G - Genpact Ltd Stock Price, Fair Value and News

30.89USD+0.33 (+1.08%)Market Closed

Market Summary

USD30.89+0.33

Market Closed

1.08%

G Stock Price

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G RSI Chart

G Valuation

Market Cap

5.6B

Price/Earnings (Trailing)

8.84

Price/Sales (Trailing)

1.25

EV/EBITDA

8.06

Price/Free Cashflow

12.82

G Price/Sales (Trailing)

G Profitability

Operating Margin

35.08%

EBT Margin

13.45%

Return on Equity

28.08%

Return on Assets

13.14%

Free Cashflow Yield

7.8%

G Fundamentals

G Revenue

Revenue (TTM)

4.5B

Rev. Growth (Yr)

3.96%

Rev. Growth (Qtr)

0.92%

G Earnings

Earnings (TTM)

631.3M

Earnings Growth (Yr)

224.72%

Earnings Growth (Qtr)

147.73%

Breaking Down G Revenue

Last 7 days

-2.7%

Last 30 days

-8.5%

Last 90 days

-12.6%

Trailing 12 Months

-31.3%

How does G drawdown profile look like?

G Financial Health

Current Ratio

1.44

Debt/Equity

0.37

Debt/Cashflow

0.6

G Investor Care

Dividend Yield

1.78%

Dividend/Share (TTM)

0.55

Buy Backs (1Y)

1.77%

Diluted EPS (TTM)

3.42

Historical Charts for Stock Metrics

Get all data in R, Python etc through our Historical Stock Data APIs

Net sales

Year	Q1	Q2	Q3	Q4
2023	4.4B	4.4B	4.4B	4.5B
2022	4.1B	4.2B	4.3B	4.4B
2021	3.7B	3.8B	3.9B	4.0B
2020	3.6B	3.7B	3.7B	3.7B
2019	3.1B	3.3B	3.4B	3.5B
2018	2.8B	2.9B	2.9B	3.0B
2017	2.6B	2.6B	2.7B	2.7B
2016	2.5B	2.5B	2.5B	2.6B
2015	2.3B	2.4B	2.4B	2.5B
2014	2.2B	2.2B	2.2B	2.3B
2013	2.0B	2.0B	2.1B	2.1B
2012	1.7B	1.8B	1.8B	1.9B
2011	1.3B	1.4B	1.5B	1.6B
2010	1.1B	1.2B	1.2B	1.3B
2009	0	1.1B	1.1B	1.1B
2008	0	0	0	1.0B

Get all data in R, Python etc through our Historical Stock Data APIs

GRUFITY'S FAIR VALUE MODEL

Stocks Marked 'Very Cheap' by Grufity's Fair Value Model Have Outperformed Russell 2000 Index

Small Caps and Mid Caps are mostly overlooked by investors as all the focus goes to Magnificent 7. These stocks that are not part of the beauty contest require a deeper look. However, all large cap stocks were once small caps. Grufity's Fair Value model opens up this unverse as it separates high-performing, rewarding stocks from low-performing risky stocks. <b>Russell 2000 stocks that were marked 'Very Cheap' by the model doubled in three years while the index was flat.</b>

Returns of $10,000 invested in:

Very Cheap Stocks: $21,859
Russell 2000 Index: $10,334
Very Expensive Stocks: $8,224

Russell 2000 stocks considered 'Very Cheap' by the model greatly outperformed Russell 2000 index and the 'Very Expensive' bucket over past three years.

Russell 2000 Index

Very Expensive Stocks

Very Cheap Stocks

Try For Just $1.99

Tracking the Latest Insider Buys and Sells of Genpact Ltd

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Mar 13, 2024	mehta piyush	acquired	-	-	68,659	senior vice president and chro
Mar 13, 2024	klunk donald j	acquired	-	-	3,699	chief accounting officer
Mar 13, 2024	nanduru anil	acquired	-	-	58,301	senior vice president
Mar 13, 2024	vashisht riju	acquired	-	-	58,301	senior vice president
Mar 13, 2024	weiner michael hal	acquired	-	-	79,017	chief financial officer
Mar 13, 2024	white heather	acquired	-	-	41,284	svp & chief legal officer
Mar 13, 2024	kalra balkrishan	acquired	-	-	96,848	president and ceo
Mar 13, 2024	dewan sameer	acquired	-	-	56,969	senior vice president
Feb 15, 2024	klunk donald j	sold	-66,910	36.2656	-1,845	chief accounting officer
Feb 13, 2024	conigliaro laura	gifted	-	-	-1,400	-

Which funds bought or sold G recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 17, 2024	NEW MEXICO EDUCATIONAL RETIREMENT BOARD	added	5.23	381,000	1,575,000	0.06%
Apr 17, 2024	Hennion & Walsh Asset Management, Inc.	reduced	-3.29	-28,530	319,681	0.02%
Apr 16, 2024	Sawyer & Company, Inc	added	1.62	-42,647	1,167,350	0.47%
Apr 16, 2024	MCF Advisors LLC	sold off	-100	-3,090	-	-%
Apr 16, 2024	Asset Dedication, LLC	sold off	-100	-5,000	-	-%
Apr 16, 2024	Sendero Wealth Management, LLC	unchanged	-	-39,204	733,962	0.13%
Apr 15, 2024	NorthCrest Asset Manangement, LLC	reduced	-6.29	-32,894	264,918	0.01%
Apr 15, 2024	JANICZEK WEALTH MANAGEMENT, LLC	unchanged	-	-906	16,970	-%
Apr 15, 2024	Ellsworth Advisors, LLC	added	9.87	-41,217	3,383,050	0.97%
Apr 15, 2024	EXCHANGE TRADED CONCEPTS, LLC	sold off	-100	-574,034	-	-%

Are Funds Buying or Selling G?

Are funds buying G calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own G

No. of Funds

Unveiling Genpact Ltd's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	9.35%	16,954,313	SC 13G/A
Feb 09, 2024	fmr llc	-	0	SC 13G/A
Feb 08, 2024	wellington management group llp	5.47%	9,926,185	SC 13G/A
Feb 07, 2024	blackrock inc.	10.1%	18,394,498	SC 13G/A
Jan 24, 2024	blackrock inc.	9.5%	17,170,217	SC 13G/A
Jun 08, 2023	blackrock inc.	10.3%	18,947,177	SC 13G/A
Feb 23, 2023	blackrock inc.	8.5%	15,507,019	SC 13G/A
Feb 10, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.14%	16,741,780	SC 13G/A

Recent SEC filings of Genpact Ltd

View All Filings

Date Filed	Form Type	Document
Apr 10, 2024	DEFA14A	DEFA14A
Mar 20, 2024	DEF 14A	DEF 14A
Mar 20, 2024	DEFA14A	DEFA14A
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading
Mar 15, 2024	4	Insider Trading

Peers (Alternatives to Genpact Ltd)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ACN	198.8B	64.6B	-16.41%	12.90%	28.27	3.08	2.26%	1.32%
IBM	166.3B	61.9B	-6.18%	43.60%	22.17	2.69	2.20%	357.72%
CTSH	33.4B	19.4B	-10.07%	11.42%	15.72	1.73	-0.39%	-7.16%
CDW	31.6B	21.4B	-5.00%	42.68%	28.63	1.48	-9.99%	-0.92%
BR	22.7B	6.3B	-4.57%	33.78%	33.24	3.6	8.37%	28.40%
MID-CAP
CACI	8.1B	7.1B	-1.64%	17.76%	21.44	1.14	10.03%	3.79%
EXLS	4.8B	1.6B	-8.43%	-12.79%	26.16	2.96	15.48%	29.09%
ASGN	4.4B	4.5B	-7.01%	19.78%	20.26	1	-2.85%	-18.20%
DXC	3.6B	13.9B	-6.09%	-21.39%	-7.7	0.26	-6.57%	-164.76%
XRX	2.0B	6.9B	-3.80%	13.46%	2.0K	0.29	-3.11%	100.31%
SMALL-CAP
CTG	1.5B	302.0M	32.14%	1286.81%	2.8K	4.93	-16.01%	-96.16%
GDYN	777.2M	312.9M	-20.23%	-12.02%	-440.35	2.48	0.78%	93.96%
CNDT	634.1M	3.7B	-9.58%	-10.91%	-2.14	0.17	-3.53%	-62.64%
DMRC	470.0M	34.9M	-16.45%	30.90%	-10.23	13.49	15.41%	23.14%
CSPI	138.3M	61.7M	-30.60%	-0.57%	33.17	2.24	2.22%	29.66%

Genpact Ltd News

Latest updates

Genpact Ltd Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Income Statement (Quarterly)																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Revenue	0.9%	1,146	1,136	1,106	1,089	1,103	1,111	1,089	1,068	1,072	1,016	988	946	951	936	900	923	941	889	882	809	835
Cost Of Revenue	0.8%	739	733	715	719	717	717	714	686	703	654	633	601	614	606	594	605	631	574	571	519	533
Gross Profit	1.2%	408	403	390	370	385	394	375	382	370	362	355	345	337	330	306	318	310	315	311	290	302
S&GA Expenses	3.3%	237	230	229	216	237	231	233	237	245	216	204	201	208	198	186	197	213	195	196	191	179
EBITDA Margin	3.4%	0.16*	0.16*	0.15*	0.14*	0.14*	0.14*	0.14*	0.15*	0.16*	0.16*	0.16*	-	-	-	-	-	-	-	-	-	-
Interest Expenses	82.6%	16.00	9.00	16.00	6.00	21.00	7.00	21.00	2.00	21.00	4.00	17.00	4.00	21.00	4.00	19.00	5.00	13.00	8.00	15.00	8.00	6.00
Income Taxes	-456.0%	-132	37.00	34.00	32.00	33.00	25.00	24.00	30.00	31.00	21.00	33.00	29.00	25.00	25.00	17.00	25.00	32.00	23.00	21.00	18.00	27.00
Earnings Before Taxes	2.3%	158	155	150	138	123	121	95.00	126	104	124	135	120	100	110	79.00	111	114	111	95.00	79.00	107
EBT Margin	5.2%	0.13*	0.13*	0.12*	0.11*	0.11*	0.10*	0.11*	0.12*	0.12*	0.12*	0.12*	-	-	-	-	-	-	-	-	-	-
Net Income	147.7%	291	118	116	106	90.00	96.00	72.00	96.00	73.00	102	103	91.00	75.00	85.00	62.00	86.00	82.00	88.00	74.00	61.00	79.00
Net Income Margin	45.5%	0.14*	0.10*	0.09*	0.08*	0.08*	0.08*	0.08*	0.09*	0.09*	0.10*	0.09*	-	-	-	-	-	-	-	-	-	-
Free Cashflow	17.3%	174	148	160	-46.64	214	218	92.00	-131	225	198	153	-	-	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	4.5%	4,806	4,599	4,482	4,506	4,589	4,537	4,540	4,971	4,975	5,049	4,899	4,788	4,874	4,804	4,846	4,403	4,454	4,098	4,013	3,905	3,529
Current Assets	1.2%	1,892	1,870	1,748	1,734	1,779	1,758	1,719	1,985	1,922	2,075	1,882	1,712	1,749	1,879	1,916	1,479	1,552	1,557	1,460	1,395	1,355
Cash Equivalents	7.9%	584	541	491	552	647	519	460	862	899	922	753	644	680	803	867	402	467	457	378	325	368
Net PPE	5.6%	190	180	180	179	181	180	189	203	215	208	205	218	231	237	234	246	254	216	211	207	213
Goodwill	0.4%	1,684	1,678	1,685	1,687	1,684	1,681	1,687	1,722	1,731	1,686	1,687	1,689	1,696	37.00	1,557	1,555	1,574	1,389	1,400	1,400	1,394
Liabilities	-1.2%	2,557	2,589	2,549	2,581	2,763	2,805	2,790	3,124	3,078	3,096	3,060	3,038	3,039	3,026	3,185	2,830	2,765	2,492	2,429	2,410	2,125
Current Liabilities	34.6%	1,318	979	931	945	1,103	1,633	1,091	1,383	1,309	1,312	1,241	844	1,203	1,147	1,283	944	910	1,064	1,003	1,012	976
Short Term Borrowings	-81.8%	10.00	55.00	103	180	151	200	250	250	-	-	-	-	250	245	495	165	70.00	245	290	320	295
Long Term Debt	-33.0%	825	1,230	1,237	1,243	1,249	747	1,256	1,264	1,272	1,281	1,289	1,646	1,307	1,315	1,324	1,332	1,340	951	959	967	976
LT Debt, Current	1553.0%	432	26.00	26.00	26.00	26.00	535	34.00	384	383	383	383	34.00	34.00	34.00	34.00	34.00	34.00	34.00	33.00	34.00	33.00
LT Debt, Non Current	-33.0%	825	1,230	1,237	1,243	1,249	747	1,256	1,264	1,272	1,281	1,289	1,646	1,307	1,315	1,324	1,332	1,340	951	959	967	976
Shareholder's Equity	11.9%	2,248	2,009	1,933	1,925	1,826	1,732	1,750	1,847	1,897	1,953	1,839	1,750	1,834	1,777	1,661	1,573	1,689	1,606	1,583	1,495	1,404
Retained Earnings	21.4%	1,085	894	801	831	780	745	702	730	732	830	748	679	742	749	710	667	649	589	541	483	438
Additional Paid-In Capital	1.5%	1,884	1,856	1,831	1,795	1,777	1,740	1,717	1,694	1,717	1,690	1,658	1,630	1,636	1,612	1,590	1,566	1,571	1,545	1,520	1,494	1,471
Shares Outstanding	-1.1%	179	181	181	184	183	183	185	186	188	188	188	189	-	-	-	-	-	-	-	-	-
Float	-	-	-	6,776	-	-	-	7,724	-	-	-	8,472	-	-	-	6,941	-	-	-	-	-	-

Cashflow (Last 12 Months)

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Cashflow (Quarterly)																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	18.8%	192	162	171	-34.06	230	226	102	-114	247	210	161	77.00	159	252	192	-18.65	87.00	220	126	-5.42	137
Share Based Compensation	10.8%	25.00	22.00	22.00	20.00	22.00	19.00	20.00	15.00	23.00	21.00	20.00	17.00	18.00	19.00	19.00	17.00	23.00	21.00	22.00	18.00	17.00
Cashflow From Investing	-33.3%	-18.87	-14.16	-12.32	-33.59	1.00	-8.23	-11.26	-17.77	-85.49	-8.25	-10.47	-18.53	-210	-16.69	-15.31	-23.88	-271	-34.38	-24.82	-26.81	-76.29
Cashflow From Financing	-79.7%	-144	-80.54	-216	-41.24	-100	-113	-458	101	-181	-20.64	-40.58	-89.89	-90.39	-305	306	-1.81	194	-94.07	-54.28	-5.85	-83.12
Dividend Payments	-0.6%	25.00	25.00	25.00	25.00	23.00	23.00	23.00	23.00	20.00	20.00	20.00	20.00	18.00	19.00	19.00	19.00	16.00	16.00	16.00	16.00	14.00
Buy Backs	-	75.00	-	120	30.00	32.00	30.00	76.00	76.00	151	-	13.00	134	64.00	29.00	-	45.00	6.00	24.00	-	-	24.00

G Income Statement

2023-12-31

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net revenues	$ 4,476,888	$ 4,371,172	$ 4,022,211
Cost of revenue	2,906,223	2,834,774	2,590,252
Gross profit	1,570,665	1,536,398	1,431,959
Operating expenses:
Selling, general and administrative expenses	913,061	938,385	865,715
Amortization of acquired intangible assets	31,463	42,667	58,448
Other operating (income) expense, net	(4,716)	53,195	(1,203)
Income from operations	630,857	502,151	508,999
Foreign exchange gains (losses), net	4,274	15,392	12,669
Interest income (expense), net	(47,935)	(52,204)	(51,434)
Other income (expense), net	15,028	(103)	12,895
Income before income tax expense (benefit)	602,224	465,236	483,129
Income tax expense (benefit)	(29,031)	111,832	113,681
Net income	$ 631,255	$ 353,404	$ 369,448
Earnings per common share
Earnings per common share, basic (in usd per share)	$ 3.46	$ 1.92	$ 1.97
Earnings per common share, diluted (in usd per share)	$ 3.41	$ 1.88	$ 1.91
Weighted average number of common shares used in computing earnings per common share
Weighted average number of common shares used in computing basic earnings per common share (in shares)	182,345,548	184,184,930	187,802,219
Weighted average number of common shares used in computing dilutive earnings per common share (in shares)	185,141,843	188,087,240	192,961,841

G Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 583,670	$ 646,765
Accounts receivable, net of allowance for credit losses of $20,442 and $18,278 as of December 31, 2022 and 2023, respectively	1,116,273	994,755
Prepaid expenses and other current assets	191,566	137,972
Total current assets	1,891,509	1,779,492
Property, plant and equipment, net	189,803	180,758
Operating lease right-of-use assets	186,167	198,366
Deferred tax assets	298,921	135,483
Intangible assets, net	53,028	89,715
Goodwill	1,683,782	1,684,196
Contract cost assets	202,543	216,670
Other assets, net of allowance for credit losses of $3,198 and $4,096 as of December 31, 2022 and 2023, respectively	299,960	304,134
Total assets	4,805,713	4,588,814
Current liabilities
Short-term borrowings	10,000	151,000
Current portion of long-term debt	432,242	26,136
Accounts payable	27,739	35,809
Income taxes payable	38,458	45,306
Accrued expenses and other current liabilities	759,180	791,007
Operating leases liability	50,313	54,063
Total current liabilities	1,317,932	1,103,321
Long-term debt, less current portion	824,720	1,249,153
Operating leases liability	168,015	190,398
Deferred tax liabilities	11,706	4,176
Other liabilities	234,948	215,608
Total liabilities	2,557,321	2,762,656
Shareholders' equity
Preferred shares, $0.01 par value, 250,000,000 authorized, none issued	0	0
Common shares, $0.01 par value, 500,000,000 authorized, 182,924,416 and 179,494,132 issued and outstanding as of December 31, 2022 and 2023, respectively	1,789	1,823
Additional paid-in capital	1,883,944	1,777,453
Retained earnings	1,085,209	780,007
Accumulated other comprehensive income (loss)	(722,550)	(733,125)
Total equity	2,248,392	1,826,158
Commitments and contingencies
Total liabilities and equity	$ 4,805,713	$ 4,588,814

About Genpact Ltd

Genpact Limited provides business process outsourcing and information technology (IT) services in India, rest of Asia, North and Latin America, and Europe. It operates through three segments: Financial services; Consumer and Healthcare; and High Tech and Manufacturing. The company offers CFO advisory services; and environmental, social, and governance (ESG) services, such as data management, carbon accounting, human rights assessment, sustainability diligence, and ESG reporting. It also provides finance and accounting services, which include accounts payable, such as document management, invoice processing, approval and resolution management, and travel and expense processing; invoice-to-cash services, including customer master data management, credit and contract management, fulfillment, billing, collections, and dispute management services; record to report services comprising accounting, treasury, tax, product cost accounting, and closing and reporting services; financial planning and analysis consisting of budgeting, forecasting, and business performance reporting; and enterprise risk and compliance services, including operational risks and controls. In addition, the company provides supply chain advisory services, and after-sales services; sourcing and procurement services comprising direct and indirect strategic sourcing, category management, spend analytics, procurement operation, and master data management; and sales and commercial services, including campaign, order, and dispute management, lead generation, pricing, and promotion optimization. Further, it offers IT services, which comprise end-user computing support, infrastructure management; and transformation services that include digital solutions, consulting services, and analytics services and solutions. The company was founded in 1997 and is based in Hamilton, Bermuda.

CEO	Mr. Nallicheri Vaidyanathan Tyagarajan
WEBSITE	genpact.com
INDUSTRY	IT Services
EMPLOYEES	65535

Genpact Ltd Frequently Asked Questions

What is the ticker symbol for Genpact Ltd? What does G stand for in stocks?

G is the stock ticker symbol of Genpact Ltd. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Genpact Ltd (G)?

As of Thu Apr 18 2024, market cap of Genpact Ltd is 5.58 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of G stock?

You can check G's fair value in chart for subscribers.

What is the fair value of G stock?

You can check G's fair value in chart for subscribers. The fair value of Genpact Ltd is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Genpact Ltd is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for G so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Genpact Ltd a good stock to buy?

The fair value guage provides a quick view whether G is over valued or under valued. Whether Genpact Ltd is cheap or expensive depends on the assumptions which impact Genpact Ltd's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for G.

What is Genpact Ltd's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Thu Apr 18 2024, G's PE ratio (Price to Earnings) is 8.84 and Price to Sales (PS) ratio is 1.25. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. G PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on Genpact Ltd's stock?

In the past 10 years, Genpact Ltd has provided 0.066 (multiply by 100 for percentage) rate of return.