Kingboard Holdings Limited (0148.HK)

Industry: Conglomerates Sector: Industrials Currency Used: HK Live Price: $29.20

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	18.53	19.73	27.28	40.53	26.40	23.78	24.80	36.80	19.44	12.90	14.54	18.19	17.68	24.61	33.48	20.80	20.79	34.34	22.63	19.09	12.50	6.83
Market Capitalization	20,568.86M	21,864.74M	30,242.29M	44,890.57M	29,127.57M	25,811.46M	26,655.39M	38,769.82M	20,065.06M	13,236.91M	14,912.92M	18,650.65M	18,127.48M	25,204.13M	34,006.33M	21,072.79M	23,101.63M	37,812.07M	23,706.90M	18,888.35M	10,912.79M	3,951.29M
(-) Cash & Equivalents	3,970.55M	4,417.70M	6,760.10M	5,183.50M	6,786.47M	6,644.29M	7,261.14M	7,323.97M	5,523.53M	4,435.78M	4,588.10M	5,394.80M	3,842.12M	4,645.60M	5,159.41M	2,826.10M	2,112.64M	1,747.30M	3,048.62M	613.46M	2,684.56M	744.47M
(+) Total Debt	22,455.42M	22,734.28M	19,625.27M	18,016.89M	19,209.28M	26,174.62M	26,866.53M	17,736.50M	17,413.61M	21,440.63M	22,186.58M	23,238.43M	18,536.42M	17,081.04M	11,946.37M	5,709.66M	4,851.14M	3,625.45M	2,691.42M	3,390.49M	1,561.61M	339.52M
Enterprise Value	39,053.73M	40,181.31M	43,107.46M	57,723.96M	41,550.39M	45,341.79M	46,260.78M	49,182.35M	31,955.13M	30,241.76M	32,511.40M	36,494.28M	32,821.78M	37,639.58M	40,793.29M	23,956.35M	25,840.13M	39,690.22M	23,349.71M	21,665.37M	9,789.84M	3,546.34M

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	85,694M	98,150M	43,093M	39,712M	49,376M	56,755M	43,510M	41,161M	45,994M	43,159M	35,830M	32,788M	35,906M	35,683M	37,290M	36,559M	33,892M	23,773M	23,681M	20,025M	16,773M	13,098M	7,082M	4,436M
Cost of Revenue	69,260M	71,765M	34,601M	32,120M	37,003M	37,934M	31,283M	32,147M	35,692M	33,243M	28,614M	27,993M	31,308M	31,026M	32,186M	30,736M	26,901M	18,921M	19,431M	15,178M	12,496M	9,918M	5,126M	3,450M
Gross Profit	16,434M	26,385M	8,493M	7,592M	12,373M	18,822M	12,227M	9,014M	10,302M	9,916M	7,217M	4,795M	4,597M	4,657M	5,104M	5,823M	6,991M	4,851M	4,250M	4,847M	4,277M	3,180M	1,956M	986M
Gross Profit Margin	19.2%	26.9%	19.7%	19.1%	25.1%	33.2%	28.1%	21.9%	22.4%	23.0%	20.1%	14.6%	12.8%	13.1%	13.7%	15.9%	20.6%	20.4%	17.9%	24.2%	25.5%	24.3%	27.6%	22.2%
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
SG&A Expenses	6,949M	7,402M	3,439M	3,506M	3,743M	3,725M	3,158M	3,152M	3,160M	2,856M	2,764M	2,643M	2,628M	2,438M	2,391M	2,372M	2,203M	1,980M	1,938M	1,172M	1,024M	791M	413M	293M
Operating Expenses	7,843M	7,402M	3,439M	3,506M	3,743M	3,644M	3,073M	3,298M	3,117M	2,860M	2,785M	2,705M	2,636M	2,483M	2,497M	1,779M	1,714M	1,676M	1,615M	1,722M	1,482M	1,176M	636M	399M
Operating Income (EBIT)	8,591M	18,983M	5,053M	4,086M	8,630M	15,177M	9,154M	5,717M	7,185M	7,057M	4,432M	2,090M	1,962M	2,175M	2,608M	4,044M	5,277M	3,175M	2,635M	3,124M	2,796M	2,004M	1,320M	586M
Operating Income Margin	10.0%	19.3%	11.7%	10.3%	17.5%	26.7%	21.0%	13.9%	15.6%	16.4%	12.4%	6.4%	5.5%	6.1%	7.0%	11.1%	15.6%	13.4%	11.1%	15.6%	16.7%	15.3%	18.6%	13.2%
Interest Income	234M	392M	69M	269M	240M	93M	127M	121M	85M	127M	226M	358M	425M	241M	192M	131M	39M	0M	63M	138M	0M	0M	0M	0M
Interest Expense	2,201M	1,266M	1,116M	1,124M	504M	275M	457M	752M	589M	312M	403M	440M	445M	480M	349M	1,157M	1,140M	221M	988M	294M	0M	428M	155M	76M
Net Interest Income	-1,967M	-874M	-1,048M	-856M	-264M	-183M	-330M	-631M	-504M	-185M	-177M	-82M	-20M	-239M	-157M	-1,026M	-1,101M	-221M	-925M	-157M	0M	-428M	-155M	-76M
Unusual Items	246M	-1,803M	-1,284M	-442M	-1,589M	582M	-887M	38M	2,441M	1,493M	2,982M	514M	1,572M	1,964M	476M	702M	991M	260M	616M	749M	4,800M	213M	92M	50M
EBT Excluding Unusual Items	6,624M	18,109M	4,006M	3,230M	8,366M	14,995M	8,824M	5,085M	6,681M	6,872M	4,255M	2,008M	1,942M	1,936M	2,451M	3,018M	4,176M	2,954M	1,710M	2,968M	2,796M	1,576M	1,165M	510M
Pre-Tax Income	6,870M	16,305M	2,722M	2,788M	6,777M	15,577M	7,936M	5,123M	9,122M	8,365M	7,237M	2,523M	3,514M	3,900M	2,927M	3,720M	5,166M	3,214M	2,326M	3,717M	7,596M	1,789M	1,257M	560M
Pre-Tax Margin	8.0%	16.6%	6.3%	7.0%	13.7%	27.4%	18.2%	12.4%	19.8%	19.4%	20.2%	7.7%	9.8%	10.9%	7.8%	10.2%	15.2%	13.5%	9.8%	18.6%	45.3%	13.7%	17.8%	12.6%
Income Tax Expense	1,093M	4,496M	619M	444M	2,589M	3,023M	2,108M	1,354M	2,052M	1,531M	1,075M	569M	693M	608M	420M	513M	516M	248M	194M	245M	240M	140M	61M	38M
Net Income	4,885M	10,761M	1,630M	2,063M	3,655M	10,778M	4,703M	3,094M	6,076M	5,593M	5,027M	1,650M	2,537M	2,961M	2,097M	2,594M	3,621M	2,396M	1,706M	3,472M	7,356M	1,436M	1,104M	472M
Net Income Margin	5.7%	11.0%	3.8%	5.2%	7.4%	19.0%	10.8%	7.5%	13.2%	13.0%	14.0%	5.0%	7.1%	8.3%	5.6%	7.1%	10.7%	10.1%	7.2%	17.3%	43.9%	11.0%	15.6%	10.6%
Depreciation & Amortization	4,045M	3,963M	1,937M	1,989M	1,891M	1,946M	1,690M	1,929M	1,968M	1,758M	1,955M	2,216M	2,321M	2,275M	2,200M	2,135M	2,059M	1,812M	1,590M	1,170M	1,032M	818M	473M	335M
EBITDA	12,636M	22,946M	6,990M	6,075M	10,521M	17,124M	10,844M	7,646M	9,153M	8,815M	6,387M	4,306M	4,283M	4,450M	4,808M	6,179M	7,336M	4,987M	4,225M	4,295M	3,827M	2,822M	1,794M	921M
EBITDA Margin	14.7%	23.4%	16.2%	15.3%	21.3%	30.2%	24.9%	18.6%	19.9%	20.4%	17.8%	13.1%	11.9%	12.5%	12.9%	16.9%	21.6%	21.0%	17.8%	21.4%	22.8%	21.5%	25.3%	20.8%
NOPAT	7,224M	13,748M	3,905M	3,436M	5,334M	12,232M	6,722M	4,206M	5,569M	5,765M	3,774M	1,618M	1,575M	1,835M	2,234M	3,486M	4,749M	2,930M	2,415M	2,918M	2,707M	1,847M	1,256M	547M
NOPAT Margin	8.4%	14.0%	9.1%	8.7%	10.8%	21.6%	15.5%	10.2%	12.1%	13.4%	10.5%	4.9%	4.4%	5.1%	6.0%	9.5%	14.0%	12.3%	10.2%	14.6%	16.1%	14.1%	17.7%	12.3%
Owner's Earnings	837M	5,908M	-656M	-83M	252M	8,806M	4,722M	2,225M	5,309M	4,889M	6,339M	2,834M	3,014M	3,591M	2,894M	2,455M	3,435M	2,219M	-20M	-953M	6,094M	63M	-417M	-424M
Owner's Earnings Margin	1.0%	6.0%	-1.5%	-0.2%	0.5%	15.5%	10.9%	5.4%	11.5%	11.3%	17.7%	8.6%	8.4%	10.1%	7.8%	6.7%	10.1%	9.3%	-0.1%	-4.8%	36.3%	0.5%	-5.9%	-9.6%
EPS (Basic)	4.41	9.70	1.47	1.86	3.30	9.73	4.26	2.85	5.69	5.36	4.89	1.61	2.47	2.89	2.05	2.53	3.57	2.36	1.53	2.52	6.75	1.45	1.26	0.61
EPS (Diluted)	4.41	9.71	1.47	1.86	3.30	9.72	4.25	2.85	5.66	5.31	4.87	1.61	2.47	2.89	2.04	2.53	3.53	2.34	1.50	3.06	6.72	1.38	1.20	0.58
Shares (Basic)	1,109M	1,109M	1,108M	1,108M	1,109M	1,108M	1,105M	1,086M	1,067M	1,043M	1,028M	1,026M	1,026M	1,026M	1,026M	1,024M	1,016M	1,013M	1,111M	1,101M	1,048M	990M	873M	771M
Shares (Diluted)	1,108M	1,109M	1,108M	1,108M	1,109M	1,108M	1,106M	1,086M	1,074M	1,053M	1,031M	1,026M	1,026M	1,026M	1,026M	1,027M	1,025M	1,022M	1,134M	1,135M	1,094M	1,038M	918M	811M

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	3,113.75M	3,894.32M	3,894.32M	4,088.32M	6,693.34M	5,512.36M	6,568.86M	6,256.96M	7,473.32M	8,113.76M	6,472.61M	4,853.79M	4,559.40M	6,363.24M	3,914.99M	4,437.44M	5,143.66M	5,652.21M	4,225.27M	3,494.60M	6,097.23M	1,226.93M	5,369.11M	2,233.42M
Short-Term Investments	10,304.48M	6,949.62M	6,949.62M	8,905.03M	4,707.55M	4,555.58M	2,795.38M	1,357.44M	78.20M	778.99M	0.00M	210.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.81M	39.18M	56.50M	0.00M	0.00M
Cash & Short-Term Investments	13,418.23M	10,843.94M	10,843.94M	12,993.35M	11,400.88M	10,067.93M	9,364.24M	7,614.40M	7,551.52M	8,892.74M	6,472.61M	5,063.87M	4,559.40M	6,363.24M	3,914.99M	4,437.44M	5,143.66M	5,652.21M	4,225.27M	3,497.41M	6,136.41M	1,283.42M	5,369.11M	2,233.42M
Net Receivables	12,570.27M	10,879.83M	10,879.83M	9,790.64M	12,077.57M	14,958.45M	12,357.59M	11,180.15M	11,195.76M	11,312.76M	8,419.79M	7,915.20M	8,496.85M	8,577.58M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2,186.47M
Inventory	16,094.76M	16,450.59M	16,450.59M	19,195.28M	20,408.06M	23,589.02M	22,853.70M	24,077.98M	22,979.25M	17,753.38M	17,589.29M	21,515.49M	21,949.65M	20,532.72M	13,512.22M	2,926.13M	4,023.23M	3,454.71M	2,561.33M	2,648.22M	2,498.35M	1,785.81M	0.00M	0.00M
Other Current Assets	896.68M	778.19M	778.19M	1,878.39M	741.73M	510.73M	0.00M	949.35M	1,789.12M	6,486.33M	1,725.40M	1,390.58M	2,256.27M	2,465.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	42,979.94M	38,952.55M	38,952.55M	43,857.66M	44,628.24M	49,126.13M	44,575.53M	43,821.88M	43,515.65M	44,445.22M	34,207.09M	35,885.14M	37,262.17M	37,939.34M	17,427.22M	7,363.57M	9,166.89M	9,106.91M	6,786.61M	6,145.62M	8,634.77M	3,069.23M	5,369.11M	4,419.90M
Property, Plant & Equipment	24,959.57M	24,234.37M	23,319.31M	22,100.86M	20,279.84M	18,616.05M	16,463.61M	17,105.01M	16,752.44M	15,946.01M	14,510.71M	16,885.12M	18,430.80M	19,220.67M	19,750.63M	18,357.98M	17,574.36M	17,847.47M	16,888.28M	14,950.69M	10,294.55M	8,723.33M	0.00M	0.00M
Goodwill	2,670.53M	2,670.53M	2,670.53M	2,670.53M	2,670.53M	2,670.53M	2,670.53M	2,670.53M	2,467.08M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,288.15M	2,005.66M	2,005.66M	1,717.52M	1,659.35M	0.00M	0.00M
Intangible Assets	25.20M	28.44M	28.44M	34.92M	41.40M	47.88M	54.36M	60.84M	27.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.62M	770.14M	725.88M	2.19M	1.78M	0.00M	0.00M
Long-Term Investments	32,393.86M	-1,730.56M	5,219.06M	29,983.35M	657.67M	3,627.30M	5,252.93M	11,122.39M	13,261.29M	5,471.69M	24,657.97M	4,279.03M	16,679.68M	14,539.13M	9,958.18M	11,934.29M	5,956.67M	4,075.74M	5,723.52M	1,302.97M	842.90M	313.62M	0.00M	0.00M
Tax Assets	2.74M	2.59M	2.59M	3.07M	2.58M	2.29M	2.67M	2.54M	3.65M	3.77M	3.35M	3.42M	4.86M	4.75M	5.40M	14.34M	25.55M	33.50M	32.66M	21.99M	19.50M	11.61M	0.00M	0.00M
Other Non-Current Assets	0.00M	33,078.31M	27,043.75M	0.00M	28,396.04M	28,586.72M	23,247.57M	21,506.05M	17,609.85M	19,410.97M	90.94M	12,969.07M	732.43M	734.89M	5.40M	670.13M	1,673.65M	505.89M	226.07M	2,361.58M	791.69M	675.96M	268.46M	301.92M
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
Total Non-Current Assets	60,051.90M	58,283.69M	58,283.69M	54,792.72M	52,048.06M	53,550.77M	47,691.67M	52,467.35M	50,121.30M	43,120.59M	41,551.11M	36,424.79M	38,135.92M	36,787.58M	32,007.75M	33,264.89M	27,518.38M	24,751.37M	25,646.33M	21,368.78M	13,668.34M	11,385.65M	268.46M	301.92M
Total Assets	103,031.84M	97,236.24M	97,236.24M	98,650.38M	96,676.30M	102,676.91M	92,267.20M	96,289.23M	93,636.95M	87,565.81M	75,758.21M	72,309.93M	75,398.09M	74,726.92M	49,434.96M	40,628.46M	36,685.27M	33,858.28M	32,432.93M	27,514.40M	22,303.11M	14,454.88M	5,637.57M	4,721.81M
Accounts Payable	3,384.92M	3,395.77M	3,395.77M	3,452.33M	3,585.44M	4,160.10M	3,532.04M	3,494.81M	3,726.09M	3,390.28M	2,752.68M	2,816.13M	3,543.25M	3,441.98M	3,613.61M	3,970.10M	3,360.36M	5,229.12M	2,365.04M	2,049.03M	3,405.39M	2,764.49M	2,966.00M	1.29M
Short-Term Debt	11,046.34M	8,959.87M	8,959.87M	8,145.70M	5,269.17M	10,737.95M	8,612.10M	7,862.99M	7,254.60M	5,290.75M	7,849.59M	6,241.38M	9,803.90M	7,172.39M	5,734.28M	6,723.76M	5,241.97M	3,458.56M	2,597.00M	2,640.33M	1,296.62M	2,231.73M	3,315.52M	185.46M
Tax Payables	2,184.57M	2,403.67M	2,403.67M	1,352.20M	2,820.23M	3,468.80M	3,149.17M	2,357.02M	2,512.93M	2,088.40M	1,694.54M	955.96M	869.82M	892.20M	892.31M	660.54M	591.76M	401.91M	383.26M	362.42M	283.58M	121.66M	0.00M	3.66M
Deferred Revenue	0.00M	0.00M	0.00M	1,668.24M	2,601.53M	5,302.00M	3,789.03M	6,374.11M	3,448.07M	3,814.22M	744.32M	4,055.43M	0.00M	0.00M	0.00M	0.00M	0.00M	1,157.19M	998.62M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	2,375.82M	2,574.66M	7,151.27M	2,174.83M	5,675.88M	3,981.38M	4,902.73M	2,200.73M	1,976.68M	6,607.99M	9,453.48M	2,149.04M	6,328.98M	5,473.78M	2,599.91M	3,492.44M	3,280.51M	13.33M	1,985.40M	2,143.87M	0.00M	0.00M	-4,604.08M	0.00M
Total Current Liabilities	18,991.64M	17,333.98M	21,910.58M	16,793.29M	19,952.24M	27,650.23M	23,985.06M	22,289.65M	18,918.37M	21,191.63M	22,494.60M	16,217.94M	20,545.94M	16,980.36M	12,840.11M	14,846.83M	12,474.61M	10,260.11M	8,329.32M	7,195.65M	4,985.58M	5,117.87M	1,677.43M	190.41M
Long-Term Debt	13,873.97M	12,736.23M	12,736.23M	14,776.99M	14,477.99M	7,667.99M	8,618.75M	16,546.92M	20,259.08M	13,797.60M	9,014.56M	14,469.29M	12,251.10M	16,507.21M	12,024.80M	11,450.81M	7,086.13M	7,960.77M	7,105.28M	5,490.37M	4,086.22M	4,549.25M	2,938.16M	833.11M
Capital Lease Obligations	14.29M	16.18M	16.18M	5.01M	9.19M	10.40M	14.00M	13.21M	0.00M	0.00M	0.00M	0.00M	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	747.05M	786.09M	786.09M	831.83M	978.13M	612.02M	690.62M	697.95M	731.04M	783.42M	759.99M	805.52M	846.07M	521.20M	258.12M	167.19M	73.38M	56.42M	51.33M	29.17M	36.32M	46.96M	0.00M	0.00M
Other Non-Current Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	50.76M	130.32M	4,249.44M	12.86M	9.76M	0.00M	3,728.49M	2,186.47M
Total Non-Current Liabilities	14,635.31M	13,538.50M	13,538.50M	15,613.83M	15,465.31M	8,290.41M	9,323.37M	17,258.09M	20,990.12M	14,581.02M	9,774.55M	15,274.81M	13,097.18M	17,028.41M	12,282.92M	11,618.01M	7,210.27M	8,147.50M	11,406.05M	5,532.40M	4,132.31M	4,596.21M	6,666.65M	3,019.58M
Total Liabilities	33,626.94M	30,872.47M	35,449.07M	32,407.12M	35,417.55M	35,940.64M	33,308.43M	39,547.74M	39,908.49M	35,772.65M	32,269.15M	31,492.75M	33,643.11M	34,008.77M	25,123.03M	26,464.84M	19,684.88M	18,407.61M	19,735.37M	12,728.05M	9,117.89M	9,714.08M	8,344.08M	3,209.99M
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
Common Stock	110.83M	110.83M	110.83M	110.83M	110.88M	110.88M	110.58M	110.58M	108.32M	106.65M	103.84M	102.56M	102.56M	102.56M	85.47M	85.47M	84.95M	84.47M	83.93M	0.00M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	52,151.13M	50,813.79M	50,813.79M	50,135.64M	50,079.40M	50,261.36M	42,956.23M	40,245.57M	38,472.31M	35,103.75M	31,381.09M	27,035.03M	25,922.35M	24,160.81M	21,528.96M	0.00M	0.00M	0.00M	13,363.63M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	0.00M	1,989.46M	2,270.04M	2,864.78M	3,236.42M	6,013.97M	6,232.23M	3,265.57M	-20,621.29M	-21,179.63M	-19,055.13M	-18,605.96M	-18,245.86M	-16,404.24M	-13,896.22M	-12,112.57M	-9,648.70M	-7,749.63M	-6,184.11M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	4,843.68M	4,914.47M	4,914.47M	4,693.26M	4,638.18M	5,666.12M	4,933.80M	7,781.09M	7,300.29M	7,684.20M	6,365.67M	6,094.56M	6,296.88M	6,701.72M	5,503.51M	5,949.01M	5,812.16M	4,603.33M	4,249.44M	3,936.23M	3,044.23M	1,411.53M	0.00M	0.00M
Total Shareholders’ Equity	52,261.96M	52,914.08M	53,194.66M	53,111.25M	53,426.70M	56,386.21M	49,299.04M	43,621.71M	17,959.33M	14,030.77M	12,429.79M	8,531.64M	7,779.05M	7,859.13M	7,718.21M	-12,027.11M	-9,563.75M	-7,665.16M	7,263.45M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Equity	57,105.64M	57,828.56M	58,109.14M	57,804.51M	58,064.87M	62,052.33M	54,232.85M	51,402.80M	25,259.62M	21,714.97M	18,795.46M	14,626.19M	14,075.94M	14,560.84M	13,221.72M	-6,078.10M	-3,751.59M	-3,061.83M	11,512.89M	3,936.23M	3,044.23M	1,411.53M	0.00M	0.00M
Total Liabilities & Equity	90,732.58M	88,701.03M	93,558.21M	90,211.63M	93,482.42M	97,992.97M	87,541.28M	90,950.53M	65,168.10M	57,487.62M	51,064.62M	46,118.94M	47,719.05M	48,569.61M	38,344.75M	20,386.74M	15,933.28M	15,345.78M	31,248.25M	16,664.28M	12,162.13M	11,125.61M	8,344.08M	3,209.99M
Tangible Assets	100,336.11M	94,537.27M	94,537.27M	95,944.93M	93,964.37M	99,958.50M	89,542.31M	93,557.86M	91,142.87M	85,277.66M	73,470.06M	70,021.78M	73,109.94M	72,438.77M	47,146.81M	38,340.31M	34,397.12M	31,569.51M	29,657.13M	24,782.86M	20,583.40M	12,793.75M	5,637.57M	4,721.81M
Tangible Equity	54,409.91M	55,129.59M	55,410.17M	55,099.06M	55,352.94M	59,333.93M	51,507.96M	48,671.43M	22,765.54M	19,426.82M	16,507.31M	12,338.05M	11,787.79M	12,272.69M	10,933.57M	-8,366.25M	-6,039.74M	-5,350.61M	8,737.09M	1,204.69M	1,324.53M	-249.60M	0.00M	0.00M
Tangible Book Value	54,409.91M	55,129.59M	55,410.17M	55,099.06M	55,352.94M	59,333.93M	51,507.96M	48,671.43M	22,765.54M	19,426.82M	16,507.31M	12,338.05M	11,787.79M	12,272.69M	10,933.57M	-8,366.25M	-6,039.74M	-5,350.61M	8,737.09M	1,204.69M	1,324.53M	-249.60M	0.00M	0.00M
Total Investments	42,698.34M	5,219.06M	12,168.68M	38,888.38M	5,365.22M	8,182.88M	8,048.31M	12,479.83M	13,339.48M	6,250.67M	24,657.97M	4,489.11M	16,679.68M	14,539.13M	9,958.18M	11,934.29M	5,956.67M	4,075.74M	5,723.52M	1,305.79M	882.08M	370.12M	268.46M	301.92M
Net Debt	21,806.56M	17,801.78M	17,801.78M	18,834.36M	13,053.83M	12,893.58M	10,661.99M	18,152.95M	20,040.36M	10,974.59M	10,391.54M	15,856.88M	17,495.60M	17,316.36M	13,844.09M	13,737.13M	7,184.45M	5,767.12M	5,477.00M	4,636.11M	-714.39M	5,554.05M	884.56M	-1,214.85M

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	21,986.1M	19,989.8M	19,989.8M	25,252.7M	28,108.6M	23,419.0M	22,426.2M	22,757.5M	25,502.1M	25,184.1M	12,176.1M	20,190.7M	16,934.4M	21,100.8M	16,424.3M	12,347.5M	11,274.2M	9,520.2M	5,264.4M	6,377.6M	9,467.1M	2,857.3M	8,941.7M	4,229.5M
Total Capital	87,497.6M	81,537.1M	81,537.1M	82,669.1M	79,814.0M	81,433.5M	73,109.8M	74,611.7M	74,846.7M	65,127.9M	54,451.2M	55,956.8M	57,731.3M	57,837.8M	48,404.7M	46,220.0M	38,098.3M	32,940.1M	24,820.6M	25,528.6M	21,341.8M	15,016.2M	5,602.4M	2,530.4M
Capital Employed	82,038.0M	78,273.5M	78,273.5M	80,045.4M	80,156.7M	76,969.7M	70,117.9M	75,224.8M	75,623.4M	68,304.7M	53,727.2M	56,615.5M	55,070.4M	57,888.4M	48,432.1M	45,612.4M	38,792.6M	34,271.6M	30,910.8M	27,746.3M	23,135.5M	14,242.9M	9,210.2M	4,531.4M
Invested Capital	84,383.9M	77,642.7M	77,642.7M	78,580.7M	73,120.7M	75,921.2M	66,540.9M	68,354.7M	67,373.3M	57,014.1M	47,978.5M	51,103.0M	53,171.9M	51,474.6M	44,489.7M	41,782.5M	32,954.6M	27,287.9M	20,595.3M	22,034.0M	15,244.5M	13,789.3M	233.3M	297.0M

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	6,274.95M	10,761.13M	2,721.99M	2,062.97M	6,777.07M	15,576.66M	7,936.42M	5,122.91M	9,121.91M	8,365.36M	7,237.23M	2,522.56M	3,513.62M	3,899.97M	2,926.99M	3,719.64M	5,166.34M	3,214.18M	2,325.50M	3,472.15M	7,355.72M	1,435.81M	1,103.85M	472.37M
Depreciation & Amortization	3,064.21M	3,963.04M	1,994.33M	1,989.34M	1,891.00M	1,946.30M	1,689.91M	1,928.95M	1,968.04M	1,757.86M	1,955.03M	2,216.48M	2,321.39M	2,275.23M	2,199.99M	2,134.65M	2,059.12M	1,812.01M	1,590.40M	1,170.36M	1,031.70M	817.72M	473.43M	335.34M
Deferred Income Tax	0.00M	-6,548.90M	0.00M	0.00M	0.00M	0.00M	0.00M	-1,172.68M	0.00M	-2,266.04M	-3,701.66M	-976.05M	-1,949.21M	-2,021.35M	-894.03M	-814.89M	-784.77M	0.00M	170.79M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	124.01M	125.30M	0.00M	124.01M	125.30M	0.00M	0.00M	229.23M	0.00M	3.14M	20.91M	62.76M	7.40M	44.76M	105.75M	236.10M	0.30M	1.43M	2.82M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-525.76M	-1,708.92M	-1,060.84M	102.23M	2,064.17M	-5,124.74M	240.64M	551.11M	-5,051.79M	-7,746.61M	5,403.42M	-1,377.43M	-1,896.82M	-4,291.51M	-2,675.59M	-3,415.11M	-4,594.54M	-3,457.86M	48.72M	-95.43M	-917.26M	-941.53M	-823.16M	-343.17M
Accounts Receivable	-619.64M	-361.26M	-1,051.56M	148.02M	4,155.46M	-4,217.84M	854.82M	185.37M	2,820.95M	-6,215.89M	-593.86M	381.47M	-566.68M	-817.85M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	496.61M	-1,821.22M	446.47M	50.14M	520.84M	-2,342.07M	2,182.65M	-1,943.75M	-7,053.49M	-156.20M	239.44M	-977.69M	-2,436.53M	-6,113.91M	-949.16M	404.74M	-682.15M	-388.50M	164.44M	-102.03M	-627.44M	-250.75M	-390.98M	-35.26M
Accounts Payable	0.00M	0.00M	-49.15M	-270.22M	-25.60M	1,438.29M	709.53M	-726.88M	-768.29M	2,283.50M	1,626.48M	691.31M	566.68M	817.85M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-402.73M	473.56M	-406.60M	-95.92M	-2,586.53M	-3.12M	-3,506.36M	3,036.37M	-50.95M	-3,658.01M	4,131.35M	-1,472.52M	1,106.39M	2,640.26M	-1,726.44M	-3,819.85M	-3,912.39M	-3,069.36M	-115.72M	6.60M	-289.83M	-690.78M	-432.18M	-307.91M
Other Non-Cash Items	1,657.78M	12,584.70M	2,106.24M	1,032.27M	-272.63M	-2,898.25M	-367.27M	631.28M	-2,589.74M	31.68M	198.16M	106.07M	50.36M	269.61M	187.66M	133.84M	289.94M	-285.06M	-91.72M	-226.99M	-4,477.49M	505.37M	156.37M	82.65M
Net Cash from Operating Activities	10,595.19M	19,382.79M	5,761.72M	5,310.82M	10,584.92M	9,499.97M	9,499.69M	7,290.81M	3,448.42M	145.39M	11,113.08M	2,554.39M	2,046.74M	176.72M	1,850.77M	1,994.23M	2,136.39M	1,284.69M	4,046.50M	4,320.10M	2,992.66M	1,817.37M	910.49M	547.18M
Capital Expenditures (PPE)	-4,019.63M	-8,815.74M	-4,223.37M	-4,135.68M	-5,294.54M	-3,917.83M	-1,670.83M	-2,798.25M	-2,735.30M	-2,461.93M	-642.62M	-1,032.50M	-1,844.13M	-1,645.23M	-1,403.18M	-2,274.23M	-2,245.27M	-1,989.17M	-3,316.64M	-5,595.97M	-2,293.31M	-2,190.08M	-1,994.38M	-1,231.52M
Acquisitions (Net)	0.00M	-2,797.47M	0.00M	0.00M	-2,797.47M	-43.16M	288.94M	-1,445.54M	-1,629.81M	696.90M	-448.47M	-1,532.15M	-758.44M	-821.06M	-1,534.81M	-1,445.47M	-132.96M	1,266.31M	-835.46M	-660.18M	-191.60M	14.18M	-1,735.31M	-33.03M
Purchases of Investments	0.00M	0.00M	0.00M	-5,580.94M	-476.21M	-3,151.51M	-4,448.31M	-3,085.34M	-12,015.55M	-10,081.40M	-12,579.92M	-5,636.90M	-3,811.71M	-3,978.82M	-2,407.55M	-4,517.59M	-2,264.64M	-1,422.51M	-1,113.01M	-616.91M	-350.27M	-20.15M	-416.03M	-229.67M
Sales / Maturities of Investments	0.00M	0.00M	2,312.62M	107.01M	2,524.38M	2,013.36M	7,102.55M	3,600.14M	7,547.22M	11,615.10M	8,614.24M	6,597.71M	4,703.25M	3,261.55M	5,099.36M	659.83M	975.40M	1,026.88M	758.62M	678.39M	28.97M	287.11M	22.35M	13.19M
Other Investing Activities	-4,104.28M	-5,003.51M	398.54M	1,368.20M	712.49M	-913.14M	1,492.22M	174.57M	497.19M	-38.53M	942.39M	894.28M	767.52M	114.53M	-137.88M	772.71M	356.85M	344.91M	420.34M	-897.61M	4,896.43M	-890.75M	22.71M	12.60M
Net Cash from Investing Activities	-8,123.90M	-18,301.56M	-1,512.21M	-8,241.41M	-5,331.35M	-6,012.28M	2,764.57M	-3,554.43M	-8,336.26M	-269.87M	-4,114.38M	-709.56M	-943.50M	-3,069.04M	-384.06M	-6,804.75M	-3,310.63M	-773.58M	-4,086.15M	-7,092.28M	2,090.23M	-2,799.69M	-4,100.66M	-1,468.43M
Net Debt Issuance	0.00M	0.00M	-1,178.94M	3,201.61M	1,345.65M	1,145.90M	-7,232.43M	-3,125.28M	8,268.53M	2,222.72M	-3,846.05M	-1,334.32M	-1,624.60M	5,885.38M	-547.25M	5,781.19M	740.52M	1,728.51M	2,346.44M	1,666.99M	-1,288.52M	493.45M	2,660.45M	555.81M
Long-Term Debt Issuance	0.00M	0.00M	-1,178.94M	3,201.61M	1,345.65M	1,145.90M	-7,232.43M	-3,125.28M	8,268.53M	2,222.72M	-3,846.05M	-1,334.32M	-1,624.60M	5,885.38M	-547.25M	5,781.19M	740.52M	1,728.51M	2,346.44M	1,666.99M	-1,288.52M	493.45M	2,660.45M	555.81M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	1,145.90M	3.25M	2.34M	0.00M	0.00M	0.00M	0.00M	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	-11.93M	0.00M	0.00M	-11.58M	0.00M	51.91M	328.12M	373.27M	207.48M	940.77M	0.00M	0.00M	0.00M	0.00M	0.00M	44.55M	184.49M	20.49M	-121.65M	124.26M	874.46M	1,298.75M	966.86M	638.52M
Common Stock Issuance	0.00M	0.00M	0.00M	0.35M	0.00M	51.91M	373.07M	412.35M	207.48M	940.77M	159.03M	0.00M	0.00M	0.00M	0.00M	44.55M	184.49M	20.49M	42.26M	19.82M	874.46M	1,298.75M	977.48M	638.52M
Common Stock Repurchased	-11.93M	0.00M	0.00M	-11.93M	0.00M	0.00M	-44.95M	-39.09M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-163.91M	0.00M	0.00M	0.00M	-10.62M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	104.44M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-2,245.23M	-5,850.58M	-1,081.36M	-1,163.87M	-3,326.38M	-2,524.20M	-1,214.46M	-1,061.41M	-2,257.92M	-1,678.27M	-615.36M	-512.80M	-410.24M	-666.64M	-299.13M	-854.67M	-804.70M	-506.84M	-927.43M	-1,291.09M	-506.15M	-325.55M	-150.99M	-102.55M
Common Dividends Paid	-2,245.23M	-4,743.29M	-1,081.36M	-1,163.87M	-3,326.38M	-2,524.20M	-1,214.46M	-1,061.41M	-2,257.92M	-1,678.27M	-615.36M	-512.80M	-410.24M	-666.64M	-299.13M	-854.67M	-804.70M	-506.84M	-927.43M	-1,084.23M	-506.15M	-325.55M	-150.99M	-102.55M
Preferred Dividends Paid	0.00M	-1,107.29M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	123.50M	87.03M	0.00M	0.00M
Other Financing Activities	-658.62M	5,419.47M	-1,301.18M	-1,403.88M	-1,786.37M	-3,339.39M	-4,158.02M	-1,061.57M	-1,756.71M	491.40M	-759.47M	588.95M	-826.93M	109.12M	-1,196.22M	-957.40M	370.50M	-451.97M	-588.48M	-535.23M	720.99M	-323.91M	-32.02M	-29.64M
Net Cash from Financing Activities	-2,915.77M	862.68M	-3,561.47M	622.28M	-3,767.10M	-4,665.78M	-12,276.78M	-4,875.00M	4,461.39M	1,530.50M	-5,220.88M	-1,258.16M	-2,861.77M	5,327.86M	-2,042.60M	4,013.67M	490.80M	790.19M	708.88M	171.78M	-75.71M	1,229.76M	3,444.30M	1,062.14M
Effect of FX on Cash	-1,178.75M	12,021.79M	-882.04M	-296.71M	-305.49M	121.59M	324.42M	-77.75M	-213.98M	235.12M	-158.99M	-165.51M	-46.07M	49.60M	23.79M	79.02M	158.87M	20.04M	62.01M	0.00M	0.00M	0.00M	0.00M	2.49M
Net Change in Cash	2,475.17M	0.28M	-194.00M	-2,605.01M	1,180.98M	-1,056.50M	311.89M	-1,216.36M	-640.43M	1,641.14M	1,618.82M	421.16M	-1,804.60M	2,485.14M	-552.10M	-717.83M	-524.57M	1,321.33M	731.25M	-2,600.39M	5,007.17M	247.44M	254.13M	143.38M
Cash at Beginning of Period	8,783.76M	24,017.30M	4,088.32M	6,693.34M	5,512.36M	6,568.86M	6,256.96M	7,473.32M	8,113.76M	6,472.61M	4,853.79M	4,432.64M	6,237.24M	3,752.10M	4,304.20M	5,022.02M	5,546.59M	4,225.26M	3,494.01M	6,094.41M	1,087.23M	839.79M	585.66M	442.28M
Cash at End of Period	11,258.93M	24,017.58M	3,894.32M	4,088.32M	6,693.34M	5,512.36M	6,568.86M	6,256.96M	7,473.32M	8,113.76M	6,472.61M	4,853.79M	4,432.64M	6,237.24M	3,752.10M	4,304.20M	5,022.02M	5,546.59M	4,225.26M	3,494.01M	6,094.41M	1,087.23M	839.79M	585.66M
Operating Cash Flow	10,595.19M	19,382.79M	5,761.72M	5,310.82M	10,584.92M	9,499.97M	9,499.69M	7,290.81M	3,448.42M	145.39M	11,113.08M	2,554.39M	2,046.74M	176.72M	1,850.77M	1,994.23M	2,136.39M	1,284.69M	4,046.50M	4,320.10M	2,992.66M	1,817.37M	910.49M	547.18M
Capital Expenditure	-8,093.11M	-8,815.74M	-4,223.37M	-4,135.68M	-5,294.54M	-3,917.83M	-1,670.83M	-2,798.25M	-2,735.30M	-2,461.93M	-642.62M	-1,032.50M	-1,844.13M	-1,645.23M	-1,403.18M	-2,274.23M	-2,245.27M	-1,989.17M	-3,316.64M	-5,595.97M	-2,293.31M	-2,190.08M	-1,994.38M	-1,231.52M
Free Cash Flow	2,502.08M	10,567.05M	1,538.35M	1,175.14M	5,290.38M	5,582.14M	7,828.86M	4,492.56M	713.12M	-2,316.54M	10,470.46M	1,521.90M	202.61M	-1,468.52M	447.59M	-280.00M	-108.88M	-704.48M	729.87M	-1,275.87M	699.35M	-372.70M	-1,083.90M	-684.34M

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	13,529.77M	22,945.81M	6,989.84M	6,075.34M	10,521.29M	17,042.58M	10,759.05M	7,791.75M	9,110.72M	8,817.70M	6,408.01M	4,369.23M	4,290.52M	4,494.69M	4,913.59M	5,585.14M	6,846.25M	4,683.20M	3,902.44M	4,845.05M	4,285.01M	3,206.72M	2,016.98M	1,027.63M
(-) Tax Adjustment	2,152.72M	6,327.31M	1,588.66M	966.77M	3,682.45M	3,307.06M	2,857.81M	2,059.28M	2,049.19M	1,613.97M	952.02M	986.35M	845.76M	701.12M	705.11M	770.38M	684.08M	362.05M	325.94M	319.38M	135.63M	250.92M	98.14M	69.00M
(-) Change In Working Capital	-525.76M	-1,708.92M	-1,060.84M	102.23M	2,064.17M	-5,124.74M	240.64M	551.11M	-5,051.79M	-7,746.61M	5,403.42M	-1,377.43M	-1,896.82M	-4,291.51M	-2,675.59M	-3,415.11M	-4,594.54M	-3,457.86M	48.72M	-95.43M	-917.26M	-941.53M	-823.16M	-343.17M
(-) Capital Expenditure	-8,093.11M	-8,815.74M	-4,223.37M	-4,135.68M	-5,294.54M	-3,917.83M	-1,670.83M	-2,798.25M	-2,735.30M	-2,461.93M	-642.62M	-1,032.50M	-1,844.13M	-1,645.23M	-1,403.18M	-2,274.23M	-2,245.27M	-1,989.17M	-3,316.64M	-5,595.97M	-2,293.31M	-2,190.08M	-1,994.38M	-1,231.52M
Unlevered Free Cash Flow	3,809.70M	9,511.68M	2,238.65M	870.65M	-519.87M	14,942.43M	5,989.77M	2,383.11M	9,378.02M	12,488.40M	-590.04M	3,727.82M	3,497.45M	6,439.84M	5,480.89M	5,955.65M	8,511.44M	5,789.84M	211.14M	-974.86M	2,773.33M	1,707.25M	747.61M	70.28M
(-) Net Interest Income After Taxes	-1,653.92M	-633.04M	-809.51M	-719.62M	-171.86M	-147.16M	-242.50M	-464.44M	-390.59M	-150.75M	-150.65M	-63.32M	-16.25M	-201.47M	-134.66M	-884.74M	-990.86M	-204.15M	-847.80M	-146.37M	0.00M	-394.82M	-147.71M	-70.97M
Net Debt Issuance	0.00M	0.00M	-1,178.94M	3,201.61M	1,345.65M	1,145.90M	-7,232.43M	-3,125.28M	8,268.53M	2,222.72M	-3,846.05M	-1,334.32M	-1,624.60M	5,885.38M	-547.25M	5,781.19M	740.52M	1,728.51M	2,346.44M	1,666.99M	-1,288.52M	493.45M	2,660.45M	555.81M
Levered Free Cash Flow	5,463.62M	10,144.72M	1,869.22M	4,791.89M	997.65M	16,235.49M	-1,000.16M	-277.73M	18,037.15M	14,861.87M	-4,285.44M	2,456.82M	1,889.10M	12,526.69M	5,068.31M	12,621.57M	10,242.82M	7,722.50M	3,405.38M	838.49M	1,484.81M	2,595.52M	3,555.76M	697.05M