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Definitive Analysis

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Page: Company Financials

Ipek Dogal Enerji Kaynaklari Arastirma ve Üretim A.S.

Ticker: IPEKE.IS | Industry: Gold | Sector: Basic Materials
$118.30 -3.70 (-3.03%)
As of: 2026-01-27

Master Data Export

Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Stock Price 64.43 42.59 34.36 21.72 12.24 11.62 6.23 5.52 3.98 1.49 2.04 2.11 4.26 4.19 2.11 2.14 0.92
Market Capitalization 16,732.72M 11,060.75M 8,926.23M 5,641.89M 3,179.13M 3,017.41M 1,617.17M 1,434.67M 1,034.60M 385.88M 525.10M 547.93M 1,107.23M 1,087.06M 440.21M 436.64M 181.07M
(-) Cash & Equivalents 5,320.99M 1,933.57M 1,080.06M 2,523.54M 7,894.97M 5,640.60M 3,841.79M 2,442.60M 1,964.44M 1,546.53M 1,389.38M 1,299.87M 1,126.78M 1,120.88M 563.24M 223.67M 0.00M
(+) Total Debt 36.31M 7.12M 352.09M 28.56M 31.24M 13.25M 5.06M 0.00M 4.41M 22.02M 60.63M 50.21M 65.84M 32.29M 23.91M 25.14M 0.00M
Enterprise Value 11,448.04M 9,134.30M 8,198.26M 3,146.91M -4,684.61M -2,609.95M -2,219.57M -1,007.94M -925.43M -1,138.63M -803.65M -701.73M 46.29M -1.53M -99.12M 238.12M 181.07M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31
Revenue 14,509M 10,414M 9,252M 8,606M 5,941M 4,156M 3,330M 2,928M 1,671M 1,037M 1,100M 966M 1,053M 1,090M 1,183M 909M 543M 389M 232M 201M 225M 84M
Cost of Revenue 8,756M 7,105M 6,343M 5,284M 2,429M 1,642M 1,273M 1,039M 699M 485M 436M 586M 500M 523M 390M 271M 203M 168M 120M 88M 91M 51M
Gross Profit 5,752M 3,309M 2,909M 3,322M 3,511M 2,514M 2,056M 1,889M 972M 551M 664M 380M 553M 567M 793M 638M 341M 221M 112M 112M 134M 33M
Gross Profit Margin 39.6% 31.8% 31.4% 38.6% 59.1% 60.5% 61.8% 64.5% 58.2% 53.2% 60.4% 39.4% 52.5% 52.0% 67.0% 70.1% 62.7% 56.7% 48.4% 55.9% 59.5% 38.8%
R&D Expenses 1,420M 880M 1,088M 617M 301M 287M 128M 141M 42M 20M 24M 20M 26M 62M 61M 27M 15M 10M 0M 0M 0M 0M
SG&A Expenses 1,625M 1,472M 1,240M 1,086M 496M 143M 154M 86M 62M 135M 110M 70M 139M 139M 63M 103M 82M 71M 53M 0M 0M 0M
Operating Expenses 3,747M 3,294M 3,481M 3,080M 1,224M 561M 416M 316M 225M 170M 403M 331M 196M 238M 207M 161M 98M 85M 55M 30M 33M 10M
Operating Income (EBIT) 2,006M 15M -571M 243M 2,287M 1,953M 1,640M 1,574M 747M 381M 262M 50M 357M 329M 586M 476M 243M 135M 58M 82M 100M 22M
Operating Income Margin 13.8% 0.1% -6.2% 2.8% 38.5% 47.0% 49.3% 53.7% 44.7% 36.8% 23.8% 5.1% 33.9% 30.2% 49.5% 52.4% 44.6% 34.8% 24.9% 41.0% 44.7% 26.4%
Interest Income 2,476M 1,888M 2,352M 706M 1,949M 1,147M 567M 575M 339M 205M 115M 36M 73M 11M 102M 43M 22M 7M 0M 3M 0M 0M
Interest Expense 72M 252M 238M 144M 274M 11M 0M 0M 3M 0M 4M 9M 7M 17M 1M 7M 7M 3M 45M 0M 1M 2M
Net Interest Income 2,403M 1,637M 2,114M 562M 1,675M 1,135M 567M 575M 336M 205M 112M 27M 66M -6M 101M 37M 15M 5M -45M 3M -1M -2M
Unusual Items 204M -7,192M -1,841M -1,093M 610M 863M 53M 97M 275M 42M 71M 96M 49M 90M 0M 10M 0M 0M 45M -52M -57M -12M
EBT Excluding Unusual Items 4,409M 1,651M 1,543M 805M 3,962M 3,089M 2,207M 2,149M 1,083M 586M 373M 77M 423M 323M 687M 513M 258M 140M 13M 85M 100M 20M
Pre-Tax Income 4,613M -5,541M -298M -288M 4,572M 3,952M 2,259M 2,246M 1,359M 628M 445M 173M 472M 413M 687M 523M 258M 140M 58M 34M 43M 8M
Pre-Tax Margin 31.8% -53.2% -3.2% -3.3% 77.0% 95.1% 67.8% 76.7% 81.3% 60.6% 40.4% 17.9% 44.8% 37.9% 58.1% 57.5% 47.4% 36.0% 25.1% 16.9% 19.1% 9.8%
Income Tax Expense 55M -1,145M 471M -868M 760M 1,040M 566M 475M 254M 139M 183M 71M 70M 19M 156M 91M 49M 20M 15M 17M 18M 5M
Net Income -26M -929M -997M 179M 836M 661M 362M 407M 238M 178M 21M -23M 70M 65M 83M 94M 52M 33M 7M 17M 25M 4M
Net Income Margin -0.2% -8.9% -10.8% 2.1% 14.1% 15.9% 10.9% 13.9% 14.3% 17.2% 1.9% -2.4% 6.7% 6.0% 7.0% 10.4% 9.6% 8.6% 3.2% 8.5% 11.2% 4.3%
Depreciation & Amortization 1,115M 1,725M 1,368M 820M 307M 229M 230M 288M 96M 119M 109M 172M 172M 167M 108M 83M 73M 82M 18M 8M 6M 184M
EBITDA 3,120M 1,739M 797M 1,063M 2,594M 2,182M 1,870M 1,862M 843M 500M 370M 221M 529M 496M 694M 559M 315M 217M 76M 91M 106M 206M
EBITDA Margin 21.5% 16.7% 8.6% 12.3% 43.7% 52.5% 56.2% 63.6% 50.5% 48.2% 33.7% 22.9% 50.2% 45.5% 58.7% 61.5% 58.0% 55.8% 32.8% 45.2% 47.2% 245.4%
NOPAT 1,982M 12M -451M 192M 1,907M 1,439M 1,229M 1,241M 608M 296M 154M 29M 304M 314M 453M 394M 196M 117M 43M 41M 59M 10M
NOPAT Margin 13.7% 0.1% -4.9% 2.2% 32.1% 34.6% 36.9% 42.4% 36.4% 28.6% 14.0% 3.0% 28.9% 28.8% 38.3% 43.3% 36.1% 29.9% 18.4% 20.7% 26.1% 11.7%
Owner's Earnings -4,963M -3,178M -4,016M -281M 567M 269M 290M 546M 87M 154M 90M -4M 114M -166M -92M -83M -93M -24M -132M 2M 19M -28M
Owner's Earnings Margin -34.2% -30.5% -43.4% -3.3% 9.5% 6.5% 8.7% 18.6% 5.2% 14.9% 8.2% -0.4% 10.9% -15.3% -7.8% -9.1% -17.2% -6.2% -57.0% 1.0% 8.3% -33.3%
EPS (Basic) 1.36 -3.57 -3.84 0.69 3.22 2.54 1.39 1.57 0.92 0.69 0.08 -0.09 0.27 0.25 0.30 0.41 0.26 0.17 0.03 0.38 0.56 0.08
EPS (Diluted) -0.10 -3.58 -3.84 0.69 3.22 2.54 1.39 1.56 0.92 0.69 0.08 -0.09 0.27 0.25 0.32 0.41 0.26 0.16 0.04 0.38 0.56 0.08
Shares (Basic) 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 232M 204M 204M 204M 45M 45M 45M
Shares (Diluted) 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 260M 232M 204M 204M 204M 45M 45M 45M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31
Cash & Cash Equivalents 7,871.25M 5,197.21M 1,013.56M 1,070.14M 524.27M 9,179.19M 6,190.20M 4,714.16M 2,794.53M 2,045.39M 1,737.64M 1,235.07M 1,322.89M 1,159.98M 1,187.44M 712.73M 296.07M 74.15M 88.04M 18.73M 12.13M 12.92M
Short-Term Investments 9,858.23M 8,477.78M 2,584.74M 8,876.20M 8,573.48M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.30M 0.00M
Cash & Short-Term Investments 17,729.47M 13,674.99M 3,598.31M 9,946.34M 9,097.75M 9,179.19M 6,190.20M 4,714.16M 2,794.53M 2,045.39M 1,737.64M 1,235.07M 1,322.89M 1,159.98M 1,187.44M 712.73M 296.07M 74.15M 88.04M 18.73M 12.43M 12.92M
Net Receivables 99.71M 277.72M 87.27M 122.52M 74.54M 29.24M 21.06M 26.60M 162.06M 43.18M 20.42M 67.41M 44.67M 43.95M 76.32M 36.99M 33.34M 60.75M 38.96M 48.63M 71.07M 23.71M
Inventory 1,717.48M 2,189.74M 3,042.71M 1,602.46M 0.00M 464.17M 435.55M 413.82M 336.27M 219.01M 149.91M 178.76M 230.77M 147.09M 95.56M 84.80M 58.98M 65.31M 32.73M 27.79M 17.83M 20.21M
Other Current Assets 1,622.51M 1,707.48M 7,260.67M 155.77M 2,178.79M 85.24M 66.52M 81.66M 0.08M 6.10M 57.41M 0.72M 72.63M 1.26M 0.22M 0.52M 29.62M 67.57M 1.34M 0.08M 0.03M 0.08M
Total Current Assets 21,169.16M 17,849.92M 13,988.96M 11,827.08M 11,351.08M 9,757.83M 6,713.32M 5,236.24M 3,292.94M 2,313.68M 1,965.38M 1,481.95M 1,670.97M 1,352.28M 1,359.54M 835.04M 418.01M 267.78M 161.07M 95.22M 101.36M 56.92M
Property, Plant & Equipment 18,304.75M 15,758.23M 10,805.75M 6,744.22M 1,721.44M 1,466.55M 723.16M 653.59M 763.20M 716.17M 682.08M 771.02M 880.62M 916.55M 747.05M 596.19M 422.76M 279.33M 151.14M 68.62M 56.04M 49.62M
Goodwill 0.00M 0.00M 0.00M 95.25M 11.23M 11.23M 11.23M 15.77M 15.77M 15.77M 15.77M 15.77M 15.77M 15.77M 15.77M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 28.58M 33.05M 39.16M 12.77M 4.65M 4.05M 1.18M 1.53M 2.48M 5.85M 4.60M 6.99M 59.49M 59.04M 58.31M 36.99M 33.34M 60.75M 38.96M 48.63M 71.07M 23.71M
Long-Term Investments 5,479.76M 2,903.87M -109.18M -7,161.57M -8,355.06M 679.66M 657.08M 446.03M 449.20M 343.29M 344.92M 419.50M 109.65M 117.17M 115.89M 0.70M 0.17M 0.06M 1.63M 0.56M -0.29M 3.30M
Tax Assets 2,702.19M 2,398.81M 2,009.00M 1,539.34M 278.96M 219.54M 144.20M 153.97M 105.69M 58.42M 59.45M 85.47M 83.42M 28.02M 14.19M 33.10M 45.21M 35.05M 12.51M 8.39M 2.02M 1.70M
Other Non-Current Assets 1,925.96M 3,787.83M 8,354.67M 13,768.73M 9,221.49M 146.45M 88.09M 58.48M 74.18M 54.87M 49.14M 0.10M 29.49M 28.72M 0.27M 38.84M 28.15M 6.64M 113.87M 40.65M 32.92M 24.04M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 28,441.23M 24,881.78M 21,099.40M 14,998.74M 2,882.73M 2,527.47M 1,624.94M 1,329.38M 1,410.53M 1,194.38M 1,155.96M 1,298.86M 1,178.43M 1,165.27M 951.48M 705.82M 529.64M 381.82M 318.11M 166.84M 161.77M 102.37M
Total Assets 49,610.40M 42,731.70M 35,088.36M 26,825.82M 14,233.80M 12,285.30M 8,338.26M 6,565.62M 4,703.47M 3,508.06M 3,121.34M 2,780.81M 2,849.40M 2,517.55M 2,311.02M 1,540.86M 947.65M 649.61M 479.19M 262.06M 263.13M 159.29M
Accounts Payable 727.71M 767.75M 224.77M 327.74M 283.61M 215.80M 109.82M 74.39M 75.35M 49.15M 41.79M 63.01M 49.98M 67.24M 56.74M 48.16M 37.64M 37.05M 28.10M 14.91M 12.59M 15.38M
Short-Term Debt 65.00M 20.00M 20.00M 383.34M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 14.54M 23.56M 21.15M 14.59M 3.46M 17.37M 14.33M 13.24M 3.08M 1.02M 8.04M
Tax Payables 20.34M 98.19M 61.41M 206.22M 38.95M 426.36M 119.47M 150.86M 48.47M 31.01M 47.14M 15.40M 26.96M 0.00M 27.06M 40.57M 16.29M 16.63M 18.38M 0.00M 0.00M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 862.01M 951.50M 554.44M 363.10M 0.63M 2.69M 143.97M 102.75M 84.92M 49.10M 73.11M 79.99M 0.00M 42.91M 44.20M 31.89M 29.46M 13.76M
Other Current Liabilities 2,056.60M 1,275.08M 1,644.61M 1,074.48M 731.94M 483.31M 412.15M 209.22M 146.27M 192.43M 98.95M 67.50M 54.97M 71.76M 63.58M 92.23M 89.07M 35.13M 31.74M 8.18M 28.65M 16.80M
Total Current Liabilities 2,869.65M 2,161.01M 1,950.78M 1,991.78M 1,916.51M 2,076.97M 1,195.89M 797.57M 270.72M 275.28M 331.84M 263.20M 240.39M 209.25M 235.07M 264.41M 160.36M 146.06M 135.66M 58.06M 71.72M 53.98M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 4.45M 0.00M 0.00M 0.00M 10.18M 25.07M 41.11M 63.66M 1.10M 0.71M 1.71M
Capital Lease Obligations 0.00M 1.92M 2.83M 5.12M 22.40M 40.14M 4.93M 4.45M 0.00M 0.00M 13.33M 26.67M 37.64M 38.98M 39.41M 0.00M 0.00M 0.00M 0.00M 0.00M 0.03M 0.16M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 22.63M 498.61M 0.00M 0.25M 0.00M 0.00M 1.92M 4.55M 3.43M 1.63M 0.31M 10.36M 0.16M 0.13M 0.00M 1.81M 0.79M 0.50M 1.07M
Other Non-Current Liabilities 1,469.11M 1,425.83M 1,094.30M 637.41M 500.49M 395.06M 40.31M 187.36M 138.15M 49.79M 141.01M 15.99M 12.75M 40.27M 65.32M 47.70M 30.52M 21.71M 0.00M 0.17M 1.35M 0.56M
Total Non-Current Liabilities 1,469.11M 1,427.75M 1,097.13M 665.16M 1,021.50M 435.20M 45.49M 191.81M 138.15M 51.71M 158.89M 50.54M 52.03M 79.56M 115.09M 58.04M 55.71M 62.81M 65.48M 2.06M 2.59M 3.50M
Total Liabilities 4,338.76M 3,588.76M 3,047.91M 2,656.94M 2,938.01M 2,512.17M 1,241.37M 989.37M 408.87M 326.99M 490.73M 313.74M 292.42M 288.81M 350.16M 322.45M 216.08M 208.87M 201.14M 60.13M 74.31M 57.48M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 3.26M 0.96M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 259.79M 129.89M 129.89M 129.89M 129.89M 28.59M 28.59M 28.59M
Retained Earnings 4,501.11M 2,990.03M 2,530.77M 2,828.69M 2,417.14M 1,834.17M 1,173.66M 1,038.86M 632.31M 649.62M 471.28M 460.97M 495.72M 441.75M 397.53M 296.64M 118.84M 30.06M 22.60M 24.49M 7.03M -9.46M
Accumulated OCI 0.00M 0.00M -128.74M -60.42M 285.27M 45.35M 45.47M 51.36M 47.37M 46.43M 45.30M 43.91M -3.26M -0.96M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest 32,487.75M 28,730.59M 23,428.64M 17,537.82M 9,999.44M 8,536.25M 6,285.01M 4,726.36M 3,362.42M 2,311.51M 2,007.48M 1,738.09M 1,717.93M 1,568.55M 1,363.21M 886.93M 491.47M 251.80M 200.23M 117.84M 93.47M 47.88M
Total Shareholders’ Equity 4,760.89M 3,249.82M 2,661.82M 3,028.06M 2,962.20M 2,139.30M 1,478.91M 1,350.01M 939.46M 955.83M 776.37M 764.66M 755.51M 701.54M 657.31M 426.53M 248.73M 159.95M 152.49M 53.07M 35.61M 19.12M
Total Equity 37,248.64M 31,980.41M 26,090.45M 20,565.88M 12,961.64M 10,675.55M 7,763.92M 6,076.37M 4,301.88M 3,267.34M 2,783.85M 2,502.75M 2,473.43M 2,270.08M 2,020.52M 1,313.46M 740.20M 411.76M 352.72M 170.91M 129.08M 67.00M
Total Liabilities & Equity 41,587.40M 35,569.17M 29,138.36M 23,222.83M 15,899.65M 13,187.72M 9,005.29M 7,065.74M 4,710.75M 3,594.33M 3,274.58M 2,816.49M 2,765.85M 2,558.89M 2,370.67M 1,635.91M 956.27M 620.63M 553.86M 231.04M 203.39M 124.48M
Tangible Assets 49,581.82M 42,698.66M 35,049.20M 26,717.80M 14,217.92M 12,270.02M 8,325.84M 6,548.32M 4,685.22M 3,486.43M 3,100.97M 2,758.04M 2,774.13M 2,442.74M 2,236.94M 1,503.87M 914.31M 588.86M 440.23M 213.44M 192.05M 135.58M
Tangible Equity 37,220.06M 31,947.36M 26,051.29M 20,457.86M 12,945.76M 10,660.28M 7,751.51M 6,059.06M 4,283.63M 3,245.71M 2,763.48M 2,479.99M 2,398.17M 2,195.27M 1,946.43M 1,276.48M 706.85M 351.01M 313.76M 122.28M 58.01M 43.29M
Tangible Book Value 37,220.06M 31,947.36M 26,051.29M 20,457.86M 12,945.76M 10,660.28M 7,751.51M 6,059.06M 4,283.63M 3,245.71M 2,763.48M 2,479.99M 2,398.17M 2,195.27M 1,946.43M 1,276.48M 706.85M 351.01M 313.76M 122.28M 58.01M 43.29M
Total Investments 15,491.04M 8,477.78M 2,475.57M 1,714.63M 218.42M 679.66M 657.08M 446.03M 449.20M 343.29M 344.92M 419.50M 109.65M 117.17M 115.89M 0.70M 0.17M 0.06M 1.63M 0.56M 0.01M 3.30M
Net Debt -7,806.25M -5,177.21M -993.56M -686.80M -524.27M -9,179.19M -6,190.20M -4,714.16M -2,794.53M -2,045.39M -1,737.64M -1,216.08M -1,299.33M -1,138.83M -1,172.85M -699.09M -253.64M -18.72M -11.14M -14.54M -10.40M -3.17M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31
Working Capital 17,737.5M 15,430.5M 11,951.4M 9,998.7M 10,589.6M 8,564.3M 6,340.4M 4,935.1M 3,029.7M 2,126.5M 1,773.7M 1,298.7M 1,444.5M 1,246.7M 1,206.9M 703.5M 256.4M 103.5M 99.9M 42.0M 55.1M 14.7M
Total Capital 12,286.9M 10,176.8M 8,548.9M 7,185.5M 2,984.8M 2,179.7M 1,484.1M 1,354.7M 939.7M 957.7M 789.9M 810.6M 858.5M 795.3M 751.6M 513.1M 317.0M 251.4M 243.6M 85.1M 61.2M 51.7M
Capital Employed 46,178.7M 40,312.2M 33,050.8M 24,997.4M 13,472.4M 11,091.7M 7,965.4M 6,264.5M 4,440.3M 3,320.9M 2,929.6M 2,597.5M 2,622.9M 2,411.9M 2,158.4M 1,423.9M 839.1M 510.6M 435.2M 203.6M 160.7M 103.1M
Invested Capital 4,415.6M 4,979.6M 7,535.3M 6,115.3M 2,460.6M -6,999.5M -4,706.1M -3,359.5M -1,854.8M -1,087.7M -947.7M -424.5M -464.4M -364.7M -435.9M -199.6M 20.9M 177.3M 155.5M 66.3M 49.1M 38.8M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31
Net Income 4,695.47M -4,210.41M -997.46M 179.39M 3,812.34M 2,911.80M 1,693.53M 1,771.44M 1,104.93M 488.25M 261.32M 93.30M 401.75M 394.86M 687.42M 94.46M 52.05M 33.31M 7.36M 0.00M 0.00M 0.00M
Depreciation & Amortization 1,114.60M 1,721.23M 1,321.86M 820.14M 312.93M 236.43M 237.54M 243.93M 101.32M 91.17M 110.19M 171.95M 171.74M 166.53M 107.90M 82.67M 72.55M 81.61M 18.22M 8.27M 5.69M 184.05M
Deferred Income Tax 0.00M -2,008.17M 0.00M -2,002.94M -45.81M -75.54M 11.69M 0.00M -39.80M -9.69M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 4,906.30M 1,400.73M 2,708.35M -1,397.87M -1,406.29M -186.30M -430.17M -139.45M -138.39M -132.34M 21.85M 43.53M -88.24M -71.64M -89.04M -51.51M 45.04M -17.72M -40.72M -16.48M -62.10M -31.06M
Accounts Receivable 2,078.63M -752.72M 1,015.89M -902.60M -496.97M -206.12M -144.19M -54.51M -92.15M 128.02M -48.03M 9.50M -5.58M 6.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory 1,467.18M -5.84M -743.79M -141.12M -668.85M -40.93M -58.32M -75.97M -105.70M -70.35M 26.57M 50.73M -87.85M -39.56M -9.86M -25.83M 6.33M -32.58M -13.09M -11.21M 3.73M -11.49M
Accounts Payable 0.00M -250.40M -248.10M 44.13M -43.68M 105.98M 35.44M 1.58M 26.20M 9.60M -35.69M 13.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital 1,360.49M 2,234.17M 2,436.25M -398.28M -196.79M -45.23M -263.10M -10.56M -32.70M -61.99M -4.72M -7.20M -0.39M -32.09M -79.19M -25.68M 38.71M 14.86M -27.63M -5.27M -65.83M -19.57M
Other Non-Cash Items -2,355.48M 8,465.01M -2,027.66M 1,333.30M -3,889.54M -585.98M -157.82M 192.28M -74.27M -209.64M 53.26M 218.10M -52.92M -83.85M -228.18M 406.30M 229.66M 47.43M 83.24M 29.70M 72.59M 50.54M
Net Cash from Operating Activities 8,360.89M 2,477.15M 1,005.10M -1,067.99M -1,170.55M 2,375.95M 1,343.08M 2,068.19M 993.59M 237.44M 446.63M 526.88M 432.34M 405.89M 478.09M 531.93M 399.29M 144.64M 68.11M 21.49M 16.17M 203.52M
Capital Expenditures (PPE) -6,047.74M -3,972.99M -4,384.33M -1,280.93M -575.90M -620.48M -302.93M -148.62M -247.00M -143.35M -39.90M -152.88M -127.64M -397.85M -282.63M -260.25M -218.06M -139.12M -157.89M -23.40M -12.19M -215.67M
Acquisitions (Net) 0.00M 224.25M 1,750.00M 0.00M 41.66M 0.20M 0.24M 0.75M 3.39M 11.01M 6.49M 3.05M 0.00M 0.00M -0.27M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -790.85M -8,964.50M -2,789.19M -8,586.62M -8,020.83M -2.50M -22.96M -0.70M -0.83M 0.00M 0.00M -7.48M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 11,088.16M 6,377.75M 13,960.19M 7,979.17M 18.98M 22.73M -0.05M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 3,608.03M 4,547.85M -37.59M 351.95M -5,466.44M 1,200.99M 525.38M 0.05M 2.56M 11.01M 108.64M -112.06M 81.05M 94.47M -281.95M 112.70M 39.96M -2.49M -39.98M -3.98M -0.12M -9.04M
Net Cash from Investing Activities -3,230.57M 3,348.67M 916.64M 4,444.59M -6,042.33M 597.19M 222.45M -148.56M -244.44M 81.18M 81.71M -116.49M -46.58M -303.38M -282.23M -143.63M -177.25M -138.58M -147.56M -23.07M -12.05M -215.50M
Net Debt Issuance 62.59M -26.39M -363.34M 329.58M -44.66M 0.00M 0.00M 0.00M 0.00M -11.24M -32.33M -16.69M -1.17M -3.51M 29.43M -8.23M -13.00M -21.47M 72.72M 2.42M -8.01M 6.38M
Long-Term Debt Issuance 44.27M -26.39M -363.34M 329.58M -44.66M 0.00M 0.00M 0.00M 0.00M -11.24M -32.33M -16.69M -1.17M -3.51M 29.43M -8.23M -13.00M -21.47M 72.72M 2.42M -8.01M 6.38M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -103.60M -984.89M -1,319.59M -2,094.31M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 130.13M 116.25M 0.00M 0.00M 78.44M 0.00M 0.00M 11.33M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 130.13M 116.25M 0.00M 0.00M 78.44M 0.00M 0.00M 11.33M
Common Stock Repurchased -103.60M -1,868.75M -1,319.59M -3,023.74M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 929.43M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid 0.00M -651.47M 0.00M -838.16M -1,403.28M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -107.49M -183.34M -110.94M -4.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Dividends Paid 0.00M -186.69M 0.00M -838.16M -1,403.28M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -107.49M -183.34M -110.94M -4.10M -0.82M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -89.17M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.29M -1,261.06M -10.09M -3.42M 44.66M 0.00M 0.00M 0.00M 0.00M 0.00M -0.97M -8.57M -6.72M -2.18M 213.63M -78.85M 0.00M 1.53M -2.39M 0.00M 3.11M -1.21M
Net Cash from Financing Activities -40.72M -2,459.03M -1,693.02M -2,606.31M -1,403.28M -21.95M -11.25M 0.00M 0.00M -13.33M -33.30M -132.76M -191.23M -116.63M 279.92M 28.36M -0.13M -19.94M 148.77M 8.17M -4.91M 16.49M
Effect of FX on Cash -1,273.48M -181.11M -779.44M -562.59M -5,968.69M 21.95M 11.25M 0.00M 0.00M 0.00M 0.00M -76.33M -28.27M -12.69M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 4,021.99M 2,424.41M -550.72M 207.70M -8,616.17M 2,973.14M 1,565.53M -874.91M 749.15M 305.28M 494.31M -87.39M 166.25M -26.80M 475.78M 416.66M 221.92M -13.89M 69.31M 6.60M -0.79M 4.52M
Cash at Beginning of Period 12,622.09M 5,436.23M 1,543.06M 861.06M 9,138.74M 6,165.60M 4,600.06M 2,794.53M 2,045.39M 1,728.32M 1,234.01M 1,321.40M 1,155.15M 1,181.95M 706.17M 296.07M 74.15M 88.04M 18.73M 12.13M 12.92M 8.40M
Cash at End of Period 16,644.08M 7,860.64M 992.34M 1,068.76M 522.57M 9,138.74M 6,165.60M 1,919.62M 2,794.53M 2,033.60M 1,728.32M 1,234.01M 1,321.40M 1,155.15M 1,181.95M 712.73M 296.07M 74.15M 88.04M 18.73M 12.13M 12.92M
Operating Cash Flow 7,361.01M 2,011.73M 1,005.10M -1,067.99M -1,170.55M 2,375.95M 1,343.08M 2,068.19M 993.59M 237.44M 446.63M 526.88M 432.34M 405.89M 478.09M 531.93M 399.29M 144.64M 68.11M 21.49M 16.17M 203.52M
Capital Expenditure -6,051.11M -3,973.15M -4,386.55M -1,280.93M -575.90M -620.48M -302.93M -148.62M -247.00M -143.35M -39.90M -152.88M -127.64M -397.85M -282.63M -260.25M -218.06M -139.12M -157.89M -23.40M -12.19M -215.67M
Free Cash Flow 1,309.90M -1,961.42M -3,381.45M -2,348.92M -1,746.45M 1,755.47M 1,040.15M 1,919.57M 746.59M 94.09M 406.73M 373.99M 304.70M 8.04M 195.46M 271.68M 181.23M 5.51M -89.78M -1.91M 3.99M -12.15M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31
EBITDA 3,822.19M 2,680.68M 1,949.20M 2,439.35M 3,020.64M 2,313.39M 2,005.04M 1,950.14M 964.07M 515.54M 639.51M 462.27M 559.95M 533.28M 777.86M 590.22M 316.95M 221.00M 77.88M 120.37M 139.43M 216.65M
(-) Tax Adjustment 45.31M 553.95M 0.00M 853.77M 501.92M 608.78M 501.95M 412.18M 180.00M 114.55M 223.83M 161.79M 83.11M 23.87M 176.89M 102.44M 60.46M 30.90M 20.46M 42.13M 48.80M 75.83M
(-) Change In Working Capital 4,906.30M 1,400.73M 2,708.35M -1,397.87M -1,406.29M -186.30M -430.17M -139.45M -138.39M -132.34M 21.85M 43.53M -88.24M -71.64M -89.04M -51.51M 45.04M -17.72M -40.72M -16.48M -62.10M -31.06M
(-) Capital Expenditure -6,051.11M -3,973.15M -4,386.55M -1,280.93M -575.90M -620.48M -302.93M -148.62M -247.00M -143.35M -39.90M -152.88M -127.64M -397.85M -282.63M -260.25M -218.06M -139.12M -157.89M -23.40M -12.19M -215.67M
Unlevered Free Cash Flow -7,180.54M -3,247.15M -5,145.70M 1,702.51M 3,349.11M 1,270.43M 1,630.33M 1,528.79M 675.47M 389.98M 353.93M 104.06M 437.44M 183.19M 407.38M 279.05M -6.62M 68.70M -59.74M 71.32M 140.54M -43.79M
(-) Net Interest Income After Taxes 2,374.89M 1,298.42M 2,114.40M 365.41M 1,396.60M 836.64M 424.75M 453.65M 273.30M 159.48M 72.51M 17.76M 56.08M -5.65M 77.95M 30.21M 12.13M 4.04M -32.86M 2.02M -0.53M -1.22M
Net Debt Issuance 62.59M -26.39M -363.34M 329.58M -44.66M 0.00M 0.00M 0.00M 0.00M -11.24M -32.33M -16.69M -1.17M -3.51M 29.43M -8.23M -13.00M -21.47M 72.72M 2.42M -8.01M 6.38M
Levered Free Cash Flow -9,492.84M -4,571.97M -7,623.44M 1,666.69M 1,907.85M 433.79M 1,205.58M 1,075.14M 402.17M 219.27M 249.09M 69.61M 380.19M 185.33M 358.87M 240.61M -31.74M 43.18M 45.83M 71.73M 133.05M -36.19M