The Home Depot, Inc. (HD)

Analysis: Growth Rates Industry: Home Improvement Sector: Consumer Cyclical Live Price: $380.17

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	12.80%	12.46%	15.40%	20.14%	15.23%	13.30%	18.43%
Slope	12.09%	7.82%	12.31%	14.01%	13.36%	11.39%	10.17%
CAGR	12.73%	11.13%	14.02%	18.84%	12.98%	9.35%	13.60%
LSR	12.73%	8.39%	14.17%	18.62%	17.24%	12.73%	11.50%
Market Capitalization
Avg YoY	12.80%	12.47%	15.42%	20.16%	15.22%	13.34%	18.40%
Slope	12.09%	7.84%	12.33%	14.03%	13.37%	11.41%	10.21%
CAGR	12.73%	11.15%	14.04%	18.86%	12.99%	9.41%	13.70%
LSR	12.73%	8.41%	14.19%	18.65%	17.25%	12.75%	11.56%
(-) Cash & Equivalents
Avg YoY	-7.98%	-16.07%	28.37%	41.60%	35.99%	84.00%	79.26%
Slope	-18.84%	-27.67%	3.68%	8.08%	10.16%	9.11%	9.48%
CAGR	-21.19%	-30.89%	-0.37%	12.31%	8.27%	14.06%	15.63%
LSR	-21.19%	-21.56%	3.51%	10.33%	14.49%	12.30%	16.36%
(+) Total Debt
Avg YoY	13.21%	11.84%	16.21%	18.88%	24.75%	25.89%	26.16%
Slope	12.43%	10.75%	13.89%	14.89%	13.54%	13.22%	12.35%
CAGR	12.99%	11.71%	15.97%	18.42%	20.20%	20.91%	19.76%
LSR	12.99%	11.20%	16.10%	19.27%	17.24%	22.37%	21.46%
Enterprise Value
Avg YoY	13.07%	12.94%	15.54%	19.88%	15.25%	13.55%	18.42%
Slope	12.34%	8.53%	12.61%	14.20%	13.42%	11.65%	10.46%
CAGR	12.97%	11.80%	14.39%	18.84%	13.59%	9.99%	14.12%
LSR	12.97%	9.15%	14.51%	18.81%	17.12%	13.23%	12.08%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	0.74%	5.01%	6.95%	6.40%	3.80%	5.57%	8.79%
Slope	0.67%	3.74%	7.14%	6.71%	4.89%	4.50%	5.28%
CAGR	0.67%	4.83%	6.76%	6.28%	3.60%	5.34%	8.38%
LSR	0.67%	3.95%	7.58%	6.98%	4.73%	4.45%	6.35%
Cost of Revenue
Avg YoY	0.82%	5.22%	7.09%	6.50%	4.14%	5.32%	8.52%
Slope	0.76%	3.93%	7.30%	6.82%	4.96%	4.42%	5.16%
CAGR	0.75%	5.04%	6.90%	6.38%	3.93%	5.12%	8.13%
LSR	0.75%	4.15%	7.75%	7.10%	4.79%	4.31%	6.10%
Gross Profit
Avg YoY	0.58%	4.58%	6.67%	6.21%	4.05%	6.07%	9.37%
Slope	0.51%	3.37%	6.83%	6.48%	4.98%	4.77%	5.58%
CAGR	0.50%	4.41%	6.49%	6.09%	3.86%	5.83%	8.93%
LSR	0.50%	3.54%	7.25%	6.76%	4.86%	4.85%	6.95%
Gross Margin
Avg YoY	-0.17%	-0.39%	-0.25%	-0.18%	0.27%	0.49%	0.53%
Slope	-0.17%	-0.39%	-0.31%	-0.21%	0.12%	0.37%	0.54%
CAGR	-0.17%	-0.39%	-0.25%	-0.18%	0.26%	0.46%	0.51%
LSR	-0.17%	-0.39%	-0.31%	-0.21%	0.13%	0.38%	0.56%
SG&A Expenses
Avg YoY	4.64%	4.16%	6.35%	4.51%	3.20%	5.02%	8.47%
Slope	4.53%	3.72%	6.49%	4.77%	2.98%	3.16%	4.39%
CAGR	4.58%	4.13%	6.15%	4.35%	2.97%	4.73%	7.98%
LSR	4.58%	3.77%	6.80%	4.72%	2.79%	3.21%	5.67%
Operating Expenses
Avg YoY	5.21%	4.60%	6.38%	4.52%	3.31%	5.48%	8.61%
Slope	5.08%	4.12%	6.47%	4.80%	3.27%	3.57%	4.67%
CAGR	5.16%	4.57%	6.20%	4.37%	3.05%	5.17%	8.14%
LSR	5.16%	4.18%	6.76%	4.75%	3.09%	3.69%	5.97%
Operating Income (EBIT)
Avg YoY	-5.26%	4.97%	7.38%	10.13%	5.79%	8.22%	11.86%
Slope	-5.60%	2.37%	7.33%	9.03%	7.64%	6.73%	7.10%
CAGR	-5.37%	4.17%	6.93%	9.77%	4.48%	7.06%	10.53%
LSR	-5.37%	2.70%	7.92%	10.50%	8.19%	6.92%	8.71%
Operating Margin
Avg YoY	-5.99%	-0.41%	0.29%	3.46%	1.68%	2.30%	2.58%
Slope	-6.20%	-1.19%	0.32%	2.95%	3.02%	2.32%	2.22%
CAGR	-6.00%	-0.62%	0.16%	3.28%	0.85%	1.63%	1.99%
LSR	-6.00%	-1.20%	0.32%	3.29%	3.31%	2.36%	2.22%
Interest Income
Avg YoY	118.28%	63.79%	27.89%	207.79%	154.44%	147.25%	147.25%
Slope	50.46%	42.10%	6.52%	6.27%	6.57%	8.17%	9.01%
CAGR	91.17%	43.81%	2.15%	20.37%	6.39%	—	—
LSR	91.17%	53.79%	5.44%	14.34%	8.56%	—	—
Interest Expense
Avg YoY	19.81%	14.91%	11.11%	11.33%	30.33%	134.54%	114.40%
Slope	17.96%	14.83%	10.23%	9.48%	8.64%	10.23%	10.27%
CAGR	19.81%	14.57%	10.84%	11.13%	19.31%	—	—
LSR	19.81%	15.66%	10.30%	9.98%	10.87%	—	—
Net Interest Income
Avg YoY	16.55%	13.30%	12.55%	12.06%	100.85%	110.40%	92.36%
Slope	-15.37%	-13.06%	-10.51%	-9.76%	-8.82%	-10.42%	-10.38%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	16.55%	13.30%	12.54%	11.73%	43.93%	58.68%	-45.97%
Slope	-15.37%	-13.06%	-10.49%	-9.75%	-8.49%	-10.29%	-10.33%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	16.55%	13.30%	12.54%	11.73%	43.93%	58.68%	-45.97%
Slope	15.37%	13.06%	10.49%	9.75%	8.49%	10.29%	10.33%
CAGR	16.50%	13.01%	12.19%	10.25%	21.80%	—	—
LSR	16.50%	13.67%	10.93%	10.25%	11.18%	—	—
EBT excl. Unusual
Avg YoY	-11.39%	2.86%	6.14%	10.39%	6.37%	8.52%	12.20%
Slope	-12.34%	-0.69%	6.47%	8.84%	7.44%	5.90%	6.37%
CAGR	-11.48%	1.34%	5.32%	9.62%	2.68%	5.45%	9.11%
LSR	-11.48%	-0.48%	6.98%	10.59%	8.60%	5.97%	7.58%
Pre-Tax Income
Avg YoY	-6.98%	4.37%	7.02%	10.20%	5.78%	8.14%	11.77%
Slope	-7.45%	1.51%	7.08%	8.98%	7.60%	6.50%	6.89%
CAGR	-7.08%	3.40%	6.49%	9.75%	3.96%	6.57%	10.09%
LSR	-7.08%	1.82%	7.66%	10.53%	8.30%	6.62%	8.36%
Pre-Tax Margin
Avg YoY	-7.69%	-1.05%	-0.08%	3.51%	1.60%	2.17%	2.46%
Slope	-8.03%	-2.02%	0.10%	2.94%	3.02%	2.02%	1.90%
CAGR	-7.70%	-1.36%	-0.26%	3.27%	0.35%	1.16%	1.58%
LSR	-7.70%	-2.05%	0.08%	3.31%	3.41%	2.07%	1.88%
Income Tax Expense
Avg YoY	-7.39%	3.87%	3.06%	7.60%	4.03%	6.54%	10.45%
Slope	-7.85%	0.94%	2.01%	5.14%	4.61%	4.10%	5.07%
CAGR	-7.46%	2.84%	1.53%	6.38%	1.53%	4.40%	8.23%
LSR	-7.46%	1.21%	2.06%	5.96%	5.22%	4.31%	6.47%
Net Income
Avg YoY	-6.85%	4.53%	9.39%	11.76%	7.06%	9.29%	12.72%
Slope	-7.33%	1.70%	8.94%	10.51%	8.73%	7.48%	7.67%
CAGR	-6.96%	3.57%	8.66%	11.23%	5.02%	7.55%	10.93%
LSR	-6.96%	2.01%	10.16%	12.55%	9.48%	7.59%	9.20%
Net Margin
Avg YoY	-7.57%	-0.89%	2.14%	4.98%	2.85%	3.28%	3.38%
Slope	-7.91%	-1.84%	2.25%	4.64%	4.13%	3.01%	2.75%
CAGR	-7.58%	-1.19%	1.78%	4.66%	1.37%	2.10%	2.35%
LSR	-7.58%	-1.86%	2.39%	5.20%	4.53%	3.00%	2.68%
Depreciation & Amortization
Avg YoY	12.49%	10.63%	8.19%	5.86%	4.86%	8.30%	11.55%
Slope	11.81%	9.34%	7.76%	5.90%	3.88%	4.79%	5.96%
CAGR	12.44%	10.54%	8.12%	5.76%	4.67%	7.94%	11.02%
LSR	12.44%	9.72%	7.93%	5.79%	3.61%	5.37%	8.51%
EBITDA
Avg YoY	-3.14%	5.64%	7.45%	9.27%	5.34%	7.97%	11.59%
Slope	-3.35%	3.23%	7.38%	8.61%	7.09%	6.45%	6.94%
CAGR	-3.25%	5.01%	7.10%	9.01%	4.51%	7.18%	10.60%
LSR	-3.25%	3.59%	7.94%	9.74%	7.38%	6.66%	8.68%
EBITDA Margin
Avg YoY	-3.89%	0.31%	0.41%	2.68%	1.32%	2.11%	2.38%
Slope	-3.98%	-0.35%	0.33%	2.38%	2.38%	2.07%	2.14%
CAGR	-3.89%	0.17%	0.32%	2.57%	0.88%	1.74%	2.05%
LSR	-3.89%	-0.34%	0.33%	2.58%	2.53%	2.11%	2.19%
NOPAT
Avg YoY	-5.26%	4.97%	7.38%	10.13%	5.79%	8.22%	11.86%
Slope	-5.60%	2.37%	7.33%	9.03%	7.64%	6.73%	7.10%
CAGR	-5.37%	4.17%	6.93%	9.77%	4.48%	7.06%	10.53%
LSR	-5.37%	2.70%	7.92%	10.50%	8.19%	6.92%	8.71%
NOPAT Margin
Avg YoY	-5.99%	-0.41%	0.29%	3.46%	1.68%	2.30%	2.58%
Slope	-6.20%	-1.19%	0.32%	2.95%	3.02%	2.32%	2.22%
CAGR	-6.00%	-0.62%	0.16%	3.28%	0.85%	1.63%	1.99%
LSR	-6.00%	-1.20%	0.32%	3.29%	3.31%	2.36%	2.22%
Owner's Earnings
Avg YoY	-5.57%	4.93%	8.97%	10.50%	9.41%	17.16%	24.26%
Slope	-5.97%	1.79%	8.77%	9.91%	9.55%	10.01%	10.38%
CAGR	-5.70%	3.94%	8.28%	10.02%	7.93%	—	—
LSR	-5.70%	2.13%	9.80%	11.45%	10.83%	—	—
Owner's Earnings Margin
Avg YoY	-6.32%	-0.53%	1.69%	3.74%	5.53%	11.47%	13.89%
Slope	-6.57%	-1.75%	1.98%	3.84%	5.10%	6.77%	8.58%
CAGR	-6.33%	-0.84%	1.42%	3.52%	4.19%	—	—
LSR	-6.33%	-1.74%	2.06%	4.17%	5.83%	—	—
EPS (Basic)
Avg YoY	-5.38%	6.68%	12.55%	15.97%	11.23%	12.98%	15.34%
Slope	-5.70%	3.71%	11.30%	13.08%	11.90%	10.72%	10.24%
CAGR	-5.47%	5.70%	11.78%	15.35%	9.36%	11.42%	13.82%
LSR	-5.47%	4.24%	13.34%	16.81%	14.05%	12.12%	12.99%
EPS (Diluted)
Avg YoY	-5.39%	6.70%	12.57%	15.99%	11.23%	13.04%	15.42%
Slope	-5.71%	3.73%	11.32%	13.10%	11.91%	10.73%	10.26%
CAGR	-5.48%	5.72%	11.80%	15.38%	9.37%	11.48%	13.93%
LSR	-5.48%	4.27%	13.36%	16.84%	14.05%	12.13%	13.06%
Shares (Basic)
Avg YoY	-1.58%	-2.01%	-2.78%	-3.56%	-3.94%	-3.44%	-2.49%
Slope	-1.59%	-2.17%	-2.87%	-3.79%	-4.16%	-4.09%	-3.22%
CAGR	-1.58%	-2.02%	-2.79%	-3.57%	-3.97%	-3.48%	-2.54%
LSR	-1.58%	-2.14%	-2.81%	-3.65%	-4.01%	-4.04%	-3.35%
Shares (Diluted)
Avg YoY	-1.57%	-2.03%	-2.80%	-3.58%	-3.94%	-3.50%	-2.58%
Slope	-1.59%	-2.19%	-2.90%	-3.82%	-4.16%	-4.11%	-3.28%
CAGR	-1.57%	-2.03%	-2.81%	-3.60%	-3.98%	-3.53%	-2.63%
LSR	-1.57%	-2.16%	-2.83%	-3.68%	-4.01%	-4.05%	-3.41%

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Non-US
Avg YoY	48.06%	48.06%	48.06%	48.06%	48.06%
Slope	38.75%	38.75%	38.75%	38.75%	38.75%
CAGR	48.06%	48.06%	48.06%	48.06%	48.06%
LSR	—	—	—	—	—

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	-7.98%	-16.07%	28.37%	41.60%	35.99%	84.00%	79.26%
Slope	-18.84%	-27.67%	3.68%	8.08%	10.16%	9.11%	9.48%
CAGR	-21.19%	-30.89%	-0.37%	12.31%	8.27%	14.06%	15.63%
LSR	-21.19%	-21.56%	3.51%	10.33%	14.49%	12.30%	16.36%
Short-Term Investments
Avg YoY	—	—	—	—	-36.40%	332.55%	339.08%
Slope	—	—	—	—	-24.65%	-16.43%	-8.07%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	-7.98%	-16.07%	28.37%	41.60%	35.77%	81.36%	77.35%
Slope	-18.84%	-27.67%	3.68%	8.08%	10.14%	8.09%	8.79%
CAGR	-21.19%	-30.89%	-0.37%	12.31%	8.17%	13.79%	15.63%
LSR	-21.19%	-21.56%	3.51%	10.33%	14.38%	10.43%	15.56%
Net Receivables
Avg YoY	25.65%	16.98%	15.60%	16.45%	11.18%	14.60%	15.66%
Slope	22.20%	12.59%	13.19%	12.67%	9.64%	9.10%	8.95%
CAGR	23.52%	15.49%	14.38%	15.53%	8.14%	11.59%	12.77%
LSR	23.52%	12.50%	13.91%	14.19%	9.78%	9.69%	10.73%
Inventory
Avg YoY	-0.48%	12.67%	11.71%	10.22%	8.61%	9.73%	11.93%
Slope	-1.44%	7.83%	11.35%	10.26%	8.53%	8.16%	8.20%
CAGR	-1.37%	11.24%	11.04%	9.76%	8.17%	9.31%	11.47%
LSR	-1.37%	8.93%	12.45%	10.92%	8.53%	8.70%	9.97%
Other Current Assets
Avg YoY	7.16%	17.81%	16.91%	8.60%	12.84%	16.81%	23.90%
Slope	6.40%	15.44%	15.22%	8.75%	6.00%	7.69%	8.03%
CAGR	6.81%	17.14%	15.96%	6.06%	9.31%	13.03%	12.70%
LSR	6.81%	18.05%	17.67%	8.22%	5.51%	10.71%	11.96%
Total Current Assets
Avg YoY	0.59%	5.12%	11.41%	10.78%	8.79%	10.47%	12.46%
Slope	0.37%	4.50%	10.78%	10.19%	8.71%	8.23%	8.34%
CAGR	0.36%	4.83%	10.64%	10.26%	8.22%	9.91%	11.84%
LSR	0.36%	4.67%	11.97%	11.06%	8.91%	8.84%	10.40%
Property, Plant & Equipment
Avg YoY	5.76%	5.74%	8.64%	6.53%	6.30%	8.30%	10.63%
Slope	5.58%	5.87%	8.81%	6.96%	5.67%	6.10%	6.78%
CAGR	5.76%	5.72%	8.33%	6.30%	6.07%	8.04%	10.29%
LSR	5.76%	6.05%	9.52%	7.01%	5.56%	6.73%	8.88%
Goodwill
Avg YoY	74.31%	39.57%	44.85%	35.91%	28.09%	36.22%	36.22%
Slope	52.46%	27.98%	26.58%	21.78%	15.52%	14.02%	13.07%
CAGR	64.33%	31.24%	31.76%	26.67%	14.37%	23.11%	—
LSR	64.33%	26.57%	31.52%	25.53%	14.56%	16.07%	—
Intangible Assets
Avg YoY	151.37%	151.37%	151.37%	151.37%	25.69%	744.51%	286.27%
Slope	107.31%	85.77%	51.10%	35.98%	26.90%	21.99%	17.57%
CAGR	—	—	—	—	22.71%	—	20.50%
LSR	—	—	—	—	—	—	—
Long-Term Investments
Avg YoY	—	-82.82%	-82.82%	-82.82%	-82.82%	-82.82%	-82.82%
Slope	—	-87.21%	9.16%	17.44%	17.31%	15.88%	14.36%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Tax Assets
Avg YoY	—	-42.54%	12.74%	12.74%	12.74%	-15.45%	-15.45%
Slope	—	-73.26%	9.33%	17.52%	17.35%	15.34%	13.98%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Non-Current Assets
Avg YoY	-38.92%	-17.33%	42.20%	40.20%	34.94%	35.38%	31.45%
Slope	-91.43%	-35.11%	7.60%	12.94%	11.30%	11.03%	10.63%
CAGR	-57.76%	-33.66%	-3.31%	7.80%	5.33%	8.55%	8.65%
LSR	-57.76%	-39.26%	4.53%	14.93%	11.33%	12.54%	13.61%
Total Non-Current Assets
Avg YoY	23.92%	14.36%	14.90%	11.13%	9.22%	11.18%	12.98%
Slope	21.35%	12.36%	13.28%	10.22%	7.78%	7.69%	7.97%
CAGR	22.99%	13.53%	14.06%	10.48%	8.58%	10.60%	12.42%
LSR	22.99%	12.27%	14.23%	10.14%	7.21%	8.08%	10.01%
Total Assets
Avg YoY	14.57%	10.67%	13.44%	10.87%	8.96%	10.83%	12.69%
Slope	13.45%	9.32%	12.30%	10.21%	8.13%	7.89%	8.11%
CAGR	13.92%	10.27%	12.81%	10.41%	8.46%	10.36%	12.22%
LSR	13.92%	9.41%	13.38%	10.50%	7.85%	8.37%	10.16%
Accounts Payable
Avg YoY	4.87%	3.92%	11.29%	11.73%	8.94%	13.18%	13.92%
Slope	3.88%	-0.17%	9.65%	10.32%	8.78%	8.40%	8.59%
CAGR	3.77%	2.80%	9.96%	10.84%	7.95%	11.73%	12.62%
LSR	3.77%	-0.19%	10.84%	11.72%	9.11%	9.41%	11.33%
Short-Term Debt
Avg YoY	85.62%	54.78%	62.75%	417.23%	959.67%	1,357.36%	1,125.92%
Slope	57.10%	19.53%	15.47%	17.06%	12.84%	12.79%	12.20%
CAGR	71.11%	31.45%	38.44%	17.78%	12.54%	40.75%	34.84%
LSR	71.11%	18.10%	22.49%	34.01%	20.12%	—	—
Tax Payables
Avg YoY	96.64%	39.64%	28.01%	22.45%	18.14%	18.14%	18.14%
Slope	54.16%	7.71%	10.39%	10.32%	10.04%	11.23%	11.13%
CAGR	61.47%	13.15%	15.64%	14.18%	—	—	—
LSR	61.47%	3.01%	9.57%	10.54%	—	—	—
Deferred Revenue
Avg YoY	-6.22%	1.33%	10.06%	10.60%	7.12%	9.84%	9.84%
Slope	-6.46%	-2.16%	9.94%	10.68%	8.94%	8.73%	9.39%
CAGR	-6.23%	0.09%	8.90%	9.80%	6.33%	—	—
LSR	-6.23%	-2.00%	11.46%	12.24%	9.21%	—	—
Other Current Liabilities
Avg YoY	7.01%	6.51%	10.78%	10.42%	8.02%	8.51%	12.34%
Slope	6.64%	5.30%	10.38%	10.05%	8.48%	7.90%	8.01%
CAGR	6.95%	6.22%	10.33%	10.12%	7.57%	8.03%	11.55%
LSR	6.95%	5.53%	11.45%	10.99%	8.64%	8.25%	9.75%
Total Current Liabilities
Avg YoY	14.41%	9.54%	13.85%	12.61%	9.51%	13.04%	14.81%
Slope	12.91%	3.93%	10.69%	11.13%	9.26%	8.91%	9.02%
CAGR	13.14%	7.65%	12.80%	11.74%	8.70%	12.09%	13.92%
LSR	13.14%	3.87%	12.15%	12.68%	9.54%	9.98%	12.15%
Long-Term Debt
Avg YoY	9.71%	10.45%	15.17%	19.53%	32.69%	31.75%	31.19%
Slope	9.30%	10.10%	13.77%	14.74%	13.59%	13.25%	12.36%
CAGR	9.64%	10.29%	14.89%	18.50%	22.24%	20.40%	19.35%
LSR	9.64%	10.62%	15.84%	19.08%	17.96%	22.73%	21.38%
Capital Lease Obligations
Avg YoY	13.26%	12.03%	10.98%	10.98%	10.98%	10.98%	10.98%
Slope	12.29%	12.25%	28.12%	25.82%	22.02%	18.88%	16.45%
CAGR	13.23%	11.82%	—	—	—	—	—
LSR	13.23%	13.00%	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	58.02%	28.41%	30.91%	26.61%	16.75%	25.16%	28.52%
Slope	38.43%	16.16%	19.06%	14.68%	9.98%	8.04%	8.59%
CAGR	40.98%	17.15%	23.51%	19.45%	8.22%	14.13%	17.75%
LSR	40.98%	13.52%	22.54%	15.96%	—	—	—
Other Non-Current Liabilities
Avg YoY	5.11%	13.83%	7.78%	6.31%	11.52%	17.44%	16.93%
Slope	4.74%	13.07%	7.57%	5.53%	5.47%	7.41%	8.19%
CAGR	4.95%	13.25%	6.75%	5.59%	8.90%	14.63%	14.54%
LSR	4.95%	14.72%	7.40%	5.24%	6.02%	11.44%	14.43%
Total Non-Current Liabilities
Avg YoY	10.56%	10.93%	16.93%	19.25%	25.15%	24.97%	25.01%
Slope	10.08%	10.62%	15.02%	15.20%	13.70%	13.21%	12.33%
CAGR	10.50%	10.76%	16.31%	18.27%	19.91%	20.23%	19.45%
LSR	10.50%	11.18%	17.71%	19.19%	17.09%	20.69%	20.46%
Total Liabilities
Avg YoY	11.49%	9.95%	15.54%	16.05%	14.97%	17.00%	17.78%
Slope	10.87%	8.61%	13.65%	13.87%	12.17%	11.68%	11.14%
CAGR	11.25%	9.81%	15.17%	15.73%	14.05%	16.18%	16.92%
LSR	11.25%	8.87%	15.90%	16.77%	13.74%	14.98%	16.15%
Common Stock
Avg YoY	1.60%	2.36%	3.15%	4.08%	2.80%	2.74%	2.65%
Slope	1.58%	2.40%	3.10%	3.91%	3.48%	2.91%	4.79%
CAGR	1.60%	2.36%	3.15%	4.07%	2.58%	2.57%	—
LSR	1.60%	2.44%	3.19%	4.11%	3.56%	2.88%	—
Retained Earnings
Avg YoY	9.64%	13.79%	15.83%	17.93%	13.14%	15.74%	18.06%
Slope	9.13%	12.56%	14.12%	14.59%	12.68%	11.30%	10.77%
CAGR	9.63%	13.71%	15.77%	17.85%	10.52%	13.50%	16.06%
LSR	9.63%	13.83%	16.22%	18.31%	14.66%	12.68%	14.09%
Accumulated OCI
Avg YoY	53.40%	29.74%	13.42%	-71.08%	-78.94%	-15.87%	-10.69%
Slope	-28.30%	-11.66%	-3.00%	-18.53%	-24.74%	-19.56%	-16.84%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	-100.00%	-22.18%
Slope	—	—	—	—	—	-23.08%	-17.51%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	9.46%	13.76%	16.03%	17.52%	12.72%	15.47%	17.86%
Slope	8.95%	12.56%	14.24%	14.52%	12.56%	11.22%	10.71%
CAGR	9.44%	13.67%	15.96%	17.46%	10.35%	13.43%	16.02%
LSR	9.44%	13.85%	16.43%	18.03%	14.35%	12.53%	14.01%
Total Equity
Avg YoY	9.46%	13.76%	16.03%	17.52%	12.72%	15.47%	17.73%
Slope	8.95%	12.56%	14.24%	14.52%	12.56%	11.22%	10.70%
CAGR	9.44%	13.67%	15.96%	17.46%	10.35%	13.42%	15.90%
LSR	9.44%	13.85%	16.43%	18.03%	14.35%	12.53%	13.95%
Total Liabilities & Equity
Avg YoY	10.41%	11.58%	15.64%	16.60%	12.85%	15.47%	17.16%
Slope	9.94%	10.47%	13.93%	14.18%	12.36%	11.46%	10.93%
CAGR	10.38%	11.55%	15.54%	16.50%	11.99%	14.67%	16.40%
LSR	10.38%	11.16%	16.16%	17.35%	13.81%	13.56%	14.96%
Tangible Assets
Avg YoY	0.74%	3.87%	9.58%	8.22%	7.26%	9.13%	11.28%
Slope	0.62%	3.44%	9.66%	8.55%	7.12%	7.14%	7.54%
CAGR	0.61%	3.73%	9.11%	7.91%	6.96%	8.82%	10.92%
LSR	0.61%	3.54%	10.65%	8.94%	7.10%	7.75%	9.64%
Tangible Equity
Avg YoY	-4.54%	7.63%	12.60%	15.39%	11.08%	13.64%	16.24%
Slope	-5.05%	6.99%	11.69%	13.16%	11.89%	10.67%	10.29%
CAGR	-5.11%	6.62%	11.96%	14.90%	8.88%	11.75%	14.49%
LSR	-5.11%	7.75%	13.63%	16.63%	13.99%	12.06%	13.48%
Tangible Book Value
Avg YoY	-4.54%	7.63%	12.60%	15.39%	11.08%	13.64%	16.24%
Slope	-5.05%	6.99%	11.69%	13.16%	11.89%	10.67%	10.29%
CAGR	-5.11%	6.62%	11.96%	14.90%	8.88%	11.75%	14.49%
LSR	-5.11%	7.75%	13.63%	16.63%	13.99%	12.06%	13.48%
Total Investments
Avg YoY	—	-82.82%	-82.82%	-82.82%	-51.88%	257.03%	268.76%
Slope	—	-87.21%	9.16%	17.44%	13.19%	-12.61%	-5.42%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt
Avg YoY	15.18%	17.05%	17.46%	19.73%	28.32%	35.30%	34.69%
Slope	14.06%	13.69%	14.73%	15.51%	13.84%	13.62%	12.62%
CAGR	14.66%	16.67%	17.05%	18.68%	21.40%	21.35%	19.97%
LSR	14.66%	14.87%	17.05%	20.23%	17.59%	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	-37.95%	600.05%	289.07%	190.17%	146.92%	115.76%	99.41%
Slope	-45.85%	7.22%	11.23%	5.98%	6.28%	5.45%	5.66%
CAGR	-42.27%	-11.35%	-0.16%	2.95%	5.05%	3.16%	5.86%
LSR	-42.27%	24.06%	6.45%	1.66%	3.97%	3.50%	4.71%
Total Capital
Avg YoY	17.75%	13.24%	14.83%	11.13%	9.28%	10.58%	12.48%
Slope	16.24%	12.21%	13.41%	10.34%	7.99%	7.71%	7.90%
CAGR	17.06%	12.50%	13.93%	10.45%	8.62%	10.01%	11.91%
LSR	17.06%	12.47%	14.47%	10.29%	7.47%	7.93%	9.57%
Capital Employed
Avg YoY	14.71%	12.43%	14.00%	10.76%	9.23%	10.51%	12.37%
Slope	13.68%	11.86%	13.09%	9.78%	7.62%	7.44%	7.71%
CAGR	14.26%	11.48%	12.81%	9.91%	8.36%	9.79%	11.68%
LSR	14.26%	12.26%	13.96%	9.58%	7.12%	7.70%	9.42%
Invested Capital
Avg YoY	20.05%	17.78%	15.32%	10.96%	9.21%	10.48%	12.40%
Slope	17.96%	15.13%	14.18%	10.52%	7.84%	7.62%	7.79%
CAGR	18.84%	17.11%	14.69%	10.41%	8.63%	9.94%	11.86%
LSR	18.84%	15.92%	15.17%	10.26%	7.13%	7.77%	9.32%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	-5.39%	6.70%	12.57%	15.99%	11.23%	13.04%	15.42%
Slope	-5.71%	3.73%	11.32%	13.10%	11.91%	10.73%	10.26%
CAGR	-5.48%	5.72%	11.80%	15.38%	9.37%	11.48%	13.93%
LSR	-5.48%	4.27%	13.36%	16.84%	14.05%	12.13%	13.06%
Depreciation & Amortization
Avg YoY	14.26%	12.90%	11.28%	9.76%	9.20%	12.20%	14.39%
Slope	13.37%	11.48%	10.47%	9.39%	7.86%	8.26%	8.61%
CAGR	14.23%	12.83%	11.24%	9.70%	9.01%	11.89%	14.02%
LSR	14.23%	12.15%	11.07%	9.83%	7.94%	9.82%	12.34%
Deferred Income Tax
Avg YoY	—	75.29%	97.44%	97.44%	-16.44%	-19.37%	-21.46%
Slope	—	83.46%	-13.03%	-19.15%	0.78%	-22.49%	-19.80%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	11.79%	12.35%	10.57%	9.69%	7.18%	7.18%	7.18%
Slope	11.18%	8.59%	9.25%	8.80%	8.59%	10.30%	10.49%
CAGR	11.65%	11.54%	9.91%	9.25%	—	—	—
LSR	11.65%	9.19%	9.70%	9.30%	—	—	—
Change in Working Capital
Avg YoY	34.27%	-58.27%	94.87%	77.85%	119.74%	137.15%	104.62%
Slope	314.72%	14.42%	-27.76%	-37.98%	-1,728.85%	-114.12%	-164.56%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Accounts Receivable
Avg YoY	27.26%	46.39%	-53.25%	-75.96%	-71.47%	-96.21%	-93.30%
Slope	24.06%	206.70%	25.80%	7.97%	-2.08%	-0.63%	-1.83%
CAGR	27.20%	—	—	—	—	—	—
LSR	27.20%	—	—	—	—	—	—
Inventory
Avg YoY	65.71%	-13.72%	-175.64%	-141.05%	-96.81%	-108.62%	-93.87%
Slope	487.32%	89.75%	2.66%	-9.50%	-11.46%	-7.00%	-5.18%
CAGR	—	-16.47%	6.47%	9.35%	2.69%	2.08%	4.66%
LSR	—	—	—	—	—	—	—
Accounts Payable
Avg YoY	90.52%	-20.49%	1,787.56%	1,200.79%	1,053.63%	1,053.63%	1,053.63%
Slope	133.91%	-167.70%	-19.72%	-0.43%	10.06%	11.24%	11.14%
CAGR	—	-42.43%	-3.09%	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	99.70%	-65.09%	22.26%	51.55%	143.36%	116.85%	102.14%
Slope	285.77%	42.42%	-3,252.60%	-50.65%	-18.83%	-12.46%	-6.86%
CAGR	—	—	—	—	3.18%	2.68%	6.21%
LSR	—	—	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-23.54%	-29.53%	452.67%	366.11%	232.99%	224.71%	186.51%
Slope	-34.27%	-33.79%	14.60%	22.74%	177.35%	122.72%	88.71%
CAGR	-36.16%	-35.95%	—	—	—	—	—
LSR	-36.16%	-32.41%	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	21.30%	5.82%	13.52%	16.68%	11.95%	15.34%	18.36%
Slope	15.43%	5.89%	10.73%	11.96%	10.86%	9.88%	9.76%
CAGR	18.29%	3.37%	11.81%	15.16%	10.33%	12.47%	15.18%
LSR	18.29%	5.80%	12.11%	14.54%	12.23%	11.07%	13.29%
Capital Expenditures (PPE)
Avg YoY	-7.41%	-11.61%	-13.53%	-13.04%	-6.01%	-6.02%	-8.86%
Slope	-7.16%	-11.20%	-11.07%	-11.36%	-6.14%	-3.68%	-4.02%
CAGR	7.39%	11.33%	12.97%	12.66%	3.55%	3.57%	6.32%
LSR	7.39%	12.09%	12.66%	13.06%	6.10%	3.11%	3.87%
Acquisitions (Net)
Avg YoY	-1,075.95%	-293.82%	-97.88%	-185.25%	-129.83%	-155.32%	-144.39%
Slope	-138.24%	-41.30%	-35.18%	-28.41%	-25.19%	-20.08%	-17.23%
CAGR	—	25.26%	33.73%	—	15.31%	36.02%	—
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	—	—	—	—	27.45%	-1,718.91%	-1,322.21%
Slope	—	—	—	—	25.90%	13.29%	6.00%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	—	—	-100.00%	-84.41%	-46.86%	1,047.85%	829.48%
Slope	—	—	-54.55%	-15.60%	-25.59%	-13.12%	-5.89%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Investing Activities
Avg YoY	476.28%	164.32%	92.54%	81.60%	59.51%	58.79%	55.67%
Slope	200.46%	16.07%	2.44%	3.56%	-6.59%	-4.10%	-1.03%
CAGR	—	9.87%	12.75%	—	1.36%	5.58%	5.56%
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-201.41%	-85.43%	-73.38%	-61.21%	-46.41%	-38.57%	-37.61%
Slope	-93.82%	-30.83%	-24.70%	-20.47%	-15.43%	-10.74%	-9.37%
CAGR	162.94%	22.41%	27.83%	28.83%	12.83%	11.66%	13.44%
LSR	162.94%	23.83%	22.62%	21.01%	—	—	—
Net Debt Issuance
Avg YoY	523.39%	262.68%	126.20%	1,251.63%	928.81%	940.06%	816.49%
Slope	64.14%	22.31%	9.99%	12.36%	10.72%	11.31%	10.72%
CAGR	62.98%	23.61%	12.26%	—	12.98%	14.81%	13.40%
LSR	62.98%	5.32%	3.25%	—	—	—	—
Long-Term Debt Issuance
Avg YoY	498.84%	286.08%	139.01%	1,261.08%	861.53%	878.82%	765.81%
Slope	46.23%	17.88%	11.01%	12.94%	11.03%	11.50%	10.85%
CAGR	40.19%	16.11%	11.99%	—	16.72%	14.63%	13.25%
LSR	40.19%	5.73%	4.47%	—	—	—	—
Short-Term Debt Issuance
Avg YoY	100.00%	35.02%	50.47%	36.16%	25.03%	25.03%	25.03%
Slope	288.05%	118.78%	-375.00%	-144.72%	-581.83%	-367.23%	-251.56%
CAGR	—	—	—	—	-1.44%	—	—
LSR	—	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	35.16%	-754.86%	-327.88%	-225.68%	-321.94%	-277.69%	-223.44%
Slope	62.42%	11.10%	2.01%	-4.81%	-6.30%	-8.22%	-9.13%
CAGR	-79.81%	-12.25%	-28.56%	-11.91%	-7.91%	—	—
LSR	-79.81%	-14.89%	-14.73%	-0.75%	—	—	—
Common Stock Issuance
Avg YoY	24.28%	8.69%	10.45%	29.26%	18.50%	16.78%	20.26%
Slope	21.51%	6.09%	8.28%	4.18%	4.98%	4.17%	4.92%
CAGR	24.28%	7.09%	9.37%	14.10%	3.88%	4.17%	9.10%
LSR	24.28%	5.76%	8.74%	6.38%	6.66%	4.48%	5.88%
Common Stock Repurchased
Avg YoY	35.15%	-420.99%	-180.08%	-128.48%	-171.63%	-152.18%	-152.18%
Slope	58.32%	10.42%	1.70%	-4.74%	-6.16%	-7.94%	-8.85%
CAGR	-68.37%	-2.85%	-21.00%	-6.08%	-3.99%	—	—
LSR	-68.37%	-7.68%	-10.08%	1.57%	9.77%	—	—
Preferred Stock Issuance
Avg YoY	100.00%	100.00%	69.52%	61.11%	61.11%	61.11%	61.11%
Slope	0.00%	-0.30%	-5.27%	-6.94%	-11.41%	-12.11%	-11.74%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	-8.79%	-10.75%	-16.29%	-17.77%	-18.81%	-19.18%	-21.23%
Slope	-8.37%	-10.36%	-13.82%	-14.82%	-13.69%	-13.03%	-12.24%
CAGR	8.78%	10.72%	16.01%	17.45%	17.81%	18.35%	20.36%
LSR	8.78%	11.08%	16.43%	19.12%	17.39%	18.88%	20.53%
Common Dividends Paid
Avg YoY	-8.79%	-10.75%	-16.29%	-17.77%	-8.43%	-11.08%	-14.65%
Slope	-8.37%	-10.36%	-13.82%	-14.82%	-14.09%	-13.28%	-12.41%
CAGR	8.78%	10.72%	16.01%	17.45%	17.81%	18.35%	20.36%
LSR	8.78%	11.08%	16.43%	19.12%	—	—	—
Other Financing Activities
Avg YoY	-45.50%	-16.26%	326.40%	244.85%	146.87%	131.94%	97.01%
Slope	-56.14%	-59.61%	-36.25%	-9.65%	-1.16%	-9.67%	-12.34%
CAGR	28.56%	20.69%	—	2.68%	8.59%	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	25.88%	-115.17%	-53.78%	-39.12%	-323.42%	-309.57%	-224.43%
Slope	56.04%	7.13%	-4.13%	-8.22%	-9.00%	-9.93%	-10.39%
CAGR	-74.47%	-29.11%	-18.71%	-9.17%	-0.80%	—	—
LSR	-74.47%	-25.26%	-5.07%	4.67%	11.92%	—	—
Effect of FX on Cash
Avg YoY	-3,125.84%	-1,625.93%	-454.89%	-551.68%	-680.96%	-537.55%	-479.49%
Slope	-72.39%	-113.17%	-99.28%	-16.43%	-15.23%	-17.10%	-15.06%
CAGR	68.03%	—	8.96%	—	—	21.64%	—
LSR	—	—	—	—	—	—	—
Net Change in Cash
Avg YoY	-81.77%	-63.50%	150.00%	125.37%	140.21%	9,743.02%	8,048.72%
Slope	-531.65%	-706.90%	-456.26%	-498.54%	-151.45%	-42.93%	-25.95%
CAGR	—	—	—	10.42%	—	—	—
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	28.99%	66.44%	37.69%	40.49%	41.65%	86.23%	228.92%
Slope	25.51%	-3.00%	9.14%	10.43%	11.85%	10.27%	10.33%
CAGR	28.70%	17.62%	12.21%	11.20%	15.74%	17.99%	35.56%
LSR	28.70%	3.05%	9.80%	12.64%	16.50%	14.45%	21.02%
Cash at End of Period
Avg YoY	-7.98%	-16.07%	28.37%	41.60%	35.99%	86.15%	81.05%
Slope	-18.84%	-27.67%	3.68%	8.08%	10.16%	8.60%	9.13%
CAGR	-21.19%	-30.89%	-0.37%	12.31%	8.27%	14.06%	15.63%
LSR	-21.19%	-21.56%	3.51%	10.33%	14.49%	11.58%	16.04%
Operating Cash Flow
Avg YoY	21.30%	5.82%	13.51%	16.67%	11.94%	15.35%	18.36%
Slope	15.43%	5.89%	10.73%	11.96%	10.86%	9.87%	9.75%
CAGR	18.29%	3.37%	11.81%	15.16%	10.33%	12.47%	15.18%
LSR	18.29%	5.80%	12.10%	14.55%	12.23%	11.05%	13.28%
Capital Expenditure
Avg YoY	-7.41%	-11.61%	-13.53%	-13.04%	-6.01%	-6.02%	-8.86%
Slope	-7.16%	-11.20%	-11.07%	-11.36%	-6.14%	-3.68%	-4.02%
CAGR	7.39%	11.33%	12.97%	12.66%	3.55%	3.57%	6.32%
LSR	7.39%	12.09%	12.66%	13.06%	6.10%	3.11%	3.87%
Free Cash Flow
Avg YoY	25.74%	5.84%	14.27%	18.20%	18.68%	33.94%	5.08%
Slope	17.20%	4.85%	10.66%	12.08%	12.01%	11.65%	11.57%
CAGR	21.07%	1.99%	11.58%	15.82%	14.40%	—	—
LSR	21.07%	4.71%	11.96%	14.88%	15.35%	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	-0.33%	8.15%	10.45%	12.68%	9.13%	13.55%	15.32%
Slope	-0.41%	5.77%	9.85%	11.19%	10.20%	9.79%	9.57%
CAGR	-0.40%	7.61%	10.15%	12.43%	7.49%	11.62%	13.54%
LSR	-0.40%	6.37%	10.92%	13.32%	11.44%	11.49%	12.65%
(-) Tax Adjustment
Avg YoY	-0.76%	7.62%	6.55%	10.17%	7.29%	12.10%	14.12%
Slope	-0.82%	5.18%	5.58%	7.88%	7.71%	7.95%	8.21%
CAGR	-0.81%	7.04%	5.48%	9.34%	5.31%	9.83%	12.03%
LSR	-0.81%	5.73%	5.72%	9.10%	8.60%	9.46%	11.12%
Change In Working Capital
Avg YoY	34.27%	-58.27%	94.87%	77.85%	119.74%	137.15%	104.62%
Slope	314.72%	14.42%	-27.76%	-37.98%	-1,728.85%	-114.12%	-164.56%
CAGR	—	-29.34%	9.35%	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-7.41%	-11.61%	-13.53%	-13.04%	-6.01%	-6.02%	-8.86%
Slope	-7.16%	-11.20%	-11.07%	-11.36%	-6.14%	-3.68%	-4.02%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	-12.34%	20.89%	16.78%	16.07%	43.21%	-66.90%	64.25%
Slope	-18.72%	4.32%	11.86%	13.13%	13.03%	12.97%	12.22%
CAGR	-15.86%	12.32%	12.10%	12.56%	9.56%	—	—
LSR	-15.86%	6.59%	13.73%	16.03%	—	—	—
Net Interest After Taxes
Avg YoY	-18.56%	-15.89%	-17.77%	-17.46%	-110.36%	-119.95%	-101.08%
Slope	-17.05%	-15.39%	-14.61%	-14.07%	-12.74%	-12.94%	-12.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	523.39%	262.68%	126.20%	1,251.63%	928.81%	940.06%	816.49%
Slope	64.14%	22.31%	9.99%	12.36%	10.72%	11.31%	10.72%
CAGR	62.98%	23.61%	12.26%	—	12.98%	14.81%	13.40%
LSR	62.98%	5.32%	3.25%	—	—	—	—
Levered Free Cash Flow
Avg YoY	9.41%	23.41%	16.05%	20.18%	15.04%	29.51%	32.86%
Slope	-2.50%	7.87%	11.67%	13.04%	12.60%	12.66%	11.94%
CAGR	-2.16%	15.54%	12.40%	15.95%	10.83%	20.85%	18.50%
LSR	-2.16%	8.79%	12.65%	16.30%	—	—	—