Realty Income Corporation Financial Ratios — RY6 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 (%)	7.75	6.36	6.19	4.67	4.52	4.61	4.58	4.7	4.89	3.81	1.99	3.23	2.83	2.38	2.7
Return on Assets (%)	3.95	3.23	3.2	2.59	2.48	2.52	2.34	2.48	2.58	2.01	1.13	1.87	1.62	1.36	1.49
Return on Capital (%)	6.65	5.7	5.59	4.66	4.54	4.36	4.21	4.38	4.37	3.59	2.13	2.91	3.13	2.95	3.06
Return on Invested Capital (%)	6.78	6.09	5.17	4.7	4.75	4.35	4.05	4.33	4.24	3.24	1.95	2.72	2.98	2.75	2.86
Gross Margin (%)	96.25	95.6	95.02	94.23	94.59	94.3	94.29	95	94.05	93.65	93.58	93.23	92.23	92.84	92.54
EBITDA Margin (%)	88.74	85.35	86.02	88.31	88.74	87.72	84.77	86.69	86.88	79.67	74.33	87.91	86.2	79.57	80.4
Operating Margin (%)	60.48	57.29	48.41	48.62	49.78	48.8	48.45	48.02	49.67	48.1	45.76	39.13	42.22	44.03	45.11
Incremental Operating Margin (%)	49.06	39.09	33.85	49.69	61.85	36.27	44.99	43.3	63.34	33.41	36.88	28.22	56.28	50.21	57.06
Pretax Margin (%)	34.22	29.5	23.45	29.2	28.15	28.98	26.76	27.86	29.81	24.97	18.86	27.44	22.77	17.72	20.09
Profit Margin (%)	38.08	32.84	31.47	28.99	27.73	28.61	26.22	27.38	29.33	24.01	17.28	26	21.39	16.33	18.41
Net Income to Common Margin (%)	32.2	24.4	26.1	25.02	25.08	26.15	25.9	27.38	29.33	24.01	17.28	26	21.39	16.18	18.41
Effective Tax Rate (%)	1.04	0.74	1.28	1.27	1.1	1.02	1.86	1.44	1.39	3.57	8.07	4.92	5.6	7.13	7.39
Dvd Payout Ratio (%)	190.08	232.6	293.56	205.88	205.99	210.3	218.9	208.32	194.34	242.54	322.9	207.15	239.56	310.77	270.21
Sustainable Growth Rate (%)	-6.98	-8.43	-11.98	-4.95	-4.79	-5.09	-5.45	-5.1	-4.61	-5.43	-4.45	-3.47	-3.95	-5.01	-4.6

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	2,090	2,870	4,167	4,935	4,826	5,845	6,117	6,506	8,030	8,938	15,948	18,600	21,990	26,757	29,346
ST Debt	237	158	128	223	238	1,120	110	252	704	- -	1,551	2,729	764	1,130	2,023
LT Debt	1,853	2,712	4,039	4,712	4,588	4,725	6,007	6,254	7,325	8,938	14,397	15,871	21,225	25,627	27,322
Total Debt/EBITDA	5.71	6.94	6.21	5.99	5.31	6.04	5.93	5.65	6.21	6.81	10.31	6.33	6.25	6.38	6.35
Net Debt/EBITDA	5.7	6.93	6.19	5.98	5.26	6.02	5.92	5.64	6.07	6.09	9.82	6.1	6.05	6.15	6.14
Total Debt/EBIT	8.38	10.78	11.43	10.97	9.67	11.29	11.5	10.64	11.49	14.07	24.59	14.66	13.57	14.87	13.99
Net Debt/EBIT	8.37	10.77	11.41	10.95	9.58	11.26	11.48	10.62	11.23	12.58	23.41	14.14	13.13	14.33	13.52
EBITDA to Interest Expense	3.55	3.56	3.88	4.07	4.16	4.58	4.36	4.47	4.66	4.47	4.85	6.6	4.51	4.2	4.18
EBITDA-CapEx/Interest Expense	3.55	3.56	3.88	4.07	4.16	4.58	4.36	4.47	4.66	4.47	4.85	6.6	4.51	4.2	4.18
EBIT to Interest Expense	2.42	2.39	2.18	2.24	2.33	2.55	2.49	2.48	2.66	2.7	2.98	2.94	2.21	2.33	2.34
Interest Expense	103	116	173	203	218	211	237	257	277	294	319	445	779	998	1,106
Common Equity/Total Assets	43.38	33.22	48.12	47.38	51.8	48.44	52.44	53	52.68	52.97	58.08	57.8	57.01	56.43	54.18
Long-Term Debt/Equity (%)	82.18	112.39	74.5	83.54	70.01	69.61	81.27	77.01	74.72	81.13	57.29	55.03	64.11	65.62	68.1
Long-Term Debt/Capital (%)	42.64	51.34	42.12	44.56	40.32	37.4	44.47	42.76	41.08	44.79	35.05	33.45	38.52	38.94	39.33
Long-Term Debt/Total Assets (%)	41.93	49.95	40.7	42.79	38.73	35.92	42.73	40.98	39.48	43.1	33.37	31.95	36.74	37.23	37.53
Total Debt/Equity (%)	92.71	118.94	76.86	87.49	73.64	86.11	82.76	80.11	81.9	81.13	63.46	64.49	66.42	68.52	73.14
Total Debt/Capital (%)	48.11	54.33	43.46	46.66	42.41	46.27	45.28	44.48	45.03	44.79	38.82	39.21	39.91	40.66	42.24
Total Debt/Total Assets (%)	47.3	52.86	41.99	44.82	40.74	44.44	43.51	42.63	43.28	43.1	36.97	37.45	38.06	38.87	40.31
Net Debt to Equity	92.52	118.73	76.67	87.34	72.95	85.9	82.6	79.91	80.04	72.55	60.42	62.2	64.3	66.02	70.68
Net Debt/Capital (%)	48.06	54.28	43.4	46.6	42.16	46.19	45.22	44.4	44.14	41.78	37.2	37.95	38.8	39.44	41.08
EBITDA	366	414	671	824	908	968	1,031	1,151	1,293	1,312	1,546	2,940	3,516	4,194	4,622
EBITDA-CapEx	366	414	671	824	908	968	1,031	1,151	1,293	1,312	1,546	2,940	3,516	4,194	4,622
Operating Income (Loss)	249	278	378	454	509	538	589	638	739	792	952	1,309	1,722	2,321	2,594

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	0.01	0.02	0.03	0.01	0.09	0.01	0.02	0.02	0.05	2.15	0.12	0.05	0.12	0.19	0.12
Current Ratio	0.21	0.44	0.5	0.36	0.38	0.12	0.42	0.33	0.43	3.37	0.52	0.51	1.53	1.68	1.42
Quick Ratio	0.17	0.33	0.39	0.2	0.31	0.09	0.35	0.28	0.31	3.23	0.46	0.48	1.49	1.59	1.35
CFO/Avg Current Liab	1.63	1.14	1.8	1.72	1.59	0.88	1	1.99	1.32	1.55	1.02	0.9	1.1	1.67	1.33
Common Equity/Total Assets	43.38	33.22	48.12	47.38	51.8	48.44	52.44	53	52.68	52.97	58.08	57.8	57.01	56.43	54.18
Long-Term Debt/Equity (%)	82.18	112.39	74.5	83.54	70.01	69.61	81.27	77.01	74.72	81.13	57.29	55.03	64.11	65.62	68.1
Long-Term Debt/Capital (%)	42.64	51.34	42.12	44.56	40.32	37.4	44.47	42.76	41.08	44.79	35.05	33.45	38.52	38.94	39.33
Long-Term Debt/Total Assets (%)	41.93	49.95	40.7	42.79	38.73	35.92	42.73	40.98	39.48	43.1	33.37	31.95	36.74	37.23	37.53
Total Debt/Equity (%)	92.71	118.94	76.86	87.49	73.64	86.11	82.76	80.11	81.9	81.13	63.46	64.49	66.42	68.52	73.14
Total Debt/Capital (%)	48.11	54.33	43.46	46.66	42.41	46.27	45.28	44.48	45.03	44.79	38.82	39.21	39.91	40.66	42.24
Total Debt/Total Assets (%)	47.3	52.86	41.99	44.82	40.74	44.44	43.51	42.63	43.28	43.1	36.97	37.45	38.06	38.87	40.31
CFO/Total Liabilities	13.81	10.82	11.52	11.69	13.11	12.56	13.14	13.18	12.22	11.47	7.34	12.31	11.99	12	12.23
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.27	1.07	1.08	1.23	1.46	1.25	1.39	1.51	1.56	1.34	1.34	1.17	1.09	0.99	1

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	30.92	26.17	25.59	18	14.01	11.85	10.85	10.04	9.1	7.04	5.84	6.89	6.51	6.64	5.95
Days Sales Outstanding	11.81	13.95	14.26	20.28	26.05	30.81	33.64	36.36	40.1	51.82	62.5	52.94	56.1	54.99	61.3
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.39	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	35.12	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	20.97	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	30	31	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	30	31	- -	- -
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	4,537	5,217	7,708	10,693	12,701	14,303	15,724	18,555	23,633	21,584	42,200	42,344	43,657	46,877	53,195
- Cash & Cash Equivalents	4	5	10	4	40	9	7	10	54	824	259	171	233	445	435
+ Preferred Equity and Hybrid Capital	338	609	609	395	395	395	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	36	28	22	20	19	32	30	32	77	130	166	211	685
+ Total Debt	2,090	2,870	4,167	4,935	4,826	5,845	6,117	6,506	8,030	8,938	15,948	18,600	21,990	26,757	29,346
Enterprise Value	6,961	8,691	12,510	16,047	17,904	20,554	21,853	25,082	31,638	29,730	57,966	60,904	65,580	73,400	82,791
Total Capital	4,345	5,283	9,588	10,576	11,379	12,632	13,508	14,627	17,834	19,956	41,078	47,444	55,097	65,809	69,470
Total Debt/Capital (%)	48.11	54.33	43.46	46.66	42.41	46.27	45.28	44.48	45.03	44.79	38.82	39.21	39.91	40.66	42.24
Total Debt / EV	0.3	0.33	0.33	0.31	0.27	0.28	0.28	0.26	0.25	0.3	0.28	0.31	0.34	0.36	0.35
EV/Sales	16.88	17.94	16.03	17.19	17.5	18.63	17.97	18.89	21.26	18.05	27.86	18.21	16.08	13.92	14.4
EV/EBITDA	19.02	21.01	18.64	19.47	19.72	21.24	21.2	21.79	24.47	22.66	37.49	20.72	18.65	17.5	17.91
EV/EBIT	27.91	32.66	34.33	35.68	35.89	39.7	41.09	41.03	45.27	46.81	89.39	47.99	40.46	40.81	39.46
EV/Cash Flow to Firm	17.36	19.67	18.14	19.39	19.68	20.37	19.72	21	23.57	21.25	35.88	20.39	17.75	16.31	16.49
EV/Free Cash Flow to Firm	17.36	19.67	18.14	19.39	19.68	20.37	19.72	21	23.57	21.25	35.88	20.39	17.75	16.31	16.49
Diluted Market Cap	4,297	5,195	7,124	10,404	11,965	14,035	15,164	17,629	22,427	20,725	42,200	39,341	40,313	45,527	51,888
Diluted Enterprise Value	6,721	8,669	11,926	15,759	17,167	20,286	21,294	24,156	30,433	28,871	57,966	57,901	62,235	72,051	81,484
EV per Share	52.25	65.12	60.29	71.36	71.5	79	76.89	82.58	94.83	82.29	98.04	92.24	87.15	82.33	88.64
TTM Sales	412	485	780	934	1,023	1,103	1,216	1,328	1,488	1,647	2,080	3,344	4,079	5,271	5,749
TTM EBITDA	366	414	671	824	908	968	1,031	1,151	1,293	1,312	1,546	2,940	3,516	4,194	4,622
TTM Operating Income	249	278	378	454	509	538	589	638	739	792	952	1,309	1,722	2,321	2,594
TTM Cash Flow to Firm	401	442	690	828	910	1,009	1,108	1,194	1,342	1,399	1,616	2,987	3,694	4,500	5,019
TTM Free Cash Flow to Firm	401	442	690	828	910	1,009	1,108	1,194	1,342	1,399	1,616	2,987	3,694	4,500	5,019

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	14.37	15.91	13.73	16.57	17.25	17.55	17.31	18.74	20.98	18.58	31.92	15.34	13.62	12.74	12.99
EV/EBIT	27.91	32.66	34.33	35.68	35.89	39.7	41.09	41.03	45.27	46.81	89.39	47.99	40.46	40.81	39.46
Enterprise Value	6,961	8,691	12,510	16,047	17,904	20,554	21,853	25,082	31,638	29,730	57,966	60,904	65,580	73,400	82,791
Low Price	28.04	32.55	35.38	35.96	41.69	49.12	51.23	46.2	59.39	36.59	54.81	56.22	45.04	50.9	50.28
EV/Sales	16.88	17.94	16.03	17.19	17.5	18.63	17.97	18.89	21.26	18.05	27.86	18.21	16.08	13.92	14.4
EV/EBITDA	19.02	21.01	18.64	19.47	19.72	21.24	21.2	21.79	24.47	22.66	37.49	20.72	18.65	17.5	17.91
Price/Earnings	32.35	43.91	34.98	44.54	46.53	48.65	48.16	48.48	51.26	51.95	117.4	45.12	46.05	42.68	48.81
Price/Earnings Average	31.12	42.87	39.42	39.25	43.07	52.74	48.56	42.73	50.5	52.61	107.36	47.05	46.82	45.79	48.88
Price/Earnings High	33.31	47.72	50.36	44.75	49.75	62.02	53.48	51.9	57.85	70.12	119.22	52.95	54.62	52.62	52.28
Price/Earnings Low	26.64	36.56	33.31	33.69	38.24	43.47	44.59	36.67	42.98	31.82	90.15	39.56	35.75	41.31	43.09
Price/Book Value	2.37	2.89	1.61	2.05	2.07	2.24	2.13	2.29	2.42	1.96	1.68	1.47	1.33	1.21	1.35
Price/Book Value Average	2.28	2.82	1.82	1.81	1.92	2.43	2.15	2.02	2.38	1.99	1.54	1.54	1.35	1.29	1.35
Price/Book Value High	2.44	3.14	2.32	2.06	2.21	2.86	2.37	2.46	2.73	2.65	1.71	1.73	1.57	1.49	1.44
Price/Book Value Low	1.95	2.41	1.54	1.55	1.7	2.01	1.98	1.73	2.03	1.2	1.29	1.29	1.03	1.17	1.19
Price/Tangible Book Value	2.6	3.38	2.02	2.57	2.5	2.71	2.55	2.7	2.86	2.33	2.62	2.14	1.8	1.7	1.85
Price/Tangible Book Value Average	2.5	3.3	2.27	2.26	2.31	2.94	2.57	2.38	2.82	2.36	2.4	2.23	1.83	1.82	1.85
Price/Tangible Book Value High	2.67	3.67	2.9	2.58	2.67	3.46	2.83	2.89	3.23	3.15	2.66	2.51	2.14	2.1	1.98
Price/Tangible Book Value Low	2.14	2.81	1.92	1.94	2.05	2.42	2.36	2.04	2.4	1.43	2.01	1.87	1.4	1.65	1.63
Price/Sales	10.42	10.71	9.13	11.15	11.67	12.72	12.47	13.28	15.03	12.47	20.28	11.73	9.85	6.91	8.99
Price/Sales Average	10.02	10.46	10.29	9.82	10.8	13.79	12.58	11.7	14.81	12.63	18.55	12.23	10.01	7.41	9
Price/Sales High	10.73	11.64	13.14	11.2	12.48	16.22	13.85	14.21	16.97	16.84	20.6	13.77	11.68	8.52	9.63
Price/Sales Low	8.58	8.92	8.69	8.43	9.59	11.37	11.55	10.04	12.6	7.64	15.58	10.29	7.64	6.69	7.93
Price/Cash Flow	14.37	15.9	13.73	16.57	17.22	17.55	17.31	18.74	20.93	18.42	31.92	15.3	13.58	10.19	12.93
Price/Cash Flow Average	13.82	15.53	15.47	14.61	15.94	19.02	17.46	16.52	20.62	18.65	29.19	15.96	13.8	10.93	12.95
Price/Cash Flow High	14.8	17.28	19.76	16.65	18.41	22.37	19.23	20.06	23.62	24.86	32.41	17.96	16.1	12.56	13.85
Price/Cash Flow Low	11.83	13.24	13.07	12.54	14.15	15.68	16.03	14.17	17.55	11.28	24.51	13.42	10.54	9.86	11.42
Price/Free Cash Flow Average	13.83	15.54	15.47	14.61	15.97	19.02	17.46	16.52	20.67	18.82	29.19	16	13.85	13.67	13.01
Price/Free Cash Flow High	14.8	17.29	19.76	16.65	18.44	22.37	19.23	20.06	23.68	25.08	32.41	18.01	16.16	15.71	13.91
Price/Free Cash Flow Low	11.83	13.25	13.07	12.54	14.18	15.68	16.03	14.17	17.59	11.38	24.51	13.45	10.58	12.33	11.47
EV/Sales Average	16.46	17.68	17.29	15.83	16.57	19.72	18.08	17.23	21.03	18.22	26.13	18.76	16.26	14.57	14.41
EV/Sales High	17.21	18.87	20.38	17.24	18.35	22.19	19.4	19.87	23.3	22.63	28.18	20.41	18.07	16	15.06
EV/Sales Low	14.94	16.13	15.56	14.4	15.29	17.25	17.02	15.48	18.69	12.97	23.15	16.65	13.68	13.64	13.32
EV/EBITDA Average	18.55	20.71	20.1	17.92	18.68	22.48	21.33	19.88	24.2	22.87	35.15	21.33	18.86	18.31	17.93
EV/EBITDA High	19.39	22.1	23.69	19.52	20.68	25.3	22.89	22.93	26.82	28.41	37.91	23.22	20.96	20.1	18.73
EV/EBITDA Low	16.83	18.9	18.09	16.3	17.22	19.67	20.07	17.86	21.52	16.28	31.15	18.94	15.87	17.14	16.56
EV/EBIT Average	27.22	32.2	37.01	32.86	34	42.02	41.33	37.43	44.77	47.24	83.82	49.41	40.91	42.71	39.49
EV/EBIT High	28.45	34.36	43.63	35.79	37.65	47.29	44.35	43.17	49.61	58.69	90.4	53.77	45.48	46.88	41.26
EV/EBIT Low	24.7	29.38	33.32	29.89	31.35	36.76	38.9	33.63	39.8	33.64	74.28	43.88	34.44	39.97	36.49
Last Price	34.05	39.09	37.15	47.55	50.72	54.98	55.32	61.09	70.84	59.74	71.37	64.13	58.02	52.58	56.96
High Price	35.07	42.48	53.48	47.77	54.22	70.08	61.43	65.39	79.94	80.64	72.48	75.25	68.82	64.84	61.01
Enterprise Value Average	6,788	8,567	13,487	14,777	16,959	21,756	21,984	22,883	31,290	30,007	54,358	62,713	66,311	76,820	82,870
Enterprise Value High	7,096	9,143	15,897	16,097	18,781	24,484	23,590	26,389	34,676	37,281	58,623	68,246	73,707	84,328	86,578
Enterprise Value Low	6,159	7,817	12,142	13,442	15,641	19,030	20,688	20,561	27,819	21,367	48,171	55,684	55,814	71,903	76,561

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	133	133	207	225	250	260	284	304	334	361	591	660	752	892	934
Diluted Weighted Avg Shares	126	133	192	219	236	255	274	289	317	347	591	613	695	866	911
Basic Weighted Avg Shares	126	133	192	219	235	255	274	289	316	344	591	612	692	692	907
Revenue per Share	3.27	3.65	4.07	4.27	4.35	4.32	4.44	4.6	4.71	4.79	3.52	5.47	5.89	7.61	6.34
EBITDA per Share	2.9	3.11	3.5	3.77	3.86	3.79	3.76	3.99	4.09	3.82	2.62	4.8	5.08	6.06	5.1
Operating Income per Share	1.98	2.09	1.97	2.07	2.16	2.11	2.15	2.21	2.34	2.3	1.61	2.14	2.49	3.35	2.86
Basic EPS, GAAP	1.05	0.89	1.06	1.07	1.09	1.13	1.15	1.26	1.38	1.15	0.61	1.42	1.26	1.23	1.17
Basic EPS from Cont Ops	1.11	1.07	0.94	1.23	1.21	1.24	1.16	1.26	1.39	1.15	0.61	1.43	1.27	1.25	1.18
Diluted EPS, GAAP	1.05	0.89	1.06	1.07	1.09	1.13	1.15	1.26	1.38	1.14	0.61	1.42	1.26	0.99	1.16
Diluted EPS from Cont Ops	1.11	1.07	0.94	1.23	1.21	1.24	1.16	1.26	1.38	1.14	0.61	1.42	1.26	1	1.17
Dividend per Share	1.93	2.08	2.35	2.37	2.38	2.5	2.54	2.64	2.7	2.8	1.98	2.96	3.05	3.9	3.22
Cash Flow per Share	2.37	2.46	2.71	2.87	2.95	3.13	3.2	3.26	3.38	3.24	2.24	4.19	4.27	5.16	4.4
Free Cash Flow per Basic Share	2.37	2.46	2.71	2.87	2.95	3.13	3.2	3.26	3.38	3.24	2.24	4.19	4.27	5.16	4.4
Cash & Equivalents per Share	0.03	0.04	0.05	0.02	0.16	0.04	0.02	0.03	0.16	2.28	0.44	0.26	0.31	0.5	0.47
Book Value per Share	14.39	13.51	23.02	23.2	24.5	24.49	25.94	26.63	29.3	30.41	42.37	43.48	43.78	43.57	42.23
Tangible Book Value per Share	13.11	11.57	18.43	18.51	20.31	20.27	21.68	22.63	24.78	25.63	27.23	30.01	32.15	30.94	30.82