National Fuel Gas Company (NFG)

Analysis: Growth Rates Industry: Oil & Gas Integrated Sector: Energy Live Price: $81.21

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	34.58%	17.67%	8.22%	6.72%	6.80%	7.60%	7.22%
Slope	29.62%	12.35%	4.31%	1.27%	1.98%	3.46%	3.81%
CAGR	33.40%	15.16%	6.13%	4.68%	5.03%	6.01%	5.73%
LSR	33.40%	11.78%	3.69%	1.00%	1.89%	4.01%	4.34%
Market Capitalization
Avg YoY	34.42%	17.58%	8.08%	6.70%	6.83%	7.57%	7.16%
Slope	29.51%	12.32%	4.27%	1.30%	2.06%	3.51%	3.84%
CAGR	33.25%	15.10%	6.04%	4.73%	5.12%	6.03%	5.71%
LSR	33.25%	11.76%	3.65%	1.02%	1.99%	4.07%	4.36%
(-) Cash & Equivalents
Avg YoY	-8.40%	12.19%	29.65%	30.43%	51.30%	45.65%	41.32%
Slope	-12.87%	3.70%	-27.59%	-5.61%	-6.26%	-0.80%	1.93%
CAGR	-11.26%	8.31%	-12.24%	-4.94%	-2.78%	0.18%	2.15%
LSR	-11.26%	4.60%	-18.91%	-7.35%	-7.91%	-1.82%	1.85%
(+) Total Debt
Avg YoY	3.57%	0.58%	3.00%	7.17%	5.49%	2.55%	5.02%
Slope	3.50%	0.73%	2.32%	4.30%	5.02%	3.48%	3.12%
CAGR	3.57%	0.53%	2.63%	6.41%	4.69%	1.72%	3.90%
LSR	3.57%	0.72%	2.40%	4.87%	5.59%	3.54%	3.18%
Enterprise Value
Avg YoY	24.19%	11.65%	6.06%	6.08%	5.80%	5.10%	5.81%
Slope	21.70%	8.62%	4.12%	2.33%	3.13%	3.59%	3.65%
CAGR	23.63%	10.40%	5.25%	5.21%	5.08%	4.49%	5.17%
LSR	23.63%	8.25%	3.80%	2.23%	3.23%	3.81%	3.91%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	3.29%	7.86%	5.71%	2.61%	0.93%	1.55%	3.43%
Slope	2.43%	4.01%	4.85%	1.50%	-0.30%	-0.06%	0.91%
CAGR	2.36%	6.92%	5.13%	1.78%	0.09%	0.42%	2.21%
LSR	2.36%	4.27%	4.93%	1.43%	-0.30%	-0.07%	1.03%
Cost of Revenue
Avg YoY	-23.28%	-3.17%	0.55%	-1.79%	0.74%	3.41%	6.62%
Slope	-25.80%	-5.28%	1.91%	-1.11%	-0.32%	0.56%	1.95%
CAGR	-23.73%	-5.88%	-0.93%	-3.42%	-2.58%	-1.31%	1.67%
LSR	-23.73%	-5.96%	1.69%	-1.17%	-0.30%	0.69%	2.43%
Gross Profit
Avg YoY	40.32%	23.35%	13.42%	9.88%	5.26%	4.06%	4.51%
Slope	31.14%	14.56%	8.69%	5.47%	-0.27%	-0.83%	-0.28%
CAGR	33.29%	18.66%	10.49%	7.85%	2.33%	1.71%	2.53%
LSR	33.29%	13.54%	7.93%	4.86%	-0.35%	-1.01%	-0.48%
Gross Margin
Avg YoY	32.55%	13.57%	6.67%	7.13%	4.57%	3.49%	2.24%
Slope	27.65%	9.87%	3.38%	3.56%	-0.07%	-0.95%	-1.50%
CAGR	30.22%	10.98%	5.11%	5.96%	2.24%	1.29%	0.31%
LSR	30.22%	8.88%	2.86%	3.39%	-0.05%	-0.94%	-1.49%
Operating Expenses
Avg YoY	284.90%	137.11%	98.74%	151.81%	107.87%	84.45%	71.93%
Slope	64.60%	51.99%	0.44%	3.39%	-3.45%	-3.58%	-2.51%
CAGR	173.37%	55.07%	-4.31%	16.48%	0.62%	-0.62%	1.08%
LSR	173.37%	72.25%	5.71%	6.89%	-4.37%	-5.74%	-4.91%
Operating Income (EBIT)
Avg YoY	107.82%	58.91%	214.24%	122.59%	94.25%	77.87%	66.92%
Slope	4.92%	-3.99%	15.01%	7.26%	3.19%	2.64%	2.83%
CAGR	3.79%	6.18%	—	4.47%	4.45%	6.05%	4.55%
LSR	3.79%	-8.40%	—	—	—	—	—
Operating Margin
Avg YoY	81.12%	39.24%	179.27%	98.32%	78.03%	65.33%	55.16%
Slope	1.80%	-9.18%	12.14%	5.63%	3.01%	2.25%	1.57%
CAGR	1.40%	-0.69%	—	2.64%	4.36%	5.61%	2.29%
LSR	1.40%	-12.15%	—	—	—	—	—
Interest Income
Avg YoY	—	—	-100.00%	-9.63%	-17.95%	-17.95%	-17.95%
Slope	—	—	-54.55%	-23.29%	-12.57%	-3.23%	1.10%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Interest Expense
Avg YoY	8.76%	1.94%	3.36%	5.51%	5.05%	5.05%	5.05%
Slope	8.42%	1.94%	2.99%	4.05%	6.07%	8.69%	9.37%
CAGR	8.70%	1.58%	2.85%	5.06%	—	—	—
LSR	8.70%	1.89%	2.97%	4.25%	—	—	—
Net Interest Income
Avg YoY	8.76%	1.94%	3.76%	5.79%	6.12%	6.12%	6.12%
Slope	-8.42%	-1.94%	-3.18%	-4.42%	-6.48%	-8.95%	-9.55%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	5.86%	-2.37%	3.06%	9.64%	11.48%	9.08%	9.97%
Slope	-5.68%	2.46%	-1.26%	-4.77%	-5.69%	-5.75%	-5.67%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	5.86%	-2.37%	3.06%	9.64%	11.48%	9.08%	9.97%
Slope	5.68%	-2.46%	1.26%	4.77%	5.69%	5.75%	5.67%
CAGR	5.86%	-2.77%	2.33%	8.01%	8.09%	4.48%	5.87%
LSR	5.86%	-2.26%	1.32%	5.71%	7.14%	6.79%	6.49%
EBT excl. Unusual
Avg YoY	-242.38%	-85.97%	-104.55%	-94.53%	-267.57%	-152.31%	-58.46%
Slope	5.40%	-3.96%	108.49%	21.54%	-4.05%	-3.21%	-1.70%
CAGR	2.87%	25.21%	—	1.73%	3.20%	18.92%	4.46%
LSR	—	—	—	—	—	—	—
Pre-Tax Income
Avg YoY	304.52%	161.43%	-25.96%	-34.58%	-18.48%	-8.58%	-2.93%
Slope	5.55%	-3.17%	21.41%	8.09%	2.59%	2.46%	2.80%
CAGR	4.02%	9.75%	—	3.60%	4.65%	8.29%	4.95%
LSR	4.02%	-12.30%	—	—	—	—	—
Pre-Tax Margin
Avg YoY	247.21%	125.67%	-36.42%	-43.63%	-23.31%	-11.58%	-6.65%
Slope	2.25%	-8.40%	20.23%	6.49%	2.30%	1.92%	1.42%
CAGR	1.63%	2.65%	—	1.79%	4.55%	7.84%	2.68%
LSR	1.63%	-15.90%	—	—	—	—	—
Income Tax Expense
Avg YoY	803.95%	412.67%	63.75%	21.03%	24.33%	25.82%	23.97%
Slope	4.72%	1.28%	36.69%	3.49%	-2.81%	-1.58%	-0.25%
CAGR	3.29%	11.23%	—	0.47%	2.58%	6.69%	3.41%
LSR	3.29%	-15.05%	—	—	—	—	—
Net Income
Avg YoY	242.59%	131.27%	-21.22%	-30.18%	-11.70%	-4.62%	6.09%
Slope	5.82%	-4.46%	17.81%	9.47%	3.97%	3.65%	3.90%
CAGR	4.27%	9.27%	—	5.10%	7.21%	9.00%	5.67%
LSR	4.27%	-12.00%	—	—	—	—	—
Net Margin
Avg YoY	194.68%	99.54%	-31.84%	-39.12%	-15.44%	-6.41%	3.28%
Slope	2.55%	-9.49%	15.49%	7.81%	3.63%	3.14%	2.65%
CAGR	1.87%	2.20%	—	3.26%	7.12%	8.55%	3.39%
LSR	1.87%	-15.61%	—	—	—	—	—
Depreciation & Amortization
Avg YoY	5.75%	8.13%	18.09%	13.02%	10.98%	10.08%	10.08%
Slope	5.33%	8.13%	6.74%	4.17%	5.29%	7.48%	8.53%
CAGR	5.58%	8.02%	6.95%	5.13%	5.03%	—	—
LSR	5.58%	8.65%	8.30%	4.17%	5.55%	—	—
EBITDA
Avg YoY	23.86%	16.88%	-55.73%	-45.11%	-30.87%	-19.32%	-13.50%
Slope	5.09%	0.69%	11.23%	5.79%	4.12%	4.62%	5.00%
CAGR	4.42%	6.83%	—	4.70%	4.65%	8.04%	6.17%
LSR	4.42%	-0.46%	—	—	—	—	—
EBITDA Margin
Avg YoY	13.32%	5.59%	-57.63%	-47.11%	-30.88%	-18.86%	-14.51%
Slope	2.28%	-4.00%	7.46%	4.27%	4.03%	4.43%	4.21%
CAGR	2.02%	-0.09%	—	2.87%	4.56%	7.59%	3.87%
LSR	2.02%	-4.54%	—	—	—	—	—
NOPAT
Avg YoY	107.82%	58.91%	214.24%	122.59%	94.25%	77.87%	66.92%
Slope	4.92%	-3.99%	15.01%	7.26%	3.19%	2.64%	2.83%
CAGR	3.79%	6.18%	—	4.47%	4.45%	6.05%	4.55%
LSR	3.79%	-8.40%	—	—	—	—	—
NOPAT Margin
Avg YoY	81.12%	39.24%	179.27%	98.32%	78.03%	65.33%	55.16%
Slope	1.80%	-9.18%	12.14%	5.63%	3.01%	2.25%	1.57%
CAGR	1.40%	-0.69%	—	2.64%	4.36%	5.61%	2.29%
LSR	1.40%	-12.15%	—	—	—	—	—
Owner's Earnings
Avg YoY	52.85%	-107.19%	-110.33%	-42.93%	34.02%	-111.15%	-81.02%
Slope	60.84%	-37.57%	13.05%	10.70%	-3.17%	-5.36%	-3.03%
CAGR	—	—	—	—	5.25%	—	—
LSR	—	—	—	—	—	—	—
Owner's Earnings Margin
Avg YoY	72.91%	-85.38%	-94.91%	-26.61%	51.08%	-99.66%	-73.67%
Slope	54.06%	-35.13%	16.25%	10.60%	-2.84%	-5.27%	-1.99%
CAGR	—	—	—	—	5.16%	—	—
LSR	—	—	—	—	—	—	—
EPS (Basic)
Avg YoY	247.35%	133.46%	-19.09%	-28.92%	-10.86%	-4.27%	6.12%
Slope	6.78%	-4.26%	17.35%	8.51%	3.11%	2.97%	3.25%
CAGR	4.99%	9.46%	—	4.41%	6.79%	8.38%	5.00%
LSR	4.99%	-11.92%	—	—	—	—	—
EPS (Diluted)
Avg YoY	246.68%	133.10%	-18.99%	-28.96%	-10.92%	-4.34%	6.03%
Slope	6.63%	-4.29%	17.41%	8.60%	3.23%	3.02%	3.28%
CAGR	4.88%	9.41%	—	4.45%	6.88%	8.40%	4.99%
LSR	4.88%	-11.94%	—	—	—	—	—
Shares (Basic)
Avg YoY	-0.68%	-0.17%	0.73%	0.67%	0.40%	0.58%	0.64%
Slope	-0.68%	-0.10%	0.99%	0.85%	0.67%	0.57%	0.61%
CAGR	-0.68%	-0.17%	0.72%	0.66%	0.39%	0.57%	0.63%
LSR	-0.68%	-0.10%	0.99%	0.85%	0.66%	0.57%	0.61%
Shares (Diluted)
Avg YoY	-0.57%	-0.12%	0.82%	0.63%	0.32%	0.57%	0.66%
Slope	-0.58%	-0.07%	1.02%	0.82%	0.57%	0.52%	0.58%
CAGR	-0.58%	-0.12%	0.81%	0.62%	0.31%	0.56%	0.65%
LSR	-0.58%	-0.07%	1.03%	0.82%	0.57%	0.52%	0.58%

Product Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Utility
Avg YoY	-3.68%	7.84%	5.43%	1.93%	1.93%
Slope	-7.01%	1.34%	3.16%	0.40%	0.40%
CAGR	-6.31%	5.34%	4.07%	0.49%	0.49%
LSR	-6.31%	1.62%	3.24%	0.38%	0.38%
Pipeline And Storage
Avg YoY	6.82%	5.82%	7.56%	6.92%	6.92%
Slope	6.54%	5.34%	7.67%	6.80%	6.80%
CAGR	6.81%	5.76%	7.04%	6.54%	6.54%
LSR	6.81%	5.49%	8.30%	7.06%	7.06%
Gathering
Avg YoY	6.48%	13.35%	34,283.62%	28,043.40%	28,043.40%
Slope	6.27%	10.84%	28.35%	27.89%	27.89%
CAGR	6.48%	12.96%	97.11%	59.37%	59.37%
LSR	6.48%	12.12%	166.87%	108.56%	108.56%
Exploration And Production
Avg YoY	-2.43%	12.45%	3.83%	4.99%	4.99%
Slope	-2.58%	8.36%	5.52%	3.14%	3.14%
CAGR	-2.60%	10.80%	2.66%	3.78%	3.78%
LSR	-2.60%	9.88%	5.43%	2.99%	2.99%
Corporate And Intersegment Eliminations
Avg YoY	8.34%	30.63%	-3,894.60%	-2,921.32%	-2,921.32%
Slope	8.03%	16.13%	28.58%	27.67%	27.67%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
All Other
Avg YoY	1,626.02%	816.96%	459.24%	459.24%	459.24%
Slope	141.37%	90.73%	55.38%	55.38%	55.38%
CAGR	726.43%	180.50%	65.18%	65.18%	65.18%
LSR	726.43%	132.48%	33.46%	33.46%	33.46%
Total Reportable Segments
Avg YoY	5.80%	0.24%	1.62%	1.62%	1.62%
Slope	5.59%	0.30%	-1.89%	-1.89%	-1.89%
CAGR	5.65%	-0.44%	0.79%	0.79%	0.79%
LSR	5.65%	0.38%	-1.82%	-1.82%	-1.82%
Energy Marketing
Avg YoY	21.07%	-6.07%	-2.29%	-2.29%	-2.29%
Slope	17.56%	-13.02%	-11.11%	-11.11%	-11.11%
CAGR	20.20%	-10.77%	-6.48%	-6.48%	-6.48%
LSR	20.20%	-10.85%	-10.23%	-10.23%	-10.23%

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
All Other
Avg YoY	-99.17%	-99.17%	-99.17%	-99.17%	-99.17%
Slope	-148.26%	-148.26%	-148.26%	-148.26%	-148.26%
CAGR	-99.25%	-99.25%	-99.25%	-99.25%	-99.25%
LSR	-99.25%	-99.25%	-99.25%	-99.25%	-99.25%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	-8.40%	12.19%	29.65%	30.43%	51.30%	45.65%	41.32%
Slope	-12.87%	3.70%	-27.59%	-5.61%	-6.26%	-0.80%	1.93%
CAGR	-11.26%	8.31%	-12.24%	-4.94%	-2.78%	0.18%	2.15%
LSR	-11.26%	4.60%	-18.91%	-7.35%	-7.91%	-1.82%	1.85%
Short-Term Investments
Avg YoY	—	—	—	—	—	—	-100.00%
Slope	—	—	—	—	—	—	15.35%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	-8.40%	12.19%	29.65%	30.43%	51.30%	45.65%	41.32%
Slope	-12.87%	3.70%	-27.59%	-5.61%	-6.26%	-0.80%	1.93%
CAGR	-11.26%	8.31%	-12.24%	-4.94%	-2.78%	0.18%	2.15%
LSR	-11.26%	4.60%	-18.91%	-7.35%	-7.91%	-1.82%	1.85%
Net Receivables
Avg YoY	-3.96%	4.44%	6.77%	5.36%	3.30%	4.51%	4.83%
Slope	-5.71%	-12.63%	2.79%	3.07%	0.38%	1.03%	1.46%
CAGR	-5.28%	-4.55%	1.02%	0.66%	-1.05%	0.39%	1.14%
LSR	-5.28%	-11.42%	2.59%	2.80%	0.16%	0.88%	1.40%
Inventory
Avg YoY	5.65%	0.26%	5.78%	3.05%	1.99%	0.57%	3.24%
Slope	5.49%	-13.73%	2.74%	1.75%	-0.03%	-1.17%	0.13%
CAGR	5.57%	-6.95%	1.88%	0.01%	-0.67%	-1.64%	0.97%
LSR	5.57%	-12.30%	2.52%	1.44%	-0.21%	-1.24%	0.18%
Other Current Assets
Avg YoY	59.39%	11.60%	69.95%	43.16%	32.60%	42.94%	38.38%
Slope	43.49%	-19.17%	13.76%	-1.71%	-5.26%	-3.38%	-0.57%
CAGR	49.87%	-8.90%	15.17%	-2.12%	-2.35%	2.03%	3.05%
LSR	49.87%	-16.73%	17.25%	-1.74%	-5.80%	-3.94%	-0.78%
Total Current Assets
Avg YoY	4.24%	1.79%	10.24%	6.39%	5.85%	6.46%	6.96%
Slope	2.62%	-12.47%	-3.82%	0.14%	-2.34%	-0.56%	0.98%
CAGR	2.50%	-5.07%	-0.20%	-0.90%	-1.46%	0.07%	1.50%
LSR	2.50%	-11.38%	-3.33%	-0.07%	-2.30%	-0.64%	1.15%
Property, Plant & Equipment
Avg YoY	3.43%	5.05%	5.49%	4.50%	5.29%	4.04%	4.94%
Slope	3.36%	4.95%	5.31%	3.07%	4.23%	3.98%	3.98%
CAGR	3.38%	4.97%	5.44%	4.16%	5.00%	3.77%	4.65%
LSR	3.38%	5.09%	5.54%	3.09%	4.60%	4.15%	4.20%
Goodwill
Avg YoY	0.58%	0.13%	-0.79%	-0.61%	-0.29%	-0.45%	-0.45%
Slope	0.58%	0.07%	-1.03%	-0.82%	-0.56%	2.50%	5.07%
CAGR	0.58%	0.13%	-0.80%	-0.62%	-0.31%	—	—
LSR	0.58%	0.07%	-1.02%	-0.82%	-0.56%	—	—
Intangible Assets
Avg YoY	—	—	—	—	-44.44%	-32.34%	-32.34%
Slope	—	—	—	—	-24.32%	-18.76%	-9.68%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Investments
Avg YoY	21.92%	-3.81%	3.76%	4.80%	3.19%	3.19%	3.19%
Slope	19.84%	-9.48%	-5.02%	0.99%	0.64%	5.21%	6.96%
CAGR	21.38%	-7.77%	-1.10%	1.46%	-0.48%	—	—
LSR	21.38%	-7.69%	-5.64%	0.55%	0.26%	—	—
Tax Assets
Avg YoY	—	—	-53.62%	-73.28%	580.96%	580.96%	580.96%
Slope	—	—	-12.35%	-9.57%	-4.90%	1.68%	4.50%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Non-Current Assets
Avg YoY	0.64%	5.16%	4.84%	3.91%	12.93%	7.93%	7.63%
Slope	0.16%	4.88%	-0.72%	-3.60%	-0.31%	1.53%	2.19%
CAGR	0.16%	4.74%	-4.08%	-2.90%	5.50%	1.41%	2.09%
LSR	0.16%	5.19%	0.47%	-3.39%	0.29%	1.92%	2.40%
Other Assets
Avg YoY	—	—	—	-100.00%	-100.00%	-100.00%	-100.00%
Slope	—	—	—	37.50%	13.53%	3.85%	-0.67%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Non-Current Assets
Avg YoY	3.39%	4.78%	4.57%	3.53%	4.95%	3.69%	4.75%
Slope	3.34%	4.75%	4.57%	2.40%	3.65%	3.65%	3.81%
CAGR	3.37%	4.72%	4.45%	3.25%	4.69%	3.43%	4.49%
LSR	3.37%	4.88%	4.73%	2.38%	3.99%	3.87%	4.11%
Total Assets
Avg YoY	3.37%	4.16%	4.24%	3.18%	4.38%	3.41%	4.50%
Slope	3.30%	3.73%	4.02%	2.25%	3.17%	3.30%	3.57%
CAGR	3.33%	4.14%	4.17%	2.98%	4.16%	3.19%	4.27%
LSR	3.33%	3.81%	4.13%	2.24%	3.41%	3.49%	3.89%
Accounts Payable
Avg YoY	10.63%	2.48%	6.15%	4.09%	4.70%	4.23%	5.85%
Slope	10.13%	0.73%	3.34%	2.16%	0.82%	0.88%	1.81%
CAGR	10.60%	1.88%	5.24%	1.23%	1.41%	1.29%	3.01%
LSR	10.60%	0.66%	3.57%	2.42%	0.96%	0.92%	2.05%
Short-Term Debt
Avg YoY	41.24%	78.01%	57.57%	32.44%	67.76%	47.13%	45.03%
Slope	18.89%	13.60%	21.92%	10.23%	8.10%	0.19%	-2.33%
CAGR	25.86%	29.98%	—	5.70%	16.60%	-1.73%	2.18%
LSR	25.86%	22.93%	—	—	—	—	—
Tax Payables
Avg YoY	—	-100.00%	-69.78%	-58.06%	-58.06%	-58.06%	-58.06%
Slope	—	-100.00%	-36.27%	-16.31%	-1.64%	3.76%	5.95%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Deferred Revenue
Avg YoY	-28.50%	-5.27%	21.53%	3.02%	3.02%	3.02%	3.02%
Slope	-39.57%	-8.00%	25.92%	8.31%	12.18%	12.60%	12.08%
CAGR	-40.89%	-17.07%	—	-5.91%	—	—	—
LSR	-40.89%	-13.07%	—	—	—	—	—
Other Current Liabilities
Avg YoY	55.85%	13.41%	34.69%	45.22%	35.82%	35.82%	35.82%
Slope	35.37%	-40.25%	4.92%	8.30%	10.88%	11.76%	11.50%
CAGR	36.63%	-22.60%	5.26%	17.85%	—	—	—
LSR	36.63%	-33.95%	2.43%	10.26%	—	—	—
Total Current Liabilities
Avg YoY	23.25%	10.22%	31.79%	22.19%	23.75%	13.43%	15.98%
Slope	17.86%	-11.89%	10.80%	7.50%	7.31%	4.22%	2.51%
CAGR	21.14%	-4.84%	13.81%	5.63%	9.49%	0.51%	3.74%
LSR	21.14%	-10.13%	13.18%	7.16%	7.35%	3.91%	2.11%
Long-Term Debt
Avg YoY	0.97%	-1.23%	1.40%	7.79%	5.61%	4.34%	5.62%
Slope	0.56%	-1.59%	0.21%	3.67%	4.70%	3.91%	4.04%
CAGR	0.54%	-2.30%	0.67%	6.55%	3.85%	2.92%	4.35%
LSR	0.54%	-1.39%	0.20%	4.52%	5.42%	4.07%	4.31%
Capital Lease Obligations
Avg YoY	—	—	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%
Slope	—	—	-6.06%	10.71%	13.53%	13.46%	12.68%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	5.20%	19.08%	8.61%	5.30%	53.94%	41.58%	34.66%
Slope	4.98%	16.12%	4.57%	-2.27%	1.75%	3.63%	4.05%
CAGR	5.00%	16.85%	3.67%	1.17%	3.98%	4.78%	4.37%
LSR	5.00%	18.63%	4.45%	-2.17%	3.40%	—	—
Other Non-Current Liabilities
Avg YoY	4.96%	-1.06%	2.08%	3.08%	11.67%	0.45%	1.91%
Slope	4.78%	-1.23%	1.26%	1.88%	2.46%	13.49%	32.01%
CAGR	4.94%	-1.27%	1.39%	1.81%	5.77%	—	—
LSR	4.94%	-1.19%	1.40%	2.01%	3.44%	—	—
Total Non-Current Liabilities
Avg YoY	2.82%	2.16%	2.05%	4.12%	4.97%	4.39%	4.39%
Slope	2.67%	2.40%	1.37%	1.76%	3.40%	5.68%	7.28%
CAGR	2.65%	1.54%	1.55%	3.58%	4.27%	—	—
LSR	2.65%	2.44%	1.37%	1.89%	3.92%	—	—
Total Liabilities
Avg YoY	5.14%	0.54%	3.10%	4.31%	5.33%	17.41%	19.28%
Slope	5.03%	-0.45%	2.80%	2.56%	3.93%	5.46%	6.44%
CAGR	5.12%	0.34%	2.82%	3.88%	4.85%	8.36%	10.40%
LSR	5.12%	-0.45%	2.90%	2.68%	4.45%	7.90%	10.00%
Common Stock
Avg YoY	-0.21%	-0.09%	-0.12%	0.02%	0.14%	0.01%	3.42%
Slope	-0.21%	-0.15%	-0.13%	0.00%	0.13%	0.04%	1.26%
CAGR	-0.21%	-0.10%	-0.14%	0.01%	0.11%	-0.01%	2.38%
LSR	-0.21%	-0.15%	-0.13%	0.00%	0.14%	0.04%	1.63%
Retained Earnings
Avg YoY	4.74%	15.17%	13.42%	5.68%	6.80%	6.95%	6.30%
Slope	3.98%	10.73%	9.69%	2.19%	2.59%	3.37%	3.79%
CAGR	3.90%	14.15%	11.97%	3.09%	4.75%	5.27%	4.84%
LSR	3.90%	12.09%	10.59%	2.03%	2.46%	3.55%	4.11%
Accumulated OCI
Avg YoY	107.72%	36.38%	124.36%	-107.27%	-176.92%	-125.75%	-107.60%
Slope	-5.58%	59.86%	-9.28%	-13.86%	-14.13%	-7.23%	-8.02%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	-12.04%	-8.93%
Slope	—	—	—	—	—	-19.83%	-12.39%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	4.23%	31.76%	14.86%	7.14%	7.24%	7.53%	6.84%
Slope	3.75%	21.88%	9.04%	1.12%	1.66%	2.84%	3.31%
CAGR	3.70%	27.85%	10.79%	2.99%	4.09%	4.87%	4.59%
LSR	3.70%	28.41%	8.79%	0.66%	1.30%	2.89%	3.49%
Total Equity
Avg YoY	4.23%	31.76%	14.86%	7.14%	7.24%	7.39%	6.84%
Slope	3.75%	21.88%	9.04%	1.12%	1.66%	2.73%	3.20%
CAGR	3.70%	27.85%	10.79%	2.99%	4.09%	4.70%	4.59%
LSR	3.70%	28.41%	8.79%	0.66%	1.30%	2.73%	3.34%
Total Liabilities & Equity
Avg YoY	4.83%	5.02%	4.50%	3.96%	4.94%	9.75%	10.22%
Slope	4.69%	4.40%	4.07%	2.24%	3.40%	4.80%	5.61%
CAGR	4.74%	4.98%	4.42%	3.63%	4.64%	7.04%	7.77%
LSR	4.74%	4.49%	4.16%	2.26%	3.73%	6.24%	7.58%
Tangible Assets
Avg YoY	3.37%	4.17%	4.25%	3.19%	4.43%	3.58%	4.48%
Slope	3.31%	3.74%	4.02%	2.25%	3.20%	3.41%	3.63%
CAGR	3.33%	4.14%	4.18%	2.98%	4.21%	3.38%	4.27%
LSR	3.33%	3.81%	4.14%	2.25%	3.45%	3.62%	3.94%
Tangible Equity
Avg YoY	4.24%	31.94%	14.96%	7.20%	7.50%	8.90%	7.19%
Slope	3.76%	21.95%	9.08%	1.12%	1.79%	3.26%	3.48%
CAGR	3.71%	27.99%	10.85%	3.00%	4.31%	6.04%	4.58%
LSR	3.71%	28.56%	8.83%	0.66%	1.45%	3.55%	3.69%
Tangible Book Value
Avg YoY	4.24%	31.94%	14.96%	7.20%	7.50%	8.90%	7.19%
Slope	3.76%	21.95%	9.08%	1.12%	1.79%	3.26%	3.48%
CAGR	3.71%	27.99%	10.85%	3.00%	4.31%	6.04%	4.58%
LSR	3.71%	28.56%	8.83%	0.66%	1.45%	3.55%	3.69%
Total Investments
Avg YoY	21.92%	-3.81%	3.76%	4.80%	3.19%	-1.97%	-6.64%
Slope	19.84%	-9.48%	-5.02%	0.99%	0.64%	10.22%	10.43%
CAGR	21.38%	-7.77%	-1.10%	1.46%	-0.48%	—	—
LSR	21.38%	-7.69%	-5.64%	0.55%	0.26%	—	—
Net Debt
Avg YoY	3.86%	0.50%	3.52%	7.65%	6.03%	2.82%	5.24%
Slope	3.77%	0.68%	3.82%	4.78%	5.88%	3.77%	3.20%
CAGR	3.86%	0.43%	3.19%	6.88%	4.96%	1.75%	3.94%
LSR	3.86%	0.67%	4.06%	5.34%	6.68%	3.84%	3.18%

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	29.58%	14.26%	47.70%	3.32%	6.24%	-12.84%	-2.64%
Slope	-11.72%	11.80%	-33.74%	-19.57%	-36.74%	-13.55%	-3.08%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Capital
Avg YoY	3.21%	7.04%	5.02%	4.71%	4.44%	3.11%	4.19%
Slope	3.14%	6.81%	4.22%	3.11%	3.61%	3.24%	3.17%
CAGR	3.15%	6.83%	4.81%	4.39%	4.19%	2.84%	3.88%
LSR	3.15%	7.15%	4.27%	3.15%	3.78%	3.29%	3.27%
Capital Employed
Avg YoY	2.90%	6.56%	3.95%	3.42%	4.52%	4.53%	4.84%
Slope	2.72%	6.44%	3.09%	1.71%	2.90%	3.46%	3.89%
CAGR	2.71%	5.89%	3.47%	2.95%	4.07%	4.13%	4.51%
LSR	2.71%	6.71%	3.08%	1.71%	3.16%	3.80%	4.38%
Invested Capital
Avg YoY	3.34%	7.02%	5.36%	4.88%	4.60%	3.17%	4.23%
Slope	3.27%	6.83%	5.05%	3.32%	3.96%	3.37%	3.21%
CAGR	3.29%	6.82%	5.15%	4.54%	4.30%	2.87%	3.89%
LSR	3.29%	7.18%	5.20%	3.35%	4.16%	3.39%	3.25%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	246.68%	133.10%	109.46%	57.00%	52.26%	45.67%	42.93%
Slope	6.63%	-4.29%	17.41%	8.60%	3.26%	3.04%	3.25%
CAGR	4.88%	9.41%	—	4.45%	6.88%	8.40%	4.99%
LSR	4.88%	-11.94%	—	—	—	—	—
Depreciation & Amortization
Avg YoY	6.32%	8.24%	17.28%	12.38%	10.65%	9.70%	9.70%
Slope	5.91%	8.23%	5.87%	3.37%	4.72%	7.11%	8.27%
CAGR	6.20%	8.16%	6.09%	4.49%	4.71%	—	—
LSR	6.20%	8.73%	7.19%	3.32%	4.96%	—	—
Deferred Income Tax
Avg YoY	2,350.85%	1,186.12%	619.81%	374.60%	612.10%	487.54%	380.23%
Slope	-15.87%	-7.79%	41.03%	2.74%	1.57%	2.43%	4.40%
CAGR	-9.98%	3.55%	—	-2.75%	—	—	11.86%
LSR	—	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	-46.52%	-18.43%	8.61%	89.38%	544.32%	544.32%	544.32%
Slope	-72.48%	-20.04%	0.69%	7.59%	23.82%	20.04%	17.25%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Change in Working Capital
Avg YoY	-306.71%	-162.46%	-99.15%	-71.67%	-23.30%	-33.82%	-79.67%
Slope	-866.07%	0.96%	-11.65%	-63.77%	-97.16%	-22.65%	-12.86%
CAGR	—	22.69%	6.57%	—	—	—	4.51%
LSR	—	—	—	—	—	—	—
Accounts Receivable
Avg YoY	-172.25%	-72.93%	-78.35%	-1.84%	-22.74%	-28.69%	-28.69%
Slope	-209.11%	284.17%	43.00%	-28.75%	-17.74%	-6.74%	-1.34%
CAGR	—	-2.81%	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Inventory
Avg YoY	-516.26%	-120.87%	-120.87%	-106.09%	-103.19%	-67.12%	-83.14%
Slope	-197.43%	-133.75%	-62.73%	-37.60%	-18.54%	-1.16%	9.25%
CAGR	—	37.42%	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Accounts Payable
Avg YoY	35.75%	26.36%	215.10%	336.68%	-112.48%	-112.48%	-112.48%
Slope	-54.11%	-33.95%	181.24%	-9.18%	6.33%	8.86%	9.49%
CAGR	-22.45%	-11.11%	—	-7.89%	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	-58.46%	-59.18%	-14.21%	40.97%	10.54%	-20.68%	-20.06%
Slope	-34.20%	-19.60%	-29.16%	-28.71%	-10.82%	-7.13%	-7.15%
CAGR	34.60%	36.64%	23.31%	—	—	—	3.98%
LSR	34.60%	22.00%	—	—	—	—	—
Other Non-Cash Items
Avg YoY	1,299.97%	1,286.91%	626.07%	1,280.14%	1,051.77%	861.79%	720.87%
Slope	34.11%	50.86%	-12.85%	-1.30%	5.14%	1.24%	0.67%
CAGR	211.85%	38.43%	-17.28%	—	2.54%	-3.23%	1.47%
LSR	211.85%	151.78%	2.24%	—	—	—	—
Net Cash from Operating Activities
Avg YoY	-4.71%	11.18%	7.66%	4.47%	6.44%	6.14%	9.30%
Slope	-5.46%	8.79%	6.87%	2.47%	3.52%	3.92%	4.32%
CAGR	-5.16%	8.71%	6.33%	2.87%	4.24%	3.58%	5.99%
LSR	-5.16%	9.82%	6.93%	2.29%	3.70%	4.19%	4.83%
Capital Expenditures (PPE)
Avg YoY	4.31%	-5.76%	-8.32%	-4.56%	-11.08%	-9.24%	-10.42%
Slope	4.53%	-5.08%	-5.17%	0.08%	-3.77%	-5.23%	-4.93%
CAGR	-4.38%	5.10%	4.29%	0.00%	5.81%	4.27%	5.25%
LSR	-4.38%	5.47%	6.11%	0.05%	4.97%	6.80%	5.75%
Acquisitions (Net)
Avg YoY	—	—	—	-100.00%	19.17%	19.17%	19.17%
Slope	—	—	—	-37.50%	-22.30%	-9.45%	-3.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	—	—	—	—	100.00%	100.00%	100.00%
Slope	—	—	—	—	19.55%	7.69%	2.00%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	-100.00%	-83.37%	-83.37%	-83.37%	-83.37%	-83.37%	-83.37%
Slope	-150.00%	-37.52%	21.21%	22.77%	20.30%	17.79%	15.68%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Investing Activities
Avg YoY	499.33%	244.25%	1,166.96%	849.50%	1,779.63%	1,457.30%	1,005.26%
Slope	214.08%	-79.92%	-14.42%	1.99%	8.75%	6.86%	25.95%
CAGR	—	-34.95%	-18.81%	-7.67%	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	9.72%	-19.03%	-15.98%	-10.05%	-21.15%	-20.96%	-22.27%
Slope	10.70%	-11.49%	-6.37%	0.06%	-4.14%	-5.45%	-4.59%
CAGR	-9.95%	9.07%	6.94%	0.92%	5.62%	2.96%	5.14%
LSR	-9.95%	13.66%	7.35%	-0.07%	6.03%	7.56%	5.41%
Net Debt Issuance
Avg YoY	233.60%	87.99%	117.35%	114.51%	29.44%	10.58%	144.31%
Slope	83.99%	27.43%	-5.32%	-7.96%	1.64%	16.73%	2.99%
CAGR	—	-19.95%	—	—	—	-0.52%	-1.87%
LSR	—	—	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	56.83%	71.22%	3.03%	6.15%	-66.19%	-64.91%	101.27%
Slope	1,109.13%	1,361.64%	-6.65%	-8.97%	0.98%	15.35%	1.96%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Short-Term Debt Issuance
Avg YoY	-27.92%	24.59%	90.43%	53.57%	53.57%	22.89%	22.89%
Slope	-275.74%	-97.10%	-0.55%	1.64%	8.44%	38.31%	29.93%
CAGR	-48.56%	-17.41%	—	2.24%	—	—	—
LSR	—	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	-450.72%	-257.28%	39.69%	161.80%	74.17%	36.05%	31.01%
Slope	-59.19%	-57.67%	-217.33%	-54.63%	24.15%	12.74%	-6.85%
CAGR	198.49%	100.13%	—	—	—	—	—
LSR	198.49%	111.85%	—	—	—	—	—
Common Stock Issuance
Avg YoY	—	—	-64.01%	-23.87%	-18.36%	-6.76%	-3.36%
Slope	—	—	-47.08%	-11.92%	-15.72%	-9.96%	-5.87%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	-450.72%	-257.28%	127.40%	273.58%	196.76%	188.69%	188.69%
Slope	-59.19%	-57.67%	-602.90%	-124.69%	19.02%	10.77%	4.14%
CAGR	198.49%	100.13%	—	—	—	—	—
LSR	198.49%	111.85%	—	—	—	—	—
Net Dividends Paid
Avg YoY	-4.04%	-3.81%	-2.96%	-2.98%	-3.17%	1.32%	0.47%
Slope	-3.96%	-3.86%	-2.91%	-2.77%	-2.89%	-3.68%	-3.44%
CAGR	4.04%	3.81%	2.96%	2.98%	3.17%	3.24%	3.28%
LSR	4.04%	3.93%	2.93%	2.80%	2.96%	—	—
Common Dividends Paid
Avg YoY	-4.04%	-3.81%	-2.96%	-2.98%	-3.17%	1.32%	0.47%
Slope	-3.96%	-3.86%	-2.91%	-2.77%	-2.89%	-3.68%	-3.44%
CAGR	4.04%	3.81%	2.96%	2.98%	3.17%	3.24%	3.28%
LSR	4.04%	3.93%	2.93%	2.80%	2.96%	—	—
Other Financing Activities
Avg YoY	—	—	-100.00%	108.03%	66.56%	18.39%	30.05%
Slope	—	—	-54.55%	-16.79%	95.44%	35.03%	20.92%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	-4.99%	-88.22%	6.85%	73.63%	34.59%	0.96%	55.22%
Slope	0.34%	-9.23%	-19.37%	-39.57%	-1.27%	4.68%	-3.67%
CAGR	-0.30%	36.58%	5.27%	-2.77%	0.85%	9.24%	—
LSR	-0.30%	20.63%	—	—	—	—	—
Effect of FX on Cash
Avg YoY	—	—	—	—	-5.13%	54.20%	171.10%
Slope	—	—	—	—	-28.92%	-17.16%	-7.91%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Change in Cash
Avg YoY	104.07%	-110.34%	390.29%	261.33%	111.34%	818.99%	695.03%
Slope	138.55%	-481.86%	-109.46%	21.85%	-183,731.23%	-118.62%	-55.61%
CAGR	—	-52.74%	—	—	—	0.22%	-1.63%
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	-44.99%	101.65%	63.52%	45.27%	61.76%	53.37%	49.01%
Slope	-64.10%	-3.89%	-16.20%	-6.39%	-2.33%	1.81%	3.82%
CAGR	-47.01%	16.94%	-12.11%	-15.92%	-2.44%	0.17%	3.20%
LSR	-47.01%	4.88%	-14.95%	-6.69%	-3.45%	1.62%	4.68%
Cash at End of Period
Avg YoY	-8.40%	-15.63%	61.02%	50.60%	62.40%	54.28%	48.46%
Slope	-12.87%	-32.09%	-22.55%	-3.15%	-4.32%	0.45%	2.79%
CAGR	-11.26%	-22.48%	-12.24%	-4.94%	-2.78%	0.18%	2.15%
LSR	-11.26%	-28.26%	-17.09%	-4.44%	-5.25%	0.17%	3.29%
Operating Cash Flow
Avg YoY	-4.71%	11.18%	7.66%	4.48%	6.43%	6.13%	9.30%
Slope	-5.46%	8.79%	6.87%	2.47%	3.52%	3.92%	4.32%
CAGR	-5.16%	8.71%	6.33%	2.89%	4.24%	3.58%	5.99%
LSR	-5.16%	9.82%	6.93%	2.29%	3.70%	4.19%	4.83%
Capital Expenditure
Avg YoY	4.31%	-5.76%	-8.32%	-4.56%	-11.08%	-9.24%	-10.42%
Slope	4.53%	-5.08%	-5.17%	0.08%	-3.77%	-5.23%	-4.93%
CAGR	-4.38%	5.10%	4.29%	0.00%	5.81%	4.27%	5.25%
LSR	-4.38%	5.47%	6.11%	0.05%	4.97%	6.80%	5.75%
Free Cash Flow
Avg YoY	-0.04%	8,107.49%	3,851.97%	2,245.48%	1,443.03%	1,146.94%	1,039.16%
Slope	-10.29%	36.53%	57.21%	71.25%	-8.84%	-14.38%	-5.92%
CAGR	-8.70%	47.43%	42.03%	—	-0.02%	1.26%	—
LSR	-8.70%	130.95%	—	—	—	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	28.59%	17.87%	9.97%	7.51%	4.15%	2.91%	4.02%
Slope	24.18%	12.80%	7.63%	4.01%	0.35%	-0.25%	0.28%
CAGR	25.66%	15.85%	8.68%	6.46%	2.53%	1.59%	2.80%
LSR	25.66%	12.48%	7.18%	3.61%	0.18%	-0.41%	0.18%
(-) Tax Adjustment
Avg YoY	98.60%	56.92%	4.42%	3.86%	1.21%	0.52%	2.15%
Slope	27.87%	13.81%	5.50%	-1.98%	-4.24%	-3.48%	-2.06%
CAGR	24.78%	17.41%	4.83%	4.02%	0.79%	0.22%	1.65%
LSR	24.78%	8.96%	—	—	—	—	—
Change In Working Capital
Avg YoY	-306.71%	-162.46%	-99.15%	-71.67%	-23.30%	-33.82%	-79.67%
Slope	-866.07%	0.96%	-11.65%	-63.77%	-97.16%	-22.65%	-12.86%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	4.31%	-5.76%	-8.32%	-4.56%	-11.08%	-9.24%	-10.42%
Slope	4.53%	-5.08%	-5.17%	0.08%	-3.77%	-5.23%	-4.93%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	210.35%	118.36%	26.45%	-5.61%	-12.56%	-9.96%	-2.40%
Slope	197.32%	32.34%	26.65%	155.84%	-4.57%	-11.26%	-7.69%
CAGR	—	46.11%	27.63%	—	2.97%	1.70%	1.99%
LSR	—	—	—	—	—	—	—
Net Interest After Taxes
Avg YoY	-10.61%	-2.11%	-6.46%	-7.41%	-7.63%	-7.63%	-7.63%
Slope	-8.72%	-2.36%	-2.98%	-5.48%	-7.27%	-9.46%	-9.90%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	233.60%	87.99%	117.35%	114.51%	29.44%	10.58%	144.31%
Slope	83.99%	27.43%	-5.32%	-7.96%	1.64%	16.73%	2.99%
CAGR	—	-19.95%	—	—	—	-0.52%	-1.87%
LSR	—	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	242.38%	95.83%	81.59%	106.06%	70.24%	55.23%	47.51%
Slope	132.86%	24.02%	11.77%	35.26%	1.08%	-2.79%	-3.04%
CAGR	—	24.01%	20.83%	—	4.18%	2.12%	2.09%
LSR	—	—	—	—	—	—	—