Norfolk Southern Corporation (0K8M.L)

Analysis: Growth Rates Industry: General Transportation Sector: Industrials Live Price: $291.58

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	-2.39%	0.82%	13.39%	11.91%	10.72%	14.41%	10.14%
Slope	-2.45%	-2.68%	10.17%	10.49%	10.01%	9.98%	8.94%
CAGR	-2.41%	-0.31%	12.01%	9.87%	9.10%	12.70%	7.82%
LSR	-2.41%	-2.52%	12.60%	12.17%	11.25%	12.55%	10.16%
Market Capitalization
Avg YoY	-2.29%	0.93%	13.60%	12.09%	10.88%	14.42%	10.16%
Slope	-2.35%	-2.57%	10.32%	10.58%	10.08%	10.02%	8.96%
CAGR	-2.31%	-0.19%	12.09%	9.97%	9.21%	12.70%	7.83%
LSR	-2.31%	-2.41%	12.77%	12.27%	11.34%	12.55%	10.15%
(-) Cash & Equivalents
Avg YoY	130.69%	49.11%	31.44%	34.71%	40.50%	37.42%	51.90%
Slope	49.56%	19.57%	10.73%	7.14%	7.62%	8.23%	8.64%
CAGR	93.52%	13.65%	8.03%	8.80%	13.08%	—	13.79%
LSR	93.52%	18.96%	8.95%	7.01%	8.70%	—	—
(+) Total Debt
Avg YoY	8.33%	11.07%	10.07%	10.86%	8.67%	6.18%	16.01%
Slope	7.49%	10.94%	10.74%	9.57%	8.76%	6.95%	6.28%
CAGR	8.01%	10.86%	9.85%	10.58%	8.35%	5.79%	10.51%
LSR	8.01%	11.87%	11.40%	10.20%	9.22%	6.66%	6.77%
Enterprise Value
Avg YoY	-0.89%	2.62%	12.51%	11.33%	9.86%	10.49%	9.48%
Slope	-0.89%	-0.04%	10.40%	10.42%	9.82%	9.31%	8.31%
CAGR	-0.89%	1.84%	11.59%	10.15%	8.91%	9.66%	8.27%
LSR	-0.89%	0.11%	12.50%	11.89%	10.90%	10.52%	8.86%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	-2.45%	5.83%	1.99%	2.13%	2.50%	3.43%	3.95%
Slope	-2.52%	4.90%	2.11%	0.96%	1.43%	2.44%	3.16%
CAGR	-2.47%	5.49%	1.60%	1.74%	1.87%	2.86%	3.35%
LSR	-2.47%	5.28%	2.11%	0.95%	1.47%	2.69%	3.64%
Cost of Revenue
Avg YoY	3.05%	7.59%	1.61%	1.91%	2.42%	6.54%	24.82%
Slope	2.02%	8.36%	2.09%	0.46%	0.95%	3.15%	4.90%
CAGR	2.14%	6.94%	1.02%	1.44%	1.82%	5.08%	7.39%
LSR	2.14%	8.96%	1.98%	0.39%	0.95%	4.21%	8.61%
Gross Profit
Avg YoY	-3.31%	7.58%	5.52%	4.41%	4.23%	2.65%	2.28%
Slope	-12.86%	-2.16%	2.15%	2.07%	2.51%	1.03%	0.25%
CAGR	-10.82%	2.60%	3.02%	2.49%	1.98%	0.17%	0.14%
LSR	-10.82%	-2.33%	2.10%	2.01%	2.55%	1.05%	0.23%
Gross Margin
Avg YoY	-1.69%	1.07%	3.23%	1.97%	1.18%	-0.98%	-1.46%
Slope	-10.00%	-7.08%	0.19%	1.17%	1.14%	-2.14%	-4.00%
CAGR	-8.56%	-2.74%	1.40%	0.73%	0.11%	-2.62%	-3.10%
LSR	-8.56%	-7.23%	-0.02%	1.05%	1.06%	-1.60%	-3.29%
SG&A Expenses
Avg YoY	—	—	—	—	—	-19.15%	-3.78%
Slope	-150.00%	-100.00%	-54.55%	-37.50%	-28.57%	-20.55%	-13.55%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Operating Expenses
Avg YoY	—	—	—	—	-100.00%	-26.30%	-13.58%
Slope	—	—	—	—	-28.57%	-19.76%	-13.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Operating Income (EBIT)
Avg YoY	-3.31%	7.58%	5.52%	4.41%	5.28%	10.55%	7.16%
Slope	-12.86%	-2.16%	2.15%	2.07%	2.72%	4.56%	4.87%
CAGR	-10.82%	2.60%	3.02%	2.49%	2.97%	7.71%	4.38%
LSR	-10.82%	-2.33%	2.10%	2.01%	2.82%	5.94%	5.96%
Operating Margin
Avg YoY	-1.69%	1.07%	3.23%	1.97%	2.13%	6.32%	3.12%
Slope	-10.00%	-7.08%	0.19%	1.17%	1.39%	2.70%	2.03%
CAGR	-8.56%	-2.74%	1.40%	0.73%	1.08%	4.71%	1.00%
LSR	-8.56%	-7.23%	-0.02%	1.05%	1.33%	3.16%	2.24%
Interest Income
Avg YoY	—	—	-37.50%	-15.67%	-26.22%	-26.22%	-26.22%
Slope	—	—	-47.81%	-22.01%	-12.15%	-2.96%	1.28%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Interest Expense
Avg YoY	8.05%	6.65%	4.54%	4.16%	-2.06%	-2.06%	-2.06%
Slope	7.77%	6.30%	4.25%	3.46%	4.03%	7.38%	8.46%
CAGR	7.99%	6.60%	4.46%	4.06%	2.58%	—	—
LSR	7.99%	6.42%	4.22%	3.46%	—	—	—
Net Interest Income
Avg YoY	8.05%	6.65%	4.70%	4.34%	-1.42%	-1.42%	-1.42%
Slope	-7.77%	-6.30%	-4.40%	-3.65%	-4.19%	-7.49%	-8.54%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	-1.96%	-3.42%	4.36%	4.89%	6.83%	11.53%	7,419.12%
Slope	2.12%	3.32%	-3.22%	-3.91%	-3.66%	-4.47%	-5.70%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	-1.96%	-3.42%	4.36%	4.89%	6.83%	11.53%	7,419.12%
Slope	-2.12%	-3.32%	3.22%	3.91%	3.66%	4.47%	5.70%
CAGR	-2.07%	-4.48%	2.74%	3.65%	1.38%	5.02%	—
LSR	-2.07%	-2.97%	3.33%	4.09%	4.12%	5.10%	—
EBT excl. Unusual
Avg YoY	13.59%	48.73%	21.89%	14.33%	21.46%	43.73%	56.20%
Slope	-18.60%	2.36%	1.64%	0.63%	2.16%	5.47%	4.91%
CAGR	-14.20%	19.08%	3.99%	1.85%	5.62%	—	2.10%
LSR	-14.20%	5.04%	1.04%	0.01%	2.35%	—	—
Pre-Tax Income
Avg YoY	-0.17%	14.86%	7.81%	5.66%	7.31%	17.63%	10.74%
Slope	-12.29%	0.12%	2.21%	1.75%	2.67%	5.11%	5.18%
CAGR	-10.22%	7.10%	3.50%	2.47%	3.61%	11.39%	3.84%
LSR	-10.22%	0.35%	2.11%	1.61%	2.80%	7.81%	6.92%
Pre-Tax Margin
Avg YoY	1.39%	7.64%	4.92%	2.78%	3.58%	12.63%	6.24%
Slope	-9.39%	-4.47%	0.24%	0.82%	1.37%	3.55%	2.41%
CAGR	-7.95%	1.53%	1.87%	0.71%	1.71%	8.29%	0.48%
LSR	-7.95%	-4.68%	0.00%	0.65%	1.31%	4.98%	3.16%
Income Tax Expense
Avg YoY	0.37%	17.03%	-50.00%	-31.72%	-16.95%	-2.12%	-6.25%
Slope	-11.14%	0.00%	14.77%	-4.38%	-2.26%	1.75%	2.51%
CAGR	-9.33%	8.14%	-2.48%	-1.48%	2.83%	9.62%	1.97%
LSR	-9.33%	0.55%	—	—	—	—	—
Net Income
Avg YoY	-0.31%	14.37%	23.78%	16.08%	13.78%	22.09%	15.11%
Slope	-12.59%	0.16%	0.08%	3.39%	4.19%	6.10%	5.96%
CAGR	-10.45%	6.83%	5.97%	4.09%	3.84%	12.02%	4.59%
LSR	-10.45%	0.31%	1.76%	3.71%	4.34%	8.71%	7.54%
Net Margin
Avg YoY	1.24%	7.19%	20.07%	12.62%	9.77%	17.01%	10.65%
Slope	-9.70%	-4.47%	-1.81%	2.53%	2.95%	4.58%	3.23%
CAGR	-8.19%	1.27%	4.30%	2.30%	1.94%	8.90%	1.21%
LSR	-8.19%	-4.72%	-0.34%	2.73%	2.83%	5.85%	3.76%
Depreciation & Amortization
Avg YoY	5.27%	4.07%	2.79%	3.63%	2.95%	4.28%	4.34%
Slope	5.11%	4.15%	2.91%	3.20%	3.02%	3.67%	3.89%
CAGR	5.27%	4.06%	2.76%	3.59%	2.89%	4.09%	4.17%
LSR	5.27%	4.21%	2.92%	3.28%	3.07%	3.96%	4.26%
EBITDA
Avg YoY	-3.21%	5.70%	4.33%	3.82%	4.21%	7.93%	5.75%
Slope	-8.27%	-0.61%	2.33%	2.34%	2.79%	4.34%	4.62%
CAGR	-7.29%	2.97%	2.95%	2.76%	2.95%	6.42%	4.32%
LSR	-7.29%	-0.66%	2.36%	2.35%	2.89%	5.34%	5.46%
EBITDA Margin
Avg YoY	-1.37%	-0.45%	2.28%	1.62%	1.53%	4.15%	1.97%
Slope	-5.51%	-5.61%	0.34%	1.42%	1.43%	2.34%	1.66%
CAGR	-4.95%	-2.39%	1.33%	1.00%	1.06%	3.46%	0.95%
LSR	-4.95%	-5.64%	0.25%	1.38%	1.40%	2.58%	1.76%
NOPAT
Avg YoY	-3.31%	7.58%	5.52%	4.41%	5.28%	10.55%	7.16%
Slope	-12.86%	-2.16%	2.15%	2.07%	2.72%	4.56%	4.87%
CAGR	-10.82%	2.60%	3.02%	2.49%	2.97%	7.71%	4.38%
LSR	-10.82%	-2.33%	2.10%	2.01%	2.82%	5.94%	5.96%
NOPAT Margin
Avg YoY	-1.69%	1.07%	3.23%	1.97%	2.13%	6.32%	3.12%
Slope	-10.00%	-7.08%	0.19%	1.17%	1.39%	2.70%	2.03%
CAGR	-8.56%	-2.74%	1.40%	0.73%	1.08%	4.71%	1.00%
LSR	-8.56%	-7.23%	-0.02%	1.05%	1.33%	3.16%	2.24%
Owner's Earnings
Avg YoY	17.96%	22.98%	84.38%	51.90%	38.29%	21.59%	7.11%
Slope	-28.97%	-11.28%	1.15%	7.39%	5.76%	7.35%	7.25%
CAGR	-20.83%	-1.20%	24.00%	4.58%	2.26%	—	4.32%
LSR	-20.83%	-12.62%	9.59%	9.81%	5.27%	—	—
Owner's Earnings Margin
Avg YoY	18.98%	15.61%	80.87%	48.65%	34.53%	16.43%	3.40%
Slope	-25.85%	-15.98%	-0.46%	6.55%	4.41%	5.90%	4.93%
CAGR	-18.82%	-6.35%	22.05%	2.78%	0.38%	—	0.94%
LSR	-18.82%	-17.01%	7.32%	8.77%	3.74%	—	—
EPS (Basic)
Avg YoY	0.92%	17.63%	27.18%	19.74%	17.01%	24.28%	17.05%
Slope	-10.41%	3.07%	3.20%	6.25%	6.99%	8.17%	7.68%
CAGR	-8.75%	10.10%	9.43%	7.74%	7.06%	14.50%	6.62%
LSR	-8.75%	3.63%	5.34%	7.23%	7.81%	11.57%	9.71%
EPS (Diluted)
Avg YoY	1.02%	17.76%	27.44%	19.95%	17.17%	24.28%	17.06%
Slope	-10.29%	3.18%	3.35%	6.34%	7.06%	8.21%	7.70%
CAGR	-8.65%	10.23%	9.51%	7.84%	7.16%	14.49%	6.63%
LSR	-8.65%	3.75%	5.50%	7.31%	7.89%	11.57%	9.70%
Shares (Basic)
Avg YoY	-1.86%	-2.96%	-3.15%	-3.37%	-2.99%	-2.13%	-1.86%
Slope	-1.90%	-3.28%	-3.46%	-3.33%	-3.24%	-2.50%	-1.87%
CAGR	-1.87%	-2.97%	-3.16%	-3.39%	-3.01%	-2.16%	-1.90%
LSR	-1.87%	-3.21%	-3.40%	-3.28%	-3.21%	-2.57%	-1.98%
Shares (Diluted)
Avg YoY	-1.96%	-3.07%	-3.23%	-3.46%	-3.08%	-2.12%	-1.88%
Slope	-2.00%	-3.40%	-3.60%	-3.41%	-3.31%	-2.49%	-1.85%
CAGR	-1.97%	-3.08%	-3.24%	-3.48%	-3.10%	-2.16%	-1.91%
LSR	-1.97%	-3.32%	-3.54%	-3.36%	-3.29%	-2.57%	-1.97%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	130.69%	49.11%	31.44%	34.71%	40.50%	37.42%	51.90%
Slope	49.56%	19.57%	10.73%	7.14%	7.62%	8.23%	8.64%
CAGR	93.52%	13.65%	8.03%	8.80%	13.08%	—	13.79%
LSR	93.52%	18.96%	8.95%	7.01%	8.70%	—	—
Short-Term Investments
Avg YoY	—	—	—	121.25%	77.12%	153.69%	79.26%
Slope	—	—	—	-32.00%	-22.63%	-9.93%	-7.18%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	130.69%	49.11%	31.44%	33.67%	34.90%	454.32%	368.79%
Slope	49.56%	19.57%	10.73%	6.17%	5.24%	6.81%	7.05%
CAGR	93.52%	13.65%	8.03%	6.54%	4.66%	35.18%	7.76%
LSR	93.52%	18.96%	8.95%	5.87%	5.33%	12.91%	11.44%
Net Receivables
Avg YoY	-1.44%	10.01%	5.21%	6.38%	4.54%	7.09%	5.49%
Slope	-1.55%	9.01%	5.70%	4.16%	4.16%	4.68%	4.22%
CAGR	-1.56%	9.33%	4.76%	5.71%	3.95%	6.36%	3.43%
LSR	-1.56%	10.10%	5.70%	4.22%	4.23%	5.18%	4.45%
Inventory
Avg YoY	6.75%	9.43%	4.23%	7.98%	7.98%	7.69%	8.45%
Slope	6.49%	9.68%	4.49%	5.02%	5.74%	6.36%	6.47%
CAGR	6.74%	9.17%	3.60%	7.33%	7.31%	7.06%	7.37%
LSR	6.74%	10.30%	4.36%	5.32%	6.38%	7.43%	7.70%
Other Current Assets
Avg YoY	35.41%	23.03%	16.58%	15.34%	11.21%	8.55%	6.32%
Slope	13.41%	19.05%	3.11%	1.00%	1.17%	-0.02%	-0.35%
CAGR	18.09%	14.19%	3.75%	2.49%	1.36%	-0.07%	-1.27%
LSR	18.09%	21.26%	3.33%	1.00%	0.83%	-0.31%	-0.58%
Total Current Assets
Avg YoY	33.37%	15.24%	8.15%	8.36%	6.65%	10.17%	7.18%
Slope	22.56%	14.38%	7.33%	4.71%	4.41%	5.05%	4.79%
CAGR	28.57%	11.74%	6.12%	5.99%	4.31%	8.00%	4.39%
LSR	28.57%	14.87%	6.77%	4.55%	4.34%	5.59%	5.11%
Property, Plant & Equipment
Avg YoY	7.68%	6.70%	5.82%	6.90%	6.26%	7.96%	7.35%
Slope	7.40%	6.60%	5.47%	5.84%	5.97%	6.37%	6.30%
CAGR	7.68%	6.69%	5.80%	6.86%	6.22%	7.32%	6.82%
LSR	7.68%	6.79%	5.60%	6.20%	6.40%	7.32%	7.20%
Intangible Assets
Avg YoY	—	-100.00%	-14.08%	-3.74%	-3.74%	-3.74%	-3.74%
Slope	—	100.00%	22.75%	3.19%	-5.73%	-8.47%	-9.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Investments
Avg YoY	-2.08%	1.89%	6.76%	7.04%	7.66%	6.22%	81.25%
Slope	-2.51%	2.44%	7.08%	7.34%	7.42%	1.86%	1.31%
CAGR	-2.56%	1.56%	6.49%	6.84%	7.36%	-0.33%	11.81%
LSR	-2.56%	2.49%	7.74%	7.96%	8.18%	2.90%	4.06%
Other Non-Current Assets
Avg YoY	14.68%	7.90%	-285.09%	-167.49%	-125.89%	-99.15%	-63.97%
Slope	13.11%	8.97%	139.02%	54.55%	21.88%	-25.85%	-14.83%
CAGR	14.41%	7.24%	19.01%	14.89%	5.09%	3.92%	12.65%
LSR	14.41%	9.16%	—	—	—	—	—
Total Non-Current Assets
Avg YoY	6.90%	6.53%	7.20%	7.63%	6.73%	6.10%	7.91%
Slope	6.64%	6.48%	7.75%	6.52%	6.18%	5.75%	5.57%
CAGR	6.90%	6.52%	6.27%	7.02%	6.27%	5.69%	7.15%
LSR	6.90%	6.69%	8.42%	6.75%	6.40%	5.90%	5.96%
Total Assets
Avg YoY	8.16%	6.89%	7.06%	7.48%	6.51%	6.18%	7.47%
Slope	7.73%	6.99%	7.73%	6.40%	6.06%	5.70%	5.51%
CAGR	8.12%	6.86%	6.26%	6.94%	6.10%	5.82%	6.86%
LSR	8.12%	7.22%	8.30%	6.60%	6.25%	5.87%	5.87%
Accounts Payable
Avg YoY	22.16%	22.95%	11.90%	7.41%	6.24%	5.64%	5.86%
Slope	16.95%	15.45%	7.79%	4.59%	1.78%	1.53%	1.98%
CAGR	19.99%	19.25%	9.16%	2.27%	2.30%	2.47%	2.99%
LSR	19.99%	18.00%	7.86%	4.58%	1.53%	1.29%	1.92%
Short-Term Debt
Avg YoY	6,868.44%	3,442.38%	1,534.23%	1,033.63%	765.19%	609.36%	512.71%
Slope	-14.65%	-9.16%	-2.87%	4.93%	4.47%	3.34%	4.26%
CAGR	-9.36%	2.09%	0.71%	5.04%	6.34%	4.90%	7.15%
LSR	-9.36%	-37.35%	-17.29%	-0.74%	0.07%	0.05%	3.04%
Tax Payables
Avg YoY	8.10%	10.97%	10.51%	8.44%	8.92%	6.73%	7.04%
Slope	6.21%	6.83%	8.17%	6.82%	5.86%	3.86%	3.65%
CAGR	6.02%	9.78%	9.33%	7.58%	5.27%	3.47%	3.97%
LSR	6.02%	7.05%	8.60%	6.95%	5.96%	3.59%	3.42%
Other Current Liabilities
Avg YoY	67.22%	37.34%	17.27%	18.81%	15.19%	9.91%	10.36%
Slope	44.76%	32.08%	12.52%	8.46%	8.91%	6.82%	5.62%
CAGR	64.20%	32.70%	14.04%	14.80%	12.10%	6.14%	5.88%
LSR	64.20%	36.12%	10.51%	7.64%	9.43%	6.40%	5.06%
Total Current Liabilities
Avg YoY	21.43%	17.98%	9.23%	8.28%	7.24%	5.64%	6.54%
Slope	18.60%	13.48%	6.35%	5.91%	4.48%	3.36%	3.47%
CAGR	19.29%	16.78%	8.15%	6.10%	5.47%	4.06%	4.55%
LSR	19.29%	13.93%	6.02%	5.96%	4.28%	3.07%	3.46%
Long-Term Debt
Avg YoY	10.14%	12.15%	10.51%	11.07%	8.72%	6.18%	16.60%
Slope	8.61%	12.01%	11.01%	9.54%	8.79%	6.99%	6.28%
CAGR	9.40%	11.75%	10.13%	10.73%	8.34%	5.76%	10.64%
LSR	9.40%	13.12%	11.67%	10.10%	9.26%	6.71%	6.77%
Capital Lease Obligations
Avg YoY	-15.62%	-7.01%	4,705.66%	4,705.66%	4,705.66%	4,705.66%	4,705.66%
Slope	-17.32%	-5.69%	21.84%	23.04%	20.46%	17.89%	15.75%
CAGR	-16.91%	-8.14%	—	—	—	—	—
LSR	-16.91%	-6.24%	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	3.09%	5.01%	1.84%	4.54%	4.27%	8.01%	7.39%
Slope	3.05%	4.79%	2.09%	2.40%	3.54%	4.83%	5.35%
CAGR	3.09%	4.99%	1.07%	3.95%	3.82%	6.53%	6.15%
LSR	3.09%	4.97%	2.16%	2.52%	3.83%	6.00%	6.65%
Other Non-Current Liabilities
Avg YoY	39.22%	16.85%	9.62%	5.14%	5.83%	6.03%	5.73%
Slope	26.16%	15.28%	7.21%	0.99%	0.53%	1.33%	2.06%
CAGR	34.02%	12.53%	7.45%	2.62%	3.76%	3.61%	3.67%
LSR	34.02%	15.69%	6.57%	0.73%	0.33%	1.30%	2.18%
Total Non-Current Liabilities
Avg YoY	8.57%	9.54%	7.12%	7.90%	6.67%	6.17%	9.42%
Slope	7.57%	9.69%	7.88%	6.49%	6.29%	5.83%	5.67%
CAGR	8.13%	9.32%	6.62%	7.51%	6.34%	5.84%	8.04%
LSR	8.13%	10.36%	8.02%	6.60%	6.51%	5.99%	6.20%
Total Liabilities
Avg YoY	9.36%	10.09%	7.12%	7.65%	6.49%	5.89%	8.52%
Slope	8.51%	10.02%	7.75%	6.44%	6.12%	5.59%	5.45%
CAGR	9.11%	9.96%	6.77%	7.35%	6.25%	5.62%	7.49%
LSR	9.11%	10.70%	7.84%	6.53%	6.28%	5.67%	5.86%
Preferred Stock
Avg YoY	—	—	—	—	—	-100.00%	-100.00%
Slope	—	—	—	—	—	-19.23%	-10.01%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock
Avg YoY	1.57%	0.44%	0.29%	0.33%	-0.18%	-0.19%	6.93%
Slope	1.55%	0.58%	0.21%	0.22%	-0.02%	-0.29%	0.58%
CAGR	1.57%	0.43%	0.28%	0.32%	-0.20%	-0.21%	3.77%
LSR	1.57%	0.58%	0.21%	0.22%	-0.02%	-0.28%	1.08%
Retained Earnings
Avg YoY	8.58%	1.85%	6.01%	6.11%	5.85%	6.29%	5.94%
Slope	8.24%	1.39%	3.20%	5.32%	5.54%	5.73%	5.54%
CAGR	8.46%	1.56%	5.33%	5.63%	5.48%	5.99%	5.66%
LSR	8.46%	1.32%	3.57%	5.91%	6.01%	6.32%	6.02%
Accumulated OCI
Avg YoY	-11.65%	-15.34%	0.75%	1.01%	28.34%	62.25%	48.04%
Slope	12.30%	15.82%	1.42%	3.91%	-0.20%	-4.59%	5.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	-47.97%	-21.40%
Slope	—	—	—	—	—	-21.00%	-14.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	9.05%	2.45%	6.21%	6.59%	5.70%	6.03%	44.43%
Slope	8.68%	1.95%	3.30%	5.62%	5.65%	5.58%	6.32%
CAGR	8.93%	2.17%	5.46%	5.98%	5.23%	5.64%	20.58%
LSR	8.93%	1.86%	3.67%	6.33%	6.08%	5.99%	11.79%
Total Equity
Avg YoY	9.05%	2.45%	6.21%	6.59%	5.70%	5.99%	38.07%
Slope	8.68%	1.95%	3.30%	5.62%	5.65%	5.57%	6.30%
CAGR	8.93%	2.17%	5.46%	5.98%	5.23%	5.60%	18.74%
LSR	8.93%	1.86%	3.67%	6.33%	6.08%	5.97%	11.21%
Total Liabilities & Equity
Avg YoY	9.12%	7.40%	6.41%	6.98%	5.99%	5.71%	9.85%
Slope	8.56%	7.54%	6.27%	6.17%	5.97%	5.58%	5.72%
CAGR	9.06%	7.35%	6.37%	6.92%	5.93%	5.61%	8.70%
LSR	9.06%	7.80%	6.42%	6.49%	6.25%	5.79%	6.64%
Tangible Assets
Avg YoY	8.16%	6.62%	6.91%	7.49%	6.52%	6.19%	7.47%
Slope	7.73%	6.79%	7.55%	6.34%	6.06%	5.71%	5.53%
CAGR	8.12%	6.59%	6.11%	6.94%	6.10%	5.82%	6.86%
LSR	8.12%	7.00%	8.11%	6.56%	6.27%	5.90%	5.90%
Tangible Equity
Avg YoY	9.05%	1.72%	5.74%	6.61%	5.71%	6.00%	38.08%
Slope	8.68%	1.29%	2.84%	5.46%	5.65%	5.61%	6.34%
CAGR	8.93%	1.37%	4.98%	5.98%	5.23%	5.60%	18.74%
LSR	8.93%	1.22%	3.17%	6.20%	6.14%	6.06%	11.30%
Tangible Book Value
Avg YoY	9.05%	1.72%	5.74%	6.61%	5.71%	6.00%	38.08%
Slope	8.68%	1.29%	2.84%	5.46%	5.65%	5.61%	6.34%
CAGR	8.93%	1.37%	4.98%	5.98%	5.23%	5.60%	18.74%
LSR	8.93%	1.22%	3.17%	6.20%	6.14%	6.06%	11.30%
Total Investments
Avg YoY	-2.08%	1.89%	6.76%	6.16%	5.22%	7.91%	50.03%
Slope	-2.51%	2.44%	7.08%	7.04%	6.67%	1.63%	1.13%
CAGR	-2.56%	1.56%	6.49%	5.91%	4.71%	-0.33%	8.93%
LSR	-2.56%	2.49%	7.74%	7.52%	7.03%	2.45%	3.06%
Net Debt
Avg YoY	4.99%	11.38%	10.11%	10.96%	8.29%	5.69%	16.95%
Slope	4.69%	10.69%	10.44%	9.55%	8.69%	6.72%	6.01%
CAGR	4.88%	11.13%	9.84%	10.65%	7.93%	5.28%	10.23%
LSR	4.88%	11.79%	11.18%	10.25%	9.14%	6.38%	6.48%

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	-179.62%	-150.00%	-13.70%	28.81%	-24.32%	-40.30%	-97.92%
Slope	115.44%	-3.22%	-7.26%	-187.43%	-49.09%	15.72%	7.91%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Capital
Avg YoY	8.10%	6.63%	7.60%	8.14%	7.03%	6.04%	8.54%
Slope	7.67%	6.85%	6.96%	7.42%	7.11%	6.37%	5.96%
CAGR	8.06%	6.59%	7.50%	8.03%	6.92%	5.93%	7.68%
LSR	8.06%	7.06%	7.38%	8.07%	7.62%	6.56%	6.33%
Capital Employed
Avg YoY	7.44%	6.22%	6.01%	6.89%	6.10%	5.99%	7.51%
Slope	7.01%	6.49%	6.00%	6.06%	6.06%	5.85%	5.68%
CAGR	7.36%	6.17%	5.97%	6.84%	6.05%	5.91%	7.06%
LSR	7.36%	6.69%	6.18%	6.41%	6.43%	6.22%	6.19%
Invested Capital
Avg YoY	6.10%	6.28%	7.59%	8.08%	6.82%	5.80%	8.45%
Slope	5.89%	6.34%	6.82%	7.43%	7.09%	6.31%	5.88%
CAGR	6.09%	6.27%	7.48%	7.99%	6.72%	5.70%	7.52%
LSR	6.09%	6.56%	7.31%	8.11%	7.59%	6.46%	6.21%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	1.02%	17.76%	27.44%	19.95%	17.17%	24.20%	16.42%
Slope	-10.29%	3.18%	3.35%	6.34%	7.06%	8.22%	7.79%
CAGR	-8.65%	10.23%	9.51%	7.84%	7.16%	14.49%	6.63%
LSR	-8.65%	3.75%	5.50%	7.31%	7.89%	11.62%	9.93%
Depreciation & Amortization
Avg YoY	7.42%	7.39%	6.24%	7.40%	6.30%	6.57%	6.36%
Slope	7.06%	7.48%	6.53%	6.52%	6.25%	6.23%	5.94%
CAGR	7.38%	7.37%	6.20%	7.32%	6.19%	6.39%	6.20%
LSR	7.38%	7.79%	6.70%	6.87%	6.57%	6.71%	6.35%
Deferred Income Tax
Avg YoY	149.80%	70.28%	-108.68%	-66.11%	44.65%	132.73%	108.37%
Slope	69.75%	-11.52%	63.26%	-66.72%	-23.36%	-12.30%	-7.36%
CAGR	48.55%	8.87%	—	-0.54%	7.57%	23.17%	5.42%
LSR	—	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%
Slope	-150.00%	-32.66%	22.38%	8.62%	12.36%	12.71%	12.16%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Change in Working Capital
Avg YoY	180.14%	33.09%	35.79%	106.50%	15.08%	15.29%	76.39%
Slope	153.74%	59.69%	21.53%	25.56%	23.57%	8.66%	8.53%
CAGR	—	52.49%	24.85%	20.10%	18.53%	0.99%	7.20%
LSR	—	—	—	—	—	—	—
Accounts Receivable
Avg YoY	2,233.78%	1,034.61%	435.23%	292.21%	256.69%	173.73%	22.99%
Slope	459.93%	58.59%	-105.38%	10.18%	-23.87%	-97.25%	-2.83%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Inventory
Avg YoY	24.37%	-341.59%	-156.61%	-167.29%	-114.13%	-139.22%	-265.56%
Slope	53.75%	-116.16%	-136.97%	-2.76%	3.07%	-2.82%	-1.74%
CAGR	-37.83%	—	-7.42%	10.92%	-0.88%	—	—
LSR	-37.83%	—	—	—	—	—	—
Accounts Payable
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-76.63%	-13.76%	19.23%
Slope	0.00%	50.00%	42.42%	24.25%	14.59%	2.60%	3.54%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	13,806.79%	7,047.44%	3,192.01%	2,209.04%	1,507.72%	1,207.39%	992.32%
Slope	146.89%	46.73%	20.76%	18.76%	24.10%	42.95%	17.78%
CAGR	972.82%	102.87%	38.36%	15.22%	9.91%	—	7.55%
LSR	972.82%	8.50%	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-104.50%	-112.83%	-49.87%	-302.56%	-223.43%	-215.53%	-176.11%
Slope	-66.90%	-69.51%	-15.86%	-17.53%	-13.49%	-10.74%	-8.47%
CAGR	92.18%	—	32.37%	—	15.31%	20.47%	9.11%
LSR	92.18%	—	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	3.02%	7.88%	8.32%	7.43%	8.22%	9.75%	10.97%
Slope	-0.07%	2.64%	6.35%	5.90%	6.40%	7.17%	6.94%
CAGR	-0.06%	6.01%	7.35%	6.62%	6.82%	7.02%	6.20%
LSR	-0.06%	2.66%	6.89%	6.16%	6.98%	8.90%	8.26%
Capital Expenditures (PPE)
Avg YoY	-48.50%	-34.58%	-12.87%	-14.16%	-13.21%	-11.86%	-10.53%
Slope	-39.20%	-29.41%	-9.07%	-5.92%	-6.70%	-7.07%	-6.48%
CAGR	46.62%	32.18%	9.53%	11.33%	10.90%	9.73%	8.51%
LSR	46.62%	32.15%	7.32%	5.09%	6.95%	7.90%	6.90%
Acquisitions (Net)
Avg YoY	-100.00%	5,439.64%	2,319.54%	2,319.54%	1,616.80%	1,079.73%	841.17%
Slope	56.48%	50.65%	19.23%	21.89%	-7.06%	-7.72%	-5.26%
CAGR	48.59%	401.48%	—	—	-0.59%	0.34%	7.21%
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	-564.49%	-282.31%	-512.42%	-344.77%	-262.19%	-241.99%	-202.73%
Slope	-101.59%	-76.52%	-26.19%	0.55%	14.74%	5.73%	1.84%
CAGR	425.96%	125.43%	63.99%	0.28%	-5.84%	8.44%	7.15%
LSR	425.96%	148.62%	30.51%	-3.44%	-13.58%	-7.06%	-4.21%
Sales / Maturities of Investments
Avg YoY	259.18%	2,714.38%	1,198.26%	778.53%	638.43%	561.30%	468.72%
Slope	105.59%	76.52%	33.41%	10.05%	-6.01%	-0.02%	1.24%
CAGR	233.56%	—	21.17%	10.25%	3.74%	13.02%	10.24%
LSR	233.56%	—	—	—	—	—	—
Other Investing Activities
Avg YoY	-100.00%	-100.00%	-77.14%	-28.45%	-13.29%	-11.56%	-341.61%
Slope	0.00%	-66.15%	1.22%	-0.56%	83.41%	25.72%	15.65%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-34.50%	-28.67%	-9.40%	-10.47%	-9.82%	-13.51%	-46.39%
Slope	-28.64%	-26.28%	-6.70%	-4.37%	-5.41%	-6.21%	-3.74%
CAGR	34.34%	27.97%	6.69%	8.51%	5.51%	9.09%	7.69%
LSR	34.34%	30.21%	5.50%	3.81%	5.90%	7.33%	5.71%
Net Debt Issuance
Avg YoY	-20.76%	40.52%	-14.56%	46.46%	44.11%	26.62%	210.71%
Slope	-58.25%	2.59%	11.32%	11.43%	15.16%	16.53%	6.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	-20.76%	40.52%	-14.56%	46.46%	44.11%	26.62%	210.71%
Slope	-58.25%	2.59%	11.32%	11.43%	15.16%	16.53%	6.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	91.75%	7.91%	-13.62%	-43.93%	-119.68%	-17.47%	-14.81%
Slope	126.27%	31.30%	-2.78%	-6.71%	-8.88%	-10.68%	-10.54%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock Issuance
Avg YoY	—	-87.26%	50.78%	28.31%	20.67%	100.27%	154.94%
Slope	150.00%	-41.64%	-11.08%	-11.08%	-9.92%	-3.03%	-2.23%
CAGR	—	-19.16%	12.61%	-5.11%	-7.16%	13.73%	3.06%
LSR	—	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	89.70%	9.76%	-11.29%	-26.38%	-17.50%	-17.50%	-11.39%
Slope	124.38%	31.46%	-2.50%	-6.04%	-7.71%	-9.74%	-9.49%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Preferred Stock Issuance
Avg YoY	100.00%	100.00%	100.00%	0.00%	-33.33%	-33.33%	-33.33%
Slope	0.00%	-50.00%	-42.42%	-19.45%	-20.95%	-8.59%	-2.62%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	-4.43%	-9.79%	-10.03%	-10.47%	-14.30%	-11.51%	-10.05%
Slope	-4.19%	-9.63%	-10.55%	-9.45%	-9.75%	-9.90%	-8.41%
CAGR	4.35%	9.57%	9.71%	10.21%	13.69%	8.27%	7.35%
LSR	4.35%	10.45%	11.46%	10.11%	11.81%	13.31%	9.50%
Common Dividends Paid
Avg YoY	-4.43%	-9.79%	-10.03%	-10.47%	-14.30%	-11.51%	-10.05%
Slope	-4.19%	-9.63%	-10.55%	-9.45%	-9.75%	-9.90%	-8.41%
CAGR	4.35%	9.57%	9.71%	10.21%	13.69%	8.27%	7.35%
LSR	4.35%	10.45%	11.46%	10.11%	11.81%	13.31%	9.50%
Other Financing Activities
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-33.33%	-13,337.17%
Slope	0.00%	50.00%	0.35%	13.55%	15.12%	324.57%	-15.46%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	-521.62%	-279.10%	-143.16%	-101.63%	-316.51%	-261.04%	-210.48%
Slope	63.71%	23.80%	-3.26%	-6.21%	-7.02%	-8.27%	-11.95%
CAGR	-35.53%	-8.36%	10.39%	2.33%	8.59%	3.95%	4.07%
LSR	—	—	—	—	—	—	—
Effect of FX on Cash
Avg YoY	—	—	—	—	—	96.56%	96.56%
Slope	—	—	—	—	—	22.95%	12.59%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Change in Cash
Avg YoY	153.70%	26.98%	31.17%	20.95%	19.40%	41.80%	-8.07%
Slope	81.47%	27.17%	64.41%	42.22%	17.22%	25.02%	21.08%
CAGR	—	-37.29%	-2.91%	—	—	—	8.93%
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	100.84%	69.94%	29.14%	30.17%	35.92%	46.10%	62.19%
Slope	40.40%	17.77%	5.34%	4.59%	6.75%	8.15%	8.53%
CAGR	39.46%	32.30%	8.97%	7.02%	9.99%	19.47%	14.29%
LSR	39.46%	15.40%	3.16%	4.42%	8.00%	12.66%	14.79%
Cash at End of Period
Avg YoY	130.69%	49.11%	29.16%	33.24%	39.42%	40.28%	-16.63%
Slope	49.56%	19.57%	10.48%	7.13%	7.64%	9.33%	9.38%
CAGR	93.52%	13.65%	8.03%	8.80%	13.08%	—	13.79%
LSR	93.52%	18.96%	8.52%	7.10%	8.82%	—	—
Operating Cash Flow
Avg YoY	3.02%	7.88%	8.32%	7.43%	8.22%	9.75%	10.97%
Slope	-0.07%	2.64%	6.35%	5.90%	6.40%	7.17%	6.94%
CAGR	-0.06%	6.01%	7.35%	6.62%	6.82%	7.02%	6.20%
LSR	-0.06%	2.66%	6.89%	6.16%	6.98%	8.90%	8.26%
Capital Expenditure
Avg YoY	-13.37%	-17.01%	-5.07%	-9.14%	-9.52%	-8.93%	-8.10%
Slope	-11.58%	-16.88%	-4.70%	-3.75%	-5.40%	-6.19%	-5.83%
CAGR	12.78%	15.93%	3.32%	7.24%	7.88%	7.36%	6.57%
LSR	12.78%	18.99%	4.29%	3.72%	6.15%	7.38%	6.54%
Free Cash Flow
Avg YoY	20.02%	15.11%	31.79%	16.75%	17.01%	32.25%	13.12%
Slope	-16.47%	-11.82%	8.30%	8.78%	7.74%	8.54%	8.55%
CAGR	-12.55%	-3.04%	18.38%	5.81%	5.60%	6.58%	5.75%
LSR	-12.55%	-12.81%	11.63%	9.43%	7.63%	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	-0.22%	9.66%	8.06%	7.74%	6.89%	11.12%	8.52%
Slope	-4.83%	3.05%	5.85%	5.66%	5.84%	6.42%	5.61%
CAGR	-4.33%	6.87%	6.67%	6.64%	5.60%	7.34%	4.88%
LSR	-4.33%	3.23%	6.23%	5.97%	6.21%	7.50%	6.00%
(-) Tax Adjustment
Avg YoY	0.47%	11.09%	-7.64%	-1.97%	2.09%	6.71%	4.16%
Slope	-3.74%	3.05%	3.66%	0.95%	2.53%	4.06%	3.78%
CAGR	-3.38%	7.90%	0.91%	2.90%	4.81%	5.63%	3.09%
LSR	-3.38%	3.43%	—	—	—	—	—
Change In Working Capital
Avg YoY	180.14%	33.09%	35.79%	106.50%	15.08%	15.29%	76.39%
Slope	153.74%	59.69%	21.53%	25.56%	23.57%	8.66%	8.53%
CAGR	—	52.49%	24.85%	20.10%	18.53%	0.99%	7.20%
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-13.37%	-17.01%	-5.07%	-9.14%	-9.52%	-8.93%	-8.10%
Slope	-11.58%	-16.88%	-4.70%	-3.75%	-5.40%	-6.19%	-5.83%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	17.81%	22.77%	143.53%	92.61%	65.79%	194.69%	150.59%
Slope	-57.95%	-18.50%	7.07%	10.78%	8.23%	8.73%	6.76%
CAGR	-37.36%	-10.72%	42.86%	6.89%	1.68%	—	3.65%
LSR	-37.36%	-21.86%	22.84%	14.58%	7.41%	—	—
Net Interest After Taxes
Avg YoY	-9.90%	-9.79%	-11.84%	-10.47%	-3.72%	-3.72%	-3.72%
Slope	-9.47%	-9.59%	-8.75%	-8.59%	-8.37%	-10.16%	-10.39%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	-20.76%	40.52%	-14.56%	46.46%	44.11%	26.62%	210.71%
Slope	-58.25%	2.59%	11.32%	11.43%	15.16%	16.53%	6.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	-38.23%	-1.43%	21.05%	22.14%	18.08%	37.79%	34.00%
Slope	-45.64%	-7.82%	8.50%	10.57%	9.90%	10.71%	7.31%
CAGR	-38.36%	-9.03%	5.19%	8.86%	4.41%	—	5.63%
LSR	-38.36%	-9.60%	11.78%	12.87%	11.30%	—	—