Synchrony Financial's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Synchrony Financial (SYF) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Synchrony Financial vs Its Competitors
- TTM: Trailing 12-month revenue of 15,324M vs 1,568,822M combined for tracked competitors (1.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+23.9% annualized vs trailing 12 months), vs holding steady (-1.8%) for its tracked peer group.
- Growth: Synchrony Financial generated 35.8% revenue growth year over year in Q2 2026, vs 10.7% for its tracked competitors combined.
- Profitability: Its 18.7% net margin compares with 16.0% for the peer group.
- Scale: Synchrony Financial ranks #7 of 117 companies by market capitalization in the Miscellaneous Financial Services industry, holding 3.6% of industry market cap.
- Peer revenue share: Synchrony Financial accounted for 1.2% of combined revenue among its tracked peer group, up from 1.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.77M compares with $0.55M for the peer group (1.4x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SYF Sales vs. its Competitors, Q2 2026
Synchrony Financial reported revenue growth of 35.84 % year on year in Q2 2026, above its competitors' combined revenue growth of 10.66 %.
With a net margin of 18.65 %, Synchrony Financial achieved higher profitability than its competitors (15.96 %).
Synchrony Financial generated 1.22 % of the combined sales of its peer group, up from 0.99 % a year earlier.
Synchrony Financial vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Synchrony Financial and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Synchrony Financial | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (1) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (7) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Synchrony Financial's competitor groups requires a Commercial License.
For context: the Miscellaneous Financial Services industry grew revenue 293.3% year over year, combined, vs 35.8% for Synchrony Financial. Synchrony Financial's share of combined industry revenue moved from 4.15% to 1.43%, a loss of 2.72 percentage points.
Synchrony Financial's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Synchrony Financial | Yes | Yes | Yes | No |
| Competitors combined (24) | ||||
| High-Confidence Competitors (1) | ||||
| Similar-Size Competitors (10) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SYF Stock Performance relative to its Competitors
SYF Stock Performance relative to High-Confidence Competitors
SYF Stock Performance relative to Similar-Size Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Marcus Corp | 282.9% | Outperformed |
| 2 | Everi Holdings Inc | 282.9% | Outperformed |
| 3 | Merchants Bancorp | 282.9% | Outperformed |
| 4 | Discover Financial Services | 282.9% | Outperformed |
| 5 | Apple Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Synchrony Financial's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Synchrony Financial's Comment on Competition and Industry Peers
Our industry is highly competitive and is becoming more competitive. We compete for relationships with partners in connection with retaining existing or establishing new consumer credit programs. Our primary competitors for partners include major financial institutions such as Alliance Data, American Express, Capital One, Chase, Citibank, TD Bank and Wells Fargo, and to a lesser extent, potential partners’ own in-house financing capabilities. We compete for partners on the basis of a number of factors, including program financial and other terms, underwriting standards, marketing expertise, service levels, product and service offerings (including incentive and loyalty programs), technological capabilities and integration, brand and reputation. In addition, some of our competitors for partners have a business model that allows for their partners to manage underwriting (e.g., new account approval), customer service and collections, and other core banking responsibilities that we retain.
We also compete for customer usage of our products. Consumer credit provided,
and credit card payments made, using our cards constitute only a small percentage
of overall consumer credit provided and credit card payments in the United States.
Consumers have numerous financing and payment options available to them. As
a form of payment, our products compete with cash, checks, debit cards, Visa
and MasterCard credit cards, as well as American Express, Discover Card, other
private-label card brands, and, to a certain extent, prepaid cards. We also
compete with non-traditional providers such as PayPal. In the future, we expect
our products may face increased competition from new emerging payment technologies,
such as Apple Pay and Square, as well as a consortia of merchants that are expected
to combine payment systems to reduce interchange and other costs (e.g., CurrentC),
to the extent that our products are not accepted in, or compatible with, such
technologies. We may also face increased competition from current competitors
or others who introduce or embrace disruptive technology that significantly
changes the consumer credit and payment industry. We compete for customers and
their usage of our products, and to minimize transfers to competitors of our
customers’ outstanding balances, based on a number of factors, including
pricing (interest rates and fees), product offerings, credit limits, incentives
(including loyalty programs) and customer service. Some of our competitors provide
a broader selection of services, including home and automobile loans, debit
cards and bank branch ATM access, which may position them better among customers
who prefer to use a single financial institution to meet all of their financial
needs. In addition, some of our competitors are substantially larger than we
are, may have substantially greater resources than we do or may offer a broader
range of products and services than we do. Moreover, some of our competitors,
including new and emerging competitors in the digital and mobile payments space,
are not subject to the same regulatory requirements or legislative scrutiny
to which we are subject, which also could place us at a competitive disadvantage.
In our retail deposits business, we have acquisition and servicing capabilities
similar to other direct-banking competitors. We compete for deposits with traditional
banks, and in seeking to grow our direct-banking business, we compete with other
banks that have direct-banking models similar to ours, such as Ally Financial,
American Express, Capital One 360 (ING), Discover, Nationwide, Sallie Mae and
United Services Automobile Association (“USAA"). Competition among
direct banks is intense because online banking provides customers the ability
to quickly and easily deposit and withdraw funds and open and close accounts
in favor of products and services offered by competitors.
Publicly Traded Peers of Synchrony Financial
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Synchrony Financial | 23,894.83 | 15,324.00 |
| Apple Inc | 4,979,446.36 | 466,823.00 |
| Walmart Inc | 867,447.94 | 735,840.00 |
| Visa Inc | 704,589.84 | 43,027.00 |
| Mastercard Incorporated | 501,773.58 | 35,083.00 |
| Bank Of America Corporation | 404,609.27 | 121,098.00 |
| SUBTOTAL | 8,441,790.69 | 1,746,147.38 |
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Sources: Synchrony Financial's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Synchrony Financial versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Synchrony Financial's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Affirm Holdings Inc | Named by the company | 85% |
| Marcus Corp | Named by the company | 85% |
| Shopify Inc | Named by the company | 85% |
| Ally Financial Inc | Named by the company | 85% |
| Bank Bradesco | Named by the company | 85% |
| Capital one financial corp | Named by the company | 85% |
| Barclays Plc | Named by the company | 85% |
| Discover Financial Services | Named by the company | 85% |
| Apple Inc | Named by the company | 85% |
| Visa Inc | Named by the company | 85% |
| American Express Company | Named by the company | 85% |
| Mastercard Incorporated | Named by the company | 85% |
| Merchants Bancorp | Named by the company | 85% |
| Walmart Inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Synchrony Financial's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Synchrony Financial's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Apple Inc | Americas 41.84 % |
| Walmart Inc | Walmart US 66.44 % |
| Mastercard Incorporated | Payment Solutions 100.00 % |
| Citigroup inc | Markets 29.42 % |
| Euronet Worldwide Inc | Cross-Border Payments 39.66 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
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Synchrony Financial's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Synchrony Financial | 23,895 | 766,200 | 172,800 |
| Apple Inc | 4,979,446 | 2,812,187 | 776,687 |
| Walmart Inc | 867,448 | 350,400 | 10,714 |
| Visa Inc | 704,590 | 1,261,789 | 652,082 |
| Mastercard Incorporated | 501,774 | 881,482 | 408,467 |
| Bank Of America Corporation | 404,609 | 568,535 | 158,005 |
| PEERS TOTAL | 8,417,896 | 548,862 | 91,121 |
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Synchrony Financial's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Visa Inc | Non-US 61.39 % |
| Mastercard Incorporated | International Markets 57.56 % |
| Euronet Worldwide Inc | Europe 60.43 % |
| The Western Union Company | North America Member 34.31 % |
| Lesaka Technologies Inc | Rest Of Africa 5.82 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Synchrony Financial's Position in Industry Market Structure
Market-capitalization share and concentration across all 103 companies in Synchrony Financial's industry classification, broader than the peer set above. Market cap in millions of $.Synchrony Financial ranks #7 of 103 companies by market capitalization in its industry, holding 3.65 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,294, indicating a unconcentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | American Express Company | 207,244 | 31.55 % |
| 2 | Nu Holdings Ltd | 61,219 | 9.32 % |
| 3 | Coinbase Global Inc | 51,945 | 7.91 % |
| 4 | Eason Technology Limited | 38,113 | 5.80 % |
| 5 | Strategy Inc | 1,234 | 5.2% |
| 6 | Federal National Mortgage Association Fannie Mae | 1,234 | 5.2% |
| 7 | Synchrony Financial | 23,962 | 3.65 % |
| 8 | Circle Internet Group Inc | 1,234 | 5.2% |
| 9 | Sofi Technologies Inc | 1,234 | 5.2% |
| 10 | Bitmine Immersion Technologies Inc | 1,234 | 5.2% |
Market cap and industry share for the rest of Synchrony Financial's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Synchrony Financial's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 2 | Nu Holdings Ltd | 61,219 | -20.94 % |
| 3 | Coinbase Global Inc | 51,945 | -35.70 % |
| 4 | Eason Technology Limited | 38,113 | -91.79 % |
| 5 | Strategy Inc | 36,484 | -5.94 % |
| 6 | Federal National Mortgage Association Fannie Mae | 1,234 | 12.3% |
| 7 | Synchrony Financial | 23,962 | -3.45 % |
| 8 | Circle Internet Group Inc | 1,234 | 12.3% |
| 9 | Sofi Technologies Inc | 1,234 | 12.3% |
| 10 | Bitmine Immersion Technologies Inc | 1,234 | 12.3% |
| 11 | Iren Limited | 1,234 | 12.3% |
| 12 | Federal Home Loan Mortgage Corporation | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Synchrony Financial's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Synchrony Financial's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Financial Services industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (80 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 53.42 % (avg) | - |
| Operating Margin | - | industry median | - |
| EBITDA Margin | 51.21 % | 2.15 % (avg) | +49.1 pp |
| Capital Intensity (Capex / Revenue) | 0.00 % | 4.86 % (avg) | -4.9 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Synchrony Financial's Valuation vs Competitive Position
Valuation multiples vs the Miscellaneous Financial Services industry average (80 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 7.6x | 18.8x | -11.2x |
| EV / EBITDA | 2.4x | 15.3x | -12.9x |
| P/B | 1.5x | 3.1x | -1.6x |
| Return on Equity | 20.57 % | industry aggregate | 27.46 % |
| Return on Invested Capital | - | 0.51 % (avg) | - |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Synchrony Financial's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 7.67 % | 19.86 % | -26.89 % | 47.35 % | -9.75 % | -10.35 % | 13.04 % | 7.52 % |
| Operating Margin | 62.22 % | 67.32 % | 57.30 % | 71.68 % | 65.66 % | 57.98 % | 62.19 % | 62.68 % |
| Return on Invested Capital | 13.13 % | 17.26 % | 13.42 % | 24.12 % | 10.69 % | 5.24 % | 5.86 % | 17.48 % |
| P/E | 6.9x | 6.5x | 14.1x | 6.4x | 5.7x | 6.7x | 7.9x | 8.6x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Synchrony Financial's BCG Growth-Share Matrix
Relative market share (vs Synchrony Financial's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Synchrony Financial falls in the Dog quadrant: relative market share of 0.12x vs its largest competitor, in an industry growing revenue 3.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Synchrony Financial's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 1,294 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 4.86 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Synchrony Financial's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Synchrony Financial's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Synchrony Financial's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Synchrony Financial falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Synchrony Financial's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 27.5 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+23.9% annualized vs trailing 12 months).
Weaknesses
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.12x).
Opportunities
No rule matched.
Threats
- Losing revenue share to the broader industry (-2.7 points over the past year).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Synchrony Financial's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Synchrony Financial | 0.25 | 1.68 | 0.93 |
| Apple Inc | 0.26 | 0.96 | 0.99 |
| Walmart Inc | 0.10 | 0.78 | 0.38 |
| Visa Inc | 0.48 | 1.09 | 0.66 |
| Mastercard Incorporated | 0.46 | 1.05 | 2.91 |
| Bank Of America Corporation | 0.09 | 0.52 | 1.25 |
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Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Synchrony Financial's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Synchrony Financial | Q2 2026 | +35.8 % | -6.4 % |
| Apple Inc | Q2 2026 | +16.4 % | +27.1 % |
| Walmart Inc | Q2 2026 | +5.9 % | -8.7 % |
| Visa Inc | Q1 2026 | +17.1 % | +31.5 % |
| Mastercard Incorporated | Q2 2026 | +14.1 % | +18.6 % |
| Bank Of America Corporation | Q2 2026 | +15.0 % | +27.5 % |
| PEERS TOTAL | +11.2 % | +41.3 % |
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Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Synchrony Financial's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Synchrony Financial | Q2 2026 | +4.8 % | - |
| Apple Inc | Q2 2026 | +8.6 % | -29.1 % |
| Walmart Inc | Q2 2026 | +4.5 % | +16.7 % |
| Visa Inc | Q1 2026 | - | - |
| Mastercard Incorporated | Q2 2026 | - | +128.7 % |
| Bank Of America Corporation | Q2 2026 | - | - |
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Synchrony Financial's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Synchrony Financial | 2.88% | 6.51% | 20.57% |
| Apple Inc | 35.02% | 60.14% | 142.67% |
| Walmart Inc | 7.78% | 13.37% | 21.78% |
| Visa Inc | 22.56% | 31.88% | 59.24% |
| Mastercard Incorporated | 29.89% | 51.37% | 232.26% |
| Bank Of America Corporation | 0.97% | 2.76% | 11.13% |
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ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Synchrony Financial's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Synchrony Financial | 7.43 | 1.56 |
| Apple Inc | 38.90 | 10.67 |
| Walmart Inc | 39.25 | 1.18 |
| Visa Inc | 31.78 | 16.38 |
| Mastercard Incorporated | 31.25 | 14.30 |
| Bank Of America Corporation | 12.78 | 3.34 |
| PEERS AVERAGE | 29.03 | 4.83 |
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P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.