BOISE CASCADE Co
BCC NYSE Wholesale-Lumber & Other Construction Materials Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$6.4B
4.8%
vs prior year
Operating margin
Operating income as a share of revenue.
2.9%
4.4 pts
Net income
Profit after all expenses, interest and tax.
$133M
64.7%
Free cash flow
Cash from operations minus capital spending.
$12.7M
93.9%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.6%
12.9 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $2.96 EPS (TTM)
What BOISE CASCADE Co does
No business description yet.
- Legal name
- BOISE CASCADE Co
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0001328581-26-000006
0001328581
Revenue and margins
BOISE CASCADE Co had $6.4B of revenue in fiscal 2025, down 4.8% on the year before.
FY16
Revenue $3.9B
FY17
Revenue $4.4B
FY18
Revenue $5.0B
FY19
Revenue $4.6B
FY20
Revenue $5.5B
FY21
Revenue $7.9B
FY22
Revenue $8.4B
FY23
Revenue $6.8B
FY24
Revenue $6.7B
FY25
Revenue $6.4B
Q3 '23
Revenue $1.8B
Q4 '23
Revenue $1.6B
Q1 '24
Revenue $1.6B
Q2 '24
Revenue $1.8B
Q3 '24
Revenue $1.7B
Q4 '24
Revenue $1.6B
Q1 '25
Revenue $1.5B
Q2 '25
Revenue $1.7B
Q3 '25
Revenue $1.7B
Q4 '25
Revenue $1.5B
Q1 '26
Revenue $1.5B
Q2 '26
Revenue $1.8B
FY16
Gross —
Operating 2.2%
Net 1.0%
FCF 1.7%
FY17
Gross —
Operating 3.2%
Net 1.9%
FCF 1.7%
FY18
Gross —
Operating 1.4%
Net 0.4%
FCF 1.7%
FY19
Gross —
Operating 2.9%
Net 1.7%
FCF 3.5%
FY20
Gross —
Operating 6.1%
Net 3.2%
FCF 3.9%
FY21
Gross —
Operating 12.3%
Net 9.0%
FCF 7.1%
FY22
Gross —
Operating 13.8%
Net 10.2%
FCF 11.1%
FY23
Gross —
Operating 9.1%
Net 7.1%
FCF 6.9%
FY24
Gross —
Operating 7.3%
Net 5.6%
FCF 3.1%
FY25
Gross —
Operating 2.9%
Net 2.1%
FCF 0.2%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 10.1%
Net 7.8%
FCF 10.9%
Q4 '23
Gross —
Operating 7.4%
Net 5.9%
FCF 3.0%
Q1 '24
Gross —
Operating 8.1%
Net 6.3%
FCF −0.4%
Q2 '24
Gross —
Operating 8.2%
Net 6.2%
FCF 5.7%
Q3 '24
Gross —
Operating 6.8%
Net 5.3%
FCF 6.6%
Q4 '24
Gross —
Operating 5.9%
Net 4.4%
FCF 0.0%
Q1 '25
Gross —
Operating 3.5%
Net 2.6%
FCF −5.3%
Q2 '25
Gross —
Operating 4.6%
Net 3.6%
FCF −2.6%
Q3 '25
Gross —
Operating 1.9%
Net 1.3%
FCF 3.8%
Q4 '25
Gross —
Operating 1.1%
Net 0.6%
FCF 5.3%
Q1 '26
Gross —
Operating 1.9%
Net 1.2%
FCF −3.7%
Q2 '26
Gross —
Operating 4.6%
Net 3.1%
FCF 1.0%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 15.3% a year. Loss periods are shown in red.
FY16
Net income $38.3M
FY17
Net income $83.0M
FY18
Net income $20.5M
FY19
Net income $80.9M
FY20
Net income $175M
FY21
Net income $712M
FY22
Net income $858M
FY23
Net income $484M
FY24
Net income $376M
FY25
Net income $133M
Q3 '23
Net income $143M
Q4 '23
Net income $97.5M
Q1 '24
Net income $104M
Q2 '24
Net income $112M
Q3 '24
Net income $91.0M
Q4 '24
Net income $68.9M
Q1 '25
Net income $40.3M
Q2 '25
Net income $62.0M
Q3 '25
Net income $21.8M
Q4 '25
Net income $8.7M
Q1 '26
Net income $17.8M
Q2 '26
Net income $57.3M
FY16
Diluted EPS $0.98
FY17
Diluted EPS $2.12
FY18
Diluted EPS $0.52
FY19
Diluted EPS $2.06
FY20
Diluted EPS $4.44
FY21
Diluted EPS $17.97
FY22
Diluted EPS $21.56
FY23
Diluted EPS $12.12
FY24
Diluted EPS $9.57
FY25
Diluted EPS $3.53
Q3 '23
Diluted EPS $3.58
Q4 '23
Diluted EPS $2.44
Q1 '24
Diluted EPS $2.61
Q2 '24
Diluted EPS $2.84
Q3 '24
Diluted EPS $2.33
Q4 '24
Diluted EPS $1.79
Q1 '25
Diluted EPS $1.06
Q2 '25
Diluted EPS $1.64
Q3 '25
Diluted EPS $0.58
Q4 '25
Diluted EPS $0.25
Q1 '26
Diluted EPS $0.50
Q2 '26
Diluted EPS $1.63
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 8.2%
Return on equity 6.6%
Return on assets 2.7%
FY17
Return on capital 10.7%
Return on equity 13.2%
Return on assets 5.4%
FY18
Return on capital 7.3%
Return on equity 3.0%
Return on assets 1.3%
FY19
Return on capital 11.9%
Return on equity 11.8%
Return on assets 4.9%
FY20
Return on capital 24.5%
Return on equity 22.5%
Return on assets 9.6%
FY21
Return on capital 69.6%
Return on equity 64.7%
Return on assets 31.4%
FY22
Return on capital 57.6%
Return on equity 50.3%
Return on assets 29.5%
FY23
Return on capital 27.7%
Return on equity 22.7%
Return on assets 14.4%
FY24
Return on capital 19.5%
Return on equity 17.3%
Return on assets 11.0%
FY25
Return on capital 6.6%
Return on equity 6.3%
Return on assets 4.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $12.7M in fiscal 2025, 0.2% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $68.3M
FY17
Free cash flow $76.1M
FY18
Free cash flow $83.6M
FY19
Free cash flow $163M
FY20
Free cash flow $215M
FY21
Free cash flow $560M
FY22
Free cash flow $927M
FY23
Free cash flow $472M
FY24
Free cash flow $209M
FY25
Free cash flow $12.7M
Q3 '23
Free cash flow $200M
Q4 '23
Free cash flow $50.1M
Q1 '24
Free cash flow −$6.9M
Q2 '24
Free cash flow $102M
Q3 '24
Free cash flow $113M
Q4 '24
Free cash flow $0.8M
Q1 '25
Free cash flow −$81.7M
Q2 '25
Free cash flow −$45.9M
Q3 '25
Free cash flow $63.2M
Q4 '25
Free cash flow $77.0M
Q1 '26
Free cash flow −$55.8M
Q2 '26
Free cash flow $18.8M
FY16
Cash from operations $152M
Capital spending $83.6M
FY17
Cash from operations $152M
Capital spending $75.5M
FY18
Cash from operations $164M
Capital spending $80.0M
FY19
Cash from operations $246M
Capital spending $82.7M
FY20
Cash from operations $295M
Capital spending $79.4M
FY21
Cash from operations $667M
Capital spending $107M
FY22
Cash from operations $1.0B
Capital spending $114M
FY23
Cash from operations $687M
Capital spending $215M
FY24
Cash from operations $438M
Capital spending $230M
FY25
Cash from operations $254M
Capital spending $241M
Cash from operations
Capital spending
Q3 '23
Cash from operations $231M
Capital spending $31.0M
Q4 '23
Cash from operations $166M
Capital spending $116M
Q1 '24
Cash from operations $27.5M
Capital spending $34.3M
Q2 '24
Cash from operations $142M
Capital spending $39.8M
Q3 '24
Cash from operations $175M
Capital spending $61.7M
Q4 '24
Cash from operations $94.6M
Capital spending $93.8M
Q1 '25
Cash from operations −$28.5M
Capital spending $53.2M
Q2 '25
Cash from operations $33.2M
Capital spending $79.1M
Q3 '25
Cash from operations $118M
Capital spending $55.2M
Q4 '25
Cash from operations $131M
Capital spending $54.0M
Q1 '26
Cash from operations −$16.0M
Capital spending $39.8M
Q2 '26
Cash from operations $42.3M
Capital spending $23.5M
Cash from operations
Capital spending
Dividends, buybacks and share count
BOISE CASCADE Co returned $218M to shareholders in fiscal 2025, 1,712% of free cash flow. The diluted share count fell 4.3%.
FY16
Dividends $0.0M
Buybacks $10.3M
FY17
Dividends $2.7M
Buybacks $0.0M
FY18
Dividends $50.6M
Buybacks $4.9M
FY19
Dividends $54.0M
Buybacks $0.0M
FY20
Dividends $79.2M
Buybacks $0.0M
FY21
Dividends $214M
Buybacks $0.0M
FY22
Dividends $160M
Buybacks $0.0M
FY23
Dividends $346M
Buybacks $6.4M
FY24
Dividends $229M
Buybacks $195M
FY25
Dividends $34.6M
Buybacks $183M
Dividends
Buybacks
Q3 '23
Dividends $7.9M
Buybacks $0.0M
Q4 '23
Dividends $206M
Buybacks $4.9M
Q1 '24
Dividends $11.2M
Buybacks $27.0M
Q2 '24
Dividends $7.9M
Buybacks $61.9M
Q3 '24
Dividends $201M
Buybacks $69.7M
Q4 '24
Dividends $8.3M
Buybacks $36.4M
Q1 '25
Dividends $10.5M
Buybacks $53.9M
Q2 '25
Dividends $7.9M
Buybacks $33.9M
Q3 '25
Dividends $8.2M
Buybacks $25.0M
Q4 '25
Dividends $8.0M
Buybacks $70.4M
Q1 '26
Dividends $10.4M
Buybacks $65.5M
Q2 '26
Dividends $7.7M
Buybacks $44.5M
Dividends
Buybacks
FY16
Diluted shares 0.04B
FY17
Diluted shares 0.04B
FY18
Diluted shares 0.04B
FY19
Diluted shares 0.04B
FY20
Diluted shares 0.04B
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.04B
FY23
Diluted shares 0.04B
FY24
Diluted shares 0.04B
FY25
Diluted shares 0.04B
Balance sheet
Cash, debt and the ratios that show how comfortably BOISE CASCADE Co can carry it.
FY16
Cash $104M
Debt $438M
FY17
Cash $177M
Debt $438M
FY18
Cash $192M
Debt $439M
FY19
Cash $285M
Debt $465M
FY20
Cash $405M
Debt $477M
FY21
Cash $749M
Debt $478M
FY22
Cash $998M
Debt $476M
FY23
Cash $950M
Debt $475M
FY24
Cash $713M
Debt $475M
FY25
Cash $477M
Debt $462M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $749M | $998M | $950M | $713M | $477M |
| Debt incl. finance leases | $478M | $476M | $475M | $475M | $462M |
| Net debt / EBITDA | −0.3x | −0.4x | −0.6x | −0.4x | −0.0x |
| Debt / equity | 0.3x | 0.2x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 39.2x | 45.6x | 24.5x | 20.4x | 8.4x |
| Current ratio | 2.9x | 3.8x | 3.5x | 3.3x | 3.4x |
| Quick ratio | 1.9x | 2.5x | 2.3x | 1.9x | 1.7x |
| Total assets | $2.6B | $3.2B | $3.5B | $3.4B | $3.2B |
| Total liabilities | $1.2B | $1.2B | $1.3B | $1.2B | $1.2B |
| Shareholders' equity | $1.4B | $2.1B | $2.2B | $2.2B | $2.1B |
| Net debt (− = net cash) | −$271M | −$522M | −$474M | −$238M | −$15.1M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✕ | ✓ | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Current ratio rose | — | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ |
| Gross margin rose | — | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ | ✕ |
| F-score | — / 3 | 7 / 8 | 5 / 8 | 6 / 8 | 6 / 8 | 6 / 8 | 5 / 8 | 4 / 8 | 5 / 8 | 5 / 8 |
| Accruals ratio | −7.9% | −4.5% | −9.0% | −10.1% | −6.5% | 2.0% | −6.3% | −6.1% | −1.8% | −3.7% |
| Altman Z'' | 3.78 | 4.33 | 4.32 | 4.44 | 5.32 | 8.08 | 8.96 | 7.49 | 7.27 | 6.11 |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $3.9B | $4.4B | $5.0B | $4.6B | $5.5B | $7.9B | $8.4B | $6.8B | $6.7B | $6.4B |
| Operating income | $84.7M | $141M | $72.0M | $136M | $335M | $972M | $1.2B | $624M | $490M | $183M |
| Interest expense | $26.7M | $25.4M | $26.2M | $26.1M | $26.2M | $24.8M | $25.4M | $25.5M | $24.1M | $21.8M |
| Pretax income | $43.3M | $118M | $22.1M | $108M | $286M | $949M | $1.1B | $645M | $502M | $180M |
| Income tax | $5.0M | $34.6M | $1.6M | $27.3M | $111M | $236M | $289M | $161M | $125M | $47.1M |
| Net income | $38.3M | $83.0M | $20.5M | $80.9M | $175M | $712M | $858M | $484M | $376M | $133M |
| Net income to common | $38.3M | $83.0M | $20.5M | $80.9M | $175M | $712M | $858M | $484M | — | — |
| Diluted EPS | $0.98 | $2.12 | $0.52 | $2.06 | $4.44 | $17.97 | $21.56 | $12.12 | $9.57 | $3.53 |
| Diluted shares | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B | 0.04B |
| Cash flow | ||||||||||
| Cash from operations | $152M | $152M | $164M | $246M | $295M | $667M | $1.0B | $687M | $438M | $254M |
| Capital expenditure | $83.6M | $75.5M | $80.0M | $82.7M | $79.4M | $107M | $114M | $215M | $230M | $241M |
| Free cash flow | $68.3M | $76.1M | $83.6M | $163M | $215M | $560M | $927M | $472M | $209M | $12.7M |
| Depreciation and amortization | $72.8M | $80.4M | $147M | $80.1M | $95.2M | $80.8M | $102M | $132M | $144M | $158M |
| Stock-based compensation | $8.2M | $9.7M | $8.8M | $8.0M | $7.8M | $7.9M | $11.9M | $15.4M | $15.5M | $12.1M |
| Acquisitions | $216M | $0.0M | $25.5M | $15.7M | $0.0M | $0.0M | $515M | $163M | $10.2M | $33.4M |
| Share buybacks | $10.3M | $0.0M | $4.9M | $0.0M | $0.0M | $0.0M | $0.0M | $6.4M | $195M | $183M |
| Dividends paid | $0.0M | $2.7M | $50.6M | $54.0M | $79.2M | $214M | $160M | $346M | $229M | $34.6M |
| Dividends and buybacks | $10.3M | $2.7M | $55.5M | $54.0M | $79.2M | $214M | $160M | $353M | $424M | $218M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $104M | $177M | $192M | $285M | $405M | $749M | $998M | $950M | $713M | $477M |
| Total debt | $438M | $438M | $439M | $441M | $444M | $445M | $444M | $445M | $446M | $445M |
| Finance lease liabilities | — | — | — | $24.5M | $33.2M | $33.6M | $31.9M | $30.0M | $28.6M | $16.7M |
| Current assets | $760M | $933M | $986M | $1.0B | $1.3B | $1.9B | $2.1B | $2.1B | $1.9B | $1.7B |
| Current liabilities | $313M | $382M | $370M | $385M | $524M | $641M | $546M | $594M | $564M | $493M |
| Inventory | $433M | $477M | $533M | $498M | $503M | $661M | $698M | $712M | $803M | $796M |
| Property and equipment, net | $569M | $566M | $487M | $477M | $461M | $495M | $770M | $933M | $1.0B | $1.2B |
| Goodwill | $55.4M | $55.4M | $59.2M | $60.4M | $60.4M | $60.4M | $138M | $170M | $172M | $185M |
| Intangible assets | $15.5M | $15.1M | $16.9M | $17.8M | $16.6M | $15.4M | $161M | $191M | $173M | $160M |
| Total assets | $1.4B | $1.6B | $1.6B | $1.7B | $2.0B | $2.6B | $3.2B | $3.5B | $3.4B | $3.2B |
| Total liabilities | $859M | $933M | $909M | $992M | $1.1B | $1.2B | $1.2B | $1.3B | $1.2B | $1.2B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $580M | $675M | $673M | $701M | $851M | $1.4B | $2.1B | $2.2B | $2.2B | $2.1B |
| Margins | ||||||||||
| Operating margin | 2.2% | 3.2% | 1.4% | 2.9% | 6.1% | 12.3% | 13.8% | 9.1% | 7.3% | 2.9% |
| EBITDA margin | 4.0% | 5.0% | 4.4% | 4.7% | 7.9% | 13.3% | 15.0% | 11.1% | 9.4% | 5.3% |
| Net margin | 1.0% | 1.9% | 0.4% | 1.7% | 3.2% | 9.0% | 10.2% | 7.1% | 5.6% | 2.1% |
| FCF margin | 1.7% | 1.7% | 1.7% | 3.5% | 3.9% | 7.1% | 11.1% | 6.9% | 3.1% | 0.2% |
| Returns | ||||||||||
| Return on capital | 8.2% | 10.7% | 7.3% | 11.9% | 24.5% | 69.6% | 57.6% | 27.7% | 19.5% | 6.6% |
| Return on capital employed | 7.5% | 11.5% | 5.9% | 10.4% | 23.2% | 50.3% | 43.0% | 21.8% | 17.5% | 6.7% |
| Return on equity | 6.6% | 13.2% | 3.0% | 11.8% | 22.5% | 64.7% | 50.3% | 22.7% | 17.3% | 6.3% |
| Return on assets | 2.7% | 5.4% | 1.3% | 4.9% | 9.6% | 31.4% | 29.5% | 14.4% | 11.0% | 4.0% |
| Return on tangible equity | 7.5% | 13.7% | 3.4% | 13.0% | 22.6% | 55.8% | 48.8% | 26.4% | 20.8% | 7.7% |
| Growth | ||||||||||
| Revenue growth | — | 13.3% | 12.7% | −7.0% | 17.9% | 44.8% | 5.8% | −18.5% | −1.7% | −4.8% |
| Net income growth | — | 116.9% | −75.3% | 295.2% | 116.2% | 307.2% | 20.4% | −43.6% | −22.2% | −64.7% |
| EPS growth | — | 116.3% | −75.5% | 296.2% | 115.5% | 304.7% | 20.0% | −43.8% | −21.0% | −63.1% |
| FCF growth | — | 11.4% | 9.9% | 94.8% | 32.0% | 160.6% | 65.4% | −49.1% | −55.8% | −93.9% |
| Share count change | — | 0.4% | 0.8% | −0.4% | 0.5% | 0.5% | 0.3% | 0.3% | −1.5% | −4.3% |
| Financial health | ||||||||||
| Net debt / EBITDA | 2.1x | 1.2x | 1.1x | 0.8x | 0.2x | −0.3x | −0.4x | −0.6x | −0.4x | −0.0x |
| Debt / equity | 0.8x | 0.6x | 0.7x | 0.6x | 0.5x | 0.3x | 0.2x | 0.2x | 0.2x | 0.2x |
| Interest coverage | 3.2x | 5.6x | 2.8x | 5.2x | 12.8x | 39.2x | 45.6x | 24.5x | 20.4x | 8.4x |
| Current ratio | 2.4x | 2.4x | 2.7x | 2.7x | 2.5x | 2.9x | 3.8x | 3.5x | 3.3x | 3.4x |
| Quick ratio | 1.0x | 1.2x | 1.2x | 1.4x | 1.5x | 1.9x | 2.5x | 2.3x | 1.9x | 1.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 2.1% | 1.7% | 1.6% | 1.8% | 1.5% | 1.3% | 1.4% | 3.2% | 3.4% | 3.8% |
| Stock comp / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% |
| Payouts / FCF | 15.0% | 3.5% | 66.4% | 33.1% | 36.8% | 38.1% | 17.2% | 74.8% | 203.0% | 1,712.1% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 7.0 | 5.0 | 6.0 | 6.0 | 6.0 | 5.0 | 4.0 | 5.0 | 5.0 |
| Altman Z'' | 3.8 | 4.3 | 4.3 | 4.4 | 5.3 | 8.1 | 9.0 | 7.5 | 7.3 | 6.1 |
| Accruals ratio | −7.9% | −4.5% | −9.0% | −10.1% | −6.5% | 2.0% | −6.3% | −6.1% | −1.8% | −3.7% |
Source: SEC EDGAR XBRL filings (CIK 0001328581). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.