Analyst Ratings

Date	Action	Analyst	Rating	Target
Jun-11-26	Reiterated	Redburn Partners		$125 → $110
May-11-26	Reiterated	UBS	Buy	$145 → $150
Apr-30-26	Reiterated	Loop Capital Markets		$121 → $118
Apr-10-26	Reiterated	Morgan Stanley	Equal Weight	$123 → $138
Apr-09-26	Reiterated	Loop Capital Markets		$145 → $129
Apr-09-26	Downgrade	TD Cowen	Buy → Hold
Apr-08-26	Resumed	Keefe Bruyette	Outperform	$145
Feb-10-26	Reiterated	Morgan Stanley	Equal Weight	$162 → $123
Feb-09-26	Reiterated	Loop Capital Markets		$181 → $203
Feb-06-26	Reiterated	Loop Capital Markets		$131 → $130

Financial Statements

DataTimeframe

Line Item (USD, M)	TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023
Total Revenue	2,161	2,052	1,726	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	692	671	593
Gross Profit	1,469	1,382	1,133
Selling, General and Administrative Excl. Other	302	296	235
Research and Development	23	0	0
Other Operating Expense	215	240	220
Operating Income	928	845	678
Interest Expense	2	2	4
Unusual Expense	—	—	—
Non-Operating Income (Expense)	-330	-332	-81
Net Income Before Taxes	1,257	1,175	754
Income Taxes	271	253	184
Consolidated Net Income	870	813	502
Net Income From Continuing Operations	987	922	570
Net Income	870	813	502
EPS (Recurring)	4.07	3.81	2.36
EPS (Basic, Before Extraordinaries)	4.07	3.81	2.36
EPS (Diluted)	4.04	3.78	2.34
EBITDA	1,506	1,427	979
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	24.63	28.45	—
Price To Sales Ratio	9.81	11.16	—
Gross Margin	67.98	67.35	65.64
Operating Margin	42.94	41.18	39.28
Net Margin	40.26	39.62	29.08
Shares Outstanding	213	213	213
Market Capitalization	21,191	22,906	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Peterson Justin	Chief Technology Officer	Jun 01 '26	Sale	102.00	21,221	2,164,542	15,070	Jun 02 12:00 AM
BERNS STEVEN	Director	May 26 '26	Sale	105.26	425	44,736	4,884	May 27 12:00 AM
Peterson Justin	Chief Technology Officer	Apr 15 '26	Sale	120.66	21,221	2,560,496	36,291	Apr 17 12:00 AM
Furber Sara	Chief Financial Officer	Mar 23 '26	Sale	124.86	1,614	201,524	22,264	Mar 24 12:00 AM
Friedman Douglas	Chief Legal Officer	Mar 23 '26	Sale	124.86	592	73,917	13,921	Mar 24 12:00 AM
Furber Sara	Chief Financial Officer	Mar 20 '26	Sale	125.13	4,911	614,523	23,878	Mar 24 12:00 AM
Peterson Justin	Chief Technology Officer	Mar 20 '26	Sale	125.13	1,005	125,761	57,512	Mar 24 12:00 AM
Clack Amy	Chief Administrative Officer	Mar 20 '26	Sale	125.75	271	34,078	21,557	Mar 24 12:00 AM
Dixon Troy	MD, Co-Head of Global Markets	Mar 20 '26	Sale	125.75	2,584	324,938	34,993	Mar 24 12:00 AM
Friedman Douglas	Chief Legal Officer	Mar 20 '26	Sale	125.12	2,219	277,649	14,513	Mar 24 12:00 AM
Peterson Justin	Chief Technology Officer	Mar 18 '26	Sale	124.76	3,212	400,716	58,517	Mar 19 12:00 AM
Hult William	Chief Executive Officer	Mar 03 '26	Option Exercise	20.59	144,900	2,983,492	199,188	Mar 05 12:00 AM
Hult William	Chief Executive Officer	Mar 03 '26	Sale	125.62	72,450	9,101,162	126,738	Mar 05 12:00 AM
Bruni Enrico	MD, Co-Head of Global Markets	Feb 20 '26	Sale	119.27	17,380	2,072,913	102,319	Feb 23 12:00 AM
Friedman Douglas	Chief Legal Officer	Feb 10 '26	Sale	115.46	30,549	3,527,231	13,128	Feb 12 12:00 AM


Market Cap	21.47B	Forward P/E	21.76	EPS next Y	4.57	Insider Trans	-0.04%	Shs Float	-	Perf Month	-10.24%


Enterprise Value	19.68B	PEG	0.38	EPS next Q	0.97	Inst Own	-	Short Float	-	Perf Quarter	-21.05%


Income	871.87M	P/S	9.94	EPS this Y	0.27%	Inst Trans	-	Short Ratio	-	Perf Half Y	-4.18%


Sales	2.16B	P/B	3.24	EPS next Y	12.87%	ROA	10.48%	Short Interest	-	Perf YTD	-7.49%


Book/sh	34.32	P/C	17.69	EPS next 5Y	17.98%	ROE	13.64%	52W High	147.48 -32.54%	Perf Year	-28.84%


Cash/sh	9.10	P/FCF	19.00	EPS past 3/5Y	-	ROIC	9.57%	52W Low	94.25 5.56%	Perf 3Y	-


Dividend Est.	0.52 (0.52%)	EV/EBITDA	13.06	Sales past 3/5Y	19.95% 18.10%	Gross Margin	67.98%	Volatility	2.21% 2.23%	Perf 5Y	-


Dividend TTM	0.52 (0.52%)	EV/Sales	9.11	EPS Y/Y TTM	57.69%	Oper. Margin	42.97%	ATR (14)	3.15	Perf 10Y	-


Dividend Ex-Date	Jun 01, 2026	Quick Ratio	3.64	Sales Y/Y TTM	25.20%	Profit Margin	40.25%	RSI (14)	39.84	Recom	2.63


Dividend Gr. 3/5Y	14.47% 8.45%	Current Ratio	3.64	EPS Q/Q	25.58%	SMA20	-1.49%	Beta	0.00	Target Price	127.67


Payout	12.25%	Debt/Eq	0.02	Sales Q/Q	21.18%	SMA50	-8.54%	Rel Volume	0.93	Prev Close	100.77


Employees	1,412	LT Debt/Eq	0.04	Earnings	Jul 30	SMA200	-10.48%	Avg Volume	1.67M	Price	99.49


IPO Date	Apr 04, 2019	Option/Short	Yes / Yes	EPS/Sales Surpr.	1.89% 0.16%	Net Debt/EBITDA	-1.19	Volume	1,560,694	Change	-1.27%

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