VeriSign, Inc. (VRSN)

Analysis: Growth Rates Industry: Software - Infrastructure Sector: Technology Live Price: $249.47

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
Stock Price
Avg YoY	0.37%	-0.26%	12.03%	16.35%	16.19%	14.77%
Slope	0.37%	-3.07%	9.87%	12.79%	12.40%	10.21%
CAGR	0.37%	-1.11%	10.06%	14.10%	12.55%	4.37%
LSR	0.37%	-2.94%	12.47%	16.93%	15.78%	11.85%
Market Capitalization
Avg YoY	0.36%	-0.23%	14.67%	16.73%	16.65%	14.97%
Slope	0.36%	-3.04%	11.29%	13.43%	12.69%	10.31%
CAGR	0.36%	-1.08%	11.93%	14.15%	12.69%	4.36%
LSR	0.36%	-2.91%	15.03%	17.52%	15.75%	11.67%
(-) Cash & Equivalents
Avg YoY	-21.10%	-2.83%	11.95%	12.13%	23.37%	18.27%
Slope	-25.77%	-9.07%	0.46%	-5.98%	-3.36%	0.17%
CAGR	-21.99%	-11.81%	2.28%	-9.65%	0.80%	-1.32%
LSR	-21.99%	-8.18%	1.13%	-1.83%	-1.94%	1.06%
(+) Total Debt
Avg YoY	5.06%	4.19%	3.96%	16.29%	43.02%	41.15%
Slope	4.94%	4.16%	1.86%	8.26%	9.64%	10.91%
CAGR	5.06%	4.19%	3.00%	13.16%	20.59%	—
LSR	5.06%	4.22%	1.96%	11.90%	16.16%	—
Enterprise Value
Avg YoY	1.04%	0.26%	13.07%	18.48%	17.01%	16.26%
Slope	1.04%	-2.45%	10.61%	13.41%	12.92%	10.71%
CAGR	1.04%	-0.56%	10.98%	16.29%	13.51%	4.87%
LSR	1.04%	-2.34%	13.64%	18.34%	16.80%	12.68%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
Revenue
Avg YoY	4.55%	5.34%	4.40%	6.15%	0.87%	7.62%
Slope	4.44%	5.31%	4.05%	4.94%	0.88%	1.28%
CAGR	4.55%	5.34%	4.37%	6.09%	-0.17%	5.07%
LSR	4.55%	5.48%	4.11%	5.32%	1.11%	1.57%
Cost of Revenue
Avg YoY	-2.34%	1.60%	-0.01%	1.53%	-2.87%	6.75%
Slope	-2.37%	1.45%	0.05%	1.09%	-5.80%	-4.43%
CAGR	-2.34%	1.52%	-0.08%	1.44%	-5.05%	1.51%
LSR	-2.34%	1.50%	0.05%	1.14%	-4.06%	-3.57%
Gross Profit
Avg YoY	5.63%	5.94%	5.21%	7.16%	1.96%	7.94%
Slope	5.47%	5.92%	4.75%	5.69%	2.62%	3.07%
CAGR	5.63%	5.93%	5.19%	7.08%	1.16%	5.95%
LSR	5.63%	6.11%	4.85%	6.19%	2.63%	3.30%
Gross Margin
Avg YoY	1.04%	0.57%	0.78%	0.94%	1.52%	1.12%
Slope	1.03%	0.60%	0.71%	0.82%	1.42%	1.63%
CAGR	1.04%	0.56%	0.78%	0.94%	1.33%	0.83%
LSR	1.04%	0.60%	0.71%	0.83%	1.50%	1.71%
R&D Expenses
Avg YoY	6.22%	6.68%	5.16%	4.71%	2.29%	7.19%
Slope	6.04%	6.36%	6.45%	3.66%	-1.98%	0.07%
CAGR	6.22%	6.68%	4.74%	4.30%	0.07%	3.61%
LSR	6.22%	6.60%	6.53%	3.52%	-1.44%	0.46%
SG&A Expenses
Avg YoY	3.94%	3.22%	0.88%	-0.19%	-5.07%	1.99%
Slope	3.86%	3.35%	0.19%	-0.11%	-7.05%	-4.45%
CAGR	3.94%	3.21%	0.78%	-0.33%	-5.94%	-0.32%
LSR	3.94%	3.40%	0.18%	-0.09%	-5.42%	-4.08%
Operating Expenses
Avg YoY	4.64%	4.24%	1.93%	0.88%	-3.37%	4.98%
Slope	4.53%	4.27%	1.87%	0.86%	-7.62%	-15.65%
CAGR	4.64%	4.24%	1.87%	0.81%	-5.33%	-9.62%
LSR	4.64%	4.35%	1.83%	0.83%	-5.59%	-10.59%
Operating Income (EBIT)
Avg YoY	5.93%	6.46%	6.44%	12.02%	-1.51%	1.23%
Slope	5.75%	6.41%	5.69%	7.67%	10.44%	54.13%
CAGR	5.93%	6.45%	6.39%	11.44%	9.27%	—
LSR	5.93%	6.65%	5.91%	9.22%	—	—
Operating Margin
Avg YoY	1.32%	1.06%	1.95%	5.30%	-7.54%	-14.47%
Slope	1.31%	1.10%	1.69%	3.30%	8.06%	40.43%
CAGR	1.32%	1.06%	1.93%	5.04%	9.46%	—
LSR	1.32%	1.11%	1.73%	3.70%	—	—
Interest Income
Avg YoY	95.26%	639.53%	324.03%	206.03%	180.57%	164.06%
Slope	34.30%	49.01%	15.79%	15.69%	13.32%	12.08%
CAGR	58.43%	47.91%	37.51%	12.00%	—	—
LSR	58.43%	111.77%	17.24%	15.64%	—	—
Interest Expense
Avg YoY	0.00%	-4.30%	-3.25%	-0.90%	14.19%	14.19%
Slope	0.00%	-4.71%	-6.12%	-3.15%	4.36%	7.60%
CAGR	0.00%	-4.40%	-3.89%	-5.14%	—	—
LSR	0.00%	-4.50%	-5.97%	-2.45%	—	—
Net Interest Income
Avg YoY	-10.93%	-12.10%	-6.75%	-2.69%	16.02%	9.20%
Slope	26.47%	24.33%	11.36%	6.18%	-2.88%	-6.81%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Other Income / Expense
Avg YoY	-8.78%	-9.21%	-5.66%	-1.01%	-6.47%	-38.44%
Slope	29.37%	24.21%	11.60%	6.42%	-5.73%	-7.04%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Unusual Items
Avg YoY	-8.78%	-9.21%	-5.66%	-1.01%	-6.47%	-38.44%
Slope	-29.37%	-24.21%	-11.60%	-6.42%	5.73%	7.04%
CAGR	-22.43%	-16.99%	-11.54%	-9.21%	—	5.51%
LSR	-22.43%	-23.15%	-12.25%	-6.70%	—	—
EBT excl. Unusual
Avg YoY	12.31%	12.81%	16.99%	-28.60%	-65.28%	-54.40%
Slope	10.89%	13.24%	11.90%	15.24%	11.98%	38.91%
CAGR	11.90%	12.39%	15.27%	—	6.43%	—
LSR	11.90%	14.35%	13.92%	—	—	—
Pre-Tax Income
Avg YoY	7.79%	8.09%	8.81%	22.35%	-3.09%	-2.90%
Slope	7.38%	8.36%	7.31%	9.49%	10.51%	48.43%
CAGR	7.75%	8.03%	8.57%	18.46%	7.85%	—
LSR	7.75%	8.76%	7.81%	13.19%	—	—
Pre-Tax Margin
Avg YoY	3.10%	2.60%	4.18%	14.46%	-11.81%	-20.15%
Slope	2.99%	3.07%	3.38%	5.60%	8.52%	37.29%
CAGR	3.06%	2.56%	4.02%	11.66%	8.03%	—
LSR	3.06%	3.11%	3.56%	7.47%	—	—
Income Tax Expense
Avg YoY	12.82%	-2,018.84%	-910.03%	-602.61%	-450.88%	-337.69%
Slope	7.43%	71.43%	4.49%	9.16%	13.21%	14.66%
CAGR	6.98%	—	8.60%	17.29%	4.38%	—
LSR	6.98%	—	—	—	—	—
Net Income
Avg YoY	8.72%	-0.10%	9.60%	12.04%	14.02%	16.01%
Slope	7.37%	-0.33%	7.86%	5.31%	8.25%	43.59%
CAGR	7.98%	-0.91%	8.56%	-0.40%	3.53%	—
LSR	7.98%	-0.32%	8.92%	7.02%	—	—
Net Margin
Avg YoY	3.96%	-5.08%	5.09%	5.42%	26.40%	14.08%
Slope	3.11%	-5.85%	4.19%	-0.67%	5.94%	35.54%
CAGR	3.29%	-5.93%	4.01%	-6.12%	3.71%	—
LSR	3.29%	-5.50%	4.62%	1.62%	—	—
Depreciation & Amortization
Avg YoY	-11.15%	-5.26%	-5.32%	-3.92%	-7.18%	-0.53%
Slope	-11.73%	-5.12%	-4.19%	-3.17%	-9.73%	-19.54%
CAGR	-11.30%	-5.54%	-5.52%	-4.24%	-8.44%	-16.99%
LSR	-11.30%	-5.25%	-4.08%	-3.19%	-7.84%	-15.92%
EBITDA
Avg YoY	5.17%	5.91%	5.70%	10.04%	104.75%	94.43%
Slope	5.04%	5.89%	5.14%	6.90%	7.75%	7.59%
CAGR	5.17%	5.90%	5.66%	9.69%	5.53%	12.00%
LSR	5.17%	6.10%	5.30%	8.05%	12.26%	10.25%
EBITDA Margin
Avg YoY	0.60%	0.54%	1.24%	3.51%	159.50%	128.93%
Slope	0.60%	0.59%	1.13%	2.39%	5.81%	6.09%
CAGR	0.60%	0.54%	1.23%	3.39%	5.71%	6.59%
LSR	0.60%	0.59%	1.15%	2.59%	11.03%	8.55%
NOPAT
Avg YoY	5.93%	6.46%	6.44%	12.02%	-1.51%	1.23%
Slope	5.75%	6.41%	5.69%	7.67%	10.44%	54.13%
CAGR	5.93%	6.45%	6.39%	11.44%	9.27%	—
LSR	5.93%	6.65%	5.91%	9.22%	—	—
NOPAT Margin
Avg YoY	1.32%	1.06%	1.95%	5.30%	-7.54%	-14.47%
Slope	1.31%	1.10%	1.69%	3.30%	8.06%	40.43%
CAGR	1.32%	1.06%	1.93%	5.04%	9.46%	—
LSR	1.32%	1.11%	1.73%	3.70%	—	—
Owner's Earnings
Avg YoY	7.53%	-0.17%	9.73%	382.24%	308.36%	235.24%
Slope	6.59%	-0.13%	8.59%	6.11%	8.00%	9.49%
CAGR	7.05%	-0.72%	8.04%	-0.21%	2.88%	12.78%
LSR	7.05%	-0.13%	10.04%	14.71%	—	—
Owner's Earnings Margin
Avg YoY	2.83%	-5.16%	5.40%	332.71%	300.20%	228.99%
Slope	2.29%	-5.65%	4.95%	0.26%	5.98%	8.02%
CAGR	2.39%	-5.75%	3.51%	-5.94%	3.06%	7.34%
LSR	2.39%	-5.31%	5.70%	8.92%	—	—
EPS (Basic)
Avg YoY	13.96%	3.99%	11.33%	16.63%	21.85%	18.28%
Slope	11.94%	3.80%	8.98%	8.65%	11.31%	96.99%
CAGR	13.25%	3.12%	10.40%	3.91%	8.92%	—
LSR	13.25%	3.74%	9.94%	10.89%	—	—
EPS (Diluted)
Avg YoY	13.95%	4.02%	13.29%	16.37%	21.29%	17.81%
Slope	11.94%	3.82%	10.76%	9.31%	11.64%	88.69%
CAGR	13.24%	3.15%	12.28%	3.96%	9.05%	—
LSR	13.24%	3.76%	12.45%	11.45%	—	—
Shares (Basic)
Avg YoY	-4.65%	-3.90%	-1.35%	-3.88%	-4.70%	-1.47%
Slope	-4.75%	-3.96%	-0.92%	-3.76%	-5.30%	-3.90%
CAGR	-4.65%	-3.91%	-1.67%	-4.15%	-4.95%	-2.00%
LSR	-4.65%	-3.91%	-0.93%	-3.49%	-4.89%	-3.92%
Shares (Diluted)
Avg YoY	-4.64%	-3.93%	-3.31%	-4.17%	-5.01%	-1.60%
Slope	-4.75%	-3.99%	-3.16%	-4.11%	-5.15%	-3.70%
CAGR	-4.64%	-3.93%	-3.32%	-4.20%	-5.07%	-1.99%
LSR	-4.64%	-3.93%	-3.14%	-3.97%	-4.87%	-3.76%

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Asia Pacific
Avg YoY	47.70%	25.53%	23.23%	23.23%	23.23%
Slope	33.06%	12.22%	11.40%	11.40%	11.40%
CAGR	34.57%	17.17%	16.54%	16.54%	16.54%
LSR	34.57%	10.35%	10.14%	10.14%	10.14%
EMEA
Avg YoY	10.32%	8.28%	6.50%	8.16%	8.16%
Slope	9.85%	7.00%	5.42%	6.15%	6.15%
CAGR	10.21%	8.15%	6.39%	8.00%	8.00%
LSR	10.21%	7.17%	5.50%	6.55%	6.55%
Other Geographical Areas
Avg YoY	-11.50%	0.05%	11.11%	9.77%	9.77%
Slope	-16.43%	0.70%	5.08%	8.39%	8.39%
CAGR	-17.29%	-3.93%	6.36%	6.48%	6.48%
LSR	-17.29%	-0.31%	5.90%	10.05%	10.05%
UNITED STATES
Avg YoY	10.21%	10.89%	9.15%	10.40%	10.40%
Slope	9.69%	10.54%	8.70%	8.88%	8.88%
CAGR	10.21%	10.87%	9.13%	10.35%	10.35%
LSR	10.21%	11.20%	9.05%	9.58%	9.58%
CHINA
Avg YoY	0.28%	-2.74%	0.83%	0.83%	0.83%
Slope	-0.22%	-2.47%	-0.26%	-0.26%	-0.26%
CAGR	-0.23%	-3.07%	0.32%	0.32%	0.32%
LSR	-0.23%	-2.46%	-0.23%	-0.23%	-0.23%
Asian Pacific
Avg YoY	13.69%	13.69%	13.69%	13.69%	13.69%
Slope	12.82%	12.82%	12.82%	12.82%	12.82%
CAGR	13.69%	13.69%	13.69%	13.69%	13.69%
LSR	—	—	—	—	—
Europe Middle East And Africa
Avg YoY	25.40%	25.40%	25.40%	25.40%	25.40%
Slope	22.54%	22.54%	22.54%	22.54%	22.54%
CAGR	25.40%	25.40%	25.40%	25.40%	25.40%
LSR	—	—	—	—	—

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
Cash & Cash Equivalents
Avg YoY	-21.10%	-2.83%	11.95%	12.13%	23.37%	18.27%
Slope	-25.77%	-9.07%	0.46%	-5.98%	-3.36%	0.17%
CAGR	-21.99%	-11.81%	2.28%	-9.65%	0.80%	-1.32%
LSR	-21.99%	-8.18%	1.13%	-1.83%	-1.94%	1.06%
Short-Term Investments
Avg YoY	-10.80%	-6.39%	-6.85%	300.60%	254.03%	197.07%
Slope	-14.90%	-11.69%	-11.51%	0.31%	7.02%	7.14%
CAGR	-15.58%	-11.88%	-12.02%	2.59%	5.55%	0.50%
LSR	-15.58%	-12.10%	-10.96%	6.84%	—	—
Cash & Short-Term Investments
Avg YoY	-16.57%	-10.62%	-6.14%	-1.23%	9.88%	7.72%
Slope	-18.45%	-10.91%	-8.57%	-1.56%	3.14%	4.46%
CAGR	-17.97%	-11.86%	-9.09%	-4.43%	3.39%	-0.22%
LSR	-17.97%	-11.24%	-8.43%	-1.82%	4.60%	5.99%
Net Receivables
Avg YoY	17.82%	15.67%	8.07%	8.71%	-1.14%	3.90%
Slope	2.32%	3.42%	0.00%	-1.45%	-16.34%	-11.35%
CAGR	2.91%	2.76%	-1.97%	-0.32%	-12.75%	-9.20%
LSR	2.91%	3.53%	-0.39%	-1.38%	-11.93%	-11.64%
Other Current Assets
Avg YoY	-11.36%	-4.99%	11.17%	-7.98%	601.95%	501.28%
Slope	-12.00%	-12.06%	-6.79%	-28.06%	-18.79%	-7.85%
CAGR	-11.37%	-14.96%	-3.88%	-25.00%	-13.62%	-11.70%
LSR	-11.37%	-8.87%	-6.24%	-22.90%	-21.80%	—
Total Current Assets
Avg YoY	-16.31%	-10.46%	-6.07%	-1.61%	5.00%	3.82%
Slope	-18.20%	-10.77%	-8.50%	-1.80%	1.77%	3.32%
CAGR	-17.76%	-11.73%	-9.02%	-4.70%	1.74%	-0.77%
LSR	-17.76%	-11.11%	-8.36%	-2.08%	2.14%	4.20%
Property, Plant & Equipment
Avg YoY	3.69%	1.74%	0.86%	7.50%	3.20%	14.00%
Slope	3.60%	1.38%	1.23%	2.14%	0.50%	0.51%
CAGR	3.68%	1.68%	0.77%	5.93%	0.62%	5.47%
LSR	3.68%	1.38%	1.23%	2.62%	0.66%	1.03%
Goodwill
Avg YoY	4.87%	4.09%	3.43%	4.40%	-3.12%	-9.07%
Slope	4.76%	4.02%	3.20%	3.95%	-15.31%	-14.27%
CAGR	4.87%	4.08%	3.42%	4.38%	-10.13%	—
LSR	4.87%	4.08%	3.23%	4.13%	-9.54%	—
Intangible Assets
Avg YoY	—	—	—	-72.96%	-48.13%	-51.13%
Slope	—	—	—	-35.62%	-25.11%	-22.57%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Long-Term Investments
Avg YoY	5.66%	-7.66%	-6.70%	15.66%	13.60%	11.72%
Slope	4.94%	-12.31%	-12.05%	0.52%	-9.07%	-2.85%
CAGR	4.87%	-11.59%	-9.32%	8.34%	-8.44%	—
LSR	4.87%	-9.60%	-12.57%	2.61%	-4.79%	—
Tax Assets
Avg YoY	16.19%	71.80%	96.64%	527.79%	457.39%	391.51%
Slope	13.07%	25.50%	28.17%	12.08%	10.77%	11.45%
CAGR	14.84%	48.50%	40.94%	—	22.42%	—
LSR	14.84%	42.04%	53.15%	—	—	—
Other Non-Current Assets
Avg YoY	7.06%	5.48%	248.07%	160.81%	124.68%	93.34%
Slope	6.84%	4.78%	9.38%	15.74%	14.91%	7.48%
CAGR	7.00%	5.42%	48.09%	24.43%	18.90%	0.46%
LSR	7.00%	4.84%	23.86%	30.80%	22.65%	9.44%
Total Non-Current Assets
Avg YoY	8.58%	12.99%	11.85%	18.40%	9.13%	1.23%
Slope	7.95%	10.13%	9.51%	7.37%	-0.20%	-11.59%
CAGR	8.43%	12.26%	11.11%	12.41%	0.08%	-10.66%
LSR	8.43%	11.27%	10.38%	8.71%	0.91%	-4.60%
Total Assets
Avg YoY	-5.44%	-1.31%	-0.92%	1.76%	2.69%	-2.96%
Slope	-6.01%	-2.07%	-2.80%	0.92%	1.09%	-4.85%
CAGR	-6.07%	-2.09%	-2.60%	0.06%	0.76%	-8.65%
LSR	-6.07%	-2.14%	-2.66%	1.07%	1.17%	-1.19%
Accounts Payable
Avg YoY	11.24%	2.63%	6.06%	10.99%	48.18%	56.93%
Slope	8.08%	4.18%	-5.89%	-1.76%	-16.11%	-11.22%
CAGR	9.07%	0.21%	-5.24%	2.41%	-4.50%	-9.61%
LSR	9.07%	4.35%	-5.22%	-1.63%	-10.61%	-11.15%
Short-Term Debt
Avg YoY	—	—	-31.36%	-15.18%	-29.31%	-29.31%
Slope	150.00%	100.00%	-25.56%	-4.56%	4.05%	7.39%
CAGR	—	—	-4.83%	—	—	—
LSR	—	—	—	—	—	—
Tax Payables
Avg YoY	39.11%	31.12%	25.08%	19.58%	23.59%	23.59%
Slope	32.49%	28.13%	18.21%	9.01%	11.63%	12.24%
CAGR	39.10%	29.83%	20.26%	7.96%	—	—
LSR	39.10%	32.08%	19.09%	7.85%	—	—
Deferred Revenue
Avg YoY	8.92%	9.99%	7.62%	10.46%	11.81%	8.17%
Slope	8.52%	9.15%	7.47%	8.62%	8.48%	8.63%
CAGR	8.92%	9.96%	7.58%	10.36%	11.19%	—
LSR	8.92%	9.71%	7.66%	9.69%	9.85%	—
Other Current Liabilities
Avg YoY	13.31%	10.42%	7.28%	128.03%	232.77%	216.13%
Slope	11.26%	10.43%	6.20%	-4.33%	3.82%	0.96%
CAGR	12.49%	9.97%	6.59%	6.31%	18.89%	-5.88%
LSR	12.49%	11.04%	6.11%	3.21%	14.31%	—
Total Current Liabilities
Avg YoY	24.15%	17.53%	5.60%	19.71%	23.98%	17.97%
Slope	21.65%	15.09%	1.80%	4.92%	6.17%	6.27%
CAGR	23.51%	17.03%	3.64%	11.57%	12.20%	5.49%
LSR	23.51%	15.63%	1.49%	6.87%	7.88%	7.47%
Long-Term Debt
Avg YoY	-3.82%	-0.28%	6.64%	13.43%	9.56%	9.56%
Slope	-4.15%	0.45%	5.19%	10.24%	10.56%	11.56%
CAGR	-4.18%	-0.53%	5.63%	11.65%	—	—
LSR	-4.18%	0.40%	5.97%	13.54%	—	—
Capital Lease Obligations
Avg YoY	204.46%	81.32%	68.39%	68.39%	68.39%	68.39%
Slope	66.08%	29.74%	31.63%	27.37%	22.89%	19.44%
CAGR	151.47%	20.29%	—	—	—	—
LSR	151.47%	30.16%	—	—	—	—
Deferred Tax Liabilities
Avg YoY	—	-100.00%	-23.06%	-17.71%	55.48%	55.49%
Slope	—	-100.00%	-28.17%	-9.28%	1.22%	4.79%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Other Non-Current Liabilities
Avg YoY	-61.17%	-46.59%	-36.81%	10.65%	219.70%	191.50%
Slope	-78.50%	-6.89%	-15.84%	-1.40%	-2.10%	-0.82%
CAGR	-66.70%	—	-25.35%	-3.38%	6.45%	-7.18%
LSR	-66.70%	—	—	—	—	—
Total Non-Current Liabilities
Avg YoY	-4.96%	-1.31%	3.44%	10.71%	85.03%	67.68%
Slope	-5.31%	-0.56%	1.71%	7.67%	9.03%	10.20%
CAGR	-5.32%	-1.56%	2.44%	8.22%	30.96%	16.77%
LSR	-5.32%	-0.63%	2.00%	9.87%	17.85%	20.67%
Total Liabilities
Avg YoY	6.15%	5.69%	3.68%	11.18%	24.34%	16.86%
Slope	5.96%	5.55%	1.75%	6.53%	7.82%	8.46%
CAGR	6.15%	5.69%	3.02%	9.69%	16.10%	8.24%
LSR	6.15%	5.70%	1.79%	8.35%	11.03%	11.72%
Preferred Stock
Avg YoY	—	—	—	—	—	-100.00%
Slope	—	—	—	—	—	-23.08%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Common Stock
Avg YoY	-3.77%	-3.26%	487,846.82%	313,618.25%	231,090.70%	182,945.70%
Slope	-3.83%	-3.26%	23.21%	23.65%	20.79%	18.10%
CAGR	-3.78%	-3.27%	228.58%	119.94%	84.75%	60.60%
LSR	-3.78%	-3.23%	374.44%	188.62%	106.67%	67.91%
Retained Earnings
Avg YoY	-1.22%	-1.41%	-0.96%	0.91%	2.59%	15.00%
Slope	1.23%	1.40%	1.18%	-0.63%	-2.11%	-2.87%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Accumulated OCI
Avg YoY	0.91%	1.60%	-1.62%	59.38%	53.32%	52.47%
Slope	-0.91%	-1.31%	0.93%	-4.83%	-2.86%	9.32%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	-9.59%	-4.36%
Slope	—	—	—	—	-21.87%	-10.63%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	18.06%	14.51%	-4.13%	-1.13%	1.08%	13.64%
Slope	-16.53%	-13.57%	27.91%	12.31%	5.54%	2.26%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Total Equity
Avg YoY	18.06%	14.51%	-4.13%	-1.13%	1.09%	13.64%
Slope	-16.53%	-13.57%	27.91%	12.31%	5.53%	2.26%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Total Liabilities & Equity
Avg YoY	-7.38%	-2.68%	-13.99%	-8.22%	-4.41%	13.13%
Slope	-8.41%	-3.69%	48.37%	18.95%	9.13%	4.65%
CAGR	-8.52%	-3.94%	—	—	—	—
LSR	-8.52%	-3.86%	—	—	—	—
Tangible Assets
Avg YoY	-5.77%	-1.47%	-1.02%	1.73%	5.31%	3.58%
Slope	-6.39%	-2.27%	-2.97%	0.84%	2.76%	3.53%
CAGR	-6.44%	-2.30%	-2.78%	-0.06%	3.40%	1.32%
LSR	-6.44%	-2.35%	-2.82%	0.99%	3.18%	4.06%
Tangible Equity
Avg YoY	17.64%	14.14%	-4.23%	-1.19%	0.70%	-1.05%
Slope	-16.17%	-13.26%	27.70%	12.23%	5.70%	3.61%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Tangible Book Value
Avg YoY	17.64%	14.14%	-4.23%	-1.19%	0.70%	-1.05%
Slope	-16.17%	-13.26%	27.70%	12.23%	5.70%	3.61%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Total Investments
Avg YoY	-10.71%	-6.56%	-6.97%	265.93%	600.26%	479.44%
Slope	-14.72%	-11.70%	-11.51%	0.31%	5.97%	6.52%
CAGR	-15.38%	-11.88%	-11.99%	2.64%	4.60%	0.55%
LSR	-15.38%	-12.09%	-10.97%	6.60%	14.86%	10.36%
Net Debt
Avg YoY	11.09%	7.96%	4.09%	-1.57%	-52.69%	-41.94%
Slope	10.35%	6.59%	2.08%	13.07%	16.40%	17.69%
CAGR	11.04%	7.60%	3.04%	—	—	—
LSR	11.04%	6.81%	2.05%	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
Working Capital
Avg YoY	261.87%	92.34%	48.05%	13.36%	-157.82%	-162.12%
Slope	-105.84%	-162.96%	-102.34%	-35.04%	-14.66%	-7.03%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Total Capital
Avg YoY	-89.55%	-49.84%	-20.31%	-9.78%	-6.96%	-10.90%
Slope	-211.79%	-58.98%	-19.63%	-8.17%	-7.76%	-13.66%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Capital Employed
Avg YoY	-64.28%	-34.50%	-11.95%	4.17%	4.84%	-1.73%
Slope	-106.20%	-37.90%	-9.73%	-3.86%	-4.08%	-10.95%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Invested Capital
Avg YoY	719.54%	2,328.32%	950.60%	614.79%	440.75%	343.32%
Slope	-68.67%	-209.41%	-79.71%	-16.58%	-16.78%	-19.28%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
Net Income
Avg YoY	13.95%	4.02%	13.29%	25.13%	5.84%	12.90%
Slope	11.94%	3.82%	10.76%	12.20%	13.15%	80.01%
CAGR	13.24%	3.15%	12.28%	20.23%	9.05%	—
LSR	13.24%	3.76%	12.45%	17.26%	—	—
Depreciation & Amortization
Avg YoY	-6.85%	-1.44%	-2.11%	0.31%	-2.44%	-1.20%
Slope	-7.10%	-1.30%	-0.99%	0.74%	-4.00%	-19.14%
CAGR	-6.98%	-1.67%	-2.27%	-0.04%	-3.56%	-15.30%
LSR	-6.98%	-1.37%	-0.97%	0.81%	-3.12%	-12.64%
Deferred Income Tax
Avg YoY	—	100.00%	-87.22%	7.45%	-254.64%	-217.83%
Slope	—	100.00%	21.91%	12.69%	10.06%	3.06%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	7.09%	10.48%	6.89%	6.33%	59.85%	50.47%
Slope	6.86%	9.64%	5.89%	6.66%	5.22%	7.69%
CAGR	7.08%	10.43%	6.73%	5.56%	18.70%	—
LSR	7.08%	10.36%	5.96%	7.10%	7.74%	—
Change in Working Capital
Avg YoY	4.13%	56.22%	-28.47%	-5.41%	4.94%	6.57%
Slope	-46.30%	114.35%	-57.51%	-19.24%	-6.89%	-0.30%
CAGR	-15.22%	—	-13.03%	-3.50%	0.86%	-0.23%
LSR	—	—	—	—	—	—
Accounts Receivable
Avg YoY	—	—	-68.03%	312.60%	164.42%	106.56%
Slope	—	—	8.81%	-39.45%	67.45%	-17.86%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Inventory
Avg YoY	—	—	268.30%	165.19%	64.12%	41.04%
Slope	—	—	-39.65%	-18.66%	25.32%	14.22%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Accounts Payable
Avg YoY	100.00%	204.85%	1,288.96%	804.72%	562.30%	496.33%
Slope	150.00%	-56.47%	-30.97%	-11.92%	18.10%	11.33%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Other Working Capital
Avg YoY	4.21%	51.52%	-28.56%	-5.81%	21.66%	37.23%
Slope	-46.50%	109.63%	-66.25%	-21.20%	-13.98%	-6.48%
CAGR	-15.30%	—	-11.84%	-1.35%	-5.57%	-0.23%
LSR	—	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-265.40%	-154.28%	97.71%	33.63%	146.09%	105.17%
Slope	-47.26%	-96.07%	-66.12%	-7.50%	-24.54%	-14.22%
CAGR	122.15%	—	65.98%	—	—	—
LSR	122.15%	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	9.31%	9.80%	7.34%	17.09%	10.91%	11.46%
Slope	8.93%	8.75%	6.82%	9.20%	8.73%	8.46%
CAGR	9.29%	9.76%	7.25%	15.64%	8.56%	8.83%
LSR	9.29%	9.22%	7.00%	11.87%	10.06%	9.72%
Capital Expenditures (PPE)
Avg YoY	-19.54%	-4.59%	-30.93%	-26.35%	-19.11%	-28.98%
Slope	-4.95%	5.75%	8.72%	4.68%	3.45%	3.55%
CAGR	6.20%	-6.62%	-0.73%	-3.18%	-3.22%	-1.06%
LSR	6.20%	-5.96%	-5.33%	-3.52%	-3.68%	-3.15%
Acquisitions (Net)
Avg YoY	100.00%	261.30%	180.32%	140.28%	130.91%	33.43%
Slope	150.00%	-79.50%	-14.28%	-66.93%	-23.78%	-1.94%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Purchases of Investments
Avg YoY	12.42%	12.78%	4.78%	-228.33%	-1,409.47%	-1,123.84%
Slope	13.98%	21.89%	10.60%	-1.45%	-7.92%	-7.82%
CAGR	-13.92%	-18.12%	-10.21%	5.35%	12.09%	0.81%
LSR	-13.92%	-20.45%	-11.31%	8.55%	29.67%	16.10%
Sales / Maturities of Investments
Avg YoY	-11.99%	-9.57%	-2.12%	27.88%	33.12%	34.45%
Slope	-13.97%	-16.03%	-8.94%	3.04%	8.41%	8.45%
CAGR	-12.62%	-11.68%	-5.78%	14.84%	12.72%	4.72%
LSR	-12.62%	-15.15%	-9.27%	9.26%	18.96%	13.48%
Other Investing Activities
Avg YoY	-100.00%	92.02%	666.54%	236.35%	73.11%	82.73%
Slope	-132.87%	64.24%	11.55%	19.48%	6.18%	-8.09%
CAGR	-75.39%	—	—	—	-9.18%	-12.06%
LSR	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	140.62%	58.85%	-52.70%	-28.90%	-19.66%	-22.50%
Slope	-10.76%	190.64%	63.29%	127.59%	34.01%	213.71%
CAGR	-5.91%	—	—	-1.03%	10.57%	—
LSR	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	—	100.00%	-58.24%	1,462.01%	1,833.74%	1,289.33%
Slope	—	50.00%	-68.55%	-81.42%	-27.97%	-13.04%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	—	100.00%	-58.24%	1,462.01%	911.03%	564.35%
Slope	—	50.00%	-68.56%	-81.40%	-26.69%	-12.21%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Short-Term Debt Issuance
Avg YoY	—	100.00%	100.00%	100.00%	29.40%	29.40%
Slope	—	50.00%	-18.18%	28.85%	17.23%	6.21%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	-16.52%	-19.81%	-12.81%	-22.34%	-68.05%	-95.56%
Slope	-13.48%	-15.59%	-10.47%	-8.50%	-8.12%	-10.17%
CAGR	13.40%	16.64%	11.11%	12.13%	10.81%	—
LSR	13.40%	16.57%	10.43%	9.61%	11.33%	—
Common Stock Issuance
Avg YoY	—	—	-100.00%	-80.69%	37.30%	28.35%
Slope	—	—	-6.06%	-30.02%	-18.94%	-10.82%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	-16.52%	-19.81%	-12.87%	-22.38%	-56.43%	-63.81%
Slope	-13.48%	-15.59%	-10.37%	-8.48%	-7.38%	-9.33%
CAGR	13.40%	16.64%	11.11%	12.13%	9.89%	—
LSR	13.40%	16.57%	10.32%	9.61%	9.79%	—
Preferred Stock Issuance
Avg YoY	—	—	-100.00%	-100.00%	-100.00%	-100.00%
Slope	—	—	-42.42%	-5.36%	4.51%	7.69%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	—	—	—	52.04%	52.04%	52.04%
Slope	—	—	—	34.88%	12.06%	2.90%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Common Dividends Paid
Avg YoY	—	—	—	52.04%	52.04%	52.04%
Slope	—	—	—	34.88%	12.06%	2.90%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Other Financing Activities
Avg YoY	-32.17%	-14.99%	150.38%	90.22%	109.26%	723.93%
Slope	-40.42%	-13.67%	-12.09%	-18.95%	-4.62%	0.96%
CAGR	-39.45%	-21.34%	-18.00%	-21.56%	14.34%	5.67%
LSR	-39.45%	-17.37%	—	—	—	—
Net Cash from Financing Activities
Avg YoY	-17.16%	-20.14%	-355.63%	-233.74%	-217.05%	-202.76%
Slope	-13.95%	-15.79%	-12.61%	-9.30%	-10.24%	-11.58%
CAGR	13.88%	17.02%	34.13%	8.13%	10.77%	—
LSR	13.88%	16.77%	27.24%	10.89%	—	—
Effect of FX on Cash
Avg YoY	-328.11%	-451.43%	-221.50%	-264.32%	3,218.76%	2,522.22%
Slope	-6.71%	-26.04%	-43.99%	-99.88%	-30.80%	-13.72%
CAGR	4.87%	110.32%	—	—	—	—
LSR	4.87%	53.78%	—	—	—	—
Net Change in Cash
Avg YoY	-59.56%	-1.98%	789.95%	454.80%	530.11%	456.19%
Slope	-1,085.24%	27.02%	-607.45%	18.48%	-25.07%	-120.03%
CAGR	—	-22.19%	—	—	—	—
LSR	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	20.56%	-4.87%	15.73%	14.12%	28.81%	38.07%
Slope	6.91%	-12.10%	5.27%	-7.56%	-2.00%	1.70%
CAGR	8.63%	-13.61%	6.32%	-8.18%	3.70%	7.48%
LSR	8.63%	-11.05%	6.81%	-3.70%	-0.28%	3.71%
Cash at End of Period
Avg YoY	-20.67%	-3.01%	12.02%	12.17%	23.40%	18.29%
Slope	-25.17%	-9.06%	0.67%	-5.75%	-3.22%	0.26%
CAGR	-21.55%	-11.75%	2.57%	-9.48%	0.94%	-1.21%
LSR	-21.55%	-8.14%	1.41%	-1.62%	-1.79%	1.17%
Operating Cash Flow
Avg YoY	9.31%	9.80%	7.34%	17.09%	10.91%	11.46%
Slope	8.93%	8.75%	6.82%	9.20%	8.73%	8.46%
CAGR	9.29%	9.76%	7.25%	15.64%	8.56%	8.83%
LSR	9.29%	9.22%	7.00%	11.87%	10.06%	9.72%
Capital Expenditure
Avg YoY	-19.54%	-4.59%	-30.93%	-26.35%	-19.11%	-28.98%
Slope	-4.95%	5.75%	8.72%	4.68%	3.45%	3.55%
CAGR	6.20%	-6.62%	-0.73%	-3.18%	-3.22%	-1.06%
LSR	6.20%	-5.96%	-5.33%	-3.52%	-3.68%	-3.15%
Free Cash Flow
Avg YoY	9.49%	10.63%	8.43%	27.28%	18.25%	26.85%
Slope	9.09%	9.48%	7.95%	10.54%	10.27%	10.48%
CAGR	9.39%	10.58%	7.64%	19.30%	10.24%	10.35%
LSR	9.39%	10.01%	8.37%	15.39%	12.84%	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y
EBITDA
Avg YoY	10.30%	10.25%	9.32%	14.36%	10.20%	10.25%
Slope	9.79%	9.91%	8.33%	10.09%	9.77%	-5.90%
CAGR	10.30%	10.24%	9.28%	14.05%	9.50%	-2.54%
LSR	10.30%	10.44%	8.72%	12.27%	11.31%	1.26%
(-) Tax Adjustment
Avg YoY	16.67%	16.67%	-6.64%	-8.40%	-16.15%	0.53%
Slope	10.08%	53.36%	5.85%	8.05%	8.30%	8.84%
CAGR	9.51%	—	9.31%	12.92%	7.14%	11.21%
LSR	9.51%	—	—	—	—	—
Change In Working Capital
Avg YoY	4.13%	56.22%	-28.47%	-5.41%	4.94%	6.57%
Slope	-46.30%	114.35%	-57.51%	-19.24%	-6.89%	-0.30%
CAGR	-15.22%	—	-13.03%	-3.50%	0.86%	-0.23%
LSR	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-19.54%	-4.59%	-30.93%	-26.35%	-19.11%	-28.98%
Slope	-4.95%	5.75%	8.72%	4.68%	3.45%	3.55%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	14.41%	0.11%	19.59%	3,433.35%	2,537.26%	2,007.51%
Slope	11.09%	-1.87%	13.94%	15.33%	14.25%	-7.94%
CAGR	12.57%	-2.19%	14.99%	28.37%	16.37%	-3.73%
LSR	12.57%	-1.77%	18.54%	—	—	—
Net Interest After Taxes
Avg YoY	9.60%	14.47%	2.26%	-4.37%	-25.77%	-30.14%
Slope	20.50%	27.68%	7.19%	1.35%	-5.98%	-8.73%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	—	100.00%	-58.24%	1,462.01%	1,833.74%	1,289.33%
Slope	—	50.00%	-68.55%	-81.42%	-27.97%	-13.04%
CAGR	—	—	—	—	—	—
LSR	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	12.29%	-1.22%	29.00%	60.66%	73.47%	57.05%
Slope	9.80%	-3.26%	10.00%	10.25%	9.49%	-7.45%
CAGR	10.92%	-3.22%	2.52%	17.59%	16.71%	-3.58%
LSR	10.92%	-3.07%	—	—	—	—