Somnigroup International Inc. SGI R3K
Company Overview
Somnigroup International Inc., together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows and other accessories under the Tempur-Pedic, Sealy, Stearns & Foster, and Sleepy's brands. The company operates a portfolio of retail brands, including Mattress Firm, Dreams, Tempur-Pedic retail stores, and SOVA; and licenses Sealy, Tempur, and Stearns & Foster brands, as well as technology and trademarks to other manufacturers. It sells its products through company-owned stores, online, and call centers; and third-party retailers, including third party distribution, hospitality, and healthcare. The company was formerly known as Tempur Sealy International, Inc. and changed its name to Somnigroup International Inc. in February 2025. The company was founded in 1846 and is based in Dallas, Texas.
Why Investors Should Care
Generates a return on equity of 17.5%, reflecting efficient use of shareholder capital.
Net profit has compounded at 12.4% per year over the last five years.
Revenue has grown at a 13.9% CAGR over the past five years.
Generates positive free cash flow, funding growth and shareholder returns internally.
Recent Developments
- Dec 2025 Revenue of $7.48B (+51.6% YoY); net profit $384.10M.
- Trailing 12 Months Year-on-year growth — revenue -3.0%, earnings +10.6%.
- 5-Year Trend Long-term compounding — revenue CAGR 13.9%, profit CAGR 12.4%.
Growth & Price Performance
Compounded Sales Growth
| 5 Years: | 13.93% |
| 1 Year: | -3.00% |
Compounded Profit Growth
| 5 Years: | 12.44% |
| 1 Year: | 10.60% |
Stock Price Performance
| 1 Year: | -13.39% |
| 6 Months: | -13.37% |
| 3 Months: | +2.85% |
| 1 Month: | +6.88% |
Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.
- Price vs 50-DMAAbove
- Price vs 200-DMABelow
- RSI (14)58.65 · Neutral
P/E of 27.49 is above the sector median of 18.98 — pricier than peers.
Auto-generated from price history and fundamentals; not investment advice.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth Charts
No fundamental data available for this stock.
Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.
PROS
- Compounding revenue at 13.9% over 5 years.
- Profit CAGR of 12.4% over 5 years.
- Generates positive free cash flow.
CONS
- Trading 28.5% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Valuation
Growth (CAGR)
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Peer comparison
Peer companies in the same sector (Consumer Cyclical).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SGI Somnigroup International Inc. R3K | 69.56 | 27.49 | $14.63B | 1.05% | 7.47% | 17.52% | 13.93% | 12.44% |
| 2 | AMZN Amazon.com, Inc. NDXSPXR3KAITECH | 256.97 | 20.66 | $2.77T | 0.00% | 13.33% | 30.56% | 24.04% | 32.72% |
| 3 | TSLA Tesla, Inc. NDXSPXR3KAI | 368.16 | 347.32 | $1.45T | 0.00% | 4.10% | 4.67% | 52.40% | 39.39% |
| 4 | HD The Home Depot, Inc. SPXR3K | 313.70 | 21.97 | $312.98B | 3.08% | 28.75% | 104.30% | 4.06% | 6.35% |
| 5 | BABA Alibaba Group Holding Limited AITECH | 112.66 | 25.43 | $280.03B | 0.93% | 4.16% | 6.36% | 5.62% | 12.49% |
| 6 | TM Toyota Motor Corporation | 191.45 | 8.46 | $226.71B | 3.23% | 5.24% | 12.40% | 10.91% | 16.22% |
| 7 | MCD McDonald's Corporation SPXR3K | 255.81 | 20.80 | $181.02B | 2.99% | 22.47% | - | 0.92% | 7.33% |
| 8 | TJX The TJX Companies, Inc. SPXR3K | 128.92 | 23.87 | $142.42B | 1.52% | 21.26% | 62.17% | 6.84% | 8.48% |
| 9 | BKNG Booking Holdings Inc. NDXSPXR3K | 180.30 | 20.03 | $139.71B | 0.87% | 70.23% | -96.88% | 16.93% | 22.07% |
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios
Quarterly Results
Figures in USD.
| Metric | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | 710.40M | 647.30M | 711.50M | 631.40M | 637.40M | 659.90M | 729.50M | 676.10M | 690.90M | 722.80M | 821.00M | 871.30M | 822.40M | 665.20M | 1.13B | 1.04B | 1.17B | 1.36B | 1.24B | 1.21B | 1.28B | 1.21B | 1.27B | 1.28B | 1.19B | 1.23B | 1.30B | 1.60B | 1.88B | 2.12B | 1.87B | 1.80B | 1.82B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.02B | 1.05B | 1.17B | 1.05B | 1.02B | - |
| Gross Profit | 297.50M | 359.60M | 1.25B | 291.00M | 336.90M | 362.10M | 317.50M | 282.00M | 264.10M | 307.00M | 267.90M | 264.70M | 272.80M | 300.00M | 283.20M | 281.80M | 313.40M | 360.60M | 386.40M | 357.10M | 265.90M | 530.20M | 458.90M | 518.20M | 577.10M | 522.80M | 496.50M | 541.10M | 499.90M | 542.30M | 573.70M | 474.30M | 517.60M | 551.50M | 580.50M | 827.20M | 952.80M | 822.70M | 776.90M | 817.20M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 572.10M | 636.40M | 641.20M | 584.30M | 595.40M | - |
| Operating Income | 52.00M | 110.90M | 306.50M | 76.70M | 100.20M | 131.10M | 102.40M | 59.30M | 56.50M | 97.30M | 82.40M | 55.70M | 58.00M | 84.70M | 57.90M | 60.50M | 81.00M | 120.60M | 84.60M | 105.30M | 53.40M | 180.20M | 188.40M | 223.30M | 249.80M | 188.60M | 143.90M | 201.00M | 143.30M | 158.80M | 183.20M | 131.50M | 173.30M | 201.80M | 8.40M | 190.80M | 311.60M | 238.40M | 181.50M | 201.70M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 69.70M | 233.70M | 367.60M | 327.40M | 258.20M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 61.30M | 72.50M | 69.90M | 64.20M | 60.00M | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -49.30M | 102.70M | 233.90M | 193.70M | 137.30M | - |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -16.50M | 3.20M | 56.20M | 52.80M | 33.40M | - |
| Net Income | 21.20M | 40.20M | 64.50M | 39.60M | 21.30M | 77.80M | 51.90M | 33.90M | 24.50M | 44.60M | 48.40M | 23.10M | 22.80M | 42.30M | 12.30M | 28.40M | 41.60M | 73.30M | 46.20M | 59.70M | 23.00M | 121.40M | 130.50M | 140.80M | 177.40M | 130.70M | 90.60M | 132.70M | 85.30M | 92.40M | 113.30M | 76.30M | 106.10M | 130.00M | -33.10M | 99.00M | 177.40M | 140.80M | 104.20M | 110.90M |
| Diluted EPS | 0.34 | 0.64 | 1.03 | 0.63 | 0.35 | 1.32 | 0.92 | 0.62 | 0.45 | 0.81 | 0.88 | 0.42 | 0.42 | 0.77 | - | 0.51 | 0.74 | 1.31 | - | 0.28 | 0.11 | 0.57 | 0.62 | 0.69 | 0.87 | 0.69 | 0.51 | 0.75 | 0.48 | 0.52 | 0.64 | 0.43 | 0.60 | 0.73 | -0.17 | 0.47 | 0.83 | 0.66 | 0.49 | 0.52 |
| R&D Expense | - | - | 28.70M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 927.82M | 831.16M | 1.11B | 1.42B | 1.40B | 2.46B | 2.99B | 3.15B | 3.08B | 2.70B | 2.70B | 3.11B | 3.68B | - | 4.92B | 4.93B | 4.93B | 7.48B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.87B | 2.94B | 2.90B | 4.29B |
| Gross Profit | 400.96M | 393.74M | 555.40M | 743.10M | 714.60M | 1.01B | 1.15B | 1.25B | 1.29B | 1.12B | 1.12B | 1.34B | 1.64B | - | 2.05B | 1.99B | 2.03B | 3.18B |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.39B | 1.40B | 1.41B | 2.43B |
| Operating Income | 133.86M | 144.94M | 245.90M | 340.50M | 248.30M | 243.80M | 276.30M | 306.50M | 413.40M | 295.50M | 256.30M | 346.70M | 532.10M | - | 659.50M | 584.20M | 615.30M | 749.20M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 807.30M | 739.30M | 804.20M | 998.40M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 103.00M | 129.90M | 134.80M | 267.90M |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 577.20M | 474.10M | 504.30M | 481.00M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 119.00M | 103.40M | 118.60M | 95.70M |
| Net Income | 58.87M | 84.99M | 157.20M | 219.60M | 106.80M | 78.60M | 108.90M | 64.50M | 190.60M | 151.40M | 100.50M | 189.50M | 348.80M | - | 455.70M | 368.10M | 384.30M | 384.10M |
| Diluted EPS | 0.79 | 1.12 | 2.16 | 3.18 | 1.70 | 1.28 | 1.75 | 1.03 | 3.19 | 2.77 | 0.46 | 0.86 | 1.64 | - | 2.53 | 2.08 | 2.16 | 1.84 |
| R&D Expense | - | 6.46M | 7.40M | 9.90M | 15.60M | 21.00M | 21.60M | 28.70M | 26.70M | 21.70M | 21.90M | 23.00M | 23.10M | 27.30M | 29.20M | 30.60M | 30.80M | 32.90M |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 643.38M | 716.00M | 838.20M | 1.32B | 2.73B | 2.58B | 2.66B | 2.70B | 2.69B | 2.72B | 3.06B | 3.31B | - | 4.36B | 4.55B | 5.98B | 11.60B |
| Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.20B | 1.10B | 1.07B | 1.29B |
| Cash & Equivalents | 33.31M | 15.38M | 14.00M | 53.60M | 111.40M | 179.30M | 81.00M | 62.50M | 153.90M | 64.60M | 41.10M | 45.80M | 64.90M | 65.00M | - | 69.40M | 74.90M | 117.40M | 134.90M |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 555.00M | 483.10M | 447.00M | 630.00M |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 422.60M | 431.40M | 404.50M | 358.50M |
| Total Liabilities | - | - | 471.09M | 589.97M | 807.40M | 1.30B | 2.60B | 2.37B | 2.35B | 2.73B | 2.58B | 2.50B | 2.70B | 2.80B | - | 4.37B | 4.22B | 5.41B | 8.48B |
| Current Liabilities | - | - | 136.53M | 146.23M | 167.60M | 215.70M | 441.50M | 538.10M | 713.00M | 561.10M | 576.90M | 669.00M | 773.30M | 974.80M | - | 981.20M | 908.20M | 960.30M | 1.57B |
| Long Term Debt | - | - | 297.47M | 407.00M | 585.00M | 1.02B | - | 1.50B | 1.27B | 1.82B | 1.68B | 1.60B | 1.50B | 1.30B | - | 2.74B | 2.53B | 3.74B | 4.57B |
| Total Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3.37B | 3.27B | 4.47B | 6.68B |
| Total Equity | 48.14M | 72.44M | 172.20M | 126.00M | 30.80M | 22.30M | 118.60M | 202.70M | 290.20M | -44.90M | 112.50M | 214.60M | 359.50M | 503.60M | - | -22.10M | 323.40M | 559.00M | 3.11B |
| Shares Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 283.80M | 283.77M | 283.85M | 283.81M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 198.39M | 134.99M | 184.10M | 248.70M | 189.90M | 98.50M | 225.20M | 234.20M | 165.50M | 222.90M | - | - | 654.70M | - | 378.80M | 570.30M | 666.50M | 800.10M |
| Investing Cash Flow | -5.37M | -14.30M | -37.50M | -36.10M | -55.00M | -1.21B | -10.40M | -59.70M | -62.40M | -62.10M | - | - | -146.60M | - | -315.30M | -187.80M | -96.70M | -3.02B |
| Financing Cash Flow | -200.15M | -118.72M | -106.40M | -148.90M | -70.80M | 1.01B | -238.10M | -90.70M | -185.10M | -175.20M | -107.00M | -203.20M | -522.60M | - | -279.10M | -384.30M | 1.08B | 616.90M |
| Capital Expenditure | 10.49M | -14.30M | -18.10M | -29.50M | -50.50M | -40.00M | -47.50M | -65.90M | -61.90M | -66.60M | -73.60M | -88.20M | -111.30M | - | -306.50M | -185.40M | -97.30M | -166.90M |
| Free Cash Flow | 208.89M | 120.68M | 166.00M | 219.20M | 139.40M | 58.50M | 177.70M | 168.30M | 103.60M | 156.30M | - | - | 543.40M | - | 72.30M | 384.90M | 569.20M | 633.20M |
| Net Change in Cash | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -215.90M | -1.80M | 1.65B | -1.61B |
| Dividends Paid | 17.93M | 0 | 0 | - | - | - | - | - | - | - | - | 0 | 0 | 63.10M | 70.50M | 77.70M | 92.70M | 127.40M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 43.2% | 47.4% | 50.2% | 52.4% | 50.9% | 41.2% | 38.5% | 39.6% | 41.9% | 41.5% | 41.5% | 43.2% | 44.6% | - | 41.6% | 40.3% | 41.1% | 42.6% |
| Operating Margin % | 14.4% | 17.4% | 22.2% | 24.0% | 17.7% | 9.9% | 9.2% | 9.7% | 13.4% | 10.9% | 9.5% | 11.2% | 14.5% | - | 13.4% | 11.9% | 12.5% | 10.0% |
| Net Margin % | 6.3% | 10.2% | 14.2% | 15.5% | 7.6% | 3.2% | 3.6% | 2.0% | 6.2% | 5.6% | 3.7% | 6.1% | 9.5% | - | 9.3% | 7.5% | 7.8% | 5.1% |
| ROE % | 81.3% | 49.4% | 124.8% | 713.0% | 478.9% | 66.3% | 53.7% | 22.2% | -424.5% | 134.6% | 46.8% | 52.7% | 69.3% | - | -2,062.0% | 113.8% | 68.7% | 12.4% |
| ROCE % | - | 28.6% | 43.2% | 50.8% | 22.5% | 10.7% | 13.5% | 15.8% | 19.3% | 14.0% | 12.5% | 15.1% | 22.8% | - | 19.5% | 16.0% | 12.3% | 7.5% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | FMR, LLC | 12.51% | 26.33M | $1.67B |
| 2 | Blackrock Inc. | 9.14% | 19.23M | $1.22B |
| 3 | Vanguard Capital Management LLC | 4.35% | 9.16M | $580.15M |
| 4 | Select Equity Group LP | 4.23% | 8.89M | $563.44M |
| 5 | Windacre Partnership LLC | 4.00% | 8.42M | $533.51M |
| 6 | Vanguard Portfolio Management LLC | 3.91% | 8.22M | $520.89M |
| 7 | State Street Corporation | 3.46% | 7.28M | $461.28M |
| 8 | Linonia Partnership LP | 3.15% | 6.62M | $419.74M |
| 9 | Browning West Lp | 3.03% | 6.37M | $403.60M |
| 10 | Abrams Capital Management, L.P. | 2.76% | 5.80M | $367.41M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for SGI
Somnigroup International (SGI) Stock Trades At A Discount On Cash Flow But A Premium On Earnings
Somnigroup International stock has delivered a strong 61.6% gain over the past three years, yet current checks send a mixed message, with a Discounted Cash Flow (DCF) intrinsic value estimate pointing to upside while market based multiples …
Is Somnigroup International (SGI) Cheap On Its Leggett And Platt Deal?
Somnigroup International’s latest catalyst Somnigroup International (SGI) has just completed its all stock acquisition of Leggett & Platt, creating a business with more than US$11b in trailing sales and about 36,000 employees worldwide. The…
Somnigroup International Poised to See Growth From Leggett Acquisition, BofA Says
Somnigroup International (SGI) is expected to benefit from further growth and earnings accretion fro
Somnigroup Lifts Synergy Target to $75M After Closing Leggett & Platt Deal
Somnigroup International (NYSE:SGI) said it has completed its acquisition of Leggett & Platt, expanding its vertical integration in bedding components while adding businesses serving automotive, furniture, geocomponents and hydraulic-cylind…
Why Somnigroup (SGI) Stock Is Up Today
Shares of bedding manufacturer Somnigroup (NYSE:SGI) jumped 4.2% in the afternoon session after a regulatory filing revealed that CEO and President Scott L. Thompson purchased 30,000 shares of common stock. According to a Form 4 filed with …
Somnigroup CEO Scott Thompson Buys 30,000 Shares for $1.9 Million. Is This a Signal to Buy SGI?
Thompson's open-market purchase brings his direct stake to 4.1 million shares, representing 2.0% of outstanding equity amid a challenging one-year performance.
SGI — Frequently Asked Questions
What is the current share price of Somnigroup International Inc. (SGI)?
As of 2026-09-19 21:16 PDT, Somnigroup International Inc. (SGI) trades at $69.56 on NYSE. Its 52-week range is $61.17 to $97.29.
What is the market capitalisation of SGI?
Somnigroup International Inc. (SGI) has a market capitalisation of $14.63B on NYSE.
What is the P/E ratio of SGI?
SGI trades at a trailing price-to-earnings (P/E) ratio of 27.49. The industry average P/E is 18.98. Its price-to-book (P/B) ratio is 4.13.
Does SGI pay a dividend?
Somnigroup International Inc. (SGI) currently offers a dividend yield of 1.05%.
What is the return on equity (ROE) of SGI?
SGI has a return on equity (ROE) of 17.52%. Its return on capital employed (ROCE) is 7.47%.
Is SGI a good stock to buy?
This page provides a data-driven analysis of Somnigroup International Inc. (SGI), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.