A.P. Møller - Mærsk A/S (DP4B.DE)

Analysis: Growth Rates Industry: Marine Shipping Sector: Industrials Live Price: $1,998.00

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Stock Price
Avg YoY	-12.14%	19.19%	11.05%	-0.63%	1.04%
Slope	-13.88%	-6.30%	7.08%	-13.90%	-9.88%
CAGR	-12.60%	3.45%	3.81%	-11.31%	-8.38%
LSR	-12.60%	-4.20%	7.27%	-11.39%	-10.65%
Market Capitalization
Avg YoY	-12.16%	19.06%	11.01%	-0.65%	1.02%
Slope	-13.88%	-6.32%	7.10%	-13.92%	-9.89%
CAGR	-12.61%	3.39%	3.77%	-11.32%	-8.40%
LSR	-12.61%	-4.23%	7.30%	-11.40%	-10.67%
(-) Cash & Equivalents
Avg YoY	-11.45%	18.29%	17.84%	12.90%	15.33%
Slope	-14.65%	0.31%	13.89%	10.90%	7.45%
CAGR	-12.96%	8.67%	9.29%	5.56%	5.31%
LSR	-12.96%	2.25%	16.46%	10.97%	6.58%
(+) Total Debt
Avg YoY	10.78%	7.65%	8.36%	3.42%	3.65%
Slope	10.19%	6.86%	4.37%	1.15%	-0.29%
CAGR	10.49%	7.46%	6.44%	1.68%	2.07%
LSR	10.49%	6.89%	4.52%	1.13%	-0.29%
Enterprise Value
Avg YoY	-3.66%	12.16%	8.06%	-2.32%	-0.47%
Slope	-4.15%	-2.95%	5.10%	-12.60%	-9.16%
CAGR	-3.97%	4.24%	4.07%	-9.72%	-7.14%
LSR	-3.97%	-1.70%	5.25%	-10.30%	-9.57%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Revenue
Avg YoY	-14.36%	14.68%	6.88%	2.30%	5.01%
Slope	-20.77%	3.58%	7.26%	0.68%	0.55%
CAGR	-17.51%	8.70%	3.61%	-0.10%	2.75%
LSR	-17.51%	4.88%	7.33%	0.43%	0.39%
Cost of Revenue
Avg YoY	-1.55%	8.53%	3.67%	36.73%	34.70%
Slope	-1.69%	6.92%	4.35%	4.77%	9.79%
CAGR	-1.65%	8.00%	2.73%	12.79%	—
LSR	-1.65%	7.60%	4.38%	8.09%	—
Gross Profit
Avg YoY	-4.51%	109.71%	109.13%	57.39%	44.91%
Slope	-86.91%	-7.72%	23.62%	-11.21%	-11.70%
CAGR	-53.00%	14.36%	13.54%	-12.82%	-7.91%
LSR	-53.00%	-5.43%	40.37%	-7.31%	-14.41%
Gross Margin
Avg YoY	-7.93%	54.74%	88.19%	46.09%	33.13%
Slope	-66.55%	-9.88%	20.04%	-13.03%	-13.45%
CAGR	-43.02%	5.21%	9.58%	-12.74%	-10.38%
LSR	-43.02%	-9.83%	30.79%	-7.70%	-14.74%
SG&A Expenses
Avg YoY	—	—	-100.00%	-52.01%	-32.91%
Slope	—	—	-54.55%	-28.52%	-22.28%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Operating Expenses
Avg YoY	215.94%	133.13%	90.05%	51.37%	39.99%
Slope	8.72%	34.12%	15.00%	-28.69%	-17.99%
CAGR	22.41%	30.27%	-1.80%	-23.02%	-16.28%
LSR	22.41%	46.78%	—	—	—
Operating Income (EBIT)
Avg YoY	-27.21%	104.30%	31.62%	12.08%	18.47%
Slope	-90.83%	-8.33%	24.55%	5.11%	2.87%
CAGR	-56.32%	11.65%	13.75%	-3.54%	0.82%
LSR	-56.32%	-5.66%	—	—	—
Operating Margin
Avg YoY	-28.08%	48.51%	-0.06%	-6.66%	0.29%
Slope	-71.36%	-10.42%	21.75%	2.75%	0.54%
CAGR	-47.06%	2.72%	9.78%	-3.45%	-1.89%
LSR	-47.06%	-10.05%	—	—	—
Interest Income
Avg YoY	84.02%	222.26%	100.05%	56.65%	48.13%
Slope	36.79%	56.65%	34.55%	8.62%	2.26%
CAGR	59.56%	104.88%	35.94%	5.40%	7.63%
LSR	59.56%	142.99%	34.61%	3.47%	-3.00%
Interest Expense
Avg YoY	8.50%	2.23%	7.54%	-1.57%	5.15%
Slope	8.07%	1.14%	4.07%	-3.06%	-2.83%
CAGR	8.21%	1.90%	6.69%	-3.47%	2.04%
LSR	8.21%	1.04%	4.62%	-2.03%	-2.24%
Net Interest Income
Avg YoY	-140.59%	-84.81%	-30.09%	-24.39%	-9.33%
Slope	259.39%	130.10%	19.21%	10.28%	5.77%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Income / Expense
Avg YoY	111.34%	58.36%	33.79%	24.37%	-67.81%
Slope	7,272.00%	109.41%	16.56%	6.64%	0.87%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unusual Items
Avg YoY	111.34%	58.36%	33.79%	24.37%	-67.81%
Slope	-7,272.00%	-109.41%	-16.56%	-6.64%	-0.87%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
EBT excl. Unusual
Avg YoY	-6.43%	201.20%	-9.73%	-16.95%	29.73%
Slope	-76.13%	-0.56%	34.16%	7.62%	3.18%
CAGR	-47.75%	40.76%	33.30%	-0.61%	2.39%
LSR	-47.75%	15.34%	—	—	—
Pre-Tax Income
Avg YoY	-14.66%	124.62%	181.95%	107.83%	92.00%
Slope	-84.82%	-5.79%	27.26%	5.59%	2.62%
CAGR	-52.52%	19.82%	18.79%	-2.49%	1.39%
LSR	-52.52%	-0.11%	—	—	—
Pre-Tax Margin
Avg YoY	-16.57%	63.36%	131.24%	76.84%	64.20%
Slope	-64.23%	-7.17%	26.10%	3.24%	0.09%
CAGR	-42.44%	10.23%	14.65%	-2.39%	-1.32%
LSR	-42.44%	-4.76%	—	—	—
Income Tax Expense
Avg YoY	-10.74%	20.08%	20.76%	5.22%	10.17%
Slope	-25.10%	1.82%	0.74%	-19.02%	-11.43%
CAGR	-19.89%	9.45%	1.25%	-13.80%	-6.51%
LSR	-19.89%	2.98%	2.39%	-16.29%	-13.76%
Net Income
Avg YoY	-13.54%	141.30%	21.69%	9.18%	-30.14%
Slope	-88.51%	-6.34%	28.39%	12.68%	9.64%
CAGR	-54.26%	21.00%	25.50%	1.39%	3.45%
LSR	-54.26%	-0.21%	—	—	—
Net Margin
Avg YoY	-15.99%	74.06%	-6.18%	-7.26%	-42.40%
Slope	-68.50%	-7.66%	28.76%	10.71%	7.10%
CAGR	-44.55%	11.31%	21.12%	1.49%	0.68%
LSR	-44.55%	-4.86%	—	—	—
Depreciation & Amortization
Avg YoY	-0.06%	8.47%	1.33%	3.65%	7.37%
Slope	-0.06%	8.13%	-0.24%	-0.42%	1.17%
CAGR	-0.06%	8.00%	-2.75%	0.17%	4.22%
LSR	-0.06%	8.85%	0.92%	-0.42%	1.32%
EBITDA
Avg YoY	-29.33%	46.82%	23.63%	12.10%	14.41%
Slope	-62.87%	-3.38%	13.75%	2.75%	2.15%
CAGR	-43.06%	9.72%	2.39%	-1.92%	2.27%
LSR	-43.06%	-0.83%	14.58%	0.55%	0.40%
EBITDA Margin
Avg YoY	-25.21%	13.46%	8.07%	4.31%	5.01%
Slope	-40.55%	-5.71%	6.63%	0.96%	0.73%
CAGR	-30.97%	0.94%	-1.18%	-1.82%	-0.47%
LSR	-30.97%	-5.44%	6.75%	0.12%	0.01%
NOPAT
Avg YoY	-27.21%	104.30%	31.62%	12.08%	18.47%
Slope	-90.83%	-8.33%	24.55%	5.11%	2.87%
CAGR	-56.32%	11.65%	13.75%	-3.54%	0.82%
LSR	-56.32%	-5.66%	—	—	—
NOPAT Margin
Avg YoY	-28.08%	48.51%	-0.06%	-6.66%	0.29%
Slope	-71.36%	-10.42%	21.75%	2.75%	0.54%
CAGR	-47.06%	2.72%	9.78%	-3.45%	-1.89%
LSR	-47.06%	-10.05%	—	—	—
Owner's Earnings
Avg YoY	-26.69%	57.87%	-33.66%	-18.14%	-25.19%
Slope	-75.90%	-6.60%	24.12%	16.83%	20.34%
CAGR	-49.11%	7.44%	19.70%	2.73%	9.82%
LSR	-49.11%	-5.44%	—	—	—
Owner's Earnings Margin
Avg YoY	-25.58%	19.67%	-48.62%	-24.11%	-28.50%
Slope	-54.38%	-9.32%	21.50%	15.07%	19.19%
CAGR	-38.31%	-1.16%	15.52%	2.83%	6.87%
LSR	-38.31%	-9.84%	—	—	—
EPS (Basic)
Avg YoY	-7.41%	150.82%	27.43%	12.90%	-26.40%
Slope	-82.08%	-3.46%	29.18%	14.66%	10.95%
CAGR	-50.76%	27.86%	29.86%	3.79%	4.92%
LSR	-50.76%	5.59%	—	—	—
EPS (Diluted)
Avg YoY	-7.53%	150.42%	27.76%	13.11%	-26.23%
Slope	-82.07%	-3.46%	29.14%	14.63%	10.92%
CAGR	-50.76%	27.79%	29.82%	3.76%	4.90%
LSR	-50.76%	5.56%	—	—	—
Shares (Basic)
Avg YoY	-7.11%	-5.34%	-3.32%	-2.27%	-1.35%
Slope	-7.39%	-5.58%	-2.97%	-1.94%	-0.94%
CAGR	-7.11%	-5.36%	-3.36%	-2.30%	-1.40%
LSR	-7.11%	-5.49%	-3.02%	-2.00%	-1.00%
Shares (Diluted)
Avg YoY	-7.11%	-5.29%	-3.29%	-2.25%	-1.34%
Slope	-7.39%	-5.55%	-3.00%	-1.92%	-0.92%
CAGR	-7.11%	-5.31%	-3.32%	-2.29%	-1.38%
LSR	-7.11%	-5.47%	-3.05%	-1.99%	-0.98%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Cash & Cash Equivalents
Avg YoY	-11.45%	18.29%	17.84%	12.90%	15.33%
Slope	-14.65%	0.31%	13.89%	10.90%	7.45%
CAGR	-12.96%	8.67%	9.29%	5.56%	5.31%
LSR	-12.96%	2.25%	16.46%	10.97%	6.58%
Short-Term Investments
Avg YoY	-100.00%	10,939.65%	34,636.31%	21,320.99%	15,393.91%
Slope	48.09%	65.86%	9.19%	7.24%	-8.26%
CAGR	39.42%	565.84%	12.19%	10.87%	-0.73%
LSR	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	-1.95%	25.12%	22.89%	16.40%	15.22%
Slope	-8.38%	4.40%	13.47%	10.55%	4.93%
CAGR	-7.30%	14.68%	9.79%	6.32%	3.46%
LSR	-7.30%	6.74%	15.66%	10.60%	4.33%
Net Receivables
Avg YoY	2,491.11%	1,318.18%	587.31%	452.90%	646.81%
Slope	3.24%	25.56%	20.82%	13.59%	10.26%
CAGR	2.21%	58.29%	24.26%	12.61%	31.48%
LSR	2.21%	6.56%	9.02%	8.33%	10.73%
Inventory
Avg YoY	7.65%	18.25%	13.51%	4.31%	7.12%
Slope	7.17%	14.16%	11.37%	0.75%	0.23%
CAGR	7.55%	17.38%	12.03%	1.26%	4.08%
LSR	7.55%	16.61%	12.39%	0.97%	0.16%
Other Current Assets
Avg YoY	-54.31%	37.44%	38.76%	50.02%	72.76%
Slope	-76.53%	2.33%	8.10%	8.50%	8.88%
CAGR	-84.14%	-39.71%	-18.46%	-3.65%	-10.39%
LSR	-84.14%	-28.41%	-1.87%	6.62%	9.01%
Total Current Assets
Avg YoY	-15.39%	44.09%	25.51%	18.55%	14.69%
Slope	-28.32%	11.78%	13.66%	10.14%	7.76%
CAGR	-22.43%	25.38%	13.23%	8.90%	6.73%
LSR	-22.43%	19.06%	14.78%	9.76%	6.88%
Property, Plant & Equipment
Avg YoY	7.15%	9.32%	1.95%	1.55%	4.37%
Slope	6.88%	8.16%	2.01%	-0.27%	0.65%
CAGR	7.00%	9.22%	1.25%	1.03%	3.70%
LSR	7.00%	8.59%	2.00%	-0.34%	0.78%
Goodwill
Avg YoY	6.88%	81.96%	87.57%	56.79%	56.79%
Slope	6.63%	37.07%	33.00%	25.66%	21.92%
CAGR	6.88%	60.24%	62.71%	—	—
LSR	6.88%	66.42%	56.51%	—	—
Intangible Assets
Avg YoY	11.57%	10.64%	26.10%	17.64%	10.17%
Slope	2.73%	3.14%	13.32%	7.90%	5.61%
CAGR	2.45%	5.59%	20.48%	10.07%	4.08%
LSR	2.45%	2.55%	17.25%	8.15%	5.10%
Long-Term Investments
Avg YoY	-6.77%	-9.19%	-4.25%	-3.01%	-0.38%
Slope	-28.89%	-18.49%	-4.64%	-9.62%	-5.32%
CAGR	-35.35%	-27.17%	-13.47%	-12.75%	-8.18%
LSR	-35.35%	-23.30%	-7.16%	-9.70%	-6.40%
Tax Assets
Avg YoY	223.43%	127.71%	46.47%	31.64%	37.50%
Slope	1.08%	32.69%	12.23%	3.19%	1.18%
CAGR	2.96%	16.21%	-6.33%	-4.17%	4.46%
LSR	2.96%	37.71%	5.58%	-1.56%	-1.28%
Other Non-Current Assets
Avg YoY	80.42%	121.13%	47.17%	39.86%	38.60%
Slope	38.36%	48.82%	17.70%	11.45%	8.58%
CAGR	60.87%	55.42%	12.13%	16.09%	13.55%
LSR	60.87%	83.17%	11.88%	7.83%	6.33%
Other Assets
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	—	—	—	—	—
Total Non-Current Assets
Avg YoY	7.66%	11.48%	4.64%	3.03%	4.73%
Slope	7.39%	10.93%	5.19%	1.22%	1.48%
CAGR	7.66%	11.36%	3.93%	2.48%	4.15%
LSR	7.66%	11.81%	5.02%	0.99%	1.45%
Total Assets
Avg YoY	-5.86%	19.64%	8.73%	5.80%	6.21%
Slope	-8.33%	11.29%	8.37%	4.19%	3.45%
CAGR	-7.55%	15.81%	6.64%	4.32%	5.00%
LSR	-7.55%	13.90%	8.21%	3.68%	3.15%
Accounts Payable
Avg YoY	6.92%	13.03%	7.11%	3.50%	4.23%
Slope	6.68%	10.67%	7.07%	3.05%	1.96%
CAGR	6.81%	12.75%	6.82%	3.13%	3.78%
LSR	6.81%	11.75%	7.09%	2.78%	1.79%
Short-Term Debt
Avg YoY	84.51%	22.35%	9.66%	-1.40%	-0.60%
Slope	49.33%	-9.59%	-18.15%	-7.03%	-8.04%
CAGR	54.62%	-3.61%	-6.73%	-7.77%	-6.07%
LSR	54.62%	-9.84%	-18.84%	—	—
Tax Payables
Avg YoY	17.18%	29.35%	18.37%	4.40%	5.53%
Slope	12.78%	19.22%	14.77%	1.16%	-1.06%
CAGR	12.47%	26.15%	16.26%	0.77%	—
LSR	12.47%	22.46%	15.73%	1.08%	—
Deferred Revenue
Avg YoY	—	—	-13.53%	-17.54%	3.16%
Slope	—	—	-34.06%	-21.08%	-17.85%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Current Liabilities
Avg YoY	49.89%	22.54%	22.74%	26.73%	23.36%
Slope	32.37%	17.71%	-6.29%	-3.84%	-0.08%
CAGR	44.10%	16.57%	3.50%	2.03%	3.80%
LSR	44.10%	18.26%	-4.51%	-3.18%	-0.23%
Total Current Liabilities
Avg YoY	13.68%	12.77%	6.99%	2.95%	3.23%
Slope	12.87%	11.25%	1.44%	-0.27%	-1.42%
CAGR	13.63%	12.70%	4.81%	0.94%	1.04%
LSR	13.63%	11.92%	1.55%	-0.34%	-1.38%
Long-Term Debt
Avg YoY	18.07%	0.77%	-3.77%	-4.16%	-1.73%
Slope	16.45%	-0.04%	-12.57%	-8.51%	-6.00%
CAGR	18.06%	-0.96%	-6.63%	-6.37%	-3.77%
LSR	18.06%	0.14%	-11.60%	-8.97%	-6.85%
Capital Lease Obligations
Avg YoY	7.14%	13.30%	44.58%	34.29%	34.29%
Slope	6.68%	10.47%	21.15%	20.97%	19.29%
CAGR	6.71%	12.87%	29.53%	—	—
LSR	6.71%	11.45%	32.04%	—	—
Deferred Tax Liabilities
Avg YoY	-100.00%	-6.94%	13.60%	2.11%	-5.83%
Slope	6.78%	8.06%	7.62%	-1.31%	-7.09%
CAGR	4.62%	18.57%	16.78%	—	-2.44%
LSR	—	—	—	—	—
Other Non-Current Liabilities
Avg YoY	-16.82%	5.62%	-4.73%	-0.50%	66.67%
Slope	-18.55%	4.90%	-6.86%	-5.47%	-0.10%
CAGR	-17.95%	1.98%	-9.54%	-4.26%	0.94%
LSR	-17.95%	5.18%	-4.63%	-5.44%	1.10%
Total Non-Current Liabilities
Avg YoY	5.94%	7.93%	5.49%	3.32%	3.60%
Slope	5.58%	7.04%	2.50%	0.51%	0.18%
CAGR	5.59%	7.69%	3.16%	1.72%	2.22%
LSR	5.59%	7.29%	2.53%	0.42%	0.13%
Total Liabilities
Avg YoY	8.36%	9.40%	4.91%	2.40%	2.71%
Slope	7.98%	8.40%	2.14%	0.25%	-0.39%
CAGR	8.14%	9.27%	3.69%	1.44%	1.79%
LSR	8.14%	8.76%	2.11%	0.17%	-0.40%
Common Stock
Avg YoY	-0.93%	-0.40%	-0.03%	28.11%	21.12%
Slope	-0.97%	-0.06%	0.22%	8.14%	9.26%
CAGR	-0.98%	-0.43%	-0.04%	12.28%	9.24%
LSR	-0.98%	-0.06%	0.22%	13.76%	12.55%
Retained Earnings
Avg YoY	2.59%	30.03%	12.57%	0.10%	-7.05%
Slope	2.00%	19.17%	12.70%	10.73%	11.86%
CAGR	1.95%	26.69%	9.89%	38.69%	—
LSR	1.95%	25.02%	12.44%	—	—
Accumulated OCI
Avg YoY	18.55%	36.19%	-2.45%	0.46%	0.46%
Slope	-16.64%	-24.09%	37.38%	13.54%	0.08%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Minority Interest
Avg YoY	7.14%	6.37%	9.84%	2.93%	65.39%
Slope	6.77%	5.91%	8.07%	-5.40%	-1.99%
CAGR	7.08%	6.29%	8.83%	-2.52%	14.21%
LSR	7.08%	6.13%	8.50%	-3.72%	0.45%
Total Shareholders’ Equity
Avg YoY	2.07%	26.88%	24.61%	-220.43%	11.03%
Slope	1.57%	17.83%	33.73%	34.42%	22.21%
CAGR	1.53%	24.10%	—	32.27%	27.84%
LSR	1.53%	22.71%	—	—	—
Total Equity
Avg YoY	2.13%	26.28%	22.82%	-88.80%	4.38%
Slope	1.66%	17.59%	32.96%	31.89%	20.36%
CAGR	1.62%	23.63%	—	24.80%	27.00%
LSR	1.62%	22.29%	—	—	—
Total Liabilities & Equity
Avg YoY	4.03%	19.11%	35.02%	1,642.35%	1,213.62%
Slope	3.66%	14.46%	18.35%	13.15%	7.08%
CAGR	3.62%	17.91%	22.30%	9.05%	7.79%
LSR	3.62%	17.00%	24.88%	24.47%	8.43%
Tangible Assets
Avg YoY	-7.57%	19.78%	7.51%	5.07%	6.06%
Slope	-10.14%	10.75%	7.18%	3.41%	2.95%
CAGR	-9.14%	15.63%	5.19%	3.48%	4.72%
LSR	-9.14%	13.47%	6.91%	2.94%	2.72%
Tangible Equity
Avg YoY	1.20%	29.20%	33.09%	95.08%	-20.06%
Slope	0.97%	18.22%	37.65%	41.73%	26.39%
CAGR	0.95%	25.80%	—	34.50%	—
LSR	0.95%	23.98%	—	—	—
Tangible Book Value
Avg YoY	1.20%	29.20%	33.09%	95.08%	-20.06%
Slope	0.97%	18.22%	37.65%	41.73%	26.39%
CAGR	0.95%	25.80%	—	34.50%	—
LSR	0.95%	23.98%	—	—	—
Total Investments
Avg YoY	0.97%	3.67%	-1.15%	-0.42%	3.08%
Slope	0.91%	1.12%	-1.41%	-7.20%	-5.60%
CAGR	0.90%	3.08%	-2.16%	-3.64%	-1.52%
LSR	0.90%	1.26%	-1.08%	-6.29%	-5.52%
Net Debt
Avg YoY	-44.45%	-287.73%	-140.37%	-92.58%	-66.89%
Slope	62.23%	-2.16%	-79.30%	-26.16%	-14.17%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Working Capital
Avg YoY	-4.45%	130.01%	286.63%	192.85%	131.20%
Slope	-7.23%	28.40%	26.25%	19.31%	14.67%
CAGR	-6.55%	74.85%	37.78%	20.67%	11.49%
LSR	-6.55%	63.27%	46.07%	21.76%	—
Total Capital
Avg YoY	3.84%	20.66%	9.57%	5.98%	6.33%
Slope	3.40%	15.24%	9.78%	4.68%	3.62%
CAGR	3.35%	19.20%	8.48%	5.12%	5.59%
LSR	3.35%	18.18%	9.59%	4.05%	3.23%
Capital Employed
Avg YoY	3.65%	20.26%	8.47%	5.43%	6.13%
Slope	3.20%	15.04%	8.97%	3.78%	3.10%
CAGR	3.15%	18.81%	7.33%	4.57%	5.37%
LSR	3.15%	17.87%	8.67%	3.19%	2.77%
Invested Capital
Avg YoY	5.88%	22.12%	9.69%	6.11%	6.51%
Slope	5.50%	17.34%	9.29%	4.05%	3.25%
CAGR	5.50%	20.55%	8.40%	5.08%	5.62%
LSR	5.50%	20.67%	8.89%	3.40%	2.90%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Net Income
Avg YoY	-4.85%	109.25%	115.33%	73.75%	68.42%
Slope	-82.03%	-5.58%	25.60%	8.99%	4.40%
CAGR	-50.60%	17.89%	18.79%	-1.20%	5.24%
LSR	-50.60%	-1.66%	—	—	—
Depreciation & Amortization
Avg YoY	7.60%	14.45%	4.99%	6.16%	8.89%
Slope	7.26%	13.58%	3.44%	1.87%	2.36%
CAGR	7.58%	14.06%	0.59%	2.51%	5.68%
LSR	7.58%	15.15%	4.10%	1.60%	2.33%
Deferred Income Tax
Avg YoY	100.00%	-6.19%	-8.39%	-8.39%	-8.39%
Slope	150.00%	35.00%	-17.77%	-21.25%	-19.45%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Stock-Based Compensation
Avg YoY	-87.48%	-14.10%	-0.07%	15.92%	15.92%
Slope	-119.96%	-25.63%	5.57%	8.18%	12.11%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Change in Working Capital
Avg YoY	-10.61%	-458.06%	-232.94%	-169.36%	-112.71%
Slope	138.61%	25.47%	-7.41%	-10.07%	-7.18%
CAGR	-53.21%	47.83%	—	-1.62%	-2.08%
LSR	—	—	—	—	—
Accounts Receivable
Avg YoY	78.12%	-351.18%	-93.48%	-54.93%	-54.93%
Slope	157.79%	64.62%	-3.19%	-17.98%	-17.61%
CAGR	—	68.99%	—	—	—
LSR	—	—	—	—	—
Inventory
Avg YoY	—	—	—	-12.02%	-13.36%
Slope	—	—	—	34.71%	19.07%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Working Capital
Avg YoY	5.60%	225.88%	-247.40%	-190.78%	-124.57%
Slope	112.03%	-38.46%	-37.83%	-72.44%	-41.90%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-11.13%	-12.05%	-2.31%	-12.97%	-206.87%
Slope	-8.65%	-8.31%	2.37%	12.84%	9.42%
CAGR	9.62%	9.86%	-5.34%	-10.20%	12.59%
LSR	9.62%	9.19%	0.19%	-10.40%	-6.83%
Net Cash from Operating Activities
Avg YoY	-21.64%	52.32%	30.36%	18.64%	20.44%
Slope	-54.82%	0.72%	18.14%	9.34%	7.23%
CAGR	-38.07%	16.04%	7.65%	3.19%	5.59%
LSR	-38.07%	5.02%	22.09%	6.71%	4.94%
Capital Expenditures (PPE)
Avg YoY	-9.05%	-48.88%	-6.71%	-7.28%	-7.71%
Slope	-8.15%	-24.56%	0.88%	5.28%	5.05%
CAGR	8.14%	41.01%	-2.47%	0.36%	0.85%
LSR	8.14%	36.04%	-0.32%	-5.44%	-5.37%
Acquisitions (Net)
Avg YoY	16.25%	-141.83%	-228.29%	750.21%	560.76%
Slope	214.11%	33.06%	-53.77%	-35.96%	6.86%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Purchases of Investments
Avg YoY	100.00%	-190.70%	861.62%	516.66%	450.62%
Slope	150.00%	6.92%	-72.73%	-84.93%	-12.98%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	-100.00%	38.12%	295.32%	448.64%	315.93%
Slope	-150.00%	-70.91%	-18.10%	-17.19%	-8.70%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Other Investing Activities
Avg YoY	433.21%	268.02%	9.81%	-34.18%	-174.94%
Slope	-223.59%	-12.50%	156.51%	29.86%	4.95%
CAGR	—	—	—	0.42%	—
LSR	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-93.59%	-273.71%	-161.58%	-103.52%	-74.37%
Slope	70.70%	-5.74%	-17.91%	-3.05%	1.27%
CAGR	-34.82%	76.15%	25.80%	6.46%	1.02%
LSR	—	—	—	—	—
Net Debt Issuance
Avg YoY	436.07%	231.65%	26.51%	-3.83%	-20.88%
Slope	307.03%	185.11%	-3.65%	4.87%	-94.82%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	436.07%	231.65%	26.51%	-3.83%	-20.88%
Slope	307.03%	185.11%	-3.65%	4.87%	-94.82%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Stock Issuance
Avg YoY	28.52%	-36.31%	-13.69%	-449.88%	-418.08%
Slope	46.41%	-7.17%	-21.80%	-21.38%	-24.40%
CAGR	-51.61%	-3.23%	-0.18%	—	—
LSR	-51.61%	3.39%	—	—	—
Common Stock Issuance
Avg YoY	-37.97%	-13.34%	50.76%	59.54%	43.59%
Slope	-45.73%	-12.90%	9.84%	9.16%	-12.79%
CAGR	-41.99%	-21.84%	-8.06%	—	—
LSR	-41.99%	-16.13%	—	—	—
Common Stock Repurchased
Avg YoY	28.67%	-34.56%	-1.07%	-3.94%	-3.94%
Slope	46.41%	-6.92%	-21.64%	-21.16%	-19.40%
CAGR	-51.49%	-3.75%	-0.38%	—	—
LSR	-51.49%	2.91%	—	—	—
Net Dividends Paid
Avg YoY	7.28%	-182.97%	-66.33%	-92.48%	-68.57%
Slope	39.39%	-30.41%	-16.16%	-16.02%	-14.37%
CAGR	-52.50%	40.13%	-12.71%	15.23%	9.80%
LSR	-52.50%	68.11%	15.60%	13.57%	11.78%
Common Dividends Paid
Avg YoY	7.28%	-182.97%	-66.33%	-92.47%	-68.56%
Slope	39.39%	-30.41%	-16.16%	-16.06%	-14.39%
CAGR	-52.50%	40.13%	-12.71%	15.23%	9.80%
LSR	-52.50%	68.11%	15.60%	13.66%	11.80%
Other Financing Activities
Avg YoY	3.09%	-12.28%	-219.58%	-153.27%	-133.24%
Slope	4.09%	-8.70%	-25.27%	-22.80%	-19.53%
CAGR	-3.85%	10.71%	53.56%	31.22%	22.50%
LSR	-3.85%	9.86%	69.51%	39.57%	28.18%
Net Cash from Financing Activities
Avg YoY	24.38%	-20.66%	-199.93%	-167.71%	-138.04%
Slope	41.51%	-8.45%	-18.65%	-15.78%	-20.48%
CAGR	-46.43%	-6.17%	-2.09%	3.69%	—
LSR	-46.43%	3.78%	—	—	—
Effect of FX on Cash
Avg YoY	10.70%	-52.35%	-92.59%	-118.35%	-75.95%
Slope	11.33%	-24.54%	-0.76%	-11.70%	-8.19%
CAGR	-11.05%	27.51%	-2.18%	—	—
LSR	-11.05%	36.44%	—	—	—
Net Change in Cash
Avg YoY	-22.09%	65.95%	-299.85%	287.08%	-360.40%
Slope	36.53%	-545.33%	-57.30%	-22.25%	-0.66%
CAGR	-62.34%	—	—	—	—
LSR	-62.34%	—	—	—	—
Cash at Beginning of Period
Avg YoY	-17.11%	24.62%	19.49%	26.20%	17.76%
Slope	-18.67%	14.90%	16.26%	12.69%	7.57%
CAGR	-17.88%	15.17%	11.57%	13.91%	6.47%
LSR	-17.88%	19.64%	17.18%	12.93%	6.24%
Cash at End of Period
Avg YoY	-11.59%	17.62%	17.64%	12.69%	15.04%
Slope	-14.80%	0.59%	13.93%	10.92%	7.36%
CAGR	-13.08%	8.63%	9.26%	5.52%	5.15%
LSR	-13.08%	2.45%	16.51%	10.98%	6.46%
Operating Cash Flow
Avg YoY	-21.64%	52.32%	30.36%	18.64%	20.44%
Slope	-54.82%	0.72%	18.14%	9.34%	7.23%
CAGR	-38.07%	16.04%	7.65%	3.19%	5.59%
LSR	-38.07%	5.02%	22.09%	6.71%	4.94%
Capital Expenditure
Avg YoY	-9.05%	-48.88%	-6.71%	-7.28%	-7.71%
Slope	-8.15%	-24.56%	0.88%	5.28%	5.05%
CAGR	8.14%	41.01%	-2.47%	0.36%	0.85%
LSR	8.14%	36.04%	-0.32%	-5.44%	-5.37%
Free Cash Flow
Avg YoY	-25.08%	54.22%	-76.75%	24.46%	-2.03%
Slope	-72.92%	-5.14%	27.13%	21.46%	25.72%
CAGR	-47.51%	8.35%	31.39%	5.61%	15.28%
LSR	-47.51%	-3.81%	—	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y
EBITDA
Avg YoY	-16.11%	55.33%	28.91%	10.47%	15.77%
Slope	-52.26%	0.86%	16.05%	-4.59%	-3.47%
CAGR	-36.19%	17.37%	6.92%	-7.42%	0.91%
LSR	-36.19%	5.25%	17.68%	-2.89%	-4.16%
(-) Tax Adjustment
Avg YoY	7.82%	8.12%	-8.11%	-13.72%	-1.42%
Slope	7.51%	8.22%	-4.26%	-21.12%	-11.48%
CAGR	7.65%	7.21%	-8.56%	-16.28%	-6.30%
LSR	7.65%	8.50%	—	—	—
Change In Working Capital
Avg YoY	-10.61%	-458.06%	-232.94%	-169.36%	-112.71%
Slope	138.61%	25.47%	-7.41%	-10.07%	-7.18%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Capital Expenditure
Avg YoY	-9.05%	-48.88%	-6.71%	-7.28%	-7.71%
Slope	-8.15%	-24.56%	0.88%	5.28%	5.05%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	-3.09%	79.06%	220.78%	118.39%	103.40%
Slope	-75.42%	-6.03%	26.28%	3.33%	2.46%
CAGR	-47.22%	12.46%	—	-6.73%	3.70%
LSR	-47.22%	-4.53%	—	—	—
Net Interest After Taxes
Avg YoY	92.38%	56.99%	9.05%	10.75%	-0.46%
Slope	252.21%	141.14%	19.46%	8.52%	4.74%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Net Debt Issuance
Avg YoY	436.07%	231.65%	26.51%	-3.83%	-20.88%
Slope	307.03%	185.11%	-3.65%	4.87%	-94.82%
CAGR	—	—	5.28%	—	-3.71%
LSR	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	15.10%	105.05%	334.04%	-11.24%	3.98%
Slope	-68.42%	-2.04%	25.97%	3.53%	0.72%
CAGR	-42.90%	22.88%	45.47%	-5.30%	1.37%
LSR	-42.90%	2.62%	—	—	—