Pitney Bowes Inc. Financial Ratios — PBW 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 (%)	- -	- -	90.82	237.3	320.05	- -	- -	167	100.28	-101.13	-1.47	42.63	- -	- -	- -
Return on Assets (%)	7.67	5.79	2.2	5.31	6.75	1.87	3.89	3.83	3.41	-3.37	-0.03	0.76	-8.56	-5.31	4.41
Return on Capital (%)	16.69	13.29	6.47	12.19	15.07	4.81	9.7	9.36	- -	- -	- -	3.97	- -	- -	15.85
Return on Invested Capital (%)	11.96	11.09	10.48	11.98	12.9	4.36	8.21	8.38	- -	- -	- -	8.25	- -	- -	16.3
Gross Margin (%)	58.57	58.62	56.46	56.02	56.44	58.77	52.3	44.25	40.02	32.34	30.54	44.36	49.57	52.42	54.1
EBITDA Margin (%)	20.68	22.9	19.44	20.04	21.71	15.77	16.08	14.77	9.13	2.29	6.9	15.77	7.66	12.89	21.83
Operating Margin (%)	16.96	16.67	16.09	17.07	17.59	16.92	13.14	11.2	7.09	4.16	4.11	11.29	10.56	15.42	20.45
Incremental Operating Margin (%)	13.34	20.7	83.78	139.8	9.46	20.92	70.3	- -	2,070.67	- -	2.8	- -	15.07	- -	- -
Pretax Margin (%)	11.91	13.38	10.13	11.28	17.07	6.77	6.96	5.86	0.83	-5.16	-0.2	7.6	-2.11	-2.58	10.17
Profit Margin (%)	15.41	12.12	4.25	9.21	11.91	3.75	8.75	7.53	6.06	-5.08	-0.04	1.49	-18.55	-10.05	7.65
Net Income to Common Margin (%)	14.97	11.64	3.77	8.73	11.4	3.11	8.75	7.53	6.06	-5.08	-0.04	1.49	-18.55	-10.05	7.65
Effective Tax Rate (%)	7.23	22.33	20.31	26.16	31.07	53.01	7.05	3.41	- -	- -	- -	22.77	- -	- -	24.84
Dvd Payout Ratio (%)	61.67	74.44	59.27	44.41	32.72	160.44	77.47	77.32	88.71	-18	992.3	23.83	-57.48	35.08	35.29
Sustainable Growth Rate (%)	- -	- -	36.99	131.91	215.34	- -	- -	37.88	11.32	-119.34	13.16	32.48	- -	- -	- -

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	4,234	4,017	3,346	3,252	2,951	3,365	3,830	3,426	2,953	2,784	2,556	2,524	2,302	2,047	2,121
ST Debt	550	375	- -	325	461	614	271	235	56	255	65	85	89	80	46
LT Debt	3,684	3,642	3,346	2,927	2,490	2,750	3,559	3,191	2,897	2,529	2,491	2,438	2,214	1,967	2,076
Total Debt/EBITDA	4.96	4.59	4.54	4.25	3.8	7.16	8.55	7.22	10.1	34.24	10.09	6.45	14.45	7.84	5.13
Net Debt/EBITDA	3.96	3.54	3.31	2.87	2.97	5.53	6.3	5.06	6.2	20.21	6.28	3.92	9.7	5.55	4.13
Total Debt/EBIT	7.29	6.48	6.36	5.73	4.89	11.37	11.93	10.51	22.14	-35.09	28.25	9	49.42	13.95	7.03
Net Debt/EBIT	5.81	5.01	4.64	3.87	3.83	8.78	8.79	7.36	13.61	-20.71	17.59	5.48	33.18	9.88	5.67
EBITDA to Interest Expense	7.4	7.6	6.75	8.43	8.87	5.28	3.79	4.11	2.64	0.77	2.61	4.48	1.61	2.37	4.07
EBITDA-CapEx/Interest Expense	7.4	7.6	6.75	8.43	8.87	5.28	3.79	4.11	2.64	0.77	2.61	4.48	1.61	2.37	4.07
EBIT to Interest Expense	6.07	5.53	5.58	7.18	7.19	5.67	3.1	3.12	2.05	1.4	1.56	3.21	2.22	2.84	3.81
Interest Expense	115	115	109	91	88	89	118	115	111	106	97	87	99	110	101
Common Equity/Total Assets	-4.12	1.4	3.02	1.18	2.91	-1.78	2.81	1.71	5.23	1.35	2.27	1.28	-8.63	-17.03	-25.32
Long-Term Debt/Equity (%)	- -	3,292.36	1,630.94	3,788.72	1,393	- -	1,887.6	3,133.65	1,012.71	3,580.6	2,211.8	4,019.91	- -	- -	- -
Long-Term Debt/Capital (%)	87.82	88.24	94.22	87.92	79.55	84.34	88.56	90.46	89.43	88.59	93.34	94.35	114.47	133.92	157.39
Long-Term Debt/Total Assets (%)	45.22	46.34	49.41	45.03	40.66	47.12	53.22	53.74	53	48.4	50.24	51.42	51.82	57.9	65.5
Total Debt/Equity (%)	-10,860.08	3,631.33	1,630.94	4,209.23	1,650.99	-3,246.08	2,031.35	3,364.14	1,032.34	3,941.98	2,269.54	4,160.62	-624.7	-353.96	-264.37
Total Debt/Capital (%)	100.93	97.32	94.22	97.68	94.29	103.18	95.31	97.11	91.17	97.53	95.78	97.65	119.06	139.38	160.84
Total Debt/Total Assets (%)	51.97	51.11	49.41	50.03	48.19	57.65	57.28	57.69	54.03	53.29	51.55	53.22	53.89	60.26	66.94
Net Debt to Equity	-8,663.8	2,805.81	1,188.49	2,844.83	1,292.78	-2,508.55	1,496.23	2,354.97	634.5	2,326.42	1,412.88	2,531.26	-419.45	-250.67	-212.89
Net Debt/Capital (%)	101.17	96.56	92.24	96.6	92.82	104.15	93.74	90.14	78.41	84.99	82.18	80.2	115.9	145.1	165.21
EBITDA	853	876	737	766	777	470	448	474	293	81	253	391	159	261	413
EBITDA-CapEx	853	876	737	766	777	470	448	474	293	81	253	391	159	261	413
Operating Income (Loss)	700	637	610	652	629	505	366	360	227	148	151	280	220	312	387

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	0.28	0.33	0.42	0.48	0.34	0.34	0.51	0.49	0.66	0.5	0.43	0.39	0.33	0.29	0.19
Current Ratio	1.05	1.12	1.27	1.19	1.02	1	1.37	1.43	1.42	1.13	1.09	1.04	1.08	0.79	0.71
Quick Ratio	0.95	1.01	1.14	1.11	0.95	0.93	1.15	1.04	1.31	1.03	0.96	0.93	0.73	0.71	0.62
CFO/Avg Current Liab	0.34	0.22	0.24	0.29	0.23	0.22	0.21	0.17	0.15	0.18	0.17	0.1	0.04	0.13	0.24
Common Equity/Total Assets	-4.12	1.4	3.02	1.18	2.91	-1.78	2.81	1.71	5.23	1.35	2.27	1.28	-8.63	-17.03	-25.32
Long-Term Debt/Equity (%)	- -	3,292.36	1,630.94	3,788.72	1,393	- -	1,887.6	3,133.65	1,012.71	3,580.6	2,211.8	4,019.91	- -	- -	- -
Long-Term Debt/Capital (%)	87.82	88.24	94.22	87.92	79.55	84.34	88.56	90.46	89.43	88.59	93.34	94.35	114.47	133.92	157.39
Long-Term Debt/Total Assets (%)	45.22	46.34	49.41	45.03	40.66	47.12	53.22	53.74	53	48.4	50.24	51.42	51.82	57.9	65.5
Total Debt/Equity (%)	-10,860.08	3,631.33	1,630.94	4,209.23	1,650.99	-3,246.08	2,031.35	3,364.14	1,032.34	3,941.98	2,269.54	4,160.62	-624.7	-353.96	-264.37
Total Debt/Capital (%)	100.93	97.32	94.22	97.68	94.29	103.18	95.31	97.11	91.17	97.53	95.78	97.65	119.06	139.38	160.84
Total Debt/Total Assets (%)	51.97	51.11	49.41	50.03	48.19	57.65	57.28	57.69	54.03	53.29	51.55	53.22	53.89	60.26	66.94
CFO/Total Liabilities	11.59	8.52	9.51	10.25	8.8	8.35	6.99	5.91	5.17	5.86	6.22	3.74	1.73	5.76	9.65
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.53	2.5	3.11	3.29	3.5	3.16	2.83	3.02	3.21	3.1	3.28	3.05	2.17	2.59	2.88

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	2.98	1.97	2.17	2.54	2.53	2.17	2.14	2.82	3.16	3.63	5.69	7.32	7.65	11.25	11.54
Days Sales Outstanding	122.4	185.72	167.96	143.76	144.47	168	170.73	129.57	115.48	100.67	64.18	49.85	47.74	32.44	31.63
Inventory Turnover	9.83	8.83	11.65	17.84	17.95	13.54	19.89	34.75	29.46	34.42	34.01	17.02	14.29	15.69	13.78
Days Inventory Outstanding	37.12	41.32	31.32	20.46	20.33	26.95	18.35	10.5	12.39	10.6	10.73	21.44	25.55	23.26	26.48
Accounts Payable Turnover	1.91	4.54	4.97	6.17	5.48	4.14	4.41	6.4	6.85	8.34	8.44	4.43	1.8	1.8	3.73
Accounts Payable Turnover Days	191.5	80.33	73.37	59.14	66.65	88.15	82.73	56.99	53.28	43.75	43.24	82.44	203.3	203.02	97.96
Cash Conversion Cycle	-31.98	146.72	125.91	105.08	98.16	106.8	106.35	83.08	74.59	67.52	31.68	-11.15	-130.01	-147.33	-39.85
Inventory to Cash Days	85.29	144.4	136.64	123.3	124.14	141.05	152.39	119.06	103.09	90.06	53.45	28.41	22.19	9.18	5.15
Inventories	179	180	104	85	89	93	41	62	68	71	79	84	63	60	66
Raw Materials	132	139	82	65	70	74	33	30	35	41	48	53	40	36	45
Work In Process	- -	- -	- -	6	6	6	5	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	72	68	39	27	25	25	13	37	37	31	30	31	23	24	21
Other Inventory	- -	- -	- -	- -	- -	- -	-5	- -	- -	6	- -	- -	- -	- -	- -

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	3,696	2,092	4,751	5,038	4,069	2,839	2,077	1,106	659	1,076	1,124	646	759	1,291	1,585
- Cash & Cash Equivalents	856	913	908	1,054	640	765	1,009	867	924	921	732	670	600	470	285
+ Preferred Equity and Hybrid Capital	1	1	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	296	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	4,234	4,017	3,346	3,252	2,951	3,365	3,830	3,426	2,953	2,784	2,556	2,524	2,302	2,047	2,121
Enterprise Value	7,358	5,160	7,159	7,187	6,252	5,401	4,850	3,606	2,572	2,919	2,934	2,489	2,440	2,853	3,409
Total Capital	4,195	4,128	3,551	3,329	3,129	3,261	4,019	3,528	3,240	2,854	2,669	2,584	1,934	1,469	1,319
Total Debt/Capital (%)	100.93	97.32	94.22	97.68	94.29	103.18	95.31	97.11	91.17	97.53	95.78	97.65	119.06	139.38	160.84
Total Debt / EV	0.58	0.78	0.47	0.45	0.47	0.62	0.79	0.95	1.15	0.95	0.87	1.01	0.94	0.72	0.62
EV/Sales	1.78	1.35	1.89	1.88	1.75	1.81	1.74	1.12	0.8	0.82	0.8	1	1.17	1.41	1.8
EV/EBITDA	8.62	5.89	9.71	9.38	8.05	11.49	10.83	7.6	8.79	35.91	11.58	6.36	15.31	10.92	8.25
EV/EBIT	12.66	8.32	13.61	12.66	10.36	18.25	15.11	11.06	19.28	- -	32.42	8.88	52.36	19.43	11.31
EV/Cash Flow to Firm	6.97	6.88	10.06	9.91	10.72	10.04	8.6	7.91	- -	- -	- -	10.26	- -	- -	7.42
EV/Free Cash Flow to Firm	6.97	6.88	10.06	9.91	10.72	10.04	8.6	7.91	- -	- -	- -	10.26	- -	- -	7.42
Diluted Market Cap	3,746	2,098	4,798	5,111	4,181	2,890	2,086	1,110	686	1,073	1,153	658	756	1,292	1,820
Diluted Enterprise Value	7,408	5,166	7,206	7,261	6,365	5,452	4,859	3,610	2,599	2,916	2,962	2,501	2,436	2,853	3,644
EV per Share	36.84	25.69	35.43	35.75	31.98	29.09	25.99	19.21	15.09	16.97	16.79	14.3	13.83	15.64	22.62
TTM Sales	4,125	3,824	3,791	3,822	3,578	2,981	2,784	3,212	3,205	3,554	3,674	2,483	2,079	2,027	1,893
TTM EBITDA	853	876	737	766	777	470	448	474	293	81	253	391	159	261	413
TTM Operating Income	700	637	610	652	629	505	366	360	227	148	151	280	220	312	387
TTM Cash Flow to Firm	1,056	750	712	725	583	538	564	456	- -	- -	- -	242	- -	- -	460
TTM Free Cash Flow to Firm	1,056	750	712	725	583	538	564	456	- -	- -	- -	242	- -	- -	460

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	3.95	3.18	7.68	7.76	8	5.82	4.59	3.22	2.56	3.55	3.82	3.76	9.44	5.64	4.75
EV/EBIT	12.66	8.32	13.61	12.66	10.36	18.25	15.11	11.06	19.28	- -	32.42	8.88	52.36	19.43	11.31
Enterprise Value	7,358	5,160	7,159	7,187	6,252	5,401	4,850	3,606	2,572	2,919	2,934	2,489	2,440	2,853	3,409
Low Price	17.23	10.41	10.69	21.06	18.73	14.11	9.48	5.73	3.13	1.79	6.03	2.3	2.77	3.7	6.95
EV/Sales	1.78	1.35	1.89	1.88	1.75	1.81	1.74	1.12	0.8	0.82	0.8	1	1.17	1.41	1.8
EV/EBITDA	8.62	5.89	9.71	9.38	8.05	11.49	10.83	7.6	8.79	35.91	11.58	6.36	15.31	10.92	8.25
Price/Earnings	6.05	4.69	33.12	15.19	10.2	30.79	8.53	4.58	3.52	- -	- -	17.69	- -	- -	12.47
Price/Earnings Average	7.26	6.75	23.21	15.47	10.61	36.33	10.33	7.21	4.68	- -	- -	19.51	- -	- -	11.84
Price/Earnings High	8.51	8.75	33.45	16.96	12.06	43.67	12.62	11.04	7.38	- -	- -	32.46	- -	- -	15.05
Price/Earnings Low	5.63	4.69	15.06	12.76	9.18	28.41	7.27	4.45	2.85	- -	- -	10.97	- -	- -	8.24
Price/Book Value	-11	19.02	23.23	65.67	22.83	-27.26	11.04	10.9	2.3	15.23	9.98	10.66	-2.06	-2.23	-1.98
Price/Book Value Average	-13.2	27.38	16.28	66.89	23.75	-32.17	13.37	17.15	3.06	9.95	12.28	11.76	-1.77	-1.8	-1.87
Price/Book Value High	-15.48	35.46	23.46	73.32	26.99	-38.66	16.33	26.27	4.83	18.4	20.66	19.56	-2.3	-2.69	-2.38
Price/Book Value Low	-10.24	19.02	10.56	55.19	20.55	-25.16	9.41	10.6	1.87	4.35	9.36	6.61	-1.33	-1.17	-1.3
Price/Tangible Book Value	-1.37	-0.95	-2.88	-3	-2.32	-1.54	-1.12	-0.77	-0.54	-0.87	-0.97	-0.6	-0.68	-0.98	-1.01
Price/Tangible Book Value Average	-1.65	-1.37	-2.02	-3.06	-2.41	-1.82	-1.35	-1.21	-0.71	-0.57	-1.2	-0.66	-0.58	-0.79	-0.96
Price/Tangible Book Value High	-1.93	-1.78	-2.91	-3.35	-2.74	-2.19	-1.65	-1.85	-1.12	-1.05	-2.02	-1.09	-0.75	-1.18	-1.22
Price/Tangible Book Value Low	-1.28	-0.95	-1.31	-2.52	-2.09	-1.42	-0.95	-0.74	-0.43	-0.25	-0.91	-0.37	-0.44	-0.51	-0.67
Price/Sales	0.91	0.55	1.25	1.33	1.16	0.96	0.75	0.34	0.21	0.3	0.24	0.26	0.36	0.63	0.95
Price/Sales Average	1.09	0.79	0.87	1.35	1.21	1.13	0.9	0.54	0.28	0.2	0.29	0.29	0.31	0.5	0.9
Price/Sales High	1.27	1.02	1.26	1.48	1.37	1.36	1.1	0.83	0.45	0.36	0.49	0.48	0.4	0.75	1.15
Price/Sales Low	0.84	0.55	0.57	1.11	1.05	0.88	0.64	0.34	0.17	0.09	0.22	0.16	0.23	0.33	0.63
Price/Cash Flow	3.93	3.16	7.57	7.7	7.96	5.76	4.57	3.21	2.55	3.55	2.88	3.73	9.42	5.54	4.71
Price/Cash Flow Average	4.72	4.55	5.31	7.84	8.28	6.8	5.54	5.06	3.39	2.32	3.55	4.12	8.09	4.46	4.47
Price/Cash Flow High	5.54	5.9	7.65	8.6	9.41	8.17	6.77	7.74	5.35	4.29	5.97	6.85	10.5	6.68	5.68
Price/Cash Flow Low	3.66	3.16	3.44	6.47	7.16	5.32	3.9	3.12	2.07	1.01	2.7	2.31	6.07	2.9	3.11
Price/Free Cash Flow Average	4.74	4.57	5.38	7.91	8.32	6.87	5.56	5.07	3.4	2.32	4.7	4.15	8.1	4.53	4.51
Price/Free Cash Flow High	5.55	5.92	7.76	8.67	9.45	8.26	6.79	7.76	5.37	4.29	7.91	6.9	10.52	6.79	5.73
Price/Free Cash Flow Low	3.68	3.18	3.49	6.52	7.2	5.37	3.91	3.13	2.07	1.02	3.58	2.33	6.08	2.95	3.14
EV/Sales Average	1.96	1.59	1.51	1.91	1.79	1.98	1.9	1.32	0.87	0.72	0.87	1.03	1.12	1.28	1.76
EV/Sales High	2.15	1.82	1.9	2.03	1.95	2.21	2.1	1.61	1.03	0.88	1.13	1.22	1.22	1.54	1.97
EV/Sales Low	1.72	1.35	1.2	1.67	1.63	1.74	1.63	1.11	0.76	0.61	0.78	0.9	1.04	1.1	1.52
EV/EBITDA Average	9.49	6.94	7.78	9.51	8.26	12.58	11.81	8.94	9.53	31.32	12.6	6.53	14.64	9.95	8.06
EV/EBITDA High	10.39	7.96	9.78	10.15	9	14.02	13.05	10.89	11.26	38.66	16.33	7.74	15.86	11.92	9.04
EV/EBITDA Low	8.33	5.89	6.2	8.33	7.53	11.02	10.15	7.54	8.36	26.45	11.3	5.73	13.62	8.56	6.95
EV/EBIT Average	13.94	9.8	10.91	12.82	10.63	19.97	16.48	13.01	20.9	- -	35.28	9.12	50.05	17.71	11.04
EV/EBIT High	15.25	11.24	13.71	13.69	11.59	22.26	18.21	15.85	24.7	- -	45.72	10.81	54.23	21.22	12.39
EV/EBIT Low	12.22	8.32	8.69	11.24	9.69	17.51	14.15	10.97	18.34	- -	31.65	8	46.56	15.23	9.52
Last Price	18.5	10.41	23.51	25.06	20.81	15.29	11.13	5.89	3.87	6.25	6.43	3.71	4.31	7.08	10.52
High Price	26.04	19.42	23.75	27.98	24.6	21.69	16.46	14.2	8.11	7.56	13.32	6.82	4.8	8.52	12.69
Enterprise Value Average	8,098	6,080	5,738	7,280	6,416	5,912	5,288	4,240	2,788	2,546	3,192	2,556	2,332	2,600	3,328
Enterprise Value High	8,863	6,968	7,208	7,774	6,993	6,589	5,844	5,165	3,295	3,143	4,137	3,029	2,527	3,116	3,736
Enterprise Value Low	7,104	5,160	4,568	6,383	5,846	5,182	4,543	3,575	2,447	2,151	2,863	2,243	2,170	2,236	2,871

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	200	201	202	201	196	186	187	188	170	172	175	174	176	182	151
Diluted Weighted Avg Shares	202	201	204	204	201	189	187	188	177	172	179	177	176	183	173
Basic Weighted Avg Shares	202	201	201	202	200	187	187	188	177	171	135	176	175	180	172
Revenue per Share	20.44	19.07	18.85	18.89	17.89	15.95	14.91	17.09	18.12	20.75	27.19	14.11	11.86	11.29	11.03
EBITDA per Share	4.23	4.37	3.66	3.79	3.88	2.52	2.4	2.52	1.65	0.47	1.88	2.23	0.91	1.46	2.41
Operating Income per Share	3.47	3.18	3.03	3.23	3.15	2.7	1.96	1.91	1.28	0.86	1.12	1.59	1.25	1.74	2.26
Basic EPS, GAAP	3.06	2.22	0.71	1.65	2.04	0.5	1.3	1.29	1.1	-1.05	-0.01	0.21	-2.2	-1.13	0.84
Basic EPS from Cont Ops	2.26	1.98	1.52	1.57	2.11	0.51	0.96	0.97	0.23	-1.11	0.03	0.83	-0.35	0.57	0.84
Diluted EPS, GAAP	3.05	2.21	0.7	1.64	2.03	0.49	1.3	1.28	1.1	-1.05	-0.01	0.21	-2.2	-1.12	0.84
Diluted EPS from Cont Ops	2.25	1.97	1.5	1.56	2.1	0.5	0.96	0.96	0.22	-1.11	0.02	0.82	-0.35	0.56	0.84
Dividend per Share	1.48	1.5	0.94	0.75	0.75	0.75	0.75	0.75	0.2	0.2	0.26	0.2	0.2	0.2	0.3
Cash Flow per Share	4.7	3.29	3.11	3.25	2.62	2.65	2.43	1.83	1.51	1.76	2.23	1	0.46	1.28	2.23
Free Cash Flow per Basic Share	4.7	3.29	3.11	3.25	2.62	2.65	2.43	1.83	1.51	1.76	2.23	1	0.46	1.28	2.23
Cash & Equivalents per Share	4.35	4.73	4.65	5.49	3.93	4.32	5.67	4.94	6.1	5.47	4.27	3.91	3.53	2.66	1.97
Book Value per Share	-1.68	0.55	1.01	0.38	0.91	-0.56	1.01	0.54	1.68	0.41	0.64	0.35	-2.09	-3.17	-5.32
Tangible Book Value per Share	-13.5	-10.91	-8.17	-8.35	-8.98	-9.91	-9.96	-7.69	-7.21	-7.22	-6.61	-6.23	-6.37	-7.21	-10.38