Cash flow Waaree Energies Limited

Equities

WAAREEENER

INE377N01017

Renewable Energy Equipment & Services

Market Closed - NSE India S.E. Other stock markets 05:28:40 06/03/2026 pm IST			5-day change	1st Jan Change
2,628.30 ^INR	-0.68%		-2.99%	-11.45%

25/02	Waaree Energies exec says do not anticipate material adverse impact on ability to service U.S. Order Book	RE
25/02	Waaree Energies Arm Wins 300MW Wind Project; Shares Plummet 10%	MT

60.YVEqCGoDcJc1ifXmxNmfDnivyICcLecDSwF2xOK3u0Y.VgZdOTlpRtpxwIzRnrP5Yyjcrfb_SdBTADYRgI_x3HUVJWM4G2ohxgbIpA

Published financial data: WAAREE ENERGIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	1.95TCr	2.85TCr	6.75TCr	11TCr	14TCr
Total Revenues	1.95TCr	2.85TCr	6.75TCr	11TCr	14TCr
Cost of Goods Sold, Total	1.67TCr	2.39TCr	5.32TCr	9.02TCr	11TCr
Gross Profit	286.85Cr	459.36Cr	1.43TCr	2.38TCr	3.92TCr
Selling General & Admin Expenses, Total	201.94Cr	353.42Cr	598.55Cr	805.25Cr	1.2TCr
Depreciation & Amortization - (IS)	29Cr	43Cr	164.13Cr	276.81Cr	402.45Cr
Other Operating Expenses	-3.82Cr	-3.21Cr	-3.02Cr	-1Cr	-1L
Other Operating Expenses, Total	226.67Cr	393.48Cr	759.66Cr	1.08TCr	1.6TCr
Operating Income	60Cr	66Cr	673.55Cr	1.3TCr	2.32TCr
Interest Expense, Total	-24Cr	-36Cr	-69Cr	-124.01Cr	-89Cr
Interest And Investment Income	18Cr	9.34Cr	51Cr	150.58Cr	366.32Cr
Net Interest Expenses	-6.53Cr	-27Cr	-19Cr	27Cr	277.41Cr
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	16Cr	26Cr	48Cr	49Cr	4.74Cr
Other Non Operating Income (Expenses)	-3.93Cr	42Cr	-12Cr	-13Cr	-49Cr
EBT, Excl. Unusual Items	66Cr	107.32Cr	690.64Cr	1.36TCr	2.55TCr
Gain (Loss) On Sale Of Investments	37.1L	64.1L	7.08Cr	32Cr	17Cr
Gain (Loss) On Sale Of Assets	1.25Cr	10Cr	-	-	-
Asset Writedown	-5L	-	-	-2.48Cr	-
Insurance Settlements	-	-	3L	-	-
Other Unusual Items	4.06Cr	-	-21Cr	341.34Cr	-4.02Cr
EBT, Incl. Unusual Items	71Cr	118.37Cr	677.17Cr	1.73TCr	2.56TCr
Income Tax Expense	24Cr	39Cr	176.87Cr	459.82Cr	636.51Cr
Earnings From Continuing Operations	48Cr	80Cr	500.3Cr	1.27TCr	1.93TCr
Net Income to Company	48Cr	80Cr	500.3Cr	1.27TCr	1.93TCr
Minority Interest	98.9L	-4.01Cr	-18Cr	-37Cr	-61Cr
Net Income - (IS)	49Cr	76Cr	482.78Cr	1.24TCr	1.87TCr
Net Income to Common Incl Extra Items	49Cr	76Cr	482.78Cr	1.24TCr	1.87TCr
Net Income to Common Excl. Extra Items	49Cr	76Cr	482.78Cr	1.24TCr	1.87TCr
Per Share Items
Net EPS - Basic	2.46	3.84	21.82	48.05	68.24
Basic EPS - Continuing Operations	2.46	3.84	21.82	48.05	68.24
Basic Weighted Average Shares Outstanding	20Cr	20Cr	22Cr	26Cr	27Cr
Net EPS - Diluted	2.46	3.84	21.57	47.86	67.96
Diluted EPS - Continuing Operations	2.46	3.84	21.57	47.86	67.96
Diluted Weighted Average Shares Outstanding	20Cr	20Cr	22Cr	26Cr	27Cr
Normalized Basic EPS	2.13	3.2	18.72	31.64	56.06
Normalized Diluted EPS	2.13	3.2	18.5	31.51	55.83
Payout Ratio	-	0.63	0.05	0.04	-
Supplemental Items
EBITDA	84Cr	100.87Cr	827.2Cr	1.57TCr	2.68TCr
EBITA	60Cr	66Cr	673.9Cr	1.3TCr	2.32TCr
EBIT	60Cr	66Cr	673.55Cr	1.3TCr	2.32TCr
EBITDAR	85Cr	101.74Cr	828.3Cr	1.57TCr	2.69TCr
Total Revenues (As Reported)	1.99TCr	2.95TCr	6.86TCr	12TCr	15TCr
Effective Tax Rate - (Ratio)	33.36	32.71	26.12	26.52	24.82
Total Current Taxes	21Cr	34Cr	167.71Cr	539.47Cr	610.79Cr
Total Deferred Taxes	1.86Cr	4.78Cr	9.43Cr	-80Cr	41Cr
Normalized Net Income	42Cr	63Cr	414.13Cr	814.67Cr	1.53TCr
Interest on Long-Term Debt	2.17Cr	3.58Cr	3.51Cr	3.56Cr	7.82Cr
Non-Cash Pension Expense	76.5L	-2L	-2L	-50T	7L
Supplemental Operating Expense Items
Advertising Expense	6.49Cr	9.19Cr	21Cr	33Cr	78Cr
Selling and Marketing Expenses	6.49Cr	9.19Cr	21Cr	33Cr	78Cr
Net Rental Expense, Total	70.5L	87.3L	1.11Cr	4.91Cr	9.02Cr
Imputed Operating Lease Interest Expense	54.58L	71.62L	1.8Cr	11Cr	7.32Cr
Imputed Operating Lease Depreciation	15.92L	15.68L	-69.2L	-6.24Cr	1.7Cr
Maintenance & Repair Expenses, Total	38.6L	2.23Cr	1.77Cr	2.56Cr	5.91Cr
Stock-Based Comp., SG&A Exp. (Total)	-	-	37Cr	10Cr	15Cr
Total Stock-Based Compensation	-	-	37Cr	10Cr	15Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	13Cr	139.19Cr	253.65Cr	121.38Cr	509.83Cr
Short Term Investments	132.43Cr	360.34Cr	1.51TCr	3.73TCr	3.34TCr
Total Cash And Short Term Investments	145.25Cr	499.52Cr	1.77TCr	3.85TCr	3.85TCr
Accounts Receivable, Total	118.24Cr	93Cr	312.61Cr	971.39Cr	1.18TCr
Other Receivables	23Cr	45Cr	52Cr	73Cr	132.15Cr
Notes Receivable	48Cr	16Cr	14Cr	25Cr	11Cr
Total Receivables	189.42Cr	153.15Cr	378.04Cr	1.07TCr	1.33TCr
Inventory	368Cr	538.17Cr	2.71TCr	2.59TCr	2.69TCr
Prepaid Expenses	5.9Cr	8.9Cr	13Cr	49Cr	69Cr
Other Current Assets, Total	61Cr	79Cr	615.76Cr	458.57Cr	5.22TCr
Total Current Assets	769.88Cr	1.28TCr	5.48TCr	8.01TCr	13TCr
Gross Property Plant And Equipment	359.77Cr	871.06Cr	1.92TCr	3.33TCr	6.85TCr
Accumulated Depreciation	-87Cr	-137.04Cr	-289.8Cr	-556.67Cr	-938.79Cr
Net Property Plant And Equipment	272.47Cr	734.02Cr	1.63TCr	2.78TCr	5.91TCr
Long-term Investments	117.44Cr	48Cr	154.76Cr	88Cr	20Cr
Goodwill	7.03Cr	6.34Cr	6.34Cr	6.34Cr	6.34Cr
Other Intangibles, Total	7.73Cr	7.67Cr	7.32Cr	6.92Cr	4.31Cr
Accounts Receivable Long-Term	5.17Cr	4.48Cr	-	-	-
Deferred Tax Assets Long-Term	-	18Cr	14Cr	83Cr	46Cr
Other Long-Term Assets, Total	101.33Cr	75Cr	156.7Cr	338.13Cr	604.9Cr
Total Assets	1.28TCr	2.17TCr	7.45TCr	11TCr	20TCr
Liabilities
Accounts Payable, Total	437.27Cr	468.93Cr	1.54TCr	2.01TCr	2.25TCr
Accrued Expenses, Total	6.4Cr	13Cr	29Cr	284.49Cr	109.73Cr
Short-term Borrowings	55Cr	42Cr	49Cr	177.85Cr	912.09Cr
Current Portion of Long-Term Debt	38Cr	82Cr	78Cr	37Cr	3.19Cr
Current Portion of Leases	5.93Cr	7.63Cr	8.74Cr	29Cr	35Cr
Current Income Taxes Payable	14Cr	20Cr	85Cr	289.82Cr	148.1Cr
Unearned Revenue Current, Total	97.9L	658.84Cr	2.34TCr	2.11TCr	4.69TCr
Other Current Liabilities	59Cr	139.33Cr	821.97Cr	478.48Cr	635.4Cr
Total Current Liabilities	616.25Cr	1.43TCr	4.96TCr	5.42TCr	8.79TCr
Long-Term Debt	197.13Cr	188.97Cr	145.83Cr	102.6Cr	24Cr
Long-Term Leases	44Cr	43Cr	38Cr	207.47Cr	224.27Cr
Unearned Revenue Non Current	1.39Cr	41L	327.75Cr	1.24TCr	720.14Cr
Pension & Other Post Retirement Benefits	7L	-	-	90T	37L
Deferred Tax Liability Non Current	4.07Cr	26Cr	48Cr	37Cr	41Cr
Other Non Current Liabilities	32Cr	41Cr	69Cr	159.42Cr	355.66Cr
Total Liabilities	895.76Cr	1.73TCr	5.59TCr	7.17TCr	10TCr
Common Stock, Total	197.14Cr	197.14Cr	243.37Cr	262.96Cr	287.28Cr
Additional Paid In Capital	-	-	973.13Cr	1.96TCr	5.44TCr
Retained Earnings	128.9Cr	224.99Cr	572.85Cr	1.81TCr	3.68TCr
Comprehensive Income and Other	19Cr	5.52Cr	49Cr	59Cr	74Cr
Total Common Equity	345.12Cr	427.65Cr	1.84TCr	4.09TCr	9.48TCr
Minority Interest	40Cr	12Cr	23Cr	61Cr	116.08Cr
Total Equity	385.29Cr	439.85Cr	1.86TCr	4.15TCr	9.6TCr
Total Liabilities And Equity	1.28TCr	2.17TCr	7.45TCr	11TCr	20TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	20Cr	20Cr	24Cr	26Cr	29Cr
ECS Total Common Shares Outstanding	20Cr	20Cr	24Cr	26Cr	29Cr
Book Value / Share	17.51	21.69	75.54	155.45	329.96
Tangible Book Value	330.35Cr	413.64Cr	1.82TCr	4.07TCr	9.47TCr
Tangible Book Value Per Share	16.76	20.98	74.98	154.95	329.59
Total Debt	339.87Cr	363.41Cr	320.27Cr	553.38Cr	1.2TCr
Net Debt	194.63Cr	-136.12Cr	-1.45TCr	-3.3TCr	-2.65TCr
Debt Equivalent of Unfunded Proj. Benefit Obligation	2.28Cr	3L	41.8L	1.79Cr	2.14Cr
Debt Equivalent Oper. Leases	5.64Cr	6.98Cr	8.86Cr	39Cr	72Cr
Minority Interest, Total (Incl. Fin. Div)	40Cr	12Cr	23Cr	61Cr	116.08Cr
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	6	-	6	6	6
Inventories - Raw Materials, Total	241.02Cr	474.78Cr	1.64TCr	931.25Cr	1.69TCr
Inventories - Work In Process, Total	24Cr	18Cr	60Cr	68Cr	65Cr
Inventories - Finished Goods, Total	103.29Cr	46Cr	1.01TCr	1.56TCr	914.63Cr
Inventories - Others	-	-	-	22Cr	25Cr
Land - (BS)	5.9Cr	149.88Cr	291.56Cr	296.11Cr	483.83Cr
Buildings, Total	11Cr	65Cr	122.99Cr	134.56Cr	660.66Cr
Machinery, Total	277.9Cr	463.61Cr	842.14Cr	1.23TCr	3.29TCr
Full Time Employees	-	-	7.8T	2.51T	1.8T
Accumulated Allowance for Doubtful Accounts (Supple)	6.53Cr	9.46Cr	7.8Cr	23Cr	29Cr
Order Backlog	-	-	43TCr	-	49TCr

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	49Cr	76Cr	482.78Cr	1.24TCr	1.87TCr
Depreciation & Amortization - CF	28Cr	43Cr	163.73Cr	276.38Cr	402.01Cr
Amortization of Goodwill and Intangible Assets - (CF)	24.5L	32.2L	35.4L	36.7L	33L
Depreciation & Amortization, Total	29Cr	43Cr	164.09Cr	276.74Cr	402.34Cr
Amortization of Deferred Charges, Total - (CF)	1L	3L	5L	6L	11L
(Gain) Loss From Sale Of Asset	-1.25Cr	-10Cr	1.17Cr	38.7L	3.8Cr
(Gain) Loss on Sale of Investments - (CF)	-37.1L	2.37Cr	58.6L	-17Cr	-11Cr
Asset Writedown & Restructuring Costs	6L	-	-	2.48Cr	-
Stock-Based Compensation (CF)	-	-	37Cr	9.83Cr	15Cr
Provision and Write-off of Bad Debts	1.73Cr	-	67.4L	-61.7L	-
Other Operating Activities, Total	15Cr	54Cr	154.6Cr	204Cr	-276.72Cr
Change In Accounts Receivable	21Cr	21Cr	-214.51Cr	-669.57Cr	-223.23Cr
Change In Inventories	-99Cr	-170.16Cr	-2.17TCr	123.34Cr	-106.58Cr
Change In Accounts Payable	83Cr	177.66Cr	1.07TCr	-6.46Cr	556.88Cr
Change in Other Net Operating Assets	-30Cr	504.23Cr	2.03TCr	1.14TCr	930.28Cr
Cash from Operations	68Cr	697.96Cr	1.56TCr	2.31TCr	3.16TCr
Capital Expenditure	-197.9Cr	-496.46Cr	-865.44Cr	-1.34TCr	-3.27TCr
Sale of Property, Plant, and Equipment	4.92Cr	78.5L	3.65Cr	4.99Cr	1.48Cr
Cash Acquisitions	-3.97Cr	-	-148.69Cr	-	-
Divestitures	23.8L	42Cr	-	-	-
Investment in Marketable and Equity Securities, Total	-80Cr	-261.99Cr	-1.26TCr	-2.12TCr	-3.84TCr
Net (Increase) Decrease in Loans Originated / Sold - Investing	9.22Cr	32Cr	2.39Cr	-11Cr	7.24Cr
Other Investing Activities, Total	17Cr	9.34Cr	30Cr	124.87Cr	298.29Cr
Cash from Investing	-250.22Cr	-674.5Cr	-2.24TCr	-3.34TCr	-6.81TCr
Long-Term Debt Issued, Total	183.88Cr	140.7Cr	-	779.35Cr	808.79Cr
Total Debt Issued	183.88Cr	140.7Cr	-	779.35Cr	808.79Cr
Long-Term Debt Repaid, Total	-	-10Cr	-162.45Cr	-752.34Cr	-209.69Cr
Total Debt Repaid	-	-10Cr	-162.45Cr	-752.34Cr	-209.69Cr
Issuance of Common Stock	-	-	1.04TCr	1TCr	3.64TCr
Common Dividends Paid	-	-47.6L	-26.5L	-53.2L	-
Common & Preferred Stock Dividends Paid	-	-47.6L	-26.5L	-53.2L	-
Other Financing Activities, Total	-23Cr	-29Cr	-86Cr	-121.72Cr	-198.68Cr
Cash from Financing	161.35Cr	101.06Cr	791.17Cr	909.18Cr	4.04TCr
Foreign Exchange Rate Adjustments	-	1.96Cr	5.61Cr	-6.22Cr	2.86Cr
Miscellaneous Cash Flow Adjustments	-	-11L	-2L	-	-
Net Change in Cash	-21Cr	126.37Cr	114.47Cr	-132.27Cr	388.44Cr
Supplemental Items
Cash Interest Paid	23Cr	29Cr	65Cr	120.71Cr	71Cr
Cash Income Tax Paid (Refund)	21Cr	26Cr	100.35Cr	335.08Cr	742.8Cr
Levered Free Cash Flow	-141.39Cr	193.46Cr	299.94Cr	-379.92Cr	-294.18Cr
Unlevered Free Cash Flow	-126.36Cr	216Cr	343.34Cr	-302.42Cr	-238.61Cr
Change In Net Working Capital	-5.38Cr	-628Cr	-586.99Cr	60Cr	-1.17TCr
Net Debt Issued / Repaid	183.88Cr	130.46Cr	-162.45Cr	27Cr	599.1Cr

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.39	2.38	8.75	8.68	9.33
Return on Total Capital	6.15	5.39	28.2	23.63	18.71
Return On Equity %	13.09	19.31	43.47	42.41	28.06
Return on Common Equity	15.06	19.58	42.61	41.75	27.53
Margin Analysis
Gross Profit Margin %	14.69	16.09	21.23	20.9	27.14
SG&A Margin	10.34	12.38	8.87	7.07	8.29
EBITDA Margin %	4.29	3.53	12.25	13.74	18.55
EBITA Margin %	3.09	2.32	9.98	11.42	16.06
EBIT Margin %	3.08	2.31	9.98	11.42	16.06
Income From Continuing Operations Margin %	2.43	2.79	7.41	11.18	13.35
Net Income Margin %	2.48	2.65	7.15	10.85	12.93
Net Avail. For Common Margin %	2.48	2.65	7.15	10.85	12.93
Normalized Net Income Margin	2.15	2.21	6.13	7.15	10.62
Levered Free Cash Flow Margin	-7.24	6.78	4.44	-3.33	-2.04
Unlevered Free Cash Flow Margin	-6.47	7.57	5.09	-2.65	-1.65
Asset Turnover
Asset Turnover	1.76	1.65	1.4	1.22	0.93
Fixed Assets Turnover	8.96	5.67	5.72	5.17	3.33
Receivables Turnover (Average Receivables)	15.11	27.08	33.33	17.75	13.4
Inventory Turnover (Average Inventory)	5.45	5.29	3.28	3.41	3.99
Short Term Liquidity
Current Ratio	1.25	0.89	1.11	1.48	1.5
Quick Ratio	0.47	0.44	0.43	0.9	0.59
Operating Cash Flow to Current Liabilities	0.11	0.49	0.31	0.43	0.36
Days Sales Outstanding (Average Receivables)	24.16	13.48	10.95	20.62	27.24
Days Outstanding Inventory (Average Inventory)	66.95	69.05	111.44	107.47	91.51
Average Days Payable Outstanding	74.3	64.47	49.06	82.96	64.03
Cash Conversion Cycle (Average Days)	16.8	18.05	73.33	45.12	54.72
Long Term Solvency
Total Debt/Equity	88.21	82.62	17.2	13.34	12.5
Total Debt / Total Capital	46.87	45.24	14.68	11.77	11.11
LT Debt/Equity	62.68	52.67	9.88	7.47	2.59
Long-Term Debt / Total Capital	33.3	28.84	8.43	6.59	2.3
Total Liabilities / Total Assets	69.92	79.74	75.01	63.33	51.41
EBIT / Interest Expense	2.5	1.83	9.7	10.49	26.08
EBITDA / Interest Expense	3.69	3.03	12.06	12.72	30.61
(EBITDA - Capex) / Interest Expense	-4.54	-10.74	-0.4	1.9	-6.21
Total Debt / EBITDA	3.83	3.33	0.38	0.35	0.44
Net Debt / EBITDA	2.19	-1.25	-1.73	-2.09	-0.97
Total Debt / (EBITDA - Capex)	-3.11	-0.94	-11.52	2.35	-2.17
Net Debt / (EBITDA - Capex)	-1.78	0.35	52.06	-14	4.8
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-2.15	46.16	136.52	68.83	26.73
Gross Profit, 1 Yr. Growth %	-4.24	60.14	212	66.21	64.54
EBITDA, 1 Yr. Growth %	-13.17	20.29	720.07	89.38	71.08
EBITA, 1 Yr. Growth %	-19.17	9.55	918.01	93.12	78.22
EBIT, 1 Yr. Growth %	-19.25	9.46	922.45	93.17	78.25
Earnings From Cont. Operations, 1 Yr. Growth %	13.65	67.62	528.12	154.73	51.3
Net Income, 1 Yr. Growth %	8.95	55.93	538.27	156.27	50.94
Normalized Net Income, 1 Yr. Growth %	4.58	50.01	556.72	96.72	88.33
Diluted EPS Before Extra, 1 Yr. Growth %	8.95	55.93	462.18	121.88	42
Accounts Receivable, 1 Yr. Growth %	-15.69	-21.75	237.87	210.73	21.97
Inventory, 1 Yr. Growth %	51.38	46.24	403.35	-4.55	4.12
Net Property, Plant and Equip., 1 Yr. Growth %	66.68	169.4	121.85	70.57	112.73
Total Assets, 1 Yr. Growth %	36.54	69.51	243.1	52.48	74.54
Tangible Book Value, 1 Yr. Growth %	22.01	25.21	341.15	123.29	132.38
Common Equity, 1 Yr. Growth %	15.47	23.91	329.89	122.36	131.89
Cash From Operations, 1 Yr. Growth %	111.83	930.27	123.54	47.74	37.01
Capital Expenditures, 1 Yr. Growth %	266.85	150.87	74.32	55.11	143.91
Levered Free Cash Flow, 1 Yr. Growth %	182.54	-236.83	55.04	-241.19	-92.71
Unlevered Free Cash Flow, 1 Yr. Growth %	280.6	-270.94	58.96	-196.78	-93.97
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	10.79	19.59	85.93	99.83	46.28
Gross Profit, 2 Yr. CAGR %	-3.33	23.83	123.53	127.72	65.37
EBITDA, 2 Yr. CAGR %	-23.01	2.2	214.08	294.09	80
EBITA, 2 Yr. CAGR %	-30.21	-5.9	233.95	343.4	85.52
EBIT, 2 Yr. CAGR %	-24.38	-5.98	234.55	344.42	85.56
Earnings From Cont. Operations, 2 Yr. CAGR %	-23.67	38.02	224.47	300	96.32
Net Income, 2 Yr. CAGR %	-21.75	30.34	215.48	304.43	96.68
Normalized Net Income, 2 Yr. CAGR %	3.57	25.25	213.87	259.43	92.48
Diluted EPS Before Extra, 2 Yr. CAGR %	-21.75	30.34	196.08	253.18	77.5
Accounts Receivable, 2 Yr. CAGR %	-25.87	-18.78	62.6	224.02	94.68
Inventory, 2 Yr. CAGR %	91.9	48.79	171.31	119.19	-0.31
Net Property, Plant and Equip., 2 Yr. CAGR %	74.07	111.91	144.47	94.53	90.49
Total Assets, 2 Yr. CAGR %	27.62	52.14	141.17	128.25	63.14
Tangible Book Value, 2 Yr. CAGR %	14.09	23.6	135.02	213.86	127.79
Common Equity, 2 Yr. CAGR %	15.7	19.62	130.8	209.17	127.07
Cash From Operations, 2 Yr. CAGR %	50.99	367.16	379.9	81.73	42.27
Capital Expenditures, 2 Yr. CAGR %	87.8	203.37	109.12	64.43	94.5
Levered Free Cash Flow, 2 Yr. CAGR %	17.01	96.62	45.65	40.14	4.56
Unlevered Free Cash Flow, 2 Yr. CAGR %	34.29	155.07	64.84	18.33	-12.62
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	12.89	21.51	50.11	80.05	71.69
Gross Profit, 3 Yr. CAGR %	4.24	14.38	68.5	102.51	104.34
EBITDA, 3 Yr. CAGR %	-12.86	-10.66	104.6	165.34	198.4
EBITA, 3 Yr. CAGR %	-15.06	-18.89	108.12	178.23	227.23
EBIT, 3 Yr. CAGR %	-15.17	-14.45	108.3	178.58	227.75
Earnings From Cont. Operations, 3 Yr. CAGR %	25.18	-0.78	128.72	199.33	189.28
Net Income, 3 Yr. CAGR %	28.18	-1.53	121.34	194.36	191.18
Normalized Net Income, 3 Yr. CAGR %	19.43	17.18	117.6	168.61	189.77
Diluted EPS Before Extra, 3 Yr. CAGR %	26	-1.53	112.17	168.93	160.67
Accounts Receivable, 3 Yr. CAGR %	13.75	-24.52	30.63	101.78	133.95
Inventory, 3 Yr. CAGR %	55.16	75.28	123.36	91.53	71.02
Net Property, Plant and Equip., 3 Yr. CAGR %	48.75	101.34	115.17	116.83	100.42
Total Assets, 3 Yr. CAGR %	5.87	40.29	99.51	106.7	108.73
Tangible Book Value, 3 Yr. CAGR %	-2.96	17.68	88.89	131.05	183.94
Common Equity, 3 Yr. CAGR %	25.22	18.37	83.22	127.95	180.91
Cash From Operations, 3 Yr. CAGR %	-	186.39	265.4	224.04	65.4
Capital Expenditures, 3 Yr. CAGR %	-	106.83	152.21	89.3	87.53
Levered Free Cash Flow, 3 Yr. CAGR %	-	23.27	81.65	39.03	14.99
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	45.54	117.87	33.76	3.37
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	22.93	37.83	48.26	48.57
Gross Profit, 5 Yr. CAGR %	-	16.7	41.43	50.65	67.24
EBITDA, 5 Yr. CAGR %	-	-4.92	45.52	61.75	94.38
EBITA, 5 Yr. CAGR %	-	-8.24	46.88	60.02	98.77
EBIT, 5 Yr. CAGR %	-	-8.33	46.86	65.36	98.89
Earnings From Cont. Operations, 5 Yr. CAGR %	-	26.2	83.23	73.29	115.16
Net Income, 5 Yr. CAGR %	-	19.72	83.77	73.27	111.12
Normalized Net Income, 5 Yr. CAGR %	-	11.54	75.78	83.47	107.18
Diluted EPS Before Extra, 5 Yr. CAGR %	-	25.55	77.33	64.13	97.55
Accounts Receivable, 5 Yr. CAGR %	-	-7.08	31.23	35.19	53.23
Inventory, 5 Yr. CAGR %	-	55.38	94.02	91.68	61.76
Net Property, Plant and Equip., 5 Yr. CAGR %	-	68	81.45	98.59	104.94
Total Assets, 5 Yr. CAGR %	-	14.73	47.16	70.44	83.92
Tangible Book Value, 5 Yr. CAGR %	-	0.75	38.23	74.23	103.58
Common Equity, 5 Yr. CAGR %	-	22.85	59.92	73.79	99.64
Cash From Operations, 5 Yr. CAGR %	-	-	-	138.75	150.56
Capital Expenditures, 5 Yr. CAGR %	-	-	-	88.7	127.32
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	29.76	42.51
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	33.97	48.36