CSG Systems International, Inc. Financial Ratios — CSGS

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 (%)	8.08	8.59	7.4	5.64	9.53	9.04	8.37	8.56	10.06	6.8	8.06	4.75	6.95	8.73	5.42
Return on Assets (%)	4.99	5.88	5.28	4.14	7.29	7.17	6.83	6.55	6.91	4.49	5.32	3.22	4.75	5.9	3.67
Return on Capital (%)	6.31	7.21	6.55	5.05	7.98	7.44	6.91	7.29	8.03	5.38	6.21	3.98	5.94	7	4.61
Return on Invested Capital (%)	9.68	10.58	10.65	8.36	12.13	13.32	12.35	12.43	13.04	8.72	10.28	10.38	11.78	12.96	9.99
Gross Margin (%)	50.23	49.29	49.54	48.18	49.54	50.7	50	48.6	47.32	45.93	48.09	48.14	47.4	48.68	49.03
EBITDA Margin (%)	23.38	21.87	19.47	18.27	21.3	22.9	19.93	20.14	19.87	17.95	19.29	18.54	18.09	18.14	17.25
Operating Margin (%)	14.18	13.09	11.92	11.93	15.44	17.48	14.5	12.98	13.14	11.19	12.33	11.48	11.99	12.08	11.33
Incremental Operating Margin (%)	14.92	-23.11	105.7	14.41	2,151.94	199.47	-64.85	-1.04	14.25	319.56	32.48	-9.25	19.07	15.87	-23.38
Pretax Margin (%)	10.34	10.2	8.23	8.19	12.8	13.14	11.11	9.94	10.61	8.62	9.65	5.58	7.9	9.38	7.41
Profit Margin (%)	5.75	6.46	6.06	4.75	8.31	8.26	7.77	7.56	8.3	5.93	6.91	4.04	5.67	7.25	4.57
Net Income to Common Margin (%)	5.75	6.46	6.06	4.75	8.31	8.26	7.77	7.56	8.3	5.93	6.91	4.04	5.67	7.25	4.57
Effective Tax Rate (%)	44.35	36.7	26.42	41.95	35.06	37.12	30.04	23.98	21.71	31.22	28.35	27.51	28.27	22.64	38.39
Dvd Payout Ratio (%)	- -	- -	31.93	57.49	35.54	38.34	43.76	42.31	35.19	52.9	45.05	75.98	51.22	30.64	66.92
Sustainable Growth Rate (%)	8.08	8.59	5.04	2.4	6.15	5.57	4.71	4.94	6.52	3.2	4.43	1.14	3.39	6.06	1.79

Credit (USD)

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	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	310	275	265	256	279	376	332	360	458	470	468	487	593	575	565
ST Debt	27	15	15	22	149	49	22	8	33	37	261	59	23	19	5
LT Debt	283	260	250	233	130	327	309	352	425	433	207	429	569	556	561
Total Debt/EBITDA	1.8	1.66	1.82	1.86	1.74	2.16	2.11	2.04	2.31	2.64	2.32	2.41	2.8	2.65	2.68
Net Debt/EBITDA	0.95	0.85	1.25	1.27	0.91	1.43	1.33	1.25	1.01	0.91	0.84	1.3	1.68	1.73	1.7
Total Debt/EBIT	2.97	2.77	2.97	2.85	2.4	2.83	2.9	3.17	3.5	4.24	3.63	3.9	4.23	3.97	4.08
Net Debt/EBIT	1.57	1.42	2.05	1.94	1.26	1.88	1.83	1.94	1.53	1.47	1.31	2.1	2.54	2.6	2.59
EBITDA to Interest Expense	7.73	7.91	8.58	8.46	9.31	8.25	8.04	8.67	9.63	9.62	11.48	12.29	6.78	7.13	7.29
EBITDA-CapEx/Interest Expense	6.32	6.1	6.39	6.51	7.75	6.54	4.46	5.86	7.82	8.03	9.97	10.04	5.89	6.39	6.79
EBIT to Interest Expense	4.69	4.73	5.25	5.52	6.75	6.3	5.85	5.59	6.37	6	7.34	7.61	4.5	4.75	4.79
Interest Expense	22	21	17	16	17	21	20	20	21	18	18	16	31	30	29
Common Equity/Total Assets	66.84	70.08	72.46	74.46	78.37	80.23	82.93	71.41	66.2	65.85	66.09	69.48	67.14	68.03	67.32
Long-Term Debt/Equity (%)	102.92	79.51	68.3	65.06	37.66	130.09	90.22	97.59	107.26	102.53	47.08	120.67	208.31	196.77	197.61
Long-Term Debt/Capital (%)	33.09	29.91	27.95	26.15	13.64	29.95	28.58	30.49	32.54	32.15	14.93	30.1	36.46	34.85	34.92
Long-Term Debt/Total Assets (%)	34.7	30.66	28.78	27.3	15.1	36.66	34.19	31.62	33.16	32.51	14.94	31.79	39.46	37.05	36.29
Total Debt/Equity (%)	112.75	84.1	72.4	71.34	80.71	149.75	96.79	99.67	115.51	111.22	106.32	137.14	216.88	203.34	199.31
Total Debt/Capital (%)	36.25	31.64	29.62	28.67	29.22	34.47	30.66	31.14	35.04	34.88	33.71	34.21	37.96	36.01	35.22
Total Debt/Total Assets (%)	38.01	32.43	30.5	29.93	32.35	42.21	36.67	32.29	35.71	35.27	33.74	36.13	41.08	38.29	36.61
Net Debt to Equity	59.34	43.15	49.81	48.55	42.36	99.49	61.12	61.09	50.49	38.48	38.41	73.92	130.33	133.32	126.7
Net Debt/Capital (%)	23.04	19.19	22.46	21.48	17.81	25.9	21.83	21.7	17.4	14.03	14.29	20.62	25.9	26.28	25.22
EBITDA	172	166	146	137	160	174	157	176	198	178	202	202	211	217	211
EBITDA-CapEx	140	128	108	106	133	138	87	119	161	148	175	165	183	195	196
Operating Income (Loss)	104	99	89	90	116	133	114	114	131	111	129	125	140	145	139

Liquidity (USD)

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	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	0.8	0.8	1.02	0.95	0.67	0.95	1.17	0.46	0.44	0.55	0.34	0.29	0.33	0.26	0.28
Current Ratio	2.08	2.08	2.3	2.23	1.39	1.91	2.49	1.71	1.6	1.64	1.08	1.45	1.54	1.46	1.44
Quick Ratio	1.89	1.87	2.09	2.03	1.29	1.81	2.36	1.26	1.11	1.16	0.75	0.91	0.96	0.83	0.85
CFO/Avg Current Liab	0.26	0.62	0.61	0.4	0.48	0.26	0.49	0.5	0.39	0.4	0.25	0.1	0.24	0.23	0.25
Common Equity/Total Assets	66.84	70.08	72.46	74.46	78.37	80.23	82.93	71.41	66.2	65.85	66.09	69.48	67.14	68.03	67.32
Long-Term Debt/Equity (%)	102.92	79.51	68.3	65.06	37.66	130.09	90.22	97.59	107.26	102.53	47.08	120.67	208.31	196.77	197.61
Long-Term Debt/Capital (%)	33.09	29.91	27.95	26.15	13.64	29.95	28.58	30.49	32.54	32.15	14.93	30.1	36.46	34.85	34.92
Long-Term Debt/Total Assets (%)	34.7	30.66	28.78	27.3	15.1	36.66	34.19	31.62	33.16	32.51	14.94	31.79	39.46	37.05	36.29
Total Debt/Equity (%)	112.75	84.1	72.4	71.34	80.71	149.75	96.79	99.67	115.51	111.22	106.32	137.14	216.88	203.34	199.31
Total Debt/Capital (%)	36.25	31.64	29.62	28.67	29.22	34.47	30.66	31.14	35.04	34.88	33.71	34.21	37.96	36.01	35.22
Total Debt/Total Assets (%)	38.01	32.43	30.5	29.93	32.35	42.21	36.67	32.29	35.71	35.27	33.74	36.13	41.08	38.29	36.61
CFO/Total Liabilities	11.28	24.49	25.18	16.87	26.5	13.14	22.64	19.03	17.04	19.02	14.81	6.4	11.28	11.14	12.37
CFO/CapEx	1.95	3.37	3.41	2.65	5.1	2.33	1.82	2.51	4.05	5.88	5.28	1.72	4.71	6.05	10.72
Altman's Z-Score	5.03	5.05	5.31	5.17	5.26	5.47	5.71	4.52	4.42	4.06	4.18	4.44	4.07	3.95	4.17

Working Capital (USD)

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	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	4.02	4.07	4.04	4.14	4.14	3.92	3.69	3.84	4.15	4.21	4.44	4.2	4.32	4.48	4.32
Days Sales Outstanding	90.81	89.64	90.45	88.15	88.09	93	99.03	94.97	87.86	86.72	82.13	86.83	84.58	81.49	84.53
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	13.91	13.31	11.81	11.06	9.44	9.56	10.74	10.73	13.45	17.13	16.65	13.6	13.07	14.85	15.27
Accounts Payable Turnover Days	26.24	27.42	30.89	33.01	38.66	38.19	33.99	34	27.14	21.31	21.92	26.84	27.93	24.59	23.9
Cash Conversion Cycle	64.57	62.22	59.55	55.14	49.43	54.81	65.04	60.97	60.72	65.41	60.21	59.99	56.65	56.9	60.64
Inventory to Cash Days	90.81	89.64	90.45	88.15	88.09	93	99.03	94.97	87.86	86.72	82.13	86.83	84.58	81.49	84.53
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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	483	585	944	813	1,117	1,499	1,420	1,032	1,660	1,443	1,831	1,775	1,593	1,449	2,124
- Cash & Cash Equivalents	147	134	83	82	133	126	122	139	157	189	206	150	186	162	180
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4	- -	- -	- -	- -
+ Total Debt	310	275	265	256	279	376	332	360	458	470	468	487	593	575	565
Enterprise Value	634	690	998	868	1,155	1,599	1,491	1,229	1,935	1,672	2,069	2,112	2,000	1,862	2,509
Total Capital	854	868	895	892	955	1,092	1,082	1,156	1,308	1,347	1,388	1,424	1,562	1,595	1,605
Total Debt/Capital (%)	36.25	31.64	29.62	28.67	29.22	34.47	30.66	31.14	35.04	34.88	33.71	34.21	37.96	36.01	35.22
Total Debt / EV	0.49	0.4	0.27	0.29	0.24	0.24	0.22	0.29	0.24	0.28	0.23	0.23	0.3	0.31	0.23
EV/Sales	0.86	0.91	1.34	1.15	1.54	2.1	1.89	1.4	1.94	1.69	1.98	1.94	1.71	1.55	2.05
EV/EBITDA	3.69	4.17	6.86	6.32	7.21	9.17	9.47	6.97	9.77	9.41	10.25	10.45	9.46	8.57	11.89
EV/EBIT	6.08	6.97	11.2	9.68	9.94	12.02	13.02	10.82	14.78	15.08	16.03	16.88	14.26	12.87	18.11
EV/Cash Flow to Firm	8.64	4.9	7.18	9.32	7.8	16.4	10.58	7.74	11.58	9	13.54	27.96	12.96	11.69	14.44
EV/Free Cash Flow to Firm	6.05	3.86	5.66	6.96	6.6	11.97	7.07	5.69	9.46	7.77	11.53	18.77	10.97	10.24	13.32
Diluted Market Cap	486	590	966	846	1,203	1,598	1,440	1,044	1,681	1,455	1,844	1,790	1,602	1,465	2,164
Diluted Enterprise Value	649	731	1,149	1,020	1,350	1,848	1,650	1,264	1,983	1,736	2,110	2,127	2,009	1,878	2,549
EV per Share	19.31	21.46	31.09	26.74	37.21	51.63	45.99	37.83	60.38	52.24	65.11	68.05	66.79	65.67	90.61
TTM Sales	735	757	747	751	753	761	790	875	997	991	1,046	1,090	1,169	1,197	1,223
TTM EBITDA	172	166	146	137	160	174	157	176	198	178	202	202	211	217	211
TTM Operating Income	104	99	89	90	116	133	114	114	131	111	129	125	140	145	139
TTM Cash Flow to Firm	73	141	139	93	148	97	141	159	167	186	153	76	154	159	174
TTM Free Cash Flow to Firm	105	179	176	125	175	134	211	216	204	215	179	112	182	182	188

Multiples (USD)

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	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	5.26	3.57	5.9	7.34	7.34	13.28	7.3	5.21	8.92	7.19	11.06	17.8	10.02	9.26	12.69
EV/EBIT	6.08	6.97	11.2	9.68	9.94	12.02	13.02	10.82	14.78	15.08	16.03	16.88	14.26	12.87	18.11
Enterprise Value	634	690	998	868	1,155	1,599	1,491	1,229	1,935	1,672	2,069	2,112	2,000	1,862	2,509
Low Price	12.13	13.85	18.04	23.16	23.72	32.45	35.48	30.4	31.31	36.33	42.58	52.42	46.19	39.56	49.23
EV/Sales	0.86	0.91	1.34	1.15	1.54	2.1	1.89	1.4	1.94	1.69	1.98	1.94	1.71	1.55	2.05
EV/EBITDA	3.69	4.17	6.86	6.32	7.21	9.17	9.47	6.97	9.77	9.41	10.25	10.45	9.46	8.57	11.89
Price/Earnings	11.42	11.96	20.86	22.78	17.86	23.84	23.15	15.61	20.05	24.57	25.31	40.28	24.05	16.68	38.01
Price/Earnings Average	13.24	11.73	16.41	24.26	15.43	20.41	21.69	20	18.4	24.2	21.04	41.86	23.99	15.77	32.18
Price/Earnings High	16.75	15.35	21.15	29.18	19.28	24.55	27.12	23.98	22.73	29.94	26.13	46.89	31.34	18.65	39.25
Price/Earnings Low	9.41	9.11	12.8	21.04	11.77	15.98	18.74	14.93	12.12	19.81	18.71	36.92	20.87	12.91	24.4
Price/Book Value	0.89	0.99	1.5	1.28	1.65	2.09	1.89	1.3	1.95	1.64	2	1.89	1.64	1.42	2.04
Price/Book Value Average	1.03	0.97	1.18	1.36	1.43	1.79	1.77	1.66	1.79	1.62	1.66	1.97	1.64	1.34	1.73
Price/Book Value High	1.3	1.26	1.52	1.64	1.78	2.16	2.22	1.99	2.21	2	2.06	2.2	2.14	1.59	2.11
Price/Book Value Low	0.73	0.75	0.92	1.18	1.09	1.4	1.53	1.24	1.18	1.33	1.48	1.74	1.43	1.1	1.31
Price/Tangible Book Value	-6.55	-28.66	27.98	19.49	21.78	-71.94	22.86	-30.41	-1,888.06	50.85	-124.83	-24.75	-11.4	-9.43	-13.2
Price/Tangible Book Value Average	-7.6	-28.11	22.01	20.77	18.82	-61.58	21.42	-38.97	-1,732.16	50.07	-103.76	-25.72	-11.37	-8.92	-11.17
Price/Tangible Book Value High	-9.62	-36.78	28.37	24.97	23.52	-74.09	26.78	-46.74	-2,140.02	61.97	-128.85	-28.81	-14.85	-10.55	-13.63
Price/Tangible Book Value Low	-5.4	-21.83	17.17	18.01	14.36	-48.23	18.51	-29.1	-1,141.66	40.99	-92.24	-22.68	-9.89	-7.3	-8.47
Price/Sales	0.66	0.77	1.26	1.08	1.48	1.97	1.8	1.18	1.66	1.46	1.75	1.63	1.36	1.21	1.74
Price/Sales Average	0.76	0.76	0.99	1.15	1.28	1.69	1.69	1.51	1.53	1.43	1.45	1.69	1.36	1.14	1.47
Price/Sales High	0.96	0.99	1.28	1.39	1.6	2.03	2.11	1.81	1.89	1.77	1.81	1.9	1.78	1.35	1.79
Price/Sales Low	0.54	0.59	0.78	1	0.98	1.32	1.46	1.13	1.01	1.17	1.29	1.49	1.18	0.94	1.11
Price/Cash Flow	7.92	4.59	7.46	9.72	8.16	17.8	11.17	7.2	10.99	8.34	13.06	27.91	12.08	10.67	13.62
Price/Cash Flow Average	9.18	4.5	5.87	10.36	7.05	15.24	10.46	9.23	10.08	8.21	10.85	29	12.05	10.09	11.53
Price/Cash Flow High	11.62	5.89	7.56	12.46	8.81	18.34	13.08	11.06	12.45	10.16	13.48	32.48	15.74	11.94	14.07
Price/Cash Flow Low	6.53	3.49	4.58	8.98	5.38	11.94	9.04	6.89	6.64	6.72	9.65	25.57	10.48	8.26	8.74
Price/Free Cash Flow Average	6.11	3.5	4.64	7.82	6.35	11.37	6.84	6.67	8.19	7.08	9.19	18.5	10	8.76	10.75
Price/Free Cash Flow High	7.73	4.58	5.98	9.4	7.93	13.68	8.55	8	10.12	8.76	11.42	20.72	13.06	10.36	13.11
Price/Free Cash Flow Low	4.34	2.72	3.62	6.78	4.84	8.91	5.91	4.98	5.4	5.79	8.17	16.31	8.7	7.17	8.15
EV/Sales Average	0.98	0.94	1.24	1.39	1.48	2.01	1.95	1.76	1.83	1.72	1.71	2	1.71	1.49	1.79
EV/Sales High	1.19	1.18	1.52	1.62	1.8	2.36	2.37	2.06	2.19	2.06	2.06	2.2	2.12	1.7	2.11
EV/Sales Low	0.76	0.77	1.02	1.23	1.17	1.65	1.72	1.38	1.31	1.46	1.55	1.8	1.53	1.28	1.43
EV/EBITDA Average	4.21	4.32	6.36	7.58	6.94	8.8	9.79	8.76	9.21	9.57	8.86	10.8	9.44	8.21	10.35
EV/EBITDA High	5.07	5.38	7.83	8.86	8.44	10.29	11.91	10.25	11.02	11.47	10.68	11.89	11.74	9.36	12.22
EV/EBITDA Low	3.27	3.54	5.23	6.74	5.51	7.2	8.64	6.86	6.59	8.12	8.02	9.72	8.46	7.06	8.29
EV/EBIT Average	6.94	7.21	10.38	11.61	9.57	11.52	13.46	13.58	13.93	15.35	13.85	17.44	14.23	12.32	15.76
EV/EBIT High	8.37	9	12.79	13.56	11.64	13.48	16.37	15.9	16.67	18.39	16.71	19.21	17.71	14.05	18.61
EV/EBIT Low	5.39	5.92	8.55	10.32	7.6	9.43	11.88	10.64	9.97	13.02	12.55	15.7	12.76	10.61	12.62
Last Price	14.71	18.18	29.4	25.07	35.98	48.4	43.82	31.77	51.78	45.07	57.62	57.2	53.21	51.11	76.69
High Price	21.59	23.33	29.81	32.11	38.85	49.85	51.34	48.82	58.69	54.92	59.48	66.58	69.35	57.16	79.2
Enterprise Value Average	723	714	925	1,041	1,112	1,533	1,540	1,543	1,824	1,702	1,788	2,181	1,996	1,782	2,184
Enterprise Value High	871	891	1,140	1,216	1,353	1,794	1,874	1,807	2,183	2,039	2,156	2,403	2,483	2,033	2,579
Enterprise Value Low	561	586	762	926	883	1,255	1,360	1,208	1,305	1,444	1,619	1,963	1,789	1,534	1,749

Shares Outstanding	34	34	34	34	33	32	34	33	33	33	32	31	30	29	28
Diluted Weighted Avg Shares	33	32	33	34	33	33	33	33	32	32	32	31	30	29	28
Basic Weighted Avg Shares	33	32	32	32	31	31	32	32	32	32	32	31	30	28	28
Revenue per Share	22.39	23.54	23.27	23.15	24.23	24.57	24.36	26.93	31.1	30.94	32.93	35.12	39.06	42.24	44.17
EBITDA per Share	5.23	5.15	4.53	4.23	5.16	5.63	4.85	5.42	6.18	5.55	6.35	6.51	7.06	7.66	7.62
Operating Income per Share	3.17	3.08	2.77	2.76	3.74	4.3	3.53	3.5	4.09	3.46	4.06	4.03	4.68	5.1	5
Basic EPS, GAAP	1.29	1.52	1.41	1.1	2.01	2.03	1.89	2.04	2.58	1.83	2.28	1.42	2.21	3.06	2.02
Basic EPS from Cont Ops	1.29	1.52	1.41	1.1	2.01	2.03	1.89	2.04	2.58	1.83	2.28	1.42	2.21	3.06	2.02
Diluted EPS, GAAP	1.28	1.51	1.38	1.06	1.87	1.9	1.87	2.01	2.55	1.82	2.26	1.41	2.2	3.03	1.98
Diluted EPS from Cont Ops	1.28	1.51	1.38	1.06	1.87	1.9	1.87	2.01	2.55	1.82	2.26	1.41	2.2	3.03	1.98
Dividend per Share	- -	- -	0.45	0.63	0.72	0.78	0.83	0.86	0.91	0.97	1.03	1.08	1.13	0.94	1.35
Cash Flow per Share	1.86	3.96	3.94	2.58	4.41	2.72	3.92	4.41	4.71	5.4	4.41	2.05	4.41	4.79	5.63
Free Cash Flow per Basic Share	0.9	2.79	2.79	1.6	3.55	1.55	1.76	2.65	3.55	4.49	3.58	0.86	3.47	4	5.11
Cash & Equivalents per Share	4.84	5.27	6.56	6.22	7.76	8.93	8.06	5.01	5.7	7.51	7.35	4.85	6.22	5.71	6.5
Book Value per Share	16.6	18.46	19.61	19.61	21.77	23.11	23.14	24.5	26.5	27.4	28.85	30.2	32.36	36.02	37.55
Tangible Book Value per Share	-2.25	-0.63	1.05	1.29	1.65	-0.67	1.92	-1.04	-0.03	0.89	-0.46	-2.31	-4.67	-5.42	-5.81

CSG Systems International, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)