Consun Pharmaceutical Group Limited (1681.HK)

Industry: Drug Manufacturers - Specialty & Generic Sector: Healthcare Currency Used: CN Live Price: $17.26

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012
Stock Price	6.43	4.61	3.58	3.90	2.75	4.42	5.09	5.66	3.42	4.36	4.66	3.83	3.98
Market Capitalization	5,399.71M	3,690.65M	2,835.37M	3,148.70M	2,242.75M	3,760.08M	4,468.84M	4,890.42M	3,284.70M	4,357.44M	4,688.55M	2,917.38M	3,660.88M
(-) Cash & Equivalents	2,751.80M	2,696.23M	2,195.40M	1,955.90M	1,730.72M	1,402.48M	1,197.66M	825.39M	564.29M	776.38M	951.14M	551.45M	27.25M
(+) Total Debt	391.29M	524.62M	469.27M	601.56M	567.29M	633.86M	420.53M	567.07M	0.00M	0.00M	10.00M	18.50M	0.00M
Enterprise Value	3,039.21M	1,519.04M	1,109.24M	1,794.36M	1,079.32M	2,991.47M	3,691.72M	4,632.10M	2,720.41M	3,581.05M	3,747.41M	2,384.43M	3,633.63M

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
Revenue	6,006M	4,617M	2,967M	2,590M	2,340M	2,045M	1,753M	1,728M	1,844M	1,660M	1,223M	831M	731M	572M	458M
Cost of Revenue	1,470M	1,152M	725M	668M	577M	517M	431M	467M	460M	432M	312M	161M	159M	120M	111M
Gross Profit	4,536M	3,465M	2,242M	1,922M	1,763M	1,527M	1,322M	1,261M	1,384M	1,228M	911M	671M	572M	452M	347M
Gross Profit Margin	75.5%	75.1%	75.6%	74.2%	75.3%	74.7%	75.4%	73.0%	75.1%	74.0%	74.5%	80.7%	78.3%	79.1%	75.7%
R&D Expenses	204M	233M	98M	109M	118M	102M	84M	75M	68M	45M	38M	31M	27M	21M	0M
SG&A Expenses	2,661M	2,047M	1,293M	1,168M	1,094M	900M	746M	701M	738M	704M	516M	382M	345M	256M	186M
Operating Expenses	2,452M	2,031M	1,197M	1,037M	1,006M	819M	717M	1,121M	757M	676M	509M	383M	336M	246M	168M
Operating Income (EBIT)	2,084M	1,435M	1,045M	885M	757M	709M	605M	140M	628M	553M	402M	288M	235M	206M	179M
Operating Income Margin	34.7%	31.1%	35.2%	34.2%	32.4%	34.7%	34.5%	8.1%	34.1%	33.3%	32.8%	34.6%	32.2%	36.1%	39.0%
Interest Income	96M	78M	88M	69M	52M	39M	28M	7M	11M	8M	3M	28M	29M	4M	2M
Interest Expense	0M	0M	25M	21M	11M	13M	21M	29M	27M	15M	2M	0M	0M	0M	0M
Net Interest Income	96M	78M	63M	48M	41M	26M	6M	-22M	-16M	-7M	2M	27M	29M	4M	2M
Unusual Items	-139M	0M	-88M	-69M	-52M	-39M	-28M	16M	5M	-1M	0M	0M	0M	0M	-2M
EBT Excluding Unusual Items	2,180M	1,512M	1,108M	933M	799M	735M	612M	118M	612M	545M	403M	315M	264M	210M	181M
Pre-Tax Income	2,041M	1,512M	1,020M	864M	746M	696M	584M	134M	617M	545M	403M	315M	264M	210M	179M
Pre-Tax Margin	34.0%	32.7%	34.4%	33.3%	31.9%	34.0%	33.3%	7.7%	33.4%	32.8%	33.0%	37.9%	36.2%	36.8%	39.1%
Income Tax Expense	182M	138M	103M	77M	63M	109M	102M	71M	119M	123M	84M	65M	53M	58M	43M
Net Income	1,845M	1,370M	910M	785M	683M	590M	499M	80M	465M	396M	308M	250M	211M	153M	136M
Net Income Margin	30.7%	29.7%	30.7%	30.3%	29.2%	28.9%	28.5%	4.6%	25.2%	23.9%	25.1%	30.0%	28.9%	26.7%	29.8%
Depreciation & Amortization	136M	140M	72M	78M	70M	69M	69M	73M	72M	67M	40M	19M	15M	12M	12M
EBITDA	2,220M	1,575M	1,117M	963M	828M	777M	674M	213M	699M	620M	442M	306M	251M	219M	190M
EBITDA Margin	37.0%	34.1%	37.6%	37.2%	35.4%	38.0%	38.4%	12.3%	37.9%	37.3%	36.1%	36.9%	34.3%	38.2%	41.6%
NOPAT	1,897M	1,303M	940M	806M	694M	598M	499M	66M	507M	428M	318M	228M	188M	150M	136M
NOPAT Margin	31.6%	28.2%	31.7%	31.1%	29.7%	29.2%	28.5%	3.8%	27.5%	25.8%	26.0%	27.5%	25.8%	26.2%	29.7%
Owner's Earnings	1,812M	1,381M	873M	810M	702M	560M	519M	-27M	344M	408M	323M	251M	205M	101M	111M
Owner's Earnings Margin	30.2%	29.9%	29.4%	31.3%	30.0%	27.4%	29.6%	-1.6%	18.6%	24.6%	26.4%	30.2%	28.1%	17.7%	24.2%
EPS (Basic)	2.23	1.72	1.11	0.98	0.86	0.74	0.61	0.09	0.54	0.46	0.32	0.25	0.21	0.20	0.14
EPS (Diluted)	2.22	1.72	1.09	0.98	0.86	0.73	0.61	0.09	0.53	0.46	0.32	0.25	0.21	0.20	0.14
Shares (Basic)	833M	799M	821M	801M	791M	802M	817M	849M	855M	861M	960M	982M	999M	759M	1,000M
Shares (Diluted)	831M	796M	832M	799M	792M	805M	817M	854M	878M	867M	960M	982M	999M	759M	1,000M

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
Cash & Cash Equivalents	2,243.32M	2,907.68M	2,907.68M	2,748.26M	2,450.17M	2,196.32M	1,940.27M	1,383.23M	1,269.75M	989.57M	672.71M	489.99M	843.67M	902.03M	81.76M
Short-Term Investments	1,794.00M	958.00M	958.00M	834.94M	589.17M	230.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	250.90M	0.00M	0.00M
Cash & Short-Term Investments	4,037.32M	3,865.68M	3,865.68M	3,583.20M	3,039.35M	2,426.32M	1,940.27M	1,383.23M	1,269.75M	989.57M	672.71M	489.99M	1,094.57M	902.03M	81.76M
Net Receivables	296.34M	297.57M	297.57M	255.84M	259.56M	351.23M	448.54M	763.81M	863.99M	970.29M	557.28M	363.70M	232.14M	225.00M	253.47M
Inventory	286.70M	289.68M	289.68M	367.09M	287.66M	257.62M	227.37M	210.68M	210.31M	200.00M	140.97M	71.01M	53.48M	48.97M	22.44M
Other Current Assets	146.04M	72.55M	72.55M	54.13M	24.52M	6.08M	9.89M	51.93M	52.11M	24.79M	19.05M	35.48M	16.33M	16.70M	76.47M
Total Current Assets	4,766.40M	4,525.48M	4,525.48M	4,260.26M	3,611.09M	3,041.25M	2,626.07M	2,409.65M	2,396.16M	2,184.65M	1,390.01M	960.19M	1,396.53M	1,192.69M	434.13M
Property, Plant & Equipment	915.20M	925.54M	925.54M	863.71M	875.00M	858.45M	799.45M	788.12M	561.79M	400.80M	392.88M	223.77M	229.91M	232.27M	193.18M
Goodwill	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	320.65M	320.65M	320.65M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	267.28M	268.96M	268.96M	283.14M	311.90M	341.66M	371.42M	396.07M	560.44M	460.22M	530.03M	363.70M	232.14M	0.00M	0.00M
Long-Term Investments	63.31M	29.08M	29.08M	9.23M	6.50M	1,153.25M	1,111.99M	1,138.25M	1,407.77M	2.60M	2.60M	639.26M	2.60M	2.60M	0.00M
Tax Assets	0.00M	0.00M	0.00M	0.00M	36.43M	46.86M	58.89M	45.94M	35.10M	34.71M	18.33M	8.64M	9.70M	0.00M	5.17M
Other Non-Current Assets	80.81M	78.19M	78.19M	73.84M	-36.43M	-1,200.11M	-1,170.87M	-1,184.19M	-1,442.88M	-34.71M	-18.33M	-863.03M	-232.51M	29.39M	2.60M
Other Assets	0.00M	0.00M	0.00M	0.00M	76.31M	106.80M	120.69M	114.25M	58.01M	203.11M	122.89M	94.67M	33.90M	0.00M	0.00M
Total Non-Current Assets	1,326.61M	1,301.77M	1,301.77M	1,229.91M	1,269.71M	1,306.91M	1,291.56M	1,298.44M	1,500.88M	1,387.37M	1,369.05M	467.01M	275.74M	264.26M	200.95M
Total Assets	6,093.00M	5,827.25M	5,827.25M	5,490.17M	4,880.80M	4,348.15M	3,917.63M	3,708.09M	3,897.04M	3,572.02M	2,759.06M	1,427.20M	1,672.27M	1,456.95M	635.08M
Accounts Payable	96.86M	75.64M	75.64M	83.10M	59.89M	66.64M	50.89M	55.52M	92.76M	68.74M	79.73M	39.76M	36.42M	20.57M	31.98M
Short-Term Debt	239.28M	253.34M	253.34M	503.42M	450.52M	599.30M	549.41M	553.57M	147.20M	193.62M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Payables	0.00M	0.00M	0.00M	43.38M	32.89M	2.54M	71.11M	69.46M	99.49M	95.34M	62.13M	27.68M	27.13M	0.00M	9.55M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	-454.23M	-602.43M	0.00M	-553.57M	-147.20M	-193.62M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	225.32M	299.28M	299.28M	265.51M	724.47M	825.24M	325.14M	876.18M	313.03M	296.14M	229.62M	94.81M	68.54M	69.95M	31.48M
Total Current Liabilities	561.46M	628.26M	628.26M	895.40M	813.54M	891.29M	996.55M	1,001.16M	505.28M	460.22M	371.48M	162.25M	132.09M	90.52M	73.00M
Long-Term Debt	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	245.34M	374.48M	0.00M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	14.07M	13.83M	13.83M	8.12M	9.66M	11.67M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	0.00M	67.19M	67.19M	71.21M	78.01M	69.30M	86.26M	88.29M	137.22M	142.41M	129.67M	40.20M	39.49M	0.00M	28.58M
Other Non-Current Liabilities	93.81M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-39.90M	0.00M
Total Non-Current Liabilities	107.88M	81.02M	81.02M	79.33M	87.67M	80.97M	86.26M	88.29M	382.55M	516.90M	129.67M	40.20M	39.49M	-39.90M	28.58M
Total Liabilities	669.34M	709.28M	709.28M	974.73M	901.20M	972.27M	1,082.82M	1,089.45M	887.83M	977.11M	501.15M	202.46M	171.58M	50.62M	101.59M
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
Common Stock	67.58M	67.31M	67.31M	63.81M	63.45M	64.80M	64.42M	68.03M	68.78M	68.65M	76.24M	78.07M	78.25M	78.25M	0.00M
Retained Earnings	0.00M	3,650.16M	3,650.16M	3,380.57M	2,913.17M	2,392.55M	2,003.20M	1,640.45M	1,782.25M	1,316.90M	1,133.55M	836.81M	587.13M	375.93M	0.00M
Accumulated OCI	4,282.57M	163.67M	163.67M	247.15M	251.70M	253.89M	241.38M	228.84M	206.93M	202.51M	185.22M	163.93M	83.21M	80.59M	-59.15M
Minority Interest	296.32M	295.45M	295.45M	292.21M	293.87M	293.08M	296.13M	312.68M	339.79M	317.46M	300.56M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	4,350.15M	3,881.14M	3,881.14M	3,691.53M	3,228.31M	2,711.24M	2,309.01M	1,937.32M	2,057.96M	1,588.06M	1,395.01M	1,078.82M	748.59M	534.76M	-59.15M
Total Equity	4,646.47M	4,176.59M	4,176.59M	3,983.74M	3,522.18M	3,004.32M	2,605.14M	2,250.00M	2,397.75M	1,905.52M	1,695.56M	1,078.82M	748.59M	534.76M	-59.15M
Total Liabilities & Equity	5,315.82M	4,885.87M	4,885.87M	4,958.47M	4,423.38M	3,976.58M	3,687.96M	3,339.45M	3,285.58M	2,882.63M	2,196.72M	1,281.27M	920.17M	585.38M	42.44M
Tangible Assets	5,825.72M	5,558.29M	5,558.29M	5,207.03M	4,568.89M	4,006.49M	3,546.21M	3,312.02M	3,015.95M	2,791.16M	1,908.38M	1,063.50M	1,440.12M	1,456.95M	635.08M
Tangible Equity	4,379.19M	3,907.63M	3,907.63M	3,700.60M	3,210.27M	2,662.65M	2,233.72M	1,853.93M	1,516.66M	1,124.66M	844.89M	715.11M	516.44M	534.76M	-59.15M
Tangible Book Value	4,379.19M	3,907.63M	3,907.63M	3,700.60M	3,210.27M	2,662.65M	2,233.72M	1,853.93M	1,516.66M	1,124.66M	844.89M	715.11M	516.44M	534.76M	-59.15M
Total Investments	1,857.31M	987.08M	987.08M	844.17M	595.67M	1,383.25M	1,111.99M	1,138.25M	1,407.77M	2.60M	2.60M	639.26M	253.50M	2.60M	2.60M
Net Debt	-2,004.04M	-2,654.34M	-2,654.34M	-2,244.84M	-1,999.65M	-1,597.02M	-1,390.86M	-829.67M	-877.21M	-421.46M	-672.71M	-489.99M	-843.67M	-902.03M	-81.76M

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
Working Capital	3,418.3M	3,180.5M	3,180.5M	2,783.1M	2,272.2M	1,698.4M	1,326.8M	1,113.4M	1,397.0M	1,214.4M	843.3M	730.8M	1,218.3M	1,042.6M	184.7M
Total Capital	4,603.5M	4,364.8M	4,364.8M	4,138.0M	3,605.3M	3,228.7M	2,769.8M	2,547.7M	2,549.8M	2,314.8M	1,760.5M	1,636.8M	1,433.2M	1,257.4M	355.2M
Capital Employed	4,744.9M	4,482.3M	4,482.3M	4,013.0M	3,541.9M	3,005.3M	2,618.4M	2,411.8M	2,897.9M	2,601.8M	2,212.3M	1,688.5M	1,484.7M	1,306.8M	385.7M
Invested Capital	2,360.2M	1,457.1M	1,457.1M	1,389.8M	1,155.1M	1,032.4M	829.5M	1,164.4M	1,280.0M	1,325.2M	1,087.8M	1,146.8M	589.5M	355.3M	273.4M

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
Net Income	1,845.40M	1,370.33M	1,020.11M	863.70M	682.91M	590.17M	498.79M	79.82M	465.35M	396.24M	307.53M	249.69M	211.20M	152.88M	179.06M
Depreciation & Amortization	110.20M	151.92M	63.99M	78.09M	76.36M	72.99M	71.80M	73.12M	68.38M	64.03M	39.07M	18.59M	15.23M	12.31M	11.71M
Deferred Income Tax	0.00M	-82.08M	0.00M	0.00M	-57.18M	-98.06M	-288.12M	-41.49M	-63.30M	451.69M	80.32M	118.93M	-41.34M	0.00M	0.00M
Stock-Based Compensation	0.00M	5.64M	0.00M	0.00M	-1.78M	23.41M	12.17M	19.92M	8.49M	21.19M	22.49M	35.32M	47.63M	0.00M	0.00M
Change in Working Capital	-68.47M	154.66M	153.88M	-29.67M	61.97M	92.69M	266.82M	21.57M	54.81M	-472.88M	-102.82M	-154.25M	-6.30M	-2.07M	-10.99M
Accounts Receivable	-29.61M	228.08M	-27.90M	-1.71M	113.87M	114.21M	304.46M	25.60M	67.85M	-412.87M	-128.25M	-136.55M	-1.78M	24.46M	0.00M
Inventory	-24.61M	-94.46M	77.41M	-102.02M	-54.90M	-39.56M	-28.50M	-4.03M	-13.03M	-60.01M	25.43M	-17.70M	-4.52M	-26.52M	-2.08M
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	0.00M
Other Working Capital	-14.25M	21.04M	104.37M	74.06M	3.00M	18.04M	-9.14M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-8.91M
Other Non-Cash Items	257.55M	50.92M	-150.99M	-93.15M	185.42M	44.34M	305.61M	230.38M	220.47M	243.55M	182.90M	34.69M	26.95M	0.48M	-50.96M
Net Cash from Operating Activities	2,144.68M	1,733.47M	1,086.99M	818.97M	947.68M	725.54M	867.06M	383.32M	754.21M	252.12M	449.18M	184.04M	294.72M	163.61M	128.83M
Capital Expenditures (PPE)	-106.89M	-129.73M	-109.00M	-52.56M	-51.59M	-98.25M	-48.70M	-179.75M	-193.35M	-54.97M	-25.03M	-17.28M	-20.97M	-64.09M	-37.33M
Acquisitions (Net)	0.00M	0.00M	-10.00M	0.00M	365.67M	230.00M	0.00M	0.00M	0.00M	0.00M	134.04M	-641.34M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	-285.00M	-557.50M	-465.67M	-350.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-62.46M	-250.90M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	151.94M	309.23M	100.00M	120.00M	0.00M	0.00M	0.00M	0.00M	0.00M	250.90M	0.00M	0.00M	0.00M
Other Investing Activities	-1,261.48M	-140.18M	65.15M	69.06M	-317.22M	-200.06M	23.00M	69.61M	12.54M	-5.08M	-17.12M	14.38M	23.59M	80.36M	-74.13M
Net Cash from Investing Activities	-1,368.36M	-269.91M	-186.91M	-231.77M	-368.80M	-298.31M	-25.70M	-110.13M	-180.80M	-60.05M	91.89M	-455.81M	-248.28M	16.28M	-111.46M
Net Debt Issuance	-14.27M	-72.45M	-255.79M	62.97M	-177.35M	62.84M	25.83M	147.49M	-197.01M	594.64M	-90.00M	0.00M	0.00M	0.00M	-13.60M
Long-Term Debt Issuance	-14.27M	-72.45M	0.00M	59.46M	-174.49M	62.84M	25.83M	147.49M	-197.01M	594.64M	-90.00M	0.00M	0.00M	0.00M	-13.60M
Short-Term Debt Issuance	0.00M	0.00M	-255.79M	62.97M	-2.86M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-21.02M	-59.22M	240.50M	14.20M	-29.07M	-30.15M	-152.75M	-46.21M	5.62M	-505.72M	-81.13M	-53.48M	-45.36M	852.93M	14.03M
Common Stock Issuance	0.00M	382.88M	240.50M	14.20M	2.64M	14.57M	0.00M	2.49M	5.62M	244.37M	0.00M	0.00M	0.00M	852.93M	14.03M
Common Stock Repurchased	-21.02M	-59.22M	0.00M	0.00M	-29.07M	-30.15M	-152.75M	-46.21M	0.00M	-505.72M	-81.13M	-8.84M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	0.00M	-2.64M	-14.57M	0.00M	-2.49M	0.00M	-244.37M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-1,031.94M	-399.69M	-680.54M	-326.25M	-127.49M	-198.08M	-131.49M	-225.55M	-68.94M	-173.23M	-114.51M	-28.00M	-38.00M	-181.91M	-0.91M
Common Dividends Paid	-1,031.94M	-399.69M	-680.54M	-326.25M	-127.49M	-198.08M	-131.49M	-225.55M	-68.94M	-173.23M	-114.51M	-28.00M	-38.00M	-181.91M	-0.91M
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
Other Financing Activities	-69.41M	-16.81M	-33.42M	-31.02M	-8.30M	-1.27M	-21.40M	-32.39M	-32.10M	212.43M	-72.70M	-0.44M	-21.44M	-30.64M	0.00M
Net Cash from Financing Activities	-1,136.64M	-548.15M	-729.26M	-280.10M	-342.21M	-166.66M	-279.80M	-156.66M	-292.43M	128.13M	-358.34M	-81.92M	-104.80M	640.38M	-0.48M
Effect of FX on Cash	-40.56M	13.31M	-11.40M	-9.01M	17.18M	-4.52M	-4.51M	-3.04M	-0.80M	-3.35M	0.00M	0.00M	0.00M	81.76M	0.00M
Net Change in Cash	-400.88M	928.71M	159.42M	298.09M	253.85M	256.05M	557.04M	113.49M	280.18M	316.85M	182.72M	-353.68M	-58.36M	902.03M	16.88M
Cash at Beginning of Period	5,240.11M	8,302.60M	2,748.26M	2,450.17M	2,196.32M	1,940.27M	1,383.23M	1,269.75M	989.57M	672.71M	489.99M	843.67M	902.03M	0.00M	64.87M
Cash at End of Period	7,483.43M	9,231.32M	2,907.68M	2,748.26M	2,450.17M	2,196.32M	1,940.27M	1,383.23M	1,269.75M	989.57M	672.71M	489.99M	843.67M	902.03M	81.76M
Operating Cash Flow	2,144.68M	1,733.47M	1,086.99M	818.97M	947.68M	725.54M	867.06M	383.32M	754.21M	252.12M	449.18M	184.04M	294.72M	163.61M	128.83M
Capital Expenditure	-168.97M	-129.73M	-109.00M	-52.56M	-51.59M	-98.25M	-48.70M	-179.75M	-193.35M	-54.97M	-25.03M	-17.28M	-20.97M	-64.09M	-37.33M
Free Cash Flow	1,975.71M	1,603.74M	977.99M	766.41M	896.09M	627.29M	818.36M	203.57M	560.86M	197.15M	424.15M	166.76M	273.75M	99.53M	91.50M

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
EBITDA	1,806.68M	1,325.11M	922.70M	723.43M	621.39M	593.71M	560.68M	558.45M	649.94M	546.70M	397.29M	275.88M	214.43M	188.10M	172.19M
(-) Tax Adjustment	161.51M	121.31M	92.92M	64.62M	52.20M	92.78M	97.96M	195.46M	125.63M	123.55M	82.51M	57.05M	42.99M	51.46M	41.21M
(-) Change In Working Capital	-68.47M	154.66M	153.88M	-29.67M	61.97M	92.69M	266.82M	21.57M	54.81M	-472.88M	-102.82M	-154.25M	-6.30M	-2.07M	-10.99M
(-) Capital Expenditure	-168.97M	-129.73M	-109.00M	-52.56M	-51.59M	-98.25M	-48.70M	-179.75M	-193.35M	-54.97M	-25.03M	-17.28M	-20.97M	-64.09M	-37.33M
Unlevered Free Cash Flow	1,544.67M	919.42M	566.89M	635.91M	455.64M	309.98M	147.20M	161.68M	276.15M	841.06M	392.56M	355.80M	156.76M	74.62M	104.63M
(-) Net Interest Income After Taxes	87.68M	70.55M	57.03M	43.40M	38.00M	22.23M	5.35M	-14.56M	-13.12M	-5.51M	1.42M	21.49M	23.02M	3.06M	1.78M
Net Debt Issuance	-14.27M	-72.45M	-255.79M	62.97M	-177.35M	62.84M	25.83M	147.49M	-197.01M	594.64M	-90.00M	0.00M	0.00M	0.00M	-13.60M
Levered Free Cash Flow	1,442.71M	776.42M	254.08M	655.49M	240.29M	350.60M	167.68M	323.73M	92.26M	1,441.21M	301.14M	334.31M	133.74M	71.56M	89.25M