Union Pacific Corporation Financial Ratios — UPAC34 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 (%)	18.12	20.51	21.35	24.43	22.78	20.83	47.83	26.35	30.71	30.49	41.92	53.17	47.34	42.6	40.38
Return on Assets (%)	7.47	8.55	9.06	10.15	8.92	7.67	18.87	10.2	9.8	8.62	10.36	10.85	9.62	10.01	10.39
Return on Capital (%)	13.4	15.18	15.8	17.44	15.29	13.37	- -	15.69	15.28	13.76	16.3	17.2	15.44	15.71	16.21
Return on Invested Capital (%)	13	14.72	15.32	16.9	14.69	12.81	- -	15.29	14.66	13.11	15.55	16.24	14.45	14.96	15.07
Gross Margin (%)	33.27	36	37.77	40.34	41.15	41.32	42.63	41.78	44.29	46.99	48.22	45.05	43.65	45.52	45.78
EBITDA Margin (%)	37.54	40.64	41.99	44.43	46.14	46.54	48.07	46.9	49.61	51.42	52.95	48.9	47.27	49.94	50.23
Operating Margin (%)	29.27	32.23	33.9	36.49	36.91	36.32	38.16	37.3	39.4	40.11	42.83	39.87	37.65	40.05	40.17
Incremental Operating Margin (%)	28.67	74.58	67.6	64.54	32.23	43.22	66.44	25.82	- -	33.1	66.23	18.85	110.45	481.68	51.15
Pretax Margin (%)	26.92	30.19	32.09	34.78	35.1	33.93	35.93	33.9	35.69	35.73	38.88	36.47	34.13	36.26	37.4
Profit Margin (%)	16.83	18.84	19.98	21.59	21.88	21.23	50.43	26.13	27.27	27.38	29.92	28.13	26.45	27.82	29.12
Net Income to Common Margin (%)	16.83	18.84	19.98	21.59	21.88	21.23	50.43	26.13	27.27	27.38	29.92	28.13	26.45	27.82	29.12
Effective Tax Rate (%)	37.46	37.59	37.74	37.91	37.67	37.44	- -	22.93	23.6	23.37	23.06	22.86	22.52	23.28	22.13
Dvd Payout Ratio (%)	25.43	29.06	30.38	31.51	49.12	44.39	18.5	38.54	43.89	49.09	42.93	45.14	49.74	47.62	45.33
Sustainable Growth Rate (%)	13.51	14.55	14.87	16.73	11.59	11.59	38.98	16.2	17.23	15.52	23.93	29.17	23.79	22.31	22.07

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	8,906	8,997	9,577	11,413	14,201	15,007	16,944	22,391	27,033	28,333	31,488	34,957	34,179	32,463	32,822
ST Debt	209	196	705	461	594	758	800	1,466	1,619	1,390	2,496	2,009	1,778	1,771	1,790
LT Debt	8,697	8,801	8,872	10,952	13,607	14,249	16,144	20,925	25,414	26,943	28,992	32,948	32,401	30,692	31,032
Total Debt/EBITDA	1.21	1.06	1.04	1.07	1.41	1.62	1.66	2.09	2.51	2.82	2.73	2.87	3	2.68	2.67
Net Debt/EBITDA	1.05	0.93	0.88	0.92	1.27	1.48	1.53	1.97	2.26	2.44	2.49	2.66	2.77	2.49	2.48
Total Debt/EBIT	1.56	1.33	1.29	1.3	1.76	2.07	2.09	2.63	3.16	3.62	3.37	3.52	3.76	3.34	3.33
Net Debt/EBIT	1.34	1.18	1.09	1.12	1.59	1.9	1.93	2.48	2.85	3.12	3.08	3.26	3.47	3.11	3.1
EBITDA to Interest Expense	12.83	15.9	17.53	19	16.18	13.3	14.2	12.31	10.26	8.8	9.98	9.57	8.51	9.54	9.4
EBITDA-CapEx/Interest Expense	12.69	15.9	17.53	19	16.18	13.3	14.2	12.31	10.26	8.8	9.98	9.57	8.51	9.54	9.4
EBIT to Interest Expense	10.01	12.61	14.16	15.6	12.95	10.38	11.27	9.79	8.15	6.87	8.07	7.8	6.78	7.65	7.52
Interest Expense	572	535	526	561	622	698	719	870	1,050	1,141	1,157	1,271	1,340	1,269	1,309
Common Equity/Total Assets	41.2	42.15	42.68	40.46	37.92	35.77	43	34.53	29.39	27.18	22.29	18.58	22.03	24.94	26.5
Long-Term Debt/Equity (%)	46.81	44.28	41.8	51.69	65.73	71.49	64.95	102.46	140.19	158.88	204.73	270.89	219.1	181.72	168.04
Long-Term Debt/Capital (%)	31.64	30.48	28.8	33.59	38.99	40.78	38.62	48.87	56.27	59.49	63.51	69.92	66.17	62.19	60.5
Long-Term Debt/Total Assets (%)	19.29	18.66	17.84	20.91	24.92	25.57	27.93	35.38	41.21	43.18	45.64	50.34	48.26	45.33	44.52
Total Debt/Equity (%)	47.94	45.26	45.12	53.86	68.6	75.29	68.17	109.64	149.12	167.08	222.36	287.4	231.13	192.2	177.73
Total Debt/Capital (%)	32.4	31.16	31.09	35.01	40.69	42.95	40.54	52.3	59.86	62.56	68.98	74.19	69.8	65.78	63.99
Total Debt/Total Assets (%)	19.75	19.08	19.26	21.79	26.01	26.93	29.31	37.86	43.83	45.41	49.57	53.41	50.91	47.94	47.09
Net Debt to Equity	41.39	39.92	38.37	46.38	61.88	68.88	63.04	103.4	134.43	144.36	203.16	266	213.17	178.66	165.42
Net Debt/Capital (%)	29.27	28.53	27.73	31.68	38.23	40.79	38.67	50.84	54.97	56.29	64.38	70.11	65.8	62.43	61.07
EBITDA	7,341	8,505	9,223	10,657	10,064	9,281	10,211	10,708	10,770	10,044	11,546	12,163	11,400	12,111	12,311
EBITDA-CapEx	7,256	8,505	9,223	10,657	10,064	9,281	10,211	10,708	10,770	10,044	11,546	12,163	11,400	12,111	12,311
Operating Income (Loss)	5,724	6,745	7,446	8,753	8,052	7,243	8,106	8,517	8,554	7,834	9,338	9,917	9,082	9,713	9,846

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	0.37	0.34	0.38	0.42	0.43	0.37	0.35	0.29	0.2	0.45	0.18	0.18	0.21	0.2	0.3
Current Ratio	1.12	1.16	1.05	1.17	1.29	0.99	1.02	0.9	0.79	1.01	0.62	0.72	0.81	0.77	0.91
Quick Ratio	0.79	0.77	0.75	0.85	0.86	0.71	0.73	0.67	0.57	0.81	0.47	0.53	0.62	0.56	0.67
CFO/Avg Current Liab	1.87	1.91	1.97	1.95	2.11	2.2	1.91	2.03	1.92	2	1.82	1.66	1.58	1.8	1.81
Common Equity/Total Assets	41.2	42.15	42.68	40.46	37.92	35.77	43	34.53	29.39	27.18	22.29	18.58	22.03	24.94	26.5
Long-Term Debt/Equity (%)	46.81	44.28	41.8	51.69	65.73	71.49	64.95	102.46	140.19	158.88	204.73	270.89	219.1	181.72	168.04
Long-Term Debt/Capital (%)	31.64	30.48	28.8	33.59	38.99	40.78	38.62	48.87	56.27	59.49	63.51	69.92	66.17	62.19	60.5
Long-Term Debt/Total Assets (%)	19.29	18.66	17.84	20.91	24.92	25.57	27.93	35.38	41.21	43.18	45.64	50.34	48.26	45.33	44.52
Total Debt/Equity (%)	47.94	45.26	45.12	53.86	68.6	75.29	68.17	109.64	149.12	167.08	222.36	287.4	231.13	192.2	177.73
Total Debt/Capital (%)	32.4	31.16	31.09	35.01	40.69	42.95	40.54	52.3	59.86	62.56	68.98	74.19	69.8	65.78	63.99
Total Debt/Total Assets (%)	19.75	19.08	19.26	21.79	26.01	26.93	29.31	37.86	43.83	45.41	49.57	53.41	50.91	47.94	47.09
CFO/Total Liabilities	22.15	22.59	23.94	23.68	21.66	21.03	21.94	22.43	19.77	18.79	18.3	17.57	16.01	18.39	18.13
CFO/CapEx	69.09	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	2.88	3.04	3.79	3.42	3.65	3.68	3.93	3.58	3.8	3.83	3.84

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	15.13	15.32	16	15.86	14.7	15.26	15.44	14.06	12.96	12.6	13.51	13.77	12.17	12.23	13.06
Days Sales Outstanding	24.12	23.83	22.81	23.01	24.82	23.92	23.64	25.96	28.16	28.96	27.01	26.51	29.99	29.85	27.95
Inventory Turnover	22.74	21.03	20.82	20.97	17.73	16.11	16.62	17.83	16.2	14.91	17.93	20.07	18.32	17.47	17.08
Days Inventory Outstanding	16.05	17.36	17.53	17.41	20.59	22.66	21.96	20.47	22.53	24.48	20.35	18.18	19.93	20.89	21.37
Accounts Payable Turnover	17.55	16.35	16.78	17.11	15.88	13.76	12.42	14.1	14.93	15.05	16.53	17.96	16.58	15.55	16.12
Accounts Payable Turnover Days	20.79	22.33	21.75	21.34	22.99	26.53	29.4	25.89	24.44	24.25	22.08	20.33	22.02	23.48	22.64
Cash Conversion Cycle	19.38	18.86	18.59	19.09	22.42	20.06	16.2	20.54	26.25	29.19	25.28	24.36	27.9	27.26	26.68
Inventory to Cash Days	8.07	6.47	5.28	5.61	4.24	1.26	1.68	5.49	5.63	4.48	6.66	8.32	10.07	8.97	6.58
Inventories	614	660	653	712	736	717	749	742	751	638	621	741	743	769	787
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	614	660	653	712	736	717	749	742	751	638	621	741	743	769	787

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	- -	- -	- -	- -	66,830	84,468	106,162	95,396	125,822	134,574	156,921	128,184	147,439	138,523	137,700
- Cash & Cash Equivalents	1,217	1,063	1,432	1,586	1,391	1,277	1,275	1,273	831	1,799	960	973	1,055	1,016	1,266
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	8,906	8,997	9,577	11,413	14,201	15,007	16,944	22,391	27,033	28,333	31,488	34,957	34,179	32,463	32,822
Enterprise Value	- -	- -	- -	- -	79,640	98,138	121,741	116,454	151,964	161,048	187,403	162,122	180,547	169,950	169,006
Total Capital	27,484	28,874	30,802	32,602	34,903	34,939	41,800	42,814	45,161	45,291	45,649	47,120	48,967	49,353	51,289
Total Debt/Capital (%)	32.4	31.16	31.09	35.01	40.69	42.95	40.54	52.3	59.86	62.56	68.98	74.19	69.8	65.78	63.99
Total Debt / EV	- -	- -	- -	- -	0.18	0.15	0.14	0.19	0.18	0.18	0.17	0.22	0.19	0.19	0.19
EV/Sales	- -	- -	- -	- -	3.65	4.92	5.73	5.1	7	8.24	8.59	6.52	7.49	7.01	6.9
EV/EBITDA	- -	- -	- -	- -	7.91	10.57	11.92	10.88	14.11	16.03	16.23	13.33	15.84	14.03	13.73
EV/EBIT	- -	- -	- -	- -	9.89	13.55	15.02	13.67	17.77	20.56	20.07	16.35	19.88	17.5	17.16
EV/Cash Flow to Firm	- -	- -	- -	- -	10.3	12.33	- -	12.45	16.15	17.11	18.89	15.68	19.17	16.47	16.39
EV/Free Cash Flow to Firm	- -	- -	- -	- -	10.3	12.33	- -	12.45	16.15	17.11	18.89	15.68	19.17	16.47	16.39
Diluted Market Cap	- -	- -	- -	- -	68,419	86,634	108,987	99,243	128,367	136,128	160,988	130,614	147,559	139,522	138,316
Diluted Enterprise Value	- -	- -	- -	- -	81,229	100,304	124,566	120,301	154,509	162,602	191,470	164,552	180,667	170,949	169,622
EV per Share	- -	- -	- -	- -	3.92	5.03	6.51	6.71	9.17	10.02	12.25	11.06	12.37	11.75	11.9
TTM Sales	19,557	20,926	21,963	23,988	21,813	19,941	21,240	22,832	21,708	19,533	21,804	24,875	24,119	24,250	24,510
TTM EBITDA	7,341	8,505	9,223	10,657	10,064	9,281	10,211	10,708	10,770	10,044	11,546	12,163	11,400	12,111	12,311
TTM Operating Income	5,724	6,745	7,446	8,753	8,052	7,243	8,106	8,517	8,554	7,834	9,338	9,917	9,082	9,713	9,846
TTM Cash Flow to Firm	6,231	6,495	7,150	7,733	7,732	7,962	- -	9,357	9,411	9,414	9,922	10,342	9,417	10,320	10,309
TTM Free Cash Flow to Firm	6,146	6,495	7,150	7,733	7,732	7,962	- -	9,357	9,411	9,414	9,922	10,342	9,417	10,320	10,309

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	- -	- -	- -	- -	9.32	11.51	15.07	11.43	14.91	15.94	17.82	13.95	17.61	14.93	14.89
EV/EBIT	- -	- -	- -	- -	9.89	13.55	15.02	13.67	17.77	20.56	20.07	16.35	19.88	17.5	17.16
Enterprise Value	- -	- -	- -	- -	79,640	98,138	121,741	116,454	151,964	161,048	187,403	162,122	180,547	169,950	169,006
Low Price	- -	- -	- -	- -	3.14	2.9	4.23	5.15	5.75	5.03	8.1	7.68	7.08	9.1	8.67
EV/Sales	- -	- -	- -	- -	3.65	4.92	5.73	5.1	7	8.24	8.59	6.52	7.49	7.01	6.9
EV/EBITDA	- -	- -	- -	- -	7.91	10.57	11.92	10.88	14.11	16.03	16.23	13.33	15.84	14.03	13.73
Price/Earnings	- -	- -	- -	- -	14.28	20.39	10.13	16.56	21.61	25.38	24.62	18.63	23.09	20.65	19.35
Price/Earnings Average	- -	- -	- -	- -	15.92	17.76	8.32	18.17	19.94	22.48	21.96	20.32	20.05	21.56	19.05
Price/Earnings High	- -	- -	- -	- -	17.78	20.85	10.13	20.97	21.61	26.33	24.79	24.56	23.37	23.26	20.92
Price/Earnings Low	- -	- -	- -	- -	13.64	13.64	7.55	15.52	16.37	15.25	19.43	16.36	16.2	19.63	17.31
Price/Book Value	- -	- -	- -	- -	3.23	4.24	4.27	4.67	6.94	7.94	11.08	10.54	9.97	8.2	7.46
Price/Book Value Average	- -	- -	- -	- -	3.6	3.69	3.51	5.13	6.4	7.03	9.89	11.5	8.65	8.57	7.34
Price/Book Value High	- -	- -	- -	- -	4.02	4.33	4.27	5.91	6.94	8.23	11.16	13.9	10.09	9.24	8.06
Price/Book Value Low	- -	- -	- -	- -	3.08	2.83	3.18	4.38	5.26	4.77	8.75	9.26	6.99	7.8	6.67
Price/Tangible Book Value	- -	- -	- -	- -	3.32	4.36	4.38	4.82	7.19	8.27	11.65	11.21	10.55	8.6	7.77
Price/Tangible Book Value Average	- -	- -	- -	- -	3.7	3.8	3.6	5.29	6.64	7.32	10.39	12.23	9.16	8.99	7.65
Price/Tangible Book Value High	- -	- -	- -	- -	4.13	4.46	4.38	6.1	7.19	8.57	11.73	14.78	10.68	9.69	8.4
Price/Tangible Book Value Low	- -	- -	- -	- -	3.17	2.92	3.27	4.52	5.45	4.97	9.19	9.85	7.4	8.18	6.95
Price/Sales	- -	- -	- -	- -	3.13	4.33	5.11	4.33	5.89	6.95	7.37	5.24	6.11	5.74	5.63
Price/Sales Average	- -	- -	- -	- -	3.48	3.77	4.2	4.75	5.44	6.16	6.57	5.72	5.3	6	5.55
Price/Sales High	- -	- -	- -	- -	3.89	4.43	5.11	5.48	5.89	7.21	7.42	6.91	6.18	6.47	6.09
Price/Sales Low	- -	- -	- -	- -	2.98	2.89	3.81	4.06	4.46	4.18	5.81	4.6	4.28	5.46	5.04
Price/Cash Flow	- -	- -	- -	- -	9.28	11.47	15.01	11.37	14.86	15.9	17.78	13.92	17.58	14.9	14.87
Price/Cash Flow Average	- -	- -	- -	- -	10.34	9.99	12.33	12.48	13.71	14.08	15.86	15.19	15.26	15.56	14.64
Price/Cash Flow High	- -	- -	- -	- -	11.55	11.73	15.01	14.4	14.86	16.49	17.91	18.36	17.79	16.79	16.07
Price/Cash Flow Low	- -	- -	- -	- -	8.86	7.67	11.19	10.66	11.25	9.55	14.03	12.23	12.33	14.17	13.3
Price/Free Cash Flow Average	- -	- -	- -	- -	10.38	10.03	12.38	12.54	13.76	14.12	15.9	15.22	15.29	15.59	14.66
Price/Free Cash Flow High	- -	- -	- -	- -	11.6	11.77	15.07	14.47	14.91	16.53	17.95	18.4	17.82	16.82	16.1
Price/Free Cash Flow Low	- -	- -	- -	- -	8.9	7.7	11.23	10.71	11.3	9.57	14.07	12.25	12.35	14.19	13.32
EV/Sales Average	- -	- -	- -	- -	4	4.37	4.84	5.51	6.55	7.46	7.82	6.99	6.68	7.26	6.81
EV/Sales High	- -	- -	- -	- -	4.4	5.02	5.73	6.21	7	8.5	8.65	8.16	7.56	7.73	7.35
EV/Sales Low	- -	- -	- -	- -	3.51	3.52	4.46	4.84	5.59	5.49	7.08	5.89	5.66	6.73	6.3
EV/EBITDA Average	- -	- -	- -	- -	8.67	9.4	10.06	11.74	13.21	14.5	14.77	14.29	14.13	14.54	13.56
EV/EBITDA High	- -	- -	- -	- -	9.54	10.78	11.92	13.25	14.11	16.53	16.33	16.69	15.99	15.48	14.63
EV/EBITDA Low	- -	- -	- -	- -	7.61	7.56	9.27	10.32	11.28	10.68	13.37	12.05	11.97	13.47	12.55
EV/EBIT Average	- -	- -	- -	- -	10.84	12.04	12.68	14.76	16.63	18.6	18.26	17.53	17.74	18.13	16.95
EV/EBIT High	- -	- -	- -	- -	11.92	13.81	15.02	16.65	17.77	21.2	20.19	20.47	20.08	19.3	18.3
EV/EBIT Low	- -	- -	- -	- -	9.52	9.69	11.68	12.97	14.2	13.7	16.53	14.77	15.03	16.79	15.69
Last Price	- -	- -	- -	- -	3.29	4.33	5.68	5.5	7.59	8.37	10.26	8.74	10.1	9.57	9.69
High Price	- -	- -	- -	- -	4.09	4.43	5.68	6.96	7.59	8.68	10.33	11.53	10.22	10.79	10.48
Enterprise Value Average	- -	- -	- -	- -	87,269	87,228	102,759	125,751	142,226	145,686	170,481	173,811	161,082	176,092	166,878
Enterprise Value High	- -	- -	- -	- -	95,989	100,028	121,741	141,850	151,964	166,053	188,517	202,987	182,332	187,482	180,166
Enterprise Value Low	- -	- -	- -	- -	76,635	70,150	94,691	110,466	121,453	107,309	154,327	146,517	136,509	163,122	154,523

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	22,982	22,481	21,836	21,150	20,332	19,502	18,697	17,360	16,571	16,074	15,296	14,662	14,598	14,467	14,204
Diluted Weighted Avg Shares	23,454	22,817	22,305	21,575	20,816	20,002	19,195	18,060	16,906	16,260	15,692	14,940	14,610	14,572	14,268
Basic Weighted Avg Shares	23,258	22,655	22,185	21,479	20,739	19,930	19,116	17,979	16,844	16,216	15,654	14,909	14,586	14,548	14,246
Revenue per Share	0.84	0.92	0.99	1.12	1.05	1	1.11	1.27	1.29	1.2	1.39	1.67	1.65	1.67	1.72
EBITDA per Share	0.32	0.38	0.42	0.5	0.49	0.47	0.53	0.6	0.64	0.62	0.74	0.82	0.78	0.83	0.86
Operating Income per Share	0.25	0.3	0.34	0.41	0.39	0.36	0.42	0.47	0.51	0.48	0.6	0.67	0.62	0.67	0.69
Basic EPS, GAAP	0.14	0.17	0.2	0.24	0.23	0.21	0.56	0.33	0.35	0.33	0.42	0.47	0.44	0.46	0.5
Basic EPS from Cont Ops	0.14	0.17	0.2	0.24	0.23	0.21	0.56	0.33	0.35	0.33	0.42	0.47	0.44	0.46	0.5
Diluted EPS, GAAP	0.14	0.17	0.2	0.24	0.23	0.21	0.56	0.33	0.35	0.33	0.42	0.47	0.44	0.46	0.5
Diluted EPS from Cont Ops	0.14	0.17	0.2	0.24	0.23	0.21	0.56	0.33	0.35	0.33	0.42	0.47	0.44	0.46	0.5
Dividend per Share	0.04	0.05	0.06	0.08	0.11	0.09	0.1	0.13	0.15	0.16	0.18	0.21	0.22	0.22	0.23
Cash Flow per Share	0.25	0.27	0.31	0.34	0.35	0.38	0.38	0.48	0.51	0.53	0.58	0.63	0.57	0.64	0.65
Free Cash Flow per Basic Share	0.25	0.27	0.31	0.34	0.35	0.38	0.38	0.48	0.51	0.53	0.58	0.63	0.57	0.64	0.65
Cash & Equivalents per Share	0.05	0.05	0.07	0.07	0.07	0.07	0.07	0.08	0.05	0.12	0.07	0.07	0.07	0.07	0.11
Book Value per Share	0.81	0.88	0.97	1	1.02	1.02	1.33	1.18	1.09	1.05	0.93	0.83	1.01	1.17	1.3
Tangible Book Value per Share	0.79	0.87	0.95	0.98	0.99	0.99	1.29	1.14	1.06	1.01	0.88	0.78	0.96	1.11	1.25