Microsoft Corporation (MSFT)

Industry: Software - Infrastructure Sector: Technology Currency Used: US Live Price: $459.86

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	517.95	497.41	463.58	433.28	330.16	259.47	281.23	198.49	137.86	101.77	73.71	56.54	46.14	43.88	33.42	29.76	25.56	26.18	24.59	25.51	30.68	26.93	25.22	26.97	26.26	26.06	30.72	36.25	48.39	27.92	14.99	8.16
Market Capitalization	3,849,922.35M	3,697,248.53M	3,445,940.05M	3,220,531.54M	2,454,312.67M	1,938,337.09M	2,114,670.22M	1,503,314.28M	1,053,734.64M	782,142.27M	568,561.44M	441,964.52M	370,927.26M	362,008.40M	278,756.46M	249,845.06M	214,969.65M	226,350.68M	218,519.91M	233,634.77M	290,910.58M	270,528.41M	270,186.69M	292,318.85M	282,748.53M	280,904.94M	330,373.41M	379,429.86M	495,065.31M	275,696.43M	143,685.57M	79,281.11M
(-) Cash & Equivalents	28,849.00M	30,242.00M	29,306.33M	19,067.75M	39,755.75M	16,239.75M	16,923.75M	14,230.75M	11,137.25M	10,735.50M	8,529.75M	9,019.00M	6,406.25M	8,242.25M	5,781.50M	6,094.75M	10,030.50M	6,461.00M	7,901.50M	9,877.25M	6,954.75M	6,750.00M	3,922.50M	9,837.25M	5,663.75M	4,755.50M	4,110.00M	4,052.50M	5,171.50M	4,813.25M	3,521.25M	2,913.00M
(+) Total Debt	60,556.00M	60,588.00M	60,570.33M	67,685.00M	73,462.50M	60,737.25M	65,618.75M	71,389.75M	77,593.00M	81,362.50M	90,429.25M	64,878.75M	37,539.00M	24,338.00M	17,175.75M	12,505.00M	11,923.75M	8,067.50M	4,934.00M	993.75M	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	3,881,629.35M	3,727,594.53M	3,477,204.05M	3,269,148.79M	2,488,019.42M	1,982,834.59M	2,163,365.22M	1,560,473.28M	1,120,190.39M	852,769.27M	650,460.94M	497,824.27M	402,060.01M	378,104.15M	290,150.71M	256,255.31M	216,862.90M	227,957.18M	215,552.41M	224,751.27M	283,955.83M	263,778.41M	266,264.19M	282,481.60M	277,084.78M	276,149.44M	326,263.41M	375,377.36M	489,893.81M	270,883.18M	140,164.32M	76,368.11M

Income Statement

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Revenue	293,812M	254,190M	281,724M	245,122M	211,915M	198,270M	168,088M	143,015M	125,843M	110,360M	96,571M	91,154M	93,580M	86,833M	77,849M	73,723M	69,943M	62,484M	58,437M	60,420M	51,122M	44,282M	39,788M	36,835M	32,187M	28,365M	25,296M	22,956M	19,747M	15,262M	11,936M	8,671M
Cost of Revenue	91,775M	77,911M	87,831M	74,114M	65,863M	62,650M	52,232M	46,078M	42,910M	38,353M	34,261M	32,780M	33,038M	27,078M	20,385M	17,530M	15,577M	12,395M	12,155M	11,598M	10,693M	7,650M	6,031M	6,716M	6,059M	5,191M	3,455M	3,002M	1,804M	1,436M	1,613M	708M
Gross Profit	202,037M	176,279M	193,893M	171,008M	146,052M	135,620M	115,856M	96,937M	82,933M	72,007M	62,310M	58,374M	60,542M	59,755M	57,464M	56,193M	54,366M	50,089M	46,282M	48,822M	40,429M	36,632M	33,757M	30,119M	26,128M	23,174M	21,841M	19,954M	17,943M	13,826M	10,323M	7,963M
Gross Profit Margin	68.8%	69.3%	68.8%	69.8%	68.9%	68.4%	68.9%	67.8%	65.9%	65.2%	64.5%	64.0%	64.7%	68.8%	73.8%	76.2%	77.7%	80.2%	79.2%	80.8%	79.1%	82.7%	84.8%	81.8%	81.2%	81.7%	86.3%	86.9%	90.9%	90.6%	86.5%	91.8%
R&D Expenses	33,090M	30,395M	32,488M	29,510M	27,195M	24,512M	20,716M	19,269M	16,876M	14,726M	13,037M	11,988M	12,046M	11,381M	10,411M	9,811M	9,043M	8,714M	9,010M	8,164M	7,121M	6,584M	6,184M	7,779M	4,659M	4,307M	4,379M	3,775M	2,970M	2,502M	1,925M	1,432M
SG&A Expenses	33,010M	32,794M	32,877M	32,065M	30,334M	27,725M	25,224M	24,709M	23,098M	22,223M	19,942M	19,198M	20,324M	20,488M	20,289M	18,426M	18,162M	17,277M	16,909M	18,387M	14,870M	13,576M	13,099M	13,306M	9,988M	6,957M	5,742M	5,176M	3,920M	3,491M	3,032M	4,405M
Operating Expenses	66,100M	63,189M	65,365M	61,575M	57,529M	52,237M	45,940M	43,978M	39,974M	36,949M	32,979M	32,296M	42,381M	31,869M	30,700M	28,237M	27,205M	25,991M	25,919M	26,551M	21,991M	20,160M	19,196M	21,085M	16,583M	11,264M	10,121M	8,948M	7,900M	7,116M	5,452M	4,885M
Operating Income (EBIT)	135,937M	113,090M	128,528M	109,433M	88,523M	83,383M	69,916M	52,959M	42,959M	35,058M	29,331M	26,078M	18,161M	27,886M	26,764M	27,956M	27,161M	24,098M	20,363M	22,271M	18,438M	16,472M	14,561M	9,034M	9,545M	11,910M	11,720M	11,006M	10,043M	6,710M	4,871M	3,078M
Operating Income Margin	46.3%	44.5%	45.6%	44.6%	41.8%	42.1%	41.6%	37.0%	34.1%	31.8%	30.4%	28.6%	19.4%	32.1%	34.4%	37.9%	38.8%	38.6%	34.8%	36.9%	36.1%	37.2%	36.6%	24.5%	29.7%	42.0%	46.3%	47.9%	50.9%	44.0%	40.8%	35.5%
Interest Income	2,942M	2,672M	2,647M	3,157M	2,994M	2,094M	2,131M	2,680M	2,762M	2,214M	1,387M	0M	0M	0M	0M	0M	900M	0M	744M	888M	1,319M	1,510M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Interest Expense	2,501M	2,992M	2,385M	2,935M	1,968M	2,063M	2,346M	2,591M	2,686M	2,733M	2,222M	1,243M	781M	597M	429M	380M	295M	151M	38M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Net Interest Income	441M	-320M	262M	222M	1,026M	31M	-215M	89M	76M	-519M	-835M	-1,243M	-781M	-597M	-429M	-380M	605M	-151M	706M	888M	1,319M	1,510M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Unusual Items	-8,719M	-1,998M	-5,163M	-1,868M	-238M	302M	1,401M	-12M	653M	1,935M	1,405M	804M	1,127M	531M	717M	-5,309M	305M	1,066M	-1,248M	655M	344M	280M	2,067M	3,162M	1,509M	-397M	-195M	3,269M	1,848M	407M	443M	301M
EBT Excluding Unusual Items	136,378M	112,770M	128,790M	109,655M	89,549M	83,414M	69,701M	53,048M	43,035M	34,539M	28,496M	24,835M	17,380M	27,289M	26,335M	27,576M	27,766M	23,947M	21,069M	23,159M	19,757M	17,982M	14,561M	9,034M	9,545M	11,910M	11,720M	11,006M	10,043M	6,710M	4,871M	3,078M
Pre-Tax Income	127,659M	110,772M	123,627M	107,787M	89,311M	83,716M	71,102M	53,036M	43,688M	36,474M	29,901M	25,639M	18,507M	27,820M	27,052M	22,267M	28,071M	25,013M	19,821M	23,814M	20,101M	18,262M	16,628M	12,196M	11,054M	11,513M	11,525M	14,275M	11,891M	7,117M	5,314M	3,379M
Pre-Tax Margin	43.4%	43.6%	43.9%	44.0%	42.1%	42.2%	42.3%	37.1%	34.7%	33.1%	31.0%	28.1%	19.8%	32.0%	34.7%	30.2%	40.1%	40.0%	33.9%	39.4%	39.3%	41.2%	41.8%	33.1%	34.3%	40.6%	45.6%	62.2%	60.2%	46.6%	44.5%	39.0%
Income Tax Expense	22,747M	20,260M	21,795M	19,651M	16,950M	10,978M	9,831M	8,755M	4,448M	19,903M	4,412M	5,100M	6,314M	5,746M	5,189M	5,289M	4,921M	6,253M	5,252M	6,133M	6,036M	5,663M	4,374M	4,028M	3,523M	3,684M	3,804M	4,854M	4,106M	2,627M	1,860M	1,184M
Net Income	104,912M	90,512M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
Net Income Margin	35.7%	35.6%	36.1%	36.0%	34.1%	36.7%	36.5%	31.0%	31.2%	15.0%	26.4%	22.5%	13.0%	25.4%	28.1%	23.0%	33.1%	30.0%	24.9%	29.3%	27.5%	28.5%	30.8%	22.2%	23.4%	27.6%	29.0%	41.0%	39.4%	29.4%	28.9%	25.3%
Depreciation & Amortization	39,831M	25,749M	34,153M	22,287M	13,861M	14,460M	11,686M	12,796M	11,682M	10,261M	8,778M	6,622M	5,957M	5,212M	3,755M	2,967M	2,766M	2,673M	2,562M	2,056M	1,440M	903M	855M	1,186M	1,393M	1,084M	1,536M	1,250M	926M	1,024M	557M	480M
EBITDA	175,768M	138,839M	162,681M	131,720M	102,384M	97,843M	81,602M	65,755M	54,641M	45,319M	38,109M	32,700M	24,118M	33,098M	30,519M	30,923M	29,927M	26,771M	22,925M	24,327M	19,878M	17,375M	15,416M	10,220M	10,938M	12,994M	13,256M	12,256M	10,969M	7,734M	5,428M	3,558M
EBITDA Margin	59.8%	54.6%	57.7%	53.7%	48.3%	49.3%	48.5%	46.0%	43.4%	41.1%	39.5%	35.9%	25.8%	38.1%	39.2%	41.9%	42.8%	42.8%	39.2%	40.3%	38.9%	39.2%	38.7%	27.7%	34.0%	45.8%	52.4%	53.4%	55.5%	50.7%	45.5%	41.0%
NOPAT	111,715M	92,406M	105,869M	89,482M	71,723M	72,449M	60,249M	44,217M	38,585M	15,928M	25,003M	20,891M	11,965M	22,126M	21,630M	21,316M	22,400M	18,074M	14,967M	16,535M	12,901M	11,364M	10,731M	6,050M	6,503M	8,099M	7,852M	7,264M	6,575M	4,233M	3,166M	1,999M
NOPAT Margin	38.0%	36.4%	37.6%	36.5%	33.8%	36.5%	35.8%	30.9%	30.7%	14.4%	25.9%	22.9%	12.8%	25.5%	27.8%	28.9%	32.0%	28.9%	25.6%	27.4%	25.2%	25.7%	27.0%	16.4%	20.2%	28.6%	31.0%	31.6%	33.3%	27.7%	26.5%	23.1%
Owner's Earnings	75,721M	66,778M	71,434M	65,946M	58,115M	63,312M	52,335M	41,636M	36,997M	15,200M	26,138M	18,818M	12,206M	21,801M	21,361M	17,640M	23,561M	19,456M	14,012M	16,555M	13,241M	11,924M	12,297M	8,245M	8,033M	8,143M	7,779M	9,792M	8,128M	4,858M	3,512M	2,181M
Owner's Earnings Margin	25.8%	26.3%	25.4%	26.9%	27.4%	31.9%	31.1%	29.1%	29.4%	13.8%	27.1%	20.6%	13.0%	25.1%	27.4%	23.9%	33.7%	31.1%	24.0%	27.4%	25.9%	26.9%	30.9%	22.4%	25.0%	28.7%	30.8%	42.7%	41.2%	31.8%	29.4%	25.2%
EPS (Basic)	14.11	12.17	13.70	11.86	9.72	9.70	8.12	5.82	5.11	2.15	3.29	2.12	1.49	2.66	2.61	2.02	2.73	2.13	1.63	1.90	1.44	1.21	1.13	0.76	0.70	0.72	0.69	0.89	0.77	0.46	0.36	0.24
EPS (Diluted)	14.05	12.12	13.64	11.80	9.68	9.65	8.05	5.76	5.06	2.13	3.25	2.56	1.48	2.63	2.58	2.00	2.69	2.10	1.62	1.87	1.42	1.20	1.12	0.75	0.69	0.70	0.66	0.85	0.71	0.42	0.33	0.21
Shares (Basic)	7,434M	7,432M	7,433M	7,431M	7,446M	7,496M	7,547M	7,610M	7,673M	7,700M	7,746M	7,925M	8,177M	8,299M	8,375M	8,396M	8,490M	8,813M	8,945M	9,328M	9,742M	10,438M	10,839M	10,803M	10,723M	10,811M	10,682M	10,334M	10,056M	9,728M	9,553M	9,340M
Shares (Diluted)	7,465M	7,471M	7,465M	7,469M	7,472M	7,540M	7,608M	7,683M	7,753M	7,794M	7,832M	8,013M	8,254M	8,399M	8,470M	8,506M	8,593M	8,927M	8,996M	9,470M	9,886M	10,531M	10,906M	10,894M	10,882M	11,106M	11,148M	11,067M	10,964M	10,724M	10,421M	10,209M

Product Segments

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30
Consulting And Product Support Services	—	—	—	—	—	—	—	—	—	—	5,588.00M	5,641.00M	5,090.00M	4,767.00M	—	3,976.00M	3,372.00M	—
Devices	17,536.00M	7,910.00M	17,314.00M	4,706.00M	5,521.00M	6,991.00M	6,791.00M	6,457.00M	6,095.00M	5,134.00M	4,557.00M	7,466.00M	11,602.00M	4,956.00M	—	—	—	—
Dynamics Products And Cloud Services	8,114.00M	6,790.00M	7,827.00M	6,481.00M	5,437.00M	—	—	—	—	—	—	—	—	—	—	—	—	—
Enterprise Services	7,854.00M	7,578.00M	7,760.00M	7,594.00M	7,722.00M	7,407.00M	6,943.00M	6,409.00M	6,124.00M	5,846.00M	—	—	—	—	4,372.00M	—	—	3,036.00M
Gaming	23,342.00M	23,205.00M	23,455.00M	21,503.00M	15,466.00M	16,230.00M	15,370.00M	11,575.00M	11,386.00M	10,353.00M	—	—	—	—	—	—	—	—
Linked In Corporation	18,234.00M	16,751.00M	17,812.00M	16,372.00M	15,145.00M	13,816.00M	10,289.00M	8,077.00M	6,754.00M	5,259.00M	2,268.00M	—	—	—	—	—	—	—
Microsoft Office System	—	41,735.00M	—	54,875.00M	48,728.00M	44,862.00M	39,872.00M	35,316.00M	31,769.00M	28,316.00M	25,389.00M	23,588.00M	23,538.00M	24,323.00M	22,995.00M	22,299.00M	20,730.00M	17,754.00M
Microsoft Three Six Five Commercial Products And Cloud Services	91,284.00M	20,449.00M	87,767.00M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Microsoft Three Six Five Consumer Products and Cloud Services	7,881.00M	1,727.00M	7,404.00M	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Other	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3,478.00M
Other Products And Services	65.00M	47.00M	72.00M	45.00M	211.00M	5,291.00M	4,479.00M	3,768.00M	3,070.00M	2,793.00M	5,538.00M	5,851.00M	6,234.00M	6,217.00M	5,590.00M	4,670.00M	3,749.00M	—
Phone	—	—	—	—	—	—	—	—	—	—	—	—	—	—	615.00M	—	—	—
Search And News Advertising	14,350.00M	12,748.00M	13,878.00M	12,576.00M	12,208.00M	11,591.00M	8,528.00M	7,740.00M	7,628.00M	7,012.00M	6,971.00M	6,098.00M	4,557.00M	4,016.00M	3,387.00M	3,181.00M	2,913.00M	2,528.00M
Server Products And Tools	105,152.00M	97,573.00M	98,435.00M	97,726.00M	79,970.00M	67,321.00M	52,589.00M	41,379.00M	32,622.00M	26,129.00M	21,758.00M	19,177.00M	18,612.00M	17,055.00M	15,408.00M	14,232.00M	13,251.00M	12,007.00M
Surface	—	—	—	—	—	—	—	—	—	—	—	—	—	—	853.00M	—	—	—
Windows	—	17,677.00M	—	23,244.00M	21,507.00M	24,761.00M	23,227.00M	22,294.00M	20,395.00M	19,518.00M	8,625.00M	8,104.00M	14,826.00M	16,856.00M	17,529.00M	17,320.00M	17,825.00M	18,225.00M
Xbox	—	—	—	—	—	—	—	—	—	—	9,256.00M	9,395.00M	9,121.00M	8,643.00M	7,100.00M	8,045.00M	8,103.00M	5,456.00M

Geographic Segments

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2011-06-30	2010-06-30
Non Us	143,102.00M	124,385.00M	137,178.00M	120,418.00M	105,171.00M	98,052.00M	84,135.00M	69,855.00M	61,644.00M	54,434.00M	44,702.00M	44,742.00M	50,639.00M	43,359.00M	36,505.00M	—	—
UNITED STATES	150,710.00M	129,805.00M	144,546.00M	124,704.00M	106,744.00M	100,218.00M	83,953.00M	73,160.00M	64,199.00M	55,926.00M	45,248.00M	40,578.00M	42,941.00M	43,474.00M	41,344.00M	—	—
Unallocated and other	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	828.00M	597.00M

Balance Sheet

Metric	MRQ	MRQ-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Cash & Cash Equivalents	28,849.00M	30,242.00M	30,242.00M	18,315.00M	34,704.00M	13,931.00M	14,224.00M	13,576.00M	11,356.00M	11,946.00M	7,663.00M	6,510.00M	5,595.00M	8,669.00M	3,804.00M	6,938.00M	9,610.00M	5,505.00M	6,076.00M	10,339.00M	6,111.00M	6,714.00M	4,851.00M	14,304.00M	6,438.00M	3,016.00M	3,922.00M	4,846.00M	4,975.00M	3,839.00M	3,706.00M	2,601.00M
Short-Term Investments	73,163.00M	64,323.00M	64,323.00M	57,216.00M	76,552.00M	90,818.00M	116,032.00M	122,951.00M	122,463.00M	121,822.00M	125,318.00M	106,730.00M	90,931.00M	77,040.00M	73,218.00M	56,102.00M	43,162.00M	31,283.00M	25,371.00M	13,323.00M	17,300.00M	27,447.00M	32,900.00M	46,288.00M	42,610.00M	35,636.00M	27,678.00M	18,952.00M	12,261.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	102,012.00M	94,565.00M	94,565.00M	75,531.00M	111,256.00M	104,749.00M	130,256.00M	136,527.00M	133,819.00M	133,768.00M	132,981.00M	113,240.00M	96,526.00M	85,709.00M	77,022.00M	63,040.00M	52,772.00M	36,788.00M	31,447.00M	23,662.00M	23,411.00M	34,161.00M	37,751.00M	60,592.00M	49,048.00M	38,652.00M	31,600.00M	23,798.00M	17,236.00M	3,839.00M	3,706.00M	2,601.00M
Net Receivables	52,894.00M	69,905.00M	69,905.00M	56,924.00M	48,688.00M	44,261.00M	38,043.00M	32,011.00M	29,524.00M	26,481.00M	22,431.00M	18,277.00M	17,908.00M	19,544.00M	17,486.00M	15,780.00M	14,987.00M	13,014.00M	11,192.00M	13,589.00M	11,338.00M	9,316.00M	7,180.00M	5,890.00M	5,196.00M	5,129.00M	3,671.00M	3,250.00M	2,245.00M	1,460.00M	980.00M	639.00M
Inventory	1,130.00M	938.00M	938.00M	1,246.00M	2,500.00M	3,742.00M	2,636.00M	1,895.00M	2,063.00M	2,662.00M	2,181.00M	2,251.00M	2,902.00M	2,660.00M	1,938.00M	1,137.00M	1,372.00M	740.00M	717.00M	985.00M	1,127.00M	1,478.00M	491.00M	421.00M	640.00M	673.00M	83.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Assets	33,030.00M	25,723.00M	25,723.00M	26,033.00M	21,813.00M	16,932.00M	13,471.00M	11,482.00M	10,146.00M	6,751.00M	5,103.00M	5,892.00M	5,461.00M	6,333.00M	5,020.00M	5,127.00M	5,787.00M	5,134.00M	5,924.00M	5,006.00M	4,292.00M	4,055.00M	3,315.00M	3,663.00M	4,089.00M	4,122.00M	3,856.00M	3,260.00M	2,221.00M	10,590.00M	5,687.00M	4,599.00M
Total Current Assets	189,066.00M	191,131.00M	191,131.00M	159,734.00M	184,257.00M	169,684.00M	184,406.00M	181,915.00M	175,552.00M	169,662.00M	162,696.00M	139,660.00M	122,797.00M	114,246.00M	101,466.00M	85,084.00M	74,918.00M	55,676.00M	49,280.00M	43,242.00M	40,168.00M	49,010.00M	48,737.00M	70,566.00M	58,973.00M	48,576.00M	39,210.00M	30,308.00M	21,702.00M	15,889.00M	10,373.00M	7,839.00M
Property, Plant & Equipment	255,652.00M	229,789.00M	229,789.00M	154,552.00M	109,987.00M	87,546.00M	70,803.00M	52,904.00M	43,856.00M	36,146.00M	30,289.00M	18,356.00M	14,731.00M	13,011.00M	9,991.00M	8,269.00M	8,162.00M	7,630.00M	7,535.00M	6,242.00M	4,350.00M	3,044.00M	2,346.00M	2,326.00M	2,223.00M	2,268.00M	2,309.00M	1,903.00M	1,611.00M	1,505.00M	1,465.00M	1,326.00M
Goodwill	119,497.00M	119,509.00M	119,509.00M	119,220.00M	67,886.00M	67,524.00M	49,711.00M	43,351.00M	42,026.00M	35,683.00M	35,122.00M	17,872.00M	16,939.00M	20,127.00M	14,655.00M	13,452.00M	12,581.00M	12,394.00M	12,503.00M	12,108.00M	4,760.00M	3,866.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	21,236.00M	22,604.00M	22,604.00M	27,597.00M	9,366.00M	11,298.00M	7,800.00M	7,038.00M	7,750.00M	8,053.00M	10,106.00M	3,733.00M	4,835.00M	6,981.00M	3,083.00M	3,170.00M	744.00M	1,158.00M	1,759.00M	1,973.00M	878.00M	539.00M	3,808.00M	3,684.00M	3,512.00M	1,669.00M	1,912.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Long-Term Investments	11,465.00M	15,405.00M	15,405.00M	14,600.00M	9,879.00M	6,891.00M	5,984.00M	2,965.00M	2,649.00M	1,862.00M	6,023.00M	10,431.00M	12,053.00M	14,597.00M	10,844.00M	9,776.00M	10,865.00M	7,754.00M	4,933.00M	6,588.00M	10,117.00M	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	279.00M	949.00M	1,389.00M	2,611.00M	3,621.00M	3,808.00M	2,161.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	39,435.00M	40,565.00M	40,565.00M	36,460.00M	30,601.00M	21,897.00M	15,075.00M	13,138.00M	14,723.00M	7,442.00M	6,076.00M	3,416.00M	3,117.00M	3,422.00M	2,392.00M	1,520.00M	1,434.00M	1,501.00M	1,599.00M	1,691.00M	1,509.00M	10,527.00M	12,303.00M	13,984.00M	14,863.00M	15,133.00M	15,399.00M	19,939.00M	15,312.00M	4,963.00M	2,549.00M	928.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Total Non-Current Assets	447,285.00M	427,872.00M	427,872.00M	352,429.00M	227,719.00M	195,156.00M	149,373.00M	119,396.00M	111,004.00M	89,186.00M	87,616.00M	53,808.00M	51,675.00M	58,138.00M	40,965.00M	36,187.00M	33,786.00M	30,437.00M	28,608.00M	29,551.00M	23,003.00M	20,587.00M	22,078.00M	23,802.00M	22,759.00M	19,070.00M	19,620.00M	21,842.00M	16,923.00M	6,468.00M	4,014.00M	2,254.00M
Total Assets	636,351.00M	619,003.00M	619,003.00M	512,163.00M	411,976.00M	364,840.00M	333,779.00M	301,311.00M	286,556.00M	258,848.00M	250,312.00M	193,468.00M	174,472.00M	172,384.00M	142,431.00M	121,271.00M	108,704.00M	86,113.00M	77,888.00M	72,793.00M	63,171.00M	69,597.00M	70,815.00M	94,368.00M	81,732.00M	67,646.00M	58,830.00M	52,150.00M	38,625.00M	22,357.00M	14,387.00M	10,093.00M
Accounts Payable	32,580.00M	27,724.00M	27,724.00M	21,996.00M	18,095.00M	19,000.00M	15,163.00M	12,530.00M	9,382.00M	8,617.00M	7,390.00M	6,898.00M	6,591.00M	7,432.00M	4,828.00M	4,175.00M	4,197.00M	4,025.00M	3,324.00M	4,034.00M	3,247.00M	2,909.00M	2,086.00M	1,717.00M	1,573.00M	1,208.00M	1,188.00M	1,083.00M	874.00M	759.00M	721.00M	808.00M
Short-Term Debt	7,832.00M	2,999.00M	2,999.00M	8,942.00M	5,247.00M	2,749.00M	8,072.00M	3,749.00M	5,516.00M	3,998.00M	10,121.00M	12,904.00M	7,484.00M	2,000.00M	2,999.00M	1,231.00M	0.00M	1,000.00M	2,000.00M	0.00M	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	3,655.00M	0.00M	0.00M	5,017.00M	4,152.00M	4,067.00M	2,174.00M	2,130.00M	5,665.00M	2,121.00M	718.00M	580.00M	606.00M	782.00M	592.00M	789.00M	580.00M	1,074.00M	725.00M	3,248.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2,022.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	58,987.00M	64,555.00M	64,555.00M	57,582.00M	50,901.00M	45,538.00M	41,525.00M	36,000.00M	32,676.00M	28,905.00M	24,013.00M	27,468.00M	23,223.00M	23,150.00M	20,639.00M	18,653.00M	15,722.00M	13,652.00M	13,003.00M	13,397.00M	10,779.00M	9,138.00M	7,502.00M	6,514.00M	7,225.00M	5,920.00M	4,395.00M	4,816.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	35,597.00M	38,729.00M	38,729.00M	31,749.00M	25,754.00M	23,728.00M	21,723.00M	17,901.00M	16,181.00M	14,847.00M	13,503.00M	11,213.00M	11,651.00M	11,703.00M	7,714.00M	7,026.00M	7,067.00M	6,214.00M	6,298.00M	6,593.00M	3,622.00M	8,457.00M	5,627.00M	5,399.00M	3,760.00M	4,471.00M	2,929.00M	3,299.00M	7,928.00M	4,971.00M	2,889.00M	1,617.00M
Total Current Liabilities	138,651.00M	134,007.00M	134,007.00M	125,286.00M	104,149.00M	95,082.00M	88,657.00M	72,310.00M	69,420.00M	58,488.00M	55,745.00M	59,063.00M	49,555.00M	45,067.00M	36,772.00M	31,874.00M	27,566.00M	25,965.00M	25,350.00M	27,272.00M	17,648.00M	20,504.00M	15,215.00M	13,630.00M	12,558.00M	13,621.00M	8,512.00M	9,198.00M	8,802.00M	5,730.00M	3,610.00M	2,425.00M
Long-Term Debt	52,724.00M	40,152.00M	40,152.00M	42,688.00M	41,990.00M	47,032.00M	50,074.00M	59,578.00M	66,662.00M	72,242.00M	76,073.00M	40,557.00M	27,808.00M	20,645.00M	12,601.00M	10,713.00M	11,921.00M	4,939.00M	3,746.00M	0.00M	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	17,348.00M	17,437.00M	17,437.00M	40,293.00M	12,728.00M	11,489.00M	9,629.00M	7,671.00M	6,188.00M	5,568.00M	7,797.00M	761.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	2,852.00M	2,835.00M	2,835.00M	2,618.00M	433.00M	230.00M	198.00M	204.00M	233.00M	541.00M	5,734.00M	1,476.00M	1,295.00M	2,728.00M	1,709.00M	1,893.00M	1,456.00M	229.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	1,731.00M	398.00M	409.00M	1,027.00M	1,385.00M	0.00M	0.00M	0.00M
Other Non-Current Liabilities	82,703.00M	71,172.00M	71,172.00M	54,995.00M	43,541.00M	41,595.00M	40,617.00M	40,064.00M	37,193.00M	35,476.00M	17,034.00M	13,640.00M	13,544.00M	11,594.00M	10,000.00M	8,208.00M	8,072.00M	7,445.00M	6,269.00M	4,721.00M	6,453.00M	7,051.00M	5,823.00M	4,574.00M	1,115.00M	2,324.00M	1,878.00M	0.00M	0.00M	0.00M	0.00M	635.00M
Total Non-Current Liabilities	155,627.00M	131,596.00M	131,596.00M	140,594.00M	98,692.00M	100,346.00M	100,518.00M	107,517.00M	110,276.00M	113,827.00M	106,638.00M	56,434.00M	42,647.00M	34,967.00M	24,310.00M	20,814.00M	21,449.00M	12,613.00M	10,015.00M	4,721.00M	6,453.00M	7,051.00M	5,823.00M	4,574.00M	2,846.00M	2,722.00M	2,287.00M	1,027.00M	1,385.00M	0.00M	0.00M	635.00M
Total Liabilities	294,278.00M	265,603.00M	265,603.00M	265,880.00M	202,841.00M	195,428.00M	189,175.00M	179,827.00M	179,696.00M	172,315.00M	162,383.00M	115,497.00M	92,202.00M	80,034.00M	61,082.00M	52,688.00M	49,015.00M	38,578.00M	35,365.00M	31,993.00M	24,101.00M	27,555.00M	21,038.00M	18,204.00M	15,404.00M	16,343.00M	10,799.00M	10,225.00M	10,187.00M	5,730.00M	3,610.00M	3,060.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	980.00M	980.00M	980.00M	0.00M
Common Stock	110,964.00M	109,095.00M	109,095.00M	100,923.00M	93,718.00M	86,939.00M	83,111.00M	80,552.00M	78,520.00M	71,223.00M	69,315.00M	68,178.00M	68,465.00M	68,366.00M	67,306.00M	65,797.00M	63,415.00M	62,856.00M	62,382.00M	62,849.00M	60,557.00M	59,005.00M	60,413.00M	56,396.00M	35,344.00M	31,647.00M	28,390.00M	23,195.00M	13,844.00M	0.00M	0.00M	0.00M
Retained Earnings	254,873.00M	237,731.00M	237,731.00M	173,144.00M	118,848.00M	84,281.00M	57,055.00M	34,566.00M	24,150.00M	13,682.00M	17,769.00M	2,282.00M	9,096.00M	17,710.00M	9,895.00M	566.00M	-6,332.00M	-16,681.00M	-22,824.00M	-27,703.00M	-31,114.00M	-20,130.00M	-13,724.00M	18,429.00M	25,676.00M	20,533.00M	18,899.00M	18,173.00M	13,614.00M	7,622.00M	5,288.00M	3,984.00M
Accumulated OCI	-2,761.00M	-3,347.00M	-3,347.00M	-5,590.00M	-6,343.00M	-4,678.00M	1,822.00M	3,186.00M	-340.00M	-2,187.00M	627.00M	1,537.00M	2,522.00M	3,708.00M	1,743.00M	1,422.00M	1,863.00M	-8,629.00M	969.00M	1,140.00M	1,654.00M	1,229.00M	1,426.00M	-4,163.00M	-3,855.00M	-3,623.00M	-2,966.00M	-2,411.00M	-1,905.00M	-1,547.00M	-1,312.00M	-1,020.00M
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	125.00M
Total Shareholders’ Equity	363,076.00M	343,479.00M	343,479.00M	268,477.00M	206,223.00M	166,542.00M	141,988.00M	118,304.00M	102,330.00M	82,718.00M	87,711.00M	71,997.00M	80,083.00M	89,784.00M	78,944.00M	67,785.00M	58,946.00M	37,546.00M	40,527.00M	36,286.00M	31,097.00M	40,104.00M	48,115.00M	70,662.00M	57,165.00M	48,557.00M	44,323.00M	38,957.00M	26,533.00M	7,055.00M	4,956.00M	2,964.00M
Total Equity	363,076.00M	343,479.00M	343,479.00M	268,477.00M	206,223.00M	166,542.00M	141,988.00M	118,304.00M	102,330.00M	82,718.00M	87,711.00M	71,997.00M	80,083.00M	89,784.00M	78,944.00M	67,785.00M	58,946.00M	37,546.00M	40,527.00M	36,286.00M	31,097.00M	40,104.00M	48,115.00M	70,662.00M	57,165.00M	48,557.00M	44,323.00M	38,957.00M	26,533.00M	7,055.00M	4,956.00M	3,089.00M
Total Liabilities & Equity	657,354.00M	609,082.00M	609,082.00M	534,357.00M	409,064.00M	361,970.00M	331,163.00M	298,131.00M	282,026.00M	255,033.00M	250,094.00M	187,494.00M	172,285.00M	169,818.00M	140,026.00M	120,473.00M	107,961.00M	76,124.00M	75,892.00M	68,279.00M	55,198.00M	67,659.00M	69,153.00M	88,866.00M	72,569.00M	64,900.00M	55,122.00M	49,182.00M	36,720.00M	12,785.00M	8,566.00M	6,149.00M
Tangible Assets	495,618.00M	476,890.00M	476,890.00M	365,346.00M	334,724.00M	286,018.00M	276,268.00M	250,922.00M	236,780.00M	215,112.00M	205,084.00M	171,863.00M	152,698.00M	145,276.00M	124,693.00M	104,649.00M	95,379.00M	72,561.00M	63,626.00M	58,712.00M	57,533.00M	65,192.00M	67,007.00M	90,684.00M	78,220.00M	65,977.00M	56,918.00M	52,150.00M	38,625.00M	22,357.00M	14,387.00M	10,093.00M
Tangible Equity	222,343.00M	201,366.00M	201,366.00M	121,660.00M	128,971.00M	87,720.00M	84,477.00M	67,915.00M	52,554.00M	38,982.00M	42,483.00M	50,392.00M	58,309.00M	62,676.00M	61,206.00M	51,163.00M	45,621.00M	23,994.00M	26,265.00M	22,205.00M	25,459.00M	35,699.00M	44,307.00M	66,978.00M	53,653.00M	46,888.00M	42,411.00M	38,957.00M	26,533.00M	7,055.00M	4,956.00M	3,089.00M
Tangible Book Value	222,343.00M	201,366.00M	201,366.00M	121,660.00M	128,971.00M	87,720.00M	84,477.00M	67,915.00M	52,554.00M	38,982.00M	42,483.00M	50,392.00M	58,309.00M	62,676.00M	61,206.00M	51,163.00M	45,621.00M	23,994.00M	26,265.00M	22,205.00M	25,459.00M	35,699.00M	44,307.00M	66,978.00M	53,653.00M	46,888.00M	42,411.00M	38,957.00M	26,533.00M	7,055.00M	4,956.00M	3,089.00M
Total Investments	84,628.00M	79,728.00M	79,728.00M	71,816.00M	86,431.00M	97,709.00M	122,016.00M	125,916.00M	125,112.00M	123,684.00M	131,341.00M	117,161.00M	102,984.00M	91,637.00M	84,062.00M	65,878.00M	54,027.00M	39,037.00M	30,304.00M	19,911.00M	27,417.00M	27,447.00M	32,900.00M	46,288.00M	42,610.00M	35,636.00M	27,678.00M	18,952.00M	12,261.00M	0.00M	0.00M	0.00M
Net Debt	31,707.00M	12,909.00M	12,909.00M	33,315.00M	12,533.00M	35,850.00M	43,922.00M	49,751.00M	60,822.00M	64,294.00M	78,531.00M	46,951.00M	29,697.00M	13,976.00M	11,796.00M	5,006.00M	2,311.00M	434.00M	-330.00M	-10,339.00M	-6,111.00M	-6,714.00M	-4,851.00M	-14,304.00M	-6,438.00M	-3,016.00M	-3,922.00M	-4,846.00M	-4,975.00M	-3,839.00M	-3,706.00M	-2,601.00M

Capital Metrics

Metric	MRQ	MRQ-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Working Capital	54,070.0M	49,913.0M	49,913.0M	34,448.0M	80,108.0M	74,602.0M	95,749.0M	109,605.0M	106,132.0M	111,174.0M	106,951.0M	80,303.0M	73,150.0M	68,621.0M	64,049.0M	52,396.0M	46,144.0M	29,529.0M	22,246.0M	13,356.0M	16,414.0M	26,568.0M	31,860.0M	55,597.0M	44,999.0M	35,832.0M	29,956.0M	20,553.0M	12,900.0M	10,159.0M	6,763.0M	5,414.0M
Total Capital	423,632.0M	404,067.0M	404,067.0M	335,604.0M	266,188.0M	227,812.0M	209,763.0M	189,302.0M	180,696.0M	164,526.0M	179,277.0M	125,458.0M	115,375.0M	112,429.0M	94,544.0M	78,307.0M	69,004.0M	52,114.0M	45,304.0M	36,286.0M	31,097.0M	40,104.0M	48,115.0M	74,825.0M	61,020.0M	52,180.0M	47,289.0M	41,368.0M	28,438.0M	16,627.0M	10,777.0M	6,908.0M
Capital Employed	501,355.0M	477,785.0M	477,785.0M	386,877.0M	307,827.0M	269,758.0M	245,122.0M	229,001.0M	217,136.0M	200,360.0M	194,567.0M	134,111.0M	124,825.0M	126,759.0M	105,014.0M	88,583.0M	79,930.0M	59,966.0M	50,854.0M	42,907.0M	39,417.0M	47,155.0M	53,938.0M	79,399.0M	67,758.0M	54,902.0M	49,576.0M	42,395.0M	29,823.0M	16,627.0M	10,777.0M	7,668.0M
Invested Capital	394,783.0M	373,825.0M	373,825.0M	317,289.0M	231,484.0M	213,881.0M	195,539.0M	175,726.0M	169,340.0M	152,580.0M	171,614.0M	118,948.0M	109,780.0M	103,760.0M	90,740.0M	71,369.0M	59,394.0M	46,609.0M	39,228.0M	25,947.0M	24,986.0M	33,390.0M	43,264.0M	60,521.0M	54,582.0M	49,164.0M	43,367.0M	36,522.0M	23,463.0M	12,788.0M	7,071.0M	4,307.0M

Cash Flow Statement

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	104,912.00M	90,512.00M	101,832.00M	88,136.00M	72,361.00M	72,738.00M	61,271.00M	44,281.00M	39,240.00M	16,571.00M	25,489.00M	20,539.00M	12,193.00M	22,074.00M	21,863.00M	16,978.00M	23,150.00M	18,760.00M	14,569.00M	17,681.00M	14,065.00M	12,599.00M	12,254.00M	8,168.00M	7,531.00M	7,829.00M	7,346.00M	9,421.00M	7,785.00M	4,490.00M	3,454.00M	2,195.00M
Depreciation & Amortization	39,831.00M	25,749.00M	34,153.00M	22,287.00M	13,861.00M	14,460.00M	11,686.00M	12,796.00M	11,682.00M	10,261.00M	8,778.00M	6,622.00M	5,957.00M	5,212.00M	3,755.00M	2,967.00M	2,766.00M	2,673.00M	2,562.00M	2,056.00M	1,440.00M	903.00M	855.00M	1,186.00M	1,439.00M	1,084.00M	1,536.00M	748.00M	1,010.00M	1,024.00M	557.00M	480.00M
Deferred Income Tax	-3,132.00M	-5,603.00M	-7,056.00M	-4,738.00M	-6,059.00M	-5,702.00M	-150.00M	11.00M	-6,463.00M	-5,143.00M	-829.00M	2,479.00M	224.00M	-331.00M	-19.00M	954.00M	2.00M	-220.00M	762.00M	935.00M	421.00M	219.00M	-179.00M	-1,479.00M	-1,348.00M	-416.00M	-420.00M	-425.00M	0.00M	0.00M	0.00M	0.00M
Stock-Based Compensation	12,125.00M	11,059.00M	11,974.00M	10,734.00M	9,611.00M	7,502.00M	6,118.00M	5,289.00M	4,652.00M	3,940.00M	3,266.00M	2,668.00M	2,574.00M	2,446.00M	2,406.00M	2,244.00M	2,166.00M	1,891.00M	1,708.00M	1,479.00M	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	9,478.00M	262.00M	-5,350.00M	1,824.00M	-2,388.00M	446.00M	-936.00M	-1,483.00M	3,866.00M	20,467.00M	4,876.00M	610.00M	46,585.00M	44,949.00M	42,878.00M	35,930.00M	28,224.00M	30,035.00M	-178.00M	22,097.00M	-961.00M	-2,397.00M	174.00M	1,320.00M	634.00M	1,992.00M	298.00M	-2,623.00M	1,479.00M	2,623.00M	678.00M	1,044.00M
Accounts Receivable	-8,128.00M	-4,188.00M	-10,581.00M	-7,191.00M	-4,087.00M	-6,834.00M	-6,481.00M	-2,577.00M	-2,812.00M	-3,862.00M	-1,216.00M	562.00M	1,456.00M	-1,120.00M	-1,807.00M	-1,156.00M	-1,451.00M	-2,238.00M	2,215.00M	-1,569.00M	-1,764.00M	-2,071.00M	-1,243.00M	-687.00M	187.00M	-1,623.00M	-418.00M	-944.00M	-687.00M	-520.00M	-336.00M	-71.00M
Inventory	490.00M	1,416.00M	309.00M	1,284.00M	1,242.00M	-1,123.00M	-737.00M	168.00M	597.00M	-465.00M	50.00M	600.00M	-272.00M	-161.00M	-802.00M	184.00M	-561.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Accounts Payable	871.00M	1,415.00M	569.00M	3,545.00M	-2,721.00M	2,943.00M	2,798.00M	3,018.00M	232.00M	1,148.00M	81.00M	88.00M	-1,054.00M	473.00M	537.00M	-31.00M	58.00M	0.00M	0.00M	0.00M	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	16,245.00M	1,619.00M	4,353.00M	4,186.00M	3,178.00M	5,460.00M	3,484.00M	-2,092.00M	5,849.00M	23,646.00M	5,961.00M	-640.00M	46,455.00M	45,757.00M	44,950.00M	36,933.00M	30,178.00M	31,473.00M	-1,977.00M	23,666.00M	803.00M	-326.00M	1,417.00M	2,007.00M	447.00M	3,615.00M	716.00M	-1,679.00M	2,166.00M	3,143.00M	1,014.00M	1,115.00M
Other Non-Cash Items	-16,175.00M	166.00M	609.00M	305.00M	196.00M	-409.00M	-1,249.00M	-219.00M	-792.00M	-2,212.00M	-2,073.00M	407.00M	-37,865.00M	-41,848.00M	-42,050.00M	-27,447.00M	-29,314.00M	-29,066.00M	-386.00M	-22,636.00M	1,281.00M	1,365.00M	3,501.00M	5,431.00M	7,587.00M	4,020.00M	4,662.00M	3,803.00M	2,947.00M	296.00M	0.00M	0.00M
Net Cash from Operating Activities	147,039.00M	122,145.00M	136,162.00M	118,548.00M	87,582.00M	89,035.00M	76,740.00M	60,675.00M	52,185.00M	43,884.00M	39,507.00M	33,325.00M	29,668.00M	32,502.00M	28,833.00M	31,626.00M	26,994.00M	24,073.00M	19,037.00M	21,612.00M	17,796.00M	14,404.00M	16,605.00M	14,626.00M	15,797.00M	14,509.00M	13,422.00M	11,426.00M	13,137.00M	8,433.00M	4,689.00M	3,719.00M
Capital Expenditures (PPE)	-69,022.00M	-49,483.00M	-64,551.00M	-44,477.00M	-28,107.00M	-23,886.00M	-20,622.00M	-15,441.00M	-13,925.00M	-11,632.00M	-8,129.00M	-8,343.00M	-5,944.00M	-5,485.00M	-4,257.00M	-2,305.00M	-2,355.00M	-1,977.00M	-3,119.00M	-3,182.00M	-2,264.00M	-1,578.00M	-812.00M	-1,109.00M	-891.00M	-770.00M	-1,103.00M	-879.00M	-583.00M	-656.00M	-499.00M	-494.00M
Acquisitions (Net)	-4,707.00M	-69,795.00M	-5,978.00M	-69,132.00M	-1,670.00M	-22,038.00M	-8,909.00M	-2,521.00M	-2,388.00M	-888.00M	-25,944.00M	-1,393.00M	-3,723.00M	-5,937.00M	-1,584.00M	-10,112.00M	-71.00M	-245.00M	-868.00M	-8,053.00M	-1,150.00M	-649.00M	-207.00M	-4.00M	-1,063.00M	0.00M	0.00M	0.00M	0.00M	-190.00M	0.00M	0.00M
Purchases of Investments	-45,826.00M	-10,892.00M	-29,775.00M	-17,732.00M	-37,651.00M	-26,456.00M	-62,924.00M	-77,190.00M	-57,697.00M	-137,380.00M	-176,905.00M	-129,758.00M	-98,729.00M	-72,690.00M	-75,396.00M	-57,250.00M	-35,993.00M	-31,670.00M	-37,780.00M	-20,954.00M	-36,308.00M	-51,117.00M	-68,045.00M	-92,495.00M	-89,621.00M	-89,386.00M	-66,346.00M	-43,158.00M	-36,441.00M	-4,828.00M	-921.00M	-1,551.00M
Sales / Maturities of Investments	30,577.00M	18,725.00M	25,388.00M	35,669.00M	47,864.00M	44,894.00M	65,800.00M	84,170.00M	58,237.00M	143,937.00M	164,394.00M	115,341.00M	85,861.00M	65,366.00M	57,594.00M	45,275.00M	23,803.00M	22,578.00M	25,997.00M	27,729.00M	46,187.00M	58,230.00M	84,091.00M	90,863.00M	84,362.00M	79,311.00M	58,715.00M	32,110.00M	25,754.00M	0.00M	0.00M	0.00M
Other Investing Activities	3,230.00M	-1,229.00M	2,317.00M	-1,298.00M	-3,116.00M	-2,825.00M	-922.00M	-1,241.00M	0.00M	-98.00M	-197.00M	203.00M	-466.00M	-87.00M	-168.00M	-394.00M	0.00M	-1,502.00M	-930.00M	-127.00M	-376.00M	3,117.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	79.00M	-1,598.00M	-1,669.00M	-625.00M
Net Cash from Investing Activities	-85,748.00M	-112,674.00M	-72,599.00M	-96,970.00M	-22,680.00M	-30,311.00M	-27,577.00M	-12,223.00M	-15,773.00M	-6,061.00M	-46,781.00M	-23,950.00M	-23,001.00M	-18,833.00M	-23,811.00M	-24,786.00M	-14,616.00M	-11,314.00M	-15,770.00M	-4,587.00M	6,089.00M	8,003.00M	15,027.00M	-2,745.00M	-7,213.00M	-10,845.00M	-8,734.00M	-11,927.00M	-11,191.00M	-7,272.00M	-3,089.00M	-2,670.00M
Net Debt Issuance	6,712.00M	-30,402.00M	-8,962.00M	575.00M	-2,750.00M	-9,023.00M	-3,750.00M	-5,518.00M	-4,000.00M	-10,201.00M	31,459.00M	18,283.00M	13,661.00M	6,962.00M	3,537.00M	0.00M	5,960.00M	190.00M	5,746.00M	0.00M	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 Debt Issuance	966.00M	-11,214.00M	-3,216.00M	-4,675.00M	-2,750.00M	-9,023.00M	-3,750.00M	-5,518.00M	-4,000.00M	-2,877.00M	36,422.00M	11,088.00M	9,180.00M	6,462.00M	3,537.00M	0.00M	6,146.00M	1,181.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Short-Term Debt Issuance	5,746.00M	-19,188.00M	-5,746.00M	5,250.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-7,324.00M	-4,963.00M	7,195.00M	4,481.00M	500.00M	0.00M	0.00M	-186.00M	-991.00M	5,746.00M	0.00M	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	-17,924.00M	-14,507.00M	-16,364.00M	-15,252.00M	-20,379.00M	-30,855.00M	-25,692.00M	-21,625.00M	-18,401.00M	-9,719.00M	-11,016.00M	-15,301.00M	-13,809.00M	-6,709.00M	-4,429.00M	-3,116.00M	-9,133.00M	-8,958.00M	-8,774.00M	-9,039.00M	-20,793.00M	-17,106.00M	-4,948.00M	-635.00M	-4,366.00M	-4,572.00M	-5,821.00M	-2,179.00M	-834.00M	-971.00M	-1,282.00M	-757.00M
Common Stock Issuance	2,039.00M	2,023.00M	2,056.00M	2,002.00M	1,866.00M	1,841.00M	1,693.00M	1,343.00M	1,142.00M	1,002.00M	772.00M	668.00M	634.00M	607.00M	931.00M	1,913.00M	2,422.00M	2,311.00M	579.00M	3,494.00M	6,782.00M	2,101.00M	3,109.00M	2,748.00M	2,120.00M	1,497.00M	1,620.00M	2,717.00M	2,116.00M	1,497.00M	1,819.00M	504.00M
Common Stock Repurchased	-19,963.00M	-16,530.00M	-18,420.00M	-17,254.00M	-22,245.00M	-32,696.00M	-27,385.00M	-22,968.00M	-19,543.00M	-10,721.00M	-11,788.00M	-15,969.00M	-14,443.00M	-7,316.00M	-5,360.00M	-5,029.00M	-11,555.00M	-11,269.00M	-9,353.00M	-12,533.00M	-27,575.00M	-19,207.00M	-8,057.00M	-3,383.00M	-6,486.00M	-6,069.00M	-7,441.00M	-4,896.00M	-2,950.00M	-2,468.00M	-3,101.00M	-1,261.00M
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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Dividends Paid	-24,677.00M	-22,294.00M	-24,082.00M	-21,771.00M	-19,800.00M	-18,135.00M	-16,521.00M	-15,137.00M	-13,811.00M	-12,699.00M	-11,845.00M	-11,006.00M	-9,882.00M	-8,879.00M	-7,455.00M	-6,385.00M	-5,180.00M	-4,578.00M	-4,468.00M	-4,015.00M	-3,805.00M	-3,545.00M	-36,112.00M	-1,729.00M	-857.00M	0.00M	0.00M	-13.00M	-28.00M	-28.00M	-15.00M	0.00M
Common Dividends Paid	-24,677.00M	-22,294.00M	-24,082.00M	-21,771.00M	-19,800.00M	-18,135.00M	-16,521.00M	-15,137.00M	-13,811.00M	-12,699.00M	-11,845.00M	-11,006.00M	-9,882.00M	-8,879.00M	-7,455.00M	-6,385.00M	-5,180.00M	-4,578.00M	-4,468.00M	-4,015.00M	-3,805.00M	-3,545.00M	-36,112.00M	-1,729.00M	-857.00M	0.00M	0.00M	-13.00M	-28.00M	-28.00M	-15.00M	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	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-11,033.00M	-1,891.00M	-2,291.00M	-1,309.00M	-1,006.00M	-863.00M	-2,523.00M	-3,751.00M	-675.00M	-971.00M	-190.00M	-369.00M	362.00M	-39.00M	199.00M	93.00M	-23.00M	55.00M	33.00M	120.00M	54.00M	89.00M	-18.00M	0.00M	0.00M	0.00M	235.00M	0.00M	0.00M	0.00M	796.00M	352.00M
Net Cash from Financing Activities	-46,922.00M	-69,094.00M	-51,699.00M	-37,757.00M	-43,935.00M	-58,876.00M	-48,486.00M	-46,031.00M	-36,887.00M	-33,590.00M	8,408.00M	-8,393.00M	-9,668.00M	-8,665.00M	-8,148.00M	-9,408.00M	-8,376.00M	-13,291.00M	-7,463.00M	-12,934.00M	-24,544.00M	-20,562.00M	-41,078.00M	-2,364.00M	-5,223.00M	-4,572.00M	-5,586.00M	-2,192.00M	-862.00M	-999.00M	-501.00M	-405.00M
Effect of FX on Cash	-151.00M	11.00M	63.00M	-210.00M	-194.00M	-141.00M	-29.00M	-201.00M	-115.00M	50.00M	19.00M	-67.00M	-73.00M	-139.00M	-8.00M	-104.00M	103.00M	-39.00M	-67.00M	137.00M	56.00M	18.00M	-7.00M	27.00M	61.00M	2.00M	-26.00M	29.00M	52.00M	-29.00M	6.00M	-5.00M
Net Change in Cash	14,218.00M	-59,612.00M	11,927.00M	-16,389.00M	20,773.00M	-293.00M	648.00M	2,220.00M	-590.00M	4,283.00M	1,153.00M	915.00M	-3,074.00M	4,865.00M	-3,134.00M	-2,672.00M	4,105.00M	-571.00M	-4,263.00M	4,228.00M	-603.00M	1,863.00M	-9,453.00M	9,544.00M	3,422.00M	-906.00M	-924.00M	-129.00M	1,136.00M	133.00M	1,105.00M	639.00M
Cash at Beginning of Period	91,183.00M	135,706.00M	18,315.00M	34,704.00M	13,931.00M	14,224.00M	13,576.00M	11,356.00M	11,946.00M	7,663.00M	6,510.00M	5,595.00M	8,669.00M	3,804.00M	6,938.00M	9,610.00M	5,505.00M	6,076.00M	10,339.00M	6,111.00M	6,714.00M	4,851.00M	14,304.00M	6,438.00M	3,016.00M	3,922.00M	4,846.00M	4,975.00M	3,839.00M	3,706.00M	2,601.00M	1,962.00M
Cash at End of Period	105,401.00M	76,094.00M	30,242.00M	18,315.00M	34,704.00M	13,931.00M	14,224.00M	13,576.00M	11,356.00M	11,946.00M	7,663.00M	6,510.00M	5,595.00M	8,669.00M	3,804.00M	6,938.00M	9,610.00M	5,505.00M	6,076.00M	10,339.00M	6,111.00M	6,714.00M	4,851.00M	15,982.00M	6,438.00M	3,016.00M	3,922.00M	4,846.00M	4,975.00M	3,839.00M	3,706.00M	2,601.00M
Operating Cash Flow	147,039.00M	122,145.00M	136,162.00M	118,548.00M	87,582.00M	89,035.00M	76,740.00M	60,675.00M	52,185.00M	43,884.00M	39,507.00M	33,325.00M	29,668.00M	32,502.00M	28,833.00M	31,626.00M	26,994.00M	24,073.00M	19,037.00M	21,612.00M	17,796.00M	14,404.00M	16,605.00M	14,626.00M	15,797.00M	14,509.00M	13,422.00M	11,426.00M	13,137.00M	8,433.00M	4,689.00M	3,719.00M
Capital Expenditure	-69,022.00M	-49,483.00M	-64,551.00M	-44,477.00M	-28,107.00M	-23,886.00M	-20,622.00M	-15,441.00M	-13,925.00M	-11,632.00M	-8,129.00M	-8,343.00M	-5,944.00M	-5,485.00M	-4,257.00M	-2,305.00M	-2,355.00M	-1,977.00M	-3,119.00M	-3,182.00M	-2,264.00M	-1,578.00M	-812.00M	-1,109.00M	-891.00M	-770.00M	-1,103.00M	-879.00M	-583.00M	-656.00M	-499.00M	-494.00M
Free Cash Flow	78,017.00M	72,662.00M	71,611.00M	74,071.00M	59,475.00M	65,149.00M	56,118.00M	45,234.00M	38,260.00M	32,252.00M	31,378.00M	24,982.00M	23,724.00M	27,017.00M	24,576.00M	29,321.00M	24,639.00M	22,096.00M	15,918.00M	18,430.00M	15,532.00M	12,826.00M	15,793.00M	13,517.00M	14,906.00M	13,739.00M	12,319.00M	10,547.00M	12,554.00M	7,587.00M	4,190.00M	3,225.00M

Free Cash Flow

Metric	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
EBITDA	175,768.00M	138,839.00M	162,681.00M	131,720.00M	102,384.00M	97,843.00M	81,602.00M	65,755.00M	54,641.00M	45,319.00M	38,109.00M	33,810.00M	34,129.00M	33,098.00M	30,519.00M	30,923.00M	29,927.00M	26,771.00M	22,925.00M	24,327.00M	19,878.00M	17,375.00M	15,329.00M	10,220.00M	12,874.00M	12,994.00M	13,256.00M	12,253.00M	11,979.00M	8,857.00M	5,923.00M	2,606.00M
(-) Tax Adjustment	31,319.33M	25,393.40M	28,680.08M	24,014.30M	19,431.08M	12,830.53M	11,282.79M	10,854.61M	5,563.16M	15,861.65M	5,623.12M	6,725.34M	11,643.73M	6,836.13M	5,854.03M	7,345.03M	5,246.37M	6,692.48M	6,074.47M	6,265.12M	5,969.04M	5,387.94M	4,032.30M	3,375.38M	4,103.05M	4,157.90M	4,375.34M	4,166.45M	4,136.39M	3,099.95M	2,073.05M	912.10M
(-) Change In Working Capital	9,478.00M	262.00M	-5,350.00M	1,824.00M	-2,388.00M	446.00M	-936.00M	-1,483.00M	3,866.00M	20,467.00M	4,876.00M	610.00M	46,585.00M	44,949.00M	42,878.00M	35,930.00M	28,224.00M	30,035.00M	-178.00M	22,097.00M	-961.00M	-2,397.00M	174.00M	1,320.00M	634.00M	1,992.00M	298.00M	-2,623.00M	1,479.00M	2,623.00M	678.00M	1,044.00M
(-) Capital Expenditure	-69,022.00M	-49,483.00M	-64,551.00M	-44,477.00M	-28,107.00M	-23,886.00M	-20,622.00M	-15,441.00M	-13,925.00M	-11,632.00M	-8,129.00M	-8,343.00M	-5,944.00M	-5,485.00M	-4,257.00M	-2,305.00M	-2,355.00M	-1,977.00M	-3,119.00M	-3,182.00M	-2,264.00M	-1,578.00M	-812.00M	-1,109.00M	-891.00M	-770.00M	-1,103.00M	-879.00M	-583.00M	-656.00M	-499.00M	-494.00M
Unlevered Free Cash Flow	65,948.67M	63,700.60M	74,799.92M	61,404.70M	57,233.92M	60,680.47M	50,633.21M	40,942.39M	31,286.84M	-2,641.65M	19,480.88M	18,131.66M	-30,043.73M	-24,172.13M	-22,470.03M	-14,657.03M	-5,898.37M	-11,933.48M	13,909.53M	-7,217.12M	12,605.96M	12,806.06M	10,310.70M	4,415.62M	7,245.95M	6,074.10M	7,479.66M	9,830.55M	5,780.61M	2,478.05M	2,672.95M	155.90M
(-) Net Interest Income After Taxes	362.42M	-261.47M	215.81M	181.53M	831.28M	26.93M	-185.27M	74.31M	68.26M	-337.35M	-711.79M	-995.75M	-514.55M	-473.69M	-346.71M	-289.74M	498.94M	-113.25M	518.93M	659.31M	922.93M	1,041.75M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt Issuance	6,712.00M	-30,402.00M	-8,962.00M	575.00M	-2,750.00M	-9,023.00M	-3,750.00M	-5,518.00M	-4,000.00M	-10,201.00M	31,459.00M	18,283.00M	13,661.00M	6,962.00M	3,537.00M	0.00M	5,960.00M	190.00M	5,746.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Levered Free Cash Flow	72,298.25M	33,560.07M	65,622.11M	61,798.17M	53,652.65M	51,630.54M	47,068.48M	35,350.08M	27,218.58M	-12,505.30M	51,651.67M	37,410.41M	-15,868.18M	-16,736.43M	-18,586.31M	-14,367.29M	-437.31M	-11,630.23M	19,136.60M	-7,876.42M	11,683.04M	11,764.30M	10,310.70M	4,415.62M	7,245.95M	6,074.10M	7,479.66M	9,830.55M	5,780.61M	2,478.05M	2,672.95M	155.90M