Consulting Services

Category: Industry Averages Base Ticker: EFX

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	2001	2000	1999	1998	1997	1996	1995
Stock Price	17.76	8.45	9.44	11.27	14.78	12.13	11.20	10.06	11.98	11.60	12.02	14.30	13.89	11.45	13.11	13.51	11.56	12.21	19.04	13.52	12.78	11.37	10.88	10.53	10.15	8.19	10.57	10.46	10.40	8.61	4.67
Market Capitalization	609.73M	371.96M	340.58M	360.45M	496.33M	435.69M	501.48M	460.27M	430.44M	459.26M	449.28M	516.67M	530.97M	584.11M	641.45M	560.72M	495.48M	501.92M	746.18M	575.75M	437.37M	368.02M	304.19M	299.58M	303.18M	372.66M	304.66M	277.54M	241.07M	239.57M	147.36M
(-) Cash & Equivalents	43.56M	31.71M	34.08M	36.54M	34.69M	33.70M	26.76M	37.18M	29.03M	37.90M	39.30M	39.86M	39.69M	56.56M	66.09M	51.16M	43.70M	45.00M	43.99M	39.99M	46.04M	22.22M	19.08M	15.06M	20.51M	12.44M	11.83M	13.03M	8.34M	16.31M	4.30M
(+) Total Debt	78.34M	31.06M	31.28M	38.77M	43.10M	48.28M	56.58M	38.44M	40.45M	35.65M	79.71M	97.79M	62.50M	181.62M	191.94M	112.51M	100.73M	109.79M	120.97M	82.62M	90.20M	28.57M	18.51M	18.97M	25.70M	33.71M	27.66M	35.29M	29.44M	8.18M	9.54M
Enterprise Value	746.96M	366.44M	345.70M	432.15M	552.92M	477.71M	528.62M	492.16M	445.24M	491.73M	482.16M	597.05M	549.23M	751.62M	729.90M	606.08M	558.35M	616.14M	851.35M	609.30M	471.30M	381.27M	330.46M	313.48M	304.17M	394.69M	315.80M	295.60M	260.53M	233.11M	152.13M

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	2001	2000	1999	1998	1997	1996	1995
Revenue	264.196M	174.294M	177.862M	176.606M	171.304M	177.298M	228.550M	226.466M	217.308M	205.863M	264.527M	339.645M	323.444M	443.664M	450.398M	426.546M	417.728M	394.168M	443.321M	330.585M	276.954M	218.953M	187.772M	135.785M	206.837M	223.485M	185.685M	155.549M	145.845M	136.503M	58.530M
Cost of Revenue	143.029M	91.938M	100.777M	109.071M	98.218M	85.437M	103.009M	101.491M	94.814M	92.070M	128.916M	147.499M	152.443M	203.674M	201.234M	189.151M	192.341M	195.022M	220.747M	170.068M	144.594M	104.131M	73.789M	55.610M	86.805M	74.305M	60.831M	57.095M	50.300M	44.371M	14.257M
Gross Profit	121.168M	82.356M	77.085M	67.535M	73.086M	91.861M	125.541M	124.975M	122.493M	113.793M	135.611M	192.146M	171.001M	239.990M	249.164M	237.395M	225.387M	199.146M	222.574M	160.517M	132.360M	114.822M	113.983M	80.175M	120.031M	149.180M	124.854M	98.454M	95.545M	92.132M	44.273M
Gross Margin	45.86%	47.25%	43.34%	38.24%	42.66%	51.81%	54.93%	55.18%	56.37%	55.28%	51.27%	56.57%	52.87%	54.09%	55.32%	55.66%	53.96%	50.52%	50.21%	48.56%	47.79%	52.44%	60.70%	59.05%	58.03%	66.75%	67.24%	63.29%	65.51%	67.49%	75.64%
R&D Expenses	0.000M	0.000M	0.013M	0.029M	0.010M	0.028M	0.000M	0.000M	0.005M	0.000M	0.009M	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	0.085M	0.082M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	57.005M	30.760M	33.390M	44.278M	39.973M	47.396M	46.161M	59.368M	58.599M	60.325M	72.820M	78.575M	78.575M	109.866M	85.828M	104.882M	106.470M	86.086M	90.683M	60.846M	55.500M	47.805M	56.306M	25.314M	54.898M	75.343M	63.048M	51.964M	42.611M	36.443M	5.014M
Operating Expenses	57.005M	30.760M	33.403M	44.307M	39.983M	47.424M	46.161M	59.368M	58.604M	60.325M	72.829M	78.575M	78.575M	109.866M	85.828M	104.882M	106.470M	86.086M	90.683M	60.846M	55.500M	47.805M	56.306M	25.314M	54.898M	75.427M	63.131M	51.964M	42.611M	36.443M	5.014M
Operating Income	64.162M	51.596M	43.682M	23.229M	33.103M	44.437M	79.380M	65.607M	63.890M	53.468M	62.782M	113.572M	92.426M	130.125M	163.336M	132.513M	118.918M	113.060M	131.891M	99.671M	76.860M	67.016M	57.677M	54.861M	65.134M	73.753M	61.723M	46.491M	52.934M	55.689M	39.259M
Operating Margin	24.29%	29.60%	24.56%	13.15%	19.32%	25.06%	34.73%	28.97%	29.40%	25.97%	23.73%	33.44%	28.58%	29.33%	36.26%	31.07%	28.47%	28.68%	29.75%	30.15%	27.75%	30.61%	30.72%	40.40%	31.49%	33.00%	33.24%	29.89%	36.29%	40.80%	67.07%
Interest Income	0.156M	0.188M	0.177M	0.119M	0.040M	0.108M	0.087M	0.128M	0.102M	0.122M	0.127M	0.191M	0.190M	0.215M	0.225M	0.218M	0.430M	0.509M	0.690M	0.531M	0.422M	0.070M	0.029M	0.037M	0.261M	0.288M	0.048M	0.017M	0.057M	0.015M	0.032M
Interest Expense	1.822M	1.319M	0.911M	0.793M	0.971M	1.662M	2.227M	1.973M	1.822M	1.882M	4.244M	5.033M	3.845M	8.353M	6.796M	9.576M	5.225M	5.404M	3.843M	1.541M	3.472M	0.989M	0.208M	0.215M	0.023M	0.020M	0.177M	0.210M	0.420M	0.364M	0.097M
Net Interest Income	-1.666M	-1.131M	-0.734M	-0.674M	-0.931M	-1.555M	-2.141M	-1.845M	-1.720M	-1.760M	-4.116M	-4.842M	-3.655M	-8.138M	-6.571M	-9.358M	-4.795M	-4.895M	-3.153M	-1.010M	-3.050M	-0.920M	-0.179M	-0.178M	0.239M	0.268M	-0.129M	-0.194M	-0.363M	-0.350M	-0.064M
Other Income / Expense	-31.870M	-31.125M	-25.763M	-4.109M	-14.163M	-27.809M	-63.027M	-45.166M	-43.070M	-33.399M	-39.441M	-84.730M	-72.250M	-93.239M	-110.984M	-95.910M	-82.741M	-68.037M	-69.692M	-62.092M	-36.669M	-47.607M	-40.700M	-44.641M	-46.275M	-56.692M	-50.739M	-24.759M	-34.091M	-35.356M	-34.698M
Pre-Tax Income	30.626M	19.339M	17.185M	18.446M	18.008M	15.073M	14.213M	18.597M	19.099M	18.308M	19.225M	24.000M	16.521M	28.748M	45.780M	27.245M	31.381M	40.129M	59.047M	36.569M	37.141M	18.490M	16.798M	10.043M	19.097M	17.328M	10.856M	21.538M	18.479M	19.984M	4.496M
Pre-Tax Margin	11.59%	11.10%	9.66%	10.44%	10.51%	8.50%	6.22%	8.21%	8.79%	8.89%	7.27%	7.07%	5.11%	6.48%	10.16%	6.39%	7.51%	10.18%	13.32%	11.06%	13.41%	8.44%	8.95%	7.40%	9.23%	7.75%	5.85%	13.85%	12.67%	14.64%	7.68%
Income Tax Expense	6.431M	4.841M	4.213M	4.688M	3.636M	3.237M	3.317M	4.385M	3.382M	6.151M	7.086M	8.191M	7.482M	10.974M	14.913M	8.422M	9.483M	16.016M	21.457M	14.527M	14.645M	7.108M	4.533M	3.379M	6.817M	7.992M	5.523M	9.206M	8.061M	8.428M	2.226M
Tax Rate	21.00%	25.03%	24.52%	25.42%	20.19%	21.48%	23.34%	23.58%	17.71%	33.60%	35.00%	34.13%	35.00%	35.00%	32.58%	30.91%	30.22%	35.00%	35.00%	35.00%	35.00%	35.00%	26.98%	33.65%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%
Net Income	24.195M	14.498M	12.971M	13.757M	14.372M	11.836M	10.896M	14.212M	15.717M	12.157M	12.139M	15.808M	9.039M	17.774M	30.867M	18.823M	21.898M	24.113M	37.590M	22.042M	22.496M	11.382M	12.265M	6.664M	12.280M	9.336M	5.333M	12.332M	10.419M	11.556M	2.271M
Net Margin	9.16%	8.32%	7.29%	7.79%	8.39%	6.68%	4.77%	6.28%	7.23%	5.91%	4.59%	4.65%	2.79%	4.01%	6.85%	4.41%	5.24%	6.12%	8.48%	6.67%	8.12%	5.20%	6.53%	4.91%	5.94%	4.18%	2.87%	7.93%	7.14%	8.47%	3.88%
EBIT	64.162M	51.596M	43.682M	23.229M	33.103M	44.437M	79.380M	65.607M	63.890M	53.468M	62.782M	113.572M	92.426M	130.125M	163.336M	132.513M	118.918M	113.060M	131.891M	99.671M	76.860M	67.016M	57.677M	54.861M	65.134M	73.753M	61.723M	46.491M	52.934M	55.689M	39.259M
Depreciation & Amortization	8.284M	7.044M	6.647M	6.748M	6.942M	9.304M	9.661M	8.809M	8.173M	8.443M	9.558M	9.731M	9.483M	11.315M	11.456M	11.422M	11.942M	11.636M	12.572M	7.784M	8.233M	7.395M	6.044M	4.306M	8.570M	13.933M	11.831M	9.910M	7.286M	6.341M	2.624M
EBITDA	72.447M	58.640M	50.328M	29.976M	40.044M	53.742M	89.041M	74.416M	72.062M	61.911M	72.340M	123.303M	101.909M	141.440M	174.792M	143.935M	130.859M	124.696M	144.462M	107.455M	85.093M	74.412M	63.721M	59.168M	73.704M	87.686M	73.555M	56.401M	60.220M	62.029M	41.882M
EBITDA Margin	27.42%	33.64%	28.30%	16.97%	23.38%	30.31%	38.96%	32.86%	33.16%	30.07%	27.35%	36.30%	31.51%	31.88%	38.81%	33.74%	31.33%	31.64%	32.59%	32.50%	30.72%	33.99%	33.94%	43.57%	35.63%	39.24%	39.61%	36.26%	41.29%	45.44%	71.56%
NOPAT	50.689M	38.681M	32.972M	17.325M	26.419M	34.894M	60.853M	50.138M	52.576M	35.503M	40.809M	74.808M	60.077M	84.581M	110.128M	91.549M	82.982M	73.489M	85.729M	64.786M	49.959M	43.561M	42.113M	36.403M	42.337M	47.939M	40.120M	30.219M	34.407M	36.198M	25.518M
NOPAT Margin	19.19%	22.19%	18.54%	9.81%	15.42%	19.68%	26.63%	22.14%	24.19%	17.25%	15.43%	22.03%	18.57%	19.06%	24.45%	21.46%	19.86%	18.64%	19.34%	19.60%	18.04%	19.90%	22.43%	26.81%	20.47%	21.45%	21.61%	19.43%	23.59%	26.52%	43.60%
Owner's Earnings	32.480M	21.543M	19.618M	20.505M	21.314M	21.141M	20.556M	23.021M	23.890M	20.600M	21.697M	25.539M	18.522M	29.088M	42.323M	30.244M	33.840M	35.749M	50.162M	29.826M	30.729M	18.778M	18.310M	10.970M	20.851M	23.269M	17.164M	22.242M	17.705M	17.896M	4.894M
Owner's Earnings Margin	12.29%	12.36%	11.03%	11.61%	12.44%	11.92%	8.99%	10.17%	10.99%	10.01%	8.20%	7.52%	5.73%	6.56%	9.40%	7.09%	8.10%	9.07%	11.31%	9.02%	11.10%	8.58%	9.75%	8.08%	10.08%	10.41%	9.24%	14.30%	12.14%	13.11%	8.36%
EPS	0.35	0.18	0.17	0.19	0.20	0.15	0.10	0.10	0.11	0.10	0.14	0.22	0.11	0.15	0.39	0.27	0.31	0.31	0.37	0.23	0.31	0.17	0.18	0.13	0.16	0.14	0.08	0.19	0.16	0.16	0.03
EPS (Diluted)	0.35	0.18	0.17	0.19	0.20	0.15	0.10	0.10	0.11	0.10	0.14	0.22	0.11	0.15	0.39	0.27	0.31	0.31	0.37	0.23	0.31	0.17	0.18	0.13	0.16	0.14	0.08	0.19	0.16	0.16	0.03
Shares (Diluted)	68,404,287	80,064,457	76,362,437	70,942,682	73,646,020	79,225,142	110,077,986	139,404,914	143,169,719	117,451,170	85,209,428	71,079,988	81,979,967	121,215,501	79,858,582	69,301,959	70,681,012	78,166,988	101,653,242	94,457,615	72,175,321	67,394,362	69,503,724	51,209,636	78,447,911	66,734,000	63,137,798	63,667,295	64,165,766	72,297,908	74,388,969

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	2001	2000	1999	1998	1997	1996	1995
Cash & Cash Equivalents	49.95M	31.71M	34.08M	36.69M	37.49M	34.23M	26.76M	37.18M	29.03M	37.90M	39.84M	41.10M	42.21M	56.56M	66.09M	51.16M	43.70M	45.00M	43.99M	39.99M	46.04M	22.22M	20.26M	15.06M	20.51M	12.44M	11.83M	13.03M	8.34M	16.31M	4.30M
Short-Term Investments	4.02M	5.79M	4.25M	2.00M	1.30M	1.63M	1.25M	0.79M	3.12M	6.36M	1.69M	2.70M	9.17M	5.36M	5.96M	12.71M	6.62M	2.13M	19.41M	16.05M	11.64M	4.87M	2.60M	1.85M	5.07M	14.75M	16.59M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	53.97M	37.51M	38.32M	38.69M	38.80M	35.86M	28.01M	37.98M	32.15M	44.26M	41.53M	43.80M	51.37M	61.92M	72.04M	63.88M	50.33M	47.12M	63.40M	56.04M	57.68M	27.09M	22.86M	16.91M	25.58M	27.19M	28.42M	13.03M	8.34M	16.31M	4.30M
Net Receivables	115.02M	50.81M	43.77M	53.97M	50.14M	43.55M	42.58M	42.28M	37.04M	43.11M	60.60M	71.13M	61.50M	66.85M	79.02M	55.43M	40.89M	48.77M	74.49M	73.02M	47.78M	31.40M	23.07M	17.96M	24.32M	40.91M	41.60M	34.11M	29.41M	23.10M	17.88M
Inventory	0.48M	0.35M	0.21M	0.27M	0.25M	0.17M	0.43M	0.48M	0.47M	0.45M	1.33M	1.81M	1.58M	2.74M	0.76M	0.93M	0.63M	2.33M	5.74M	5.84M	1.45M	3.06M	4.93M	3.74M	5.89M	3.69M	2.93M	2.44M	2.62M	2.87M	0.83M
Other Current Assets	11.44M	4.76M	3.68M	4.18M	3.24M	5.71M	5.03M	5.47M	8.62M	6.72M	7.09M	8.95M	10.40M	11.51M	9.49M	7.86M	13.37M	11.47M	10.21M	8.40M	4.32M	12.08M	15.31M	4.32M	12.15M	14.62M	9.86M	16.65M	20.83M	16.23M	16.31M
Total Current Assets	180.90M	93.42M	85.98M	97.11M	92.42M	85.28M	76.05M	86.20M	78.27M	94.55M	110.54M	125.69M	124.85M	143.03M	161.31M	128.10M	105.21M	109.70M	153.84M	143.30M	111.24M	73.63M	66.16M	42.93M	67.95M	86.40M	82.81M	66.24M	61.20M	58.52M	39.31M
Property, Plant & Equipment	71.89M	15.23M	15.77M	21.04M	22.47M	30.46M	31.08M	16.32M	14.82M	16.01M	23.18M	30.64M	34.47M	45.78M	45.64M	46.68M	35.98M	34.71M	38.81M	34.68M	29.21M	22.43M	22.32M	17.87M	32.69M	39.51M	37.31M	36.38M	33.06M	38.14M	15.55M
Goodwill	106.40M	46.08M	41.07M	35.47M	35.92M	62.79M	64.40M	70.47M	44.22M	50.29M	171.21M	185.74M	151.04M	159.04M	144.95M	144.14M	132.88M	121.66M	178.81M	48.69M	29.92M	21.51M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.42M	0.00M	0.00M
Intangible Assets	16.15M	9.76M	11.90M	13.34M	13.76M	14.25M	11.36M	10.23M	9.82M	11.45M	16.42M	21.27M	21.97M	28.74M	34.90M	36.73M	33.04M	32.63M	35.45M	21.26M	15.95M	23.89M	34.35M	31.11M	36.41M	77.54M	62.90M	61.35M	61.82M	15.31M	1.41M
Long-Term Investments	7.92M	5.74M	5.84M	5.02M	2.98M	4.92M	3.50M	2.50M	2.86M	1.82M	3.60M	3.74M	3.60M	2.35M	2.36M	4.14M	3.38M	3.57M	0.47M	0.96M	3.10M	0.14M	0.00M	0.00M	0.35M	0.02M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	2.84M	0.94M	1.40M	1.51M	1.33M	1.69M	1.61M	1.56M	1.89M	2.84M	4.22M	1.68M	2.18M	3.23M	4.86M	8.08M	7.17M	5.80M	4.78M	4.80M	4.71M	2.64M	2.99M	5.75M	4.95M	2.38M	1.80M	1.27M	1.61M	0.66M	0.63M
Other Non-Current Assets	21.41M	6.07M	5.00M	2.88M	4.45M	3.48M	4.15M	3.46M	5.28M	4.29M	6.02M	6.97M	6.38M	8.47M	8.62M	9.77M	8.12M	6.55M	14.22M	8.95M	3.67M	6.03M	4.87M	4.20M	5.39M	7.58M	3.87M	5.27M	0.63M	0.45M	0.22M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	226.61M	83.83M	80.98M	79.26M	80.91M	117.59M	116.09M	104.53M	78.88M	86.71M	224.63M	250.04M	219.64M	247.60M	241.35M	249.53M	220.58M	204.91M	272.54M	119.33M	86.56M	76.64M	64.53M	58.93M	79.80M	127.03M	105.88M	104.27M	97.55M	54.55M	17.81M
Total Assets	407.51M	177.25M	166.97M	176.37M	173.33M	202.87M	192.14M	190.74M	157.15M	181.26M	335.17M	375.73M	344.49M	390.63M	402.66M	377.63M	325.79M	314.60M	426.38M	262.63M	197.80M	150.27M	130.70M	101.86M	147.75M	213.44M	188.68M	170.51M	158.75M	113.07M	57.12M
Accounts Payable	17.34M	7.27M	7.30M	6.58M	7.27M	6.72M	9.04M	8.31M	8.42M	8.45M	12.58M	12.83M	13.77M	15.24M	9.06M	9.90M	10.14M	12.68M	26.03M	12.00M	12.05M	7.53M	7.97M	4.81M	7.43M	8.12M	9.99M	8.20M	9.77M	6.47M	3.73M
Short-Term Debt	17.57M	4.51M	2.83M	2.62M	3.92M	4.95M	4.51M	4.24M	4.27M	4.06M	5.09M	7.77M	3.99M	4.92M	4.09M	9.20M	13.72M	13.84M	14.80M	11.52M	6.83M	6.02M	4.37M	0.76M	7.42M	7.42M	17.42M	3.02M	2.87M	4.51M	4.25M
Tax Payables	0.04M	1.61M	1.80M	1.93M	1.91M	2.55M	1.56M	1.51M	1.59M	1.67M	2.13M	1.33M	1.28M	1.56M	1.27M	0.36M	1.02M	1.49M	3.36M	1.93M	2.23M	1.04M	2.52M	1.51M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	6.50M	0.63M	5.06M	6.24M	9.14M	10.24M	7.24M	7.84M	8.95M	5.89M	4.53M	3.94M	4.29M	4.75M	5.74M	2.58M	2.95M	3.99M	4.05M	16.66M	14.15M	1.31M	0.73M	0.41M	3.96M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	17.72M	15.25M	9.91M	9.28M	7.64M	6.62M	12.28M	8.73M	7.50M	18.17M	21.31M	19.91M	23.97M	31.55M	36.99M	30.70M	34.17M	40.36M	25.88M	23.08M	21.28M	14.43M	11.53M	14.10M	12.08M	41.29M	32.14M	23.65M	19.50M	12.52M	7.69M
Total Current Liabilities	59.17M	29.26M	26.90M	26.65M	29.88M	31.07M	34.63M	30.63M	30.74M	38.25M	45.63M	45.79M	47.30M	58.02M	57.15M	52.74M	61.99M	72.36M	74.11M	65.18M	56.53M	30.32M	27.13M	21.58M	30.90M	56.82M	59.55M	34.86M	32.15M	23.50M	15.67M
Long-Term Debt	38.19M	11.08M	10.46M	16.96M	27.37M	34.17M	39.31M	23.62M	31.40M	30.66M	77.33M	91.10M	82.56M	175.86M	155.60M	91.65M	83.57M	83.12M	108.40M	49.51M	82.55M	24.05M	15.40M	18.03M	19.87M	26.03M	11.14M	32.72M	26.88M	3.65M	6.93M
Capital Lease Obligations	0.40M	9.76M	8.20M	6.91M	8.87M	11.51M	3.88M	0.13M	0.08M	0.02M	0.03M	0.04M	0.08M	0.06M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	3.70M	2.30M	2.29M	2.65M	2.31M	2.21M	2.12M	1.80M	1.74M	2.03M	3.98M	6.88M	5.15M	4.38M	4.80M	2.84M	3.31M	3.90M	8.77M	7.37M	6.40M	1.40M	0.64M	0.54M	2.38M	7.32M	7.62M	7.70M	0.33M	0.40M	0.48M
Other Non-Current Liabilities	4.54M	2.66M	3.33M	3.05M	2.82M	3.19M	2.93M	4.90M	7.67M	7.75M	9.45M	13.41M	11.48M	9.11M	17.45M	23.92M	19.77M	13.65M	12.63M	7.82M	13.55M	3.52M	4.14M	3.26M	1.83M	1.48M	0.55M	0.50M	0.46M	0.11M	0.14M
Total Non-Current Liabilities	46.83M	25.80M	24.27M	29.57M	41.37M	51.08M	48.25M	30.44M	40.88M	40.45M	90.78M	111.43M	99.27M	189.42M	177.85M	118.41M	106.64M	100.68M	129.80M	64.70M	102.50M	28.96M	20.22M	21.84M	24.08M	34.83M	19.31M	40.92M	27.66M	4.17M	7.55M
Total Liabilities	106.00M	55.06M	51.17M	56.22M	71.25M	82.16M	82.88M	61.07M	71.62M	78.71M	136.41M	157.21M	146.57M	247.43M	235.00M	171.15M	168.63M	173.04M	203.90M	129.88M	159.03M	59.28M	47.34M	43.42M	54.98M	91.65M	78.86M	75.79M	59.81M	27.67M	23.21M
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	0.00M	16.20M	9.27M	0.00M	0.00M	0.00M	0.02M
Common Stock	3.63M	3.70M	3.92M	4.08M	4.05M	3.77M	5.78M	6.53M	6.51M	4.67M	6.32M	6.26M	6.74M	7.27M	8.47M	7.19M	6.61M	7.33M	6.94M	7.14M	6.52M	4.76M	8.99M	8.65M	13.22M	15.89M	14.18M	4.21M	1.81M	2.24M	1.78M
Retained Earnings	196.73M	61.62M	60.66M	57.60M	67.42M	66.76M	67.18M	66.24M	58.99M	51.91M	59.06M	84.06M	77.84M	103.35M	90.38M	82.55M	63.85M	72.34M	70.25M	69.72M	39.34M	30.98M	26.93M	25.75M	36.43M	56.75M	53.36M	51.32M	44.77M	42.44M	10.55M
Accumulated OCI	0.65M	1.19M	0.68M	0.51M	0.18M	0.20M	0.43M	-0.78M	0.05M	-1.36M	-1.69M	-1.16M	-0.61M	-6.00M	-4.98M	-3.45M	-1.31M	-11.43M	0.56M	-0.10M	-3.22M	-3.51M	-2.76M	-3.60M	-12.00M	-5.79M	-2.89M	-15.38M	-16.84M	-15.02M	-9.03M
Minority Interest	0.74M	0.43M	0.34M	0.29M	0.18M	0.14M	0.08M	0.18M	0.22M	0.22M	0.30M	0.76M	1.19M	1.53M	1.05M	0.70M	0.82M	1.63M	0.38M	0.63M	0.36M	0.23M	0.19M	0.05M	0.12M	0.07M	0.00M	0.00M	0.03M	0.00M	0.00M
Total Shareholders’ Equity	201.02M	66.52M	65.26M	62.20M	71.65M	70.73M	73.39M	71.99M	65.55M	55.22M	63.69M	89.16M	83.98M	104.62M	93.86M	86.29M	69.14M	68.24M	77.74M	76.76M	42.65M	32.23M	33.16M	30.80M	37.65M	83.05M	73.91M	40.15M	29.74M	29.66M	3.32M
Total Equity	201.75M	66.95M	65.60M	62.49M	71.83M	70.86M	73.48M	72.17M	65.77M	55.44M	63.98M	89.92M	85.17M	106.15M	94.91M	86.98M	69.96M	69.87M	78.13M	77.39M	43.01M	32.45M	33.35M	30.85M	37.77M	83.12M	73.91M	40.15M	29.77M	29.66M	3.32M
Total Liabilities & Equity	307.75M	122.00M	116.77M	118.71M	143.08M	153.02M	156.35M	133.23M	137.40M	134.14M	200.39M	247.14M	231.73M	353.58M	329.92M	258.14M	238.60M	242.91M	282.03M	207.27M	202.04M	91.74M	80.70M	74.27M	92.75M	174.77M	152.77M	115.94M	89.58M	57.33M	26.53M
Tangible Assets	284.97M	121.40M	113.99M	127.56M	123.65M	125.83M	116.38M	110.04M	103.11M	119.51M	147.55M	168.72M	171.49M	202.85M	222.81M	196.77M	159.87M	160.32M	212.11M	192.68M	151.93M	104.87M	96.34M	70.75M	111.33M	135.90M	125.79M	109.16M	96.50M	97.77M	55.71M
Tangible Equity	79.20M	11.10M	12.63M	13.68M	22.16M	-6.17M	-2.28M	-8.53M	11.73M	-6.31M	-123.64M	-117.09M	-87.84M	-81.63M	-84.94M	-93.88M	-95.96M	-84.41M	-136.14M	7.44M	-2.86M	-12.95M	-1.00M	-0.26M	1.36M	5.58M	11.01M	-21.19M	-32.47M	14.36M	1.91M
Tangible Book Value	79.20M	11.10M	12.63M	13.68M	22.16M	-6.17M	-2.28M	-8.53M	11.73M	-6.31M	-123.64M	-117.09M	-87.84M	-81.63M	-84.94M	-93.88M	-95.96M	-84.41M	-136.14M	7.44M	-2.86M	-12.95M	-1.00M	-0.26M	1.36M	5.58M	11.01M	-21.19M	-32.47M	14.36M	1.91M
Total Investments	13.35M	9.46M	7.80M	7.03M	6.06M	6.77M	5.40M	3.95M	7.16M	5.36M	6.41M	9.24M	5.46M	6.76M	7.93M	4.21M	8.05M	7.86M	15.54M	11.41M	11.06M	4.43M	1.67M	1.34M	1.62M	1.31M	1.81M	0.01M	0.00M	0.04M	0.05M
Net Debt	5.81M	-16.12M	-20.79M	-17.11M	-6.20M	4.88M	17.06M	-9.32M	6.64M	-3.18M	42.58M	57.77M	44.34M	124.22M	93.60M	49.68M	53.58M	51.96M	79.21M	21.03M	43.34M	7.85M	-0.49M	3.73M	6.78M	21.00M	16.73M	22.70M	21.41M	-8.15M	6.87M

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	2001	2000	1999	1998	1997	1996	1995
Working Capital	84.49M	38.08M	40.54M	43.94M	33.23M	35.25M	30.35M	41.18M	46.71M	50.97M	41.44M	65.81M	48.80M	66.69M	64.72M	58.27M	48.58M	37.12M	53.09M	66.73M	63.11M	41.67M	38.02M	27.55M	61.36M	44.61M	21.61M	32.84M	32.54M	30.41M	10.58M
Total Capital	260.72M	141.77M	144.93M	150.87M	177.69M	178.09M	182.61M	172.41M	192.61M	156.68M	238.41M	267.90M	266.52M	420.38M	446.90M	323.67M	328.54M	261.17M	287.75M	243.98M	212.73M	137.00M	130.76M	120.51M	149.36M	170.28M	109.92M	134.44M	125.89M	93.98M	33.48M
Capital Employed	337.61M	153.30M	152.85M	152.52M	170.38M	168.94M	169.30M	167.73M	203.97M	145.05M	266.60M	305.39M	284.26M	575.62M	432.67M	373.14M	341.49M	263.75M	321.22M	320.85M	279.17M	142.36M	135.72M	119.13M	135.75M	167.24M	135.12M	142.69M	137.67M	85.82M	27.68M
Invested Capital	210.77M	110.06M	110.85M	114.18M	140.20M	143.86M	155.85M	135.23M	163.58M	118.78M	198.57M	226.80M	224.32M	363.82M	380.82M	272.51M	284.84M	216.18M	243.76M	203.99M	166.69M	114.78M	110.50M	105.46M	128.85M	157.84M	98.09M	121.40M	117.56M	77.66M	29.18M

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	2001	2000	1999	1998	1997	1996	1995
Depreciation & Amortization	9.10M	7.39M	7.29M	7.11M	7.06M	8.60M	8.15M	6.76M	5.59M	8.12M	9.73M	10.98M	10.15M	12.97M	11.52M	11.36M	11.88M	11.58M	12.37M	7.75M	8.94M	7.40M	6.50M	4.95M	14.98M	13.93M	12.91M	10.75M	7.29M	6.34M	2.62M
Deferred Income Tax	0.35M	0.00M	-0.71M	-0.46M	-0.43M	-0.46M	-0.53M	0.01M	-0.07M	0.26M	-0.35M	-0.73M	-0.21M	-0.62M	-0.56M	-0.14M	-1.03M	-0.72M	-0.83M	-0.92M	0.30M	0.11M	0.02M	-0.08M	-0.11M	2.93M	-0.09M	-0.08M	-0.07M	0.09M	0.23M
Stock-Based Compensation	2.60M	0.75M	0.98M	1.14M	0.71M	0.38M	0.91M	1.53M	1.70M	2.07M	2.52M	3.69M	2.52M	4.92M	3.44M	4.65M	4.17M	3.01M	4.89M	2.00M	0.62M	0.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	0.85M	-3.00M	-4.03M	-3.78M	-1.13M	1.05M	-1.13M	-1.69M	-2.43M	-1.09M	-1.40M	-2.24M	-0.04M	-2.55M	-0.45M	-1.76M	2.88M	-1.80M	-2.54M	-2.39M	-2.44M	-2.98M	0.82M	-0.13M	-3.20M	2.37M	-1.88M	-2.56M	-4.93M	0.73M	-1.22M
Accounts Receivable	-4.79M	-3.43M	-4.87M	-5.11M	-2.97M	-0.30M	-3.77M	-3.41M	-3.93M	-2.76M	-1.84M	-3.81M	-1.87M	-1.56M	-2.51M	-0.81M	0.00M	0.00M	-1.71M	-1.40M	-2.50M	-1.19M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	0.00M	-0.01M	-0.07M	-0.01M	0.02M	-0.03M	-0.07M	-0.11M	0.01M	-0.06M	0.17M	0.09M	-0.19M	0.00M	-0.07M	0.20M	0.01M	-0.14M	0.00M	-0.07M	-0.10M	-0.06M	0.23M	0.74M	0.11M	-0.14M	0.12M	0.05M	-0.11M	-0.09M
Accounts Payable	1.79M	0.37M	0.17M	1.02M	0.78M	0.34M	0.93M	0.92M	0.40M	0.72M	0.11M	0.00M	0.00M	-0.11M	0.00M	0.00M	0.00M	0.00M	0.42M	0.39M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-1.51M	0.84M	0.17M	-0.09M	0.80M	0.11M	0.46M	-0.22M	0.36M	-0.28M	0.39M	-0.91M	0.63M	0.00M	4.22M	-0.47M	0.47M	-2.02M	0.06M	-1.51M	-1.81M	0.35M	-0.78M	1.12M	-4.21M	2.71M	1.24M	-4.72M	-4.39M	1.19M	-1.01M
Other Non-Cash Items	2.50M	1.02M	0.70M	-0.02M	1.51M	1.91M	0.93M	1.68M	1.12M	0.80M	1.30M	-1.03M	-1.00M	1.06M	4.53M	0.35M	1.53M	1.71M	0.61M	-1.42M	2.56M	1.54M	1.43M	0.98M	2.25M	-1.35M	-1.13M	-0.36M	0.50M	-2.15M	1.06M
Net Cash from Operating Activities	47.86M	20.62M	17.86M	17.48M	19.40M	22.84M	18.25M	19.91M	16.69M	25.91M	31.56M	43.27M	36.67M	40.17M	46.33M	39.83M	42.19M	40.87M	43.67M	31.35M	31.79M	16.01M	11.95M	10.05M	19.63M	28.27M	17.29M	23.10M	14.22M	16.65M	4.49M
Capital Expenditures (PPE)	-6.46M	-3.57M	-1.96M	-3.40M	-3.71M	-4.72M	-6.45M	-5.04M	-4.60M	-5.03M	-6.27M	-7.32M	-8.89M	-13.21M	-14.66M	-9.32M	-10.10M	-12.61M	-14.20M	-12.01M	-8.20M	-6.08M	-4.52M	-3.82M	-11.14M	-11.67M	-15.20M	-19.36M	-11.33M	-8.67M	-6.60M
Acquisitions (Net)	0.00M	-1.67M	-1.25M	-1.64M	-1.84M	-1.79M	-1.67M	-1.65M	-1.76M	-0.64M	-1.93M	-1.64M	-4.08M	-13.11M	-14.94M	-17.11M	-10.57M	-21.39M	-13.58M	-15.90M	-16.96M	-4.29M	-6.85M	-1.86M	-1.35M	-9.56M	0.01M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	-0.65M	-1.33M	-0.54M	-0.44M	-0.51M	-0.81M	-0.33M	-0.47M	-1.05M	-2.62M	-1.54M	-0.56M	-1.42M	-2.90M	-0.74M	-2.12M	-1.89M	-10.20M	-2.38M	-3.27M	-0.20M	-0.15M	-0.04M	-0.09M	0.00M	-1.93M	-0.80M	-2.59M	-0.10M	-0.10M
Sales / Maturities of Investments	0.00M	0.50M	0.48M	0.18M	0.48M	0.49M	0.66M	0.44M	0.53M	0.27M	0.73M	0.23M	0.97M	2.24M	1.13M	2.30M	1.70M	2.98M	2.75M	0.62M	3.85M	4.04M	0.45M	0.00M	0.76M	0.59M	0.98M	1.84M	5.60M	1.46M	0.00M
Other Investing Activities	-0.68M	-0.07M	-0.16M	-0.04M	0.01M	-0.16M	-0.09M	-0.24M	-0.45M	-0.13M	-0.25M	-0.18M	-0.40M	0.06M	-0.33M	0.76M	-0.13M	0.39M	-0.05M	0.19M	-0.20M	-0.63M	-0.29M	-0.86M	0.74M	1.87M	-0.95M	-0.06M	-13.97M	-2.73M	-0.60M
Net Cash from Investing Activities	-17.78M	-11.39M	-9.93M	-9.16M	-5.84M	-7.67M	-12.42M	-7.93M	-10.14M	-13.59M	-16.26M	-17.71M	-16.70M	-26.05M	-32.75M	-19.49M	-32.86M	-43.04M	-39.48M	-35.82M	-27.32M	-13.61M	-9.33M	-10.99M	-14.54M	-29.63M	-19.44M	-17.44M	-26.15M	-11.99M	-6.42M
Net Debt Issuance	-3.61M	0.46M	-0.39M	-0.53M	-1.55M	0.06M	-0.65M	-0.27M	4.08M	-0.03M	-5.20M	2.76M	0.23M	2.76M	-1.39M	0.36M	-10.13M	15.21M	0.96M	1.58M	8.88M	-0.65M	-0.71M	2.20M	-11.13M	4.96M	-2.59M	9.50M	4.47M	1.25M	2.67M
Long-Term Debt Issuance	-1.31M	0.14M	-0.34M	-0.53M	-1.11M	0.03M	-0.03M	0.84M	0.98M	0.00M	0.14M	0.96M	0.54M	1.25M	-2.83M	0.52M	-6.80M	15.31M	3.23M	1.41M	8.82M	-0.05M	-0.25M	0.58M	-3.93M	2.56M	-3.18M	5.29M	4.83M	-1.00M	0.31M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.07M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.20M	-0.01M	0.00M	-0.05M	0.00M	0.00M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-5.80M	-2.44M	-0.72M	-0.58M	-0.01M	-0.11M	-0.26M	-0.65M	-1.11M	-0.80M	-5.86M	-3.26M	-0.55M	-5.50M	-2.34M	-0.91M	-0.81M	-2.58M	-10.95M	-2.05M	-2.10M	-1.29M	1.16M	2.56M	4.27M	7.15M	2.13M	-8.44M	-7.19M	-3.50M	-0.23M
Common Stock Issuance	0.18M	0.55M	0.21M	0.61M	0.42M	0.35M	0.25M	0.78M	1.57M	0.63M	1.13M	0.16M	0.13M	0.50M	2.89M	1.42M	1.99M	1.65M	5.73M	5.94M	4.87M	2.04M	1.70M	4.58M	18.27M	10.97M	4.69M	5.68M	1.22M	10.32M	5.24M
Common Stock Repurchased	-6.23M	-2.52M	-1.24M	-0.78M	-0.25M	-0.38M	-0.63M	-1.15M	-1.34M	-0.86M	-6.45M	-3.43M	-0.58M	-6.02M	-4.72M	-1.84M	-3.58M	-3.41M	-19.14M	-8.66M	-6.15M	-3.26M	-0.08M	-0.02M	-1.33M	-1.37M	-7.80M	-13.06M	-8.09M	-8.09M	-0.27M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-5.25M	-5.08M	-4.92M	-3.93M	-3.09M	-3.37M	-4.23M	-4.95M	-3.78M	-4.73M	-3.80M	-3.87M	-2.99M	-4.38M	-4.21M	-6.98M	-3.18M	-5.28M	-4.12M	-3.17M	-2.81M	-2.67M	-2.11M	-1.41M	-1.46M	-1.22M	-0.70M	-2.99M	-0.56M	-1.81M	-0.52M
Common Dividends Paid	-5.25M	-5.08M	-5.28M	-4.43M	-3.24M	-3.43M	-4.26M	-4.96M	-3.78M	-4.58M	-3.79M	-3.83M	-2.99M	-4.38M	-4.21M	-6.60M	-3.18M	-5.28M	-4.02M	-2.96M	-2.34M	-1.63M	-2.11M	-0.99M	-1.46M	-1.22M	-0.70M	-2.99M	-0.56M	-1.81M	-0.52M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-2.41M	-1.25M	-0.73M	-0.95M	-1.25M	-1.68M	-0.15M	-0.72M	-0.81M	0.08M	0.24M	2.17M	-0.31M	-0.33M	0.35M	0.94M	1.40M	1.88M	4.98M	0.84M	-0.15M	-0.61M	0.01M	-0.20M	0.48M	0.99M	1.14M	0.42M	0.66M	0.05M	0.89M
Net Cash from Financing Activities	-19.70M	-9.07M	-11.98M	-5.64M	-6.41M	-4.91M	-6.69M	-5.06M	-7.00M	-3.79M	-14.49M	0.52M	-15.83M	-11.42M	-17.55M	-11.15M	-21.95M	2.65M	-10.64M	-4.85M	5.85M	0.38M	-2.38M	5.87M	2.34M	12.58M	-1.76M	6.69M	4.61M	-4.61M	2.27M
Effect of FX on Cash	-0.09M	-0.07M	0.00M	0.01M	-0.02M	0.09M	0.00M	-0.14M	0.04M	-0.07M	-0.36M	-0.06M	-0.21M	0.01M	-0.11M	-0.07M	0.16M	-0.67M	0.17M	0.19M	-0.12M	-0.11M	0.17M	0.05M	-0.06M	0.04M	0.00M	-0.67M	6.20M	-1.83M	0.19M
Net Change in Cash	4.63M	2.46M	-1.12M	1.73M	4.77M	9.78M	1.20M	2.54M	0.31M	4.78M	1.76M	-0.06M	0.02M	1.32M	3.46M	3.61M	-3.28M	0.01M	8.79M	-4.25M	5.82M	4.12M	2.11M	-0.08M	7.89M	0.84M	0.61M	7.44M	2.63M	6.98M	0.83M
Cash at Beginning of Period	23.25M	30.27M	32.92M	32.88M	28.58M	24.16M	21.37M	25.21M	30.22M	31.60M	29.15M	41.85M	36.54M	51.17M	50.17M	47.57M	31.41M	39.13M	36.94M	42.11M	25.18M	17.55M	15.41M	11.46M	11.58M	11.04M	12.67M	8.00M	11.65M	7.39M	1.30M
Cash at End of Period	59.65M	31.12M	33.80M	32.52M	29.63M	32.02M	24.64M	33.73M	25.97M	36.91M	36.73M	41.04M	38.30M	55.69M	65.33M	59.54M	40.32M	44.85M	37.40M	38.47M	42.50M	21.45M	17.25M	13.41M	20.85M	11.50M	11.42M	13.18M	17.57M	11.68M	2.12M
Operating Cash Flow	47.55M	20.59M	18.07M	17.51M	19.40M	22.84M	18.25M	19.91M	16.69M	25.91M	31.56M	43.27M	36.67M	40.17M	46.33M	39.83M	42.19M	40.87M	43.67M	31.35M	31.79M	16.01M	11.95M	10.05M	19.63M	28.27M	17.29M	23.10M	14.22M	16.65M	4.49M
Capital Expenditure	-5.70M	-2.83M	-3.76M	-3.39M	-3.71M	-4.72M	-6.45M	-5.04M	-4.60M	-5.03M	-6.28M	-7.32M	-8.89M	-13.21M	-14.40M	-9.13M	-10.10M	-12.61M	-14.20M	-12.01M	-8.18M	-6.08M	-4.52M	-3.82M	-11.14M	-11.67M	-15.20M	-19.36M	-11.33M	-8.67M	-6.60M
Free Cash Flow	43.70M	15.72M	13.36M	13.14M	13.43M	17.38M	12.42M	12.66M	11.54M	19.81M	26.65M	27.09M	26.92M	29.08M	34.52M	31.62M	30.35M	30.27M	31.54M	20.65M	25.13M	10.75M	8.82M	7.02M	10.41M	16.06M	5.63M	-1.84M	5.32M	7.96M	-0.14M

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	2001	2000	1999	1998	1997	1996	1995
EBITDA	45.46M	29.13M	28.15M	29.10M	27.04M	23.61M	22.34M	27.76M	21.77M	24.36M	26.05M	41.39M	36.40M	65.80M	66.61M	53.68M	43.17M	54.79M	77.94M	46.90M	52.74M	25.72M	25.88M	15.67M	27.49M	29.86M	28.04M	32.57M	27.69M	25.77M	7.18M
(-) Tax Adjustment	9.55M	7.29M	6.90M	7.40M	5.46M	5.07M	5.21M	6.55M	3.86M	8.18M	9.60M	14.13M	16.48M	25.12M	21.70M	16.59M	13.04M	21.87M	28.32M	18.63M	20.80M	9.89M	6.98M	5.27M	9.81M	13.77M	14.27M	13.92M	12.08M	10.87M	3.55M
(-) Change In Working Capital	0.85M	-3.00M	-4.03M	-3.78M	-1.13M	1.05M	-1.13M	-1.69M	-2.43M	-1.09M	-1.40M	-2.24M	-0.04M	-2.55M	-0.45M	-1.76M	2.88M	-1.80M	-2.54M	-2.39M	-2.44M	-2.98M	0.82M	-0.13M	-3.20M	2.37M	-1.88M	-2.56M	-4.93M	0.73M	-1.22M
(-) Capital Expenditure	5.70M	2.83M	3.76M	3.39M	3.71M	4.72M	6.45M	5.04M	4.60M	5.03M	6.28M	7.32M	8.89M	13.21M	14.40M	9.13M	10.10M	12.61M	14.20M	12.01M	8.18M	6.08M	4.52M	3.82M	11.14M	11.67M	15.20M	19.36M	11.33M	8.67M	6.60M
Unlevered Free Cash Flow	29.36M	22.01M	21.51M	22.09M	18.99M	12.76M	11.80M	17.87M	15.75M	12.24M	11.57M	22.18M	11.06M	30.02M	30.96M	29.71M	17.15M	22.12M	37.97M	18.66M	26.21M	12.73M	13.56M	6.71M	9.73M	2.05M	0.45M	1.85M	9.21M	5.50M	-1.75M
(-) Net Interest Income After Taxes	-1.32M	-0.85M	-0.55M	-0.50M	-0.74M	-1.22M	-1.64M	-1.41M	-1.42M	-1.17M	-2.60M	-3.19M	-2.00M	-5.03M	-4.43M	-6.47M	-3.35M	-2.94M	-2.01M	-0.61M	-1.85M	-0.57M	-0.13M	-0.12M	0.15M	0.14M	-0.06M	-0.11M	-0.20M	-0.20M	-0.03M
Net Debt Issuance	-3.61M	0.46M	-0.39M	-0.53M	-1.55M	0.06M	-0.65M	-0.27M	4.08M	-0.03M	-5.20M	2.76M	0.23M	2.76M	-1.39M	0.36M	-10.13M	15.21M	0.96M	1.58M	8.88M	-0.65M	-0.71M	2.20M	-11.13M	4.96M	-2.59M	9.50M	4.47M	1.25M	2.67M
Levered Free Cash Flow	27.07M	23.31M	21.67M	22.06M	18.19M	14.04M	12.79M	19.00M	21.24M	13.38M	8.97M	28.12M	13.29M	37.81M	34.00M	36.54M	10.37M	40.27M	40.93M	20.84M	36.94M	12.64M	12.98M	9.03M	-1.55M	6.87M	-2.07M	11.46M	13.89M	6.96M	0.95M