Public Storage Financial Ratios — PUP 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 (%)	10.77	12.89	16.18	17.56	20.59	23.4	23.62	29.87	25.32	22.57	34.75	75.83	34.31	34.05	30.99
Return on Assets (%)	8.94	10.6	11.27	11.62	13.38	14.6	13.83	15.8	13.64	11.71	13.38	24.9	11.5	10.47	8.93
Return on Capital (%)	9.28	11.04	11.55	11.91	13.68	15	14.32	16.58	14.5	12.75	14.54	26.33	12.89	12.23	- -
Return on Invested Capital (%)	8.47	10.07	10.42	10.98	12.91	14.21	14.07	13.5	13.62	12.77	12.01	25.08	12.59	11.37	- -
Gross Margin (%)	67.71	69.83	71.51	71.83	73.32	73.87	73.47	72.56	71.52	70.24	73.05	74.82	74.59	73.21	72.85
EBITDA Margin (%)	64.6	66.76	68.12	68.55	69.61	70.6	70.36	68.77	69.34	67.39	70.45	123.33	72.22	70.61	70.23
Operating Margin (%)	44.07	47.33	48.4	48.47	51.73	53.68	53.33	51.24	51.38	48.41	49.94	51.87	51.33	46.88	46.86
Incremental Operating Margin (%)	58.44	100.34	64.62	49.11	86.4	79.67	45.05	- -	55.25	- -	58.85	60.5	44.59	- -	46.16
Pretax Margin (%)	48	50.48	53.82	52.81	55.33	57.03	54.28	62.23	53.44	46.7	57.73	104.74	48.05	44.49	37.1
Profit Margin (%)	47.46	50.98	53.56	52.55	55.06	56.77	54.05	62	53.26	46.56	57.18	103.99	47.55	44.13	36.99
Net Income to Common Margin (%)	32.45	36.49	43.16	41.87	44.39	46.42	44.08	54.17	44.75	37.8	50.87	99.34	43.24	39.98	32.95
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.63	0.33	0.5	0.22	- -
Dvd Payout Ratio (%)	100.08	103.78	103.36	104.86	104.38	103.2	114.77	92.65	106.05	121.73	78.46	88.66	106.75	110.78	130.57
Sustainable Growth Rate (%)	-0.01	-0.49	-0.54	-0.85	-0.9	-0.75	-3.49	2.19	-1.53	-4.9	7.49	8.6	-2.32	-3.67	-9.47

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	398	469	839	64	319	391	1,431	1,412	1,902	2,545	7,475	6,871	9,103	9,353	10,254
ST Debt	- -	133	50	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	398	336	789	64	319	391	1,431	1,412	1,902	2,545	7,475	6,871	9,103	9,353	10,254
Total Debt/EBITDA	0.36	0.38	0.63	0.04	0.19	0.22	0.76	0.74	0.96	1.3	3.11	1.33	2.79	2.82	3.03
Net Debt/EBITDA	0.23	0.37	0.61	-0.08	0.13	0.11	0.53	0.55	0.75	1.16	2.8	1.18	2.68	2.69	2.93
Total Debt/EBIT	0.52	0.54	0.88	0.06	0.26	0.28	1.01	1	1.3	1.8	4.42	1.61	3.97	4.28	4.59
Net Debt/EBIT	0.34	0.52	0.86	-0.12	0.17	0.15	0.7	0.74	1.02	1.62	3.98	1.43	3.81	4.07	4.44
EBITDA to Interest Expense	46.29	62.08	207.71	219.49	2,763.36	420.42	147.96	58.32	43.38	34.9	26.51	37.84	16.22	11.54	11.13
EBITDA-CapEx/Interest Expense	45.5	61.55	193.67	198.67	2,382.57	357.65	121.29	47.91	43.38	34.9	26.51	37.84	16.22	11.54	11.13
EBIT to Interest Expense	31.58	44.01	147.59	155.21	2,053.35	319.65	112.15	43.45	32.14	25.07	18.79	15.91	11.53	7.66	7.42
Interest Expense	24	20	6	7	1	4	13	33	46	56	91	136	201	287	304
Common Equity/Total Assets	57.96	59.77	52.95	52.51	52.32	49.8	45.79	46.62	43.97	40.34	30.12	32.61	28.59	27.15	24.24
Long-Term Debt/Equity (%)	4.79	4.13	8.95	0.68	3.47	4.14	15.97	15.44	20.95	29.67	79.33	67.58	90.07	95.31	109.76
Long-Term Debt/Capital (%)	4.57	3.91	8.17	0.67	3.35	3.97	13.77	13.38	17.32	22.88	44.24	40.33	47.39	48.8	52.33
Long-Term Debt/Total Assets (%)	4.46	3.82	7.99	0.66	3.26	3.86	13.34	12.92	16.74	21.54	43.01	39.14	45.95	47.35	50.74
Total Debt/Equity (%)	4.79	5.77	9.51	0.68	3.47	4.14	15.97	15.44	20.95	29.67	79.33	67.58	90.07	95.31	109.76
Total Debt/Capital (%)	4.57	5.46	8.69	0.67	3.35	3.97	13.77	13.38	17.32	22.88	44.24	40.33	47.39	48.8	52.33
Total Debt/Total Assets (%)	4.46	5.33	8.5	0.66	3.26	3.86	13.34	12.92	16.74	21.54	43.01	39.14	45.95	47.35	50.74
Net Debt to Equity	3.12	5.56	9.3	-1.3	2.33	2.19	11.13	11.49	16.44	26.67	71.53	59.96	86.41	90.75	106.36
Net Debt/Capital (%)	3.02	5.27	8.51	-1.31	2.28	2.15	10.02	10.31	14.12	21.05	41.7	37.48	46.35	47.57	51.54
EBITDA	1,121	1,230	1,339	1,493	1,658	1,808	1,878	1,898	1,980	1,964	2,406	5,158	3,263	3,315	3,388
EBITDA-CapEx	1,102	1,219	1,248	1,351	1,430	1,538	1,539	1,559	1,980	1,964	2,406	5,158	3,263	3,315	3,388
Operating Income (Loss)	765	872	951	1,055	1,232	1,374	1,423	1,414	1,467	1,411	1,706	2,169	2,319	2,201	2,260

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	0.66	0.05	0.07	0.76	0.4	0.62	1.29	0.97	1.07	0.65	1.52	1.51	0.62	0.76	0.52
Current Ratio	2.57	1.28	1.67	0.76	0.4	0.62	1.29	0.97	1.07	0.65	1.52	1.51	0.62	0.78	0.75
Quick Ratio	2.57	1.28	1.67	0.76	0.4	0.62	1.29	0.97	1.07	0.65	1.52	1.51	0.62	0.78	0.75
CFO/Avg Current Liab	5.78	4.71	4.74	6.22	6.87	6.95	6.21	5.83	5.48	5.25	5.8	6.25	5.83	5.27	5.31
Common Equity/Total Assets	57.96	59.77	52.95	52.51	52.32	49.8	45.79	46.62	43.97	40.34	30.12	32.61	28.59	27.15	24.24
Long-Term Debt/Equity (%)	4.79	4.13	8.95	0.68	3.47	4.14	15.97	15.44	20.95	29.67	79.33	67.58	90.07	95.31	109.76
Long-Term Debt/Capital (%)	4.57	3.91	8.17	0.67	3.35	3.97	13.77	13.38	17.32	22.88	44.24	40.33	47.39	48.8	52.33
Long-Term Debt/Total Assets (%)	4.46	3.82	7.99	0.66	3.26	3.86	13.34	12.92	16.74	21.54	43.01	39.14	45.95	47.35	50.74
Total Debt/Equity (%)	4.79	5.77	9.51	0.68	3.47	4.14	15.97	15.44	20.95	29.67	79.33	67.58	90.07	95.31	109.76
Total Debt/Capital (%)	4.57	5.46	8.69	0.67	3.35	3.97	13.77	13.38	17.32	22.88	44.24	40.33	47.39	48.8	52.33
Total Debt/Total Assets (%)	4.46	5.33	8.5	0.66	3.26	3.86	13.34	12.92	16.74	21.54	43.01	39.14	45.95	47.35	50.74
CFO/Total Liabilities	197.52	191.74	135.27	514.77	301.12	282.47	111.56	115.7	90.46	63.06	31.96	42.21	33.46	31.47	29.32
CFO/CapEx	62.8	120.29	15.8	11.33	7.65	7.21	5.83	6.09	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	62.8	45.23	33.64	12.91	12.3	10.21	7.85	5.48	4.66	3.9	3.68	3.01

Working Capital (USD)

Working Capital Ratios API ChatGPT

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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	- -	- -	- -	32,331	43,195	37,885	36,210	34,731	36,572	39,552	65,971	49,179	53,521	51,786	45,159
- Cash & Cash Equivalents	139	17	19	188	104	184	433	361	410	258	735	775	370	447	318
+ Preferred Equity and Hybrid Capital	3,111	2,838	3,563	4,325	4,055	4,368	4,025	4,025	4,065	3,793	4,100	4,350	4,350	4,350	4,350
+ Minority/Non Controlling Interest	35	29	27	26	27	30	24	25	17	18	88	93	94	101	94
+ Total Debt	398	469	839	64	319	391	1,431	1,412	1,902	2,545	7,475	6,871	9,103	9,353	10,254
Enterprise Value	- -	- -	- -	36,559	47,492	42,489	41,258	39,832	42,146	45,649	76,900	59,718	66,699	65,143	59,538
Total Capital	8,722	8,592	9,658	9,572	9,517	9,832	10,396	10,557	10,982	11,122	16,899	17,038	19,210	19,167	19,596
Total Debt/Capital (%)	4.57	5.46	8.69	0.67	3.35	3.97	13.77	13.38	17.32	22.88	44.24	40.33	47.39	48.8	52.33
Total Debt / EV	- -	- -	- -	- -	0.01	0.01	0.03	0.04	0.05	0.06	0.1	0.12	0.14	0.14	0.17
EV/Sales	- -	- -	- -	16.79	19.94	16.59	15.46	14.43	14.76	15.66	22.51	14.28	14.76	13.87	12.34
EV/EBITDA	- -	- -	- -	24.49	28.64	23.5	21.97	20.99	21.29	23.24	31.96	11.58	20.44	19.65	17.57
EV/EBIT	- -	- -	- -	34.64	38.55	30.91	28.99	28.17	28.73	32.35	45.42	13.99	29.09	29.8	26.63
EV/Cash Flow to Firm	- -	- -	- -	22.7	27.16	21.79	20.78	19	19.94	21.75	29.2	18.36	19.35	19.08	- -
EV/Free Cash Flow to Firm	- -	- -	- -	24.89	31.24	25.3	25.05	22.67	19.94	21.75	29.2	18.36	19.35	19.08	- -
Diluted Market Cap	- -	- -	- -	32,460	43,342	38,014	36,272	34,764	36,595	39,565	66,134	49,464	53,665	51,972	45,262
Diluted Enterprise Value	- -	- -	- -	36,688	47,639	42,618	41,320	39,865	42,170	45,663	77,063	60,003	66,842	65,329	59,642
EV per Share	- -	- -	- -	212	274.64	245.19	237.31	228.75	241.64	261.48	439.09	340.73	379.68	371.38	339.25
TTM Sales	1,736	1,843	1,965	2,177	2,382	2,561	2,669	2,760	2,855	2,915	3,416	4,182	4,518	4,696	4,824
TTM EBITDA	1,121	1,230	1,339	1,493	1,658	1,808	1,878	1,898	1,980	1,964	2,406	5,158	3,263	3,315	3,388
TTM Operating Income	765	872	951	1,055	1,232	1,374	1,423	1,414	1,467	1,411	1,706	2,169	2,319	2,201	2,260
TTM Cash Flow to Firm	1,228	1,305	1,437	1,610	1,749	1,950	1,986	2,096	2,113	2,099	2,634	3,253	3,447	3,415	- -
TTM Free Cash Flow to Firm	1,209	1,295	1,346	1,469	1,520	1,680	1,647	1,757	2,113	2,099	2,634	3,253	3,447	3,415	- -

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	- -	- -	- -	22.2	28.52	22.69	22.19	20.15	17.7	19.37	26	15.87	16.53	16.61	14.2
EV/EBIT	- -	- -	- -	34.64	38.55	30.91	28.99	28.17	28.73	32.35	45.42	13.99	29.09	29.8	26.63
Enterprise Value	- -	- -	- -	36,559	47,492	42,489	41,258	39,832	42,146	45,649	76,900	59,718	66,699	65,143	59,538
Low Price	- -	- -	- -	160.72	178.98	200.38	189.85	178.48	193.38	160.64	212.44	273.68	235.13	255.95	257.31
EV/Sales	- -	- -	- -	16.79	19.94	16.59	15.46	14.43	14.76	15.66	22.51	14.28	14.76	13.87	12.34
EV/EBITDA	- -	- -	- -	24.49	28.64	23.5	21.97	20.99	21.29	23.24	31.96	11.58	20.44	19.65	17.57
Price/Earnings	- -	- -	- -	35.43	40.8	31.84	30.74	23.21	28.6	35.88	37.9	11.84	27.37	27.58	28.4
Price/Earnings Average	- -	- -	- -	32.83	33.59	34.65	31.45	23.94	31.08	33.19	29.17	13.91	25.26	28.43	32.03
Price/Earnings High	- -	- -	- -	35.56	41.42	40.55	34.23	27.31	36.48	37.62	37.9	17.74	28.24	34.12	34.83
Price/Earnings Low	- -	- -	- -	30.37	29.24	29.18	28.02	20.77	26.38	25.44	21.38	11.54	21.12	23.91	28.4
Price/Book Value	- -	- -	- -	6.27	8.44	7.51	7.37	6.82	7.32	8.3	12.6	8.59	9.45	9.66	9.22
Price/Book Value Average	- -	- -	- -	5.81	6.95	8.17	7.54	7.03	7.95	7.68	9.7	10.1	8.72	9.96	10.4
Price/Book Value High	- -	- -	- -	6.29	8.57	9.56	8.2	8.02	9.33	8.7	12.6	12.88	9.75	11.95	11.31
Price/Book Value Low	- -	- -	- -	5.38	6.05	6.88	6.72	6.1	6.75	5.88	7.11	8.38	7.29	8.37	9.22
Price/Tangible Book Value	- -	- -	- -	6.56	8.81	7.84	7.7	7.11	7.63	8.67	13.38	8.96	10.14	10.19	9.72
Price/Tangible Book Value Average	- -	- -	- -	6.08	7.25	8.53	7.88	7.33	8.29	8.02	10.29	10.52	9.36	10.51	10.96
Price/Tangible Book Value High	- -	- -	- -	6.59	8.94	9.98	8.58	8.37	9.73	9.09	13.38	13.42	10.47	12.61	11.92
Price/Tangible Book Value Low	- -	- -	- -	5.62	6.31	7.19	7.02	6.36	7.04	6.15	7.54	8.74	7.83	8.84	9.72
Price/Sales	- -	- -	- -	14.83	18.11	14.78	13.55	12.57	12.8	13.56	19.28	11.76	11.83	11.03	9.36
Price/Sales Average	- -	- -	- -	13.74	14.91	16.08	13.86	12.97	13.91	12.55	14.84	13.81	10.92	11.37	10.56
Price/Sales High	- -	- -	- -	14.89	18.39	18.82	15.09	14.79	16.33	14.22	19.28	17.62	12.21	13.64	11.48
Price/Sales Low	- -	- -	- -	12.71	12.98	13.55	12.35	11.25	11.8	9.62	10.88	11.47	9.13	9.56	9.36
Price/Cash Flow	- -	- -	- -	20.14	24.68	19.45	18.33	16.81	17.67	19.35	25.9	15.78	16.47	16.55	14.17
Price/Cash Flow Average	- -	- -	- -	18.66	20.31	21.17	18.75	17.34	19.21	17.9	19.93	18.53	15.2	17.06	15.98
Price/Cash Flow High	- -	- -	- -	20.21	25.05	24.77	20.41	19.78	22.54	20.29	25.9	23.65	16.99	20.48	17.38
Price/Cash Flow Low	- -	- -	- -	17.26	17.68	17.83	16.71	15.05	16.3	13.72	14.6	15.39	12.71	14.35	14.17
Price/Free Cash Flow Average	- -	- -	- -	20.57	23.48	24.69	22.71	20.78	19.23	17.92	20.01	18.64	15.26	17.13	16.02
Price/Free Cash Flow High	- -	- -	- -	22.29	28.95	28.89	24.72	23.71	22.57	20.31	26	23.78	17.06	20.56	17.42
Price/Free Cash Flow Low	- -	- -	- -	19.03	20.43	20.8	20.23	18.04	16.32	13.73	14.66	15.48	12.76	14.4	14.2
EV/Sales Average	- -	- -	- -	15.7	16.73	17.9	15.77	14.83	15.87	14.64	18.06	16.34	13.85	14.21	13.54
EV/Sales High	- -	- -	- -	16.85	20.22	20.64	17	16.66	18.29	16.32	22.51	20.14	15.14	16.49	14.46
EV/Sales Low	- -	- -	- -	14.67	14.8	15.36	14.26	13.11	13.77	11.71	14.09	13.99	12.06	12.41	12.34
EV/EBITDA Average	- -	- -	- -	22.91	24.04	25.35	22.42	21.56	22.89	21.73	25.64	13.25	19.18	20.13	19.28
EV/EBITDA High	- -	- -	- -	24.58	29.04	29.23	24.17	24.22	26.38	24.21	31.96	16.33	20.97	23.36	20.59
EV/EBITDA Low	- -	- -	- -	21.4	21.26	21.75	20.27	19.06	19.85	17.38	20	11.34	16.7	17.57	17.57
EV/EBIT Average	- -	- -	- -	32.39	32.35	33.35	29.58	28.93	30.89	30.25	36.45	16	27.3	30.54	29.21
EV/EBIT High	- -	- -	- -	34.75	39.08	38.45	31.88	32.5	35.6	33.71	45.42	19.73	29.84	35.43	31.2
EV/EBIT Low	- -	- -	- -	30.27	28.61	28.61	26.74	25.59	26.79	24.19	28.43	13.7	23.76	26.65	26.63
Last Price	- -	- -	- -	187.48	249.8	218.62	208.28	199.45	209.68	226.55	376.69	280.6	304.67	295.23	257.31
High Price	- -	- -	- -	188.18	253.58	278.4	231.96	234.66	267.44	237.54	376.69	420.56	314.42	365.31	315.6
Enterprise Value Average	- -	- -	- -	34,187	39,856	45,833	42,096	40,912	45,316	42,691	61,701	68,317	62,584	66,743	65,316
Enterprise Value High	- -	- -	- -	36,679	48,147	52,847	45,374	45,962	52,221	47,568	76,900	84,249	68,412	77,436	69,767
Enterprise Value Low	- -	- -	- -	31,943	35,247	39,329	38,053	36,179	39,303	34,143	48,135	58,505	54,482	58,253	59,538

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	170	171	172	172	173	173	174	174	174	175	175	175	176	175	176
Diluted Weighted Avg Shares	171	172	173	173	174	174	174	174	175	175	176	176	176	176	176
Basic Weighted Avg Shares	170	171	172	172	173	173	174	174	174	174	175	175	175	175	175
Revenue per Share	10.23	10.8	11.45	12.64	13.79	14.79	15.37	15.86	16.38	16.71	19.53	23.86	25.75	26.78	27.5
EBITDA per Share	6.61	7.21	7.8	8.66	9.6	10.44	10.82	10.91	11.36	11.26	13.76	29.43	18.59	18.91	19.31
Operating Income per Share	4.51	5.11	5.54	6.13	7.13	7.94	8.2	8.13	8.42	8.09	9.76	12.38	13.22	12.55	12.88
Basic EPS, GAAP	3.32	3.94	4.94	5.29	6.12	6.87	6.78	8.59	7.33	6.31	9.94	23.71	11.13	10.71	9.06
Basic EPS from Cont Ops	4.91	5.45	6.16	6.68	7.63	8.44	8.34	9.87	8.75	7.8	11.21	24.91	12.31	11.89	10.24
Diluted EPS, GAAP	3.3	3.92	4.91	5.26	6.09	6.84	6.75	8.58	7.32	6.31	9.9	23.57	11.09	10.66	9.04
Diluted EPS from Cont Ops	4.88	5.42	6.12	6.64	7.59	8.4	8.32	9.85	8.74	7.79	11.16	24.77	12.26	11.84	10.22
Dividend per Share	4.99	5.62	6.36	6.97	7.94	8.7	9.39	9.27	9.23	9.21	9.09	22.3	13.14	13.13	13.13
Cash Flow per Share	7.09	7.54	8.33	9.31	10.12	11.24	11.36	11.86	11.86	11.71	14.55	17.79	18.5	17.84	18.16
Free Cash Flow per Basic Share	6.98	7.48	7.81	8.49	8.8	9.68	9.41	9.91	11.86	11.71	14.55	17.79	18.5	17.84	18.16
Cash & Equivalents per Share	0.82	0.1	0.11	1.09	0.6	1.06	2.49	2.07	2.35	1.48	4.19	4.42	2.11	2.55	1.81
Book Value per Share	30.41	30.67	30.44	29.9	29.58	29.11	28.27	29.26	28.65	27.3	29.89	32.66	32.24	30.57	27.91
Tangible Book Value per Share	29.18	29.45	29.01	28.57	28.36	27.88	27.03	28.05	27.47	26.13	28.16	31.33	30.03	28.96	26.48