First Trust Senior Floating Rate Income Fund II (FCT)

Analysis: Margins & Ratios Industry: Asset Management - Income Sector: Financial Services Live Price: $10.08

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	TTM	TTM-1	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31
Revenue	22,992,009	19,423,848	16,323,717	56,960,343	42,853,766	21,571,842	32,825,251	14,578,935	-10,437,221	38,580,431	-7,536,194	10,845,101	14,874,586	24,766,371	23,168,063	29,956,430	29,532,064	32,963,155
Cost of Revenue	-3,002,486	-4,199,968	-5,918,205	0	0	2,449,874	0	-11,457,333	-30,512,766	18,520,385	-33,381,398	-18,158,445	4,405,139	4,541,277	4,411,213	0	0	0
Cost of Revenue Margin	-22.41%	54.62%	61.56%	0.00%	0.00%	11.36%	0.00%	-78.59%	292.35%	48.00%	442.95%	-167.43%	29.62%	18.34%	19.04%	0.00%	0.00%	0.00%
Gross Profit	25,994,496	23,623,816	22,241,922	56,960,343	42,853,766	19,121,968	32,825,251	26,036,268	20,075,545	20,060,046	25,845,204	29,003,546	10,469,447	20,225,094	18,756,850	29,956,430	29,532,064	32,963,155
Gross Profit Margin	122.41%	45.38%	38.44%	100.00%	100.00%	88.64%	100.00%	178.59%	-192.35%	52.00%	-342.95%	267.43%	70.38%	81.66%	80.96%	100.00%	100.00%	100.00%
R&D Expenses	1	1	1	0	0	0	0	2	-1	2	-1	0	1	1	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%
SG&A Expenses	596,029	640,308	534,686	6,314,500	7,624,138	517,740	683,114	587,232	617,705	795,750	684,019	674,982	786,312	1	0	5,003,701	5,425,537	5,272,370
SG&A Expenses Margin	2.84%	0.93%	0.71%	11.09%	17.79%	2.40%	2.08%	4.03%	-5.92%	2.06%	-9.08%	6.22%	5.29%	0.00%	0.00%	16.70%	18.37%	15.99%
Operating Expenses	615,390	663,074	2,996,134	6,756,882	43,363,896	539,743	703,322	603,106	645,070	824,130	709,892	700,647	813,905	2,880,706	21,540,820	12,255,046	7,879,664	11,157,276
Operating Expenses Margin	2.93%	0.95%	11.19%	11.86%	101.19%	2.50%	2.14%	4.14%	-6.18%	2.14%	-9.42%	6.46%	5.47%	11.63%	92.98%	40.91%	26.68%	33.85%
Operating Income (EBIT)	22,905,349	20,119,443	21,166,683	50,645,843	35,229,626	18,582,225	27,345,672	22,788,151	16,119,945	15,761,220	21,417,722	24,427,909	17,476,109	23,505,550	24,242,325	24,952,729	24,106,527	27,690,786
Operating Income (EBIT) Margin	108.59%	42.43%	47.02%	88.91%	82.21%	86.14%	83.31%	156.31%	-154.45%	40.85%	-284.20%	225.24%	117.49%	94.91%	104.64%	83.30%	81.63%	84.01%
Interest Income	27,508,477	24,362,960	20,212,085	32,072,630	1,289,778	25,872,888	30,616,276	26,036,268	19,708,592	19,580,775	25,518,728	28,481,286	26,306,037	0	0	0	0	0
Interest Income Margin	130.60%	50.74%	35.46%	56.31%	3.01%	119.94%	93.27%	178.59%	-188.83%	50.75%	-338.62%	262.62%	176.85%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	2,990,119	2,329,253	2,837,639	6,482,124	3,304,488	2,449,874	3,774,352	2,746,131	1,351,656	1,324,250	3,852,722	4,739,046	3,415,428	2,767,008	1,955,926	1,617,277	1,760,509	1,811,839
Interest Expense Margin	13.90%	6.43%	6.73%	11.38%	7.71%	11.36%	11.50%	18.84%	-12.95%	3.43%	-51.12%	43.70%	22.96%	11.17%	8.44%	5.40%	5.96%	5.50%
Net Interest Income	24,518,358	22,033,707	17,846,739	54,890,826	-2,014,710	23,423,014	26,841,924	23,290,137	18,356,936	18,256,525	21,666,006	23,742,240	22,890,609	0	0	0	0	0
Net Interest Income Margin	116.70%	44.31%	30.69%	96.37%	-4.70%	108.58%	81.77%	159.75%	-175.88%	47.32%	-287.49%	218.92%	153.89%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	-23,173,003	-20,185,063	-10,354,200	-28,042,629	28,593,678	-23,423,014	-31,618,181	-14,477,815	8,845,300	-40,251,606	7,997,802	-9,458,785	-19,475,181	-2,399,515	20,718,997	10,485,899	5,975,146	-12,805,968
Unusual Items Margin	-101.40%	-98.66%	-73.78%	-49.23%	66.72%	-108.58%	-96.32%	-99.31%	-84.75%	-104.33%	-106.13%	-87.22%	-130.93%	-9.69%	89.43%	35.00%	20.23%	-38.85%
EBT Excluding Unusual Items	44,732,998	38,455,862	24,500,637	81,140,595	-19,943,020	42,005,239	63,740,110	28,453,644	-19,927,591	78,007,907	-16,243,888	19,603,239	33,535,862	31,071,588	-15,239,743	5,598,208	13,916,744	55,114,561
EBT Excluding Unusual Items Margin	194.69%	195.44%	165.86%	142.45%	-46.54%	194.72%	194.18%	195.17%	190.93%	202.20%	215.54%	180.76%	225.46%	125.46%	-65.78%	18.69%	47.12%	167.20%
Pre-Tax Income	21,559,994	18,270,799	14,146,437	53,097,966	8,650,658	18,582,225	32,121,929	13,975,829	-11,082,291	37,756,301	-8,246,086	10,144,454	14,060,681	28,672,073	5,479,254	16,084,107	19,891,890	42,308,593
Pre-Tax Income Margin	93.29%	96.78%	92.08%	93.22%	20.19%	86.14%	97.86%	95.86%	106.18%	97.86%	109.42%	93.54%	94.53%	115.77%	23.65%	53.69%	67.36%	128.35%
Income Tax Expense	0	0	5,635,038	0	0	0	0	0	0	0	0	0	17,476,110	31,439,090	7,435,180	0	0	0
Income Tax Expense Margin	0.00%	0.00%	27.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	117.49%	126.94%	32.09%	0.00%	0.00%	0.00%
Net Income	21,559,994	18,270,799	14,618,731	53,097,966	8,650,658	18,582,225	32,121,929	13,975,829	-11,082,291	37,756,301	-8,246,086	10,144,454	14,060,681	31,439,090	7,435,180	16,084,107	19,891,890	42,308,593
Net Income Margin	93.29%	96.78%	94.04%	93.22%	20.19%	86.14%	97.86%	95.86%	106.18%	97.86%	109.42%	93.54%	94.53%	126.94%	32.09%	53.69%	67.36%	128.35%
Depreciation and Amortization	-16,711,274	-16,402,998	-19,763,896	-50,645,843	-35,229,626	0	-27,345,672	-22,788,151	-16,119,945	-15,761,220	-21,417,722	-24,427,909	-22,030,462	-23,505,550	-24,242,325	-24,952,729	-24,106,527	-27,690,786
Depreciation and Amortization Margin	-79.87%	-25.20%	-41.47%	-88.91%	-82.21%	0.00%	-83.31%	-156.31%	154.45%	-40.85%	284.20%	-225.24%	-148.11%	-94.91%	-104.64%	-83.30%	-81.63%	-84.01%
EBITDA	4,172,011	557,080	-675,901	0	0	18,582,225	0	-6,066,191	-9,730,635	0	0	-9,544,409	0	0	0	0	0	14,617,807
EBITDA Margin	14.84%	27.55%	4.98%	0.00%	0.00%	86.14%	0.00%	-41.61%	93.23%	0.00%	0.00%	-88.01%	0.00%	0.00%	0.00%	0.00%	0.00%	44.35%
NOPAT	22,905,349	20,119,443	13,127,560	50,645,843	35,229,626	18,582,225	27,345,672	22,788,151	16,119,945	15,761,220	21,417,722	24,427,909	-4,245,058	-2,268,418	-8,653,768	24,952,729	24,106,527	27,690,786
NOPAT Margin	108.59%	42.43%	7.82%	88.91%	82.21%	86.14%	83.31%	156.31%	-154.45%	40.85%	-284.20%	225.24%	-28.54%	-9.16%	-37.35%	83.30%	81.63%	84.01%
Owner's Earnings	21,559,994	18,270,799	14,618,731	53,097,958	8,650,658	18,582,225	32,121,929	13,975,829	-11,082,291	37,756,301	-8,246,086	10,144,454	14,060,681	31,439,090	7,435,180	16,084,107	19,891,890	42,308,593
Owner's Earnings Margin	93.29%	96.78%	94.04%	93.22%	20.19%	86.14%	97.86%	95.86%	106.18%	97.86%	109.42%	93.54%	94.53%	126.94%	32.09%	53.69%	67.36%	128.35%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31
Revenue	22,992,009	19,423,848	16,323,717	21,571,842	32,825,251	14,578,935	-10,437,221	38,580,431	-7,536,194	10,845,101	14,874,586	24,766,371	23,168,063	29,956,430	29,532,064	32,963,155
Cash & Cash Equivalents	2,903,025	2,064,805	2,099,946	1,047,283	2,178,303	5,483,489	918,369	696,581	46,445	1,177,098	427,171	5,055,874	3,968,851	10,485,374	3,740,031	8,917,292
Cash & Cash Equivalents Margin	16.37%	8.42%	9.28%	4.85%	6.64%	37.61%	-8.80%	1.81%	-0.62%	10.85%	2.87%	20.41%	17.13%	35.00%	12.66%	27.05%
Short-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Investments 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%
Cash & Short-Term Investments	2,903,025	2,064,805	2,099,946	1,047,283	2,178,303	5,483,489	918,369	696,581	46,445	1,177,098	427,171	5,055,874	3,968,851	10,485,374	3,740,031	8,917,292
Cash & Short-Term Investments Margin	16.37%	8.42%	9.28%	4.85%	6.64%	37.61%	-8.80%	1.81%	-0.62%	10.85%	2.87%	20.41%	17.13%	35.00%	12.66%	27.05%
Net Receivables	10,779,610	12,397,618	16,279,402	8,944,458	21,100,127	2,294,245	14,349,194	15,300,067	5,541,002	26,726,820	20,611,023	29,751,085	18,175,994	21,040,669	46,006,718	32,399,786
Net Receivables Margin	40.49%	4.73%	53.37%	41.46%	64.28%	15.74%	-137.48%	39.66%	-73.53%	246.44%	138.57%	120.13%	78.45%	70.24%	155.79%	98.29%
Inventory	0	0	3,416,988	0	0	0	0	0	0	34,169,884	0	0	0	0	0	0
Inventory Margin	0.00%	0.00%	31.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	315.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Assets	0	343	172	0	0	0	0	1,715	0	0	0	0	0	0	0	106,849
Other Current 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%	0.32%
Total Current Assets	13,703,893	14,483,759	17,908,160	10,012,905	23,299,806	7,798,969	15,288,800	16,018,314	5,604,854	27,923,036	21,038,194	29,938,971	22,157,752	31,546,834	49,818,961	41,423,927
Total Current Assets Margin	56.96%	13.19%	60.70%	46.42%	70.98%	53.49%	-146.48%	41.52%	-74.37%	257.47%	141.44%	120.89%	95.64%	105.31%	168.69%	125.67%
Property, Plant & Equipment	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property, Plant & Equipment 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%
Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill 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%
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible 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%
Long-Term Investments	222,923,456	310,355,600	415,087,256	0	321,232,411	347,537,956	416,201,705	466,805,929	464,927,143	537,941,749	542,560,339	546,434,076	507,231,248	542,037,182	566,166,969	590,230,365
Long-Term Investments Margin	1,120.82%	116.95%	741.90%	0.00%	978.61%	2,383.84%	-3,987.67%	1,209.96%	-6,169.26%	4,960.23%	3,647.57%	2,206.36%	2,189.36%	1,809.42%	1,917.13%	1,790.58%
Tax Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Tax 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%
Other Non-Current Assets	-407,440	-176,845,991	-348,332,451	346,312,454	3,182	-347,537,956	-416,201,705	-466,805,929	-464,927,143	-537,941,749	-542,560,339	-546,434,076	-507,231,248	1,725	7,464	5,014
Other Non-Current Assets Margin	-259.48%	399.86%	-483.50%	1,605.39%	0.01%	-2,383.84%	3,987.67%	-1,209.96%	6,169.26%	-4,960.23%	-3,647.57%	-2,206.36%	-2,189.36%	0.01%	0.03%	0.02%
Other Assets	0	0	304	0	0	0	0	0	0	0	3,043	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%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	338,362,001	379,618,727	449,718,819	346,312,454	321,235,593	347,537,956	416,201,705	466,805,929	464,927,143	537,941,749	542,560,339	546,434,076	507,231,248	542,038,907	566,174,433	590,235,379
Total Non-Current Assets Margin	1,655.95%	438.03%	902.44%	1,605.39%	978.62%	2,383.84%	-3,987.67%	1,209.96%	-6,169.26%	4,960.23%	3,647.57%	2,206.36%	2,189.36%	1,809.42%	1,917.15%	1,790.59%
Total Assets	352,065,894	394,102,486	467,627,284	356,325,359	344,535,399	355,336,925	431,490,505	482,824,243	470,531,997	565,864,785	563,601,576	576,373,047	529,389,000	573,585,741	615,993,394	631,659,306
Total Assets Margin	1,712.91%	451.21%	963.14%	1,651.81%	1,049.60%	2,437.33%	-4,134.15%	1,251.47%	-6,243.63%	5,217.70%	3,789.02%	2,327.24%	2,284.99%	1,914.73%	2,085.85%	1,916.26%
Accounts Payable	25,232,605	22,704,766	26,550,839	27,104,503	26,416,604	22,176,708	21,159,044	16,666,972	18,664,849	36,252,900	32,358,492	47,921,217	16,787,099	21,214,988	42,168,513	56,066,560
Accounts Payable Margin	119.41%	39.74%	76.88%	125.65%	80.48%	152.11%	-202.73%	43.20%	-247.67%	334.28%	217.54%	193.49%	72.46%	70.82%	142.79%	170.09%
Short-Term Debt	26,333,333	15,800,000	36,200,000	0	31,000,000	48,000,000	0	0	0	0	0	146,000,000	137,000,000	159,000,000	174,000,000	174,000,000
Short-Term Debt Margin	141.23%	84.74%	160.45%	0.00%	94.44%	329.24%	0.00%	0.00%	0.00%	0.00%	0.00%	589.51%	591.33%	530.77%	589.19%	527.86%
Tax Payables	0	0	12,885	0	0	0	0	0	0	62,200	66,650	0	0	0	0	0
Tax Payables Margin	0.00%	0.00%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.57%	0.45%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	-738	-27,202,004	-54,065,153	0	0	-2,215	-7,806	-136,000,000	-119,000,000	-163,000,000	-122,641,508	0	0	0	0	0
Deferred Revenue Margin	-0.01%	-70.49%	-110.09%	0.00%	0.00%	-0.02%	0.07%	-352.51%	1,579.05%	-1,502.98%	-824.50%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	-23,586,249	-21,716,952	-19,708,534	0	-582,038	-70,176,708	-21,159,044	-16,666,972	-18,664,849	-36,252,900	-33,582,825	0	0	0	0	758,557
Other Current Liabilities Margin	-161.04%	-64.72%	-63.60%	0.00%	-1.77%	-481.36%	202.73%	-43.20%	247.67%	-334.28%	-225.77%	0.00%	0.00%	0.00%	0.00%	2.30%
Total Current Liabilities	51,722,269	89,213,234	116,607,760	27,104,503	57,416,604	70,645,700	137,698,460	153,200,902	138,261,724	200,054,977	32,358,492	194,816,671	154,519,567	180,883,309	216,970,097	230,825,117
Total Current Liabilities Margin	261.71%	-27.41%	154.41%	125.65%	174.92%	484.57%	-1,319.30%	397.09%	-1,834.64%	1,844.66%	217.54%	786.62%	666.95%	603.82%	734.69%	700.25%
Long-Term Debt	18,000,000	10,800,000	21,007,290	54,000,000	0	0	0	0	0	0	155,635,808	255,444	181,647	0	0	0
Long-Term Debt Margin	83.44%	50.07%	129.85%	250.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,046.32%	1.03%	0.78%	0.00%	0.00%	0.00%
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations 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%
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities 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%
Other Non-Current Liabilities	116,947	70,168	-15,527,934	348,689	2,151	0	0	0	0	0	-155,635,808	3,207	2,418	0	0	0
Other Non-Current Liabilities Margin	0.54%	0.32%	-104.47%	1.62%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,046.32%	0.01%	0.01%	0.00%	0.00%	0.00%
Total Non-Current Liabilities	34,126,854	70,876,112	79,182,328	54,348,689	2,151	48,029,721	116,000,000	136,000,000	119,000,000	163,000,000	155,000,000	258,651	184,065	0	0	0
Total Non-Current Liabilities Margin	193.80%	-35.50%	79.03%	251.94%	0.01%	329.45%	-1,111.41%	352.51%	-1,579.05%	1,502.98%	1,042.05%	1.04%	0.79%	0.00%	0.00%	0.00%
Total Liabilities	70,044,523	100,222,778	137,780,486	81,453,192	58,000,793	70,679,585	137,774,721	153,205,601	138,265,410	200,060,337	188,586,270	195,075,322	154,703,632	180,883,309	216,970,097	230,825,117
Total Liabilities Margin	346.36%	23.23%	284.94%	377.59%	176.70%	484.81%	-1,320.03%	397.11%	-1,834.68%	1,844.71%	1,267.84%	787.66%	667.75%	603.82%	734.69%	700.25%
Preferred Stock	0	71,156,063	75,051,129	0	0	0	355,780,317	0	0	365,804,448	28,926,527	0	0	0	0	0
Preferred Stock Margin	0.00%	-681.75%	15.87%	0.00%	0.00%	0.00%	-3,408.76%	0.00%	0.00%	3,372.99%	194.47%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	259,834	259,774	263,342	259,834	259,834	259,834	259,834	259,534	266,670	266,970	266,970	266,970	266,970	266,970	266,970	264,704
Common Stock Margin	1.26%	0.39%	0.49%	1.20%	0.79%	1.78%	-2.49%	0.67%	-3.54%	2.46%	1.79%	1.08%	1.15%	0.89%	0.90%	0.80%
Retained Earnings	-63,452,482	-57,698,822	-38,179,279	-62,058,083	-59,880,756	-68,418,608	-62,064,533	-36,072,128	-59,605,425	-33,383,208	92,009	-151,020	-251,039	-108,731,674	-102,357,354	-98,027,027
Retained Earnings Margin	-313.13%	-87.65%	4.38%	-287.68%	-182.42%	-469.30%	594.65%	-93.50%	790.92%	-307.82%	0.62%	-0.61%	-1.08%	-362.97%	-346.60%	-297.38%
Accumulated OCI	0	-12,412,907	-30,910,434	0	0	0	-62,064,533	0	0	0	-28,926,527	-92,403,748	-125,709,534	0	0	0
Accumulated OCI Margin	0.00%	118.93%	-51.55%	0.00%	0.00%	0.00%	594.65%	0.00%	0.00%	0.00%	-194.47%	-373.10%	-542.60%	0.00%	0.00%	0.00%
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest 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%
Total Shareholders’ Equity	282,021,371	293,879,708	329,846,797	274,872,167	286,534,606	284,657,340	293,715,784	329,618,642	332,266,587	365,804,448	375,015,306	381,297,725	374,685,368	392,699,458	399,020,793	400,824,849
Total Shareholders’ Equity Margin	1,366.55%	427.98%	678.20%	1,274.22%	872.91%	1,952.52%	-2,814.12%	854.37%	-4,408.94%	3,372.99%	2,521.18%	1,539.58%	1,617.25%	1,310.90%	1,351.14%	1,215.98%
Total Equity	282,021,371	293,879,708	329,846,797	274,872,167	286,534,606	284,657,340	293,715,784	329,618,642	332,266,587	365,804,448	375,015,306	381,297,725	374,685,368	392,699,458	399,020,793	400,824,849
Total Equity Margin	1,366.55%	427.98%	678.20%	1,274.22%	872.91%	1,952.52%	-2,814.12%	854.37%	-4,408.94%	3,372.99%	2,521.18%	1,539.58%	1,617.25%	1,310.90%	1,351.14%	1,215.98%
Total Liabilities & Equity	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%
Total Investments	222,923,456	310,355,600	415,087,256	0	321,232,411	347,537,956	416,201,705	466,805,929	464,927,143	537,941,749	542,560,339	546,434,076	507,231,248	542,037,182	566,166,969	590,230,365
Total Investments Margin	1,120.82%	116.95%	741.90%	0.00%	978.61%	2,383.84%	-3,987.67%	1,209.96%	-6,169.26%	4,960.23%	3,647.57%	2,206.36%	2,189.36%	1,809.42%	1,917.13%	1,790.58%
Net Debt	31,106,882	68,741,139	105,346,735	52,952,717	-2,178,303	42,546,232	115,081,631	135,303,419	118,953,555	161,822,902	154,572,829	141,199,570	133,212,796	148,514,626	170,259,969	165,082,708
Net Debt Margin	176.89%	-44.25%	187.67%	245.47%	-6.64%	291.83%	-1,102.61%	350.70%	-1,578.43%	1,492.13%	1,039.17%	570.13%	574.98%	495.77%	576.53%	500.81%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31
Revenue	22,992,009	19,423,848	16,323,717	21,571,842	32,825,251	14,578,935	-10,437,221	38,580,431	-7,536,194	10,845,101	14,874,586	24,766,371	23,168,063	29,956,430	29,532,064	32,963,155
Working Capital	-38,018,376	-74,729,475	-98,699,600	-17,091,598	-34,116,798	-62,846,731	-122,409,660	-137,182,588	-132,656,870	-172,131,941	-11,320,298	-164,877,700	-132,361,815	-149,336,475	-167,151,136	-189,401,190
Working Capital Margin	-204.75%	40.60%	-93.71%	-79.23%	-103.93%	-431.08%	1,172.82%	-355.58%	1,760.26%	-1,587.19%	-76.10%	-665.73%	-571.31%	-498.51%	-566.00%	-574.58%
Total Capital	326,365,802	370,886,366	440,393,836	328,872,167	317,538,178	332,687,061	409,715,784	465,618,642	451,266,587	528,804,448	530,015,306	527,553,169	511,867,015	551,699,458	573,020,793	574,824,849
Total Capital Margin	1,591.29%	411.05%	884.59%	1,524.54%	967.36%	2,281.97%	-3,925.53%	1,206.88%	-5,987.99%	4,875.98%	3,563.23%	2,130.12%	2,209.36%	1,841.67%	1,940.33%	1,743.84%
Capital Employed	300,343,625	304,889,252	351,019,524	329,220,856	287,118,795	284,691,225	293,792,045	329,623,341	332,270,273	365,809,808	531,243,084	381,556,376	374,869,433	392,702,432	399,023,297	400,834,189
Capital Employed Margin	1,451.20%	478.63%	808.73%	1,526.16%	874.69%	1,952.76%	-2,814.85%	854.38%	-4,408.99%	3,373.04%	3,571.48%	1,540.62%	1,618.04%	1,310.91%	1,351.15%	1,216.01%
Invested Capital	323,462,777	368,821,561	438,293,889	327,824,884	315,359,875	327,203,572	408,797,415	464,922,061	451,220,142	527,627,350	529,588,135	522,497,295	507,898,164	541,214,084	569,280,762	565,907,557
Invested Capital Margin	1,574.92%	402.62%	875.32%	1,519.69%	960.72%	2,244.36%	-3,916.73%	1,205.07%	-5,987.37%	4,865.12%	3,560.36%	2,109.70%	2,192.23%	1,806.67%	1,927.67%	1,716.79%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31
Revenue	22,992,009	19,423,848	16,323,717	21,571,842	32,825,251	14,578,935	-10,437,221	38,580,431	-7,536,194	10,845,101	14,874,586	24,766,371	23,168,063	29,956,430	29,532,064	32,963,155
Net Income	21,559,994	18,270,799	14,146,437	18,582,225	32,121,929	13,975,829	-11,082,291	37,756,301	-8,246,086	10,144,454	14,060,681	28,672,073	5,479,254	16,084,107	19,891,890	42,308,593
Net Income Margin	93.29%	96.78%	92.08%	86.14%	97.86%	95.86%	106.18%	97.86%	109.42%	93.54%	94.53%	115.77%	23.65%	53.69%	67.36%	128.35%
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation & Amortization 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%
Deferred Income Tax	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Income Tax 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%
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock-Based Compensation 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%
Change in Working Capital	401	-43,719	224,208	-217,423	67,516	151,109	168,237	-388,036	376,136	262,672	-96,064	1,563,917	354,014	-631,161	-182,733	113,416
Change in Working Capital Margin	0.08%	-0.48%	0.22%	-1.01%	0.21%	1.04%	-1.61%	-1.01%	-4.99%	2.42%	-0.65%	6.31%	1.53%	-2.11%	-0.62%	0.34%
Accounts Receivable	-20,153	-43,803	239,973	-238,185	-43,376	221,103	165,000	-323,559	581,301	244,415	-63,673	1,483,547	373,155	-549,789	-160,636	110,513
Accounts Receivable Margin	0.09%	-0.43%	-0.04%	-1.10%	-0.13%	1.52%	-1.58%	-0.84%	-7.71%	2.25%	-0.43%	5.99%	1.61%	-1.84%	-0.54%	0.34%
Inventory	18,869	29,506	20,922	0	0	56,607	18,890	72,032	97,127	-35,435	0	0	0	0	0	0
Inventory Margin	0.13%	0.08%	-0.12%	0.00%	0.00%	0.39%	-0.18%	0.19%	-1.29%	-0.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accounts Payable	-22,269	-31,546	-22,202	0	-10,199	-56,607	-18,890	-72,032	-97,127	35,435	-28,642	75,044	-49,001	0	0	0
Accounts Payable Margin	-0.14%	-0.09%	0.11%	0.00%	-0.03%	-0.39%	0.18%	-0.19%	1.29%	0.33%	-0.19%	0.30%	-0.21%	0.00%	0.00%	0.00%
Other Working Capital	23,953	2,124	-14,485	20,762	121,091	-69,994	3,238	-64,477	-205,165	18,257	-3,748	5,326	29,860	-81,372	-22,097	2,903
Other Working Capital Margin	0.00%	-0.04%	0.28%	0.10%	0.37%	-0.48%	-0.03%	-0.17%	2.72%	0.17%	-0.03%	0.02%	0.13%	-0.27%	-0.07%	0.01%
Other Non-Cash Items	26,990,443	24,722,771	20,399,223	-12,251,158	11,750,032	81,472,455	55,956,409	-13,313,883	76,031,072	1,698,113	-2,360,836	-10,513,103	15,523,133	28,697,839	-3,408,448	-44,436,834
Other Non-Cash Items Margin	179.28%	-6.56%	-101.73%	-56.79%	35.80%	558.84%	-536.12%	-34.51%	-1,008.88%	15.66%	-15.87%	-42.45%	67.00%	95.80%	-11.54%	-134.81%
Net Cash from Operating Activities	48,550,838	42,949,850	34,958,143	6,113,644	43,939,477	95,599,393	45,042,355	24,054,382	68,161,122	12,105,239	11,603,781	21,281,478	21,680,555	44,150,785	16,300,709	-2,014,825
Net Cash from Operating Activities Margin	272.65%	89.75%	-8.66%	28.34%	133.86%	655.74%	-431.56%	62.35%	-904.45%	111.62%	78.01%	85.93%	93.58%	147.38%	55.20%	-6.11%
Capital Expenditures (PPE)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditures (PPE) 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%
Acquisitions (Net)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Acquisitions (Net) 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%
Purchases of Investments	-95,452,066	-223,469,436	-363,568,751	0	0	-286,356,199	-337,387,202	-493,603,779	-474,125,747	-456,793,431	-715,082,485	-633,874,345	-238,464,317	0	0	0
Purchases of Investments Margin	-654.73%	-2.21%	-632.78%	0.00%	0.00%	-1,964.18%	3,232.54%	-1,279.41%	6,291.32%	-4,211.98%	-4,807.41%	-2,559.42%	-1,029.28%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	353,232,264	386,623,571	449,311,824	0	696,924,370	362,772,423	368,498,116	504,922,948	524,798,064	449,008,646	708,582,868	621,850,222	255,760,583	0	0	0
Sales / Maturities of Investments Margin	1,537.16%	477.92%	794.46%	0.00%	2,123.13%	2,488.33%	-3,530.62%	1,308.75%	-6,963.70%	4,140.20%	4,763.71%	2,510.87%	1,103.94%	0.00%	0.00%	0.00%
Other Investing Activities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Investing Activities 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%
Net Cash from Investing Activities	25,472,075	23,769,261	16,050,637	0	0	76,416,224	31,110,914	11,319,169	50,672,318	-7,784,785	-6,499,617	-12,024,123	17,296,266	0	0	0
Net Cash from Investing Activities Margin	174.72%	51.08%	-50.63%	0.00%	0.00%	524.16%	-298.08%	29.34%	-672.39%	-71.78%	-43.70%	-48.55%	74.66%	0.00%	0.00%	0.00%
Net Debt Issuance	-20,666,667	-13,000,000	-10,500,000	23,000,000	-17,000,000	-68,000,000	-20,000,000	17,000,000	-44,000,000	8,000,000	9,000,000	9,000,000	-22,000,000	-15,000,000	0	0
Net Debt Issuance Margin	-137.20%	-35.18%	48.36%	106.62%	-51.79%	-466.43%	191.62%	44.06%	583.85%	73.77%	60.51%	36.34%	-94.96%	-50.07%	0.00%	0.00%
Long-Term Debt Issuance	-20,666,667	-13,000,000	-10,500,000	23,000,000	-17,000,000	-68,000,000	-20,000,000	17,000,000	-44,000,000	8,000,000	9,000,000	9,000,000	-22,000,000	-15,000,000	0	0
Long-Term Debt Issuance Margin	-137.20%	-35.18%	48.36%	106.62%	-51.79%	-466.43%	191.62%	44.06%	583.85%	73.77%	60.51%	36.34%	-94.96%	-50.07%	0.00%	0.00%
Short-Term Debt Issuance	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%
Net Stock Issuance	0	-1,501,306	-781,661	0	0	0	366,260	-7,872,791	-310,074	0	0	0	0	0	0	0
Net Stock Issuance Margin	0.00%	-4.78%	-1.98%	0.00%	0.00%	0.00%	-3.51%	-20.41%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Issuance	56,464,562	33,951,989	16,975,995	0	0	169,393,686	366,260	0	0	0	0	0	0	0	0	0
Common Stock Issuance Margin	387.30%	231.68%	115.84%	0.00%	0.00%	1,161.91%	-3.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock Repurchased	-3,119,374	-3,446,182	-1,754,099	0	-6,661,278	-2,696,843	0	-7,872,791	-310,074	0	0	0	0	0	0	0
Common Stock Repurchased Margin	-12.93%	-11.84%	-5.51%	0.00%	-20.29%	-18.50%	0.00%	-20.41%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0	-2,129,663	-1,064,831	0	0	0	-10,648,314	0	0	0	0	0	0	0	0	0
Preferred Stock Issuance Margin	0.00%	20.40%	10.20%	0.00%	0.00%	0.00%	102.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-27,841,200	-28,248,376	-25,147,506	-30,244,664	-30,244,663	-23,034,273	-25,186,827	-32,531,455	-24,981,701	-19,355,312	-20,343,100	-22,059,716	-23,493,344	-22,405,442	-24,731,869	-26,429,210
Net Dividends Paid Margin	-130.11%	-46.67%	-40.76%	-140.20%	-92.14%	-158.00%	241.32%	-84.32%	331.49%	-178.47%	-136.76%	-89.07%	-101.40%	-74.79%	-83.75%	-80.18%
Common Dividends Paid	-27,841,200	-28,248,376	-25,147,506	-30,244,664	-30,244,663	-23,034,273	-25,186,827	-32,531,455	-24,981,701	-19,355,312	-20,343,100	-22,059,716	-23,493,344	-22,405,442	-24,731,869	-26,429,210
Common Dividends Paid Margin	-130.11%	-46.67%	-40.76%	-140.20%	-92.14%	-158.00%	241.32%	-84.32%	331.49%	-178.47%	-136.76%	-89.07%	-101.40%	-74.79%	-83.75%	-80.18%
Preferred Dividends Paid	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%
Other Financing Activities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	3,253,898	33,648,653
Other Financing Activities 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%	11.02%	102.08%
Net Cash from Financing Activities	-48,507,867	-42,749,683	-36,429,166	-7,244,664	-47,244,663	-91,034,273	-44,820,567	-23,404,246	-69,291,775	-11,355,312	-11,343,100	-13,059,716	-45,493,344	-37,405,442	-21,477,971	7,219,443
Net Cash from Financing Activities Margin	-267.31%	-86.63%	5.62%	-33.58%	-143.93%	-624.42%	429.43%	-60.66%	919.45%	-104.70%	-76.26%	-52.73%	-196.36%	-124.87%	-72.73%	21.90%
Effect of FX on Cash	-25,472,075	-23,769,261	-16,173,384	0	0	-76,416,224	-31,110,914	-11,319,169	-50,672,318	7,784,785	0	0	0	0	0	0
Effect of FX on Cash Margin	-174.72%	-51.08%	48.88%	0.00%	0.00%	-524.16%	298.08%	-29.34%	672.39%	71.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Change in Cash	42,971	200,168	-960,458	-1,131,020	-3,305,186	4,565,120	221,788	650,136	-1,130,653	749,927	-4,795,193	1,087,023	-6,516,523	6,745,343	-5,177,261	5,204,618
Net Change in Cash Margin	5.33%	3.11%	-1.85%	-5.24%	-10.07%	31.31%	-2.12%	1.69%	15.00%	6.91%	-32.24%	4.39%	-28.13%	22.52%	-17.53%	15.79%
Cash at Beginning of Period	2,860,054	1,864,637	3,043,756	2,178,303	5,483,489	918,369	696,581	46,445	1,177,098	427,171	5,055,874	3,968,851	10,485,374	3,740,031	8,917,292	3,712,674
Cash at Beginning of Period Margin	11.03%	5.31%	11.01%	10.10%	16.71%	6.30%	-6.67%	0.12%	-15.62%	3.94%	33.99%	16.03%	45.26%	12.48%	30.20%	11.26%
Cash at End of Period	2,903,025	2,064,805	2,083,297	1,047,283	2,178,303	5,483,489	918,369	696,581	46,445	1,177,098	260,681	5,055,874	3,968,851	10,485,374	3,740,031	8,917,292
Cash at End of Period Margin	16.37%	8.42%	9.16%	4.85%	6.64%	37.61%	-8.80%	1.81%	-0.62%	10.85%	1.75%	20.41%	17.13%	35.00%	12.66%	27.05%
Operating Cash Flow	48,550,838	42,949,850	34,958,143	6,113,644	43,939,477	95,599,393	45,042,355	24,054,382	68,161,122	12,105,239	11,603,781	21,281,478	21,680,555	44,150,785	16,300,709	-2,014,825
Operating Cash Flow Margin	272.65%	89.75%	-8.66%	28.34%	133.86%	655.74%	-431.56%	62.35%	-904.45%	111.62%	78.01%	85.93%	93.58%	147.38%	55.20%	-6.11%
Capital Expenditure	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditure 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%
Free Cash Flow	48,550,838	42,949,850	34,958,143	6,113,644	43,939,477	95,599,393	45,042,355	24,054,382	68,161,122	12,105,239	11,603,781	21,281,478	21,680,555	44,150,785	16,300,709	-2,014,825
Free Cash Flow Margin	272.65%	89.75%	-8.66%	28.34%	133.86%	655.74%	-431.56%	62.35%	-904.45%	111.62%	78.01%	85.93%	93.58%	147.38%	55.20%	-6.11%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	2025-05-31	2024-05-31	2023-05-31	2022-05-31	2021-05-31	2020-05-31	2019-05-31	2018-05-31	2017-05-31	2016-05-31	2015-05-31	2014-05-31	2013-05-31
Revenue	22,992,009	19,423,848	16,323,717	21,571,842	32,825,251	14,578,935	-10,437,221	38,580,431	-7,536,194	10,845,101	14,874,586	24,766,371	23,168,063	29,956,430	29,532,064	32,963,155
EBITDA	4,172,011	557,080	-675,901	18,582,225	0	-6,066,191	-9,730,635	0	0	-9,544,409	0	0	0	0	0	14,617,807
EBITDA Margin	14.84%	27.55%	4.98%	86.14%	0.00%	-41.61%	93.23%	0.00%	0.00%	-88.01%	0.00%	0.00%	0.00%	0.00%	0.00%	44.35%
(-) Tax Adjustment	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Tax Adjustment 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%
(-) Change In Working Capital	401	-43,719	224,208	-217,423	67,516	151,109	168,237	-388,036	376,136	262,672	-96,064	1,563,917	354,014	-631,161	-182,733	113,416
(-) Change In Working Capital Margin	0.08%	-0.48%	0.22%	-1.01%	0.21%	1.04%	-1.61%	-1.01%	-4.99%	2.42%	-0.65%	6.31%	1.53%	-2.11%	-0.62%	0.34%
(-) Capital Expenditure	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
(-) Capital Expenditure 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%
Unlevered Free Cash Flow	4,171,611	600,799	-900,109	18,799,648	-67,516	-6,217,300	-9,898,872	388,036	-376,136	-9,807,081	96,064	-1,563,917	-354,014	631,161	182,733	14,504,391
Unlevered Free Cash Flow Margin	14.77%	28.03%	4.75%	87.15%	-0.21%	-42.65%	94.84%	1.01%	4.99%	-90.43%	0.65%	-6.31%	-1.53%	2.11%	0.62%	44.00%
(-) Net Interest Income After Taxes	24,518,358	22,033,707	15,098,174	23,423,014	26,841,924	23,290,137	18,356,936	18,256,525	21,666,006	23,742,240	-5,560,275	267,032	698,206	-1,617,277	-1,760,509	-1,811,839
(-) Net Interest Income After Taxes Margin	116.70%	44.31%	11.97%	108.58%	81.77%	159.75%	-175.88%	47.32%	-287.49%	218.92%	-37.38%	1.08%	3.01%	-5.40%	-5.96%	-5.50%
Net Debt Issuance	-20,666,667	-13,000,000	-10,500,000	23,000,000	-17,000,000	-68,000,000	-20,000,000	17,000,000	-44,000,000	8,000,000	9,000,000	9,000,000	-22,000,000	-15,000,000	0	0
Net Debt Issuance Margin	-137.20%	-35.18%	48.36%	106.62%	-51.79%	-466.43%	191.62%	44.06%	583.85%	73.77%	60.51%	36.34%	-94.96%	-50.07%	0.00%	0.00%
Levered Free Cash Flow	-41,013,414	-34,432,908	-26,498,283	18,376,634	-43,909,440	-97,507,437	-48,255,808	-868,489	-66,042,142	-25,549,321	14,656,339	7,169,051	-23,052,220	-12,751,562	1,943,242	16,316,230
Levered Free Cash Flow Margin	-239.13%	-51.46%	41.14%	85.19%	-133.77%	-668.82%	462.34%	-2.25%	876.33%	-235.58%	98.53%	28.95%	-99.50%	-42.57%	6.58%	49.50%