Hancock Whitney Corporation Financial Ratios — HH1 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 (%)	4.76	6.3	6.7	7.18	5.38	5.82	7.69	10.85	10	-1.31	13.03	14.95	10.99	11.62	11.32
Return on Assets (%)	0.55	0.77	0.85	0.88	0.6	0.64	0.84	1.17	1.11	-0.14	1.32	1.46	1.11	1.3	1.38
Return on Capital (%)	3.31	4.18	4.7	4.71	3.16	3.43	4.65	6.61	5.72	- -	8.19	9.3	7.21	8.85	8.92
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	13.34	20.57	23.23	27.07	19.55	20.59	29.3	34.45	32.43	-9.85	43.83	47.82	35.86	39.91	40.58
Profit Margin (%)	10.8	15.81	17.58	19.64	15.14	16.44	20.49	29.19	27.03	-3.57	35.74	38.02	28.73	32.04	32.21
Net Income to Common Margin (%)	10.8	15.81	17.58	19.64	15.14	16.44	20.49	29.19	27.03	-3.57	35.74	38.02	28.73	32.04	32.21
Effective Tax Rate (%)	19.05	23.11	24.33	27.44	22.56	20.13	30.09	15.27	16.64	- -	18.46	20.5	19.9	19.71	20.63
Dvd Payout Ratio (%)	92	54.49	49.71	45.75	58.58	51.27	38.61	27.44	28.98	-211.64	20.71	18.02	26.67	28.39	31.64
Sustainable Growth Rate (%)	0.38	2.86	3.37	3.89	2.23	2.83	4.72	7.88	7.1	-4.08	10.33	12.25	8.06	8.32	7.74

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	1,398	1,036	1,044	1,526	1,914	1,662	2,009	1,814	3,076	2,176	2,031	2,230	1,517	967	1,338
ST Debt	1,044	639	658	1,152	1,424	1,225	1,704	1,589	2,715	1,668	1,665	1,871	1,155	639	1,017
LT Debt	354	397	386	374	490	436	306	225	361	509	366	358	362	328	321
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	11.97	12.6	12.76	11.92	10.57	11.34	10.55	10.91	11.33	10.22	10.05	9.5	10.69	11.77	12.57
Long-Term Debt/Equity (%)	14.95	16.17	15.91	15.14	20.31	16.04	10.59	7.3	10.42	14.8	9.98	10.73	9.52	7.96	7.2
Long-Term Debt/Capital (%)	9.4	11.37	11.12	9.36	11.33	9.96	6.24	4.6	5.52	9.06	6.42	6.43	6.8	6.44	5.53
Long-Term Debt/Total Assets (%)	1.79	2.04	2.03	1.8	2.15	1.82	1.12	0.8	1.18	1.51	1	1.02	1.02	0.94	0.9
Total Debt/Equity (%)	59.07	42.22	43.04	61.72	79.31	61.1	69.65	58.87	88.71	63.29	55.35	66.71	39.88	23.44	30
Total Debt/Capital (%)	37.14	29.69	30.09	38.16	44.23	37.93	41.06	37.06	47.01	38.76	35.63	40.01	28.51	18.99	23.08
Total Debt/Total Assets (%)	7.07	5.32	5.49	7.35	8.38	6.93	7.35	6.42	10.05	6.47	5.56	6.34	4.26	2.76	3.77
Net Debt to Equity	-9.46	-37.16	17.65	14.88	43.31	44.55	53.04	42.84	69.39	5.41	-63.27	36.66	5.34	-16.1	11.7
Net Debt/Capital (%)	-10.44	-59.15	15	12.95	30.22	30.82	34.66	29.99	40.09	4.96	-157.93	26.16	4.92	-18.56	10.22
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	11.97	12.6	12.76	11.92	10.57	11.34	10.55	10.91	11.33	10.22	10.05	9.5	10.69	11.77	12.57
Long-Term Debt/Equity (%)	14.95	16.17	15.91	15.14	20.31	16.04	10.59	7.3	10.42	14.8	9.98	10.73	9.52	7.96	7.2
Long-Term Debt/Capital (%)	9.4	11.37	11.12	9.36	11.33	9.96	6.24	4.6	5.52	9.06	6.42	6.43	6.8	6.44	5.53
Long-Term Debt/Total Assets (%)	1.79	2.04	2.03	1.8	2.15	1.82	1.12	0.8	1.18	1.51	1	1.02	1.02	0.94	0.9
Total Debt/Equity (%)	59.07	42.22	43.04	61.72	79.31	61.1	69.65	58.87	88.71	63.29	55.35	66.71	39.88	23.44	30
Total Debt/Capital (%)	37.14	29.69	30.09	38.16	44.23	37.93	41.06	37.06	47.01	38.76	35.63	40.01	28.51	18.99	23.08
Total Debt/Total Assets (%)	7.07	5.32	5.49	7.35	8.38	6.93	7.35	6.42	10.05	6.47	5.56	6.34	4.26	2.76	3.77
CFO/Total Liabilities	1.57	2.6	2.86	1.93	1.15	1.62	1.68	1.79	1.3	1.18	1.78	2.64	1.56	2.02	1.75
CFO/CapEx	3.74	- -	- -	17.23	9.9	17.85	20.25	8.87	8.24	9.38	24.88	28.89	19.79	61.13	28.94
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	16.9	19.27	20.97	19.78	17.1	15.14	14.22	13.14	13.55	12.91	12.88	12.05	9.46	9.57	10.71
Days Sales Outstanding	21.6	18.94	17.4	18.45	21.35	24.11	25.67	27.78	26.93	28.28	28.33	30.29	38.6	38.12	34.07
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,316
- Cash & Cash Equivalents	1,622	1,947	616	1,158	869	450	479	494	542	1,860	4,231	888	1,188	1,514	695
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	1,398	1,036	1,044	1,526	1,914	1,662	2,009	1,814	3,076	2,176	2,031	2,230	1,517	967	1,338
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,786
Total Capital	3,766	3,489	3,469	3,998	4,327	4,381	4,894	4,895	6,544	5,615	5,702	5,572	5,320	5,095	5,798
Total Debt/Capital (%)	37.14	29.69	30.09	38.16	44.23	37.93	41.06	37.06	47.01	38.76	35.63	40.01	28.51	18.99	23.08
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.23
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.83
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.68
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.06
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,521
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,991
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	70.34
TTM Sales	711	960	929	895	868	908	1,053	1,109	1,211	1,267	1,296	1,378	1,367	1,438	1,509
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	273	443	474	352	236	344	411	449	352	- -	586	842	495	626	542
TTM Free Cash Flow to Firm	200	443	474	332	212	325	391	399	309	- -	562	813	470	616	523

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.56
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,786
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	53.06
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.83
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.34
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.51
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.66
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.31
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.19
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.1
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.23
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.98
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.53
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.42
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.58
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.26
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.65
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.39
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.76
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.17
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.43
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.46
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.35
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.79
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	10.86
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	8.67
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.58
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.93
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.2
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	64.62
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	66.46
Enterprise Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,398
Enterprise Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	5,937
Enterprise Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	4,835

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	85	85	82	80	77	84	85	86	88	87	87	86	86	86	82
Diluted Weighted Avg Shares	66	86	83	84	80	80	87	86	87	87	89	87	87	87	85
Basic Weighted Avg Shares	66	85	83	84	80	80	87	85	87	87	89	87	87	87	85
Revenue per Share	10.84	11.32	11.19	10.69	10.83	11.37	12.16	12.98	14	14.58	14.63	15.78	15.7	16.54	17.7
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.17	1.79	1.97	2.1	1.64	1.87	2.49	3.79	3.78	-0.52	5.23	6	4.51	5.3	5.7
Basic EPS from Cont Ops	1.17	1.79	1.97	2.1	1.64	1.87	2.49	3.79	3.78	-0.52	5.23	6	4.51	5.3	5.7
Diluted EPS, GAAP	1.16	1.77	1.96	2.1	1.64	1.87	2.49	3.79	3.78	-0.52	5.23	6	4.51	5.3	5.69
Diluted EPS from Cont Ops	1.16	1.77	1.96	2.1	1.64	1.87	2.49	3.79	3.78	-0.52	5.23	6	4.51	5.3	5.69
Dividend per Share	1.08	0.98	0.98	0.96	0.96	0.96	0.96	1.04	1.1	1.1	1.08	1.08	1.2	1.5	1.8
Cash Flow per Share	4.16	5.23	5.7	4.21	2.94	4.31	4.75	5.26	4.07	4.09	6.61	9.64	5.69	7.2	6.35
Free Cash Flow per Basic Share	3.05	5.23	5.7	3.97	2.64	4.07	4.51	4.66	3.57	3.65	6.35	9.31	5.4	7.08	6.13
Cash & Equivalents per Share	72.24	47.1	24.78	35.04	38.22	35.22	39.79	37.19	59.62	90.62	129.32	74.98	70.68	77.51	10.55
Book Value per Share	27.95	28.91	29.49	30.74	31.14	32.29	33.86	35.98	39.62	39.65	42.31	38.89	44.05	47.93	54.22
Tangible Book Value per Share	17.77	19.27	19.94	21.37	21.74	23.87	24.05	25.62	28.63	28.79	31.64	28.29	33.63	37.58	42.16