Ventas, Inc. Financial Ratios — VEN 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 (%)	6.25	3.97	5.08	5.44	4.58	6.48	12.72	3.88	4.19	4.26	0.47	-0.45	-0.42	0.8	2.16
Return on Assets (%)	3.17	2	2.34	2.33	1.92	2.86	5.76	1.76	1.83	1.81	0.2	-0.19	-0.17	0.32	0.93
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.96	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.27	- -	- -	- -	- -
Gross Margin (%)	61.18	60.47	55.57	56.34	57.09	58.12	58.41	54.85	53.25	48.89	45.44	44.71	43.06	42.59	41.38
EBITDA Margin (%)	58.21	52.8	54.98	53.9	52.21	53.94	54.75	49.08	48.27	44.3	39.97	40.28	40.49	39.47	38.72
Operating Margin (%)	31.23	27.53	25.96	25.83	25.99	28.33	29.78	26.4	22.15	15.58	11.01	11.72	9.24	13.83	14.7
Incremental Operating Margin (%)	15.89	18.84	- -	24.59	26.83	77.36	67.83	- -	- -	344.26	- -	20.72	- -	62.31	19.38
Pretax Margin (%)	19.08	12.21	14.45	12.62	10.66	18.04	36.41	10.04	9.89	9.08	1.6	-1.4	-0.89	1.03	4.24
Profit Margin (%)	21.05	14.69	18.02	17.13	12.71	18.85	37.95	10.93	11.18	11.57	1.28	-1.15	-0.91	1.65	4.31
Net Income to Common Margin (%)	21.05	14.69	18.02	17.13	12.71	18.85	37.95	10.93	11.18	11.57	1.28	-1.15	-0.91	1.65	4.31
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.86	- -	- -	- -	- -
Dvd Payout Ratio (%)	144.8	237.49	212.96	242.87	256.68	156.56	60.57	266.78	259.82	209.56	1,071.42	-2,093.04	-3,687.68	774.81	316.6
Sustainable Growth Rate (%)	-2.8	-5.45	-5.74	-7.77	-7.18	-3.67	5.02	-6.48	-6.7	-4.67	-4.53	-9.91	-15.8	-5.41	-4.67

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	6,429	8,414	9,365	10,844	11,207	11,127	11,276	10,734	12,410	12,105	12,225	12,487	13,686	13,741	13,220
ST Debt	456	541	376	919	181	147	539	856	849	193	336	428	14	6	- -
LT Debt	5,974	7,873	8,989	9,925	11,026	10,981	10,737	9,877	11,561	11,912	11,888	12,059	13,672	13,734	13,220
Total Debt/EBITDA	6.38	6.45	6.77	7.25	6.53	5.99	5.76	5.84	6.64	7.2	7.99	7.51	7.51	7.07	5.85
Net Debt/EBITDA	6.19	6.29	6.7	7.21	6.5	5.84	5.72	5.8	6.45	6.83	7.76	7.32	7.13	6.5	5.43
Total Debt/EBIT	11.45	14.53	14.85	16.22	15.21	11.73	10.71	11.93	15.5	21.98	38.83	27.6	33.68	20.81	15.6
Net Debt/EBIT	11.11	14.17	14.7	16.14	15.14	11.43	10.63	11.84	15.05	20.84	37.73	26.91	31.94	19.12	14.48
EBITDA to Interest Expense	4.5	4.52	5.56	5.12	4.67	4.43	4.37	4.16	4.14	3.58	3.48	3.56	3.17	3.22	3.69
EBITDA-CapEx/Interest Expense	2.13	4.52	5.56	5.12	4.67	4.43	4.37	4.16	4.14	3.58	3.48	3.56	3.17	3.22	3.69
EBIT to Interest Expense	2.42	2.35	2.62	2.46	2.33	2.32	2.37	2.23	1.9	1.26	0.96	1.03	0.72	1.13	1.4
Interest Expense	224	289	249	292	367	420	448	442	452	470	440	468	574	603	612
Common Equity/Total Assets	53.7	47.52	44.72	41.01	42.96	45.15	45.36	45.23	42.3	42.54	43.91	42.03	38.37	41.13	45.4
Long-Term Debt/Equity (%)	63.85	86.62	100.95	113.37	114.55	104.29	98.22	96.16	109.63	115.89	108.61	117.97	143.24	126.82	105.04
Long-Term Debt/Capital (%)	37.84	44.98	49.2	50.64	52.93	50.71	48.35	47.02	50.36	53.22	51.31	53.1	58.85	55.9	51.23
Long-Term Debt/Total Assets (%)	34.59	41.48	45.55	46.89	49.53	47.4	44.82	43.73	46.82	49.78	48.1	49.92	55.29	52.45	47.91
Total Debt/Equity (%)	68.72	92.57	105.18	123.87	116.43	105.69	103.15	104.5	117.68	117.78	111.69	122.16	143.39	126.88	105.04
Total Debt/Capital (%)	40.73	48.07	51.26	55.33	53.8	51.38	50.77	51.1	54.06	54.08	52.76	54.99	58.91	55.92	51.23
Total Debt/Total Assets (%)	37.22	44.33	47.46	51.23	50.34	48.03	47.07	47.53	50.26	50.59	49.46	51.69	55.35	52.47	47.91
Net Debt to Equity	66.7	90.25	104.11	123.24	115.88	102.96	102.4	103.8	114.29	111.71	108.52	119.1	136.02	116.58	97.49
Net Debt/Capital (%)	39.65	47.05	51.01	55.21	53.68	50.73	50.59	50.93	52.75	52.26	51.6	53.9	57.14	53.33	48.95
EBITDA	1,008	1,304	1,384	1,497	1,716	1,858	1,957	1,839	1,869	1,681	1,530	1,663	1,821	1,943	2,259
EBITDA-CapEx	476	1,304	1,384	1,497	1,716	1,858	1,957	1,839	1,869	1,681	1,530	1,663	1,821	1,943	2,259
Operating Income (Loss)	541	680	653	717	854	976	1,064	989	858	591	421	484	416	681	858

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	0.06	0.05	0.08	0.06	0.11	0.3	0.07	0.14	0.16	0.45	0.1	0.08	0.43	0.69	0.53
Current Ratio	0.38	0.66	0.6	1.87	1.24	1.25	1.03	0.56	0.72	1.06	0.62	0.61	0.73	1.09	0.96
Quick Ratio	0.25	0.52	0.43	0.54	1.09	1.13	0.94	0.53	0.66	1.03	0.57	0.55	0.64	0.98	0.83
CFO/Avg Current Liab	0.76	0.63	0.79	0.74	0.92	1.22	0.95	0.71	0.69	0.82	0.69	0.72	0.81	1.07	1.22
Common Equity/Total Assets	53.7	47.52	44.72	41.01	42.96	45.15	45.36	45.23	42.3	42.54	43.91	42.03	38.37	41.13	45.4
Long-Term Debt/Equity (%)	63.85	86.62	100.95	113.37	114.55	104.29	98.22	96.16	109.63	115.89	108.61	117.97	143.24	126.82	105.04
Long-Term Debt/Capital (%)	37.84	44.98	49.2	50.64	52.93	50.71	48.35	47.02	50.36	53.22	51.31	53.1	58.85	55.9	51.23
Long-Term Debt/Total Assets (%)	34.59	41.48	45.55	46.89	49.53	47.4	44.82	43.73	46.82	49.78	48.1	49.92	55.29	52.45	47.91
Total Debt/Equity (%)	68.72	92.57	105.18	123.87	116.43	105.69	103.15	104.5	117.68	117.78	111.69	122.16	143.39	126.88	105.04
Total Debt/Capital (%)	40.73	48.07	51.26	55.33	53.8	51.38	50.77	51.1	54.06	54.08	52.76	54.99	58.91	55.92	51.23
Total Debt/Total Assets (%)	37.22	44.33	47.46	51.23	50.34	48.03	47.07	47.53	50.26	50.59	49.46	51.69	55.35	52.47	47.91
CFO/Total Liabilities	9.77	10.04	11.03	10.11	11.07	10.72	10.97	11.22	10.16	10.62	7.45	8.04	7.38	8.66	10.97
CFO/CapEx	1.45	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.16	1.15	0.94	1.16	1.06	1.2	1.16	1.11	0.95	0.82	0.79	0.66	- -	- -	- -

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	- -	22.74	18.56	16.41	16.16	14.85	13.95	14.47	14.65	16.92	22.09	22.66	23.57	24.82	25.73
Days Sales Outstanding	- -	16.05	19.66	22.24	22.58	24.57	26.16	25.23	24.92	21.57	16.52	16.11	15.49	14.71	14.19
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	13,959	16,383	14,783	19,012	18,854	22,002	21,397	21,038	21,537	18,396	20,150	18,014	20,369	25,553	38,199
- Cash & Cash Equivalents	46	68	95	55	53	287	81	72	106	413	150	123	509	898	741
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	81	70	80	74	61	69	66	56	100	98	91	69	56	58	59
+ Total Debt	6,429	8,414	9,365	10,844	11,207	11,127	11,276	10,734	12,410	12,105	12,225	12,487	13,686	13,741	13,220
Enterprise Value	20,380	24,794	24,111	29,812	30,005	32,856	32,603	31,549	33,702	29,949	32,316	30,447	33,602	38,454	50,736
Total Capital	15,785	17,503	18,269	19,599	20,832	21,656	22,208	21,005	22,955	22,384	23,171	22,709	23,230	24,570	25,805
Total Debt/Capital (%)	40.73	48.07	51.26	55.33	53.8	51.38	50.77	51.1	54.06	54.08	52.76	54.99	58.91	55.92	51.23
Total Debt / EV	0.32	0.34	0.39	0.36	0.37	0.34	0.35	0.34	0.37	0.4	0.38	0.41	0.41	0.36	0.26
EV/Sales	11.77	10.04	9.58	10.74	9.13	9.54	9.12	8.42	8.7	7.89	8.44	7.37	7.47	7.81	8.7
EV/EBITDA	20.22	19.02	17.43	19.92	17.49	17.69	16.66	17.16	18.03	17.81	21.12	18.31	18.45	19.79	22.46
EV/EBIT	36.29	42.82	38.24	44.59	40.73	34.65	30.96	35.05	42.09	54.37	102.65	67.3	82.68	58.25	59.88
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.57	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	22.57	- -	- -	- -	- -
Diluted Market Cap	11,155	16,530	14,829	18,898	18,835	21,646	21,540	21,199	21,368	18,489	19,488	18,183	20,550	24,342	37,209
Diluted Enterprise Value	17,576	24,941	24,157	29,698	29,987	32,500	32,746	31,710	33,534	30,042	31,654	30,617	33,783	37,243	49,746
EV per Share	70.57	84.95	81.96	99.88	89.74	92.78	91.53	88.48	90.4	79.95	80.91	76.18	83.57	87.98	106.83
TTM Sales	1,732	2,470	2,517	2,777	3,286	3,444	3,574	3,746	3,873	3,795	3,828	4,129	4,498	4,924	5,834
TTM EBITDA	1,008	1,304	1,384	1,497	1,716	1,858	1,957	1,839	1,869	1,681	1,530	1,663	1,821	1,943	2,259
TTM Operating Income	541	680	653	717	854	976	1,064	989	858	591	421	484	416	681	858
TTM Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,432	- -	- -	- -	- -
TTM Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,432	- -	- -	- -	- -

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	46.17	16.65	12.41	15.06	13.46	15.98	15.08	15.35	14.86	12.75	18.99	16.23	18.35	18.31	22.6
EV/EBIT	36.29	42.82	38.24	44.59	40.73	34.65	30.96	35.05	42.09	54.37	102.65	67.3	82.68	58.25	59.88
Enterprise Value	20,380	24,794	24,111	29,812	30,005	32,856	32,603	31,549	33,702	29,949	32,316	30,447	33,602	38,454	50,736
Low Price	39.56	46.79	48.39	49.3	49.21	48.22	58.99	46.75	54.93	16.23	45.85	36.33	39.47	41.61	56.29
EV/Sales	11.77	10.04	9.58	10.74	9.13	9.54	9.12	8.42	8.7	7.89	8.44	7.37	7.47	7.81	8.7
EV/EBITDA	20.22	19.02	17.43	19.92	17.49	17.69	16.66	17.16	18.03	17.81	21.12	18.31	18.45	19.79	22.46
Price/Earnings	30.29	45.19	32.43	39.39	44.58	32.99	15.74	51.34	48.82	41.75	394.03	- -	- -	296.64	145.61
Price/Earnings Average	29.02	42.72	38	34.96	46.71	34.21	16.95	48.21	55.01	36.02	422.13	- -	- -	271.48	120.96
Price/Earnings High	31.29	47.7	46.8	40.52	56.4	40.85	18.83	57.04	63.69	54.32	471.58	- -	- -	341.32	146.53
Price/Earnings Low	24.79	37.66	31.22	30.48	38.9	25.6	15.45	40.68	46.42	13.79	358.14	- -	- -	211.15	101.9
Price/Book Value	1.51	1.82	1.68	2.19	1.97	2.1	1.97	2.06	2.06	1.81	1.86	1.77	2.15	2.37	3.05
Price/Book Value Average	1.44	1.72	1.96	1.94	2.07	2.18	2.12	1.93	2.32	1.56	1.99	1.98	1.95	2.17	2.53
Price/Book Value High	1.55	1.92	2.42	2.25	2.49	2.6	2.36	2.29	2.69	2.35	2.22	2.5	2.25	2.73	3.07
Price/Book Value Low	1.23	1.51	1.61	1.7	1.72	1.63	1.93	1.63	1.96	0.6	1.69	1.43	1.67	1.69	2.13
Price/Tangible Book Value	1.58	1.93	1.77	2.29	2.22	2.34	2.18	2.3	2.29	2.02	2.06	1.98	2.41	2.63	3.33
Price/Tangible Book Value Average	1.52	1.82	2.08	2.03	2.32	2.42	2.35	2.16	2.58	1.74	2.2	2.21	2.19	2.41	2.77
Price/Tangible Book Value High	1.64	2.03	2.56	2.36	2.8	2.89	2.61	2.55	2.99	2.62	2.46	2.79	2.54	3.03	3.35
Price/Tangible Book Value Low	1.3	1.61	1.71	1.77	1.93	1.81	2.14	1.82	2.18	0.67	1.87	1.6	1.88	1.87	2.33
Price/Sales	6.38	6.64	5.84	6.75	5.67	6.22	5.97	5.61	5.46	4.83	5.04	4.36	4.53	4.89	6.27
Price/Sales Average	6.11	6.28	6.85	5.99	5.94	6.45	6.43	5.27	6.15	4.17	5.4	4.86	4.1	4.47	5.21
Price/Sales High	6.59	7.01	8.43	6.94	7.17	7.7	7.15	6.24	7.12	6.28	6.04	6.15	4.75	5.63	6.31
Price/Sales Low	5.22	5.53	5.63	5.22	4.95	4.83	5.86	4.45	5.19	1.6	4.59	3.51	3.53	3.48	4.39
Price/Cash Flow	14.28	16.51	12.31	14.93	13.32	15.81	14.94	15.22	14.7	12.64	18.82	16.08	18.18	18.11	22.23
Price/Cash Flow Average	13.68	15.61	14.42	13.26	13.95	16.4	16.09	14.29	16.57	10.91	20.16	17.93	16.47	16.57	18.46
Price/Cash Flow High	14.75	17.43	17.76	15.36	16.85	19.58	17.87	16.91	19.18	16.45	22.52	22.68	19.09	20.83	22.37
Price/Cash Flow Low	11.69	13.76	11.85	11.56	11.62	12.27	14.67	12.06	13.98	4.18	17.11	12.96	14.16	12.89	15.56
Price/Free Cash Flow Average	44.24	15.74	14.55	13.37	14.11	16.57	16.24	14.41	16.74	11	20.35	18.11	16.63	16.75	18.77
Price/Free Cash Flow High	47.69	17.57	17.91	15.49	17.03	19.79	18.04	17.05	19.39	16.59	22.73	22.9	19.27	21.06	22.74
Price/Free Cash Flow Low	37.79	13.88	11.95	11.65	11.75	12.4	14.8	12.16	14.13	4.21	17.26	13.08	14.3	13.03	15.81
EV/Sales Average	11.43	9.68	10.59	9.97	9.4	9.78	9.58	8.08	9.41	7.23	8.82	7.88	7.05	7.37	7.59
EV/Sales High	12.03	10.41	12.18	10.93	10.65	11.06	10.3	9.05	10.4	9.35	9.48	9.16	7.7	8.59	8.74
EV/Sales Low	10.31	8.93	9.36	9.19	8.4	8.11	9.01	7.26	8.43	4.65	7.96	6.53	6.47	6.31	6.73
EV/EBITDA Average	19.64	18.33	19.26	18.49	18.01	18.13	17.5	16.46	19.49	16.31	22.06	19.56	17.4	18.67	19.6
EV/EBITDA High	20.67	19.71	22.16	20.29	20.4	20.51	18.81	18.43	21.54	21.11	23.71	22.75	19.01	21.77	22.57
EV/EBITDA Low	17.7	16.92	17.03	17.05	16.09	15.04	16.46	14.78	17.46	10.49	19.92	16.21	15.98	16	17.39
EV/EBIT Average	35.25	41.27	42.27	41.4	41.95	35.51	32.53	33.63	45.5	49.79	107.22	71.91	77.97	54.96	52.25
EV/EBIT High	37.11	44.39	48.63	45.42	47.51	40.18	34.96	37.65	50.28	64.42	115.25	83.65	85.2	64.08	60.17
EV/EBIT Low	31.78	38.11	37.37	38.16	37.47	29.45	30.6	30.2	40.77	32.01	96.82	59.58	71.61	47.09	46.35
Last Price	48.33	56.13	50.25	63.7	56.39	62.13	60.07	59	57.77	49.11	50.45	45.07	50.66	58.46	80.43
High Price	49.92	59.25	72.52	65.54	71.34	76.93	71.87	65.56	75.36	63.89	60.38	63.57	53.2	67.27	80.94
Enterprise Value Average	19,795	23,897	26,652	27,678	30,906	33,673	34,253	30,269	36,430	27,424	33,753	32,529	31,688	36,286	44,270
Enterprise Value High	20,838	25,704	30,663	30,361	35,004	38,098	36,806	33,886	40,259	35,485	36,282	37,843	34,624	42,303	50,979
Enterprise Value Low	17,845	22,066	23,563	25,513	27,603	27,930	32,218	27,181	32,644	17,631	30,481	26,953	29,103	31,090	39,270

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	289	292	294	298	334	354	356	357	373	375	399	400	402	437	475
Diluted Weighted Avg Shares	231	294	295	297	334	348	359	359	370	377	386	403	406	416	463
Basic Weighted Avg Shares	228	292	293	294	330	345	355	356	366	373	383	400	402	412	455
Revenue per Share	7.58	8.46	8.6	9.44	9.95	9.99	10.06	10.51	10.58	10.17	10	10.33	11.19	11.96	12.82
EBITDA per Share	4.41	4.46	4.73	5.09	5.19	5.39	5.51	5.16	5.11	4.5	4	4.16	4.53	4.72	4.96
Operating Income per Share	2.37	2.33	2.23	2.44	2.59	2.83	3	2.78	2.34	1.58	1.1	1.21	1.03	1.65	1.88
Basic EPS, GAAP	1.6	1.24	1.55	1.62	1.26	1.88	3.82	1.15	1.18	1.18	0.13	-0.12	-0.1	0.2	0.55
Basic EPS from Cont Ops	1.58	1.05	1.28	1.22	1.18	1.89	3.83	1.17	1.2	1.18	0.15	-0.1	-0.08	0.21	0.57
Diluted EPS, GAAP	1.58	1.23	1.54	1.6	1.25	1.86	3.78	1.14	1.17	1.17	0.13	-0.12	-0.1	0.19	0.54
Diluted EPS from Cont Ops	1.56	1.05	1.27	1.21	1.17	1.87	3.8	1.16	1.19	1.17	0.15	-0.1	-0.07	0.21	0.57
Dividend per Share	2.28	2.49	2.74	2.98	3.04	2.97	2.33	3.16	3.16	2.49	1.79	1.8	1.8	1.8	1.89
Cash Flow per Share	3.38	3.4	4.08	4.27	4.23	3.93	4.02	3.88	3.93	3.88	2.68	2.8	2.79	3.23	3.62
Free Cash Flow per Basic Share	1.06	3.4	4.08	4.27	4.23	3.93	4.02	3.88	3.93	3.88	2.68	2.8	2.79	3.23	3.62
Cash & Equivalents per Share	0.31	0.25	0.4	0.4	0.35	0.97	0.38	0.78	0.92	1.74	0.37	0.31	1.27	2.05	1.56
Book Value per Share	32.11	30.9	30	29.08	28.61	29.54	30.51	28.65	28.02	27.18	27.18	25.4	23.6	24.64	26.38
Tangible Book Value per Share	30.51	29.14	28.38	27.8	25.43	26.6	27.58	25.69	25.19	24.36	24.54	22.77	20.98	22.23	24.15