LIST OF ABBREVIATIONS

CAGR: Compound Annual Growth Rate

CapEx: Capital Expenditures

CAPX Signal: Change in Capital Expenditure relative to change in Industry Capital Expenditure

CPI: Consumer Price Index

D&A: Depreciation and Amortization

DCF: Discounted Cash Flow

EBITDA: Earnings before Interest, Taxes, Depreciation, and Amortization

EBITDAR: Earnings before Interest, Taxes, Depreciation, Amortization, and Rent Costs

EPS: Earnings per Share

EV: Enterprise Value

FCF: Free Cash Flow

G&A: General and Administrative

GAAP: Generally Accepted Accounting Principles

GDP: Gross Domestic Product

IPO: Initial Public Offering

IRR: Internal Rate of Return

NPV: Net Present Value

OCF: Operating Cash Flow

OI: Operating Income

PP&E: Property, Plant, and Equipment

R&D: Research and Development

ROIC: Return on Invested Capital

ROTS: Return on Time Spent

TSR: Total Shareholder Return

WACC: Weighted Average Cost of Capital

W/C: Working Capital