# Tools & Accessories — company-by-company sector analysis

> Tools & Accessories: The Timken Company owns the largest revenue base; Kennametal Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice.

## Bottom line

Tools & Accessories has outperformed S&P 500 by 14.2% over 52 weeks and 4.9% over 13 weeks. 7 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 9 beat the sector itself. The Timken Company leads with revenue of $4,672 million, based on 3 of 9 comparable companies through Mar 2026.

## Sector relative strength

Tools & Accessories has outperformed S&P 500 by 14.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.9%. 7 of 9 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. The Timken Company is the strongest against the sector itself at +11.3%.

13-week sector return versus NIFTY 500: 4.9%
52-week sector return versus NIFTY 500: 14%
Stocks leading NIFTY: 7/9
Stocks leading sector: 2/9

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 9
Combined market value: ₹93.5K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Kennametal Inc. (KMT): 62/100 — Mixed-positive evidence; evidence 66%
   - Growth & earnings 22.8/35 | Capital efficiency 13.2/25 | Valuation 16.5/20 | Relative strength 9.9/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 22.8 + 13.2 + 16.5 + 9.9 = 62.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Stanley Black & Decker, Inc. (SWK): 57/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 18.7/35 | Capital efficiency 9.4/25 | Valuation 10.4/20 | Relative strength 18.9/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks
   - Exact sum: 18.7 + 9.4 + 10.4 + 18.9 = 57.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3. The Timken Company (TKR): 57/100 — Mixed-positive evidence; evidence 66%
   - Growth & earnings 15.4/35 | Capital efficiency 11.5/25 | Valuation 15.0/20 | Relative strength 15.3/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks
   - Exact sum: 15.4 + 11.5 + 15 + 15.3 = 57.2
   - Decision use: Price leads the evidence: RS versus the benchmark is 18.6%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4. Snap-on Incorporated (SNA): 56/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 15.5/35 | Capital efficiency 16.5/25 | Valuation 11.1/20 | Relative strength 12.7/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 15.5 + 16.5 + 11.1 + 12.7 = 55.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5. The Toro Company (TTC): 52/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 14.0/35 | Capital efficiency 14.7/25 | Valuation 14.3/20 | Relative strength 8.7/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 14 + 14.7 + 14.3 + 8.7 = 51.7
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
6. RBC Bearings Incorporated (RBC): 42/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 17.9/35 | Capital efficiency 12.0/25 | Valuation 8.5/20 | Relative strength 3.4/20
   - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 17.9 + 12 + 8.5 + 3.4 = 41.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Lincoln Electric Holdings, Inc. (LECO): 40/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 17.9/35 | Capital efficiency 9.1/25 | Valuation 9.6/20 | Relative strength 3.8/20
   - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks
   - Exact sum: 17.9 + 9.1 + 9.6 + 3.8 = 40.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8. The Eastern Company (EML): 41/100 — Thin evidence · provisional; evidence 50%
   - Growth & earnings 13.4/35 | Capital efficiency 8.3/25 | Valuation 10.8/20 | Relative strength 8.5/20
   - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks
   - Exact sum: 13.4 + 8.3 + 10.8 + 8.5 = 41
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9. Hillman Solutions Corp. (HLMN): 33/100 — Thin evidence · provisional; evidence 38%
   - Growth & earnings 14.9/35 | Capital efficiency 6.1/25 | Valuation 8.9/20 | Relative strength 3.4/20
   - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind.
   - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks
   - Exact sum: 14.9 + 6.1 + 8.9 + 3.4 = 33.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Market action

Kennametal Inc. has the strongest one-year price move in Tools & Accessories at +78.1%. The Timken Company leads on Mansfield relative strength against the S&P 500 at +18.6%. 7 of 9 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

### Strongest one-year price performers
1. Kennametal Inc. (KMT): 78%
2. The Timken Company (TKR): 78%
3. Stanley Black & Decker, Inc. (SWK): 48%
4. RBC Bearings Incorporated (RBC): 42%
5. The Toro Company (TTC): 34%

### Strongest relative strength versus NIFTY 500
1. The Timken Company (TKR): 19%
2. Stanley Black & Decker, Inc. (SWK): 18%
3. Kennametal Inc. (KMT): 4.0%
4. Snap-on Incorporated (SNA): 3.4%
5. The Eastern Company (EML): 3.2%

## Revenue Scale & Growth Durability

What the numbers say: The Timken Company is the scale leader at $4,672 million, 0.3% ahead of The Toro Company. Kennametal Inc.'s growth is 7.2% from a $2,137 million base, with 18 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: The Timken Company is the scale benchmark; Kennametal Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: The Timken Company's growth falls below Kennametal Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: The Timken Company · $4,672 million | 0.3% versus #2 · The Toro Company | 3/8 recent comparable periods | 3/9 companies · 154 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. The Timken Company (TKR): ₹4.7K Cr — older report
2. The Toro Company (TTC): ₹4.7K Cr
3. Kennametal Inc. (KMT): ₹2.1K Cr — older report

### Revenue growth — fastest growers
1. Kennametal Inc. (KMT): 7.2% — older report
2. The Timken Company (TKR): 3.3% — older report
3. The Toro Company (TTC): 2.5%

### 20-quarter Revenue history
- SNA: Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 — | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 — | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.2K Cr | Sep 2026 —
- RBC: Dec 2021 ₹161 Cr | Mar 2022 ₹267 Cr | Jun 2022 ₹359 Cr | Sep 2022 ₹354 Cr | Dec 2022 ₹369 Cr | Mar 2023 — | Jun 2023 ₹394 Cr | Sep 2023 ₹387 Cr | Dec 2023 ₹374 Cr | Mar 2024 ₹414 Cr | Jun 2024 ₹406 Cr | Sep 2024 ₹398 Cr | Dec 2024 ₹394 Cr | Mar 2025 ₹438 Cr | Jun 2025 ₹436 Cr | Sep 2025 ₹455 Cr | Dec 2025 ₹462 Cr | Mar 2026 ₹518 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹3.8K Cr | Mar 2022 ₹4.0K Cr | Jun 2022 ₹4.4K Cr | Sep 2022 ₹4.4K Cr | Dec 2022 ₹4.1K Cr | Mar 2023 — | Jun 2023 ₹3.9K Cr | Sep 2023 ₹4.2K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹3.9K Cr | Jun 2024 ₹4.0K Cr | Sep 2024 ₹3.8K Cr | Dec 2024 ₹3.7K Cr | Mar 2025 — | Jun 2025 ₹3.7K Cr | Sep 2025 ₹3.8K Cr | Dec 2025 — | Mar 2026 ₹3.7K Cr | Jun 2026 ₹3.8K Cr | Sep 2026 —
- LECO: Dec 2021 ₹844 Cr | Mar 2022 ₹925 Cr | Jun 2022 ₹970 Cr | Sep 2022 ₹935 Cr | Dec 2022 ₹931 Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.0K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹981 Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹984 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹1.0K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹961 Cr | Mar 2022 ₹933 Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹983 Cr | Mar 2024 ₹1.0K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹995 Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.0K Cr | Jun 2026 ₹1.4K Cr | Sep 2026 —
- TKR: Dec 2021 ₹1.0K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 ₹487 Cr | Mar 2022 ₹512 Cr | Jun 2022 ₹530 Cr | Sep 2022 ₹495 Cr | Dec 2022 ₹497 Cr | Mar 2023 ₹536 Cr | Jun 2023 ₹550 Cr | Sep 2023 ₹492 Cr | Dec 2023 ₹495 Cr | Mar 2024 ₹516 Cr | Jun 2024 ₹543 Cr | Sep 2024 ₹482 Cr | Dec 2024 ₹482 Cr | Mar 2025 ₹486 Cr | Jun 2025 ₹516 Cr | Sep 2025 ₹498 Cr | Dec 2025 ₹530 Cr | Mar 2026 ₹593 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹344 Cr | Mar 2022 ₹363 Cr | Jun 2022 ₹394 Cr | Sep 2022 ₹379 Cr | Dec 2022 ₹351 Cr | Mar 2023 — | Jun 2023 ₹350 Cr | Sep 2023 ₹380 Cr | Dec 2023 — | Mar 2024 ₹350 Cr | Jun 2024 ₹379 Cr | Sep 2024 ₹393 Cr | Dec 2024 — | Mar 2025 ₹359 Cr | Jun 2025 ₹403 Cr | Sep 2025 ₹425 Cr | Dec 2025 — | Mar 2026 ₹370 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹64 Cr | Mar 2022 ₹60 Cr | Jun 2022 ₹69 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹72 Cr | Mar 2023 — | Jun 2023 ₹72 Cr | Sep 2023 ₹68 Cr | Dec 2023 ₹64 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹73 Cr | Sep 2024 ₹71 Cr | Dec 2024 ₹67 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹70 Cr | Sep 2025 ₹55 Cr | Dec 2025 — | Mar 2026 ₹58 Cr | Jun 2026 ₹60 Cr | Sep 2026 —

### 20-quarter Revenue growth history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 5.2% | Dec 2022 6.3% | Mar 2023 — | Jun 2023 7.7% | Sep 2023 4.8% | Dec 2023 8.5% | Mar 2024 — | Jun 2024 -0.3% | Sep 2024 -3.7% | Dec 2024 0.2% | Mar 2025 -3.5% | Jun 2025 0.0% | Sep 2025 3.8% | Dec 2025 — | Mar 2026 8.0% | Jun 2026 2.4% | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 127% | Dec 2022 129% | Mar 2023 — | Jun 2023 9.8% | Sep 2023 9.3% | Dec 2023 1.4% | Mar 2024 — | Jun 2024 3.1% | Sep 2024 2.8% | Dec 2024 5.4% | Mar 2025 5.8% | Jun 2025 7.4% | Sep 2025 14% | Dec 2025 17% | Mar 2026 18% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 16% | Dec 2022 9.0% | Mar 2023 — | Jun 2023 -12% | Sep 2023 -5.3% | Dec 2023 -9.3% | Mar 2024 — | Jun 2024 2.3% | Sep 2024 -9.8% | Dec 2024 -0.4% | Mar 2025 — | Jun 2025 -6.9% | Sep 2025 0.1% | Dec 2025 — | Mar 2026 — | Jun 2026 2.7% | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 17% | Sep 2022 16% | Dec 2022 10% | Mar 2023 12% | Jun 2023 9.4% | Sep 2023 10% | Dec 2023 14% | Mar 2024 -5.6% | Jun 2024 -3.7% | Sep 2024 -4.7% | Dec 2024 -3.5% | Mar 2025 2.3% | Jun 2025 6.6% | Sep 2025 7.8% | Dec 2025 5.6% | Mar 2026 12% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 19% | Dec 2022 22% | Mar 2023 23% | Jun 2023 7.2% | Sep 2023 -6.8% | Dec 2023 -16% | Mar 2024 -13% | Jun 2024 0.8% | Sep 2024 6.9% | Dec 2024 9.5% | Mar 2025 -0.7% | Jun 2025 -2.3% | Sep 2025 -2.3% | Dec 2025 -0.9% | Mar 2026 4.1% | Jun 2026 8.1% | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 8.6% | Sep 2022 9.6% | Dec 2022 7.5% | Mar 2023 12% | Jun 2023 10% | Sep 2023 0.6% | Dec 2023 0.8% | Mar 2024 -5.8% | Jun 2024 -7.1% | Sep 2024 -1.4% | Dec 2024 -1.6% | Mar 2025 -4.2% | Jun 2025 -0.8% | Sep 2025 2.7% | Dec 2025 3.5% | Mar 2026 8.0% | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 2.7% | Sep 2022 2.3% | Dec 2022 2.1% | Mar 2023 4.7% | Jun 2023 3.8% | Sep 2023 -0.6% | Dec 2023 -0.4% | Mar 2024 -3.7% | Jun 2024 -1.3% | Sep 2024 -2.0% | Dec 2024 -2.6% | Mar 2025 -5.8% | Jun 2025 -5.0% | Sep 2025 3.3% | Dec 2025 10.0% | Mar 2026 22% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 4.8% | Sep 2022 4.1% | Dec 2022 2.0% | Mar 2023 — | Jun 2023 -11% | Sep 2023 0.3% | Dec 2023 — | Mar 2024 — | Jun 2024 8.3% | Sep 2024 3.4% | Dec 2024 — | Mar 2025 2.6% | Jun 2025 6.3% | Sep 2025 8.1% | Dec 2025 — | Mar 2026 3.1% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 15% | Dec 2022 13% | Mar 2023 — | Jun 2023 4.4% | Sep 2023 -2.9% | Dec 2023 -11% | Mar 2024 — | Jun 2024 1.4% | Sep 2024 4.4% | Dec 2024 4.7% | Mar 2025 -3.1% | Jun 2025 -4.1% | Sep 2025 -23% | Dec 2025 — | Mar 2026 -7.9% | Jun 2026 -14% | Sep 2026 —

## Operating Economics & Margin Trend

What the numbers say: Snap-on Incorporated leads opm at 26.4%; Kennametal Inc. leads margin change at +4.3 percentage points.

Investor read: Snap-on Incorporated sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Snap-on Incorporated · 26.4% | 14.8% versus #2 · RBC Bearings Incorporated | 4/8 recent comparable periods | 9/9 companies · 154 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Snap-on Incorporated (SNA): 26%
2. RBC Bearings Incorporated (RBC): 23%
3. Lincoln Electric Holdings, Inc. (LECO): 17%
4. The Timken Company (TKR): 14% — older report
5. The Toro Company (TTC): 14%

### Margin change — fastest expanders
1. Kennametal Inc. (KMT): +4.3 pp — older report
2. The Timken Company (TKR): +1.1 pp — older report
3. The Toro Company (TTC): +0.4 pp
4. Lincoln Electric Holdings, Inc. (LECO): +0.2 pp
5. RBC Bearings Incorporated (RBC): 0.0 pp

### 20-quarter OPM history
- SNA: Dec 2021 26% | Mar 2022 27% | Jun 2022 27% | Sep 2022 27% | Dec 2022 26% | Mar 2023 — | Jun 2023 28% | Sep 2023 29% | Dec 2023 27% | Mar 2024 29% | Jun 2024 30% | Sep 2024 28% | Dec 2024 28% | Mar 2025 28% | Jun 2025 28% | Sep 2025 29% | Dec 2025 — | Mar 2026 28% | Jun 2026 26% | Sep 2026 —
- RBC: Dec 2021 10% | Mar 2022 5.9% | Jun 2022 17% | Sep 2022 18% | Dec 2022 20% | Mar 2023 — | Jun 2023 22% | Sep 2023 22% | Dec 2023 20% | Mar 2024 23% | Jun 2024 24% | Sep 2024 22% | Dec 2024 22% | Mar 2025 23% | Jun 2025 23% | Sep 2025 22% | Dec 2025 22% | Mar 2026 23% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 11% | Mar 2022 3.1% | Jun 2022 5.2% | Sep 2022 2.0% | Dec 2022 1.7% | Mar 2023 — | Jun 2023 -1.9% | Sep 2023 0.6% | Dec 2023 0.2% | Mar 2024 3.5% | Jun 2024 1.4% | Sep 2024 4.5% | Dec 2024 5.4% | Mar 2025 — | Jun 2025 5.5% | Sep 2025 3.1% | Dec 2025 — | Mar 2026 8.4% | Jun 2026 4.2% | Sep 2026 —
- LECO: Dec 2021 14% | Mar 2022 17% | Jun 2022 17% | Sep 2022 15% | Dec 2022 15% | Mar 2023 16% | Jun 2023 17% | Sep 2023 17% | Dec 2023 19% | Mar 2024 17% | Jun 2024 15% | Sep 2024 15% | Dec 2024 17% | Mar 2025 16% | Jun 2025 18% | Sep 2025 17% | Dec 2025 17% | Mar 2026 17% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 7.7% | Mar 2022 9.8% | Jun 2022 14% | Sep 2022 14% | Dec 2022 13% | Mar 2023 12% | Jun 2023 16% | Sep 2023 -1.8% | Dec 2023 9.6% | Mar 2024 8.8% | Jun 2024 14% | Sep 2024 13% | Dec 2024 10% | Mar 2025 7.8% | Jun 2025 13% | Sep 2025 5.7% | Dec 2025 8.7% | Mar 2026 8.4% | Jun 2026 14% | Sep 2026 —
- TKR: Dec 2021 8.5% | Mar 2022 15% | Jun 2022 15% | Sep 2022 12% | Dec 2022 12% | Mar 2023 15% | Jun 2023 16% | Sep 2023 13% | Dec 2023 11% | Mar 2024 16% | Jun 2024 14% | Sep 2024 13% | Dec 2024 11% | Mar 2025 13% | Jun 2025 13% | Sep 2025 12% | Dec 2025 9.8% | Mar 2026 14% | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 9.8% | Mar 2022 10% | Jun 2022 12% | Sep 2022 9.8% | Dec 2022 7.1% | Mar 2023 9.8% | Jun 2023 10% | Sep 2023 9.2% | Dec 2023 5.7% | Mar 2024 6.8% | Jun 2024 11% | Sep 2024 7.5% | Dec 2024 6.6% | Mar 2025 9.1% | Jun 2025 6.1% | Sep 2025 7.5% | Dec 2025 9.9% | Mar 2026 13% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 32% | Mar 2022 2.4% | Jun 2022 7.0% | Sep 2022 -0.1% | Dec 2022 1.1% | Mar 2023 — | Jun 2023 0.3% | Sep 2023 5.5% | Dec 2023 — | Mar 2024 4.7% | Jun 2024 8.3% | Sep 2024 6.8% | Dec 2024 — | Mar 2025 4.2% | Jun 2025 9.0% | Sep 2025 11% | Dec 2025 — | Mar 2026 1.9% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 7.5% | Mar 2022 6.0% | Jun 2022 5.1% | Sep 2022 7.0% | Dec 2022 7.6% | Mar 2023 — | Jun 2023 3.0% | Sep 2023 3.6% | Dec 2023 8.9% | Mar 2024 5.3% | Jun 2024 8.3% | Sep 2024 9.5% | Dec 2024 4.5% | Mar 2025 5.1% | Jun 2025 4.5% | Sep 2025 3.1% | Dec 2025 — | Mar 2026 3.8% | Jun 2026 2.2% | Sep 2026 —

### 20-quarter Margin change history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 +0.1 pp | Mar 2023 — | Jun 2023 +0.9 pp | Sep 2023 +1.5 pp | Dec 2023 +0.9 pp | Mar 2024 — | Jun 2024 +2.1 pp | Sep 2024 −0.6 pp | Dec 2024 +0.5 pp | Mar 2025 −1.2 pp | Jun 2025 −1.9 pp | Sep 2025 +0.9 pp | Dec 2025 — | Mar 2026 +0.1 pp | Jun 2026 −1.4 pp | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 +9.2 pp | Mar 2023 — | Jun 2023 +5.3 pp | Sep 2023 +3.8 pp | Dec 2023 +0.6 pp | Mar 2024 — | Jun 2024 +2.2 pp | Sep 2024 −0.4 pp | Dec 2024 +1.6 pp | Mar 2025 +0.2 pp | Jun 2025 −0.8 pp | Sep 2025 −0.1 pp | Dec 2025 +0.6 pp | Mar 2026 0.0 pp | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −12.2 pp | Dec 2022 −9.2 pp | Mar 2023 — | Jun 2023 −7.1 pp | Sep 2023 −1.4 pp | Dec 2023 −1.5 pp | Mar 2024 — | Jun 2024 +3.3 pp | Sep 2024 +3.9 pp | Dec 2024 +5.2 pp | Mar 2025 — | Jun 2025 +4.1 pp | Sep 2025 −1.4 pp | Dec 2025 — | Mar 2026 — | Jun 2026 −1.3 pp | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 +2.6 pp | Sep 2022 +0.9 pp | Dec 2022 +0.9 pp | Mar 2023 −1.6 pp | Jun 2023 −0.5 pp | Sep 2023 +1.4 pp | Dec 2023 +4.1 pp | Mar 2024 +1.0 pp | Jun 2024 −2.2 pp | Sep 2024 −1.8 pp | Dec 2024 −2.0 pp | Mar 2025 −0.4 pp | Jun 2025 +3.0 pp | Sep 2025 +1.8 pp | Dec 2025 −0.2 pp | Mar 2026 +0.2 pp | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.5 pp | Dec 2022 +5.1 pp | Mar 2023 +2.1 pp | Jun 2023 +2.6 pp | Sep 2023 −15.8 pp | Dec 2023 −3.2 pp | Mar 2024 −3.1 pp | Jun 2024 −2.4 pp | Sep 2024 +14.6 pp | Dec 2024 +0.5 pp | Mar 2025 −1.0 pp | Jun 2025 −0.6 pp | Sep 2025 −7.1 pp | Dec 2025 −1.4 pp | Mar 2026 +0.6 pp | Jun 2026 +0.4 pp | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 +0.9 pp | Sep 2022 −0.4 pp | Dec 2022 +3.2 pp | Mar 2023 −0.4 pp | Jun 2023 +0.6 pp | Sep 2023 +1.5 pp | Dec 2023 −0.8 pp | Mar 2024 +0.6 pp | Jun 2024 −1.7 pp | Sep 2024 −0.1 pp | Dec 2024 −0.4 pp | Mar 2025 −2.9 pp | Jun 2025 −1.5 pp | Sep 2025 −1.0 pp | Dec 2025 −0.7 pp | Mar 2026 +1.1 pp | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 0.0 pp | Sep 2022 −1.5 pp | Dec 2022 −2.7 pp | Mar 2023 −0.6 pp | Jun 2023 −1.6 pp | Sep 2023 −0.6 pp | Dec 2023 −1.4 pp | Mar 2024 −3.0 pp | Jun 2024 +1.1 pp | Sep 2024 −1.7 pp | Dec 2024 +0.9 pp | Mar 2025 +2.3 pp | Jun 2025 −5.2 pp | Sep 2025 0.0 pp | Dec 2025 +3.3 pp | Mar 2026 +4.3 pp | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 +1.8 pp | Sep 2022 +3.5 pp | Dec 2022 −31.1 pp | Mar 2023 — | Jun 2023 −6.7 pp | Sep 2023 +5.6 pp | Dec 2023 — | Mar 2024 — | Jun 2024 +8.0 pp | Sep 2024 +1.3 pp | Dec 2024 — | Mar 2025 −0.5 pp | Jun 2025 +0.7 pp | Sep 2025 +4.0 pp | Dec 2025 — | Mar 2026 −2.3 pp | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.3 pp | Dec 2022 +0.1 pp | Mar 2023 — | Jun 2023 −2.1 pp | Sep 2023 −3.4 pp | Dec 2023 +1.3 pp | Mar 2024 — | Jun 2024 +5.3 pp | Sep 2024 +5.9 pp | Dec 2024 −4.4 pp | Mar 2025 −0.2 pp | Jun 2025 −3.8 pp | Sep 2025 −6.4 pp | Dec 2025 — | Mar 2026 −1.3 pp | Jun 2026 −2.3 pp | Sep 2026 —

## Profit Scale & Acceleration

What the numbers say: The Toro Company leads with $340 million of TTM profit, 2.4% above The Timken Company. Kennametal Inc. shows 27.4% growth from a $144 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: The Toro Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: The Toro Company · $340 million | 2.4% versus #2 · The Timken Company | 3/8 recent comparable periods | 4/9 companies · 157 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. The Toro Company (TTC): ₹340 Cr
2. The Timken Company (TKR): ₹332 Cr — older report
3. Kennametal Inc. (KMT): ₹144 Cr — older report
4. Hillman Solutions Corp. (HLMN): ₹36 Cr — older report

### Profit growth — fastest growers
1. Kennametal Inc. (KMT): 27% — older report
2. The Timken Company (TKR): -6.7% — older report
3. The Toro Company (TTC): -15%

### 20-quarter Net profit history
- SNA: Dec 2021 ₹202 Cr | Mar 2022 ₹229 Cr | Jun 2022 ₹223 Cr | Sep 2022 ₹237 Cr | Dec 2022 ₹230 Cr | Mar 2023 — | Jun 2023 ₹254 Cr | Sep 2023 ₹270 Cr | Dec 2023 ₹261 Cr | Mar 2024 ₹270 Cr | Jun 2024 ₹278 Cr | Sep 2024 ₹258 Cr | Dec 2024 ₹264 Cr | Mar 2025 ₹247 Cr | Jun 2025 ₹257 Cr | Sep 2025 ₹272 Cr | Dec 2025 — | Mar 2026 ₹267 Cr | Jun 2026 ₹254 Cr | Sep 2026 —
- RBC: Dec 2021 ₹-1 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹31 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹44 Cr | Mar 2023 — | Jun 2023 ₹49 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹47 Cr | Mar 2024 ₹62 Cr | Jun 2024 ₹61 Cr | Sep 2024 ₹54 Cr | Dec 2024 ₹58 Cr | Mar 2025 ₹73 Cr | Jun 2025 ₹69 Cr | Sep 2025 ₹60 Cr | Dec 2025 ₹67 Cr | Mar 2026 ₹92 Cr | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 ₹380 Cr | Mar 2022 ₹279 Cr | Jun 2022 ₹156 Cr | Sep 2022 ₹79 Cr | Dec 2022 ₹37 Cr | Mar 2023 — | Jun 2023 ₹-188 Cr | Sep 2023 ₹178 Cr | Dec 2023 ₹-276 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹-19 Cr | Sep 2024 ₹91 Cr | Dec 2024 ₹195 Cr | Mar 2025 — | Jun 2025 ₹90 Cr | Sep 2025 ₹51 Cr | Dec 2025 — | Mar 2026 ₹158 Cr | Jun 2026 ₹60 Cr | Sep 2026 —
- LECO: Dec 2021 ₹74 Cr | Mar 2022 ₹126 Cr | Jun 2022 ₹128 Cr | Sep 2022 ₹109 Cr | Dec 2022 ₹109 Cr | Mar 2023 ₹122 Cr | Jun 2023 ₹137 Cr | Sep 2023 ₹129 Cr | Dec 2023 ₹157 Cr | Mar 2024 ₹123 Cr | Jun 2024 ₹102 Cr | Sep 2024 ₹101 Cr | Dec 2024 ₹140 Cr | Mar 2025 ₹118 Cr | Jun 2025 ₹143 Cr | Sep 2025 ₹123 Cr | Dec 2025 ₹136 Cr | Mar 2026 ₹136 Cr | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 ₹60 Cr | Mar 2022 ₹70 Cr | Jun 2022 ₹131 Cr | Sep 2022 ₹125 Cr | Dec 2022 ₹118 Cr | Mar 2023 ₹107 Cr | Jun 2023 ₹168 Cr | Sep 2023 ₹-15 Cr | Dec 2023 ₹70 Cr | Mar 2024 ₹65 Cr | Jun 2024 ₹145 Cr | Sep 2024 ₹119 Cr | Dec 2024 ₹90 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹137 Cr | Sep 2025 ₹54 Cr | Dec 2025 ₹73 Cr | Mar 2026 ₹68 Cr | Jun 2026 ₹145 Cr | Sep 2026 —
- TKR: Dec 2021 ₹67 Cr | Mar 2022 ₹122 Cr | Jun 2022 ₹106 Cr | Sep 2022 ₹90 Cr | Dec 2022 ₹99 Cr | Mar 2023 ₹126 Cr | Jun 2023 ₹130 Cr | Sep 2023 ₹91 Cr | Dec 2023 ₹62 Cr | Mar 2024 ₹111 Cr | Jun 2024 ₹102 Cr | Sep 2024 ₹88 Cr | Dec 2024 ₹75 Cr | Mar 2025 ₹91 Cr | Jun 2025 ₹86 Cr | Sep 2025 ₹74 Cr | Dec 2025 ₹66 Cr | Mar 2026 ₹106 Cr | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 ₹33 Cr | Mar 2022 ₹37 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹30 Cr | Dec 2022 ₹23 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹38 Cr | Sep 2023 ₹30 Cr | Dec 2023 ₹24 Cr | Mar 2024 ₹21 Cr | Jun 2024 ₹38 Cr | Sep 2024 ₹23 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹33 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹25 Cr | Dec 2025 ₹35 Cr | Mar 2026 ₹61 Cr | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 ₹118 Cr | Mar 2022 ₹-2 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹-9 Cr | Dec 2022 ₹-14 Cr | Mar 2023 — | Jun 2023 ₹-9 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹13 Cr | Sep 2024 ₹7 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹-5 Cr | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 ₹4 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹4 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹4 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹1 Cr | Dec 2025 — | Mar 2026 ₹1 Cr | Jun 2026 ₹1 Cr | Sep 2026 —

### 20-quarter Profit growth history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 11% | Dec 2022 14% | Mar 2023 — | Jun 2023 14% | Sep 2023 14% | Dec 2023 13% | Mar 2024 — | Jun 2024 9.5% | Sep 2024 -4.4% | Dec 2024 1.2% | Mar 2025 -8.5% | Jun 2025 -7.6% | Sep 2025 5.4% | Dec 2025 — | Mar 2026 8.1% | Jun 2026 -1.2% | Sep 2026 —
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 54% | Dec 2022 — | Mar 2023 — | Jun 2023 58% | Sep 2023 35% | Dec 2023 6.8% | Mar 2024 — | Jun 2024 24% | Sep 2024 8.0% | Dec 2024 23% | Mar 2025 18% | Jun 2025 13% | Sep 2025 11% | Dec 2025 16% | Mar 2026 26% | Jun 2026 — | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -82% | Dec 2022 -90% | Mar 2023 — | Jun 2023 -221% | Sep 2023 125% | Dec 2023 -846% | Mar 2024 — | Jun 2024 — | Sep 2024 -49% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 -44% | Dec 2025 — | Mar 2026 — | Jun 2026 -33% | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 33% | Sep 2022 241% | Dec 2022 47% | Mar 2023 -3.2% | Jun 2023 7.0% | Sep 2023 18% | Dec 2023 44% | Mar 2024 0.8% | Jun 2024 -26% | Sep 2024 -22% | Dec 2024 -11% | Mar 2025 -4.1% | Jun 2025 40% | Sep 2025 22% | Dec 2025 -2.9% | Mar 2026 15% | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 30% | Dec 2022 97% | Mar 2023 53% | Jun 2023 28% | Sep 2023 -112% | Dec 2023 -41% | Mar 2024 -39% | Jun 2024 -14% | Sep 2024 — | Dec 2024 29% | Mar 2025 -18% | Jun 2025 -5.5% | Sep 2025 -55% | Dec 2025 -19% | Mar 2026 28% | Jun 2026 5.8% | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 -0.9% | Sep 2022 -2.2% | Dec 2022 48% | Mar 2023 3.3% | Jun 2023 23% | Sep 2023 1.1% | Dec 2023 -37% | Mar 2024 -12% | Jun 2024 -22% | Sep 2024 -3.3% | Dec 2024 21% | Mar 2025 -18% | Jun 2025 -16% | Sep 2025 -16% | Dec 2025 -12% | Mar 2026 16% | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 -21% | Dec 2022 -30% | Mar 2023 -11% | Jun 2023 -12% | Sep 2023 0.0% | Dec 2023 4.4% | Mar 2024 -36% | Jun 2024 0.0% | Sep 2024 -23% | Dec 2024 -21% | Mar 2025 57% | Jun 2025 -39% | Sep 2025 8.7% | Dec 2025 84% | Mar 2026 85% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -112% | Mar 2023 — | Jun 2023 -200% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 40% | Dec 2024 — | Mar 2025 — | Jun 2025 23% | Sep 2025 229% | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 33% | Dec 2022 0.0% | Mar 2023 — | Jun 2023 -67% | Sep 2023 -75% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 300% | Sep 2024 400% | Dec 2024 -50% | Mar 2025 0.0% | Jun 2025 -50% | Sep 2025 -80% | Dec 2025 — | Mar 2026 -50% | Jun 2026 -50% | Sep 2026 —

## Return On Capital Employed

What the numbers say: The Toro Company leads ROCE at 7.4%, 2.8 percentage points above Snap-on Incorporated. Stanley Black & Decker, Inc. has the strongest latest improvement at +2.9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: The Toro Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: The Toro Company · 7.4% | 60.9% versus #2 · Snap-on Incorporated | 4/8 recent comparable periods | 9/9 companies · 161 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. The Toro Company (TTC): 7.4%
2. Snap-on Incorporated (SNA): 4.6%
3. Kennametal Inc. (KMT): 3.7% — older report
4. Stanley Black & Decker, Inc. (SWK): 3.5%
5. RBC Bearings Incorporated (RBC): 3.1%

### ROCE change — fastest improvers
1. Stanley Black & Decker, Inc. (SWK): +2.9 pp
2. Kennametal Inc. (KMT): +1.6 pp — older report
3. The Toro Company (TTC): +1.0 pp
4. RBC Bearings Incorporated (RBC): +0.8 pp
5. The Timken Company (TKR): +0.2 pp — older report

### 20-quarter ROCE history
- SNA: Dec 2021 5.1% | Mar 2022 5.4% | Jun 2022 5.2% | Sep 2022 5.4% | Dec 2022 5.1% | Mar 2023 — | Jun 2023 5.4% | Sep 2023 5.7% | Dec 2023 5.2% | Mar 2024 5.3% | Jun 2024 5.4% | Sep 2024 4.9% | Dec 2024 4.9% | Mar 2025 4.6% | Jun 2025 4.7% | Sep 2025 4.8% | Dec 2025 — | Mar 2026 4.7% | Jun 2026 4.5% | Sep 2026 4.6%
- RBC: Dec 2021 0.9% | Mar 2022 0.5% | Jun 2022 2.0% | Sep 2022 2.2% | Dec 2022 2.1% | Mar 2023 — | Jun 2023 1.9% | Sep 2023 1.9% | Dec 2023 1.7% | Mar 2024 2.1% | Jun 2024 2.2% | Sep 2024 2.0% | Dec 2024 2.0% | Mar 2025 2.3% | Jun 2025 2.3% | Sep 2025 2.1% | Dec 2025 2.3% | Mar 2026 2.7% | Jun 2026 3.1% | Sep 2026 —
- SWK: Dec 2021 2.2% | Mar 2022 0.6% | Jun 2022 1.2% | Sep 2022 0.5% | Dec 2022 0.4% | Mar 2023 — | Jun 2023 -0.4% | Sep 2023 0.1% | Dec 2023 0.0% | Mar 2024 0.8% | Jun 2024 0.3% | Sep 2024 0.9% | Dec 2024 1.2% | Mar 2025 — | Jun 2025 1.2% | Sep 2025 0.6% | Dec 2025 — | Mar 2026 1.9% | Jun 2026 1.0% | Sep 2026 3.5%
- LECO: Dec 2021 6.7% | Mar 2022 9.1% | Jun 2022 9.2% | Sep 2022 7.8% | Dec 2022 6.8% | Mar 2023 7.8% | Jun 2023 8.2% | Sep 2023 7.9% | Dec 2023 8.2% | Mar 2024 6.5% | Jun 2024 5.8% | Sep 2024 5.6% | Dec 2024 6.7% | Mar 2025 6.2% | Jun 2025 0.0% | Sep 2025 6.4% | Dec 2025 6.7% | Mar 2026 6.7% | Jun 2026 0.0% | Sep 2026 —
- TTC: Dec 2021 3.7% | Mar 2022 4.2% | Jun 2022 7.8% | Sep 2022 7.3% | Dec 2022 6.7% | Mar 2023 5.5% | Jun 2023 8.6% | Sep 2023 -0.7% | Dec 2023 3.6% | Mar 2024 3.2% | Jun 2024 6.8% | Sep 2024 5.5% | Dec 2024 4.1% | Mar 2025 2.8% | Jun 2025 6.4% | Sep 2025 2.4% | Dec 2025 3.6% | Mar 2026 3.2% | Jun 2026 7.4% | Sep 2026 —
- TKR: Dec 2021 2.0% | Mar 2022 3.9% | Jun 2022 4.0% | Sep 2022 3.1% | Dec 2022 2.8% | Mar 2023 3.9% | Jun 2023 4.1% | Sep 2023 3.4% | Dec 2023 2.4% | Mar 2024 3.7% | Jun 2024 3.1% | Sep 2024 2.8% | Dec 2024 2.1% | Mar 2025 2.7% | Jun 2025 2.6% | Sep 2025 2.4% | Dec 2025 1.9% | Mar 2026 2.9% | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 2.2% | Mar 2022 2.4% | Jun 2022 2.9% | Sep 2022 2.3% | Dec 2022 1.7% | Mar 2023 2.4% | Jun 2023 2.7% | Sep 2023 2.2% | Dec 2023 1.4% | Mar 2024 1.7% | Jun 2024 2.9% | Sep 2024 1.7% | Dec 2024 1.5% | Mar 2025 2.1% | Jun 2025 1.5% | Sep 2025 1.8% | Dec 2025 2.5% | Mar 2026 3.7% | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 5.0% | Mar 2022 0.6% | Jun 2022 2.0% | Sep 2022 0.0% | Dec 2022 0.2% | Mar 2023 — | Jun 2023 0.0% | Sep 2023 0.9% | Dec 2023 -5.9% | Mar 2024 0.7% | Jun 2024 1.5% | Sep 2024 1.2% | Dec 2024 -5.7% | Mar 2025 0.7% | Jun 2025 1.7% | Sep 2025 2.2% | Dec 2025 -5.8% | Mar 2026 0.3% | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 2.0% | Mar 2022 1.6% | Jun 2022 1.5% | Sep 2022 2.1% | Dec 2022 2.4% | Mar 2023 — | Jun 2023 1.0% | Sep 2023 1.1% | Dec 2023 2.7% | Mar 2024 1.6% | Jun 2024 2.8% | Sep 2024 3.3% | Dec 2024 1.5% | Mar 2025 1.6% | Jun 2025 1.6% | Sep 2025 0.9% | Dec 2025 — | Mar 2026 1.1% | Jun 2026 0.7% | Sep 2026 —

### 20-quarter ROCE change history
- SNA: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.0 pp | Mar 2023 — | Jun 2023 +0.2 pp | Sep 2023 +0.3 pp | Dec 2023 +0.1 pp | Mar 2024 — | Jun 2024 0.0 pp | Sep 2024 −0.8 pp | Dec 2024 −0.3 pp | Mar 2025 −0.7 pp | Jun 2025 −0.7 pp | Sep 2025 −0.1 pp | Dec 2025 — | Mar 2026 +0.1 pp | Jun 2026 −0.2 pp | Sep 2026 −0.2 pp
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.2 pp | Mar 2023 — | Jun 2023 −0.1 pp | Sep 2023 −0.3 pp | Dec 2023 −0.4 pp | Mar 2024 — | Jun 2024 +0.3 pp | Sep 2024 +0.1 pp | Dec 2024 +0.3 pp | Mar 2025 +0.2 pp | Jun 2025 +0.1 pp | Sep 2025 +0.1 pp | Dec 2025 +0.3 pp | Mar 2026 +0.4 pp | Jun 2026 +0.8 pp | Sep 2026 —
- SWK: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.8 pp | Mar 2023 — | Jun 2023 −1.6 pp | Sep 2023 −0.4 pp | Dec 2023 −0.4 pp | Mar 2024 — | Jun 2024 +0.7 pp | Sep 2024 +0.8 pp | Dec 2024 +1.2 pp | Mar 2025 — | Jun 2025 +0.9 pp | Sep 2025 −0.3 pp | Dec 2025 — | Mar 2026 — | Jun 2026 −0.2 pp | Sep 2026 +2.9 pp
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.1 pp | Mar 2023 −1.3 pp | Jun 2023 −1.0 pp | Sep 2023 +0.1 pp | Dec 2023 +1.4 pp | Mar 2024 −1.3 pp | Jun 2024 −2.4 pp | Sep 2024 −2.3 pp | Dec 2024 −1.5 pp | Mar 2025 −0.3 pp | Jun 2025 −5.8 pp | Sep 2025 +0.8 pp | Dec 2025 0.0 pp | Mar 2026 +0.5 pp | Jun 2026 0.0 pp | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +3.0 pp | Mar 2023 +1.3 pp | Jun 2023 +0.8 pp | Sep 2023 −8.0 pp | Dec 2023 −3.1 pp | Mar 2024 −2.3 pp | Jun 2024 −1.8 pp | Sep 2024 +6.2 pp | Dec 2024 +0.5 pp | Mar 2025 −0.4 pp | Jun 2025 −0.4 pp | Sep 2025 −3.1 pp | Dec 2025 −0.5 pp | Mar 2026 +0.4 pp | Jun 2026 +1.0 pp | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.8 pp | Mar 2023 0.0 pp | Jun 2023 +0.1 pp | Sep 2023 +0.3 pp | Dec 2023 −0.4 pp | Mar 2024 −0.2 pp | Jun 2024 −1.0 pp | Sep 2024 −0.6 pp | Dec 2024 −0.3 pp | Mar 2025 −1.0 pp | Jun 2025 −0.5 pp | Sep 2025 −0.4 pp | Dec 2025 −0.2 pp | Mar 2026 +0.2 pp | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.5 pp | Mar 2023 0.0 pp | Jun 2023 −0.2 pp | Sep 2023 −0.1 pp | Dec 2023 −0.3 pp | Mar 2024 −0.7 pp | Jun 2024 +0.2 pp | Sep 2024 −0.5 pp | Dec 2024 +0.1 pp | Mar 2025 +0.4 pp | Jun 2025 −1.4 pp | Sep 2025 +0.1 pp | Dec 2025 +1.0 pp | Mar 2026 +1.6 pp | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −4.8 pp | Mar 2023 — | Jun 2023 −2.0 pp | Sep 2023 +0.9 pp | Dec 2023 −6.1 pp | Mar 2024 — | Jun 2024 +1.5 pp | Sep 2024 +0.3 pp | Dec 2024 +0.2 pp | Mar 2025 0.0 pp | Jun 2025 +0.2 pp | Sep 2025 +1.0 pp | Dec 2025 −0.1 pp | Mar 2026 −0.4 pp | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.4 pp | Mar 2023 — | Jun 2023 −0.5 pp | Sep 2023 −1.0 pp | Dec 2023 +0.3 pp | Mar 2024 — | Jun 2024 +1.8 pp | Sep 2024 +2.2 pp | Dec 2024 −1.2 pp | Mar 2025 0.0 pp | Jun 2025 −1.2 pp | Sep 2025 −2.4 pp | Dec 2025 — | Mar 2026 −0.5 pp | Jun 2026 −0.9 pp | Sep 2026 —

## Valuation Against Growth & Quality

What the numbers say: The Toro Company has the lowest comparable PEG at 0.34×, 46% below The Timken Company. Only 3 of 9 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: The Toro Company · 0.34× | 46% versus #2 · The Timken Company | 0/8 recent comparable periods | 3/9 companies · 24 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

### PEG — lowest PEG
1. The Toro Company (TTC): 0.3
2. The Timken Company (TKR): 0.6 — older report
3. Kennametal Inc. (KMT): 0.8 — older report

### P/E — lowest P/E
1. Kennametal Inc. (KMT): 20.4 — older report
2. Snap-on Incorporated (SNA): 20.6
3. The Eastern Company (EML): 21.3
4. Stanley Black & Decker, Inc. (SWK): 22.4
5. The Timken Company (TKR): 22.9 — older report

### 20-quarter PEG history
- RBC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 2.0 | Jun 2025 2.7 | Sep 2025 2.4 | Dec 2025 3.2 | Mar 2026 3.2 | Jun 2026 — | Sep 2026 —
- LECO: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.5 | Jun 2023 0.7 | Sep 2023 1.4 | Dec 2023 1.4 | Mar 2024 1.5 | Jun 2024 2.7 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 2.2 | Dec 2025 1.8 | Mar 2026 1.3 | Jun 2026 — | Sep 2026 —
- TTC: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.5 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 3.7 | Dec 2024 0.7 | Mar 2025 0.5 | Jun 2025 0.3 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- TKR: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.0 | Jun 2023 0.8 | Sep 2023 0.6 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.2 | Mar 2026 0.8 | Jun 2026 — | Sep 2026 —

### 20-quarter P/E history
- SNA: Dec 2021 14.3 | Mar 2022 14.4 | Jun 2022 13.2 | Sep 2022 12.4 | Dec 2022 12.2 | Mar 2023 — | Jun 2023 14.2 | Sep 2023 16.0 | Dec 2023 15.1 | Mar 2024 15.2 | Jun 2024 13.3 | Sep 2024 14.6 | Dec 2024 17.1 | Mar 2025 16.9 | Jun 2025 16.2 | Sep 2025 17.5 | Dec 2025 — | Mar 2026 17.9 | Jun 2026 18.5 | Sep 2026 20.6
- RBC: Dec 2021 55.2 | Mar 2022 119.5 | Jun 2022 125.4 | Sep 2022 107.3 | Dec 2022 66.8 | Mar 2023 — | Jun 2023 47.1 | Sep 2023 40.5 | Dec 2023 47.6 | Mar 2024 42.2 | Jun 2024 39.8 | Sep 2024 43.8 | Dec 2024 41.2 | Mar 2025 42.3 | Jun 2025 48.0 | Sep 2025 47.0 | Dec 2025 53.7 | Mar 2026 58.6 | Jun 2026 62.3 | Sep 2026 —
- SWK: Dec 2021 16.5 | Mar 2022 20.2 | Jun 2022 18.4 | Sep 2022 19.1 | Dec 2022 21.1 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 42.0 | Mar 2025 — | Jun 2025 27.1 | Sep 2025 22.9 | Dec 2025 — | Mar 2026 28.9 | Jun 2026 28.8 | Sep 2026 22.4
- LECO: Dec 2021 30.3 | Mar 2022 25.0 | Jun 2022 20.3 | Sep 2022 16.9 | Dec 2022 18.0 | Mar 2023 21.1 | Jun 2023 24.3 | Sep 2023 21.3 | Dec 2023 23.2 | Mar 2024 27.1 | Jun 2024 21.4 | Sep 2024 22.9 | Dec 2024 23.0 | Mar 2025 23.3 | Jun 2025 23.3 | Sep 2025 25.3 | Dec 2025 25.7 | Mar 2026 25.7 | Jun 2026 26.5 | Sep 2026 —
- TTC: Dec 2021 25.3 | Mar 2022 28.2 | Jun 2022 23.9 | Sep 2022 23.6 | Dec 2022 25.1 | Mar 2023 24.9 | Jun 2023 21.6 | Sep 2023 28.3 | Dec 2023 25.8 | Mar 2024 34.3 | Jun 2024 34.9 | Sep 2024 23.9 | Dec 2024 20.1 | Mar 2025 21.3 | Jun 2025 18.1 | Sep 2025 22.1 | Dec 2025 23.6 | Mar 2026 27.4 | Jun 2026 27.1 | Sep 2026 —
- TKR: Dec 2021 14.5 | Mar 2022 12.4 | Jun 2022 10.7 | Sep 2022 11.9 | Dec 2022 12.9 | Mar 2023 14.6 | Jun 2023 15.5 | Sep 2023 12.4 | Dec 2023 14.7 | Mar 2024 16.7 | Jun 2024 16.4 | Sep 2024 17.5 | Dec 2024 14.3 | Mar 2025 15.5 | Jun 2025 16.5 | Sep 2025 17.8 | Dec 2025 20.5 | Mar 2026 22.9 | Jun 2026 — | Sep 2026 —
- KMT: Dec 2021 24.4 | Mar 2022 17.6 | Jun 2022 13.5 | Sep 2022 12.6 | Dec 2022 15.7 | Mar 2023 18.4 | Jun 2023 19.5 | Sep 2023 16.8 | Dec 2023 17.2 | Mar 2024 18.5 | Jun 2024 17.2 | Sep 2024 20.3 | Dec 2024 19.7 | Mar 2025 15.3 | Jun 2025 19.1 | Sep 2025 17.2 | Dec 2025 19.9 | Mar 2026 20.4 | Jun 2026 — | Sep 2026 —
- HLMN: Dec 2021 — | Mar 2022 10.9 | Jun 2022 — | Sep 2022 743.0 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 295.0 | Sep 2024 265.0 | Dec 2024 108.9 | Mar 2025 96.6 | Jun 2025 64.9 | Sep 2025 48.3 | Dec 2025 45.5 | Mar 2026 43.0 | Jun 2026 — | Sep 2026 —
- EML: Dec 2021 23.9 | Mar 2022 9.7 | Jun 2022 23.3 | Sep 2022 8.6 | Dec 2022 6.9 | Mar 2023 — | Jun 2023 11.2 | Sep 2023 13.8 | Dec 2023 16.1 | Mar 2024 21.6 | Jun 2024 13.3 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 20.7 | Dec 2025 — | Mar 2026 16.8 | Jun 2026 21.3 | Sep 2026 —


## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 3 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.

## Every company
- Snap-on Incorporated (SNA) — market value ₹21.6K Cr; latest fundamentals Sep 2026
- RBC Bearings Incorporated (RBC) — market value ₹17.9K Cr; latest fundamentals Jun 2026
- Stanley Black & Decker, Inc. (SWK) — market value ₹15.5K Cr; latest fundamentals Sep 2026
- Lincoln Electric Holdings, Inc. (LECO) — market value ₹15.1K Cr; latest fundamentals Jun 2026
- The Toro Company (TTC) — market value ₹9.4K Cr; latest fundamentals Jun 2026
- The Timken Company (TKR) — market value ₹9.2K Cr; latest fundamentals Mar 2026
- Kennametal Inc. (KMT) — market value ₹2.7K Cr; latest fundamentals Mar 2026
- Hillman Solutions Corp. (HLMN) — market value ₹1.9K Cr; latest fundamentals Mar 2026
- The Eastern Company (EML) — market value ₹149 Cr; latest fundamentals Jun 2026

## Methodology and freshness

Fundamentals through Sep 2026; prices through 2026-08-04.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Is the Tools & Accessories sector outperforming S&P 500?

Tools & Accessories has outperformed S&P 500 by 14.2% over 52 weeks and 4.9% over 13 weeks. 7 of 9 covered companies beat the S&P 500 on Mansfield relative strength, while 2 of 9 beat the sector itself.

### Which Tools & Accessories company is largest by revenue?

The Timken Company leads with revenue of $4,672 million, based on 3 of 9 comparable companies through Mar 2026.

### Which Tools & Accessories company is growing fastest?

Kennametal Inc. has the fastest current revenue growth at 7.2%, across 3 of 9 comparable companies.

### Which Tools & Accessories company has the strongest 4-Factor Sector Score?

Kennametal Inc. ranks first at 62.4/100 with 65.9% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Tools & Accessories company has the lowest comparable PEG?

The Toro Company has the lowest comparable PEG at 0.34, among 3 of 9 companies whose earnings and growth are steady enough for the ratio to mean anything.

### How much history does this Tools & Accessories comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Sep 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

### Which Tools & Accessories company is the biggest?

The Timken Company is the largest, with trailing-twelve-month revenue of $4,672 million, ahead of The Toro Company at $4,658 million. That covers 3 of 9 companies with comparable reporting through Mar 2026.

### Which Tools & Accessories company has the best profit margins?

Snap-on Incorporated has the highest operating margin at 26.4%, from 9 of 9 comparable companies. Kennametal Inc. shows the biggest recent improvement, at +4.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Tools & Accessories company makes the most profit?

The Toro Company earns the most, at $340 million of trailing-twelve-month net profit, from 4 of 9 comparable companies. Kennametal Inc. has the fastest profit growth at 27.4%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Tools & Accessories company earns the highest return on capital?

The Toro Company leads on return on capital employed at 7.4%, across 9 of 9 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Tools & Accessories stock is the cheapest?

On PEG — where a LOWER number is cheaper — The Toro Company screens cheapest at 0.34×. Only 3 of 9 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Is the Tools & Accessories sector beating the market?

Tools & Accessories has outperformed S&P 500 by 14.2% over the last 52 weeks and 4.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 7 of 9 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Tools & Accessories stock has the strongest price momentum?

The Timken Company has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Tools & Accessories company scores highest for research priority?

Kennametal Inc. scores 62.4 out of 100 with 65.9% evidence confidence, from 22.8 points on growth and earnings, 13.2 on capital efficiency, 16.5 on valuation and 9.9 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Tools & Accessories companies does this comparison cover, and over what period?

It compares 9 listed companies over up to 20 reported quarters of fundamentals, ending Sep 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Tools & Accessories sector?

The 9 Tools & Accessories companies on this page carry $93,461 million of combined market value. Snap-on Incorporated is the largest at $21,640 million, about 23% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

### What is the Tools & Accessories sector's P/E ratio?

The median price-to-earnings ratio across the 9 Tools & Accessories companies on this page is 22.9×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

### How is the Tools & Accessories sector performing?

7 of the 9 covered Tools & Accessories companies are beating S&P 500 on Mansfield relative strength. The sector itself is 14.2% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

### How many Tools & Accessories stocks are listed in the US?

This comparison covers 9 listed Tools & Accessories companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Sep 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.