Genertec Universal Medical Group Company Limited (2666.HK)

Industry: Financial - Credit Services Sector: Financial Services Currency Used: CN Live Price: $6.32

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Stock Price	4.31	3.99	4.14	5.45	4.57	5.38	5.21	5.92	5.24	4.51	4.00	3.93
Market Capitalization	8,889.62M	8,343.14M	8,417.74M	10,906.33M	7,857.78M	9,255.49M	8,934.65M	10,154.82M	8,985.89M	6,796.38M	3,599.10M	4,986.22M
(-) Cash & Equivalents	2,599.70M	3,025.04M	3,179.54M	2,777.13M	2,434.98M	2,509.87M	2,059.08M	1,179.70M	1,542.63M	1,236.44M	226.78M	159.50M
(+) Total Debt	53,444.35M	52,874.87M	48,201.42M	46,341.85M	40,934.23M	40,626.57M	33,105.08M	25,532.13M	18,984.85M	15,473.72M	6,326.71M	2,276.63M
Enterprise Value	59,734.27M	58,192.97M	53,439.63M	54,471.06M	46,357.02M	47,372.19M	39,980.65M	34,507.25M	26,428.11M	21,033.66M	9,699.03M	7,103.36M

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	27,726M	22,996M	13,663M	13,650M	11,566M	9,567M	8,243M	6,747M	4,295M	3,424M	2,709M	2,195M	1,557M	984M
Cost of Revenue	-45M	165M	9,072M	9,078M	7,579M	5,715M	4,967M	3,637M	1,705M	1,245M	966M	885M	620M	0M
Gross Profit	27,771M	22,831M	4,592M	4,572M	3,987M	3,852M	3,276M	3,110M	2,590M	2,179M	1,743M	1,310M	937M	984M
Gross Profit Margin	100.2%	99.3%	33.6%	33.5%	34.5%	40.3%	39.7%	46.1%	60.3%	63.6%	64.3%	59.7%	60.2%	100.0%
R&D Expenses	123M	73M	67M	0M	48M	26M	17M	14M	0M	0M	0M	0M	0M	0M
SG&A Expenses	3,485M	2,615M	1,709M	1,566M	1,356M	1,202M	994M	846M	632M	524M	554M	460M	317M	261M
Operating Expenses	3,608M	17,512M	1,505M	1,340M	1,147M	990M	860M	4,535M	2,436M	1,848M	1,503M	1,295M	946M	566M
Operating Income (EBIT)	24,163M	5,318M	3,087M	3,232M	2,840M	2,862M	2,416M	-1,425M	154M	332M	240M	15M	-9M	418M
Operating Income Margin	87.2%	23.1%	22.6%	23.7%	24.6%	29.9%	29.3%	-21.1%	3.6%	9.7%	8.9%	0.7%	-0.5%	42.5%
Interest Income	0M	0M	56M	84M	74M	57M	44M	91M	45M	34M	9M	9M	2M	0M
Interest Expense	0M	0M	51M	39M	35M	29M	31M	12M	0M	0M	0M	0M	0M	0M
Net Interest Income	0M	0M	5M	45M	39M	28M	13M	79M	44M	34M	9M	9M	2M	0M
Unusual Items	-18,212M	165M	-184M	-411M	-174M	-198M	-64M	3,557M	1,661M	1,210M	957M	876M	617M	0M
EBT Excluding Unusual Items	24,163M	5,318M	3,092M	3,277M	2,879M	2,889M	2,429M	-1,345M	198M	366M	248M	24M	-6M	418M
Pre-Tax Income	5,951M	5,483M	2,907M	2,866M	2,704M	2,692M	2,365M	2,212M	1,859M	1,576M	1,206M	900M	611M	418M
Pre-Tax Margin	21.5%	23.8%	21.3%	21.0%	23.4%	28.1%	28.7%	32.8%	43.3%	46.0%	44.5%	41.0%	39.3%	42.5%
Income Tax Expense	1,352M	1,299M	649M	667M	617M	661M	551M	577M	508M	428M	334M	242M	154M	106M
Net Income	4,337M	3,767M	2,104M	2,110M	1,960M	1,948M	1,747M	1,588M	1,352M	1,149M	872M	659M	457M	313M
Net Income Margin	15.6%	16.4%	15.4%	15.5%	16.9%	20.4%	21.2%	23.5%	31.5%	33.5%	32.2%	30.0%	29.3%	31.8%
Depreciation & Amortization	2,564M	-5,361M	602M	509M	442M	319M	270M	140M	31M	28M	22M	-850M	-620M	-374M
EBITDA	26,727M	-42M	3,689M	3,740M	3,282M	3,181M	2,686M	-1,285M	185M	360M	262M	-835M	-629M	44M
EBITDA Margin	96.4%	-0.2%	27.0%	27.4%	28.4%	33.3%	32.6%	-19.0%	4.3%	10.5%	9.7%	-38.0%	-40.4%	4.5%
NOPAT	18,673M	4,059M	2,398M	2,480M	2,192M	2,159M	1,853M	-1,053M	112M	242M	174M	11M	-6M	313M
NOPAT Margin	67.3%	17.7%	17.5%	18.2%	19.0%	22.6%	22.5%	-15.6%	2.6%	7.1%	6.4%	0.5%	-0.4%	31.8%
Owner's Earnings	4,740M	-2,812M	1,451M	1,722M	1,794M	1,882M	1,616M	1,520M	1,366M	1,158M	874M	-220M	-164M	-62M
Owner's Earnings Margin	17.1%	-12.2%	10.6%	12.6%	15.5%	19.7%	19.6%	22.5%	31.8%	33.8%	32.3%	-10.0%	-10.6%	-6.3%
EPS (Basic)	2.13	1.84	1.07	1.07	1.00	0.99	0.96	0.87	0.79	0.67	0.51	0.44	0.51	0.25
EPS (Diluted)	2.14	1.81	1.05	1.01	0.94	0.96	1.02	0.93	0.79	0.67	0.51	0.44	0.51	0.25
Shares (Basic)	2,075M	2,034M	1,892M	2,132M	2,036M	2,007M	1,716M	1,716M	1,716M	1,716M	1,716M	1,484M	900M	1,270M
Shares (Diluted)	2,026M	2,077M	2,010M	2,083M	2,077M	2,038M	1,716M	1,716M	1,716M	1,716M	1,716M	1,484M	900M	1,270M

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	2,236.28M	2,379.31M	2,379.31M	2,848.97M	2,705.34M	2,342.08M	2,036.54M	3,385.87M	2,173.47M	1,749.88M	1,272.46M	1,865.67M	453.57M	319.00M
Short-Term Investments	-2,236.28M	1.28M	1.28M	747.75M	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	2,380.59M	2,380.59M	3,596.72M	2,705.34M	2,342.08M	2,036.54M	3,385.87M	2,173.47M	1,749.88M	1,272.46M	1,865.67M	453.57M	319.00M
Net Receivables	0.00M	29,178.73M	29,178.73M	684.87M	24,157.31M	21,295.55M	18,863.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	506.79M	506.79M	431.14M	375.73M	265.43M	0.00M	156.73M	40.54M	21.05M	2.05M	2.64M	3.12M	0.00M
Other Current Assets	0.00M	791.29M	791.29M	25,982.44M	-24,558.95M	-21,560.98M	-18,863.00M	-156.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Assets	0.00M	32,857.39M	32,857.39M	30,695.18M	2,679.43M	2,342.08M	2,036.54M	3,385.87M	2,214.01M	1,770.93M	1,274.51M	1,868.31M	456.69M	319.00M
Property, Plant & Equipment	7,635.41M	7,626.91M	7,626.91M	5,552.88M	4,935.19M	3,317.92M	3,109.69M	2,812.50M	271.03M	86.88M	98.56M	89.59M	90.06M	104.47M
Goodwill	384.30M	381.00M	381.00M	286.54M	102.25M	102.25M	69.91M	69.91M	9.21M	9.21M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	290.66M	303.79M	303.79M	161.27M	79.17M	46.18M	58.60M	0.00M	132.13M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	0.00M	0.00M	0.00M	720.88M	4,373.60M	2,905.17M	212.61M	201.51M	31.77M	-67.78M	0.00M	0.00M	0.00M	0.00M
Tax Assets	0.00M	0.00M	0.00M	0.00M	743.02M	561.18M	398.74M	308.59M	248.47M	163.88M	53.54M	21.78M	22.50M	0.00M
Other Non-Current Assets	77,406.24M	75,341.30M	75,341.30M	70,774.22M	-5,116.62M	-3,466.36M	-611.35M	-510.09M	-280.24M	-96.09M	-53.54M	-21.78M	-22.50M	10,028.97M
Other Assets	0.00M	-30,695.85M	-30,695.85M	-27,846.20M	69,074.73M	64,091.37M	56,236.28M	51,584.27M	44,803.22M	35,886.54M	27,593.56M	21,702.63M	15,841.69M	0.00M
Total Non-Current Assets	85,716.62M	52,957.14M	52,957.14M	49,649.57M	74,191.35M	67,557.72M	59,474.48M	54,466.68M	45,215.59M	35,982.63M	27,692.13M	21,792.21M	15,931.75M	10,133.44M
Total Assets	85,716.62M	85,814.54M	85,814.54M	80,344.74M	76,870.77M	69,899.80M	61,511.01M	57,852.54M	47,429.60M	37,753.56M	28,966.64M	23,660.52M	16,388.44M	10,452.43M
Accounts Payable	0.00M	2,775.80M	2,775.80M	2,988.67M	2,294.42M	1,111.98M	868.40M	1,289.44M	482.38M	264.70M	194.33M	94.77M	956.42M	0.00M
Short-Term Debt	0.00M	21,495.98M	21,495.98M	22,453.36M	19,994.85M	15,140.79M	20,438.65M	15,340.11M	12,541.91M	11,194.05M	6,388.07M	7,706.63M	4,181.21M	0.00M
Tax Payables	0.00M	0.00M	0.00M	267.74M	84.01M	221.10M	129.40M	122.07M	121.63M	95.03M	86.50M	117.27M	17.77M	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	0.00M	-181.06M	-181.06M	721.15M	-25,853.73M	-17,937.27M	-22,600.70M	-17,032.63M	169.58M	153.02M	119.24M	82.62M	53.64M	-101.77M
Total Current Liabilities	0.00M	24,090.72M	24,090.72M	26,430.93M	-3,480.45M	-1,463.40M	-1,164.25M	-281.02M	13,315.50M	11,706.79M	6,788.14M	8,001.29M	5,209.05M	-101.77M
Long-Term Debt	30,032.50M	29,271.36M	29,271.36M	24,866.08M	25,926.61M	28,647.01M	18,657.17M	21,096.18M	19,627.81M	14,523.66M	13,200.56M	7,619.14M	6,784.57M	4,553.27M
Capital Lease Obligations	0.00M	5,744.23M	5,744.23M	4,863.95M	989.93M	5,107.28M	5,029.15M	5,474.69M	3,616.94M	3,606.24M	2,070.85M	2,213.58M	2,039.50M	0.00M
Deferred Tax Liabilities	0.00M	0.00M	0.00M	958.45M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	32,863.05M	32,813.78M	32,813.78M	30,382.94M	-3,468.12M	-3,396.60M	-3,673.52M	-3,875.01M	-3,059.08M	-3,276.05M	-1,766.16M	-1,838.49M	-1,685.86M	4,628.65M
Total Non-Current Liabilities	62,895.56M	67,829.37M	67,829.37M	61,071.41M	23,448.42M	30,357.69M	20,012.80M	22,695.86M	20,185.67M	14,853.85M	13,505.25M	7,994.24M	7,138.20M	9,181.92M
Total Liabilities	62,895.56M	91,920.09M	91,920.09M	87,502.34M	19,967.97M	28,894.28M	18,848.54M	22,414.84M	33,501.17M	26,560.64M	20,293.39M	15,995.52M	12,347.25M	9,080.14M
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
Common Stock	5,297.25M	5,297.25M	5,297.25M	5,297.25M	5,297.25M	5,297.25M	4,327.84M	4,327.84M	4,327.84M	4,327.84M	4,327.84M	4,327.84M	1,579.91M	775.29M
Retained Earnings	12,413.14M	11,789.15M	11,789.15M	10,364.72M	9,016.75M	7,705.25M	6,352.99M	5,159.57M	4,078.05M	3,078.21M	2,184.00M	1,500.17M	841.63M	393.26M
Accumulated OCI	1,046.60M	1,767.34M	1,767.34M	1,688.20M	1,316.53M	1,763.33M	1,742.07M	1,654.28M	1,642.20M	62.55M	62.55M	53.19M	5.97M	0.20M
Minority Interest	4,064.06M	4,016.01M	4,016.01M	3,017.78M	4,072.48M	2,857.43M	2,542.43M	2,305.52M	208.72M	0.23M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	18,757.00M	18,853.74M	18,853.74M	17,350.17M	15,630.53M	14,765.83M	12,422.90M	11,141.69M	10,048.09M	7,468.60M	6,574.39M	5,881.20M	2,427.50M	1,168.74M
Total Equity	22,821.06M	22,869.75M	22,869.75M	20,367.96M	19,703.01M	17,623.26M	14,965.34M	13,447.21M	10,256.81M	7,468.83M	6,574.39M	5,881.20M	2,427.50M	1,168.74M
Total Liabilities & Equity	85,716.62M	114,789.83M	114,789.83M	107,870.30M	39,670.98M	46,517.54M	33,813.88M	35,862.05M	43,757.98M	34,029.47M	26,867.78M	21,876.72M	14,774.75M	10,248.89M
Tangible Assets	85,041.65M	85,129.75M	85,129.75M	79,896.94M	76,689.35M	69,751.37M	61,382.50M	57,782.63M	47,288.25M	37,744.35M	28,966.64M	23,660.52M	16,388.44M	10,452.43M
Tangible Equity	22,146.09M	22,184.96M	22,184.96M	19,920.15M	19,521.59M	17,474.82M	14,836.82M	13,377.30M	10,115.46M	7,459.62M	6,574.39M	5,881.20M	2,427.50M	1,168.74M
Tangible Book Value	22,146.09M	22,184.96M	22,184.96M	19,920.15M	19,521.59M	17,474.82M	14,836.82M	13,377.30M	10,115.46M	7,459.62M	6,574.39M	5,881.20M	2,427.50M	1,168.74M
Total Investments	0.00M	1.28M	1.28M	777.65M	4,373.60M	2,905.17M	212.61M	201.51M	31.77M	-67.78M	64.92M	64.92M	20.96M	0.00M
Net Debt	27,796.22M	48,388.03M	48,388.03M	44,470.46M	43,216.11M	41,445.71M	37,059.29M	33,050.42M	29,996.25M	23,967.83M	18,316.16M	13,460.10M	10,512.20M	4,234.27M

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	4,457.6M	4,457.6M	621.7M	1,556.0M	1,147.5M	1,015.5M	2,100.1M	1,686.0M	1,454.2M	1,046.0M	1,644.1M	310.2M	217.2M
Total Capital	48,789.5M	75,358.4M	75,358.4M	69,533.6M	66,345.5M	62,145.8M	55,259.3M	51,499.0M	45,318.4M	36,462.4M	27,929.2M	23,045.5M	15,080.9M	5,722.0M
Capital Employed	85,716.6M	57,414.7M	57,414.7M	50,271.3M	75,747.4M	68,705.2M	60,489.9M	56,566.8M	46,769.5M	37,436.8M	28,738.2M	23,436.3M	16,241.9M	10,350.7M
Invested Capital	46,553.2M	72,979.1M	72,979.1M	66,684.6M	63,640.2M	59,803.7M	53,222.8M	48,113.1M	43,144.9M	34,712.5M	26,656.7M	21,179.8M	14,627.3M	5,403.0M

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
Net Income	4,337.13M	3,957.96M	2,103.96M	2,866.21M	1,961.42M	1,947.73M	1,747.14M	1,588.34M	1,352.17M	1,148.66M	872.31M	658.53M	456.64M	312.74M
Depreciation & Amortization	1,211.00M	848.09M	602.26M	508.67M	438.35M	319.46M	270.19M	139.91M	31.22M	27.92M	22.31M	15.28M	15.15M	16.34M
Deferred Income Tax	0.00M	56.84M	0.00M	0.00M	51.27M	46.51M	17.71M	0.00M	0.00M	0.00M	-9.95M	-19.69M	-4.94M	0.00M
Stock-Based Compensation	0.48M	3.93M	0.00M	1.06M	0.44M	5.80M	5.80M	0.00M	0.00M	0.00M	9.36M	19.21M	4.74M	0.00M
Change in Working Capital	2,670.68M	-9,715.87M	-3,073.92M	-948.81M	-3,768.17M	-6,127.85M	-4,499.33M	-31.82M	-6.40M	-10.53M	0.59M	0.48M	0.20M	-4,162.64M
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	76.40M	-65.27M	32.62M	47.57M	-56.22M	-52.31M	-23.51M	-31.82M	-6.40M	-10.53M	0.59M	0.48M	0.20M	0.45M
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	2,594.28M	-9,650.60M	-3,106.54M	-996.39M	-3,711.94M	-6,075.54M	-4,475.82M	0.00M	-9,109.29M	-7,709.86M	-5,084.11M	-5,335.48M	-5,084.23M	-4,163.10M
Other Non-Cash Items	3,730.26M	6,251.81M	1,506.02M	2,566.84M	3,373.88M	2,407.77M	1,486.76M	-3,520.33M	-7,105.63M	-6,238.20M	-3,286.22M	-5,145.89M	-4,587.45M	-285.85M
Net Cash from Operating Activities	11,949.55M	1,345.91M	1,138.31M	4,993.97M	2,057.20M	-1,400.57M	-971.72M	-1,823.91M	-5,728.65M	-5,072.15M	-2,381.65M	-4,452.39M	-4,110.72M	-4,119.42M
Capital Expenditures (PPE)	-2,160.37M	-1,218.24M	-1,255.07M	-896.83M	-608.09M	-385.07M	-401.39M	-208.24M	-17.64M	-18.89M	-20.20M	-28.90M	-0.74M	-0.58M
Acquisitions (Net)	-648.35M	441.23M	-239.15M	-489.55M	397.28M	41.02M	89.08M	14.95M	13.80M	-9.40M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	-264.00M	-112.83M	-537.60M	-82.58M	-8.25M	-152.27M	-88.77M	-440.50M	-43.96M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	0.00M	0.00M	591.32M	191.12M	231.85M	97.59M	99.64M	442.20M	26.89M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	683.46M	-333.17M	409.25M	0.07M	3.64M	-14.73M	0.77M	14.46M	72.16M	-61.88M	1.02M	0.89M	0.00M	0.00M
Net Cash from Investing Activities	-2,125.26M	-1,110.18M	-1,084.96M	-1,059.00M	-128.88M	-664.52M	-296.53M	-87.44M	358.26M	-90.17M	-459.69M	-71.97M	-0.74M	-0.58M
Net Debt Issuance	2,185.59M	10,851.14M	1,880.28M	341.19M	353.97M	4,019.91M	1,663.70M	2,798.41M	8,537.00M	5,859.39M	2,267.15M	4,483.02M	4,130.19M	4,201.22M
Long-Term Debt Issuance	2,185.59M	10,851.14M	1,880.28M	341.19M	353.97M	4,019.91M	1,663.70M	2,798.41M	8,537.00M	5,859.39M	2,267.15M	4,483.02M	4,130.19M	4,201.22M
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	0.00M	0.00M	0.00M	969.41M	0.00M	0.00M	0.00M	0.00M	0.00M	2,775.52M	804.61M	0.00M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	969.41M	0.00M	0.00M	0.00M	0.00M	0.00M	2,775.52M	804.61M	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	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	-1,208.61M	-1,172.44M	-604.47M	-592.00M	-580.46M	-482.98M	-454.12M	-407.21M	-336.79M	-254.45M	-188.48M	-8.26M	-77.94M	0.00M
Common Dividends Paid	-1,208.61M	-1,172.44M	-604.47M	-592.00M	-580.46M	-482.98M	-454.12M	-407.21M	-336.79M	-254.45M	-188.48M	-8.26M	-77.94M	0.00M
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
Other Financing Activities	-11,091.06M	-10,678.27M	-1,796.48M	-3,542.83M	-1,339.23M	-2,114.56M	-1,244.21M	630.65M	-2,427.86M	119.07M	96.54M	-1,450.69M	-608.96M	-60.34M
Net Cash from Financing Activities	-10,114.07M	-999.57M	-520.67M	-3,793.64M	-1,565.72M	2,391.78M	-34.63M	3,021.86M	5,772.35M	5,724.01M	2,175.21M	5,799.58M	4,247.90M	4,140.88M
Effect of FX on Cash	-20.59M	33.44M	-2.34M	2.30M	-25.25M	-21.14M	-46.45M	101.88M	21.63M	-84.26M	72.91M	136.88M	-1.88M	-9.86M
Net Change in Cash	2,546.40M	-702.05M	-469.67M	143.63M	337.35M	305.54M	-1,349.33M	1,212.39M	423.59M	477.43M	-593.21M	1,412.10M	134.57M	11.02M
Cash at Beginning of Period	4,657.69M	11,913.33M	2,848.97M	2,705.34M	2,342.08M	2,036.54M	3,385.87M	2,173.47M	1,749.88M	1,272.46M	1,865.67M	453.57M	319.00M	307.98M
Cash at End of Period	7,204.08M	11,211.29M	2,379.31M	2,848.97M	2,679.43M	2,342.08M	2,036.54M	3,385.87M	2,173.47M	1,749.88M	1,272.46M	1,865.67M	453.57M	319.00M
Operating Cash Flow	11,949.55M	1,345.91M	1,138.31M	4,993.97M	2,057.20M	-1,400.57M	-971.72M	-1,823.91M	-5,728.65M	-5,072.15M	-2,381.65M	-4,452.39M	-4,110.72M	-4,119.42M
Capital Expenditure	-2,160.37M	-1,218.24M	-1,255.07M	-896.83M	-608.09M	-385.07M	-401.39M	-208.24M	-17.64M	-18.89M	-20.20M	-28.90M	-0.74M	-0.58M
Free Cash Flow	9,789.17M	127.68M	-116.76M	4,097.13M	1,449.11M	-1,785.64M	-1,373.12M	-2,032.15M	-5,746.29M	-5,091.04M	-2,401.85M	-4,481.29M	-4,111.46M	-4,120.00M

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	26,726.55M	14,782.16M	3,418.06M	3,514.92M	3,025.31M	2,943.93M	2,535.28M	2,390.40M	1,989.19M	1,683.43M	1,210.57M	0.00M	0.00M	348.62M
(-) Tax Adjustment	6,072.27M	3,500.95M	762.81M	818.13M	689.97M	723.28M	590.78M	624.08M	543.97M	456.81M	334.91M	0.00M	0.00M	88.00M
(-) Change In Working Capital	2,670.68M	-9,715.87M	-3,073.92M	-948.81M	-3,768.17M	-6,127.85M	-4,499.33M	-31.82M	-6.40M	-10.53M	0.59M	0.48M	0.20M	-4,162.64M
(-) Capital Expenditure	-2,160.37M	-1,218.24M	-1,255.07M	-896.83M	-608.09M	-385.07M	-401.39M	-208.24M	-17.64M	-18.89M	-20.20M	-28.90M	-0.74M	-0.58M
Unlevered Free Cash Flow	15,823.24M	19,778.84M	4,474.10M	2,748.77M	5,495.41M	7,963.43M	6,042.43M	1,589.89M	1,433.98M	1,218.26M	854.87M	-29.38M	-0.94M	4,422.68M
(-) Net Interest Income After Taxes	0.00M	0.00M	3.73M	34.58M	29.83M	20.79M	9.97M	58.62M	32.06M	24.94M	6.16M	6.42M	1.85M	0.00M
Net Debt Issuance	2,185.59M	10,851.14M	1,880.28M	341.19M	353.97M	4,019.91M	1,663.70M	2,798.41M	8,537.00M	5,859.39M	2,267.15M	4,483.02M	4,130.19M	4,201.22M
Levered Free Cash Flow	18,008.82M	30,629.98M	6,350.65M	3,055.37M	5,819.55M	11,962.55M	7,696.16M	4,329.69M	9,938.92M	7,052.71M	3,115.85M	4,447.23M	4,127.39M	8,623.89M