DOCMORRIS (DOCM-EB)

Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

Last Close Avg Daily Vol 52-Week High Trailing PE Annual Div ROE LTG Forecast 1-Mo Return
39.46 (CHF) 106,743 85.30 -- -- -41.0% -40.6% 19.6%
2023 June 22 Market Cap 52-Week Low Forward PE Dividend Yield Annual Rev Inst Own 3-Mo Return
SWISS Exchange
536M 23.02 -- -- 1.6B 40.5% -11.8%

AVERAGE SCORE
NEGATIVE OUTLOOK: DOCM's current score Score Averages
of 2 places it within the bottom 15% of stocks Food & Drug Retailing Group: 5.5 Mid/Small Market Cap: 5.4
scored. Food & Drug Retailing Sector: 5.5 SMI Index: 6.3

Average Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive GALE 8 8 9 8 9
DOCM 2 5 4 2 2
Neutral VILN NR NR 5 NR NR

Negative
2020-06 2021-06 2022-06 2023-06

HIGHLIGHTS I/B/E/S MEAN

- The score for DocMorris has been on a negative trend from 5 to
2 over the past 11 weeks. Buy Mean recommendation from all analysts covering
13 Analysts the company on a standardized 5-point scale.
- The recent change in the Average Score was primarily due to a
decline in the Earnings component score.
Strong Strong
Sell Hold Buy
Sell Buy

PRICE AND VOLUME CHARTS

1-Year Return: -53.4% 5-Year Return: -68.1%

BUSINESS SUMMARY
Zur Rose Group AG is a Switzerland-based company engaged in the drug distribution sector. The Company focuses on the wholesale trade of
medicines, as well as operation of a mail-order pharmacy. The Company's activities are divided into two business segments: Zur Rose and DocMorris.
The Zur Rose division includes wholesale business and provides drugs to medical doctors, health insurance companies, hospitals and healthcare
companies, among others. The DocMorris division manages the mail-order business for drug retail. The Company operates in Switzerland, Germany
and the Netherlands through a number of subsidiaries, such as Zur Rose Suisse AG, Zur Rose Pharma GmbH, BlueCare AG, DocMorris NV, Eurapon
Pharmahandel GmbH and Vitalsana BV.

Page 1 of 11
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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

INDICATOR COMPONENTS
The AVERAGE SCORE combines the quantitative analysis of five widely-used investment decision making tools: Earnings,
Fundamental, Relative Valuation, Risk, and Price Momentum. A simple average of the underlying component ratings is normally
distributed to rank stocks on a 1-10 scale (10 being awarded to the most favorable). These factors may be evaluated differently using
alternative methodologies and the importance of individual factors varies across industries, market capitalization and investment styles.
Additional criteria should always by used to evaluate a stock.

Earnings Fundamental Relative Valuation Risk Price Momentum

PEER ANALYSIS Currency in CHF

PRICE MOMENTUM VALUATION FUNDAMENTAL ANALYSTS

Average Price 1-Mo 3-Mo 1-Yr Market Trailing Forward Dividend Net LTG I/B/E/S # of
Score Ticker (2023-06-22) Return Return Return Cap PE PE Yield Margin Forecast Mean Analysts
9 GALE 71.05 -5.2% -4.1% 5.1% 3.6B 21.4 20.7 3.1% 4.1% 4.8% Hold 6

2 DOCM 39.46 19.6% -11.8% -53.4% 536M -- -- -- -10.6% -40.6% Buy 13

NR VILN 680.00 -1.4% -10.5% -12.8% 71M 47.0 -- -- 2.1% -- -- --

5.5 Average 263.50 4.3% -8.8% -20.4% 1.4B 34.2 20.7 3.1% -1.5% -17.9% Hold 9.5

PEER COMPANIES
GALE Galenica VILN Villars Holding

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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

EARNINGS Currency in CHF

NEUTRAL OUTLOOK: Mixed earnings Earnings Score Averages

expectations and performance. Food & Drug Retailing Group: 5.5 Mid/Small Market Cap: 5.4
Food & Drug Retailing Sector: 5.5 SMI Index: 6.0

Earnings Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive GALE 6 6 7 7 7
DOCM 2 6 6 3 4
Neutral VILN NR NR NR NR NR

Negative
2020-06 2021-06 2022-06 2023-06

EARNINGS INDICATORS
Earnings Surprises Estimate Revisions Recommendation Changes
(33.3% weight) (33.3% weight) (33.3% weight)

DOCM DOCM
GALE
GALE GALE

DOCM

VILN VILN VILN

Last 4 Years Last 4 Weeks Last 120 Days

# Positive Surprises (>2%) 0 # Up Revisions 1 # Broker Upgrades 1
# Negative Surprises (<-2%) 4 # Down Revisions 2 # Broker Downgrades 0
# In-Line Surprises (within 2%) 0 Avg Up Revisions 7.7%
Avg Surprise -31.0% Avg Down Revisions -15.4%

HIGHLIGHTS PRICE TARGET

- DocMorris currently has an Earnings Rating of 4. The average The chart indicates where analysts predict the stock price will be within
Earnings Rating for its Drug Retailers industry is 5.5 and the SWISS the next 12 months, as compared to the current price.
MARKET index average is 6.0.
120 12-Month Price Target
- DOCM's current fiscal year consensus estimate has decreased over Mean (CHF) 51.10
the past 90 days from -5.57 to -5.90, a loss of -5.9%. Consensus 100
High 80.00
estimates for the Drug Retailers industry have moved an average - 80.00 HIGH
3.0% during the same time period. Low 27.00
60.00 Target vs. Current 29.5%
39.46 MEAN
- During the past four weeks, analysts covering DOCM have made 1
40.00 # of Analysts 12
upward and 2 downward EPS estimate revisions for the current fiscal
LOW
year. 20.00
Current Price Price Target
(CHF)

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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

EARNINGS PER SHARE

Actuals Estimates

Earnings per share (EPS) is calculated Quarterly -- --

by dividing a company's earnings by the Mean -- --
number of shares outstanding. Analysts Quarterly data is not available
tend to interpret a pattern of increasing High -- --
earnings as a sign of strength and flat Low -- --
or falling earnings as a sign of
# of Analysts -- --
weakness.

The charts provide a comparison NA NA NA NA

between a company's actual and
estimated EPS, including the high and Actuals Estimates
low forecasts. 60.00

40.00 Annual 2023 2024

Mean -5.902 -5.465
20.00
High 18.960 -2.440
HIGH
0.00 -15.88 Low -10.370 -9.053
MEAN
-23.40 LOW
-20.00 # of Analysts 12 12

-40.00
2021 2022 2023 2024

MEAN ESTIMATE TREND ANALYST RECOMMENDATIONS

Q Q Y Y Price I/B/E/S Mean: Buy (13 Analysts)
-- -- 2023 2024 Target
Strong Buy 3
Current -- -- -5.902 -5.465 51.10
30 Days Ago -- -- -5.611 -5.152 52.30 Buy 3
90 Days Ago -- -- -5.573 -5.342 55.10 Hold 5
% Change (90 Days) -- -- -5.9% -2.3% -7.3%
Sell 2
Current Fiscal Year End: 23-12
Strong Sell 0
Next Expected Report Date: 2023-04-20

EARNINGS SURPRISES
Comparing a company's actual earnings to the mean expectation of Surprise Detail (Last 6 Periods)
analysts results in a difference referred to as a 'positive' or 'negative'
surprise. Research has shown that when a company reports a Surprise Announce Period End Actual Mean Surprise
surprise, it is often followed by more of the same surprise type. Type Date Date EPS EPS (%)
Surprise Summary (Last 6 Years) Negative 2023-03-23 2022-12-31 -15.880 -13.590 -16.9%
Negative 2022-03-24 2021-12-31 -23.400 -18.070 -29.5%
Surprise Type Amount Percent
Negative 2021-03-18 2020-12-31 -14.950 -8.839 -69.1%
Positive Years (> 2%) 0 --
Negative 2020-03-19 2019-12-31 -6.040 -4.732 -27.6%
Negative Years (< -2%) 6 100.0%
Negative 2019-03-21 2018-12-31 -6.140 -4.202 -46.1%
In-Line Years (within 2%) 0 --
Negative 2018-03-21 2017-12-31 -6.572 -5.274 -24.6%

ANNUAL REVENUE
A pattern of increasing sales in Actuals Estimates
conjunction with a rising EPS may 1.7B
influence a buy recommendation, while 1.8B
1.6B 2023 2024
flat or falling sales and faltering 1.6B
earnings may explain a sell Mean 1.1B 1.2B
recommendation. A rising EPS with flat 1.4B HIGH
High 1.5B 1.4B
or falling sales may result from
increased cost efficiency and margins, 1.2B
MEAN Low 969.9M 939.6M
rather than market expansion. This Forecasted Growth -28.5% -22.9%
chart shows the sales forecast trend of 1.0B
LOW # of Analysts 12 12
all analysts and the highest and lowest
projections for the current and next 800.0M
2021 2022 2023 2024
fiscal year.

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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

FUNDAMENTAL
NEGATIVE OUTLOOK: Weak fundamentals Fundamental Score Averages
such as low profit margins, high debt levels, or Food & Drug Retailing Group: 4.7 Mid/Small Market Cap: 5.4
falling dividends. Food & Drug Retailing Sector: 4.7 SMI Index: 5.9

Fundamental Score Trend Peers 2019 2020 2021 2022 Current 6Y Trend
VILN 4 3 4 NR 6
Positive GALE 9 9 7 NR 5
DOCM 1 5 4 NR 3
Neutral

Negative
2017 2018 2019 2020 2021 2022

FUNDAMENTAL INDICATORS
Profitability Debt Earnings Quality Dividend
(25% weight) (25% weight) (25% weight) (25% weight)

VILN
GALE
DOCM

VILN
GALE
GALE

DOCM
DOCM GALE
VILN

DOCM
VILN

Revenue Growth -7.7%

Current Ratio 1.6 Oper. Cash Yield 43.1% Dividend Growth --
For year over year For interim period For latest 12 months For year over year
ending 2023-03 ending 2022-12 ending -- ending --
Gross Margin 11.9% Debt-to-Capital 58.4% Accruals 2.1% Dividend Payout --
For latest 12 months For annual period For latest 12 months For latest 12 months
ending 2022-12 ending 2022-12 ending 2022-12 ending --
Return On Equity -41.0% Interest Funding -10.4% Days Sales In Inv. 23.5 Dividend Coverage --
For interim period For interim period For annual period For annual period
ending 2022-12 ending 2022-12 ending 2022-12 ending --
Net Margin -10.6% Interest Coverage -6.4 Days Sales In Rec. 31.9 Current Div. Yield --
For latest 12 months For interim period For annual period For latest 12 months
ending 2022-12 ending 2022-12 ending 2022-12 ending --

HIGHLIGHTS
- DocMorris currently has a Fundamental Rating of 3. The average
Fundamental Rating for its Food & Drug Retailing industry group is 4.7
and the SWISS MARKET index average is 5.9.
- DOCM's current net margin of -10.6% is substantially below its five-
year average of -8.0%.
- DOCM's current ratio of 1.6 is substantially below its five-year average
of 2.6.
- DOCM's current accruals ratio is substantially below its five-year
average of 19.4%.
- DocMorris does not currently pay a dividend. Of 3 firms within the
Food & Drug Retailing industry group, it is among the 2 companies
without a dividend.

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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

RELATIVE VALUATION
POSITIVE OUTLOOK: Multiples significantly Relative Valuation Score Averages
below the market or the stock's historic norms. Food & Drug Retailing Group: 8.0 Mid/Small Market Cap: 5.7
Food & Drug Retailing Sector: 8.0 SMI Index: 4.6

Relative Valuation Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive DOCM 10 10 10 10 10
GALE 4 5 5 5 6
Neutral VILN 3 3 4 4 NR

Negative
2020-06 2021-06 2022-06 2023-06

RELATIVE VALUATION INDICATORS

Price to Sales Trailing PE Forward PE
(33.3% weight) (33.3% weight) (33.3% weight)

DOCM
GALE

GALE GALE

VILN DOCM DOCM

VILN VILN

Price to Sales 0.3 Trailing PE -- Forward PE --

5-Yr Average 1.1 5-Yr Average -- 5-Yr Average --
Rel. to 5-Yr Avg. 70% Discount Rel. to 5-Yr Avg. -- Rel. to 5-Yr Avg. --
SMI Index 2.5 SMI Index 24.5 SMI Index 16.9
Rel. to SMI 87% Discount Rel. to SMI -- Rel. to SMI --

HIGHLIGHTS
- DocMorris currently has a Relative Valuation Rating of 10 which is - DOCM's 0.3 Price to Sales multiple is currently at the low end of its 5-
significantly above the SWISS MARKET index average rating of 4.6. year range (lowest 0.2 to highest 3.3).

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Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

PRICE TO SALES TRAILING PE

The most recent week's close price divided by the revenue per share. The most recent week's close price divided by the sum of the four most
recently reported quarterly earnings.
Price to Sales: 0.3 Trailing PE: --
5-Year Average: 1.1 5-Year Average: --
SMI Index Average: 2.5 SMI Index Average: 24.5
Food & Drug Retailing Group Average: 0.7 Food & Drug Retailing Group Average: --
4.0 >50
3.6 45
3.2 40
2.8 35
2.4 30
2.0 25 This valuation data is not available
1.6 20
1.2 5-Yr Average 15
0.8 10
0.4 5
0.0 <0
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022

FORWARD PE FORWARD PEG

The most recent week's close price divided by the sum of the four The Forward P/E divided by the five-year forecasted growth rate.
upcoming quarterly consensus estimates.
Forward PE: -- Forward PEG: --
5-Year Average: -- 5-Year Average: --
SMI Index Average: 16.9 SMI Index Average: 1.1
Food & Drug Retailing Group Average: 45.5 Food & Drug Retailing Group Average: --
>50 >5.0
45 4.5
40 4.0
35 3.5
30 3.0
25 This valuation data is not available 2.5 This valuation data is not available
20 2.0
15 1.5
10 1.0
5 0.5
<0 <0.0
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022

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DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

RISK
NEGATIVE OUTLOOK: Variable return patterns Risk Score Averages
(high volatility). Food & Drug Retailing Group: 5.5 Mid/Small Market Cap: 5.3
Food & Drug Retailing Sector: 5.5 SMI Index: 6.9

Risk Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive GALE 9 9 9 10 10
DOCM 1 1 1 1 1
Neutral VILN NR NR NR NR NR

Negative
2020-06 2021-06 2022-06 2023-06

RISK INDICATORS
Magnitude of Returns Volatility Beta (1-year) Correlation
(25% weight) (25% weight) (25% weight) (25% weight)

GALE GALE GALE

GALE
DOCM
DOCM

DOCM DOCM

VILN VILN VILN VILN

Daily Returns (Last 90 Days) Standard Deviation Beta vs. SMI 2.45 Correlation vs. SMI
Best 24.1% Last 90 Days 4.55 Positive Days Only 1.69 Last 90 Days 28%
Worst -10.1% Last 60 Months 17.40 Negative Days Only 2.44 Last 60 Months 16%
Monthly Returns (Last 60 Months) Intra-Day Swing (Last 90 Days) Beta vs. Group 1.93 Correlation vs. Group
Best 47.6% Average 5.1% Positive Days Only 1.97 Last 90 Days 95%
Worst -37.3% Largest 22.0% Negative Days Only 1.89 Last 60 Months 89%

HIGHLIGHTS RISK ANALYSIS

- DocMorris currently has a Risk Rating of 1, which is Last 90 Days Last 60 Months
significantly below the SWISS MARKET index average rating of Best Worst # # Largest Best Worst
6.9. Daily Daily Days Days Intra-Day Monthly Monthly
- On days when the market is up, DOCM shares tends to Peers Return Return Up Down Swing Return Return
outperform the SWISS MARKET index. However, on days DOCM 24.1% -10.1% 30 27 22.0% 47.6% -37.3%
when the market is down, the shares generally decrease by
more than the index. GALE 1.8% -2.3% 29 25 3.5% 9.9% -14.0%
- In the short term, DOCM has shown average correlation (>= VILN -- -- -- -- -- 7.1% -11.3%
0.2 and < 0.4) with the SWISS MARKET index. The stock has,
however, shown low correlation (>= -0.1 and < 0.2) with the SMI 1.4% -1.3% 34 26 1.4% 9.3% -7.5%
market in the long term.
- Over the last 90 days, DOCM shares have been more volatile
than the overall market. The stock's daily price fluctuations
have exceeded that of all SWISS MARKET index firms.

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Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

PRICE MOMENTUM Currency in CHF

NEGATIVE OUTLOOK: Weak recent price Price Momentum Score Averages

performance or entering historically poor Food & Drug Retailing Group: 5.5 Mid/Small Market Cap: 5.3
seasonal period. Food & Drug Retailing Sector: 5.5 SMI Index: 6.8

Price Momentum Score Trend (4-Week Moving Avg) Peers -6M -3M -1M -1W Current 1Y Trend

Positive GALE 9 10 10 10 10
DOCM 1 4 3 1 1
Neutral VILN NR NR 4 NR NR

Negative
2020-06 2021-06 2022-06 2023-06

PRICE MOMENTUM INDICATORS

Relative Strength Seasonality
(50% weight) (50% weight)

GALE

GALE

DOCM DOCM

VILN VILN

Relative Strength Indicator (Scale from 1 to 100) Average Monthly Return (Last 10 Years)
DOCM Industry Avg Jun Jul Aug
Last 10 Days 66 55 Company Avg 1.5% -5.2% -3.6%
Last 50 Days 52 48 Industry Avg -- -- --
Last 200 Days 41 46 Industry Rank -- -- --

PRICE PERFORMANCE
Daily close prices are used to calculate the DOCM DOCM SMI Mid
performance of the stock as compared to a
SMI Mid Close Price (2023-06-22) 39.46 2,633
relevant index over five time periods.
52-Week High 85.30 2,848
0.6%
1-Week 52-Week Low 23.02 2,266
-2.9%

1-Month
19.6% - The Price Momentum Rating for DocMorris is at its 3-year low
-2.8% of 1.
- On 2023-06-22, DOCM closed at 39.46, 53.7% below its 52-
-11.8% week high and 71.4% above its 52-week low.
3-Month
-2.5%
- DOCM shares are currently trading 12.0% above their 50-day
54.4% moving average of 35.23, and 13.1% above their 200-day
YTD moving average of 34.90.
6.3%

-53.4%
1-Year
3.8%

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Food & Drug Retailing / Food & Drug Retailing / Drug Retailers
DETAILED STOCK REPORT TIPS
The Stock Report from Refinitiv is a comprehensive, company-specific analysis that
includes a proprietary Stock Rating along with underlying component indicators and
supportive data elements. The report is updated daily, although some of the data
elements and the ratings are updated weekly.
Average Score
The Stock Reports Plus Average Score combines a quantitative analysis of five
widely-used investment decision making tools - Earnings, Fundamental, Relative
Valuation, Risk, and Price Momentum. First, a simple average of the five underlying
component ratings is calculated. Then, a normal distribution is used to rank each
stock across the market on a scale of 1 to 10, with 10 being most favorable. A
score of 8 to 10 is considered positive, 4 to 7 is neutral, and 1 to 3 is negative.
These five factors may be evaluated differently using alternative methodologies,
and the importance of individual factors varies across industry groups, market
capitalization and investment styles. Additional criteria should always be used to
evaluate a stock.
A company must have sufficient data available for at least three of the five
component indicators in order to receive an overall Average Score. Approximately
85% of the stocks within the coverage universe meet the criteria to generate a
score.
Indicator Components
The five indicators that comprise the stock rating are displayed. Like the stock
rating, the component rating scale is 1 to 10, with 10 being best. A company will
receive an ‘NR’ for No Rating if the required data elements or criteria are not met. A
detailed section for each component is included in the report.
Indicator Trends
Within each component section, historical score trends are displayed, typically using
a 4-week moving average over a timeframe of the past three years. The dotted
orange line indicates the average of the scores over those three years. The most
recent occurrences of the best and worst scores are also displayed on the chart in
grey boxes to put the current score into historical context.
Next to the trend chart for the company, current score averages are included, along
with peer company comparisons of values from 6 months ago, 3 months ago, 1
month ago, the most recent value from 1 week ago, and the current score. The four
closest industry peers are presented based on similar market capitalization.
Peer Analysis
● The Refinitiv Business Classification (TRBC) schema is used for industry
comparisons. It is designed to track and display the primary business of a
corporation by grouping together correlated companies that offer products and
services into similar end markets. The system includes 10 Economic Sectors, 28
Business Sectors, 54 Industry Groups, and 136 Industries.
● The Peer Analysis section of the report compares the company to its ten closest
peers. The peers are selected from the industry based on similar market
capitalization. The peer listing may have fewer than ten companies if there are
fewer than ten companies within that industry classification.
Highlights
The automated text-generation system from Refinitiv creates highlights
summarizing the most noteworthy data. The bullets will vary by company and will
change from week to week as different criteria are met.
Earnings
The Earnings Rating is based on a combination of three factors: earnings surprise,
estimate revision, and recommendation changes. Each factor is equally weighted.
Then, equal deciles are used to rank each stock across the market on a scale of 1
to 10, with 10 being most favorable. A stock needs to have at least two of the three
earnings factors in order to receive a score.
● Earnings Surprises - The number of positive and negative surprises within the
last 4 periods (quarters or years).
● Estimate Revisions - The number of up and down revisions and the average
percentage change of those revisions within a 4 week period.
● Recommendation Changes - The number of broker upgrades and downgrades in
the last 120 days.
Price Target
The price target is based on the predictions of analysts covering the stock and
shows the high, low and mean price expected within the next 12 months.
Earnings Per Share
The quarterly and annual earnings per share are presented when available, along
with the mean, high and low. Quarterly data is displayed for the past 4 quarters
(actual) and the next 2 quarters (estimated). Annual data is displayed for the past 2
years (actual) and the next 2 years (estimated).
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DETAILED STOCK REPORT
Report Date: 2023-Jun-25
Mean Estimate Trend
The mean estimates show how the consensus has changed over the past 30 days
and 90 days for the upcoming two quarters (when available) and two years. The
percentage change is calculated for the company as a means for comparison by
measuring the difference between the current consensus estimate and that of 90
days ago.
Analyst Recommendations
The I/B/E/S Mean is the average recommendation of all analysts covering the stock,
as provided by I/B/E/S, the Institutional Brokers Estimate System, from Refinitiv.
The recommendations are presented on a five-point standardized scale: strong buy,
buy, hold, sell, and strong sell.
Earnings Surprises
● The surprise summary includes the total number of time periods (and
percentage) in the last 12 quarters (quarterly) or last 4 years (annual) in which
earnings surprises were positive, negative, or in-line. In order to be recognized
as a positive or negative surprise, the percent must be greater than 2% above or
2% below the consensus, respectively.
● The surprise detail section includes a listing of the company's quarterly earnings
reported for the most recent 6 periods (quarters or years). The consensus
analyst estimate is provided to determine if the actual earnings report
represented a positive surprise, negative surprise, or in-line result.
Fundamental
The Fundamental Rating is based on a combination of four fundamental component
factors: profitability, debt, earnings quality, and dividend. Companies that do not
pay a dividend are not penalized. Each factor is equally weighted. Then, equal
deciles are used to rank each stock across the market on a scale of 1 to 10, with 10
being most favorable. A stock needs to have at least two of the four fundamental
factors present in order to receive a score.
● Profitability is comprised of four data elements.
- Revenue Growth: (Net Sales – Previous Net Sales) / Previous Net Sales
- Gross Margin: Gross Profit / Net Sales
- Return on Equity: Net Income / Total Equity
- Net Margin: Net Profit / Net Sales
● Debt is comprised of four data elements.
- Current Ratio: Current Assets / Current Liabilities
- Debt-to-Capital: Total Debt / Total Capital
- Interest Funding: (Interest Expense on Debt + Preferred Cash Dividends) /
Funds from Operations
- Interest Coverage: Earnings before Interest and Taxes / (Interest Expense on
Debt + Preferred Cash Dividends)
● Earnings Quality is comprised of four data elements.
- Operating Cash Yield: (Operating Cash Flow – Net Income) / Net Income
- Accruals: (Net Income – Operating Cash Flow – Investing Cash Flow) /
Average Net Operating Assets
- Days Sales in Inventory: 365 / (Cost of Goods Sold / Inventory)
- Days Sales in Receivables: 365 / (Net Sales / Receivables)
● Dividend is comprised of four data elements. The company must have a current
dividend yield.
- Dividend Growth Rate: (Dividends per Share – Previous Dividends per Share)
/ Previous Dividends per Share
- Dividend Payout: Dividends per Share / Earnings per Share
- Dividend Coverage: Funds from Operations / Cash Dividends
- Dividend Yield: Annual Dividends per Share / Current Market Price per Share
Indicator Trend
The fundamental indicator trend displays either quarterly scores over the past three
years or annual scores over the past six years, depending on the reporting periods
for the country. The best and worst scores can be easily determined from the
values shown on the chart for each quarter or year.
Relative Valuation
The Relative Valuation Rating is based on a combination of three component
factors: Price to Sales, Trailing P/E, and Forward P/E. Each factor is equally
weighted. Equal deciles are then used to rank each stock across the market on a
scale of 1 to 10, with 10 being most favorable. These common valuation metrics are
evaluated against the overall market, the index, and the company's own historic 5-
year averages. A stock needs to have at least one of the three relative valuation
factors in order to receive a score.
● Price to Sales: Close Price / (Sales for 4 Quarters or 1 Year / Shares
Outstanding)
● Trailing P/E: Close Price / Most Recent 4 Quarters or 1 Year of Earnings
● Forward P/E: Close Price / Upcoming 4 Quarters or 1 Year of Earnings
Valuation Averages
Negative values are excluded when calculating the averages. A maximum value of
100 is placed on Trailing P/E and Forward P/E, a maximum value of 5 is placed on
Forward PEG, and a maximum value of 20 is placed on Price to Sales when
DOCMORRIS (DOCM-EB)
Food & Drug Retailing / Food & Drug Retailing / Drug Retailers DETAILED STOCK REPORT
Report Date: 2023-Jun-25

calculating the averages. Higher values are rounded down to the maximum for the
averages.

Valuation Multiples
The valuation multiples provide the Trailing P/E, Forward P/E, Forward PEG, and
Price to Sales for the company and the S&P 500 index average. In addition, a
comparison of the current company’s values to its 5-year average and an industry
average are presented. A discount occurs when the company’s ratio is valued
more favorably (lower) than that to which it is compared.

Risk
The Risk Rating displays stocks on a scale of 1 to 10 with 10 being awarded to the
least risky stocks. It is derived by looking at a series of long-term (5-year) and
short-term (90-day) stock performance measures including volatility, magnitude of
returns, beta, and correlation. Each factor is equally weighted. Then, equal deciles
are used to rank each stock across the market. A stock needs to have at least two
of the four risk factors in order to receive a score.

● Magnitude of Returns – The best / worst daily returns in the past 90 days and the
best / worst monthly returns in the past 60 months.
● Volatility – The standard deviation of the stock price over the last 90 days and
last 60 months, along with the average and largest intra-day stock swing.
● Beta – Measures the tendency of a security’s returns to respond to swings in the
market, based on the beta of the company versus the relevant index.
● Correlation – Determines how closely the returns of the stock and the relevant
index move together, measured over the last 90 days and last 60 months.

Risk Analysis
Price analysis for the company and the relevant index is provided over two time
periods. Daily analysis is provided for the last 90 days, whereas monthly statistics
are used for the last 60 months.

Price Momentum
The Price Momentum Rating is based on a combination of two technical
performance factors: relative strength and seasonality. The factors are equally
weighted. Equal deciles are then used to rank each stock across the market on a
scale of 1 to 10, with 10 being most favorable. A stock needs to have data for the
relative strength factor in order to receive a score.

● Relative Strength – The relative strength of the company for the last 10 days, 50
days, and 200 days on a scale of 1 to 100.
● Seasonality – The average monthly return (price performance) for the current
month and next 2 months for the company and industry, over the past 10 years.
A lower industry rank indicates a higher return.

Price Performance
Daily close prices are used to calculate the price performance of the stock. The
performance of the relevant index is also displayed as a means of comparison.

DISCLAIMER

© 2023 Refinitiv. Republication or redistribution of Refinitiv content, including by

framing or similar means, is prohibited without the prior written consent of Refinitiv.
All information in this report is assumed to be accurate to the best of our ability.
Refinitiv is not liable for any errors or delays in Refinitiv content, or for any actions
taken in reliance on such content.

Any forward-looking statements included in the Refinitiv content are based on

certain assumptions and are subject to a number of risks and uncertainties that
could cause actual results to differ materially from current expectations. There is no
assurance that any forward-looking statements will materialize.

The content in this Refinitiv report does not constitute investment advice or a
recommendation to buy or sell securities of any kind. Past performance is not a
guarantee of future results. Investors should consider this report as only a single
factor when making an investment decision.

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