Biogen Inc. Financial Ratios — BIIB 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 (%)	20.88	20.62	23.9	30.21	35.15	34.42	20.52	34.54	44.64	33.28	14.41	25.08	8.24	10.36	7.39
Return on Assets (%)	14.4	14.39	16.94	22.42	20.98	17.47	10.91	18.11	22.42	15.43	6.42	12.58	4.52	5.95	4.5
Return on Capital (%)	17.34	18.05	21.78	28.62	26.18	22.6	13.66	24.21	31.26	21.56	8.8	17.3	6.56	8.12	6.29
Return on Invested Capital (%)	18.03	17.75	21.76	28.39	26.73	22.06	14.85	23.73	30.4	19.02	14.74	17.2	6.75	7.9	5.86
Gross Margin (%)	90.75	90.11	87.63	87.93	88.48	87.08	86.72	86.5	86.4	86.57	80.79	77.61	74.24	76.12	75.69
EBITDA Margin (%)	41.27	40.27	43.96	48.03	51.02	50.96	52.36	48.61	52.21	37.24	30.31	45.12	21.38	29.02	25.3
Operating Margin (%)	35.25	33.33	35.92	40.37	46.59	49.39	45.05	44.61	48.93	33.07	25.57	28.52	18.79	23.57	24.96
Incremental Operating Margin (%)	63.44	12.55	46.02	51.49	103.55	93.36	- -	39.98	111.88	277.45	66.52	- -	312.08	- -	87.84
Pretax Margin (%)	33.89	33.63	35.78	40.67	44.29	43.09	41.79	43.85	49.56	37.54	15.89	35.31	13.18	19.7	15.74
Profit Margin (%)	24.45	25.02	26.86	30.25	32.95	32.34	20.69	32.93	40.96	29.76	14.17	29.95	11.81	16.87	13.07
Net Income to Common Margin (%)	24.45	25.02	26.86	30.25	32.95	32.34	20.69	32.93	40.96	29.76	14.17	29.95	11.81	16.87	13.07
Effective Tax Rate (%)	25.98	25.37	24.23	25.08	24.37	25.08	47.94	24.16	16.25	19.66	3.01	17.62	10.43	14.37	16.94
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	20.88	20.62	23.9	30.21	35.15	34.42	20.52	34.54	44.64	33.28	14.41	25.08	8.24	10.36	7.39

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	1,064	1,141	596	583	6,526	6,517	5,938	5,937	6,368	7,828	7,604	6,614	7,338	6,630	6,577
ST Debt	3	453	3	3	5	5	3	- -	1,496	- -	999	- -	150	1,749	- -
LT Debt	1,061	687	592	580	6,522	6,513	5,935	5,937	4,872	7,828	6,604	6,614	7,188	4,882	6,577
Total Debt/EBITDA	0.51	0.51	0.2	0.13	1.19	1.12	0.92	0.91	0.85	1.56	2.28	1.44	3.49	2.36	2.63
Net Debt/EBITDA	0.26	0.26	- -	-0.13	0.95	0.72	0.68	0.72	0.41	1.22	1.51	0.62	2.8	1.4	1.31
Total Debt/EBIT	0.62	0.61	0.24	0.15	1.33	1.27	1.11	1.01	0.9	1.72	2.68	1.62	4.56	3.11	3.82
Net Debt/EBIT	0.32	0.31	- -	-0.16	1.07	0.81	0.82	0.8	0.43	1.34	1.76	0.7	3.66	1.84	1.9
EBITDA to Interest Expense	63.14	60.86	95.52	157.98	57.5	22.44	25.63	32.6	40.06	22.5	13.12	18.61	8.52	11.22	9.36
EBITDA-CapEx/Interest Expense	56.84	53.89	-14.48	147.27	50.61	19.64	17.8	28.18	36.49	20.02	11.96	17.63	7.26	9.78	8.48
EBIT to Interest Expense	53.93	50.37	78.06	132.77	52.51	21.75	22.05	29.91	37.54	19.98	11.07	11.77	7.48	9.11	9.23
Interest Expense	33	37	32	30	96	260	251	201	187	223	254	247	247	250	268
Common Equity/Total Assets	71	68.72	72.66	75.51	48.05	53.07	53.33	51.56	48.99	43.46	45.63	54.56	55.13	59.6	62.01
Long-Term Debt/Equity (%)	16.51	9.87	6.87	5.37	69.56	53.7	47.11	45.55	36.52	73.26	60.26	49.4	48.57	29.2	36.03
Long-Term Debt/Capital (%)	14.16	8.48	6.43	5.09	41.01	34.93	32.02	31.3	24.72	42.28	35.58	33.07	32.47	20.91	26.48
Long-Term Debt/Total Assets (%)	11.72	6.79	4.99	4.05	33.44	28.47	25.09	23.47	17.89	31.8	27.66	26.94	26.78	17.4	22.34
Total Debt/Equity (%)	16.56	16.38	6.91	5.39	69.61	53.74	47.14	45.55	47.74	73.26	69.38	49.4	49.58	39.66	36.03
Total Debt/Capital (%)	14.2	14.08	6.47	5.12	41.04	34.95	32.04	31.3	32.31	42.28	40.96	33.07	33.15	28.4	26.48
Total Debt/Total Assets (%)	11.76	11.26	5.02	4.08	33.46	28.49	25.11	23.47	23.38	31.8	31.84	26.94	27.34	23.64	22.34
Net Debt to Equity	8.55	8.19	-0.08	-5.75	55.66	34.55	34.64	36.16	22.8	57.04	45.73	21.37	39.79	23.46	17.96
Net Debt/Capital (%)	7.88	7.57	-0.08	-6.1	35.76	25.68	25.73	26.56	18.11	35.47	30.74	17.26	27.92	18.7	15.02
EBITDA	2,084	2,221	3,047	4,661	5,491	5,834	6,427	6,539	7,507	5,007	3,328	4,590	2,103	2,808	2,503
EBITDA-CapEx	1,876	1,967	-462	4,345	4,833	5,107	4,464	5,653	6,838	4,456	3,034	4,347	1,792	2,448	2,267
Operating Income (Loss)	1,780	1,838	2,490	3,917	5,015	5,654	5,529	6,001	7,036	4,446	2,808	2,902	1,848	2,280	2,469

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	1.85	1.03	0.7	0.83	1.33	1.43	1.1	1.07	0.92	0.7	0.88	1.49	0.31	0.43	1.14
Current Ratio	3.26	1.96	1.81	2.04	2.6	2.55	2.34	2.32	1.72	1.84	1.83	2.99	2	1.35	2.68
Quick Ratio	2.74	1.61	1.31	1.54	1.93	1.94	1.78	1.83	1.43	1.32	1.34	2.15	0.92	0.77	1.7
CFO/Avg Current Liab	1.76	1.46	1.37	1.48	1.63	1.53	1.34	1.86	1.74	0.98	0.91	0.37	0.46	0.64	0.5
Common Equity/Total Assets	71	68.72	72.66	75.51	48.05	53.07	53.33	51.56	48.99	43.46	45.63	54.56	55.13	59.6	62.01
Long-Term Debt/Equity (%)	16.51	9.87	6.87	5.37	69.56	53.7	47.11	45.55	36.52	73.26	60.26	49.4	48.57	29.2	36.03
Long-Term Debt/Capital (%)	14.16	8.48	6.43	5.09	41.01	34.93	32.02	31.3	24.72	42.28	35.58	33.07	32.47	20.91	26.48
Long-Term Debt/Total Assets (%)	11.72	6.79	4.99	4.05	33.44	28.47	25.09	23.47	17.89	31.8	27.66	26.94	26.78	17.4	22.34
Total Debt/Equity (%)	16.56	16.38	6.91	5.39	69.61	53.74	47.14	45.55	47.74	73.26	69.38	49.4	49.58	39.66	36.03
Total Debt/Capital (%)	14.2	14.08	6.47	5.12	41.04	34.95	32.04	31.3	32.31	42.28	40.96	33.07	33.15	28.4	26.48
Total Debt/Total Assets (%)	11.76	11.26	5.02	4.08	33.46	28.49	25.11	23.47	23.38	31.8	31.84	26.94	27.34	23.64	22.34
CFO/Total Liabilities	65.88	59.37	72.32	84.04	38.69	42.68	41.17	50.48	50.94	30.36	28.18	12.4	12.84	25.37	19.71
CFO/CapEx	8.31	7.39	0.67	9.31	5.95	6.3	2.32	6.98	10.57	7.67	12.34	5.69	4.97	7.99	9.37
Altman's Z-Score	- -	- -	15.36	17.39	7.56	7	7.51	6.46	5.91	4.91	4.39	5.14	5.53	5.06	5.27

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	8.49	8.68	9.17	9.17	7.6	6.97	6.04	5.6	5.8	5.6	5.12	4.96	4.64	4.88	5.3
Days Sales Outstanding	43.01	42.06	39.79	39.81	48.05	52.34	60.39	65.18	62.91	65.13	71.28	73.52	78.61	74.86	68.93
Inventory Turnover	1.52	1.41	1.55	1.6	1.46	1.56	1.71	1.98	2.26	1.93	1.74	1.69	1.31	0.93	1.04
Days Inventory Outstanding	240.81	259.02	235.41	228.01	249.74	233.88	213.21	184.14	161.85	189.33	209.35	215.95	278.92	394	351.35
Accounts Payable Turnover	2.89	3.41	5.05	5.86	5.36	5.8	4.53	4.81	4.06	4.2	4.58	4.2	8.31	5.42	4.93
Accounts Payable Turnover Days	126.23	106.99	72.35	62.28	68.15	62.93	80.49	75.83	89.9	86.92	79.64	86.84	43.94	67.31	73.99
Cash Conversion Cycle	157.59	194.1	202.85	205.54	229.63	223.29	193.11	173.49	134.86	167.54	200.99	202.63	313.58	401.54	346.29
Inventory to Cash Days	-197.79	-216.96	-195.63	-188.2	-201.69	-181.54	-152.82	-118.95	-98.94	-124.21	-138.07	-142.44	-200.31	-319.14	-282.42
Inventories	327	447	659	804	893	1,002	903	930	804	1,069	1,352	1,344	2,527	2,461	2,168
Raw Materials	84	102	115	128	- -	- -	- -	- -	170	315	350	413	- -	- -	- -
Work In Process	169	245	435	512	- -	- -	- -	- -	460	545	814	752	- -	- -	- -
Finished Goods	74	101	109	164	- -	- -	- -	- -	175	209	188	200	- -	- -	- -
Other Inventory	- -	- -	- -	- -	893	1,002	903	930	- -	- -	- -	- -	2,527	2,461	2,168

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	- -	- -	60,380	75,175	62,253	58,366	67,778	56,057	53,130	38,193	34,952	39,996	37,824	21,624	25,633
- Cash & Cash Equivalents	515	571	603	1,205	1,308	2,327	1,574	1,225	2,914	1,331	2,261	3,419	1,050	2,375	3,009
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1	2	1	5	2	-11	-15	-8	-4	-14	64	-9	- -	- -	- -
+ Total Debt	1,064	1,141	596	583	6,526	6,517	5,938	5,937	6,368	7,828	7,604	6,614	7,338	6,630	6,577
Enterprise Value	- -	- -	59,754	73,918	65,353	59,977	70,012	58,448	55,017	43,397	38,816	41,708	44,112	25,879	28,395
Total Capital	7,491	8,105	9,217	11,397	15,901	18,646	18,536	18,968	19,707	18,514	18,563	20,002	22,138	23,346	24,834
Total Debt/Capital (%)	14.2	14.08	6.47	5.12	41.04	34.95	32.04	31.3	32.31	42.28	40.96	33.07	33.15	28.4	26.48
Total Debt / EV	- -	- -	0.01	0.01	0.1	0.11	0.08	0.1	0.12	0.18	0.2	0.16	0.17	0.26	0.23
EV/Sales	- -	- -	8.62	7.62	6.07	5.24	5.7	4.34	3.83	3.23	3.53	4.1	4.48	2.67	2.87
EV/EBITDA	- -	- -	19.61	15.86	11.9	10.28	10.89	8.94	7.33	8.67	11.66	9.09	20.97	9.22	11.35
EV/EBIT	- -	- -	23.75	18.61	13.36	11.64	13.1	9.93	7.81	9.54	13.66	10.24	27.43	12.12	16.48
EV/Cash Flow to Firm	- -	- -	25.22	24.94	16.37	12.54	14.95	9.22	7.6	9.84	9.99	26.27	24.95	8.38	11.7
EV/Free Cash Flow to Firm	- -	- -	- -	27.91	19.61	14.79	25.75	10.72	8.38	11.25	10.81	31.03	30.28	9.48	12.96
Diluted Market Cap	- -	- -	60,885	76,013	65,841	59,122	68,259	58,360	57,155	40,423	35,570	40,551	38,007	21,650	25,686
Diluted Enterprise Value	- -	- -	60,258	74,756	68,941	60,733	70,493	60,750	59,043	45,627	39,434	42,263	44,295	25,906	28,447
EV per Share	- -	- -	252.84	315.13	298.96	277.67	331.03	296.39	315.83	284.75	264.06	289.64	304.43	177.59	193.42
TTM Sales	5,049	5,516	6,932	9,703	10,764	11,449	12,274	13,453	14,378	13,445	10,982	10,173	9,836	9,676	9,891
TTM EBITDA	2,084	2,221	3,047	4,661	5,491	5,834	6,427	6,539	7,507	5,007	3,328	4,590	2,103	2,808	2,503
TTM Operating Income	1,780	1,838	2,490	3,917	5,015	5,654	5,529	6,001	7,036	4,446	2,808	2,902	1,848	2,280	2,469
TTM Cash Flow to Firm	1,752	1,907	2,369	2,964	3,992	4,782	4,682	6,340	7,236	4,409	3,886	1,587	1,768	3,090	2,427
TTM Free Cash Flow to Firm	1,544	1,653	-1,140	2,648	3,333	4,054	2,719	5,454	6,566	3,857	3,591	1,344	1,457	2,730	2,191

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	- -	- -	-52.31	28.95	20.19	15.32	26.37	11.01	8.92	10.99	10.63	35.54	30.75	8.61	13.04
EV/EBIT	- -	- -	23.75	18.61	13.36	11.64	13.1	9.93	7.81	9.54	13.66	10.24	27.43	12.12	16.48
Enterprise Value	- -	- -	59,754	73,918	65,353	59,977	70,012	58,448	55,017	43,397	38,816	41,708	44,112	25,879	28,395
Low Price	- -	- -	182.17	253.88	240.74	211.31	244.74	256.7	215.19	234.42	228	191.69	219.02	148.39	125.7
EV/Sales	- -	- -	8.62	7.62	6.07	5.24	5.7	4.34	3.83	3.23	3.53	4.1	4.48	2.67	2.87
EV/EBITDA	- -	- -	19.61	15.86	11.9	10.28	10.89	8.94	7.33	8.67	11.66	9.09	20.97	9.22	11.35
Price/Earnings	- -	- -	32.5	25.81	18.52	15.94	26.83	13.15	9.69	10.08	22.78	13.25	32.53	13.24	19.79
Price/Earnings Average	- -	- -	28.8	23.45	20.94	15.42	24.12	14.64	8.48	11.49	28.23	10.82	34.11	18.02	16.64
Price/Earnings High	- -	- -	34.57	26.57	28.41	17.98	29.44	18.16	10.78	14.31	40.51	14.34	38.69	23.28	20.68
Price/Earnings Low	- -	- -	23.18	20.45	15.66	12.46	20.49	11.87	6.84	9.43	21.85	9.14	27.3	13.24	14.24
Price/Book Value	- -	- -	7	6.95	6.64	4.81	5.37	4.3	3.98	3.57	3.21	2.99	2.56	1.29	1.4
Price/Book Value Average	- -	- -	6.21	6.32	7.51	4.65	4.83	4.79	3.48	4.07	3.97	2.44	2.68	1.76	1.18
Price/Book Value High	- -	- -	7.45	7.16	10.19	5.42	5.9	5.94	4.43	5.07	5.7	3.23	3.04	2.28	1.47
Price/Book Value Low	- -	- -	4.99	5.51	5.61	3.76	4.1	3.88	2.81	3.34	3.08	2.06	2.14	1.29	1.01
Price/Tangible Book Value	- -	- -	20.73	14.97	23.73	12.52	16.53	13.31	13.09	20.6	12	6.9	174.14	39.61	9.91
Price/Tangible Book Value Average	- -	- -	18.37	13.6	26.82	12.11	14.85	14.81	11.46	23.49	14.86	5.63	182.6	53.92	8.33
Price/Tangible Book Value High	- -	- -	22.05	15.41	36.39	14.12	18.13	18.38	14.56	29.25	21.33	7.47	207.11	69.66	10.35
Price/Tangible Book Value Low	- -	- -	14.78	11.86	20.06	9.79	12.62	12.01	9.24	19.27	11.5	4.76	146.12	39.61	7.13
Price/Sales	- -	- -	8.73	7.81	6.1	5.15	5.55	4.33	3.97	3	3.23	3.97	3.84	2.23	2.59
Price/Sales Average	- -	- -	7.74	7.09	6.9	4.99	4.99	4.82	3.47	3.42	4	3.24	4.03	3.04	2.18
Price/Sales High	- -	- -	9.29	8.04	9.36	5.82	6.09	5.98	4.42	4.26	5.74	4.29	4.57	3.93	2.7
Price/Sales Low	- -	- -	6.23	6.18	5.16	4.03	4.24	3.91	2.8	2.81	3.1	2.74	3.22	2.23	1.86
Price/Cash Flow	- -	- -	25.81	25.75	16.76	12.86	14.97	9.41	8.06	9.53	9.74	29.15	24.41	7.51	11.6
Price/Cash Flow Average	- -	- -	22.87	23.39	18.95	12.45	13.45	10.48	7.05	10.87	12.07	23.82	25.6	10.23	9.76
Price/Cash Flow High	- -	- -	27.45	26.5	25.71	14.51	16.43	13.01	8.97	13.54	17.32	31.56	29.03	13.21	12.13
Price/Cash Flow Low	- -	- -	18.4	20.4	14.17	10.06	11.43	8.5	5.69	8.92	9.34	20.12	20.48	7.51	8.35
Price/Free Cash Flow Average	- -	- -	-46.36	26.29	22.83	14.82	23.7	12.26	7.8	12.53	13.18	29.03	32.25	11.72	10.97
Price/Free Cash Flow High	- -	- -	-55.63	29.79	30.97	17.28	28.94	15.21	9.92	15.61	18.91	38.47	36.58	15.14	13.63
Price/Free Cash Flow Low	- -	- -	-37.3	22.93	17.07	11.98	20.14	9.94	6.29	10.28	10.2	24.53	25.8	8.61	9.39
EV/Sales Average	- -	- -	7.63	6.91	6.83	5.07	5.15	4.82	3.36	3.63	4.3	3.38	4.67	3.48	2.46
EV/Sales High	- -	- -	9.17	7.84	9.16	5.89	6.24	5.94	4.24	4.42	6.01	4.42	5.21	4.37	2.99
EV/Sales Low	- -	- -	6.12	6.01	5.18	4.13	4.4	3.94	2.74	3.04	3.4	2.88	3.87	2.67	2.14
EV/EBITDA Average	- -	- -	17.35	14.38	13.38	9.95	9.83	9.91	6.44	9.74	14.17	7.49	21.85	12	9.72
EV/EBITDA High	- -	- -	20.87	16.33	17.95	11.56	11.92	12.21	8.12	11.87	19.83	9.81	24.38	15.06	11.81
EV/EBITDA Low	- -	- -	13.92	12.51	10.15	8.1	8.4	8.11	5.24	8.17	11.23	6.39	18.08	9.22	8.48
EV/EBIT Average	- -	- -	21.02	16.87	15.02	11.27	11.81	11.01	6.87	10.72	16.61	8.44	28.57	15.78	14.12
EV/EBIT High	- -	- -	25.28	19.16	20.15	13.09	14.33	13.56	8.66	13.06	23.24	11.05	31.88	19.81	17.16
EV/EBIT Low	- -	- -	16.87	14.67	11.39	9.17	10.1	9	5.59	9	13.16	7.2	23.64	12.12	12.32
Last Price	- -	- -	255.49	320.49	284.78	270.21	320.46	284.26	304.99	250.61	237.77	277.75	261.04	148.39	174.61
High Price	- -	- -	271.71	329.88	436.76	304.83	351.61	392.77	339.28	355.84	422.79	300.68	310.44	260.98	182.49
Enterprise Value Average	- -	- -	52,882	67,029	73,480	58,073	63,150	64,808	48,374	48,760	47,172	34,386	45,949	33,692	24,319
Enterprise Value High	- -	- -	63,587	76,120	98,576	67,454	76,600	79,845	60,990	59,435	66,014	45,009	51,272	42,285	29,551
Enterprise Value Low	- -	- -	42,426	58,294	55,726	47,253	53,997	53,011	39,373	40,930	37,380	29,315	38,025	25,879	21,214

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	242	237	236	235	219	216	212	197	174	152	147	144	145	146	147
Diluted Weighted Avg Shares	245	240	238	237	231	219	213	205	187	161	150	146	146	146	147
Basic Weighted Avg Shares	242	238	237	236	231	218	213	205	187	161	149	145	145	146	147
Revenue per Share	20.83	23.18	29.26	41.05	46.66	52.42	57.73	65.66	76.85	83.56	73.65	70.02	67.97	66.46	67.51
EBITDA per Share	8.6	9.34	12.86	19.72	23.8	26.71	30.23	31.91	40.12	31.12	22.32	31.59	14.53	19.29	17.08
Operating Income per Share	7.34	7.73	10.51	16.57	21.74	25.89	26.01	29.29	37.6	27.63	18.83	19.97	12.77	15.66	16.85
Basic EPS, GAAP	5.09	5.8	7.86	12.42	15.37	16.95	11.94	21.62	31.47	24.86	10.44	20.97	8.02	11.21	8.83
Basic EPS from Cont Ops	5.23	5.8	7.86	12.45	15.58	16.92	12.56	21.84	31.47	25.24	11.59	20.38	8.03	11.21	8.83
Diluted EPS, GAAP	5.04	5.76	7.81	12.37	15.34	16.92	11.92	21.58	31.42	24.8	10.4	20.87	7.97	11.19	8.79
Diluted EPS from Cont Ops	5.17	5.76	7.82	12.4	15.54	16.89	12.54	21.79	31.42	25.17	11.55	20.28	7.98	11.19	8.79
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	7.13	7.9	9.9	12.45	16.99	21	21.41	30.2	37.83	26.29	24.41	9.53	10.69	19.75	15.05
Free Cash Flow per Basic Share	6.27	6.83	-4.91	11.11	14.14	17.67	12.17	25.87	34.25	22.86	22.43	7.85	8.54	17.28	13.44
Cash & Equivalents per Share	6.98	7.21	5.17	7.87	15.68	22.66	17.44	17.94	25.69	17.13	25.87	33.98	7.25	16.3	25.99
Book Value per Share	26.54	29.43	36.48	46.08	42.88	56.2	59.63	66.12	76.6	70.21	74.12	93.04	102.14	114.71	124.37
Tangible Book Value per Share	15.16	17.45	12.32	21.4	12	21.59	19.39	21.37	23.3	12.16	19.82	40.27	1.5	3.75	17.62