Xcel Energy Inc. Financial Ratios — NRN 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 (%)	10.11	10.43	10.28	10.33	9.45	10.39	10.22	10.65	10.78	10.59	10.58	10.75	10.33	10.43	9.36
Return on Assets (%)	2.96	2.99	2.92	2.88	2.6	2.81	2.73	2.83	2.85	2.82	2.86	2.92	2.83	2.89	2.67
Return on Capital (%)	6.49	6.59	6.2	6.09	5.62	6.02	5.87	6.46	6.4	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	6.18	6.24	5.82	5.7	5.35	5.77	5.6	5.98	6.02	- -	- -	- -	- -	- -	- -
Gross Margin (%)	31.24	33.75	32.13	31.96	36.19	38.89	39.64	38.6	40.97	43.07	39.15	38.28	42.09	45.74	47.2
EBITDA Margin (%)	26.2	28.33	27	26.52	29.47	33.1	33.6	32.47	34.76	36.42	33.21	32.54	35.53	39.14	38.62
Operating Margin (%)	16.68	17.92	16.85	16.61	18.11	20.17	19.49	17.03	18.25	18.36	16.4	15.86	18.22	17.75	19.63
Incremental Operating Margin (%)	47.52	- -	3.04	13.22	- -	293.98	- -	- -	- -	- -	4.57	11.97	- -	26.41	40.15
Pretax Margin (%)	12.29	13.38	13.12	13.22	13.85	15.34	14.82	12.5	13.01	12.73	11.37	10.46	11.44	11.41	12.09
Profit Margin (%)	7.89	8.94	8.69	8.74	8.93	10.11	10.07	10.93	11.9	12.78	11.89	11.34	12.47	14.4	13.76
Net Income to Common Margin (%)	7.86	8.94	8.69	8.74	8.93	10.11	10.07	10.93	11.9	12.78	11.89	11.34	12.47	14.4	13.76
Effective Tax Rate (%)	35.76	33.21	33.79	33.9	35.56	34.1	32.07	12.55	8.53	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	56.26	53.77	54.21	54.97	61.69	60.64	62.8	57.89	57.65	58.11	58.55	58.29	61.66	60.69	63.53
Sustainable Growth Rate (%)	4.42	4.82	4.71	4.65	3.62	4.09	3.8	4.49	4.56	4.44	4.39	4.48	3.96	4.1	3.41

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	10,127	11,004	11,951	12,777	13,902	14,842	15,791	17,247	20,447	22,208	24,736	26,032	27,514	30,208	34,781
ST Debt	1,279	860	1,040	1,277	1,503	647	1,271	1,444	1,491	1,219	1,811	2,181	1,563	2,025	2,161
LT Debt	8,849	10,144	10,911	11,500	12,399	14,195	14,520	15,803	18,956	20,989	22,925	23,851	25,951	28,183	32,620
Total Debt/EBITDA	3.63	3.84	4.05	4.12	4.28	4.04	4.12	4.6	5.1	5.29	5.55	5.23	5.45	5.74	6.14
Net Debt/EBITDA	3.61	3.81	4.02	4.1	4.25	4.01	4.1	4.56	4.6	4.89	5.21	4.95	5.17	5.5	5.93
Total Debt/EBIT	5.68	6.04	6.47	6.56	6.95	6.63	7.1	8.78	9.72	10.5	11.23	10.72	11.09	12.66	13.47
Net Debt/EBIT	5.65	5.99	6.41	6.52	6.91	6.59	7.07	8.7	8.77	9.7	10.54	10.16	10.53	12.13	13.01
EBITDA to Interest Expense	5.18	5.29	5.83	6.13	5.96	6.18	6.34	5.75	5.65	5.45	5.47	5.39	5.03	4.45	4.22
EBITDA-CapEx/Interest Expense	1.09	5.29	5.83	6.13	5.96	6.18	6.34	5.75	5.65	5.45	5.47	5.39	5.03	4.45	4.22
EBIT to Interest Expense	3.3	3.35	3.64	3.84	3.66	3.76	3.68	3.01	2.96	2.75	2.7	2.62	2.58	2.02	2.14
Interest Expense	539	542	506	505	545	595	604	652	710	770	816	925	1,004	1,182	1,343
Common Equity/Total Assets	28.76	28.5	28.21	27.64	27.31	26.78	26.62	26.58	26.24	27.01	26.99	27.25	27.49	27.87	29.01
Long-Term Debt/Equity (%)	104.32	114.31	114.06	112.58	116.96	128.8	126.76	129.3	143.18	144.01	146.84	143.03	147.31	144.37	138.17
Long-Term Debt/Capital (%)	47.55	51.03	50.71	50.02	50.6	54.89	53.29	53.63	56.27	57.06	56.82	55.85	57.5	56.67	55.87
Long-Term Debt/Total Assets (%)	30	32.57	32.18	31.12	31.94	34.49	33.74	34.36	37.58	38.9	39.63	38.98	40.5	40.24	40.09
Total Debt/Equity (%)	119.4	124	124.93	125.09	131.14	134.67	137.85	141.11	154.45	152.37	158.44	156.11	156.19	154.74	147.32
Total Debt/Capital (%)	54.42	55.36	55.54	55.57	56.74	57.39	57.96	58.53	60.7	60.38	61.31	60.95	60.97	60.74	59.57
Total Debt/Total Assets (%)	34.33	35.34	35.24	34.57	35.81	36.06	36.7	37.5	40.53	41.16	42.76	42.54	42.94	43.13	42.74
Net Debt to Equity	118.68	123.07	123.81	124.31	130.34	133.9	137.13	139.91	139.41	140.8	148.73	147.92	148.28	148.22	142.36
Net Debt/Capital (%)	54.27	55.17	55.32	55.42	56.59	57.25	57.83	58.32	55.19	55.99	57.78	57.91	58.05	58.39	57.83
EBITDA	2,791	2,869	2,947	3,099	3,249	3,676	3,832	3,746	4,008	4,198	4,460	4,982	5,048	5,261	5,665
EBITDA-CapEx	586	2,869	2,947	3,099	3,249	3,676	3,832	3,746	4,008	4,198	4,460	4,982	5,048	5,261	5,665
Operating Income (Loss)	1,777	1,815	1,839	1,941	1,996	2,240	2,223	1,965	2,104	2,116	2,203	2,428	2,588	2,386	2,879

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	0.02	0.03	0.03	0.02	0.02	0.03	0.02	0.03	0.05	0.03	0.03	0.02	0.02	0.03	0.04
Current Ratio	0.83	0.89	0.88	0.83	0.68	0.88	0.73	0.69	0.68	0.77	0.84	0.85	0.72	0.67	0.71
Quick Ratio	0.42	0.5	0.42	0.4	0.36	0.49	0.4	0.4	0.39	0.41	0.41	0.43	0.41	0.35	0.35
CFO/Avg Current Liab	0.79	0.61	0.78	0.69	0.75	0.84	0.85	0.73	0.72	0.65	0.47	0.71	0.91	0.77	0.6
Common Equity/Total Assets	28.76	28.5	28.21	27.64	27.31	26.78	26.62	26.58	26.24	27.01	26.99	27.25	27.49	27.87	29.01
Long-Term Debt/Equity (%)	104.32	114.31	114.06	112.58	116.96	128.8	126.76	129.3	143.18	144.01	146.84	143.03	147.31	144.37	138.17
Long-Term Debt/Capital (%)	47.55	51.03	50.71	50.02	50.6	54.89	53.29	53.63	56.27	57.06	56.82	55.85	57.5	56.67	55.87
Long-Term Debt/Total Assets (%)	30	32.57	32.18	31.12	31.94	34.49	33.74	34.36	37.58	38.9	39.63	38.98	40.5	40.24	40.09
Total Debt/Equity (%)	119.4	124	124.93	125.09	131.14	134.67	137.85	141.11	154.45	152.37	158.44	156.11	156.19	154.74	147.32
Total Debt/Capital (%)	54.42	55.36	55.54	55.57	56.74	57.39	57.96	58.53	60.7	60.38	61.31	60.95	60.97	60.74	59.57
Total Debt/Total Assets (%)	34.33	35.34	35.24	34.57	35.81	36.06	36.7	37.5	40.53	41.16	42.76	42.54	42.94	43.13	42.74
CFO/Total Liabilities	11.45	9	10.62	9.94	10.77	10.13	9.9	9.25	8.77	7.23	5.18	8.83	11.47	9.19	7.07
CFO/CapEx	1.09	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	0.94	1.01	0.93	0.98	1.01	0.96	1.02	1.02	1.03	1.06	0.94	0.9	0.9

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	14.48	13.77	14.93	14.88	14.21	14.8	14.5	13.93	13.59	13.15	13.89	12.81	10.57	10.48	11.38
Days Sales Outstanding	25.21	26.51	24.45	24.53	25.68	24.66	25.17	26.21	26.86	27.76	26.28	28.5	34.53	34.81	32.09
Inventory Turnover	12.43	11.63	13.32	13.55	11.67	11.19	11.34	12.23	12.47	12.16	14.02	13.18	10.87	10.59	10.85
Days Inventory Outstanding	29.37	31.38	27.4	26.94	31.28	32.61	32.18	29.83	29.28	30.01	26.04	27.69	33.59	34.46	33.63
Accounts Payable Turnover	7.85	7.12	6.71	6.55	6.6	6.76	6.02	5.66	5.37	5.18	6.25	5.99	4.69	4.2	3.84
Accounts Payable Turnover Days	46.51	51.25	54.4	55.73	55.28	53.98	60.6	64.45	67.91	70.49	58.4	60.94	77.89	86.84	95.16
Cash Conversion Cycle	8.06	6.64	-2.55	-4.26	1.68	3.29	-3.25	-8.41	-11.76	-12.72	-6.08	-4.75	-9.77	-17.57	-29.45
Inventory to Cash Days	-4.16	-4.87	-2.95	-2.41	-5.61	-7.95	-7.01	-3.62	-2.42	-2.25	0.24	0.81	0.95	0.36	-1.54
Inventories	618	536	577	597	609	604	610	548	544	535	631	803	711	666	761
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	618	536	577	597	609	604	610	548	544	535	631	803	711	666	761

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	- -	- -	13,929	18,658	18,326	20,671	24,465	25,546	33,181	35,375	37,004	39,087	34,231	39,056	45,948
- Cash & Cash Equivalents	61	82	107	80	85	85	83	147	248	129	166	111	129	179	274
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	10,127	11,004	11,951	12,777	13,902	14,842	15,791	17,247	20,447	22,208	24,736	26,032	27,514	30,208	34,781
Enterprise Value	- -	- -	25,773	31,355	32,143	35,428	40,173	42,646	53,380	57,454	61,574	65,008	61,616	69,085	80,455
Total Capital	18,610	19,878	21,516	22,991	24,503	25,863	27,246	29,469	33,686	36,783	40,348	42,707	45,130	49,730	58,390
Total Debt/Capital (%)	54.42	55.36	55.54	55.57	56.74	57.39	57.96	58.53	60.7	60.38	61.31	60.95	60.97	60.74	59.57
Total Debt / EV	- -	- -	0.46	0.41	0.43	0.42	0.39	0.4	0.38	0.39	0.4	0.4	0.45	0.44	0.43
EV/Sales	- -	- -	2.36	2.68	2.92	3.19	3.52	3.7	4.63	4.98	4.58	4.25	4.34	5.14	5.48
EV/EBITDA	- -	- -	8.74	10.12	9.89	9.64	10.48	11.38	13.32	13.69	13.81	13.05	12.21	13.13	14.2
EV/EBIT	- -	- -	13.95	16.09	16.07	15.82	18.07	21.7	25.37	27.15	27.95	26.77	24.84	28.95	31.15
EV/Cash Flow to Firm	- -	- -	8.83	10.47	9.48	10.29	11.36	11.55	13.64	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	8.83	10.47	9.48	10.29	11.36	11.55	13.64	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	13,889	18,598	18,349	20,763	24,524	25,395	32,894	34,754	36,730	38,903	34,050	38,284	43,398
Diluted Enterprise Value	- -	- -	25,732	31,295	32,165	35,520	40,232	42,495	53,093	56,833	61,300	64,824	61,435	68,313	77,905
EV per Share	- -	- -	51.76	62	63.33	69.85	79.12	82.96	101.77	106.9	113.18	118.29	111.03	120.28	129.02
TTM Sales	10,655	10,128	10,915	11,686	11,024	11,107	11,404	11,537	11,529	11,526	13,431	15,310	14,206	13,441	14,669
TTM EBITDA	2,791	2,869	2,947	3,099	3,249	3,676	3,832	3,746	4,008	4,198	4,460	4,982	5,048	5,261	5,665
TTM Operating Income	1,777	1,815	1,839	1,941	1,996	2,240	2,223	1,965	2,104	2,116	2,203	2,428	2,588	2,386	2,879
TTM Cash Flow to Firm	2,752	2,367	2,919	2,993	3,389	3,444	3,536	3,692	3,912	- -	- -	- -	- -	- -	- -
TTM Free Cash Flow to Firm	546	2,367	2,919	2,993	3,389	3,444	3,536	3,692	3,912	- -	- -	- -	- -	- -	- -

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	- -	- -	5.37	6.99	6.04	6.8	7.85	8.13	10.08	12.2	16.78	9.89	6.39	8.25	10.63
EV/EBIT	- -	- -	13.95	16.09	16.07	15.82	18.07	21.7	25.37	27.15	27.95	26.77	24.84	28.95	31.15
Enterprise Value	- -	- -	25,773	31,355	32,143	35,428	40,173	42,646	53,380	57,454	61,574	65,008	61,616	69,085	80,455
Low Price	- -	- -	27.1	27.35	31.93	35.37	40.3	41.67	47.78	49.09	57.73	58.76	55.34	48.78	63.51
EV/Sales	- -	- -	2.36	2.68	2.92	3.19	3.52	3.7	4.63	4.98	4.58	4.25	4.34	5.14	5.48
EV/EBITDA	- -	- -	8.74	10.12	9.89	9.64	10.48	11.38	13.32	13.69	13.81	13.05	12.21	13.13	14.2
Price/Earnings	- -	- -	14.63	18.2	18.63	18.46	21.36	20.14	23.93	23.55	22.96	22.41	19.23	19.77	21.43
Price/Earnings Average	- -	- -	15.05	15.38	17.92	18.47	20.6	18.92	22.26	23.84	22.41	22.09	19.82	17.29	21
Price/Earnings High	- -	- -	16.64	18.2	19.66	20.49	22.87	21.81	25.25	26.72	24.39	24.44	22.73	21.22	23.74
Price/Earnings Low	- -	- -	14.18	13.5	16.47	16.02	17.87	16.89	18.07	17.56	19.48	18.51	17.25	14.19	18.47
Price/Book Value	- -	- -	1.46	1.83	1.73	1.88	2.14	2.09	2.51	2.43	2.37	2.34	1.94	2	1.95
Price/Book Value Average	- -	- -	1.5	1.54	1.66	1.88	2.06	1.96	2.33	2.46	2.31	2.31	2	1.75	1.91
Price/Book Value High	- -	- -	1.66	1.83	1.82	2.08	2.29	2.26	2.64	2.75	2.52	2.56	2.3	2.15	2.16
Price/Book Value Low	- -	- -	1.41	1.35	1.53	1.63	1.79	1.75	1.89	1.81	2.01	1.94	1.74	1.44	1.68
Price/Tangible Book Value	- -	- -	1.46	1.83	1.73	1.88	2.14	2.09	2.51	2.43	2.37	2.34	1.94	2	1.95
Price/Tangible Book Value Average	- -	- -	1.5	1.54	1.66	1.88	2.06	1.96	2.33	2.46	2.31	2.31	2	1.75	1.91
Price/Tangible Book Value High	- -	- -	1.66	1.83	1.82	2.08	2.29	2.26	2.64	2.75	2.52	2.56	2.3	2.15	2.16
Price/Tangible Book Value Low	- -	- -	1.41	1.35	1.53	1.63	1.79	1.75	1.89	1.81	2.01	1.94	1.74	1.44	1.68
Price/Sales	- -	- -	1.27	1.59	1.66	1.87	2.15	2.2	2.85	3.01	2.73	2.54	2.4	2.85	2.95
Price/Sales Average	- -	- -	1.31	1.34	1.6	1.87	2.07	2.07	2.65	3.05	2.66	2.5	2.47	2.49	2.89
Price/Sales High	- -	- -	1.45	1.59	1.76	2.07	2.3	2.38	3	3.41	2.9	2.77	2.83	3.06	3.27
Price/Sales Low	- -	- -	1.23	1.18	1.47	1.62	1.8	1.85	2.15	2.24	2.32	2.1	2.15	2.04	2.54
Price/Cash Flow	- -	- -	5.37	6.99	6.03	6.79	7.85	8.13	10.06	12.18	16.75	9.89	6.39	8.25	10.59
Price/Cash Flow Average	- -	- -	5.52	5.91	5.81	6.8	7.56	7.64	9.36	12.33	16.35	9.75	6.59	7.21	10.38
Price/Cash Flow High	- -	- -	6.11	6.99	6.37	7.54	8.4	8.81	10.62	13.82	17.8	10.79	7.56	8.85	11.73
Price/Cash Flow Low	- -	- -	5.2	5.18	5.34	5.9	6.56	6.82	7.6	9.08	14.22	8.17	5.73	5.92	9.13
Price/Free Cash Flow Average	- -	- -	5.53	5.91	5.81	6.81	7.56	7.64	9.38	12.35	16.38	9.75	6.59	7.21	10.41
Price/Free Cash Flow High	- -	- -	6.11	6.99	6.37	7.55	8.4	8.81	10.64	13.85	17.83	10.79	7.56	8.85	11.77
Price/Free Cash Flow Low	- -	- -	5.21	5.19	5.34	5.9	6.56	6.82	7.61	9.1	14.24	8.17	5.73	5.92	9.16
EV/Sales Average	- -	- -	2.4	2.44	2.85	3.19	3.45	3.56	4.43	5.02	4.52	4.21	4.41	4.78	5.42
EV/Sales High	- -	- -	2.54	2.68	3.01	3.39	3.67	3.88	4.79	5.4	4.76	4.48	4.78	5.35	5.82
EV/Sales Low	- -	- -	2.32	2.27	2.72	2.94	3.17	3.34	3.93	4.2	4.17	3.8	4.09	4.32	5.05
EV/EBITDA Average	- -	- -	8.88	9.18	9.68	9.64	10.26	10.97	12.74	13.79	13.61	12.94	12.41	12.2	14.04
EV/EBITDA High	- -	- -	9.39	10.12	10.21	10.26	10.93	11.95	13.77	14.82	14.32	13.76	13.44	13.67	15.07
EV/EBITDA Low	- -	- -	8.6	8.56	9.24	8.89	9.44	10.28	11.29	11.54	12.55	11.68	11.51	11.03	13.08
EV/EBIT Average	- -	- -	14.17	14.61	15.72	15.82	17.68	20.92	24.27	27.36	27.55	26.55	25.26	26.9	30.79
EV/EBIT High	- -	- -	14.98	16.09	16.58	16.83	18.85	22.78	26.24	29.4	29	28.23	27.35	30.15	33.06
EV/EBIT Low	- -	- -	13.72	13.62	15.01	14.6	16.27	19.6	21.51	22.9	25.41	23.98	23.42	24.33	28.69
Last Price	- -	- -	27.97	36.89	36.11	40.75	48.18	49.7	63.26	65.82	68.02	71.12	61.68	68	73.68
High Price	- -	- -	31.81	36.89	38.1	45.23	51.59	53.83	66.74	74.68	72.27	77.55	72.93	72.97	81.6
Enterprise Value Average	- -	- -	26,172	28,462	31,447	35,438	39,298	41,102	51,067	57,889	60,688	64,453	62,667	64,185	79,520
Enterprise Value High	- -	- -	27,684	31,355	33,156	37,701	41,902	44,769	55,207	62,216	63,888	68,542	67,858	71,940	85,392
Enterprise Value Low	- -	- -	25,341	26,532	30,020	32,696	36,170	38,520	45,260	48,461	55,977	58,214	58,094	58,049	74,111

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	486	488	498	506	508	507	508	514	525	537	544	550	555	574	624
Diluted Weighted Avg Shares	486	488	497	504	508	509	509	511	520	528	540	547	552	563	589
Basic Weighted Avg Shares	485	488	496	504	508	509	509	511	519	527	539	547	552	563	587
Revenue per Share	21.97	20.76	22	23.19	21.71	21.83	22.4	22.58	22.21	21.87	24.92	27.99	25.74	23.87	24.99
EBITDA per Share	5.75	5.88	5.94	6.15	6.4	7.22	7.53	7.33	7.72	7.97	8.27	9.11	9.14	9.34	9.65
Operating Income per Share	3.66	3.72	3.71	3.85	3.93	4.4	4.37	3.85	4.05	4.02	4.09	4.44	4.69	4.24	4.9
Basic EPS, GAAP	1.73	1.86	1.91	2.03	1.94	2.21	2.26	2.47	2.64	2.8	2.96	3.17	3.21	3.44	3.44
Basic EPS from Cont Ops	1.73	1.86	1.91	2.03	1.94	2.21	2.26	2.47	2.64	2.8	2.96	3.17	3.21	3.44	3.44
Diluted EPS, GAAP	1.72	1.85	1.91	2.03	1.94	2.2	2.26	2.47	2.64	2.79	2.96	3.17	3.21	3.44	3.43
Diluted EPS from Cont Ops	1.73	1.85	1.91	2.03	1.94	2.2	2.26	2.47	2.64	2.79	2.96	3.17	3.21	3.44	3.43
Dividend per Share	0.98	1	1.04	1.11	1.2	1.34	1.42	1.43	1.52	1.62	1.73	1.85	1.98	2.09	2.18
Cash Flow per Share	4.96	4.11	5.21	5.28	5.98	6	6.14	6.11	6.29	5.4	4.06	7.19	9.65	8.24	6.96
Free Cash Flow per Basic Share	0.41	4.11	5.21	5.28	5.98	6	6.14	6.11	6.29	5.4	4.06	7.19	9.65	8.24	6.96
Cash & Equivalents per Share	0.12	0.17	0.22	0.16	0.17	0.17	0.16	0.29	0.47	0.24	0.31	0.2	0.23	0.31	0.44
Book Value per Share	17.44	18.19	19.21	20.2	20.89	21.73	22.56	23.78	25.24	27.12	28.7	30.34	31.74	33.99	37.86
Tangible Book Value per Share	17.44	18.19	19.21	20.2	20.89	21.73	22.56	23.78	25.24	27.12	28.7	30.34	31.74	33.99	37.86