Cash flow LVMH

Equities

MC

FR0000121014

Apparel & Accessories

Market Closed - Euronext Paris Other stock markets 01:55:00 18/04/26 am AEST			5-day change	1st Jan Change
499.40 ^EUR	+3.17%		+3.33%	-22.57%

17/04	Rocky start for the luxury sector earnings season
17/04	LVMH : Bernstein reaffirms its Buy rating	ZD

071d244.Zk02aNwq-3tYCRT6z_Nq3_DQmIpq3B0s1DJC23yWakM.Pyt1XbATqhkTOVW-hpYJ7JuozdVYri98vXwkiirHBXclB04an0izHyxfTQ

Published financial data: LVMH

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	64.22B	79.18B	86.15B	84.68B	80.81B
Total Revenues	64.22B	79.18B	86.15B	84.68B	80.81B
Cost of Goods Sold, Total	20.36B	24.99B	26.88B	27.92B	27.28B
Gross Profit	43.86B	54.2B	59.28B	56.76B	53.53B
Selling General & Admin Expenses, Total	26.72B	33.18B	36.48B	37.22B	35.85B
Other Operating Expenses	-	-	-	-36M	12M
Other Operating Expenses, Total	26.72B	33.18B	36.48B	37.19B	35.86B
Operating Income	17.14B	21.02B	22.8B	19.58B	17.67B
Interest Expense, Total	-242M	-382M	-973M	-1.19B	-1.15B
Interest And Investment Income	50M	121M	217M	240M	270M
Net Interest Expenses	-192M	-261M	-756M	-946M	-881M
Income (Loss) On Equity Invest.	13M	37M	7M	28M	75M
Currency Exchange Gains (Loss)	-206M	-358M	-399M	-282M	-306M
Other Non Operating Income (Expenses)	-48M	-44M	-43M	-45M	-49M
EBT, Excl. Unusual Items	16.7B	20.39B	21.6B	18.33B	16.51B
Restructuring Charges	-	3M	-9M	-70M	-50M
Merger & Related Restructuring Charges	-18M	-25M	-14M	-10M	-2M
Impairment of Goodwill	-78M	-27M	-	-12M	-135M
Gain (Loss) On Sale Of Investments	618M	7M	265M	482M	835M
Gain (Loss) On Sale Of Assets	9M	-210M	-102M	-199M	127M
Asset Writedown	-11M	-23M	-105M	-410M	-584M
Other Unusual Items	-17M	-4M	-14M	-	-
EBT, Incl. Unusual Items	17.21B	20.11B	21.62B	18.12B	16.7B
Income Tax Expense	4.51B	5.36B	5.67B	5.16B	5.48B
Earnings From Continuing Operations	12.7B	14.75B	15.95B	12.96B	11.22B
Net Income to Company	12.7B	14.75B	15.95B	12.96B	11.22B
Minority Interest	-662M	-667M	-778M	-408M	-344M
Net Income - (IS)	12.04B	14.08B	15.17B	12.55B	10.88B
Net Income to Common Incl Extra Items	12.04B	14.08B	15.17B	12.55B	10.88B
Net Income to Common Excl. Extra Items	12.04B	14.08B	15.17B	12.55B	10.88B
Per Share Items
Net EPS - Basic	23.9	28.05	30.34	25.13	21.86
Basic EPS - Continuing Operations	23.9	28.05	30.34	25.13	21.86
Basic Weighted Average Shares Outstanding	504M	502M	500M	499M	498M
Net EPS - Diluted	23.89	28.03	30.33	25.12	21.85
Diluted EPS - Continuing Operations	23.89	28.03	30.33	25.12	21.85
Diluted Weighted Average Shares Outstanding	504M	502M	500M	500M	498M
Normalized Basic EPS	19.42	24.05	25.45	22.13	20.04
Normalized Diluted EPS	19.41	24.04	25.43	22.12	20.03
Dividend Per Share	10	12	13	13	13
Payout Ratio	29.3	42.77	41.2	51.73	59.43
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	19.9B	23.91B	25.27B	22.43B	20.59B
EBITA	17.3B	21.17B	23.06B	19.88B	17.88B
EBIT	17.14B	21.02B	22.8B	19.58B	17.67B
EBITDAR	22.11B	26.81B	28.61B	25.52B	23.42B
Effective Tax Rate - (Ratio)	26.21	26.66	26.23	28.47	32.79
Total Current Taxes	5.34B	5.9B	6.05B	5.42B	4.86B
Total Deferred Taxes	-826M	-534M	-378M	-259M	622M
Normalized Net Income	9.78B	12.08B	12.72B	11.05B	9.97B
Interest on Long-Term Debt	242M	254M	393M	510M	553M
Non-Cash Pension Expense	15M	21M	28M	40M	27M
Supplemental Operating Expense Items
Advertising Expense	7.29B	9.58B	10.22B	9.76B	9.21B
Selling and Marketing Expenses	22.31B	28.15B	30.77B	31B	29.91B
General and Administrative Expenses	4.41B	5.03B	5.71B	6.22B	5.93B
Research And Development Expense From Footnotes	147M	172M	-	-	-
Net Rental Expense, Total	2.21B	2.9B	3.34B	3.09B	2.83B
Imputed Operating Lease Interest Expense	119M	254M	696M	730M	667M
Imputed Operating Lease Depreciation	2.09B	2.65B	2.64B	2.36B	2.16B
Stock-Based Comp., Other (Total)	132M	132M	117M	191M	165M
Total Stock-Based Compensation	132M	132M	117M	191M	165M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	8.02B	7.3B	7.77B	9.63B	8.79B
Short Term Investments	2.54B	3.55B	3.49B	3.96B	4.71B
Trading Asset Securities, Total	31M	34M	23M	23M	19M
Total Cash And Short Term Investments	10.6B	10.89B	11.29B	13.61B	13.52B
Accounts Receivable, Total	3.79B	4.26B	4.73B	4.73B	4.33B
Other Receivables	2.32B	2.85B	3.22B	4.05B	3.15B
Total Receivables	6.11B	7.11B	7.94B	8.78B	7.49B
Inventory	16.55B	20.32B	22.95B	23.67B	22.66B
Prepaid Expenses	503M	613M	681M	839M	727M
Other Current Assets, Total	542M	814M	846M	578M	3.79B
Total Current Assets	34.3B	39.74B	43.71B	47.47B	48.18B
Gross Property Plant And Equipment	56.68B	63.95B	71.45B	79.27B	75.96B
Accumulated Depreciation	-22.78B	-26.28B	-28.44B	-32.77B	-31.38B
Net Property Plant And Equipment	33.9B	37.67B	43.01B	46.51B	44.59B
Long-term Investments	2.45B	2.18B	2.36B	2.98B	3.11B
Goodwill	25.9B	24.78B	24.02B	20.31B	18.32B
Other Intangibles, Total	24.55B	25.43B	25.59B	26.28B	23.13B
Loans Receivable Long-Term	413M	444M	243M	271M	222M
Deferred Tax Assets Long-Term	3.16B	3.66B	3.99B	4.54B	3.74B
Other Long-Term Assets, Total	637M	742M	772M	831M	758M
Total Assets	125B	135B	144B	149B	142B
Liabilities
Accounts Payable, Total	7.09B	8.79B	9.05B	8.63B	8.22B
Accrued Expenses, Total	3.59B	3.99B	4.4B	4.71B	4.24B
Short-term Borrowings	4.63B	7.65B	7.7B	7.96B	6.02B
Current Portion of Long-Term Debt	3.45B	1.73B	3B	2.9B	1.91B
Current Portion of Leases	2.39B	2.63B	3.16B	3.4B	3B
Current Income Taxes Payable	1.27B	1.21B	1.15B	1.23B	828M
Unearned Revenue Current, Total	1.48B	1.68B	1.46B	2.17B	2.14B
Other Current Liabilities	4.11B	3.86B	3.23B	2.69B	4.04B
Total Current Liabilities	27.99B	31.54B	33.14B	33.7B	30.42B
Long-Term Debt	12.19B	10.54B	11.33B	12.18B	12.46B
Long-Term Leases	11.89B	12.78B	13.81B	14.86B	13.38B
Pension & Other Post Retirement Benefits	915M	622M	609M	650M	627M
Deferred Tax Liability Non Current	6.7B	6.95B	7.01B	7.34B	6.99B
Other Non Current Liabilities	16.72B	15.61B	15.09B	11.18B	9.21B
Total Liabilities	76.4B	78.04B	80.99B	79.9B	73.09B
Common Stock, Total	152M	151M	151M	150M	149M
Additional Paid In Capital	2.22B	1.29B	530M	53M	-
Retained Earnings	12.04B	14.08B	15.17B	12.55B	10.88B
Treasury Stock	-912M	-1.29B	-1.95B	-603M	-759M
Comprehensive Income and Other	33.62B	40.88B	47.12B	55.37B	57.2B
Total Common Equity	47.12B	55.11B	61.02B	67.52B	67.47B
Minority Interest	1.79B	1.49B	1.68B	1.77B	1.48B
Total Equity	48.91B	56.6B	62.7B	69.29B	68.95B
Total Liabilities And Equity	125B	135B	144B	149B	142B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	504M	501M	500M	499M	496M
ECS Total Common Shares Outstanding	504M	501M	500M	499M	496M
Book Value / Share	93.58	109.99	122.15	135.2	135.93
Tangible Book Value	-3.34B	4.9B	11.41B	20.93B	26.03B
Tangible Book Value Per Share	-6.63	9.77	22.83	41.91	52.43
Total Debt	34.54B	35.32B	39B	41.3B	36.78B
Net Debt	23.95B	24.44B	27.71B	27.7B	23.26B
Debt Equivalent of Unfunded Proj. Benefit Obligation	696M	462M	454M	468M	458M
Debt Equivalent Oper. Leases	17.66B	23.22B	26.69B	24.73B	22.62B
Minority Interest, Total (Incl. Fin. Div)	1.79B	1.49B	1.68B	1.77B	1.48B
Equity Method Investments, Total	1.08B	1.07B	991M	1.34B	1.21B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Raw Materials, Total	3.6B	4.98B	5.45B	5.35B	5.2B
Inventories - Work In Process, Total	5.46B	5.96B	6.63B	7.09B	7.59B
Inventories - Finished Goods, Total	10.02B	12.11B	14.04B	14.84B	13.51B
Land - (BS)	7.56B	8.39B	19.38B	20.73B	20.2B
Buildings, Total	6.7B	7.67B	-	-	-
Full Time Employees	158K	173K	192K	201K	197K
Part Time Employees	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	127M	111M	115M	125M	134M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	12.04B	14.08B	15.17B	12.55B	10.88B
Depreciation & Amortization - CF	5.3B	5.74B	5.26B	5.74B	5.87B
Amortization of Goodwill and Intangible Assets - (CF)	157M	156M	266M	303M	216M
Depreciation & Amortization, Total	5.46B	5.9B	5.52B	6.04B	6.09B
Amortization of Deferred Charges, Total - (CF)	372M	329M	454M	511M	534M
Asset Writedown & Restructuring Costs	-	-	-15M	42M	621M
(Income) Loss On Equity Investments - (CF)	41M	26M	42M	29M	13M
Other Operating Activities, Total	315M	516M	1.8B	1.68B	1.32B
Change In Accounts Receivable	-613M	-394M	-695M	137M	213M
Change In Inventories	-1.57B	-4.17B	-4.23B	-1.11B	-1.32B
Change In Accounts Payable	1.58B	1.53B	434M	-664M	215M
Change in Unearned Revenues	27M	6M	24M	106M	9M
Change in Other Net Operating Assets	1B	6M	-110M	-390M	302M
Cash from Operations	18.65B	17.83B	18.4B	18.92B	18.87B
Capital Expenditure	-2.68B	-4.4B	-6.81B	-4.72B	-3.85B
Sale of Property, Plant, and Equipment	444M	73M	136M	21M	38M
Cash Acquisitions	-13.23B	-809M	-721M	-438M	-
Divestitures	-	-	-	-	149M
Sale (Purchase) of Real Estate properties	-	-	-	-	-5M
Sale (Purchase) of Intangible assets	-580M	-685M	-1B	-837M	-819M
Investment in Marketable and Equity Securities, Total	-99M	-149M	-116M	-579M	-243M
Other Investing Activities, Total	157M	47M	198M	9M	86M
Cash from Investing	-15.98B	-5.92B	-8.31B	-6.54B	-4.64B
Long-Term Debt Issued, Total	251M	3.77B	5.99B	3.6B	2.1B
Total Debt Issued	251M	3.77B	5.99B	3.6B	2.1B
Long-Term Debt Repaid, Total	-8.87B	-6.64B	-6.79B	-6.59B	-7.2B
Total Debt Repaid	-8.87B	-6.64B	-6.79B	-6.59B	-7.2B
Issuance of Common Stock	-	-	-	53M	-
Repurchase of Common Stock	-556M	-1.62B	-1.58B	-312M	-1.64B
Common Dividends Paid	-3.53B	-6.02B	-6.25B	-6.49B	-6.46B
Common & Preferred Stock Dividends Paid	-3.53B	-6.02B	-6.25B	-6.49B	-6.46B
Other Financing Activities, Total	-2.46B	-2.18B	-766M	-969M	-1.68B
Cash from Financing	-15.16B	-12.68B	-9.4B	-10.72B	-14.9B
Foreign Exchange Rate Adjustments	498M	55M	-273M	80M	-248M
Net Change in Cash	-11.99B	-717M	420M	1.75B	-910M
Supplemental Items
Cash Interest Paid	231M	240M	356M	483M	545M
Cash Income Tax Paid (Refund)	4.46B	5.93B	6.11B	5.79B	4.9B
Levered Free Cash Flow	13.8B	11.04B	8.43B	11.39B	11.7B
Unlevered Free Cash Flow	13.96B	11.27B	9.04B	12.13B	12.42B
Change In Net Working Capital	-537M	3.14B	3.49B	1.3B	748M
Net Debt Issued / Repaid	-8.62B	-2.87B	-796M	-3B	-5.11B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	9.16	10.11	10.24	8.36	7.58
Return on Total Capital	13.4	14.98	14.69	11.53	10.21
Return On Equity %	28.95	27.96	26.74	19.64	16.24
Return on Common Equity	28.48	27.55	26.13	19.53	16.12
Margin Analysis
Gross Profit Margin %	68.3	68.44	68.8	67.03	66.24
SG&A Margin	41.61	41.9	42.35	43.95	44.36
EBITDA Margin %	31	30.19	29.33	26.49	25.48
EBITA Margin %	26.93	26.74	26.77	23.48	22.13
EBIT Margin %	26.69	26.54	26.46	23.12	21.86
Income From Continuing Operations Margin %	19.77	18.63	18.52	15.3	13.89
Net Income Margin %	18.74	17.79	17.61	14.82	13.46
Net Avail. For Common Margin %	18.74	17.79	17.61	14.82	13.46
Normalized Net Income Margin	15.23	15.25	14.77	13.05	12.34
Levered Free Cash Flow Margin	21.5	13.94	9.78	13.45	14.48
Unlevered Free Cash Flow Margin	21.73	14.24	10.49	14.32	15.37
Asset Turnover
Asset Turnover	0.55	0.61	0.62	0.58	0.55
Fixed Assets Turnover	1.99	2.21	2.14	1.89	1.77
Receivables Turnover (Average Receivables)	19.63	19.69	19.17	17.91	17.83
Inventory Turnover (Average Inventory)	1.38	1.36	1.24	1.2	1.18
Short Term Liquidity
Current Ratio	1.23	1.26	1.32	1.41	1.58
Quick Ratio	0.6	0.57	0.58	0.66	0.69
Operating Cash Flow to Current Liabilities	0.67	0.57	0.56	0.56	0.62
Days Sales Outstanding (Average Receivables)	18.6	18.54	19.04	20.44	20.47
Days Outstanding Inventory (Average Inventory)	265.08	269.27	293.83	305.6	309.94
Average Days Payable Outstanding	93.08	100.74	110.31	112.98	117.08
Cash Conversion Cycle (Average Days)	190.59	187.07	202.55	213.05	213.32
Long Term Solvency
Total Debt/Equity	70.63	62.41	62.19	59.61	53.34
Total Debt / Total Capital	41.39	38.43	38.35	37.35	34.79
LT Debt/Equity	49.23	41.19	40.09	39.02	37.48
Long-Term Debt / Total Capital	28.85	25.36	24.72	24.45	24.44
Total Liabilities / Total Assets	60.97	57.96	56.36	53.56	51.46
EBIT / Interest Expense	70.82	55.02	23.43	16.51	15.35
EBITDA / Interest Expense	93.37	70.46	29.1	21.6	20.64
(EBITDA - Capex) / Interest Expense	82.32	58.95	22.11	17.62	17.3
Total Debt / EBITDA	1.53	1.31	1.38	1.61	1.55
Net Debt / EBITDA	1.06	0.91	0.98	1.08	0.98
Total Debt / (EBITDA - Capex)	1.73	1.57	1.81	1.98	1.85
Net Debt / (EBITDA - Capex)	1.2	1.09	1.29	1.32	1.17
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	43.82	23.31	8.8	-1.71	-4.58
Gross Profit, 1 Yr. Growth %	52.4	23.57	9.38	-4.24	-5.7
EBITDA, 1 Yr. Growth %	73.15	20.11	8.67	-11.19	-8.22
EBITA, 1 Yr. Growth %	103.4	22.43	8.79	-13.73	-10.04
EBIT, 1 Yr. Growth %	105.32	22.64	8.45	-14.06	-9.76
Earnings From Cont. Operations, 1 Yr. Growth %	156.27	16.17	8.14	-18.77	-13.4
Net Income, 1 Yr. Growth %	155.98	17.02	7.74	-17.29	-13.32
Normalized Net Income, 1 Yr. Growth %	114.44	23.51	5.35	-13.09	-9.75
Diluted EPS Before Extra, 1 Yr. Growth %	156.33	17.33	8.21	-17.18	-13.02
Accounts Receivable, 1 Yr. Growth %	37.41	12.44	11.04	0.04	-8.41
Inventory, 1 Yr. Growth %	27.14	22.78	12.96	3.12	-4.27
Net Property, Plant and Equip., 1 Yr. Growth %	10.26	11.13	14.18	8.13	-4.12
Total Assets, 1 Yr. Growth %	15.31	7.45	6.72	3.82	-4.79
Tangible Book Value, 1 Yr. Growth %	-176.55	-246.79	132.92	83.5	24.36
Common Equity, 1 Yr. Growth %	25.95	16.96	10.72	10.65	-0.07
Cash From Operations, 1 Yr. Growth %	71.13	-4.37	3.18	2.85	-0.26
Capital Expenditures, 1 Yr. Growth %	34.9	64.37	54.81	-30.73	-18.43
Levered Free Cash Flow, 1 Yr. Growth %	50.34	-20.06	-19.55	35.21	2.72
Unlevered Free Cash Flow, 1 Yr. Growth %	48.29	-19.21	-15.67	34.32	2.38
Dividend Per Share, 1 Yr. Growth %	66.67	20	8.33	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	9.38	33.17	15.83	3.41	-3.15
Gross Profit, 2 Yr. CAGR %	11.08	37.23	16.25	2.34	-4.97
EBITDA, 2 Yr. CAGR %	19.63	44.21	14.76	-1.78	-9.72
EBITA, 2 Yr. CAGR %	21.94	57.8	15.47	-3.14	-11.91
EBIT, 2 Yr. CAGR %	22.2	58.68	15.33	-3.47	-11.93
Earnings From Cont. Operations, 2 Yr. CAGR %	27.74	72.54	12.08	-6.27	-16.13
Net Income, 2 Yr. CAGR %	29.55	73.07	12.28	-5.6	-15.33
Normalized Net Income, 2 Yr. CAGR %	25.81	62.75	14.07	-4.34	-11.44
Diluted EPS Before Extra, 2 Yr. CAGR %	29.57	73.42	12.68	-5.33	-15.12
Accounts Receivable, 2 Yr. CAGR %	4.77	24.3	11.74	5.4	-4.28
Inventory, 2 Yr. CAGR %	9.84	24.94	17.77	7.93	-0.64
Net Property, Plant and Equip., 2 Yr. CAGR %	4.67	10.69	12.64	11.11	1.82
Total Assets, 2 Yr. CAGR %	13.95	11.31	7.08	5.26	-0.58
Tangible Book Value, 2 Yr. CAGR %	-0.06	6	84.91	106.74	51.06
Common Equity, 2 Yr. CAGR %	13.49	21.37	13.8	10.68	5.16
Cash From Operations, 2 Yr. CAGR %	26.53	27.93	-0.67	3.01	1.28
Capital Expenditures, 2 Yr. CAGR %	-3.29	48.91	59.52	3.55	-24.83
Levered Free Cash Flow, 2 Yr. CAGR %	32.28	9.62	-18.73	4.3	17.85
Unlevered Free Cash Flow, 2 Yr. CAGR %	30.71	9.45	-16.34	6.43	17.26
Dividend Per Share, 2 Yr. CAGR %	44.34	41.42	14.02	4.08	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	11.1	13.84	24.49	9.66	0.68
Gross Profit, 3 Yr. CAGR %	12.02	15.09	27.23	8.98	-0.41
EBITDA, 3 Yr. CAGR %	19.37	19.79	30.02	5.34	-3.97
EBITA, 3 Yr. CAGR %	19.28	22.1	39.46	4.76	-5.5
EBIT, 3 Yr. CAGR %	19.82	22.35	39.78	4.54	-5.62
Earnings From Cont. Operations, 3 Yr. CAGR %	22.02	23.76	47.66	0.68	-8.71
Net Income, 3 Yr. CAGR %	23.73	25.23	47.78	1.4	-8.25
Normalized Net Income, 3 Yr. CAGR %	21.66	25.04	40.78	4.16	-6.18
Diluted EPS Before Extra, 3 Yr. CAGR %	23.74	25.35	48.19	1.69	-7.97
Accounts Receivable, 3 Yr. CAGR %	5.53	7.27	19.71	7.69	0.58
Inventory, 3 Yr. CAGR %	9.85	13.99	20.81	12.67	3.7
Net Property, Plant and Equip., 3 Yr. CAGR %	30.9	6.78	11.84	11.12	5.78
Total Assets, 3 Yr. CAGR %	19.03	11.74	9.76	5.99	1.8
Tangible Book Value, 3 Yr. CAGR %	36.49	13.6	37.81	84.44	74.52
Common Equity, 3 Yr. CAGR %	13.42	14.63	17.71	12.74	6.98
Cash From Operations, 3 Yr. CAGR %	29.99	15.25	19.08	0.49	1.91
Capital Expenditures, 3 Yr. CAGR %	1.08	15.42	50.85	20.8	-4.36
Levered Free Cash Flow, 3 Yr. CAGR %	41.04	11.84	-2.81	-3.73	3.77
Unlevered Free Cash Flow, 3 Yr. CAGR %	40.62	11.34	-1.34	-2.07	5.06
Dividend Per Share, 3 Yr. CAGR %	18.56	35.72	29.4	9.14	2.7
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.3	13.18	12.97	9.55	12.6
Gross Profit, 5 Yr. CAGR %	12.3	14.24	13.7	9.81	13.21
EBITDA, 5 Yr. CAGR %	18.65	19.25	16.65	10.03	12.36
EBITA, 5 Yr. CAGR %	19.18	20.05	17.74	11.32	16.03
EBIT, 5 Yr. CAGR %	19.61	20.51	18	11.28	16.18
Earnings From Cont. Operations, 5 Yr. CAGR %	23.32	20.36	17.94	10.74	17.76
Net Income, 5 Yr. CAGR %	24.24	21.29	19.02	11.84	18.26
Normalized Net Income, 5 Yr. CAGR %	20.98	21.89	18.57	12.33	16.94
Diluted EPS Before Extra, 5 Yr. CAGR %	24.27	21.38	19.19	12.04	18.58
Accounts Receivable, 5 Yr. CAGR %	7.12	9.25	7.97	6.51	9.47
Inventory, 5 Yr. CAGR %	9.43	13.29	12.95	11.53	11.73
Net Property, Plant and Equip., 5 Yr. CAGR %	22.8	22.13	23.27	8.49	7.72
Total Assets, 5 Yr. CAGR %	16.02	14.06	14.1	9.1	5.5
Tangible Book Value, 5 Yr. CAGR %	4.7	21.82	54.11	44.35	42.97
Common Equity, 5 Yr. CAGR %	12.29	13.73	13.57	13.04	12.52
Cash From Operations, 5 Yr. CAGR %	24.73	20.66	16.73	10.19	11.61
Capital Expenditures, 5 Yr. CAGR %	3.42	13.85	21.32	10.52	14.17
Levered Free Cash Flow, 5 Yr. CAGR %	30.8	20.16	11.37	7.62	4.96
Unlevered Free Cash Flow, 5 Yr. CAGR %	30.38	20.1	12.48	8.23	5.7
Dividend Per Share, 5 Yr. CAGR %	20.11	19.14	16.72	22.05	16.72