Overall Score

Environmental

Capex remains elevated at 31.0% of revenue and 2.59x depreciation, indicating ongoing infrastructure investment and resource intensity.

Free cash flow conversion is weak at 1.1% FCF yield and FCF is only 10.0% of operating cash flow, limiting near-term flexibility.

Social

No material change from last month; the company’s stable operating profile and cash generation support a neutral social assessment.

Dividend yield of 3.6% suggests continued shareholder return support, but it does not materially change the social profile.

Governance

Balance sheet leverage remains very low with debt-to-equity at 0.01 and net debt-to-EBITDA slightly negative, supporting conservative governance risk.

Interest coverage of 4.2x and debt-service coverage of 4.0x indicate manageable financial obligations, though not strong enough to warrant a higher score.