LIN - LIN TV Corp Stock Price, Fair Value and News

446.31USD-0.12 (-0.03%)Market Closed

Market Summary

USD446.31-0.12

Market Closed

-0.03%

LIN Alerts

3 major insider sales recently.

LIN Stock Price

View Fullscreen

LIN RSI Chart

LIN Valuation

Market Cap

214.9B

Price/Earnings (Trailing)

34.67

Price/Sales (Trailing)

6.54

EV/EBITDA

19.27

Price/Free Cashflow

38.95

LIN Price/Sales (Trailing)

LIN Profitability

EBT Margin

24.31%

Return on Equity

15.61%

Return on Assets

7.67%

Free Cashflow Yield

2.57%

LIN Fundamentals

LIN Revenue

Revenue (TTM)

32.9B

Rev. Growth (Yr)

5.1%

Rev. Growth (Qtr)

1.8%

LIN Earnings

Earnings (TTM)

6.2B

Earnings Growth (Yr)

16.19%

Earnings Growth (Qtr)

-1.41%

Breaking Down LIN Revenue

Last 7 days

-0.2%

Last 30 days

-4.4%

Last 90 days

9.6%

Trailing 12 Months

29.0%

How does LIN drawdown profile look like?

LIN Financial Health

Current Ratio

0.8

Debt/Equity

0.34

Debt/Cashflow

0.69

LIN Investor Care

Dividend Yield

1.14%

Dividend/Share (TTM)

5.1

Buy Backs (1Y)

2.15%

Diluted EPS (TTM)

12.6

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	33.3B	33.1B	32.5B	32.9B
2022	31.8B	32.6B	33.8B	33.4B
2021	27.7B	29.0B	29.8B	30.8B
2020	28.0B	27.2B	27.1B	27.2B
2019	18.8B	23.0B	26.9B	28.2B
2018	11.7B	11.9B	12.0B	14.8B
2017	10.8B	11.0B	11.2B	11.4B
2016	0	0	0	10.5B

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 S&P 500 Index

Grufity's Fair Value model takes all the S&P 500 stocks and divides them into separate buckets based on their attractiveness. The 'Very Cheap' bucket of S&P 500 has greatly outperformed S&P 500 Index. Conversely, S&P500 stocks considered 'Very Expensive' by the model underperformed the S&P500 index in the past three years. Grufity Fair Value is available for 2300+ stocks, including 90% of S&P 500 stocks. Grufity's Fair Value Model separates high-return stocks from low-return stocks.

Returns of $10,000 invested in:

Very Cheap Stocks: $17,289
S&P 500 Index: $12,922
Very Expensive Stocks: $11,022

Grufity's Fair Value model does a great job in separating High Performing Stocks from Low Performing ones in the S&P 500 list.

S&P 500 Index

Very Expensive Stocks

Very Cheap Stocks

Try For Just $1.99

Tracking the Latest Insider Buys and Sells of LIN TV Corp

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
Mar 14, 2024	angel stephen f	acquired	-	-	3.298	-
Mar 14, 2024	angel stephen f	sold (taxes)	-564	462	-1.221	-
Mar 12, 2024	bichara guillermo	sold	-2,842,110	471	-6,034	exec vp & chief legal officer
Mar 12, 2024	durbin sean	sold	-2,466,420	467	-5,277	executive vp, north america
Mar 11, 2024	hoyt kelcey e	sold (taxes)	-389,079	462	-841	principal accounting officer
Mar 11, 2024	panikar john	sold (taxes)	-1,858,360	462	-4,017	executive vp, apac
Mar 11, 2024	enders thomas	acquired	-	-	598	-
Mar 11, 2024	bichara guillermo	acquired	-	-	11,245	exec vp & chief legal officer
Mar 11, 2024	kaeser josef	acquired	-	-	598	-
Mar 11, 2024	durbin sean	sold (taxes)	-2,281,030	462	-4,931	executive vp, north america

Which funds bought or sold LIN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Apr 18, 2024	FARMERS & MERCHANTS TRUST Co OF LONG BEACH	added	1.79	37,970	289,735	0.07%
Apr 18, 2024	Ayrshire Capital Management LLC	added	11.97	1,117,520	5,318,970	2.88%
Apr 18, 2024	STATE OF MICHIGAN RETIREMENT SYSTEM	added	0.07	7,519,880	64,774,500	0.35%
Apr 18, 2024	Capital Advisors, Ltd. LLC	added	2.68	27,000	195,000	0.03%
Apr 18, 2024	Aviance Capital Partners, LLC	added	3.89	1,288,720	8,671,640	1.29%
Apr 18, 2024	MorganRosel Wealth Management, LLC	added	3.52	127,234	874,315	0.31%
Apr 18, 2024	Measured Wealth Private Client Group, LLC	unchanged	-	62,242	539,076	0.19%
Apr 18, 2024	FARMERS & MERCHANTS INVESTMENTS INC	reduced	-1.19	1,683,520	16,060,800	0.54%
Apr 18, 2024	Oak Thistle LLC	new	-	233,553	233,553	0.21%
Apr 18, 2024	WOLFF WIESE MAGANA LLC	unchanged	-	590	5,108	-%

Are Funds Buying or Selling LIN?

Are funds buying LIN calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own LIN

No. of Funds

LIN Alerts

3 major insider sales recently.

Unveiling LIN TV Corp's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 13, 2024	vanguard group inc	9.13%	44,269,863	SC 13G/A
Feb 13, 2024	blackrock inc.	7.2%	35,119,116	SC 13G/A
Feb 09, 2023	vanguard group inc	9.47%	46,650,053	SC 13G/A
Feb 03, 2023	blackrock inc.	7.9%	38,789,331	SC 13G/A
Feb 10, 2021	vanguard group inc	8.16%	42,775,562	SC 13G/A
Jan 29, 2021	blackrock inc.	7.6%	39,522,967	SC 13G/A
Feb 12, 2020	vanguard group inc	8.22%	44,202,926	SC 13G/A
Feb 05, 2020	blackrock inc.	7.5%	40,553,205	SC 13G/A

Recent SEC filings of LIN TV Corp

View All Filings

Date Filed	Form Type	Document
Mar 18, 2024	4	Insider Trading
Mar 14, 2024	4	Insider Trading
Mar 14, 2024	4	Insider Trading
Mar 14, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading
Mar 13, 2024	4	Insider Trading

Peers (Alternatives to LIN TV Corp)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
APD	51.5B	12.4B	-3.07%	-20.80%	22.05	4.15	-3.54%	3.06%
DOW	40.0B	44.6B	-2.60%	1.72%	60.58	0.9	-21.58%	-85.78%
CE	16.8B	10.9B	-6.75%	44.46%	8.57	1.54	13.10%	3.48%
AVTR	16.3B	7.0B	-6.52%	21.29%	50.91	2.35	-7.26%	-53.23%
ALB	13.2B	9.6B	-9.90%	-41.92%	8.37	1.37	31.38%	-41.50%
EMN	11.3B	9.2B	2.94%	17.89%	12.66	1.23	-12.95%	12.74%
MID-CAP
CBT	5.1B	3.9B	1.88%	23.50%	11.48	1.3	-9.12%	26.64%
BCPC	4.6B	922.4M	-8.54%	12.55%	42.66	5.02	-2.11%	3.01%
AVNT	3.9B	3.1B	2.61%	7.78%	50.99	1.23	-7.48%	-89.19%
ARCH	3.0B	3.1B	-0.32%	25.52%	6.49	0.95	-15.54%	-65.21%
SMALL-CAP
CCF	1.2B	404.0M	0.11%	32.60%	36.59	3	24.06%	-25.72%
ASIX	723.6M	1.5B	0.07%	-31.70%	13.25	0.47	-21.18%	-60.55%
CMT	178.5M	357.7M	1.18%	3.08%	8.78	0.5	-5.20%	66.55%
AREC	106.4M	16.7M	-13.38%	6.25%	9.61	6.36	-57.58%	866.09%
AMRS	3.7M	-	-80.00%	-99.58%	-0.01	0.01	-	-

LIN TV Corp News

Latest updates

LIN TV 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	1.8%	8,302	8,155	8,204	8,193	7,899	8,797	8,457	8,211	8,298	7,668	7,584	7,243	7,272	6,855	6,377	6,739	7,080	7,000	7,204	6,944	5,801
S&GA Expenses	3.0%	832	808	833	822	764	770	771	802	787	793	822	787	802	770	760	861	844	850	884	879	718
R&D Expenses	8.3%	39.00	36.00	35.00	36.00	36.00	35.00	37.00	35.00	38.00	36.00	34.00	35.00	38.00	36.00	34.00	44.00	49.00	44.00	45.00	46.00	42.00
EBITDA Margin	0.8%	0.35*	0.35*	0.33*	0.30*	0.29*	0.28*	0.29*	0.31*	0.31*	0.32*	0.31*	0.30*	0.29*	0.29*	0.29*	0.28*	0.28*	-	-	-	-
Interest Expenses	-77.5%	-71.00	-40.00	-52.00	-37.00	-31.00	-18.00	-5.00	-9.00	-31.00	-8.00	-18.00	-20.00	-35.00	-38.00	-18.00	-24.00	305	3.00	-	-	-
Income Taxes	-5.7%	459	487	438	430	388	391	286	369	339	321	334	268	253	265	164	165	162	298	169	140	355
Earnings Before Taxes	-2.5%	1,996	2,047	2,004	1,941	1,714	1,648	646	1,535	1,355	1,329	1,173	1,242	1,040	972	618	754	672	1,001	683	571	3,178
EBT Margin	2.4%	0.24*	0.24*	0.22*	0.18*	0.17*	0.15*	0.15*	0.17*	0.17*	0.16*	0.15*	0.14*	0.12*	0.11*	0.11*	0.11*	0.10*	-	-	-	-
Net Income	-1.4%	1,543	1,565	1,575	1,516	1,328	1,273	372	1,174	1,026	979	841	980	770	700	458	573	511	735	522	517	2,978
Net Income Margin	2.3%	0.19*	0.18*	0.17*	0.13*	0.12*	0.11*	0.11*	0.13*	0.12*	0.12*	0.11*	0.10*	0.09*	0.08*	0.08*	0.08*	0.08*	-	-	-	-
Free Cashflow	0.3%	1,576	1,572	1,291	1,079	1,159	1,874	1,307	1,351	2,394	1,815	1,083	1,347	1,407	1,097	981	544	1,159	-	-	-	-

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	3.8%	80,811	77,827	78,718	80,308	79,658	74,323	77,885	82,767	81,605	84,191	84,345	84,993	86,101	87,209	85,856	84,369	86,612	84,394	87,189	91,641	93,386
Current Assets	7.5%	12,620	11,737	11,411	12,904	13,047	11,203	11,272	12,257	10,159	12,007	10,446	11,132	10,924	12,265	12,073	11,513	10,352	9,812	10,681	15,088	17,272
Cash Equivalents	19.8%	4,664	3,894	3,357	4,962	5,436	3,756	3,655	4,464	2,823	4,700	3,137	4,096	3,754	5,199	4,941	4,014	2,700	2,120	2,686	5,791	4,466
Inventory	1.8%	2,115	2,078	2,079	2,054	1,978	1,855	1,786	1,766	1,733	1,694	1,692	1,695	1,729	1,733	1,715	1,689	1,697	1,653	1,708	1,667	1,651
Net PPE	-	-	-	-	-	-	-	-	-	-	26,180	26,917	26,934	28,711	27,945	27,693	27,418	29,064	28,460	29,540	29,418	29,717
Goodwill	3.1%	26,751	25,955	26,456	26,418	25,817	24,565	25,678	26,822	27,038	27,178	27,621	27,472	28,201	27,239	26,580	26,073	27,019	26,261	26,947	26,820	26,874
Liabilities	5.7%	39,716	37,589	37,470	38,972	38,271	35,384	36,845	38,377	36,164	38,454	37,117	37,360	37,989	38,617	37,919	37,126	34,977	33,086	34,295	34,994	36,290
Current Liabilities	11.0%	15,717	14,162	14,552	17,785	16,479	15,061	15,295	14,506	13,643	14,758	14,676	15,027	13,740	14,792	15,095	15,490	12,160	10,883	10,521	11,140	12,956
Short Term Borrowings	22.4%	4,713	3,849	3,018	5,337	4,117	3,179	3,215	2,549	1,163	2,895	3,681	3,276	3,251	4,024	3,679	4,848	1,732	1,209	1,475	-	1,485
Long Term Debt	1.2%	13,397	13,232	13,528	11,744	12,198	10,608	11,177	12,833	11,335	11,539	9,984	9,950	12,152	11,959	11,078	10,021	10,693	10,567	12,255	12,190	12,288
Shareholder's Equity	2.1%	39,720	38,898	41,235	41,323	40,028	38,926	41,027	44,377	45,428	45,724	47,215	47,620	49,569	48,579	47,924	47,151	51,522	51,294	52,879	56,632	57,080
Retained Earnings	11.4%	8,845	7,940	7,024	6,092	20,541	19,845	19,159	19,387	18,710	18,240	17,820	17,563	17,178	16,927	16,782	16,850	16,842	16,810	16,555	16,569	16,529
Additional Paid-In Capital	0.0%	39,812	39,803	39,797	39,859	40,005	40,011	39,978	39,972	40,180	40,220	40,200	40,192	40,202	40,203	40,211	40,185	40,201	40,185	40,157	40,173	40,151
Shares Outstanding	-0.3%	488	490	490	492	500	497	501	507	517	515	521	522	527	526	526	531	541	-	-	-	-
Minority Interest	2.6%	1,362	1,327	1,324	1,353	1,346	1,298	1,353	1,414	1,393	1,401	1,438	1,410	2,252	2,404	2,387	2,375	2,448	2,341	2,315	5,457	5,484
Float	-	-	-	186,000	-	-	-	143,000	-	-	-	149,000	-	-	-	111,000	-	-	-	108,000	-	-

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	8.2%	2,727	2,520	2,150	1,908	2,095	2,636	2,133	2,000	3,233	2,556	1,827	2,109	2,434	1,884	1,764	1,347	2,174	1,872	1,005	1,068	1,305
Share Based Compensation	8.3%	39.00	36.00	36.00	30.00	29.00	27.00	17.00	34.00	33.00	32.00	34.00	29.00	29.00	29.00	32.00	43.00	31.00	26.00	22.00	16.00	22.00
Cashflow From Investing	-29.6%	-1,226	-946	-864	-1,634	-881	-700	-842	-665	-876	-671	-709	-751	-1,007	-732	-634	-613	-943	-709	381	2,460	6,348
Cashflow From Financing	19.1%	-780	-964	-2,892	-764	390	-1,720	-2,003	244	-4,217	-256	-2,145	-970	-2,967	-933	-204	759	-700	-1,652	-4,434	-2,211	-3,696
Dividend Payments	-0.6%	616	620	623	623	586	581	585	592	541	546	549	553	505	506	506	511	469	471	474	477	454
Buy Backs	-10.8%	1,033	1,158	908	859	690	1,149	1,610	1,719	1,361	1,169	1,214	868	427	202	-	1,828	724	684	525	725	597

LIN Income Statement

2023-12-31

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Sales	$ 32,854	$ 33,364	$ 30,793
Cost of sales, exclusive of depreciation and amortization	17,492	19,450	17,543
Selling, general and administrative	3,295	3,107	3,189
Depreciation and amortization	3,816	4,204	4,635
Research and development	146	143	143
Other charges	40	1,029	273
Other income (expenses) – net	(41)	(62)	(26)
Operating Profit	8,024	5,369	4,984
Interest expense – net	200	63	77
Net pension and OPEB cost (benefit), excluding service cost	(164)	(237)	(192)
Income Before Income Taxes and Equity Investments	7,988	5,543	5,099
Income taxes	1,814	1,434	1,262
Income From Continuing Operations Before Equity Investments	6,174	4,109	3,837
Income from equity investments	167	172	119
Income From Continuing Operations (Including Noncontrolling Interests)	6,341	4,281	3,956
Income from discontinued operations, net of tax	0	0	5
Net Income (Including Noncontrolling Interests)	6,341	4,281	3,961
Less: noncontrolling interests from continuing operations	(142)	(134)	(135)
Net Income – Linde plc	6,199	4,147	3,826
Net Income – Linde plc
Income from continuing operations	6,199	4,147	3,821
Income from discontinued operations	$ 0	$ 0	$ 5
Per Share Data – Linde plc Shareholders
Basic earnings per share from continuing operations (in dollars per share)	$ 12.70	$ 8.30	$ 7.39
Basic earnings per share from discontinued operations (in dollars per share)	0	0	0.01
Basic earnings per share (in dollars per share)	12.70	8.30	7.40
Diluted earnings per share from continuing operations (in dollars per share)	12.59	8.23	7.32
Diluted earnings per share from discontinued operations (in dollars per share)	0	0	0.01
Diluted earnings per share (in dollars per share)	$ 12.59	$ 8.23	$ 7.33
Weighted Average Shares Outstanding (000’s):
Basic shares outstanding (in shares)	488,191	499,736	516,896
Diluted shares outstanding (in shares)	492,290	504,038	521,875

LIN Balance Sheet

2023-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 4,664	$ 5,436
Accounts receivable – net	4,718	4,559
Contract assets	196	124
Inventories	2,115	1,978
Prepaid and other current assets	927	950
Total Current Assets	12,620	13,047
Property, plant and equipment – net	24,552	23,548
Equity investments	2,190	2,350
Goodwill	26,751	25,817
Other intangible assets – net	12,399	12,420
Other long-term assets	2,299	2,476
Total Assets	80,811	79,658
Liabilities and Equity
Accounts payable	3,020	2,995
Short-term debt	4,713	4,117
Current portion of long-term debt	1,263	1,599
Contract liabilities	1,901	3,073
Accrued taxes	664	613
Other current liabilities	4,156	4,082
Total Current Liabilities	15,717	16,479
Long-term debt	13,397	12,198
Other long-term liabilities	3,804	2,795
Deferred credits	6,798	6,799
Total Liabilities	39,716	38,271
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	13	13
Linde plc Shareholders’ Equity:
Ordinary shares (€0.001 par value, authorized 1,750,000,000 shares, 2023 issued: 490,766,972 ordinary shares; 2022 issued: 552,012,862 ordinary shares)	1	1
Additional paid-in capital	39,812	40,005
Retained earnings	8,845	20,541
Accumulated other comprehensive income (loss)	(5,805)	(5,782)
Less: Treasury shares, at cost (2023 – 8,321,827 shares and 2022 – 59,555,235 shares)	(3,133)	(14,737)
Total Linde plc Shareholders’ Equity	39,720	40,028
Noncontrolling interests	1,362	1,346
Total Equity	41,082	41,374
Total Liabilities and Equity	$ 80,811	$ 79,658

About LIN TV Corp

Linde plc operates as an industrial gas company in North and South America, Europe, the Middle East, Africa, and the Asia Pacific. It offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene. The company also designs and constructs turnkey process plants for third-party customers, as well as for the gas businesses in various locations, such as air separation, hydrogen, synthesis, olefin, and natural gas plants. It serves a range of industries, including healthcare, chemicals and energy, manufacturing, metals and mining, food and beverage, and electronics. The company was founded in 1879 and is based in Woking, the United Kingdom.

CEO	Mr. Sanjiv Lamba
WEBSITE	linde.com
INDUSTRY	Chemicals
EMPLOYEES	65535

LIN TV Corp Frequently Asked Questions

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

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

What is the market capital of LIN TV Corp (LIN)?

As of Fri Apr 19 2024, market cap of LIN TV Corp is 214.93 Billion. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of LIN stock?

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

What is the fair value of LIN stock?

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

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

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

As of Fri Apr 19 2024, LIN's PE ratio (Price to Earnings) is 34.67 and Price to Sales (PS) ratio is 6.54. 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. LIN PE ratio will change depending on the future growth rate expectations of investors.

What is 5 year return on LIN TV Corp's stock?

In the past 10 years, LIN TV Corp has provided 0.148 (multiply by 100 for percentage) rate of return.