{"schemaVersion":1,"research":true,"symbol":"ph","name":"Parker-Hannifin","topic":"moat","path":"/stock/ph/moat","status":"published","version":3,"updatedAt":"2026-10-18T12:47:42.226Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"uncertain","summary":"Parker demonstrates engineering capabilities, growing aftermarket demand and realized pricing power. Owned intellectual property and broad systems capabilities are plausible sources of differentiation, but the passages do not establish durable exclusion, customer switching barriers or a relative cost advantage. The evidence supports uncertainty about moat durability, rather than demonstrated competitive weakness. Pricing power is favorable but constrained by fixed-price contracts, competition and cost-recovery delays.","advantages":[{"mechanism":"intangible_assets","claim":"Current engineering capabilities, owned intellectual property and aftermarket support support differentiation. Their ability to sustain a defensible economic moat remains unestablished; claims of market leadership and superior systems breadth are management assertions.","durability":"Continuing aftermarket demand and investment in development support ongoing relevance. The passages do not establish technology exclusivity, protection duration, customer qualification barriers or sustained superiority over named competitors.","risks":"Rapid technological change, intellectual-property infringement and product-level competition could erode differentiation. Favorable pricing does not establish that customers cannot substitute competing products.","invalidation":"The differentiation thesis would weaken materially if aftermarket orders and organic demand persistently declined alongside documented customer substitution, lost programs or price concessions. Evidence that competitors readily reproduce Parker's systems capabilities would undermine the proposed intangible advantage.","competitors":["Bosch Rexroth AG","Copeland","Danaher Corporation","Danfoss A/S","Donaldson Company, Inc.","Emerson/ASCO","Festo SE & Co.","Freudenberg-NOK","Gates Corporation","IMI/Norgren","SMC Corporation","Swagelok Company","Trelleborg AB"],"evidenceIds":["e1","e2","e3","e4","e5","e6","e7"],"counterEvidenceIds":["e8","e9","e10","e11"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Item 1, Business: engineered solutions and aftermarket support","excerpt":"Leveraging a unique combination of interconnected technologies, we design, manufacture, and provide aftermarket support for highly engineered solutions that create value for customers primarily in aerospace & defense, in-plant & industrial equipment, transportation, off-highway, energy, and HVAC & refrigeration markets around the world."},{"id":"e2","sourceId":"filing-1","location":"Item 1A, intellectual-property risk: owned intellectual property","excerpt":"We own a number of patents, trade secrets, copyrights, trademarks, trade names and other forms of intellectual property related to our products and services throughout the world and in the operation of our business."},{"id":"e3","sourceId":"filing-1","location":"Item 1, Competition: management assertion about systems capabilities","excerpt":"We have comprehensive motion and control technologies allowing us to provide the broadest systems capabilities."},{"id":"e4","sourceId":"filing-1","location":"Item 1, Competition: management assertion about market leadership","excerpt":"We believe that we are one of the market leaders in most of the major markets for our most significant Diversified Industrial Segment products."},{"id":"e5","sourceId":"filing-1","location":"MD&A, Aerospace Systems: fiscal 2026 organic growth and aftermarket volume","excerpt":"24 Table of Contents Aerospace Systems For the years ended June 30, 2026 2025 Net sales $ 7,061 $ 6,185 Segment operating income $ 1,833 $ 1,441 Segment operating margin 26.0 % 23.3 % Net Sales The Aerospace Systems Segment operations experienced the following percentage changes in net sales: 2026 Reported sales growth 14.2 % Less: currency 0.8 % Organic sales growth 13.4 % Aerospace Systems Segment sales increased compared to prior-year due to higher volume across all market segments, especially in the commercial OEM and aftermarket market segments."},{"id":"e6","sourceId":"filing-1","location":"MD&A, Aerospace Systems: orders exceeding shipments","excerpt":"Aerospace Systems Segment backlog increased in 2026 primarily due to orders exceeding shipments in all market segments, especially in the commercial OEM and aftermarket market segments."},{"id":"e7","sourceId":"filing-1","location":"Note 15, Research and Development: actual development spending","excerpt":"Research and Development Independent research and development costs amounted to $267 million in 2026, $240 million in 2025 and $253 million in 2024."},{"id":"e8","sourceId":"filing-1","location":"Item 1, Competition: named Diversified Industrial competitors","excerpt":"While our primary global competitors include Bosch Rexroth AG, Copeland, Danaher Corporation, Danfoss A/S, Donaldson Company, Inc., Emerson/ASCO, Festo SE & Co., Freudenberg-NOK, Gates Corporation, IMI/Norgren, SMC Corporation, Swagelok Company, and Trelleborg AB, none of these businesses compete with every group or product in our Diversified Industrial Segment."},{"id":"e9","sourceId":"filing-1","location":"Item 1A, innovation risk: changing technologies and product introductions","excerpt":"The markets we serve are characterized by rapidly changing technologies and frequent introductions of new products and services."},{"id":"e10","sourceId":"filing-1","location":"Item 1A, intellectual-property risk: challenges, infringement and licensing","excerpt":"Our intellectual property may be challenged, stolen or otherwise infringed upon by third parties or we may be unable to maintain, renew or enter into new license agreements with third-party owners of intellectual property on reasonable terms."},{"id":"e11","sourceId":"filing-1","location":"Item 1, intellectual property: absence of material dependence on individual rights or groups","excerpt":"We do not depend on any single patent, trademark, copyright, trade secret or license or group of patents, trademarks, copyrights, trade secrets or licenses to any material extent."},{"id":"e12","sourceId":"filing-6","location":"MD&A, Diversified Industrial: realized price increases in the first half of fiscal 2026","excerpt":"Diversified Industrial Segment operating margin increased during the current-year quarter and first six months of fiscal 2026 in both the North America and International businesses primarily due to favorable product mix, price increases, and benefits from prior-year business realignment activities, partially offset by an increase in material costs."},{"id":"e13","sourceId":"filing-1","location":"MD&A, North America: fiscal 2026 favorable pricing and margin drivers","excerpt":"Within the North America businesses, segment operating margin increased by 110 basis points in 2026 compared to 2025, primarily driven by favorable pricing and benefits from prior year divestitures, partially offset by unfavorable product mix, increased material costs and higher intangible amortization."},{"id":"e14","sourceId":"filing-1","location":"MD&A, International: fiscal 2026 favorable pricing and margin drivers","excerpt":"Within the International businesses, segment operating margin increased by 90 basis points in 2026 compared to 2025, primarily driven by favorable mix and pricing, partially offset by higher business realignment charges."},{"id":"e15","sourceId":"filing-2","location":"MD&A, Diversified Industrial: quarterly margin decline despite favorable pricing","excerpt":"During the current-year quarter, operating margin decreased in both the North America and International businesses primarily due to unfavorable product mix, higher business realignment charges, higher amortization expense of acquired intangibles, as well as increased material costs offset by favorable pricing."},{"id":"e16","sourceId":"filing-1","location":"Item 1A, input-cost risk: pricing pressure, fixed-price contracts and recovery delays","excerpt":"Our efforts to manage these fluctuations by, among other things, passing along price increases to our customers, may be subject to a time delay between raw material prices increasing and our ability to increase the price of our products, or we may be unable to increase the prices of our products due to pricing pressure, contract terms (including fixed-price contracts) or other factors."},{"id":"e17","sourceId":"filing-1","location":"Item 1A, government contracts: termination, reduction and modification rights","excerpt":"Agreements relating to the sale of products to government entities may be subject to termination, reduction or modification, either at the convenience of the government or for our failure to perform, or other unsatisfactory performance under the applicable contract."},{"id":"e18","sourceId":"filing-1","location":"Item 1, Backlog: definition of written firm orders","excerpt":"Backlog consists of written firm orders from a customer to deliver products and, in the case of blanket purchase orders, only includes the portion of the order for which a schedule or release date has been agreed to with the customer."},{"id":"e19","sourceId":"filing-1","location":"Item 1, Backlog: June 2026 and June 2025 order balances","excerpt":"Our backlog was $12.8 billion at June 30, 2026 and $11.0 billion at June 30, 2025."},{"id":"e20","sourceId":"filing-3","location":"Business and Performance Highlights: reported fiscal 2026 cash flow, earnings and dividends","excerpt":"Business and Performance Highlights Parker Delivered Another Record Year in Fiscal 2026 Segment Operating Margin Cash Flow from Operations Earnings per Share Continued Dividend Increase 24.5% A RECORD 24.5% COMPARED TO 23.0% FOR FISCAL YEAR 2025 $4.4B A RECORD $4.4 BILLION COMPARED TO $3.8 BILLION FOR FISCAL YEAR 2025 $28.48 A RECORD $28.48 COMPARED TO $27.12 FOR FISCAL YEAR 2025 70th YEAR INCREASED ANNUAL DIVIDENDS PER SHARE PAID FOR THE 70TH YEAR IN A ROW The Company delivered record performance across multiple financial metrics again in fiscal year 2026, reflecting the strength of our business system, The Win Strategy™, our disciplined execution, and the resilience of our portfolio."},{"id":"e21","sourceId":"filing-1","location":"MD&A, financing activities: actual commercial paper repayments","excerpt":"•Net commercial paper repayments of $736 million in 2026 compared to $374 million in 2025."},{"id":"e22","sourceId":"filing-2","location":"Consolidated Statements of Cash Flows: nine-month cash generation, spending and financing","excerpt":"- 4 - PARKER-HANNIFIN CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) Nine Months Ended March 31, 2026 2025 Cash flows from operating activities Net income $ 2,557 $ 2,609 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation 264 263 Amortization 436 414 Stock-based compensation expense 145 130 Deferred income taxes (7) (254) Gain on sale of businesses (1) (253) Other, net (37) 17 Changes in assets and liabilities, net of effect of acquisitions and divestitures: Accounts receivable, net (169) 15 Inventories (279) (130) Prepaid expenses (24) (2) Other current assets (44) (23) Other long-term assets (46) (7) Accounts payable, trade 147 13 Accrued payrolls and other compensation (37) (98) Other current liabilities (237) (310) Pensions and other postretirement benefits (27) (34) Other long-term liabilities (13) (41) Net cash provided by operating activities 2,628 2,309 Cash flows from investing activities Acquisitions, net of cash acquired (1,014) — Capital expenditures (286) (304) Proceeds from sale of property, plant and equipment 37 32 Proceeds from sale of businesses 1 623 Other, net 23 (6) Net cash (used in) provided by investing activities (1,239) 345 Cash flows from financing activities Payments for common shares (1,007) (860) Proceeds from (payments for) notes payable, net 323 (203) Proceeds from long-term borrowings 12 739 Payments for long-term borrowings (14) (1,730) Dividends paid (683) (630) Other, net (1) 3 Net cash used in financing activities (1,370) (2,681) Effect of exchange rate changes on cash (10) 14 Net increase (decrease) in cash and cash equivalents 9 (13) Cash and cash equivalents at beginning of year 467 422 Cash and cash equivalents at end of period $ 476 $ 409 See accompanying notes to consolidated financial statements."},{"id":"e23","sourceId":"filing-1","location":"Note 3, Acquisitions and Divestitures: agreed FGC purchase price","excerpt":"On November 11, 2025, the Company announced that it entered into a definitive agreement to acquire FGC from Madison Industries for the cash purchase price of $9.25 billion."},{"id":"e24","sourceId":"filing-3","location":"Business and Performance Highlights: completed Filtration Group acquisition and pending CIRCOR transaction","excerpt":"and Filtration Group Corporation and continued progress toward the pending acquisition of CIRCOR’s Commercial and Defense Aerospace business, each of which is expected to strengthen our technology portfolio, expand our capabilities in attractive, highly-engineered markets and support our long-term growth."},{"id":"e25","sourceId":"filing-1","location":"MD&A, working capital: increased inventory days","excerpt":"•Days supply of inventory on hand was 86 days in 2026 and 82 days in 2025."},{"id":"e26","sourceId":"filing-1","location":"Stock compensation note: adopted three-year LTIP performance measures","excerpt":"The Company's Long Term Incentive Plans (\"LTIP\") provide for the issuance of unrestricted stock to certain officers and key employees based on the attainment of certain goals relating to our revenue growth, earnings per share growth and return on invested capital during a three-year performance period."},{"id":"e27","sourceId":"filing-3","location":"Executive Compensation: achieved relative performance and actual LTIP payout","excerpt":"Our results for revenue growth were at top quartile, and our results for earnings per share growth and growth in average return on invested capital were between the median and top quartile performance levels, resulting in a payout at 167.36% of target."},{"id":"e28","sourceId":"filing-3","location":"Corporate Governance Highlights: ownership compliance, evaluations and meeting attendance","excerpt":"•Robust stock ownership guidelines for our Directors and executive officers (all of whom are compliant with such guidelines) •Annual Board, Committee and individual Director evaluations •Annual review of our Chief Executive Officer by all independent Directors •Thoughtful management of our Directors' outside commitments – two Director Nominees do not sit on any other public company boards, six Director Nominees sit on one other public company board, and one Director Nominee sits on two other public company boards •Average Director attendance at all of our Board of Directors and Committee meetings was over 96% and each of our Directors attended at least 75% of his or her meetings of our Board of Directors and his or her Committee meetings during fiscal year 2026."},{"id":"e29","sourceId":"filing-3","location":"Corporate Governance Highlights: shareholder rights and committee independence","excerpt":"Shareholder Rights •Annual election of all Directors •Majority voting and resignation policy for uncontested Director elections •Proxy access permitted for eligible shareholders Board Independence •Board Committees are 100% comprised of independent Directors."},{"id":"e30","sourceId":"filing-1","location":"Independent auditor report: effective internal control over financial reporting","excerpt":"Also, in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of June 30, 2026, based on criteria established in Internal Control — Integrated Framework (2013) issued by COSO."},{"id":"e31","sourceId":"filing-1","location":"Executive officers: combined chairman and CEO roles","excerpt":"Ms. Parmentier has been Chairman of the Board since January 2024 and Chief Executive Officer since January 2023."},{"id":"e32","sourceId":"filing-3","location":"Executive Compensation: prohibition on repricing stock incentives","excerpt":"The plan does not permit the re-pricing of Stock Incentives."},{"id":"e33","sourceId":"filing-3","location":"Termination and Change in Control: qualifying termination requirement and elimination of tax gross-ups","excerpt":"The new Change in Control Agreements require a qualifying termination of employment in connection with a change in control and eliminated “gross-up” payments intended to offset the effect, if any, of the excise tax imposed by Section 4999 of the Internal Revenue Code on such lump sum payment."},{"id":"e34","sourceId":"filing-1","location":"MD&A, Diversified Industrial: organic demand growth with transportation weakness","excerpt":"Organic sales growth relating to our North American businesses in 2026 increased by 3.1%, or $252 million, from 2025, driven by demand within the in-plant and industrial equipment, aerospace and defense, and off-highway markets, partially offset by lower demand within the transportation market."}],"changes":["Retain the previous uncertain moat verdict: current differentiation and favorable pricing still do not establish durable barriers.","Clarify that Parker does own intellectual property; the missing evidence concerns its competitive protection and economic durability, rather than its existence.","Add assessments of actual incentive arrangements, governance practices and capital deployment from the supplied proxy and operating disclosures.","Respect disclosure chronology: the September 18, 2026 proxy reports Filtration Group as completed; earlier acquisition and financing disclosures do not demonstrate subsequent integration returns."],"limitations":["All sources are issuer filings, although the supplied auditor opinion independently addresses financial reporting controls. Market leadership and superior breadth remain management assertions.","Named competitors are explicitly identified for Diversified Industrial. Aerospace competitor coverage and product-level comparisons are unestablished.","No disclosed customer substitution costs, qualification periods, exclusive program rights, patent protection economics or relative unit costs establish a durable moat.","Pricing outcomes are described qualitatively without a price-volume bridge or customer-level retention data. Aftermarket volume and firm orders provide indirect evidence of continuing demand.","Ownership-guideline compliance is disclosed, but the passages do not provide individual executive ownership stakes or ownership multiples.","Acquisition completion does not establish realized returns. Post-Filtration Group financing, integration outcomes and CIRCOR completion are not established by these passages.","Source dates are filing dates with dateKind filed; they are not retrieval dates. Risk-factor possibilities are not treated as realized competitive losses."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":null,"rationale":"Engineering capabilities and owned intellectual property establish differentiation, but their ability to exclude competitors or sustain superior economics is unestablished.","evidenceIds":["e1","e2","e3","e8"]},{"criterion":"durability","grade":null,"rationale":"Aftermarket demand and development spending support relevance without establishing the duration of competitive protection.","evidenceIds":["e5","e6","e7","e9"]},{"criterion":"customer_dependency","grade":null,"rationale":"Aftermarket orders indicate continuing demand, but the passages do not establish customer dependence, replacement barriers or switching costs.","evidenceIds":["e5","e6","e18"]},{"criterion":"erosion_resilience","grade":null,"rationale":"Operating performance is favorable, but relative competitive resilience through technological change and customer substitution cannot be established.","evidenceIds":["e9","e10","e13","e14"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":3,"rationale":"Reported price increases benefited first-half results, and favorable pricing contributed to full-year improvement in both industrial regions. These are realized outcomes, though their magnitude is not separately quantified.","evidenceIds":["e12","e13","e14"]},{"criterion":"retention","grade":2,"rationale":"Higher aftermarket volume, orders exceeding shipments and growing firm backlog provide indirect evidence of continuing demand. They do not isolate repeat customers or demonstrate retention following price increases.","evidenceIds":["e5","e6","e18","e19"]},{"criterion":"margin_resilience","grade":3,"rationale":"Full-year industrial margins improved despite material-cost and realignment pressures, with pricing contributing. The March quarter's decline demonstrates limits; mix, divestitures and other operating measures also explain resilience.","evidenceIds":["e13","e14","e15"]},{"criterion":"contractual_freedom","grade":2,"rationale":"Realized price increases demonstrate some ability to reset prices, but fixed-price contracts constrain recovery and government customers possess termination or modification rights. The share of sales subject to these terms is unavailable.","evidenceIds":["e12","e16","e17"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Actual cash generation, capital spending and debt repayments support discipline. Substantial acquisition spending and commitments, simultaneous shareholder distributions and increased inventory days make the assessment mixed; acquisition returns and repurchase value creation are unproven.","evidenceIds":["e20","e21","e22","e23","e24","e25"]},{"criterion":"incentive_alignment","grade":3,"rationale":"Existing three-year awards link compensation to revenue, EPS and invested-capital performance, with disclosed achieved results and payouts. Ownership-guideline compliance and a repricing prohibition strengthen alignment; individual ownership amounts and full target rigor remain unavailable.","evidenceIds":["e26","e27","e28","e32"]},{"criterion":"execution","grade":3,"rationale":"Organic aerospace and industrial demand growth, favorable realized pricing and higher cash generation demonstrate execution through operating outcomes. Attribution to management is indirect, and acquisition completion does not prove successful integration.","evidenceIds":["e5","e13","e14","e20","e34"]},{"criterion":"governance","grade":3,"rationale":"Annual elections, majority voting, independent committees, disclosed evaluations and attendance, and an effective-controls audit support strong governance. Combined chairman and CEO roles temper the assessment; change-in-control protections require qualifying termination and exclude tax gross-ups.","evidenceIds":["e28","e29","e30","e31","e33"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-4","basisHash":"cc3de45a95aa80187b3b33bbb28a8b14fa9e6aff7f8867ae4136a869e943d2a7","updatedAt":"2026-10-18T12:47:42.226Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","publishedAt":"2026-08-21","sha256":"54c253179741d72aa410a65a97405712002ca6ade8a9379c518d130f0bace0f6","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000073/ph-20260331.htm","publishedAt":"2026-05-01","sha256":"ed0eb1ab29fa371360219fb3725a323e88418a8bbc2756ec04217952b28665da","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/76334/000130817926000394/ph-20260915.htm","publishedAt":"2026-09-18","sha256":"aa160adcdb9904ed208c070eeda89743ef38031cd8351b5dc4fc9c8f3110c910","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633425000035/ph-20250630.htm","publishedAt":"2025-08-22","sha256":"f01cd36508be3624e0b5d35492ead3add06aaef0a72c51a1ae292b1b1deb6606","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633424000044/ph-20240630.htm","publishedAt":"2024-08-22","sha256":"0c7664a238bedbd93517b7bcc6dd1e2bff41dbf83a6c735d877e0a5dd008fe1d","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000008/ph-20251231.htm","publishedAt":"2026-01-30","sha256":"56aec1e193ba7c80673430bba111a2ec0d6a5be7c6b5cd893de11688fd7a2c7a","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:ef350f1428d7b7691ae71eafd4411cf4aeea45fed87aacb78957f62f0b7005bb","usage":{"input_tokens":86986,"cached_input_tokens":21120,"cache_write_input_tokens":0,"output_tokens":3658,"reasoning_output_tokens":99}},"signals":[{"period":"2022","end":"2022-06-30","values":{"gross_margin":28.208621723598267,"operating_margin":18.75620050627906,"roic":14.860145600506788,"fcf_margin":13.943643040478621,"sbc_revenue":0.8643070740368819},"issues":{"peg":"TTM earnings per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","pfcf_growth":"TTM FCF per diluted share growth is zero or negative; a growth-adjusted multiple requires positive growth.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2023","end":"2023-06-30","values":{"gross_margin":33.72272005204878,"operating_margin":17.85545429015829,"roic":13.568139436223403,"fcf_margin":13.633131663910685,"sbc_revenue":0.7485892878929005},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2024","end":"2024-06-30","values":{"gross_margin":35.764831477350825,"operating_margin":20.415948012218607,"roic":15.822532466806718,"fcf_margin":14.973788242477045,"sbc_revenue":0.7786154929505381},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roiic":"Invested capital did not increase versus the prior year. ROIIC requires a positive increase.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2025","end":"2025-06-30","values":{"gross_margin":36.85138539042821,"operating_margin":21.8992443324937,"roic":18.327335168471404,"fcf_margin":16.83123425692695,"sbc_revenue":0.801007556675063},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}},{"period":"2026","end":"2026-06-30","values":{"gross_margin":37.68547374296479,"operating_margin":23.573189450672125,"roic":18.80277927150167,"fcf_margin":18.163635517931066,"sbc_revenue":0.8325968649704637},"issues":{"software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%."}}],"sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000105/ph-20260630.htm","publishedAt":"2026-08-21","sha256":"54c253179741d72aa410a65a97405712002ca6ade8a9379c518d130f0bace0f6","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000073/ph-20260331.htm","publishedAt":"2026-05-01","sha256":"ed0eb1ab29fa371360219fb3725a323e88418a8bbc2756ec04217952b28665da","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/76334/000130817926000394/ph-20260915.htm","publishedAt":"2026-09-18","sha256":"aa160adcdb9904ed208c070eeda89743ef38031cd8351b5dc4fc9c8f3110c910","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633425000035/ph-20250630.htm","publishedAt":"2025-08-22","sha256":"f01cd36508be3624e0b5d35492ead3add06aaef0a72c51a1ae292b1b1deb6606","dateKind":"filed"},{"id":"filing-5","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633424000044/ph-20240630.htm","publishedAt":"2024-08-22","sha256":"0c7664a238bedbd93517b7bcc6dd1e2bff41dbf83a6c735d877e0a5dd008fe1d","dateKind":"filed"},{"id":"filing-6","url":"https://www.sec.gov/Archives/edgar/data/76334/000007633426000008/ph-20251231.htm","publishedAt":"2026-01-30","sha256":"56aec1e193ba7c80673430bba111a2ec0d6a5be7c6b5cd893de11688fd7a2c7a","dateKind":"filed"}],"history":[{"version":3,"updatedAt":"2026-10-18T16:35:43.872Z","verdict":"uncertain","value":null},{"version":2,"updatedAt":"2026-10-18T02:27:49.793Z","verdict":"uncertain","value":null},{"version":1,"updatedAt":"2026-10-18T02:18:02.026Z","verdict":null,"value":null}],"hasRequested":false,"requestStatus":"completed","researchIssue":null,"archivedMoat":null,"scope":"supported_catalog"}