China Electronics Huada Technology Company Limited (0085.HK)

Industry: Semiconductors Sector: Technology Currency Used: HK Live Price: $1.45

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
Stock Price	1.26	1.41	1.11	0.83	0.81	0.66	0.89	1.31	1.71	3.52	1.71	1.47	0.64	0.71	1.06	0.98	1.27	3.09	1.00	1.39	2.54	2.92
Market Capitalization	2,547.50M	2,862.12M	2,253.16M	1,674.64M	1,634.05M	1,329.57M	1,806.61M	2,649.01M	3,471.08M	7,145.27M	2,976.64M	2,486.62M	1,082.60M	1,192.55M	1,793.05M	1,592.53M	1,491.28M	3,356.53M	1,087.02M	1,500.56M	2,455.79M	2,456.12M
(-) Cash & Equivalents	1,059.18M	1,161.85M	911.82M	624.32M	507.01M	290.22M	337.45M	415.29M	989.15M	697.23M	1,044.57M	633.96M	431.86M	316.77M	300.79M	416.43M	171.56M	195.87M	209.90M	153.19M	108.72M	7.81M
(+) Total Debt	480.94M	563.48M	667.15M	734.10M	1,578.04M	2,309.68M	2,316.61M	2,312.28M	3,564.64M	3,981.76M	4,386.76M	0.69M	1.23M	24.36M	23.22M	290.01M	225.41M	197.06M	0.00M	115.38M	196.12M	103.09M
Enterprise Value	1,969.26M	2,263.76M	2,008.48M	1,784.43M	2,705.08M	3,349.03M	3,785.77M	4,546.01M	6,046.57M	10,429.80M	6,318.84M	1,853.35M	651.97M	900.13M	1,515.48M	1,466.11M	1,545.12M	3,357.71M	877.12M	1,462.75M	2,543.19M	2,551.40M

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
Revenue	4,117M	5,135M	2,349M	3,019M	2,483M	1,682M	1,325M	1,695M	1,687M	1,453M	1,359M	1,720M	1,352M	1,322M	1,156M	995M	575M	461M	2,267M	3,168M	3,549M	4,769M	4,590M	2,862M
Cost of Revenue	2,367M	2,866M	1,214M	1,721M	1,421M	1,137M	908M	1,200M	1,156M	953M	853M	1,117M	773M	729M	704M	666M	362M	288M	1,827M	2,608M	3,317M	4,516M	4,353M	2,707M
Gross Profit	1,750M	2,269M	1,135M	1,298M	1,062M	544M	417M	496M	531M	500M	506M	603M	578M	593M	452M	329M	212M	173M	440M	560M	232M	252M	237M	155M
Gross Profit Margin	42.5%	44.2%	48.3%	43.0%	42.8%	32.4%	31.5%	29.2%	31.5%	34.4%	37.2%	35.0%	42.8%	44.9%	39.1%	33.1%	37.0%	37.5%	19.4%	17.7%	6.5%	5.3%	5.2%	5.4%
R&D Expenses	768M	675M	448M	421M	318M	247M	194M	214M	212M	225M	277M	397M	214M	213M	0M	0M	94M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	763M	359M	609M	612M	534M	471M	394M	429M	434M	430M	513M	595M	342M	431M	258M	231M	75M	151M	641M	591M	168M	169M	149M	80M
Operating Expenses	992M	1,034M	483M	541M	480M	431M	369M	396M	294M	189M	35M	465M	283M	230M	229M	199M	151M	113M	749M	581M	168M	169M	140M	84M
Operating Income (EBIT)	758M	1,235M	652M	757M	582M	113M	48M	100M	236M	311M	471M	138M	296M	363M	222M	130M	61M	60M	-309M	-21M	65M	83M	98M	71M
Operating Income Margin	18.4%	24.0%	27.8%	25.1%	23.4%	6.7%	3.6%	5.9%	14.0%	21.4%	34.6%	8.0%	21.9%	27.5%	19.2%	13.1%	10.7%	13.0%	-13.6%	-0.7%	1.8%	1.7%	2.1%	2.5%
Interest Income	109M	72M	55M	56M	33M	23M	18M	12M	6M	9M	71M	96M	104M	10M	4M	1M	2M	1M	9M	11M	8M	0M	0M	0M
Interest Expense	71M	76M	38M	43M	39M	29M	100M	103M	98M	102M	189M	181M	181M	25M	1M	0M	0M	0M	34M	9M	6M	12M	83M	6M
Net Interest Income	38M	-4M	17M	14M	-7M	-7M	-83M	-91M	-92M	-93M	-118M	-84M	-78M	-15M	3M	1M	2M	1M	-24M	2M	2M	-12M	-83M	-6M
Unusual Items	23M	49M	-35M	-34M	32M	6M	-1,059M	25M	0M	0M	71M	0M	0M	0M	0M	0M	0M	0M	0M	0M	5M	19M	0M	0M
EBT Excluding Unusual Items	796M	1,230M	669M	771M	575M	107M	-35M	9M	144M	218M	353M	53M	218M	348M	226M	131M	63M	61M	-333M	-19M	66M	71M	15M	64M
Pre-Tax Income	819M	1,280M	634M	737M	607M	113M	-1,094M	34M	144M	218M	424M	53M	218M	348M	226M	131M	63M	61M	-333M	-19M	72M	90M	15M	64M
Pre-Tax Margin	19.9%	24.9%	27.0%	24.4%	24.4%	6.7%	-82.6%	2.0%	8.6%	15.0%	31.2%	3.1%	16.1%	26.3%	19.5%	13.2%	11.0%	13.2%	-14.7%	-0.6%	2.0%	1.9%	0.3%	2.3%
Income Tax Expense	24M	129M	45M	49M	75M	-15M	9M	-3M	28M	-4M	9M	30M	45M	58M	28M	17M	3M	7M	113M	-32M	2M	6M	9M	5M
Net Income	790M	1,151M	588M	686M	531M	125M	-1,013M	155M	113M	220M	412M	60M	170M	224M	198M	115M	60M	41M	-447M	8M	69M	84M	6M	59M
Net Income Margin	19.2%	22.4%	25.0%	22.7%	21.4%	7.5%	-76.5%	9.2%	6.7%	15.1%	30.4%	3.5%	12.6%	16.9%	17.1%	11.5%	10.4%	8.9%	-19.7%	0.3%	1.9%	1.8%	0.1%	2.1%
Depreciation & Amortization	105M	145M	20M	85M	75M	64M	60M	66M	45M	44M	52M	33M	19M	11M	17M	14M	0M	35M	36M	44M	-5M	-19M	0M	0M
EBITDA	863M	1,380M	672M	843M	656M	177M	108M	166M	281M	355M	523M	171M	315M	375M	239M	144M	61M	95M	-273M	23M	60M	64M	98M	71M
EBITDA Margin	21.0%	26.9%	28.6%	27.9%	26.4%	10.5%	8.2%	9.8%	16.7%	24.5%	38.5%	9.9%	23.3%	28.3%	20.7%	14.5%	10.7%	20.6%	-12.0%	0.7%	1.7%	1.4%	2.1%	2.5%
NOPAT	736M	1,110M	606M	707M	510M	128M	38M	108M	191M	317M	460M	60M	234M	302M	195M	114M	58M	53M	-244M	-17M	63M	78M	42M	65M
NOPAT Margin	17.9%	21.6%	25.8%	23.4%	20.5%	7.6%	2.9%	6.4%	11.3%	21.8%	33.9%	3.5%	17.3%	22.9%	16.9%	11.4%	10.2%	11.4%	-10.8%	-0.5%	1.8%	1.6%	0.9%	2.3%
Owner's Earnings	726M	1,171M	517M	686M	570M	114M	-979M	203M	148M	225M	392M	-6M	135M	190M	194M	114M	47M	55M	-450M	32M	32M	39M	-76M	59M
Owner's Earnings Margin	17.6%	22.8%	22.0%	22.7%	23.0%	6.8%	-73.9%	12.0%	8.8%	15.5%	28.9%	-0.3%	10.0%	14.4%	16.8%	11.5%	8.2%	12.1%	-19.8%	1.0%	0.9%	0.8%	-1.7%	2.1%
EPS (Basic)	0.39	0.56	0.29	0.34	0.26	0.06	-0.50	0.08	0.06	0.11	0.20	0.03	0.10	0.17	0.12	0.07	0.04	0.03	-0.30	0.08	0.04	0.05	-0.02	0.05
EPS (Diluted)	0.39	0.57	0.29	0.34	0.26	0.06	-0.50	0.08	0.06	0.11	0.20	0.03	0.10	0.13	0.12	0.07	0.04	0.03	-0.30	0.01	0.06	0.08	0.01	0.07
Shares (Basic)	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	1,781M	1,692M	1,692M	1,692M	1,692M	1,544M	1,477M	1,084M	1,084M	1,082M	888M	816M
Shares (Diluted)	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	2,030M	1,781M	1,692M	1,692M	1,692M	1,692M	1,544M	1,477M	1,090M	1,084M	1,082M	888M	816M

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
Cash & Cash Equivalents	1,027.58M	743.04M	743.04M	1,107.52M	1,206.61M	519.34M	526.64M	350.22M	375.53M	373.83M	1,778.67M	777.07M	534.13M	791.78M	476.62M	329.45M	267.29M	397.42M	343.13M	391.74M	419.81M	306.38M	217.43M	23.44M
Short-Term Investments	657.39M	941.64M	941.64M	684.16M	698.28M	487.89M	669.54M	465.14M	133.33M	213.49M	164.85M	1,993.91M	3,373.10M	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	1,684.96M	1,684.68M	1,684.68M	1,791.68M	1,904.89M	1,007.23M	1,196.18M	815.36M	508.86M	587.32M	1,943.52M	2,770.98M	3,907.23M	791.78M	476.62M	329.45M	267.29M	397.42M	343.13M	391.74M	419.81M	306.38M	217.43M	23.44M
Net Receivables	695.14M	574.07M	574.07M	574.29M	731.54M	747.65M	542.36M	694.16M	715.70M	740.10M	956.59M	1,091.68M	850.83M	783.08M	0.00M	401.95M	0.00M	0.00M	670.16M	812.62M	472.17M	1,073.08M	903.52M	0.00M
Inventory	833.03M	847.66M	847.66M	848.62M	884.69M	531.65M	500.11M	460.61M	603.68M	406.09M	257.01M	296.37M	454.51M	381.24M	308.19M	268.46M	261.31M	84.61M	468.29M	444.19M	335.80M	447.03M	388.62M	254.73M
Other Current Assets	75.53M	0.00M	0.00M	0.00M	-177.83M	-186.03M	57.49M	0.00M	715.70M	761.25M	956.59M	3,063.72M	850.83M	783.08M	487.10M	2.72M	280.46M	208.51M	25.80M	64.53M	21.01M	11.87M	27.87M	1,010.08M
Total Current Assets	3,288.66M	3,106.41M	3,106.41M	3,214.58M	3,343.30M	2,100.51M	2,296.13M	1,970.13M	2,543.93M	2,494.75M	4,113.72M	7,222.74M	6,063.39M	2,739.18M	1,271.90M	1,002.58M	809.06M	690.54M	1,507.37M	1,713.08M	1,248.79M	1,838.36M	1,537.44M	1,288.25M
Property, Plant & Equipment	88.26M	100.71M	100.71M	47.36M	77.15M	107.34M	106.84M	116.06M	367.60M	420.35M	429.68M	450.83M	414.63M	42.19M	21.21M	16.99M	21.25M	22.33M	47.13M	41.05M	61.69M	79.05M	119.40M	88.02M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	54.85M	66.63M	66.63M	64.64M	23.41M	55.95M	35.85M	1.96M	13.36M	15.18M	17.90M	28.65M	24.43M	6.50M	3.67M	4.28M	3.96M	3.98M	15.69M	16.14M	16.25M	14.11M	3.50M	3.84M
Long-Term Investments	667.81M	657.84M	657.84M	928.82M	356.26M	317.62M	69.06M	2,756.18M	2,665.78M	2,786.43M	2,463.45M	8.16M	79.38M	61.61M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	50.45M	55.82M	55.82M	71.39M	44.95M	73.56M	50.62M	42.12M	38.02M	18.72M	1.59M	0.50M	60.17M	45.87M	41.95M	28.56M	21.00M	12.92M	49.24M	46.69M	8.92M	4.51M	0.00M	0.00M
Other Non-Current Assets	82.83M	186.58M	186.58M	0.00M	0.00M	0.00M	0.00M	0.00M	-38.02M	-18.72M	-1.59M	-0.50M	-60.17M	-45.87M	2.47M	2.47M	2.88M	3.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	86.87M	92.18M	16.97M	93.14M	976.63M	551.15M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	944.20M	1,067.59M	1,067.59M	1,112.20M	501.77M	554.46M	262.36M	2,916.32M	3,133.61M	3,314.15M	2,928.00M	580.78M	1,495.07M	661.45M	69.30M	52.30M	49.09M	42.25M	112.05M	103.88M	86.85M	97.68M	122.90M	91.86M
Total Assets	4,232.87M	4,174.00M	4,174.00M	4,326.79M	3,845.06M	2,654.97M	2,558.50M	4,886.45M	5,677.54M	5,808.90M	7,041.72M	7,803.52M	7,558.46M	3,400.63M	1,341.20M	1,054.88M	858.15M	732.79M	1,619.42M	1,816.96M	1,335.64M	1,936.04M	1,660.34M	1,380.11M
Accounts Payable	1,195.73M	979.39M	979.39M	390.46M	602.47M	639.78M	284.10M	312.49M	401.97M	415.74M	335.42M	266.31M	227.69M	285.09M	243.89M	218.97M	201.83M	122.83M	472.91M	741.03M	513.52M	1,129.19M	768.24M	783.65M
Short-Term Debt	383.84M	378.02M	378.02M	496.57M	615.72M	672.70M	712.30M	2,187.99M	2,295.30M	2,314.47M	3,547.12M	17.90M	66.04M	442.41M	1.23M	24.67M	23.50M	22.72M	450.81M	394.11M	0.00M	230.77M	392.23M	309.26M
Tax Payables	0.00M	0.00M	0.00M	0.05M	0.06M	0.10M	12.75M	6.84M	12.16M	38.10M	35.76M	40.23M	102.77M	7.66M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.04M	5.57M	3.54M	2.67M
Deferred Revenue	0.00M	0.00M	0.00M	386.63M	383.52M	34.97M	11.76M	6.36M	13.38M	10.46M	3.13M	3.17M	-66.04M	-0.13M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.57M	3.54M	2.67M
Other Current Liabilities	82.63M	154.07M	154.07M	473.15M	390.71M	138.08M	333.48M	211.90M	223.25M	42.33M	37.66M	1,307.53M	155.55M	427.47M	78.99M	122.24M	106.34M	124.21M	153.80M	77.26M	218.99M	2.11M	2.21M	1.17M
Total Current Liabilities	1,662.20M	1,511.48M	1,511.48M	1,746.87M	1,992.47M	1,485.63M	1,354.39M	2,725.58M	2,946.06M	2,821.10M	3,959.10M	1,635.15M	486.00M	1,162.50M	324.11M	365.88M	331.68M	269.76M	1,077.52M	1,212.40M	734.55M	1,373.22M	1,169.76M	1,099.41M
Long-Term Debt	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3,258.48M	4,703.14M	66.14M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	35.81M	45.03M	45.03M	12.24M	11.80M	27.44M	37.94M	32.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	46.21M	46.21M	44.16M	33.79M	14.92M	12.47M	12.92M	24.51M	3.21M	7.81M	5.69M	7.09M	7.74M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	66.80M	97.51M	97.51M	371.17M	319.55M	7.58M	15.94M	0.00M	0.00M	0.00M	0.00M	5.69M	7.09M	12.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	102.62M	188.75M	188.75M	427.58M	365.13M	49.93M	66.35M	45.10M	24.51M	3.21M	7.81M	3,269.85M	4,717.33M	86.68M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Liabilities	1,764.82M	1,700.23M	1,700.23M	2,174.44M	2,357.60M	1,535.56M	1,420.74M	2,770.69M	2,970.57M	2,824.31M	3,966.91M	4,905.00M	5,203.33M	1,249.18M	324.11M	365.88M	331.68M	269.76M	1,077.52M	1,212.40M	734.55M	1,373.22M	1,169.76M	1,099.41M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.94M	0.00M	25.27M	0.00M	661.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	225.45M	225.45M	225.45M	20.30M	20.30M	20.30M	20.30M	20.30M	20.30M	20.30M	20.30M	20.30M	20.30M	16.92M	889.17M	889.17M	889.17M	889.17M	370.07M	370.07M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	0.00M	2,264.31M	2,264.31M	2,633.07M	1,203.51M	672.08M	171.22M	1,219.00M	1,842.01M	1,789.59M	1,630.38M	1,160.53M	913.32M	743.21M	237.23M	39.65M	-75.01M	-138.00M	-185.32M	29.89M	39.15M	24.88M	0.00M	0.00M
Accumulated OCI	2,213.27M	2,217.80M	2,217.80M	-34.54M	158.95M	312.65M	54.19M	-45.45M	-1.94M	191.32M	-25.27M	160.33M	-661.80M	151.51M	-25.28M	-20.58M	0.00M	-15.68M	-389.05M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	29.32M	27.77M	27.77M	27.66M	27.06M	26.11M	23.81M	20.06M	18.79M	16.39M	12.87M	114.84M	24.86M	27.92M	0.00M	0.00M	0.00M	0.00M	21.10M	129.07M	138.78M	138.38M	124.88M	99.18M
Total Shareholders’ Equity	2,438.73M	4,707.56M	4,707.56M	2,618.83M	1,382.77M	1,005.03M	245.70M	1,193.85M	1,862.31M	2,001.20M	1,650.68M	1,341.16M	933.62M	911.64M	1,101.12M	908.24M	814.16M	735.49M	-204.30M	399.96M	39.15M	24.88M	0.00M	0.00M
Total Equity	2,468.05M	4,735.33M	4,735.33M	2,646.49M	1,409.82M	1,031.14M	269.51M	1,213.91M	1,881.10M	2,017.59M	1,663.56M	1,455.99M	958.47M	939.56M	1,101.12M	908.24M	814.16M	735.49M	-183.20M	529.03M	177.93M	163.26M	124.88M	99.18M
Total Liabilities & Equity	4,232.86M	6,435.56M	6,435.56M	4,820.93M	3,767.42M	2,566.70M	1,690.25M	3,984.59M	4,851.67M	4,841.90M	5,630.46M	6,361.00M	6,161.80M	2,188.74M	1,425.23M	1,274.12M	1,145.84M	1,005.25M	894.33M	1,741.43M	912.48M	1,536.47M	1,294.64M	1,198.59M
Tangible Assets	4,178.02M	4,107.37M	4,107.37M	4,262.15M	3,821.65M	2,599.02M	2,522.65M	4,884.49M	5,664.18M	5,793.72M	7,023.81M	7,774.87M	7,534.03M	3,394.13M	1,337.53M	1,050.60M	854.19M	728.81M	1,603.74M	1,800.82M	1,319.39M	1,921.92M	1,656.85M	1,376.27M
Tangible Equity	2,413.20M	4,668.70M	4,668.70M	2,581.85M	1,386.41M	975.19M	233.66M	1,211.95M	1,867.74M	2,002.40M	1,645.65M	1,427.34M	934.04M	933.07M	1,097.45M	903.96M	810.20M	731.51M	-198.88M	512.89M	161.68M	149.15M	121.39M	95.34M
Tangible Book Value	2,413.20M	4,668.70M	4,668.70M	2,581.85M	1,386.41M	975.19M	233.66M	1,211.95M	1,867.74M	2,002.40M	1,645.65M	1,427.34M	934.04M	933.07M	1,097.45M	903.96M	810.20M	731.51M	-198.88M	512.89M	161.68M	149.15M	121.39M	95.34M
Total Investments	1,325.20M	1,599.48M	1,599.48M	1,612.98M	1,088.40M	805.51M	799.83M	3,221.32M	2,757.08M	2,999.92M	2,628.30M	2,002.08M	3,452.48M	61.61M	2.47M	2.47M	0.52M	0.74M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt	-643.74M	-365.02M	-365.02M	-610.95M	-590.89M	153.37M	185.66M	1,837.77M	1,919.77M	1,940.64M	1,768.45M	2,499.32M	4,235.05M	-283.23M	-475.39M	-304.78M	-243.78M	-374.71M	107.68M	2.37M	-419.81M	-75.61M	174.80M	285.82M

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
Working Capital	1,593.9M	1,563.6M	1,563.6M	1,459.9M	1,538.7M	769.5M	916.4M	-814.5M	-1,167.9M	-1,258.1M	-1,239.5M	4,234.4M	4,317.0M	629.3M	736.5M	555.3M	423.7M	362.1M	171.6M	497.0M	516.3M	470.7M	371.2M	191.5M
Total Capital	2,858.4M	2,866.3M	2,866.3M	2,627.4M	2,276.9M	1,979.5M	1,867.9M	4,278.5M	4,217.7M	4,340.0M	5,214.9M	4,712.5M	5,846.2M	1,184.0M	807.0M	632.2M	496.3M	427.0M	713.3M	865.9M	464.4M	660.8M	761.5M	493.5M
Capital Employed	2,538.2M	2,631.2M	2,631.2M	2,572.1M	2,040.5M	1,323.9M	1,178.7M	2,101.9M	1,965.7M	2,056.0M	1,688.5M	4,815.1M	5,812.1M	1,290.8M	805.8M	607.6M	472.8M	404.3M	283.6M	600.8M	603.1M	568.4M	494.1M	283.4M
Invested Capital	1,830.8M	2,123.3M	2,123.3M	1,519.9M	1,070.3M	1,460.1M	1,341.3M	3,928.3M	3,842.2M	3,966.2M	3,436.2M	3,935.5M	5,312.0M	392.2M	330.4M	302.8M	229.0M	29.6M	370.2M	474.1M	44.6M	354.4M	544.0M	470.0M

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
Net Income	790.33M	1,150.50M	633.77M	686.43M	531.43M	125.44M	-1,013.26M	155.16M	113.32M	220.10M	1,061.17M	177.35M	170.11M	291.97M	225.52M	131.23M	59.94M	41.07M	-333.46M	-19.12M	69.16M	84.35M	6.44M	59.24M
Depreciation & Amortization	57.06M	145.04M	88.46M	85.33M	74.57M	63.82M	60.29M	65.88M	38.01M	25.01M	24.07M	33.14M	18.89M	11.36M	16.98M	14.36M	0.00M	35.09M	36.04M	44.24M	0.00M	0.00M	0.00M	0.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	5.11M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.74M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	102.54M	318.47M	-257.41M	-62.22M	380.65M	-62.18M	119.34M	7.02M	-211.11M	74.12M	-21.36M	-568.36M	-230.38M	0.83M	-20.13M	-45.78M	0.00M	195.70M	234.66M	-405.12M	0.00M	0.00M	0.00M	0.00M
Accounts Receivable	207.95M	-436.40M	32.24M	191.82M	-233.72M	-202.68M	156.92M	-7.01M	26.77M	212.83M	7.22M	-496.85M	-170.04M	28.06M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-139.00M	-440.90M	70.63M	-174.31M	-414.56M	-26.34M	-64.06M	114.48M	-237.88M	-138.71M	-28.58M	-71.51M	-60.34M	-27.23M	-39.73M	-7.82M	0.00M	162.67M	-24.10M	-108.39M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	0.00M	1,062.80M	-76.46M	-87.40M	649.17M	142.88M	6.30M	-93.02M	2.54M	70.71M	-76.22M	289.89M	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	33.60M	25.95M	-283.82M	7.67M	379.76M	23.97M	20.18M	-7.43M	-2.54M	-70.71M	76.22M	-289.89M	0.00M	0.00M	19.60M	-37.96M	0.00M	33.04M	258.76M	-296.73M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-101.96M	295.89M	-190.41M	179.81M	25.62M	-40.87M	1,089.39M	-48.30M	-57.45M	-193.88M	-1,025.23M	-513.23M	-151.97M	1.45M	-32.28M	-29.32M	-188.04M	-88.96M	-13.05M	-2.37M	346.27M	210.91M	50.04M	-75.19M
Net Cash from Operating Activities	847.97M	1,619.82M	274.41M	889.35M	1,012.27M	86.23M	255.75M	179.76M	-117.23M	125.35M	38.65M	-871.10M	-193.35M	305.61M	190.09M	70.49M	-128.10M	182.90M	-75.82M	-375.52M	415.43M	295.26M	56.49M	-15.95M
Capital Expenditures (PPE)	-102.62M	-124.79M	-90.35M	-86.18M	-35.73M	-74.96M	-26.10M	-18.41M	-10.35M	-39.71M	-72.68M	-99.41M	-53.83M	-45.55M	-20.66M	-15.02M	-12.72M	-20.66M	-39.15M	-19.93M	-32.26M	-26.94M	-82.65M	-0.33M
Acquisitions (Net)	0.00M	20.61M	0.00M	0.00M	0.47M	20.20M	13.15M	276.03M	1.75M	114.14M	76.30M	-67.88M	65.63M	0.00M	0.00M	1.32M	0.00M	-216.06M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-317.60M	-481.18M	-218.13M	-584.33M	-167.66M	-6.26M	-264.37M	-422.19M	-541.12M	-579.44M	-1,900.41M	-759.94M	-280.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	443.97M	-380.58M	0.00M	0.00M	10.36M	5.11M	1,779.74M	92.63M	634.62M	546.81M	1,824.11M	2,156.46M	214.55M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	-402.57M	-762.98M	39.93M	33.53M	0.00M	0.00M	79.51M	11.25M	57.15M	977.85M	-877.66M	270.68M	-4,264.48M	-13.68M	3.75M	9.29M	2.97M	12.32M	9.65M	12.36M	8.15M	5.37M	1.03M	0.00M
Net Cash from Investing Activities	-378.82M	-925.40M	-268.55M	-636.98M	-192.56M	-55.91M	1,581.92M	-60.68M	142.06M	1,019.65M	950.07M	1,499.91M	-4,038.12M	-59.23M	-16.90M	-4.41M	-9.76M	-224.40M	-29.50M	-7.58M	-24.11M	-21.57M	-81.62M	-0.33M
Net Debt Issuance	-242.71M	0.00M	-109.57M	-111.09M	-25.10M	-59.64M	-1,530.82M	-58.11M	90.32M	-1,375.05M	-44.43M	-430.89M	823.92M	84.86M	-23.44M	0.00M	0.00M	48.13M	34.22M	394.11M	-230.77M	1,363.25M	82.97M	0.00M
Long-Term Debt Issuance	-22.06M	0.00M	-109.57M	-111.09M	-25.10M	-59.64M	-1,530.82M	-58.11M	90.32M	1,742.72M	0.00M	0.00M	1,456.48M	0.00M	0.00M	24.67M	22.97M	1,382.53M	1,545.86M	1,387.44M	-230.77M	-161.46M	82.97M	0.00M
Short-Term Debt Issuance	-220.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-58.11M	0.00M	-1,375.05M	-44.43M	-430.89M	-632.56M	84.86M	-23.44M	0.00M	-22.97M	-1,334.41M	-1,511.64M	-993.33M	-230.77M	-1,524.71M	0.00M	0.00M
Net 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	3,957.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	142.13M	0.00M
Common 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	3,957.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	142.13M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-3,421.24M	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	-375.53M	-38.57M	-213.14M	-162.39M	-38.57M	0.00M	-46.69M	-40.60M	-60.90M	-60.90M	-60.90M	-52.78M	-50.75M	-50.75M	0.00M	0.00M	0.00M	0.00M	0.00M	-17.34M	-25.45M	-23.28M	0.00M	0.00M
Common Dividends Paid	-375.53M	-38.57M	-213.14M	-162.39M	-38.57M	0.00M	-46.69M	-40.60M	-60.90M	-60.90M	-60.90M	-52.78M	-50.75M	-50.75M	0.00M	0.00M	0.00M	0.00M	0.00M	-17.34M	-21.67M	-23.28M	0.00M	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
Other Financing Activities	-22.13M	-67.11M	-23.94M	-23.34M	0.00M	-26.92M	-23.13M	-20.36M	0.00M	-221.08M	-699.26M	0.00M	-755.91M	-67.78M	0.00M	0.00M	0.00M	-155.72M	-156.54M	-21.75M	-25.45M	-1,524.71M	-5.98M	20.93M
Net Cash from Financing Activities	-640.37M	-105.68M	-346.64M	-296.82M	-63.67M	-86.56M	-1,600.63M	-119.07M	29.43M	-1,657.03M	-804.59M	-483.67M	3,974.79M	-33.67M	-23.44M	-24.67M	-22.97M	-107.60M	56.70M	355.03M	-277.89M	-184.74M	219.13M	20.93M
Effect of FX on Cash	640.00M	-66.57M	-23.70M	-20.78M	-67.35M	48.94M	18.89M	-25.31M	-52.56M	-26.06M	-49.28M	-22.52M	-0.96M	2.23M	-2.59M	-3.92M	7.72M	-13.64M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	-274.25M	486.89M	-364.48M	-65.23M	687.27M	-7.30M	176.42M	-25.31M	1.69M	-538.09M	134.85M	242.93M	-257.65M	315.16M	147.17M	62.17M	-130.14M	-162.74M	-48.61M	-28.07M	113.43M	88.95M	193.99M	4.65M
Cash at Beginning of Period	4,442.06M	3,072.28M	1,107.52M	1,172.75M	519.34M	526.64M	350.22M	375.53M	373.83M	911.92M	777.07M	534.13M	791.78M	476.62M	329.45M	267.29M	397.42M	560.16M	391.74M	419.81M	306.38M	217.43M	23.44M	-3.88M
Cash at End of Period	4,167.81M	3,559.16M	743.04M	1,107.52M	1,206.61M	519.34M	526.64M	350.22M	375.53M	373.83M	911.92M	777.07M	534.13M	791.78M	476.62M	329.45M	267.29M	397.42M	343.13M	391.74M	419.81M	306.38M	217.43M	0.77M
Operating Cash Flow	835.59M	1,619.82M	274.41M	889.35M	1,012.27M	86.23M	255.75M	179.76M	-117.23M	125.35M	38.65M	-871.10M	-193.35M	305.61M	190.09M	70.49M	-128.10M	182.90M	-75.82M	-375.52M	415.43M	295.26M	56.49M	-15.95M
Capital Expenditure	-169.49M	-124.79M	-90.35M	-86.18M	-35.73M	-74.96M	-26.10M	-18.41M	-10.35M	-39.71M	-72.68M	-99.41M	-53.83M	-45.55M	-20.66M	-15.02M	-12.72M	-20.66M	-39.15M	-19.93M	-32.26M	-26.94M	-82.65M	-0.33M
Free Cash Flow	666.10M	1,495.03M	184.07M	803.17M	976.54M	11.27M	229.66M	161.35M	-127.58M	85.65M	-34.03M	-970.51M	-247.18M	260.07M	169.44M	55.48M	-140.82M	162.24M	-114.97M	-395.45M	383.17M	268.32M	-26.17M	-16.28M

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
EBITDA	324.05M	1,379.88M	98.55M	349.90M	284.69M	-109.82M	-110.68M	-81.45M	-70.09M	-110.72M	-231.51M	-356.18M	41.34M	-39.37M	210.63M	113.07M	43.17M	56.49M	-164.59M	13.06M	59.59M	64.41M	88.02M	74.70M
(-) Tax Adjustment	9.42M	139.15M	7.01M	23.42M	35.18M	0.00M	0.00M	0.00M	-13.47M	0.00M	-5.16M	-124.66M	8.59M	-6.61M	26.09M	14.28M	2.18M	6.64M	0.00M	4.57M	1.96M	4.01M	30.81M	6.01M
(-) Change In Working Capital	102.54M	318.47M	-257.41M	-62.22M	380.65M	-62.18M	119.34M	7.02M	-211.11M	74.12M	-21.36M	-568.36M	-230.38M	0.83M	-20.13M	-45.78M	0.00M	195.70M	234.66M	-405.12M	0.00M	0.00M	0.00M	0.00M
(-) Capital Expenditure	-169.49M	-124.79M	-90.35M	-86.18M	-35.73M	-74.96M	-26.10M	-18.41M	-10.35M	-39.71M	-72.68M	-99.41M	-53.83M	-45.55M	-20.66M	-15.02M	-12.72M	-20.66M	-39.15M	-19.93M	-32.26M	-26.94M	-82.65M	-0.33M
Unlevered Free Cash Flow	42.61M	797.47M	258.61M	302.52M	-166.87M	-122.60M	-256.12M	-106.88M	144.13M	-224.55M	-277.67M	237.43M	209.30M	-79.14M	184.01M	129.56M	28.26M	-166.51M	-438.40M	393.68M	25.37M	33.47M	-25.44M	68.36M
(-) Net Interest Income After Taxes	36.88M	-3.99M	15.53M	12.78M	-5.83M	-6.67M	-82.82M	-91.49M	-74.32M	-93.05M	-115.43M	-54.87M	-61.61M	-12.80M	2.80M	1.12M	1.55M	1.14M	-24.37M	1.54M	1.61M	-10.79M	-53.74M	-5.96M
Net Debt Issuance	-242.71M	0.00M	-109.57M	-111.09M	-25.10M	-59.64M	-1,530.82M	-58.11M	90.32M	-1,375.05M	-44.43M	-430.89M	823.92M	84.86M	-23.44M	0.00M	0.00M	48.13M	34.22M	394.11M	-230.77M	1,363.25M	82.97M	0.00M
Levered Free Cash Flow	-236.98M	801.46M	133.51M	178.65M	-186.14M	-175.57M	-1,704.12M	-73.51M	308.78M	-1,506.55M	-206.67M	-138.58M	1,094.83M	18.52M	157.78M	128.44M	26.71M	-119.53M	-379.80M	786.25M	-207.01M	1,407.50M	111.27M	74.32M