United Parcel Service, Inc. Financial Ratios — UPS 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 (%)	50.67	13.81	78.58	70.39	210.11	238.05	701.22	238.66	141.22	68.45	172.9	67.85	36.17	33.99	33.83
Return on Assets (%)	11.14	2.19	11.65	8.46	13.14	8.7	11.41	10.02	8.23	2.23	19.56	16.44	9.45	8.21	7.78
Return on Capital (%)	21.73	6.32	26.43	21.54	34.06	22.06	24.95	20.64	17.31	6.19	39.37	29.11	16.77	14.94	14.59
Return on Invested Capital (%)	21.64	6.25	26.55	21.62	34.27	31.03	24.87	21.97	21.48	18.77	29.28	24.62	16.42	15.27	14.08
Gross Margin (%)	19.28	10.33	20.4	16.32	21.08	19.98	18.9	17.38	18.51	18.06	20.85	20.94	18.95	17.96	18.08
EBITDA Margin (%)	14.8	5.91	16.06	11.83	16.71	16.09	14.73	12.85	13.71	12.27	16.2	16.23	13.75	13.26	13.1
Operating Margin (%)	11.45	2.48	12.69	8.53	13.14	12.48	11.31	9.77	10.52	9.08	13.17	13.05	10.05	9.3	8.87
Incremental Operating Margin (%)	12.33	- -	434.1	- -	2,061.07	0.62	- -	- -	34.66	- -	40.49	9.31	42.14	- -	24.95
Pretax Margin (%)	10.88	1.8	12.04	7.96	12.58	8.31	10.72	8.38	7.63	2.18	17.06	14.78	9.43	8.17	8.08
Profit Margin (%)	7.16	1.49	7.89	5.21	8.3	5.55	7.37	6.67	5.99	1.59	13.25	11.51	7.37	6.35	6.28
Net Income to Common Margin (%)	7.16	1.49	7.89	5.21	8.3	5.55	7.37	6.67	5.99	1.59	13.25	11.51	7.37	6.35	6.28
Effective Tax Rate (%)	34.14	17.15	34.49	34.61	34.02	33.18	31.27	20.4	21.44	27.17	22.33	22.1	21.75	22.31	22.22
Dvd Payout Ratio (%)	52.5	263.94	51.69	78.03	52.13	77.24	56.49	62.85	71.94	251.23	26.66	44.28	80.08	93.38	96.88
Sustainable Growth Rate (%)	24.07	-22.64	37.96	15.46	100.59	54.19	305.08	88.67	39.63	-103.52	126.8	37.8	7.2	2.25	1.06

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	11,128	12,870	10,872	10,779	14,334	16,075	24,289	22,736	28,167	27,754	25,528	23,521	26,729	25,652	28,590
ST Debt	33	1,781	48	923	3,018	3,681	4,011	2,805	3,958	3,183	2,711	2,962	4,057	2,571	1,371
LT Debt	11,095	11,089	10,824	9,856	11,316	12,394	20,278	19,931	24,209	24,571	22,817	20,559	22,672	23,081	27,219
Total Debt/EBITDA	1.42	4.02	1.22	1.56	1.47	1.62	2.48	2.46	2.77	2.67	1.62	1.44	2.14	2.12	2.46
Net Debt/EBITDA	1.03	1.73	0.7	1.23	1.19	1.27	2.14	2.01	1.97	1.81	0.74	0.86	1.53	1.26	1.57
Total Debt/EBIT	1.83	9.58	1.55	2.17	1.87	2.09	3.23	3.24	3.61	3.61	1.99	1.8	2.92	3.03	3.63
Net Debt/EBIT	1.33	4.13	0.88	1.71	1.51	1.64	2.79	2.64	2.56	2.44	0.91	1.07	2.09	1.79	2.32
EBITDA to Interest Expense	22.59	8.15	23.42	19.52	28.6	26.02	21.66	15.26	15.56	14.81	22.71	23.13	15.89	13.95	11.42
EBITDA-CapEx/Interest Expense	22.59	8.15	23.42	19.52	28.6	26.02	21.66	15.26	15.56	14.81	22.71	23.13	15.89	13.95	11.42
EBIT to Interest Expense	17.47	3.42	18.51	14.07	22.49	20.18	16.62	11.61	11.94	10.96	18.46	18.6	11.61	9.78	7.74
Interest Expense	348	393	380	353	341	381	453	605	653	701	694	704	787	866	1,017
Common Equity/Total Assets	20.27	11.97	17.88	6.04	6.45	1	2.18	6.04	5.65	1.05	20.54	27.82	24.42	23.86	22.2
Long-Term Debt/Equity (%)	156.09	234.29	166.83	456.72	454.28	2,889.04	1,980.27	656.27	737.4	3,672.8	159.91	103.82	130.95	137.85	167.45
Long-Term Debt/Capital (%)	60.84	62.99	62.35	76.18	67.26	75.1	80.11	77.33	76.98	86.45	57.33	47.45	51.48	54.44	60.7
Long-Term Debt/Total Assets (%)	31.97	28.53	29.89	27.81	29.54	30.7	44.49	39.85	41.84	39.37	32.88	28.91	32	32.94	37.24
Total Debt/Equity (%)	156.56	271.92	167.57	499.49	575.43	3,747.09	2,371.97	748.63	857.97	4,148.58	178.91	118.77	154.38	153.21	175.88
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt/Total Assets (%)	32.07	33.12	30.02	30.41	37.41	39.81	53.3	45.46	48.68	44.47	36.78	33.07	37.72	36.61	39.12
Net Debt to Equity	113.87	117.11	95.67	393.33	465.84	2,936.83	2,047.75	609.52	609.2	2,801.79	81.72	71	110.29	90.62	112.21
Net Debt/Capital (%)	53.24	53.94	48.89	79.73	82.33	96.71	95.34	85.91	76.3	83.26	39.47	37.27	46.72	41.82	46.82
EBITDA	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
EBITDA-CapEx	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
Operating Income (Loss)	6,080	1,343	7,034	4,968	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468	7,867

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	0.66	0.94	0.74	0.38	0.44	0.39	0.32	0.36	0.37	0.37	0.6	0.42	0.34	0.38	0.38
Current Ratio	1.89	1.86	1.88	1.3	1.23	1.18	1.22	1.15	1.11	1.19	1.42	1.22	1.1	1.17	1.22
Quick Ratio	1.62	1.67	1.65	1.15	1.11	1.1	1.12	1.06	0.99	1	1.32	1.11	0.98	1.05	1.09
CFO/Avg Current Liab	1.14	0.97	0.94	0.73	0.77	0.58	0.12	0.94	0.59	0.65	0.87	0.79	0.57	0.59	0.53
Common Equity/Total Assets	20.27	11.97	17.88	6.04	6.45	1	2.18	6.04	5.65	1.05	20.54	27.82	24.42	23.86	22.2
Long-Term Debt/Equity (%)	156.09	234.29	166.83	456.72	454.28	2,889.04	1,980.27	656.27	737.4	3,672.8	159.91	103.82	130.95	137.85	167.45
Long-Term Debt/Capital (%)	60.84	62.99	62.35	76.18	67.26	75.1	80.11	77.33	76.98	86.45	57.33	47.45	51.48	54.44	60.7
Long-Term Debt/Total Assets (%)	31.97	28.53	29.89	27.81	29.54	30.7	44.49	39.85	41.84	39.37	32.88	28.91	32	32.94	37.24
Total Debt/Equity (%)	156.56	271.92	167.57	499.49	575.43	3,747.09	2,371.97	748.63	857.97	4,148.58	178.91	118.77	154.38	153.21	175.88
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt/Total Assets (%)	32.07	33.12	30.02	30.41	37.41	39.81	53.3	45.46	48.68	44.47	36.78	33.07	37.72	36.61	39.12
CFO/Total Liabilities	25.63	21.14	24.57	17.2	20.74	16.2	3.32	27.06	15.83	16.94	27.22	27.48	19.12	18.98	14.87
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	4.48	4.3	4.26	3.94	3.53	3.32	3.57	4.7	4.53	3.95	3.61	3.21

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	8.95	8.76	8.79	8.85	8.46	8.31	8.09	8.11	8.01	8.34	8.35	7.99	7.64	8.25	8.03
Days Sales Outstanding	40.8	41.66	41.52	41.25	43.14	43.93	45.14	45.03	45.59	43.78	43.69	45.7	47.75	44.26	45.45
Inventory Turnover	- -	131.53	110.87	130.46	141.29	151.7	144.77	143.93	129.56	122.62	115.19	98.78	80.83	84.85	92.82
Days Inventory Outstanding	- -	2.78	3.29	2.8	2.58	2.41	2.52	2.54	2.82	2.98	3.17	3.69	4.52	4.3	3.93
Accounts Payable Turnover	- -	21.22	18.56	18.6	17.23	17.53	15.5	13.02	11.26	11.57	11.03	10.57	10.65	11.8	11.22
Accounts Payable Turnover Days	- -	17.2	19.67	19.62	21.18	20.82	23.55	28.03	32.42	31.56	33.08	34.52	34.28	30.93	32.54
Cash Conversion Cycle	- -	27.24	25.15	24.43	24.54	25.51	24.11	19.53	15.98	15.2	13.78	14.87	17.99	17.64	16.84
Inventory to Cash Days	- -	38.89	38.23	38.46	40.55	41.52	42.62	42.49	42.77	40.8	40.52	42	43.24	39.96	41.52
Inventories	345	393	403	344	308	342	404	421	511	620	717	889	935	826	739
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	345	393	403	344	308	342	404	421	511	620	717	889	935	826	739

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	- -	- -	- -	101,688	86,370	99,744	100,403	83,452	101,476	143,565	183,287	149,463	134,923	106,257	84,362
- Cash & Cash Equivalents	3,034	7,327	4,665	2,291	2,730	3,476	3,320	4,225	5,238	5,910	10,255	5,602	3,169	6,112	5,887
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	73	80	14	17	21	24	30	16	16	12	16	17	8	25	28
+ Total Debt	11,128	12,870	10,872	10,779	14,334	16,075	24,289	22,736	28,167	27,754	25,528	23,521	26,729	25,652	28,590
Enterprise Value	- -	- -	- -	109,201	95,999	111,276	120,653	101,169	123,918	165,015	198,238	165,406	155,625	125,616	107,093
Total Capital	18,236	17,603	17,360	12,937	16,825	16,504	25,313	25,773	31,450	28,423	39,797	43,324	44,043	42,395	44,845
Total Debt/Capital (%)	61.02	73.11	62.63	83.32	85.19	97.4	95.95	88.22	89.56	97.65	64.15	54.29	60.69	60.51	63.75
Total Debt / EV	- -	- -	- -	0.1	0.15	0.14	0.2	0.22	0.23	0.17	0.13	0.14	0.17	0.2	0.27
EV/Sales	- -	- -	- -	1.88	1.64	1.81	1.81	1.41	1.67	1.95	2.04	1.65	1.71	1.38	1.21
EV/EBITDA	- -	- -	- -	15.85	9.84	11.23	12.3	10.96	12.2	15.89	12.58	10.16	12.44	10.4	9.22
EV/EBIT	- -	- -	- -	21.98	12.52	14.47	16.03	14.4	15.89	21.48	15.48	12.63	17.02	14.83	13.61
EV/Cash Flow to Firm	- -	- -	- -	18.33	12.54	16.54	67.39	7.67	13.54	15.04	12.75	11.29	14.34	11.64	11.59
EV/Free Cash Flow to Firm	- -	- -	- -	18.33	12.54	16.54	67.39	7.67	13.54	15.04	12.75	11.29	14.34	11.64	11.59
Diluted Market Cap	- -	- -	- -	103,823	88,320	101,885	102,273	84,619	102,897	144,627	185,036	152,282	135,932	106,518	84,471
Diluted Enterprise Value	- -	- -	- -	111,336	97,949	113,417	122,523	102,336	125,339	166,077	199,987	168,225	156,634	125,877	107,202
EV per Share	- -	- -	- -	120.66	108.35	128.15	140.46	117.91	144.59	190.86	227.94	192.6	182.31	147.11	126.15
TTM Sales	53,105	54,127	55,438	58,232	58,363	61,610	66,585	71,861	74,094	84,628	97,287	100,338	90,958	91,070	88,661
TTM EBITDA	7,862	3,201	8,901	6,891	9,752	9,912	9,811	9,231	10,158	10,382	15,763	16,282	12,507	12,077	11,613
TTM Operating Income	6,080	1,343	7,034	4,968	7,668	7,688	7,529	7,024	7,798	7,684	12,810	13,094	9,141	8,468	7,867
TTM Cash Flow to Firm	7,302	7,542	7,553	5,957	7,655	6,728	1,790	13,193	9,152	10,970	15,546	14,652	10,854	10,795	9,241
TTM Free Cash Flow to Firm	7,302	7,542	7,553	5,957	7,655	6,728	1,790	13,193	9,152	10,970	15,546	14,652	10,854	10,795	9,241

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	- -	- -	- -	18.13	11.89	15.74	69.15	6.66	11.91	13.83	12.33	10.8	13.28	10.52	10
EV/EBIT	- -	- -	- -	21.98	12.52	14.47	16.03	14.4	15.89	21.48	15.48	12.63	17.02	14.83	13.61
Enterprise Value	- -	- -	- -	109,201	95,999	111,276	120,653	101,169	123,918	165,015	198,238	165,406	155,625	125,616	107,093
Low Price	- -	- -	- -	94.38	95.78	89.8	102.22	97.26	98.38	86.02	152.57	159.42	134.44	123.18	82.62
EV/Sales	- -	- -	- -	1.88	1.64	1.81	1.81	1.41	1.67	1.95	2.04	1.65	1.71	1.38	1.21
EV/EBITDA	- -	- -	- -	15.85	9.84	11.23	12.3	10.96	12.2	15.89	12.58	10.16	12.44	10.4	9.22
Price/Earnings	- -	- -	- -	33.95	18.13	29.64	20.76	17.58	23.04	107.2	14.29	13.13	20.24	18.4	15.14
Price/Earnings Average	- -	- -	- -	31.14	18.71	27.78	19.56	20.31	21.07	88.32	12.91	14.42	21.84	20.33	15.24
Price/Earnings High	- -	- -	- -	33.95	20.73	31.03	21.49	23.84	24	117.39	14.9	17.61	25.15	23.74	20.9
Price/Earnings Low	- -	- -	- -	28.51	17.82	23.17	18.15	17.58	19.14	55.53	10.34	12.02	17.22	18.21	12.59
Price/Book Value	- -	- -	- -	47.5	34.97	246.28	101.01	27.62	31.06	218.52	12.86	7.55	7.8	6.36	5.2
Price/Book Value Average	- -	- -	- -	43.58	36.09	230.8	95.17	31.91	28.4	180.03	11.62	8.3	8.41	7.02	5.23
Price/Book Value High	- -	- -	- -	47.5	39.97	257.87	104.6	37.46	32.35	239.3	13.4	10.14	9.69	8.2	7.17
Price/Book Value Low	- -	- -	- -	39.89	34.36	192.53	88.34	27.62	25.81	113.2	9.31	6.92	6.63	6.29	4.32
Price/Tangible Book Value	- -	- -	- -	-114.26	-34.58	-19.52	-20.74	-29.12	-37.4	-28.81	22.7	11.71	14.78	11.36	13.25
Price/Tangible Book Value Average	- -	- -	- -	-104.82	-35.68	-18.29	-19.54	-33.64	-34.2	-23.73	20.51	12.86	15.95	12.55	13.33
Price/Tangible Book Value High	- -	- -	- -	-114.26	-39.52	-20.44	-21.47	-39.48	-38.96	-31.54	23.66	15.71	18.37	14.66	18.28
Price/Tangible Book Value Low	- -	- -	- -	-95.97	-33.97	-15.26	-18.14	-29.12	-31.08	-14.92	16.43	10.72	12.57	11.24	11.01
Price/Sales	- -	- -	- -	1.77	1.5	1.65	1.53	1.17	1.38	1.7	1.89	1.51	1.49	1.17	0.95
Price/Sales Average	- -	- -	- -	1.62	1.55	1.54	1.44	1.35	1.26	1.4	1.71	1.66	1.61	1.29	0.96
Price/Sales High	- -	- -	- -	1.77	1.72	1.72	1.58	1.59	1.44	1.86	1.97	2.03	1.85	1.51	1.31
Price/Sales Low	- -	- -	- -	1.48	1.48	1.29	1.34	1.17	1.15	0.88	1.37	1.38	1.27	1.16	0.79
Price/Cash Flow	- -	- -	- -	17.97	11.82	15.67	68.83	6.63	11.84	13.76	12.27	10.75	13.26	10.51	9.98
Price/Cash Flow Average	- -	- -	- -	16.49	12.2	14.68	64.85	7.66	10.83	11.34	11.09	11.81	14.31	11.61	10.05
Price/Cash Flow High	- -	- -	- -	17.97	13.51	16.41	71.28	8.99	12.34	15.07	12.79	14.42	16.48	13.56	13.78
Price/Cash Flow Low	- -	- -	- -	15.1	11.62	12.25	60.2	6.63	9.84	7.13	8.89	9.85	11.28	10.4	8.3
Price/Free Cash Flow Average	- -	- -	- -	16.64	12.27	14.75	65.15	7.69	10.89	11.39	11.14	11.86	14.32	11.62	10.06
Price/Free Cash Flow High	- -	- -	- -	18.13	13.59	16.48	71.61	9.03	12.41	15.14	12.85	14.49	16.5	13.58	13.79
Price/Free Cash Flow Low	- -	- -	- -	15.23	11.68	12.3	60.48	6.66	9.9	7.16	8.93	9.89	11.29	10.42	8.31
EV/Sales Average	- -	- -	- -	1.73	1.69	1.7	1.72	1.59	1.56	1.65	1.86	1.8	1.83	1.5	1.21
EV/Sales High	- -	- -	- -	1.88	1.86	1.88	1.87	1.82	1.73	2.11	2.12	2.16	2.07	1.72	1.57
EV/Sales Low	- -	- -	- -	1.6	1.62	1.45	1.62	1.41	1.44	1.13	1.52	1.52	1.49	1.37	1.05
EV/EBITDA Average	- -	- -	- -	14.63	10.13	10.59	11.71	12.36	11.34	13.46	11.45	11.06	13.29	11.32	9.27
EV/EBITDA High	- -	- -	- -	15.85	11.11	11.7	12.66	14.18	12.62	17.21	13.07	13.3	15.06	12.96	11.98
EV/EBITDA Low	- -	- -	- -	13.48	9.69	9.03	11.01	10.96	10.51	9.23	9.37	9.39	10.83	10.31	8
EV/EBIT Average	- -	- -	- -	20.29	12.88	13.66	15.25	16.25	14.78	18.18	14.09	13.76	18.19	16.15	13.68
EV/EBIT High	- -	- -	- -	21.98	14.13	15.08	16.5	18.63	16.43	23.25	16.08	16.53	20.61	18.48	17.69
EV/EBIT Low	- -	- -	- -	18.7	12.32	11.64	14.35	14.4	13.69	12.47	11.53	11.67	14.82	14.71	11.81
Last Price	- -	- -	- -	112.36	97.48	114.86	116.88	97.26	118.41	166.05	210.75	174.04	158.06	124.44	99.38
High Price	- -	- -	- -	112.36	111.42	120.27	121.04	131.88	123.34	181.84	219.68	233.51	196.42	160.57	137.14
Enterprise Value Average	- -	- -	- -	100,807	98,760	105,008	114,848	114,122	115,233	139,731	180,546	180,115	166,266	136,738	107,624
Enterprise Value High	- -	- -	- -	109,201	108,351	115,969	124,219	130,871	128,145	178,669	206,009	216,483	188,368	156,474	139,146
Enterprise Value Low	- -	- -	- -	92,925	94,494	89,507	108,061	101,169	106,757	95,824	147,639	152,854	135,463	124,540	92,871

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	963	953	923	905	886	868	859	858	857	865	870	859	854	854	849
Diluted Weighted Avg Shares	991	969	948	924	906	887	875	870	869	871	878	875	860	856	850
Basic Weighted Avg Shares	981	960	940	916	901	883	871	866	864	867	874	871	859	855	849
Revenue per Share	54.13	56.38	58.98	63.57	64.78	69.77	76.45	82.98	85.76	97.61	111.31	115.2	105.89	106.51	104.43
EBITDA per Share	8.01	3.33	9.47	7.52	10.82	11.23	11.26	10.66	11.76	11.97	18.04	18.69	14.56	14.13	13.68
Operating Income per Share	6.2	1.4	7.48	5.42	8.51	8.71	8.64	8.11	9.03	8.86	14.66	15.03	10.64	9.9	9.27
Basic EPS, GAAP	3.88	0.84	4.65	3.31	5.38	3.88	5.63	5.53	5.14	1.55	14.75	13.26	7.81	6.76	6.56
Basic EPS from Cont Ops	3.88	0.84	4.65	3.31	5.38	3.88	5.63	5.53	5.14	1.55	14.75	13.26	7.81	6.76	6.56
Diluted EPS, GAAP	3.84	0.83	4.61	3.28	5.35	3.86	5.61	5.51	5.11	1.54	14.68	13.2	7.8	6.75	6.56
Diluted EPS from Cont Ops	3.84	0.83	4.61	3.28	5.35	3.86	5.61	5.51	5.11	1.54	14.68	13.2	7.8	6.75	6.56
Dividend per Share	2.04	2.22	2.4	2.58	2.8	2.99	3.18	3.48	3.7	3.89	3.93	5.87	6.25	6.31	6.36
Cash Flow per Share	7.21	7.52	7.77	6.25	8.25	7.33	1.7	14.68	10	12.06	17.17	16.19	11.92	11.84	9.95
Free Cash Flow per Basic Share	7.21	7.52	7.77	6.25	8.25	7.33	1.7	14.68	10	12.06	17.17	16.19	11.92	11.84	9.95
Cash & Equivalents per Share	4.44	8.31	5.68	3.63	5.33	5.26	4.74	5.87	6.7	7.31	12.18	8.84	7.07	7.4	6.93
Book Value per Share	7.31	4.88	7.01	2.37	2.79	0.47	1.16	3.52	3.81	0.76	16.39	23.04	20.27	19.58	19.12
Tangible Book Value per Share	4.52	1.97	3.8	-0.98	-2.82	-5.88	-5.64	-3.34	-3.17	-5.76	9.28	14.87	10.69	10.95	7.5