Northrop Grumman Corporation Financial Ratios — NTH 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 (%)	17.73	19.93	19.39	23.18	31.2	37.9	46.31	42.16	26.44	32.88	59.6	34.68	13.66	27.75	26.17
Return on Assets (%)	7.45	7.61	7.38	7.81	7.8	8.17	9.45	8.87	5.71	7.45	16.09	11.34	4.55	8.7	8.3
Return on Capital (%)	13.88	15.29	14.19	15.27	17.59	18.76	18.4	16.84	11.65	14.51	27.44	18.57	8.38	15.07	14.45
Return on Invested Capital (%)	13.59	15.12	14.26	15.23	17.59	20.72	12.94	14.81	15.05	13.67	16.36	10.55	7.35	11.68	11.37
Gross Margin (%)	21.3	22.13	21.81	23.36	23.98	23.92	22.8	22.57	21.45	20.32	20.38	20.42	16.67	20.38	19.81
EBITDA Margin (%)	14.46	14.43	14.67	15.26	15.06	15.11	14.2	15.22	15.47	14.49	19.32	13.5	9.86	13.99	14.26
Operating Margin (%)	12.4	12.41	12.66	13.33	13.07	13.26	12.38	12.56	11.73	11.05	10.29	9.84	6.46	10.65	10.2
Incremental Operating Margin (%)	- -	12.23	1.26	- -	26.49	17.03	- -	13.74	5.05	3.25	34.81	- -	- -	105.16	- -
Pretax Margin (%)	11.67	11.76	11.61	12.25	11.86	10.85	16.26	12.43	7.53	10.13	25.06	15.94	5.97	12.22	12.08
Profit Margin (%)	8.02	7.84	7.92	8.63	8.46	8.27	11.03	10.73	6.64	8.67	19.64	13.38	5.23	10.17	9.97
Net Income to Common Margin (%)	8.02	7.84	7.92	8.63	8.46	8.27	11.03	10.73	6.64	8.67	19.64	13.38	5.23	10.17	9.97
Effective Tax Rate (%)	32.34	33.29	31.82	29.55	28.67	23.8	32.16	13.71	11.77	14.46	21.63	16.11	12.36	16.79	17.48
Dvd Payout Ratio (%)	26.03	27.05	27.92	27.21	30.3	31.33	24.02	25.43	39.15	29.88	14.03	21.49	54.28	28.41	30.92
Sustainable Growth Rate (%)	13.11	14.54	13.98	16.87	21.74	26.03	35.19	31.44	16.09	23.05	51.24	27.23	6.24	19.86	18.08

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	3,948	3,930	5,928	5,925	6,386	7,058	14,399	14,400	15,187	16,346	14,373	14,701	15,678	16,490	17,019
ST Debt	13	- -	- -	- -	- -	- -	- -	517	1,109	742	6	1,072	- -	- -	- -
LT Debt	3,935	3,930	5,928	5,925	6,386	7,058	14,399	13,883	14,078	15,604	14,367	13,629	15,678	16,490	17,019
Total Debt/EBITDA	1.03	1.08	1.64	1.62	1.8	1.89	3.9	3.14	2.9	3.07	2.09	2.97	4.05	2.87	2.84
Net Debt/EBITDA	0.25	0.02	0.22	0.56	1.15	1.21	0.86	2.8	2.22	1.89	1.34	2.08	2.76	1.8	1.8
Total Debt/EBIT	1.21	1.26	1.9	1.85	2.08	2.15	4.47	3.81	3.83	4.02	2.54	4.08	6.18	3.77	3.77
Net Debt/EBIT	0.29	0.02	0.25	0.65	1.32	1.38	0.99	3.39	2.93	2.48	1.64	2.86	4.21	2.37	2.39
EBITDA to Interest Expense	17.29	17.17	14.08	12.97	11.77	12.4	10.26	8.15	9.91	8.99	12.39	9.77	7.11	9.24	9
EBITDA-CapEx/Interest Expense	15.08	17.17	14.08	12.97	11.77	12.4	10.26	8.15	9.91	8.99	12.39	9.77	7.11	9.24	9
EBIT to Interest Expense	14.82	14.76	12.15	11.33	10.22	10.89	8.94	6.73	7.52	6.85	6.6	7.12	4.66	7.04	6.44
Interest Expense	221	212	257	282	301	301	360	562	528	593	556	506	545	621	665
Common Equity/Total Assets	40.68	35.84	40.26	27.23	22.61	20.53	20.3	21.74	21.46	23.79	30.36	34.99	31.79	30.98	32.45
Long-Term Debt/Equity (%)	38.07	41.31	55.82	81.89	115.65	134.21	201.89	169.57	159.63	147.5	111.15	89.01	105.97	107.85	102.07
Long-Term Debt/Capital (%)	27.55	29.23	35.82	45.02	53.63	57.3	66.88	61.46	58.64	57.95	52.63	45.41	51.45	51.89	50.51
Long-Term Debt/Total Assets (%)	15.49	14.81	22.47	22.3	26.15	27.56	40.99	36.87	34.26	35.09	33.74	31.15	33.68	33.41	33.13
Total Debt/Equity (%)	38.2	41.31	55.82	81.89	115.65	134.21	201.89	175.89	172.21	154.51	111.19	96.01	105.97	107.85	102.07
Total Debt/Capital (%)	27.64	29.23	35.82	45.02	53.63	57.3	66.88	63.75	63.26	60.71	52.65	48.98	51.45	51.89	50.51
Total Debt/Total Assets (%)	15.54	14.81	22.47	22.3	26.15	27.56	40.99	38.24	36.96	36.76	33.76	33.6	33.68	33.41	33.13
Net Debt to Equity	9.15	0.71	7.33	28.5	73.65	85.89	44.5	156.6	131.92	95.43	71.58	67.27	72.17	67.62	64.53
Net Debt/Capital (%)	8.39	0.71	6.83	22.18	42.41	46.2	30.8	61.03	53.46	45.85	38.93	37.54	39.02	37.7	36.73
EBITDA	3,820	3,640	3,618	3,658	3,543	3,733	3,693	4,580	5,234	5,332	6,890	4,943	3,875	5,740	5,983
EBITDA-CapEx	3,332	3,640	3,618	3,658	3,543	3,733	3,693	4,580	5,234	5,332	6,890	4,943	3,875	5,740	5,983
Operating Income (Loss)	3,276	3,130	3,123	3,196	3,076	3,277	3,218	3,780	3,969	4,065	3,671	3,601	2,537	4,370	4,280

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	0.49	0.64	0.89	0.66	0.42	0.45	1.58	0.19	0.24	0.51	0.37	0.22	0.26	0.31	0.32
Current Ratio	1.26	1.39	1.63	1.32	1.16	1.22	2.34	1.17	1.13	1.6	1.3	1.08	1.15	1.01	1.1
Quick Ratio	0.97	1.11	1.35	1.13	0.95	1.04	2.22	0.97	0.94	1.21	1.1	0.87	0.86	0.82	0.89
CFO/Avg Current Liab	0.29	0.43	0.42	0.44	0.38	0.51	0.41	0.5	0.49	0.45	0.37	0.27	0.33	0.34	0.34
Common Equity/Total Assets	40.68	35.84	40.26	27.23	22.61	20.53	20.3	21.74	21.46	23.79	30.36	34.99	31.79	30.98	32.45
Long-Term Debt/Equity (%)	38.07	41.31	55.82	81.89	115.65	134.21	201.89	169.57	159.63	147.5	111.15	89.01	105.97	107.85	102.07
Long-Term Debt/Capital (%)	27.55	29.23	35.82	45.02	53.63	57.3	66.88	61.46	58.64	57.95	52.63	45.41	51.45	51.89	50.51
Long-Term Debt/Total Assets (%)	15.49	14.81	22.47	22.3	26.15	27.56	40.99	36.87	34.26	35.09	33.74	31.15	33.68	33.41	33.13
Total Debt/Equity (%)	38.2	41.31	55.82	81.89	115.65	134.21	201.89	175.89	172.21	154.51	111.19	96.01	105.97	107.85	102.07
Total Debt/Capital (%)	27.64	29.23	35.82	45.02	53.63	57.3	66.88	63.75	63.26	60.71	52.65	48.98	51.45	51.89	50.51
Total Debt/Total Assets (%)	15.54	14.81	22.47	22.3	26.15	27.56	40.99	38.24	36.96	36.76	33.76	33.6	33.68	33.41	33.13
CFO/Total Liabilities	14.03	15.5	15.75	13.41	11.44	13.82	9.33	12.99	13.32	12.7	12.03	10.2	12.21	12.88	13.71
CFO/CapEx	4.33	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	4.68	- -	- -	- -	- -	- -	3.7	4.37	3.9	3.64	4.05	4.5	3.83	3.64	3.81

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	7.52	8.66	8.9	8.73	8.33	8.05	11.95	24.06	24.4	26.03	24.03	24.58	26.5	30.1	31.7
Days Sales Outstanding	48.51	42.13	41.02	41.79	43.81	45.36	30.55	15.17	14.96	14.02	15.19	14.85	13.77	12.12	11.51
Inventory Turnover	20.2	23.5	25.78	25.53	23.09	23.16	33.07	44.3	37	38.03	36.18	32.56	31.37	25.48	24.34
Days Inventory Outstanding	18.07	15.53	14.16	14.3	15.81	15.76	11.04	8.24	9.87	9.6	10.09	11.21	11.63	14.32	14.99
Accounts Payable Turnover	12.31	13.62	14.64	14.54	13.88	13.26	12.23	12.26	12.12	14.53	14.21	12.25	14	14.02	11.47
Accounts Payable Turnover Days	29.66	26.8	24.94	25.1	26.3	27.52	29.85	29.77	30.12	25.12	25.68	29.8	26.08	26.03	31.81
Cash Conversion Cycle	36.93	30.86	30.24	30.99	33.31	33.59	11.74	-6.36	-5.29	-1.5	-0.4	-3.75	-0.67	0.42	-5.31
Inventory to Cash Days	30.44	26.6	26.86	27.49	28	29.6	19.51	6.93	5.09	4.42	5.1	3.64	2.14	-2.2	-3.48
Inventories	873	798	698	742	807	816	398	654	783	759	811	978	1,109	1,455	1,309
Raw Materials	123	110	102	106	103	100	97	277	317	329	333	325	338	293	306
Work In Process	1,850	1,855	1,601	1,509	1,511	1,823	342	418	507	430	478	605	719	1,118	945
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	48	52	44	58
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	62	- -	- -	- -	- -	- -

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	15,899	- -	- -	- -	- -	- -	53,674	59,657	57,027	50,674	60,269	83,163	72,909	69,518	82,152
- Cash & Cash Equivalents	3,002	3,862	5,150	3,863	2,319	2,541	11,225	1,579	2,245	4,907	3,530	2,577	3,109	4,353	4,403
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	3,948	3,930	5,928	5,925	6,386	7,058	14,399	14,400	15,187	16,346	14,373	14,701	15,678	16,490	17,019
Enterprise Value	16,845	- -	- -	- -	- -	- -	56,848	72,478	69,969	62,113	71,112	95,287	85,478	81,655	94,768
Total Capital	14,284	13,444	16,548	13,160	11,908	12,317	21,531	22,587	24,006	26,925	27,299	30,013	30,473	31,780	33,693
Total Debt/Capital (%)	27.64	29.23	35.82	45.02	53.63	57.3	66.88	63.75	63.26	60.71	52.65	48.98	51.45	51.89	50.51
Total Debt / EV	0.23	- -	- -	- -	- -	- -	0.25	0.2	0.22	0.26	0.2	0.15	0.18	0.2	0.18
EV/Sales	0.64	- -	- -	- -	- -	- -	2.19	2.41	2.07	1.69	1.99	2.6	2.18	1.99	2.26
EV/EBITDA	4.41	- -	- -	- -	- -	- -	15.39	15.82	13.37	11.65	10.32	19.28	22.06	14.23	15.84
EV/EBIT	5.14	- -	- -	- -	- -	- -	17.67	19.17	17.63	15.28	12.58	26.46	33.69	18.69	21.01
EV/Cash Flow to Firm	7.44	- -	- -	- -	- -	- -	19.9	16.81	14.69	12.91	17.77	28.65	19.64	16.65	17.86
EV/Free Cash Flow to Firm	9.48	- -	- -	- -	- -	- -	19.9	16.81	14.69	12.91	17.77	28.65	19.64	16.65	17.86
Diluted Market Cap	17,635	- -	- -	- -	- -	- -	54,141	61,053	57,758	50,942	62,049	84,490	73,827	70,645	83,195
Diluted Enterprise Value	18,581	- -	- -	- -	- -	- -	57,315	73,874	70,700	62,381	72,892	96,614	86,396	82,782	95,811
EV per Share	66.35	- -	- -	- -	- -	- -	326.55	424.82	416.86	372.56	455.01	622.15	569.44	563.33	667.39
TTM Sales	26,412	25,218	24,661	23,979	23,526	24,706	26,004	30,095	33,841	36,799	35,667	36,602	39,290	41,033	41,954
TTM EBITDA	3,820	3,640	3,618	3,658	3,543	3,733	3,693	4,580	5,234	5,332	6,890	4,943	3,875	5,740	5,983
TTM Operating Income	3,276	3,130	3,123	3,196	3,076	3,277	3,218	3,780	3,969	4,065	3,671	3,601	2,537	4,370	4,280
TTM Cash Flow to Firm	2,265	2,781	2,658	2,792	2,377	3,042	2,857	4,312	4,763	4,812	4,003	3,325	4,353	4,905	5,306
TTM Free Cash Flow to Firm	1,777	2,781	2,658	2,792	2,377	3,042	2,857	4,312	4,763	4,812	4,003	3,325	4,353	4,905	5,306

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	10.84	- -	- -	- -	- -	- -	20.72	15.95	13.44	11.83	17.4	29.12	19.05	16.1	17.49
EV/EBIT	5.14	- -	- -	- -	- -	- -	17.67	19.17	17.63	15.28	12.58	26.46	33.69	18.69	21.01
Enterprise Value	16,845	- -	- -	- -	- -	- -	56,848	72,478	69,969	62,113	71,112	95,287	85,478	81,655	94,768
Low Price	62.35	- -	- -	- -	- -	- -	234.3	302.85	318.76	268.21	285.33	366.15	420.96	420.56	430
EV/Sales	0.64	- -	- -	- -	- -	- -	2.19	2.41	2.07	1.69	1.99	2.6	2.18	1.99	2.26
EV/EBITDA	4.41	- -	- -	- -	- -	- -	15.39	15.82	13.37	11.65	10.32	19.28	22.06	14.23	15.84
Price/Earnings	8.18	- -	- -	- -	- -	- -	18.74	18.81	25.59	15.93	8.82	17.18	35.79	16.89	19.85
Price/Earnings Average	8.17	- -	- -	- -	- -	- -	16.59	17.8	26.15	17.19	7.99	14.72	33.69	16.85	18.17
Price/Earnings High	8.18	- -	- -	- -	- -	- -	18.99	19.49	27.57	20.43	9.35	17.79	40.64	19.36	22.39
Price/Earnings Low	8.15	- -	- -	- -	- -	- -	14.24	16.29	24.01	14.05	6.53	11.58	31.02	14.81	14.75
Price/Book Value	1.54	- -	- -	- -	- -	- -	7.53	7.29	6.47	4.79	4.66	5.43	4.93	4.55	4.93
Price/Book Value Average	1.53	- -	- -	- -	- -	- -	6.66	6.89	6.61	5.17	4.22	4.65	4.64	4.53	4.51
Price/Book Value High	1.54	- -	- -	- -	- -	- -	7.63	7.55	6.97	6.14	4.94	5.62	5.6	5.21	5.56
Price/Book Value Low	1.53	- -	- -	- -	- -	- -	5.72	6.31	6.07	4.23	3.45	3.66	4.27	3.99	3.66
Price/Tangible Book Value	-7.8	- -	- -	- -	- -	- -	-9.99	-5.03	-5.22	-6.56	-11.66	-32.13	-24.09	-31.29	-107.67
Price/Tangible Book Value Average	-7.78	- -	- -	- -	- -	- -	-8.84	-4.76	-5.33	-7.08	-10.56	-27.53	-22.67	-31.2	-98.54
Price/Tangible Book Value High	-7.8	- -	- -	- -	- -	- -	-10.12	-5.21	-5.62	-8.42	-12.35	-33.27	-27.35	-35.86	-121.44
Price/Tangible Book Value Low	-7.77	- -	- -	- -	- -	- -	-7.59	-4.36	-4.9	-5.79	-8.63	-21.67	-20.88	-27.43	-80.02
Price/Sales	0.66	- -	- -	- -	- -	- -	2.07	2.02	1.7	1.38	1.73	2.3	1.87	1.72	1.98
Price/Sales Average	0.65	- -	- -	- -	- -	- -	1.83	1.91	1.74	1.49	1.57	1.97	1.76	1.71	1.81
Price/Sales High	0.66	- -	- -	- -	- -	- -	2.1	2.09	1.83	1.77	1.84	2.38	2.13	1.97	2.23
Price/Sales Low	0.65	- -	- -	- -	- -	- -	1.57	1.75	1.59	1.22	1.28	1.55	1.62	1.51	1.47
Price/Cash Flow	8.2	- -	- -	- -	- -	- -	20.58	15.87	13.39	11.8	17.33	28.99	18.99	16.07	17.45
Price/Cash Flow Average	8.18	- -	- -	- -	- -	- -	18.21	15.02	13.68	12.73	15.7	24.84	17.88	16.02	15.97
Price/Cash Flow High	8.2	- -	- -	- -	- -	- -	20.85	16.45	14.43	15.13	18.35	30.02	21.56	18.42	19.68
Price/Cash Flow Low	8.16	- -	- -	- -	- -	- -	15.64	13.75	12.56	10.41	12.82	19.55	16.46	14.09	12.97
Price/Free Cash Flow Average	10.81	- -	- -	- -	- -	- -	18.34	15.1	13.74	12.77	15.76	24.95	17.93	16.06	16.01
Price/Free Cash Flow High	10.84	- -	- -	- -	- -	- -	21	16.53	14.49	15.18	18.42	30.15	21.63	18.45	19.73
Price/Free Cash Flow Low	10.79	- -	- -	- -	- -	- -	15.75	13.82	12.61	10.44	12.87	19.64	16.51	14.12	13
EV/Sales Average	0.64	- -	- -	- -	- -	- -	1.95	2.3	2.1	1.8	1.83	2.28	2.07	1.99	2.09
EV/Sales High	0.64	- -	- -	- -	- -	- -	2.21	2.48	2.2	2.08	2.09	2.68	2.43	2.24	2.51
EV/Sales Low	0.64	- -	- -	- -	- -	- -	1.69	2.14	1.96	1.53	1.55	1.86	1.93	1.78	1.76
EV/EBITDA Average	4.4	- -	- -	- -	- -	- -	13.72	15.12	13.61	12.4	9.5	16.87	20.95	14.19	14.67
EV/EBITDA High	4.41	- -	- -	- -	- -	- -	15.59	16.3	14.21	14.33	10.84	19.87	24.61	16	17.6
EV/EBITDA Low	4.39	- -	- -	- -	- -	- -	11.9	14.08	12.69	10.53	8.05	13.8	19.55	12.73	12.31
EV/EBIT Average	5.13	- -	- -	- -	- -	- -	15.75	18.33	17.94	16.27	11.58	23.15	32.01	18.64	19.46
EV/EBIT High	5.14	- -	- -	- -	- -	- -	17.89	19.75	18.74	18.8	13.21	27.28	37.59	21.01	23.34
EV/EBIT Low	5.12	- -	- -	- -	- -	- -	13.66	17.06	16.74	13.81	9.81	18.94	29.86	16.73	16.33
Last Price	62.62	- -	- -	- -	- -	- -	308.32	349.67	339.76	303.95	385.63	542.99	485.7	479.6	578.55
High Price	62.62	- -	- -	- -	- -	- -	312.46	362.35	366.14	389.81	408.41	562.16	551.53	549.72	652.55
Enterprise Value Average	16,810	- -	- -	- -	- -	- -	50,672	69,269	71,222	66,132	65,430	83,367	81,199	81,471	87,800
Enterprise Value High	16,845	- -	- -	- -	- -	- -	57,569	74,641	74,399	76,427	74,671	98,223	95,360	91,821	105,276
Enterprise Value Low	16,775	- -	- -	- -	- -	- -	43,962	64,489	66,445	56,154	55,436	68,202	75,759	73,098	73,674

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	239	218	199	181	175	174	171	168	167	156	153	150	145	142
Diluted Weighted Avg Shares	282	253	234	212	192	181	176	175	170	168	161	156	152	147	144
Basic Weighted Avg Shares	277	249	230	209	189	179	174	174	169	167	160	155	152	147	144
Revenue per Share	95.42	101.44	107.41	114.84	124.21	138.1	149.11	173.26	199.89	220.22	222.5	236.29	259.34	279.14	292.36
EBITDA per Share	13.8	14.64	15.76	17.52	18.71	20.87	21.18	26.37	30.92	31.91	42.98	31.91	25.58	39.05	41.69
Operating Income per Share	11.84	12.59	13.6	15.31	16.24	18.32	18.45	21.76	23.44	24.33	22.9	23.25	16.75	29.73	29.83
Basic EPS, GAAP	7.65	7.96	8.5	9.91	10.51	11.42	16.45	18.59	13.28	19.08	43.7	31.61	13.57	28.39	29.14
Basic EPS from Cont Ops	7.54	7.96	8.5	9.91	10.51	11.42	16.45	18.59	13.28	19.08	43.7	31.61	13.57	28.39	29.14
Diluted EPS, GAAP	7.52	7.81	8.35	9.75	10.39	11.32	16.34	18.49	13.22	19.03	43.54	31.47	13.53	28.34	29.08
Diluted EPS from Cont Ops	7.41	7.81	8.35	9.75	10.39	11.32	16.34	18.49	13.22	19.03	43.54	31.47	13.53	28.34	29.08
Dividend per Share	1.96	2.15	2.37	2.7	3.18	3.58	3.95	4.73	5.2	5.7	6.13	6.79	7.37	8.07	9.01
Cash Flow per Share	7.64	10.62	10.81	12.42	11.41	15.72	14.98	22.03	25.38	25.76	22.25	18.73	25.58	29.85	33.15
Free Cash Flow per Basic Share	5.88	10.62	10.81	12.42	11.41	15.72	14.98	22.03	25.38	25.76	22.25	18.73	25.58	29.85	33.15
Cash & Equivalents per Share	11.82	16.14	23.67	19.42	12.79	14.51	64.48	9.26	13.38	29.43	22.59	16.83	20.71	30.03	31.01
Book Value per Share	40.71	39.77	48.81	36.37	30.46	30.04	40.97	47.99	52.54	63.45	82.71	99.98	98.56	105.48	117.42
Tangible Book Value per Share	-8.03	-12.19	-8.35	-26.3	-38.27	-41.08	-30.88	-69.5	-65.11	-46.32	-33.06	-16.9	-20.17	-15.33	-5.37