Company name Linkedin

Numbers from your base year below:

Revenues $ 243.00 Based on public information
Operating income or EBIT $ 20.00 Based on public information
Book value of equity $ 124.00 Don't know. Estimated number but does not affect
Book value of debt $ 2.00 Based on public information
Cash $ 93.00 Don't know… but made up this number
Number of shares outstanding = 94.50 Updated number
Current stock price = $ 86.00
Tax rate = 38.00%
The value drivers below:
Compounded annual revenue growth rate over next 5 50.00% Revenue growth last year was 100
Target pre-tax operating margin (EBIT as % of sales in 15.00% At median value for similar companies
Sales to capital ratio (for computing reinvestment) = 2.14 Set to industry average for similar companies
Market numbers
Riskfree rate 3.30% 10 year treasury bond rate
Initial cost of capital = 12.00% Top decile of public companies

Default assumptions
I will assume that your firm will have a cost of capital similar to that of typical mature companies (riskfree rate + 4.5%)
Do you want to override this assumption = No Mature companies generally see their risk levels ap
If yes, enter the cost of capital after year 10 = 9% Though some sectors, even in stable growth, may h
I will assume that your firm will earn a return on capital equal to its cost of capital after year 10
Do you want to override this assumption = No Mature companies find it difficult to generate retur
If yes, enter the return on capital you expect after year 15% But there are significant exceptions among compan
I will assume that your firm has no chance of failure in the next 10 years
Do you want to override this assumption = No Many young, growth companies fail, especially if th
If yes, enter the probability of failure in the next 10 ye 20% Tough to estimate but a key input.
I will asssume that you have no NOL coming into the valuation
Do you want to override this assumption = No Check the financial statements.
If yes, enter the NOL that you are carrying over into ye $100.00 An NOL will shield your income from taxes, even af
 c information
c information
timated number but does not affect value
c information
but made up this number

th last year was 100

ue for similar companies
average for similar companies

ry bond rate
ublic companies

ompanies (riskfree rate + 4.5%)

nies generally see their risk levels approach the average
sectors, even in stable growth, may have higher risk

nies find it difficult to generate returns that exceed the cost of capital
ignificant exceptions among companies with long-lasting competitive advantages

rowth companies fail, especially if they have trouble raising cash

ate but a key input.

ncial statements.
eld your income from taxes, even after you start making money
 Base year 1 2 3 4 5
Revenue growth rate 50.00% 50.00% 50.00% 50.00% 50.00%
Revenues $ 243.00 $ 364.50 $ 546.75 $ 820.13 $ 1,230.19 $ 1,845.28
EBIT (Operating) margin 8.23% 8.91% 9.58% 10.26% 10.94% 11.62%
EBIT (Operating income) $ 20.00 $ 32.47 $ 52.40 $ 84.16 $ 134.56 $ 214.33
EBIT(1-t) $ 20.00 $ 20.13 $ 32.49 $ 52.18 $ 83.43 $ 132.89
- Reinvestment $ 56.78 $ 85.16 $ 127.75 $ 191.62 $ 287.43
FCFF $ (36.65) $ (52.67) $ (75.57) $ (108.19) $ (154.54)
NOL $ - $ - $ - $ - $ - $ -

WACC 12.00% 12.00% 12.00% 12.00% 12.00%

Discount factor 0.893 0.797 0.712 0.636 0.567
PV(FCFF) $ (32.72) $ (41.99) $ (53.79) $ (68.76) $ (87.69)

Terminal cash flow $ 268.13

Terminal Cost of capital 7.80%
Terminal value $ 5,958.46
PV(Terminal value) $ 2,150.30
PV (CF over next 10 year $ (208.63)
Sum of PV $ 1,941.67
Probability of failure = 0.00%
Value of operating asset $ 1,941.67
Debt $ 2.00
Cash $ 93.00
Value of equity $ 2,032.67
Number of shares 94.50
Estimated value $ 21.51
Price paid by Microsoft $ 86.00
Price as % of value 399.82%

Implied variables
Sales to capital ratio 2.14 2.14 2.14 2.14 2.14
Invested capital $ 33 $ 90 $ 175 $ 303 $ 494 $ 782
ROIC 60.61% 22.42% 18.57% 17.24% 16.88% 17.00%
 6 7 8 9 10 Terminal year
40.66% 31.32% 21.98% 12.64% 3.30% 3.30%
$ 2,595.57 $ 3,408.51 $ 4,157.70 $ 4,683.23 $ 4,837.77 $ 4,997.42
12.29% 12.97% 13.65% 14.32% 15.00% 15.00%
$ 319.05 $ 442.05 $ 567.36 $ 670.78 $ 725.67 $ 749.61
$ 197.81 $ 274.07 $ 351.76 $ 415.88 $ 449.91 $ 464.76
$ 350.60 $ 379.88 $ 350.09 $ 245.58 $ 72.22 $ 196.63
$ (152.79) $ (105.80) $ 1.68 $ 170.31 $ 377.70 $ 268.13
$ - $ - $ - $ - $ - $ -

11.16% 10.32% 9.48% 8.64% 7.80% 7.80%

0.510 0.463 0.423 0.389 0.361
$ (77.99) $ (48.96) $ 0.71 $ 66.25 $ 136.30

After year 10
2.14 2.14 2.14 2.14 2.14
$ 1,132 $ 1,512 $ 1,862 $ 2,108 $ 2,180
17.47% 18.12% 18.89% 19.73% 20.64% 7.80%
VALUATION DIAGNOSTICS: CONAME

Invested capital at start of valuation

Invested capital at end of valuation
Change in invested capital over 10 years
Change in EBIT*(1–t) (after-tax operating income) over 10 years
Marginal ROIC over 10 years
ROIC at end of valuation
Average WACC over the 10 years
Your calculated value as a percent of current price
Value seems low. See below

Inputs

Revenue growth rate

Last period EBIT as % of revenue

Last period EBIT as % of revenue needed to earn cost of capit

 $ 33.00
$ 2,180.09
$ 2,147.09
$ 705.67
32.87%
20.64%
10.74%
25.01%
Value seems low. See below
If calculated value is
If calculated value looks too high
negative or looks too low
Increase revenue growth
Decrease revenue growth rate
rate

15%
Decrease margin until return in year 10 = cost of capital

7.81%
Industry Name Number of Firms Average BetaUnlevered Beta corrected for cashMarket D/E Ratio
Advertising 28 1.79 1.55 36.55%
Aerospace/Defense 63 1.15 1.07 23.64%
Air Transport 40 1.21 0.95 52.64%
Apparel 48 1.35 1.32 15.80%
Auto Parts 47 1.78 1.58 24.67%
Automotive 19 1.50 0.93 108.58%
Bank 418 0.75 0.47 85.86%
Bank (Canadian) 7 0.86 0.84 13.77%
Bank (Midwest) 40 0.96 0.68 69.03%
Beverage 34 0.92 0.86 13.09%
Biotechnology 120 1.13 1.20 13.24%
Building Materials 47 1.33 0.88 71.38%
Cable TV 24 1.43 0.97 68.40%
Canadian Energy 10 1.14 0.94 28.44%
Chemical (Basic) 17 1.28 1.19 18.75%
Chemical (Diversified) 31 1.51 1.39 21.07%
Chemical (Specialty) 83 1.37 1.20 23.06%
Coal 25 1.59 1.45 16.16%
Computer Software/Svcs 247 1.06 1.12 4.68%
Computers/Peripherals 101 1.27 1.31 9.13%
Diversified Co. 111 1.22 0.76 99.77%
Drug 301 1.11 1.08 14.10%
E-Commerce 52 1.14 1.19 4.58%
Educational Services 37 0.79 0.84 8.89%
Electric Util. (Central) 23 0.78 0.46 96.84%
Electric Utility (East) 25 0.73 0.49 74.73%
Electric Utility (West) 14 0.75 0.49 83.18%
Electrical Equipment 79 1.32 1.29 10.91%
Electronics 158 1.13 1.13 18.40%
Engineering & Const 17 1.65 1.85 7.93%
Entertainment 75 1.72 1.38 37.99%
Entertainment Tech 31 1.39 1.55 7.80%
Environmental 69 0.85 0.64 41.13%
Financial Svcs. (Div.) 230 1.37 0.75 135.83%
Food Processing 109 0.87 0.74 28.98%
Foreign Electronics 9 1.14 1.23 29.55%
Funeral Services 5 1.22 0.94 50.78%
Furn/Home Furnishings 30 1.67 1.49 26.18%
Healthcare Information 26 0.94 0.96 4.86%
Heavy Truck/Equip Makers 8 1.94 1.55 46.41%
Homebuilding 24 1.39 1.05 89.05%
Hotel/Gaming 52 1.76 1.33 49.08%
Household Products 22 1.17 1.05 18.38%
Human Resources 24 1.44 1.57 9.14%
Industrial Services 137 0.96 0.86 26.26%
Information Services 26 1.10 0.98 20.21%
Insurance (Life) 31 1.39 1.44 18.28%
Insurance (Prop/Cas.) 67 0.92 0.94 11.12%
Internet 180 1.11 1.21 1.57%
Machinery 114 1.22 1.05 28.52%
Maritime 53 1.37 0.64 138.71%
Medical Services 139 0.88 0.80 38.70%
Medical Supplies 231 1.02 1.01 11.48%
Metal Fabricating 30 1.44 1.44 18.24%
Metals & Mining (Div.) 69 1.33 1.25 11.01%
Natural Gas (Div.) 32 1.25 0.99 34.98%
Natural Gas Utility 27 0.65 0.45 62.04%
Newspaper 13 1.71 1.34 46.80%
Office Equip/Supplies 24 1.45 1.19 45.11%
Oil/Gas Distribution 12 0.97 0.61 75.32%
Oilfield Svcs/Equip. 95 1.48 1.34 18.94%
Packaging & Container 27 1.06 0.85 44.52%
Paper/Forest Products 37 1.52 1.01 71.26%
Petroleum (Integrated) 23 1.21 1.12 18.37%
Petroleum (Producing) 163 1.36 1.17 22.47%
Pharmacy Services 19 0.96 0.87 20.38%
Pipeline MLPs 11 0.85 0.61 42.18%
Power 68 1.34 0.78 98.86%
Precious Metals 74 1.18 1.15 6.76%
Precision Instrument 83 1.27 1.31 11.20%
Property Management 27 1.20 0.58 144.04%
Public/Private Equity 8 2.18 1.20 104.42%
Publishing 23 1.30 0.96 57.88%
R.E.I.T. 6 1.29 1.07 30.86%
Railroad 14 1.28 1.10 27.19%
Recreation 52 1.50 1.21 37.21%
Reinsurance 8 0.98 1.09 15.27%
Restaurant 60 1.33 1.21 16.09%
Retail (Special Lines) 143 1.54 1.48 17.17%
Retail Automotive 15 1.44 1.25 27.52%
Retail Building Supply 8 0.92 0.85 13.61%
Retail Store 38 1.33 1.19 25.22%
Retail/Wholesale Food 29 0.74 0.63 42.10%
Securities Brokerage 25 1.25 0.75 149.83%
Semiconductor 115 1.56 1.68 6.24%
Semiconductor Equip 14 1.79 1.97 5.84%
Shoe 18 1.31 1.48 1.71%
Steel (General) 19 1.59 1.43 23.47%
Steel (Integrated) 13 1.72 1.43 36.84%
Telecom. Equipment 104 1.04 1.22 10.71%
Telecom. Services 85 1.01 0.84 34.06%
Telecom. Utility 28 1.03 0.66 84.06%
Thrift 181 0.70 0.74 7.81%
Tobacco 13 0.73 0.66 21.57%
Toiletries/Cosmetics 15 1.27 1.19 19.52%
Trucking 33 1.20 0.97 42.14%
Utility (Foreign) 5 0.99 0.70 58.68%
Water Utility 12 0.70 0.47 77.89%
Wireless Networking 48 1.25 1.15 18.19%
Total Market 5928 1.15 0.96 36.04%
Cost of Equity Cost of Debt D/(D+E) Cost of Capital ROC ROE Net Margin After-tax Operating Margin
11.80% 6.29% 26.77% 10.11% 9.79% 0.46% 1.15% 7.70%
8.74% 4.79% 19.12% 7.79% 23.55% 23.91% 2.77% 8.02%
9.01% 5.29% 34.49% 7.32% 12.96% 0.11% 1.86% 5.83%
9.70% 5.29% 13.64% 8.95% 17.16% 11.79% 6.49% 8.70%
11.71% 5.79% 19.79% 10.38% 14.31% 4.15% 2.18% 5.79%
10.40% 4.79% 52.06% 6.97% 12.11% -24.81% -0.83% 6.66%
6.82% 4.79% 46.20% 5.58% NA 2.54% NA NA
7.39% 4.29% 12.10% 6.91% NA 11.01% NA NA
7.84% 4.29% 40.84% 6.07% NA 0.46% NA NA
7.63% 5.29% 11.57% 7.24% 23.26% 28.15% 7.46% 16.12%
8.66% 6.29% 11.69% 8.34% 13.79% 6.60% 6.97% 15.10%
9.60% 5.79% 41.65% 7.73% 11.22% 1.99% -0.57% 13.86%
10.07% 4.79% 40.62% 7.48% 14.10% 11.20% 4.08% 21.19%
8.69% 4.29% 22.14% 7.62% 18.03% 7.02% 10.01% 33.51%
9.38% 4.79% 15.79% 8.48% 21.71% 19.70% 4.67% 14.35%
10.46% 5.29% 17.40% 9.34% 18.99% 12.40% 3.46% 13.12%
9.78% 5.29% 18.74% 8.79% 17.58% 13.65% 3.11% 10.52%
10.82% 5.29% 13.91% 9.96% 24.20% 17.18% 10.06% 18.89%
8.31% 5.79% 4.47% 8.16% 41.96% 24.38% 9.67% 19.61%
9.33% 7.29% 8.37% 9.10% 41.12% 26.57% 4.94% 10.57%
9.07% 5.29% 49.94% 6.73% 10.98% 13.13% 3.70% 17.08%
8.55% 7.29% 12.36% 8.34% 22.06% 17.21% 8.32% 23.85%
8.68% 5.29% 4.38% 8.49% 16.02% 6.76% 3.32% 8.15%
7.05% 5.29% 8.16% 6.79% 33.53% 22.74% 7.06% 11.77%
6.99% 4.29% 49.20% 5.13% 10.21% 9.70% 8.55% 18.55%
6.74% 4.29% 42.77% 5.13% 11.25% 11.82% 4.88% 18.99%
6.83% 4.29% 45.41% 5.06% 10.78% 9.75% 8.48% 19.23%
9.54% 5.29% 9.83% 9.04% 18.44% 16.59% 5.78% 12.66%
8.63% 5.79% 15.54% 8.07% 15.92% 9.03% 2.25% 5.62%
11.12% 5.29% 7.35% 10.58% 20.10% 12.36% 3.17% 4.58%
11.44% 6.29% 27.53% 9.76% 11.56% 9.20% 4.19% 15.41%
9.87% 6.29% 7.24% 9.58% 6.84% -1.60% 3.61% 6.38%
7.32% 6.29% 29.14% 6.82% 12.00% 11.17% 3.57% 14.29%
9.79% 5.79% 57.60% 6.87% 6.82% -35.39% 5.54% 20.57%
7.41% 4.79% 22.47% 6.59% 15.80% 17.91% 2.70% 7.81%
8.68% 4.29% 22.81% 7.39% 11.68% -0.31% 1.69% 5.38%
9.08% 4.29% 33.68% 7.05% 10.66% 11.81% 9.07% 13.17%
11.19% 5.29% 20.75% 9.78% 11.99% 5.49% 3.37% 5.98%
7.76% 5.29% 4.64% 7.59% 17.97% 7.85% 3.39% 10.01%
12.50% 5.79% 31.70% 10.00% 12.58% 3.47% 4.55% 6.70%
9.88% 5.29% 47.10% 7.57% -17.00% -38.66% -0.77% -17.12%
11.63% 5.79% 32.92% 9.41% 8.66% 4.81% 0.79% 13.37%
8.82% 4.79% 15.53% 7.99% 18.46% 21.44% 11.96% 15.54%
10.13% 5.29% 8.38% 9.62% 10.12% 3.69% 0.37% 1.83%
7.83% 5.29% 20.80% 7.08% 15.41% 11.72% 1.88% 7.14%
8.49% 4.29% 16.81% 7.62% 15.75% 14.09% 5.27% 16.37%
9.86% 5.29% 15.46% 8.99% NA 9.09% NA NA
7.66% 4.29% 10.01% 7.24% NA 11.48% NA NA
8.54% 7.29% 1.54% 8.51% 33.77% 12.48% 7.73% 15.52%
9.05% 5.29% 22.19% 7.99% 15.27% 14.36% 2.63% 10.10%
9.79% 5.29% 58.11% 6.97% 11.34% 12.67% 3.37% 30.96%
7.47% 5.79% 27.90% 6.67% 16.71% 13.47% 3.15% 6.13%
8.13% 5.79% 10.29% 7.81% 22.36% 18.54% 3.74% 9.02%
10.12% 5.29% 15.42% 9.19% 18.19% 11.85% 3.73% 11.91%
9.59% 7.29% 9.92% 9.31% 18.61% 14.56% 3.98% 22.33%
9.23% 4.79% 25.91% 7.89% 14.08% 9.93% 16.37% 32.41%
6.35% 4.29% 38.29% 5.17% 11.38% 11.10% 2.49% 11.26%
11.40% 5.79% 31.88% 9.06% 10.07% 5.86% 2.82% 8.25%
10.17% 5.29% 31.09% 8.41% 14.74% 10.85% 3.66% 5.75%
7.90% 5.29% 42.96% 6.44% 11.66% 13.13% 4.19% 20.98%
10.32% 4.79% 15.92% 9.31% 19.02% 16.75% 5.00% 23.32%
8.32% 4.79% 30.80% 6.93% 17.60% 15.15% 5.25% 10.66%
10.48% 6.29% 41.61% 8.34% 13.13% -6.09% 1.04% 12.31%
9.03% 4.29% 15.52% 8.11% 15.12% 11.93% 7.10% 8.91%
9.76% 6.29% 18.35% 9.02% 22.24% 9.69% 4.41% 32.05%
7.85% 5.29% 16.93% 7.20% 14.08% 12.83% 2.58% 4.32%
7.34% 4.29% 29.67% 6.40% 12.52% 14.89% 7.47% 14.78%
9.64% 6.29% 49.71% 7.74% 11.83% 7.94% 1.50% 15.44%
8.90% 6.29% 6.33% 8.70% 9.87% 5.44% 12.43% 25.01%
9.32% 5.29% 10.07% 8.85% 15.47% 8.05% 5.71% 11.77%
8.99% 5.29% 59.02% 6.32% 7.63% 3.23% 3.66% 22.07%
13.62% 5.79% 51.08% 9.61% -10.39% -6.59% 18.10% -83.38%
9.47% 4.79% 36.66% 7.31% 23.00% 55.74% 3.47% 12.72%
9.40% 4.79% 23.58% 8.20% 16.46% 9.77% 68.47% 138.72%
9.38% 4.29% 21.38% 8.05% 12.95% 12.84% 8.68% 24.70%
10.40% 5.79% 27.12% 8.88% 11.44% 8.99% 3.85% 14.10%
7.91% 4.29% 13.25% 7.35% NA 13.06% NA NA
9.58% 5.29% 13.86% 8.82% 23.32% 27.13% 5.12% 13.45%
10.57% 5.79% 14.65% 9.71% 20.14% 11.19% 2.05% 5.86%
10.10% 4.79% 21.58% 8.62% 13.11% 15.84% 3.99% 5.07%
7.64% 4.29% 11.98% 7.10% 15.06% 12.48% 4.71% 6.49%
9.61% 4.79% 20.14% 8.39% 15.82% 15.70% 1.63% 4.41%
6.82% 4.29% 29.63% 5.63% 16.96% 13.81% 1.73% 3.63%
9.21% 4.79% 59.97% 5.78% 10.87% 11.17% 8.29% 19.56%
10.68% 5.29% 5.87% 10.34% 23.32% 6.99% 10.57% 18.35%
11.77% 5.29% 5.52% 11.40% 8.64% -1.32% 22.97% 7.18%
9.52% 4.79% 1.68% 9.42% 30.79% 15.53% 8.95% 8.66%
10.83% 4.79% 19.01% 9.56% 4.75% -2.01% 3.58% 3.01%
11.44% 5.29% 26.92% 9.55% 14.67% 10.55% 2.11% 15.05%
8.24% 5.79% 9.68% 7.93% 23.21% 6.63% 4.34% 9.10%
8.10% 5.29% 25.41% 7.19% 22.89% 13.75% 4.85% 28.64%
8.16% 4.79% 45.67% 6.09% 22.72% 16.35% 3.77% 26.67%
6.61% 4.79% 7.25% 6.43% NA -1.59% NA NA
6.77% 5.79% 17.74% 6.36% 29.29% 48.24% 5.60% 15.70%
9.31% 4.79% 16.33% 8.40% 27.12% 32.29% 6.50% 8.81%
8.97% 5.29% 29.65% 7.48% 11.58% -0.38% 1.73% 6.09%
7.97% 4.29% 36.98% 6.29% 9.53% 3.80% 0.31% 8.62%
6.61% 3.79% 43.78% 4.79% 7.53% 7.07% 6.08% 24.33%
9.24% 5.29% 15.39% 8.53% 15.42% 10.03% 5.65% 14.73%
8.72% 5.29% 26.49% 7.60% 16.59% 10.28% 4.47% 14.84%
Pre-tax Operating MarginSales/Capital Reinvestment Rate
13.75% 1.27 -21.48%
11.46% 2.94 2.92%
10.17% 2.22 25.03%
13.15% 1.97 7.62%
8.23% 2.47 -0.44%
8.33% 1.82 4.63%
NA NA 0.00%
NA NA 0.00%
NA NA 0.00%
21.54% 1.44 2.52%
27.94% 0.91 -3.96%
14.55% 0.81 -11.33%
34.01% 0.67 -7.87%
37.52% 0.54 36.94%
17.14% 1.51 17.10%
19.29% 1.45 26.08%
14.36% 1.67 7.86%
23.53% 1.28 13.98%
27.49% 2.14 -6.93%
13.89% 3.89 -5.57%
21.19% 0.64 -6.31%
32.12% 0.92 -29.03%
12.02% 1.97 -1.19%
18.55% 2.85 -1.61%
26.80% 0.55 55.36%
28.32% 0.59 63.04%
28.36% 0.56 63.94%
17.55% 1.46 9.49%
7.97% 2.83 10.53%
6.69% 4.38 0.82%
24.01% 0.75 -5.43%
8.33% 1.07 -62.93%
23.70% 0.84 -2.37%
26.07% 0.33 24.40%
11.05% 2.02 11.36%
8.34% 2.17 -18.30%
20.61% 0.81 -6.00%
8.29% 2.01 -24.99%
15.26% 1.80 -23.43%
10.17% 1.88 -22.53%
1.02% 0.99 NA
18.60% 0.65 39.18%
22.00% 1.19 2.10%
3.71% 5.54 -12.80%
10.73% 2.16 12.53%
21.45% 0.96 -8.83%
NA NA 0.77%
NA NA 72.42%
20.64% 2.18 -7.15%
13.82% 1.51 13.86%
33.86% 0.37 76.91%
9.76% 2.73 0.33%
12.17% 2.48 0.02%
16.07% 1.53 26.23%
35.73% 0.83 45.02%
42.09% 0.43 99.83%
16.80% 1.01 29.96%
16.18% 1.22 -59.73%
8.14% 2.56 -8.37%
24.80% 0.56 87.33%
30.58% 0.82 41.47%
14.40% 1.65 -7.84%
14.96% 1.07 -23.96%
14.73% 1.70 61.48%
43.05% 0.69 54.97%
6.84% 3.26 1.22%
15.13% 0.85 32.68%
22.74% 0.77 81.59%
36.82% 0.39 79.31%
15.32% 1.31 -14.52%
31.67% 0.35 47.28%
20.69% 0.12 NA
18.87% 1.81 -12.51%
151.62% 0.12 -7.77%
37.26% 0.52 32.15%
19.07% 0.81 45.40%
NA NA 9.74%
19.04% 1.73 14.02%
9.76% 3.44 41.81%
7.87% 2.58 134.58%
10.03% 2.32 -2.31%
6.76% 3.59 19.03%
5.44% 4.68 14.38%
27.29% 0.56 -105.93%
27.31% 1.27 -9.91%
9.81% 1.20 225.40%
12.00% 3.56 10.68%
4.31% 1.58 121.34%
19.54% 0.97 2.80%
14.56% 2.55 -20.24%
39.07% 0.80 -5.14%
38.83% 0.85 -14.93%
NA NA 0.00%
22.96% 1.87 -1.38%
12.77% 3.08 6.86%
11.78% 1.90 38.78%
14.64% 1.11 64.81%
37.41% 0.31 90.25%
21.16% 1.05 -62.83%
20.44% 1.12 7.80%