Compass Diversified Holdings
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Penke I guess you are interested in Compass Diversified Holdings. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Compass Diversified Holdings. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Compass Diversified Holdings (30 sec.)

What can you expect buying and holding a share of Compass Diversified Holdings? (30 sec.)

How much money do you get?

$1.28

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$20.17

Expected worth in 1 year

$22.26

How sure are you?

70.0%

+ What do you gain per year?

Total Gains per Share

$3.37

Return On Investment

14.7%

For what price can you sell your share?

Current Price per Share

$22.95

Expected price per share

$20.03 - $23.96

How sure are you?

50%

1. Valuation of Compass Diversified Holdings (5 min.)

Live pricePrice per Share (EOD)

$22.95

Book Value per Share

$20.17

Intrinsic Value Per Share

$-9.65 - $4.78

Total Value Per Share

$10.52 - $24.95

My calculation of the intrinsic value of Compass Diversified Holdings is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.16) 3Y: ($0.01) TTM: ($0.02)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.02) TTM: ($0.01)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$-0.13	$0.62	$-0.25 - $0.63
2	$-0.52	$1.21	$-0.53 - $0.61
3	$-1.13	$1.76	$-0.82 - $0.59
4	$-1.93	$2.28	$-1.10 - $0.57
5	$-2.90	$2.77	$-1.38 - $0.55
6	$-4.03	$3.23	$-1.67 - $0.53
7	$-5.28	$3.66	$-1.95 - $0.51
8	$-6.65	$4.06	$-2.24 - $0.49
9	$-8.11	$4.43	$-2.52 - $0.48
10	$-9.65	$4.78	$-2.80 - $0.46

2. Growth of Compass Diversified Holdings (5 min.)

Is Compass Diversified Holdings growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1.5b	$1.3b	$89.7m	6.2%

How much money is Compass Diversified Holdings making?

	Current year	Previous year	Grow	Grow %
Making money	$38.4m	$7.8m	$30.5m	79.5%
Net Profit Margin	8.9%	1.6%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Compass Diversified Holdings (5 min.)

4. Comparing to competitors in the Conglomerates industry (5 min.)

Industry Rankings (Conglomerates)

Richest
#78 / 246

Most Revenue
#93 / 246

Most Profit
#68 / 246

Most Efficient
#57 / 246

What can you expect buying and holding a share of Compass Diversified Holdings? (5 min.)

Welcome investor! Compass Diversified Holdings's management wants to use your money to grow the business. In return you get a share of Compass Diversified Holdings.

What can you expect buying and holding a share of Compass Diversified Holdings?

First you should know what it really means to hold a share of Compass Diversified Holdings. And how you can make/lose money.

Speculation

The Price per Share of Compass Diversified Holdings is $22.95. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Compass Diversified Holdings.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Compass Diversified Holdings, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $20.17. Based on the TTM, the Book Value Change Per Share is $0.52 per quarter. Based on the YOY, the Book Value Change Per Share is $0.26 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.32 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Compass Diversified Holdings.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	1.82	8.0%	0.77	3.4%	0.12	0.5%	0.47	2.0%	0.39	1.7%
Usd Book Value Change Per Share	1.72	7.5%	0.52	2.3%	0.26	1.1%	0.40	1.7%	0.32	1.4%
Usd Dividend Per Share	0.32	1.4%	0.32	1.4%	0.32	1.4%	0.41	1.8%	0.34	1.5%
Usd Total Gains Per Share	2.04	8.9%	0.84	3.7%	0.57	2.5%	0.81	3.5%	0.66	2.9%
Usd Price Per Share	22.45	-	20.50	-	20.37	-	20.97	-	18.91	-
Price to Earnings Ratio	3.08	-	5.48	-	-46.56	-	3.23	-	11.97	-
Price-to-Total Gains Ratio	11.01	-	-222.33	-	-36.41	-	-65.02	-	248.85	-
Price to Book Ratio	1.11	-	1.07	-	1.14	-	1.26	-	1.41	-
Price-to-Total Gains Ratio	11.01	-	-222.33	-	-36.41	-	-65.02	-	248.85	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	22.95
Number of shares	43

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.32	0.41
Usd Book Value Change Per Share	0.52	0.40
Usd Total Gains Per Share	0.84	0.81
Gains per Quarter (43 shares)	36.19	34.69
Gains per Year (43 shares)	144.75	138.76

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	55	90	135	70	69	129
2	110	180	280	140	137	268
3	165	270	425	211	206	407
4	220	359	570	281	274	546
5	274	449	715	351	343	685
6	329	539	860	421	411	824
7	384	629	1005	492	480	963
8	439	719	1150	562	548	1102
9	494	809	1295	632	617	1241
10	549	899	1440	702	685	1380

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	3.0	1.0	0.0	75.0%	8.0	4.0	0.0	66.7%	14.0	6.0	0.0	70.0%	27.0	13.0	0.0	67.5%	45.0	29.0	0.0	60.8%
Book Value Change Per Share	2.0	2.0	0.0	50.0%	7.0	5.0	0.0	58.3%	12.0	8.0	0.0	60.0%	21.0	19.0	0.0	52.5%	35.0	39.0	0.0	47.3%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	70.0	0.0	4.0	94.6%
Total Gains per Share	2.0	2.0	0.0	50.0%	8.0	4.0	0.0	66.7%	14.0	6.0	0.0	70.0%	28.0	12.0	0.0	70.0%	51.0	23.0	0.0	68.9%

Fundamentals of Compass Diversified Holdings

About Compass Diversified Holdings

https://compassdiversified.com
Conglomerates
4231
301 Riverside Avenue, Westport, CT, United States, 06880
Google Maps Bing Maps

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice. The firm prefers to invest in companies based in North America. It seeks to invest between $100 million and $800 million in companies with an EBITDA between $15 million to $80 million. It seeks to acquire controlling ownership interests in its portfolio companies and can make additional platform acquisitions. The firm prefer to have majority stake in companies. The firm invests through its balance sheet and typically holds investments between five to seven years. Compass Diversified was founded in 2006 and is based in Westport, Connecticut with an additional office in Costa Mesa, California.

Fundamental data was last updated by Penke on 2024-04-13 10:13:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is very able to pay all its short-term debts.
The company is able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is cheap.
Based on how much money comes from the company's main activities, the company is expensive.

1.1. Profitability of Compass Diversified Holdings.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Compass Diversified Holdings earns for each $1 of revenue.

Above 10% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
A Net Profit Margin of 32.5% means that $0.32 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Compass Diversified Holdings:

The MRQ is 32.5%. The company is making a huge profit. +2
The TTM is 8.9%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	32.5%	TTM	8.9%	+23.6%
TTM	8.9%	YOY	1.6%	+7.3%
TTM	8.9%	5Y	7.8%	+1.1%
5Y	7.8%	10Y	9.9%	-2.1%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	32.5%	3.6%	+28.9%
TTM	8.9%	3.6%	+5.3%
YOY	1.6%	4.0%	-2.4%
5Y	7.8%	3.3%	+4.5%
10Y	9.9%	3.8%	+6.1%

Measures how much net profit Compass Diversified Holdings earns for each $1 of revenue.

Revenue is the amount of profit Compass Diversified Holdings generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Compass Diversified Holdings earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be used to compare companies within the Conglomerates industry.

You typically want a high profit margin. This means that for each $1 in sales, Compass Diversified Holdings makes more profit. This shows the investor how efficiently Compass Diversified Holdings is operating in general and compared to other companies in the same industry. Compass Diversified Holdings operates in the Conglomerates industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Compass Diversified Holdings. If profit margins remain low (compared to the Conglomerates industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Compass Diversified Holdings is 0.32. This means that Compass Diversified Holdings earned $0.32 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Conglomerates industry is 3.6%.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Compass Diversified Holdings with other companies in the same industry (Conglomerates).
Net profit margin should rise over the years.
Can be influenced when Compass Diversified Holdings sells assets (profit will increase while costs remain the same).
It won’t show what part of Compass Diversified Holdings is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Compass Diversified Holdings

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Compass Diversified Holdings = 137,437
Total revenue MRQ Compass Diversified Holdings = 422,924
$137,437 / $422,924 = 0.32 or 32.5%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Compass Diversified Holdings is using its assets to generate profit.

Above 5% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
3.6% Return on Assets means that Compass Diversified Holdings generated $0.04 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Compass Diversified Holdings:

The MRQ is 3.6%. Using its assets, the company is less efficient in making profit.
The TTM is 1.0%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	3.6%	TTM	1.0%	+2.6%
TTM	1.0%	YOY	0.3%	+0.7%
TTM	1.0%	5Y	1.1%	-0.1%
5Y	1.1%	10Y	1.5%	-0.3%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	3.6%	0.8%	+2.8%
TTM	1.0%	0.9%	+0.1%
YOY	0.3%	1.2%	-0.9%
5Y	1.1%	0.8%	+0.3%
10Y	1.5%	0.9%	+0.6%

Shows how efficient Compass Diversified Holdings is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Compass Diversified Holdings is using its resources to generate profit. If the return on assets (3.6%) from Compass Diversified Holdings are higher than the Conglomerates mean (0.8%) that means Compass Diversified Holdings is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Compass Diversified Holdings is 3.6%. This means the company generated $0.04 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Conglomerates industry is 0.8%.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Compass Diversified Holdings

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Compass Diversified Holdings = 137,437
Total assets MRQ (balance sheet) from Compass Diversified Holdings = 3,816,981
137,437 / 3,816,981 = 0.04 or 3.6%

ROA is an important ratio as it will tell you how effectively Compass Diversified Holdings is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Compass Diversified Holdings is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
10.4% Return on Equity means Compass Diversified Holdings generated $0.10 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Compass Diversified Holdings:

The MRQ is 10.4%. Using its investors money, the company is less efficient in making profit.
The TTM is 2.9%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	10.4%	TTM	2.9%	+7.4%
TTM	2.9%	YOY	0.7%	+2.3%
TTM	2.9%	5Y	2.8%	+0.1%
5Y	2.8%	10Y	3.1%	-0.3%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	10.4%	2.0%	+8.4%
TTM	2.9%	2.4%	+0.5%
YOY	0.7%	3.6%	-2.9%
5Y	2.8%	2.4%	+0.4%
10Y	3.1%	2.6%	+0.5%

Shows how efficient Compass Diversified Holdings is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Conglomerates industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Compass Diversified Holdings is 10.4%. This means Compass Diversified Holdings generated $0.10 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Conglomerates industry is 2.0%.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if Compass Diversified Holdings existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Compass Diversified Holdings

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Compass Diversified Holdings = 137,437
Shareholders equity (balance sheet) MRQ Compass Diversified Holdings = 1,326,750
137,437 / 1,326,750 = 0.10 or 10.4%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Compass Diversified Holdings.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Compass Diversified Holdings is operating .

Measures how much profit Compass Diversified Holdings makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
An Operating Margin of 5.9% means the company generated $0.06 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Compass Diversified Holdings:

The MRQ is 5.9%. The company is operating less efficient.
The TTM is 8.5%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	5.9%	TTM	8.5%	-2.6%
TTM	8.5%	YOY	8.3%	+0.2%
TTM	8.5%	5Y	7.2%	+1.3%
5Y	7.2%	10Y	6.6%	+0.5%

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	5.9%	7.9%	-2.0%
TTM	8.5%	5.0%	+3.5%
YOY	8.3%	6.6%	+1.7%
5Y	7.2%	5.4%	+1.8%
10Y	6.6%	5.7%	+0.9%

Measures how efficient Compass Diversified Holdings is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Compass Diversified Holdings is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Compass Diversified Holdings is 5.9%. This means that Compass Diversified Holdings earned $0.06 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Conglomerates industry is 7.9%.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Compass Diversified Holdings

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Compass Diversified Holdings = -32,338
Total revenue MRQ Compass Diversified Holdings = 422,924
$-32,338 / $422,924 = 0.06 or 5.9%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Compass Diversified Holdings is keeping operating costs low.

Below 1 is considered healthy (always compare to Conglomerates industry mean).
An Operation Ratio of 0.94 means that the operating costs are $0.94 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Compass Diversified Holdings:

The MRQ is 0.942. The company is less efficient in keeping operating costs low.
The TTM is 0.915. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.942	TTM	0.915	+0.027
TTM	0.915	YOY	0.917	-0.002
TTM	0.915	5Y	0.926	-0.012
5Y	0.926	10Y	0.939	-0.013

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	0.942	1.521	-0.579
TTM	0.915	1.493	-0.578
YOY	0.917	1.393	-0.476
5Y	0.926	1.349	-0.423
10Y	0.939	1.267	-0.328

Measures how efficient Compass Diversified Holdings is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Compass Diversified Holdings is 94.2%. This means that Compass Diversified Holdings earned $0.94 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Conglomerates industry is 1.52.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Compass Diversified Holdings

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(258,540 +139,890) \ 422,924 = 0.94

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Compass Diversified Holdings.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Compass Diversified Holdings is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Conglomerates industry mean).
A Current Ratio of 5.13 means the company has $5.13 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Compass Diversified Holdings:

The MRQ is 5.135. The company is very able to pay all its short-term debts. +2
The TTM is 4.030. The company is very able to pay all its short-term debts. +2

Trends

Current period		Compared to		+/-
MRQ	5.135	TTM	4.030	+1.104
TTM	4.030	YOY	3.282	+0.748
TTM	4.030	5Y	3.285	+0.745
5Y	3.285	10Y	2.950	+0.336

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	5.135	1.453	+3.682
TTM	4.030	1.464	+2.566
YOY	3.282	1.471	+1.811
5Y	3.285	1.561	+1.724
10Y	2.950	1.500	+1.450

Measures if Compass Diversified Holdings is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Conglomerates industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Compass Diversified Holdings if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Compass Diversified Holdings is 5.13. This means Compass Diversified Holdings has $5.13 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Conglomerates industry is 1.45.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Compass Diversified Holdings

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
1,603,820 \ 312,358) = 5.13

The current ratio measures if Compass Diversified Holdings is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Compass Diversified Holdings is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Compass Diversified Holdings does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Compass Diversified Holdings is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Compass Diversified Holdings is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
A Quick Ratio of 2.46 means the company can pay off $2.46 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Compass Diversified Holdings:

The MRQ is 2.461. The company is very able to pay all its short-term debts with the most liquid assets. +2
The TTM is 1.458. The company is able to pay all its short-term debts with the most liquid assets. +1

Trends

Current period		Compared to		+/-
MRQ	2.461	TTM	1.458	+1.003
TTM	1.458	YOY	1.045	+0.413
TTM	1.458	5Y	1.464	-0.006
5Y	1.464	10Y	1.425	+0.039

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	2.461	0.703	+1.758
TTM	1.458	0.724	+0.734
YOY	1.045	0.800	+0.245
5Y	1.464	0.857	+0.607
10Y	1.425	0.832	+0.593

Measures if Compass Diversified Holdings is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Compass Diversified Holdings can pay off its short term debts. This shows if Compass Diversified Holdings can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Compass Diversified Holdings is 2.46. This means that Compass Diversified Holdings can pay off $2.46 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Conglomerates industry is 0.70.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Compass Diversified Holdings

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Compass Diversified Holdings: (450,477 + 0 +318,241) / 312,358 = 2.46

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Compass Diversified Holdings.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Compass Diversified Holdings assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Compass Diversified Holdings to Conglomerates industry mean.
A Debt to Asset Ratio of 0.60 means that Compass Diversified Holdings assets are financed with 60.2% credit (debt) and the remaining percentage (100% - 60.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Compass Diversified Holdings:

The MRQ is 0.602. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.620. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.602	TTM	0.620	-0.018
TTM	0.620	YOY	0.611	+0.008
TTM	0.620	5Y	0.556	+0.064
5Y	0.556	10Y	0.526	+0.030

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	0.602	0.560	+0.042
TTM	0.620	0.560	+0.060
YOY	0.611	0.564	+0.047
5Y	0.556	0.568	-0.012
10Y	0.526	0.558	-0.032

Measures how much % of Compass Diversified Holdings assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Compass Diversified Holdings than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Compass Diversified Holdings to Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Compass Diversified Holdings is 0.60. This means means that Compass Diversified Holdings is financed with 60.2% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Conglomerates industry is 145.3%.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Compass Diversified Holdings has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Compass Diversified Holdings

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
2,297,600 \ 3,816,981 = 60.2% or 0.60.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Compass Diversified Holdings is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Compass Diversified Holdings to the Conglomerates industry mean.
A Debt to Equity ratio of 173.2% means that company has $1.73 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Compass Diversified Holdings:

The MRQ is 1.732. The company is just able to pay all its debts with equity.
The TTM is 1.945. The company is just able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	1.732	TTM	1.945	-0.214
TTM	1.945	YOY	1.867	+0.079
TTM	1.945	5Y	1.493	+0.453
5Y	1.493	10Y	1.291	+0.201

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
MRQ	1.732	1.353	+0.379
TTM	1.945	1.342	+0.603
YOY	1.867	1.384	+0.483
5Y	1.493	1.587	-0.094
10Y	1.291	1.528	-0.237

Measures if Compass Diversified Holdings is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Compass Diversified Holdings is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Compass Diversified Holdings is 1.73. This means that Compass Diversified Holdings can pay off $1.73 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Conglomerates industry is 1.35.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Compass Diversified Holdings

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
2,297,600 \ 1,326,750 = 1.73 or 173.2%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Compass Diversified Holdings

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Compass Diversified Holdings generates.

Above 15 is considered overpriced but always compare Compass Diversified Holdings to the Conglomerates industry mean.
A PE ratio of 3.08 means the investor is paying $3.08 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Compass Diversified Holdings:

The EOD is 3.144. Based on the earnings, the company is cheap. +2
The MRQ is 3.076. Based on the earnings, the company is cheap. +2
The TTM is 5.479. Based on the earnings, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	3.144	MRQ	3.076	+0.069
MRQ	3.076	TTM	5.479	-2.403
TTM	5.479	YOY	-46.563	+52.043
TTM	5.479	5Y	3.234	+2.245
5Y	3.234	10Y	11.970	-8.736

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	3.144	7.754	-4.610
MRQ	3.076	7.568	-4.492
TTM	5.479	7.805	-2.326
YOY	-46.563	7.115	-53.678
5Y	3.234	9.241	-6.007
10Y	11.970	13.828	-1.858

Measures how much money you pay for each share for every $1 in earnings Compass Diversified Holdings generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Compass Diversified Holdings to the Conglomerates industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Compass Diversified Holdings is 3.08. This means the investor is paying $3.08 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Conglomerates industry is 7.57.
What is the trend?
The trend is important because it shows you how Compass Diversified Holdings is performing over time. The most recent quarter might be important if Compass Diversified Holdings released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Compass Diversified Holdings up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Compass Diversified Holdings

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 72,429 = EPS
PE ratio MRQ = 3.08

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Compass Diversified Holdings:

The EOD is 48.019. Based on how much money comes from the company's main activities, the company is fair priced.
The MRQ is 46.973. Based on how much money comes from the company's main activities, the company is fair priced.
The TTM is -155.498. Based on how much money comes from the company's main activities, the company is expensive. -2

Trends

Current period		Compared to		+/-
EOD	48.019	MRQ	46.973	+1.046
MRQ	46.973	TTM	-155.498	+202.471
TTM	-155.498	YOY	-19.818	-135.680
TTM	-155.498	5Y	-28.939	-126.559
5Y	-28.939	10Y	-11.132	-17.807

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	48.019	2.101	+45.918
MRQ	46.973	2.155	+44.818
TTM	-155.498	0.929	-156.427
YOY	-19.818	0.557	-20.375
5Y	-28.939	1.054	-29.993
10Y	-11.132	0.553	-11.685

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Compass Diversified Holdings is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Conglomerates industry mean).
A PB ratio of 1.11 means the investor is paying $1.11 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Compass Diversified Holdings:

The EOD is 1.138. Based on the equity, the company is underpriced. +1
The MRQ is 1.113. Based on the equity, the company is underpriced. +1
The TTM is 1.069. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.138	MRQ	1.113	+0.025
MRQ	1.113	TTM	1.069	+0.044
TTM	1.069	YOY	1.137	-0.068
TTM	1.069	5Y	1.262	-0.192
5Y	1.262	10Y	1.410	-0.148

Compared to industry (Conglomerates)

Period	Company	Industry (mean)	+/-
EOD	1.138	0.947	+0.191
MRQ	1.113	0.971	+0.142
TTM	1.069	0.976	+0.093
YOY	1.137	1.093	+0.044
5Y	1.262	1.131	+0.131
10Y	1.410	1.352	+0.058

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Compass Diversified Holdings.

3.1. Institutions holding Compass Diversified Holdings

Institutions are holding 56.573% of the shares of Compass Diversified Holdings.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	American Century Companies Inc	7.4416	0.0865	5601284	-57480	-1.0158
2023-12-31	Vanguard Group Inc	6.6677	0.0025	5018774	-25215	-0.4999
2023-12-31	BlackRock Inc	4.9614	0.0021	3734444	358130	10.6071
2023-12-31	Allspring Global Investments Holdings, LLC	4.9026	0.1373	3690210	3673132	21507.9752
2023-12-31	William Blair Investment Management, LLC	2.2875	0.1125	1721825	-31871	-1.8174
2023-12-31	Manufacturers Life Insurance Co	2.1698	0.0219	1633222	126072	8.3649
2023-12-31	GW&K Investment Management, LLC	1.8916	0.2981	1423799	-75636	-5.0443
2023-12-31	Schroder Investment Management Group	1.7081	0.0374	1285725	-66186	-4.8957
2023-12-31	State Street Corporation	1.5027	0.0012	1131122	50571	4.6801
2023-12-31	Royce & Associates, LP	1.3637	0.2128	1026449	20793	2.0676
2023-12-31	Royal Bank of Canada	1.2687	0.005	954920	-17882	-1.8382
2023-12-31	Essex Financial Services, Inc.	1.0285	1.7967	774143	-1112	-0.1434
2023-12-31	Blair William & Co	0.9576	0.0551	720774	-2437	-0.337
2023-12-31	UBS Group AG	0.9417	0.0048	708786	71075	11.1453
2023-12-31	Geode Capital Management, LLC	0.9393	0.0017	707029	36811	5.4924
2023-12-31	SEI Investments Co	0.8531	0.0231	642136	-14587	-2.2212
2023-12-31	Legal & General Group PLC	0.8116	0.0035	610864	24760	4.2245
2023-12-31	Charles Schwab Investment Management Inc	0.8009	0.0034	602837	15643	2.664
2023-12-31	Lord, Abbett & Co LLC	0.6347	0.0385	477750	-6011	-1.2426
2023-12-31	Northern Trust Corp	0.5729	0.0018	431230	-34021	-7.3124
Total		43.7057	2.8459	32897323	+4044549	+12.3%

3.2. Funds holding Compass Diversified Holdings

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	American Century U.S. Small Cap Value	6.0316	1.7327	4540000	-55000	-1.197
2023-12-31	American Century Small Cap Value Inv	6.0316	1.7299	4540000	-55000	-1.197
2024-02-29	Allspring Special Small Cap Value A	4.7163	1.4533	3550000	-20800	-0.5825
2024-02-29	Vanguard Total Stock Mkt Idx Inv	2.4808	0.0028	1867334	0	0
2024-03-28	iShares Russell 2000 ETF	2.1057	0.0583	1584982	765	0.0483
2024-02-29	Vanguard Small Cap Index	2.0946	0.0258	1576591	15996	1.025
2024-01-31	JHancock Small Cap Core NAV	1.9603	1.7211	1475527	0	0
2024-02-29	Vanguard Small Cap Value Index Inv	1.4208	0.0463	1069457	4464	0.4192
2023-12-31	Royce Small-Cap Total Return Invmt	1.0234	1.6932	770336	45166	6.2283
2023-12-31	Royce Small-Cap Quality Value Composite	1.0234	1.6932	770336	45166	6.2283
2024-02-29	William Blair Small Cap Value I	0.9581	1.2388	721177	0	0
2024-01-31	Fidelity Small Cap Index	0.8565	0.0574	644721	7577	1.1892
2023-12-31	American Century US Small Cap Val Eq Tr	0.8027	1.7345	604181	-22360	-3.5688
2024-03-28	iShares Russell 2000 Value ETF	0.7996	0.1155	601854	-382	-0.0634
2023-12-31	Schroder US Smaller Companies Acc	0.7516	1.3939	565730	0	0
2024-02-29	Lord Abbett Value Opportunities I	0.7429	1.0282	559170	559170	0
2024-03-29	Schwab Fundamental US Small Company ETF	0.4921	0.1069	370398	1725	0.4679
2024-02-29	State St Russell Sm/Mid Cp® Indx NL Cl C	0.4793	0.0199	360742	3300	0.9232
2024-03-31	Bridge Builder Small/Mid Cap Value	0.4566	0.1017	343662	0	0
2024-02-29	Lord Abbett Small Cap Value A	0.4426	1.9463	333120	0	0
Total		35.6705	17.8997	26849318	+529787	+2.0%

3.3. Insider Transactions

Insiders are holding 13.122% of the shares of Compass Diversified Holdings.

Date	Owner	Type	Amount	Price
2024-03-08	Cgi Magyar Holdings Llc	SELL	7510	24.92
2024-01-31	Patrick A Maciariello	BUY	10000	22.35
2024-01-26	Elias Sabo	BUY	30000	22.95
2024-01-24	Elias Sabo	BUY	30000	22.1
2024-01-18	James Bottiglieri	BUY	5123	21.4
2023-12-15	Anholt Investments Ltd.	SELL	1961	24.32
2023-12-13	Anholt Investments Ltd.	SELL	14041	23.4
2023-12-11	Anholt Investments Ltd.	SELL	3914	24.36
2023-12-08	Anholt Investments Ltd.	SELL	400	24.35
2023-12-06	Anholt Investments Ltd.	SELL	6463	23.95
2023-12-04	Anholt Investments Ltd.	SELL	2592	24.31
2023-12-01	Anholt Investments Ltd.	SELL	6768	23.85
2023-11-29	Anholt Investments Ltd.	SELL	3954	23.1
2023-11-20	Anholt Investments Ltd.	SELL	11125	23.63
2023-10-05	Anholt Investments Ltd.	BUY	2400	18.11
2023-10-03	Anholt Investments Ltd.	BUY	33402	18.12
2023-09-25	Ryan J Faulkingham	BUY	3000	18.69
2023-09-06	Patrick A Maciariello	BUY	10000	20.21
2023-08-07	Elias Sabo	BUY	5000	22.18
2023-08-04	Elias Sabo	BUY	45000	22.38

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Compass Diversified Holdings compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	1.721	0.522	+229%	0.257	+570%	0.398	+332%	0.315	+446%
Book Value Per Share	-	-	20.171	19.155	+5%	17.963	+12%	16.739	+21%	13.934	+45%
Current Ratio	-	-	5.135	4.030	+27%	3.282	+56%	3.285	+56%	2.950	+74%
Debt To Asset Ratio	-	-	0.602	0.620	-3%	0.611	-2%	0.556	+8%	0.526	+14%
Debt To Equity Ratio	-	-	1.732	1.945	-11%	1.867	-7%	1.493	+16%	1.291	+34%
Dividend Per Share	-	-	0.319	0.319	0%	0.315	+1%	0.408	-22%	0.341	-7%
Eps	-	-	1.825	0.771	+137%	0.121	+1411%	0.470	+288%	0.394	+363%
Free Cash Flow Per Share	-	-	0.119	0.022	+433%	-0.307	+357%	0.117	+2%	0.162	-26%
Free Cash Flow To Equity Per Share	-	-	-1.238	-0.249	-80%	1.541	-180%	0.442	-380%	0.563	-320%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	4.782	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-9.647	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	0.624	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	-0.134	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	1.765	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	-1.127	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	2.772	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-2.905	-	-	-	-	-	-	-	-
Market Cap	1728672030.000	+2%	1691010330.000	1543941391.500	+10%	1534337658.000	+10%	1579494036.300	+7%	1424158354.650	+19%
Net Profit Margin	-	-	0.325	0.089	+264%	0.016	+1904%	0.078	+316%	0.099	+229%
Operating Margin	-	-	0.059	0.085	-31%	0.083	-29%	0.072	-18%	0.066	-11%
Operating Ratio	-	-	0.942	0.915	+3%	0.917	+3%	0.926	+2%	0.939	+0%
Pb Ratio	1.138	+2%	1.113	1.069	+4%	1.137	-2%	1.262	-12%	1.410	-21%
Pe Ratio	3.144	+2%	3.076	5.479	-44%	-46.563	+1614%	3.234	-5%	11.970	-74%
Price Per Share	22.950	+2%	22.450	20.498	+10%	20.370	+10%	20.970	+7%	18.907	+19%
Price To Free Cash Flow Ratio	48.019	+2%	46.973	-155.498	+431%	-19.818	+142%	-28.939	+162%	-11.132	+124%
Price To Total Gains Ratio	11.252	+2%	11.007	-222.327	+2120%	-36.411	+431%	-65.023	+691%	248.845	-96%
Quick Ratio	-	-	2.461	1.458	+69%	1.045	+135%	1.464	+68%	1.425	+73%
Return On Assets	-	-	0.036	0.010	+257%	0.003	+1252%	0.011	+220%	0.015	+147%
Return On Equity	-	-	0.104	0.029	+254%	0.007	+1438%	0.028	+273%	0.031	+231%
Total Gains Per Share	-	-	2.040	0.842	+142%	0.572	+256%	0.807	+153%	0.657	+211%
Usd Book Value	-	-	1519381000.000	1442841500.000	+5%	1353054750.000	+12%	1260858500.000	+21%	1049561525.000	+45%
Usd Book Value Change Per Share	-	-	1.721	0.522	+229%	0.257	+570%	0.398	+332%	0.315	+446%
Usd Book Value Per Share	-	-	20.171	19.155	+5%	17.963	+12%	16.739	+21%	13.934	+45%
Usd Dividend Per Share	-	-	0.319	0.319	0%	0.315	+1%	0.408	-22%	0.341	-7%
Usd Eps	-	-	1.825	0.771	+137%	0.121	+1411%	0.470	+288%	0.394	+363%
Usd Free Cash Flow	-	-	9000000.000	1689750.000	+433%	-23141250.000	+357%	8794500.000	+2%	12195675.000	-26%
Usd Free Cash Flow Per Share	-	-	0.119	0.022	+433%	-0.307	+357%	0.117	+2%	0.162	-26%
Usd Free Cash Flow To Equity Per Share	-	-	-1.238	-0.249	-80%	1.541	-180%	0.442	-380%	0.563	-320%
Usd Market Cap	1728672030.000	+2%	1691010330.000	1543941391.500	+10%	1534337658.000	+10%	1579494036.300	+7%	1424158354.650	+19%
Usd Price Per Share	22.950	+2%	22.450	20.498	+10%	20.370	+10%	20.970	+7%	18.907	+19%
Usd Profit	-	-	137437000.000	38473000.000	+257%	7876500.000	+1645%	31229750.000	+340%	28556050.000	+381%
Usd Revenue	-	-	422924000.000	514719000.000	-18%	554659500.000	-24%	462937500.000	-9%	379474125.000	+11%
Usd Total Gains Per Share	-	-	2.040	0.842	+142%	0.572	+256%	0.807	+153%	0.657	+211%
	EOD	+4 -4	MRQ	TTM	+25 -10	YOY	+27 -8	5Y	+24 -11	10Y	+21 -14

4.2. Fundamental Score

Let's check the fundamental score of Compass Diversified Holdings based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	3.144
Price to Book Ratio (EOD)	Between	0-1	1.138
Net Profit Margin (MRQ)	Greater than	0	0.325
Operating Margin (MRQ)	Greater than	0	0.059
Quick Ratio (MRQ)	Greater than	1	2.461
Current Ratio (MRQ)	Greater than	1	5.135
Debt to Asset Ratio (MRQ)	Less than	1	0.602
Debt to Equity Ratio (MRQ)	Less than	1	1.732
Return on Equity (MRQ)	Greater than	0.15	0.104
Return on Assets (MRQ)	Greater than	0.05	0.036
Total			6/10 (60.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
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4.3. Technical Score

Let's check the technical score of Compass Diversified Holdings based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	48.404
Ma 20	Greater than	Ma 50	23.197
Ma 50	Greater than	Ma 100	23.065
Ma 100	Greater than	Ma 200	22.211
Open	Greater than	Close	22.870
Total			3/5 (60.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

		2022-12-31		2023-03-31		2023-06-30		2023-09-30		2023-12-31
Operating Income		37,805	11,092	48,897	-3,822	45,075	-16,640	28,435	-60,773	-32,338

Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	3,816,981
Total Liabilities	2,297,600
Total Stockholder Equity	1,326,750

	As reported
Total Liabilities	2,297,600
Total Stockholder Equity	+ 1,326,750
Total Assets	= 3,816,981

Assets

Total Assets	3,816,981
Total Current Assets	1,603,820
Long-term Assets	2,213,161

Total Current Assets

Total Current Assets (as reported)	1,603,820
Cash And Cash Equivalents	450,477
Net Receivables	318,241
Inventory	740,387
Other Current Assets	94,715
Total Current Assets (calculated)	1,603,820
+/-	0

Long-term Assets

Long-term Assets (as reported)	2,213,161
Property Plant Equipment	192,562
Goodwill	901,428
Intangible Assets	923,905
Long-term Assets Other	195,266
Long-term Assets (calculated)	2,213,161
+/-	0

Liabilities & Shareholders' Equity

Total Current Liabilities	312,358
Long-term Liabilities	1,985,242
Total Stockholder Equity	1,326,750

Total Current Liabilities

Total Current Liabilities (as reported)	312,358
Short-term Debt	10,000
Short Long Term Debt	10,000
Accounts payable	93,412
Other Current Liabilities	201,596
Total Current Liabilities (calculated)	315,008
+/-	2,650

Long-term Liabilities

Long-term Liabilities (as reported)	1,985,242
Long term Debt	1,661,879
Long-term Liabilities Other	203,232
Long-term Liabilities (calculated)	1,865,111
+/-	120,131

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,326,750
Common Stock	1,281,303
Accumulated Other Comprehensive Income	111
Other Stockholders Equity	-9,339
Total Stockholder Equity (calculated)	1,272,075
+/-	54,675

Other

Capital Stock	1,585,221
Cash and Short Term Investments	450,477
Common Stock Shares Outstanding	72,429
Current Deferred Revenue	7,350
Liabilities and Stockholders Equity	3,816,981
Net Debt	1,221,402
Net Invested Capital	2,694,711
Net Working Capital	1,291,462
Property Plant and Equipment Gross	429,363
Short Long Term Debt Total	1,671,879

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-03-31

2004-12-31

> Total Assets

139,987
0
141,752
6,354
458,427
510,972
525,597
574,337
652,722
708,217
828,002
1,019,219
1,012,245
984,520
984,336
806,088
852,381
850,676
831,012
924,050
949,782
1,027,749
984,041
971,053
976,368
1,252,112
1,029,906
1,073,192
1,004,224
989,811
955,201
965,498
980,292
1,107,681
1,044,913
1,096,182
1,129,440
1,344,862
1,547,430
1,508,855
1,530,696
1,476,136
1,425,645
1,392,239
1,449,731
1,845,754
1,777,155
1,686,507
1,802,945
1,820,806
1,820,303
2,257,746
2,271,296
2,437,765
2,372,335
2,369,626
2,385,991
2,134,220
1,891,892
2,045,497
2,141,524
2,191,984
2,598,518
3,291,164
2,661,147
2,840,293
3,144,261
3,137,529
3,203,333
3,841,297
3,849,631
3,757,925
3,795,693
3,810,812
3,816,981

3,816,981

3,810,812

3,795,693

3,757,925

3,849,631

3,841,297

3,203,333

3,137,529

3,144,261

2,840,293

2,661,147

3,291,164

2,598,518

2,191,984

2,141,524

2,045,497

1,891,892

2,134,220

2,385,991

2,369,626

2,372,335

2,437,765

2,271,296

2,257,746

1,820,303

1,820,806

1,802,945

1,686,507

1,777,155

1,845,754

1,449,731

1,392,239

1,425,645

1,476,136

1,530,696

1,508,855

1,547,430

1,344,862

1,129,440

1,096,182

1,044,913

1,107,681

980,292

965,498

955,201

989,811

1,004,224

1,073,192

1,029,906

1,252,112

976,368

971,053

984,041

1,027,749

949,782

924,050

831,012

850,676

852,381

806,088

984,336

984,520

1,012,245

1,019,219

828,002

708,217

652,722

574,337

525,597

510,972

458,427

6,354

141,752

139,987

> Total Current Assets

0
0
0
6,354
122,458
137,035
140,356
133,442
204,544
183,156
299,241
296,061
380,425
358,038
335,201
225,512
282,379
287,578
275,027
294,369
327,860
373,458
333,339
328,531
334,467
405,539
360,221
293,778
301,526
295,969
267,659
285,589
312,086
443,860
399,133
407,413
443,053
268,898
320,799
316,293
339,775
357,721
291,363
299,603
247,561
455,190
452,819
514,726
489,497
509,560
526,818
632,554
648,082
711,810
681,185
705,205
1,086,122
881,457
644,272
814,463
747,987
800,675
708,367
1,380,996
772,600
864,361
1,143,469
1,151,192
1,229,683
1,194,550
1,210,185
1,208,618
1,247,173
1,315,437
1,603,820

1,603,820

1,315,437

1,247,173

1,208,618

1,210,185

1,194,550

1,229,683

1,151,192

1,143,469

864,361

772,600

1,380,996

708,367

800,675

747,987

814,463

644,272

881,457

1,086,122

705,205

681,185

711,810

648,082

632,554

526,818

509,560

489,497

514,726

452,819

455,190

247,561

299,603

291,363

357,721

339,775

316,293

320,799

268,898

443,053

407,413

399,133

443,860

312,086

285,589

267,659

295,969

301,526

293,778

360,221

405,539

334,467

328,531

333,339

373,458

327,860

294,369

275,027

287,578

282,379

225,512

335,201

358,038

380,425

296,061

299,241

183,156

204,544

133,442

140,356

137,035

122,458

6,354

Cash And Cash Equivalents

533
0
992
100
16,113
13,049
7,006
8,692
73,228
6,397
119,358
14,033
100,221
89,676
97,473
32,420
58,152
46,997
31,495
22,144
15,112
24,468
13,536
17,120
9,241
10,564
132,370
22,363
16,017
19,989
18,241
16,500
17,848
151,163
113,229
86,622
115,349
23,269
23,703
20,450
25,379
88,725
85,869
72,567
21,160
26,389
39,772
115,281
39,287
41,487
39,885
46,325
37,456
36,156
48,771
39,837
485,864
285,838
100,314
291,013
205,228
176,819
70,744
63,193
110,166
70,239
157,125
97,345
102,709
61,252
61,271
53,656
67,354
64,737
450,477

450,477

64,737

67,354

53,656

61,271

61,252

102,709

97,345

157,125

70,239

110,166

63,193

70,744

176,819

205,228

291,013

100,314

285,838

485,864

39,837

48,771

36,156

37,456

46,325

39,885

41,487

39,287

115,281

39,772

26,389

21,160

72,567

85,869

88,725

25,379

20,450

23,703

23,269

115,349

86,622

113,229

151,163

17,848

16,500

18,241

19,989

16,017

22,363

132,370

10,564

9,241

17,120

13,536

24,468

15,112

22,144

31,495

46,997

58,152

32,420

97,473

89,676

100,221

14,033

119,358

6,397

73,228

8,692

7,006

13,049

16,113

100

992

533

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
647,688
0
0
0
0
0
0
0
0
0
0
0

647,688

Net Receivables

0
0
0
0
84,062
91,142
74,899
98,484
104,230
126,398
125,043
199,653
184,841
192,907
164,035
119,917
140,020
159,539
165,550
173,465
196,745
233,010
208,487
204,237
208,151
253,541
99,389
120,338
118,449
119,532
100,647
119,354
127,279
129,011
111,736
129,563
137,215
128,658
157,535
153,511
161,015
124,240
114,320
127,432
125,314
173,921
181,191
172,885
194,823
198,111
215,108
256,807
272,707
308,627
205,545
263,494
187,321
221,423
191,405
184,103
192,177
242,947
232,507
242,471
231,369
258,941
268,262
265,287
268,530
326,266
341,440
326,744
296,291
349,839
318,241

318,241

349,839

296,291

326,744

341,440

326,266

268,530

265,287

268,262

258,941

231,369

242,471

232,507

242,947

192,177

184,103

191,405

221,423

187,321

263,494

205,545

308,627

272,707

256,807

215,108

198,111

194,823

172,885

181,191

173,921

125,314

127,432

114,320

124,240

161,015

153,511

157,535

128,658

137,215

129,563

111,736

129,011

127,279

119,354

100,647

119,532

118,449

120,338

99,389

253,541

208,151

204,237

208,487

233,010

196,745

173,465

165,550

159,539

140,020

119,917

164,035

192,907

184,841

199,653

125,043

126,398

104,230

98,484

74,899

91,142

84,062

Inventory

0
0
0
0
11,667
22,162
4,756
9,216
10,910
33,238
38,339
51,406
55,581
50,418
50,909
47,639
55,396
53,583
51,727
59,457
79,260
86,599
77,412
77,831
88,235
108,970
101,021
124,631
139,162
135,499
127,283
129,247
143,109
143,982
152,948
168,598
166,723
95,790
111,214
114,166
125,232
74,296
68,371
78,994
81,813
231,987
212,984
208,326
229,465
242,817
246,928
294,736
300,263
328,548
307,437
313,910
327,657
332,221
317,306
305,636
317,301
344,036
363,373
384,300
387,262
486,596
562,084
617,159
695,687
725,902
732,428
764,029
788,283
801,887
740,387

740,387

801,887

788,283

764,029

732,428

725,902

695,687

617,159

562,084

486,596

387,262

384,300

363,373

344,036

317,301

305,636

317,306

332,221

327,657

313,910

307,437

328,548

300,263

294,736

246,928

242,817

229,465

208,326

212,984

231,987

81,813

78,994

68,371

74,296

125,232

114,166

111,214

95,790

166,723

168,598

152,948

143,982

143,109

129,247

127,283

135,499

139,162

124,631

101,021

108,970

88,235

77,831

77,412

86,599

79,260

59,457

51,727

53,583

55,396

47,639

50,909

50,418

55,581

51,406

38,339

33,238

10,910

9,216

4,756

22,162

11,667

> Long-term Assets

0
0
0
0
335,969
373,937
385,241
440,895
448,178
525,061
528,761
723,158
631,820
626,482
649,135
580,576
570,002
563,098
555,985
629,681
621,922
654,291
650,702
642,522
641,901
846,573
669,685
779,414
702,698
693,842
687,542
679,909
668,206
663,821
645,780
688,769
686,387
1,075,964
1,226,631
1,192,562
1,190,921
1,118,415
1,134,282
1,092,636
1,202,170
1,390,564
1,324,336
1,171,781
1,313,448
1,311,246
1,293,485
1,625,192
1,623,214
1,725,955
1,691,150
1,664,421
1,299,869
1,252,763
1,247,620
1,231,034
1,393,537
1,391,309
1,890,151
1,910,168
1,888,547
1,975,932
2,000,792
1,986,337
1,973,650
2,646,747
2,639,446
2,549,307
2,548,520
2,495,375
2,213,161

2,213,161

2,495,375

2,548,520

2,549,307

2,639,446

2,646,747

1,973,650

1,986,337

2,000,792

1,975,932

1,888,547

1,910,168

1,890,151

1,391,309

1,393,537

1,231,034

1,247,620

1,252,763

1,299,869

1,664,421

1,691,150

1,725,955

1,623,214

1,625,192

1,293,485

1,311,246

1,313,448

1,171,781

1,324,336

1,390,564

1,202,170

1,092,636

1,134,282

1,118,415

1,190,921

1,192,562

1,226,631

1,075,964

686,387

688,769

645,780

663,821

668,206

679,909

687,542

693,842

702,698

779,414

669,685

846,573

641,901

642,522

650,702

654,291

621,922

629,681

555,985

563,098

570,002

580,576

649,135

626,482

631,820

723,158

528,761

525,061

448,178

440,895

385,241

373,937

335,969

Property Plant Equipment

3,081
0
2,876
0
19,451
22,110
10,858
19,710
21,838
27,017
28,743
39,581
30,593
29,804
30,763
29,316
27,818
26,353
25,502
33,011
32,000
32,177
33,484
35,407
39,633
50,329
45,235
66,367
64,612
63,733
68,488
67,504
64,669
66,382
68,059
71,477
70,470
93,019
115,871
113,613
111,521
109,640
118,050
118,085
124,474
145,447
142,370
143,172
157,588
170,827
173,081
200,230
212,610
226,270
146,601
306,991
143,313
142,291
146,428
143,799
150,229
155,601
172,669
177,307
176,228
169,507
178,393
179,177
182,989
193,749
205,474
202,729
204,804
203,512
192,562

192,562

203,512

204,804

202,729

205,474

193,749

182,989

179,177

178,393

169,507

176,228

177,307

172,669

155,601

150,229

143,799

146,428

142,291

143,313

306,991

146,601

226,270

212,610

200,230

173,081

170,827

157,588

143,172

142,370

145,447

124,474

118,085

118,050

109,640

111,521

113,613

115,871

93,019

70,470

71,477

68,059

66,382

64,669

67,504

68,488

63,733

64,612

66,367

45,235

50,329

39,633

35,407

33,484

32,177

32,000

33,011

25,502

26,353

27,818

29,316

30,763

29,804

30,593

39,581

28,743

27,017

21,838

19,710

10,858

22,110

19,451

2,876

3,081

Goodwill

59,307
0
59,295
0
167,981
189,448
159,151
218,652
225,717
265,025
267,141
354,657
311,953
314,346
339,095
288,669
288,522
288,272
288,028
328,234
328,227
320,264
325,851
319,766
319,766
325,312
245,340
292,829
259,248
257,014
257,527
257,527
257,527
257,527
246,611
259,982
258,717
324,165
359,180
351,496
350,958
376,064
398,488
413,735
488,990
485,054
491,637
489,877
630,143
539,925
531,689
728,276
645,102
736,947
471,115
611,883
471,400
438,019
438,519
438,519
506,252
508,464
766,003
786,345
786,251
912,203
815,405
791,174
788,913
1,194,251
1,133,404
1,066,726
1,072,951
1,041,469
901,428

901,428

1,041,469

1,072,951

1,066,726

1,133,404

1,194,251

788,913

791,174

815,405

912,203

786,251

786,345

766,003

508,464

506,252

438,519

438,019

471,400

611,883

471,115

736,947

645,102

728,276

531,689

539,925

630,143

489,877

491,637

485,054

488,990

413,735

398,488

376,064

350,958

351,496

359,180

324,165

258,717

259,982

246,611

257,527

257,014

259,248

292,829

245,340

325,312

319,766

325,851

320,264

328,227

328,234

288,028

288,272

288,522

288,669

339,095

314,346

311,953

354,657

267,141

265,025

225,717

218,652

159,151

189,448

167,981

59,295

59,307

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
234,185
245,214
231,767
242,948
254,733
249,747
191,439
210,328
197,742
141,767
0
0
0
0
0
0
539
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

539

141,767

197,742

210,328

191,439

249,747

254,733

242,948

231,767

245,214

234,185

Intangible Assets

67,424
0
66,166
0
135,692
143,678
128,890
180,311
177,343
209,017
204,298
305,331
261,874
255,684
249,489
234,684
229,155
222,987
216,365
247,096
239,619
280,219
269,672
260,099
252,487
437,015
358,104
389,655
355,787
348,218
340,666
333,099
324,849
317,557
310,359
336,334
331,121
399,959
487,220
477,217
467,626
361,660
353,404
358,373
365,169
549,014
539,211
529,579
516,512
591,878
580,517
687,622
753,210
750,072
615,592
733,347
588,618
575,354
561,946
548,730
633,331
619,925
837,165
820,658
802,198
780,340
872,677
879,345
860,261
1,096,020
1,127,936
1,102,360
1,096,260
1,069,995
923,905

923,905

1,069,995

1,096,260

1,102,360

1,127,936

1,096,020

860,261

879,345

872,677

780,340

802,198

820,658

837,165

619,925

633,331

548,730

561,946

575,354

588,618

733,347

615,592

750,072

753,210

687,622

580,517

591,878

516,512

529,579

539,211

549,014

365,169

358,373

353,404

361,660

467,626

477,217

487,220

399,959

331,121

336,334

310,359

317,557

324,849

333,099

340,666

348,218

355,787

389,655

358,104

437,015

252,487

260,099

269,672

280,219

239,619

247,096

216,365

222,987

229,155

234,684

249,489

255,684

261,874

305,331

204,298

209,017

177,343

180,311

128,890

143,678

135,692

66,166

67,424

Long-term Assets Other

0
0
0
0
12,845
18,701
86,342
22,222
23,280
24,002
28,579
23,589
27,400
26,648
29,788
21,254
18,286
19,712
26,090
16,277
17,439
17,337
21,695
23,861
26,603
31,052
21,006
30,563
13,810
16,129
20,861
14,035
12,682
13,580
20,751
13,058
12,852
-82,415
7,949
-79,173
-78,952
-84,749
14,593
-94,604
-91,224
-90,591
9,351
9,153
9,205
8,616
8,198
9,064
12,292
12,666
457,842
12,200
96,538
97,099
100,727
99,986
103,725
107,319
114,314
125,858
123,870
113,882
134,317
136,641
62,130
9,525
172,632
37,847
174,505
180,399
195,266

195,266

180,399

174,505

37,847

172,632

9,525

62,130

136,641

134,317

113,882

123,870

125,858

114,314

107,319

103,725

99,986

100,727

97,099

96,538

12,200

457,842

12,666

12,292

9,064

8,198

8,616

9,205

9,153

9,351

-90,591

-91,224

-94,604

14,593

-84,749

-78,952

-79,173

7,949

-82,415

12,852

13,058

20,751

13,580

12,682

14,035

20,861

16,129

13,810

30,563

21,006

31,052

26,603

23,861

21,695

17,337

17,439

16,277

26,090

19,712

18,286

21,254

29,788

26,648

27,400

23,589

28,579

24,002

23,280

22,222

86,342

18,701

12,845

> Total Liabilities

96,076
0
88,617
6,255
174,433
211,697
242,755
262,980
173,273
231,360
367,426
516,193
447,632
427,404
440,458
311,934
321,321
331,205
322,946
432,307
396,692
509,803
408,131
432,812
428,922
641,328
433,428
537,251
501,573
498,418
498,989
525,555
554,491
502,186
475,978
533,692
569,119
626,705
739,096
744,486
757,085
571,101
552,426
550,683
642,701
1,011,729
882,611
832,073
896,712
921,564
894,304
1,264,455
1,301,264
1,483,738
1,452,993
1,368,845
1,209,210
1,053,965
726,017
910,414
944,642
1,001,291
1,378,370
2,080,320
1,488,150
1,641,577
1,859,731
1,834,101
1,848,487
2,449,314
2,487,669
2,313,292
2,378,088
2,421,065
2,297,600

2,297,600

2,421,065

2,378,088

2,313,292

2,487,669

2,449,314

1,848,487

1,834,101

1,859,731

1,641,577

1,488,150

2,080,320

1,378,370

1,001,291

944,642

910,414

726,017

1,053,965

1,209,210

1,368,845

1,452,993

1,483,738

1,301,264

1,264,455

894,304

921,564

896,712

832,073

882,611

1,011,729

642,701

550,683

552,426

571,101

757,085

744,486

739,096

626,705

569,119

533,692

475,978

502,186

554,491

525,555

498,989

498,418

501,573

537,251

433,428

641,328

428,922

432,812

408,131

509,803

396,692

432,307

322,946

331,205

321,321

311,934

440,458

427,404

447,632

516,193

367,426

231,360

173,273

262,980

242,755

211,697

174,433

6,255

88,617

96,076

> Total Current Liabilities

41,499
0
44,514
6,255
66,064
83,295
162,872
172,962
81,804
125,360
106,613
230,828
175,548
154,713
139,370
119,467
130,661
149,002
129,887
216,756
176,850
189,727
151,404
195,744
182,471
187,411
118,162
123,483
133,132
127,869
113,799
132,645
134,893
136,939
130,130
131,198
127,992
107,837
141,231
124,031
140,958
134,792
116,479
109,426
124,595
166,166
202,521
166,805
203,276
211,206
212,193
216,041
241,840
282,971
259,280
250,112
218,661
254,750
209,479
195,580
230,822
283,776
294,715
904,417
313,147
343,828
381,528
356,264
365,335
376,890
359,831
344,871
330,874
354,321
312,358

312,358

354,321

330,874

344,871

359,831

376,890

365,335

356,264

381,528

343,828

313,147

904,417

294,715

283,776

230,822

195,580

209,479

254,750

218,661

250,112

259,280

282,971

241,840

216,041

212,193

211,206

203,276

166,805

202,521

166,166

124,595

109,426

116,479

134,792

140,958

124,031

141,231

107,837

127,992

131,198

130,130

136,939

134,893

132,645

113,799

127,869

133,132

123,483

118,162

187,411

182,471

195,744

151,404

189,727

176,850

216,756

129,887

149,002

130,661

119,467

139,370

154,713

175,548

230,828

106,613

125,360

81,804

172,962

162,872

83,295

66,064

6,255

44,514

41,499

Short-term Debt

0
0
0
0
0
0
87,604
98,351
2,655
26,864
4,814
44,654
2,000
2,000
2,000
29,386
31,167
38,708
24,626
91,894
35,027
22,844
20,170
19,943
20,366
20,775
2,250
2,250
2,550
2,550
2,550
2,550
2,850
2,850
2,850
5,350
5,750
3,250
3,250
3,250
3,250
3,250
3,250
3,250
3,250
5,685
5,685
5,685
5,685
5,685
5,685
5,685
5,000
5,000
5,000
24,574
5,000
5,000
-24,990
0
0
0
-73,303
600,000
0
0
186,506
0
25,713
10,000
10,000
10,000
10,000
10,000
10,000

10,000

25,713

186,506

600,000

-73,303

-24,990

5,000

24,574

5,000

5,685

3,250

5,750

5,350

2,850

2,550

2,250

20,775

20,366

19,943

20,170

22,844

35,027

91,894

24,626

38,708

31,167

29,386

2,000

44,654

4,814

26,864

2,655

98,351

87,604

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,248
0
0
0
7,164
0
3,250
5,685
9,695
5,685
564,103
8,875
8,153
7,019
5,922
5,553
5,582
5,000
5,000
5,000
0
0
0
0
0
600,000
0
0
0
0
0
10,000
10,000
10,000
10,000
10,000
10,000

10,000

600,000

5,000

5,582

5,553

5,922

7,019

8,153

8,875

564,103

5,685

9,695

5,685

3,250

7,164

5,248

Accounts payable

4,947
0
8,777
0
59,565
65,074
14,314
74,102
78,332
97,972
40,410
57,610
46,794
43,049
48,699
31,402
40,041
42,750
45,089
41,420
53,005
65,950
53,197
53,199
150,845
63,541
50,626
70,295
74,383
64,028
52,207
67,737
125,218
67,511
118,129
66,623
65,336
43,602
62,099
58,981
73,439
50,602
98,362
52,651
105,005
55,111
152,553
59,273
78,024
77,417
191,411
85,295
103,718
105,865
77,169
91,341
74,833
87,753
178,857
63,069
78,514
98,192
253,798
102,325
90,375
111,039
120,405
93,354
110,680
100,511
94,214
279,762
268,521
291,294
93,412

93,412

291,294

268,521

279,762

94,214

100,511

110,680

93,354

120,405

111,039

90,375

102,325

253,798

98,192

78,514

63,069

178,857

87,753

74,833

91,341

77,169

105,865

103,718

85,295

191,411

77,417

78,024

59,273

152,553

55,111

105,005

52,651

98,362

50,602

73,439

58,981

62,099

43,602

65,336

66,623

118,129

67,511

125,218

67,737

52,207

64,028

74,383

70,295

50,626

63,541

150,845

53,199

53,197

65,950

53,005

41,420

45,089

42,750

40,041

31,402

48,699

43,049

46,794

57,610

40,410

97,972

78,332

74,102

14,314

65,074

59,565

8,777

4,947

Other Current Liabilities

34,515
0
33,700
6,255
6,499
18,221
19,617
509
817
524
50,633
120,170
44,598
29,036
2,533
3,303
2,636
2,667
-225
2,843
2,556
1,983
3,580
6,989
869
977
2,802
777
1,571
7,155
-4,940
7,658
2,875
4,184
-50,873
4,050
4,760
6,269
-21,849
6,044
3,894
28,664
-88,878
9,974
10,253
13,024
-66,555
13,013
14,000
15,493
-65,952
5,873
4,749
16,181
102,152
7,764
26,650
30,648
22,573
132,511
152,308
185,584
30,679
31,941
222,772
232,789
61,815
262,910
149,585
113,177
245,413
55,109
36,951
35,797
201,596

201,596

35,797

36,951

55,109

245,413

113,177

149,585

262,910

61,815

232,789

222,772

31,941

30,679

185,584

152,308

132,511

22,573

30,648

26,650

7,764

102,152

16,181

4,749

5,873

-65,952

15,493

14,000

13,013

-66,555

13,024

10,253

9,974

-88,878

28,664

3,894

6,044

-21,849

6,269

4,760

4,050

-50,873

4,184

2,875

7,658

-4,940

7,155

1,571

777

2,802

977

869

6,989

3,580

1,983

2,556

2,843

-225

2,667

2,636

3,303

2,533

29,036

44,598

120,170

50,633

524

817

509

19,617

18,221

6,499

6,255

33,700

34,515

> Long-term Liabilities

0
0
0
0
108,369
128,402
79,883
90,018
91,469
106,000
260,813
285,365
272,084
272,691
301,088
192,467
190,660
182,203
193,059
215,551
219,842
320,076
256,727
237,068
246,451
453,917
315,266
413,768
368,441
370,549
385,190
392,910
419,598
365,247
345,848
402,494
441,127
518,868
597,865
620,455
616,127
436,309
435,947
441,257
518,106
845,563
680,090
665,268
693,436
710,358
682,111
1,048,414
1,059,424
1,200,767
1,193,713
1,118,733
990,549
799,215
516,538
714,834
713,820
717,515
1,083,655
1,175,903
1,175,003
1,297,749
1,478,203
1,477,837
1,483,152
2,072,424
2,127,838
1,968,421
2,047,214
2,066,744
1,985,242

1,985,242

2,066,744

2,047,214

1,968,421

2,127,838

2,072,424

1,483,152

1,477,837

1,478,203

1,297,749

1,175,003

1,175,903

1,083,655

717,515

713,820

714,834

516,538

799,215

990,549

1,118,733

1,193,713

1,200,767

1,059,424

1,048,414

682,111

710,358

693,436

665,268

680,090

845,563

518,106

441,257

435,947

436,309

616,127

620,455

597,865

518,868

441,127

402,494

345,848

365,247

419,598

392,910

385,190

370,549

368,441

413,768

315,266

453,917

246,451

237,068

256,727

320,076

219,842

215,551

193,059

182,203

190,660

192,467

301,088

272,691

272,084

285,365

260,813

106,000

91,469

90,018

79,883

128,402

108,369

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
297,307
280,389
319,471
359,986
404,467
485,547
504,177
503,532
313,888
313,242
308,208
385,776
714,954
551,652
545,536
548,546
569,755
584,347
932,299
963,851
1,104,348
1,098,871
955,395
869,918
680,513
394,445
594,664
591,787
592,107
899,460
986,059
988,349
0
1,284,826
0
0
0
1,824,468
0
0
0
0

1,824,468

1,284,826

988,349

986,059

899,460

592,107

591,787

594,664

394,445

680,513

869,918

955,395

1,098,871

1,104,348

963,851

932,299

584,347

569,755

548,546

545,536

551,652

714,954

385,776

308,208

313,242

313,888

503,532

504,177

485,547

404,467

359,986

319,471

280,389

297,307

Capital Lease Obligations Min Short Term Debt

0
0
0
0
0
0
-87,604
-98,351
-2,655
-26,864
-4,814
-44,654
-2,000
-2,000
-2,000
-29,386
-31,167
-38,708
-24,626
-91,894
-35,027
-22,844
-20,170
-19,943
-20,366
-20,775
-2,250
-2,250
-2,550
-2,550
-2,550
-2,550
-2,850
-2,850
-2,850
-5,350
-5,750
-3,250
-3,250
-3,250
-3,250
-3,250
-3,250
-3,250
-3,250
-5,685
-5,685
-5,685
-5,685
-5,685
-5,685
-5,685
-5,000
-5,000
-5,000
85,701
-5,000
-5,000
24,990
0
0
0
73,303
-600,000
0
0
-186,506
0
-25,713
-10,000
-10,000
-10,000
-10,000
-10,000
-10,000

-10,000

-25,713

-186,506

-600,000

73,303

24,990

-5,000

85,701

-5,000

-5,685

-3,250

-5,750

-5,350

-2,850

-2,550

-2,250

-20,775

-20,366

-19,943

-20,170

-22,844

-35,027

-91,894

-24,626

-38,708

-31,167

-29,386

-2,000

-44,654

-4,814

-26,864

-2,655

-98,351

-87,604

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
5,740
5,435
23,831
23,483
7,350
14,587
18,636
15,775
21,354
18,960
27,441
27,897
26,711
17,600
16,500
18,352
18,570
16,715
39,577
18,310
18,212
19,883
102,315
159,138
87,427
89,054
88,444
93,691
94,554
100,654
104,588
101,145
90,415
109,033
109,675
118,048
134,857
146,728
153,205
152,075
157,850
203,232

203,232

157,850

152,075

153,205

146,728

134,857

118,048

109,675

109,033

90,415

101,145

104,588

100,654

94,554

93,691

88,444

89,054

87,427

159,138

102,315

19,883

18,212

18,310

39,577

16,715

18,570

18,352

16,500

17,600

26,711

27,897

27,441

18,960

21,354

15,775

18,636

14,587

7,350

23,483

23,831

5,435

5,740

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
62,200
60,024
59,192
57,658
107,051
97,731
97,642
96,820
101,067
103,745
105,608
104,433
103,898
110,838
103,232
126,538
122,033
81,049
76,538
77,263
78,207
74,959
61,023
33,813
31,275
33,039
31,726
28,342
30,854
83,541
85,256
7,365
6,977
84,344
6,202
5,814
7,635
156,642
0
6,429
6,028
0

6,028

6,429

156,642

7,635

5,814

6,202

84,344

6,977

7,365

85,256

83,541

30,854

28,342

31,726

33,039

31,275

33,813

61,023

74,959

78,207

77,263

76,538

81,049

122,033

126,538

103,232

110,838

103,898

104,433

105,608

103,745

101,067

96,820

97,642

97,731

107,051

57,658

59,192

60,024

62,200

> Total Stockholder Equity

43,911
0
53,135
99
269,471
273,319
255,711
286,497
451,566
446,464
432,850
419,382
485,406
479,606
464,447
429,056
461,369
450,946
437,161
409,058
468,968
425,049
488,070
448,527
454,905
458,795
497,509
478,428
449,974
436,496
414,628
398,116
380,452
512,547
473,385
460,804
449,441
679,980
767,431
722,831
728,592
868,411
826,084
793,625
777,202
797,798
856,405
814,323
862,268
851,616
873,208
943,621
916,292
896,318
859,372
948,594
1,130,804
1,032,810
1,115,327
1,081,275
1,129,066
1,119,899
1,100,024
1,084,877
1,041,861
1,039,900
1,111,816
1,133,142
1,177,509
1,171,565
1,136,920
1,214,941
1,176,790
1,139,578
1,326,750

1,326,750

1,139,578

1,176,790

1,214,941

1,136,920

1,171,565

1,177,509

1,133,142

1,111,816

1,039,900

1,041,861

1,084,877

1,100,024

1,119,899

1,129,066

1,081,275

1,115,327

1,032,810

1,130,804

948,594

859,372

896,318

916,292

943,621

873,208

851,616

862,268

814,323

856,405

797,798

777,202

793,625

826,084

868,411

728,592

722,831

767,431

679,980

449,441

460,804

473,385

512,547

380,452

398,116

414,628

436,496

449,974

478,428

497,509

458,795

454,905

448,527

488,070

425,049

468,968

409,058

437,161

450,946

461,369

429,056

464,447

479,606

485,406

419,382

432,850

446,464

451,566

286,497

255,711

273,319

269,471

53,135

43,911

Common Stock

6
0
7
100
269,471
275,092
274,961
268,826
443,633
443,634
443,705
433,459
423,213
412,969
443,705
443,705
485,843
485,790
485,790
485,790
560,819
560,767
638,763
638,759
638,759
658,447
658,361
658,361
648,036
648,036
650,043
650,043
650,043
650,043
725,453
725,453
725,453
725,453
825,321
825,321
825,321
825,321
825,321
823,736
825,321
825,321
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
924,680
1,008,588
1,008,564
1,008,564
1,008,564
1,008,564
1,027,086
1,123,193
1,143,354
1,185,348
1,207,082
1,207,044
1,206,996
1,206,953
1,206,917
1,281,303

1,281,303

1,206,917

1,206,953

1,206,996

1,207,044

1,207,082

1,185,348

1,143,354

1,123,193

1,027,086

1,008,564

1,008,588

924,680

825,321

823,736

825,321

725,453

650,043

648,036

658,361

658,447

638,759

638,763

560,767

560,819

485,790

485,843

443,705

412,969

423,213

433,459

443,705

443,634

443,633

268,826

274,961

275,092

269,471

100

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
425,801
-137,625
-252,761
-265,333
-276,800
-45,319
-55,348
-99,798
-94,889
50,063
10,567
-25,004
-41,667
-19,706
-58,760
-101,929
-153,439
-167,297
-145,316
-171,034
-195,318
-216,929
-249,453
-165,490
17,715
-78,728
-109,338
-141,866
-177,912
-188,136
-211,002
-226,631
-270,671
-289,799
-314,267
-313,902
-311,092
-336,842
-372,906
-291,605
-328,507
0
0

-328,507

-291,605

-372,906

-336,842

-311,092

-313,902

-314,267

-289,799

-270,671

-226,631

-211,002

-188,136

-177,912

-141,866

-109,338

-78,728

17,715

-165,490

-249,453

-216,929

-195,318

-171,034

-145,316

-167,297

-153,439

-101,929

-58,760

-19,706

-41,667

-25,004

10,567

50,063

-94,889

-99,798

-55,348

-45,319

-276,800

-265,333

-252,761

-137,625

425,801

Accumulated Other Comprehensive Income

0
0
0
0
-558
-1,526
-1,580
-1,580
-3,773
-4,975
-6,734
-2,427
1,000
426
-5,242
-2,596
-2,330
-2,349
-2,001
-1,682
-1,104
-674
-143
-23,233
-25,797
-28,346
-23,025
30
-787
-363
-132
-850
-557
129
693
684
788
-154
-2,542
-2,692
-1,840
-6,973
-9,804
-5,107
-6,452
-7,817
-9,515
-8,428
-5,550
-2,184
-2,573
-3,155
-5,991
-4,354
-8,776
-3,517
-4,512
-6,063
-3,933
-5,457
-5,528
-4,447
-1,456
-974
50
-1,305
-1,028
-228
-665
-2,593
-1,136
-414
282
-1,186
111

111

-1,186

282

-414

-1,136

-2,593

-665

-228

-1,028

-1,305

-974

-1,456

-4,447

-5,528

-5,457

-3,933

-6,063

-4,512

-3,517

-8,776

-4,354

-5,991

-3,155

-2,573

-2,184

-5,550

-8,428

-9,515

-7,817

-6,452

-5,107

-9,804

-6,973

-1,840

-2,692

-2,542

-154

788

684

693

129

-557

-850

-132

-363

-787

-23,025

-28,346

-25,797

-23,233

-143

-674

-1,104

-1,682

-2,001

-2,349

-2,330

-2,596

-5,242

426

1,000

-2,427

-6,734

-4,975

-3,773

-1,580

-1,526

-558

Capital Surplus

Treasury Stock

-562,490

-568,935

-605,495

-425,801

Other Stockholders Equity

0
0
0
0
270,029
276,618
276,541
270,406
447,406
448,609
450,439
433,459
423,453
412,969
443,705
443,705
485,843
485,790
485,790
485,790
560,819
560,767
638,763
638,759
0
658,447
658,361
0
648,036
648,036
649,911
650,043
650,043
650,043
726,146
725,453
725,453
725,453
822,779
825,321
825,321
825,321
815,517
823,736
825,321
825,321
-9,515
-8,428
-5,550
-2,184
-2,573
-3,155
-5,991
-4,354
-8,776
189,404
188,409
186,858
-3,933
-5,457
-5,528
374,265
594,000
609,172
624,454
1,489,820
1,284,530
-1,677
1,177,509
1,484,431
1,414,800
-3,954
-5,856
-7,391
-9,339

-9,339

-7,391

-5,856

-3,954

1,414,800

1,484,431

1,177,509

-1,677

1,284,530

1,489,820

624,454

609,172

594,000

374,265

-5,528

-5,457

-3,933

186,858

188,409

189,404

-8,776

-4,354

-5,991

-3,155

-2,573

-2,184

-5,550

-8,428

-9,515

825,321

823,736

815,517

825,321

822,779

725,453

726,146

650,043

649,911

648,036

658,361

658,447

638,759

638,763

560,767

560,819

485,790

485,843

443,705

412,969

423,453

433,459

450,439

448,609

447,406

270,406

276,541

276,618

270,029

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Accounts Payable	93,412	94,214	120,405	253,798	178,857	77,169	191,411	152,553	98,362	62,099	118,129	52,207	50,626	53,197	45,089	48,699	40,410	14,314	8,777	4,947
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	111	-1,136	-1,028	-1,456	-3,933	-8,776	-2,573	-9,515	-9,804	-2,542	693	-132	-23,025	-143	-2,001	-5,242	-6,734	-1,580	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	568,935	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	1,585,221	1,510,962	1,427,111	1,312,482	1,228,598	1,117,601	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	450,477	61,271	157,125	70,744	100,314	48,771	39,885	39,772	85,869	23,703	113,229	18,241	132,370	13,536	31,495	97,473	119,358	7,006	100	533
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	450,477	61,271	157,125	70,744	100,314	48,771	39,885	39,772	85,869	23,703	113,229	18,241	132,370	13,536	31,495	97,473	119,358	7,006	100	0
Common Stock	1,281,303	1,207,044	1,123,193	1,008,564	924,680	924,680	924,680	924,680	825,321	825,321	725,453	650,043	658,361	638,763	485,790	443,705	443,705	274,961	100	6
Common Stock Shares Outstanding	72,105	70,715	65,362	63,151	59,900	59,900	59,900	54,591	54,300	49,089	48,300	48,300	48,300	40,928	34,403	31,525	27,629	12,686	1	0
Common Stock Total Equity	0	1,207,044	1,123,193	1,008,564	924,680	924,680	924,680	924,680	825,321	825,321	725,453	650,043	0	0	0	0	0	0	100	0
Current Deferred Revenue	7,350	10,204	12,802	7,955	-18,892	11,944	7,796	20,848	5,863	69,571	4,528	51,904	63,607	76,994	57,606	57,109	10,756	38,586	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	156,642	84,344	83,541	33,039	74,959	81,049	110,838	103,745	97,731	60,024	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	901,428	1,133,404	815,405	766,003	438,519	471,115	531,689	491,637	398,488	359,180	246,611	257,527	245,340	325,851	288,028	339,095	267,141	159,151	59,295	59,307
Intangible Assets	923,905	1,127,936	872,677	837,165	561,946	615,592	580,517	539,211	353,404	487,220	310,359	340,666	358,104	269,672	216,365	249,489	204,298	128,890	67,953	69,867
Inventory	740,387	732,428	562,084	363,373	317,306	307,437	246,928	212,984	68,371	111,214	152,948	127,283	101,021	77,412	51,727	50,909	38,339	4,756	0	0
Liabilities And Stockholders Equity	3,816,981	3,849,631	3,144,261	2,598,518	1,891,892	2,372,335	1,820,303	1,777,155	1,425,645	1,547,430	1,044,913	955,201	1,029,906	984,041	831,012	984,336	828,002	525,597	3,408	0
Long Term Debt	1,661,879	1,824,468	1,284,826	899,460	394,445	1,098,871	584,347	551,652	313,242	485,547	280,389	267,008	214,000	94,000	74,000	151,000	148,000	0	31,154	43,893
Long Term Debt Total	0	1,824,468	1,284,826	899,460	394,445	1,098,871	584,347	551,652	313,242	485,547	280,389	0	0	0	0	0	0	0	0	0
Long Term Investments	0	0	0	0	0	0	0	141,767	249,747	245,214	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,221,402	1,773,197	1,127,701	828,716	294,131	1,055,100	550,147	517,565	230,623	465,094	170,010	251,317	83,880	100,634	67,131	55,527	33,456	80,598	-100	0
Net Invested Capital	2,694,711	2,667,470	2,092,724	1,695,566	1,205,854	1,770,322	1,366,823	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	318,241	341,440	268,262	232,507	191,405	205,545	215,108	181,191	114,320	157,535	111,736	100,647	99,389	208,487	165,550	164,035	125,043	74,899	0	0
Net Tangible Assets	0	-1,428,338	-882,798	-807,062	-189,056	-785,873	-335,415	-174,443	74,192	-78,969	-83,585	0	0	0	0	0	0	0	0	0
Net Working Capital	1,291,462	850,354	761,941	413,652	434,793	421,905	314,625	250,298	174,884	179,568	269,003	153,860	242,059	181,935	145,140	195,831	192,628	-22,516	99	0
Non Current Assets Total	2,213,161	2,639,446	2,000,792	1,890,151	1,247,620	1,691,150	1,293,485	1,324,336	1,134,282	1,226,631	645,780	687,542	669,685	650,702	555,985	649,135	528,761	385,241	0	0
Non Current Liabilities Other	203,232	146,728	109,033	100,654	89,054	19,883	16,715	17,600	18,960	14,587	5,435	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	1,985,242	2,127,838	1,478,203	1,083,655	516,538	1,193,713	682,111	680,090	435,947	597,865	345,848	385,190	315,266	256,727	193,059	301,088	260,813	79,883	0	0
Non Currrent Assets Other	195,266	15,990	134,317	114,314	100,727	457,842	8,198	-101,487	-89,152	-78,585	12,534	12,623	14,064	17,873	20,764	29,788	28,579	86,342	0	0
Noncontrolling Interest In Consolidated Entity	0	225,042	175,328	120,124	50,548	59,970	52,791	38,139	47,135	40,903	95,550	0	0	0	0	0	0	0	0	0
Other Assets	0	18,943	134,317	114,314	100,727	457,842	425,329	9,351	22,642	47,493	41,971	42,349	48,447	55,599	52,345	52,572	45,080	140,037	7,091	5,415
Other Current Assets	94,715	75,046	56,575	41,743	35,247	29,670	24,897	18,872	22,803	28,347	21,220	21,488	27,441	33,904	26,255	22,784	16,501	46,636	3,308	4,746
Other Current Liab	201,596	245,413	61,815	40,917	30,622	165,167	7,301	23,435	9,004	6,311	4,623	7,138	1,679	1,043	2,566	31,562	50,633	22,368	3,309	34,515
Other Liab	0	158,648	193,377	184,195	45,138	93,342	94,125	121,729	113,136	87,169	68,876	111,742	104,068	184,477	140,960	152,621	104,972	99,500	46,649	45,102
Other Stockholder Equity	-9,339	1,414,800	1,177,509	594,000	354,533	253,115	149,635	-9,515	825,321	825,321	725,453	650,043	658,361	638,763	485,790	443,705	450,439	276,541	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	303,918	303,918	303,918	303,918	192,921	96,417	0	0	0	568,935	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	429,363	431,992	345,386	172,669	146,428	226,817	173,081	142,370	118,050	115,871	68,059	68,488	45,235	33,484	25,502	30,763	28,743	10,858	0	0
Property Plant And Equipment Net	192,562	205,474	178,393	172,669	146,428	146,601	173,081	142,370	118,050	115,871	68,059	68,488	45,235	33,484	25,502	30,763	28,743	10,858	0	0
Property Plant Equipment	0	205,474	178,393	172,669	146,428	226,817	173,081	142,370	118,050	115,871	68,059	68,488	45,235	33,484	25,502	30,763	28,743	10,858	2,876	3,080
Retained Earnings	-249,243	-372,906	-314,267	-211,002	-109,338	-249,453	-145,316	-58,760	10,567	-55,348	-252,761	-235,283	-160,852	-150,550	-46,628	25,984	-10,855	-19,250	-1	0
Retained Earnings Total Equity	0	-372,906	-314,267	-211,002	-109,338	-249,453	-145,316	-58,760	10,567	-55,348	-252,761	0	0	0	0	0	0	0	0	0
Short Long Term Debt	10,000	10,000	0	0	0	5,000	5,685	5,685	7,164	5,248	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	1,671,879	1,834,468	1,284,826	899,460	394,445	1,103,871	590,032	557,337	316,492	488,797	283,239	269,558	216,250	114,170	98,626	153,000	152,814	87,604	0	0
Short Term Debt	10,000	10,000	186,506	-7,955	18,892	5,000	5,685	5,685	3,250	3,250	2,850	2,550	2,250	20,170	24,626	2,000	4,814	87,604	0	0
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	568,935	0	0	0	0	0	0	0	0	0
Total Assets	3,816,981	3,849,631	3,144,261	2,598,518	1,891,892	2,372,335	1,820,303	1,777,155	1,425,645	1,547,430	1,044,913	955,201	1,029,906	984,041	831,012	984,336	828,002	525,597	3,408	139,987
Total Current Assets	1,603,820	1,210,185	1,143,469	708,367	644,272	681,185	526,818	452,819	291,363	320,799	399,133	267,659	360,221	333,339	275,027	335,201	299,241	140,356	3,408	0
Total Current Liabilities	312,358	359,831	381,528	294,715	209,479	259,280	212,193	202,521	116,479	141,231	130,130	113,799	118,162	151,404	129,887	139,370	106,613	162,872	3,309	41,499
Total Liab	2,297,600	2,487,669	1,859,731	1,378,370	726,017	1,452,993	894,304	882,611	552,426	739,096	475,978	498,989	433,428	408,131	322,946	440,458	367,426	242,755	3,309	96,076
Total Permanent Equity	0	0	0	0	0	0	925,999	894,544	0	0	568,935	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,326,750	1,136,920	1,111,816	1,100,024	1,115,327	859,372	873,208	856,405	826,084	767,431	473,385	414,628	497,509	488,070	437,161	464,447	432,850	255,711	99	43,911
Treasury Stock	0	0	0	0	0	0	0	0	0	0	-568,935	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-03-31	2004-12-31
Accounts Payable	93,412	291,294	268,521	279,762	94,214	100,511	110,680	93,354	120,405	111,039	90,375	102,325	253,798	98,192	78,514	63,069	178,857	87,753	74,833	91,341	77,169	105,865	103,718	85,295	191,411	77,417	78,024	59,273	152,553	55,111	105,005	52,651	98,362	50,602	73,439	58,981	62,099	43,602	65,336	66,623	118,129	67,511	125,218	67,737	52,207	64,028	74,383	70,295	50,626	63,541	150,845	53,199	53,197	65,950	53,005	41,420	45,089	42,750	40,041	31,402	48,699	43,049	46,794	57,610	40,410	97,972	78,332	74,102	14,314	65,074	59,565	0	8,777	-	4,947
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Accumulated Other Comprehensive Income	111	-1,186	282	-414	-1,136	-2,593	-665	-228	-1,028	-1,305	50	-974	-1,456	-4,447	-5,528	-5,457	-3,933	-6,063	-4,512	-3,517	-8,776	-4,354	-5,991	-3,155	-2,573	-2,184	-5,550	-8,428	-9,515	-7,817	-6,452	-5,107	-9,804	-6,973	-1,840	-2,692	-2,542	-154	788	684	693	129	-557	-850	-132	-363	-787	30	-23,025	-28,346	-25,797	-23,233	-143	-674	-1,104	-1,682	-2,001	-2,349	-2,330	-2,596	-5,242	426	1,000	-2,427	-6,734	-4,975	-3,773	-1,580	-1,580	-1,526	-558	0	0	-	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	562,490	568,935	605,495	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	110,275	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Stock	1,585,221	1,510,835	1,510,871	1,510,914	1,510,962	1,511,000	1,489,266	1,447,272	1,427,111	1,331,004	1,312,482	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Capital Surpluse	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash	450,477	64,737	67,354	53,656	61,271	61,252	102,709	97,345	157,125	70,239	110,166	63,193	70,744	176,819	205,228	291,013	100,314	285,838	485,864	39,837	48,771	36,156	37,456	46,325	39,885	41,487	39,287	115,281	39,772	26,389	21,160	72,567	85,869	88,725	25,379	20,450	23,703	23,269	115,349	86,622	113,229	151,163	17,848	16,500	18,241	19,989	16,017	22,363	132,370	10,564	9,241	17,120	13,536	24,468	15,112	22,144	31,495	46,997	58,152	32,420	97,473	89,676	100,221	14,033	119,358	6,397	73,228	8,692	7,006	13,049	16,113	100	992	-	533
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Cash And Short Term Investments	450,477	64,737	67,354	53,656	61,271	61,252	102,709	97,345	157,125	70,239	110,166	710,881	70,744	176,819	205,228	291,013	100,314	285,838	485,864	39,837	48,771	36,156	37,456	46,325	39,885	41,487	39,287	115,281	39,772	26,389	21,160	72,567	85,869	88,725	25,379	20,450	23,703	23,269	115,349	86,622	113,229	151,163	17,848	16,500	18,241	19,989	16,017	22,363	132,370	10,564	9,241	17,120	13,536	24,468	15,112	22,144	31,495	46,997	58,152	32,420	97,473	89,676	100,221	14,033	119,358	6,397	73,228	8,692	7,006	13,049	16,113	100	0	-	0
Common Stock	1,281,303	1,206,917	1,206,953	1,206,996	1,207,044	1,207,082	1,185,348	1,143,354	1,123,193	1,027,086	1,008,564	1,008,564	1,008,564	1,008,564	1,008,588	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	825,321	825,321	823,736	825,321	825,321	825,321	825,321	825,321	725,453	725,453	725,453	725,453	650,043	650,043	650,043	650,043	648,036	648,036	658,361	658,361	658,447	638,759	638,759	638,763	560,767	560,819	485,790	485,790	485,790	485,843	443,705	443,705	412,969	423,213	433,459	443,705	443,634	443,633	268,826	274,961	275,092	269,471	100	7	-	6
Common Stock Shares Outstanding	72,429	71,881	71,932	72,178	72,203	71,910	70,227	69,375	65,008	65,008	64,900	64,900	64,900	64,900	62,844	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	59,900	55,457	54,300	54,300	54,300	54,300	54,300	54,300	54,300	54,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	48,300	47,376	46,725	46,725	46,725	41,875	40,998	36,625	36,625	36,625	32,758	31,525	31,525	30,929	31,525	31,525	31,525	31,107	26,837	20,450	20,450	20,120	19,500	19,500	0	20,000	0
Common Stock Total Equity	0	0	1,206,953	1,206,996	1,207,044	1,207,082	1,185,348	1,143,354	1,123,193	1,027,086	1,008,564	1,008,564	1,008,564	1,008,564	1,008,588	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	924,680	825,321	825,321	823,736	825,321	825,321	825,321	825,321	825,321	725,453	725,453	725,453	725,453	650,043	650,043	650,043	650,043	0	0	658,361	0	0	638,759	0	0	560,767	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	100	0	-	0
Current Deferred Revenue	7,350	17,230	15,402	0	10,204	153,202	79,357	0	12,802	0	0	170,151	83,541	0	0	31,726	33,039	131,349	112,178	126,433	74,959	155,925	128,373	119,188	81,049	112,611	105,567	88,834	110,838	92,346	6,087	43,551	103,745	52,276	60,375	55,756	97,731	54,716	52,146	55,175	60,024	62,394	3,950	54,700	63,982	54,136	54,628	50,161	62,484	102,118	10,391	115,613	74,457	98,950	86,262	80,599	60,397	64,877	56,817	55,376	86,138	80,628	82,156	8,394	10,756	0	0	0	41,337	0	0	0	0	-	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Deferred Long Term Liab	0	6,028	6,429	0	156,642	7,635	5,814	6,202	84,344	6,977	7,365	85,256	83,541	30,854	28,342	31,726	33,039	31,275	33,813	61,023	74,959	78,207	77,263	76,538	81,049	122,033	126,538	103,232	110,838	103,898	104,433	105,608	103,745	101,067	96,820	97,642	97,731	107,051	57,658	59,192	60,024	62,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Good Will	901,428	1,041,469	1,072,951	1,066,726	1,133,404	1,194,251	788,913	791,174	815,405	912,203	786,251	786,345	766,003	508,464	506,252	438,519	438,519	438,019	471,400	611,883	471,115	736,947	645,102	728,276	531,689	539,925	630,143	489,877	491,637	485,054	488,990	413,735	398,488	376,064	350,958	351,496	359,180	324,165	258,717	259,982	246,611	257,527	257,527	257,527	257,527	257,014	259,248	292,829	245,340	325,312	319,766	319,766	325,851	320,264	328,227	328,234	288,028	288,272	288,522	288,669	339,095	314,346	311,953	354,657	267,141	265,025	225,717	218,652	159,151	189,448	167,981	0	59,295	-	59,307
Intangible Assets	923,905	1,069,995	1,096,260	1,102,360	1,127,936	1,096,020	860,261	879,345	872,677	780,340	802,198	820,658	837,165	619,925	633,331	548,730	561,946	575,354	588,618	733,347	615,592	750,072	753,210	687,622	580,517	591,878	516,512	529,579	539,211	549,014	365,169	358,373	353,404	361,660	467,626	477,217	487,220	399,959	331,121	336,334	310,359	317,557	324,849	333,099	340,666	348,218	355,787	389,655	358,104	437,015	252,487	260,099	269,672	280,219	239,619	247,096	216,365	222,987	229,155	234,684	249,489	255,684	261,874	305,331	204,298	209,017	177,343	180,311	128,890	143,678	135,692	0	66,166	-	67,424
Inventory	740,387	801,887	788,283	764,029	732,428	725,902	695,687	617,159	562,084	486,596	387,262	384,300	363,373	344,036	317,301	305,636	317,306	332,221	327,657	313,910	307,437	328,548	300,263	294,736	246,928	242,817	229,465	208,326	212,984	231,987	81,813	78,994	68,371	74,296	125,232	114,166	111,214	95,790	166,723	168,598	152,948	143,982	143,109	129,247	127,283	135,499	139,162	124,631	101,021	108,970	88,235	77,831	77,412	86,599	79,260	59,457	51,727	53,583	55,396	47,639	50,909	50,418	55,581	51,406	38,339	33,238	10,910	9,216	4,756	22,162	11,667	0	0	-	0
Liabilities And Stockholders Equity	3,816,981	3,810,812	3,795,693	3,757,925	3,849,631	3,841,297	3,203,333	3,137,529	3,144,261	2,840,293	2,661,147	3,291,164	2,598,518	2,191,984	2,141,524	2,045,497	1,891,892	2,134,220	2,385,991	2,369,626	2,372,335	2,437,765	2,271,296	2,257,746	1,820,303	1,820,806	1,802,945	1,686,507	1,777,155	1,845,754	1,449,731	1,392,239	1,425,645	1,476,136	1,530,696	1,508,855	1,547,430	1,344,862	1,129,440	1,096,182	1,044,913	1,107,681	980,292	965,498	955,201	989,811	1,004,224	1,073,192	1,029,906	1,252,112	976,368	971,053	984,041	1,027,749	949,782	924,050	831,012	850,676	852,381	806,088	984,336	984,520	1,012,245	1,019,219	828,002	708,217	652,722	574,337	525,597	510,972	458,427	6,354	0	-	0
Long Term Debt	1,661,879	1,775,776	1,757,673	1,675,571	1,824,468	1,784,365	1,285,747	1,285,304	1,284,826	1,122,721	988,349	986,059	899,460	592,107	591,787	594,664	394,445	680,513	869,918	955,395	1,098,871	1,104,348	963,851	932,299	584,347	569,755	548,546	545,536	551,652	714,954	385,776	308,208	313,242	313,888	503,532	504,177	485,547	404,467	359,986	319,471	280,389	297,307	290,225	269,731	267,008	262,285	263,062	293,813	214,000	290,500	86,000	78,500	94,000	173,800	73,000	73,500	74,000	74,500	75,000	75,500	151,000	151,500	152,000	152,500	148,000	0	0	0	0	60,000	50,000	0	31,154	-	43,893
Long Term Debt Total	0	0	0	0	1,824,468	0	0	0	1,284,826	0	988,349	986,059	899,460	592,107	591,787	594,664	394,445	680,513	869,918	955,395	1,098,871	1,104,348	963,851	932,299	584,347	569,755	548,546	545,536	551,652	714,954	385,776	308,208	313,242	313,888	503,532	504,177	485,547	404,467	359,986	319,471	280,389	297,307	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Long Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	539	0	0	0	0	0	0	141,767	197,742	210,328	191,439	249,747	254,733	242,948	231,767	245,214	234,185	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Debt	1,221,402	1,721,039	1,700,319	1,631,915	1,773,197	1,733,113	1,183,038	1,187,959	1,127,701	1,052,482	878,183	1,522,866	828,716	415,288	386,559	303,651	294,131	399,675	389,054	1,030,833	1,055,100	1,073,192	931,395	891,659	550,147	533,953	514,944	435,940	517,565	694,250	367,866	238,891	230,623	228,413	481,403	486,977	465,094	384,448	250,387	238,199	170,010	148,994	275,227	255,781	251,317	244,846	249,595	273,700	83,880	300,711	97,125	81,323	100,634	172,176	92,915	143,250	67,131	66,211	48,015	72,466	55,527	63,824	53,779	183,121	33,456	20,467	-70,573	89,659	80,598	46,951	33,887	-100	0	-	0
Net Invested Capital	2,694,711	2,925,354	2,944,463	2,900,512	2,667,470	2,662,012	2,159,338	2,114,528	2,092,724	1,858,703	1,726,292	2,367,018	1,695,566	1,408,088	1,416,935	1,372,021	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Receivables	318,241	349,839	296,291	326,744	341,440	326,266	268,530	265,287	268,262	258,941	231,369	242,471	232,507	242,947	192,177	184,103	191,405	221,423	187,321	263,494	205,545	308,627	272,707	256,807	215,108	198,111	194,823	172,885	181,191	173,921	125,314	127,432	114,320	124,240	161,015	153,511	157,535	128,658	137,215	129,563	111,736	129,011	127,279	119,354	100,647	119,532	118,449	120,338	99,389	253,541	208,151	204,237	208,487	233,010	196,745	173,465	165,550	159,539	140,020	119,917	164,035	192,907	184,841	199,653	125,043	126,398	104,230	98,484	74,899	91,142	84,062	0	0	-	0
Net Tangible Assets	0	-1,275,802	872,872	911,023	-1,428,338	867,647	873,221	827,775	-882,798	-956,561	-546,588	-826,044	-807,062	-312,408	-314,435	-209,892	-189,056	19,437	70,786	-396,636	-785,873	-880,126	-771,445	-665,407	-335,415	-376,604	-380,964	-205,133	-174,443	-236,270	-76,957	21,517	74,192	130,687	-89,992	-105,882	-78,969	-44,144	-140,397	-135,512	-83,585	-62,537	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Net Working Capital	1,291,462	961,116	916,299	863,747	850,354	817,660	864,348	794,928	761,941	520,533	459,453	476,579	413,652	516,899	517,165	618,883	434,793	626,707	867,461	455,093	421,905	428,839	406,242	416,513	314,625	298,354	286,221	347,921	250,298	289,024	122,966	190,177	174,884	222,929	198,817	192,262	179,568	161,061	315,061	276,215	269,003	306,921	177,193	152,944	153,860	168,100	168,394	170,295	242,059	218,128	151,996	132,787	181,935	183,731	151,010	77,613	145,140	138,576	151,718	106,045	195,831	203,325	204,877	65,233	192,628	57,796	122,740	-39,520	-22,516	53,740	56,394	99	0	-	0
Non Current Assets Total	2,213,161	2,495,375	2,548,520	2,549,307	2,639,446	2,646,747	1,973,650	1,986,337	2,000,792	1,975,932	1,888,547	1,910,168	1,890,151	1,391,309	1,393,537	1,231,034	1,247,620	1,252,763	1,299,869	1,664,421	1,691,150	1,725,955	1,623,214	1,625,192	1,293,485	1,311,246	1,313,448	1,171,781	1,324,336	1,390,564	1,202,170	1,092,636	1,134,282	1,118,415	1,190,921	1,192,562	1,226,631	1,075,964	686,387	688,769	645,780	663,821	668,206	679,909	687,542	693,842	702,698	779,414	669,685	846,573	641,901	642,522	650,702	654,291	621,922	629,681	555,985	563,098	570,002	580,576	649,135	626,482	631,820	723,158	528,761	525,061	448,178	440,895	385,241	373,937	335,969	0	0	-	0
Non Current Liabilities Other	203,232	157,850	152,075	153,205	146,728	134,857	118,048	109,675	109,033	90,415	101,145	104,588	100,654	94,554	93,691	88,444	89,054	87,427	159,138	102,315	19,883	18,212	18,310	39,577	16,715	18,570	18,352	16,500	17,600	26,711	27,897	27,441	18,960	21,354	15,775	18,636	14,587	7,350	23,483	23,831	5,435	5,740	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Non Current Liabilities Total	1,985,242	2,066,744	2,047,214	1,968,421	2,127,838	2,072,424	1,483,152	1,477,837	1,478,203	1,297,749	1,175,003	1,175,903	1,083,655	717,515	713,820	714,834	516,538	799,215	990,549	1,118,733	1,193,713	1,200,767	1,059,424	1,048,414	682,111	710,358	693,436	665,268	680,090	845,563	518,106	441,257	435,947	436,309	616,127	620,455	597,865	518,868	441,127	402,494	345,848	365,247	419,598	392,910	385,190	370,549	368,441	413,768	315,266	453,917	246,451	237,068	256,727	320,076	219,842	215,551	193,059	182,203	190,660	192,467	301,088	272,691	272,084	285,365	260,813	106,000	91,469	90,018	79,883	128,402	108,369	0	0	-	0
Non Currrent Assets Other	195,266	180,399	174,505	37,847	172,632	9,525	62,130	136,641	134,317	113,882	123,870	125,858	114,314	107,319	103,725	99,986	100,727	97,099	96,538	12,200	457,842	12,666	12,292	9,064	8,198	8,616	9,205	9,153	9,351	-90,591	-91,224	-94,604	14,593	-84,749	-78,952	-79,173	7,949	-82,415	12,852	13,058	20,751	13,580	12,682	14,035	20,861	16,129	13,810	30,563	21,006	31,052	26,603	23,861	21,695	17,337	17,439	16,277	26,090	19,712	18,286	21,254	29,788	26,648	27,400	23,589	28,579	24,002	23,280	22,222	86,342	18,701	12,845	0	0	-	0
Noncontrolling Interest In Consolidated Entity	0	0	240,815	229,692	225,042	220,418	177,707	171,735	175,328	158,816	131,136	125,967	120,124	70,794	67,816	53,808	50,548	47,445	45,977	52,187	59,970	57,709	53,740	49,670	52,791	47,626	43,965	40,111	38,139	36,227	29,828	47,931	47,135	36,624	45,019	41,538	40,903	38,177	110,880	101,686	95,550	92,948	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Other Assets	0	17,960	17,587	0	18,943	162,727	141,487	17,259	134,317	113,882	123,870	125,858	114,314	12,855	8,960	8,156	8,372	7,940	8,217	12,200	457,842	12,127	12,292	9,064	1,120,404	1,140,419	1,155,860	1,028,609	1,181,966	1,245,117	1,077,696	974,551	1,016,232	1,008,775	1,079,400	1,078,949	1,110,760	982,945	615,917	617,292	577,721	597,439	603,537	612,405	619,054	630,109	638,086	713,047	624,450	796,244	602,268	607,115	617,218	622,114	589,922	596,670	530,483	536,745	542,184	551,260	618,372	596,678	601,227	683,577	500,018	498,044	426,340	421,185	374,383	351,827	316,518	6,253,590	70,047	-	70,535
Other Current Assets	94,715	98,974	95,245	64,189	75,046	81,130	162,757	171,401	56,575	48,585	43,803	43,344	41,743	36,873	33,281	33,711	35,247	41,975	85,280	87,964	29,670	38,479	37,656	34,686	24,897	27,145	25,922	18,234	18,872	22,893	19,274	20,610	22,803	24,363	28,149	28,166	28,347	21,181	23,766	22,630	21,220	19,704	23,850	20,488	21,488	20,949	27,898	26,446	27,441	32,464	28,840	29,343	33,904	29,381	36,743	39,303	26,255	27,459	28,811	25,536	22,784	25,037	39,782	30,969	16,501	17,123	16,176	17,050	46,636	542	597	6,254	4,997	-	4,746
Other Current Liab	201,596	35,797	36,951	55,109	245,413	113,177	149,585	262,910	61,815	232,789	222,772	31,941	30,679	185,584	152,308	132,511	22,573	30,648	26,650	7,764	102,152	16,181	4,749	5,873	-65,952	15,493	14,000	13,013	-66,555	13,024	10,253	9,974	-88,878	28,664	3,894	6,044	-21,849	6,269	4,760	4,050	-50,873	4,184	2,875	7,658	-4,940	7,155	1,571	777	2,802	977	869	6,989	3,580	1,983	2,556	2,843	-225	2,667	2,636	3,303	2,533	29,036	44,598	120,170	50,633	524	817	509	19,617	18,221	6,499	6,255	33,700	-	34,515
Other Liab	0	135,842	139,836	0	158,648	288,059	79,357	86,703	193,377	175,028	186,654	189,844	83,541	47,617	43,430	43,312	45,138	43,683	45,418	70,601	93,352	96,419	95,374	114,950	16,715	18,570	18,352	16,500	17,600	26,711	27,897	27,441	18,960	21,354	15,775	18,636	14,587	7,350	23,483	23,831	5,435	5,740	67,295	59,500	54,200	44,541	39,140	39,534	38,782	87,089	85,273	84,962	88,270	72,333	70,372	65,780	58,662	48,174	54,543	55,919	63,950	58,148	57,393	62,978	43,583	38,661	34,831	33,072	38,546	25,560	16,400	0	12,949	-	10,587
Other Stockholder Equity	-9,339	-7,391	-5,856	-3,954	1,414,800	1,484,431	1,177,509	-1,677	1,284,530	1,489,820	624,454	609,172	594,000	374,265	-5,528	-5,457	-3,933	186,858	188,409	189,404	-8,776	-4,354	-5,991	-3,155	-2,573	-2,184	-5,550	-8,428	-9,515	825,321	825,321	823,736	815,517	825,321	825,321	825,321	822,779	725,453	725,453	725,453	726,146	650,043	650,043	650,043	649,911	648,036	648,036	0	658,361	658,447	0	638,759	638,763	560,767	560,819	485,790	485,790	485,790	485,843	443,705	443,705	412,969	423,453	433,459	450,439	448,609	447,406	270,406	276,541	276,618	270,029	0	0	-	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Preferred Stock Total Equity	0	0	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	303,918	0	0	0	192,921	289,425	289,425	193,130	96,417	96,417	96,577	0	0	0	0	0	0	0	0	0	0	0	0	562,490	568,935	605,495	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Property Plant And Equipment Gross	429,363	438,739	204,804	202,729	431,992	193,749	182,989	179,177	0	0	176,228	177,307	172,669	155,601	150,229	143,799	146,428	142,291	143,313	306,991	226,817	226,270	212,610	200,230	173,081	170,827	157,588	143,172	142,370	145,447	124,474	118,085	118,050	109,640	111,521	113,613	115,871	93,019	70,470	71,477	68,059	66,382	64,669	67,504	68,488	63,733	64,612	66,367	45,235	50,329	39,633	35,407	33,484	32,177	32,000	33,011	25,502	26,353	27,818	29,316	30,763	29,804	30,593	39,581	28,743	27,017	21,838	19,710	10,858	22,110	19,451	0	0	-	0
Property Plant And Equipment Net	192,562	203,512	204,804	202,729	205,474	193,749	182,989	179,177	178,393	169,507	176,228	177,307	172,669	155,601	150,229	143,799	146,428	142,291	143,313	306,991	146,601	226,270	212,610	200,230	173,081	170,827	157,588	143,172	142,370	145,447	124,474	118,085	118,050	109,640	111,521	113,613	115,871	93,019	70,470	71,477	68,059	66,382	64,669	67,504	68,488	63,733	64,612	66,367	45,235	50,329	39,633	35,407	33,484	32,177	32,000	33,011	25,502	26,353	27,818	29,316	30,763	29,804	30,593	39,581	28,743	27,017	21,838	19,710	10,858	22,110	19,451	0	0	-	0
Property Plant Equipment	0	365,951	204,804	202,729	205,474	193,749	182,989	179,177	178,393	169,507	176,228	177,307	172,669	155,601	150,229	143,799	146,428	142,291	143,313	203,549	226,817	226,270	212,610	200,230	173,081	170,827	157,588	143,172	142,370	145,447	124,474	118,085	118,050	109,640	111,521	113,613	115,871	93,019	70,470	71,477	68,059	66,382	64,669	67,504	68,488	63,733	64,612	66,367	45,235	50,329	39,633	35,407	33,484	32,177	32,000	33,011	25,502	26,353	27,818	29,316	30,763	29,804	30,593	39,581	28,743	27,017	21,838	19,710	10,858	22,110	19,451	0	2,876	-	3,081
Retained Earnings	-249,243	-362,680	-328,507	-291,605	-372,906	-336,842	-311,092	-313,902	-314,267	-289,799	-270,671	-226,631	-211,002	-188,136	-177,912	-141,866	-109,338	-78,728	17,715	-165,490	-249,453	-216,929	-195,318	-171,034	-145,316	-167,297	-153,439	-101,929	-58,760	-19,706	-41,667	-25,004	10,567	50,063	-94,889	-99,798	-55,348	-45,319	-276,800	-265,333	-252,761	-137,625	-269,034	-251,077	-235,283	-211,177	-197,275	-179,963	-160,852	-199,652	-183,854	-190,232	-150,550	-135,044	-90,747	-75,050	-46,628	-32,495	-22,144	-12,053	25,984	66,211	60,953	-11,650	-10,855	2,830	7,933	17,671	-19,250	-1,773	0	-2	5,836	-	0
Retained Earnings Total Equity	0	0	-328,507	-291,605	-372,906	-336,842	-311,092	-313,902	-314,267	-289,799	-270,671	-226,631	-211,002	-188,136	-177,912	-141,866	-109,338	-78,728	17,715	-165,490	-249,453	-216,929	-195,318	-171,034	-145,316	-167,297	-153,439	-101,929	-58,760	-19,706	-41,667	-25,004	10,567	50,063	-94,889	-99,798	-55,348	-45,319	-276,800	-265,333	-252,761	-137,625	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt	10,000	10,000	10,000	10,000	10,000	10,000	0	0	0	0	0	600,000	0	0	0	0	0	5,000	5,000	5,000	5,582	5,553	5,922	7,019	8,153	8,875	564,103	5,685	9,695	5,685	3,250	0	7,164	0	0	0	5,248	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Short Long Term Debt Total	1,671,879	1,785,776	1,767,673	1,685,571	1,834,468	1,794,365	1,285,747	1,285,304	1,284,826	1,122,721	988,349	1,586,059	899,460	592,107	591,787	594,664	394,445	685,513	874,918	1,070,670	1,103,871	1,109,348	968,851	937,984	590,032	575,440	554,231	551,221	557,337	720,639	389,026	311,458	316,492	317,138	506,782	507,427	488,797	407,717	365,736	324,821	283,239	300,157	293,075	272,281	269,558	264,835	265,612	296,063	216,250	311,275	106,366	98,443	114,170	196,644	108,027	165,394	98,626	113,208	106,167	104,886	153,000	153,500	154,000	197,154	152,814	26,864	2,655	98,351	87,604	60,000	50,000	0	0	-	0
Short Term Debt	10,000	10,000	10,000	10,000	10,000	10,000	25,713	0	186,506	0	0	600,000	-73,303	0	0	0	-24,990	5,000	5,000	24,574	5,000	5,000	5,000	5,685	5,685	5,685	5,685	5,685	5,685	5,685	3,250	3,250	3,250	3,250	3,250	3,250	3,250	3,250	5,750	5,350	2,850	2,850	2,850	2,550	2,550	2,550	2,550	2,250	2,250	20,775	20,366	19,943	20,170	22,844	35,027	91,894	24,626	38,708	31,167	29,386	2,000	2,000	2,000	44,654	4,814	26,864	2,655	98,351	87,604	0	0	0	0	-	0
Short Term Investments	0	0	0	0	0	0	0	0	0	0	0	647,688	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	562,490	568,935	605,495	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Assets	3,816,981	3,810,812	3,795,693	3,757,925	3,849,631	3,841,297	3,203,333	3,137,529	3,144,261	2,840,293	2,661,147	3,291,164	2,598,518	2,191,984	2,141,524	2,045,497	1,891,892	2,134,220	2,385,991	2,369,626	2,372,335	2,437,765	2,271,296	2,257,746	1,820,303	1,820,806	1,802,945	1,686,507	1,777,155	1,845,754	1,449,731	1,392,239	1,425,645	1,476,136	1,530,696	1,508,855	1,547,430	1,344,862	1,129,440	1,096,182	1,044,913	1,107,681	980,292	965,498	955,201	989,811	1,004,224	1,073,192	1,029,906	1,252,112	976,368	971,053	984,041	1,027,749	949,782	924,050	831,012	850,676	852,381	806,088	984,336	984,520	1,012,245	1,019,219	828,002	708,217	652,722	574,337	525,597	510,972	458,427	6,354	141,752	-	139,987
Total Current Assets	1,603,820	1,315,437	1,247,173	1,208,618	1,210,185	1,194,550	1,229,683	1,151,192	1,143,469	864,361	772,600	1,380,996	708,367	800,675	747,987	814,463	644,272	881,457	1,086,122	705,205	681,185	711,810	648,082	632,554	526,818	509,560	489,497	514,726	452,819	455,190	247,561	299,603	291,363	357,721	339,775	316,293	320,799	268,898	443,053	407,413	399,133	443,860	312,086	285,589	267,659	295,969	301,526	293,778	360,221	405,539	334,467	328,531	333,339	373,458	327,860	294,369	275,027	287,578	282,379	225,512	335,201	358,038	380,425	296,061	299,241	183,156	204,544	133,442	140,356	137,035	122,458	6,354	0	-	0
Total Current Liabilities	312,358	354,321	330,874	344,871	359,831	376,890	365,335	356,264	381,528	343,828	313,147	904,417	294,715	283,776	230,822	195,580	209,479	254,750	218,661	250,112	259,280	282,971	241,840	216,041	212,193	211,206	203,276	166,805	202,521	166,166	124,595	109,426	116,479	134,792	140,958	124,031	141,231	107,837	127,992	131,198	130,130	136,939	134,893	132,645	113,799	127,869	133,132	123,483	118,162	187,411	182,471	195,744	151,404	189,727	176,850	216,756	129,887	149,002	130,661	119,467	139,370	154,713	175,548	230,828	106,613	125,360	81,804	172,962	162,872	83,295	66,064	6,255	44,514	-	41,499
Total Liab	2,297,600	2,421,065	2,378,088	2,313,292	2,487,669	2,449,314	1,848,487	1,834,101	1,859,731	1,641,577	1,488,150	2,080,320	1,378,370	1,001,291	944,642	910,414	726,017	1,053,965	1,209,210	1,368,845	1,452,993	1,483,738	1,301,264	1,264,455	894,304	921,564	896,712	832,073	882,611	1,011,729	642,701	550,683	552,426	571,101	757,085	744,486	739,096	626,705	569,119	533,692	475,978	502,186	554,491	525,555	498,989	498,418	501,573	537,251	433,428	641,328	428,922	432,812	408,131	509,803	396,692	432,307	322,946	331,205	321,321	311,934	440,458	427,404	447,632	516,193	367,426	231,360	173,273	262,980	242,755	211,697	174,433	6,255	88,617	-	96,076
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	954,027	970,032	993,291	925,999	899,242	906,233	854,434	894,544	834,025	807,030	0	0	0	0	0	0	0	0	562,490	568,935	605,495	425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Total Stockholder Equity	1,326,750	1,139,578	1,176,790	1,214,941	1,136,920	1,171,565	1,177,509	1,133,142	1,111,816	1,039,900	1,041,861	1,084,877	1,100,024	1,119,899	1,129,066	1,081,275	1,115,327	1,032,810	1,130,804	948,594	859,372	896,318	916,292	943,621	873,208	851,616	862,268	814,323	856,405	797,798	777,202	793,625	826,084	868,411	728,592	722,831	767,431	679,980	449,441	460,804	473,385	512,547	380,452	398,116	414,628	436,496	449,974	478,428	497,509	458,795	454,905	448,527	488,070	425,049	468,968	409,058	437,161	450,946	461,369	429,056	464,447	479,606	485,406	419,382	432,850	446,464	451,566	286,497	255,711	273,319	269,471	99	53,135	-	43,911
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-562,490	-568,935	-605,495	-425,801	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Begin Period Cash Flow	61,271	160,733	70,744	100,314	53,326	39,885	39,772	85,869	23,703	113,229	18,241	132,370	13,536	31,495	97,473	119,358	7,006	100	0	0
Capital Expenditures	55,776	64,274	39,880	30,764	34,898	40,998	44,767	23,969	16,588	15,262	20,410	18,546	21,868	8,668	3,585	11,576	8,698	5,822	1,019	884
Cash And Cash Equivalents Changes	0	-98,131	89,761	-30,484	48,166	13,441	113	-46,097	62,166	-89,526	94,988	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	30,703	17,380	24,767	-47,783	-11,396	29,960	58,599	720	-6,205	-22,379	0	0	0	0	0	0	0	0	0
Change In Cash	389,206	-99,462	89,989	-29,570	46,988	13,441	113	-46,097	62,166	-89,526	94,988	-114,129	118,834	-17,959	-65,978	-21,885	112,352	9,610	100	0
Change In Working Capital	-153,310	-252,377	-80,990	3,349	-15,176	-7,718	-40,394	18,484	-8,313	-9,715	-18,609	-26,970	25,001	-26,581	-13,735	-6,093	-7,304	-5,308	1	0
Change Receivables	0	-55,445	-30,542	-28,803	10,805	-875	-17,581	-15,596	11,814	-20,853	-10,988	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-21,849	-55,445	-30,542	-28,803	10,805	4,479	-17,581	-15,596	11,814	-20,853	-10,988	-2,137	-7,517	-22,500	143	29,970	-13,233	-7,867	0	0
Change To Inventory	-58,269	-170,589	-106,396	-28,023	-10,446	-18,421	-28,247	2,893	-3,303	19,588	-24,454	-13,703	5,056	-13,030	-557	102	-5,772	-6,314	0	0
Change To Liabilities	0	-15,001	63,427	62,505	-8,525	23,921	8,746	25,148	-6,433	-2,245	17,246	4,336	26,490	12,761	0	0	16,736	8,555	0	0
Change To Netincome	0	32,998	66,881	13,195	49,430	-1,308	-26,165	-48,842	23,340	-269,566	14,172	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-11,342	-7,479	-2,330	-7,010	-3,599	-2,940	3,891	805	190	0	0	0	0	0	0	0	0	0	0
Depreciation	142,367	138,809	117,643	102,752	87,308	90,701	110,051	87,405	63,072	55,696	46,227	49,450	49,109	42,120	32,996	36,990	25,331	10,290	0	0
Dividends Paid	-96,148	95,026	209,185	113,534	101,381	98,435	88,713	78,192	78,192	69,552	69,552	69,552	66,916	55,165	46,342	41,455	45,960	7,955	0	0
End Period Cash Flow	450,477	61,271	160,733	70,744	100,314	53,326	39,885	39,772	85,869	23,703	113,229	18,241	132,370	13,536	31,495	97,473	119,358	9,710	100	0
Exchange Rate Changes	0	0	0	0	0	2,958	-1,792	-3,174	-1,905	-955	450	0	0	0	0	0	0	0	0	0
Free Cash Flow	22,304	-92,565	94,171	117,861	49,664	73,454	37,004	87,403	67,960	55,433	51,964	34,020	69,506	36,173	16,628	28,973	33,074	14,741	13,636	5,697
Investments	76,517	-626,725	-317,496	-700,834	-5,617	-1,783	-3,964	-4,303	-2,007	-2,008	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	74,259	83,851	114,629	83,884	110,997	96,504	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	544,724	343,604	505,786	108,000	106,141	29,016	242,072	-173,415	243,355	8,528	0	0	0	0	0	0	0	0	0
Net Income	-38,736	42,045	24,859	27,097	-40,773	-18,877	33,272	56,530	165,770	291,155	78,816	4,340	72,812	-44,770	-39,645	78,294	40,368	-19,249	-1	7,413
Other Cashflows From Financing Activities	296,065	686,060	2,450	42,375	154,109	1,784,768	-42,207	-60,499	193,810	-15,554	131,705	-15,653	538,430	2,543	-452	1,643	62,098	74,059	0	0
Other Cashflows From Investing Activities	0	-562,451	-277,616	-670,070	783,641	-551,982	-28,547	-334,749	252,475	-407,483	86,696	60,532	217,260	8	38	156,580	119,652	0	0	0
Other Non Cash Items	138,801	33,747	71,264	7,213	47,695	45,889	31,243	-45,760	-136,023	-262,584	-33,486	22,051	18,296	32,957	2,430	-59,731	-15,328	2,760	0	0
Sale Purchase Of Stock	-9,339	73,871	1,857,000	767,000	110,997	96,908	220,770	671,298	-2,782	677,000	17,041	-48,022	-4,032	202,300	3,000	0	0	0	0	0
Stock Based Compensation	10,665	13,951	10,941	8,995	6,054	6,711	7,028	4,382	3,173	4,744	4,683	5,755	-55,986	48,261	63,131	0	0	34,351	0	0
Total Cash From Financing Activities	-260,163	556,885	273,206	521,725	-779,522	500,111	-2,588	208,726	-254,357	265,487	-44,122	-82,232	114,080	119,592	-81,209	-39,812	184,882	351,073	100	23,970
Total Cash From Operating Activities	78,080	-28,291	134,051	148,625	84,562	114,452	81,771	111,372	84,548	70,695	72,374	52,566	91,374	44,841	20,213	40,549	41,772	20,563	14,655	6,581
Total Cashflows From Investing Activities	0	-626,725	-317,496	-700,834	743,126	-604,080	-77,278	-363,021	233,880	-424,753	66,286	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2004-12-31
Begin Period Cash Flow	64,737	67,354	53,656	61,271	61,252	105,623	104,201	160,733	70,239	110,166	63,193	70,744	176,819	205,228	291,013	100,314	285,838	485,864	39,837	53,326	36,156	37,456	46,325	39,885	41,487	39,287	115,281	39,772	26,389	21,160	72,567	85,869	88,725	25,379	20,450	23,703	23,269	115,349	86,622	113,229	151,163	17,848	16,500	18,241	19,989	16,017	22,363	132,370	10,564	9,241	17,120	13,536	24,468	15,112	22,144	31,495	46,997	58,152	32,420	97,473	89,676	100,221	14,033	119,358	6,397	73,228	8,692	7,006	13,049	16,113	100	100	0	0
Capital Expenditures	12,128	12,108	15,460	16,080	24,591	15,248	14,044	10,391	11,879	10,154	10,142	7,705	10,699	7,897	5,565	6,603	12,934	7,604	6,832	7,528	9,157	12,380	16,564	12,214	13,812	11,394	10,868	8,693	8,441	4,739	6,383	4,406	4,509	3,040	4,249	4,790	5,075	2,586	3,970	3,631	5,737	5,665	5,680	3,328	8,828	2,774	3,539	3,405	6,769	3,732	6,802	4,565	3,965	2,485	1,254	964	1,220	578	673	1,114	2,989	1,439	2,384	4,764	3,729	1,134	3,012	823	1,791	1,918	2,113	0	1,019	884
Cash And Cash Equivalents Changes	0	0	13,626	-8,177	-1,385	-42,768	2,295	-56,273	90,170	-39,823	46,783	-7,369	-107,249	-29,170	-85,790	191,725	-196,586	-187,786	218,281	-64,962	17,170	-1,300	-8,869	6,440	-1,602	2,200	-75,994	75,509	13,383	5,229	-51,407	-13,302	0	0	0	-3,253	434	-92,080	28,727	-26,607	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	7,982	14,252	-10,239	11,526	15,837	13,579	3,846	18,239	-767	-3,938	6,806	18,456	-4,376	3,881	9,359	-34,136	-9,356	-13,650	-5,475	4,595	-4,056	-6,460	50,737	7,189	-5,524	-22,442	4,937	49,699	19,600	-610	0	0	0	115	-197	-2,619	-115	-3,274	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	385,740	-2,617	13,698	-7,615	19	-44,371	1,422	-56,532	90,494	-39,927	46,973	-7,551	-106,075	-28,409	-85,785	190,699	-185,524	-200,026	446,027	-13,489	17,170	-1,300	-8,869	6,440	-1,602	2,200	-75,994	75,509	13,383	5,229	-51,407	-13,302	-2,856	63,346	4,929	-3,253	434	-92,080	28,727	-26,607	-37,934	133,315	1,348	-1,741	-1,748	3,972	-6,346	-110,007	121,806	1,323	-7,879	3,584	-10,932	9,356	-7,032	-9,351	-15,502	-11,155	25,732	-65,053	7,797	-10,545	86,188	-105,325	112,961	-66,831	64,536	1,686	-3,339	-3,064	16,013	0	0	0
Change In Working Capital	-39,428	-48,685	-33,652	-34,277	-29,213	-63,969	-63,478	-95,717	-66,270	-9,011	16,445	-22,154	-7,058	-29,458	32,821	7,044	13,422	-11,060	11,832	-29,370	26,700	-12,804	-8,634	-11,512	-16,045	-8,297	8,190	-24,242	22,275	-10,435	19,242	-13,787	20,081	-490	-1,128	-15,987	5,617	20,289	-9,610	-26,011	979	6,682	-23,930	-2,340	13,179	2,441	-22,697	-19,893	27,623	-15,635	-11,460	24,473	-7,138	-2,266	-23,955	6,778	-20,481	-5,955	-15,133	27,834	4,112	-13,488	-16,888	20,171	1,055	2,837	-3,420	-7,776	-385	-7,230	2,307	1	0	0
Change Receivables	0	0	29,055	4,927	-10,245	-42,921	-4,109	1,830	-9,987	-23,698	11,382	-8,239	13,360	-50,943	2,085	6,695	29,992	-35,679	15,534	958	36,228	-24,842	-7,806	-4,455	-16,566	-3,216	-3,509	5,710	-6,799	-19,547	4,443	6,307	0	0	0	5,370	-7,168	10,420	-8,453	-15,652	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-1,820	-54,011	29,055	4,927	-10,245	-42,921	-4,109	1,830	-9,987	-23,698	11,382	-8,239	13,360	-50,943	2,085	6,695	29,992	-35,679	15,534	958	36,228	-24,842	-7,806	-4,455	-16,566	-3,216	-3,509	5,710	-6,799	-19,547	4,443	6,307	12,090	1,683	-7,329	5,370	-7,168	10,420	-8,453	-15,652	17,256	-2,096	-8,018	-18,130	20,761	-1,338	-19,686	-1,874	15,712	-24,856	-3,414	5,041	22,192	-26,508	-18,494	310	-5,911	-19,464	-20,133	45,651	29,970	0	7,722	19,623	-13,233	0	0	3,829	-7,867	0	0	0	0	0
Change To Inventory	15,133	-15,015	-22,477	-35,910	-9,872	-24,219	-80,345	-56,153	-57,864	-24,450	-4,005	-20,077	-12,274	-26,985	-537	11,773	14,417	-5,085	-13,154	-6,624	10,294	-17,421	-6,657	-7,164	-4,025	-12,150	-3,996	-8,076	2,453	945	665	-1,170	7,469	3,249	-11,069	-2,952	2,536	22,108	2,007	-7,063	-7,734	-877	-13,833	-2,010	8,860	3,860	-21,316	-5,107	5,202	11,136	-10,628	-654	5,953	324	-19,258	-49	1,856	1,796	-7,501	3,292	9	5,163	-5,882	812	-4,985	19	-1,215	409	2,009	-7,538	0	0	0	0
Change To Liabilities	0	20,952	-36,039	-3,294	-14,344	6,441	29,498	-36,596	2,103	41,389	-10,100	10,100	-6,170	50,817	28,283	-10,425	-35,803	35,258	12,989	-20,969	-20,908	30,630	9,253	4,946	3,357	7,819	18,479	-20,909	23,852	6,084	13,526	-18,314	-8,108	0	991	-18,520	10,446	-9,620	-3,049	-22	17,246	26,044	24,991	17,987	4,336	20,661	22,509	1,392	26,490	28,451	25,973	23,388	12,761	48,025	24,126	7,241	0	5,862	0	0	0	13,631	17,886	18,032	16,736	12,386	0	0	8,555	10,319	6,633	0	0	0
Change To Netincome	0	38,200	2,707	-4,752	14,703	5,023	3,620	9,652	12,986	7,701	35,350	7,842	4,281	7,228	1,955	-269	2,076	39,786	4,891	2,677	1,764	-1,328	2,766	-4,510	-33,646	-3,612	-616	11,709	-8,300	-45,261	-14,474	19,193	-137,378	0	0	27,313	-10,540	-260,042	1,267	-251	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	-611	-611	-611	5,248	-3,270	-8,522	-4,798	-522	-522	-1,771	-3,938	-1,974	-2,347	2,990	-999	4,816	-5,554	-3,537	-2,735	1,187	-1,171	-1,171	-4,839	-3,312	-750	-2,784	-967	4,850	1,974	297	0	805	0	0	0	190	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	25,395	1,005	1,024	38,183	39,029	37,473	31,275	31,032	32,245	28,519	28,775	28,104	29,174	25,392	26,380	21,806	22,048	21,923	15,716	27,621	32,697	30,747	34,198	22,933	21,392	26,077	31,187	31,395	33,433	22,252	15,012	14,908	13,329	9,953	15,710	16,535	19,812	11,350	12,549	11,985	11,557	11,546	11,513	11,611	11,577	11,430	13,353	13,090	15,756	12,553	10,486	10,314	14,136	10,254	9,725	8,423	8,007	8,230	8,359	8,400	8,965	8,825	9,524	9,676	6,486	6,756	7,089	5,000	4,129	4,134	159	0	0	0
Dividends Paid	-24,000	-24,019	24,033	24,096	24,096	23,976	23,557	23,397	46,556	103,810	29,410	29,409	29,409	29,410	27,609	27,106	25,345	25,345	25,346	25,345	25,345	26,337	23,376	23,377	24,021	21,564	21,564	21,564	19,548	19,548	19,548	19,548	19,548	19,548	19,548	19,548	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,388	17,387	16,821	16,821	15,887	14,237	14,238	14,238	12,452	12,453	12,452	10,718	10,719	10,719	10,244	10,246	10,246	24,232	9,458	6,135	6,135	5,368	2,587	0	0	0	0
End Period Cash Flow	450,477	64,737	67,354	53,656	61,271	61,252	105,623	104,201	160,733	70,239	110,166	63,193	70,744	176,819	205,228	291,013	100,314	285,838	485,864	39,837	53,326	36,156	37,456	46,325	39,885	41,487	39,287	115,281	39,772	26,389	21,160	72,567	85,869	88,725	25,379	20,450	23,703	23,269	115,349	86,622	113,229	151,163	17,848	16,500	18,241	19,989	16,017	22,363	132,370	10,564	9,241	17,120	13,536	24,468	15,112	22,144	31,495	46,997	58,152	32,420	97,473	89,676	100,221	14,033	119,358	6,397	73,228	8,692	9,710	13,049	16,113	100	100	0
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-317	-1,049	2,042	-700	-391	2,007	635	-1,928	-303	-196	23	626	-790	-3,033	0	0	0	-67	-403	-703	140	11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	9,000	7,605	-9,311	-535	-12,959	-19,834	-15,852	-43,920	-24,976	27,560	62,901	28,686	25,054	16,645	48,779	27,383	40,044	15,326	10,758	-16,464	46,523	11,080	12,105	-5,571	8,723	11,974	26,414	-10,107	42,337	10,321	33,126	1,619	33,568	11,164	24,731	-1,503	19,460	32,254	13,390	-9,671	12,598	25,975	-3,407	16,798	22,358	23,577	-3,704	-8,211	26,808	5,581	1,924	35,193	12,049	18,773	-10,064	15,415	-2,441	4,084	-9,725	24,710	11,704	-637	-7,492	25,398	16,474	14,734	4,172	-2,306	8,475	-230	8,609	0	13,636	5,697
Investments	466,212	-13,538	-191,619	154,724	-27,774	-576,713	-13,946	-8,292	-115,067	-149,733	-10,429	-42,267	-464,332	-23,512	-206,344	-6,646	-4,942	-372	-209	-94	-339	-358	-380	-706	-137,061	-935	-1,026	135,058	-110,398	61,680	-1,294	45,709	182,470	0	0	-495	-506	-506	-501	-495	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	38	21,734	41,994	20,161	96,107	18,522	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	17,500	81,500	-149,500	39,500	505,259	-35	510,500	161,681	134,000	-50,312	33,154	307,000	-34	-1,180	200,000	533,500	-195,000	-86,250	-144,250	-406,249	139,723	25,726	346,941	13,613	20,429	2,209	-7,235	-164,014	329,711	77,188	-813	-172,975	0	0	18,462	82,538	87,187	32,621	41,009	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	-59,596	-5,034	12,891	109,601	-14,344	11,480	26,532	18,377	4,368	9,746	-11,251	21,996	8,780	20,803	-7,366	4,880	4,543	-28,582	-5,819	-10,915	-6,561	5,766	-632	-1,621	49,131	8,356	-2,740	-21,475	1,802	47,616	19,358	-15,027	-259	-707	26,575	-25,287	8,933	262,530	12,319	7,373	-5,062	78,296	1,956	3,626	-5,206	6,445	2,212	889	58,643	12,470	6,378	-6,974	677	-29,417	-743	-15,287	-50	2,788	-15,065	-27,318	1,228	5,258	72,603	-795	-3,440	4,355	2,532	36,921	-17,217	-4,029	1,998	-1	8,988	7,413
Other Cashflows From Financing Activities	-36,172	-220	-26,695	75,152	98,391	575,273	23,612	-11,216	2,783	23,484	34,579	1,120,604	43,739	399,234	293,819	191,491	101,691	-44,023	50,294	46,147	54,917	161,517	1,013,118	555,216	-1,508	43,465	190,764	35,989	-7,471	437,680	144,870	-1,780	-8,547	131,571	35,513	35,273	-1,862	78,301	323,068	60,939	-16,027	82,734	53,110	11,888	-13,432	22,242	61,153	3,884	222,336	1,948	42,430	-284	-6,898	7,375	92,760	-50	39	-2,509	48,445	-2,289	-2,672	1,003	-40,602	43,914	121,255	24,756	74,296	10,463	8,036	16,529	320,176	0	0	0
Other Cashflows From Investing Activities	0	-948	-21,435	170,804	-3,183	-561,465	98	2,099	-103,188	-139,579	-52,391	-34,562	-453,633	-15,615	-200,779	-43	280,073	50,124	328,379	125,065	121	-127,252	-22,143	-402,708	136,551	-6,241	-152,507	-6,350	173,102	-374,636	-97,759	-35,456	380,760	357,489	0	125	-181,273	-183,225	-695	-42,290	83,705	86,789	4,644	93	60,532	57,364	72,269	5,313	217,260	140	150	62	8	7	37	14	38	185	188	72	156,580	153,111	152,767	0	119,652	112,002	119,856	119,856	0	0	0	0	0	0
Other Non Cash Items	102,900	73,521	23,836	-94,107	23,733	-5,023	5,631	9,406	26,368	4,710	36,073	4,113	-593	3,053	3,860	893	9,514	41,885	-6,942	3,238	4,413	602	54	-1,397	7,473	1,527	3,153	19,090	-2,714	-46,848	-8,757	18,528	3,084	9,231	-12,585	27,808	-4,322	-260,943	2,839	-158	9,314	-64,885	10,861	8,471	5,626	4,908	5,706	426	8,955	3,144	8,392	-2,195	14,082	2,044	2,615	14,216	11,202	-134	-418	-8,220	2,289	1,456	-66,068	366	15,024	4,934	451	-568	-6,328	7,968	4,146	0	0	0
Sale Purchase Of Stock	-1,823	-1,569	-1,945	-4,002	192	22,376	309	9,259	492,000	186,000	-1,057	70	564,976	-200,000	83,828	-10	111,734	-667	-31	-39	102,885	401	14	-6,392	-90,147	504	694	40	-45,611	5,718	-33,418	-1,498	0	0	0	0	235,340	-9,595	594	1,156	0	0	0	0	48,022	0	0	-48,022	-4,032	272,000	0	0	15,000	98,100	0	69,500	947	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	1,780	3,174	3,666	2,045	5,100	3,490	2,680	2,681	2,445	2,878	2,847	2,771	2,879	2,171	1,890	2,055	1,789	936	1,213	2,116	1,281	2,529	2,614	2,551	2,076	1,702	1,798	1,452	1,371	963	859	1,189	1,110	180	859	1,024	1,152	623	1,604	1,365	4,683	549	2,589	-385	5,755	2,953	1,701	731	-65,229	542	-4,137	15,133	-3,712	43,696	3,489	4,370	-3,042	1,351	14,914	49,908	0	0	37	2,189	0	-1,797	1,152	-34,524	31,724	1,497	0	0	0	0
Total Cash From Financing Activities	-102,236	-8,308	207,273	-178,446	14,757	538,531	18,049	-14,452	218,334	72,196	-15,831	-1,493	321,330	-30,200	66,210	164,385	-222,404	-264,368	-120,302	-172,448	-31,177	115,930	1,940	413,418	-10,450	-670	51,428	-42,896	-91,681	307,238	15,310	-22,141	-28,907	-203,790	-20,347	-1,313	163,156	60,100	16,393	25,838	-50,628	24,634	9	-18,137	-26,458	-18,284	-55,402	17,912	-98,669	254,311	-9,891	-31,671	-22,939	80,581	3,022	58,928	-12,914	-15,514	35,727	-88,508	-13,391	-9,241	-50,848	33,668	97,094	15,299	68,161	4,328	2,675	28,222	320,176	0	0	23,970
Total Cash From Operating Activities	21,128	19,713	6,149	15,545	11,632	-4,586	-1,808	-33,529	-13,097	37,714	73,043	36,391	35,753	24,542	54,344	33,986	52,978	22,930	17,590	-8,936	55,680	23,460	28,669	6,643	22,535	23,368	37,282	-1,414	50,778	15,060	39,509	6,025	38,077	14,204	28,980	3,287	24,535	34,840	17,360	-6,040	18,335	31,640	2,273	20,126	31,186	26,351	-165	-4,806	33,577	9,313	8,726	39,758	16,014	21,258	-8,810	16,379	-1,221	4,662	-9,052	25,824	14,693	802	-5,108	30,162	20,203	15,868	7,184	-1,483	10,266	1,688	8,609	0	14,655	6,581
Total Cashflows From Investing Activities	0	-13,538	-36,895	154,724	-27,774	-576,713	-13,946	-8,292	-115,067	-149,733	-10,429	-42,267	-464,332	-23,512	-206,344	-6,646	-17,022	42,148	321,338	117,443	-9,375	-139,990	-39,087	-415,628	-14,322	-18,570	-164,401	120,015	54,263	-317,695	-105,436	5,847	233,880	246,594	-9,249	-5,160	-186,854	-186,317	-5,166	-46,416	66,286	72,116	-4,364	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31
Cost Of Revenue	1,165,553	1,356,300	1,115,711	997,976	930,810	887,478	822,020	651,739	551,511	688,631	679,708	605,867	523,967	1,302,202	976,991	1,196,206	673,710	311,641	440,259	253,644
Depreciation And Amortization	142,367	110,481	113,409	56,861	54,155	90,701	52,003	87,405	63,072	55,696	46,227	49,450	49,109	42,120	32,996	36,990	25,331	10,290	0	0
Discontinued Operations	0	9,393	29,180	100	16,901	18,392	22,126	473	15,650	20,419	0	0	0	0	0	0	0	0	0	0
Ebit	178,871	175,568	139,503	94,833	87,578	52,347	43,161	113,073	50,385	64,305	87,668	67,872	28,042	17,815	16,320	26,975	33,015	477	-1	0
Ebitda	321,238	286,049	252,912	151,694	141,733	143,048	95,164	200,478	113,457	120,001	133,895	117,322	77,151	59,935	49,316	63,965	58,346	10,767	-1	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	348,180	18,392	37,626	2,897	157,980	0	0	0	97,075	0	0	77,970	35,834	8,387	0	0
Gross Profit	893,323	907,744	725,957	562,781	519,443	469,842	447,709	326,570	253,873	293,669	305,831	278,854	253,571	355,407	271,749	342,267	244,193	99,232	102,753	61,614
Income Before Tax	-17,405	87,074	43,196	43,991	-26,031	-8,411	-7,407	63,218	15,296	299,419	99,545	26,822	-16,851	-33,635	-60,926	10,343	27,165	-21,093	14,138	7,498
Income Tax Expense	21,331	45,029	18,337	16,894	14,742	10,466	-40,679	9,469	14,974	8,264	20,729	21,069	9,123	11,135	-21,281	6,526	10,691	5,298	1	85
Interest Expense	105,132	83,506	57,337	45,768	58,216	55,245	27,623	24,651	25,924	27,068	19,415	25,055	12,643	11,544	11,736	17,828	7,072	6,130	0	0
Interest Income	1,951	49	96	476	71,677	64,505	33,415	45,690	26,164	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-14,239	15,051	7,740	4,417	5,542	3,912	5,621	-1,961	-3,303	-12,320	10,752	8,508	6,142	3,987	0	3,493	11,940	1,245	0	0
Net Income	246,286	36,387	24,859	22,780	-40,773	-5,702	27,991	54,685	161,838	278,835	68,064	-3,942	64,959	-48,757	-26,270	78,294	40,368	-19,249	-1	7,413
Net Income Applicable To Common Shares	0	36,387	114,552	22,780	301,865	-5,702	-13,654	54,685	161,838	278,835	68,064	0	0	0	0	324	4,534	0	8,988	7,413
Net Income From Continuing Ops	20,968	42,045	24,859	27,097	-40,773	-3,048	33,272	53,749	322	291,155	78,816	0	0	0	0	0	0	0	0	0
Net Interest Income	-110,163	-87,246	-61,818	-48,222	-61,530	-59,482	-31,625	-27,414	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	-4,988	-37,468	-5,074	-17,818	-10,241	-6,988	68,808	6	270,829	-3,946	0	0	0	0	0	0	0	0	0
Non Recurring	0	20,552	0	0	32,881	0	17,325	16,000	9,165	16,000	12,918	0	0	0	0	0	0	0	0	0
Operating Income	90,069	175,568	139,503	94,833	87,578	56,628	27,204	19,061	41,214	55,658	122,906	53,817	240	-21,040	-44,658	27,869	32,975	-7,257	-1	10,549
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	1,879,407	2,067,924	1,702,165	1,465,924	1,357,176	1,300,692	1,225,200	934,044	755,005	926,642	895,710	814,909	749,529	1,639,814	1,233,598	1,510,604	884,928	418,130	1	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	157,544	138,809	117,643	102,752	87,308	120,575	110,051	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	14,600	12,900	11,900	3,000	900	1,600	1,900	1,700	4,400	15,700	16,000	11,800	8,400	5,500	3,900	3,500	1,455	1,806	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	605,646	553,637	506,147	371,264	335,181	320,085	318,484	217,830	146,957	204,405	167,738	178,774	201,055	308,300	231,998	289,793	190,842	97,909	80,172	48,671
Tax Provision	28,655	45,029	18,337	16,894	14,742	6,548	-40,679	9,469	15,001	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	713,854	711,624	586,454	467,948	426,366	413,214	403,180	282,305	203,494	238,011	216,002	209,042	225,562	337,612	256,607	314,398	211,218	106,489	1	0
Total Other Income Expense Net	-87,657	-88,494	-96,307	-50,842	-113,609	-5,889	-20,311	46,367	-6,947	273,072	31,215	-16,178	-32,250	-39,906	-65,510	894	-40	-7,734	0	0
Total Revenue	2,058,876	2,264,044	1,841,668	1,560,757	1,450,253	1,357,320	1,269,729	978,309	805,384	982,300	985,539	884,721	777,538	1,657,609	1,248,740	1,538,473	917,903	410,873	543,150	315,407

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2004-12-31
Cost Of Revenue	258,540	315,347	287,269	304,397	360,090	358,291	303,840	309,698	297,404	296,027	294,683	274,747	302,672	265,119	216,224	213,961	246,209	251,778	213,521	266,300	304,832	298,996	279,075	234,582	222,468	206,232	197,661	195,659	215,195	169,870	150,167	141,786	148,979	139,169	198,766	185,355	191,303	141,090	186,542	169,696	163,056	183,040	168,418	165,194	150,831	164,281	157,115	155,810	-523,144	378,755	333,819	334,537	339,743	361,236	318,630	282,593	283,149	253,175	223,362	217,305	286,224	322,606	311,049	286,854	207,673	172,290	160,044	133,703	101,889	138,875	70,877	5,006	440,259	253,644
Depreciation And Amortization	25,395	26,657	26,677	26,496	27,192	34,328	31,147	31,696	32,245	28,519	28,775	28,104	18,429	25,392	26,380	21,806	13,523	21,923	15,716	27,621	18,796	30,747	34,198	22,933	12,747	26,077	31,187	31,395	11,103	22,252	8,609	14,908	7,752	9,953	15,710	16,535	19,812	11,350	12,549	11,985	7,248	11,546	7,444	11,611	11,577	11,430	13,353	13,090	15,756	12,553	7,689	10,314	14,136	10,254	9,725	8,423	8,007	8,230	8,359	8,400	8,965	8,825	9,524	9,676	6,486	6,756	7,089	5,000	4,129	4,134	1,449	0	0	0
Discontinued Operations	0	1,274	1,274	1,274	2,500	1,479	3,470	10,322	29,180	71,581	71,581	71,581	71,581	100	100	100	2,013	2,039	15,474	-586	3,022	93	93	93	-1,845	3,205	-1,360	340	928	-455	413	0	157,980	3,819	0	0	20,419	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	24,861	61,041	43,950	48,897	37,805	48,747	50,311	44,602	14,204	42,131	47,193	43,181	30,843	34,760	10,457	13,699	25,483	30,655	19,190	13,370	15,952	23,819	17,087	2,219	24,039	15,493	7,132	-9,123	20,930	58,365	34,975	-269	7,318	26,085	35,791	-3,282	16,119	9,193	21,284	17,718	13,772	27,187	23,647	23,062	18,366	20,376	18,011	11,658	-12,805	19,940	14,602	6,305	2,663	21,224	9,088	-15,160	7,528	7,936	2,990	-2,134	-13,443	20,830	4,496	3,657	15,993	8,137	5,491	3,394	-6,808	2,638	4,695	0	0	0
Ebitda	50,256	87,698	70,627	75,393	64,997	83,075	81,458	76,298	46,449	70,650	75,968	71,285	49,272	60,152	36,837	35,505	39,006	52,578	34,906	40,991	34,748	54,566	51,285	25,152	36,786	41,570	38,319	22,272	32,033	80,617	43,584	14,639	15,070	36,038	51,501	13,253	35,931	20,543	33,833	29,703	21,020	38,733	31,091	34,673	29,943	31,806	31,364	24,748	2,951	32,493	22,291	16,619	16,799	31,478	18,813	-6,737	15,535	16,166	11,349	6,266	-4,478	29,655	14,020	13,333	22,479	14,893	12,580	8,394	-2,679	6,772	6,144	-1	0	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	810	2,039	345,331	123,604	3,022	0	0	0	340	0	0	0	2,897	0	0	0	164,819	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	97,075	0	0	0	0	0	0	0	0	0	0	0	77,970	0	0	0	35,834	0	0	0	8,387	0	0	0	0	0
Gross Profit	164,384	254,218	236,890	237,831	234,831	239,316	211,757	200,815	171,998	192,131	192,755	186,849	172,106	153,784	117,403	119,488	140,790	136,535	122,563	136,189	147,691	149,704	150,682	126,111	125,931	117,725	109,720	94,333	103,366	82,415	79,221	66,261	69,107	68,979	85,961	71,916	72,725	62,050	82,542	76,352	69,629	82,472	77,357	76,373	67,319	76,947	72,901	76,593	-41,482	111,200	94,265	89,588	99,158	99,531	85,692	71,026	78,910	71,064	64,166	57,609	88,603	90,995	87,861	85,901	80,410	62,992	58,175	42,616	30,464	44,962	23,806	6,717	102,753	61,614
Income Before Tax	-58,492	913	17,335	22,839	-8,516	22,269	32,664	28,353	-1,957	28,276	-1,059	29,516	17,197	22,409	-717	5,102	8,910	-24,182	745	-10,512	-4,160	8,120	3,507	-3,967	10,454	8,548	-1,286	-25,123	1,493	53,438	20,946	-11,731	5,441	14,880	32,408	-21,907	5,493	266,458	14,331	13,137	-3,021	83,410	7,831	11,325	-1,475	14,140	9,691	5,005	-41,758	16,989	12,065	-4,147	2,712	-24,269	6,021	-18,099	4,589	4,918	-756	-69,677	4,899	9,279	-205	-532	12,827	7,686	4,390	2,262	-26,120	740	4,287	2,038	14,138	7,498
Income Tax Expense	1,104	5,947	4,444	9,836	5,828	21,163	6,132	9,976	-6,325	9,556	10,192	7,520	8,417	1,606	6,649	222	4,367	4,400	4,551	403	2,401	2,354	4,139	-2,346	-38,677	192	1,454	-3,648	-309	4,894	1,588	3,296	5,700	3,756	5,833	3,380	-3,440	3,928	2,012	5,764	2,041	5,114	5,875	7,699	3,950	7,361	5,659	4,116	-1,615	4,519	3,799	2,420	2,035	5,148	6,764	-2,812	4,639	2,130	-606	-27,444	2,904	3,067	848	553	4,992	2,711	1,651	1,337	135	3,582	1,581	802	5,150	85
Interest Expense	24,777	27,560	26,615	26,180	25,769	22,799	17,519	16,913	14,730	13,855	14,947	13,665	13,646	12,351	11,174	8,597	9,792	11,525	18,445	18,582	20,112	15,699	13,580	6,186	5,124	6,945	8,418	7,136	1,447	4,376	7,366	11,462	1,877	11,205	3,125	9,718	10,626	7,060	4,810	4,581	4,775	5,080	4,219	5,341	5,395	5,924	7,707	6,029	5,133	2,631	2,340	2,539	3,057	2,926	2,860	2,701	2,818	2,681	2,695	3,542	22,027	4,199	4,674	4,690	8,655	1,202	1,583	1,486	2,716	2,340	1,073	1,172	4,453	2,100
Interest Income	0	0	0	6	0	0	0	18	0	0	0	83	0	0	0	9,122	10,481	17,188	44,054	24,681	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-2,004	-6,394	3,517	4,981	2,120	4,359	3,635	4,937	-842	-2,056	131,136	3,002	414	1,717	1,071	1,215	1,613	1,242	1,387	1,300	711	1,040	1,441	720	8,113	-650	-1,372	-470	-164	-682	-119	-996	1,127	-1,428	2,118	-385	-23,066	1,432	6,600	2,714	1,286	4,909	2,525	2,032	1,512	2,959	2,361	1,676	998	2,587	1,096	960	1,946	642	717	682	1,630	687	0	0	1,198	1,590	1,218	0	10,558	538	76	0	150	780	315	0	0	0
Net Income	137,437	-10,154	13,606	13,003	-14,344	1,106	26,367	18,377	22,088	88,100	-14,630	18,994	8,366	19,186	-8,437	3,665	3,808	-27,785	216,534	109,308	-7,179	4,726	-908	-2,341	46,002	7,706	-4,112	-21,605	1,764	49,705	19,239	-16,023	-2,217	164,500	24,457	-24,902	7,359	261,098	5,719	4,659	-6,348	73,387	-569	1,594	-6,718	3,486	76	-786	57,459	8,096	6,378	-6,974	-1,269	-30,059	-1,460	-15,969	-1,680	2,101	627	-27,318	1,228	5,258	72,602	-795	-3,440	4,355	2,532	36,921	-17,477	-3,884	2,112	-1	8,988	7,413
Net Income Applicable To Common Shares	0	-24,232	13,606	105,397	-11,968	-1,774	26,367	23,762	22,088	88,100	-14,630	18,994	8,366	19,186	-8,437	3,665	3,808	-27,785	216,534	109,308	-5,366	4,726	-908	-4,154	4,357	7,706	-4,112	-21,605	1,764	49,705	19,239	-16,023	712	164,500	24,457	-24,902	7,359	261,098	5,719	4,659	-5,323	73,387	-1,594	1,594	-3,820	3,820	1,671	0	-483	483	1,506	0	0	0	0	0	-2,101	2,101	627	0	797	4,622	0	0	1,079	3,455	1,382	52	0	-330	330	0	8,988	7,413
Net Income From Continuing Ops	-59,596	-5,034	21,779	32,675	-78,512	43,432	38,796	38,329	-59,142	18,720	-11,251	37,036	8,780	20,803	-7,366	4,880	2,530	-28,582	-3,806	-10,915	-6,561	5,766	-632	-1,621	49,131	8,356	-2,740	-21,475	874	48,544	19,358	-15,027	8,991	11,124	26,575	-25,287	8,933	262,530	12,319	7,373	0	78,296	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-25,828	-28,565	-27,639	-27,185	-26,774	-23,803	-18,384	-18,285	-17,044	-14,614	-15,669	-14,491	-14,305	-13,011	-11,784	-9,122	-10,481	-12,295	-19,373	-19,509	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	-1,125	122	-2,351	-3,679	-128	1,170	-137	272	-34,690	-2,913	-1,107	-1,107	-2,996	136	-8,805	-6,497	-1,018	-1,498	-4,169	-435	-3,158	-2,479	-1,378	1,016	-51	-6,575	12,348	46,456	17,777	-7,773	0	10,273	11,576	-14,299	10,028	263,798	-2,620	-377	0	-615	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	20,552	0	0	0	0	0	0	0	0	0	0	0	-500	33,381	0	0	0	0	0	0	8,461	27,801	-26,995	8,864	16,000	-48,000	16,000	0	16,000	0	258	8,907	16,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	-32,338	28,435	45,075	48,897	37,805	48,747	50,311	44,602	14,365	41,859	48,578	46,234	31,950	35,867	13,453	13,563	27,644	-1,267	20,208	14,868	20,120	24,254	20,245	4,698	16,956	14,477	7,183	-11,412	-10,867	11,358	10,535	7,504	14,196	15,812	23,957	2,110	6,082	9,720	21,761	18,095	2,306	89,105	14,673	16,822	4,362	20,368	18,001	11,625	-32,903	19,938	14,602	-1,397	6,261	-21,212	9,086	-15,175	6,461	7,902	2,974	-61,995	8,952	13,362	4,598	3,992	15,678	8,382	5,509	3,406	-15,136	2,843	5,037	-1	19,253	10,549
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	398,430	508,562	479,084	493,331	554,791	548,860	465,286	465,911	455,037	446,299	438,860	415,362	442,828	383,036	320,174	319,886	359,855	356,199	315,876	387,621	432,403	424,446	409,512	355,995	322,982	309,480	300,198	292,540	311,438	240,376	212,190	200,543	203,890	192,336	260,512	246,254	257,946	193,420	247,323	227,953	218,361	237,710	221,290	218,349	197,793	220,860	212,015	220,778	551,792	470,017	413,482	417,822	436,240	439,544	395,236	368,794	355,598	316,337	284,554	277,109	376,828	396,481	394,312	368,763	272,405	226,900	212,710	172,913	147,489	180,994	89,646	1	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	25,395	26,657	26,677	26,374	39,029	37,473	31,275	31,032	32,245	28,519	28,775	28,104	29,174	25,392	26,380	21,806	22,048	21,923	15,716	27,621	32,697	30,747	34,198	22,933	21,392	26,077	31,187	31,395	33,433	22,252	15,012	14,908	13,329	9,953	15,710	16,535	19,812	11,350	12,549	11,985	11,557	11,546	11,513	11,611	11,577	11,430	13,353	13,090	15,756	12,553	10,486	10,314	14,136	10,254	9,725	8,005	8,007	8,230	8,359	8,400	8,965	8,825	9,524	9,676	6,486	6,756	7,089	5,000	4,129	4,134	1,449	0	0	0
Research Development	0	0	0	0	12,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,600	0	0	0	1,900	0	0	0	1,700	0	0	0	2,100	0	0	0	15,700	0	0	0	16,000	0	0	0	11,800	0	0	0	8,400	0	0	0	5,500	0	0	0	3,900	0	0	0	3,500	0	0	335	335	433	389	253	253	279	1,273	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	107,244	147,962	148,218	146,165	150,209	165,417	140,525	135,108	133,828	131,216	125,330	122,016	110,414	102,695	89,171	92,420	91,445	90,901	88,833	104,281	97,323	107,888	111,418	108,714	79,382	89,081	87,758	86,571	77,128	62,083	46,738	50,931	41,011	45,436	52,331	50,886	54,832	45,562	53,103	50,908	43,067	47,360	40,994	45,525	45,724	43,851	47,136	57,168	230,347	82,790	71,974	75,583	88,254	70,839	69,129	80,078	66,454	56,994	54,942	53,608	84,431	67,704	77,132	74,997	59,858	49,208	46,695	35,379	42,729	38,975	16,205	0	1	48,671
Tax Provision	1,104	5,947	4,444	9,836	5,828	21,163	6,132	9,976	-6,325	9,556	10,192	7,520	8,417	1,606	6,649	222	4,367	4,400	4,551	1,424	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	139,890	193,215	191,815	188,934	194,701	190,569	161,446	156,213	157,633	150,272	144,177	140,615	140,156	117,917	103,950	105,925	113,646	104,421	102,355	121,321	127,571	125,450	130,437	121,413	100,514	103,248	102,537	96,881	96,243	70,506	62,023	58,757	54,911	53,167	61,746	60,899	66,643	52,330	60,781	58,257	55,305	54,670	52,872	53,155	46,962	56,579	54,900	64,968	-28,648	91,262	79,663	83,285	96,497	78,308	76,606	86,201	72,449	63,162	61,192	59,804	90,604	73,875	83,263	81,909	64,732	54,610	52,666	39,210	45,600	42,119	18,769	1	0	0
Total Other Income Expense Net	-57,158	-31,525	-101	-26,058	-46,321	-26,478	-17,647	-16,249	722	1,031	-33,968	-2,227	-448	-447	-2,386	661	-7,753	-44,001	-90	-5,871	-3,241	492	-2,205	-1,381	-8,777	2,020	952	-14,506	-3,247	46,592	11,684	-7,203	-6,317	10,834	11,863	-22,661	10,582	264,343	-2,037	184	-12,004	61,228	-11,940	-6,069	-14,629	-312	-613	-624	-23,820	-320	-197	-7,913	3,106	-42,567	-207	-238	-121	-337	-1,051	-64,001	11,442	-3,710	102	335	-315	245	18	12	-8,328	205	342	-1,007	0	0
Total Revenue	422,924	569,565	524,159	542,228	594,921	597,607	515,597	510,513	469,402	488,158	487,438	461,596	474,778	418,903	333,627	333,449	386,999	388,313	336,084	402,489	452,523	448,700	429,757	360,693	348,399	323,957	307,381	289,992	318,561	252,285	229,388	208,047	218,086	208,148	284,727	257,271	264,028	203,140	269,084	246,048	232,685	265,512	245,775	241,567	218,150	241,228	230,016	232,403	-564,626	489,955	428,084	424,125	438,901	460,767	404,322	353,619	362,059	324,239	287,528	274,914	374,827	413,601	398,910	372,755	288,083	235,282	218,219	176,319	132,353	183,837	94,683	11,723	543,150	315,258

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	2,058,876
Cost of Revenue	-1,165,553
Gross Profit	893,323	893,323

Operating Income (+$)
Gross Profit	893,323
Operating Expense	-713,854
Operating Income	90,069	179,469

Operating Expense (+$)
Research Development	14,600
Selling General Administrative	605,646
Selling And Marketing Expenses	0
Operating Expense	713,854	620,246

Net Interest Income (+$)
Interest Income	1,951
Interest Expense	-105,132
Other Finance Cost	-6,982
Net Interest Income	-110,163

Pretax Income (+$)
Operating Income	90,069
Net Interest Income	-110,163
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	-17,405	177,726 EBIT - interestExpense = 73,739 267,617 351,418
Interest Expense	105,132
Earnings Before Interest and Taxes (EBIT)	178,871	87,727
Earnings Before Interest and Taxes (EBITDA)	321,238

After tax Income (+$)
Income Before Tax	-17,405
Tax Provision	-28,655
Net Income From Continuing Ops	20,968	-46,060
Net Income	246,286
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	1,879,407
Total Other Income/Expenses Net	-87,657	110,163

Technical Analysis of Compass Diversified Holdings
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Compass Diversified Holdings. The general trend of Compass Diversified Holdings is BULLISH with 57.1% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Compass Diversified Holdings's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (57.1%)		Bearish trend (-57.1%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Compass Diversified Holdings.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is -1/(-1 +1).

Around resistance: The price is trading arround resistance levels. This can be considered as a potential exit level. -1

The bullish price targets are: 23.11 < 23.88 < 23.96.

The bearish price targets are: 21.16 > 20.64 > 20.03.

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Compass Diversified Holdings Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Compass Diversified Holdings. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close < MA 50: The price is below the MA 50. -1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Compass Diversified Holdings Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Compass Diversified Holdings. The current macd is -0.15786029.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Compass Diversified Holdings price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Compass Diversified Holdings. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Compass Diversified Holdings price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

Compass Diversified Holdings Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Compass Diversified Holdings. The current adx is 14.11.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -1/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Compass Diversified Holdings shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

Compass Diversified Holdings Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Compass Diversified Holdings. The current sar is 23.35.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Compass Diversified Holdings Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Compass Diversified Holdings. The current rsi is 48.40. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is -2/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Compass Diversified Holdings Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Compass Diversified Holdings. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Compass Diversified Holdings price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Compass Diversified Holdings Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Compass Diversified Holdings. The current cci is -50.47712042.

Compass Diversified Holdings Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Compass Diversified Holdings. The current cmo is -2.13397998.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Compass Diversified Holdings Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Compass Diversified Holdings. The current willr is -51.04114355.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Compass Diversified Holdings is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

Compass Diversified Holdings Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Compass Diversified Holdings.

Compass Diversified Holdings Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Compass Diversified Holdings. The current atr is 0.46312737.

Compass Diversified Holdings Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Compass Diversified Holdings. The current obv is -12,728,471.

Compass Diversified Holdings Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Compass Diversified Holdings. The current mfi is 55.19.

The long score for the Money Flow Index (MFI) is 1/2.
The longshort score for the Money Flow Index (MFI) is 1/(-2 +2).

MFI > 50: +1

Compass Diversified Holdings Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Compass Diversified Holdings.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-01	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-08	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2023-12-11	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-12	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-14	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-29	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-01-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-01-03	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-08	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-10	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-01-12	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-22	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-23	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-01-30	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-31	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-01	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-02	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-02-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-13	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-14	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-22	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2024-02-23	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-26	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-28	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-29	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-01	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2024-03-04	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-05	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-07	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-11	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-03-13	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-03-14	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-18	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-25	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-27	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-02	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-09	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-04-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-11	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-15	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-16	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-19	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).

6.3. Candlestick Patterns

Compass Diversified Holdings Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Compass Diversified Holdings based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	48.404
Ma 20	Greater than	Ma 50	23.197
Ma 50	Greater than	Ma 100	23.065
Ma 100	Greater than	Ma 200	22.211
Open	Greater than	Close	22.870
Total			3/5 (60.0%)

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Quick analysis of Compass Diversified Holdings (30 sec.)

What can you expect buying and holding a share of Compass Diversified Holdings? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Compass Diversified Holdings (5 min.)

$22.95

$20.17

$-9.65 - $4.78

$10.52 - $24.95

2. Growth of Compass Diversified Holdings (5 min.)

Is Compass Diversified Holdings growing?

How much money is Compass Diversified Holdings making?

How much money comes from the company's main activities?

3. Financial Health of Compass Diversified Holdings (5 min.)

4. Comparing to competitors in the Conglomerates industry (5 min.)

Industry Rankings (Conglomerates)

What can you expect buying and holding a share of Compass Diversified Holdings? (5 min.)

What can you expect buying and holding a share of Compass Diversified Holdings?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Compass Diversified Holdings

About Compass Diversified Holdings

Financial Health

Valuation

1.1. Profitability of Compass Diversified Holdings.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Conglomerates)

1.1.2. Return on Assets

Trends

Compared to industry (Conglomerates)

1.1.3. Return on Equity

Trends

Compared to industry (Conglomerates)

1.2. Operating Efficiency of Compass Diversified Holdings.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Conglomerates)

1.2.2. Operating Ratio

Trends

Compared to industry (Conglomerates)

1.3. Liquidity of Compass Diversified Holdings.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Conglomerates)

1.3.2. Quick Ratio

Trends

Compared to industry (Conglomerates)

1.4. Solvency of Compass Diversified Holdings.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Conglomerates)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Conglomerates)

2. Market Valuation of Compass Diversified Holdings

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Conglomerates)

Compass Diversified Holdings
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