CurrentFinancialInformation(Enterthemostrecentinformationyoucanfind;ifpossible,usetrailing12monthdata)

I.IncomeStatement
CurrentEBIT= $(55.00)
CurrentInterestExpense= $0.51
CurrentCapitalSpending $459.27
CurrentDepreciationandAmortization $59.52
CurrentRevenues= $1,246.30
II.BalanceSheet Thisperiod Lastperiod
CurrentNoncashWorkingCapital= $65.00 $29.00
BookValueofDebt= $198.47 108.165
BookValueofEquity= $1,513.04 1097.267
Cash&MarketableSecurities= $792.26
NonoperatingAssets $194.48
III.TaxInformation
NOLcarriedforward= $1,289.00
Marginaltaxrate= 37.50%

Adjustments to Current Financial Information

Do you have any operating leases? Yes
Does your firm have R&D expenses? No
Are there any other operating expenses to be capitalized? No

Discount Rate Inputs

Current Beta = 1.37
Current Cost of Borrowing = 5.91%
Current Market Value of Debt = $ 143.14

Expectations for the future

Do you want to enter the growth rate in revenues each year? Yes
If no, Compounded Annual Growth Rate in Revenues for next 10 years: 28.54%
Doyouwantmetousecurrentworkingcapitalaspercentofrevenuesforthefuture? No
Ifnot,enternoncashworkingcapitalasapercentofrevenuesinfutureperiods 140.77%
Howwouldyoulikecapitalexpenditurestobeestimated? 3
Ifyouwouldchose3,enterthesalestocapitalratiothatyouwouldlikemaintained 3.02

Stable Growth Inputs

Expected Growth Rate in perpetutity = 3% Speed of convergence
Expected Operating Margin = 14.19% 1.5
Expected Debt to Capital(MV) Ratio for the firm = 44.71%
Expected Beta = 1.10
Expected Cost of Debt = 7.20%
Return on Capital for the firm = 26.39%

Per Share Inputs

Number of Shares outstanding = 81.644
Current Stock Price = $ 119.48
Does your firm have equity options outstanding? Yes
If yes, enter the number of options outstanding = 1.53631
and the average exercise price of the options outstanding 251.31
and the average maturity of the options outstanding = 9
and the standard deviation in the firm's stock price = 61%
General Information
Current long term government bond rate = 3.55%
Estimated Market Risk Premium = 4.56%

Relative Valuation
If you want to do a relative valuation of your firm, enter these inputs:
Year on which multiple is to be applied = 10
Value to Sales multiple in that year = 3.796507133
e,usetrailing12monthdata)
 Base 1 2 3 4 5 6 7 8 9 10 Terminal Year
Revenue Growth Rate 55.00% 45.00% 40.00% 35.00% 30.00% 20.00% 15.00% 12.00% 8.00% 6.00% 3%
Revenues $1,246 $1,932 $2,801 $3,921 $5,294 $6,882 $8,259 $9,497 $10,637 $11,488 $12,177 $12,543
Operating Margin -4.18% 3.17% 7.58% 10.22% 11.81% 12.76% 13.34% 13.68% 13.88% 14.01% 14.08% 14.19%
EBIT -$52 $61 $212 $401 $625 $878 $1,101 $1,299 $1,477 $1,609 $1,715 $1,780
Taxes $0 $0 $0 $0 $4 $329 $413 $487 $554 $603 $643 $668
EBIT(1-t) -$52 $61 $212 $401 $621 $549 $688 $812 $923 $1,006 $1,072 $1,113
+ Depreciation $60 $80 $104 $125 $144 $161 $174 $185 $190 $196 $202 $208
- Capital Expenditures $459 -$658 -$831 -$1,081 -$1,333 -$1,548 -$1,307 -$1,149 -$1,037 -$720 -$540 -$180
- Chg WC $36 $965 $1,224 $1,577 $1,932 $2,236 $1,938 $1,744 $1,604 $1,198 $970 $514
FCFF -$488 -$166 -$76 $30 $167 $23 $233 $402 $546 $724 $844 $986
NOL $1,289 $1,228 $1,016 $615 $0 $0 $0 $0 $0 $0 $0 $0
Terminal Value $26,302

Cost of Capital Calculations

Tax Rate 0.00% 0.00% 0.00% 0.00% 0.64% 37.50% 37.50% 37.50% 37.50% 37.50% 37.50% 37.50%
Debt Ratio 1.92% 1.92% 1.92% 1.92% 1.92% 1.92% 10.48% 12.62% 16.19% 23.32% 44.71% 44.71%
Beta 1.37 1.37 1.37 1.37 1.37 1.37 1.32 1.26 1.21 1.15 1.10 1.10
Cost of Equity 9.80% 9.80% 9.80% 9.80% 9.80% 9.80% 9.55% 9.30% 9.06% 8.81% 8.57% 8.57%
Cost of Debt 5.91% 5.91% 5.91% 5.91% 5.91% 5.91% 6.17% 6.23% 6.34% 6.56% 7.20% 7.20%
After-tax cost of debt 5.91% 5.91% 5.91% 5.91% 5.87% 3.69% 3.86% 3.90% 3.96% 4.10% 4.50% 4.50%
Cost of Capital 9.72% 9.72% 9.72% 9.72% 9.72% 9.68% 8.95% 8.62% 8.23% 7.71% 6.75% 6.75%

Computed Variables (These are measures of how efficiently your firm is investing over time)
Total Capital Invested $ 1,711.51 $ 1,938 $ 2,226 $ 2,597 $ 3,052 $ 3,578 $ 4,033 $ 4,444 $ 4,821 $ 5,103 $ 5,331 $ 5,458
Reinvestment Rate NMF 371.04% 135.62% 92.54% 73.15% 95.78% 78.90% 74.68% 67.65% 53.58% 11.37% 11.37%
Increase in Revenue/Increase in Capi 3.02 3.02 3.02 3.02 3.02 3.02 3.02 3.02 3.02 3.02 2.89
Return on Capital 3.57% 10.95% 18.01% 23.92% 17.99% 19.24% 20.13% 20.77% 20.86% 21.00% 26.39%

Present Value Calculations

Cumulative WACC 1.09721575 1.2038824 1.32091873 1.44932323 1.589602415 1.731926011 1.881246989 2.036139682 2.193186029 2.341210317
Present Value of FCFF $ (151) $ (63) $ 23 $ 115 $ 15 $ 134 $ 214 $ 268 $ 330 $ 360
Present Value of Terminal Value $ 11,235

The Valuation
PV of FCFF during high growth phase = $ 1,245
PV of Terminal Value = $ 11,235
Value of Operating Assets of the firm = $ 12,479
Value of Cash & Non-operating assets= $ 986.74
Value of Firm = $ 13,466
- Value of Outstanding Debt = $ 191
Value of Equity = $ 13,275
- Value of Equity Options = $ 95
Value of Equity in Common Stock = $ 13,180 Treasury Stock Approach
Value of Equity per share = $ 161.43 $ 164.23

Summary Output
Revenues $1,932 $2,801 $3,921 $5,294 $6,882 $8,259 $9,497 $10,637 $11,488 $12,177 $12,543
EBIT $61 $212 $401 $625 $878 $1,101 $1,299 $1,477 $1,609 $1,715 $1,780
EBIT(1-t) $61 $212 $401 $621 $549 $688 $812 $923 $1,006 $1,072 $1,113
- Reinvestment $227 $288 $371 $454 $526 $456 $410 $377 $282 $228 $127
FCFF -$166 -$76 $30 $167 $23 $233 $402 $546 $724 $844 $986
Relative Valuation Output
Year in which multiple is used = 10 Year
Value to Sales Ratio for Specialty retailers= 3.796507133 1
2
Revenue in chosen year = $ 12,177 3
Value in chosen year = $ 46,232 4
Cost of capital in chosen yea 2.3412 5
Value today = $ 19,747 6
+ Cash & Securities = $ 987 7
- Debt outstanding = $ 191 8
-Equity options outstanding $ 95 9
Value of Equity in stock = $ 20,447 10
Value per share = $ 250.44
 Revenues Cumulated Cost of Capital
$ 1,932 109.72%
$ 2,801 120.39%
$ 3,921 132.09%
$ 5,294 144.93%
$ 6,882 158.96%
$ 8,259 173.19%
$ 9,497 188.12%
$ 10,637 203.61%
$ 11,488 219.32%
$ 12,177 234.12%
Company Market Value Percent Owned
 OperatingLeaseConverter
Inputs
Operatingleaseexpenseincurrentyear= $43.00
OperatingLeaseCommitments(Fromfootnotetofinancials)
Year Commitment !Year1isnextyear,.
1 $9.38
2 $5.30
3 $4.85
4 $4.05
5 $3.92
6andbeyond $41.68

Output
PretaxCostofDebt= 5.91% !Ifyoudonothaveacostofdebt,usetheratingsestimator

Fromthecurrentfinancialstatements,enterthefollowing
ReportedOperatingIncome(EBIT)= $438.34 !ThisistheEBITreportedinthecurrentincomestatement
ReportedDebt= $254.63 !Thisistheinterestbearingdebtreportedonthebalancesheet

Numberofyearsembeddedinyr6estimate= 8 !Iusetheaverageleaseexpenseoverthefirstfiveyears
toestimatethenumberofyearsofexpensesinyr6
ConvertingOperatingLeasesintodebt
Year Commitment PresentValue
1 $9.38 $8.86
2 $5.30 $4.72
3 $4.85 $4.08
4 $4.05 $3.22
5 $3.92 $2.94
6andbeyond $5.21 $24.36 !Commitmentbeyondyear6convertedintoanannuityfortenyears
DebtValueofleases= $48.18

RestatedFinancials
DepreciationonOperatingLeaseAsset= $3.71 !Iusestraightlinedepreciation
AdjustmenttoOperatingEarnings= $2.85 !PVofoperatingleases*Pretaxcostof
AdjustmenttoTotalDebtoutstanding= $48.18
nverter

urrentincomestatement
eportedonthebalancesheet

verthefirstfiveyears
expensesinyr6

uityfortenyears

usestraightlinedepreciation
PVofoperatingleases*Pretaxcostofdebt
 R&DConverter
ThisspreadsheetconvertsR&Dexpensesfromoperatingtocapitalexpenses.Itmakestheappropriateadjustmentstooperatingincome,net
income,thebookvalueofassetsandthebookvalueofequity.

Inputs
OverhowmanyyearsdoyouwanttoamortizeR&Dexpenses 3 !Ifindoubt,usethelookuptablebelow
Enterthecurrentyear'sR&Dexpense= $34.42 Themaximumallowedistenyears
EnterR&Dexpensesforpastyears:thenumberofyearsthatyouwillneedtoenterwillbedeterminedbytheamortizationperiod
Donotinputnumbersinthefirstcolumn(Year).Itwillgetautomaticallyupdatedbasedontheinputabove.
Year R&DExpenses
1 16.91 !Year1istheyearpriortothecurrentyear
2 7.26 !Year2isthetwoyearspriortothecurrentyear
3 3.27
0 1.24
0 3.84
0
0
0
0
0

Output
Year R&DExpense Unamortizedportion Amortizationthisyear
Current 34.42 1.00 34.42
1 16.91 0.67 11.27 $5.64
2 7.26 0.33 2.42 $2.42
3 3.27 0.00 0.00 $1.09
0 1.24 0.00 0.00 $
0 3.84 0.00 0.00 $
0 0.00 0.00 0.00 $
0 0.00 0.00 0.00 $
0 0.00 0.00 0.00 $
0 0.00 0.00 0.00 $
0 0.00 0.00 0.00 $
ValueofResearchAsset= $48.11 $9.15

Amortizationofassetforcurrentyear= $9.15

AdjustmenttoOperatingIncome= $25.27 !Apositivenumberindicatesanincreaseinoperatingincome(addtorepo

Tax Effect of R&D Expensing $9

Look Up Table for Amortization Periods

IndustryName AmortizationPeriod
Advertising 2
Aerospace/Defe 10 NontechnologicalService 2years
AirTransport 10 Retail,TechService 3years
Aluminum 5 LightManufacturing 5years
Apparel 3 HeavyManufacturing 10years
Auto&Truck 10 Research,withPatenting 10years
AutoParts(OE 5 LongGestationPeriod 10years
AutoParts(Rep 5
Bank 2
Bank(Canadian 2
Bank(Foreign) 2
Bank(Midwest) 2
Beverage(Alcoh 3
Beverage(Soft 3
BuildingMateri 5
CableTV 10
CanadianEnerg 10
Cement&Aggre 10
Chemical(Basic 10
Chemical(Diver 10
Chemical(Speci 10
Coal/Alternate 5
Computer&Per 5
ComputerSoftw 3
Copper 5
DiversifiedCo. 5
Drug 10
Drugstore 3
EducationalSer 3
ElectricUtil.(C 10
ElectricUtility 10
ElectricUtility 10
ElectricalEqui 10
Electronics 5
Entertainment 3
Environmental 5
FinancialServic 2
FoodProcessin 3
FoodWholesale 3
ForeignElectro 5
ForeignTeleco 10
Furn./HomeFur 3
Gold/SilverMin 5
Grocery 2
HealthcareInfo 3
HomeApplianc 5
Homebuilding 5
Hotel/Gaming 3
HouseholdProd 3
IndustrialServi 3
Insurance(Diver 3
Insurance(Life) 3
Insurance(Prop 3
Internet 3
InvestmentCo. 3
InvestmentCo. 3
InvestmentCo. 3
Machinery 10
Manuf.Housing 5
Maritime 10
MedicalService 3
MedicalSupplie 5
MetalFabricati 10
Metals&Mining 5
NaturalGas(Dis 10
NaturalGas(Div 10
Newspaper 3
OfficeEquip& 5
OilfieldService 5
Packaging&Co 5
Paper&Forest 10
Petroleum(Inte 5
Petroleum(Prod 5
PrecisionInstr 5
Publishing 3
R.E.I.T. 3
Railroad 5
Recreation 5
Restaurant 2
Retail(Special 2
RetailBuilding 2
RetailStore 2
SecuritiesBrok 2
Semiconductor 5
Semiconductor 5
Shoe 3
Steel(General) 5
Steel(Integrate 5
Telecom.Equip 10
Telecom.Servic 5
Textile 5
Thrift 2
Tire&Rubber 5
Tobacco 5
Toiletries/Cosm 3
Trucking/Transp 5
Utility(Foreign 10
WaterUtility 10
eadjustmentstooperatingincome,net

findoubt,usethelookuptablebelow
hemaximumallowedistenyears
edbytheamortizationperiod

creaseinoperatingincome(addtoreportedEBIT)
 OtherExpensestoCapitalize
Thisspreadsheetconvertsanyexpensesfromoperatingtocapitalexpenses.Itmakestheappropriateadjustmentstooperatingincome,net
income,thebookvalueofassetsandthebookvalueofequity.

Inputs
Overhowmanyyearsdoyouwanttoamortizetheseexpenses 10
Enterthecurrentyear'soperatingexpense= $206.54 Themaximumallowedistenyears
Enteroperatingexpensesforpastyears:thenumberofyearsthatyouwillneedtoenterwillbedeterminedbytheamortizationperiod
Donotinputnumbersinthefirstcolumn(Year).Itwillgetautomaticallyupdatedbasedontheinputabove.
Year OperatingExpenses
1 99.12 !Year1istheyearpriortothecurrentyear
2 45.07 !Year2isthetwoyearspriortothecurrentyear
3 19.00
4 10.21
5 11.98
6
7
8
9
10

Output
Year R&DExpense Unamortizedportion Amortizationthisyear
Current 206.54 1.00 206.54
1 99.12 0.90 89.20 $9.91
2 45.07 0.80 36.06 $4.51
3 19.00 0.70 13.30 $1.90
4 10.21 0.60 6.13 $1.02
5 11.98 0.50 5.99 $1.20
6 0.00 0.40 0.00 $
7 0.00 0.30 0.00 $
8 0.00 0.20 0.00 $
9 0.00 0.10 0.00 $
10 0.00 0.00 0.00 $
ValueofExpensingAsset= $357.22 $18.54

Amortizationofassetforcurrentyear= $18.54

AdjustmenttoOperatingIncome= $188.00 !Apositivenumberindicatesanincreaseinoperatingincome(add

Tax Effect of Expensing $70
mentstooperatingincome,net

hemaximumallowedistenyears
bytheamortizationperiod

creaseinoperatingincome(addtoreportedEBIT)
Enter the expected growth rate in revenues each year for the next 10 years
Year Expected Growth Rate
1 55.00%
2 45.00%
3 40.00%
4 35.00%
5 30.00%
6 20.00%
7 15.00%
8 12.00%
9 8.00%
10 6.00%
Compounded A 25.60%
ValuingOptionsorWarrants
Enterthecurrentstockprice= $ 161.43
Enterthestrikepriceontheoption= 251.31
Entertheexpirationoftheoption= 9
Enterthestandarddeviationinstockprices= 61.18% (volatility)
Entertheannualizeddividendyieldonstock= 0.00%
Enterthetreasurybondrate= 3.55%
Enterthenumberofwarrants(options)outstandi 1.53631
Enterthenumberofsharesoutstanding= 81.64

Donotinputanynumbersbelowthisline
VALUINGWARRANTSWHENTHEREISDILUTION
StockPrice= 161.42815063 #Warrantsissued= 1.53631
StrikePrice= 251.31 #Sharesoutstanding= 82
AdjustedS(DONOTENTER)= 160.2748313 T.Bondrate= 3.55%
AdjustedK(DONOTENTER) 251.31 Variance= 0.3744
Expiration(inyears)= 9 Annualizeddividendyield= 0.00%
Div.Adj.interestrate= 3.55%

d1= 0.8467822825
N(d1)= 0.8014417572

d2= 0.9887540811
N(d2)= 0.1613917378

Valueperoption= $98.98
Value of all options outstanding = $152
Industry Name Number of firmsLevered Beta Unlevered BeStd Dev: Equity Market D/E
Advertising 31 2.02 1.75 101.29% 43.26%
Aerospace/Defense 64 1.10 1.03 61.32% 25.66%
Air Transport 36 1.21 1.10 64.80% 24.32%
Apparel 57 1.30 1.22 88.82% 18.38%
Auto Parts 51 1.70 1.59 80.58% 27.65%
Automotive 12 1.59 0.96 68.91% 134.57%
Bank 426 0.77 0.38 61.15% 156.11%
Bank (Midwest) 45 0.93 0.73 55.60% 59.52%
Beverage 34 0.88 0.77 66.05% 26.52%
Biotechnology 158 1.03 1.16 113.11% 13.48%
Building Materials 45 1.50 0.89 78.83% 94.33%
Cable TV 21 1.37 0.98 50.77% 68.06%
Chemical (Basic) 16 1.36 1.24 49.27% 27.35%
Chemical (Diversified) 31 1.51 1.39 56.31% 22.37%
Chemical (Specialty) 70 1.28 1.15 71.60% 21.15%
Coal 20 1.53 1.32 55.52% 28.90%
Computer Software 184 1.04 1.18 82.03% 7.49%
Computers/Peripherals 87 1.30 1.33 97.69% 10.23%
Diversified Co. 107 1.14 0.71 75.00% 102.24%
Drug 279 1.12 1.08 103.44% 15.46%
E-Commerce 57 1.03 1.08 88.13% 6.40%
Educational Services 34 0.83 0.92 78.24% 12.33%
Electric Util. (Central) 21 0.75 0.48 23.37% 86.16%
Electric Utility (East) 21 0.70 0.49 18.30% 66.16%
Electric Utility (West) 14 0.75 0.49 19.85% 84.54%
Electrical Equipment 68 1.33 1.35 67.76% 12.66%
Electronics 139 1.07 1.08 89.93% 22.33%
Engineering & Const 25 1.22 1.39 65.03% 11.99%
Entertainment 77 1.63 1.31 108.37% 40.99%
Entertainment Tech 40 1.23 1.48 76.91% 9.76%
Environmental 82 0.81 0.60 92.14% 43.70%
Financial Svcs. (Div.) 225 1.31 0.50 82.27% 251.49%
Food Processing 112 0.91 0.77 60.68% 29.53%
Foreign Electronics 9 1.09 1.24 35.40% 42.09%
Funeral Services 6 1.14 0.85 39.35% 56.60%
Furn/Home Furnishings 35 1.81 1.65 80.90% 24.39%
Healthcare Information 25 1.17 1.20 65.79% 6.35%
Heavy Truck & Equip 21 1.80 1.48 69.92% 43.66%
Homebuilding 23 1.45 1.02 70.00% 100.28%
Hotel/Gaming 51 1.74 1.28 79.09% 52.07%
Household Products 26 1.07 0.95 62.24% 18.99%
Human Resources 23 1.24 1.40 78.27% 10.31%
Industrial Services 137 0.93 0.81 74.43% 32.71%
Information Services 27 1.07 0.89 48.10% 30.21%
Insurance (Life) 30 1.58 1.54 53.35% 64.14%
Insurance (Prop/Cas.) 49 0.91 1.01 37.88% 23.60%
Internet 186 1.09 1.24 117.09% 2.71%
IT Services 60 1.06 1.14 69.45% 6.09%
Machinery 100 1.20 1.14 57.21% 19.12%
Maritime 52 1.40 0.58 69.19% 170.38%
Med Supp Invasive 83 0.85 0.80 79.18% 16.08%
Med Supp Non-Invasive 146 1.03 1.07 84.89% 13.02%
Medical Services 122 0.91 0.78 76.26% 49.45%
Metal Fabricating 24 1.59 1.63 68.98% 15.49%
Metals & Mining (Div.) 73 1.33 1.28 104.38% 14.10%
Natural Gas (Div.) 29 1.33 1.06 48.77% 37.07%
Natural Gas Utility 22 0.66 0.46 24.90% 67.38%
Newspaper 13 1.76 1.42 90.74% 46.35%
Office Equip/Supplies 24 1.38 1.04 64.26% 63.03%
Oil/Gas Distribution 13 0.96 0.65 56.61% 58.30%
Oilfield Svcs/Equip. 93 1.55 1.39 62.37% 22.92%
Packaging & Container 26 1.16 0.88 41.59% 51.82%
Paper/Forest Products 32 1.36 0.96 93.84% 59.86%
Petroleum (Integrated) 20 1.18 1.12 38.99% 19.19%
Petroleum (Producing) 176 1.34 1.13 88.11% 24.88%
Pharmacy Services 19 1.12 1.00 59.43% 20.48%
Pipeline MLPs 27 0.98 0.72 34.90% 40.97%
Power 93 1.35 0.65 97.19% 148.82%
Precious Metals 84 1.15 1.14 90.87% 8.20%
Precision Instrument 77 1.28 1.33 65.33% 15.94%
Property Management 31 1.13 0.59 82.21% 140.63%
Public/Private Equity 11 2.18 1.62 77.54% 59.87%
Publishing 24 1.25 0.89 64.98% 63.28%
R.E.I.T. 5 1.47 1.15 49.61% 34.71%
Railroad 12 1.44 1.24 42.95% 25.15%
Recreation 56 1.45 1.11 70.55% 48.69%
Reinsurance 13 0.93 1.05 30.40% 23.54%
Restaurant 63 1.27 1.19 68.37% 12.77%
Retail (Hardlines) 75 1.77 1.65 92.79% 24.33%
Retail (Softlines) 47 1.44 1.57 60.91% 5.61%
Retail Automotive 20 1.37 1.12 52.02% 38.11%
Retail Building Supply 8 1.04 0.97 37.61% 14.06%
Retail Store 37 1.29 1.14 67.71% 25.58%
Retail/Wholesale Food 30 0.75 0.64 40.02% 41.34%
Securities Brokerage 28 1.20 0.43 44.31% 430.56%
Semiconductor 141 1.50 1.69 70.52% 8.35%
Semiconductor Equip 12 1.79 2.42 68.70% 15.20%
Shoe 19 1.25 1.38 55.52% 2.18%
Steel 32 1.68 1.40 56.94% 46.40%
Telecom. Equipment 99 1.02 1.28 87.77% 12.96%
Telecom. Services 74 0.98 0.82 68.58% 34.09%
Telecom. Utility 25 0.88 0.54 60.40% 96.15%
Thrift 148 0.71 0.75 53.93% 29.33%
Tobacco 11 0.85 0.78 41.53% 18.71%
Toiletries/Cosmetics 15 1.30 1.20 60.34% 20.64%
Trucking 36 1.24 1.08 59.88% 27.77%
Utility (Foreign) 4 0.96 0.48 32.68% 155.03%
Water Utility 11 0.66 0.43 18.89% 81.42%
Wireless Networking 57 1.27 1.12 75.03% 27.06%
Total Market 5891 1.15 0.92 75.08% 46.64%
Market Debt/Capital ROE ROC Effective Tax Rate Pre-tax Oper
30.20% 8.89% 10.54% 10.73% 10.27%
20.42% 34.00% 18.53% 20.72% 10.16%
19.56% 108.90% 16.45% 20.54% 8.78%
15.53% 17.34% 14.02% 16.08% 10.97%
21.66% 22.59% 15.82% 18.99% 6.49%
57.37% 18.46% 6.96% 24.07% 6.99%
60.95% 7.60% NA 15.97% NA
37.31% 9.08% NA 17.77% NA
20.96% 24.58% 12.95% 19.14% 20.45%
11.88% 15.15% -13.33% 2.49% -7.79%
48.54% -5.17% 2.58% 11.17% 4.17%
40.50% 16.13% 8.80% 27.35% 19.58%
21.47% 25.83% 13.66% 20.90% 12.09%
18.28% 19.26% 13.81% 21.73% 13.20%
17.46% 18.50% 12.25% 17.58% 11.10%
22.42% 24.24% 15.26% 12.75% 15.94%
6.97% 79.13% 45.06% 12.27% 31.35%
9.28% 52.52% 32.09% 11.77% 14.15%
50.55% 33.28% 8.01% 15.55% 14.09%
13.39% 22.64% 15.02% 5.36% 21.91%
6.02% 16.47% 13.08% 12.33% 14.39%
10.97% 53.22% 34.34% 25.17% 20.80%
46.28% 10.77% 6.38% 31.82% 17.72%
39.82% 11.91% 6.89% 33.14% 19.13%
45.81% 9.88% 6.11% 31.30% 16.79%
11.24% 23.02% 15.03% 17.02% 13.19%
18.25% 22.20% 15.72% 10.36% 5.99%
10.71% 15.44% 13.58% 26.26% 4.72%
29.07% 11.46% 9.45% 15.38% 17.72%
8.89% 15.08% 11.69% 11.59% 10.48%
30.41% 11.00% 7.56% 11.71% 15.22%
71.55% ### 5.95% 19.18% 43.49%
22.80% 17.85% 11.88% 20.00% 9.08%
29.62% 6.25% 7.83% 35.12% 5.27%
36.14% 12.34% 7.81% 30.84% 15.64%
19.61% 11.66% 9.50% 20.43% 6.43%
5.97% 11.00% 9.45% 22.19% 12.11%
30.39% 30.24% 10.88% 20.62% 9.13%
50.07% -35.82% -2.09% 5.12% -1.56%
34.24% 5.64% 6.95% 14.53% 12.61%
15.96% 21.80% 14.52% 25.12% 17.38%
9.35% 7.25% 7.67% 25.35% 1.91%
24.65% 13.76% -53.50% 19.03% -21.40%
23.20% 15.60% 10.83% 18.93% 19.33%
39.08% 10.45% NA 28.04% NA
19.10% 13.32% NA 19.36% NA
2.63% 39.73% 32.75% 6.87% 18.25%
5.74% 36.11% 26.95% 19.15% 14.43%
16.05% 14.59% 12.60% 22.15% 11.05%
63.01% 4.88% 4.76% 5.55% 14.81%
13.85% 22.13% 15.88% 11.86% 22.22%
11.52% 29.56% 19.24% 12.73% 6.48%
33.09% 32.81% 18.55% 19.93% 11.11%
13.41% 18.66% 14.78% 26.55% 15.07%
12.36% 24.79% 19.48% 11.04% 31.57%
27.04% 9.04% 7.10% 21.98% 28.94%
40.26% 10.98% 8.09% 30.16% 12.80%
31.67% 16.73% 11.05% 25.13% 14.59%
38.66% 18.05% 10.36% 21.05% 6.65%
36.83% 11.35% 6.83% 13.70% 18.45%
18.64% 10.48% 8.54% 17.39% 15.11%
34.13% 17.52% 10.40% 24.23% 10.12%
37.45% 8.40% 11.01% 10.61% 12.01%
16.10% 14.76% 10.08% 27.41% 9.76%
19.92% 9.46% 13.50% 11.14% 25.74%
17.00% 14.82% 11.18% 24.67% 5.11%
29.06% 12.71% 8.60% 6.37% 8.95%
59.81% 6.95% 7.56% 8.66% 14.54%
7.57% 9.09% 9.57% 7.51% 33.30%
13.75% 15.37% 12.10% 13.94% 10.74%
58.44% 10.74% 5.18% 18.59% 15.63%
37.45% 35.96% -0.14% 3.79% -2.58%
38.76% 31.94% 11.38% 18.55% 12.10%
25.77% 15.58% 14.07% 1.04% 129.07%
20.09% 16.43% 11.10% 23.74% 28.43%
32.75% 11.06% 8.26% 17.37% 11.51%
19.06% 13.29% NA 7.22% NA
11.32% 38.25% 20.32% 21.57% 15.82%
19.57% 22.91% 14.99% 23.04% 7.50%
5.32% 36.27% 28.74% 24.64% 9.39%
27.59% 20.53% 9.89% 34.43% 6.88%
12.33% 16.06% 12.18% 31.39% 8.13%
20.37% 21.01% 13.60% 25.02% 5.84%
29.25% 16.43% 10.38% 31.21% 3.18%
81.15% NA 10.39% 26.22% 48.78%
7.70% 39.10% 28.41% 11.01% 22.76%
13.20% 65.76% 40.44% 15.17% 21.65%
2.13% 30.49% 27.41% 24.31% 11.34%
31.69% 7.28% 5.94% 21.03% 5.83%
11.48% 29.93% 23.30% 13.16% 10.87%
25.42% 16.47% 13.70% 14.22% 22.74%
49.02% 18.29% 8.34% 29.42% 15.83%
22.68% -2.14% NA 12.43% NA
15.76% 74.21% 27.98% 31.03% 20.61%
17.11% 62.53% 19.54% 20.30% 10.85%
21.73% 8.19% 9.07% 25.48% 6.37%
60.79% 3.12% 4.56% 26.07% 11.60%
44.88% 8.44% 5.42% 35.22% 26.61%
21.30% 21.34% -18.21% 12.12% -11.47%
31.81% 16.07% 12.21% 15.48% 17.24%
After-tax Operating Net Margin Cap Ex/ Depreciati Non-cash WC/ Payout Ratio
7.44% 3.63% 54.18% -19.84% 43.75%
7.31% 6.78% 126.28% 2.89% 29.13%
6.86% 3.76% 122.22% -9.25% 18.91%
7.60% 6.72% 103.24% 17.24% 18.85%
4.98% 5.10% 96.08% 5.59% 23.74%
4.94% 3.36% 87.04% 19.37% 22.24%
NA NA NA NA 33.53%
NA NA NA NA 38.36%
15.60% 13.99% 87.24% 1.08% 46.35%
-13.73% 9.11% 84.42% -5.83% 59.34%
3.16% -4.01% 48.00% 7.66% NA
12.43% 9.02% 85.32% -9.65% 18.03%
9.56% 12.46% 126.81% 9.68% 30.79%
9.30% 8.79% 104.37% 15.58% 31.68%
7.87% 8.04% 96.78% 12.60% 40.43%
12.53% 12.00% 141.73% 3.61% 33.78%
24.62% 24.78% 64.72% -11.16% 21.61%
10.83% 10.74% 103.58% -1.97% 8.61%
11.76% 9.21% 89.24% 71.65% 36.81%
16.96% 17.99% 37.39% 7.53% 49.12%
10.87% 10.73% 128.44% -11.60% 1.89%
12.91% 11.86% 131.38% -7.82% 2.83%
11.58% 8.89% 158.54% 8.98% 63.88%
12.66% 9.77% 201.07% 8.33% 66.22%
11.38% 8.53% 210.61% -0.59% 56.70%
9.95% 12.12% 86.14% 12.28% 29.40%
4.48% 4.63% 103.97% 10.63% 11.97%
3.35% 3.47% 84.23% 3.30% 6.31%
12.17% 10.12% 79.38% 1.72% 25.84%
9.04% 9.62% 78.89% -17.91% 11.57%
9.48% 7.53% 96.46% 0.48% 46.73%
33.84% 5.08% 312.33% 11.08% NA
6.52% 5.36% 139.77% 8.01% 45.25%
3.23% 1.83% 73.66% 1.47% 51.37%
9.82% 7.48% 78.63% 3.76% 49.81%
4.58% 3.76% 65.82% 13.45% 27.83%
7.64% 8.81% 58.33% 2.00% 12.22%
6.64% 8.48% 99.81% 24.35% 34.22%
-2.09% -5.64% 59.80% 76.53% NA
10.13% 6.29% 109.45% -2.12% 40.37%
12.79% 11.66% 117.15% 4.70% 48.97%
1.18% 1.66% 69.60% 4.81% 50.59%
-23.67% 3.26% 127.45% 10.25% 24.98%
15.06% 11.94% 64.40% -1.61% 38.73%
NA NA NA NA 29.39%
NA NA 9812.35% NA 23.46%
14.58% 16.00% 154.37% -8.44% 0.66%
10.32% 10.59% 76.10% 2.88% 32.87%
8.22% 7.26% 75.32% 16.27% 25.38%
13.69% 0.78% 316.85% 3.32% 25.25%
17.28% 16.64% 84.88% 22.14% 22.91%
4.81% 4.89% 78.77% 3.04% 37.29%
7.39% 4.84% 91.90% -5.59% 8.82%
10.89% 7.84% 154.15% 18.02% 25.70%
21.88% 7.36% 158.10% 6.22% 33.51%
17.50% 12.72% 297.08% -4.26% 33.81%
8.57% 5.10% 184.03% 5.53% 67.28%
9.02% 3.11% 45.60% -3.13% 14.56%
4.59% 4.07% 61.17% 6.78% 28.06%
14.46% 9.80% 280.22% -0.01% 73.98%
11.28% 10.72% 143.22% 16.89% 41.88%
7.02% 13.46% 92.61% 9.01% 24.38%
9.84% 4.63% 54.63% 10.19% 43.21%
5.65% 7.99% 192.87% 1.98% 38.99%
19.10% 10.69% 192.31% 2.28% 9.50%
3.14% 2.91% 99.52% 3.68% 20.26%
8.68% 7.11% 184.61% 0.88% 33.53%
10.88% 1.49% 181.13% 10.94% 13.75%
24.02% 30.24% 203.00% 7.21% 26.71%
8.80% 9.57% 48.46% 15.14% 11.24%
12.95% 9.18% 227.63% -3.02% 27.66%
-0.48% 62.30% 554.33% 31.62% 17.28%
8.33% 6.22% 75.65% 0.81% 25.02%
126.01% 113.55% 89.50% -10.12% 91.36%
18.56% 17.86% 175.52% -1.76% 34.63%
9.26% 7.28% 174.70% -0.96% 42.67%
NA NA NA NA 15.87%
11.17% 10.70% 124.28% -4.82% 46.73%
4.99% 3.86% 219.62% 8.40% 19.62%
5.82% 5.56% 96.55% 3.40% 21.08%
4.46% 4.35% 140.44% 13.56% 2.49%
5.13% 5.14% 78.27% 5.88% 47.32%
3.83% 3.45% 129.02% 0.88% 29.16%
2.07% 4.16% 120.58% -0.01% 28.62%
35.58% 11.45% 86.69% 123.16% 10.93%
18.13% 17.82% 108.32% 6.93% 30.53%
18.30% 16.30% 105.87% 12.51% 11.30%
8.22% 8.44% 123.84% 16.28% 25.89%
4.90% 3.52% 66.43% 11.41% 34.26%
8.53% 7.22% 60.98% -3.38% 53.72%
16.56% 5.11% 95.55% -12.38% 43.63%
11.21% 8.50% 76.44% -7.76% 80.94%
NA NA NA NA NA
15.24% 8.46% 64.69% -2.44% 67.56%
7.24% 7.37% 114.16% 8.55% 25.04%
4.20% 2.74% 156.92% 5.03% 41.07%
7.81% 0.55% 164.69% 7.52% 0.32%
18.05% 12.25% 250.02% 7.51% 48.16%
-15.91% 7.96% 85.53% 7.62% 9.13%
12.62% 8.32% 125.47% 7.01% 37.92%
Reinvestment Sales/Capital EV/Sales
-46.14% 1.42 1.14
14.77% 2.53 0.93
5.54% 2.40 1.78
22.13% 1.85 1.19
15.16% 3.18 0.59
-22.37% 1.41 0.73
0.00% NA NA
0.00% NA NA
-2.46% 0.83 3.03
NA 0.97 4.49
-106.83% 0.82 1.22
-30.82% 0.71 2.21
29.24% 1.43 1.52
47.92% 1.48 1.62
12.99% 1.56 1.56
37.48% 1.22 1.78
-9.05% 1.83 3.07
1.22% 2.96 1.39
1.67% 0.68 2.11
-28.69% 0.89 2.85
-2.56% 1.20 4.55
8.07% 2.66 1.14
56.89% 0.55 2.26
82.35% 0.54 2.51
117.43% 0.54 2.19
9.17% 1.51 1.54
18.61% 3.51 0.47
-9.01% 4.05 0.46
-9.30% 0.78 1.89
-25.03% 1.29 1.87
-0.26% 0.80 2.07
13.38% 0.18 6.67
25.88% 1.82 1.08
-39.15% 2.43 0.37
-3.51% 0.79 1.86
-12.43% 2.08 0.92
-40.14% 1.24 3.82
94.67% 1.64 1.34
NA 1.00 1.23
-0.79% 0.69 2.58
5.97% 1.13 2.21
27.53% 6.48 0.29
NA 2.26 0.85
-23.97% 0.72 2.94
0.24% NA NA
57.73% NA NA
4.82% 2.25 3.91
-4.73% 2.61 1.75
8.44% 1.53 1.37
215.04% 0.35 2.69
1.50% 0.92 2.52
-3.21% 4.00 0.73
-25.53% 2.51 0.68
32.62% 1.36 1.67
23.26% 0.89 2.47
276.48% 0.41 3.37
49.96% 0.94 1.45
-32.30% 1.23 1.31
-20.89% 2.26 0.55
124.00% 0.47 3.56
70.61% 0.76 2.38
108.81% 1.48 1.06
-26.89% 1.12 1.06
87.67% 1.78 0.87
64.09% 0.71 2.20
5.55% 3.56 0.53
43.79% 0.99 1.97
64.25% 0.69 1.48
62.24% 0.40 5.33
2.04% 1.38 1.64
137.37% 0.40 2.85
NA 0.30 3.43
-8.51% 1.37 1.15
-1.96% 0.11 14.13
36.17% 0.60 3.44
50.56% 0.89 1.60
50.50% NA NA
8.36% 1.82 2.50
86.40% 3.00 0.83
0.99% 4.94 0.87
40.76% 2.22 0.92
-6.28% 2.37 1.04
14.97% 3.55 0.59
23.06% 5.02 0.35
-126.66% 0.29 3.08
5.83% 1.57 2.06
2.58% 2.21 0.97
19.07% 3.33 1.52
-6.39% 1.21 0.78
-21.25% 2.73 1.25
-5.54% 0.83 1.85
-37.32% 0.74 1.75
0.00% NA NA
-4.20% 1.84 2.36
13.39% 2.70 1.48
94.07% 2.16 1.28
132.29% 0.58 1.39
107.15% 0.30 4.39
NA 1.14 1.91
8.65% 0.97 1.67