Keurig Dr Pepper Inc. (KDP)

Analysis: Growth Rates Industry: Beverages - Non-Alcoholic Sector: Consumer Defensive Live Price: $27.41

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Stock Price
Avg YoY	-5.08%	0.44%	10.40%	14.66%	13.87%
Slope	-5.25%	-0.97%	9.48%	12.27%	12.12%
CAGR	-5.09%	0.09%	8.82%	13.20%	11.08%
LSR	-5.09%	-0.93%	11.48%	15.89%	15.39%
Market Capitalization
Avg YoY	-4.90%	0.60%	10.40%	14.68%	13.82%
Slope	-5.06%	-0.83%	9.50%	12.27%	12.10%
CAGR	-4.91%	0.25%	8.86%	13.24%	11.06%
LSR	-4.91%	-0.79%	11.49%	15.88%	15.34%
(-) Cash & Equivalents
Avg YoY	23.61%	44.21%	32.72%	49.03%	56.33%
Slope	-0.29%	6.67%	-38.61%	-11.99%	-1.04%
CAGR	-0.24%	21.91%	-24.61%	-8.53%	6.62%
LSR	-0.24%	8.82%	-23.23%	-18.06%	-3.76%
(+) Total Debt
Avg YoY	15.32%	6.05%	-1.02%	5.28%	3.19%
Slope	14.31%	5.87%	-9.72%	-1.31%	-0.20%
CAGR	15.23%	5.52%	-3.61%	2.76%	0.60%
LSR	15.23%	5.70%	-8.63%	-1.30%	-0.43%
Enterprise Value
Avg YoY	-0.29%	1.60%	5.89%	9.74%	6.48%
Slope	-0.31%	0.71%	4.49%	7.78%	6.92%
CAGR	-0.31%	1.50%	5.32%	9.18%	5.67%
LSR	-0.31%	0.74%	5.01%	9.39%	7.47%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Revenue
Avg YoY	4.51%	7.25%	11.17%	7.97%	9.41%
Slope	4.39%	7.00%	11.00%	8.49%	7.00%
CAGR	4.50%	7.21%	10.44%	7.42%	8.59%
LSR	4.50%	7.39%	12.36%	8.56%	6.97%
Cost of Revenue
Avg YoY	0.65%	7.63%	12.17%	8.80%	11.48%
Slope	0.65%	7.08%	12.10%	9.44%	7.61%
CAGR	0.65%	7.38%	11.51%	8.27%	9.98%
LSR	0.65%	7.63%	13.99%	9.64%	7.68%
Gross Profit
Avg YoY	7.95%	7.11%	10.93%	7.70%	8.51%
Slope	7.56%	6.94%	10.12%	7.75%	6.52%
CAGR	7.92%	7.09%	9.65%	6.81%	7.70%
LSR	7.92%	7.19%	11.15%	7.75%	6.46%
Gross Margin
Avg YoY	3.28%	-0.05%	-0.54%	-0.45%	-0.68%
Slope	3.20%	-0.18%	-1.10%	-0.75%	-0.48%
CAGR	3.27%	-0.12%	-0.71%	-0.57%	-0.83%
LSR	3.27%	-0.18%	-1.07%	-0.75%	-0.47%
SG&A Expenses
Avg YoY	3.90%	6.01%	9.82%	6.56%	8.66%
Slope	3.79%	6.23%	9.53%	7.06%	6.19%
CAGR	3.89%	5.95%	8.97%	5.95%	7.92%
LSR	3.89%	6.51%	10.54%	7.03%	6.29%
Operating Expenses
Avg YoY	12.54%	10.64%	11.38%	7.49%	10.70%
Slope	11.77%	9.88%	10.25%	7.11%	5.74%
CAGR	12.19%	10.34%	10.46%	6.79%	8.88%
LSR	12.19%	10.15%	11.02%	6.90%	5.84%
Operating Income (EBIT)
Avg YoY	1.85%	2.60%	11.48%	9.18%	-38.35%
Slope	-0.25%	1.89%	9.90%	8.93%	8.06%
CAGR	-0.27%	1.10%	7.98%	6.85%	5.69%
LSR	-0.27%	1.87%	11.23%	9.35%	—
Operating Margin
Avg YoY	-2.70%	-4.32%	-0.86%	0.43%	-48.81%
Slope	-4.35%	-5.05%	-0.94%	0.75%	0.82%
CAGR	-4.56%	-5.70%	-2.22%	-0.53%	-2.68%
LSR	-4.56%	-5.13%	-1.00%	0.72%	—
Interest Income
Avg YoY	—	—	-16.67%	-10.42%	-14.75%
Slope	—	—	-40.91%	-18.75%	-21.91%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Interest Expense
Avg YoY	21.06%	4.80%	28.12%	17.38%	11.26%
Slope	18.54%	4.27%	13.65%	13.50%	7.97%
CAGR	20.89%	3.46%	20.68%	11.94%	6.41%
LSR	20.89%	4.07%	20.59%	16.11%	7.14%
Net Interest Income
Avg YoY	21.06%	4.80%	28.64%	17.76%	12.56%
Slope	-18.54%	-4.27%	-13.75%	-13.63%	-8.99%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Income / Expense
Avg YoY	4.08%	18.27%	34.32%	27.42%	22.28%
Slope	-0.28%	-4.25%	-13.29%	-12.09%	-8.71%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unusual Items
Avg YoY	4.08%	18.27%	34.32%	27.42%	22.28%
Slope	0.28%	4.25%	13.29%	12.09%	8.71%
CAGR	0.26%	0.69%	21.38%	10.39%	8.93%
LSR	0.26%	5.78%	19.82%	14.30%	8.23%
EBT excl. Unusual
Avg YoY	152.46%	157.29%	6.61%	-79.85%	-82.37%
Slope	10.67%	-1.93%	4.69%	5.04%	7.17%
CAGR	23.09%	6.55%	-5.79%	1.00%	0.13%
LSR	23.09%	2.79%	—	—	—
Pre-Tax Income
Avg YoY	14.90%	12.71%	15.07%	15.53%	-13.97%
Slope	4.58%	1.28%	9.14%	8.49%	7.96%
CAGR	5.52%	2.22%	5.48%	6.22%	4.64%
LSR	5.52%	1.62%	9.80%	8.77%	—
Pre-Tax Margin
Avg YoY	9.59%	5.21%	1.94%	6.12%	-24.05%
Slope	0.83%	-5.40%	-2.18%	0.24%	0.64%
CAGR	0.97%	-4.66%	-4.49%	-1.11%	-3.64%
LSR	0.97%	-5.37%	-2.27%	0.19%	—
Income Tax Expense
Avg YoY	42.47%	20.25%	25.99%	-29.73%	-60.91%
Slope	21.27%	0.27%	5.69%	5.48%	4.28%
CAGR	29.05%	2.53%	1.33%	3.45%	2.06%
LSR	29.05%	0.75%	7.56%	—	—
Net Income
Avg YoY	8.98%	11.71%	17.65%	14.14%	-12.80%
Slope	0.15%	1.57%	10.20%	9.47%	9.30%
CAGR	0.17%	2.12%	7.30%	7.43%	5.99%
LSR	0.17%	1.86%	11.34%	9.85%	—
Net Margin
Avg YoY	3.94%	4.15%	4.48%	4.83%	-22.80%
Slope	-3.62%	-4.97%	-0.79%	1.35%	2.32%
CAGR	-4.14%	-4.75%	-2.84%	0.01%	-2.40%
LSR	-4.14%	-5.15%	-0.91%	1.19%	—
Depreciation & Amortization
Avg YoY	1.68%	2.98%	17.69%	11.52%	15.21%
Slope	1.67%	2.44%	12.57%	10.81%	9.77%
CAGR	1.68%	2.93%	13.91%	8.87%	12.44%
LSR	1.68%	2.51%	16.77%	11.71%	10.69%
EBITDA
Avg YoY	1.51%	2.50%	11.58%	8.95%	167.06%
Slope	0.14%	2.00%	10.43%	9.30%	8.39%
CAGR	0.15%	1.49%	9.04%	7.25%	6.61%
LSR	0.15%	2.03%	12.13%	9.80%	11.08%
EBITDA Margin
Avg YoY	-3.00%	-4.42%	-0.51%	0.38%	163.21%
Slope	-4.02%	-4.97%	-0.14%	1.15%	1.28%
CAGR	-4.16%	-5.34%	-1.26%	-0.16%	-1.83%
LSR	-4.16%	-4.99%	-0.21%	1.14%	3.84%
NOPAT
Avg YoY	1.85%	2.60%	11.48%	9.18%	-38.35%
Slope	-0.25%	1.89%	9.90%	8.93%	8.06%
CAGR	-0.27%	1.10%	7.98%	6.85%	5.69%
LSR	-0.27%	1.87%	11.23%	9.35%	—
NOPAT Margin
Avg YoY	-2.70%	-4.32%	-0.86%	0.43%	-48.81%
Slope	-4.35%	-5.05%	-0.94%	0.75%	0.82%
CAGR	-4.56%	-5.70%	-2.22%	-0.53%	-2.68%
LSR	-4.56%	-5.13%	-1.00%	0.72%	—
Owner's Earnings
Avg YoY	1.80%	10.35%	14.27%	12.82%	-11.84%
Slope	-4.01%	1.66%	10.46%	10.20%	10.39%
CAGR	-4.49%	2.47%	7.92%	8.64%	6.22%
LSR	-4.49%	2.06%	11.89%	11.10%	—
Owner's Earnings Margin
Avg YoY	-2.86%	2.78%	2.05%	4.08%	-21.07%
Slope	-7.88%	-4.75%	-0.14%	2.32%	3.61%
CAGR	-8.60%	-4.42%	-2.28%	1.14%	-2.19%
LSR	-8.60%	-4.96%	-0.42%	2.34%	—
EPS (Basic)
Avg YoY	10.82%	12.38%	8.12%	9.89%	-15.62%
Slope	1.83%	2.26%	-19.03%	-7.30%	-0.82%
CAGR	2.16%	2.95%	-13.74%	-5.08%	-2.98%
LSR	2.16%	2.64%	-14.15%	-8.91%	—
EPS (Diluted)
Avg YoY	11.03%	12.56%	8.25%	10.00%	-15.54%
Slope	1.99%	2.39%	-19.04%	-7.30%	-0.84%
CAGR	2.35%	3.11%	-13.71%	-5.05%	-3.00%
LSR	2.35%	2.79%	-14.14%	-8.92%	—
Shares (Basic)
Avg YoY	-1.94%	-0.80%	57.61%	35.44%	25.84%
Slope	-1.96%	-0.76%	15.80%	15.82%	12.41%
CAGR	-1.95%	-0.81%	24.40%	13.19%	9.25%
LSR	-1.95%	-0.76%	29.69%	20.59%	12.29%
Shares (Diluted)
Avg YoY	-2.13%	-0.95%	57.90%	35.63%	26.02%
Slope	-2.15%	-0.90%	15.76%	15.81%	12.43%
CAGR	-2.13%	-0.96%	24.36%	13.15%	9.27%
LSR	-2.13%	-0.90%	29.67%	20.60%	12.34%

Product Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Appliances
Avg YoY	-0.55%	-0.55%	-0.55%	-0.55%	-0.55%
Slope	-0.55%	-0.55%	-0.55%	-0.55%	-0.55%
CAGR	-0.55%	-0.55%	-0.55%	-0.55%	-0.55%
LSR	—	—	—	—	—
K-Cup Pods
Avg YoY	0.97%	0.97%	0.97%	0.97%	0.97%
Slope	0.97%	0.97%	0.97%	0.97%	0.97%
CAGR	0.97%	0.97%	0.97%	0.97%	0.97%
LSR	—	—	—	—	—
LRB
Avg YoY	9.80%	9.80%	9.80%	9.80%	9.80%
Slope	9.34%	9.34%	9.34%	9.34%	9.34%
CAGR	9.80%	9.80%	9.80%	9.80%	9.80%
LSR	—	—	—	—	—
Other Products
Avg YoY	-3.59%	-3.59%	-3.59%	-3.59%	-3.59%
Slope	-3.66%	-3.66%	-3.66%	-3.66%	-3.66%
CAGR	-3.59%	-3.59%	-3.59%	-3.59%	-3.59%
LSR	—	—	—	—	—
Beverage Concentrates
Avg YoY	13.87%	21.18%	1.43%	2.20%	2.20%
Slope	13.01%	12.96%	-21.24%	-14.50%	-14.50%
CAGR	13.84%	18.64%	-16.33%	-12.72%	-12.72%
LSR	13.84%	15.15%	-23.90%	-19.35%	-19.35%
Coffee Systems
Avg YoY	5.77%	-1.09%	-1.09%	-1.09%	-1.09%
Slope	5.61%	-0.61%	-0.61%	-0.61%	-0.61%
CAGR	5.77%	-1.79%	-1.79%	-1.79%	-1.79%
LSR	5.77%	-0.42%	-0.42%	-0.42%	-0.42%
Latin America Beverages
Avg YoY	22.01%	26.33%	3.66%	4.69%	4.69%
Slope	19.86%	17.07%	-21.53%	-13.97%	-13.97%
CAGR	21.99%	23.68%	-15.06%	-11.07%	-11.07%
LSR	21.99%	19.96%	-23.66%	-18.56%	-18.56%
Packaged Beverages
Avg YoY	10.76%	22.03%	2.29%	2.66%	2.66%
Slope	10.23%	15.07%	-20.57%	-14.05%	-14.05%
CAGR	10.74%	20.41%	-15.50%	-12.22%	-12.22%
LSR	10.74%	17.98%	-23.01%	-18.63%	-18.63%

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
International
Avg YoY	13.70%	12.26%	-0.59%	2.61%	2.61%
Slope	12.62%	12.03%	-16.01%	-8.49%	-8.49%
CAGR	13.64%	12.21%	-9.82%	-3.83%	-3.83%
LSR	13.64%	12.80%	-11.86%	-9.42%	-9.42%
UNITED STATES
Avg YoY	5.86%	7.74%	-2.04%	1.21%	1.21%
Slope	5.70%	7.40%	-17.92%	-8.90%	-8.90%
CAGR	5.86%	7.72%	-11.38%	-5.23%	-5.23%
LSR	5.86%	7.78%	-13.55%	-10.06%	-10.06%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Cash & Cash Equivalents
Avg YoY	23.61%	44.21%	32.72%	49.03%	56.33%
Slope	-0.29%	6.67%	-38.61%	-11.99%	-1.04%
CAGR	-0.24%	21.91%	-24.61%	-8.53%	6.62%
LSR	-0.24%	8.82%	-23.23%	-18.06%	-3.76%
Cash & Short-Term Investments
Avg YoY	23.61%	44.21%	32.72%	49.03%	56.33%
Slope	-0.29%	6.67%	-38.61%	-11.99%	-1.04%
CAGR	-0.24%	21.91%	-24.61%	-8.53%	6.62%
LSR	-0.24%	8.82%	-23.23%	-18.06%	-3.76%
Net Receivables
Avg YoY	4.56%	12.73%	-3.43%	0.30%	1.59%
Slope	3.92%	10.53%	-16.72%	-8.37%	-6.02%
CAGR	3.85%	11.85%	-10.04%	-4.37%	—
LSR	3.85%	11.47%	-13.25%	-9.44%	—
Inventory
Avg YoY	2.62%	17.25%	3.00%	2.51%	1.19%
Slope	1.65%	13.17%	-3.33%	-2.51%	-0.87%
CAGR	1.59%	15.37%	-1.49%	-0.41%	—
LSR	1.59%	15.06%	-2.60%	-2.75%	—
Other Current Assets
Avg YoY	43.28%	23.04%	9.05%	16.54%	-1.39%
Slope	34.62%	11.18%	-10.27%	-5.31%	-0.39%
CAGR	38.61%	16.55%	-2.16%	1.63%	—
LSR	38.61%	10.09%	-8.97%	-5.59%	—
Total Current Assets
Avg YoY	6.99%	16.10%	-2.31%	5.03%	5.11%
Slope	5.05%	10.96%	-21.75%	-8.32%	-3.43%
CAGR	4.86%	14.58%	-12.38%	-3.72%	—
LSR	4.86%	12.08%	-15.45%	-9.55%	—
Property, Plant & Equipment
Avg YoY	9.10%	8.76%	-2.94%	-0.23%	2.66%
Slope	8.73%	8.05%	-13.03%	-7.41%	-1.22%
CAGR	9.09%	8.74%	-8.10%	-3.77%	—
LSR	9.09%	8.39%	-10.23%	-7.94%	—
Goodwill
Avg YoY	2.13%	0.81%	-0.07%	1.69%	1.22%
Slope	2.11%	0.79%	-2.32%	0.31%	2.58%
CAGR	2.13%	0.80%	-0.64%	1.26%	—
LSR	2.13%	0.79%	-2.22%	0.35%	—
Intangible Assets
Avg YoY	3.17%	0.65%	3.70%	4.02%	1.90%
Slope	3.13%	0.40%	0.33%	2.80%	3.72%
CAGR	3.17%	0.62%	2.49%	3.21%	—
LSR	3.17%	0.39%	0.62%	3.05%	—
Long-Term Investments
Avg YoY	28.08%	275.62%	110.58%	92.60%	81.23%
Slope	23.22%	50.95%	17.11%	16.32%	16.14%
CAGR	27.44%	90.06%	13.92%	26.31%	—
LSR	27.44%	121.35%	10.36%	16.52%	—
Tax Assets
Avg YoY	9.66%	-1.10%	-6.04%	-7.36%	85.56%
Slope	8.00%	-5.03%	-33.03%	-19.66%	-7.09%
CAGR	7.86%	-2.58%	-23.89%	-19.50%	—
LSR	7.86%	-4.87%	-27.55%	-25.80%	—
Other Non-Current Assets
Avg YoY	-9.59%	9.11%	3.09%	-1.24%	21.02%
Slope	-15.75%	2.89%	-21.06%	-19.94%	-8.24%
CAGR	-13.46%	3.78%	-12.68%	-16.96%	—
LSR	-13.46%	3.10%	-17.44%	-19.80%	—
Other Assets
Avg YoY	—	—	—	—	-100.00%
Slope	—	—	—	—	-28.57%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Total Non-Current Assets
Avg YoY	3.66%	2.05%	0.66%	1.67%	1.57%
Slope	3.60%	2.03%	-2.14%	0.05%	1.06%
CAGR	3.65%	2.04%	-0.16%	1.07%	1.11%
LSR	3.65%	2.02%	-2.00%	0.06%	1.09%
Total Assets
Avg YoY	3.76%	2.76%	-1.20%	1.13%	2.21%
Slope	3.70%	2.59%	-4.27%	-0.96%	0.49%
CAGR	3.74%	2.75%	-1.84%	0.57%	1.52%
LSR	3.74%	2.60%	-3.99%	-0.99%	0.52%
Accounts Payable
Avg YoY	-22.25%	-2.25%	6.22%	5.28%	14.45%
Slope	-26.18%	-4.87%	6.36%	6.84%	5.94%
CAGR	-22.63%	-4.57%	4.73%	4.19%	—
LSR	-22.63%	-5.28%	7.01%	7.23%	—
Short-Term Debt
Avg YoY	125.82%	89.71%	69.77%	1,306.66%	1,044.27%
Slope	40.24%	19.75%	4.31%	1.03%	2.79%
CAGR	75.55%	4.02%	-3.25%	1.06%	—
LSR	75.55%	30.96%	—	—	—
Tax Payables
Avg YoY	35.81%	74.93%	37.24%	246.44%	237.69%
Slope	-13.73%	-7.18%	-7.33%	-24.06%	-6.11%
CAGR	-10.33%	15.60%	-11.04%	-2.92%	—
LSR	-10.33%	-4.20%	-5.03%	-14.13%	—
Deferred Revenue
Avg YoY	—	—	-31.60%	-9.05%	-9.05%
Slope	—	—	-42.22%	-17.82%	-2.49%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Current Liabilities
Avg YoY	11.16%	15.36%	-5.91%	-0.49%	61.36%
Slope	10.50%	14.00%	-31.43%	-13.57%	-1.84%
CAGR	10.79%	14.53%	-21.11%	-11.44%	—
LSR	10.79%	15.21%	-25.40%	-19.16%	—
Total Current Liabilities
Avg YoY	-0.36%	2.04%	-2.36%	3.40%	7.42%
Slope	-1.08%	3.66%	-4.08%	-2.86%	2.27%
CAGR	-1.12%	0.04%	-5.56%	-1.02%	—
LSR	-1.12%	3.87%	-3.33%	-2.64%	—
Long-Term Debt
Avg YoY	12.37%	5.95%	-0.17%	5.85%	2.54%
Slope	10.43%	2.68%	-12.29%	-2.29%	-1.05%
CAGR	10.34%	4.76%	-4.49%	2.25%	-0.93%
LSR	10.34%	2.36%	-10.91%	-2.44%	-1.53%
Capital Lease Obligations
Avg YoY	5.45%	16.57%	16.21%	335.16%	335.16%
Slope	5.32%	12.52%	7.12%	-13.07%	0.18%
CAGR	5.41%	15.80%	6.61%	-11.50%	—
LSR	5.41%	14.49%	7.50%	-4.71%	—
Deferred Tax Liabilities
Avg YoY	-0.54%	-1.44%	1.82%	1.63%	0.80%
Slope	-0.56%	-1.43%	-0.47%	1.21%	1.29%
CAGR	-0.57%	-1.47%	-0.33%	-0.83%	—
LSR	-0.57%	-1.42%	-0.34%	1.43%	—
Other Non-Current Liabilities
Avg YoY	110.30%	70.12%	20.26%	10.73%	45.45%
Slope	64.80%	41.24%	-14.77%	-17.84%	10.06%
CAGR	82.30%	53.46%	-3.95%	-8.39%	—
LSR	82.30%	43.73%	-11.68%	-18.15%	—
Total Non-Current Liabilities
Avg YoY	9.71%	5.39%	-0.47%	1.71%	2.71%
Slope	8.78%	3.29%	-8.69%	-3.82%	0.02%
CAGR	8.80%	4.84%	-2.94%	-2.27%	—
LSR	8.80%	3.13%	-7.79%	-4.03%	—
Total Liabilities
Avg YoY	6.52%	3.82%	-2.07%	0.45%	1.79%
Slope	6.24%	3.39%	-7.71%	-3.62%	0.46%
CAGR	6.31%	3.66%	-3.60%	-2.01%	—
LSR	6.31%	3.34%	-6.91%	-3.77%	—
Common Stock
Avg YoY	2.18%	0.98%	0.31%	1.92%	-0.22%
Slope	2.16%	0.92%	-1.25%	0.68%	4.40%
CAGR	2.18%	0.97%	-0.18%	1.55%	—
LSR	2.18%	0.91%	-1.21%	0.73%	—
Retained Earnings
Avg YoY	19.44%	26.01%	8.07%	22.83%	36.45%
Slope	16.69%	19.77%	-21.54%	-5.03%	5.13%
CAGR	18.91%	24.69%	-12.16%	5.53%	—
LSR	18.91%	23.78%	-14.64%	-5.46%	—
Accumulated OCI
Avg YoY	-21.26%	-193.02%	-115.36%	-43.68%	-79.70%
Slope	-390.21%	-91.05%	44.33%	13.63%	-47.15%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Minority Interest
Avg YoY	-100.00%	-100.00%	-100.00%	-53.74%	-53.74%
Slope	150.00%	-22,320.31%	-5,380.68%	-20.95%	-4.24%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	15.03%	23.26%	8.86%	22.81%	-82.03%
Slope	11.76%	18.45%	-20.02%	-4.37%	0.98%
CAGR	13.35%	21.63%	-11.80%	5.61%	—
LSR	13.35%	22.23%	-13.38%	-4.41%	—
Total Equity
Avg YoY	15.05%	23.24%	8.86%	22.84%	-82.01%
Slope	11.77%	18.44%	-20.02%	-4.41%	0.97%
CAGR	13.36%	21.61%	-11.80%	5.61%	—
LSR	13.36%	22.22%	-13.38%	-4.44%	—
Total Liabilities & Equity
Avg YoY	7.27%	5.51%	-2.62%	1.51%	1.12%
Slope	7.04%	5.30%	-9.92%	-3.76%	0.55%
CAGR	7.23%	5.46%	-5.29%	-1.34%	—
LSR	7.23%	5.36%	-8.48%	-4.01%	—
Tangible Assets
Avg YoY	9.32%	16.21%	-1.86%	1.47%	-0.37%
Slope	8.80%	13.90%	-16.48%	-8.35%	-5.85%
CAGR	8.95%	15.71%	-9.12%	-4.05%	-7.21%
LSR	8.95%	15.42%	-12.08%	-9.12%	-6.55%
Tangible Equity
Avg YoY	1.67%	-0.74%	6.42%	3.23%	6.40%
Slope	-1.64%	1.07%	-2.52%	-2.73%	-3.55%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Tangible Book Value
Avg YoY	1.67%	-0.74%	6.42%	3.23%	6.40%
Slope	-1.64%	1.07%	-2.52%	-2.73%	-3.55%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Total Investments
Avg YoY	28.08%	275.62%	110.58%	92.60%	81.23%
Slope	23.22%	50.95%	17.11%	16.32%	16.14%
CAGR	27.44%	90.06%	13.92%	26.31%	—
LSR	27.44%	121.35%	10.36%	16.52%	—
Net Debt
Avg YoY	17.24%	5.13%	3.06%	6.05%	3.04%
Slope	15.93%	5.08%	-6.98%	-0.55%	-0.71%
CAGR	17.21%	4.23%	-1.09%	2.99%	-0.08%
LSR	17.21%	4.90%	-6.33%	-0.54%	-0.89%

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Working Capital
Avg YoY	3.77%	-0.89%	104.11%	99.48%	-101.05%
Slope	0.02%	-0.15%	-66.37%	-47.23%	-289.62%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Total Capital
Avg YoY	5.82%	3.06%	1.21%	4.11%	3.10%
Slope	5.65%	3.14%	-2.25%	1.82%	1.26%
CAGR	5.82%	3.02%	0.53%	3.50%	2.00%
LSR	5.82%	3.14%	-2.12%	2.09%	1.35%
Capital Employed
Avg YoY	4.08%	2.93%	-0.61%	1.14%	1.34%
Slope	3.98%	2.22%	-4.56%	-0.99%	0.21%
CAGR	4.01%	2.87%	-1.47%	0.48%	0.65%
LSR	4.01%	2.22%	-4.25%	-1.02%	0.18%
Invested Capital
Avg YoY	5.90%	2.91%	3.70%	4.86%	3.37%
Slope	5.71%	3.10%	-0.20%	2.68%	1.38%
CAGR	5.90%	2.86%	2.41%	3.94%	1.96%
LSR	5.90%	3.10%	0.04%	2.99%	1.46%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Net Income
Avg YoY	11.03%	12.56%	8.16%	9.94%	13.58%
Slope	1.99%	2.39%	-19.04%	-7.30%	-0.84%
CAGR	2.35%	3.11%	-13.71%	-5.05%	-3.00%
LSR	2.35%	2.79%	-14.15%	-8.91%	—
Depreciation & Amortization
Avg YoY	3.89%	3.97%	-3.80%	-0.53%	6.60%
Slope	3.83%	3.37%	-12.23%	-6.96%	-1.41%
CAGR	3.89%	3.93%	-8.40%	-3.78%	2.90%
LSR	3.89%	3.45%	-9.95%	-7.37%	-1.47%
Deferred Income Tax
Avg YoY	-3,168.75%	-1,802.21%	-884.80%	-676.20%	-510.84%
Slope	6.40%	-40.02%	2.91%	10.33%	-2.03%
CAGR	-4.21%	50.84%	—	—	—
LSR	-4.21%	—	—	—	—
Stock-Based Compensation
Avg YoY	56.61%	18.85%	5.85%	9.12%	12.55%
Slope	27.75%	7.13%	-18.51%	-8.48%	2.04%
CAGR	40.27%	4.63%	-12.10%	-3.59%	—
LSR	40.27%	6.73%	-13.62%	-9.81%	—
Change in Working Capital
Avg YoY	-239.58%	-136.72%	-211.28%	-150.39%	284.45%
Slope	-19.26%	-85.99%	-33.44%	-66.50%	-31.49%
CAGR	49.79%	—	33.91%	—	—
LSR	49.79%	—	—	—	—
Accounts Receivable
Avg YoY	-144.74%	-844.72%	-378.38%	-546.71%	-473.22%
Slope	49.47%	-14.47%	4.35%	-2.63%	-9.04%
CAGR	-25.96%	156.73%	1.37%	23.19%	—
LSR	—	—	—	—	—
Inventory
Avg YoY	-4.35%	-63.16%	38.39%	2.70%	41.06%
Slope	146.67%	29.46%	-30.28%	-224.53%	-72.60%
CAGR	-52.52%	-2.77%	1.82%	—	—
LSR	—	—	—	—	—
Accounts Payable
Avg YoY	-391.47%	-200.31%	-26.54%	13.67%	20.19%
Slope	-38.37%	-223.96%	-555.30%	-652.78%	-75.25%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Working Capital
Avg YoY	-70.20%	69.74%	-28.20%	-17.40%	60.98%
Slope	-438.31%	-204.05%	15.06%	-44.75%	-16.55%
CAGR	—	1.79%	—	—	—
LSR	—	—	—	—	—
Other Non-Cash Items
Avg YoY	549.65%	301.38%	158.86%	79.08%	361.33%
Slope	-27.01%	41.83%	319.96%	190.28%	-13.12%
CAGR	-17.13%	31.18%	—	—	—
LSR	-17.13%	—	—	—	—
Net Cash from Operating Activities
Avg YoY	9.69%	8.65%	-1.26%	-0.10%	13.12%
Slope	-12.01%	-7.72%	-17.10%	-10.91%	-3.24%
CAGR	-9.64%	-1.56%	-12.05%	-12.46%	-1.82%
LSR	-9.64%	-8.45%	-14.80%	-10.52%	-3.91%
Capital Expenditures (PPE)
Avg YoY	-24.60%	-5.03%	-5.96%	-3.29%	-19.39%
Slope	-21.53%	-3.49%	15.17%	9.54%	4.54%
CAGR	24.53%	3.14%	-8.72%	-6.24%	4.65%
LSR	24.53%	3.22%	-11.24%	-10.28%	-4.90%
Acquisitions (Net)
Avg YoY	-80.44%	2,798.61%	-3,137.06%	-2,181.52%	-1,877.78%
Slope	-8.70%	-87.38%	19.07%	-4.82%	-7.98%
CAGR	6.99%	279.70%	24.20%	44.75%	—
LSR	6.99%	—	—	—	—
Purchases of Investments
Avg YoY	100.00%	-3,793.14%	-1,433.99%	-1,263.55%	-922.98%
Slope	150.00%	19.04%	-17.99%	-20.95%	-11.99%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	-100.00%	3,740.56%	1,558.56%	1,351.24%	985.65%
Slope	-150.00%	-46.45%	2.47%	13.46%	-6.46%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Investing Activities
Avg YoY	-301.29%	116.64%	92.84%	105.60%	20.05%
Slope	-163.61%	-22.47%	20.93%	15.86%	-10.44%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-40.98%	-139.01%	-166.69%	-107.78%	-95.89%
Slope	-22.82%	-50.24%	18.77%	-0.95%	-6.38%
CAGR	21.84%	51.79%	1.76%	1.73%	—
LSR	21.84%	—	—	—	—
Net Debt Issuance
Avg YoY	374.75%	196.81%	264.47%	233.80%	59.32%
Slope	118.06%	1,745.03%	-30.20%	6.25%	21.54%
CAGR	—	—	-9.05%	—	—
LSR	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	250.09%	-78.00%	57.82%	5,331.38%	3,815.42%
Slope	141.12%	225.63%	-27.60%	7.12%	22.05%
CAGR	—	84.77%	-7.07%	—	—
LSR	—	—	—	—	—
Short-Term Debt Issuance
Avg YoY	-1,376.06%	-643.48%	-937.11%	-807.47%	-706.64%
Slope	-418.26%	54.29%	-195.74%	-127.60%	-71.91%
CAGR	—	-22.96%	—	—	—
LSR	—	—	—	—	—
Net Stock Issuance
Avg YoY	-71.79%	-36.02%	33.59%	23.45%	-8,348.27%
Slope	-50.56%	-76.96%	159.18%	30.33%	9.51%
CAGR	71.50%	—	-11.96%	-11.64%	—
LSR	71.50%	—	—	—	—
Common Stock Issuance
Avg YoY	—	140.40%	1,510.60%	1,510.60%	1,242.17%
Slope	—	-58.61%	-12.79%	7.74%	11.86%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Common Stock Repurchased
Avg YoY	-75.38%	-75.38%	11.34%	8.82%	8.82%
Slope	-51.90%	-67.30%	19.03%	10.44%	-1.66%
CAGR	74.86%	—	-12.53%	-11.64%	—
LSR	74.86%	—	—	—	—
Preferred Stock Issuance
Avg YoY	100.00%	100.00%	-17.29%	-37.97%	-37.97%
Slope	150.00%	0.00%	-54.46%	-13.36%	0.02%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Dividends Paid
Avg YoY	-7.43%	-10.08%	-16.96%	-17.63%	-69.45%
Slope	-7.17%	-9.42%	13.46%	4.79%	3.91%
CAGR	7.43%	10.05%	-7.98%	0.63%	—
LSR	7.43%	10.06%	-8.87%	-5.28%	—
Common Dividends Paid
Avg YoY	-7.43%	-10.08%	-16.96%	-17.63%	-69.45%
Slope	-7.17%	-9.42%	13.46%	4.79%	3.91%
CAGR	7.43%	10.05%	-7.98%	0.63%	—
LSR	7.43%	10.06%	-8.87%	-5.28%	—
Other Financing Activities
Avg YoY	-94.50%	-39.16%	-20.48%	44.76%	395.32%
Slope	-63.39%	-25.94%	-75.77%	-58.51%	-17.23%
CAGR	86.93%	—	11.02%	—	—
LSR	86.93%	—	—	—	—
Net Cash from Financing Activities
Avg YoY	61.79%	30.70%	-15.94%	-23.57%	-5.54%
Slope	79.97%	36.02%	-57.76%	32.74%	14.75%
CAGR	-63.29%	-41.58%	—	-25.15%	-14.52%
LSR	-63.29%	-42.23%	—	—	—
Effect of FX on Cash
Avg YoY	26.59%	6.51%	9.50%	-21.63%	-69.93%
Slope	-175.90%	-49.69%	20.36%	0.71%	13.60%
CAGR	147.28%	63.25%	-4.83%	—	-8.60%
LSR	—	—	—	—	—
Net Change in Cash
Avg YoY	-246.37%	-121.70%	-19.80%	115.75%	116.55%
Slope	1,140.15%	-15.94%	-330.45%	-81.96%	-166.86%
CAGR	—	25.25%	—	—	10.81%
LSR	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	-26.55%	49.59%	54.30%	43.14%	53.84%
Slope	-31.23%	17.71%	-30.64%	-9.05%	1.32%
CAGR	-29.95%	25.74%	-18.51%	-11.92%	5.17%
LSR	-29.95%	29.53%	-25.48%	-18.24%	-0.69%
Cash at End of Period
Avg YoY	42.50%	50.25%	24.22%	43.56%	52.30%
Slope	10.39%	10.15%	-37.81%	-11.53%	-0.76%
CAGR	8.92%	25.47%	-23.12%	-7.37%	7.61%
LSR	8.92%	11.34%	-25.54%	-17.26%	-2.60%
Operating Cash Flow
Avg YoY	9.69%	8.65%	-1.26%	-0.10%	13.12%
Slope	-12.01%	-7.72%	-17.10%	-10.91%	-3.24%
CAGR	-9.64%	-1.56%	-12.05%	-12.46%	-1.82%
LSR	-9.64%	-8.45%	-14.80%	-10.52%	-3.91%
Capital Expenditure
Avg YoY	-24.60%	-5.03%	-5.96%	-3.29%	-19.39%
Slope	-21.53%	-3.49%	15.17%	9.54%	4.54%
CAGR	24.53%	3.14%	-8.72%	-6.24%	4.65%
LSR	24.53%	3.22%	-11.24%	-10.28%	-4.90%
Free Cash Flow
Avg YoY	18.00%	15.45%	0.48%	5.34%	22.31%
Slope	-21.67%	-10.61%	-17.55%	-11.22%	-2.89%
CAGR	-16.13%	-2.94%	-12.95%	-13.64%	-2.92%
LSR	-16.13%	-11.95%	-15.99%	-10.38%	-3.25%

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
EBITDA
Avg YoY	14.46%	9.01%	0.44%	3.32%	4.66%
Slope	13.37%	7.93%	-17.49%	-8.20%	-3.01%
CAGR	14.44%	8.72%	-10.59%	-4.27%	-1.17%
LSR	14.44%	8.10%	-12.96%	-9.26%	-4.42%
(-) Tax Adjustment
Avg YoY	40.15%	13.63%	-2.53%	-6.96%	1.42%
Slope	32.46%	7.86%	-22.27%	-10.84%	-5.06%
CAGR	39.97%	9.05%	-13.99%	-6.62%	-2.96%
LSR	39.97%	7.17%	-14.68%	—	—
Change In Working Capital
Avg YoY	-239.58%	-136.72%	-211.28%	-150.39%	284.45%
Slope	-19.26%	-85.99%	-33.44%	-66.50%	-31.49%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Capital Expenditure
Avg YoY	-24.60%	-5.03%	-5.96%	-3.29%	-19.39%
Slope	-21.53%	-3.49%	15.17%	9.54%	4.54%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	19.10%	23.09%	17.51%	47.32%	20.55%
Slope	9.23%	20.59%	-13.33%	-0.73%	0.17%
CAGR	11.22%	18.41%	-7.21%	—	-0.07%
LSR	11.22%	24.49%	-8.45%	—	—
Net Interest After Taxes
Avg YoY	-17.41%	-5.17%	-5.50%	-5.68%	-4.62%
Slope	-15.67%	-5.40%	6.58%	2.33%	2.50%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Debt Issuance
Avg YoY	374.75%	196.81%	264.47%	233.80%	59.32%
Slope	118.06%	1,745.03%	-30.20%	6.25%	21.54%
CAGR	—	—	-9.05%	—	—
LSR	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	55.05%	128.29%	59.08%	58.30%	2.94%
Slope	33.10%	47.95%	-18.17%	0.60%	2.71%
CAGR	46.58%	58.56%	-7.58%	—	3.65%
LSR	46.58%	84.27%	-16.13%	—	—