ValueCommerce Co., Ltd. (2491.T)

Analysis: Growth Rates Industry: Advertising Agencies Sector: Communication Services Live Price: $667.00

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Stock Price
Avg YoY	-19.48%	-14.56%	25.07%	48.80%	33.00%
Slope	-21.47%	-29.01%	10.51%	13.13%	10.45%
CAGR	-19.48%	-22.08%	9.85%	16.39%	0.55%
LSR	-19.48%	-26.73%	17.59%	21.56%	14.45%
Market Capitalization
Avg YoY	-19.46%	-14.55%	25.07%	48.68%	32.77%
Slope	-21.45%	-28.99%	10.52%	13.16%	10.53%
CAGR	-19.47%	-22.06%	9.86%	16.46%	0.55%
LSR	-19.47%	-26.71%	17.60%	21.62%	14.61%
(-) Cash & Equivalents
Avg YoY	-11.59%	10.67%	19.39%	14.45%	19.63%
Slope	-13.42%	7.99%	17.68%	14.21%	12.59%
CAGR	-13.50%	7.22%	15.64%	11.67%	14.87%
LSR	-13.50%	9.27%	22.73%	15.28%	13.83%
Enterprise Value
Avg YoY	-22.06%	-18.40%	29.83%	235.25%	214.65%
Slope	-26.68%	-39.05%	8.72%	12.89%	10.01%
CAGR	-22.78%	-29.27%	7.24%	22.85%	-1.93%
LSR	-22.78%	-35.44%	14.79%	—	—

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Revenue
Avg YoY	-7.11%	1.80%	7.67%	11.78%	11.86%
Slope	-8.32%	-0.53%	8.13%	10.17%	10.22%
CAGR	-7.72%	1.04%	6.92%	11.09%	11.20%
LSR	-7.72%	-0.49%	9.09%	12.26%	12.30%
Cost of Revenue
Avg YoY	-4.88%	4.62%	6.33%	12.96%	15.37%
Slope	-5.88%	2.11%	6.71%	9.75%	10.51%
CAGR	-5.51%	3.81%	5.49%	11.95%	14.13%
LSR	-5.51%	2.30%	7.16%	12.20%	13.93%
Gross Profit
Avg YoY	-11.26%	-2.94%	12.26%	10.71%	8.90%
Slope	-12.94%	-5.17%	10.91%	10.97%	9.67%
CAGR	-11.78%	-3.65%	10.61%	9.59%	7.81%
LSR	-11.78%	-5.22%	13.85%	12.53%	10.21%
Gross Margin
Avg YoY	-4.40%	-4.64%	4.38%	-0.50%	-2.21%
Slope	-4.49%	-4.86%	3.82%	0.15%	-2.16%
CAGR	-4.40%	-4.65%	3.46%	-1.35%	-3.04%
LSR	-4.40%	-4.75%	4.36%	0.24%	-1.86%
SG&A Expenses
Avg YoY	12.93%	2.64%	10.74%	7.97%	0.29%
Slope	12.20%	1.67%	8.48%	11.20%	8.95%
CAGR	12.79%	2.06%	9.82%	—	5.42%
LSR	12.79%	1.53%	9.34%	—	—
Operating Expenses
Avg YoY	12.91%	2.64%	10.74%	7.86%	5.98%
Slope	12.19%	1.68%	8.49%	7.35%	5.58%
CAGR	12.78%	2.06%	9.81%	7.15%	5.36%
LSR	12.78%	1.54%	9.34%	7.57%	5.36%
Operating Income (EBIT)
Avg YoY	-28.53%	-6.39%	22.50%	22.87%	29.25%
Slope	-34.77%	-10.69%	13.12%	14.81%	14.80%
CAGR	-28.99%	-9.56%	11.85%	15.49%	16.38%
LSR	-28.99%	-11.46%	20.10%	20.34%	22.59%
Operating Margin
Avg YoY	-23.05%	-9.38%	13.84%	10.31%	15.97%
Slope	-25.89%	-10.57%	7.25%	6.73%	7.58%
CAGR	-23.05%	-10.50%	4.61%	3.96%	4.66%
LSR	-23.05%	-11.02%	10.10%	7.20%	9.15%
Interest Income
Avg YoY	—	-65.91%	44.95%	44.95%	3.58%
Slope	—	-79.73%	8.60%	17.19%	12.55%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Interest Expense
Avg YoY	—	—	—	—	-78.57%
Slope	—	—	—	—	-18.65%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Interest Income
Avg YoY	—	-65.91%	44.95%	44.95%	2.69%
Slope	—	-79.73%	8.60%	17.19%	12.65%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Income / Expense
Avg YoY	-223.61%	-900.06%	-499.32%	-320.67%	3.06%
Slope	-104.82%	39.44%	-7.12%	-20.02%	-11.51%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unusual Items
Avg YoY	-223.61%	-900.06%	-499.32%	-320.67%	3.06%
Slope	104.82%	-39.44%	7.12%	20.02%	11.51%
CAGR	—	—	—	—	1.01%
LSR	—	—	—	—	—
EBT excl. Unusual
Avg YoY	-29.16%	16.72%	61.08%	48.29%	-21.26%
Slope	-37.45%	-5.09%	14.19%	14.07%	15.37%
CAGR	-30.36%	-10.49%	10.37%	14.33%	18.68%
LSR	-30.36%	-4.06%	25.54%	18.02%	—
Pre-Tax Income
Avg YoY	-28.90%	-4.51%	29.96%	27.72%	117.89%
Slope	-36.10%	-8.04%	13.62%	14.47%	15.06%
CAGR	-29.68%	-9.95%	11.09%	14.89%	17.41%
LSR	-29.68%	-8.75%	22.00%	19.27%	28.15%
Pre-Tax Margin
Avg YoY	-23.75%	-7.08%	20.01%	14.14%	100.66%
Slope	-27.15%	-8.14%	7.88%	5.95%	8.62%
CAGR	-23.80%	-10.88%	3.91%	3.43%	5.59%
LSR	-23.80%	-8.30%	11.83%	6.25%	14.11%
Income Tax Expense
Avg YoY	-29.02%	-8.28%	20.92%	74.88%	-31.54%
Slope	-34.79%	-10.48%	12.77%	14.21%	15.52%
CAGR	-29.25%	-10.81%	9.33%	30.42%	24.69%
LSR	-29.25%	-11.34%	19.38%	23.54%	—
Net Income
Avg YoY	-28.73%	-0.75%	37.48%	29.93%	97.18%
Slope	-36.70%	-6.86%	14.03%	14.59%	14.83%
CAGR	-29.88%	-9.56%	11.97%	12.36%	15.90%
LSR	-29.88%	-7.34%	23.51%	18.92%	—
Net Margin
Avg YoY	-23.85%	-3.48%	27.50%	16.57%	82.22%
Slope	-27.70%	-7.01%	8.40%	5.75%	7.33%
CAGR	-24.01%	-10.50%	4.72%	1.15%	4.23%
LSR	-24.01%	-6.88%	13.22%	5.93%	—
Depreciation & Amortization
Avg YoY	-4.23%	-12.07%	6.82%	17.96%	9.80%
Slope	-4.48%	-14.51%	0.05%	9.18%	7.57%
CAGR	-4.32%	-14.04%	-0.59%	9.17%	2.60%
LSR	-4.32%	-12.07%	0.32%	13.72%	8.37%
EBITDA
Avg YoY	-26.98%	-7.59%	16.74%	19.41%	18.68%
Slope	-32.63%	-10.98%	11.73%	14.21%	13.93%
CAGR	-27.43%	-10.03%	9.83%	14.61%	12.39%
LSR	-27.43%	-11.63%	16.97%	19.55%	19.09%
EBITDA Margin
Avg YoY	-21.36%	-10.25%	7.96%	6.68%	6.17%
Slope	-23.78%	-10.92%	5.52%	6.09%	5.58%
CAGR	-21.37%	-10.96%	2.72%	3.17%	1.08%
LSR	-21.37%	-11.20%	7.22%	6.50%	6.05%
NOPAT
Avg YoY	-28.53%	-6.39%	22.50%	22.87%	29.25%
Slope	-34.77%	-10.69%	13.12%	14.81%	14.80%
CAGR	-28.99%	-9.56%	11.85%	15.49%	16.38%
LSR	-28.99%	-11.46%	20.10%	20.34%	22.59%
NOPAT Margin
Avg YoY	-23.05%	-9.38%	13.84%	10.31%	15.97%
Slope	-25.89%	-10.57%	7.25%	6.73%	7.58%
CAGR	-23.05%	-10.50%	4.61%	3.96%	4.66%
LSR	-23.05%	-11.02%	10.10%	7.20%	9.15%
Owner's Earnings
Avg YoY	-24.11%	-0.61%	36.66%	28.26%	73.58%
Slope	-29.87%	-5.64%	15.25%	15.55%	14.88%
CAGR	-25.06%	-8.29%	18.45%	13.90%	14.02%
LSR	-25.06%	-5.74%	26.58%	21.04%	25.86%
Owner's Earnings Margin
Avg YoY	-18.71%	-2.89%	26.72%	15.14%	58.43%
Slope	-20.96%	-5.76%	10.14%	7.29%	6.46%
CAGR	-18.79%	-9.24%	10.79%	2.54%	2.54%
LSR	-18.79%	-5.28%	16.03%	7.82%	12.07%
EPS (Basic)
Avg YoY	-16.89%	5.14%	41.02%	33.85%	100.01%
Slope	-25.02%	-2.66%	15.23%	15.58%	15.45%
CAGR	-20.61%	-3.79%	15.45%	15.77%	17.60%
LSR	-20.61%	-2.64%	25.49%	21.02%	—
EPS (Diluted)
Avg YoY	-16.88%	5.17%	40.99%	33.85%	97.03%
Slope	-25.00%	-2.64%	15.25%	15.61%	15.49%
CAGR	-20.59%	-3.77%	15.47%	15.84%	17.60%
LSR	-20.59%	-2.62%	25.51%	21.07%	—
Shares (Basic)
Avg YoY	-10.99%	-5.48%	-2.74%	-2.73%	-1.25%
Slope	-11.86%	-4.58%	-1.47%	-1.72%	-1.15%
CAGR	-11.68%	-6.00%	-3.02%	-2.94%	-1.44%
LSR	-11.68%	-4.82%	-1.58%	-1.74%	-1.18%
Shares (Diluted)
Avg YoY	-11.01%	-5.50%	-2.76%	-2.80%	-1.23%
Slope	-11.89%	-4.60%	-1.48%	-1.77%	-1.29%
CAGR	-11.70%	-6.02%	-3.03%	-3.00%	-1.44%
LSR	-11.70%	-4.85%	-1.59%	-1.78%	-1.32%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Cash & Cash Equivalents
Avg YoY	-11.59%	10.67%	19.39%	14.45%	19.63%
Slope	-13.42%	7.99%	17.68%	14.21%	12.59%
CAGR	-13.50%	7.22%	15.64%	11.67%	14.87%
LSR	-13.50%	9.27%	22.73%	15.28%	13.83%
Cash & Short-Term Investments
Avg YoY	-11.59%	10.67%	19.39%	14.45%	19.63%
Slope	-13.42%	7.99%	17.68%	14.21%	12.59%
CAGR	-13.50%	7.22%	15.64%	11.67%	14.87%
LSR	-13.50%	9.27%	22.73%	15.28%	13.83%
Net Receivables
Avg YoY	15.61%	16.98%	9.79%	-21.58%	-20.28%
Slope	11.94%	7.46%	26.08%	19.81%	15.40%
CAGR	11.68%	13.37%	—	11.69%	14.67%
LSR	11.68%	7.83%	—	—	—
Inventory
Avg YoY	-100.00%	-57.92%	207.29%	150.45%	150.45%
Slope	-150.00%	-97.84%	-33.82%	-14.94%	-0.87%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Current Assets
Avg YoY	-50.30%	42.74%	67.76%	56.85%	67.76%
Slope	-65.99%	-4.80%	22.67%	20.46%	10.68%
CAGR	-63.29%	-14.30%	17.07%	10.13%	4.55%
LSR	-63.29%	-12.32%	33.51%	24.89%	9.33%
Total Current Assets
Avg YoY	-9.09%	10.36%	22.47%	15.83%	19.29%
Slope	-9.74%	7.01%	19.32%	14.97%	12.83%
CAGR	-9.63%	8.09%	18.65%	11.66%	14.51%
LSR	-9.63%	8.30%	27.11%	16.19%	13.52%
Property, Plant & Equipment
Avg YoY	20.81%	4.70%	59.89%	34.67%	22.77%
Slope	15.18%	-1.94%	0.63%	7.52%	3.55%
CAGR	14.85%	0.86%	20.52%	7.51%	1.96%
LSR	14.85%	-2.40%	4.99%	10.33%	3.58%
Goodwill
Avg YoY	19.94%	-17.78%	28.38%	28.38%	15.55%
Slope	-3.09%	-58.77%	-18.22%	5.34%	8.38%
CAGR	-2.56%	-38.69%	-22.29%	—	-5.06%
LSR	-2.56%	-39.42%	-24.12%	—	—
Intangible Assets
Avg YoY	10.45%	-13.24%	29.03%	30.97%	27.73%
Slope	8.47%	-30.71%	4.63%	11.74%	9.27%
CAGR	8.30%	-23.35%	9.08%	16.80%	9.21%
LSR	8.30%	-20.51%	6.53%	17.94%	10.87%
Long-Term Investments
Avg YoY	18.96%	17.45%	5.65%	23.30%	417.33%
Slope	14.82%	12.67%	-7.08%	3.78%	7.64%
CAGR	14.68%	11.99%	-1.45%	14.82%	31.87%
LSR	14.68%	12.80%	-6.50%	8.10%	21.14%
Tax Assets
Avg YoY	-100.00%	-29.36%	9.21%	41.79%	77.57%
Slope	-32.11%	-19.98%	3.06%	2.31%	7.96%
CAGR	-19.54%	-8.42%	8.14%	-0.51%	—
LSR	—	—	—	—	—
Other Non-Current Assets
Avg YoY	61.17%	56.74%	303.43%	188.21%	143.87%
Slope	38.03%	25.06%	-15.88%	-12.72%	-9.39%
CAGR	39.79%	21.27%	20.35%	-6.17%	-2.56%
LSR	39.79%	25.82%	-0.86%	-13.17%	-12.21%
Other Assets
Avg YoY	60.50%	6,279.78%	2,798.63%	2,104.03%	2,104.03%
Slope	46.34%	55.02%	43.56%	32.61%	25.83%
CAGR	60.15%	498.38%	129.39%	—	—
LSR	60.15%	366.97%	179.58%	—	—
Total Non-Current Assets
Avg YoY	14.94%	-5.52%	10.67%	20.84%	15.24%
Slope	10.31%	-18.65%	-3.33%	6.93%	7.26%
CAGR	9.90%	-15.06%	-0.44%	11.71%	6.69%
LSR	9.90%	-13.36%	-3.88%	10.58%	8.69%
Total Assets
Avg YoY	-7.85%	5.08%	16.85%	14.27%	16.11%
Slope	-8.25%	4.47%	15.81%	13.73%	11.94%
CAGR	-8.14%	4.11%	14.45%	11.67%	13.02%
LSR	-8.14%	4.89%	20.28%	15.43%	12.90%
Accounts Payable
Avg YoY	17.37%	8.62%	7.98%	10.32%	19.41%
Slope	13.70%	3.19%	5.60%	7.75%	9.08%
CAGR	13.54%	6.28%	6.34%	6.54%	14.87%
LSR	13.54%	2.66%	5.88%	9.16%	12.63%
Tax Payables
Avg YoY	55.71%	27.98%	93.55%	74.66%	144.25%
Slope	-45.38%	-24.59%	8.36%	12.15%	14.28%
CAGR	-29.55%	-16.10%	8.12%	15.21%	—
LSR	-29.55%	-26.69%	14.31%	15.58%	—
Deferred Revenue
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%
Slope	0.00%	50.00%	42.42%	32.14%	25.56%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Current Liabilities
Avg YoY	24.60%	11.08%	114.01%	140.09%	96.01%
Slope	6.18%	-2.74%	14.23%	12.65%	12.69%
CAGR	5.40%	1.21%	44.67%	32.08%	11.89%
LSR	5.40%	-3.80%	26.95%	20.01%	17.83%
Total Current Liabilities
Avg YoY	13.22%	5.80%	18.71%	16.14%	16.11%
Slope	3.44%	-2.81%	10.32%	10.73%	11.44%
CAGR	3.08%	0.68%	15.38%	13.15%	13.42%
LSR	3.08%	-3.37%	12.86%	12.71%	14.91%
Deferred Tax Liabilities
Avg YoY	-100.00%	-70.34%	25.65%	25.65%	25.65%
Slope	0.00%	-69.15%	-0.80%	13.04%	14.84%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Non-Current Liabilities
Avg YoY	50.61%	82.33%	-92.19%	-62.99%	-48.21%
Slope	3.83%	25.04%	5.33%	-6.93%	-7.35%
CAGR	5.83%	36.14%	-0.40%	-4.28%	-5.03%
LSR	5.83%	39.39%	—	—	—
Total Non-Current Liabilities
Avg YoY	63.78%	18.06%	32.41%	17.11%	10.80%
Slope	3.59%	-18.95%	1.87%	0.68%	-1.45%
CAGR	5.83%	-21.84%	-0.40%	-4.28%	-5.03%
LSR	5.83%	-19.41%	0.94%	-0.57%	-2.21%
Total Liabilities
Avg YoY	12.05%	4.83%	18.21%	15.35%	14.59%
Slope	3.44%	-3.12%	10.14%	10.48%	11.00%
CAGR	3.10%	0.31%	15.08%	12.53%	12.14%
LSR	3.10%	-3.59%	12.61%	12.28%	13.77%
Common Stock
Avg YoY	14.12%	7.05%	3.45%	3.35%	6.78%
Slope	12.91%	5.34%	1.74%	1.83%	2.22%
CAGR	13.25%	6.40%	3.12%	3.11%	5.44%
LSR	13.25%	5.09%	1.62%	1.82%	2.44%
Retained Earnings
Avg YoY	23.26%	22.85%	26.40%	25.43%	27.54%
Slope	20.86%	19.64%	21.47%	19.28%	17.27%
CAGR	22.45%	22.35%	25.63%	24.90%	25.09%
LSR	22.45%	21.62%	27.37%	25.03%	23.86%
Accumulated OCI
Avg YoY	5.40%	16.12%	32.88%	32.63%	32.63%
Slope	4.99%	13.70%	14.69%	18.00%	17.63%
CAGR	4.97%	12.78%	25.08%	—	—
LSR	4.97%	15.22%	19.06%	—	—
Minority Interest
Avg YoY	—	—	—	—	-67.57%
Slope	—	—	—	—	-27.39%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	22.27%	21.08%	21.84%	19.20%	19.95%
Slope	20.04%	18.28%	18.85%	16.41%	14.36%
CAGR	21.45%	20.58%	21.34%	18.83%	18.42%
LSR	21.45%	19.84%	22.37%	18.94%	16.44%
Total Equity
Avg YoY	22.27%	21.08%	21.84%	19.20%	19.90%
Slope	20.04%	18.28%	18.85%	16.41%	14.36%
CAGR	21.45%	20.58%	21.34%	18.83%	18.38%
LSR	21.45%	19.84%	22.37%	18.94%	16.43%
Total Liabilities & Equity
Avg YoY	18.29%	14.93%	20.21%	17.43%	17.02%
Slope	15.84%	11.99%	16.05%	14.41%	13.22%
CAGR	16.17%	13.79%	19.51%	16.79%	16.17%
LSR	16.17%	12.15%	19.22%	16.64%	15.53%
Tangible Assets
Avg YoY	-8.36%	10.01%	18.89%	14.23%	17.45%
Slope	-8.85%	7.02%	17.52%	14.05%	12.21%
CAGR	-8.74%	8.08%	16.60%	11.47%	14.00%
LSR	-8.74%	8.24%	22.93%	15.27%	13.07%
Tangible Equity
Avg YoY	22.91%	29.97%	26.42%	20.08%	24.28%
Slope	20.60%	22.83%	21.58%	17.20%	15.06%
CAGR	22.17%	29.28%	25.26%	18.89%	21.23%
LSR	22.17%	27.12%	26.34%	18.81%	17.39%
Tangible Book Value
Avg YoY	22.91%	29.97%	26.42%	20.08%	24.28%
Slope	20.60%	22.83%	21.58%	17.20%	15.06%
CAGR	22.17%	29.28%	25.26%	18.89%	21.23%
LSR	22.17%	27.12%	26.34%	18.81%	17.39%
Total Investments
Avg YoY	18.96%	17.45%	5.65%	23.30%	417.33%
Slope	14.82%	12.67%	-7.08%	3.78%	7.64%
CAGR	14.68%	11.99%	-1.45%	14.82%	31.87%
LSR	14.68%	12.80%	-6.50%	8.10%	21.14%
Net Debt
Avg YoY	-11.59%	10.67%	19.39%	14.45%	19.63%
Slope	13.42%	-7.99%	-17.68%	-14.21%	-12.59%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Working Capital
Avg YoY	-10.83%	13.05%	21.08%	14.62%	23.19%
Slope	-13.24%	8.98%	18.60%	14.76%	12.63%
CAGR	-13.52%	8.69%	16.55%	11.20%	15.75%
LSR	-13.52%	10.69%	24.32%	15.74%	13.56%
Total Capital
Avg YoY	-9.34%	4.96%	13.26%	12.76%	17.09%
Slope	-10.86%	5.23%	14.07%	13.28%	11.88%
CAGR	-11.00%	2.95%	11.74%	11.56%	13.92%
LSR	-11.00%	5.52%	16.85%	15.21%	13.45%
Capital Employed
Avg YoY	-9.28%	4.67%	13.11%	12.44%	15.66%
Slope	-10.79%	5.06%	13.91%	13.09%	11.62%
CAGR	-10.93%	2.70%	11.63%	11.28%	13.07%
LSR	-10.93%	5.31%	16.61%	14.90%	12.95%
Invested Capital
Avg YoY	48.09%	-2.90%	16.94%	152.80%	115.52%
Slope	38.41%	-26.58%	-7.77%	7.21%	7.44%
CAGR	48.08%	-19.16%	-3.90%	10.40%	8.39%
LSR	48.08%	-16.80%	-9.36%	18.53%	10.00%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Net Income
Avg YoY	-25.72%	-2.93%	31.38%	30.28%	131.04%
Slope	-45.42%	-13.37%	12.04%	14.03%	14.75%
CAGR	-33.66%	-12.54%	10.01%	15.40%	17.60%
LSR	-33.66%	-14.31%	19.51%	19.32%	31.47%
Depreciation & Amortization
Avg YoY	9.34%	-11.96%	23.82%	20.93%	13.00%
Slope	8.86%	-19.93%	6.26%	12.28%	9.22%
CAGR	9.05%	-14.99%	12.12%	12.31%	5.67%
LSR	9.05%	-16.61%	8.33%	17.41%	9.62%
Deferred Income Tax
Avg YoY	—	—	100.00%	49.07%	49.07%
Slope	—	—	54.55%	16.43%	1.71%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Stock-Based Compensation
Avg YoY	74.27%	74.27%	16.18%	-14.68%	-14.68%
Slope	38.37%	62.79%	34.19%	6.83%	11.35%
CAGR	38.70%	—	17.20%	8.79%	—
LSR	38.70%	—	—	—	—
Change in Working Capital
Avg YoY	-43.03%	-83.49%	-23.19%	-68.13%	-50.66%
Slope	-160.60%	102.29%	74.88%	-15.95%	6.30%
CAGR	—	—	11.11%	—	—
LSR	—	—	—	—	—
Accounts Receivable
Avg YoY	-65.26%	4.02%	-21.07%	-41.28%	-41.28%
Slope	-222.43%	247.29%	24.20%	2.71%	-6.00%
CAGR	—	10.72%	4.24%	—	—
LSR	—	—	—	—	—
Inventory
Avg YoY	-100.00%	-5.56%	-25.56%	-25.56%	-25.56%
Slope	-150.00%	180.44%	9.42%	-9.23%	-12.70%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Accounts Payable
Avg YoY	102.76%	20.90%	134.60%	134.60%	134.60%
Slope	702.68%	15.91%	5.43%	15.79%	16.39%
CAGR	—	37.16%	—	—	—
LSR	—	—	—	—	—
Other Working Capital
Avg YoY	-16.67%	-11.07%	294.40%	265.61%	265.61%
Slope	-430.85%	-137.06%	-18.88%	3.20%	9.31%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Non-Cash Items
Avg YoY	100.37%	-142.44%	-163.14%	-146.08%	-103.21%
Slope	153.20%	30.85%	-12.19%	-16.19%	-18.74%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	-10.75%	-1.12%	26.40%	19.57%	21.02%
Slope	-23.81%	-9.26%	13.31%	14.73%	14.16%
CAGR	-19.05%	-6.85%	18.14%	14.06%	11.01%
LSR	-19.05%	-9.53%	20.23%	19.25%	19.06%
Capital Expenditures (PPE)
Avg YoY	-69.97%	-19.78%	-55.66%	-44.13%	-44.58%
Slope	69.18%	49.29%	8.16%	-4.34%	-6.30%
CAGR	-41.99%	-37.07%	-3.44%	3.84%	-1.26%
LSR	-41.99%	-46.06%	-13.26%	3.32%	6.08%
Acquisitions (Net)
Avg YoY	—	100.00%	11.89%	-100.96%	-78.63%
Slope	-150.00%	51.62%	18.22%	-5.91%	-10.78%
CAGR	—	-24.84%	-19.05%	—	—
LSR	—	—	—	—	—
Purchases of Investments
Avg YoY	-1,212.42%	-774.95%	-288.93%	-237.00%	-206.36%
Slope	-75.81%	-56.77%	1.37%	-1.25%	-4.79%
CAGR	77.97%	58.18%	9.45%	—	—
LSR	77.97%	—	—	—	—
Sales / Maturities of Investments
Avg YoY	—	100.00%	1,288.78%	1,123.11%	970.22%
Slope	150.00%	106.73%	-120.12%	-34.17%	-16.00%
CAGR	—	—	-14.00%	—	—
LSR	—	—	—	—	—
Other Investing Activities
Avg YoY	-490.20%	-276.21%	-117.09%	-2,442.05%	-1,701.94%
Slope	-94.96%	-412.15%	-63.36%	-8.75%	48.89%
CAGR	—	—	—	—	2.13%
LSR	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-67.41%	-302.78%	-163.48%	-137.34%	-95.98%
Slope	-48.33%	2.80%	6.12%	-6.71%	-6.60%
CAGR	57.29%	-6.87%	-3.07%	20.98%	3.90%
LSR	57.29%	—	—	—	—
Net Debt Issuance
Avg YoY	—	—	100.00%	100.00%	100.00%
Slope	-150.00%	-100.00%	8.55%	-9.61%	-12.92%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	—	—	100.00%	100.00%	100.00%
Slope	-150.00%	-100.00%	8.55%	-9.61%	-12.92%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Stock Issuance
Avg YoY	-709,401.74%	-354,675.88%	-158,054.31%	-102,794.54%	-75,375.41%
Slope	-150.10%	-100.10%	-52.49%	-33.48%	-33.86%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Common Stock Issuance
Avg YoY	-87.50%	-18.76%	5,293.06%	3,454.97%	2,913.71%
Slope	-120.00%	-31.82%	-20.12%	-3.72%	-23.94%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Common Stock Repurchased
Avg YoY	—	—	63.55%	70.84%	70.84%
Slope	-150.00%	-100.00%	-52.18%	-33.23%	-26.18%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Preferred Stock Issuance
Avg YoY	—	—	100.00%	100.00%	100.00%
Slope	—	—	30.30%	0.00%	-7.52%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Dividends Paid
Avg YoY	-3.77%	-13.64%	-34.92%	-54.93%	-54.93%
Slope	-3.71%	-11.76%	-21.03%	-19.42%	-18.42%
CAGR	3.75%	13.18%	21.48%	—	—
LSR	3.75%	13.23%	30.82%	—	—
Common Dividends Paid
Avg YoY	-3.77%	-13.64%	-34.92%	-54.93%	-54.93%
Slope	-3.71%	-11.76%	-21.03%	-19.42%	-18.42%
CAGR	3.75%	13.18%	21.48%	—	—
LSR	3.75%	13.23%	30.82%	—	—
Other Financing Activities
Avg YoY	46.45%	10.83%	-3,826.20%	-2,869.45%	-2,869.45%
Slope	60.04%	15.01%	-147.28%	-55.45%	-23.61%
CAGR	-57.20%	-27.65%	—	—	—
LSR	-57.20%	-23.99%	—	—	—
Net Cash from Financing Activities
Avg YoY	-410.42%	-216.95%	-121.30%	-263.51%	173.78%
Slope	-110.13%	-68.70%	-39.69%	-27.67%	-26.96%
CAGR	205.43%	94.16%	54.69%	—	—
LSR	205.43%	74.38%	41.35%	—	—
Effect of FX on Cash
Avg YoY	100.00%	100.00%	-88.57%	18.19%	-12.67%
Slope	-18.56%	-56.12%	11.74%	-12.99%	-5.45%
CAGR	13.25%	498.38%	14.18%	14.16%	—
LSR	—	—	—	—	—
Net Change in Cash
Avg YoY	-549.08%	-267.18%	273.39%	148.98%	214.51%
Slope	-398.22%	-1,506.06%	-99.66%	-30.65%	-14.19%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	33.53%	36.99%	24.61%	20.42%	27.63%
Slope	28.72%	29.22%	22.37%	16.27%	14.19%
CAGR	33.49%	36.89%	22.01%	18.51%	22.88%
LSR	33.49%	36.08%	25.15%	16.09%	16.15%
Cash at End of Period
Avg YoY	-11.59%	10.67%	19.39%	14.45%	19.63%
Slope	-13.42%	7.99%	17.68%	14.21%	12.59%
CAGR	-13.50%	7.22%	15.64%	11.67%	14.87%
LSR	-13.50%	9.27%	22.73%	15.28%	13.83%
Operating Cash Flow
Avg YoY	-10.75%	-1.12%	26.40%	19.57%	21.02%
Slope	-23.81%	-9.26%	13.31%	14.73%	14.16%
CAGR	-19.05%	-6.85%	18.14%	14.06%	11.01%
LSR	-19.05%	-9.53%	20.23%	19.25%	19.06%
Capital Expenditure
Avg YoY	24.46%	27.44%	-34.67%	-30.64%	-34.63%
Slope	38.64%	30.23%	3.38%	-6.59%	-7.70%
CAGR	-41.99%	-37.07%	-3.44%	3.84%	-1.26%
LSR	-41.99%	-30.76%	-3.57%	9.00%	9.52%
Free Cash Flow
Avg YoY	-5.79%	3.51%	86.54%	57.76%	99.07%
Slope	-22.86%	-7.48%	15.41%	15.81%	15.09%
CAGR	-18.01%	-4.33%	20.10%	14.68%	12.48%
LSR	-18.01%	-8.03%	28.92%	20.90%	22.46%

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
EBITDA
Avg YoY	-15.65%	-2.91%	20.81%	14.73%	40.57%
Slope	-20.87%	-7.97%	13.44%	12.28%	11.29%
CAGR	-17.80%	-5.17%	14.99%	6.54%	14.61%
LSR	-17.80%	-8.12%	19.85%	14.42%	14.40%
(-) Tax Adjustment
Avg YoY	-16.23%	-3.61%	18.82%	57.53%	63.44%
Slope	-19.84%	-9.51%	12.72%	13.39%	12.58%
CAGR	-17.29%	-6.08%	13.28%	20.94%	21.72%
LSR	-17.29%	-9.49%	18.34%	18.86%	—
Change In Working Capital
Avg YoY	-43.03%	-83.49%	-23.19%	-68.13%	-50.66%
Slope	-160.60%	102.29%	74.88%	-15.95%	6.30%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Capital Expenditure
Avg YoY	24.46%	27.44%	-34.67%	-30.64%	-34.63%
Slope	38.64%	30.23%	3.38%	-6.59%	-7.70%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	15.12%	13.28%	121.68%	98.78%	112.36%
Slope	-8.34%	-6.84%	14.67%	12.47%	10.93%
CAGR	-6.75%	0.88%	16.55%	5.40%	16.38%
LSR	-6.75%	-7.60%	—	—	—
Net Interest After Taxes
Avg YoY	—	-67.52%	43.96%	43.96%	3.81%
Slope	—	-80.31%	8.44%	17.12%	13.25%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Debt Issuance
Avg YoY	—	—	100.00%	100.00%	100.00%
Slope	-150.00%	-100.00%	8.55%	-9.61%	-12.92%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	14.96%	13.40%	113.95%	93.81%	109.05%
Slope	-8.44%	-6.71%	14.70%	12.47%	10.93%
CAGR	-6.83%	1.01%	16.53%	5.39%	16.37%
LSR	-6.83%	-7.47%	—	—	—