ArcBest Corporation (ARCB)

Analysis: Growth Rates Industry: Trucking Sector: Industrials Live Price: $90.55

Enterprise Value

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Stock Price
Avg YoY	24.96%	47.31%	30.98%	31.08%	21.40%	21.47%	24.53%
Slope	12.28%	11.47%	17.81%	12.68%	7.79%	5.72%	6.44%
CAGR	15.43%	21.61%	17.78%	9.14%	4.08%	7.02%	8.90%
LSR	15.43%	17.06%	20.78%	13.36%	6.50%	4.41%	7.07%
Market Capitalization
Avg YoY	26.50%	47.52%	30.80%	31.02%	21.44%	21.88%	24.13%
Slope	13.37%	12.30%	17.90%	12.49%	7.64%	5.80%	6.49%
CAGR	16.91%	22.46%	17.89%	9.05%	4.11%	7.56%	8.85%
LSR	16.91%	18.00%	20.75%	13.06%	6.33%	4.58%	7.15%
(-) Cash & Equivalents
Avg YoY	10.90%	15.88%	16.91%	15.60%	111.23%	136.34%	138.54%
Slope	-5.78%	-6.19%	3.24%	4.16%	6.89%	7.44%	8.04%
CAGR	-7.15%	-17.42%	-1.66%	1.97%	18.18%	5.11%	6.03%
LSR	-7.15%	-2.15%	2.52%	3.64%	12.97%	11.98%	13.53%
(+) Total Debt
Avg YoY	0.50%	5.01%	10.22%	17.37%	139.35%	103.35%	82.23%
Slope	0.45%	5.83%	8.35%	10.87%	13.26%	9.81%	1.86%
CAGR	0.46%	3.25%	8.97%	14.02%	33.88%	3.40%	-1.20%
LSR	0.46%	6.19%	9.24%	13.62%	35.98%	20.80%	6.16%
Enterprise Value
Avg YoY	21.37%	45.60%	29.39%	25.65%	17.83%	17.23%	13.39%
Slope	12.55%	12.63%	17.43%	13.13%	8.67%	6.29%	5.37%
CAGR	15.25%	23.52%	18.42%	10.40%	4.80%	6.66%	4.21%
LSR	15.25%	18.54%	20.29%	14.02%	7.65%	4.94%	4.21%

Income Statement

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Revenue
Avg YoY	-8.79%	11.01%	6.05%	7.48%	5.07%	4.26%	4.50%
Slope	-9.35%	7.72%	6.77%	6.58%	5.62%	4.87%	4.07%
CAGR	-8.84%	9.19%	5.12%	6.83%	4.35%	3.48%	3.83%
LSR	-8.84%	9.03%	6.87%	6.89%	5.62%	4.77%	3.83%
Cost of Revenue
Avg YoY	-7.28%	10.49%	5.73%	8.23%	35.24%	30.69%	24.10%
Slope	-7.62%	7.94%	6.40%	6.72%	7.62%	7.36%	5.49%
CAGR	-7.30%	9.01%	4.98%	7.45%	8.92%	6.94%	3.61%
LSR	-7.30%	9.16%	6.46%	7.29%	10.24%	9.09%	5.78%
Gross Profit
Avg YoY	-20.76%	19.43%	11.87%	14.87%	8.80%	32.81%	58.58%
Slope	-25.75%	5.57%	10.71%	5.20%	-6.31%	-5.93%	-2.17%
CAGR	-21.88%	11.29%	6.77%	2.23%	-5.87%	-4.57%	8.27%
LSR	-21.88%	8.17%	11.54%	6.08%	-2.60%	-3.95%	0.97%
Gross Margin
Avg YoY	-13.53%	4.42%	3.62%	5.26%	1.58%	31.06%	54.49%
Slope	-16.04%	-1.08%	4.21%	-3.19%	-12.30%	-9.80%	-4.77%
CAGR	-14.30%	1.93%	1.57%	-4.31%	-9.80%	-7.77%	4.28%
LSR	-14.30%	-0.80%	4.38%	-0.76%	-7.79%	-8.32%	-2.76%
SG&A Expenses
Avg YoY	-50.57%	-39.73%	103.65%	186.87%	124.47%	136.86%	122.08%
Slope	-75.43%	-57.17%	8.59%	5.64%	0.29%	-0.31%	0.24%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Operating Expenses
Avg YoY	-16.86%	1.07%	2.07%	0.43%	0.26%	113.01%	149.24%
Slope	-22.46%	1.86%	2.34%	-4.90%	-12.16%	-8.76%	-4.01%
CAGR	-23.20%	-5.04%	-1.28%	-7.44%	-10.92%	-8.69%	2.06%
LSR	-23.20%	0.50%	1.89%	-2.66%	-8.28%	-6.61%	-1.29%
Operating Income (EBIT)
Avg YoY	-7.32%	52.41%	36.14%	-0.05%	-32.10%	-23.85%	-29.77%
Slope	-27.74%	7.92%	18.59%	21.59%	12.74%	5.98%	5.77%
CAGR	-21.29%	25.58%	13.94%	—	2.45%	2.34%	—
LSR	-21.29%	14.45%	23.23%	—	—	—	—
Operating Margin
Avg YoY	-0.14%	31.60%	24.74%	-8.71%	-43.10%	-33.25%	-38.70%
Slope	-17.02%	2.75%	13.07%	20.80%	7.84%	-1.18%	0.45%
CAGR	-13.65%	15.01%	8.40%	—	-1.82%	-1.10%	—
LSR	-13.65%	4.96%	15.31%	—	—	—	—
Interest Income
Avg YoY	129.58%	102.24%	70.68%	47.24%	32.70%	32.70%	32.70%
Slope	38.44%	42.08%	22.94%	19.15%	10.17%	11.31%	11.19%
CAGR	73.20%	33.88%	27.73%	17.65%	—	—	—
LSR	73.20%	61.94%	25.24%	19.71%	—	—	—
Interest Expense
Avg YoY	8.23%	-5.17%	10.21%	11.25%	16.38%	16.38%	16.38%
Slope	7.29%	-5.66%	5.41%	7.77%	10.52%	11.54%	11.34%
CAGR	7.81%	-6.39%	8.25%	8.54%	—	—	—
LSR	7.81%	-4.96%	7.04%	9.10%	—	—	—
Net Interest Income
Avg YoY	-149.70%	-88.54%	-26.34%	-9.28%	-39.49%	-39.49%	-39.49%
Slope	220.33%	153.13%	20.34%	4.91%	-11.14%	-11.93%	-11.62%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Income / Expense
Avg YoY	-256.81%	-135.77%	-42.67%	26.11%	7.94%	50.52%	41.33%
Slope	-147.48%	16.90%	6.97%	-6.07%	-28.98%	-10.72%	2.24%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unusual Items
Avg YoY	-256.81%	-135.77%	-42.67%	26.11%	7.94%	50.52%	41.33%
Slope	147.48%	-16.90%	-6.97%	6.07%	28.98%	10.72%	-2.24%
CAGR	51.35%	13.59%	16.41%	25.98%	—	3.13%	0.45%
LSR	—	—	—	—	—	—	—
EBT excl. Unusual
Avg YoY	-25.37%	56.62%	43.33%	-3.19%	-31.46%	-20.08%	-12.03%
Slope	-35.08%	8.00%	22.07%	23.67%	11.01%	5.53%	7.67%
CAGR	-28.08%	25.59%	12.67%	—	0.19%	2.13%	—
LSR	-28.08%	17.21%	30.27%	—	—	—	—
Pre-Tax Income
Avg YoY	-17.43%	50.65%	36.46%	-1.23%	-32.40%	-22.74%	-19.56%
Slope	-32.04%	7.17%	19.73%	22.10%	11.90%	5.82%	6.68%
CAGR	-24.95%	24.00%	13.01%	—	1.29%	2.22%	—
LSR	-24.95%	14.36%	25.39%	—	—	—	—
Pre-Tax Margin
Avg YoY	-10.68%	28.90%	24.83%	-9.98%	-43.26%	-32.18%	-28.64%
Slope	-21.72%	2.08%	14.38%	21.52%	6.29%	-1.36%	1.69%
CAGR	-17.67%	13.57%	7.51%	—	-2.94%	-1.22%	—
LSR	-17.67%	4.89%	17.33%	—	—	—	—
Income Tax Expense
Avg YoY	-25.44%	47.84%	-35.05%	-27.08%	-42.22%	-30.46%	-26.70%
Slope	-39.43%	5.61%	19.69%	23.52%	6.52%	0.90%	2.80%
CAGR	-30.41%	20.66%	5.56%	—	-2.02%	-0.64%	—
LSR	-30.41%	12.37%	—	—	—	—	—
Net Income
Avg YoY	-22.73%	48.63%	45.13%	-3.62%	-40.24%	-24.65%	-17.56%
Slope	-27.92%	9.85%	20.81%	22.18%	14.22%	8.59%	9.09%
CAGR	-23.62%	25.07%	16.25%	—	2.71%	3.50%	—
LSR	-23.62%	18.54%	27.99%	—	—	—	—
Net Margin
Avg YoY	-15.63%	26.95%	33.32%	-11.52%	-51.81%	-35.52%	-27.83%
Slope	-18.27%	4.94%	15.66%	20.97%	9.87%	2.05%	4.70%
CAGR	-16.21%	14.54%	10.59%	—	-1.57%	0.02%	—
LSR	-16.21%	8.72%	19.77%	—	—	—	—
Depreciation & Amortization
Avg YoY	3.18%	6.01%	5.44%	5.48%	4.89%	4.33%	-1.65%
Slope	3.12%	6.12%	5.27%	5.06%	4.38%	4.39%	6.24%
CAGR	3.18%	5.93%	5.38%	5.35%	4.72%	4.13%	—
LSR	3.18%	6.40%	5.39%	5.23%	4.43%	4.53%	—
EBITDA
Avg YoY	-8.42%	25.39%	15.46%	43.63%	14.17%	12.21%	4.63%
Slope	-16.97%	7.26%	12.74%	13.21%	8.38%	5.20%	5.99%
CAGR	-14.20%	16.09%	9.88%	25.01%	3.20%	2.93%	—
LSR	-14.20%	10.10%	13.89%	18.13%	—	—	—
EBITDA Margin
Avg YoY	-0.70%	10.74%	7.51%	31.05%	4.12%	3.78%	-3.48%
Slope	-6.68%	0.70%	6.35%	7.90%	2.48%	-0.67%	1.81%
CAGR	-5.88%	6.32%	4.53%	17.02%	-1.10%	-0.53%	—
LSR	-5.88%	0.98%	6.57%	10.51%	—	—	—
NOPAT
Avg YoY	-7.32%	52.41%	36.14%	-0.05%	-32.10%	-23.85%	-29.77%
Slope	-27.74%	7.92%	18.59%	21.59%	12.74%	5.98%	5.77%
CAGR	-21.29%	25.58%	13.94%	—	2.45%	2.34%	—
LSR	-21.29%	14.45%	23.23%	—	—	—	—
NOPAT Margin
Avg YoY	-0.14%	31.60%	24.74%	-8.71%	-43.10%	-33.25%	-38.70%
Slope	-17.02%	2.75%	13.07%	20.80%	7.84%	-1.18%	0.45%
CAGR	-13.65%	15.01%	8.40%	—	-1.82%	-1.10%	—
LSR	-13.65%	4.96%	15.31%	—	—	—	—
Owner's Earnings
Avg YoY	-41.95%	4.43%	27.74%	27.58%	706.71%	565.48%	466.65%
Slope	-61.20%	-14.48%	10.90%	11.43%	12.92%	10.35%	13.68%
CAGR	-44.82%	-10.94%	5.58%	9.39%	3.34%	3.62%	—
LSR	-44.82%	-16.40%	12.79%	13.76%	—	—	—
Owner's Earnings Margin
Avg YoY	-36.97%	-10.46%	19.30%	17.80%	714.25%	570.16%	469.23%
Slope	-52.19%	-22.17%	5.47%	6.17%	10.11%	6.39%	14.91%
CAGR	-39.47%	-18.43%	0.44%	2.40%	-0.97%	0.14%	—
LSR	-39.47%	-23.33%	5.54%	6.42%	—	—	—
EPS (Basic)
Avg YoY	-21.07%	50.53%	46.26%	-2.95%	-39.62%	-24.71%	-17.48%
Slope	-25.73%	11.50%	21.61%	22.59%	14.50%	8.23%	9.00%
CAGR	-21.97%	27.46%	17.54%	—	3.11%	2.78%	—
LSR	-21.97%	21.06%	29.26%	—	—	—	—
EPS (Diluted)
Avg YoY	-20.05%	50.72%	45.84%	-3.38%	-40.20%	-25.01%	-18.49%
Slope	-24.45%	12.21%	21.71%	22.62%	14.48%	8.51%	9.29%
CAGR	-20.97%	28.35%	17.65%	—	3.14%	3.30%	—
LSR	-20.97%	22.04%	29.23%	—	—	—	—
Shares (Basic)
Avg YoY	-2.12%	-1.87%	-1.09%	-0.47%	-0.38%	0.78%	1.16%
Slope	-2.14%	-2.10%	-0.98%	-0.39%	-0.12%	0.31%	0.91%
CAGR	-2.12%	-1.88%	-1.10%	-0.48%	-0.38%	0.71%	1.08%
LSR	-2.12%	-2.08%	-0.98%	-0.40%	-0.12%	0.34%	1.00%
Shares (Diluted)
Avg YoY	-3.36%	-2.53%	-1.17%	-0.38%	-0.40%	0.23%	1.18%
Slope	-3.42%	-2.89%	-0.94%	-0.12%	0.04%	0.18%	0.83%
CAGR	-3.36%	-2.56%	-1.19%	-0.40%	-0.41%	0.20%	1.12%
LSR	-3.36%	-2.86%	-0.96%	-0.13%	0.04%	0.18%	0.92%

Product Segments

Metric / Stat	3Y	5Y	10Y	15Y	20Y
Asset Based Segment
Avg YoY	26.57%	11.48%	9.55%	9.55%	9.55%
Slope	19.41%	10.99%	8.23%	8.23%	8.23%
CAGR	23.55%	9.10%	7.94%	7.94%	7.94%
LSR	23.55%	11.18%	8.06%	8.06%	8.06%
Corporate and Other
Avg YoY	7.85%	7.85%	7.85%	7.85%	7.85%
Slope	7.22%	7.22%	7.22%	7.22%	7.22%
CAGR	7.65%	7.65%	7.65%	7.65%	7.65%
LSR	7.65%	7.65%	7.65%	7.65%	7.65%
ArcBest
Avg YoY	72.97%	72.97%	72.97%	72.97%	72.97%
Slope	53.46%	53.46%	53.46%	53.46%	53.46%
CAGR	72.97%	72.97%	72.97%	72.97%	72.97%
LSR	—	—	—	—	—
Asset Based
Avg YoY	23.06%	23.06%	23.06%	23.06%	23.06%
Slope	20.68%	20.68%	20.68%	20.68%	20.68%
CAGR	23.06%	23.06%	23.06%	23.06%	23.06%
LSR	—	—	—	—	—
FleetNet
Avg YoY	44.80%	44.80%	44.80%	44.80%	44.80%
Slope	36.60%	36.60%	36.60%	36.60%	36.60%
CAGR	44.80%	44.80%	44.80%	44.80%	44.80%
LSR	—	—	—	—	—
Arcbest Segment
Avg YoY	-0.06%	4.72%	4.72%	4.72%	4.72%
Slope	-0.16%	3.89%	3.89%	3.89%	3.89%
CAGR	-0.16%	4.56%	4.56%	4.56%	4.56%
LSR	-0.16%	4.07%	4.07%	4.07%	4.07%
Fleetnet Segment
Avg YoY	-5.84%	1.84%	1.84%	1.84%	1.84%
Slope	-6.95%	3.43%	3.43%	3.43%	3.43%
CAGR	-7.10%	0.45%	0.45%	0.45%	0.45%
LSR	-7.10%	3.44%	3.44%	3.44%	3.44%
Emergency And Preventative Maintenance
Avg YoY	8.09%	8.09%	8.09%	8.09%	8.09%
Slope	7.78%	7.78%	7.78%	7.78%	7.78%
CAGR	8.09%	8.09%	8.09%	8.09%	8.09%
LSR	—	—	—	—	—
Freight Transportation
Avg YoY	2.89%	1.59%	1.59%	1.59%	1.59%
Slope	2.65%	2.16%	2.16%	2.16%	2.16%
CAGR	2.74%	1.50%	1.50%	1.50%	1.50%
LSR	2.74%	2.18%	2.18%	2.18%	2.18%
Household Goods Moving Services
Avg YoY	18.70%	14.21%	14.21%	14.21%	14.21%
Slope	17.20%	13.42%	13.42%	13.42%	13.42%
CAGR	18.60%	13.97%	13.97%	13.97%	13.97%
LSR	18.60%	13.97%	13.97%	13.97%	13.97%
Premium Logistics
Avg YoY	-7.07%	-7.07%	-7.07%	-7.07%	-7.07%
Slope	-7.32%	-7.32%	-7.32%	-7.32%	-7.32%
CAGR	-7.07%	-7.07%	-7.07%	-7.07%	-7.07%
LSR	—	—	—	—	—
Transportation Management
Avg YoY	30.65%	30.65%	30.65%	30.65%	30.65%
Slope	26.58%	26.58%	26.58%	26.58%	26.58%
CAGR	30.65%	30.65%	30.65%	30.65%	30.65%
LSR	—	—	—	—	—
All Other Segments and Eliminations
Avg YoY	21.61%	21.61%	21.61%	21.61%	21.61%
Slope	19.50%	19.50%	19.50%	19.50%	19.50%
CAGR	—	—	—	—	—
LSR	—	—	—	—	—
Emergency and Preventative Maintenance
Avg YoY	21.21%	21.21%	21.21%	21.21%	21.21%
Slope	18.91%	18.91%	18.91%	18.91%	18.91%
CAGR	21.17%	21.17%	21.17%	21.17%	21.17%
LSR	21.17%	21.17%	21.17%	21.17%	21.17%
Premium Logistics and Expedited Freight Services
Avg YoY	85.46%	85.46%	85.46%	85.46%	85.46%
Slope	59.88%	59.88%	59.88%	59.88%	59.88%
CAGR	85.46%	85.46%	85.46%	85.46%	85.46%
LSR	—	—	—	—	—
Truck Brokerage and Management
Avg YoY	105.91%	105.91%	105.91%	105.91%	105.91%
Slope	68.55%	68.55%	68.55%	68.55%	68.55%
CAGR	102.18%	102.18%	102.18%	102.18%	102.18%
LSR	102.18%	102.18%	102.18%	102.18%	102.18%

Balance Sheet

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Cash & Cash Equivalents
Avg YoY	10.90%	15.88%	16.91%	15.60%	111.23%	136.34%	138.54%
Slope	-5.78%	-6.19%	3.24%	4.16%	6.89%	7.44%	8.04%
CAGR	-7.15%	-17.42%	-1.66%	1.97%	18.18%	5.11%	6.03%
LSR	-7.15%	-2.15%	2.52%	3.64%	12.97%	11.98%	13.53%
Short-Term Investments
Avg YoY	-56.37%	31.07%	18.88%	15.81%	8.59%	8.59%	8.59%
Slope	-75.51%	-5.06%	1.65%	6.25%	-1.46%	3.88%	6.03%
CAGR	-56.41%	-15.71%	-6.65%	-1.57%	-6.74%	—	—
LSR	-56.41%	-9.02%	-0.74%	5.69%	-1.53%	—	—
Cash & Short-Term Investments
Avg YoY	-22.95%	15.32%	14.52%	13.56%	11.56%	64.55%	79.13%
Slope	-28.28%	-5.86%	2.75%	4.77%	3.79%	6.17%	7.33%
CAGR	-28.14%	-17.11%	-2.82%	1.14%	1.55%	6.04%	6.80%
LSR	-28.14%	-4.37%	2.14%	4.54%	3.45%	10.03%	14.17%
Net Receivables
Avg YoY	-5.22%	14.22%	9.70%	9.85%	7.30%	5.56%	3.18%
Slope	-5.34%	5.31%	9.20%	8.96%	8.01%	6.55%	3.86%
CAGR	-5.22%	10.12%	7.77%	8.58%	5.96%	3.94%	1.68%
LSR	-5.22%	7.00%	9.78%	9.61%	8.28%	6.33%	3.32%
Inventory
Avg YoY	—	—	—	—	—	-100.00%	-37.12%
Slope	—	—	—	—	—	-23.08%	-16.86%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Current Assets
Avg YoY	-41.11%	303.28%	130.48%	79.35%	64.32%	57.21%	44.13%
Slope	-97.24%	9.56%	2.93%	-13.60%	-7.51%	-2.82%	-1.21%
CAGR	-60.71%	29.02%	-13.15%	-13.57%	-6.85%	-0.86%	-6.09%
LSR	-60.71%	31.72%	1.41%	-14.79%	-11.28%	-6.08%	-3.28%
Total Current Assets
Avg YoY	-15.53%	1.33%	4.47%	5.12%	4.65%	5.93%	3.08%
Slope	-16.69%	1.67%	6.61%	6.04%	5.20%	5.64%	4.22%
CAGR	-15.90%	-0.84%	3.10%	3.96%	3.73%	4.14%	1.35%
LSR	-15.90%	1.58%	6.94%	6.16%	5.15%	6.14%	4.19%
Property, Plant & Equipment
Avg YoY	18.09%	15.60%	12.86%	9.26%	7.22%	5.78%	3.51%
Slope	16.63%	15.31%	11.35%	8.97%	6.16%	5.15%	3.53%
CAGR	18.08%	15.16%	12.57%	8.83%	6.75%	5.32%	2.82%
LSR	18.08%	16.34%	11.81%	8.87%	5.58%	4.63%	2.99%
Goodwill
Avg YoY	3.48%	62.27%	27.04%	165.89%	109.13%	83.15%	72.30%
Slope	3.41%	19.41%	17.15%	16.21%	12.03%	7.55%	5.13%
CAGR	3.48%	39.87%	15.00%	—	9.02%	4.32%	—
LSR	3.48%	32.08%	18.05%	—	—	—	—
Intangible Assets
Avg YoY	-8.66%	26.05%	8.15%	212.92%	212.92%	212.92%	178.01%
Slope	-9.02%	6.96%	5.46%	7.72%	11.85%	12.39%	3.04%
CAGR	-8.66%	15.63%	2.83%	—	—	—	-2.78%
LSR	-8.66%	10.75%	5.23%	—	—	—	—
Long-Term Investments
Avg YoY	—	—	—	—	—	-48.53%	153.47%
Slope	—	—	—	—	—	-21.04%	-13.41%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Tax Assets
Avg YoY	27.02%	15.85%	21.32%	21.32%	21.32%	21.32%	21.32%
Slope	23.23%	16.26%	12.89%	19.09%	18.24%	16.47%	14.77%
CAGR	26.88%	14.48%	—	—	—	—	—
LSR	26.88%	16.91%	—	—	—	—	—
Other Non-Current Assets
Avg YoY	-6.43%	8.32%	8.04%	4.91%	1.14%	3.88%	1.72%
Slope	-6.66%	5.78%	7.69%	6.25%	2.65%	0.91%	0.66%
CAGR	-6.43%	7.24%	7.31%	4.32%	-0.32%	2.32%	-0.18%
LSR	-6.43%	6.61%	8.24%	6.27%	2.58%	0.87%	0.71%
Total Non-Current Assets
Avg YoY	11.74%	17.71%	12.13%	10.99%	7.25%	5.25%	3.09%
Slope	11.12%	14.86%	11.59%	9.75%	7.06%	5.24%	3.27%
CAGR	11.73%	17.50%	11.89%	10.45%	6.60%	4.65%	2.27%
LSR	11.73%	16.80%	12.07%	10.04%	6.59%	4.57%	2.64%
Total Assets
Avg YoY	1.93%	11.42%	9.03%	8.29%	5.95%	4.90%	2.59%
Slope	1.90%	10.27%	9.77%	8.35%	6.36%	5.39%	3.61%
CAGR	1.93%	10.99%	8.80%	8.10%	5.68%	4.51%	2.00%
LSR	1.93%	11.45%	10.26%	8.55%	6.07%	5.06%	3.17%
Accounts Payable
Avg YoY	-17.20%	9.10%	7.49%	10.34%	7.81%	6.06%	3.47%
Slope	-18.82%	-1.54%	8.21%	8.99%	8.35%	7.04%	4.41%
CAGR	-17.21%	2.90%	4.38%	8.01%	5.90%	4.30%	1.78%
LSR	-17.21%	-0.63%	8.62%	9.94%	8.83%	6.91%	3.81%
Short-Term Debt
Avg YoY	1.72%	3.82%	7.35%	11.80%	853.86%	669.98%	554.54%
Slope	1.65%	4.50%	3.17%	4.27%	9.03%	8.93%	5.31%
CAGR	1.68%	1.41%	5.26%	6.77%	32.77%	3.97%	1.93%
LSR	1.68%	4.86%	3.31%	4.85%	33.12%	24.87%	10.36%
Tax Payables
Avg YoY	-18.30%	920.72%	1,726.37%	1,300.46%	945.30%	788.52%	716.63%
Slope	-23.68%	19.96%	22.81%	21.49%	7.58%	5.09%	3.02%
CAGR	-20.07%	142.94%	70.45%	32.89%	-0.75%	3.52%	—
LSR	-20.07%	102.08%	56.86%	33.67%	4.76%	—	—
Other Current Liabilities
Avg YoY	1.76%	18.73%	12.65%	10.43%	10.43%	-1.53%	-64.19%
Slope	1.52%	14.26%	11.74%	10.95%	13.66%	13.32%	12.12%
CAGR	1.49%	17.32%	11.39%	—	—	—	10.11%
LSR	1.49%	16.90%	12.39%	—	—	—	—
Total Current Liabilities
Avg YoY	-6.14%	11.81%	9.18%	17.70%	14.95%	10.95%	7.36%
Slope	-6.53%	6.82%	9.33%	9.33%	10.65%	9.75%	7.29%
CAGR	-6.24%	9.93%	8.05%	14.16%	11.36%	7.63%	4.32%
LSR	-6.24%	8.17%	9.86%	10.93%	14.12%	11.58%	7.16%
Long-Term Debt
Avg YoY	-17.78%	-9.25%	-0.65%	14.24%	65.78%	45.56%	34.14%
Slope	-19.31%	-8.56%	-1.68%	6.35%	10.84%	6.77%	-2.03%
CAGR	-17.81%	-10.58%	-2.03%	8.42%	27.05%	-1.03%	-4.98%
LSR	-17.81%	-8.50%	-1.86%	9.22%	31.97%	17.40%	3.49%
Capital Lease Obligations
Avg YoY	17.66%	22.84%	46,947.98%	46,947.98%	46,947.98%	46,947.98%	46,947.98%
Slope	15.74%	21.13%	32.28%	27.66%	23.05%	19.54%	16.90%
CAGR	17.48%	20.17%	—	—	—	—	—
LSR	17.48%	24.36%	—	—	—	—	—
Deferred Tax Liabilities
Avg YoY	20.64%	6.90%	3.25%	15.44%	10.51%	8.15%	6.27%
Slope	17.57%	3.68%	2.03%	4.77%	5.40%	4.23%	2.87%
CAGR	17.98%	4.77%	1.29%	10.95%	4.44%	2.71%	0.55%
LSR	17.98%	3.09%	2.04%	6.61%	6.40%	4.43%	2.88%
Other Non-Current Liabilities
Avg YoY	-35.11%	27.84%	12.13%	9.09%	9.51%	10.41%	9.66%
Slope	-42.80%	1.46%	10.21%	2.76%	1.62%	2.21%	3.40%
CAGR	-40.42%	2.21%	-0.35%	-2.62%	0.08%	2.26%	2.70%
LSR	-40.42%	2.24%	9.57%	2.02%	0.84%	1.81%	3.68%
Total Non-Current Liabilities
Avg YoY	-6.96%	4.52%	7.13%	11.26%	10.74%	5.36%	1.47%
Slope	-7.24%	4.76%	8.51%	8.91%	9.17%	6.72%	1.99%
CAGR	-7.14%	3.63%	6.35%	9.30%	9.22%	3.07%	-0.98%
LSR	-7.14%	5.10%	9.29%	9.93%	10.59%	6.81%	2.24%
Total Liabilities
Avg YoY	-6.66%	7.69%	7.71%	12.98%	11.44%	6.65%	2.78%
Slope	-6.88%	5.82%	8.93%	9.12%	9.91%	8.17%	4.31%
CAGR	-6.67%	6.72%	7.21%	11.47%	10.25%	4.87%	0.85%
LSR	-6.67%	6.58%	9.57%	10.33%	12.12%	8.74%	4.12%
Preferred Stock
Avg YoY	—	—	—	—	—	-100.00%	-22.11%
Slope	—	—	—	—	—	-23.08%	-16.28%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock
Avg YoY	4.51%	3.87%	2.20%	1.30%	1.20%	1.55%	0.41%
Slope	4.42%	4.07%	1.92%	1.02%	0.75%	0.84%	0.53%
CAGR	4.51%	3.84%	2.17%	1.28%	1.18%	1.52%	0.33%
LSR	4.51%	4.13%	1.89%	0.99%	0.73%	0.83%	0.53%
Retained Earnings
Avg YoY	18.83%	28.25%	17.97%	13.09%	9.33%	12.74%	17.83%
Slope	17.04%	23.45%	17.45%	13.10%	7.95%	7.84%	9.13%
CAGR	18.81%	27.85%	17.42%	12.49%	8.21%	11.58%	—
LSR	18.81%	28.54%	18.51%	12.76%	6.53%	7.77%	—
Accumulated OCI
Avg YoY	-65.23%	44.47%	56.12%	39.98%	62.62%	57.55%	57.55%
Slope	-86.07%	-2.30%	56.86%	24.39%	11.97%	3.61%	-0.83%
CAGR	-79.75%	-29.04%	—	—	—	—	—
LSR	-79.75%	-22.16%	—	—	—	—	—
Minority Interest
Avg YoY	—	—	—	—	—	—	-31.66%
Slope	—	—	—	—	—	—	-17.53%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Total Shareholders’ Equity
Avg YoY	18.45%	28.20%	18.90%	14.27%	9.55%	12.86%	17.91%
Slope	16.73%	23.37%	18.10%	14.20%	8.75%	8.29%	9.45%
CAGR	18.43%	27.78%	18.40%	13.55%	8.29%	11.57%	—
LSR	18.43%	28.47%	19.60%	14.39%	7.30%	7.99%	—
Total Equity
Avg YoY	18.45%	28.20%	18.90%	14.27%	9.55%	12.86%	5.90%
Slope	16.73%	23.37%	18.10%	14.20%	8.75%	8.29%	9.00%
CAGR	18.43%	27.78%	18.40%	13.55%	8.29%	11.57%	13.93%
LSR	18.43%	28.47%	19.60%	14.39%	7.30%	7.99%	—
Total Liabilities & Equity
Avg YoY	5.76%	17.23%	12.73%	13.01%	9.58%	8.24%	4.92%
Slope	5.59%	14.48%	13.12%	11.38%	9.36%	8.22%	6.28%
CAGR	5.76%	16.66%	12.37%	12.61%	9.02%	7.53%	3.80%
LSR	5.76%	16.80%	14.07%	12.10%	9.30%	8.05%	5.63%
Tangible Assets
Avg YoY	2.27%	9.02%	8.76%	7.02%	5.37%	4.77%	2.58%
Slope	2.22%	9.16%	9.13%	7.57%	5.57%	4.90%	3.49%
CAGR	2.25%	8.39%	8.43%	6.71%	5.08%	4.35%	1.94%
LSR	2.25%	9.90%	9.65%	7.64%	5.26%	4.65%	3.15%
Tangible Equity
Avg YoY	28.43%	31.77%	26.10%	18.61%	13.67%	-0.53%	-5.09%
Slope	24.40%	27.15%	20.70%	14.69%	7.24%	7.98%	12.14%
CAGR	28.34%	26.32%	23.29%	10.98%	7.64%	—	—
LSR	28.34%	32.14%	23.53%	14.80%	5.38%	—	—
Tangible Book Value
Avg YoY	28.43%	31.77%	26.10%	18.61%	13.67%	-0.53%	-5.09%
Slope	24.40%	27.15%	20.70%	14.69%	7.24%	7.98%	12.14%
CAGR	28.34%	26.32%	23.29%	10.98%	7.64%	—	—
LSR	28.34%	32.14%	23.53%	14.80%	5.38%	—	—
Total Investments
Avg YoY	-56.37%	31.07%	18.88%	15.81%	8.59%	-1.34%	55.16%
Slope	-75.51%	-5.06%	1.65%	6.25%	-1.46%	0.91%	2.91%
CAGR	-56.41%	-15.71%	-6.65%	-1.57%	-6.74%	-3.10%	-2.10%
LSR	-56.41%	-9.02%	-0.74%	5.69%	-1.53%	—	—
Net Debt
Avg YoY	-212.03%	-323.50%	-136.96%	-143.71%	430.98%	419.02%	342.98%
Slope	-43.83%	-1.18%	-8.62%	10.70%	25.71%	6.80%	-9.46%
CAGR	-21.19%	—	4.18%	—	—	-3.55%	-7.35%
LSR	—	—	—	—	—	—	—

Capital Structure

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Working Capital
Avg YoY	-54.42%	9.15%	11.49%	10.59%	12.28%	-18.59%	-26.78%
Slope	-75.11%	-23.52%	-2.57%	-0.38%	0.71%	5.74%	8.71%
CAGR	-78.39%	-54.58%	-27.21%	-18.05%	-10.62%	—	-3.42%
LSR	-78.39%	-41.23%	-11.56%	-4.94%	-1.94%	—	—
Total Capital
Avg YoY	7.88%	12.25%	10.52%	9.21%	6.93%	5.84%	3.37%
Slope	7.53%	12.24%	10.22%	9.02%	6.87%	5.93%	4.25%
CAGR	7.86%	11.68%	10.23%	8.96%	6.59%	5.38%	2.55%
LSR	7.86%	13.31%	10.72%	9.34%	6.59%	5.61%	3.79%
Capital Employed
Avg YoY	4.63%	11.78%	9.34%	8.34%	6.17%	5.43%	2.89%
Slope	4.47%	11.35%	9.91%	8.37%	6.13%	5.30%	3.84%
CAGR	4.61%	11.35%	9.08%	8.10%	5.81%	5.05%	2.19%
LSR	4.61%	12.51%	10.39%	8.52%	5.79%	4.98%	3.44%
Invested Capital
Avg YoY	9.63%	18.02%	12.58%	10.61%	6.90%	6.20%	3.48%
Slope	9.16%	14.83%	11.36%	9.88%	6.87%	5.69%	3.75%
CAGR	9.40%	17.60%	12.13%	9.98%	6.22%	5.40%	2.38%
LSR	9.40%	16.83%	11.90%	10.24%	6.34%	5.14%	3.17%

Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
Net Income
Avg YoY	-20.21%	50.65%	45.81%	56.98%	12.21%	16.44%	24.54%
Slope	-24.61%	12.15%	21.69%	22.61%	14.46%	8.56%	9.32%
CAGR	-21.10%	28.24%	17.61%	—	3.12%	3.28%	—
LSR	-21.10%	21.95%	29.21%	—	—	—	—
Depreciation & Amortization
Avg YoY	6.77%	8.86%	6.77%	5.95%	5.37%	4.22%	8.48%
Slope	6.52%	9.02%	6.34%	5.33%	4.43%	4.30%	6.44%
CAGR	6.77%	8.71%	6.65%	5.78%	5.15%	3.92%	—
LSR	6.77%	9.54%	6.40%	5.36%	4.39%	4.35%	—
Deferred Income Tax
Avg YoY	262.35%	85.29%	49.53%	37.42%	112.89%	749.61%	645.08%
Slope	378.07%	141.56%	-6.66%	113.29%	28.67%	-2.98%	-0.41%
CAGR	—	34.02%	4.77%	—	—	3.17%	—
LSR	—	—	—	—	—	—	—
Stock-Based Compensation
Avg YoY	-2.32%	5.09%	5.67%	6.10%	6.03%	6.03%	6.03%
Slope	-2.52%	4.37%	6.95%	6.12%	7.32%	9.49%	9.92%
CAGR	-2.45%	4.71%	5.18%	5.48%	—	—	—
LSR	-2.45%	4.63%	7.30%	6.24%	—	—	—
Change in Working Capital
Avg YoY	-73.61%	144.38%	103.60%	57.57%	-3,249.15%	-2,578.43%	-2,148.01%
Slope	-141.48%	11.10%	3,882.55%	286.27%	49.26%	22.23%	16.44%
CAGR	—	—	—	4.52%	—	0.70%	-7.17%
LSR	—	—	—	—	—	—	—
Accounts Receivable
Avg YoY	263.69%	-566.80%	-210.04%	-115.31%	166.28%	122.26%	82.10%
Slope	63.72%	858.91%	500.57%	66.22%	50.15%	19.54%	14.30%
CAGR	164.66%	—	—	—	—	—	—
LSR	164.66%	—	—	—	—	—	—
Inventory
Avg YoY	—	100.00%	-144.83%	-1,226.58%	-955.86%	-731.50%	-572.92%
Slope	—	100.00%	27.18%	8.05%	-4.69%	-0.14%	-3.71%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Accounts Payable
Avg YoY	-117.34%	-32.71%	64.34%	72.56%	-771.41%	-606.45%	-491.29%
Slope	-755.97%	-76.33%	12.47%	6.45%	20.85%	15.49%	33.89%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Working Capital
Avg YoY	-1,345.66%	-712.69%	-603.25%	-351.40%	-118.65%	-43.87%	569.86%
Slope	-40.61%	-6.66%	-50.44%	-69.17%	-99.60%	-66.98%	-41.41%
CAGR	32.86%	-0.32%	18.71%	—	6.45%	6.52%	2.36%
LSR	32.86%	—	—	—	—	—	—
Other Non-Cash Items
Avg YoY	-507.48%	-1,719.26%	-719.73%	-316.69%	158.16%	142.45%	100.32%
Slope	-68.74%	-60.64%	-94.01%	-70.16%	-1,282.38%	-835.25%	-23.64%
CAGR	247.12%	308.27%	—	—	7.69%	11.01%	—
LSR	247.12%	255.99%	—	—	—	—	—
Net Cash from Operating Activities
Avg YoY	-18.70%	17.59%	15.37%	33.11%	24.81%	21.90%	28.94%
Slope	-22.26%	7.41%	12.33%	12.15%	7.86%	6.08%	6.17%
CAGR	-19.37%	11.39%	9.05%	19.06%	3.97%	3.21%	—
LSR	-19.37%	9.87%	14.05%	15.28%	8.93%	5.78%	—
Capital Expenditures (PPE)
Avg YoY	-21.18%	-49.62%	-22.62%	-38.90%	-21.91%	-18.66%	-27.99%
Slope	-17.44%	-34.07%	-15.55%	-13.51%	-4.67%	-2.87%	-2.98%
CAGR	20.14%	44.04%	12.38%	21.31%	3.65%	3.32%	4.15%
LSR	20.14%	49.62%	14.04%	14.33%	3.93%	1.77%	2.43%
Acquisitions (Net)
Avg YoY	-100.00%	-565.08%	-162.60%	-417.53%	-322.56%	-310.20%	-299.14%
Slope	-150.00%	47.29%	-6.70%	2.60%	-9.45%	-14.72%	-18.75%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Purchases of Investments
Avg YoY	56.94%	7.49%	-9.31%	-5.98%	2.73%	2.73%	2.73%
Slope	72.25%	21.23%	-3.05%	-5.58%	7.33%	-0.12%	-3.42%
CAGR	-58.57%	-33.43%	-6.80%	-5.19%	-12.25%	—	—
LSR	-58.57%	-25.93%	0.70%	4.46%	-5.07%	—	—
Sales / Maturities of Investments
Avg YoY	76.81%	19.80%	34.17%	17.25%	11.00%	11.00%	11.00%
Slope	3.07%	-11.33%	7.90%	5.41%	-6.48%	0.67%	3.80%
CAGR	5.27%	-23.60%	5.49%	-3.72%	-7.16%	—	—
LSR	5.27%	-10.18%	7.80%	4.96%	-4.52%	—	—
Other Investing Activities
Avg YoY	150.85%	494.54%	195.81%	144.82%	106.15%	118.46%	102.77%
Slope	-27.30%	32.60%	26.04%	17.26%	5.04%	-0.75%	0.68%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Cash from Investing Activities
Avg YoY	-350.51%	-1,200.55%	-520.49%	-380.24%	-267.22%	-244.70%	-204.11%
Slope	18.77%	-9.73%	-8.67%	-9.05%	-4.42%	-4.71%	-4.96%
CAGR	-12.36%	—	5.79%	—	1.57%	3.03%	0.56%
LSR	-12.36%	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	-74.32%	-25.71%	-215.72%	-107.20%	224.63%	118.84%	95.93%
Slope	-49.71%	-3.84%	-13.97%	-16.74%	-17.40%	-8.27%	-8.27%
CAGR	72.56%	7.23%	—	25.04%	24.74%	11.95%	—
LSR	72.56%	2.92%	—	—	—	—	—
Long-Term Debt Issuance
Avg YoY	-72.72%	-24.91%	-111.73%	-89.72%	169.54%	96.35%	85.02%
Slope	-52.69%	-2.36%	-13.83%	-17.20%	-17.60%	-12.65%	-74.19%
CAGR	72.56%	7.23%	—	—	24.74%	—	—
LSR	72.56%	1.03%	—	—	—	—	—
Short-Term Debt Issuance
Avg YoY	100.00%	100.00%	100.00%	70.70%	1,091.01%	1,008.43%	871.75%
Slope	0.00%	-50.00%	-18.74%	-5.24%	-11.91%	16.57%	14.10%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Stock Issuance
Avg YoY	-15.39%	-289.12%	-124.39%	-195.29%	-122.72%	-120.25%	-119.37%
Slope	-9.71%	-25.16%	-28.06%	-26.72%	-19.11%	-16.18%	-14.59%
CAGR	11.32%	88.61%	23.25%	—	13.59%	12.87%	—
LSR	11.32%	69.14%	36.64%	—	—	—	—
Common Stock Issuance
Avg YoY	—	—	—	-79.57%	-16.45%	-25.99%	-32.16%
Slope	—	—	—	-26.35%	-19.99%	-20.34%	-10.80%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Common Stock Repurchased
Avg YoY	-15.39%	-289.12%	-124.39%	-124.39%	-87.78%	-62.10%	-62.10%
Slope	-9.71%	-25.16%	-28.06%	-25.79%	-16.86%	-14.22%	-13.21%
CAGR	11.32%	88.61%	23.25%	—	10.31%	12.87%	—
LSR	11.32%	69.14%	36.64%	—	—	—	—
Preferred Stock Issuance
Avg YoY	—	—	—	—	—	95.18%	95.18%
Slope	—	—	—	—	—	22.91%	12.56%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Dividends Paid
Avg YoY	-5.77%	-12.42%	-7.78%	-11.44%	-5.07%	-0.64%	1.09%
Slope	-5.44%	-12.51%	-6.18%	-9.39%	1.86%	-0.83%	-1.28%
CAGR	5.67%	11.33%	7.01%	10.05%	-0.60%	4.08%	1.66%
LSR	5.67%	13.78%	6.06%	11.02%	-0.44%	—	—
Common Dividends Paid
Avg YoY	-5.77%	-12.42%	-7.78%	-11.44%	-5.07%	-7.61%	-1.17%
Slope	-5.44%	-12.51%	-6.18%	-9.39%	1.86%	-1.66%	-2.02%
CAGR	5.67%	11.33%	7.01%	10.05%	-0.60%	—	1.66%
LSR	5.67%	13.78%	6.06%	11.02%	-0.44%	—	—
Preferred Dividends Paid
Avg YoY	—	—	—	—	—	72.46%	50.90%
Slope	—	—	—	—	—	22.39%	12.95%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Other Financing Activities
Avg YoY	-92.82%	-261.82%	-122.06%	-61.31%	-369.16%	-294.60%	-234.69%
Slope	-60.96%	-25.00%	-30.49%	-80.39%	-16.44%	-33.29%	-18.73%
CAGR	78.71%	—	—	28.41%	24.06%	—	1.88%
LSR	78.71%	—	—	—	—	—	—
Net Cash from Financing Activities
Avg YoY	-40.89%	-38.86%	-80.73%	-23.72%	-26.01%	-86.42%	-74.57%
Slope	-31.44%	-13.64%	-18.86%	-21.26%	-15.30%	-10.24%	-9.22%
CAGR	39.72%	23.46%	40.17%	28.08%	13.35%	14.86%	—
LSR	39.72%	16.63%	28.15%	—	—	—	—
Net Change in Cash
Avg YoY	-101.35%	-96.20%	90.10%	59.61%	634.66%	500.80%	892.75%
Slope	-754.21%	-110.47%	-123.87%	-65.08%	-30.58%	-16.12%	-8.05%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Cash at Beginning of Period
Avg YoY	92.62%	40.07%	22.75%	30.36%	107.33%	135.34%	127.16%
Slope	58.74%	2.29%	5.46%	6.86%	8.32%	8.95%	9.06%
CAGR	91.43%	9.56%	7.14%	14.97%	12.10%	18.43%	14.82%
LSR	91.43%	1.63%	4.15%	7.42%	14.14%	14.74%	14.83%
Cash at End of Period
Avg YoY	10.84%	15.88%	16.92%	15.61%	111.23%	136.35%	141.42%
Slope	-5.81%	-6.19%	3.24%	4.16%	6.89%	7.44%	8.05%
CAGR	-7.18%	-17.42%	-1.66%	1.97%	18.18%	5.11%	6.02%
LSR	-7.18%	-2.15%	2.52%	3.64%	12.98%	11.98%	13.72%
Operating Cash Flow
Avg YoY	-18.70%	17.59%	15.37%	33.11%	24.81%	21.90%	28.94%
Slope	-22.26%	7.41%	12.33%	12.15%	7.86%	6.08%	6.17%
CAGR	-19.37%	11.39%	9.05%	19.06%	3.97%	3.21%	—
LSR	-19.37%	9.87%	14.05%	15.28%	8.93%	5.78%	—
Capital Expenditure
Avg YoY	-26.06%	-52.05%	-23.70%	-39.59%	-22.42%	-19.07%	-28.33%
Slope	-20.70%	-35.84%	-16.46%	-14.01%	-5.05%	-3.14%	-3.18%
CAGR	24.61%	46.69%	13.29%	21.95%	4.04%	3.63%	4.41%
LSR	24.61%	52.69%	14.78%	14.68%	4.12%	1.89%	2.52%
Free Cash Flow
Avg YoY	-58.42%	-5.80%	31.69%	46.45%	37.67%	61.02%	139.61%
Slope	-85.84%	-19.93%	8.43%	10.45%	11.16%	10.04%	10.67%
CAGR	-59.90%	-23.50%	-1.61%	11.54%	3.61%	1.51%	—
LSR	-59.90%	-26.36%	9.50%	13.06%	—	—	—

Free Cash Flow

Metric / Stat	3Y	5Y	10Y	15Y	20Y	25Y	30Y
EBITDA
Avg YoY	-6.21%	357.33%	155.27%	100.93%	71.55%	190.73%	201.76%
Slope	-9.57%	43.67%	10.84%	5.41%	-5.62%	-5.51%	-1.88%
CAGR	-8.55%	—	7.62%	4.24%	-3.17%	-2.65%	14.93%
LSR	-8.55%	—	—	—	—	—	—
(-) Tax Adjustment
Avg YoY	-14.15%	363.18%	160.89%	104.42%	75.03%	198.64%	209.49%
Slope	-17.25%	41.21%	8.75%	1.47%	-9.40%	-7.83%	-3.46%
CAGR	-15.21%	—	1.54%	0.41%	-5.80%	-4.75%	13.54%
LSR	-15.21%	—	—	—	—	—	—
Change In Working Capital
Avg YoY	-73.61%	144.38%	103.60%	57.57%	-3,249.15%	-2,578.43%	-2,148.01%
Slope	-141.48%	11.10%	3,882.55%	286.27%	49.26%	22.23%	16.44%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Capital Expenditure
Avg YoY	-26.06%	-52.05%	-23.70%	-39.59%	-22.42%	-19.07%	-28.33%
Slope	-20.70%	-35.84%	-16.46%	-14.01%	-5.05%	-3.14%	-3.18%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Unlevered Free Cash Flow
Avg YoY	22.20%	594.70%	255.01%	172.11%	126.18%	148.17%	179.48%
Slope	-29.22%	61.64%	1.82%	-0.83%	-9.61%	-8.02%	-3.56%
CAGR	-20.85%	—	5.30%	-0.21%	-5.40%	-4.63%	4.26%
LSR	-20.85%	—	—	—	—	—	—
Net Interest After Taxes
Avg YoY	101.10%	64.07%	10.22%	-1.10%	-29.30%	-29.30%	-29.30%
Slope	206.41%	168.28%	21.38%	4.72%	-10.60%	-11.58%	-11.38%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Net Debt Issuance
Avg YoY	-74.32%	-25.71%	-215.72%	-107.20%	224.63%	118.84%	95.93%
Slope	-49.71%	-3.84%	-13.97%	-16.74%	-17.40%	-8.27%	-8.27%
CAGR	—	—	—	—	—	—	—
LSR	—	—	—	—	—	—	—
Levered Free Cash Flow
Avg YoY	361.25%	262.47%	88.79%	70.78%	51.10%	56.72%	354.11%
Slope	-102.59%	1,869.04%	-25.95%	-16.41%	-17.09%	-11.38%	-5.86%
CAGR	-55.41%	—	-9.30%	-8.89%	-11.63%	-9.60%	-6.68%
LSR	—	—	—	—	—	—	—