Welltower Inc. Financial Ratios — HCW 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 (%)	3.01	2.97	0.8	3.96	6.36	7.39	3.44	5.49	8.37	6.21	2	0.74	1.49	3.32	2.53
Return on Assets (%)	1.79	1.72	0.68	2.13	3.27	3.72	1.84	2.76	3.87	2.97	1	0.39	0.83	2	1.58
Return on Capital (%)	4.29	3.84	2.78	- -	5.19	- -	3.48	4.6	5.47	- -	2.34	1.8	2.33	3.27	- -
Return on Invested Capital (%)	3.26	3.08	2.5	- -	4.13	- -	3.21	3.58	3.62	- -	1.92	1.98	2.24	2.27	- -
Gross Margin (%)	71.19	68.44	58.05	57.93	57.77	55.85	51.53	47.91	47.26	43.36	41.09	38.39	39.06	38.5	39.18
EBITDA Margin (%)	63.74	60.53	50.18	51.5	50.31	49.89	43.85	42.81	42.53	34.77	36.43	35.75	36.24	34.77	22.15
Operating Margin (%)	35.42	33.41	24.11	28.34	32.42	30.76	25.78	24.86	24.27	15.86	16.21	12.92	14.52	14.59	3.33
Incremental Operating Margin (%)	29.71	28.14	8.57	54.83	59.35	15.26	- -	14.18	17.89	99.36	29.21	- -	27.66	14.92	- -
Pretax Margin (%)	8.62	10.33	3.55	11.52	16.56	16.68	6.97	9.07	10.64	-0.69	3.63	3	5.4	6.68	-4.5
Profit Margin (%)	16.71	16.52	5.04	15.35	23.01	25.35	12.16	17.23	24.16	21.34	7.14	2.44	5.25	12.12	8.78
Net Income to Common Margin (%)	12.07	12.68	2.74	13.39	21.3	23.81	11.01	16.23	24.16	21.34	7.14	2.44	5.25	12.12	8.78
Effective Tax Rate (%)	1.24	4.09	7.33	- -	1.01	- -	6.72	2.05	0.54	- -	5.1	4.19	1.82	0.51	- -
Dvd Payout Ratio (%)	944.98	598.07	6,239.8	331.18	209.06	187.78	774.44	161.19	98.06	101.85	250.93	628.9	335.1	155.45	190.3
Sustainable Growth Rate (%)	-25.47	-14.77	-49.14	-9.15	-6.93	-6.49	-23.21	-3.36	0.16	-0.12	-3.02	-3.94	-3.5	-1.84	-2.28

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	7,241	8,532	10,652	10,777	12,968	12,358	11,732	13,297	15,389	14,217	14,677	14,964	16,119	16,758	21,380
ST Debt	610	- -	130	- -	835	645	719	1,147	1,588	- -	325	- -	- -	- -	- -
LT Debt	6,631	8,532	10,522	10,777	12,133	11,713	11,013	12,150	13,801	14,217	14,352	14,964	16,119	16,758	21,380
Total Debt/EBITDA	8.73	7.83	7.38	6.27	6.71	5.83	6.22	6.65	7.09	8.92	8.56	7.25	6.87	6.14	9.05
Net Debt/EBITDA	8.43	6.81	7.21	5.95	6.48	5.59	6.06	6.51	6.75	7.68	8.08	6.74	5.85	4.39	5.99
Total Debt/EBIT	18.48	15.79	18.99	12.44	11.82	10.21	12.39	12.92	13.67	26.1	22.16	20.55	17.82	15.95	95.18
Net Debt/EBIT	17.85	13.72	18.55	11.8	11.42	9.8	12.06	12.64	13	22.49	20.93	19.11	15.2	11.41	63.05
EBITDA to Interest Expense	2.85	3.01	3.15	3.57	3.93	4.07	3.89	3.8	3.9	3.1	3.5	3.9	3.86	4.75	3.62
EBITDA-CapEx/Interest Expense	-14.01	3.01	3.15	3.57	3.93	4.07	3.89	3.8	3.9	3.1	3.5	3.9	3.86	4.75	3.62
EBIT to Interest Expense	1.58	1.66	1.51	1.96	2.53	2.51	2.29	2.21	2.23	1.41	1.56	1.41	1.55	2	0.54
Interest Expense	291	362	458	481	492	521	485	527	556	514	490	530	608	574	652
Common Equity/Total Assets	40.97	47.43	45.04	48.75	46.8	47.81	49.04	45.86	46.56	49.17	50.52	53.56	57.72	62.6	62.6
Long-Term Debt/Equity (%)	90.68	80.83	89.23	79.48	78.99	74.7	71.98	75.89	81.27	82.54	75.55	69.94	61.12	51.45	49.49
Long-Term Debt/Capital (%)	45.56	44.7	46.88	44.28	42.83	41.78	40.74	41.46	42.63	45.22	42.62	41.16	37.94	33.97	33.11
Long-Term Debt/Total Assets (%)	44.43	43.64	45.58	43.17	41.8	40.58	39.41	40.04	41.34	43.77	41.11	39.49	36.62	32.83	31.77
Total Debt/Equity (%)	99.02	80.83	90.34	79.48	84.43	78.82	76.68	83.05	90.62	82.54	77.26	69.94	61.12	51.45	49.49
Total Debt/Capital (%)	49.75	44.7	47.46	44.28	45.78	44.08	43.4	45.37	47.54	45.22	43.58	41.16	37.94	33.97	33.11
Total Debt/Total Assets (%)	48.52	43.64	46.14	43.17	44.68	42.81	41.98	43.82	46.1	43.77	42.04	39.49	36.62	32.83	31.77
Net Debt to Equity	95.64	70.27	88.27	75.36	81.59	75.67	74.61	81.27	86.15	71.14	72.96	65.05	52.11	36.82	32.78
Net Debt/Capital (%)	48.6	41.08	46.71	42.82	44.81	42.96	42.61	44.72	45.6	40.99	41.5	38.95	33.93	26.17	23.78
EBITDA	830	1,089	1,444	1,718	1,933	2,121	1,885	2,000	2,169	1,595	1,716	2,065	2,348	2,730	2,363
EBITDA-CapEx	-4,075	1,089	1,444	1,718	1,933	2,121	1,885	2,000	2,169	1,595	1,716	2,065	2,348	2,730	2,363
Operating Income (Loss)	461	601	694	945	1,245	1,308	1,108	1,161	1,238	727	763	746	940	1,146	355

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	0.17	2.24	0.21	0.76	0.24	0.28	0.15	0.1	0.14	2.48	0.2	0.54	1.81	2.56	2.71
Current Ratio	0.92	5.3	1.45	2.68	1.53	1.63	1.03	0.78	0.89	5.52	1.93	2.63	4.51	5.28	5.34
Quick Ratio	0.85	5.06	1.36	2.55	1.49	1.5	0.99	0.73	0.85	4.76	1.87	2.56	4.44	5.13	5.25
CFO/Avg Current Liab	0.96	1.13	1.6	1.63	1.28	1.09	0.92	0.83	0.72	1	1.3	1.06	1.41	1.83	1.79
Common Equity/Total Assets	40.97	47.43	45.04	48.75	46.8	47.81	49.04	45.86	46.56	49.17	50.52	53.56	57.72	62.6	62.6
Long-Term Debt/Equity (%)	90.68	80.83	89.23	79.48	78.99	74.7	71.98	75.89	81.27	82.54	75.55	69.94	61.12	51.45	49.49
Long-Term Debt/Capital (%)	45.56	44.7	46.88	44.28	42.83	41.78	40.74	41.46	42.63	45.22	42.62	41.16	37.94	33.97	33.11
Long-Term Debt/Total Assets (%)	44.43	43.64	45.58	43.17	41.8	40.58	39.41	40.04	41.34	43.77	41.11	39.49	36.62	32.83	31.77
Total Debt/Equity (%)	99.02	80.83	90.34	79.48	84.43	78.82	76.68	83.05	90.62	82.54	77.26	69.94	61.12	51.45	49.49
Total Debt/Capital (%)	49.75	44.7	47.46	44.28	45.78	44.08	43.4	45.37	47.54	45.22	43.58	41.16	37.94	33.97	33.11
Total Debt/Total Assets (%)	48.52	43.64	46.14	43.17	44.68	42.81	41.98	43.82	46.1	43.77	42.04	39.49	36.62	32.83	31.77
CFO/Total Liabilities	7.73	9.1	8.75	9.99	10.12	12.43	11.34	11.05	9.37	8.94	8.01	8.05	9.08	12.22	11.96
CFO/CapEx	0.12	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.9	1.25	0.92	1.47	1.21	1.26	1.2	1.15	1.27	1.13	1.46	1.2	1.83	2.69	3.39

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	- -	4.55	5.97	5.14	4.16	3.74	4.06	4.66	4.48	4.18	4.4	4.39	4.34	4.85	5.22
Days Sales Outstanding	- -	80.27	61.19	71.08	87.79	97.47	89.95	78.3	81.51	87.42	83.01	83.16	84.14	75.2	69.9
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	10,423	15,636	15,429	25,107	24,074	23,848	23,549	26,287	33,066	26,216	38,071	32,228	51,311	78,601	131,020
- Cash & Cash Equivalents	163	1,034	159	474	361	419	244	215	285	1,545	269	632	1,994	3,507	5,034
+ Preferred Equity and Hybrid Capital	1,010	1,023	1,017	1,006	1,006	1,006	719	718	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	188	260	377	384	768	874	877	1,378	1,442	1,252	1,362	1,099	967	616	1,073
+ Total Debt	7,241	8,532	10,652	10,777	12,968	12,358	11,732	13,297	15,389	14,217	14,677	14,964	16,119	16,758	21,380
Enterprise Value	18,698	24,418	27,316	36,800	38,455	37,666	36,633	41,465	49,612	40,140	53,841	47,659	66,403	92,469	148,440
Total Capital	14,553	19,087	22,443	24,336	28,327	28,038	27,033	29,308	32,371	31,442	33,675	36,358	42,491	49,331	64,583
Total Debt/Capital (%)	49.75	44.7	47.46	44.28	45.78	44.08	43.4	45.37	47.54	45.22	43.58	41.16	37.94	33.97	33.11
Total Debt / EV	0.39	0.35	0.39	0.29	0.34	0.33	0.32	0.32	0.31	0.35	0.27	0.31	0.24	0.18	0.14
EV/Sales	14.36	13.57	9.5	11.03	10.01	8.86	8.52	8.88	9.73	8.75	11.43	8.25	10.25	11.77	13.92
EV/EBITDA	22.53	22.42	18.92	21.42	19.9	17.76	19.43	20.74	22.87	25.17	31.38	23.08	28.29	33.87	62.81
EV/EBIT	47.71	45.19	48.69	42.49	35.04	31.12	38.69	40.28	44.07	73.68	81.28	65.46	73.43	88	660.79
EV/Cash Flow to Firm	21.35	20.96	19.33	- -	20.57	- -	19.42	19.75	23.75	- -	30.94	25.96	30.2	32.7	- -
EV/Free Cash Flow to Firm	- -	20.96	19.33	- -	20.57	- -	19.42	19.75	23.75	- -	30.94	25.96	30.2	32.7	- -
Diluted Market Cap	9,454	13,569	14,853	23,500	23,711	23,691	23,376	25,710	32,546	26,215	36,335	30,562	47,169	75,317	127,824
Diluted Enterprise Value	17,729	22,351	26,741	35,194	38,092	37,510	36,460	40,888	49,092	40,139	52,104	45,994	62,262	89,186	145,244
EV per Share	97.25	93.78	94.34	111.93	108.39	103.88	98.55	108.07	120.93	96.17	120.38	97.16	117.69	145.55	213.12
TTM Sales	1,302	1,800	2,877	3,336	3,841	4,252	4,299	4,671	5,100	4,587	4,709	5,776	6,478	7,854	10,667
TTM EBITDA	830	1,089	1,444	1,718	1,933	2,121	1,885	2,000	2,169	1,595	1,716	2,065	2,348	2,730	2,363
TTM Operating Income	461	601	694	945	1,245	1,308	1,108	1,161	1,238	727	763	746	940	1,146	355
TTM Cash Flow to Firm	876	1,165	1,413	- -	1,870	- -	1,886	2,100	2,089	- -	1,740	1,836	2,199	2,828	- -
TTM Free Cash Flow to Firm	-4,030	1,165	1,413	- -	1,870	- -	1,886	2,100	2,089	- -	1,740	1,836	2,199	2,828	- -

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	-2.19	16.59	15.03	20.64	17.15	14.45	16.3	16.23	21.19	19.21	28.49	23	29.45	33.38	44.36
EV/EBIT	47.71	45.19	48.69	42.49	35.04	31.12	38.69	40.28	44.07	73.68	81.28	65.46	73.43	88	660.79
Enterprise Value	18,698	24,418	27,316	36,800	38,455	37,666	36,633	41,465	49,612	40,140	53,841	47,659	66,403	92,469	148,440
Low Price	42.83	52.17	52.32	52.68	57.23	52.89	62.71	49.55	66.13	32.08	59.18	56.74	64.47	85.27	122.41
EV/Sales	14.36	13.57	9.5	11.03	10.01	8.86	8.52	8.88	9.73	8.75	11.43	8.25	10.25	11.77	13.92
EV/EBITDA	22.53	22.42	18.92	21.42	19.9	17.76	19.43	20.74	22.87	25.17	31.38	23.08	28.29	33.87	62.81
Price/Earnings	59.95	59.06	187.46	52.35	28.88	23.27	49.15	33.76	26.28	26.66	107.62	215.04	137.87	78.39	133.65
Price/Earnings Average	55.36	56.2	225.93	43.6	29.88	24.59	54.18	30.04	26.52	25.27	98.73	259.67	120.52	69.11	113.99
Price/Earnings High	60.46	61.88	276.44	54.1	36.39	28.14	60.43	36.57	30.45	38.29	113.56	321.74	140.65	88.56	148.56
Price/Earnings Low	47.36	51.3	184.09	36.12	24.35	18.72	48.65	24.42	21.56	13.61	74.82	185.72	97.74	54.02	86.98
Price/Book Value	1.7	1.69	1.48	2.06	1.77	1.73	1.72	1.89	2.13	1.64	2.16	1.59	2.02	2.46	3.11
Price/Book Value Average	1.57	1.6	1.79	1.72	1.83	1.83	1.89	1.68	2.15	1.56	1.98	1.92	1.77	2.17	2.65
Price/Book Value High	1.72	1.77	2.19	2.13	2.23	2.09	2.11	2.05	2.47	2.36	2.28	2.38	2.06	2.78	3.46
Price/Book Value Low	1.35	1.46	1.46	1.42	1.49	1.39	1.7	1.37	1.75	0.84	1.5	1.37	1.43	1.7	2.02
Price/Tangible Book Value	1.72	1.7	1.49	2.07	1.78	1.74	1.73	1.9	2.14	1.65	2.17	1.59	2.03	2.46	3.11
Price/Tangible Book Value Average	1.59	1.62	1.8	1.73	1.84	1.83	1.9	1.69	2.16	1.56	1.99	1.92	1.77	2.17	2.65
Price/Tangible Book Value High	1.74	1.78	2.2	2.14	2.24	2.1	2.12	2.06	2.48	2.37	2.29	2.38	2.07	2.78	3.46
Price/Tangible Book Value Low	1.36	1.48	1.47	1.43	1.5	1.4	1.71	1.37	1.75	0.84	1.51	1.38	1.44	1.7	2.02
Price/Sales	7.23	7.49	5.13	7.01	6.15	5.54	5.41	5.48	6.35	5.69	7.68	5.26	7.24	9.5	11.74
Price/Sales Average	6.68	7.12	6.18	5.84	6.37	5.85	5.97	4.88	6.41	5.39	7.05	6.35	6.33	8.37	10.01
Price/Sales High	7.3	7.84	7.56	7.25	7.75	6.7	6.65	5.94	7.36	8.17	8.11	7.87	7.38	10.73	13.05
Price/Sales Low	5.72	6.5	5.04	4.84	5.19	4.46	5.36	3.96	5.21	2.91	5.34	4.54	5.13	6.55	7.64
Price/Cash Flow	16.01	16.47	14.93	20.54	17.09	14.38	16.22	16.16	21.09	19.12	28.37	22.85	29.27	33.06	43.45
Price/Cash Flow Average	14.79	15.67	17.99	17.1	17.68	15.19	17.88	14.38	21.28	18.12	26.02	27.6	25.59	29.15	37.06
Price/Cash Flow High	16.15	17.25	22.01	21.22	21.54	17.38	19.95	17.5	24.43	27.46	29.93	34.19	29.86	37.35	48.3
Price/Cash Flow Low	12.65	14.3	14.66	14.17	14.41	11.56	16.06	11.69	17.3	9.76	19.72	19.74	20.75	22.79	28.28
Price/Free Cash Flow Average	-2.02	15.78	18.11	17.19	17.74	15.27	17.97	14.44	21.39	18.21	26.14	27.77	25.74	29.43	37.83
Price/Free Cash Flow High	-2.21	17.38	22.16	21.33	21.61	17.47	20.04	17.58	24.55	27.59	30.06	34.41	30.04	37.71	49.3
Price/Free Cash Flow Low	-1.73	14.41	14.76	14.24	14.46	11.62	16.13	11.74	17.38	9.81	19.81	19.87	20.88	23	28.87
EV/Sales Average	13.75	13.15	10.6	9.77	10.23	9.18	9.08	8.26	9.79	8.45	10.76	9.41	9.25	10.59	12.11
EV/Sales High	14.43	13.98	12.04	11.28	11.64	10.03	9.78	9.34	10.75	11.25	11.88	11.02	10.41	13.07	15.29
EV/Sales Low	12.68	12.43	9.4	8.7	9.03	7.76	8.47	7.32	8.56	5.95	8.97	7.49	7.94	8.66	9.63
EV/EBITDA Average	21.57	21.72	21.12	18.98	20.33	18.39	20.71	19.29	23.02	24.32	29.55	26.32	25.53	30.46	54.66
EV/EBITDA High	22.64	23.1	24	21.91	23.14	20.11	22.3	21.83	25.29	32.35	32.61	30.82	28.73	37.6	69
EV/EBITDA Low	19.9	20.53	18.73	16.89	17.95	15.56	19.3	17.1	20.14	17.13	24.62	20.95	21.92	24.92	43.45
EV/EBIT Average	45.68	43.79	54.34	37.64	35.8	32.23	41.24	37.46	44.34	71.18	76.54	74.65	66.28	79.14	574.97
EV/EBIT High	47.94	46.57	61.75	43.45	40.75	35.23	44.4	42.4	48.73	94.68	84.45	87.43	74.57	97.7	725.82
EV/EBIT Low	42.13	41.39	48.2	33.5	31.61	27.26	38.44	33.21	38.8	50.13	63.77	59.43	56.91	64.75	457.1
Last Price	54.21	60.05	53.28	76.36	67.86	65.77	63.35	68.51	80.6	62.81	85.13	65.7	90.94	123.72	188.11
High Price	54.67	62.92	78.58	78.91	85.51	79.51	77.89	74.21	93.38	90.21	89.82	98.3	92.77	139.77	209.08
Enterprise Value Average	17,900	23,662	30,483	32,602	39,290	39,009	39,045	38,566	49,920	38,776	50,696	54,347	59,944	83,159	129,162
Enterprise Value High	18,788	25,165	34,640	37,638	44,719	42,650	42,039	43,651	54,855	51,579	55,941	63,650	67,435	102,662	163,048
Enterprise Value Low	16,510	22,364	27,039	29,015	34,685	32,995	36,395	34,190	43,675	27,312	42,237	43,265	51,468	68,037	102,682

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	192	260	290	329	355	363	372	384	410	417	447	491	564	635	697
Diluted Weighted Avg Shares	174	226	279	308	349	360	369	375	404	417	427	465	519	609	680
Basic Weighted Avg Shares	174	224	277	306	348	358	367	374	402	415	425	462	516	603	666
Revenue per Share	7.49	8.02	10.39	10.89	11.03	11.87	11.71	12.5	12.69	11.04	11.08	12.5	12.56	13.02	16.03
EBITDA per Share	4.78	4.86	5.21	5.61	5.55	5.92	5.13	5.35	5.4	3.84	4.04	4.47	4.55	4.53	3.55
Operating Income per Share	2.65	2.68	2.5	3.09	3.58	3.65	3.02	3.11	3.08	1.75	1.8	1.61	1.82	1.9	0.53
Basic EPS, GAAP	0.9	1.02	0.28	1.46	2.35	2.83	1.29	2.03	3.07	2.36	0.79	0.31	0.66	1.58	1.41
Basic EPS from Cont Ops	0.67	0.81	0.31	1.17	1.75	2	0.53	2.22	3.31	2.5	0.88	0.35	0.69	1.61	1.44
Diluted EPS, GAAP	0.9	1.01	0.28	1.45	2.34	2.81	1.28	2.02	3.05	2.35	0.79	0.3	0.66	1.56	1.38
Diluted EPS from Cont Ops	0.67	0.8	0.31	1.16	1.74	1.99	0.53	2.21	3.29	2.49	0.88	0.35	0.69	1.6	1.42
Dividend per Share	3.13	3.22	3.27	3.38	3.47	3.63	3.61	3.61	3.49	2.69	2.44	2.45	2.44	2.56	2.82
Cash Flow per Share	3.39	3.65	3.57	3.72	3.97	4.57	3.91	4.24	3.82	3.28	3	2.87	3.11	3.74	4.33
Free Cash Flow per Basic Share	-24.85	3.65	3.57	3.72	3.97	4.57	3.91	4.24	3.82	3.28	3	2.87	3.11	3.74	4.33
Cash & Equivalents per Share	0.85	3.97	0.55	1.44	1.02	1.16	0.66	0.56	0.69	3.7	0.6	1.29	3.53	5.52	7.23
Book Value per Share	31.8	35.61	35.91	37.01	38.29	38.06	36.87	36.26	37.88	38.27	39.43	41.38	45.02	50.3	60.49
Tangible Book Value per Share	31.44	35.35	35.67	36.8	38.1	37.87	36.68	36.09	37.71	38.1	39.28	41.24	44.9	50.3	60.49