Tractor Supply Company Financial Ratios — TR4 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 (%)	22.94	27.19	28.9	29.2	30.55	30.71	29.43	35.72	35.95	42.91	50.79	53.83	52.82	49.83	45.18
Return on Assets (%)	14.57	16.75	18.18	18.84	18.63	17.33	15.25	17.88	13.43	12.14	13.46	13.39	12.53	11.6	10.57
Return on Capital (%)	23.05	27.22	28.89	29.22	28.83	26.59	23.73	28.16	18.41	15.83	17.88	18.19	16.94	15.37	14.18
Return on Invested Capital (%)	22.71	26.51	28.24	28.97	28.65	26.5	23.62	28.07	18.38	15.79	17.85	18.17	16.93	15.37	14.18
Gross Margin (%)	33.24	33.58	33.95	34.15	34.42	34.3	34.34	34.16	34.38	35.42	35.17	35	35.92	36.26	36.42
EBITDA Margin (%)	10.23	11.27	11.9	12.33	12.43	12.35	11.74	11.11	11.25	11.43	12.39	12.52	12.86	12.86	12.63
Operating Margin (%)	8.33	9.36	9.96	10.32	10.45	10.24	9.46	8.87	8.9	10.04	10.26	10.1	10.16	9.86	9.45
Incremental Operating Margin (%)	14.55	19.49	15.55	13.68	11.86	7.88	- -	2.35	9.41	14.22	11.41	8.7	12.53	- -	- -
Pretax Margin (%)	8.28	9.34	9.95	10.29	10.4	10.15	9.27	8.64	8.66	9.12	10.05	9.89	9.84	9.49	9.01
Profit Margin (%)	5.26	5.93	6.36	6.49	6.59	6.45	5.82	6.73	6.73	7.05	7.83	7.66	7.61	7.4	7.06
Net Income to Common Margin (%)	5.26	5.93	6.36	6.49	6.59	6.45	5.82	6.73	6.73	7.05	7.83	7.66	7.61	7.4	7.06
Effective Tax Rate (%)	36.47	36.55	36.15	36.88	36.63	36.49	37.16	22.1	22.26	22.64	22.11	22.47	22.7	22.06	21.61
Dvd Payout Ratio (%)	13.85	18.56	20.86	22.66	25.12	27.97	31.67	27.63	28.93	23.32	23.97	37.62	40.61	42.91	44.49
Sustainable Growth Rate (%)	19.77	22.15	22.87	22.58	22.87	22.12	20.11	25.85	25.55	32.9	38.61	33.58	31.37	28.45	25.08

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	1	1	5	168	301	462	440	2,709	3,542	3,919	4,270	5,036	5,424	5,943
ST Debt	- -	- -	- -	- -	1	11	29	30	311	303	325	350	373	400	455
LT Debt	1	1	1	5	167	290	434	410	2,398	3,238	3,594	3,921	4,663	5,024	5,488
Total Debt/EBITDA	- -	- -	- -	0.01	0.22	0.36	0.54	0.5	2.88	2.92	2.49	2.4	2.69	2.83	3.03
Net Debt/EBITDA	-0.41	-0.26	-0.23	-0.07	0.11	0.26	0.37	0.37	0.33	-0.29	0.07	0.54	0.71	0.83	0.8
Total Debt/EBIT	- -	- -	- -	0.01	0.26	0.43	0.67	0.63	3.65	3.55	3	2.98	3.41	3.7	4.05
Net Debt/EBIT	-0.5	-0.32	-0.28	-0.09	0.13	0.32	0.46	0.46	0.42	-0.36	0.08	0.67	0.9	1.08	1.07
EBITDA to Interest Expense	207.5	498.36	1,103.55	373.53	267.75	144.07	61.49	47.9	47.33	42.18	59.26	58.04	40.25	35.07	28.37
EBITDA-CapEx/Interest Expense	207.5	498.36	1,103.55	373.53	267.75	144.07	61.49	47.9	47.33	42.18	59.26	58.04	40.25	35.07	28.37
EBIT to Interest Expense	169	414.02	923.97	312.72	225.01	119.46	49.53	38.24	37.46	37.03	49.11	46.84	31.8	26.88	21.22
Interest Expense	2	1	1	2	3	6	14	18	20	29	27	31	47	55	69
Common Equity/Total Assets	63.22	60.05	65.51	63.58	58.77	54.33	49.45	50.62	29.63	27.29	25.78	24.06	23.4	23.15	23.61
Long-Term Debt/Equity (%)	0.13	0.12	0.1	0.38	11.99	19.94	30.57	26.28	153.02	168.32	179.47	191.96	216.92	221.3	212.59
Long-Term Debt/Capital (%)	0.13	0.12	0.1	0.38	10.7	16.52	23.06	20.5	56.08	59.25	60.69	62.11	64.9	65.29	64.38
Long-Term Debt/Total Assets (%)	0.08	0.07	0.06	0.24	7.04	10.83	15.12	13.3	45.34	45.94	46.27	46.18	50.75	51.24	50.19
Total Debt/Equity (%)	0.13	0.12	0.1	0.4	12.05	20.72	32.58	28.19	172.88	184.09	195.7	209.08	234.26	238.93	230.23
Total Debt/Capital (%)	0.13	0.12	0.1	0.4	10.75	17.16	24.57	21.99	63.35	64.8	66.18	67.65	70.08	70.5	69.72
Total Debt/Total Assets (%)	0.08	0.07	0.07	0.25	7.08	11.25	16.11	14.27	51.22	50.24	50.46	50.3	54.81	55.32	54.35
Net Debt to Equity	-17.55	-13.53	-11.45	-3.95	6.19	15.13	22.34	20.56	19.92	-18.58	5.41	47.08	61.96	69.62	60.86
Net Debt/Capital (%)	-21.25	-15.62	-12.91	-4.1	5.76	12.93	17.89	16.76	7.45	-8.67	2.15	15.74	19.62	21.23	18.86
EBITDA	433	526	615	704	774	837	852	879	939	1,214	1,577	1,778	1,872	1,915	1,961
EBITDA-CapEx	433	526	615	704	774	837	852	879	939	1,214	1,577	1,778	1,872	1,915	1,961
Operating Income (Loss)	353	437	515	589	651	694	686	702	743	1,066	1,307	1,435	1,479	1,468	1,467

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	0.38	0.25	0.27	0.08	0.1	0.07	0.13	0.09	0.07	0.77	0.43	0.09	0.18	0.11	0.07
Current Ratio	2.37	2.02	2.27	2.11	2.14	1.95	1.95	1.91	1.43	1.87	1.57	1.33	1.5	1.43	1.34
Quick Ratio	0.38	0.25	0.27	0.08	0.1	0.07	0.13	0.1	0.07	0.77	0.43	0.09	0.18	0.12	0.08
CFO/Avg Current Liab	0.57	0.74	0.61	0.72	0.72	0.9	0.78	0.78	0.74	0.93	0.6	0.61	0.59	0.63	0.66
Common Equity/Total Assets	63.22	60.05	65.51	63.58	58.77	54.33	49.45	50.62	29.63	27.29	25.78	24.06	23.4	23.15	23.61
Long-Term Debt/Equity (%)	0.13	0.12	0.1	0.38	11.99	19.94	30.57	26.28	153.02	168.32	179.47	191.96	216.92	221.3	212.59
Long-Term Debt/Capital (%)	0.13	0.12	0.1	0.38	10.7	16.52	23.06	20.5	56.08	59.25	60.69	62.11	64.9	65.29	64.38
Long-Term Debt/Total Assets (%)	0.08	0.07	0.06	0.24	7.04	10.83	15.12	13.3	45.34	45.94	46.27	46.18	50.75	51.24	50.19
Total Debt/Equity (%)	0.13	0.12	0.1	0.4	12.05	20.72	32.58	28.19	172.88	184.09	195.7	209.08	234.26	238.93	230.23
Total Debt/Capital (%)	0.13	0.12	0.1	0.4	10.75	17.16	24.57	21.99	63.35	64.8	66.18	67.65	70.08	70.5	69.72
Total Debt/Total Assets (%)	0.08	0.07	0.07	0.25	7.08	11.25	16.11	14.27	51.22	50.24	50.46	50.3	54.81	55.32	54.35
CFO/Total Liabilities	43.33	55.48	50.83	55.22	46.67	53.26	43.55	45.58	21.81	27.21	19.75	21.05	18.95	18.86	19.58
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	10.46	14.91	14.18	12.42	10.18	9.16	9.28	4.94	5.06	6.06	5.67	5.29	5.5	4.95

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	3.61	3.56	3.61	3.59	3.4	3.36	3.38	3.42	3.43	4.05	4.15	3.77	3.48	3.46	3.33
Days Inventory Outstanding	101.22	102.44	100.98	101.64	107.26	108.74	108.13	106.61	106.31	90.1	87.88	96.87	104.78	105.54	109.55
Accounts Payable Turnover	11.37	10.82	10.94	11.34	10.66	9.59	8.85	8.93	8.7	8.7	8.13	7.64	7.19	8.01	7.7
Accounts Payable Turnover Days	32.11	33.73	33.38	32.18	34.25	38.06	41.26	40.86	41.96	41.98	44.91	47.8	50.79	45.54	47.41
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	831	908	979	1,115	1,284	1,370	1,453	1,590	1,603	1,783	2,191	2,710	2,646	2,840	3,084
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	831	908	979	1,115	1,284	1,370	1,453	1,590	1,603	1,783	2,191	2,710	2,646	2,840	3,084

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	- -	6,055	10,553	10,713	11,669	9,925	9,409	10,041	10,833	16,573	26,567	24,703	23,183	28,809	26,608
- Cash & Cash Equivalents	177	139	143	51	64	54	109	86	84	1,342	878	203	397	251	194
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1	1	1	5	168	301	462	440	2,709	3,542	3,919	4,270	5,036	5,424	5,943
Enterprise Value	- -	5,918	10,411	10,667	11,773	10,172	9,762	10,395	13,458	18,773	29,608	28,771	27,822	33,982	32,357
Total Capital	1,010	1,026	1,248	1,299	1,561	1,754	1,881	2,002	4,276	5,465	5,922	6,313	7,186	7,695	8,524
Total Debt/Capital (%)	0.13	0.12	0.1	0.4	10.75	17.16	24.57	21.99	63.35	64.8	66.18	67.65	70.08	70.5	69.72
Total Debt / EV	- -	- -	- -	- -	0.01	0.03	0.05	0.04	0.2	0.19	0.13	0.15	0.18	0.16	0.18
EV/Sales	- -	1.27	2.02	1.87	1.89	1.5	1.35	1.31	1.61	1.77	2.33	2.03	1.91	2.28	2.08
EV/EBITDA	- -	11.26	16.94	15.15	15.21	12.15	11.45	11.82	14.33	15.46	18.78	16.18	14.86	17.75	16.5
EV/EBIT	- -	13.55	20.23	18.1	18.1	14.66	14.22	14.81	18.11	18.83	22.66	20.05	18.81	23.16	22.05
EV/Cash Flow to Firm	- -	15.62	31.17	25.99	25.7	15.54	15.25	14.67	16.27	13.25	25.54	20.84	20.31	23.22	19.15
EV/Free Cash Flow to Firm	- -	15.62	31.17	25.99	25.7	15.54	15.25	14.67	16.27	13.25	25.54	20.84	20.31	23.22	19.15
Diluted Market Cap	- -	6,339	10,709	10,953	11,896	10,154	9,626	10,176	11,069	16,743	27,201	25,128	23,563	29,213	26,868
Diluted Enterprise Value	- -	6,201	10,567	10,907	12,001	10,401	9,980	10,530	13,694	18,943	30,242	29,196	28,202	34,386	32,617
EV per Share	- -	8.51	14.91	15.64	17.54	15.55	15.58	17.07	22.78	32.3	52.35	52.19	51.53	63.85	61.4
TTM Sales	4,233	4,664	5,165	5,712	6,227	6,780	7,256	7,911	8,352	10,620	12,731	14,205	14,556	14,883	15,524
TTM EBITDA	433	526	615	704	774	837	852	879	939	1,214	1,577	1,778	1,872	1,915	1,961
TTM Operating Income	353	437	515	589	651	694	686	702	743	1,066	1,307	1,435	1,479	1,468	1,467
TTM Cash Flow to Firm	255	379	334	410	458	654	640	709	827	1,417	1,159	1,381	1,370	1,463	1,689
TTM Free Cash Flow to Firm	255	379	334	410	458	654	640	709	827	1,417	1,159	1,381	1,370	1,463	1,689

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	- -	16.76	32.09	26.77	26.08	15.6	15.25	14.66	13.64	12.01	23.89	18.52	17.66	20.56	16.43
EV/EBIT	- -	13.55	20.23	18.1	18.1	14.66	14.22	14.81	18.11	18.83	22.66	20.05	18.81	23.16	22.05
Enterprise Value	- -	5,918	10,411	10,667	11,773	10,172	9,762	10,395	13,458	18,773	29,608	28,771	27,822	33,982	32,357
Low Price	- -	7.74	6.48	11.2	14.74	12.32	9.93	11.64	16.11	12.84	27.36	33.9	36.82	42.53	46.52
EV/Sales	- -	1.27	2.02	1.87	1.89	1.5	1.35	1.31	1.61	1.77	2.33	2.03	1.91	2.28	2.08
EV/EBITDA	- -	11.26	16.94	15.15	15.21	12.15	11.45	11.82	14.33	15.46	18.78	16.18	14.86	17.75	16.5
Price/Earnings	- -	22.4	32.09	29.18	28.72	23.07	22.67	18.99	19.52	22.15	27.04	22.91	21.15	26.39	24.41
Price/Earnings Average	- -	23.38	24.97	24.98	28.84	25.27	19.09	17.98	20.89	18.74	21.7	21.11	21.53	25.76	26.45
Price/Earnings High	- -	26.19	32.3	29.37	31.66	29.85	23.52	22.42	24.23	24.18	27.42	24.4	24.68	29.74	30.21
Price/Earnings Low	- -	19.9	13.76	20.8	24.35	18.72	14.99	13.41	17.15	9.98	15.75	17.33	18.14	20.73	22.49
Price/Book Value	- -	5.91	8.46	8.28	8.37	6.83	6.63	6.43	6.91	8.61	13.27	12.09	10.78	12.69	10.31
Price/Book Value Average	- -	6.16	6.59	7.09	8.41	7.48	5.59	6.09	7.4	7.29	10.65	11.14	10.98	12.38	11.17
Price/Book Value High	- -	6.91	8.52	8.34	9.23	8.84	6.88	7.59	8.58	9.4	13.45	12.88	12.58	14.3	12.76
Price/Book Value Low	- -	5.25	3.63	5.9	7.1	5.54	4.39	4.54	6.07	3.88	7.73	9.15	9.25	9.97	9.5
Price/Tangible Book Value	- -	5.97	8.53	8.35	8.44	7.48	7.27	6.99	7.51	8.87	13.64	13.81	12.33	14.4	12.19
Price/Tangible Book Value Average	- -	6.23	6.64	7.15	8.47	8.19	6.12	6.62	8.04	7.51	10.95	12.72	12.55	14.05	13.21
Price/Tangible Book Value High	- -	6.97	8.59	8.4	9.3	9.67	7.54	8.25	9.32	9.68	13.84	14.7	14.38	16.22	15.09
Price/Tangible Book Value Low	- -	5.3	3.66	5.95	7.15	6.07	4.81	4.93	6.6	3.99	7.95	10.45	10.57	11.31	11.23
Price/Sales	- -	1.33	2.04	1.89	1.89	1.49	1.32	1.28	1.31	1.56	2.12	1.76	1.61	1.95	1.72
Price/Sales Average	- -	1.39	1.59	1.62	1.9	1.63	1.11	1.21	1.41	1.32	1.7	1.62	1.64	1.91	1.87
Price/Sales High	- -	1.55	2.05	1.91	2.09	1.92	1.37	1.51	1.63	1.71	2.15	1.87	1.88	2.2	2.13
Price/Sales Low	- -	1.18	0.87	1.35	1.6	1.21	0.87	0.9	1.15	0.7	1.23	1.33	1.38	1.53	1.59
Price/Cash Flow	- -	16.37	31.57	26.45	25.84	15.5	15.17	14.56	13.52	11.9	23.67	18.38	17.56	20.46	16.36
Price/Cash Flow Average	- -	17.08	24.57	22.65	25.95	16.98	12.78	13.79	14.47	10.07	19	16.94	17.87	19.96	17.73
Price/Cash Flow High	- -	19.14	31.77	26.62	28.48	20.05	15.74	17.19	16.78	12.99	24.01	19.58	20.48	23.05	20.25
Price/Cash Flow Low	- -	14.54	13.54	18.85	21.91	12.58	10.03	10.28	11.88	5.36	13.79	13.91	15.05	16.07	15.08
Price/Free Cash Flow Average	- -	17.48	24.97	22.92	26.19	17.09	12.84	13.88	14.59	10.16	19.17	17.06	17.98	20.07	17.8
Price/Free Cash Flow High	- -	19.58	32.3	26.94	28.74	20.19	15.81	17.31	16.93	13.11	24.22	19.72	20.6	23.17	20.33
Price/Free Cash Flow Low	- -	14.88	13.76	19.08	22.11	12.66	10.08	10.35	11.98	5.41	13.91	14.01	15.14	16.15	15.14
EV/Sales Average	- -	1.33	1.56	1.6	1.9	1.64	1.14	1.25	1.7	1.53	1.91	1.89	1.94	2.24	2.23
EV/Sales High	- -	1.49	2.03	1.88	2.08	1.93	1.39	1.54	1.92	1.91	2.36	2.14	2.18	2.53	2.49
EV/Sales Low	- -	1.12	0.85	1.33	1.61	1.22	0.91	0.94	1.45	0.91	1.45	1.6	1.68	1.87	1.95
EV/EBITDA Average	- -	11.76	13.13	12.96	15.27	13.28	9.71	11.22	15.14	13.36	15.45	15.09	15.08	17.39	17.63
EV/EBITDA High	- -	13.2	17.05	15.25	16.75	15.64	11.87	13.89	17.11	16.71	19.01	17.08	16.92	19.65	19.72
EV/EBITDA Low	- -	9.97	7.13	10.78	12.92	9.92	7.71	8.47	12.93	7.96	11.74	12.8	13.1	14.52	15.43
EV/EBIT Average	- -	14.15	15.68	15.48	18.17	16.02	12.06	14.05	19.13	16.27	18.64	18.69	19.09	22.68	23.56
EV/EBIT High	- -	15.89	20.36	18.22	19.93	18.86	14.73	17.4	21.62	20.35	22.95	21.17	21.42	25.64	26.36
EV/EBIT Low	- -	12	8.52	12.88	15.37	11.96	9.58	10.61	16.34	9.69	14.17	15.86	16.58	18.95	20.63
Last Price	- -	8.71	15.11	15.71	17.39	15.18	15.02	16.48	18.34	28.51	46.97	44.81	42.94	54.13	50.49
High Price	- -	10.18	15.21	15.81	19.17	19.64	15.58	19.46	22.76	31.13	47.63	47.72	50.09	60.99	62.48
Enterprise Value Average	- -	6,181	8,070	9,127	11,822	11,118	8,278	9,862	14,217	16,222	24,362	26,825	28,236	33,288	34,576
Enterprise Value High	- -	6,940	10,477	10,738	12,967	13,089	10,113	12,211	16,071	20,292	29,984	30,375	31,680	37,633	38,676
Enterprise Value Low	- -	5,240	4,384	7,590	9,997	8,301	6,575	7,444	12,145	9,664	18,515	22,755	24,515	27,805	30,267

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	713	695	698	682	671	654	627	609	591	581	566	551	540	532	527
Diluted Weighted Avg Shares	739	728	709	697	684	669	641	617	604	587	579	561	549	540	532
Basic Weighted Avg Shares	718	711	697	689	678	665	638	613	599	582	574	557	545	537	530
Revenue per Share	5.9	6.56	7.41	8.29	9.18	10.2	11.37	12.9	13.95	18.25	22.18	25.52	26.68	27.72	29.29
EBITDA per Share	0.6	0.74	0.88	1.02	1.14	1.26	1.34	1.43	1.57	2.09	2.75	3.19	3.43	3.57	3.7
Operating Income per Share	0.49	0.61	0.74	0.86	0.96	1.04	1.08	1.14	1.24	1.83	2.28	2.58	2.71	2.73	2.77
Basic EPS, GAAP	0.31	0.39	0.47	0.54	0.61	0.66	0.66	0.87	0.94	1.29	1.74	1.96	2.03	2.05	2.07
Basic EPS from Cont Ops	0.31	0.39	0.47	0.54	0.61	0.66	0.66	0.87	0.94	1.29	1.74	1.96	2.03	2.05	2.07
Diluted EPS, GAAP	0.3	0.38	0.46	0.53	0.6	0.65	0.66	0.86	0.93	1.28	1.72	1.94	2.02	2.04	2.06
Diluted EPS from Cont Ops	0.3	0.38	0.46	0.53	0.6	0.65	0.66	0.86	0.93	1.28	1.72	1.94	2.02	2.04	2.06
Dividend per Share	0.04	0.07	0.1	0.12	0.15	0.18	0.21	0.24	0.27	0.3	0.42	0.74	0.82	0.88	0.92
Cash Flow per Share	0.35	0.53	0.48	0.59	0.67	0.98	0.99	1.13	1.36	2.4	1.98	2.44	2.45	2.65	3.09
Free Cash Flow per Basic Share	0.35	0.53	0.48	0.59	0.67	0.98	0.99	1.13	1.36	2.4	1.98	2.44	2.45	2.65	3.09
Cash & Equivalents per Share	0.25	0.2	0.2	0.07	0.1	0.08	0.17	0.14	0.14	2.31	1.55	0.37	0.74	0.47	0.37
Book Value per Share	1.41	1.47	1.79	1.9	2.08	2.22	2.26	2.56	2.65	3.31	3.54	3.71	3.98	4.27	4.9
Tangible Book Value per Share	1.4	1.46	1.77	1.88	2.06	2.03	2.07	2.36	2.44	3.21	3.44	3.25	3.48	3.76	4.14