Cash flow First Solar, Inc.

Equities

FSLR

US3364331070

Renewable Energy Equipment & Services

Market Closed - Nasdaq Other stock markets 07:00:00 13/03/26 am AEDT			5-day change	1st Jan Change
197.56 ^USD	-1.34%		+3.00%	-24.37%

06/03	Evercore ISI Adjusts Price Target on First Solar to $212 From $241, Maintains In Line Rating	MT
03/03	Argus Adjusts Price Target on First Solar to $250 From $300, Maintains Buy Rating	MT

730f7.JA01yzZrEO8iEWTm2hEyAzauuIRgstq3Zoe-Nxdm4XU.HER5v0AyRaFbdAG0sWN2bnGY4vcC14zhEbfHUkVRtUJWXAS6ZgRErX0kDw

Published financial data: FIRST SOLAR, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	2.92B	2.62B	3.32B	4.21B	5.22B
Total Revenues	2.92B	2.62B	3.32B	4.21B	5.22B
Cost of Goods Sold, Total	2.18B	2.49B	2.02B	2.35B	3.1B
Gross Profit	740M	128M	1.3B	1.86B	2.12B
Selling General & Admin Expenses, Total	170M	165M	198M	188M	204M
Stock-Based Compensation (IS)	-	35K	71K	-17K	1K
Pre-Opening Costs	21.05M	73.04M	64.71M	84.51M	86.29M
R&D Expenses	99.12M	113M	152M	191M	233M
Other Operating Expenses, Total	290M	351M	415M	464M	523M
Operating Income	450M	-223M	886M	1.39B	1.6B
Interest Expense, Total	-13.11M	-12.22M	-12.96M	-38.87M	-44.13M
Interest And Investment Income	6.18M	33.28M	97.67M	89.09M	81.76M
Net Interest Expenses	-6.93M	21.06M	84.7M	50.22M	37.63M
Income (Loss) On Equity Invest.	-	-	-	-	-
Currency Exchange Gains (Loss)	-9.18M	-15.46M	-23.3M	-29.64M	-40.76M
Other Non Operating Income (Expenses)	-10.18M	30.23M	-27.37M	-8.67M	-12.81M
EBT, Excl. Unusual Items	423M	-187M	920M	1.41B	1.58B
Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	11.7M	-	-9K	11K	-9K
Gain (Loss) On Sale Of Assets	147M	254M	6.88M	1.12M	-
Asset Writedown	-10.2M	-57.8M	-	-	-
Legal Settlements	-	-	-35.59M	-430K	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	572M	8.6M	891M	1.41B	1.58B
Income Tax Expense	103M	52.76M	60.51M	114M	52.68M
Earnings From Continuing Operations	469M	-44.17M	831M	1.29B	1.53B
Net Income to Company	469M	-44.17M	831M	1.29B	1.53B
Net Income - (IS)	469M	-44.17M	831M	1.29B	1.53B
Net Income to Common Incl Extra Items	469M	-44.17M	831M	1.29B	1.53B
Net Income to Common Excl. Extra Items	469M	-44.17M	831M	1.29B	1.53B
Per Share Items
Net EPS - Basic	4.41	-0.41	7.78	12.07	14.25
Basic EPS - Continuing Operations	4.41	-0.41	7.78	12.07	14.25
Basic Weighted Average Shares Outstanding	106M	107M	107M	107M	107M
Net EPS - Diluted	4.38	-0.41	7.74	12.02	14.21
Diluted EPS - Continuing Operations	4.38	-0.41	7.74	12.02	14.21
Diluted Weighted Average Shares Outstanding	107M	107M	107M	108M	108M
Normalized Basic EPS	2.49	-1.1	5.38	8.21	9.21
Normalized Diluted EPS	2.47	-1.1	5.36	8.17	9.19
Supplemental Items
EBITDA	710M	46.78M	1.19B	1.82B	2.13B
EBITA	466M	-207M	902M	1.41B	1.61B
EBIT	450M	-223M	886M	1.39B	1.6B
EBITDAR	730M	64.27M	1.21B	1.84B	2.15B
Effective Tax Rate - (Ratio)	18.08	613.68	6.79	8.13	3.33
Current Domestic Taxes	13M	8.83M	52.98M	112M	22.41M
Current Foreign Taxes	10.11M	49.98M	20.77M	21.83M	-7.74M
Total Current Taxes	23.11M	58.82M	73.74M	134M	14.68M
Deferred Domestic Taxes	62.28M	-14.63M	-24.8M	-34.34M	30.32M
Deferred Foreign Taxes	18.08M	8.58M	11.57M	14.44M	7.69M
Total Deferred Taxes	80.36M	-6.05M	-13.23M	-19.9M	38.01M
Normalized Net Income	265M	-117M	575M	879M	988M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	-	-	51K	1.45M	2.25M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	99.12M	113M	152M	191M	233M
Net Rental Expense, Total	20.54M	17.49M	15.98M	18.26M	24.88M
Imputed Operating Lease Interest Expense	4.89M	5.41M	3.86M	8.45M	12.79M
Imputed Operating Lease Depreciation	15.65M	12.08M	12.12M	9.8M	12.1M
Stock-Based Comp., COGS (Total)	892K	3.17M	4.8M	3.92M	2.65M
Stock-Based Comp., R&D Exp. (Total)	432K	3.08M	4.13M	3.5M	2.89M
Stock-Based Comp., SG&A Exp. (Total)	19.58M	22.37M	25.22M	20.7M	13.68M
Stock-Based Comp., Other (Total)	-	35K	71K	-17K	1K
Total Stock-Based Compensation	20.9M	28.66M	34.22M	28.1M	19.22M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	1.45B	1.48B	1.95B	1.62B	2.8B
Short Term Investments	375M	1.1B	155M	172M	51.85M
Total Cash And Short Term Investments	1.83B	2.58B	2.1B	1.79B	2.86B
Accounts Receivable, Total	455M	355M	661M	1.26B	1.29B
Other Receivables	-	-	725M	526M	624M
Notes Receivable	-	-	-	-	-
Total Receivables	455M	355M	1.39B	1.79B	1.92B
Inventory	778M	736M	968M	1.3B	1.02B
Prepaid Expenses	28.23M	43.26M	62.48M	75.25M	99.28M
Restricted Cash	1.53M	3.18M	8.26M	8.26M	-
Other Current Assets, Total	102M	76.21M	108M	127M	141M
Total Current Assets	3.19B	3.79B	4.63B	5.09B	6.03B
Gross Property Plant And Equipment	4.37B	5.1B	6.19B	7.65B	8.43B
Accumulated Depreciation	-1.3B	-1.47B	-1.69B	-2.09B	-2.56B
Net Property Plant And Equipment	3.07B	3.64B	4.5B	5.56B	5.87B
Long-term Investments	-	-	-	-	-
Goodwill	14.46M	14.46M	29.69M	28.34M	31.1M
Other Intangibles, Total	45.51M	31.11M	64.51M	54.65M	51.01M
Accounts Receivable Long-Term	42.13M	13M	-	94.37M	16M
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	59.16M	78.68M	143M	209M	195M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	987M	686M	995M	1.09B	1.13B
Total Assets	7.41B	8.25B	10.37B	12.12B	13.32B
Liabilities
Accounts Payable, Total	193M	341M	207M	482M	406M
Accrued Expenses, Total	192M	220M	309M	310M	351M
Short-term Borrowings	-	-	60.83M	146M	125M
Current Portion of Long-Term Debt	3.9M	-	35.41M	90.82M	90.84M
Current Portion of Leases	12.78M	9.19M	10.36M	13.28M	18.09M
Current Income Taxes Payable	4.54M	29.4M	22.13M	77.36M	7.49M
Unearned Revenue Current, Total	202M	263M	414M	712M	1.01B
Other Current Liabilities	118M	175M	248M	246M	241M
Total Current Liabilities	727M	1.04B	1.31B	2.08B	2.25B
Long-Term Debt	236M	184M	464M	373M	283M
Long-Term Leases	146M	40.59M	53.72M	95.74M	139M
Unearned Revenue Non Current	95.94M	945M	1.59B	1.33B	805M
Deferred Tax Liability Non Current	27.7M	28.93M	42.77M	54.7M	69.69M
Other Non Current Liabilities	222M	179M	219M	218M	233M
Total Liabilities	1.45B	2.42B	3.68B	4.15B	3.78B
Common Stock, Total	106K	107K	107K	107K	107K
Additional Paid In Capital	2.87B	2.89B	2.89B	2.9B	2.9B
Retained Earnings	3.18B	3.14B	3.97B	5.26B	6.79B
Comprehensive Income and Other	-96.36M	-192M	-174M	-184M	-155M
Total Common Equity	5.96B	5.84B	6.69B	7.98B	9.54B
Total Equity	5.96B	5.84B	6.69B	7.98B	9.54B
Total Liabilities And Equity	7.41B	8.25B	10.37B	12.12B	13.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	106M	107M	107M	107M	107M
ECS Total Common Shares Outstanding	106M	107M	107M	107M	107M
Book Value / Share	56.05	54.74	62.59	74.51	88.88
Tangible Book Value	5.9B	5.79B	6.59B	7.89B	9.46B
Tangible Book Value Per Share	55.48	54.32	61.71	73.74	88.12
Total Debt	399M	234M	624M	719M	655M
Net Debt	-1.43B	-2.34B	-1.48B	-1.07B	-2.2B
Debt Equivalent Oper. Leases	164M	140M	128M	146M	199M
Equity Method Investments, Total	-	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	778M	736M	968M	1.3B	1.02B
Land - (BS)	18.36M	35.26M	35.36M	38.88M	39.58M
Buildings, Total	693M	893M	1.04B	1.58B	1.93B
Machinery, Total	2.95B	2.92B	3.75B	4.98B	5.91B
Full Time Employees	4.8K	5.5K	6.7K	8.1K	7.9K
Accumulated Allowance for Doubtful Accounts (Supple)	664K	1.04M	1.61M	1.3M	13.27M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	469M	-44.17M	831M	1.29B	1.53B
Depreciation & Amortization - CF	244M	253M	292M	407M	519M
Amortization of Goodwill and Intangible Assets - (CF)	16.3M	16.4M	16M	16.3M	10.3M
Depreciation & Amortization, Total	260M	270M	308M	423M	529M
(Gain) Loss From Sale Of Asset	-147M	-254M	-6.88M	-1.12M	-
(Gain) Loss on Sale of Investments - (CF)	-11.7M	-	9K	-	-
Asset Writedown & Restructuring Costs	22.88M	63.34M	1.57M	1.36M	-
(Income) Loss On Equity Investments - (CF)	-	-	-	-	-
Stock-Based Compensation (CF)	20.9M	28.66M	34.22M	28.1M	19.22M
Other Operating Activities, Total	-39.13M	-189M	-38.76M	-42.77M	69.84M
Change In Accounts Receivable	-96.95M	119M	-304M	-505M	30.62M
Change In Inventories	-136M	16.69M	-205M	-277M	378M
Change In Accounts Payable	34.92M	5.57M	79.33M	269M	4.68M
Change in Unearned Revenues	-	913M	783M	698K	-190M
Change In Income Taxes	-13.06M	43.59M	8.66M	47.42M	-31.81M
Change in Other Net Operating Assets	-125M	-98.89M	-889M	-17.83M	-281M
Cash from Operations	238M	873M	602M	1.22B	2.06B
Capital Expenditure	-540M	-904M	-1.39B	-1.53B	-870M
Cash Acquisitions	-	-	-35.74M	-	-
Divestitures	300M	442M	7.68M	-	-
Investment in Marketable and Equity Securities, Total	147M	-728M	951M	-24.24M	113M
Other Investing Activities, Total	-6.71M	-3.05M	-9.05M	-12.99M	-8.39M
Cash from Investing	-99.04M	-1.19B	-473M	-1.56B	-765M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	129M	397M	368M	258M	858M
Total Debt Issued	129M	397M	368M	258M	858M
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-72.68M	-75.9M	-	-206M	-961M
Total Debt Repaid	-72.68M	-75.9M	-	-206M	-961M
Repurchase of Common Stock	-15.99M	-12.09M	-31.13M	-20.18M	-15.52M
Other Financing Activities, Total	-	-	-	-7.61M	-810K
Cash from Financing	40.55M	309M	337M	24.85M	-119M
Foreign Exchange Rate Adjustments	3.17M	47.44M	5.28M	-6.39M	3.1M
Net Change in Cash	182M	37.62M	472M	-327M	1.18B
Supplemental Items
Cash Interest Paid	12.7M	11.6M	15M	36.2M	34.6M
Cash Income Tax Paid (Refund)	38.2M	-	90.9M	94.2M	-
Levered Free Cash Flow	-166M	-282M	-1.65B	-363M	964M
Unlevered Free Cash Flow	-158M	-274M	-1.64B	-339M	992M
Change In Net Working Capital	179M	-470M	1.15B	136M	-315M
Net Debt Issued / Repaid	56.54M	321M	368M	52.64M	-103M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	3.87	-1.78	5.95	7.75	7.84
Return on Total Capital	4.55	-2.24	8.28	10.88	10.57
Return On Equity %	8.16	-0.75	13.27	17.62	17.45
Return on Common Equity	8.16	-0.75	13.27	17.62	17.45
Margin Analysis
Gross Profit Margin %	25.32	4.87	39.19	44.17	40.62
SG&A Margin	5.83	6.29	5.95	4.48	3.9
EBITDA Margin %	24.27	1.79	35.98	43.2	40.73
EBITA Margin %	15.94	-7.89	27.18	33.52	30.79
EBIT Margin %	15.38	-8.51	26.7	33.13	30.59
Income From Continuing Operations Margin %	16.03	-1.69	25.03	30.72	29.28
Net Income Margin %	16.03	-1.69	25.03	30.72	29.28
Net Avail. For Common Margin %	16.03	-1.69	25.03	30.72	29.28
Normalized Net Income Margin	9.05	-4.46	17.33	20.89	18.93
Levered Free Cash Flow Margin	-5.68	-10.76	-49.63	-8.64	18.47
Unlevered Free Cash Flow Margin	-5.4	-10.47	-49.39	-8.06	19
Asset Turnover
Asset Turnover	0.4	0.33	0.36	0.37	0.41
Fixed Assets Turnover	0.98	0.78	0.82	0.84	0.91
Receivables Turnover (Average Receivables)	7.83	6.47	6.74	4.38	4.09
Inventory Turnover (Average Inventory)	3.02	3.29	2.37	2.07	2.68
Short Term Liquidity
Current Ratio	4.39	3.65	3.55	2.45	2.67
Quick Ratio	3.14	2.83	2.67	1.72	2.12
Operating Cash Flow to Current Liabilities	0.33	0.84	0.46	0.59	0.91
Days Sales Outstanding (Average Receivables)	46.64	56.42	54.17	83.61	89.34
Days Outstanding Inventory (Average Inventory)	120.77	110.9	154.1	176.63	136.27
Average Days Payable Outstanding	29.96	39.85	44.49	47.09	57.55
Cash Conversion Cycle (Average Days)	137.46	127.47	163.78	213.15	168.07
Long Term Solvency
Total Debt/Equity	6.69	4.01	9.34	9.01	6.87
Total Debt / Total Capital	6.27	3.86	8.54	8.27	6.43
LT Debt/Equity	6.41	3.85	7.74	5.88	4.42
Long-Term Debt / Total Capital	6.01	3.71	7.08	5.39	4.13
Total Liabilities / Total Assets	19.61	29.27	35.48	34.2	28.4
EBIT / Interest Expense	34.31	-18.24	68.34	35.86	36.18
EBITDA / Interest Expense	55.7	5.26	93.32	47.22	48.74
(EBITDA - Capex) / Interest Expense	14.48	-68.66	-13.64	7.96	29.03
Total Debt / EBITDA	0.55	3.64	0.52	0.39	0.3
Net Debt / EBITDA	-1.96	-36.47	-1.22	-0.59	-1.02
Total Debt / (EBITDA - Capex)	2.1	-0.28	-3.53	2.32	0.51
Net Debt / (EBITDA - Capex)	-7.52	2.79	8.36	-3.47	-1.72
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	7.82	-10.4	26.7	26.75	24.08
Gross Profit, 1 Yr. Growth %	6.03	-82.75	918.88	42.84	14.13
EBITDA, 1 Yr. Growth %	23.66	-93.41	2.45K	52.2	17
EBITA, 1 Yr. Growth %	30.56	-144.33	-536.69	56.33	13.98
EBIT, 1 Yr. Growth %	31.91	-149.58	-497.39	57.31	14.57
Earnings From Cont. Operations, 1 Yr. Growth %	17.66	-109.42	-1.98K	55.52	18.28
Net Income, 1 Yr. Growth %	17.66	-109.42	-1.98K	55.52	18.28
Normalized Net Income, 1 Yr. Growth %	41.54	-144.19	-591.68	52.79	12.47
Diluted EPS Before Extra, 1 Yr. Growth %	17.43	-109.46	-1.97K	55.3	18.22
Accounts Receivable, 1 Yr. Growth %	55.48	-21.93	103.73	90.84	2.62
Inventory, 1 Yr. Growth %	16.79	-5.47	31.57	34.13	-21.8
Net Property, Plant and Equip., 1 Yr. Growth %	7.04	18.28	23.93	23.53	5.66
Total Assets, 1 Yr. Growth %	4.29	11.3	25.62	16.97	9.87
Tangible Book Value, 1 Yr. Growth %	8.24	-1.85	13.86	19.74	19.78
Common Equity, 1 Yr. Growth %	7.94	-2.07	14.59	19.29	19.56
Cash From Operations, 1 Yr. Growth %	539.98	267.64	-31.04	102.24	68.89
Capital Expenditures, 1 Yr. Growth %	29.68	67.24	53.47	10.04	-43
Levered Free Cash Flow, 1 Yr. Growth %	-41.87	69.73	484.51	-77.95	-365.35
Unlevered Free Cash Flow, 1 Yr. Growth %	-41.67	73.7	497.84	-79.32	-392.51
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-2.31	-1.71	6.55	26.72	25.41
Gross Profit, 2 Yr. CAGR %	16.09	-57.24	33.49	415.7	27.68
EBITDA, 2 Yr. CAGR %	32.09	-71.45	30.66	1.18K	33.44
EBITA, 2 Yr. CAGR %	46.77	-23.92	40.68	130.96	33.49
EBIT, 2 Yr. CAGR %	49.49	-19.13	41.99	122.81	34.25
Earnings From Cont. Operations, 2 Yr. CAGR %	101.94	-66.7	33.14	440.87	35.63
Net Income, 2 Yr. CAGR %	101.94	-66.7	33.14	440.87	35.63
Normalized Net Income, 2 Yr. CAGR %	44.79	-20.91	49.22	139.57	31.09
Diluted EPS Before Extra, 2 Yr. CAGR %	100.33	-66.66	32.93	438.5	35.5
Accounts Receivable, 2 Yr. CAGR %	-16.9	10.17	20.55	97.18	39.94
Inventory, 2 Yr. CAGR %	25.13	5.08	11.52	32.85	2.42
Net Property, Plant and Equip., 2 Yr. CAGR %	4.71	12.52	20.97	23.73	14.25
Total Assets, 2 Yr. CAGR %	-0.68	7.74	18.24	21.22	13.37
Tangible Book Value, 2 Yr. CAGR %	8.43	3.07	5.72	16.76	19.76
Common Equity, 2 Yr. CAGR %	8.13	2.81	5.93	16.92	19.43
Cash From Operations, 2 Yr. CAGR %	16.78	385.06	59.22	18.09	84.81
Capital Expenditures, 2 Yr. CAGR %	-10.11	47.27	60.21	29.96	-20.8
Levered Free Cash Flow, 2 Yr. CAGR %	324.78	-0.67	209.1	6.89	-23.5
Unlevered Free Cash Flow, 2 Yr. CAGR %	145.83	0.65	215.93	4.52	-22.22
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.22	-5.08	6.97	12.89	25.84
Gross Profit, 3 Yr. CAGR %	23.58	-38.52	23.05	36.53	211.93
EBITDA, 3 Yr. CAGR %	60.74	-51.37	27.67	37.48	477.78
EBITA, 3 Yr. CAGR %	106.51	-1.53	36.21	45.71	82.51
EBIT, 3 Yr. CAGR %	123.8	3.48	37.49	46.92	78.51
Earnings From Cont. Operations, 3 Yr. CAGR %	48.09	-27.3	27.76	40.22	225.86
Net Income, 3 Yr. CAGR %	48.09	-27.3	27.76	40.22	225.86
Normalized Net Income, 3 Yr. CAGR %	66.12	-2.51	45.43	50.4	86.19
Diluted EPS Before Extra, 3 Yr. CAGR %	47.68	-27.58	27.55	40	224.85
Accounts Receivable, 3 Yr. CAGR %	-8.13	-18.61	31.22	40.5	58.61
Inventory, 3 Yr. CAGR %	20.5	13.97	13.25	18.6	11.34
Net Property, Plant and Equip., 3 Yr. CAGR %	14.19	9.05	16.13	21.81	17.39
Total Assets, 3 Yr. CAGR %	1.35	3.16	13.39	17.82	17.31
Tangible Book Value, 3 Yr. CAGR %	4.81	4.89	6.55	10.2	17.76
Common Equity, 3 Yr. CAGR %	4.57	4.62	6.6	10.21	17.79
Cash From Operations, 3 Yr. CAGR %	-10.09	71.15	153.16	72.43	33.05
Capital Expenditures, 3 Yr. CAGR %	-9.95	10.56	49.31	41.36	-1.26
Levered Free Cash Flow, 3 Yr. CAGR %	-41.44	212.87	79.32	28.2	44.74
Unlevered Free Cash Flow, 3 Yr. CAGR %	-42.04	118.95	82.28	27.33	47.29
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.13	-2.29	8.14	6.55	14
Gross Profit, 5 Yr. CAGR %	3	-25.3	27.1	27.6	24.88
EBITDA, 5 Yr. CAGR %	8.06	-32.36	47.53	34.91	29.95
EBITA, 5 Yr. CAGR %	11.79	-1.89	76.33	45.49	35.12
EBIT, 5 Yr. CAGR %	12.4	0.73	85.71	47.27	36.19
Earnings From Cont. Operations, 5 Yr. CAGR %	2.41	-23.23	41.91	62.24	30.85
Net Income, 5 Yr. CAGR %	2.41	-23.23	41.91	62.24	30.85
Normalized Net Income, 5 Yr. CAGR %	2.36	-5.13	58.37	47.41	39.51
Diluted EPS Before Extra, 5 Yr. CAGR %	1.58	-23.58	41.59	61.58	30.67
Accounts Receivable, 5 Yr. CAGR %	-0.8	-1.68	2.42	13.88	34.64
Inventory, 5 Yr. CAGR %	12.81	29.61	16.83	21.17	8.79
Net Property, Plant and Equip., 5 Yr. CAGR %	23.32	18.27	16.85	14.66	15.37
Total Assets, 5 Yr. CAGR %	1.67	3.75	7.8	10.04	13.38
Tangible Book Value, 5 Yr. CAGR %	2.89	2.96	5.17	9.49	11.65
Common Equity, 5 Yr. CAGR %	2.69	2.74	5.11	9.37	11.56
Cash From Operations, 5 Yr. CAGR %	2.82	-8.21	13.01	47.54	123.22
Capital Expenditures, 5 Yr. CAGR %	18.68	11.93	13.39	17.94	15.86
Levered Free Cash Flow, 5 Yr. CAGR %	-1.51	-10.85	14.78	108.58	27.54
Unlevered Free Cash Flow, 5 Yr. CAGR %	-1.04	-11.9	15.12	66.97	29.66