Guangzhou Rural Commercial Bank Co., Ltd. (1551.HK)

Industry: Banks - Regional Sector: Financial Services Currency Used: CN Live Price: $1.51

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Stock Price	1.53	2.08	2.42	2.69	3.02	3.56	4.46	4.77	4.47	4.18	4.09	4.02
Market Capitalization	40,027.04M	23,802.32M	27,712.76M	26,476.52M	29,633.93M	34,905.66M	43,692.24M	43,252.92M	36,478.93M	40,103.47M	39,186.85M	38,503.06M
(-) Cash & Equivalents	91,347.09M	41,137.96M	43,082.18M	49,017.62M	48,639.41M	52,208.40M	38,895.41M	39,238.54M	52,657.30M	66,660.06M	60,901.22M	9,609.08M
(+) Total Debt	101,519.67M	139,751.05M	146,980.07M	107,744.25M	90,700.85M	102,362.64M	90,893.28M	122,231.99M	50,985.19M	13,228.99M	6,261.23M	1,775.68M
Enterprise Value	50,199.62M	122,415.41M	131,610.64M	85,203.15M	71,695.38M	85,059.90M	95,690.10M	126,246.37M	34,806.82M	-13,327.60M	-15,453.14M	30,669.66M

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
Revenue	18,406M	22,859M	8,063M	42,914M	11,919M	10,940M	13,290M	16,493M	14,837M	12,691M	15,240M	16,215M	13,961M	11,157M
Cost of Revenue	0M	0M	24,345M	25,162M	25,236M	23,007M	0M	0M	0M	0M	0M	0M	0M	0M
Gross Profit	18,406M	22,859M	-16,282M	17,752M	-13,318M	-12,066M	13,290M	16,493M	14,837M	12,691M	15,240M	16,215M	13,961M	11,157M
Gross Profit Margin	100.0%	100.0%	-201.9%	41.4%	-111.7%	-110.3%	100.0%	100.0%	100.0%	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
SG&A Expenses	4,877M	11,134M	4,902M	274M	310M	318M	5,411M	5,209M	4,746M	4,002M	1,256M	1,099M	939M	3,852M
Operating Expenses	11,436M	13,891M	4,902M	5,212M	7,408M	6,483M	5,411M	6,597M	6,123M	5,164M	5,457M	5,773M	5,282M	4,655M
Operating Income (EBIT)	6,969M	8,968M	-21,185M	12,540M	-20,726M	-18,550M	7,880M	9,895M	8,713M	7,527M	9,783M	10,442M	8,679M	6,502M
Operating Income Margin	37.9%	39.2%	-262.7%	29.2%	-173.9%	-169.6%	59.3%	60.0%	58.7%	59.3%	64.2%	64.4%	62.2%	58.3%
Interest Income	0M	0M	37,960M	41,746M	43,818M	42,566M	37,150M	35,745M	29,446M	29,186M	23,386M	24,087M	23,360M	0M
Interest Expense	0M	0M	24,345M	25,162M	25,236M	23,007M	19,503M	17,182M	16,174M	17,492M	12,715M	12,491M	11,354M	0M
Net Interest Income	0M	0M	13,615M	16,583M	18,582M	19,559M	17,647M	18,564M	13,272M	11,695M	10,671M	11,596M	12,006M	0M
Unusual Items	-1,431M	0M	9,044M	-26,210M	6,654M	3,448M	-19,239M	-18,564M	-13,272M	-11,695M	-13,931M	-15,608M	-13,630M	0M
EBT Excluding Unusual Items	6,969M	8,968M	-7,570M	29,123M	-2,144M	1,010M	25,527M	28,459M	21,985M	19,221M	20,454M	22,037M	20,685M	6,502M
Pre-Tax Income	5,538M	8,968M	1,474M	2,913M	4,510M	4,457M	6,288M	9,895M	8,713M	7,527M	6,523M	6,429M	7,055M	6,502M
Pre-Tax Margin	30.1%	39.2%	18.3%	6.8%	37.8%	40.7%	47.3%	60.0%	58.7%	59.3%	42.8%	39.6%	50.5%	58.3%
Income Tax Expense	239M	1,386M	-941M	-347M	473M	681M	1,011M	1,984M	1,881M	1,636M	1,417M	1,429M	1,573M	1,556M
Net Income	4,838M	5,441M	2,081M	2,634M	3,492M	3,175M	5,081M	7,520M	6,526M	5,709M	5,026M	5,001M	5,375M	4,828M
Net Income Margin	26.3%	23.8%	25.8%	6.1%	29.3%	29.0%	38.2%	45.6%	44.0%	45.0%	33.0%	30.8%	38.5%	43.3%
Depreciation & Amortization	-2,913M	-8,968M	605M	681M	723M	885M	895M	926M	586M	536M	535M	527M	492M	-6,401M
EBITDA	4,056M	0M	-20,580M	13,220M	-20,003M	-17,664M	8,775M	10,821M	9,300M	8,063M	10,318M	10,968M	9,170M	100M
EBITDA Margin	22.0%	0.0%	-255.2%	30.8%	-167.8%	-161.5%	66.0%	65.6%	62.7%	63.5%	67.7%	67.6%	65.7%	0.9%
NOPAT	6,668M	7,582M	-34,705M	14,032M	-18,554M	-15,715M	6,613M	7,911M	6,832M	5,891M	7,659M	8,121M	6,743M	4,946M
NOPAT Margin	36.2%	33.2%	-430.4%	32.7%	-155.7%	-143.6%	49.8%	48.0%	46.0%	46.4%	50.3%	50.1%	48.3%	44.3%
Owner's Earnings	653M	-4,731M	1,819M	2,814M	3,462M	3,610M	5,505M	8,006M	4,825M	5,745M	5,164M	5,110M	5,476M	-1,930M
Owner's Earnings Margin	3.5%	-20.7%	22.6%	6.6%	29.0%	33.0%	41.4%	48.5%	32.5%	45.3%	33.9%	31.5%	39.2%	-17.3%
EPS (Basic)	0.30	0.52	0.10	0.17	0.25	0.26	0.45	0.77	0.67	0.63	0.52	0.52	0.56	0.59
EPS (Diluted)	0.37	0.51	0.14	0.23	0.30	0.32	0.52	0.77	0.67	0.63	0.52	0.52	0.56	0.59
Shares (Basic)	17,064M	10,655M	11,476M	11,476M	11,451M	9,859M	9,808M	9,808M	9,808M	9,024M	9,592M	9,592M	9,592M	8,183M
Shares (Diluted)	12,943M	10,655M	14,410M	11,476M	11,451M	9,859M	9,808M	9,808M	9,808M	9,024M	9,592M	9,592M	9,592M	8,183M

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
Cash & Cash Equivalents	33,706.41M	35,606.90M	35,606.90M	44,902.52M	42,291.33M	51,119.47M	54,142.31M	58,286.40M	49,905.63M	43,646.53M	105,314.61M	133,320.12M	121,802.45M	19,218.17M
Short-Term Investments	-33,706.41M	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
Cash & Short-Term Investments	0.00M	35,606.90M	35,606.90M	44,902.52M	42,291.33M	51,119.47M	54,142.31M	58,286.40M	49,905.63M	43,646.53M	105,314.61M	133,320.12M	121,802.45M	19,218.17M
Net Receivables	0.00M	119,009.76M	119,009.76M	129,661.60M	87,587.15M	93,912.97M	50,376.35M	1,782.77M	8,438.37M	0.00M	81,340.83M	51,061.26M	43,235.80M	0.00M
Inventory	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 Current Assets	0.00M	-119,009.76M	-119,009.76M	-129,661.60M	-87,587.15M	-93,912.97M	-50,376.35M	-2,303.07M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	0.00M	35,606.90M	35,606.90M	44,902.52M	42,291.33M	51,119.47M	54,142.31M	57,766.10M	58,344.00M	43,646.53M	186,655.44M	184,381.38M	165,038.24M	19,218.17M
Property, Plant & Equipment	4,731.30M	4,867.55M	4,867.55M	4,551.91M	4,652.41M	4,621.93M	4,884.48M	4,832.72M	2,381.74M	2,012.50M	2,047.92M	2,122.02M	2,253.79M	2,174.47M
Goodwill	734.24M	734.24M	734.24M	734.24M	734.24M	734.24M	734.24M	734.24M	258.06M	382.22M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	419.54M	440.72M	440.72M	353.34M	284.12M	200.17M	185.68M	166.72M	1,119.57M	389.44M	115.90M	111.66M	81.43M	61.56M
Long-Term Investments	0.00M	587,490.80M	587,490.80M	410,896.51M	349,437.11M	314,238.52M	262,524.19M	237,674.38M	227,853.13M	144,049.73M	150,040.90M	142,367.32M	55,480.07M	0.00M
Tax Assets	0.00M	0.00M	0.00M	0.00M	-343,766.34M	-308,682.19M	-256,719.79M	-231,940.70M	-224,093.77M	-141,265.57M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	1,400,820.89M	733,267.72M	733,267.72M	1,263,500.44M	-5,670.76M	-5,556.33M	-5,804.40M	-5,733.68M	-3,759.36M	-2,784.16M	-152,204.72M	-144,600.99M	-57,815.29M	358,033.91M
Other Assets	0.00M	0.00M	0.00M	-410,896.51M	1,185,492.36M	1,104,952.83M	967,924.94M	830,134.22M	709,624.61M	689,282.97M	322,090.97M	253,824.83M	243,754.09M	0.00M
Total Non-Current Assets	1,406,705.96M	1,326,801.02M	1,326,801.02M	1,269,139.93M	1,191,163.12M	1,110,509.16M	973,729.34M	835,867.89M	713,383.97M	692,067.13M	322,090.97M	253,824.83M	243,754.09M	360,269.94M
Total Assets	1,406,705.96M	1,362,407.92M	1,362,407.92M	1,314,042.45M	1,233,454.45M	1,161,628.63M	1,027,871.65M	893,634.00M	771,727.97M	735,713.66M	508,746.40M	438,206.21M	408,792.33M	379,488.11M
Accounts Payable	0.00M	172.54M	172.54M	0.00M	303.44M	0.00M	0.00M	0.00M	0.00M	7,944.26M	7,826.71M	7,635.45M	5,713.02M	0.00M
Short-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
Tax Payables	0.00M	0.00M	0.00M	1,448.73M	2,822.71M	1,982.05M	2,450.05M	2,839.76M	2,003.10M	1,011.23M	1,363.75M	1,479.93M	588.93M	0.00M
Deferred Revenue	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 Current Liabilities	-20,857.30M	-172.54M	-172.54M	0.00M	-3,022.59M	-260.23M	-2,565.83M	-2,781.70M	-4,700.08M	-10,987.68M	-434,797.00M	-402,045.36M	-362,641.38M	0.00M
Total Current Liabilities	-20,857.30M	0.00M	0.00M	1,448.73M	103.56M	1,721.82M	-115.78M	58.06M	-2,696.98M	-2,032.19M	-425,606.53M	-392,929.98M	-356,339.44M	0.00M
Long-Term Debt	36,581.16M	38,229.01M	38,229.01M	136,976.26M	23,942.55M	22,270.31M	22,898.97M	22,107.24M	25,205.43M	16,761.40M	15,570.45M	13,375.36M	14,593.51M	3,551.37M
Capital Lease Obligations	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	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 Non-Current Liabilities	1,267,879.57M	1,198,406.05M	1,198,406.05M	1,186,628.22M	0.00M	0.00M	0.00M	0.00M	-25,205.43M	-16,761.40M	-15,570.45M	-13,375.36M	-14,593.51M	342,917.24M
Total Non-Current Liabilities	1,304,460.73M	1,236,635.06M	1,236,635.06M	1,323,604.48M	23,942.55M	22,270.31M	22,898.97M	22,107.24M	0.00M	0.00M	0.00M	0.00M	0.00M	346,468.60M
Total Liabilities	1,283,603.43M	1,236,635.06M	1,236,635.06M	1,325,053.22M	24,046.11M	23,992.12M	22,783.20M	22,165.31M	-2,696.98M	-2,032.19M	-425,606.53M	-392,929.98M	-356,339.44M	346,468.60M
Preferred Stock	0.00M	0.00M	0.00M	9,820.73M	9,820.73M	9,820.73M	9,820.73M	9,820.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	14,409.79M	14,409.79M	14,409.79M	14,409.79M	11,451.27M	11,451.27M	9,808.27M	9,808.27M	9,808.27M	9,808.27M	8,153.42M	8,153.42M	8,153.42M	8,153.42M
Retained Earnings	25,248.19M	43,039.96M	43,039.96M	19,521.90M	41,415.17M	39,745.77M	39,138.48M	36,683.61M	31,124.92M	27,610.06M	12,311.44M	10,781.37M	9,845.84M	14,082.73M
Accumulated OCI	55,078.95M	37,408.16M	37,408.16M	22,393.85M	18,391.40M	19,009.53M	10,719.59M	12,034.08M	11,928.14M	8,626.19M	-4,027.79M	-3,672.39M	-3,294.19M	-380.69M
Minority Interest	7,508.31M	8,060.23M	8,060.23M	7,714.70M	7,170.53M	6,857.96M	6,398.23M	5,362.62M	2,719.74M	2,433.20M	1,994.46M	1,918.18M	1,926.16M	1,493.96M
Total Shareholders’ Equity	94,736.93M	94,857.91M	94,857.91M	66,146.27M	81,078.57M	80,027.30M	69,487.08M	68,346.69M	52,861.33M	46,044.52M	16,437.08M	15,262.40M	14,705.07M	21,855.45M
Total Equity	102,245.23M	102,918.14M	102,918.14M	73,860.97M	88,249.10M	86,885.27M	75,885.31M	73,709.31M	55,581.07M	48,477.72M	18,431.54M	17,180.58M	16,631.23M	23,349.41M
Total Liabilities & Equity	1,385,848.66M	1,339,553.20M	1,339,553.20M	1,398,914.18M	112,295.21M	110,877.39M	98,668.51M	95,874.62M	52,884.09M	46,445.53M	-407,174.99M	-375,749.40M	-339,708.20M	369,818.02M
Tangible Assets	1,405,552.19M	1,361,232.97M	1,361,232.97M	1,312,954.88M	1,232,436.10M	1,160,694.22M	1,026,951.73M	892,733.04M	770,350.35M	734,942.00M	508,630.50M	438,094.55M	408,710.91M	379,426.55M
Tangible Equity	101,091.46M	101,743.19M	101,743.19M	72,773.39M	87,230.75M	85,950.86M	74,965.39M	72,808.35M	54,203.45M	47,706.06M	18,315.64M	17,068.93M	16,549.81M	23,287.85M
Tangible Book Value	101,091.46M	101,743.19M	101,743.19M	72,773.39M	87,230.75M	85,950.86M	74,965.39M	72,808.35M	54,203.45M	47,706.06M	18,315.64M	17,068.93M	16,549.81M	23,287.85M
Total Investments	0.00M	587,490.80M	587,490.80M	410,896.51M	349,437.11M	314,238.52M	262,524.19M	237,674.38M	227,853.13M	144,049.73M	150,040.90M	142,367.32M	55,480.07M	0.00M
Net Debt	2,874.76M	2,622.11M	2,622.11M	92,073.74M	-18,348.78M	-28,849.16M	-31,243.34M	-36,179.15M	-24,700.19M	-26,885.13M	-89,744.16M	-119,944.76M	-107,208.94M	-15,666.80M

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
Working Capital	0.0M	12,752.2M	12,752.2M	43,250.2M	40,172.8M	49,295.9M	51,479.2M	55,501.0M	46,742.5M	33,876.5M	178,828.7M	176,745.9M	159,325.2M	13,964.9M
Total Capital	131,318.1M	133,086.9M	133,086.9M	225,802.4M	105,021.1M	199,873.7M	92,386.0M	158,542.1M	128,171.8M	156,520.6M	137,815.6M	60,235.9M	43,183.1M	29,823.6M
Capital Employed	1,406,706.0M	1,339,553.2M	1,339,553.2M	1,312,390.2M	1,231,335.9M	1,159,805.1M	1,025,208.5M	891,368.9M	760,126.5M	725,943.6M	653,124.4M	575,171.8M	460,894.6M	374,234.8M
Invested Capital	97,611.7M	97,480.0M	97,480.0M	180,899.9M	62,729.8M	148,754.3M	38,243.7M	100,255.7M	78,266.1M	112,874.1M	32,501.0M	-73,084.2M	-78,619.4M	10,605.5M

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
Net Income	5,483.77M	6,667.37M	2,080.67M	2,912.88M	3,492.16M	3,175.21M	5,081.30M	7,520.35M	6,526.34M	5,708.72M	6,522.85M	6,429.11M	7,054.85M	4,827.92M
Depreciation & Amortization	1,209.87M	1,370.33M	604.80M	680.79M	630.90M	739.43M	793.14M	925.72M	586.45M	536.14M	534.87M	526.79M	491.89M	379.07M
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
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
Change in Working Capital	-77,710.44M	-107,554.12M	-60,276.39M	-13,678.97M	-47,660.93M	-59,893.19M	-82,252.99M	-13,905.63M	-40,684.06M	-8,868.23M	-28,493.99M	61,814.02M	41,608.61M	36,128.73M
Accounts Receivable	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	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
Accounts Payable	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	-77,710.44M	-107,554.12M	-60,276.39M	-13,678.97M	-47,660.93M	-59,893.19M	-82,252.99M	-86,302.12M	-81,058.33M	-78,178.51M	9,426.15M	-36,689.94M	-14,707.66M	36,128.73M
Other Non-Cash Items	-5,352.63M	27,059.42M	-5,381.17M	614.40M	25,100.26M	1,959.16M	-2,713.02M	-55,804.92M	-63,715.19M	-73,377.87M	-5,179.76M	-4,446.39M	-6,744.69M	-3,564.81M
Net Cash from Operating Activities	-76,369.42M	-72,457.00M	-62,972.09M	-9,470.91M	-18,437.62M	-54,019.39M	-79,091.57M	-61,264.49M	-97,286.46M	-76,001.23M	-26,616.04M	64,323.52M	42,410.66M	37,770.92M
Capital Expenditures (PPE)	-1,272.35M	-1,203.66M	-866.01M	-501.28M	-752.75M	-450.91M	-471.32M	-439.61M	-2,288.11M	-500.16M	-396.69M	-417.43M	-390.77M	-356.68M
Acquisitions (Net)	0.00M	0.00M	0.00M	0.00M	49,333.31M	43,231.39M	1,289.96M	3,967.47M	-45,547.43M	130.58M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	-139,779.85M	-156,654.09M	-156,368.57M	-127,503.04M	-93,698.71M	-52,228.80M	-338,635.40M	-521,962.41M	-319,808.20M	-246,028.35M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	96,429.70M	107,320.78M	113,137.19M	114,130.87M	85,504.16M	97,776.23M	339,392.05M	487,878.07M	236,507.15M	257,117.68M	0.00M
Other Investing Activities	-80,646.47M	-92,401.99M	-14,984.45M	188.51M	-49,226.93M	-43,175.06M	80.43M	136.84M	45,586.49M	160.66M	41.40M	2.01M	3.08M	-27,341.59M
Net Cash from Investing Activities	-81,918.82M	-93,605.65M	-15,850.46M	-43,662.93M	-49,979.68M	-43,625.97M	-12,473.10M	-4,529.85M	43,298.39M	547.73M	-34,439.63M	-83,716.47M	10,701.64M	-27,698.27M
Net Debt Issuance	14,658.09M	0.00M	34,190.35M	3,810.83M	15,709.99M	31,241.65M	-2,172.28M	14,289.41M	-38,759.14M	7,994.07M	69,861.18M	9,084.18M	9,008.59M	0.00M
Long-Term Debt Issuance	14,658.09M	0.00M	34,190.35M	3,810.83M	15,709.99M	31,241.65M	-2,172.28M	14,289.41M	-38,759.14M	7,994.07M	69,861.18M	9,084.18M	9,008.59M	0.00M
Short-Term Debt 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
Net Stock Issuance	0.00M	0.00M	-10,172.02M	6,433.25M	0.00M	9,662.98M	0.00M	9,839.12M	0.00M	7,255.81M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	0.00M	0.00M	0.00M	6,433.25M	0.00M	9,662.98M	0.00M	0.00M	0.00M	7,255.81M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	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
Preferred Stock Issuance	0.00M	0.00M	-10,172.02M	0.00M	0.00M	0.00M	0.00M	9,839.12M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-2,847.51M	-4,390.67M	-1,242.52M	-1,847.79M	-1,822.76M	-2,567.92M	-2,626.42M	-1,961.65M	-1,961.65M	-1,630.68M	-1,630.68M	-2,282.96M	-2,038.36M	-1,793.75M
Common Dividends Paid	-2,847.51M	-4,390.67M	-1,242.52M	-1,202.38M	-1,202.38M	-1,961.65M	-1,961.65M	-1,961.65M	-1,961.65M	-1,630.68M	-1,630.68M	-2,282.96M	-2,038.36M	-1,793.75M
Preferred Dividends Paid	0.00M	0.00M	0.00M	-645.40M	-620.37M	-606.26M	-664.77M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	83,365.81M	170,294.75M	44,907.64M	-4,337.48M	50,310.16M	63,369.97M	106,011.55M	53,002.34M	62,628.16M	64,969.08M	-1,445.88M	-555.74M	56,470.96M	262.22M
Net Cash from Financing Activities	95,176.38M	165,904.08M	67,683.45M	4,058.81M	64,197.40M	101,706.68M	101,212.84M	75,169.21M	21,907.37M	78,588.27M	66,784.61M	6,245.48M	7,124.92M	-1,531.54M
Effect of FX on Cash	39.65M	202.09M	45.06M	31.60M	423.00M	-220.90M	-818.21M	176.41M	153.09M	-83.61M	38.03M	33.83M	86.30M	-15.88M
Net Change in Cash	19,235.63M	43.51M	-11,094.04M	-49,043.43M	-3,796.91M	3,840.42M	8,829.96M	9,551.28M	-31,927.61M	3,051.15M	5,766.97M	-13,113.65M	60,323.52M	8,525.23M
Cash at Beginning of Period	133,517.77M	319,654.97M	46,700.94M	95,744.37M	99,541.28M	95,700.86M	86,870.90M	77,319.62M	109,247.23M	106,196.08M	100,429.11M	113,542.75M	53,219.23M	44,694.00M
Cash at End of Period	152,753.40M	319,698.48M	35,606.90M	46,700.94M	95,744.37M	99,541.28M	95,700.86M	86,870.90M	77,319.62M	109,247.23M	106,196.08M	100,429.11M	113,542.75M	53,219.23M
Operating Cash Flow	-76,369.42M	-72,457.00M	-62,972.09M	-9,470.91M	-18,437.62M	-54,019.39M	-79,091.57M	-61,264.49M	-97,286.46M	-76,001.23M	-26,616.04M	64,323.52M	42,410.66M	37,770.92M
Capital Expenditure	-1,272.35M	-1,203.66M	-866.01M	-501.28M	-752.75M	-450.91M	-471.32M	-439.61M	-2,288.11M	-500.16M	-396.69M	-417.43M	-390.77M	-356.68M
Free Cash Flow	-77,641.77M	-73,660.67M	-63,838.10M	-9,972.19M	-19,190.37M	-54,470.30M	-79,562.89M	-61,704.09M	-99,574.57M	-76,501.39M	-27,012.73M	63,906.09M	42,019.89M	37,414.24M

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
EBITDA	10,615.37M	2,757.77M	-20,579.88M	18,158.57M	-12,905.53M	-11,499.27M	8,774.50M	12,209.14M	10,677.34M	9,224.55M	14,519.33M	15,642.61M	13,513.02M	903.29M
(-) Tax Adjustment	457.82M	426.15M	0.00M	0.00M	-1,352.18M	-1,756.88M	1,410.81M	2,448.47M	2,305.25M	2,004.61M	3,153.02M	3,476.32M	3,013.82M	216.16M
(-) Change In Working Capital	-77,710.44M	-107,554.12M	-60,276.39M	-13,678.97M	-47,660.93M	-59,893.19M	-82,252.99M	-13,905.63M	-40,684.06M	-8,868.23M	-28,493.99M	61,814.02M	41,608.61M	36,128.73M
(-) Capital Expenditure	-1,272.35M	-1,203.66M	-866.01M	-501.28M	-752.75M	-450.91M	-471.32M	-439.61M	-2,288.11M	-500.16M	-396.69M	-417.43M	-390.77M	-356.68M
Unlevered Free Cash Flow	86,595.63M	108,682.08M	38,830.50M	31,336.25M	35,354.83M	49,699.89M	89,145.36M	23,226.69M	46,768.04M	15,588.01M	39,463.62M	-50,065.16M	-31,500.19M	-35,798.28M
(-) Net Interest Income After Taxes	0.00M	0.00M	13,614.75M	16,583.43M	16,635.08M	16,570.87M	14,810.03M	14,840.82M	10,406.29M	9,153.17M	8,353.55M	9,018.89M	9,328.37M	0.00M
Net Debt Issuance	14,658.09M	0.00M	34,190.35M	3,810.83M	15,709.99M	31,241.65M	-2,172.28M	14,289.41M	-38,759.14M	7,994.07M	69,861.18M	9,084.18M	9,008.59M	0.00M
Levered Free Cash Flow	101,253.72M	108,682.08M	59,406.10M	18,563.65M	34,429.74M	64,370.67M	72,163.05M	22,675.28M	-2,397.38M	14,428.91M	100,971.25M	-49,999.87M	-31,819.97M	-35,798.28M