Loading...
Definitive Analysis

Financial Statements

Company Industry Sector

Periods / Units / Analysis

Fundamentals

Margins Returns Growth Rates Metrics/Ratios

Valuations

Projections DCF DDM EPV Multiples Valuations

Miscellaneous

Indicators Charts WACC Beta Predictability

Ticker

Industry

Sector

Page: Company Financials

Telefónica, S.A.

Ticker: TEF.MC | Industry: Telecommunications Services | Sector: Communication Services
$3.35 -0.04 (-1.18%)
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 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Stock Price 4.41 4.10 3.77 4.01 3.92 3.65 7.00 7.37 9.23 9.04 11.77 11.91 10.86 10.69 15.41 16.79 17.18 16.74 18.41 13.78 13.05 12.10 9.73 8.93 13.53 19.41 21.10 21.10 21.10 21.10 21.10
Market Capitalization 24,830.98M 23,089.49M 20,725.34M 23,411.38M 22,800.16M 19,426.86M 36,085.98M 37,785.99M 47,121.20M 45,413.15M 57,886.70M 54,844.15M 49,093.98M 48,092.57M 70,084.75M 75,922.50M 78,102.90M 77,628.05M 87,535.67M 65,826.75M 63,776.03M 62,347.95M 50,371.64M 46,630.38M 69,132.59M 83,185.56M 81,464.63M 69,695.75M 75,643.39M 72,733.99M 72,734.06M
(-) Cash & Equivalents 6,782.00M 6,511.50M 7,399.25M 7,254.25M 9,458.25M 5,838.25M 7,691.00M 5,078.50M 5,581.25M 3,144.50M 3,361.75M 8,952.50M 8,319.75M 6,675.50M 4,047.50M 5,778.75M 7,266.75M 4,745.25M 4,741.10M 4,228.28M 1,845.43M 644.98M 1,121.93M 581.16M 617.58M 534.93M 86.69M 109.49M 252.73M 364.40M 256.82M
(+) Total Debt 7,669.00M 28,751.50M 19,935.00M 18,710.25M 7,268.50M 5,738.00M 19,731.75M 55,340.75M 59,311.75M 61,409.25M 61,017.75M 58,835.50M 62,195.75M 67,296.25M 61,917.75M 61,126.25M 55,731.50M 52,827.75M 55,613.79M 60,632.55M 31,543.12M 20,800.91M 23,211.54M 29,141.46M 31,841.83M 23,970.39M 14,693.25M 18,823.30M 9,647.78M 12,360.11M 5,836.73M
Enterprise Value 25,717.98M 45,329.49M 33,261.09M 34,867.38M 20,610.41M 19,326.61M 48,126.73M 88,048.24M 100,851.70M 103,677.90M 115,542.70M 104,727.15M 102,969.98M 108,713.32M 127,955.00M 131,270.00M 126,567.65M 125,710.55M 138,408.36M 122,231.01M 93,473.72M 82,503.88M 72,461.24M 75,190.67M 100,356.83M 106,621.02M 96,071.19M 88,409.56M 85,038.45M 84,729.69M 78,313.96M

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 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Revenue 38,270M 40,571M 41,315M 40,652M 39,993M 39,277M 43,076M 48,422M 48,693M 52,008M 52,036M 47,219M 50,377M 57,061M 62,356M 64,944M 66,606M 58,376M 57,946M 56,441M 52,901M 37,853M 31,188M 29,033M 29,187M 31,946M 29,750M 23,024M 17,459M 14,183M 12,284M 11,150M
Cost of Revenue 6,227M 29,586M 12,557M 20,418M 12,941M 12,258M 13,014M 13,635M 14,013M 15,022M 15,242M 12,910M 15,182M 17,041M 18,074M 18,256M 17,606M 35,773M 17,818M 17,907M 16,629M 18,354M 7,553M 6,266M 6,954M 7,184M 11,967M 4,570M 2,935M 3,917M 2,789M 1,781M
Gross Profit 32,043M 10,985M 28,758M 20,234M 27,052M 27,019M 30,062M 34,787M 34,680M 36,986M 36,794M 34,309M 35,195M 40,020M 44,282M 46,688M 49,000M 22,603M 40,128M 38,534M 36,272M 19,498M 23,635M 22,767M 22,234M 24,762M 17,783M 18,454M 14,524M 10,266M 9,494M 9,369M
Gross Profit Margin 83.7% 27.1% 69.6% 49.8% 67.6% 68.8% 69.8% 71.8% 71.2% 71.1% 70.7% 72.7% 69.9% 70.1% 71.0% 71.9% 73.6% 38.7% 69.3% 68.3% 68.6% 51.5% 75.8% 78.4% 76.2% 77.5% 59.8% 80.1% 83.2% 72.4% 77.3% 84.0%
R&D Expenses 0M 427M 647M 741M 656M 835M 959M 866M 947M 862M 906M 1,055M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 10,510M 46M 179M 7,275M 5,610M 6,813M 5,369M 8,066M 6,332M 9,142M 10,430M 9,800M 9,363M 8,659M 11,256M 11,080M 8,409M 8,966M 6,762M 11,029M 18,717M 5,652M 4,832M 5,053M 10,416M 6,415M 5,871M 7,961M 5,842M 3,426M 3,559M 3,482M
Operating Expenses 29,390M 17,892M 26,363M 25,564M 35,813M 25,224M 38,002M 31,147M 28,177M 30,330M 31,583M 31,955M 28,741M 30,570M 32,778M 36,624M 32,526M 8,956M 44,073M 22,408M 26,850M 10,946M 16,405M 16,450M 17,202M 19,330M 12,215M 14,733M 10,645M 7,276M 6,996M 6,872M
Operating Income (EBIT) 2,653M -6,907M 2,395M -5,330M -8,761M 1,795M -7,940M 3,640M 6,503M 6,656M 5,211M 2,354M 6,454M 9,450M 11,504M 10,064M 16,474M 13,647M -3,945M 16,126M 9,422M 8,553M 7,230M 6,317M 5,032M 5,432M 5,569M 3,721M 3,879M 2,990M 2,498M 2,497M
Operating Income Margin 6.9% -17.0% 5.8% -13.1% -21.9% 4.6% -18.4% 7.5% 13.4% 12.8% 10.0% 5.0% 12.8% 16.6% 18.4% 15.5% 24.7% 23.4% -6.8% 28.6% 17.8% 22.6% 23.2% 21.8% 17.2% 17.0% 18.7% 16.2% 22.2% 21.1% 20.3% 22.4%
Interest Income 0M 0M 980M 1,099M 1,803M 614M 677M 842M 1,458M 1,073M 1,770M 2,090M 992M 933M 963M 827M 792M 3,899M 7,016M 703M 1,143M 792M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 1,685M 812M 2,998M 3,014M 3,030M 2,028M 2,417M 2,795M 2,690M 3,363M 4,476M 4,400M 3,511M 3,629M 4,025M 3,609M 3,329M 7,206M 9,813M 3,554M 3,877M 2,420M 0M 0M 1,589M 1,608M 0M 0M 0M 0M 0M 0M
Net Interest Income -1,685M -812M -2,018M -1,915M -1,227M -1,414M -1,740M -1,953M -1,232M -2,290M -2,706M -2,310M -2,519M -2,696M -3,062M -2,782M -2,537M -3,307M -2,797M -2,851M -2,734M -1,628M 0M 0M -1,589M -1,608M 0M 0M 0M 0M 0M 0M
Unusual Items -421M 8,230M 180M 5,772M 12,948M 11,714M 12,263M 1,031M 300M 231M 740M 267M -300M -474M -2,578M -794M -36M 47M 17,657M -2,591M 76M -134M -2,836M -2,960M -18,044M -2,060M -2,822M -1,734M -2,020M -1,408M -1,168M -1,392M
EBT Excluding Unusual Items 968M -7,719M 377M -7,245M -9,988M 381M -9,680M 1,687M 5,271M 4,366M 2,505M 44M 3,935M 6,754M 8,442M 7,282M 13,937M 10,340M -6,742M 13,275M 6,688M 6,925M 7,230M 6,317M 3,442M 3,823M 5,569M 3,721M 3,879M 2,990M 2,498M 2,497M
Pre-Tax Income 547M 511M 557M -1,473M 2,960M 12,095M 2,583M 2,718M 5,571M 4,597M 3,245M 311M 3,635M 6,280M 5,864M 6,488M 13,901M 10,387M 10,915M 10,684M 6,764M 6,791M 4,394M 3,357M -14,601M 1,763M 2,747M 1,987M 1,859M 1,582M 1,330M 1,106M
Pre-Tax Margin 1.4% 1.3% 1.3% -3.6% 7.4% 30.8% 6.0% 5.6% 11.4% 8.8% 6.2% 0.7% 7.2% 11.0% 9.4% 10.0% 20.9% 17.8% 18.8% 18.9% 12.8% 17.9% 14.1% 11.6% -50.0% 5.5% 9.2% 8.6% 10.6% 11.2% 10.8% 9.9%
Income Tax Expense 526M -517M 348M -899M 641M 1,378M 626M 1,054M 1,621M 1,219M 846M 13M 383M 1,311M 1,461M 301M 3,829M 2,450M 3,089M 1,565M 1,781M 1,967M 1,138M 912M -3,229M -344M 242M 177M 552M 441M 349M 252M
Net Income -2,117M -1,165M -49M -892M 2,011M 8,137M 1,582M 1,664M 3,331M 3,132M 2,369M 2,745M 3,001M 4,593M 3,928M 5,403M 10,167M 7,776M 7,826M 8,906M 6,233M 4,443M 2,875M 2,200M -5,577M 2,107M 2,505M 1,810M 1,307M 1,141M 981M 853M
Net Income Margin -5.5% -2.9% -0.1% -2.2% 5.0% 20.7% 3.7% 3.4% 6.8% 6.0% 4.6% 5.8% 6.0% 8.0% 6.3% 8.3% 15.3% 13.3% 13.5% 15.8% 11.8% 11.7% 9.2% 7.6% -19.1% 6.6% 8.4% 7.9% 7.5% 8.0% 8.0% 7.7%
Depreciation & Amortization 9,686M 8,744M 8,799M 8,797M 8,796M 8,397M 9,359M 10,582M 9,049M 9,396M 9,649M 8,517M 8,548M 9,627M 10,433M 10,146M 9,303M 8,956M 9,046M 9,436M 9,704M 6,713M 6,408M 6,707M 6,692M 7,686M 6,844M 6,322M 4,514M 3,617M 3,222M 3,213M
EBITDA 12,339M 1,837M 11,194M 3,467M 35M 10,192M 1,419M 14,222M 15,552M 16,052M 14,860M 10,871M 15,002M 19,077M 21,937M 20,210M 25,777M 22,603M 5,101M 25,562M 19,126M 15,266M 13,638M 13,023M 11,724M 13,118M 12,413M 10,042M 8,393M 6,607M 5,720M 5,710M
EBITDA Margin 32.2% 4.5% 27.1% 8.5% 0.1% 25.9% 3.3% 29.4% 31.9% 30.9% 28.6% 23.0% 29.8% 33.4% 35.2% 31.1% 38.7% 38.7% 8.8% 45.3% 36.2% 40.3% 43.7% 44.9% 40.2% 41.1% 41.7% 43.6% 48.1% 46.6% 46.6% 51.2%
NOPAT 102M -13,895M 899M -4,211M -6,864M 1,590M -6,016M 2,228M 4,611M 4,891M 3,852M 2,256M 5,774M 7,477M 8,638M 9,597M 11,936M 10,428M -2,829M 13,764M 6,941M 6,075M 5,358M 4,601M 3,975M 6,491M 5,079M 3,389M 2,727M 2,156M 1,843M 1,928M
NOPAT Margin 0.3% -34.2% 2.2% -10.4% -17.2% 4.0% -14.0% 4.6% 9.5% 9.4% 7.4% 4.8% 11.5% 13.1% 13.9% 14.8% 17.9% 17.9% -4.9% 24.4% 13.1% 16.0% 17.2% 15.8% 13.6% 20.3% 17.1% 14.7% 15.6% 15.2% 15.0% 17.3%
Owner's Earnings 1,566M 1,743M 2,960M 1,744M 5,299M 10,370M 3,921M 3,836M 3,603M 3,536M 2,831M 1,861M 2,344M 4,546M 4,880M 6,464M 10,526M 9,139M 8,983M 11,068M 9,004M 11,156M 9,283M 8,906M -3,196M 3,020M 9,349M 8,132M 5,821M 4,758M 47M 333M
Owner's Earnings Margin 4.1% 4.3% 7.2% 4.3% 13.2% 26.4% 9.1% 7.9% 7.4% 6.8% 5.4% 3.9% 4.7% 8.0% 7.8% 10.0% 15.8% 15.7% 15.5% 19.6% 17.0% 29.5% 29.8% 30.7% -11.0% 9.5% 31.4% 35.3% 33.3% 33.5% 0.4% 3.0%
EPS (Basic) -0.37 -0.22 -0.06 -0.20 0.31 1.38 0.24 0.33 0.65 0.56 0.42 0.51 0.61 1.01 0.85 1.20 2.25 1.71 1.63 1.87 1.30 0.91 0.64 0.34 -1.04 0.40 0.47 0.47 0.35 0.30 0.28 0.25
EPS (Diluted) -0.38 -0.21 -0.01 -0.16 0.35 1.42 0.29 0.32 0.64 0.61 0.47 0.56 0.65 1.01 0.85 1.20 2.25 1.71 1.63 1.87 1.30 0.91 0.56 0.34 -1.04 0.40 0.51 0.47 0.35 0.30 0.28 0.25
Shares (Basic) 5,663M 5,639M 5,636M 5,668M 5,740M 5,727M 5,471M 5,119M 5,127M 5,110M 4,909M 4,928M 4,606M 4,548M 4,604M 4,511M 4,522M 4,547M 4,801M 4,759M 4,779M 4,871M 4,969M 6,548M 5,357M 5,323M 4,892M 3,820M 3,699M 3,764M 3,447M 3,432M
Shares (Diluted) 5,637M 5,639M 5,636M 5,716M 5,763M 5,737M 5,478M 5,124M 5,192M 5,110M 5,061M 4,928M 4,606M 4,548M 4,606M 4,511M 4,528M 4,547M 4,801M 4,761M 4,779M 4,872M 5,152M 6,548M 5,357M 5,323M 4,892M 3,820M 3,699M 3,764M 3,447M 3,432M

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 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Cash & Cash Equivalents 4,392.00M 6,505.00M 8,062.00M 7,151.00M 7,245.00M 8,580.00M 5,604.00M 6,042.00M 5,692.00M 5,192.00M 3,736.00M 2,599.00M 6,529.00M 9,977.00M 9,847.00M 4,135.00M 4,220.00M 9,113.00M 4,277.00M 5,065.00M 3,792.24M 2,211.25M 854.39M 335.83M 543.91M 622.65M 765.55M 186.65M 142.99M 62.64M 296.88M 513.65M
Short-Term Investments 0.00M 1,689.00M 1,200.00M 517.00M 2,444.00M 3,835.00M 2,495.00M 3,123.00M 2,209.00M 2,154.00M 2,954.00M 2,971.00M 2,932.00M 2,117.00M 1,872.00M 2,625.00M 1,574.00M 1,906.00M 2,216.00M 1,622.00M 1,679.80M 352.92M 689.67M 133.23M 3,366.23M 2,307.39M 6,091.38M 773.36M 392.05M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 4,392.00M 8,194.00M 9,262.00M 7,668.00M 9,689.00M 12,415.00M 8,099.00M 9,165.00M 7,901.00M 7,346.00M 6,690.00M 5,570.00M 9,461.00M 12,094.00M 11,719.00M 6,760.00M 5,794.00M 11,019.00M 6,493.00M 6,687.00M 5,472.04M 2,564.17M 1,544.06M 469.06M 3,910.14M 2,930.03M 6,856.93M 960.01M 535.04M 62.64M 296.88M 513.65M
Net Receivables 9,605.00M 8,254.00M 8,963.00M 7,148.00M 6,984.00M 6,528.00M 7,226.00M 8,522.00M 8,350.00M 8,695.00M 9,246.00M 9,072.00M 11,307.00M 10,164.00M 11,530.00M 11,701.00M 12,501.00M 10,899.00M 9,595.00M 10,672.00M 10,604.00M 8,604.36M 6,930.50M 6,207.41M 6,029.15M 8,006.24M 8,523.24M 7,082.71M 5,266.97M 3,776.54M 3,096.25M 2,554.99M
Inventory 890.00M 879.00M 954.00M 929.00M 1,546.00M 0.00M 1,718.00M 1,999.00M 1,692.00M 1,117.00M 1,055.00M 1,360.00M 934.00M 985.00M 1,188.00M 1,164.00M 1,028.00M 934.00M 1,188.00M 987.00M 1,012.27M 919.45M 669.13M 400.27M 449.83M 754.14M 791.10M 477.50M 295.45M 226.18M 207.13M 186.01M
Other Current Assets 4,102.00M 2,344.00M 1,693.00M 3,560.00M 5,687.00M 5,307.00M 15,993.00M 4,491.00M 5,748.00M 3,928.00M 4,165.00M 4,324.00M 119.00M 4,882.00M 150.00M 1.00M 475.00M 9.00M 7.00M 132.00M 9.00M 1,530.73M 2,286.81M 3,194.06M 0.00M 263.86M 413.12M 1,048.47M 230.47M 842.64M 75.93M 40.63M
Total Current Assets 18,989.00M 19,671.00M 20,872.00M 19,305.00M 23,906.00M 24,250.00M 33,036.00M 24,177.00M 23,691.00M 21,086.00M 21,156.00M 20,326.00M 21,821.00M 28,125.00M 24,587.00M 19,626.00M 19,798.00M 22,861.00M 17,283.00M 18,478.00M 17,097.31M 13,618.72M 11,430.50M 10,270.79M 10,389.12M 11,954.28M 16,584.39M 9,568.68M 6,327.93M 4,908.00M 3,676.20M 3,295.28M
Property, Plant & Equipment 26,530.00M 26,333.00M 29,346.00M 31,392.00M 31,993.00M 30,304.00M 28,751.00M 39,167.00M 33,295.00M 34,225.00M 36,393.00M 30,549.00M 33,343.00M 31,040.00M 35,019.00M 35,463.00M 35,797.00M 31,999.00M 30,545.00M 32,460.00M 33,886.93M 27,971.99M 23,330.89M 24,273.34M 27,099.65M 36,620.36M 38,705.43M 35,859.76M 27,811.13M 24,896.16M 24,333.01M 23,045.79M
Goodwill 16,300.00M 16,386.00M 16,461.00M 18,708.00M 18,471.00M 16,519.00M 17,044.00M 25,403.00M 25,748.00M 26,841.00M 28,686.00M 21,745.00M 25,111.00M 23,434.00M 27,963.00M 29,107.00M 29,582.00M 19,566.00M 18,323.00M 19,770.00M 21,738.88M 0.00M 0.00M 0.00M 6,364.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 9,791.00M 9,688.00M 9,875.00M 11,370.00M 12,017.00M 11,725.00M 11,488.00M 16,034.00M 16,856.00M 18,005.00M 20,518.00M 18,562.00M 22,353.00M 18,548.00M 22,078.00M 24,064.00M 25,026.00M 15,846.00M 15,921.00M 18,320.00M 20,757.68M 16,773.91M 15,827.68M 13,703.07M 7,629.57M 26,098.31M 27,395.76M 11,246.19M 9,010.57M 3,844.00M 2,068.61M 2,337.78M
Long-Term Investments 7,729.00M 9,320.00M 9,562.00M 9,947.00M 19,688.00M 20,120.00M 1,136.00M 7,263.00M 7,177.00M 8,244.00M 9,841.00M 10,082.00M 11,761.00M 10,199.00M 11,807.00M 13,743.00M 12,623.00M 10,929.00M 10,154.00M 9,007.00M 0.00M 0.00M 0.00M 0.00M 5,103.71M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 0.00M 5,901.00M 6,673.00M 6,240.00M 4,884.00M 5,616.00M 6,416.00M 6,682.00M 7,631.00M 7,820.00M 8,229.00M 10,460.00M 6,867.00M 6,376.00M 7,308.00M 6,417.00M 5,693.00M 5,971.00M 6,980.00M 7,829.00M 8,701.31M 0.00M 0.00M 0.00M 802.28M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 13,229.00M 5,480.00M 6,216.00M 6,909.00M 0.00M 0.00M 2,886.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 2.00M 6.00M 0.00M 0.00M 0.00M 9.00M 6,183.51M 14,753.47M 12,626.87M 13,526.38M 10,468.39M 11,495.35M 9,650.80M 7,659.90M 6,391.80M 3,711.72M 3,205.76M 2,187.80M
Other Assets 0.00M 0.00M 0.00M -998.00M 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 73,579.00M 73,108.00M 78,133.00M 83,568.00M 87,053.00M 84,284.00M 67,721.00M 94,549.00M 90,707.00M 95,135.00M 103,667.00M 91,398.00M 99,435.00M 89,597.00M 104,177.00M 108,800.00M 108,721.00M 84,311.00M 81,923.00M 87,395.00M 91,268.31M 59,499.37M 51,785.44M 51,502.79M 57,467.62M 74,214.03M 75,751.99M 54,765.85M 43,213.49M 32,451.88M 29,607.39M 27,571.38M
Total Assets 92,568.00M 92,779.00M 99,005.00M 102,873.00M 110,959.00M 108,534.00M 100,757.00M 118,726.00M 114,398.00M 116,221.00M 124,823.00M 111,724.00M 121,256.00M 117,722.00M 128,764.00M 128,426.00M 128,519.00M 107,172.00M 99,206.00M 105,873.00M 108,365.62M 73,118.09M 63,215.93M 61,773.58M 67,856.74M 86,168.31M 92,336.38M 64,334.53M 49,541.42M 37,359.87M 33,283.58M 30,866.65M
Accounts Payable 0.00M 8,625.00M 7,783.00M 7,693.00M 7,545.00M 6,982.00M 5,913.00M 8,095.00M 5,067.00M 11,523.00M 11,859.00M 8,668.00M 8,770.00M 8,144.00M 8,719.00M 8,888.00M 9,038.00M 6,963.00M 7,845.00M 8,642.00M 8,450.00M 6,906.46M 5,660.96M 5,299.33M 0.00M 5,234.05M 5,934.86M 4,257.95M 2,327.85M 6,516.99M 4,085.73M 3,441.90M
Short-Term Debt 4,461.00M 0.00M 5,391.00M 3,701.00M 4,020.00M 7,005.00M 8,123.00M 9,076.00M 9,368.00M 9,134.00M 14,749.00M 12,970.00M 9,094.00M 9,527.00M 10,054.00M 10,652.00M 9,744.00M 9,184.00M 8,100.00M 6,986.00M 8,380.81M 9,229.15M 0.00M 0.00M 5,113.15M 0.00M 0.00M 2,267.53M 6,724.67M 1,704.63M 2,400.61M 1,770.63M
Tax Payables 0.00M 919.00M 1,614.00M 769.00M 1,920.00M 2,026.00M 1,732.00M 2,560.00M 2,047.00M 2,341.00M 2,332.00M 1,769.00M 2,026.00M 2,203.00M 2,522.00M 2,568.00M 2,822.00M 2,766.00M 2,275.00M 2,157.00M 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 0.00M 1,804.00M 1,710.00M 1,598.00M 1,490.00M 1,338.00M 1,286.00M 1,596.00M 1,617.00M 1,387.00M 1,569.00M 1,106.00M 1,441.00M 1,353.00M 1,612.00M 1,843.00M 1,858.00M 1,643.00M 1,308.00M 1,436.00M 1,407.03M 817.29M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 16,110.00M 8,241.00M 194.00M 6,394.00M 5,575.00M 6,368.00M 9,797.00M 7,641.00M 8,741.00M 2,668.00M 2,724.00M 10,011.00M 7,885.00M 2,193.00M 8,575.00M 8,886.00M 1,675.00M 963.00M 1,106.00M 1,275.00M 1,160.98M 4,920.64M 13,333.97M 8,107.91M 9,131.17M 12,798.68M 18,132.52M 6,961.16M 3,068.81M 308.73M 159.97M 183.12M
Total Current Liabilities 20,571.00M 19,589.00M 16,692.00M 20,155.00M 20,550.00M 23,719.00M 26,851.00M 28,968.00M 26,840.00M 27,053.00M 33,233.00M 34,524.00M 29,216.00M 23,420.00M 31,482.00M 32,837.00M 25,137.00M 21,519.00M 20,634.00M 20,496.00M 19,398.82M 21,873.54M 18,994.93M 13,407.25M 14,244.32M 18,032.73M 24,067.38M 13,486.64M 12,121.33M 8,530.36M 6,646.30M 5,395.65M
Long-Term Debt 30,743.00M 0.00M 31,327.00M 31,703.00M 35,059.00M 35,290.00M 38,129.00M 43,288.00M 45,334.00M 43,460.00M 45,612.00M 47,117.00M 50,688.00M 51,172.00M 53,410.00M 53,523.00M 53,660.00M 46,049.00M 42,839.00M 44,626.00M 48,608.00M 25,148.62M 15,136.70M 17,662.91M 20,096.69M 26,161.25M 23,293.32M 16,719.39M 13,690.22M 11,503.26M 9,821.05M 9,902.83M
Capital Lease Obligations 7,700.00M 7,546.00M 8,303.00M 8,947.00M 8,677.00M 8,070.00M 5,294.00M 7,226.00M 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
Deferred Tax Liabilities 0.00M 2,594.00M 2,905.00M 2,702.00M 3,067.00M 2,602.00M 2,620.00M 2,908.00M 2,674.00M 2,145.00M 2,395.00M 2,313.00M 2,566.00M 3,063.00M 4,788.00M 4,739.00M 6,074.00M 3,082.00M 3,576.00M 3,926.00M 4,699.95M 2,475.52M 855.19M 800.23M 1,629.46M 1,542.00M 1,388.42M 1,121.08M 0.00M 0.00M 512.77M 454.92M
Other Non-Current Liabilities 12,211.00M 39,244.00M 10,806.00M 19,362.00M 8,961.00M 9,705.00M 8,763.00M 10,227.00M 8,514.00M 13,003.00M 10,895.00M 13,432.00M 8,180.00M 7,624.00M 12,011.00M 10,928.00M 4,322.00M 7,303.00M 8,252.00M 8,907.00M 9,336.34M 7,474.68M 7,902.31M 8,533.22M 8,144.01M 7,018.82M 8,342.24M 7,834.51M 6,690.82M 3,009.09M 2,596.90M 3,196.31M
Total Non-Current Liabilities 50,654.00M 49,384.00M 53,341.00M 62,714.00M 55,764.00M 55,667.00M 54,806.00M 63,649.00M 56,522.00M 58,608.00M 58,902.00M 62,862.00M 61,434.00M 61,859.00M 70,209.00M 69,190.00M 64,056.00M 56,434.00M 54,667.00M 57,459.00M 62,644.29M 35,098.81M 23,894.20M 26,996.36M 29,870.16M 34,722.08M 33,023.98M 25,674.98M 20,381.05M 14,512.35M 12,930.72M 13,554.06M
Total Liabilities 71,225.00M 68,973.00M 70,033.00M 82,869.00M 76,314.00M 79,386.00M 81,657.00M 92,617.00M 83,362.00M 85,661.00M 92,135.00M 97,386.00M 90,650.00M 85,279.00M 101,691.00M 102,027.00M 89,193.00M 77,953.00M 75,301.00M 77,955.00M 82,043.11M 56,972.35M 42,889.12M 40,403.60M 44,114.48M 52,754.81M 57,091.36M 39,161.62M 32,502.38M 23,042.70M 19,577.03M 18,949.71M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 1,775.00M 1,771.00M 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
Common Stock 17,614.00M 5,670.00M 5,670.00M 5,750.00M 5,775.00M 5,779.00M 5,526.00M 5,192.00M 5,192.00M 5,192.00M 5,038.00M 4,975.00M 4,657.00M 4,551.00M 4,551.00M 4,564.00M 4,564.00M 4,564.00M 17,231.00M 4,773.00M 4,921.20M 4,917.26M 4,952.23M 4,947.24M 4,860.66M 4,673.22M 4,338.82M 3,272.37M 3,078.61M 0.00M 0.00M 0.00M
Retained Earnings 0.00M 19,470.00M 22,569.00M 24,845.00M 27,668.00M 26,155.00M 20,084.00M 13,378.00M 14,885.00M 18,225.00M 17,093.00M 20,604.00M 22,636.00M 22,517.00M 19,453.00M 19,248.00M 19,971.00M 16,685.00M 16,700.00M 13,801.00M 5,850.88M 4,684.23M 2,875.16M 2,199.73M 0.00M 0.00M 2,503.20M 4,796.02M 1,307.21M 2,746.18M 7,491.47M 6,224.93M
Accumulated OCI 0.00M -18,764.00M -19,740.00M -19,615.00M -19,388.00M -20,963.00M -18,437.00M -13,491.00M -13,522.00M -17,902.00M -13,555.00M -16,098.00M -11,427.00M -8,234.00M -3,208.00M -861.00M 830.00M 572.00M -2,455.00M 1,261.00M 3,865.73M 1,452.21M 3,101.97M 1,607.14M 0.00M 9,522.89M 8,095.22M 3,882.65M 6,541.27M 0.00M 0.00M 0.00M
Minority Interest 3,729.00M 3,691.00M 3,402.00M 5,244.00M 6,620.00M 6,477.00M 7,025.00M 8,332.00M 9,033.00M 9,698.00M 10,228.00M 9,665.00M 9,174.00M 6,297.00M 7,200.00M 5,747.00M 7,232.00M 2,540.00M 2,331.00M 2,730.00M 2,823.15M 3,421.99M 3,772.79M 4,418.49M 5,612.93M 7,436.91M 9,324.99M 10,645.63M 3,544.17M 2,365.27M 2,294.31M 2,009.98M
Total Shareholders’ Equity 17,614.00M 6,376.00M 8,499.00M 10,980.00M 15,830.00M 12,742.00M 7,173.00M 5,079.00M 6,555.00M 5,515.00M 8,576.00M 9,481.00M 15,866.00M 18,834.00M 20,796.00M 22,951.00M 25,365.00M 21,821.00M 31,476.00M 19,835.00M 14,637.81M 11,053.71M 10,929.36M 8,754.11M 4,860.66M 14,196.11M 14,937.24M 11,951.05M 10,927.09M 2,746.18M 7,491.47M 6,224.93M
Total Equity 21,343.00M 10,067.00M 11,901.00M 16,224.00M 22,450.00M 19,219.00M 14,198.00M 13,411.00M 15,588.00M 15,213.00M 18,804.00M 19,146.00M 25,040.00M 25,131.00M 27,996.00M 28,698.00M 32,597.00M 24,361.00M 33,807.00M 22,565.00M 17,460.97M 14,475.69M 14,702.15M 13,172.61M 10,473.59M 21,633.02M 24,262.23M 22,596.68M 14,471.26M 5,111.45M 9,785.78M 8,234.91M
Total Liabilities & Equity 92,568.00M 79,040.00M 81,934.00M 99,093.00M 98,764.00M 98,605.00M 95,855.00M 106,028.00M 98,950.00M 100,874.00M 110,939.00M 116,532.00M 115,690.00M 110,410.00M 129,687.00M 130,725.00M 121,790.00M 102,314.00M 109,108.00M 100,520.00M 99,504.08M 71,448.05M 57,591.28M 53,576.21M 54,588.07M 74,387.83M 81,353.59M 61,758.30M 46,973.64M 28,154.15M 29,362.81M 27,184.62M
Tangible Assets 66,477.00M 66,705.00M 72,669.00M 72,795.00M 80,471.00M 80,290.00M 72,225.00M 77,289.00M 71,794.00M 71,375.00M 75,619.00M 71,417.00M 73,792.00M 75,740.00M 78,723.00M 75,255.00M 73,911.00M 71,760.00M 64,962.00M 67,783.00M 65,869.06M 56,344.18M 47,388.25M 48,070.51M 53,863.15M 60,069.99M 64,940.62M 53,088.35M 40,530.85M 33,515.88M 31,214.97M 28,528.87M
Tangible Equity -4,748.00M -16,007.00M -14,435.00M -13,854.00M -8,038.00M -9,025.00M -14,334.00M -28,026.00M -27,016.00M -29,633.00M -30,400.00M -21,161.00M -22,424.00M -16,851.00M -22,045.00M -24,473.00M -22,011.00M -11,051.00M -437.00M -15,525.00M -25,035.59M -2,298.21M -1,125.53M -530.46M -3,520.00M -4,465.29M -3,133.53M 11,350.49M 5,460.69M 1,267.45M 7,717.17M 5,897.13M
Tangible Book Value -4,748.00M -16,007.00M -14,435.00M -13,854.00M -8,038.00M -9,025.00M -14,334.00M -28,026.00M -27,016.00M -29,633.00M -30,400.00M -21,161.00M -22,424.00M -16,851.00M -22,045.00M -24,473.00M -22,011.00M -11,051.00M -437.00M -15,525.00M -25,035.59M -2,298.21M -1,125.53M -530.46M -3,520.00M -4,465.29M -3,133.53M 11,350.49M 5,460.69M 1,267.45M 7,717.17M 5,897.13M
Total Investments 7,729.00M 11,009.00M 10,762.00M 10,464.00M 14,358.00M 23,955.00M 3,631.00M 10,386.00M 3,900.00M 10,398.00M 12,795.00M 13,053.00M 14,693.00M 12,316.00M 13,679.00M 16,368.00M 14,197.00M 12,835.00M 12,370.00M 10,629.00M 1,679.80M 352.92M 689.67M 133.23M 8,469.94M 2,307.39M 6,091.38M 773.36M 392.05M 0.00M 0.00M 0.00M
Net Debt 30,812.00M -6,505.00M 28,656.00M 28,253.00M 31,834.00M 33,715.00M 40,648.00M 46,322.00M 49,010.00M 47,402.00M 56,625.00M 57,488.00M 53,253.00M 50,722.00M 53,617.00M 60,040.00M 59,184.00M 46,120.00M 46,662.00M 46,547.00M 53,196.57M 32,166.52M 14,282.31M 17,327.07M 24,665.93M 25,538.61M 22,527.77M 18,800.28M 20,271.91M 13,145.26M 11,924.78M 11,159.81M

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 2004-12-31 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Working Capital -3,536.0M -3,864.0M -3,365.0M -2,643.0M -511.0M -566.0M 5,538.0M -5,863.0M -6,309.0M -9,135.0M -15,477.0M -3,293.0M -6,835.0M 121.0M -5,915.0M -11,755.0M -12,438.0M -3,106.0M -7,159.0M -6,496.0M -8,622.5M -8,254.8M -7,905.3M -3,360.6M -4,108.1M -6,183.8M -7,483.0M -3,918.0M -5,793.4M -3,622.4M -2,970.1M -2,100.4M
Total Capital 60,518.0M 24,829.0M 64,368.0M 58,653.0M 33,765.0M 72,572.0M 62,086.0M 24,344.0M 72,649.0M 69,514.0M 78,518.0M 77,961.0M 80,897.0M 81,884.0M 83,866.0M 87,947.0M 87,856.0M 79,774.0M 71,536.0M 74,053.0M 76,235.0M 47,101.5M 31,349.8M 34,390.2M 42,205.8M 52,032.5M 49,213.3M 33,514.2M 33,909.8M 25,159.8M 23,633.9M 21,580.4M
Capital Employed 70,043.0M 69,244.0M 74,768.0M 80,925.0M 86,542.0M 83,718.0M 76,934.0M 88,686.0M 84,398.0M 86,000.0M 88,190.0M 88,105.0M 92,600.0M 89,718.0M 98,262.0M 97,045.0M 96,283.0M 81,205.0M 74,764.0M 80,899.0M 82,645.8M 51,244.6M 43,880.1M 48,142.2M 53,359.6M 68,030.3M 68,269.0M 50,847.9M 37,420.1M 28,829.5M 26,637.3M 25,471.0M
Invested Capital 56,126.0M 18,324.0M 56,306.0M 51,502.0M 26,520.0M 63,992.0M 56,482.0M 18,302.0M 66,957.0M 64,322.0M 74,782.0M 75,362.0M 74,368.0M 71,907.0M 74,019.0M 83,812.0M 83,636.0M 70,661.0M 67,259.0M 68,988.0M 72,442.7M 44,890.3M 30,495.4M 34,054.4M 41,661.9M 51,409.9M 48,447.8M 33,327.6M 33,766.8M 25,097.2M 23,337.0M 21,066.8M

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 2004-12-31 2003-12-31 2002-12-31 2001-12-31 1996-12-31 1995-12-31 1994-12-31 1990-12-31 1989-12-31
Net Income -685.32M -1,165.00M -318.00M -1,146.00M 2,011.00M 7,884.00M 1,331.00M 860.00M 3,331.00M 3,132.00M 2,369.00M 2,745.00M 3,001.00M 4,593.00M 3,928.00M 5,403.00M 10,167.00M 7,776.00M 7,592.00M 8,906.00M 6,232.76M 4,442.76M 2,875.16M 2,199.73M -5,576.80M 2,107.33M 981.44M 853.38M 697.63M 578.91M 530.33M
Depreciation & Amortization 4,451.94M 8,744.00M 8,799.00M 8,797.00M 8,796.00M 8,397.00M 9,359.00M 10,582.00M 9,049.00M 9,396.00M 9,649.00M 8,517.00M 8,548.00M 9,627.00M 10,433.00M 10,146.00M 9,303.00M 8,956.00M 9,046.00M 9,436.00M 9,703.74M 6,713.11M 6,408.00M 6,706.60M 6,692.42M 7,686.42M 3,222.24M 3,212.61M 2,815.86M 1,914.43M 1,692.44M
Deferred Income Tax 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 1,480.19M 0.00M 0.00M 0.00M 74.07M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 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 9,180.93M 6,687.78M 7,304.10M 6,975.28M 0.00M -2,694.01M 962.48M 396.19M 347.88M -1,571.01M 0.00M
Accounts Receivable 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
Inventory 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 50.58M -29.41M -23.55M 54.80M -1.24M 0.00M
Accounts Payable 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
Other Working Capital 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 9,180.93M 6,687.78M 7,304.10M 6,975.28M 0.00M -2,744.59M 991.88M 419.75M 293.08M -1,569.77M 0.00M
Other Non-Cash Items 6,996.21M 7,278.00M 2,513.00M 3,998.00M -10,807.00M -6,013.00M 2,506.00M 3,563.00M -12,380.00M -12,528.00M -12,018.00M -11,262.00M -11,549.00M -14,220.00M -14,361.00M -15,549.00M -2,798.00M -584.00M -16,638.00M -18,342.00M -9,703.74M -6,713.11M -6,408.00M -6,706.60M 7,698.99M 251.76M 642.94M -3,845.81M 61.65M 428.00M 339.85M
Net Cash from Operating Activities 10,762.83M 10,531.00M 10,994.00M 11,649.00M 10,807.00M 10,268.00M 13,196.00M 15,005.00M 13,309.00M 13,794.00M 13,364.00M 13,598.00M 12,177.00M 14,183.00M 15,214.00M 17,483.00M 16,672.00M 16,148.00M 16,380.00M 15,551.00M 15,413.69M 11,130.54M 10,179.27M 9,175.02M 8,814.61M 8,831.68M 5,809.09M 616.36M 3,923.01M 1,424.40M 2,562.63M
Capital Expenditures (PPE) -6,002.65M -5,836.00M -5,790.00M -6,161.00M -5,508.00M -6,164.00M -7,020.00M -8,410.00M -8,777.00M -8,992.00M -9,187.00M -9,401.00M -9,205.00M -9,674.00M -9,481.00M -9,085.00M -8,944.00M -7,593.00M -7,889.00M -7,274.00M -6,932.86M 0.00M 0.00M 0.00M -4,311.82M -6,773.81M -4,156.91M -3,732.81M -5,022.01M -5,424.38M -4,347.82M
Acquisitions (Net) 816.06M 162.00M 31.00M -121.00M -1,743.00M 12,955.00M 2.00M 1,711.00M 26.00M -88.00M 713.00M -2,805.00M -1,405.00M -138.00M 1,786.00M -2,944.00M -5,192.00M -1,419.00M -1,492.00M 2,548.00M -21,463.08M -6,566.20M 0.00M 0.00M 4,311.82M 0.00M 0.00M 0.00M 0.00M 3.65M 98.91M
Purchases of Investments -29.22M -436.00M -1,196.00M -1,475.00M -2,575.00M -1,474.00M -3,297.00M -1,132.00M -965.00M -1,106.00M -265.00M -286.00M -247.00M -386.00M -834.00M -669.00M -1,599.00M -1,411.00M -114.00M -179.00M -219.73M 0.00M -6,304.31M -2,862.30M -2,021.31M -2,620.96M 0.00M 0.00M 0.00M -251.54M -71.44M
Sales / Maturities of Investments 0.00M 1,809.00M 1,451.00M 2,257.00M 4,496.00M 2,163.00M 2,308.00M 1,835.00M 1,004.00M 296.00M 489.00M 1,064.00M 302.00M 50.00M 30.00M 23.00M 173.00M 6.00M 31.00M 14.00M 109.11M 624.79M 563.20M 750.99M 457.26M 0.00M 0.00M 0.00M 0.00M 53.20M 20.22M
Other Investing Activities -429.01M -1,599.00M 281.00M 1,214.00M 3.00M -1,584.00M 217.00M 355.00M 27.00M -355.00M 42.00M -1,489.00M 587.00M 248.00M 622.00M 178.00M -299.00M 1,117.00M 363.00M 299.00M 454.61M -3,643.20M -3,230.98M -3,051.34M -4,216.14M -504.64M -1,073.03M -271.17M 956.45M -64.95M -279.28M
Net Cash from Investing Activities -5,644.83M -5,900.00M -5,223.00M -4,286.00M -5,327.00M 5,896.00M -7,790.00M -5,641.00M -8,685.00M -10,245.00M -8,208.00M -12,917.00M -9,968.00M -9,900.00M -7,877.00M -12,497.00M -15,861.00M -9,300.00M -9,101.00M -4,592.00M -28,051.96M -9,584.61M -8,972.09M -5,162.64M -5,780.19M -9,899.40M -5,229.95M -4,003.98M -4,065.56M -5,684.02M -4,579.41M
Net Debt Issuance -3,116.77M -855.00M -859.00M -2,815.00M -6,029.00M -8,129.00M -2,840.00M -5,639.00M -432.00M -164.00M 646.00M -6,554.00M -4,977.00M -6,087.00M 1,374.00M 3,054.00M 1,884.00M -3,164.00M -1,084.00M -3,928.00M 20,114.00M 4,388.00M 948.30M -2,699.70M -4,055.65M -1,315.55M -784.51M -863.91M -158.28M 1,436.37M 1,095.13M
Long-Term Debt Issuance -989.00M -855.00M -859.00M -2,815.00M -6,029.00M -8,129.00M -2,840.00M -5,639.00M -432.00M -164.00M 646.00M -3,277.00M -3,692.00M -3,053.00M 1,374.00M 3,054.00M 1,884.00M -3,164.00M -1,084.00M -3,928.00M 20,114.00M 4,388.00M 867.76M -2,699.70M -4,055.65M -1,315.55M -784.51M -863.91M -158.28M 1,436.37M 1,095.13M
Short-Term Debt Issuance -2,127.77M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -3,277.00M -1,285.00M -3,034.00M 0.00M 0.00M 0.00M -6,668.00M 0.00M 0.00M 0.00M 0.00M 80.54M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -518.52M -1,357.00M -1,358.00M -223.00M 0.00M -604.00M 100.00M -504.00M 379.00M 1,271.00M -660.00M 2,483.00M -427.00M 65.00M 0.00M 0.00M 0.00M -947.00M -2,241.00M -2,152.00M 0.00M -2,052.52M 92.42M 12.10M 2,006.56M 319.07M 0.00M 0.00M 59.45M 13.06M 22.58M
Common Stock Issuance -205.20M -611.00M -57.00M 0.00M 0.00M 0.00M 323.00M 0.00M 379.00M 1,271.00M 0.00M 4,255.00M 814.00M 377.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 92.42M 12.10M 2,006.56M 319.07M 0.00M 0.00M 59.45M 13.06M 22.58M
Common Stock Repurchased -237.33M -2,163.00M -1,301.00M -223.00M -555.00M -604.00M -223.00M -504.00M 0.00M 0.00M -660.00M -1,772.00M -1,241.00M -312.00M 0.00M 0.00M 0.00M -947.00M -2,241.00M -2,152.00M -2,346.00M -2,052.52M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -4,255.00M 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 Dividends Paid -1,839.38M -1,762.00M -1,757.00M -1,701.00M -1,397.00M -3,630.00M -1,296.00M -2,742.00M -2,794.00M -2,459.00M -2,906.00M -2,775.00M -2,328.00M -2,182.00M -3,273.00M -7,567.00M -6,249.00M -4,838.00M -4,440.00M -3,345.00M -3,195.94M -2,765.96M -2,947.31M -1,484.05M -52.00M -324.81M -622.05M -686.09M -274.32M -388.96M -364.87M
Common Dividends Paid -1,839.38M -1,762.00M -1,757.00M -1,717.00M -968.00M -622.00M -1,296.00M -2,742.00M -2,794.00M -2,459.00M -2,906.00M -2,775.00M -2,328.00M -2,182.00M -3,273.00M -7,567.00M -6,249.00M -4,838.00M -4,165.00M -3,077.00M -2,627.00M -2,372.00M -1,916.52M -1,484.05M -52.00M -324.63M -622.05M -686.09M -274.32M -388.96M -364.87M
Preferred Dividends Paid 0.00M 0.00M 0.00M 16.00M -429.00M 5.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -275.00M -268.00M -569.00M -396.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -1,540.72M -1,907.00M -698.00M -2,447.00M -499.00M -3,640.00M -1,402.00M -136.00M -1,033.00M -400.00M -1,300.00M 3,234.00M 3,691.00M 5,519.00M 656.00M -399.00M -883.00M 6,668.00M 0.00M 0.00M -2,915.00M -2.48M -3,058.25M 0.02M -0.01M -0.61M 827.49M 5,157.86M 577.35M -72.68M -0.08M
Net Cash from Financing Activities -7,015.39M -5,881.00M -4,672.00M -7,186.00M -7,925.00M -12,990.00M -5,438.00M -9,021.00M -3,880.00M -1,752.00M -4,220.00M -3,612.00M -4,041.00M -2,685.00M -1,243.00M -4,912.00M -5,248.00M -2,281.00M -7,765.00M -9,425.00M 14,571.89M -434.82M -1,959.78M -4,171.64M -2,101.10M -1,321.72M -579.06M 3,607.86M 204.19M 987.79M 752.75M
Effect of FX on Cash -384.90M -237.00M -191.00M -258.00M 154.00M -198.00M -406.00M 7.00M -244.00M -341.00M 185.00M -999.00M -1,616.00M -1,468.00M -382.00M -159.00M -463.00M 269.00M -302.00M -261.00M -343.99M 175.62M 475.89M 119.80M -546.85M -106.77M 0.00M 3,387.62M 142.54M 4,259.62M 2,016.79M
Net Change in Cash -2,295.29M -1,494.00M 911.00M -94.00M -1,335.00M 2,976.00M -438.00M 350.00M 500.00M 1,456.00M 1,121.00M -3,930.00M -3,448.00M 130.00M 5,712.00M -85.00M -4,893.00M 4,836.00M -788.00M 1,273.00M 1,590.39M 1,286.73M -276.72M -39.46M 386.47M -2,496.20M 0.08M 3,607.86M 204.19M 987.79M 752.75M
Cash at Beginning of Period 29,081.89M 26,629.00M 7,151.00M 7,245.00M 8,580.00M 5,604.00M 6,042.00M 5,692.00M 5,192.00M 3,736.00M 2,615.00M 6,529.00M 9,977.00M 9,847.00M 4,135.00M 4,220.00M 9,113.00M 4,277.00M 5,065.00M 3,792.00M 2,201.85M 913.54M 3,533.42M 3,569.35M 3,189.11M 6,927.78M 296.80M 293.40M 49.50M 3,291.39M 1,271.20M
Cash at End of Period 26,786.60M 25,135.00M 8,062.00M 7,151.00M 7,245.00M 8,580.00M 5,604.00M 6,042.00M 5,692.00M 5,192.00M 3,736.00M 2,599.00M 6,529.00M 9,977.00M 9,847.00M 4,135.00M 4,220.00M 9,113.00M 4,277.00M 5,065.00M 3,792.24M 2,200.27M 3,256.70M 3,529.89M 3,575.58M 4,431.58M 296.88M 3,901.27M 253.69M 4,279.18M 2,023.95M
Operating Cash Flow 10,762.83M 10,531.00M 10,994.00M 11,649.00M 10,807.00M 10,268.00M 13,196.00M 15,005.00M 13,309.00M 13,794.00M 13,364.00M 13,598.00M 12,177.00M 14,183.00M 15,214.00M 17,483.00M 16,672.00M 16,148.00M 16,380.00M 15,551.00M 15,413.69M 11,130.54M 10,179.27M 9,175.02M 8,814.61M 8,831.68M 5,809.09M 616.36M 3,923.01M 1,424.40M 2,562.63M
Capital Expenditure -6,002.65M -5,836.00M -5,790.00M -6,161.00M -5,508.00M -6,164.00M -7,020.00M -8,410.00M -8,777.00M -8,992.00M -9,187.00M -9,401.00M -9,205.00M -9,674.00M -9,481.00M -9,085.00M -8,944.00M -7,593.00M -7,889.00M -7,274.00M -6,932.86M 0.00M 0.00M 0.00M -4,311.82M -6,773.81M -4,156.91M -3,732.81M -5,022.01M -5,424.38M -4,347.82M
Free Cash Flow 4,760.18M 4,695.00M 5,204.00M 5,488.00M 5,299.00M 4,104.00M 6,176.00M 6,595.00M 4,532.00M 4,802.00M 4,177.00M 4,197.00M 2,972.00M 4,509.00M 5,733.00M 8,398.00M 7,728.00M 8,555.00M 8,491.00M 8,277.00M 8,480.82M 11,130.54M 10,179.27M 9,175.02M 4,502.79M 2,057.88M 1,652.18M -3,116.44M -1,099.00M -3,999.98M -1,785.19M

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 2004-12-31 2003-12-31 2002-12-31 2001-12-31 1996-12-31 1995-12-31
EBITDA 31,219.00M 19,256.00M 36,731.00M 21,015.00M 29,582.00M 27,768.00M 33,093.00M 36,437.00M 36,450.00M 36,378.00M 35,107.00M 31,971.00M 34,380.00M 40,988.00M 43,459.00M 45,754.00M 49,894.00M 22,593.00M 42,412.00M 36,941.00M 27,258.66M 20,559.79M 25,211.13M 24,420.71M 18,510.25M 26,033.13M 9,157.31M 9,099.60M
(-) Tax Adjustment 10,926.65M 0.00M 12,855.85M 7,355.25M 6,406.10M 3,163.65M 8,020.22M 12,752.95M 10,605.90M 9,646.46M 9,152.70M 1,336.41M 3,622.43M 8,556.57M 10,827.69M 2,122.68M 13,743.19M 5,329.05M 12,002.81M 5,411.14M 7,178.79M 5,956.03M 6,529.02M 6,633.93M 4,093.07M 0.00M 2,399.83M 2,075.41M
(-) Change In Working Capital 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 9,180.93M 6,687.78M 7,304.10M 6,975.28M 0.00M -2,694.01M 962.48M 396.19M
(-) Capital Expenditure -6,002.65M -5,836.00M -5,790.00M -6,161.00M -5,508.00M -6,164.00M -7,020.00M -8,410.00M -8,777.00M -8,992.00M -9,187.00M -9,401.00M -9,205.00M -9,674.00M -9,481.00M -9,085.00M -8,944.00M -7,593.00M -7,889.00M -7,274.00M -6,932.86M 0.00M 0.00M 0.00M -4,311.82M -6,773.81M -4,156.91M -3,732.81M
Unlevered Free Cash Flow 14,289.70M 13,420.00M 18,085.15M 7,498.75M 17,667.90M 18,440.35M 18,052.78M 15,274.05M 17,067.10M 17,739.54M 16,767.30M 21,233.59M 21,552.57M 22,757.43M 23,150.31M 34,546.32M 27,206.81M 9,670.95M 22,520.19M 24,255.86M 3,966.07M 7,915.99M 11,378.01M 10,811.49M 10,105.36M 21,953.33M 1,638.09M 2,895.19M
(-) Net Interest Income After Taxes -1,095.25M -812.00M -1,311.70M -1,244.75M -961.29M -1,252.90M -1,318.30M -1,269.45M -873.52M -1,682.75M -2,000.52M -2,213.44M -2,253.59M -2,133.19M -2,299.11M -2,652.93M -1,838.19M -2,526.97M -2,005.43M -2,433.38M -2,013.98M -1,156.38M 0.00M 0.00M -1,237.87M -1,608.44M 0.00M 0.00M
Net Debt Issuance -3,116.77M -855.00M -859.00M -2,815.00M -6,029.00M -8,129.00M -2,840.00M -5,639.00M -432.00M -164.00M 646.00M -6,554.00M -4,977.00M -6,087.00M 1,374.00M 3,054.00M 1,884.00M -3,164.00M -1,084.00M -3,928.00M 20,114.00M 4,388.00M 948.30M -2,699.70M -4,055.65M -1,315.55M -784.51M -863.91M
Levered Free Cash Flow 12,268.18M 13,377.00M 18,537.85M 5,928.50M 12,600.19M 11,564.25M 16,531.09M 10,904.50M 17,508.63M 19,258.29M 19,413.82M 16,893.03M 18,829.15M 18,803.62M 26,823.42M 40,253.25M 30,929.00M 9,033.92M 23,441.63M 22,761.24M 26,094.05M 13,460.37M 12,326.31M 8,111.79M 7,287.58M 22,246.22M 853.58M 2,031.28M