Chaowei Power Holdings Limited (0951.HK)

Industry: Auto - Parts Sector: Consumer Cyclical Currency Used: CN Live Price: $1.41

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Stock Price	1.36	1.34	1.53	1.84	2.90	2.56	3.02	3.89	5.01	4.32	3.03	2.57	3.20	2.38	1.80	1.74
Market Capitalization	1,501.57M	1,471.52M	1,690.71M	2,032.12M	3,192.71M	2,834.34M	3,340.99M	4,305.04M	5,324.73M	4,386.03M	3,111.43M	2,598.75M	3,220.54M	2,388.53M	1,575.64M	871.70M
(-) Cash & Equivalents	3,222.29M	3,023.37M	2,451.19M	2,304.86M	2,497.50M	2,206.96M	2,458.24M	1,516.88M	840.57M	938.18M	959.05M	869.08M	727.79M	669.52M	337.94M	50.28M
(+) Total Debt	8,033.65M	6,554.35M	6,148.21M	6,668.95M	5,973.63M	5,587.55M	6,778.10M	5,928.52M	3,734.81M	3,532.75M	3,730.08M	2,756.76M	2,126.23M	937.50M	438.06M	70.33M
Enterprise Value	6,312.93M	5,002.50M	5,387.74M	6,396.21M	6,668.84M	6,214.93M	7,660.85M	8,716.68M	8,218.97M	6,980.59M	5,882.46M	4,486.43M	4,618.98M	2,656.51M	1,675.76M	891.75M

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
Revenue	101,434M	64,999M	50,341M	40,375M	31,931M	29,489M	27,305M	27,182M	26,948M	24,654M	21,455M	18,870M	18,187M	14,973M	9,559M	4,932M	3,225M	2,434M
Cost of Revenue	94,271M	57,709M	46,852M	36,775M	28,229M	26,164M	24,007M	23,788M	23,713M	21,731M	18,369M	16,461M	16,140M	12,947M	7,665M	3,350M	2,377M	1,730M
Gross Profit	7,163M	7,290M	3,489M	3,600M	3,702M	3,324M	3,297M	3,393M	3,235M	2,923M	3,086M	2,410M	2,047M	2,027M	1,895M	1,582M	848M	704M
Gross Profit Margin	7.1%	11.2%	6.9%	8.9%	11.6%	11.3%	12.1%	12.5%	12.0%	11.9%	14.4%	12.8%	11.3%	13.5%	19.8%	32.1%	26.3%	28.9%
R&D Expenses	2,753M	2,140M	1,379M	1,214M	1,097M	929M	857M	798M	885M	776M	577M	475M	417M	398M	314M	183M	51M	16M
SG&A Expenses	3,242M	3,205M	1,558M	1,660M	1,618M	1,354M	1,332M	1,461M	1,549M	1,431M	1,476M	1,387M	1,433M	1,003M	736M	635M	426M	406M
Operating Expenses	5,917M	5,180M	3,066M	2,579M	2,441M	2,331M	1,946M	2,040M	2,278M	2,098M	2,053M	1,709M	1,785M	1,358M	1,026M	832M	457M	412M
Operating Income (EBIT)	1,246M	2,110M	423M	1,021M	1,261M	993M	1,351M	1,353M	958M	825M	1,032M	700M	262M	668M	869M	750M	391M	292M
Operating Income Margin	1.2%	3.2%	0.8%	2.5%	3.9%	3.4%	4.9%	5.0%	3.6%	3.3%	4.8%	3.7%	1.4%	4.5%	9.1%	15.2%	12.1%	12.0%
Interest Income	30M	521M	250M	187M	84M	74M	74M	79M	51M	38M	41M	60M	34M	27M	11M	4M	4M	0M
Interest Expense	662M	0M	418M	416M	370M	322M	372M	301M	336M	251M	193M	276M	210M	153M	91M	43M	21M	10M
Net Interest Income	-632M	521M	-167M	-229M	-286M	-248M	-298M	-222M	-286M	-212M	-152M	-216M	-176M	-126M	-80M	-39M	-17M	-10M
Unusual Items	631M	-1,042M	275M	-37M	-156M	39M	12M	-326M	-94M	23M	-175M	62M	-13M	-40M	-36M	0M	-4M	1M
EBT Excluding Unusual Items	614M	2,631M	256M	792M	974M	745M	1,053M	1,131M	672M	612M	880M	484M	86M	542M	789M	711M	374M	283M
Pre-Tax Income	1,246M	1,589M	531M	755M	818M	785M	1,066M	805M	578M	636M	705M	546M	73M	502M	752M	711M	370M	284M
Pre-Tax Margin	1.2%	2.4%	1.1%	1.9%	2.6%	2.7%	3.9%	3.0%	2.1%	2.6%	3.3%	2.9%	0.4%	3.4%	7.9%	14.4%	11.5%	11.7%
Income Tax Expense	305M	503M	106M	224M	230M	250M	341M	299M	200M	164M	86M	58M	35M	113M	133M	121M	67M	58M
Net Income	588M	887M	290M	348M	417M	516M	720M	561M	413M	455M	504M	332M	-29M	310M	496M	455M	268M	202M
Net Income Margin	0.6%	1.4%	0.6%	0.9%	1.3%	1.8%	2.6%	2.1%	1.5%	1.8%	2.3%	1.8%	-0.2%	2.1%	5.2%	9.2%	8.3%	8.3%
Depreciation & Amortization	1,274M	1,714M	644M	684M	743M	705M	601M	585M	442M	406M	353M	324M	257M	206M	118M	62M	42M	30M
EBITDA	2,520M	3,824M	1,067M	1,705M	2,004M	1,698M	1,952M	1,939M	1,399M	1,231M	1,386M	1,024M	519M	874M	987M	812M	433M	323M
EBITDA Margin	2.5%	5.9%	2.1%	4.2%	6.3%	5.8%	7.1%	7.1%	5.2%	5.0%	6.5%	5.4%	2.9%	5.8%	10.3%	16.5%	13.4%	13.3%
NOPAT	941M	1,442M	339M	718M	906M	677M	919M	851M	626M	612M	907M	626M	137M	518M	716M	622M	320M	233M
NOPAT Margin	0.9%	2.2%	0.7%	1.8%	2.8%	2.3%	3.4%	3.1%	2.3%	2.5%	4.2%	3.3%	0.8%	3.5%	7.5%	12.6%	9.9%	9.6%
Owner's Earnings	962M	515M	272M	390M	27M	251M	586M	559M	-139M	14M	95M	38M	-517M	-358M	-519M	-93M	-7M	64M
Owner's Earnings Margin	0.9%	0.8%	0.5%	1.0%	0.1%	0.9%	2.1%	2.1%	-0.5%	0.1%	0.4%	0.2%	-2.8%	-2.4%	-5.4%	-1.9%	-0.2%	2.6%
EPS (Basic)	0.53	0.80	0.26	0.31	0.38	0.47	0.65	0.51	0.37	0.41	0.48	0.33	-0.03	0.31	0.49	0.45	0.31	0.27
EPS (Diluted)	0.53	0.80	0.26	0.31	0.38	0.47	0.65	0.51	0.37	0.44	0.45	0.33	-0.03	0.31	0.47	0.45	0.31	0.27
Shares (Basic)	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,108M	1,043M	1,059M	1,017M	965M	1,005M	1,005M	1,005M	874M	750M
Shares (Diluted)	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,104M	1,108M	1,043M	1,108M	1,017M	1,005M	1,005M	1,046M	1,005M	874M	750M

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
Cash & Cash Equivalents	3,857.41M	3,612.04M	3,612.04M	3,540.76M	2,157.98M	2,860.61M	2,552.55M	1,958.43M	2,975.51M	1,501.32M	588.44M	960.96M	1,016.56M	1,120.63M	905.40M	844.75M	477.78M	150.84M
Short-Term Investments	0.00M	31.47M	31.47M	96.99M	122.93M	214.50M	275.12M	151.78M	66.43M	2.32M	2.18M	0.00M	8.51M	3.18M	20.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	3,857.41M	3,643.51M	3,643.51M	3,637.76M	2,280.90M	3,075.11M	2,827.67M	2,110.21M	3,041.93M	1,503.64M	590.62M	960.96M	1,025.07M	1,123.81M	925.40M	844.75M	477.78M	150.84M
Net Receivables	3,971.36M	4,988.40M	4,988.40M	3,567.09M	4,672.65M	3,957.90M	3,241.63M	3,413.65M	2,691.52M	3,936.68M	2,807.05M	1,687.21M	1,486.26M	1,237.24M	1,299.07M	1,104.47M	814.53M	200.15M
Inventory	4,803.00M	4,347.57M	4,347.57M	4,473.32M	3,981.98M	3,923.96M	3,425.07M	2,659.85M	2,163.06M	2,308.70M	2,315.83M	2,066.79M	1,722.67M	1,461.63M	1,392.88M	895.92M	626.54M	470.73M
Other Current Assets	5,506.26M	3,703.53M	3,703.53M	2,597.67M	916.87M	1,179.46M	1,366.93M	763.21M	4,184.90M	5,204.11M	3,627.01M	2,168.99M	2,317.47M	1,626.62M	360.08M	1,247.75M	655.65M	7.86M
Total Current Assets	18,138.03M	16,683.01M	16,683.01M	14,275.83M	11,852.40M	12,136.44M	10,861.30M	8,946.92M	12,081.41M	12,953.13M	9,340.51M	6,883.95M	6,551.47M	5,449.29M	3,977.43M	4,092.89M	2,574.49M	829.58M
Property, Plant & Equipment	5,169.49M	5,534.23M	5,534.23M	5,418.76M	5,856.02M	5,550.89M	5,765.59M	5,686.53M	5,132.40M	4,671.84M	4,140.72M	3,783.91M	3,520.29M	3,069.58M	2,407.08M	1,149.71M	613.67M	364.42M
Goodwill	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	49.45M	25.63M	14.96M	14.96M
Intangible Assets	45.48M	66.38M	66.38M	141.91M	147.27M	205.58M	247.19M	288.80M	753.13M	693.87M	293.68M	273.54M	274.95M	204.45M	193.21M	0.00M	0.00M	0.00M
Long-Term Investments	332.36M	266.55M	266.55M	141.26M	-1.57M	-93.98M	-65.32M	115.01M	266.54M	327.93M	177.24M	399.32M	46.82M	9.00M	18.38M	0.00M	0.00M	0.00M
Tax Assets	0.00M	567.57M	567.57M	96.99M	630.18M	579.63M	513.90M	569.02M	477.29M	395.51M	353.03M	266.85M	211.05M	182.37M	123.57M	78.45M	42.10M	22.48M
Other Non-Current Assets	872.61M	28.13M	28.13M	789.61M	249.62M	290.85M	538.15M	397.59M	408.22M	310.48M	146.36M	55.21M	39.67M	84.10M	87.66M	271.34M	96.95M	96.53M
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
Total Non-Current Assets	6,469.38M	6,512.31M	6,512.31M	6,637.98M	6,930.97M	6,582.42M	7,048.95M	7,106.40M	7,087.01M	6,449.08M	5,160.47M	4,828.27M	4,142.23M	3,598.95M	2,879.34M	1,525.13M	767.67M	498.38M
Total Assets	24,607.41M	23,195.32M	23,195.32M	20,913.80M	18,783.37M	18,718.86M	17,910.25M	16,053.32M	19,168.43M	19,402.21M	14,500.98M	11,712.21M	10,693.70M	9,048.24M	6,856.77M	5,618.02M	3,342.16M	1,327.97M
Accounts Payable	2,741.62M	3,204.76M	3,204.76M	3,837.69M	4,069.51M	4,580.77M	4,011.38M	3,774.35M	3,203.10M	3,334.69M	2,728.53M	2,463.79M	1,335.73M	851.23M	1,280.18M	625.60M	353.56M	220.16M
Short-Term Debt	7,831.13M	7,197.84M	7,197.84M	5,208.03M	4,195.52M	4,698.12M	4,907.35M	3,636.54M	3,761.69M	3,193.59M	2,260.31M	1,389.73M	2,719.48M	1,700.64M	1,512.14M	1,094.00M	167.75M	55.00M
Tax Payables	0.00M	0.00M	0.00M	231.43M	426.22M	697.31M	887.54M	509.12M	627.83M	358.44M	144.47M	87.29M	56.86M	66.85M	36.46M	37.52M	33.67M	29.02M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	698.77M	1,399.83M	0.00M	1,117.70M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	3,323.46M	2,696.68M	2,696.68M	3,117.51M	2,432.56M	1,808.78M	1,344.48M	1,843.39M	2,079.65M	1,796.02M	1,417.63M	998.63M	939.51M	862.99M	594.58M	407.83M	79.95M	57.54M
Total Current Liabilities	13,896.21M	13,099.28M	13,099.28M	12,394.65M	11,123.81M	11,784.98M	11,150.75M	9,763.40M	9,672.27M	8,682.73M	7,249.71M	6,339.27M	5,051.57M	4,599.41M	3,423.36M	2,164.96M	634.92M	361.72M
Long-Term Debt	2,569.19M	2,242.78M	2,242.78M	1,504.95M	1,427.05M	1,451.35M	1,383.19M	1,519.42M	2,454.78M	3,066.97M	1,265.46M	1,669.77M	1,111.49M	1,203.73M	799.80M	156.00M	276.00M	156.00M
Capital Lease Obligations	3.87M	7.94M	7.94M	10.75M	13.06M	4.46M	8.58M	15.73M	0.00M	75.00M	175.00M	225.91M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	7.50M	7.50M	9.00M	10.00M	20.88M	14.98M	12.66M	3.53M	1.85M	1.77M	5.61M	11.58M	16.67M	0.57M	8.00M	0.74M	2.15M
Other Non-Current Liabilities	258.11M	0.00M	0.00M	0.00M	0.00M	0.00M	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 Liabilities	2,831.17M	2,258.21M	2,258.21M	1,524.70M	1,450.11M	1,476.69M	1,406.75M	1,547.81M	2,458.31M	3,143.82M	1,442.23M	1,901.29M	1,123.07M	1,220.39M	800.37M	164.00M	276.74M	158.15M
Total Liabilities	16,727.39M	15,357.49M	15,357.49M	13,919.35M	12,573.92M	13,261.67M	12,557.49M	11,311.20M	12,130.57M	11,826.55M	8,691.94M	8,240.56M	6,174.64M	5,819.81M	4,223.72M	2,328.96M	911.66M	519.86M
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
Common Stock	74.70M	74.70M	74.70M	74.70M	74.70M	74.70M	74.70M	74.70M	74.96M	74.96M	74.96M	69.32M	68.14M	68.14M	68.14M	68.14M	68.14M	210.00M
Retained Earnings	0.00M	4,304.58M	4,304.58M	5,393.85M	5,113.51M	4,778.11M	3,337.15M	2,834.41M	3,194.67M	2,873.67M	2,494.19M	1,770.47M	1,483.85M	1,636.32M	0.00M	949.09M	0.00M	0.00M
Accumulated OCI	6,442.64M	0.00M	0.00M	262.21M	297.69M	336.89M	0.00M	358.62M	-1,943.59M	-1,558.71M	316.52M	-917.42M	-652.78M	-411.10M	-240.14M	-144.24M	-94.39M	-63.07M
Minority Interest	1,362.68M	1,279.20M	1,279.20M	1,057.80M	916.16M	782.75M	832.52M	880.80M	926.16M	1,014.83M	848.46M	730.89M	575.06M	519.24M	459.14M	253.66M	82.49M	47.56M
Total Shareholders’ Equity	6,517.35M	4,379.28M	4,379.28M	5,730.77M	5,485.91M	5,189.70M	3,411.86M	3,267.73M	1,326.04M	1,389.92M	2,885.66M	922.37M	899.21M	1,293.37M	-172.00M	872.99M	-26.25M	146.93M
Total Equity	7,880.02M	5,658.48M	5,658.48M	6,788.57M	6,402.07M	5,972.45M	4,244.37M	4,148.53M	2,252.20M	2,404.74M	3,734.12M	1,653.26M	1,474.27M	1,812.61M	287.14M	1,126.65M	56.25M	194.49M
Total Liabilities & Equity	24,607.41M	21,015.97M	21,015.97M	20,707.92M	18,975.99M	19,234.12M	16,801.86M	15,459.74M	14,382.78M	14,231.29M	12,426.06M	9,893.82M	7,648.91M	7,632.41M	4,510.86M	3,455.61M	967.90M	714.35M
Tangible Assets	24,512.48M	23,079.49M	23,079.49M	20,722.44M	18,586.65M	18,463.83M	17,613.62M	15,715.07M	18,365.85M	18,658.89M	14,157.86M	11,389.23M	10,369.31M	8,794.34M	6,614.12M	5,592.39M	3,327.21M	1,313.01M
Tangible Equity	7,785.10M	5,542.65M	5,542.65M	6,597.21M	6,205.35M	5,717.42M	3,947.73M	3,810.28M	1,449.63M	1,661.43M	3,391.00M	1,330.27M	1,149.88M	1,558.71M	44.49M	1,101.02M	41.29M	179.53M
Tangible Book Value	7,785.10M	5,542.65M	5,542.65M	6,597.21M	6,205.35M	5,717.42M	3,947.73M	3,810.28M	1,449.63M	1,661.43M	3,391.00M	1,330.27M	1,149.88M	1,558.71M	44.49M	1,101.02M	41.29M	179.53M
Total Investments	332.36M	298.02M	298.02M	238.25M	121.35M	120.52M	209.80M	266.79M	332.96M	330.25M	179.42M	399.32M	55.34M	12.19M	38.38M	0.00M	0.00M	0.00M
Net Debt	6,542.91M	5,828.59M	5,828.59M	3,172.22M	3,464.59M	3,288.86M	3,737.98M	3,197.53M	3,240.96M	4,759.23M	2,937.33M	2,098.54M	2,814.41M	1,783.74M	1,406.53M	405.25M	-34.02M	60.16M

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
Working Capital	4,238.0M	3,662.8M	3,662.8M	2,301.3M	1,552.3M	1,501.5M	644.5M	130.9M	584.3M	1,582.2M	581.7M	520.0M	-84.3M	590.0M	615.3M	691.4M	981.8M	404.7M
Total Capital	16,921.5M	15,819.4M	15,819.4M	12,862.7M	11,529.8M	11,751.9M	11,491.2M	9,706.9M	10,219.1M	10,008.2M	7,003.7M	5,870.0M	6,037.2M	5,232.5M	4,479.0M	2,997.8M	1,817.2M	891.2M
Capital Employed	10,707.4M	10,175.2M	10,175.2M	8,939.3M	8,483.2M	8,083.9M	7,693.4M	7,237.3M	7,671.4M	8,031.3M	5,742.2M	5,348.3M	4,058.0M	4,189.0M	3,494.7M	2,216.5M	1,749.5M	903.1M
Invested Capital	13,064.1M	12,207.4M	12,207.4M	9,322.0M	9,371.8M	8,891.3M	8,938.7M	7,748.4M	7,243.6M	8,506.8M	6,415.3M	4,909.1M	5,020.7M	4,111.9M	3,573.6M	2,153.0M	1,339.4M	740.3M

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
Net Income	587.82M	887.32M	531.07M	754.82M	818.08M	784.62M	1,065.56M	805.49M	577.71M	635.64M	705.07M	545.87M	73.36M	501.72M	752.47M	710.88M	369.92M	283.70M
Depreciation & Amortization	782.85M	1,762.96M	673.64M	684.28M	743.06M	719.03M	600.97M	585.49M	441.67M	406.31M	353.23M	323.66M	256.97M	205.69M	117.73M	61.99M	42.19M	30.27M
Deferred Income Tax	0.00M	0.00M	0.00M	0.00M	0.00M	-72.44M	-160.96M	47.49M	-150.85M	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	2.33M	28.47M	54.90M	21.25M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-1,151.34M	-2,321.87M	-1,299.84M	-385.34M	-741.48M	-134.24M	-602.80M	-1,026.18M	1,856.95M	-1,164.20M	-2,136.88M	0.93M	-664.21M	-483.45M	-510.58M	-318.49M	-401.68M	-259.21M
Accounts Receivable	-682.77M	-1,674.07M	-411.33M	-281.81M	-637.84M	-1,036.23M	178.71M	-891.42M	1,465.44M	-1,354.31M	-1,907.59M	-443.90M	-268.86M	54.24M	0.00M	0.00M	0.00M	0.00M
Inventory	-396.87M	-767.85M	103.78M	-500.65M	-62.93M	-704.93M	-763.23M	-495.24M	160.43M	73.06M	-255.85M	-346.68M	-262.68M	-68.75M	-421.56M	-237.40M	-158.76M	-221.58M
Accounts Payable	0.00M	0.00M	0.00M	0.00M	637.84M	1,036.23M	-178.71M	891.42M	-1,465.44M	1,354.31M	1,907.59M	443.90M	268.86M	-54.24M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-71.70M	120.05M	-992.29M	397.13M	-678.56M	570.69M	160.44M	-530.94M	1,696.52M	117.06M	26.55M	791.51M	-132.67M	-468.94M	-89.02M	-81.09M	-242.92M	-37.63M
Other Non-Cash Items	886.43M	2,902.23M	309.13M	30.34M	70.93M	196.53M	266.89M	184.30M	245.75M	698.82M	1,133.89M	686.33M	656.14M	512.14M	275.59M	106.19M	-51.77M	-40.83M
Net Cash from Operating Activities	1,105.74M	3,230.64M	214.00M	1,084.11M	890.58M	1,495.84M	1,198.13M	651.49M	2,992.48M	576.57M	55.31M	1,556.80M	322.26M	736.10M	635.21M	560.57M	-41.35M	13.94M
Capital Expenditures (PPE)	-476.91M	-2,085.86M	-661.71M	-642.11M	-1,133.17M	-970.63M	-735.25M	-587.57M	-993.04M	-847.40M	-761.87M	-617.34M	-744.71M	-874.34M	-1,132.84M	-610.13M	-317.68M	-168.13M
Acquisitions (Net)	0.00M	-8.24M	11.97M	16.53M	2.55M	40.49M	-0.85M	-13.21M	-30.03M	-182.98M	-80.90M	-47.55M	-51.86M	-0.49M	-87.05M	-11.24M	0.00M	-40.99M
Purchases of Investments	0.00M	0.00M	-616.87M	-37.00M	-18.25M	-561.37M	-487.53M	-163.05M	-64.11M	-14.69M	-5.78M	-9.68M	-6.85M	-3.39M	-20.00M	-4.00M	0.00M	-157.03M
Sales / Maturities of Investments	0.00M	0.00M	96.95M	206.37M	56.56M	370.41M	646.53M	66.19M	-110.58M	-327.86M	5.76M	22.73M	-54.23M	20.00M	-45.95M	5.63M	0.00M	257.31M
Other Investing Activities	-2,298.20M	1,434.34M	-1,710.72M	220.41M	557.69M	455.26M	-611.33M	806.25M	-49.52M	-314.73M	-18.09M	-201.66M	-142.37M	88.48M	-32.17M	-191.79M	15.80M	123.60M
Net Cash from Investing Activities	-2,775.11M	-659.75M	-2,880.37M	-235.80M	-534.62M	-665.85M	-1,188.42M	108.61M	-1,247.27M	-1,687.67M	-860.88M	-853.50M	-1,000.02M	-769.74M	-1,318.01M	-811.52M	-301.89M	14.76M
Net Debt Issuance	-111.04M	0.00M	2,784.79M	1,090.41M	-526.90M	-19.99M	1,132.24M	-1,374.85M	252.58M	2,598.07M	768.82M	-726.30M	918.38M	578.46M	1,053.44M	772.25M	232.75M	-3.01M
Long-Term Debt Issuance	-111.04M	0.00M	2,784.79M	1,090.41M	-526.90M	-19.99M	1,132.24M	-1,074.85M	-47.42M	2,598.07M	768.82M	-526.30M	1,318.38M	578.46M	1,053.44M	772.25M	-95.00M	-364.03M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-300.00M	300.00M	0.00M	0.00M	-200.00M	-400.00M	0.00M	2,140.85M	1,090.50M	327.75M	361.02M
Net Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-9.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	484.28M	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	0.00M	0.00M	0.00M	0.00M	484.28M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-9.32M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-120.65M	-189.26M	-53.46M	-67.19M	-81.78M	-107.48M	-83.08M	-62.39M	-68.69M	-75.34M	-99.39M	0.00M	-93.49M	-148.78M	-136.72M	-112.92M	-32.50M	-8.00M
Common Dividends Paid	-120.65M	-189.26M	-53.46M	-67.19M	-81.78M	-107.48M	-83.08M	-62.39M	-68.69M	-75.34M	-99.39M	0.00M	-93.49M	-148.78M	-136.72M	-112.92M	-32.50M	-8.00M
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
Other Financing Activities	2,506.96M	-1,620.83M	-494.06M	-488.77M	-449.06M	-394.98M	-463.85M	-333.34M	-452.57M	-495.65M	-236.34M	-31.56M	-251.32M	-180.80M	-173.27M	-41.40M	-14.36M	-43.93M
Net Cash from Financing Activities	2,275.27M	-1,810.09M	2,237.27M	534.45M	-1,057.73M	-522.44M	585.30M	-1,779.89M	-268.68M	2,027.09M	433.10M	-757.87M	573.56M	248.87M	743.45M	617.92M	670.17M	-54.94M
Effect of FX on Cash	0.15M	-3.93M	0.38M	0.03M	-0.87M	0.52M	-0.89M	2.71M	-2.34M	-3.11M	-0.04M	-1.02M	0.13M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Change in Cash	-2,505.98M	756.87M	-428.73M	1,382.79M	-702.64M	308.07M	594.12M	-1,017.08M	1,474.19M	912.88M	-372.52M	-55.60M	-104.08M	215.23M	60.65M	366.97M	326.93M	-26.25M
Cash at Beginning of Period	5,338.53M	9,512.10M	3,540.76M	2,157.98M	2,860.61M	2,552.55M	1,958.43M	2,975.51M	1,501.32M	588.44M	960.96M	1,016.56M	1,120.63M	905.40M	844.75M	477.78M	150.84M	177.09M
Cash at End of Period	5,338.53M	10,268.97M	3,112.04M	3,540.76M	2,157.98M	2,860.61M	2,552.55M	1,958.43M	2,975.51M	1,501.32M	588.44M	960.96M	1,016.56M	1,120.63M	905.40M	844.75M	477.78M	150.84M
Operating Cash Flow	1,105.74M	3,230.64M	214.00M	1,084.11M	890.58M	1,495.84M	1,198.13M	651.49M	2,992.48M	576.57M	55.31M	1,556.80M	322.26M	736.10M	635.21M	560.57M	-41.35M	13.94M
Capital Expenditure	-899.88M	-2,085.86M	-661.71M	-642.11M	-1,133.17M	-970.63M	-735.25M	-587.57M	-993.04M	-847.40M	-761.87M	-617.34M	-744.71M	-874.34M	-1,132.84M	-610.13M	-317.68M	-168.13M
Free Cash Flow	205.87M	1,144.78M	-447.71M	441.99M	-242.59M	525.20M	462.88M	63.92M	1,999.44M	-270.83M	-706.56M	939.46M	-422.45M	-138.24M	-497.63M	-49.56M	-359.03M	-154.19M

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
EBITDA	2,442.22M	3,658.83M	1,196.95M	1,410.23M	1,728.87M	1,745.82M	1,708.89M	1,720.39M	1,243.51M	1,122.00M	1,385.68M	871.46M	453.72M	831.50M	962.04M	826.17M	412.37M	312.96M
(-) Tax Adjustment	598.50M	1,158.21M	239.26M	419.08M	486.55M	555.22M	546.96M	602.14M	430.93M	289.05M	169.04M	92.38M	158.80M	187.57M	169.45M	140.69M	74.45M	63.60M
(-) Change In Working Capital	-1,151.34M	-2,321.87M	-1,299.84M	-385.34M	-741.48M	-134.24M	-602.80M	-1,026.18M	1,856.95M	-1,164.20M	-2,136.88M	0.93M	-664.21M	-483.45M	-510.58M	-318.49M	-401.68M	-259.21M
(-) Capital Expenditure	-899.88M	-2,085.86M	-661.71M	-642.11M	-1,133.17M	-970.63M	-735.25M	-587.57M	-993.04M	-847.40M	-761.87M	-617.34M	-744.71M	-874.34M	-1,132.84M	-610.13M	-317.68M	-168.13M
Unlevered Free Cash Flow	2,095.20M	2,736.64M	1,595.82M	734.38M	850.63M	354.20M	1,029.47M	1,556.86M	-2,037.40M	1,149.74M	2,591.66M	160.80M	214.41M	253.03M	170.33M	393.84M	421.92M	340.44M
(-) Net Interest Income After Taxes	-477.22M	356.02M	-133.95M	-161.24M	-205.66M	-168.89M	-202.36M	-144.21M	-186.61M	-157.68M	-133.70M	-193.26M	-114.15M	-97.85M	-66.11M	-32.16M	-13.66M	-7.63M
Net Debt Issuance	-111.04M	0.00M	2,784.79M	1,090.41M	-526.90M	-19.99M	1,132.24M	-1,374.85M	252.58M	2,598.07M	768.82M	-726.30M	918.38M	578.46M	1,053.44M	772.25M	232.75M	-3.01M
Levered Free Cash Flow	2,461.38M	2,380.62M	4,514.56M	1,986.02M	529.39M	503.10M	2,364.07M	326.23M	-1,598.22M	3,905.50M	3,494.18M	-372.24M	1,246.94M	929.34M	1,289.88M	1,198.25M	668.33M	345.06M