ValueCommerce Co., Ltd. (2491.T)

Category: Company Returns Sector: Communication Services Industry: Advertising Agencies Live Price: $667.00

Income Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Net Income	26M	25M	18M	13M	10M	19M	18M	18M	22M	37M	21M	27M	21M	17M	6M	2M	7M	6M	6M	4M	3M	4M	0M	-1M	0M	4M	1M	1M
Revenue	205M	203M	164M	131M	107M	186M	192M	195M	189M	229M	216M	187M	165M	133M	108M	112M	107M	86M	77M	61M	50M	45M	42M	44M	38M	34M	26M	18M
Return on Revenue	12.40%	12.31%	10.13%	9.12%	7.52%	10.40%	9.56%	9.39%	11.57%	16.26%	9.71%	14.63%	13.02%	12.54%	5.98%	1.97%	6.20%	7.17%	8.03%	6.58%	5.70%	8.01%	0.35%	-1.40%	0.20%	10.26%	4.27%	7.37%
Cost of Revenue	134M	130M	109M	87M	70M	129M	128M	131M	124M	147M	133M	113M	108M	89M	74M	87M	81M	60M	52M	39M	31M	27M	27M	28M	22M	15M	11M	7M
Return on Cost of Revenue	19.01%	19.41%	15.51%	14.00%	12.11%	14.99%	14.40%	13.98%	17.67%	25.37%	15.76%	24.27%	19.83%	18.79%	8.73%	2.53%	8.17%	10.18%	11.84%	10.31%	9.25%	13.27%	0.56%	-2.22%	0.36%	23.15%	10.43%	19.66%
Gross Profit	71M	74M	56M	44M	37M	57M	65M	64M	65M	82M	83M	74M	57M	44M	34M	25M	26M	25M	25M	22M	19M	18M	16M	16M	16M	19M	15M	11M
Return on Gross Profit	35.79%	33.90%	29.86%	26.73%	21.21%	33.96%	28.41%	28.60%	33.50%	45.26%	25.31%	36.84%	37.91%	37.74%	18.98%	8.83%	25.64%	24.23%	24.89%	18.17%	14.84%	20.17%	0.93%	-3.84%	0.48%	18.43%	7.24%	11.78%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on R&D Expenses	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	33M	33M	27M	21M	18M	36M	36M	37M	32M	29M	32M	34M	25M	20M	20M	19M	16M	16M	16M	16M	0M	0M	0M	0M	15M	16M	14M	10M
Return on SG&A Expenses	81.67%	78.02%	64.46%	49.78%	38.89%	53.41%	51.23%	49.03%	69.13%	126.85%	65.55%	79.53%	86.42%	82.79%	32.59%	11.56%	41.18%	39.30%	38.08%	24.66%	0.00%	0.00%	0.00%	0.00%	0.52%	22.55%	8.10%	13.25%
Operating Expenses	33M	33M	27M	23M	21M	36M	36M	37M	32M	29M	32M	34M	25M	20M	20M	19M	16M	16M	16M	16M	14M	14M	14M	15M	15M	16M	14M	10M
Return on Operating Expenses	81.65%	78.01%	64.49%	52.80%	41.00%	53.42%	51.26%	49.03%	69.11%	126.82%	65.55%	79.53%	86.72%	82.79%	32.59%	11.56%	41.16%	39.29%	38.07%	24.66%	19.89%	25.21%	1.03%	-4.07%	0.52%	22.55%	8.02%	13.07%
Operating Income (EBIT)	38M	41M	29M	22M	17M	21M	29M	27M	34M	53M	51M	40M	32M	24M	14M	6M	10M	10M	9M	6M	5M	4M	2M	1M	1M	3M	1M	1M
Return on Operating Income (EBIT)	68.00%	62.78%	60.14%	64.33%	54.52%	93.22%	63.73%	68.63%	65.00%	70.38%	41.24%	68.64%	67.35%	69.36%	45.44%	37.35%	67.97%	63.25%	71.91%	69.09%	58.42%	100.86%	9.35%	-65.20%	6.00%	101.11%	74.25%	119.43%
Interest Income	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Interest Income	0.00%	4,113.33%	4,844.19%	3,229.46%	2,405.12%	0.00%	0.00%	0.00%	0.00%	0.00%	10,866.67%	9,700.00%	27,875.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	983.63%	-1,623.07%	300.00%	0.00%	0.00%	0.00%
Interest Expense	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Interest Expense	0.00%	0.00%	0.00%	0.00%	-991.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	25,563.33%	-45,391.90%	0.00%	0.00%	0.00%	0.00%
Net Interest Income	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Interest Income	0.00%	0.00%	0.00%	0.00%	-33.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,022.99%	-1,683.26%	0.00%	0.00%	0.00%	0.00%
Unusual Items	0M	3M	2M	1M	1M	-4M	1M	0M	1M	0M	16M	-1M	0M	0M	4M	2M	0M	0M	-1M	-1M	0M	0M	1M	1M	0M	2M	0M	0M
Return on Unusual Items	-99.43%	-1,070.81%	-322.06%	-868.86%	-603.10%	-529.17%	2,013.38%	6,206.52%	1,789.47%	-8,294.29%	134.38%	-5,190.13%	6,972.14%	-3,767.70%	147.59%	118.23%	-1,336.84%	-7,913.56%	-532.03%	-659.52%	876.37%	-1,583.53%	10.76%	-77.50%	400.00%	182.33%	455.26%	-564.86%
EBT Excluding Unusual Items	37M	34M	25M	19M	14M	28M	27M	26M	31M	54M	19M	41M	31M	25M	5M	2M	11M	10M	11M	7M	4M	4M	-1M	-1M	1M	0M	1M	2M
Return on EBT Excluding Unusual Items	69.83%	76.93%	80.18%	75.64%	20.10%	68.93%	68.04%	70.18%	70.09%	69.21%	107.84%	67.33%	68.84%	66.89%	118.27%	101.45%	61.69%	62.26%	56.61%	57.13%	67.40%	89.46%	-12.51%	90.40%	6.32%	-927.12%	110.19%	83.94%
Pre-Tax Income	37M	37M	27M	20M	15M	24M	28M	26M	32M	53M	35M	40M	32M	25M	10M	4M	10M	10M	10M	6M	5M	4M	0M	0M	1M	2M	1M	1M
Return on Pre-Tax Income	68.88%	66.94%	65.59%	66.80%	42.86%	79.26%	65.81%	69.40%	67.45%	69.79%	59.83%	68.22%	68.17%	68.10%	65.66%	54.60%	64.68%	62.75%	63.35%	62.54%	62.59%	94.82%	76.88%	-543.46%	6.22%	226.97%	88.72%	98.58%
Income Tax Expense	12M	12M	9M	7M	5M	5M	10M	8M	11M	16M	14M	13M	10M	8M	3M	2M	4M	4M	4M	2M	2M	0M	0M	1M	1M	-2M	0M	0M
Return on Income Tax Expense	221.77%	205.78%	195.12%	297.08%	272.06%	382.59%	192.53%	226.95%	207.32%	231.04%	148.93%	214.68%	214.16%	213.52%	191.18%	120.26%	183.12%	168.48%	172.83%	166.97%	167.31%	1,829.38%	332.66%	-83.97%	6.45%	-180.53%	910.53%	10,450.00%
Depreciation and Amortization	3M	4M	3M	2M	2M	3M	3M	3M	3M	3M	5M	7M	3M	2M	3M	3M	1M	1M	1M	1M	1M	1M	1M	1M	1M	2M	1M	1M
Return on Depreciation and Amortization	873.81%	686.81%	566.98%	583.48%	450.55%	718.62%	649.77%	659.35%	718.82%	1,243.25%	411.10%	401.55%	684.91%	739.86%	229.40%	75.46%	506.14%	767.06%	909.91%	627.59%	350.20%	427.63%	12.22%	-50.97%	5.43%	205.64%	86.50%	143.15%
EBITDA	41M	45M	32M	24M	19M	28M	32M	30M	37M	56M	56M	47M	35M	26M	17M	7M	12M	11M	9M	6M	5M	4M	1M	2M	3M	3M	3M	2M
Return on EBITDA	62.79%	56.83%	53.60%	57.20%	49.73%	70.30%	58.00%	62.16%	59.61%	66.61%	37.48%	58.31%	61.47%	63.41%	37.93%	31.68%	57.35%	58.44%	66.64%	62.24%	53.10%	81.61%	10.54%	-28.61%	2.90%	107.89%	43.80%	58.38%
NOPAT	26M	27M	19M	14M	11M	16M	19M	19M	23M	37M	30M	27M	22M	16M	9M	3M	6M	6M	5M	4M	3M	3M	1M	-5M	0M	8M	1M	1M
Return on NOPAT	98.68%	93.12%	90.89%	95.56%	87.50%	117.58%	96.83%	98.86%	96.34%	100.85%	68.93%	100.61%	98.79%	101.84%	69.21%	68.41%	105.08%	100.80%	113.52%	110.48%	93.33%	106.37%	12.16%	11.92%	165.43%	44.79%	82.26%	120.57%
Owner's Earnings	27M	27M	19M	14M	11M	22M	19M	21M	22M	38M	23M	30M	21M	17M	7M	0M	7M	6M	6M	4M	3M	4M	1M	-1M	1M	4M	1M	0M
Return on Owner's Earnings	95.26%	93.65%	206.70%	172.83%	144.38%	89.00%	96.72%	89.27%	98.61%	97.91%	89.56%	92.88%	100.82%	97.74%	94.66%	1,209.36%	96.16%	104.26%	110.93%	111.90%	106.53%	91.90%	16.92%	109.33%	6.22%	84.67%	77.93%	0.00%

Balance Sheet Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Net Income	26M	25M	18M	13M	10M	18M	22M	37M	21M	27M	21M	17M	6M	2M	7M	6M	6M	4M	3M	4M	0M	-1M	0M	4M	1M	1M
Cash & Cash Equivalents	115M	103M	70M	56M	46M	76M	138M	130M	100M	73M	51M	51M	32M	23M	27M	30M	29M	27M	29M	25M	20M	18M	18M	20M	7M	4M
Return on Cash & Cash Equivalents	22.93%	25.44%	25.67%	22.52%	18.45%	24.25%	15.79%	28.77%	21.03%	37.37%	42.54%	32.65%	20.19%	9.57%	24.59%	20.21%	21.23%	15.15%	9.89%	14.52%	0.75%	-3.36%	0.43%	17.86%	15.52%	36.93%
Short-Term Investments	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Investments	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	115M	103M	70M	56M	46M	76M	138M	130M	100M	73M	51M	51M	32M	23M	27M	30M	29M	27M	29M	25M	20M	18M	18M	20M	7M	4M
Return on Cash & Short-Term Investments	22.93%	25.44%	25.67%	22.52%	18.45%	24.25%	15.79%	28.77%	21.03%	37.37%	42.54%	32.65%	20.19%	9.57%	24.59%	20.21%	21.23%	15.15%	9.89%	14.52%	0.75%	-3.36%	0.43%	17.86%	15.52%	36.93%
Net Receivables	35M	35M	21M	16M	13M	37M	32M	38M	41M	28M	35M	0M	0M	0M	0M	0M	0M	14M	0M	12M	11M	0M	5M	4M	4M	3M
Return on Net Receivables	72.37%	72.87%	42.57%	32.34%	29.91%	50.16%	67.77%	99.20%	50.58%	96.63%	61.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	29.29%	0.00%	30.09%	1.29%	0.00%	1.47%	79.28%	31.06%	50.61%
Inventory	0M	0M	1M	2M	1M	0M	0M	0M	0M	2M	0M	1M	1M	0M	5M	5M	7M	6M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Inventory	38,706.67%	39,795.52%	22,521.43%	15,032.45%	11,274.34%	0.00%	0.00%	116,120.00%	81,500.00%	1,357.61%	21,384.90%	2,826.91%	1,144.85%	740.09%	139.94%	114.36%	89.48%	68.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Assets	7M	7M	4M	3M	3M	1M	9M	11M	10M	3M	1M	1M	1M	1M	0M	0M	1M	0M	1M	0M	0M	7M	2M	3M	1M	0M
Return on Other Current Assets	741.87%	693.82%	1,113.27%	1,069.62%	819.48%	1,631.43%	245.49%	348.71%	217.33%	1,026.13%	2,071.66%	2,916.91%	658.60%	169.51%	1,846.91%	1,377.18%	724.66%	1,563.29%	442.03%	804.39%	35.70%	-8.97%	5.08%	138.83%	174.75%	535.90%
Total Current Assets	151M	141M	102M	83M	68M	113M	171M	168M	141M	113M	87M	82M	56M	43M	48M	49M	48M	41M	42M	37M	32M	25M	25M	27M	11M	7M
Return on Total Current Assets	17.05%	18.03%	16.59%	14.53%	11.96%	16.18%	12.75%	22.23%	14.81%	24.16%	24.83%	20.44%	11.49%	5.14%	13.87%	12.68%	13.00%	9.80%	6.83%	9.68%	0.47%	-2.45%	0.31%	13.19%	9.77%	20.53%
Property, Plant & Equipment	1M	1M	2M	1M	1M	1M	1M	1M	2M	2M	2M	2M	2M	2M	0M	0M	1M	1M	1M	1M	1M	1M	1M	2M	1M	1M
Return on Property, Plant & Equipment	2,009.79%	1,797.71%	1,322.00%	1,183.46%	900.74%	1,321.76%	1,942.86%	2,764.76%	1,364.02%	1,595.17%	957.81%	891.80%	336.56%	102.43%	1,942.88%	1,919.52%	1,195.58%	610.74%	341.18%	464.86%	16.66%	-51.06%	5.41%	204.10%	87.82%	202.91%
Goodwill	0M	1M	3M	2M	2M	0M	0M	1M	1M	4M	8M	1M	2M	4M	6M	0M	0M	0M	0M	0M	0M	0M	0M	0M	2M	0M
Return on Goodwill	5,276.32%	3,705.91%	2,039.99%	1,359.99%	1,023.18%	3,707.79%	6,538.46%	5,582.69%	2,089.74%	610.84%	253.20%	1,159.26%	299.73%	53.22%	104.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	63.60%	522.50%
Intangible Assets	6M	9M	7M	5M	5M	5M	5M	6M	6M	20M	12M	4M	4M	6M	3M	2M	2M	2M	1M	1M	1M	2M	5M	4M	1M	3M
Return on Intangible Assets	460.29%	370.59%	285.14%	285.35%	221.02%	337.87%	414.63%	628.35%	336.08%	136.01%	179.01%	411.04%	167.91%	38.04%	202.44%	249.30%	267.59%	251.30%	281.13%	379.49%	12.71%	-35.97%	1.47%	79.28%	82.78%	53.18%
Long-Term Investments	4M	4M	5M	5M	4M	5M	4M	5M	3M	4M	6M	5M	10M	7M	7M	7M	4M	2M	1M	1M	1M	2M	3M	0M	0M	0M
Return on Long-Term Investments	586.96%	638.27%	412.48%	340.67%	975.22%	392.71%	549.27%	818.90%	710.24%	720.22%	390.69%	354.83%	63.05%	30.50%	94.43%	92.61%	152.47%	188.86%	204.25%	347.04%	17.46%	-26.14%	2.92%	10,940.00%	3,460.00%	1,229.41%
Tax Assets	0M	0M	0M	0M	0M	0M	0M	1M	1M	1M	1M	0M	0M	0M	0M	0M	0M	0M	1M	1M	0M	0M	0M	0M	0M	0M
Return on Tax Assets	3,638.77%	3,843.20%	3,268.53%	3,752.19%	3,713.49%	5,386.79%	0.00%	5,529.52%	3,880.95%	4,418.72%	2,803.90%	4,499.18%	2,521.17%	658.24%	2,986.87%	19,416.02%	2,077.93%	922.15%	541.43%	640.00%	142.41%	-788.84%	400.00%	18,233.33%	0.00%	0.00%
Other Non-Current Assets	0M	0M	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	1M	0M	1M	1M	1M	1M	1M	1M	1M	1M	1M	0M	0M
Return on Other Non-Current Assets	18,856.50%	23,964.58%	16,938.53%	11,512.81%	8,660.42%	8,921.88%	20,000.00%	27,647.62%	40,750.00%	22,503.43%	13,579.45%	11,956.85%	10,907.00%	168.45%	12,950.60%	986.54%	911.03%	592.52%	349.65%	467.10%	13.70%	-53.67%	6.63%	298.91%	250.72%	720.69%
Other Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Assets	158,336.11%	21,500,201.67%	50,140,119.17%	40,854,782.78%	30,641,087.08%	71,375.00%	113,333.33%	290,300.00%	326,000.00%	106,700,000.00%	167,251,300.00%	130,239,950.00%	50,510,300.00%	11,488,900.00%	34,409,733.33%	31,952,300.00%	48,207,050.00%	31,261,200.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	12M	16M	18M	14M	12M	13M	11M	13M	12M	31M	29M	13M	19M	21M	17M	10M	8M	5M	5M	4M	4M	6M	7M	5M	5M	4M
Return on Total Non-Current Assets	209.50%	177.47%	117.76%	102.70%	81.61%	146.41%	202.02%	280.08%	170.15%	88.69%	73.69%	132.61%	34.95%	10.52%	38.49%	60.99%	78.67%	73.08%	62.15%	87.94%	3.62%	-9.48%	1.13%	73.52%	23.01%	35.91%
Total Assets	163M	157M	120M	97M	80M	126M	182M	181M	154M	144M	116M	94M	75M	64M	65M	59M	55M	46M	46M	41M	36M	31M	32M	31M	16M	10M
Return on Total Assets	15.72%	15.95%	13.83%	12.23%	10.01%	14.57%	11.99%	20.59%	13.62%	18.99%	18.57%	17.71%	8.65%	3.45%	10.20%	10.50%	11.16%	8.64%	6.15%	8.72%	0.41%	-1.94%	0.24%	11.18%	6.86%	13.06%
Accounts Payable	17M	17M	16M	13M	11M	18M	15M	17M	19M	18M	17M	16M	12M	11M	13M	11M	9M	7M	5M	11M	10M	5M	3M	2M	2M	1M
Return on Accounts Payable	153.40%	144.93%	107.56%	89.65%	77.36%	104.35%	142.56%	213.30%	109.18%	155.26%	127.54%	101.51%	52.83%	19.30%	49.74%	54.55%	71.10%	56.98%	54.23%	32.35%	1.48%	-11.85%	2.46%	143.57%	66.80%	127.44%
Short-Term Debt	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Debt	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Payables	5M	7M	5M	4M	3M	4M	2M	9M	9M	10M	7M	5M	4M	0M	2M	1M	2M	2M	2M	1M	0M	0M	0M	0M	0M	0M
Return on Tax Payables	752.47%	556.97%	436.20%	397.14%	264.00%	499.13%	1,365.46%	392.83%	239.00%	288.41%	314.41%	317.29%	184.47%	484.83%	276.19%	427.93%	263.07%	261.25%	180.31%	462.57%	263.84%	-941.09%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	1M	1M	0M	0M	0M	0M	3M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Revenue	215.05%	129.03%	64.52%	43.01%	32.26%	0.00%	645.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 Current Liabilities	24M	26M	19M	15M	12M	25M	17M	29M	27M	31M	18M	13M	14M	11M	1M	10M	12M	10M	9M	1M	1M	2M	3M	4M	4M	3M
Return on Other Current Liabilities	109.70%	98.80%	135.99%	133.65%	105.26%	72.55%	128.74%	127.80%	76.17%	88.76%	122.44%	124.14%	47.92%	19.37%	552.04%	64.74%	52.58%	39.19%	33.13%	455.19%	17.51%	-38.29%	2.43%	90.71%	28.18%	47.50%
Total Current Liabilities	42M	45M	38M	31M	25M	43M	37M	47M	47M	49M	41M	35M	29M	23M	24M	22M	23M	19M	15M	13M	11M	7M	6M	6M	6M	4M
Return on Total Current Liabilities	60.28%	56.36%	44.00%	37.53%	31.60%	42.80%	58.60%	79.45%	44.69%	56.27%	51.96%	47.49%	22.11%	9.48%	27.20%	27.69%	27.11%	21.32%	18.46%	28.35%	1.35%	-8.96%	1.22%	55.59%	19.82%	34.60%
Long-Term Debt	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Long-Term Debt	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Capital Lease Obligations	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Capital Lease Obligations	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	0M	0M	1M	0M	0M	0M	0M	0M	1M	1M	2M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Tax Liabilities	5,151.52%	3,926.24%	2,822.42%	1,881.61%	1,411.21%	0.00%	15,454.55%	0.00%	1,928.99%	2,247.64%	1,360.27%	4,554.88%	1,639.71%	1,038.15%	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	1M	1M	0M	1M	1M	0M	1M	0M	1M	0M	-1M	0M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M
Return on Other Non-Current Liabilities	4,880.08%	7,453.27%	5,224.72%	3,654.18%	2,756.79%	4,604.84%	1,857.92%	8,177.46%	4,179.49%	18,446.64%	-2,040.89%	14,343.61%	1,234.04%	227.10%	1,216.98%	876.33%	705.93%	402.98%	261.45%	318.80%	12.89%	-49.40%	5.48%	274.87%	79.36%	193.52%
Total Non-Current Liabilities	1M	1M	1M	1M	1M	0M	1M	0M	1M	1M	1M	0M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M	1M
Return on Total Non-Current Liabilities	4,813.61%	4,124.77%	3,026.72%	2,188.85%	1,657.79%	4,604.84%	1,658.54%	8,177.46%	4,179.49%	2,003.52%	4,078.85%	3,457.07%	704.12%	186.34%	1,216.98%	876.33%	705.93%	402.98%	261.45%	318.80%	12.89%	-49.40%	5.48%	274.87%	79.36%	193.52%
Total Liabilities	43M	45M	38M	32M	26M	43M	38M	47M	47M	50M	42M	36M	30M	25M	25M	23M	24M	20M	17M	14M	12M	8M	8M	8M	7M	5M
Return on Total Liabilities	59.61%	55.56%	43.30%	36.63%	30.31%	42.40%	57.74%	78.68%	44.22%	54.73%	51.31%	46.84%	21.44%	9.02%	26.60%	26.84%	26.11%	20.25%	17.24%	26.04%	1.23%	-7.59%	1.00%	46.24%	15.86%	29.35%
Preferred Stock	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	11M	5M	4M
Return on Common Stock	232.66%	226.72%	161.60%	121.43%	93.54%	165.22%	196.76%	336.00%	188.66%	246.95%	193.55%	150.72%	58.45%	19.94%	59.73%	55.46%	55.79%	36.18%	25.69%	32.38%	1.34%	-5.56%	0.70%	32.14%	20.79%	32.35%
Retained Earnings	126M	109M	72M	53M	41M	136M	127M	116M	90M	78M	58M	43M	29M	24M	23M	19M	15M	14M	12M	9M	6M	6M	6M	6M	3M	1M
Return on Retained Earnings	20.92%	24.25%	25.82%	28.28%	25.93%	13.48%	17.20%	32.06%	23.26%	35.23%	37.27%	39.08%	22.39%	9.41%	28.81%	33.26%	41.80%	28.08%	24.24%	38.69%	2.60%	-11.06%	1.25%	57.94%	43.58%	93.72%
Accumulated OCI	2M	2M	1M	1M	1M	2M	2M	2M	1M	1M	1M	1M	1M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accumulated OCI	1,451.94%	1,670.36%	1,580.87%	1,338.34%	1,003.76%	1,142.00%	1,218.64%	1,995.19%	1,841.81%	2,154.17%	2,163.80%	2,013.15%	627.46%	306.37%	2,346.12%	1,430.70%	2,835.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Minority Interest	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Minority Interest	0.00%	0.00%	0.00%	0.00%	670.57%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	10,940.00%	2,471.43%	0.00%
Total Shareholders’ Equity	120M	112M	82M	65M	54M	83M	144M	134M	106M	94M	74M	59M	45M	40M	40M	36M	32M	27M	30M	27M	24M	23M	24M	24M	9M	6M
Return on Total Shareholders’ Equity	21.74%	22.80%	20.82%	18.84%	15.40%	22.20%	15.14%	27.89%	19.68%	29.08%	29.11%	28.48%	14.50%	5.59%	16.53%	17.24%	19.49%	15.07%	9.56%	13.10%	0.63%	-2.61%	0.32%	14.77%	12.15%	23.91%
Total Equity	120M	112M	82M	65M	54M	83M	144M	134M	106M	94M	74M	59M	45M	40M	40M	36M	32M	27M	30M	27M	24M	23M	24M	24M	9M	6M
Return on Total Equity	21.74%	22.80%	20.82%	18.84%	15.39%	22.20%	15.14%	27.89%	19.68%	29.08%	29.11%	28.48%	14.50%	5.59%	16.53%	17.24%	19.49%	15.07%	9.56%	13.10%	0.63%	-2.61%	0.32%	14.75%	12.09%	23.91%
Total Liabilities & Equity	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Total Liabilities & Equity	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	4M	4M	5M	5M	4M	5M	4M	5M	3M	4M	6M	5M	10M	7M	7M	7M	4M	2M	1M	1M	1M	2M	3M	0M	0M	0M
Return on Total Investments	586.96%	638.27%	412.48%	340.67%	975.22%	392.71%	549.27%	818.90%	710.24%	720.22%	390.69%	354.83%	63.05%	30.50%	94.43%	92.61%	152.47%	188.86%	204.25%	347.04%	17.46%	-26.14%	2.92%	10,940.00%	3,460.00%	1,229.41%
Net Debt	-115M	-103M	-70M	-56M	-46M	-76M	-138M	-130M	-100M	-73M	-51M	-51M	-32M	-23M	-27M	-30M	-29M	-27M	-29M	-25M	-20M	-18M	-18M	-20M	-7M	-4M
Return on Net Debt	-22.93%	-25.44%	-25.67%	-22.52%	-18.45%	-24.25%	-15.79%	-28.77%	-21.03%	-37.37%	-42.54%	-32.65%	-20.19%	-9.57%	-24.59%	-20.21%	-21.23%	-15.15%	-9.89%	-14.52%	-0.75%	3.36%	-0.43%	-17.86%	-15.52%	-36.93%

Capital Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Net Income	26M	25M	18M	13M	10M	18M	22M	37M	21M	27M	21M	17M	6M	2M	7M	6M	6M	4M	3M	4M	0M	-1M	0M	4M	1M	1M
Working Capital	108M	97M	65M	51M	43M	70M	134M	121M	95M	65M	45M	47M	27M	20M	23M	26M	25M	22M	26M	24M	21M	18M	19M	20M	6M	3M
Return on Working Capital	24.39%	27.53%	28.46%	25.11%	20.55%	26.02%	16.30%	30.86%	22.14%	42.35%	47.55%	35.89%	23.93%	11.22%	28.30%	23.39%	24.99%	18.13%	10.83%	14.69%	0.72%	-3.36%	0.41%	17.29%	19.27%	50.48%
Total Capital	120M	112M	82M	65M	54M	83M	144M	134M	106M	94M	74M	59M	45M	40M	40M	36M	32M	27M	30M	27M	24M	23M	24M	24M	9M	6M
Return on Total Capital	21.74%	22.80%	20.82%	18.84%	15.40%	22.20%	15.14%	27.89%	19.68%	29.08%	29.11%	28.48%	14.50%	5.59%	16.53%	17.24%	19.49%	15.07%	9.56%	13.10%	0.63%	-2.61%	0.32%	14.77%	12.15%	23.91%
Capital Employed	121M	113M	83M	65M	55M	83M	145M	134M	107M	96M	74M	59M	46M	41M	41M	36M	33M	28M	31M	29M	25M	25M	25M	25M	11M	6M
Return on Capital Employed	21.66%	22.64%	20.63%	18.57%	15.07%	22.10%	15.08%	27.79%	19.59%	28.67%	28.90%	28.25%	14.20%	5.43%	16.31%	16.91%	18.97%	14.53%	9.22%	12.59%	0.60%	-2.48%	0.30%	14.00%	10.48%	20.98%
Invested Capital	6M	9M	12M	9M	8M	7M	6M	4M	7M	21M	23M	8M	13M	16M	13M	5M	3M	0M	1M	3M	4M	5M	6M	4M	2M	2M
Return on Invested Capital	515.04%	396.42%	241.26%	397.65%	304.98%	263.38%	365.98%	915.77%	305.82%	131.16%	92.17%	223.04%	51.39%	13.45%	50.46%	117.26%	238.15%	2,773.60%	288.84%	134.25%	3.78%	-11.73%	1.31%	85.47%	55.99%	67.86%

Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31
Net Income	26M	25M	18M	13M	10M	19M	18M	18M	22M	37M	21M	27M	21M	17M	6M	2M	7M	6M	6M	4M	3M	4M	0M	-1M	0M	4M	1M
Depreciation & Amortization	3M	4M	3M	2M	2M	3M	3M	3M	3M	3M	5M	7M	3M	2M	3M	3M	1M	1M	1M	1M	1M	1M	1M	1M	1M	2M	1M
Return on Depreciation & Amortization	873.81%	686.81%	568.95%	584.79%	451.54%	718.62%	649.77%	659.35%	718.82%	1,243.25%	411.10%	401.55%	704.59%	739.86%	229.40%	75.46%	506.14%	767.06%	909.91%	627.59%	350.20%	427.63%	12.22%	-50.97%	5.43%	205.64%	86.50%
Deferred Income Tax	0M	0M	0M	-1M	-1M	0M	-3M	0M	0M	0M	0M	0M	0M	0M	0M	0M	-3M	-5M	-4M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Deferred Income Tax	0.00%	0.00%	-19.07%	-163.48%	-122.61%	0.00%	-581.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-190.74%	-127.30%	-168.48%	0.00%	0.00%	-1,965.62%	0.00%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	26,364.14%	15,818.48%	9,269.49%	7,151.35%	5,363.51%	50,183.33%	13,614.29%	11,895.83%	30,909.09%	36,287.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	13,602.48%	4,171.14%	5,463.79%	0.00%	0.00%	4,940.38%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	2M	1M	0M	0M	0M	-5M	0M	-3M	6M	4M	-4M	-1M	-1M	-2M	-3M	2M	-1M	0M	-1M	2M	1M	1M	-1M	-1M	0M	0M	0M
Return on Change in Working Capital	218.58%	-803.15%	-698.98%	-724.44%	-541.03%	-424.68%	-10,588.89%	-706.68%	352.70%	1,009.74%	-570.93%	-4,100.57%	-1,461.64%	-872.50%	-249.29%	109.34%	-499.95%	-4,285.26%	-585.41%	223.08%	198.91%	571.86%	-12.67%	58.72%	0.00%	0.00%	0.00%
Accounts Receivable	2M	0M	-2M	-1M	-1M	9M	-2M	-3M	5M	4M	-4M	-3M	-3M	-6M	-5M	2M	-3M	-1M	-3M	-1M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Receivable	267.77%	-156.36%	-204.93%	-213.30%	-159.98%	207.66%	-1,221.79%	-598.53%	407.67%	994.18%	-536.18%	-1,048.95%	-757.68%	-268.32%	-138.15%	135.01%	-238.40%	-518.15%	-215.21%	-416.82%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Inventory	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	-3M	-2M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Inventory	2,580.44%	1,747.51%	731.29%	487.53%	365.64%	0.00%	0.00%	0.00%	0.00%	7,741.33%	1,975.76%	-979.54%	-1,424.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Accounts Payable	-1M	0M	0M	0M	0M	-6M	1M	2M	-2M	-2M	2M	1M	0M	4M	1M	-2M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Payable	-797.48%	467.68%	-812.67%	-541.78%	-406.33%	-309.14%	1,329.77%	815.71%	-1,008.90%	-2,199.24%	1,364.02%	3,366.83%	-11,542.93%	398.45%	798.38%	-118.97%	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	1M	1M	1M	1M	1M	-9M	0M	-2M	3M	1M	-2M	4M	3M	-1M	3M	2M	0M	2M	-1M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Working Capital	1,036.31%	583.66%	808.97%	504.52%	378.39%	-225.04%	-35,737.50%	-844.67%	728.05%	3,225.56%	-888.28%	697.67%	702.14%	-2,741.26%	226.06%	102.48%	6,881.95%	309.22%	-831.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Cash Items	-7M	-6M	-5M	-3M	-2M	1M	8M	4M	-9M	-17M	-2M	-8M	-7M	-7M	4M	-3M	0M	1M	0M	-3M	-1M	0M	2M	1M	0M	-2M	2M
Return on Other Non-Cash Items	13.73%	-294.35%	-441.80%	-45.28%	-41.65%	1,601.60%	234.15%	516.27%	-252.04%	-223.05%	-1,189.78%	-323.18%	-300.91%	-232.24%	159.96%	-86.20%	-2,486.79%	698.38%	2,008.17%	-136.74%	-214.38%	1,383.27%	8.70%	-60.73%	21.43%	-191.26%	68.11%
Net Cash from Operating Activities	29M	32M	23M	17M	14M	19M	25M	22M	22M	44M	35M	38M	26M	18M	14M	6M	7M	7M	6M	6M	5M	5M	2M	1M	2M	3M	4M
Return on Net Cash from Operating Activities	88.46%	79.64%	75.70%	75.77%	61.59%	103.29%	72.23%	82.49%	97.17%	85.71%	60.40%	72.41%	82.77%	94.49%	45.81%	34.35%	101.37%	92.40%	100.78%	67.79%	52.10%	66.44%	7.64%	-47.86%	4.15%	103.80%	27.59%
Capital Expenditures (PPE)	-1M	-2M	-2M	-2M	-2M	-3M	-3M	-1M	0M	-2M	-3M	-5M	-3M	-2M	-2M	-5M	-1M	-1M	-1M	-1M	-1M	-1M	0M	-1M	0M	-1M	-1M
Return on Capital Expenditures (PPE)	-4,859.74%	-3,189.76%	-1,844.99%	-1,391.00%	-1,065.72%	-752.75%	-649.77%	-3,172.22%	-9,714.29%	-1,692.71%	-789.35%	-580.24%	-666.26%	-892.30%	-263.54%	-44.59%	-634.37%	-584.07%	-479.86%	-376.38%	-288.30%	-686.55%	-30.57%	53.29%	-30.00%	-327.54%	-114.57%
Acquisitions (Net)	0M	-1M	-3M	-2M	-1M	-2M	-1M	-1M	0M	0M	0M	-3M	-17M	4M	-2M	-3M	-7M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Acquisitions (Net)	-732.05%	-602.67%	-320.44%	-1,024.68%	-723.03%	-904.20%	-2,199.23%	-2,196.15%	0.00%	0.00%	0.00%	-817.21%	-126.66%	385.71%	-293.46%	-66.77%	-89.88%	730.77%	0.00%	-12,896.53%	0.00%	0.00%	0.00%	909.57%	0.00%	0.00%	0.00%
Purchases of Investments	-1M	0M	0M	-1M	0M	-3M	-1M	-1M	0M	0M	0M	0M	0M	0M	-1M	-1M	-1M	-2M	-1M	0M	0M	0M	0M	-1M	0M	0M	0M
Return on Purchases of Investments	-17,682.83%	-13,166.84%	-8,321.34%	-5,612.09%	-4,206.68%	-627.29%	-2,802.94%	-1,751.53%	-42,500.00%	-8,796.97%	0.00%	-12,785.72%	-10,108.87%	-5,201.07%	-596.66%	-390.37%	-1,082.23%	-292.77%	-675.24%	0.00%	0.00%	0.00%	0.00%	47.82%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	0M	-1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	-4M	3M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	0M	0M	0M
Return on Sales / Maturities of Investments	6,344.44%	3,662.21%	7,421.74%	5,137.55%	3,850.78%	0.00%	19,060.00%	19,033.33%	0.00%	0.00%	0.00%	-722.29%	787.79%	1,611.73%	49,985.45%	2,178.13%	1,343.20%	2,845.94%	0.00%	0.00%	0.00%	0.00%	0.00%	-47.67%	0.00%	0.00%	0.00%
Other Investing Activities	-1M	1M	1M	0M	0M	0M	-2M	-2M	-2M	0M	3M	4M	-2M	1M	2M	2M	1M	-1M	-2M	0M	0M	0M	0M	0M	-3M	-1M	-2M
Return on Other Investing Activities	4,014.09%	2,680.68%	1,601.08%	5,048.63%	2,967.65%	-100,366.67%	-823.92%	-839.71%	-941.83%	13,823.81%	729.31%	631.80%	-872.02%	1,970.06%	281.21%	125.96%	1,102.24%	-730.77%	-296.66%	57,837.56%	-6,479.81%	9,388.30%	-7,543.28%	-8,413.33%	-2.35%	-359.87%	-57.67%
Net Cash from Investing Activities	-3M	-3M	-5M	-4M	-3M	-8M	-4M	-5M	-3M	-2M	0M	-8M	-20M	4M	-3M	-7M	-8M	-3M	-2M	-1M	-1M	0M	0M	-1M	-4M	-2M	-3M
Return on Net Cash from Investing Activities	-942.28%	1,281.53%	641.25%	302.52%	217.31%	-247.62%	-434.50%	-403.25%	-841.58%	-1,582.02%	9,588.24%	-353.73%	-106.70%	415.34%	-188.60%	-31.68%	-83.51%	-209.36%	-280.51%	-368.04%	-276.02%	-740.72%	-30.44%	50.81%	-2.18%	-171.47%	-38.36%
Net Debt Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Debt Issuance	-15,861.11%	-9,516.67%	-4,992.80%	-3,328.53%	-2,496.40%	-150,550.00%	-142,950.00%	-47,583.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,344.67%	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	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Long-Term Debt Issuance	-15,861.11%	-9,516.67%	-4,992.80%	-3,328.53%	-2,496.40%	-150,550.00%	-142,950.00%	-47,583.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,344.67%	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	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Debt Issuance	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	-24M	-14M	-7M	-5M	-3M	0M	-71M	-71M	0M	0M	0M	0M	0M	0M	-1M	-1M	0M	0M	0M	-6M	0M	0M	0M	0M	0M	11M	2M
Return on Net Stock Issuance	161,708.06%	156,004.84%	85,147.63%	61,502.53%	46,413.97%	-4,779.37%	-25.99%	-25.81%	340,000.00%	145,150.00%	81,500.00%	213,400.00%	49,358.51%	6,283.44%	-677.99%	-150.95%	16,639.14%	46,759.46%	13,812.91%	-70.29%	7,925.04%	2,634.48%	7,669.00%	-2,072.24%	66.67%	31.44%	46.51%
Common Stock Issuance	0M	0M	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	11M	2M
Return on Common Stock Issuance	161,716.67%	156,010.00%	122,809.39%	91,246.34%	68,721.82%	0.00%	0.00%	0.00%	340,000.00%	145,150.00%	81,500.00%	213,400.00%	48,164.52%	6,251.02%	2,351.18%	374,638.04%	16,639.14%	46,759.46%	13,812.91%	69,469.33%	7,925.04%	2,634.48%	7,669.00%	-2,072.24%	66.67%	31.44%	46.51%
Common Stock Repurchased	-24M	-14M	-7M	-5M	-4M	0M	-71M	-71M	0M	0M	0M	0M	0M	0M	-1M	-1M	0M	0M	0M	-6M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Repurchased	-8.60%	-5.16%	-320,347.16%	-213,569.46%	-160,177.09%	-4,779.37%	-25.99%	-25.81%	0.00%	0.00%	0.00%	0.00%	-1,991,086.90%	-1,211,534.42%	-673.62%	-150.89%	0.00%	0.00%	0.00%	-70.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock Issuance	0.00%	0.00%	-240.53%	-160.35%	-120.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2,405.31%	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	-10M	-9M	-6M	-4M	-3M	-8M	-9M	-9M	-11M	-11M	-9M	-7M	-7M	-3M	-1M	-2M	-2M	-2M	-1M	-1M	0M	0M	0M	0M	0M	0M	0M
Return on Net Dividends Paid	-243.89%	-270.36%	-332.83%	-342.25%	-256.69%	-245.40%	-198.27%	-198.13%	-195.40%	-338.15%	-241.12%	-379.02%	-325.53%	-580.03%	-627.93%	-130.09%	-312.85%	-251.88%	-467.88%	-279.93%	-805.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Dividends Paid	-10M	-9M	-6M	-4M	-3M	-8M	-9M	-9M	-11M	-11M	-9M	-7M	-7M	-3M	-1M	-2M	-2M	-2M	-1M	-1M	0M	0M	0M	0M	0M	0M	0M
Return on Common Dividends Paid	-243.89%	-270.36%	-332.83%	-342.25%	-256.69%	-245.40%	-198.27%	-198.13%	-195.40%	-338.15%	-241.12%	-379.02%	-325.53%	-580.03%	-627.93%	-130.09%	-312.85%	-251.88%	-467.88%	-279.93%	-805.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Dividends Paid	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Dividends Paid	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Financing Activities	-141,703.17%	-112,583.30%	-26,206,411.83%	-17,473,758.87%	-13,105,319.15%	-301,100.00%	-71,475.00%	-285,500.00%	-56,666.67%	-82,942.86%	-46,571.43%	-91,235.57%	-944,922.60%	-260,479,900.00%	2,405.31%	-16,334.93%	-62,449.61%	-60,477.54%	73,542.41%	-55,329.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Cash from Financing Activities	-34M	-24M	-13M	-10M	-7M	-8M	-80M	-80M	-11M	-11M	-9M	-7M	-7M	-3M	-2M	-3M	-2M	-2M	-1M	-7M	0M	0M	0M	0M	0M	11M	2M
Return on Net Cash from Financing Activities	-185.07%	-234.79%	-290.24%	-130.72%	189.03%	-232.87%	-22.97%	-22.82%	-194.84%	-337.56%	-240.59%	-378.12%	-327.58%	-639.02%	-377.11%	-67.57%	-317.22%	-252.19%	-487.49%	-56.13%	-897.10%	2,634.48%	7,669.00%	-2,072.24%	66.67%	31.44%	46.51%
Effect of FX on Cash	0M	0M	0M	0M	0M	0M	130M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Effect of FX on Cash	-288,700.00%	-85,533,220.00%	-43,003,135.65%	-28,536,369.12%	-21,400,169.85%	0.00%	14.16%	-285,500.00%	0.00%	-580,600.00%	0.00%	-426,800,000.00%	-1,889,845.20%	-416,767.84%	208,289.90%	-8,860.33%	-258,073.00%	85,433.96%	630,157.52%	516,714.05%	986,226.67%	-232,712.50%	38,345.00%	3,794.71%	0.00%	0.00%	0.00%
Net Change in Cash	-8M	5M	5M	4M	4M	3M	-59M	-63M	9M	30M	26M	23M	-1M	19M	9M	-4M	-3M	1M	3M	-2M	4M	5M	1M	0M	-2M	13M	4M
Return on Net Change in Cash	115.50%	109.28%	-244.66%	-117.95%	-120.04%	741.63%	-31.25%	-29.26%	251.85%	123.90%	79.98%	119.92%	-2,905.11%	87.54%	72.04%	-57.58%	-189.91%	477.96%	232.14%	-172.99%	69.16%	71.04%	10.18%	-696.35%	-4.94%	28.08%	31.51%
Cash at Beginning of Period	123M	98M	66M	52M	43M	301M	485M	138M	130M	100M	73M	51M	51M	32M	23M	27M	30M	29M	27M	29M	25M	20M	18M	18M	20M	7M	4M
Return on Cash at Beginning of Period	22.52%	30.08%	30.24%	26.04%	23.40%	6.42%	3.79%	13.26%	16.85%	37.46%	28.54%	54.28%	41.93%	52.07%	28.06%	8.21%	21.77%	21.11%	23.36%	13.93%	11.54%	18.25%	0.81%	-3.38%	0.39%	49.06%	30.57%
Cash at End of Period	115M	103M	70M	56M	46M	304M	426M	76M	138M	130M	100M	73M	51M	51M	32M	23M	27M	30M	29M	27M	29M	25M	20M	18M	18M	20M	7M
Return on Cash at End of Period	22.93%	25.44%	25.67%	22.52%	18.45%	6.36%	4.31%	24.25%	15.79%	28.77%	21.03%	37.37%	42.54%	32.65%	20.19%	9.57%	24.59%	20.21%	21.23%	15.15%	9.89%	14.52%	0.75%	-3.36%	0.43%	17.86%	15.52%
Operating Cash Flow	29M	32M	23M	17M	14M	19M	25M	22M	22M	44M	35M	38M	26M	18M	14M	6M	7M	7M	6M	6M	5M	5M	2M	1M	2M	3M	4M
Return on Operating Cash Flow	88.46%	79.64%	75.70%	75.77%	61.59%	103.29%	72.23%	82.49%	97.17%	85.71%	60.40%	72.41%	82.77%	94.49%	45.81%	34.35%	101.37%	92.40%	100.78%	67.79%	52.10%	66.44%	7.64%	-47.86%	4.15%	103.80%	27.59%
Capital Expenditure	-2M	-3M	-3M	-2M	-2M	0M	-2M	-1M	-3M	-2M	-3M	-5M	-3M	-2M	-2M	-5M	-1M	-1M	-1M	-1M	-1M	-1M	0M	-1M	0M	-1M	-1M
Return on Capital Expenditure	-1,888.31%	-1,406.90%	-953.56%	-796.72%	-620.01%	-6,406.38%	-833.53%	-3,172.22%	-800.00%	-1,692.71%	-789.35%	-580.24%	-666.26%	-892.30%	-263.54%	-44.59%	-634.37%	-584.07%	-479.86%	-376.38%	-288.30%	-686.55%	-30.57%	53.29%	-30.00%	-327.54%	-114.57%
Free Cash Flow	28M	30M	21M	15M	12M	18M	23M	22M	20M	41M	32M	33M	23M	16M	12M	1M	5M	6M	5M	5M	4M	5M	1M	0M	2M	2M	3M
Return on Free Cash Flow	95.19%	86.74%	95.96%	94.45%	57.53%	104.99%	79.09%	84.69%	110.61%	90.28%	65.41%	82.73%	94.51%	105.68%	55.45%	149.54%	120.65%	109.77%	127.58%	82.68%	63.59%	73.56%	10.19%	-469.43%	4.82%	151.94%	36.34%

Free Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31
Net Income	31M	34M	25M	19M	14M	19M	18M	18M	22M	53M	35M	40M	32M	25M	10M	4M	10M	10M	10M	6M	5M	4M	0M	0M	0M	4M	1M
EBITDA	41M	45M	32M	24M	19M	28M	32M	30M	37M	56M	56M	47M	35M	26M	17M	7M	12M	11M	9M	6M	5M	4M	1M	2M	3M	3M	3M
Return on EBITDA	72.40%	73.06%	75.31%	81.45%	69.77%	70.30%	58.00%	62.16%	59.61%	95.43%	62.64%	85.48%	90.17%	93.11%	57.77%	58.02%	88.67%	93.12%	105.20%	99.52%	84.84%	86.07%	13.72%	5.26%	2.90%	107.89%	43.80%
(-) Tax Adjustment	13M	15M	11M	8M	6M	6M	11M	9M	12M	17M	22M	15M	11M	8M	6M	3M	4M	4M	3M	2M	2M	0M	0M	4M	3M	-4M	0M
Return on (-) Tax Adjustment	234.14%	225.47%	224.96%	329.31%	268.42%	339.36%	169.68%	203.28%	183.22%	315.92%	155.93%	268.99%	283.29%	291.92%	168.21%	127.79%	251.04%	250.01%	287.03%	265.69%	226.78%	1,660.61%	59.34%	2.63%	3.01%	-85.81%	449.50%
(-) Change In Working Capital	2M	1M	0M	0M	0M	-5M	0M	-3M	6M	4M	-4M	-1M	-1M	-2M	-3M	2M	-1M	0M	-1M	2M	1M	1M	-1M	-1M	0M	0M	0M
Return on (-) Change In Working Capital	364.27%	-1,174.48%	-1,025.00%	-1,115.02%	-837.63%	-424.68%	-10,588.89%	-706.68%	352.70%	1,446.78%	-954.29%	-6,010.89%	-2,144.14%	-1,281.12%	-379.68%	200.26%	-772.96%	-6,828.76%	-924.13%	356.68%	317.80%	603.12%	-16.48%	-10.81%	0.00%	0.00%	0.00%
(-) Capital Expenditure	-2M	-3M	-3M	-2M	-2M	0M	-2M	-1M	-3M	-2M	-3M	-5M	-3M	-2M	-2M	-5M	-1M	-1M	-1M	-1M	-1M	-1M	0M	-1M	0M	-1M	-1M
Return on (-) Capital Expenditure	-2,132.53%	-1,713.50%	-1,231.89%	-1,052.91%	-815.77%	-6,406.38%	-833.53%	-3,172.22%	-800.00%	-2,425.36%	-1,319.37%	-850.55%	-977.37%	-1,310.20%	-401.38%	-81.67%	-980.78%	-930.74%	-757.51%	-601.80%	-460.62%	-724.08%	-39.76%	-9.81%	-30.00%	-327.54%	-114.57%
Unlevered Free Cash Flow	24M	27M	19M	14M	11M	26M	19M	22M	16M	33M	34M	28M	22M	18M	11M	-3M	8M	6M	6M	1M	1M	3M	2M	-2M	0M	6M	1M
Return on Unlevered Free Cash Flow	126.93%	125.17%	99.63%	166.79%	129.99%	74.20%	97.64%	81.51%	138.25%	161.04%	101.62%	143.43%	142.80%	136.40%	86.90%	-127.76%	132.12%	172.09%	172.91%	549.70%	485.43%	125.36%	10.92%	-5.01%	-48.03%	55.96%	84.18%
(-) Net Interest Income After Taxes	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on (-) Net Interest Income After Taxes	0.00%	10,240.30%	11,118.69%	7,412.46%	6,043.95%	0.00%	0.00%	0.00%	0.00%	0.00%	30,359.51%	20,841.97%	59,985.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,730.50%	-309.73%	8,271.43%	0.00%	0.00%
Net Debt Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Debt Issuance	-15,861.11%	-9,516.67%	-5,187.77%	-3,458.51%	-2,593.88%	-150,550.00%	-142,950.00%	-47,583.33%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4,294.32%	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	24M	27M	19M	14M	11M	26M	19M	22M	16M	33M	34M	28M	22M	18M	11M	-3M	8M	6M	6M	1M	1M	3M	2M	-2M	0M	6M	1M
Return on Levered Free Cash Flow	126.98%	125.47%	100.18%	167.15%	130.28%	74.24%	97.71%	81.65%	138.25%	161.04%	101.96%	144.43%	143.14%	136.40%	86.90%	-124.07%	132.12%	172.09%	172.91%	549.70%	485.43%	125.36%	10.99%	-5.10%	-47.75%	55.96%	84.18%