Grayscale Ethereum Mini Trust (ETH)

Analysis: Margins & Ratios Industry: Asset Management - Cryptocurrency Sector: Financial Services Live Price: $31.12

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	684,084,000	711,036,600	721,607,500	723,650,000	758,541,400	791,145,280	771,930,100	607,296,000	613,183,000	614,649,000	646,221,000	791,382,000	817,762,000	685,169,000	589,837,000	746,684,000	766,784,000	763,385,000	794,202,000	754,600,000	746,659,000	729,083,000	729,373,000	678,960,000	590,054,000	674,277,000	980,045,000	1,005,312,000	1,066,390,000	949,012,000	955,107,000	907,264,000	892,288,000	904,133,000	856,171,000	762,200,000	679,300,000	571,800,000	509,800,000
Cost of Revenue	268,899,667	286,363,400	308,216,300	317,672,133	342,995,550	370,449,120	367,827,133	238,846,000	241,435,000	242,528,000	253,159,000	311,012,000	333,056,000	292,062,000	266,705,000	337,193,000	350,820,000	343,662,000	351,966,000	343,437,000	340,163,000	330,734,000	339,085,000	329,500,000	309,777,000	326,935,000	453,980,000	478,729,000	525,408,000	487,958,000	494,027,000	457,880,000	470,975,000	490,477,000	438,586,000	391,100,000	348,200,000	307,800,000	287,900,000
Cost of Revenue Margin	39.31%	40.26%	42.67%	43.88%	45.12%	46.52%	47.57%	39.33%	39.37%	39.46%	39.18%	39.30%	40.73%	42.63%	45.22%	45.16%	45.75%	45.02%	44.32%	45.51%	45.56%	45.36%	46.49%	48.53%	52.50%	48.49%	46.32%	47.62%	49.27%	51.42%	51.72%	50.47%	52.78%	54.25%	51.23%	51.31%	51.26%	53.83%	56.47%
Gross Profit	415,184,333	424,673,200	413,391,200	405,977,867	415,545,850	420,696,160	404,102,967	368,450,000	371,748,000	372,121,000	393,062,000	480,370,000	484,706,000	393,107,000	323,132,000	409,491,000	415,964,000	419,723,000	442,236,000	411,163,000	406,496,000	398,349,000	390,288,000	349,460,000	280,277,000	347,342,000	526,065,000	526,583,000	540,982,000	461,054,000	461,080,000	449,384,000	421,313,000	413,656,000	417,585,000	371,100,000	331,100,000	264,000,000	221,900,000
Gross Profit Margin	60.69%	59.74%	57.33%	56.12%	54.88%	53.48%	52.43%	60.67%	60.63%	60.54%	60.82%	60.70%	59.27%	57.37%	54.78%	54.84%	54.25%	54.98%	55.68%	54.49%	54.44%	54.64%	53.51%	51.47%	47.50%	51.51%	53.68%	52.38%	50.73%	48.58%	48.28%	49.53%	47.22%	45.75%	48.77%	48.69%	48.74%	46.17%	43.53%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	323,776,333	327,033,600	338,548,200	337,504,000	285,262,350	228,209,880	190,174,900	232,624,000	306,792,000	309,790,000	315,148,000	346,391,000	350,428,000	313,411,000	311,507,000	356,880,000	367,097,000	361,773,000	353,057,000	345,229,000	336,860,000	337,912,000	340,676,000	316,401,000	289,575,000	353,112,000	0	0	0	0	0	0	0	0	0	0	0	0	0
SG&A Expenses Margin	47.65%	46.31%	47.19%	46.83%	40.19%	32.15%	26.79%	38.30%	50.03%	50.40%	48.77%	43.77%	42.85%	45.74%	52.81%	47.80%	47.87%	47.39%	44.45%	45.75%	45.12%	46.35%	46.71%	46.60%	49.08%	52.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses	321,352,333	325,244,200	339,159,700	338,257,333	346,793,350	338,859,520	317,965,800	313,415,000	311,781,000	309,790,000	315,148,000	339,119,000	346,361,000	315,803,000	308,243,000	375,206,000	367,097,000	361,773,000	353,057,000	348,929,000	336,860,000	339,397,000	340,676,000	316,401,000	289,575,000	353,112,000	423,229,000	402,022,000	394,069,000	332,295,000	320,755,000	315,578,000	286,290,000	280,703,000	271,486,000	238,400,000	211,700,000	178,800,000	167,100,000
Operating Expenses Margin	47.34%	46.09%	47.27%	46.93%	46.27%	43.68%	41.67%	51.61%	50.85%	50.40%	48.77%	42.85%	42.35%	46.09%	52.26%	50.25%	47.87%	47.39%	44.45%	46.24%	45.12%	46.55%	46.71%	46.60%	49.08%	52.37%	43.18%	39.99%	36.95%	35.01%	33.58%	34.78%	32.08%	31.05%	31.71%	31.28%	31.16%	31.27%	32.78%
Operating Income (EBIT)	91,151,667	97,388,000	74,717,200	68,390,000	69,254,600	82,238,320	86,471,900	54,390,000	64,925,000	61,988,000	77,991,000	133,476,000	133,789,000	79,696,000	11,625,000	52,611,000	48,867,000	57,950,000	89,179,000	65,934,000	69,636,000	60,437,000	49,612,000	33,059,000	-9,298,000	-5,770,000	102,836,000	124,561,000	146,913,000	128,759,000	140,325,000	133,806,000	135,023,000	132,953,000	146,099,000	132,700,000	119,400,000	85,200,000	54,800,000
Operating Income (EBIT) Margin	13.01%	13.40%	10.12%	9.28%	8.67%	9.85%	10.80%	8.96%	10.59%	10.09%	12.07%	16.87%	16.36%	11.63%	1.97%	7.05%	6.37%	7.59%	11.23%	8.74%	9.33%	8.29%	6.80%	4.87%	-1.58%	-0.86%	10.49%	12.39%	13.78%	13.57%	14.69%	14.75%	15.13%	14.71%	17.06%	17.41%	17.58%	14.90%	10.75%
Interest Income	75,333	90,000	45,000	30,000	22,500	18,000	15,000	1,599,000	-2,489,000	0	0	226,000	224,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.01%	0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	0.26%	-0.41%	0.00%	0.00%	0.03%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	0	96,200	418,900	3,423,933	3,752,350	3,001,880	2,501,567	60,000	0	0	0	0	0	481,000	455,000	87,000	325,000	1,223,000	1,618,000	9,251,000	7,510,000	10,263,000	9,020,000	11,126,000	11,924,000	11,764,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest Expense Margin	0.00%	0.01%	0.06%	0.47%	0.54%	0.43%	0.36%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.08%	0.01%	0.04%	0.16%	0.20%	1.23%	1.01%	1.41%	1.24%	1.64%	2.02%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Interest Income	0	0	0	0	0	0	0	1,539,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	-7,420,667	-4,610,400	-117,900	5,853,333	11,534,400	10,403,960	9,090,933	-10,472,000	-4,480,000	-7,032,000	-7,455,000	-7,775,000	-4,556,000	3,766,000	-2,109,000	18,838,000	125,000	2,178,000	2,841,000	18,502,000	14,744,000	20,526,000	17,393,000	17,814,000	21,413,000	87,174,000	10,658,000	14,835,000	8,808,000	-661,000	9,829,000	12,614,000	2,779,000	4,850,000	-671,000	0	900,000	4,500,000	7,900,000
Unusual Items Margin	-1.09%	-0.66%	-0.05%	0.79%	1.59%	1.40%	1.24%	-1.72%	-0.73%	-1.14%	-1.15%	-0.98%	-0.56%	0.55%	-0.36%	2.52%	0.02%	0.29%	0.36%	2.45%	1.97%	2.82%	2.38%	2.62%	3.63%	12.93%	1.09%	1.48%	0.83%	-0.07%	1.03%	1.39%	0.31%	0.54%	-0.08%	0.00%	0.13%	0.79%	1.55%
EBT Excluding Unusual Items	105,917,667	106,615,000	75,326,900	60,077,267	49,915,650	64,414,280	70,776,600	73,795,000	76,374,000	76,052,000	92,901,000	148,800,000	142,677,000	72,645,000	16,298,000	15,022,000	48,942,000	54,817,000	85,115,000	38,181,000	47,658,000	29,648,000	23,846,000	8,557,000	-40,200,000	-168,354,000	81,520,000	94,891,000	129,297,000	130,081,000	120,667,000	108,578,000	129,465,000	123,253,000	147,441,000	132,700,000	117,600,000	76,200,000	39,000,000
EBT Excluding Unusual Items Margin	15.18%	14.72%	10.27%	8.18%	6.04%	7.49%	8.67%	12.15%	12.46%	12.37%	14.38%	18.80%	17.45%	10.60%	2.76%	2.01%	6.38%	7.18%	10.72%	5.06%	6.38%	4.07%	3.27%	1.26%	-6.81%	-24.97%	8.32%	9.44%	12.12%	13.71%	12.63%	11.97%	14.51%	13.63%	17.22%	17.41%	17.31%	13.33%	7.65%
Pre-Tax Income	98,497,000	102,004,600	75,209,000	65,930,600	61,450,050	74,818,240	79,867,533	63,323,000	71,894,000	69,020,000	85,446,000	141,025,000	138,121,000	76,411,000	14,189,000	33,860,000	49,067,000	56,995,000	87,956,000	56,683,000	62,402,000	50,174,000	41,239,000	26,371,000	-18,787,000	-81,180,000	92,178,000	109,726,000	138,105,000	129,420,000	130,496,000	121,192,000	132,244,000	128,103,000	146,770,000	132,700,000	118,500,000	80,700,000	46,900,000
Pre-Tax Income Margin	14.09%	14.06%	10.22%	8.97%	7.63%	8.89%	9.92%	10.43%	11.72%	11.23%	13.22%	17.82%	16.89%	11.15%	2.41%	4.53%	6.40%	7.47%	11.07%	7.51%	8.36%	6.88%	5.65%	3.88%	-3.18%	-12.04%	9.41%	10.91%	12.95%	13.64%	13.66%	13.36%	14.82%	14.17%	17.14%	17.41%	17.44%	14.11%	9.20%
Income Tax Expense	24,757,333	25,103,800	20,378,600	16,610,667	18,661,200	24,707,360	27,422,800	15,995,000	18,764,000	17,424,000	21,630,000	35,218,000	34,841,000	16,406,000	5,289,000	8,162,000	12,696,000	20,801,000	31,319,000	19,541,000	19,471,000	17,696,000	-8,455,000	-2,879,000	25,529,000	-28,493,000	34,106,000	40,499,000	52,423,000	50,082,000	50,156,000	45,811,000	49,988,000	48,423,000	56,200,000	51,400,000	46,600,000	32,000,000	18,800,000
Income Tax Expense Margin	3.54%	3.46%	2.76%	2.24%	2.31%	2.91%	3.41%	2.63%	3.06%	2.83%	3.35%	4.45%	4.26%	2.39%	0.90%	1.09%	1.66%	2.72%	3.94%	2.59%	2.61%	2.43%	-1.16%	-0.42%	4.33%	-4.23%	3.48%	4.03%	4.92%	5.28%	5.25%	5.05%	5.60%	5.36%	6.56%	6.74%	6.86%	5.60%	3.69%
Net Income	73,739,667	76,900,800	54,830,400	49,319,933	42,788,850	50,110,880	52,418,067	47,328,000	53,130,000	51,596,000	63,816,000	105,807,000	103,280,000	60,005,000	8,900,000	25,698,000	36,371,000	36,194,000	56,637,000	37,142,000	42,931,000	32,478,000	49,694,000	29,250,000	-44,316,000	-52,687,000	58,072,000	69,227,000	85,682,000	79,338,000	80,340,000	75,381,000	82,256,000	79,680,000	90,570,000	81,300,000	71,100,000	48,700,000	28,100,000
Net Income Margin	10.55%	10.61%	7.46%	6.72%	5.32%	5.98%	6.51%	7.79%	8.66%	8.39%	9.88%	13.37%	12.63%	8.76%	1.51%	3.44%	4.74%	4.74%	7.13%	4.92%	5.75%	4.45%	6.81%	4.31%	-7.51%	-7.81%	5.93%	6.89%	8.03%	8.36%	8.41%	8.31%	9.22%	8.81%	10.58%	10.67%	10.47%	8.52%	5.51%
Depreciation and Amortization	5,204,667	9,597,200	14,378,100	15,883,867	18,128,650	18,640,720	18,303,100	15,514,000	-3,941,000	0	0	15,614,000	15,987,000	16,385,000	16,859,000	19,637,000	19,831,000	20,115,000	19,353,000	19,142,000	17,930,000	18,008,000	18,581,000	20,816,000	29,398,000	25,635,000	24,670,000	23,013,000	21,599,000	21,338,000	21,277,000	21,296,000	19,314,000	20,220,000	16,975,000	16,300,000	15,900,000	16,400,000	17,500,000
Depreciation and Amortization Margin	0.66%	1.26%	1.95%	2.17%	2.41%	2.37%	2.40%	2.55%	-0.64%	0.00%	0.00%	1.97%	1.95%	2.39%	2.86%	2.63%	2.59%	2.63%	2.44%	2.54%	2.40%	2.47%	2.55%	3.07%	4.98%	3.80%	2.52%	2.29%	2.03%	2.25%	2.23%	2.35%	2.16%	2.24%	1.98%	2.14%	2.34%	2.87%	3.43%
EBITDA	96,356,333	106,424,400	87,250,400	83,382,933	81,939,450	95,347,560	99,717,800	60,273,000	63,681,000	61,988,000	77,991,000	149,090,000	149,776,000	93,277,000	31,503,000	53,584,000	68,698,000	78,065,000	108,532,000	85,076,000	87,566,000	78,445,000	68,840,000	58,313,000	22,535,000	-43,781,000	116,848,000	132,739,000	159,704,000	150,758,000	151,773,000	142,488,000	151,558,000	148,323,000	163,745,000	149,000,000	133,600,000	97,100,000	64,400,000
EBITDA Margin	13.66%	14.58%	11.83%	11.34%	10.38%	11.54%	12.54%	9.92%	10.39%	10.09%	12.07%	18.84%	18.32%	13.61%	5.34%	7.18%	8.96%	10.23%	13.67%	11.27%	11.73%	10.76%	9.44%	8.59%	3.82%	-6.49%	11.92%	13.20%	14.98%	15.89%	15.89%	15.71%	16.99%	16.40%	19.13%	19.55%	19.67%	16.98%	12.63%
NOPAT	68,243,532	73,471,206	54,502,455	51,447,285	49,027,569	55,831,340	57,464,479	40,651,421	47,979,877	46,339,218	58,248,176	100,143,202	100,040,746	62,584,686	7,291,740	39,929,045	36,222,750	36,800,461	57,424,519	43,203,794	47,907,809	39,121,316	59,783,669	36,668,149	-21,932,728	-3,744,814	64,786,524	78,586,519	91,146,589	78,932,789	86,391,234	83,226,864	83,984,543	82,696,698	90,155,934	81,300,000	72,446,076	51,415,613	32,833,262
NOPAT Margin	9.74%	10.11%	7.39%	7.00%	6.19%	6.75%	7.20%	6.69%	7.82%	7.54%	9.01%	12.65%	12.23%	9.13%	1.24%	5.35%	4.72%	4.82%	7.23%	5.73%	6.42%	5.37%	8.20%	5.40%	-3.72%	-0.56%	6.61%	7.82%	8.55%	8.32%	9.05%	9.17%	9.41%	9.15%	10.53%	10.67%	10.66%	8.99%	6.44%
Owner's Earnings	76,434,067	79,908,640	58,093,920	51,789,080	41,202,710	46,974,288	47,364,573	395,198,000	59,028,000	51,600,200	70,166,000	107,536,000	105,880,000	64,361,000	10,050,000	36,108,000	43,716,000	38,664,000	52,858,000	36,497,000	41,556,000	31,481,000	45,391,000	40,972,000	-24,840,000	-49,589,000	22,704,000	33,167,000	65,776,000	70,375,000	78,582,000	69,470,000	70,492,000	61,384,000	65,480,000	49,800,000	57,300,000	41,700,000	32,300,000
Owner's Earnings Margin	10.95%	11.04%	7.91%	7.07%	5.32%	5.77%	6.02%	65.08%	9.63%	8.40%	10.86%	13.59%	12.95%	9.39%	1.70%	4.84%	5.70%	5.06%	6.66%	4.84%	5.57%	4.32%	6.22%	6.03%	-4.21%	-7.35%	2.32%	3.30%	6.17%	7.42%	8.23%	7.66%	7.90%	6.79%	7.65%	6.53%	8.44%	7.29%	6.34%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30
Revenue	684,084,000	711,036,600	721,607,500	723,650,000	758,541,400	614,649,000	646,221,000	791,382,000	817,762,000	685,169,000	589,837,000	746,684,000	766,784,000	763,385,000	794,202,000	754,600,000	746,659,000	729,083,000	729,373,000	678,960,000	590,054,000	674,277,000	980,045,000	1,005,312,000	1,066,390,000	949,012,000	955,107,000	907,264,000
Cash & Cash Equivalents	69,339,333	84,506,600	64,835,600	70,970,333	79,371,150	76,178,000	69,710,000	62,130,000	109,919,000	104,596,000	72,276,000	20,824,000	22,363,000	57,701,000	52,659,000	76,182,000	109,176,000	72,601,000	79,721,000	78,519,000	73,852,000	52,960,000	74,376,000	147,879,000	173,801,000	3,448,000	27,528,000	81,856,000
Cash & Cash Equivalents Margin	10.34%	11.95%	9.19%	9.94%	10.40%	12.39%	10.79%	7.85%	13.44%	15.27%	12.25%	2.79%	2.92%	7.56%	6.63%	10.10%	14.62%	9.96%	10.93%	11.56%	12.52%	7.85%	7.59%	14.71%	16.30%	0.36%	2.88%	9.02%
Short-Term Investments	67,298,667	42,619,000	21,309,500	18,059,267	14,098,200	0	91,319,000	110,577,000	11,199,000	0	0	0	0	0	0	2,198,000	18,153,000	15,529,000	9,005,000	12,909,000	11,075,000	0	0	0	0	0	0	0
Short-Term Investments Margin	9.37%	5.89%	2.95%	2.50%	1.97%	0.00%	14.13%	13.97%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.29%	2.43%	2.13%	1.23%	1.90%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	136,638,000	127,125,600	86,145,100	89,029,600	93,469,350	76,178,000	161,029,000	172,707,000	121,118,000	104,596,000	72,276,000	20,824,000	22,363,000	57,701,000	52,659,000	78,380,000	127,329,000	88,130,000	88,726,000	91,428,000	84,927,000	52,960,000	74,376,000	147,879,000	173,801,000	3,448,000	27,528,000	81,856,000
Cash & Short-Term Investments Margin	19.71%	17.84%	12.14%	12.43%	12.37%	12.39%	24.92%	21.82%	14.81%	15.27%	12.25%	2.79%	2.92%	7.56%	6.63%	10.39%	17.05%	12.09%	12.16%	13.47%	14.39%	7.85%	7.59%	14.71%	16.30%	0.36%	2.88%	9.02%
Net Receivables	8,136,333	10,090,800	10,691,700	11,608,133	12,688,300	6,066,000	6,766,000	11,577,000	17,019,000	9,026,000	8,092,000	14,247,000	12,364,000	12,293,000	9,467,000	12,547,000	12,426,000	12,277,000	14,919,000	15,036,000	17,105,000	13,086,000	12,672,000	14,602,000	22,179,000	28,019,000	26,967,000	26,439,000
Net Receivables Margin	1.17%	1.38%	1.46%	1.59%	1.68%	0.99%	1.05%	1.46%	2.08%	1.32%	1.37%	1.91%	1.61%	1.61%	1.19%	1.66%	1.66%	1.68%	2.05%	2.21%	2.90%	1.94%	1.29%	1.45%	2.08%	2.95%	2.82%	2.91%
Inventory	144,042,667	150,522,000	151,591,800	149,919,733	154,857,700	140,893,000	142,040,000	149,195,000	176,504,000	143,978,000	126,101,000	162,389,000	163,012,000	149,483,000	162,323,000	151,916,000	146,275,000	137,256,000	155,739,000	141,692,000	134,040,000	156,519,000	186,265,000	181,884,000	189,650,000	186,479,000	186,895,000	198,212,000
Inventory Margin	21.25%	21.27%	21.08%	20.77%	20.62%	22.92%	21.98%	18.85%	21.58%	21.01%	21.38%	21.75%	21.26%	19.58%	20.44%	20.13%	19.59%	18.83%	21.35%	20.87%	22.72%	23.21%	19.01%	18.09%	17.78%	19.65%	19.57%	21.85%
Other Current Assets	45,206,000	41,081,000	31,178,000	28,393,133	29,585,450	86,796,000	22,848,000	25,974,000	32,108,000	37,679,000	23,483,000	18,830,000	16,686,000	23,621,000	23,755,000	27,831,000	19,599,000	22,907,000	23,408,000	20,372,000	23,620,000	29,137,000	36,865,000	38,064,000	38,126,000	46,443,000	54,192,000	53,755,000
Other Current Assets Margin	6.98%	6.07%	4.51%	4.05%	4.01%	14.12%	3.54%	3.28%	3.93%	5.50%	3.98%	2.52%	2.18%	3.09%	2.99%	3.69%	2.62%	3.14%	3.21%	3.00%	4.00%	4.32%	3.76%	3.79%	3.58%	4.89%	5.67%	5.92%
Total Current Assets	334,023,000	328,819,400	279,606,600	278,950,600	290,600,800	309,933,000	332,683,000	359,453,000	346,749,000	295,279,000	229,952,000	216,290,000	214,425,000	243,098,000	248,204,000	270,674,000	305,629,000	260,570,000	282,792,000	268,528,000	259,692,000	251,702,000	310,178,000	382,429,000	423,756,000	264,389,000	295,582,000	360,262,000
Total Current Assets Margin	49.11%	46.56%	39.18%	38.85%	38.67%	50.42%	51.48%	45.42%	42.40%	43.10%	38.99%	28.97%	27.96%	31.84%	31.25%	35.87%	40.93%	35.74%	38.77%	39.55%	44.01%	37.33%	31.65%	38.04%	39.74%	27.86%	30.95%	39.71%
Property, Plant & Equipment	328,979,667	330,285,400	305,440,900	300,121,333	305,397,650	319,411,000	329,500,000	338,028,000	324,312,000	340,176,000	346,020,000	245,246,000	267,903,000	270,198,000	273,615,000	277,035,000	288,156,000	291,672,000	295,695,000	294,853,000	305,747,000	333,599,000	350,432,000	322,185,000	294,170,000	275,211,000	277,021,000	289,423,000
Property, Plant & Equipment Margin	48.56%	47.00%	43.13%	42.04%	41.36%	51.97%	50.99%	42.71%	39.66%	49.65%	58.66%	32.84%	34.94%	35.39%	34.45%	36.71%	38.59%	40.01%	40.54%	43.43%	51.82%	49.48%	35.76%	32.05%	27.59%	29.00%	29.00%	31.90%
Goodwill	25,388,000	25,388,000	25,390,400	25,395,467	23,441,550	25,388,000	25,388,000	25,388,000	25,388,000	25,388,000	25,388,000	25,388,000	25,388,000	25,400,000	25,400,000	25,400,000	25,400,000	25,428,000	25,400,000	25,400,000	0	0	0	0	87,899,000	0	0	0
Goodwill Margin	3.76%	3.62%	3.56%	3.54%	3.07%	4.13%	3.93%	3.21%	3.10%	3.71%	4.30%	3.40%	3.31%	3.33%	3.20%	3.37%	3.40%	3.49%	3.48%	3.74%	0.00%	0.00%	0.00%	0.00%	8.24%	0.00%	0.00%	0.00%
Intangible Assets	19,740,000	19,740,000	19,737,600	19,732,533	28,778,350	19,740,000	19,740,000	19,740,000	19,740,000	19,740,000	19,740,000	19,740,000	19,740,000	19,728,000	19,728,000	19,728,000	19,728,000	19,700,000	19,728,000	19,728,000	45,128,000	45,128,000	96,823,000	92,500,000	0	82,897,000	80,038,000	78,939,000
Intangible Assets Margin	2.92%	2.81%	2.77%	2.75%	3.73%	3.21%	3.05%	2.49%	2.41%	2.88%	3.35%	2.64%	2.57%	2.58%	2.48%	2.61%	2.64%	2.70%	2.70%	2.91%	7.65%	6.69%	9.88%	9.20%	0.00%	8.74%	8.38%	8.70%
Long-Term Investments	31,600,667	18,744,800	9,147,900	8,219,067	6,164,300	60,030,000	34,772,000	0	0	-1,078,000	-137,000	-2,108,000	0	0	0	0	0	0	15,416,000	16,391,000	0	0	0	0	0	0	0	0
Long-Term Investments Margin	5.05%	3.00%	1.47%	1.28%	0.96%	9.77%	5.38%	0.00%	0.00%	-0.16%	-0.02%	-0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.11%	2.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	397,667	454,200	451,600	301,067	225,800	369,000	824,000	0	0	1,078,000	137,000	2,108,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Assets Margin	0.06%	0.07%	0.07%	0.04%	0.03%	0.06%	0.13%	0.00%	0.00%	0.16%	0.02%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	2,360,667	2,690,000	4,206,300	6,654,733	7,676,350	2,228,000	2,010,000	2,844,000	3,706,000	2,662,000	1,689,000	3,687,000	2,977,000	9,798,000	10,462,000	13,140,000	15,521,000	19,915,000	5,757,000	3,425,000	21,210,000	16,056,000	4,540,000	5,484,000	6,416,000	5,889,000	1,790,000	2,944,000
Other Non-Current Assets Margin	0.34%	0.37%	0.56%	0.90%	1.05%	0.36%	0.31%	0.36%	0.45%	0.39%	0.29%	0.49%	0.39%	1.28%	1.32%	1.74%	2.08%	2.73%	0.79%	0.50%	3.59%	2.38%	0.46%	0.55%	0.60%	0.62%	0.19%	0.32%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	408,466,667	397,302,400	364,374,700	360,424,200	371,684,000	427,166,000	412,234,000	386,000,000	373,146,000	387,966,000	392,837,000	294,061,000	316,008,000	325,124,000	329,205,000	335,303,000	348,805,000	356,715,000	361,996,000	359,797,000	372,085,000	394,783,000	451,795,000	420,169,000	388,485,000	363,997,000	358,849,000	371,306,000
Total Non-Current Assets Margin	60.69%	56.86%	51.56%	50.55%	50.21%	69.50%	63.79%	48.78%	45.63%	56.62%	66.60%	39.38%	41.21%	42.59%	41.45%	44.43%	46.72%	48.93%	49.63%	52.99%	63.06%	58.55%	46.10%	41.79%	36.43%	38.36%	37.57%	40.93%
Total Assets	742,489,667	726,121,800	643,981,300	639,374,800	662,284,800	737,099,000	744,917,000	745,453,000	719,895,000	683,245,000	622,789,000	510,351,000	530,433,000	568,222,000	577,409,000	605,977,000	654,434,000	617,285,000	644,788,000	628,325,000	631,777,000	646,485,000	761,973,000	802,598,000	812,241,000	628,386,000	654,431,000	731,568,000
Total Assets Margin	109.80%	103.43%	90.74%	89.40%	88.88%	119.92%	115.27%	94.20%	88.03%	99.72%	105.59%	68.35%	69.18%	74.43%	72.70%	80.30%	87.65%	84.67%	88.40%	92.54%	107.07%	95.88%	77.75%	79.84%	76.17%	66.21%	68.52%	80.63%
Accounts Payable	9,521,667	20,744,200	22,916,800	23,313,467	23,975,350	0	0	28,565,000	37,370,000	37,786,000	25,595,000	34,166,000	33,288,000	16,961,000	15,437,000	18,946,000	24,320,000	22,995,000	27,315,000	26,958,000	23,952,000	22,199,000	26,444,000	26,650,000	30,560,000	19,352,000	22,222,000	25,375,000
Accounts Payable Margin	1.20%	2.74%	3.11%	3.18%	3.17%	0.00%	0.00%	3.61%	4.57%	5.51%	4.34%	4.58%	4.34%	2.22%	1.94%	2.51%	3.26%	3.15%	3.74%	3.97%	4.06%	3.29%	2.70%	2.65%	2.87%	2.04%	2.33%	2.80%
Short-Term Debt	18,263,333	16,437,000	11,641,700	8,046,733	6,238,050	27,403,000	27,387,000	0	0	27,395,000	27,366,000	550,000	584,000	2,731,000	3,001,000	3,034,000	501,000	480,000	250,000	19,000	3,898,000	42,000	41,000	40,000	39,000	240,000	4,712,000	996,000
Short-Term Debt Margin	2.90%	2.54%	1.82%	1.25%	0.97%	4.46%	4.24%	0.00%	0.00%	4.00%	4.64%	0.07%	0.08%	0.36%	0.38%	0.40%	0.07%	0.07%	0.03%	0.00%	0.66%	0.01%	0.00%	0.00%	0.00%	0.03%	0.49%	0.11%
Tax Payables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax Payables Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	49,513,000	55,834,800	58,508,500	59,996,733	47,627,800	75,068,000	73,471,000	0	0	130,635,000	64,031,000	56,714,000	61,248,000	62,960,000	60,958,000	67,970,000	59,684,000	59,098,000	65,465,000	62,649,000	52,605,000	0	0	0	0	0	0	0
Deferred Revenue Margin	7.86%	8.53%	8.50%	8.55%	6.86%	12.21%	11.37%	0.00%	0.00%	19.07%	10.86%	7.60%	7.99%	8.25%	7.68%	9.01%	7.99%	8.11%	8.98%	9.23%	8.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	79,250,000	88,821,800	61,137,500	59,135,467	69,371,300	50,380,000	52,838,000	134,532,000	178,273,000	28,086,000	21,986,000	31,396,000	26,140,000	43,793,000	43,951,000	50,712,000	51,542,000	50,366,000	58,047,000	64,990,000	65,287,000	90,222,000	109,017,000	120,749,000	115,119,000	114,374,000	109,755,000	108,055,000
Other Current Liabilities Margin	11.12%	11.85%	8.19%	8.00%	8.92%	8.20%	8.18%	17.00%	21.80%	4.10%	3.73%	4.20%	3.41%	5.74%	5.53%	6.72%	6.90%	6.91%	7.96%	9.57%	11.06%	13.38%	11.12%	12.01%	10.80%	12.05%	11.49%	11.91%
Total Current Liabilities	156,548,000	181,837,800	154,204,500	150,492,400	147,212,500	152,851,000	153,696,000	163,097,000	215,643,000	223,902,000	138,978,000	122,826,000	121,260,000	126,445,000	123,347,000	140,662,000	136,047,000	132,939,000	151,077,000	154,616,000	145,742,000	112,463,000	135,502,000	147,439,000	145,718,000	133,966,000	136,689,000	134,426,000
Total Current Liabilities Margin	23.09%	25.66%	21.62%	20.99%	19.92%	24.87%	23.78%	20.61%	26.37%	32.68%	23.56%	16.45%	15.81%	16.56%	15.53%	18.64%	18.22%	18.23%	20.71%	22.77%	24.70%	16.68%	13.83%	14.67%	13.66%	14.12%	14.31%	14.82%
Long-Term Debt	100,555,000	98,089,800	69,473,800	89,894,933	117,975,150	96,263,000	100,897,000	104,505,000	90,085,000	98,699,000	152,232,000	516,000	1,096,000	11,608,000	38,837,000	73,203,000	130,411,000	130,809,000	154,250,000	165,013,000	199,369,000	203,106,000	202,988,000	202,868,000	202,748,000	12,270,000	4,509,000	9,222,000
Long-Term Debt Margin	14.83%	13.98%	10.23%	12.86%	15.84%	15.66%	15.61%	13.21%	11.02%	14.41%	25.81%	0.07%	0.14%	1.52%	4.89%	9.70%	17.47%	17.94%	21.15%	24.30%	33.79%	30.12%	20.71%	20.18%	19.01%	1.29%	0.47%	1.02%
Capital Lease Obligations	127,626,000	125,164,000	75,862,800	50,575,200	37,931,400	123,666,000	128,284,000	130,928,000	116,325,000	126,617,000	130,062,000	1,066,000	1,680,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations Margin	18.84%	17.84%	11.16%	7.44%	5.58%	20.12%	19.85%	16.54%	14.22%	18.48%	22.05%	0.14%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	1,696,333	2,417,400	1,423,000	1,484,267	6,175,150	2,054,000	3,035,000	0	0	6,998,000	1,074,000	1,069,000	0	0	0	0	0	0	0	8,034,000	9,084,000	0	27,327,000	30,646,000	34,182,000	35,637,000	51,248,000	47,539,000
Deferred Tax Liabilities Margin	0.27%	0.37%	0.22%	0.22%	0.70%	0.33%	0.47%	0.00%	0.00%	1.02%	0.18%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.18%	1.54%	0.00%	2.79%	3.05%	3.21%	3.76%	5.37%	5.24%
Other Non-Current Liabilities	4,960,000	6,190,000	13,404,800	15,458,800	16,026,750	3,662,000	4,373,000	6,845,000	6,844,000	9,226,000	3,515,000	23,080,000	24,207,000	29,273,000	23,023,000	21,577,000	20,509,000	19,180,000	17,593,000	18,975,000	19,123,000	24,993,000	20,383,000	12,003,000	12,151,000	12,445,000	1,205,000	2,682,000
Other Non-Current Liabilities Margin	0.71%	0.86%	1.79%	2.09%	2.14%	0.60%	0.68%	0.86%	0.84%	1.35%	0.60%	3.09%	3.16%	3.83%	2.90%	2.86%	2.75%	2.63%	2.41%	2.79%	3.24%	3.71%	2.08%	1.19%	1.14%	1.31%	0.13%	0.30%
Total Non-Current Liabilities	107,211,333	105,297,600	83,387,500	106,228,600	139,720,000	101,979,000	108,305,000	111,350,000	96,929,000	107,925,000	155,747,000	23,596,000	25,303,000	40,881,000	61,860,000	94,780,000	150,920,000	149,989,000	171,843,000	192,022,000	227,576,000	228,099,000	250,698,000	245,517,000	249,081,000	60,352,000	56,962,000	59,443,000
Total Non-Current Liabilities Margin	15.81%	15.01%	12.10%	15.08%	18.60%	16.59%	16.76%	14.07%	11.85%	15.75%	26.41%	3.16%	3.30%	5.36%	7.79%	12.56%	20.21%	20.57%	23.56%	28.28%	38.57%	33.83%	25.58%	24.42%	23.36%	6.36%	5.96%	6.55%
Total Liabilities	263,759,333	287,135,400	237,592,000	256,721,000	286,932,500	254,830,000	262,001,000	274,447,000	312,572,000	331,827,000	294,725,000	146,422,000	146,563,000	167,326,000	185,207,000	235,442,000	286,967,000	282,928,000	322,920,000	346,638,000	373,318,000	340,562,000	386,200,000	392,956,000	394,799,000	194,318,000	193,651,000	193,869,000
Total Liabilities Margin	38.89%	40.67%	33.73%	36.07%	38.52%	41.46%	40.54%	34.68%	38.22%	48.43%	49.97%	19.61%	19.11%	21.92%	23.32%	31.20%	38.43%	38.81%	44.27%	51.05%	63.27%	50.51%	39.41%	39.09%	37.02%	20.48%	20.28%	21.37%
Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	495,000	494,200	492,200	490,133	487,050	496,000	495,000	494,000	494,000	492,000	491,000	491,000	490,000	490,000	489,000	489,000	486,000	486,000	485,000	484,000	483,000	483,000	482,000	474,000	467,000	466,000	458,000	454,000
Common Stock Margin	0.07%	0.07%	0.07%	0.07%	0.07%	0.08%	0.08%	0.06%	0.06%	0.07%	0.08%	0.07%	0.06%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%	0.07%	0.08%	0.07%	0.05%	0.05%	0.04%	0.05%	0.05%	0.05%
Retained Earnings	779,354,333	740,755,600	696,742,300	650,453,733	623,878,650	784,878,000	783,366,000	769,819,000	710,369,000	655,346,000	638,631,000	647,710,000	669,013,000	661,976,000	646,315,000	607,079,000	584,395,000	553,083,000	542,918,000	501,908,000	479,341,000	531,747,000	606,648,000	573,535,000	529,496,000	467,566,000	414,041,000	460,456,000
Retained Earnings Margin	115.40%	105.74%	97.91%	90.80%	84.54%	127.70%	121.22%	97.28%	86.87%	95.65%	108.27%	86.74%	87.25%	86.72%	81.38%	80.45%	78.27%	75.86%	74.44%	73.92%	81.24%	78.86%	61.90%	57.05%	49.65%	49.27%	43.35%	50.75%
Accumulated OCI	-4,220,667	-5,011,000	-5,429,500	-3,480,533	-2,274,550	-5,688,000	-4,189,000	-2,785,000	-6,462,000	-5,931,000	-8,441,000	-5,651,000	-6,171,000	-4,131,000	-4,846,000	-2,638,000	642,000	684,000	1,141,000	2,258,000	1,244,000	467,000	2,701,000	1,370,000	935,000	1,051,000	600,000	580,000
Accumulated OCI Margin	-0.64%	-0.72%	-0.77%	-0.49%	-0.33%	-0.93%	-0.65%	-0.35%	-0.79%	-0.87%	-1.43%	-0.76%	-0.80%	-0.54%	-0.61%	-0.35%	0.09%	0.09%	0.16%	0.33%	0.21%	0.07%	0.28%	0.14%	0.09%	0.11%	0.06%	0.06%
Minority Interest	-57,333	-44,600	37,200	73,867	55,400	-86,000	-64,000	-22,000	-26,000	-25,000	-1,000	63,000	139,000	190,000	204,000	277,000	252,000	207,000	0	0	0	0	0	0	0	0	0	0
Minority Interest Margin	-0.01%	-0.01%	0.00%	0.01%	0.01%	-0.01%	-0.01%	0.00%	0.00%	0.00%	0.00%	0.01%	0.02%	0.02%	0.03%	0.04%	0.03%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Shareholders’ Equity	478,787,667	439,031,000	406,352,100	382,579,933	375,296,900	482,355,000	482,980,000	471,028,000	407,349,000	351,443,000	328,065,000	363,866,000	383,731,000	400,706,000	391,998,000	370,258,000	367,215,000	334,150,000	321,868,000	281,687,000	258,459,000	305,923,000	375,773,000	409,642,000	417,442,000	434,068,000	460,780,000	537,699,000
Total Shareholders’ Equity Margin	70.91%	62.77%	57.01%	53.32%	50.36%	78.48%	74.74%	59.52%	49.81%	51.29%	55.62%	48.73%	50.04%	52.49%	49.36%	49.07%	49.18%	45.83%	44.13%	41.49%	43.80%	45.37%	38.34%	40.75%	39.15%	45.74%	48.24%	59.27%
Total Equity	478,730,333	438,986,400	406,389,300	382,653,800	375,352,300	482,269,000	482,916,000	471,006,000	407,323,000	351,418,000	328,064,000	363,929,000	383,870,000	400,896,000	392,202,000	370,535,000	367,467,000	334,357,000	321,868,000	281,687,000	258,459,000	305,923,000	375,773,000	409,642,000	417,442,000	434,068,000	460,780,000	537,699,000
Total Equity Margin	70.90%	62.76%	57.01%	53.33%	50.37%	78.46%	74.73%	59.52%	49.81%	51.29%	55.62%	48.74%	50.06%	52.52%	49.38%	49.10%	49.21%	45.86%	44.13%	41.49%	43.80%	45.37%	38.34%	40.75%	39.15%	45.74%	48.24%	59.27%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Liabilities & Equity Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	98,899,333	61,363,800	30,457,400	26,278,333	20,262,500	60,030,000	126,091,000	110,577,000	11,199,000	-1,078,000	-137,000	-2,108,000	0	0	0	2,198,000	18,153,000	15,529,000	24,421,000	29,300,000	11,075,000	0	0	0	0	0	0	0
Total Investments Margin	14.42%	8.89%	4.42%	3.78%	2.93%	9.77%	19.51%	13.97%	1.37%	-0.16%	-0.02%	-0.28%	0.00%	0.00%	0.00%	0.29%	2.43%	2.13%	3.35%	4.32%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt	49,479,000	24,541,200	10,690,400	23,245,000	42,047,300	47,488,000	58,574,000	42,375,000	-19,834,000	-5,897,000	79,956,000	-20,308,000	-21,267,000	-43,362,000	-10,821,000	55,000	21,736,000	58,688,000	74,779,000	86,513,000	129,415,000	150,188,000	128,653,000	55,029,000	28,986,000	9,062,000	-18,307,000	-71,638,000
Net Debt Margin	7.38%	3.77%	1.99%	3.59%	5.97%	7.73%	9.06%	5.35%	-2.43%	-0.86%	13.56%	-2.72%	-2.77%	-5.68%	-1.36%	0.01%	2.91%	8.05%	10.25%	12.74%	21.93%	22.27%	13.13%	5.47%	2.72%	0.95%	-1.92%	-7.90%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30
Revenue	684,084,000	711,036,600	721,607,500	723,650,000	758,541,400	614,649,000	646,221,000	791,382,000	817,762,000	685,169,000	589,837,000	746,684,000	766,784,000	763,385,000	794,202,000	754,600,000	746,659,000	729,083,000	729,373,000	678,960,000	590,054,000	674,277,000	980,045,000	1,005,312,000	1,066,390,000	949,012,000	955,107,000	907,264,000
Working Capital	177,475,000	146,981,600	125,402,100	128,458,200	143,388,300	157,082,000	178,987,000	196,356,000	131,106,000	71,377,000	90,974,000	93,464,000	93,165,000	116,653,000	124,857,000	130,012,000	169,582,000	127,631,000	131,715,000	113,912,000	113,950,000	139,239,000	174,676,000	234,990,000	278,038,000	130,423,000	158,893,000	225,836,000
Working Capital Margin	26.02%	20.90%	17.56%	17.86%	18.76%	25.56%	27.70%	24.81%	16.03%	10.42%	15.42%	12.52%	12.15%	15.28%	15.72%	17.23%	22.71%	17.51%	18.06%	16.78%	19.31%	20.65%	17.82%	23.37%	26.07%	13.74%	16.64%	24.89%
Total Capital	597,606,000	548,078,800	481,878,100	476,795,267	496,715,350	606,021,000	611,264,000	575,533,000	497,434,000	450,142,000	480,297,000	364,382,000	384,827,000	415,045,000	433,836,000	446,495,000	498,127,000	465,439,000	476,368,000	446,719,000	461,726,000	509,071,000	578,802,000	612,550,000	620,229,000	446,578,000	470,001,000	547,917,000
Total Capital Margin	88.64%	78.49%	68.18%	66.85%	66.73%	98.60%	94.59%	72.73%	60.83%	65.70%	81.43%	48.80%	50.19%	54.37%	54.63%	59.17%	66.71%	63.84%	65.31%	65.79%	78.25%	75.50%	59.06%	60.93%	58.16%	47.06%	49.21%	60.39%
Capital Employed	585,941,667	544,284,000	489,776,800	488,882,400	515,072,300	584,248,000	591,221,000	582,356,000	504,252,000	459,343,000	483,811,000	387,525,000	409,173,000	441,777,000	454,062,000	465,315,000	518,387,000	484,346,000	493,711,000	473,709,000	486,035,000	534,022,000	626,471,000	655,159,000	666,523,000	494,420,000	517,742,000	597,142,000
Capital Employed Margin	86.71%	77.77%	69.12%	68.41%	68.97%	95.05%	91.49%	73.59%	61.66%	67.04%	82.02%	51.90%	53.36%	57.87%	57.17%	61.66%	69.43%	66.43%	67.69%	69.77%	82.37%	79.20%	63.92%	65.17%	62.50%	52.10%	54.21%	65.82%
Invested Capital	528,266,667	463,572,200	417,042,500	405,824,933	417,344,200	529,843,000	541,554,000	513,403,000	387,515,000	345,546,000	408,021,000	343,558,000	362,464,000	357,344,000	381,177,000	370,313,000	388,951,000	392,838,000	396,647,000	368,200,000	387,874,000	456,111,000	504,426,000	464,671,000	446,428,000	443,130,000	442,473,000	466,061,000
Invested Capital Margin	78.29%	66.54%	59.00%	56.91%	56.33%	86.20%	83.80%	64.87%	47.39%	50.43%	69.18%	46.01%	47.27%	46.81%	47.99%	49.07%	52.09%	53.88%	54.38%	54.23%	65.74%	67.64%	51.47%	46.22%	41.86%	46.69%	46.33%	51.37%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	684,084,000	711,036,600	721,607,500	723,650,000	758,541,400	791,145,280	771,930,100	614,649,000	646,221,000	791,382,000	817,762,000	685,169,000	589,837,000	746,684,000	766,784,000	763,385,000	794,202,000	754,600,000	746,659,000	729,083,000	729,373,000	678,960,000	590,054,000	674,277,000	980,045,000	1,005,312,000	1,066,390,000	949,012,000	955,107,000	907,264,000	892,288,000	904,133,000	856,171,000	762,200,000	679,300,000	571,800,000	509,800,000
Net Income	56,558,200	66,591,920	49,675,960	45,883,640	40,211,630	48,049,104	50,699,920	51,600	63,816,000	105,807,000	103,280,000	60,005,000	8,900,000	25,698,000	36,371,000	36,194,000	56,637,000	37,142,000	42,931,000	32,478,000	49,694,000	29,250,000	-44,316,000	-52,687,000	58,072,000	69,227,000	85,682,000	79,338,000	80,340,000	75,381,000	82,256,000	79,680,000	90,570,000	81,300,000	71,100,000	48,700,000	28,100,000
Net Income Margin	7.75%	8.93%	6.62%	6.16%	4.90%	5.64%	6.23%	0.01%	9.88%	13.37%	12.63%	8.76%	1.51%	3.44%	4.74%	4.74%	7.13%	4.92%	5.75%	4.45%	6.81%	4.31%	-7.51%	-7.81%	5.93%	6.89%	8.03%	8.36%	8.41%	8.31%	9.22%	8.81%	10.58%	10.67%	10.47%	8.52%	5.51%
Depreciation & Amortization	10,528,500	12,791,500	15,964,550	16,941,500	18,921,875	19,275,300	18,831,917	15,500	15,956,000	15,614,000	15,987,000	16,385,000	16,859,000	19,530,000	19,831,000	20,115,000	19,353,000	19,142,000	17,930,000	18,008,000	18,581,000	20,816,000	29,398,000	25,635,000	24,670,000	23,013,000	21,599,000	21,338,000	21,277,000	21,296,000	19,314,000	20,220,000	16,975,000	16,300,000	15,900,000	16,400,000	17,500,000
Depreciation & Amortization Margin	1.48%	1.76%	2.19%	2.33%	2.53%	2.47%	2.48%	0.00%	2.47%	1.97%	1.95%	2.39%	2.86%	2.62%	2.59%	2.63%	2.44%	2.54%	2.40%	2.47%	2.55%	3.07%	4.98%	3.80%	2.52%	2.29%	2.03%	2.25%	2.23%	2.35%	2.16%	2.24%	1.98%	2.14%	2.34%	2.87%	3.43%
Deferred Income Tax	-68,333	561,600	589,300	-668,933	-567,950	-73,040	-57,733	0	-205,000	0	0	3,013,000	2,524,000	-3,511,000	-106,000	3,507,000	671,000	3,923,000	-3,032,000	2,767,000	-19,522,000	-63,000	33,789,000	-32,158,000	-2,364,000	200,000	-792,000	3,935,000	659,000	4,750,000	189,000	0	-1,806,000	0	700,000	600,000	600,000
Deferred Income Tax Margin	-0.01%	0.08%	0.09%	-0.09%	-0.03%	0.02%	0.02%	0.00%	-0.03%	0.00%	0.00%	0.44%	0.43%	-0.47%	-0.01%	0.46%	0.08%	0.52%	-0.41%	0.38%	-2.68%	-0.01%	5.73%	-4.77%	-0.24%	0.02%	-0.07%	0.41%	0.07%	0.52%	0.02%	0.00%	-0.21%	0.00%	0.10%	0.10%	0.12%
Stock-Based Compensation	912,667	1,029,000	1,016,900	942,067	706,550	565,240	471,033	0	1,450,000	1,288,000	1,139,000	1,268,000	334,000	121,000	954,000	1,259,000	2,356,000	1,236,000	1,325,000	1,401,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation Margin	0.13%	0.14%	0.14%	0.13%	0.10%	0.08%	0.06%	0.00%	0.22%	0.16%	0.14%	0.19%	0.06%	0.02%	0.12%	0.16%	0.30%	0.16%	0.18%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	1,757,000	-23,920,600	-13,583,000	-9,690,667	-2,392,450	-1,431,920	-912,000	0	0	5,271,000	-65,624,000	-59,250,000	-474,000	-789,000	-14,778,000	13,391,000	-13,577,000	-9,558,000	-3,073,000	5,426,000	-14,360,000	12,035,000	31,475,000	22,787,000	4,499,000	21,395,000	17,355,000	129,000	16,442,000	-11,320,000	20,393,000	-13,593,000	-1,362,000	-12,900,000	-3,200,000	11,200,000	14,700,000
Change in Working Capital Margin	0.22%	-3.20%	-1.81%	-1.28%	-0.31%	-0.20%	-0.08%	0.00%	0.00%	0.67%	-8.02%	-8.65%	-0.08%	-0.11%	-1.93%	1.75%	-1.71%	-1.27%	-0.41%	0.74%	-1.97%	1.77%	5.33%	3.38%	0.46%	2.13%	1.63%	0.01%	1.72%	-1.25%	2.29%	-1.50%	-0.16%	-1.69%	-0.47%	1.96%	2.88%
Accounts Receivable	3,417,667	265,200	619,900	476,267	108,550	86,840	72,367	0	4,811,000	5,442,000	-7,993,000	-934,000	6,020,000	-565,000	-682,000	-2,826,000	2,926,000	-559,000	-149,000	1,922,000	-456,000	187,000	-4,197,000	-776,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Receivable Margin	0.48%	0.06%	0.12%	0.09%	0.02%	0.02%	0.02%	0.00%	0.74%	0.69%	-0.98%	-0.14%	1.02%	-0.08%	-0.09%	-0.37%	0.37%	-0.07%	-0.02%	0.26%	-0.06%	0.03%	-0.71%	-0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	11,167,667	-3,507,800	840,800	-325,800	3,366,150	2,598,200	1,117,067	0	6,194,000	27,309,000	-32,526,000	-18,516,000	33,341,000	957,000	-11,876,000	13,507,000	-9,982,000	-5,036,000	-9,019,000	18,569,000	-12,531,000	-5,278,000	22,863,000	31,428,000	-91,000	14,531,000	3,479,000	757,000	13,168,000	-13,970,000	16,641,000	-18,964,000	-9,243,000	-25,000,000	-6,800,000	2,700,000	6,900,000
Inventory Margin	1.47%	-0.45%	0.25%	0.04%	0.55%	0.43%	0.24%	0.00%	0.96%	3.45%	-3.98%	-2.70%	5.65%	0.13%	-1.55%	1.77%	-1.26%	-0.67%	-1.21%	2.55%	-1.72%	-0.78%	3.87%	4.66%	-0.01%	1.45%	0.33%	0.08%	1.38%	-1.54%	1.86%	-2.10%	-1.08%	-3.28%	-1.00%	0.47%	1.35%
Accounts Payable	-577,333	-7,409,200	-8,377,200	-5,745,933	-4,543,000	-3,634,400	-3,028,667	0	-1,732,000	0	0	-35,314,000	-45,024,000	-1,524,000	1,807,000	1,524,000	-3,509,000	-5,349,000	1,300,000	-4,320,000	357,000	5,595,000	-836,000	-3,835,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Accounts Payable Margin	-0.09%	-1.08%	-1.33%	-0.90%	-0.71%	-0.57%	-0.47%	0.00%	-0.27%	0.00%	0.00%	-5.15%	-7.63%	-0.20%	0.24%	0.20%	-0.44%	-0.71%	0.17%	-0.59%	0.05%	0.82%	-0.14%	-0.57%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Working Capital	-9,160,000	-18,477,000	-13,943,200	-9,504,267	-5,380,950	-3,728,000	-1,777,300	0	0	-27,480,000	-25,105,000	-39,800,000	-39,835,000	-1,181,000	-2,220,000	2,710,000	-6,521,000	-3,963,000	6,095,000	-15,065,000	-1,730,000	11,531,000	13,645,000	-4,030,000	4,590,000	6,864,000	13,876,000	-628,000	3,274,000	2,650,000	3,752,000	5,371,000	7,881,000	12,100,000	3,600,000	8,500,000	7,800,000
Other Working Capital Margin	-1.16%	-2.47%	-2.00%	-1.36%	-0.81%	-0.58%	-0.28%	0.00%	0.00%	-3.47%	-3.07%	-5.81%	-6.75%	-0.16%	-0.29%	0.35%	-0.82%	-0.53%	0.82%	-2.07%	-0.24%	1.70%	2.31%	-0.60%	0.47%	0.68%	1.30%	-0.07%	0.34%	0.29%	0.42%	0.59%	0.92%	1.59%	0.53%	1.49%	1.53%
Other Non-Cash Items	-9,381,133	19,586,920	13,709,160	10,053,240	11,025,180	9,629,504	8,227,053	-5,400	-822,000	-27,316,000	14,574,000	111,504,000	27,077,000	10,687,000	119,000	7,674,000	-6,400,000	7,144,000	776,000	3,988,000	1,606,000	193,000	-1,291,000	56,637,000	1,260,000	5,354,000	7,745,000	-1,405,000	6,815,000	10,373,000	3,171,000	1,280,000	474,000	2,000,000	3,100,000	500,000	0
Other Non-Cash Items Margin	-1.19%	2.90%	2.07%	1.50%	1.61%	1.37%	1.17%	0.00%	-0.13%	-3.45%	1.78%	16.27%	4.59%	1.43%	0.02%	1.01%	-0.81%	0.95%	0.10%	0.55%	0.22%	0.03%	-0.22%	8.40%	0.13%	0.53%	0.73%	-0.15%	0.71%	1.14%	0.36%	0.14%	0.06%	0.26%	0.46%	0.09%	0.00%
Net Cash from Operating Activities	60,306,900	76,037,740	66,763,070	62,985,980	67,748,435	75,889,068	77,155,923	61,700	80,195,000	100,664,000	69,356,000	129,912,000	52,696,000	55,247,000	42,497,000	78,633,000	58,369,000	55,106,000	59,889,000	61,301,000	37,701,000	63,162,000	51,331,000	21,933,000	86,137,000	119,189,000	131,589,000	103,335,000	125,533,000	100,480,000	125,323,000	87,587,000	104,851,000	86,700,000	87,600,000	77,400,000	60,900,000
Net Cash from Operating Activities Margin	8.38%	10.52%	9.21%	8.69%	8.76%	9.36%	9.87%	0.01%	12.41%	12.72%	8.48%	18.96%	8.93%	7.40%	5.54%	10.30%	7.35%	7.30%	8.02%	8.41%	5.17%	9.30%	8.70%	3.25%	8.79%	11.86%	12.34%	10.89%	13.14%	11.08%	14.05%	9.69%	12.25%	11.37%	12.90%	13.54%	11.95%
Capital Expenditures (PPE)	-7,834,100	-9,783,660	-12,701,030	-14,472,353	-20,508,015	-22,411,892	-23,885,410	-11,300	-9,606,000	-13,885,000	-13,387,000	-12,029,000	-15,709,000	-9,120,000	-12,486,000	-17,645,000	-23,132,000	-19,787,000	-19,305,000	-19,005,000	-22,884,000	-9,094,000	-9,922,000	-22,537,000	-60,038,000	-59,073,000	-41,505,000	-30,301,000	-23,035,000	-27,207,000	-31,078,000	-38,516,000	-42,065,000	-47,800,000	-29,700,000	-23,400,000	-13,300,000
Capital Expenditures (PPE) Margin	-1.08%	-1.33%	-1.74%	-1.98%	-2.53%	-2.68%	-2.97%	0.00%	-1.49%	-1.75%	-1.64%	-1.76%	-2.66%	-1.22%	-1.63%	-2.31%	-2.91%	-2.62%	-2.59%	-2.61%	-3.14%	-1.34%	-1.68%	-3.34%	-6.13%	-5.88%	-3.89%	-3.19%	-2.41%	-3.00%	-3.48%	-4.26%	-4.91%	-6.27%	-4.37%	-4.09%	-2.61%
Acquisitions (Net)	0	0	-901,200	270,333	-1,411,300	-3,888,200	-3,661,200	0	0	0	0	0	-1,350,000	-534,000	-6,287,000	-676,000	-165,000	-1,991,000	19,305,000	-770,000	-520,000	-2,957,000	-50,000	-1,366,000	-7,777,000	-15,297,000	-7,791,000	-4,080,000	-1,442,000	-11,332,000	-42,403,000	-9,722,000	-12,631,000	0	0	0	0
Acquisitions (Net) Margin	0.00%	0.00%	-0.12%	0.03%	-0.14%	-0.42%	-0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.23%	-0.07%	-0.82%	-0.09%	-0.02%	-0.26%	2.59%	-0.11%	-0.07%	-0.44%	-0.01%	-0.20%	-0.79%	-1.52%	-0.73%	-0.43%	-0.15%	-1.25%	-4.75%	-1.08%	-1.48%	0.00%	0.00%	0.00%	0.00%
Purchases of Investments	-44,967,367	-26,980,420	-11,193,510	-9,451,740	-8,522,905	-7,298,324	-7,091,937	8,900	-134,911,000	0	0	0	0	0	0	0	22,967,000	19,787,000	-18,268,000	-18,247,000	-3,647,000	-9,466,000	-28,682,000	0	0	0	0	-12,000,000	0	0	0	0	0	0	-12,300,000	-18,000,000	0
Purchases of Investments Margin	-6.96%	-4.18%	-1.80%	-1.48%	-1.35%	-1.13%	-1.11%	0.00%	-20.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.89%	2.62%	-2.45%	-2.50%	-0.50%	-1.39%	-4.86%	0.00%	0.00%	0.00%	0.00%	-1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.81%	-3.15%	0.00%
Sales / Maturities of Investments	41,492,333	24,895,400	12,662,700	12,176,933	9,142,700	7,794,160	7,505,133	0	124,477,000	0	0	0	0	0	0	0	2,150,000	15,430,000	14,883,000	11,165,000	7,230,000	7,319,000	200,000	0	0	0	0	12,000,000	0	0	0	0	0	0	30,300,000	0	0
Sales / Maturities of Investments Margin	6.42%	3.85%	1.95%	1.81%	1.36%	1.14%	1.10%	0.00%	19.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%	2.04%	1.99%	1.53%	0.99%	1.08%	0.03%	0.00%	0.00%	0.00%	0.00%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.46%	0.00%	0.00%
Other Investing Activities	-29,196,333	-16,652,000	-5,807,800	-1,282,133	854,950	2,182,400	2,195,900	0	49,000	-87,638,000	-584,000	4,913,000	12,443,000	154,000	531,000	1,448,000	10,606,000	25,206,000	7,247,000	-1,826,000	3,664,000	4,555,000	13,363,000	6,377,000	6,481,000	5,629,000	4,481,000	11,868,000	5,529,000	5,302,000	5,016,000	9,746,000	1,917,000	2,300,000	2,100,000	2,200,000	2,800,000
Other Investing Activities Margin	-3.69%	-2.08%	-0.67%	-0.10%	0.17%	0.30%	0.31%	0.00%	0.01%	-11.07%	-0.07%	0.72%	2.11%	0.02%	0.07%	0.19%	1.34%	3.34%	0.97%	-0.25%	0.50%	0.67%	2.26%	0.95%	0.66%	0.56%	0.42%	1.25%	0.58%	0.58%	0.56%	1.08%	0.22%	0.30%	0.31%	0.38%	0.55%
Net Cash from Investing Activities	-40,505,467	-28,520,680	-20,436,040	-17,359,427	-23,894,920	-26,382,136	-27,237,747	-2,400	-19,991,000	-101,523,000	-13,971,000	-7,116,000	-4,616,000	-9,500,000	-18,242,000	-16,873,000	-12,526,000	3,428,000	-12,058,000	-21,601,000	-16,157,000	-9,643,000	-25,091,000	-17,526,000	-61,334,000	-68,741,000	-44,815,000	-22,513,000	-18,948,000	-33,237,000	-68,465,000	-38,492,000	-52,779,000	-45,500,000	-9,600,000	-39,200,000	-10,500,000
Net Cash from Investing Activities Margin	-5.31%	-3.73%	-2.69%	-2.31%	-2.94%	-3.15%	-3.37%	0.00%	-3.09%	-12.83%	-1.71%	-1.04%	-0.78%	-1.27%	-2.38%	-2.21%	-1.58%	0.45%	-1.61%	-2.96%	-2.22%	-1.42%	-4.25%	-2.60%	-6.26%	-6.84%	-4.20%	-2.37%	-1.98%	-3.66%	-7.67%	-4.26%	-6.16%	-5.97%	-1.41%	-6.86%	-2.06%
Net Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Stock Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Issuance	0	0	0	5,067	171,150	733,680	876,433	0	0	0	0	0	0	0	0	0	0	0	0	0	0	76,000	1,000	2,000	474,000	521,000	2,349,000	5,641,000	4,547,000	2,219,000	1,753,000	759,000	2,351,000	700,000	1,300,000	2,100,000	1,500,000
Common Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.02%	0.08%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.05%	0.05%	0.22%	0.59%	0.48%	0.24%	0.20%	0.08%	0.27%	0.09%	0.19%	0.37%	0.29%
Common Stock Repurchased	-270,667	-346,000	-7,880,700	-6,872,400	-15,996,050	-21,162,440	-21,938,900	0	0	-812,000	-843,000	-75,000	-24,319,000	-46,000	-23,120,000	-10,246,000	-19,346,000	-17,552,000	0	0	-1,350,000	-5,377,000	0	0	-75,577,000	-57,152,000	-84,106,000	-94,355,000	-38,348,000	-50,700,000	-24,668,000	-1,069,000	-49,606,000	-45,100,000	-23,300,000	-7,200,000	-3,900,000
Common Stock Repurchased Margin	-0.03%	-0.04%	-1.11%	-0.96%	-1.79%	-2.33%	-2.51%	0.00%	0.00%	-0.10%	-0.10%	-0.01%	-4.12%	-0.01%	-3.02%	-1.34%	-2.44%	-2.33%	0.00%	0.00%	-0.19%	-0.79%	0.00%	0.00%	-7.71%	-5.69%	-7.89%	-9.94%	-4.02%	-5.59%	-2.76%	-0.12%	-5.79%	-5.92%	-3.43%	-1.26%	-0.77%
Preferred Stock Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-32,225,367	-37,644,620	-32,286,810	-24,648,873	-18,486,655	-14,789,324	-12,324,437	-50,100	-50,269,000	-46,357,000	-48,257,000	-43,290,000	-21,469,000	-46,990,000	-29,509,000	-20,031,000	-16,646,000	-13,348,000	-11,297,000	-22,220,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Dividends Paid Margin	-4.55%	-5.17%	-4.44%	-3.38%	-2.53%	-2.03%	-1.69%	-0.01%	-7.78%	-5.86%	-5.90%	-6.32%	-3.64%	-6.29%	-3.85%	-2.62%	-2.10%	-1.77%	-1.51%	-3.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Dividends Paid	-32,225,367	-37,644,620	-32,286,810	-24,648,873	-18,486,655	-14,789,324	-12,324,437	-50,100	-50,269,000	-46,357,000	-48,257,000	-43,290,000	-21,469,000	-46,990,000	-29,509,000	-20,031,000	-16,646,000	-13,348,000	-11,297,000	-22,220,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Common Dividends Paid Margin	-4.55%	-5.17%	-4.44%	-3.38%	-2.53%	-2.03%	-1.69%	-0.01%	-7.78%	-5.86%	-5.90%	-6.32%	-3.64%	-6.29%	-3.85%	-2.62%	-2.10%	-1.77%	-1.51%	-3.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Dividends Paid Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Financing Activities	-1,099,500	-10,348,100	-15,408,450	-21,730,500	-22,429,625	-32,798,860	-35,779,583	-2,500	-2,062,000	-1,234,000	-743,000	-47,699,000	25,166,000	-348,000	-37,382,000	-37,312,000	-52,468,000	-77,615,000	45,000	-24,346,000	-20,878,000	-49,079,000	-6,041,000	-25,036,000	-98,545,000	-76,558,000	83,545,000	-105,055,000	-160,960,000	-61,075,000	-29,282,000	-15,007,000	-47,016,000	-51,600,000	-80,500,000	-25,400,000	-48,900,000
Other Financing Activities Margin	-0.16%	-1.51%	-1.97%	-2.89%	-2.90%	-3.90%	-4.52%	0.00%	-0.32%	-0.16%	-0.09%	-6.96%	4.27%	-0.05%	-4.88%	-4.89%	-6.61%	-10.29%	0.01%	-3.34%	-2.86%	-7.23%	-1.02%	-3.71%	-10.06%	-7.62%	7.83%	-11.07%	-16.85%	-6.73%	-3.28%	-1.66%	-5.49%	-6.77%	-11.85%	-4.44%	-9.59%
Net Cash from Financing Activities	-33,324,867	-47,992,720	-47,695,260	-46,379,373	-40,916,280	-47,588,184	-48,104,020	-52,600	-52,331,000	-47,591,000	-49,000,000	-90,989,000	3,697,000	-47,338,000	-66,891,000	-57,343,000	-69,114,000	-90,963,000	-11,252,000	-46,566,000	-20,878,000	-49,079,000	-6,041,000	-25,036,000	-98,545,000	-76,558,000	83,545,000	-105,055,000	-160,960,000	-61,075,000	-29,282,000	-15,007,000	-47,016,000	-51,600,000	-80,500,000	-25,400,000	-48,900,000
Net Cash from Financing Activities Margin	-4.71%	-6.68%	-6.40%	-6.27%	-5.43%	-5.93%	-6.21%	-0.01%	-8.10%	-6.01%	-5.99%	-13.28%	0.63%	-6.34%	-8.72%	-7.51%	-8.70%	-12.05%	-1.51%	-6.39%	-2.86%	-7.23%	-1.02%	-3.71%	-10.06%	-7.62%	7.83%	-11.07%	-16.85%	-6.73%	-3.28%	-1.66%	-5.49%	-6.77%	-11.85%	-4.44%	-9.59%
Effect of FX on Cash	-26,000	65,000	-9,700	-10,467	10,500	16,400	-5,539,667	0	-279,000	201,000	-110,000	513,000	-325,000	52,000	-32,000	135,000	-252,000	-565,000	-4,000	-254,000	536,000	227,000	693,000	-787,000	239,000	188,000	34,000	153,000	47,000	0	0	0	0	0	-78,000,000	-38,200,000	-50,400,000
Effect of FX on Cash Margin	-0.01%	0.01%	0.00%	0.00%	0.00%	0.00%	-0.93%	0.00%	-0.04%	0.03%	-0.01%	0.07%	-0.06%	0.01%	0.00%	0.02%	-0.03%	-0.07%	0.00%	-0.03%	0.07%	0.03%	0.12%	-0.12%	0.02%	0.02%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-11.48%	-6.68%	-9.89%
Net Change in Cash	-13,551,667	-412,000	-596,600	-242,400	3,338,400	2,247,680	-3,465,067	0	7,594,000	-48,249,000	6,275,000	32,320,000	51,452,000	-1,539,000	-42,668,000	12,372,000	-23,523,000	-32,994,000	36,575,000	-7,120,000	1,202,000	4,667,000	20,892,000	-21,416,000	-73,503,000	-25,922,000	170,353,000	-24,080,000	-54,328,000	6,168,000	27,576,000	34,088,000	5,056,000	-10,400,000	-80,500,000	-25,400,000	-48,900,000
Net Change in Cash Margin	-1.64%	0.11%	0.22%	0.17%	0.44%	0.33%	-0.62%	0.00%	1.18%	-6.10%	0.77%	4.72%	8.72%	-0.21%	-5.56%	1.62%	-2.96%	-4.37%	4.90%	-0.98%	0.16%	0.69%	3.54%	-3.18%	-7.50%	-2.58%	15.97%	-2.54%	-5.69%	0.68%	3.09%	3.77%	0.59%	-1.36%	-11.85%	-4.44%	-9.59%
Cash at Beginning of Period	57,831,000	70,073,000	58,742,400	66,752,867	72,687,850	68,038,600	58,927,767	0	62,622,000	110,871,000	104,596,000	72,276,000	20,824,000	22,363,000	65,031,000	52,659,000	76,182,000	109,176,000	72,601,000	79,721,000	78,519,000	73,852,000	52,960,000	74,376,000	147,879,000	173,801,000	3,448,000	27,528,000	81,856,000	75,688,000	48,112,000	14,024,000	8,968,000	19,400,000	21,900,000	9,100,000	7,500,000
Cash at Beginning of Period Margin	7.90%	9.41%	7.85%	9.02%	9.40%	8.59%	7.49%	0.00%	9.69%	14.01%	12.79%	10.55%	3.53%	2.99%	8.48%	6.90%	9.59%	14.47%	9.72%	10.93%	10.77%	10.88%	8.98%	11.03%	15.09%	17.29%	0.32%	2.90%	8.57%	8.34%	5.39%	1.55%	1.05%	2.55%	3.22%	1.59%	1.47%
Cash at End of Period	44,279,333	69,661,000	58,145,800	66,510,467	76,026,250	70,286,280	55,462,700	0	70,216,000	62,622,000	110,871,000	104,596,000	72,276,000	20,824,000	22,363,000	65,031,000	52,659,000	76,182,000	109,176,000	72,601,000	79,721,000	78,519,000	73,852,000	52,960,000	74,376,000	147,879,000	173,801,000	3,448,000	27,528,000	81,856,000	75,688,000	48,112,000	14,024,000	9,000,000	-58,600,000	-16,300,000	-41,400,000
Cash at End of Period Margin	6.26%	9.52%	8.07%	9.19%	9.84%	8.92%	6.87%	0.00%	10.87%	7.91%	13.56%	15.27%	12.25%	2.79%	2.92%	8.52%	6.63%	10.10%	14.62%	9.96%	10.93%	11.56%	12.52%	7.85%	7.59%	14.71%	16.30%	0.36%	2.88%	9.02%	8.48%	5.32%	1.64%	1.18%	-8.63%	-2.85%	-8.12%
Operating Cash Flow	60,306,900	76,037,740	66,763,070	62,985,980	67,748,435	75,889,068	77,155,923	61,700	80,195,000	100,664,000	69,356,000	129,912,000	52,696,000	55,247,000	42,497,000	78,633,000	58,369,000	55,106,000	59,889,000	61,301,000	37,701,000	63,162,000	51,331,000	21,933,000	86,137,000	119,189,000	131,589,000	103,335,000	125,533,000	100,480,000	125,323,000	87,587,000	104,851,000	86,700,000	87,600,000	77,400,000	60,900,000
Operating Cash Flow Margin	8.38%	10.52%	9.21%	8.69%	8.76%	9.36%	9.87%	0.01%	12.41%	12.72%	8.48%	18.96%	8.93%	7.40%	5.54%	10.30%	7.35%	7.30%	8.02%	8.41%	5.17%	9.30%	8.70%	3.25%	8.79%	11.86%	12.34%	10.89%	13.14%	11.08%	14.05%	9.69%	12.25%	11.37%	12.90%	13.54%	11.95%
Capital Expenditure	-7,834,100	-9,783,660	-12,701,030	-14,472,353	-20,508,015	-22,411,892	-23,885,410	-11,300	-9,606,000	-13,885,000	-13,387,000	-12,029,000	-15,709,000	-9,120,000	-12,486,000	-17,645,000	-23,132,000	-19,787,000	-19,305,000	-19,005,000	-22,884,000	-9,094,000	-9,922,000	-22,537,000	-60,038,000	-59,073,000	-41,505,000	-30,301,000	-23,035,000	-27,207,000	-31,078,000	-38,516,000	-42,065,000	-47,800,000	-29,700,000	-23,400,000	-13,300,000
Capital Expenditure Margin	-1.08%	-1.33%	-1.74%	-1.98%	-2.53%	-2.68%	-2.97%	0.00%	-1.49%	-1.75%	-1.64%	-1.76%	-2.66%	-1.22%	-1.63%	-2.31%	-2.91%	-2.62%	-2.59%	-2.61%	-3.14%	-1.34%	-1.68%	-3.34%	-6.13%	-5.88%	-3.89%	-3.19%	-2.41%	-3.00%	-3.48%	-4.26%	-4.91%	-6.27%	-4.37%	-4.09%	-2.61%
Free Cash Flow	52,472,800	66,254,080	54,062,040	48,513,627	47,240,420	53,477,176	53,270,513	50,400	70,589,000	86,779,000	55,969,000	117,883,000	36,987,000	46,127,000	30,011,000	60,988,000	35,237,000	35,319,000	40,584,000	42,296,000	14,817,000	54,068,000	41,409,000	-604,000	26,099,000	60,116,000	90,084,000	73,034,000	102,498,000	73,273,000	94,245,000	49,071,000	62,786,000	38,900,000	57,900,000	54,000,000	47,600,000
Free Cash Flow Margin	7.30%	9.19%	7.47%	6.71%	6.23%	6.69%	6.90%	0.01%	10.92%	10.97%	6.84%	17.20%	6.27%	6.18%	3.91%	7.99%	4.44%	4.68%	5.44%	5.80%	2.03%	7.96%	7.02%	-0.09%	2.66%	5.98%	8.45%	7.70%	10.73%	8.08%	10.56%	5.43%	7.33%	5.10%	8.52%	9.44%	9.34%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	684,084,000	711,036,600	721,607,500	723,650,000	758,541,400	791,145,280	771,930,100	614,649,000	646,221,000	791,382,000	817,762,000	685,169,000	589,837,000	746,684,000	766,784,000	763,385,000	794,202,000	754,600,000	746,659,000	729,083,000	729,373,000	678,960,000	590,054,000	674,277,000	980,045,000	1,005,312,000	1,066,390,000	949,012,000	955,107,000	907,264,000	892,288,000	904,133,000	856,171,000	762,200,000	679,300,000	571,800,000	509,800,000
EBITDA	96,356,333	106,424,400	87,250,400	83,382,933	81,939,450	95,347,560	99,717,800	61,988,000	77,991,000	149,090,000	149,776,000	93,277,000	31,503,000	53,584,000	68,698,000	78,065,000	108,532,000	85,076,000	87,566,000	78,445,000	68,840,000	58,313,000	22,535,000	-43,781,000	116,848,000	132,739,000	159,704,000	150,758,000	151,773,000	142,488,000	151,558,000	148,323,000	163,745,000	149,000,000	133,600,000	97,100,000	64,400,000
EBITDA Margin	13.66%	14.58%	11.83%	11.34%	10.38%	11.54%	12.54%	10.09%	12.07%	18.84%	18.32%	13.61%	5.34%	7.18%	8.96%	10.23%	13.67%	11.27%	11.73%	10.76%	9.44%	8.59%	3.82%	-6.49%	11.92%	13.20%	14.98%	15.89%	15.89%	15.71%	16.99%	16.40%	19.13%	19.55%	19.67%	16.98%	12.63%
(-) Tax Adjustment	24,207,889	26,086,379	24,000,309	20,256,136	25,133,957	31,462,718	34,127,920	15,648,782	19,742,824	37,232,063	37,780,972	20,027,253	11,742,855	12,916,498	17,775,487	28,490,746	38,645,615	29,329,254	27,322,804	27,666,973	-14,113,878	-6,366,203	30,622,027	15,366,495	43,233,937	48,992,917	60,621,721	58,339,222	58,333,793	53,860,963	57,288,658	56,066,170	62,699,932	57,713,640	52,538,059	38,503,098	25,814,925
(-) Tax Adjustment Margin	3.44%	3.57%	3.25%	2.73%	3.17%	3.77%	4.29%	2.55%	3.06%	4.70%	4.62%	2.92%	1.99%	1.73%	2.32%	3.73%	4.87%	3.89%	3.66%	3.79%	-1.94%	-0.94%	5.19%	2.28%	4.41%	4.87%	5.68%	6.15%	6.11%	5.94%	6.42%	6.20%	7.32%	7.57%	7.73%	6.73%	5.06%
(-) Change In Working Capital	1,757,000	-23,920,600	-13,583,000	-9,690,667	-2,392,450	-1,431,920	-912,000	0	0	5,271,000	-65,624,000	-59,250,000	-474,000	-789,000	-14,778,000	13,391,000	-13,577,000	-9,558,000	-3,073,000	5,426,000	-14,360,000	12,035,000	31,475,000	22,787,000	4,499,000	21,395,000	17,355,000	129,000	16,442,000	-11,320,000	20,393,000	-13,593,000	-1,362,000	-12,900,000	-3,200,000	11,200,000	14,700,000
(-) Change In Working Capital Margin	0.22%	-3.20%	-1.81%	-1.28%	-0.31%	-0.20%	-0.08%	0.00%	0.00%	0.67%	-8.02%	-8.65%	-0.08%	-0.11%	-1.93%	1.75%	-1.71%	-1.27%	-0.41%	0.74%	-1.97%	1.77%	5.33%	3.38%	0.46%	2.13%	1.63%	0.01%	1.72%	-1.25%	2.29%	-1.50%	-0.16%	-1.69%	-0.47%	1.96%	2.88%
(-) Capital Expenditure	-7,834,100	-9,783,660	-12,701,030	-14,472,353	-20,508,015	-22,411,892	-23,885,410	-11,300	-9,606,000	-13,885,000	-13,387,000	-12,029,000	-15,709,000	-9,120,000	-12,486,000	-17,645,000	-23,132,000	-19,787,000	-19,305,000	-19,005,000	-22,884,000	-9,094,000	-9,922,000	-22,537,000	-60,038,000	-59,073,000	-41,505,000	-30,301,000	-23,035,000	-27,207,000	-31,078,000	-38,516,000	-42,065,000	-47,800,000	-29,700,000	-23,400,000	-13,300,000
(-) Capital Expenditure Margin	-1.08%	-1.33%	-1.74%	-1.98%	-2.53%	-2.68%	-2.97%	0.00%	-1.49%	-1.75%	-1.64%	-1.76%	-2.66%	-1.22%	-1.63%	-2.31%	-2.91%	-2.62%	-2.59%	-2.61%	-3.14%	-1.34%	-1.68%	-3.34%	-6.13%	-5.88%	-3.89%	-3.19%	-2.41%	-3.00%	-3.48%	-4.26%	-4.91%	-6.27%	-4.37%	-4.09%	-2.61%
Unlevered Free Cash Flow	62,557,344	94,474,961	64,132,061	58,345,110	38,689,928	42,904,870	42,616,470	46,327,918	48,642,176	92,701,937	164,232,028	120,470,747	4,525,145	32,336,502	53,214,513	18,538,254	60,331,385	45,517,746	44,011,196	26,347,027	74,429,878	43,550,203	-49,484,027	-104,471,495	9,077,063	3,278,083	40,222,279	61,988,778	53,962,207	72,740,037	42,798,342	67,333,830	60,342,068	56,386,360	54,561,941	23,996,902	10,585,075
Unlevered Free Cash Flow Margin	8.93%	12.89%	8.65%	7.91%	4.99%	5.29%	5.37%	7.54%	7.53%	11.71%	20.08%	17.58%	0.77%	4.33%	6.94%	2.43%	7.60%	6.03%	5.89%	3.61%	10.20%	6.41%	-8.39%	-15.49%	0.93%	0.33%	3.77%	6.53%	5.65%	8.02%	4.80%	7.45%	7.05%	7.40%	8.03%	4.20%	2.08%
(-) Net Interest Income After Taxes	56,520	-8,134	-245,152	-2,902,220	-2,757,359	-2,205,887	-1,838,239	0	0	169,561	167,496	-377,726	-285,397	-66,029	-240,907	-776,652	-1,041,869	-6,061,794	-5,166,690	-6,643,316	-10,869,320	-12,340,658	4,279,108	-15,892,993	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Net Interest Income After Taxes Margin	0.01%	0.00%	-0.03%	-0.40%	-0.38%	-0.31%	-0.26%	0.00%	0.00%	0.02%	0.02%	-0.06%	-0.05%	-0.01%	-0.03%	-0.10%	-0.13%	-0.80%	-0.69%	-0.91%	-1.49%	-1.82%	0.73%	-2.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt Issuance	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt Issuance Margin	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Levered Free Cash Flow	62,500,824	94,483,095	64,377,213	61,247,330	41,447,287	45,110,758	44,454,709	46,327,918	48,642,176	92,532,376	164,064,532	120,848,472	4,810,542	32,402,531	53,455,420	19,314,906	61,373,254	51,579,539	49,177,887	32,990,342	85,299,197	55,890,861	-53,763,135	-88,578,502	9,077,063	3,278,083	40,222,279	61,988,778	53,962,207	72,740,037	42,798,342	67,333,830	60,342,068	56,386,360	54,561,941	23,996,902	10,585,075
Levered Free Cash Flow Margin	8.92%	12.89%	8.68%	8.31%	5.37%	5.60%	5.62%	7.54%	7.53%	11.69%	20.06%	17.64%	0.82%	4.34%	6.97%	2.53%	7.73%	6.84%	6.59%	4.52%	11.69%	8.23%	-9.11%	-13.14%	0.93%	0.33%	3.77%	6.53%	5.65%	8.02%	4.80%	7.45%	7.05%	7.40%	8.03%	4.20%	2.08%