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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Spire Inc.

Ticker: SR-PA | Industry: Regulated Gas | Sector: Utilities
$25.30 +0.02 (0.08%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric MRQ MRQ-1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Stock Price 81.52 72.99 77.59 64.10 63.13 69.33 68.14 64.36 84.04 72.28 71.76 66.72 54.31 48.83 44.50 40.12 38.79 34.45 34.51 42.83 32.65 33.97 30.67 29.52 26.39 23.68 24.33 21.10 22.14 24.84 23.75 23.47
Market Capitalization 4,809.68M 4,299.11M 4,556.92M 3,669.47M 3,331.10M 3,618.41M 3,516.02M 3,300.17M 4,265.00M 3,596.07M 3,411.47M 2,979.02M 2,344.70M 1,879.90M 1,265.95M 894.83M 858.68M 758.22M 756.36M 931.37M 702.04M 723.45M 647.10M 598.57M 502.58M 447.67M 459.21M 398.23M 419.75M 440.15M 444.60M 440.20M
(-) Cash & Equivalents 5.70M 13.10M 11.33M 12.25M 5.65M 8.90M 35.10M 30.85M 11.05M 9.38M 10.50M 7.35M 17.75M 153.06M 197.72M 26.21M 42.94M 76.26M 84.32M 55.87M 47.88M 45.52M 13.10M 18.64M 17.83M 12.98M 5.03M 4.99M 8.48M 4.90M 5.25M 5.98M
(+) Total Debt 1,804.50M 4,900.40M 3,820.30M 4,668.90M 4,614.00M 4,177.75M 3,679.63M 3,117.18M 2,831.15M 2,591.10M 2,540.03M 2,278.65M 2,127.45M 1,558.00M 730.46M 395.19M 404.10M 487.60M 550.92M 538.31M 566.92M 589.16M 498.91M 485.34M 460.87M 424.89M 406.14M 348.11M 289.50M 269.00M 252.33M 226.85M
Enterprise Value 6,608.48M 9,186.41M 8,365.89M 8,326.12M 7,939.45M 7,787.26M 7,160.55M 6,386.50M 7,085.10M 6,177.80M 5,940.99M 5,250.32M 4,454.40M 3,284.85M 1,798.70M 1,263.81M 1,219.84M 1,169.56M 1,222.95M 1,413.81M 1,221.08M 1,267.09M 1,132.91M 1,065.28M 945.62M 859.59M 860.32M 741.36M 700.77M 704.25M 691.68M 661.08M

Income Statement

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30 2015-09-30 2014-09-30 2013-09-30 2012-09-30 2011-09-30 2010-09-30 2009-09-30 2008-09-30 2007-09-30 2006-09-30 2005-09-30 2004-09-30 2003-09-30 2002-09-30 2001-09-30 2000-09-30 1999-09-30 1998-09-30 1997-09-30 1996-09-30
Revenue 2,476M 2,593M 2,476M 2,593M 2,666M 2,199M 2,236M 1,855M 1,952M 1,965M 1,741M 1,537M 1,976M 1,627M 1,017M 1,126M 1,603M 1,735M 1,895M 2,209M 1,856M 1,835M 1,597M 1,250M 1,050M 755M 1,002M 566M 491M 562M 616M 557M
Cost of Revenue 1,370M 1,611M 542M 1,611M 1,778M 1,374M 1,412M 1,155M 1,314M 1,349M 1,109M 993M 1,432M 1,266M 812M 921M 1,375M 1,384M 1,487M 1,818M 1,497M 1,484M 677M 576M 484M 340M 646M 295M 246M 312M 358M 308M
Gross Profit 1,106M 982M 1,934M 982M 888M 825M 823M 701M 638M 616M 632M 544M 545M 361M 205M 205M 228M 351M 408M 391M 359M 351M 920M 675M 567M 415M 356M 271M 245M 250M 258M 248M
Gross Profit Margin 44.7% 37.9% 78.1% 37.9% 33.3% 37.5% 36.8% 37.8% 32.7% 31.3% 36.3% 35.4% 27.6% 22.2% 20.1% 18.2% 14.2% 20.2% 21.5% 17.7% 19.3% 19.1% 57.6% 54.0% 53.9% 55.0% 35.6% 47.8% 49.9% 44.5% 41.9% 44.6%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Operating Expenses 582M 494M 1,410M 494M 469M 417M 373M 494M 336M 322M 291M 262M 272M 194M 108M 94M 110M 246M 283M 279M 259M 251M 830M 594M 487M 355M 213M 173M 167M 174M 182M 184M
Operating Income (EBIT) 524M 488M 524M 488M 419M 408M 450M 206M 302M 294M 341M 282M 273M 166M 97M 111M 118M 105M 125M 111M 100M 100M 90M 81M 79M 60M 144M 98M 78M 76M 76M 64M
Operating Income Margin 21.2% 18.8% 21.2% 18.8% 15.7% 18.6% 20.1% 11.1% 15.5% 15.0% 19.6% 18.4% 13.8% 10.2% 9.5% 9.8% 7.4% 6.0% 6.6% 5.0% 5.4% 5.4% 5.6% 6.4% 7.5% 7.9% 14.3% 17.2% 16.0% 13.5% 12.4% 11.5%
Interest Income 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 1M 1M 1M 2M 0M 4M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 204M 201M 204M 201M 186M 120M 107M 106M 104M 98M 89M 77M 75M 46M 27M 25M 25M 27M 30M 9M 11M 10M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income -204M -201M -204M -201M -186M -120M -107M -106M -104M -98M -89M -77M -75M -46M -26M -24M -24M -25M -30M -5M -11M -10M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Unusual Items 12M 22M 12M 22M 23M -9M -3M 0M 21M -8M -13M 9M 1M -3M 0M 2M -1M 1M 1M -23M -21M -22M -29M -25M -26M -25M -98M -58M -38M -33M -26M -14M
EBT Excluding Unusual Items 320M 287M 320M 287M 233M 288M 344M 101M 198M 196M 252M 205M 198M 120M 71M 87M 94M 80M 95M 106M 89M 89M 90M 81M 79M 60M 144M 98M 78M 76M 76M 64M
Pre-Tax Income 331M 310M 331M 310M 256M 280M 340M 101M 219M 188M 239M 214M 199M 117M 70M 89M 93M 81M 97M 84M 68M 67M 61M 55M 53M 35M 45M 40M 40M 43M 51M 50M
Pre-Tax Margin 13.4% 11.9% 13.4% 11.9% 9.6% 12.7% 15.2% 5.4% 11.2% 9.6% 13.7% 13.9% 10.1% 7.2% 6.9% 7.9% 5.8% 4.7% 5.1% 3.8% 3.7% 3.7% 3.8% 4.4% 5.1% 4.6% 4.5% 7.1% 8.2% 7.7% 8.3% 9.0%
Income Tax Expense 60M 59M 60M 59M 39M 59M 69M 12M 35M -27M 78M 70M 62M 32M 18M 26M 29M 27M 33M 26M 25M 24M 21M 19M 19M 12M 15M 14M 14M 15M 18M 17M
Net Income 272M 251M 272M 251M 218M 221M 272M 89M 185M 214M 162M 144M 137M 85M 53M 63M 64M 54M 64M 78M 50M 49M 40M 36M 35M 22M 30M 26M 26M 28M 33M 33M
Net Income Margin 11.0% 9.7% 11.0% 9.7% 8.2% 10.0% 12.2% 4.8% 9.5% 10.9% 9.3% 9.4% 6.9% 5.2% 5.2% 5.6% 4.0% 3.1% 3.4% 3.5% 2.7% 2.7% 2.5% 2.9% 3.3% 3.0% 3.0% 4.6% 5.3% 5.0% 5.3% 5.9%
Depreciation & Amortization 298M 278M 298M 278M 255M 237M 213M 197M 182M 168M 154M 138M 131M 83M 49M 41M 40M 38M 37M 37M 38M 35M 27M 26M 26M 26M 26M 25M 22M 25M 0M 0M
EBITDA 822M 767M 822M 767M 673M 646M 663M 404M 484M 463M 495M 420M 403M 250M 146M 152M 158M 143M 162M 148M 139M 135M 116M 106M 105M 86M 170M 122M 100M 101M 76M 64M
EBITDA Margin 33.2% 29.6% 33.2% 29.6% 25.3% 29.4% 29.7% 21.8% 24.8% 23.5% 28.4% 27.3% 20.4% 15.3% 14.3% 13.5% 9.9% 8.2% 8.6% 6.7% 7.5% 7.3% 7.3% 8.5% 10.0% 11.4% 17.0% 21.6% 20.3% 18.0% 12.4% 11.5%
NOPAT 430M 396M 430M 396M 355M 322M 360M 181M 255M 336M 230M 190M 187M 120M 72M 78M 81M 70M 83M 77M 63M 65M 59M 53M 51M 39M 97M 63M 51M 50M 49M 42M
NOPAT Margin 17.3% 15.3% 17.3% 15.3% 13.3% 14.7% 16.1% 9.8% 13.0% 17.1% 13.2% 12.4% 9.5% 7.4% 7.1% 6.9% 5.1% 4.0% 4.4% 3.5% 3.4% 3.5% 3.7% 4.2% 4.9% 5.1% 9.6% 11.2% 10.3% 8.9% 8.0% 7.5%
Owner's Earnings -333M -332M -353M -332M -190M -94M -140M -353M -457M -117M -122M -12M -22M -3M -29M -5M 36M 35M 49M 58M 29M 21M 7M 10M 9M -4M 10M -1M -1M 6M -10M -8M
Owner's Earnings Margin -13.4% -12.8% -14.2% -12.8% -7.1% -4.3% -6.3% -19.0% -23.4% -5.9% -7.0% -0.8% -1.1% -0.2% -2.8% -0.4% 2.2% 2.0% 2.6% 2.6% 1.6% 1.1% 0.4% 0.8% 0.9% -0.6% 1.0% -0.1% -0.2% 1.1% -1.7% -1.5%
EPS (Basic) 4.41 4.32 4.39 4.20 3.86 3.96 4.97 1.44 3.53 4.36 3.45 3.27 3.17 2.36 2.04 2.81 2.89 2.46 2.93 3.60 2.32 2.31 1.91 1.86 1.82 1.19 1.61 1.38 1.44 1.59 1.85 1.88
EPS (Diluted) 4.63 4.46 4.63 4.46 4.13 4.24 5.26 1.73 3.63 4.34 3.44 3.26 3.16 2.36 2.03 2.81 2.88 2.45 2.93 3.58 2.31 2.30 1.91 1.86 1.82 1.19 1.61 1.38 1.44 1.59 1.85 1.88
Shares (Basic) 58M 56M 59M 56M 53M 52M 52M 51M 51M 49M 47M 44M 43M 36M 26M 22M 22M 22M 22M 22M 21M 21M 21M 19M 19M 19M 19M 19M 18M 18M 18M 17M
Shares (Diluted) 59M 56M 59M 56M 53M 52M 52M 51M 51M 49M 47M 44M 43M 36M 26M 22M 22M 22M 22M 22M 22M 21M 21M 19M 19M 19M 19M 19M 18M 18M 18M 17M

Balance Sheet

Metric MRQ MRQ-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30 2015-09-30 2014-09-30 2013-09-30 2012-09-30 2011-09-30 2010-09-30 2009-09-30 2008-09-30 2007-09-30 2006-09-30 2005-09-30 2004-09-30 2003-09-30 2002-09-30 2001-09-30 2000-09-30 1999-09-30 1998-09-30 1997-09-30 1996-09-30
Cash & Cash Equivalents 5.70M 13.10M 5.70M 4.50M 5.60M 6.50M 4.30M 4.10M 5.80M 4.40M 7.40M 5.20M 13.80M 16.10M 52.98M 27.46M 43.28M 86.92M 74.59M 14.90M 52.75M 50.78M 6.01M 13.85M 7.29M 12.87M 3.22M 4.22M 9.40M 3.70M 4.50M 4.40M
Short-Term Investments 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 17.18M 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
Cash & Short-Term Investments 5.70M 13.10M 5.70M 4.50M 5.60M 6.50M 4.30M 4.10M 5.80M 4.40M 7.40M 5.20M 13.80M 16.10M 52.98M 27.46M 43.28M 86.92M 91.77M 14.90M 52.75M 50.78M 6.01M 13.85M 7.29M 12.87M 3.22M 4.22M 9.40M 3.70M 4.50M 4.40M
Net Receivables 329.40M 376.30M 329.40M 289.40M 310.50M 644.00M 605.50M 263.30M 293.90M 303.70M 276.70M 232.00M 230.50M 234.90M 190.10M 156.22M 155.17M 150.55M 148.34M 198.96M 177.67M 163.14M 156.64M 117.68M 104.33M 89.48M 78.49M 55.21M 42.00M 46.10M 47.90M 45.60M
Inventory 282.50M 224.90M 282.50M 263.90M 279.50M 422.30M 305.00M 191.50M 196.60M 210.30M 225.80M 202.30M 215.40M 270.20M 199.15M 106.47M 128.36M 133.07M 117.32M 231.48M 163.20M 162.83M 184.61M 152.30M 138.43M 96.20M 96.27M 112.48M 81.50M 73.40M 75.00M 77.00M
Other Current Assets 190.10M 165.80M 190.10M 213.50M 481.30M 519.20M 401.70M 131.70M 118.20M 141.20M 215.60M 130.10M 70.40M 104.80M 33.70M 52.87M 34.57M 33.37M 28.54M 43.10M 42.67M 63.98M 56.54M 53.80M 37.83M 23.81M 12.56M 20.70M 12.50M 12.80M 11.90M 6.40M
Total Current Assets 807.70M 780.10M 807.70M 771.30M 1,076.90M 1,592.00M 1,316.50M 590.60M 614.50M 659.60M 725.50M 569.60M 530.10M 626.00M 475.93M 343.02M 361.38M 403.91M 385.96M 488.44M 436.28M 440.73M 403.80M 337.64M 287.89M 222.36M 190.54M 192.60M 145.40M 136.00M 139.30M 133.40M
Property, Plant & Equipment 7,822.90M 7,675.60M 7,822.90M 7,261.70M 6,478.00M 5,935.50M 5,587.20M 5,177.50M 4,352.00M 4,145.00M 3,717.20M 3,300.90M 2,941.20M 2,768.90M 1,784.32M 1,025.34M 933.27M 884.08M 859.99M 826.99M 805.06M 777.19M 691.24M 646.88M 621.25M 641.36M 602.53M 575.38M 545.50M 524.40M 497.30M 476.40M
Goodwill 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,171.60M 1,164.90M 946.00M 937.80M 247.08M 0.00M 0.00M 0.00M 0.00M 0.00M 33.60M 33.60M 156.64M 117.68M 104.33M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible 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 0.00M 0.00M 0.00M 89.48M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 130.10M 125.40M 130.10M 115.30M 108.10M 90.90M 83.10M 71.70M 550.10M 68.70M 64.20M 62.10M 59.90M 60.00M 58.31M 50.78M 50.79M 50.23M 44.97M 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
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 767.60M 669.80M 791.10M 838.00M 737.60M 637.40M 545.95M 0.00M 8,405.00M 155.00M 256.20M 11.67M 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 Non-Current Assets 1,643.00M 1,643.60M 1,643.00M 1,540.80M 1,479.00M 1,293.70M 1,198.00M 1,229.80M 163.40M 128.90M 77.10M 141.90M 75.40M 65.00M 13.85M 461.13M 429.89M 491.69M 488.27M 372.09M 335.16M 299.53M 241.58M 252.66M 264.14M 190.70M 182.84M 163.77M 140.70M 110.70M 84.10M 79.60M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 10,767.60M 10,616.20M 10,767.60M 10,089.40M 9,236.70M 8,491.70M 8,039.90M 7,650.60M 7,004.70M 6,184.00M 5,821.20M 5,507.80M 4,760.10M 4,469.10M 2,649.51M 1,537.25M 9,818.95M 1,581.00M 1,649.43M 1,210.75M 1,173.82M 1,110.31M 1,089.47M 1,017.22M 989.72M 921.54M 785.37M 739.14M 686.20M 635.10M 581.40M 556.00M
Total Assets 11,575.30M 11,396.30M 11,575.30M 10,860.70M 10,313.60M 10,083.70M 9,356.40M 8,241.20M 7,619.20M 6,843.60M 6,546.70M 6,077.40M 5,290.20M 5,095.10M 3,125.44M 1,880.26M 10,180.32M 1,984.91M 2,035.39M 1,699.19M 1,610.10M 1,551.04M 1,493.27M 1,354.85M 1,277.61M 1,143.90M 975.91M 931.74M 831.60M 771.10M 720.70M 689.40M
Accounts Payable 248.30M 240.20M 248.30M 237.20M 253.10M 617.40M 409.90M 243.30M 301.50M 290.10M 257.10M 210.90M 146.50M 176.70M 140.20M 89.50M 96.56M 95.60M 72.77M 159.58M 106.83M 103.27M 138.40M 68.37M 66.00M 45.71M 32.09M 45.66M 31.72M 20.70M 29.60M 20.60M
Short-Term Debt 1,810.60M 1,402.00M 1,810.60M 995.60M 1,118.90M 1,325.20M 734.30M 714.90M 783.20M 729.10M 577.30M 648.70M 418.00M 287.10M 74.00M 65.10M 46.00M 154.65M 129.80M 216.06M 251.56M 207.46M 110.67M 96.53M 218.20M 186.67M 117.05M 127.00M 84.70M 98.50M 99.00M 59.60M
Tax Payables 0.00M 0.00M 0.00M 105.20M 104.10M 90.10M 78.80M 71.40M 68.50M 65.40M 61.00M 55.20M 51.70M 63.40M 32.90M 11.30M 11.90M 10.50M 15.95M 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
Deferred Revenue 58.10M 29.40M 58.10M 78.30M 20.90M 18.70M 32.10M 45.30M 68.20M 58.20M 32.00M 70.20M 76.40M 66.20M 38.80M 33.71M 25.28M 16.81M 21.14M 25.55M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -117.05M -127.00M -84.70M 64.30M -99.00M 66.20M
Other Current Liabilities 431.60M 414.90M 431.60M 287.60M 258.40M 302.20M 353.20M 374.30M 283.00M 214.40M 170.50M 246.50M 193.30M 255.60M 106.08M 86.22M 77.47M 73.18M 59.48M 103.56M 115.28M 120.15M 116.49M 97.74M 82.08M 104.42M 68.56M 58.44M 56.98M 64.50M 55.80M -0.20M
Total Current Liabilities 2,548.60M 2,086.50M 2,548.60M 1,703.90M 1,755.40M 2,353.60M 1,608.30M 1,449.20M 1,504.40M 1,357.20M 1,097.90M 1,231.50M 885.90M 849.00M 391.98M 285.84M 257.21M 350.73M 299.14M 504.75M 473.67M 430.88M 365.56M 262.63M 366.28M 336.80M 100.65M 104.10M 88.70M 248.00M 85.40M 146.20M
Long-Term Debt 3,428.50M 3,498.40M 3,428.50M 3,767.10M 3,624.20M 3,032.20M 2,992.80M 2,482.10M 2,082.60M 1,900.10M 1,995.00M 1,833.70M 1,771.50M 1,851.00M 912.70M 339.42M 100.32M 364.30M 142.33M 389.18M 355.52M 395.44M 340.43M 380.34M 306.03M 259.55M 284.46M 234.41M 204.32M 179.20M 154.40M 179.30M
Capital Lease Obligations 59.10M 0.00M 59.10M 69.30M 70.20M 73.70M 53.70M 58.40M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -264.04M 0.00M -246.91M 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
Deferred Tax Liabilities 887.40M 900.40M 887.40M 808.40M 743.70M 675.10M 612.30M 511.40M 451.40M 435.80M 707.50M 607.30M 482.10M 383.80M 379.11M 355.51M 318.73M 295.93M 259.95M 226.73M 229.27M 236.59M 190.91M 194.64M 185.91M 163.01M 148.46M 141.21M 131.40M 109.80M 92.30M 85.80M
Other Non-Current Liabilities 1,315.30M 1,425.60M 1,315.30M 1,340.00M 1,256.50M 1,191.20M 1,475.00M 1,272.80M 1,073.40M -1,324.80M 755.00M 693.90M 609.20M 548.00M 813.23M 331.60M 30.69M 29.66M 53.51M -615.92M -584.79M -632.03M -531.35M -574.97M -491.94M -422.55M -432.92M -375.62M -335.72M -289.00M -246.70M -265.10M
Total Non-Current Liabilities 5,690.30M 5,824.40M 5,690.30M 5,984.80M 5,694.60M 4,972.20M 5,133.80M 4,324.70M 3,607.40M 1,011.10M 3,457.50M 3,134.90M 2,862.80M 2,782.80M 2,105.04M 1,026.53M 185.69M 689.89M 208.88M 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 Liabilities 8,238.90M 7,910.90M 8,238.90M 7,688.70M 7,450.00M 7,325.80M 6,742.10M 5,773.90M 5,111.80M 2,368.30M 4,555.40M 4,366.40M 3,748.70M 3,631.80M 2,497.02M 1,312.36M 442.90M 1,040.62M 508.02M 504.75M 473.67M 430.88M 365.56M 262.63M 366.28M 336.80M 100.65M 104.10M 88.70M 248.00M 85.40M 146.20M
Preferred Stock 242.00M 242.00M 242.00M 242.00M 242.00M 242.00M 242.00M 242.00M 242.00M 0.00M 0.00M 0.00M 0.00M 0.00M 70,336.00M 0.12M 0.10M 0.14M 0.17M 0.47M 0.63M 0.79M 0.95M 1.11M 1.26M 1.27M 1.59M 1.76M 2.00M 2.00M 2.00M 2.00M
Common Stock 59.00M 59.00M 59.00M 57.70M 53.20M 52.50M 51.70M 51.60M 1,556.80M 1,533.40M 1,373.00M 1,221.50M 43.30M 43.20M 32.70M 22.54M 22.43M 22.29M 22.17M 21.99M 21.65M 21.36M 21.17M 20.98M 19.08M 18.92M 20.74M 20.74M 20.70M 19.50M 19.40M 19.40M
Retained Earnings 1,087.60M 1,179.50M 1,087.60M 1,018.70M 958.00M 905.50M 843.00M 720.70M 775.50M 715.60M 615.10M 550.90M 494.20M 437.50M 420.10M 414.58M 389.30M 361.72M 342.81M 312.81M 268.76M 250.50M 231.55M 220.48M 211.61M 202.52M 205.51M 200.42M 199.80M 198.30M 193.80M 184.20M
Accumulated OCI 19.40M 20.50M 19.40M 12.10M 47.60M 47.20M 3.60M -41.20M -31.30M 6.40M 3.20M -4.20M -2.00M -1.70M -0.79M -4.12M -2.10M -7.14M -2.17M 4.44M 1.86M 3.66M -7.70M -1.61M -0.08M -0.34M -382.54M -274.86M -0.10M -343.10M -325.10M -327.80M
Minority Interest 6.10M 5.20M 6.10M 8.60M 16.50M 13.10M 9.80M 3.40M 3.40M 7.90M 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 Shareholders’ Equity 1,408.00M 1,501.00M 1,408.00M 1,330.50M 1,300.80M 1,247.20M 1,140.30M 973.10M 2,543.00M 2,255.40M 1,991.30M 1,768.20M 535.50M 479.00M 70,788.01M 433.12M 409.73M 377.02M 362.98M 339.71M 292.89M 276.30M 245.97M 240.97M 231.87M 222.37M -154.70M -51.93M 222.40M -123.30M -109.90M -122.20M
Total Equity 1,414.10M 1,506.20M 1,414.10M 1,339.10M 1,317.30M 1,260.30M 1,150.10M 976.50M 2,546.40M 2,263.30M 1,991.30M 1,768.20M 535.50M 479.00M 70,788.01M 433.12M 409.73M 377.02M 362.98M 339.71M 292.89M 276.30M 245.97M 240.97M 231.87M 222.37M -154.70M -51.93M 222.40M -123.30M -109.90M -122.20M
Total Liabilities & Equity 9,653.00M 9,417.10M 9,653.00M 9,027.80M 8,767.30M 8,586.10M 7,892.20M 6,750.40M 7,658.20M 4,631.60M 6,546.70M 6,134.60M 4,284.20M 4,110.80M 73,285.03M 1,745.48M 852.63M 1,417.64M 871.00M 844.46M 766.56M 707.18M 611.53M 503.60M 598.15M 559.16M -54.05M 52.18M 311.10M 124.70M -24.50M 24.00M
Tangible Assets 10,403.70M 10,224.70M 10,403.70M 9,689.10M 9,142.00M 8,912.10M 8,184.80M 7,069.60M 6,447.60M 5,672.00M 5,375.10M 4,912.50M 4,344.20M 4,157.30M 2,878.36M 1,880.26M 10,180.32M 1,984.91M 2,035.39M 1,699.19M 1,576.50M 1,517.45M 1,336.62M 1,237.17M 1,173.27M 1,054.42M 975.91M 931.74M 831.60M 771.10M 720.70M 689.40M
Tangible Equity 242.50M 334.60M 242.50M 167.50M 145.70M 88.70M -21.50M -195.10M 1,374.80M 1,091.70M 819.70M 603.30M -410.50M -458.80M 70,540.94M 433.12M 409.73M 377.02M 362.98M 339.71M 259.30M 242.70M 89.32M 123.28M 127.54M 132.89M -154.70M -51.93M 222.40M -123.30M -109.90M -122.20M
Tangible Book Value 242.50M 334.60M 242.50M 167.50M 145.70M 88.70M -21.50M -195.10M 1,374.80M 1,091.70M 819.70M 603.30M -410.50M -458.80M 70,540.94M 433.12M 409.73M 377.02M 362.98M 339.71M 259.30M 242.70M 89.32M 123.28M 127.54M 132.89M -154.70M -51.93M 222.40M -123.30M -109.90M -122.20M
Total Investments 130.10M 125.40M 130.10M 115.30M 108.10M 90.90M 83.10M 71.70M 550.10M 68.70M 64.20M 62.10M 59.90M 60.00M 58.31M 50.78M 50.79M 50.23M 62.15M 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 Debt 5,233.40M 4,887.30M 5,233.40M 4,758.20M 4,737.50M 4,350.90M 3,722.80M 3,192.90M 2,860.00M 2,624.80M 2,564.90M 2,477.20M 2,175.70M 2,122.00M 933.72M 377.06M 103.04M 432.03M 197.54M 590.34M 554.34M 552.12M 445.09M 463.01M 516.93M 433.35M 398.29M 357.19M 279.62M 274.00M 248.90M 234.50M

Capital Metrics

Metric MRQ MRQ-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30 2015-09-30 2014-09-30 2013-09-30 2012-09-30 2011-09-30 2010-09-30 2009-09-30 2008-09-30 2007-09-30 2006-09-30 2005-09-30 2004-09-30 2003-09-30 2002-09-30 2001-09-30 2000-09-30 1999-09-30 1998-09-30 1997-09-30 1996-09-30
Working Capital -1,740.9M -1,306.4M -1,740.9M -932.6M -678.5M -761.6M -291.8M -858.6M -854.3M -662.1M -372.4M -591.7M -323.7M -177.9M 122.7M 90.9M 137.2M 80.3M 69.6M 82.7M -6.3M 29.0M 58.6M 75.0M -78.4M -114.4M -27.2M -38.5M -28.0M -47.7M -45.1M -12.8M
Total Capital 8,628.5M 8,380.6M 8,628.5M 7,995.4M 7,660.4M 7,175.9M 6,385.3M 5,719.3M 5,408.8M 4,884.6M 4,563.6M 4,250.6M 3,763.1M 3,646.5M 2,033.0M 1,006.1M 983.7M 1,054.5M 1,036.1M 1,092.2M 1,036.0M 1,006.3M 818.6M 833.9M 823.2M 733.2M 691.2M 646.2M 573.3M 536.5M 505.8M 481.7M
Capital Employed 9,026.7M 9,309.8M 9,026.7M 9,156.8M 8,558.2M 7,730.1M 7,748.1M 6,792.0M 6,150.4M 5,521.9M 5,448.8M 4,916.1M 4,436.4M 4,291.2M 2,772.2M 1,628.1M 1,551.1M 1,506.3M 1,462.9M 1,293.5M 1,167.5M 1,139.3M 1,019.5M 1,002.7M 835.1M 745.1M 758.2M 700.6M 658.2M 587.4M 536.3M 543.2M
Invested Capital 8,622.8M 8,367.5M 8,622.8M 7,990.9M 7,654.8M 7,169.4M 6,381.0M 5,715.2M 5,403.0M 4,880.2M 4,556.2M 4,245.4M 3,749.3M 3,630.4M 1,980.0M 978.7M 940.4M 967.6M 961.5M 1,077.3M 983.3M 955.5M 812.6M 820.0M 815.9M 720.4M 688.0M 641.9M 563.9M 532.8M 501.3M 477.3M

Cash Flow Statement

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30 2015-09-30 2014-09-30 2013-09-30 2012-09-30 2011-09-30 2010-09-30 2009-09-30 2008-09-30 2007-09-30 2006-09-30 2005-09-30 2004-09-30 2003-09-30 2002-09-30 2001-09-30 2000-09-30 1999-09-30 1998-09-30 1997-09-30 1996-09-30
Net Income 134.40M 250.90M 271.70M 250.90M 217.50M 220.80M 271.70M 88.60M 184.60M 214.20M 161.60M 144.20M 136.90M 84.60M 52.76M 62.64M 63.83M 54.04M 64.25M 77.92M 49.77M 49.04M 40.13M 36.12M 34.65M 22.32M 30.47M 25.97M 26.10M 27.90M 32.50M 32.80M
Depreciation & Amortization 289.20M 278.40M 298.20M 278.40M 254.80M 237.30M 213.10M 197.30M 181.70M 168.40M 154.10M 137.50M 130.80M 83.30M 49.28M 41.34M 39.76M 37.57M 36.75M 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
Deferred Income Tax -2.90M 57.00M 57.30M 57.00M 36.90M 57.90M 67.00M 9.00M 31.80M -28.70M 77.00M 68.80M 65.50M 31.40M 22.05M 30.55M 23.89M 32.76M 17.94M 5.79M -16.14M 30.82M 0.42M 15.57M 15.41M 5.67M -3.45M 14.30M 14.50M 8.90M 8.70M -10.60M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 9.80M 6.40M 13.90M 8.80M 7.20M 5.60M 4.10M 4.50M 4.90M 4.00M 3.10M 1.90M 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 -2.80M 320.70M -62.30M 326.10M -82.00M -469.80M -319.30M 166.80M 56.80M 58.50M -108.60M -27.10M -17.20M -82.10M 38.86M -6.51M 36.28M -20.68M 105.85M -118.25M 7.24M -124.79M 35.19M 6.60M -85.21M 28.77M -13.80M -62.20M -20.00M -12.60M -12.30M -6.50M
Accounts Receivable -38.40M 12.70M -38.40M 12.70M 334.20M -26.50M -343.00M 36.20M 2.70M -32.70M -63.00M -12.30M -4.80M -5.30M -0.65M -9.36M 3.11M -7.59M 78.96M 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
Inventory -18.60M 15.80M -18.60M 15.80M 142.80M -117.20M -111.00M 2.60M 13.60M 15.50M -23.50M 16.50M 54.80M -15.50M -30.63M 22.44M -1.59M -20.26M 102.87M 0.00M -0.78M 22.17M 0.00M 0.00M -40.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 47.50M -25.10M 47.50M -25.10M -389.20M 190.70M 177.70M -43.10M -6.40M 12.60M 51.10M 30.00M -30.00M 8.60M 35.45M -8.79M -4.86M 22.46M -86.18M 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 Working Capital -2.80M 317.30M -52.80M 322.70M -169.80M -516.80M -43.00M 171.10M 46.90M 63.10M -73.20M -61.30M -37.20M -69.90M 34.69M -10.80M 39.63M -15.28M 10.20M -118.25M 8.02M -146.96M 35.19M 6.60M -45.10M 28.77M -13.80M -62.20M -20.00M -12.60M -12.30M -6.50M
Other Non-Cash Items 160.10M 5.40M 13.10M 0.00M 3.20M 2.40M 3.40M -0.60M -11.20M 44.20M 4.20M 4.90M 6.40M 5.40M 0.96M 0.08M 3.43M 56.93M 3.68M -1.99M 40.43M 36.72M 27.35M 25.83M 26.12M 27.09M 24.68M 24.99M 22.50M 24.70M 25.20M 25.60M
Net Cash from Operating Activities 578.00M 912.40M 578.00M 912.40M 440.20M 55.00M 249.80M 469.90M 450.90M 456.60M 288.30M 328.30M 322.40M 122.60M 163.91M 128.10M 167.19M 106.92M 228.75M -36.53M 81.29M -8.22M 103.09M 84.12M -9.03M 83.84M 37.90M 3.05M 43.10M 48.90M 54.10M 41.30M
Capital Expenditures (PPE) -902.90M -861.30M -922.40M -861.30M -662.50M -552.20M -624.80M -638.40M -823.30M -499.40M -438.10M -293.30M -289.80M -171.00M -130.79M -108.84M -67.64M -57.00M -52.38M -56.62M -58.87M -63.42M -60.20M -51.31M -51.11M -53.00M -46.95M -51.64M -48.70M -47.30M -42.80M -41.20M
Acquisitions (Net) 0.00M 1.50M 0.00M -175.90M -37.00M 0.00M 0.00M 0.00M -7.90M -28.10M 3.80M -317.70M -8.20M -1,270.30M -975.00M 0.00M 0.00M 0.00M 0.00M 84.00M 0.00M -6.00M 0.00M 0.00M 0.00M -38.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments 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 -1.39M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -2.80M 0.00M
Sales / Maturities of Investments 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 0.13M -84.00M 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 -13.50M -167.40M 6.00M 10.00M 4.00M 5.50M 2.80M 6.80M -7.10M -4.20M 0.80M -1.70M -0.70M 3.70M -2.51M 3.44M 0.63M -3.78M 0.00M 84.95M 0.15M -3.01M -1.19M -0.34M -0.41M -3.02M -6.47M -3.33M 0.00M -5.50M 0.00M -3.10M
Net Cash from Investing Activities -916.40M -1,027.20M -916.40M -1,027.20M -695.50M -546.70M -622.00M -631.60M -838.30M -531.70M -433.50M -612.70M -298.70M -1,437.60M -1,108.30M -105.40M -67.01M -60.77M -52.25M 26.94M -58.72M -72.43M -61.39M -51.65M -51.53M -94.07M -53.42M -54.96M -48.70M -52.80M -45.60M -44.30M
Net Debt Issuance 0.00M 29.90M 478.00M 29.90M 391.80M 609.70M 537.70M 267.80M 235.50M 46.30M 104.80M 225.70M 51.00M 886.90M 582.65M -5.90M -109.20M 0.21M -85.45M -1.90M 4.10M 151.70M -25.78M -46.82M 76.53M 44.62M 40.05M 72.30M 11.20M 24.50M 14.40M 25.10M
Long-Term Debt Issuance 0.00M 38.40M 108.00M 38.40M 473.80M 244.20M 513.70M 363.00M 45.90M -30.00M 26.20M 165.00M 0.20M 688.80M 550.00M 0.00M -25.00M 0.00M 0.65M -6.40M 4.10M 15.00M -25.00M 100.00M 76.53M 44.62M 40.05M 72.30M 11.20M 24.50M 14.40M 25.10M
Short-Term Debt Issuance 0.00M -8.50M 370.00M -8.50M -82.00M 365.50M 24.00M -95.20M 189.60M 76.30M 78.60M 60.70M 50.80M 198.10M 32.65M -5.90M -84.20M 0.21M -86.10M 4.50M 0.00M 136.70M -0.78M -146.82M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 287.00M 76.20M 287.00M 41.90M 51.90M 1.00M 41.10M 261.50M 154.70M 146.90M 137.10M 3.10M 460.00M 431.68M 4.30M 2.55M 1.81M 2.48M 8.22M 6.41M 4.13M 5.13M 49.49M 3.95M 0.61M -0.14M -0.14M 24.10M 1.80M 0.00M 3.00M
Common Stock Issuance 76.20M 287.00M 76.20M 287.00M 41.90M 51.90M 1.00M 41.10M 19.50M 154.70M 146.90M 137.10M 3.10M 460.00M 431.70M 4.30M 2.55M 1.81M 3.67M 8.80M 6.57M 4.19M 5.38M 49.50M 3.95M 1.01M 0.00M 0.00M 24.10M 1.80M 0.00M 3.00M
Common Stock Repurchased 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 -0.57M -0.58M -0.16M -0.06M -0.24M -0.01M -0.01M -0.40M -0.14M -0.14M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 242.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.02M 0.00M 0.00M 0.00M -0.63M -0.16M 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 -182.20M -181.90M -197.00M -181.90M -165.50M -156.70M -148.00M -142.80M -122.40M -108.70M -96.20M -85.20M -79.00M -61.90M -42.52M -36.90M -35.82M -34.85M -33.81M -32.43M -31.19M -29.81M -28.90M -26.49M -25.50M -25.37M -25.38M -25.39M -24.00M -23.20M -22.70M -22.00M
Common Dividends Paid -3.70M -167.10M -182.20M -167.10M -150.70M -141.90M -133.20M -128.00M -119.00M -108.70M -96.20M -85.20M -79.00M -61.90M -42.52M -36.90M -35.82M -34.85M -33.81M -32.43M -31.19M -29.81M -28.90M -26.49M -25.50M -25.37M -25.38M -25.39M -24.00M -23.20M -22.70M -22.00M
Preferred Dividends Paid 3.70M -14.80M -14.80M -14.80M -14.80M -14.80M -14.80M -14.80M -3.40M 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 -0.01M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 526.90M -11.10M -12.50M -11.10M -7.60M -4.00M -11.30M -6.10M -2.80M -3.20M -8.10M -1.80M -1.10M -6.90M -1.90M 0.00M -1.36M -0.98M -0.03M -2.14M 0.08M -0.60M 0.00M -2.08M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.30M
Net Cash from Financing Activities 344.70M 123.90M 344.70M 123.90M 260.60M 500.90M 379.40M 160.00M 371.80M 89.10M 147.40M 275.80M -26.00M 1,278.10M 969.91M -38.52M -143.82M -33.81M -116.81M -28.26M -20.61M 125.41M -49.54M -25.91M 54.98M 19.87M 14.53M 46.78M 11.30M 3.10M -8.30M 5.80M
Effect of FX on Cash -4.20M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.10M 0.00M
Net Change in Cash 2.10M 9.10M 6.30M 9.10M 5.30M 9.20M 7.20M -1.70M -15.60M 14.00M 2.20M -8.60M -2.30M -36.90M 25.52M -15.82M -43.64M 12.33M 59.69M -37.85M 1.97M 44.77M -7.84M 6.56M -5.58M 9.65M -0.99M -5.14M 5.70M -0.80M 0.10M 2.80M
Cash at Beginning of Period 140.10M 131.20M 34.90M 25.80M 20.50M 11.30M 4.10M 5.80M 21.40M 7.40M 5.20M 13.80M 16.10M 53.00M 27.46M 43.28M 86.92M 74.59M 14.90M 52.75M 50.78M 6.01M 13.85M 7.29M 12.87M 3.22M 4.22M 9.35M 3.70M 4.50M 4.40M 1.60M
Cash at End of Period 142.20M 140.30M 41.20M 34.90M 25.80M 20.50M 11.30M 4.10M 5.80M 21.40M 7.40M 5.20M 13.80M 16.10M 52.98M 27.46M 43.28M 86.92M 74.59M 14.90M 52.75M 50.78M 6.01M 13.85M 7.29M 12.87M 3.22M 4.22M 9.40M 3.70M 4.50M 4.40M
Operating Cash Flow 578.00M 912.40M 578.00M 912.40M 440.20M 55.00M 249.80M 469.90M 450.90M 456.60M 288.30M 328.30M 322.40M 122.60M 163.91M 128.10M 167.19M 106.92M 228.75M -36.53M 81.29M -8.22M 103.09M 84.12M -9.03M 83.84M 37.90M 3.05M 43.10M 48.90M 54.10M 41.30M
Capital Expenditure -902.90M -861.30M -922.40M -861.30M -662.50M -552.20M -624.80M -638.40M -823.30M -499.40M -438.10M -293.30M -289.80M -171.00M -130.79M -108.84M -67.64M -57.00M -52.38M -56.62M -58.87M -63.42M -60.20M -51.31M -51.11M -53.00M -46.95M -51.64M -48.70M -47.30M -42.80M -41.20M
Free Cash Flow -324.90M 51.10M -344.40M 51.10M -222.30M -497.20M -375.00M -168.50M -372.40M -42.80M -149.80M 35.00M 32.60M -48.40M 33.13M 19.26M 99.55M 49.92M 176.37M -93.15M 22.42M -71.63M 42.89M 32.81M -60.14M 30.85M -9.05M -48.59M -5.60M 1.60M 11.30M 0.10M

Free Cash Flow

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30 2015-09-30 2014-09-30 2013-09-30 2012-09-30 2011-09-30 2010-09-30 2009-09-30 2008-09-30 2007-09-30 2006-09-30 2005-09-30 2004-09-30 2003-09-30 2002-09-30 2001-09-30 2000-09-30 1999-09-30 1998-09-30 1997-09-30 1996-09-30
EBITDA 1,404.40M 1,260.70M 2,232.50M 1,260.70M 1,142.70M 1,062.30M 1,036.50M 898.00M 819.70M 784.40M 786.30M 681.90M 675.30M 444.10M 254.20M 246.30M 267.62M 389.10M 445.20M 427.63M 397.28M 385.86M 946.75M 700.20M 592.20M 441.42M 382.77M 295.74M 266.47M 275.34M 257.90M 248.10M
(-) Tax Adjustment 253.00M 239.03M 402.17M 239.03M 172.99M 223.70M 208.70M 110.25M 129.07M 0.00M 255.09M 221.77M 210.97M 122.71M 63.47M 72.83M 83.97M 129.94M 149.56M 133.72M 139.05M 135.05M 322.82M 243.56M 207.24M 154.50M 125.31M 103.51M 93.26M 94.75M 90.27M 85.67M
(-) Change In Working Capital -2.80M 320.70M -62.30M 326.10M -82.00M -469.80M -319.30M 166.80M 56.80M 58.50M -108.60M -27.10M -17.20M -82.10M 38.86M -6.51M 36.28M -20.68M 105.85M -118.25M 7.24M -124.79M 35.19M 6.60M -85.21M 28.77M -13.80M -62.20M -20.00M -12.60M -12.30M -6.50M
(-) Capital Expenditure -902.90M -861.30M -922.40M -861.30M -662.50M -552.20M -624.80M -638.40M -823.30M -499.40M -438.10M -293.30M -289.80M -171.00M -130.79M -108.84M -67.64M -57.00M -52.38M -56.62M -58.87M -63.42M -60.20M -51.31M -51.11M -53.00M -46.95M -51.64M -48.70M -47.30M -42.80M -41.20M
Unlevered Free Cash Flow 251.30M -160.33M 970.23M -165.73M 389.21M 756.20M 522.30M -17.45M -189.47M 226.50M 201.71M 193.93M 191.73M 232.49M 21.08M 71.13M 79.73M 222.85M 137.41M 355.53M 192.13M 312.19M 528.53M 398.73M 419.05M 205.15M 224.31M 202.80M 144.50M 145.89M 137.14M 127.73M
(-) Net Interest Income After Taxes -167.33M -162.97M -167.33M -162.97M -157.59M -94.57M -85.14M -92.55M -87.96M -98.40M -60.19M -52.09M -51.29M -33.43M -19.22M -16.65M -16.66M -16.72M -19.75M -3.38M -7.25M -6.68M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance 0.00M 29.90M 478.00M 29.90M 391.80M 609.70M 537.70M 267.80M 235.50M 46.30M 104.80M 225.70M 51.00M 886.90M 582.65M -5.90M -109.20M 0.21M -85.45M -1.90M 4.10M 151.70M -25.78M -46.82M 76.53M 44.62M 40.05M 72.30M 11.20M 24.50M 14.40M 25.10M
Levered Free Cash Flow 418.64M 32.54M 1,615.56M 27.14M 938.60M 1,460.47M 1,145.13M 342.90M 133.99M 371.20M 366.71M 471.72M 294.03M 1,152.83M 622.94M 81.88M -12.80M 239.78M 71.72M 357.01M 203.48M 470.56M 502.76M 351.91M 495.58M 249.77M 264.36M 275.10M 155.70M 170.39M 151.54M 152.83M