Binhai Investment Company Limited (2886.HK)

Industry: Regulated Gas Sector: Utilities Currency Used: HK Live Price: $1.13

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Stock Price	1.19	1.57	1.57	1.56	1.17	1.41	1.43	1.72	2.11	3.35	4.45	4.33	4.20	3.95	6.65	5.85	6.40	6.40	6.40
Market Capitalization	1,628.53M	2,116.62M	2,122.68M	2,109.16M	1,423.09M	1,655.83M	1,673.83M	2,020.05M	2,477.92M	3,929.27M	5,220.94M	7,811.87M	4,896.98M	4,605.49M	3,865.74M	1,273.55M	1,393.28M	1,393.28M	1,393.28M
(-) Cash & Equivalents	523.12M	773.09M	817.87M	815.40M	449.51M	635.89M	1,121.40M	1,833.66M	446.40M	784.97M	483.74M	677.67M	421.21M	215.73M	193.45M	144.04M	53.38M	33.53M	18.35M
(+) Total Debt	3,630.55M	3,913.41M	3,719.87M	3,167.56M	2,583.62M	2,643.74M	2,938.17M	3,413.75M	1,973.61M	2,625.83M	1,747.23M	1,709.77M	264.88M	162.72M	10.00M	533.69M	697.50M	664.34M	626.45M
Enterprise Value	4,735.96M	5,256.94M	5,024.69M	4,461.32M	3,557.20M	3,663.68M	3,490.60M	3,600.14M	4,005.12M	5,770.13M	6,484.43M	8,843.97M	4,740.65M	4,552.48M	3,682.29M	1,663.19M	2,037.39M	2,024.09M	2,001.37M

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	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31
Revenue	12,416M	11,748M	6,198M	6,407M	6,103M	4,843M	3,654M	3,558M	3,308M	2,746M	2,145M	2,555M	2,543M	2,229M	1,206M	1,679M	1,231M	795M	621M	587M	426M	423M
Cost of Revenue	11,245M	10,381M	5,628M	5,658M	5,375M	3,987M	3,050M	3,033M	2,696M	2,173M	1,605M	2,012M	2,078M	1,770M	974M	1,417M	1,064M	668M	527M	530M	370M	351M
Gross Profit	1,172M	1,367M	569M	749M	727M	855M	603M	525M	612M	572M	540M	543M	465M	459M	232M	262M	167M	127M	94M	58M	56M	72M
Gross Profit Margin	9.4%	11.6%	9.2%	11.7%	11.9%	17.7%	16.5%	14.7%	18.5%	20.8%	25.2%	21.3%	18.3%	20.6%	19.3%	15.6%	13.6%	16.0%	15.2%	9.8%	13.2%	17.1%
R&D Expenses	274M	60M	113M	0M	42M	38M	28M	23M	68M	60M	36M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	302M	431M	215M	350M	284M	336M	162M	262M	211M	195M	156M	163M	162M	168M	104M	108M	126M	71M	70M	63M	86M	95M
Operating Expenses	427M	470M	153M	249M	239M	268M	78M	248M	198M	298M	154M	168M	154M	164M	232M	122M	61M	59M	70M	63M	86M	95M
Operating Income (EBIT)	744M	897M	416M	500M	488M	588M	525M	277M	414M	274M	386M	375M	311M	295M	0M	140M	106M	68M	24M	-6M	-30M	-22M
Operating Income Margin	6.0%	7.6%	6.7%	7.8%	8.0%	12.1%	14.4%	7.8%	12.5%	10.0%	18.0%	14.7%	12.2%	13.2%	0.0%	8.4%	8.6%	8.6%	3.9%	-1.0%	-7.0%	-5.3%
Interest Income	24M	51M	18M	7M	10M	4M	2M	2M	15M	6M	3M	8M	3M	10M	4M	13M	0M	226M	6M	0M	0M	0M
Interest Expense	340M	194M	139M	163M	117M	105M	105M	107M	145M	76M	66M	113M	135M	94M	33M	5M	12M	15M	65M	64M	59M	38M
Net Interest Income	-316M	-143M	-121M	-156M	-107M	-101M	-103M	-105M	-130M	-69M	-63M	-105M	-131M	-84M	-29M	9M	-12M	212M	-59M	-64M	-59M	-37M
Unusual Items	226M	25M	15M	11M	7M	8M	17M	11M	-102M	95M	-63M	28M	120M	2M	151M	4M	0M	1M	10M	28M	-4M	-47M
EBT Excluding Unusual Items	428M	754M	296M	344M	381M	487M	422M	172M	284M	204M	323M	270M	180M	212M	-29M	149M	94M	280M	-35M	-70M	-89M	-60M
Pre-Tax Income	654M	779M	310M	355M	388M	495M	439M	183M	182M	299M	261M	298M	300M	214M	122M	153M	94M	281M	-24M	-42M	-93M	-107M
Pre-Tax Margin	5.3%	6.6%	5.0%	5.5%	6.4%	10.2%	12.0%	5.1%	5.5%	10.9%	12.1%	11.7%	11.8%	9.6%	10.1%	9.1%	7.6%	35.3%	-3.9%	-7.2%	-21.9%	-25.3%
Income Tax Expense	195M	120M	101M	91M	56M	85M	78M	63M	75M	75M	83M	94M	81M	72M	29M	36M	21M	49M	15M	13M	5M	9M
Net Income	463M	661M	200M	257M	326M	400M	355M	120M	104M	221M	172M	199M	214M	136M	90M	114M	71M	230M	-40M	-50M	-98M	-116M
Net Income Margin	3.7%	5.6%	3.2%	4.0%	5.3%	8.3%	9.7%	3.4%	3.1%	8.1%	8.0%	7.8%	8.4%	6.1%	7.4%	6.8%	5.8%	28.9%	-6.5%	-8.5%	-23.0%	-27.3%
Depreciation & Amortization	426M	400M	202M	222M	201M	191M	173M	143M	105M	105M	82M	83M	73M	62M	38M	25M	16M	10M	14M	12M	13M	13M
EBITDA	1,171M	1,297M	618M	722M	689M	778M	698M	419M	518M	379M	468M	458M	385M	358M	38M	165M	123M	78M	38M	6M	-16M	-9M
EBITDA Margin	9.4%	11.0%	10.0%	11.3%	11.3%	16.1%	19.1%	11.8%	15.7%	13.8%	21.8%	17.9%	15.1%	16.0%	3.2%	9.9%	10.0%	9.8%	6.1%	1.0%	-3.8%	-2.2%
NOPAT	522M	759M	281M	372M	418M	487M	432M	181M	243M	205M	263M	256M	227M	195M	0M	107M	83M	56M	19M	-4M	-23M	-18M
NOPAT Margin	4.2%	6.5%	4.5%	5.8%	6.9%	10.0%	11.8%	5.1%	7.3%	7.5%	12.3%	10.0%	8.9%	8.8%	0.0%	6.4%	6.7%	7.1%	3.1%	-0.8%	-5.5%	-4.2%
Owner's Earnings	11M	-299M	23M	-107M	-109M	-121M	-342M	-374M	-478M	-138M	-61M	-145M	-99M	-148M	-310M	-288M	-195M	182M	-76M	-71M	-146M	-190M
Owner's Earnings Margin	0.1%	-2.5%	0.4%	-1.7%	-1.8%	-2.5%	-9.4%	-10.5%	-14.5%	-5.0%	-2.8%	-5.7%	-3.9%	-6.6%	-25.7%	-17.1%	-15.9%	22.9%	-12.3%	-12.1%	-34.2%	-45.0%
EPS (Basic)	0.34	0.48	0.15	0.19	0.24	0.30	0.29	0.10	0.09	0.19	0.15	0.17	0.18	0.12	0.08	0.10	0.06	0.22	-0.19	-0.23	-0.45	-0.53
EPS (Diluted)	0.34	0.49	0.15	0.19	0.24	0.29	0.29	0.10	0.09	0.19	0.15	0.16	0.17	0.11	0.08	0.10	0.06	0.22	-0.19	-0.23	-0.45	-0.53
Shares (Basic)	1,367M	1,352M	1,369M	1,352M	1,352M	1,352M	1,222M	1,174M	1,174M	1,174M	1,174M	1,174M	1,173M	1,166M	1,166M	1,166M	1,166M	1,038M	218M	218M	218M	218M
Shares (Diluted)	1,367M	1,356M	1,369M	1,356M	1,356M	1,356M	1,222M	1,174M	1,174M	1,174M	1,174M	1,251M	1,250M	1,200M	1,166M	1,166M	1,166M	1,038M	218M	218M	218M	218M

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	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31
Cash & Cash Equivalents	325.77M	384.05M	384.05M	808.36M	845.25M	742.18M	407.74M	700.00M	987.58M	3,260.66M	323.36M	331.18M	463.24M	685.09M	818.23M	445.40M	431.47M	386.89M	63.10M	50.15M	27.99M	15.14M
Short-Term Investments	35.00M	0.96M	0.96M	127.04M	0.00M	0.00M	182.03M	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
Cash & Short-Term Investments	360.77M	385.00M	385.00M	935.40M	845.25M	742.18M	589.77M	700.00M	987.58M	3,260.66M	323.36M	331.18M	463.24M	685.09M	818.23M	445.40M	431.47M	386.89M	63.10M	50.15M	27.99M	15.14M
Net Receivables	379.72M	298.09M	298.09M	313.36M	356.75M	382.57M	361.83M	398.00M	-7.54M	602.64M	498.86M	438.50M	461.55M	482.49M	214.22M	279.07M	159.97M	89.85M	85.04M	0.00M	0.00M	0.00M
Inventory	104.48M	97.27M	97.27M	107.86M	138.85M	144.31M	146.59M	116.62M	90.72M	86.05M	44.12M	52.67M	53.72M	49.34M	70.98M	48.46M	38.09M	29.99M	28.23M	34.23M	31.78M	22.21M
Other Current Assets	20.20M	32.95M	32.95M	85.60M	29.80M	12.24M	15.96M	187.13M	565.56M	11.12M	135.12M	149.74M	626.73M	598.34M	324.80M	176.07M	2.82M	0.00M	135.43M	0.00M	7.00M	7.00M
Total Current Assets	865.17M	813.31M	813.31M	1,442.22M	1,370.65M	1,281.30M	1,114.15M	1,401.75M	1,636.31M	3,960.46M	1,001.47M	972.08M	1,605.23M	1,815.27M	1,428.23M	949.00M	632.34M	506.73M	311.79M	84.37M	66.77M	44.35M
Property, Plant & Equipment	6,500.35M	6,174.97M	6,174.97M	6,201.99M	5,845.40M	5,910.90M	5,262.07M	4,494.88M	3,861.00M	3,463.53M	2,833.96M	2,732.29M	2,583.65M	2,250.55M	1,792.70M	1,545.27M	645.29M	238.35M	205.31M	258.62M	231.31M	187.27M
Goodwill	0.00M	0.00M	0.00M	23.85M	0.00M	0.00M	13.75M	12.89M	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
Intangible Assets	67.82M	68.28M	68.28M	48.28M	260.19M	226.49M	193.53M	38.53M	171.29M	154.52M	79.08M	45.25M	50.29M	48.10M	48.39M	44.63M	41.63M	34.61M	36.87M	53.72M	49.73M	45.88M
Long-Term Investments	327.28M	321.80M	321.80M	320.39M	228.17M	265.56M	-107.24M	82.19M	77.72M	76.09M	54.05M	55.49M	56.51M	45.78M	19.68M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	26.62M	0.00M	0.00M	33.39M	33.73M	46.55M	24.22M	22.58M	8.31M	5.38M	5.17M	-55.49M	-56.51M	8.92M	8.68M	5.44M	6.42M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	19.24M	63.43M	63.43M	68.46M	267.39M	29.47M	354.43M	34.21M	74.62M	25.52M	7.70M	107.68M	98.60M	0.00M	0.00M	14.45M	13.89M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Assets	0.00M	0.00M	0.00M	19.02M	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	6,941.31M	6,628.48M	6,628.48M	6,715.37M	6,634.87M	6,478.96M	5,740.76M	4,685.27M	4,192.94M	3,725.04M	2,979.96M	2,885.22M	2,732.54M	2,353.35M	1,869.45M	1,609.78M	707.23M	272.97M	242.18M	312.33M	281.03M	233.15M
Total Assets	7,806.47M	7,441.79M	7,441.79M	8,157.59M	8,005.52M	7,760.26M	6,854.91M	6,087.02M	5,829.25M	7,685.50M	3,981.43M	3,857.30M	4,337.77M	4,168.62M	3,297.67M	2,558.78M	1,339.57M	779.70M	553.97M	396.71M	347.80M	277.50M
Accounts Payable	661.49M	647.31M	647.31M	663.23M	645.76M	1,494.08M	1,575.94M	587.22M	637.29M	487.13M	303.50M	279.66M	312.10M	340.37M	250.55M	210.30M	594.13M	357.46M	696.62M	607.40M	444.49M	306.12M
Short-Term Debt	1,856.96M	1,071.35M	1,071.35M	1,846.24M	1,575.87M	885.77M	1,308.51M	2,512.22M	307.28M	2,120.31M	68.04M	260.90M	957.24M	265.01M	593.90M	530.86M	297.63M	5.00M	704.92M	695.02M	654.12M	617.23M
Tax Payables	47.54M	67.05M	67.05M	58.12M	31.78M	44.23M	28.24M	54.95M	61.87M	64.36M	44.04M	48.97M	55.86M	58.56M	43.60M	51.93M	41.01M	45.84M	8.58M	4.93M	4.93M	7.27M
Deferred Revenue	0.00M	0.00M	0.00M	821.63M	887.36M	965.39M	912.39M	733.55M	543.53M	403.99M	235.10M	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	459.60M	1,298.94M	1,298.94M	645.08M	632.97M	0.00M	0.00M	68.26M	603.09M	596.98M	442.01M	664.31M	641.35M	665.26M	534.40M	79.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Liabilities	3,025.60M	3,084.66M	3,084.66M	4,034.30M	3,773.73M	3,389.45M	3,825.08M	3,956.19M	2,153.06M	3,672.77M	1,092.68M	1,253.83M	1,966.54M	1,329.20M	1,422.45M	873.03M	932.76M	408.30M	1,410.11M	1,307.36M	1,103.54M	930.61M
Long-Term Debt	1,849.47M	2,258.17M	2,258.17M	2,059.39M	2,328.39M	2,238.98M	1,055.50M	28.00M	2,443.69M	2,704.77M	1,721.70M	1,533.41M	846.63M	1,496.83M	1,062.50M	263.77M	10.00M	49.25M	0.00M	0.00M	0.00M	0.00M
Capital Lease Obligations	10.20M	12.34M	12.34M	13.56M	27.58M	20.86M	16.77M	22.21M	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	7.05M	12.26M	12.26M	9.64M	0.00M	34.70M	21.70M	10.00M	-53.43M	-34.63M	-33.34M	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	149.67M	157.53M	0.00M	0.11M	10.91M	28.38M	64.44M	0.00M	0.00M	0.00M	0.00M	0.00M	91.94M	149.21M	24.34M	11.61M	17.81M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Liabilities	2,016.39M	2,440.30M	2,282.77M	2,082.70M	2,366.89M	2,322.93M	1,158.41M	60.22M	2,390.26M	2,670.14M	1,688.36M	1,533.41M	938.57M	1,646.04M	1,086.83M	275.38M	27.81M	49.25M	0.00M	0.00M	0.00M	0.00M
Total Liabilities	5,041.98M	5,524.96M	5,367.43M	6,116.99M	6,140.61M	5,712.38M	4,983.48M	4,016.41M	4,543.32M	6,342.91M	2,781.05M	2,787.24M	2,905.11M	2,975.23M	2,509.29M	1,148.41M	960.57M	457.55M	1,410.11M	1,307.36M	1,103.54M	930.61M
Preferred Stock	119.97M	144.00M	144.00M	195.00M	242.00M	302.00M	352.00M	372.00M	398.00M	430.00M	430.00M	430.00M	430.00M	430.00M	430.00M	600.00M	600.00M	600.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	138.33M	138.33M	138.33M	135.30M	135.20M	135.20M	135.20M	117.44M	117.44M	117.44M	117.44M	117.44M	164.44M	229.96M	229.93M	59.93M	59.93M	59.93M	21.77M	21.77M	21.77M	21.77M
Retained Earnings	2,088.51M	2,020.12M	2,020.12M	1,932.27M	1,739.03M	1,583.55M	1,232.11M	895.13M	823.01M	816.70M	681.53M	586.40M	428.41M	243.14M	-503.47M	-592.24M	-703.48M	-779.62M	-1,009.73M	-969.28M	-919.35M	-821.22M
Accumulated OCI	-43.80M	0.00M	-110.08M	-30.72M	-70.56M	56.30M	-59.60M	-176.18M	-699.01M	-634.21M	-472.13M	-463.86M	-419.31M	-210.18M	0.00M	0.00M	-303.37M	-322.35M	-331.20M	-354.08M	-304.79M	-300.71M
Minority Interest	71.35M	82.41M	82.41M	87.16M	65.02M	70.44M	57.95M	46.97M	29.88M	33.23M	35.18M	32.38M	29.16M	24.43M	18.29M	14.98M	12.01M	9.83M	8.29M	7.15M	11.60M	10.82M
Total Shareholders’ Equity	2,303.00M	2,302.45M	2,192.37M	2,231.85M	2,045.67M	2,077.05M	1,659.71M	1,208.38M	639.44M	729.92M	756.84M	669.97M	603.55M	692.91M	156.46M	67.69M	-346.92M	-442.04M	-1,319.16M	-1,301.59M	-1,202.38M	-1,100.15M
Total Equity	2,374.36M	2,384.86M	2,274.77M	2,319.02M	2,110.68M	2,147.48M	1,717.66M	1,255.35M	669.32M	763.16M	792.02M	702.36M	632.71M	717.34M	174.75M	82.67M	-334.91M	-432.20M	-1,310.87M	-1,294.45M	-1,190.78M	-1,089.33M
Total Liabilities & Equity	7,416.34M	7,909.81M	7,642.20M	8,436.01M	8,251.30M	7,859.86M	6,701.14M	5,271.76M	5,212.64M	7,106.07M	3,573.06M	3,489.59M	3,537.82M	3,692.58M	2,684.04M	1,231.08M	625.66M	25.34M	99.24M	12.91M	-87.24M	-158.73M
Tangible Assets	7,738.66M	7,373.51M	7,373.51M	8,085.47M	7,745.33M	7,533.78M	6,647.64M	6,035.60M	5,657.96M	7,530.97M	3,902.35M	3,812.05M	4,287.48M	4,120.52M	3,249.28M	2,514.15M	1,297.94M	745.09M	517.10M	342.99M	298.08M	231.62M
Tangible Equity	2,306.54M	2,316.58M	2,206.50M	2,246.90M	1,850.49M	1,921.00M	1,510.39M	1,203.93M	498.02M	608.63M	712.94M	657.11M	582.43M	669.25M	126.36M	38.04M	-376.54M	-466.82M	-1,347.74M	-1,348.16M	-1,240.51M	-1,135.21M
Tangible Book Value	2,306.54M	2,316.58M	2,206.50M	2,246.90M	1,850.49M	1,921.00M	1,510.39M	1,203.93M	498.02M	608.63M	712.94M	657.11M	582.43M	669.25M	126.36M	38.04M	-376.54M	-466.82M	-1,347.74M	-1,348.16M	-1,240.51M	-1,135.21M
Total Investments	362.28M	321.80M	321.80M	447.42M	228.17M	265.56M	74.79M	82.19M	77.72M	76.09M	54.05M	55.49M	56.51M	45.78M	19.68M	14.45M	13.89M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt	3,380.67M	2,945.48M	2,945.48M	3,097.27M	3,059.01M	2,382.57M	1,956.26M	1,840.23M	1,763.39M	1,564.42M	1,466.38M	1,463.12M	1,340.64M	1,076.75M	838.16M	349.22M	-123.84M	-332.64M	641.83M	644.88M	626.12M	602.09M

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	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31
Working Capital	-2,536.9M	-1,901.4M	-1,901.4M	-2,176.5M	-1,853.2M	-1,699.6M	-2,479.5M	-3,220.3M	-331.0M	476.2M	-3.1M	-172.8M	-710.5M	164.8M	-71.6M	-705.0M	-185.9M	152.4M	-1,081.0M	-1,141.0M	-966.4M	-805.5M
Total Capital	6,045.7M	5,563.6M	5,563.6M	6,152.6M	6,152.8M	5,398.0M	4,322.6M	3,875.5M	4,051.8M	6,253.7M	2,976.4M	2,941.0M	2,858.2M	2,609.5M	2,349.1M	1,409.0M	806.9M	386.3M	-189.9M	-140.8M	-42.8M	34.0M
Capital Employed	4,404.4M	4,727.1M	4,727.1M	4,538.8M	4,781.7M	4,779.3M	3,261.3M	1,465.0M	3,862.0M	4,201.2M	2,976.9M	2,712.4M	2,022.0M	2,518.1M	1,797.8M	904.7M	521.3M	425.3M	-838.8M	-828.7M	-685.3M	-572.4M
Invested Capital	5,720.0M	5,179.6M	5,179.6M	5,344.2M	5,307.6M	4,655.8M	3,914.9M	3,175.5M	3,064.2M	2,993.0M	2,653.1M	2,609.8M	2,394.9M	1,924.4M	1,530.9M	963.6M	375.4M	-0.6M	-253.0M	-190.9M	-70.8M	18.9M

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	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31
Net Income	462.77M	660.81M	310.36M	256.61M	325.83M	495.29M	354.90M	182.69M	181.79M	299.16M	260.63M	297.88M	299.71M	213.53M	121.93M	148.32M	93.65M	280.70M	-24.35M	-42.29M	-93.15M	-106.91M
Depreciation & Amortization	331.36M	400.70M	220.75M	221.74M	201.55M	190.79M	172.94M	142.77M	112.01M	106.89M	84.20M	82.54M	73.31M	62.44M	38.37M	23.24M	16.41M	9.83M	14.14M	11.51M	13.45M	12.95M
Deferred Income Tax	0.00M	0.00M	0.00M	0.00M	0.00M	-80.59M	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
Stock-Based Compensation	5.09M	4.55M	4.93M	5.09M	2.70M	3.69M	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
Change in Working Capital	292.57M	-342.11M	26.82M	121.99M	-127.81M	-214.30M	35.95M	324.87M	329.51M	80.60M	44.59M	88.19M	-69.98M	-128.96M	5.95M	-79.66M	-31.82M	12.63M	28.46M	1.75M	15.92M	-14.46M
Accounts Receivable	-22.15M	26.96M	39.61M	-64.70M	51.06M	-48.68M	176.03M	138.62M	-108.55M	-257.45M	-59.08M	-0.53M	-62.66M	-221.86M	-100.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	31.07M	-2.33M	3.49M	27.58M	-5.61M	6.56M	-21.49M	-28.15M	-4.67M	-41.93M	8.55M	1.05M	-4.37M	21.63M	-12.58M	-10.37M	-8.10M	-3.58M	-2.40M	-2.45M	-9.57M	-4.90M
Accounts Payable	81.85M	0.00M	-27.70M	81.85M	0.00M	-27.85M	0.00M	10.59M	-65.23M	379.59M	95.13M	88.16M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Working Capital	201.80M	-258.35M	11.41M	77.27M	-173.26M	-144.33M	-118.58M	203.82M	334.18M	122.52M	36.05M	87.14M	-65.61M	-150.59M	18.53M	0.00M	-23.72M	16.21M	30.86M	4.20M	25.49M	-9.56M
Other Non-Cash Items	-27.12M	352.24M	32.15M	226.94M	-52.02M	91.28M	208.50M	57.95M	157.12M	34.45M	52.33M	-9.08M	-55.96M	45.22M	-25.13M	-9.50M	-38.95M	-232.79M	37.30M	42.10M	71.22M	79.17M
Net Cash from Operating Activities	1,064.67M	676.04M	594.99M	832.39M	350.25M	486.15M	772.30M	708.28M	780.43M	521.09M	441.74M	459.53M	247.08M	192.23M	141.12M	71.16M	39.29M	70.37M	55.56M	13.06M	7.43M	-29.25M
Capital Expenditures (PPE)	-741.09M	-1,360.55M	-378.75M	-567.85M	-635.84M	-710.93M	-869.38M	-635.83M	-686.73M	-464.80M	-314.81M	-426.44M	-386.16M	-346.17M	-437.79M	-426.99M	-283.08M	-57.44M	-49.92M	-32.63M	-61.06M	-87.91M
Acquisitions (Net)	49.70M	-8.78M	0.00M	22.41M	0.00M	9.43M	0.00M	-37.98M	27.02M	2.04M	-31.04M	53.74M	-11.38M	-25.22M	-88.07M	0.00M	-14.24M	82.00M	0.00M	0.00M	0.00M	0.97M
Purchases of Investments	-30.72M	-46.55M	-20.13M	-53.20M	0.00M	-9.43M	0.00M	-1,982.77M	-873.07M	0.00M	-250.35M	-4,888.42M	-6.99M	-55.25M	-9.56M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	125.52M	192.01M	124.87M	0.00M	0.00M	192.01M	0.00M	2,311.75M	882.96M	0.00M	250.79M	4,898.85M	23.87M	-14.68M	-9.93M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	-262.12M	-101.03M	60.61M	11.79M	-166.58M	-94.47M	-102.97M	25.95M	30.67M	6.54M	79.69M	8.97M	-8.79M	24.77M	-24.80M	-49.45M	8.93M	-3.27M	0.51M	3.06M	4.38M	4.82M
Net Cash from Investing Activities	-858.72M	-1,324.89M	-213.40M	-586.86M	-802.42M	-613.39M	-972.35M	-318.88M	-619.14M	-458.26M	-265.72M	-353.30M	-389.46M	-416.55M	-570.14M	-460.30M	-288.39M	21.30M	-49.42M	-29.58M	-56.68M	-82.12M
Net Debt Issuance	-271.49M	549.09M	-495.40M	60.47M	939.71M	710.59M	-204.67M	-146.98M	-2,114.45M	2,978.38M	-23.24M	-22.20M	43.26M	160.12M	818.29M	464.37M	287.63M	-486.79M	0.00M	0.00M	22.32M	48.40M
Long-Term Debt Issuance	275.64M	549.09M	-495.40M	60.47M	939.71M	710.59M	-204.67M	-146.98M	-2,114.45M	2,978.38M	-23.24M	-22.20M	43.26M	160.12M	818.29M	464.37M	287.63M	-486.79M	0.00M	0.00M	22.32M	48.40M
Short-Term Debt Issuance	-547.13M	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	0.00M	0.00M	0.00M
Net Stock Issuance	-60.06M	-47.00M	-58.27M	-45.37M	-60.00M	-50.00M	216.31M	-26.00M	-32.00M	0.00M	0.00M	-27.61M	0.00M	0.00M	0.00M	0.00M	0.00M	831.82M	0.00M	0.00M	0.00M	0.00M
Common Stock Issuance	1.63M	7.81M	0.00M	1.63M	0.00M	0.00M	236.31M	-31.70M	0.00M	0.00M	0.00M	-27.61M	0.00M	0.00M	0.00M	0.00M	0.00M	831.82M	0.00M	0.00M	0.00M	0.00M
Common Stock Repurchased	-61.69M	-47.00M	-7.27M	-47.00M	-60.00M	-50.00M	-20.00M	-26.00M	-32.00M	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	-47.00M	0.00M	-51.00M	-47.00M	0.00M	-50.00M	0.00M	-26.00M	-32.00M	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	-169.13M	-256.88M	-64.70M	-135.20M	-121.68M	-106.81M	-41.10M	-52.85M	-64.59M	-58.72M	-58.72M	-42.75M	-30.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Dividends Paid	-169.13M	-256.88M	-64.70M	-135.20M	-121.68M	-106.81M	-41.10M	-52.85M	-64.59M	-58.72M	-58.72M	-42.75M	-30.38M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-121.49M	206.94M	-162.24M	-132.45M	-140.89M	-108.96M	-83.95M	-126.07M	-171.56M	-90.01M	-84.49M	-134.58M	-122.04M	-74.50M	-34.90M	-62.59M	-2.33M	-117.51M	11.33M	37.00M	38.69M	18.48M
Net Cash from Financing Activities	-622.16M	452.15M	-780.61M	-252.55M	617.14M	444.82M	-113.41M	-351.90M	-2,382.59M	2,829.65M	-166.44M	-227.13M	-70.42M	85.62M	783.40M	401.78M	285.30M	227.51M	11.33M	37.00M	61.01M	66.88M
Effect of FX on Cash	-2.61M	-69.10M	-25.31M	-29.86M	-61.90M	16.85M	21.20M	-7.02M	-51.77M	44.81M	-17.40M	-11.15M	-9.06M	5.55M	3.03M	1.30M	8.38M	4.62M	0.76M	1.66M	1.09M	0.87M
Net Change in Cash	-416.05M	-391.19M	-424.32M	-36.89M	103.07M	334.44M	-292.26M	30.48M	-2,273.08M	2,937.30M	-7.82M	-132.05M	-221.85M	-133.15M	357.41M	13.94M	44.58M	323.80M	12.95M	22.15M	12.86M	-43.62M
Cash at Beginning of Period	2,699.85M	2,698.11M	808.36M	845.25M	742.18M	407.74M	700.00M	669.52M	3,260.66M	323.36M	331.18M	463.24M	685.09M	818.23M	460.82M	431.47M	386.89M	63.10M	50.15M	27.99M	15.14M	58.76M
Cash at End of Period	2,180.37M	2,306.92M	384.05M	808.36M	845.25M	742.18M	407.74M	700.00M	987.58M	3,260.66M	323.36M	331.18M	463.24M	685.09M	818.23M	445.40M	431.47M	386.89M	63.10M	50.15M	27.99M	15.14M
Operating Cash Flow	1,192.08M	676.04M	594.99M	832.39M	350.25M	486.15M	772.30M	708.28M	780.43M	521.09M	441.74M	459.53M	247.08M	192.23M	141.12M	71.16M	39.29M	70.37M	55.56M	13.06M	7.43M	-29.25M
Capital Expenditure	-878.08M	-1,360.55M	-378.75M	-585.51M	-635.84M	-710.93M	-869.38M	-635.83M	-686.73M	-464.80M	-314.81M	-426.44M	-386.16M	-346.17M	-437.79M	-426.99M	-283.08M	-57.44M	-49.92M	-32.63M	-61.06M	-87.91M
Free Cash Flow	313.99M	-684.51M	216.24M	246.87M	-285.59M	-224.78M	-97.08M	72.45M	93.71M	56.30M	126.93M	33.08M	-139.08M	-153.93M	-296.67M	-355.83M	-243.79M	12.93M	5.63M	-19.57M	-53.63M	-117.16M

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	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31
EBITDA	1,022.15M	1,276.03M	443.64M	620.30M	602.52M	671.98M	586.38M	382.04M	437.56M	422.33M	430.18M	463.15M	375.97M	354.23M	166.58M	179.31M	57.75M	65.93M	38.22M	5.92M	-16.24M	-9.42M
(-) Tax Adjustment	305.03M	196.70M	144.51M	159.63M	86.33M	115.68M	104.58M	131.88M	153.15M	106.27M	137.04M	146.61M	101.29M	119.89M	40.25M	42.53M	12.66M	11.49M	0.00M	0.00M	0.00M	0.00M
(-) Change In Working Capital	292.57M	-342.11M	26.82M	121.99M	-127.81M	-214.30M	35.95M	324.87M	329.51M	80.60M	44.59M	88.19M	-69.98M	-128.96M	5.95M	-79.66M	-31.82M	12.63M	28.46M	1.75M	15.92M	-14.46M
(-) Capital Expenditure	-878.08M	-1,360.55M	-378.75M	-585.51M	-635.84M	-710.93M	-869.38M	-635.83M	-686.73M	-464.80M	-314.81M	-426.44M	-386.16M	-346.17M	-437.79M	-426.99M	-283.08M	-57.44M	-49.92M	-32.63M	-61.06M	-87.91M
Unlevered Free Cash Flow	-453.53M	60.90M	-106.44M	-246.83M	8.16M	59.67M	-423.53M	-710.55M	-731.83M	-229.33M	-66.26M	-198.09M	-41.50M	17.13M	-317.41M	-210.55M	-206.16M	-15.63M	-40.17M	-28.46M	-93.22M	-82.87M
(-) Net Interest Income After Taxes	-221.86M	-120.89M	-81.38M	-116.15M	-91.30M	-83.51M	-84.81M	-68.77M	-84.23M	-51.95M	-42.85M	-72.07M	-95.88M	-55.25M	-21.73M	6.62M	-9.66M	174.85M	-58.75M	-64.21M	-59.30M	-37.24M
Net Debt Issuance	-271.49M	549.09M	-495.40M	60.47M	939.71M	710.59M	-204.67M	-146.98M	-2,114.45M	2,978.38M	-23.24M	-22.20M	43.26M	160.12M	818.29M	464.37M	287.63M	-486.79M	0.00M	0.00M	22.32M	48.40M
Levered Free Cash Flow	-503.15M	730.88M	-520.46M	-70.20M	1,039.17M	853.78M	-543.38M	-788.76M	-2,762.04M	2,800.99M	-46.65M	-148.22M	97.63M	232.50M	522.61M	247.20M	91.12M	-677.28M	18.58M	35.75M	-11.60M	2.76M