Morningstar, Inc. Financial Ratios — MORN 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 (%)	26.86	23.87	22.64	12.67	19.21	20.11	15.04	17.65	13.03	17.15	13.26	4.61	8.97	21.02	18.19
Return on Assets (%)	8.71	9.76	11.92	7.67	13	13.53	9.93	12.8	7.95	8.83	6.95	2.22	4.1	10.64	10.48
Return on Capital (%)	27.02	23.87	22.64	12.4	18.35	17.18	12.54	15.88	10.27	11.85	9.81	3.52	6.52	14.66	12.88
Return on Invested Capital (%)	11.65	12.49	16.52	16.67	19	16.01	13.45	17.3	10.55	9.28	10.05	4.26	7.54	13.19	15.11
Gross Margin (%)	62.74	62.51	61.13	58.08	58.15	56.89	57.6	59.69	59.02	59.96	58.9	58.34	58.62	60.63	61.03
EBITDA Margin (%)	28.72	29.43	30.99	29.14	32.33	31.49	28.63	30.64	26.06	25.53	23.99	17.88	20.38	26.86	28.37
Operating Margin (%)	21.92	22.89	24.45	21.92	24.16	22.64	18.62	21.16	16.08	15.49	15.12	8.97	11.31	18.5	20.61
Incremental Operating Margin (%)	22.82	45.57	50.06	-6.63	83.62	-100	-9.73	42.51	-16.47	12.16	13.49	-52.07	37.38	80.42	48.77
Pretax Margin (%)	22.19	23.34	25.49	15	24.56	28.16	19.86	22.84	16.84	20.37	14.74	6.98	8.9	21.59	20.4
Profit Margin (%)	15.58	16.42	17.69	10.3	16.81	20.16	15.02	17.94	12.89	16.09	11.38	3.77	6.92	16.26	15.3
Net Income to Common Margin (%)	15.58	16.42	17.69	10.3	16.81	20.16	15.02	17.94	12.89	16.09	11.38	3.77	6.92	16.26	15.3
Effective Tax Rate (%)	31.16	34.42	31.46	31.32	32.37	28.32	23.69	20.52	22.97	21.1	24.99	43.26	18.18	21.17	24.35
Dvd Payout Ratio (%)	10.22	24.83	14.11	38.95	25.34	23.54	28.71	23.28	31.45	22.99	28.04	87.23	45.29	18.73	20.55
Sustainable Growth Rate (%)	24.11	17.95	19.45	7.73	14.34	15.38	10.72	13.54	8.93	13.21	9.54	0.59	4.91	17.08	14.45

Credit (USD)

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	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	- -	- -	- -	30	35	250	180	70	688	627	532	1,324	1,160	904	1,261
ST Debt	- -	- -	- -	30	35	- -	- -	- -	47	40	36	69	68	35	42
LT Debt	- -	- -	- -	- -	- -	250	180	70	641	587	495	1,254	1,092	869	1,219
Total Debt/EBITDA	- -	- -	- -	0.14	0.14	0.99	0.69	0.22	2.24	1.77	1.3	3.96	2.79	1.48	1.82
Net Debt/EBITDA	-1.11	-0.85	-0.78	-0.7	-0.67	-0.04	-0.49	-0.96	0.58	0.07	-0.31	2.19	1.53	0.32	0.86
Total Debt/EBIT	- -	- -	- -	0.18	0.18	1.38	1.06	0.32	3.63	2.91	2.07	7.89	5.03	2.15	2.5
Net Debt/EBIT	-1.45	-1.09	-0.99	-0.93	-0.9	-0.05	-0.76	-1.39	0.94	0.12	-0.48	4.37	2.75	0.47	1.19
EBITDA to Interest Expense	137.58	623.04	949.12	443	510	167.67	47.45	173.61	35.32	31.95	46.86	11.77	8.04	12.25	17.34
EBITDA-CapEx/Interest Expense	137.58	623.04	949.12	443	510	167.67	47.45	173.61	35.32	31.95	46.86	11.77	8.04	12.25	17.34
EBIT to Interest Expense	105.02	484.46	748.68	333.2	381.2	120.53	30.87	119.89	21.79	19.39	29.54	5.91	4.46	8.43	12.6
Interest Expense	1	- -	- -	- -	- -	2	6	2	9	11	9	28	52	50	40
Common Equity/Total Assets	34.9	47.64	57.69	63.5	71.84	63.8	68.2	76.68	51.37	51.54	53.32	44.18	47.33	53.8	61.45
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	35.88	22.36	7.49	59.14	46.15	34.97	103.9	82.22	53.68	99.79
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	22.48	15.81	5.91	33.63	29.11	24.06	43.87	39.4	30.89	35.17
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	18.51	12.81	4.81	27.03	21.77	17.29	36.09	32.08	24.48	33.96
Total Debt/Equity (%)	- -	- -	- -	4.58	5.46	35.88	22.36	7.49	63.46	49.29	37.54	109.65	87.38	55.85	103.21
Total Debt/Capital (%)	- -	- -	- -	4.46	4.52	22.48	15.81	5.91	36.09	31.08	25.83	46.3	41.87	32.13	36.37
Total Debt/Total Assets (%)	- -	- -	- -	2.97	3.4	18.51	12.81	4.81	29	23.25	18.57	38.09	34.09	25.47	35.13
Net Debt to Equity	-23.39	-22.55	-24.33	-23.72	-26.87	-1.31	-15.93	-32.02	16.52	2.09	-8.79	60.72	47.79	12.1	48.95
Net Debt/Capital (%)	-95.34	-49.09	-39.34	-31.86	-30.33	-1.07	-15.44	-36.7	11.39	1.67	-7.9	29.53	26.08	8.48	19.98
EBITDA	181	194	216	222	255	252	261	312	307	355	408	334	416	611	694
EBITDA-CapEx	181	194	216	222	255	252	261	312	307	355	408	334	416	611	694
Operating Income (Loss)	138	151	171	167	191	181	170	216	190	215	257	168	231	421	504

Liquidity (USD)

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	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	1.74	1.25	1.11	0.76	0.82	1.03	1.09	1.09	0.74	0.74	0.7	0.47	0.44	0.57	0.5
Current Ratio	2.26	1.84	1.66	1.33	1.35	1.6	1.64	1.66	1.22	1.17	1.13	0.92	0.93	1.05	0.99
Quick Ratio	2.18	1.75	1.55	1.23	1.27	1.53	1.55	1.57	1.13	1.07	1.05	0.82	0.83	0.95	0.89
CFO/Avg Current Liab	0.63	0.55	0.71	0.48	0.81	0.71	0.81	0.92	0.78	0.68	0.64	0.36	0.36	0.64	0.58
Common Equity/Total Assets	34.9	47.64	57.69	63.5	71.84	63.8	68.2	76.68	51.37	51.54	53.32	44.18	47.33	53.8	61.45
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	35.88	22.36	7.49	59.14	46.15	34.97	103.9	82.22	53.68	99.79
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	22.48	15.81	5.91	33.63	29.11	24.06	43.87	39.4	30.89	35.17
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	18.51	12.81	4.81	27.03	21.77	17.29	36.09	32.08	24.48	33.96
Total Debt/Equity (%)	- -	- -	- -	4.58	5.46	35.88	22.36	7.49	63.46	49.29	37.54	109.65	87.38	55.85	103.21
Total Debt/Capital (%)	- -	- -	- -	4.46	4.52	22.48	15.81	5.91	36.09	31.08	25.83	46.3	41.87	32.13	36.37
Total Debt/Total Assets (%)	- -	- -	- -	2.97	3.4	18.51	12.81	4.81	29	23.25	18.57	38.09	34.09	25.47	35.13
CFO/Total Liabilities	52.36	46.34	55.01	38.38	62.18	32.67	41.63	60.64	25.98	26.98	31.1	13.13	15.24	30.65	24.9
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	8.57	9.3	10.22	9.14	9.86	7.08	8.24	9.76	6.66	7.94	9.72	5.75	7.24	8.53	6.79

Working Capital (USD)

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	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	5.63	5.78	6.11	6.06	5.72	5.6	6.2	6.37	6.54	7.06	7.17	6.49	6.26	6.48	6.53
Days Sales Outstanding	64.8	63.12	59.72	60.22	63.86	65.15	58.85	57.33	55.83	51.7	50.91	56.27	58.35	56.31	55.86
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	11.37	5.79	6.32	8.34	8.98	8.22	8.24	7.94	17.76	- -	- -	- -	21.52	10.81	10.29
Accounts Payable Turnover Days	32.11	62.99	57.77	43.78	40.64	44.42	44.28	45.99	20.55	- -	- -	- -	16.96	33.76	35.47
Cash Conversion Cycle	32.69	0.13	1.95	16.44	23.22	20.73	14.57	11.34	35.28	51.7	50.91	56.27	41.39	22.55	20.39
Inventory to Cash Days	64.8	63.12	59.72	60.22	63.86	65.15	58.85	57.33	55.83	51.7	50.91	56.27	58.35	56.31	55.86
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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	2,974	3,047	3,604	2,891	3,554	3,163	4,141	4,679	6,461	9,934	14,706	9,227	12,194	14,413	9,105
- Cash & Cash Equivalents	200	164	168	185	207	259	308	369	334	422	484	377	338	503	474
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	2	1	1	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	30	35	250	180	70	688	627	532	1,324	1,160	904	1,261
Enterprise Value	2,506	2,727	3,307	2,697	3,341	3,109	3,967	4,353	6,781	10,097	14,691	10,136	12,965	14,766	9,838
Total Capital	411	498	596	672	774	1,112	1,139	1,185	1,906	2,016	2,058	2,859	2,771	2,813	3,467
Total Debt/Capital (%)	- -	- -	- -	4.46	4.52	22.48	15.81	5.91	36.09	31.08	25.83	46.3	41.87	32.13	36.37
Total Debt / EV	- -	- -	- -	0.01	0.01	0.08	0.05	0.02	0.1	0.06	0.04	0.13	0.09	0.06	0.13
EV/Sales	3.97	4.14	4.74	3.55	4.24	3.89	4.35	4.27	5.75	7.27	8.65	5.42	6.36	6.49	4.02
EV/EBITDA	13.82	14.07	15.28	12.18	13.1	12.36	15.2	13.93	22.07	28.47	36.03	30.31	31.2	24.16	14.18
EV/EBIT	18.1	18.1	19.37	16.19	17.53	17.2	23.36	20.17	35.76	46.92	57.16	60.4	56.22	35.09	19.52
EV/Cash Flow to Firm	15.11	18.65	17.7	19.7	13.81	14.48	15.6	13.77	19.88	25.69	32.19	32.29	36.14	23.4	15.87
EV/Free Cash Flow to Firm	15.11	18.65	17.7	19.7	13.81	14.48	15.6	13.77	19.88	25.69	32.19	32.29	36.14	23.4	15.87
Diluted Market Cap	3,031	3,088	3,630	2,906	3,562	3,185	4,170	4,723	6,537	10,004	14,842	9,292	12,280	14,514	9,170
Diluted Enterprise Value	2,832	2,925	3,463	2,751	3,390	3,176	4,042	4,424	6,890	10,208	14,890	10,239	13,102	14,916	9,957
EV per Share	50.09	56.23	71.64	60.37	75.58	72.31	92.91	102.19	158.81	235.36	341.65	237.93	304.34	345.01	234.79
TTM Sales	631	658	698	760	789	799	912	1,020	1,179	1,390	1,699	1,871	2,039	2,275	2,446
TTM EBITDA	181	194	216	222	255	252	261	312	307	355	408	334	416	611	694
TTM Operating Income	138	151	171	167	191	181	170	216	190	215	257	168	231	421	504
TTM Cash Flow to Firm	166	146	187	137	242	215	254	316	341	393	456	314	359	631	620
TTM Free Cash Flow to Firm	166	146	187	137	242	215	254	316	341	393	456	314	359	631	620

Multiples (USD)

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	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	18.37	21.15	19.45	21.27	14.75	14.9	16.67	15	19.55	26.03	32.99	31.2	38.81	24.53	15.55
EV/EBIT	18.1	18.1	19.37	16.19	17.53	17.2	23.36	20.17	35.76	46.92	57.16	60.4	56.22	35.09	19.52
Enterprise Value	2,506	2,727	3,307	2,697	3,341	3,109	3,967	4,353	6,781	10,097	14,691	10,136	12,965	14,766	9,838
Low Price	51.11	54.71	61.31	61.03	62.14	67.74	68.43	90	99.67	102.59	213.55	207.11	163.28	269.51	202.89
EV/Sales	3.97	4.14	4.74	3.55	4.24	3.89	4.35	4.27	5.75	7.27	8.65	5.42	6.36	6.49	4.02
EV/EBITDA	13.82	14.07	15.28	12.18	13.1	12.36	15.2	13.93	22.07	28.47	36.03	30.31	31.2	24.16	14.18
Price/Earnings	30.24	28.19	29.19	36.92	26.8	19.65	30.25	25.57	42.51	44.43	76.08	130.88	86.42	38.97	24.33
Price/Earnings Average	29.54	27.08	27.48	40.94	25.88	21.31	25.33	26.95	39.81	30.87	58.44	151.01	68.29	35.79	30.53
Price/Earnings High	32.56	29.44	32.13	47.96	28.96	23.89	30.91	33.6	46.05	44.52	77.9	207.59	87.3	42.23	37.9
Price/Earnings Low	26	24.55	22.91	34.82	20.71	18.09	21.34	20.95	28	19.68	47.5	125.15	49.3	31.18	22.72
Price/Book Value	7.27	6.14	6.06	4.51	4.81	3.67	4.32	4.2	5.3	7.15	9.63	6.01	7.57	7.55	4.13
Price/Book Value Average	7.1	5.9	5.71	5	4.64	3.98	3.62	4.42	4.97	4.97	7.4	6.94	5.98	6.93	5.18
Price/Book Value High	7.83	6.41	6.67	5.85	5.19	4.46	4.41	5.52	5.75	7.17	9.87	9.53	7.65	8.18	6.43
Price/Book Value Low	6.25	5.35	4.76	4.25	3.72	3.38	3.05	3.44	3.49	3.17	6.02	5.75	4.32	6.04	3.85
Price/Tangible Book Value	7.46	10.53	13.81	15.34	17.58	165.61	28.63	15.39	-22.36	-31.67	-123.27	-10.1	-16.58	-40.92	-11.85
Price/Tangible Book Value Average	7.29	10.11	13.01	17.02	16.97	179.6	23.98	16.22	-20.94	-22	-94.69	-11.66	-13.1	-37.59	-14.87
Price/Tangible Book Value High	8.03	11	15.21	19.93	18.99	201.36	29.27	20.22	-24.23	-31.74	-126.23	-16.03	-16.75	-44.36	-18.46
Price/Tangible Book Value Low	6.41	9.17	10.85	14.47	13.58	152.5	20.21	12.61	-14.73	-14.03	-76.97	-9.66	-9.46	-32.75	-11.07
Price/Sales	4.71	4.63	5.16	3.8	4.51	3.96	4.54	4.59	5.48	7.15	8.65	4.93	5.98	6.34	3.72
Price/Sales Average	4.6	4.45	4.86	4.22	4.35	4.3	3.8	4.84	5.13	4.97	6.65	5.69	4.73	5.82	4.67
Price/Sales High	5.07	4.83	5.68	4.94	4.87	4.82	4.64	6.03	5.94	7.16	8.86	7.82	6.04	6.87	5.8
Price/Sales Low	4.05	4.03	4.05	3.59	3.48	3.65	3.2	3.76	3.61	3.17	5.4	4.72	3.41	5.07	3.48
Price/Cash Flow	18.03	20.87	19.31	21.16	14.72	14.8	16.56	14.86	19.32	25.85	32.69	30.98	38.54	24.36	15.44
Price/Cash Flow Average	17.61	20.04	18.18	23.47	14.21	16.05	13.87	15.67	18.09	17.96	25.11	35.75	30.45	22.38	19.37
Price/Cash Flow High	19.41	21.8	21.25	27.49	15.9	18	16.92	19.53	20.93	25.91	33.47	49.14	38.93	26.41	24.05
Price/Cash Flow Low	15.5	18.17	15.16	19.96	11.37	13.63	11.68	12.18	12.73	11.45	20.41	29.63	21.98	19.5	14.42
Price/Free Cash Flow Average	17.95	20.31	18.31	23.59	14.24	16.16	13.96	15.81	18.31	18.08	25.34	36	30.67	22.54	19.51
Price/Free Cash Flow High	19.78	22.09	21.41	27.63	15.94	18.12	17.04	19.72	21.18	26.09	33.78	49.49	39.21	26.59	24.22
Price/Free Cash Flow Low	15.8	18.42	15.27	20.06	11.4	13.73	11.77	12.29	12.88	11.53	20.6	29.84	22.14	19.63	14.52
EV/Sales Average	4.29	4.2	4.62	4.01	4.13	4.28	3.66	4.54	5.43	5.11	6.68	6.2	5.13	6	4.99
EV/Sales High	4.76	4.59	5.44	4.74	4.65	4.8	4.5	5.74	6.24	7.31	8.89	8.33	6.45	7.04	6.12
EV/Sales Low	3.74	3.78	3.81	3.38	3.26	3.64	3.06	3.47	3.91	3.31	5.43	5.22	3.82	5.25	3.8
EV/EBITDA Average	14.93	14.26	14.91	13.78	12.78	13.6	12.8	14.83	20.84	20.03	27.83	34.67	25.17	22.32	17.6
EV/EBITDA High	16.56	15.59	17.57	16.26	14.39	15.26	15.72	18.72	23.93	28.64	37.05	46.6	31.63	26.22	21.58
EV/EBITDA Low	13.01	12.85	12.31	11.61	10.1	11.55	10.7	11.31	15	12.98	22.64	29.22	18.72	19.53	13.39
EV/EBIT Average	19.55	18.34	18.9	18.32	17.1	18.92	19.67	21.47	33.78	33.02	44.14	69.09	45.35	32.42	24.23
EV/EBIT High	21.7	20.04	22.27	21.61	19.25	21.22	24.17	27.11	38.79	47.21	58.78	92.86	56.99	38.08	29.71
EV/EBIT Low	17.04	16.53	15.6	15.44	13.51	16.06	16.45	16.38	24.31	21.4	35.92	58.22	33.73	28.37	18.43
Last Price	59.45	62.83	78.09	64.71	80.41	73.56	96.97	109.84	151.31	231.57	341.99	216.59	286.24	336.76	217.31
High Price	64	65.62	85.97	84.05	86.88	89.44	99.11	144.34	163.94	232.06	350.21	343.54	289.17	365	338.5
Enterprise Value Average	2,706	2,764	3,227	3,052	3,259	3,422	3,340	4,633	6,404	7,106	11,345	11,593	10,458	13,641	12,211
Enterprise Value High	3,003	3,020	3,801	3,601	3,668	3,837	4,104	5,850	7,354	10,160	15,107	15,582	13,141	16,023	14,970
Enterprise Value Low	2,358	2,491	2,663	2,572	2,575	2,904	2,794	3,535	4,609	4,605	9,230	9,770	7,778	11,936	9,288

Shares Outstanding	50	47	45	44	43	43	43	43	43	43	43	42	43	43	40
Diluted Weighted Avg Shares	51	49	46	45	44	43	43	43	43	43	43	43	43	43	42
Basic Weighted Avg Shares	50	48	46	45	44	43	43	43	43	43	43	43	43	43	42
Revenue per Share	12.62	13.57	15.13	17.01	17.85	18.57	21.35	23.94	27.61	32.39	39.52	43.91	47.85	53.16	58.37
EBITDA per Share	3.62	4	4.69	4.96	5.77	5.85	6.11	7.34	7.2	8.27	9.48	7.85	9.75	14.28	16.56
Operating Income per Share	2.77	3.11	3.7	3.73	4.31	4.2	3.98	5.07	4.44	5.02	5.98	3.94	5.41	9.83	12.03
Basic EPS, GAAP	1.97	2.23	2.68	1.75	3	3.74	3.21	4.3	3.56	5.21	4.5	1.65	3.31	8.64	8.93
Basic EPS from Cont Ops	1.97	2.12	2.67	1.75	3	3.74	3.21	4.3	3.56	5.21	4.5	1.65	3.31	8.64	8.93
Diluted EPS, GAAP	1.93	2.2	2.66	1.74	2.99	3.72	3.18	4.26	3.52	5.18	4.45	1.64	3.29	8.58	8.87
Diluted EPS from Cont Ops	1.93	2.09	2.65	1.74	3	3.72	3.18	4.26	3.52	5.18	4.45	1.64	3.29	8.58	8.87
Dividend per Share	0.2	0.53	0.38	0.68	0.76	0.88	0.92	1	1.12	1.2	1.26	1.44	1.5	1.62	1.84
Cash Flow per Share	3.3	3.01	4.04	3.06	5.46	4.97	5.86	7.39	7.83	8.96	10.46	6.99	7.43	13.82	14.07
Free Cash Flow per Basic Share	3.3	3.01	4.04	3.06	5.46	4.97	5.86	7.39	7.83	8.96	10.46	6.99	7.43	13.82	14.07
Cash & Equivalents per Share	9.4	6.63	6.47	5.03	5.62	7.07	8.27	9.29	8.61	10.82	12.7	9.73	9.13	12.87	12.62
Book Value per Share	8.18	10.23	12.88	14.36	16.72	20.04	22.45	26.17	28.52	32.39	35.5	36.03	37.81	44.61	52.65
Tangible Book Value per Share	7.97	5.97	5.65	4.22	4.57	0.44	3.39	7.14	-6.77	-7.31	-2.77	-21.44	-17.26	-8.23	-18.33

Morningstar, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)