SmarTone Telecommunications Holdings Limited (0315.HK)

Industry: Telecommunications Services Sector: Communication Services Currency Used: HK Live Price: $4.80

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
Stock Price	3.88	4.45	4.43	4.38	4.15	6.74	8.39	9.82	12.11	12.66	11.38	10.83	14.49	12.48	5.75	2.83	3.45	4.09	3.94	4.41	4.32	4.26	4.95
Market Capitalization	4,311.72M	4,915.11M	4,893.15M	4,859.73M	4,643.91M	7,568.15M	9,399.01M	10,815.15M	13,006.76M	13,379.79M	11,897.67M	11,255.80M	15,031.72M	12,922.23M	6,007.52M	3,069.40M	3,920.29M	4,741.31M	4,589.57M	5,143.43M	5,036.60M	4,964.95M	5,700.87M
(-) Cash & Equivalents	1,613.29M	1,101.46M	600.56M	2,097.91M	1,946.00M	1,925.27M	1,554.33M	1,449.01M	1,872.44M	2,449.07M	1,914.97M	868.98M	1,415.94M	1,078.77M	458.86M	334.14M	818.25M	1,158.23M	679.33M	162.67M	162.03M	130.27M	262.23M
(+) Total Debt	924.09M	833.91M	2,393.14M	2,438.11M	2,714.20M	2,775.29M	2,400.09M	2,659.77M	2,819.49M	2,938.61M	2,921.84M	2,702.14M	227.71M	600.00M	0.00M	0.00M	0.00M	23.79M	19.16M	0.00M	0.00M	0.00M	0.00M
Enterprise Value	3,622.52M	4,647.56M	6,685.73M	5,199.93M	5,412.10M	8,418.17M	10,244.77M	12,025.90M	13,953.80M	13,869.32M	12,904.55M	13,088.96M	13,843.48M	12,443.46M	5,548.66M	2,735.26M	3,102.04M	3,606.88M	3,929.40M	4,980.77M	4,874.57M	4,834.68M	5,438.63M

Income Statement

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30
Revenue	12,475M	13,720M	6,253M	6,221M	6,763M	6,957M	6,720M	6,986M	8,415M	9,988M	8,715M	18,356M	18,659M	13,244M	12,067M	9,952M	6,631M	3,957M	3,703M	4,073M	4,039M	3,779M	3,619M	3,367M	2,832M	2,401M
Cost of Revenue	7,459M	10,322M	2,911M	2,815M	3,323M	3,424M	3,277M	5,356M	4,100M	5,236M	3,504M	12,795M	12,708M	7,743M	6,214M	4,189M	3,280M	1,800M	1,811M	1,992M	1,533M	0M	0M	0M	0M	0M
Gross Profit	5,016M	3,398M	3,342M	3,406M	3,440M	3,533M	3,444M	1,631M	4,315M	4,753M	5,211M	5,561M	5,951M	5,502M	5,852M	5,763M	3,351M	2,157M	1,892M	2,082M	2,506M	3,779M	3,619M	3,367M	2,832M	2,401M
Gross Profit Margin	40.2%	24.8%	53.4%	54.8%	50.9%	50.8%	51.2%	23.3%	51.3%	47.6%	59.8%	30.3%	31.9%	41.5%	48.5%	57.9%	50.5%	54.5%	51.1%	51.1%	62.1%	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
SG&A Expenses	1,007M	1,935M	41M	31M	29M	39M	40M	1,019M	760M	1,889M	1M	1,017M	1,017M	987M	903M	0M	311M	242M	245M	269M	281M	252M	0M	0M	0M	0M
Operating Expenses	3,556M	1,935M	2,590M	2,706M	2,738M	2,789M	2,793M	1,019M	3,494M	3,908M	4,284M	4,458M	4,709M	4,696M	4,718M	4,404M	2,384M	1,830M	1,776M	1,737M	2,323M	2,178M	0M	0M	0M	0M
Operating Income (EBIT)	1,460M	1,463M	752M	701M	702M	744M	650M	611M	822M	845M	927M	1,103M	1,242M	805M	1,134M	1,359M	967M	328M	116M	344M	183M	1,601M	3,619M	3,367M	2,832M	2,401M
Operating Income Margin	11.7%	10.7%	12.0%	11.3%	10.4%	10.7%	9.7%	8.8%	9.8%	8.5%	10.6%	6.0%	6.7%	6.1%	9.4%	13.7%	14.6%	8.3%	3.1%	8.5%	4.5%	42.4%	100.0%	100.0%	100.0%	100.0%
Interest Income	138M	118M	70M	68M	85M	33M	36M	70M	73M	60M	52M	60M	62M	57M	19M	26M	32M	34M	36M	77M	100M	0M	0M	0M	0M	0M
Interest Expense	83M	138M	43M	102M	130M	134M	112M	114M	103M	96M	99M	102M	113M	102M	140M	34M	98M	86M	84M	84M	78M	0M	0M	0M	0M	0M
Net Interest Income	54M	-20M	27M	-34M	-45M	-101M	-76M	-44M	-30M	-36M	-47M	-41M	-52M	-45M	-121M	-8M	-66M	-53M	-49M	-7M	21M	0M	0M	0M	0M	0M
Unusual Items	-184M	-390M	-112M	-3M	-204M	-42M	22M	-93M	9M	-22M	-37M	-99M	-60M	-98M	2M	-98M	0M	0M	4M	0M	0M	-1,509M	-3,227M	-2,816M	-2,832M	-2,401M
EBT Excluding Unusual Items	1,515M	1,443M	779M	666M	657M	642M	575M	567M	792M	809M	880M	1,061M	1,190M	761M	1,013M	1,351M	901M	275M	67M	337M	205M	1,601M	3,619M	3,367M	2,832M	2,401M
Pre-Tax Income	1,331M	1,053M	668M	663M	453M	600M	596M	474M	801M	787M	843M	962M	1,131M	663M	1,015M	1,253M	901M	275M	71M	337M	205M	92M	392M	551M	0M	0M
Pre-Tax Margin	10.7%	7.7%	10.7%	10.7%	6.7%	8.6%	8.9%	6.8%	9.5%	7.9%	9.7%	5.2%	6.1%	5.0%	8.4%	12.6%	13.6%	7.0%	1.9%	8.3%	5.1%	2.4%	10.8%	16.4%	0.0%	0.0%
Income Tax Expense	382M	361M	189M	193M	185M	177M	153M	134M	182M	180M	177M	175M	195M	131M	167M	212M	136M	-20M	10M	31M	28M	8M	43M	79M	-407M	-109M
Net Income	949M	692M	479M	470M	269M	423M	445M	379M	632M	615M	672M	797M	935M	537M	843M	1,023M	754M	294M	42M	276M	158M	70M	339M	466M	407M	109M
Net Income Margin	7.6%	5.0%	7.7%	7.6%	4.0%	6.1%	6.6%	5.4%	7.5%	6.2%	7.7%	4.3%	5.0%	4.1%	7.0%	10.3%	11.4%	7.4%	1.1%	6.8%	3.9%	1.9%	9.4%	13.9%	14.4%	4.5%
Depreciation & Amortization	2,732M	3,575M	1,000M	1,732M	1,754M	1,821M	1,769M	1,817M	996M	1,271M	1,361M	1,546M	1,670M	1,771M	1,860M	1,624M	1,148M	832M	773M	734M	0M	0M	456M	412M	0M	0M
EBITDA	4,192M	5,039M	1,752M	2,433M	2,457M	2,565M	2,419M	2,429M	1,818M	2,116M	2,288M	2,649M	2,912M	2,576M	2,994M	2,983M	2,115M	1,160M	888M	1,078M	183M	1,601M	4,076M	3,779M	2,832M	2,401M
EBITDA Margin	33.6%	36.7%	28.0%	39.1%	36.3%	36.9%	36.0%	34.8%	21.6%	21.2%	26.3%	14.4%	15.6%	19.5%	24.8%	30.0%	31.9%	29.3%	24.0%	26.5%	4.5%	42.4%	112.6%	112.2%	100.0%	100.0%
NOPAT	1,041M	961M	540M	497M	417M	524M	483M	438M	635M	652M	732M	902M	1,027M	647M	947M	1,129M	821M	351M	100M	312M	159M	1,465M	3,221M	2,886M	2,237M	1,897M
NOPAT Margin	8.3%	7.0%	8.6%	8.0%	6.2%	7.5%	7.2%	6.3%	7.5%	6.5%	8.4%	4.9%	5.5%	4.9%	7.9%	11.3%	12.4%	8.9%	2.7%	7.7%	3.9%	38.8%	89.0%	85.7%	79.0%	79.0%
Owner's Earnings	2,746M	2,374M	1,479M	1,601M	1,314M	1,532M	1,363M	1,560M	1,047M	687M	-1,326M	1,225M	731M	819M	-424M	1,710M	1,222M	639M	302M	476M	-234M	-401M	50M	535M	12M	-158M
Owner's Earnings Margin	22.0%	17.3%	23.6%	25.7%	19.4%	22.0%	20.3%	22.3%	12.4%	6.9%	-15.2%	6.7%	3.9%	6.2%	-3.5%	17.2%	18.4%	16.1%	8.2%	11.7%	-5.8%	-10.6%	1.4%	15.9%	0.4%	-6.6%
EPS (Basic)	0.85	0.63	0.43	0.43	0.24	0.38	0.40	0.34	0.56	0.55	0.62	0.75	0.89	0.52	0.81	0.99	0.73	0.28	0.04	0.24	0.14	0.06	0.28	0.40	0.33	0.10
EPS (Diluted)	0.86	0.62	0.43	0.43	0.24	0.38	0.40	0.34	0.56	0.55	0.62	0.75	0.89	0.52	0.81	0.99	0.73	0.28	0.04	0.24	0.14	0.06	0.29	0.40	0.35	0.09
Shares (Basic)	1,108M	1,107M	1,102M	1,104M	1,106M	1,109M	1,115M	1,122M	1,122M	1,110M	1,089M	1,065M	1,049M	1,040M	1,037M	1,031M	1,033M	1,063M	1,104M	1,154M	1,164M	1,167M	1,168M	1,166M	1,164M	1,152M
Shares (Diluted)	1,108M	1,109M	1,102M	1,104M	1,106M	1,109M	1,115M	1,122M	1,123M	1,110M	1,089M	1,065M	1,050M	1,040M	1,041M	1,035M	1,036M	1,063M	1,104M	1,155M	1,164M	1,167M	1,168M	1,166M	1,164M	1,152M

Balance Sheet

Metric	MRQ	MRQ-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30
Cash & Cash Equivalents	2,028.08M	1,649.67M	2,028.08M	1,576.92M	1,155.15M	385.47M	2,094.88M	2,127.41M	1,955.99M	1,731.95M	1,146.80M	2,898.51M	2,303.78M	1,836.77M	645.50M	1,324.87M	819.78M	360.18M	668.27M	1,636.50M	2,316.46M	1,358.66M	325.33M	324.05M	390.81M	524.47M
Short-Term Investments	278.33M	231.39M	278.33M	100.82M	21.75M	1,809.83M	64.64M	278.88M	500.24M	182.89M	172.46M	474.23M	1,848.64M	1,326.37M	1,861.75M	82.68M	341.25M	313.54M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	2,306.41M	1,881.06M	2,306.41M	1,677.73M	1,176.90M	2,195.30M	2,159.53M	2,406.29M	2,456.23M	1,914.84M	1,319.26M	3,372.75M	4,152.43M	3,163.14M	2,507.25M	1,407.55M	1,161.03M	673.72M	668.27M	1,636.50M	2,316.46M	1,358.66M	325.33M	324.05M	390.81M	524.47M
Net Receivables	512.70M	535.26M	512.70M	681.57M	600.76M	593.47M	506.17M	546.66M	737.18M	408.40M	368.45M	365.27M	377.30M	488.50M	565.98M	-8.73M	-11.44M	-76.60M	42.12M	0.00M	292.64M	0.00M	-895.22M	0.00M	0.00M	0.00M
Inventory	87.22M	252.35M	87.22M	107.07M	106.33M	100.04M	57.42M	59.65M	79.47M	161.47M	181.70M	340.77M	82.25M	80.35M	103.16M	255.24M	311.51M	47.92M	75.18M	68.40M	75.07M	79.57M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	540.77M	504.41M	540.77M	384.71M	265.98M	268.85M	342.25M	400.05M	377.36M	296.01M	301.75M	345.56M	299.74M	59.02M	173.37M	427.42M	410.98M	339.83M	583.18M	103.32M	0.00M	75.29M	709.61M	0.12M	0.81M	1.88M
Total Current Assets	3,447.09M	3,173.08M	3,447.09M	2,851.08M	2,149.97M	3,157.65M	3,065.37M	3,412.63M	3,650.23M	2,780.72M	2,171.16M	4,424.34M	4,911.72M	3,791.00M	3,349.76M	2,081.47M	1,872.08M	984.87M	1,368.76M	1,808.22M	2,684.16M	1,513.52M	139.73M	324.17M	391.62M	526.35M
Property, Plant & Equipment	3,872.66M	3,726.28M	3,872.66M	3,884.44M	3,690.17M	3,653.85M	3,584.49M	3,649.69M	2,849.75M	2,982.00M	3,083.11M	3,248.26M	3,354.10M	3,410.71M	3,200.94M	2,545.57M	2,110.48M	1,926.87M	1,844.64M	1,846.95M	1,832.05M	1,924.06M	0.00M	0.00M	0.00M	0.00M
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	0.00M	0.00M
Intangible Assets	3,696.38M	3,721.41M	3,696.38M	3,958.08M	4,431.41M	4,904.74M	3,119.54M	2,950.27M	2,764.96M	3,516.90M	3,631.40M	1,757.11M	2,318.71M	2,378.05M	2,989.22M	2,601.66M	2,536.58M	892.46M	718.15M	780.51M	783.93M	799.96M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	7.19M	8.47M	7.19M	-65.86M	155.13M	353.17M	439.58M	144.21M	160.99M	303.71M	500.07M	273.69M	-1,848.64M	-1,326.36M	-1,861.74M	-82.68M	-233.18M	143.33M	0.00M	0.00M	0.00M	74.04M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.00M	0.00M	0.00M	3.13M	6.45M	7.47M	5.59M	4.14M	4.79M	5.54M	6.13M	6.50M	6.80M	7.34M	7.55M	3.67M	0.00M	3.67M	0.00M	0.00M	0.00M	5.45M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	284.21M	311.52M	284.21M	373.19M	-6.45M	-7.47M	-5.59M	123.93M	285.05M	300.03M	263.54M	591.53M	1,947.41M	1,404.80M	1,941.53M	152.76M	404.42M	409.08M	442.07M	152.91M	108.34M	44.30M	3,545.69M	3,845.90M	6,096.08M	4,702.83M
Other Assets	0.00M	0.00M	0.00M	0.00M	219.72M	267.97M	318.52M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	7,860.43M	7,767.68M	7,860.43M	8,152.97M	8,496.42M	9,179.73M	7,462.12M	6,872.24M	6,065.54M	7,108.18M	7,484.24M	5,877.09M	5,778.39M	5,874.53M	6,277.50M	5,220.99M	4,818.30M	3,375.42M	3,004.86M	2,780.37M	2,724.31M	2,847.81M	3,545.69M	3,845.90M	6,096.08M	4,702.83M
Total Assets	11,307.53M	10,940.77M	11,307.53M	11,004.05M	10,646.40M	12,337.38M	10,527.49M	10,284.87M	9,715.77M	9,888.89M	9,655.40M	10,301.43M	10,690.10M	9,665.53M	9,627.26M	7,302.46M	6,690.38M	4,360.28M	4,373.62M	4,588.59M	5,408.47M	4,361.33M	3,685.42M	4,170.07M	6,487.70M	5,229.18M
Accounts Payable	351.86M	353.94M	351.86M	366.21M	317.30M	239.45M	414.09M	451.79M	448.47M	521.62M	357.39M	577.91M	754.94M	778.12M	536.65M	615.53M	698.03M	184.90M	148.08M	161.77M	154.98M	158.23M	137.32M	0.00M	0.00M	0.00M
Short-Term Debt	4.72M	2.82M	4.72M	2.20M	2.20M	1,444.81M	77.19M	130.89M	430.39M	135.79M	133.64M	126.23M	124.35M	100.90M	65.15M	0.00M	550.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Payables	0.00M	0.00M	0.00M	657.81M	611.20M	557.32M	492.98M	466.19M	508.20M	457.39M	399.34M	545.29M	543.53M	343.07M	177.92M	174.09M	41.17M	53.24M	48.92M	64.65M	31.61M	28.03M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	420.52M	0.00M	514.82M	468.99M	418.31M	285.41M	280.90M	1,734.51M	457.39M	1,634.13M	1,952.45M	2,216.42M	1,882.97M	1,917.30M	0.00M	1,639.79M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	1,883.27M	559.97M	1,883.27M	939.46M	206.39M	214.08M	300.15M	395.65M	472.43M	957.91M	497.22M	769.91M	1,016.39M	1,025.52M	1,550.52M	1,733.85M	1,442.25M	859.03M	819.40M	843.30M	888.54M	818.71M	-142.66M	0.00M	0.00M	0.00M
Total Current Liabilities	2,239.84M	1,337.25M	2,239.84M	2,480.50M	1,606.08M	2,873.98M	1,569.81M	1,725.40M	3,594.00M	2,530.10M	3,021.72M	3,971.79M	4,655.63M	4,130.57M	4,247.54M	2,523.48M	4,371.24M	1,097.16M	1,016.39M	1,069.71M	1,075.14M	1,004.97M	-5.34M	0.00M	0.00M	0.00M
Long-Term Debt	56.88M	58.78M	56.88M	61.60M	63.80M	66.00M	1,510.77M	1,671.42M	1,872.52M	2,294.59M	2,557.05M	2,724.20M	2,844.42M	2,739.32M	2,529.65M	66.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	815.99M	823.40M	815.99M	899.38M	254.91M	328.52M	351.47M	331.54M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	47.59M	38.33M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	165.71M	163.87M	165.71M	158.32M	143.08M	116.81M	111.79M	113.58M	112.61M	125.71M	136.74M	126.85M	134.00M	145.40M	360.99M	203.36M	159.19M	30.15M	97.65M	103.96M	129.61M	138.44M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	2,467.10M	2,329.41M	2,467.10M	2,464.57M	2,641.53M	2,810.14M	894.34M	428.66M	125.22M	269.11M	262.31M	251.35M	635.73M	708.97M	1,354.46M	768.48M	1,157.38M	849.31M	707.61M	709.43M	649.81M	572.82M	-191.66M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	3,505.68M	3,375.46M	3,505.68M	3,583.86M	3,103.31M	3,321.47M	2,868.37M	2,545.20M	2,110.34M	2,689.41M	2,956.10M	3,102.39M	3,614.15M	3,593.69M	4,245.10M	1,037.84M	1,316.56M	879.46M	805.26M	813.39M	827.01M	749.59M	-191.66M	0.00M	0.00M	0.00M
Total Liabilities	5,745.52M	4,712.71M	5,745.52M	6,064.36M	4,709.39M	6,195.44M	4,438.18M	4,270.60M	5,704.34M	5,219.50M	5,977.81M	7,074.17M	8,269.78M	7,724.26M	8,492.65M	3,561.31M	5,687.80M	1,976.62M	1,821.66M	1,883.09M	1,902.15M	1,754.56M	-197.00M	0.00M	0.00M	0.00M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	11,990.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	110.10M	110.19M	110.10M	110.23M	110.65M	110.58M	111.10M	112.23M	112.45M	112.43M	110.58M	108.12M	105.67M	104.60M	103.79M	103.67M	102.84M	52.57M	53.77M	57.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	0.00M	3,467.88M	0.00M	3,405.49M	3,305.16M	3,369.30M	3,329.06M	3,246.26M	3,285.79M	3,109.31M	3,319.20M	3,333.13M	3,172.94M	2,658.00M	2,308.21M	1,465.02M	874.65M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	5,195.16M	21.49M	5,195.16M	21.80M	20.55M	31.99M	36.77M	32.54M	-6,933.24M	-6,473.61M	-6,066.68M	-5,498.56M	-5,245.68M	-5,030.31M	-4,793.83M	-4,365.86M	-4,124.87M	0.00M	-4,438.37M	-4,105.59M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-21.87M	-19.88M	19.49M	32.64M	40.73M	47.07M	56.81M	56.97M	62.06M	63.62M	45.81M	34.86M	33.51M	27.91M	27.12M	23.80M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	5,305.25M	3,599.56M	5,305.25M	3,537.52M	3,436.36M	3,511.87M	3,476.93M	3,391.02M	8,455.41M	-3,251.87M	-2,636.90M	-2,057.32M	-1,967.07M	-2,267.71M	-2,381.84M	-2,797.17M	-3,147.38M	52.57M	-4,384.60M	-4,048.28M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Equity	5,305.25M	3,599.56M	5,305.25M	3,537.52M	3,436.36M	3,511.87M	3,455.07M	3,371.14M	8,474.89M	-3,219.23M	-2,596.16M	-2,010.25M	-1,910.26M	-2,210.75M	-2,319.77M	-2,733.55M	-3,101.57M	87.43M	-4,351.09M	-4,020.37M	27.12M	23.80M	0.00M	0.00M	0.00M	0.00M
Total Liabilities & Equity	11,050.77M	8,312.26M	11,050.77M	9,601.87M	8,145.75M	9,707.31M	7,893.25M	7,641.74M	14,179.24M	2,000.27M	3,381.65M	5,063.93M	6,359.52M	5,513.52M	6,172.87M	827.77M	2,586.23M	2,064.05M	-2,529.43M	-2,137.27M	1,929.27M	1,778.35M	-197.00M	0.00M	0.00M	0.00M
Tangible Assets	7,611.15M	7,219.36M	7,611.15M	7,045.97M	6,214.99M	7,432.64M	7,407.95M	7,334.61M	6,950.81M	6,371.99M	6,024.01M	8,544.31M	8,371.39M	7,287.48M	6,638.04M	4,700.80M	4,153.80M	3,467.82M	3,655.47M	3,808.08M	4,624.54M	3,561.37M	3,685.42M	4,170.07M	6,487.70M	5,229.18M
Tangible Equity	1,608.88M	-121.85M	1,608.88M	-420.56M	-995.05M	-1,392.87M	335.53M	420.88M	5,709.94M	-6,736.13M	-6,227.56M	-3,767.36M	-4,228.98M	-4,588.80M	-5,308.99M	-5,335.21M	-5,638.15M	-805.03M	-5,069.24M	-4,800.88M	-756.81M	-776.16M	0.00M	0.00M	0.00M	0.00M
Tangible Book Value	1,608.88M	-121.85M	1,608.88M	-420.56M	-995.05M	-1,392.87M	335.53M	420.88M	5,709.94M	-6,736.13M	-6,227.56M	-3,767.36M	-4,228.98M	-4,588.80M	-5,308.99M	-5,335.21M	-5,638.15M	-805.03M	-5,069.24M	-4,800.88M	-756.81M	-776.16M	0.00M	0.00M	0.00M	0.00M
Total Investments	285.51M	239.86M	285.51M	34.96M	176.88M	2,163.00M	504.22M	423.09M	160.99M	486.60M	672.53M	747.93M	0.00M	0.00M	0.00M	0.00M	108.07M	456.86M	390.51M	97.64M	60.67M	74.04M	3,545.69M	3,845.90M	6,096.08M	4,702.83M
Net Debt	-1,966.48M	-1,588.07M	-1,966.48M	-1,513.12M	-1,089.15M	1,125.35M	-506.92M	-325.11M	346.92M	698.43M	1,543.89M	-48.09M	664.99M	1,003.45M	1,949.30M	-1,258.87M	-269.78M	-360.18M	-668.27M	-1,636.50M	-2,316.46M	-1,358.66M	-325.33M	-324.05M	-390.81M	-524.47M

Capital Metrics

Metric	MRQ	MRQ-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30
Working Capital	473.8M	350.2M	473.8M	81.4M	-301.7M	-690.0M	528.0M	686.1M	1,144.1M	413.0M	106.1M	1,663.0M	1,743.7M	968.7M	654.6M	-660.7M	-593.1M	265.9M	483.1M	992.6M	1,640.4M	1,351.1M	327.3M	322.8M	391.1M	526.3M
Total Capital	6,182.8M	6,132.7M	6,182.8M	6,148.8M	5,937.5M	7,569.4M	7,604.7M	7,797.9M	7,360.1M	7,229.5M	7,284.2M	7,167.2M	6,819.9M	6,032.8M	5,580.7M	3,176.9M	3,412.9M	2,727.0M	2,649.1M	2,931.6M	3,558.1M	3,463.9M	3,873.0M	4,168.6M	6,487.2M	5,229.2M
Capital Employed	8,334.2M	8,117.9M	8,334.2M	8,234.4M	8,194.7M	8,489.7M	7,990.1M	7,558.3M	7,209.6M	7,521.1M	7,590.4M	7,540.1M	7,522.1M	6,843.2M	6,932.1M	4,560.3M	4,225.2M	3,641.3M	3,487.9M	3,772.9M	4,364.7M	4,198.9M	3,873.0M	4,168.6M	6,487.2M	5,229.2M
Invested Capital	4,154.8M	4,483.0M	4,154.8M	4,571.9M	4,782.3M	7,184.0M	5,509.8M	5,670.4M	5,404.1M	5,497.5M	6,137.5M	4,268.7M	4,516.1M	4,196.0M	4,935.2M	1,852.1M	2,593.1M	2,366.8M	1,980.9M	1,295.1M	1,241.7M	2,105.2M	3,547.7M	3,844.6M	6,096.4M	4,704.7M

Cash Flow Statement

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30
Net Income	949.03M	692.02M	478.90M	470.13M	268.85M	423.17M	444.62M	378.99M	800.66M	786.96M	843.20M	962.39M	1,130.54M	662.60M	1,015.38M	1,252.91M	901.12M	275.04M	71.20M	337.32M	157.56M	70.02M	338.81M	466.45M	407.09M	109.10M
Depreciation & Amortization	2,543.81M	3,575.15M	0.00M	1,732.05M	1,666.86M	1,740.59M	1,696.58M	1,817.18M	940.69M	1,274.62M	1,363.28M	1,546.44M	1,670.12M	1,771.08M	1,860.47M	1,624.31M	1,148.12M	832.48M	772.54M	734.04M	0.00M	0.00M	456.39M	412.19M	0.00M	0.00M
Deferred Income Tax	0.00M	-18.68M	0.00M	0.00M	-59.46M	18.73M	-163.71M	-3,607.85M	-210.97M	-206.00M	-395.87M	0.00M	-325.35M	-278.64M	-25.20M	-12.34M	0.81M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	1.36M	4.38M	0.00M	1.36M	2.09M	2.28M	8.46M	12.17M	12.47M	2.30M	4.29M	0.00M	0.16M	7.56M	20.15M	48.78M	2.51M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-201.15M	-156.18M	0.00M	-91.05M	57.37M	-21.02M	155.25M	-142.57M	-316.58M	313.28M	-150.66M	-881.10M	358.61M	-152.91M	-333.70M	161.94M	1,068.78M	164.32M	-17.44M	-53.35M	32.27M	220.75M	-64.87M	-94.63M	0.00M	0.00M
Accounts Receivable	-121.25M	85.26M	0.00M	-121.25M	63.67M	21.60M	153.03M	116.74M	-75.59M	-67.66M	46.73M	-68.43M	123.20M	45.80M	-144.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-0.74M	-48.91M	0.00M	-0.74M	-6.30M	-42.61M	2.22M	19.83M	81.99M	20.24M	159.07M	-258.52M	-1.90M	22.81M	152.07M	56.27M	-263.59M	27.26M	-6.78M	6.67M	4.51M	109.53M	-64.87M	-94.63M	0.00M	0.00M
Accounts Payable	0.00M	0.00M	0.00M	110.10M	22.69M	-152.59M	104.94M	-97.90M	-108.15M	283.38M	-230.74M	-184.95M	-123.20M	-45.80M	144.18M	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	-79.17M	-192.53M	0.00M	-79.17M	-22.69M	152.59M	-104.94M	-181.24M	-214.83M	77.32M	-125.71M	-369.20M	237.32M	-221.53M	-341.59M	105.67M	1,332.37M	137.05M	-10.66M	-60.01M	27.76M	111.23M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-163.34M	7,289.98M	-478.90M	49.25M	318.66M	-127.60M	279.23M	3,644.22M	77.32M	59.49M	85.45M	-114.80M	113.30M	144.80M	120.86M	108.61M	65.68M	24.19M	18.74M	-6.23M	751.58M	764.79M	115.92M	16.97M	436.80M	277.87M
Net Cash from Operating Activities	3,129.70M	4,406.85M	0.00M	2,161.74M	2,254.36M	2,036.16M	2,420.43M	2,102.12M	1,303.58M	2,230.64M	1,749.69M	1,512.93M	2,947.38M	2,154.48M	2,657.96M	3,184.21M	3,187.02M	1,296.02M	845.04M	1,011.79M	941.41M	1,055.57M	846.25M	800.99M	843.89M	386.97M
Capital Expenditures (PPE)	-1,094.38M	-1,892.77M	0.00M	-601.55M	-708.77M	-711.68M	-850.51M	-636.11M	-581.80M	-1,199.82M	-3,358.50M	-1,118.44M	-1,874.30M	-1,488.79M	-3,128.09M	-937.49M	-680.01M	-487.26M	-513.09M	-533.86M	-391.65M	-470.55M	-745.58M	-343.38M	-395.52M	-267.26M
Acquisitions (Net)	1.34M	-8.15M	0.00M	0.00M	0.57M	-8.72M	0.34M	0.27M	8.07M	1.73M	3.40M	8.78M	-1,117.20M	0.00M	-1,872.78M	0.00M	0.00M	0.00M	2.84M	79.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	-1,755.05M	0.00M	0.00M	-1,778.63M	-1,755.05M	-506.59M	-358.88M	-77.50M	-1.73M	-3.40M	-860.00M	-510.91M	0.00M	-1,801.39M	0.00M	0.00M	-386.20M	-314.05M	-40.73M	0.00M	0.00M	0.00M	-945.84M	0.00M	0.00M
Sales / Maturities of Investments	36.84M	1,840.19M	0.00M	36.84M	1,778.06M	62.13M	302.42M	369.21M	0.90M	174.25M	369.05M	624.66M	0.24M	518.60M	79.15M	333.97M	309.81M	0.00M	0.72M	43.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	-46.10M	0.00M	0.00M	-157.20M	1,639.76M	-208.32M	-81.62M	358.88M	147.09M	64.36M	61.18M	924.33M	1,183.57M	110.58M	1,911.38M	-1,225.16M	-2,213.68M	-570.68M	-278.78M	-346.13M	510.83M	111.54M	472.46M	107.29M	-14.01M	-602.67M
Net Cash from Investing Activities	-1,102.31M	-1,815.78M	0.00M	-721.91M	930.98M	-2,621.64M	-1,135.95M	-266.63M	-503.23M	-961.21M	-2,924.87M	-420.67M	-2,318.61M	-859.61M	-4,811.74M	-1,828.68M	-2,583.89M	-1,444.14M	-1,102.35M	-797.46M	119.19M	-359.01M	-273.11M	-1,181.93M	-409.54M	-869.93M
Net Debt Issuance	-322.61M	-69.68M	0.00M	-2.20M	-658.07M	-756.44M	-935.27M	-493.53M	-128.43M	-280.83M	-182.86M	-132.73M	115.61M	248.83M	2,526.16M	-484.00M	550.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-150.00M	150.00M	0.00M	0.00M
Long-Term Debt Issuance	-322.61M	-69.68M	0.00M	-2.20M	-1,446.44M	-96.43M	-222.78M	-493.53M	-128.43M	-139.71M	-182.86M	-132.73M	115.61M	248.83M	2,576.10M	-484.00M	550.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-150.00M	150.00M	0.00M	0.00M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	-660.01M	-712.48M	0.00M	0.00M	-141.12M	0.00M	0.00M	0.00M	0.00M	-49.94M	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	-18.09M	-29.13M	0.00M	-16.68M	1.57M	-25.92M	-54.11M	-23.75M	-66.72M	-265.60M	-87.72M	136.15M	109.82M	-56.59M	6.53M	27.39M	-125.26M	-76.94M	-195.73M	-55.44M	-21.83M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	0.00M	146.99M	0.00M	0.00M	4.77M	0.00M	0.00M	0.00M	-8.99M	0.00M	0.00M	136.15M	109.82M	1.79M	6.53M	27.39M	55.77M	0.00M	0.00M	8.81M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-18.09M	-29.13M	0.00M	-16.68M	-3.21M	-25.92M	-54.11M	-23.75M	-57.74M	-265.60M	-87.72M	0.00M	0.00M	-56.59M	0.00M	0.00M	-181.02M	-76.94M	-195.73M	-64.25M	-22.08M	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	0.00M	-1.79M	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	-545.98M	-664.62M	0.00M	-353.12M	-331.76M	-332.85M	-328.41M	-389.26M	-373.96M	-147.11M	-306.29M	-463.88M	-392.38M	-284.83M	-997.74M	-852.26M	-153.00M	-132.41M	0.00M	0.00M	0.00M	0.00M	-303.05M	-2,322.71M	-142.89M	0.00M
Common Dividends Paid	-545.98M	-664.62M	0.00M	-353.12M	-331.76M	-332.85M	-328.41M	-389.26M	-373.96M	-147.11M	-306.29M	-463.88M	-392.38M	-284.83M	-997.74M	-852.26M	-497.00M	-89.39M	-110.99M	0.00M	0.00M	0.00M	-303.05M	-2,322.71M	-142.89M	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	-43.02M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-646.07M	-2,776.07M	0.00M	-646.07M	-1,427.21M	-8.80M	0.00M	-758.47M	0.00M	2.39M	-2.40M	0.19M	3.69M	-11.38M	-4.34M	402.24M	-71.19M	49.05M	-70.78M	-847.60M	-89.64M	-95.87M	-10.08M	61.05M	111.16M	-443.32M
Net Cash from Financing Activities	-1,532.74M	-3,530.69M	0.00M	-1,018.06M	-2,415.48M	-1,124.01M	-1,317.78M	-1,665.02M	-569.11M	-691.16M	-579.26M	-460.27M	-163.26M	-103.97M	1,530.61M	-906.62M	-143.45M	-160.29M	-377.50M	-903.04M	-111.47M	-95.87M	-463.65M	-2,111.66M	-31.73M	-443.32M
Effect of FX on Cash	-0.14M	-0.11M	0.00M	0.00M	-0.18M	0.08M	0.78M	0.95M	-7.21M	6.88M	2.72M	-37.27M	1.49M	0.36M	0.27M	-0.28M	-0.09M	0.32M	-0.26M	-0.01M	4.41M	0.17M	0.00M	0.07M	0.00M	0.00M
Net Change in Cash	-1,155.15M	-939.73M	-1,576.92M	421.76M	769.69M	-1,709.42M	-32.53M	171.42M	224.04M	585.16M	-1,751.72M	594.73M	467.01M	1,191.27M	-622.90M	448.62M	459.60M	-308.09M	-635.07M	-688.72M	953.53M	600.86M	109.49M	-2,492.54M	402.62M	-926.27M
Cash at Beginning of Period	5,429.50M	5,396.94M	1,576.92M	1,155.15M	385.47M	2,094.88M	2,127.41M	1,955.99M	1,731.95M	1,146.80M	2,898.51M	2,303.78M	1,836.77M	645.50M	1,268.40M	819.78M	360.18M	668.27M	1,303.34M	1,992.06M	1,038.53M	437.67M	328.19M	2,820.73M	2,418.11M	3,344.38M
Cash at End of Period	4,274.34M	4,457.21M	0.00M	1,576.92M	1,155.15M	385.47M	2,094.88M	2,127.41M	1,955.99M	1,731.95M	1,146.80M	2,898.51M	2,303.78M	1,836.77M	645.50M	1,268.40M	819.78M	360.18M	668.27M	1,303.34M	1,992.06M	1,038.53M	437.67M	328.19M	2,820.73M	2,418.11M
Operating Cash Flow	3,129.70M	4,406.85M	0.00M	2,161.74M	2,254.36M	2,036.16M	2,420.43M	2,102.12M	1,303.58M	2,230.64M	1,749.69M	1,512.93M	2,947.38M	2,154.48M	2,657.96M	3,184.21M	3,187.02M	1,296.02M	845.04M	1,011.79M	941.41M	1,055.57M	846.25M	800.99M	843.89M	386.97M
Capital Expenditure	-934.56M	-1,892.77M	0.00M	-601.55M	-708.77M	-711.68M	-850.51M	-636.11M	-581.80M	-1,199.82M	-3,358.50M	-1,118.44M	-1,874.30M	-1,488.79M	-3,128.09M	-937.49M	-680.01M	-487.26M	-513.09M	-533.86M	-391.65M	-470.55M	-745.58M	-343.38M	-395.52M	-267.26M
Free Cash Flow	2,195.14M	2,514.08M	0.00M	1,560.20M	1,545.59M	1,324.48M	1,569.92M	1,466.01M	721.79M	1,030.82M	-1,608.80M	394.49M	1,073.08M	665.70M	-470.13M	2,246.72M	2,507.01M	808.76M	331.95M	477.93M	549.76M	585.02M	100.67M	457.61M	448.37M	119.71M

Free Cash Flow

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30
EBITDA	6,741.29M	5,038.63M	4,301.12M	5,107.24M	5,165.79M	5,314.99M	5,172.36M	2,428.54M	4,552.11M	4,135.25M	6,571.52M	6,090.34M	6,603.96M	6,285.59M	6,809.68M	7,387.23M	4,188.05M	2,748.06M	2,419.42M	2,546.54M	2,224.72M	3,527.03M	4,075.88M	3,779.23M	2,831.54M	2,401.25M
(-) Tax Adjustment	1,933.88M	1,729.11M	1,215.81M	1,486.71M	1,808.03M	1,567.44M	1,331.16M	687.77M	1,033.98M	944.82M	1,382.82M	1,107.35M	1,140.94M	1,238.75M	1,119.70M	1,251.22M	632.40M	0.00M	324.50M	236.61M	300.82M	298.93M	448.65M	539.37M	0.00M	0.00M
(-) Change In Working Capital	-201.15M	-156.18M	0.00M	-91.05M	57.37M	-21.02M	155.25M	-142.57M	-316.58M	313.28M	-150.66M	-881.10M	358.61M	-152.91M	-333.70M	161.94M	1,068.78M	164.32M	-17.44M	-53.35M	32.27M	220.75M	-64.87M	-94.63M	0.00M	0.00M
(-) Capital Expenditure	-934.56M	-1,892.77M	0.00M	-601.55M	-708.77M	-711.68M	-850.51M	-636.11M	-581.80M	-1,199.82M	-3,358.50M	-1,118.44M	-1,874.30M	-1,488.79M	-3,128.09M	-937.49M	-680.01M	-487.26M	-513.09M	-533.86M	-391.65M	-470.55M	-745.58M	-343.38M	-395.52M	-267.26M
Unlevered Free Cash Flow	4,074.00M	1,572.93M	3,085.32M	3,110.03M	2,591.62M	3,056.90M	2,835.44M	1,247.23M	3,252.91M	1,677.33M	1,980.86M	4,745.66M	3,230.11M	3,710.97M	2,895.58M	5,036.58M	1,806.86M	2,096.49M	1,599.27M	1,829.42M	1,499.99M	2,536.80M	2,946.52M	2,991.11M	2,436.02M	2,134.00M
(-) Net Interest Income After Taxes	38.79M	-13.28M	19.31M	-24.24M	-29.54M	-71.45M	-56.39M	-31.61M	-22.86M	-28.07M	-37.05M	-33.77M	-42.82M	-35.80M	-100.98M	-6.67M	-55.76M	-52.55M	-42.14M	-6.35M	18.40M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	-322.61M	-69.68M	0.00M	-2.20M	-658.07M	-756.44M	-935.27M	-493.53M	-128.43M	-280.83M	-182.86M	-132.73M	115.61M	248.83M	2,526.16M	-484.00M	550.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-150.00M	150.00M	0.00M	0.00M
Levered Free Cash Flow	3,712.60M	1,516.53M	3,066.00M	3,132.07M	1,963.08M	2,371.90M	1,956.57M	785.32M	3,147.35M	1,424.57M	1,835.05M	4,646.70M	3,388.54M	3,995.60M	5,522.73M	4,559.25M	2,412.62M	2,149.04M	1,641.40M	1,835.76M	1,481.59M	2,536.80M	2,796.52M	3,141.11M	2,436.02M	2,134.00M