WARD Financials: %{var1} AI Analysis

Breakdown	TTM	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021
Revenue	669	669	593	669	637	517
Revenue Growth (YoY)	13%	13%	-11%	5%	23%	11%
Cost of Revenue	460	460	403	434	421	351
Gross Profit	208	208	189	234	215	166
Selling, General & Admin	127	127	116	125	116	95
Research & Development	23	23	21	22	19	19
Operating Expenses	153	153	139	150	139	118
Other Non Operating Income (Expenses)	1	1	0	0	6	3
Pretax Income	45	45	50	82	73	48
Income Tax Expense	10	10	13	19	19	13
Net Income	35	35	37	63	54	35
Net Income Growth	-5%	-5%	-41%	17%	54%	21%
Shares Outstanding (Diluted)	4.91	4.94	4.94	4.99	5	5
Shares Change (YoY)	0%	0%	-1%	0%	0%	0%
EPS (Diluted)	7.17	7.13	7.49	12.67	10.88	7.14
EPS Growth	-5%	-5%	-41%	16%	52%	20%
Free Cash Flow	33	33	52	72	-14	15
Free Cash Flow Per Share	--	--	--	--	--	--
Gross Margin	31.09%	31.09%	31.87%	34.97%	33.75%	32.1%
Operating Margin	8.22%	8.22%	8.43%	12.55%	11.77%	9.09%
Profit Margin	5.23%	5.23%	6.23%	9.41%	8.47%	6.76%
Free Cash Flow Margin	4.93%	4.93%	8.76%	10.76%	-2.19%	2.9%
EBITDA	78	78	70	102	91	62
EBITDA Margin	11.65%	11.65%	11.8%	15.24%	14.28%	11.99%
D&A For EBITDA	23	23	20	18	16	15
EBIT	55	55	50	84	75	47
EBIT Margin	8.22%	8.22%	8.43%	12.55%	11.77%	9.09%
Effective Tax Rate	22.22%	22.22%	26%	23.17%	26.02%	27.08%

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