The Bank of East Asia, Limited (0023.HK)

Industry: Banks - Regional Sector: Financial Services Currency Used: HK Live Price: $13.68

Enterprise Value

Metric	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
Stock Price	9.89	10.16	10.25	12.81	17.13	19.65	28.13	33.75	29.75	31.38	31.73	30.20	28.68	30.73	30.63	27.25	26.62	44.25	34.55	21.09	21.11	17.84	13.19	15.86	17.77
Market Capitalization	26,105.21M	27,112.82M	28,231.76M	37,390.97M	49,893.14M	56,706.45M	78,845.03M	91,597.50M	79,669.70M	78,123.75M	73,753.83M	68,357.45M	60,389.55M	63,293.50M	62,046.25M	50,249.00M	48,881.91M	76,644.88M	58,668.57M	35,512.07M	34,529.48M	28,569.48M	20,995.49M	24,919.84M	18,026.29M
(-) Cash & Equivalents	62,533.50M	94,229.50M	116,863.00M	110,742.50M	102,948.50M	95,535.00M	85,819.00M	79,144.00M	79,438.50M	95,784.00M	72,984.50M	116,187.00M	129,748.00M	94,883.50M	67,004.00M	48,848.00M	62,359.00M	68,081.00M	18,805.17M	1,131.40M	12,427.50M	14,277.26M	8,734.41M	21,880.29M	15,346.92M
(+) Total Debt	61,479.00M	53,776.50M	56,056.50M	60,428.00M	66,185.00M	59,871.50M	13,045.50M	15,752.00M	26,615.50M	32,268.50M	38,758.00M	19,583.00M	23,639.00M	11,567.00M	8,821.50M	14,370.00M	12,194.00M	8,532.64M	2,038.58M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Enterprise Value	25,050.71M	-13,340.18M	-32,574.74M	-12,923.53M	13,129.64M	21,042.95M	6,071.53M	28,205.50M	26,846.70M	14,608.25M	39,527.33M	-28,246.55M	-45,719.45M	-20,023.00M	3,863.75M	15,771.00M	-1,283.09M	17,096.52M	41,901.98M	34,380.68M	22,101.99M	14,292.22M	12,261.08M	3,039.54M	2,679.37M

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
Revenue	29,917M	62,812M	15,426M	14,541M	29,704M	23,856M	27,345M	34,698M	15,597M	15,435M	12,311M	14,186M	17,399M	16,966M	15,014M	13,118M	11,762M	10,461M	6,115M	9,504M	7,765M	5,953M	5,496M	5,396M	5,408M	5,212M	4,970M
Cost of Revenue	23,280M	0M	23,280M	-29,706M	11,340M	6,870M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Gross Profit	6,637M	62,812M	-7,854M	44,247M	18,364M	16,986M	27,345M	34,698M	15,597M	15,435M	12,311M	14,186M	17,399M	16,966M	15,014M	13,118M	11,762M	10,461M	6,115M	9,504M	7,765M	5,953M	5,496M	5,396M	5,408M	5,212M	4,970M
Gross Profit Margin	22.2%	100.0%	-50.9%	304.3%	61.8%	71.2%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
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
SG&A Expenses	3,419M	17,152M	1,591M	1,606M	1,475M	1,466M	1,470M	1,924M	1,257M	1,097M	1,184M	1,345M	1,284M	1,103M	1,082M	2,125M	1,952M	1,328M	1,774M	1,412M	980M	0M	0M	0M	0M	0M	0M
Operating Expenses	17,706M	6,008M	8,855M	8,615M	12,327M	9,688M	8,390M	3,822M	7,537M	7,870M	7,719M	7,801M	8,975M	9,463M	8,551M	7,984M	6,896M	5,812M	5,770M	4,683M	3,449M	1,307M	-642M	-873M	-1,127M	2,432M	4,178M
Operating Income (EBIT)	-11,069M	56,804M	-16,709M	35,632M	6,037M	7,298M	18,955M	30,876M	8,060M	7,565M	4,592M	6,385M	8,424M	7,503M	6,463M	5,134M	4,866M	4,649M	345M	4,821M	4,316M	4,646M	6,138M	6,270M	6,535M	2,780M	792M
Operating Income Margin	-37.0%	90.4%	-108.3%	245.0%	20.3%	30.6%	69.3%	89.0%	51.7%	49.0%	37.3%	45.0%	48.4%	44.2%	43.0%	39.1%	41.4%	44.4%	5.6%	50.7%	55.6%	78.1%	111.7%	116.2%	120.8%	53.3%	15.9%
Interest Income	0M	0M	39,809M	39,685M	24,848M	18,055M	21,107M	28,509M	25,598M	21,629M	20,363M	23,588M	27,732M	25,084M	22,635M	20,868M	13,626M	12,121M	17,465M	18,309M	12,866M	7,807M	5,682M	5,764M	6,553M	9,743M	10,666M
Interest Expense	1,403M	1,273M	23,280M	22,811M	11,340M	6,870M	9,557M	758M	672M	759M	786M	676M	15,079M	12,917M	12,911M	11,605M	6,083M	5,374M	10,672M	12,332M	8,000M	4,046M	2,055M	2,168M	2,727M	5,765M	6,971M
Net Interest Income	-1,403M	-1,273M	16,529M	16,874M	13,508M	11,185M	11,550M	27,751M	24,926M	20,870M	19,577M	22,912M	12,653M	12,167M	9,724M	9,263M	7,543M	6,747M	6,793M	5,977M	4,866M	3,760M	3,628M	3,596M	3,826M	3,977M	3,695M
Unusual Items	23,293M	-44,302M	6,020M	-47,196M	-14,604M	-12,347M	-26,899M	-55,429M	-24,926M	-20,870M	-19,577M	-22,912M	-12,653M	-11,184M	-8,622M	-8,646M	-7,259M	-7,900M	-7,130M	-5,613M	-4,921M	-5,193M	-6,942M	-7,492M	-8,780M	-4,866M	-2,307M
EBT Excluding Unusual Items	-12,472M	55,531M	-180M	52,506M	19,545M	18,483M	30,505M	58,627M	32,986M	28,435M	24,169M	29,297M	21,077M	19,670M	16,187M	14,397M	12,409M	11,396M	7,138M	10,798M	9,181M	8,406M	9,766M	9,866M	10,360M	6,757M	4,487M
Pre-Tax Income	10,821M	11,229M	5,840M	5,310M	4,941M	6,136M	3,606M	3,198M	8,060M	7,565M	4,592M	6,385M	8,424M	8,486M	7,565M	5,751M	5,150M	3,496M	8M	5,185M	4,260M	3,213M	2,824M	2,374M	1,580M	1,891M	2,181M
Pre-Tax Margin	36.2%	17.9%	37.9%	36.5%	16.6%	25.7%	13.2%	9.2%	51.7%	49.0%	37.3%	45.0%	48.4%	50.0%	50.4%	43.8%	43.8%	33.4%	0.1%	54.6%	54.9%	54.0%	51.4%	44.0%	29.2%	36.3%	43.9%
Income Tax Expense	2,270M	1,597M	1,211M	1,174M	563M	823M	-79M	-138M	1,506M	1,195M	1,067M	1,049M	1,650M	1,779M	1,411M	1,300M	847M	858M	-96M	964M	775M	427M	375M	433M	266M	279M	290M
Net Income	7,902M	8,181M	4,608M	4,118M	4,359M	5,270M	3,614M	2,580M	6,509M	4,602M	2,924M	5,522M	6,661M	6,613M	6,056M	4,358M	4,224M	2,565M	39M	4,144M	3,435M	2,786M	2,424M	1,922M	1,288M	1,600M	1,887M
Net Income Margin	26.4%	13.0%	29.9%	28.3%	14.7%	22.1%	13.2%	7.4%	41.7%	29.8%	23.8%	38.9%	38.3%	39.0%	40.3%	33.2%	35.9%	24.5%	0.6%	43.6%	44.2%	46.8%	44.1%	35.6%	23.8%	30.7%	38.0%
Depreciation & Amortization	1,289M	1,758M	875M	820M	875M	969M	995M	941M	487M	498M	500M	-5,318M	-7,550M	702M	690M	669M	615M	525M	440M	329M	301M	259M	388M	0M	0M	0M	0M
EBITDA	-9,780M	58,562M	-15,834M	36,452M	6,912M	8,267M	19,950M	31,817M	8,547M	8,063M	5,092M	1,067M	874M	8,205M	7,153M	5,803M	5,481M	5,174M	785M	5,150M	4,617M	4,905M	6,526M	6,270M	6,535M	2,780M	792M
EBITDA Margin	-32.7%	93.2%	-102.6%	250.7%	23.3%	34.7%	73.0%	91.7%	54.8%	52.2%	41.4%	7.5%	5.0%	48.4%	47.6%	44.2%	46.6%	49.5%	12.8%	54.2%	59.5%	82.4%	118.7%	116.2%	120.8%	53.3%	15.9%
NOPAT	-8,747M	48,725M	-13,244M	27,754M	5,349M	6,319M	19,370M	32,208M	6,554M	6,370M	3,525M	5,336M	6,774M	5,930M	5,258M	3,973M	4,066M	3,508M	4,485M	3,925M	3,531M	4,029M	5,322M	5,125M	5,436M	2,369M	687M
NOPAT Margin	-29.2%	77.6%	-85.9%	190.9%	18.0%	26.5%	70.8%	92.8%	42.0%	41.3%	28.6%	37.6%	38.9%	35.0%	35.0%	30.3%	34.6%	33.5%	73.3%	41.3%	45.5%	67.7%	96.8%	95.0%	100.5%	45.5%	13.8%
Owner's Earnings	8,051M	8,732M	4,946M	4,258M	4,679M	5,634M	4,010M	2,511M	6,339M	4,691M	2,976M	-242M	-1,194M	6,565M	6,310M	4,450M	3,966M	-851M	-2,084M	3,548M	3,224M	2,441M	1,150M	1,698M	1,115M	1,277M	1,740M
Owner's Earnings Margin	26.9%	13.9%	32.1%	29.3%	15.8%	23.6%	14.7%	7.2%	40.6%	30.4%	24.2%	-1.7%	-6.9%	38.7%	42.0%	33.9%	33.7%	-8.1%	-34.1%	37.3%	41.5%	41.0%	20.9%	31.5%	20.6%	24.5%	35.0%
EPS (Basic)	2.84	2.97	1.52	1.32	1.32	1.53	0.97	0.89	2.32	1.69	1.09	1.83	2.72	2.78	2.72	1.96	1.92	1.39	0.02	2.41	2.04	1.66	1.45	1.20	0.80	1.02	1.22
EPS (Diluted)	2.99	2.95	1.75	1.54	1.58	1.81	1.24	0.89	2.32	1.69	1.09	2.16	2.86	2.92	2.88	2.12	2.08	1.39	0.02	2.39	2.02	1.68	1.47	1.20	0.81	1.02	1.22
Shares (Basic)	2,686M	2,774M	2,639M	2,668M	2,759M	2,919M	2,913M	2,885M	2,805M	2,728M	2,678M	2,561M	2,324M	2,261M	2,105M	2,059M	2,024M	1,843M	1,833M	1,722M	1,687M	1,653M	1,641M	1,601M	1,587M	1,571M	1,549M
Shares (Diluted)	2,644M	2,774M	2,639M	2,668M	2,759M	2,919M	2,913M	2,885M	2,805M	2,730M	2,678M	2,561M	2,325M	2,262M	2,106M	2,060M	2,026M	1,844M	1,837M	1,732M	1,698M	1,657M	1,652M	1,601M	1,587M	1,571M	1,549M

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
Cash & Cash Equivalents	66,770.00M	41,304.00M	41,304.00M	89,594.00M	112,147.00M	120,640.00M	113,680.00M	94,629.00M	84,354.00M	84,829.00M	73,006.00M	110,793.00M	71,986.00M	126,265.00M	136,207.00M	133,857.00M	106,529.00M	97,696.00M	124,718.00M	108,929.60M	75,220.68M	4,525.59M	49,710.00M	57,109.03M	34,937.64M	43,760.59M	46,040.76M
Short-Term Investments	-66,770.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	41,304.00M	41,304.00M	89,594.00M	112,147.00M	120,640.00M	113,680.00M	94,629.00M	84,354.00M	84,829.00M	73,006.00M	110,793.00M	71,986.00M	126,265.00M	136,207.00M	133,857.00M	106,529.00M	97,696.00M	124,718.00M	108,929.60M	75,220.68M	4,525.59M	49,710.00M	57,109.03M	34,937.64M	43,760.59M	46,040.76M
Net Receivables	0.00M	5,895.00M	5,895.00M	4,573.00M	4,066.00M	13,421.00M	14,281.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	72,340.00M	92,993.00M	8,418.00M	8,155.00M	1,378.00M	1,992.00M	2,174.44M	1,516.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	0.00M	0.00M	-124,002.00M	-116,213.00M	-134,061.00M	0.00M	-109,744.00M	-184,652.00M	-174,575.00M	-176,870.00M	-229,963.00M	0.00M	0.00M	0.00M	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 Current Assets	0.00M	-5,895.00M	-5,895.00M	153,837.00M	148,201.00M	176,672.00M	54,726.00M	166,860.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	131,289.48M	126,789.68M
Total Current Assets	0.00M	41,304.00M	41,304.00M	124,002.00M	148,201.00M	176,672.00M	182,687.00M	151,745.00M	-100,298.00M	-89,746.00M	-103,864.00M	-119,170.00M	71,986.00M	198,605.00M	229,200.00M	142,275.00M	114,684.00M	99,074.00M	126,710.00M	111,104.04M	76,737.34M	4,525.59M	49,710.00M	57,109.03M	34,937.64M	175,050.07M	172,830.44M
Property, Plant & Equipment	6,468.00M	7,992.00M	7,992.00M	8,388.00M	8,310.00M	8,852.00M	9,104.00M	8,995.00M	7,916.00M	7,643.00M	7,523.00M	8,406.00M	8,573.00M	9,130.00M	9,452.00M	9,699.00M	9,840.00M	9,372.00M	7,307.00M	5,130.26M	4,461.06M	5,355.90M	5,697.75M	4,084.70M	4,407.06M	4,828.88M	4,743.73M
Goodwill	0.00M	1,460.00M	1,460.00M	1,460.00M	1,460.00M	1,460.00M	1,474.00M	1,474.00M	1,474.00M	1,474.00M	1,474.00M	2,685.00M	2,722.00M	2,724.00M	2,743.00M	2,882.00M	2,822.00M	2,738.00M	2,705.00M	2,656.72M	2,592.33M	2,494.95M	2,448.16M	2,343.41M	2,087.38M	1,885.99M	1,594.07M
Intangible Assets	3,021.00M	376.00M	376.00M	392.00M	1,870.00M	1,885.00M	1,912.00M	1,926.00M	466.00M	485.00M	1,165.00M	1,198.00M	1,233.00M	1,266.00M	1,298.00M	1,333.00M	1,366.00M	1,397.00M	29.00M	11.38M	12.99M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	0.00M	542,312.00M	542,312.00M	187,759.00M	20,682.00M	23,100.00M	29,034.00M	27,744.00M	33,986.00M	34,673.00M	26,888.00M	31,501.00M	114,781.00M	101,978.00M	96,235.00M	112,403.00M	90,651.00M	58,698.00M	34,783.00M	40,087.85M	35,529.77M	13,629.55M	17,496.22M	12,332.50M	3,797.45M	3,012.82M	3,365.43M
Tax Assets	0.00M	0.00M	0.00M	0.00M	1,849.00M	1,861.00M	2,022.00M	1,563.00M	481.00M	602.00M	785.00M	181.00M	-102,253.00M	0.00M	0.00M	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	881,935.00M	284,315.00M	284,315.00M	538,360.00M	700,453.00M	693,640.00M	658,187.00M	671,751.00M	-34,467.00M	-35,275.00M	-27,673.00M	-31,682.00M	-12,528.00M	-115,098.00M	-109,728.00M	-126,317.00M	-104,679.00M	-72,205.00M	-44,824.00M	-47,886.21M	-42,596.15M	-21,480.40M	-25,642.13M	-18,760.60M	-10,291.89M	-3,012.82M	-3,365.43M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	745,241.00M	714,511.00M	682,538.00M	658,282.00M	711,377.00M	440,251.00M	353,186.00M	342,810.00M	314,830.00M	262,803.00M	235,160.00M	234,988.41M	169,262.03M	212,793.50M	135,017.42M	122,606.48M	140,013.70M	0.00M	0.00M
Total Non-Current Assets	891,424.00M	836,455.00M	836,455.00M	736,359.00M	734,624.00M	730,798.00M	701,733.00M	713,453.00M	755,097.00M	724,113.00M	692,700.00M	670,571.00M	723,905.00M	440,251.00M	353,186.00M	342,810.00M	314,830.00M	262,803.00M	235,160.00M	234,988.41M	169,262.03M	212,793.50M	135,017.42M	122,606.48M	140,013.70M	6,714.86M	6,337.81M
Total Assets	891,424.00M	877,759.00M	877,759.00M	860,361.00M	882,825.00M	907,470.00M	884,420.00M	865,198.00M	654,799.00M	634,367.00M	588,836.00M	551,401.00M	795,891.00M	638,856.00M	582,386.00M	485,085.00M	429,514.00M	361,877.00M	361,870.00M	346,092.45M	245,999.37M	217,319.09M	184,727.42M	179,715.51M	174,951.34M	181,764.93M	179,168.25M
Accounts Payable	0.00M	4,667.00M	4,667.00M	5,265.00M	4,155.00M	1,894.00M	1,852.00M	3,585.00M	3,279.00M	3,187.00M	3,812.00M	4,269.00M	4,853.00M	4,131.00M	3,912.00M	3,897.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt	21,686.00M	29,518.00M	29,518.00M	28,836.00M	27,774.00M	35,320.00M	35,391.00M	33,114.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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 Payables	0.00M	1,870.00M	1,870.00M	1,602.00M	1,252.00M	958.00M	624.00M	2,103.00M	1,437.00M	1,160.00M	1,605.00M	1,325.00M	1,172.00M	1,353.00M	988.00M	473.00M	618.00M	147.00M	333.00M	228.85M	334.10M	261.70M	179.37M	144.64M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	2,476.00M	2,625.00M	612.00M	616.00M	-256,796.00M	-269,692.00M	-272,148.00M	-250,306.00M	0.00M	0.00M	0.00M	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 Current Liabilities	-26,022.00M	-29,518.00M	-29,518.00M	188,608.00M	235,904.00M	305,699.00M	300,082.00M	228,015.00M	-4,716.00M	-4,347.00M	-26,183.00M	-25,825.00M	-29,646.00M	-23,941.00M	-21,732.00M	-18,074.00M	-618.00M	-147.00M	-333.00M	122,348.43M	-334.10M	-261.70M	-179.37M	-144.64M	-123.54M	0.00M	0.00M
Total Current Liabilities	-4,336.00M	6,537.00M	6,537.00M	224,311.00M	271,561.00M	346,496.00M	338,561.00M	267,433.00M	-256,796.00M	-269,692.00M	-292,914.00M	-270,537.00M	-23,621.00M	-18,457.00M	-16,832.00M	-13,704.00M	0.00M	0.00M	0.00M	122,577.28M	0.00M	0.00M	0.00M	0.00M	-123.54M	0.00M	0.00M
Long-Term Debt	10,973.00M	18,420.00M	18,420.00M	23,949.00M	22,833.00M	23,011.00M	25,424.00M	22,533.00M	12,515.00M	12,872.00M	14,172.00M	24,834.00M	26,039.00M	0.00M	0.00M	0.00M	17,643.00M	0.00M	0.00M	0.00M	8,154.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	0.00M	0.00M	0.00M	587.00M	554.00M	622.00M	600.00M	757.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	468.00M	226.00M	559.00M	460.00M	584.00M	483.00M	551.00M	462.00M	534.00M	0.00M	0.00M	0.00M	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 Liabilities	770,712.00M	753,600.00M	753,600.00M	47,272.00M	50,493.00M	46,704.00M	744,128.00M	0.00M	-25,030.00M	-25,744.00M	-28,344.00M	-49,668.00M	-26,039.00M	0.00M	0.00M	0.00M	-17,643.00M	0.00M	0.00M	240,955.32M	-8,154.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	781,685.00M	772,020.00M	772,020.00M	72,276.00M	74,106.00M	70,896.00M	770,612.00M	23,874.00M	-12,032.00M	-12,321.00M	-13,710.00M	-24,300.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	240,955.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Liabilities	777,349.00M	778,557.00M	778,557.00M	296,587.00M	345,667.00M	417,392.00M	1,109,173.00M	291,307.00M	-268,828.00M	-282,013.00M	-306,624.00M	-294,837.00M	-23,621.00M	-18,457.00M	-16,832.00M	-13,704.00M	0.00M	0.00M	0.00M	363,532.60M	0.00M	0.00M	0.00M	0.00M	-123.54M	0.00M	0.00M
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
Common Stock	42,135.00M	42,060.00M	42,060.00M	41,915.00M	41,856.00M	41,645.00M	41,557.00M	41,379.00M	39,925.00M	37,527.00M	35,490.00M	33,815.00M	25,217.00M	5,724.00M	5,568.00M	5,190.00M	5,105.00M	4,623.00M	4,183.00M	3,935.92M	3,875.36M	3,775.58M	3,730.00M	3,668.63M	3,615.86M	3,583.71M	3,536.95M
Retained Earnings	52,317.00M	37,541.00M	37,541.00M	53,939.00M	33,365.00M	35,395.00M	32,852.00M	31,133.00M	49,810.00M	47,841.00M	41,681.00M	40,462.00M	38,064.00M	34,401.00M	0.00M	10,768.00M	8,841.00M	6,993.00M	5,339.00M	8,873.57M	7,099.49M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	15,005.00M	20,842.00M	20,842.00M	20,913.00M	20,766.00M	24,738.00M	24,476.00M	22,795.00M	21,110.00M	23,065.00M	20,494.00M	21,799.00M	5,599.00M	5,787.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	282.00M	275.00M	275.00M	263.00M	269.00M	304.00M	943.00M	368.00M	2,855.00M	2,838.00M	3,189.00M	3,212.00M	4,564.00M	4,552.00M	4,486.00M	4,428.00M	4,400.00M	4,358.00M	339.00M	347.14M	381.78M	207.16M	165.66M	24.42M	44.71M	19.09M	441.17M
Total Shareholders’ Equity	109,457.00M	100,443.00M	100,443.00M	116,767.00M	95,987.00M	101,778.00M	98,885.00M	95,307.00M	110,845.00M	108,433.00M	97,665.00M	96,076.00M	68,880.00M	45,912.00M	5,568.00M	15,958.00M	13,946.00M	11,616.00M	9,522.00M	12,809.49M	10,974.85M	3,775.58M	3,730.00M	3,668.63M	3,615.86M	3,583.71M	3,536.95M
Total Equity	109,739.00M	100,718.00M	100,718.00M	117,030.00M	96,256.00M	102,082.00M	99,828.00M	95,675.00M	113,700.00M	111,271.00M	100,854.00M	99,288.00M	73,444.00M	50,464.00M	10,054.00M	20,386.00M	18,346.00M	15,974.00M	9,861.00M	13,156.64M	11,356.62M	3,982.74M	3,895.65M	3,693.05M	3,660.57M	3,602.80M	3,978.12M
Total Liabilities & Equity	887,088.00M	879,275.00M	879,275.00M	413,617.00M	441,923.00M	519,474.00M	1,209,001.00M	386,982.00M	-155,128.00M	-170,742.00M	-205,770.00M	-195,549.00M	49,823.00M	32,007.00M	-6,778.00M	6,682.00M	18,346.00M	15,974.00M	9,861.00M	376,689.23M	11,356.62M	3,982.74M	3,895.65M	3,693.05M	3,537.04M	3,602.80M	3,978.12M
Tangible Assets	888,403.00M	875,923.00M	875,923.00M	858,509.00M	879,495.00M	904,125.00M	881,034.00M	861,798.00M	652,859.00M	632,408.00M	586,197.00M	547,518.00M	791,936.00M	634,866.00M	578,345.00M	480,870.00M	425,326.00M	357,742.00M	359,136.00M	343,424.35M	243,394.05M	214,824.14M	182,279.26M	177,372.11M	172,863.96M	179,878.95M	177,574.18M
Tangible Equity	106,718.00M	98,882.00M	98,882.00M	115,178.00M	92,926.00M	98,737.00M	96,442.00M	92,275.00M	111,760.00M	109,312.00M	98,215.00M	95,405.00M	69,489.00M	46,474.00M	6,013.00M	16,171.00M	14,158.00M	11,839.00M	7,127.00M	10,488.53M	8,751.31M	1,487.79M	1,447.50M	1,349.64M	1,573.19M	1,716.82M	2,384.05M
Tangible Book Value	106,718.00M	98,882.00M	98,882.00M	115,178.00M	92,926.00M	98,737.00M	96,442.00M	92,275.00M	111,760.00M	109,312.00M	98,215.00M	95,405.00M	69,489.00M	46,474.00M	6,013.00M	16,171.00M	14,158.00M	11,839.00M	7,127.00M	10,488.53M	8,751.31M	1,487.79M	1,447.50M	1,349.64M	1,573.19M	1,716.82M	2,384.05M
Total Investments	0.00M	542,312.00M	542,312.00M	187,759.00M	20,682.00M	23,100.00M	29,034.00M	27,744.00M	33,986.00M	34,673.00M	26,888.00M	31,501.00M	114,781.00M	101,978.00M	96,235.00M	112,403.00M	90,651.00M	58,698.00M	34,783.00M	40,087.85M	35,529.77M	13,629.55M	17,496.22M	12,332.50M	3,797.45M	3,012.82M	3,365.43M
Net Debt	-34,111.00M	6,634.00M	6,634.00M	-36,809.00M	-61,540.00M	-62,309.00M	-52,865.00M	-38,982.00M	-71,839.00M	-71,957.00M	-58,834.00M	-85,959.00M	-45,947.00M	-126,265.00M	-136,207.00M	-133,857.00M	-88,886.00M	-97,696.00M	-124,718.00M	-108,929.60M	-67,066.37M	-4,525.59M	-49,710.00M	-57,109.03M	-34,937.64M	-43,760.59M	-46,040.76M

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
Working Capital	0.0M	34,767.0M	34,767.0M	-100,309.0M	-126,263.0M	-170,760.0M	-157,726.0M	-115,688.0M	81,075.0M	81,642.0M	69,194.0M	106,524.0M	67,133.0M	194,474.0M	225,288.0M	142,275.0M	114,684.0M	99,074.0M	135,270.0M	111,104.0M	82,344.1M	4,525.6M	49,710.0M	57,109.0M	34,937.6M	175,050.1M	172,830.4M
Total Capital	120,430.0M	158,883.0M	158,883.0M	151,345.0M	147,148.0M	160,731.0M	160,300.0M	151,711.0M	150,026.0M	147,671.0M	142,700.0M	150,164.0M	108,639.0M	82,042.0M	80,073.0M	70,750.0M	61,886.0M	51,870.0M	43,182.0M	43,751.0M	35,417.3M	24,197.4M	21,727.5M	20,101.5M	18,875.0M	18,247.5M	17,307.1M
Capital Employed	891,424.0M	871,222.0M	871,222.0M	636,050.0M	608,361.0M	560,038.0M	544,007.0M	597,765.0M	836,172.0M	805,755.0M	761,894.0M	777,095.0M	791,038.0M	749,823.0M	688,202.0M	611,402.0M	534,193.0M	434,082.0M	415,254.0M	393,978.7M	294,202.3M	238,799.5M	210,369.5M	198,476.1M	185,243.2M	181,764.9M	179,168.3M
Invested Capital	53,660.0M	117,579.0M	117,579.0M	61,751.0M	35,001.0M	40,091.0M	46,620.0M	57,082.0M	65,672.0M	62,842.0M	69,694.0M	39,371.0M	36,653.0M	-44,223.0M	-56,134.0M	-63,107.0M	-44,643.0M	-45,826.0M	-81,536.0M	-65,178.6M	-39,803.4M	19,671.8M	-27,982.5M	-37,007.5M	-16,062.6M	-25,513.1M	-28,733.7M

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	2000-12-31
Net Income	11,133.00M	8,181.00M	4,608.00M	4,118.00M	3,651.00M	4,459.00M	2,822.00M	2,580.00M	6,509.00M	9,347.00M	3,723.00M	5,522.00M	6,661.00M	8,486.00M	7,565.00M	5,751.00M	5,150.00M	3,496.00M	8.00M	5,184.99M	4,260.19M	2,785.98M	2,423.80M	1,921.71M	1,288.38M	1,599.81M	1,887.08M
Depreciation & Amortization	1,720.00M	1,758.00M	875.00M	820.00M	875.00M	969.00M	995.00M	941.00M	487.00M	498.00M	532.00M	555.00M	696.00M	702.00M	690.00M	669.00M	615.00M	525.00M	440.00M	328.76M	301.31M	258.56M	387.84M	0.00M	0.00M	0.00M	0.00M
Deferred Income Tax	0.00M	0.00M	0.00M	-23,892.00M	-1,772.00M	-1,957.00M	-2,001.00M	-1,905.00M	-11,595.00M	3,575.00M	-3,347.00M	-6,035.00M	45,054.00M	-1,435.00M	-1,616.00M	-977.00M	-1,130.00M	0.00M	-76.00M	-1,533.17M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	46.00M	43.00M	22.00M	24.00M	22.00M	19.00M	11.00M	23.00M	35.00M	36.00M	35.00M	22.00M	24.00M	21.00M	22.00M	20.00M	29.00M	0.00M	66.00M	27.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-15,827.00M	-23,319.00M	-26,860.00M	11,033.00M	2,126.00M	-4,374.00M	8,316.00M	5,299.00M	11,560.00M	-3,611.00M	3,312.00M	6,013.00M	-45,078.00M	-27,228.00M	-4,471.00M	-21,712.00M	14,342.00M	-40,025.00M	-592.00M	15,429.85M	23,679.22M	2,677.05M	407.03M	172.71M	0.00M	0.00M	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
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	0.00M	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
Other Working Capital	-15,827.00M	-23,319.00M	-26,860.00M	11,033.00M	2,126.00M	-4,374.00M	8,316.00M	-16,931.00M	-23,640.00M	-24,011.00M	-16,733.00M	49,242.00M	-68,092.00M	-63,726.00M	0.00M	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-Cash Items	-408.00M	8,017.00M	13,611.00M	-9,021.00M	19,487.00M	-37,827.00M	1,854.00M	8,409.00M	-29,313.00M	-30,006.00M	-15,740.00M	47,883.00M	-16,714.00M	1,224.00M	1,942.00M	1,345.00M	461.00M	1,841.00M	-1,364.00M	972.59M	-106.61M	319.10M	8,502.68M	1,682.85M	-8,263.82M	-2,578.15M	10,452.91M
Net Cash from Operating Activities	-3,336.00M	14,440.00M	-7,744.00M	-16,918.00M	24,389.00M	-38,711.00M	11,997.00M	15,347.00M	-22,317.00M	-23,736.00M	-8,138.00M	59,995.00M	-54,411.00M	-18,230.00M	4,132.00M	-14,904.00M	19,467.00M	-34,163.00M	-1,518.00M	20,410.33M	28,134.10M	6,040.70M	11,721.35M	3,777.28M	-6,975.45M	-978.35M	12,339.98M
Capital Expenditures (PPE)	-1,140.00M	-1,207.00M	-537.00M	-680.00M	-555.00M	-605.00M	-599.00M	-1,010.00M	-657.00M	-409.00M	-448.00M	-446.00M	-305.00M	-750.00M	-436.00M	-577.00M	-873.00M	-3,941.00M	-2,563.00M	-924.36M	-511.37M	-603.15M	-1,661.42M	-223.67M	-173.23M	-322.45M	-146.72M
Acquisitions (Net)	61.00M	5,712.00M	0.00M	0.00M	2,464.00M	3,248.00M	48.00M	1,033.00M	28.00M	9.00M	1,142.00M	157.00M	-1,162.00M	122.00M	474.00M	43.00M	-42.00M	116.00M	-52.00M	-1,317.21M	-167.17M	-8.80M	-314.54M	-339.65M	-354.70M	-933.62M	2,630.48M
Purchases of Investments	0.00M	-11,468.00M	0.00M	0.00M	-2,761.00M	-8,707.00M	-17,055.00M	-11,428.00M	-19,434.00M	-21,374.00M	-26,317.00M	-16,473.00M	-1,985.00M	-1,293.00M	-777.00M	-606.00M	-937.00M	-851.00M	-444.00M	-831.76M	-1,655.47M	-231.53M	-152.67M	-85.69M	-4.83M	-25.10M	-51.56M
Sales / Maturities of Investments	0.00M	6,095.00M	0.00M	0.00M	5,776.00M	322.00M	4,761.00M	7,507.00M	8,113.00M	5,328.00M	13,574.00M	47,452.00M	1,780.00M	1,336.00M	745.00M	988.00M	433.00M	483.00M	512.00M	1,455.60M	140.93M	87.24M	115.71M	95.17M	14.61M	63.23M	30.07M
Other Investing Activities	-19,570.00M	5,963.00M	219.00M	169.00M	-2,790.00M	8,414.00M	13,213.00M	-26,740.00M	11,317.00M	20,621.00M	13,856.00M	-31,227.00M	286.00M	631.00M	649.00M	717.00M	184.00M	286.00M	135.00M	181.02M	109.36M	1,152.31M	175.80M	132.03M	217.10M	12.35M	2.80M
Net Cash from Investing Activities	-20,649.00M	-39,075.00M	-318.00M	-511.00M	2,134.00M	2,672.00M	368.00M	-30,638.00M	-633.00M	4,175.00M	1,807.00M	-537.00M	-1,386.00M	46.00M	655.00M	565.00M	-1,235.00M	-3,907.00M	-2,412.00M	-1,436.70M	-2,083.73M	396.07M	-1,837.12M	-421.81M	-301.04M	-1,205.59M	2,465.08M
Net Debt Issuance	-5,643.00M	3,688.00M	6,548.00M	1,803.00M	3,120.00M	-2,587.00M	1,685.00M	3,391.00M	-451.00M	-14,830.00M	-2,553.00M	-8,312.00M	21,668.00M	-4,171.00M	-654.00M	4,637.00M	325.00M	3,877.00M	0.00M	5,348.00M	-386.87M	4,264.73M	0.00M	0.00M	0.00M	1,932.71M	2,340.00M
Long-Term Debt Issuance	1,628.00M	3,688.00M	6,548.00M	1,803.00M	3,120.00M	-3,210.00M	1,685.00M	378.00M	-451.00M	-14,830.00M	-2,553.00M	-8,312.00M	21,668.00M	-4,171.00M	-654.00M	4,637.00M	325.00M	3,877.00M	0.00M	5,348.00M	-386.87M	4,264.73M	0.00M	0.00M	0.00M	1,932.71M	2,340.00M
Short-Term Debt Issuance	-7,271.00M	0.00M	0.00M	0.00M	0.00M	623.00M	0.00M	3,013.00M	0.00M	0.00M	0.00M	-1,197.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-5,597.00M	-184.00M	-5,412.00M	-367.00M	-3,051.00M	0.00M	-5,040.00M	0.00M	73.00M	0.00M	11.00M	0.00M	50.00M	118.00M	3,319.00M	93.00M	5,260.00M	41.00M	4,042.00M	155.00M	415.52M	70.64M	172.39M	217.00M	12.68M	84.42M	110.37M
Common Stock Issuance	0.00M	10,103.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-49.00M	73.00M	93.00M	11.00M	6,726.00M	50.00M	118.00M	3,319.00M	93.00M	5,260.00M	41.00M	4,042.00M	155.00M	415.52M	70.64M	172.39M	217.00M	12.68M	84.42M	110.37M
Common Stock Repurchased	-5,597.00M	-184.00M	-343.00M	-367.00M	-6,976.00M	0.00M	-5,040.00M	-2,495.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	-5,069.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-3,453.00M	-4,017.00M	-1,750.00M	-1,377.00M	-2,584.00M	-1,686.00M	-1,358.00M	-823.00M	-1,333.00M	-2,495.00M	-746.00M	-817.00M	-991.00M	-747.00M	-932.00M	-1,485.00M	-1,571.00M	-478.00M	-1,750.00M	-1,622.05M	-1,472.69M	-1,378.39M	-1,029.45M	-729.13M	-597.74M	-709.06M	-575.96M
Common Dividends Paid	-3,453.00M	-3,022.00M	-1,750.00M	-1,377.00M	-1,998.00M	-1,686.00M	-1,358.00M	-823.00M	-832.00M	-2,495.00M	-746.00M	-817.00M	-991.00M	-747.00M	-932.00M	-1,157.00M	-1,571.00M	-478.00M	-1,750.00M	-1,622.05M	-1,472.69M	-1,378.39M	-1,029.45M	-729.13M	-597.74M	-709.06M	-575.96M
Preferred Dividends Paid	0.00M	-1,700.00M	0.00M	0.00M	-586.00M	0.00M	0.00M	0.00M	0.00M	0.00M	278.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-12,789.00M	15,013.00M	5,558.00M	-1,801.00M	-28,765.00M	46,049.00M	8,775.00M	14,591.00M	-1,346.00M	45,438.00M	-18,697.00M	1,021.00M	17,049.00M	13,253.00M	65,899.00M	4,581.00M	80,472.00M	1,054.00M	-7,974.00M	4,154.76M	-181.36M	18,607.26M	-1,713.38M	-5,277.83M	1,344.89M	-882.88M	268.79M
Net Cash from Financing Activities	-27,482.00M	15,385.00M	4,944.00M	-1,742.00M	-31,280.00M	41,776.00M	4,062.00M	17,159.00M	22,396.00M	28,113.00M	-23,821.00M	-16,746.00M	37,776.00M	8,453.00M	15,770.00M	8,154.00M	6,604.00M	4,494.00M	-5,682.00M	8,035.76M	-1,625.39M	4,642.86M	-2,570.43M	-5,789.95M	759.83M	425.18M	2,143.19M
Effect of FX on Cash	26,424.00M	-4,750.00M	-1,146.00M	-844.00M	-3,740.00M	1,207.00M	2,637.00M	-605.00M	-3,406.00M	5,587.00M	-4,973.00M	-3,732.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-1,964.19M	-1,622.61M
Net Change in Cash	-32,096.00M	-14,000.00M	-4,264.00M	-20,015.00M	-8,497.00M	6,944.00M	19,064.00M	8,618.00M	-3,960.00M	14,139.00M	-35,125.00M	38,980.00M	-18,021.00M	-9,731.00M	20,557.00M	-6,185.00M	24,836.00M	-33,576.00M	-9,612.00M	27,009.38M	24,424.99M	11,079.63M	7,313.80M	-2,434.48M	-6,516.65M	-3,722.95M	15,325.64M
Cash at Beginning of Period	182,630.00M	451,588.00M	92,134.00M	112,149.00M	120,646.00M	113,702.00M	94,638.00M	86,020.00M	89,980.00M	75,841.00M	110,966.00M	71,986.00M	90,007.00M	99,738.00M	79,181.00M	85,366.00M	60,530.00M	94,106.00M	103,718.00M	76,708.95M	52,283.96M	41,204.34M	33,890.54M	36,325.02M	42,841.68M	46,564.63M	31,238.99M
Cash at End of Period	141,375.00M	437,588.00M	87,870.00M	92,134.00M	112,149.00M	120,646.00M	113,702.00M	94,638.00M	86,020.00M	89,980.00M	75,841.00M	110,966.00M	71,986.00M	90,007.00M	99,738.00M	79,181.00M	85,366.00M	60,530.00M	94,106.00M	103,718.33M	76,708.95M	52,283.96M	41,204.34M	33,890.54M	36,325.02M	42,841.68M	46,564.63M
Operating Cash Flow	972.00M	14,440.00M	-7,744.00M	-16,918.00M	10,411.00M	2,318.00M	14,508.00M	15,347.00M	-22,317.00M	-23,736.00M	-8,138.00M	59,995.00M	-54,411.00M	-18,230.00M	4,132.00M	-14,904.00M	19,467.00M	-34,163.00M	-1,518.00M	20,410.33M	28,134.10M	6,040.70M	11,721.35M	3,777.28M	-6,975.45M	-978.35M	12,339.98M
Capital Expenditure	-1,140.00M	-1,207.00M	-537.00M	-680.00M	-555.00M	-605.00M	-599.00M	-1,010.00M	-657.00M	-409.00M	-448.00M	-446.00M	-305.00M	-750.00M	-436.00M	-577.00M	-873.00M	-3,941.00M	-2,563.00M	-924.36M	-511.37M	-603.15M	-1,661.42M	-223.67M	-173.23M	-322.45M	-146.72M
Free Cash Flow	-168.00M	13,233.00M	-8,281.00M	-17,598.00M	9,856.00M	1,713.00M	13,909.00M	14,337.00M	-22,974.00M	-24,145.00M	-8,586.00M	59,549.00M	-54,716.00M	-18,980.00M	3,696.00M	-15,481.00M	18,594.00M	-38,104.00M	-4,081.00M	19,485.97M	27,622.74M	5,437.55M	10,059.93M	3,553.61M	-7,148.67M	-1,300.80M	12,193.26M

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	2000-12-31
EBITDA	4,507.00M	47,418.10M	-8,570.00M	43,461.00M	17,764.00M	16,489.00M	26,870.00M	33,715.00M	14,827.00M	14,836.00M	11,627.00M	7,523.00M	8,565.00M	16,565.00M	14,622.00M	11,662.00M	10,425.00M	9,658.00M	4,781.00M	8,420.15M	7,086.13M	6,211.10M	5,883.70M	5,396.25M	5,407.93M	5,211.99M	4,969.86M
(-) Tax Adjustment	945.47M	6,743.85M	-1,777.10M	9,608.89M	2,024.11M	2,211.61M	0.00M	0.00M	2,770.40M	2,343.56M	2,701.66M	1,235.96M	1,677.62M	3,472.68M	2,727.25M	2,636.17M	1,714.56M	2,370.30M	0.00M	1,565.23M	1,288.38M	825.21M	782.01M	985.02M	909.32M	769.37M	659.86M
(-) Change In Working Capital	-15,827.00M	-23,319.00M	-26,860.00M	11,033.00M	2,126.00M	-4,374.00M	8,316.00M	5,299.00M	11,560.00M	-3,611.00M	3,312.00M	6,013.00M	-45,078.00M	-27,228.00M	-4,471.00M	-21,712.00M	14,342.00M	-40,025.00M	-592.00M	15,429.85M	23,679.22M	2,677.05M	407.03M	172.71M	0.00M	0.00M	0.00M
(-) Capital Expenditure	-1,140.00M	-1,207.00M	-537.00M	-680.00M	-555.00M	-605.00M	-599.00M	-1,010.00M	-657.00M	-409.00M	-448.00M	-446.00M	-305.00M	-750.00M	-436.00M	-577.00M	-873.00M	-3,941.00M	-2,563.00M	-924.36M	-511.37M	-603.15M	-1,661.42M	-223.67M	-173.23M	-322.45M	-146.72M
Unlevered Free Cash Flow	18,248.53M	62,786.25M	19,530.10M	22,139.11M	13,058.89M	18,046.39M	17,955.00M	27,406.00M	-160.40M	15,694.44M	5,165.34M	-171.96M	51,660.38M	39,570.32M	15,929.75M	30,160.83M	-6,504.56M	43,371.70M	2,810.00M	-9,499.29M	-18,392.84M	2,105.69M	3,033.24M	4,014.84M	4,325.38M	4,120.17M	4,163.29M
(-) Net Interest Income After Taxes	-1,108.68M	-1,091.95M	13,101.50M	13,143.29M	11,968.84M	9,684.80M	11,550.00M	27,751.00M	20,268.61M	17,573.28M	15,028.08M	19,147.76M	10,174.67M	9,616.32M	7,910.31M	7,169.12M	6,302.43M	5,091.13M	6,793.00M	4,866.07M	3,980.98M	3,260.67M	3,145.43M	2,939.66M	3,182.37M	3,390.29M	3,204.70M
Net Debt Issuance	-5,643.00M	3,688.00M	6,548.00M	1,803.00M	3,120.00M	-2,587.00M	1,685.00M	3,391.00M	-451.00M	-14,830.00M	-2,553.00M	-8,312.00M	21,668.00M	-4,171.00M	-654.00M	4,637.00M	325.00M	3,877.00M	0.00M	5,348.00M	-386.87M	4,264.73M	0.00M	0.00M	0.00M	1,932.71M	2,340.00M
Levered Free Cash Flow	13,714.22M	67,566.20M	12,976.60M	10,798.82M	4,210.05M	5,774.59M	8,090.00M	3,046.00M	-20,880.02M	-16,708.84M	-12,415.73M	-27,631.72M	63,153.71M	25,783.01M	7,365.44M	27,628.71M	-12,481.99M	42,157.57M	-3,983.00M	-9,017.36M	-22,760.68M	3,109.75M	-112.19M	1,075.18M	1,143.01M	2,662.58M	3,298.59M