Atlantic American Corporation (AAME)

Analysis: Growth Rates Industry: Insurance - Life Sector: Financial Services Live Price: $2.90

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	-16.22%	-4.50%	-10.63%	0.92%	2.84%	4.69%	4.85%
Slope	-18.96%	-4.80%	-10.43%	-3.06%	0.56%	0.70%	-0.58%
CAGR	-18.88%	-7.01%	-12.25%	-1.95%	-2.91%	-1.08%	-1.39%
LSR	-18.88%	-5.65%	-9.22%	-2.98%	1.24%	0.82%	-0.45%
Market Capitalization
Avg YoY	-16.22%	-2.50%	-10.48%	0.98%	2.60%	4.41%	4.68%
Slope	-18.96%	-3.64%	-10.51%	-3.03%	0.67%	0.81%	-0.55%
CAGR	-18.88%	-5.49%	-12.25%	-1.93%	-2.91%	-1.08%	-1.39%
LSR	-18.88%	-4.41%	-9.26%	-2.97%	1.33%	0.90%	-0.43%
(-) Cash & Equivalents
Avg YoY	11.85%	19.35%	3.72%	51.96%	38.07%	33.61%	33.58%
Slope	10.82%	14.22%	-29.06%	-5.02%	1.47%	2.44%	2.63%
CAGR	10.99%	18.46%	-18.51%	2.30%	-0.73%	0.42%	2.69%
LSR	10.99%	16.06%	-21.18%	-3.51%	0.20%	0.03%	0.28%
(+) Total Debt
Avg YoY	2.75%	4.62%	2.81%	0.32%	-1.11%	-0.44%	0.35%
Slope	2.72%	4.40%	2.77%	-0.17%	-1.84%	-1.72%	-1.05%
CAGR	2.75%	4.60%	2.67%	0.02%	-1.50%	-0.90%	-0.90%
LSR	2.75%	4.55%	2.81%	-0.12%	-1.67%	-1.66%	-0.99%
Enterprise Value
Avg YoY	-17.76%	-7.83%	4.35%	-8.16%	-1.84%	2.63%	1.88%
Slope	-21.49%	-7.55%	436.79%	14.59%	-5.56%	-5.91%	-6.06%
CAGR	-21.56%	-10.70%	—	-3.21%	-3.38%	-2.07%	-2.94%
LSR	-21.56%	-8.74%	—	—	—	—	—

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	0.10%	-0.88%	1.50%	4.35%	2.63%	1.53%	6.04%
Slope	0.10%	-1.41%	1.37%	3.21%	3.41%	2.01%	2.39%
CAGR	0.10%	-0.92%	1.41%	4.12%	2.31%	0.89%	4.56%
LSR	0.10%	-1.39%	1.43%	3.59%	3.63%	2.03%	2.62%
Cost of Revenue
Avg YoY	1.10%	1.17%	2.25%	5.03%	3.02%	1.82%	6.97%
Slope	1.08%	0.22%	1.66%	2.66%	3.58%	2.02%	2.58%
CAGR	1.08%	1.06%	2.07%	4.42%	2.47%	1.08%	5.20%
LSR	1.08%	0.24%	1.76%	2.94%	3.91%	2.06%	2.92%
Gross Profit
Avg YoY	-9.09%	-15.07%	1.62%	-33.96%	-21.86%	-74.82%	-60.07%
Slope	-9.91%	-15.51%	-1.30%	9.26%	1.86%	1.96%	0.78%
CAGR	-9.86%	-15.86%	-4.30%	1.33%	0.71%	-0.92%	0.70%
LSR	-9.86%	-13.89%	-1.37%	—	—	—	—
Gross Margin
Avg YoY	-9.10%	-14.10%	0.49%	-33.21%	-21.32%	-77.93%	-66.54%
Slope	-9.98%	-14.09%	-2.87%	8.46%	-2.00%	-0.04%	-2.34%
CAGR	-9.95%	-15.07%	-5.63%	-2.68%	-1.56%	-1.80%	-3.69%
LSR	-9.95%	-12.67%	-2.76%	—	—	—	—
Operating Expenses
Avg YoY	12.49%	10.73%	2.93%	-26.09%	-19.96%	-30.52%	-50.82%
Slope	11.24%	10.11%	2.69%	15.53%	4.87%	4.44%	8.21%
CAGR	12.23%	10.52%	2.56%	4.01%	2.12%	1.67%	2.87%
LSR	12.23%	10.72%	2.50%	—	—	—	—
Operating Income (EBIT)
Avg YoY	352.36%	144.61%	-388.12%	-208.95%	-257.35%	-204.73%	-138.57%
Slope	-295.74%	-138.83%	-21.80%	-8.50%	-6.08%	-3.69%	-7.48%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Operating Margin
Avg YoY	348.74%	143.24%	-396.53%	-222.16%	-264.60%	-207.19%	-146.50%
Slope	-295.90%	-141.84%	-23.88%	-10.72%	-8.63%	-5.18%	-9.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Interest Expense
Avg YoY	36.03%	24.74%	12.99%	4.53%	2.05%	1.22%	3.90%
Slope	25.47%	23.63%	8.43%	1.03%	-3.32%	-2.78%	-1.67%
CAGR	32.35%	20.72%	10.18%	1.94%	-0.29%	-1.05%	1.14%
LSR	32.35%	26.66%	7.68%	0.57%	-3.09%	-2.83%	-1.85%
Net Interest Income
Avg YoY	36.03%	24.74%	12.99%	4.53%	2.05%	1.22%	3.90%
Slope	-25.47%	-23.63%	-8.43%	-1.03%	3.32%	2.78%	1.67%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	36.03%	24.74%	12.99%	4.53%	2.05%	1.22%	71.86%
Slope	-25.47%	-23.63%	-8.43%	-1.03%	3.32%	2.78%	8.51%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	36.03%	24.74%	12.99%	4.53%	2.05%	1.22%	71.86%
Slope	25.47%	23.63%	8.43%	1.03%	-3.32%	-2.78%	-8.51%
CAGR	32.35%	20.72%	10.18%	1.94%	-0.29%	-1.05%	1.14%
LSR	32.35%	26.66%	7.68%	0.57%	-3.09%	-2.83%	-3.57%
EBT excl. Unusual
Avg YoY	-1,318.01%	-701.04%	-402.14%	-233.42%	-181.23%	-124.72%	-141.52%
Slope	-107.01%	-486.67%	-85.33%	-21.40%	-10.22%	-5.10%	131.72%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Pre-Tax Income
Avg YoY	352.36%	144.61%	-388.12%	-208.95%	-257.35%	-204.73%	-164.92%
Slope	-295.74%	-138.83%	-21.80%	-8.50%	-6.08%	-3.69%	-3.11%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Pre-Tax Margin
Avg YoY	348.74%	143.24%	-396.53%	-222.16%	-264.60%	-207.19%	-172.37%
Slope	-295.90%	-141.84%	-23.88%	-10.72%	-8.63%	-5.18%	-5.36%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Income Tax Expense
Avg YoY	-8.10%	-32.42%	-1,818.86%	-980.57%	-766.87%	-574.68%	-673.58%
Slope	-287.00%	-142.46%	-23.03%	0.60%	-9.00%	-2.02%	10.88%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Income
Avg YoY	1,142.35%	538.87%	-136.22%	-62.22%	-88.20%	-102.60%	-85.77%
Slope	-298.20%	-137.88%	-21.48%	-9.87%	-1.97%	1.25%	-0.87%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Margin
Avg YoY	1,132.81%	534.47%	-145.19%	-74.50%	-97.31%	-111.18%	-93.33%
Slope	-298.53%	-140.83%	-23.52%	-12.19%	-3.64%	-1.08%	-1.17%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Depreciation & Amortization
Avg YoY	-35.30%	-19.88%	-9.37%	192.09%	619.97%	570.11%	477.04%
Slope	-41.19%	-20.29%	-8.39%	-13.57%	-16.44%	-6.92%	-2.44%
CAGR	-35.87%	-21.83%	-11.66%	-0.25%	-20.31%	-6.30%	-1.38%
LSR	-35.87%	-21.34%	-9.63%	-4.24%	-8.13%	-4.48%	-2.00%
EBITDA
Avg YoY	-2,913.49%	-1,485.34%	27.95%	113.40%	78.33%	72.79%	87.50%
Slope	-648.00%	-116.82%	-18.57%	-9.98%	-10.85%	-5.04%	-6.04%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
EBITDA Margin
Avg YoY	-2,892.03%	-1,474.08%	10.07%	89.33%	61.11%	62.49%	73.23%
Slope	-650.86%	-118.48%	-20.51%	-13.06%	-13.41%	-6.30%	-7.80%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
NOPAT
Avg YoY	352.36%	144.61%	-388.12%	-208.95%	-257.35%	-204.73%	-138.57%
Slope	-295.74%	-138.83%	-21.80%	-8.50%	-6.08%	-3.69%	-7.48%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
NOPAT Margin
Avg YoY	348.74%	143.24%	-396.53%	-222.16%	-264.60%	-207.19%	-146.50%
Slope	-295.90%	-141.84%	-23.88%	-10.72%	-8.63%	-5.18%	-9.66%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Owner's Earnings
Avg YoY	-605.83%	-331.84%	3,094.08%	2,078.42%	1,523.98%	1,195.59%	991.42%
Slope	-669.73%	-116.66%	-18.18%	-11.05%	-10.60%	-3.33%	-1.41%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Owner's Earnings Margin
Avg YoY	-601.86%	-329.38%	2,905.96%	1,947.41%	1,428.31%	1,118.79%	927.16%
Slope	-673.80%	-118.32%	-20.08%	-14.45%	-13.18%	-5.12%	-1.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
EPS (Basic)
Avg YoY	1,142.60%	539.02%	-132.34%	-59.91%	-86.42%	-100.43%	-84.17%
Slope	-298.32%	-137.94%	-20.23%	-9.48%	-1.88%	1.56%	-1.20%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
EPS (Diluted)
Avg YoY	1,142.60%	539.61%	-110.15%	-46.21%	-74.83%	-91.23%	-76.68%
Slope	-298.32%	-140.22%	-21.15%	-9.81%	-1.75%	1.64%	-1.25%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Shares (Basic)
Avg YoY	0.02%	-0.05%	-1.29%	-0.55%	-0.05%	0.30%	0.53%
Slope	0.02%	-0.04%	-1.71%	-0.87%	-0.34%	-0.24%	0.20%
CAGR	0.02%	-0.05%	-1.37%	-0.63%	-0.12%	0.04%	0.31%
LSR	0.02%	-0.04%	-1.65%	-0.87%	-0.35%	-0.24%	0.22%
Shares (Diluted)
Avg YoY	0.02%	-1.63%	-1.23%	-0.53%	0.01%	0.37%	0.60%
Slope	0.02%	-1.37%	-1.66%	-0.88%	-0.43%	-0.33%	0.17%
CAGR	0.02%	-1.67%	-1.37%	-0.65%	-0.12%	0.04%	0.31%
LSR	0.02%	-1.33%	-1.61%	-0.88%	-0.44%	-0.32%	0.19%

Product Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Bankers Fidelity
Avg YoY	-1.80%	-0.47%	3.37%	2.50%	2.50%
Slope	-1.86%	-0.91%	2.65%	2.90%	2.90%
CAGR	-1.83%	-0.50%	3.00%	2.20%	2.20%
LSR	-1.83%	-0.91%	2.96%	3.05%	3.05%
Corporate and Other
Avg YoY	5.06%	5.06%	5.06%	5.06%	5.06%
Slope	4.94%	4.94%	4.94%	4.94%	4.94%
CAGR	5.06%	5.06%	5.06%	5.06%	5.06%
LSR	—	—	—	—	—
Intersegment Elimination
Avg YoY	0.07%	0.07%	0.07%	0.07%	0.07%
Slope	0.07%	0.07%	0.07%	0.07%	0.07%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—

Geographic Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
American Southern
Avg YoY	-1.88%	4.06%	4.08%	5.65%	5.65%
Slope	-1.90%	2.89%	5.00%	5.24%	5.24%
CAGR	-1.88%	3.80%	3.86%	5.43%	5.43%
LSR	-1.88%	3.09%	5.24%	5.54%	5.54%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	11.85%	19.35%	3.72%	51.96%	38.07%	33.61%	33.58%
Slope	10.82%	14.22%	-29.06%	-5.02%	1.47%	2.44%	2.63%
CAGR	10.99%	18.46%	-18.51%	2.30%	-0.73%	0.42%	2.69%
LSR	10.99%	16.06%	-21.18%	-3.51%	0.20%	0.03%	0.28%
Short-Term Investments
Avg YoY	-91.06%	-48.06%	-30.02%	-30.02%	-30.02%	-30.02%	-30.02%
Slope	-127.25%	-46.92%	7.42%	16.67%	16.88%	15.60%	14.17%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash & Short-Term Investments
Avg YoY	-59.10%	-30.81%	-12.06%	41.82%	30.59%	27.69%	28.69%
Slope	-89.47%	-37.50%	-7.78%	5.93%	8.78%	8.22%	7.37%
CAGR	-61.32%	-38.93%	-18.51%	2.30%	-0.73%	0.42%	2.69%
LSR	-61.32%	-41.82%	-13.75%	12.14%	12.46%	8.98%	7.01%
Net Receivables
Avg YoY	10.46%	-0.37%	2.92%	2.92%	-14.23%	-26.49%	-10.11%
Slope	9.98%	-0.57%	24.21%	24.09%	20.31%	9.05%	-1.04%
CAGR	10.44%	-1.21%	—	—	—	-1.75%	0.40%
LSR	10.44%	-0.42%	—	—	—	—	—
Inventory
Avg YoY	-100.00%	-42.03%	-46.34%	-39.70%	-39.70%	-39.70%	-39.70%
Slope	150.00%	23.15%	33.03%	4.44%	-5.03%	-8.02%	-8.91%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Current Assets
Avg YoY	-49.86%	-200.21%	-415.62%	-415.62%	-363.02%	-363.02%	-363.02%
Slope	62.70%	28.92%	-24.57%	-24.25%	-41.79%	-31.53%	-25.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Current Assets
Avg YoY	-100.00%	-95.60%	104.45%	58.89%	70.77%	52.02%	45.19%
Slope	15.58%	-32.73%	1.07%	9.70%	4.61%	3.19%	1.06%
CAGR	10.99%	—	11.09%	2.30%	-0.73%	-4.57%	-1.86%
LSR	—	—	—	—	—	—	—
Property, Plant & Equipment
Avg YoY	-100.00%	-99.40%	-813.61%	-555.21%	-555.21%	-555.21%	-555.21%
Slope	31.60%	-46.72%	7.47%	17.35%	17.26%	15.84%	14.33%
CAGR	23.84%	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Goodwill
Avg YoY	—	—	—	-31.68%	-16.73%	-16.84%	11.82%
Slope	—	—	—	-32.06%	-18.96%	-17.39%	-11.03%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Intangible Assets
Avg YoY	-100.00%	-49.97%	-26.57%	-20.73%	-20.73%	-20.73%	-20.73%
Slope	-0.04%	16.67%	-4.31%	5.82%	10.79%	11.70%	11.46%
CAGR	-0.02%	—	1.39%	—	—	—	—
LSR	—	—	—	—	—	—	—
Long-Term Investments
Avg YoY	0.08%	-2.82%	1.48%	0.04%	0.04%	0.04%	0.04%
Slope	0.03%	-5.02%	1.46%	6.32%	11.07%	11.89%	11.59%
CAGR	0.03%	-3.55%	0.99%	—	—	—	—
LSR	0.03%	-4.84%	1.53%	—	—	—	—
Tax Assets
Avg YoY	-100.00%	303.74%	187.63%	132.14%	94.72%	142.59%	142.59%
Slope	26.35%	53.50%	33.84%	13.71%	1.87%	4.91%	6.74%
CAGR	19.43%	—	44.58%	14.74%	5.79%	—	—
LSR	—	—	—	—	—	—	—
Other Non-Current Assets
Avg YoY	4.82%	-0.33%	8.11%	-139.75%	-101.68%	-26.53%	-7.07%
Slope	-4.72%	3.02%	-6.36%	-9.89%	-12.64%	-12.57%	-11.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Assets
Avg YoY	5.86%	-99.25%	-96.85%	-62.70%	-57.08%	-42.19%	-33.82%
Slope	4.77%	22.16%	6.88%	0.99%	-2.26%	-2.60%	-1.05%
CAGR	5.10%	-1.59%	5.99%	3.30%	-0.70%	1.47%	1.94%
LSR	5.10%	—	—	—	—	—	—
Total Non-Current Assets
Avg YoY	3.21%	70.59%	62.60%	41.47%	632.87%	503.46%	417.46%
Slope	2.72%	8.76%	3.17%	1.63%	-0.07%	-0.70%	0.45%
CAGR	2.84%	-1.26%	3.43%	3.29%	-0.71%	1.50%	1.97%
LSR	2.84%	16.52%	1.92%	0.17%	2.48%	-0.39%	0.14%
Total Assets
Avg YoY	3.50%	1.29%	7.15%	5.34%	1.60%	2.46%	3.15%
Slope	3.45%	0.27%	2.63%	3.31%	0.91%	0.06%	0.58%
CAGR	3.50%	1.11%	3.94%	3.19%	-0.71%	0.38%	1.38%
LSR	3.50%	0.28%	3.28%	3.46%	1.04%	0.06%	0.56%
Accounts Payable
Avg YoY	-100.00%	-47.99%	-65.33%	-48.49%	-48.49%	-48.49%	-48.49%
Slope	-150.00%	-24.51%	14.82%	4.58%	10.09%	11.26%	11.15%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Short-Term Debt
Avg YoY	110.58%	74.29%	74.29%	74.29%	74.29%	74.29%	74.29%
Slope	55.15%	55.00%	43.64%	32.68%	25.86%	21.35%	18.15%
CAGR	95.88%	—	—	—	—	—	—
LSR	95.88%	—	—	—	—	—	—
Deferred Revenue
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%
Slope	150.00%	0.00%	-30.78%	-27.00%	-22.67%	-19.31%	-16.74%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Current Liabilities
Avg YoY	43.94%	-2.63%	-35.64%	-43.23%	-45.18%	-45.18%	-45.18%
Slope	38.67%	37.70%	21.67%	-255.90%	-30.49%	-14.69%	-6.86%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Current Liabilities
Avg YoY	-100.00%	-42.73%	-68.81%	-72.71%	-69.35%	-69.35%	-69.35%
Slope	50.05%	40.39%	222.91%	-27.14%	-22.89%	-9.83%	-3.49%
CAGR	41.47%	—	—	—	-18.75%	—	—
LSR	—	—	—	—	—	—	—
Long-Term Debt
Avg YoY	-6.00%	2.15%	1.71%	-0.39%	-1.63%	-0.85%	0.02%
Slope	-6.53%	1.28%	1.98%	-0.52%	-2.03%	-1.85%	-1.14%
CAGR	-6.19%	1.70%	1.39%	-0.78%	-2.08%	-1.36%	-1.28%
LSR	-6.19%	1.35%	2.03%	-0.46%	-1.86%	-1.79%	-1.08%
Capital Lease Obligations
Avg YoY	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%	-100.00%
Slope	-150.00%	0.00%	30.30%	26.79%	22.56%	19.23%	16.69%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	-100.00%	132.71%	116.27%	20.62%	20.62%	9.65%	9.65%
Slope	-150.00%	-51.41%	113.05%	13.67%	15.19%	13.04%	12.39%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Non-Current Liabilities
Avg YoY	-486.91%	-437.59%	30.22%	-36,037.83%	-25,448.04%	-19,681.44%	-16,035.96%
Slope	8.91%	75.00%	21.79%	12.29%	16.22%	19.27%	29.99%
CAGR	5.69%	—	49.46%	—	4.38%	—	—
LSR	—	—	—	—	—	—	—
Total Non-Current Liabilities
Avg YoY	-100.00%	1,521.60%	492.74%	368.07%	325.51%	298.43%	298.43%
Slope	5.01%	50.18%	15.34%	7.47%	7.33%	7.07%	8.24%
CAGR	3.40%	—	28.52%	—	3.05%	—	—
LSR	—	—	—	—	—	—	—
Total Liabilities
Avg YoY	-100.00%	1,250.16%	548.74%	364.01%	296.42%	284.39%	284.39%
Slope	5.49%	50.04%	18.08%	4.85%	-0.21%	3.16%	5.53%
CAGR	3.73%	—	37.24%	—	-1.23%	—	—
LSR	—	—	—	—	—	—	—
Preferred Stock
Avg YoY	-0.02%	1.74%	1.53%	-0.78%	-1.88%	-2.00%	-1.85%
Slope	-0.02%	1.32%	1.58%	-1.01%	-6.32%	-5.74%	-5.10%
CAGR	-0.02%	1.70%	1.39%	-1.07%	-4.47%	-4.36%	-3.99%
LSR	-0.02%	1.35%	1.63%	-0.90%	-4.72%	-5.19%	-5.06%
Common Stock
Avg YoY	-0.02%	1.74%	1.53%	0.78%	0.49%	0.48%	0.59%
Slope	-0.02%	1.32%	1.58%	0.89%	0.60%	0.54%	0.32%
CAGR	-0.02%	1.70%	1.39%	0.66%	0.36%	0.15%	0.32%
LSR	-0.02%	1.35%	1.63%	0.89%	0.59%	0.55%	0.32%
Retained Earnings
Avg YoY	-6.02%	1.03%	9.09%	19.77%	5.76%	-88.31%	-80.49%
Slope	-6.20%	0.41%	8.88%	12.40%	13.02%	14.11%	24.03%
CAGR	-6.10%	0.65%	8.25%	17.29%	—	—	—
LSR	-6.10%	0.45%	10.30%	18.06%	—	—	—
Accumulated OCI
Avg YoY	-5.59%	-65.20%	-51.61%	-82.41%	-36.67%	-25.88%	-21.68%
Slope	9.07%	-370.31%	-525.87%	-45.07%	-21.47%	-13.77%	-11.38%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	—	-100.00%
Slope	—	—	—	—	—	—	-19.35%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	-1.97%	-11.01%	3.46%	8.37%	5.60%	5.46%	942.75%
Slope	-2.56%	-16.64%	2.10%	4.59%	5.46%	4.72%	4.87%
CAGR	-2.63%	-13.61%	0.75%	5.48%	2.52%	2.51%	30.76%
LSR	-2.63%	-15.11%	2.11%	5.16%	6.10%	4.83%	9.70%
Total Equity
Avg YoY	-1.97%	-11.01%	3.46%	8.37%	5.60%	5.46%	28.44%
Slope	-2.56%	-16.64%	2.10%	4.59%	5.46%	4.72%	4.84%
CAGR	-2.63%	-13.61%	0.75%	5.48%	2.52%	2.51%	13.02%
LSR	-2.63%	-15.11%	2.11%	5.16%	6.10%	4.83%	6.75%
Total Liabilities & Equity
Avg YoY	208.71%	162.99%	106.26%	111.71%	75.00%	91.01%	99.24%
Slope	3.72%	25.34%	11.63%	4.76%	1.60%	3.68%	5.29%
CAGR	2.73%	40.13%	20.66%	21.12%	-0.83%	11.11%	20.82%
LSR	2.73%	23.70%	10.51%	5.30%	4.74%	6.45%	9.95%
Tangible Assets
Avg YoY	3.53%	1.12%	7.19%	5.37%	1.62%	2.70%	3.17%
Slope	3.46%	0.20%	2.67%	3.34%	0.93%	0.15%	0.66%
CAGR	3.53%	0.94%	3.96%	3.20%	-0.71%	0.58%	1.39%
LSR	3.53%	0.21%	3.33%	3.49%	1.05%	0.15%	0.64%
Tangible Equity
Avg YoY	-1.39%	-11.75%	3.88%	9.09%	6.35%	11.84%	16.28%
Slope	-2.64%	-17.41%	2.31%	4.84%	5.80%	5.95%	6.15%
CAGR	-2.77%	-14.74%	0.72%	5.74%	2.78%	7.83%	—
LSR	-2.77%	-15.76%	2.33%	5.46%	6.56%	7.12%	—
Tangible Book Value
Avg YoY	-1.39%	-11.75%	3.88%	9.09%	6.35%	11.84%	16.28%
Slope	-2.64%	-17.41%	2.31%	4.84%	5.80%	5.95%	6.15%
CAGR	-2.77%	-14.74%	0.72%	5.74%	2.78%	7.83%	—
LSR	-2.77%	-15.76%	2.33%	5.46%	6.56%	7.12%	—
Total Investments
Avg YoY	-25.69%	8.91%	12.27%	9.53%	524.20%	524.20%	438.34%
Slope	-35.21%	-11.34%	4.35%	4.85%	8.05%	9.95%	10.04%
CAGR	-28.23%	-4.01%	0.99%	1.98%	—	—	—
LSR	-28.23%	-10.91%	4.52%	4.52%	—	—	—
Net Debt
Avg YoY	-46.83%	-28.60%	-27.84%	-217.39%	-137.60%	-122.82%	-116.08%
Slope	-58.99%	-27.03%	50.20%	9.07%	-5.54%	-9.59%	-10.39%
CAGR	-54.35%	-36.51%	—	-11.33%	-7.42%	-7.63%	-8.89%
LSR	-54.35%	-31.64%	—	—	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	-100.00%	-95.88%	-68.46%	-37.76%	-54.62%	-38.31%	-29.80%
Slope	12.02%	-34.21%	2,905.55%	44.87%	22.20%	13.28%	7.58%
CAGR	8.36%	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Capital
Avg YoY	-0.13%	-4.18%	2.00%	1.86%	0.78%	0.69%	1.55%
Slope	-0.23%	-5.95%	2.10%	1.78%	1.32%	0.98%	1.01%
CAGR	-0.23%	-4.79%	1.48%	1.40%	0.33%	0.20%	1.11%
LSR	-0.23%	-5.71%	2.22%	1.79%	1.30%	0.94%	0.99%
Capital Employed
Avg YoY	3.26%	0.86%	19.35%	13.02%	9.00%	7.19%	6.94%
Slope	3.19%	0.05%	13.80%	10.93%	8.08%	6.07%	4.94%
CAGR	3.26%	0.69%	13.94%	9.23%	5.99%	4.65%	4.81%
LSR	3.26%	0.06%	17.93%	11.42%	7.39%	5.09%	3.99%
Invested Capital
Avg YoY	-2.99%	-8.15%	-23.61%	-28.81%	-20.86%	-16.23%	-12.33%
Slope	-3.36%	-10.32%	48.41%	10.78%	1.17%	-0.28%	-0.30%
CAGR	-3.42%	-9.10%	—	1.11%	0.76%	0.13%	0.69%
LSR	-3.42%	-9.74%	—	—	—	—	—

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	-1,253.80%	-658.58%	40.02%	35.97%	50.76%	-0.68%	8.28%
Slope	-298.32%	-140.22%	-21.15%	-10.65%	-0.59%	2.48%	-0.52%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Depreciation & Amortization
Avg YoY	-35.32%	-18.10%	-8.12%	192.83%	622.21%	576.74%	482.25%
Slope	-41.22%	-18.96%	-6.83%	-12.94%	-16.57%	-6.98%	-2.60%
CAGR	-35.89%	-20.50%	-10.43%	0.40%	-20.22%	-6.33%	-1.68%
LSR	-35.89%	-20.28%	-8.15%	-3.39%	-7.72%	-4.17%	-2.18%
Deferred Income Tax
Avg YoY	-13.72%	-10.99%	-8,007.54%	-5,143.87%	-3,779.18%	-3,023.34%	-2,897.81%
Slope	1.64%	-6.54%	-17.60%	-22.90%	-21.37%	-17.14%	-5.49%
CAGR	-2.02%	-4.54%	—	—	-4.49%	—	—
LSR	-2.02%	6.83%	—	—	—	—	—
Stock-Based Compensation
Avg YoY	-51.00%	-46.71%	-14.21%	-0.20%	-10.79%	-1.93%	-1.93%
Slope	-69.91%	-50.20%	-15.58%	1.60%	6.10%	6.22%	7.66%
CAGR	-71.36%	-59.49%	-31.29%	—	-8.82%	—	—
LSR	-71.36%	-54.17%	-24.68%	—	—	—	—
Change in Working Capital
Avg YoY	88.32%	238.37%	312.29%	304.76%	205.85%	154.14%	25.21%
Slope	58.15%	47.35%	9.00%	11.57%	95.36%	30.71%	17.22%
CAGR	87.95%	123.76%	21.60%	—	—	—	—
LSR	87.95%	99.40%	16.16%	—	—	—	—
Accounts Receivable
Avg YoY	-163.46%	-83.69%	-208.53%	-138.41%	-122.27%	-104.69%	-133.07%
Slope	-66.10%	-1,044.04%	13.10%	-6.15%	-160.41%	6.70%	3.86%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Inventory
Avg YoY	-100.00%	32.70%	32.70%	32.70%	-0.45%	2.04%	-3.34%
Slope	-150.00%	215.62%	21.97%	-3.68%	-25.64%	-16.02%	-10.22%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Accounts Payable
Avg YoY	-100.00%	434.61%	434.61%	434.61%	211.20%	40.93%	339.72%
Slope	-150.00%	-67.94%	13.83%	19.51%	36.77%	-23.52%	-14.73%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	521.24%	305.69%	444.10%	389.50%	287.75%	226.86%	137.00%
Slope	91.02%	72.63%	1.15%	9.90%	29.79%	17.28%	10.88%
CAGR	—	—	21.60%	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-9.58%	-11.64%	-66.15%	-71.60%	-62.03%	-42.70%	28.27%
Slope	-194.94%	77.19%	18.70%	8.27%	-2.56%	-34.86%	-19.15%
CAGR	-86.08%	—	—	—	—	-24.02%	-10.15%
LSR	—	—	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	11.85%	107.53%	112.08%	74.78%	-2,071.95%	-1,640.00%	-1,337.91%
Slope	-17.90%	-12.08%	10.90%	-5.04%	1.50%	-6.19%	-2.50%
CAGR	-13.77%	-13.02%	10.52%	0.50%	-4.28%	-5.10%	—
LSR	-13.77%	-2.34%	—	—	—	—	—
Capital Expenditures (PPE)
Avg YoY	-72.38%	-27.92%	-44.48%	-98.15%	-64.19%	-53.12%	-44.33%
Slope	-34.43%	0.84%	8.47%	10.70%	3.41%	2.90%	4.39%
CAGR	33.60%	0.81%	-2.57%	12.07%	-5.51%	-4.17%	-5.63%
LSR	33.60%	-2.24%	-7.25%	-2.98%	-3.39%	-5.36%	-6.66%
Acquisitions (Net)
Avg YoY	-100.00%	-118.24%	-112.14%	-27.06%	-27.39%	1,741.35%	1,264.81%
Slope	-150.00%	253.58%	-11.25%	-15.87%	-16.99%	-10.55%	-0.47%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	100.00%	38.16%	9.97%	0.77%	1.42%	-8.94%	-8.57%
Slope	15.40%	32.11%	18.52%	7.94%	6.04%	3.93%	1.86%
CAGR	-9.79%	-14.32%	-17.82%	-11.39%	-10.20%	-3.38%	-3.24%
LSR	—	—	—	—	—	—	—
Sales / Maturities of Investments
Avg YoY	-100.00%	-32.22%	5.15%	11.40%	8.42%	37.87%	30.98%
Slope	13.18%	-29.53%	-18.17%	-7.57%	-5.45%	-3.34%	-1.84%
CAGR	9.21%	-9.13%	-16.19%	-10.62%	-9.05%	0.23%	-3.16%
LSR	—	—	—	—	—	—	—
Other Investing Activities
Avg YoY	50.29%	88.82%	98.20%	41.19%	22.85%	-17.75%	27.78%
Slope	75.22%	-91.02%	-5.37%	7.72%	13.62%	8.62%	3.04%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	84.88%	94.92%	63.84%	4.88%	1.97%	-5.82%	-14.58%
Slope	189.96%	-10.44%	11.22%	16.26%	6.76%	12.02%	6.98%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	-25.01%	-25.01%	-25.01%	16.66%	46.56%	42.21%	78.62%
Slope	-37.53%	37.49%	39.39%	114.51%	25.04%	13.21%	-28.20%
CAGR	-29.31%	—	—	—	—	—	-10.38%
LSR	-29.31%	—	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	-25.01%	-25.01%	-25.01%	16.66%	46.56%	42.21%	78.62%
Slope	-37.53%	37.49%	39.39%	114.51%	25.04%	13.21%	-28.20%
CAGR	-29.31%	—	—	—	—	—	-10.38%
LSR	-29.31%	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	65.28%	16.33%	16.08%	-207.39%	-2,896.29%	-2,543.08%	-2,104.96%
Slope	119.31%	39.11%	29.97%	14.94%	6.20%	-1.59%	-1.13%
CAGR	-74.55%	-45.03%	-41.56%	-13.67%	-12.87%	—	—
LSR	-74.55%	-51.77%	-40.15%	-24.07%	—	—	—
Common Stock Issuance
Avg YoY	—	-64.35%	-38.69%	-33.27%	1,388.66%	1,617.65%	1,272.94%
Slope	—	-79.19%	-33.33%	-21.44%	-23.06%	-16.51%	-8.57%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	65.28%	20.03%	16.42%	-210.08%	-3,229.85%	-2,669.19%	-2,203.62%
Slope	119.31%	40.69%	29.80%	14.99%	11.20%	3.07%	1.45%
CAGR	-74.55%	-46.44%	-41.56%	-13.67%	-14.22%	-9.64%	-10.76%
LSR	-74.55%	-52.96%	-40.07%	-24.21%	-8.29%	—	—
Preferred Stock Issuance
Avg YoY	—	—	100.00%	34.34%	50.76%	26.51%	34.68%
Slope	—	—	18.18%	14.50%	17.47%	4.92%	1.20%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	0.02%	-29.08%	-8.37%	-34.96%	-26.19%	-8.90%	-3.17%
Slope	0.02%	-12.05%	-1.33%	2.19%	-2.80%	-5.66%	-5.22%
CAGR	-0.02%	21.28%	1.33%	4.04%	—	—	2.98%
LSR	-0.02%	16.69%	1.18%	-0.14%	—	—	—
Common Dividends Paid
Avg YoY	0.02%	0.00%	11.03%	-10.96%	-10.96%	-10.96%	-10.96%
Slope	0.02%	-25.00%	-1.05%	3.43%	-5.59%	-8.38%	-9.16%
CAGR	-0.02%	—	1.28%	—	—	—	—
LSR	-0.02%	—	—	—	—	—	—
Preferred Dividends Paid
Avg YoY	0.02%	-1.74%	-1.53%	12.35%	15.40%	24.84%	24.95%
Slope	0.02%	-1.32%	-1.58%	0.88%	-0.57%	-3.63%	-2.69%
CAGR	-0.02%	1.70%	1.39%	-1.07%	—	—	0.51%
LSR	-0.02%	1.35%	1.63%	—	—	—	—
Other Financing Activities
Avg YoY	—	—	-37.40%	-94.72%	-95.25%	-95.68%	-77.53%
Slope	—	—	-62.70%	-47.50%	-45.35%	-27.27%	-18.75%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	-40.27%	5.28%	11.90%	-30.47%	-36,804.14%	-29,134.16%	-24,103.89%
Slope	-92.90%	2,461.85%	36.74%	15.88%	8.80%	1.56%	-133.47%
CAGR	-58.61%	—	—	—	—	—	—
LSR	-58.61%	—	—	—	—	—	—
Net Change in Cash
Avg YoY	640.00%	311.53%	411.14%	294.32%	140.74%	176.89%	133.17%
Slope	43.77%	-7.80%	36.72%	32.95%	188.29%	64.81%	-12.25%
CAGR	32.96%	4.88%	—	-0.21%	—	—	-0.91%
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	7.30%	25.76%	15.31%	11.58%	7.33%	9.09%	18.46%
Slope	6.47%	18.55%	8.94%	1.35%	-3.48%	-3.61%	-2.36%
CAGR	6.90%	23.78%	7.74%	3.13%	-1.81%	-0.84%	4.94%
LSR	6.90%	23.47%	9.07%	1.05%	-3.14%	-3.48%	-1.87%
Cash at End of Period
Avg YoY	11.85%	19.35%	17.11%	9.25%	8.15%	9.91%	13.98%
Slope	10.82%	14.22%	11.34%	2.83%	-2.06%	-3.23%	-2.75%
CAGR	10.99%	18.46%	11.09%	2.30%	-0.73%	0.42%	2.69%
LSR	10.99%	16.06%	11.95%	2.45%	-1.75%	-2.97%	-2.62%
Operating Cash Flow
Avg YoY	11.85%	107.53%	112.08%	74.78%	-2,071.95%	-1,640.00%	-1,337.91%
Slope	-17.90%	-12.08%	10.90%	-5.04%	1.50%	-6.19%	-2.50%
CAGR	-13.77%	-13.02%	10.52%	0.50%	-4.28%	-5.10%	—
LSR	-13.77%	-2.34%	—	—	—	—	—
Capital Expenditure
Avg YoY	-72.38%	-27.92%	-44.48%	-98.15%	-64.19%	-53.12%	-44.33%
Slope	-34.43%	0.84%	8.47%	10.70%	3.41%	2.90%	4.39%
CAGR	33.60%	0.81%	-2.57%	12.07%	-5.51%	-4.17%	-5.63%
LSR	33.60%	-2.24%	-7.25%	-2.98%	-3.39%	-5.36%	-6.66%
Free Cash Flow
Avg YoY	10.08%	119.38%	120.83%	115.21%	33.83%	27.28%	60.16%
Slope	-19.58%	-12.45%	12.09%	-4.38%	2.16%	-6.49%	-2.27%
CAGR	-14.99%	-13.49%	11.87%	0.23%	-4.21%	-5.14%	—
LSR	-14.99%	-2.05%	—	—	—	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	-10.22%	-14.09%	1.04%	6.41%	11.04%	141.27%	119.28%
Slope	-11.08%	-14.08%	-0.03%	8.01%	0.60%	0.45%	-0.48%
CAGR	-10.96%	-14.61%	-3.25%	-2.22%	0.58%	-1.24%	0.32%
LSR	-10.96%	-12.98%	-0.14%	—	—	—	—
(-) Tax Adjustment
Avg YoY	-13.78%	-8.88%	63.86%	-38.19%	-28.40%	-32.35%	-34.11%
Slope	-23.63%	-7.90%	2.43%	14.76%	-1.95%	1.21%	3.87%
CAGR	-25.79%	-17.30%	-5.38%	—	-2.63%	-2.15%	—
LSR	-25.79%	-9.96%	2.11%	—	—	—	—
Change In Working Capital
Avg YoY	88.32%	238.37%	312.29%	304.76%	205.85%	154.14%	25.21%
Slope	58.15%	47.35%	9.00%	11.57%	95.36%	30.71%	17.22%
CAGR	87.95%	123.76%	21.60%	—	—	—	—
LSR	87.95%	99.40%	16.16%	—	—	—	—
Capital Expenditure
Avg YoY	-72.38%	-27.92%	-44.48%	-98.15%	-64.19%	-53.12%	-44.33%
Slope	-34.43%	0.84%	8.47%	10.70%	3.41%	2.90%	4.39%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	-59.36%	-44.32%	70.60%	45.05%	42.61%	43.16%	43.37%
Slope	-75.73%	-44.41%	-5.74%	4.75%	-6.74%	-9.05%	-6.57%
CAGR	-64.26%	-49.85%	-22.46%	-18.68%	-12.79%	-13.51%	-7.51%
LSR	-64.26%	-46.65%	-10.73%	—	—	—	—
Net Interest After Taxes
Avg YoY	-40.00%	-25.41%	-16.04%	-4.64%	-4.58%	-2.32%	-3.19%
Slope	-32.08%	-24.28%	-8.93%	0.51%	2.26%	2.77%	2.61%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	-25.01%	-25.01%	-25.01%	16.66%	46.56%	42.21%	78.62%
Slope	-37.53%	37.49%	39.39%	114.51%	25.04%	13.21%	-28.20%
CAGR	-29.31%	—	—	—	—	—	-10.38%
LSR	-29.31%	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	-38.96%	-29.33%	26.34%	20.06%	27.68%	27.81%	25.98%
Slope	-46.34%	-30.31%	-2.14%	5.45%	-5.08%	-8.25%	-6.61%
CAGR	-39.33%	-30.82%	-10.70%	-11.11%	-6.57%	-8.44%	-6.81%
LSR	-39.33%	-28.72%	-3.24%	—	—	—	—