Rollins, Inc. (ROL) Valuation Ratios - Annual

Trailing Valuation

Trailing Valuation	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Stock Price	60.1	46.4	43.7	36.5	34.2	39.1	22.1	24.1	20.7	15	11.5
Total Shares Outstanding	484.6	484.4	484.1	492.4	491.9	491.6	491.1	491	490.5	490	491.7
Market Cap	29,106.7	22,450.7	21,139.8	17,994	16,828.3	19,207.3	10,859.2	11,817.5	10,143.2	7,355.4	5,660
Total Enterprise Value (TEV)	29,891.5	23,173.6	21,852.3	18,235	17,125.7	19,526	11,258.2	11,702	10,036.1	7,212.6	5,525.4
Dividend Yield	1.1%	1.3%	1.2%	1.2%	1.2%	0.8%	1.4%	1.3%	1.2%	1.5%	1.6%
Buyback Yield	0.1%	0.1%	1.5%	0%	0.1%	0%	0.1%	0.1%	0.1%	0.4%	0.1%
Debt Paydown Yield	—	0.4%	-2.1%	0.6%	0.3%	0.5%	-2.7%	—	—	—	—
Shareholder Yield	0.1%	0.5%	-0.6%	0.6%	0.4%	0.5%	-2.5%	0.1%	0.1%	0.5%	0.3%
P/S	7.9	6.6	6.9	6.7	6.9	8.9	5.4	6.5	6.1	4.7	3.8
P/Gross Profit	15	12.6	13.2	13	13.3	17.3	10.6	12.7	11.9	9.2	7.6
P/E	56.1	48.3	49.1	48.7	47.5	72.4	53.9	51.2	56.4	44.1	37
Earnings Yield	1.8%	2.1%	2%	2.1%	2.1%	1.4%	1.9%	2%	1.8%	2.3%	2.7%
P/OCF	41.5	36.9	40	38.6	41.9	44.1	34	39.5	43.1	32.5	28.8
P/FCF	43.1	38.7	42.6	41.3	44.9	46.6	37.1	43.4	48.1	38	36.1
FCF Yield	2.3%	2.6%	2.3%	2.4%	2.2%	2.1%	2.7%	2.3%	2.1%	2.6%	2.8%
P/B	19	16.9	18.3	14.2	15.1	20.4	13.3	16.6	15.5	12.9	10.8
EV/Sales	8.1	6.8	7.1	6.8	7.1	9	5.6	6.4	6	4.6	3.7
EV/Gross Profit	15.4	13	13.6	13.1	13.6	17.5	11	12.6	11.8	9	7.4
EV/EBITDA	35.6	30.1	32	31.2	32.1	42.9	28.3	31.3	28.7	23.4	19.6
EV/EBIT	41.7	35.3	37.5	37	38.3	51.9	35.5	37.9	34.2	27.9	23.1
EV/OCF	42.6	38.1	41.4	39.1	42.6	44.8	35.2	39.1	42.6	31.8	28.1
EV/FCF	44.3	39.9	44.1	41.9	45.7	47.3	38.5	43	47.6	37.3	35.2

Dividends

Dividends	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Dividend Yield	1.1%	1.3%	1.2%	1.2%	1.2%	0.8%	1.4%	1.3%	1.2%	1.5%	1.6%
DPS	0.7	0.6	0.5	0.4	0.4	0.3	0.3	0.3	0.2	0.2	0.2
Payout Ratio	61.9%	63.9%	60.8%	57.4%	58.5%	60.2%	75.7%	65.9%	68.1%	65.1%	60.3%

Margins

Margins	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Gross Profit Margin	52.9%	52.7%	52.2%	51.5%	52%	51.5%	50.7%	50.9%	51%	50.9%	50.4%
Operating Margin	19.5%	19.4%	19%	18.3%	18.5%	17.4%	15.7%	17%	17.5%	16.5%	16.1%
EBITDA Margin	22.8%	22.7%	22.2%	21.7%	22%	21.1%	19.8%	20.5%	20.9%	19.6%	18.9%
Net Profit Margin	14%	13.8%	14.2%	13.7%	14.7%	12.3%	10.1%	12.7%	10.7%	10.6%	10.2%
Effective Tax Rate	25.4%	26%	25.8%	26.1%	26.1%	26.5%	22.1%	25.4%	39.2%	35.8%	37.4%
Pre-Tax Profit Margin	18.8%	18.6%	19.1%	18.5%	19.9%	16.8%	13%	17.1%	17.6%	16.6%	16.4%
Free Cash Flow Margin	18.3%	17.1%	16.1%	16.1%	15.5%	19.1%	14.5%	14.9%	12.6%	12.3%	10.6%
OCF / Sales	19.1%	17.9%	17.2%	17.3%	16.6%	20.2%	15.9%	16.4%	14.1%	14.4%	13.2%
OCF / Net Income	136%	130.3%	121.5%	126.4%	112.7%	163.4%	157.2%	129.2%	131.4%	135.3%	129.1%
FCF / OCF	96.2%	95.5%	93.9%	93.4%	93.2%	94.7%	91.5%	90.9%	89.5%	85.4%	79.9%
FCF / Net Income	130.8%	124.4%	114%	118.1%	105.1%	154.7%	143.8%	117.5%	117.6%	115.6%	103.1%
FCF / EBITDA	80.3%	75.3%	72.6%	74.4%	70.1%	90.6%	73.4%	72.9%	60.3%	62.6%	55.8%

Capital Efficiency

Capital Efficiency	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Return on Invested Capital	18.6%	20.3%	21%	20.3%	20.1%	18.1%	21%	28%	24.8%	27%	25.6%
Return on Assets	17.7%	18%	18.3%	17.6%	17.1%	15.4%	17.4%	21.6%	18.3%	18.8%	18.1%
Return on Equity	36%	37.5%	35.9%	31%	34.7%	30.4%	26.6%	33.9%	29.3%	30.6%	30.8%
Return on Total Capital	38.3%	37.5%	40.6%	42.3%	36.7%	29.2%	37.7%	70.4%	65.6%	76.2%	68.4%
Return on Capital Employed	28.6%	31.3%	32%	31.2%	30.8%	27.8%	29.8%	40.3%	42.6%	41.9%	41.5%
Return on Tangible Assets	40.6%	44.3%	47.4%	44.2%	45%	34.2%	32.1%	48.5%	36.9%	34.9%	34.6%
Receivables Turnover	14.2	15	15.2	15.2	15.4	14.6	15.1	15.3	15.3	15.9	16.2
Days Sales Outstanding	25.7	24.3	24	24	23.8	24.9	24.2	23.8	23.9	23	22.6
Payables Turnover	33.2	32.4	32	30	21.3	21	31.8	33.5	29.1	28	30.8
Days Payables Outstanding	11	11.2	11.4	12.2	17.1	17.4	11.5	10.9	12.6	13	11.9
Inventory Turnover	41.8	44	46.6	44.6	38.9	41.7	56.4	58.1	57.1	58.2	54.8
Days Inventory Outstanding	8.7	8.3	7.8	8.2	9.4	8.8	6.5	6.3	6.4	6.3	6.7
Cash Conversion Cycle	23.5	21.4	20.4	20	16	16.3	19.2	19.2	17.8	16.2	17.4
Asset Turnover	1.2	1.3	1.3	1.3	1.3	1.2	1.4	1.7	1.7	1.8	1.8
Fixed Asset Turnover	6.7	6.9	7.2	6.9	6.3	5.5	7.6	13.4	12.5	12.3	13.3
Operating Cycle	34.5	32.6	31.9	32.2	33.2	33.7	30.7	30.1	30.3	29.3	29.2
CapEx to OCF	0	0	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2
CapEx to Revenue	0	0	0	0	0	0	0	0	0	0	0
CapEx to Depreciation	0.2	0.2	0.3	0.3	0.3	0.3	0.3	0.4	0.4	0.7	0.9

Financial Health

Financial Health	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Debt	912.1	812.5	816.3	336.3	402.8	417.1	493.3	—	—	—	—
Net Debt	784.7	722.9	712.5	241	297.5	318.7	399	-115.5	-107.1	-142.8	-134.6
Current Ratio	0.8	0.7	0.7	0.7	0.7	0.7	0.8	1	0.9	1	1.1
Quick Ratio	0.6	0.5	0.6	0.6	0.6	0.5	0.6	0.8	0.8	0.9	0.9
Cash Ratio	0.2	0.1	0.2	0.2	0.2	0.2	0.2	0.4	0.4	0.5	0.5
Debt Ratio	0.3	0.3	0.3	0.2	0.2	0.2	0.3	—	—	—	—
Assets to Equity	2.1	2.1	2.2	1.7	1.8	2	2.1	1.5	1.6	1.6	1.6
Cash Flow to Debt Ratio	0.8	0.7	0.6	1.4	1	1	0.6	—	—	—	—
Long-term Debt to Assets	0.2	0.2	0.3	0.1	0.2	0.2	0.2	—	—	—	—
Intangibles to Total Assets	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.6	0.5	0.5	0.5
Net Current Asset Value	-1,136.9	-1,046.5	-1,033.3	-506.2	-557.9	-589.8	-618.8	-96.2	-116.9	-57.8	-55.2
Goodwill / Assets	0.4	0.4	0.4	0.4	0.4	0.4	0.3	0.3	0.3	0.3	0.3
Debt / Equity	0.6	0.6	0.7	0.3	0.4	0.4	0.6	—	—	—	—
Total Debt / Capitalization	0.7	0.6	0.6	0.4	0.5	0.5	0.5	—	—	—	—
Long Term Debt / Capitalization	0.6	0.5	0.6	0.3	0.3	0.4	0.4	—	—	—	—
Long-Term Debt / Equity	0.5	0.5	0.6	0.2	0.3	0.3	0.5	—	—	—	—
Net Debt / EBITDA	0.9	0.9	1	0.4	0.6	0.7	1	-0.3	-0.3	-0.5	-0.5

Per Share	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Revenue per Share	7.6	7	6.3	5.5	4.9	4.4	4.1	3.7	3.4	3.2	3
Basic EPS	1.1	1	0.9	0.8	0.7	0.5	0.4	0.5	0.4	0.3	0.3
Diluted EPS	1.1	1	0.9	0.8	0.7	0.5	0.4	0.5	0.4	0.3	0.3
Book Value per Share	3.2	2.7	2.4	2.6	2.3	1.9	1.7	1.5	1.3	1.2	1.1
Tangible Book Value per Share	-0.9	-0.8	-0.9	0	-0.2	-0.3	-0.3	0.2	0.2	0.3	0.3
Cash per Share	0.3	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.3	0.3
Operating Cash Flow per Share	1.4	1.3	1.1	0.9	0.8	0.9	0.7	0.6	0.5	0.5	0.4
Free Cash Flow per Share	1.4	1.2	1	0.9	0.8	0.8	0.6	0.6	0.4	0.4	0.3
CapEx per Share	0.1	0.1	0.1	0.1	0.1	0	0.1	0.1	0.1	0.1	0.1
Weighted Avg. Shares Outstanding	484.5	484.2	489.9	492.3	492.1	491.6	491.2	490.9	490.5	491	491.8
Weighted Avg. Shares Outstanding Diluted	484.5	484.3	490.1	492.4	492.1	491.6	491.2	490.9	490.5	491	491.8

Common Size

Common Size	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15	Dec '14	Dec '13	Dec '12
SG&A to Revenue	30%	30%	29.8%	29.8%	30%	30.4%	30.9%	30.2%	30.1%	31.2%	31.2%
Stock-based Comp to Revenue	1%	0.9%	0.8%	0.8%	0.6%	1%	0.7%	0.8%	0.7%	0.8%	0.8%