MTR Corporation Limited (0066.HK)

Industry: Railroads Sector: Industrials Currency Used: HK Live Price: $31.04

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	25.88	32.93	41.18	42.55	41.75	49.50	42.30	44.88	38.45	37.25	30.83	28.78	28.48	26.38	27.53	25.03	21.26	23.61	19.16	15.13	12.13	9.60	9.15	11.78	12.83
Market Capitalization	160,842.20M	204,200.21M	254,906.79M	262,958.03M	257,113.97M	303,931.57M	256,313.10M	267,437.64M	226,388.76M	217,977.65M	179,225.11M	166,975.44M	164,896.29M	152,550.50M	158,449.01M	142,503.41M	119,813.19M	131,764.63M	105,406.84M	82,455.65M	64,897.62M	50,258.82M	46,433.49M	59,346.00M	43,704.07M
(-) Cash & Equivalents	26,275.50M	17,187.50M	10,893.00M	14,437.50M	14,983.87M	14,981.50M	8,654.50M	12,623.50M	11,937.50M	7,385.50M	4,273.50M	17,178.50M	20,229.00M	16,276.50M	11,810.50M	4,821.88M	198.25M	144.00M	77.50M	89.75M	67.25M	94.00M	429.50M	107.50M	58.00M
(+) Total Debt	74,113.00M	61,594.50M	53,869.50M	55,546.50M	56,432.00M	48,811.00M	39,425.00M	42,387.50M	33,613.50M	19,961.00M	20,926.50M	24,008.50M	25,095.00M	23,056.50M	20,404.00M	15,002.50M	7,822.25M	48.50M	408.50M	176.50M	2.75M	91.25M	8.50M	221.50M	310.33M
Enterprise Value	208,679.70M	248,607.21M	297,883.29M	304,067.03M	298,562.10M	337,761.07M	287,083.60M	297,201.64M	248,064.76M	230,553.15M	195,878.11M	173,805.44M	169,762.29M	159,330.50M	167,042.51M	152,684.04M	127,437.19M	131,669.13M	105,737.84M	82,542.40M	64,833.12M	50,256.07M	46,012.49M	59,460.00M	43,956.41M

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	116,779M	100,271M	60,011M	56,982M	47,812M	47,202M	42,541M	54,504M	53,930M	55,440M	45,189M	41,701M	40,156M	38,707M	35,739M	33,423M	29,518M	18,797M	17,628M	10,690M	9,541M	9,153M	8,351M	7,594M	7,686M	7,592M	7,577M
Cost of Revenue	82,508M	91,881M	46,299M	47,380M	45,344M	44,172M	42,446M	44,139M	33,691M	34,226M	26,566M	24,381M	23,352M	23,094M	24,824M	14,028M	11,796M	2,660M	1,728M	0M	0M	0M	0M	0M	0M	0M	0M
Gross Profit	34,271M	8,390M	13,712M	9,602M	2,468M	3,030M	95M	10,365M	20,239M	21,214M	18,623M	17,320M	16,804M	15,613M	10,915M	19,395M	17,722M	16,137M	15,900M	10,690M	9,541M	9,153M	8,351M	7,594M	7,686M	7,592M	7,577M
Gross Profit Margin	29.3%	8.4%	22.8%	16.9%	5.2%	6.4%	0.2%	19.0%	37.5%	38.3%	41.2%	41.5%	41.8%	40.3%	30.5%	58.0%	60.0%	85.8%	90.2%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
R&D Expenses	871M	625M	403M	397M	326M	312M	279M	276M	323M	332M	361M	304M	454M	486M	323M	123M	216M	206M	198M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	2,311M	2,193M	1,322M	940M	1,133M	1,057M	1,071M	1,410M	1,032M	910M	992M	882M	1,067M	967M	479M	2,005M	1,867M	1,752M	1,773M	183M	192M	207M	167M	167M	184M	179M	227M
Operating Expenses	3,264M	2,049M	1,952M	1,200M	649M	572M	517M	2,859M	737M	8M	5,568M	1,179M	2,232M	390M	1,669M	10,477M	9,925M	9,610M	9,505M	7,710M	5,201M	4,052M	3,805M	3,847M	3,672M	3,533M	3,663M
Operating Income (EBIT)	31,007M	6,341M	11,760M	8,402M	1,819M	2,458M	-422M	7,506M	19,502M	21,206M	13,055M	16,141M	14,572M	15,223M	9,246M	8,918M	7,797M	6,527M	6,395M	2,980M	4,340M	5,101M	4,546M	3,747M	4,014M	4,059M	3,914M
Operating Income Margin	26.6%	6.3%	19.6%	14.7%	3.8%	5.2%	-1.0%	13.8%	36.2%	38.3%	28.9%	38.7%	36.3%	39.3%	25.9%	26.7%	26.4%	34.7%	36.3%	27.9%	45.5%	55.7%	54.4%	49.3%	52.2%	53.5%	51.7%
Interest Income	2,464M	887M	1,241M	777M	396M	273M	384M	482M	383M	326M	243M	167M	230M	209M	342M	165M	0M	211M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	3,923M	4,517M	2,420M	1,940M	1,478M	1,396M	1,470M	1,427M	1,457M	1,402M	911M	950M	983M	1,042M	1,331M	921M	1,237M	1,486M	1,998M	1,316M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-1,459M	-3,630M	-1,179M	-1,163M	-1,082M	-1,123M	-1,086M	-945M	-1,074M	-1,076M	-668M	-783M	-753M	-833M	-989M	-756M	-1,237M	-1,275M	-1,998M	-1,316M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	3,549M	20,276M	8,944M	2,424M	11,012M	10,605M	-2,012M	7,165M	53M	73M	54M	17M	4,474M	637M	7,307M	9,507M	8,202M	6,267M	4,630M	16,601M	4,829M	4,911M	650M	1,451M	199M	-4,059M	-3,914M
EBT Excluding Unusual Items	29,548M	2,711M	10,581M	7,239M	737M	1,335M	-1,508M	6,561M	18,428M	20,130M	12,387M	15,358M	13,819M	14,390M	8,257M	8,162M	6,560M	5,252M	4,397M	1,664M	4,340M	5,101M	4,546M	3,747M	4,014M	4,059M	3,914M
Pre-Tax Income	33,097M	22,987M	19,525M	9,663M	11,749M	11,940M	-3,520M	13,726M	18,481M	20,203M	12,441M	15,375M	18,293M	15,027M	15,564M	17,669M	14,762M	11,519M	9,027M	18,265M	9,169M	10,012M	5,196M	5,198M	4,213M	0M	0M
Pre-Tax Margin	28.3%	22.9%	32.5%	17.0%	24.6%	25.3%	-8.3%	25.2%	34.3%	36.4%	27.5%	36.9%	45.6%	38.8%	43.5%	52.9%	50.0%	61.3%	51.2%	170.9%	96.1%	109.4%	62.2%	68.4%	54.8%	0.0%	0.0%
Income Tax Expense	6,140M	3,761M	3,458M	1,575M	1,608M	2,261M	1,301M	1,922M	2,325M	3,318M	2,093M	2,237M	2,496M	1,819M	1,893M	2,821M	2,590M	1,880M	747M	3,083M	1,411M	1,549M	700M	748M	1M	-225M	-155M
Net Income	27,111M	20,884M	15,772M	7,784M	9,827M	9,552M	-4,809M	11,932M	16,008M	16,829M	10,254M	12,994M	15,606M	13,025M	13,532M	14,716M	12,059M	9,639M	8,284M	15,182M	7,759M	8,450M	4,496M	4,450M	4,212M	4,284M	4,069M
Net Income Margin	23.2%	20.8%	26.3%	13.7%	20.6%	20.2%	-11.3%	21.9%	29.7%	30.4%	22.7%	31.2%	38.9%	33.7%	37.9%	44.0%	40.9%	51.3%	47.0%	142.0%	81.3%	92.3%	53.8%	58.6%	54.8%	56.4%	53.7%
Depreciation & Amortization	12,302M	11,610M	6,144M	5,755M	5,769M	5,430M	5,365M	5,237M	4,985M	4,855M	4,127M	3,849M	3,486M	3,372M	3,208M	3,206M	3,120M	2,979M	2,930M	2,739M	2,674M	2,682M	2,512M	2,402M	2,470M	2,178M	2,091M
EBITDA	43,309M	17,951M	17,904M	14,157M	7,588M	7,888M	4,943M	12,743M	24,487M	26,061M	17,182M	19,990M	18,058M	18,595M	12,454M	12,124M	10,917M	9,506M	9,325M	5,719M	7,014M	7,783M	7,058M	6,149M	6,484M	6,237M	6,005M
EBITDA Margin	37.1%	17.9%	29.8%	24.8%	15.9%	16.7%	11.6%	23.4%	45.4%	47.0%	38.0%	47.9%	45.0%	48.0%	34.8%	36.3%	37.0%	50.6%	52.9%	53.5%	73.5%	85.0%	84.5%	81.0%	84.4%	82.2%	79.3%
NOPAT	25,255M	5,304M	9,677M	7,033M	1,570M	1,993M	-333M	6,455M	17,049M	17,723M	10,859M	13,793M	12,584M	13,380M	8,121M	7,494M	6,429M	5,462M	5,866M	2,477M	3,672M	4,312M	3,934M	3,208M	4,013M	3,207M	3,092M
NOPAT Margin	21.6%	5.3%	16.1%	12.3%	3.3%	4.2%	-0.8%	11.8%	31.6%	32.0%	24.0%	33.1%	31.3%	34.6%	22.7%	22.4%	21.8%	29.1%	33.3%	23.2%	38.5%	47.1%	47.1%	42.2%	52.2%	42.2%	40.8%
Owner's Earnings	4,329M	3,310M	2,500M	1,206M	-3,688M	6,340M	-5,566M	8,146M	14,481M	13,874M	3,031M	-4,218M	8,230M	3,408M	4,865M	7,879M	2,843M	7,277M	5,407M	15,440M	7,530M	7,678M	4,119M	4,182M	6,682M	6,462M	6,160M
Owner's Earnings Margin	3.7%	3.3%	4.2%	2.1%	-7.7%	13.4%	-13.1%	14.9%	26.9%	25.0%	6.7%	-10.1%	20.5%	8.8%	13.6%	23.6%	9.6%	38.7%	30.7%	144.4%	78.9%	83.9%	49.3%	55.1%	86.9%	85.1%	81.3%
EPS (Basic)	4.36	3.36	2.54	1.26	1.59	1.55	-0.78	1.94	2.64	2.83	1.74	2.22	2.69	2.25	2.31	2.69	2.10	1.69	1.47	2.72	1.41	1.55	1.23	0.85	0.70	0.85	0.81
EPS (Diluted)	4.36	3.37	2.54	1.25	1.59	1.54	-0.78	1.94	2.64	2.82	1.74	2.22	2.68	2.24	2.34	2.54	2.09	1.69	1.47	2.72	1.41	1.55	0.85	0.85	0.82	0.85	0.81
Shares (Basic)	6,219M	6,190M	6,213M	6,202M	6,191M	6,181M	6,163M	6,143M	6,057M	5,949M	5,878M	5,841M	5,809M	5,797M	5,785M	5,780M	5,751M	5,692M	5,633M	5,574M	5,503M	5,452M	5,320M	5,235M	5,113M	5,033M	5,023M
Shares (Diluted)	6,218M	6,196M	6,221M	6,208M	6,197M	6,187M	6,163M	6,151M	6,066M	5,961M	5,893M	5,855M	5,814M	5,803M	5,785M	5,784M	5,757M	5,697M	5,637M	5,579M	5,503M	5,452M	5,320M	5,235M	5,113M	5,033M	5,023M

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	56,796.00M	27,886.00M	27,886.00M	22,375.00M	10,241.00M	10,752.00M	11,879.00M	8,346.00M	8,865.00M	13,943.00M	6,025.00M	4,760.00M	2,128.00M	1,462.00M	18,664.00M	16,100.00M	13,334.00M	7,715.00M	793.00M	576.00M	310.00M	359.00M	269.00M	376.00M	1,718.00M	215.00M	174.00M
Short-Term Investments	0.00M	0.00M	0.00M	0.00M	6,128.00M	10,443.00M	9,341.00M	12,894.00M	89.00M	129.00M	1,174.00M	2,510.00M	14,254.00M	6,567.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	195.00M	234.00M	202.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	56,796.00M	27,886.00M	27,886.00M	22,375.00M	16,369.00M	21,195.00M	21,220.00M	21,240.00M	8,954.00M	14,072.00M	7,199.00M	7,270.00M	16,382.00M	8,029.00M	18,664.00M	16,100.00M	13,334.00M	7,715.00M	793.00M	576.00M	505.00M	593.00M	471.00M	376.00M	1,718.00M	215.00M	174.00M
Net Receivables	18,434.00M	21,978.00M	21,978.00M	13,260.00M	11,795.00M	11,998.00M	11,854.00M	10,506.00M	8,902.00M	3,187.00M	5,435.00M	5,919.00M	4,202.00M	3,700.00M	4,899.00M	3,889.00M	4,408.00M	16,163.00M	10,564.00M	8,540.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	3,008.00M	4,843.00M	4,843.00M	3,756.00M	3,495.00M	2,091.00M	3,234.00M	2,555.00M	3,042.00M	2,887.00M	2,878.00M	2,512.00M	2,441.00M	2,386.00M	1,220.00M	1,135.00M	1,061.00M	1,040.00M	690.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	2,031.00M	0.00M	0.00M	499.00M	0.00M	0.00M	0.00M	0.00M	17,630.00M	10,973.00M	17,056.00M	1,784.00M	342.00M	6,413.00M	7,339.00M	7,739.00M	785.00M	16,954.00M	558.00M	9,089.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	80,269.00M	54,707.00M	54,707.00M	39,890.00M	31,659.00M	35,284.00M	36,308.00M	34,301.00M	38,528.00M	31,119.00M	32,568.00M	17,485.00M	23,367.00M	20,528.00M	32,122.00M	28,863.00M	19,588.00M	41,872.00M	12,605.00M	18,205.00M	505.00M	593.00M	471.00M	376.00M	1,718.00M	215.00M	174.00M
Property, Plant & Equipment	166,084.00M	160,898.00M	160,898.00M	149,705.00M	143,566.00M	112,732.00M	113,941.00M	114,654.00M	117,616.00M	117,699.00M	121,097.00M	116,623.00M	101,998.00M	99,058.00M	93,976.00M	116,145.00M	107,871.00M	103,359.00M	101,820.00M	142,239.00M	108,961.00M	107,342.00M	103,216.00M	100,042.00M	97,934.00M	83,293.00M	81,174.00M
Goodwill	0.00M	0.00M	0.00M	10.00M	61.00M	69.00M	79.00M	77.00M	84.00M	63.00M	57.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	40,057.00M	39,654.00M	39,654.00M	36,710.00M	35,523.00M	34,714.00M	32,875.00M	31,261.00M	30,473.00M	29,823.00M	28,296.00M	27,783.00M	26,728.00M	25,625.00M	24,523.00M	31.00M	31.00M	31.00M	35.00M	40.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	20,283.00M	14,991.00M	14,991.00M	13,616.00M	112,472.00M	106,043.00M	105,205.00M	106,305.00M	8,996.00M	7,199.00M	7,307.00M	6,162.00M	6,137.00M	5,636.00M	0.00M	0.00M	5,289.00M	47,798.00M	1,595.00M	1,079.00M	348.00M	52.00M	-139.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	546.00M	0.00M	0.00M	603.00M	606.00M	599.00M	470.00M	134.00M	121.00M	69.00M	25.00M	91.00M	50.00M	29.00M	21.00M	27.00M	9.00M	12.00M	11.00M	4.00M	1.00M	19.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	95,358.00M	97,249.00M	97,249.00M	105,625.00M	3,194.00M	2,641.00M	1,696.00M	2,482.00M	-121.00M	-69.00M	-25.00M	-91.00M	-50.00M	-29.00M	60,236.00M	60,069.00M	48,708.00M	7.00M	43,058.00M	-143,362.00M	-109,310.00M	-107,413.00M	-103,077.00M	-100,042.00M	-97,934.00M	-83,293.00M	-81,174.00M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	84,675.00M	77,865.00M	70,548.00M	68,767.00M	65,793.00M	61,930.00M	0.00M	0.00M	0.00M	0.00M	0.00M	11,730.00M	10,606.00M	5,660.00M	3,126.00M	1,948.00M	1,468.00M	14,620.00M	11,217.00M
Total Non-Current Assets	322,328.00M	312,792.00M	312,792.00M	306,269.00M	295,422.00M	256,798.00M	254,266.00M	254,913.00M	241,844.00M	232,649.00M	227,305.00M	219,335.00M	200,656.00M	192,249.00M	178,756.00M	176,272.00M	161,908.00M	151,207.00M	146,519.00M	11,730.00M	10,606.00M	5,660.00M	3,126.00M	1,948.00M	1,468.00M	14,620.00M	11,217.00M
Total Assets	402,597.00M	367,499.00M	367,499.00M	346,159.00M	327,081.00M	292,082.00M	290,574.00M	289,214.00M	280,372.00M	263,768.00M	259,873.00M	236,820.00M	224,023.00M	212,777.00M	210,878.00M	205,135.00M	181,496.00M	193,079.00M	159,124.00M	29,935.00M	11,111.00M	6,253.00M	3,597.00M	2,324.00M	3,186.00M	14,835.00M	11,391.00M
Accounts Payable	17,602.00M	17,989.00M	17,989.00M	16,790.00M	15,585.00M	14,203.00M	14,956.00M	14,468.00M	12,603.00M	18,662.00M	20,913.00M	16,905.00M	11,413.00M	9,736.00M	10,405.00M	13,381.00M	15,491.00M	20,497.00M	2,859.00M	2,812.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt	17.00M	847.00M	847.00M	1,828.00M	1,592.00M	1,650.00M	14,370.00M	12,495.00M	4,983.00M	329.00M	1,350.00M	1,649.00M	546.00M	47.00M	355.00M	0.00M	316.00M	46.00M	1,705.00M	2.00M	5.00M	399.00M	11.00M	365.00M	34.00M	443.00M	931.00M
Tax Payables	4,220.00M	2,909.00M	2,909.00M	1,623.00M	2,953.00M	2,381.00M	1,004.00M	2,024.00M	1,161.00M	1,080.00M	123.00M	953.00M	996.00M	349.00M	406.00M	597.00M	1,018.00M	430.00M	450.00M	3.00M	1.00M	2.00M	3.00M	2.00M	1.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	3,124.00M	2,953.00M	2,167.00M	1,481.00M	1,412.00M	1,614.00M	-1,623.00M	-6,848.00M	-3,177.00M	-546.00M	-47.00M	3,257.00M	0.00M	1,910.00M	1,353.00M	1,332.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	3,199.00M	4,790.00M	4,790.00M	55,354.00M	6,379.00M	5,899.00M	0.00M	19,426.00M	14,995.00M	9,651.00M	27,954.00M	5,629.00M	5,342.00M	4,394.00M	5,650.00M	8,483.00M	-6.00M	8,212.00M	2,459.00M	-3,953.00M	-6.00M	-401.00M	7,884.00M	-2.00M	-1.00M	-443.00M	-931.00M
Total Current Liabilities	25,038.00M	26,535.00M	26,535.00M	78,719.00M	29,462.00M	26,300.00M	31,811.00M	49,825.00M	35,356.00M	28,099.00M	43,492.00M	21,959.00M	17,751.00M	14,479.00M	20,073.00M	22,461.00M	18,729.00M	30,538.00M	8,805.00M	-1,136.00M	0.00M	0.00M	7,898.00M	365.00M	34.00M	0.00M	0.00M
Long-Term Debt	92,279.00M	75,771.00M	75,771.00M	57,388.00M	50,969.00M	41,222.00M	45,894.00M	36,446.00M	35,477.00M	40,150.00M	38,238.00M	18,764.00M	20,085.00M	24,599.00M	23,379.00M	23,322.00M	20,895.00M	23,958.00M	29,584.00M	192.00M	515.00M	307.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	0.00M	1,066.00M	1,066.00M	720.00M	609.00M	449.00M	529.00M	1,009.00M	450.00M	10,886.00M	10,827.00M	10,515.00M	0.00M	0.00M	0.00M	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	15,948.00M	16,166.00M	16,166.00M	15,151.00M	14,700.00M	14,418.00M	14,125.00M	13,729.00M	12,979.00M	12,760.00M	12,125.00M	11,209.00M	10,977.00M	10,289.00M	9,857.00M	15,105.00M	13,854.00M	12,804.00M	12,220.00M	12,574.00M	9,453.00M	8,011.00M	4,764.00M	4,000.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	14,633.00M	14,186.00M	14,186.00M	13,625.00M	1,104.00M	10,792.00M	381.00M	0.00M	21,709.00M	10,870.00M	7,976.00M	8,850.00M	16,316.00M	14,959.00M	11,212.00M	10,875.00M	11,307.00M	3,004.00M	4,060.00M	-13,279.00M	-11,650.00M	-11,902.00M	25,867.00M	-3,635.00M	-6,192.00M	-7,968.00M	-9,472.00M
Total Non-Current Liabilities	122,860.00M	107,189.00M	107,189.00M	86,884.00M	67,382.00M	66,881.00M	60,929.00M	51,184.00M	70,615.00M	74,666.00M	69,166.00M	49,338.00M	47,378.00M	49,847.00M	44,448.00M	49,302.00M	46,056.00M	39,766.00M	45,864.00M	-513.00M	-1,682.00M	-3,584.00M	30,631.00M	365.00M	-6,192.00M	-7,968.00M	-9,472.00M
Total Liabilities	147,898.00M	133,724.00M	133,724.00M	165,603.00M	96,844.00M	93,181.00M	92,740.00M	101,009.00M	105,971.00M	102,765.00M	112,658.00M	71,297.00M	65,129.00M	64,326.00M	64,521.00M	71,763.00M	64,785.00M	70,304.00M	54,669.00M	-1,649.00M	-1,682.00M	-3,584.00M	38,529.00M	730.00M	-6,158.00M	-7,968.00M	-9,472.00M
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	61,287.00M	61,287.00M	61,287.00M	61,083.00M	60,547.00M	60,184.00M	59,666.00M	58,804.00M	57,970.00M	52,307.00M	47,929.00M	46,317.00M	45,280.00M	5,798.00M	44,281.00M	5,785.00M	5,773.00M	5,728.00M	5,661.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	125,617.00M	123,454.00M	123,454.00M	115,688.00M	116,228.00M	115,439.00M	113,243.00M	124,880.00M	119,599.00M	110,697.00M	99,392.00M	121,144.00M	114,863.00M	104,965.00M	97,201.00M	82,458.00M	71,781.00M	0.00M	54,979.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	0.00M	-2,538.00M	1,183.00M	1,573.00M	2,773.00M	4,336.00M	4,141.00M	3,185.00M	3,143.00M	3,473.00M	2,367.00M	2,745.00M	3,182.00M	30,338.00M	0.00M	0.00M	1,635.00M	0.00M	1,703.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	657.00M	508.00M	508.00M	512.00M	626.00M	323.00M	193.00M	192.00M	172.00M	122.00M	95.00M	116.00M	157.00M	145.00M	207.00M	186.00M	143.00M	66.00M	21.00M	23.00M	19.00M	21.00M	8.00M	8.00M	8.00M	0.00M	0.00M
Total Shareholders’ Equity	186,904.00M	182,203.00M	185,924.00M	178,344.00M	179,548.00M	179,959.00M	177,050.00M	186,869.00M	180,712.00M	166,477.00M	149,688.00M	170,206.00M	163,325.00M	141,101.00M	141,482.00M	88,243.00M	79,189.00M	5,728.00M	62,343.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Equity	187,561.00M	182,711.00M	186,432.00M	178,856.00M	180,174.00M	180,282.00M	177,243.00M	187,061.00M	180,884.00M	166,599.00M	149,783.00M	170,322.00M	163,482.00M	141,246.00M	141,689.00M	88,429.00M	79,332.00M	5,794.00M	62,364.00M	23.00M	19.00M	21.00M	8.00M	8.00M	8.00M	0.00M	0.00M
Total Liabilities & Equity	335,459.00M	316,435.00M	320,156.00M	344,459.00M	277,018.00M	273,463.00M	269,983.00M	288,070.00M	286,855.00M	269,364.00M	262,441.00M	241,619.00M	228,611.00M	205,572.00M	206,210.00M	160,192.00M	144,117.00M	76,098.00M	117,033.00M	-1,626.00M	-1,663.00M	-3,563.00M	38,537.00M	738.00M	-6,150.00M	-7,968.00M	-9,472.00M
Tangible Assets	362,540.00M	327,845.00M	327,845.00M	309,439.00M	291,497.00M	257,299.00M	257,620.00M	257,876.00M	249,815.00M	233,882.00M	231,520.00M	209,037.00M	197,295.00M	187,152.00M	186,355.00M	205,104.00M	181,465.00M	193,048.00M	159,089.00M	29,895.00M	11,111.00M	6,253.00M	3,597.00M	2,324.00M	3,186.00M	14,835.00M	11,391.00M
Tangible Equity	147,504.00M	143,057.00M	146,778.00M	142,136.00M	144,590.00M	145,499.00M	144,289.00M	155,723.00M	150,327.00M	136,713.00M	121,430.00M	142,539.00M	136,754.00M	115,621.00M	117,166.00M	88,398.00M	79,301.00M	5,763.00M	62,329.00M	-17.00M	19.00M	21.00M	8.00M	8.00M	8.00M	0.00M	0.00M
Tangible Book Value	147,504.00M	143,057.00M	146,778.00M	142,136.00M	144,590.00M	145,499.00M	144,289.00M	155,723.00M	150,327.00M	136,713.00M	121,430.00M	142,539.00M	136,754.00M	115,621.00M	117,166.00M	88,398.00M	79,301.00M	5,763.00M	62,329.00M	-17.00M	19.00M	21.00M	8.00M	8.00M	8.00M	0.00M	0.00M
Total Investments	20,283.00M	14,991.00M	14,991.00M	13,616.00M	118,600.00M	116,486.00M	114,546.00M	119,199.00M	9,085.00M	7,328.00M	8,319.00M	8,531.00M	20,136.00M	12,005.00M	4,651.00M	4,501.00M	5,289.00M	47,798.00M	1,595.00M	1,079.00M	543.00M	286.00M	63.00M	110.00M	88.00M	51.00M	26.00M
Net Debt	35,500.00M	48,732.00M	48,732.00M	36,841.00M	42,320.00M	32,120.00M	48,385.00M	40,595.00M	31,595.00M	26,536.00M	33,563.00M	15,653.00M	18,503.00M	23,184.00M	5,070.00M	7,222.00M	7,877.00M	16,289.00M	30,496.00M	-382.00M	210.00M	347.00M	-258.00M	-11.00M	-1,684.00M	228.00M	757.00M

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	11,739.0M	30,948.0M	30,948.0M	-40,761.0M	-50,419.0M	-15,158.0M	-15,393.0M	-15,722.0M	11,506.0M	8,443.0M	-7,862.0M	917.0M	10,969.0M	10,923.0M	13,194.0M	2,478.0M	1,636.0M	3,037.0M	4,224.0M	574.0M	-614.0M	194.0M	460.0M	11.0M	1,684.0M	-228.0M	-757.0M
Total Capital	302,846.0M	263,309.0M	263,309.0M	237,976.0M	227,272.0M	223,612.0M	227,286.0M	236,556.0M	231,207.0M	218,963.0M	200,016.0M	201,540.0M	183,956.0M	177,203.0M	168,007.0M	152,181.0M	138,361.0M	130,391.0M	129,090.0M	91,208.0M	78,401.0M	70,581.0M	63,510.0M	57,657.0M	56,861.0M	54,492.0M	51,286.0M
Capital Employed	334,067.0M	343,740.0M	343,740.0M	265,508.0M	245,003.0M	241,640.0M	238,873.0M	239,191.0M	253,350.0M	241,092.0M	219,443.0M	220,252.0M	211,625.0M	203,172.0M	191,950.0M	178,750.0M	163,544.0M	154,244.0M	150,743.0M	155,666.0M	119,302.0M	113,267.0M	106,663.0M	102,001.0M	101,086.0M	97,685.0M	91,634.0M
Invested Capital	246,050.0M	235,423.0M	235,423.0M	215,601.0M	217,031.0M	212,860.0M	215,407.0M	228,210.0M	222,342.0M	205,020.0M	193,991.0M	196,780.0M	181,828.0M	175,741.0M	149,343.0M	136,081.0M	125,027.0M	122,676.0M	128,297.0M	90,632.0M	78,091.0M	70,222.0M	63,241.0M	57,281.0M	55,143.0M	54,277.0M	51,112.0M

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	27,111.00M	20,884.00M	15,772.00M	7,784.00M	9,827.00M	9,552.00M	-4,809.00M	11,932.00M	16,008.00M	16,829.00M	10,254.00M	12,994.00M	15,606.00M	13,025.00M	13,083.00M	14,716.00M	12,059.00M	9,502.00M	8,284.00M	15,182.00M	7,759.00M	8,450.00M	4,496.00M	4,450.00M	4,212.00M	4,284.00M	4,069.00M
Depreciation & Amortization	12,302.00M	12,637.00M	6,144.00M	6,105.00M	6,034.00M	6,192.00M	5,365.00M	5,237.00M	4,985.00M	4,855.00M	4,127.00M	3,849.00M	3,486.00M	3,372.00M	3,208.00M	3,206.00M	3,120.00M	2,979.00M	2,930.00M	2,739.00M	2,674.00M	2,682.00M	2,512.00M	2,402.00M	2,470.00M	2,178.00M	2,091.00M
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	-4,351.00M	-7,229.00M	-16,123.00M	-4,343.00M	-11,767.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	119.00M	201.00M	0.00M	119.00M	118.00M	83.00M	121.00M	122.00M	110.00M	119.00M	106.00M	78.00M	43.30M	52.00M	59.00M	113.00M	61.00M	40.00M	22.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-1,710.00M	-3,019.00M	1,360.00M	-1,965.00M	-492.00M	660.00M	-3,702.00M	-1,560.00M	-1,352.00M	-798.00M	-740.00M	-548.00M	-640.00M	-52.00M	1,550.00M	289.00M	879.00M	-82.00M	113.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Receivable	168.00M	-2,587.00M	565.00M	-1,682.00M	-307.00M	813.00M	-3,583.00M	-1,372.00M	-1,183.00M	-767.00M	-625.00M	-513.00M	-538.00M	36.00M	0.00M	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	-603.00M	-432.00M	-11.00M	-283.00M	-185.00M	-153.00M	-119.00M	-188.00M	-169.00M	-31.00M	-115.00M	-35.00M	-102.00M	-88.00M	-81.00M	-72.00M	-5.00M	-350.00M	-34.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	-655.00M	0.00M	866.00M	-11.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-620.00M	0.00M	-60.00M	11.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1,631.00M	361.00M	884.00M	268.00M	147.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-7,098.00M	-16,819.00M	-4,785.00M	-846.00M	-8,730.00M	-9,015.00M	3,797.00M	1,312.00M	-8,801.00M	-1,402.00M	3,388.00M	-1,432.00M	-2,451.30M	-1,633.00M	-10.00M	-71.00M	10,911.00M	11.00M	9,339.00M	-11,956.00M	-5,033.00M	-5,943.00M	-2,522.00M	-3,015.00M	-2,454.00M	-2,307.00M	-2,404.00M
Net Cash from Operating Activities	30,724.00M	13,884.00M	18,491.00M	11,197.00M	6,757.00M	7,472.00M	772.00M	17,043.00M	10,950.00M	19,603.00M	17,135.00M	14,941.00M	16,044.00M	14,764.00M	13,539.00M	11,024.00M	10,907.00M	8,107.00M	8,921.00M	5,965.00M	5,400.00M	5,189.00M	4,486.00M	3,837.00M	4,228.00M	4,155.00M	3,756.00M
Capital Expenditures (PPE)	-35,183.00M	-29,184.00M	-19,416.00M	-12,333.00M	-19,284.00M	-8,642.00M	-6,122.00M	-9,023.00M	-6,512.00M	-7,810.00M	-11,350.00M	-21,061.00M	-10,862.00M	-12,989.00M	-11,875.00M	-10,043.00M	-12,336.00M	-5,341.00M	-5,807.00M	-2,481.00M	-2,903.00M	-3,454.00M	-2,889.00M	-2,670.00M	0.00M	0.00M	0.00M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	44.00M	0.00M	0.00M	0.00M	2,795.00M	2,149.00M	84.00M	-72.00M	-515.00M	0.00M	0.00M	997.00M	0.00M	0.00M	-6.00M	0.00M	0.00M
Purchases of Investments	-400.00M	0.00M	-1,893.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-260.00M	-160.00M	-3,844.00M	-47.00M	-147.00M	-369.00M	-294.00M	-114.00M	-202.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	445.00M	0.00M	0.00M	203.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2,846.00M	1,094.00M	159.00M	283.00M	100.00M	202.00M	106.00M	133.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	713.00M	25,967.00M	1,042.00M	4,406.00M	17,297.00M	14,616.00M	5,447.00M	711.00M	-5,153.00M	8,710.00M	-5,812.00M	3,015.00M	11,993.00M	4,494.00M	-981.00M	-2,095.00M	7,225.00M	13,204.00M	3,830.00M	-5,836.00M	321.00M	1,594.00M	2,544.00M	875.00M	-2,348.00M	-5,728.00M	-5,758.00M
Net Cash from Investing Activities	-34,425.00M	-3,217.00M	-20,267.00M	-7,724.00M	-1,987.00M	5,974.00M	-675.00M	-8,312.00M	-11,665.00M	900.00M	-17,118.00M	-18,046.00M	1,131.00M	-8,495.00M	-7,475.00M	-9,055.00M	-8,712.00M	8,027.00M	-2,539.00M	-8,484.00M	-2,770.00M	-844.00M	-547.00M	-1,795.00M	-2,354.00M	-5,728.00M	-5,758.00M
Net Debt Issuance	35,179.00M	1,767.00M	16,928.00M	11,878.00M	4,768.00M	-6,583.00M	10,377.00M	-1,678.00M	-1,543.00M	1,490.00M	19,481.00M	150.00M	-3,649.00M	1,223.00M	-5,511.00M	281.00M	2,763.00M	-683.00M	-4,288.00M	5,542.00M	1,180.00M	1,079.00M	-2,287.00M	-1,362.00M	2,332.00M	4,310.00M	4,125.00M
Long-Term Debt Issuance	22,146.00M	1,767.00M	16,928.00M	11,878.00M	4,917.00M	-6,583.00M	10,377.00M	-1,513.00M	-1,548.00M	1,490.00M	19,481.00M	150.00M	-3,649.00M	1,223.00M	385.00M	1,979.00M	2,763.00M	-683.00M	-4,288.00M	-141.00M	-5,749.00M	-2,721.00M	-4,372.00M	-8,803.00M	-1,399.00M	-6,843.00M	-3,703.00M
Short-Term Debt Issuance	13,033.00M	0.00M	0.00M	0.00M	-149.00M	0.00M	0.00M	-165.00M	5.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-5,896.00M	-1,698.00M	0.00M	0.00M	0.00M	5,542.00M	6,929.00M	3,800.00M	-1.00M	7,441.00M	3,731.00M	11,153.00M	7,828.00M
Net Stock Issuance	-322.00M	-200.00M	-207.00M	-93.00M	-109.00M	-116.00M	-86.00M	-88.00M	-239.00M	0.00M	746.00M	-150.00M	0.00M	136.00M	186.00M	34.00M	63.00M	16.00M	26.00M	23.00M	36.00M	46.00M	68.00M	88.00M	37.00M	18.00M	0.00M
Common Stock Issuance	0.00M	0.00M	-207.00M	0.00M	-109.00M	67.00M	77.00M	96.00M	162.00M	341.00M	845.00M	569.00M	377.00M	136.00M	186.00M	34.00M	63.00M	16.00M	26.00M	23.00M	36.00M	46.00M	68.00M	88.00M	37.00M	18.00M	0.00M
Common Stock Repurchased	-322.00M	-200.00M	-207.00M	-93.00M	-109.00M	-116.00M	-86.00M	-88.00M	-239.00M	0.00M	-99.00M	-150.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	-67.00M	-77.00M	-96.00M	-162.00M	0.00M	0.00M	-569.00M	0.00M	0.00M	0.00M	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	-21,082.00M	-15,727.00M	-7,946.00M	-7,595.00M	-8,562.00M	-7,165.00M	-6,808.00M	-6,649.00M	-1,281.00M	-15,358.00M	-18,508.00M	-5,748.00M	-4,944.00M	-4,580.00M	-4,398.00M	-3,754.00M	-1,814.00M	-1,362.00M	-1,265.00M	-1,168.00M	-1,155.00M	-1,138.00M	-1,079.00M	-415.00M	-847.00M	-601.00M	0.00M
Common Dividends Paid	-21,082.00M	-15,727.00M	-7,946.00M	-7,595.00M	-8,562.00M	-7,165.00M	-6,808.00M	-6,649.00M	-1,281.00M	-15,358.00M	-18,508.00M	-5,748.00M	-4,944.00M	-4,580.00M	-4,398.00M	-3,754.00M	-1,814.00M	-1,362.00M	-1,265.00M	-1,168.00M	-1,155.00M	-1,138.00M	-1,079.00M	-415.00M	-847.00M	-601.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	23,335.00M	3,987.00M	-272.00M	-2,317.00M	-668.00M	-667.00M	-639.00M	-713.00M	-761.00M	-339.00M	-627.00M	-165.00M	-378.00M	-944.00M	5,337.00M	1,189.00M	-6,593.00M	-6,611.00M	-695.00M	-1,609.00M	-2,718.00M	-4,245.00M	-747.00M	-1,673.00M	-1,878.00M	466.00M	-119.00M
Net Cash from Financing Activities	37,110.00M	-10,173.00M	8,503.00M	1,873.00M	-4,571.00M	-14,531.00M	2,844.00M	-9,128.00M	-3,824.00M	-14,207.00M	1,092.00M	-5,913.00M	-8,971.00M	-4,165.00M	-4,386.00M	-2,250.00M	-5,581.00M	-9,774.00M	-6,222.00M	2,788.00M	-2,670.00M	-4,258.00M	-4,045.00M	-3,362.00M	-356.00M	4,193.00M	4,006.00M
Effect of FX on Cash	-948.00M	-900.00M	-466.00M	82.00M	-710.00M	-42.00M	592.00M	-122.00M	-535.00M	606.00M	-299.00M	-168.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-2,584.00M	-1,958.00M
Net Change in Cash	59,832.00M	677.00M	6,261.00M	5,334.00M	-511.00M	-1,127.00M	3,533.00M	-519.00M	-5,074.00M	6,902.00M	810.00M	-9,186.00M	8,204.00M	2,104.00M	1,678.00M	-281.00M	-3,386.00M	6,360.00M	160.00M	269.00M	-40.00M	87.00M	-106.00M	-1,320.00M	1,518.00M	36.00M	46.00M
Cash at Beginning of Period	59,040.00M	50,661.00M	15,575.00M	10,241.00M	10,752.00M	11,879.00M	8,346.00M	8,865.00M	13,939.00M	7,037.00M	6,227.00M	15,413.00M	7,209.00M	5,105.00M	3,427.00M	3,708.00M	7,094.00M	734.00M	574.00M	305.00M	345.00M	258.00M	364.00M	1,684.00M	166.00M	130.00M	84.00M
Cash at End of Period	118,872.00M	51,338.00M	21,836.00M	15,575.00M	10,241.00M	10,752.00M	11,879.00M	8,346.00M	8,865.00M	13,939.00M	7,037.00M	6,227.00M	15,413.00M	7,209.00M	5,105.00M	3,427.00M	3,708.00M	7,094.00M	734.00M	574.00M	305.00M	345.00M	258.00M	364.00M	1,684.00M	166.00M	130.00M
Operating Cash Flow	32,299.00M	13,884.00M	18,491.00M	11,197.00M	6,757.00M	7,472.00M	772.00M	17,043.00M	10,950.00M	19,603.00M	17,135.00M	14,941.00M	16,044.00M	14,764.00M	13,539.00M	11,024.00M	10,907.00M	8,107.00M	8,921.00M	5,965.00M	5,400.00M	5,189.00M	4,486.00M	3,837.00M	4,228.00M	4,155.00M	3,756.00M
Capital Expenditure	-35,084.00M	-29,184.00M	-19,416.00M	-12,333.00M	-19,284.00M	-8,642.00M	-6,122.00M	-9,023.00M	-6,512.00M	-7,810.00M	-11,350.00M	-21,061.00M	-10,862.00M	-12,989.00M	-11,875.00M	-10,043.00M	-12,336.00M	-5,341.00M	-5,807.00M	-2,481.00M	-2,903.00M	-3,454.00M	-2,889.00M	-2,670.00M	0.00M	0.00M	0.00M
Free Cash Flow	-2,785.00M	-15,300.00M	-925.00M	-1,136.00M	-12,527.00M	-1,170.00M	-5,350.00M	8,020.00M	4,438.00M	11,793.00M	5,785.00M	-6,120.00M	5,182.00M	1,775.00M	1,664.00M	981.00M	-1,429.00M	2,766.00M	3,114.00M	3,484.00M	2,497.00M	1,735.00M	1,597.00M	1,167.00M	4,228.00M	4,155.00M	3,756.00M

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	43,391.00M	17,182.00M	18,131.00M	14,020.00M	6,778.00M	7,091.00M	4,110.00M	13,916.00M	23,869.00M	24,827.00M	21,397.00M	19,983.00M	18,769.00M	17,532.00M	13,321.00M	20,473.00M	18,759.00M	17,158.00M	16,859.00M	13,246.00M	12,023.00M	11,628.00M	10,696.00M	9,829.00M	9,972.00M	9,591.00M	9,441.00M
(-) Tax Adjustment	8,049.69M	2,811.22M	3,211.11M	2,285.16M	927.66M	1,342.78M	0.00M	1,948.60M	3,002.84M	4,077.41M	3,599.70M	2,907.45M	2,560.95M	2,122.23M	1,620.19M	3,268.68M	3,291.28M	2,800.33M	1,395.11M	2,235.83M	1,850.20M	1,799.02M	1,440.95M	1,414.41M	2.37M	0.00M	0.00M
(-) Change In Working Capital	-1,710.00M	-3,019.00M	1,360.00M	-1,965.00M	-492.00M	660.00M	-3,702.00M	-1,560.00M	-1,352.00M	-798.00M	-740.00M	-548.00M	-640.00M	-52.00M	1,550.00M	289.00M	879.00M	-82.00M	113.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Capital Expenditure	-35,084.00M	-29,184.00M	-19,416.00M	-12,333.00M	-19,284.00M	-8,642.00M	-6,122.00M	-9,023.00M	-6,512.00M	-7,810.00M	-11,350.00M	-21,061.00M	-10,862.00M	-12,989.00M	-11,875.00M	-10,043.00M	-12,336.00M	-5,341.00M	-5,807.00M	-2,481.00M	-2,903.00M	-3,454.00M	-2,889.00M	-2,670.00M	0.00M	0.00M	0.00M
Unlevered Free Cash Flow	1,967.31M	-11,794.22M	-5,856.11M	1,366.84M	-12,941.66M	-3,553.78M	1,690.00M	4,504.40M	15,706.16M	13,737.59M	7,187.30M	-3,437.45M	5,986.05M	2,472.77M	-1,724.19M	6,872.32M	2,252.72M	9,098.67M	9,543.89M	8,529.17M	7,269.80M	6,374.98M	6,366.05M	5,744.59M	9,969.63M	9,591.00M	9,441.00M
(-) Net Interest Income After Taxes	-1,188.33M	-3,036.08M	-970.19M	-973.44M	-933.91M	-910.34M	-1,086.00M	-812.68M	-938.89M	-899.29M	-555.62M	-669.08M	-650.26M	-732.17M	-868.71M	-635.30M	-1,019.97M	-1,066.91M	-1,832.66M	-1,093.87M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	35,179.00M	1,767.00M	16,928.00M	11,878.00M	4,768.00M	-6,583.00M	10,377.00M	-1,678.00M	-1,543.00M	1,490.00M	19,481.00M	150.00M	-3,649.00M	1,223.00M	-5,511.00M	281.00M	2,763.00M	-683.00M	-4,288.00M	5,542.00M	1,180.00M	1,079.00M	-2,287.00M	-1,362.00M	2,332.00M	4,310.00M	4,125.00M
Levered Free Cash Flow	38,334.64M	-6,991.14M	12,042.08M	14,218.28M	-7,239.74M	-9,226.43M	13,153.00M	3,639.07M	15,102.05M	16,126.87M	27,223.92M	-2,618.37M	2,987.31M	4,427.94M	-6,366.48M	7,788.62M	6,035.69M	9,482.58M	7,088.55M	15,165.04M	8,449.80M	7,453.98M	4,079.05M	4,382.59M	12,301.63M	13,901.00M	13,566.00M