Global Net Lease, Inc. Financial Ratios — 2N8 Stock

Profitability (USD)

	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	12/31/2012	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 (%)	- -	- -	-6.96	-0.16	3.69	1.5	0.08	2.21	-0.48	-0.55	-0.55	-11.74	-7.27	-13.98
Return on Assets (%)	- -	- -	-4.05	-0.08	1.74	0.79	0.34	1.33	0.28	0.28	0.3	-3.51	-1.75	-3.99
Return on Capital (%)	- -	- -	- -	-0.83	3.11	2.3	1.88	3.06	1.6	1.43	1.57	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	-0.71	2.54	2.66	1.79	3.06	1.81	1.35	1.31	- -	- -	- -
Gross Margin (%)	100	98.94	91.49	91.15	91.11	88.87	89.82	90.75	90.19	91.63	91.32	90.03	88.71	89.66
EBITDA Margin (%)	-1,243.33	-99.82	-2.2	61.2	79.65	79.25	68.46	80.36	73.32	71.46	68.47	49.01	97.79	68.99
Operating Margin (%)	-583.33	42.75	42.77	26.17	32.72	33.97	32.8	32.32	30.31	32.74	32.21	31.23	39.9	37.88
Incremental Operating Margin (%)	- -	47.54	42.77	12.33	184.71	39.89	19.64	26.67	4.54	45.87	49.08	25.68	71.07	53.33
Pretax Margin (%)	-1,376.67	-176.89	-58.92	1.89	24.28	10.31	4.72	16.59	4.77	6.01	6.09	-39.65	-13.15	-23.01
Profit Margin (%)	-1,376.67	-176.89	-57.39	-1.01	22.01	9.09	3.86	15.18	3.27	2.91	3.17	-47.54	-23.09	-45.52
Net Income to Common Margin (%)	-1,376.67	-176.89	-57.39	-1.01	22.01	8	0.38	11.28	-2.36	-2.22	-2.21	-53.69	-30.77	-54.35
Effective Tax Rate (%)	- -	- -	- -	152.01	8.5	11.75	18.26	8.53	31.56	51.67	47.85	- -	- -	- -
Dvd Payout Ratio (%)	-0.24	-25.31	-66.08	-4,973.54	250.73	675.34	13,626.71	433.08	-1,979.88	-1,793.34	-1,993.95	-94.11	-221.3	-107
Sustainable Growth Rate (%)	- -	- -	-11.56	-7.99	-5.57	-8.64	-10.31	-7.37	-10.01	-10.45	-11.45	-22.8	-23.35	-28.95

Credit (USD)

Credit Ratios API ChatGPT

	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	12/31/2012	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	- -	84	963	1,270	1,452	1,545	1,808	1,924	2,324	2,479	2,443	5,292	4,129	2,576
ST Debt	- -	- -	659	717	672	299	364	199	111	226	670	1,744	1,390	324
LT Debt	- -	84	304	553	780	1,246	1,444	1,725	2,213	2,253	1,773	3,548	2,739	2,252
Total Debt/EBITDA	- -	-21.4	-468.53	10.11	8.51	7.52	9.36	7.82	9.6	8.87	9.42	24.23	7.41	7.54
Net Debt/EBITDA	- -	-17	-426.52	9.33	7.91	6.87	8.66	6.5	8.85	8.36	8.84	23.01	7.01	6.84
Total Debt/EBIT	- -	-13.94	-22.11	38.25	19.73	17.73	26.58	16.74	23.41	22.15	24.29	-346.06	21.95	23.21
Net Debt/EBIT	- -	-11.07	-20.13	35.3	18.33	16.2	24.58	13.92	21.57	20.88	22.8	-328.68	20.76	21.06
EBITDA to Interest Expense	-37.3	-4.07	-0.14	3.6	4.36	4.24	3.33	3.83	3.37	2.96	2.66	1.38	2.18	1.75
EBITDA-CapEx/Interest Expense	-37.3	-4.07	-0.14	3.6	4.36	4.24	3.33	3.83	3.37	2.96	2.66	1.38	2.18	1.75
EBIT to Interest Expense	-17.5	1.74	2.69	1.54	1.79	1.82	1.6	1.54	1.39	1.36	1.25	0.88	0.89	0.96
Interest Expense	- -	1	15	35	39	48	58	64	72	94	98	158	256	195
Common Equity/Total Assets	- -	57.1	58.33	47.45	46.61	46.51	43.07	45.86	38.63	38.74	36.32	32.57	31.44	38.26
Long-Term Debt/Equity (%)	- -	68.79	21.46	45.32	57.55	88.12	101.09	100.85	142.35	138.53	121.92	134.44	125.25	135.36
Long-Term Debt/Capital (%)	- -	40.76	12.77	22.2	27.79	42.11	44.62	47.46	57.05	54.89	45.49	44.73	43.37	53.11
Long-Term Debt/Total Assets (%)	- -	39.28	12.52	21.76	26.99	41.01	43.64	46.59	55.77	53.87	44.74	43.81	39.38	51.8
Total Debt/Equity (%)	- -	68.79	68	104.1	107.11	109.25	126.56	112.5	149.5	152.39	168	200.53	188.82	154.85
Total Debt/Capital (%)	- -	40.76	40.48	51.01	51.72	52.21	55.86	52.94	59.92	60.38	62.69	66.73	65.38	60.76
Total Debt/Total Assets (%)	- -	39.28	39.66	50	50.23	50.85	54.64	51.97	58.57	59.26	61.65	65.34	59.37	59.25
Net Debt to Equity	- -	54.65	61.9	96.08	99.53	99.79	117.03	93.5	137.75	143.68	157.7	190.46	178.57	140.48
Net Debt/Capital (%)	- -	34.28	37.88	48.43	49.28	49.4	53.31	47.54	57.04	58.2	60.45	64.36	63.43	57.57
EBITDA	- -	-4	-2	126	171	205	193	246	242	280	259	218	557	342
EBITDA-CapEx	- -	-4	-2	126	171	205	193	246	242	280	259	218	557	342
Operating Income (Loss)	- -	2	40	54	70	88	93	99	100	128	122	139	227	188

Liquidity (USD)

Liquidity Ratios API ChatGPT

	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	12/31/2012	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	- -	2.2	0.09	0.09	0.1	0.3	0.24	1.11	0.74	0.31	0.14	0.06	0.08	0.44
Current Ratio	- -	2.68	0.1	0.13	0.16	0.43	0.63	1.33	1.11	0.58	0.24	0.13	1.06	0.84
Quick Ratio	- -	2.54	0.09	0.12	0.15	0.42	0.35	1.32	1.1	0.56	0.24	0.11	0.12	0.69
CFO/Avg Current Liab	- -	- -	-0.03	0.14	0.15	0.24	0.38	0.44	0.86	0.84	0.36	0.11	0.15	0.18
Common Equity/Total Assets	- -	57.1	58.33	47.45	46.61	46.51	43.07	45.86	38.63	38.74	36.32	32.57	31.44	38.26
Long-Term Debt/Equity (%)	- -	68.79	21.46	45.32	57.55	88.12	101.09	100.85	142.35	138.53	121.92	134.44	125.25	135.36
Long-Term Debt/Capital (%)	- -	40.76	12.77	22.2	27.79	42.11	44.62	47.46	57.05	54.89	45.49	44.73	43.37	53.11
Long-Term Debt/Total Assets (%)	- -	39.28	12.52	21.76	26.99	41.01	43.64	46.59	55.77	53.87	44.74	43.81	39.38	51.8
Total Debt/Equity (%)	- -	68.79	68	104.1	107.11	109.25	126.56	112.5	149.5	152.39	168	200.53	188.82	154.85
Total Debt/Capital (%)	- -	40.76	40.48	51.01	51.72	52.21	55.86	52.94	59.92	60.38	62.69	66.73	65.38	60.76
Total Debt/Total Assets (%)	- -	39.28	39.66	50	50.23	50.85	54.64	51.97	58.57	59.26	61.65	65.34	59.37	59.25
CFO/Total Liabilities	- -	-3.96	-0.96	7.74	7.45	8.06	7.69	7.33	7.33	7.53	7.25	2.63	6.28	8.3
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	- -	- -	0.42	0.29	0.46	0.23	0.17	-0.1	-0.18	-0.02	-0.21

Working Capital (USD)

Working Capital Ratios API ChatGPT

	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	12/31/2012	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	35.46
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.29
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

	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	12/31/2012	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	- -	- -	- -	- -	- -	1,447	1,338	1,794	1,514	1,583	1,310	2,304	1,634	1,803
- Cash & Cash Equivalents	- -	12	65	70	70	102	100	270	124	90	103	122	160	180
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	15	8	1	3	12	22	6	15	1	- -	- -
+ Total Debt	- -	84	963	1,270	1,452	1,545	1,808	1,924	2,324	2,479	2,443	5,292	4,129	2,576
Enterprise Value	- -	- -	- -	- -	- -	2,890	3,050	3,460	3,736	3,978	3,664	7,476	5,604	4,199
Total Capital	- -	207	2,380	2,490	2,808	2,959	3,237	3,634	3,878	4,106	3,897	7,931	6,316	4,239
Total Debt/Capital (%)	- -	40.76	40.48	51.01	51.72	52.21	55.86	52.94	59.92	60.38	62.69	66.73	65.38	60.76
Total Debt / EV	- -	- -	- -	- -	- -	0.53	0.59	0.56	0.62	0.62	0.67	0.71	0.74	0.61
EV/Sales	- -	- -	- -	- -	- -	11.15	10.81	11.3	11.32	10.17	9.67	16.77	9.83	8.48
EV/EBITDA	- -	- -	- -	- -	- -	14.07	15.78	14.06	15.44	14.23	14.12	34.23	10.06	12.29
EV/EBIT	- -	- -	- -	- -	- -	33.17	44.83	30.11	37.64	35.55	36.44	- -	29.79	37.84
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	16.64	15.88	16.9	16.53	16.71	15.75	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	16.64	15.88	16.9	16.53	16.71	15.75	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	1,438	1,226	1,731	1,512	1,498	1,304	1,423	1,629	1,863
Diluted Enterprise Value	- -	- -	- -	- -	- -	2,882	2,937	3,397	3,733	3,893	3,658	6,595	5,599	4,259
EV per Share	- -	- -	- -	- -	- -	42.96	40.08	38.67	41.69	38.29	35.18	32.38	24.25	19.44
TTM Sales	- -	4	93	205	214	259	282	306	330	391	379	446	570	495
TTM EBITDA	- -	-4	-2	126	171	205	193	246	242	280	259	218	557	342
TTM Operating Income	- -	2	40	54	70	88	93	99	100	128	122	139	227	188
TTM Cash Flow to Firm	- -	- -	- -	84	150	174	192	205	226	238	233	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	84	150	174	192	205	226	238	233	- -	- -	- -

Multiples (USD)

Valuation Multiples API ChatGPT

	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	12/31/2012	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	- -	- -	- -	- -	- -	10.98	8.48	11.86	8.55	7.78	7.17	9.9	5.44	8.36
EV/EBIT	- -	- -	- -	- -	- -	33.17	44.83	30.11	37.64	35.55	36.44	- -	29.79	37.84
Enterprise Value	- -	- -	- -	- -	- -	2,890	3,050	3,460	3,736	3,978	3,664	7,476	5,604	4,199
Low Price	- -	- -	- -	- -	- -	20.01	15.53	17.29	8.58	13.77	10.17	7.59	6.48	6.54
EV/Sales	- -	- -	- -	- -	- -	11.15	10.81	11.3	11.32	10.17	9.67	16.77	9.83	8.48
EV/EBITDA	- -	- -	- -	- -	- -	14.07	15.78	14.06	15.44	14.23	14.12	34.23	10.06	12.29
Price/Earnings	- -	- -	- -	- -	- -	69.35	1,128.53	49.37	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	71.13	1,246.95	47.55	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	78.63	1,423.27	50.54	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	64.56	996.14	42.57	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	1.02	0.94	1.06	0.99	0.98	0.91	0.87	0.75	1.08
Price/Book Value Average	- -	- -	- -	- -	- -	1.05	1.04	1.02	0.97	1.12	1	0.96	0.83	0.99
Price/Book Value High	- -	- -	- -	- -	- -	1.16	1.18	1.08	1.27	1.29	1.17	1.32	1.08	1.1
Price/Book Value Low	- -	- -	- -	- -	- -	0.95	0.83	0.91	0.5	0.88	0.74	0.66	0.68	0.85
Price/Tangible Book Value	- -	- -	- -	- -	- -	1.04	0.95	1.07	1	0.99	0.92	0.89	0.77	1.11
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	1.07	1.05	1.03	0.98	1.13	1.01	0.98	0.85	1.01
Price/Tangible Book Value High	- -	- -	- -	- -	- -	1.18	1.2	1.1	1.29	1.3	1.18	1.34	1.11	1.13
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	0.97	0.84	0.92	0.51	0.89	0.75	0.68	0.7	0.87
Price/Sales	- -	- -	- -	- -	- -	5.54	4.33	5.57	4.58	3.83	3.44	3.19	2.86	3.76
Price/Sales Average	- -	- -	- -	- -	- -	5.69	4.78	5.36	4.49	4.38	3.78	3.5	3.16	3.42
Price/Sales High	- -	- -	- -	- -	- -	6.29	5.46	5.7	5.88	5.04	4.41	4.82	4.14	3.8
Price/Sales Low	- -	- -	- -	- -	- -	5.16	3.82	4.8	2.33	3.46	2.78	2.43	2.62	2.95
Price/Cash Flow	- -	- -	- -	- -	- -	10.98	8.44	11.68	8.55	7.78	7.17	9.9	5.44	8.36
Price/Cash Flow Average	- -	- -	- -	- -	- -	11.26	9.33	11.25	8.38	8.9	7.87	10.86	6.02	7.61
Price/Cash Flow High	- -	- -	- -	- -	- -	12.45	10.65	11.95	10.97	10.24	9.19	14.93	7.88	8.45
Price/Cash Flow Low	- -	- -	- -	- -	- -	10.22	7.45	10.07	4.34	7.03	5.8	7.52	4.99	6.55
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	11.26	9.36	11.42	8.38	8.9	7.87	10.86	6.02	7.61
Price/Free Cash Flow High	- -	- -	- -	- -	- -	12.45	10.69	12.14	10.97	10.24	9.19	14.93	7.88	8.45
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	10.22	7.48	10.23	4.34	7.03	5.8	7.52	4.99	6.55
EV/Sales Average	- -	- -	- -	- -	- -	11.29	11.3	11.08	11.22	10.75	10.01	17.27	10.14	8.15
EV/Sales High	- -	- -	- -	- -	- -	11.89	12.04	11.44	12.61	11.45	10.64	19.4	11.12	8.52
EV/Sales Low	- -	- -	- -	- -	- -	10.76	10.25	10.49	9.06	9.78	9.01	15.53	9.59	7.69
EV/EBITDA Average	- -	- -	- -	- -	- -	14.25	16.51	13.79	15.31	15.04	14.62	35.25	10.37	11.82
EV/EBITDA High	- -	- -	- -	- -	- -	15.01	17.59	14.23	17.2	16.02	15.54	39.59	11.37	12.34
EV/EBITDA Low	- -	- -	- -	- -	- -	13.58	14.97	13.06	12.36	13.68	13.16	31.69	9.81	11.14
EV/EBIT Average	- -	- -	- -	- -	- -	33.6	46.9	29.53	37.33	37.58	37.71	- -	30.71	36.38
EV/EBIT High	- -	- -	- -	- -	- -	35.39	49.97	30.48	41.96	40.03	40.1	- -	33.68	38
EV/EBIT Low	- -	- -	- -	- -	- -	32.02	42.53	27.96	30.13	34.19	33.95	- -	29.06	34.31
Last Price	- -	- -	- -	- -	- -	21.5	17.59	20.05	16.9	15.24	12.58	9.98	7.07	8.35
High Price	- -	- -	- -	- -	- -	24.38	22.19	20.53	21.68	20.06	16.11	15.05	10.24	8.43
Enterprise Value Average	- -	- -	- -	- -	- -	2,927	3,190	3,393	3,705	4,205	3,792	7,700	5,777	4,037
Enterprise Value High	- -	- -	- -	- -	- -	3,084	3,399	3,502	4,164	4,480	4,032	8,648	6,337	4,218
Enterprise Value Low	- -	- -	- -	- -	- -	2,790	2,893	3,213	2,991	3,826	3,413	6,924	5,467	3,808

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	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	12/31/2012	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	56	56	56	56	66	67	76	89	90	104	104	231	231	216
Diluted Weighted Avg Shares	56	56	56	58	57	67	70	86	89	98	104	143	230	223
Basic Weighted Avg Shares	56	56	56	58	57	67	69	85	89	98	104	143	230	223
Revenue per Share	- -	0.07	1.66	3.53	3.78	3.88	4.07	3.6	3.69	3.98	3.65	3.13	2.47	2.22
EBITDA per Share	-0.01	-0.07	-0.04	2.16	3.01	3.07	2.78	2.89	2.7	2.84	2.5	1.53	2.42	1.53
Operating Income per Share	- -	0.03	0.71	0.92	1.24	1.32	1.33	1.16	1.12	1.3	1.18	0.98	0.99	0.84
Basic EPS, GAAP	-0.01	-0.12	-0.95	-0.04	0.83	0.31	0.02	0.41	-0.09	-0.09	-0.08	-1.68	-0.76	-1.21
Basic EPS from Cont Ops	-0.01	-0.12	-0.95	-0.03	0.84	0.35	0.16	0.55	0.12	0.12	0.12	-1.34	-0.34	-0.61
Diluted EPS, GAAP	-0.01	-0.12	-0.95	-0.04	0.83	0.31	0.02	0.4	-0.09	-0.09	-0.08	-1.68	-0.76	-1.21
Diluted EPS from Cont Ops	-0.01	-0.12	-0.95	-0.03	0.84	0.35	0.16	0.54	0.12	0.12	0.12	-1.34	-0.34	-0.61
Dividend per Share	- -	0.03	0.63	1.68	2.12	2.14	2.27	1.9	1.93	1.79	1.8	1.64	1.37	1.06
Cash Flow per Share	-0.01	-0.06	-0.17	1.76	2.02	1.96	2.08	1.72	1.98	1.96	1.75	1.01	1.3	1
Free Cash Flow per Basic Share	-0.01	-0.06	-0.17	1.76	2.02	1.96	2.08	1.72	1.98	1.96	1.75	1.01	1.3	1
Cash & Equivalents per Share	- -	0.2	1.15	1.24	1.05	1.52	1.32	3.02	1.39	0.86	0.99	0.53	0.69	0.83
Book Value per Share	- -	2.18	25.16	21.41	20.34	21	18.74	18.98	17.1	15.6	13.82	11.42	9.46	7.7
Tangible Book Value per Share	- -	2.18	25.09	21.35	20.13	20.66	18.44	18.73	16.84	15.39	13.61	11.22	9.24	7.49