Fastenal Company Financial Ratios — FAS 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 (%)	26.11	27.86	26.92	26.8	27.79	26.75	28.71	34.18	31.84	31.83	32.03	35.03	35.47	33.04	33.29
Return on Assets (%)	22.7	24.03	23.06	22.28	21.11	19.2	20.74	24.13	22.21	22.13	22.39	24.57	25.63	25.12	25.81
Return on Capital (%)	26.11	27.86	26.92	26.19	24.85	22.43	24.18	28.66	26.45	26.1	26.41	28.72	29.64	28.96	29.77
Return on Invested Capital (%)	25.82	27.34	26.33	25.54	24.21	21.99	23.79	28.13	25.98	25.71	25.96	28.29	29.33	28.65	29.4
Gross Margin (%)	51.83	51.52	51.7	50.82	50.37	49.59	49.28	48.32	47.16	45.47	46.2	46.07	45.66	45.08	45.01
EBITDA Margin (%)	22.38	23.22	23.36	23.04	23.66	22.71	22.99	22.91	22.61	23.09	23.09	23.35	23.22	22.34	22.38
Operating Margin (%)	20.77	21.49	21.41	21.07	21.38	20.07	20.06	20.11	19.82	20.22	20.25	20.82	20.81	20.01	20.19
Incremental Operating Margin (%)	29.17	26.86	20.11	18.31	30.05	- -	19.95	20.52	15.87	26.98	20.79	24.36	20.51	- -	22.26
Pretax Margin (%)	20.78	21.51	21.45	21.09	21.35	19.93	19.89	19.88	19.57	20.06	20.09	20.63	20.72	19.99	20.18
Profit Margin (%)	12.94	13.42	13.49	13.24	13.35	12.6	13.18	15.14	14.83	15.21	15.39	15.57	15.72	15.25	15.35
Net Income to Common Margin (%)	12.94	13.42	13.49	13.24	13.35	12.6	13.18	15.14	14.83	15.21	15.39	15.57	15.72	15.25	15.35
Effective Tax Rate (%)	37.76	37.62	37.12	37.25	37.49	36.76	33.73	23.82	24.22	24.15	23.41	24.52	24.11	23.71	23.96
Dvd Payout Ratio (%)	53.57	87.34	52.93	60.02	63.34	69.4	63.79	58.77	63.04	93.52	69.59	65.44	88.03	77.64	79.8
Sustainable Growth Rate (%)	12.12	3.53	12.67	10.71	10.19	8.18	10.4	14.09	11.77	2.06	9.74	12.11	4.24	7.39	6.72

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	- -	- -	- -	90	365	390	415	500	591	650	637	802	535	485	442
ST Debt	- -	- -	- -	90	62	11	3	3	100	134	151	294	156	174	131
LT Debt	- -	- -	- -	- -	303	380	412	497	490	517	486	508	379	312	311
Total Debt/EBITDA	- -	- -	- -	0.1	0.4	0.43	0.41	0.44	0.49	0.5	0.46	0.49	0.31	0.29	0.24
Net Debt/EBITDA	-0.19	-0.11	-0.08	-0.03	0.26	0.31	0.3	0.29	0.14	0.12	0.11	0.2	0.02	-0.03	-0.08
Total Debt/EBIT	- -	- -	- -	0.11	0.44	0.49	0.47	0.5	0.56	0.57	0.52	0.55	0.35	0.32	0.27
Net Debt/EBIT	-0.2	-0.12	-0.08	-0.03	0.28	0.35	0.34	0.33	0.16	0.14	0.13	0.22	0.03	-0.04	-0.09
EBITDA to Interest Expense	- -	- -	6,874.76	940.18	295.29	138.43	110.9	90.27	86.76	134.45	143.1	114	157.96	230.88	295.95
EBITDA-CapEx/Interest Expense	- -	- -	5,046.97	733.1	245.23	109.28	97.73	76.28	69.03	117.12	126.96	101.85	141.96	199.85	256.39
EBIT to Interest Expense	- -	- -	6,301.01	859.7	266.9	122.35	96.79	79.26	76.06	117.71	125.51	101.65	141.55	206.85	267.05
Interest Expense	- -	- -	- -	1	3	7	9	13	14	10	10	14	11	7	6
Common Equity/Total Assets	86.59	85.93	85.4	81.18	71.13	72.43	72.05	69.33	70.15	68.94	70.77	69.54	75.04	76.98	78.05
Long-Term Debt/Equity (%)	- -	- -	- -	- -	16.82	19.63	19.65	21.58	18.39	18.9	15.98	16.07	11.31	8.62	7.88
Long-Term Debt/Capital (%)	- -	- -	- -	- -	13.98	16.34	16.4	17.73	15.05	15.27	13.21	12.82	9.75	7.6	7.09
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	11.96	14.22	14.16	14.96	12.9	13.03	11.3	11.18	8.49	6.63	6.15
Total Debt/Equity (%)	- -	- -	- -	4.7	20.26	20.17	19.79	21.71	22.16	23.79	20.93	25.36	15.98	13.42	11.21
Total Debt/Capital (%)	- -	- -	- -	4.49	16.85	16.79	16.52	17.84	18.14	19.21	17.31	20.23	13.78	11.83	10.08
Total Debt/Total Assets (%)	- -	- -	- -	3.82	14.41	14.61	14.26	15.05	15.54	16.4	14.81	17.63	11.99	10.33	8.75
Net Debt to Equity	-8.07	-5.1	-3.3	-1.28	13.1	14.34	14.22	14.45	6.38	5.83	5.06	10.27	1.16	-1.54	-3.85
Net Debt/Capital (%)	-8.77	-5.38	-3.41	-1.3	11.58	12.55	12.45	12.63	5.52	5.08	4.47	8.7	1.06	-1.45	-3.69
EBITDA	619	728	777	860	915	900	1,009	1,137	1,206	1,304	1,388	1,630	1,706	1,685	1,835
EBITDA-CapEx	499	589	570	671	760	710	889	961	960	1,136	1,232	1,456	1,533	1,459	1,590
Operating Income (Loss)	575	673	712	787	827	795	881	999	1,057	1,142	1,217	1,454	1,529	1,510	1,656

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	0.77	0.39	0.25	0.31	0.35	0.41	0.33	0.38	0.32	0.4	0.35	0.29	0.33	0.37	0.39
Current Ratio	6.58	6.3	5.87	4.22	4.46	6.24	5.51	5.3	4.51	4.08	4.19	3.96	4.57	4.67	4.85
Quick Ratio	2.57	2.21	1.97	1.54	1.6	2.22	2.06	2.02	1.68	1.66	1.67	1.57	1.98	1.99	2.13
CFO/Avg Current Liab	1.53	2.02	1.87	1.62	1.47	1.6	1.87	1.71	1.72	1.9	1.19	1.28	1.97	1.74	1.85
Common Equity/Total Assets	86.59	85.93	85.4	81.18	71.13	72.43	72.05	69.33	70.15	68.94	70.77	69.54	75.04	76.98	78.05
Long-Term Debt/Equity (%)	- -	- -	- -	- -	16.82	19.63	19.65	21.58	18.39	18.9	15.98	16.07	11.31	8.62	7.88
Long-Term Debt/Capital (%)	- -	- -	- -	- -	13.98	16.34	16.4	17.73	15.05	15.27	13.21	12.82	9.75	7.6	7.09
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	11.96	14.22	14.16	14.96	12.9	13.03	11.3	11.18	8.49	6.63	6.15
Total Debt/Equity (%)	- -	- -	- -	4.7	20.26	20.17	19.79	21.71	22.16	23.79	20.93	25.36	15.98	13.42	11.21
Total Debt/Capital (%)	- -	- -	- -	4.49	16.85	16.79	16.52	17.84	18.14	19.21	17.31	20.23	13.78	11.83	10.08
Total Debt/Total Assets (%)	- -	- -	- -	3.82	14.41	14.61	14.26	15.05	15.54	16.4	14.81	17.63	11.99	10.33	8.75
CFO/Total Liabilities	118.82	155.12	137.29	112.5	75.26	70.66	71.93	66.18	74.29	89.47	61.27	67.92	128.6	108.47	116.82
CFO/CapEx	2.24	2.86	2.01	2.64	3.55	2.74	4.88	3.82	3.42	6.55	4.92	5.41	8.29	5.18	5.28
Altman's Z-Score	39.45	36.87	32.49	23.67	14.09	15.28	15.83	12.79	15.07	17.84	21.59	15.92	24.31	27.43	29.91

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	9.09	8.82	8.46	8.52	8.32	8.19	7.93	7.51	7.33	7.47	7.2	7.3	6.99	6.87	6.97
Days Sales Outstanding	40.15	41.39	43.15	42.84	43.89	44.59	46.04	48.6	49.82	48.84	50.69	50.02	52.19	53.12	52.39
Inventory Turnover	2.21	2.23	2.14	2.22	2.15	2.1	2.14	2.16	2.13	2.28	2.26	2.33	2.47	2.62	2.66
Days Inventory Outstanding	164.81	163.58	170.32	164.33	169.4	174.19	170.94	168.66	171.28	160.24	161.47	156.65	147.69	139.5	137.32
Accounts Payable Turnover	21.18	20.93	19.79	19.69	17.09	17.69	18.16	16.14	15.04	15.26	15.54	16.18	14.67	15.46	15.26
Accounts Payable Turnover Days	17.24	17.44	18.44	18.54	21.36	20.63	20.1	22.62	24.27	23.92	23.49	22.56	24.89	23.6	23.92
Cash Conversion Cycle	187.73	187.53	195.04	188.63	191.93	198.15	196.88	194.64	196.84	185.16	188.68	184.12	174.99	169.01	165.79
Inventory to Cash Days	-124.66	-122.18	-127.17	-121.49	-125.52	-129.6	-124.91	-120.06	-121.46	-111.4	-110.78	-106.63	-95.5	-86.39	-84.94
Inventories	646	715	784	869	913	993	1,093	1,279	1,366	1,338	1,524	1,708	1,523	1,645	1,748
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	646	715	784	869	913	993	1,093	1,279	1,366	1,338	1,524	1,708	1,523	1,645	1,748

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	13,089	13,652	14,117	14,244	12,011	13,667	15,803	14,663	21,127	28,630	37,050	27,068	36,848	41,546	47,111
- Cash & Cash Equivalents	118	80	59	114	129	113	117	167	175	246	236	230	221	256	277
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	90	365	390	415	500	591	650	637	802	535	485	442
Enterprise Value	12,944	13,572	14,058	14,219	12,247	13,944	16,101	14,996	21,543	29,035	37,450	27,640	37,162	41,775	47,276
Total Capital	1,459	1,560	1,773	2,005	2,166	2,323	2,512	2,803	3,256	3,383	3,679	3,965	3,884	4,102	4,386
Total Debt/Capital (%)	- -	- -	- -	4.49	16.85	16.79	16.52	17.84	18.14	19.21	17.31	20.23	13.78	11.83	10.08
Total Debt / EV	- -	- -	- -	0.01	0.03	0.03	0.03	0.03	0.03	0.02	0.02	0.03	0.01	0.01	0.01
EV/Sales	4.68	4.33	4.23	3.81	3.17	3.52	3.67	3.02	4.04	5.14	6.23	3.96	5.06	5.54	5.76
EV/EBITDA	20.9	18.65	18.1	16.53	13.38	15.5	15.95	13.18	17.86	22.26	26.98	16.95	21.78	24.79	25.76
EV/EBIT	22.53	20.15	19.73	18.05	14.78	17.52	18.26	15.01	20.38	25.43	30.76	19.01	24.31	27.67	28.55
EV/Cash Flow to Firm	48.21	34.25	33.78	28.44	22.18	26.61	27.23	21.93	25.25	26.18	48.17	29.04	25.79	35.44	36.35
EV/Free Cash Flow to Firm	87.2	52.63	67.05	45.8	30.85	41.69	34.16	29.55	35.5	30.85	60.31	35.53	29.31	43.86	44.8
Diluted Market Cap	13,116	13,679	14,161	14,313	12,113	13,667	15,842	14,730	21,137	28,707	37,155	27,295	36,914	41,617	47,203
Diluted Enterprise Value	12,971	13,599	14,102	14,289	12,349	13,944	16,140	15,063	21,553	29,111	37,555	27,867	37,228	41,846	47,368
EV per Share	10.96	11.44	11.84	12.01	10.57	12.06	14	13.11	18.76	25.28	32.54	24.21	32.49	36.43	41.18
TTM Sales	2,767	3,134	3,326	3,734	3,869	3,962	4,391	4,965	5,334	5,647	6,011	6,981	7,347	7,546	8,201
TTM EBITDA	619	728	777	860	915	900	1,009	1,137	1,206	1,304	1,388	1,630	1,706	1,685	1,835
TTM Operating Income	575	673	712	787	827	795	881	999	1,057	1,142	1,217	1,454	1,529	1,510	1,656
TTM Cash Flow to Firm	268	396	416	500	552	524	591	684	853	1,109	778	952	1,441	1,179	1,301
TTM Free Cash Flow to Firm	148	258	210	310	397	335	471	507	607	941	621	778	1,268	952	1,055

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	88.36	53.04	67.57	46.18	30.66	41.36	34.05	29.58	35.45	30.75	60.56	35.58	29.3	43.96	44.93
EV/EBIT	22.53	20.15	19.73	18.05	14.78	17.52	18.26	15.01	20.38	25.43	30.76	19.01	24.31	27.67	28.55
Enterprise Value	12,944	13,572	14,058	14,219	12,247	13,944	16,101	14,996	21,543	29,035	37,450	27,640	37,162	41,775	47,276
Low Price	7.25	9.49	11.03	10.09	8.66	8.85	9.93	11.72	12.46	13.85	22	22.25	23.21	30.82	20.35
EV/Sales	4.68	4.33	4.23	3.81	3.17	3.52	3.67	3.02	4.04	5.14	6.23	3.96	5.06	5.54	5.76
EV/EBITDA	20.9	18.65	18.1	16.53	13.38	15.5	15.95	13.18	17.86	22.26	26.98	16.95	21.78	24.79	25.76
Price/Earnings	36.54	32.41	31.47	28.89	23.41	27.35	27.37	19.58	26.67	33.31	40.01	25.03	31.87	36.07	37.42
Price/Earnings Average	27.9	31.67	32.08	27.92	23.12	25.35	23.32	20.8	23.44	27.81	33.1	27.55	27.5	35.23	38.08
Price/Earnings High	36.58	38.45	34.92	30.74	26.85	28.68	27.5	23.28	27.28	33.6	40.04	33.64	32.49	42.16	46.16
Price/Earnings Low	23.91	26.72	29.18	24.21	19.54	20.48	19.78	17.89	18.06	18.49	27.34	23.49	22.96	30.68	18.56
Price/Book Value	8.97	8.75	7.96	7.44	6.67	7.07	7.54	6.37	7.93	10.48	12.18	8.56	11	11.49	11.95
Price/Book Value Average	6.85	8.55	8.12	7.19	6.59	6.55	6.42	6.77	6.97	8.75	10.08	9.42	9.5	11.22	12.16
Price/Book Value High	8.98	10.38	8.84	7.92	7.65	7.42	7.57	7.57	8.11	10.57	12.19	11.5	11.22	13.43	14.73
Price/Book Value Low	5.87	7.21	7.39	6.23	5.57	5.29	5.45	5.82	5.37	5.82	8.32	8.03	7.93	9.77	5.92
Price/Tangible Book Value	8.97	8.75	7.96	7.44	6.67	7.07	7.54	6.37	7.93	10.48	12.18	8.56	11	11.49	11.95
Price/Tangible Book Value Average	6.85	8.55	8.12	7.19	6.59	6.55	6.42	6.77	6.97	8.75	10.08	9.42	9.5	11.22	12.16
Price/Tangible Book Value High	8.98	10.38	8.84	7.92	7.65	7.42	7.57	7.57	8.11	10.57	12.19	11.5	11.22	13.43	14.73
Price/Tangible Book Value Low	5.87	7.21	7.39	6.23	5.57	5.29	5.45	5.82	5.37	5.82	8.32	8.03	7.93	9.77	5.92
Price/Sales	4.73	4.35	4.24	3.82	3.12	3.45	3.61	2.96	3.95	5.07	6.16	3.9	5.01	5.5	5.74
Price/Sales Average	3.61	4.25	4.33	3.7	3.09	3.19	3.07	3.15	3.48	4.23	5.09	4.29	4.32	5.37	5.84
Price/Sales High	4.73	5.16	4.71	4.07	3.58	3.62	3.62	3.53	4.05	5.11	6.16	5.24	5.11	6.43	7.08
Price/Sales Low	3.09	3.59	3.94	3.2	2.61	2.58	2.61	2.71	2.68	2.81	4.21	3.66	3.61	4.68	2.85
Price/Cash Flow	48.72	34.39	33.92	28.58	21.97	26.27	27.06	21.83	25.03	25.97	48.05	28.92	25.69	35.37	36.34
Price/Cash Flow Average	37.19	33.61	34.59	27.63	21.7	24.35	23.05	23.2	22	21.68	39.76	31.82	22.17	34.54	36.98
Price/Cash Flow High	48.76	40.8	37.64	30.42	25.2	27.55	27.19	25.97	25.61	26.2	48.09	38.86	26.19	41.34	44.82
Price/Cash Flow Low	31.87	28.35	31.46	23.95	18.34	19.67	19.56	19.95	16.95	14.42	32.84	27.13	18.51	30.08	18.02
Price/Free Cash Flow Average	67.45	51.83	68.89	44.64	30.28	38.34	29	31.43	31.16	25.67	50.1	39.15	25.29	42.93	45.72
Price/Free Cash Flow High	88.44	62.93	74.98	49.16	35.17	43.39	34.21	35.19	36.26	31.01	60.61	47.81	29.87	51.37	55.42
Price/Free Cash Flow Low	57.8	43.73	62.66	38.7	25.59	30.98	24.61	27.03	24	17.07	41.39	33.38	21.11	37.38	22.28
EV/Sales Average	3.56	4.23	4.31	3.68	3.13	3.27	3.13	3.2	3.56	4.3	5.17	4.35	4.37	5.41	5.87
EV/Sales High	4.68	5.14	4.69	4.05	3.62	3.69	3.68	3.58	4.13	5.19	6.24	5.29	5.16	6.47	7.11
EV/Sales Low	3.04	3.57	3.92	3.19	2.65	2.65	2.67	2.77	2.76	2.89	4.28	3.72	3.66	4.71	2.87
EV/EBITDA Average	15.9	18.22	18.45	15.98	13.22	14.39	13.64	13.99	15.75	18.64	22.37	18.62	18.82	24.21	26.21
EV/EBITDA High	20.92	22.14	20.09	17.59	15.31	16.24	16.03	15.63	18.27	22.45	27	22.67	22.2	28.95	31.76
EV/EBITDA Low	13.59	15.36	16.78	13.85	11.21	11.68	11.61	12.07	12.21	12.5	18.53	15.93	15.75	21.1	12.82
EV/EBIT Average	17.14	19.68	20.11	17.45	14.6	16.27	15.61	15.92	17.96	21.29	25.51	20.88	21.01	27.02	29.05
EV/EBIT High	22.55	23.92	21.9	19.22	16.91	18.36	18.34	17.79	20.84	25.65	30.79	25.42	24.78	32.31	35.19
EV/EBIT Low	14.65	16.59	18.29	15.12	12.38	13.21	13.29	13.74	13.93	14.28	21.13	17.87	17.57	23.55	14.21
Last Price	11.08	11.51	11.89	12.04	10.37	11.82	13.74	12.82	18.4	24.93	32.19	23.71	32.21	36.23	41.04
High Price	11.09	13.65	13.2	12.81	11.89	12.39	13.8	15.25	18.82	25.15	32.22	31.86	32.84	42.35	50.61
Enterprise Value Average	9,848	13,260	14,334	13,744	12,100	12,944	13,761	15,911	18,988	24,311	31,052	30,358	32,114	40,805	48,101
Enterprise Value High	12,957	16,115	15,606	15,136	14,014	14,612	16,176	17,774	22,029	29,285	37,481	36,949	37,880	48,787	58,272
Enterprise Value Low	8,418	11,175	13,032	11,911	10,263	10,512	11,720	13,731	14,723	16,303	25,721	25,971	26,865	35,564	23,524

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	1,181	1,186	1,187	1,183	1,158	1,157	1,150	1,144	1,148	1,148	1,151	1,142	1,144	1,147	1,148
Diluted Weighted Avg Shares	1,183	1,189	1,191	1,189	1,168	1,157	1,153	1,149	1,149	1,151	1,154	1,151	1,146	1,149	1,150
Basic Weighted Avg Shares	1,180	1,184	1,187	1,186	1,166	1,156	1,153	1,148	1,146	1,148	1,150	1,148	1,143	1,145	1,148
Revenue per Share	2.34	2.65	2.8	3.15	3.32	3.43	3.81	4.33	4.65	4.92	5.23	6.08	6.43	6.59	7.15
EBITDA per Share	0.52	0.61	0.65	0.73	0.79	0.78	0.88	0.99	1.05	1.14	1.21	1.42	1.49	1.47	1.6
Operating Income per Share	0.49	0.57	0.6	0.66	0.71	0.69	0.76	0.87	0.92	0.99	1.06	1.27	1.34	1.32	1.44
Basic EPS, GAAP	0.3	0.36	0.38	0.42	0.44	0.43	0.5	0.65	0.69	0.75	0.8	0.95	1.01	1	1.1
Basic EPS from Cont Ops	0.3	0.36	0.38	0.42	0.44	0.43	0.5	0.65	0.69	0.75	0.8	0.95	1.01	1	1.1
Diluted EPS, GAAP	0.3	0.35	0.38	0.42	0.44	0.43	0.5	0.65	0.69	0.75	0.8	0.94	1.01	1	1.09
Diluted EPS from Cont Ops	0.3	0.35	0.38	0.42	0.44	0.43	0.5	0.65	0.69	0.75	0.8	0.94	1.01	1	1.09
Dividend per Share	0.16	0.31	0.2	0.25	0.28	0.3	0.32	0.38	0.43	0.7	0.56	0.62	0.89	0.78	0.88
Cash Flow per Share	0.23	0.33	0.35	0.42	0.47	0.45	0.51	0.59	0.74	0.96	0.67	0.82	1.25	1.02	1.13
Free Cash Flow per Basic Share	0.13	0.22	0.18	0.26	0.34	0.29	0.4	0.43	0.52	0.81	0.53	0.67	1.1	0.83	0.92
Cash & Equivalents per Share	0.12	0.07	0.05	0.1	0.11	0.1	0.1	0.15	0.15	0.21	0.21	0.2	0.19	0.22	0.24
Book Value per Share	1.24	1.32	1.49	1.62	1.56	1.67	1.82	2.01	2.32	2.38	2.64	2.77	2.93	3.15	3.44
Tangible Book Value per Share	1.24	1.32	1.49	1.62	1.56	1.67	1.82	2.01	2.32	2.38	2.64	2.77	2.93	3.15	3.44