ITT Educational Services, Inc. Financial Ratios — ESINQ

Profitability (USD)

	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Return on Common Equity (%)	25.32	26.27	28.93	29.15	32.05	26.37	29.13	32.23	34.79	48.83	45.69	15.55	-2.84	2.45	2.39
Return on Assets (%)	19.54	19.85	19.27	17.57	20.21	20.56	27.53	35.07	49.02	57.94	44.04	19.8	-3.65	2.99	3.29
Return on Capital (%)	25.32	26.27	28.93	29.15	32.05	22.6	23.38	26.36	29.68	40.96	37.53	13.6	- -	3.64	3.76
Return on Invested Capital (%)	44.84	50.47	49.03	38.26	38.31	40.34	62.46	70.87	91.12	125.68	104.96	53.48	- -	10.9	12.6
Gross Margin (%)	40.6	43.48	46.45	51.65	52.28	52.91	58.76	62.2	65.9	66.31	63.13	58.16	54.64	52.09	54.04
EBITDA Margin (%)	17.53	19.69	22.13	22.3	26.64	26.81	30.51	34.24	38.94	40.11	35.81	21.36	10.98	10.85	13.11
Operating Margin (%)	12.9	15.04	18.08	19.35	24.05	23.96	27.84	32.06	37.05	38.43	33.95	19.08	8.44	8.1	10.53
Incremental Operating Margin (%)	18.83	30.9	38.13	26.35	65.4	23.06	54.15	57.22	53.75	44.98	108.02	123.62	72.32	11.46	-10.35
Pretax Margin (%)	13.58	15.63	18.46	19.97	25.33	25.02	28.12	32.24	37.25	38.47	34.02	17.72	-3.47	4.17	4.64
Profit Margin (%)	8.43	9.66	11.26	12.18	15.95	15.64	17.43	19.85	22.76	23.44	20.61	10.8	-2.52	2.42	2.74
Net Income to Common Margin (%)	8.43	9.66	11.26	12.18	15.95	15.64	17.43	19.85	22.76	23.44	20.61	10.8	-2.52	2.42	2.74
Effective Tax Rate (%)	37.93	38.23	39.02	39	37.05	37.5	38	38.45	38.89	39.07	39.43	39.05	- -	41.91	40.87
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	25.32	26.27	28.93	29.15	32.05	26.37	29.13	32.23	34.79	48.83	45.69	15.55	-2.84	2.45	2.39

Credit (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Total Debt	- -	- -	- -	- -	- -	150	150	150	150	150	150	140	279	304	235
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	208	68	112
LT Debt	- -	- -	- -	- -	- -	150	150	150	150	150	150	140	71	236	122
Total Debt/EBITDA	- -	- -	- -	- -	- -	0.74	0.57	0.43	0.29	0.23	0.28	0.51	2.37	2.92	2.11
Net Debt/EBITDA	-0.91	-1.39	-0.37	-0.07	-0.07	-0.06	0.54	-0.22	0.04	-0.02	-0.15	-0.38	0.54	1.61	0.93
Total Debt/EBIT	- -	- -	- -	- -	- -	0.83	0.62	0.46	0.31	0.24	0.29	0.57	3.08	3.91	2.62
Net Debt/EBIT	-1.23	-1.81	-0.46	-0.08	-0.08	-0.07	0.59	-0.23	0.04	-0.02	-0.16	-0.42	0.7	2.16	1.16
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	31.99	75.41	707.58	333.86	294.32	73.83	4.66	2.76	2.8
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	30.47	71.48	701.74	330.67	292.1	73.55	4.63	2.76	2.8
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	29.19	70.58	673.27	319.89	279.04	65.95	3.58	2.06	2.24
Interest Expense	- -	- -	- -	- -	- -	- -	8	5	1	2	2	4	25	38	40
Common Equity/Total Assets	76.65	74.66	61.1	59.68	65.86	90.79	98.33	118.13	163.36	77.81	113.61	142.1	116.6	128.06	148.73
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	144.31	212.59	86.28	95.79	117.12	88.86	111.32	61.69	166.22	75.98
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	22.77	22	17.27	12.96	22.22	15.34	12.73	5.85	18.62	10.02
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	26.77	27.73	24.66	24.32	22.23	20.58	20.73	8.84	31.37	18.44
Total Debt/Equity (%)	- -	- -	- -	- -	- -	144.31	212.59	86.28	95.79	117.12	88.86	111.32	241.45	214.07	145.62
Total Debt/Capital (%)	- -	- -	- -	- -	- -	22.77	22	17.27	12.96	22.22	15.34	12.73	22.89	23.98	19.2
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	26.77	27.73	24.66	24.32	22.23	20.58	20.73	34.61	40.4	35.34
Net Debt to Equity	-81.47	-139.21	-29.46	-3.99	-4.45	-11.45	202.35	-43.86	13.55	-10.76	-46.8	-82.27	54.87	118.39	64.39
Net Debt/Capital (%)	-74.79	-203.12	-24.06	-3.29	-3.65	-2.4	21.16	-11.87	2.06	-2.7	-10.55	-12.09	6.32	14.85	9.51
EBITDA	70	89	116	138	183	203	265	348	514	640	537	275	118	104	111
EBITDA-CapEx	49	55	76	102	137	161	253	330	509	634	533	274	117	104	111
Operating Income (Loss)	52	68	95	120	165	182	242	325	489	614	509	246	91	78	89

Liquidity (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Cash Ratio	0.99	1.05	1.15	1.47	1.6	1.25	1.06	1.38	0.96	0.88	1.09	0.74	0.46	0.42	0.4
Current Ratio	1.26	1.22	1.27	1.6	1.74	1.34	1.2	1.63	1.37	1.16	1.32	1.18	0.92	0.9	0.74
Quick Ratio	1.11	1.11	1.19	1.51	1.66	1.29	1.12	1.49	1.26	1.07	1.23	0.99	0.68	0.56	0.54
CFO/Avg Current Liab	0.51	1.02	0.88	0.63	0.64	0.61	0.62	0.62	1.1	1.74	1.11	0.32	0.19	0.34	0.24
Common Equity/Total Assets	76.65	74.66	61.1	59.68	65.86	90.79	98.33	118.13	163.36	77.81	113.61	142.1	116.6	128.06	148.73
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	144.31	212.59	86.28	95.79	117.12	88.86	111.32	61.69	166.22	75.98
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	22.77	22	17.27	12.96	22.22	15.34	12.73	5.85	18.62	10.02
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	26.77	27.73	24.66	24.32	22.23	20.58	20.73	8.84	31.37	18.44
Total Debt/Equity (%)	- -	- -	- -	- -	- -	144.31	212.59	86.28	95.79	117.12	88.86	111.32	241.45	214.07	145.62
Total Debt/Capital (%)	- -	- -	- -	- -	- -	22.77	22	17.27	12.96	22.22	15.34	12.73	22.89	23.98	19.2
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	26.77	27.73	24.66	24.32	22.23	20.58	20.73	34.61	40.4	35.34
CFO/Total Liabilities	40.83	79.93	70.07	52.74	54.31	35.9	37.9	39.81	65.47	102.17	69.42	19.59	11.24	22.39	15.25
CFO/CapEx	2.2	3.72	3.79	3.84	3.32	3.84	14.16	9.56	71.12	91.3	95.92	102.89	114.47	- -	- -
Altman's Z-Score	8.7	8	9.16	8.28	9.14	7.63	8.97	10.51	11.94	8.88	7.81	5.65	3.96	3.58	3.75

Working Capital (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Accounts Receivable Turnover	63.11	41.95	56.92	62.32	56.35	64.89	70.98	45.22	22.9	20.69	25.63	20.26	12.02	13.18	17.85
Days Sales Outstanding	5.78	8.7	6.41	5.86	6.48	5.63	5.14	8.07	15.94	17.65	14.24	18.02	30.37	27.69	20.45
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	14.72	15.02	10.24	8.5	7.31	6.86	7.71	7.68	7.75	8.33	7.54	7.57	8.02	7.32	6.12
Accounts Payable Turnover Days	24.79	24.29	35.66	42.95	49.95	53.21	47.36	47.52	47.1	43.84	48.44	48.2	45.53	49.85	59.62
Cash Conversion Cycle	-19.01	-15.59	-29.24	-37.1	-43.47	-47.59	-42.22	-39.45	-31.16	-26.19	-34.2	-30.18	-15.15	-22.17	-39.17
Inventory to Cash Days	5.78	8.7	6.41	5.86	6.48	5.63	5.14	8.07	15.94	17.65	14.24	18.02	30.37	27.69	20.45
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Market Capitalization	875	1,076	2,110	2,177	2,727	2,835	3,434	3,693	3,598	2,112	1,560	413	786	226	88
- Cash & Cash Equivalents	64	124	43	9	14	162	7	226	129	164	229	243	216	136	131
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	150	150	150	150	150	150	140	279	304	235
Enterprise Value	770	926	1,878	1,835	2,325	2,629	3,273	3,478	3,475	1,949	1,333	310	850	394	192
Total Capital	149	185	222	294	390	659	682	869	1,157	675	978	1,099	1,220	1,268	1,222
Total Debt/Capital (%)	- -	- -	- -	- -	- -	22.77	22	17.27	12.96	22.22	15.34	12.73	22.89	23.98	19.2
Total Debt / EV	- -	- -	- -	- -	- -	0.06	0.05	0.04	0.04	0.08	0.11	0.45	0.33	0.77	1.22
EV/Sales	1.93	2.04	3.59	2.97	3.38	3.47	3.76	3.43	2.63	1.22	0.89	0.24	0.79	0.41	0.23
EV/EBITDA	10.98	10.36	16.23	13.32	12.69	12.94	12.34	10	6.77	3.04	2.48	1.13	7.21	3.78	1.72
EV/EBIT	14.93	13.56	19.87	15.35	14.06	14.48	13.52	10.69	7.11	3.18	2.62	1.26	9.39	5.06	2.15
EV/Cash Flow to Firm	16.26	7.3	12.34	13.47	15.08	16.04	17.84	19.78	11.52	3.48	3.42	2.82	8.84	2.48	1.91
EV/Free Cash Flow to Firm	11.17	5.75	9.77	10.69	11.59	12.73	16.7	17.94	11.36	3.44	3.38	2.79	8.78	2.48	1.91
Diluted Market Cap	888	1,099	2,177	2,226	2,785	2,896	3,486	3,727	3,641	2,134	1,573	415	790	228	89
Diluted Enterprise Value	824	975	2,134	2,216	2,771	2,884	3,629	3,651	3,662	2,120	1,494	312	853	396	193
EV per Share	16.22	20.28	41.8	40.08	50.4	61.53	81.28	89.45	92.7	58.78	48.6	12.98	36.29	16.78	8.12
TTM Sales	400	454	523	618	688	758	870	1,015	1,319	1,597	1,500	1,287	1,072	962	850
TTM EBITDA	70	89	116	138	183	203	265	348	514	640	537	275	118	104	111
TTM Operating Income	52	68	95	120	165	182	242	325	489	614	509	246	91	78	89
TTM Cash Flow to Firm	47	127	152	136	154	164	183	176	302	560	390	110	96	159	100
TTM Free Cash Flow to Firm	69	161	192	172	201	207	196	194	306	566	394	111	97	159	100

Multiples (USD)

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	2001 Y	2002 Y	2003 Y	2004 Y	2005 Y	2006 Y	2007 Y	2008 Y	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y
As of date	12/31/2001	12/31/2002	12/31/2003	12/31/2004	12/31/2005	12/31/2006	12/31/2007	12/31/2008	12/31/2009	12/31/2010	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015

Price/Free Cash Flow	12.88	6.83	11.32	12.96	13.88	14.02	18.26	19.51	11.92	3.78	4.01	3.82	10.07	1.66	1.16
EV/EBIT	14.93	13.56	19.87	15.35	14.06	14.48	13.52	10.69	7.11	3.18	2.62	1.26	9.39	5.06	2.15
Enterprise Value	770	926	1,878	1,835	2,325	2,629	3,273	3,478	3,475	1,949	1,333	310	850	394	192
Low Price	9.25	14.14	23.19	27.83	41.58	55.7	66.3	42.24	85	50	50.22	16.37	11.69	3.66	1.93
EV/Sales	1.93	2.04	3.59	2.97	3.38	3.47	3.76	3.43	2.63	1.22	0.89	0.24	0.79	0.41	0.23
EV/EBITDA	10.98	10.36	16.23	13.32	12.69	12.94	12.34	10	6.77	3.04	2.48	1.13	7.21	3.78	1.72
Price/Earnings	25.96	24.53	35.85	28.93	24.86	23.92	22.65	18.33	11.98	5.65	5.05	2.97	- -	9.67	3.79
Price/Earnings Average	24.43	21.97	27.74	24.53	21.31	23.43	27.02	14.86	12.81	7.5	6.17	8.17	-21.77	18.62	4.94
Price/Earnings High	32.25	27.76	43.13	36.96	26.35	25.59	35.02	20.6	16.7	10.81	8.48	13.23	-37.08	46.1	10.25
Price/Earnings Low	13.03	14.73	17.7	16.93	17.49	20.08	17.61	8.15	10.61	4.43	4.46	2.81	-10.13	3.68	1.96
Price/Book Value	5.88	5.82	9.51	7.39	6.99	5.57	6.46	5.14	3.57	4.02	1.88	0.43	0.84	0.23	0.09
Price/Book Value Average	5.53	5.21	7.36	6.27	5.99	5.46	7.7	4.17	3.82	5.34	2.3	1.18	0.63	0.45	0.12
Price/Book Value High	7.3	6.58	11.44	9.45	7.41	5.96	9.98	5.78	4.98	7.7	3.16	1.92	1.07	1.12	0.24
Price/Book Value Low	2.95	3.49	4.69	4.33	4.92	4.68	5.02	2.29	3.16	3.16	1.66	0.41	0.29	0.09	0.05
Price/Tangible Book Value	11.19	12.08	14.44	9.26	8.84	27.28	48.66	21.24	22.98	16.49	9.24	3.29	6.8	1.59	0.55
Price/Tangible Book Value Average	10.53	10.82	11.17	7.85	7.58	26.72	58.05	17.22	24.56	21.91	11.29	9.03	5.09	3.06	0.71
Price/Tangible Book Value High	13.91	13.68	17.37	11.83	9.37	29.18	75.23	23.88	32.02	31.59	15.52	14.62	8.66	7.57	1.48
Price/Tangible Book Value Low	5.62	7.26	7.13	5.42	6.22	22.89	37.84	9.45	20.35	12.95	8.16	3.11	2.37	0.6	0.28
Price/Sales	2.19	2.37	4.04	3.52	3.96	3.74	3.95	3.64	2.73	1.32	1.04	0.32	0.73	0.23	0.1
Price/Sales Average	2.06	2.12	3.12	2.99	3.4	3.67	4.71	2.95	2.92	1.76	1.27	0.88	0.55	0.45	0.14
Price/Sales High	2.72	2.68	4.86	4.5	4.2	4	6.1	4.09	3.8	2.53	1.75	1.43	0.93	1.12	0.28
Price/Sales Low	1.1	1.42	1.99	2.06	2.79	3.14	3.07	1.62	2.42	1.04	0.92	0.3	0.26	0.09	0.05
Price/Cash Flow	18.47	8.48	13.87	15.98	17.69	17.3	19.26	21.35	11.94	3.78	4.01	3.84	10.11	1.65	1.15
Price/Cash Flow Average	17.38	7.6	10.73	13.55	15.17	16.95	22.97	17.31	12.76	5.02	4.9	10.55	7.57	3.18	1.5
Price/Cash Flow High	22.95	9.6	16.68	20.42	18.75	18.51	29.77	24	16.64	7.24	6.74	17.09	12.89	7.86	3.11
Price/Cash Flow Low	9.27	5.09	6.85	9.35	12.44	14.52	14.97	9.5	10.58	2.97	3.54	3.63	3.52	0.63	0.6
Price/Free Cash Flow Average	12.12	6.11	8.76	10.99	11.9	13.73	21.78	15.81	12.74	5.02	4.89	10.5	7.54	3.2	1.52
Price/Free Cash Flow High	16	7.73	13.62	16.56	14.71	15	28.23	21.93	16.61	7.24	6.72	17.01	12.84	7.93	3.15
Price/Free Cash Flow Low	6.46	4.1	5.59	7.59	9.76	11.77	14.2	8.68	10.56	2.97	3.54	3.62	3.51	0.63	0.6
EV/Sales Average	1.9	1.85	3.04	2.97	3.38	3.65	4.87	2.87	2.93	1.75	1.22	0.8	0.61	0.63	0.26
EV/Sales High	2.56	2.41	4.77	4.49	4.18	3.99	6.27	4.01	3.82	2.53	1.69	1.35	0.99	1.29	0.4
EV/Sales Low	0.94	1.15	1.91	2.05	2.77	3.12	3.23	1.54	2.43	1.03	0.87	0.22	0.31	0.26	0.18
EV/EBITDA Average	10.83	9.39	13.74	13.33	12.68	13.61	15.98	8.39	7.53	4.36	3.4	3.75	5.53	5.78	1.96
EV/EBITDA High	14.6	12.23	21.57	20.12	15.7	14.87	20.55	11.72	9.8	6.3	4.73	6.31	9.05	11.92	3.08
EV/EBITDA Low	5.35	5.84	8.63	9.18	10.39	11.65	10.6	4.5	6.24	2.57	2.42	1.05	2.86	2.44	1.34
EV/EBIT Average	14.72	12.29	16.82	15.37	14.05	15.23	17.51	8.96	7.91	4.55	3.59	4.2	7.2	7.74	2.45
EV/EBIT High	19.84	16.01	26.4	23.19	17.39	16.64	22.52	12.52	10.3	6.57	4.99	7.07	11.77	15.97	3.83
EV/EBIT Low	7.28	7.64	10.57	10.58	11.51	13.04	11.62	4.81	6.56	2.68	2.55	1.17	3.72	3.26	1.67
Last Price	18.43	23.55	46.97	47.55	59.11	66.37	85.27	94.98	95.96	63.69	56.89	17.31	33.58	9.61	3.73
High Price	22.9	26.65	56.5	60.75	62.65	70.99	131.82	106.75	133.75	121.98	95.52	77	42.8	45.8	10.1
Enterprise Value Average	760	839	1,590	1,837	2,325	2,765	4,238	2,917	3,867	2,792	1,827	1,032	652	602	219
Enterprise Value High	1,024	1,093	2,495	2,772	2,877	3,021	5,451	4,074	5,035	4,032	2,541	1,735	1,065	1,243	343
Enterprise Value Low	376	522	999	1,265	1,905	2,368	2,813	1,566	3,208	1,644	1,298	287	337	254	149

Shares Outstanding	46	45	45	46	46	41	40	38	35	30	26	23	23	23	24
Diluted Weighted Avg Shares	48	47	46	47	47	44	41	39	38	34	28	24	24	24	24
Basic Weighted Avg Shares	47	46	45	46	46	43	40	39	37	33	27	24	23	23	24
Revenue per Share	8.43	9.94	11.64	13.49	14.91	17.74	21.59	26.11	35.19	48.14	54.69	53.88	45.8	40.97	35.93
EBITDA per Share	1.48	1.96	2.58	3.01	3.97	4.76	6.59	8.94	13.7	19.31	19.58	11.51	5.03	4.44	4.71
Operating Income per Share	1.09	1.5	2.1	2.61	3.59	4.25	6.01	8.37	13.04	18.5	18.57	10.28	3.87	3.32	3.78
Basic EPS, GAAP	0.71	0.96	1.31	1.64	2.38	2.77	3.76	5.18	8.01	11.28	11.27	5.82	-1.15	0.99	0.99
Basic EPS from Cont Ops	0.71	0.96	1.31	1.64	2.38	2.77	3.76	5.18	8.01	11.28	11.27	5.82	-1.15	0.99	0.99
Diluted EPS, GAAP	0.7	0.94	1.27	1.61	2.33	2.72	3.71	5.13	7.91	11.17	11.18	5.79	-1.15	0.98	0.97
Diluted EPS from Cont Ops	0.7	0.94	1.27	1.61	2.33	2.72	3.71	5.13	7.91	11.17	11.18	5.79	-1.15	0.98	0.97
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	1	2.78	3.39	2.97	3.34	3.84	4.43	4.45	8.04	16.84	14.17	4.51	3.32	5.83	3.24
Free Cash Flow per Basic Share	0.54	2.03	2.49	2.2	2.33	2.84	4.11	3.98	7.92	16.66	14.03	4.46	3.29	5.83	3.24
Cash & Equivalents per Share	2.21	3.27	5.17	7.47	8.71	8.35	7.71	9.39	7.26	9.44	13.76	10.2	9.22	5.79	5.53
Book Value per Share	3.14	4.05	4.94	6.43	8.46	11.91	13.21	18.48	26.87	15.83	30.19	40.18	40.19	41.07	41.76
Tangible Book Value per Share	1.65	1.95	3.25	5.13	6.69	2.43	1.75	4.47	4.18	3.86	6.15	5.27	4.94	6.05	6.81

ITT Educational Services, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)