0.98	$1.02	$1.13	$1.16	$1.26	$1.26
Book Value/Share	$11.56	$11.48	$0.98	$0.98	$0.98	$0.72	$8.97	$9.05	$9.15	$9.17	$9.11	$9.12	$9.16	$9.26	$9.18	$9.22	$9.33	$9.32	$9.41	$9.45	$9.58
Tangible Book/Share	$7.97	$7.92	$-2.38	$-2.39	$-2.39	$-1.75	$-0.95	$-0.96	$-0.97	$-0.97	$-0.83	$-0.83	$-0.83	$-0.84	$-0.57	$-0.57	$-0.58	$-0.58	$-0.16	$-0.16	$-0.16
Revenue/Share	$10.97	$8.79	$7.08	$7.36	$7.68	$6.71	$7.12	$7.93	$8.69	$8.60	$8.70	$8.72	$8.81	$8.97	$9.06	$9.18	$9.49	$9.75	$9.96	$10.26	$10.38
FCF/Share	$2.09	$2.35	$1.56	$0.65	$0.43	$-0.09	$0.50	$0.81	$1.05	$1.48	$1.32	$1.61	$1.61	$1.56	$1.57	$1.51	$1.66	$1.69	$1.86	$1.89	$1.91
OCF/Share	$2.36	$2.62	$1.74	$0.77	$0.52	$-0.05	$0.54	$0.87	$1.14	$1.59	$1.44	$1.72	$1.72	$1.67	$1.70	$1.64	$1.81	$1.87	$2.03	$2.06	$2.09
Cash/Share	$0.50	$0.50	$0.75	$0.75	$0.75	$0.55	$0.69	$0.70	$0.71	$0.71	$0.78	$0.78	$0.78	$0.79	$1.15	$1.15	$1.16	$1.16	$1.76	$1.77	$1.63
EBITDA/Share	$2.34	$2.00	$1.28	$1.29	$1.27	$0.69	$0.92	$1.01	$1.14	$1.52	$1.55	$1.61	$1.69	$1.78	$1.90	$1.98	$2.04	$2.14	$2.19	$2.18	$2.18
Debt/Share	$0.00	$0.00	$4.19	$4.20	$4.20	$3.09	$3.17	$3.20	$3.23	$3.24	$3.09	$3.09	$3.10	$3.14	$3.19	$3.20	$3.24	$3.24	$3.41	$3.42	$3.42
Net Debt/Share	$-0.50	$-0.50	$3.44	$3.45	$3.45	$2.53	$2.47	$2.50	$2.52	$2.53	$2.31	$2.31	$2.32	$2.35	$2.05	$2.05	$2.08	$2.08	$1.64	$1.65	$1.65

Academic Models

Metric	Q2'21	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	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	4.923
Altman Z-Prime	snapshot only																				8.163
Piotroski F-Score	6	6	5	3	3	2	5	5	6	7	8	8	8	8	6	7	7	6	8	9	9
Beneish M-Score	-3.35	-3.36	-1.94	-2.37	-2.37	-2.28	-1.78	-1.91	-2.12	-2.15	-2.97	-2.94	-2.87	-2.86	-2.73	-2.72	-2.74	-2.64	-2.80	-2.82	-2.816
Ohlson O-Score	snapshot only																				-8.847
Net-Net WC	snapshot only																				$-1.56
EVA	snapshot only																				$42081691.77

Credit

Metric	Q2'21	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	Current
Credit Rating	snapshot only																				AA+
Credit Score	57.64	63.84	54.56	53.54	48.50	46.62	59.56	59.56	67.95	67.39	75.95	80.96	78.14	82.20	86.87	84.65	87.25	87.50	86.27	90.12	90.119
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				5.467
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				84
Sector Credit Rank	snapshot only																				83

ZWS 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

Workforce & Productivity

Scaling Efficiency

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