GATX - GATX Corp Stock Price, Fair Value and News

127.98USD+2.15 (+1.71%)Market Closed

Market Summary

USD127.98+2.15

Market Closed

1.71%

GATX Stock Price

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GATX RSI Chart

GATX Valuation

Market Cap

4.5B

Price/Earnings (Trailing)

17.53

Price/Sales (Trailing)

3.22

EV/EBITDA

4.54

Price/Free Cashflow

-3.97

GATX Price/Sales (Trailing)

GATX Profitability

EBT Margin

17.40%

Return on Equity

11.4%

Return on Assets

2.29%

Free Cashflow Yield

-25.19%

GATX Fundamentals

GATX Revenue

Revenue (TTM)

1.4B

Rev. Growth (Yr)

14.25%

Rev. Growth (Qtr)

2.39%

GATX Earnings

Earnings (TTM)

259.2M

Earnings Growth (Yr)

36.36%

Earnings Growth (Qtr)

25.71%

Breaking Down GATX Revenue

Last 7 days

0.0%

Last 30 days

-2.6%

Last 90 days

1.0%

Trailing 12 Months

13.3%

How does GATX drawdown profile look like?

GATX Financial Health

Debt/Equity

2.09

Debt/Cashflow

0.13

GATX Investor Care

Dividend Yield

1.68%

Dividend/Share (TTM)

2.17

Shares Dilution (1Y)

0.57%

Diluted EPS (TTM)

7.14

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	1.3B	1.3B	1.4B	1.4B
2022	1.3B	1.3B	1.3B	1.3B
2021	1.2B	1.2B	1.2B	1.3B
2020	1.2B	1.2B	1.2B	1.2B
2019	1.4B	1.3B	1.3B	1.2B
2018	1.4B	1.4B	1.4B	1.4B
2017	1.4B	1.4B	1.4B	1.4B
2016	1.5B	1.5B	1.4B	1.4B
2015	1.5B	1.5B	1.5B	1.4B
2014	1.3B	1.4B	1.4B	1.5B
2013	1.3B	1.3B	1.3B	1.3B
2012	1.2B	1.2B	1.2B	1.2B
2011	1.1B	1.1B	1.1B	1.2B
2010	1.1B	1.1B	1.2B	1.1B
2009	0	1.3B	1.2B	1.1B
2008	0	0	0	1.4B

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 GATX Corp

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Mar 08, 2024	hillesland kevin	acquired	153,417	69.735	2,200	svp, structured finance
Mar 08, 2024	hillesland kevin	sold	-294,437	133	-2,200	svp, structured finance
Mar 07, 2024	phillips geoffrey	sold	-303,166	131	-2,300	sr. vp, operations
Mar 07, 2024	phillips geoffrey	acquired	160,390	69.735	2,300	sr. vp, operations
Feb 14, 2024	adedoyin niyi	acquired	-	-	1,244	svp & cio
Feb 14, 2024	van aken jennifer	sold (taxes)	-26,793	125	-213	sr vp treasurer & cro
Feb 14, 2024	nero kimberley	sold (taxes)	-92,455	125	-735	evp & chief hr officer
Feb 14, 2024	mcmanus jennifer	acquired	-	-	910	sr. vp & controller
Feb 14, 2024	zmudka robert	sold (taxes)	-85,663	125	-681	sr. vp & chief comm. off.
Feb 14, 2024	nero kimberley	acquired	-	-	1,658	evp & chief hr officer

Which funds bought or sold GATX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 24, 2024	CENTRAL TRUST Co	unchanged	-	1,367	13,269	-%
Apr 24, 2024	BROWN ADVISORY INC	added	1.83	160,508	1,346,600	-%
Apr 24, 2024	DekaBank Deutsche Girozentrale	unchanged	-	20,000	199,000	-%
Apr 24, 2024	Spire Wealth Management	new	-	536	536	-%
Apr 23, 2024	REGIONS FINANCIAL CORP	reduced	-0.92	195,179	2,061,110	0.02%
Apr 23, 2024	NEW MEXICO EDUCATIONAL RETIREMENT BOARD	unchanged	-	99,000	965,000	0.04%
Apr 23, 2024	FIFTH THIRD BANCORP	added	2.56	583,262	4,650,300	0.02%
Apr 23, 2024	AMALGAMATED BANK	reduced	-8.9	39,000	2,494,000	0.02%
Apr 23, 2024	RICE HALL JAMES & ASSOCIATES, LLC	reduced	-17.36	-291,651	3,417,500	0.20%
Apr 23, 2024	WASHINGTON TRUST Co	reduced	-3.7	511	7,003	-%

Are Funds Buying or Selling GATX?

Are funds buying GATX calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own GATX

No. of Funds

Unveiling GATX Corp's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	11.04%	3,917,862	SC 13G/A
Feb 12, 2024	state farm mutual automobile insurance co	9.40%	3,336,000	SC 13G/A
Feb 12, 2024	earnest partners llc	8.4%	2,969,754	SC 13G/A
Feb 09, 2024	dimensional fund advisors lp	6.2%	2,202,403	SC 13G/A
Jan 23, 2024	blackrock inc.	13.1%	4,659,717	SC 13G/A
Jul 13, 2023	gamco investors, inc. et al	3.36%	1,187,250	SC 13D/A
Feb 14, 2023	earnest partners llc	7.5%	2,652,945	SC 13G/A
Feb 10, 2023	dimensional fund advisors lp	7.0%	2,453,371	SC 13G/A
Feb 09, 2023	vanguard group inc	10.96%	3,858,123	SC 13G/A
Feb 06, 2023	wellington management group llp	4.69%	1,649,233	SC 13G/A

Recent SEC filings of GATX Corp

View All Filings

Date Filed	Form Type	Document
Apr 23, 2024	8-K	Current Report
Mar 15, 2024	ARS	ARS
Mar 15, 2024	DEF 14A	DEF 14A
Mar 15, 2024	DEFA14A	DEFA14A
Mar 11, 2024	4	Insider Trading
Mar 08, 2024	144	Notice of Insider Sale Intent
Mar 08, 2024	4	Insider Trading
Mar 07, 2024	144	Notice of Insider Sale Intent
Mar 01, 2024	8-K	Current Report
Feb 28, 2024	424B5	Prospectus Filed

Peers (Alternatives to GATX Corp)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
ADP	101.2B	18.6B	0.54%	16.87%	28.45	5.45	7.76%	13.08%
CTAS	67.5B	9.4B	4.99%	51.27%	44.88	7.17	9.34%	15.98%
CPRT	53.1B	4.1B	-3.43%	43.35%	39.17	13.09	10.52%	25.37%
EFX	28.0B	5.4B	-13.11%	13.93%	50.15	5.23	5.76%	-4.95%
BAH	18.9B	10.3B	-1.11%	54.68%	46.13	1.83	13.90%	-5.05%
ALLE	10.9B	3.6B	-6.38%	16.13%	20.25	3.02	4.33%	10.65%
MID-CAP
RHI	7.4B	6.4B	-8.82%	-0.04%	18.07	1.16	-11.68%	-37.51%
AL	5.7B	2.7B	2.50%	33.81%	9.32	2.13	15.87%	733.47%
SRCL	4.6B	2.6B	-11.83%	10.13%	-237.52	1.75	-3.11%	-123.81%
ABM	2.8B	8.2B	1.37%	8.46%	10.9	0.34	3.98%	33.49%
SMALL-CAP
AZZ	1.9B	2.7B	-4.31%	99.08%	21.53	0.69	104.63%	175.67%
ALTG	375.6M	1.9B	-10.76%	-16.91%	42.2	0.2	19.40%	-4.30%
ARC	117.2M	281.2M	-0.36%	-8.97%	14.23	0.42	-1.68%	-25.77%
AQMS	56.0M	1.1M	-5.66%	-56.14%	-2.34	49.78	336.95%	-55.13%
AWX	8.6M	80.5M	-2.22%	-18.12%	-4.77	0.11	-0.82%	-207.00%

GATX Corp News

Latest updates

GATX Corp 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	2.4%	369	360	343	339	323	321	313	317	321	314	317	306	305	304	301	299	301	299	298	305	356
Operating Expenses	5.4%	271	257	249	246	233	234	231	235	248	234	243	236	231	226	232	233	234	224	227	241	121
S&GA Expenses	16.3%	59.00	51.00	52.00	50.00	52.00	48.00	48.00	47.00	58.00	46.00	48.00	47.00	46.00	42.00	43.00	40.00	50.00	43.00	43.00	46.00	45.00
EBITDA Margin	-0.3%	0.64*	0.64*	0.63*	0.58*	0.60*	0.60*	0.62*	0.66*	0.62*	0.59*	0.57*	0.55*	0.54*	0.54*	0.53*	0.56*	0.55*	0.50*	0.49*	-	-
Interest Expenses	6.6%	73.00	68.00	64.00	59.00	57.00	54.00	52.00	51.00	51.00	50.00	50.00	54.00	49.00	49.00	47.00	46.00	45.00	45.00	46.00	47.00	38.00
Income Taxes	-55.9%	6.00	15.00	18.00	20.00	16.00	14.00	3.00	22.00	17.00	14.00	14.00	8.00	8.00	12.00	5.00	13.00	10.00	10.00	13.00	8.00	-12.30
Earnings Before Taxes	-10.3%	48.00	54.00	67.00	77.00	46.00	35.00	-5.60	102	55.00	52.00	51.00	38.00	18.00	37.00	24.00	41.00	19.00	34.00	58.00	35.00	5.00
EBT Margin	-2.3%	0.17*	0.18*	0.17*	0.12*	0.14*	0.15*	0.16*	0.20*	0.16*	0.13*	0.12*	0.10*	0.10*	0.10*	0.10*	0.13*	0.12*	0.10*	0.11*	-	-
Net Income	25.7%	66.00	53.00	63.00	77.00	48.00	29.00	3.00	76.00	61.00	40.00	6.00	37.00	18.00	48.00	39.00	46.00	57.00	45.00	68.00	42.00	49.00
Net Income Margin	3.8%	0.18*	0.18*	0.16*	0.12*	0.12*	0.13*	0.14*	0.14*	0.11*	0.08*	0.09*	0.12*	0.13*	0.16*	0.16*	0.18*	0.18*	0.16*	0.16*	-	-
Free Cashflow	-100.0%	-	142	10.00	-58.90	27.00	-17.80	-37.60	-53.70	13.00	-12.50	-31.70	-433	-84.70	-147	-65.60	-126	-71.40	-93.20	-49.40	-83.00	-

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	6.4%	11,326	10,648	10,590	10,048	10,072	9,875	9,524	9,909	9,542	9,586	9,401	9,915	8,938	8,690	8,513	8,718	7,994	8,091	8,353	8,240	7,319
Cash Equivalents	121.9%	451	203	318	177	304	597	181	650	345	566	418	959	293	460	493	571	151	49.00	287	255	107
Net PPE	4.4%	9,411	9,015	8,871	8,492	8,250	7,858	7,891	7,875	7,785	7,674	7,583	7,523	7,171	6,844	6,628	6,750	6,457	6,608	6,606	6,526	6,533
Goodwill	3.4%	120	116	119	118	117	109	115	120	123	139	140	139	144	84.00	82.00	81.00	82.00	80.00	82.00	82.00	83.00
Liabilities	6.8%	9,053	8,473	8,411	7,947	8,042	7,935	7,543	7,848	7,523	7,609	7,429	7,955	6,980	6,760	6,637	6,887	6,450	6,304	6,518	6,431	5,829
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,552
Shareholder's Equity	4.5%	2,273	2,175	2,179	2,102	2,030	1,941	1,982	2,061	2,019	1,977	2,687	1,960	1,957	1,930	729	2,630	1,835	1,787	2,534	2,483	706
Retained Earnings	1.5%	3,010	2,964	2,932	2,889	2,832	2,802	2,792	2,808	2,752	2,709	2,687	2,700	2,682	2,682	2,652	2,630	2,601	2,562	2,534	2,483	2,419
Additional Paid-In Capital	0.4%	816	813	808	798	792	788	785	782	764	762	759	753	735	731	729	725	720	717	713	710	706
Accumulated Depreciation	3.1%	3,671	3,561	3,522	3,470	3,425	3,310	3,310	3,328	3,379	3,352	3,341	3,312	3,313	3,226	3,156	3,222	3,066	3,152	3,123	3,062	3,013
Shares Outstanding	0.0%	35.00	35.00	35.00	35.00	35.00	35.00	36.00	36.00	35.00	36.00	35.00	35.00	35.00	35.00	35.00	35.00	36.00	36.00	36.00	-	-
Float	-	-	-	4,500	-	-	-	3,300	-	3,100	-	3,100	-	2,100	-	-	-	-	-	2,800	-	-

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	-15.1%	120	142	163	95.00	181	136	116	100	167	141	122	76.00	135	103	145	54.00	148	98.00	116	64.00	144
Cashflow From Investing	-13.5%	-358	-316	-421	-122	-467	-130	-297	-179	-227	-179	-63.50	-446	-402	-214	-177	-110	-149	-134	-64.80	-98.60	-346
Cashflow From Financing	693.8%	484	61.00	397	-98.30	-8.40	414	-286	386	-160	188	-602	1,039	100	76.00	-298	478	104	-199	-19.90	183	50.00
Dividend Payments	0%	20.00	20.00	20.00	21.00	19.00	19.00	19.00	20.00	18.00	18.00	18.00	20.00	17.00	17.00	17.00	19.00	17.00	17.00	17.00	19.00	17.00
Buy Backs	-	3.00	-	-	-	-	8.00	30.00	9.00	13.00	0.00	-	-	-	-	-	-	21.00	47.00	44.00	38.00	78.00

GATX Income Statement

2023-12-31

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Lease revenue	$ 1,251.4	$ 1,154.6	$ 1,140.5
Non-dedicated engine revenue	37.6	1.5	0.0
MarineOperatingRevenue	6.9	18.9	19.1
Other revenue	115.0	98.0	97.8
Total Revenues	1,410.9	1,273.0	1,257.4
Expenses
Maintenance Expense	344.8	292.7	297.1
Marine operating expense	6.5	14.1	17.5
Depreciation	376.3	357.5	364.4
Operating Lease, Expense	36.0	36.1	39.2
Other operating expense	46.6	37.4	44.0
Selling, general and administrative	212.7	195.0	198.3
Total Expenses	1,022.9	932.8	960.5
Other Income (Expense)
Net gain on asset dispositions	130.3	77.9	105.9
Interest expense, net	(263.4)	(214.0)	(204.0)
Other expense	(9.4)	(27.0)	(3.7)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	245.5	177.1	195.1
Income Taxes	(58.7)	(54.8)	(53.2)
Share of Affiliates’ Earnings (net of tax)	72.4	33.6	1.2
Net Income	259.2	155.9	143.1
Other Comprehensive Income, net of taxes
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	45.8	(56.7)	(51.7)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	1.3	1.4	1.9
Post-retirement benefit plans	(3.1)	4.3	26.7
Other comprehensive income (loss)	44.0	(51.0)	(23.1)
Comprehensive Income	$ 303.2	$ 104.9	$ 120.0
Share Data
Earnings Per Share, Basic	$ 7.13	$ 4.41	$ 4.04
Average number of common shares (in shares)	35,700	35,400	35,400
Diluted earnings per share (in dollars per share)	$ 7.12	$ 4.35	$ 3.98
Average number of common shares and common share equivalents (in shares)	35,700	35,900	36,000

GATX Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and Cash Equivalents	$ 450.7	$ 303.7
Restricted Cash and Cash Equivalents	0.1	0.3
Short-Term Investments	0.0	148.5
Receivables
Rent and other receivables	87.9	71.4
Finance leases	136.4	96.5
Less: allowance for losses	(5.9)	(5.9)
Receivables, net	218.4	162.0
Operating Assets and Facilities
Property, Plant and Equipment, Gross	13,081.9	11,675.0
Less: allowance for depreciation	(3,670.7)	(3,424.7)
Net operating assets and facilities	9,411.2	8,250.3
Operating Lease, Right-of-Use Asset	212.0	243.5
Lease, Right-of-Use Asset	212.0	243.5
Investments in Affiliated Companies	627.0	575.1
Goodwill	120.0	117.2
Other Assets	286.6	271.4
Identifiable assets	11,326.0	10,072.0
Liabilities and Shareholders’ Equity
Accounts Payable and Accrued Expenses	239.6	202.2
Debt
Commercial paper and borrowings under bank credit facilities	11.0	17.3
Recourse	7,388.1	6,431.5
Debt, Long-term and Short-term, Combined Amount	7,399.1	6,448.8
Operating Lease, Liability	226.8	257.9
Lease, Liability	226.8	257.9
Deferred Income Taxes	1,081.1	1,031.5
Other Liabilities	106.4	102.0
Total Liabilities	9,053.0	8,042.4
Shareholders’ Equity
Common stock, $0.625 par value: Authorized shares — 120,000,000 Issued shares — 68,797,027 and 68,575,974 Outstanding shares — 35,464,841 and 35,268,308	42.5	42.4
Additional paid in capital	816.1	792.2
Retained earnings	3,009.5	2,831.5
Accumulated other comprehensive loss	(167.6)	(211.6)
Treasury stock at cost (33,332,186 and 33,307,666 shares)	(1,427.5)	(1,424.9)
Shareholders’ equity	2,273.0	2,029.6
Total Liabilities and Shareholders’ Equity	$ 11,326.0	$ 10,072.0

About GATX Corp

GATX Corporation, together its subsidiaries, operates as railcar leasing company in the United States, Canada, Mexico, Europe, and India. It operates through three segments: Rail North America, Rail International, and Portfolio Management. The company leases tank and freight railcars, and locomotives for petroleum, chemical, food/agriculture, and transportation industries. It also offers maintenance services, including the interior cleaning of railcars, routine maintenance and repair of car body and safety appliances, regulatory compliance works, wheelset replacements, interior blast and lining, exterior blast and painting, and car stenciling services. In addition, the company manufactures commercial aircraft jet engines and leases aircraft spare engines; and owns and manages tank containers that are leased to chemical, industrial gas, energy, food, cryogenic and pharmaceutical industries, and tank container operators, as well as provides tank container sourcing, remarketing, and inspection and maintenance services. As of December 31, 2022, it owned and operated a fleet of approximately 144,000 railcars; 501 four-axle and 43 six-axle locomotives; and 22,000 tank containers. GATX Corporation was founded in 1898 and is headquartered in Chicago, Illinois.

CEO	Mr. Robert C. Lyons
WEBSITE	gatx.com
INDUSTRY	Information Technology Services
EMPLOYEES	1904

GATX Corp Frequently Asked Questions

What is the ticker symbol for GATX Corp? What does GATX stand for in stocks?

GATX is the stock ticker symbol of GATX Corp. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of GATX Corp (GATX)?

As of Thu Apr 25 2024, market cap of GATX Corp is 4.54 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of GATX stock?

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

What is the fair value of GATX stock?

You can check GATX's fair value in chart for subscribers. The fair value of GATX Corp 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 GATX Corp 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 GATX 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 GATX Corp a good stock to buy?

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

What is GATX Corp's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Thu Apr 25 2024, GATX's PE ratio (Price to Earnings) is 17.53 and Price to Sales (PS) ratio is 3.22. 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. GATX PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on GATX Corp's stock?

In the past 10 years, GATX Corp has provided 0.094 (multiply by 100 for percentage) rate of return.