United States Cellular Corporation Financial Ratios — USM

Profitability (USD)

	2010 Y	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
As of date	12/31/2010	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

Return on Common Equity (%)	6.29	7.6	4.56	6.06	-2.08	11.42	2.15	0.53	6.28	4.91	8.38	5.38	1.02	1.82	-1.33
Return on Assets (%)	2.34	2.87	1.72	2.15	-0.67	3.56	0.68	0.17	2.13	1.65	2.57	1.55	0.28	0.49	-0.37
Return on Capital (%)	4.98	5.97	3.26	4.96	- -	8.21	2.95	- -	5.56	4.29	5.74	4.68	1.5	2.15	- -
Return on Invested Capital (%)	3.2	3.94	2.91	-4.05	- -	1.29	0.58	- -	2.08	1.52	2.47	2.1	0.51	0.93	- -
Gross Margin (%)	61.43	60.37	57.71	55.03	49.58	54.65	53.86	53.65	54.9	55.64	55.59	53.71	52.72	55.76	56.76
EBITDA Margin (%)	18.75	19.63	18.07	12.22	8.68	17.59	16.77	17.35	19.91	20.69	21.7	21.08	18.95	20.74	21.49
Operating Margin (%)	5.08	6.42	4.4	-8.29	-6.88	2.53	1.28	1.54	3.78	3.23	4.78	4.63	2.16	3.94	3.85
Incremental Operating Margin (%)	383.78	40.27	-76.46	- -	- -	268.12	124.39	-9	116.88	-36.36	420	-2.35	-214.89	-24.33	6.62
Pretax Margin (%)	5.77	7.2	4.61	6.57	-1.52	10.02	2.06	-6.99	5.42	4.6	6.19	4.37	1.73	2.84	-0.58
Profit Margin (%)	3.26	4.03	2.49	3.57	-1.1	5.98	1.2	0.31	3.78	3.16	5.67	3.76	0.72	1.38	-1.03
Net Income to Common Margin (%)	3.26	4.03	2.49	3.57	-1.1	5.98	1.2	0.31	3.78	3.16	5.67	3.76	0.72	1.38	-1.03
Effective Tax Rate (%)	33.99	36.47	31.2	43.91	- -	38.86	40.24	- -	23.72	28.11	6.8	11.11	51.39	47.75	- -
Dvd Payout Ratio (%)	- -	- -	- -	323.66	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	6.29	7.6	4.56	-13.56	-2.08	11.42	2.15	0.53	6.28	4.91	8.38	5.38	1.02	1.82	-1.33

Credit (USD)

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	2010 Y	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
As of date	12/31/2010	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

Total Debt	868	880	879	878	1,127	1,640	1,629	1,640	1,624	2,480	3,482	3,749	4,176	4,030	3,822
ST Debt	- -	- -	- -	- -	- -	11	11	18	19	113	118	132	146	155	163
LT Debt	868	880	879	878	1,127	1,629	1,618	1,622	1,605	2,367	3,364	3,617	4,030	3,875	3,659
Total Debt/EBITDA	1.11	1.03	1.09	1.83	3.33	2.31	2.43	2.43	2.06	2.98	3.97	4.31	5.29	4.98	4.72
Net Debt/EBITDA	0.75	0.54	0.62	1.12	2.71	1.3	1.56	1.91	1.32	1.47	1.39	2.96	3.71	3.6	3.35
Total Debt/EBIT	4.09	3.16	4.49	-2.7	-4.2	16.08	31.94	27.33	10.83	19.08	18.04	19.63	46.4	26.17	26.36
Net Debt/EBIT	2.79	1.64	2.56	-1.65	-3.42	9.07	20.45	21.47	6.96	9.42	6.32	13.48	32.52	18.92	18.72
EBITDA to Interest Expense	12.72	12.99	18.97	10.9	5.93	8.24	5.92	5.97	6.81	7.56	7.82	4.97	4.85	4.13	4.43
EBITDA-CapEx/Interest Expense	3.2	0.87	-3.41	-5.81	-5.35	-1.84	1.53	0.19	2.31	-0.81	-2.8	-6.73	-2.44	0.37	1.38
EBIT to Interest Expense	3.45	4.25	4.62	-7.39	-4.7	1.19	0.45	0.53	1.29	1.18	1.72	1.09	0.55	0.79	0.79
Interest Expense	62	66	42	44	57	86	113	113	116	110	112	175	163	196	183
Common Equity/Total Assets	37.84	37.7	37.76	33.06	30.93	31.46	31.62	32.82	34.81	32.31	29.2	28.4	26.52	27.72	27.81
Long-Term Debt/Equity (%)	24.51	23.94	23.15	25.75	34.01	45.6	44.38	43.98	39.36	56.08	75.83	79.08	87.95	83.26	79.41
Long-Term Debt/Capital (%)	27.59	26.49	25.64	28.99	35.92	42.07	41.6	41.63	38.42	46.03	53.11	53.88	56.34	55.06	54.14
Long-Term Debt/Total Assets (%)	14.77	13.91	13.34	13.62	17.44	23.07	22.76	23.71	22.06	28.99	34.75	34.98	36.24	36.05	35.02
Total Debt/Equity (%)	24.52	23.95	23.16	25.75	34.01	45.91	44.68	44.47	39.82	58.75	78.49	81.96	91.14	86.59	82.94
Total Debt/Capital (%)	27.59	26.5	25.64	29	35.92	42.36	41.89	42.09	38.88	48.23	54.97	55.85	58.38	57.26	56.55
Total Debt/Total Assets (%)	14.77	13.91	13.34	13.62	17.44	23.23	22.91	23.97	22.33	30.38	35.97	36.25	37.56	37.49	36.58
Net Debt to Equity	16.69	12.41	13.19	15.72	27.62	25.9	28.61	34.92	25.6	29.02	27.5	56.3	63.88	62.61	58.92
Net Debt/Capital (%)	20.6	15.74	16.41	19.96	31.29	29.3	31.58	36.34	29.02	25.22	24.1	39.27	42.54	42.31	41.04
EBITDA	783	852	804	479	338	709	669	675	790	832	876	869	790	810	810
EBITDA-CapEx	197	57	-145	-255	-305	-158	173	21	268	-89	-314	-1,177	-397	72	253
Operating Income (Loss)	212	279	196	-325	-268	102	51	60	150	130	193	191	90	154	145

Liquidity (USD)

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	2010 Y	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
As of date	12/31/2010	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

Cash Ratio	0.65	0.76	0.63	0.39	0.25	0.96	0.82	0.55	0.86	0.38	1.46	0.17	0.23	0.17	0.16
Current Ratio	1.68	1.79	1.58	1.39	1.49	2.24	2.17	2.02	2.62	2.1	3.01	1.78	1.44	1.55	1.52
Quick Ratio	1.37	1.48	1.23	0.97	0.9	1.85	1.83	1.7	2.3	1.79	2.75	1.47	1.13	1.23	1.24
CFO/Avg Current Liab	1.27	1.44	1.22	0.33	0.18	0.69	0.68	0.65	1	1	1.53	0.9	0.79	0.83	0.99
Common Equity/Total Assets	37.84	37.7	37.76	33.06	30.93	31.46	31.62	32.82	34.81	32.31	29.2	28.4	26.52	27.72	27.81
Long-Term Debt/Equity (%)	24.51	23.94	23.15	25.75	34.01	45.6	44.38	43.98	39.36	56.08	75.83	79.08	87.95	83.26	79.41
Long-Term Debt/Capital (%)	27.59	26.49	25.64	28.99	35.92	42.07	41.6	41.63	38.42	46.03	53.11	53.88	56.34	55.06	54.14
Long-Term Debt/Total Assets (%)	14.77	13.91	13.34	13.62	17.44	23.07	22.76	23.71	22.06	28.99	34.75	34.98	36.24	36.05	35.02
Total Debt/Equity (%)	24.52	23.95	23.16	25.75	34.01	45.91	44.68	44.47	39.82	58.75	78.49	81.96	91.14	86.59	82.94
Total Debt/Capital (%)	27.59	26.5	25.64	29	35.92	42.36	41.89	42.09	38.88	48.23	54.97	55.85	58.38	57.26	56.55
Total Debt/Total Assets (%)	14.77	13.91	13.34	13.62	17.44	23.23	22.91	23.97	22.33	30.38	35.97	36.25	37.56	37.49	36.58
CFO/Total Liabilities	35.74	37.26	32.21	9.58	5.46	15.91	14.46	14.87	22.18	18.36	23.58	13.91	12.73	14.21	15.12
CFO/CapEx	1.42	1.24	0.95	0.4	0.27	0.64	1.01	0.72	1.36	0.79	1.04	0.39	0.7	1.17	1.59
Altman's Z-Score	3.09	2.82	2.46	2.02	1.97	2.33	2.33	2.34	2.65	2.06	1.81	1.81	1.58	1.84	2.04

Working Capital (USD)

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	2010 Y	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
As of date	12/31/2010	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

Accounts Receivable Turnover	11.34	12.23	12.89	9.6	8.34	7.51	6.3	5.43	4.71	4.4	4.4	4.36	4.25	4.14	4.18
Days Sales Outstanding	32.19	29.84	28.32	38.03	43.75	48.63	57.91	67.23	77.43	82.9	82.91	83.72	85.84	88.07	87.38
Inventory Turnover	12.17	14.38	13.31	8.94	7.77	8.79	12.83	13.07	12.78	11.74	11.64	11.96	9.08	7.51	8.62
Days Inventory Outstanding	30	25.38	27.43	40.81	46.97	41.54	28.45	27.94	28.56	31.1	31.35	30.51	40.19	48.58	42.32
Accounts Payable Turnover	5.61	6.11	6.22	5.15	5.59	5.88	6.27	5.9	5.92	6.01	5.28	5.35	5.97	5.7	6.81
Accounts Payable Turnover Days	65.1	59.7	58.69	70.89	65.27	62.1	58.24	61.85	61.68	60.7	69.12	68.19	61.16	64.08	53.62
Cash Conversion Cycle	-2.91	-4.48	-2.94	7.95	25.45	28.07	28.12	33.32	44.31	53.3	45.14	46.05	64.87	72.57	76.08
Inventory to Cash Days	2.2	4.46	0.89	-2.77	-3.22	7.09	29.46	39.29	48.86	51.8	51.56	53.21	45.66	39.49	45.06
Inventories	112	127	156	238	267	149	138	138	142	162	146	173	261	199	179
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	112	127	156	238	267	149	138	138	142	162	146	173	261	199	179

Enterprise Value (USD)

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	2010 Y	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
As of date	12/31/2010	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

Market Capitalization	3,689	3,176	2,558	3,512	3,354	3,438	3,716	3,199	4,469	3,116	2,639	2,711	1,772	3,531	5,394
- Cash & Cash Equivalents	277	424	378	342	212	715	586	352	580	285	1,271	156	273	150	144
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	54	57	62	19	12	11	12	11	21	24	25	27	28	28	31
+ Total Debt	868	880	879	878	1,127	1,640	1,629	1,640	1,624	2,480	3,482	3,749	4,176	4,030	3,822
Enterprise Value	4,188	3,562	3,020	4,016	4,281	4,374	4,771	4,448	5,517	5,335	4,872	6,331	5,703	7,439	9,103
Total Capital	3,146	3,323	3,428	3,028	3,137	3,872	3,889	3,896	4,177	5,142	6,334	6,713	7,153	7,038	6,759
Total Debt/Capital (%)	27.59	26.5	25.64	29	35.92	42.36	41.89	42.09	38.88	48.23	54.97	55.85	58.38	57.26	56.55
Total Debt / EV	0.21	0.25	0.29	0.22	0.26	0.37	0.34	0.37	0.29	0.46	0.71	0.59	0.73	0.54	0.42
EV/Sales	1	0.82	0.68	1.02	1.1	1.09	1.2	1.14	1.39	1.33	1.21	1.54	1.37	1.9	2.41
EV/EBITDA	5.35	4.18	3.75	8.39	12.67	6.17	7.13	6.59	6.98	6.41	5.56	7.29	7.22	9.18	11.24
EV/EBIT	19.74	12.77	15.43	- -	- -	42.88	93.55	74.13	36.78	41.04	25.25	33.15	63.37	48.3	62.78
EV/Cash Flow to Firm	4.79	3.46	3.25	12.73	19.69	7.2	8.39	9.61	6.92	6.64	3.63	6.61	6.26	7.68	7.92
EV/Free Cash Flow to Firm	2.87	1.95	1.61	3.83	4.98	2.97	4.48	3.98	4.18	3.09	1.92	2.11	2.72	4.36	5.34
Diluted Market Cap	3,706	3,193	2,576	3,543	3,354	3,464	3,716	3,236	4,521	3,188	2,670	2,742	1,793	3,614	5,394
Diluted Enterprise Value	4,351	3,707	3,139	4,098	4,281	4,400	4,771	4,535	5,586	5,407	4,906	6,362	5,724	7,522	9,103
EV per Share	48.63	41.97	35.68	47.83	50.84	51.92	56.13	52.32	64.16	62.03	56.66	73.61	67.1	87.52	105.85
TTM Sales	4,178	4,343	4,452	3,919	3,893	4,031	3,990	3,890	3,967	4,022	4,037	4,122	4,169	3,906	3,770
TTM EBITDA	783	852	804	479	338	709	669	675	790	832	876	869	790	810	810
TTM Operating Income	212	279	196	-325	-268	102	51	60	150	130	193	191	90	154	145
TTM Cash Flow to Firm	875	1,030	928	316	217	608	569	463	797	803	1,341	958	911	968	1,149
TTM Free Cash Flow to Firm	1,461	1,825	1,878	1,050	860	1,475	1,065	1,117	1,319	1,724	2,531	3,004	2,098	1,706	1,706

Multiples (USD)

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	2010 Y	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
As of date	12/31/2010	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

Price/Free Cash Flow	2.61	1.79	1.39	3.46	4.12	2.44	3.73	2.88	3.67	1.94	1.1	0.96	0.89	2.25	3.75
EV/EBIT	19.74	12.77	15.43	- -	- -	42.88	93.55	74.13	36.78	41.04	25.25	33.15	63.37	48.3	62.78
Enterprise Value	4,188	3,562	3,020	4,016	4,281	4,374	4,771	4,448	5,517	5,335	4,872	6,331	5,703	7,439	9,103
Low Price	33.84	35.58	33.16	32.25	31.78	34.1	32.72	32.29	32.06	30.74	23.91	28.53	19.22	13.79	32.01
EV/Sales	1	0.82	0.68	1.02	1.1	1.09	1.2	1.14	1.39	1.33	1.21	1.54	1.37	1.9	2.41
EV/EBITDA	5.35	4.18	3.75	8.39	12.67	6.17	7.13	6.59	6.98	6.41	5.56	7.29	7.22	9.18	11.24
Price/Earnings	27.11	18.15	23.05	25.08	- -	14.27	77.42	266.55	29.8	24.53	11.53	17.49	59.08	65.39	- -
Price/Earnings Average	23.35	18.9	25.86	22.66	-76.82	13.24	68.65	271.96	23.89	29.45	11.9	18.72	79.8	45.35	-110.01
Price/Earnings High	31.8	25.41	36.83	29.37	-87.86	15.2	81.23	325.9	33.51	40.45	14.18	22.17	93.5	75.47	-150.63
Price/Earnings Low	21.42	17.25	25.29	19.34	-62.25	11.92	57.94	228.72	18.38	20.82	8.98	15.83	54.46	21.71	-70.59
Price/Book Value	1.66	1.33	1.03	1.65	1.68	1.55	1.65	1.42	1.77	1.18	0.93	0.92	0.6	1.18	1.86
Price/Book Value Average	1.43	1.39	1.15	1.49	1.65	1.44	1.47	1.45	1.42	1.42	0.96	0.99	0.81	0.82	1.48
Price/Book Value High	1.95	1.86	1.64	1.93	1.89	1.65	1.73	1.74	1.98	1.95	1.15	1.17	0.95	1.37	2.02
Price/Book Value Low	1.31	1.27	1.13	1.27	1.34	1.29	1.24	1.22	1.09	1	0.73	0.84	0.55	0.39	0.95
Price/Tangible Book Value	2.32	1.86	1.33	2.17	2.24	2.51	2.67	2.18	2.36	1.78	1.46	5.58	-16.41	-90.54	186
Price/Tangible Book Value Average	1.99	1.93	1.5	1.96	2.2	2.33	2.37	2.23	1.89	2.14	1.51	5.97	-22.17	-62.79	147.94
Price/Tangible Book Value High	2.72	2.6	2.13	2.54	2.52	2.68	2.8	2.67	2.66	2.94	1.8	7.07	-25.97	-104.49	202.57
Price/Tangible Book Value Low	1.83	1.76	1.46	1.67	1.78	2.1	2	1.87	1.46	1.51	1.14	5.05	-15.13	-30.06	94.93
Price/Sales	0.88	0.73	0.57	0.9	0.86	0.85	0.93	0.82	1.13	0.77	0.65	0.66	0.43	0.9	1.43
Price/Sales Average	0.76	0.76	0.64	0.81	0.85	0.79	0.83	0.84	0.9	0.93	0.67	0.7	0.57	0.63	1.14
Price/Sales High	1.04	1.02	0.92	1.05	0.97	0.91	0.98	1.01	1.27	1.28	0.8	0.83	0.67	1.04	1.56
Price/Sales Low	0.7	0.7	0.63	0.69	0.69	0.71	0.7	0.71	0.7	0.66	0.51	0.6	0.39	0.3	0.73
Price/Cash Flow	4.42	3.22	2.84	12.07	19.5	6.19	7.42	6.82	6.3	4.3	2.13	3.38	2.13	4.08	6.11
Price/Cash Flow Average	3.81	3.35	3.19	10.91	19.2	5.75	6.58	6.96	5.05	5.17	2.2	3.62	2.88	2.83	4.86
Price/Cash Flow High	5.19	4.5	4.55	14.14	21.96	6.6	7.78	8.34	7.09	7.1	2.62	4.28	3.37	4.71	6.65
Price/Cash Flow Low	3.49	3.06	3.12	9.31	15.56	5.18	5.55	5.85	3.89	3.65	1.66	3.06	1.96	1.35	3.12
Price/Free Cash Flow Average	2.25	1.87	1.56	3.12	4.05	2.26	3.31	2.94	2.95	2.33	1.14	1.03	1.2	1.56	2.98
Price/Free Cash Flow High	3.06	2.51	2.23	4.05	4.64	2.6	3.91	3.52	4.13	3.2	1.35	1.22	1.41	2.6	4.08
Price/Free Cash Flow Low	2.06	1.7	1.53	2.67	3.28	2.04	2.79	2.47	2.27	1.64	0.86	0.87	0.82	0.75	1.91
EV/Sales Average	0.91	0.88	0.77	0.95	1.09	1.02	1.09	1.17	1.17	1.48	1.23	1.58	1.52	1.63	2.12
EV/Sales High	1.19	1.14	1.04	1.19	1.21	1.14	1.24	1.34	1.54	1.83	1.36	1.71	1.62	2.04	2.54
EV/Sales Low	0.85	0.81	0.76	0.83	0.93	0.94	0.96	1.04	0.96	1.21	1.06	1.47	1.33	1.3	1.71
EV/EBITDA Average	4.88	4.48	4.27	7.78	12.52	5.82	6.5	6.76	5.88	7.16	5.66	7.5	8.01	7.85	9.88
EV/EBITDA High	6.35	5.82	5.78	9.74	13.92	6.49	7.41	7.72	7.71	8.84	6.26	8.12	8.53	9.86	11.83
EV/EBITDA Low	4.55	4.14	4.19	6.81	10.66	5.37	5.73	5.99	4.84	5.84	4.9	6.99	7.04	6.27	7.98
EV/EBIT Average	18.01	13.7	17.54	-11.48	-15.78	40.45	85.3	76.04	30.99	45.84	25.7	34.14	70.28	41.28	55.17
EV/EBIT High	23.43	17.79	23.76	-14.37	-17.56	45.1	97.14	86.83	40.61	56.59	28.41	36.95	74.84	51.84	66.09
EV/EBIT Low	16.78	12.67	17.21	-10.05	-13.45	37.34	75.22	67.39	25.48	37.4	22.24	31.8	61.83	32.99	44.56
Last Price	42.83	37.42	30.23	41.82	39.83	40.81	43.72	37.63	51.97	36.23	30.69	31.52	20.85	41.54	62.72
High Price	50.24	52.41	48.3	48.98	44.86	43.49	45.87	46.01	58.44	59.74	37.75	39.96	33	47.94	68.31
Enterprise Value Average	3,822	3,822	3,433	3,728	4,230	4,126	4,350	4,562	4,649	5,959	4,960	6,522	6,325	6,357	7,999
Enterprise Value High	4,973	4,962	4,651	4,668	4,705	4,600	4,954	5,210	6,091	7,357	5,482	7,057	6,736	7,983	9,584
Enterprise Value Low	3,560	3,533	3,369	3,263	3,604	3,809	3,836	4,044	3,822	4,863	4,292	6,074	5,565	5,080	6,462

Shares Outstanding	86	85	84	84	84	84	85	85	86	86	86	86	85	85	85
Diluted Weighted Avg Shares	87	85	85	85	84	85	85	86	87	88	87	87	86	87	86
Basic Weighted Avg Shares	86	85	85	84	84	84	85	85	86	86	86	86	85	85	86
Revenue per Share	48.51	51.17	52.6	46.67	46.23	47.85	46.94	45.76	46.13	46.77	46.94	47.93	49.05	45.95	43.84
EBITDA per Share	9.09	10.04	9.5	5.7	4.01	8.42	7.87	7.94	9.19	9.67	10.19	10.1	9.29	9.53	9.42
Operating Income per Share	2.46	3.29	2.31	-3.87	-3.18	1.21	0.6	0.71	1.74	1.51	2.24	2.22	1.06	1.81	1.69
Basic EPS, GAAP	1.58	2.06	1.31	1.67	-0.51	2.86	0.56	0.14	1.74	1.48	2.66	1.8	0.35	0.64	-0.45
Basic EPS from Cont Ops	1.85	2.34	1.67	1.72	-0.56	2.93	0.58	0.18	1.91	1.55	2.71	1.86	0.41	0.68	-0.37
Diluted EPS, GAAP	1.57	2.05	1.3	1.65	-0.51	2.84	0.56	0.14	1.72	1.44	2.63	1.78	0.35	0.62	-0.45
Diluted EPS from Cont Ops	1.84	2.33	1.66	1.71	-0.56	2.91	0.58	0.17	1.89	1.51	2.68	1.84	0.41	0.67	-0.37
Dividend per Share	- -	- -	- -	5.74	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	9.69	11.64	10.62	3.46	2.04	6.59	5.89	5.52	8.24	8.42	14.38	9.33	9.79	10.19	10.27
Free Cash Flow per Basic Share	2.88	2.27	-0.59	-5.28	-5.59	-3.7	0.06	-2.18	2.17	-2.29	0.55	-14.47	-4.18	1.51	3.79
Cash & Equivalents per Share	4.92	6.49	5.66	4.67	2.51	8.49	6.89	4.73	6.94	3.31	14.81	1.81	3.21	1.76	1.67
Book Value per Share	25.82	28.1	29.38	25.38	23.73	26.36	26.45	26.41	29.44	30.67	32.87	34.15	34.69	35.06	33.79
Tangible Book Value per Share	18.5	20.16	22.65	19.31	17.81	16.24	16.35	17.24	22	20.35	21.01	5.65	-1.27	-0.46	0.34

United States Cellular Corporation

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)