Far East Horizon Limited (3360.HK)

Industry: Financial - Credit Services Sector: Financial Services Currency Used: HK Live Price: $7.34

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Stock Price	5.03	5.65	5.51	6.20	6.36	6.76	6.68	5.88	5.55	5.97	5.32	4.52	4.74	6.15	0.03	0.03
Market Capitalization	23,793.66M	26,566.32M	25,429.98M	27,339.07M	25,093.95M	25,846.16M	25,625.70M	22,506.67M	21,534.45M	21,274.41M	17,568.52M	14,894.23M	15,058.23M	16,048.11M	49.06M	33.53M
(-) Cash & Equivalents	26,613.48M	20,475.78M	15,405.78M	14,519.07M	9,925.01M	4,248.56M	6,136.88M	2,802.81M	1,335.74M	2,776.89M	2,505.92M	2,302.81M	2,030.80M	5,247.08M	176.96M	123.91M
(+) Total Debt	265,904.75M	262,661.76M	257,115.80M	231,702.78M	198,029.92M	164,340.01M	177,259.61M	137,699.75M	99,981.35M	79,590.20M	68,841.39M	51,611.02M	34,194.34M	27,011.05M	8,522.71M	2,838.83M
Enterprise Value	263,084.93M	268,752.30M	267,140.00M	244,522.78M	213,198.86M	185,937.61M	196,748.44M	157,403.61M	120,180.07M	98,087.71M	83,903.99M	64,202.44M	47,221.77M	37,812.08M	8,394.81M	2,748.45M

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	2009-12-31
Revenue	73,721M	68,225M	37,749M	36,573M	34,077M	31,681M	29,042M	26,856M	25,379M	18,782M	13,928M	11,796M	10,061M	7,908M	6,433M	4,587M	2,168M	1,443M
Cost of Revenue	21,947M	0M	21,947M	19,610M	18,128M	16,431M	14,076M	12,525M	11,484M	8,107M	5,736M	4,772M	4,107M	2,890M	2,885M	2,153M	782M	509M
Gross Profit	51,773M	68,225M	15,802M	16,963M	15,949M	15,249M	14,966M	14,331M	13,895M	10,675M	8,193M	7,024M	5,954M	5,018M	3,549M	2,434M	1,387M	934M
Gross Profit Margin	70.2%	100.0%	41.9%	46.4%	46.8%	48.1%	51.5%	53.4%	54.7%	56.8%	58.8%	59.5%	59.2%	63.5%	55.2%	53.1%	63.9%	64.7%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	16,850M	15,727M	8,339M	8,144M	7,269M	7,878M	6,212M	5,596M	5,336M	5,864M	4,134M	3,378M	3,016M	2,419M	1,554M	1,044M	545M	337M
Operating Expenses	16,699M	47,110M	8,077M	8,144M	7,255M	7,736M	6,138M	5,531M	5,310M	5,845M	4,082M	3,059M	2,604M	2,342M	1,554M	996M	502M	324M
Operating Income (EBIT)	35,074M	21,115M	7,725M	8,819M	8,694M	7,513M	8,827M	8,800M	8,585M	4,830M	4,111M	3,965M	3,350M	2,676M	1,995M	1,438M	884M	610M
Operating Income Margin	47.6%	30.9%	20.5%	24.1%	25.5%	23.7%	30.4%	32.8%	33.8%	25.7%	29.5%	33.6%	33.3%	33.8%	31.0%	31.4%	40.8%	42.3%
Interest Income	263M	0M	263M	558M	1,058M	1,377M	1,271M	674M	394M	347M	123M	56M	52M	35M	48M	0M	0M	0M
Interest Expense	0M	0M	0M	0M	1,055M	37M	617M	461M	460M	225M	158M	122M	15M	1M	2M	1M	0M	0M
Net Interest Income	263M	0M	263M	558M	3M	1,340M	654M	213M	-66M	122M	-35M	-66M	37M	33M	46M	-1M	0M	0M
Unusual Items	-17,869M	0M	33M	1,049M	1,622M	1,159M	-1,973M	-1,869M	-2,027M	-165M	-4M	-320M	-176M	-109M	18M	1M	0M	0M
EBT Excluding Unusual Items	35,337M	21,115M	7,988M	9,377M	8,697M	8,854M	9,481M	9,014M	8,519M	4,953M	4,076M	3,899M	3,387M	2,710M	2,041M	1,437M	884M	610M
Pre-Tax Income	17,468M	21,115M	8,021M	10,425M	10,319M	10,013M	7,508M	7,145M	6,493M	4,787M	4,072M	3,580M	3,211M	2,601M	2,059M	1,438M	884M	610M
Pre-Tax Margin	23.7%	30.9%	21.2%	28.5%	30.3%	31.6%	25.9%	26.6%	25.6%	25.5%	29.2%	30.3%	31.9%	32.9%	32.0%	31.4%	40.8%	42.3%
Income Tax Expense	7,333M	7,689M	3,502M	3,508M	3,716M	3,785M	2,475M	2,317M	2,104M	1,378M	1,131M	1,000M	869M	685M	554M	360M	198M	139M
Net Income	9,222M	12,139M	3,895M	6,300M	6,379M	5,896M	5,031M	4,849M	4,430M	3,460M	2,960M	2,576M	2,332M	1,913M	1,506M	1,077M	688M	472M
Net Income Margin	12.5%	17.8%	10.3%	17.2%	18.7%	18.6%	17.3%	18.1%	17.5%	18.4%	21.3%	21.8%	23.2%	24.2%	23.4%	23.5%	31.7%	32.7%
Depreciation & Amortization	10,296M	-16,026M	3,579M	2,964M	3,077M	2,302M	1,855M	1,361M	957M	545M	407M	276M	193M	114M	59M	28M	12M	5M
EBITDA	45,371M	5,088M	11,304M	11,782M	11,771M	9,816M	10,682M	10,161M	9,542M	5,375M	4,519M	4,241M	3,543M	2,790M	2,054M	1,466M	896M	616M
EBITDA Margin	61.5%	7.5%	29.9%	32.2%	34.5%	31.0%	36.8%	37.8%	37.6%	28.6%	32.4%	36.0%	35.2%	35.3%	31.9%	32.0%	41.3%	42.7%
NOPAT	20,351M	13,426M	4,352M	5,851M	5,563M	4,673M	5,918M	5,947M	5,802M	3,440M	2,970M	2,858M	2,443M	1,972M	1,458M	1,079M	686M	472M
NOPAT Margin	27.6%	19.7%	11.5%	16.0%	16.3%	14.8%	20.4%	22.1%	22.9%	18.3%	21.3%	24.2%	24.3%	24.9%	22.7%	23.5%	31.6%	32.7%
Owner's Earnings	8,743M	-14,269M	-938M	6,704M	5,498M	-2,260M	-287M	2,914M	1,702M	1,481M	1,483M	975M	1,599M	275M	1,508M	1,017M	665M	469M
Owner's Earnings Margin	11.9%	-20.9%	-2.5%	18.3%	16.1%	-7.1%	-1.0%	10.9%	6.7%	7.9%	10.6%	8.3%	15.9%	3.5%	23.4%	22.2%	30.7%	32.5%
EPS (Basic)	2.02	2.62	0.84	1.47	1.46	1.36	1.20	1.27	1.15	0.84	0.74	0.70	0.70	0.58	0.48	0.41	0.36	0.25
EPS (Diluted)	1.94	2.57	0.82	1.32	1.35	1.30	1.27	1.27	1.15	0.90	0.76	0.72	0.71	0.58	0.47	0.41	0.36	0.25
Shares (Basic)	4,705M	4,620M	4,735M	4,752M	4,623M	4,427M	3,813M	3,807M	3,838M	3,827M	3,880M	3,562M	3,287M	3,292M	3,178M	2,611M	1,904M	1,904M
Shares (Diluted)	4,748M	4,726M	4,737M	4,777M	4,726M	4,522M	3,973M	3,814M	3,842M	3,828M	3,880M	3,562M	3,287M	3,292M	3,178M	2,611M	1,904M	1,904M

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	2009-12-31
Cash & Cash Equivalents	18,293.92M	30,281.37M	30,281.37M	19,966.61M	17,059.09M	15,659.04M	11,877.24M	3,989.57M	5,269.39M	2,815.54M	2,051.31M	2,500.67M	3,317.85M	2,673.48M	1,492.25M	4,156.68M	353.93M	371.74M
Short-Term Investments	3,007.04M	3,921.20M	3,921.20M	2,108.08M	2,615.87M	3,969.18M	3,274.03M	312.60M	446.98M	1,412.89M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	21,300.96M	34,202.57M	34,202.57M	22,074.70M	19,674.96M	19,628.22M	15,151.26M	4,302.17M	5,716.37M	4,228.43M	2,051.31M	2,500.67M	3,317.85M	2,673.48M	1,492.25M	4,156.68M	353.93M	371.74M
Net Receivables	0.00M	0.00M	0.00M	174,580.45M	301,696.38M	142,239.62M	129,231.06M	107,804.42M	95,197.32M	75,374.72M	58,615.48M	50,486.52M	40,738.23M	32,091.73M	22,691.20M	14,430.77M	8,621.72M	0.00M
Inventory	434.69M	476.75M	476.75M	409.68M	466.28M	559.02M	397.38M	403.84M	448.33M	317.60M	290.19M	157.18M	161.05M	81.41M	134.22M	7.16M	3.28M	4.19M
Other Current Assets	160,410.18M	151,628.21M	151,628.21M	1,686.30M	-147,620.78M	106.56M	-146.38M	109,114.91M	608.42M	2,278.24M	3,977.86M	2,246.18M	1,592.95M	198.29M	22,908.79M	15,524.28M	8,592.91M	5,080.22M
Total Current Assets	182,145.83M	186,307.54M	186,307.54M	198,751.13M	174,216.84M	162,533.41M	144,633.32M	221,625.33M	101,970.43M	82,198.99M	64,934.84M	55,390.55M	45,810.08M	35,044.90M	47,226.47M	34,118.90M	17,571.84M	5,456.14M
Property, Plant & Equipment	28,189.04M	28,950.40M	28,950.40M	25,901.55M	26,839.50M	26,395.90M	18,930.84M	15,005.76M	9,984.77M	6,968.92M	4,995.71M	3,357.88M	1,733.17M	964.05M	353.00M	106.90M	26.54M	12.71M
Goodwill	368.74M	194.74M	194.74M	171.52M	270.51M	373.98M	2,032.23M	2,321.84M	1,716.53M	1,283.70M	748.82M	359.45M	64.16M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	140.23M	140.60M	140.60M	121.75M	85.97M	72.23M	49.13M	34.47M	1,568.77M	1,287.31M	1,237.15M	1,169.58M	1,011.75M	992.07M	7.76M	0.00M	0.00M	0.00M
Long-Term Investments	0.00M	16,973.11M	16,973.11M	14,102.90M	13,885.49M	13,341.32M	10,193.91M	11,036.16M	7,740.02M	3,132.92M	1,775.61M	1,438.87M	506.15M	48,891.43M	35,099.91M	0.00M	0.00M	0.00M
Tax Assets	6,119.51M	6,051.26M	6,051.26M	6,052.35M	6,116.38M	5,394.57M	5,142.90M	4,181.25M	4,031.73M	3,169.41M	1,907.36M	1,300.72M	904.33M	583.95M	262.44M	126.35M	61.44M	28.35M
Other Non-Current Assets	146,836.27M	120,350.89M	120,350.89M	286,280.63M	124,574.71M	127,223.29M	118,399.56M	115,183.66M	138,957.56M	129,413.03M	90,961.42M	76,295.83M	60,696.48M	36.46M	28.55M	26,954.90M	16,134.64M	8,554.56M
Other Assets	0.00M	0.00M	0.00M	-179,898.59M	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
Total Non-Current Assets	181,653.79M	172,660.99M	172,660.99M	152,732.11M	171,772.56M	172,801.28M	154,748.57M	147,763.14M	163,999.36M	145,255.28M	101,626.08M	83,922.34M	64,916.04M	51,467.97M	35,751.66M	27,188.15M	16,222.62M	8,595.62M
Total Assets	363,799.62M	358,968.53M	358,968.53M	351,483.24M	345,989.40M	335,334.70M	299,381.89M	369,388.47M	265,969.79M	227,454.27M	166,560.92M	139,312.89M	110,726.12M	86,512.87M	82,978.13M	61,307.05M	33,794.46M	14,051.76M
Accounts Payable	8,014.18M	7,865.57M	7,865.57M	9,509.12M	13,971.08M	13,888.40M	7,872.46M	4,012.47M	3,371.71M	1,838.96M	2,887.27M	8,337.64M	3,489.07M	2,299.35M	2,174.16M	2,251.65M	1,064.79M	664.10M
Short-Term Debt	154,423.75M	145,565.88M	145,565.88M	132,389.99M	123,598.94M	122,858.12M	104,169.00M	87,981.22M	66,635.54M	55,994.50M	53,545.55M	41,699.53M	30,272.87M	27,283.67M	18,792.38M	12,054.93M	6,035.68M	2,163.37M
Tax Payables	1,031.13M	1,886.65M	1,886.65M	2,183.42M	2,609.37M	3,179.43M	2,603.73M	2,133.71M	2,875.97M	2,162.65M	1,686.90M	1,086.30M	1,010.02M	649.32M	269.91M	219.60M	168.63M	58.24M
Deferred Revenue	0.00M	0.00M	0.00M	-5,171.09M	0.00M	17,870.82M	0.00M	14,239.49M	13,830.15M	9,928.34M	7,312.03M	4,338.56M	3,285.70M	2,231.14M	1,190.75M	0.00M	168.63M	58.24M
Other Current Liabilities	116.94M	1,664.43M	1,664.43M	1,183.12M	2,006.51M	-13,306.88M	-313.24M	-7,868.30M	-82,264.52M	-66,777.93M	3,070.56M	1,595.86M	-38,336.06M	-33,003.42M	502.36M	-9.26M	0.00M	1,452.53M
Total Current Liabilities	163,586.00M	156,982.53M	156,982.53M	140,094.56M	142,185.89M	144,489.88M	114,331.94M	100,498.58M	4,448.84M	3,146.52M	68,502.31M	57,057.90M	-278.40M	-539.95M	22,929.56M	14,516.92M	7,437.75M	4,396.47M
Long-Term Debt	110,935.22M	119,352.30M	119,352.30M	123,455.71M	128,234.92M	107,949.64M	101,867.75M	76,288.12M	105,879.45M	88,905.18M	53,392.04M	41,729.27M	41,504.97M	29,270.81M	17,704.12M	17,519.69M	11,009.74M	6,353.14M
Capital Lease Obligations	940.72M	994.47M	994.47M	987.65M	506.38M	607.02M	820.59M	1,873.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	664.95M	826.53M	826.53M	860.95M	902.57M	386.85M	244.08M	236.65M	149.47M	76.71M	70.85M	129.39M	137.56M	124.48M	91.46M	77.10M	35.07M	37.12M
Other Non-Current Liabilities	15,807.04M	13,095.79M	13,095.79M	167,429.69M	11,532.05M	15,566.70M	21,786.35M	0.00M	119,644.47M	101,359.73M	22,229.27M	17,119.57M	51,345.40M	42,748.72M	6,471.65M	13.24M	21.01M	8.90M
Total Non-Current Liabilities	128,347.93M	134,269.09M	134,269.09M	292,734.00M	141,175.92M	124,510.20M	124,718.77M	78,397.85M	225,673.39M	190,341.62M	75,692.16M	58,978.23M	92,987.93M	72,144.01M	24,267.23M	17,610.03M	11,065.82M	6,399.16M
Total Liabilities	291,933.93M	291,251.62M	291,251.62M	432,828.55M	283,361.81M	269,000.08M	239,050.71M	178,896.43M	230,122.23M	193,488.14M	144,194.47M	116,036.13M	92,709.53M	71,604.07M	47,196.79M	32,126.95M	18,503.57M	10,795.63M
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	0.00M
Common Stock	15,373.82M	13,098.93M	13,098.93M	13,066.29M	13,052.34M	13,042.86M	10,397.10M	10,281.21M	10,235.37M	10,218.44M	10,213.02M	10,210.57M	6,683.75M	27.57M	26.38M	22.92M	0.01M	0.01M
Retained Earnings	35,110.70M	34,126.00M	34,126.00M	34,248.67M	30,870.98M	26,269.88M	22,069.37M	18,544.63M	15,428.99M	12,573.48M	10,293.24M	8,188.74M	6,278.26M	4,604.62M	3,138.46M	232.93M	0.00M	0.00M
Accumulated OCI	0.00M	1,529.93M	1,529.93M	4,144.61M	4,404.07M	9,724.18M	10,131.04M	11,032.54M	-2,594.24M	-1,549.60M	-974.69M	-589.29M	-241.57M	-120.82M	-62.61M	-24.51M	-12.29M	-7.87M
Minority Interest	8,478.64M	8,486.83M	8,486.83M	5,896.36M	4,112.12M	4,017.18M	2,669.62M	1,546.13M	1,573.17M	1,269.20M	654.99M	343.18M	78.77M	39.53M	10.89M	4.01M	2.79M	0.00M
Total Shareholders’ Equity	50,484.52M	48,754.86M	48,754.86M	51,459.57M	48,327.39M	49,036.93M	42,597.52M	39,858.39M	23,070.13M	21,242.32M	19,531.57M	17,810.02M	12,720.44M	4,511.37M	3,102.24M	231.34M	-12.28M	-7.87M
Total Equity	58,963.16M	57,241.68M	57,241.68M	57,355.93M	52,439.51M	53,054.11M	45,267.13M	41,404.52M	24,643.29M	22,511.52M	20,186.56M	18,153.20M	12,799.21M	4,550.90M	3,113.13M	235.35M	-9.49M	-7.87M
Total Liabilities & Equity	350,897.09M	348,493.31M	348,493.31M	490,184.48M	335,801.33M	322,054.19M	284,317.84M	220,300.95M	254,765.52M	215,999.67M	164,381.03M	134,189.33M	105,508.74M	76,154.97M	50,309.92M	32,362.30M	18,494.08M	10,787.76M
Tangible Assets	363,290.65M	358,633.19M	358,633.19M	351,189.96M	345,632.92M	334,888.49M	297,300.53M	367,032.17M	262,684.50M	224,883.27M	164,574.95M	137,783.85M	109,650.21M	85,520.80M	82,970.37M	61,307.05M	33,794.46M	14,051.76M
Tangible Equity	58,454.19M	56,906.35M	56,906.35M	57,062.66M	52,083.03M	52,607.90M	43,185.77M	39,048.21M	21,358.00M	19,940.52M	18,200.59M	16,624.17M	11,723.30M	3,558.83M	3,105.37M	235.35M	-9.49M	-7.87M
Tangible Book Value	58,454.19M	56,906.35M	56,906.35M	57,062.66M	52,083.03M	52,607.90M	43,185.77M	39,048.21M	21,358.00M	19,940.52M	18,200.59M	16,624.17M	11,723.30M	3,558.83M	3,105.37M	235.35M	-9.49M	-7.87M
Total Investments	3,007.04M	20,894.31M	20,894.31M	16,210.98M	16,501.36M	17,310.50M	13,467.93M	11,348.76M	8,186.99M	4,545.81M	1,775.61M	1,438.87M	506.15M	48,891.43M	35,099.91M	0.00M	0.00M	134.29M
Net Debt	247,065.05M	234,636.82M	234,636.82M	235,879.09M	234,774.77M	215,148.72M	194,159.51M	160,279.77M	167,245.59M	142,084.14M	104,886.28M	80,928.14M	68,459.99M	53,881.00M	35,004.25M	25,417.94M	16,691.50M	8,144.76M

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	2011-12-31	2010-12-31	2009-12-31
Working Capital	6,793.1M	19,865.0M	19,865.0M	41,660.6M	22,769.0M	6,286.1M	15,843.0M	1,597.5M	13,800.6M	10,214.5M	-939.8M	-1,721.9M	6,986.7M	1,663.1M	1,356.8M	4,072.6M	1,117.7M	1,295.9M
Total Capital	317,298.9M	314,903.0M	314,903.0M	308,297.0M	300,161.3M	279,844.7M	248,634.3M	204,258.0M	210,034.3M	180,038.3M	131,128.7M	106,047.0M	89,149.0M	70,679.8M	49,251.7M	38,848.9M	20,540.2M	10,399.9M
Capital Employed	188,446.9M	192,526.0M	192,526.0M	194,392.7M	194,541.6M	179,087.4M	170,591.6M	149,360.6M	177,799.9M	155,469.7M	100,686.3M	82,200.4M	71,902.7M	53,131.1M	37,108.5M	31,260.8M	17,340.3M	9,891.6M
Invested Capital	299,005.0M	284,621.6M	284,621.6M	288,330.4M	283,102.2M	264,185.6M	236,757.0M	200,268.4M	204,764.9M	177,222.7M	129,077.4M	103,546.4M	85,831.1M	68,006.3M	47,759.4M	34,692.2M	20,186.3M	10,028.2M

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	2009-12-31
Net Income	13,349.16M	12,649.92M	8,021.36M	6,299.87M	10,318.61M	10,013.30M	7,507.55M	7,144.83M	6,492.57M	4,787.19M	4,072.47M	3,579.73M	3,211.20M	2,600.74M	2,059.07M	1,438.35M	884.31M	610.18M
Depreciation & Amortization	6,913.45M	5,864.35M	3,579.18M	2,963.52M	3,077.26M	2,302.26M	1,854.98M	1,360.69M	956.95M	544.57M	407.41M	275.65M	192.84M	113.62M	59.44M	27.99M	11.70M	5.33M
Deferred Income Tax	0.00M	-306.03M	0.00M	0.00M	0.00M	-11,294.05M	-7,926.09M	-9,405.21M	-8,559.71M	-5,408.01M	-4,623.68M	-4,624.38M	-3,396.55M	0.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	403.92M	395.66M	204.56M	233.15M	246.37M	99.76M	162.85M	299.67M	305.90M	254.28M	166.32M	58.97M	17.99M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	6,366.35M	-30,323.48M	1,907.56M	-5,093.16M	-18,632.38M	-25,651.69M	-34,341.64M	10,802.41M	-22,631.76M	-46,701.54M	-25,201.27M	-13,609.02M	-16,767.56M	-19,322.59M	-13,612.18M	-13,576.88M	-9,166.43M	-3,414.22M
Accounts Receivable	1,670.29M	0.00M	1,670.29M	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
Inventory	6.66M	-89.62M	-62.39M	36.93M	-10.93M	-162.35M	-8.24M	68.13M	-166.69M	-55.18M	-117.18M	14.02M	-77.56M	53.75M	-97.07M	-3.78M	0.90M	-3.76M
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	0.00M	0.00M	0.00M
Other Working Capital	4,689.40M	-30,233.86M	299.66M	-5,130.09M	-18,621.45M	-25,489.34M	-34,333.40M	10,734.27M	-22,465.08M	-46,646.36M	-25,084.10M	-13,623.04M	-16,690.00M	-19,376.34M	-13,515.11M	-13,573.10M	-9,167.32M	-3,410.46M
Other Non-Cash Items	-6,516.20M	1,355.68M	-3,746.69M	-676.85M	-2,695.49M	9,662.88M	8,280.00M	8,186.69M	8,592.82M	5,736.89M	4,169.55M	4,029.34M	3,409.71M	-163.62M	-252.95M	-105.80M	-17.89M	-35.60M
Net Cash from Operating Activities	20,516.67M	-10,057.87M	9,965.98M	3,726.53M	-7,685.64M	-14,867.54M	-24,462.35M	18,389.07M	-14,843.23M	-40,786.63M	-21,009.20M	-10,289.71M	-13,332.37M	-16,771.86M	-11,746.61M	-12,216.34M	-8,288.30M	-2,834.31M
Capital Expenditures (PPE)	-10,776.40M	-10,381.78M	-8,411.87M	-2,558.96M	-3,958.00M	-10,458.53M	-7,173.04M	-3,295.59M	-3,684.67M	-2,524.39M	-1,884.92M	-1,876.37M	-926.28M	-1,751.62M	-57.87M	-87.86M	-34.77M	-7.48M
Acquisitions (Net)	444.08M	14.39M	653.63M	186.96M	-490.29M	-110.35M	228.05M	-1,476.61M	-3,257.82M	-868.60M	-733.59M	-1,259.52M	-129.38M	-72.75M	-21.59M	0.00M	0.00M	0.00M
Purchases of Investments	-1,268.54M	0.00M	-1,268.54M	-1,230.70M	-1,829.47M	-3,360.02M	-5,857.79M	-2,446.80M	-1,910.01M	-3,050.07M	-367.55M	-347.69M	-885.25M	-18.40M	-6.60M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	3,485.15M	0.00M	3,485.15M	1,450.55M	3,322.72M	3,317.71M	1,180.51M	754.48M	2,141.17M	579.94M	280.58M	259.82M	7.80M	4.99M	5.80M	0.00M	0.00M	0.00M
Other Investing Activities	1,161.65M	3,714.05M	2,006.54M	-245.09M	1,189.21M	766.06M	1,067.39M	279.38M	265.07M	311.72M	171.68M	16.14M	20.40M	113.26M	212.29M	-255.19M	50.02M	-66.61M
Net Cash from Investing Activities	-6,954.05M	-6,653.34M	-3,535.09M	-2,397.25M	-1,765.83M	-9,845.12M	-10,554.88M	-6,185.14M	-6,446.25M	-5,551.40M	-2,533.79M	-3,207.62M	-1,912.71M	-1,724.52M	132.03M	-343.05M	15.25M	-74.08M
Net Debt Issuance	10,747.09M	44,409.95M	8,667.03M	3,252.54M	17,085.95M	28,965.77M	45,826.93M	-10,950.13M	25,728.47M	38,606.99M	22,891.30M	10,394.01M	15,405.08M	20,178.49M	6,773.81M	12,741.95M	8,103.19M	-7,250.96M
Long-Term Debt Issuance	10,747.09M	44,409.95M	8,667.03M	3,252.54M	17,085.95M	28,965.77M	45,826.93M	-10,735.82M	25,728.47M	38,606.99M	22,891.30M	10,394.01M	15,405.08M	20,178.49M	6,773.81M	12,741.95M	8,103.19M	-7,250.96M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-214.31M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-1,357.18M	-8,601.73M	-290.74M	-1,567.88M	-7,130.28M	54.78M	92.09M	-774.97M	-287.16M	4.28M	-633.18M	3,464.52M	-136.26M	0.00M	2,287.01M	4,590.97M	369.30M	0.00M
Common Stock Issuance	-290.74M	175,854.09M	-290.74M	0.00M	-245.99M	54.78M	92.09M	0.00M	0.00M	4.28M	0.00M	3,464.52M	-136.26M	0.00M	2,287.01M	4,590.97M	369.30M	0.00M
Common Stock Repurchased	-1,066.43M	-8,601.73M	0.00M	-1,567.88M	0.00M	0.00M	0.00M	-774.97M	-300.58M	0.00M	-633.18M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	-1,518.59M	-6,884.29M	0.00M	0.00M	-36.44M	0.00M	0.00M	-1.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-4,148.71M	-3,836.53M	-2,872.92M	-1,987.87M	-1,809.40M	-1,583.35M	-1,143.49M	-1,001.45M	-972.00M	-763.00M	-769.67M	-592.48M	-600.80M	-602.71M	-264.88M	0.00M	0.00M	0.00M
Common Dividends Paid	-4,148.71M	-3,836.53M	-2,872.92M	-1,987.87M	-1,809.40M	-1,583.35M	-1,143.49M	-1,001.45M	-972.00M	-763.00M	-769.67M	-592.48M	-600.80M	-602.71M	-268.50M	-7.06M	0.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-490.50M	-510.87M	-81.01M	-73.61M	-104.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-21,989.58M	-7,401.85M	-11,102.25M	1,894.83M	1,465.14M	1,078.55M	-1,832.73M	-791.01M	-273.47M	9,397.77M	1,763.90M	-423.27M	1,146.59M	99.02M	248.11M	-1,086.95M	-213.53M	10,243.15M
Net Cash from Financing Activities	-16,748.38M	24,569.85M	-5,598.89M	1,591.62M	9,611.41M	28,515.74M	42,942.81M	-13,517.55M	23,684.96M	47,165.04M	23,178.75M	12,738.74M	15,814.61M	19,674.79M	8,967.63M	16,238.91M	8,258.96M	2,992.19M
Effect of FX on Cash	97.30M	144.64M	101.97M	27.80M	84.86M	-21.28M	-37.92M	33.81M	58.37M	-62.77M	-85.11M	-58.60M	74.84M	-7.63M	11.09M	141.78M	6.91M	-0.75M
Net Change in Cash	35,550.60M	8,003.28M	933.98M	2,948.70M	244.81M	3,781.80M	7,887.66M	-1,279.82M	2,453.85M	764.24M	-449.36M	-817.19M	644.37M	1,170.78M	-2,635.86M	3,821.30M	-7.18M	83.05M
Cash at Beginning of Period	44,327.97M	58,694.47M	18,852.54M	15,903.84M	15,659.04M	11,877.24M	3,989.57M	5,269.39M	2,815.54M	2,051.31M	2,500.67M	3,317.85M	2,673.48M	1,502.70M	4,128.11M	335.38M	361.11M	288.69M
Cash at End of Period	79,878.57M	66,697.74M	19,786.52M	18,852.54M	15,903.84M	15,659.04M	11,877.24M	3,989.57M	5,269.39M	2,815.54M	2,051.31M	2,500.67M	3,317.85M	2,673.48M	1,492.25M	4,156.68M	353.93M	371.74M
Operating Cash Flow	20,516.67M	-10,057.87M	9,965.98M	3,726.53M	-7,685.64M	-14,867.54M	-24,462.35M	18,389.07M	-14,843.23M	-40,786.63M	-21,009.20M	-10,289.71M	-13,332.37M	-16,771.86M	-11,746.61M	-12,216.34M	-8,288.30M	-2,834.31M
Capital Expenditure	-10,776.40M	-10,381.78M	-8,411.87M	-2,558.96M	-3,958.00M	-10,458.53M	-7,173.04M	-3,295.59M	-3,684.67M	-2,524.39M	-1,884.92M	-1,876.37M	-926.28M	-1,751.62M	-57.87M	-87.86M	-34.77M	-7.48M
Free Cash Flow	9,740.27M	-20,439.66M	1,554.12M	1,167.57M	-11,643.64M	-25,326.07M	-31,635.40M	15,093.47M	-18,527.90M	-43,311.02M	-22,894.13M	-12,166.08M	-14,258.65M	-18,523.48M	-11,804.49M	-12,304.20M	-8,323.07M	-2,841.78M

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	2009-12-31
EBITDA	45,219.30M	36,471.85M	11,041.74M	11,782.05M	11,757.38M	9,673.10M	10,608.43M	10,095.83M	9,515.96M	5,355.81M	4,466.09M	3,922.36M	3,131.10M	2,712.25M	2,054.27M	1,417.46M	852.99M	602.69M
(-) Tax Adjustment	15,826.76M	12,765.15M	3,864.61M	3,964.82M	4,115.08M	3,385.59M	3,496.64M	3,273.38M	3,084.42M	1,541.26M	1,239.97M	1,095.42M	847.35M	714.02M	552.80M	354.60M	191.36M	136.85M
(-) Change In Working Capital	6,366.35M	-30,323.48M	1,907.56M	-5,093.16M	-18,632.38M	-25,651.69M	-34,341.64M	10,802.41M	-22,631.76M	-46,701.54M	-25,201.27M	-13,609.02M	-16,767.56M	-19,322.59M	-13,612.18M	-13,576.88M	-9,166.43M	-3,414.22M
(-) Capital Expenditure	-10,776.40M	-10,381.78M	-8,411.87M	-2,558.96M	-3,958.00M	-10,458.53M	-7,173.04M	-3,295.59M	-3,684.67M	-2,524.39M	-1,884.92M	-1,876.37M	-926.28M	-1,751.62M	-57.87M	-87.86M	-34.77M	-7.48M
Unlevered Free Cash Flow	12,249.79M	43,648.40M	-3,142.30M	10,351.43M	22,316.67M	21,480.67M	34,280.39M	-7,275.55M	25,378.64M	47,991.71M	26,542.47M	14,559.58M	18,125.03M	19,569.20M	15,055.77M	14,551.88M	9,793.30M	3,872.58M
(-) Net Interest Income After Taxes	170.82M	0.00M	170.82M	370.25M	1.98M	871.30M	438.10M	144.13M	-44.30M	86.93M	-25.39M	-47.61M	27.22M	24.61M	33.55M	-0.90M	0.00M	0.00M
Net Debt Issuance	10,747.09M	44,409.95M	8,667.03M	3,252.54M	17,085.95M	28,965.77M	45,826.93M	-10,950.13M	25,728.47M	38,606.99M	22,891.30M	10,394.01M	15,405.08M	20,178.49M	6,773.81M	12,741.95M	8,103.19M	-7,250.96M
Levered Free Cash Flow	22,826.05M	88,058.36M	5,353.90M	13,233.72M	39,400.63M	49,575.14M	79,669.22M	-18,369.80M	51,151.41M	86,511.76M	49,459.16M	25,001.20M	33,502.89M	39,723.08M	21,796.03M	27,294.73M	17,896.49M	-3,378.38M