Dividend Discount Model

Assumptions 1. The firm is expected to grow at a higher growth rate in the first period.
2. The growth rate will drop at the end of the first period to the stable growth rate.
3. The dividend payout ratio is consistent with the expected growth rate.
Inputs needed 1. Length of high growth period
2. Expected growth rate in earnings during the high growth period.
3. Dividend payout ratio during the high growth period.
4. Expected growth rate in earnings during the stable growth period.
5. Expected payout ratio during the stable growth period.
6. Current Earnings per share
7. Inputs for the Cost of Equity
How the model works The expected dividends are estimated for the high growth period, using the payout
ratio for the high growth period and the expected growth rate in earnings per share.
The expected growth rate is estimated either using fundamentals:
Expected growth = Retention Ratio * Return on Equity
Alternatively, you can input the expected growth rate.
At the end of the high growth phase, the expected terminal price is estimated using
dividends per share one year after the high growth period, using the growth rate
in stable growth, the payout ratio in stable growth and the cost of equity in stable
growth.
The dividends per share and the terminal price are discounted back to the present at
the cost of equity changes.
If your cost of equity in stable growth is different from your cost of equity in high
growth, the cost of equity in the second half of the stable growth period will be
adjusted gradually from the high growth cost of equity to a stable growth cost of
equity.
Options Available You can make this model into a three stage model by answering yes to the question
of whether you want me to adjust the inputs in the second half of the high growth
period. If you do, I will adjust the growth rate, the payout ratio and the cost of
equity from high-growth levels to stable growth levels gradually.
You can also make this a stable growth model by setting the high
growth period to zero.
count Model
Inputs from current financials
Net Income = $1,500.00 Last year (in currency)
Book Value of Equity = $6,237.00 $6,155.00 (in currency)
Current Earnings per share = $2.60 (in currency)
Current Dividends per share = $1.10 (in currency)
Do you want to normalize the net income/earnings per share? Yes

Inputs for Discount Rate

Beta of the stock = 0.95
Riskfree rate= 7.00% (in percent)
Risk Premium= 5.50% (in percent)

Inputs for High Growth Period

Length of high growth period 10

Do you want to calculate the growth rate from fundamentals? Yes (Yes or No)
If no, enter the expected growth rate in earnings in high growth period=
If yes, the following will be the inputs to the fundamental growth formulation:
ROE = 32.90% (in percent)
Retention = 57.69% (in percent)
Do you want to change any of these inputs for the high growth period? Yes
If yes, specify the values for these inputs (Please enter all variables)
ROE = 30.00% (in percent)
Retention = 57.69% (in percent)
Do you want to change any of these inputs for the stable growth period? No
If yes, specify the values for these inputs
ROE = 25.00% (in percent)

Do you want me to gradually adjust your inputs during the second half? Yes

Inputs for Stable Growth Period

Enter growth rate in stable growth period? 6.00% (in percent)

Stable payout ratio from fundamentals is = 80.00% (in percent)

Do you want to change this payout ratio? No (Yes or No)
If yes, enter the stable payout ratio= (in percent)

Will the beta to change in the stable period? Yes (Yes or No)
If yes, enter the beta for stable period = 0.80
Enter the risk premium to use in stable period = 5.50%
 Normalized Earnings Calculation
Choose the approach to normalized earnings 1
Approach 1: Average Net Income over last 5 years
-5 -4 -3
Net Income $1,662.00 $2,533.00 $1,876.00

Approach 2: Normalized return on equity

Normalized ROE = 22%
ized Earnings Calculation

-2 Current Average
$1,933.00 $2,122.00 $2,025.20
 Two-Stage Dividend Discount Model

Output from the program

Cost of Equity = 12.23%
Net Income = $2,025
Earnings per Share = $3.51
Growth rate in EPS = 17.31%
Payout Ratio for high growth phase= 42.31%

The dividends for the high growth phase are shown below (upto 10 years)
1 2 3 4
Expected Growth Rate 17.31% 17.31% 17.31% 17.31%
Earnings per share $4.12 $4.83 $5.67 $6.65
Payout ratio 42.31% 42.31% 42.31% 42.31%
Dividends per share $1.74 $2.04 $2.40 $2.81
Cost of Equity 12.23% 12.23% 12.23% 12.23%
Cumulative Cost of Equity 112.23% 125.94% 141.34% 158.62%
Present Value $1.55 $1.62 $1.70 $1.77

Growth Rate in Stable Phase = 6.00%

Page
 Two-Stage Dividend Discount Model

Payout Ratio in Stable Phase = 80.00%

Cost of Equity in Stable Phase = 11.40%
Price at the end of growth phase = $201.53

Present Value of dividends in high growth phase = $22.72

Present Value of Terminal Price = $65.02
Value of the stock = $87.74

Estimating the value of growth

Value of assets in place = $9.65
Value of stable growth = $11.94
Value of extraordinary growth = $66.14
Value of the stock = $87.74

Page
 Two-Stage Dividend Discount Model

ogram

5 6 7 8 9 10
17.31% 15.05% 12.78% 10.52% 8.26% 6.00%
$7.80 $8.97 $10.12 $11.18 $12.11 $12.83
42.31% 49.85% 57.38% 64.92% 72.46% 80.00%
$3.30 $4.47 $5.81 $7.26 $8.77 $10.27
12.23% 12.06% 11.90% 11.73% 11.57% 11.40%
178.01% 199.48% 223.21% 249.39% 278.23% 309.95%
$1.85 $2.24 $2.60 $2.91 $3.15 $3.31

Page
Two-Stage Dividend Discount Model

Page
Two-Stage Dividend Discount Model

Page
Two-Stage Dividend Discount Model

Page
Industry Name Number of firms
Levered Beta Unlevered BetaStd Dev: Equity Market D/E
Advertising 30 1.43 0.87 80.69% 126.31%
Aerospace/Defense 66 1.27 1.20 47.75% 27.21%
Air Transport 44 1.15 0.86 60.46% 78.21%
Apparel 53 1.14 0.93 68.33% 44.32%
Auto & Truck 20 1.49 0.76 34.92% 183.75%
Auto Parts 54 1.56 1.10 52.04% 94.19%
Bank 477 0.71 0.47 27.49% 91.52%
Bank (Canadian) 8 0.86 0.83 17.85% 10.36%
Bank (Midwest) 39 0.91 0.66 27.13% 68.98%
Beverage 41 0.95 0.85 54.53% 19.02%
Biotechnology 108 1.25 1.27 69.85% 9.98%
Building Materials 52 1.39 0.80 61.96% 103.11%
Cable TV 25 1.56 0.95 44.91% 88.77%
Canadian Energy 12 1.22 0.99 33.84% 35.70%
Chemical (Basic) 19 1.26 1.10 37.09% 29.11%
Chemical (Diversified) 33 1.21 1.10 39.47% 26.70%
Chemical (Specialty) 88 1.18 0.98 57.61% 35.74%
Coal 18 1.98 1.43 49.41% 48.02%
Computer Software/Svcs 322 1.22 1.33 71.38% 7.77%
Computers/Peripherals 125 1.29 1.39 82.96% 18.36%
Diversified Co. 113 1.25 0.60 48.51% 160.98%
Drug 342 1.16 1.14 96.99% 14.51%
E-Commerce 54 1.50 1.76 57.18% 11.43%
Educational Services 34 0.84 0.89 52.81% 2.22%
Electric Util. (Central) 24 0.82 0.49 21.09% 107.83%
Electric Utility (East) 26 0.74 0.50 22.24% 73.30%
Electric Utility (West) 16 0.79 0.50 18.64% 90.70%
Electrical Equipment 83 1.37 1.26 57.31% 23.53%
Electronics 173 1.31 1.23 79.26% 45.62%
Entertainment 84 1.66 1.09 50.24% 79.23%
Entertainment Tech 33 1.45 2.33 70.79% 11.54%
Environmental 79 1.11 0.80 87.19% 49.86%
Financial Svcs. (Div.) 296 1.27 0.45 62.78% 261.38%
Food Processing 109 0.80 0.65 40.11% 35.15%
Food Wholesalers 18 0.73 0.54 46.75% 59.50%
Foreign Electronics 10 1.18 1.40 25.56% 42.29%
Furn/Home Furnishings 34 1.29 0.94 43.85% 65.75%
Grocery 14 0.84 0.78 27.93% 13.91%
Healthcare Information 29 1.05 1.04 50.75% 19.87%
Heavy Construction 14 1.48 1.74 42.91% 9.49%
Homebuilding 32 1.36 0.65 44.28% 162.15%
Hotel/Gaming 68 1.70 0.84 64.47% 142.62%
Household Products 26 1.08 0.95 37.34% 23.21%
Human Resources 31 1.44 1.61 43.81% 18.42%
Industrial Services 167 1.20 0.98 63.50% 43.98%
Information Services 34 1.22 1.24 37.26% 21.88%
Insurance (Life) 35 1.17 1.27 50.74% 21.71%
Insurance (Prop/Cas.) 78 0.91 0.92 26.47% 1.89%
Internet 208 1.41 1.66 86.31% 4.07%
Investment Co. 17 0.83 0.90 18.96% 14.84%
Investment Co.(Foreign) 16 1.31 1.36 28.87% 5.16%
Machinery 124 1.39 1.08 48.66% 55.77%
Manuf. Housing/RV 18 1.32 1.38 47.67% 50.13%
Maritime 56 1.30 0.52 37.08% 185.73%
Medical Services 160 1.10 0.90 86.84% 54.66%
Medical Supplies 252 1.17 1.13 72.38% 13.28%
Metal Fabricating 35 1.56 1.55 60.00% 25.44%
Metals & Mining (Div.) 78 1.69 1.48 97.21% 21.94%
Natural Gas (Div.) 34 1.20 0.85 35.65% 58.57%
Natural Gas Utility 25 0.69 0.43 25.71% 85.33%
Newspaper 16 1.16 0.72 34.32% 86.43%
Office Equip/Supplies 26 1.11 0.84 42.36% 60.35%
Oil/Gas Distribution 19 0.89 0.53 36.90% 81.95%
Oilfield Svcs/Equip. 112 1.56 1.27 46.34% 42.35%
Packaging & Container 33 1.27 0.81 39.90% 84.83%
Paper/Forest Products 38 1.20 0.64 48.42% 118.10%
Petroleum (Integrated) 25 1.34 1.30 37.35% 14.67%
Petroleum (Producing) 188 1.24 0.97 78.27% 37.57%
Pharmacy Services 19 0.94 0.81 30.96% 23.50%
Power 66 1.63 0.95 71.09% 107.88%
Precious Metals 75 1.41 1.37 67.33% 11.77%
Precision Instrument 90 1.47 1.59 53.96% 22.65%
Property Management 17 1.38 0.46 32.79% 282.91%
Publishing 27 1.24 0.62 39.28% 137.13%
R.E.I.T. 144 1.35 0.92 36.52% 53.19%
Railroad 15 1.25 0.99 30.42% 41.53%
Recreation 64 1.41 1.01 57.75% 62.58%
Reinsurance 11 0.91 1.00 22.33% 11.37%
Restaurant 68 1.26 1.09 48.95% 24.97%
Retail (Special Lines) 155 1.26 1.22 57.15% 26.07%
Retail Automotive 16 1.31 0.93 35.23% 66.88%
Retail Building Supply 8 1.01 0.86 24.82% 26.35%
Retail Store 38 1.01 0.86 40.30% 30.29%
Securities Brokerage 32 1.37 0.37 51.25% 462.27%
Semiconductor 122 1.81 2.11 59.20% 13.32%
Semiconductor Equip 16 1.78 2.20 43.35% 13.62%
Shoe 19 1.23 1.39 39.32% 3.66%
Steel (General) 20 1.71 1.53 44.25% 32.18%
Steel (Integrated) 14 1.96 1.54 49.03% 64.96%
Telecom. Equipment 110 1.49 1.87 75.07% 12.71%
Telecom. Services 140 1.43 1.06 82.14% 51.32%
Thrift 234 0.66 0.69 31.62% 9.71%
Tobacco 12 0.71 0.69 29.69% 8.84%
Toiletries/Cosmetics 23 0.95 0.79 51.70% 38.50%
Trucking 33 1.17 0.66 38.85% 126.80%
Utility (Foreign) 5 1.23 0.85 28.01% 62.82%
Water Utility 16 0.86 0.57 35.87% 82.79%
Wireless Networking 57 1.54 1.28 58.41% 36.37%
Public/Private Equity 10 2.08 0.48 45.59% 391.15%
Funeral Services 6 1.41 1.02 29.93% 67.25%
Market 6870 1.19 0.93 56.57% 48.81%
Market Debt/Capital
ROE ROC Effective Tax Rate
Pre-tax Operating
After-tax
MarginOperating
Net Margin
Margin
55.81% 21.54% 13.01% 18.90% 17.93% 11.95% 2.26%
21.39% 25.52% 19.53% 24.10% 12.31% 8.31% 3.57%
43.89% 31.77% 22.00% 23.00% 13.57% 11.05% 0.17%
30.71% 16.38% 18.05% 17.21% 12.98% 10.18% 2.69%
64.76% 85.35% 18.80% 24.36% 13.10% 7.96% 0.57%
48.50% 19.79% 21.81% 19.61% 7.65% 5.56% 0.90%
47.79% 14.58% NA 25.91% NA NA NA
9.39% 23.19% NA 15.08% NA NA NA
40.82% 17.19% NA 26.81% NA NA NA
15.98% 24.85% 18.98% 16.46% 20.00% 14.75% 5.77%
9.08% 22.16% 14.78% 3.59% 26.91% 16.90% 8.33%
50.76% 13.03% 11.35% 18.44% 14.04% 10.51% 2.23%
47.03% 7.00% 10.91% 22.97% 34.41% 19.49% 3.28%
26.31% 20.83% 25.35% 27.82% 40.66% 28.84% 9.48%
22.55% 25.33% 21.96% 19.29% 15.05% 11.97% 6.40%
21.07% 26.45% 23.67% 25.47% 19.87% 14.14% 5.55%
26.33% 18.88% 17.93% 18.99% 14.08% 9.75% 2.69%
32.44% 13.96% 20.13% 10.52% 18.05% 15.76% 4.53%
7.21% 47.49% 36.64% 12.65% 24.51% 17.24% 8.24%
15.51% 49.14% 32.96% 9.90% 11.61% 8.78% 3.55%
61.68% 29.12% 10.79% 20.23% 22.39% 17.93% 4.85%
12.67% 26.23% 22.57% 5.96% 30.15% 22.65% 8.38%
10.26% 10.10% 12.54% 13.09% 12.69% 8.76% 3.38%
2.18% 48.89% 46.84% 20.80% 17.36% 11.69% 5.63%
51.88% 11.46% 10.28% 33.02% 21.86% 14.67% 3.61%
42.30% 13.38% 11.64% 32.09% 25.85% 17.24% 4.49%
47.56% 10.89% 11.52% 30.47% 24.38% 16.51% 3.72%
19.05% 24.82% 20.50% 14.23% 15.75% 11.48% 4.96%
31.33% 10.63% 13.01% 11.87% 7.57% 5.61% 1.40%
44.21% 8.08% 9.98% 17.17% 23.75% 15.00% 3.66%
10.35% -5.09% 4.51% 13.67% 3.93% 1.77% -1.45%
33.27% 14.34% 13.67% 15.45% 21.85% 13.42% 3.48%
72.33% 14.91% 12.33% 17.93% 85.68% 76.59% -22.60%
26.01% 20.98% 15.64% 21.67% 11.98% 8.59% 2.98%
37.30% 15.36% 14.62% 27.39% 5.66% 3.75% 0.94%
29.72% 12.30% 16.90% 37.04% 13.50% 7.43% 1.67%
39.67% 12.64% 13.85% 23.99% 10.51% 7.04% 1.43%
12.21% 17.58% 17.38% 32.96% 5.87% 3.81% 1.06%
16.58% 43.47% 24.69% 16.47% 20.66% 14.16% 7.79%
8.67% 21.05% 18.45% 34.26% 5.98% 3.85% 2.23%
61.85% -63.59% -23.17% 6.13% -16.16% -16.36% -10.34%
58.78% 17.10% 10.83% 17.97% 22.98% 15.26% 3.26%
18.84% 21.67% 17.10% 29.87% 21.24% 15.33% 5.90%
15.55% 16.30% 17.34% 29.77% 5.69% 3.31% 1.20%
30.55% 19.74% 18.18% 19.26% 11.76% 8.27% 2.03%
17.95% 32.04% 21.20% 20.44% 21.26% 14.72% 5.92%
17.84% 20.91% NA 25.86% NA NA NA
1.85% 20.44% NA 20.26% NA NA NA
3.91% 25.60% 26.46% 7.50% 19.23% 13.94% 6.53%
12.92% 647.73% NA 0.00% NA NA NA
4.90% 10.46% NA 2.11% NA NA NA
35.80% 23.51% 17.21% 22.71% 13.72% 9.49% 3.49%
33.39% 8.90% 9.47% 14.98% 3.83% 2.37% -1.61%
65.00% 19.95% 12.18% 7.08% 30.66% 29.09% 13.32%
35.34% 24.56% 18.25% 18.36% 12.69% 8.16% 2.38%
11.72% 23.17% 20.34% 12.51% 11.53% 8.54% 3.60%
20.28% 22.01% 21.33% 20.43% 14.65% 10.22% 2.71%
17.99% 30.86% 27.62% 9.29% 36.00% 25.33% 5.94%
36.94% 14.31% 15.08% 24.19% 34.06% 23.75% 9.41%
46.04% 12.36% 12.02% 24.52% 14.77% 10.36% 2.30%
46.36% 13.96% 11.21% 23.53% 21.90% 16.06% 2.18%
37.64% 19.85% 15.81% 22.76% 9.94% 6.92% 1.74%
45.04% 15.81% 11.69% 9.48% 15.24% 12.24% 4.25%
29.75% 25.10% 20.50% 22.07% 26.36% 19.65% 8.24%
45.90% 15.41% 17.06% 24.65% 13.39% 10.04% 1.97%
54.15% 5.75% 11.21% 13.66% 12.24% 10.31% 0.80%
12.79% 26.14% 25.61% 33.79% 17.96% 10.45% 5.11%
27.31% 16.75% 23.41% 13.98% 38.57% 26.43% 6.99%
19.03% 11.99% 12.17% 21.13% 6.41% 4.13% 1.43%
51.90% 19.05% 11.71% 6.25% 18.09% 12.74% 2.50%
10.53% 3.32% 8.54% 5.94% 32.80% 23.79% 9.32%
18.47% 15.26% 16.76% 14.38% 16.31% 12.59% 4.11%
73.88% 9.58% 9.81% 19.27% 35.51% 27.99% 4.02%
57.83% -66.38% 20.12% 20.73% 17.26% 10.27% 1.30%
34.72% 8.95% 8.49% 1.21% 18.11% 16.08% 61.19%
29.34% 15.12% 13.91% 30.62% 31.92% 20.60% 7.24%
38.49% 14.49% 14.02% 19.12% 19.56% 15.62% 4.49%
10.21% 17.04% NA 8.87% NA NA NA
19.98% 29.70% 22.15% 20.10% 16.35% 13.16% 4.10%
20.68% 23.03% 22.65% 23.08% 9.37% 6.06% 1.82%
40.08% 16.17% 11.67% 34.23% 6.72% 4.31% 1.26%
20.85% 21.07% 17.82% 28.12% 11.59% 7.31% 2.26%
23.25% 19.89% 15.19% 25.68% 6.93% 4.47% 1.56%
82.22% -11.10% 15.35% 22.16% 33.95% 25.61% -1.40%
11.75% 22.18% 28.67% 10.48% 27.73% 21.97% 4.69%
11.98% 32.37% 29.91% 22.03% 23.75% 17.41% 4.57%
3.53% 28.40% 28.46% 30.35% 12.52% 8.44% 1.68%
24.34% 27.03% 21.54% 29.15% 12.53% 8.29% 4.36%
39.38% 20.96% 19.41% 29.90% 18.78% 14.41% 5.67%
11.28% 35.37% 26.58% 12.08% 13.97% 10.62% 2.81%
33.91% 16.18% 22.22% 15.90% 39.80% 28.38% 3.45%
8.85% 6.69% NA 17.04% NA NA NA
8.12% 70.43% 32.64% 20.25% 9.68% 6.66% 3.00%
27.80% 98.41% 23.11% 23.28% 12.03% 7.97% 3.04%
55.91% 12.03% 12.67% 33.19% 13.28% 8.54% 0.95%
38.58% 3.89% 9.93% 15.01% 15.29% 9.47% 0.01%
45.29% 0.63% 8.11% 35.46% 40.45% 25.93% 3.63%
26.67% 7.85% 10.21% 14.08% 18.28% 11.63% 3.52%
79.64% 17.72% 6.46% 6.70% 53.29% 47.57% 22.90%
40.21% 15.04% 11.67% 33.26% 20.82% 13.16% 2.96%
32.80% 20.64% 17.73% 16.67% 20.77% 14.61% 3.44%
Cap Ex/ Depreciation
Non-cash WC/ Revenues
Payout Ratio Reinvestment Rate
Sales/Capital EV/Sales
66.89% -15.13% 7.17% -1.16% 1.09 0.94
115.91% -0.61% 12.42% -0.05% 2.35 0.73
158.61% -8.01% 9.33% 13.68% 1.99 0.65
141.22% 19.55% 8.42% -0.71% 1.77 0.64
90.69% 13.27% 8.71% 6.48% 2.36 0.51
94.73% 6.44% 17.95% -4.20% 3.92 0.29
NA NA 36.07% 0.00% NA NA
NA NA 46.75% 0.00% NA NA
NA NA 54.64% 0.00% NA NA
115.01% 5.16% 23.38% 5.26% 1.29 1.99
128.27% 4.60% 0.49% 6.79% 0.87 5.71
130.86% 6.64% 14.30% 9.21% 1.08 0.85
102.79% -10.57% 11.78% 3.61% 0.56 2.20
211.40% -5.37% 11.45% 28.10% 0.88 1.61
109.34% 11.16% 16.37% -6.47% 1.84 0.88
118.69% 13.88% 19.75% -9.92% 1.67 1.15
109.81% 11.64% 17.73% -2.32% 1.84 0.90
139.17% 4.69% 20.71% 5.35% 1.28 1.26
89.63% -6.37% 10.17% -0.96% 2.12 1.93
95.27% -0.69% 6.33% -1.84% 3.75 0.70
146.86% 91.24% 20.12% -12.75% 0.60 1.96
61.72% 10.48% 25.99% -5.83% 1.00 2.63
146.25% -14.07% 1.20% 8.42% 1.43 1.86
106.44% -11.48% 2.31% 5.63% 4.01 2.75
218.97% 5.39% 31.65% 31.79% 0.70 1.65
206.28% 5.64% 29.52% 25.82% 0.68 1.93
218.34% 1.50% 24.77% 34.95% 0.70 1.57
126.55% 12.14% 13.79% -2.87% 1.79 1.00
122.53% 12.65% 7.35% 0.49% 2.32 0.32
91.06% -0.16% 11.91% -1.55% 0.67 1.27
66.84% -6.03% NA 51.10% 2.55 0.85
99.42% 3.48% 22.11% -4.43% 1.02 1.73
258.58% 28.75% 22.83% -612.73% 0.16 6.96
123.88% 6.15% 14.65% -7.14% 1.82 1.01
122.12% 0.94% 11.15% 4.36% 3.90 0.36
87.71% 8.53% 9.77% -6.57% 2.27 0.32
84.73% 13.15% 13.14% -0.04% 1.97 0.45
165.00% -0.29% 6.47% 18.50% 4.56 0.79
84.61% 4.58% 3.84% -6.78% 1.74 2.08
142.75% 1.17% 3.83% -4.58% 4.80 0.49
72.88% 57.77% NA NA 1.42 0.58
330.71% -3.58% 10.47% 52.78% 0.71 1.50
94.67% 5.69% 21.58% -2.39% 1.12 2.05
81.85% 5.48% 7.33% -7.15% 5.24 0.23
134.26% 6.88% 5.16% 7.60% 2.20 0.71
98.29% -1.64% 5.47% 0.90% 1.44 1.68
192725.00% NA 23.35% 0.00% NA NA
38706.98% NA 14.29% -0.07% NA NA
133.62% -6.83% 0.20% 6.25% 1.90 2.22
20.00% NA NA NA NA NA
84.21% NA 36.72% -1.55% NA NA
134.95% 16.14% 10.21% -1.51% 1.81 0.70
81.33% 5.71% 9.05% 9.17% 3.99 0.17
523.30% 7.18% 17.67% 69.70% 0.42 2.23
146.47% -6.66% 0.86% 5.72% 2.24 0.59
98.75% 6.59% 15.25% -3.33% 2.38 1.08
195.35% 10.84% 10.49% 8.66% 2.09 0.59
251.65% 5.81% 10.00% 10.91% 1.09 1.49
281.53% -3.94% 13.80% 50.53% 0.63 2.00
146.56% 5.17% 30.14% 8.35% 1.16 1.09
71.55% 3.05% 9.12% -4.55% 0.70 1.12
83.36% 9.33% 10.66% -5.75% 2.28 0.52
373.42% -0.45% 39.70% 47.94% 0.95 1.36
268.73% 12.70% 6.06% 18.86% 1.04 1.24
95.74% 5.96% 12.39% -3.29% 1.70 0.72
90.62% 11.37% 28.92% 0.62% 1.09 0.74
186.98% 2.22% 14.04% 12.52% 2.45 0.65
291.48% 2.89% 5.13% 42.65% 0.89 1.29
163.33% 5.33% 6.20% 2.63% 2.95 0.56
197.18% 6.96% 0.19% 12.47% 0.92 1.54
230.19% 0.02% 19.95% 51.75% 0.36 4.72
51.15% 10.13% 4.96% -14.88% 1.33 0.92
608.41% -17.86% 23.90% 94.40% 0.35 2.90
89.69% 4.17% 80.61% -1.09% 1.96 0.89
607.00% -4.12% 115.46% 242.89% 0.53 4.05
190.87% -4.11% 14.10% 18.83% 0.68 2.03
201.19% -0.80% 21.67% 20.73% 0.90 1.16
NA NA 12.85% 0.00% NA NA
178.56% -5.11% 21.18% 14.97% 1.68 1.57
139.68% 6.30% 9.70% 9.60% 3.74 0.40
233.04% 12.86% 1.96% 24.14% 2.70 0.47
242.53% 5.07% 14.55% 23.42% 2.44 0.72
202.23% 1.53% 11.18% 22.28% 3.40 0.54
166.76% 120.39% 28.02% 140.87% 0.60 1.82
110.68% 8.97% 21.82% 1.50% 1.30 1.31
95.15% 15.62% 5.01% 5.06% 1.72 0.81
135.60% 16.15% 11.89% 1.42% 3.37 0.84
187.15% 14.33% 9.43% -13.36% 2.60 0.55
124.02% 15.49% 6.35% -8.04% 1.35 0.59
71.60% 0.25% 13.06% -7.29% 2.50 0.90
190.13% -10.85% 21.11% -1.41% 0.78 1.69
NA NA 64.16% 422.33% NA NA
331.23% 0.78% 32.09% 24.30% 4.90 1.47
117.56% 8.54% 16.72% 0.78% 2.90 0.98
682.72% 5.27% 8.06% 170.96% 1.48 0.75
143.73% 4.62% 0.00% 0.00% 1.05 0.90
262.28% 1.68% 274.15% 18.42% 0.31 3.80
82.96% 6.91% 1.53% -32.77% 0.88 2.36
15.66% 33.11% 23.46% 0.73% 0.14 4.01
116.53% 0.96% 17.83% 1.70% 0.89 1.40
158.90% 9.07% 16.22% -30.90% 1.21 1.28