American Tower Corporation (REIT) Financial Ratios — A0T

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 (%)	11.68	18.58	15.51	21.4	11.22	12.66	17.71	21.2	36.33	36.96	55.97	33.15	30.36	59.5	71.91
Return on Assets (%)	3.51	4.84	3.21	3.97	2.84	3.31	3.87	3.73	4.98	3.76	4.38	2.58	2.23	3.55	4.07
Return on Capital (%)	6.56	8.85	6.75	7.56	5.57	6.19	7.24	- -	- -	6.13	6.55	4.83	4.98	6.31	6.62
Return on Invested Capital (%)	7.01	8.19	7.06	7.5	6.13	6.3	7.08	- -	- -	6.74	5.51	4.29	5.05	7.35	7.71
Gross Margin (%)	74.68	74.94	74.47	73.36	72.61	69.1	69.14	70.77	70.79	72.3	71.34	73.36	74.42	74.58	74.18
EBITDA Margin (%)	60.39	61.34	59.93	60.75	60.74	58.4	55.74	53.98	58.93	59.31	58.4	63.18	62.04	65.58	64.7
Operating Margin (%)	37.66	38.93	36.12	36.27	33.8	32.95	33.65	32.05	37.3	38.89	35.57	30.3	35.32	45.45	46.31
Incremental Operating Margin (%)	29.63	46.15	19.48	36.91	18.75	28.97	38.26	18.29	316.05	65.03	15.27	- -	167.42	927.13	63.05
Pretax Margin (%)	20.74	24.38	16.12	21.11	17.39	19.46	18.85	15.52	25.28	22.65	30.24	21.63	15.27	35.79	28.6
Profit Margin (%)	16.22	22.16	16.4	20.12	14.36	16.53	18.59	16.62	24.9	21.02	27.44	18.31	14.81	22.27	23.76
Net Income to Common Margin (%)	16.22	22.16	16.4	19.54	12.47	14.68	17.28	16.49	24.9	21.02	27.44	18.31	14.81	22.27	23.76
Effective Tax Rate (%)	24.68	15.3	10.99	7.22	19.04	13.81	2.44	- -	- -	7.12	9.25	5.41	5.94	10.11	13.66
Dvd Payout Ratio (%)	37.52	64.56	105.23	52.37	124.02	101	95.78	103.85	82.4	113.93	88.45	138.14	223.04	93.64	115.75
Sustainable Growth Rate (%)	7.3	6.58	-0.81	10.19	-2.69	-0.13	0.75	-0.82	6.39	-5.15	6.46	-12.64	-37.36	3.78	-11.33

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	7,236	8,753	14,478	14,540	17,119	18,534	20,205	21,160	31,060	36,712	52,009	47,051	46,307	43,954	44,964
ST Debt	102	60	70	897	50	239	775	2,755	3,423	1,330	5,281	5,303	3,758	4,270	3,973
LT Debt	7,134	8,693	14,408	13,643	17,069	18,295	19,430	18,405	27,638	35,382	46,727	41,748	42,549	39,684	40,991
Total Debt/EBITDA	4.9	4.96	7.19	5.84	5.91	5.49	5.44	5.27	6.95	7.7	9.52	7.72	7.45	6.62	6.53
Net Debt/EBITDA	4.68	4.75	7.04	5.71	5.8	5.25	5.22	4.97	5.05	5.77	7.56	6.01	5.96	5.2	5.19
Total Debt/EBIT	7.86	7.82	11.92	9.78	10.61	10	10.11	11.11	11.55	12.71	16.61	17.18	14.82	9.73	9.28
Net Debt/EBIT	7.51	7.49	11.68	9.57	10.42	9.58	9.71	10.47	8.39	9.54	13.19	13.38	11.85	7.64	7.38
EBITDA to Interest Expense	4.71	4.38	4.38	4.28	4.86	4.7	4.96	4.86	5.49	6.01	6.27	5.36	4.47	4.73	5.07
EBITDA-CapEx/Interest Expense	3.04	2.97	2.81	2.61	3.64	3.75	3.88	3.76	4.27	4.71	4.69	3.71	3.18	3.6	3.83
EBIT to Interest Expense	2.94	2.78	2.64	2.56	2.7	2.65	2.99	2.89	3.47	3.94	3.82	2.57	2.55	3.28	3.63
Interest Expense	313	403	460	582	597	718	750	826	814	794	871	1,136	1,388	1,405	1,359
Common Equity/Total Assets	26.85	25.36	17.42	18.59	24.72	21.9	18.79	16.16	11.81	8.67	7.27	8.29	6.36	5.54	5.78
Long-Term Debt/Equity (%)	209.21	235.96	401.34	336.58	254.27	226.77	244.27	266.57	419.58	740.13	515.21	336.45	391.6	411.29	395.85
Long-Term Debt/Capital (%)	67.01	69.9	79.74	73.37	71.62	68.77	69	65.58	73.41	85.27	76.5	70.21	74.42	74.03	74.1
Long-Term Debt/Total Assets (%)	58.28	61.7	71.03	64.16	63.44	59.25	58.5	55.76	64.57	74.91	66.86	62.13	64.44	64.97	64.87
Total Debt/Equity (%)	212.2	237.59	403.29	358.72	255.02	229.73	254.01	306.47	471.55	767.95	573.44	379.18	426.19	455.54	434.21
Total Debt/Capital (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
Total Debt/Total Assets (%)	59.11	62.13	71.38	68.38	63.63	60.02	60.83	64.1	72.57	77.72	74.42	70.02	70.13	71.96	71.16
Net Debt to Equity	202.52	227.59	395.11	350.99	250.24	219.97	243.93	288.96	342.41	576.12	455.41	295.3	340.97	357.58	345.19
Net Debt/Capital (%)	66.94	69.47	79.8	77.83	71.45	68.75	70.92	74.29	62.4	69.29	69.86	63.8	66.85	66.86	66.39
EBITDA	1,476	1,764	2,014	2,491	2,898	3,379	3,714	4,016	4,467	4,770	5,465	6,094	6,212	6,641	6,887
EBITDA-CapEx	953	1,196	1,290	1,516	2,169	2,696	2,911	3,103	3,476	3,738	4,088	4,220	4,414	5,051	5,207
Operating Income (Loss)	920	1,120	1,214	1,487	1,613	1,907	2,243	2,385	2,828	3,128	3,328	2,923	3,537	4,603	4,929

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	0.45	0.59	0.33	0.17	0.27	0.49	0.32	0.26	0.27	0.48	0.22	0.24	0.24	0.28	0.21
Current Ratio	0.99	1.32	1.06	0.5	0.83	1.04	0.81	0.51	0.47	0.79	0.41	0.44	0.51	0.45	0.4
Quick Ratio	0.68	0.91	0.61	0.29	0.51	0.73	0.59	0.4	0.4	0.68	0.33	0.38	0.35	0.39	0.34
CFO/Avg Current Liab	1.76	2	2.04	1.49	1.38	1.91	1.41	1.04	0.74	0.85	0.76	0.43	0.61	0.74	0.78
Common Equity/Total Assets	26.85	25.36	17.42	18.59	24.72	21.9	18.79	16.16	11.81	8.67	7.27	8.29	6.36	5.54	5.78
Long-Term Debt/Equity (%)	209.21	235.96	401.34	336.58	254.27	226.77	244.27	266.57	419.58	740.13	515.21	336.45	391.6	411.29	395.85
Long-Term Debt/Capital (%)	67.01	69.9	79.74	73.37	71.62	68.77	69	65.58	73.41	85.27	76.5	70.21	74.42	74.03	74.1
Long-Term Debt/Total Assets (%)	58.28	61.7	71.03	64.16	63.44	59.25	58.5	55.76	64.57	74.91	66.86	62.13	64.44	64.97	64.87
Total Debt/Equity (%)	212.2	237.59	403.29	358.72	255.02	229.73	254.01	306.47	471.55	767.95	573.44	379.18	426.19	455.54	434.21
Total Debt/Capital (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
Total Debt/Total Assets (%)	59.11	62.13	71.38	68.38	63.63	60.02	60.83	64.1	72.57	77.72	74.42	70.02	70.13	71.96	71.16
CFO/Total Liabilities	13.2	13.59	9.58	12.4	10.73	11.84	11.58	14.36	10.36	9.14	7.93	6.75	8.56	10.29	10.34
CFO/CapEx	2.23	2.49	2.21	2.19	2.97	3.96	3.64	4.1	3.79	3.76	3.5	1.97	2.63	3.33	3.25
Altman's Z-Score	- -	2.36	1.72	2.02	1.9	1.92	2.21	2.27	2.15	1.99	1.64	1.39	1.42	1.4	1.33

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	26.92	23.56	22.81	23.41	22.38	21.6	16.21	15.3	16.46	16.52	15.09	12.97	15.33	18.62	17.89
Days Sales Outstanding	13.56	15.49	16	15.59	16.31	16.9	22.51	23.86	22.18	22.1	24.2	28.14	23.8	19.6	20.41
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	- -	29,900	31,053	39,665	41,869	45,176	61,123	69,614	100,019	98,542	130,892	100,238	100,373	84,602	81,484
- Cash & Cash Equivalents	330	369	294	313	321	787	802	1,209	1,501	1,746	1,950	2,028	1,754	2,000	1,475
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	123	111	56	100	61	1,304	1,713	1,568	1,532	687	3,988	6,836	6,667	6,267	6,703
+ Total Debt	7,236	8,753	14,478	14,540	17,119	18,534	20,205	21,160	31,060	36,712	52,009	47,051	46,307	43,954	44,964
Enterprise Value	- -	38,390	45,275	53,985	58,729	64,222	82,238	91,134	131,109	134,195	184,939	152,097	151,593	132,823	131,676
Total Capital	10,646	12,438	18,068	18,594	23,832	26,601	28,159	28,064	37,647	41,492	61,078	59,460	57,172	53,603	55,319
Total Debt/Capital (%)	67.97	70.38	80.13	78.2	71.83	69.67	71.75	75.4	82.5	88.48	85.15	79.13	81	82	81.28
Total Debt / EV	- -	0.23	0.32	0.27	0.29	0.29	0.25	0.23	0.24	0.27	0.28	0.31	0.31	0.33	0.34
EV/Sales	- -	13.35	13.47	13.17	12.31	11.1	12.34	12.25	17.3	16.69	19.76	15.77	15.14	13.12	12.37
EV/EBITDA	- -	21.76	22.47	21.67	20.26	19.01	22.14	22.69	29.35	28.13	33.84	24.96	24.4	20	19.12
EV/EBIT	- -	34.29	37.28	36.31	36.41	34.66	41.15	47.84	48.77	46.47	59.05	55.54	48.5	29.41	27.17
EV/Cash Flow to Firm	- -	21.86	22.54	20.19	22.16	19.34	22.49	- -	- -	29.06	32.96	31.88	25.15	20.27	19.84
EV/Free Cash Flow to Firm	- -	32.32	35.27	31.76	30.57	24.34	28.82	- -	- -	37.41	43.68	52.5	35.84	26.76	26.56
Diluted Market Cap	- -	30,217	31,389	40,004	41,783	45,397	61,532	69,914	100,613	98,935	130,180	99,621	100,559	84,735	81,910
Diluted Enterprise Value	- -	38,707	45,611	54,324	58,643	64,443	82,647	91,434	131,703	134,588	184,227	151,480	151,780	132,956	132,102
EV per Share	- -	97.17	114.66	136.09	138.55	150.33	191.78	206.62	296.03	302.02	405.77	326.66	325.1	284.18	282.37
TTM Sales	2,444	2,876	3,361	4,100	4,772	5,786	6,664	7,440	7,580	8,042	9,357	9,645	10,012	10,127	10,645
TTM EBITDA	1,476	1,764	2,014	2,491	2,898	3,379	3,714	4,016	4,467	4,770	5,465	6,094	6,212	6,641	6,887
TTM Operating Income	920	1,120	1,214	1,487	1,613	1,907	2,243	2,385	2,828	3,128	3,328	2,923	3,537	4,603	4,929
TTM Cash Flow to Firm	1,402	1,756	2,008	2,674	2,650	3,321	3,657	- -	- -	4,618	5,610	4,771	6,028	6,553	6,638
TTM Free Cash Flow to Firm	879	1,188	1,284	1,700	1,921	2,638	2,853	- -	- -	3,587	4,234	2,897	4,230	4,963	4,957

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	- -	35.7	35.89	34.48	29.05	22.48	29	24.66	36.44	34.72	37.81	54.66	34.39	22.9	21.65
EV/EBIT	- -	34.29	37.28	36.31	36.41	34.66	41.15	47.84	48.77	46.47	59.05	55.54	48.5	29.41	27.17
Enterprise Value	- -	38,390	45,275	53,985	58,729	64,222	82,238	91,134	131,109	134,195	184,939	152,097	151,593	132,823	131,676
Low Price	- -	54.38	68.01	78.44	86.51	82.93	101.79	132.44	154.11	179.74	198.39	181.86	156.76	169.47	172.23
EV/Sales	- -	13.35	13.47	13.17	12.31	11.1	12.34	12.25	17.3	16.69	19.76	15.77	15.14	13.12	12.37
EV/EBITDA	- -	21.76	22.47	21.67	20.26	19.01	22.14	22.69	29.35	28.13	33.84	24.96	24.4	20	19.12
Price/Earnings	- -	46.88	56.35	49.43	69.55	52.94	53	56.55	52.91	58.2	50.5	56.27	67.63	37.49	32.32
Price/Earnings Average	- -	42.06	54.45	44.45	67.15	52.6	47.93	51.8	47.29	63.25	45.46	62.55	60.82	42.16	37.02
Price/Earnings High	- -	47.7	60.38	51.76	72.39	59.09	56.42	59.94	57.16	71.13	53.33	75.84	73.2	49.93	43.14
Price/Earnings Low	- -	33.68	48.73	38.78	60.91	41.51	37.85	47.45	36.11	47.17	34.88	47.53	49.26	35.1	31.86
Price/Book Value	- -	8.37	8.79	10.03	6.29	6.68	9.79	13.05	19.78	24.07	25.76	17.99	23.91	25.01	22.31
Price/Book Value Average	- -	7.51	8.49	9.02	6.08	6.64	8.86	11.95	17.68	26.16	23.19	20	21.5	28.13	25.55
Price/Book Value High	- -	8.51	9.41	10.51	6.55	7.46	10.42	13.83	21.37	29.42	27.2	24.24	25.88	33.31	29.77
Price/Book Value Low	- -	6.01	7.6	7.87	5.51	5.24	6.99	10.95	13.5	19.51	17.8	15.2	17.41	23.42	21.99
Price/Tangible Book Value	- -	-12.08	-4.51	-5.75	-5.75	-4.71	-5.47	-6.14	-7.44	-5.79	-4.51	-3.95	-4.21	-3.7	-3.52
Price/Tangible Book Value Average	- -	-10.84	-4.35	-5.17	-5.55	-4.69	-4.94	-5.62	-6.65	-6.29	-4.06	-4.39	-3.79	-4.16	-4.03
Price/Tangible Book Value High	- -	-12.29	-4.83	-6.02	-5.99	-5.26	-5.82	-6.51	-8.04	-7.07	-4.77	-5.33	-4.56	-4.93	-4.7
Price/Tangible Book Value Low	- -	-8.68	-3.9	-4.51	-5.04	-3.7	-3.9	-5.15	-5.08	-4.69	-3.12	-3.34	-3.07	-3.46	-3.47
Price/Sales	- -	10.39	9.24	9.66	8.67	7.77	9.16	9.33	13.18	12.24	13.86	10.3	10.02	8.35	7.68
Price/Sales Average	- -	9.32	8.93	8.68	8.37	7.72	8.28	8.54	11.78	13.3	12.48	11.45	9.01	9.39	8.8
Price/Sales High	- -	10.57	9.9	10.11	9.03	8.67	9.75	9.88	14.24	14.95	14.63	13.88	10.84	11.12	10.25
Price/Sales Low	- -	7.46	7.99	7.58	7.59	6.09	6.54	7.83	8.99	9.92	9.57	8.7	7.3	7.82	7.57
Price/Cash Flow	- -	21.12	19.43	18.55	19.1	16.64	20.86	18.51	26.62	25.35	26.9	26.88	21.24	15.98	14.96
Price/Cash Flow Average	- -	18.95	18.77	16.68	18.44	16.54	18.86	16.96	23.79	27.55	24.22	29.88	19.1	17.97	17.14
Price/Cash Flow High	- -	21.49	20.82	19.42	19.87	18.58	22.21	19.62	28.76	30.98	28.41	36.23	22.99	21.28	19.97
Price/Cash Flow Low	- -	15.18	16.8	14.55	16.72	13.05	14.9	15.53	18.17	20.54	18.58	22.71	15.47	14.96	14.75
Price/Free Cash Flow Average	- -	32.03	34.68	31.01	28.05	22.34	26.22	22.59	32.57	37.73	34.04	60.76	30.92	25.75	24.79
Price/Free Cash Flow High	- -	36.33	38.46	36.11	30.24	25.1	30.87	26.14	39.36	42.43	39.93	73.67	37.22	30.5	28.89
Price/Free Cash Flow Low	- -	25.65	31.04	27.05	25.45	17.63	20.71	20.69	24.87	28.14	26.12	46.17	25.04	21.44	21.34
EV/Sales Average	- -	12.28	13.16	12.19	12.01	11.05	11.46	11.46	15.89	17.75	18.37	16.93	14.13	14.16	13.48
EV/Sales High	- -	13.53	14.13	13.62	12.67	12.01	12.93	12.81	18.35	19.41	20.55	19.38	15.97	15.89	14.93
EV/Sales Low	- -	10.42	12.22	11.08	11.22	9.42	9.72	10.74	13.11	14.37	15.44	14.16	12.42	12.58	12.26
EV/EBITDA Average	- -	20.02	21.95	20.07	19.77	18.92	20.57	21.24	26.97	29.93	31.45	26.8	22.77	21.59	20.84
EV/EBITDA High	- -	22.06	23.58	22.43	20.85	20.56	23.2	23.73	31.15	32.72	35.19	30.68	25.73	24.23	23.08
EV/EBITDA Low	- -	16.99	20.39	18.24	18.47	16.12	17.44	19.9	22.24	24.22	26.44	22.41	20.01	19.19	18.95
EV/EBIT Average	- -	31.54	36.42	33.62	35.52	34.51	38.22	44.77	44.82	49.44	54.88	59.63	45.26	31.74	29.61
EV/EBIT High	- -	34.75	39.11	37.56	37.47	37.49	43.12	50.03	51.75	54.06	61.39	68.27	51.15	35.62	32.8
EV/EBIT Low	- -	26.77	33.83	30.56	33.19	29.4	32.41	41.96	36.95	40.01	46.13	49.86	39.78	28.21	26.93
Last Price	- -	75.68	78.64	99.99	98.78	105.75	142.54	157.83	225.83	221.78	287.19	215.28	215.26	181.01	174.74
High Price	- -	77	84.27	104.7	102.81	118.04	151.72	167.29	243.96	271.05	303.29	290.15	232.98	241.08	233.2
Enterprise Value Average	- -	35,314	44,227	49,993	57,284	63,939	76,387	85,291	120,486	142,751	171,881	163,290	141,473	143,375	143,508
Enterprise Value High	- -	38,913	47,496	55,856	60,438	69,473	86,177	95,304	139,136	156,090	192,278	186,960	159,857	160,897	158,935
Enterprise Value Low	- -	29,973	41,078	45,439	53,528	54,472	64,763	79,934	99,346	115,519	144,467	136,538	124,317	127,430	130,506

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	394	395	395	397	424	427	429	441	443	444	456	466	466	467	466
Diluted Weighted Avg Shares	400	399	399	400	423	429	432	443	446	446	453	463	467	468	469
Basic Weighted Avg Shares	396	395	395	396	419	425	428	440	442	444	451	462	466	467	468
Revenue per Share	6.18	7.29	8.51	10.35	11.39	13.61	15.56	16.92	17.14	18.13	20.72	20.9	21.48	21.69	22.75
EBITDA per Share	3.73	4.47	5.1	6.29	6.92	7.95	8.67	9.13	10.1	10.75	12.1	13.2	13.33	14.22	14.72
Operating Income per Share	2.33	2.84	3.07	3.76	3.85	4.48	5.24	5.42	6.39	7.05	7.37	6.33	7.59	9.86	10.53
Basic EPS, GAAP	1	1.61	1.4	2.02	1.42	2	2.69	2.79	4.27	3.81	5.69	3.83	3.18	4.83	5.41
Basic EPS from Cont Ops	0.96	1.5	1.22	2.03	1.6	2.28	2.86	2.88	4.33	3.81	5.69	4.28	3.09	6.98	5.62
Diluted EPS, GAAP	0.99	1.6	1.38	2	1.41	1.98	2.67	2.77	4.24	3.79	5.66	3.82	3.18	4.82	5.4
Diluted EPS from Cont Ops	0.95	1.49	1.21	2.01	1.59	2.26	2.84	2.86	4.3	3.79	5.66	4.26	3.08	6.96	5.61
Dividend per Share	0.35	0.9	1.1	1.06	1.9	2.34	2.72	3.05	3.62	4.35	5.03	5.7	6.33	6.58	6.75
Cash Flow per Share	2.95	3.58	4.05	5.39	5.17	6.35	6.83	8.53	8.48	8.75	10.68	8.01	10.13	11.33	11.68
Free Cash Flow per Basic Share	1.62	2.14	2.21	2.93	3.43	4.75	4.96	6.45	6.24	6.42	7.63	3.95	6.27	7.92	8.09
Cash & Equivalents per Share	0.9	0.95	0.79	0.81	0.76	1.85	1.87	2.74	3.39	3.93	4.28	4.36	3.76	4.28	3.16
Book Value per Share	8.35	9.04	8.95	9.97	15.69	15.83	14.56	12.1	11.41	9.21	11.15	11.97	9	7.24	7.83
Tangible Book Value per Share	-4.79	-6.27	-17.45	-17.4	-17.17	-22.43	-26.07	-25.71	-30.35	-38.33	-63.62	-54.48	-51.08	-48.91	-49.61