Ennis (EBF)
Market Price (12/29/2025): $18.31 | Market Cap: $470.9 MilSector: Industrials | Industry: Office Services & Supplies
Ennis (EBF)
Market Price (12/29/2025): $18.31Market Cap: $470.9 MilSector: IndustrialsIndustry: Office Services & Supplies
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 29%, Dividend Yield is 20%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 24%, FCF Yield is 9.4% | Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -76% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.6%, Rev Chg QQuarterly Revenue Change % is -0.4% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% | Key risksEBF key risks include [1] the secular decline of its traditional print business and [2] the significant integration risks from its acquisition-led strategy to counteract this decline. | |
| Low stock price volatilityVol 12M is 23% | ||
| Megatrend and thematic driversMegatrends include E-commerce & DTC Adoption, and Circular Economy & Recycling. Themes include Direct-to-Consumer Brands (Staples), Supply Chain Digitization, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 29%, Dividend Yield is 20%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 24%, FCF Yield is 9.4% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include E-commerce & DTC Adoption, and Circular Economy & Recycling. Themes include Direct-to-Consumer Brands (Staples), Supply Chain Digitization, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -44%, 3Y Excs Rtn is -76% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -3.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.6%, Rev Chg QQuarterly Revenue Change % is -0.4% |
| Key risksEBF key risks include [1] the secular decline of its traditional print business and [2] the significant integration risks from its acquisition-led strategy to counteract this decline. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
Here are the key points for why Ennis (EBF) stock moved during the approximate time period from August 31, 2025, to today:
1. Ennis announced its second-quarter fiscal year 2025 earnings, which generally outperformed expectations. The company reported financial results for the quarter ended August 31, 2025, with revenues of $98.7 million, a slight decrease from the prior year, but diluted earnings per share (EPS) rose to $0.51 from $0.40, surpassing analyst estimates. This positive earnings surprise contributed to a 2.46% increase in the stock price the day after the report.
2. Ennis completed the acquisition of CFC Print & Mail in November 2025. This strategic acquisition aimed to expand Ennis's capabilities in business document printing and mailing services, contributing approximately $5.8 million to quarterly revenues and potentially improving its market position.
Show more
Stock Movement Drivers
Fundamental Drivers
The 1.1% change in EBF stock from 9/28/2025 to 12/28/2025 was primarily driven by a 7.3% change in the company's Net Income Margin (%).| 9282025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 18.10 | 18.29 | 1.06% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 388.71 | 388.35 | -0.09% |
| Net Income Margin (%) | 10.12% | 10.86% | 7.34% |
| P/E Multiple | 11.94 | 11.15 | -6.63% |
| Shares Outstanding (Mil) | 25.96 | 25.72 | 0.92% |
| Cumulative Contribution | 1.05% |
Market Drivers
9/28/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| EBF | 1.1% | |
| Market (SPY) | 4.3% | 20.7% |
| Sector (XLI) | 3.0% | 20.6% |
Fundamental Drivers
The 2.6% change in EBF stock from 6/29/2025 to 12/28/2025 was primarily driven by a 6.6% change in the company's Net Income Margin (%).| 6292025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 17.82 | 18.29 | 2.65% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 394.62 | 388.35 | -1.59% |
| Net Income Margin (%) | 10.19% | 10.86% | 6.56% |
| P/E Multiple | 11.52 | 11.15 | -3.24% |
| Shares Outstanding (Mil) | 26.02 | 25.72 | 1.15% |
| Cumulative Contribution | 2.64% |
Market Drivers
6/29/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| EBF | 2.6% | |
| Market (SPY) | 12.6% | 35.1% |
| Sector (XLI) | 7.5% | 39.9% |
Fundamental Drivers
The -8.4% change in EBF stock from 12/28/2024 to 12/28/2025 was primarily driven by a -11.9% change in the company's P/E Multiple.| 12282024 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 19.96 | 18.29 | -8.39% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 404.20 | 388.35 | -3.92% |
| Net Income Margin (%) | 10.16% | 10.86% | 6.96% |
| P/E Multiple | 12.65 | 11.15 | -11.85% |
| Shares Outstanding (Mil) | 26.01 | 25.72 | 1.12% |
| Cumulative Contribution | -8.40% |
Market Drivers
12/28/2024 to 12/28/2025| Return | Correlation | |
|---|---|---|
| EBF | -8.4% | |
| Market (SPY) | 17.0% | 40.5% |
| Sector (XLI) | 19.2% | 45.0% |
Fundamental Drivers
The 6.5% change in EBF stock from 12/29/2022 to 12/28/2025 was primarily driven by a 20.4% change in the company's Net Income Margin (%).| 12292022 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 17.17 | 18.29 | 6.52% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 421.53 | 388.35 | -7.87% |
| Net Income Margin (%) | 9.02% | 10.86% | 20.37% |
| P/E Multiple | 11.64 | 11.15 | -4.23% |
| Shares Outstanding (Mil) | 25.80 | 25.72 | 0.31% |
| Cumulative Contribution | 6.52% |
Market Drivers
12/29/2023 to 12/28/2025| Return | Correlation | |
|---|---|---|
| EBF | 2.8% | |
| Market (SPY) | 48.4% | 37.2% |
| Sector (XLI) | 41.4% | 44.8% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| EBF Return | -13% | 15% | 19% | 4% | 12% | -9% | 25% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| EBF Win Rate | 42% | 67% | 42% | 42% | 58% | 50% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| EBF Max Drawdown | -34% | 0% | -12% | -11% | -11% | -18% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See EBF Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | EBF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -23.1% | -25.4% |
| % Gain to Breakeven | 30.0% | 34.1% |
| Time to Breakeven | 42 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -35.3% | -33.9% |
| % Gain to Breakeven | 54.6% | 51.3% |
| Time to Breakeven | 866 days | 148 days |
| 2018 Correction | ||
| % Loss | -23.3% | -19.8% |
| % Gain to Breakeven | 30.4% | 24.7% |
| Time to Breakeven | 1,409 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -74.9% | -56.8% |
| % Gain to Breakeven | 298.6% | 131.3% |
| Time to Breakeven | Not Fully Recovered days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Ennis's stock fell -23.1% during the 2022 Inflation Shock from a high on 6/11/2021. A -23.1% loss requires a 30.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth over time.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Ennis, Inc. designs, manufactures, and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, Specialized Printed Forms, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Falcon Business Forms, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and Ace Forms brands. It also provides point of purchase advertising for large franchise and fast-food chains, as well as kitting and fulfillment under the Adams McClure brand name; and presentation and document folders under the Admore, Folder Express, and Independent Folders brands. In addition, the company offers custom printed, high performance labels, and custom and stock tags under the Ennis Tag & Label brand name; custom and stock tags and labels under the Allen-Bailey Tag & Label, Atlas Tag & Label, Kay Toledo Tag, and Special Service Partners brands; custom and imprinted envelopes under the Trade Envelopes, Block Graphics, Wisco, and National Imprint Corporation brands; and financial and security documents under the Northstar and General Financial Supply brands. It distributes business products and forms through independent distributors. The company was formerly known as Ennis Business Forms, Inc. Ennis, Inc. was incorporated in 1909 and is headquartered in Midlothian, Texas.
AI Analysis | Feedback
- Grainger for custom printed business products.
- Vistaprint for the wholesale B2B market.
- Deluxe Corporation, but with a broader range of custom print products including apparel.
AI Analysis | Feedback
- Business Forms: Ennis produces custom and stock multi-part forms, continuous forms, and digital forms essential for business operations and record-keeping.
- Labels and Tags: They manufacture a wide variety of custom and stock labels for product identification, shipping, and branding, alongside specialized tags for various industrial and retail applications.
- Envelopes: Ennis offers custom and stock envelopes designed for mailing, document storage, and promotional communication needs.
- Commercial Print Solutions: This category includes specialized printed materials such as presentation folders, custom business checks, and other secure or bespoke documents for businesses.
- Promotional Products: Ennis provides branded merchandise, including apparel, calendars, and other items utilized for marketing, corporate identity, and client engagement.
AI Analysis | Feedback
Ennis (symbol: EBF) primarily sells to other companies through a business-to-business (B2B) model.
Rather than selling directly to end-user companies, Ennis operates through an extensive network of approximately 40,000 independent distributors, dealers, and resellers across the United States and Canada.
These distributors, dealers, and resellers then market and sell Ennis's wide range of business forms, printed products, and promotional items to various end-user organizations, including:
- Governmental entities
- Commercial enterprises of all sizes
- Healthcare organizations
- Financial institutions
- Automotive businesses
- Retail businesses
- And many other organizations across a multitude of industries.
Due to this decentralized distribution model and the lack of sales concentration to any single entity, Ennis does not identify specific major customer companies or their symbols in its public filings. No single customer accounts for 10% or more of Ennis's net sales.
AI Analysis | Feedback
nullAI Analysis | Feedback
Keith S. Walters Chairman, CEO & President
Keith S. Walters joined Ennis, Inc. in August 1997 as Vice President of Commercial Printing Operations and was appointed Chief Executive Officer in November 1997. His role expanded to include Chairman of the Board and President in July 1998. Under his leadership, Ennis has grown to become the largest wholesale printer in the nation. During his tenure as CEO, Mr. Walters has overseen 68 acquisitions, diversifying the company beyond traditional business forms. Prior to Ennis, he served as Vice President of Manufacturing at Atlas/Soundolier from 1989 to 1997 and spent 15 years with United Technologies Corporation's Automotive Division in manufacturing and operations.
Vera Burnett Chief Financial Officer; Treasurer
Vera Burnett is the Chief Financial Officer and Treasurer of Ennis, Inc. She joined the company in February 1997 and served as the company's accounting manager since June 1997. Ms. Burnett was appointed as Chief Financial Officer and Treasurer on an interim basis in September 2020 before her full appointment to those positions. She holds a Bachelor of Business Administration in Accounting from the University of Texas at Arlington and is a Certified Public Accountant (CPA) and Chartered Global Management Accountant (CGMA).
Wade Brewer Chief Operating Officer
Wade Brewer serves as the Chief Operating Officer of Ennis, Inc. He brings 38 years of print industry experience to this role. Mr. Brewer has served as Ennis' Director of Manufacturing since 2021 and, prior to that, held the title of Business Unit Director for nine years, where he helped manage the company's numerous production facilities. He began his printing career in 1984 at Transkirt as a Senior Product Manager, playing a key part in developing their pressure seal products.
Dan Gus Assistant Secretary; General Counsel
Dan Gus was appointed General Counsel and Assistant Secretary of Ennis, Inc. in 2021. He previously served as outside counsel for Ennis, Inc. for several years.
AI Analysis | Feedback
The key risks to Ennis, Inc. (EBF) are primarily driven by the fundamental changes occurring within its industry.
- Secular Decline of the Traditional Printing Industry: Ennis operates within the traditional printing industry, which is experiencing a continuous decline as businesses increasingly shift towards digital solutions. This transition impacts demand for printed business forms, envelopes, and mailers, leading to shrinking print volumes and ongoing revenue declines for Ennis.
- Risks Associated with Acquisition Strategy: To counteract the organic decline in its core markets, Ennis relies on an acquisition strategy to stabilize revenue and achieve growth. This strategy, however, carries significant integration risks, as the company must successfully identify, acquire, and integrate smaller competitors.
- Inability to Recover Rising Costs: Ennis faces the ongoing challenge of recovering the rising costs of raw materials, energy, freight, labor, and benefits in a highly price-competitive and volatile market. While the company has demonstrated an ability to improve profit margins through cost management and pricing discipline, sustained increases in operational expenses without corresponding price adjustments could pressure profitability.
AI Analysis | Feedback
The primary clear emerging threat to Ennis (EBF) is the accelerating and increasingly comprehensive shift towards digital document management, electronic forms, and paperless business processes across industries. This trend, driven by advancements in e-signature platforms, integrated enterprise resource planning (ERP) systems, cloud-based document solutions, and AI-powered automation, significantly reduces the need for the physical printed products that constitute Ennis's core business. Companies are increasingly adopting these digital alternatives for cost savings, efficiency gains, and environmental sustainability, continuously eroding the demand for traditional business forms, labels, and other printed materials.
AI Analysis | Feedback
Ennis, Inc. (EBF) primarily operates in the North American market, with a significant focus on the United States, manufacturing and supplying a diverse range of printed business products for the wholesale trade. Their main products and services include business forms, checks, commercial printing, promotional products, envelopes, tags, labels, pressure seal, presentation products, plastic cards, and multimedia packaging. Approximately 96% of Ennis's printed business products are custom or semi-custom made.
The addressable markets for Ennis's main products and services in the U.S. are as follows:
- Labels: The United States print label market size is valued at USD 7.96 billion in 2025 and is forecast to reach USD 9.23 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.03%. Another estimate indicates the US label market size was USD 7.13 billion in 2024 and is projected to reach USD 9.12 billion by 2032, with a CAGR of 3.12% from 2025-2032. The USA labels market is also projected to grow from USD 16.1 billion in 2025 to USD 23.2 billion by 2035, at a CAGR of 3.7%.
- Commercial Printing: The U.S. commercial printing market generated a revenue of USD 126.99 billion in 2024 and is expected to reach USD 150.50 billion by 2030, with a CAGR of 3.1% from 2025 to 2030.
- Promotional Products: The U.S. promotional products market size was valued at USD 33.0 billion in 2023 and is projected to reach USD 44.5 billion by 2028, growing at a CAGR of 6.2%.
- Business Forms: The global business forms market size was USD 12.0 billion in 2022 and is projected to reach USD 17.5 billion by 2032, exhibiting a CAGR of 3.8%.
AI Analysis | Feedback
Ennis, Inc. (EBF) is expected to drive future revenue growth over the next 2-3 years primarily through strategic acquisitions, diversification into specialized printing and packaging, and continuous operational efficiency improvements. These initiatives are crucial as the company navigates a challenging environment within the traditional printing industry. Here are 3-5 expected drivers of future revenue growth:- Strategic Acquisitions: Ennis has historically utilized acquisitions to expand its market presence and revenue. Recent reports indicate that acquisitions have contributed to quarterly revenue, offsetting weaker volume demand in its existing operations. The company's management has stated a focus on pursuing acquisitions without incurring debt, suggesting this will continue to be a key growth strategy. For example, the acquisition of Northeastern Envelope in April 2025 is a recent instance of this strategy.
- Diversification into Specialized Products and Packaging: While operating in a declining traditional printing market, Ennis has been evolving into a more diversified provider of print, packaging, and software services. The company offers a range of specialized printed products, including custom presentation folders, promotional items, and specialty packaging, which cater to various industries such as healthcare, financial services, and retail. This focus on customized and value-added solutions helps mitigate the decline in demand for conventional business forms.
- Operational Efficiency and Technology Investments: Although not a direct revenue driver, improved operational efficiency and investments in digital technologies can support revenue growth by enhancing competitiveness, optimizing production, and potentially allowing for more competitive pricing or expanded service offerings. Ennis has made investments in digital technologies, supply-chain integration, and facility expansions to adapt to changing market demands, alongside a focus on operational efficiency and product innovation.
- Customer Responsiveness and E-commerce Expansion: Ennis emphasizes customer responsiveness and leverages a direct sales force and regional production sites to deliver customized solutions and just-in-time inventory management. The company's e-commerce portal further extends its reach, enabling clients to place standardized or custom orders online and access global shipping options. By catering to specific customer needs and expanding online ordering capabilities, Ennis can aim to retain and grow its customer base.
AI Analysis | Feedback
Share Repurchases
- Ennis, Inc. had $13.1 million remaining available for share repurchases under its program as of August 31, 2025.
- During the fiscal year ended February 28, 2023, the company repurchased 64,082 shares of common stock at an average price of $17.46 per share.
- In the fiscal year ended February 28, 2022, Ennis repurchased 254,679 shares of common stock at an average price of $18.81 per share.
Outbound Investments
- In April 2025, Ennis completed a $35 million acquisition of Northeastern Envelope.
- In June 2024, Ennis acquired Printing Technologies, Inc. (PTI) for approximately $4.9 million, aiming to expand existing offerings and reach new customer segments.
- In November 2022, Ennis acquired School Photo Marketing (SPM) for $8.8 million, which expanded product lines and increased geographical footprint.
Capital Expenditures
- Capital expenditure for the trailing 12 months ending May 31, 2025, was approximately -$4.75 million.
- Capital expenditure for the trailing 12 months ending May 31, 2024, was approximately -$6.91 million.
- Capital expenditure for the trailing 12 months ending May 31, 2023, was approximately -$5.40 million.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to EBF. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.3% | 18.3% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.5% | 5.5% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 5.7% | 5.7% | -0.4% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Ennis
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.32 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 15.3% |
| Op Mgn 3Y Avg | 14.7% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 16.7% |
| CFO/Rev 3Y Avg | 18.0% |
| FCF/Rev LTM | 14.8% |
| FCF/Rev 3Y Avg | 15.9% |
Price Behavior
Price Behavior
| Market Price | $18.29 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 09/24/1987 | |
| Distance from 52W High | -12.2% | |
| 50 Days | 200 Days | |
| DMA Price | $17.33 | $17.95 |
| DMA Trend | down | indeterminate |
| Distance from DMA | 5.5% | 1.9% |
| 3M | 1YR | |
| Volatility | 21.6% | 23.3% |
| Downside Capture | 24.51 | 61.03 |
| Upside Capture | 24.52 | 42.70 |
| Correlation (SPY) | 20.9% | 40.2% |
EBF Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.28 | 0.33 | 0.48 | 0.77 | 0.48 | 0.52 |
| Up Beta | -0.06 | 0.36 | 0.72 | 1.30 | 0.46 | 0.52 |
| Down Beta | -0.68 | 0.58 | 0.39 | 0.43 | 0.45 | 0.47 |
| Up Capture | 87% | 2% | 24% | 46% | 27% | 18% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 10 | 17 | 26 | 54 | 114 | 374 |
| Down Capture | 30% | 37% | 64% | 99% | 72% | 83% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 9 | 23 | 35 | 66 | 126 | 363 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of EBF With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| EBF | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -6.7% | 19.3% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 23.2% | 18.8% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | -0.37 | 0.80 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 44.6% | 40.3% | 3.6% | 7.4% | 48.9% | 14.8% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of EBF With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| EBF | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 8.0% | 13.8% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 21.9% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.31 | 0.65 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 50.4% | 40.4% | 5.1% | 9.7% | 42.5% | 14.3% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of EBF With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| EBF | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 6.1% | 13.5% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 26.5% | 19.9% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.26 | 0.60 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 49.9% | 43.4% | 1.3% | 14.5% | 43.7% | 15.2% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 12/22/2025 | 0.8% | ||
| 9/22/2025 | 2.5% | 1.2% | -3.9% |
| 4/21/2025 | -7.8% | -4.4% | 3.7% |
| 12/23/2024 | 0.7% | 2.9% | 1.6% |
| 9/23/2024 | 2.8% | -0.8% | -2.6% |
| 6/17/2024 | 3.7% | 4.5% | 14.6% |
| 12/18/2023 | -5.9% | -2.3% | -9.4% |
| 9/18/2023 | 2.4% | 1.2% | 3.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 9 | 10 |
| # Negative | 9 | 9 | 8 |
| Median Positive | 2.4% | 2.1% | 4.2% |
| Median Negative | -3.2% | -2.2% | -3.9% |
| Max Positive | 5.2% | 5.7% | 14.6% |
| Max Negative | -7.8% | -4.4% | -9.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 8312025 | 10032025 | 10-Q 8/31/2025 |
| 5312025 | 6302025 | 10-Q 5/31/2025 |
| 2282025 | 5132025 | 10-K 2/28/2025 |
| 11302024 | 1072025 | 10-Q 11/30/2024 |
| 8312024 | 10032024 | 10-Q 8/31/2024 |
| 5312024 | 6262024 | 10-Q 5/31/2024 |
| 2292024 | 5102024 | 10-K 2/29/2024 |
| 11302023 | 1052024 | 10-Q 11/30/2023 |
| 8312023 | 10032023 | 10-Q 8/31/2023 |
| 5312023 | 7052023 | 10-Q 5/31/2023 |
| 2282023 | 5122023 | 10-K 2/28/2023 |
| 11302022 | 1112023 | 10-Q 11/30/2022 |
| 8312022 | 9302022 | 10-Q 8/31/2022 |
| 5312022 | 7012022 | 10-Q 5/31/2022 |
| 2282022 | 5092022 | 10-K 2/28/2022 |
| 11302021 | 1052022 | 10-Q 11/30/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.