Cash flow Novo Nordisk A/S

Equities

NOVO B

DK0062498333

Pharmaceuticals

Market Closed - Nasdaq Copenhagen Other stock markets 09:50:00 12/12/2025 pm IST			5-day change	1st Jan Change
321.15 ^DKK	+0.45%		+3.73%	-48.55%

12:28am	Sector Update: Health Care Stocks Edge Higher Friday Afternoon	MT
09:48pm	European Equities Traded in the US as American Depositary Receipts Lower in Friday Trading; Shares Still Up This Week	MT

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Published financial data: NOVO NORDISK A/S

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	13TCr	14TCr	18TCr	23TCr	29TCr
Total Revenues	13TCr	14TCr	18TCr	23TCr	29TCr
Cost of Goods Sold, Total	2.09TCr	2.37TCr	2.84TCr	3.58TCr	4.36TCr
Gross Profit	11TCr	12TCr	15TCr	20TCr	25TCr
Selling General & Admin Expenses, Total	3.69TCr	4.11TCr	5.07TCr	6.16TCr	6.74TCr
R&D Expenses	1.51TCr	1.72TCr	2.33TCr	3.1TCr	4.01TCr
Other Operating Expenses	-46Cr	-46Cr	-108.5Cr	-12Cr	-48Cr
Other Operating Expenses, Total	5.15TCr	5.78TCr	7.29TCr	9.25TCr	11TCr
Operating Income	5.45TCr	5.93TCr	7.56TCr	10TCr	14TCr
Interest Expense, Total	-39Cr	-29Cr	-38Cr	-54Cr	-164Cr
Interest And Investment Income	34Cr	23Cr	24Cr	106.9Cr	183.8Cr
Net Interest Expenses	-5.3Cr	-5.8Cr	-14Cr	53Cr	20Cr
Income (Loss) On Equity Invest.	15Cr	-2.4Cr	-19Cr	8.1Cr	-1.7Cr
Currency Exchange Gains (Loss)	-75Cr	34Cr	-465.1Cr	165.2Cr	-102.3Cr
Other Non Operating Income (Expenses)	-15Cr	-12Cr	-18Cr	-20Cr	-29Cr
EBT, Excl. Unusual Items	5.37TCr	5.95TCr	7.05TCr	11TCr	14TCr
Merger & Related Restructuring Charges	-	-12Cr	-5.1Cr	-	-98Cr
Gain (Loss) On Sale Of Investments	-20Cr	30Cr	-59Cr	3.7Cr	-1.7Cr
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-35Cr	-57Cr	-76Cr	-141.4Cr	-1.06TCr
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	5.31TCr	5.91TCr	6.91TCr	10TCr	13TCr
Income Tax Expense	1.1TCr	1.13TCr	1.35TCr	2.1TCr	2.62TCr
Earnings From Continuing Operations	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Net Income to Company	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Net Income - (IS)	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Net Income to Common Incl Extra Items	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Net Income to Common Excl. Extra Items	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Per Share Items
Net EPS - Basic	9.03	10.4	12.26	18.67	22.67
Basic EPS - Continuing Operations	9.03	10.4	12.26	18.67	22.67
Basic Weighted Average Shares Outstanding	466.78Cr	459.32Cr	453.06Cr	448.28Cr	445.39Cr
Net EPS - Diluted	9	10.37	12.22	18.62	22.63
Diluted EPS - Continuing Operations	9	10.37	12.22	18.62	22.63
Diluted Weighted Average Shares Outstanding	468Cr	460.62Cr	454.46Cr	449.48Cr	446.3Cr
Normalized Basic EPS	7.19	8.09	9.72	14.79	19.47
Normalized Diluted EPS	7.17	8.07	9.69	14.75	19.43
Dividend Per Share	4.55	5.2	6.2	9.4	11.4
Payout Ratio	47.75	45.06	45.57	37.96	43.71
American Depositary Receipts Ratio (ADR)	0	0	0	0	0
Supplemental Items
EBITDA	5.88TCr	6.36TCr	8.09TCr	11TCr	15TCr
EBITA	5.56TCr	6.02TCr	7.7TCr	11TCr	14TCr
EBIT	5.45TCr	5.93TCr	7.56TCr	10TCr	14TCr
EBITDAR	5.91TCr	6.49TCr	8.24TCr	11TCr	-
Effective Tax Rate - (Ratio)	20.69	19.17	19.6	20.05	20.6
Total Current Taxes	1.1TCr	1.33TCr	1.82TCr	2.5TCr	3.23TCr
Total Deferred Taxes	-20L	-194.5Cr	-463.1Cr	-401.1Cr	-605.1Cr
Normalized Net Income	3.35TCr	3.72TCr	4.4TCr	6.63TCr	8.67TCr
Interest on Long-Term Debt	9.7Cr	-	-	-	-
Non-Cash Pension Expense	14Cr	14Cr	18Cr	13Cr	16Cr
Supplemental Operating Expense Items
Selling and Marketing Expenses	3.29TCr	3.7TCr	4.62TCr	5.67TCr	6.21TCr
General and Administrative Expenses	395.8Cr	405Cr	446.7Cr	485.5Cr	527.6Cr
Research And Development Expense From Footnotes	1.55TCr	1.78TCr	2.4TCr	3.24TCr	4.81TCr
Net Rental Expense, Total	31Cr	130.3Cr	149.1Cr	183.2Cr	-
Imputed Operating Lease Interest Expense	13Cr	16Cr	17Cr	30Cr	-
Imputed Operating Lease Depreciation	18Cr	114.02Cr	131.9Cr	153.11Cr	-
Stock-Based Comp., Other (Total)	82Cr	104Cr	153.9Cr	214.9Cr	228.9Cr
Total Stock-Based Compensation	82Cr	104Cr	153.9Cr	214.9Cr	228.9Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.28TCr	1.07TCr	1.27TCr	1.44TCr	1.57TCr
Short Term Investments	-	676.5Cr	1.09TCr	1.58TCr	1.07TCr
Total Cash And Short Term Investments	1.28TCr	1.75TCr	2.36TCr	3.02TCr	2.63TCr
Accounts Receivable, Total	2.77TCr	4.06TCr	5.06TCr	6.48TCr	7.19TCr
Other Receivables	445Cr	615.6Cr	694.5Cr	1.05TCr	1.55TCr
Total Receivables	3.22TCr	4.68TCr	5.75TCr	7.53TCr	8.74TCr
Inventory	1.85TCr	1.96TCr	2.44TCr	3.18TCr	4.08TCr
Other Current Assets, Total	233.2Cr	169Cr	272.7Cr	234.4Cr	632.6Cr
Total Current Assets	6.58TCr	8.56TCr	11TCr	14TCr	16TCr
Gross Property Plant And Equipment	8.67TCr	9.59TCr	11TCr	14TCr	21TCr
Accumulated Depreciation	-3.64TCr	-4.05TCr	-4.48TCr	-4.76TCr	-5.24TCr
Net Property Plant And Equipment	5.03TCr	5.54TCr	6.67TCr	9.1TCr	16TCr
Long-term Investments	164.8Cr	144.1Cr	134.3Cr	166.3Cr	267.7Cr
Goodwill	-	434.6Cr	509.2Cr	446.4Cr	2.01TCr
Other Intangibles, Total	2.07TCr	3.88TCr	4.63TCr	5.59TCr	9.1TCr
Deferred Tax Assets Long-Term	586.5Cr	867.2Cr	1.34TCr	2.04TCr	2.46TCr
Other Long-Term Assets, Total	67Cr	27Cr	21Cr	143Cr	401.6Cr
Total Assets	14TCr	19TCr	24TCr	31TCr	47TCr
Liabilities
Accounts Payable, Total	571.7Cr	887Cr	1.56TCr	2.56TCr	2.88TCr
Accrued Expenses, Total	3.38TCr	5.06TCr	6.92TCr	10TCr	12TCr
Short-term Borrowings	668.4Cr	1.29TCr	48Cr	46Cr	579.2Cr
Current Portion of Long-Term Debt	-	-	-	484.8Cr	598.3Cr
Current Portion of Leases	78Cr	82Cr	99Cr	117.4Cr	133.8Cr
Current Income Taxes Payable	391.3Cr	365.8Cr	709.1Cr	711.6Cr	971.6Cr
Other Current Liabilities	1.94TCr	2.27TCr	2.76TCr	3.04TCr	4.69TCr
Total Current Liabilities	7.03TCr	9.95TCr	12TCr	17TCr	22TCr
Long-Term Debt	-	965.4Cr	2.08TCr	1.6TCr	8.42TCr
Long-Term Leases	289.7Cr	330.7Cr	354.3Cr	455.2Cr	542.8Cr
Pension & Other Post Retirement Benefits	139.9Cr	128Cr	76Cr	74Cr	90Cr
Deferred Tax Liability Non Current	250.2Cr	527.1Cr	706.1Cr	1.02TCr	542.6Cr
Other Non Current Liabilities	452.6Cr	473.4Cr	469Cr	683.8Cr	877.8Cr
Total Liabilities	8.16TCr	12TCr	16TCr	21TCr	32TCr
Common Stock, Total	47Cr	46Cr	46Cr	45Cr	45Cr
Retained Earnings	6.38TCr	7.2TCr	8.06TCr	10TCr	14TCr
Treasury Stock	-80L	-60L	-60L	-50L	-20L
Comprehensive Income and Other	-91Cr	-171.4Cr	244.9Cr	127.6Cr	-140.6Cr
Total Common Equity	6.33TCr	7.07TCr	8.35TCr	11TCr	14TCr
Total Equity	6.33TCr	7.07TCr	8.35TCr	11TCr	14TCr
Total Liabilities And Equity	14TCr	19TCr	24TCr	31TCr	47TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	462.5Cr	455.78Cr	450.07Cr	445.83Cr	444.1Cr
ECS Total Common Shares Outstanding	462.5Cr	455.78Cr	450.07Cr	445.83Cr	444.1Cr
Book Value / Share	13.69	15.52	18.55	23.9	32.31
Tangible Book Value	4.27TCr	2.76TCr	3.21TCr	4.62TCr	3.24TCr
Tangible Book Value Per Share	9.23	6.05	7.13	10.35	7.29
Total Debt	1.04TCr	2.66TCr	2.58TCr	2.7TCr	10TCr
Net Debt	-240.1Cr	916Cr	221Cr	-322.4Cr	7.65TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	139.9Cr	-	-	-	-
Debt Equivalent Oper. Leases	249.6Cr	1.04TCr	1.19TCr	1.47TCr	-
Equity Method Investments, Total	58Cr	52Cr	33Cr	41Cr	40Cr
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	332.6Cr	431Cr	639.2Cr	950Cr	1.34TCr
Inventories - Work In Process, Total	1.23TCr	1.23TCr	1.37TCr	1.76TCr	2.23TCr
Inventories - Finished Goods, Total	511.1Cr	528.2Cr	603.8Cr	722.4Cr	887.3Cr
Land - (BS)	3.75TCr	4.11TCr	4.34TCr	4.9TCr	6.21TCr
Machinery, Total	3.84TCr	4.37TCr	4.57TCr	4.99TCr	7.34TCr
Full Time Employees	44.72T	47.79T	54.39T	63.37T	76.3T
Part Time Employees	600	686	792	949	1.05T
Accumulated Allowance for Doubtful Accounts (Supple)	138Cr	143Cr	152Cr	179.4Cr	212.7Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	4.21TCr	4.78TCr	5.55TCr	8.37TCr	10TCr
Depreciation & Amortization - CF	418Cr	424.5Cr	495.4Cr	545.5Cr	603.3Cr
Amortization of Goodwill and Intangible Assets - (CF)	109.6Cr	87Cr	140.4Cr	162.1Cr	225.7Cr
Depreciation & Amortization, Total	527.6Cr	511.1Cr	635.8Cr	707.6Cr	829Cr
Amortization of Deferred Charges, Total - (CF)	-	20Cr	20Cr	21Cr	26Cr
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	20Cr	-34Cr	12Cr	-	-507.9Cr
Asset Writedown & Restructuring Costs	48Cr	71Cr	81Cr	212.4Cr	1.06TCr
(Income) Loss On Equity Investments - (CF)	-15Cr	2.4Cr	19Cr	-	1.7Cr
Stock-Based Compensation (CF)	82Cr	104Cr	153.9Cr	-	228.9Cr
Other Operating Activities, Total	754.4Cr	915Cr	1.95TCr	2.81TCr	1.56TCr
Change In Accounts Receivable	-282.2Cr	-1.29TCr	-991.7Cr	-1.42TCr	-717.9Cr
Change In Inventories	-90Cr	-108.5Cr	-476.7Cr	-742.3Cr	-903.8Cr
Change In Accounts Payable	-64Cr	315.3Cr	671.7Cr	1TCr	324Cr
Change in Other Net Operating Assets	50L	218.5Cr	263.1Cr	-63Cr	98Cr
Cash from Operations	5.2TCr	5.5TCr	7.89TCr	11TCr	12TCr
Capital Expenditure	-582.5Cr	-633.5Cr	-1.21TCr	-2.58TCr	-4.72TCr
Sale of Property, Plant, and Equipment	70L	-	-	-	-
Cash Acquisitions	-	-1.83TCr	-707.5Cr	-	-8.22TCr
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-1.63TCr	-105Cr	-260.7Cr	-1.31TCr	-414.5Cr
Investment in Marketable and Equity Securities, Total	-38Cr	-594.1Cr	-309Cr	-499.6Cr	457.7Cr
Other Investing Activities, Total	1.8Cr	40L	-	-	-
Cash from Investing	-2.24TCr	-3.16TCr	-2.49TCr	-4.39TCr	-13TCr
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	568.2Cr	2.22TCr	1.12TCr	-	7.94TCr
Total Debt Issued	568.2Cr	2.22TCr	1.12TCr	-	7.94TCr
Long-Term Debt Repaid, Total	-95Cr	-668.9Cr	-1.36TCr	-146.7Cr	-633.5Cr
Total Debt Repaid	-95Cr	-668.9Cr	-1.36TCr	-146.7Cr	-633.5Cr
Repurchase of Common Stock	-1.69TCr	-1.94TCr	-2.41TCr	-2.99TCr	-2.02TCr
Common Dividends Paid	-2.01TCr	-2.15TCr	-2.53TCr	-3.18TCr	-4.41TCr
Common & Preferred Stock Dividends Paid	-2.01TCr	-2.15TCr	-2.53TCr	-3.18TCr	-4.41TCr
Cash from Financing	-3.22TCr	-2.55TCr	-5.18TCr	-6.32TCr	873.5Cr
Foreign Exchange Rate Adjustments	-46Cr	59Cr	-24Cr	-12Cr	46Cr
Miscellaneous Cash Flow Adjustments	-	-	-	-	-
Net Change in Cash	-318.5Cr	-150.7Cr	193.4Cr	173.9Cr	126.3Cr
Supplemental Items
Cash Interest Paid	42Cr	26Cr	27Cr	49Cr	61Cr
Cash Income Tax Paid (Refund)	1.01TCr	1.44TCr	1.45TCr	2.59TCr	2.96TCr
Levered Free Cash Flow	1.71TCr	4.38TCr	5.75TCr	5.41TCr	6.2TCr
Unlevered Free Cash Flow	1.73TCr	4.4TCr	5.77TCr	5.44TCr	6.3TCr
Change In Net Working Capital	77Cr	-796Cr	-1.71TCr	-1.89TCr	-1.61TCr
Net Debt Issued / Repaid	473.2Cr	1.55TCr	-240.8Cr	-146.7Cr	7.31TCr

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	25.17	21.85	21.69	23.39	22.41
Return on Total Capital	50.16	43.36	45.74	53.53	46.03
Return On Equity %	69.7	71.24	72	88.07	80.78
Return on Common Equity	69.7	71.24	72	88.07	80.78
Margin Analysis
Gross Profit Margin %	83.51	83.2	83.92	84.6	85
SG&A Margin	29.06	29.16	28.64	26.52	23.2
EBITDA Margin %	46.31	45.14	45.73	47.28	50.51
EBITA Margin %	43.78	42.76	43.53	45.47	48.94
EBIT Margin %	42.91	42.15	42.73	44.77	48.17
Income From Continuing Operations Margin %	33.19	33.92	31.38	36.03	34.78
Net Income Margin %	33.19	33.92	31.38	36.03	34.78
Net Avail. For Common Margin %	33.19	33.92	31.38	36.03	34.78
Normalized Net Income Margin	26.43	26.4	24.89	28.54	29.86
Levered Free Cash Flow Margin	13.44	31.13	32.49	23.29	21.35
Unlevered Free Cash Flow Margin	13.63	31.26	32.63	23.44	21.7
Asset Turnover
Asset Turnover	0.94	0.83	0.81	0.84	0.74
Fixed Assets Turnover	2.52	2.67	2.9	2.95	2.29
Receivables Turnover (Average Receivables)	4.82	4.12	3.88	4.03	4.25
Inventory Turnover (Average Inventory)	1.16	1.24	1.29	1.27	1.2
Short Term Liquidity
Current Ratio	0.94	0.86	0.89	0.82	0.74
Quick Ratio	0.64	0.65	0.67	0.62	0.52
Operating Cash Flow to Current Liabilities	0.74	0.55	0.65	0.64	0.56
Days Sales Outstanding (Average Receivables)	75.89	88.63	94.06	90.62	86.15
Days Outstanding Inventory (Average Inventory)	316.28	294.35	282.33	286.77	305.25
Average Days Payable Outstanding	101.24	107.59	134.38	174.07	189.45
Cash Conversion Cycle (Average Days)	290.93	275.38	242.01	203.32	201.96
Long Term Solvency
Total Debt/Equity	16.35	37.66	30.88	25.34	71.64
Total Debt / Total Capital	14.06	27.36	23.6	20.22	41.74
LT Debt/Equity	4.57	18.32	29.13	19.26	62.5
Long-Term Debt / Total Capital	3.93	13.31	22.25	15.37	36.41
Total Liabilities / Total Assets	56.3	63.63	65.4	66.12	69.2
EBIT / Interest Expense	139.68	205.33	200.05	191.86	85.29
EBITDA / Interest Expense	153.21	223.02	216.87	204.92	90.35
(EBITDA - Capex) / Interest Expense	138.27	201.1	184.74	157.3	61.59
Total Debt / EBITDA	0.17	0.41	0.31	0.24	0.69
Net Debt / EBITDA	-0.04	0.14	0.03	-0.03	0.52
Total Debt / (EBITDA - Capex)	0.19	0.46	0.37	0.32	1.02
Net Debt / (EBITDA - Capex)	-0.04	0.16	0.03	-0.04	0.76
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	4.04	10.91	25.68	31.26	25.03
Gross Profit, 1 Yr. Growth %	3.47	10.5	26.77	32.32	25.34
EBITDA, 1 Yr. Growth %	3.01	8.49	27.34	35.78	32.7
EBITA, 1 Yr. Growth %	3.01	8.75	27.93	37.2	33.69
EBIT, 1 Yr. Growth %	1.9	8.93	27.43	37.61	33.6
Earnings From Cont. Operations, 1 Yr. Growth %	8.18	13.33	16.27	50.71	20.68
Net Income, 1 Yr. Growth %	8.18	13.33	16.27	50.71	20.68
Normalized Net Income, 1 Yr. Growth %	8.05	10.82	18.46	50.62	29.96
Diluted EPS Before Extra, 1 Yr. Growth %	9.95	15.16	17.84	52.37	21.54
Accounts Receivable, 1 Yr. Growth %	11.33	46.55	24.4	28.11	11.08
Inventory, 1 Yr. Growth %	5.07	5.85	24.3	30.44	28.41
Net Property, Plant and Equip., 1 Yr. Growth %	-0.56	10.13	20.43	36.43	78.63
Total Assets, 1 Yr. Growth %	15.37	34.22	24.03	30.35	48.11
Tangible Book Value, 1 Yr. Growth %	-17.56	-35.37	16.3	41.81	-29.81
Common Equity, 1 Yr. Growth %	9.95	11.72	18.01	27.64	34.65
Cash From Operations, 1 Yr. Growth %	11.05	5.87	43.43	38.06	11.07
Capital Expenditures, 1 Yr. Growth %	-34.79	8.76	91.73	112.46	82.76
Levered Free Cash Flow, 1 Yr. Growth %	-37.24	157	31.17	-5.85	13.64
Unlevered Free Cash Flow, 1 Yr. Growth %	-36.66	154.42	31.17	-5.65	14.81
Dividend Per Share, 1 Yr. Growth %	8.98	14.29	19.23	51.61	21.28
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	6.54	7.42	18.06	28.44	28.11
Gross Profit, 2 Yr. CAGR %	6.08	7.2	18.36	29.52	28.91
EBITDA, 2 Yr. CAGR %	7.18	6.24	17.55	31.23	34.46
EBITA, 2 Yr. CAGR %	8.45	6.61	18.1	32.36	35.67
EBIT, 2 Yr. CAGR %	7.38	6.33	18.2	32.52	36.01
Earnings From Cont. Operations, 2 Yr. CAGR %	4.44	10.73	14.79	32.37	34.86
Net Income, 2 Yr. CAGR %	4.44	10.73	14.79	32.37	34.86
Normalized Net Income, 2 Yr. CAGR %	6.36	10.52	14.95	33.67	40.33
Diluted EPS Before Extra, 2 Yr. CAGR %	6.33	12.52	16.49	34	36.08
Accounts Receivable, 2 Yr. CAGR %	10.32	27.73	35.02	26.24	19.29
Inventory, 2 Yr. CAGR %	6.52	5.46	14.7	27.33	29.42
Net Property, Plant and Equip., 2 Yr. CAGR %	9.54	4.65	15.16	28.18	56.11
Total Assets, 2 Yr. CAGR %	14.38	24.44	29.02	27.15	38.95
Tangible Book Value, 2 Yr. CAGR %	-4.41	-27.01	-13.3	29.38	-0.23
Common Equity, 2 Yr. CAGR %	10.52	10.83	14.82	22.73	31.1
Cash From Operations, 2 Yr. CAGR %	7.91	8.43	23.23	40.72	23.83
Capital Expenditures, 2 Yr. CAGR %	-22.25	-15.78	44.4	101.83	97.06
Levered Free Cash Flow, 2 Yr. CAGR %	-21.24	27.93	84.1	11.02	3.83
Unlevered Free Cash Flow, 2 Yr. CAGR %	-20.75	27.86	83.17	11.14	4.47
Dividend Per Share, 2 Yr. CAGR %	5.67	11.6	16.73	34.45	35.6
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	4.36	7.98	13.19	22.31	27.29
Gross Profit, 3 Yr. CAGR %	4.07	7.53	13.36	22.84	28.2
EBITDA, 3 Yr. CAGR %	4.08	7.49	12.85	23.31	32
EBITA, 3 Yr. CAGR %	4.31	8.41	13.29	24.13	33.1
EBIT, 3 Yr. CAGR %	3.62	7.89	12.95	24.32	33.18
Earnings From Cont. Operations, 3 Yr. CAGR %	3.39	7.33	12.54	25.7	28.35
Net Income, 3 Yr. CAGR %	3.39	7.33	12.54	25.7	28.35
Normalized Net Income, 3 Yr. CAGR %	3.29	7.82	13.1	25.76	32.71
Diluted EPS Before Extra, 3 Yr. CAGR %	5.38	9.19	14.27	27.4	29.71
Accounts Receivable, 3 Yr. CAGR %	11.21	21.28	26.61	32.67	20.97
Inventory, 3 Yr. CAGR %	6.44	6.3	11.4	19.73	27.69
Net Property, Plant and Equip., 3 Yr. CAGR %	12.56	9.74	9.67	21.86	43.18
Total Assets, 3 Yr. CAGR %	12.29	20.64	24.3	29.47	33.79
Tangible Book Value, 3 Yr. CAGR %	-2.82	-16.1	-14.75	2.65	5.52
Common Equity, 3 Yr. CAGR %	8.33	10.92	13.17	18.94	26.58
Cash From Operations, 3 Yr. CAGR %	8.06	7.22	19.03	27.98	30.05
Capital Expenditures, 3 Yr. CAGR %	-8.59	-13.05	10.79	64.24	95.26
Levered Free Cash Flow, 3 Yr. CAGR %	-7.24	16.82	29	47.2	12.19
Unlevered Free Cash Flow, 3 Yr. CAGR %	-6.88	16.91	28.96	46.8	12.65
Dividend Per Share, 3 Yr. CAGR %	5.05	8.47	14.09	27.36	29.91
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.3	4.72	9.64	15.74	18.94
Gross Profit, 5 Yr. CAGR %	2.93	4.37	9.56	15.84	19.35
EBITDA, 5 Yr. CAGR %	3.47	4.24	9.19	16.5	21.1
EBITA, 5 Yr. CAGR %	3.58	4.27	9.48	17.45	21.82
EBIT, 5 Yr. CAGR %	3.16	4.15	9.08	17.09	21.66
Earnings From Cont. Operations, 5 Yr. CAGR %	3.86	4.72	7.81	16.72	20.99
Net Income, 5 Yr. CAGR %	3.86	4.72	7.81	16.72	20.99
Normalized Net Income, 5 Yr. CAGR %	5.72	4.48	7.66	17.45	23.29
Diluted EPS Before Extra, 5 Yr. CAGR %	5.9	6.75	9.69	18.51	22.54
Accounts Receivable, 5 Yr. CAGR %	12.36	14.97	20.18	23.24	23.63
Inventory, 5 Yr. CAGR %	7.76	6.47	9.67	14.26	18.29
Net Property, Plant and Equip., 5 Yr. CAGR %	14.5	12.9	13.6	16.77	26.3
Total Assets, 5 Yr. CAGR %	9.56	14.8	18.71	23.21	29.97
Tangible Book Value, 5 Yr. CAGR %	-0.98	-8.31	-7.16	-0.23	-8.95
Common Equity, 5 Yr. CAGR %	6.16	9.34	10.88	15.5	20.03
Cash From Operations, 5 Yr. CAGR %	6.29	2.63	13.89	19.54	20.93
Capital Expenditures, 5 Yr. CAGR %	2.2	-2.17	9.76	21.78	39.49
Levered Free Cash Flow, 5 Yr. CAGR %	-9.84	8.96	21.89	14.5	18.27
Unlevered Free Cash Flow, 5 Yr. CAGR %	-9.61	9.02	21.93	14.6	18.54
Dividend Per Share, 5 Yr. CAGR %	7.29	6.47	9.57	18.2	22.25