Paychex, Inc. Financial Ratios — PAYX Stock

Profitability (USD)

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Return on Common Equity (%)	35.35	33.69	35.35	37.89	40.94	42.74	46.11	41.57	40.66	38.31	46.17	47.35	46.35	41.8	44.77
Return on Assets (%)	9.23	9	10.01	10.51	11.73	12.45	13.48	12.47	12.75	12.35	14.77	15.43	16.15	12.3	10.75
Return on Capital (%)	35.35	33.69	35.38	37.91	40.98	42.82	46.25	36.22	31.73	29.9	36.38	38.08	38.09	25.15	22.47
Return on Invested Capital (%)	34.8	33.25	35.03	37.62	40.84	42.67	45.94	35.93	31.26	29.62	36.12	37.31	36.88	24.42	21.83
Gross Margin (%)	69.95	71.14	70.92	70.51	70.96	70.84	69.86	68.78	68.3	68.66	70.59	70.98	71.97	72.35	74.29
EBITDA Margin (%)	42.68	43.12	43.18	42.35	42.74	43.79	42.32	41.16	41.34	40.74	44.06	44.13	44.53	43.38	45.35
Operating Margin (%)	38.29	38.9	39.01	38.46	38.84	39.77	38.24	36.35	36.15	36.01	39.9	40.6	41.19	39.62	38.55
Incremental Operating Margin (%)	46.39	52.8	40.43	32.13	43.81	53.36	16.73	20.21	33.28	1.23	68.35	48.84	51.99	11.45	32.2
Pretax Margin (%)	38.58	39.18	39.23	38.69	39	39.93	38.49	36.26	35.57	35.35	39.56	40.91	42.02	39.05	35.49
Profit Margin (%)	24.58	24.46	24.91	24.63	25.64	26.21	29.43	27.42	27.18	27.05	30.2	31.1	32.03	29.74	27.03
Net Income to Common Margin (%)	24.58	24.46	24.91	24.63	25.64	26.21	29.43	27.42	27.18	27.05	30.2	31.1	32.03	29.74	27.03
Effective Tax Rate (%)	36.3	37.57	36.49	36.33	34.25	34.37	23.54	24.39	23.59	23.48	23.67	23.97	23.79	23.83	23.83
Dvd Payout Ratio (%)	84.03	83.78	81.37	81.76	80.14	80.15	74.41	79.93	80.99	82.8	71.77	75.45	77.81	87.4	90.31
Sustainable Growth Rate (%)	5.64	5.46	6.58	6.91	8.13	8.48	11.8	8.34	7.73	6.59	13.03	11.62	10.28	5.27	4.34

Credit (USD)

Credit Ratios API ChatGPT

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Total Debt	- -	- -	- -	- -	- -	- -	- -	809	899	897	881	866	866	5,022	4,608
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	5	7	9	10	19	418	- -
LT Debt	- -	- -	- -	- -	- -	- -	- -	809	894	890	873	856	848	4,604	4,608
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	0.52	0.54	0.54	0.43	0.39	0.37	2.08	1.56
Net Debt/EBITDA	-0.11	-0.11	-0.14	-0.15	-0.1	-0.13	-0.25	0.08	-0.06	-0.12	0.21	-0.19	-0.28	1.38	1.17
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	0.59	0.62	0.61	0.48	0.43	0.4	2.27	1.84
Net Debt/EBIT	-0.13	-0.12	-0.16	-0.16	-0.11	-0.15	-0.28	0.09	-0.07	-0.13	0.24	-0.2	-0.3	1.51	1.38
EBITDA to Interest Expense	9,517	10,030	988.82	1,657.43	1,147	552.32	366.54	88.23	43.05	46.16	55.51	60.21	63.02	22.93	10.96
EBITDA-CapEx/Interest Expense	8,621	9,043	912.36	1,510.57	1,058.18	514.6	327.05	81.19	39.77	42.86	51.86	56.31	58.69	21.11	10.09
EBIT to Interest Expense	8,539	9,048	893.36	1,505.14	1,042.36	501.56	331.15	77.91	37.64	40.8	50.27	55.4	58.29	20.95	9.32
Interest Expense	- -	- -	1	1	1	3	4	18	39	36	37	37	37	105	270
Common Equity/Total Assets	24.76	28.78	27.9	27.61	29.68	28.61	29.77	30.19	32.53	31.95	32.02	33.12	36.61	24.92	23.09
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	30.9	32.13	30.18	28.28	24.49	22.3	111.53	123.38
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	23.61	24.28	23.14	22	19.63	18.16	50.31	55.23
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	9.33	10.45	9.64	9.06	8.11	8.16	27.79	28.49
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	30.9	32.31	30.43	28.56	24.78	22.79	121.66	123.38
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	23.61	24.42	23.33	22.22	19.86	18.56	54.89	55.23
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	9.33	10.51	9.72	9.15	8.21	8.34	30.32	28.49
Net Debt to Equity	-6.78	-6.05	-8.58	-9.52	-6.88	-9.44	-15.2	4.69	-3.71	-6.46	14.14	-11.84	-17.14	80.87	92.85
Net Debt/Capital (%)	-7.27	-6.44	-9.39	-10.52	-7.39	-10.43	-17.92	4.46	-3.72	-6.68	12.13	-13.18	-20.37	44.38	47.8
EBITDA	952	1,003	1,088	1,160	1,262	1,381	1,430	1,553	1,670	1,653	2,032	2,210	2,351	2,417	2,953
EBITDA-CapEx	862	904	1,004	1,057	1,164	1,287	1,276	1,429	1,543	1,534	1,898	2,067	2,189	2,225	2,718
Operating Income (Loss)	854	905	983	1,054	1,147	1,254	1,292	1,371	1,461	1,461	1,840	2,033	2,174	2,208	2,511

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Cash Ratio	0.07	0.12	0.12	0.12	0.08	0.07	0.08	0.15	0.21	0.21	0.23	0.27	0.28	0.24	0.16
Current Ratio	1.07	1.13	1.13	1.11	1.11	1.12	1.11	1.17	1.23	1.25	1.25	1.3	1.37	1.28	1.26
Quick Ratio	0.1	0.16	0.17	0.16	0.18	0.18	0.18	0.32	0.39	0.42	0.48	0.52	0.59	0.52	0.49
CFO/Avg Current Liab	0.17	0.15	0.2	0.2	0.23	0.21	0.25	0.25	0.31	0.27	0.31	0.31	0.34	0.31	0.37
Common Equity/Total Assets	24.76	28.78	27.9	27.61	29.68	28.61	29.77	30.19	32.53	31.95	32.02	33.12	36.61	24.92	23.09
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	30.9	32.13	30.18	28.28	24.49	22.3	111.53	123.38
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	23.61	24.28	23.14	22	19.63	18.16	50.31	55.23
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	9.33	10.45	9.64	9.06	8.11	8.16	27.79	28.49
Total Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	30.9	32.31	30.43	28.56	24.78	22.79	121.66	123.38
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	23.61	24.42	23.33	22.22	19.86	18.56	54.89	55.23
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	- -	- -	9.33	10.51	9.72	9.15	8.21	8.34	30.32	28.49
CFO/Total Liabilities	14.49	15.38	19.18	19.12	22.48	19.69	22.96	20.99	24.98	20.07	24.27	24.19	28.83	15.29	20.55
CFO/CapEx	7.89	6.84	10.47	8.71	10.42	10.18	8.29	10.27	11.35	10.64	11.88	11.93	11.76	9.91	10.88
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.92	5.77	5.29	6.24	4.28	3.52

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Accounts Receivable Turnover	14.69	16.87	17.81	16.81	10.09	6.88	7.66	9.49	10.04	8.43	7.08	6.27	5.46	4.66	4.59
Days Sales Outstanding	24.84	21.64	20.49	21.72	36.18	53.03	47.66	38.46	36.34	43.29	51.53	58.21	66.83	78.29	79.54
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

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,370	42,002	39,317	44,854	50,942	32,494
- Cash & Cash Equivalents	109	107	153	170	132	185	358	674	905	995	370	1,222	1,469	1,629	1,088
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	- -	- -	809	899	897	881	866	866	5,022	4,608
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,236	41,659	38,588	44,218	54,301	35,978
Total Capital	1,605	1,774	1,777	1,786	1,912	1,955	2,357	3,429	3,680	3,845	3,966	4,359	4,667	9,150	8,343
Total Debt/Capital (%)	- -	- -	- -	- -	- -	- -	- -	23.61	24.42	23.33	22.22	19.86	18.56	54.89	55.23
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.03	0.02	0.02	0.02	0.09	0.13
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.19	9.03	7.71	8.38	9.75	5.52
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.11	20.5	17.46	18.81	22.46	12.18
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.75	22.64	18.98	20.34	24.6	14.33
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	25.81	25.75	22.25	22.96	27.41	13.03
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	28.42	28.08	24.25	25.06	30.35	14.24
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,584	42,375	39,514	45,103	51,154	32,896
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,449	42,033	38,784	44,467	54,513	36,380
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	92.45	115.85	107.13	122.9	150.75	101.26
TTM Sales	2,230	2,326	2,519	2,740	2,952	3,153	3,378	3,773	4,041	4,057	4,612	5,007	5,278	5,572	6,512
TTM EBITDA	952	1,003	1,088	1,160	1,262	1,381	1,430	1,553	1,670	1,653	2,032	2,210	2,351	2,417	2,953
TTM Operating Income	854	905	983	1,054	1,147	1,254	1,292	1,371	1,461	1,461	1,840	2,033	2,174	2,208	2,511
TTM Cash Flow to Firm	707	675	882	896	1,019	962	1,279	1,285	1,471	1,288	1,618	1,734	1,926	1,981	2,762
TTM Free Cash Flow to Firm	617	577	797	793	921	868	1,125	1,161	1,344	1,169	1,484	1,591	1,765	1,789	2,527

Multiples (USD)

Valuation Multiples API ChatGPT

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	29.41	29.11	25.28	25.98	29.93	14.17
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.75	22.64	18.98	20.34	24.6	14.33
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,236	41,659	38,588	44,218	54,301	35,978
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	92.82	105.08	109.15	113.24	114.81	91.46
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.19	9.03	7.71	8.38	9.75	5.52
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.11	20.5	17.46	18.81	22.46	12.18
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	30.41	30.22	25.24	26.55	30.71	18.63
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	30.41	31.4	26.67	26	27.81	22.2
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	30.41	35.73	27.82	26.55	30.71	25.77
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	30.41	27.18	25.24	24.12	24.93	18.63
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.32	13.61	11.26	11.8	12.34	8.7
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.32	14.15	11.89	11.56	11.17	10.37
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.32	16.1	12.4	11.8	12.34	12.03
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.32	12.25	11.26	10.72	10.02	8.7
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	39.19	40.81	26.71	26.02	-21.83	-13.12
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	39.19	42.41	28.23	25.48	-19.77	-15.63
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	39.19	48.27	29.44	26.02	-21.83	-18.15
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	39.19	36.72	26.71	23.64	-17.72	-13.12
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.23	9.13	7.85	8.5	9.14	5.04
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.23	9.48	8.29	8.33	8.27	6
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.23	10.79	8.65	8.5	9.14	6.96
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.23	8.21	7.85	7.72	7.42	5.04
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.49	26.47	23.04	23.65	26.78	12.83
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.49	27.51	24.34	23.16	24.25	15.28
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.49	31.31	25.39	23.65	26.78	17.74
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.49	23.82	23.04	21.48	21.74	12.83
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	29.41	30.24	26.71	25.44	27.1	16.88
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	29.41	34.42	27.86	25.98	29.93	19.59
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	29.41	26.19	25.28	23.6	24.3	14.17
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.19	9.39	8.15	8.2	8.88	6.48
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.19	10.7	8.51	8.38	9.75	7.44
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.19	8.12	7.71	7.6	8.03	5.52
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.11	21.31	18.47	18.42	20.47	14.29
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.11	24.28	19.28	18.81	22.46	16.4
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.11	18.43	17.46	17.06	18.5	12.18
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.75	23.53	20.07	19.91	22.42	16.81
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.75	26.81	20.95	20.34	24.6	19.29
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.75	20.35	18.98	18.45	20.25	14.33
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	92.82	116.8	109.15	124.66	141.43	91.46
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	92.82	138.14	120.3	124.66	141.43	126.47
Enterprise Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,236	43,302	40,814	43,294	49,488	42,199
Enterprise Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,236	49,332	42,603	44,218	54,301	48,419
Enterprise Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	33,236	37,445	38,588	40,107	44,714	35,978

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	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	2026 Y
As of date	05/31/2012	05/31/2013	05/31/2014	05/31/2015	05/31/2016	05/31/2017	05/31/2018	05/31/2019	05/31/2020	05/31/2021	05/31/2022	05/31/2023	05/31/2024	05/31/2025	05/31/2026

Shares Outstanding	362	365	363	361	360	359	359	359	359	359	360	360	360	360	355
Diluted Weighted Avg Shares	363	364	366	364	362	362	361	361	361	362	363	362	362	362	360
Basic Weighted Avg Shares	362	363	364	363	360	359	359	359	358	360	360	360	360	360	359
Revenue per Share	6.16	6.4	6.92	7.56	8.19	8.77	9.42	10.51	11.28	11.28	12.8	13.9	14.66	15.48	18.16
EBITDA per Share	2.63	2.76	2.99	3.2	3.5	3.84	3.99	4.33	4.66	4.6	5.64	6.14	6.53	6.72	8.24
Operating Income per Share	2.36	2.49	2.7	2.91	3.18	3.49	3.6	3.82	4.08	4.06	5.11	5.65	6.04	6.13	7
Basic EPS, GAAP	1.51	1.57	1.72	1.86	2.1	2.3	2.77	2.88	3.07	3.05	3.87	4.32	4.7	4.6	4.91
Basic EPS from Cont Ops	1.51	1.57	1.72	1.86	2.1	2.3	2.77	2.88	3.07	3.05	3.87	4.32	4.7	4.6	4.91
Diluted EPS, GAAP	1.51	1.56	1.72	1.85	2.09	2.28	2.75	2.86	3.04	3.03	3.84	4.3	4.67	4.58	4.89
Diluted EPS from Cont Ops	1.51	1.56	1.72	1.85	2.09	2.28	2.75	2.86	3.04	3.03	3.84	4.3	4.67	4.58	4.89
Dividend per Share	1.27	1.31	1.4	1.52	1.68	1.84	2.06	2.3	2.48	2.53	2.77	3.26	3.65	4.02	4.43
Cash Flow per Share	1.95	1.86	2.42	2.47	2.83	2.67	3.56	3.54	4.02	3.5	4.41	4.74	5.27	5.28	7.13
Free Cash Flow per Basic Share	1.7	1.59	2.19	2.19	2.55	2.41	3.13	3.2	3.67	3.18	4.04	4.34	4.82	4.75	6.47
Cash & Equivalents per Share	0.87	1.38	1.52	1.49	0.98	0.9	1.18	1.98	2.6	2.87	3.4	4.43	4.18	4.62	3.16
Book Value per Share	4.43	4.86	4.9	4.95	5.31	5.45	6.57	7.3	7.76	8.2	8.58	9.7	10.56	11.46	10.51
Tangible Book Value per Share	2.85	3.27	3.3	3.3	3.29	3.45	3.91	1.22	1.84	2.37	2.86	4.09	4.79	-6.48	-6.97