Becton, Dickinson and Company (BDX)

Industry: Medical - Instruments & Supplies Sector: Healthcare Currency Used: US Live Price: $207.11

Enterprise Value

Metric	MRQ	MRQ-1	2025	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	187.17	172.25	196.16	235.32	253.48	245.75	239.75	232.02	251.26	230.56	192.20	162.50	139.42	119.03	98.83	75.45	76.49	74.33	69.99	76.97	77.44	64.23	54.45	50.89	36.70	31.65	34.36	28.29	30.06	38.18	23.70	20.56
Market Capitalization	53,645.17M	49,607.48M	56,438.69M	68,137.25M	72,957.17M	69,991.38M	68,997.72M	65,890.17M	67,177.84M	61,614.48M	42,793.01M	34,623.35M	28,891.49M	22,967.90M	19,229.98M	15,161.38M	16,617.76M	17,177.99M	16,707.19M	18,737.23M	18,954.94M	15,845.71M	13,644.03M	12,800.37M	9,225.86M	8,147.54M	8,889.43M	7,139.15M	7,482.43M	9,739.64M	5,848.83M	5,260.72M
(-) Cash & Equivalents	851.00M	735.00M	751.00M	2,308.75M	1,375.00M	1,830.75M	2,768.25M	2,826.50M	576.25M	1,179.50M	7,425.75M	1,460.50M	1,619.50M	3,448.25M	1,888.74M	1,771.71M	1,319.55M	1,011.53M	1,112.72M	681.25M	529.02M	757.81M	988.94M	715.35M	448.80M	206.41M	96.72M	67.55M	67.93M	107.10M	125.85M	158.08M
(+) Total Debt	19,181.00M	19,341.00M	19,264.00M	19,050.50M	16,748.75M	16,880.25M	17,621.50M	18,908.75M	19,898.00M	21,901.75M	17,747.50M	11,748.75M	13,160.00M	5,513.00M	4,019.63M	4,169.42M	3,086.51M	1,951.22M	1,656.81M	1,159.65M	1,163.16M	1,267.91M	1,283.83M	1,183.88M	1,288.64M	1,262.15M	1,300.05M	1,474.04M	1,480.30M	1,175.63M	764.50M	718.75M
Enterprise Value	71,975.17M	68,213.48M	74,951.69M	84,879.00M	88,330.92M	85,040.88M	83,850.97M	81,972.42M	86,499.59M	82,336.73M	53,114.76M	44,911.60M	40,431.99M	25,032.65M	21,360.87M	17,559.09M	18,384.72M	18,117.67M	17,251.28M	19,215.63M	19,589.09M	16,355.81M	13,938.92M	13,268.90M	10,065.70M	9,203.28M	10,092.76M	8,545.64M	8,894.81M	10,808.17M	6,487.48M	5,821.39M

Income Statement

Metric	TTM	TTM-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Revenue	21,839M	20,178M	21,839M	20,178M	19,372M	18,870M	19,131M	16,074M	17,290M	15,983M	12,093M	12,483M	10,282M	8,446M	8,054M	7,708M	7,584M	7,124M	6,987M	7,075M	6,360M	5,738M	5,415M	4,935M	4,464M	3,960M	3,754M	3,618M	3,418M	3,117M	2,811M	2,770M
Cost of Revenue	11,915M	11,025M	11,915M	11,053M	11,202M	10,393M	10,500M	9,276M	9,002M	8,714M	6,128M	6,492M	5,587M	4,145M	3,883M	3,755M	3,625M	3,428M	3,312M	3,447M	3,072M	2,793M	2,662M	2,500M	2,297M	2,049M	1,913M	1,560M	1,453M	1,312M	1,204M	1,229M
Gross Profit	9,924M	9,153M	9,924M	9,125M	8,170M	8,477M	8,631M	6,798M	8,288M	7,269M	5,965M	5,991M	4,695M	4,301M	4,171M	3,953M	3,959M	3,696M	3,675M	3,628M	3,288M	2,945M	2,753M	2,434M	2,167M	1,911M	1,841M	2,058M	1,966M	1,805M	1,607M	1,541M
Gross Profit Margin	45.4%	45.4%	45.4%	45.2%	42.2%	44.9%	45.1%	42.3%	47.9%	45.5%	49.3%	48.0%	45.7%	50.9%	51.8%	51.3%	52.2%	51.9%	52.6%	51.3%	51.7%	51.3%	50.8%	49.3%	48.5%	48.3%	49.0%	56.9%	57.5%	57.9%	57.2%	55.6%
R&D Expenses	1,264M	1,190M	1,264M	1,190M	1,237M	1,256M	1,279M	1,039M	1,062M	1,004M	770M	828M	632M	550M	494M	472M	470M	423M	405M	396M	360M	302M	272M	236M	224M	207M	212M	224M	254M	218M	181M	0M
SG&A Expenses	5,277M	4,858M	5,277M	4,857M	4,719M	4,709M	4,719M	4,185M	4,332M	4,016M	2,909M	3,005M	2,563M	2,145M	2,422M	1,923M	1,824M	1,691M	1,681M	1,696M	1,602M	1,448M	1,450M	1,311M	1,181M	1,008M	983M	974M	932M	862M	766M	909M
Operating Expenses	7,347M	6,558M	7,347M	6,728M	6,059M	6,195M	6,381M	5,886M	6,528M	5,760M	4,443M	4,561M	3,621M	2,695M	2,917M	2,395M	2,293M	2,114M	2,085M	2,091M	2,085M	1,803M	1,722M	1,647M	1,406M	1,236M	1,195M	1,486M	1,445M	1,308M	1,157M	1,110M
Operating Income (EBIT)	2,577M	2,595M	2,577M	2,397M	2,111M	2,282M	2,250M	912M	1,760M	1,509M	1,522M	1,430M	1,074M	1,606M	1,254M	1,558M	1,666M	1,582M	1,590M	1,537M	1,203M	1,141M	1,030M	787M	761M	674M	646M	572M	521M	496M	451M	431M
Operating Income Margin	11.8%	12.9%	11.8%	11.9%	10.9%	12.1%	11.8%	5.7%	10.2%	9.4%	12.6%	11.5%	10.4%	19.0%	15.6%	20.2%	22.0%	22.2%	22.8%	21.7%	18.9%	19.9%	19.0%	16.0%	17.1%	17.0%	17.2%	15.8%	15.2%	15.9%	16.0%	15.6%
Interest Income	38M	163M	38M	163M	49M	16M	9M	7M	12M	65M	76M	21M	15M	46M	40M	50M	43M	35M	33M	39M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	613M	528M	613M	528M	452M	398M	469M	528M	639M	706M	521M	388M	371M	135M	138M	135M	84M	51M	40M	36M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	-575M	-365M	-575M	-365M	-403M	-382M	-460M	-521M	-627M	-641M	-445M	-367M	-356M	-89M	-98M	-85M	-41M	-16M	-7M	3M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	-120M	-196M	-120M	-27M	-46M	-117M	-98M	23M	43M	305M	-101M	11M	21M	5M	9M	-1M	-7M	0M	-4M	-1M	1M	-16M	-25M	-34M	-39M	-47M	-69M	-52M	-148M	-156M	-28M	-38M
EBT Excluding Unusual Items	2,002M	2,230M	2,002M	2,032M	1,708M	1,900M	1,790M	391M	1,133M	868M	1,077M	1,063M	718M	1,517M	1,156M	1,473M	1,625M	1,566M	1,582M	1,540M	1,203M	1,141M	1,030M	787M	761M	674M	646M	572M	521M	496M	451M	431M
Pre-Tax Income	1,882M	2,034M	1,882M	2,005M	1,662M	1,783M	1,692M	414M	1,176M	1,173M	976M	1,074M	739M	1,522M	1,165M	1,472M	1,618M	1,567M	1,579M	1,538M	1,204M	1,126M	1,005M	753M	722M	627M	577M	520M	373M	341M	423M	394M
Pre-Tax Margin	8.6%	10.1%	8.6%	9.9%	8.6%	9.4%	8.8%	2.6%	6.8%	7.3%	8.1%	8.6%	7.2%	18.0%	14.5%	19.1%	21.3%	22.0%	22.6%	21.7%	18.9%	19.6%	18.6%	15.3%	16.2%	15.8%	15.4%	14.4%	10.9%	10.9%	15.0%	14.2%
Income Tax Expense	204M	307M	204M	300M	132M	148M	88M	62M	-57M	862M	-124M	97M	44M	337M	236M	363M	417M	452M	411M	423M	348M	311M	313M	170M	167M	148M	138M	127M	97M	104M	123M	110M
Net Income	1,678M	1,726M	1,678M	1,705M	1,484M	1,779M	2,092M	874M	1,233M	311M	1,100M	976M	695M	1,185M	1,293M	1,170M	1,271M	1,318M	1,232M	1,127M	890M	752M	722M	467M	547M	480M	402M	393M	276M	237M	300M	284M
Net Income Margin	7.7%	8.6%	7.7%	8.4%	7.7%	9.4%	10.9%	5.4%	7.1%	1.9%	9.1%	7.8%	6.8%	14.0%	16.1%	15.2%	16.8%	18.5%	17.6%	15.9%	14.0%	13.1%	13.3%	9.5%	12.3%	12.1%	10.7%	10.9%	8.1%	7.6%	10.7%	10.2%
Depreciation & Amortization	2,462M	2,144M	2,462M	2,286M	2,288M	2,229M	2,230M	2,115M	2,253M	1,978M	1,088M	1,114M	891M	562M	546M	511M	494M	491M	465M	477M	441M	402M	387M	357M	336M	297M	306M	288M	259M	229M	210M	201M
EBITDA	5,039M	4,739M	5,039M	4,683M	4,399M	4,511M	4,480M	3,027M	4,013M	3,487M	2,610M	2,544M	1,965M	2,168M	1,800M	2,069M	2,160M	2,074M	2,054M	2,014M	1,645M	1,544M	1,418M	1,144M	1,097M	971M	952M	861M	780M	725M	660M	632M
EBITDA Margin	23.1%	23.5%	23.1%	23.2%	22.7%	23.9%	23.4%	18.8%	23.2%	21.8%	21.6%	20.4%	19.1%	25.7%	22.3%	26.8%	28.5%	29.1%	29.4%	28.5%	25.9%	26.9%	26.2%	23.2%	24.6%	24.5%	25.3%	23.8%	22.8%	23.3%	23.5%	22.8%
NOPAT	2,298M	2,203M	2,298M	2,038M	1,943M	2,093M	2,133M	775M	1,845M	400M	1,715M	1,301M	1,010M	1,250M	1,000M	1,174M	1,237M	1,126M	1,176M	1,115M	856M	826M	710M	609M	585M	515M	491M	432M	385M	345M	320M	311M
NOPAT Margin	10.5%	10.9%	10.5%	10.1%	10.0%	11.1%	11.1%	4.8%	10.7%	2.5%	14.2%	10.4%	9.8%	14.8%	12.4%	15.2%	16.3%	15.8%	16.8%	15.8%	13.5%	14.4%	13.1%	12.3%	13.1%	13.0%	13.1%	12.0%	11.3%	11.1%	11.4%	11.2%
Owner's Earnings	3,380M	3,145M	3,380M	3,266M	2,898M	3,035M	3,091M	2,179M	2,529M	1,394M	1,461M	1,372M	953M	1,094M	1,251M	1,127M	1,160M	1,177M	996M	953M	753M	673M	792M	559M	622M	517M	337M	305M	-151M	-253M	139M	322M
Owner's Earnings Margin	15.5%	15.6%	15.5%	16.2%	15.0%	16.1%	16.2%	13.6%	14.6%	8.7%	12.1%	11.0%	9.3%	13.0%	15.5%	14.6%	15.3%	16.5%	14.2%	13.5%	11.8%	11.7%	14.6%	11.3%	13.9%	13.1%	9.0%	8.4%	-4.4%	-8.1%	4.9%	11.6%
EPS (Basic)	5.84	5.95	5.84	5.88	4.97	5.93	6.92	2.75	3.96	0.62	4.70	4.59	3.43	6.13	6.63	5.59	5.75	5.62	5.12	4.61	3.63	3.04	2.87	1.85	2.14	1.85	1.55	1.54	1.09	0.95	1.15	1.06
EPS (Diluted)	5.81	5.94	5.84	5.86	5.15	6.19	7.16	3.09	4.49	1.18	4.92	4.49	3.35	5.99	6.49	5.59	5.62	5.49	4.99	4.46	3.49	2.93	2.77	1.78	2.08	1.80	1.50	1.50	1.05	0.91	1.16	1.07
Shares (Basic)	288M	290M	287M	290M	286M	285M	289M	279M	270M	258M	219M	213M	203M	193M	195M	205M	221M	234M	240M	244M	245M	247M	252M	252M	255M	258M	257M	253M	250M	246M	259M	264M
Shares (Diluted)	289M	291M	287M	291M	288M	287M	292M	282M	275M	265M	224M	218M	208M	198M	199M	209M	226M	240M	247M	253M	255M	257M	261M	263M	263M	267M	268M	262M	262M	259M	259M	264M

Product Segments

Metric	TTM	TTM-1	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30
Biosciences	—	—	—	—	—	—	—	—	—	—	—	—	1,159.00M	1,102.00M	1,079.63M	1,341.12M
Diagnostics	—	—	—	—	—	—	—	—	—	—	—	—	2,713.00M	2,646.00M	3,775.22M	3,683.16M
Interventional	5,109.00M	4,923.00M	4,980.00M	4,736.00M	4,464.00M	4,239.00M	3,762.00M	3,926.00M	3,037.00M	—	—	—	—	—	—	—
Life Sciences	5,137.00M	5,182.00M	5,191.00M	5,133.00M	5,564.00M	6,530.00M	4,675.00M	4,300.00M	4,330.00M	3,988.00M	3,829.00M	3,822.00M	—	—	—	—
Medical	11,139.00M	9,791.00M	10,074.00M	9,502.00M	8,841.00M	9,479.00M	8,680.00M	9,064.00M	8,616.00M	8,105.00M	8,654.00M	6,460.00M	4,573.00M	4,306.00M	4,090.69M	4,007.30M

Geographic Segments

Metric	TTM	TTM-1	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30
Asia	—	—	2,906.00M	2,913.00M	3,047.00M	3,272.00M	2,568.00M	2,726.00M	2,460.00M	1,744.00M	1,692.00M	1,545.00M	1,121.00M	1,006.00M	883.29M	—	684.32M
Europe	—	—	4,402.00M	4,244.00M	4,043.00M	4,751.00M	3,480.00M	3,359.00M	3,298.00M	2,588.00M	3,049.00M	2,434.00M	2,733.00M	2,512.00M	2,378.75M	—	2,386.97M
Others Country	—	—	1,207.00M	1,102.00M	1,058.00M	1,255.00M	1,353.00M	1,476.00M	1,457.00M	1,257.00M	849.00M	1,234.00M	1,175.00M	1,183.00M	1,158.63M	—	1,014.48M
Segment Geographical Groups Of Countries Group Four	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,158.53M	—
Segment Geographical Groups Of Countries Group Three	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	817.32M	—
Segment, Geographical, Groups of Countries, Group One	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3,355.77M	—
Segment, Geographical, Groups of Countries, Group Two	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2,497.28M	—
UNITED STATES	12,486.00M	11,424.00M	11,663.00M	11,113.00M	10,722.00M	10,969.00M	9,716.00M	9,730.00M	8,768.00M	6,504.00M	6,893.00M	5,069.00M	3,417.00M	3,353.00M	3,287.72M	—	3,286.57M

Balance Sheet

Metric	MRQ	MRQ-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Cash & Cash Equivalents	851.00M	735.00M	851.00M	1,717.00M	1,416.00M	1,006.00M	2,283.00M	2,825.00M	536.00M	1,140.00M	14,179.00M	1,541.00M	1,424.00M	1,861.00M	1,890.00M	1,671.17M	1,175.28M	1,215.99M	1,394.24M	830.48M	511.48M	1,000.29M	1,042.89M	719.38M	519.89M	243.12M	82.13M	49.20M	59.90M	83.30M	112.60M	135.20M
Short-Term Investments	8.00M	22.00M	8.00M	445.00M	8.00M	8.00M	12.00M	20.00M	30.00M	17.00M	37.00M	366.00M	95.00M	884.00M	718.00M	509.57M	388.03M	528.21M	551.56M	199.94M	158.04M	106.39M	86.81M	32.12M	0.00M	1.85M	4.57M	5.56M	4.70M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	859.00M	757.00M	859.00M	2,162.00M	1,424.00M	1,014.00M	2,295.00M	2,845.00M	566.00M	1,157.00M	14,216.00M	1,907.00M	1,519.00M	2,745.00M	2,608.00M	2,180.73M	1,563.31M	1,744.20M	1,945.81M	1,030.42M	669.52M	1,106.68M	1,129.70M	751.50M	519.89M	244.97M	86.70M	54.76M	64.60M	83.30M	112.60M	135.20M
Net Receivables	2,994.00M	2,943.00M	2,994.00M	3,033.00M	2,534.00M	2,191.00M	2,350.00M	2,398.00M	2,345.00M	2,319.00M	1,744.00M	1,618.00M	1,693.00M	1,187.00M	1,240.00M	1,250.00M	1,228.64M	1,205.38M	1,168.66M	1,079.05M	1,083.15M	885.75M	842.81M	807.38M	772.07M	746.00M	768.05M	751.72M	812.50M	726.60M	595.70M	580.30M
Inventory	3,894.00M	3,949.00M	3,894.00M	3,843.00M	3,273.00M	3,224.00M	2,743.00M	2,743.00M	2,579.00M	2,451.00M	1,818.00M	1,719.00M	1,959.00M	1,495.00M	1,402.00M	1,240.68M	1,244.97M	1,145.34M	1,156.76M	1,080.43M	1,051.96M	875.74M	775.95M	738.78M	795.01M	697.70M	707.74M	678.68M	642.50M	536.80M	438.30M	402.50M
Other Current Assets	1,508.00M	1,348.00M	1,508.00M	1,430.00M	1,445.00M	153.00M	402.00M	92.00M	55.00M	233.00M	0.00M	643.00M	0.00M	1.00M	0.00M	135.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	63.69M	195.30M	0.00M	0.00M	175.52M	164.10M	196.10M	166.00M	158.80M
Total Current Assets	9,255.00M	8,997.00M	9,255.00M	10,468.00M	8,676.00M	6,582.00M	7,790.00M	8,078.00M	5,545.00M	6,160.00M	17,778.00M	5,887.00M	5,171.00M	5,428.00M	5,250.00M	4,806.41M	4,036.92M	4,094.91M	4,271.23M	3,189.90M	2,804.63M	2,868.16M	2,748.45M	2,361.35M	2,282.27M	1,688.66M	1,562.49M	1,660.68M	1,683.70M	1,542.80M	1,312.60M	1,276.80M
Property, Plant & Equipment	6,997.00M	6,818.00M	6,997.00M	6,821.00M	6,557.00M	6,012.00M	6,003.00M	5,923.00M	5,659.00M	5,375.00M	4,638.00M	3,901.00M	4,060.00M	3,605.00M	3,476.00M	3,303.93M	3,211.20M	3,100.49M	2,966.63M	2,744.47M	2,497.34M	2,133.55M	1,933.72M	1,881.00M	1,844.77M	1,765.73M	1,716.02M	1,576.06M	1,431.10M	1,302.70M	1,250.70M	1,244.10M
Goodwill	33,023.00M	26,597.00M	33,023.00M	26,465.00M	24,522.00M	24,621.00M	23,886.00M	23,620.00M	23,376.00M	23,600.00M	7,563.00M	7,419.00M	7,537.00M	1,090.00M	1,109.00M	1,076.08M	991.12M	763.96M	621.87M	625.77M	621.41M	565.15M	0.00M	0.00M	0.00M	0.00M	431.45M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	2,994.00M	9,788.00M	2,994.00M	10,917.00M	10,947.00M	12,309.00M	12,784.00M	13,813.00M	14,977.00M	16,441.00M	5,893.00M	6,351.00M	7,387.00M	1,126.00M	1,206.00M	1,158.87M	1,115.17M	793.40M	603.87M	571.69M	613.46M	525.67M	571.61M	755.22M	648.50M	902.25M	469.33M	639.06M	1,034.70M	746.30M	331.90M	175.90M
Long-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	38.00M	796.00M	1,118.00M	9.00M	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
Tax Assets	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	3,056.00M	2,702.00M	3,056.00M	2,615.00M	2,078.00M	1,848.00M	2,368.00M	1,687.00M	1,088.00M	1,078.00M	969.00M	824.00M	717.00M	488.00M	487.00M	500.00M	444.61M	487.59M	465.30M	356.33M	466.59M	414.91M	256.98M	475.03M	495.37M	443.77M	422.54M	629.30M	287.50M	254.20M	185.10M	193.00M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	3.00M	1.00M	0.00M	1.00M	-1.00M	1.00M	-1.00M	0.00M	-2.00M	-2.00M	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	46,070.00M	45,905.00M	46,070.00M	46,818.00M	44,104.00M	44,793.00M	45,042.00M	45,043.00M	45,101.00M	46,493.00M	19,102.00M	19,290.00M	20,819.00M	6,316.00M	6,276.00M	6,038.87M	5,762.10M	5,145.44M	4,657.67M	4,298.27M	4,198.80M	3,639.27M	2,762.31M	3,111.25M	2,988.65M	3,111.75M	3,039.35M	2,844.42M	2,753.30M	2,303.20M	1,767.70M	1,613.00M
Total Assets	55,325.00M	54,902.00M	55,325.00M	57,286.00M	52,780.00M	51,375.00M	52,832.00M	53,121.00M	50,646.00M	52,653.00M	36,880.00M	25,177.00M	25,990.00M	11,744.00M	11,526.00M	10,845.28M	9,799.02M	9,240.35M	8,928.90M	7,488.16M	7,003.43M	6,507.43M	5,510.76M	5,472.59M	5,270.92M	4,800.41M	4,601.84M	4,505.10M	4,437.00M	3,846.00M	3,080.30M	2,889.80M
Accounts Payable	0.00M	6,350.00M	0.00M	1,896.00M	1,641.00M	1,699.00M	1,739.00M	1,355.00M	1,092.00M	1,106.00M	797.00M	665.00M	631.00M	401.00M	333.00M	350.00M	304.84M	325.40M	264.18M	260.88M	266.99M	243.60M	1,092.87M	206.94M	221.46M	224.65M	205.05M	183.97M	209.40M	208.50M	128.50M	128.00M
Short-Term Debt	1,560.00M	1,810.00M	1,560.00M	2,170.00M	1,141.00M	2,179.00M	500.00M	706.00M	1,309.00M	2,601.00M	203.00M	1,001.00M	1,452.00M	203.00M	207.00M	405.00M	234.93M	202.76M	402.97M	201.31M	207.63M	427.22M	206.51M	49.29M	121.92M	434.64M	454.01M	637.74M	631.30M	385.20M	132.40M	227.40M
Tax Payables	0.00M	0.00M	0.00M	168.00M	139.00M	157.00M	178.00M	144.00M	140.00M	343.00M	176.00M	274.00M	33.00M	26.00M	19.00M	3.88M	11.04M	28.80M	3.67M	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 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	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 Current Liabilities	6,753.00M	0.00M	6,753.00M	0.00M	1.00M	0.00M	156.00M	0.00M	0.00M	1.00M	0.00M	189.00M	-1.00M	1.00M	0.00M	0.00M	0.00M	0.00M	0.00M	406.38M	522.75M	415.08M	-439.89M	408.92M	337.13M	282.93M	50.13M	531.84M	488.60M	498.20M	417.30M	410.70M
Total Current Liabilities	8,313.00M	8,160.00M	8,313.00M	4,234.00M	2,922.00M	4,035.00M	2,573.00M	2,205.00M	2,541.00M	4,051.00M	1,176.00M	2,129.00M	2,115.00M	631.00M	559.00M	758.88M	550.81M	556.96M	670.81M	868.57M	997.38M	1,085.90M	859.48M	665.15M	680.51M	942.22M	709.19M	1,353.54M	1,329.30M	1,091.90M	678.20M	766.10M
Long-Term Debt	17,621.00M	17,531.00M	17,621.00M	17,940.00M	14,738.00M	13,886.00M	17,110.00M	17,224.00M	18,081.00M	18,894.00M	18,667.00M	10,550.00M	11,370.00M	3,768.00M	3,763.00M	3,761.11M	2,484.67M	1,495.36M	1,488.46M	953.23M	955.71M	956.97M	1,060.83M	1,171.51M	1,184.03M	802.97M	783.00M	779.57M	954.20M	765.20M	665.40M	468.20M
Capital Lease Obligations	0.00M	908.00M	0.00M	0.00M	1,023.00M	0.00M	0.00M	1,435.00M	1,272.00M	1,056.00M	0.00M	1,319.00M	0.00M	0.00M	0.00M	0.00M	1,068,483.00M	899,109.00M	782,034.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	5,052.00M	5,209.00M	5,753.00M	5,676.00M	5,743.00M	1,609.00M	1,684.00M	2,430.00M	383.00M	408.00M	262.00M	225.88M	149.98M	114.33M	142.59M	88.01M	184.53M	147.70M	88.91M	119.09M	105.46M	90.12M	86.49M	40.70M	48.50M	44.70M	35.10M
Other Non-Current Liabilities	4,002.00M	3,738.00M	4,002.00M	4,501.00M	5,604.00M	903.00M	1,258.00M	1,434.00M	1,271.00M	1,057.00M	1,168.00M	1,318.00M	1,132.00M	1,008.00M	806.00M	1,224.00M	1,068.48M	899.11M	782.03M	464.98M	444.87M	270.50M	340.94M	374.22M	328.81M	391.61M	335.73M	329.50M	344.10M	326.60M	306.60M	295.20M
Total Non-Current Liabilities	21,623.00M	22,177.00M	21,623.00M	22,441.00M	21,365.00M	19,841.00M	23,577.00M	25,846.00M	26,300.00M	26,750.00M	21,444.00M	14,871.00M	14,932.00M	5,159.00M	4,977.00M	5,247.11M	1,072,262.03M	901,653.44M	784,418.82M	1,560.80M	1,488.60M	1,411.99M	1,549.47M	1,634.63M	1,631.93M	1,300.03M	1,208.84M	1,195.56M	1,339.00M	1,140.30M	1,016.70M	798.50M
Total Liabilities	29,936.00M	30,337.00M	29,936.00M	26,675.00M	24,287.00M	23,876.00M	26,150.00M	28,051.00M	28,841.00M	30,801.00M	22,620.00M	17,000.00M	17,047.00M	5,790.00M	5,536.00M	6,005.99M	1,072,812.83M	902,210.40M	785,089.63M	2,429.37M	2,485.98M	2,497.90M	2,408.95M	2,299.78M	2,312.44M	2,242.25M	1,918.03M	2,549.10M	2,668.30M	2,232.20M	1,694.90M	1,564.60M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	2.00M	2.00M	2.00M	2.00M	2.00M	2.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	31.14M	34.45M	37.95M	40.53M	43.57M	46.70M	49.00M	51.10M	52.90M
Common Stock	371.00M	371.00M	371.00M	371.00M	371.00M	365.00M	365.00M	365.00M	347.00M	347.00M	347.00M	333.00M	333.00M	333.00M	333.00M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.66M	332.70M	0.00M	0.00M	0.00M
Retained Earnings	16,622.00M	16,426.00M	16,622.00M	16,139.00M	15,535.00M	15,157.00M	13,826.00M	12,791.00M	12,912.00M	12,594.00M	13,109.00M	12,727.00M	12,314.00M	12,105.00M	11,342.00M	10,435.38M	9,633.58M	8,724.23M	7,752.83M	6,838.59M	5,995.79M	5,345.70M	4,805.85M	4,264.78M	3,950.59M	3,514.47M	3,137.30M	2,835.91M	2,539.00M	2,350.80M	2,249.50M	2,160.30M
Accumulated OCI	-1,870.00M	-1,813.00M	-1,870.00M	-1,732.00M	-1,548.00M	-1,488.00M	-2,088.00M	-2,548.00M	-2,283.00M	-1,909.00M	-1,723.00M	-1,929.00M	-1,738.00M	-1,001.00M	-516.00M	-802.00M	-670.00M	-457.91M	-372.66M	-77.51M	14.03M	-17.67M	-172.92M	-158.48M	-237.99M	-444.64M	-392.63M	-351.05M	-197.00M	0.00M	0.00M	0.00M
Minority Interest	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Shareholders’ Equity	15,123.00M	14,984.00M	15,123.00M	14,778.00M	14,358.00M	14,036.00M	12,105.00M	10,610.00M	10,978.00M	11,034.00M	11,735.00M	11,131.00M	10,909.00M	11,437.00M	11,159.00M	9,966.04M	9,296.25M	8,598.98M	7,712.83M	7,093.74M	6,342.48M	5,660.69M	4,965.60M	4,470.10M	4,079.71M	3,440.44M	3,117.87M	2,861.09M	2,721.40M	2,399.80M	2,300.60M	2,213.20M
Total Equity	15,123.00M	14,984.00M	15,123.00M	14,778.00M	14,358.00M	14,036.00M	12,105.00M	10,610.00M	10,978.00M	11,034.00M	11,735.00M	11,131.00M	10,909.00M	11,437.00M	11,159.00M	9,966.04M	9,296.25M	8,598.98M	7,712.83M	7,093.74M	6,342.48M	5,660.69M	4,965.60M	4,470.10M	4,079.71M	3,440.44M	3,117.87M	2,861.09M	2,721.40M	2,399.80M	2,300.60M	2,213.20M
Total Liabilities & Equity	45,059.00M	45,321.00M	45,059.00M	41,453.00M	38,645.00M	37,912.00M	38,255.00M	38,661.00M	39,819.00M	41,835.00M	34,355.00M	28,131.00M	27,956.00M	17,227.00M	16,695.00M	15,972.03M	1,082,109.08M	910,809.38M	792,802.46M	9,523.11M	8,828.46M	8,158.58M	7,374.55M	6,769.88M	6,392.15M	5,682.68M	5,035.90M	5,410.18M	5,389.70M	4,632.00M	3,995.50M	3,777.80M
Tangible Assets	19,308.00M	18,517.00M	19,308.00M	19,904.00M	17,311.00M	14,445.00M	16,162.00M	15,688.00M	12,293.00M	12,612.00M	23,424.00M	11,407.00M	11,066.00M	9,528.00M	9,211.00M	8,610.34M	7,692.73M	7,682.99M	7,703.15M	6,290.70M	5,768.56M	5,416.62M	4,939.15M	4,717.38M	4,622.41M	3,898.16M	3,701.05M	3,866.03M	3,402.30M	3,099.70M	2,748.40M	2,713.90M
Tangible Equity	-20,894.00M	-21,401.00M	-20,894.00M	-22,604.00M	-21,111.00M	-22,894.00M	-24,565.00M	-26,823.00M	-27,375.00M	-29,007.00M	-1,721.00M	-2,639.00M	-4,015.00M	9,221.00M	8,844.00M	7,731.10M	7,189.96M	7,041.62M	6,487.09M	5,896.28M	5,107.61M	4,569.87M	4,393.99M	3,714.89M	3,431.21M	2,538.18M	2,217.08M	2,222.02M	1,686.70M	1,653.50M	1,968.70M	2,037.30M
Tangible Book Value	-20,894.00M	-21,401.00M	-20,894.00M	-22,604.00M	-21,111.00M	-22,894.00M	-24,565.00M	-26,823.00M	-27,375.00M	-29,007.00M	-1,721.00M	-2,639.00M	-4,015.00M	9,221.00M	8,844.00M	7,731.10M	7,189.96M	7,041.62M	6,487.09M	5,896.28M	5,107.61M	4,569.87M	4,393.99M	3,714.89M	3,431.21M	2,538.18M	2,217.08M	2,222.02M	1,686.70M	1,653.50M	1,968.70M	2,037.30M
Total Investments	8.00M	22.00M	8.00M	445.00M	8.00M	8.00M	12.00M	20.00M	30.00M	17.00M	75.00M	1,162.00M	1,213.00M	893.00M	718.00M	509.57M	388.03M	528.21M	551.56M	199.94M	158.04M	106.39M	86.81M	32.12M	0.00M	1.85M	4.57M	5.56M	4.70M	0.00M	0.00M	0.00M
Net Debt	18,330.00M	18,606.00M	18,330.00M	18,393.00M	14,463.00M	15,059.00M	15,327.00M	15,105.00M	18,854.00M	20,355.00M	4,691.00M	10,010.00M	11,398.00M	2,110.00M	2,080.00M	2,494.95M	1,544.32M	482.13M	497.18M	324.06M	651.87M	383.90M	224.45M	501.42M	786.07M	994.49M	1,154.88M	1,368.11M	1,525.60M	1,067.10M	685.20M	560.40M

Capital Metrics

Metric	MRQ	MRQ-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Working Capital	942.0M	837.0M	942.0M	1,512.0M	2,035.0M	330.0M	2,212.0M	3,133.0M	989.0M	195.0M	15,291.0M	1,967.0M	1,664.0M	3,896.0M	3,743.0M	3,344.1M	2,845.1M	2,833.6M	2,869.9M	2,198.1M	1,651.8M	1,608.9M	1,675.9M	1,591.3M	1,295.2M	676.3M	498.3M	307.1M	354.4M	450.9M	634.4M	510.7M
Total Capital	44,571.0M	44,814.0M	44,571.0M	45,999.0M	41,676.0M	41,347.0M	41,287.0M	41,695.0M	40,472.0M	42,489.0M	31,818.0M	19,185.0M	19,987.0M	9,024.0M	9,012.0M	8,302.0M	7,547.8M	7,132.7M	7,034.1M	6,090.1M	5,525.3M	5,220.4M	4,551.3M	4,288.7M	4,202.9M	3,725.6M	3,565.8M	3,373.3M	3,354.2M	2,764.2M	2,183.2M	2,020.8M
Capital Employed	47,012.0M	46,742.0M	47,012.0M	48,330.0M	46,139.0M	45,123.0M	47,254.0M	48,176.0M	46,187.0M	46,688.0M	34,392.0M	21,186.0M	22,439.0M	10,212.0M	10,019.0M	9,382.9M	8,607.2M	7,979.0M	7,527.5M	6,496.4M	5,850.6M	5,248.2M	4,772.6M	4,702.5M	4,528.9M	3,788.0M	3,537.6M	3,151.6M	3,107.7M	2,754.1M	2,402.1M	2,123.7M
Invested Capital	43,720.0M	44,079.0M	43,720.0M	44,282.0M	40,260.0M	40,341.0M	39,004.0M	38,870.0M	39,936.0M	41,349.0M	17,639.0M	17,644.0M	18,563.0M	7,163.0M	7,122.0M	6,630.8M	6,372.5M	5,916.7M	5,639.9M	5,259.6M	5,013.8M	4,220.1M	3,508.4M	3,569.3M	3,683.0M	3,482.5M	3,483.6M	3,324.1M	3,294.3M	2,680.9M	2,070.6M	1,885.6M

Cash Flow Statement

Metric	TTM	TTM-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
Net Income	1,678.00M	1,726.00M	1,678.00M	1,705.00M	1,530.00M	1,779.00M	2,092.00M	874.00M	1,220.00M	311.00M	1,100.00M	976.00M	695.00M	1,185.00M	929.00M	1,109.53M	1,264.85M	1,176.34M	1,213.05M	1,127.00M	890.03M	815.11M	692.28M	582.50M	547.06M	479.98M	401.65M	392.90M	275.70M	236.60M	300.10M	283.60M
Depreciation & Amortization	2,462.00M	2,144.00M	2,462.00M	2,286.00M	2,288.00M	2,229.00M	2,273.00M	2,154.00M	2,253.00M	1,978.00M	1,088.00M	1,114.00M	891.00M	562.00M	546.00M	510.94M	504.09M	502.11M	470.19M	477.42M	441.34M	405.10M	387.50M	357.22M	344.46M	304.87M	305.70M	288.26M	258.90M	228.70M	209.80M	200.50M
Deferred Income Tax	-68.00M	-211.00M	-474.00M	-211.00M	-622.00M	-120.00M	-304.00M	-302.00M	-381.00M	-240.00M	-236.00M	-426.00M	-336.00M	-32.00M	36.00M	22.15M	30.05M	28.06M	60.04M	80.09M	-115.49M	-108.29M	63.23M	-31.35M	-1.03M	57.20M	37.40M	37.25M	4.60M	-32.30M	-29.70M	-13.50M
Stock-Based Compensation	-35.00M	196.00M	258.00M	247.00M	259.00M	233.00M	229.00M	236.00M	261.00M	322.00M	174.00M	196.00M	166.00M	113.00M	100.00M	89.05M	73.36M	79.37M	86.57M	100.59M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Change in Working Capital	-800.00M	-184.00M	-800.00M	293.00M	-828.00M	-1,394.00M	282.00M	512.00M	-143.00M	897.00M	-371.00M	399.00M	274.00M	-117.00M	160.00M	-3.48M	-253.27M	-68.75M	-89.74M	-87.29M	-165.88M	-154.80M	10.72M	111.22M	80.96M	68.88M	-17.49M	-31.24M	-233.50M	-40.60M	-57.60M	-23.70M
Accounts Receivable	0.00M	0.00M	71.00M	-453.00M	-290.00M	32.00M	-95.00M	-48.00M	-51.00M	-170.00M	-93.00M	-128.00M	-2.00M	-7.00M	-1.00M	-30.07M	-26.52M	-73.93M	-82.81M	0.00M	-117.05M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	0.00M	0.00M	-410.00M	98.00M	-15.00M	-631.00M	-104.00M	-125.00M	-149.00M	246.00M	-46.00M	69.00M	200.00M	-189.00M	-145.00M	-92.41M	-117.54M	-116.50M	-98.34M	-43.62M	-126.86M	-103.90M	-44.35M	30.10M	-43.82M	21.11M	-32.29M	-64.66M	-131.60M	-54.10M	-24.10M	-10.10M
Accounts Payable	0.00M	0.00M	-185.00M	625.00M	-517.00M	-473.00M	687.00M	205.00M	-470.00M	867.00M	134.00M	368.00M	145.00M	199.00M	366.00M	17.14M	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	-800.00M	-184.00M	-276.00M	23.00M	-6.00M	-322.00M	-206.00M	480.00M	527.00M	-46.00M	-366.00M	90.00M	-69.00M	-120.00M	-60.00M	101.86M	-109.22M	121.68M	91.41M	-41.74M	78.03M	-50.90M	120.69M	-2.47M	124.78M	47.77M	48.87M	21.74M	-7.50M	91.10M	-3.50M	8.00M
Other Non-Cash Items	194.00M	127.00M	307.00M	-522.00M	362.00M	-94.00M	75.00M	65.00M	120.00M	-403.00M	795.00M	300.00M	39.00M	33.00M	-52.00M	32.05M	96.92M	27.14M	-23.31M	44.50M	190.43M	119.28M	72.44M	77.93M	-65.75M	-74.90M	51.38M	-71.67M	126.10M	108.40M	20.10M	13.50M
Net Cash from Operating Activities	3,430.00M	3,798.00M	3,430.00M	3,798.00M	2,989.00M	2,633.00M	4,647.00M	3,539.00M	3,330.00M	2,865.00M	2,550.00M	2,559.00M	1,729.00M	1,744.00M	1,507.00M	1,760.23M	1,716.00M	1,744.27M	1,716.82M	1,687.10M	1,240.44M	1,076.40M	1,226.17M	1,097.53M	905.70M	836.03M	778.65M	615.49M	431.80M	500.80M	442.70M	460.40M
Capital Expenditures (PPE)	-760.00M	-725.00M	-760.00M	-725.00M	-874.00M	-973.00M	-1,231.00M	-810.00M	-957.00M	-895.00M	-727.00M	-718.00M	-633.00M	-653.00M	-588.00M	-553.64M	-605.26M	-632.47M	-700.69M	-651.29M	-578.73M	-482.10M	-317.63M	-265.72M	-261.04M	-259.70M	-370.75M	-376.37M	-685.80M	-717.90M	-371.10M	-162.40M
Acquisitions (Net)	0.00M	-3,924.00M	0.00M	-3,924.00M	540.00M	-2,070.00M	-508.00M	-164.00M	477.00M	-14,747.00M	-9.00M	158.00M	-8,414.00M	-40.00M	600.00M	-103.42M	-492.08M	-21.38M	51.02M	-41.26M	-339.53M	-231.46M	0.00M	-24.25M	0.00M	0.00M	-30.95M	-21.27M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-5.00M	-421.00M	0.00M	-421.00M	0.00M	0.00M	0.00M	0.00M	0.00M	895.00M	727.00M	-1.00M	633.00M	-171.00M	-225.00M	-137.86M	514,779.57M	963.00M	-338.23M	-51.99M	-34.05M	-28.31M	-44.95M	-41.45M	-4.40M	-3.40M	-25.47M	-9.27M	0.00M	-3.20M	0.00M	0.00M
Sales / Maturities of Investments	-411.00M	0.00M	422.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	11.00M	13.00M	718.00M	840.00M	653.00M	0.00M	486,870.37M	121.59M	535,740.39M	0.84M	0.00M	19.97M	0.00M	0.00M	0.00M	1.98M	7.65M	7.63M	103.05M	3.50M	0.00M	2.50M	5.20M
Other Investing Activities	358.00M	-445.00M	-480.00M	-444.00M	-382.00M	-188.00M	-141.00M	-258.00M	-261.00M	-1,093.00M	-887.00M	-826.00M	-744.00M	-737.00M	-310.00M	-486,975.56M	-514,843.33M	-536,755.17M	-85.91M	-38.49M	-85.92M	-44.66M	-19.44M	-63.82M	-85.89M	-105.67M	-122.39M	-99.53M	-133.50M	-48.70M	4.50M	47.30M
Net Cash from Investing Activities	-818.00M	-5,514.00M	-818.00M	-5,514.00M	-716.00M	-3,231.00M	-1,880.00M	-1,232.00M	-741.00M	-15,829.00M	-883.00M	-669.00M	-8,318.00M	-948.00M	-523.00M	-900.11M	-1,039.51M	-705.63M	-1,072.96M	-783.02M	-1,018.26M	-786.53M	-382.01M	-395.23M	-349.36M	-361.12M	-541.93M	-403.40M	-815.80M	-769.80M	-364.10M	-109.90M
Net Debt Issuance	-1,656.00M	3,775.00M	-1,334.00M	3,775.00M	-722.00M	-78.00M	-243.00M	-1,760.00M	-2,035.00M	1,090.00M	7,282.00M	-1,252.00M	6,655.00M	-4.00M	-199.00M	1,447.53M	1,025.48M	-200.27M	740.12M	-7.05M	-221.89M	120.74M	52.58M	-78.19M	78.69M	-24.47M	-182.72M	-158.47M	426.00M	315.40M	95.80M	-59.50M
Long-Term Debt Issuance	-1,789.00M	3,375.00M	-1,789.00M	3,375.00M	-493.00M	-308.00M	-243.00M	-1,275.00M	-2,520.00M	1,090.00M	7,282.00M	-752.00M	6,158.00M	0.00M	0.00M	1,446.00M	991.00M	-0.08M	738.92M	-1.11M	-100.79M	-0.83M	-104.52M	-21.68M	78.69M	-24.47M	-182.72M	-158.47M	426.00M	315.40M	95.80M	-59.50M
Short-Term Debt Issuance	133.00M	400.00M	455.00M	400.00M	-230.00M	230.00M	0.00M	-485.00M	485.00M	0.00M	0.00M	-500.00M	497.00M	-4.00M	-199.00M	2.00M	34.00M	-200.19M	1.20M	-5.94M	-121.10M	121.56M	157.10M	-56.51M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-1,000.00M	0.00M	-1,000.00M	-500.00M	0.00M	-500.00M	-1,750.00M	2,917.00M	0.00M	0.00M	4,607.00M	-32.00M	0.00M	-409.00M	-406.00M	-1,464.95M	-1,415.85M	-699.91M	-517.60M	-364.61M	-319.45M	-301.09M	-426.51M	-273.86M	-263.38M	-185.89M	82.93M	34.72M	26.80M	1.50M	-120.60M	-290.50M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2,917.00M	0.00M	0.00M	4,827.00M	0.00M	0.00M	-9.00M	44.00M	35.05M	84.15M	50.09M	32.40M	85.40M	130.68M	147.80M	123.49M	173.61M	86.62M	38.07M	82.93M	34.72M	26.80M	46.00M	29.40M	35.40M
Common Stock Repurchased	-1,000.00M	0.00M	-1,000.00M	-500.00M	0.00M	-500.00M	-1,750.00M	0.00M	0.00M	0.00M	-220.00M	-32.00M	0.00M	-400.00M	-450.00M	-1,500.00M	-1,500.00M	-750.00M	-550.01M	-450.00M	-450.12M	-448.88M	-550.00M	-449.93M	-350.00M	-223.96M	0.00M	0.00M	0.00M	-44.50M	-150.00M	-325.90M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.47M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-1,196.00M	-1,100.00M	-1,196.00M	-1,100.00M	-1,114.00M	-1,082.00M	-1,048.00M	-1,026.00M	-984.00M	-927.00M	-677.00M	-562.00M	-485.00M	-421.00M	-386.00M	-367.61M	-361.20M	-345.71M	-316.88M	-278.51M	-239.81M	-212.43M	-182.24M	-152.38M	-104.15M	-102.46M	-101.33M	-95.75M	-88.10M	-75.30M	-67.20M	-61.70M
Common Dividends Paid	-1,196.00M	-1,100.00M	-1,196.00M	-1,100.00M	-1,114.00M	-1,082.00M	-1,048.00M	-1,026.00M	-984.00M	-927.00M	-677.00M	-562.00M	-485.00M	-421.00M	-386.00M	-367.61M	-361.20M	-345.71M	-316.88M	-278.51M	-239.81M	-212.43M	-182.24M	-150.26M	-104.15M	-102.46M	-101.33M	-95.75M	-88.10M	-75.30M	-67.20M	-61.70M
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	-2.12M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	235.00M	-588.00M	-87.00M	-88.00M	-120.00M	1,069.00M	-265.00M	-109.00M	-204.00M	-220.00M	-234.00M	85.00M	20.00M	27.00M	23.00M	14.85M	37.19M	23.20M	14.67M	64.34M	55.12M	50.61M	40.59M	0.00M	0.00M	-0.92M	0.00M	0.00M	0.00M	0.10M	0.00M	0.00M
Net Cash from Financing Activities	-3,617.00M	2,087.00M	-3,617.00M	2,087.00M	-1,957.00M	-591.00M	-3,306.00M	22.00M	-3,224.00M	-57.00M	10,978.00M	-1,761.00M	6,191.00M	-807.00M	-968.00M	-370.17M	-714.38M	-1,222.69M	-79.70M	-585.83M	-726.03M	-342.17M	-524.51M	-504.43M	-291.67M	-313.74M	-201.12M	-219.50M	364.70M	241.70M	-92.00M	-411.70M
Effect of FX on Cash	-1.00M	4.00M	0.00M	4.00M	5.00M	-45.00M	15.00M	-3.00M	-12.00M	-17.00M	-6.00M	-12.00M	-38.00M	-20.00M	-7.00M	5.94M	-2.82M	5.79M	-0.39M	0.75M	15.04M	9.70M	3.86M	1.62M	12.09M	-0.19M	-2.66M	-3.33M	-4.00M	-2.10M	-9.20M	-2.30M
Net Change in Cash	-1,006.00M	375.00M	-1,005.00M	375.00M	322.00M	-1,233.00M	-525.00M	2,327.00M	-646.00M	-13,039.00M	12,638.00M	117.00M	-437.00M	-29.00M	219.00M	495.88M	-40.71M	-178.26M	563.77M	319.00M	-488.81M	-42.60M	323.51M	199.49M	276.77M	160.99M	32.93M	-10.74M	-23.40M	-29.30M	-22.60M	-63.50M
Cash at Beginning of Period	4,214.00M	9,596.00M	1,856.00M	1,481.00M	1,159.00M	2,392.00M	2,917.00M	590.00M	1,236.00M	14,179.00M	1,541.00M	1,424.00M	1,861.00M	1,890.00M	1,671.00M	1,175.28M	1,215.99M	1,394.24M	830.48M	511.48M	1,000.29M	1,042.89M	719.38M	519.89M	243.12M	82.13M	49.20M	59.93M	83.30M	112.60M	135.20M	198.50M
Cash at End of Period	3,209.00M	9,971.00M	851.00M	1,856.00M	1,481.00M	1,159.00M	2,392.00M	2,917.00M	590.00M	1,140.00M	14,179.00M	1,541.00M	1,424.00M	1,861.00M	1,890.00M	1,671.17M	1,175.28M	1,215.99M	1,394.24M	830.48M	511.48M	1,000.29M	1,042.89M	719.38M	519.89M	243.12M	82.13M	49.20M	59.90M	83.30M	112.60M	135.00M
Operating Cash Flow	3,430.00M	3,798.00M	3,430.00M	3,798.00M	2,989.00M	2,633.00M	4,647.00M	3,539.00M	3,330.00M	2,865.00M	2,550.00M	2,559.00M	1,729.00M	1,744.00M	1,507.00M	1,760.23M	1,716.00M	1,744.27M	1,716.82M	1,687.10M	1,240.44M	1,076.40M	1,226.17M	1,097.53M	905.70M	836.03M	778.65M	615.49M	431.80M	500.80M	442.70M	460.40M
Capital Expenditure	-760.00M	-725.00M	-760.00M	-725.00M	-874.00M	-973.00M	-1,231.00M	-810.00M	-957.00M	-895.00M	-727.00M	-718.00M	-633.00M	-653.00M	-588.00M	-553.64M	-605.26M	-632.47M	-700.69M	-651.29M	-578.73M	-482.10M	-317.63M	-265.72M	-261.04M	-259.70M	-370.75M	-376.37M	-685.80M	-717.90M	-371.10M	-162.40M
Free Cash Flow	2,670.00M	3,073.00M	2,670.00M	3,072.00M	2,115.00M	1,660.00M	3,416.00M	2,729.00M	2,373.00M	1,970.00M	1,823.00M	1,841.00M	1,096.00M	1,091.00M	919.00M	1,206.58M	1,110.74M	1,111.80M	1,016.13M	1,035.81M	661.71M	594.30M	908.55M	831.82M	644.66M	576.33M	407.89M	239.12M	-254.00M	-217.10M	71.60M	298.00M

Free Cash Flow

Metric	TTM	TTM-1	2025-09-30	2024-09-30	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30	1999-09-30	1998-09-30	1997-09-30	1996-09-30
EBITDA	5,845.00M	5,249.00M	5,845.00M	5,364.00M	4,502.00M	4,741.00M	4,863.00M	3,689.00M	5,147.00M	4,227.00M	3,374.00M	3,272.00M	2,391.00M	2,168.00M	1,801.00M	2,069.00M	2,159.00M	2,073.79M	2,054.29M	2,013.99M	1,766.67M	1,597.05M	1,418.67M	1,244.49M	1,096.99M	992.56M	951.58M	1,148.83M	1,038.60M	953.80M	870.10M	832.30M
(-) Tax Adjustment	633.57M	792.25M	633.57M	802.59M	357.56M	393.53M	252.92M	552.46M	0.00M	1,479.45M	0.00M	295.52M	142.36M	480.04M	364.84M	510.22M	556.43M	598.15M	535.17M	553.16M	510.33M	440.85M	441.29M	281.61M	253.79M	234.30M	228.26M	280.70M	270.10M	291.82M	252.36M	232.91M
(-) Change In Working Capital	-800.00M	-184.00M	-800.00M	293.00M	-828.00M	-1,394.00M	282.00M	512.00M	-143.00M	897.00M	-371.00M	399.00M	274.00M	-117.00M	160.00M	-3.48M	-253.27M	-68.75M	-89.74M	-87.29M	-165.88M	-154.80M	10.72M	111.22M	80.96M	68.88M	-17.49M	-31.24M	-233.50M	-40.60M	-57.60M	-23.70M
(-) Capital Expenditure	-760.00M	-725.00M	-760.00M	-725.00M	-874.00M	-973.00M	-1,231.00M	-810.00M	-957.00M	-895.00M	-727.00M	-718.00M	-633.00M	-653.00M	-588.00M	-553.64M	-605.26M	-632.47M	-700.69M	-651.29M	-578.73M	-482.10M	-317.63M	-265.72M	-261.04M	-259.70M	-370.75M	-376.37M	-685.80M	-717.90M	-371.10M	-162.40M
Unlevered Free Cash Flow	5,251.43M	3,915.75M	5,251.43M	3,543.41M	4,098.44M	4,768.47M	3,097.08M	1,814.54M	4,333.00M	955.55M	3,018.00M	1,859.48M	1,341.64M	1,151.96M	688.16M	1,008.61M	1,250.58M	911.93M	908.16M	896.83M	843.50M	828.90M	649.02M	585.94M	501.19M	429.68M	370.05M	522.99M	316.20M	-15.32M	304.24M	460.69M
(-) Net Interest Income After Taxes	-512.67M	-309.91M	-512.67M	-310.39M	-370.99M	-350.29M	-436.08M	-442.98M	-627.00M	-416.65M	-445.00M	-333.85M	-334.80M	-69.29M	-78.15M	-63.79M	-30.28M	-11.48M	-5.35M	2.19M	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 Debt Issuance	-1,656.00M	3,775.00M	-1,334.00M	3,775.00M	-722.00M	-78.00M	-243.00M	-1,760.00M	-2,035.00M	1,090.00M	7,282.00M	-1,252.00M	6,655.00M	-4.00M	-199.00M	1,447.53M	1,025.48M	-200.27M	740.12M	-7.05M	-221.89M	120.74M	52.58M	-78.19M	78.69M	-24.47M	-182.72M	-158.47M	426.00M	315.40M	95.80M	-59.50M
Levered Free Cash Flow	4,108.10M	8,000.66M	4,430.10M	7,628.79M	3,747.43M	5,040.76M	3,290.15M	497.52M	2,925.00M	2,462.20M	10,745.00M	941.34M	8,331.44M	1,217.26M	567.31M	2,519.93M	2,306.34M	723.14M	1,653.63M	887.58M	621.60M	949.63M	701.61M	507.75M	579.88M	405.21M	187.33M	364.52M	742.20M	300.08M	400.04M	401.19M