Manufacturing - Miscellaneous

Category: Industry Averages Base Ticker: GBUS.MI

Methodology: Industry metrics are calculated using the Top 100 companies by revenue within the industry. Values shown represent averages, not aggregates, and are winsorized at the 80/20 percentile to reduce the impact of extreme outliers. All financials are USD-normalized and intended to reflect the core economic structure of the industry.

Industry Enterprise Value

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Stock Price	1.48	1.46	1.49	1.39	1.23	1.14	0.68	0.77	0.92	0.59	0.43	0.28	0.25	0.22	0.22	0.22	0.13	0.22	0.36	0.30	25.67	32.65	24.05	25.57
Market Capitalization	17.13M	11.77M	11.35M	11.06M	9.25M	8.83M	9.38M	10.72M	11.52M	4.28M	4.81M	2.68M	2.67M	3.06M	1.98M	1.43M	0.72M	1.26M	2.12M	1.86M	405.93M	511.46M	376.46M	405.62M
(-) Cash & Equivalents	0.20M	0.42M	0.41M	0.19M	0.28M	0.12M	0.11M	0.14M	0.16M	0.13M	0.31M	0.29M	0.22M	0.25M	0.08M	0.14M	0.08M	0.07M	0.18M	0.19M	113.61M	215.41M	286.27M	231.46M
(+) Total Debt	2.14M	1.35M	1.63M	1.78M	1.38M	1.49M	1.38M	1.44M	1.49M	1.22M	1.03M	0.96M	0.78M	0.89M	0.69M	0.67M	0.69M	0.35M	0.76M	1.52M	17.53M	0.00M	0.00M	0.00M
Enterprise Value	18.72M	14.87M	16.79M	16.35M	13.89M	10.14M	12.19M	13.17M	15.81M	7.43M	8.72M	5.31M	3.23M	3.92M	2.70M	2.08M	1.78M	1.61M	3.29M	3.22M	309.85M	296.05M	90.19M	174.16M

Industry Income Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Revenue	10.846M	11.149M	12.894M	11.845M	7.513M	7.416M	5.590M	5.013M	4.948M	4.680M	4.432M	4.318M	4.964M	4.566M	3.947M	3.306M	2.943M	2.852M	4.919M	6.396M	687.683M	1,318.976M	1,248.784M	1,289.235M
Cost of Revenue	7.180M	7.939M	9.378M	8.834M	4.986M	5.070M	4.096M	3.736M	3.609M	2.931M	3.100M	3.010M	3.699M	3.144M	2.213M	2.276M	2.209M	1.907M	2.160M	3.632M	338.085M	627.368M	580.329M	601.225M
Gross Profit	3.666M	3.210M	3.517M	3.011M	2.526M	2.347M	1.493M	1.277M	1.338M	1.748M	1.332M	1.308M	1.265M	1.421M	1.734M	1.030M	0.734M	0.946M	2.759M	2.765M	349.597M	691.609M	668.455M	688.010M
Gross Margin	33.80%	28.79%	27.27%	25.42%	33.63%	31.64%	26.72%	25.47%	27.05%	37.36%	30.06%	30.29%	25.48%	31.13%	43.93%	31.16%	24.95%	33.16%	56.09%	43.23%	50.84%	52.44%	53.53%	53.37%
R&D Expenses	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	0.464M	0.414M	0.579M	0.494M	0.411M	0.373M	0.325M	0.235M	0.346M	0.176M	0.297M	0.258M	0.257M	0.293M	0.240M	0.141M	0.170M	0.014M	2.334M	1.317M	198.460M	394.044M	383.402M	390.560M
Operating Expenses	0.464M	0.414M	0.579M	0.494M	0.411M	0.373M	0.325M	0.235M	0.346M	0.176M	0.297M	0.258M	0.257M	0.293M	0.240M	0.141M	0.170M	0.014M	2.334M	1.317M	198.460M	394.044M	383.402M	390.560M
Operating Income	3.202M	2.796M	2.938M	2.517M	2.115M	1.973M	1.168M	1.041M	0.992M	1.572M	1.036M	1.050M	1.008M	1.128M	1.494M	0.889M	0.564M	0.931M	0.424M	1.448M	151.137M	297.565M	285.053M	297.451M
Operating Margin	29.52%	25.08%	22.78%	21.25%	28.16%	26.61%	20.90%	20.77%	20.06%	33.59%	23.37%	24.31%	20.32%	24.70%	37.86%	26.89%	19.17%	32.65%	8.63%	22.64%	21.98%	22.56%	22.83%	23.07%
Interest Income	0.000M	0.014M	0.031M	0.016M	0.019M	0.016M	0.021M	0.017M	0.023M	0.018M	0.027M	0.027M	0.030M	0.007M	0.003M	0.002M	0.001M	0.000M	0.002M	0.006M	2.607M	2.587M	2.458M	3.967M
Interest Expense	0.124M	0.094M	0.119M	0.122M	0.100M	0.107M	0.125M	0.133M	0.136M	0.130M	0.129M	0.056M	0.048M	0.099M	0.063M	0.039M	0.065M	0.042M	0.084M	0.134M	271.362M	500.227M	481.082M	538.545M
Net Interest Income	-0.124M	-0.080M	-0.089M	-0.107M	-0.081M	-0.091M	-0.103M	-0.116M	-0.114M	-0.112M	-0.102M	-0.029M	-0.018M	-0.092M	-0.060M	-0.037M	-0.065M	-0.042M	-0.083M	-0.129M	-268.754M	-497.639M	-478.624M	-534.578M
Other Income / Expense	-2.371M	-1.774M	-1.759M	-1.484M	-1.564M	-1.379M	-0.660M	-0.630M	-0.462M	-1.262M	-0.702M	-0.673M	-0.716M	-0.775M	-1.233M	-0.583M	-0.338M	-0.757M	-0.118M	-1.076M	157.605M	243.742M	228.743M	224.064M
Pre-Tax Income	0.707M	0.942M	1.090M	0.927M	0.470M	0.504M	0.405M	0.295M	0.417M	0.198M	0.232M	0.347M	0.274M	0.261M	0.202M	0.269M	0.161M	0.132M	0.224M	0.243M	39.988M	43.667M	35.172M	-13.064M
Pre-Tax Margin	6.52%	8.45%	8.45%	7.82%	6.26%	6.79%	7.25%	5.89%	8.42%	4.23%	5.24%	8.04%	5.53%	5.71%	5.12%	8.13%	5.47%	4.64%	4.55%	3.80%	5.81%	3.31%	2.82%	-1.01%
Income Tax Expense	0.177M	0.209M	0.228M	0.165M	0.117M	0.117M	0.102M	0.089M	0.133M	0.070M	0.091M	0.119M	0.091M	0.087M	0.065M	0.057M	0.033M	0.038M	0.071M	0.064M	-11.560M	13.198M	7.336M	8.132M
Tax Rate	25.01%	22.14%	20.94%	17.80%	24.87%	23.25%	25.18%	29.99%	31.94%	35.00%	35.00%	34.34%	33.20%	33.23%	32.39%	21.16%	20.38%	29.06%	31.52%	26.38%	0.00%	30.22%	20.86%	0.00%
Net Income	0.530M	0.734M	0.862M	0.762M	0.353M	0.387M	0.303M	0.207M	0.284M	0.128M	0.141M	0.228M	0.183M	0.174M	0.137M	0.212M	0.128M	0.094M	0.153M	0.179M	51.548M	30.469M	27.836M	-21.196M
Net Margin	4.89%	6.58%	6.68%	6.43%	4.70%	5.21%	5.42%	4.12%	5.73%	2.74%	3.18%	5.28%	3.69%	3.81%	3.46%	6.41%	4.36%	3.29%	3.12%	2.80%	7.50%	2.31%	2.23%	-1.64%
EBIT	3.202M	2.796M	2.938M	2.517M	2.115M	1.973M	1.168M	1.041M	0.992M	1.572M	1.036M	1.050M	1.008M	1.128M	1.494M	0.889M	0.564M	0.931M	0.424M	1.448M	151.137M	297.565M	285.053M	297.451M
Depreciation & Amortization	0.289M	0.270M	0.193M	0.178M	0.155M	0.170M	0.152M	0.163M	0.152M	0.128M	0.110M	0.111M	0.105M	0.103M	0.098M	0.081M	0.083M	0.084M	0.117M	0.134M	34.421M	76.148M	80.585M	131.271M
EBITDA	3.491M	3.066M	3.131M	2.695M	2.270M	2.144M	1.321M	1.204M	1.145M	1.699M	1.146M	1.161M	1.113M	1.231M	1.592M	0.970M	0.647M	1.015M	0.542M	1.582M	185.558M	373.713M	365.638M	428.722M
EBITDA Margin	32.19%	27.50%	24.28%	22.75%	30.22%	28.90%	23.63%	24.02%	23.13%	36.32%	25.85%	26.88%	22.43%	26.97%	40.34%	29.35%	22.00%	35.60%	11.02%	24.73%	26.98%	28.33%	29.28%	33.25%
NOPAT	2.401M	2.177M	2.323M	2.069M	1.589M	1.515M	0.874M	0.729M	0.675M	1.022M	0.673M	0.689M	0.674M	0.753M	1.010M	0.701M	0.449M	0.661M	0.291M	1.066M	151.137M	207.626M	225.599M	297.451M
NOPAT Margin	22.14%	19.53%	18.01%	17.47%	21.15%	20.42%	15.64%	14.54%	13.65%	21.83%	15.19%	15.96%	13.57%	16.50%	25.60%	21.20%	15.26%	23.16%	5.91%	16.67%	21.98%	15.74%	18.07%	23.07%
Owner's Earnings	0.819M	1.004M	1.055M	0.940M	0.508M	0.557M	0.455M	0.369M	0.436M	0.256M	0.251M	0.339M	0.288M	0.277M	0.235M	0.293M	0.211M	0.178M	0.271M	0.313M	85.969M	106.617M	108.421M	110.076M
Owner's Earnings Margin	7.55%	9.00%	8.18%	7.94%	6.77%	7.51%	8.15%	7.37%	8.81%	5.46%	5.67%	7.85%	5.80%	6.08%	5.94%	8.87%	7.18%	6.24%	5.50%	4.89%	12.50%	8.08%	8.68%	8.54%
EPS	0.05	0.08	0.10	0.09	0.04	0.04	0.02	0.02	0.02	0.01	0.01	0.02	0.02	0.02	0.01	0.03	0.02	0.02	0.02	0.02	4.94	1.95	1.78	-1.34
EPS (Diluted)	0.05	0.08	0.10	0.09	0.04	0.04	0.02	0.02	0.02	0.01	0.01	0.02	0.02	0.02	0.01	0.03	0.02	0.02	0.02	0.02	4.94	1.95	1.78	-1.34
Shares (Diluted)	10,851,568	8,847,974	8,516,185	8,511,865	8,502,045	9,031,749	12,371,258	12,487,652	11,690,144	11,532,109	11,291,818	10,583,208	9,479,548	10,452,375	10,188,399	8,307,810	7,411,360	5,719,813	8,363,177	11,563,935	10,436,520	15,664,240	15,656,000	15,862,000

Industry Balance Sheet

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Cash & Cash Equivalents	0.12M	0.42M	0.41M	0.19M	0.28M	0.12M	0.11M	0.14M	0.16M	0.13M	0.31M	0.29M	0.22M	0.25M	0.08M	0.14M	0.08M	0.19M	0.18M	0.19M	113.61M	215.41M	286.27M	231.46M
Short-Term Investments	0.31M	0.67M	0.35M	0.62M	0.36M	0.41M	0.30M	0.20M	0.50M	0.34M	0.08M	0.16M	0.21M	0.00M	0.00M	0.00M	0.00M	0.01M	0.03M	0.03M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	0.43M	1.09M	0.76M	0.82M	0.63M	0.53M	0.41M	0.34M	0.66M	0.47M	0.40M	0.45M	0.43M	0.26M	0.08M	0.15M	0.08M	0.20M	0.21M	0.21M	113.61M	215.41M	286.27M	231.46M
Net Receivables	1.65M	1.40M	1.97M	1.85M	1.40M	1.43M	1.50M	1.16M	1.04M	0.77M	0.92M	0.98M	0.65M	0.64M	0.67M	0.47M	0.56M	1.05M	1.12M	1.57M	3.47M	0.00M	0.00M	0.00M
Inventory	1.93M	1.85M	2.43M	2.43M	1.63M	1.42M	1.21M	0.95M	0.98M	0.73M	0.79M	0.77M	0.63M	0.77M	0.62M	0.64M	0.48M	0.94M	0.76M	0.93M	125.14M	246.57M	241.89M	252.70M
Other Current Assets	0.44M	0.29M	0.23M	0.27M	0.27M	0.23M	0.32M	0.44M	0.31M	0.49M	0.35M	0.40M	0.23M	0.60M	0.42M	0.02M	0.17M	0.31M	0.31M	0.27M	106.76M	33.44M	30.62M	32.71M
Total Current Assets	4.45M	4.62M	5.38M	5.37M	3.93M	3.62M	3.44M	2.89M	2.99M	2.46M	2.46M	2.59M	1.94M	2.28M	1.79M	1.27M	1.29M	2.50M	2.40M	2.99M	348.98M	495.42M	558.78M	516.88M
Property, Plant & Equipment	3.44M	3.08M	3.26M	2.96M	2.32M	2.40M	1.83M	1.46M	1.33M	1.10M	0.99M	1.07M	0.89M	1.00M	0.88M	0.83M	0.79M	1.19M	1.03M	1.28M	225.93M	490.75M	478.50M	495.16M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	20.90M	50.60M	54.63M	60.42M
Intangible Assets	0.01M	0.01M	0.01M	0.01M	0.01M	0.01M	0.01M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.01M	0.04M	0.00M	0.00M	0.16M	0.19M	0.97M	3.76M	8.15M	0.02M	0.63M
Long-Term Investments	0.12M	0.07M	0.10M	0.08M	0.08M	0.07M	0.10M	0.04M	0.04M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.02M	0.01M	0.03M	0.02M	0.03M	0.02M	0.01M	0.01M	0.02M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	1.92M	3.44M	3.13M	5.64M
Other Non-Current Assets	0.17M	0.25M	0.16M	0.11M	0.17M	0.14M	0.11M	0.13M	0.06M	0.12M	0.20M	0.10M	0.11M	0.15M	0.09M	0.02M	0.02M	0.02M	0.02M	0.19M	20.28M	18.82M	19.55M	26.35M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	3.75M	3.42M	3.55M	3.18M	2.61M	2.64M	2.05M	1.65M	1.47M	1.27M	1.20M	1.17M	1.00M	1.16M	1.02M	0.84M	0.81M	1.38M	1.24M	2.47M	272.78M	571.77M	555.84M	588.21M
Total Assets	8.20M	8.03M	8.94M	8.55M	6.54M	6.26M	5.49M	4.54M	4.46M	3.73M	3.65M	3.76M	2.93M	3.43M	2.81M	2.12M	2.10M	3.87M	3.65M	5.45M	621.77M	1,067.19M	1,114.61M	1,105.08M
Accounts Payable	0.76M	0.72M	0.84M	0.74M	0.62M	0.62M	0.55M	0.51M	0.64M	0.50M	0.56M	0.47M	0.27M	0.52M	0.17M	0.09M	0.04M	0.46M	0.17M	0.76M	41.06M	74.87M	60.45M	65.01M
Short-Term Debt	1.14M	0.51M	0.77M	0.68M	0.68M	0.83M	0.70M	0.81M	0.82M	0.66M	0.63M	0.62M	0.51M	0.51M	0.25M	0.07M	0.05M	0.13M	0.33M	1.01M	0.15M	0.00M	0.00M	0.00M
Tax Payables	0.00M	0.03M	0.03M	0.02M	0.03M	0.01M	0.02M	0.02M	0.03M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.04M	10.67M	8.46M	10.06M	9.40M
Deferred Revenue	0.00M	0.00M	0.04M	0.05M	0.05M	0.06M	0.02M	0.02M	0.02M	0.02M	0.02M	0.01M	0.01M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	0.36M	0.21M	0.20M	0.19M	0.24M	0.14M	0.17M	0.24M	0.25M	0.25M	0.26M	0.28M	0.26M	0.30M	0.37M	0.15M	0.25M	0.49M	0.26M	0.26M	107.54M	249.49M	322.25M	253.08M
Total Current Liabilities	2.27M	1.47M	1.87M	1.68M	1.62M	1.66M	1.46M	1.59M	1.77M	1.47M	1.46M	1.38M	1.06M	1.36M	0.79M	0.32M	0.34M	1.09M	0.77M	2.07M	159.43M	332.82M	392.76M	327.48M
Long-Term Debt	0.66M	0.46M	0.48M	0.55M	0.54M	0.54M	0.73M	0.65M	0.53M	0.49M	0.40M	0.36M	0.31M	0.32M	0.38M	0.38M	0.51M	0.51M	0.61M	0.50M	17.37M	0.00M	0.00M	0.00M
Capital Lease Obligations	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.06M	0.03M	0.07M	0.08M	0.06M	0.06M	0.07M	0.05M	0.06M	0.08M	0.02M	0.04M	0.05M	0.05M	0.03M	0.04M	0.03M	0.05M	0.07M	0.16M	19.04M	35.62M	25.75M	28.75M
Other Non-Current Liabilities	0.10M	0.09M	0.12M	0.08M	0.08M	0.08M	0.06M	0.04M	0.05M	0.02M	0.03M	0.03M	0.04M	0.02M	0.01M	0.00M	0.01M	0.16M	0.01M	0.03M	3.25M	86.12M	82.97M	164.05M
Total Non-Current Liabilities	0.82M	0.57M	0.67M	0.71M	0.68M	0.68M	0.87M	0.74M	0.64M	0.59M	0.45M	0.43M	0.40M	0.39M	0.42M	0.42M	0.55M	0.73M	0.70M	0.70M	39.66M	121.74M	108.73M	192.80M
Total Liabilities	3.09M	2.04M	2.55M	2.39M	2.29M	2.34M	2.33M	2.33M	2.42M	2.06M	1.91M	1.81M	1.46M	1.75M	1.20M	0.74M	0.89M	1.82M	1.48M	2.77M	199.08M	454.56M	501.49M	520.28M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	0.96M	0.97M	0.91M	0.82M	0.76M	0.76M	0.69M	0.67M	0.67M	0.64M	0.59M	0.51M	0.49M	0.54M	0.49M	0.51M	0.51M	0.57M	0.57M	0.62M	56.85M	113.15M	113.15M	113.15M
Retained Earnings	0.00M	2.85M	3.23M	2.47M	1.65M	0.58M	0.56M	0.86M	1.25M	0.93M	0.43M	0.47M	0.37M	0.57M	0.12M	0.09M	0.02M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	0.00M	0.31M	0.25M	0.31M	0.22M	0.39M	0.38M	0.38M	0.44M	0.27M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.06M	0.11M	0.24M	0.14M	0.00M	0.00M	0.00M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	0.96M	4.13M	4.38M	3.60M	2.63M	1.73M	1.64M	1.91M	2.36M	1.84M	1.03M	0.98M	0.86M	1.12M	0.61M	0.60M	0.54M	0.68M	0.68M	0.86M	56.99M	113.15M	113.15M	113.15M
Total Equity	0.96M	4.13M	4.38M	3.60M	2.63M	1.73M	1.64M	1.91M	2.36M	1.84M	1.03M	0.98M	0.86M	1.12M	0.61M	0.60M	0.54M	0.68M	0.68M	0.86M	56.99M	113.15M	113.15M	113.15M
Total Liabilities & Equity	4.05M	6.17M	6.93M	5.99M	4.93M	4.07M	3.97M	4.25M	4.77M	3.90M	2.94M	2.79M	2.32M	2.87M	1.82M	1.34M	1.43M	2.50M	2.16M	3.63M	256.08M	567.71M	614.64M	633.43M
Tangible Assets	8.19M	8.03M	8.93M	8.54M	6.53M	6.25M	5.49M	4.54M	4.43M	3.73M	3.65M	3.76M	2.93M	3.42M	2.76M	2.12M	2.10M	3.71M	3.46M	4.48M	597.11M	1,008.43M	1,059.96M	1,044.03M
Tangible Equity	0.95M	4.13M	4.37M	3.59M	2.63M	1.72M	1.64M	1.91M	2.33M	1.84M	1.03M	0.98M	0.86M	1.11M	0.57M	0.60M	0.54M	0.52M	0.49M	-0.11M	32.33M	54.40M	58.50M	52.09M
Tangible Book Value	0.95M	4.13M	4.37M	3.59M	2.63M	1.72M	1.64M	1.91M	2.33M	1.84M	1.03M	0.98M	0.86M	1.11M	0.57M	0.60M	0.54M	0.52M	0.49M	-0.11M	32.33M	54.40M	58.50M	52.09M
Total Investments	0.21M	0.19M	0.36M	0.60M	0.28M	0.16M	0.27M	0.09M	0.12M	0.12M	0.04M	0.04M	0.03M	0.02M	0.01M	0.01M	0.01M	0.31M	0.06M	0.06M	13.83M	18.82M	19.55M	26.35M
Net Debt	1.68M	0.55M	0.83M	1.04M	0.95M	1.25M	1.31M	1.32M	1.20M	1.02M	0.72M	0.68M	0.60M	0.58M	0.55M	0.31M	0.48M	0.45M	0.77M	1.32M	-96.09M	-215.41M	-286.27M	-231.46M

Industry Capital

Metric	MRQ	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Working Capital	2.64M	3.35M	4.36M	3.51M	3.55M	2.22M	1.92M	2.00M	2.39M	1.39M	1.01M	1.90M	1.11M	1.04M	1.20M	1.01M	0.83M	2.12M	1.84M	0.89M	206.30M	346.76M	330.90M	355.02M
Total Capital	9.44M	9.30M	8.93M	8.28M	7.33M	6.03M	5.75M	5.03M	5.31M	4.37M	3.54M	3.37M	2.86M	2.94M	2.51M	1.90M	2.05M	2.43M	2.47M	3.07M	441.79M	796.78M	778.01M	750.42M
Capital Employed	8.31M	9.02M	9.52M	9.66M	7.95M	6.52M	6.66M	6.28M	6.06M	3.47M	3.05M	3.22M	2.75M	2.50M	2.47M	2.03M	2.04M	4.09M	3.44M	2.34M	479.08M	918.53M	886.73M	943.22M
Invested Capital	9.32M	8.88M	8.52M	8.08M	7.05M	5.90M	5.64M	4.89M	5.15M	4.23M	3.23M	3.08M	2.64M	2.68M	2.43M	1.75M	1.97M	2.24M	2.29M	2.89M	328.18M	581.38M	491.74M	518.96M

Industry Cash Flow Statement

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Depreciation & Amortization	0.08M	0.27M	0.19M	0.18M	0.15M	0.18M	0.15M	0.16M	0.15M	0.13M	0.11M	0.11M	0.11M	0.10M	0.10M	0.08M	0.09M	0.12M	0.12M	0.13M	34.42M	76.15M	80.58M	131.27M
Deferred Income Tax	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-0.11M	-0.28M	-0.12M	-0.45M	-0.07M	-0.01M	0.06M	-0.12M	-0.07M	-0.01M	-0.20M	-0.22M	-0.07M	-0.13M	-0.08M	-0.10M	-0.01M	0.00M	-0.15M	-0.09M	17.08M	-15.19M	2.02M	51.64M
Accounts Receivable	1.55M	-0.06M	0.03M	-0.13M	-0.04M	0.01M	-0.03M	-0.05M	-0.02M	-0.09M	-0.07M	-0.04M	-0.04M	-0.01M	0.00M	0.00M	-0.01M	0.01M	-0.02M	-0.25M	0.02M	0.00M	0.00M	0.00M
Inventory	0.53M	-0.06M	0.03M	-0.32M	-0.14M	-0.03M	-0.06M	-0.06M	-0.15M	0.03M	-0.09M	-0.05M	0.00M	-0.08M	-0.13M	-0.08M	0.06M	-0.08M	-0.07M	-0.01M	1.73M	-4.68M	10.81M	47.30M
Accounts Payable	0.42M	0.02M	-0.02M	0.06M	0.10M	0.02M	0.02M	0.03M	0.03M	-0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.01M	0.06M	0.04M	0.01M	0.00M	0.00M	0.00M
Other Working Capital	-2.60M	-0.05M	-0.04M	0.02M	0.00M	-0.03M	0.04M	-0.03M	0.00M	0.03M	-0.04M	-0.11M	-0.01M	0.06M	0.06M	-0.02M	-0.02M	0.14M	-0.11M	0.13M	15.31M	-10.51M	-8.79M	4.34M
Other Non-Cash Items	1.12M	0.01M	0.06M	0.02M	0.04M	0.02M	0.07M	0.05M	0.07M	0.01M	0.12M	-0.05M	0.02M	0.02M	-0.03M	-0.01M	0.01M	-0.09M	0.03M	0.04M	-76.35M	8.20M	-3.36M	-33.69M
Net Cash from Operating Activities	2.89M	0.64M	1.27M	0.27M	0.42M	0.58M	0.42M	0.25M	0.33M	0.64M	0.27M	0.28M	0.66M	0.23M	0.11M	0.14M	0.20M	0.30M	0.27M	0.11M	-55.40M	99.63M	107.08M	128.02M
Capital Expenditures (PPE)	-2.27M	-0.47M	-0.39M	-0.33M	-0.37M	-0.17M	-0.28M	-0.19M	-0.18M	-0.14M	-0.18M	-0.21M	-0.13M	-0.20M	-0.22M	-0.14M	-0.12M	-0.45M	-0.26M	-0.18M	38.85M	-68.08M	-53.46M	-82.67M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.01M	0.01M	0.01M	0.00M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	-0.90M	-24.74M	0.00M	-24.93M
Purchases of Investments	0.00M	-0.05M	-0.03M	-0.03M	-0.07M	-0.06M	0.00M	-0.01M	-0.03M	-0.02M	0.00M	0.00M	-0.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.17M	-1.59M	-3.19M	0.00M	-3.51M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	0.04M	0.02M	0.01M	0.01M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.44M	3.20M	7.15M	9.98M
Other Investing Activities	0.32M	0.03M	0.06M	0.02M	0.01M	0.01M	0.03M	0.02M	0.03M	0.02M	0.03M	0.03M	0.03M	0.02M	0.01M	0.01M	0.01M	-0.01M	-0.03M	0.05M	1.64M	2.76M	4.79M	19.37M
Net Cash from Investing Activities	-1.94M	-0.48M	-0.46M	-0.22M	-0.35M	-0.16M	-0.34M	-0.30M	-0.26M	-0.18M	-0.12M	-0.09M	-0.14M	-0.21M	-0.22M	-0.10M	-0.08M	-0.45M	-0.44M	-0.25M	38.44M	-90.05M	-41.52M	-81.76M
Net Debt Issuance	0.21M	0.00M	-0.01M	0.05M	0.01M	-0.08M	-0.02M	0.01M	-0.03M	0.01M	0.04M	0.00M	-0.02M	0.10M	0.10M	-0.02M	-0.02M	0.03M	0.07M	0.33M	-24.10M	-70.74M	-3.21M	41.99M
Long-Term Debt Issuance	0.23M	-0.07M	-0.01M	0.03M	-0.02M	-0.02M	0.01M	0.00M	-0.01M	-0.01M	0.04M	-0.02M	-0.03M	0.07M	0.11M	-0.02M	-0.02M	-0.04M	-0.02M	0.04M	-47.24M	27.32M	-3.21M	41.99M
Short-Term Debt Issuance	-0.01M	0.05M	0.00M	0.01M	-0.02M	0.00M	0.00M	0.00M	0.01M	-0.02M	-0.01M	0.00M	0.01M	0.05M	0.01M	0.00M	0.00M	0.00M	0.00M	0.32M	23.13M	98.06M	0.00M	0.00M
Net Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.51M	0.25M	0.00M	0.00M
Common Stock Issuance	0.00M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.03M	2.51M	0.25M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	0.00M	-0.06M	-0.16M	-0.07M	-0.05M	-0.07M	-0.03M	-0.02M	-0.02M	-0.02M	-0.02M	-0.01M	-0.02M	-0.02M	-0.03M	-0.01M	-0.01M	-0.01M	-0.01M	-0.05M	-5.32M	-9.68M	-9.68M	-17.43M
Common Dividends Paid	0.00M	-0.06M	-0.16M	-0.07M	-0.05M	-0.07M	-0.03M	-0.02M	-0.02M	-0.02M	-0.02M	-0.01M	-0.02M	-0.02M	-0.03M	0.00M	0.00M	-0.01M	-0.01M	-0.05M	-5.32M	-9.68M	-9.68M	-17.43M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-0.82M	-0.06M	-0.08M	-0.05M	-0.04M	-0.04M	-0.05M	-0.07M	-0.01M	-0.09M	-0.15M	-0.09M	-0.05M	-0.04M	-0.03M	-0.02M	-0.03M	0.19M	-0.03M	0.33M	53.79M	0.45M	-0.79M	-0.65M
Net Cash from Financing Activities	-0.61M	0.01M	-0.31M	-0.07M	-0.16M	-0.24M	-0.16M	-0.07M	-0.07M	-0.19M	-0.15M	-0.12M	-0.18M	0.05M	0.12M	-0.06M	-0.02M	1.13M	0.16M	0.51M	26.85M	-79.72M	-13.68M	23.92M
Effect of FX on Cash	0.09M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.58M	-1.45M	1.12M	-1.55M
Net Change in Cash	0.43M	0.08M	0.20M	-0.04M	0.05M	0.00M	0.00M	0.00M	0.01M	0.02M	0.02M	0.04M	0.01M	0.04M	0.01M	0.01M	-0.01M	-0.04M	0.03M	-0.04M	10.49M	-71.58M	53.00M	68.63M
Cash at Beginning of Period	0.00M	0.28M	0.18M	0.21M	0.08M	0.10M	0.13M	0.15M	0.18M	0.30M	0.24M	0.19M	0.20M	0.07M	0.14M	0.07M	0.09M	0.18M	0.19M	0.17M	103.11M	277.81M	224.81M	156.18M
Cash at End of Period	1.80M	0.41M	0.39M	0.18M	0.14M	0.12M	0.10M	0.14M	0.16M	0.26M	0.31M	0.24M	0.29M	0.20M	0.08M	0.09M	0.08M	0.20M	0.16M	0.19M	113.61M	206.23M	277.81M	224.81M
Operating Cash Flow	2.89M	0.64M	1.27M	0.26M	0.42M	0.58M	0.42M	0.25M	0.33M	0.64M	0.27M	0.28M	0.66M	0.23M	0.11M	0.14M	0.20M	0.30M	0.27M	0.11M	-55.40M	99.63M	107.08M	128.02M
Capital Expenditure	-2.27M	-0.47M	-0.39M	-0.35M	-0.36M	-0.17M	-0.28M	-0.19M	-0.18M	-0.14M	-0.18M	-0.21M	-0.13M	-0.20M	-0.22M	-0.14M	-0.12M	-0.45M	-0.26M	-0.18M	38.85M	-68.08M	-53.46M	-82.67M
Free Cash Flow	0.62M	0.26M	0.63M	0.02M	0.16M	0.35M	0.08M	0.07M	0.19M	0.41M	0.11M	0.11M	0.55M	0.07M	-0.07M	0.04M	0.00M	0.09M	0.01M	-0.16M	-16.54M	31.55M	53.61M	45.35M

Industry Free Cash Flow

Metric	TTM	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
EBITDA	1.09M	1.39M	1.39M	1.17M	0.95M	0.73M	0.68M	0.65M	0.90M	0.45M	0.44M	0.64M	0.38M	0.36M	0.25M	0.50M	0.27M	0.26M	0.50M	0.50M	319.13M	620.04M	596.84M	656.75M
(-) Tax Adjustment	0.27M	0.31M	0.29M	0.21M	0.24M	0.17M	0.17M	0.19M	0.29M	0.16M	0.17M	0.22M	0.12M	0.12M	0.08M	0.11M	0.05M	0.07M	0.16M	0.13M	-92.26M	187.41M	124.48M	-408.80M
(-) Change In Working Capital	-0.11M	-0.28M	-0.12M	-0.45M	-0.07M	-0.01M	0.06M	-0.12M	-0.07M	-0.01M	-0.20M	-0.22M	-0.07M	-0.13M	-0.08M	-0.10M	-0.01M	0.00M	-0.15M	-0.09M	17.08M	-15.19M	2.02M	51.64M
(-) Capital Expenditure	2.27M	0.47M	0.39M	0.35M	0.36M	0.17M	0.28M	0.19M	0.18M	0.14M	0.18M	0.21M	0.13M	0.20M	0.22M	0.14M	0.12M	0.45M	0.26M	0.18M	38.85M	68.08M	53.46M	82.67M
Unlevered Free Cash Flow	-1.34M	0.89M	0.82M	1.06M	0.42M	0.40M	0.17M	0.38M	0.51M	0.16M	0.29M	0.43M	0.19M	0.17M	0.03M	0.35M	0.10M	-0.27M	0.24M	0.28M	355.46M	379.74M	416.87M	931.24M
(-) Net Interest Income After Taxes	-0.09M	-0.06M	-0.07M	-0.09M	-0.06M	-0.07M	-0.08M	-0.08M	-0.08M	-0.07M	-0.06M	-0.02M	-0.01M	-0.06M	-0.04M	-0.03M	-0.05M	-0.03M	-0.06M	-0.09M	-346.45M	-347.23M	-378.80M	-867.33M
Net Debt Issuance	0.21M	0.00M	-0.01M	0.05M	0.01M	-0.08M	-0.02M	0.01M	-0.03M	0.01M	0.04M	0.00M	-0.02M	0.10M	0.10M	-0.02M	-0.02M	0.03M	0.07M	0.33M	-24.10M	-70.74M	-3.21M	41.99M
Levered Free Cash Flow	-1.04M	0.96M	0.89M	1.20M	0.49M	0.39M	0.23M	0.47M	0.56M	0.24M	0.39M	0.45M	0.19M	0.33M	0.17M	0.36M	0.14M	-0.21M	0.36M	0.70M	677.80M	656.23M	792.46M	1,840.57M