CMS Energy Corporation Financial Ratios — CSG 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 (%)	14.26	12.28	13.6	13.39	13.75	13.45	10.58	14.25	13.87	14.32	22.65	12.53	12.43	12.96	12.54
Return on Assets (%)	2.59	2.27	2.62	2.61	2.65	2.63	2.06	2.76	2.65	2.67	4.63	2.79	2.73	2.89	2.82
Return on Capital (%)	6.78	5.84	6.2	6.21	6.04	6.05	4.69	6.63	6.07	6.48	9.54	6.38	6.61	6.75	6.6
Return on Invested Capital (%)	6.46	5.62	6.02	6.18	5.85	5.92	4.66	6.14	5.18	5.61	5.19	5.16	4.47	4.99	5.02
Gross Margin (%)	26.97	29.27	30.52	29.1	33.92	36.69	38.02	34.89	36.76	40.98	36.14	32.13	38.35	42.7	41.53
EBITDA Margin (%)	23.82	25.6	26.96	25.59	29.86	32.3	33.71	30.48	31.76	35.42	30.84	27.34	32.36	36.29	35.52
Operating Margin (%)	15.42	16.04	17.39	16.05	18.25	19.63	20.33	16.91	16.83	19.16	15.64	14.24	16.55	19.79	20.22
Incremental Operating Margin (%)	43.66	- -	44.41	1.63	- -	- -	44.57	- -	18.88	- -	- -	6.16	- -	475.47	23.44
Pretax Margin (%)	9.32	9.95	11.51	10.15	12.33	12.91	13.46	11.26	11.53	12.61	11.23	10.49	12.78	14.94	14.62
Profit Margin (%)	6.38	6.11	6.88	6.64	8.1	8.61	6.99	9.56	10.27	11.76	18.46	9.74	11.89	13.35	12.54
Net Income to Common Margin (%)	6.38	6.11	6.88	6.64	8.1	8.61	6.99	9.53	10.24	11.73	18.39	9.62	11.75	13.21	12.43
Effective Tax Rate (%)	31.52	39.39	39.95	34.29	34.05	33.05	47.86	14.86	17.15	14.22	11.54	10.31	15.41	15.67	19.71
Dvd Payout Ratio (%)	50.6	66.49	59.87	61.33	61.1	62.52	81.25	61.46	68.56	67.49	71.86	68.9	79.25	69.92	70.75
Sustainable Growth Rate (%)	7.04	4.11	5.46	5.18	5.35	5.04	1.98	5.49	4.36	4.66	6.37	3.9	2.58	3.9	3.67

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	7,264	7,514	7,971	8,739	9,473	10,034	10,487	11,777	13,247	12,391	12,474	14,309	15,643	16,566	18,898
ST Debt	1,057	651	732	600	955	1,284	1,273	1,093	1,220	591	382	1,119	1,073	1,260	956
LT Debt	6,207	6,863	7,239	8,139	8,518	8,750	9,214	10,684	12,027	11,800	12,092	13,190	14,570	15,306	17,942
Total Debt/EBITDA	4.69	4.69	4.5	4.76	4.91	4.85	4.73	5.62	6.3	5.45	5.52	6.09	6.48	6.07	6.23
Net Debt/EBITDA	4.48	4.54	4.33	4.58	4.71	4.69	4.6	5.52	6.19	5.41	5.3	5.99	6.36	6	6.02
Total Debt/EBIT	7.24	7.49	6.98	7.59	8.04	7.99	7.84	10.14	11.88	10.07	10.88	11.69	12.67	11.14	10.94
Net Debt/EBIT	6.92	7.25	6.71	7.3	7.72	7.71	7.63	9.94	11.69	10	10.45	11.5	12.43	11	10.57
EBITDA to Interest Expense	3.73	4.12	4.45	4.51	4.87	4.75	5.07	4.57	4.57	4.5	4.52	4.53	3.76	3.85	3.8
EBITDA-CapEx/Interest Expense	3.6	3.99	4.31	4.35	4.58	4.51	4.8	4.26	4.3	4.25	4.25	4.32	2.23	3.63	3.53
EBIT to Interest Expense	2.42	2.58	2.87	2.83	2.97	2.89	3.05	2.54	2.42	2.44	2.29	2.36	1.92	2.1	2.16
Interest Expense	415	389	398	407	396	435	438	458	460	505	500	519	643	708	798
Common Equity/Total Assets	18.41	18.64	19.83	19.13	19.4	19.67	19.27	19.39	18.7	18.53	22.28	21.66	21.84	22.29	22.33
Long-Term Debt/Equity (%)	202.05	211.95	207.36	219.56	214.29	203.96	205.76	222.95	237.92	194.17	168.22	173.67	179.32	174.97	184.76
Long-Term Debt/Capital (%)	60.05	63.83	63.16	65.39	63.34	61.09	61.57	64.48	65.71	63.89	61.5	60.22	61.3	60.46	62.71
Long-Term Debt/Total Assets (%)	37.73	40.06	41.57	42.42	41.96	40.47	39.97	43.56	44.81	39.78	42.05	42.07	43.47	42.61	44.92
Total Debt/Equity (%)	236.46	232.06	228.33	235.74	238.31	233.89	234.19	245.76	262.06	203.9	173.54	188.4	192.53	189.37	194.6
Total Debt/Capital (%)	70.28	69.88	69.54	70.22	70.44	70.05	70.08	71.08	72.38	67.09	63.44	65.33	65.82	65.44	66.06
Total Debt/Total Assets (%)	44.15	43.86	45.77	45.55	46.67	46.41	45.5	48.01	49.36	41.77	43.38	45.64	46.67	46.12	47.31
Net Debt to Equity	225.78	224.46	219.45	226.84	228.65	225.85	228.09	241.13	257.78	202.45	166.61	185.35	188.97	186.91	187.97
Net Debt/Capital (%)	68.17	68.19	67.86	68.71	68.95	68.77	69.09	70.39	71.75	66.73	62.34	64.75	65.22	64.86	64.96
EBITDA	1,549	1,601	1,770	1,837	1,928	2,067	2,219	2,095	2,104	2,273	2,260	2,350	2,415	2,727	3,033
EBITDA-CapEx	1,495	1,552	1,714	1,771	1,813	1,960	2,104	1,949	1,977	2,144	2,127	2,243	1,436	2,567	2,819
Operating Income (Loss)	1,003	1,003	1,142	1,152	1,178	1,256	1,338	1,162	1,115	1,230	1,146	1,224	1,235	1,487	1,727

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	0.07	0.05	0.09	0.11	0.12	0.09	0.07	0.06	0.05	0.01	0.21	0.05	0.08	0.03	0.14
Current Ratio	1.1	1.35	1.3	1.33	1.01	0.86	0.89	0.94	0.86	0.78	1.19	1.15	0.98	0.79	0.98
Quick Ratio	0.47	0.57	0.6	0.63	0.51	0.47	0.51	0.53	0.48	0.29	0.63	0.58	0.4	0.33	0.52
CFO/Avg Current Liab	0.54	0.6	0.76	0.76	0.77	0.66	0.63	0.63	0.67	0.44	0.69	0.33	0.79	0.74	0.63
Common Equity/Total Assets	18.41	18.64	19.83	19.13	19.4	19.67	19.27	19.39	18.7	18.53	22.28	21.66	21.84	22.29	22.33
Long-Term Debt/Equity (%)	202.05	211.95	207.36	219.56	214.29	203.96	205.76	222.95	237.92	194.17	168.22	173.67	179.32	174.97	184.76
Long-Term Debt/Capital (%)	60.05	63.83	63.16	65.39	63.34	61.09	61.57	64.48	65.71	63.89	61.5	60.22	61.3	60.46	62.71
Long-Term Debt/Total Assets (%)	37.73	40.06	41.57	42.42	41.96	40.47	39.97	43.56	44.81	39.78	42.05	42.07	43.47	42.61	44.92
Total Debt/Equity (%)	236.46	232.06	228.33	235.74	238.31	233.89	234.19	245.76	262.06	203.9	173.54	188.4	192.53	189.37	194.6
Total Debt/Capital (%)	70.28	69.88	69.54	70.22	70.44	70.05	70.08	71.08	72.38	67.09	63.44	65.33	65.82	65.44	66.06
Total Debt/Total Assets (%)	44.15	43.86	45.77	45.55	46.67	46.41	45.5	48.01	49.36	41.77	43.38	45.64	46.67	46.12	47.31
CFO/Total Liabilities	8.74	8.93	10.2	9.57	10.05	9.4	9.18	8.63	8.22	5.41	8.43	3.6	9.09	8.72	7.39
CFO/CapEx	21.65	25.33	25.38	22.44	14.26	15.22	14.83	11.66	14.09	9.89	13.68	7.99	2.36	14.81	10.44
Altman's Z-Score	- -	0.76	0.84	0.92	0.82	0.83	0.86	0.84	0.86	0.77	0.99	0.95	0.81	0.84	0.87

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	6.99	7.17	7.34	7.91	7.7	7.97	7.06	6.8	7.04	7.23	8.13	6.89	5.98	7.58	7.25
Days Sales Outstanding	52.2	50.9	49.72	46.17	47.41	45.8	51.7	53.69	51.82	50.47	44.9	52.97	61.07	48.13	50.33
Inventory Turnover	4.02	3.9	4.64	5.66	5.03	5.77	6.29	6.77	6.68	6.41	7.53	6.54	4.48	5.05	6.4
Days Inventory Outstanding	90.77	93.71	78.61	64.5	72.56	63.25	58.06	53.91	54.68	56.9	48.47	55.81	81.53	72.35	57.02
Accounts Payable Turnover	8.85	7.82	7.81	7.99	6.2	6.29	6.17	6.05	6.06	5.77	6.18	6.97	5.11	4.38	4.04
Accounts Payable Turnover Days	41.25	46.68	46.72	45.67	58.83	58.04	59.18	60.37	60.25	63.26	59.02	52.36	71.41	83.24	90.25
Cash Conversion Cycle	101.72	97.92	81.61	65	61.13	51.01	50.58	47.24	46.25	44.11	34.35	56.42	71.18	37.24	17.1
Inventory to Cash Days	-38.57	-42.8	-28.88	-18.34	-25.15	-17.45	-6.36	-0.22	-2.85	-6.43	-3.58	-2.84	-20.46	-24.21	-6.69
Inventories	1,187	1,084	881	918	778	626	672	650	605	576	667	1,117	938	769	791
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	1,187	1,084	881	918	778	626	672	650	605	576	667	1,117	938	769	791

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	- -	6,380	7,061	10,007	10,120	11,673	13,366	14,035	17,809	17,203	19,042	18,715	17,048	19,907	21,601
- Cash & Cash Equivalents	161	93	172	207	266	235	182	153	140	32	452	164	227	103	509
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	224	224	224	224	224
+ Minority/Non Controlling Interest	44	44	37	37	37	37	37	37	37	581	557	580	581	518	567
+ Total Debt	7,264	7,514	7,971	8,739	9,473	10,034	10,487	11,777	13,247	12,391	12,474	14,309	15,643	16,566	18,898
Enterprise Value	- -	13,845	14,897	18,576	19,364	21,509	23,708	25,696	30,953	30,143	31,845	33,664	33,269	37,112	40,781
Total Capital	10,336	10,752	11,462	12,446	13,448	14,324	14,965	16,569	18,302	18,468	19,662	21,904	23,768	25,314	28,609
Total Debt/Capital (%)	70.28	69.88	69.54	70.22	70.44	70.05	70.08	71.08	72.38	67.09	63.44	65.33	65.82	65.44	66.06
Total Debt / EV	- -	0.54	0.54	0.47	0.49	0.47	0.44	0.46	0.43	0.41	0.39	0.43	0.47	0.45	0.46
EV/Sales	- -	2.21	2.27	2.59	3	3.36	3.6	3.74	4.67	4.7	4.35	3.92	4.46	4.94	4.78
EV/EBITDA	- -	8.65	8.42	10.11	10.04	10.41	10.68	12.27	14.71	13.26	14.09	14.33	13.78	13.61	13.45
EV/EBIT	- -	13.8	13.04	16.13	16.44	17.13	17.72	22.11	27.76	24.51	27.79	27.5	26.94	24.96	23.61
EV/Cash Flow to Firm	- -	9.38	8.97	10.62	10.19	11.2	12.26	12.28	14.26	17.64	14.08	25.49	11.66	12.51	14.18
EV/Free Cash Flow to Firm	- -	9.7	9.29	11.04	10.84	11.86	13.04	13.2	15.14	19.08	14.96	27.74	17.75	13.22	15.32
Diluted Market Cap	- -	6,489	7,218	10,000	10,077	11,665	13,328	14,011	17,834	17,048	19,022	18,715	17,048	19,907	21,601
Diluted Enterprise Value	- -	13,954	15,054	18,569	19,321	21,501	23,670	25,672	30,978	29,988	31,825	33,664	33,269	37,112	40,781
EV per Share	- -	52.42	55.98	67.5	69.86	77.04	84.19	90.67	109.03	104.34	109.89	115.56	113.01	124.21	133.09
TTM Sales	6,503	6,253	6,566	7,179	6,456	6,399	6,583	6,873	6,624	6,418	7,329	8,596	7,462	7,515	8,539
TTM EBITDA	1,549	1,601	1,770	1,837	1,928	2,067	2,219	2,095	2,104	2,273	2,260	2,350	2,415	2,727	3,033
TTM Operating Income	1,003	1,003	1,142	1,152	1,178	1,256	1,338	1,162	1,115	1,230	1,146	1,224	1,235	1,487	1,727
TTM Cash Flow to Firm	1,453	1,477	1,660	1,748	1,901	1,920	1,933	2,093	2,171	1,709	2,261	1,320	2,853	2,967	2,876
TTM Free Cash Flow to Firm	1,399	1,428	1,604	1,682	1,786	1,813	1,818	1,947	2,044	1,580	2,128	1,213	1,874	2,807	2,662

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	- -	5.44	5.29	7.07	6.61	7.66	8.38	9	10.72	14.86	11.28	25.02	12.82	9.01	10.69
EV/EBIT	- -	13.8	13.04	16.13	16.44	17.13	17.72	22.11	27.76	24.51	27.79	27.5	26.94	24.96	23.61
Enterprise Value	- -	13,845	14,897	18,576	19,364	21,509	23,708	25,696	30,953	30,143	31,845	33,664	33,269	37,112	40,781
Low Price	- -	22.79	24.76	26.07	31.75	35.65	41.5	41.79	47.29	48.28	54.05	53.31	50.24	55.68	65.16
EV/Sales	- -	2.21	2.27	2.59	3	3.36	3.6	3.74	4.67	4.7	4.35	3.92	4.46	4.94	4.78
EV/EBITDA	- -	8.65	8.42	10.11	10.04	10.41	10.68	12.27	14.71	13.26	14.09	14.33	13.78	13.61	13.45
Price/Earnings	- -	16.49	15.56	20.66	19.27	21.09	28.89	21.34	26.18	22.54	14.09	22.63	19.44	20.05	20.36
Price/Earnings Average	- -	16.32	15.83	17.09	18.32	20.92	28.18	20.3	24.24	23.38	13.1	23.01	19.8	19.1	20.71
Price/Earnings High	- -	16.86	17.55	20.69	20.15	23.35	30.79	23.12	27.29	26.35	14.13	25.92	22.22	21.74	21.88
Price/Earnings Low	- -	15.55	14.52	14.81	16.76	17.98	25.26	18.01	19.74	18.27	11.59	18.78	16.87	16.75	18.82
Price/Book Value	- -	2	2.04	2.73	2.57	2.74	3.01	2.95	3.55	3.13	2.97	2.76	2.33	2.49	2.42
Price/Book Value Average	- -	1.98	2.08	2.26	2.44	2.72	2.94	2.81	3.29	3.25	2.76	2.8	2.37	2.37	2.46
Price/Book Value High	- -	2.04	2.31	2.73	2.69	3.04	3.21	3.2	3.7	3.66	2.98	3.16	2.66	2.7	2.6
Price/Book Value Low	- -	1.88	1.91	1.96	2.23	2.34	2.63	2.49	2.68	2.54	2.44	2.29	2.02	2.08	2.24
Price/Tangible Book Value	- -	2	2.04	2.73	2.57	2.74	3.01	2.95	3.55	3.13	2.97	2.76	2.33	2.49	2.42
Price/Tangible Book Value Average	- -	1.98	2.08	2.26	2.44	2.72	2.94	2.81	3.29	3.25	2.76	2.8	2.37	2.37	2.46
Price/Tangible Book Value High	- -	2.04	2.31	2.73	2.69	3.04	3.21	3.2	3.7	3.66	2.98	3.16	2.66	2.7	2.6
Price/Tangible Book Value Low	- -	1.88	1.91	1.96	2.23	2.34	2.63	2.49	2.68	2.54	2.44	2.29	2.02	2.08	2.24
Price/Sales	- -	1.01	1.07	1.37	1.56	1.82	2.02	2.03	2.68	2.64	2.59	2.18	2.28	2.65	2.53
Price/Sales Average	- -	1	1.09	1.14	1.48	1.8	1.97	1.93	2.48	2.74	2.41	2.21	2.33	2.52	2.57
Price/Sales High	- -	1.03	1.21	1.37	1.63	2.01	2.15	2.2	2.79	3.09	2.6	2.49	2.61	2.87	2.72
Price/Sales Low	- -	0.95	1	0.98	1.36	1.55	1.77	1.72	2.02	2.14	2.13	1.81	1.98	2.21	2.34
Price/Cash Flow	- -	5.07	4.95	6.65	6.14	7.14	7.79	8.21	9.92	13.3	10.44	21.89	7.38	8.4	9.66
Price/Cash Flow Average	- -	5.02	5.04	5.5	5.84	7.07	7.6	7.81	9.18	13.8	9.71	22.25	7.52	8	9.83
Price/Cash Flow High	- -	5.19	5.58	6.66	6.43	7.9	8.31	8.89	10.34	15.55	10.47	25.07	8.44	9.11	10.38
Price/Cash Flow Low	- -	4.79	4.62	4.77	5.34	6.08	6.82	6.93	7.48	10.78	8.59	18.16	6.41	7.02	8.93
Price/Free Cash Flow Average	- -	5.39	5.38	5.85	6.28	7.6	8.18	8.56	9.93	15.42	10.49	25.44	13.05	8.58	10.87
Price/Free Cash Flow High	- -	5.57	5.96	7.08	6.91	8.48	8.93	9.75	11.18	17.38	11.32	28.65	14.65	9.77	11.48
Price/Free Cash Flow Low	- -	5.14	4.93	5.07	5.75	6.53	7.33	7.59	8.08	12.05	9.28	20.76	11.12	7.53	9.88
EV/Sales Average	- -	2.2	2.29	2.35	2.92	3.35	3.55	3.64	4.47	4.8	4.16	3.95	4.5	4.81	4.82
EV/Sales High	- -	2.24	2.41	2.59	3.07	3.56	3.74	3.91	4.79	5.15	4.35	4.23	4.79	5.16	4.96
EV/Sales Low	- -	2.16	2.2	2.19	2.8	3.09	3.35	3.42	4.01	4.19	3.88	3.55	4.16	4.5	4.58
EV/EBITDA Average	- -	8.61	8.49	9.17	9.78	10.36	10.54	11.94	14.08	13.54	13.5	14.46	13.91	13.26	13.57
EV/EBITDA High	- -	8.74	8.93	10.12	10.29	11.01	11.08	12.83	15.07	14.54	14.12	15.48	14.79	14.23	13.98
EV/EBITDA Low	- -	8.42	8.15	8.57	9.36	9.57	9.93	11.22	12.63	11.83	12.6	12.97	12.84	12.41	12.91
EV/EBIT Average	- -	13.74	13.15	14.62	16.01	17.05	17.47	21.53	26.58	25.03	26.63	27.76	27.19	24.32	23.83
EV/EBIT High	- -	13.95	13.84	16.14	16.83	18.12	18.38	23.13	28.43	26.87	27.84	29.72	28.92	26.09	24.55
EV/EBIT Low	- -	13.44	12.63	13.67	15.32	15.76	16.46	20.23	23.83	21.86	24.84	24.9	25.11	22.76	22.67
Last Price	- -	24.16	26.54	36.36	36.51	41.81	47.46	49.53	62.73	59.55	65.71	64.25	57.91	66.63	70.5
High Price	- -	24.7	29.93	36.42	38.19	46.28	50.59	53.67	65.37	69.62	65.93	73.58	66.2	72.26	75.75
Enterprise Value Average	- -	13,782	15,023	16,847	18,865	21,411	23,379	25,016	29,634	30,784	30,514	33,977	33,582	36,171	41,149
Enterprise Value High	- -	13,988	15,800	18,592	19,830	22,756	24,588	26,872	31,703	33,053	31,910	36,382	35,711	38,795	42,390
Enterprise Value Low	- -	13,483	14,426	15,744	18,045	19,788	22,029	23,505	26,569	26,888	28,468	30,479	31,012	33,841	39,147

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	254	264	266	275	277	279	282	283	284	289	290	291	294	299	306
Diluted Weighted Avg Shares	263	269	272	275	276	279	281	283	284	286	290	291	294	299	306
Basic Weighted Avg Shares	251	261	265	271	276	278	280	282	283	285	289	291	294	299	306
Revenue per Share	25.93	23.99	24.78	26.49	23.39	23.02	23.51	24.36	23.41	22.52	25.36	29.51	25.35	25.15	27.87
EBITDA per Share	6.18	6.14	6.68	6.78	6.99	7.44	7.93	7.42	7.43	7.98	7.82	8.07	8.2	9.13	9.9
Operating Income per Share	4	3.85	4.31	4.25	4.27	4.52	4.78	4.12	3.94	4.32	3.97	4.2	4.19	4.98	5.64
Basic EPS, GAAP	1.65	1.47	1.71	1.76	1.89	1.98	1.64	2.32	2.4	2.64	4.66	2.84	2.98	3.32	3.46
Basic EPS from Cont Ops	1.65	1.45	1.71	1.77	1.9	1.99	1.65	2.34	2.24	2.44	2.52	2.78	2.74	3.17	3.27
Diluted EPS, GAAP	1.58	1.42	1.66	1.73	1.89	1.97	1.64	2.32	2.38	2.63	4.66	2.84	2.98	3.32	3.46
Diluted EPS from Cont Ops	1.58	1.4	1.67	1.74	1.9	1.98	1.65	2.33	2.23	2.42	2.51	2.78	2.74	3.17	3.27
Dividend per Share	0.84	0.97	1.03	1.09	1.17	1.25	1.35	1.44	1.54	1.64	1.76	1.87	1.97	2.1	2.16
Cash Flow per Share	4.66	4.76	5.36	5.46	5.94	5.86	6.09	6.03	6.33	4.48	6.29	2.94	7.84	7.93	7.29
Free Cash Flow per Basic Share	4.45	4.57	5.15	5.22	5.53	5.47	5.68	5.52	5.88	4.02	5.83	2.57	4.52	7.4	6.6
Cash & Equivalents per Share	0.63	0.35	0.65	0.75	0.96	0.84	0.65	0.54	0.49	0.11	1.56	0.56	0.77	0.34	1.66
Book Value per Share	11.92	12.09	12.98	13.34	14.21	15.23	15.77	16.78	17.68	19.02	22.11	23.31	24.86	26.8	29.11
Tangible Book Value per Share	11.92	12.09	12.98	13.34	14.21	15.23	15.77	16.78	17.68	19.02	22.11	23.31	24.86	26.8	29.11