Mastercard Incorporated Financial Ratios — MA 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	- -	- -	11.9	11.03	10.48	9.08	10.3	10.04	11.95	11.78	11.6	11.34	12.12	12.46	12.2

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	- -	- -	94,434	101,761	109,471	110,083	160,246	191,258	296,269	354,628	353,330	331,188	400,116	480,679	513,364
- 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	- -	- -	88,150	96,914	106,035	106,956	157,988	189,308	297,218	356,830	359,437	337,882	406,685	490,163	521,475
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	- -	- -	10.61	10.27	10.97	9.93	12.64	12.66	17.6	23.32	19.03	15.19	16.2	17.4	15.9
EV/EBITDA	- -	- -	18.51	17.86	19.48	17.44	22.38	24.46	29.18	41.2	33.26	25.96	27.47	29.74	26.02
EV/EBIT	- -	- -	19.58	18.98	20.88	18.57	23.86	26	30.76	44.16	35.65	27.55	29.03	31.46	27.6
EV/Cash Flow to Firm	- -	- -	21.27	28.16	25.56	22.73	27.45	29.7	35.51	47.34	36.58	29.14	32.66	31.98	28.61
EV/Free Cash Flow to Firm	- -	- -	22.09	29.67	26.7	23.82	28.95	31.32	37.4	49.57	38.16	30.3	33.66	33	29.39
Diluted Market Cap	- -	- -	99,872	103,212	111,531	112,119	162,983	194,226	300,558	358,385	357,656	336,384	405,257	487,836	520,233
Diluted Enterprise Value	- -	- -	93,588	98,365	108,095	108,992	160,725	192,276	301,507	360,587	363,763	343,078	411,826	497,320	528,344
EV per Share	- -	- -	76.73	84.09	95.01	98.94	149.89	183.62	295.03	358.46	366.77	353.43	435.42	536.64	583.28
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	- -	- -	25.09	31.93	28.42	25.35	30.38	32.96	38.73	52.05	39.49	31.28	34.91	34.1	30.32
EV/EBIT	- -	- -	19.58	18.98	20.88	18.57	23.86	26	30.76	44.16	35.65	27.55	29.03	31.46	27.6
Enterprise Value	- -	- -	88,150	96,914	106,035	106,956	157,988	189,308	297,218	356,830	359,437	337,882	406,685	490,163	521,475
Low Price	- -	- -	51.85	70.63	83.38	82.19	103.72	151.33	189.36	197.15	306.55	285.2	344.32	416.05	474.57
EV/Sales	- -	- -	10.61	10.27	10.97	9.93	12.64	12.66	17.6	23.32	19.03	15.19	16.2	17.4	15.9
EV/EBITDA	- -	- -	18.51	17.86	19.48	17.44	22.38	24.46	29.18	41.2	33.26	25.96	27.47	29.74	26.02
Price/Earnings	- -	- -	31.95	28.44	29.21	27.55	41.44	32.96	36.84	55.68	41.01	33.77	36.12	37.81	34.72
Price/Earnings Average	- -	- -	26.97	25.12	27.76	26.11	34.65	34.21	32.31	48.54	40.71	33.27	32.55	34.05	33.76
Price/Earnings High	- -	- -	31.95	263.63	31.22	29.44	43.5	39.92	37.96	57.46	45.56	38.92	36.37	38.65	36.29
Price/Earnings Low	- -	- -	20.15	22.75	24.83	22.23	28.27	26.89	23.72	30.81	34.87	27.8	29.03	29.89	28.69
Price/Book Value	- -	- -	12.62	14.99	18.16	19.46	29.31	35.45	50.27	55.49	48.32	52.59	57.75	74.12	66.35
Price/Book Value Average	- -	- -	10.65	13.24	17.26	18.45	24.5	36.79	44.09	48.38	47.98	51.81	52.04	66.76	64.52
Price/Book Value High	- -	- -	12.62	138.93	19.41	20.8	30.76	42.94	51.79	57.27	53.69	60.6	58.14	75.77	69.36
Price/Book Value Low	- -	- -	7.96	11.99	15.44	15.71	19.99	28.92	32.37	30.71	41.09	43.29	46.41	58.6	54.84
Price/Tangible Book Value	- -	- -	16.6	22.35	32.83	34.64	122.05	127.51	651.14	-1,101.33	-87.87	-65.16	-83.06	-58.9	-69.59
Price/Tangible Book Value Average	- -	- -	14.01	19.74	31.2	32.84	102.05	132.33	571.03	-960.16	-87.25	-64.19	-74.86	-53.05	-67.67
Price/Tangible Book Value High	- -	- -	16.6	207.15	35.09	37.01	128.12	154.45	670.83	-1,136.59	-97.64	-75.09	-83.63	-60.21	-72.75
Price/Tangible Book Value Low	- -	- -	10.47	17.87	27.91	27.96	83.26	104.01	419.27	-609.48	-74.71	-53.64	-66.76	-46.57	-57.51
Price/Sales	- -	- -	11.98	10.89	11.51	10.38	12.98	12.92	17.72	23.33	18.86	15.08	16.11	17.28	15.85
Price/Sales Average	- -	- -	10.11	9.62	10.93	9.84	10.85	13.41	15.54	20.34	18.73	14.86	14.52	15.56	15.41
Price/Sales High	- -	- -	11.98	101	12.3	11.09	13.63	15.65	18.25	24.08	20.96	17.38	16.22	17.67	16.57
Price/Sales Low	- -	- -	7.55	8.72	9.78	8.37	8.86	10.54	11.41	12.91	16.04	12.42	12.95	13.66	13.1
Price/Cash Flow	- -	- -	24.07	30.19	27.12	24.11	28.64	31.03	36.55	49.41	37.64	29.95	33.76	32.94	29.45
Price/Cash Flow Average	- -	- -	20.33	26.66	25.77	22.86	23.95	32.21	32.05	43.08	37.38	29.51	30.42	29.66	28.63
Price/Cash Flow High	- -	- -	24.07	279.88	28.99	25.77	30.07	37.59	37.66	51	41.83	34.52	33.99	33.67	30.78
Price/Cash Flow Low	- -	- -	15.19	24.15	23.06	19.46	19.54	25.31	23.53	27.35	32.01	24.66	27.13	26.04	24.34
Price/Free Cash Flow Average	- -	- -	21.19	28.2	27.01	24.04	25.41	34.21	33.96	45.38	39.21	30.82	31.46	30.71	29.48
Price/Free Cash Flow High	- -	- -	25.09	296.05	30.37	27.09	31.9	39.92	39.9	53.72	43.88	36.05	35.15	34.86	31.69
Price/Free Cash Flow Low	- -	- -	15.83	25.55	24.16	20.46	20.73	26.89	24.94	28.81	33.58	25.75	28.06	26.96	25.06
EV/Sales Average	- -	- -	8.84	9.01	10.4	9.39	10.54	13.15	15.45	20.35	18.9	14.97	14.63	15.71	15.47
EV/Sales High	- -	- -	10.61	99.41	11.75	10.63	13.28	15.37	18.14	24.06	21.11	17.46	16.31	17.78	16.61
EV/Sales Low	- -	- -	6.41	8.11	9.27	7.95	8.57	10.31	11.36	12.97	16.23	12.56	13.08	13.83	13.19
EV/EBITDA Average	- -	- -	15.43	15.67	18.48	16.5	18.66	25.39	25.6	35.95	33.02	25.58	24.8	26.85	25.32
EV/EBITDA High	- -	- -	18.51	172.93	20.86	18.67	23.51	29.68	30.06	42.51	36.89	29.84	27.65	30.39	27.18
EV/EBITDA Low	- -	- -	11.19	14.11	16.46	13.97	15.17	19.9	18.82	22.91	28.36	21.47	22.16	23.64	21.58
EV/EBIT Average	- -	- -	16.31	16.65	19.81	17.57	19.89	26.99	26.98	38.53	35.4	27.15	26.21	28.39	26.85
EV/EBIT High	- -	- -	19.58	183.81	22.36	19.88	25.06	31.55	31.68	45.56	39.55	31.67	29.23	32.14	28.83
EV/EBIT Low	- -	- -	11.83	14.99	17.65	14.88	16.17	21.16	19.84	24.56	30.4	22.78	23.43	25	22.88
Last Price	- -	- -	82.2	88.29	98.09	101.83	152.04	185.51	294.09	356.25	360.54	346.43	428.39	526.25	574.21
High Price	- -	- -	82.2	818.49	104.82	108.81	159.6	224.7	302.98	367.65	400.6	399.23	431.33	537.94	600.25
Enterprise Value Average	- -	- -	73,452	85,028	100,578	101,225	131,732	196,548	260,767	311,374	356,929	332,962	367,161	442,397	507,333
Enterprise Value High	- -	- -	88,150	938,516	113,548	114,501	165,962	229,718	306,176	368,185	398,700	388,355	409,436	500,840	544,755
Enterprise Value Low	- -	- -	53,284	76,555	89,618	85,716	107,068	154,070	191,715	198,456	306,530	279,348	328,163	389,503	432,390

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	1,269	1,232	1,149	1,153	1,116	1,081	1,054	1,031	1,007	995	980	956	934	913	894
Diluted Weighted Avg Shares	1,280	1,260	1,215	1,169	1,137	1,101	1,072	1,047	1,022	1,006	992	971	946	927	906
Basic Weighted Avg Shares	1,280	1,250	1,211	1,165	1,134	1,098	1,067	1,041	1,017	1,002	988	968	944	925	905
Revenue per Share	5.25	5.91	6.86	8.1	8.52	9.81	11.71	14.36	16.6	15.27	19.11	22.97	26.59	30.45	36.23
EBITDA per Share	2.27	3.33	3.93	4.66	4.8	5.59	6.62	7.44	10.02	8.64	10.94	13.44	15.69	17.82	22.14
Operating Income per Share	2.71	3.19	3.8	4.36	4.46	5.38	6.32	8.04	9.53	8.15	10.35	13.14	15.5	17.65	21.56
Basic EPS, GAAP	1.49	2.21	2.57	3.1	3.36	3.7	3.67	5.63	7.98	6.4	8.79	10.26	11.86	13.92	16.54
Basic EPS from Cont Ops	1.49	2.21	2.57	3.1	3.36	3.7	3.67	5.63	7.98	6.4	8.79	10.26	11.86	13.92	16.54
Diluted EPS, GAAP	1.49	2.19	2.56	3.09	3.35	3.69	3.65	5.6	7.94	6.37	8.76	10.23	11.83	13.89	16.52
Diluted EPS from Cont Ops	1.49	2.19	2.56	3.09	3.35	3.69	3.65	5.6	7.94	6.37	8.76	10.23	11.83	13.89	16.52
Dividend per Share	0.06	0.11	0.21	0.44	0.64	0.76	0.88	1	1.32	1.6	1.76	1.97	2.29	2.65	3.05
Cash Flow per Share	2.1	2.36	3.41	2.92	3.62	4.22	5.31	5.98	8.05	7.21	9.58	11.57	12.69	15.98	19.5
Free Cash Flow per Basic Share	1.96	2.28	3.29	2.77	3.46	4.03	5.03	5.66	7.63	6.87	9.17	11.11	12.3	15.47	18.96
Cash & Equivalents per Share	3.9	4.06	5.48	5.53	6.04	7.71	7.38	8.13	7.62	10.64	8.06	7.75	9.83	9.6	12.19
Book Value per Share	4.63	5.61	6.51	5.89	5.4	5.23	5.19	5.23	5.85	6.42	7.46	6.59	7.42	7.1	8.65
Tangible Book Value per Share	3.3	4.18	4.95	3.95	2.99	2.94	1.25	1.45	0.45	-0.32	-4.1	-5.32	-5.16	-8.93	-8.25