ASH Ashland Inc. Common Stock
About Ashland Inc. Common Stock Company overview from Wikipedia
Ashland, Inc., is an American chemical company headquartered in Wilmington, Delaware. The company began as an oil refinery in the city of Ashland, Kentucky, in 1924, before moving to Wilmington in 1994. The company has five wholly owned divisions, which include Chemical Intermediates and Solvents, composites, industrial specialties, personal and home care, pharmaceuticals, food and beverage, and agriculture. Until 2017, the company was the primary manufacturer of Valvoline.
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Ashland, Inc., is an American chemical company headquartered in Wilmington, Delaware. The company began as an oil refinery in the city of Ashland, Kentucky, in 1924, before moving to Wilmington in 1994. The company has five wholly owned divisions, which include Chemical Intermediates and Solvents, composites, industrial specialties, personal and home care, pharmaceuticals, food and beverage, and agriculture. Until 2017, the company was the primary manufacturer of Valvoline.
History
Founding and early years
Ashland was founded in 1924 as the Ashland Refining Company in Catlettsburg, Kentucky, by Paul G. Blazer.
In October 1923, J. Fred Miles of the Swiss Oil Company of Lexington, Kentucky, employed Paul G. Blazer and assigned him the task of locating, purchasing and operating an oil refinery in northeastern Kentucky. Blazer selected a location on the banks of the Big Sandy River approximately two miles south of the Ohio River near the community of Leach Railroad Station, Kentucky. One mile south of the city of Catlettsburg, the site contained an existing refinery which was purchased by Blazer which had been in operation since 1916. The Catlettsburg site was advantageous due to its location near the Ohio River and offered an efficient means of transportation for the fledgling company. With funds supplied by Swiss Oil, Blazer arranged to buy, at a price of $212,500, the small unprofitable 1,000 barrel per day refinery of Great Eastern Refining Company which had been owned by coal operators in Huntington, West Virginia. With the purchase of the refinery came a small towboat and oil barge.
On February 2, 1924, Blazer and three Swiss Oil executives incorporated Ashland Refining Company, with a capital of $250,000. They took over the operations of the Catlettsburg Refinery which had twenty-five employees who were working seven days per week and twelve hours per day. Blazer moved from Lexington to Ashland. The only member of the Swiss Oil organization to come to Ashland with Blazer was Ashland Refining Company's first treasurer, William Waples.
Ashland's refinery operations in Catlettsburg proved to be successful even from the very first month. Wages were increased and the hours of work were reduced. After making repairs and purchasing some new, modern equipment, the refinery soon had output of 500,000 barrels a year (1370 barrels per calendar day) and sales of $1,300,000. In only a few years, the Ashland Refining Company began to show larger returns than the parent company.
Ashland Refining Co. grew rapidly through both internal expansion and acquisitions including Union Gas and Oil Company (1925), Tri-State Refining Company (1930), and Cumberland Pipeline Company (1931).
By 1933, Ashland Refining Company owned more than 1,000 wells, 800 miles of pipelines, bulk distribution plants in twelve cities, service stations, river transportation terminals and river equipment. In 1936, under Blazer's leadership, the company's ownership changed from Swiss Oil to the Ashland Oil and Refining Company shareholder group and was headquartered in Ashland, Kentucky. Blazer was appointed Chief Executive Officer of the company.
Blazer's success as manager was recognized by major stockholders. They gave him the power to run Ashland as his own operation, though at no point during his tenure as Chief Executive Officer (1936–1957) did he own a controlling interest in the company.
Blazer's philosophy of supporting the well-being of company employees was evident early on. Two of his early changes were offering employees' sick leave with full pay, and in 1947 the introduction of an employee profit-sharing plan. This move made the company one of the first in the region to offer such benefits. Blazer supported creative arts and invited nearby Greenup County educator and internationally acclaimed author Jesse Stuart to open each annual meeting with a story, a poem, or a bit of humor. He also was a pastor at his local church.
Post-World War II
After the end of World War II, Ashland teamed with Sperry Corporation to develop the introduction of radar on commercial river vessels and teamed with various shipyards to develop the integrated tow. The "jumbo" tank barge of 195 ft. by 35 ft. became the industry standard and was used by Ashland. Under Blazer's control, the company grew to become a Forbes 500 company by relying on barges to bring in crude oil and deliver refined products to independent marketers. Ashland soon operated the nation's largest inland towing fleet and in 1953 the Port of Huntington-Tristate exceeded Pittsburgh as the busiest port on the Ohio River and the busiest inland port in the United States, a title it retains to date.
Ashland Oil & Refining Company also grew through many acquisitions such as the Allied Oil Company (1948), Cleveland and Lakeland Tankers (1948), Aetna Oil Company (1949), Freedom-Valvoline Company (1950), Frontier Oil of Buffalo (1950) and National Refining Company (1950).
By 1953, Ashland Oil and Refining Company had 3,518 miles of crude oil pipelines, 252 miles of product lines, six refineries processing an average of 124,000 barrels a day, operated nine tow boats on the inland waterways, and owned over 100 barges.
Although still involved as chairman of Ashland's Finance Committee and Executive Committee, Blazer stepped down as Chief Executive Officer in 1957.
Louisville Refining Company was purchased in 1959. United Carbon was purchased in 1963.
In 1966, Ashland Oil and Refinery Company, Inc.'s sales had grown to $699,000,000.
Diversification continued with the purchase of Warren Brothers in 1966, which later was to become Ashland Paving and Construction. A major leap into the chemical industry occurred in 1967 when Ashland purchased Archer Daniels Midland Chemical Group. This chemical distribution segment of the business would go on to be one of the primary functions of the company in the later part of the 20th century. In 1969, the company reorganized to form Ashland Petroleum with Robert T. McCowan as its first president, as well as entering into a joint venture in Coal mining under the name Arch Mineral.
1980s-1990s
In the 1980s and early 1990s, Ashland continued to expand, buying The Permian Corporation which it merged with Scurlock Oil Company in 1991 to form a subsidiary known as Scurlock Permian Corporation. In 1992, most of Unocal's chemical distribution business was acquired, making Ashland the top chemical distributor in North America. At this time, the Industrial Chemicals & Solvents (IC&S) division was established. The company's name was changed from "Ashland Oil, Incorporated" to the present "Ashland, Inc." in 1995, which noted the reduced importance of oil in the overall business.
In 1998, the petroleum division merged with Marathon Oil to form Marathon Ashland Petroleum, LLC (MAP). Following that in 1999, Ashland was #102 on the Fortune 200 list of companies when it agreed to sell its Scurlock Permian subsidiary to Plains All American Pipeline and the headquarters were moved from Ashland to Covington, Kentucky, although the company maintained an office building in Russell, adjacent to Ashland.
21st century
A monumental change came in 2005, when Ashland sold its shares of the petroleum joint venture to Marathon Oil, effectively dissolving the remnants of their petroleum division. After the sale, the company was no longer involved in the refining or marketing of fuels. The original oil refinery in Catlettsburg, Kentucky, is still in operation to date, owned and operated by Marathon. In 2006, Ashland sold APAC (the paving and construction division) to the Oldcastle Materials subsidiary of Oldcastle, Inc. of Dublin, Ireland.
Ashland purchased the adhesive and emulsions divisions of Air Products and Chemicals, Inc. in 2008. and announced plans to acquire Hercules, Inc. in July 2008, for $3.3 billion. On November 13, 2008, the transaction was completed.
In July 2010 Ashland merged its foundry chemicals activity with Süd-Chemie of Munich, Germany, to form ASK Chemicals L.P. with headquarters in Dublin, Ohio.
In November 2010 Ashland announced plans to sell its distribution business known as Ashland Distribution to TPG Capital for $930 million. The Ashland Distribution business had been a part of Ashland since 1969 when it was known as Ashland Chemical. With revenues of $3.4 billion, the Ashland Distribution business had approximately 2,000 employees across North America and Europe, and entered the China plastics market in 2009. The sale was finalized April 1, 2011, with a final sale price of US$979 million. The new privately held company was named Nexeo Solutions, which was subsequestly purchased by Univar in 2019 to create Univar Solutions.
In May 2011 Ashland announced that it had bought the privately owned company International Specialty Products, Inc. (ISP) for $3.2 billion. ISP is a supplier of specialty chemicals and performance-enhancing products for consumer and industrial markets.
In 2014, Ashland Water Technologies was sold to a private equity fund managed by Clayton, Dubilier & Rice.
In May 2017, Ashland spun off its Valvoline business as Valvoline, Inc. (NYSE:VVV), the final step of reorganizing itself as a global specialty chemicals company.
In January 2019, Ashland struck a deal with activist investor Cruiser Capital Advisors, which had planned to mount a proxy fight to replace four board directors. Instead, the two parties reached an agreement involving a consulting role for one of Cruiser's director nominees and more input regarding future board appointees.
In October 2019, Ashland announced Guillermo Novo would succeed William A. Wulfsohn as chairman and chief executive officer.
In February 2022, Ashland sold its Performance Adhesives business to Arkema.
Investor concerns
Ancora Alternatives, an activist investment company headquartered in Cleveland, Ohio, which hold a significant stake in Ashland, bought stock in the company after its stock price dropped in April after disappointing second-quarter earnings reports. Ashland's stock price hit a high in December 2022, but since then has fallen around 50%. As of June 9, Ashland had a market cap of $2.7 billion.
According to a shareholder presentation, Ancora wants Ashland to sell itself because it believes that the transaction could increase the stock price by at least 30%, pushing the share price to at least $76. Ancora said it is willing to launch a proxy fight in September 2026 to push the issue. The company Standard Industries is Ashland's biggest investor, with a stake of nearly 10%. Industry analysts have speculated that it could be among a group of potential buyers for Ashland.
The CEO of Ashland, Guillermo Novo, was appointed to the job in October 2019. His initial mandate was to transform the company into a pure-play specialty chemicals platform. He was tasked with non-core divestitures, cost reductions, and balance sheet repairs, according to Ancora's presentation. Ancora believes Novo, who has been in charge for seven years, has largely failed shareholders. Ancora noted several concerns about Novo's credibility during his leadership and execution. Under his tenure, Ashland missed consensus estimates in four out of the five last quarters. Compared with his proxy peers, the company under his leadership suffered substantially negative total shareholder returns across multiple time frames. Under Novo's tenure, the company has seen a 23.9% decline in share price and a 50% drop from its December 2022 peak. The company's overall enterprise value decreased by $3.4 billion. Its market cap dropped by $1.9 billion.
Settlement
On July 28, Bloomberg reported that Ashland and activist investor Ancora Holdings Group reached a settlement from Ancora's activist campaign which would add two new directors to the board. The settlement would also create a capital allocation committee. That same day, Ashland announced the appointment of two new independent directors, Peter Thomas and Allen Spizzo, to the board. Thomas formerly ran Ferro Corporation, while Spizzo is a former executive of Hercules Inc.
Company histories
Scott, Otto J. The Exception: The Story of Ashland Oil & Refining Company. McGraw Hill, 1968.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
ASH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
ASH Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| June 1, 2026 | $0.4200 |
| Feb. 27, 2026 | $0.4150 |
| Dec. 1, 2025 | $0.4150 |
| Aug. 29, 2025 | $0.4150 |
| May 30, 2025 | $0.4150 |
| Feb. 28, 2025 | $0.4050 |
| Nov. 29, 2024 | $0.4050 |
| Aug. 30, 2024 | $0.4050 |
| May 31, 2024 | $0.4050 |
| Feb. 29, 2024 | $0.3850 |
| Nov. 30, 2023 | $0.3850 |
| Aug. 31, 2023 | $0.3850 |
| May 31, 2023 | $0.3850 |
| Feb. 28, 2023 | $0.3350 |
| Nov. 30, 2022 | $0.3350 |
| Aug. 31, 2022 | $0.3350 |
| May 31, 2022 | $0.3350 |
| Feb. 28, 2022 | $0.3000 |
| Nov. 30, 2021 | $0.3000 |
| Aug. 31, 2021 | $0.3000 |
ASH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 4 25.0%
- Buy 8 50.0%
- Hold 4 25.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-14Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.02 | $1.00 | 0.02% |
| March 31, 2026 | $0.91 | $0.95 | -0.04% |
| Dec. 31, 2025 | $0.26 | $0.26 | -0.00% |
| Sept. 30, 2025 | $1.08 | $1.26 | -0.18% |
| June 30, 2025 | $1.04 | $1.24 | -0.20% |
| March 31, 2025 | $0.99 | $1.11 | -0.12% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ASH | — | -2.6 | -13.7% | -46.3% | -37.6% | 30.1% |
| SXT | — | 29.7 | 3.5% | 8.3% | 11.4% | — |
| PRM | $4.11B | -20.1 | 16.4% | -31.6% | -17.8% | 57.5% |
| CE | — | -4.0 | -7.0% | -12.2% | -25.4% | 20.4% |
| AVNT | $3.82B | 35.1 | 0.61% | 2.5% | 3.5% | 31.1% |
| FUL | $3.16B | 21.2 | -2.7% | 4.4% | 7.9% | 31.1% |
| KWR | $2.38B | -980.8 | 2.7% | -0.13% | -0.18% | 36.0% |
| NGVT | $2.10B | -12.8 | -2.7% | -14.3% | -222.2% | 39.5% |
| IOSP | — | 16.4 | -3.6% | 6.6% | 9.2% | 27.7% |
| MTX | $1.89B | -103.3 | -2.2% | -0.89% | -1.1% | 25.0% |
| SCL | — | 23.1 | 7.0% | 2.0% | 3.8% | 11.6% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.82B | $2.11B | $2.19B | $2.39B | $2.11B | $2.02B | $2.15B | $2.59B | $2.31B | $3.02B | $3.42B | $6.10B | |
| Cost of Revenue | $1.27B | $1.50B | $1.52B | $1.56B | $1.44B | $1.42B | $1.50B | $1.73B | $1.58B | $2.13B | $2.53B | $4.61B | |
| Gross Profit | $549M | $618M | $668M | $830M | $670M | $599M | $651M | $863M | $729M | $887M | $888M | $1.52B | |
| R&D Expense | $54M | $55M | $51M | $55M | $50M | $56M | $58M | $73M | $73M | $87M | $99M | $114M | |
| SG&A Expense | $344M | $404M | $365M | $393M | $358M | $400M | $426M | $599M | $610M | $858M | $692M | $1.36B | |
| Operating Income | $-775M | $-26M | $172M | $333M | $192M | $-461M | $86M | $102M | $49M | $-50M | $112M | $46M | |
| Interest Income | $5M | $10M | $12M | $4M | $1M | $1M | $2M | $4M | $4M | $5M | $6M | $6M | |
| Pretax Income | $-809M | $-24M | $160M | $206M | $135M | $-577M | $-9M | $11M | $-196M | $-308M | $-151M | $-116M | |
| Income Tax | $13M | $-223M | $-8M | $25M | $-38M | $-22M | $30M | $-8M | $-16M | $-25M | $-139M | $-188M | |
| Net Income | $-845M | $169M | $178M | $927M | $220M | $-508M | $505M | $114M | $1M | $-29M | $309M | $233M | |
| EPS (Basic) | $-18.23 | $3.40 | $3.36 | $16.71 | $3.63 | $-8.39 | $8.15 | $1.82 | $0.01 | $-0.47 | $4.54 | $3.04 | |
| EPS (Diluted) | $-18.23 | $3.36 | $3.31 | $16.41 | $3.59 | $-8.39 | $8.15 | $1.79 | $0.01 | $-0.47 | $4.54 | $3.00 | |
| Shares (Basic) | 46,000,000 | 49,000,000 | 53,000,000 | 55,000,000 | 60,000,000 | 61,000,000 | 62,000,000 | 63,000,000 | 62,000,000 | 63,000,000 | 68,000,000 | 77,000,000 | |
| Shares (Diluted) | 46,000,000 | 50,000,000 | 54,000,000 | 56,000,000 | 61,000,000 | 61,000,000 | 62,000,000 | 64,000,000 | 62,000,000 | 63,000,000 | 68,000,000 | 78,000,000 | |
| EBITDA | $-538M | $248M | $415M | $574M | $425M | $-141M | $455M | $539M | $443M | $664M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $215M | $300M | $417M | $646M | $210M | $454M | $232M | $294M | $566M | $1.02B | $1.26B | $1.39B | |
| Receivables | $242M | $243M | $338M | $402M | $369M | $437M | $481M | $522M | $612M | $529M | $961M | · | |
| Inventory | $568M | $545M | $626M | $629M | $473M | $506M | $597M | $596M | $634M | $539M | $706M | · | |
| Other Current Assets | $180M | $107M | $125M | $91M | $68M | $87M | $64M | $60M | $91M | $89M | $169M | · | |
| Current Assets | $1.21B | $1.20B | $1.51B | $1.77B | $1.72B | $1.55B | $1.43B | $1.71B | $1.90B | $2.89B | $3.09B | · | |
| PP&E (Net) | $1.20B | $1.30B | $1.37B | $1.34B | $1.43B | $1.49B | $1.58B | $1.65B | $1.97B | $1.90B | $1.93B | $2.41B | |
| PP&E (Gross) | $3.35B | $3.32B | $3.21B | $3.05B | $3.07B | $3.00B | $3.17B | $3.17B | $3.76B | $3.62B | $4.14B | · | |
| Accum. Depreciation | $2.15B | $2.01B | $1.84B | $1.71B | $1.64B | $1.52B | $1.59B | $1.53B | $1.79B | $1.72B | $1.96B | · | |
| Goodwill | $705M | $1.38B | $1.36B | $1.31B | $1.43B | $1.30B | $1.80B | $2.30B | $2.31B | $2.14B | $2.32B | $2.64B | |
| Intangibles | $563M | $751M | $886M | $963M | $1.10B | $1.01B | $1.09B | $1.19B | $1.32B | $1.06B | $1.14B | · | |
| Other Non-current Assets | $253M | $264M | $251M | $254M | $267M | $394M | $410M | $416M | $422M | $437M | $409M | · | |
| Total Assets | $4.61B | $5.64B | $5.94B | $6.21B | $6.61B | $6.88B | $7.25B | $8.26B | $8.62B | $10.00B | $10.07B | $10.91B | |
| Accounts Payable | $189M | $214M | $210M | $265M | $236M | $211M | $313M | $331M | $409M | $376M | $573M | · | |
| Accrued Liabilities | $213M | $256M | $208M | $269M | $251M | $272M | $271M | $328M | $324M | $313M | $488M | · | |
| Short-term Debt | · | $0 | $16M | $0 | $365M | $280M | $166M | $254M | $235M | $170M | $326M | · | |
| Current Liabilities | $423M | $490M | $456M | $553M | $934M | $813M | $757M | $1.08B | $968M | $1.24B | $1.44B | · | |
| Capital Leases | $85M | $99M | $106M | $94M | $110M | $114M | · | · | · | · | · | · | |
| Deferred Tax | $31M | $29M | $148M | $176M | $237M | $229M | $264M | $286M | $375M | $315M | $85M | · | |
| Other Non-current Liabilities | $299M | $286M | $291M | $325M | $349M | $432M | $453M | $422M | $400M | $361M | $405M | · | |
| Long-term Debt | $1.38B | $1.35B | $1.31B | $1.27B | $1.60B | $1.57B | · | · | $2.62B | $2.35B | $3.43B | · | |
| Total Debt | $1.38B | $1.35B | $1.33B | $1.27B | $1.97B | $1.85B | $1.67B | $2.53B | $2.82B | $3.24B | · | · | |
| Common Stock | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | |
| Retained Earnings | $2.30B | $3.31B | $3.60B | $3.65B | $2.80B | $2.65B | $3.22B | $2.75B | $2.70B | $2.70B | $3.28B | · | |
| AOCI | $-401M | $-448M | $-503M | $-569M | $-372M | $-383M | $-410M | $-291M | $-222M | $-281M | $-291M | · | |
| Stockholders' Equity | $1.90B | $2.87B | $3.10B | $3.22B | $2.75B | $3.04B | $3.57B | $3.41B | $3.41B | $3.35B | $3.04B | · | |
| Liabilities + Equity | $4.61B | $5.64B | $5.94B | $6.21B | $6.61B | $6.88B | $7.25B | $8.26B | $8.62B | $10.00B | $10.05B | · | |
| Shares Outstanding | · | · | · | · | · | 61,000,000 | 60,000,000 | 62,000,000 | 62,000,000 | 62,000,000 | 67,000,000 | · |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $237M | $274M | $243M | $241M | $244M | $235M | $277M | $277M | $265M | $302M | $306M | $393M | |
| Stock-based Comp | $14M | $15M | $22M | $18M | $15M | $14M | $21M | $27M | $20M | $30M | $30M | $34M | |
| Deferred Tax | $73M | $-302M | $-32M | $-35M | $-26M | $-42M | $18M | $-100M | $-26M | $-29M | $50M | $294M | |
| Amort. of Intangibles | $63M | $76M | $93M | $94M | $90M | $84M | $85M | $93M | $80M | $76M | $78M | $89M | |
| Restructuring | · | · | · | · | · | · | · | · | $1M | · | · | $99M | |
| Other Non-cash | $464M | $533M | $-175M | $-1.20B | $93M | $622M | $-736M | $-12M | $-138M | $399M | · | · | |
| Operating Cash Flow | $134M | $462M | $294M | $193M | $466M | $227M | $140M | $241M | $174M | $385M | $-256M | $580M | |
| CapEx | $98M | $137M | $170M | $113M | $105M | $133M | $147M | $157M | $168M | $231M | $220M | $248M | |
| Investing Cash Flow | $-3M | $-51M | $-109M | · | · | · | · | · | · | · | · | · | |
| Debt Issued | · | · | $0 | $0 | $450M | $804M | · | · | $1.10B | $0 | $1.10B | $0 | |
| Net Debt Issued | · | $0 | $0 | $-250M | $39M | $37M | $-797M | $-311M | $185M | $-345M | · | · | |
| Stock Repurchased | $100M | $380M | $300M | $200M | $450M | · | $200M | · | $0 | $500M | $397M | $954M | |
| Net Stock Activity | $-100M | $-380M | $-300M | $-200M | $-450M | · | $-200M | · | $0 | $-500M | · | · | |
| Dividends Paid | $76M | $78M | $76M | $70M | $70M | $66M | $64M | $60M | $77M | $97M | $98M | $103M | |
| Financing Cash Flow | $-179M | $-479M | $-371M | $-896M | $-426M | $9M | $-1.15B | $-368M | · | · | · | · | |
| Net Change in Cash | $-85M | $-117M | $-229M | $436M | $-244M | $222M | $-62M | $-272M | $-622M | $-69M | $-136M | $1.05B | |
| Taxes Paid | $33M | $53M | $63M | $406M | $1M | $91M | $67M | $77M | $79M | $108M | · | · | |
| Free Cash Flow | $36M | $325M | $124M | $80M | $361M | $175M | $74M | $159M | $56M | $403M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1% | 29.2% | 30.5% | 34.7% | 31.7% | 30.4% | 30.8% | 28.7% | 27.2% | 32.9% | · | · | |
| Operating Margin | -42.5% | -1.2% | 7.8% | 13.9% | 8.6% | -16.7% | 6.7% | 6.1% | 4.4% | 6.6% | · | · | |
| Net Margin | -46.3% | 8.0% | 8.1% | 38.8% | 10.4% | -21.8% | 20.3% | 3.0% | 0.03% | -0.59% | · | · | |
| Pretax Margin | -44.4% | -1.1% | 7.3% | 8.6% | 6.4% | -21.6% | 2.8% | 3.0% | -3.0% | 2.8% | · | · | |
| EBITDA Margin | -29.5% | 11.7% | 18.9% | 24.0% | 20.1% | -6.1% | 18.2% | 14.4% | 13.6% | 13.4% | · | · | |
| ROA | -16.5% | 2.9% | 2.9% | 14.5% | 3.3% | -7.2% | 6.5% | 1.4% | 0.01% | -0.29% | · | · | |
| ROE | -37.6% | 5.8% | 5.6% | 31.0% | 7.6% | -15.4% | 14.5% | 3.4% | 0.03% | -0.91% | · | · | |
| ROIC | -23.9% | 5.1% | 4.1% | 6.5% | 4.9% | -7.8% | 1.1% | 3.5% | 2.4% | 0.11% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.8 | 2.4 | 3.3 | 3.2 | 1.8 | 1.9 | 1.9 | 1.6 | 2.0 | 2.4 | · | · | |
| Quick Ratio | 1.1 | 1.1 | 1.7 | 1.9 | 0.6 | 1.1 | 0.9 | 0.9 | 1.2 | 1.7 | · | · | |
| Debt / Equity | 0.7 | 0.5 | 0.4 | 0.4 | 0.7 | 0.6 | 0.5 | 0.7 | 0.8 | 1.0 | · | · | |
| LT Debt / Equity | 0.7 | 0.5 | 0.4 | 0.4 | 0.6 | 0.5 | 0.4 | 0.7 | 0.8 | 0.9 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | · | · | |
| Inventory Turnover | 2.3 | 2.6 | 2.4 | 2.8 | 2.9 | 2.9 | 2.9 | 4.1 | 4.0 | 4.8 | · | · | |
| Receivables Turnover | 7.5 | 7.3 | 5.9 | 6.2 | 5.2 | 4.9 | 5.0 | 5.8 | 5.7 | 5.3 | · | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -13.7% | -3.6% | -8.4% | 13.3% | 4.7% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -8.6% | 0.03% | 2.8% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -2.0% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | 1.5% | -79.8% | 357.1% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | -2.2% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | · | -5.1% | -80.8% | 321.4% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | -8.4% | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 2.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.82B | $2.11B | $2.19B | $2.39B | $2.11B | $2.02B | $2.15B | $2.59B | $2.31B | $3.02B | · | · | |
| Net Income TTM | $-845M | $169M | $178M | $927M | $220M | $-508M | $505M | $114M | $1M | $-29M | · | · | |
| Market Cap | · | · | · | · | · | $4.33B | $4.62B | $5.20B | $4.05B | $3.52B | · | · | |
| Enterprise Value | · | · | · | · | · | $5.73B | $6.06B | $7.43B | $6.31B | $5.57B | · | · | |
| P/E | -2.6 | 25.9 | 24.7 | 5.8 | 24.8 | -8.5 | 9.5 | 46.8 | 6539.0 | -120.7 | · | · | |
| P/S | · | · | · | · | · | 2.1 | 2.2 | 2.0 | 1.8 | 1.2 | · | · | |
| P/B | · | · | · | · | · | 1.4 | 1.3 | 1.5 | 1.2 | 1.1 | · | · | |
| P / Tangible Book | · | · | · | · | · | 6.0 | · | · | · | · | · | · | |
| P / Cash Flow | · | · | · | · | · | 13.8 | 20.3 | 15.1 | 15.9 | 5.0 | · | · | |
| P / FCF | · | · | · | · | · | 24.7 | 62.5 | 32.7 | 72.4 | 8.7 | · | · | |
| EV / EBITDA | · | · | · | · | · | -40.6 | 13.3 | 13.8 | 14.2 | 8.4 | · | · | |
| EV / FCF | · | · | · | · | · | 32.7 | 81.9 | 46.8 | 112.6 | 13.8 | · | · | |
| EV / Revenue | · | · | · | · | · | 2.8 | 2.8 | 2.9 | 2.7 | 1.8 | · | · | |
| Dividend Yield | · | · | · | · | · | 1.5% | 1.4% | 1.1% | 1.9% | 2.8% | · | · | |
| Earnings Yield | -38.0% | 3.9% | 4.0% | 17.3% | 4.0% | -11.8% | 10.6% | 2.1% | 0.02% | -0.83% | · | · | |
| Payout Ratio | -9.0% | 46.2% | 42.7% | 7.5% | 31.8% | -13.0% | 12.7% | 52.6% | 7700.0% | -334.5% | · | · | |
| Annual Payout | $76M | $78M | $76M | $70M | $70M | $66M | $64M | $60M | $77M | $97M | · | · |
Income Statement 14
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $497M | $482M | $386M | $477M | $463M | $479M | $405M | $521M | $544M | $575M | $473M | $517M | $546M | $603M | $525M | $631M | |
| Cost of Revenue | $327M | $335M | $281M | $318M | $331M | $332M | $294M | $348M | $358M | $414M | $375M | $389M | $368M | $406M | $360M | $422M | |
| Gross Profit | $170M | $147M | $105M | $159M | $132M | $147M | $111M | $173M | $186M | $161M | $98M | $128M | $178M | $197M | $165M | $209M | |
| R&D Expense | $15M | $14M | $13M | $14M | $13M | $14M | $13M | $14M | $15M | $14M | $12M | $14M | $12M | $12M | $13M | $15M | |
| SG&A Expense | $99M | $79M | $86M | $75M | $106M | $85M | $78M | $101M | $114M | $106M | $83M | $109M | $84M | $79M | $93M | $94M | |
| Operating Income | $43M | $39M | $-6M | $61M | $-708M | $51M | $-179M | $32M | $-61M | $21M | $-18M | $-10M | $62M | $83M | $37M | $79M | |
| Pretax Income | $56M | $20M | $-15M | $65M | $-704M | $39M | $-209M | $25M | $-70M | $17M | $4M | $-38M | $57M | $91M | $50M | $59M | |
| Income Tax | $15M | $5M | $-1M | $32M | $15M | $9M | $-43M | $6M | $-101M | $-104M | $-24M | $-30M | $15M | $-1M | $8M | $-1M | |
| Net Income | $16M | $16M | $-12M | $31M | $-742M | $31M | $-165M | $17M | $6M | $120M | $26M | $-3M | $50M | $91M | $40M | $57M | |
| EPS (Basic) | $0.35 | $0.34 | $-0.26 | $0.83 | $-16.21 | $0.65 | $-3.50 | $0.35 | $0.12 | $2.42 | $0.51 | $-0.04 | $0.96 | $1.70 | $0.74 | $1.30 | |
| EPS (Diluted) | $0.35 | $0.34 | $-0.26 | $0.83 | $-16.21 | $0.65 | $-3.50 | $0.34 | $0.12 | $2.39 | $0.51 | $-0.03 | $0.94 | $1.67 | $0.73 | $1.24 | |
| Shares (Basic) | 46 | 46 | 46 | -47,000,047 | 46 | 47 | 47 | -102,000,000 | 50,000,000 | 50,000,000 | 51,000,000 | -107,000,000 | 52,000,000 | 54,000,000 | 54,000,000 | -112,000,000 | |
| Shares (Diluted) | 46 | 46 | 46 | -47,000,047 | 46 | 47 | 47 | -103,000,000 | 51,000,000 | 51,000,000 | 51,000,000 | -109,000,000 | 53,000,000 | 55,000,000 | 55,000,000 | -114,000,000 | |
| EBITDA | $43M | $39M | $42M | · | $-708M | $51M | $-128M | · | $-61M | $21M | $59M | · | $62M | $83M | $96M | · |
Balance Sheet 26
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $440M | $343M | $304M | $215M | $207M | $168M | $219M | $300M | $399M | $439M | $440M | · | $349M | $399M | $532M | · | |
| Receivables | $256M | $244M | $190M | $242M | $201M | $226M | $163M | $243M | $224M | $260M | $194M | · | $345M | $395M | $351M | · | |
| Inventory | $490M | $506M | $565M | $568M | $567M | $542M | $528M | $545M | $532M | $550M | $588M | · | $712M | $730M | $724M | · | |
| Other Current Assets | $106M | $116M | $95M | $180M | $149M | $139M | $127M | $107M | $189M | $178M | $143M | · | $120M | $107M | $117M | · | |
| Current Assets | $1.29B | $1.21B | $1.15B | $1.21B | $1.12B | $1.07B | $1.07B | $1.20B | $1.39B | $1.43B | $1.36B | · | $1.53B | $1.63B | $1.72B | · | |
| PP&E (Net) | $1.15B | $1.16B | $1.18B | $1.20B | $1.20B | $1.22B | $1.23B | $1.30B | $1.29B | $1.34B | $1.37B | · | $1.35B | $1.35B | $1.35B | · | |
| PP&E (Gross) | $3.38B | $3.36B | $3.36B | $3.35B | $3.34B | $3.26B | $3.23B | $3.32B | $3.27B | $3.30B | $3.28B | · | $3.19B | $3.16B | $3.12B | · | |
| Accum. Depreciation | $2.23B | $2.20B | $2.18B | $2.15B | $2.13B | $2.04B | $1.99B | $2.01B | $1.97B | $1.96B | $1.91B | · | $1.84B | $1.81B | $1.77B | · | |
| Goodwill | $700M | $700M | $707M | $705M | $705M | $1.36B | $1.33B | $1.38B | $1.35B | $1.38B | $1.40B | $1.36B | $1.38B | $1.39B | $1.37B | $1.31B | |
| Intangibles | $513M | $529M | $548M | $563M | $578M | $580M | $588M | $751M | $761M | $851M | $875M | · | $916M | $940M | $959M | · | |
| Other Non-current Assets | $243M | $242M | $251M | $253M | $259M | $265M | $264M | $264M | $256M | $257M | $256M | · | $254M | $250M | $256M | · | |
| Total Assets | $4.58B | $4.50B | $4.52B | $4.61B | $4.62B | $5.23B | $5.23B | $5.64B | $5.75B | $5.95B | $5.87B | · | $6.03B | $6.18B | $6.26B | · | |
| Accounts Payable | $198M | $181M | $167M | $189M | $185M | $185M | $184M | $214M | $198M | $207M | $202M | · | $210M | $246M | $246M | · | |
| Accrued Liabilities | $208M | $195M | $180M | $213M | $216M | $209M | $207M | $256M | $230M | $225M | $190M | · | $201M | $206M | $200M | · | |
| Short-term Debt | · | · | · | · | · | $50M | · | · | $0 | $0 | $0 | · | · | · | · | · | |
| Current Liabilities | $424M | $395M | $366M | $423M | $420M | $463M | $425M | $490M | $464M | $453M | $414M | · | $432M | $472M | $464M | · | |
| Capital Leases | $84M | $85M | $83M | $85M | $84M | $82M | $83M | $99M | $100M | $101M | $107M | · | $109M | $108M | $95M | · | |
| Deferred Tax | $31M | $31M | $31M | $31M | $28M | $29M | $28M | $29M | $43M | $148M | $148M | · | $176M | $175M | $176M | · | |
| Other Non-current Liabilities | $308M | $290M | $303M | $299M | $303M | $263M | $279M | $286M | $324M | $288M | $293M | · | $290M | $280M | $326M | · | |
| Long-term Debt | $1.37B | $1.37B | $1.39B | $1.38B | $1.38B | $1.34B | $1.31B | $1.35B | $1.32B | $1.33B | $1.34B | · | · | · | · | · | |
| Total Debt | $1.37B | $1.37B | $1.39B | · | $1.38B | $1.39B | $1.31B | · | $1.32B | $1.33B | $1.34B | · | $1.33B | $1.33B | $1.32B | · | |
| Common Stock | · | · | · | $1M | · | · | · | $1M | · | · | · | · | · | · | · | · | |
| Retained Earnings | · | · | · | $2.30B | · | · | · | $3.31B | · | · | · | · | · | · | · | · | |
| AOCI | · | · | · | $-401M | · | · | · | $-448M | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $1.87B | $1.87B | $1.88B | $1.90B | $1.89B | $2.56B | $2.59B | $2.87B | $2.97B | $3.13B | $3.05B | · | $3.15B | $3.27B | $3.32B | · | |
| Liabilities + Equity | $4.58B | $4.50B | $4.52B | $4.61B | $4.62B | $5.23B | $5.23B | $5.64B | $5.75B | $5.95B | $5.87B | · | $6.03B | $6.18B | $6.26B | · |
Cash Flow 13
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $48M | $45M | $48M | $50M | $76M | $60M | $51M | $53M | $61M | $83M | $77M | $62M | $61M | $61M | $59M | $59M | |
| Stock-based Comp | $4M | $5M | $4M | $3M | $2M | $5M | $4M | $5M | $3M | $6M | $1M | $5M | $5M | $5M | $7M | $4M | |
| Amort. of Intangibles | $15M | $15M | $15M | $16M | $15M | $15M | $17M | $16M | $19M | $20M | $21M | $23M | $24M | $23M | $23M | $23M | |
| Other Non-cash | · | · | $183M | · | · | · | $-29M | · | · | · | $264M | · | · | · | $-258M | · | |
| Operating Cash Flow | $120M | $50M | $125M | $40M | $115M | $9M | $-30M | $80M | $127M | $54M | $201M | $131M | $136M | $56M | $-29M | $179M | |
| CapEx | $20M | $17M | $14M | $34M | $20M | $21M | $23M | $38M | $29M | $34M | $36M | $69M | $43M | $35M | $23M | $46M | |
| Investing Cash Flow | $4M | $16M | $2M | $-3M | $1M | $17M | $-18M | $3M | $-5M | $-23M | $-26M | $-52M | $-12M | $-18M | $-27M | · | |
| Stock Repurchased | $0 | · | · | $0 | $0 | $100M | $0 | $150M | $130M | $0 | $100M | $0 | $158M | $142M | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | $0 | · | · | · | $-100M | · | · | · | · | · | |
| Dividends Paid | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $20M | $19M | $20M | $20M | $20M | $18M | $18M | $18M | |
| Financing Cash Flow | $-20M | $-19M | $-21M | $-18M | $-70M | $-69M | $-22M | $-169M | $-151M | $-20M | $-139M | $-5M | $-178M | $-161M | $-27M | $-20M | |
| Net Change in Cash | $97M | $39M | $89M | $8M | $39M | $-51M | $-81M | $-99M | $-40M | $-1M | $23M | $68M | $-50M | $-133M | $-114M | $17M | |
| Free Cash Flow | · | · | $111M | · | · | · | $-53M | · | · | · | $165M | · | · | · | $-52M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.2% | 30.5% | 27.2% | · | 28.5% | 30.7% | 27.4% | · | 34.2% | 28.0% | 20.7% | · | 32.6% | 32.7% | 31.4% | · | |
| Operating Margin | 8.6% | 8.1% | -1.6% | · | -152.9% | 10.7% | -44.2% | · | -11.2% | 3.6% | -3.8% | · | 11.4% | 13.8% | 7.0% | · | |
| Net Margin | 3.2% | 3.3% | -3.1% | · | -160.3% | 6.5% | -40.7% | · | 1.1% | 20.9% | 5.5% | · | 9.2% | 15.1% | 7.6% | · | |
| Pretax Margin | 11.3% | 4.2% | -3.9% | · | -152.0% | 8.1% | -51.6% | · | -12.9% | 3.0% | 0.85% | · | 10.4% | 15.1% | 9.5% | · | |
| EBITDA Margin | 8.6% | 8.1% | 10.9% | · | -152.9% | 10.7% | -31.6% | · | -11.2% | 3.6% | 12.5% | · | 11.4% | 13.8% | 18.3% | · | |
| ROA | 0.35% | 0.33% | -0.25% | · | -14.3% | 0.55% | -3.0% | · | 0.10% | 2.0% | 0.43% | · | 0.80% | 1.4% | 0.62% | · | |
| ROE | 0.85% | 0.72% | -0.54% | · | -30.6% | 1.1% | -5.9% | · | 0.20% | 3.8% | 0.82% | · | 1.6% | 2.7% | 1.3% | · | |
| ROIC | 0.97% | 0.90% | -0.17% | · | -22.1% | 0.99% | -3.6% | · | 0.63% | 3.4% | -2.9% | · | 1.0% | 1.8% | 0.67% | · |
Liquidity & Solvency 4
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.0 | 3.1 | 3.2 | · | 2.7 | 2.3 | 2.5 | · | 3.0 | 3.2 | 3.3 | · | 3.5 | 3.5 | 3.7 | · | |
| Quick Ratio | 1.6 | 1.5 | 1.3 | · | 1.0 | 0.9 | 0.9 | · | 1.3 | 1.5 | 1.5 | · | 1.6 | 1.7 | 1.9 | · | |
| Debt / Equity | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.5 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | |
| LT Debt / Equity | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.5 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | |
| Inventory Turnover | 0.6 | 0.6 | 0.5 | · | 0.6 | 0.6 | 0.5 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | |
| Receivables Turnover | 2.2 | 2.1 | 2.2 | · | 2.2 | 2.0 | 2.3 | · | 1.9 | 1.8 | 1.7 | · | 1.3 | 1.5 | 1.5 | · |
Valuation (TTM) 5
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.83B | $1.81B | $1.73B | · | $1.89B | $2.00B | $2.00B | · | $2.14B | $2.20B | $2.15B | · | $2.32B | $2.38B | $2.29B | · | |
| Net Income TTM | $-722M | $-707M | $-888M | · | $-870M | $-8M | $-13M | · | $202M | $287M | $207M | · | $217M | $953M | $910M | · | |
| P/E | -4.2 | -3.6 | -3.0 | · | -2.7 | -174.4 | -148.9 | · | 23.9 | 17.7 | 21.9 | · | 21.8 | 6.1 | 6.8 | · | |
| Earnings Yield | -23.9% | -27.8% | -32.9% | · | -37.7% | -0.57% | -0.67% | · | 4.2% | 5.7% | 4.6% | · | 4.6% | 16.3% | 14.8% | · | |
| Payout Ratio | · | · | -158.3% | · | · | · | -11.5% | · | · | · | 76.9% | · | · | · | 45.0% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Revenue | $1.82B | $2.11B | $2.19B | $2.39B | $2.11B |
| Gross Margin % | 30.1% | 29.2% | 30.5% | 34.7% | 31.7% |
| Operating Margin % | -42.5% | -1.2% | 7.8% | 13.9% | 8.6% |
| Net Income | $-845M | $169M | $178M | $927M | $220M |
| Diluted EPS | $-18.23 | $3.36 | $3.31 | $16.41 | $3.59 |
Balance Sheet
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.7 | 0.5 | 0.4 | 0.4 | 0.7 |
| Current Ratio | 2.8 | 2.4 | 3.3 | 3.2 | 1.8 |
| Quick Ratio | 1.1 | 1.1 | 1.7 | 1.9 | 0.6 |
Cash Flow
| 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $36M | $325M | $124M | $80M | $361M |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 384 filers · $2.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 74 (+17 vs prior Q) | 50 (+15 vs prior Q) | 93 (-22 vs prior Q) | 121 (+18 vs prior Q) | +3.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Standard Investments LLC | $298,152,316 | 4,525,001 | 13.94% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $162,276,396 | 2,462,838 | 7.59% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $156,630,265 | 2,377,149 | 7.33% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $135,934,694 | 2,063,055 | 6.36% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $131,773,923 | 1,999,908 | 6.16% | Shares |
| COOPERMAN LEON G | $124,861,550 | 1,895,000 | 5.84% | Shares |
| STATE STREET CORP | $124,637,129 | 1,891,594 | 5.83% | Shares |
| Diamond Hill Capital Management, LLC (Investment Advisor) | $105,471,045 | 1,600,714 | 4.93% | Shares |
| 1832 Asset Management L.P. | $92,847,180 | 1,409,124 | 4.34% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $67,226,113 | 1,020,040 | 3.14% | Shares |
| AMERICAN CENTURY COMPANIES INC | $60,568,658 | 919,239 | 2.83% | Shares |
| Empyrean Capital Partners, LP | $35,712,380 | 542,000 | 1.67% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $35,609,855 | 540,444 | 1.67% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $35,091,000 | 532,566 | 1.64% | Shares |
| ATLANTIC INVESTMENT MANAGEMENT, INC. | $33,538,010 | 509,000 | 1.57% | Shares |
| Point72 Asset Management, L.P. | $31,837,719 | 483,195 | 1.49% | Shares |
| Newport Trust Company, LLC | $29,063,605 | 441,093 | 1.36% | Shares |
| Gotham Asset Management, LLC | $23,869,180 | 362,258 | 1.12% | Shares |
| CRAMER ROSENTHAL MCGLYNN LLC | $22,319,776 | 338,743 | 1.04% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $20,034,316 | 304,057 | 0.94% | Shares |
| SHAPIRO CAPITAL MANAGEMENT LLC | $16,766,040 | 254,455 | 0.78% | Shares |
| Retirement Systems of Alabama | $12,403,199 | 188,241 | 0.58% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $12,161,317 | 184,570 | 0.57% | Shares |
| CANYON CAPITAL ADVISORS LLC | $11,794,310 | 179,000 | 0.55% | Shares |
| MACKENZIE FINANCIAL CORP | $11,555,129 | 175,370 | 0.54% | Shares |
| GLENMEDE TRUST CO NA | $11,482,716 | 174,271 | 0.54% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,234,245 | 170,500 | 0.53% | Call option |
| BANK OF AMERICA CORP /DE/ | $11,093,833 | 168,369 | 0.52% | Shares |
| GOLDMAN SACHS GROUP INC | $10,932,073 | 165,914 | 0.51% | Shares |
| Glenmede Investment Management, LP | $10,369,161 | 216,430 | 0.48% | Shares |
| RHUMBLINE ADVISERS | $10,310,369 | 156,479 | 0.48% | Shares |
| Quantinno Capital Management LP | $10,111,260 | 153,456 | 0.47% | Shares |
| Allianz Asset Management GmbH | $9,326,268 | 141,543 | 0.44% | Shares |
| Point72 Asset Management, L.P. | $8,592,056 | 130,400 | 0.40% | Call option |
| FIFTH THIRD BANCORP | $8,445,666 | 128,178 | 0.40% | Shares |
| RAYMOND JAMES FINANCIAL INC | $6,147,043 | 93,293 | 0.29% | Shares |
| CITADEL ADVISORS LLC | $6,048,702 | 91,800 | 0.28% | Call option |
| Walleye Trading LLC | $5,595,181 | 84,917 | 0.26% | Shares |
| Swiss National Bank | $5,594,061 | 84,900 | 0.26% | Shares |
| NEUBERGER BERMAN GROUP LLC | $5,409,289 | 82,096 | 0.25% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,961,246 | 89,215 | 0.23% | Shares |
| Cruiser Capital Advisors, LLC | $4,400,398 | 66,784 | 0.21% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $4,317,903 | 65,532 | 0.20% | Shares |
| XTX Topco Ltd | $4,123,923 | 62,588 | 0.19% | Shares |
| GAMCO INVESTORS, INC. ET AL | $4,057,704 | 61,583 | 0.19% | Shares |
| FIRST TRUST ADVISORS LP | $3,935,741 | 59,732 | 0.18% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,889,948 | 59,037 | 0.18% | Shares |
| Cubist Systematic Strategies, LLC | $3,865,449 | 80,682 | 0.18% | Shares |
| IEQ CAPITAL, LLC | $3,645,554 | 55,328 | 0.17% | Shares |
| Quantbot Technologies LP | $3,550,746 | 53,889 | 0.17% | Shares |
| GABELLI FUNDS LLC | $3,472,403 | 52,700 | 0.16% | Shares |
| Oak Thistle LLC | $3,453,229 | 52,409 | 0.16% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $3,440,560 | 54,830 | 0.16% | Shares |
| CWM, LLC | $3,396,955 | 61,085 | 0.16% | Shares |
| AMERIPRISE FINANCIAL INC | $3,339,174 | 50,678 | 0.16% | Shares |
| MetLife Investment Management, LLC | $3,186,968 | 48,368 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,070,474 | 46,600 | 0.14% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,064,445 | 55,106 | 0.14% | Shares |
| STIFEL FINANCIAL CORP | $2,995,306 | 45,458 | 0.14% | Shares |
| Verition Fund Management LLC | $2,929,931 | 44,467 | 0.14% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $2,849,029 | 43,811 | 0.13% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,841,177 | 43,120 | 0.13% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,768,764 | 42,021 | 0.13% | Shares |
| PEAK6 LLC | $2,665,119 | 40,448 | 0.12% | Shares |
| Arax Advisory Partners | $2,641,860 | 40,095 | 0.12% | Shares |
| VeriStar Capital Management LP | $2,596,902 | 43,800 | 0.12% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $2,460,860 | 37,348 | 0.12% | Shares |
| ALTRINSIC GLOBAL ADVISORS LLC | $2,436,217 | 36,974 | 0.11% | Shares |
| Neo Ivy Capital Management | $2,424,422 | 36,795 | 0.11% | Shares |
| D. E. Shaw & Co., Inc. | $2,419,151 | 36,715 | 0.11% | Shares |
| BlackRock, Inc. | $2,361,366 | 35,838 | 0.11% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $2,198,354 | 33,364 | 0.10% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $2,166,059 | 32,874 | 0.10% | Shares |
| MARSHALL WACE, LLP | $2,123,503 | 32,228 | 0.10% | Shares |
| LPL Financial LLC | $2,089,182 | 31,707 | 0.10% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $2,077,972 | 31,537 | 0.10% | Shares |
| TWO SIGMA ADVISERS, LP | $2,059,317 | 35,100 | 0.10% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $1,980,192 | 30,053 | 0.09% | Shares |
| AXA Investment Managers S.A. | $1,964,310 | 41,000 | 0.09% | Shares |
| GUGGENHEIM CAPITAL LLC | $1,947,050 | 29,550 | 0.09% | Shares |
| MORGAN STANLEY | $1,813,622 | 27,525 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,803,412 | 27,370 | 0.08% | Shares |
| Schonfeld Strategic Advisors LLC | $1,773,296 | 26,913 | 0.08% | Shares |
| Legal & General Group Plc | $1,759,790 | 26,708 | 0.08% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $1,747,261 | 26,518 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $1,581,360 | 24,000 | 0.07% | Put option |
| Keeley-Teton Advisors, LLC | $1,536,915 | 25,922 | 0.07% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $1,534,892 | 27,601 | 0.07% | Shares |
| CAXTON ASSOCIATES LLP | $1,441,212 | 21,873 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,404,050 | 21,309 | 0.07% | Shares |
| State of New Jersey Common Pension Fund D | $1,390,015 | 21,096 | 0.07% | Shares |
| BARCLAYS PLC | $1,355,885 | 20,578 | 0.06% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,349,098 | 20,475 | 0.06% | Shares |
| Great Lakes Retirement, Inc. | $1,345,067 | 20,414 | 0.06% | Shares |
| S.A.C. Capital Advisors (Hong Kong) Ltd. | $1,328,991 | 27,739 | 0.06% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,306,920 | 19,835 | 0.06% | Shares |
| IMC-Chicago, LLC | $1,303,765 | 19,787 | 0.06% | Shares |
| Corient Private Wealth LP | $1,275,491 | 19,358 | 0.06% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,265,088 | 19,200 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $1,173,699 | 17,813 | 0.05% | Shares |
Company insiders 50 insiders · 24 officers · 24 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Guillermo Novo | Chair of the Board and CEO | Feb. 6, 2026 A | 140,849 | 0 | 0 | $0 |
| William A Wulfsohn | Chief Executive Officer | Nov. 18, 2019 M | 125,406 | 0 | 0 | $0 |
| William Whitaker | SVP, CFO & PFO | Nov. 19, 2025 A | 2,049 | 0 | 0 | $0 |
| Kevin J Willis | SVP and CFO | Nov. 19, 2024 F | 232,716 | 0 | 0 | $0 |
| Osama M Musa | SVP and CTO | July 29, 2026 M | 30,806 | 0 | 0 | $0 |
| Alessandra Faccin Assis | SVP and GM, Life Sciences | July 27, 2026 M | 8,215 | 0 | 0 | $0 |
| James P. Minicucci | SVP and GM, Personal Care | May 8, 2026 M | 7,221 | 0 | 0 | $0 |
| Samuel Richardson | VP, Controller and PAO | Nov. 19, 2025 A | 1,072 | 0 | 0 | $0 |
| Dago Caceres | SVP & GM, Specialty Additives | Nov. 19, 2025 A | 531 | 0 | 0 | $0 |
| Eileen Drury | SVP and Chief HRO | Nov. 19, 2025 A | 7,601 | 0 | 0 | $0 |
| Eric N Boni | VP, Finance & Prinpl Acctg Off | Dec. 4, 2024 M | 14,633 | 0 | 0 | $0 |
| Karl R. Bostaph | Senior VP Operations | Nov. 19, 2024 F | 7,012 | 0 | 0 | $0 |
| Min Chong | SVP, Gen. Mgr. | Jan. 2, 2024 F | 12,723 | 0 | 0 | $0 |
| Swaminathan Ashok Kalyana | Sr VP & Gen Mgr, Life Sciences and Interm. | Nov. 18, 2023 M | 3,359 | 0 | 0 | $0 |
| ASHLAND GLOBAL HOLDINGS INC | Sr. Vice President | Nov. 18, 2023 M | 19,437 | 0 | 0 | $0 |
| ASHLAND LLC | SVP, OPERATIONS | Nov. 17, 2023 F | 5,268 | 0 | 0 | $0 |
| Von Mohrenfels Petra Yvonne Winkler | Sr. VP, GC and Secretary | Feb. 9, 2023 M | 6,139 | 0 | 0 | $0 |
| Xiaolan Wang | Sr VP & Gen Mgr, Personal Care | Feb. 3, 2023 M | 440 | 0 | 0 | $0 |
| Peter Ganz | Senior Vice President | Nov. 30, 2020 S | 41,532 | 0 | 0 | $0 |
| Vito J Consiglio | Sr. Vice President | Nov. 18, 2019 M | 4,243 | 0 | 0 | $0 |
| Anne T. Schumann | Senior Vice President | Nov. 18, 2019 M | 14,535 | 0 | 0 | $0 |
| William J Heitman | Controller | Nov. 18, 2019 M | 6,303 | 0 | 0 | $0 |
| Luis M Fernandez-Moreno | Senior Vice President | Feb. 22, 2017 M | 45,990 | 0 | 0 | $0 |
| Greg W Elliott | Vice President | Nov. 18, 2016 M | 289 | 0 | 0 | $0 |
| Sanat Chattopadhyay | Director | June 30, 2026 A | — | 0 | 0 | $0 |
| Steven D Bishop | Director | June 30, 2026 A | — | 0 | 0 | $0 |
| Bertrand Loy | Director | May 15, 2026 A | — | 0 | 0 | $0 |
| Ashish K Kulkarni | Director | Jan. 21, 2026 M | 2,113 | 0 | 0 | $0 |
| Suzan F. Harrison | Director | Jan. 20, 2026 A | 1,931 | 0 | 0 | $0 |
| Scott Tozier | Director | Jan. 20, 2026 A | — | 0 | 0 | $0 |
| Jerome A Peribere | Director | Jan. 20, 2026 A | 1,883 | 0 | 0 | $0 |
| Sue Main | Director | Jan. 20, 2026 A | 1,883 | 0 | 0 | $0 |
| Sergio Pedreiro | Director | Jan. 21, 2025 A | — | 0 | 0 | $0 |
| Janice Teal | Director | Dec. 31, 2024 A | 1,883 | 0 | 0 | $0 |
| Wetteny Joseph | Director | Jan. 23, 2024 A | — | 0 | 0 | $0 |
| Brendan Cummins | Director | Jan. 24, 2023 A | — | 0 | 0 | $0 |
| Jay V Ihlenfeld | Director | Jan. 24, 2023 A | 1,883 | 0 | 0 | $0 |
| William G Dempsey | Director | Dec. 30, 2022 J | 1,883 | 0 | 0 | $0 |
| Ricky C. Sandler | Director | Jan. 24, 2022 A | — | 0 | 0 | $0 |
| Kathleen Wilson-Thompson | Director | Jan. 30, 2020 A | 1,883 | 0 | 0 | $0 |
| Craig A Rogerson | Director | Jan. 30, 2020 A | — | 0 | 0 | $0 |
| Mark C Rohr | Director | Jan. 30, 2020 A | 6,883 | 0 | 0 | $0 |
| Michael J Ward | Director | March 29, 2019 J | 1,883 | 0 | 0 | $0 |
| Barry W Perry | Director | Jan. 25, 2019 I | 1,883 | 0 | 0 | $0 |
| George A Schaefer JR | Director | June 2, 2017 A | 4,619 | 0 | 0 | $0 |
| Vada O Manager | Director | Dec. 30, 2016 J | — | 0 | 0 | $0 |
| Robin E. Lampkin | — | Aug. 11, 2026 M | 6,299 | 0 | 0 | $0 |
| Peter T Thomas | — | July 27, 2026 A | — | 0 | 0 | $0 |
| Allen A Spizzo | — | July 27, 2026 A | — | 0 | 0 | $0 |
| Keith C Silverman | — | Nov. 18, 2020 M | 7,512 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Standard Investments LLC, SI GP III LLC, Standard Latitude Master Fund Ltd., Standard Latitude Fund LP, David S. Winter, David J. Millstone ×4 filings | May 18, 2026 | 8.94% | Amendment | Passive investment | SEC |
| Eminence Capital, LP, Ricky C. Sandler ×6 filings | Jan. 31, 2025 | 0.00% | Amendment | — | SEC |
| Cruiser Capital Advisors, LLC, Keith M. Rosenbloom, Allen A. Spizzo, Patrick E. Gottschalk ×4 filings | Jan. 24, 2019 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 64 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| MVFD · Northern Lights Fund Trust IV | 2.83% | 52,962 NS | May 31, 2026 | N-PORT |
| FXZ · First Trust Exchange-Traded AlphaDE… | 0.76% | 54,799 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.22% | 431,869 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.20% | 40,617 SH | Aug. 8, 2026 | Daily |
| IJJ · iShares Trust | 0.19% | 233,471 SH | Aug. 8, 2026 | Daily |
| VAW · VANGUARD WORLD FUND | 0.18% | 124,069 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.17% | 100,011 SH | Aug. 8, 2026 | Daily |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.17% | 39,321 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.17% | 239,469 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.16% | 78,405 NS | May 31, 2026 | N-PORT |
| FMAT · FIDELITY COVINGTON TRUST | 0.16% | 17,689 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 17,083 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.11% | 1,658 NS | April 30, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.11% | 62 NS | May 29, 2026 | N-PORT |
| IWM · iShares Trust | 0.11% | 1,174,991 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.11% | 6,228 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.10% | 269,094 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.09% | 5,417 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.09% | 9,014 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.09% | 1,579,517 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.09% | 267,443 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.08% | 14,835 SH | Aug. 8, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.08% | 73,878 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.07% | 5,094 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.06% | 666,952 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.06% | 152,842 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.06% | 1,581 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.06% | 220,400 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.05% | 759 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.05% | 1,858 SH | Aug. 8, 2026 | Daily |
| UMDD · ProShares Trust | 0.04% | 221 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.04% | 1,049,482 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 1,233 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 2,822 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.03% | 2,273 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 525,698 SH | Aug. 8, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.03% | 3,402 SH | Aug. 8, 2026 | Daily |
| PRF · Invesco Exchange-Traded Fund Trust | 0.03% | 36,315 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.02% | 8,316 NS | April 30, 2026 | N-PORT |
| FNDX · SCHWAB STRATEGIC TRUST | 0.02% | 87,975 NS | May 31, 2026 | N-PORT |
| SFGV · EA Series Trust | 0.02% | 3,423 NS | May 29, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.02% | 4,185 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,848 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 7,678 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.01% | 1,036 NS | May 31, 2026 | N-PORT |
| PFM · Invesco Exchange-Traded Fund Trust | 0.01% | 1,303 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.01% | 92,173 NS | April 30, 2026 | N-PORT |
| IUSV · iShares Trust | 0.01% | 41,674 SH | Aug. 8, 2026 | Daily |
| VYM · VANGUARD WHITEHALL FUNDS | 0.01% | 182,034 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.01% | 27,009 NS | April 30, 2026 | N-PORT |