Cash flow The Descartes Systems Group Inc.

Equities

DSG

CA2499061083

Software

Market Closed - Toronto S.E. Other stock markets 02:30:00 11/02/2026 am IST			5-day change	1st Jan Change
94.09 ^CAD	+2.90%		-5.33%	-21.86%

09/02	Descartes Brief: Says Showcasing Its Latest Technology Innovations Focused On AI and Advanced Automation at Manifest 2026 From Feb. 9-11 in Las Vegas	MT
09/02	Descartes Systems Group Announces Latest Technology Innovations Focused on Artificial Intelligence (Ai) and Advanced Automation	CI

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Published financial data: THE DESCARTES SYSTEMS GROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2021	2022	2023	2024	2025
Revenues	35Cr	42Cr	49Cr	57Cr	65Cr
Total Revenues	35Cr	42Cr	49Cr	57Cr	65Cr
Cost of Goods Sold, Total	8.99Cr	10Cr	11Cr	14Cr	16Cr
Gross Profit	26Cr	32Cr	37Cr	43Cr	49Cr
Selling General & Admin Expenses, Total	7.51Cr	9.13Cr	11Cr	13Cr	14Cr
R&D Expenses	5.41Cr	6.26Cr	7.04Cr	8.41Cr	9.55Cr
Amortization of Goodwill and Intangible Assets - (IS)	5.59Cr	5.91Cr	6.02Cr	6.05Cr	6.94Cr
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	19Cr	21Cr	24Cr	27Cr	30Cr
Operating Income	7.37Cr	11Cr	14Cr	16Cr	19Cr
Interest Expense, Total	-11.86L	-11.23L	-11.67L	-13.63L	-10.04L
Interest And Investment Income	2L	3L	44.61L	96.66L	1.15Cr
Net Interest Expenses	-10.27L	-8L	32.94L	83.03L	1.05Cr
EBT, Excl. Unusual Items	7.27Cr	11Cr	14Cr	17Cr	20Cr
Restructuring Charges	-23L	-66T	-77T	-16.18L	-10L
Merger & Related Restructuring Charges	-19.81L	-19.04L	-25.6L	-36.97L	-58.03L
Other Unusual Items	19.46L	-44.58L	-28.04L	-1.63Cr	-7L
EBT, Incl. Unusual Items	7.04Cr	10Cr	13Cr	15Cr	19Cr
Income Tax Expense	1.83Cr	1.63Cr	3.15Cr	3.52Cr	4.84Cr
Earnings From Continuing Operations	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Net Income to Company	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Net Income - (IS)	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Net Income to Common Incl Extra Items	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Net Income to Common Excl. Extra Items	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Per Share Items
Net EPS - Basic	0.62	1.02	1.21	1.36	1.68
Basic EPS - Continuing Operations	0.62	1.02	1.21	1.36	1.68
Basic Weighted Average Shares Outstanding	8.44Cr	8.46Cr	8.48Cr	8.51Cr	8.54Cr
Net EPS - Diluted	0.61	1	1.18	1.34	1.64
Diluted EPS - Continuing Operations	0.61	1	1.18	1.34	1.64
Diluted Weighted Average Shares Outstanding	8.58Cr	8.62Cr	8.65Cr	8.68Cr	8.73Cr
Normalized Basic EPS	0.54	0.81	1.03	1.27	1.46
Normalized Diluted EPS	0.53	0.79	1.01	1.24	1.43
Supplemental Items
EBITDA	14Cr	17Cr	20Cr	23Cr	26Cr
EBITA	13Cr	17Cr	20Cr	22Cr	26Cr
EBIT	7.37Cr	11Cr	14Cr	16Cr	19Cr
EBITDAR	14Cr	18Cr	21Cr	24Cr	27Cr
Effective Tax Rate - (Ratio)	25.96	15.91	23.55	23.32	25.24
Current Domestic Taxes	18.75L	18.17L	96.73L	1.64Cr	2.23Cr
Current Foreign Taxes	18.71L	1.3Cr	1.86Cr	2.48Cr	3.11Cr
Total Current Taxes	37.46L	1.48Cr	2.82Cr	4.12Cr	5.34Cr
Deferred Domestic Taxes	70.47L	83.81L	50.59L	-23.69L	-38.75L
Deferred Foreign Taxes	74.76L	-68.67L	-18.15L	-36.09L	-11.67L
Total Deferred Taxes	1.45Cr	15.14L	32.44L	-59.78L	-50.42L
Normalized Net Income	4.54Cr	6.81Cr	8.7Cr	11Cr	12Cr
Interest on Long-Term Debt	11.86L	11.23L	11.67L	13.63L	10.04L
Supplemental Operating Expense Items
Selling and Marketing Expenses	3.88Cr	4.69Cr	5.66Cr	6.82Cr	7.37Cr
General and Administrative Expenses	3.63Cr	4.45Cr	4.97Cr	5.74Cr	6.52Cr
Research And Development Expense From Footnotes	5.41Cr	6.26Cr	7.04Cr	8.41Cr	9.55Cr
Net Rental Expense, Total	50.92L	48.98L	48.18L	47.66L	41.64L
Imputed Operating Lease Interest Expense	36.51L	35.96L	48.03L	72.69L	44.97L
Imputed Operating Lease Depreciation	14.41L	13.02L	15.19T	-25.03L	-3L
Stock-Based Comp., COGS (Total)	3L	7L	9L	11.28L	14.07L
Stock-Based Comp., R&D Exp. (Total)	4L	14.19L	17.88L	21.38L	27.44L
Stock-Based Comp., S&M Exp. (Total)	9L	30.6L	24.68L	51.97L	64.4L
Stock-Based Comp., G&A Exp. (Total)	46.94L	58.06L	84.71L	80.17L	93.71L
Stock-Based Comp., Other (Total)	-	-	-	-	-
Total Stock-Based Compensation	63.13L	1.1Cr	1.37Cr	1.65Cr	2Cr

Fiscal Period: January	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	13Cr	21Cr	28Cr	32Cr	24Cr
Short Term Investments	-	-	-	-	-
Total Cash And Short Term Investments	13Cr	21Cr	28Cr	32Cr	24Cr
Accounts Receivable, Total	3.72Cr	4.17Cr	4.52Cr	5.16Cr	5.4Cr
Other Receivables	1.46Cr	1.38Cr	1.13Cr	1.22Cr	1.69Cr
Total Receivables	5.18Cr	5.55Cr	5.64Cr	6.38Cr	7.09Cr
Inventory	4L	9L	8L	-	7L
Prepaid Expenses	89.38L	1.11Cr	1.31Cr	1.73Cr	1.85Cr
Other Current Assets, Total	82.38L	1.12Cr	1.2Cr	1.62Cr	2.64Cr
Total Current Assets	20Cr	29Cr	36Cr	42Cr	35Cr
Gross Property Plant And Equipment	5.46Cr	5.6Cr	5.6Cr	6.04Cr	5.13Cr
Accumulated Depreciation	-3.03Cr	-3.47Cr	-3.78Cr	-4.26Cr	-3.12Cr
Net Property Plant And Equipment	2.43Cr	2.14Cr	1.82Cr	1.78Cr	2.01Cr
Goodwill	57Cr	61Cr	68Cr	76Cr	92Cr
Other Intangibles, Total	24Cr	23Cr	23Cr	25Cr	32Cr
Deferred Tax Assets Long-Term	1.52Cr	1.5Cr	1.15Cr	20.97L	38.02L
Deferred Charges Long-Term	1.29Cr	1.66Cr	1.84Cr	1.86Cr	1.9Cr
Other Long-Term Assets, Total	26.5L	20.52L	38.47L	61.37L	58.87L
Total Assets	106.33Cr	118.54Cr	131.6Cr	147.43Cr	164.74Cr
Liabilities
Accounts Payable, Total	79.55L	1.06Cr	1.06Cr	1.75Cr	2.06Cr
Accrued Expenses, Total	3.89Cr	5.64Cr	8.03Cr	9.18Cr	7.1Cr
Current Portion of Leases	41.68L	40.29L	33.97L	30.75L	31.78L
Current Income Taxes Payable	33.83L	56.16L	75.36L	67.34L	93.13L
Unearned Revenue Current, Total	4.99Cr	5.68Cr	6.78Cr	8.45Cr	10Cr
Other Current Liabilities	-	-	-	-	86.74L
Total Current Liabilities	10Cr	13Cr	17Cr	20Cr	22Cr
Long-Term Debt	-	-	-	-	-
Long-Term Leases	88.95L	73.82L	39.23L	39.03L	47.18L
Unearned Revenue Non Current	14.13L	19.2L	16.15L	14.64L	10L
Deferred Tax Liability Non Current	2.94Cr	3.55Cr	3.54Cr	2.11Cr	3.41Cr
Other Non Current Liabilities	82.3L	73.54L	61.2L	61.53L	55.31L
Total Liabilities	15Cr	19Cr	22Cr	24Cr	26Cr
Common Stock, Total	53Cr	54Cr	54Cr	55Cr	57Cr
Additional Paid In Capital	46Cr	47Cr	49Cr	49Cr	50Cr
Retained Earnings	-8.37Cr	26.12L	10Cr	22Cr	36Cr
Comprehensive Income and Other	-11.89L	-1.24Cr	-3.05Cr	-2.86Cr	-5.05Cr
Total Common Equity	91Cr	100Cr	109.94Cr	123.8Cr	138.5Cr
Total Equity	91Cr	100Cr	109.94Cr	123.8Cr	138.5Cr
Total Liabilities And Equity	106.33Cr	118.54Cr	131.6Cr	147.43Cr	164.74Cr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8.45Cr	8.48Cr	8.48Cr	8.52Cr	8.56Cr
ECS Total Common Shares Outstanding	8.45Cr	8.48Cr	8.48Cr	8.52Cr	8.56Cr
Book Value / Share	10.78	11.8	12.96	14.53	16.18
Tangible Book Value	11Cr	16Cr	19Cr	23Cr	14Cr
Tangible Book Value Per Share	1.25	1.9	2.29	2.66	1.62
Total Debt	1.31Cr	1.14Cr	73.2L	69.78L	78.96L
Net Debt	-12Cr	-20Cr	-27Cr	-31Cr	-23Cr
Debt Equivalent Oper. Leases	4.07Cr	3.92Cr	3.85Cr	3.81Cr	3.33Cr
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Finished Goods, Total	4L	9L	8L	-	-
Machinery, Total	4.06Cr	4.41Cr	4.78Cr	5.27Cr	4.29Cr
Full Time Employees	-	-	-	2.08T	-
Part Time Employees	-	-	-	96	-
Accumulated Allowance for Doubtful Accounts (Supple)	23.3L	18.6L	15.45L	7L	7L

Fiscal Period: January	2021	2022	2023	2024	2025
Net Income	5.21Cr	8.63Cr	10Cr	12Cr	14Cr
Depreciation & Amortization - CF	57.57L	51.29L	52.25L	54.74L	55.89L
Amortization of Goodwill and Intangible Assets - (CF)	5.59Cr	5.91Cr	6.02Cr	6.05Cr	6.94Cr
Depreciation & Amortization, Total	6.17Cr	6.42Cr	6.54Cr	6.6Cr	7.5Cr
Stock-Based Compensation (CF)	63.13L	1.1Cr	1.37Cr	1.65Cr	2Cr
Other Operating Activities, Total	1.47Cr	18.22L	32.97L	-58.64L	-50.19L
Change In Accounts Receivable	1L	-28.84L	2L	-65.66L	32.99L
Change In Inventories	99T	-5L	1L	-	-
Change In Accounts Payable	-7L	23.36L	-6L	61.8L	18.68L
Change in Unearned Revenues	58.77L	61.42L	81.42L	1.51Cr	58.25L
Change In Income Taxes	38.35L	4L	8L	-4L	10L
Change in Other Net Operating Assets	-1.28Cr	72.67L	-7L	9L	-2.59Cr
Cash from Operations	13Cr	18Cr	19Cr	21Cr	22Cr
Capital Expenditure	-37.59L	-48.29L	-60.71L	-55.63L	-67.43L
Cash Acquisitions	-4.84Cr	-9.03Cr	-12Cr	-14Cr	-29Cr
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Cash from Investing	-5.22Cr	-9.51Cr	-12Cr	-15Cr	-30Cr
Long-Term Debt Issued, Total	1.02Cr	-	-	-	-
Total Debt Issued	1.02Cr	-	-	-	-
Long-Term Debt Repaid, Total	-1.08Cr	-10.68L	-	-	-
Total Debt Repaid	-1.08Cr	-10.68L	-	-	-
Issuance of Common Stock	61.94L	26.56L	17.3L	92.72L	1.24Cr
Repurchase of Common Stock	-	-	-	-48.86L	-67.45L
Other Financing Activities, Total	-40T	-72T	-63.33L	-1.91Cr	-92.76L
Cash from Financing	55.57L	15.16L	-46.03L	-1.47Cr	-36.3L
Foreign Exchange Rate Adjustments	46.33L	-27.71L	-32.12L	-1L	-35.09L
Net Change in Cash	8.93Cr	7.98Cr	6.29Cr	4.46Cr	-8.48Cr
Supplemental Items
Cash Interest Paid	89T	-	-	-	-
Cash Income Tax Paid (Refund)	82.14L	1.26Cr	2.38Cr	4.49Cr	5.34Cr
Levered Free Cash Flow	11Cr	16Cr	19Cr	20Cr	20Cr
Unlevered Free Cash Flow	11Cr	16Cr	19Cr	20Cr	20Cr
Change In Net Working Capital	-14.83L	-2.01Cr	-3.32Cr	-1.94Cr	59.04L
Net Debt Issued / Repaid	-6L	-10.68L	-	-	-

Fiscal Period: January	2021	2022	2023	2024	2025
Profitability
Return on Assets	4.59	6.11	6.79	7.37	7.55
Return on Total Capital	5.24	7.1	8.02	8.74	8.94
Return On Equity %	6.01	9.03	9.74	9.92	10.92
Return on Common Equity	6.01	9.03	9.74	9.92	10.92
Margin Analysis
Gross Profit Margin %	74.21	76.03	76.68	75.86	75.64
SG&A Margin	21.53	21.51	21.87	21.91	21.34
EBITDA Margin %	38.83	40.99	41.41	40.23	40.49
EBITA Margin %	37.18	39.78	40.34	39.27	39.63
EBIT Margin %	21.15	25.87	27.96	28.71	28.97
Income From Continuing Operations Margin %	14.94	20.32	21.04	20.23	22.01
Net Income Margin %	14.94	20.32	21.04	20.23	22.01
Net Avail. For Common Margin %	14.94	20.32	21.04	20.23	22.01
Normalized Net Income Margin	13.03	16.05	17.9	18.85	19.11
Levered Free Cash Flow Margin	31.85	37.31	39.16	34.6	30.65
Unlevered Free Cash Flow Margin	32.06	37.48	39.31	34.75	30.75
Asset Turnover
Asset Turnover	0.35	0.38	0.39	0.41	0.42
Fixed Assets Turnover	13.71	18.61	24.55	31.81	34.34
Receivables Turnover (Average Receivables)	9.64	10.76	11.19	11.84	12.34
Inventory Turnover (Average Inventory)	214.07	156.99	139.31	-	296.96
Short Term Liquidity
Current Ratio	1.95	2.19	2.11	2.05	1.62
Quick Ratio	1.78	2.02	1.96	1.89	1.41
Operating Cash Flow to Current Liabilities	1.26	1.32	1.13	1.02	1.01
Days Sales Outstanding (Average Receivables)	37.96	33.91	32.62	30.82	29.66
Days Outstanding Inventory (Average Inventory)	1.71	2.32	2.62	-	1.23
Average Days Payable Outstanding	31.79	33.06	34.07	37.02	43.91
Cash Conversion Cycle (Average Days)	7.88	3.18	1.17	-	-13.01
Long Term Solvency
Total Debt/Equity	1.43	1.14	0.67	0.56	0.57
Total Debt / Total Capital	1.41	1.13	0.66	0.56	0.57
LT Debt/Equity	0.98	0.74	0.36	0.32	0.34
Long-Term Debt / Total Capital	0.96	0.73	0.35	0.31	0.34
Total Liabilities / Total Assets	14.31	15.66	16.46	16.02	15.93
EBIT / Interest Expense	62.17	97.83	116.43	120.69	187.84
EBITDA / Interest Expense	118.45	159.38	176.6	172.59	266.68
(EBITDA - Capex) / Interest Expense	115.28	155.08	171.4	168.51	259.96
Total Debt / EBITDA	0.09	0.06	0.04	0.03	0.03
Net Debt / EBITDA	-0.86	-1.13	-1.31	-1.33	-0.85
Total Debt / (EBITDA - Capex)	0.1	0.07	0.04	0.03	0.03
Net Debt / (EBITDA - Capex)	-0.88	-1.16	-1.35	-1.37	-0.87
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.02	21.8	14.44	17.88	13.63
Gross Profit, 1 Yr. Growth %	7.78	24.78	15.43	16.62	13.3
EBITDA, 1 Yr. Growth %	15.15	28.58	15.62	14.51	14.36
EBITA, 1 Yr. Growth %	16.22	30.33	16.03	14.76	14.66
EBIT, 1 Yr. Growth %	31.53	49	23.68	21.07	14.65
Earnings From Cont. Operations, 1 Yr. Growth %	40.82	65.61	18.49	13.37	23.61
Net Income, 1 Yr. Growth %	40.82	65.61	18.49	13.37	23.61
Normalized Net Income, 1 Yr. Growth %	40.27	49.98	27.63	24.17	15.22
Diluted EPS Before Extra, 1 Yr. Growth %	35.56	63.93	18	13.56	22.39
Accounts Receivable, 1 Yr. Growth %	5.95	12.09	8.32	14.16	4.62
Inventory, 1 Yr. Growth %	4.38	102.33	-12.56	-	102.55
Net Property, Plant and Equip., 1 Yr. Growth %	-8.85	-11.82	-14.87	-2.19	12.89
Total Assets, 1 Yr. Growth %	12.8	11.49	11.02	12.02	11.74
Tangible Book Value, 1 Yr. Growth %	157.89	52.46	20.12	16.83	-38.66
Common Equity, 1 Yr. Growth %	10.87	9.74	9.96	12.61	11.87
Cash From Operations, 1 Yr. Growth %	25.88	34.22	9.23	7.94	5.58
Capital Expenditures, 1 Yr. Growth %	-23.29	28.46	25.72	-8.37	21.21
Levered Free Cash Flow, 1 Yr. Growth %	12.57	42.71	20.11	4.15	0.66
Unlevered Free Cash Flow, 1 Yr. Growth %	10.24	42.4	20.04	4.2	0.54
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.56	14.17	18.06	16.15	15.74
Gross Profit, 2 Yr. CAGR %	13.69	15.97	20.01	16.02	14.95
EBITDA, 2 Yr. CAGR %	22.68	21.68	21.93	15.06	14.43
EBITA, 2 Yr. CAGR %	23.19	23.08	22.98	15.4	14.71
EBIT, 2 Yr. CAGR %	27.66	40	35.75	22.36	17.81
Earnings From Cont. Operations, 2 Yr. CAGR %	29.06	52.71	40.08	15.9	18.38
Net Income, 2 Yr. CAGR %	29.06	52.71	40.08	15.9	18.38
Normalized Net Income, 2 Yr. CAGR %	29.57	45.04	38.35	25.89	19.61
Diluted EPS Before Extra, 2 Yr. CAGR %	23.49	49.07	39.08	15.76	17.89
Accounts Receivable, 2 Yr. CAGR %	8.69	8.98	10.19	11.2	9.29
Inventory, 2 Yr. CAGR %	112.5	45.32	33.01	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	38.68	-10.34	-13.36	-8.75	5.08
Total Assets, 2 Yr. CAGR %	27.57	12.14	11.25	11.52	11.88
Tangible Book Value, 2 Yr. CAGR %	125.3	98.29	35.33	18.46	-15.35
Common Equity, 2 Yr. CAGR %	30.68	10.31	9.85	11.28	12.24
Cash From Operations, 2 Yr. CAGR %	29.65	29.98	21.08	8.59	6.76
Capital Expenditures, 2 Yr. CAGR %	-15.33	-0.73	27.08	7.33	5.39
Levered Free Cash Flow, 2 Yr. CAGR %	28.24	26.75	30.93	11.85	2.39
Unlevered Free Cash Flow, 2 Yr. CAGR %	27.42	25.29	30.74	11.84	2.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	13.66	15.56	14.26	18	15.3
Gross Profit, 3 Yr. CAGR %	14.2	17.28	15.79	18.87	15.11
EBITDA, 3 Yr. CAGR %	20.46	24.61	19.63	19.4	14.83
EBITA, 3 Yr. CAGR %	20.9	25.53	20.68	20.18	15.15
EBIT, 3 Yr. CAGR %	22.74	34.41	34.33	30.67	19.74
Earnings From Cont. Operations, 3 Yr. CAGR %	24.68	40.25	40.33	30.54	18.42
Net Income, 3 Yr. CAGR %	24.68	40.25	40.33	30.54	18.42
Normalized Net Income, 3 Yr. CAGR %	23.35	36.04	38.99	33.45	22.23
Diluted EPS Before Extra, 3 Yr. CAGR %	20.34	35.72	37.9	29.99	17.93
Accounts Receivable, 3 Yr. CAGR %	8.92	9.81	8.76	11.5	8.96
Inventory, 3 Yr. CAGR %	51.65	109.06	22.69	-	-6.26
Net Property, Plant and Equip., 3 Yr. CAGR %	23.75	19.25	-11.88	-9.78	-2.04
Total Assets, 3 Yr. CAGR %	19.38	21.97	11.77	11.51	11.59
Tangible Book Value, 3 Yr. CAGR %	53.4	97.8	67.78	28.86	-4.87
Common Equity, 3 Yr. CAGR %	22.24	23.29	10.19	10.76	11.47
Cash From Operations, 3 Yr. CAGR %	22.07	31.15	22.66	16.53	7.57
Capital Expenditures, 3 Yr. CAGR %	-9.59	-2.71	7.4	13.96	11.77
Levered Free Cash Flow, 3 Yr. CAGR %	17.48	32.89	24.5	21.31	7.99
Unlevered Free Cash Flow, 3 Yr. CAGR %	17.28	32.23	23.52	21.22	7.94
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	13.51	15.82	15.4	15.8	14.85
Gross Profit, 5 Yr. CAGR %	14.56	16.93	16.49	16.77	15.45
EBITDA, 5 Yr. CAGR %	18	20.76	21.05	20.7	17.52
EBITA, 5 Yr. CAGR %	18.36	21.37	21.73	21.37	18.26
EBIT, 5 Yr. CAGR %	20.03	26.32	27.79	29.46	27.46
Earnings From Cont. Operations, 5 Yr. CAGR %	20.44	29.34	30.63	29.95	31.1
Net Income, 5 Yr. CAGR %	20.44	29.34	30.63	29.95	31.1
Normalized Net Income, 5 Yr. CAGR %	19.96	25.55	29.14	31.89	30.89
Diluted EPS Before Extra, 5 Yr. CAGR %	17.7	26.39	27.52	27.35	29.52
Accounts Receivable, 5 Yr. CAGR %	7.75	10.42	9.43	10.37	8.97
Inventory, 5 Yr. CAGR %	22.58	39.05	43.9	-	11.71
Net Property, Plant and Equip., 5 Yr. CAGR %	23.03	15.41	7.31	7.14	-5.45
Total Assets, 5 Yr. CAGR %	18.62	18.82	16.06	17.68	11.81
Tangible Book Value, 5 Yr. CAGR %	15.74	48.93	45.9	61.13	27.61
Common Equity, 5 Yr. CAGR %	17.78	18.35	17.12	18.34	11.01
Cash From Operations, 5 Yr. CAGR %	19.33	19.4	21.67	21.61	16.03
Capital Expenditures, 5 Yr. CAGR %	-2.69	-0.35	3.6	1.19	6.59
Levered Free Cash Flow, 5 Yr. CAGR %	16.34	19.68	22.68	24.04	15.13
Unlevered Free Cash Flow, 5 Yr. CAGR %	16.35	19.65	22.49	23.66	14.57