Exposure to cyclical, fragmented, and competitive end markets Moderate concentration in the fairly volatile truck and auto markets Significant market positions in its flagship products resulting from the highly engineered nature of its products Good geographic diversity and proportion of recurring aftermarket revenues, which partially mitigates profit volatility Aggressive leverage metrics, including debt to EBITDA of about 5x in 2016 Acquisition-oriented growth strategy Moderate free cash flow generation between $40 million and $60 million annually The outlook is stable. Despite our expectation for continued soft operating conditions in EnPro Industries Inc.'s end markets, our stable outlook on the company reflects our expectation that it will maintain leverage at 5x or below over the next 12 months and that credit measures
