Beverages - Non-Alcoholic

Category: Industry Averages Base Ticker: KDP

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	14.89	9.90	10.19	8.79	10.47	8.17	8.78	7.96	7.60	6.21	6.36	5.47	4.43	3.58	3.51	4.81	3.51	2.93	3.95	5.44	6.06	7.93	8.93	7.84	9.68	7.86	8.23	11.16	13.09	6.31	7.46
Market Capitalization	2,695.99M	2,088.27M	2,553.62M	1,682.97M	1,668.32M	1,233.95M	1,032.15M	1,264.59M	1,322.51M	1,083.71M	1,095.74M	985.40M	748.88M	771.26M	883.13M	1,047.42M	860.74M	534.40M	1,111.81M	1,075.39M	955.10M	1,897.24M	3,140.60M	2,512.82M	3,241.19M	3,086.35M	3,363.46M	3,894.25M	4,373.68M	2,721.17M	10,441.77M
(-) Cash & Equivalents	222.85M	215.93M	171.54M	121.44M	108.23M	79.80M	58.13M	69.66M	56.24M	71.43M	70.16M	48.75M	52.43M	63.74M	111.20M	104.03M	101.44M	82.37M	53.88M	57.92M	46.42M	53.54M	52.50M	34.95M	128.51M	114.99M	56.16M	30.59M	32.33M	28.27M	80.51M
(+) Total Debt	243.10M	149.45M	157.61M	122.92M	106.71M	103.68M	156.17M	214.30M	199.07M	235.99M	240.41M	226.07M	175.70M	161.68M	208.07M	179.37M	121.00M	134.07M	187.12M	245.29M	354.19M	914.39M	666.97M	291.86M	888.16M	882.82M	892.10M	1,447.31M	1,169.71M	1,223.24M	1,348.16M
Enterprise Value	2,809.30M	1,901.21M	2,596.50M	1,690.13M	1,738.46M	1,343.90M	1,205.30M	1,296.67M	1,593.31M	1,410.97M	1,299.76M	1,339.89M	1,200.94M	890.32M	978.39M	1,116.55M	905.29M	934.55M	1,341.14M	1,220.37M	1,433.63M	3,662.78M	5,224.71M	2,809.74M	7,376.29M	6,443.16M	6,943.63M	7,082.28M	7,363.29M	3,514.36M	12,710.02M

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	1,454.060M	1,204.103M	1,021.153M	791.843M	743.291M	609.445M	678.501M	797.657M	786.679M	859.456M	968.477M	812.564M	793.203M	793.090M	959.906M	794.549M	746.025M	744.922M	795.229M	1,098.484M	1,116.119M	1,246.325M	4,122.353M	648.842M	4,496.037M	5,007.003M	5,132.775M	4,224.783M	4,108.536M	2,452.443M	4,566.263M
Cost of Revenue	875.404M	712.587M	622.331M	447.720M	400.016M	353.046M	391.650M	432.771M	425.976M	430.480M	616.241M	500.737M	595.893M	602.482M	723.491M	578.633M	494.995M	564.258M	599.392M	646.388M	645.216M	812.301M	2,941.109M	2,040.072M	1,693.337M	1,696.319M	1,714.796M	1,528.099M	1,737.737M	1,375.110M	1,811.959M
Gross Profit	578.656M	491.516M	398.822M	344.123M	343.276M	256.400M	286.851M	364.886M	360.703M	428.976M	352.236M	311.827M	197.310M	190.608M	236.415M	215.917M	251.029M	180.664M	195.837M	452.096M	470.903M	434.024M	1,181.244M	-1,391.230M	2,802.700M	3,310.684M	3,417.980M	2,696.684M	2,370.799M	1,077.332M	2,754.304M
Gross Margin	39.80%	40.82%	39.06%	43.46%	46.18%	42.07%	42.28%	45.74%	45.85%	49.91%	36.37%	38.38%	24.88%	24.03%	24.63%	27.17%	33.65%	24.25%	24.63%	41.16%	42.19%	34.82%	28.65%	-214.42%	62.34%	66.12%	66.59%	63.83%	57.70%	43.93%	60.32%
R&D Expenses	0.083M	0.248M	0.172M	0.417M	0.448M	0.170M	0.172M	0.180M	0.143M	0.110M	0.136M	0.025M	0.022M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
SG&A Expenses	301.814M	287.989M	277.354M	218.879M	214.176M	144.213M	165.093M	219.663M	214.371M	242.653M	240.223M	196.043M	198.210M	184.355M	229.500M	200.830M	181.829M	203.566M	249.488M	248.368M	291.735M	345.150M	1,287.399M	153.031M	1,507.533M	1,580.004M	1,591.129M	1,265.306M	1,211.085M	717.659M	1,685.201M
Operating Expenses	301.897M	288.237M	277.526M	219.296M	214.624M	144.384M	165.265M	219.843M	214.514M	242.764M	240.359M	196.068M	198.232M	184.355M	229.500M	200.830M	181.829M	203.566M	249.488M	248.368M	291.735M	345.150M	1,287.399M	153.031M	1,507.533M	1,580.004M	1,591.129M	1,265.306M	1,211.085M	717.659M	1,685.201M
Operating Income	276.759M	203.279M	121.296M	124.827M	128.651M	112.016M	121.586M	145.043M	146.189M	186.212M	111.877M	115.759M	-0.922M	6.253M	6.916M	15.087M	69.201M	-22.902M	-53.651M	203.728M	179.168M	88.874M	-106.155M	-1,544.261M	1,295.167M	1,730.681M	1,826.850M	1,431.379M	1,159.715M	359.673M	1,069.103M
Operating Margin	19.03%	16.88%	11.88%	15.76%	17.31%	18.38%	17.92%	18.18%	18.58%	21.67%	11.55%	14.25%	-0.12%	0.79%	0.72%	1.90%	9.28%	-3.07%	-6.75%	18.55%	16.05%	7.13%	-2.58%	-238.00%	28.81%	34.57%	35.59%	33.88%	28.23%	14.67%	23.41%
Interest Income	3.428M	4.577M	4.716M	2.000M	1.706M	1.092M	1.089M	1.431M	1.213M	0.973M	0.962M	1.796M	1.184M	1.251M	1.146M	1.376M	1.809M	4.164M	4.287M	0.583M	0.358M	0.075M	0.031M	0.000M	0.000M	0.057M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	6.125M	4.993M	4.207M	3.354M	3.663M	4.002M	5.918M	7.376M	6.149M	9.908M	8.456M	6.329M	8.868M	7.217M	15.556M	10.454M	8.485M	11.164M	12.662M	1.692M	6.812M	11.269M	22.516M	0.216M	0.123M	4.422M	0.245M	0.000M	0.261M	0.430M	0.159M
Net Interest Income	-2.697M	-0.416M	0.509M	-1.354M	-1.957M	-2.910M	-4.829M	-5.945M	-4.936M	-8.936M	-7.494M	-4.533M	-7.685M	-5.966M	-14.410M	-9.078M	-6.676M	-6.999M	-8.375M	-1.109M	-6.453M	-11.194M	-22.486M	-0.216M	-0.123M	-4.366M	-0.245M	0.000M	-0.261M	-0.430M	-0.159M
Other Income / Expense	-119.176M	-58.828M	-9.043M	-41.999M	-51.499M	-53.620M	-72.149M	-78.348M	-81.286M	-124.280M	-48.658M	-73.698M	59.058M	46.036M	61.616M	51.324M	-11.421M	58.994M	139.720M	-143.712M	-54.346M	120.918M	370.024M	1,628.721M	-1,227.231M	-1,591.163M	-1,778.457M	-1,366.639M	-1,084.024M	-298.571M	-624.021M
Pre-Tax Income	154.886M	144.035M	112.762M	81.474M	75.196M	55.486M	44.608M	60.749M	59.967M	52.996M	55.725M	37.528M	50.452M	46.323M	54.122M	57.333M	51.104M	29.093M	77.695M	58.907M	118.368M	198.598M	241.383M	84.244M	67.813M	135.152M	48.148M	64.739M	75.430M	60.672M	444.923M
Pre-Tax Margin	10.65%	11.96%	11.04%	10.29%	10.12%	9.10%	6.57%	7.62%	7.62%	6.17%	5.75%	4.62%	6.36%	5.84%	5.64%	7.22%	6.85%	3.91%	9.77%	5.36%	10.61%	15.93%	5.86%	12.98%	1.51%	2.70%	0.94%	1.53%	1.84%	2.47%	9.74%
Income Tax Expense	40.594M	37.128M	30.109M	20.866M	17.995M	12.501M	11.106M	14.913M	17.221M	17.442M	15.794M	9.138M	10.625M	10.226M	13.607M	14.523M	12.195M	6.151M	26.136M	17.600M	40.396M	57.637M	75.069M	32.733M	24.245M	41.259M	16.084M	12.626M	7.467M	23.922M	144.244M
Tax Rate	26.21%	25.78%	26.70%	25.61%	23.93%	22.53%	24.90%	24.55%	28.72%	32.91%	28.34%	24.35%	21.06%	22.08%	25.14%	25.33%	23.86%	21.14%	33.64%	29.88%	34.13%	29.02%	31.10%	35.00%	35.00%	30.53%	33.41%	19.50%	9.90%	35.00%	32.42%
Net Income	114.292M	106.907M	82.653M	60.608M	57.200M	42.985M	33.502M	45.836M	42.746M	35.554M	39.931M	28.390M	39.827M	36.097M	40.514M	42.810M	38.910M	22.943M	51.559M	41.307M	77.973M	140.961M	166.313M	51.511M	43.568M	93.892M	32.064M	52.113M	67.963M	36.750M	300.679M
Net Margin	7.86%	8.88%	8.09%	7.65%	7.70%	7.05%	4.94%	5.75%	5.43%	4.14%	4.12%	3.49%	5.02%	4.55%	4.22%	5.39%	5.22%	3.08%	6.48%	3.76%	6.99%	11.31%	4.03%	7.94%	0.97%	1.88%	0.62%	1.23%	1.65%	1.50%	6.58%
EBIT	276.759M	203.279M	121.296M	124.827M	128.651M	112.016M	121.586M	145.043M	146.189M	186.212M	111.877M	115.759M	-0.922M	6.253M	6.916M	15.087M	69.201M	-22.902M	-53.651M	203.728M	179.168M	88.874M	-106.155M	-1,544.261M	1,295.167M	1,730.681M	1,826.850M	1,431.379M	1,159.715M	359.673M	1,069.103M
Depreciation & Amortization	45.306M	44.431M	40.415M	34.834M	32.609M	25.145M	33.183M	40.269M	42.883M	40.883M	38.564M	32.244M	33.570M	31.274M	35.453M	29.838M	26.142M	31.967M	29.228M	33.905M	35.387M	36.038M	191.166M	35.691M	209.505M	201.625M	218.903M	181.973M	186.653M	131.161M	163.665M
EBITDA	322.065M	247.710M	161.711M	159.661M	161.260M	137.161M	154.769M	185.312M	189.073M	227.095M	150.441M	148.004M	32.648M	37.527M	42.369M	44.925M	95.343M	9.065M	-24.422M	237.633M	214.555M	124.912M	85.010M	-1,508.570M	1,504.672M	1,932.305M	2,045.754M	1,613.352M	1,346.368M	490.834M	1,232.768M
EBITDA Margin	22.15%	20.57%	15.84%	20.16%	21.70%	22.51%	22.81%	23.23%	24.03%	26.42%	15.53%	18.21%	4.12%	4.73%	4.41%	5.65%	12.78%	1.22%	-3.07%	21.63%	19.22%	10.02%	2.06%	-232.50%	33.47%	38.59%	39.86%	38.19%	32.77%	20.01%	27.00%
NOPAT	204.223M	150.880M	88.908M	92.858M	97.863M	86.780M	91.315M	109.438M	104.206M	124.927M	80.167M	87.572M	-0.728M	4.872M	5.177M	11.265M	52.688M	-18.060M	-35.603M	142.859M	118.023M	63.081M	-73.141M	-1,003.770M	841.859M	1,202.334M	1,216.570M	1,152.216M	1,044.913M	233.787M	722.500M
NOPAT Margin	14.04%	12.53%	8.71%	11.73%	13.17%	14.24%	13.46%	13.72%	13.25%	14.54%	8.28%	10.78%	-0.09%	0.61%	0.54%	1.42%	7.06%	-2.42%	-4.48%	13.01%	10.57%	5.06%	-1.77%	-154.70%	18.72%	24.01%	23.70%	27.27%	25.43%	9.53%	15.82%
Owner's Earnings	159.597M	151.338M	123.068M	95.442M	89.810M	68.130M	66.685M	86.105M	85.629M	76.437M	78.495M	60.634M	73.396M	67.372M	75.968M	72.648M	65.052M	54.910M	80.788M	75.212M	113.359M	176.999M	357.479M	87.202M	253.073M	295.517M	250.967M	234.086M	254.616M	167.910M	464.344M
Owner's Earnings Margin	10.98%	12.57%	12.05%	12.05%	12.08%	11.18%	9.83%	10.79%	10.88%	8.89%	8.10%	7.46%	9.25%	8.49%	7.91%	9.14%	8.72%	7.37%	10.16%	6.85%	10.16%	14.20%	8.67%	13.44%	5.63%	5.90%	4.89%	5.54%	6.20%	6.85%	10.17%
EPS	0.20	0.19	0.12	0.11	0.09	0.08	0.06	0.06	0.07	0.06	0.06	0.04	0.08	0.07	0.08	0.09	0.07	0.05	0.09	0.07	0.18	0.23	0.29	0.12	0.08	0.17	0.06	0.09	0.11	0.07	0.43
EPS (Diluted)	0.20	0.19	0.12	0.11	0.09	0.08	0.06	0.06	0.07	0.06	0.06	0.04	0.08	0.07	0.08	0.09	0.07	0.05	0.09	0.07	0.18	0.23	0.29	0.12	0.08	0.17	0.06	0.09	0.11	0.07	0.43
Shares (Diluted)	565,721,819	550,417,256	706,881,737	553,584,812	620,087,029	562,290,988	570,771,062	758,763,928	602,261,094	609,220,469	669,129,289	646,613,779	506,729,205	488,152,604	516,384,829	496,841,011	522,356,905	484,561,731	585,508,809	588,454,827	438,625,591	604,030,082	571,821,132	412,200,582	541,584,312	537,645,513	582,292,283	570,343,787	606,483,292	523,845,910	704,889,368

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	217.53M	215.93M	171.54M	121.44M	108.23M	79.80M	58.13M	69.66M	56.24M	71.43M	70.16M	47.68M	52.43M	63.74M	111.20M	104.03M	101.44M	82.37M	53.88M	57.92M	46.42M	53.54M	52.50M	34.95M	128.51M	114.99M	56.16M	30.59M	32.33M	28.27M	80.51M
Short-Term Investments	25.20M	74.21M	37.23M	24.04M	25.85M	24.36M	8.52M	15.62M	3.51M	21.76M	19.05M	19.12M	4.37M	2.87M	45.52M	1.41M	11.28M	14.90M	21.74M	5.01M	2.40M	11.76M	2.58M	1.96M	3.93M	1.51M	1.15M	4.49M	0.00M	0.14M	0.16M
Cash & Short-Term Investments	242.73M	290.14M	208.76M	145.48M	134.08M	104.16M	66.65M	85.28M	59.75M	93.19M	89.20M	66.80M	56.80M	66.61M	156.72M	105.44M	112.72M	97.27M	75.62M	62.93M	48.82M	65.30M	55.09M	36.91M	132.44M	116.50M	57.31M	35.08M	32.33M	28.41M	80.68M
Net Receivables	158.18M	92.20M	74.94M	63.45M	57.25M	45.72M	46.62M	63.85M	66.48M	90.27M	95.65M	80.83M	75.62M	66.21M	80.95M	73.59M	46.84M	63.34M	78.51M	75.82M	75.30M	79.03M	416.96M	65.87M	475.43M	444.00M	457.79M	421.02M	369.09M	210.91M	424.27M
Inventory	108.24M	116.35M	106.75M	89.54M	80.05M	60.84M	65.09M	69.04M	65.71M	67.54M	78.01M	70.98M	80.55M	76.66M	91.13M	87.63M	78.60M	90.50M	88.44M	80.05M	70.16M	86.04M	184.68M	40.97M	267.44M	223.17M	244.71M	183.77M	187.63M	115.38M	255.09M
Other Current Assets	25.84M	18.81M	19.45M	21.83M	15.80M	15.08M	22.47M	21.44M	18.43M	28.26M	15.87M	27.03M	16.74M	20.42M	16.43M	4.66M	12.91M	15.98M	15.35M	9.97M	6.98M	5.22M	9.41M	3.94M	23.59M	41.34M	81.78M	57.75M	103.14M	79.95M	311.80M
Total Current Assets	535.00M	517.50M	409.90M	320.30M	287.19M	225.79M	200.83M	239.61M	210.37M	279.26M	278.74M	245.64M	229.72M	229.90M	345.22M	271.32M	251.07M	267.09M	257.92M	228.77M	201.26M	235.60M	666.13M	147.69M	898.91M	825.01M	841.58M	697.63M	692.19M	434.64M	1,071.83M
Property, Plant & Equipment	475.77M	424.54M	334.10M	282.67M	267.42M	239.35M	267.09M	270.50M	330.01M	309.73M	363.25M	340.21M	303.52M	278.40M	312.43M	284.71M	272.03M	207.52M	249.39M	275.93M	226.26M	322.43M	1,369.25M	208.81M	1,168.66M	1,104.88M	1,204.05M	1,058.68M	1,122.28M	837.51M	1,159.73M
Goodwill	44.34M	32.99M	33.11M	23.87M	32.46M	24.19M	33.30M	43.62M	38.97M	46.88M	47.16M	36.35M	39.48M	36.10M	44.15M	34.74M	13.55M	18.88M	41.42M	48.77M	20.36M	0.04M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	161.92M	61.62M	54.82M	38.83M	39.93M	42.39M	47.47M	75.83M	77.48M	93.28M	116.34M	76.01M	84.49M	79.88M	99.82M	78.27M	38.04M	49.22M	113.93M	121.46M	168.21M	399.01M	995.62M	200.85M	146.06M	507.48M	545.80M	203.59M	252.49M	231.16M	1,374.14M
Long-Term Investments	50.15M	24.02M	28.81M	15.25M	26.28M	10.77M	15.09M	24.72M	24.89M	30.63M	29.36M	21.37M	18.50M	5.70M	11.55M	11.96M	16.38M	16.37M	16.47M	4.52M	3.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	2.66M	3.38M	3.64M	2.95M	4.87M	2.51M	2.39M	6.51M	3.60M	3.31M	4.27M	1.06M	1.02M	2.56M	3.06M	3.95M	2.60M	3.66M	3.74M	0.63M	1.72M	0.44M	0.47M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Non-Current Assets	29.17M	42.85M	38.54M	21.26M	11.47M	14.13M	15.52M	11.84M	13.51M	20.72M	12.78M	12.83M	15.76M	13.59M	26.96M	26.11M	30.65M	20.92M	14.83M	31.77M	18.70M	36.19M	59.30M	72.83M	982.19M	49.35M	45.62M	39.66M	39.07M	33.70M	500.49M
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	764.01M	589.40M	493.02M	384.83M	382.44M	333.34M	380.86M	433.03M	488.47M	504.55M	573.16M	487.82M	462.77M	416.22M	497.97M	439.74M	373.25M	316.58M	439.78M	483.08M	438.78M	758.11M	2,424.64M	482.49M	2,296.90M	1,661.71M	1,795.46M	1,301.93M	1,413.84M	1,102.37M	3,034.36M
Total Assets	1,299.01M	1,106.90M	902.92M	705.13M	669.62M	559.13M	581.69M	672.64M	698.83M	783.81M	851.90M	733.47M	692.49M	646.11M	843.20M	711.06M	624.32M	583.66M	697.70M	711.85M	640.04M	993.71M	3,090.77M	630.18M	3,195.81M	2,486.72M	2,637.05M	1,999.56M	2,106.03M	1,537.02M	4,106.19M
Accounts Payable	105.70M	89.61M	84.64M	62.64M	54.89M	46.36M	49.35M	65.29M	67.31M	68.73M	75.55M	73.17M	68.25M	65.86M	76.67M	68.23M	50.13M	63.63M	64.28M	65.56M	55.67M	73.49M	201.49M	54.65M	342.47M	337.55M	319.54M	246.57M	225.62M	108.53M	350.95M
Short-Term Debt	43.97M	46.96M	29.02M	56.91M	31.74M	32.43M	39.87M	38.27M	43.19M	54.86M	61.26M	45.35M	45.39M	31.28M	62.83M	33.45M	20.13M	43.36M	41.45M	63.12M	81.59M	100.95M	141.78M	15.97M	139.96M	61.73M	64.88M	339.39M	16.11M	10.42M	153.27M
Tax Payables	3.41M	6.24M	4.97M	4.06M	6.57M	5.50M	4.53M	4.39M	3.74M	3.50M	3.34M	2.80M	2.88M	2.78M	6.07M	4.42M	1.54M	1.72M	6.66M	1.19M	4.28M	1.73M	123.01M	0.56M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.36M
Deferred Revenue	0.00M	0.00M	0.04M	3.79M	9.76M	7.71M	8.21M	5.76M	11.99M	8.06M	8.26M	2.17M	2.58M	3.97M	4.97M	1.08M	0.66M	1.10M	1.01M	1.53M	1.04M	2.76M	14.16M	1.47M	4.91M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	32.97M	44.06M	57.93M	44.91M	25.84M	27.97M	40.59M	49.88M	65.22M	25.06M	40.78M	39.53M	47.35M	22.87M	36.63M	25.82M	14.22M	16.12M	19.29M	52.49M	24.24M	20.88M	23.64M	10.26M	34.64M	19.92M	30.43M	37.94M	188.40M	112.36M	377.97M
Total Current Liabilities	186.05M	186.87M	176.59M	172.31M	128.80M	119.97M	142.54M	163.58M	191.45M	160.21M	189.19M	163.02M	166.45M	126.76M	187.17M	133.01M	86.68M	125.93M	132.69M	183.89M	166.82M	199.81M	504.08M	82.90M	521.97M	419.19M	414.86M	623.89M	430.13M	231.32M	882.56M
Long-Term Debt	191.35M	71.75M	79.77M	47.08M	50.36M	56.41M	84.30M	79.15M	102.75M	139.63M	175.38M	130.07M	124.26M	122.85M	167.15M	147.49M	72.67M	82.43M	145.59M	163.70M	252.58M	390.51M	522.04M	270.85M	417.23M	319.21M	337.69M	316.34M	322.65M	369.91M	1,039.73M
Capital Lease Obligations	11.64M	15.88M	13.85M	10.74M	10.33M	13.65M	10.69M	1.57M	1.72M	1.00M	0.99M	1.07M	1.06M	0.40M	0.00M	0.02M	0.00M	0.00M	0.00M	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	19.84M	18.69M	14.65M	17.21M	17.35M	6.55M	14.31M	18.69M	23.97M	30.50M	26.47M	9.14M	6.83M	11.49M	46.17M	28.30M	36.54M	16.51M	31.93M	25.61M	21.28M	41.83M	81.52M	43.63M	117.08M	100.00M	137.74M	118.05M	133.46M	85.39M	407.30M
Other Non-Current Liabilities	23.25M	19.81M	16.00M	7.64M	5.56M	10.65M	8.95M	15.48M	11.68M	19.86M	21.19M	35.16M	46.34M	6.50M	12.37M	10.12M	31.55M	30.96M	33.58M	24.83M	37.25M	51.88M	421.66M	35.87M	239.15M	244.55M	234.97M	257.49M	279.23M	193.27M	261.00M
Total Non-Current Liabilities	246.08M	126.13M	124.27M	82.67M	83.60M	87.27M	118.24M	114.88M	140.12M	190.99M	224.03M	175.43M	178.50M	141.24M	225.69M	185.93M	140.75M	129.89M	211.09M	214.13M	311.10M	484.21M	1,025.22M	350.35M	773.46M	663.76M	710.39M	691.88M	735.35M	648.58M	1,708.03M
Total Liabilities	432.12M	313.00M	300.86M	254.98M	212.40M	207.24M	260.78M	278.46M	331.57M	351.20M	413.22M	338.46M	344.94M	268.00M	412.86M	318.94M	227.43M	255.82M	343.79M	398.02M	477.92M	684.02M	1,529.30M	433.26M	1,295.43M	1,082.95M	1,125.25M	1,315.78M	1,165.48M	879.89M	2,590.59M
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	12.32M	12.32M	0.05M	10.02M	0.00M	0.00M	0.00M
Common Stock	31.01M	29.13M	28.64M	29.42M	32.28M	23.51M	20.94M	22.44M	21.05M	23.94M	32.06M	23.45M	20.17M	18.58M	11.85M	20.58M	20.12M	12.60M	39.65M	10.59M	56.58M	69.93M	69.25M	75.69M	76.78M	74.31M	34.01M	3.03M	0.00M	1.62M	1.28M
Retained Earnings	449.15M	430.95M	341.08M	230.37M	227.89M	175.06M	160.10M	273.85M	266.23M	211.15M	226.90M	192.64M	179.62M	99.61M	212.35M	118.35M	67.09M	51.77M	155.49M	81.45M	234.07M	183.31M	340.95M	155.87M	142.93M	250.68M	205.48M	159.74M	152.37M	84.33M	1,777.04M
Accumulated OCI	8.55M	0.86M	2.73M	4.86M	7.41M	4.73M	6.16M	5.16M	-2.56M	-18.65M	-7.57M	-0.41M	-1.79M	-2.38M	-6.38M	-5.27M	-15.00M	-19.33M	0.08M	-2.69M	-2.66M	-4.99M	-25.97M	-67.31M	-127.43M	-117.27M	-84.95M	-49.15M	-52.14M	-14.63M	-46.08M
Minority Interest	6.83M	4.87M	8.10M	3.03M	2.90M	1.83M	1.32M	2.02M	1.87M	6.74M	8.73M	8.43M	5.94M	4.71M	5.99M	15.30M	13.66M	7.43M	6.37M	5.74M	11.77M	7.27M	2.52M	1.57M	1.32M	0.00M	0.00M	0.00M	0.95M	1.10M	2.86M
Total Shareholders’ Equity	488.70M	460.94M	372.45M	264.65M	267.58M	203.30M	187.19M	301.45M	284.72M	216.44M	251.39M	215.68M	198.00M	115.81M	217.82M	133.66M	72.21M	45.04M	195.22M	89.35M	288.00M	248.25M	384.22M	164.25M	104.59M	220.04M	154.59M	123.63M	100.23M	71.33M	1,732.23M
Total Equity	495.54M	465.81M	380.56M	267.68M	270.47M	205.13M	188.52M	303.47M	286.59M	223.18M	260.13M	224.11M	203.95M	120.52M	223.81M	148.96M	85.87M	52.47M	201.60M	95.09M	299.77M	255.52M	386.75M	165.82M	105.91M	220.04M	154.59M	123.63M	101.18M	72.43M	1,735.09M
Total Liabilities & Equity	927.66M	778.82M	681.41M	522.67M	482.87M	412.37M	449.30M	581.93M	618.16M	574.38M	673.35M	562.57M	548.89M	388.52M	636.67M	467.90M	313.30M	308.29M	545.38M	493.11M	777.69M	939.54M	1,916.05M	599.08M	1,401.34M	1,302.99M	1,279.84M	1,439.41M	1,266.66M	952.32M	4,325.68M
Tangible Assets	1,092.74M	1,012.29M	814.99M	642.44M	597.22M	492.56M	500.92M	553.19M	582.37M	643.65M	688.39M	621.11M	568.52M	530.14M	699.23M	598.06M	572.73M	515.56M	542.36M	541.61M	451.48M	594.65M	2,095.15M	429.33M	3,049.75M	1,979.24M	2,091.24M	1,795.97M	1,853.54M	1,305.85M	2,732.05M
Tangible Equity	289.27M	371.20M	292.63M	204.99M	198.08M	138.55M	107.74M	184.01M	170.14M	83.02M	96.62M	111.76M	79.97M	4.54M	79.85M	35.95M	34.28M	-15.63M	46.25M	-75.14M	111.20M	-143.54M	-608.87M	-35.03M	-40.14M	-287.43M	-391.21M	-79.96M	-151.31M	-158.74M	360.95M
Tangible Book Value	289.27M	371.20M	292.63M	204.99M	198.08M	138.55M	107.74M	184.01M	170.14M	83.02M	96.62M	111.76M	79.97M	4.54M	79.85M	35.95M	34.28M	-15.63M	46.25M	-75.14M	111.20M	-143.54M	-608.87M	-35.03M	-40.14M	-287.43M	-391.21M	-79.96M	-151.31M	-158.74M	360.95M
Total Investments	57.87M	65.75M	51.76M	41.93M	38.60M	29.99M	28.30M	59.14M	44.32M	45.47M	44.74M	39.70M	25.58M	23.45M	46.58M	32.07M	34.01M	29.11M	27.32M	17.76M	12.60M	11.87M	8.05M	6.70M	11.61M	4.11M	3.12M	0.16M	0.00M	0.00M	0.00M
Net Debt	17.79M	-97.21M	-62.75M	-17.44M	-26.13M	9.05M	66.04M	47.76M	89.70M	123.07M	166.47M	127.74M	117.22M	90.40M	118.78M	76.92M	-8.63M	43.42M	133.15M	168.90M	287.75M	437.91M	611.32M	251.87M	428.68M	265.95M	346.41M	625.14M	306.43M	352.06M	1,112.49M

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	306.64M	211.26M	149.79M	144.92M	129.30M	44.90M	30.10M	73.01M	87.32M	41.86M	90.80M	87.97M	79.72M	93.48M	149.56M	158.86M	98.37M	83.94M	161.49M	104.06M	69.91M	49.03M	-172.21M	99.04M	-118.91M	-114.09M	-51.45M	-279.31M	-370.32M	-62.12M	70.53M
Total Capital	949.87M	815.04M	684.25M	544.49M	538.38M	428.75M	516.09M	635.20M	578.95M	580.79M	660.89M	675.26M	517.12M	480.67M	693.08M	645.09M	459.79M	419.07M	667.21M	703.56M	941.40M	1,577.65M	1,770.21M	506.57M	1,995.48M	1,932.05M	1,969.00M	2,239.89M	1,845.38M	1,704.91M	2,632.16M
Capital Employed	1,282.17M	894.16M	822.43M	778.75M	786.34M	591.56M	640.56M	797.62M	737.57M	783.67M	828.48M	685.62M	622.28M	568.04M	671.19M	695.03M	539.47M	411.27M	639.35M	712.31M	995.74M	1,931.55M	4,635.35M	509.28M	4,152.73M	4,046.01M	3,693.54M	4,082.54M	3,821.76M	2,743.16M	2,956.35M
Invested Capital	732.34M	599.12M	512.71M	423.05M	430.15M	348.96M	457.96M	565.55M	522.71M	509.36M	590.74M	627.58M	464.69M	416.94M	581.89M	541.06M	358.35M	336.69M	613.32M	645.64M	894.98M	1,524.10M	1,717.71M	471.62M	1,866.97M	1,817.06M	1,912.84M	2,209.30M	1,813.05M	1,676.64M	2,551.64M

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	32.15M	41.72M	41.44M	34.91M	33.77M	26.43M	33.96M	40.21M	43.10M	41.07M	41.07M	34.35M	33.21M	32.34M	35.89M	29.03M	26.12M	31.98M	29.22M	33.91M	35.40M	35.87M	191.17M	35.70M	209.69M	201.89M	218.90M	181.97M	300.68M	142.70M	181.62M
Deferred Income Tax	0.25M	0.00M	0.00M	0.82M	0.74M	0.04M	0.05M	-0.01M	-0.34M	0.00M	0.20M	-0.02M	0.05M	0.19M	-0.25M	0.00M	0.70M	-1.86M	0.15M	-1.66M	0.31M	4.05M	1.60M	5.14M	3.26M	5.17M	0.47M	-2.07M	11.74M	-1.42M	6.10M
Stock-Based Compensation	0.84M	1.02M	0.67M	0.84M	0.90M	0.36M	0.36M	0.31M	0.38M	0.18M	0.29M	0.16M	0.30M	0.28M	0.80M	0.25M	0.14M	0.27M	0.00M	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	8.74M	3.55M	-2.38M	-15.74M	-4.16M	-0.78M	0.85M	-0.81M	-1.62M	0.07M	0.82M	-0.59M	-4.92M	-2.65M	-0.07M	2.11M	-2.91M	-6.21M	-7.22M	-15.95M	-3.17M	-10.77M	-14.81M	-3.72M	6.89M	-0.08M	5.92M	-68.91M	-4.62M	5.38M	-95.91M
Accounts Receivable	-4.68M	-0.56M	-3.93M	-7.82M	-5.33M	0.47M	-1.34M	-2.68M	-2.90M	-3.11M	-2.03M	-2.41M	-1.41M	-1.06M	-1.31M	-0.49M	-1.00M	-0.09M	-0.02M	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	2.00M	-2.43M	-0.37M	-14.15M	-14.66M	0.41M	-3.40M	-4.43M	-2.75M	-0.59M	-0.97M	-1.17M	-0.09M	-2.49M	-6.25M	-0.83M	2.29M	-6.63M	-11.34M	-9.57M	-6.86M	-6.83M	-2.27M	-3.66M	-5.71M	0.17M	-27.97M	1.69M	-1.84M	-1.93M	-22.79M
Accounts Payable	0.24M	-0.75M	3.32M	3.27M	8.00M	0.06M	1.62M	2.58M	3.00M	2.78M	1.33M	0.23M	-0.04M	0.00M	0.00M	0.00M	0.04M	0.27M	0.00M	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	0.59M	-3.23M	1.54M	0.56M	1.43M	0.05M	2.03M	1.25M	-1.79M	0.39M	3.12M	-0.76M	-5.15M	-1.23M	7.67M	3.41M	-3.77M	-2.00M	1.26M	-3.10M	1.43M	-8.86M	-7.87M	-3.74M	7.48M	-1.09M	7.35M	-56.73M	-2.86M	17.75M	-65.69M
Other Non-Cash Items	8.91M	6.32M	8.14M	-0.11M	0.38M	3.72M	4.18M	3.67M	0.02M	6.12M	5.56M	2.09M	-0.06M	-5.99M	-0.80M	-2.25M	1.41M	23.57M	6.62M	9.71M	1.77M	3.22M	4.03M	3.08M	2.47M	3.83M	-0.45M	1.04M	11.13M	17.20M	5.29M
Net Cash from Operating Activities	198.77M	162.44M	152.07M	94.03M	98.97M	92.22M	89.11M	83.25M	95.61M	93.84M	90.94M	80.37M	58.63M	58.06M	96.86M	80.14M	67.53M	71.43M	68.74M	66.06M	115.29M	187.13M	423.76M	85.45M	440.10M	527.75M	500.13M	293.49M	951.09M	308.14M	780.39M
Capital Expenditures (PPE)	-44.49M	-75.95M	-65.40M	-53.80M	-42.95M	-30.75M	-37.25M	-46.58M	-49.53M	-52.25M	-40.63M	-34.66M	-44.94M	-42.09M	-45.90M	-36.74M	-28.33M	-31.39M	-45.30M	-41.42M	-34.97M	-36.32M	-35.74M	-28.55M	-199.25M	-184.97M	-302.03M	-241.97M	-355.25M	-198.58M	-284.03M
Acquisitions (Net)	0.00M	-3.45M	-0.90M	0.16M	-0.17M	-0.43M	-1.01M	-0.97M	-1.50M	-2.45M	-2.28M	-1.01M	-2.61M	-1.55M	-5.55M	-0.56M	-1.05M	-1.03M	-1.76M	-0.41M	-1.22M	-1.79M	-3.48M	-10.43M	-39.57M	-26.74M	-11.11M	0.00M	0.00M	-0.04M	-36.63M
Purchases of Investments	-4.13M	-34.37M	-13.29M	-27.97M	-20.84M	-23.73M	-8.17M	-21.49M	-15.98M	-14.57M	-13.50M	-13.63M	-2.43M	-0.79M	-3.21M	-3.55M	-5.96M	-8.40M	-8.08M	-12.06M	-7.45M	-6.36M	-0.63M	-0.05M	-105.55M	-104.44M	-0.01M	0.00M	-0.96M	0.00M	-42.22M
Sales / Maturities of Investments	3.57M	15.23M	27.07M	26.64M	47.24M	13.80M	8.98M	9.75M	14.45M	7.41M	15.08M	12.04M	0.50M	0.97M	1.48M	0.40M	2.80M	0.26M	27.61M	10.22M	10.49M	5.15M	6.21M	0.45M	105.02M	66.99M	0.02M	0.18M	35.40M	0.00M	78.44M
Other Investing Activities	-0.05M	1.77M	1.74M	0.67M	0.80M	3.74M	2.59M	3.06M	0.51M	-0.75M	0.97M	-0.30M	0.75M	2.25M	-1.17M	2.05M	0.65M	1.35M	2.14M	6.60M	2.22M	-0.58M	-5.09M	-0.29M	0.41M	3.22M	-32.43M	-21.60M	-4.19M	-12.60M	-35.45M
Net Cash from Investing Activities	-63.78M	-87.71M	-53.99M	-42.12M	-45.05M	-38.66M	-46.38M	-42.04M	-63.34M	-76.87M	-59.68M	-88.98M	-84.02M	-48.08M	-85.80M	-67.71M	-53.00M	-32.96M	-67.97M	-55.83M	-67.66M	-45.25M	-271.09M	-38.66M	-328.81M	-286.55M	-326.09M	-553.36M	-188.29M	-310.02M	-322.19M
Net Debt Issuance	-1.82M	6.77M	1.56M	-1.51M	-4.60M	-5.61M	-6.31M	-1.66M	-1.35M	10.72M	0.24M	-4.12M	19.25M	11.83M	35.19M	6.10M	-1.68M	-0.24M	-0.25M	-16.77M	-5.34M	-5.82M	-2.77M	-80.28M	-8.11M	-20.45M	116.42M	355.05M	13.20M	39.98M	9.65M
Long-Term Debt Issuance	-2.11M	5.63M	-0.32M	-3.73M	-4.65M	-3.60M	-4.01M	-1.97M	-2.53M	12.93M	5.09M	-3.39M	14.68M	5.87M	34.17M	4.86M	4.87M	2.74M	-2.31M	-0.83M	-11.00M	-4.35M	-2.77M	-80.28M	-8.11M	-20.45M	116.42M	355.05M	13.20M	39.98M	9.65M
Short-Term Debt Issuance	-1.25M	0.00M	0.00M	0.55M	0.13M	-0.37M	-0.66M	0.09M	0.00M	-0.05M	0.01M	0.40M	1.21M	0.25M	0.55M	0.00M	-0.46M	0.07M	0.00M	-4.63M	-0.53M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-0.22M	-2.20M	-0.09M	-0.70M	2.07M	0.06M	0.00M	0.00M	0.07M	0.01M	0.06M	0.06M	0.05M	0.10M	-0.02M	-0.23M	0.24M	-0.18M	0.29M	0.07M	0.26M	0.44M	0.20M	0.19M	-0.08M	-0.48M	-0.34M	-123.16M	-5.86M	-53.31M	-67.78M
Common Stock Issuance	0.02M	0.45M	0.23M	0.34M	7.76M	0.88M	0.35M	1.57M	0.96M	1.05M	1.26M	3.23M	1.06M	0.56M	1.01M	2.47M	0.72M	0.55M	1.85M	0.46M	0.91M	3.98M	22.73M	2.58M	8.17M	3.06M	5.35M	15.79M	32.51M	3.68M	20.40M
Common Stock Repurchased	-0.25M	-2.42M	-0.20M	-0.72M	-0.08M	-0.05M	-0.01M	0.00M	-0.02M	-0.37M	-0.41M	0.00M	-0.01M	-0.06M	-0.05M	-0.32M	-0.31M	-0.67M	0.00M	-0.20M	0.00M	0.00M	0.00M	-0.02M	-2.82M	-30.92M	-3.91M	-134.77M	-6.16M	-56.26M	-125.00M
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	-16.10M	-30.94M	-16.33M	-19.57M	-23.56M	-12.83M	-17.58M	-20.05M	-18.00M	-11.49M	-10.89M	-9.46M	-9.84M	-7.98M	-21.49M	-15.14M	-7.12M	-11.18M	-6.18M	-13.44M	-10.88M	-17.29M	-16.38M	-20.80M	-27.24M	-30.74M	-27.39M	-20.28M	-13.84M	-8.12M	-135.74M
Common Dividends Paid	-15.70M	-30.54M	-15.93M	-19.41M	-23.56M	-12.83M	-17.62M	-20.05M	-18.00M	-11.49M	-10.59M	-9.42M	-9.84M	-7.34M	-21.57M	-15.05M	-6.74M	-7.47M	-6.42M	-12.01M	-11.09M	-22.82M	-22.82M	-21.00M	-32.31M	-30.74M	-27.39M	-20.28M	-13.84M	-8.12M	-135.74M
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	-5.24M	-5.68M	-4.41M	-3.56M	-5.48M	-1.78M	-1.43M	-1.97M	-2.75M	-1.87M	-1.95M	-1.81M	-1.53M	-0.22M	-1.41M	-1.59M	-0.78M	-2.26M	2.57M	1.52M	-2.95M	2.35M	4.59M	-0.38M	3.39M	-0.78M	-0.34M	-4.43M	4.77M	-1.94M	1.39M
Net Cash from Financing Activities	-43.52M	-69.56M	-57.13M	-49.28M	-36.84M	-17.92M	-40.75M	-23.61M	-36.18M	-24.37M	-30.85M	-11.89M	-5.77M	-8.09M	-30.60M	-15.22M	-25.69M	-27.41M	1.47M	-25.07M	-86.11M	-161.45M	-18.46M	-29.61M	13.34M	-45.51M	-28.92M	-5.29M	10.06M	29.14M	-274.57M
Effect of FX on Cash	0.31M	0.08M	0.02M	-0.11M	0.01M	0.01M	0.06M	-0.01M	-0.21M	-1.05M	-0.19M	-0.15M	-0.03M	0.01M	0.01M	0.04M	0.04M	-2.79M	0.23M	0.03M	-0.85M	0.33M	1.75M	0.18M	-0.06M	-0.34M	0.03M	-0.97M	-0.61M	-1.36M	-1.79M
Net Change in Cash	26.90M	13.17M	25.26M	-6.15M	11.67M	23.29M	0.63M	12.39M	5.56M	9.38M	13.64M	-4.75M	1.35M	4.06M	10.65M	10.44M	13.68M	5.95M	3.48M	4.31M	-0.78M	6.19M	1.41M	3.09M	1.22M	20.36M	13.60M	-28.96M	62.86M	27.22M	4.63M
Cash at Beginning of Period	165.73M	169.56M	125.35M	93.16M	92.40M	57.14M	63.80M	55.21M	63.94M	68.11M	54.85M	51.06M	69.98M	56.25M	102.66M	88.37M	83.20M	51.80M	52.76M	41.63M	54.33M	50.07M	92.20M	77.84M	127.06M	62.48M	35.79M	48.33M	85.76M	13.69M	84.21M
Cash at End of Period	194.98M	206.49M	167.95M	111.33M	97.18M	81.92M	60.46M	70.68M	60.40M	71.73M	70.87M	54.69M	51.74M	63.75M	114.10M	103.08M	103.91M	83.75M	56.98M	58.91M	46.88M	52.74M	53.22M	36.92M	132.35M	122.13M	63.66M	30.58M	367.73M	45.79M	97.73M
Operating Cash Flow	198.77M	162.39M	151.94M	92.04M	98.97M	92.22M	89.11M	83.25M	95.61M	93.84M	90.94M	80.37M	58.63M	58.06M	96.86M	80.14M	67.53M	71.43M	68.74M	66.06M	115.29M	187.13M	423.76M	85.45M	440.10M	527.75M	500.13M	293.49M	951.09M	308.14M	780.39M
Capital Expenditure	-48.16M	-86.06M	-64.51M	-53.72M	-43.22M	-30.76M	-37.12M	-46.28M	-49.49M	-52.18M	-40.54M	-34.52M	-44.82M	-41.98M	-45.76M	-36.63M	-28.28M	-31.28M	-45.17M	-40.96M	-33.69M	-36.32M	-35.74M	-28.55M	-199.25M	-184.97M	-302.03M	-241.97M	-355.25M	-198.58M	-284.03M
Free Cash Flow	124.48M	101.70M	96.22M	42.40M	63.34M	65.02M	54.37M	37.38M	44.40M	38.37M	51.86M	40.40M	24.12M	24.92M	73.73M	58.69M	45.31M	49.91M	39.45M	37.42M	85.29M	152.16M	172.57M	59.90M	81.17M	124.22M	31.34M	-13.02M	592.87M	114.27M	380.02M

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	245.08M	222.63M	199.78M	117.72M	115.07M	74.30M	87.52M	111.00M	101.83M	102.79M	111.02M	78.35M	81.64M	79.49M	101.51M	100.33M	86.33M	52.52M	100.93M	68.93M	182.69M	258.83M	628.22M	127.93M	741.16M	846.17M	774.77M	618.11M	595.26M	342.52M	869.94M
(-) Tax Adjustment	64.23M	57.39M	53.34M	30.15M	27.54M	16.74M	21.79M	27.25M	29.25M	33.83M	31.47M	19.08M	17.19M	17.55M	25.52M	25.41M	20.60M	11.10M	33.95M	20.59M	62.35M	75.12M	195.37M	49.71M	264.99M	258.32M	258.82M	120.55M	58.93M	135.05M	282.03M
(-) Change In Working Capital	8.74M	3.55M	-2.38M	-15.74M	-4.16M	-0.78M	0.85M	-0.81M	-1.62M	0.07M	0.82M	-0.59M	-4.92M	-2.65M	-0.07M	2.11M	-2.91M	-6.21M	-7.22M	-15.95M	-3.17M	-10.77M	-14.81M	-3.72M	6.89M	-0.08M	5.92M	-68.91M	-4.62M	5.38M	-95.91M
(-) Capital Expenditure	48.16M	86.06M	64.51M	53.72M	43.22M	30.76M	37.12M	46.28M	49.49M	52.18M	40.54M	34.52M	44.82M	41.98M	45.76M	36.63M	28.28M	31.28M	45.17M	40.96M	33.69M	36.32M	35.74M	28.55M	199.25M	184.97M	302.03M	241.97M	355.25M	198.58M	284.03M
Unlevered Free Cash Flow	123.95M	75.63M	84.31M	49.60M	48.48M	27.58M	27.76M	38.28M	24.71M	16.71M	38.19M	25.35M	24.55M	22.61M	30.30M	36.17M	40.36M	16.35M	29.03M	23.33M	89.83M	158.16M	411.91M	53.40M	270.04M	402.96M	207.99M	324.50M	185.70M	3.51M	399.78M
(-) Net Interest Income After Taxes	-1.99M	-0.31M	0.37M	-1.01M	-1.49M	-2.25M	-3.63M	-4.49M	-3.52M	-5.99M	-5.37M	-3.43M	-6.07M	-4.65M	-10.79M	-6.78M	-5.08M	-5.52M	-5.56M	-0.78M	-4.25M	-7.95M	-15.49M	-0.13M	-0.08M	-3.03M	-0.16M	0.00M	-0.23M	-0.26M	-0.11M
Net Debt Issuance	-1.82M	6.77M	1.56M	-1.51M	-4.60M	-5.61M	-6.31M	-1.66M	-1.35M	10.72M	0.24M	-4.12M	19.25M	11.83M	35.19M	6.10M	-1.68M	-0.24M	-0.25M	-16.77M	-5.34M	-5.82M	-2.77M	-80.28M	-8.11M	-20.45M	116.42M	355.05M	13.20M	39.98M	9.65M
Levered Free Cash Flow	124.11M	82.71M	85.50M	49.10M	45.36M	24.23M	25.08M	41.11M	26.88M	33.43M	43.80M	24.66M	49.87M	39.09M	76.28M	49.05M	43.76M	21.63M	34.34M	7.34M	88.75M	160.29M	424.64M	-26.75M	262.00M	385.54M	324.58M	679.55M	199.14M	43.75M	409.54M