Frequency Electronics, Inc. (FEIM)

Analysis: Growth Rates Industry: Communication Equipment Sector: Technology Live Price: $58.64

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	70.61%	24.25%	12.40%	8.90%	8.73%	7.02%	16.02%
Slope	52.25%	16.07%	2.73%	1.25%	1.56%	-0.33%	0.03%
CAGR	69.03%	14.72%	6.98%	4.33%	1.53%	0.79%	6.11%
LSR	69.03%	13.51%	1.35%	0.65%	1.83%	-0.26%	0.41%
Market Capitalization
Avg YoY	70.49%	24.34%	12.62%	8.97%	8.74%	7.02%	15.91%
Slope	52.17%	16.28%	2.88%	1.48%	1.66%	-0.24%	0.16%
CAGR	69.03%	14.94%	7.27%	4.42%	1.62%	0.91%	6.27%
LSR	69.03%	13.74%	1.50%	0.88%	1.91%	-0.19%	0.52%
(-) Cash & Equivalents
Avg YoY	131.41%	28.73%	45.93%	33.42%	59.68%	51.93%	64.41%
Slope	121.51%	-5.65%	4.40%	1.69%	0.81%	0.91%	-0.68%
CAGR	—	-17.50%	-3.56%	-1.77%	2.56%	2.83%	-5.03%
LSR	—	—	—	—	—	—	—
(+) Total Debt
Avg YoY	9.58%	-1.87%	-24.45%	-9.77%	82.70%	147.34%	110.82%
Slope	5.88%	-7.67%	11.45%	-2.66%	2.81%	5.68%	2.47%
CAGR	5.56%	-4.38%	3.45%	-2.53%	—	10.50%	-2.10%
LSR	5.56%	-7.33%	—	—	—	—	—
Enterprise Value
Avg YoY	65.04%	26.83%	14.10%	9.84%	11.52%	9.39%	18.98%
Slope	45.91%	15.89%	3.35%	1.14%	1.80%	0.03%	0.35%
CAGR	52.81%	15.50%	7.54%	4.11%	1.86%	1.05%	6.99%
LSR	52.81%	12.94%	2.06%	0.56%	2.27%	0.14%	0.75%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	30.93%	8.83%	4.12%	3.91%	3.10%	3.50%	6.70%
Slope	26.26%	7.10%	1.61%	-1.73%	-0.65%	0.44%	1.84%
CAGR	30.84%	6.51%	1.62%	1.96%	1.48%	1.47%	3.59%
LSR	30.84%	6.60%	1.42%	-1.75%	-0.75%	0.45%	2.27%
Cost of Revenue
Avg YoY	9.83%	2.24%	0.37%	2.03%	1.72%	2.07%	7.06%
Slope	9.31%	0.47%	-0.10%	-1.03%	-0.42%	0.64%	2.17%
CAGR	9.82%	1.56%	-0.07%	1.28%	0.79%	1.07%	3.32%
LSR	9.82%	0.45%	-0.10%	-0.94%	-0.38%	0.74%	2.89%
Gross Profit
Avg YoY	99.36%	35.20%	41.85%	27.32%	22.21%	21.89%	21.21%
Slope	59.04%	22.14%	6.10%	-3.33%	-1.18%	-0.02%	1.11%
CAGR	95.82%	15.48%	4.40%	2.97%	2.56%	2.05%	3.98%
LSR	95.82%	21.20%	5.19%	-4.21%	-2.16%	-0.59%	0.75%
Gross Margin
Avg YoY	51.45%	17.02%	22.62%	13.91%	12.21%	10.75%	9.80%
Slope	37.29%	13.68%	3.92%	-2.12%	-1.02%	-0.75%	-1.31%
CAGR	49.66%	8.43%	2.73%	1.00%	1.06%	0.58%	0.38%
LSR	49.66%	13.69%	3.72%	-2.50%	-1.41%	-1.04%	-1.49%
R&D Expenses
Avg YoY	43.55%	14.12%	4.17%	4.68%	3.48%	4.49%	14.98%
Slope	34.83%	2.64%	-5.33%	-1.15%	-1.89%	-0.93%	0.91%
CAGR	38.91%	6.69%	0.27%	1.29%	-0.18%	0.95%	6.07%
LSR	38.91%	1.32%	-5.65%	-1.45%	-1.92%	-1.02%	1.98%
SG&A Expenses
Avg YoY	14.67%	-0.47%	0.11%	1.31%	1.48%	2.49%	6.77%
Slope	13.74%	-2.89%	-1.36%	-1.68%	-0.32%	0.62%	1.48%
CAGR	14.51%	-1.75%	-0.80%	0.54%	0.77%	1.39%	2.33%
LSR	14.51%	-2.73%	-1.41%	-1.69%	-0.34%	0.72%	1.89%
Operating Expenses
Avg YoY	21.86%	3.01%	0.72%	1.63%	1.32%	3.19%	4.69%
Slope	19.72%	-1.33%	-2.62%	-1.52%	-0.82%	0.05%	0.92%
CAGR	21.11%	0.67%	-0.45%	0.78%	0.44%	2.12%	2.61%
LSR	21.11%	-1.49%	-2.75%	-1.63%	-0.88%	0.10%	1.15%
Operating Income (EBIT)
Avg YoY	-36.84%	155.87%	14.25%	7.81%	-7.35%	-613.18%	-506.19%
Slope	203.71%	623.37%	44.47%	-82.21%	-7.59%	0.45%	2.38%
CAGR	—	—	27.67%	9.05%	10.67%	2.88%	8.86%
LSR	—	—	—	—	—	—	—
Operating Margin
Avg YoY	-47.09%	179.30%	24.47%	11.75%	-2.41%	-789.03%	-658.89%
Slope	293.83%	789.61%	29.62%	-23.16%	-9.79%	-0.93%	1.75%
CAGR	—	—	25.63%	6.95%	9.05%	1.39%	5.09%
LSR	—	—	—	—	—	—	—
Interest Income
Avg YoY	—	—	—	-100.00%	-71.99%	-71.99%	-71.99%
Slope	150.00%	100.00%	54.55%	-8.41%	-1.62%	3.77%	5.95%
CAGR	—	—	—	1.97%	—	—	—
LSR	—	—	—	—	—	—	—
Interest Expense
Avg YoY	-17.36%	7.13%	5.37%	5.39%	-1.76%	-7.22%	-7.22%
Slope	-21.14%	-1.22%	-0.77%	-2.41%	-2.87%	1.20%	4.17%
CAGR	-18.35%	-4.87%	-2.53%	-0.90%	—	—	—
LSR	-18.35%	-0.52%	-0.58%	-2.37%	—	—	—
Net Interest Income
Avg YoY	-255.43%	-111.91%	-47.53%	-86.74%	-88.29%	-88.94%	-88.94%
Slope	571.00%	974.07%	48.30%	-33.21%	6.38%	3.95%	-0.59%
CAGR	—	—	—	2.93%	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	4.62%	-28.61%	-82.03%	-98.35%	-89.56%	-59.55%	-44.40%
Slope	1,034.52%	4.49%	-24.49%	-12.30%	-17.10%	-12.06%	-9.76%
CAGR	—	-10.81%	2.85%	5.67%	-8.96%	-4.17%	-3.00%
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	4.62%	-28.61%	-82.03%	-98.35%	-89.56%	-59.55%	-44.40%
Slope	-1,034.52%	-4.49%	24.49%	12.30%	17.10%	12.06%	9.76%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
EBT excl. Unusual
Avg YoY	-33.94%	-181.33%	-81.66%	-52.21%	216.51%	171.95%	145.56%
Slope	232.96%	386.76%	47.91%	-115.31%	-37.68%	-18.85%	-12.91%
CAGR	—	64.23%	18.97%	8.81%	0.62%	0.87%	3.34%
LSR	—	—	—	—	—	—	—
Pre-Tax Income
Avg YoY	-39.21%	-508.88%	-246.76%	-158.22%	-155.10%	-56.02%	-46.91%
Slope	216.37%	468.86%	46.01%	-3,295.26%	-232.46%	-44.12%	-20.90%
CAGR	—	124.74%	21.69%	9.08%	3.24%	1.63%	4.94%
LSR	—	—	—	—	—	—	—
Pre-Tax Margin
Avg YoY	-49.15%	-567.08%	-265.40%	-172.61%	-170.87%	-86.12%	-80.87%
Slope	329.64%	986.01%	28.83%	-31.33%	-32.30%	-27.00%	-82.10%
CAGR	—	111.02%	19.75%	6.99%	1.73%	0.16%	1.30%
LSR	—	—	—	—	—	—	—
Income Tax Expense
Avg YoY	4,251.39%	3,925.57%	1,264.19%	782.18%	600.43%	514.49%	404.88%
Slope	-150.23%	-96.63%	-277.66%	-477.68%	-101.20%	-40.75%	-23.81%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Income
Avg YoY	61.90%	-321.67%	-152.70%	-106.19%	-178.29%	-54.30%	0.53%
Slope	183.95%	190.11%	90.59%	-185.59%	-3.02%	-374.79%	-21.68%
CAGR	—	143.24%	42.14%	10.32%	8.79%	6.18%	7.66%
LSR	—	—	—	—	—	—	—
Net Margin
Avg YoY	30.94%	-373.51%	-162.76%	-114.29%	-197.32%	-89.06%	-5.96%
Slope	232.31%	333.81%	47.30%	-10.77%	-11.40%	-10.18%	-175.98%
CAGR	—	128.38%	39.87%	8.21%	7.21%	4.64%	3.93%
LSR	—	—	—	—	—	—	—
Depreciation & Amortization
Avg YoY	-7.99%	-10.97%	-2.42%	1.09%	1.11%	2.15%	2.78%
Slope	-8.60%	-13.11%	-2.05%	0.67%	1.87%	2.26%	1.82%
CAGR	-8.11%	-11.17%	-3.04%	0.42%	0.50%	1.48%	1.59%
LSR	-8.11%	-12.20%	-2.33%	0.63%	1.93%	2.38%	1.90%
EBITDA
Avg YoY	-163.08%	-173.87%	5,477.94%	3,521.58%	2,602.17%	2,037.51%	1,675.78%
Slope	128.60%	109.36%	531.20%	-13.00%	-0.53%	4.18%	6.02%
CAGR	—	55.75%	14.69%	6.89%	7.35%	2.64%	6.37%
LSR	—	—	—	—	—	—	—
EBITDA Margin
Avg YoY	-141.32%	-167.53%	6,565.73%	4,218.94%	3,122.25%	2,440.77%	2,007.88%
Slope	139.26%	128.21%	87.54%	-29.48%	-10.39%	8.24%	7.54%
CAGR	—	46.24%	12.86%	4.83%	5.79%	1.15%	2.68%
LSR	—	—	—	—	—	—	—
NOPAT
Avg YoY	-36.84%	155.87%	14.25%	7.81%	-7.35%	-613.18%	-506.19%
Slope	203.71%	623.37%	44.47%	-82.21%	-7.59%	0.45%	2.38%
CAGR	—	—	27.67%	9.05%	10.67%	2.88%	8.86%
LSR	—	—	—	—	—	—	—
NOPAT Margin
Avg YoY	-47.09%	179.30%	24.47%	11.75%	-2.41%	-789.03%	-658.89%
Slope	293.83%	789.61%	29.62%	-23.16%	-9.79%	-0.93%	1.75%
CAGR	—	—	25.63%	6.95%	9.05%	1.39%	5.09%
LSR	—	—	—	—	—	—	—
Owner's Earnings
Avg YoY	15.02%	-97.57%	-325.37%	-218.04%	-251.77%	-217.48%	-175.14%
Slope	159.95%	130.81%	127.51%	94.80%	1,085.69%	-2.73%	-12.87%
CAGR	—	72.09%	64.01%	10.43%	9.14%	6.62%	6.57%
LSR	—	—	—	—	—	—	—
Owner's Earnings Margin
Avg YoY	-4.71%	-113.42%	-374.03%	-251.60%	-291.48%	-258.60%	-210.40%
Slope	184.56%	168.01%	61.39%	-2.05%	-7.78%	-9.63%	-58.21%
CAGR	—	61.58%	61.39%	8.31%	7.55%	5.08%	2.88%
LSR	—	—	—	—	—	—	—
EPS (Basic)
Avg YoY	59.87%	-319.77%	-152.59%	-106.41%	-181.50%	-58.63%	-4.79%
Slope	185.61%	195.73%	81.67%	-464.21%	-18.24%	-1,724.54%	-23.22%
CAGR	—	140.46%	40.63%	9.14%	8.12%	5.48%	6.46%
LSR	—	—	—	—	—	—	—
EPS (Diluted)
Avg YoY	58.49%	-322.89%	-155.25%	-108.28%	-183.37%	-61.10%	-5.96%
Slope	185.37%	195.56%	81.77%	-147.42%	-13.29%	-130.80%	-25.03%
CAGR	—	140.93%	41.00%	9.24%	8.22%	5.60%	6.61%
LSR	—	—	—	—	—	—	—
Shares (Basic)
Avg YoY	1.44%	1.15%	1.07%	1.09%	0.63%	0.67%	1.15%
Slope	1.43%	1.15%	1.09%	1.06%	0.70%	0.56%	0.77%
CAGR	1.44%	1.15%	1.07%	1.09%	0.62%	0.66%	1.13%
LSR	1.44%	1.15%	1.10%	1.07%	0.70%	0.56%	0.79%
Shares (Diluted)
Avg YoY	1.44%	0.96%	0.81%	1.00%	0.55%	0.56%	1.00%
Slope	1.43%	0.94%	0.94%	0.83%	0.62%	0.48%	0.66%
CAGR	1.44%	0.96%	0.81%	1.00%	0.53%	0.55%	0.98%
LSR	1.44%	0.94%	0.95%	0.84%	0.62%	0.48%	0.67%

Product Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
GovernmentNonSpaceRevenueMember
Avg YoY	43.50%	43.50%	43.50%	43.50%	43.50%
Slope	35.73%	35.73%	35.73%	35.73%	35.73%
CAGR	43.50%	43.50%	43.50%	43.50%	43.50%
LSR	—	—	—	—	—
OtherCommercialIndustrialRevenueMember
Avg YoY	-40.86%	-40.86%	-40.86%	-40.86%	-40.86%
Slope	-51.35%	-51.35%	-51.35%	-51.35%	-51.35%
CAGR	-40.86%	-40.86%	-40.86%	-40.86%	-40.86%
LSR	—	—	—	—	—
SatelliteRevenueMember
Avg YoY	29.62%	29.62%	29.62%	29.62%	29.62%
Slope	25.80%	25.80%	25.80%	25.80%	25.80%
CAGR	29.62%	29.62%	29.62%	29.62%	29.62%
LSR	—	—	—	—	—
Frequency Electronics Inc New York
Avg YoY	-32.20%	-32.20%	-32.20%	-32.20%	-32.20%
Slope	-38.38%	-38.38%	-38.38%	-38.38%	-38.38%
CAGR	-32.20%	-32.20%	-32.20%	-32.20%	-32.20%
LSR	—	—	—	—	—
Frequency Electronics Inc Zyfer
Avg YoY	12.58%	19.36%	19.36%	19.36%	19.36%
Slope	11.04%	16.44%	16.44%	16.44%	16.44%
CAGR	12.10%	18.65%	18.65%	18.65%	18.65%
LSR	12.10%	19.07%	19.07%	19.07%	19.07%
Inter Segment
Avg YoY	32.78%	15.19%	15.19%	15.19%	15.19%
Slope	12.71%	9.38%	9.38%	9.38%	9.38%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Foreign Revenue
Avg YoY	2.85%	2.85%	2.85%	2.85%	2.85%
Slope	2.81%	2.81%	2.81%	2.81%	2.81%
CAGR	2.85%	2.85%	2.85%	2.85%	2.85%
LSR	—	—	—	—	—

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
BELGIUM
Avg YoY	-26.63%	-52.60%	-44.21%	-44.21%	-44.21%
Slope	-30.19%	-92.45%	-66.25%	-66.25%	-66.25%
CAGR	-26.67%	-68.56%	-61.25%	-61.25%	-61.25%
LSR	-26.67%	-64.99%	-65.76%	-65.76%	-65.76%
CHINA
Avg YoY	-36.37%	-42.21%	-45.22%	-45.22%	-45.22%
Slope	-42.82%	-50.81%	-53.39%	-53.39%	-53.39%
CAGR	-36.64%	-42.70%	-45.96%	-45.96%	-45.96%
LSR	-36.64%	-42.56%	-45.35%	-45.35%	-45.35%
FRANCE
Avg YoY	61.11%	-6.05%	-20.82%	-20.82%	-20.82%
Slope	-17.55%	-76.53%	-74.80%	-74.80%	-74.80%
CAGR	-12.62%	-51.80%	-59.55%	-59.55%	-59.55%
LSR	-12.62%	-56.81%	-64.09%	-64.09%	-64.09%
ForeignRevenueMember
Avg YoY	-20.90%	-20.90%	-20.90%	-20.90%	-20.90%
Slope	-23.34%	-23.34%	-23.34%	-23.34%	-23.34%
CAGR	-20.90%	-20.90%	-20.90%	-20.90%	-20.90%
LSR	—	—	—	—	—
GERMANY
Avg YoY	-46.01%	638.00%	496.74%	496.74%	496.74%
Slope	-81.62%	-53.17%	-63.09%	-63.09%	-63.09%
CAGR	-54.48%	-45.60%	-51.17%	-51.17%	-51.17%
LSR	-54.48%	-25.25%	-45.62%	-45.62%	-45.62%
ITALY
Avg YoY	-20.15%	-43.33%	-43.33%	-43.33%	-43.33%
Slope	-43.03%	-90.40%	-90.40%	-90.40%	-90.40%
CAGR	-51.56%	-71.07%	-71.07%	-71.07%	-71.07%
LSR	-51.56%	-66.04%	-66.04%	-66.04%	-66.04%
KOREA, REPUBLIC OF
Avg YoY	-100.00%	-82.89%	-82.89%	-82.89%	-82.89%
Slope	-90.07%	-86.46%	-86.46%	-86.46%	-86.46%
CAGR	-50.04%	-55.96%	-55.96%	-55.96%	-55.96%
LSR	—	—	—	—	—
OtherCountriesMember
Avg YoY	-29.92%	-29.92%	-29.92%	-29.92%	-29.92%
Slope	-35.18%	-35.18%	-35.18%	-35.18%	-35.18%
CAGR	-29.92%	-29.92%	-29.92%	-29.92%	-29.92%
LSR	—	—	—	—	—
SINGAPORE
Avg YoY	-64.48%	-64.48%	-64.48%	-64.48%	-64.48%
Slope	-83.60%	-83.60%	-83.60%	-83.60%	-83.60%
CAGR	-71.48%	-71.48%	-71.48%	-71.48%	-71.48%
LSR	-71.48%	-71.48%	-71.48%	-71.48%	-71.48%
Foreign Revenue
Avg YoY	-45.40%	-50.58%	-35.50%	-35.50%	-35.50%
Slope	-57.29%	-61.50%	-43.41%	-43.41%	-43.41%
CAGR	-45.41%	-50.98%	-40.91%	-40.91%	-40.91%
LSR	-45.41%	-51.54%	-44.88%	-44.88%	-44.88%
Other Countries
Avg YoY	0.58%	-25.60%	-22.25%	-22.25%	-22.25%
Slope	-0.16%	-44.64%	-32.58%	-32.58%	-32.58%
CAGR	-0.16%	-31.95%	-27.15%	-27.15%	-27.15%
LSR	-0.16%	-34.63%	-31.54%	-31.54%	-31.54%
ISRAEL
Avg YoY	-91.93%	-91.93%	-91.93%	-91.93%	-91.93%
Slope	-134.97%	-134.97%	-134.97%	-134.97%	-134.97%
CAGR	-92.12%	-92.12%	-92.12%	-92.12%	-92.12%
LSR	-92.12%	-92.12%	-92.12%	-92.12%	-92.12%
Russia
Avg YoY	-0.65%	-1.91%	-1.91%	-1.91%	-1.91%
Slope	-61.81%	-32.66%	-32.66%	-32.66%	-32.66%
CAGR	-40.18%	-26.75%	-26.75%	-26.75%	-26.75%
LSR	-40.18%	-31.69%	-31.69%	-31.69%	-31.69%
Belgium
Avg YoY	31.63%	31.63%	31.63%	31.63%	31.63%
Slope	27.31%	27.31%	27.31%	27.31%	27.31%
CAGR	31.63%	31.63%	31.63%	31.63%	31.63%
LSR	—	—	—	—	—
China
Avg YoY	-15.02%	-15.02%	-15.02%	-15.02%	-15.02%
Slope	-16.24%	-16.24%	-16.24%	-16.24%	-16.24%
CAGR	-15.02%	-15.02%	-15.02%	-15.02%	-15.02%
LSR	—	—	—	—	—
France
Avg YoY	-8.50%	-8.50%	-8.50%	-8.50%	-8.50%
Slope	-8.88%	-8.88%	-8.88%	-8.88%	-8.88%
CAGR	-8.50%	-8.50%	-8.50%	-8.50%	-8.50%
LSR	—	—	—	—	—

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	-206.12%	-140.03%	-29.08%	-14.80%	24.15%	23.81%	41.13%
Slope	121.51%	-5.65%	4.40%	1.69%	0.81%	0.91%	-0.68%
CAGR	—	-17.50%	-3.56%	-1.77%	2.56%	2.83%	-5.03%
LSR	—	—	—	—	—	—	—
Short-Term Investments
Avg YoY	-100.00%	-2.51%	-0.40%	-2.63%	2.86%	0.35%	-0.15%
Slope	-150.00%	-38.45%	-6.54%	-8.44%	-4.68%	-6.64%	-2.50%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	-12.09%	-15.46%	-2.55%	-3.13%	-2.25%	-3.34%	221.35%
Slope	-32.19%	-22.80%	-1.98%	-4.90%	-2.79%	-4.53%	-1.94%
CAGR	-38.30%	-31.07%	-14.07%	-10.89%	-8.78%	-8.57%	-5.03%
LSR	-38.30%	-27.06%	-4.49%	-5.93%	-3.58%	-4.73%	-0.25%
Net Receivables
Avg YoY	28.47%	8.27%	8.57%	7.88%	5.77%	5.19%	4.99%
Slope	24.23%	4.48%	0.73%	-1.06%	-0.47%	0.30%	0.11%
CAGR	25.81%	3.52%	1.41%	2.81%	1.60%	1.35%	1.01%
LSR	25.81%	4.08%	0.90%	-1.21%	-0.65%	0.18%	0.05%
Inventory
Avg YoY	5.71%	3.70%	-6.11%	-1.47%	0.52%	0.86%	3.81%
Slope	5.18%	4.27%	-6.84%	-5.31%	-2.23%	-0.17%	1.62%
CAGR	5.45%	3.55%	-6.83%	-2.26%	-0.41%	0.03%	1.88%
LSR	5.45%	4.34%	-5.87%	-5.27%	-2.43%	-0.25%	2.18%
Other Current Assets
Avg YoY	1,917.45%	926.61%	397.54%	293.98%	221.45%	173.03%	151.46%
Slope	67.24%	35.27%	-36.57%	-14.89%	-5.53%	-3.02%	-9.51%
CAGR	489.02%	23.44%	-24.19%	-7.01%	-4.07%	-6.15%	-7.04%
LSR	489.02%	37.15%	-31.71%	-22.26%	-12.86%	-9.17%	-10.94%
Total Current Assets
Avg YoY	5.75%	-3.03%	-5.20%	-1.20%	-0.58%	-1.15%	0.51%
Slope	4.20%	-2.96%	-5.12%	-4.68%	-2.12%	-1.56%	-1.00%
CAGR	4.53%	-4.01%	-6.46%	-2.45%	-1.62%	-1.99%	-0.50%
LSR	4.53%	-2.83%	-4.37%	-4.57%	-2.26%	-1.73%	-1.13%
Property, Plant & Equipment
Avg YoY	1.08%	-6.43%	3.17%	6.28%	5.45%	2.27%	2.54%
Slope	-0.17%	-9.85%	-0.41%	3.79%	4.24%	2.46%	1.74%
CAGR	-0.16%	-7.34%	0.61%	4.31%	3.76%	0.34%	0.83%
LSR	-0.16%	-9.14%	-0.46%	4.33%	4.55%	2.44%	1.59%
Goodwill
Avg YoY	-1.42%	-0.95%	-15.34%	-19.18%	372.64%	372.64%	372.64%
Slope	-1.43%	-0.94%	8.33%	-24.08%	-7.43%	0.06%	3.38%
CAGR	-1.42%	-0.95%	-0.80%	-20.81%	0.44%	—	—
LSR	-1.42%	-0.94%	—	—	—	—	—
Intangible Assets
Avg YoY	—	—	-50.31%	-75.86%	-75.86%	-66.29%	-66.29%
Slope	—	—	-36.38%	-30.25%	-9.46%	-8.63%	-2.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Investments
Avg YoY	41.79%	41.79%	-712.31%	-336.13%	-246.38%	-246.38%	-246.38%
Slope	87.96%	79.32%	25.73%	-196.09%	-62.02%	-34.85%	-20.85%
CAGR	—	—	—	-15.78%	-4.57%	—	—
LSR	—	—	—	—	—	—	—
Tax Assets
Avg YoY	-100.00%	-100.00%	-586.77%	-226.40%	-181.52%	-90.03%	-90.03%
Slope	-24.51%	41.83%	0.57%	2.64%	5.98%	7.65%	8.64%
CAGR	-15.20%	—	4.25%	20.73%	7.33%	23.33%	—
LSR	—	—	—	—	—	—	—
Other Non-Current Assets
Avg YoY	-153.99%	-123.45%	-57.37%	45.81%	87.63%	71.05%	57.54%
Slope	144.59%	-13.18%	-12.73%	0.88%	1.63%	2.68%	1.72%
CAGR	—	-10.11%	-7.85%	19.79%	2.26%	3.19%	-1.49%
LSR	—	—	—	—	—	—	—
Total Non-Current Assets
Avg YoY	26.85%	5.24%	3.37%	2.54%	6.32%	4.60%	4.22%
Slope	22.03%	-0.16%	-3.29%	-1.80%	1.02%	1.92%	2.06%
CAGR	22.79%	1.17%	0.57%	-0.12%	3.26%	2.05%	1.07%
LSR	22.79%	-0.59%	-3.44%	-1.88%	1.17%	2.07%	2.25%
Total Assets
Avg YoY	11.39%	-1.13%	-3.13%	-0.55%	0.89%	0.07%	0.82%
Slope	10.74%	-1.93%	-4.44%	-3.69%	-1.10%	-0.50%	-0.11%
CAGR	11.39%	-1.93%	-4.01%	-1.54%	-0.04%	-0.70%	0.09%
LSR	11.39%	-1.76%	-4.04%	-3.65%	-1.15%	-0.58%	-0.18%
Accounts Payable
Avg YoY	7.80%	12.48%	-4.50%	7.63%	6.15%	8.39%	10.77%
Slope	-4.21%	11.64%	-7.81%	-3.62%	-3.70%	-2.58%	-0.48%
CAGR	-5.02%	4.91%	-9.70%	-2.37%	-3.02%	-2.89%	-1.07%
LSR	-5.02%	12.10%	-6.52%	-3.59%	-3.74%	-2.72%	-0.39%
Short-Term Debt
Avg YoY	6.97%	3.80%	-10.18%	-35.49%	-45.57%	70.51%	102.36%
Slope	6.09%	1.94%	17.28%	3.05%	-3.01%	0.06%	-2.39%
CAGR	6.01%	3.28%	—	—	—	3.97%	2.26%
LSR	6.01%	1.80%	—	—	—	—	—
Tax Payables
Avg YoY	618.64%	282.70%	127.60%	166.54%	138.76%	138.76%	138.76%
Slope	96.19%	51.04%	-6.53%	-10.66%	-0.92%	4.22%	6.26%
CAGR	413.83%	47.22%	-5.44%	-1.54%	—	—	—
LSR	413.83%	53.29%	-3.82%	-10.80%	—	—	—
Deferred Revenue
Avg YoY	-11.50%	6.35%	-146.33%	-19.45%	-25.20%	-27.53%	-27.53%
Slope	-15.11%	6.58%	31.58%	24.55%	18.96%	9.57%	9.98%
CAGR	-15.65%	1.15%	39.32%	24.45%	—	2.11%	—
LSR	-15.65%	6.67%	—	—	—	—	—
Other Current Liabilities
Avg YoY	-20.32%	123.57%	45.62%	-43.87%	-37.36%	-20.45%	-10.95%
Slope	-22.41%	-1.22%	-3.80%	0.91%	5.15%	2.91%	-2.43%
CAGR	-21.17%	24.54%	-9.07%	-0.71%	3.79%	-2.63%	-1.58%
LSR	-21.17%	11.69%	-3.62%	—	—	—	—
Total Current Liabilities
Avg YoY	-9.00%	7.04%	18.18%	17.80%	32.52%	22.86%	29.03%
Slope	-11.72%	6.17%	17.13%	10.61%	7.40%	4.12%	2.42%
CAGR	-12.14%	3.99%	7.89%	9.31%	9.73%	1.03%	4.21%
LSR	-12.14%	6.61%	20.75%	9.54%	6.90%	3.15%	1.74%
Long-Term Debt
Avg YoY	—	—	-100.00%	7,905.33%	7,905.33%	7,905.33%	4,908.66%
Slope	—	—	-54.55%	-19.22%	-3.27%	2.72%	-3.76%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Lease Obligations
Avg YoY	9.58%	-1.87%	-4.01%	143.67%	109.64%	109.64%	109.64%
Slope	5.88%	-7.67%	20.90%	11.60%	12.25%	12.64%	12.11%
CAGR	5.56%	-4.38%	—	22.28%	—	—	—
LSR	5.56%	-7.33%	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	-100.00%	-33.65%	-25.71%	-25.71%	-25.71%	-25.71%	-40.57%
Slope	-150.00%	-50.16%	11.99%	18.69%	18.01%	16.33%	-16.34%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Non-Current Liabilities
Avg YoY	-4.46%	-12.93%	-3.95%	4.99%	4.30%	1.15%	11.71%
Slope	-4.57%	-14.81%	-8.48%	-0.70%	0.40%	-1.82%	-1.07%
CAGR	-4.46%	-14.27%	-5.70%	-2.49%	-1.25%	-3.90%	1.86%
LSR	-4.46%	-12.53%	-8.91%	-0.67%	0.13%	-1.74%	-0.57%
Total Non-Current Liabilities
Avg YoY	1.29%	-8.63%	-0.12%	4.88%	4.57%	1.37%	6.37%
Slope	0.42%	-11.48%	-1.64%	0.31%	2.62%	0.95%	0.43%
CAGR	0.40%	-9.76%	-1.94%	2.50%	2.69%	-0.87%	-0.58%
LSR	0.40%	-10.13%	-1.77%	0.38%	2.96%	1.10%	0.65%
Total Liabilities
Avg YoY	-6.41%	-3.08%	4.19%	7.85%	9.60%	4.54%	5.76%
Slope	-6.98%	-1.75%	6.46%	4.40%	4.51%	2.18%	1.20%
CAGR	-7.01%	-3.53%	2.23%	5.38%	5.38%	0.05%	1.20%
LSR	-7.01%	-1.87%	7.08%	4.53%	4.78%	2.18%	1.10%
Common Stock
Avg YoY	0.37%	0.34%	-0.15%	-0.57%	-0.20%	-0.28%	-0.39%
Slope	0.37%	0.32%	-0.37%	-0.54%	-0.44%	-0.36%	2.39%
CAGR	0.37%	0.34%	-0.15%	-0.57%	-0.22%	-0.30%	—
LSR	0.37%	0.33%	-0.36%	-0.54%	-0.44%	-0.36%	—
Retained Earnings
Avg YoY	-70.27%	-9.72%	380.36%	251.81%	192.27%	151.96%	126.41%
Slope	104.47%	20.81%	-132.54%	-67.12%	-27.76%	-15.65%	-10.58%
CAGR	—	—	-21.04%	-8.64%	-7.81%	-7.57%	-5.94%
LSR	—	—	—	—	—	—	—
Accumulated OCI
Avg YoY	—	-175.46%	46.76%	19.85%	19.27%	-191.22%	-187.48%
Slope	—	-48.20%	-50.02%	-25.26%	-13.33%	-6.17%	-0.51%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	-47.22%	-47.22%
Slope	—	—	—	—	—	-20.97%	-11.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	-130.40%	65.45%	0.38%	3.08%	3.20%	2.26%	4.12%
Slope	321.20%	57.21%	-71.46%	-23.84%	-11.69%	-7.32%	-4.43%
CAGR	—	—	-12.09%	-5.48%	-4.21%	-3.90%	-1.64%
LSR	—	—	—	—	—	—	—
Total Equity
Avg YoY	-130.40%	65.45%	0.38%	3.08%	3.20%	2.23%	4.12%
Slope	321.20%	57.21%	-71.46%	-23.84%	-11.69%	-7.34%	-4.43%
CAGR	—	—	-12.09%	-5.48%	-4.21%	-3.93%	-1.64%
LSR	—	—	—	—	—	—	—
Total Liabilities & Equity
Avg YoY	40.37%	10.34%	0.99%	4.22%	4.02%	1.38%	2.87%
Slope	33.78%	6.98%	-6.49%	-5.53%	-2.04%	-1.90%	-1.23%
CAGR	40.02%	5.61%	-4.09%	0.42%	0.69%	-1.47%	0.17%
LSR	40.02%	6.22%	-5.11%	-5.58%	-2.38%	-2.22%	-1.55%
Tangible Assets
Avg YoY	11.49%	-1.12%	-3.13%	0.36%	0.70%	0.10%	0.65%
Slope	10.83%	-1.94%	-4.47%	-3.02%	-0.93%	-0.39%	-0.11%
CAGR	11.49%	-1.93%	-4.02%	-0.53%	-0.05%	-0.51%	0.07%
LSR	11.49%	-1.77%	-4.06%	-3.02%	-1.00%	-0.47%	-0.18%
Tangible Equity
Avg YoY	-123.58%	39.35%	-12.44%	3.90%	-0.06%	0.15%	1.74%
Slope	283.46%	51.46%	-78.99%	-23.14%	-12.16%	-7.65%	-4.88%
CAGR	—	—	-12.39%	-0.29%	-4.35%	-3.40%	-1.80%
LSR	—	—	—	—	—	—	—
Tangible Book Value
Avg YoY	-123.58%	39.35%	-12.44%	3.90%	-0.06%	0.15%	1.74%
Slope	283.46%	51.46%	-78.99%	-23.14%	-12.16%	-7.65%	-4.88%
CAGR	—	—	-12.39%	-0.29%	-4.35%	-3.40%	-1.80%
LSR	—	—	—	—	—	—	—
Total Investments
Avg YoY	-26.73%	9.76%	-41.91%	-19.09%	6.70%	4.02%	3.40%
Slope	-125.47%	-32.17%	-4.95%	-14.54%	-8.15%	-7.52%	-2.99%
CAGR	-74.04%	-40.26%	-21.42%	-20.31%	-14.61%	-12.95%	—
LSR	-74.04%	-47.76%	—	—	—	—	—
Net Debt
Avg YoY	-180.02%	-133.46%	148.88%	72.77%	32.32%	39.40%	173.34%
Slope	-184.86%	8.06%	-9.02%	-16.15%	-4.91%	-0.66%	-1.83%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	17.59%	-5.10%	-8.71%	-4.36%	-2.83%	-2.80%	-0.75%
Slope	15.20%	-10.10%	-12.70%	-8.01%	-3.93%	-2.86%	-1.86%
CAGR	17.07%	-8.42%	-10.59%	-5.86%	-4.13%	-3.84%	-2.14%
LSR	17.07%	-8.71%	-11.78%	-8.66%	-4.80%	-3.59%	-2.42%
Total Capital
Avg YoY	24.88%	1.72%	-3.50%	-1.28%	0.34%	0.16%	0.19%
Slope	22.24%	-3.28%	-7.94%	-5.57%	-2.29%	-1.02%	-0.49%
CAGR	24.26%	-1.37%	-5.47%	-2.70%	-1.01%	-0.94%	-0.82%
LSR	24.26%	-3.16%	-7.45%	-5.81%	-2.65%	-1.32%	-0.72%
Capital Employed
Avg YoY	20.76%	3.00%	-4.28%	-0.98%	-0.27%	-0.76%	0.03%
Slope	18.89%	-1.16%	-8.69%	-4.95%	-2.00%	-1.26%	-0.65%
CAGR	20.28%	0.85%	-5.76%	-2.09%	-1.19%	-1.49%	-0.67%
LSR	20.28%	-1.31%	-8.16%	-5.26%	-2.37%	-1.57%	-0.88%
Invested Capital
Avg YoY	34.23%	13.95%	1.40%	1.93%	2.71%	2.04%	3.00%
Slope	11.03%	-2.91%	-9.17%	-6.18%	-2.56%	-1.19%	-0.47%
CAGR	9.72%	0.77%	-5.61%	-2.77%	-1.21%	-1.13%	-0.06%
LSR	9.72%	-4.16%	-8.90%	-6.68%	-3.11%	-1.63%	-0.80%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	258.15%	-204.57%	-209.98%	-143.46%	-149.91%	-26.12%	22.98%
Slope	185.55%	196.27%	81.11%	-132.19%	-13.68%	-116.64%	-25.49%
CAGR	—	140.63%	—	—	—	—	6.60%
LSR	—	—	—	—	—	—	—
Depreciation & Amortization
Avg YoY	-9.32%	-11.83%	-3.22%	0.06%	0.57%	1.58%	1.75%
Slope	-10.03%	-14.00%	-2.89%	-0.05%	1.30%	1.81%	1.18%
CAGR	-9.42%	-12.02%	-3.81%	-0.57%	-0.03%	0.92%	0.61%
LSR	-9.42%	-13.02%	-3.25%	-0.21%	1.30%	1.89%	1.22%
Deferred Income Tax
Avg YoY	-100.00%	-100.00%	2,481.13%	1,425.24%	1,007.33%	761.40%	732.64%
Slope	-157.05%	-130.61%	-950.48%	-11.15%	-164.30%	-15.90%	-2.69%
CAGR	—	—	—	8.05%	—	8.77%	—
LSR	—	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	175.88%	80.30%	25.13%	21.36%	17.67%	17.67%	17.67%
Slope	65.31%	42.62%	0.88%	-4.26%	2.60%	6.47%	7.83%
CAGR	139.32%	42.24%	3.05%	5.52%	—	—	—
LSR	139.32%	49.23%	-2.13%	-5.74%	—	—	—
Change in Working Capital
Avg YoY	-8,723.63%	-4,379.36%	-1,895.61%	-1,214.22%	-1,147.26%	-998.14%	-839.06%
Slope	-177.90%	-1,017.89%	-1,949.37%	16.20%	9.58%	3.61%	0.65%
CAGR	—	—	34.56%	8.55%	4.85%	5.32%	—
LSR	—	—	—	—	—	—	—
Accounts Receivable
Avg YoY	-44,200.20%	-22,053.10%	-9,798.38%	-6,338.67%	-5,560.39%	-5,560.39%	-5,560.39%
Slope	-139.19%	-106.47%	-39.55%	1.66%	-27.56%	-22.43%	-18.91%
CAGR	413.45%	84.26%	19.21%	11.99%	—	—	—
LSR	—	—	—	—	—	—	—
Inventory
Avg YoY	-71.63%	-104.90%	1,886.19%	1,187.66%	815.46%	634.26%	528.60%
Slope	-1.11%	-160.80%	-13.08%	13.74%	9.19%	5.35%	2.70%
CAGR	1.88%	—	-10.55%	-3.04%	1.41%	-5.65%	—
LSR	1.88%	—	—	—	—	—	—
Accounts Payable
Avg YoY	-40.95%	9,555.88%	4,243.70%	3,073.09%	2,688.28%	2,688.28%	2,688.28%
Slope	-676.96%	-350.90%	-44.36%	-9.47%	-6.52%	0.64%	3.78%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	-188.04%	-100.16%	318.47%	-54.83%	-70.53%	-41.38%	-36.07%
Slope	-759.99%	-158.03%	-21.48%	23.95%	328.46%	40.49%	10.74%
CAGR	—	—	—	—	0.79%	—	—
LSR	—	—	—	—	—	—	—
Other Non-Cash Items
Avg YoY	424.24%	424.31%	733.93%	476.42%	368.20%	41,516.32%	34,435.65%
Slope	20.03%	30.94%	-16.20%	-3.23%	0.18%	0.95%	3.27%
CAGR	15.24%	—	13.29%	0.71%	6.49%	-0.83%	1.10%
LSR	15.24%	—	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	258.82%	94.92%	-5.43%	1.82%	19.73%	6.02%	7.53%
Slope	-45.72%	-46.00%	-0.07%	2.46%	8.14%	4.17%	0.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditures (PPE)
Avg YoY	-39.93%	-19.67%	-9.84%	-15.11%	-15.96%	-14.29%	-25.82%
Slope	-30.31%	-4.23%	13.92%	5.89%	1.25%	-0.65%	-2.00%
CAGR	38.35%	8.87%	-7.63%	-1.53%	-1.32%	-0.81%	5.36%
LSR	38.35%	4.51%	-11.24%	-5.95%	-1.29%	0.39%	2.26%
Acquisitions (Net)
Avg YoY	100.00%	-773.31%	-133.44%	-88.42%	-55.96%	-34.88%	-38.14%
Slope	150.00%	-18.51%	-132.11%	-28.48%	-9.33%	43.62%	3.85%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	100.00%	47.72%	-65.12%	-30.01%	-67.15%	-69.24%	-56.93%
Slope	150.00%	58.56%	11.38%	13.11%	8.13%	7.97%	8.43%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	-100.00%	101.48%	74.09%	47.98%	44.52%	40.35%	38.03%
Slope	-150.00%	-22.92%	-4.37%	-5.41%	-8.13%	-7.90%	-6.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Investing Activities
Avg YoY	-100.00%	773.31%	-332.27%	-906.59%	-720.18%	-701.73%	-640.71%
Slope	-150.00%	18.51%	136.06%	29.68%	11.46%	3.07%	-1.64%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-68.00%	62.49%	-103.34%	-86.88%	-67.47%	-29.48%	-48.11%
Slope	-287.81%	-7.33%	37.06%	22.15%	-3.24%	-5.47%	1.27%
CAGR	—	—	-7.90%	-9.85%	—	-4.67%	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	—	100.00%	0.63%	408.78%	4,348.01%	3,166.38%	2,473.24%
Slope	—	100.00%	33.31%	-272.50%	-68.54%	-6.57%	4.13%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	—	—	0.00%	-23.79%	-23.79%	41.63%	18.89%
Slope	—	—	189.09%	-19.13%	-3.22%	1.56%	712.75%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Short-Term Debt Issuance
Avg YoY	—	100.00%	100.00%	472.68%	5,561.72%	5,065.18%	5,065.18%
Slope	—	100.00%	-6.06%	-23.08%	-18.89%	-4.08%	-6.17%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	—	—	—	—	-497.46%	-278.78%	-165.21%
Slope	-150.00%	-100.00%	-54.55%	-37.50%	13.78%	-0.59%	-0.75%
CAGR	—	—	—	—	—	—	-3.06%
LSR	—	—	—	—	—	—	—
Common Stock Issuance
Avg YoY	—	—	—	—	-13.97%	-4.85%	47.37%
Slope	—	—	—	—	-25.50%	-17.83%	-13.11%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	—	—	—	—	-427.30%	-163.65%	-93.21%
Slope	-150.00%	-100.00%	-54.55%	-37.50%	15.57%	6.94%	7.25%
CAGR	—	—	—	—	—	—	-3.06%
LSR	—	—	—	—	—	—	—
Preferred Stock Issuance
Avg YoY	—	—	—	—	-100.00%	-100.00%	-100.00%
Slope	—	—	—	—	-22.56%	-9.62%	-3.34%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	100.00%	100.00%	100.00%	100.00%	59.81%	29.73%	33.14%
Slope	0.45%	-49.85%	-42.39%	-26.87%	-12.35%	-4.41%	-4.32%
CAGR	-0.30%	—	—	—	8.92%	7.08%	—
LSR	—	—	—	—	—	—	—
Common Dividends Paid
Avg YoY	100.00%	100.00%	100.00%	100.00%	59.81%	29.73%	33.14%
Slope	0.45%	-49.85%	-42.39%	-26.87%	-12.35%	-4.41%	-4.32%
CAGR	-0.30%	—	—	—	8.92%	7.08%	—
LSR	—	—	—	—	—	—	—
Other Financing Activities
Avg YoY	—	—	-242.01%	13.44%	13.44%	-0.74%	6.86%
Slope	—	—	39.27%	-92.26%	-44.28%	-22.71%	-16.54%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	100.00%	100.00%	-818.21%	-86.91%	-55.90%	-55.80%	-43.78%
Slope	-2.44%	-19.36%	-22.51%	-36.26%	-13.06%	-4.52%	-4.53%
CAGR	1.64%	17.83%	—	33.66%	9.62%	6.70%	5.96%
LSR	—	—	—	—	—	—	—
Effect of FX on Cash
Avg YoY	—	—	49.00%	32.39%	34.75%	175.99%	175.99%
Slope	—	—	-18.58%	7.49%	45.47%	2.25%	4.90%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Change in Cash
Avg YoY	542.34%	235.37%	614.12%	400.97%	333.55%	262.84%	207.99%
Slope	-385.29%	-611.01%	-203.27%	17.29%	-33.13%	-39.92%	-22.73%
CAGR	—	—	30.20%	6.62%	5.83%	—	—
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	30.07%	58.54%	33.00%	23.08%	54.11%	560.06%	468.50%
Slope	25.45%	28.43%	13.37%	5.80%	4.28%	4.40%	1.80%
CAGR	27.26%	48.55%	10.62%	3.80%	5.16%	33.32%	4.29%
LSR	27.26%	39.85%	12.86%	4.61%	4.49%	8.83%	4.65%
Cash at End of Period
Avg YoY	-5.35%	2.60%	26.89%	21.18%	50.66%	50.39%	60.01%
Slope	-24.85%	-0.47%	11.34%	6.63%	4.14%	4.12%	1.27%
CAGR	-29.94%	-12.09%	-0.80%	0.03%	3.94%	—	-4.22%
LSR	-29.94%	-5.24%	11.92%	5.57%	4.73%	—	—
Operating Cash Flow
Avg YoY	258.82%	94.92%	-5.43%	1.82%	19.73%	6.02%	7.53%
Slope	-45.72%	-46.00%	-0.07%	2.46%	8.14%	4.17%	0.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-39.93%	-19.67%	-9.84%	-15.11%	-15.96%	-14.29%	-25.82%
Slope	-30.31%	-4.23%	13.92%	5.89%	1.25%	-0.65%	-2.00%
CAGR	38.35%	8.87%	-7.63%	-1.53%	-1.32%	-0.81%	5.36%
LSR	38.35%	4.51%	-11.24%	-5.95%	-1.29%	0.39%	2.26%
Free Cash Flow
Avg YoY	1,267.92%	591.86%	312.43%	252.40%	192.88%	118.76%	92.22%
Slope	-119.89%	-66.92%	24.08%	34.85%	87.94%	23.76%	-2.70%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	250.02%	52.92%	-5,329.01%	-3,426.53%	-2,545.44%	-2,415.28%	-1,966.80%
Slope	129.24%	114.33%	307.38%	-15.57%	-1.95%	0.98%	-1.03%
CAGR	—	59.28%	14.47%	5.83%	6.79%	2.79%	3.72%
LSR	—	—	—	—	—	—	—
(-) Tax Adjustment
Avg YoY	—	—	-4.10%	-6.23%	-4.29%	-609.14%	-425.08%
Slope	—	—	-2.18%	-28.88%	-9.55%	-6.41%	-1.40%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Change In Working Capital
Avg YoY	-8,723.63%	-4,379.36%	-1,895.61%	-1,214.22%	-1,147.26%	-998.14%	-839.06%
Slope	-177.90%	-1,017.89%	-1,949.37%	16.20%	9.58%	3.61%	0.65%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-39.93%	-19.67%	-9.84%	-15.11%	-15.96%	-14.29%	-25.82%
Slope	-30.31%	-4.23%	13.92%	5.89%	1.25%	-0.65%	-2.00%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	324.53%	144.44%	-282.56%	-186.95%	-449.58%	-356.83%	-284.84%
Slope	169.16%	428.83%	95.71%	-29.67%	-14.32%	-5.06%	-5.32%
CAGR	—	—	68.34%	8.40%	7.19%	5.71%	9.35%
LSR	—	—	—	—	—	—	—
Net Interest After Taxes
Avg YoY	252.28%	110.75%	43.78%	37.39%	43.21%	46.36%	46.36%
Slope	601.85%	777.46%	46.64%	-53.46%	2.30%	2.74%	-1.43%
CAGR	—	—	—	1.91%	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	—	100.00%	0.63%	408.78%	4,348.01%	3,166.38%	2,473.24%
Slope	—	100.00%	33.31%	-272.50%	-68.54%	-6.57%	4.13%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	319.24%	168.77%	-362.10%	-238.13%	-3,915.28%	-3,100.81%	-2,549.44%
Slope	167.21%	867.71%	83.70%	-38.85%	-20.16%	-7.75%	-5.58%
CAGR	—	—	63.00%	8.79%	7.12%	6.26%	11.22%
LSR	—	—	—	—	—	—	—