PC Partner Group Limited (1263.HK)

Industry: Computer Hardware Sector: Technology Currency Used: HK Live Price: $5.58

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Stock Price	4.74	3.76	6.03	9.18	1.70	2.12	4.01	2.84	1.54	0.95	1.09	0.97	1.08	1.59	1.59
Market Capitalization	1,837.16M	1,456.36M	2,336.84M	3,531.18M	630.70M	788.84M	1,726.65M	1,262.52M	648.20M	383.84M	536.34M	406.06M	448.10M	525.63M	525.60M
(-) Cash & Equivalents	2,291.02M	2,067.92M	2,602.02M	2,991.33M	925.13M	725.02M	1,047.28M	1,216.78M	764.91M	702.59M	663.37M	632.33M	567.22M	358.70M	228.41M
(+) Total Debt	987.48M	1,074.63M	1,447.29M	872.36M	1,348.23M	1,588.46M	1,864.71M	1,237.55M	815.08M	664.02M	755.93M	769.33M	723.59M	406.86M	311.64M
Enterprise Value	533.62M	463.07M	1,182.11M	1,412.22M	1,053.80M	1,652.28M	2,544.08M	1,283.30M	698.37M	345.27M	628.90M	543.06M	604.47M	573.79M	608.82M

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
Revenue	21,429M	23,561M	10,082M	9,167M	10,775M	15,459M	7,762M	7,556M	9,122M	8,555M	5,838M	4,754M	4,895M	4,803M	5,176M	5,969M	5,585M
Cost of Revenue	19,427M	19,251M	9,126M	8,466M	9,212M	11,172M	6,966M	7,040M	8,165M	7,639M	5,247M	4,339M	4,416M	4,325M	4,715M	5,492M	5,125M
Gross Profit	2,002M	4,310M	955M	701M	1,563M	4,287M	795M	516M	957M	916M	591M	415M	479M	478M	461M	478M	461M
Gross Profit Margin	9.3%	18.3%	9.5%	7.6%	14.5%	27.7%	10.2%	6.8%	10.5%	10.7%	10.1%	8.7%	9.8%	10.0%	8.9%	8.0%	8.2%
R&D Expenses	132M	137M	64M	75M	64M	58M	58M	38M	57M	52M	45M	42M	39M	30M	0M	0M	0M
SG&A Expenses	1,376M	1,360M	662M	581M	645M	1,266M	631M	464M	578M	538M	403M	391M	395M	392M	398M	389M	354M
Operating Expenses	1,465M	1,476M	662M	579M	645M	1,324M	631M	470M	594M	536M	422M	424M	406M	385M	398M	385M	348M
Operating Income (EBIT)	537M	2,833M	294M	122M	918M	2,963M	165M	47M	364M	380M	169M	-8M	73M	94M	63M	92M	113M
Operating Income Margin	2.5%	12.0%	2.9%	1.3%	8.5%	19.2%	2.1%	0.6%	4.0%	4.4%	2.9%	-0.2%	1.5%	2.0%	1.2%	1.5%	2.0%
Interest Income	115M	33M	64M	50M	10M	9M	15M	5M	3M	3M	3M	3M	3M	3M	3M	1M	0M
Interest Expense	77M	77M	37M	59M	33M	20M	30M	53M	50M	24M	14M	11M	11M	11M	14M	11M	12M
Net Interest Income	38M	-43M	27M	-9M	-22M	-11M	-15M	-48M	-47M	-21M	-11M	-8M	-8M	-8M	-11M	-11M	-12M
Unusual Items	101M	76M	-9M	-25M	-53M	-22M	98M	-15M	0M	0M	0M	0M	0M	0M	12M	0M	32M
EBT Excluding Unusual Items	575M	2,790M	321M	113M	896M	2,952M	150M	-2M	317M	359M	158M	-16M	65M	86M	51M	82M	101M
Pre-Tax Income	675M	2,867M	312M	88M	843M	2,930M	248M	-16M	317M	359M	158M	-16M	65M	86M	64M	82M	133M
Pre-Tax Margin	3.2%	12.2%	3.1%	1.0%	7.8%	19.0%	3.2%	-0.2%	3.5%	4.2%	2.7%	-0.3%	1.3%	1.8%	1.2%	1.4%	2.4%
Income Tax Expense	121M	464M	51M	28M	141M	554M	40M	-9M	47M	27M	8M	2M	14M	13M	11M	9M	16M
Net Income	553M	2,165M	262M	61M	702M	2,374M	207M	10M	271M	332M	150M	-18M	51M	73M	52M	70M	110M
Net Income Margin	2.6%	9.2%	2.6%	0.7%	6.5%	15.4%	2.7%	0.1%	3.0%	3.9%	2.6%	-0.4%	1.0%	1.5%	1.0%	1.2%	2.0%
Depreciation & Amortization	165M	159M	103M	106M	68M	89M	111M	63M	21M	16M	16M	25M	33M	37M	37M	42M	46M
EBITDA	701M	2,992M	397M	229M	986M	3,052M	276M	109M	385M	396M	185M	16M	106M	131M	99M	134M	159M
EBITDA Margin	3.3%	12.7%	3.9%	2.5%	9.2%	19.7%	3.6%	1.4%	4.2%	4.6%	3.2%	0.3%	2.2%	2.7%	1.9%	2.2%	2.8%
NOPAT	440M	2,375M	246M	83M	764M	2,403M	138M	37M	310M	352M	161M	-7M	58M	80M	51M	82M	100M
NOPAT Margin	2.1%	10.1%	2.4%	0.9%	7.1%	15.5%	1.8%	0.5%	3.4%	4.1%	2.7%	-0.1%	1.2%	1.7%	1.0%	1.4%	1.8%
Owner's Earnings	537M	1,687M	218M	121M	226M	2,397M	309M	58M	245M	329M	143M	-26M	73M	100M	72M	68M	111M
Owner's Earnings Margin	2.5%	7.2%	2.2%	1.3%	2.1%	15.5%	4.0%	0.8%	2.7%	3.8%	2.4%	-0.6%	1.5%	2.1%	1.4%	1.1%	2.0%
EPS (Basic)	1.44	5.58	0.68	0.16	1.81	6.21	0.56	0.03	0.66	0.76	0.36	-0.04	0.12	0.18	0.13	0.21	0.33
EPS (Diluted)	1.43	5.58	0.68	0.16	1.81	6.14	0.56	0.03	0.66	0.75	0.36	-0.04	0.12	0.18	0.13	0.21	0.33
Shares (Basic)	388M	388M	388M	388M	388M	382M	372M	372M	409M	437M	419M	418M	418M	418M	415M	331M	331M
Shares (Diluted)	388M	388M	388M	388M	388M	387M	372M	372M	410M	444M	419M	418M	418M	418M	415M	331M	331M

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
Cash & Cash Equivalents	2,136.69M	2,333.69M	2,333.69M	2,490.88M	2,206.99M	3,764.77M	1,124.59M	906.88M	813.50M	1,453.82M	790.29M	789.78M	709.08M	688.97M	602.59M	717.40M	685.24M
Short-Term Investments	5.95M	0.00M	0.00M	0.00M	0.34M	0.34M	0.00M	0.00M	21.61M	24.71M	15.10M	13.15M	15.73M	31.28M	0.00M	2.11M	2.73M
Cash & Short-Term Investments	2,142.64M	2,333.69M	2,333.69M	2,490.88M	2,207.32M	3,765.10M	1,124.59M	906.88M	835.11M	1,478.53M	805.39M	802.93M	724.81M	720.25M	602.59M	719.50M	687.97M
Net Receivables	1,271.70M	804.26M	804.26M	814.63M	1,184.71M	1,241.64M	1,197.58M	1,170.04M	890.71M	1,159.59M	732.70M	622.23M	715.00M	823.57M	0.00M	874.94M	921.55M
Inventory	1,608.43M	842.33M	842.33M	1,135.49M	1,831.96M	1,511.58M	908.26M	1,126.02M	2,497.52M	1,349.46M	1,281.47M	802.21M	889.80M	854.31M	697.92M	799.50M	943.86M
Other Current Assets	83.70M	208.61M	208.61M	126.83M	134.32M	136.55M	73.75M	32.12M	42.02M	3.71M	8.48M	6.07M	17.28M	8.23M	839.83M	882.63M	22.71M
Total Current Assets	5,106.47M	4,188.89M	4,188.89M	4,567.83M	5,358.31M	6,654.87M	3,304.19M	3,235.06M	4,265.36M	3,991.28M	2,828.04M	2,233.44M	2,346.89M	2,406.37M	2,140.35M	3,276.58M	2,576.09M
Property, Plant & Equipment	709.91M	746.17M	746.17M	649.93M	718.14M	208.40M	280.63M	371.59M	84.31M	58.73M	55.32M	49.19M	41.16M	63.85M	90.36M	97.26M	93.51M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.53M	1.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	7.90M	4.83M	4.83M	4.83M	4.83M	4.83M	4.83M	6.36M	4.83M	5.92M	6.13M	6.42M	6.70M	7.27M	7.99M	8.36M	10.08M
Long-Term Investments	1.27M	1.27M	1.27M	6.93M	6.65M	46.74M	387.31M	367.12M	10.89M	36.61M	20.99M	20.99M	20.99M	20.99M	20.68M	0.00M	0.00M
Tax Assets	8.07M	7.61M	7.61M	5.79M	4.00M	9.64M	10.43M	25.94M	6.66M	6.45M	2.41M	1.45M	1.73M	1.79M	1.76M	1.86M	1.28M
Other Non-Current Assets	16.07M	16.43M	16.43M	0.00M	0.00M	0.00M	0.00M	-1.53M	-6.66M	-6.45M	-2.41M	-1.45M	-1.73M	-1.79M	0.31M	20.99M	20.99M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	6.66M	6.45M	2.41M	1.45M	1.73M	1.79M	0.00M	0.00M	0.00M
Total Non-Current Assets	743.22M	776.31M	776.31M	667.47M	733.62M	269.60M	683.20M	771.00M	108.22M	107.70M	84.85M	78.05M	70.58M	93.90M	121.11M	128.47M	125.87M
Total Assets	5,849.69M	4,965.20M	4,965.20M	5,235.30M	6,091.92M	6,924.46M	3,987.38M	4,006.06M	4,373.57M	4,098.98M	2,912.89M	2,311.48M	2,417.47M	2,500.26M	2,261.45M	3,405.04M	2,701.96M
Accounts Payable	1,235.23M	816.15M	816.15M	1,046.87M	965.38M	1,602.68M	1,279.52M	1,311.20M	1,403.84M	1,057.75M	828.14M	589.24M	680.82M	693.42M	553.22M	939.09M	1,182.72M
Short-Term Debt	1,100.53M	819.53M	819.53M	982.43M	1,738.73M	702.34M	1,070.04M	1,475.41M	1,709.65M	1,350.96M	987.56M	800.41M	703.87M	823.11M	821.54M	813.64M	934.89M
Tax Payables	0.00M	49.49M	49.49M	8.55M	6.57M	513.04M	17.21M	7.33M	10.76M	23.36M	9.62M	2.70M	16.48M	8.45M	6.15M	3.54M	7.40M
Deferred Revenue	0.00M	0.00M	0.00M	60.96M	76.52M	209.56M	76.15M	31.63M	41.82M	-1,350.97M	-987.57M	-800.42M	-703.88M	-823.13M	0.00M	0.00M	0.00M
Other Current Liabilities	295.47M	388.02M	388.02M	331.69M	478.69M	1,407.83M	315.96M	172.85M	323.19M	458.79M	145.24M	135.81M	179.76M	185.60M	166.60M	215.08M	11.38M
Total Current Liabilities	2,631.22M	2,073.19M	2,073.19M	2,430.48M	3,265.90M	4,435.45M	2,758.87M	2,998.42M	3,489.25M	1,539.88M	982.99M	727.74M	877.05M	887.45M	1,547.51M	1,971.34M	2,136.39M
Long-Term Debt	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	100.86M	110.98M	110.98M	99.21M	97.19M	95.22M	114.28M	132.38M	0.05M	0.07M	0.04M	0.05M	0.03M	0.04M	0.06M	0.08M	0.01M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.04M	0.06M	0.00M	0.08M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	6.19M	5.87M	5.87M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	3.83M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	107.05M	116.85M	116.85M	99.21M	97.19M	95.22M	114.28M	132.38M	0.05M	0.07M	0.08M	0.11M	3.86M	0.12M	0.06M	0.08M	0.01M
Total Liabilities	2,738.27M	2,190.04M	2,190.04M	2,529.70M	3,363.09M	4,530.68M	2,873.15M	3,130.79M	3,489.30M	1,539.95M	983.07M	727.85M	880.91M	887.57M	1,547.57M	1,971.42M	2,136.40M
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
Common Stock	38.79M	38.79M	38.79M	38.79M	38.77M	38.74M	37.21M	37.21M	37.21M	44.48M	42.94M	41.75M	41.75M	41.75M	41.75M	33.05M	30.32M
Retained Earnings	2,824.67M	2,628.56M	2,628.56M	2,525.52M	2,603.58M	2,835.41M	867.70M	661.20M	650.91M	969.91M	717.19M	574.39M	610.81M	575.67M	524.36M	0.00M	0.00M
Accumulated OCI	0.47M	-3.30M	-3.30M	10.49M	8.84M	16.27M	33.15M	16.36M	21.24M	27.63M	27.28M	38.30M	43.94M	44.89M	-384.40M	-352.65M	-313.69M
Minority Interest	1.91M	-0.08M	-0.08M	1.38M	2.34M	2.93M	0.69M	-0.07M	0.04M	-0.11M	-0.18M	-0.05M	0.00M	0.00M	0.00M	0.00M	22.05M
Total Shareholders’ Equity	2,863.93M	2,664.05M	2,664.05M	2,574.80M	2,651.19M	2,890.42M	938.06M	714.76M	709.35M	1,042.02M	787.41M	654.44M	696.49M	662.31M	181.71M	-319.59M	-283.38M
Total Equity	2,865.84M	2,663.97M	2,663.97M	2,576.18M	2,653.53M	2,893.35M	938.75M	714.69M	709.39M	1,041.91M	787.23M	654.39M	696.49M	662.31M	181.71M	-319.59M	-261.33M
Total Liabilities & Equity	5,604.11M	4,854.01M	4,854.01M	5,105.88M	6,016.62M	7,424.03M	3,811.90M	3,845.48M	4,198.69M	2,581.86M	1,770.30M	1,382.25M	1,577.40M	1,549.89M	1,729.28M	1,651.82M	1,875.07M
Tangible Assets	5,841.79M	4,960.37M	4,960.37M	5,230.48M	6,087.10M	6,919.64M	3,982.56M	3,998.18M	4,367.22M	4,093.06M	2,906.76M	2,305.07M	2,410.77M	2,492.99M	2,253.46M	3,396.69M	2,691.87M
Tangible Equity	2,857.94M	2,659.15M	2,659.15M	2,571.35M	2,648.70M	2,888.52M	933.92M	706.81M	703.03M	1,035.99M	781.10M	647.98M	689.79M	655.04M	173.72M	-327.95M	-271.41M
Tangible Book Value	2,857.94M	2,659.15M	2,659.15M	2,571.35M	2,648.70M	2,888.52M	933.92M	706.81M	703.03M	1,035.99M	781.10M	647.98M	689.79M	655.04M	173.72M	-327.95M	-271.41M
Total Investments	7.22M	1.27M	1.27M	6.93M	6.99M	47.07M	387.31M	367.12M	32.50M	61.33M	36.10M	34.14M	36.72M	52.27M	20.68M	2.11M	2.73M
Net Debt	-1,036.16M	-1,514.16M	-1,514.16M	-1,508.46M	-468.25M	-3,062.43M	-54.55M	568.53M	896.15M	-102.86M	197.27M	10.62M	-5.21M	134.14M	218.95M	96.24M	249.65M

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
Working Capital	2,388.0M	2,165.0M	2,165.0M	2,175.8M	2,214.7M	2,916.0M	534.9M	241.1M	769.2M	1,100.4M	848.4M	699.6M	749.1M	687.9M	606.9M	448.7M	444.5M
Total Capital	4,263.4M	3,792.6M	3,792.6M	3,854.5M	4,715.6M	3,911.0M	2,315.1M	2,513.5M	2,587.0M	2,559.2M	1,921.0M	1,578.1M	1,519.7M	1,604.8M	1,549.6M	1,390.8M	1,483.2M
Capital Employed	3,131.2M	2,941.3M	2,941.3M	2,843.3M	2,948.3M	3,185.6M	1,218.1M	1,012.1M	877.4M	1,208.1M	933.3M	777.7M	819.7M	781.8M	728.0M	577.1M	570.4M
Invested Capital	2,126.7M	1,458.9M	1,458.9M	1,363.6M	2,508.6M	146.3M	1,190.5M	1,606.6M	1,773.5M	1,105.4M	1,130.7M	788.3M	810.6M	915.8M	947.0M	673.4M	798.0M

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
Net Income	553.23M	2,164.75M	262.13M	60.84M	702.48M	2,374.32M	207.28M	10.27M	270.84M	332.29M	150.19M	-18.46M	51.35M	73.15M	63.56M	81.90M	133.11M
Depreciation & Amortization	221.03M	158.69M	102.85M	106.46M	67.94M	88.67M	111.42M	62.74M	21.37M	15.82M	16.36M	24.88M	32.64M	36.65M	36.55M	41.69M	45.99M
Deferred Income Tax	0.00M	738.75M	0.00M	0.00M	0.00M	3,221.84M	3,955.36M	0.00M	0.00M	543.12M	596.45M	0.00M	-99.80M	171.11M	-11.64M	-30.13M	0.00M
Stock-Based Compensation	0.00M	4.34M	0.00M	0.00M	0.00M	4.34M	4.87M	0.00M	0.00M	2.76M	3.06M	0.00M	0.12M	3.35M	11.89M	0.59M	0.00M
Change in Working Capital	-35.06M	-1,135.03M	1,650.23M	3,409.76M	2,393.84M	3,532.73M	4,206.93M	4,709.37M	-960.05M	-545.88M	-599.51M	166.97M	99.68M	-174.46M	-264.43M	35.13M	-54.02M
Accounts Receivable	-173.50M	-131.99M	-86.69M	380.64M	73.53M	-205.58M	-23.88M	-497.76M	271.73M	-447.06M	-112.13M	94.44M	126.67M	-4.08M	0.00M	0.00M	0.00M
Inventory	184.61M	-980.19M	313.16M	654.77M	-371.32M	-608.88M	192.22M	1,092.34M	-1,231.79M	-98.82M	-487.38M	72.53M	-26.99M	-170.39M	90.00M	147.64M	-216.58M
Accounts Payable	0.00M	0.00M	1,451.37M	2,409.63M	2,845.22M	4,217.97M	4,014.72M	4,133.18M	235.44M	526.61M	242.10M	-132.59M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	-46.17M	-22.85M	-27.61M	-35.29M	-153.59M	129.22M	23.86M	-18.40M	-235.44M	-526.61M	-242.10M	132.59M	-110.34M	20.70M	-354.43M	-112.52M	162.55M
Other Non-Cash Items	3,466.76M	6,452.17M	-60.38M	2.77M	-480.76M	-2,289.79M	-3,891.16M	-25.01M	8,735.20M	950.73M	449.42M	-20.84M	-136.61M	190.26M	11.17M	10.54M	-64.72M
Net Cash from Operating Activities	4,205.97M	8,458.24M	1,954.84M	3,579.82M	2,683.50M	6,932.10M	4,594.70M	4,757.36M	8,067.35M	755.73M	19.53M	152.55M	47.17M	128.94M	-152.90M	139.72M	60.36M
Capital Expenditures (PPE)	-180.79M	-636.13M	-147.22M	-46.55M	-544.62M	-66.45M	-9.32M	-14.63M	-46.83M	-18.75M	-23.95M	-32.68M	-10.59M	-9.87M	-17.14M	-44.27M	-44.87M
Acquisitions (Net)	0.29M	126.69M	0.00M	0.00M	0.39M	126.27M	0.16M	0.33M	0.99M	0.69M	1.53M	0.29M	0.00M	0.00M	-1.59M	-1.32M	-13.50M
Purchases of Investments	-829.66M	-323.34M	-514.69M	-665.65M	-10.91M	-136.30M	-16.31M	-18.15M	-27.75M	-15.62M	-7.10M	-12.50M	-1.38M	0.00M	2.68M	0.00M	0.00M
Sales / Maturities of Investments	665.26M	0.58M	748.92M	274.91M	0.06M	0.77M	0.87M	0.95M	26.76M	0.33M	5.57M	12.21M	0.00M	5.15M	2.05M	0.00M	0.00M
Other Investing Activities	199.85M	-32.88M	63.04M	50.27M	10.91M	136.30M	16.31M	0.00M	30.50M	2.45M	3.19M	3.03M	13.39M	3.32M	6.82M	1.90M	34.13M
Net Cash from Investing Activities	-145.05M	-704.11M	150.05M	-387.03M	-544.17M	60.59M	-8.28M	-31.50M	-16.33M	-30.90M	-26.32M	-41.85M	1.42M	-1.40M	-7.18M	-43.70M	-24.25M
Net Debt Issuance	-2,134.58M	-30.26M	-1,820.68M	-3,126.94M	-2,694.69M	-3,942.15M	-4,350.23M	-4,601.07M	-8,088.29M	-0.02M	4.39M	-0.02M	-0.02M	-18.34M	-41.50M	-28.73M	1.12M
Long-Term Debt Issuance	-37.05M	-30.26M	-33.20M	0.00M	193.93M	-28.89M	-4,350.23M	-25.68M	-0.02M	-0.02M	4.39M	-0.02M	-0.02M	-0.02M	-0.02M	-0.01M	1.12M
Short-Term Debt Issuance	-2,097.53M	0.00M	-1,787.48M	-3,126.94M	-2,888.62M	-3,942.15M	0.00M	-4,575.39M	358.69M	0.00M	4.39M	0.00M	0.00M	-18.32M	-41.50M	-28.73M	0.00M
Net Stock Issuance	0.00M	1.82M	0.00M	0.32M	0.48M	24.62M	0.00M	0.00M	-373.19M	16.84M	17.34M	0.00M	0.00M	0.00M	128.03M	0.00M	0.00M
Common Stock Issuance	0.00M	1.82M	0.00M	0.32M	0.48M	24.62M	0.00M	0.00M	2.13M	16.84M	17.34M	0.00M	0.00M	0.00M	128.03M	0.00M	0.00M
Common Stock Repurchased	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-375.31M	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
Net Dividends Paid	-349.10M	-1,344.59M	-155.15M	-135.76M	-934.32M	-410.27M	0.00M	0.00M	-227.26M	-80.72M	-14.61M	-18.79M	-16.70M	-22.96M	-41.75M	-35.21M	-31.30M
Common Dividends Paid	-349.10M	-1,344.59M	-155.15M	-135.76M	-934.32M	-410.27M	0.00M	0.00M	-227.26M	-80.72M	-14.61M	-18.79M	-16.70M	-22.96M	-41.75M	-35.21M	-31.30M
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
Other Financing Activities	-1,649.95M	-6,516.04M	-33.20M	-31.43M	-30.50M	-28.89M	-27.10M	-25.68M	0.68M	-0.86M	-0.02M	-9.89M	-11.12M	-0.02M	-0.02M	-0.01M	-2.01M
Net Cash from Financing Activities	-4,133.62M	-7,889.07M	-2,009.03M	-3,293.80M	-3,659.02M	-4,356.68M	-4,377.33M	-4,626.75M	-8,688.06M	-64.76M	7.10M	-28.69M	-27.83M	-41.32M	44.76M	-63.95M	-32.19M
Effect of FX on Cash	16.30M	-49.78M	-18.85M	-5.60M	-38.09M	4.62M	8.62M	-5.73M	-3.28M	3.45M	-0.24M	-1.30M	-0.65M	0.16M	0.51M	0.09M	0.04M
Net Change in Cash	2,120.99M	-182.76M	77.01M	-106.61M	-1,557.78M	2,640.17M	217.71M	93.39M	-640.32M	663.52M	0.06M	80.70M	20.11M	86.38M	-114.81M	32.16M	3.97M
Cash at Beginning of Period	6,020.02M	11,186.70M	2,100.38M	2,206.99M	3,764.77M	1,124.59M	906.88M	813.50M	1,453.36M	789.84M	789.78M	709.08M	688.97M	602.59M	717.40M	685.24M	681.27M
Cash at End of Period	8,141.01M	11,003.94M	2,177.39M	2,100.38M	2,206.99M	3,764.77M	1,124.59M	906.88M	813.05M	1,453.36M	789.84M	789.78M	709.08M	688.97M	602.59M	717.40M	685.24M
Operating Cash Flow	4,091.82M	8,458.24M	1,954.84M	3,579.82M	2,683.50M	6,932.10M	4,594.70M	4,757.36M	8,067.35M	755.73M	19.53M	152.55M	47.17M	128.94M	-152.90M	139.72M	60.36M
Capital Expenditure	-180.79M	-636.13M	-147.22M	-46.55M	-544.62M	-66.45M	-9.32M	-14.63M	-46.83M	-18.75M	-23.95M	-32.68M	-10.59M	-9.87M	-17.14M	-44.27M	-44.87M
Free Cash Flow	3,911.11M	7,822.11M	1,807.62M	3,533.27M	2,138.88M	6,865.65M	4,585.39M	4,742.73M	8,020.52M	736.98M	-4.42M	119.87M	36.58M	119.07M	-170.04M	95.44M	15.49M

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
EBITDA	659.33M	2,971.60M	332.87M	151.28M	921.80M	3,051.64M	218.15M	76.70M	343.91M	341.97M	159.09M	7.27M	77.72M	92.99M	99.08M	130.66M	152.86M
(-) Tax Adjustment	118.63M	481.07M	54.35M	48.48M	154.48M	576.52M	34.95M	26.85M	50.88M	25.63M	7.68M	0.00M	16.28M	13.86M	17.62M	14.71M	18.07M
(-) Change In Working Capital	-35.06M	-1,135.03M	1,650.23M	3,409.76M	2,393.84M	3,532.73M	4,206.93M	4,709.37M	-960.05M	-545.88M	-599.51M	166.97M	99.68M	-174.46M	-264.43M	35.13M	-54.02M
(-) Capital Expenditure	-180.79M	-636.13M	-147.22M	-46.55M	-544.62M	-66.45M	-9.32M	-14.63M	-46.83M	-18.75M	-23.95M	-32.68M	-10.59M	-9.87M	-17.14M	-44.27M	-44.87M
Unlevered Free Cash Flow	394.97M	2,989.43M	-1,518.93M	-3,353.52M	-2,171.14M	-1,124.07M	-4,033.04M	-4,674.14M	1,206.25M	843.47M	726.97M	-192.39M	-48.83M	243.73M	328.76M	36.54M	143.94M
(-) Net Interest Income After Taxes	30.93M	-36.05M	22.61M	-6.17M	-18.39M	-8.87M	-12.52M	-31.24M	-39.88M	-19.71M	-10.45M	-7.70M	-6.37M	-6.75M	-9.19M	-9.35M	-10.23M
Net Debt Issuance	-2,134.58M	-30.26M	-1,820.68M	-3,126.94M	-2,694.69M	-3,942.15M	-4,350.23M	-4,601.07M	-8,088.29M	-0.02M	4.39M	-0.02M	-0.02M	-18.34M	-41.50M	-28.73M	1.12M
Levered Free Cash Flow	-1,770.54M	2,995.21M	-3,362.22M	-6,474.28M	-4,847.44M	-5,057.34M	-8,370.75M	-9,243.97M	-6,842.15M	863.17M	741.81M	-184.71M	-42.48M	232.14M	296.44M	17.17M	155.29M