Beijing Enterprises Holdings Limited (0392.HK)

Industry: Conglomerates Sector: Industrials Currency Used: HK Live Price: $32.00

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	1999
Stock Price	26.63	27.90	26.45	27.23	25.60	37.90	39.85	42.25	40.23	52.65	67.08	64.73	48.50	43.58	49.45	47.48	28.55	33.38	15.17	12.00	10.43	7.83	8.00	8.75	8.75	8.75
Market Capitalization	33,515.87M	35,159.67M	33,347.36M	34,359.40M	32,308.56M	47,831.82M	50,292.82M	53,323.28M	50,962.64M	67,600.47M	86,096.42M	76,514.74M	56,334.69M	51,748.09M	57,522.53M	54,552.71M	32,497.41M	31,963.33M	9,440.21M	8,543.35M	6,549.35M	4,877.53M	4,987.91M	5,433.73M	5,453.98M	5,426.18M
(-) Cash & Equivalents	34,619.16M	27,216.61M	27,944.80M	31,669.04M	26,691.37M	20,028.76M	17,204.88M	17,495.27M	14,314.35M	13,931.30M	12,107.46M	11,866.12M	13,728.95M	14,706.79M	13,058.20M	9,834.26M	3,333.47M	4,036.24M	1,354.20M	96.25M	244.73M	294.87M	355.88M	387.66M	1,843.24M	1,194.88M
(+) Total Debt	86,875.75M	79,736.69M	75,510.84M	72,549.30M	68,067.09M	63,768.64M	60,151.16M	60,238.64M	50,675.73M	35,467.74M	31,544.90M	25,402.77M	26,142.50M	16,276.15M	14,091.47M	10,920.15M	3,791.97M	2,961.80M	950.71M	332.39M	700.43M	700.43M	700.43M	700.92M	2,183.76M	1,513.69M
Enterprise Value	85,772.47M	87,679.75M	80,913.40M	75,239.66M	73,684.28M	91,571.70M	93,239.10M	96,066.65M	87,324.02M	89,136.92M	105,533.86M	90,051.38M	68,748.24M	53,317.45M	58,555.80M	55,638.60M	32,955.90M	30,888.89M	9,036.72M	8,779.49M	7,005.04M	5,283.09M	5,332.45M	5,746.99M	5,794.49M	5,745.00M

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	1999-12-31
Revenue	172,635M	180,708M	91,144M	90,556M	92,297M	80,522M	68,407M	67,783M	67,765M	57,508M	55,959M	60,150M	47,936M	42,361M	35,570M	30,472M	27,613M	24,208M	19,704M	11,300M	7,247M	11,001M	9,666M	7,970M	7,012M	6,227M	5,213M	3,824M
Cost of Revenue	149,259M	157,441M	77,291M	78,913M	81,460M	69,439M	57,738M	56,908M	57,201M	48,145M	46,523M	51,099M	39,360M	34,023M	28,208M	23,738M	21,214M	18,390M	15,199M	8,157M	4,815M	8,025M	7,006M	5,689M	4,937M	4,416M	3,725M	2,639M
Gross Profit	23,376M	23,267M	13,853M	11,643M	10,836M	11,083M	10,670M	10,875M	10,564M	9,363M	9,436M	9,051M	8,576M	8,337M	7,362M	6,734M	6,399M	5,819M	4,505M	3,143M	2,431M	2,975M	2,660M	2,281M	2,075M	1,811M	1,488M	1,185M
Gross Profit Margin	13.5%	12.9%	15.2%	12.9%	11.7%	13.8%	15.6%	16.0%	15.6%	16.3%	16.9%	15.0%	17.9%	19.7%	20.7%	22.1%	23.2%	24.0%	22.9%	27.8%	33.6%	27.0%	27.5%	28.6%	29.6%	29.1%	28.5%	31.0%
R&D Expenses	3,996M	3,667M	2,101M	1,895M	2,315M	1,414M	354M	268M	61M	72M	87M	85M	89M	89M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	18,063M	15,947M	8,543M	9,128M	7,573M	7,012M	6,638M	6,964M	7,023M	6,666M	6,644M	6,512M	6,004M	5,957M	5,393M	4,642M	3,771M	3,154M	2,601M	1,780M	1,693M	2,204M	1,930M	1,567M	1,376M	1,138M	887M	639M
Operating Expenses	17,092M	15,947M	10,645M	7,338M	7,316M	7,420M	6,992M	7,232M	101M	132M	670M	1,274M	1,597M	2,081M	5,340M	3,512M	3,502M	2,900M	1,808M	1,334M	1,969M	2,445M	1,735M	1,702M	1,500M	1,252M	671M	463M
Operating Income (EBIT)	6,284M	7,319M	3,209M	4,305M	3,520M	3,663M	3,678M	3,643M	10,462M	9,231M	8,766M	7,777M	6,979M	6,257M	2,022M	3,222M	2,897M	2,919M	2,697M	1,809M	463M	530M	925M	579M	575M	560M	817M	722M
Operating Income Margin	3.6%	4.1%	3.5%	4.8%	3.8%	4.5%	5.4%	5.4%	15.4%	16.1%	15.7%	12.9%	14.6%	14.8%	5.7%	10.6%	10.5%	12.1%	13.7%	16.0%	6.4%	4.8%	9.6%	7.3%	8.2%	9.0%	15.7%	18.9%
Interest Income	2,119M	1,478M	1,104M	983M	728M	730M	665M	316M	1,367M	1,198M	222M	163M	164M	178M	254M	151M	92M	90M	116M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	5,475M	4,224M	2,501M	2,915M	2,071M	1,794M	1,997M	2,196M	1,989M	1,605M	1,490M	1,302M	1,172M	1,134M	997M	647M	370M	360M	407M	243M	0M	306M	192M	269M	268M	198M	92M	59M
Net Interest Income	-3,356M	-2,746M	-1,397M	-1,932M	-1,342M	-1,064M	-1,332M	-1,880M	-622M	-407M	-1,269M	-1,139M	-1,009M	-956M	-743M	-495M	-278M	-270M	-291M	-243M	0M	-306M	-192M	-269M	-268M	-198M	-92M	-59M
Unusual Items	9,610M	3,049M	6,370M	5,622M	7,180M	9,034M	4,307M	822M	-745M	-791M	0M	0M	0M	0M	2,923M	1,522M	1,176M	957M	650M	448M	-38M	665M	162M	525M	439M	540M	0M	0M
EBT Excluding Unusual Items	2,928M	4,573M	1,812M	2,373M	2,177M	2,599M	2,346M	1,763M	9,841M	8,824M	7,497M	6,638M	5,970M	5,301M	1,279M	2,726M	2,619M	2,649M	2,406M	1,566M	463M	225M	733M	310M	307M	362M	725M	662M
Pre-Tax Income	12,538M	7,622M	8,182M	7,995M	9,357M	11,634M	6,653M	2,585M	9,095M	8,032M	7,497M	6,638M	5,970M	5,301M	4,202M	4,249M	3,795M	3,605M	3,056M	2,014M	424M	890M	894M	835M	746M	901M	725M	662M
Pre-Tax Margin	7.3%	4.2%	9.0%	8.8%	10.1%	14.4%	9.7%	3.8%	13.4%	14.0%	13.4%	11.0%	12.5%	12.5%	11.8%	13.9%	13.7%	14.9%	15.5%	17.8%	5.9%	8.1%	9.3%	10.5%	10.6%	14.5%	13.9%	17.3%
Income Tax Expense	2,271M	2,218M	1,335M	955M	1,093M	1,115M	1,007M	1,022M	1,159M	845M	858M	682M	565M	545M	569M	583M	685M	559M	359M	291M	170M	175M	229M	204M	227M	168M	146M	105M
Net Income	10,063M	15,824M	5,555M	6,061M	7,375M	9,919M	5,287M	8,055M	7,577M	6,880M	6,236M	5,667M	4,832M	4,184M	3,270M	2,776M	2,639M	2,399M	2,282M	1,804M	608M	570M	503M	453M	410M	578M	578M	558M
Net Income Margin	5.8%	8.8%	6.1%	6.7%	8.0%	12.3%	7.7%	11.9%	11.2%	12.0%	11.1%	9.4%	10.1%	9.9%	9.2%	9.1%	9.6%	9.9%	11.6%	16.0%	8.4%	5.2%	5.2%	5.7%	5.9%	9.3%	11.1%	14.6%
Depreciation & Amortization	8,250M	10,080M	4,518M	4,584M	4,604M	5,250M	4,504M	4,161M	3,914M	3,442M	3,271M	2,664M	2,322M	2,248M	1,863M	1,774M	1,489M	1,415M	1,322M	894M	0M	-521M	0M	-347M	-330M	-384M	0M	0M
EBITDA	14,534M	17,399M	7,726M	8,889M	8,124M	8,913M	8,182M	7,803M	14,376M	12,673M	12,037M	10,440M	9,302M	8,504M	3,885M	4,996M	4,386M	4,334M	4,019M	2,703M	463M	10M	925M	232M	245M	176M	817M	722M
EBITDA Margin	8.4%	9.6%	8.5%	9.8%	8.8%	11.1%	12.0%	11.5%	21.2%	22.0%	21.5%	17.4%	19.4%	20.1%	10.9%	16.4%	15.9%	17.9%	20.4%	23.9%	6.4%	0.1%	9.6%	2.9%	3.5%	2.8%	15.7%	18.9%
NOPAT	5,146M	5,190M	2,685M	3,791M	3,108M	3,312M	3,122M	2,202M	9,129M	8,259M	7,763M	6,978M	6,319M	5,613M	1,748M	2,779M	2,374M	2,466M	2,380M	1,548M	277M	426M	687M	438M	400M	455M	652M	608M
NOPAT Margin	3.0%	2.9%	2.9%	4.2%	3.4%	4.1%	4.6%	3.2%	13.5%	14.4%	13.9%	11.6%	13.2%	13.3%	4.9%	9.1%	8.6%	10.2%	12.1%	13.7%	3.8%	3.9%	7.1%	5.5%	5.7%	7.3%	12.5%	15.9%
Owner's Earnings	4,943M	1,941M	3,530M	891M	-1,445M	3,665M	3,601M	7,543M	4,340M	2,131M	5,243M	4,371M	4,640M	20M	-3,001M	226M	329M	1,504M	1,004M	1,261M	-914M	-1,319M	-571M	-697M	-708M	-381M	-13M	-154M
Owner's Earnings Margin	2.9%	1.1%	3.9%	1.0%	-1.6%	4.6%	5.3%	11.1%	6.4%	3.7%	9.4%	7.3%	9.7%	0.0%	-8.4%	0.7%	1.2%	6.2%	5.1%	11.2%	-12.6%	-12.0%	-5.9%	-8.7%	-10.1%	-6.1%	-0.3%	-4.0%
EPS (Basic)	7.99	12.55	4.33	4.81	5.84	7.86	4.19	6.38	6.00	5.45	4.92	4.41	3.78	3.61	2.84	2.44	2.32	2.11	2.01	1.72	0.54	0.92	0.81	0.72	0.65	0.93	0.84	0.79
EPS (Diluted)	7.99	12.55	4.41	4.81	5.85	7.86	4.19	6.38	6.00	5.45	4.92	4.41	3.76	3.51	2.75	2.34	2.22	2.06	2.00	2.09	0.98	0.72	0.79	0.72	0.66	0.93	0.93	0.90
Shares (Basic)	1,259M	1,261M	1,259M	1,260M	1,262M	1,262M	1,262M	1,262M	1,262M	1,262M	1,267M	1,284M	1,279M	1,160M	1,138M	1,138M	1,137M	1,137M	1,138M	860M	623M	777M	621M	625M	626M	621M	625M	619M
Shares (Diluted)	1,259M	1,261M	1,259M	1,260M	1,262M	1,262M	1,262M	1,262M	1,262M	1,262M	1,267M	1,284M	1,285M	1,191M	1,188M	1,188M	1,188M	1,166M	1,139M	861M	623M	794M	637M	634M	626M	621M	625M	619M

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	1999-12-31
Cash & Cash Equivalents	32,967.33M	32,943.84M	32,943.84M	26,549.83M	26,284.85M	31,646.62M	29,018.84M	22,057.31M	17,935.50M	17,841.61M	15,971.55M	13,693.80M	11,207.71M	10,795.47M	12,236.96M	12,579.44M	14,446.80M	9,486.03M	6,666.94M	8,072.48M	2,708.40M	192.51M	489.46M	589.73M	711.76M	775.33M	3,686.48M	3,584.63M
Short-Term Investments	0.00M	0.00M	0.00M	5,198.27M	5,234.35M	1,628.13M	378.56M	138.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	36.63M	0.00M	0.00M	0.00M	39.25M	9.71M	34.63M	37.09M	40.92M	38.86M	29.65M	326.81M	30.98M
Cash & Short-Term Investments	32,967.33M	32,943.84M	32,943.84M	31,748.10M	31,519.20M	33,274.76M	29,397.40M	22,195.62M	17,935.50M	17,841.61M	15,971.55M	13,693.80M	11,207.71M	10,795.47M	12,236.96M	12,616.07M	14,446.80M	9,486.03M	6,666.94M	8,111.73M	2,718.10M	227.14M	526.55M	630.65M	750.62M	804.97M	4,013.28M	3,615.62M
Net Receivables	5,882.40M	6,107.74M	6,107.74M	6,607.74M	6,245.82M	7,478.26M	7,579.71M	6,605.58M	5,582.95M	5,458.43M	3,906.64M	5,135.20M	7,733.25M	5,123.56M	3,630.12M	5,538.52M	0.00M	0.00M	3,036.80M	-10.77M	0.00M	991.36M	0.00M	0.00M	0.00M	0.00M	871.37M	716.59M
Inventory	7,128.25M	7,252.61M	7,252.61M	5,665.31M	5,680.63M	6,218.95M	5,143.96M	5,189.19M	5,138.62M	5,294.48M	4,952.95M	4,644.20M	5,393.37M	5,661.49M	5,913.96M	5,285.61M	3,726.62M	2,995.04M	3,067.44M	2,342.26M	1,648.71M	0.00M	0.00M	0.00M	0.00M	0.00M	695.36M	544.26M
Other Current Assets	952.18M	328.53M	328.53M	1,019.84M	467.81M	2,383.54M	685.63M	427.62M	814.65M	2,472.46M	6,623.18M	7,823.57M	4,867.97M	1,084.88M	5,377.93M	36.63M	0.00M	2,015.70M	1,776.62M	2,876.15M	1,711.91M	1,113.79M	182.22M	16.37M	47.29M	33.91M	844.66M	228.40M
Total Current Assets	46,930.17M	46,632.72M	46,632.72M	45,040.99M	43,913.46M	49,355.50M	42,806.70M	34,418.01M	29,471.72M	31,066.98M	31,454.32M	31,296.77M	29,202.30M	22,665.39M	27,158.98M	23,476.83M	18,173.42M	14,496.76M	14,547.79M	13,319.37M	6,078.72M	2,332.29M	708.77M	647.02M	797.91M	838.88M	6,424.67M	5,104.87M
Property, Plant & Equipment	70,343.77M	63,154.39M	63,154.39M	68,485.80M	66,087.88M	63,105.34M	58,047.68M	54,870.18M	51,717.56M	51,728.82M	43,427.90M	37,735.62M	39,320.53M	38,996.77M	34,445.66M	26,317.18M	22,244.01M	19,045.49M	17,988.22M	17,395.22M	7,954.79M	175.99M	174.67M	0.00M	0.00M	0.00M	6,566.90M	5,979.56M
Goodwill	16,901.62M	14,668.19M	14,668.19M	16,327.56M	16,254.81M	16,253.58M	16,762.01M	16,332.07M	16,553.02M	16,910.28M	15,772.28M	8,927.96M	8,899.77M	7,659.74M	7,549.33M	7,453.56M	7,245.77M	8,649.07M	8,537.76M	7,044.32M	44.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	8,339.04M	7,607.60M	7,607.60M	8,196.50M	24,847.53M	24,734.71M	24,404.96M	23,489.66M	6,253.35M	6,756.27M	6,022.01M	2,533.37M	2,496.11M	670.41M	438.89M	23.68M	1,270.11M	26.91M	14.97M	1,445.24M	1,450.58M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	69,725.52M	66,150.18M	66,150.18M	72,301.78M	72,005.87M	77,246.69M	71,866.80M	67,371.89M	58,943.84M	54,800.06M	36,329.01M	32,804.61M	34,590.02M	30,717.55M	0.00M	13,665.65M	0.00M	12,944.94M	9,974.16M	4,435.17M	864.98M	5,199.24M	6,103.07M	6,048.09M	5,906.17M	6,132.52M	602.71M	889.51M
Tax Assets	0.00M	0.00M	0.00M	0.00M	1,784.82M	2,102.52M	1,799.09M	1,638.77M	1,423.52M	1,293.07M	1,176.53M	779.71M	678.46M	601.06M	562.26M	594.72M	598.16M	564.49M	484.77M	161.23M	0.66M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	14,055.87M	18,697.47M	18,697.47M	9,187.60M	-11,546.90M	-13,430.28M	-14,872.83M	-15,525.48M	-1,423.52M	-1,293.07M	-1,176.53M	-779.71M	-678.46M	-601.06M	19,219.73M	5,802.66M	13,890.67M	1,697.36M	1,740.62M	898.85M	444.67M	174.57M	41.15M	219.80M	219.77M	224.37M	1,708.56M	1,471.43M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	8,232.91M	7,950.87M	9,321.27M	9,126.43M	5,843.98M	5,370.51M	0.00M	0.00M	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	179,365.82M	170,277.83M	170,277.83M	174,499.23M	169,434.02M	170,012.55M	158,007.70M	148,177.09M	141,700.67M	138,146.29M	110,872.46M	91,127.99M	91,150.41M	83,414.97M	62,215.87M	53,857.46M	45,248.72M	42,928.26M	38,740.49M	31,380.03M	10,759.86M	5,549.81M	6,318.88M	6,267.88M	6,125.94M	6,356.89M	8,878.16M	8,340.50M
Total Assets	226,295.99M	216,910.55M	216,910.55M	219,540.23M	213,347.48M	219,368.05M	200,814.40M	182,595.10M	171,172.39M	169,213.27M	142,326.78M	122,424.76M	120,352.71M	106,080.36M	89,374.84M	77,334.29M	63,422.14M	57,425.02M	53,288.29M	44,699.40M	16,838.58M	7,882.10M	7,027.65M	6,914.90M	6,923.85M	7,195.77M	15,302.84M	13,445.37M
Accounts Payable	3,990.62M	3,379.84M	3,379.84M	5,256.97M	4,529.73M	4,339.92M	3,337.52M	3,289.11M	2,635.72M	2,740.50M	3,929.20M	2,637.94M	2,238.40M	2,383.23M	2,616.49M	1,904.59M	4,553.75M	6,893.06M	5,987.78M	6,044.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	9.36M	248.83M
Short-Term Debt	40,001.16M	38,297.26M	38,297.26M	37,848.39M	24,530.11M	26,352.65M	20,009.39M	11,734.21M	1,539.41M	6,391.74M	18,418.56M	7,047.97M	17,775.99M	7,290.09M	6,276.94M	5,704.95M	2,320.31M	3,037.95M	3,172.64M	2,641.28M	1,333.95M	664.78M	0.00M	0.00M	0.00M	0.00M	2,457.21M	2,145.98M
Tax Payables	0.00M	0.00M	0.00M	1,541.99M	1,025.81M	1,249.47M	958.51M	981.22M	1,227.74M	1,077.33M	908.60M	494.15M	608.87M	1,199.74M	745.14M	675.59M	994.70M	953.94M	819.00M	0.00M	0.00M	0.00M	0.00M	8.08M	8.08M	9.36M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	10,022.04M	12,736.18M	11,658.28M	9,756.06M	8,391.03M	653.64M	5,888.94M	-7,047.97M	-17,775.99M	-7,290.09M	0.00M	5,230.21M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	24,169.39M	22,643.76M	22,643.76M	21,510.74M	13,952.22M	-15,326.38M	11,303.39M	10,094.19M	11,537.39M	18,165.23M	9,851.55M	15,141.09M	14,827.03M	15,275.64M	10,929.26M	8,334.81M	7,289.73M	0.00M	0.00M	6.48M	1,059.98M	3,774.51M	0.00M	0.00M	55.80M	58.02M	1,604.60M	0.00M
Total Current Liabilities	68,161.17M	64,320.86M	64,320.86M	66,158.09M	54,059.91M	29,351.84M	47,267.09M	35,854.78M	25,331.29M	29,028.43M	38,996.84M	18,273.18M	17,674.31M	18,858.60M	20,567.83M	21,850.15M	15,158.49M	10,884.94M	9,979.42M	8,691.79M	2,393.93M	4,439.28M	0.00M	8.08M	63.89M	67.38M	4,071.17M	2,394.81M
Long-Term Debt	46,947.50M	45,664.42M	45,664.42M	46,032.09M	52,778.00M	45,652.65M	48,631.64M	52,033.28M	57,983.31M	54,095.37M	32,210.54M	27,707.64M	19,439.17M	18,479.22M	20,337.60M	14,481.03M	9,877.74M	7,985.73M	4,411.30M	3,282.33M	567.46M	0.00M	1,400.85M	1,400.85M	1,400.85M	1,401.84M	1,013.03M	2,395.09M
Capital Lease Obligations	769.48M	641.75M	641.75M	694.30M	483.77M	592.16M	608.81M	684.28M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	2,243.03M	2,363.55M	2,376.86M	2,497.22M	2,654.24M	2,576.09M	2,250.42M	2,594.48M	2,081.42M	480.48M	319.44M	233.46M	375.98M	371.35M	364.05M	413.14M	279.86M	49.35M	20.51M	0.00M	0.00M	0.00M	0.00M	0.00M	6.46M	6.85M
Other Non-Current Liabilities	8,479.69M	7,504.15M	3,768.65M	3,651.79M	2,918.91M	3,425.51M	3,181.41M	2,798.10M	2,558.51M	2,415.71M	2,418.33M	886.65M	1,521.00M	609.66M	711.89M	497.26M	930.42M	196.06M	518.23M	360.46M	21.57M	664.78M	0.00M	0.00M	0.00M	0.00M	-6.46M	106.45M
Total Non-Current Liabilities	56,196.67M	53,810.31M	52,317.84M	52,741.73M	58,557.54M	52,167.55M	55,076.10M	58,091.76M	62,792.24M	59,105.56M	36,710.28M	29,074.77M	21,279.61M	19,322.34M	21,425.48M	15,349.65M	11,172.22M	8,594.92M	5,209.39M	3,692.14M	609.54M	664.78M	1,400.85M	1,400.85M	1,400.85M	1,401.84M	1,013.03M	2,508.39M
Total Liabilities	124,357.83M	118,131.17M	116,638.70M	118,899.82M	112,617.45M	81,519.39M	102,343.19M	93,946.54M	88,123.52M	88,133.99M	75,707.12M	47,347.95M	38,953.92M	38,180.95M	41,993.31M	37,199.80M	26,330.71M	19,479.86M	15,188.81M	12,383.94M	3,003.48M	5,104.06M	1,400.85M	1,408.93M	1,464.74M	1,469.22M	5,084.19M	4,903.20M
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	0.00M
Common Stock	31,054.07M	28,340.05M	28,340.05M	31,177.89M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	30,401.88M	127.02M	113.76M	113.76M	113.74M	113.74M	113.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Retained Earnings	73,046.55M	50,724.22M	50,724.22M	66,805.00M	47,442.88M	45,275.65M	38,117.84M	35,395.25M	41,085.89M	34,770.56M	29,092.93M	24,821.24M	20,404.85M	16,766.14M	0.00M	371.52M	5,513.73M	4,278.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accumulated OCI	-7,638.90M	9,447.48M	9,447.48M	9,323.32M	12,075.21M	20,300.18M	16,377.39M	9,484.50M	9,335.86M	12,248.83M	6,606.31M	10,611.96M	0.00M	0.00M	-12,440.85M	0.00M	-9,084.05M	-7,479.13M	-6,218.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	14,905.68M	13,549.93M	13,549.93M	13,258.44M	13,118.73M	13,089.26M	12,528.62M	11,733.19M	11,342.76M	11,604.96M	10,717.72M	10,464.90M	10,919.62M	10,046.84M	8,030.22M	7,587.06M	6,668.35M	7,711.92M	6,678.52M	4,689.46M	4,189.10M	0.00M	0.00M	0.00M	0.00M	0.00M	2,776.81M	2,182.66M
Total Shareholders’ Equity	96,461.72M	88,511.75M	88,511.75M	107,306.21M	89,919.97M	95,977.71M	84,897.11M	75,281.64M	80,823.63M	77,421.27M	66,101.12M	65,835.09M	50,806.73M	16,893.16M	-12,327.09M	485.28M	-3,456.59M	-3,087.21M	-6,104.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Equity	111,367.41M	102,061.68M	102,061.68M	120,564.64M	103,038.70M	109,066.97M	97,425.72M	87,014.83M	92,166.39M	89,026.22M	76,818.84M	76,299.99M	61,726.36M	26,940.00M	-4,296.87M	8,072.34M	3,211.77M	4,624.71M	573.83M	4,689.46M	4,189.10M	0.00M	0.00M	0.00M	0.00M	0.00M	2,776.81M	2,182.66M
Total Liabilities & Equity	235,725.24M	220,192.85M	218,700.38M	239,464.46M	215,656.15M	190,586.35M	199,768.91M	180,961.37M	180,289.91M	177,160.21M	152,525.96M	123,647.94M	100,680.28M	65,120.95M	37,696.44M	45,272.14M	29,542.48M	24,104.57M	15,762.64M	17,073.39M	7,192.58M	5,104.06M	1,400.85M	1,408.93M	1,464.74M	1,469.22M	7,861.00M	7,085.86M
Tangible Assets	201,055.33M	194,634.76M	194,634.76M	195,016.17M	172,245.14M	178,379.76M	159,647.44M	142,773.36M	148,366.03M	145,546.73M	120,532.49M	110,963.43M	108,956.84M	97,750.21M	81,386.63M	69,857.05M	54,906.26M	48,749.04M	44,735.56M	36,209.84M	15,343.82M	7,882.10M	7,027.65M	6,914.90M	6,923.85M	7,195.77M	15,302.84M	13,445.37M
Tangible Equity	86,126.75M	79,785.89M	79,785.89M	96,040.59M	61,936.35M	68,078.68M	56,258.76M	47,193.10M	69,360.02M	65,359.67M	55,024.55M	64,838.66M	50,330.49M	18,609.86M	-12,285.09M	595.10M	-5,304.12M	-4,051.27M	-7,978.90M	-3,800.11M	2,694.34M	0.00M	0.00M	0.00M	0.00M	0.00M	2,776.81M	2,182.66M
Tangible Book Value	86,126.75M	79,785.89M	79,785.89M	96,040.59M	61,936.35M	68,078.68M	56,258.76M	47,193.10M	69,360.02M	65,359.67M	55,024.55M	64,838.66M	50,330.49M	18,609.86M	-12,285.09M	595.10M	-5,304.12M	-4,051.27M	-7,978.90M	-3,800.11M	2,694.34M	0.00M	0.00M	0.00M	0.00M	0.00M	2,776.81M	2,182.66M
Total Investments	69,725.52M	66,150.18M	66,150.18M	77,545.36M	77,240.21M	78,874.82M	72,245.36M	67,510.21M	58,943.84M	54,800.06M	36,329.01M	32,804.61M	34,590.02M	30,717.55M	16,140.18M	13,702.28M	10,217.50M	12,944.94M	9,974.16M	4,474.42M	874.69M	5,233.87M	6,140.16M	6,089.01M	5,945.03M	6,162.17M	929.51M	920.49M
Net Debt	53,981.33M	51,017.84M	51,017.84M	57,330.65M	51,023.26M	40,358.68M	39,622.18M	41,710.19M	41,587.22M	42,645.50M	34,657.54M	21,061.80M	26,007.46M	14,973.84M	14,377.58M	7,606.55M	-2,248.75M	1,537.65M	916.99M	-2,148.88M	-806.98M	472.27M	911.39M	811.12M	689.09M	626.52M	-216.25M	956.44M

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	1999-12-31
Working Capital	-12,098.4M	-12,863.8M	-12,863.8M	-17,568.2M	-6,118.2M	-6,995.7M	-3,731.4M	-1,419.0M	3,610.6M	1,452.6M	-5,423.9M	7,330.6M	-2,094.3M	302.7M	6,964.8M	7,211.3M	6,989.5M	5,292.1M	2,976.8M	3,749.1M	2,909.5M	-304.0M	625.7M	467.9M	734.0M	771.5M	2,353.5M	2,492.5M
Total Capital	184,179.9M	174,922.9M	174,922.9M	173,681.8M	168,157.4M	168,941.3M	154,264.0M	139,898.1M	129,195.3M	128,055.2M	107,950.3M	92,942.9M	94,391.5M	79,790.5M	66,224.0M	57,795.7M	46,466.0M	42,328.8M	30,537.4M	32,671.1M	10,772.1M	5,910.6M	6,944.6M	6,735.8M	6,860.0M	7,128.4M	10,807.3M	10,683.1M
Capital Employed	167,267.4M	157,414.0M	157,414.0M	156,931.0M	163,315.8M	163,016.9M	154,276.3M	146,758.1M	145,311.3M	139,598.9M	105,448.6M	98,458.6M	89,056.2M	83,717.7M	69,180.6M	61,068.8M	52,238.2M	48,220.4M	41,717.3M	35,129.1M	13,669.3M	5,245.8M	6,944.6M	6,735.8M	6,860.0M	7,128.4M	11,231.7M	10,833.0M
Invested Capital	151,212.5M	141,979.1M	141,979.1M	147,132.0M	141,872.6M	137,294.7M	125,245.2M	117,840.8M	111,259.8M	110,213.5M	91,978.7M	79,249.1M	83,183.8M	68,995.1M	53,987.0M	45,216.2M	32,019.2M	32,842.7M	23,870.4M	24,598.6M	8,063.7M	5,718.1M	6,455.2M	6,146.0M	6,148.2M	6,353.1M	7,120.9M	7,098.4M

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	1999-12-31
Net Income	10,620.38M	15,824.20M	5,451.32M	8,011.16M	7,572.65M	9,918.64M	5,286.89M	8,054.78M	7,577.38M	6,880.38M	6,235.88M	5,667.38M	4,831.68M	4,183.88M	4,201.92M	4,248.70M	3,794.57M	3,605.39M	6,542.65M	1,803.73M	608.25M	570.42M	503.19M	453.27M	410.24M	577.53M	578.42M	557.76M
Depreciation & Amortization	7,266.25M	10,080.19M	4,425.73M	4,584.08M	4,603.86M	5,250.29M	4,503.95M	4,160.55M	3,854.38M	3,400.68M	3,228.54M	2,663.69M	2,322.43M	2,247.63M	1,863.13M	1,773.86M	1,488.67M	1,414.86M	1,321.84M	893.80M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-2,853.23M	-4,557.93M	-2,718.36M	-339.78M	-1,722.46M	-861.19M	233.70M	-669.47M	-1,604.62M	-202.29M	-160.85M	1,222.07M	-719.31M	-847.59M	362.54M	-4,511.37M	1,429.00M	-1,640.12M	-1,516.51M	273.93M	187.70M	77.14M	-511.06M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Receivable	-433.61M	215.68M	-918.60M	386.14M	567.65M	-280.11M	-887.47M	-952.25M	-1,541.34M	-226.82M	271.31M	766.79M	-837.52M	-1,330.16M	0.00M	0.00M	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	-1,856.36M	-1,038.86M	-1,815.83M	-74.62M	-34.99M	-997.45M	305.31M	-127.91M	-63.29M	24.53M	-432.16M	455.29M	118.21M	482.57M	-625.39M	-1,321.01M	-606.33M	55.73M	-654.16M	-523.19M	-336.79M	-220.05M	-305.42M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	0.00M	0.00M	-810.44M	-205.12M	1,500.38M	-462.80M	-177.81M	145.65M	576.06M	-99.73M	352.24M	1,293.20M	0.00M	0.00M	0.00M	0.00M	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	-563.26M	-3,734.74M	-35.41M	-446.19M	-3,755.50M	879.17M	993.67M	265.05M	-576.06M	99.73M	-352.24M	-1,293.20M	-6,143.40M	2,048.76M	987.94M	-3,190.35M	2,035.33M	-1,695.85M	-862.35M	797.11M	524.49M	297.18M	-205.64M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	-1,459.84M	14,163.38M	-15.99M	-3,076.19M	-1,573.99M	-2,755.17M	415.44M	-2,865.08M	-730.46M	-1,751.86M	2,239.22M	5,036.12M	-5,549.65M	569.34M	-1,046.55M	-2,437.46M	229.87M	-286.64M	-4,356.47M	-763.96M	1,458.09M	1,010.36M	1,305.67M	1,297.33M	858.65M	333.69M	945.13M	-47.17M
Net Cash from Operating Activities	13,573.55M	19,907.39M	7,142.70M	9,179.28M	8,880.06M	11,552.57M	10,439.98M	8,680.79M	9,096.68M	8,326.91M	11,542.79M	14,589.26M	885.15M	6,153.26M	5,381.04M	-926.27M	6,942.11M	3,093.49M	1,991.51M	2,207.50M	2,254.04M	1,657.91M	1,297.79M	1,750.60M	1,268.89M	911.22M	1,523.56M	510.59M
Capital Expenditures (PPE)	-10,674.18M	-23,963.63M	0.00M	-9,603.21M	-13,423.82M	-11,504.38M	-6,190.03M	-4,672.34M	-7,150.97M	-8,191.65M	-4,263.54M	-3,960.35M	-2,514.38M	-6,411.31M	-8,134.09M	-4,324.14M	-3,799.02M	-2,309.99M	-2,599.32M	-1,436.86M	-1,521.96M	-1,368.98M	-1,073.70M	-803.56M	-787.64M	-575.39M	-591.64M	-711.56M
Acquisitions (Net)	0.00M	887.06M	0.00M	0.00M	443.97M	486.07M	365.63M	945.13M	187.11M	462.51M	-9,683.36M	-284.69M	-6,074.94M	-502.05M	-2,444.37M	-3,582.97M	-3,672.58M	-606.34M	-591.74M	-1,948.12M	-823.22M	309.64M	-324.91M	87.70M	-478.72M	28.41M	-338.22M	-36.04M
Purchases of Investments	0.00M	-8,576.84M	0.00M	-2,652.66M	-5,000.15M	-1,617.67M	-249.85M	-1,329.96M	-2,888.87M	-9,753.42M	-3,601.38M	-2,757.13M	5,459.93M	261.99M	305.45M	-7.69M	-611.43M	92.48M	-388.90M	-20.00M	-350.68M	-133.89M	-10.83M	-40.01M	-98.53M	-97.34M	-535.00M	-196.78M
Sales / Maturities of Investments	253.78M	2,353.41M	0.00M	160.18M	2,353.41M	154.55M	31.47M	209.69M	854.35M	97.12M	13,284.74M	190.72M	615.01M	240.06M	904.05M	453.54M	1.73M	8.95M	33.94M	18.54M	134.01M	1.81M	41.51M	51.18M	36.24M	433.65M	45.41M	11.38M
Other Investing Activities	-619.99M	1,210.63M	-7,111.60M	358.32M	1,282.05M	1,140.52M	0.00M	-209.69M	5,051.32M	5,431.23M	250.58M	410.34M	-189.32M	-52.12M	-0.68M	628.59M	-753.88M	-1,413.04M	11.60M	130.86M	287.33M	818.06M	484.98M	-11.67M	-850.80M	-506.91M	2,397.78M	-3,196.26M
Net Cash from Investing Activities	-11,040.40M	-28,089.39M	-7,111.60M	-11,737.37M	-14,344.56M	-11,340.91M	-6,042.78M	-5,057.17M	-3,947.05M	-11,954.21M	-17,297.70M	-6,401.11M	-8,163.62M	-6,725.42M	-9,369.65M	-6,832.68M	-8,835.18M	-4,227.93M	-3,534.41M	-3,255.58M	-2,274.52M	-373.35M	-882.95M	-716.36M	-2,179.45M	-717.58M	978.33M	-4,129.26M
Net Debt Issuance	2,576.53M	10,241.16M	2,891.02M	6,773.33M	4,850.98M	4,072.34M	2,971.94M	2,891.82M	-197.08M	6,623.94M	11,965.83M	-1,591.90M	11,318.81M	285.48M	6,560.30M	7,595.25M	7,284.99M	3,340.45M	45.72M	3,165.79M	-672.08M	-1,036.26M	337.41M	-738.42M	-752.31M	118.14M	-296.76M	1,713.62M
Long-Term Debt Issuance	6,419.86M	10,241.16M	2,891.02M	6,773.33M	4,850.98M	4,072.34M	2,971.94M	2,891.82M	-197.08M	6,623.94M	11,965.83M	-1,591.90M	11,318.81M	285.48M	6,560.30M	7,595.25M	7,284.99M	3,340.45M	45.72M	3,165.79M	-672.08M	-1,036.26M	337.41M	-738.42M	-752.31M	118.14M	-296.76M	1,713.62M
Short-Term Debt Issuance	-3,843.33M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-50.40M	-45.36M	-50.79M	0.00M	-45.36M	0.00M	0.00M	0.00M	0.00M	-3.73M	-705.05M	-92.38M	-69.16M	0.00M	0.00M	-0.80M	0.00M	4.64M	-52.15M	3,630.64M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	0.00M	-465.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3.76M	0.00M	4.64M	0.00M	67.55M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-50.40M	-45.36M	-50.79M	0.00M	-44.15M	0.00M	0.00M	0.00M	0.00M	-3.73M	-705.05M	-92.38M	-69.16M	0.00M	0.00M	-4.56M	0.00M	0.00M	-56.42M	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	-1.18M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-4,357.24M	-3,142.11M	-1,883.11M	-2,484.03M	-1,703.37M	-1,438.74M	-1,438.74M	-1,426.12M	-1,262.05M	-1,199.02M	-1,212.50M	-1,181.60M	-1,123.31M	-863.94M	-796.30M	-796.21M	-796.16M	-739.11M	-854.87M	-525.95M	-351.12M	-258.39M	-269.07M	0.00M	0.00M	-236.07M	-180.79M	-249.24M
Common Dividends Paid	-4,357.24M	-3,142.11M	-1,883.11M	-2,478.14M	-1,622.56M	-1,438.74M	-1,438.74M	-1,426.12M	-1,262.05M	-1,199.02M	-1,212.50M	-1,181.60M	-1,123.31M	-863.94M	-796.30M	-796.21M	-796.16M	-739.11M	-683.06M	-352.99M	-186.75M	-186.75M	-174.30M	-242.44M	0.00M	-236.07M	-177.17M	-249.24M
Preferred Dividends Paid	0.00M	0.00M	0.00M	-5.90M	-80.81M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-171.81M	-172.95M	0.00M	0.00M	-94.77M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-2,386.20M	-2,486.53M	-491.22M	-655.09M	-741.28M	-822.32M	-501.67M	-645.41M	-2,279.43M	-1,820.09M	-1,846.40M	-1,879.04M	-1,561.65M	-501.17M	-1,337.16M	-947.94M	-294.64M	410.19M	356.08M	-125.74M	62.81M	-202.64M	-58.28M	269.08M	235.19M	47.69M	382.39M	262.55M
Net Cash from Financing Activities	-4,217.30M	5,679.87M	465.89M	3,634.21M	2,360.97M	1,811.28M	1,031.53M	820.29M	-3,738.56M	3,601.10M	8,201.87M	-4,744.92M	8,564.68M	-1,079.64M	4,426.84M	5,850.30M	6,217.19M	2,704.97M	-505.22M	6,144.74M	-796.02M	-1,431.26M	10.05M	-711.78M	-517.12M	-70.24M	85.63M	1,726.93M
Effect of FX on Cash	905.54M	-1,294.03M	-889.82M	-758.23M	-2,258.24M	604.07M	1,530.71M	-335.07M	-461.71M	922.24M	-592.38M	-457.72M	-195.05M	268.58M	0.00M	479.63M	354.98M	0.25M	262.13M	239.23M	105.61M	56.43M	-0.05M	0.00M	0.00M	0.00M	4.44M	4.69M
Net Change in Cash	242.71M	-6,134.95M	-392.83M	264.97M	-5,361.77M	2,627.78M	6,961.54M	4,108.19M	949.37M	896.05M	1,854.59M	2,985.51M	1,091.16M	-1,383.22M	438.24M	-1,429.02M	4,679.10M	1,570.78M	-1,785.99M	5,335.89M	-710.89M	-90.27M	424.84M	322.46M	-1,427.67M	123.40M	2,401.04M	-2,120.29M
Cash at Beginning of Period	79,230.97M	119,227.68M	26,508.66M	25,371.69M	31,646.62M	29,018.84M	22,057.31M	17,949.11M	16,959.76M	16,063.72M	14,209.13M	11,223.62M	10,132.46M	11,515.68M	11,077.45M	12,506.46M	7,827.36M	6,256.58M	8,042.57M	2,706.68M	3,417.57M	3,507.84M	3,083.00M	0.00M	0.00M	0.00M	1,185.18M	3,305.47M
Cash at End of Period	79,459.05M	113,092.73M	26,145.71M	26,562.65M	26,284.85M	31,646.62M	29,018.84M	22,057.31M	17,909.13M	16,959.76M	16,063.72M	14,209.13M	11,223.62M	10,132.46M	11,515.68M	11,077.45M	12,506.46M	7,827.36M	6,256.58M	8,042.57M	2,706.68M	3,417.57M	3,507.84M	322.46M	-1,427.67M	123.40M	3,586.22M	1,185.18M
Operating Cash Flow	15,674.37M	19,907.39M	7,142.70M	9,179.28M	8,880.06M	11,552.57M	10,439.98M	8,680.79M	9,096.68M	8,326.91M	11,542.79M	14,589.26M	885.15M	6,153.26M	5,381.04M	-926.27M	6,942.11M	3,093.49M	1,991.51M	2,207.50M	2,254.04M	1,657.91M	1,297.79M	1,750.60M	1,268.89M	911.22M	1,523.56M	510.59M
Capital Expenditure	-13,369.69M	-23,963.63M	-6,542.54M	-9,754.57M	-13,423.82M	-11,504.38M	-6,190.03M	-4,672.34M	-7,150.97M	-8,191.65M	-4,263.54M	-3,960.35M	-2,514.38M	-6,411.31M	-8,134.09M	-4,324.14M	-3,799.02M	-2,309.99M	-2,599.32M	-1,436.86M	-1,521.96M	-1,368.98M	-1,073.70M	-803.56M	-787.64M	-575.39M	-591.64M	-711.56M
Free Cash Flow	2,304.68M	-4,056.24M	600.16M	-575.29M	-4,543.76M	48.19M	4,249.95M	4,008.44M	1,945.72M	135.26M	7,279.25M	10,628.91M	-1,629.22M	-258.05M	-2,753.05M	-5,250.41M	3,143.09M	783.51M	-607.81M	770.64M	732.08M	288.94M	224.09M	947.04M	481.25M	335.82M	931.91M	-200.98M

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	1999-12-31
EBITDA	9,566.90M	13,732.18M	7,726.31M	5,203.44M	5,551.37M	7,907.18M	8,182.22M	7,803.21M	7,393.88M	6,066.29M	5,975.38M	5,118.29M	4,805.18M	4,538.85M	3,832.16M	3,865.61M	4,117.37M	4,078.89M	3,226.18M	2,256.50M	738.46M	250.72M	729.26M	367.19M	368.86M	289.60M	600.48M	546.08M
(-) Tax Adjustment	1,732.83M	3,995.64M	1,260.26M	621.25M	648.56M	757.88M	1,238.16M	2,731.12M	942.02M	638.27M	683.64M	525.84M	454.59M	466.91M	518.89M	530.85M	743.11M	632.41M	379.36M	326.03M	258.46M	49.33M	187.14M	89.64M	112.20M	53.90M	121.15M	86.27M
(-) Change In Working Capital	-2,853.23M	-4,557.93M	-2,718.36M	-339.78M	-1,722.46M	-861.19M	233.70M	-669.47M	-1,604.62M	-202.29M	-160.85M	1,222.07M	-719.31M	-847.59M	362.54M	-4,511.37M	1,429.00M	-1,640.12M	-1,516.51M	273.93M	187.70M	77.14M	-511.06M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Capital Expenditure	-13,369.69M	-23,963.63M	-6,542.54M	-9,754.57M	-13,423.82M	-11,504.38M	-6,190.03M	-4,672.34M	-7,150.97M	-8,191.65M	-4,263.54M	-3,960.35M	-2,514.38M	-6,411.31M	-8,134.09M	-4,324.14M	-3,799.02M	-2,309.99M	-2,599.32M	-1,436.86M	-1,521.96M	-1,368.98M	-1,073.70M	-803.56M	-787.64M	-575.39M	-591.64M	-711.56M
Unlevered Free Cash Flow	-2,682.39M	-9,669.16M	2,641.87M	-4,832.60M	-6,798.56M	-3,493.90M	520.32M	1,069.21M	905.51M	-2,561.34M	1,189.05M	-589.98M	2,555.52M	-1,491.77M	-5,183.36M	3,521.98M	-1,853.76M	2,776.61M	1,764.01M	219.69M	-1,229.66M	-1,244.72M	-20.52M	-526.01M	-530.98M	-339.69M	-112.31M	-251.76M
(-) Net Interest Income After Taxes	-2,747.98M	-1,947.24M	-1,169.24M	-1,701.47M	-1,185.40M	-961.70M	-1,130.77M	-1,222.04M	-542.36M	-364.06M	-1,123.50M	-1,021.80M	-913.20M	-857.50M	-642.27M	-427.38M	-227.76M	-228.07M	-256.64M	-208.13M	0.00M	-245.56M	-142.72M	-203.16M	-186.15M	-161.08M	-73.75M	-50.09M
Net Debt Issuance	2,576.53M	10,241.16M	2,891.02M	6,773.33M	4,850.98M	4,072.34M	2,971.94M	2,891.82M	-197.08M	6,623.94M	11,965.83M	-1,591.90M	11,318.81M	285.48M	6,560.30M	7,595.25M	7,284.99M	3,340.45M	45.72M	3,165.79M	-672.08M	-1,036.26M	337.41M	-738.42M	-752.31M	118.14M	-296.76M	1,713.62M
Levered Free Cash Flow	2,642.12M	2,519.24M	6,702.12M	3,642.20M	-762.17M	1,540.14M	4,623.02M	5,183.06M	1,250.80M	4,426.67M	14,278.37M	-1,160.08M	14,787.52M	-348.80M	2,019.21M	11,544.61M	5,658.98M	6,345.12M	2,066.37M	3,593.60M	-1,901.74M	-2,035.42M	459.61M	-1,061.27M	-1,097.14M	-60.48M	-335.32M	1,511.96M