Vinci S.A. (SQU.DE)

Industry: Engineering & Construction Sector: Industrials Currency Used: FR Live Price: $117.35

Enterprise Value

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998	1997	1996
Stock Price	100.32	110.04	89.13	91.45	81.68	94.73	77.19	79.83	64.20	55.51	50.06	43.39	36.37	38.97	37.51	35.73	34.50	53.07	44.34	26.77	11.35	7.78	7.57	8.74	6.74	5.85	5.23	2.67	2.09
Market Capitalization	57,215.59M	62,505.03M	50,296.63M	52,004.22M	45,365.70M	52,528.85M	43,245.91M	44,645.21M	35,874.30M	30,973.35M	28,093.25M	24,087.49M	19,704.06M	21,300.70M	20,155.91M	17,754.79M	16,632.47M	25,676.76M	20,305.12M	10,819.16M	4,524.48M	3,059.10M	2,826.41M	3,043.07M	1,376.56M	967.56M	872.12M	386.92M	257.41M
(-) Cash & Equivalents	13,947.50M	13,193.50M	11,105.00M	10,703.00M	9,687.00M	7,306.50M	6,978.50M	5,795.50M	5,518.00M	5,419.50M	5,410.00M	5,766.70M	5,649.80M	5,686.90M	5,307.10M	3,473.06M	1,267.13M	1,055.95M	1,288.70M	286.00M	207.60M	164.55M	775.93M	1,454.60M	1,058.95M	535.35M	139.60M	344.50M	76.50M
(+) Total Debt	37,866.00M	32,614.00M	31,458.00M	31,911.00M	32,502.50M	32,880.00M	23,701.50M	21,183.50M	20,634.00M	19,694.50M	20,887.00M	21,015.55M	20,338.95M	20,285.00M	20,584.45M	12,935.88M	5,273.58M	5,358.28M	5,338.10M	1,830.80M	1,786.30M	1,694.13M	14.88M	25.25M	30.45M	498.50M	25.50M	550.00M	23.90M
Enterprise Value	81,134.09M	81,925.53M	70,649.63M	73,212.22M	68,181.20M	78,102.35M	59,968.91M	60,033.21M	50,990.30M	45,248.35M	43,570.25M	39,336.34M	34,393.21M	35,898.80M	35,433.26M	27,217.61M	20,638.92M	29,979.08M	24,354.52M	12,363.96M	6,103.18M	4,588.68M	2,065.36M	1,613.72M	348.06M	930.71M	758.02M	592.42M	204.81M

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	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31
Revenue	145,122M	122,552M	72,768M	69,885M	62,514M	50,230M	44,118M	48,950M	44,354M	41,077M	38,678M	39,321M	39,194M	40,994M	39,418M	37,851M	34,003M	31,178M	33,930M	30,874M	25,634M	21,722M	19,775M	18,111M	17,554M	17,172M	14,127M	9,057M	8,012M	6,631M	6,861M
Cost of Revenue	121,882M	105,755M	30,425M	60,230M	54,468M	43,421M	39,278M	41,035M	38,233M	35,362M	33,415M	34,477M	34,462M	36,247M	17,447M	16,726M	19,351M	6,881M	8,258M	7,215M	6,307M	5,444M	5,066M	4,557M	4,573M	0M	0M	1,361M	-404M	0M	0M
Gross Profit	23,240M	16,797M	42,343M	9,655M	8,046M	6,809M	4,840M	7,915M	6,121M	5,715M	5,263M	4,844M	4,732M	4,747M	21,971M	21,125M	14,652M	24,296M	25,673M	23,659M	19,328M	16,279M	14,709M	13,554M	12,980M	17,172M	14,127M	7,696M	8,415M	6,631M	6,861M
Gross Profit Margin	16.0%	13.7%	58.2%	13.8%	12.9%	13.6%	11.0%	16.2%	13.8%	13.9%	13.6%	12.3%	12.1%	11.6%	55.7%	55.8%	43.1%	77.9%	75.7%	76.6%	75.4%	74.9%	74.4%	74.8%	73.9%	100.0%	100.0%	85.0%	105.0%	100.0%	100.0%
R&D Expenses	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
SG&A Expenses	3,170M	1,779M	0M	2,458M	356M	1,269M	4,726M	1,310M	233M	186M	151M	95M	102M	86M	5,104M	1,009M	912M	10,660M	11,638M	10,318M	8,376M	7,624M	6,677M	7,423M	7,196M	0M	0M	-1,277M	-13M	0M	0M
Operating Expenses	5,770M	4,032M	33,560M	1,584M	1,352M	2,561M	2,509M	2,386M	1,292M	1,273M	1,293M	1,267M	658M	993M	18,304M	17,524M	11,249M	21,174M	22,374M	20,200M	16,748M	14,781M	13,446M	12,410M	12,047M	16,059M	13,319M	7,522M	7,785M	6,537M	6,441M
Operating Income (EBIT)	17,470M	12,765M	8,783M	8,071M	6,694M	4,248M	2,331M	5,529M	4,829M	4,442M	3,970M	3,577M	4,074M	3,754M	3,667M	3,601M	3,403M	3,122M	3,298M	3,459M	2,580M	1,498M	1,264M	1,144M	933M	1,113M	807M	174M	630M	94M	420M
Operating Income Margin	12.0%	10.4%	12.1%	11.5%	10.7%	8.5%	5.3%	11.3%	10.9%	10.8%	10.3%	9.1%	10.4%	9.2%	9.3%	9.5%	10.0%	10.0%	9.7%	11.2%	10.1%	6.9%	6.4%	6.3%	5.3%	6.5%	5.7%	1.9%	7.9%	1.4%	6.1%
Interest Income	762M	961M	0M	0M	56M	0M	227M	-50M	-31M	-35M	-66M	-49M	-80M	-63M	-97M	38M	75M	83M	180M	196M	152M	186M	79M	0M	0M	126M	-32M	18M	5M	17M	0M
Interest Expense	2,027M	0M	1,410M	1,175M	810M	750M	787M	558M	579M	567M	640M	666M	719M	714M	697M	816M	866M	797M	1,043M	1,007M	734M	276M	45M	73M	153M	126M	63M	12M	25M	0M	0M
Net Interest Income	-1,265M	961M	-1,410M	-1,175M	-754M	-750M	-560M	-608M	-610M	-602M	-706M	-715M	-799M	-777M	-794M	-778M	-791M	-714M	-863M	-811M	-582M	-89M	35M	-73M	-153M	0M	-95M	6M	-20M	17M	0M
Unusual Items	-1,575M	-1,866M	3M	123M	213M	322M	52M	121M	254M	268M	291M	271M	291M	139M	32M	157M	136M	35M	35M	-377M	52M	58M	-94M	-16M	-80M	-391M	-321M	6M	-516M	-57M	-466M
EBT Excluding Unusual Items	16,205M	13,726M	7,373M	6,896M	5,940M	3,498M	1,771M	4,921M	4,219M	3,840M	3,264M	2,862M	3,275M	2,977M	2,873M	2,823M	2,612M	2,408M	2,435M	2,648M	1,998M	1,408M	1,298M	1,071M	781M	1,113M	713M	180M	610M	111M	420M
Pre-Tax Income	14,630M	11,860M	7,376M	7,019M	6,153M	3,820M	1,823M	5,042M	4,473M	4,108M	3,555M	3,133M	3,566M	3,116M	2,905M	2,980M	2,748M	2,443M	2,470M	2,271M	2,050M	1,466M	1,205M	1,056M	701M	722M	391M	186M	94M	54M	-47M
Pre-Tax Margin	10.1%	9.7%	10.1%	10.0%	9.8%	7.6%	4.1%	10.3%	10.1%	10.0%	9.2%	8.0%	9.1%	7.6%	7.4%	7.9%	8.1%	7.8%	7.3%	7.4%	8.0%	6.8%	6.1%	5.8%	4.0%	4.2%	2.8%	2.1%	1.2%	0.8%	-0.7%
Income Tax Expense	4,441M	3,380M	2,102M	1,917M	1,737M	1,625M	807M	1,634M	1,418M	1,271M	1,013M	1,055M	1,050M	1,070M	972M	984M	847M	745M	771M	744M	667M	463M	380M	234M	223M	182M	36M	35M	-3M	24M	9M
Net Income	9,372M	8,263M	4,863M	4,702M	4,259M	2,597M	1,242M	3,260M	2,983M	2,747M	2,505M	2,046M	2,486M	1,962M	1,917M	1,904M	1,901M	1,703M	1,699M	1,578M	1,432M	1,003M	838M	541M	478M	454M	300M	146M	92M	39M	-57M
Net Income Margin	6.5%	6.7%	6.7%	6.7%	6.8%	5.2%	2.8%	6.7%	6.7%	6.7%	6.5%	5.2%	6.3%	4.8%	4.9%	5.0%	5.6%	5.5%	5.0%	5.1%	5.6%	4.6%	4.2%	3.0%	2.7%	2.6%	2.1%	1.6%	1.2%	0.6%	-0.8%
Depreciation & Amortization	7,198M	6,517M	3,998M	3,800M	3,613M	3,219M	3,171M	3,040M	2,242M	2,128M	2,003M	2,033M	2,091M	2,060M	1,877M	1,811M	1,741M	1,814M	1,730M	1,595M	1,366M	690M	629M	624M	731M	122M	90M	55M	36M	0M	217M
EBITDA	24,668M	19,282M	12,781M	11,871M	10,307M	7,467M	5,502M	8,569M	7,071M	6,570M	5,973M	5,610M	6,165M	5,814M	5,544M	5,412M	5,144M	4,936M	5,028M	5,054M	3,946M	2,187M	1,892M	1,769M	1,664M	1,236M	898M	229M	666M	94M	636M
EBITDA Margin	17.0%	15.7%	17.6%	17.0%	16.5%	14.9%	12.5%	17.5%	15.9%	16.0%	15.4%	14.3%	15.7%	14.2%	14.1%	14.3%	15.1%	15.8%	14.8%	16.4%	15.4%	10.1%	9.6%	9.8%	9.5%	7.2%	6.4%	2.5%	8.3%	1.4%	9.3%
NOPAT	12,167M	9,127M	6,280M	5,867M	4,804M	2,441M	1,299M	3,737M	3,298M	3,068M	2,839M	2,372M	2,874M	2,465M	2,440M	2,412M	2,354M	2,170M	2,269M	2,326M	1,740M	1,025M	865M	891M	636M	832M	734M	141M	647M	52M	332M
NOPAT Margin	8.4%	7.4%	8.6%	8.4%	7.7%	4.9%	2.9%	7.6%	7.4%	7.5%	7.3%	6.0%	7.3%	6.0%	6.2%	6.4%	6.9%	7.0%	6.7%	7.5%	6.8%	4.7%	4.4%	4.9%	3.6%	4.8%	5.2%	1.6%	8.1%	0.8%	4.8%
Owner's Earnings	10,402M	8,807M	4,809M	5,170M	4,371M	3,753M	2,253M	3,904M	4,130M	4,010M	3,802M	3,330M	3,833M	3,245M	1,800M	1,851M	2,111M	1,397M	1,219M	1,088M	821M	149M	342M	1,166M	1,208M	576M	390M	201M	129M	39M	160M
Owner's Earnings Margin	7.2%	7.2%	6.6%	7.4%	7.0%	7.5%	5.1%	8.0%	9.3%	9.8%	9.8%	8.5%	9.8%	7.9%	4.6%	4.9%	6.2%	4.5%	3.6%	3.5%	3.2%	0.7%	1.7%	6.4%	6.9%	3.4%	2.8%	2.2%	1.6%	0.6%	2.3%
EPS (Basic)	16.49	14.60	8.53	8.28	7.55	4.56	2.23	5.88	5.38	4.95	4.52	3.69	4.47	3.57	3.57	3.52	3.35	3.27	3.39	3.13	2.90	2.49	2.24	1.59	1.38	1.39	1.47	0.89	0.55	0.27	-0.46
EPS (Diluted)	16.31	14.43	8.43	8.18	7.47	4.51	2.21	5.82	5.32	4.91	4.48	3.67	4.43	3.54	3.54	3.48	3.54	3.43	3.52	3.26	3.13	2.48	2.14	1.38	1.21	1.32	1.42	0.88	0.55	0.27	-0.46
Shares (Basic)	570M	566M	570M	568M	564M	570M	558M	555M	555M	555M	555M	554M	556M	549M	537M	541M	530M	488M	470M	465M	438M	350M	327M	340M	346M	327M	204M	164M	167M	145M	123M
Shares (Diluted)	575M	573M	577M	575M	571M	576M	563M	560M	560M	560M	560M	558M	562M	554M	542M	547M	537M	497M	482M	484M	458M	404M	392M	393M	394M	343M	211M	166M	167M	145M	123M

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	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31
Cash & Cash Equivalents	15,069.00M	15,199.00M	15,199.00M	15,627.00M	12,578.00M	11,065.00M	11,765.00M	8,257.00M	7,960.00M	6,807.00M	6,678.00M	5,632.00M	6,411.00M	5,605.00M	6,336.90M	7,372.40M	5,747.90M	5,556.90M	5,068.50M	4,223.80M	5,154.80M	1,144.00M	830.40M	658.20M	898.00M	2,909.20M	2,117.90M	1,070.70M	279.20M	689.00M	153.00M
Short-Term Investments	1,112.00M	971.00M	971.00M	545.00M	755.00M	200.00M	137.00M	287.00M	245.00M	222.00M	154.00M	166.00M	213.00M	186.00M	600.10M	526.20M	1,026.00M	1,237.70M	585.50M	898.90M	1,381.30M	4,380.30M	3,817.00M	3,569.00M	2,205.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	16,181.00M	16,170.00M	16,170.00M	16,172.00M	13,333.00M	11,265.00M	11,902.00M	8,544.00M	8,205.00M	7,029.00M	6,832.00M	5,798.00M	6,624.00M	5,791.00M	6,937.00M	7,898.60M	6,773.90M	6,794.60M	5,654.00M	5,122.70M	6,536.10M	5,524.30M	4,647.40M	4,227.20M	3,103.70M	2,909.20M	2,117.90M	1,070.70M	279.20M	689.00M	153.00M
Net Receivables	20,451.00M	19,365.00M	19,365.00M	19,103.00M	18,092.00M	16,148.00M	12,771.00M	14,523.00M	13,584.00M	12,432.00M	11,229.00M	10,531.00M	5,603.00M	5,520.00M	10,979.00M	10,292.40M	11,605.40M	10,165.30M	11,561.50M	10,674.40M	9,540.60M	8,396.80M	7,461.50M	7,150.60M	6,998.30M	7,250.00M	7,322.70M	4,008.60M	3,411.30M	1,006.00M	2,540.60M
Inventory	1,808.00M	1,772.00M	1,772.00M	1,878.00M	1,785.00M	1,591.00M	1,428.00M	1,434.00M	1,173.00M	1,056.00M	935.00M	964.00M	932.00M	969.00M	1,016.00M	1,004.10M	843.80M	667.30M	786.40M	647.50M	567.10M	540.70M	542.80M	473.70M	423.70M	405.10M	459.80M	332.60M	302.70M	0.00M	0.00M
Other Current Assets	9,943.00M	9,700.00M	9,700.00M	7,917.00M	8,487.00M	6,349.00M	6,186.00M	5,676.00M	5,623.00M	5,760.00M	5,691.00M	5,394.00M	10,617.00M	10,411.00M	4,627.00M	4,177.60M	3,569.40M	407.20M	417.10M	348.60M	241.10M	328.80M	286.10M	283.50M	262.30M	296.50M	146.90M	160.30M	1,105.70M	3,256.00M	1,752.20M
Total Current Assets	48,383.00M	47,007.00M	47,007.00M	45,070.00M	41,697.00M	35,353.00M	32,287.00M	30,177.00M	28,585.00M	26,277.00M	24,687.00M	22,687.00M	23,776.00M	22,691.00M	23,559.00M	23,372.70M	22,792.50M	18,034.40M	18,419.00M	16,793.20M	16,884.90M	14,790.60M	12,937.80M	12,135.00M	10,788.00M	10,860.80M	10,047.30M	5,572.20M	5,098.90M	4,951.00M	4,445.80M
Property, Plant & Equipment	15,799.00M	15,300.00M	15,300.00M	13,012.00M	10,805.00M	10,303.00M	9,760.00M	10,189.00M	5,359.00M	4,421.00M	4,468.00M	4,241.00M	4,316.00M	4,550.00M	4,745.00M	4,399.10M	4,411.50M	3,990.50M	4,582.90M	2,824.50M	2,322.60M	2,214.80M	2,006.70M	1,938.50M	1,926.70M	1,921.80M	1,860.60M	1,000.00M	748.60M	734.00M	781.40M
Goodwill	19,652.00M	19,519.00M	19,519.00M	17,577.00M	17,360.00M	16,099.00M	11,619.00M	11,647.00M	9,792.00M	8,600.00M	8,113.00M	7,296.00M	6,994.00M	7,000.00M	6,609.00M	6,263.80M	6,103.10M	3,598.60M	3,578.90M	3,382.50M	2,636.50M	813.10M	776.90M	719.70M	921.60M	900.20M	800.30M	671.40M	201.80M	0.00M	184.00M
Intangible Assets	40,245.00M	41,457.00M	41,457.00M	37,038.00M	37,269.00M	33,750.00M	32,733.00M	34,279.00M	27,750.00M	26,956.00M	27,100.00M	24,302.00M	24,554.00M	26,018.00M	23,937.00M	24,296.30M	24,126.50M	24,100.50M	24,236.50M	24,010.30M	24,826.80M	5,844.70M	5,106.10M	176.90M	192.30M	223.70M	104.20M	28.10M	22.10M	25.00M	46.30M
Long-Term Investments	3,832.00M	3,697.00M	3,697.00M	3,235.00M	3,978.00M	3,974.00M	4,522.00M	4,445.00M	1,775.00M	1,668.00M	1,639.00M	1,500.00M	1,434.00M	1,438.00M	531.10M	1,490.00M	557.00M	-68.80M	202.80M	-89.00M	-930.30M	-2,544.40M	-1,970.50M	-1,888.90M	-669.90M	0.00M	-1,059.40M	-24.70M	0.00M	0.00M	0.00M
Tax Assets	0.00M	1,268.00M	1,268.00M	1,122.00M	883.00M	767.00M	493.00M	370.00M	317.00M	255.00M	0.00M	278.00M	255.00M	0.00M	202.70M	179.10M	144.80M	117.70M	143.80M	110.10M	218.80M	210.50M	167.20M	121.20M	159.50M	74.50M	37.70M	27.00M	31.70M	0.00M	22.50M
Other Non-Current Assets	2,534.00M	1,319.00M	1,319.00M	802.00M	626.00M	570.00M	-2.00M	1.00M	1,743.00M	1,627.00M	1,696.00M	1,650.00M	1,701.00M	1,379.00M	2,006.80M	574.20M	1,066.90M	2,505.20M	628.30M	2,318.70M	1,428.60M	4,627.10M	4,103.50M	8,641.00M	6,963.40M	6,321.70M	6,972.80M	704.60M	486.00M	1,645.00M	293.60M
Other Assets	0.00M	0.00M	0.00M	702.00M	-627.00M	-569.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.00M	0.00M	0.00M	-45.60M	0.00M	0.00M	353.80M	0.00M	1.60M	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	82,062.00M	82,560.00M	82,560.00M	73,488.00M	70,294.00M	64,894.00M	59,125.00M	60,931.00M	46,736.00M	43,527.00M	43,016.00M	39,268.00M	39,254.00M	40,385.00M	37,986.00M	37,202.50M	36,409.80M	34,597.50M	33,373.20M	32,558.70M	30,503.00M	11,165.80M	10,189.90M	9,708.40M	9,493.60M	9,441.90M	8,716.20M	2,406.40M	1,490.20M	2,404.00M	1,327.80M
Total Assets	130,445.00M	129,567.00M	129,567.00M	118,558.00M	111,991.00M	100,247.00M	91,412.00M	91,108.00M	75,321.00M	69,804.00M	67,703.00M	61,955.00M	63,030.00M	63,076.00M	61,545.00M	60,575.20M	59,202.30M	52,631.90M	51,792.20M	49,351.90M	47,387.90M	25,956.40M	23,127.70M	21,843.40M	20,281.60M	20,302.70M	18,763.50M	7,978.60M	6,589.10M	7,355.00M	5,773.60M
Accounts Payable	14,703.00M	14,463.00M	14,463.00M	13,572.00M	13,088.00M	12,027.00M	8,876.00M	8,514.00M	8,240.00M	8,198.00M	7,740.00M	7,590.00M	7,620.00M	7,493.00M	7,604.00M	7,625.00M	6,692.20M	5,876.10M	6,803.80M	6,553.40M	5,554.10M	5,002.30M	4,619.20M	8,725.30M	8,500.90M	8,353.90M	8,259.80M	4,769.50M	4,047.60M	1,168.00M	3,536.70M
Short-Term Debt	10,335.00M	4,555.00M	4,555.00M	3,343.00M	5,291.00M	4,817.00M	4,228.00M	4,217.00M	4,667.00M	4,911.00M	5,229.00M	3,986.00M	4,061.00M	3,246.00M	3,640.00M	3,445.80M	2,275.30M	2,364.30M	3,322.00M	2,792.60M	3,728.60M	1,903.10M	1,124.60M	604.20M	598.00M	0.00M	0.00M	147.00M	0.00M	331.00M	0.00M
Tax Payables	0.00M	746.00M	746.00M	594.00M	607.00M	360.00M	221.00M	292.00M	282.00M	225.00M	190.00M	351.00M	168.00M	176.00M	361.30M	232.60M	183.10M	222.20M	123.70M	156.00M	138.70M	253.90M	213.60M	0.00M	160.90M	257.20M	232.30M	53.20M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	2,051.00M	0.00M	1,465.00M	0.00M	399.00M	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	0.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	32,370.00M	34,630.00M	34,630.00M	32,204.00M	28,757.00M	24,273.00M	19,803.00M	20,217.00M	18,047.00M	16,839.00M	16,606.00M	15,440.00M	15,017.00M	16,367.00M	15,298.00M	14,433.50M	12,806.70M	11,468.50M	11,246.40M	10,025.60M	8,084.50M	6,947.40M	1,428.10M	0.00M	0.00M	-8,467.60M	990.40M	-4,969.70M	501.70M	-1,499.00M	507.10M
Total Current Liabilities	57,408.00M	54,394.00M	54,394.00M	51,764.00M	47,743.00M	42,942.00M	33,128.00M	33,639.00M	31,236.00M	30,173.00M	29,765.00M	27,367.00M	26,866.00M	27,282.00M	26,903.30M	25,736.90M	21,957.30M	19,931.10M	21,495.90M	19,527.60M	17,505.90M	14,106.70M	7,385.60M	9,329.50M	9,259.80M	143.50M	9,482.50M	0.00M	4,549.30M	0.00M	4,043.80M
Long-Term Debt	29,564.00M	29,118.00M	29,118.00M	25,833.00M	23,630.00M	24,969.00M	26,684.00M	26,375.00M	19,488.00M	16,545.00M	16,213.00M	14,950.00M	17,086.00M	17,498.00M	16,554.00M	17,337.70M	17,696.70M	18,089.20M	17,623.60M	18,640.50M	17,635.00M	5,420.10M	6,140.70M	6,172.30M	5,260.80M	50.50M	60.90M	12.80M	51.00M	769.00M	47.80M
Capital Lease Obligations	2,724.00M	2,588.00M	2,588.00M	2,247.00M	2,102.00M	2,098.00M	1,908.00M	1,862.00M	167.00M	33.00M	52.00M	51.00M	78.00M	86.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	104.30M	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	4,991.00M	4,991.00M	4,030.00M	4,162.00M	3,225.00M	2,606.00M	2,701.00M	1,676.00M	1,735.00M	1,910.00M	1,656.00M	0.00M	0.00M	2,016.00M	2,166.90M	2,355.10M	2,357.10M	2,478.50M	2,413.70M	2,612.70M	210.60M	169.60M	115.50M	160.90M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	8,282.00M	4,367.00M	4,367.00M	4,636.00M	4,943.00M	4,226.00M	3,976.00M	4,176.00M	3,204.00M	3,110.00M	2,935.00M	2,817.00M	4,279.00M	4,065.00M	2,247.00M	1,718.40M	1,379.40M	1,135.90M	1,168.40M	1,081.90M	959.80M	838.00M	891.90M	575.30M	2,651.70M	-50.50M	-60.90M	768.20M	1,437.20M	-769.00M	1,236.30M
Total Non-Current Liabilities	40,570.00M	41,064.00M	41,064.00M	36,746.00M	34,837.00M	34,518.00M	35,174.00M	35,114.00M	24,535.00M	21,423.00M	21,110.00M	19,474.00M	21,443.00M	21,649.00M	20,817.00M	21,223.00M	21,431.20M	21,582.20M	21,270.50M	22,136.10M	21,311.80M	6,468.70M	7,202.20M	6,863.10M	8,073.40M	0.00M	0.00M	781.00M	1,488.20M	0.00M	1,284.10M
Total Liabilities	97,978.00M	95,458.00M	95,458.00M	88,510.00M	82,580.00M	77,460.00M	68,302.00M	68,753.00M	55,771.00M	51,596.00M	50,875.00M	46,841.00M	48,309.00M	48,931.00M	47,720.30M	46,959.90M	43,388.50M	41,513.30M	42,766.40M	41,663.70M	38,817.70M	20,575.40M	14,587.80M	16,192.60M	17,333.20M	143.50M	9,482.50M	781.00M	6,037.50M	0.00M	5,327.90M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1,074.00M	1,058.00M	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
Common Stock	1,455.00M	1,455.00M	1,455.00M	1,473.00M	1,473.00M	1,481.00M	1,471.00M	1,513.00M	1,494.00M	1,478.00M	1,473.00M	1,471.00M	1,475.00M	1,504.00M	1,443.00M	1,413.20M	1,381.60M	1,302.40M	1,240.40M	1,214.90M	1,176.60M	983.20M	838.10M	838.00M	828.70M	828.80M	791.50M	123.00M	537.60M	115.00M	394.10M
Retained Earnings	1,896.00M	4,863.00M	4,863.00M	4,702.00M	4,259.00M	2,597.00M	1,242.00M	3,260.00M	2,983.00M	2,747.00M	2,505.00M	2,046.00M	2,486.00M	1,962.00M	1,917.00M	3,493.90M	1,775.90M	1,596.00M	1,591.40M	1,507.90M	1,270.40M	871.20M	731.30M	541.40M	477.80M	453.50M	299.80M	146.30M	92.30M	0.00M	0.00M
Accumulated OCI	13,072.00M	11,136.00M	11,136.00M	9,950.00M	9,576.00M	8,534.00M	8,882.00M	7,869.00M	6,692.00M	5,452.00M	4,605.00M	4,092.00M	3,709.00M	4,259.00M	0.00M	1,897.80M	0.00M	0.00M	237.40M	0.00M	0.00M	902.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Minority Interest	3,805.00M	4,085.00M	4,085.00M	3,928.00M	3,470.00M	1,889.00M	2,161.00M	2,604.00M	633.00M	572.00M	541.00M	137.00M	125.00M	118.00M	731.00M	725.40M	720.60M	631.50M	605.30M	577.70M	748.40M	671.70M	595.80M	551.30M	511.90M	511.40M	482.40M	26.10M	25.20M	155.00M	11.80M
Total Shareholders’ Equity	16,423.00M	17,454.00M	17,454.00M	16,125.00M	15,308.00M	12,612.00M	11,595.00M	12,642.00M	12,243.00M	10,735.00M	8,583.00M	7,609.00M	7,670.00M	7,725.00M	3,360.00M	6,804.90M	3,157.50M	2,898.40M	3,069.20M	2,722.80M	2,447.00M	2,756.90M	1,569.40M	1,379.40M	1,306.50M	1,282.30M	1,091.30M	269.30M	629.90M	115.00M	394.10M
Total Equity	20,228.00M	21,539.00M	21,539.00M	20,053.00M	18,778.00M	14,501.00M	13,756.00M	15,246.00M	12,876.00M	11,307.00M	9,124.00M	7,746.00M	7,795.00M	7,843.00M	4,091.00M	7,530.30M	3,878.10M	3,529.90M	3,674.50M	3,300.50M	3,195.40M	3,428.60M	2,165.20M	1,930.70M	1,818.40M	1,793.70M	1,573.70M	295.40M	655.10M	270.00M	405.90M
Total Liabilities & Equity	118,206.00M	116,997.00M	116,997.00M	108,563.00M	101,358.00M	91,961.00M	82,058.00M	83,999.00M	68,647.00M	62,903.00M	59,999.00M	54,587.00M	56,104.00M	56,774.00M	51,811.30M	54,490.20M	47,266.60M	45,043.20M	46,440.90M	44,964.20M	42,013.10M	24,004.00M	16,753.00M	18,123.30M	19,151.60M	1,937.20M	11,056.20M	1,076.40M	6,692.60M	270.00M	5,733.80M
Tangible Assets	70,548.00M	68,591.00M	68,591.00M	63,943.00M	57,362.00M	50,398.00M	47,060.00M	45,182.00M	37,779.00M	34,248.00M	32,490.00M	30,357.00M	31,482.00M	30,058.00M	30,999.00M	30,015.10M	28,972.70M	24,932.80M	23,976.80M	21,959.10M	19,924.60M	19,298.60M	17,244.70M	20,946.80M	19,167.70M	19,178.80M	17,859.00M	7,279.10M	6,365.20M	7,330.00M	5,543.30M
Tangible Equity	-39,669.00M	-39,437.00M	-39,437.00M	-34,562.00M	-35,851.00M	-35,348.00M	-30,596.00M	-30,680.00M	-24,666.00M	-24,249.00M	-26,089.00M	-23,852.00M	-23,753.00M	-25,175.00M	-26,455.00M	-23,029.80M	-26,351.50M	-24,169.20M	-24,140.90M	-24,092.30M	-24,267.90M	-3,229.20M	-3,717.80M	1,034.10M	704.50M	669.80M	669.20M	-404.10M	431.20M	245.00M	175.60M
Tangible Book Value	-39,669.00M	-39,437.00M	-39,437.00M	-34,562.00M	-35,851.00M	-35,348.00M	-30,596.00M	-30,680.00M	-24,666.00M	-24,249.00M	-26,089.00M	-23,852.00M	-23,753.00M	-25,175.00M	-26,455.00M	-23,029.80M	-26,351.50M	-24,169.20M	-24,140.90M	-24,092.30M	-24,267.90M	-3,229.20M	-3,717.80M	1,034.10M	704.50M	669.80M	669.20M	-404.10M	431.20M	245.00M	175.60M
Total Investments	4,944.00M	4,592.00M	4,592.00M	3,780.00M	4,733.00M	4,174.00M	4,659.00M	4,732.00M	2,020.00M	1,852.00M	1,793.00M	1,666.00M	1,647.00M	1,624.00M	1,131.40M	2,016.20M	1,583.00M	1,290.80M	788.30M	809.90M	451.00M	1,835.90M	1,846.50M	1,680.10M	1,535.80M	448.20M	-1,059.40M	-24.70M	283.20M	389.00M	293.50M
Net Debt	24,830.00M	18,474.00M	18,474.00M	13,549.00M	16,343.00M	18,721.00M	19,147.00M	22,335.00M	16,195.00M	14,649.00M	14,764.00M	13,304.00M	14,736.00M	15,139.00M	13,857.10M	13,411.10M	14,224.10M	14,896.60M	15,877.10M	17,209.30M	16,208.80M	6,179.20M	6,434.90M	6,118.30M	4,960.80M	-2,858.70M	-2,057.00M	-910.90M	-228.20M	411.00M	-105.20M

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	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31
Working Capital	-9,760.0M	-8,102.0M	-8,102.0M	-5,273.0M	-6,568.0M	-6,130.0M	-1,429.0M	-3,278.0M	-2,427.0M	-3,753.0M	-4,900.0M	-4,538.0M	-2,972.0M	-4,507.0M	-3,402.0M	-2,364.2M	-1,953.9M	-2,450.0M	-3,076.9M	-2,309.1M	-621.1M	621.4M	626.9M	2,805.5M	1,689.1M	10,860.8M	564.8M	5,572.2M	549.6M	4,951.0M	402.0M
Total Capital	71,238.0M	66,208.0M	66,208.0M	59,536.0M	56,962.0M	55,717.0M	53,831.0M	52,892.0M	43,431.0M	39,197.0M	37,959.0M	34,106.0M	35,938.0M	34,940.0M	33,230.8M	33,760.7M	32,276.1M	30,505.8M	29,514.8M	28,968.9M	29,289.6M	11,970.0M	9,682.7M	9,162.1M	7,944.3M	1,911.8M	1,412.7M	1,754.0M	552.2M	1,681.0M	469.9M
Capital Employed	72,302.0M	74,458.0M	74,458.0M	68,215.0M	63,726.0M	58,764.0M	57,697.0M	57,652.0M	44,309.0M	39,774.0M	38,116.0M	34,730.0M	36,282.0M	35,878.0M	34,584.0M	34,838.3M	34,455.9M	32,147.5M	30,296.3M	30,249.6M	29,881.9M	11,787.2M	10,816.8M	12,513.9M	11,182.7M	20,302.7M	9,281.0M	7,978.6M	2,039.8M	7,355.0M	1,729.8M
Invested Capital	56,169.0M	51,009.0M	51,009.0M	43,909.0M	44,384.0M	44,652.0M	42,066.0M	44,635.0M	35,471.0M	32,390.0M	31,281.0M	28,474.0M	29,527.0M	29,335.0M	26,893.9M	26,388.3M	26,528.2M	24,948.9M	24,446.3M	24,745.1M	24,134.8M	10,826.0M	8,852.3M	8,503.9M	7,046.3M	-997.4M	-705.2M	683.3M	273.0M	992.0M	316.9M

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	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31
Net Income	9,372.00M	8,219.00M	5,274.00M	4,702.00M	4,417.00M	2,597.00M	1,242.00M	3,260.00M	2,983.00M	2,747.00M	2,505.00M	2,046.00M	2,486.00M	1,962.00M	2,025.20M	1,996.00M	1,900.60M	1,596.00M	1,699.10M	0.00M	2,269.40M	872.20M	0.00M	0.00M	0.00M	453.50M	299.80M	143.00M	92.30M	39.00M	-56.70M
Depreciation & Amortization	7,972.00M	7,122.00M	3,998.00M	3,800.00M	3,613.00M	3,219.00M	3,171.00M	3,040.00M	2,242.00M	2,128.00M	2,003.00M	2,033.00M	2,091.00M	2,060.00M	1,877.00M	1,810.70M	1,730.70M	1,814.00M	1,726.70M	1,578.90M	1,365.90M	689.50M	605.40M	0.00M	0.00M	122.30M	90.40M	0.00M	186.90M	0.00M	216.50M
Deferred Income Tax	-415.00M	-11,843.00M	0.00M	-415.00M	0.00M	116.00M	-37.00M	-157.00M	60.00M	0.00M	-299.00M	0.00M	0.00M	0.00M	-565.20M	0.00M	0.00M	-636.10M	-917.50M	-972.30M	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	939.00M	789.00M	230.00M	360.00M	356.00M	288.00M	239.00M	291.00M	206.00M	163.00M	118.00M	95.00M	102.00M	86.00M	-1.00M	10.90M	-17.70M	-30.60M	57.00M	15.00M	40.40M	33.60M	36.30M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	2,552.00M	-716.00M	2,311.00M	1,463.00M	392.00M	1,579.00M	2,330.00M	428.00M	-266.00M	-286.00M	23.00M	308.00M	-156.00M	6.00M	-37.00M	93.40M	-78.30M	608.80M	733.00M	686.90M	12.70M	119.90M	369.90M	113.00M	353.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Receivable	69.00M	0.00M	-277.00M	0.00M	0.00M	0.00M	2,006.00M	0.00M	0.00M	0.00M	0.00M	492.00M	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
Inventory	135.00M	0.00M	165.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	29.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	19.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	546.00M	1,496.00M	857.00M	0.00M	0.00M	0.00M	292.00M	0.00M	-124.00M	0.00M	0.00M	-228.00M	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 Working Capital	2,145.00M	-2,212.00M	1,566.00M	1,463.00M	392.00M	1,579.00M	32.00M	428.00M	-142.00M	-286.00M	-6.00M	44.00M	-156.00M	6.00M	-37.00M	93.40M	-78.30M	608.80M	733.00M	686.90M	-6.30M	119.90M	369.90M	113.00M	353.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Cash Items	2,260.00M	13,949.00M	-99.00M	630.00M	609.00M	7.00M	-270.00M	228.00M	-83.00M	-472.00M	-4.00M	40.00M	-890.00M	-466.00M	566.00M	26.60M	-150.00M	747.50M	842.60M	2,273.20M	-1,196.80M	-39.00M	832.50M	947.30M	764.60M	-575.80M	15.90M	486.00M	-279.20M	291.00M	-159.80M
Net Cash from Operating Activities	22,680.00M	17,520.00M	11,714.00M	10,540.00M	9,387.00M	7,806.00M	6,675.00M	7,090.00M	5,142.00M	4,280.00M	4,346.00M	4,522.00M	3,633.00M	3,648.00M	3,865.00M	3,937.60M	3,385.30M	4,099.60M	4,140.90M	3,581.70M	2,491.60M	1,676.20M	1,844.10M	1,060.30M	1,118.00M	859.80M	406.10M	629.00M	0.00M	330.00M	0.00M
Capital Expenditures (PPE)	-6,168.00M	-5,973.00M	-4,052.00M	-3,332.00M	-3,501.00M	-2,063.00M	-2,160.00M	-2,396.00M	-1,095.00M	-1,920.00M	-706.00M	-749.00M	-1,507.00M	-777.00M	-1,994.10M	-1,864.10M	-1,530.90M	-2,120.00M	-2,159.40M	-2,085.20M	-1,778.30M	-1,543.50M	-556.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Acquisitions (Net)	-5,581.00M	-7,259.00M	-4,597.00M	-391.00M	-1,996.00M	-3,936.00M	-173.00M	-3,568.00M	-1,397.00M	-930.00M	-3,108.00M	-392.00M	692.00M	-1,530.00M	-604.40M	-157.10M	-1,040.00M	-96.30M	-277.90M	-1,731.10M	-9,242.70M	-86.10M	81.20M	-36.00M	-26.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-42.00M	-34.00M	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	-441.90M	-222.20M	-1,218.40M	-418.80M	-2,349.20M	-718.20M	-71.60M	0.00M	0.00M
Sales / Maturities of Investments	111.00M	251.00M	0.00M	141.00M	140.00M	1,322.00M	42.00M	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	201.00M	89.30M	56.20M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Investing Activities	-2,130.00M	1,195.00M	-402.00M	-395.00M	59.00M	-1,127.00M	-241.00M	26.00M	-1,125.00M	-196.00M	-963.00M	-797.00M	477.00M	-2,476.00M	69.30M	-50.30M	-4.10M	74.70M	114.90M	150.60M	636.90M	228.00M	-553.60M	-485.10M	-274.10M	-469.60M	207.60M	-114.90M	-10.40M	-339.00M	35.70M
Net Cash from Investing Activities	-13,768.00M	-11,786.00M	-9,051.00M	-3,977.00M	-5,298.00M	-5,804.00M	-2,574.00M	-5,972.00M	-3,617.00M	-3,046.00M	-4,777.00M	-1,938.00M	-338.00M	-4,783.00M	-2,529.20M	-2,071.50M	-2,575.00M	-2,141.60M	-2,322.40M	-3,665.70M	-10,384.10M	-1,401.60M	-1,269.50M	-654.00M	-1,462.50M	-888.40M	-2,141.60M	-833.10M	-82.00M	-339.00M	35.70M
Net Debt Issuance	2,999.00M	-550.00M	2,124.00M	146.00M	-867.00M	-404.00M	-394.00M	1,716.00M	1,456.00M	854.00M	351.00M	-1,289.00M	28.00M	-397.00M	-916.00M	-96.70M	-582.10M	-678.70M	-593.60M	1,244.90M	5,704.50M	464.30M	212.90M	5.20M	-1.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Debt Issuance	2,999.00M	-550.00M	2,124.00M	825.00M	-867.00M	-404.00M	-394.00M	1,716.00M	1,456.00M	854.00M	351.00M	-1,289.00M	28.00M	-397.00M	-916.00M	-96.70M	-450.10M	-678.70M	-593.60M	1,244.90M	5,704.50M	614.00M	212.90M	5.20M	-1.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	-679.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-132.00M	0.00M	0.00M	0.00M	0.00M	-149.70M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-2,906.00M	-1,002.00M	-1,244.00M	-397.00M	-609.00M	137.00M	332.00M	-903.00M	-170.00M	-647.00M	-562.00M	-752.00M	-810.00M	-222.00M	-311.00M	-230.00M	218.90M	646.30M	181.00M	-569.80M	3,081.50M	-99.40M	-232.50M	18.30M	-47.80M	160.00M	2,163.30M	23.40M	22.70M	0.00M	0.00M
Common Stock Issuance	0.00M	951.00M	668.00M	709.00M	491.00M	739.00M	669.00M	560.00M	469.00M	443.00M	440.00M	0.00M	450.00M	785.00M	336.00M	393.50M	305.30M	648.80M	381.30M	369.70M	3,416.30M	270.40M	259.60M	53.10M	147.70M	160.00M	2,163.30M	23.40M	22.70M	0.00M	0.00M
Common Stock Repurchased	-2,906.00M	-1,953.00M	-1,912.00M	-397.00M	-1,100.00M	-602.00M	-336.00M	-903.00M	-639.00M	-647.00M	-562.00M	-752.00M	-810.00M	-222.00M	-647.00M	-623.50M	0.00M	0.00M	0.00M	0.00M	-310.40M	-369.80M	-492.10M	-34.80M	-195.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Stock Issuance	0.00M	0.00M	0.00M	-709.00M	0.00M	0.00M	-1.00M	-560.00M	0.00M	-1,090.00M	-440.00M	0.00M	-450.00M	-785.00M	0.00M	0.00M	-86.40M	-2.50M	-200.30M	-939.50M	-310.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-5,247.00M	-3,895.00M	-2,570.00M	-2,294.00M	-1,830.00M	-1,528.00M	-694.00M	-1,504.00M	-1,391.00M	-1,197.00M	-1,052.00M	-1,019.00M	-1,267.00M	-993.00M	-979.00M	-946.80M	-902.90M	-816.00M	-765.10M	-664.50M	-472.00M	-321.70M	-287.20M	-138.00M	-126.40M	-160.20M	-76.50M	-27.90M	-2.20M	-24.00M	0.00M
Common Dividends Paid	-5,247.00M	-3,895.00M	-2,570.00M	-2,294.00M	-1,830.00M	-1,528.00M	-694.00M	-1,504.00M	-1,391.00M	-1,197.00M	-1,052.00M	-1,019.00M	-1,267.00M	-993.00M	-979.00M	-946.80M	-902.90M	-816.00M	-765.10M	-664.50M	-472.00M	-321.70M	-287.20M	-138.00M	-50.80M	-45.70M	-28.00M	-4.00M	0.00M	-24.00M	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	0.00M	0.00M	-126.40M	-114.50M	-48.50M	-23.90M	-2.20M	0.00M	0.00M
Other Financing Activities	638.00M	131.00M	-1,337.00M	-887.00M	523.00M	-1,464.00M	714.00M	35.00M	57.00M	-210.00M	1,081.00M	-49.00M	-67.00M	365.00M	126.00M	844.40M	256.20M	-693.80M	339.50M	-804.30M	-107.20M	-256.90M	-183.80M	-57.40M	-48.50M	15.60M	11.30M	-0.50M	0.00M	131.00M	350.00M
Net Cash from Financing Activities	-4,516.00M	-5,316.00M	-3,027.00M	-3,432.00M	-2,783.00M	-3,259.00M	-42.00M	-656.00M	-48.00M	-1,200.00M	-182.00M	-3,109.00M	-2,116.00M	-1,247.00M	-2,080.00M	-429.10M	-1,009.90M	-1,542.20M	-838.20M	-793.70M	8,206.80M	-213.70M	-490.60M	-171.90M	-223.80M	15.40M	2,098.10M	-5.00M	20.50M	107.00M	350.00M
Effect of FX on Cash	-165.00M	0.00M	-24.00M	0.00M	1.00M	0.00M	0.00M	0.00M	-398.00M	41.00M	1,164.00M	111.00M	-640.00M	0.00M	-24.30M	40.30M	449.00M	0.00M	-60.90M	-16.00M	-39.50M	28.10M	2.40M	-1.30M	315.60M	-203.10M	-2,263.70M	-250.30M	26.10M	0.00M	347.10M
Net Change in Cash	18,752.00M	420.00M	-404.00M	3,206.00M	1,307.00M	-1,238.00M	4,080.00M	564.00M	1,079.00M	75.00M	551.00M	-414.00M	539.00M	-794.00M	-768.00M	1,443.00M	249.40M	425.60M	919.40M	-893.70M	494.10M	89.00M	86.40M	233.10M	-252.70M	-216.30M	-1,908.80M	-631.50M	-84.70M	98.00M	732.80M
Cash at Beginning of Period	22,633.00M	43,616.00M	14,701.00M	11,495.00M	10,188.00M	11,426.00M	7,346.00M	6,782.00M	5,703.00M	5,628.00M	5,077.00M	5,491.00M	4,952.00M	5,746.00M	6,514.00M	5,071.10M	4,821.70M	4,513.40M	3,594.00M	4,487.70M	3,993.60M	449.90M	363.50M	-2,680.60M	-2,071.70M	-1,855.40M	53.40M	684.90M	769.60M	260.00M	0.00M
Cash at End of Period	56,209.00M	44,035.00M	14,297.00M	14,701.00M	11,495.00M	10,188.00M	11,426.00M	7,346.00M	6,782.00M	5,703.00M	5,628.00M	5,077.00M	5,491.00M	4,952.00M	5,746.00M	6,514.10M	5,071.10M	4,956.30M	4,513.40M	3,594.00M	4,487.70M	538.90M	449.90M	-2,447.50M	-2,492.90M	-2,071.70M	-1,855.40M	53.40M	684.90M	358.00M	732.80M
Operating Cash Flow	22,680.00M	17,520.00M	11,714.00M	10,540.00M	9,387.00M	7,806.00M	6,675.00M	7,090.00M	5,142.00M	4,280.00M	4,346.00M	4,522.00M	3,633.00M	3,648.00M	3,865.00M	3,937.60M	3,385.30M	4,099.60M	4,140.90M	3,583.50M	2,491.60M	1,676.20M	1,844.10M	1,060.30M	1,118.00M	859.80M	406.10M	629.00M	0.00M	330.00M	0.00M
Capital Expenditure	-6,168.00M	-5,973.00M	-4,052.00M	-3,332.00M	-3,501.00M	-2,063.00M	-2,160.00M	-2,396.00M	-1,095.00M	-865.00M	-706.00M	-749.00M	-744.00M	-777.00M	-1,994.00M	-1,864.10M	-1,530.90M	-2,120.00M	-2,210.70M	-2,085.20M	-1,977.10M	-1,543.50M	-1,124.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Free Cash Flow	16,512.00M	11,547.00M	7,662.00M	7,208.00M	5,886.00M	5,743.00M	4,515.00M	4,694.00M	4,047.00M	3,415.00M	3,640.00M	3,773.00M	2,889.00M	2,871.00M	1,871.00M	2,073.50M	1,854.40M	1,979.60M	1,930.20M	1,498.30M	514.50M	132.70M	719.60M	1,060.30M	1,118.00M	859.80M	406.10M	629.00M	0.00M	330.00M	0.00M

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	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31	1996-12-31
EBITDA	27,268.00M	21,535.00M	46,341.00M	10,997.00M	11,303.00M	8,759.00M	3,285.00M	9,645.00M	8,130.00M	7,657.00M	7,115.00M	6,782.00M	6,721.00M	6,721.00M	18,744.10M	21,926.30M	15,481.20M	15,450.80M	15,765.00M	14,936.30M	12,317.30M	9,344.10M	8,661.20M	6,755.90M	6,514.90M	17,294.70M	14,217.20M	9,028.10M	8,464.10M	6,631.00M	7,077.20M
(-) Tax Adjustment	8,277.32M	6,137.29M	13,206.18M	3,003.45M	3,190.85M	3,065.65M	1,149.75M	3,125.73M	2,577.32M	2,369.05M	2,027.42M	2,283.76M	1,978.98M	2,307.92M	6,271.69M	7,238.37M	4,773.93M	4,710.06M	4,918.58M	4,891.30M	4,009.84M	2,947.11M	2,734.66M	1,497.76M	2,073.73M	4,362.58M	1,297.10M	1,716.41M	0.00M	2,320.85M	0.00M
(-) Change In Working Capital	2,552.00M	-716.00M	2,311.00M	1,463.00M	392.00M	1,579.00M	2,330.00M	428.00M	-266.00M	-286.00M	23.00M	308.00M	-156.00M	6.00M	-37.00M	93.40M	-78.30M	608.80M	733.00M	686.90M	12.70M	119.90M	369.90M	113.00M	353.40M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
(-) Capital Expenditure	-6,168.00M	-5,973.00M	-4,052.00M	-3,332.00M	-3,501.00M	-2,063.00M	-2,160.00M	-2,396.00M	-1,095.00M	-865.00M	-706.00M	-749.00M	-744.00M	-777.00M	-1,994.00M	-1,864.10M	-1,530.90M	-2,120.00M	-2,210.70M	-2,085.20M	-1,977.10M	-1,543.50M	-1,124.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Unlevered Free Cash Flow	10,270.68M	10,140.71M	26,771.82M	3,198.55M	4,219.15M	2,051.35M	-2,354.75M	3,695.27M	4,723.68M	4,708.95M	4,358.58M	3,441.24M	4,154.02M	3,630.08M	10,515.41M	12,730.43M	9,254.67M	8,011.94M	7,902.72M	7,272.90M	6,317.66M	4,733.59M	4,432.14M	5,145.14M	4,087.77M	12,932.12M	12,920.10M	7,311.69M	8,464.10M	4,310.15M	7,077.20M
(-) Net Interest Income After Taxes	-881.00M	687.12M	-1,008.18M	-854.09M	-541.14M	-487.50M	-364.00M	-410.96M	-416.62M	-415.74M	-504.82M	-474.23M	-563.74M	-510.19M	-528.33M	-521.16M	-546.94M	-496.20M	-594.02M	-545.42M	-392.26M	-61.13M	23.74M	-56.74M	-104.23M	0.00M	-86.15M	4.78M	-19.80M	11.05M	0.00M
Net Debt Issuance	2,999.00M	-550.00M	2,124.00M	146.00M	-867.00M	-404.00M	-394.00M	1,716.00M	1,456.00M	854.00M	351.00M	-1,289.00M	28.00M	-397.00M	-916.00M	-96.70M	-582.10M	-678.70M	-593.60M	1,244.90M	5,704.50M	464.30M	212.90M	5.20M	-1.10M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Levered Free Cash Flow	14,150.68M	8,903.58M	29,904.00M	4,198.63M	3,893.29M	2,134.85M	-2,384.75M	5,822.23M	6,596.30M	5,978.70M	5,214.40M	2,626.48M	4,745.75M	3,743.27M	10,127.74M	13,154.90M	9,219.51M	7,829.44M	7,903.14M	9,063.21M	12,414.43M	5,259.02M	4,621.29M	5,207.08M	4,190.91M	12,932.12M	13,006.25M	7,306.92M	8,483.90M	4,299.10M	7,077.20M