Mastercard Incorporated Financial Ratios — MSCD34 Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	34.43	43.16	43.27	50.68	59.42	69.48	70.39	107.87	143.83	104.38	126.79	145.92	169.27	191.95	210.49
Return on Assets (%)	19.52	23.83	23.34	24.46	24.12	23.24	19.57	25.37	30.01	20.41	24.38	26	27.58	28.44	29.28
Return on Capital (%)	34.71	43.32	43.34	46.18	43.69	40.88	36.67	52.69	63.06	39.9	44.69	49.52	54.17	56.6	60.4
Return on Invested Capital (%)	33.68	42.55	42.68	45.42	43.59	40.41	35.79	51.13	60.1	38.99	41.4	49.05	52.45	54.39	57.61
Gross Margin (%)	78.36	78.83	79.08	78.14	78.22	79.35	78.5	78.5	79.05	75.25	76.23	76.33	76.01	76.31	77.89
EBITDA Margin (%)	43.3	56.38	57.28	57.48	56.32	56.92	56.49	51.78	60.33	56.6	57.23	58.52	59	58.5	61.11
Operating Margin (%)	51.68	53.9	55.34	53.77	52.31	54.86	53.96	56.01	57.43	53.35	54.16	57.21	58.29	57.96	59.51
Incremental Operating Margin (%)	60.85	75.92	66.88	42.16	- -	77.1	48.29	66.49	68.39	96.9	57.61	74.41	66.69	55.29	68.92
Pretax Margin (%)	40.93	53.21	54.14	53.8	51.29	52.39	52.19	48.19	57.64	50.72	54.58	52.76	54.34	54.16	56.66
Profit Margin (%)	28.39	37.33	37.49	38.31	39.39	37.67	31.33	39.19	48.08	41.9	46	44.66	44.61	45.71	45.65
Net Income to Common Margin (%)	28.39	37.33	37.49	38.31	39.39	37.67	31.33	39.19	48.08	41.9	46	44.66	44.61	45.71	45.65
Effective Tax Rate (%)	30.64	29.85	30.76	28.79	23.19	28.11	39.97	18.67	16.58	17.38	15.72	15.36	17.92	15.6	19.43
Dvd Payout Ratio (%)	4.04	4.79	8.18	14.24	19.09	20.62	24.06	17.82	16.57	25.04	20.04	19.16	19.28	19.02	18.41
Sustainable Growth Rate (%)	33.03	41.09	39.73	43.46	48.07	55.15	53.45	88.65	120	78.25	101.38	117.96	136.64	155.45	171.73

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	- -	1,494	3,268	5,180	5,424	6,334	8,527	12,672	13,901	14,023	15,681	18,226	19,000
ST Debt	- -	- -	- -	- -	- -	- -	- -	500	- -	649	792	274	1,337	750	749
LT Debt	- -	- -	- -	1,494	3,268	5,180	5,424	5,834	8,527	12,023	13,109	13,749	14,344	17,476	18,251
Total Debt/EBITDA	- -	- -	- -	0.28	0.6	0.84	0.77	0.82	0.84	1.46	1.29	1.08	1.06	1.11	0.95
Net Debt/EBITDA	-1.28	-0.49	-0.76	-0.67	-0.46	-0.25	-0.07	-0.04	0.15	0.3	0.6	0.54	0.48	0.59	0.42
Total Debt/EBIT	- -	- -	- -	0.29	0.64	0.9	0.82	0.87	0.88	1.57	1.38	1.14	1.12	1.17	1.01
Net Debt/EBIT	-1.38	-0.52	-0.8	-0.71	-0.49	-0.27	-0.08	-0.05	0.16	0.32	0.64	0.57	0.51	0.63	0.45
EBITDA to Interest Expense	116.28	208.35	340.07	113.06	89.25	64.57	45.84	41.62	45.47	22.79	25.08	27.63	25.75	25.51	27.76
EBITDA-CapEx/Interest Expense	109.2	203.55	329	109.42	86.34	62.31	43.89	39.84	43.59	21.9	24.13	26.69	25.11	24.78	27.08
EBIT to Interest Expense	138.8	199.2	328.57	105.75	82.9	62.23	43.79	45.02	43.29	21.48	23.73	27.01	25.44	25.27	27.03
Interest Expense	25	20	14	48	61	95	154	186	224	380	431	471	575	646	722
Common Equity/Total Assets	54.88	55.5	52.55	44.3	37.1	30.29	25.64	21.7	20.16	19.03	19.41	16.26	16.32	13.49	14.29
Long-Term Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	106.29	142.33	184.49	176.86	215.6	205	268.24	235.62
Long-Term Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	49.34	58.73	62.66	61.51	67.4	63.25	70.64	68.24
Long-Term Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	23.47	29.17	35.8	34.8	35.51	33.79	36.35	33.7
Total Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	115.39	142.33	194.45	187.55	219.9	224.11	279.75	245.29
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	25.48	29.17	37.73	36.9	36.21	36.94	37.91	35.08
Net Debt to Equity	-63.54	-29.61	-48.02	-53.39	-40.89	-27.11	-9.14	-6.34	25.69	39.27	87.43	110	101.37	150.18	108.88
Net Debt/Capital (%)	-174.24	-42.08	-92.38	-114.52	-69.19	-37.2	-10.06	-6.77	20.44	28.2	46.65	52.38	50.34	60.03	52.13
EBITDA	2,907	4,167	4,761	5,427	5,444	6,134	7,059	7,741	10,186	8,661	10,808	13,014	14,807	16,479	20,040
EBITDA-CapEx	2,730	4,071	4,606	5,252	5,267	5,919	6,759	7,411	9,764	8,322	10,401	12,572	14,436	16,005	19,551
Operating Income (Loss)	3,470	3,984	4,600	5,076	5,057	5,912	6,743	8,374	9,696	8,163	10,227	12,722	14,630	16,327	19,514

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.17	1.02	1.04	1.02	1.07	1.16	0.89	0.72	0.64	0.89	0.6	0.52	0.56	0.46	0.48
Current Ratio	1.84	1.91	1.82	1.77	1.75	1.84	1.57	1.39	1.42	1.61	1.29	1.17	1.17	1.03	1.03
Quick Ratio	1.52	1.44	1.43	1.37	1.42	1.5	1.27	1.13	1.11	1.26	0.83	0.76	0.81	0.65	0.68
CFO/Avg Current Liab	0.73	0.65	0.76	0.56	0.66	0.69	0.71	0.61	0.7	0.61	0.76	0.82	0.79	0.83	0.84
Common Equity/Total Assets	54.88	55.5	52.55	44.3	37.1	30.29	25.64	21.7	20.16	19.03	19.41	16.26	16.32	13.49	14.29
Long-Term Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	106.29	142.33	184.49	176.86	215.6	205	268.24	235.62
Long-Term Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	49.34	58.73	62.66	61.51	67.4	63.25	70.64	68.24
Long-Term Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	23.47	29.17	35.8	34.8	35.51	33.79	36.35	33.7
Total Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	115.39	142.33	194.45	187.55	219.9	224.11	279.75	245.29
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	25.48	29.17	37.73	36.9	36.21	36.94	37.91	35.08
CFO/Total Liabilities	55.73	53.28	61.29	40.06	40.25	35.69	35.94	32.13	35.2	26.69	31.28	34.61	33.79	35.56	38.03
CFO/CapEx	15.16	30.71	26.68	19.47	23.17	21.57	18.88	18.86	19.39	21.31	23.25	25.33	32.29	31.18	36.09
Altman's Z-Score	- -	- -	12.17	10.97	10.61	9.26	10.38	10.02	12.18	11.86	11.7	11.43	12.17	12.64	12.29

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	6.87	8.53	8.79	9.1	8.84	8.64	7.38	7.04	7.05	5.93	6.68	6.92	6.71	7.19	7.82
Days Sales Outstanding	53.14	42.79	41.52	40.11	41.31	42.25	49.43	51.82	51.78	61.54	54.62	52.78	54.43	50.75	46.65
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	97,513	100,935	111,534	114,114	162,408	190,551	305,146	358,322	358,071	335,715	403,030	492,775	519,977
- Cash & Cash Equivalents	3,734	2,052	3,599	5,137	5,747	6,721	5,933	6,682	6,988	10,113	7,421	7,008	8,588	8,442	10,566
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	9	12	11	34	34	28	100	94	98	126	100	79	68	30	9
+ Total Debt	- -	- -	- -	1,494	3,268	5,180	5,424	6,334	8,527	12,672	13,901	14,023	15,681	18,226	19,000
Enterprise Value	- -	- -	91,229	96,088	108,098	110,987	160,150	188,601	306,095	360,524	364,178	342,409	409,599	502,259	528,088
Total Capital	5,877	6,929	7,495	8,318	9,330	10,864	10,992	11,823	14,518	19,189	21,313	20,400	22,678	24,741	26,746
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt / EV	- -	- -	- -	0.02	0.03	0.05	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.04
EV/Sales	- -	- -	10.98	10.18	11.18	10.3	12.82	12.62	18.13	23.56	19.29	15.4	16.32	17.83	16.1
EV/EBITDA	- -	- -	19.16	17.71	19.86	18.09	22.69	24.36	30.05	41.63	33.7	26.31	27.66	30.48	26.35
EV/EBIT	- -	- -	20.26	18.82	21.29	19.27	24.18	25.9	31.67	44.61	36.12	27.92	29.24	32.23	27.95
EV/Cash Flow to Firm	- -	- -	22.01	27.92	26.06	23.59	27.82	29.59	36.57	47.83	37.06	29.53	32.89	32.77	28.97
EV/Free Cash Flow to Firm	- -	- -	22.87	29.42	27.22	24.72	29.35	31.2	38.51	50.08	38.66	30.7	33.9	33.82	29.77
Diluted Market Cap	- -	- -	3,273	102,375	113,633	116,225	165,182	193,508	309,564	362,117	362,456	340,982	408,208	500,112	526,935
Diluted Enterprise Value	- -	- -	-3,011	97,528	110,197	113,098	162,924	191,558	310,513	364,319	368,563	347,676	414,777	509,596	535,046
EV per Share	- -	- -	2.52	2.65	3.07	3.26	4.82	5.81	9.64	11.5	11.8	11.37	13.92	17.45	18.75
TTM Sales	6,714	7,391	8,312	9,441	9,667	10,776	12,497	14,950	16,883	15,301	18,884	22,237	25,098	28,167	32,791
TTM EBITDA	2,907	4,167	4,761	5,427	5,444	6,134	7,059	7,741	10,186	8,661	10,808	13,014	14,807	16,479	20,040
TTM Operating Income	3,470	3,984	4,600	5,076	5,057	5,912	6,743	8,374	9,696	8,163	10,227	12,722	14,630	16,327	19,514
TTM Cash Flow to Firm	2,701	2,962	4,145	3,441	4,148	4,705	5,756	6,374	8,370	7,538	9,826	11,594	12,452	15,325	18,230
TTM Free Cash Flow to Firm	2,524	2,866	3,990	3,266	3,971	4,490	5,456	6,044	7,948	7,199	9,419	11,152	12,081	14,851	17,741

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	0.82	31.68	28.96	26.28	30.79	32.84	39.89	52.6	40.02	31.71	35.16	34.96	30.71
EV/EBIT	- -	- -	20.26	18.82	21.29	19.27	24.18	25.9	31.67	44.61	36.12	27.92	29.24	32.23	27.95
Enterprise Value	- -	- -	91,229	96,088	108,098	110,987	160,150	188,601	306,095	360,524	364,178	342,409	409,599	502,259	528,088
Low Price	- -	- -	2.06	2.29	2.66	2.62	2.98	4.98	5.88	6.53	9.87	9.06	10.45	13.38	15
EV/Sales	- -	- -	10.98	10.18	11.18	10.3	12.82	12.62	18.13	23.56	19.29	15.4	16.32	17.83	16.1
EV/EBITDA	- -	- -	19.16	17.71	19.86	18.09	22.69	24.36	30.05	41.63	33.7	26.31	27.66	30.48	26.35
Price/Earnings	- -	- -	1.05	28.21	29.76	28.56	42	32.84	37.95	56.26	41.56	34.23	36.39	38.76	35.17
Price/Earnings Average	- -	- -	0.88	25.92	28.19	26.2	35.56	34.85	32.8	49.28	41.46	33.83	33.04	34.62	34.2
Price/Earnings High	- -	- -	1.05	29.13	30.94	29.35	42.62	40.33	38.44	58.72	47.08	39.66	37.71	39.84	37.2
Price/Earnings Low	- -	- -	0.8	23.22	24.92	22.34	25.55	27.88	23.22	32.13	35.37	27.82	27.76	30.29	28.58
Price/Book Value	- -	- -	13.03	14.87	18.5	20.18	29.7	35.32	51.78	56.07	48.97	53.3	58.17	75.99	67.21
Price/Book Value Average	- -	- -	10.99	13.66	17.53	18.51	25.15	37.48	44.75	49.11	48.85	52.67	52.82	67.87	65.35
Price/Book Value High	- -	- -	13.03	15.35	19.23	20.74	30.15	43.38	52.46	58.52	55.48	61.76	60.29	78.09	71.09
Price/Book Value Low	- -	- -	9.98	12.24	15.49	15.79	18.07	29.98	31.69	32.02	41.68	43.33	44.37	59.37	54.62
Price/Tangible Book Value	- -	- -	17.14	22.16	33.45	35.91	123.69	127.03	670.65	-1,112.8	-89.05	-66.05	-83.67	-60.38	-70.49
Price/Tangible Book Value Average	- -	- -	14.46	20.36	31.69	32.95	104.73	134.81	579.63	-974.67	-88.84	-65.26	-75.97	-53.93	-68.54
Price/Tangible Book Value High	- -	- -	17.14	22.89	34.78	36.91	125.54	156.02	679.45	-1,161.54	-100.89	-76.52	-86.72	-62.05	-74.56
Price/Tangible Book Value Low	- -	- -	13.12	18.25	28.01	28.09	75.26	107.84	410.45	-635.62	-75.79	-53.68	-63.83	-47.18	-57.28
Price/Sales	- -	- -	0.39	10.81	11.72	10.76	13.16	12.87	18.25	23.57	19.12	15.29	16.23	17.72	16.05
Price/Sales Average	- -	- -	0.33	9.93	11.1	9.87	11.14	13.66	15.77	20.65	19.07	15.11	14.74	15.83	15.61
Price/Sales High	- -	- -	0.39	11.16	12.19	11.06	13.35	15.81	18.49	24.6	21.66	17.71	16.82	18.21	16.98
Price/Sales Low	- -	- -	0.3	8.9	9.82	8.42	8.01	10.92	11.17	13.46	16.27	12.43	12.38	13.84	13.04
Price/Cash Flow	- -	- -	0.79	29.95	27.64	25	29.03	30.92	37.65	49.93	38.15	30.36	34	33.76	29.83
Price/Cash Flow Average	- -	- -	0.67	27.51	26.18	22.94	24.58	32.81	32.54	43.73	38.06	30	30.87	30.16	29
Price/Cash Flow High	- -	- -	0.79	30.92	28.73	25.69	29.46	37.97	38.14	52.11	43.22	35.18	35.24	34.7	31.55
Price/Cash Flow Low	- -	- -	0.6	24.65	23.14	19.56	17.66	26.24	23.04	28.52	32.47	24.68	25.94	26.38	24.24
Price/Free Cash Flow Average	- -	- -	0.69	29.1	27.43	24.12	26.07	34.85	34.47	46.07	39.93	31.33	31.93	31.23	29.86
Price/Free Cash Flow High	- -	- -	0.82	32.71	30.1	27.02	31.26	40.33	40.41	54.9	45.35	36.74	36.45	35.93	32.48
Price/Free Cash Flow Low	- -	- -	0.63	26.08	24.24	20.56	18.74	27.87	24.41	30.04	34.07	25.77	26.82	27.32	24.96
EV/Sales Average	- -	- -	9.14	9.31	10.57	9.43	10.82	13.4	15.68	20.66	19.24	15.22	14.84	15.96	15.67
EV/Sales High	- -	- -	10.98	10.53	11.64	10.6	13.01	15.52	18.37	24.59	21.81	17.79	16.91	18.32	17.02
EV/Sales Low	- -	- -	8.23	8.29	9.3	8	7.73	10.69	11.12	13.52	16.46	12.57	12.51	14.01	13.13
EV/EBITDA Average	- -	- -	15.96	16.19	18.77	16.56	19.16	25.87	25.98	36.49	33.62	26	25.16	27.29	25.64
EV/EBITDA High	- -	- -	19.16	18.31	20.67	18.61	23.03	29.98	30.44	43.44	38.1	30.4	28.66	31.31	27.85
EV/EBITDA Low	- -	- -	14.36	14.42	16.52	14.05	13.68	20.64	18.43	23.89	28.76	21.48	21.21	23.94	21.49
EV/EBIT Average	- -	- -	16.88	17.21	20.13	17.63	20.42	27.5	27.39	39.11	36.04	27.59	26.59	28.86	27.19
EV/EBIT High	- -	- -	20.26	19.46	22.16	19.82	24.55	31.87	32.09	46.56	40.84	32.26	30.29	33.11	29.53
EV/EBIT Low	- -	- -	15.18	15.33	17.71	14.96	14.58	21.95	19.42	25.6	30.83	22.8	22.42	25.32	22.79
Last Price	- -	- -	2.69	2.78	3.17	3.35	4.89	5.87	9.61	11.43	11.6	11.15	13.7	17.12	18.46
High Price	- -	- -	2.69	2.87	3.3	3.44	4.96	7.2	9.74	11.93	13.14	12.91	14.2	17.6	19.53
Enterprise Value Average	- -	- -	75,993	87,889	102,206	101,586	135,250	200,270	264,680	316,046	363,318	338,425	372,531	449,637	513,750
Enterprise Value High	- -	- -	91,229	99,385	112,511	114,173	162,580	232,078	310,097	376,218	411,798	395,668	424,313	515,892	558,121
Enterprise Value Low	- -	- -	68,370	78,254	89,943	86,156	96,563	159,804	187,703	206,870	310,870	279,568	314,030	394,530	430,680

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	39,968	38,828	36,194	36,311	35,159	34,057	33,206	32,481	31,738	31,362	30,875	30,119	29,426	28,777	28,167
Diluted Weighted Avg Shares	40,326	39,696	1,215	36,829	35,821	34,687	33,773	32,986	32,198	31,694	31,253	30,591	29,804	29,205	28,543
Basic Weighted Avg Shares	40,326	39,381	1,211	36,703	35,726	34,592	33,616	32,797	32,040	31,568	31,127	30,497	29,741	29,142	28,512
Revenue per Share	0.17	0.19	6.86	0.26	0.27	0.31	0.37	0.46	0.53	0.48	0.61	0.73	0.84	0.97	1.15
EBITDA per Share	0.07	0.11	3.93	0.15	0.15	0.18	0.21	0.24	0.32	0.27	0.35	0.43	0.5	0.57	0.7
Operating Income per Share	0.09	0.1	3.8	0.14	0.14	0.17	0.2	0.26	0.3	0.26	0.33	0.42	0.49	0.56	0.68
Basic EPS, GAAP	0.05	0.07	2.57	0.1	0.11	0.12	0.12	0.18	0.25	0.2	0.28	0.33	0.38	0.44	0.52
Basic EPS from Cont Ops	0.05	0.07	2.57	0.1	0.11	0.12	0.12	0.18	0.25	0.2	0.28	0.33	0.38	0.44	0.52
Diluted EPS, GAAP	0.05	0.07	2.56	0.1	0.11	0.12	0.12	0.18	0.25	0.2	0.28	0.32	0.38	0.44	0.52
Diluted EPS from Cont Ops	0.05	0.07	2.56	0.1	0.11	0.12	0.12	0.18	0.25	0.2	0.28	0.32	0.38	0.44	0.52
Dividend per Share	- -	- -	0.21	0.01	0.02	0.02	0.03	0.03	0.04	0.05	0.06	0.06	0.07	0.08	0.1
Cash Flow per Share	0.07	0.07	3.41	0.09	0.11	0.13	0.17	0.19	0.26	0.23	0.3	0.37	0.4	0.51	0.62
Free Cash Flow per Basic Share	0.06	0.07	3.29	0.09	0.11	0.13	0.16	0.18	0.24	0.22	0.29	0.35	0.39	0.49	0.6
Cash & Equivalents per Share	0.12	0.13	0.17	0.18	0.19	0.24	0.23	0.26	0.24	0.34	0.26	0.25	0.31	0.3	0.39
Book Value per Share	0.15	0.18	0.21	0.19	0.17	0.17	0.16	0.17	0.19	0.2	0.24	0.21	0.24	0.23	0.27
Tangible Book Value per Share	0.1	0.13	0.16	0.13	0.09	0.09	0.04	0.05	0.01	-0.01	-0.13	-0.17	-0.16	-0.28	-0.26