U.S. Bancorp Depositary Shares, Financial Ratios — USB-PS

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 (%)	16.4	16.5	15.21	13.81	12.66	11.61	11.41	12.03	10.81	7.31	11.48	7.83	6.96	7.88	9.18
Return on Assets (%)	1.5	1.63	1.63	1.53	1.43	1.36	1.37	1.53	1.44	0.95	1.41	0.93	0.81	0.94	1.1
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	2.99	2.8	2.68	2.51	2.41	2.24	2.16	2.07	2.19	2.27	2.19	2.32	3.63	3.44	3.07
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	35.11	38.51	40.07	40.1	40.21	38.68	34.65	38.53	37.56	26.05	44.74	30.19	24.51	28.93	33.35
Profit Margin (%)	25.8	28.14	30.12	29.34	29.44	28.1	28.66	31.51	30.21	21.35	35.05	24.09	19.38	23.04	26.52
Net Income to Common Margin (%)	25.12	26.96	28.83	28.13	28.2	26.76	27.43	30.26	28.89	20.04	33.71	22.86	18.13	21.76	25.37
Effective Tax Rate (%)	27.77	28.94	26.17	26.1	26.11	26.66	16.82	17.91	19.18	17.62	21.45	20.04	20.5	19.98	20.18
Dvd Payout Ratio (%)	17.62	25.77	29.38	30.16	30.87	31.4	32.3	30.33	36.59	54.13	33.54	50.03	57.64	51.54	43.51
Sustainable Growth Rate (%)	13.51	12.25	10.74	9.64	8.75	7.97	7.72	8.38	6.86	3.35	7.63	3.92	2.95	3.82	5.18

Credit (USD)

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	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	54,399	47,480	45,006	60,319	58,216	46,038	47,855	52,439	61,897	50,856	41,718	69,388	62,935	65,626	68,413
ST Debt	22,446	21,964	24,957	28,059	26,138	12,715	15,596	11,099	21,730	9,559	9,593	29,559	11,455	7,624	7,649
LT Debt	31,953	25,516	20,049	32,260	32,078	33,323	32,259	41,340	40,167	41,297	32,125	39,829	51,480	58,002	60,764
Total Debt/EBITDA	96.28	84.63	86.55	120.4	121.03	97.95	102.25	112.29	123.3	96.5	83.94	123.91	61.82	69.89	78.19
Net Debt/EBITDA	65.09	61.29	68.84	97.54	97.86	64.54	60.58	66.35	78.67	-22.25	25.78	28.3	1.71	9.72	24.6
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	9.06	9.82	10.63	10.57	11	11.25	11.72	12.64	12.76	11.59	12.07	10.66	11.16	11.33	11.69
Long-Term Debt/Equity (%)	91.37	63.37	47.96	73.04	68.52	69.52	64.95	80.03	76.53	76.87	58	77.74	92.31	98.24	92.56
Long-Term Debt/Capital (%)	35.98	28.91	22.49	29.78	28.95	32.56	29.85	34.99	30.49	33.94	27.28	26.81	35.69	38.72	38.8
Long-Term Debt/Total Assets (%)	9.39	7.21	5.51	8.01	7.6	7.47	6.98	8.85	8.11	7.46	5.6	5.9	7.76	8.55	8.78
Total Debt/Equity (%)	155.55	117.91	107.65	136.57	124.35	96.05	96.35	101.51	117.94	94.66	75.32	135.44	112.85	111.16	104.21
Total Debt/Capital (%)	61.26	53.8	50.49	55.69	52.54	44.98	44.28	44.39	46.99	41.8	35.42	46.7	43.63	43.81	43.68
Total Debt/Total Assets (%)	15.99	13.42	12.36	14.99	13.8	10.32	10.36	11.22	12.49	9.18	7.28	10.28	9.49	9.67	9.88
Net Debt to Equity	105.17	85.39	85.63	110.64	100.54	63.28	57.08	59.98	75.25	-21.82	23.13	30.93	3.13	15.45	32.78
Net Debt/Capital (%)	49.14	42.98	44.38	50.04	47.23	35.01	32.01	32.05	36.13	-19.84	14.42	16.67	2.1	9.78	19.62
EBITDA	565	561	520	501	481	470	468	467	502	527	497	560	1,018	939	875
EBITDA-CapEx	565	561	520	501	481	470	468	467	502	527	497	560	1,018	939	875
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	9.06	9.82	10.63	10.57	11	11.25	11.72	12.64	12.76	11.59	12.07	10.66	11.16	11.33	11.69
Long-Term Debt/Equity (%)	91.37	63.37	47.96	73.04	68.52	69.52	64.95	80.03	76.53	76.87	58	77.74	92.31	98.24	92.56
Long-Term Debt/Capital (%)	35.98	28.91	22.49	29.78	28.95	32.56	29.85	34.99	30.49	33.94	27.28	26.81	35.69	38.72	38.8
Long-Term Debt/Total Assets (%)	9.39	7.21	5.51	8.01	7.6	7.47	6.98	8.85	8.11	7.46	5.6	5.9	7.76	8.55	8.78
Total Debt/Equity (%)	155.55	117.91	107.65	136.57	124.35	96.05	96.35	101.51	117.94	94.66	75.32	135.44	112.85	111.16	104.21
Total Debt/Capital (%)	61.26	53.8	50.49	55.69	52.54	44.98	44.28	44.39	46.99	41.8	35.42	46.7	43.63	43.81	43.68
Total Debt/Total Assets (%)	15.99	13.42	12.36	14.99	13.8	10.32	10.36	11.22	12.49	9.18	7.28	10.28	9.49	9.67	9.88
CFO/Total Liabilities	3.22	2.54	3.55	1.49	2.34	1.34	1.57	2.54	1.1	0.74	1.91	3.39	1.38	1.83	1.27
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.19	0.2	0.21	0.2	0.21	0.21	0.22	0.23	0.23	0.21	0.21	0.19	0.2	0.2	0.21

Working Capital (USD)

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	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

- -

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)

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	13,962	8,252	8,477	10,654	11,147	15,705	19,505	21,453	22,405	62,580	28,905	53,542	61,192	56,502	46,890
+ Preferred Equity and Hybrid Capital	2,606	4,769	4,756	4,756	5,501	5,501	5,419	5,984	5,984	5,983	6,371	6,808	6,808	6,808	6,808
+ Minority/Non Controlling Interest	993	1,269	694	689	686	635	626	628	630	630	469	466	465	462	458
+ Total Debt	54,399	47,480	45,006	60,319	58,216	46,038	47,855	52,439	61,897	50,856	41,718	69,388	62,935	65,626	68,413
Enterprise Value	-1,070	7,169	2,150	-629	-7,723	-29,060	-33,053	-26,460	-76,238	-141,549	-112,753	-48,932	-60,352	-69,278	-62,052
Total Capital	88,804	88,259	89,144	108,315	110,801	102,346	108,063	118,137	131,718	121,678	117,780	148,584	144,255	149,780	156,606
Total Debt/Capital (%)	61.26	53.8	50.49	55.69	52.54	44.98	44.28	44.39	46.99	41.8	35.42	46.7	43.63	43.81	43.68
Total Debt / EV	-50.84	6.62	20.93	-95.9	-7.54	-1.58	-1.45	-1.98	-0.81	-0.36	-0.37	-1.42	-1.04	-0.95	-1.1
EV/Sales	- -	0.36	0.11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	12.78	4.13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	0.9	0.19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	0.9	0.19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	44,036	45,266	41,979	55,110	53,256	36,469	34,395	37,598	46,106	-5,111	19,653	23,120	9,016	16,394	28,789
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	18,883	20,064	19,378	19,939	19,969	20,956	21,697	22,521	22,883	23,226	22,721	24,184	28,013	27,335	28,540
TTM EBITDA	565	561	520	501	481	470	468	467	502	527	497	560	1,018	939	875
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	9,820	7,958	11,446	5,332	8,782	5,336	6,472	10,564	4,889	3,716	9,870	21,119	8,393	11,350	7,970
TTM Free Cash Flow to Firm	9,820	7,958	11,446	5,332	8,782	5,336	6,472	10,564	4,889	3,716	9,870	21,119	8,393	11,350	7,970

Multiples (USD)

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	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	-1,070	7,169	2,150	-629	-7,723	-29,060	-33,053	-26,460	-76,238	-141,549	-112,753	-48,932	-60,352	-69,278	-62,052
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.06	16.01	18.9	18.04
EV/Sales	- -	0.36	0.11	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA	- -	12.78	4.13	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	2.33	2.26	2.17	2.76	2.67	1.74	1.59	1.67	2.01	- -	0.86	0.96	0.32	0.6	1.01
EV/Sales High	2.33	2.26	2.17	2.76	2.67	1.74	1.59	1.67	2.01	- -	0.86	0.96	0.32	0.6	1.01
EV/Sales Low	2.33	2.26	2.17	2.76	2.67	1.74	1.59	1.67	2.01	- -	0.86	0.96	0.32	0.6	1.01
EV/EBITDA Average	77.94	80.69	80.73	110	110.72	77.59	73.49	80.51	91.84	-9.7	39.54	41.29	8.86	17.46	32.9
EV/EBITDA High	77.94	80.69	80.73	110	110.72	77.59	73.49	80.51	91.84	-9.7	39.54	41.29	8.86	17.46	32.9
EV/EBITDA Low	77.94	80.69	80.73	110	110.72	77.59	73.49	80.51	91.84	-9.7	39.54	41.29	8.86	17.46	32.9
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	18.33	19.53	20.14	18.16
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	24.87	21.86	22.97	21.7
Enterprise Value Average	44,036	45,266	41,979	55,110	53,256	36,469	34,395	37,598	46,106	-5,111	19,653	23,120	9,016	16,394	28,789
Enterprise Value High	44,036	45,266	41,979	55,110	53,256	36,469	34,395	37,598	46,106	-5,111	19,653	23,120	9,016	16,394	28,789
Enterprise Value Low	44,036	45,266	41,979	55,110	53,256	36,469	34,395	37,598	46,106	-5,111	19,653	23,120	9,016	16,394	28,789

Shares Outstanding	1,910	1,869	1,825	1,786	1,745	1,697	1,656	1,608	1,534	1,507	1,484	1,531	1,558	1,560	1,555
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

U.S. Bancorp Depositary Shares,

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)