Cash flow Valneva

Equities

VLA

FR0004056851

Biotechnology & Medical Research

Market Closed - Euronext Paris Other stock markets 16:55:00 06/02/2026 GMT			5-day change	1st Jan Change
4.028 ^EUR	-1.27%		+3.60%	+8.34%

02-03	Global markets live: SpaceX, Tesla, Boeing, PayPal, AstraZeneca…
02-03	Valneva, Instituto Butantan Start Pilot Program for Chikungunya Vaccine in Brazil	MT

e1fa9fc635f45265947b6816751592.vZGTR1Bz3WaY16Uf8-gaovnjvqK5bLZcRyQ7YPsShxU.6-OnFjJDngfs4JBIkL90wa3b38n7Bv0mK2dQE58i71zP09YXYgOrXvrk7A

Published financial data: VALNEVA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	110M	62.98M	115M	145M	163M
Other Revenues, Total	-	285M	247M	9.09M	6.32M
Total Revenues	110M	348M	361M	154M	170M
Cost of Goods Sold, Total	139M	361M	429M	161M	173M
Gross Profit	-28.44M	-13.12M	-68.06M	-7.06M	-3.1M
Selling General & Admin Expenses, Total	45.9M	71.61M	57.58M	96.55M	95.11M
Depreciation & Amortization - (IS)	-	-	-	-	-
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-19.22M	-20.78M	-12.04M	-15.14M	-21.15M
Other Operating Expenses, Total	26.68M	50.83M	45.54M	81.41M	73.96M
Operating Income	-55.11M	-63.95M	-114M	-88.47M	-77.06M
Interest Expense, Total	-10.74M	-16.96M	-19.05M	-23.32M	-23.98M
Interest And Investment Income	119K	249K	260K	1.21M	2.36M
Net Interest Expenses	-10.62M	-16.71M	-18.79M	-22.12M	-21.62M
Income (Loss) On Equity Invest.	-133K	-5K	9K	-	-
Currency Exchange Gains (Loss)	173K	8.13M	-12.59M	5.57M	-3.19M
Other Non Operating Income (Expenses)	399K	1K	-	-	-1K
EBT, Excl. Unusual Items	-65.29M	-72.54M	-145M	-105M	-102M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	-	300K	-
Gain (Loss) On Sale Of Assets	-10K	-42K	-38K	1.38M	90.39M
Asset Writedown	-	-	-	-	-
Other Unusual Items	-	2.6M	200K	4.7M	-
EBT, Incl. Unusual Items	-65.3M	-69.98M	-145M	-98.63M	-11.49M
Income Tax Expense	-909K	3.45M	-1.54M	2.8M	761K
Earnings From Continuing Operations	-64.39M	-73.42M	-143M	-101M	-12.25M
Net Income to Company	-64.39M	-73.42M	-143M	-101M	-12.25M
Net Income - (IS)	-64.39M	-73.42M	-143M	-101M	-12.25M
Net Income to Common Incl Extra Items	-64.39M	-73.42M	-143M	-101M	-12.25M
Net Income to Common Excl. Extra Items	-64.39M	-73.42M	-143M	-101M	-12.25M
Per Share Items
Net EPS - Basic	-0.71	-0.75	-1.24	-0.73	-0.08
Basic EPS - Continuing Operations	-0.71	-0.75	-1.24	-0.73	-0.08
Basic Weighted Average Shares Outstanding	90.76M	97.62M	115M	139M	146M
Net EPS - Diluted	-0.71	-0.75	-1.24	-0.73	-0.08
Diluted EPS - Continuing Operations	-0.71	-0.75	-1.24	-0.73	-0.08
Diluted Weighted Average Shares Outstanding	90.76M	97.62M	115M	139M	146M
Normalized Basic EPS	-0.45	-0.46	-0.78	-0.47	-0.44
Normalized Diluted EPS	-0.45	-0.46	-0.78	-0.47	-0.44
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	-51.27M	-56.27M	-99.59M	-76.72M	-62.35M
EBITA	-55.11M	-63.95M	-114M	-88.47M	-77.06M
EBIT	-55.11M	-63.95M	-114M	-88.47M	-77.06M
EBITDAR	-51.17M	-55.91M	-	-	-
Total Revenues (As Reported)	110M	348M	361M	154M	170M
Effective Tax Rate - (Ratio)	1.39	-4.92	1.06	-2.84	-6.63
Total Current Taxes	-40K	51K	932K	1.11M	2.71M
Total Deferred Taxes	-869K	3.4M	-2.47M	1.7M	-1.95M
Normalized Net Income	-40.81M	-45.34M	-90.61M	-65.63M	-63.67M
Interest on Long-Term Debt	907K	903K	955K	1.18M	813K
Non-Cash Pension Expense	0	0	0	0	0
Supplemental Operating Expense Items
Advertising Expense	2.5M	2.18M	7.34M	13.36M	16.78M
Selling and Marketing Expenses	18.26M	23.64M	23.51M	48.75M	52.36M
General and Administrative Expenses	27.54M	47.61M	34.07M	47.8M	42.75M
Research And Development Expense From Footnotes	84.45M	173M	105M	59.89M	74.14M
Net Rental Expense, Total	96K	361K	-	-	-
Imputed Operating Lease Interest Expense	86.51K	445K	-	-	-
Imputed Operating Lease Depreciation	9.49K	-84.14K	-	-	-
Stock-Based Comp., Other (Total)	13.68M	33.76M	-31.59M	3.45M	6.38M
Total Stock-Based Compensation	13.68M	33.76M	-31.59M	3.45M	6.38M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	204M	347M	289M	126M	168M
Total Cash And Short Term Investments	204M	347M	289M	126M	168M
Accounts Receivable, Total	19.23M	44.01M	23.91M	41.64M	35.2M
Total Receivables	19.23M	44.01M	23.91M	41.64M	35.2M
Inventory	26.93M	124M	35.1M	44.47M	53.66M
Restricted Cash	-	-	-	-	-
Other Current Assets, Total	57.83M	71.04M	76.21M	50.63M	41.87M
Total Current Assets	308M	586M	425M	263M	299M
Gross Property Plant And Equipment	111M	215M	221M	229M	253M
Accumulated Depreciation	-33.16M	-41.45M	-67.15M	-72.12M	-95.17M
Net Property Plant And Equipment	78.15M	174M	154M	157M	158M
Long-term Investments	2.13M	2.12M	-	-	-
Other Intangibles, Total	33.67M	31.12M	27.32M	24.33M	24.15M
Deferred Tax Assets Long-Term	5.57M	3.58M	5.64M	6.59M	9.6M
Deferred Charges Long-Term	1.74M	1.58M	1.39M	1.24M	1.1M
Other Long-Term Assets, Total	19.48M	19.28M	8.3M	8.49M	8.04M
Total Assets	449M	817M	621M	460M	500M
Liabilities
Accounts Payable, Total	24.9M	16.04M	14.5M	17.56M	12.64M
Accrued Expenses, Total	24.48M	69.33M	48.31M	46.69M	43.36M
Current Portion of Long-Term Debt	6.99M	7.11M	11.58M	44.08M	20.85M
Current Portion of Leases	2.7M	3.14M	25.41M	2.88M	2.51M
Current Income Taxes Payable	-	83K	532K	632K	1.74M
Unearned Revenue Current, Total	89.58M	124M	9.41M	5.7M	3.01M
Other Current Liabilities	27.23M	149M	168M	41.32M	30.47M
Total Current Liabilities	176M	369M	277M	159M	115M
Long-Term Debt	46.38M	50.73M	87.23M	133M	167M
Long-Term Leases	49.39M	53.69M	28.16M	29.09M	26.43M
Unearned Revenue Non Current	58K	4.74M	-	-	-
Pension & Other Post Retirement Benefits	550K	-	-	-	-
Deferred Tax Liability Non Current	412K	1.29M	694K	3.64M	4.16M
Other Non Current Liabilities	99.08M	167M	8.07M	7.46M	7.08M
Total Liabilities	372M	647M	402M	332M	319M
Common Stock, Total	13.65M	15.79M	20.76M	20.84M	24.38M
Additional Paid In Capital	245M	409M	594M	594M	648M
Retained Earnings	-243M	-316M	-460M	-561M	-573M
Treasury Stock	-898K	-645K	-645K	-645K	-645K
Comprehensive Income and Other	62.71M	62.67M	65.41M	75.25M	83.37M
Total Common Equity	77.42M	171M	220M	128M	181M
Total Equity	77.42M	171M	220M	128M	181M
Total Liabilities And Equity	449M	817M	621M	460M	500M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	90.8M	105M	138M	139M	162M
ECS Total Common Shares Outstanding	90.8M	105M	138M	139M	162M
Book Value / Share	0.85	1.62	1.59	0.92	1.12
Tangible Book Value	43.75M	139M	192M	104M	157M
Tangible Book Value Per Share	0.48	1.33	1.39	0.75	0.97
Total Debt	105M	115M	152M	209M	216M
Net Debt	-98.98M	-232M	-137M	82.74M	48.04M
Debt Equivalent of Unfunded Proj. Benefit Obligation	550K	422K	330K	459K	515K
Debt Equivalent Oper. Leases	768K	2.89M	-	-	-
Equity Method Investments, Total	2.13M	2.12M	-	-	-
Account Code - Inventory Valuation	5	3	3	3	3
Inventories - Raw Materials, Total	-	102M	86.45M	35.38M	28.09M
Inventories - Work In Process, Total	-	55.68M	114M	38.09M	36.83M
Inventories - Finished Goods, Total	-	15.5M	15.3M	16.59M	24.26M
Inventories - Others	34.63M	-	-	-	-
Land - (BS)	24.06M	25.55M	96.53M	126M	151M
Machinery, Total	32.77M	48.78M	81.47M	79.02M	79.5M
Full Time Employees	500	762	719	676	713
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	6K	17K	84K	69K	52K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	-64.39M	-73.42M	-143M	-101M	-12.25M
Depreciation & Amortization - CF	6.31M	10.46M	17.12M	14.32M	1.92M
Depreciation & Amortization, Total	6.31M	10.46M	17.12M	14.32M	1.92M
Amortization of Deferred Charges, Total - (CF)	3.49M	3.82M	3.92M	3.26M	2.96M
(Gain) Loss From Sale Of Asset	10K	46K	38K	568K	-91.1M
Asset Writedown & Restructuring Costs	140K	-	23.25M	-731K	-
(Income) Loss On Equity Investments - (CF)	133K	5K	-9K	-	-
Stock-Based Compensation (CF)	13.68M	33.59M	-31.59M	3.45M	6.38M
Other Operating Activities, Total	12.16M	6.93M	31.19M	22.88M	36.44M
Change In Accounts Receivable	-24.02M	-21.35M	12.4M	-2.86M	15.71M
Change In Inventories	-4.2M	-92.37M	84.22M	-9.16M	-6.8M
Change In Accounts Payable	6.54M	35.24M	-14.05M	-17.4M	-3.32M
Change in Unearned Revenues	88.13M	39.12M	-120M	-3.47M	-2.79M
Change in Other Net Operating Assets	99.76M	135M	-109M	-112M	-14.36M
Cash from Operations	138M	76.9M	-245M	-203M	-67.22M
Capital Expenditure	-18.94M	-92.23M	-29.25M	-14.23M	-13.86M
Sale of Property, Plant, and Equipment	-	-	8K	3.47M	165K
Cash Acquisitions	-	-	-	-10.95M	-
Sale (Purchase) of Intangible assets	-511K	-942K	-76K	-81K	-2.58M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	107K	55K	260K	1.21M	93.2M
Cash from Investing	-19.34M	-93.12M	-29.05M	-20.58M	76.92M
Long-Term Debt Issued, Total	50.27M	859K	39.33M	81.11M	-
Total Debt Issued	50.27M	859K	39.33M	81.11M	-
Long-Term Debt Repaid, Total	-24.11M	-4.76M	-4.84M	-5.22M	-6.49M
Total Debt Repaid	-24.11M	-4.76M	-4.84M	-5.22M	-6.49M
Issuance of Common Stock	290K	167M	190M	-	57.14M
Repurchase of Common Stock	-	-	-	-	-
Other Financing Activities, Total	-4.71M	-8.42M	-9.21M	-12.81M	-19.97M
Cash from Financing	21.74M	155M	215M	63.08M	30.68M
Foreign Exchange Rate Adjustments	-183K	3.96M	-828K	-204K	1.81M
Miscellaneous Cash Flow Adjustments	41K	43K	2.9M	-	-
Net Change in Cash	140M	142M	-57.21M	-160M	42.19M
Supplemental Items
Cash Interest Paid	4.71M	8.42M	9.21M	12.57M	19.97M
Cash Income Tax Paid (Refund)	2.02M	1.63M	154K	1.24M	1.54M
Levered Free Cash Flow	52.8M	-38.31M	-137M	-193M	-83.02M
Unlevered Free Cash Flow	59.51M	-27.7M	-125M	-179M	-68.03M
Change In Net Working Capital	-89.92M	-57.4M	14.42M	130M	14.68M
Net Debt Issued / Repaid	26.16M	-3.9M	34.49M	75.89M	-6.49M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	-9.65	-6.31	-9.87	-10.23	-10.03
Return on Total Capital	-17.08	-17.08	-21.6	-15.59	-13.11
Return On Equity %	-60.58	-59.21	-73.41	-58.29	-7.91
Return on Common Equity	-60.58	-59.21	-73.41	-58.29	-7.91
Margin Analysis
Gross Profit Margin %	-25.77	-3.77	-18.84	-4.59	-1.83
SG&A Margin	41.6	20.57	15.94	62.81	56.08
EBITDA Margin %	-46.47	-16.16	-27.56	-49.91	-36.77
EBITA Margin %	-49.96	-18.37	-31.44	-57.55	-45.44
EBIT Margin %	-49.96	-18.37	-31.44	-57.55	-45.44
Income From Continuing Operations Margin %	-58.37	-21.09	-39.66	-65.99	-7.22
Net Income Margin %	-58.37	-21.09	-39.66	-65.99	-7.22
Net Avail. For Common Margin %	-58.37	-21.09	-39.66	-65.99	-7.22
Normalized Net Income Margin	-36.99	-13.02	-25.08	-42.7	-37.55
Levered Free Cash Flow Margin	47.86	-11	-37.98	-125.66	-48.95
Unlevered Free Cash Flow Margin	53.94	-7.96	-34.68	-116.18	-40.11
Asset Turnover
Asset Turnover	0.31	0.55	0.5	0.28	0.35
Fixed Assets Turnover	1.5	2.76	2.2	0.99	1.08
Receivables Turnover (Average Receivables)	5.1	1.99	3.38	4.41	4.25
Inventory Turnover (Average Inventory)	5.27	4.78	5.39	4.04	3.52
Short Term Liquidity
Current Ratio	1.75	1.59	1.53	1.65	2.61
Quick Ratio	1.27	1.06	1.13	1.06	1.78
Operating Cash Flow to Current Liabilities	0.78	0.21	-0.88	-1.28	-0.59
Days Sales Outstanding (Average Receivables)	71.76	183.26	107.98	82.73	86.15
Days Outstanding Inventory (Average Inventory)	69.51	76.31	67.67	90.33	103.99
Average Days Payable Outstanding	44.16	16.3	16.37	34.4	30.39
Cash Conversion Cycle (Average Days)	97.11	243.27	159.28	138.65	159.75
Long Term Solvency
Total Debt/Equity	136.2	67.21	69.33	162.82	119.34
Total Debt / Total Capital	57.66	40.2	40.94	61.95	54.41
LT Debt/Equity	123.69	61.21	52.5	126.21	106.46
Long-Term Debt / Total Capital	52.37	36.61	31	48.02	48.53
Total Liabilities / Total Assets	82.76	79.13	64.63	72.12	63.75
EBIT / Interest Expense	-5.13	-3.77	-5.96	-3.79	-3.21
EBITDA / Interest Expense	-4.54	-3.15	-5.06	-3.18	-2.52
(EBITDA - Capex) / Interest Expense	-6.31	-8.59	-6.6	-3.79	-3.1
Total Debt / EBITDA	-2.16	-2.14	-1.58	-2.82	-3.58
Net Debt / EBITDA	2.03	4.34	1.42	-1.12	-0.8
Total Debt / (EBITDA - Capex)	-1.56	-0.79	-1.21	-2.36	-2.91
Net Debt / (EBITDA - Capex)	1.46	1.59	1.09	-0.94	-0.65
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-12.58	215.52	3.8	-57.46	10.32
Gross Profit, 1 Yr. Growth %	-180.34	-53.87	418.87	-89.63	-56.03
EBITDA, 1 Yr. Growth %	-1.46K	8.06	77	-22.82	-18.72
EBITA, 1 Yr. Growth %	-4.41K	14.38	77.65	-21.99	-12.9
EBIT, 1 Yr. Growth %	-4.41K	14.38	77.65	-21.99	-12.9
Earnings From Cont. Operations, 1 Yr. Growth %	3.59K	14.03	95.14	-29.21	-87.93
Net Income, 1 Yr. Growth %	3.59K	14.03	95.14	-29.21	-87.93
Normalized Net Income, 1 Yr. Growth %	-5.44K	9.75	99.87	-27.47	-2.98
Diluted EPS Before Extra, 1 Yr. Growth %	3.45K	5.94	64.96	-41.03	-88.51
Accounts Receivable, 1 Yr. Growth %	-19.97	128.85	-45.67	74.16	-15.46
Inventory, 1 Yr. Growth %	4.5	360.77	-71.71	26.67	20.68
Net Property, Plant and Equip., 1 Yr. Growth %	12.71	122.42	-11.39	1.66	0.97
Total Assets, 1 Yr. Growth %	69.67	81.97	-23.98	-25.96	8.69
Tangible Book Value, 1 Yr. Growth %	-54.09	218.76	38.02	-46.01	51.18
Common Equity, 1 Yr. Growth %	-42.72	120.33	28.85	-41.65	41.33
Cash From Operations, 1 Yr. Growth %	2.39K	-44.17	-419.04	-17.36	-66.85
Capital Expenditures, 1 Yr. Growth %	80.31	387.06	-68.29	-51.34	-2.57
Levered Free Cash Flow, 1 Yr. Growth %	-654.7	-173.24	258.17	40.91	-59.49
Unlevered Free Cash Flow, 1 Yr. Growth %	-855.9	-146.95	352.26	42.66	-64.26
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-1.21	66.08	80.97	-33.55	-31.49
Gross Profit, 2 Yr. CAGR %	-18.96	-39.12	54.71	-26.65	-78.65
EBITDA, 2 Yr. CAGR %	136.44	140.7	46.96	24.28	-20.8
EBITA, 2 Yr. CAGR %	196.52	636.17	42.54	24.2	-17.57
EBIT, 2 Yr. CAGR %	196.52	636.17	42.54	17.62	-17.57
Earnings From Cont. Operations, 2 Yr. CAGR %	344.16	548.86	49.17	17.53	-70.76
Net Income, 2 Yr. CAGR %	344.16	548.86	49.17	17.53	-70.76
Normalized Net Income, 2 Yr. CAGR %	340.88	704.05	48.11	20.32	-16.12
Diluted EPS Before Extra, 2 Yr. CAGR %	321.31	513.27	32.2	-1.37	-73.97
Accounts Receivable, 2 Yr. CAGR %	30.7	35.34	11.51	-2.73	21.34
Inventory, 2 Yr. CAGR %	8.86	119.44	14.17	-40.14	23.64
Net Property, Plant and Equip., 2 Yr. CAGR %	43.42	58.34	40.39	-5.09	1.31
Total Assets, 2 Yr. CAGR %	39.77	75.71	17.62	-24.98	-10.29
Tangible Book Value, 2 Yr. CAGR %	-33.97	20.98	109.75	-13.68	-9.66
Common Equity, 2 Yr. CAGR %	-26.47	12.34	68.49	-13.29	-9.19
Cash From Operations, 2 Yr. CAGR %	190.64	272.94	33.46	62.37	-47.66
Capital Expenditures, 2 Yr. CAGR %	156.69	196.35	24.28	-60.72	-31.15
Levered Free Cash Flow, 2 Yr. CAGR %	98.64	99.68	61.97	124.55	-27.54
Unlevered Free Cash Flow, 2 Yr. CAGR %	94.39	86.54	45.71	153.88	-31.79
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	1.57	45.49	42	11.69	-21.31
Gross Profit, 3 Yr. CAGR %	-7.52	-32.84	24.35	-37.16	-38.16
EBITDA, 3 Yr. CAGR %	157.95	83.07	117.26	18.49	7.88
EBITA, 3 Yr. CAGR %	422.21	116.89	358.32	16.53	10.35
EBIT, 3 Yr. CAGR %	422.21	116.89	358.32	16.53	6.41
Earnings From Cont. Operations, 3 Yr. CAGR %	77.67	182.29	334.72	16.35	-44.95
Net Income, 3 Yr. CAGR %	77.67	182.29	334.72	16.35	-44.95
Normalized Net Income, 3 Yr. CAGR %	93.64	178.47	405.56	16.69	11.99
Diluted EPS Before Extra, 3 Yr. CAGR %	67.9	165.92	295.88	1.01	-51.83
Accounts Receivable, 3 Yr. CAGR %	2.96	57.53	-0.16	29.37	-7.17
Inventory, 3 Yr. CAGR %	10.56	76.09	10.85	18.19	-24.38
Net Property, Plant and Equip., 3 Yr. CAGR %	26.76	66.01	30.48	26.07	-3.11
Total Assets, 3 Yr. CAGR %	33.37	52.62	32.9	0.8	-15.11
Tangible Book Value, 3 Yr. CAGR %	-2.17	11.59	26.41	33.42	4.05
Common Equity, 3 Yr. CAGR %	-5.82	6.01	17.6	18.32	2.04
Cash From Operations, 3 Yr. CAGR %	120.61	67.7	254.03	13.75	-4.39
Capital Expenditures, 3 Yr. CAGR %	87.12	217.78	40.69	-9.08	-46.83
Levered Free Cash Flow, 3 Yr. CAGR %	71.45	41.99	142.62	54.57	29.41
Unlevered Free Cash Flow, 3 Yr. CAGR %	63.41	20.71	150.6	44.64	34.91
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	5.77	28.88	27.97	6.34	6.09
Gross Profit, 5 Yr. CAGR %	20.91	-15.38	13.61	-30.43	-38.54
EBITDA, 5 Yr. CAGR %	26.14	66.36	101.65	52.93	45.05
EBITA, 5 Yr. CAGR %	22.52	50.31	211.56	69.8	130.67
EBIT, 5 Yr. CAGR %	22.52	50.31	211.56	69.8	130.67
Earnings From Cont. Operations, 5 Yr. CAGR %	25.58	8.34	65.67	98.83	47.67
Net Income, 5 Yr. CAGR %	25.58	8.34	65.67	98.83	47.67
Normalized Net Income, 5 Yr. CAGR %	14.21	37.81	74.38	99.07	146.38
Diluted EPS Before Extra, 5 Yr. CAGR %	20.16	2.69	52.59	78.84	33.26
Accounts Receivable, 5 Yr. CAGR %	4.07	21.08	6.29	29.9	7.94
Inventory, 5 Yr. CAGR %	0.18	40.46	11.99	14.37	15.8
Net Property, Plant and Equip., 5 Yr. CAGR %	12.99	34.81	32.04	32.74	17.92
Total Assets, 5 Yr. CAGR %	10.29	31.62	26.83	14.88	13.56
Tangible Book Value, 5 Yr. CAGR %	-2.63	25.73	32.73	0.7	10.52
Common Equity, 5 Yr. CAGR %	-11.71	11.26	18.86	-2.18	6.05
Cash From Operations, 5 Yr. CAGR %	47.35	63.88	80.43	65.55	64.8
Capital Expenditures, 5 Yr. CAGR %	59.16	120.79	58.87	37.7	5.71
Levered Free Cash Flow, 5 Yr. CAGR %	0.81	11.02	67.27	70.56	53.93
Unlevered Free Cash Flow, 5 Yr. CAGR %	5.92	0.88	55.82	62.52	53.58