Valero Energy Corporation Financial Ratios — VLOE34 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 (%)	13.29	12.09	14.51	18.09	19.37	11.29	19.35	14.3	11.14	-7	5	54.91	35.41	10.89	9.74
Return on Assets (%)	5.2	4.77	5.93	7.82	8.89	5.06	8.44	6.22	4.66	-2.69	1.7	19.4	14.25	4.5	3.98
Return on Capital (%)	9.86	9.29	11.47	14.11	14.83	8.69	- -	10.26	7.42	- -	3.05	31.76	22.64	7.44	7.41
Return on Invested Capital (%)	9.27	12.66	9.78	13.71	14.53	8.88	- -	10.85	9	- -	4.83	31.49	22.14	7.33	5.91
Gross Margin (%)	3.37	4.21	3.41	5.06	8.05	5.68	4.74	4.74	4.36	-1.21	2.7	9.5	8.9	3.66	4.38
EBITDA Margin (%)	4.14	4.78	4.11	5.8	9.34	7.17	5.9	5.67	5.62	1.19	3.98	10.3	10.06	5.03	5.17
Operating Margin (%)	2.92	3.71	2.87	4.51	7.24	4.74	3.79	3.91	3.54	-2.43	1.87	8.93	8.19	2.89	3.51
Incremental Operating Margin (%)	4.12	11.69	367.71	- -	- -	22.79	- -	4.38	8.45	12.47	7.56	21.83	12.31	54.44	- -
Pretax Margin (%)	2.64	3.43	2.88	4.24	6.8	4.21	3.41	3.62	3.22	-3.1	1.35	8.68	8.13	2.85	2.45
Profit Margin (%)	1.66	1.51	1.97	2.77	4.54	3.03	4.33	2.67	2.24	-2.19	0.82	6.54	6.1	2.13	1.91
Net Income to Common Margin (%)	1.66	1.51	1.97	2.77	4.54	3.03	4.33	2.67	2.24	-2.19	0.82	6.54	6.1	2.13	1.91
Effective Tax Rate (%)	36.91	34.3	31.54	32.01	31.32	24.04	- -	20.77	20.14	- -	16.53	22.39	22.26	18.71	25.26
Dvd Payout Ratio (%)	8.07	11.57	16.92	14.37	20.13	43.65	29.24	38.2	47.43	-201.77	97.33	12.77	15.34	42.69	65.53
Sustainable Growth Rate (%)	12.22	10.69	12.05	15.49	15.47	6.36	13.69	8.84	5.86	-21.12	0.13	47.89	29.97	6.24	3.36

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	7,741	7,049	6,564	6,386	7,335	8,001	8,872	9,109	10,962	15,847	15,125	12,722	12,637	11,540	11,703
ST Debt	1,009	586	303	606	127	115	122	238	825	1,008	1,579	1,420	1,766	1,121	1,368
LT Debt	6,732	6,463	6,261	5,780	7,208	7,886	8,750	8,871	10,137	14,839	13,546	11,302	10,871	10,419	10,335
Total Debt/EBITDA	1.48	1.07	1.16	0.84	0.89	1.47	1.6	1.37	1.8	20.53	3.34	0.7	0.87	1.77	1.85
Net Debt/EBITDA	1.29	0.8	0.4	0.36	0.39	0.59	0.54	0.92	1.16	14.72	2.15	0.37	0.42	0.89	0.94
Total Debt/EBIT	2.1	1.4	1.66	1.08	1.15	2.26	2.49	1.99	2.86	-10.04	7.1	0.81	1.07	3.07	3.68
Net Debt/EBIT	1.83	1.06	0.57	0.46	0.51	0.9	0.85	1.34	1.85	-7.2	4.58	0.43	0.51	1.55	1.86
EBITDA to Interest Expense	13	21.08	15.55	19.12	18.94	12.17	11.86	14.13	13.42	1.37	7.52	32.32	24.59	11.74	11.4
EBITDA-CapEx/Interest Expense	13	21.08	15.55	19.12	18.94	12.17	11.86	13.45	13.41	1.37	7.52	32.32	24.59	11.74	11.4
EBIT to Interest Expense	9.18	16.34	10.84	14.87	14.68	8.05	7.61	9.73	8.45	-2.8	3.53	28.03	20.03	6.75	7.76
Interest Expense	401	314	365	397	433	446	468	470	454	563	603	562	592	556	556
Common Equity/Total Assets	38.39	40.54	41.18	45.39	46.41	43.37	43.84	43.2	40.48	36.31	31.84	38.64	41.78	40.76	40.91
Long-Term Debt/Equity (%)	40.94	35.72	31.39	27.21	33.75	37.82	38.21	39.03	44.98	75.55	68.36	44.38	38.11	37.86	38.85
Long-Term Debt/Capital (%)	27.83	25.7	23.62	20.92	25.12	27.33	27.54	27.86	30.26	41.81	38.77	29.59	26.41	26.67	26.98
Long-Term Debt/Total Assets (%)	15.74	14.53	13.25	12.69	16.3	17.08	17.44	17.69	18.82	28.66	23.4	18.53	17.24	17.32	17.82
Total Debt/Equity (%)	47.07	38.96	32.91	30.06	34.35	38.37	38.74	40.07	48.64	80.68	76.32	49.95	44.3	41.93	43.99
Total Debt/Capital (%)	32.01	28.03	24.76	23.11	25.57	27.73	27.92	28.61	32.72	44.65	43.29	33.31	30.7	29.54	30.55
Total Debt/Total Assets (%)	18.09	15.85	13.89	14.02	16.58	17.33	17.69	18.16	20.35	30.61	26.13	20.86	20.04	19.19	20.18
Net Debt to Equity	40.85	29.43	11.39	12.7	15.08	15.27	13.2	26.95	31.46	57.86	49.19	26.59	21.39	21.1	22.29
Net Debt/Capital (%)	29	22.74	10.23	11.27	13.11	13.25	11.66	21.23	22.93	35.32	31.63	20.32	17.07	16.88	17.64
EBITDA	5,214	6,618	5,677	7,592	8,200	5,428	5,549	6,641	6,091	772	4,535	18,163	14,559	6,529	6,339
EBITDA-CapEx	5,214	6,618	5,677	7,592	8,200	5,428	5,549	6,321	6,088	772	4,535	18,163	14,559	6,529	6,339
Operating Income (Loss)	3,680	5,130	3,957	5,902	6,358	3,590	3,563	4,572	3,836	-1,579	2,130	15,751	11,858	3,755	4,312

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	0.08	0.14	0.33	0.37	0.59	0.58	0.53	0.28	0.2	0.36	0.24	0.28	0.32	0.3	0.33
Current Ratio	1.26	1.38	1.47	1.66	2.13	2.02	1.74	1.65	1.44	1.71	1.26	1.38	1.56	1.53	1.65
Quick Ratio	0.78	0.84	1	0.97	1.26	1.29	1.15	0.96	0.88	1.01	0.86	0.96	1.07	0.99	1.03
CFO/Avg Current Liab	0.38	0.43	0.44	0.37	0.66	0.63	0.57	0.4	0.46	0.08	0.45	0.73	0.54	0.41	0.39
Common Equity/Total Assets	38.39	40.54	41.18	45.39	46.41	43.37	43.84	43.2	40.48	36.31	31.84	38.64	41.78	40.76	40.91
Long-Term Debt/Equity (%)	40.94	35.72	31.39	27.21	33.75	37.82	38.21	39.03	44.98	75.55	68.36	44.38	38.11	37.86	38.85
Long-Term Debt/Capital (%)	27.83	25.7	23.62	20.92	25.12	27.33	27.54	27.86	30.26	41.81	38.77	29.59	26.41	26.67	26.98
Long-Term Debt/Total Assets (%)	15.74	14.53	13.25	12.69	16.3	17.08	17.44	17.69	18.82	28.66	23.4	18.53	17.24	17.32	17.82
Total Debt/Equity (%)	47.07	38.96	32.91	30.06	34.35	38.37	38.74	40.07	48.64	80.68	76.32	49.95	44.3	41.93	43.99
Total Debt/Capital (%)	32.01	28.03	24.76	23.11	25.57	27.73	27.92	28.61	32.72	44.65	43.29	33.31	30.7	29.54	30.55
Total Debt/Total Assets (%)	18.09	15.85	13.89	14.02	16.58	17.33	17.69	18.16	20.35	30.61	26.13	20.86	20.04	19.19	20.18
CFO/Total Liabilities	15.33	19.98	20.37	17.45	24.53	19.04	20.11	15.94	17.66	2.95	15.39	35.41	26.73	20.49	18.56
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	13.66	1,843.67	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	- -	3.65	4.01	4.36	3.99	2.54	3.36	5.58	4.9	4.34	4.66

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	19.46	16.85	16.59	18.57	18.27	15.45	15.07	17	14.4	10.09	15.43	17.02	13.28	12.51	12.96
Days Sales Outstanding	18.76	21.66	22	19.65	19.98	23.62	24.22	21.47	25.34	36.17	23.66	21.45	27.48	29.18	28.17
Inventory Turnover	23.03	22.86	22.74	20.07	12.9	12.3	14.81	17.26	15.3	10.07	18.03	24.53	18.4	16.31	15.28
Days Inventory Outstanding	15.85	15.96	16.05	18.19	28.3	29.68	24.65	21.14	23.86	36.25	20.25	14.88	19.84	22.38	23.88
Accounts Payable Turnover	15.39	14.12	13.81	14.99	13.72	12.64	12.27	13.18	11.07	7.95	11.96	12.7	10.49	10.16	10.54
Accounts Payable Turnover Days	23.72	25.84	26.43	24.35	26.61	28.88	29.75	27.7	32.96	45.92	30.51	28.75	34.79	35.92	34.63
Cash Conversion Cycle	10.88	11.79	11.63	13.49	21.67	24.42	19.12	14.92	16.24	26.5	13.4	7.58	12.53	15.65	17.42
Inventory to Cash Days	2.91	5.7	5.94	1.46	-8.32	-6.06	-0.43	0.33	1.48	-0.08	3.41	6.57	7.64	6.8	4.29
Inventories	5,623	5,973	5,758	6,623	5,898	5,709	6,384	6,532	7,013	6,038	6,265	6,752	7,583	7,761	7,591
Raw Materials	2,887	2,866	2,527	2,697	2,890	2,556	2,925	2,879	2,979	2,613	2,698	3,173	3,793	3,745	3,409
Work In Process	2,474	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	2,736	3,107	3,231	3,926	3,774	3,153	3,459	3,653	4,034	3,425	3,567	3,579	3,790	4,016	4,182
Other Inventory	-2,474	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	- -	- -	- -	- -	- -	30,783	39,999	29,702	39,362	23,055	30,121	46,498	43,969	37,415	48,324
- Cash & Cash Equivalents	1,024	1,723	4,292	3,689	4,114	4,816	5,850	2,982	2,583	3,313	4,122	4,862	5,424	4,657	4,688
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	22	63	486	567	827	830	909	1,064	733	841	1,387	1,907	2,178	3,009	2,880
+ Total Debt	7,741	7,049	6,564	6,386	7,335	8,001	8,872	9,109	10,962	15,847	15,125	12,722	12,637	11,540	11,703
Enterprise Value	- -	- -	- -	- -	- -	34,798	43,930	36,893	48,474	36,430	42,511	56,265	53,360	47,307	58,219
Total Capital	24,186	25,144	26,510	27,630	28,689	28,855	31,772	31,840	33,498	35,489	34,942	38,190	41,161	39,061	38,308
Total Debt/Capital (%)	32.01	28.03	24.76	23.11	25.57	27.73	27.92	28.61	32.72	44.65	43.29	33.31	30.7	29.54	30.55
Total Debt / EV	- -	- -	- -	- -	- -	0.23	0.2	0.25	0.23	0.44	0.36	0.23	0.24	0.24	0.2
EV/Sales	- -	- -	- -	- -	- -	0.46	0.47	0.32	0.45	0.56	0.37	0.32	0.37	0.36	0.47
EV/EBITDA	- -	- -	- -	- -	- -	6.41	7.92	5.56	7.96	47.19	9.37	3.1	3.67	7.25	9.18
EV/EBIT	- -	- -	- -	- -	- -	9.85	12.33	8.07	12.64	- -	19.96	3.59	4.5	12.6	18.3
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	6.75	- -	7.78	8.22	- -	6.68	4.32	5.51	6.63	9.33
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	6.75	- -	8.34	8.23	- -	6.68	4.32	5.51	6.63	9.33
Diluted Market Cap	- -	- -	- -	- -	- -	31,744	40,930	30,442	39,814	22,975	29,960	49,481	46,567	38,263	49,950
Diluted Enterprise Value	- -	- -	- -	- -	- -	35,759	44,861	37,633	48,926	36,350	42,350	59,248	55,958	48,155	59,845
EV per Share	- -	- -	- -	- -	- -	4.84	6.34	5.53	7.42	5.59	6.51	9.47	10.03	9.41	12.2
TTM Sales	125,987	138,393	138,074	130,844	87,804	75,659	93,980	117,033	108,324	64,912	113,977	176,383	144,766	129,881	122,687
TTM EBITDA	5,214	6,618	5,677	7,592	8,200	5,428	5,549	6,641	6,091	772	4,535	18,163	14,559	6,529	6,339
TTM Operating Income	3,680	5,130	3,957	5,902	6,358	3,590	3,563	4,572	3,836	-1,579	2,130	15,751	11,858	3,755	4,312
TTM Cash Flow to Firm	4,291	5,476	5,814	4,511	5,908	5,159	- -	4,743	5,894	- -	6,362	13,010	9,689	7,135	6,242
TTM Free Cash Flow to Firm	4,291	5,476	5,814	4,511	5,908	5,159	- -	4,423	5,891	- -	6,362	13,010	9,689	7,135	6,242

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	- -	- -	- -	- -	- -	6.59	7.47	7.51	7.2	24.24	5.11	3.94	5.05	5.73	8.57
EV/EBIT	- -	- -	- -	- -	- -	9.85	12.33	8.07	12.64	- -	19.96	3.59	4.5	12.6	18.3
Enterprise Value	- -	- -	- -	- -	- -	34,798	43,930	36,893	48,474	36,430	42,511	56,265	53,360	47,307	58,219
Low Price	- -	- -	- -	- -	- -	3.24	3.9	4.46	4.5	2.22	3.41	4.53	6.57	7.44	6.53
EV/Sales	- -	- -	- -	- -	- -	0.46	0.47	0.32	0.45	0.56	0.37	0.32	0.37	0.36	0.47
EV/EBITDA	- -	- -	- -	- -	- -	6.41	7.92	5.56	7.96	47.19	9.37	3.1	3.67	7.25	9.18
Price/Earnings	- -	- -	- -	- -	- -	13.78	10.02	9.71	16.4	- -	32.21	4.28	5.27	13.81	21.27
Price/Earnings Average	- -	- -	- -	- -	- -	11.75	7.76	14.08	14.04	- -	31.1	3.78	5.09	16.75	18.08
Price/Earnings High	- -	- -	- -	- -	- -	13.91	10.02	17	16.4	- -	36.57	5	6	21.3	23.79
Price/Earnings Low	- -	- -	- -	- -	- -	10.4	6.76	9.71	12.25	- -	23.8	2.48	4.19	13.81	13.72
Price/Book Value	- -	- -	- -	- -	- -	1.54	1.82	1.37	1.81	1.23	1.63	1.97	1.67	1.53	2.04
Price/Book Value Average	- -	- -	- -	- -	- -	1.31	1.41	1.99	1.55	1.15	1.58	1.74	1.61	1.85	1.73
Price/Book Value High	- -	- -	- -	- -	- -	1.55	1.82	2.4	1.81	1.64	1.86	2.31	1.9	2.35	2.28
Price/Book Value Low	- -	- -	- -	- -	- -	1.16	1.23	1.37	1.35	0.77	1.21	1.14	1.33	1.53	1.31
Price/Tangible Book Value	- -	- -	- -	- -	- -	1.55	1.83	1.41	1.85	1.26	1.68	2.01	1.7	1.55	2.07
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	1.32	1.42	2.04	1.58	1.19	1.62	1.78	1.64	1.88	1.76
Price/Tangible Book Value High	- -	- -	- -	- -	- -	1.56	1.83	2.47	1.85	1.69	1.9	2.35	1.93	2.39	2.31
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	1.17	1.24	1.41	1.38	0.79	1.24	1.16	1.35	1.55	1.34
Price/Sales	- -	- -	- -	- -	- -	0.42	0.43	0.26	0.37	0.35	0.26	0.28	0.32	0.29	0.41
Price/Sales Average	- -	- -	- -	- -	- -	0.36	0.34	0.38	0.31	0.33	0.25	0.25	0.31	0.36	0.35
Price/Sales High	- -	- -	- -	- -	- -	0.42	0.43	0.45	0.37	0.47	0.3	0.33	0.37	0.45	0.46
Price/Sales Low	- -	- -	- -	- -	- -	0.31	0.29	0.26	0.27	0.22	0.19	0.16	0.26	0.29	0.26
Price/Cash Flow	- -	- -	- -	- -	- -	6.54	7.43	6.93	7.18	24.24	5.11	3.93	5.05	5.73	8.57
Price/Cash Flow Average	- -	- -	- -	- -	- -	5.58	5.76	10.06	6.15	22.79	4.94	3.46	4.88	6.94	7.28
Price/Cash Flow High	- -	- -	- -	- -	- -	6.61	7.43	12.14	7.18	32.47	5.81	4.59	5.74	8.83	9.59
Price/Cash Flow Low	- -	- -	- -	- -	- -	4.94	5.02	6.93	5.36	15.22	3.78	2.27	4.01	5.73	5.53
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	5.62	5.78	10.91	6.16	22.79	4.94	3.47	4.88	6.94	7.28
Price/Free Cash Flow High	- -	- -	- -	- -	- -	6.65	7.47	13.16	7.2	32.47	5.81	4.6	5.74	8.83	9.59
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	4.97	5.04	7.51	5.38	15.22	3.78	2.27	4.01	5.73	5.53
EV/Sales Average	- -	- -	- -	- -	- -	0.4	0.37	0.43	0.4	0.54	0.36	0.29	0.36	0.43	0.42
EV/Sales High	- -	- -	- -	- -	- -	0.46	0.47	0.51	0.45	0.68	0.41	0.36	0.41	0.52	0.52
EV/Sales Low	- -	- -	- -	- -	- -	0.36	0.33	0.32	0.36	0.43	0.3	0.21	0.31	0.36	0.33
EV/EBITDA Average	- -	- -	- -	- -	- -	5.58	6.29	7.57	7.03	45.41	9.14	2.8	3.56	8.46	8.04
EV/EBITDA High	- -	- -	- -	- -	- -	6.47	7.92	8.92	7.96	57.33	10.27	3.53	4.08	10.35	10.09
EV/EBITDA Low	- -	- -	- -	- -	- -	5.02	5.57	5.56	6.32	36.08	7.64	2.02	3.05	7.25	6.48
EV/EBIT Average	- -	- -	- -	- -	- -	8.56	9.8	11	11.16	- -	19.47	3.24	4.38	14.72	16.02
EV/EBIT High	- -	- -	- -	- -	- -	9.93	12.33	12.95	12.64	- -	21.87	4.08	5.01	18	20.1
EV/EBIT Low	- -	- -	- -	- -	- -	7.71	8.68	8.07	10.04	- -	16.27	2.34	3.74	12.6	12.91
Last Price	- -	- -	- -	- -	- -	4.29	5.77	4.46	6.02	3.54	4.61	7.83	8.26	7.44	10.13
High Price	- -	- -	- -	- -	- -	4.33	5.77	7.8	6.02	4.74	5.23	9.14	9.4	11.48	11.32
Enterprise Value Average	- -	- -	- -	- -	- -	30,263	34,902	50,296	42,802	35,057	41,469	50,783	51,888	55,261	50,955
Enterprise Value High	- -	- -	- -	- -	- -	35,092	43,930	59,220	48,474	44,260	46,586	64,091	59,421	67,590	63,929
Enterprise Value Low	- -	- -	- -	- -	- -	27,257	30,922	36,893	38,511	27,851	34,647	36,648	44,359	47,307	41,067

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	8,889	8,813	8,550	8,210	7,551	7,183	6,927	6,666	6,534	6,520	6,532	5,941	5,321	5,026	4,772
Diluted Weighted Avg Shares	9,083	8,876	8,748	8,461	7,982	7,407	7,088	6,832	6,609	6,497	6,497	6,322	5,635	5,140	4,933
Basic Weighted Avg Shares	8,988	8,780	8,652	8,397	7,934	7,359	7,056	6,800	6,593	6,497	6,497	6,306	5,635	5,140	4,933
Revenue per Share	14.02	15.76	15.96	15.58	11.07	10.28	13.32	17.21	16.43	9.99	17.54	27.97	25.69	25.27	24.87
EBITDA per Share	0.58	0.75	0.66	0.9	1.03	0.74	0.79	0.98	0.92	0.12	0.7	2.88	2.58	1.27	1.29
Operating Income per Share	0.41	0.58	0.46	0.7	0.8	0.49	0.5	0.67	0.58	-0.24	0.33	2.5	2.1	0.73	0.87
Basic EPS, GAAP	0.23	0.24	0.31	0.43	0.5	0.31	0.58	0.46	0.37	-0.22	0.14	1.83	1.57	0.54	0.48
Basic EPS from Cont Ops	0.23	0.35	0.31	0.45	0.52	0.33	0.59	0.49	0.42	-0.17	0.2	1.88	1.62	0.58	0.46
Diluted EPS, GAAP	0.23	0.23	0.31	0.43	0.5	0.31	0.57	0.46	0.37	-0.22	0.14	1.82	1.57	0.54	0.48
Diluted EPS from Cont Ops	0.23	0.35	0.31	0.45	0.51	0.33	0.59	0.49	0.42	-0.17	0.2	1.88	1.62	0.58	0.46
Dividend per Share	0.02	0.04	0.05	0.07	0.11	0.15	0.18	0.2	0.23	0.25	0.25	0.25	0.26	0.27	0.28
Cash Flow per Share	0.45	0.6	0.64	0.51	0.71	0.65	0.78	0.64	0.84	0.15	0.9	1.99	1.64	1.3	1.18
Free Cash Flow per Basic Share	0.45	0.6	0.64	0.51	0.71	0.65	0.78	0.6	0.84	0.15	0.9	1.99	1.64	1.3	1.18
Cash & Equivalents per Share	0.12	0.2	0.5	0.45	0.54	0.67	0.84	0.45	0.4	0.51	0.63	0.82	1.02	0.93	0.98
Book Value per Share	1.85	2.05	2.28	2.52	2.72	2.79	3.17	3.25	3.34	2.88	2.82	3.97	4.95	4.88	4.97
Tangible Book Value per Share	1.82	2.02	2.26	2.5	2.7	2.77	3.15	3.17	3.25	2.81	2.75	3.89	4.87	4.79	4.89