Marriott International Financial Ratios — MAQ 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 (%)	- -	- -	- -	- -	- -	- -	32.64	65.68	86.95	-47.13	119.2	237.94	- -	- -	- -
Return on Assets (%)	2.66	9.32	9.53	11.05	13.3	5.35	6.08	8.02	5.22	-1.07	4.37	9.36	12.21	9.16	9.68
Return on Capital (%)	9.97	43.63	41.9	50.32	93.23	13.36	12.46	18.67	13.17	- -	12.28	21.9	30.31	23.83	25.2
Return on Invested Capital (%)	10.08	41.59	40.7	48.48	88.51	12.92	9.54	16.45	11.89	- -	13.53	21.9	30.2	23.73	25.24
Gross Margin (%)	10.38	13.75	13.8	14.25	14.66	17.34	18.64	17.7	15.34	13.8	20.21	21.94	21	19.81	19.94
EBITDA Margin (%)	5.44	8.82	8.72	9.47	10.28	10.27	13.61	12.77	10.5	5.32	14.76	18.59	18.13	16.97	18.1
Operating Margin (%)	4.27	7.96	7.73	8.4	9.32	11.75	13.02	12.14	9.24	3.32	12.69	16.72	16.55	15.31	15.81
Incremental Operating Margin (%)	- -	- -	4.95	16.9	27.68	49.95	16.91	- -	- -	15.26	42.82	24.81	15.31	- -	27.16
Pretax Margin (%)	2.89	7.19	7.02	7.89	8.66	8.04	14.58	11.3	7.62	-4.41	8.52	14.99	14.25	12.55	12.96
Profit Margin (%)	1.61	4.83	4.9	5.46	5.93	5.24	7.13	9.19	6.07	-2.53	7.93	11.35	13	9.46	9.93
Net Income to Common Margin (%)	1.61	4.83	4.9	5.46	5.93	5.24	7.13	9.19	6.07	-2.53	7.93	11.35	13	9.46	9.93
Effective Tax Rate (%)	44.38	32.74	30.21	30.79	31.55	34.79	51.07	18.68	20.39	- -	6.86	24.28	8.73	24.63	23.36
Dvd Payout Ratio (%)	67.68	33.45	31.31	29.61	29.45	46.29	33.04	28.47	48.08	-58.43	- -	13.61	19.04	28.72	27.6
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	21.86	46.98	45.15	-74.67	119.2	205.55	- -	- -	- -

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	2,171	2,935	3,153	3,771	4,107	8,506	8,238	9,347	11,822	11,199	11,236	11,098	12,760	15,241	17,083
ST Debt	355	407	6	324	300	309	398	833	977	1,173	805	684	553	1,309	1,209
LT Debt	1,816	2,528	3,147	3,447	3,807	8,197	7,840	8,514	10,845	10,026	10,431	10,414	12,207	13,932	15,874
Total Debt/EBITDA	3.24	2.82	2.83	2.89	2.76	5.37	2.96	3.53	5.37	19.93	5.49	2.87	2.97	3.58	3.6
Net Debt/EBITDA	3.09	2.73	2.71	2.81	2.69	4.83	2.82	3.41	4.86	16.9	4.28	2.47	2.68	3.3	3.34
Total Debt/EBIT	4.13	3.12	3.19	3.25	3.04	5.97	3.29	3.95	6.57	133.32	6.42	3.21	3.3	4.05	4.13
Net Debt/EBIT	3.93	3.03	3.06	3.16	2.97	5.37	3.14	3.82	5.95	113.08	5	2.76	2.99	3.73	3.83
EBITDA to Interest Expense	4.09	7.61	9.29	11.37	8.92	6.76	9.66	7.79	5.59	1.26	4.87	9.58	7.61	6.13	5.86
EBITDA-CapEx/Interest Expense	3.63	5.76	8.78	10.8	8.19	6.42	9.01	7.79	5.59	1.26	4.87	9.58	7.61	6.13	5.86
EBIT to Interest Expense	3.21	6.86	8.23	10.08	8.08	7.74	9.25	7.41	4.92	0.79	4.19	8.62	6.95	5.53	5.12
Interest Expense	164	137	120	115	167	234	288	340	394	445	420	403	565	695	809
Common Equity/Total Assets	-13.21	-20.26	-20.83	-32.2	-59.03	22.19	15.02	9.39	2.81	1.74	5.53	2.29	-2.66	-11.43	-13.69
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	153.01	218.87	382.65	1,542.67	2,331.63	737.69	1,833.45	- -	- -	- -
Long-Term Debt/Capital (%)	130.65	153.21	181.07	219.41	736.36	59.13	66.33	73.57	86.59	86.22	82.46	89.27	101.07	113.74	119.25
Long-Term Debt/Total Assets (%)	30.73	39.86	46.32	50.45	62.59	33.96	32.88	35.93	43.29	40.59	40.82	41.97	47.55	53.21	57.64
Total Debt/Equity (%)	-277.98	-228.4	-222.83	-171.41	-114.4	158.78	229.98	420.09	1,681.65	2,604.42	794.63	1,953.87	-1,870.97	-509.39	-453.01
Total Debt/Capital (%)	156.19	177.88	181.42	240.04	794.39	61.36	69.7	80.77	94.39	96.3	88.82	95.13	105.65	124.43	128.33
Total Debt/Total Assets (%)	36.73	46.28	46.41	55.19	67.53	35.24	34.55	39.45	47.19	45.34	43.97	44.72	49.7	58.21	62.03
Net Debt to Equity	-264.92	-221.56	-213.92	-166.68	-111.73	142.77	219.29	405.89	1,524.18	2,209.07	618.46	1,682.57	-1,691.35	-469.62	-420.21
Net Debt/Capital (%)	160.64	182.27	187.78	249.97	952.73	58.81	68.68	80.23	87.11	88.35	77.68	85.64	98.25	118.54	122.33
EBITDA	670	1,042	1,115	1,307	1,489	1,583	2,783	2,650	2,203	562	2,045	3,862	4,300	4,259	4,740
EBITDA-CapEx	596	789	1,054	1,242	1,368	1,503	2,594	2,650	2,203	562	2,045	3,862	4,300	4,259	4,740
Operating Income (Loss)	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139

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	0.04	0.03	0.05	0.03	0.03	0.17	0.07	0.05	0.03	0.15	0.22	0.07	0.04	0.05	0.04
Current Ratio	0.52	0.53	0.71	0.53	0.43	0.65	0.47	0.42	0.47	0.49	0.57	0.45	0.43	0.4	0.43
Quick Ratio	0.38	0.4	0.45	0.4	0.37	0.5	0.41	0.38	0.39	0.46	0.53	0.42	0.39	0.37	0.39
CFO/Avg Current Liab	0.43	0.37	0.42	0.43	0.48	0.39	0.41	0.39	0.26	0.26	0.19	0.34	0.42	0.34	0.38
Common Equity/Total Assets	-13.21	-20.26	-20.83	-32.2	-59.03	22.19	15.02	9.39	2.81	1.74	5.53	2.29	-2.66	-11.43	-13.69
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	153.01	218.87	382.65	1,542.67	2,331.63	737.69	1,833.45	- -	- -	- -
Long-Term Debt/Capital (%)	130.65	153.21	181.07	219.41	736.36	59.13	66.33	73.57	86.59	86.22	82.46	89.27	101.07	113.74	119.25
Long-Term Debt/Total Assets (%)	30.73	39.86	46.32	50.45	62.59	33.96	32.88	35.93	43.29	40.59	40.82	41.97	47.55	53.21	57.64
Total Debt/Equity (%)	-277.98	-228.4	-222.83	-171.41	-114.4	158.78	229.98	420.09	1,681.65	2,604.42	794.63	1,953.87	-1,870.97	-509.39	-453.01
Total Debt/Capital (%)	156.19	177.88	181.42	240.04	794.39	61.36	69.7	80.77	94.39	96.3	88.82	95.13	105.65	124.43	128.33
Total Debt/Total Assets (%)	36.73	46.28	46.41	55.19	67.53	35.24	34.55	39.45	47.19	45.34	43.97	44.72	49.7	58.21	62.03
CFO/Total Liabilities	16.28	12.97	13.89	13.55	15.66	8.62	10.99	10.98	6.92	6.75	4.88	9.75	12.03	9.42	10.26
CFO/CapEx	14.72	3.91	18.69	18.83	12.52	20.24	11.78	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.94	5.14	- -	- -	- -	4.91	7.29	6.91	6.18	4.26	5.42	7.34	8.33	8.47	8.8

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	- -	12.42	12.12	12.65	13.15	11.01	11.15	10.11	9.26	5.08	7.39	9.12	8.98	9.12	9.18
Days Sales Outstanding	- -	29.4	30.11	28.85	27.75	33.14	32.73	36.1	39.4	71.87	49.39	40	40.66	40.04	39.75
Inventory Turnover	14.72	617.58	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	24.8	0.59	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	16.18	18.26	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	22.56	19.98	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	10	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	28.81	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	11	22	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	9,665	12,035	- -	- -	- -	31,680	48,519	35,230	49,180	41,907	54,388	45,837	64,657	77,823	83,030
- Cash & Cash Equivalents	102	88	126	104	96	858	383	316	225	877	1,393	507	338	396	358
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,171	2,935	3,153	3,771	4,107	8,506	8,238	9,347	11,822	11,199	11,236	11,098	12,760	15,241	17,083
Enterprise Value	11,734	14,882	- -	- -	- -	39,328	56,374	44,261	60,777	52,229	64,231	56,428	77,079	92,668	99,755
Total Capital	1,390	1,650	1,738	1,571	517	13,863	11,820	11,572	12,525	11,629	12,650	11,666	12,078	12,249	13,312
Total Debt/Capital (%)	156.19	177.88	181.42	240.04	794.39	61.36	69.7	80.77	94.39	96.3	88.82	95.13	105.65	124.43	128.33
Total Debt / EV	0.19	0.2	- -	- -	- -	0.22	0.15	0.21	0.19	0.21	0.17	0.2	0.17	0.16	0.17
EV/Sales	0.95	1.26	- -	- -	- -	2.55	2.76	2.13	2.9	4.94	4.64	2.72	3.25	3.69	3.81
EV/EBITDA	17.51	14.28	- -	- -	- -	24.84	20.26	16.7	27.59	92.93	31.41	14.61	17.93	21.76	21.05
EV/EBIT	22.31	15.83	- -	- -	- -	27.62	22.51	18.71	33.77	621.77	36.7	16.3	19.95	24.6	24.09
EV/Cash Flow to Firm	9.94	13.77	- -	- -	- -	22.2	23.81	16.81	30.41	- -	40.96	21.15	20.91	28.31	26.03
EV/Free Cash Flow to Firm	10.61	17.97	- -	- -	- -	23.25	25.87	16.81	30.41	- -	40.96	21.15	20.91	28.31	26.03
Diluted Market Cap	10,578	12,887	- -	- -	- -	24,588	51,952	37,350	50,894	42,088	54,720	48,080	67,408	80,222	85,446
Diluted Enterprise Value	12,647	15,734	- -	- -	- -	32,236	59,807	46,381	62,491	52,410	64,563	58,671	79,830	95,067	102,171
EV per Share	35.45	47.87	- -	- -	- -	103.22	158.89	132.48	187.47	161	196.25	181.67	265.3	334.94	375.21
TTM Sales	12,317	11,814	12,784	13,796	14,486	15,407	20,452	20,758	20,972	10,571	13,857	20,773	23,713	25,100	26,186
TTM EBITDA	670	1,042	1,115	1,307	1,489	1,583	2,783	2,650	2,203	562	2,045	3,862	4,300	4,259	4,740
TTM Operating Income	526	940	988	1,159	1,350	1,810	2,663	2,521	1,938	351	1,758	3,474	3,924	3,844	4,139
TTM Cash Flow to Firm	1,180	1,081	1,224	1,304	1,629	1,772	2,368	2,633	1,999	- -	1,568	2,668	3,686	3,273	3,832
TTM Free Cash Flow to Firm	1,106	828	1,163	1,239	1,508	1,692	2,179	2,633	1,999	- -	1,568	2,668	3,686	3,273	3,832

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	10.42	17.51	- -	- -	- -	15.98	25.49	15.85	30.2	25.68	46.49	20.35	21.26	29.18	26.6
EV/EBIT	22.31	15.83	- -	- -	- -	27.62	22.51	18.71	33.77	621.77	36.7	16.3	19.95	24.6	24.09
Enterprise Value	11,734	14,882	- -	- -	- -	39,328	56,374	44,261	60,777	52,229	64,231	56,428	77,079	92,668	99,755
Low Price	25.92	29.21	- -	- -	- -	61.38	80.91	103.42	102.11	61.06	115.32	133.57	147.42	208.15	201.94
EV/Sales	0.95	1.26	- -	- -	- -	2.55	2.76	2.13	2.9	4.94	4.64	2.72	3.25	3.69	3.81
EV/EBITDA	17.51	14.28	- -	- -	- -	24.84	20.26	16.7	27.59	92.93	31.41	14.61	17.93	21.76	21.05
Price/Earnings	51.63	21.87	- -	- -	- -	29.94	35.17	19.36	39.65	- -	49.47	20.3	21.76	33.66	32.77
Price/Earnings Average	60.16	20.75	- -	- -	- -	25.38	26.34	23.67	33.44	- -	42.76	21.86	18.01	29.48	28.22
Price/Earnings High	75.55	22.55	- -	- -	- -	30.75	35.17	27.22	39.88	- -	49.85	26.17	21.97	35.25	33.06
Price/Earnings Low	45.84	16.5	- -	- -	- -	22.1	20.81	18.99	26.69	- -	34.33	18.38	14.42	24.91	21.19
Price/Book Value	-12.37	-9.37	- -	- -	- -	5.91	13.55	15.83	69.96	97.46	38.46	80.7	-94.81	-26.01	-22.02
Price/Book Value Average	-14.42	-8.88	- -	- -	- -	5.01	10.15	19.36	59.01	79.2	33.24	86.89	-78.46	-22.78	-18.96
Price/Book Value High	-18.11	-9.66	- -	- -	- -	6.07	13.55	22.26	70.37	113.38	38.76	104.03	-95.7	-27.24	-22.21
Price/Book Value Low	-10.99	-7.07	- -	- -	- -	4.37	8.01	15.53	47.09	46.06	26.69	73.04	-62.8	-19.25	-14.24
Price/Tangible Book Value	-3.86	-3.68	- -	- -	- -	-2.75	-3.42	-2.32	-2.9	-2.36	-3.28	-2.69	-3.45	-3.67	-3.61
Price/Tangible Book Value Average	-4.5	-3.49	- -	- -	- -	-2.33	-2.56	-2.83	-2.44	-1.92	-2.83	-2.89	-2.85	-3.21	-3.11
Price/Tangible Book Value High	-5.65	-3.79	- -	- -	- -	-2.83	-3.42	-3.26	-2.91	-2.75	-3.3	-3.47	-3.48	-3.84	-3.64
Price/Tangible Book Value Low	-3.43	-2.77	- -	- -	- -	-2.03	-2.03	-2.27	-1.95	-1.12	-2.28	-2.43	-2.28	-2.72	-2.33
Price/Sales	0.83	1.06	- -	- -	- -	1.57	2.51	1.78	2.41	3.98	3.92	2.3	2.83	3.18	3.25
Price/Sales Average	0.97	1	- -	- -	- -	1.33	1.88	2.17	2.03	3.24	3.39	2.48	2.34	2.79	2.8
Price/Sales High	1.21	1.09	- -	- -	- -	1.61	2.51	2.5	2.42	4.63	3.95	2.97	2.86	3.34	3.28
Price/Sales Low	0.74	0.8	- -	- -	- -	1.16	1.48	1.74	1.62	1.88	2.72	2.09	1.87	2.36	2.1
Price/Cash Flow	9.39	12.63	- -	- -	- -	14.94	23.04	15.66	29.95	25.68	46.19	20.26	21.17	29.08	26.53
Price/Cash Flow Average	10.94	11.98	- -	- -	- -	12.66	17.26	19.15	25.27	20.87	39.93	21.81	17.52	25.47	22.85
Price/Cash Flow High	13.74	13.02	- -	- -	- -	15.35	23.04	22.02	30.13	29.87	46.55	26.12	21.37	30.45	26.77
Price/Cash Flow Low	8.33	9.53	- -	- -	- -	11.03	13.63	15.36	20.16	12.14	32.06	18.34	14.02	21.52	17.16
Price/Free Cash Flow Average	12.14	16.61	- -	- -	- -	13.54	19.09	19.37	25.48	20.87	40.18	21.91	17.6	25.56	22.91
Price/Free Cash Flow High	15.25	18.05	- -	- -	- -	16.41	25.49	22.28	30.38	29.87	46.85	26.23	21.47	30.56	26.84
Price/Free Cash Flow Low	9.25	13.21	- -	- -	- -	11.79	15.08	15.54	20.33	12.14	32.26	18.42	14.09	21.59	17.2
EV/Sales Average	1.08	1.21	- -	- -	- -	2.24	2.16	2.51	2.53	4.2	4.1	2.89	2.78	3.31	3.37
EV/Sales High	1.32	1.29	- -	- -	- -	2.61	2.76	2.82	2.91	5.59	4.67	3.35	3.28	3.84	3.84
EV/Sales Low	0.86	1.01	- -	- -	- -	2.01	1.79	2.1	2.13	2.85	3.43	2.51	2.33	2.89	2.69
EV/EBITDA Average	19.9	13.69	- -	- -	- -	21.8	15.88	19.66	24.1	78.96	27.8	15.52	15.33	19.49	18.61
EV/EBITDA High	24.2	14.64	- -	- -	- -	25.39	20.26	22.1	27.72	105.11	31.61	18.04	18.07	22.62	21.2
EV/EBITDA Low	15.89	11.45	- -	- -	- -	19.6	13.14	16.45	20.29	53.61	23.27	13.48	12.85	17.01	14.86
EV/EBIT Average	25.34	15.17	- -	- -	- -	24.23	17.65	22.02	29.49	528.3	32.49	17.32	17.06	22.04	21.31
EV/EBIT High	30.82	16.23	- -	- -	- -	28.22	22.51	24.75	33.92	703.27	36.94	20.13	20.11	25.57	24.27
EV/EBIT Low	20.25	12.69	- -	- -	- -	21.79	14.6	18.42	24.83	358.68	27.19	15.04	14.3	19.23	17
Last Price	29.2	38.71	- -	- -	- -	83.15	136.75	105.45	151.7	129.18	166.17	147.57	222.54	281.28	312.3
High Price	42.73	39.92	- -	- -	- -	85.41	136.75	148.24	152.58	150.28	167.44	190.25	224.65	294.55	315.09
Enterprise Value Average	13,331	14,263	- -	- -	- -	34,502	44,196	52,104	53,083	44,377	56,851	59,945	65,934	83,012	88,229
Enterprise Value High	16,212	15,257	- -	- -	- -	40,190	56,374	58,559	61,064	59,074	64,646	69,682	77,691	96,338	100,496
Enterprise Value Low	10,649	11,928	- -	- -	- -	31,032	36,561	43,585	44,701	30,129	47,587	52,076	55,253	72,434	70,415

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	331	311	298	276	256	381	355	334	324	324	327	311	291	277	266
Diluted Weighted Avg Shares	362	333	305	297	273	296	380	354	336	326	329	326	303	285	274
Basic Weighted Avg Shares	350	323	305	290	267	291	375	350	333	326	327	324	302	284	273
Revenue per Share	35.18	36.62	41.91	47.59	54.19	52.96	54.51	59.29	63.04	32.45	42.35	64.04	78.65	88.32	95.95
EBITDA per Share	1.91	3.23	3.66	4.51	5.57	5.44	7.42	7.57	6.62	1.72	6.25	11.91	14.26	14.99	17.37
Operating Income per Share	1.5	2.91	3.24	4	5.05	6.22	7.1	7.2	5.83	1.08	5.37	10.71	13.01	13.53	15.17
Basic EPS, GAAP	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Basic EPS from Cont Ops	0.57	1.77	2.05	2.6	3.21	2.78	3.89	5.45	3.83	-0.82	3.36	7.27	10.23	8.36	9.53
Diluted EPS, GAAP	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51
Diluted EPS from Cont Ops	0.55	1.72	2.05	2.54	3.15	2.73	3.84	5.38	3.79	-0.82	3.34	7.24	10.18	8.33	9.51
Dividend per Share	0.38	0.59	0.64	0.77	0.95	1.29	1.28	1.55	1.84	0.48	- -	0.99	1.95	2.4	2.63
Cash Flow per Share	3.11	3.07	3.74	4.22	5.67	5.57	5.94	6.73	5.06	5.03	3.6	7.28	10.51	9.67	11.77
Free Cash Flow per Basic Share	2.9	2.28	3.54	4	5.22	5.29	5.43	6.73	5.06	5.03	3.6	7.28	10.51	9.67	11.77
Cash & Equivalents per Share	0.31	0.28	0.42	0.38	0.37	2.25	1.08	0.95	0.69	2.7	4.26	1.63	1.16	1.43	1.35
Book Value per Share	-2.36	-4.13	-4.75	-7.96	-14.01	14.06	10.1	6.66	2.17	1.33	4.32	1.83	-2.35	-10.81	-14.18
Tangible Book Value per Share	-7.56	-10.53	-11.48	-16.09	-23.35	-30.21	-39.94	-45.48	-52.39	-54.67	-50.67	-54.9	-64.56	-76.66	-86.56