Balance Sheet Edwards Lifesciences Corporation

Equities

EW

US28176E1082

Advanced Medical Equipment & Technology

Market Closed - Nyse Other stock markets 05:00:02 17/01/2026 HKT			5-day change	1st Jan Change
84.35 ^USD	-0.17%		-0.27%	-1.06%

01-13	Edwards Lifesciences Corporation Presents at 44th Annual J.P. Morgan Healthcare Conference, Jan-12-2026 11:15 AM
01-12	UBS Adjusts Price Target on Edwards Lifesciences to $95 From $92, Maintains Neutral Rating	MT

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Published financial data: EDWARDS LIFESCIENCES CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	4.39B	5.23B	5.38B	6B	5.44B
Total Revenues	4.39B	5.23B	5.38B	6B	5.44B
Cost of Goods Sold, Total	1.08B	1.25B	1.08B	1.38B	1.12B
Gross Profit	3.31B	3.98B	4.3B	4.62B	4.32B
Selling General & Admin Expenses, Total	1.23B	1.49B	1.57B	1.82B	1.79B
R&D Expenses	761M	903M	945M	1.07B	1.05B
Other Operating Expenses	-	-	-	-	-300K
Other Operating Expenses, Total	1.99B	2.4B	2.51B	2.9B	2.84B
Operating Income	1.32B	1.59B	1.79B	1.73B	1.48B
Interest Expense, Total	-15.8M	-18.4M	-19.2M	-17.6M	-19.8M
Interest And Investment Income	23.4M	17.4M	35.5M	67.2M	120M
Net Interest Expenses	7.6M	-1M	16.3M	49.6M	100M
Income (Loss) On Equity Invest.	900K	14.4M	17.7M	-	-
Currency Exchange Gains (Loss)	12.3M	5M	-1.2M	10.5M	7.1M
Other Non Operating Income (Expenses)	-1M	2.2M	-	11.5M	6.8M
EBT, Excl. Unusual Items	1.34B	1.61B	1.82B	1.8B	1.6B
Restructuring Charges	-	-	-62.3M	-	-61M
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-300K	-8.6M	-18.8M	-8.8M	54.4M
Asset Writedown	-	-	-	-	-
In Process R&D Expenses	-	-	-	-	-
Insurance Settlements	-	-	3.8M	-	-
Legal Settlements	-405M	-20.6M	-15.8M	-204M	-40.4M
Other Unusual Items	-13.6M	124M	35.8M	9M	-
EBT, Incl. Unusual Items	917M	1.7B	1.77B	1.6B	1.55B
Income Tax Expense	93.3M	199M	246M	199M	152M
Earnings From Continuing Operations	823M	1.5B	1.52B	1.4B	1.4B
Earnings Of Discontinued Operations	-	-	-	-	2.77B
Net Income to Company	823M	1.5B	1.52B	1.4B	4.17B
Minority Interest	-	-	-	3M	4.9M
Net Income - (IS)	823M	1.5B	1.52B	1.4B	4.17B
Net Income to Common Incl Extra Items	823M	1.5B	1.52B	1.4B	4.17B
Net Income to Common Excl. Extra Items	823M	1.5B	1.52B	1.4B	1.4B
Per Share Items
Net EPS - Basic	1.32	2.41	2.46	2.31	6.98
Basic EPS - Continuing Operations	1.32	2.41	2.46	2.31	2.34
Basic Weighted Average Shares Outstanding	623M	623M	619M	607M	598M
Net EPS - Diluted	1.3	2.38	2.44	2.3	6.97
Diluted EPS - Continuing Operations	1.3	2.38	2.44	2.3	2.34
Diluted Weighted Average Shares Outstanding	632M	631M	624M	609M	599M
Normalized Basic EPS	1.34	1.61	1.84	1.86	1.68
Normalized Diluted EPS	1.32	1.59	1.83	1.85	1.67
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
EBITDA	1.42B	1.72B	1.93B	1.87B	1.64B
EBITA	1.32B	1.59B	1.8B	1.74B	1.49B
EBIT	1.32B	1.59B	1.79B	1.73B	1.48B
EBITDAR	1.45B	1.75B	1.96B	1.9B	1.66B
Effective Tax Rate - (Ratio)	10.18	11.69	13.89	12.43	9.82
Total Current Taxes	146M	243M	496M	461M	315M
Total Deferred Taxes	-52.2M	-44M	-251M	-262M	-163M
Normalized Net Income	835M	1B	1.14B	1.13B	1B
Interest on Long-Term Debt	15.8M	18.4M	19.2M	17.6M	19.8M
Non-Cash Pension Expense	400K	300K	-1.1M	-1.2M	-600K
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	761M	903M	973M	1.07B	1.05B
Net Rental Expense, Total	30.5M	29.7M	28.8M	30.1M	28.1M
Imputed Operating Lease Interest Expense	5.61M	6.31M	6.4M	6.11M	6.43M
Imputed Operating Lease Depreciation	24.89M	23.39M	22.4M	23.99M	21.67M
Maintenance & Repair Expenses, Total	-	-	-	-	-
Stock-Based Comp., COGS (Total)	17.2M	20.4M	22.8M	23.6M	26.7M
Stock-Based Comp., R&D Exp. (Total)	18.8M	23.3M	28.7M	33.4M	36.4M
Stock-Based Comp., SG&A Exp. (Total)	56.6M	65.6M	75.3M	82.4M	82.5M
Stock-Based Comp., Other (Total)	-	-	-	-	16.7M
Total Stock-Based Compensation	92.6M	109M	127M	139M	162M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	1.18B	863M	769M	1.14B	3.05B
Short Term Investments	219M	604M	446M	500M	931M
Total Cash And Short Term Investments	1.4B	1.47B	1.22B	1.64B	3.98B
Accounts Receivable, Total	515M	582M	643M	775M	609M
Other Receivables	88.2M	82.7M	56.1M	61.8M	118M
Total Receivables	603M	665M	699M	837M	727M
Inventory	802M	727M	876M	1.17B	1.09B
Prepaid Expenses	75.1M	85.2M	110M	147M	121M
Restricted Cash	16.6M	1.5M	500K	3.3M	3.2M
Other Current Assets, Total	192M	236M	195M	236M	371M
Total Current Assets	3.09B	3.18B	3.1B	4.04B	6.29B
Gross Property Plant And Equipment	2.09B	2.29B	2.48B	2.7B	2.58B
Accumulated Depreciation	-598M	-655M	-750M	-857M	-794M
Net Property Plant And Equipment	1.49B	1.64B	1.73B	1.84B	1.78B
Long-term Investments	802M	1.83B	1.24B	584M	308M
Goodwill	1.17B	1.17B	1.16B	1.25B	1.78B
Other Intangibles, Total	331M	324M	285M	428M	1.18B
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	-	-	-	-	129M
Deferred Tax Assets Long-Term	231M	247M	484M	755M	992M
Other Long-Term Assets, Total	120M	111M	299M	464M	603M
Total Assets	7.24B	8.5B	8.29B	9.36B	13.06B
Liabilities
Accounts Payable, Total	196M	204M	202M	201M	197M
Accrued Expenses, Total	516M	643M	602M	753M	790M
Short-term Borrowings	-	-	-	-	-
Current Portion of Leases	27.2M	25.5M	25.5M	24.9M	23.4M
Current Income Taxes Payable	18.6M	30.6M	50.6M	59.3M	287M
Unearned Revenue Current, Total	-	-	-	-	53.7M
Other Current Liabilities	136M	128M	143M	156M	154M
Total Current Liabilities	894M	1.03B	1.02B	1.2B	1.51B
Long-Term Debt	595M	596M	596M	597M	598M
Long-Term Leases	72.7M	69.1M	69.5M	73M	78.9M
Pension & Other Post Retirement Benefits	52.9M	41M	23.5M	36.2M	32.1M
Other Non Current Liabilities	1.05B	929M	774M	742M	778M
Total Liabilities	2.66B	2.67B	2.49B	2.64B	2.99B
Common Stock, Total	636M	642M	646M	650M	655M
Additional Paid In Capital	1.44B	1.7B	1.97B	2.27B	2.61B
Retained Earnings	4.56B	6.07B	7.59B	8.99B	13.17B
Treasury Stock	-1.9B	-2.42B	-4.14B	-5.02B	-6.19B
Comprehensive Income and Other	-161M	-158M	-255M	-243M	-244M
Total Common Equity	4.57B	5.84B	5.81B	6.65B	10B
Minority Interest	-	-	-	69.4M	64.5M
Total Equity	4.57B	5.84B	5.81B	6.72B	10.06B
Total Liabilities And Equity	7.24B	8.5B	8.29B	9.36B	13.06B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	625M	623M	608M	601M	588M
ECS Total Common Shares Outstanding	624M	624M	608M	601M	589M
Book Value / Share	7.33	9.35	9.55	11.06	16.99
Tangible Book Value	3.07B	4.34B	4.36B	4.97B	7.05B
Tangible Book Value Per Share	4.92	6.96	7.16	8.27	11.97
Total Debt	695M	690M	691M	695M	700M
Net Debt	-708M	-776M	-524M	-950M	-3.28B
Debt Equivalent of Unfunded Proj. Benefit Obligation	52.9M	41M	23.5M	36.2M	32.1M
Debt Equivalent Oper. Leases	244M	238M	230M	241M	225M
Minority Interest, Total (Incl. Fin. Div)	-	-	-	69.4M	64.5M
Equity Method Investments, Total	5.7M	8.4M	8.4M	33.6M	34.8M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	137M	133M	156M	253M	241M
Inventories - Work In Process, Total	140M	164M	177M	220M	236M
Inventories - Finished Goods, Total	526M	430M	542M	696M	609M
Land - (BS)	97.6M	116M	116M	116M	124M
Buildings, Total	882M	1.01B	1.19B	1.23B	1.34B
Machinery, Total	607M	653M	735M	814M	689M
Full Time Employees	14.9K	15.7K	17.3K	19.8K	15.8K
Accumulated Allowance for Doubtful Accounts (Supple)	9.6M	9.3M	7.9M	8.3M	11.6M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	823M	1.5B	1.52B	1.4B	4.17B
Depreciation & Amortization - CF	102M	127M	134M	139M	150M
Amortization of Goodwill and Intangible Assets - (CF)	5.4M	7.7M	5.7M	6.1M	5.6M
Depreciation & Amortization, Total	107M	135M	140M	145M	155M
(Gain) Loss From Sale Of Asset	-	-	-	-	-3.35B
(Gain) Loss on Sale of Investments - (CF)	-	-	51.5M	100K	-5.2M
Asset Writedown & Restructuring Costs	-	-	55.1M	-	-
Stock-Based Compensation (CF)	92.6M	109M	127M	139M	162M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-11.1M	-160M	-255M	-265M	-337M
Change In Accounts Receivable	41.9M	-91.1M	-84.1M	-141M	121M
Change In Inventories	-121M	19M	-213M	-289M	-256M
Change In Accounts Payable	-84.5M	195M	-21.4M	146M	89.5M
Change In Income Taxes	-52.9M	62M	-5.6M	-5.8M	-187M
Change in Other Net Operating Assets	258M	-39.8M	-96.9M	-236M	-27.2M
Cash from Operations	1.05B	1.73B	1.22B	896M	542M
Capital Expenditure	-407M	-326M	-245M	-253M	-252M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-	-	-	-95.2M	-1.06B
Divestitures	-	-	-	-	3.93B
Sale (Purchase) of Intangible assets	-300K	-4M	-20.2M	-13.3M	-30M
Investment in Marketable and Equity Securities, Total	-74.7M	-1.35B	690M	640M	-88.2M
Other Investing Activities, Total	-49.1M	-42.6M	-173M	-105M	-182M
Cash from Investing	-531M	-1.72B	252M	174M	2.31B
Long-Term Debt Issued, Total	16.2M	5.2M	-	-	-
Total Debt Issued	16.2M	5.2M	-	-	-
Long-Term Debt Repaid, Total	-17M	-7M	-200K	-300K	-
Total Debt Repaid	-17M	-7M	-200K	-300K	-
Issuance of Common Stock	140M	159M	146M	170M	180M
Repurchase of Common Stock	-625M	-513M	-1.73B	-880M	-1.16B
Other Financing Activities, Total	-1.2M	-300K	-3.6M	-1M	-3.1M
Cash from Financing	-487M	-356M	-1.58B	-711M	-983M
Foreign Exchange Rate Adjustments	-20.5M	13.9M	19.2M	16.8M	38.6M
Net Change in Cash	15.8M	-333M	-94.8M	375M	1.91B
Supplemental Items
Cash Interest Paid	19.9M	20.2M	19.3M	19.9M	19.6M
Cash Income Tax Paid (Refund)	198M	182M	504M	470M	1.17B
Levered Free Cash Flow	374M	1.01B	933M	751M	1.35B
Unlevered Free Cash Flow	384M	1.02B	945M	762M	1.36B
Change In Net Working Capital	232M	-115M	176M	337M	-403M
Net Debt Issued / Repaid	-800K	-1.8M	-200K	-300K	-

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	11.99	12.6	13.34	12.25	8.26
Return on Total Capital	16.3	16.81	17.2	15.54	10.19
Return On Equity %	18.88	28.88	26.14	22.34	16.64
Return on Common Equity	18.88	28.88	26.14	22.52	16.83
Margin Analysis
Gross Profit Margin %	75.36	76.13	79.96	77.02	79.46
SG&A Margin	28.01	28.55	29.1	30.37	32.88
EBITDA Margin %	32.45	32.9	35.89	31.22	30.07
EBITA Margin %	30.13	30.47	33.4	28.91	27.32
EBIT Margin %	30.01	30.32	33.29	28.81	27.22
Income From Continuing Operations Margin %	18.77	28.73	28.28	23.3	25.66
Net Income Margin %	18.77	28.73	28.28	23.35	76.75
Net Avail. For Common Margin %	18.77	28.73	28.28	23.35	25.75
Normalized Net Income Margin	19.04	19.2	21.19	18.8	18.42
Levered Free Cash Flow Margin	8.52	19.28	17.33	12.51	24.83
Unlevered Free Cash Flow Margin	8.75	19.5	17.56	12.69	25.06
Asset Turnover
Asset Turnover	0.64	0.66	0.64	0.68	0.49
Fixed Assets Turnover	3.34	3.35	3.2	3.37	3.14
Receivables Turnover (Average Receivables)	8.29	9.54	8.79	8.47	7.88
Inventory Turnover (Average Inventory)	1.5	1.63	1.35	1.35	1.12
Short Term Liquidity
Current Ratio	3.46	3.08	3.03	3.38	4.18
Quick Ratio	2.24	2.06	1.87	2.08	3.12
Operating Cash Flow to Current Liabilities	1.18	1.68	1.19	0.75	0.36
Days Sales Outstanding (Average Receivables)	44.15	38.25	41.54	43.1	46.45
Days Outstanding Inventory (Average Inventory)	244.41	223.43	271.04	270.31	325.91
Average Days Payable Outstanding	55.53	62.37	60.42	44.01	54.03
Cash Conversion Cycle (Average Days)	233.02	199.31	252.17	269.4	318.33
Long Term Solvency
Total Debt/Equity	15.19	11.83	11.91	10.34	6.96
Total Debt / Total Capital	13.19	10.58	10.64	9.37	6.5
LT Debt/Equity	14.6	11.39	11.47	9.97	6.72
Long-Term Debt / Total Capital	12.67	10.19	10.25	9.04	6.29
Total Liabilities / Total Assets	36.79	31.36	29.98	28.24	22.92
EBIT / Interest Expense	83.3	86.22	93.33	98.28	74.78
EBITDA / Interest Expense	92.02	95.16	102.1	108.23	84.04
(EBITDA - Capex) / Interest Expense	66.26	77.46	89.36	93.85	71.29
Total Debt / EBITDA	0.48	0.39	0.35	0.36	0.42
Net Debt / EBITDA	-0.49	-0.44	-0.27	-0.5	-1.97
Total Debt / (EBITDA - Capex)	0.66	0.48	0.4	0.42	0.5
Net Debt / (EBITDA - Capex)	-0.68	-0.54	-0.31	-0.57	-2.32
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	0.88	19.29	2.86	11.56	8.57
Gross Profit, 1 Yr. Growth %	2.23	20.51	8.03	7.47	7.2
EBITDA, 1 Yr. Growth %	7.04	20.93	12.21	-2.94	0.22
EBITA, 1 Yr. Growth %	6.14	20.63	12.76	-3.43	-0.22
EBIT, 1 Yr. Growth %	6.1	20.54	12.95	-3.47	-0.45
Earnings From Cont. Operations, 1 Yr. Growth %	-21.35	82.55	1.25	-8.05	14.43
Net Income, 1 Yr. Growth %	-21.35	82.55	1.25	-7.85	197.68
Normalized Net Income, 1 Yr. Growth %	5.96	20.29	13.54	-1.07	3.07
Diluted EPS Before Extra, 1 Yr. Growth %	-20.73	83.08	2.52	-5.74	16.42
Accounts Receivable, 1 Yr. Growth %	-5.33	13.14	10.44	20.54	-21.05
Inventory, 1 Yr. Growth %	25.18	-9.42	20.48	33.43	20.28
Net Property, Plant and Equip., 1 Yr. Growth %	30.6	10.02	5.27	6.86	6.49
Total Assets, 1 Yr. Growth %	11.54	17.49	-2.47	12.91	39.43
Tangible Book Value, 1 Yr. Growth %	16.1	41.53	0.29	14.02	37.99
Common Equity, 1 Yr. Growth %	10.27	27.58	-0.5	14.52	50.35
Cash From Operations, 1 Yr. Growth %	-10.87	64.29	-29.67	-26.47	-39.46
Capital Expenditures, 1 Yr. Growth %	59.98	-19.95	-24.92	3.43	-0.24
Levered Free Cash Flow, 1 Yr. Growth %	-27.87	169.96	-7.53	-19.51	129.03
Unlevered Free Cash Flow, 1 Yr. Growth %	-27.77	166.01	-7.39	-19.37	126.89
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.55	9.7	10.77	7.13	10.39
Gross Profit, 2 Yr. CAGR %	8.98	10.99	14.1	7.75	7.47
EBITDA, 2 Yr. CAGR %	11.24	13.86	16.49	4.36	-1.36
EBITA, 2 Yr. CAGR %	10.86	13.24	16.63	4.35	-1.89
EBIT, 2 Yr. CAGR %	10.76	13.18	16.68	4.42	-2
Earnings From Cont. Operations, 2 Yr. CAGR %	6.78	19.82	35.95	-3.51	2.68
Net Income, 2 Yr. CAGR %	6.78	19.82	35.95	-3.41	65.62
Normalized Net Income, 2 Yr. CAGR %	11.13	12.99	16.87	6.21	1.4
Diluted EPS Before Extra, 2 Yr. CAGR %	7.26	20.47	37	-1.7	5.06
Accounts Receivable, 2 Yr. CAGR %	6.13	3.49	11.78	15.38	-2.67
Inventory, 2 Yr. CAGR %	14.97	6.48	4.46	26.79	11.41
Net Property, Plant and Equip., 2 Yr. CAGR %	31.03	19.87	7.62	6.06	1.7
Total Assets, 2 Yr. CAGR %	16.59	14.48	7.04	4.94	25.47
Tangible Book Value, 2 Yr. CAGR %	34.97	28.18	19.14	6.94	27.16
Common Equity, 2 Yr. CAGR %	20.69	18.61	12.67	6.75	31.22
Cash From Operations, 2 Yr. CAGR %	6.66	21.01	7.49	-28.09	-33.28
Capital Expenditures, 2 Yr. CAGR %	30.58	13.17	-22.48	-11.88	1.58
Levered Free Cash Flow, 2 Yr. CAGR %	-13.05	39.71	58	-13.72	31.88
Unlevered Free Cash Flow, 2 Yr. CAGR %	-13.53	38.78	56.95	-13.59	31.47
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.49	12.02	7.37	11.04	1.3
Gross Profit, 3 Yr. CAGR %	8.9	12.69	10	11.84	2.76
EBITDA, 3 Yr. CAGR %	8.83	14.38	13.31	9.61	-1.68
EBITA, 3 Yr. CAGR %	8.66	14.03	13.08	9.52	-2.31
EBIT, 3 Yr. CAGR %	8.78	13.93	13.1	9.54	-2.27
Earnings From Cont. Operations, 3 Yr. CAGR %	12.16	27.68	13.28	19.34	-2.43
Net Income, 3 Yr. CAGR %	12.16	27.68	13.28	19.42	40.56
Normalized Net Income, 3 Yr. CAGR %	9.6	14.11	13.17	10.57	0.03
Diluted EPS Before Extra, 3 Yr. CAGR %	13.04	28.18	14.16	20.95	-0.56
Accounts Receivable, 3 Yr. CAGR %	5.46	8.41	5.76	14.63	1.52
Inventory, 3 Yr. CAGR %	13.08	6.18	10.96	13.34	14.35
Net Property, Plant and Equip., 3 Yr. CAGR %	29.89	23.62	14.79	7.37	2.88
Total Assets, 3 Yr. CAGR %	8.5	16.89	8.52	8.96	15.37
Tangible Book Value, 3 Yr. CAGR %	31.12	37.12	18.12	17.41	17.49
Common Equity, 3 Yr. CAGR %	15.66	22.94	11.86	13.28	19.66
Cash From Operations, 3 Yr. CAGR %	1.75	23.18	0.98	-5.29	-32.1
Capital Expenditures, 3 Yr. CAGR %	34.28	10.93	-1.3	-14.66	-8.16
Levered Free Cash Flow, 3 Yr. CAGR %	-16.38	26.84	21.76	26.19	10.22
Unlevered Free Cash Flow, 3 Yr. CAGR %	-16.28	25.76	21.27	25.71	10.13
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	11.96	12.04	9.4	10.03	4.58
Gross Profit, 5 Yr. CAGR %	11.99	12.96	10.95	10.69	5.97
EBITDA, 5 Yr. CAGR %	14.97	14.09	11.83	10.26	4.26
EBITA, 5 Yr. CAGR %	15.25	14.03	11.78	10.05	3.64
EBIT, 5 Yr. CAGR %	15.41	14.13	11.88	10.03	3.64
Earnings From Cont. Operations, 5 Yr. CAGR %	10.72	21.42	21.13	14.14	5.92
Net Income, 5 Yr. CAGR %	10.72	21.42	21.13	14.19	31.87
Normalized Net Income, 5 Yr. CAGR %	16.2	14.8	12.45	10.8	4.95
Diluted EPS Before Extra, 5 Yr. CAGR %	11.63	22.3	22.08	15.27	7.37
Accounts Receivable, 5 Yr. CAGR %	10.29	9.76	7.95	11.15	2.3
Inventory, 5 Yr. CAGR %	18.74	12.88	9.55	13.99	11.14
Net Property, Plant and Equip., 5 Yr. CAGR %	25.29	23.09	20.48	16.27	9.36
Total Assets, 5 Yr. CAGR %	12.28	13.52	7.91	11.95	15.01
Tangible Book Value, 5 Yr. CAGR %	12.96	19.43	26.19	24.14	21.65
Common Equity, 5 Yr. CAGR %	12.82	17.38	14.46	16.19	19.24
Cash From Operations, 5 Yr. CAGR %	13.91	19.72	4.01	-0.68	-14.44
Capital Expenditures, 5 Yr. CAGR %	31.71	13.09	7.79	1.17	-0.16
Levered Free Cash Flow, 5 Yr. CAGR %	-2.28	25.71	7.86	8.72	21.18
Unlevered Free Cash Flow, 5 Yr. CAGR %	-2.27	25.07	7.65	8.23	20.8