Cognizant Technology Solutions Corporation Financial Ratios — COZ

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 (%)	23.45	23.87	22.36	20.74	19.09	15.53	14.06	19.02	16.41	12.74	18.72	18.85	16.65	16.21	15.16
Return on Assets (%)	17.51	17.48	16.77	14.67	13.24	11.37	10.2	13.53	11.49	8.4	12.29	12.83	11.7	11.65	10.97
Return on Capital (%)	23.45	23.87	22.36	18.58	16.43	14.12	13.11	17.89	14.97	11.13	16.35	16.77	15.2	14.99	14.06
Return on Invested Capital (%)	22.78	23.4	22.22	18.19	16.15	13.64	12.16	17.68	14.64	11.07	16.27	16.26	14.32	14.36	13.47
Gross Margin (%)	42.19	41.76	40.46	40.16	40.08	39.88	38.2	38.99	36.64	35.92	37.3	35.93	34.56	34.34	33.72
EBITDA Margin (%)	20.59	20.66	21.01	20.39	19.91	19.78	19.74	20.46	17.75	16.05	18.37	18.21	16.76	17.4	18.66
Operating Margin (%)	18.57	18.53	18.97	18.37	17.25	16.97	17.24	17.49	15.91	13.99	15.27	15.28	15.08	15.33	15.76
Incremental Operating Margin (%)	17.96	18.36	21.14	14.59	11.94	13.73	19.95	20.3	- -	260.31	26.79	15.42	66.67	28.2	21.94
Pretax Margin (%)	19.1	18.89	19.09	18.75	17.43	17.48	17.93	17.35	15.15	12.59	15.28	15.52	14.4	14.89	16.48
Profit Margin (%)	14.44	14.31	13.89	14.02	13.08	11.51	10.16	13.03	10.98	8.36	11.55	11.79	10.99	11.35	10.56
Net Income to Common Margin (%)	14.44	14.31	13.89	14.02	13.08	11.51	10.16	13.03	10.98	8.36	11.55	11.79	10.99	11.35	10.56
Effective Tax Rate (%)	24.42	24.24	27.21	25.21	24.95	34.15	43.43	24.96	25.29	33.59	24.51	24.2	23.97	24.27	36.16
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	17.62	22.28	24.59	34.48	23.82	24.63	27.8	26.79	27.35
Sustainable Growth Rate (%)	23.45	23.87	22.36	20.74	19.09	15.53	11.58	14.78	12.38	8.34	14.26	14.21	12.02	11.87	11.01

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	- -	- -	- -	1,638	1,283	878	873	745	1,685	1,758	1,642	1,534	1,315	1,480	1,152
ST Debt	- -	- -	- -	700	406	81	175	9	240	249	233	182	186	185	186
LT Debt	- -	- -	- -	938	877	797	698	736	1,445	1,509	1,409	1,352	1,129	1,295	966
Total Debt/EBITDA	- -	- -	- -	0.78	0.52	0.33	0.3	0.23	0.57	0.66	0.48	0.43	0.41	0.43	0.29
Net Debt/EBITDA	-1.04	-1.03	-1.19	-0.18	-0.34	-0.43	-0.36	-0.13	-0.64	-0.74	-0.33	-0.44	-0.61	-0.39	-0.34
Total Debt/EBIT	- -	- -	- -	0.87	0.6	0.38	0.35	0.27	0.69	0.83	0.58	0.52	0.49	0.51	0.34
Net Debt/EBIT	-1.15	-1.15	-1.32	-0.2	-0.39	-0.51	-0.42	-0.15	-0.78	-0.94	-0.4	-0.52	-0.74	-0.46	-0.39
EBITDA to Interest Expense	- -	- -	- -	697.67	137.33	140.42	127.13	122.19	114.58	111.38	377.78	186.16	79.12	63.59	106.46
EBITDA-CapEx/Interest Expense	- -	- -	- -	627	122.17	124.63	114.78	108.22	99.5	94.79	346.78	168.68	71.39	58.09	98.68
EBIT to Interest Expense	- -	- -	- -	628.33	119	120.47	111	104.44	102.69	97.04	314	156.21	71.17	56.04	89.92
Interest Expense	- -	- -	- -	3	18	19	23	27	26	24	9	19	41	54	37
Common Equity/Total Assets	71.77	74.44	75.43	67.43	71.04	75.22	70.09	72.09	68.02	64.03	67.17	68.95	71.56	72.16	72.56
Long-Term Debt/Equity (%)	- -	- -	- -	12.11	9.45	7.43	6.54	6.44	13.11	13.93	11.75	10.98	8.54	8.99	6.43
Long-Term Debt/Capital (%)	- -	- -	- -	10	8.3	6.87	6.05	6.05	11.37	11.98	10.34	9.77	7.76	8.15	5.98
Long-Term Debt/Total Assets (%)	- -	- -	- -	8.17	6.71	5.59	4.59	4.64	8.92	8.92	7.89	7.57	6.11	6.49	4.67
Total Debt/Equity (%)	- -	- -	- -	21.16	13.83	8.18	8.18	6.52	15.29	16.22	13.69	12.46	9.94	10.27	7.67
Total Debt/Capital (%)	- -	- -	- -	17.46	12.15	7.57	7.56	6.12	13.26	13.96	12.04	11.08	9.04	9.32	7.13
Total Debt/Total Assets (%)	- -	- -	- -	14.27	9.82	6.16	5.74	4.7	10.4	10.39	9.2	8.59	7.11	7.41	5.57
Net Debt to Equity	-33.16	-32.34	-36.07	-4.81	-9.08	-10.78	-9.86	-3.64	-17.3	-18.26	-9.41	-12.55	-14.98	-9.18	-8.82
Net Debt/Capital (%)	-49.62	-47.81	-56.41	-5.06	-9.98	-12.08	-10.94	-3.78	-18.95	-19.96	-9.53	-13.26	-16.63	-9.69	-9.29
EBITDA	1,261	1,518	1,858	2,093	2,472	2,668	2,924	3,299	2,979	2,673	3,400	3,537	3,244	3,434	3,939
EBITDA-CapEx	972	1,184	1,596	1,881	2,199	2,368	2,640	2,922	2,587	2,275	3,121	3,205	2,927	3,137	3,651
Operating Income (Loss)	1,136	1,361	1,678	1,885	2,142	2,289	2,553	2,820	2,670	2,329	2,826	2,968	2,918	3,026	3,327

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	2.01	2.08	2.11	1.46	1.82	2.14	1.78	1.66	1.15	0.77	0.77	0.75	0.79	0.63	0.52
Current Ratio	3.38	3.5	3.46	2.48	2.91	3.56	3.21	3.18	2.55	1.94	2.08	2.17	2.25	2.09	2.14
Quick Ratio	3.1	3.19	3.17	2.34	2.79	3.34	2.92	2.84	2.24	1.64	1.78	1.88	1.95	1.76	1.74
CFO/Avg Current Liab	0.82	0.91	0.9	0.67	0.82	0.64	0.92	0.93	0.88	1.01	0.71	0.75	0.7	0.61	0.8
Common Equity/Total Assets	71.77	74.44	75.43	67.43	71.04	75.22	70.09	72.09	68.02	64.03	67.17	68.95	71.56	72.16	72.56
Long-Term Debt/Equity (%)	- -	- -	- -	12.11	9.45	7.43	6.54	6.44	13.11	13.93	11.75	10.98	8.54	8.99	6.43
Long-Term Debt/Capital (%)	- -	- -	- -	10	8.3	6.87	6.05	6.05	11.37	11.98	10.34	9.77	7.76	8.15	5.98
Long-Term Debt/Total Assets (%)	- -	- -	- -	8.17	6.71	5.59	4.59	4.64	8.92	8.92	7.89	7.57	6.11	6.49	4.67
Total Debt/Equity (%)	- -	- -	- -	21.16	13.83	8.18	8.18	6.52	15.29	16.22	13.69	12.46	9.94	10.27	7.67
Total Debt/Capital (%)	- -	- -	- -	17.46	12.15	7.57	7.56	6.12	13.26	13.96	12.04	11.08	9.04	9.32	7.13
Total Debt/Total Assets (%)	- -	- -	- -	14.27	9.82	6.16	5.74	4.7	10.4	10.39	9.2	8.59	7.11	7.41	5.57
CFO/Total Liabilities	56.28	70.33	71.23	39.4	57.81	46.55	52.88	58.62	48.22	54.2	42.57	46.33	44.33	38.22	50.78
CFO/CapEx	3.04	3.51	5.44	6.95	8.01	5.48	8.48	6.88	6.38	8.29	8.94	7.73	7.35	7.15	10.01
Altman's Z-Score	11.07	11.55	12.75	9.13	9.82	9.82	9.52	9.27	8.13	8.23	9.28	7.84	8.96	9.04	9.1

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	5.58	5.82	5.91	5.67	5.88	5.61	5.46	5.33	5.21	5.25	5.57	5.28	5.06	4.99	4.97
Days Sales Outstanding	65.39	62.72	61.8	64.33	62.05	65.07	66.8	68.53	70.09	69.52	65.52	69.07	72.09	73.13	73.47
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	19,405	21,912	30,219	32,823	37,339	34,248	42,273	36,389	34,272	43,043	47,058	28,995	37,558	39,158	40,758
- Cash & Cash Equivalents	1,311	1,570	2,213	2,010	2,125	2,034	1,925	1,161	2,645	2,680	1,792	2,191	2,621	2,231	1,901
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	1,638	1,283	878	873	745	1,685	1,758	1,642	1,534	1,315	1,480	1,152
Enterprise Value	16,973	19,048	26,471	30,685	33,673	29,957	38,090	32,623	32,533	42,077	45,981	28,028	36,238	38,395	39,996
Total Capital	3,953	4,854	6,136	9,378	10,561	11,606	11,542	12,169	12,707	12,594	13,633	13,843	14,542	15,888	16,167
Total Debt/Capital (%)	- -	- -	- -	17.46	12.15	7.57	7.56	6.12	13.26	13.96	12.04	11.08	9.04	9.32	7.13
Total Debt / EV	- -	- -	- -	0.05	0.04	0.03	0.02	0.02	0.05	0.04	0.04	0.05	0.04	0.04	0.03
EV/Sales	2.77	2.59	2.99	2.99	2.71	2.22	2.57	2.02	1.94	2.53	2.48	1.44	1.87	1.95	1.89
EV/EBITDA	13.46	12.55	14.25	14.66	13.62	11.23	13.03	9.89	10.92	15.74	13.52	7.92	11.17	11.18	10.15
EV/EBIT	14.93	13.99	15.78	16.28	15.72	13.09	15.35	11.65	13.26	19.9	16.27	9.44	13.48	13.28	11.8
EV/Cash Flow to Firm	19.39	16.24	18.59	20.8	15.3	18.07	15.74	12.49	12.92	12.69	18.38	10.85	15.35	17.74	13.76
EV/Free Cash Flow to Firm	28.92	22.73	22.78	24.29	17.47	22.07	17.83	14.59	15.3	14.43	20.69	12.45	17.73	20.56	15.27
Diluted Market Cap	19,869	22,216	30,315	32,989	37,603	34,361	42,777	36,830	35,023	43,936	47,327	29,565	38,085	39,316	41,609
Diluted Enterprise Value	17,437	19,352	26,567	30,852	33,937	30,070	38,594	33,064	33,284	42,970	46,250	28,598	36,765	38,553	40,847
EV per Share	28	31.57	43.56	50.35	55.29	49.27	64.78	56.54	59.37	79.39	87.58	55.07	72.77	77.57	83.5
TTM Sales	6,121	7,346	8,843	10,263	12,416	13,487	14,810	16,125	16,783	16,652	18,507	19,428	19,353	19,736	21,108
TTM EBITDA	1,261	1,518	1,858	2,093	2,472	2,668	2,924	3,299	2,979	2,673	3,400	3,537	3,244	3,434	3,939
TTM Operating Income	1,136	1,361	1,678	1,885	2,142	2,289	2,553	2,820	2,670	2,329	2,826	2,968	2,918	3,026	3,327
TTM Cash Flow to Firm	875	1,173	1,424	1,475	2,201	1,658	2,420	2,612	2,518	3,315	2,502	2,582	2,361	2,165	2,907
TTM Free Cash Flow to Firm	587	838	1,162	1,263	1,928	1,358	2,136	2,235	2,126	2,917	2,223	2,250	2,044	1,868	2,619

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	33.85	26.51	26.08	26.16	19.65	25.55	20.15	16.63	16.62	15.15	21.36	13.22	18.92	21.52	16.03
EV/EBIT	14.93	13.99	15.78	16.28	15.72	13.09	15.35	11.65	13.26	19.9	16.27	9.44	13.48	13.28	11.8
Enterprise Value	16,973	19,048	26,471	30,685	33,673	29,957	38,090	32,623	32,533	42,077	45,981	28,028	36,238	38,395	39,996
Low Price	27.21	27.87	30.73	43.06	51.2	49.77	51.98	62.71	57.12	42.4	67.22	52.93	56.87	64.73	65.14
EV/Sales	2.77	2.59	2.99	2.99	2.71	2.22	2.57	2.02	1.94	2.53	2.48	1.44	1.87	1.95	1.89
EV/EBITDA	13.46	12.55	14.25	14.66	13.62	11.23	13.03	9.89	10.92	15.74	13.52	7.92	11.17	11.18	10.15
Price/Earnings	21.97	20.82	24.45	22.76	23	22.02	28.35	17.47	18.98	31.51	22.1	12.89	17.91	17.52	18.62
Price/Earnings Average	24.53	19.25	19.11	20.66	23.35	22.4	26.03	21.19	19.76	24.68	18.85	16.32	15.58	16.44	16.69
Price/Earnings High	28.39	22.21	24.45	23.13	26.32	24.83	29.94	23.73	22.86	31.54	22.1	21.09	18.06	18.09	19.84
Price/Earnings Low	18.68	15.98	15.11	18.2	19.2	19.45	20.49	17.37	17.34	16.45	16.58	11.97	13.51	14.33	14.25
Price/Book Value	4.91	4.51	4.92	4.24	4.02	3.19	3.96	3.19	3.11	3.97	3.92	2.36	2.84	2.72	2.71
Price/Book Value Average	5.48	4.17	3.85	3.85	4.09	3.25	3.64	3.86	3.24	3.11	3.35	2.98	2.47	2.55	2.43
Price/Book Value High	6.34	4.82	4.92	4.31	4.61	3.6	4.19	4.33	3.75	3.98	3.92	3.86	2.86	2.81	2.89
Price/Book Value Low	4.17	3.46	3.04	3.39	3.36	2.82	2.86	3.17	2.84	2.07	2.94	2.19	2.14	2.22	2.08
Price/Tangible Book Value	5.44	4.92	5.43	7.51	6.21	4.74	6.05	5.36	5.71	9.04	9.13	5.34	6.27	6.69	6.28
Price/Tangible Book Value Average	6.08	4.55	4.25	6.81	6.31	4.82	5.56	6.5	5.94	7.08	7.79	6.76	5.45	6.27	5.63
Price/Tangible Book Value High	7.03	5.24	5.43	7.63	7.11	5.35	6.39	7.28	6.88	9.06	9.13	8.74	6.32	6.91	6.69
Price/Tangible Book Value Low	4.62	3.77	3.36	6	5.19	4.19	4.38	5.33	5.22	4.72	6.85	4.96	4.73	5.47	4.81
Price/Sales	3.17	2.98	3.4	3.19	3.01	2.54	2.88	2.28	2.08	2.63	2.55	1.52	1.97	1.99	1.97
Price/Sales Average	3.54	2.75	2.65	2.9	3.05	2.58	2.64	2.76	2.17	2.06	2.18	1.92	1.71	1.87	1.76
Price/Sales High	4.1	3.18	3.4	3.24	3.44	2.86	3.04	3.09	2.51	2.64	2.55	2.49	1.98	2.05	2.1
Price/Sales Low	2.7	2.29	2.1	2.55	2.51	2.24	2.08	2.26	1.9	1.37	1.91	1.41	1.48	1.63	1.51
Price/Cash Flow	22.19	18.66	21.09	22.24	17.08	20.79	17.71	14.16	13.99	13.29	18.93	11.49	16.35	18.47	14.4
Price/Cash Flow Average	24.77	17.26	16.49	20.19	17.34	21.15	16.26	17.17	14.56	10.41	16.14	14.55	14.22	17.33	12.91
Price/Cash Flow High	28.66	19.91	21.09	22.6	19.54	23.44	18.71	19.24	16.85	13.31	18.93	18.8	16.48	19.08	15.35
Price/Cash Flow Low	18.86	14.32	13.04	17.78	14.26	18.37	12.81	14.08	12.78	6.94	14.2	10.68	12.32	15.12	11.03
Price/Free Cash Flow Average	37.8	24.51	20.39	23.75	19.95	25.99	18.5	20.16	17.3	11.86	18.21	16.74	16.46	20.19	14.37
Price/Free Cash Flow High	43.73	28.28	26.08	26.58	22.49	28.81	21.28	22.59	20.02	15.16	21.36	21.64	19.08	22.22	17.09
Price/Free Cash Flow Low	28.77	20.34	16.12	20.91	16.41	22.57	14.57	16.53	15.18	7.91	16.02	12.29	14.27	17.61	12.27
EV/Sales Average	3.14	2.37	2.25	2.7	2.76	2.27	2.34	2.5	2.02	1.97	2.11	1.84	1.62	1.82	1.69
EV/Sales High	3.7	2.79	2.99	3.04	3.15	2.55	2.73	2.83	2.36	2.53	2.48	2.39	1.89	2.01	2.02
EV/Sales Low	2.3	1.9	1.69	2.35	2.22	1.93	1.78	2.01	1.76	1.29	1.85	1.34	1.4	1.58	1.44
EV/EBITDA Average	15.26	11.46	10.7	13.22	13.85	11.45	11.84	12.24	11.39	12.25	11.48	10.11	9.66	10.48	9.08
EV/EBITDA High	17.96	13.51	14.25	14.91	15.81	12.87	13.84	13.84	13.27	15.76	13.52	13.14	11.27	11.55	10.83
EV/EBITDA Low	11.15	9.19	8.03	11.52	11.13	9.73	9.02	9.83	9.92	8.05	10.06	7.34	8.32	9.11	7.73
EV/EBIT Average	16.93	12.78	11.84	14.67	15.99	13.35	13.96	14.41	13.84	15.49	13.82	12.04	11.66	12.44	10.56
EV/EBIT High	19.92	15.07	15.78	16.56	18.24	15	16.31	16.3	16.12	19.93	16.27	15.66	13.59	13.72	12.59
EV/EBIT Low	12.37	10.25	8.9	12.79	12.85	11.35	10.63	11.57	12.05	10.17	12.11	8.75	10.04	10.82	8.98
Last Price	32.01	36.32	49.72	53.86	61.31	56.33	71.89	63.07	62.54	81.21	89.63	56.97	75.42	79.11	85.09
High Price	41.35	38.75	49.72	54.73	70.18	63.52	75.94	85.67	75.33	81.31	89.63	93.23	76.05	81.7	90.67
Enterprise Value Average	19,235	17,400	19,872	27,660	34,247	30,554	34,633	40,363	33,937	32,746	39,044	35,747	31,348	35,980	35,773
Enterprise Value High	22,637	20,516	26,471	31,216	39,071	34,331	40,472	45,668	39,544	42,130	45,981	46,485	36,551	39,676	42,668
Enterprise Value Low	14,061	13,953	14,926	24,102	27,516	25,972	26,381	32,420	29,565	21,505	34,214	25,977	26,999	31,280	30,440

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	606	603	608	609	609	608	588	577	548	530	525	509	498	495	479
Diluted Weighted Avg Shares	621	612	610	612	613	610	595	584	560	541	528	519	505	497	489
Basic Weighted Avg Shares	607	603	604	608	609	607	593	582	559	540	527	518	505	496	488
Revenue per Share	10.09	12.19	14.64	16.88	20.38	22.22	24.97	27.71	30.02	30.84	35.12	37.51	38.32	39.79	43.25
EBITDA per Share	2.08	2.52	3.08	3.44	4.06	4.4	4.93	5.67	5.33	4.95	6.45	6.83	6.42	6.92	8.07
Operating Income per Share	1.87	2.26	2.78	3.1	3.52	3.77	4.31	4.85	4.78	4.31	5.36	5.73	5.78	6.1	6.82
Basic EPS, GAAP	1.46	1.74	2.03	2.37	2.67	2.56	2.54	3.61	3.3	2.58	4.06	4.42	4.21	4.52	4.57
Basic EPS from Cont Ops	1.46	1.74	2.03	2.37	2.67	2.56	2.54	3.61	3.3	2.58	4.06	4.42	4.21	4.52	4.57
Diluted EPS, GAAP	1.42	1.72	2.02	2.35	2.65	2.55	2.53	3.6	3.29	2.57	4.05	4.41	4.21	4.51	4.56
Diluted EPS from Cont Ops	1.42	1.72	2.02	2.35	2.65	2.55	2.53	3.6	3.29	2.57	4.05	4.41	4.21	4.51	4.56
Dividend per Share	- -	- -	- -	- -	- -	- -	0.45	0.8	0.81	0.89	0.97	1.09	1.17	1.21	1.25
Cash Flow per Share	1.44	1.95	2.36	2.42	3.59	2.71	4.06	4.45	4.47	6.11	4.73	4.96	4.61	4.28	5.91
Free Cash Flow per Basic Share	0.97	1.39	1.92	2.07	3.14	2.22	3.58	3.81	3.77	5.37	4.2	4.32	3.99	3.68	5.32
Cash & Equivalents per Share	4.01	4.75	6.17	6.19	8.13	8.5	8.6	7.82	6.25	5.14	5.18	4.91	5.29	4.53	4
Book Value per Share	6.52	8.05	10.1	12.7	15.23	17.64	18.14	19.8	20.11	20.45	22.84	24.18	26.56	29.11	31.35
Tangible Book Value per Share	5.88	7.39	9.15	7.18	9.87	11.88	11.88	11.77	10.95	8.98	9.82	10.67	12.03	11.83	13.55