Auto - Parts

Category: Industry Averages Base Ticker: 0951.HK

Methodology: Industry metrics are calculated using the Top 100 companies by revenue within the industry. Values shown represent averages, not aggregates, and are winsorized at the 80/20 percentile to reduce the impact of extreme outliers. All financials are USD-normalized and intended to reflect the core economic structure of the industry.

Industry Enterprise Value

Metric	MRQ	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	1995
Stock Price	18.93	14.56	17.54	15.07	18.74	15.27	16.31	17.55	20.65	17.51	16.87	14.94	16.20	11.66	10.24	10.66	6.24	7.06	13.21	11.42	8.81	6.76	4.37	3.35	4.09	3.01	5.12	7.59	7.05	6.36	4.36
Market Capitalization	4,420.82M	3,186.22M	3,360.50M	2,997.10M	3,814.15M	3,226.53M	3,406.84M	3,256.05M	4,138.00M	3,239.64M	2,916.68M	2,550.73M	2,248.45M	1,720.53M	1,627.14M	1,708.88M	1,030.40M	867.62M	1,430.82M	1,209.50M	804.10M	390.48M	295.66M	399.42M	444.93M	491.72M	413.30M	465.97M	395.81M	353.05M	305.84M
(-) Cash & Equivalents	639.51M	698.92M	737.35M	674.10M	758.50M	750.86M	505.95M	482.49M	517.59M	464.78M	405.03M	360.55M	303.78M	281.63M	255.48M	216.03M	177.74M	140.00M	141.50M	117.65M	95.73M	44.10M	28.42M	28.06M	35.42M	33.38M	31.21M	19.87M	9.15M	8.97M	5.47M
(+) Total Debt	1,814.66M	1,583.13M	1,716.23M	1,685.86M	1,745.78M	1,541.52M	1,502.21M	1,254.44M	1,136.93M	1,044.62M	957.40M	819.64M	767.92M	644.65M	560.85M	445.43M	427.71M	514.43M	410.92M	298.59M	274.35M	160.16M	81.47M	92.68M	101.87M	105.88M	143.13M	109.23M	47.79M	43.35M	36.76M
Enterprise Value	5,651.63M	4,424.32M	4,784.89M	4,387.76M	4,997.69M	4,097.15M	4,200.95M	3,859.06M	4,870.98M	3,712.39M	3,359.88M	2,984.18M	2,613.01M	2,265.17M	2,018.57M	1,911.41M	1,310.75M	1,236.88M	1,678.52M	1,404.84M	1,137.57M	584.84M	379.79M	555.00M	660.70M	662.85M	610.66M	546.13M	410.95M	393.01M	325.91M

Industry Income Statement

Metric	TTM	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	1995
Revenue	6,674.621M	6,483.174M	6,764.511M	6,113.734M	5,778.872M	4,987.696M	5,279.006M	5,171.462M	4,657.855M	4,413.296M	4,051.670M	3,762.673M	3,485.249M	3,150.536M	2,883.934M	2,443.594M	2,111.225M	2,317.714M	2,179.331M	1,647.858M	1,377.595M	611.100M	341.170M	424.505M	629.561M	714.534M	664.258M	492.122M	308.532M	307.649M	203.962M
Cost of Revenue	4,962.979M	4,712.230M	5,035.007M	4,636.101M	4,103.063M	3,850.962M	4,028.427M	3,898.181M	3,445.547M	3,350.777M	3,028.626M	2,935.794M	2,702.580M	2,484.296M	2,066.813M	1,768.158M	1,600.240M	1,766.184M	1,589.577M	1,265.629M	1,081.913M	431.150M	245.561M	276.968M	443.025M	531.714M	482.783M	377.394M	209.893M	215.644M	136.669M
Gross Profit	1,711.642M	1,770.944M	1,729.504M	1,477.633M	1,675.809M	1,136.734M	1,250.579M	1,273.281M	1,212.308M	1,062.519M	1,023.044M	826.879M	782.669M	666.240M	817.122M	675.435M	510.986M	551.530M	589.754M	382.229M	295.683M	179.951M	95.610M	147.537M	186.535M	182.820M	181.475M	114.728M	98.639M	92.005M	67.293M
Gross Margin	25.64%	27.32%	25.57%	24.17%	29.00%	22.79%	23.69%	24.62%	26.03%	24.08%	25.25%	21.98%	22.46%	21.15%	28.33%	27.64%	24.20%	23.80%	27.06%	23.20%	21.46%	29.45%	28.02%	34.76%	29.63%	25.59%	27.32%	23.31%	31.97%	29.91%	32.99%
R&D Expenses	76.776M	133.487M	137.653M	133.790M	121.722M	128.825M	122.484M	121.355M	94.792M	87.897M	73.644M	61.031M	50.061M	28.936M	17.667M	14.731M	9.623M	9.247M	5.889M	3.403M	2.289M	0.332M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	576.658M	497.939M	582.301M	466.375M	407.157M	419.122M	442.082M	414.268M	393.813M	379.135M	363.803M	335.088M	262.897M	218.912M	163.159M	152.991M	125.081M	141.610M	151.099M	142.839M	119.765M	66.434M	47.966M	56.957M	71.563M	82.948M	63.612M	50.575M	47.507M	45.870M	26.795M
Operating Expenses	653.434M	631.427M	719.954M	600.165M	528.878M	547.947M	564.566M	535.623M	488.605M	467.033M	437.447M	396.119M	312.958M	247.848M	180.826M	167.722M	134.704M	150.857M	156.987M	146.243M	122.054M	66.766M	47.966M	56.957M	71.563M	82.948M	63.612M	50.575M	47.507M	45.870M	26.795M
Operating Income	1,058.208M	1,139.517M	1,009.549M	877.468M	1,146.931M	588.787M	686.013M	737.658M	723.704M	595.487M	585.597M	430.760M	469.710M	418.392M	636.296M	507.713M	376.282M	400.673M	432.767M	235.986M	173.628M	113.185M	47.644M	90.580M	114.973M	99.872M	117.862M	64.153M	51.132M	46.134M	40.498M
Operating Margin	15.85%	17.58%	14.92%	14.35%	19.85%	11.80%	13.00%	14.26%	15.54%	13.49%	14.45%	11.45%	13.48%	13.28%	22.06%	20.78%	17.82%	17.29%	19.86%	14.32%	12.60%	18.52%	13.96%	21.34%	18.26%	13.98%	17.74%	13.04%	16.57%	15.00%	19.86%
Interest Income	16.671M	23.049M	24.040M	16.614M	11.477M	9.169M	8.764M	7.341M	6.187M	5.337M	5.518M	4.026M	4.202M	4.323M	3.668M	3.446M	3.869M	3.990M	2.343M	1.159M	1.029M	0.611M	0.163M	0.183M	0.233M	0.138M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	78.165M	79.316M	72.199M	54.783M	46.737M	47.558M	45.872M	39.385M	36.350M	32.321M	28.526M	25.978M	23.571M	23.638M	23.635M	23.623M	22.015M	22.299M	14.063M	8.009M	6.520M	4.456M	1.600M	2.033M	2.030M	1.659M	1.157M	0.914M	0.962M	0.834M	0.463M
Net Interest Income	-61.494M	-56.267M	-48.159M	-38.169M	-35.259M	-38.389M	-37.108M	-32.044M	-30.162M	-26.984M	-23.008M	-21.952M	-19.369M	-19.315M	-19.966M	-20.177M	-18.146M	-18.309M	-11.720M	-6.850M	-5.492M	-3.844M	-1.437M	-1.850M	-1.797M	-1.521M	-1.157M	-0.914M	-0.962M	-0.834M	-0.463M
Other Income / Expense	-613.655M	-731.235M	-615.075M	-551.850M	-799.149M	-381.733M	-324.468M	-342.590M	-334.048M	-249.607M	-281.111M	-148.908M	-225.218M	-219.635M	-439.619M	-349.713M	-341.098M	-300.132M	-320.705M	-164.302M	-107.445M	-69.003M	-29.104M	-73.415M	-102.377M	-66.353M	-82.082M	-35.955M	-19.762M	-20.403M	-15.526M
Pre-Tax Income	383.059M	352.015M	346.316M	287.449M	312.522M	168.664M	324.436M	363.024M	359.494M	318.895M	281.478M	259.900M	225.123M	179.442M	176.710M	137.822M	17.037M	82.232M	100.342M	64.834M	60.692M	40.338M	17.103M	15.314M	10.799M	31.998M	34.623M	27.284M	30.408M	24.898M	24.509M
Pre-Tax Margin	5.74%	5.43%	5.12%	4.70%	5.41%	3.38%	6.15%	7.02%	7.72%	7.23%	6.95%	6.91%	6.46%	5.70%	6.13%	5.64%	0.81%	3.55%	4.60%	3.93%	4.41%	6.60%	5.01%	3.61%	1.72%	4.48%	5.21%	5.54%	9.86%	8.09%	12.02%
Income Tax Expense	94.899M	91.852M	89.677M	80.786M	69.131M	51.022M	83.479M	93.239M	100.373M	81.813M	89.229M	68.059M	62.038M	44.788M	38.807M	33.973M	19.497M	39.916M	37.303M	24.438M	25.820M	13.224M	7.908M	11.187M	3.620M	10.020M	11.348M	8.838M	10.098M	8.078M	8.434M
Tax Rate	24.77%	26.09%	25.89%	28.10%	22.12%	30.25%	25.73%	25.68%	27.92%	25.66%	31.70%	26.19%	27.56%	24.96%	21.96%	24.65%	35.00%	35.00%	35.00%	35.00%	35.00%	32.78%	35.00%	35.00%	33.53%	31.31%	32.78%	32.39%	33.21%	32.45%	34.41%
Net Income	288.160M	260.163M	256.639M	206.663M	243.391M	117.642M	240.957M	269.785M	259.120M	237.082M	192.249M	191.841M	163.086M	134.654M	137.903M	103.849M	-2.460M	42.316M	63.039M	40.396M	34.872M	27.114M	9.196M	4.127M	7.178M	21.978M	23.275M	18.446M	20.310M	16.820M	16.075M
Net Margin	4.32%	4.01%	3.79%	3.38%	4.21%	2.36%	4.56%	5.22%	5.56%	5.37%	4.74%	5.10%	4.68%	4.27%	4.78%	4.25%	-0.12%	1.83%	2.89%	2.45%	2.53%	4.44%	2.70%	0.97%	1.14%	3.08%	3.50%	3.75%	6.58%	5.47%	7.88%
EBIT	1,058.208M	1,139.517M	1,009.549M	877.468M	1,146.931M	588.787M	686.013M	737.658M	723.704M	595.487M	585.597M	430.760M	469.710M	418.392M	636.296M	507.713M	376.282M	400.673M	432.767M	235.986M	173.628M	113.185M	47.644M	90.580M	114.973M	99.872M	117.862M	64.153M	51.132M	46.134M	40.498M
Depreciation & Amortization	245.019M	270.209M	285.496M	277.155M	264.906M	267.947M	257.957M	229.891M	200.407M	185.516M	168.513M	149.924M	133.840M	121.505M	121.016M	119.743M	118.366M	109.951M	90.144M	72.471M	64.093M	31.228M	16.018M	20.109M	27.736M	33.111M	24.524M	18.874M	11.447M	7.579M	3.545M
EBITDA	1,303.228M	1,409.727M	1,295.046M	1,154.623M	1,411.837M	856.734M	943.969M	967.549M	924.110M	781.003M	754.110M	580.684M	603.550M	539.897M	757.312M	627.456M	494.648M	510.624M	522.911M	308.457M	237.722M	144.413M	63.662M	110.688M	142.708M	132.984M	142.386M	83.027M	62.579M	53.713M	44.043M
EBITDA Margin	19.53%	21.74%	19.14%	18.89%	24.43%	17.18%	17.88%	18.71%	19.84%	17.70%	18.61%	15.43%	17.32%	17.14%	26.26%	25.68%	23.43%	22.03%	23.99%	18.72%	17.26%	23.63%	18.66%	26.07%	22.67%	18.61%	21.44%	16.87%	20.28%	17.46%	21.59%
NOPAT	796.048M	842.180M	748.131M	630.860M	893.224M	410.674M	509.499M	548.198M	521.640M	442.713M	399.962M	317.958M	340.272M	313.962M	496.561M	382.563M	244.583M	260.437M	281.299M	153.391M	112.858M	76.079M	30.969M	58.877M	76.427M	68.598M	79.233M	43.372M	34.152M	31.166M	26.562M
NOPAT Margin	11.93%	12.99%	11.06%	10.32%	15.46%	8.23%	9.65%	10.60%	11.20%	10.03%	9.87%	8.45%	9.76%	9.97%	17.22%	15.66%	11.58%	11.24%	12.91%	9.31%	8.19%	12.45%	9.08%	13.87%	12.14%	9.60%	11.93%	8.81%	11.07%	10.13%	13.02%
Owner's Earnings	533.180M	530.372M	542.135M	483.818M	508.296M	385.589M	498.914M	499.676M	459.527M	422.598M	360.762M	341.764M	296.926M	256.159M	258.920M	223.592M	115.906M	152.266M	153.183M	112.867M	98.965M	58.342M	25.213M	24.236M	34.914M	55.090M	47.799M	37.320M	31.757M	24.398M	19.620M
Owner's Earnings Margin	7.99%	8.18%	8.01%	7.91%	8.80%	7.73%	9.45%	9.66%	9.87%	9.58%	8.90%	9.08%	8.52%	8.13%	8.98%	9.15%	5.49%	6.57%	7.03%	6.85%	7.18%	9.55%	7.39%	5.71%	5.55%	7.71%	7.20%	7.58%	10.29%	7.93%	9.62%
EPS	0.64	0.60	0.59	0.49	0.53	0.28	0.59	0.66	0.78	0.76	0.64	0.63	0.54	0.46	0.49	0.42	-0.01	0.25	0.40	0.21	0.21	0.12	0.04	0.01	0.03	0.09	0.09	0.08	0.08	0.07	0.06
EPS (Diluted)	0.64	0.60	0.59	0.49	0.53	0.28	0.59	0.66	0.78	0.76	0.64	0.63	0.54	0.46	0.49	0.42	-0.01	0.25	0.40	0.21	0.21	0.12	0.04	0.01	0.03	0.09	0.09	0.08	0.08	0.07	0.06
Shares (Diluted)	450,550,331	433,618,140	433,795,022	423,305,303	461,831,586	427,439,035	407,916,437	407,183,031	332,210,622	312,486,244	300,748,803	302,854,114	300,112,142	295,547,786	283,378,880	250,212,720	196,657,406	166,909,110	159,526,577	192,489,676	165,454,276	225,963,095	246,497,062	282,873,049	256,208,558	239,496,041	249,912,821	242,869,230	240,043,439	237,421,278	271,148,080

Industry Balance Sheet

Metric	MRQ	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	1995
Cash & Cash Equivalents	642.32M	698.92M	737.35M	674.10M	758.51M	750.90M	505.98M	482.49M	517.59M	464.78M	407.77M	360.55M	306.08M	281.63M	261.67M	224.19M	177.74M	142.85M	142.70M	118.64M	96.54M	44.10M	28.16M	28.06M	35.89M	33.12M	35.25M	20.53M	9.33M	9.77M	5.63M
Short-Term Investments	75.61M	89.20M	68.37M	83.98M	65.86M	55.13M	49.04M	48.57M	30.34M	35.71M	65.53M	49.73M	83.30M	39.78M	47.01M	48.81M	31.28M	34.05M	21.94M	10.57M	8.94M	2.21M	1.15M	1.01M	0.52M	1.38M	0.80M	1.98M	0.70M	0.93M	0.67M
Cash & Short-Term Investments	717.93M	788.11M	805.72M	758.08M	824.37M	806.03M	555.02M	531.06M	547.93M	500.49M	473.30M	410.27M	389.38M	321.41M	308.68M	273.01M	209.02M	176.89M	164.65M	129.21M	105.48M	46.31M	29.31M	29.07M	36.41M	34.51M	36.05M	22.51M	10.03M	10.69M	6.30M
Net Receivables	1,041.96M	997.67M	1,010.05M	1,009.84M	815.54M	783.83M	873.38M	804.32M	751.22M	692.67M	589.81M	540.21M	496.23M	424.16M	373.41M	348.81M	241.71M	291.16M	266.14M	214.11M	199.53M	64.66M	32.54M	34.91M	36.15M	35.85M	36.80M	32.25M	20.88M	20.04M	18.93M
Inventory	812.96M	837.40M	870.59M	863.04M	741.35M	600.83M	613.07M	585.26M	533.19M	484.92M	487.90M	442.22M	402.22M	388.93M	334.30M	286.60M	221.50M	258.19M	242.99M	181.73M	141.65M	89.12M	49.81M	60.66M	62.32M	102.56M	86.88M	61.12M	44.70M	48.57M	31.20M
Other Current Assets	137.72M	150.21M	171.12M	184.33M	167.01M	139.30M	132.68M	208.29M	147.38M	164.77M	135.41M	147.92M	118.20M	154.67M	93.91M	75.40M	71.70M	83.68M	94.02M	50.23M	37.16M	16.89M	14.33M	25.16M	19.55M	27.53M	36.97M	27.38M	20.32M	16.87M	12.84M
Total Current Assets	2,710.57M	2,773.40M	2,857.47M	2,815.29M	2,548.26M	2,329.99M	2,174.15M	2,128.92M	1,979.72M	1,842.85M	1,686.41M	1,540.62M	1,406.04M	1,289.18M	1,110.30M	983.83M	743.94M	809.93M	767.79M	575.27M	483.82M	216.98M	125.99M	149.81M	154.44M	200.45M	196.70M	143.26M	95.92M	96.17M	69.26M
Property, Plant & Equipment	1,937.13M	1,903.91M	1,983.08M	1,866.84M	1,828.66M	1,765.32M	1,668.40M	1,589.92M	1,448.06M	1,342.74M	1,276.51M	1,188.74M	1,056.54M	861.13M	792.40M	741.51M	688.82M	720.76M	636.55M	499.65M	422.81M	236.55M	136.98M	132.04M	224.67M	226.50M	238.89M	175.12M	63.41M	68.87M	38.19M
Goodwill	201.89M	274.43M	285.32M	270.86M	259.30M	201.44M	233.08M	240.81M	180.99M	150.51M	90.13M	86.05M	78.94M	49.81M	39.72M	27.75M	16.74M	26.56M	30.34M	16.24M	2.13M	0.12M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	225.08M	199.76M	218.23M	219.31M	213.33M	186.10M	182.78M	154.92M	128.55M	107.04M	77.68M	66.84M	59.19M	52.80M	42.15M	28.65M	18.33M	26.64M	23.30M	15.83M	22.13M	11.79M	6.80M	6.49M	5.44M	12.62M	19.99M	10.78M	8.05M	4.59M	1.56M
Long-Term Investments	218.38M	233.65M	242.16M	242.94M	196.94M	195.14M	187.01M	149.30M	144.97M	126.29M	125.80M	100.13M	91.86M	76.48M	74.04M	71.57M	59.90M	72.89M	61.03M	55.14M	44.96M	6.01M	0.60M	0.89M	0.00M	0.34M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	101.78M	84.36M	94.49M	96.16M	86.37M	103.67M	83.95M	90.93M	76.64M	96.92M	63.69M	54.58M	40.58M	35.64M	24.60M	23.81M	24.08M	19.52M	16.14M	12.82M	13.32M	4.64M	1.79M	2.45M	0.16M	0.68M	0.07M	0.05M	0.00M	0.00M	0.00M
Other Non-Current Assets	173.79M	199.24M	143.08M	182.90M	169.78M	137.53M	83.05M	144.60M	111.69M	113.40M	117.05M	123.79M	107.95M	78.38M	81.75M	77.42M	47.09M	51.26M	58.28M	53.57M	48.31M	25.85M	18.16M	17.64M	15.44M	20.15M	22.63M	16.29M	15.51M	14.07M	10.00M
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
Total Non-Current Assets	2,858.04M	2,895.35M	2,966.35M	2,879.01M	2,754.37M	2,589.19M	2,438.27M	2,370.47M	2,090.90M	1,936.89M	1,750.87M	1,620.14M	1,435.06M	1,154.24M	1,054.66M	970.72M	854.95M	917.63M	825.64M	653.25M	553.67M	284.96M	164.33M	159.51M	245.71M	260.29M	281.58M	202.24M	86.98M	87.53M	49.74M
Total Assets	5,568.61M	5,668.75M	5,823.83M	5,694.30M	5,302.63M	4,919.19M	4,612.42M	4,499.39M	4,070.61M	3,779.74M	3,437.28M	3,160.77M	2,841.10M	2,443.42M	2,164.96M	1,954.54M	1,598.88M	1,727.56M	1,593.43M	1,228.52M	1,037.49M	501.94M	290.32M	309.32M	400.15M	460.73M	478.28M	345.50M	182.90M	183.70M	119.01M
Accounts Payable	1,008.71M	1,046.54M	1,096.44M	1,041.00M	901.28M	797.82M	798.23M	825.68M	762.00M	632.20M	585.29M	511.36M	457.65M	434.93M	401.47M	350.01M	255.81M	313.23M	261.65M	192.73M	166.28M	76.79M	30.25M	30.14M	32.77M	31.80M	65.37M	63.06M	22.69M	24.22M	16.01M
Short-Term Debt	507.55M	418.30M	409.78M	391.16M	341.69M	338.53M	320.70M	298.10M	261.14M	233.09M	244.01M	237.46M	210.35M	180.77M	169.81M	129.70M	135.52M	173.60M	141.18M	98.57M	87.28M	50.43M	28.03M	24.66M	28.31M	37.65M	37.16M	23.70M	17.85M	20.04M	9.66M
Tax Payables	10.25M	61.80M	49.93M	55.26M	53.33M	42.47M	42.90M	39.52M	36.89M	30.88M	26.60M	27.91M	19.97M	18.27M	14.36M	14.41M	8.61M	13.24M	9.02M	6.45M	6.58M	1.63M	0.71M	1.25M	1.00M	0.70M	0.68M	0.48M	0.43M	0.42M	0.33M
Deferred Revenue	11.10M	1.25M	30.84M	53.68M	153.04M	162.25M	150.74M	81.20M	141.92M	142.82M	117.19M	108.93M	100.35M	73.60M	59.52M	46.07M	46.87M	37.91M	39.98M	32.92M	27.28M	4.09M	3.63M	6.67M	6.44M	5.36M	3.05M	3.57M	3.48M	1.91M	2.14M
Other Current Liabilities	361.18M	386.52M	379.86M	410.10M	282.93M	231.42M	249.02M	277.49M	228.00M	230.47M	178.26M	170.92M	171.45M	161.06M	139.31M	118.21M	112.77M	115.68M	105.51M	78.22M	54.91M	23.28M	8.42M	10.21M	5.88M	22.79M	26.28M	23.62M	15.67M	9.27M	3.17M
Total Current Liabilities	1,898.79M	1,914.41M	1,966.86M	1,951.20M	1,732.26M	1,572.49M	1,561.59M	1,521.99M	1,429.94M	1,269.46M	1,151.34M	1,056.58M	959.78M	868.62M	784.47M	658.39M	559.58M	653.65M	557.35M	408.90M	342.33M	156.21M	71.04M	72.92M	74.40M	98.30M	132.54M	114.44M	60.13M	55.86M	31.31M
Long-Term Debt	1,062.25M	949.38M	1,069.40M	1,052.24M	1,071.68M	984.49M	942.92M	832.86M	768.89M	728.43M	622.01M	546.53M	500.36M	410.80M	326.07M	288.96M	257.14M	266.98M	236.59M	214.86M	160.76M	96.67M	37.10M	69.44M	62.82M	60.69M	114.24M	78.79M	27.28M	24.81M	14.55M
Capital Lease Obligations	23.98M	110.32M	112.64M	105.16M	99.67M	91.88M	53.73M	5.28M	4.01M	4.80M	3.54M	2.94M	2.43M	0.83M	0.72M	0.73M	0.85M	0.00M	0.00M	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	72.41M	76.79M	85.28M	86.73M	69.48M	60.46M	73.54M	77.22M	64.61M	48.26M	43.31M	33.22M	33.13M	24.71M	23.17M	22.62M	14.07M	17.84M	19.50M	18.49M	14.29M	4.35M	0.26M	0.65M	1.37M	0.78M	0.62M	0.50M	0.52M	0.40M	0.19M
Other Non-Current Liabilities	238.07M	201.22M	212.41M	192.46M	165.62M	161.14M	181.10M	192.35M	166.91M	172.92M	122.23M	150.07M	112.67M	81.31M	86.93M	65.18M	57.99M	62.47M	56.39M	43.35M	55.75M	25.01M	13.53M	12.70M	14.31M	43.12M	23.08M	11.14M	2.90M	4.06M	0.39M
Total Non-Current Liabilities	1,396.72M	1,337.71M	1,479.73M	1,436.58M	1,406.45M	1,297.97M	1,251.29M	1,107.71M	1,004.42M	954.42M	791.09M	732.76M	648.59M	517.64M	436.89M	377.50M	330.05M	347.30M	312.47M	276.70M	230.80M	126.02M	50.89M	82.79M	78.51M	104.58M	137.93M	90.43M	30.70M	29.27M	15.13M
Total Liabilities	3,295.51M	3,252.12M	3,446.59M	3,387.78M	3,138.72M	2,870.46M	2,812.88M	2,629.71M	2,434.36M	2,223.88M	1,942.43M	1,789.34M	1,608.37M	1,386.26M	1,221.36M	1,035.89M	889.63M	1,000.96M	869.82M	685.60M	573.13M	282.24M	121.93M	155.71M	152.91M	202.89M	270.47M	204.87M	90.83M	85.12M	46.44M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	108.95M	0.00M	0.02M	0.00M	0.00M	0.00M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	130.99M	143.74M	149.05M	147.70M	167.25M	146.51M	141.64M	144.63M	132.78M	135.70M	134.63M	117.56M	116.31M	108.72M	100.77M	79.47M	88.35M	85.01M	76.42M	64.33M	63.85M	31.05M	24.08M	26.01M	28.32M	25.38M	22.05M	12.31M	11.06M	7.89M	7.08M
Retained Earnings	1,428.53M	1,542.01M	1,458.33M	1,331.92M	1,288.29M	1,195.16M	1,276.77M	1,109.65M	976.09M	879.60M	764.43M	680.51M	615.03M	451.17M	415.40M	357.07M	318.17M	386.08M	339.03M	259.33M	254.41M	141.26M	57.86M	86.54M	95.68M	109.85M	92.00M	63.55M	46.82M	54.59M	17.98M
Accumulated OCI	248.29M	178.21M	50.92M	87.08M	48.80M	-52.54M	5.68M	1.58M	-2.28M	18.64M	82.63M	6.11M	-6.07M	-8.06M	-2.85M	-3.28M	0.00M	0.00M	0.00M	0.06M	0.00M	0.41M	-0.02M	-0.55M	-1.62M	-1.13M	-0.50M	-13.39M	-4.67M	-3.67M	-0.17M
Minority Interest	143.55M	145.53M	138.00M	132.01M	124.61M	111.82M	107.96M	102.66M	89.89M	77.91M	69.47M	60.71M	50.59M	43.49M	38.28M	38.79M	30.81M	30.73M	30.99M	25.82M	23.08M	5.72M	2.54M	2.41M	1.92M	1.81M	0.83M	0.89M	0.90M	0.56M	0.11M
Total Shareholders’ Equity	1,807.81M	1,863.96M	1,658.30M	1,566.71M	1,504.33M	1,289.13M	1,533.04M	1,255.86M	1,106.61M	1,033.94M	981.68M	804.17M	725.27M	551.83M	513.32M	433.26M	406.53M	471.09M	415.46M	323.72M	318.26M	172.73M	81.91M	112.00M	122.38M	134.10M	113.55M	62.47M	53.21M	58.81M	24.89M
Total Equity	1,951.37M	2,009.49M	1,796.30M	1,698.72M	1,628.95M	1,400.95M	1,641.00M	1,358.52M	1,196.50M	1,111.86M	1,051.15M	864.88M	775.87M	595.31M	551.60M	472.05M	437.33M	501.83M	446.44M	349.54M	341.33M	178.45M	84.46M	114.41M	124.30M	135.92M	114.38M	63.36M	54.11M	59.36M	25.00M
Total Liabilities & Equity	5,246.88M	5,261.61M	5,242.89M	5,086.50M	4,767.66M	4,271.41M	4,453.88M	3,988.22M	3,630.86M	3,335.73M	2,993.58M	2,654.22M	2,384.24M	1,981.58M	1,772.96M	1,507.95M	1,326.96M	1,502.78M	1,316.26M	1,035.14M	914.46M	460.68M	206.38M	270.13M	277.20M	338.81M	384.85M	268.23M	144.94M	144.49M	71.44M
Tangible Assets	5,141.64M	5,194.56M	5,320.28M	5,204.13M	4,830.00M	4,531.66M	4,196.56M	4,103.67M	3,761.08M	3,522.19M	3,269.47M	3,007.87M	2,702.97M	2,340.81M	2,083.09M	1,898.14M	1,563.82M	1,674.36M	1,539.78M	1,196.45M	1,013.22M	490.04M	283.52M	302.83M	394.71M	448.11M	458.29M	334.72M	174.85M	179.11M	117.45M
Tangible Equity	1,524.40M	1,535.30M	1,292.75M	1,208.55M	1,156.32M	1,013.42M	1,225.14M	962.79M	886.96M	854.30M	883.34M	711.99M	637.73M	492.71M	469.73M	415.65M	402.27M	448.63M	392.80M	317.47M	317.07M	166.54M	77.66M	107.92M	118.86M	123.29M	94.39M	52.58M	46.06M	54.78M	23.45M
Tangible Book Value	1,524.40M	1,535.30M	1,292.75M	1,208.55M	1,156.32M	1,013.42M	1,225.14M	962.79M	886.96M	854.30M	883.34M	711.99M	637.73M	492.71M	469.73M	415.65M	402.27M	448.63M	392.80M	317.47M	317.07M	166.54M	77.66M	107.92M	118.86M	123.29M	94.39M	52.58M	46.06M	54.78M	23.45M
Total Investments	316.20M	281.03M	296.30M	279.38M	225.18M	256.04M	242.43M	185.00M	206.56M	173.89M	166.77M	145.72M	127.51M	114.19M	123.27M	107.04M	81.82M	99.38M	110.07M	79.43M	67.21M	18.52M	9.58M	11.45M	6.78M	7.04M	3.23M	1.43M	0.37M	0.07M	0.03M
Net Debt	927.49M	668.77M	741.84M	769.30M	654.86M	572.13M	757.64M	648.48M	512.43M	496.74M	458.25M	423.45M	404.64M	309.93M	234.21M	194.47M	214.92M	297.74M	235.07M	194.80M	151.50M	102.99M	36.97M	66.05M	55.24M	65.22M	116.15M	81.96M	35.80M	35.08M	18.58M

Industry Capital

Metric	MRQ	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	1995
Working Capital	854.37M	778.10M	749.71M	677.10M	690.56M	634.89M	484.84M	577.08M	493.73M	408.23M	456.38M	471.72M	451.62M	366.27M	358.38M	294.88M	250.88M	181.65M	246.78M	132.92M	87.83M	65.96M	40.11M	55.62M	36.75M	24.93M	15.91M	37.11M	40.89M	43.21M	21.14M
Total Capital	4,334.24M	4,045.67M	4,082.98M	3,998.51M	3,827.87M	3,337.08M	3,400.84M	3,175.95M	2,877.41M	2,539.03M	2,374.56M	2,023.69M	1,810.20M	1,544.72M	1,360.79M	1,164.72M	990.56M	1,082.90M	1,044.72M	820.71M	742.12M	379.85M	216.39M	306.77M	309.02M	319.57M	417.20M	267.91M	160.83M	166.31M	109.82M
Capital Employed	4,750.98M	4,224.04M	4,575.34M	4,135.50M	4,028.86M	3,797.94M	3,390.13M	3,362.60M	3,005.89M	2,696.32M	2,532.07M	2,216.93M	2,009.70M	1,767.63M	1,640.24M	1,447.27M	1,326.45M	1,279.55M	1,253.01M	1,043.57M	774.63M	415.25M	189.95M	231.86M	472.84M	582.63M	554.75M	281.43M	144.60M	149.30M	92.89M
Invested Capital	3,691.93M	3,346.76M	3,345.63M	3,324.41M	3,069.36M	2,586.19M	2,894.86M	2,693.47M	2,359.82M	2,074.25M	1,966.79M	1,663.14M	1,504.12M	1,263.09M	1,099.12M	940.53M	812.83M	940.05M	902.01M	702.07M	645.58M	335.75M	188.23M	278.72M	273.13M	286.44M	381.95M	247.38M	151.49M	156.54M	104.19M

Industry Cash Flow Statement

Metric	TTM	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	1995
Depreciation & Amortization	187.25M	257.42M	292.43M	283.36M	268.76M	271.23M	253.58M	232.52M	202.72M	191.47M	173.04M	153.99M	138.19M	123.92M	114.93M	116.33M	115.07M	105.18M	86.66M	70.69M	62.16M	31.39M	17.82M	32.73M	34.77M	34.01M	32.79M	20.22M	55.14M	46.10M	43.80M
Deferred Income Tax	0.00M	0.00M	0.00M	-1.02M	-3.66M	-2.21M	-1.04M	0.11M	-0.62M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.15M	0.12M	0.31M	0.33M	-0.28M
Stock-Based Compensation	0.15M	0.19M	1.18M	2.52M	1.71M	3.43M	2.17M	2.26M	2.89M	2.19M	1.83M	1.64M	0.75M	0.41M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-38.01M	-24.58M	-31.95M	-153.28M	-80.53M	24.43M	-29.12M	-60.25M	-46.45M	-10.55M	-27.88M	-24.37M	-13.50M	-40.82M	-51.54M	-13.57M	16.93M	-18.36M	-10.46M	-9.20M	-5.97M	-6.39M	-0.40M	1.16M	2.52M	-5.63M	-5.04M	-7.73M	-8.06M	-8.55M	-13.83M
Accounts Receivable	-2.08M	0.41M	-57.85M	-100.18M	-28.42M	13.02M	-11.82M	-25.35M	-42.51M	-33.31M	-23.19M	-15.79M	-8.11M	-0.97M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Inventory	-6.88M	-16.95M	-20.79M	-131.25M	-101.48M	-5.88M	-18.28M	-44.08M	-45.18M	-24.06M	-23.42M	-18.00M	-13.38M	-13.66M	-39.76M	-27.00M	15.74M	-9.05M	-11.61M	-10.85M	-8.59M	-6.60M	-3.49M	0.80M	0.09M	-3.82M	-2.69M	-4.58M	-11.29M	-5.84M	-9.88M
Accounts Payable	11.65M	5.36M	28.08M	79.53M	44.58M	9.21M	12.11M	23.21M	43.03M	34.10M	9.50M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-3.33M	-3.66M	2.26M	-7.82M	-0.22M	10.81M	-6.43M	-28.33M	-7.12M	4.09M	-5.22M	-3.11M	-5.78M	-22.52M	-10.06M	0.63M	-1.38M	-6.83M	4.65M	2.18M	3.57M	1.13M	2.53M	0.64M	-0.04M	-1.09M	-1.43M	-3.50M	3.82M	-1.01M	-10.51M
Other Non-Cash Items	71.65M	29.56M	3.71M	4.80M	-7.22M	22.17M	-6.04M	-5.94M	1.22M	-2.94M	-20.59M	-17.39M	-16.42M	-15.94M	-8.47M	6.48M	-9.99M	1.38M	-6.56M	-11.75M	-9.87M	1.56M	2.96M	10.53M	3.78M	2.65M	0.70M	1.31M	1.63M	3.04M	2.18M
Net Cash from Operating Activities	533.70M	575.03M	587.86M	416.21M	458.09M	472.82M	492.93M	450.24M	406.17M	451.00M	383.87M	317.73M	329.03M	206.22M	187.86M	203.25M	124.63M	131.54M	148.02M	123.12M	105.96M	57.05M	38.34M	50.53M	54.04M	39.47M	44.44M	33.98M	100.36M	117.52M	95.35M
Capital Expenditures (PPE)	-274.59M	-287.83M	-327.36M	-315.95M	-265.97M	-251.44M	-311.57M	-294.84M	-285.59M	-263.79M	-254.49M	-229.84M	-210.67M	-173.04M	-145.81M	-112.18M	-109.18M	-148.13M	-135.16M	-112.17M	-96.97M	-56.00M	-37.83M	-33.33M	-38.14M	-46.38M	-53.96M	-60.79M	-158.85M	-66.04M	-69.69M
Acquisitions (Net)	1.22M	-3.23M	-2.95M	-1.81M	-2.65M	-0.99M	-1.02M	-12.56M	-8.45M	-10.84M	-8.27M	-6.42M	-4.67M	-2.47M	-0.01M	0.28M	0.22M	-0.07M	-1.66M	-2.28M	-0.68M	1.04M	-0.01M	0.08M	0.04M	0.01M	0.01M	0.01M	0.00M	0.00M	0.00M
Purchases of Investments	-25.00M	-80.34M	-36.32M	-60.71M	-41.24M	-34.62M	-28.37M	-25.92M	-24.47M	-14.47M	-17.59M	-11.11M	-15.24M	-16.75M	-12.55M	-15.05M	-9.38M	-17.50M	-12.13M	-8.04M	-7.11M	-4.35M	-2.55M	-4.01M	-2.54M	-5.70M	-1.87M	-0.70M	-2.70M	-1.09M	-0.68M
Sales / Maturities of Investments	31.67M	75.55M	61.49M	57.23M	36.22M	49.88M	40.26M	30.15M	22.81M	21.54M	22.27M	9.28M	9.99M	9.61M	10.45M	11.49M	11.99M	11.04M	11.08M	6.41M	5.97M	3.45M	1.83M	3.23M	2.69M	3.19M	3.28M	0.66M	1.44M	3.02M	4.67M
Other Investing Activities	2.88M	-3.00M	3.87M	8.59M	14.48M	3.63M	6.59M	0.01M	-0.03M	0.36M	5.80M	1.18M	1.00M	0.96M	0.07M	-1.68M	1.97M	2.91M	4.46M	2.67M	1.06M	0.26M	-0.22M	-0.31M	0.71M	0.29M	1.86M	0.12M	0.79M	-13.62M	-4.71M
Net Cash from Investing Activities	-274.29M	-302.63M	-342.54M	-313.37M	-271.90M	-262.43M	-284.26M	-376.83M	-324.64M	-294.27M	-281.45M	-246.05M	-243.26M	-178.72M	-155.83M	-119.83M	-105.48M	-140.28M	-127.93M	-122.57M	-107.63M	-50.17M	-34.50M	-35.08M	-34.63M	-36.04M	-45.61M	-57.27M	-162.28M	-124.44M	-69.19M
Net Debt Issuance	-30.38M	-28.26M	15.77M	21.79M	3.98M	75.52M	17.23M	54.38M	41.12M	8.65M	14.69M	30.27M	27.06M	20.86M	18.43M	-29.20M	14.91M	26.25M	19.00M	17.82M	1.44M	5.49M	1.11M	-7.11M	-2.38M	6.09M	10.14M	7.91M	6.83M	46.60M	20.11M
Long-Term Debt Issuance	-8.42M	-18.95M	26.52M	27.55M	21.50M	63.53M	42.12M	72.12M	52.43M	13.41M	13.06M	37.22M	30.31M	40.16M	25.29M	1.07M	26.13M	9.14M	16.16M	14.85M	2.98M	7.83M	1.94M	-7.64M	1.24M	5.25M	13.99M	7.91M	5.93M	45.95M	20.11M
Short-Term Debt Issuance	-16.96M	-13.69M	-6.54M	0.06M	-9.49M	5.44M	1.76M	-3.68M	-2.09M	-5.47M	4.52M	-1.12M	-2.05M	1.09M	1.49M	-15.95M	-0.05M	8.68M	-0.46M	0.28M	1.45M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-22.96M	-19.06M	-3.70M	-5.96M	-3.77M	-4.59M	-12.74M	-12.08M	-12.46M	-5.05M	-0.65M	-0.46M	-0.09M	-0.25M	0.16M	0.70M	0.35M	0.14M	0.07M	0.28M	0.28M	0.34M	0.10M	0.02M	0.22M	0.00M	0.03M	0.00M	2.78M	4.46M	8.96M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.14M	0.04M	0.22M	0.01M	0.25M	0.03M	0.36M	0.27M	0.79M	0.56M	2.84M	1.35M	1.07M	1.19M	1.71M	1.63M	2.30M	1.28M	0.49M	0.21M	0.68M	0.36M	1.21M	0.76M	5.42M	4.70M	9.69M
Common Stock Repurchased	-22.92M	-25.44M	-4.98M	-7.53M	-6.00M	-9.65M	-13.85M	-14.66M	-13.28M	-5.65M	-2.09M	-0.76M	-0.91M	-0.31M	-0.30M	-0.02M	-0.09M	-0.34M	-1.09M	-0.19M	-0.39M	-0.06M	0.00M	0.00M	0.00M	-0.27M	-0.16M	-0.20M	-1.86M	0.00M	0.00M
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
Net Dividends Paid	-40.21M	-62.33M	-56.67M	-48.48M	-50.71M	-46.88M	-65.75M	-62.99M	-49.27M	-47.11M	-33.72M	-30.06M	-26.41M	-20.69M	-18.65M	-11.22M	-11.99M	-15.18M	-14.49M	-11.65M	-12.44M	-8.64M	-5.05M	-5.04M	-6.16M	-5.34M	-4.98M	-4.35M	-12.95M	-7.60M	-14.09M
Common Dividends Paid	-37.69M	-62.88M	-55.18M	-48.84M	-51.74M	-46.79M	-60.51M	-52.92M	-45.00M	-45.03M	-29.97M	-26.46M	-23.09M	-15.34M	-14.88M	-9.21M	-11.54M	-14.63M	-14.72M	-11.52M	-12.08M	-7.37M	-5.05M	-4.91M	-6.17M	-5.34M	-4.98M	-4.35M	-10.93M	-7.60M	-14.27M
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
Other Financing Activities	-31.78M	-37.76M	-30.48M	-35.71M	-28.90M	-19.79M	-10.44M	-16.73M	-14.18M	-7.60M	-0.13M	-10.11M	-6.93M	-7.44M	-4.42M	-3.84M	-1.61M	-2.58M	-1.56M	-0.29M	0.33M	1.49M	0.07M	-0.03M	0.99M	1.20M	0.37M	6.61M	-0.02M	0.69M	1.48M
Net Cash from Financing Activities	-218.33M	-204.24M	-166.39M	-88.44M	-89.34M	2.39M	-96.14M	-72.81M	-72.45M	-96.81M	-54.46M	-47.18M	-26.94M	-26.35M	-7.48M	-41.26M	18.05M	-1.52M	2.46M	12.63M	-9.84M	-0.38M	-3.08M	-15.36M	-4.35M	-2.32M	15.94M	14.76M	-1.80M	50.59M	22.15M
Effect of FX on Cash	9.44M	12.78M	2.36M	3.23M	7.87M	-9.38M	0.01M	-1.16M	-3.95M	-6.86M	4.39M	6.51M	4.14M	-1.23M	-3.62M	0.97M	-5.78M	-2.82M	1.91M	2.29M	0.02M	0.02M	0.00M	0.00M	0.00M	-0.07M	-0.02M	-0.05M	0.15M	3.09M	-7.14M
Net Change in Cash	54.89M	58.17M	32.73M	-36.80M	11.55M	176.55M	25.96M	3.82M	40.99M	15.34M	28.43M	34.46M	39.31M	3.47M	17.76M	39.91M	11.95M	5.26M	19.86M	12.23M	1.76M	5.63M	2.85M	-3.76M	7.32M	0.91M	4.28M	5.03M	4.20M	12.35M	1.18M
Cash at Beginning of Period	489.08M	646.07M	607.30M	669.90M	714.92M	503.54M	469.23M	481.34M	437.28M	418.09M	381.25M	294.76M	274.02M	250.76M	241.43M	194.65M	144.40M	153.25M	116.73M	94.76M	103.23M	31.91M	23.06M	32.32M	34.10M	34.21M	21.59M	9.71M	65.40M	52.07M	35.50M
Cash at End of Period	647.73M	657.00M	660.64M	612.49M	652.07M	720.71M	501.97M	465.64M	483.48M	430.39M	409.42M	370.37M	346.76M	298.05M	280.28M	236.86M	194.00M	149.17M	152.35M	116.42M	95.05M	38.41M	26.08M	28.38M	40.86M	34.19M	36.37M	19.92M	80.18M	63.37M	51.47M
Operating Cash Flow	533.73M	575.03M	587.79M	416.21M	458.59M	472.82M	492.93M	450.24M	406.17M	451.00M	383.89M	317.71M	329.03M	206.22M	187.86M	203.25M	124.63M	131.54M	148.02M	123.15M	105.96M	57.03M	38.34M	50.53M	54.04M	39.49M	44.44M	33.98M	100.36M	117.52M	95.35M
Capital Expenditure	-275.73M	-313.64M	-333.79M	-316.00M	-265.56M	-251.44M	-311.57M	-294.85M	-285.69M	-264.04M	-253.40M	-229.84M	-210.68M	-173.04M	-145.75M	-112.18M	-109.18M	-148.13M	-135.15M	-112.16M	-96.94M	-55.98M	-37.83M	-33.33M	-38.15M	-46.38M	-53.96M	-60.79M	-158.85M	-66.04M	-69.69M
Free Cash Flow	304.41M	261.54M	203.20M	68.69M	151.73M	174.59M	140.14M	125.63M	123.04M	154.51M	98.46M	83.42M	93.46M	38.82M	47.17M	90.24M	14.49M	11.87M	24.63M	6.28M	13.87M	10.86M	10.05M	15.66M	8.39M	3.05M	-9.73M	-13.50M	-3.19M	12.49M	5.40M

Industry Free Cash Flow

Metric	TTM	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	1995
EBITDA	689.30M	728.48M	714.04M	649.45M	610.45M	458.81M	614.93M	595.16M	581.89M	547.76M	464.40M	454.08M	416.87M	341.21M	322.23M	305.75M	170.57M	190.26M	217.29M	164.14M	140.33M	84.52M	51.81M	71.33M	59.95M	85.57M	70.94M	49.47M	43.11M	40.97M	33.38M
(-) Tax Adjustment	170.77M	190.08M	184.90M	182.52M	135.03M	138.79M	158.22M	152.86M	162.47M	140.53M	147.22M	118.91M	114.88M	85.17M	70.76M	75.37M	195.20M	92.35M	80.78M	61.87M	59.70M	27.71M	23.95M	52.11M	20.10M	26.79M	23.25M	16.03M	14.32M	13.29M	11.49M
(-) Change In Working Capital	-38.01M	-24.58M	-31.95M	-153.28M	-80.53M	24.43M	-29.12M	-60.25M	-46.45M	-10.55M	-27.88M	-24.37M	-13.50M	-40.82M	-51.54M	-13.57M	16.93M	-18.36M	-10.46M	-9.20M	-5.97M	-6.39M	-0.40M	1.16M	2.52M	-5.63M	-5.04M	-7.73M	-8.06M	-8.55M	-13.83M
(-) Capital Expenditure	275.73M	313.64M	333.79M	316.00M	265.56M	251.44M	311.57M	294.85M	285.69M	264.04M	253.40M	229.84M	210.68M	173.04M	145.75M	112.18M	109.18M	148.13M	135.15M	112.16M	96.94M	55.98M	37.83M	33.33M	38.15M	46.38M	53.96M	60.79M	158.85M	66.04M	69.69M
Unlevered Free Cash Flow	280.82M	249.35M	227.30M	304.20M	290.39M	44.14M	174.26M	207.70M	180.18M	153.74M	91.67M	129.69M	104.82M	123.83M	157.26M	131.77M	-150.75M	-31.86M	11.82M	-0.69M	-10.33M	7.23M	-9.58M	-15.26M	-0.82M	18.02M	-1.23M	-19.62M	-122.00M	-29.82M	-33.96M
(-) Net Interest Income After Taxes	-46.26M	-41.59M	-35.69M	-27.44M	-27.46M	-26.78M	-27.56M	-23.81M	-21.74M	-20.06M	-15.71M	-16.20M	-14.03M	-14.49M	-15.58M	-15.20M	2.62M	-9.42M	-7.36M	-4.27M	-3.16M	-2.58M	-0.77M	-0.50M	-1.19M	-1.04M	-0.78M	-0.62M	-0.64M	-0.56M	-0.30M
Net Debt Issuance	-30.38M	-28.26M	15.77M	21.79M	3.98M	75.52M	17.23M	54.38M	41.12M	8.65M	14.69M	30.27M	27.06M	20.86M	18.43M	-29.20M	14.91M	26.25M	19.00M	17.82M	1.44M	5.49M	1.11M	-7.11M	-2.38M	6.09M	10.14M	7.91M	6.83M	46.60M	20.11M
Levered Free Cash Flow	296.70M	262.67M	278.75M	353.43M	321.83M	146.44M	219.05M	285.90M	243.04M	182.45M	122.07M	176.17M	145.91M	159.18M	191.27M	117.78M	-138.46M	3.80M	38.18M	21.40M	-5.74M	15.31M	-7.70M	-21.87M	-2.00M	25.15M	9.68M	-11.09M	-114.53M	17.35M	-13.55M