Mastercard Incorporated Financial Ratios — M4I 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 (%)	34.43	43.16	43.27	50.68	59.42	69.48	70.39	107.87	143.83	104.38	126.79	145.92	169.27	191.95	210.49
Return on Assets (%)	19.52	23.83	23.34	24.46	24.12	23.24	19.57	25.37	30.01	20.41	24.38	26	27.58	28.44	29.28
Return on Capital (%)	34.71	43.32	43.34	46.18	43.69	40.88	36.67	52.69	63.06	39.9	44.69	49.52	54.17	56.6	60.4
Return on Invested Capital (%)	33.68	42.55	42.68	45.42	43.59	40.41	35.79	51.13	60.1	38.99	41.4	49.05	52.45	54.39	57.61
Gross Margin (%)	78.36	78.83	79.08	78.14	78.22	79.35	78.5	78.5	79.05	75.25	76.23	76.33	76.01	76.31	77.89
EBITDA Margin (%)	43.3	56.38	57.28	57.48	56.32	56.92	56.49	51.78	60.33	56.6	57.23	58.52	59	58.5	61.11
Operating Margin (%)	51.68	53.9	55.34	53.77	52.31	54.86	53.96	56.01	57.43	53.35	54.16	57.21	58.29	57.96	59.51
Incremental Operating Margin (%)	60.85	75.92	66.88	42.16	- -	77.1	48.29	66.49	68.39	96.9	57.61	74.41	66.69	55.29	68.92
Pretax Margin (%)	40.93	53.21	54.14	53.8	51.29	52.39	52.19	48.19	57.64	50.72	54.58	52.76	54.34	54.16	56.66
Profit Margin (%)	28.39	37.33	37.49	38.31	39.39	37.67	31.33	39.19	48.08	41.9	46	44.66	44.61	45.71	45.65
Net Income to Common Margin (%)	28.39	37.33	37.49	38.31	39.39	37.67	31.33	39.19	48.08	41.9	46	44.66	44.61	45.71	45.65
Effective Tax Rate (%)	30.64	29.85	30.76	28.79	23.19	28.11	39.97	18.67	16.58	17.38	15.72	15.36	17.92	15.6	19.43
Dvd Payout Ratio (%)	4.04	4.79	8.18	14.24	19.09	20.62	24.06	17.82	16.57	25.04	20.04	19.16	19.28	19.02	18.41
Sustainable Growth Rate (%)	33.03	41.09	39.73	43.46	48.07	55.15	53.45	88.65	120	78.25	101.38	117.96	136.64	155.45	171.73

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	- -	- -	- -	1,494	3,268	5,180	5,424	6,334	8,527	12,672	13,901	14,023	15,681	18,226	19,000
ST Debt	- -	- -	- -	- -	- -	- -	- -	500	- -	649	792	274	1,337	750	749
LT Debt	- -	- -	- -	1,494	3,268	5,180	5,424	5,834	8,527	12,023	13,109	13,749	14,344	17,476	18,251
Total Debt/EBITDA	- -	- -	- -	0.28	0.6	0.84	0.77	0.82	0.84	1.46	1.29	1.08	1.06	1.11	0.95
Net Debt/EBITDA	-1.28	-0.49	-0.76	-0.67	-0.46	-0.25	-0.07	-0.04	0.15	0.3	0.6	0.54	0.48	0.59	0.42
Total Debt/EBIT	- -	- -	- -	0.29	0.64	0.9	0.82	0.87	0.88	1.57	1.38	1.14	1.12	1.17	1.01
Net Debt/EBIT	-1.38	-0.52	-0.8	-0.71	-0.49	-0.27	-0.08	-0.05	0.16	0.32	0.64	0.57	0.51	0.63	0.45
EBITDA to Interest Expense	116.28	208.35	340.07	113.06	89.25	64.57	45.84	41.62	45.47	22.79	25.08	27.63	25.75	25.51	27.76
EBITDA-CapEx/Interest Expense	109.2	203.55	329	109.42	86.34	62.31	43.89	39.84	43.59	21.9	24.13	26.69	25.11	24.78	27.08
EBIT to Interest Expense	138.8	199.2	328.57	105.75	82.9	62.23	43.79	45.02	43.29	21.48	23.73	27.01	25.44	25.27	27.03
Interest Expense	25	20	14	48	61	95	154	186	224	380	431	471	575	646	722
Common Equity/Total Assets	54.88	55.5	52.55	44.3	37.1	30.29	25.64	21.7	20.16	19.03	19.41	16.26	16.32	13.49	14.29
Long-Term Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	106.29	142.33	184.49	176.86	215.6	205	268.24	235.62
Long-Term Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	49.34	58.73	62.66	61.51	67.4	63.25	70.64	68.24
Long-Term Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	23.47	29.17	35.8	34.8	35.51	33.79	36.35	33.7
Total Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	115.39	142.33	194.45	187.55	219.9	224.11	279.75	245.29
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	25.48	29.17	37.73	36.9	36.21	36.94	37.91	35.08
Net Debt to Equity	-63.54	-29.61	-48.02	-53.39	-40.89	-27.11	-9.14	-6.34	25.69	39.27	87.43	110	101.37	150.18	108.88
Net Debt/Capital (%)	-174.24	-42.08	-92.38	-114.52	-69.19	-37.2	-10.06	-6.77	20.44	28.2	46.65	52.38	50.34	60.03	52.13
EBITDA	2,907	4,167	4,761	5,427	5,444	6,134	7,059	7,741	10,186	8,661	10,808	13,014	14,807	16,479	20,040
EBITDA-CapEx	2,730	4,071	4,606	5,252	5,267	5,919	6,759	7,411	9,764	8,322	10,401	12,572	14,436	16,005	19,551
Operating Income (Loss)	3,470	3,984	4,600	5,076	5,057	5,912	6,743	8,374	9,696	8,163	10,227	12,722	14,630	16,327	19,514

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	1.17	1.02	1.04	1.02	1.07	1.16	0.89	0.72	0.64	0.89	0.6	0.52	0.56	0.46	0.48
Current Ratio	1.84	1.91	1.82	1.77	1.75	1.84	1.57	1.39	1.42	1.61	1.29	1.17	1.17	1.03	1.03
Quick Ratio	1.52	1.44	1.43	1.37	1.42	1.5	1.27	1.13	1.11	1.26	0.83	0.76	0.81	0.65	0.68
CFO/Avg Current Liab	0.73	0.65	0.76	0.56	0.66	0.69	0.71	0.61	0.7	0.61	0.76	0.82	0.79	0.83	0.84
Common Equity/Total Assets	54.88	55.5	52.55	44.3	37.1	30.29	25.64	21.7	20.16	19.03	19.41	16.26	16.32	13.49	14.29
Long-Term Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	106.29	142.33	184.49	176.86	215.6	205	268.24	235.62
Long-Term Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	49.34	58.73	62.66	61.51	67.4	63.25	70.64	68.24
Long-Term Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	23.47	29.17	35.8	34.8	35.51	33.79	36.35	33.7
Total Debt/Equity (%)	- -	- -	- -	21.89	53.91	91.13	97.41	115.39	142.33	194.45	187.55	219.9	224.11	279.75	245.29
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt/Total Assets (%)	- -	- -	- -	9.75	20.11	27.74	25.43	25.48	29.17	37.73	36.9	36.21	36.94	37.91	35.08
CFO/Total Liabilities	55.73	53.28	61.29	40.06	40.25	35.69	35.94	32.13	35.2	26.69	31.28	34.61	33.79	35.56	38.03
CFO/CapEx	15.16	30.71	26.68	19.47	23.17	21.57	18.88	18.86	19.39	21.31	23.25	25.33	32.29	31.18	36.09
Altman's Z-Score	7.57	- -	- -	10.57	10.55	9.18	10.32	10.17	12.17	11.62	11.63	11.34	12.08	12.47	12.23

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	6.87	8.53	8.79	9.1	8.84	8.64	7.38	7.04	7.05	5.93	6.68	6.92	6.71	7.19	7.82
Days Sales Outstanding	53.14	42.79	41.52	40.11	41.31	42.25	49.43	51.82	51.78	61.54	54.62	52.78	54.43	50.75	46.65
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	34,892	- -	- -	95,299	110,526	112,175	160,840	195,556	304,696	347,454	354,441	330,797	397,767	481,137	515,561
- Cash & Cash Equivalents	3,734	2,052	3,599	5,137	5,747	6,721	5,933	6,682	6,988	10,113	7,421	7,008	8,588	8,442	10,566
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	9	12	11	34	34	28	100	94	98	126	100	79	68	30	9
+ Total Debt	- -	- -	- -	1,494	3,268	5,180	5,424	6,334	8,527	12,672	13,901	14,023	15,681	18,226	19,000
Enterprise Value	29,952	- -	- -	90,452	107,090	109,048	158,582	193,606	305,645	349,656	360,548	337,491	404,336	490,621	523,672
Total Capital	5,877	6,929	7,495	8,318	9,330	10,864	10,992	11,823	14,518	19,189	21,313	20,400	22,678	24,741	26,746
Total Debt/Capital (%)	- -	- -	- -	17.96	35.03	47.68	49.34	53.57	58.73	66.04	65.22	68.74	69.15	73.67	71.04
Total Debt / EV	- -	- -	- -	0.02	0.03	0.05	0.03	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.04
EV/Sales	4.46	- -	- -	9.58	11.08	10.12	12.69	12.95	18.1	22.85	19.09	15.18	16.11	17.42	15.97
EV/EBITDA	10.3	- -	- -	16.67	19.67	17.78	22.47	25.01	30.01	40.37	33.36	25.93	27.31	29.77	26.13
EV/EBIT	11.04	- -	- -	17.71	21.09	18.93	23.95	26.59	31.63	43.27	35.76	27.52	28.86	31.49	27.71
EV/Cash Flow to Firm	11.09	- -	- -	26.29	25.82	23.18	27.55	30.37	36.52	46.39	36.69	29.11	32.47	32.01	28.73
EV/Free Cash Flow to Firm	11.87	- -	- -	27.69	26.97	24.29	29.06	32.03	38.46	48.57	38.28	30.26	33.47	33.04	29.52
Diluted Market Cap	35,205	- -	- -	96,659	112,606	114,251	163,587	198,591	309,107	351,135	358,781	335,987	402,878	488,301	522,459
Diluted Enterprise Value	30,265	- -	- -	91,812	109,170	111,124	161,329	196,641	310,056	353,337	364,888	342,681	409,447	497,785	530,570
EV per Share	23.61	- -	- -	78.48	95.96	100.88	150.46	187.78	303.4	351.25	367.91	353.02	432.91	537.14	585.74
TTM Sales	6,714	7,391	8,312	9,441	9,667	10,776	12,497	14,950	16,883	15,301	18,884	22,237	25,098	28,167	32,791
TTM EBITDA	2,907	4,167	4,761	5,427	5,444	6,134	7,059	7,741	10,186	8,661	10,808	13,014	14,807	16,479	20,040
TTM Operating Income	3,470	3,984	4,600	5,076	5,057	5,912	6,743	8,374	9,696	8,163	10,227	12,722	14,630	16,327	19,514
TTM Cash Flow to Firm	2,701	2,962	4,145	3,441	4,148	4,705	5,756	6,374	8,370	7,538	9,826	11,594	12,452	15,325	18,230
TTM Free Cash Flow to Firm	2,524	2,866	3,990	3,266	3,971	4,490	5,456	6,044	7,948	7,199	9,419	11,152	12,081	14,851	17,741

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	14.04	- -	- -	29.91	28.7	25.84	30.5	33.7	39.83	51	39.62	31.25	34.7	34.13	30.45
EV/EBIT	11.04	- -	- -	17.71	21.09	18.93	23.95	26.59	31.63	43.27	35.76	27.52	28.86	31.49	27.71
Enterprise Value	29,952	- -	- -	90,452	107,090	109,048	158,582	193,606	305,645	349,656	360,548	337,491	404,336	490,621	523,672
Low Price	24.14	- -	- -	67.66	79.76	79.08	103.51	150.78	181.46	199.55	305.45	281.23	341.24	415.99	440.13
EV/Sales	4.46	- -	- -	9.58	11.08	10.12	12.69	12.95	18.1	22.85	19.09	15.18	16.11	17.42	15.97
EV/EBITDA	10.3	- -	- -	16.67	19.67	17.78	22.47	25.01	30.01	40.37	33.36	25.93	27.31	29.77	26.13
Price/Earnings	18.47	- -	- -	26.63	29.49	28.07	41.59	33.7	37.89	54.55	41.13	33.73	35.91	37.85	34.87
Price/Earnings Average	17.24	- -	- -	24.96	27.59	25.91	34.67	34.08	32.06	48.46	40.64	33.25	32.5	34.02	33.74
Price/Earnings High	18.59	- -	- -	28.97	30.61	29.36	42.39	40.23	37.89	57.88	45.92	39.18	36.36	38.7	36.58
Price/Earnings Low	16.21	- -	- -	21.79	23.75	21.39	28.21	26.79	22.73	31.19	34.74	27.41	28.77	29.89	26.61
Price/Book Value	5.95	- -	- -	14.04	18.34	19.83	29.41	36.25	51.7	54.37	48.47	52.52	57.41	74.19	66.64
Price/Book Value Average	5.55	- -	- -	13.15	17.15	18.31	24.52	36.65	43.75	48.29	47.9	51.78	51.96	66.69	64.48
Price/Book Value High	5.98	- -	- -	15.27	19.03	20.74	29.98	43.27	51.7	57.68	54.11	61.01	58.12	75.86	69.92
Price/Book Value Low	5.22	- -	- -	11.49	14.77	15.11	19.95	28.82	31.02	31.08	40.94	42.69	46	58.59	50.86
Price/Tangible Book Value	8.33	- -	- -	20.93	33.15	35.3	122.5	130.37	669.66	-1,079.05	-88.15	-65.08	-82.58	-58.96	-69.89
Price/Tangible Book Value Average	7.78	- -	- -	19.61	31.01	32.58	102.1	131.83	566.59	-958.53	-87.1	-64.15	-74.74	-52.99	-67.63
Price/Tangible Book Value High	8.38	- -	- -	22.76	34.41	36.91	124.86	155.62	669.66	-1,144.85	-98.39	-75.6	-83.6	-60.28	-73.33
Price/Tangible Book Value Low	7.31	- -	- -	17.12	26.7	26.9	83.09	103.64	401.76	-616.9	-74.44	-52.89	-66.16	-46.56	-53.34
Price/Sales	5.24	- -	- -	10.2	11.62	10.57	13.03	13.21	18.22	22.86	18.92	15.06	16.02	17.3	15.92
Price/Sales Average	4.89	- -	- -	9.56	10.87	9.76	10.86	13.36	15.41	20.3	18.7	14.85	14.5	15.55	15.4
Price/Sales High	5.28	- -	- -	11.1	12.06	11.06	13.28	15.77	18.22	24.25	21.12	17.5	16.22	17.69	16.7
Price/Sales Low	4.6	- -	- -	8.35	9.36	8.06	8.84	10.5	10.93	13.07	15.98	12.24	12.83	13.66	12.15
Price/Cash Flow	13.12	- -	- -	28.27	27.39	24.57	28.75	31.73	37.59	48.41	37.76	29.92	33.56	32.97	29.57
Price/Cash Flow Average	12.24	- -	- -	26.5	25.61	22.68	23.96	32.09	31.8	43.01	37.31	29.49	30.37	29.63	28.62
Price/Cash Flow High	13.2	- -	- -	30.76	28.42	25.7	29.3	37.88	37.59	51.37	42.15	34.76	33.98	33.71	31.03
Price/Cash Flow Low	11.51	- -	- -	23.14	22.05	18.73	19.5	25.22	22.55	27.68	31.89	24.32	26.89	26.03	22.57
Price/Free Cash Flow Average	13.11	- -	- -	28.03	26.84	23.85	25.42	34.08	33.7	45.3	39.15	30.8	31.41	30.68	29.46
Price/Free Cash Flow High	14.13	- -	- -	32.53	29.78	27.02	31.09	40.23	39.83	54.11	44.22	36.3	35.14	34.9	31.95
Price/Free Cash Flow Low	12.32	- -	- -	24.47	23.11	19.69	20.69	26.79	23.89	29.16	33.46	25.4	27.81	26.96	23.24
EV/Sales Average	4.12	- -	- -	8.95	10.34	9.32	10.55	13.1	15.33	20.32	18.87	14.96	14.61	15.69	15.46
EV/Sales High	4.49	- -	- -	10.47	11.51	10.6	12.94	15.48	18.1	24.24	21.27	17.58	16.31	17.8	16.74
EV/Sales Low	3.83	- -	- -	7.75	8.85	7.64	8.55	10.27	10.88	13.13	16.17	12.39	12.96	13.83	12.25
EV/EBITDA Average	9.51	- -	- -	15.56	18.36	16.37	18.67	25.29	25.4	35.89	32.97	25.57	24.76	26.82	25.3
EV/EBITDA High	10.38	- -	- -	18.21	20.44	18.61	22.91	29.9	30.01	42.82	37.17	30.04	27.64	30.43	27.4
EV/EBITDA Low	8.83	- -	- -	13.48	15.72	13.43	15.14	19.83	18.04	23.19	28.26	21.17	21.97	23.63	20.04
EV/EBIT Average	10.18	- -	- -	16.54	19.68	17.43	19.9	26.89	26.77	38.47	35.34	27.13	26.17	28.36	26.83
EV/EBIT High	11.12	- -	- -	19.35	21.91	19.82	24.42	31.79	31.63	45.89	39.85	31.88	29.22	32.18	29.06
EV/EBIT Low	9.47	- -	- -	14.32	16.85	14.3	16.13	21.08	19.01	24.85	30.3	22.47	23.22	24.99	21.25
Last Price	27.5	- -	- -	82.68	99.04	103.77	152.6	189.68	302.45	349.04	361.67	346.02	425.87	526.75	576.67
High Price	27.68	- -	- -	89.95	102.79	108.52	155.55	226.41	302.45	370.33	403.71	401.95	431.18	538.62	605.07
Enterprise Value Average	27,631	- -	- -	84,462	99,942	100,422	131,805	195,798	258,745	310,849	356,319	332,775	366,573	441,937	507,005
Enterprise Value High	30,173	- -	- -	98,821	111,278	114,184	161,688	231,484	305,645	370,845	401,744	390,953	409,290	501,456	549,062
Enterprise Value Low	25,682	- -	- -	73,138	85,571	82,357	106,845	153,508	183,751	200,844	305,447	275,549	325,286	389,450	401,601

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	1,269	1,232	1,149	1,153	1,116	1,081	1,054	1,031	1,007	995	980	956	934	913	894
Diluted Weighted Avg Shares	1,280	1,260	1,215	1,169	1,137	1,101	1,072	1,047	1,022	1,006	992	971	946	927	906
Basic Weighted Avg Shares	1,280	1,250	1,211	1,165	1,134	1,098	1,067	1,041	1,017	1,002	988	968	944	925	905
Revenue per Share	5.25	5.91	6.86	8.1	8.52	9.81	11.71	14.36	16.6	15.27	19.11	22.97	26.59	30.45	36.23
EBITDA per Share	2.27	3.33	3.93	4.66	4.8	5.59	6.62	7.44	10.02	8.64	10.94	13.44	15.69	17.82	22.14
Operating Income per Share	2.71	3.19	3.8	4.36	4.46	5.38	6.32	8.04	9.53	8.15	10.35	13.14	15.5	17.65	21.56
Basic EPS, GAAP	1.49	2.21	2.57	3.1	3.36	3.7	3.67	5.63	7.98	6.4	8.79	10.26	11.86	13.92	16.54
Basic EPS from Cont Ops	1.49	2.21	2.57	3.1	3.36	3.7	3.67	5.63	7.98	6.4	8.79	10.26	11.86	13.92	16.54
Diluted EPS, GAAP	1.49	2.19	2.56	3.09	3.35	3.69	3.65	5.6	7.94	6.37	8.76	10.23	11.83	13.89	16.52
Diluted EPS from Cont Ops	1.49	2.19	2.56	3.09	3.35	3.69	3.65	5.6	7.94	6.37	8.76	10.23	11.83	13.89	16.52
Dividend per Share	0.06	0.11	0.21	0.44	0.64	0.76	0.88	1	1.32	1.6	1.76	1.97	2.29	2.65	3.05
Cash Flow per Share	2.1	2.36	3.41	2.92	3.62	4.22	5.31	5.98	8.05	7.21	9.58	11.57	12.69	15.98	19.5
Free Cash Flow per Basic Share	1.96	2.28	3.29	2.77	3.46	4.03	5.03	5.66	7.63	6.87	9.17	11.11	12.3	15.47	18.96
Cash & Equivalents per Share	3.9	4.06	5.48	5.53	6.04	7.71	7.38	8.13	7.62	10.64	8.06	7.75	9.83	9.6	12.19
Book Value per Share	4.63	5.61	6.51	5.89	5.4	5.23	5.19	5.23	5.85	6.42	7.46	6.59	7.42	7.1	8.65
Tangible Book Value per Share	3.3	4.18	4.95	3.95	2.99	2.94	1.25	1.45	0.45	-0.32	-4.1	-5.32	-5.16	-8.93	-8.25