BorgWarner Inc. Financial Ratios — BGW 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 (%)	24.6	18.52	18.8	18.28	16.1	17.57	12.69	23.44	16.7	8.98	8.03	13.32	9.58	5.95	5.05
Return on Assets (%)	9.56	8.11	9.38	9.27	7.19	6.74	4.73	9.36	7.54	3.89	3.29	5.62	3.97	2.38	2
Return on Capital (%)	16.09	12.67	13.74	13.14	10.4	10.43	7.44	14.84	10.93	5.4	4.5	7.78	5.56	3.43	2.86
Return on Invested Capital (%)	16.13	12.75	13.95	13.6	11.05	11.06	8.24	15.37	12.07	4.05	6.96	6.59	7.38	4.22	3.4
Gross Margin (%)	19.82	20.42	20.94	21.15	21.23	21.26	21.58	21.18	20.66	18.79	18.41	18.75	18.09	18.8	18.68
EBITDA Margin (%)	15.19	14.5	15.53	15.58	15.06	15.04	15.1	15.39	17.13	11.67	12.61	12.35	12.27	8.65	8.77
Operating Margin (%)	11.1	11.42	12.26	12.7	12.66	12.24	12.41	12.23	12.1	9.1	9.31	8.57	8.9	9.25	9.24
Incremental Operating Margin (%)	18.13	44.67	36.27	16.41	13.83	9.1	14.46	9.85	16.02	10,166.67	10.62	- -	11.52	- -	8.7
Pretax Margin (%)	10.77	10.59	11.69	11.8	10.91	10.39	10.85	11.36	12.44	9.48	4.32	7.23	6.98	3.83	3.66
Profit Margin (%)	7.73	6.97	8.39	7.9	7.19	6.56	4.49	8.84	7.34	4.92	4.55	7.47	4.4	2.4	1.93
Net Income to Common Margin (%)	8.03	7.05	8.39	7.9	7.19	6.56	4.49	8.84	7.34	4.92	4.55	7.47	4.4	2.4	1.93
Effective Tax Rate (%)	25.5	31.35	25.11	29.85	29.87	32.46	54.56	17.64	37	41.18	12.75	21.36	29.16	20.59	36.07
Dvd Payout Ratio (%)	3.51	1.06	8.38	16.14	17.94	16.72	23.57	13.67	16.51	23.03	29.62	20.13	16.84	20.04	30.28
Sustainable Growth Rate (%)	23.74	18.33	17.22	15.33	13.21	14.63	9.7	20.24	13.95	6.91	5.65	10.64	7.96	4.76	3.52

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	1,329	1,067	1,223	1,340	2,550	2,220	2,188	2,114	2,045	4,006	4,522	4,307	3,929	4,343	4,057
ST Debt	578	243	202	624	441	176	85	173	304	96	109	82	110	436	41
LT Debt	751	824	1,021	716	2,109	2,044	2,104	1,941	1,741	3,910	4,413	4,225	3,819	3,907	4,016
Total Debt/EBITDA	1.23	1.02	1.06	1.04	2.11	1.63	1.48	1.3	1.17	3.38	3.04	2.76	2.26	3.56	3.23
Net Debt/EBITDA	0.9	0.34	0.25	0.42	1.63	1.3	1.11	0.85	0.65	1.8	1.67	2	1.29	1.7	1.26
Total Debt/EBIT	1.67	1.42	1.43	1.39	2.87	2.28	2.04	1.78	1.57	6.48	4.95	4.27	3.39	7.95	7.57
Net Debt/EBIT	1.22	0.47	0.33	0.56	2.22	1.82	1.53	1.16	0.87	3.46	2.72	3.09	1.94	3.79	2.96
EBITDA to Interest Expense	14.48	26.43	33.76	35.55	20.01	16.13	20.85	27.47	31.67	16.25	18.15	21.99	23.86	14.51	12.68
EBITDA-CapEx/Interest Expense	14.48	26.43	33.76	35.55	20.01	16.13	20.85	27.47	31.67	16.25	18.15	21.99	23.86	14.51	12.68
EBIT to Interest Expense	10.58	20.81	26.66	28.97	16.81	13.13	17.13	21.83	22.36	12.67	13.4	15.25	17.3	15.51	13.36
Interest Expense	75	39	34	36	60	85	71	59	55	73	82	71	73	84	99
Common Equity/Total Assets	40.07	48.16	51.48	50.03	40.27	36.43	37.97	41.86	48.51	40.1	41.92	42.51	40.32	39.53	39.52
Long-Term Debt/Equity (%)	30.63	26.18	28.11	19.41	58.07	61.89	54.99	44.67	35.94	58.15	60.77	56.27	62.96	68.47	71.54
Long-Term Debt/Capital (%)	19.86	19.55	21.03	14.24	34.11	37.01	34.98	30.05	25.27	36.44	37.45	35.76	38.21	38.88	41.53
Long-Term Debt/Total Assets (%)	12.61	12.87	14.76	9.91	23.89	23.13	21.49	19.23	17.94	24.39	26.62	24.86	26.42	27.92	29.17
Total Debt/Equity (%)	54.18	33.92	33.66	36.31	70.23	67.22	57.2	48.65	42.22	59.58	62.27	57.37	64.77	76.11	72.27
Total Debt/Capital (%)	35.14	25.33	25.18	26.64	41.25	40.2	36.39	32.73	29.69	37.33	38.37	36.45	39.31	43.22	41.95
Total Debt/Total Assets (%)	22.31	16.67	17.68	18.54	28.9	25.12	22.36	20.94	21.08	24.99	27.28	25.34	27.18	31.04	29.46
Net Debt to Equity	39.52	11.17	7.79	14.69	54.32	53.78	42.94	31.65	23.29	31.78	34.19	41.52	37.03	36.23	28.25
Net Debt/Capital (%)	28.33	10.05	7.23	12.81	35.2	34.97	30.04	24.04	18.62	23.54	24.98	29.04	26.55	25.98	21.55
EBITDA	1,081	1,042	1,155	1,294	1,209	1,365	1,480	1,621	1,742	1,186	1,488	1,561	1,742	1,219	1,255
EBITDA-CapEx	1,081	1,042	1,155	1,294	1,209	1,365	1,480	1,621	1,742	1,186	1,488	1,561	1,742	1,219	1,255
Operating Income (Loss)	789	820	912	1,054	1,015	1,111	1,216	1,288	1,230	925	1,099	1,083	1,263	1,303	1,323

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	0.19	0.45	0.58	0.37	0.25	0.21	0.22	0.31	0.36	0.43	0.49	0.26	0.41	0.57	0.7
Current Ratio	1.12	1.54	1.72	1.37	1.33	1.39	1.46	1.59	1.65	1.62	1.74	1.56	1.65	1.79	2.07
Quick Ratio	0.81	1.16	1.35	1.03	0.95	1.02	1.06	1.14	1.19	1.2	1.25	0.84	1.24	1.36	1.61
CFO/Avg Current Liab	0.43	0.5	0.45	0.42	0.38	0.47	0.52	0.47	0.43	0.39	0.32	0.29	0.35	0.37	0.48
Common Equity/Total Assets	40.07	48.16	51.48	50.03	40.27	36.43	37.97	41.86	48.51	40.1	41.92	42.51	40.32	39.53	39.52
Long-Term Debt/Equity (%)	30.63	26.18	28.11	19.41	58.07	61.89	54.99	44.67	35.94	58.15	60.77	56.27	62.96	68.47	71.54
Long-Term Debt/Capital (%)	19.86	19.55	21.03	14.24	34.11	37.01	34.98	30.05	25.27	36.44	37.45	35.76	38.21	38.88	41.53
Long-Term Debt/Total Assets (%)	12.61	12.87	14.76	9.91	23.89	23.13	21.49	19.23	17.94	24.39	26.62	24.86	26.42	27.92	29.17
Total Debt/Equity (%)	54.18	33.92	33.66	36.31	70.23	67.22	57.2	48.65	42.22	59.58	62.27	57.37	64.77	76.11	72.27
Total Debt/Capital (%)	35.14	25.33	25.18	26.64	41.25	40.2	36.39	32.73	29.69	37.33	38.37	36.45	39.31	43.22	41.95
Total Debt/Total Assets (%)	22.31	16.67	17.68	18.54	28.9	25.12	22.36	20.94	21.08	24.99	27.28	25.34	27.18	31.04	29.46
CFO/Total Liabilities	20.2	27	21.88	22.67	16.71	18.72	19.79	19.58	20.75	12.72	12.99	12.44	16.66	16.68	20.21
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	3.88	4.19	4.93	4.9	3.74	3.71	3.85	3.71	4.22	2.53	2.9	2.71	3.34	3.26	3.53

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	7.5	7	7.14	7.32	6.11	6.32	6.16	6.08	5.91	4.67	4.58	5.43	6.1	5.88	6.12
Days Sales Outstanding	48.66	52.13	51.1	49.84	59.69	57.78	59.3	60.03	61.76	78.08	79.75	67.24	59.8	62.09	59.66
Inventory Turnover	12.89	12.68	12.98	13.59	10.28	10.47	10.92	10.73	10.16	7.89	6.83	7.46	9.19	8.92	9.47
Days Inventory Outstanding	28.31	28.79	28.11	26.86	35.5	34.87	33.43	34.02	35.93	46.27	53.44	48.9	39.7	40.91	38.53
Accounts Payable Turnover	7	6.62	6.58	6.89	5.93	5.68	5.57	5.49	5.76	4.75	4.27	4.5	5	4.97	5.76
Accounts Payable Turnover Days	52.13	55.13	55.49	52.97	61.54	64.24	65.55	66.52	63.37	76.83	85.5	81.12	73.02	73.44	63.38
Cash Conversion Cycle	24.84	25.8	23.73	23.73	33.64	28.42	27.18	27.53	34.32	47.52	47.69	35.03	26.47	29.55	34.81
Inventory to Cash Days	20.35	23.34	22.98	22.98	24.19	22.91	25.87	26.01	25.84	31.81	26.31	18.33	20.1	21.18	21.13
Inventories	454	448	458	506	724	641	766	781	807	1,286	1,534	1,217	1,313	1,251	1,207
Raw Materials	254	264	280	320	413	379	470	485	502	827	1,057	919	991	915	888
Work In Process	91	82	78	89	103	103	127	114	113	150	175	136	160	147	157
Finished Goods	124	118	116	116	222	175	183	199	207	324	327	187	194	189	162
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	5,936	6,920	10,898	10,885	8,186	7,124	9,399	6,183	7,706	7,838	9,192	8,041	8,225	6,945	9,464
- Cash & Cash Equivalents	360	716	940	798	578	444	545	739	832	1,650	1,844	1,083	1,534	2,094	2,313
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	65	64	72	75	78	84	109	119	138	296	314	284	238	174	172
+ Total Debt	1,329	1,067	1,223	1,340	2,550	2,220	2,188	2,114	2,045	4,006	4,522	4,307	3,929	4,343	4,057
Enterprise Value	6,971	7,335	11,253	11,502	10,236	8,983	11,151	7,677	9,057	10,490	12,184	11,549	10,858	9,368	11,380
Total Capital	3,782	4,213	4,855	5,031	6,182	5,521	6,014	6,459	6,889	10,730	11,784	11,815	9,995	10,049	9,671
Total Debt/Capital (%)	35.14	25.33	25.18	26.64	41.25	40.2	36.39	32.73	29.69	37.33	38.37	36.45	39.31	43.22	41.95
Total Debt / EV	0.19	0.15	0.11	0.12	0.25	0.25	0.2	0.28	0.23	0.38	0.37	0.37	0.36	0.46	0.36
EV/Sales	0.98	1.02	1.51	1.38	1.28	0.99	1.14	0.73	0.89	1.03	1.03	0.91	0.76	0.67	0.79
EV/EBITDA	6.45	7.04	9.75	8.89	8.47	6.58	7.53	4.74	5.2	8.84	8.19	7.4	6.23	7.69	9.07
EV/EBIT	8.74	9.74	13.16	11.94	11.52	9.23	10.4	6.45	6.95	16.97	13.33	11.45	9.36	17.16	21.23
EV/Cash Flow to Firm	9.13	8.1	15.12	13.9	11.25	8.22	9.2	6.54	8.69	8.55	9.51	9.35	7.49	6.47	6.65
EV/Free Cash Flow to Firm	9.13	8.1	15.12	13.9	11.25	8.22	9.2	6.54	8.69	8.55	9.51	9.35	7.49	6.47	6.65
Diluted Market Cap	7,029	7,268	11,059	11,004	8,420	7,226	9,430	6,221	7,720	7,838	9,192	8,133	8,390	7,140	9,891
Diluted Enterprise Value	8,064	7,683	11,414	11,621	10,470	9,085	11,182	7,715	9,071	10,490	12,184	11,641	11,023	9,563	11,807
EV per Share	32.12	31.73	49.37	50.8	46.67	42.32	52.9	36.87	43.88	43.9	50.82	49.33	47.25	42.84	54.96
TTM Sales	7,115	7,183	7,437	8,305	8,023	9,071	9,799	10,530	10,168	10,165	11,803	12,635	14,198	14,086	14,316
TTM EBITDA	1,081	1,042	1,155	1,294	1,209	1,365	1,480	1,621	1,742	1,186	1,488	1,561	1,742	1,219	1,255
TTM Operating Income	789	820	912	1,054	1,015	1,111	1,216	1,288	1,230	925	1,099	1,083	1,263	1,303	1,323
TTM Cash Flow to Firm	764	906	744	827	910	1,093	1,212	1,175	1,043	1,227	1,282	1,236	1,449	1,449	1,711
TTM Free Cash Flow to Firm	764	906	744	827	910	1,093	1,212	1,175	1,043	1,227	1,282	1,236	1,449	1,449	1,711

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	9.93	8.27	15.39	13.72	9.7	6.98	7.99	5.52	7.66	6.62	7.6	6.89	6.01	5.17	6
EV/EBIT	8.74	9.74	13.16	11.94	11.52	9.23	10.4	6.45	6.95	16.97	13.33	11.45	9.36	17.16	21.23
Enterprise Value	6,971	7,335	11,253	11,502	10,236	8,983	11,151	7,677	9,057	10,490	12,184	11,549	10,858	9,368	11,380
Low Price	24.43	25.9	30.55	43.84	32.89	23.71	31.91	28.55	25.86	16.13	32.38	26.78	31.99	29.99	24
EV/Sales	0.98	1.02	1.51	1.38	1.28	0.99	1.14	0.73	0.89	1.03	1.03	0.91	0.76	0.67	0.79
EV/EBITDA	6.45	7.04	9.75	8.89	8.47	6.58	7.53	4.74	5.2	8.84	8.19	7.4	6.23	7.69	9.07
Price/Earnings	10.39	13.31	17.46	16.6	14.18	11.97	21.32	6.64	10.33	15.68	17.12	8.52	13.33	21	35.34
Price/Earnings Average	11.57	13.82	13.94	17.58	16.85	10.44	18.38	8.85	9.24	14.32	17.61	8.18	14.65	22.16	27.97
Price/Earnings High	13.26	16.61	17.46	19.79	20.51	12.87	22.58	11.04	10.88	17.87	20.8	10.5	18.57	24.97	35.65
Price/Earnings Low	9.28	11.52	11.15	15.14	12.5	8.46	15.26	6.38	7.16	7.71	14.46	6.64	11.92	19.83	18.56
Price/Book Value	2.49	2.24	3.06	3.01	2.3	2.21	2.53	1.46	1.64	1.22	1.32	1.11	1.41	1.26	1.74
Price/Book Value Average	2.77	2.33	2.44	3.19	2.74	1.93	2.18	1.95	1.47	1.11	1.36	1.07	1.55	1.32	1.38
Price/Book Value High	3.17	2.8	3.06	3.59	3.33	2.38	2.68	2.43	1.73	1.39	1.61	1.37	1.97	1.49	1.75
Price/Book Value Low	2.22	1.94	1.96	2.75	2.03	1.56	1.81	1.41	1.13	0.6	1.12	0.87	1.26	1.19	0.91
Price/Tangible Book Value	6.19	4.08	4.97	4.82	6.54	6.77	7	3.2	3.13	2.9	3.57	2.22	3.65	2.57	3.16
Price/Tangible Book Value Average	6.9	4.24	3.97	5.1	7.76	5.9	6.04	4.26	2.8	2.65	3.67	2.13	4.02	2.71	2.5
Price/Tangible Book Value High	7.91	5.09	4.97	5.74	9.46	7.27	7.42	5.32	3.3	3.3	4.33	2.73	5.09	3.06	3.19
Price/Tangible Book Value Low	5.53	3.53	3.17	4.39	5.76	4.78	5.01	3.07	2.17	1.42	3.01	1.73	3.27	2.43	1.66
Price/Sales	0.83	0.94	1.47	1.31	1.02	0.79	0.96	0.59	0.76	0.77	0.78	0.64	0.59	0.5	0.68
Price/Sales Average	0.93	0.97	1.17	1.39	1.21	0.69	0.83	0.78	0.68	0.7	0.8	0.61	0.65	0.53	0.54
Price/Sales High	1.07	1.17	1.47	1.56	1.48	0.84	1.01	0.98	0.8	0.88	0.95	0.78	0.82	0.6	0.69
Price/Sales Low	0.75	0.81	0.94	1.2	0.9	0.55	0.69	0.56	0.53	0.38	0.66	0.5	0.52	0.48	0.36
Price/Cash Flow	8.38	7.68	15.16	13.58	9.43	6.88	7.95	5.49	7.64	6.62	7.6	6.81	5.96	5.14	5.94
Price/Cash Flow Average	9.34	7.97	12.1	14.38	11.2	6	6.86	7.32	6.84	6.05	7.82	6.54	6.56	5.42	4.7
Price/Cash Flow High	10.7	9.58	15.16	16.18	13.64	7.39	8.42	9.13	8.05	7.55	9.23	8.4	8.31	6.11	5.99
Price/Cash Flow Low	7.49	6.64	9.69	12.38	8.31	4.86	5.69	5.28	5.3	3.25	6.42	5.31	5.33	4.85	3.12
Price/Free Cash Flow Average	11.06	8.58	12.28	14.54	11.52	6.09	6.89	7.36	6.85	6.05	7.82	6.62	6.6	5.45	4.75
Price/Free Cash Flow High	12.67	10.32	15.39	16.36	14.03	7.5	8.47	9.19	8.07	7.55	9.23	8.5	8.36	6.14	6.05
Price/Free Cash Flow Low	8.87	7.15	9.83	12.52	8.55	4.93	5.72	5.31	5.31	3.25	6.42	5.37	5.37	4.88	3.15
EV/Sales Average	1.08	1.06	1.22	1.46	1.47	0.89	1.01	0.92	0.81	0.97	1.05	0.89	0.82	0.69	0.66
EV/Sales High	1.21	1.26	1.51	1.64	1.73	1.05	1.19	1.12	0.93	1.14	1.2	1.06	0.99	0.76	0.8
EV/Sales Low	0.89	0.89	0.98	1.27	1.15	0.76	0.87	0.71	0.66	0.64	0.91	0.77	0.7	0.64	0.48
EV/EBITDA Average	7.08	7.29	7.84	9.39	9.74	5.92	6.66	6	4.73	8.27	8.37	7.19	6.7	8	7.49
EV/EBITDA High	7.97	8.69	9.75	10.5	11.49	6.97	7.91	7.26	5.44	9.77	9.52	8.6	8.09	8.76	9.13
EV/EBITDA Low	5.86	6.15	6.34	8.15	7.67	5.05	5.73	4.59	3.84	5.49	7.23	6.26	5.73	7.37	5.49
EV/EBIT Average	9.59	10.09	10.59	12.6	13.25	8.3	9.2	8.18	6.33	15.88	13.62	11.13	10.06	17.86	17.55
EV/EBIT High	10.8	12.02	13.16	14.11	15.64	9.78	10.92	9.9	7.27	18.75	15.49	13.3	12.15	19.56	21.39
EV/EBIT Low	7.95	8.5	8.56	10.94	10.43	7.08	7.91	6.25	5.13	10.53	11.77	9.69	8.61	16.45	12.85
Last Price	27.35	29.94	47.81	48.07	37.32	33.56	44.58	29.69	37.33	32.8	38.34	34.35	35.79	31.76	45.71
High Price	34.92	37.35	47.81	57.31	53.99	36.07	47.23	49.38	39.33	37.39	46.58	42.35	49.85	37.77	46.11
Enterprise Value Average	7,650	7,597	9,056	12,147	11,774	8,073	9,857	9,732	8,247	9,813	12,450	11,228	11,674	9,753	9,404
Enterprise Value High	8,612	9,049	11,253	13,593	13,891	9,517	11,709	11,776	9,470	11,586	14,161	13,423	14,089	10,681	11,463
Enterprise Value Low	6,337	6,401	7,318	10,544	9,264	6,891	8,480	7,438	6,689	6,506	10,755	9,777	9,985	8,981	6,886

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	217	231	228	226	219	212	211	208	206	239	240	234	230	219	207
Diluted Weighted Avg Shares	257	243	231	229	226	215	211	209	207	239	240	237	234	225	216
Basic Weighted Avg Shares	217	225	228	226	219	212	210	208	206	239	240	234	233	223	214
Revenue per Share	32.78	31.88	32.63	36.68	36.58	42.73	46.57	50.58	49.26	42.54	49.22	53.97	60.99	63.02	66.83
EBITDA per Share	4.98	4.62	5.07	5.72	5.51	6.43	7.03	7.79	8.44	4.96	6.21	6.67	7.48	5.45	5.86
Operating Income per Share	3.64	3.64	4	4.66	4.63	5.23	5.78	6.19	5.96	3.87	4.58	4.63	5.43	5.83	6.18
Basic EPS, GAAP	2.63	2.25	2.74	2.9	2.63	2.8	2.09	4.47	3.61	2.09	2.24	4.03	2.68	1.51	1.29
Basic EPS from Cont Ops	2.63	2.32	2.86	3.04	2.8	3	2.3	4.73	3.86	2.37	1.86	3.07	3.02	1.91	1.56
Diluted EPS, GAAP	2.22	2.09	2.7	2.87	2.56	2.76	2.08	4.44	3.61	2.09	2.24	3.99	2.67	1.5	1.28
Diluted EPS from Cont Ops	2.22	2.15	2.81	3	2.72	2.96	2.28	4.7	3.85	2.37	1.86	3.03	2.99	1.9	1.55
Dividend per Share	- -	- -	0.25	0.51	0.53	0.53	0.59	0.68	0.68	0.61	0.68	0.69	0.56	0.44	0.56
Cash Flow per Share	3.26	3.9	3.15	3.54	3.96	4.88	5.61	5.41	4.88	4.96	5.05	5.04	6	6.18	7.69
Free Cash Flow per Basic Share	3.26	3.9	3.15	3.54	3.96	4.88	5.61	5.41	4.88	4.96	5.05	5.04	6	6.18	7.69
Cash & Equivalents per Share	1.66	3.1	4.12	3.52	2.63	2.09	2.59	3.55	4.03	6.91	7.69	4.63	6.68	9.58	11.17
Book Value per Share	11	13.34	15.62	15.97	16.2	15.16	17.63	20.3	22.8	26.9	28.98	30.86	25.36	25.3	26.28
Tangible Book Value per Share	4.42	7.33	9.63	9.98	5.71	4.96	6.37	9.29	11.93	11.32	10.75	15.49	9.8	12.35	14.45