Monolithic Power Systems, Inc. (MPWR)

Industry: Semiconductors Sector: Technology Currency Used: US Live Price: $1,033.17

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
Stock Price	920.64	731.38	744.00	751.02	533.39	396.68	426.17	262.58	153.18	122.53	101.85	73.60	54.57	43.73	28.12	20.30	13.72	18.25	21.33	17.31	19.24	12.76	10.30	9.71	9.84	9.84
Market Capitalization	44,096.81M	35,010.43M	35,619.96M	36,517.67M	25,402.23M	18,525.54M	19,553.84M	11,791.77M	6,615.66M	5,176.76M	4,213.14M	2,977.97M	2,154.11M	1,692.12M	1,054.78M	708.15M	467.39M	651.89M	733.71M	579.52M	612.90M	374.93M	289.17M	113.24M	60.45M	57.10M
(-) Cash & Equivalents	1,081.25M	787.38M	835.33M	607.73M	486.24M	302.07M	213.48M	206.44M	189.24M	115.72M	83.78M	95.51M	86.08M	106.21M	101.67M	78.43M	90.27M	47.53M	55.91M	74.77M	72.93M	32.21M	34.40M	11.93M	3.03M	4.31M
(+) Total Debt	0.00M	19.91M	12.55M	14.03M	1.97M	0.42M	4.18M	2.96M	2.25M	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
Enterprise Value	43,015.56M	34,242.96M	34,797.18M	35,923.97M	24,917.96M	18,223.89M	19,344.54M	11,588.29M	6,428.67M	5,061.03M	4,129.36M	2,882.46M	2,068.04M	1,585.92M	953.11M	629.72M	377.11M	604.36M	677.81M	504.75M	539.97M	342.72M	254.77M	101.31M	57.41M	52.79M

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
Revenue	2,661M	2,039M	2,207M	1,821M	1,794M	1,208M	844M	628M	582M	471M	389M	333M	283M	238M	214M	197M	219M	165M	161M	134M	105M	99M	48M	24M	12M	8M	5M	1M
Cost of Revenue	1,191M	912M	986M	800M	746M	522M	378M	282M	260M	213M	178M	153M	130M	110M	101M	95M	97M	67M	61M	49M	38M	36M	19M	11M	7M	6M	4M	1M
Gross Profit	1,470M	1,128M	1,221M	1,021M	1,049M	685M	466M	346M	323M	258M	211M	180M	153M	128M	113M	102M	121M	98M	99M	85M	67M	63M	28M	13M	5M	2M	1M	0M
Gross Profit Margin	55.2%	55.3%	55.3%	56.1%	58.4%	56.8%	55.2%	55.2%	55.4%	54.8%	54.3%	54.1%	54.0%	53.7%	52.9%	51.7%	55.5%	59.2%	61.9%	63.6%	63.7%	63.7%	59.0%	54.8%	44.0%	26.5%	26.6%	16.7%
R&D Expenses	372M	310M	325M	264M	240M	191M	138M	108M	93M	82M	74M	66M	59M	50M	49M	45M	44M	38M	35M	27M	22M	15M	8M	5M	4M	3M	1M	1M
SG&A Expenses	405M	332M	357M	276M	282M	232M	162M	134M	114M	97M	83M	72M	67M	55M	50M	40M	41M	40M	42M	30M	28M	18M	13M	11M	4M	0M	1M	0M
Operating Expenses	778M	642M	682M	539M	522M	423M	307M	244M	209M	181M	156M	139M	117M	104M	96M	88M	91M	78M	77M	76M	66M	57M	33M	16M	9M	6M	3M	1M
Operating Income (EBIT)	692M	486M	539M	482M	527M	262M	159M	103M	113M	77M	54M	41M	35M	24M	17M	13M	30M	20M	23M	10M	1M	6M	-5M	-3M	-3M	-3M	-2M	-1M
Operating Income Margin	26.0%	23.8%	24.4%	26.5%	29.4%	21.7%	18.8%	16.3%	19.5%	16.4%	14.0%	12.3%	12.5%	10.0%	8.1%	6.8%	13.9%	11.8%	14.0%	7.2%	1.2%	6.5%	-10.8%	-13.2%	-27.0%	-41.8%	-31.1%	-216.7%
Interest Income	30M	27M	27M	23M	14M	12M	9M	7M	6M	5M	2M	2M	1M	0M	1M	1M	1M	1M	4M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	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
Net Interest Income	30M	27M	27M	23M	14M	12M	9M	7M	6M	5M	2M	2M	1M	0M	1M	1M	1M	1M	4M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	4M	10M	6M	1M	-16M	-2M	1M	3M	-1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	-1M	5M	2M	2M	0M	3M	3M	3M	0M	0M
EBT Excluding Unusual Items	722M	512M	566M	505M	541M	274M	168M	110M	120M	83M	57M	43M	36M	24M	18M	14M	32M	21M	26M	10M	1M	6M	-5M	-3M	-3M	-3M	-2M	-1M
Pre-Tax Income	726M	523M	573M	506M	525M	272M	169M	113M	118M	83M	57M	42M	36M	24M	18M	14M	31M	20M	25M	14M	4M	8M	-5M	0M	0M	0M	-2M	-1M
Pre-Tax Margin	27.3%	25.6%	26.0%	27.8%	29.3%	22.5%	20.1%	18.0%	20.3%	17.6%	14.7%	12.8%	12.9%	10.1%	8.4%	7.0%	14.4%	12.2%	15.9%	10.7%	3.4%	8.1%	-11.5%	0.0%	0.0%	0.0%	-30.5%	-216.7%
Income Tax Expense	-1,169M	89M	-1,214M	78M	87M	30M	5M	4M	13M	18M	5M	7M	1M	1M	2M	0M	2M	0M	1M	5M	6M	3M	-1M	0M	0M	3M	0M	0M
Net Income	1,895M	434M	1,787M	427M	438M	242M	164M	109M	105M	65M	53M	35M	35M	23M	16M	13M	30M	20M	24M	9M	-3M	5M	-4M	-3M	-3M	-4M	-2M	-1M
Net Income Margin	71.2%	21.3%	81.0%	23.5%	24.4%	20.0%	19.5%	17.3%	18.1%	13.8%	13.6%	10.6%	12.6%	9.6%	7.4%	6.8%	13.5%	11.9%	15.1%	6.9%	-2.7%	5.2%	-9.4%	-12.5%	-26.5%	-43.9%	-30.5%	-216.7%
Depreciation & Amortization	48M	37M	36M	40M	37M	29M	19M	15M	12M	16M	15M	14M	13M	12M	9M	9M	8M	7M	6M	4M	14M	7M	13M	4M	1M	0M	0M	0M
EBITDA	740M	522M	576M	522M	564M	291M	178M	117M	126M	94M	69M	55M	48M	36M	27M	22M	39M	26M	28M	14M	15M	14M	8M	1M	-2M	-3M	-2M	-1M
EBITDA Margin	27.8%	25.6%	26.1%	28.7%	31.4%	24.1%	21.1%	18.7%	21.6%	19.9%	17.8%	16.5%	17.1%	15.2%	12.4%	11.3%	17.6%	15.8%	17.6%	10.3%	14.7%	13.7%	16.9%	3.6%	-20.4%	-41.8%	-31.1%	-216.7%
NOPAT	1,806M	403M	1,682M	407M	439M	233M	154M	99M	101M	61M	50M	34M	34M	23M	15M	13M	29M	19M	21M	6M	-1M	4M	-4M	-3M	-3M	-3M	-1M	-1M
NOPAT Margin	67.9%	19.8%	76.2%	22.3%	24.5%	19.3%	18.3%	15.7%	17.3%	12.9%	12.9%	10.2%	12.2%	9.6%	7.1%	6.6%	13.1%	11.6%	13.4%	4.7%	-0.9%	4.1%	-8.5%	-10.5%	-21.3%	-33.0%	-24.5%	-171.2%
Owner's Earnings	1,748M	376M	1,677M	410M	416M	175M	128M	27M	95M	16M	30M	33M	39M	19M	4M	1M	15M	16M	25M	7M	4M	10M	5M	-1M	-4M	-4M	-2M	-1M
Owner's Earnings Margin	65.7%	18.4%	76.0%	22.5%	23.2%	14.5%	15.1%	4.3%	16.3%	3.3%	7.8%	9.9%	13.8%	8.1%	1.9%	0.5%	6.8%	9.7%	15.4%	5.1%	3.7%	10.4%	11.5%	-2.5%	-28.7%	-50.1%	-30.5%	-216.7%
EPS (Basic)	39.31	8.94	36.76	8.98	9.37	5.28	3.67	2.52	2.36	1.58	1.30	0.89	0.92	0.61	0.45	0.39	0.83	0.57	0.72	0.37	-0.10	0.18	-0.49	-0.49	-0.55	-0.63	-0.33	-0.28
EPS (Diluted)	39.37	8.87	36.59	8.76	9.05	5.05	3.50	2.38	2.36	1.50	1.26	0.86	0.89	0.59	0.43	0.38	0.78	0.54	0.67	0.26	-0.10	0.17	-0.49	-0.49	-0.55	-0.63	-0.33	-0.28
Shares (Basic)	48M	49M	49M	48M	47M	46M	45M	43M	45M	41M	40M	39M	39M	37M	35M	34M	36M	34M	34M	32M	30M	28M	9M	6M	6M	6M	5M	5M
Shares (Diluted)	48M	49M	49M	49M	48M	48M	47M	46M	45M	44M	42M	41M	40M	39M	36M	35M	38M	37M	36M	35M	30M	31M	9M	6M	6M	6M	5M	5M

Product Segments

Metric	TTM	TTM-1	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2013-12-31	2012-12-31
DC To DC Products	1,961.26M	1,723.26M	1,718.62M	1,696.59M	1,147.33M	800.48M	589.65M	537.51M	431.86M	350.93M	211.34M	188.74M
Lighting Control Products	78.19M	103.81M	102.45M	97.55M	60.47M	43.97M	38.27M	44.87M	39.07M	37.74M	26.75M	25.08M

Geographic Segments

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	2013-12-31	2012-12-31
CHINA	1,477.82M	1,114.65M	1,178.34M	934.77M	938.95M	700.99M	516.52M	382.74M	334.73M	257.79M	245.17M	141.40M	124.28M
Europe	109.97M	85.33M	86.90M	132.62M	145.58M	85.20M	56.33M	49.47M	49.48M	38.14M	27.55M	15.35M	16.20M
JAPAN	79.33M	58.42M	61.70M	93.34M	91.05M	68.72M	35.46M	27.81M	26.85M	20.19M	14.32M	7.50M	8.52M
KOREA, REPUBLIC OF	231.78M	168.69M	167.90M	169.87M	189.48M	93.03M	64.09M	43.90M	41.24M	34.16M	27.71M	9.99M	9.43M
Other Region	0.41M	0.33M	0.31M	0.53M	0.51M	0.35M	0.29M	0.33M	0.66M	0.44M	0.29M	0.32M	0.56M
South East Asia	138.00M	61.84M	78.77M	85.15M	95.74M	54.61M	42.40M	32.03M	36.50M	25.76M	19.65M	21.76M	21.64M
TAIWAN, PROVINCE OF CHINA	547.65M	492.51M	577.96M	307.50M	233.04M	169.13M	109.26M	73.80M	75.31M	83.36M	45.41M	34.25M	27.48M
UNITED STATES	76.00M	57.69M	55.24M	97.29M	99.80M	35.77M	20.10M	17.84M	17.62M	11.11M	8.57M	7.53M	5.71M

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	2000-12-31
Cash & Cash Equivalents	1,081.25M	787.38M	691.82M	527.84M	288.61M	189.27M	334.94M	172.96M	172.70M	82.76M	112.70M	90.86M	126.27M	101.21M	75.10M	96.37M	48.01M	46.72M	83.27M	83.11M	50.82M	25.09M	32.02M	12.14M	17.22M	0.90M
Short-Term Investments	188.23M	358.70M	171.13M	580.63M	449.27M	535.82M	260.17M	282.44M	204.58M	216.33M	155.52M	144.10M	112.45M	125.13M	85.52M	77.83M	129.71M	118.91M	21.92M	27.77M	27.67M	38.81M	17.00M	1.01M	0.00M	0.00M
Cash & Short-Term Investments	1,269.48M	1,146.08M	862.95M	1,108.48M	737.87M	725.08M	595.11M	455.40M	377.28M	299.09M	268.22M	234.96M	238.72M	226.34M	160.63M	174.20M	177.72M	165.63M	105.19M	110.88M	78.49M	63.91M	49.02M	13.14M	17.22M	0.90M
Net Receivables	241.56M	194.82M	232.53M	250.00M	197.19M	126.48M	81.26M	61.30M	60.99M	40.62M	35.48M	30.83M	25.63M	23.73M	19.38M	15.10M	18.35M	15.52M	9.12M	8.24M	9.16M	9.54M	4.00M	4.57M	1.32M	0.00M
Inventory	505.68M	490.64M	419.61M	383.70M	447.29M	259.42M	157.06M	127.50M	136.38M	99.28M	71.47M	63.21M	40.92M	39.74M	32.12M	20.10M	25.79M	19.62M	18.89M	17.49M	6.74M	6.17M	5.40M	1.60M	1.27M	0.00M
Other Current Assets	96.02M	10.30M	13.89M	48.36M	17.22M	4.35M	3.53M	3.02M	2.73M	1.22M	0.57M	0.80M	0.00M	0.00M	0.00M	0.42M	0.20M	0.01M	7.44M	7.42M	1.66M	6.61M	1.39M	0.00M	0.00M	-0.90M
Total Current Assets	2,112.75M	1,841.84M	1,528.97M	1,790.54M	1,399.57M	1,115.33M	836.97M	647.22M	577.39M	440.21M	375.74M	329.80M	305.27M	289.81M	212.12M	209.82M	222.06M	200.77M	140.63M	144.03M	96.04M	86.22M	59.81M	19.31M	19.81M	0.00M
Property, Plant & Equipment	597.31M	601.59M	529.14M	368.95M	357.16M	362.96M	281.53M	231.18M	150.00M	144.64M	85.17M	65.36M	62.94M	64.84M	59.41M	47.79M	37.26M	17.97M	14.16M	14.18M	11.36M	6.24M	4.18M	2.15M	1.47M	0.00M
Goodwill	25.94M	25.94M	25.94M	6.57M	6.57M	6.57M	6.57M	6.57M	6.57M	6.57M	6.57M	6.57M	6.57M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	9.08M	9.36M	9.94M	0.00M	0.00M	0.00M	0.00M	0.00M	0.11M	0.95M	3.00M	5.05M	6.81M	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
Long-Term Investments	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	6.26M	3.14M	3.24M	5.26M	5.35M	5.36M	5.39M	9.86M	11.76M	13.68M	19.18M	19.45M	37.43M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	1,300.26M	1,309.98M	1,326.84M	28.05M	35.25M	21.92M	18.56M	17.19M	16.83M	15.92M	0.63M	0.67M	1.28M	0.48M	0.67M	0.24M	0.04M	0.18M	0.02M	0.78M	0.00M	0.00M	0.51M	0.00M	0.00M	0.00M
Other Non-Current Assets	161.06M	106.57M	160.18M	211.28M	249.29M	69.52M	53.58M	43.09M	35.98M	30.07M	27.41M	16.34M	8.46M	1.64M	1.03M	0.65M	0.75M	0.73M	0.44M	8.88M	8.81M	6.82M	6.78M	0.82M	0.08M	0.00M
Other 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	4.35M
Total Non-Current Assets	2,093.65M	2,053.45M	2,052.04M	614.85M	648.27M	460.97M	366.49M	301.17M	212.73M	203.40M	128.14M	99.36M	91.45M	76.82M	72.86M	62.36M	57.23M	38.32M	52.05M	23.83M	20.17M	13.06M	11.46M	2.97M	1.54M	4.35M
Total Assets	4,206.39M	3,895.30M	3,581.01M	2,405.39M	2,047.84M	1,576.30M	1,203.46M	948.38M	790.12M	643.61M	503.88M	429.16M	396.72M	366.63M	284.99M	272.18M	279.29M	239.10M	192.68M	167.86M	116.21M	99.27M	71.27M	22.27M	21.35M	4.35M
Accounts Payable	141.69M	129.92M	102.53M	62.96M	61.46M	83.03M	38.17M	27.27M	22.68M	22.81M	17.43M	13.49M	13.14M	10.69M	9.86M	8.90M	8.98M	7.79M	4.67M	6.15M	5.91M	6.58M	3.40M	1.79M	1.59M	0.00M
Short-Term Debt	0.00M	3.97M	2.82M	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
Tax Payables	78.26M	73.19M	65.19M	8.06M	15.60M	47.67M	3.76M	2.44M	7.02M	2.86M	1.24M	0.47M	0.00M	5.54M	0.00M	4.92M	5.02M	4.92M	4.76M	5.46M	0.68M	2.91M	374.32M	0.00M	0.00M	0.00M
Deferred Revenue	0.00M	0.00M	0.00M	0.00M	0.00M	4.30M	7.24M	3.41M	2.52M	6.59M	6.80M	5.24M	3.91M	2.52M	2.20M	3.60M	0.00M	0.00M	0.84M	1.31M	0.69M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	201.51M	77.32M	61.10M	56.29M	88.26M	64.08M	50.44M	31.69M	24.16M	18.24M	14.52M	12.18M	10.78M	21.37M	8.65M	10.41M	0.00M	0.00M	-0.84M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Current Liabilities	421.46M	284.40M	231.64M	127.31M	165.32M	199.08M	99.60M	64.81M	56.38M	50.51M	39.98M	31.37M	27.82M	40.13M	20.70M	27.83M	13.99M	12.70M	9.44M	12.92M	7.28M	9.50M	377.71M	1.79M	1.59M	0.00M
Long-Term Debt	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
Capital Lease Obligations	0.00M	15.94M	12.97M	5.57M	1.66M	3.27M	3.10M	2.36M	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
Deferred Tax Liabilities	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	5.88M	5.54M	0.00M	0.00M	5.02M	4.92M	4.76M	0.00M	0.00M	0.13M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	195.64M	170.70M	163.79M	143.81M	125.22M	114.90M	93.24M	83.56M	72.90M	64.65M	27.09M	19.49M	10.20M	1.48M	5.41M	4.92M	0.72M	0.03M	0.01M	5.64M	2.25M	0.21M	0.16M	18.48M	17.13M	0.00M
Total Non-Current Liabilities	195.64M	186.63M	176.76M	149.38M	126.88M	118.16M	96.34M	85.91M	72.90M	64.65M	27.09M	19.49M	16.08M	7.02M	5.41M	4.92M	5.74M	4.94M	4.77M	5.64M	2.25M	0.34M	0.16M	18.48M	17.13M	0.00M
Total Liabilities	617.10M	471.03M	408.40M	276.69M	292.20M	317.24M	195.94M	150.73M	129.28M	115.15M	67.07M	50.86M	43.90M	47.15M	26.11M	32.75M	19.73M	17.64M	14.21M	18.56M	9.53M	9.84M	377.87M	20.27M	18.72M	0.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	11.16M	11.16M	4.38M
Common Stock	885.12M	822.58M	706.82M	1,129.94M	975.28M	803.23M	657.70M	549.52M	450.91M	376.59M	315.97M	265.76M	240.50M	234.20M	194.08M	159.34M	178.27M	175.52M	147.30M	146.04M	113.53M	98.34M	93.53M	13.53M	2.09M	0.00M
Retained Earnings	2,705.53M	2,603.18M	2,487.46M	947.06M	716.40M	424.88M	298.75M	229.45M	194.73M	143.61M	119.36M	101.29M	100.11M	82.94M	60.04M	79.95M	66.65M	37.09M	17.41M	-9.19M	-17.90M	-15.09M	-20.69M	-15.06M	-10.68M	0.00M
Accumulated OCI	-22.70M	-23.69M	-48.51M	-27.06M	-23.08M	15.88M	10.14M	-5.48M	-5.54M	1.81M	-4.22M	1.47M	5.81M	6.26M	0.00M	3.59M	1.98M	0.35M	-0.06M	0.46M	-0.69M	-5.08M	-9.33M	-8.41M	-0.60M	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
Total Shareholders’ Equity	3,567.95M	3,402.07M	3,145.77M	2,049.94M	1,668.60M	1,243.99M	966.59M	773.49M	640.09M	522.01M	431.12M	368.52M	346.43M	323.40M	254.12M	242.88M	246.90M	212.96M	164.65M	137.31M	94.95M	78.17M	63.50M	1.23M	1.98M	4.38M
Total Equity	3,567.95M	3,402.07M	3,145.77M	2,049.94M	1,668.60M	1,243.99M	966.59M	773.49M	640.09M	522.01M	431.12M	368.52M	346.43M	323.40M	254.12M	242.88M	246.90M	212.96M	164.65M	137.31M	94.95M	78.17M	63.50M	1.23M	1.98M	4.38M
Total Liabilities & Equity	4,185.05M	3,873.10M	3,554.17M	2,326.63M	1,960.80M	1,561.23M	1,162.53M	924.22M	769.37M	637.16M	498.19M	419.37M	390.33M	370.55M	280.23M	275.63M	266.63M	230.60M	178.85M	155.87M	104.49M	88.00M	441.38M	21.50M	20.70M	4.38M
Tangible Assets	4,171.37M	3,859.99M	3,545.13M	2,398.82M	2,041.27M	1,569.73M	1,196.89M	941.81M	783.44M	636.09M	494.30M	417.53M	383.34M	366.63M	284.99M	272.18M	279.29M	239.10M	192.68M	167.86M	116.21M	99.27M	71.27M	22.27M	21.35M	4.35M
Tangible Equity	3,532.93M	3,366.76M	3,109.89M	2,043.37M	1,662.03M	1,237.41M	960.02M	766.92M	633.41M	514.49M	421.54M	356.89M	333.04M	323.40M	254.12M	242.88M	246.90M	212.96M	164.65M	137.31M	94.95M	78.17M	63.50M	1.23M	1.98M	4.38M
Tangible Book Value	3,532.93M	3,366.76M	3,109.89M	2,043.37M	1,662.03M	1,237.41M	960.02M	766.92M	633.41M	514.49M	421.54M	356.89M	333.04M	323.40M	254.12M	242.88M	246.90M	212.96M	164.65M	137.31M	94.95M	78.17M	63.50M	1.23M	1.98M	4.38M
Total Investments	188.23M	358.70M	171.13M	580.63M	449.27M	535.82M	266.43M	285.58M	207.82M	221.59M	160.88M	149.46M	117.84M	134.99M	97.28M	91.50M	148.89M	138.36M	59.35M	27.77M	27.67M	38.81M	17.00M	1.01M	0.00M	0.00M
Net Debt	-1,081.25M	-783.41M	-689.00M	-527.84M	-288.61M	-189.27M	-334.94M	-172.96M	-172.70M	-82.76M	-112.70M	-90.86M	-126.27M	-101.21M	-75.10M	-96.37M	-48.01M	-46.72M	-83.27M	-83.11M	-50.82M	-25.09M	-32.02M	-12.14M	-17.22M	-0.90M

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	2000-12-31
Working Capital	1,669.9M	1,535.2M	1,270.5M	1,584.5M	1,147.2M	897.9M	695.0M	557.0M	500.4M	384.4M	330.1M	288.6M	271.3M	253.6M	190.8M	185.4M	195.4M	179.6M	117.4M	119.3M	77.0M	65.5M	52.1M	16.7M	17.6M	0.9M
Total Capital	3,567.9M	3,422.0M	3,161.6M	2,055.5M	1,670.3M	1,244.0M	969.7M	775.8M	640.1M	522.0M	431.1M	368.5M	346.4M	323.4M	258.3M	242.9M	246.9M	213.0M	164.6M	137.3M	95.0M	78.2M	63.5M	1.2M	2.0M	1.7M
Capital Employed	3,763.6M	3,588.7M	3,322.5M	2,199.3M	1,795.5M	1,358.9M	1,061.5M	858.2M	713.0M	586.7M	458.2M	388.0M	362.5M	330.4M	263.7M	247.8M	252.6M	217.9M	169.4M	143.1M	97.2M	78.5M	63.7M	19.7M	19.1M	4.3M
Invested Capital	2,486.7M	2,634.6M	2,469.7M	1,527.7M	1,381.7M	1,054.7M	634.7M	602.9M	467.4M	439.2M	318.4M	277.7M	220.2M	222.2M	183.2M	146.5M	198.9M	166.2M	81.4M	54.2M	44.1M	53.1M	31.5M	-10.9M	-15.2M	0.8M

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
Net Income	1,895.15M	434.24M	1,786.70M	427.37M	437.67M	242.02M	164.38M	108.84M	105.27M	65.20M	52.72M	35.17M	35.50M	22.90M	15.76M	13.30M	29.56M	19.67M	24.23M	9.29M	-2.86M	5.11M	-4.45M	-3.04M	-3.24M	-3.57M
Depreciation & Amortization	48.31M	36.62M	36.43M	40.17M	37.11M	28.70M	19.19M	14.87M	12.31M	16.10M	14.67M	13.78M	13.13M	12.16M	9.33M	8.73M	8.02M	6.57M	5.73M	4.18M	14.25M	7.10M	13.46M	4.07M	0.81M	0.30M
Deferred Income Tax	-1,269.58M	-11.66M	-1,302.91M	5.87M	-13.22M	-2.77M	-1.63M	-0.58M	-0.84M	-15.24M	-0.01M	0.04M	0.02M	-0.08M	-0.01M	1.56M	-0.06M	-0.08M	0.71M	2.05M	1.92M	-1.64M	-1.46M	0.00M	0.00M	0.00M
Stock-Based Compensation	47.99M	190.74M	205.64M	149.71M	160.99M	123.48M	85.55M	78.70M	60.61M	52.62M	44.99M	41.56M	33.45M	20.70M	18.65M	13.13M	16.81M	14.61M	13.16M	11.23M	11.52M	5.43M	12,349.67M	0.00M	0.00M	0.00M
Change in Working Capital	-47.72M	158.70M	92.07M	30.32M	-386.96M	-71.64M	3.00M	17.81M	-37.52M	15.70M	-2.95M	-12.65M	-8.05M	4.53M	-21.26M	6.59M	-8.62M	-11.12M	-5.58M	-3.45M	-2.14M	5.28M	-4.49M	-3.99M	0.07M	0.50M
Accounts Receivable	-76.86M	21.14M	7.33M	2.88M	-77.90M	-37.98M	-14.12M	2.51M	-18.08M	-3.79M	-3.42M	-5.20M	-1.87M	-4.35M	-4.29M	3.25M	-2.83M	-6.41M	-0.88M	0.92M	0.38M	-5.55M	570.44M	0.00M	0.00M	0.00M
Inventory	-80.74M	-26.94M	-35.22M	63.58M	-188.07M	-102.32M	-29.50M	8.87M	-37.06M	-27.80M	-8.32M	-22.21M	-1.14M	-7.61M	-12.00M	5.70M	-6.18M	-0.74M	-1.36M	-10.75M	-0.57M	-0.77M	-3.80M	-0.33M	-0.70M	0.00M
Accounts Payable	12.86M	42.09M	23.17M	4.80M	-11.24M	32.93M	10.41M	3.05M	0.87M	3.08M	5.48M	0.15M	1.63M	1.44M	0.75M	-0.96M	1.16M	2.70M	-1.38M	0.21M	-0.69M	3.15M	1,603.67M	0.00M	0.00M	0.00M
Other Working Capital	97.01M	122.42M	96.79M	-40.94M	-109.74M	35.73M	36.22M	3.39M	16.75M	44.20M	3.32M	14.62M	-6.67M	15.05M	-5.72M	-1.40M	-0.77M	-6.68M	-1.97M	6.17M	-1.26M	8.45M	-2,174.80M	-3.66M	0.77M	0.00M
Other Non-Cash Items	226.82M	-34.59M	-29.52M	-15.23M	11.07M	0.22M	-2.69M	-3.34M	1.63M	-0.56M	-1.65M	-8.18M	0.09M	0.47M	2.44M	0.38M	2.78M	2.11M	1.35M	1.05M	-10.88M	-4.07M	-12,349.61M	0.00M	0.00M	0.37M
Net Cash from Operating Activities	900.97M	774.04M	788.41M	638.21M	246.67M	320.01M	267.80M	216.30M	141.45M	133.82M	107.79M	69.74M	74.13M	60.69M	24.91M	43.69M	48.49M	31.76M	39.59M	24.34M	11.82M	17.21M	3.11M	-2.95M	-2.35M	-2.40M
Capital Expenditures (PPE)	-195.80M	-95.12M	-146.12M	-57.58M	-58.84M	-95.24M	-55.64M	-96.79M	-22.53M	-65.77M	-37.11M	-16.02M	-9.51M	-15.76M	-21.06M	-21.02M	-22.78M	-10.26M	-5.23M	-6.65M	-7.47M	-1.88M	-3.22M	-1.63M	-1.07M	-0.50M
Acquisitions (Net)	0.00M	-33.28M	-33.28M	0.00M	0.00M	-0.77M	0.03M	9.27M	0.00M	0.00M	0.00M	0.34M	-11.59M	0.09M	0.01M	0.02M	0.00M	-0.31M	0.00M	0.06M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-536.79M	-1,031.42M	-1,082.71M	-582.60M	-65.79M	-394.89M	-338.26M	-212.56M	-99.20M	-140.53M	-236.91M	-223.02M	-136.87M	-125.76M	-143.09M	-78.25M	-208.62M	-159.92M	-64.66M	-58.78M	-87.29M	-194.06M	-17.00M	-3.50M	0.00M	0.00M
Sales / Maturities of Investments	1,112.91M	919.99M	1,508.14M	468.31M	128.61M	113.76M	357.39M	136.05M	111.13M	77.50M	223.34M	189.55M	153.94M	87.73M	137.28M	135.49M	197.67M	80.69M	31.71M	58.77M	98.43M	172.25M	1.50M	2.49M	0.00M	0.00M
Other Investing Activities	-6.87M	-22.33M	-22.98M	-6.85M	-16.49M	-1.75M	-2.70M	-3.08M	-4.15M	-5.26M	-5.05M	-8.04M	-5.34M	-0.62M	0.02M	-0.02M	-0.02M	7.68M	8.57M	-7.35M	2.94M	-2.90M	0.03M	0.00M	0.00M	0.00M
Net Cash from Investing Activities	373.46M	-262.16M	223.05M	-178.73M	-12.51M	-378.89M	-39.18M	-167.11M	-14.74M	-134.06M	-55.73M	-57.20M	-9.37M	-54.32M	-26.84M	36.22M	-33.75M	-82.13M	-29.62M	-13.95M	6.61M	-26.59M	-18.68M	-2.65M	-1.07M	-0.50M
Net Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.40M	0.00M	0.00M	0.00M	15.39M	0.00M
Long-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.40M	0.00M	0.00M	0.00M	15.39M	0.00M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-622.08M	-13.30M	-627.52M	-3.74M	11.24M	21.99M	22.59M	19.93M	13.67M	2.85M	3.81M	-32.29M	-41.20M	-20.62M	15.24M	-32.00M	-15.30M	12.98M	-10.55M	17.29M	5.33M	2.72M	35.72M	0.48M	0.00M	0.00M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	5.36M	17.32M	22.59M	16.65M	13.67M	2.85M	3.81M	0.00M	0.00M	0.00M	15.24M	4.70M	14.34M	12.98M	14.49M	17.29M	5.33M	2.72M	35.72M	0.48M	0.00M	0.00M
Common Stock Repurchased	-622.08M	-17.90M	-636.24M	-3.74M	5.88M	4.67M	0.00M	3.28M	0.00M	0.00M	0.00M	-32.29M	-41.20M	-20.62M	0.00M	-38.47M	-31.53M	0.00M	-25.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	4.90M
Preferred Stock Issuance	0.00M	4.61M	8.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1.77M	1.89M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-271.84M	-229.35M	-240.62M	-185.84M	-137.97M	-109.36M	-88.79M	-67.29M	-47.48M	-33.93M	-33.10M	-29.97M	-11.66M	0.00M	-35.66M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Dividends Paid	-271.84M	-229.35M	-240.62M	-185.84M	-137.97M	-109.36M	-88.79M	-67.29M	-47.48M	-33.93M	-33.10M	-29.97M	-11.66M	0.00M	-35.66M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-0.02M	1.37M	-4.09M	5.86M	-2.06M	-2.83M	-5.36M	-0.68M	-0.75M	-0.25M	1.17M	15.60M	13.63M	39.47M	0.87M	0.03M	1.26M	0.64M	0.77M	4.47M	1.60M	-0.01M	0.00M	0.02M	0.00M	7.20M
Net Cash from Financing Activities	-893.94M	-241.27M	-872.23M	-183.73M	-128.79M	-90.21M	-71.56M	-48.05M	-34.56M	-31.33M	-28.13M	-46.65M	-39.23M	18.85M	-19.55M	-31.98M	-14.05M	13.62M	-9.79M	21.76M	7.33M	2.71M	35.72M	0.50M	15.39M	7.20M
Effect of FX on Cash	-0.13M	8.57M	-8.47M	-3.31M	-6.04M	3.40M	4.93M	-0.88M	-2.21M	1.62M	-2.09M	-1.29M	-0.49M	0.90M	0.21M	0.43M	0.60M	0.20M	-0.04M	0.14M	-0.03M	-0.26M	0.24M	0.01M	0.00M	0.10M
Net Change in Cash	380.91M	279.30M	130.76M	272.45M	99.34M	-145.68M	162.00M	0.26M	89.94M	-29.94M	21.84M	-35.41M	25.05M	26.11M	-21.27M	48.36M	1.29M	-36.55M	0.15M	32.30M	25.73M	-6.93M	20.38M	-5.09M	11.96M	4.40M
Cash at Beginning of Period	2,817.43M	2,020.97M	561.18M	288.73M	189.39M	335.07M	173.08M	172.82M	82.87M	112.70M	90.86M	126.27M	101.21M	75.10M	96.37M	48.01M	46.72M	83.27M	83.11M	50.82M	25.09M	32.02M	11.64M	17.22M	5.26M	172.70M
Cash at End of Period	3,198.34M	2,300.28M	691.94M	561.18M	288.73M	189.39M	335.07M	173.08M	172.82M	82.76M	112.70M	90.86M	126.27M	101.21M	75.10M	96.37M	48.01M	46.72M	83.27M	83.11M	50.82M	25.09M	32.02M	12.14M	17.22M	177.10M
Operating Cash Flow	900.97M	774.04M	788.41M	638.21M	246.67M	320.01M	267.80M	216.30M	141.45M	133.82M	107.79M	69.74M	74.13M	60.69M	24.91M	43.69M	48.49M	31.76M	39.59M	24.34M	11.82M	17.21M	3.11M	-2.95M	-2.35M	-2.40M
Capital Expenditure	-195.80M	-95.12M	-146.12M	-57.58M	-58.84M	-95.24M	-55.64M	-96.79M	-22.53M	-65.77M	-37.11M	-16.02M	-9.51M	-15.76M	-21.06M	-21.02M	-22.78M	-10.26M	-5.23M	-6.65M	-7.47M	-1.88M	-3.22M	-1.63M	-1.07M	-0.50M
Free Cash Flow	705.17M	678.92M	642.29M	580.64M	187.83M	224.77M	212.16M	119.52M	118.93M	68.05M	70.67M	53.71M	64.62M	44.92M	3.85M	22.66M	25.72M	21.50M	34.36M	17.69M	4.35M	15.33M	-0.10M	-4.59M	-3.43M	-2.90M

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
EBITDA	740.32M	522.24M	575.79M	521.90M	563.90M	291.12M	185.87M	119.89M	127.72M	94.77M	68.89M	55.85M	40.40M	35.70M	23.67M	25.53M	43.93M	26.10M	28.23M	32.53M	31.26M	36.97M	21.03M	0.87M	-2.49M	-0.45M
(-) Tax Adjustment	0.00M	88.57M	0.00M	80.96M	93.74M	32.29M	5.45M	4.54M	14.24M	20.27M	5.47M	9.62M	1.00M	1.65M	2.82M	0.79M	2.60M	0.61M	1.35M	11.35M	10.94M	12.94M	3.86M	0.00M	0.00M	0.00M
(-) Change In Working Capital	-47.72M	158.70M	92.07M	30.32M	-386.96M	-71.64M	3.00M	17.81M	-37.52M	15.70M	-2.95M	-12.65M	-8.05M	4.53M	-21.26M	6.59M	-8.62M	-11.12M	-5.58M	-3.45M	-2.14M	5.28M	-4.49M	-3.99M	0.07M	0.50M
(-) Capital Expenditure	-195.80M	-95.12M	-146.12M	-57.58M	-58.84M	-95.24M	-55.64M	-96.79M	-22.53M	-65.77M	-37.11M	-16.02M	-9.51M	-15.76M	-21.06M	-21.02M	-22.78M	-10.26M	-5.23M	-6.65M	-7.47M	-1.88M	-3.22M	-1.63M	-1.07M	-0.50M
Unlevered Free Cash Flow	592.24M	179.85M	337.60M	353.04M	798.27M	235.23M	121.78M	0.76M	128.47M	-6.97M	29.26M	42.85M	37.95M	13.76M	21.04M	-2.87M	27.18M	26.35M	27.23M	17.97M	14.98M	16.88M	18.43M	3.22M	-3.63M	-1.45M
(-) Net Interest Income After Taxes	30.22M	22.31M	27.09M	19.74M	11.98M	10.35M	9.05M	7.03M	5.62M	4.21M	2.29M	1.33M	1.08M	0.09M	0.54M	0.65M	1.09M	1.02M	3.42M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.40M	0.00M	0.00M	0.00M	15.39M	0.00M
Levered Free Cash Flow	562.01M	157.53M	310.51M	333.30M	786.29M	224.88M	112.72M	-6.27M	122.86M	-11.18M	26.97M	41.52M	36.86M	13.67M	20.50M	-3.52M	26.09M	25.32M	23.81M	17.97M	15.38M	16.88M	18.43M	3.22M	11.76M	-1.45M