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Definitive Analysis

Financial Statements

Company Industry Sector

Periods / Units / Analysis

Fundamentals

Margins Returns Growth Rates Metrics/Ratios

Valuations

Projections DCF DDM EPV Multiples Valuations

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Page: Sector Financials

THRY

Sector Analysis

Master Data Export

Sector Enterprise Value

Metric MRQ 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 28.58 9.72 14.76 15.18 15.66 20.16 18.00 19.14 21.98 21.96 21.24 20.76 20.34 18.38 15.98 13.56 14.40 13.45 12.35 16.20 16.14 16.04 17.81 16.69 14.70 15.72 17.06 19.14 14.46 12.77 11.18
Market Capitalization 1,027.46M 3,396.36M 22,464.99M 21,411.01M 22,181.11M 23,851.92M 21,099.28M 23,162.57M 21,912.48M 21,776.01M 21,646.04M 20,094.19M 20,254.35M 17,359.33M 14,054.15M 11,551.23M 11,394.76M 10,485.95M 10,082.68M 14,871.35M 12,578.50M 11,051.72M 9,834.71M 8,325.37M 7,029.22M 7,202.20M 7,131.60M 6,334.59M 4,352.09M 3,688.33M 1,899.53M
(-) Cash & Equivalents 103.97M 198.47M 2,033.56M 2,131.15M 2,226.37M 2,514.17M 2,378.09M 1,821.39M 1,545.47M 1,438.81M 1,501.99M 1,445.52M 1,543.48M 1,399.83M 1,348.66M 1,168.72M 1,156.46M 907.61M 783.27M 659.33M 753.22M 526.65M 460.96M 354.46M 362.33M 290.57M 242.43M 193.28M 91.71M 55.36M 46.45M
(+) Total Debt 634.29M 564.70M 11,455.90M 13,053.87M 11,198.28M 11,642.67M 12,321.32M 10,689.57M 8,334.33M 8,202.66M 8,236.77M 7,155.79M 6,593.78M 6,636.20M 6,038.18M 5,621.11M 4,323.46M 4,115.70M 3,741.34M 2,887.55M 2,696.29M 2,682.10M 2,822.13M 2,631.54M 2,826.10M 2,412.16M 2,089.52M 1,175.45M 1,051.73M 581.57M 310.75M
Enterprise Value 1,557,780,308.75 4,175,352,378.30 31,003,147,437.50 31,137,011,740.33 29,594,318,708.56 30,318,186,561.29 31,621,224,767.57 33,426,872,656.73 29,885,164,495.43 31,583,870,743.15 29,556,719,030.43 27,923,977,359.01 26,814,340,933.45 23,621,079,141.89 20,261,564,327.24 18,021,620,736.93 15,236,402,967.20 15,033,911,627.31 12,752,320,934.91 16,828,762,934.76 15,612,149,859.38 13,510,600,110.15 13,037,305,874.74 11,214,921,844.65 10,680,204,382.05 11,313,105,823.90 9,551,986,732.79 7,912,911,077.52 5,764,665,857.95 4,778,196,866.65 2,182,760,171.01

Sector Income Statement

Metric TTM 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
Revenue 1,613.48M 1,419.93M 16,674.34M 16,990.91M 16,872.08M 16,037.25M 15,691.74M 16,062.04M 16,225.90M 14,227.70M 13,244.32M 12,742.36M 12,302.69M 11,754.63M 11,428.14M 10,386.91M 8,224.57M 7,637.66M 8,113.45M 6,608.80M 6,328.22M 5,992.98M 5,679.86M 4,656.71M 4,291.87M 3,888.99M 2,973.61M 2,210.75M 1,751.88M 1,119.78M 770.72M
Cost of Revenue 817.65M 728.33M 7,815.10M 8,910.64M 8,435.43M 7,907.15M 7,295.41M 7,899.86M 7,403.09M 7,199.99M 6,784.18M 6,191.04M 5,773.18M 5,593.93M 4,950.50M 4,270.28M 3,652.87M 3,417.59M 3,300.46M 3,248.58M 2,919.59M 2,619.88M 2,568.67M 1,756.27M 1,607.63M 1,210.40M 1,059.60M 840.08M 518.76M 392.31M 223.47M
Gross Profit 795.83M 691.61M 8,859.24M 8,080.27M 8,436.65M 8,130.10M 8,396.32M 8,162.18M 8,822.81M 7,027.71M 6,460.14M 6,551.32M 6,529.51M 6,160.70M 6,477.64M 6,116.63M 4,571.70M 4,220.07M 4,812.99M 3,360.22M 3,408.63M 3,373.10M 3,111.19M 2,900.44M 2,684.24M 2,678.59M 1,914.01M 1,370.67M 1,233.11M 727.47M 547.25M
Gross Margin 49.3% 48.7% 53.1% 47.6% 50.0% 50.7% 53.5% 50.8% 54.4% 49.4% 48.8% 51.4% 53.1% 52.4% 56.7% 58.9% 55.6% 55.3% 59.3% 50.8% 53.9% 56.3% 54.8% 62.3% 62.5% 68.9% 64.4% 62.0% 70.4% 65.0% 71.0%
R&D Expenses 6.43M 0.06M 143.40M 56.19M 101.71M 57.17M 35.48M 33.65M 15.00M 20.10M 20.68M 12.17M 5.40M 4.39M 0.40M 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 0.00M 0.00M
SG&A Expenses 242.47M 260.45M 2,678.86M 2,784.97M 2,837.79M 2,474.25M 2,431.87M 2,348.31M 2,431.95M 2,362.26M 2,204.90M 2,274.40M 2,297.01M 2,262.03M 2,260.11M 1,929.53M 1,658.58M 1,618.98M 1,763.04M 1,615.44M 1,467.31M 1,289.69M 1,235.80M 908.18M 696.28M 573.66M 454.91M 332.13M 225.55M 143.41M 113.24M
Operating Expenses 248.90M 260.51M 2,822.26M 2,841.16M 2,939.50M 2,531.42M 2,467.35M 2,381.96M 2,446.95M 2,382.36M 2,225.58M 2,286.57M 2,302.40M 2,266.42M 2,260.51M 1,929.53M 1,658.58M 1,618.98M 1,763.04M 1,615.44M 1,467.31M 1,289.69M 1,235.80M 908.18M 696.28M 573.66M 454.91M 332.13M 225.55M 143.41M 113.24M
Operating Income (EBIT) 546.93M 431.10M 6,036.98M 5,239.10M 5,497.14M 5,598.69M 5,928.97M 5,780.21M 6,375.85M 4,645.35M 4,234.56M 4,264.76M 4,227.11M 3,894.27M 4,217.14M 4,187.10M 2,913.12M 2,601.09M 3,049.95M 1,744.78M 1,941.32M 2,083.41M 1,875.39M 1,992.27M 1,987.95M 2,104.93M 1,459.10M 1,038.53M 1,007.56M 584.06M 434.01M
Operating Margin 33.9% 30.4% 36.2% 30.8% 32.6% 34.9% 37.8% 36.0% 39.3% 32.7% 32.0% 33.5% 34.4% 33.1% 36.9% 40.3% 35.4% 34.1% 37.6% 26.4% 30.7% 34.8% 33.0% 42.8% 46.3% 54.1% 49.1% 47.0% 57.5% 52.2% 56.3%
Interest Income 2.18M 3.18M 84.94M 68.70M 58.97M 40.99M 51.53M 50.59M 43.01M 48.30M 40.78M 43.37M 42.32M 39.54M 47.87M 36.52M 22.89M 23.94M 35.22M 24.18M 21.82M 15.82M 11.54M 9.64M 8.65M 2.48M 1.36M 0.00M 0.08M 0.00M 0.00M
Interest Expense 44.18M 37.47M 526.51M 564.12M 492.78M 516.97M 572.32M 476.17M 377.85M 423.03M 391.50M 369.31M 315.04M 305.49M 305.89M 284.56M 252.65M 243.15M 239.74M 134.70M 99.50M 111.66M 72.25M 71.33M 52.74M 46.87M 31.97M 1.39M 3.85M 0.81M 2.40M
Net Interest Income -42.00M -34.29M -441.57M -495.42M -433.81M -475.98M -520.79M -425.57M -334.85M -374.72M -350.72M -325.94M -272.73M -265.95M -258.02M -248.04M -229.76M -219.21M -204.52M -110.52M -77.67M -95.84M -60.71M -61.69M -44.09M -44.40M -30.61M -1.39M -3.77M -0.81M -2.40M
Other Income / Expense -395.96M -265.42M -4,296.57M -3,403.77M -3,750.76M -3,077.72M -4,259.26M -3,921.11M -4,553.83M -2,902.16M -2,650.09M -2,692.50M -2,660.51M -2,419.13M -2,778.30M -2,821.62M -1,512.11M -1,568.61M -2,125.42M -658.72M -999.46M -1,200.32M -1,100.78M -1,524.41M -1,740.51M -1,863.85M -1,108.35M -770.33M -795.91M -461.84M -348.95M
Pre-Tax Income 108.97M 131.39M 1,298.85M 1,339.91M 1,312.57M 2,044.99M 1,148.91M 1,433.54M 1,487.18M 1,368.46M 1,233.76M 1,246.32M 1,293.87M 1,209.19M 1,180.82M 1,117.43M 1,171.25M 813.27M 720.01M 975.54M 864.18M 787.25M 713.90M 406.17M 203.36M 196.68M 320.13M 266.82M 207.89M 121.41M 82.66M
Pre-Tax Margin 6.8% 9.3% 7.8% 7.9% 7.8% 12.8% 7.3% 8.9% 9.2% 9.6% 9.3% 9.8% 10.5% 10.3% 10.3% 10.8% 14.2% 10.6% 8.9% 14.8% 13.7% 13.1% 12.6% 8.7% 4.7% 5.1% 10.8% 12.1% 11.9% 10.8% 10.7%
Income Tax Expense 26.87M 38.17M 277.73M 291.59M 384.60M 452.21M 379.62M 340.10M 311.85M 177.25M 364.57M 330.63M 310.74M 310.27M 265.44M 256.69M 240.80M 200.47M 220.61M 249.14M 201.63M 203.58M 216.44M 143.81M 128.01M 117.93M 134.47M 87.32M 84.27M 53.24M 36.61M
Tax Rate 24.7% 29.1% 21.4% 21.8% 29.3% 22.1% 33.0% 23.7% 21.0% 13.0% 29.5% 26.5% 24.0% 25.7% 22.5% 23.0% 20.6% 24.6% 30.6% 25.5% 23.3% 25.9% 30.3% 35.0% 35.0% 35.0% 35.0% 32.7% 35.0% 35.0% 35.0%
Net Income 71.93M 88.82M 906.79M 947.74M 957.14M 1,611.39M 732.26M 1,132.86M 1,133.09M 1,058.84M 960.31M 1,010.72M 1,078.20M 947.67M 797.65M 783.41M 905.60M 587.72M 586.59M 708.54M 683.99M 567.29M 402.11M 338.66M 83.25M 71.63M 206.19M 193.62M 146.03M 80.77M 47.56M
Net Margin 4.5% 6.3% 5.4% 5.6% 5.7% 10.0% 4.7% 7.1% 7.0% 7.4% 7.3% 7.9% 8.8% 8.1% 7.0% 7.5% 11.0% 7.7% 7.2% 10.7% 10.8% 9.5% 7.1% 7.3% 1.9% 1.8% 6.9% 8.8% 8.3% 7.2% 6.2%
Depreciation & Amortization 121.88M 107.28M 2,219.22M 2,573.58M 3,053.73M 3,155.63M 3,217.93M 3,020.16M 2,675.21M 2,285.24M 2,117.57M 1,895.74M 1,893.71M 1,905.77M 1,723.22M 1,497.99M 1,036.17M 954.96M 938.53M 816.57M 812.41M 785.10M 819.15M 762.74M 611.94M 579.25M 422.28M 257.59M 222.96M 94.73M 49.13M
EBITDA 668.81M 538.38M 8,256.20M 7,812.69M 8,550.87M 8,754.31M 9,146.91M 8,800.38M 9,051.06M 6,930.59M 6,352.14M 6,160.50M 6,120.82M 5,800.04M 5,940.36M 5,685.08M 3,949.30M 3,556.05M 3,988.48M 2,561.35M 2,753.73M 2,868.51M 2,694.54M 2,755.01M 2,599.90M 2,684.18M 1,881.38M 1,296.12M 1,230.53M 678.79M 483.14M
EBITDA Margin 41.5% 37.9% 49.5% 46.0% 50.7% 54.6% 58.3% 54.8% 55.8% 48.7% 48.0% 48.3% 49.8% 49.3% 52.0% 54.7% 48.0% 46.6% 49.2% 38.8% 43.5% 47.9% 47.4% 59.2% 60.6% 69.0% 63.3% 58.6% 70.2% 60.6% 62.7%
NOPAT 412.07M 305.85M 4,746.10M 4,098.98M 3,886.39M 4,360.63M 3,969.92M 4,408.90M 5,038.87M 4,043.64M 2,983.25M 3,133.39M 3,211.91M 2,895.04M 3,269.16M 3,225.25M 2,314.20M 1,959.94M 2,115.44M 1,299.18M 1,488.37M 1,544.64M 1,306.82M 1,294.97M 1,292.17M 1,368.20M 948.41M 698.65M 654.92M 379.64M 282.10M
NOPAT Margin 25.5% 21.5% 28.5% 24.1% 23.0% 27.2% 25.3% 27.4% 31.1% 28.4% 22.5% 24.6% 26.1% 24.6% 28.6% 31.1% 28.1% 25.7% 26.1% 19.7% 23.5% 25.8% 23.0% 27.8% 30.1% 35.2% 31.9% 31.6% 37.4% 33.9% 36.6%
Owner's Earnings 193.82M 196.09M 3,126.00M 3,521.32M 4,010.86M 4,767.02M 3,950.19M 4,153.02M 3,808.30M 3,344.08M 3,077.88M 2,906.47M 2,971.91M 2,853.44M 2,520.87M 2,281.39M 1,941.78M 1,542.68M 1,525.12M 1,525.11M 1,496.40M 1,352.39M 1,221.26M 1,101.40M 695.20M 650.88M 628.47M 451.21M 368.99M 175.50M 96.69M
Owner's Earnings Margin 12.0% 13.8% 18.7% 20.7% 23.8% 29.7% 25.2% 25.9% 23.5% 23.5% 23.2% 22.8% 24.2% 24.3% 22.1% 22.0% 23.6% 20.2% 18.8% 23.1% 23.6% 22.6% 21.5% 23.7% 16.2% 16.7% 21.1% 20.4% 21.1% 15.7% 12.5%
EPS 0.06 0.16 0.32 0.34 0.37 0.57 0.26 0.41 0.44 0.44 0.39 0.46 0.52 0.46 0.38 0.37 0.47 0.31 0.30 0.37 0.40 0.38 0.28 0.24 0.07 0.06 0.23 0.23 0.27 0.17 0.14
EPS (Diluted) 0.06 0.16 0.32 0.34 0.37 0.57 0.26 0.41 0.44 0.44 0.39 0.46 0.52 0.46 0.38 0.37 0.47 0.31 0.30 0.37 0.40 0.38 0.28 0.24 0.07 0.06 0.23 0.23 0.27 0.17 0.14
Shares (Diluted) 1,245.06M 573.56M 2,805.68M 2,813.69M 2,617.15M 2,817.56M 2,810.29M 2,756.84M 2,571.20M 2,429.98M 2,441.48M 2,214.79M 2,091.31M 2,045.51M 2,098.33M 2,134.44M 1,928.79M 1,890.34M 1,951.06M 1,913.15M 1,726.32M 1,514.62M 1,442.26M 1,405.16M 1,276.44M 1,144.15M 896.49M 841.33M 542.68M 466.85M 341.38M

Sector Balance Sheet

Metric MRQ 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
Cash & Cash Equivalents 103.97M 198.55M 2,040.28M 2,137.00M 2,232.08M 2,518.04M 2,380.67M 1,823.44M 1,559.13M 1,471.67M 1,530.50M 1,456.72M 1,555.73M 1,410.48M 1,359.66M 1,178.17M 1,163.85M 905.30M 797.53M 657.04M 767.25M 536.64M 474.13M 357.75M 363.02M 297.14M 247.07M 199.02M 94.40M 57.64M 45.45M
Short-Term Investments 0.00M 151.42M 694.42M 694.17M 523.63M 541.50M 685.16M 268.39M 214.37M 313.09M 367.19M 588.37M 366.66M 435.26M 281.52M 178.94M 156.54M 139.09M 120.31M 224.79M 236.87M 195.48M 263.01M 193.54M 286.53M 114.19M 133.84M 78.36M 20.58M 21.07M 2.66M
Cash & Short-Term Investments 103.97M 349.97M 2,734.70M 2,831.16M 2,755.72M 3,059.55M 3,065.83M 2,091.84M 1,773.51M 1,784.75M 1,897.70M 2,045.09M 1,922.39M 1,845.74M 1,641.17M 1,357.10M 1,320.39M 1,044.39M 917.84M 881.83M 1,004.13M 732.12M 737.15M 551.29M 649.56M 411.33M 380.91M 277.38M 114.98M 78.71M 48.11M
Net Receivables 69.59M 243.17M 3,823.31M 3,516.74M 3,375.43M 3,387.13M 3,106.27M 3,008.14M 2,702.32M 2,395.10M 2,544.89M 2,218.79M 2,084.32M 1,987.91M 1,852.64M 1,699.75M 1,463.75M 1,301.44M 1,262.93M 1,087.56M 992.07M 950.55M 811.53M 600.21M 587.43M 498.54M 510.20M 309.54M 134.58M 107.23M 85.09M
Inventory 19.14M 38.78M 264.12M 309.90M 328.69M 283.11M 320.44M 330.80M 267.95M 227.15M 260.86M 215.62M 229.67M 272.67M 213.21M 220.68M 194.12M 163.24M 159.75M 150.00M 154.55M 156.69M 165.51M 133.53M 139.34M 131.33M 92.06M 62.03M 50.01M 51.28M 44.80M
Other Current Assets 86.79M 79.92M 959.09M 1,081.81M 1,073.64M 979.89M 925.72M 879.43M 952.75M 550.38M 782.73M 629.15M 690.58M 543.19M 427.16M 408.18M 333.90M 333.22M 293.83M 301.74M 289.35M 288.06M 341.89M 257.64M 366.89M 175.25M 132.58M 136.20M 117.68M 100.64M 34.41M
Total Current Assets 279.50M 711.85M 7,781.22M 7,739.61M 7,533.47M 7,709.67M 7,418.26M 6,310.20M 5,696.52M 4,957.39M 5,486.18M 5,108.66M 4,926.97M 4,649.51M 4,134.18M 3,685.71M 3,312.15M 2,842.30M 2,634.35M 2,421.13M 2,440.09M 2,127.42M 2,056.07M 1,542.67M 1,743.22M 1,216.45M 1,115.75M 785.15M 417.26M 337.86M 212.42M
Property, Plant & Equipment 829.38M 664.17M 8,834.75M 9,603.15M 11,496.19M 11,385.83M 11,559.36M 10,236.14M 8,504.09M 8,224.58M 8,034.43M 6,863.46M 6,841.01M 6,819.55M 6,882.58M 6,114.22M 5,202.19M 4,812.20M 4,123.03M 3,757.33M 3,447.15M 3,316.65M 3,376.83M 3,425.38M 3,574.98M 3,066.52M 2,199.22M 1,504.88M 980.95M 742.37M 358.78M
Goodwill 477.10M 194.75M 4,562.83M 5,326.19M 5,350.90M 5,625.99M 5,729.64M 5,423.72M 4,525.96M 3,940.84M 4,045.79M 3,552.95M 3,461.90M 3,364.77M 2,963.46M 2,483.58M 2,201.78M 2,130.59M 1,789.25M 1,622.77M 1,582.86M 558.37M 230.94M 28.20M 10.86M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 195.73M 203.00M 4,443.09M 5,139.62M 5,595.70M 5,768.64M 5,638.69M 5,103.93M 4,547.44M 3,965.14M 3,796.58M 3,249.52M 3,019.04M 2,841.08M 2,383.55M 2,306.97M 1,855.43M 1,578.24M 1,677.90M 1,250.61M 1,004.01M 1,409.99M 1,723.34M 1,368.57M 1,348.14M 1,346.56M 1,255.28M 585.96M 348.12M 331.12M 175.02M
Long-Term Investments 1.16M 221.04M 1,579.17M 1,788.16M 2,181.56M 1,962.93M 1,233.51M 1,682.00M 1,460.44M 1,243.36M 1,260.95M 945.04M 780.84M 1,041.23M 848.25M 638.54M 600.91M 244.57M 148.31M 93.11M 98.79M 60.68M 54.21M 27.86M 13.62M 4.15M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 7.24M 17.51M 109.15M 214.64M 251.19M 416.39M 504.11M 430.55M 436.67M 423.07M 416.93M 329.09M 294.95M 289.71M 262.46M 239.63M 213.80M 223.85M 223.17M 138.18M 156.69M 119.19M 58.30M 39.72M 36.49M 41.52M 2.68M 0.00M 0.00M 0.00M 0.04M
Other Non-Current Assets 61.16M 140.18M 1,985.96M 1,914.97M 1,747.26M 1,509.57M 1,174.51M 889.33M 735.45M 723.38M 653.46M 693.33M 526.12M 490.70M 539.77M 808.97M 764.27M 572.64M 581.68M 564.62M 574.82M 614.79M 632.54M 595.65M 721.72M 748.91M 656.58M 449.75M 243.00M 166.79M 80.05M
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
Total Non-Current Assets 1,571.76M 1,440.65M 21,514.96M 23,986.74M 26,622.80M 26,669.35M 25,839.82M 23,765.68M 20,210.04M 18,520.36M 18,208.13M 15,633.39M 14,923.86M 14,847.04M 13,880.08M 12,591.92M 10,838.39M 9,562.09M 8,543.33M 7,426.62M 6,864.32M 6,079.68M 6,076.14M 5,485.38M 5,705.81M 5,207.66M 4,113.76M 2,540.60M 1,572.08M 1,240.28M 613.89M
Total Assets 1,851.26M 2,152.50M 29,296.18M 31,726.35M 34,156.27M 34,379.03M 33,258.08M 30,075.88M 25,906.56M 23,477.75M 23,694.31M 20,742.04M 19,850.83M 19,496.55M 18,014.27M 16,277.62M 14,150.54M 12,404.39M 11,177.68M 9,847.74M 9,304.41M 8,207.10M 8,132.22M 7,028.05M 7,449.03M 6,424.11M 5,229.51M 3,325.75M 1,989.33M 1,578.14M 826.30M
Accounts Payable 39.86M 130.51M 2,741.72M 2,715.57M 2,851.11M 2,941.68M 2,637.02M 2,797.37M 2,461.72M 2,314.87M 2,227.64M 1,858.67M 1,834.38M 1,725.37M 1,624.22M 1,603.11M 1,491.67M 1,374.62M 1,383.04M 1,389.31M 1,186.05M 987.29M 855.12M 835.52M 793.88M 560.03M 433.62M 304.36M 207.29M 157.63M 88.08M
Short-Term Debt 8.41M 69.15M 1,351.96M 1,285.95M 1,343.14M 1,349.36M 1,633.93M 1,477.23M 1,305.90M 1,208.28M 966.57M 1,077.31M 877.47M 789.77M 729.40M 808.86M 556.67M 496.90M 764.95M 545.84M 595.64M 565.66M 447.59M 495.02M 489.28M 405.88M 479.38M 176.25M 163.29M 68.28M 52.61M
Tax Payables 0.73M 0.27M 158.51M 182.55M 203.52M 246.82M 270.07M 190.18M 164.19M 186.21M 153.29M 169.35M 141.41M 144.26M 159.79M 113.84M 106.91M 69.65M 76.50M 54.12M 34.27M 38.50M 33.48M 12.21M 8.47M 0.35M 0.00M 0.32M 0.06M 0.19M 0.13M
Deferred Revenue 11.40M 7.19M 200.92M 386.11M 501.43M 935.19M 768.85M 708.22M 351.32M 516.84M 493.25M 559.21M 521.94M 438.97M 470.05M 283.01M 224.17M 189.58M 151.28M 183.71M 180.26M 168.04M 156.67M 66.48M 118.54M 61.54M 12.10M 1.27M 0.23M 1.57M 0.70M
Other Current Liabilities 283.40M 181.74M 2,237.12M 1,971.94M 1,739.59M 1,567.55M 1,554.04M 1,458.56M 1,514.95M 1,366.39M 1,226.39M 1,482.95M 1,346.95M 1,119.02M 1,109.33M 950.99M 690.61M 569.52M 690.70M 693.39M 584.21M 550.49M 514.00M 325.31M 346.30M 320.63M 274.51M 234.95M 193.42M 97.94M 63.16M
Total Current Liabilities 343.79M 388.86M 6,690.22M 6,542.12M 6,638.79M 7,040.60M 6,863.91M 6,631.56M 5,798.08M 5,592.59M 5,067.15M 5,147.50M 4,722.14M 4,217.39M 4,092.79M 3,759.82M 3,070.04M 2,700.27M 3,066.47M 2,866.37M 2,580.43M 2,309.98M 2,006.86M 1,734.54M 1,756.47M 1,348.44M 1,199.61M 717.14M 564.29M 325.61M 204.68M
Long-Term Debt 625.88M 414.17M 8,751.36M 9,396.18M 8,990.47M 9,511.45M 9,314.58M 9,498.78M 7,226.17M 6,466.32M 6,961.53M 5,738.47M 5,575.61M 5,378.80M 4,821.16M 4,326.85M 3,744.51M 3,556.17M 3,310.11M 2,330.25M 2,160.63M 2,265.53M 2,285.41M 2,028.56M 2,183.72M 2,062.83M 1,460.65M 1,091.01M 829.26M 466.91M 271.56M
Capital Lease Obligations 414.61M 71.19M 1,730.90M 2,183.39M 1,994.31M 1,578.23M 1,613.67M 1,201.12M 133.91M 70.96M 52.04M 43.31M 39.88M 37.30M 11.80M 2.28M 0.86M 2.01M 1.19M 1.85M 1.89M 1.93M 1.19M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 45.37M 30.11M 858.23M 948.54M 873.25M 956.80M 997.59M 815.19M 714.79M 554.93M 590.15M 544.91M 523.49M 540.47M 485.08M 476.63M 389.59M 379.66M 369.08M 280.25M 255.03M 263.55M 226.01M 135.50M 157.30M 83.79M 55.98M 61.60M 25.10M 24.16M 16.49M
Other Non-Current Liabilities 534.09M 91.33M 1,111.36M 1,245.49M 1,134.27M 1,078.35M 1,852.51M 790.40M 1,257.67M 1,040.03M 1,164.83M 988.75M 934.53M 921.03M 819.09M 671.18M 498.77M 487.25M 524.42M 458.35M 411.80M 538.66M 504.44M 567.62M 577.43M 453.01M 236.77M 151.76M 145.38M 105.69M 44.44M
Total Non-Current Liabilities 1,619.95M 606.81M 12,451.85M 13,773.59M 12,992.30M 13,124.83M 13,778.35M 12,305.49M 9,332.54M 8,132.23M 8,768.55M 7,315.44M 7,073.51M 6,877.61M 6,137.12M 5,476.95M 4,633.74M 4,425.08M 4,204.79M 3,070.71M 2,829.34M 3,069.66M 3,017.05M 2,731.69M 2,918.45M 2,599.62M 1,753.40M 1,304.36M 999.74M 596.76M 332.49M
Total Liabilities 1,963.74M 995.67M 19,142.07M 20,315.71M 19,631.09M 20,165.42M 20,642.26M 18,937.05M 15,130.62M 13,724.82M 13,835.70M 12,462.94M 11,795.66M 11,095.00M 10,229.91M 9,236.77M 7,703.78M 7,125.36M 7,271.26M 5,937.08M 5,409.77M 5,379.64M 5,023.91M 4,466.22M 4,674.92M 3,948.05M 2,953.01M 2,021.50M 1,564.03M 922.37M 537.17M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -16.84M 146.69M 1,973.38M 2,033.61M 1,899.40M 1,873.49M 1,702.90M 1,347.94M 1,412.22M 1,363.79M 1,180.33M 993.79M 972.54M 703.20M 712.28M 467.28M 428.93M 437.16M 382.78M 311.71M 279.13M 362.46M 363.08M 305.58M 325.56M 265.91M 213.81M 101.94M 25.48M 10.78M 7.08M
Retained Earnings 574.67M 461.52M 3,898.40M 4,576.06M 5,688.58M 6,364.51M 5,276.56M 5,085.18M 4,179.01M 3,787.38M 3,698.83M 3,832.13M 3,168.00M 2,879.15M 2,519.95M 2,492.17M 2,091.53M 1,889.46M 1,785.69M 1,557.68M 1,133.27M 1,121.95M 918.78M 874.83M 552.31M 601.14M 528.74M 427.78M 280.97M 188.54M 163.12M
Accumulated OCI -124.80M 55.04M -109.61M -188.18M -115.96M -4.43M -138.72M 60.44M -29.55M -38.22M -69.33M 99.80M -11.99M 68.69M -44.28M -58.73M -5.72M -11.81M -32.24M 13.15M 16.52M -6.78M -20.59M -19.32M -14.45M -84.36M -40.98M -29.51M -104.35M -66.24M -40.07M
Minority Interest 6.74M 33.05M 516.74M 778.39M 638.58M 618.60M 596.50M 505.11M 430.04M 362.64M 331.49M 292.67M 282.21M 254.38M 246.63M 267.05M 232.59M 181.01M 174.40M 136.64M 103.43M 111.55M 121.62M 100.36M 125.07M 105.12M 149.34M 60.03M 16.51M 8.48M 3.56M
Total Shareholders’ Equity 433.03M 663.25M 5,762.17M 6,421.49M 7,472.01M 8,233.58M 6,840.73M 6,493.55M 5,561.69M 5,112.95M 4,809.83M 4,925.73M 4,128.55M 3,651.03M 3,187.95M 2,900.72M 2,514.74M 2,314.81M 2,136.23M 1,882.54M 1,428.92M 1,477.62M 1,261.26M 1,161.09M 863.42M 782.68M 701.57M 500.21M 202.10M 133.08M 130.13M
Total Equity 439.77M 696.30M 6,278.91M 7,199.87M 8,110.59M 8,852.17M 7,437.23M 6,998.66M 5,991.73M 5,475.59M 5,141.32M 5,218.39M 4,410.76M 3,905.41M 3,434.58M 3,167.76M 2,747.33M 2,495.82M 2,310.63M 2,019.18M 1,532.35M 1,589.17M 1,382.89M 1,261.46M 988.49M 887.80M 850.91M 560.24M 218.62M 141.56M 133.69M
Total Liabilities & Equity 2,403.51M 1,691.97M 25,420.99M 27,515.58M 27,741.68M 29,017.60M 28,079.50M 25,935.71M 21,122.35M 19,200.41M 18,977.01M 17,681.33M 16,206.42M 15,000.41M 13,664.49M 12,404.53M 10,451.11M 9,621.18M 9,581.89M 7,956.26M 6,942.12M 6,968.82M 6,406.80M 5,727.68M 5,663.41M 4,835.86M 3,803.92M 2,581.74M 1,782.65M 1,063.93M 670.86M
Tangible Assets 1,178.44M 1,754.76M 20,290.26M 21,260.54M 23,209.67M 22,984.39M 21,889.75M 19,548.23M 16,833.16M 15,571.76M 15,851.95M 13,939.57M 13,369.89M 13,290.70M 12,667.25M 11,487.08M 10,093.33M 8,695.56M 7,710.54M 6,974.36M 6,717.55M 6,238.74M 6,177.94M 5,631.28M 6,090.03M 5,077.55M 3,974.23M 2,739.79M 1,641.21M 1,247.02M 651.29M
Tangible Equity -233.05M 298.55M -2,727.01M -3,265.94M -2,836.01M -2,542.46M -3,931.09M -3,529.00M -3,081.67M -2,430.39M -2,701.05M -1,584.07M -2,070.18M -2,300.44M -1,912.43M -1,622.78M -1,309.88M -1,213.01M -1,156.51M -854.20M -1,054.51M -379.19M -571.39M -135.31M -370.52M -458.75M -404.38M -25.72M -129.51M -189.56M -41.33M
Tangible Book Value -233,051,500.00 298,551,936.27 -2,727,011,769.15 -3,265,942,597.24 -2,836,012,759.54 -2,542,460,158.49 -3,931,091,545.11 -3,528,995,106.59 -3,081,666,767.95 -2,430,394,064.87 -2,701,046,532.37 -1,584,073,020.71 -2,070,177,555.23 -2,300,442,953.51 -1,912,434,031.07 -1,622,782,109.31 -1,309,882,669.25 -1,213,007,974.17 -1,156,510,200.64 -854,201,755.35 -1,054,512,547.15 -379,189,444.48 -571,387,855.54 -135,313,143.84 -370,516,292.75 -458,754,498.49 -404,378,669.74 -25,717,844.15 -129,505,514.71 -189,564,224.09 -41,332,234.49
Total Investments 8.85M 324.27M 2,342.36M 2,721.21M 2,742.39M 2,469.97M 1,620.75M 1,896.26M 1,625.91M 1,445.72M 1,486.93M 1,281.20M 994.26M 1,302.80M 1,120.94M 984.09M 884.99M 432.15M 300.95M 398.01M 430.13M 284.21M 251.57M 221.24M 178.35M 169.55M 103.35M 68.34M 7.01M 1.33M 0.39M
Net Debt 530.32M 284.78M 8,063.05M 8,545.13M 8,101.53M 8,342.76M 8,567.84M 9,152.57M 6,972.94M 6,202.93M 6,397.60M 5,359.06M 4,897.35M 4,758.09M 4,190.90M 3,957.54M 3,137.33M 3,147.77M 3,277.52M 2,219.05M 1,989.01M 2,294.55M 2,258.86M 2,165.83M 2,309.97M 2,171.57M 1,692.95M 1,068.23M 898.15M 477.54M 278.72M

Sector Capital Metrics

Metric MRQ 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
Working Capital -39.26M 330.51M -1,045.46M -892.98M -1,180.87M -1,846.05M -2,127.56M -2,564.37M -1,204.05M -2,051.06M -826.74M -707.43M -302.80M 158.94M -432.04M -722.07M -319.40M -483.56M -808.08M -605.07M -299.52M -363.53M -164.46M -228.41M -241.03M -48.32M 55.70M -54.58M -140.57M 54.16M 35.38M
Total Capital 1,386.34M 1,706.83M 24,666.51M 27,067.01M 28,015.99M 25,444.11M 24,253.14M 22,084.87M 18,985.87M 17,661.83M 17,057.84M 14,846.38M 13,794.23M 13,738.07M 12,700.46M 12,345.85M 10,292.60M 9,098.99M 8,145.95M 7,140.09M 6,666.15M 6,389.92M 6,506.56M 5,784.32M 5,554.44M 5,324.10M 4,494.89M 2,509.56M 2,125.40M 1,224.25M 663.48M
Capital Employed 1,532.50M 2,280.19M 27,698.85M 28,690.90M 30,330.29M 27,664.93M 27,643.86M 25,334.65M 24,259.92M 23,346.08M 21,686.26M 18,851.73M 18,181.04M 18,685.43M 16,582.02M 15,999.42M 12,279.77M 10,443.20M 9,499.03M 8,358.66M 7,350.87M 7,227.80M 6,642.76M 6,270.46M 6,403.13M 5,903.79M 4,475.37M 2,874.21M 2,077.51M 1,593.57M 963.56M
Invested Capital 1,282.37M 1,508.28M 22,626.23M 24,930.02M 25,783.91M 22,926.07M 21,872.47M 20,261.43M 17,426.73M 16,190.16M 15,527.34M 13,389.66M 12,238.50M 12,327.59M 11,340.81M 11,167.68M 9,128.75M 8,193.69M 7,348.41M 6,483.05M 5,898.90M 5,853.29M 6,032.42M 5,426.57M 5,191.41M 5,026.96M 4,247.82M 2,310.54M 2,031.00M 1,166.61M 618.02M

Sector Cash Flow

Metric TTM 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
Net Income 222.23M 71.60M 985.42M 1,082.81M 1,157.24M 1,768.82M 909.35M 1,378.25M 1,296.25M 1,223.52M 1,032.42M 1,189.73M 1,178.26M 1,011.32M 1,062.01M 840.37M 872.57M 599.89M 775.75M 849.13M 697.16M 569.02M 417.13M 318.93M 94.23M 104.17M 233.55M 165.42M 131.17M 183.14M 69.25M
Depreciation & Amortization 162.07M 101.21M 2,460.00M 2,934.29M 3,001.74M 3,047.50M 2,895.91M 2,610.14M 2,396.21M 2,283.04M 2,175.82M 1,900.19M 1,894.64M 1,912.04M 1,746.26M 1,462.17M 1,113.31M 971.43M 939.18M 808.15M 662.65M 624.54M 797.37M 777.07M 607.28M 580.14M 414.56M 250.58M 190.81M 196.73M 94.90M
Deferred Income Tax 0.03M 0.00M 0.62M 6.78M 31.72M 41.03M 14.30M 11.72M 30.31M -136.97M 15.26M 12.88M 12.98M 1.55M 20.80M 26.23M 10.81M 6.15M -14.69M 5.22M -6.16M -0.14M 10.19M 5.57M 2.51M -2.39M 1.56M 0.96M 2.13M 1.88M 1.65M
Stock-Based Compensation 2.21M 1.19M 45.38M 41.51M 77.06M 58.74M 42.82M 36.34M 29.67M 27.72M 29.32M 25.95M 26.72M 24.79M 15.92M 10.23M 8.49M 5.74M 2.53M 0.29M 0.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -60.92M -10.18M -263.88M -300.09M -271.08M -212.58M 17.54M -317.47M -219.74M -186.00M -147.12M -97.57M -114.93M -42.21M -77.96M -115.33M 5.32M -32.31M -85.89M -18.93M -24.04M -18.16M -13.72M 11.67M -1.37M -41.82M -31.71M -16.60M 0.61M -0.92M 7.84M
Accounts Receivable -20.44M -12.49M -170.75M -172.96M -111.74M -159.56M 11.26M -87.75M -187.78M -122.51M -127.78M -117.94M -77.99M -111.36M -48.93M -20.74M -27.74M -17.36M -17.89M -0.03M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -5.16M -1.47M -10.46M -2.95M -26.90M -19.69M 17.17M -8.49M -37.57M -0.40M 6.23M -18.43M -2.97M -5.85M -5.06M -18.10M -0.41M 3.11M -16.21M -5.12M -6.87M -3.28M -7.14M -1.32M 5.86M -2.31M -3.76M -1.75M 0.38M -1.18M -0.70M
Accounts Payable -6.90M 3.49M 41.08M 32.23M 55.71M 121.78M 26.48M 19.15M 48.51M 26.81M 30.93M 15.43M 19.76M 14.96M 9.18M 4.96M 5.29M -5.97M 1.49M 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 -43.08M -6.35M -89.16M -111.09M -119.61M -63.63M 3.68M -132.57M -55.81M -57.82M -73.65M -16.14M -53.47M 18.35M -12.05M -38.24M -20.89M -10.63M -20.19M -8.02M 2.80M -4.87M -0.39M 4.80M 2.00M -40.40M 1.13M -1.02M 2.51M 3.15M 9.28M
Other Non-Cash Items 10.44M 9.74M 505.57M 415.72M 62.76M -11.67M 830.42M 304.84M 194.79M 176.09M 160.71M 116.14M -2.95M -14.52M -77.24M 38.33M 32.41M 115.63M 218.23M 41.93M 19.68M 7.76M 48.10M -7.10M 48.83M 16.17M -47.81M -4.54M -12.04M 5.49M -0.38M
Net Cash from Operating 312.01M 191.51M 3,272.70M 3,381.29M 4,142.65M 4,088.68M 3,910.56M 3,274.13M 3,271.76M 3,350.21M 3,187.28M 3,052.90M 2,824.50M 2,921.84M 3,033.20M 2,289.95M 2,071.06M 1,806.35M 1,840.03M 1,860.99M 1,602.81M 1,499.76M 1,417.60M 1,122.83M 951.35M 655.89M 545.71M 389.02M 314.13M 291.23M 155.86M
Investments in PPE -87.51M -85.37M -1,757.00M -1,761.99M -2,288.95M -2,015.10M -2,165.90M -2,006.47M -2,023.85M -2,241.16M -1,878.16M -1,788.89M -1,586.70M -1,546.51M -1,586.44M -1,372.57M -1,028.16M -925.72M -1,048.96M -828.56M -808.23M -684.59M -552.22M -471.55M -658.26M -598.56M -490.33M -448.12M -330.60M -256.23M -170.40M
Acquisitions (Net) -0.14M -1.83M -27.81M -57.48M -62.83M -127.26M -93.18M -129.92M -103.75M -121.71M -162.71M -156.90M -127.74M -94.40M -73.80M -162.04M -52.69M -51.19M -167.76M -80.79M -56.62M -79.04M -42.01M -26.59M -61.42M -89.48M -180.90M -3.96M 0.00M -0.04M 0.00M
Purchases of Investments -11.56M -72.77M -253.23M -385.78M -611.92M -398.30M -359.60M -256.68M -148.65M -181.19M -95.92M -142.59M -118.19M -111.96M -104.07M -133.82M -214.93M -59.32M -60.64M -141.51M -151.30M -62.55M -41.53M -57.81M -43.40M -91.96M -52.07M -28.06M -13.52M -28.56M -7.91M
Sales/Maturities of Investments 3.47M 81.43M 281.87M 510.67M 405.30M 324.09M 324.28M 344.71M 218.19M 123.84M 203.81M 168.98M 161.77M 87.93M 98.57M 103.34M 61.02M 54.65M 70.45M 115.82M 129.02M 90.95M 115.77M 78.96M 69.31M 130.46M 62.69M 28.95M 17.44M 14.13M 5.32M
Other Investing Activities -4.60M -5.01M -85.51M 50.79M 54.51M -57.13M 31.03M 52.31M 65.24M 8.99M -101.43M -100.50M -49.09M 12.75M 40.10M -0.56M -6.99M -0.09M -15.47M -8.07M 10.94M -0.34M -22.56M 4.48M 17.64M -7.85M -19.25M -21.38M -8.38M -31.49M -28.35M
Net Cash from Investing -139.61M -90.67M -1,991.12M -1,962.43M -2,489.39M -2,451.86M -2,870.74M -2,222.78M -2,011.71M -2,655.99M -3,091.17M -2,525.47M -1,981.95M -1,952.90M -1,543.65M -1,483.12M -1,424.54M -1,275.03M -1,330.31M -1,201.48M -883.63M -827.97M -692.52M -540.40M -669.29M -705.62M -1,008.93M -524.51M -417.54M -482.04M -178.77M
Net Debt Issuance -48.31M 1.07M -234.36M -218.70M -455.37M -172.94M -2.77M 99.91M -155.47M 147.81M 80.52M 310.46M 234.46M 257.04M 119.31M 255.12M -106.02M 14.70M 273.00M -46.37M 46.96M -45.32M -170.88M -269.09M -114.04M 85.72M 220.00M -9.27M 25.24M 62.29M -3.92M
Long-Term Debt Issuance -46.05M -4.58M -179.61M -103.41M -231.43M -76.83M 192.79M 87.75M -133.69M 192.95M 108.29M 252.97M 305.46M 299.01M 151.54M 204.54M -40.83M 46.43M 218.80M 19.84M -7.51M -44.37M -148.30M -232.40M -44.97M 85.62M 173.01M -31.73M 13.56M 44.39M -3.09M
Short-Term Debt Issuance -6.71M 0.04M 0.00M -43.17M -8.54M -6.12M -103.63M -13.12M -2.80M -3.84M 0.00M -0.21M -5.97M -2.32M -0.40M -0.29M -13.22M -22.46M 0.77M 2.42M -1.99M -4.23M -0.30M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -17.92M -9.36M -83.29M -88.90M -144.20M -89.71M -64.20M -105.21M -47.66M -65.05M -63.45M -71.68M -63.62M -66.33M -24.65M -23.96M -15.87M -10.25M -49.92M -65.51M -80.56M -63.72M -15.17M 6.69M 7.87M 1.72M 34.37M 3.17M 1.82M 3.07M 5.39M
Common Stock Issued 0.18M 0.65M 0.00M 1.31M 2.37M 10.26M 6.57M 2.08M 1.75M 4.27M 7.49M 12.45M 18.66M 23.23M 6.03M 16.48M 7.72M 2.38M 6.24M 18.81M 17.11M 16.96M 30.61M 14.95M 16.25M 22.40M 135.63M 70.16M 12.69M 18.21M 15.13M
Common Stock Repurchased -19.58M -10.85M -96.33M -107.46M -174.96M -148.69M -100.79M -147.49M -132.64M -85.08M -80.86M -126.56M -114.30M -109.17M -58.31M -52.04M -28.78M -12.93M -62.46M -81.88M -108.97M -105.62M -53.98M -6.03M -0.55M -4.73M -17.14M -9.15M -5.51M -4.29M -2.79M
Net Common Stock Issuance -15.38M -9.36M -83.89M -87.49M -125.76M -89.44M -56.79M -107.36M -47.81M -63.23M -38.48M -71.05M -33.19M -61.51M -31.52M -22.54M -11.58M -9.06M -49.71M -72.29M -81.89M -61.53M -14.04M 6.69M 7.87M 1.72M 19.88M 3.95M 1.82M 3.03M 4.87M
Net 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -28.76M -24.94M -566.95M -580.62M -520.16M -448.54M -516.90M -534.20M -475.52M -464.92M -458.90M -514.92M -455.68M -493.46M -548.24M -415.91M -347.22M -333.38M -338.64M -318.76M -255.10M -219.76M -179.14M -91.81M -60.64M -59.59M -59.75M -26.91M -23.60M -39.62M -22.33M
Common Dividends Paid -28.23M -24.94M -539.05M -508.56M -512.15M -438.73M -514.58M -530.64M -547.10M -467.42M -455.74M -497.69M -455.38M -491.75M -543.49M -418.89M -352.88M -336.55M -339.06M -331.45M -247.65M -246.29M -183.26M -104.55M -76.19M -59.51M -60.28M -30.46M -33.12M -39.04M -23.19M
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 0.00M 0.00M 0.00M 0.00M 0.00M 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 Financing Activities 25.73M -35.29M -312.55M -344.57M -320.12M -410.75M -231.33M -260.63M -158.72M -190.88M -125.27M -76.00M -100.67M -49.45M -165.82M -162.60M -147.57M -78.77M -64.53M -42.15M -54.35M -39.02M -58.90M -23.12M -42.86M -10.75M 31.17M 31.76M 6.07M 15.21M 1.30M
Net Cash from Financing -162.19M -78.25M -1,573.38M -1,340.22M -1,922.34M -819.82M -690.69M -1,017.31M -1,176.47M -812.67M -646.13M -477.10M -609.33M -619.76M -809.24M -595.26M -728.77M -433.77M -321.74M -666.94M -597.79M -488.75M -591.28M -489.28M -193.03M 56.64M 345.42M 66.61M 44.97M 33.89M 17.37M
Effect of FX on Cash -1.48M 0.10M -1.73M 0.55M 7.09M -5.97M -8.11M -0.76M -6.10M -7.34M 2.61M 1.42M -1.15M -1.05M -2.70M -5.50M 0.15M 0.34M -2.47M 0.24M -1.23M 0.96M 0.02M -1.03M 0.14M 0.04M 0.00M 0.00M 0.03M -0.49M -0.02M
Net Change in Cash -34.30M 19.39M 65.84M 12.48M -260.27M 75.73M 446.78M 218.06M -25.10M -54.21M -26.99M -14.67M 128.67M 103.13M 101.45M 46.92M -17.34M 123.44M 60.28M -54.78M 69.02M 15.91M 59.26M 36.71M 21.34M -12.78M 31.08M 32.67M 29.21M 19.47M -1.92M
Cash at Beginning of Period 86.63M 214.49M 2,074.64M 2,188.54M 2,661.72M 2,519.54M 1,766.72M 1,705.01M 1,554.35M 1,532.63M 1,821.53M 1,614.57M 1,402.22M 1,275.95M 1,235.66M 1,148.59M 951.35M 736.60M 689.66M 774.35M 551.86M 554.52M 444.19M 438.01M 361.04M 294.15M 219.24M 152.50M 94.91M 83.46M 55.79M
Cash at End of Period 100.59M 221.71M 2,030.05M 2,136.21M 2,270.63M 2,583.59M 2,396.68M 1,791.55M 1,643.00M 1,499.78M 1,519.67M 1,621.14M 1,619.38M 1,420.01M 1,350.76M 1,115.95M 1,123.47M 886.66M 726.19M 681.14M 821.14M 559.02M 517.73M 425.42M 428.13M 353.05M 247.95M 231.90M 124.96M 105.17M 53.04M
Operating Cash Flow 311.80M 191.51M 3,272.70M 3,383.57M 4,142.65M 4,088.68M 3,910.56M 3,274.13M 3,271.76M 3,350.21M 3,187.28M 3,052.90M 2,824.50M 2,927.07M 3,033.20M 2,289.95M 2,071.06M 1,805.74M 1,840.03M 1,860.99M 1,602.81M 1,499.75M 1,417.60M 1,122.83M 951.35M 655.89M 545.71M 389.02M 314.13M 291.23M 155.86M
Capital Expenditure -73.91M -78.95M -1,694.79M -1,855.97M -2,293.23M -2,008.78M -2,165.68M -1,990.19M -2,015.86M -2,218.13M -1,856.78M -1,779.11M -1,575.85M -1,539.90M -1,579.23M -1,348.37M -1,030.29M -925.31M -1,048.42M -828.10M -804.45M -668.90M -552.14M -471.56M -658.26M -598.56M -490.33M -448.12M -330.60M -256.23M -170.40M
Free Cash Flow 93.51M 97.66M 1,425.00M 1,484.57M 1,468.94M 1,462.69M 1,766.57M 1,373.96M 1,133.99M 1,170.12M 930.91M 764.45M 1,062.83M 1,109.00M 1,076.08M 907.18M 943.28M 663.03M 700.40M 855.65M 750.65M 716.01M 703.07M 538.93M 302.66M 25.16M -13.11M -3.79M 7.95M 62.38M 40.25M
Income Taxes 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Paid 0.00M 0.55M 51.02M 26.56M 25.82M 35.69M 0.00M 0.00M 0.00M 22.65M 0.00M 0.21M 11.41M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M

Sector Free Cash Flow

Metric TTM 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
EBITDA 668.81M 538.38M 8,256.20M 7,812.69M 8,550.87M 8,754.31M 9,146.91M 8,800.38M 9,051.06M 6,930.59M 6,352.14M 6,160.50M 6,120.82M 5,800.04M 5,940.36M 5,685.08M 3,949.30M 3,556.05M 3,988.48M 2,561.35M 2,753.73M 2,868.51M 2,694.54M 2,755.01M 2,599.90M 2,684.18M 1,881.38M 1,296.12M 1,230.53M 678.79M 483.14M
(-) Tax Adjustment 157.06M 156.41M 1,765.42M 1,700.19M 2,505.55M 1,935.87M 3,022.32M 2,087.83M 1,897.96M 897.71M 1,877.05M 1,634.27M 1,470.00M 1,488.24M 1,335.34M 1,305.96M 811.95M 876.55M 1,222.08M 654.13M 642.50M 741.80M 816.92M 964.25M 909.96M 939.46M 658.48M 424.18M 430.68M 237.58M 169.10M
(-) Change in Working Capital -60.92M -10.18M -263.88M -300.09M -271.08M -212.58M 17.54M -317.47M -219.74M -186.00M -147.12M -97.57M -114.93M -42.21M -77.96M -115.33M 5.32M -32.31M -85.89M -18.93M -24.04M -18.16M -13.72M 11.67M -1.37M -41.82M -31.71M -16.60M 0.61M -0.92M 7.84M
(-) Capital Expenditure 73.91M 78.95M 1,694.79M 1,855.97M 2,293.23M 2,008.78M 2,165.68M 1,990.19M 2,015.86M 2,218.13M 1,856.78M 1,779.11M 1,575.85M 1,539.90M 1,579.23M 1,348.37M 1,030.29M 925.31M 1,048.42M 828.10M 804.45M 668.90M 552.14M 471.56M 658.26M 598.56M 490.33M 448.12M 330.60M 256.23M 170.40M
Unlevered Free Cash Flow 498.76M 313.20M 5,059.86M 4,556.62M 4,023.17M 5,022.25M 3,941.37M 5,039.82M 5,356.98M 4,000.76M 2,765.43M 2,844.70M 3,189.89M 2,814.12M 3,103.75M 3,146.08M 2,101.73M 1,786.50M 1,803.87M 1,098.04M 1,330.82M 1,475.97M 1,339.21M 1,307.52M 1,033.05M 1,187.98M 764.28M 440.42M 468.63M 185.91M 135.80M
(-) Net Interest Income After Taxes -32.11M -24.33M -347.15M -387.61M -306.70M -370.72M -348.71M -324.61M -264.63M -326.19M -247.08M -239.47M -207.23M -197.71M -200.02M -191.06M -182.52M -165.18M -141.86M -82.29M -59.55M -71.06M -42.30M -40.10M -28.66M -28.86M -19.90M -0.93M -2.45M -0.53M -1.56M
Net Debt Issuance -48.31M 1.07M -234.36M -218.70M -455.37M -172.94M -2.77M 99.91M -155.47M 147.81M 80.52M 310.46M 234.46M 257.04M 119.31M 255.12M -106.02M 14.70M 273.00M -46.37M 46.96M -45.32M -170.88M -269.09M -114.04M 85.72M 220.00M -9.27M 25.24M 62.29M -3.92M
Levered Free Cash Flow 482.57M 338.60M 5,172.65M 4,725.53M 3,874.50M 5,220.03M 4,287.31M 5,464.34M 5,466.14M 4,474.76M 3,093.03M 3,394.63M 3,631.58M 3,268.87M 3,423.08M 3,592.27M 2,178.23M 1,966.38M 2,218.73M 1,133.96M 1,437.34M 1,501.71M 1,210.63M 1,078.53M 947.66M 1,302.56M 1,004.18M 432.09M 496.32M 248.72M 133.44M