Industrial - Capital Goods

Category: Industry Averages Base Ticker: 0IRE.L

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	165.43	125.72	101.16	90.26	97.01	91.40	80.63	66.76	80.10	73.53	65.16	64.14	59.27	48.47	43.36	73.82	50.07	50.08	95.24	70.38	58.63	56.23	46.13	48.12	94.31	62.53	46.30	39.05	46.14	24.74	20.37
Market Capitalization	16,479.45M	4,034.57M	3,522.34M	3,165.17M	3,769.57M	2,817.69M	3,092.48M	2,722.94M	2,945.02M	2,754.17M	2,097.30M	2,047.97M	2,056.40M	1,737.60M	863.37M	1,155.15M	828.59M	580.88M	1,064.02M	1,018.38M	900.15M	585.29M	712.55M	620.42M	6,592.16M	4,266.21M	3,065.66M	2,860.10M	3,599.29M	2,305.99M	1,778.58M
(-) Cash & Equivalents	543.00M	383.41M	337.89M	267.84M	308.41M	322.97M	227.14M	195.03M	212.77M	202.72M	162.62M	203.51M	188.81M	187.36M	163.20M	155.80M	146.43M	64.02M	110.81M	74.53M	73.05M	120.24M	79.54M	77.80M	284.98M	289.86M	252.16M	169.62M	145.75M	20.27M	11.73M
(+) Total Debt	1,546.72M	735.51M	761.76M	563.29M	676.87M	553.44M	439.80M	368.30M	341.33M	296.11M	225.79M	193.21M	196.20M	103.74M	109.69M	91.78M	67.91M	62.15M	92.67M	108.05M	77.50M	63.92M	85.90M	95.99M	2,564.51M	1,391.66M	1,313.44M	1,275.50M	1,119.41M	1,197.47M	528.33M
Enterprise Value	17,542.57M	3,855.78M	4,155.36M	3,719.46M	4,169.29M	3,260.73M	3,473.80M	3,034.16M	3,159.49M	2,926.63M	2,368.45M	2,593.52M	2,511.79M	1,960.95M	947.69M	1,151.21M	787.87M	525.36M	994.13M	997.85M	913.57M	529.41M	756.00M	689.61M	8,871.69M	5,368.01M	4,126.94M	3,965.98M	4,572.95M	3,483.19M	2,295.18M

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	3,804.762M	2,338.115M	1,990.757M	1,810.768M	1,691.245M	1,418.755M	1,546.348M	1,483.668M	1,464.927M	1,299.297M	1,237.853M	1,248.816M	1,400.240M	1,685.883M	1,039.563M	1,141.200M	868.806M	1,028.927M	1,052.317M	917.499M	900.717M	847.272M	1,106.772M	1,061.705M	5,888.314M	4,182.929M	4,148.249M	3,763.303M	3,816.319M	3,227.033M	2,749.767M
Cost of Revenue	2,449.148M	1,374.969M	1,278.095M	1,201.862M	1,108.559M	967.313M	1,033.569M	998.799M	941.558M	815.140M	748.665M	679.385M	828.635M	914.334M	584.940M	601.281M	497.395M	592.946M	551.232M	475.138M	462.384M	382.693M	572.556M	545.487M	4,841.119M	3,091.907M	3,134.122M	2,834.244M	2,825.346M	2,212.067M	1,910.733M
Gross Profit	1,355.613M	963.146M	712.662M	608.905M	582.686M	451.441M	512.780M	484.869M	523.369M	484.157M	489.188M	569.431M	571.605M	771.549M	454.623M	539.919M	371.411M	435.980M	501.085M	442.361M	438.333M	464.579M	534.215M	516.217M	1,047.195M	1,091.022M	1,014.127M	929.059M	990.973M	1,014.967M	839.033M
Gross Margin	35.63%	41.19%	35.80%	33.63%	34.45%	31.82%	33.16%	32.68%	35.73%	37.26%	39.52%	45.60%	40.82%	45.77%	43.73%	47.31%	42.75%	42.37%	47.62%	48.21%	48.66%	54.83%	48.27%	48.62%	17.78%	26.08%	24.45%	24.69%	25.97%	31.45%	30.51%
R&D Expenses	41.222M	33.630M	36.190M	31.398M	40.824M	22.231M	31.846M	21.226M	20.550M	18.466M	17.608M	25.324M	20.665M	13.700M	2.549M	2.514M	2.975M	2.073M	0.504M	0.336M	0.296M	0.131M	0.000M	0.000M	0.000M	0.000M	0.000M	14.372M	0.000M	0.000M	0.000M
SG&A Expenses	538.095M	249.959M	213.067M	149.171M	118.009M	122.836M	138.611M	165.025M	136.509M	122.235M	93.048M	124.633M	205.417M	248.994M	74.112M	172.822M	71.621M	57.631M	43.735M	33.985M	55.426M	56.171M	53.058M	51.884M	551.818M	474.984M	482.700M	488.725M	479.000M	606.767M	510.133M
Operating Expenses	579.316M	283.589M	249.256M	180.569M	158.833M	145.067M	170.457M	186.251M	157.059M	140.701M	110.656M	149.957M	226.083M	262.693M	76.661M	175.336M	74.596M	59.704M	44.239M	34.321M	55.721M	56.303M	53.058M	51.884M	551.818M	474.984M	482.700M	503.097M	479.000M	606.767M	510.133M
Operating Income	776.297M	679.556M	463.405M	428.337M	423.853M	306.374M	342.323M	298.618M	366.310M	343.456M	378.533M	419.474M	345.522M	508.856M	377.962M	364.583M	296.814M	376.277M	456.846M	408.040M	382.612M	408.276M	481.157M	464.333M	495.377M	616.038M	531.427M	425.961M	511.973M	408.200M	328.900M
Operating Margin	20.40%	29.06%	23.28%	23.65%	25.06%	21.59%	22.14%	20.13%	25.01%	26.43%	30.58%	33.59%	24.68%	30.18%	36.36%	31.95%	34.16%	36.57%	43.41%	44.47%	42.48%	48.19%	43.47%	43.73%	8.41%	14.73%	12.81%	11.32%	13.42%	12.65%	11.96%
Interest Income	4.465M	5.346M	3.160M	3.646M	1.940M	2.027M	1.768M	2.857M	2.021M	2.187M	0.812M	1.235M	1.235M	1.254M	1.815M	2.043M	2.013M	4.605M	2.963M	1.519M	0.892M	3.116M	1.773M	1.131M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	49.575M	31.611M	26.046M	16.814M	17.877M	17.064M	17.600M	6.367M	7.019M	4.099M	5.302M	4.833M	6.009M	6.283M	14.871M	13.894M	13.637M	12.948M	5.798M	3.683M	7.128M	3.991M	3.515M	4.109M	11.418M	12.517M	5.016M	10.817M	21.605M	0.000M	0.000M
Net Interest Income	-45.110M	-26.265M	-22.886M	-13.168M	-15.938M	-15.037M	-15.832M	-3.510M	-4.998M	-1.912M	-4.490M	-3.598M	-4.774M	-5.029M	-13.056M	-11.851M	-11.624M	-8.343M	-2.835M	-2.165M	-6.236M	-0.876M	-1.743M	-2.978M	-11.418M	-12.517M	-5.016M	-10.817M	-21.605M	0.000M	0.000M
Other Income / Expense	-353.039M	-425.792M	-247.849M	-255.458M	-248.371M	-204.202M	-194.054M	-154.023M	-235.892M	-227.838M	-278.263M	-311.235M	-223.125M	-380.950M	-301.048M	-286.393M	-254.488M	-322.883M	-357.271M	-352.416M	-332.696M	-382.118M	-446.387M	-405.869M	-126.412M	-175.186M	-186.661M	-257.244M	-184.305M	-209.133M	-131.400M
Pre-Tax Income	378.148M	227.499M	192.670M	159.711M	159.544M	87.135M	132.437M	141.086M	125.419M	113.706M	95.780M	104.641M	117.623M	122.877M	63.858M	66.338M	30.702M	45.052M	96.740M	53.460M	43.680M	25.282M	33.028M	55.487M	357.548M	428.335M	339.750M	157.900M	306.063M	199.067M	197.500M
Pre-Tax Margin	9.94%	9.73%	9.68%	8.82%	9.43%	6.14%	8.56%	9.51%	8.56%	8.75%	7.74%	8.38%	8.40%	7.29%	6.14%	5.81%	3.53%	4.38%	9.19%	5.83%	4.85%	2.98%	2.98%	5.23%	6.07%	10.24%	8.19%	4.20%	8.02%	6.17%	7.18%
Income Tax Expense	88.951M	46.392M	35.928M	34.502M	27.557M	18.199M	28.620M	27.850M	30.772M	39.452M	30.833M	31.445M	43.028M	34.292M	19.951M	20.052M	11.175M	17.247M	33.823M	18.928M	16.350M	26.056M	13.647M	13.507M	126.934M	150.492M	120.972M	59.176M	110.619M	76.200M	74.567M
Tax Rate	23.52%	20.39%	18.65%	21.60%	17.27%	20.89%	21.61%	19.74%	24.54%	34.70%	32.19%	30.05%	35.00%	27.91%	31.24%	30.23%	35.00%	35.00%	34.96%	35.00%	35.00%	35.00%	35.00%	24.34%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%	35.00%
Net Income	289.196M	181.107M	156.741M	125.209M	131.987M	68.936M	103.817M	113.236M	94.647M	74.254M	64.947M	73.195M	74.595M	88.585M	43.907M	46.286M	19.527M	27.805M	62.916M	34.532M	27.330M	-0.774M	19.382M	41.980M	230.614M	277.843M	218.778M	98.725M	195.445M	122.867M	122.933M
Net Margin	7.60%	7.75%	7.87%	6.91%	7.80%	4.86%	6.71%	7.63%	6.46%	5.71%	5.25%	5.86%	5.33%	5.25%	4.22%	4.06%	2.25%	2.70%	5.98%	3.76%	3.03%	-0.09%	1.75%	3.95%	3.92%	6.64%	5.27%	2.62%	5.12%	3.81%	4.47%
EBIT	776.297M	679.556M	463.405M	428.337M	423.853M	306.374M	342.323M	298.618M	366.310M	343.456M	378.533M	419.474M	345.522M	508.856M	377.962M	364.583M	296.814M	376.277M	456.846M	408.040M	382.612M	408.276M	481.157M	464.333M	495.377M	616.038M	531.427M	425.961M	511.973M	408.200M	328.900M
Depreciation & Amortization	158.965M	72.837M	55.835M	56.399M	54.500M	55.618M	56.702M	44.457M	44.479M	43.342M	45.529M	41.200M	49.851M	50.901M	28.288M	37.385M	36.552M	29.602M	28.968M	26.076M	25.658M	29.605M	36.281M	33.688M	215.749M	141.161M	139.886M	132.769M	137.155M	133.867M	104.967M
EBITDA	935.262M	752.394M	519.241M	484.735M	478.353M	361.992M	399.025M	343.076M	410.789M	386.798M	424.061M	460.674M	395.373M	559.756M	406.250M	401.968M	333.366M	405.878M	485.813M	434.117M	408.269M	437.881M	517.438M	498.021M	711.126M	757.199M	671.314M	558.731M	649.128M	542.067M	433.867M
EBITDA Margin	24.58%	32.18%	26.08%	26.77%	28.28%	25.51%	25.80%	23.12%	28.04%	29.77%	34.26%	36.89%	28.24%	33.20%	39.08%	35.22%	38.37%	39.45%	46.17%	47.32%	45.33%	51.68%	46.75%	46.91%	12.08%	18.10%	16.18%	14.85%	17.01%	16.80%	15.78%
NOPAT	593.689M	540.979M	376.991M	335.804M	350.643M	242.387M	268.346M	239.672M	276.435M	224.290M	256.678M	293.418M	224.590M	366.846M	259.878M	254.380M	192.929M	244.580M	297.118M	265.226M	248.698M	265.379M	312.752M	351.302M	321.995M	400.425M	345.428M	276.875M	332.782M	265.330M	213.785M
NOPAT Margin	15.60%	23.14%	18.94%	18.54%	20.73%	17.08%	17.35%	16.15%	18.87%	17.26%	20.74%	23.50%	16.04%	21.76%	25.00%	22.29%	22.21%	23.77%	28.23%	28.91%	27.61%	31.32%	28.26%	33.09%	5.47%	9.57%	8.33%	7.36%	8.72%	8.22%	7.77%
Owner's Earnings	448.162M	253.944M	212.577M	181.608M	186.487M	124.554M	160.519M	157.693M	139.126M	117.597M	110.476M	114.395M	124.445M	139.485M	72.195M	83.671M	56.079M	57.407M	91.884M	60.608M	52.988M	28.831M	55.662M	75.668M	446.362M	419.004M	358.664M	231.494M	332.599M	256.733M	227.900M
Owner's Earnings Margin	11.78%	10.86%	10.68%	10.03%	11.03%	8.78%	10.38%	10.63%	9.50%	9.05%	8.92%	9.16%	8.89%	8.27%	6.94%	7.33%	6.45%	5.58%	8.73%	6.61%	5.88%	3.40%	5.03%	7.13%	7.58%	10.02%	8.65%	6.15%	8.72%	7.96%	8.29%
EPS	4.78	4.03	3.60	2.99	3.11	1.65	2.56	2.78	2.49	1.99	1.94	2.11	2.17	1.88	1.71	1.79	0.83	1.33	2.97	1.65	1.25	-0.04	0.79	1.70	2.70	3.49	2.75	1.24	2.54	1.48	1.59
EPS (Diluted)	4.78	4.03	3.60	2.99	3.11	1.65	2.56	2.78	2.49	1.99	1.94	2.11	2.17	1.88	1.71	1.79	0.83	1.33	2.97	1.65	1.25	-0.04	0.79	1.70	2.70	3.49	2.75	1.24	2.54	1.48	1.59
Shares (Diluted)	60,498,151	44,977,010	43,544,656	41,890,753	42,400,443	41,663,523	40,599,800	40,708,292	37,969,934	37,307,805	33,471,841	34,619,269	34,441,944	47,045,641	25,729,143	25,907,550	23,543,710	20,921,875	21,203,370	20,950,573	21,903,945	22,048,462	24,621,431	24,646,929	85,294,395	79,602,500	79,622,287	79,576,575	76,815,798	82,988,668	77,384,052

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	543.00M	383.41M	337.89M	267.84M	308.41M	322.97M	227.14M	195.03M	212.77M	202.72M	162.62M	203.51M	188.81M	193.69M	163.20M	155.80M	146.43M	64.02M	110.81M	74.53M	73.05M	120.24M	79.54M	77.80M	284.98M	289.86M	252.16M	169.62M	145.75M	20.27M	11.73M
Short-Term Investments	13.15M	22.04M	25.91M	13.72M	11.95M	10.41M	15.22M	14.52M	18.66M	32.18M	22.78M	5.96M	9.64M	18.14M	0.26M	1.63M	1.46M	1.80M	33.16M	11.99M	0.77M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Cash & Short-Term Investments	556.16M	405.45M	363.81M	281.56M	320.36M	333.38M	242.36M	209.55M	231.43M	234.89M	185.40M	209.46M	198.45M	211.83M	163.46M	157.44M	147.89M	65.82M	143.97M	86.52M	73.81M	120.24M	79.54M	77.80M	284.98M	289.86M	252.16M	169.62M	145.75M	20.27M	11.73M
Net Receivables	1,014.18M	513.05M	374.86M	349.50M	302.81M	257.66M	279.54M	320.90M	290.10M	260.54M	232.07M	269.48M	278.61M	248.09M	190.33M	192.62M	164.09M	169.96M	158.38M	162.32M	165.70M	220.13M	124.09M	133.36M	913.28M	626.45M	1,147.05M	980.17M	792.62M	675.87M	607.77M
Inventory	559.89M	437.15M	377.04M	338.19M	279.94M	215.93M	225.26M	231.21M	204.10M	199.54M	167.32M	193.99M	175.22M	169.34M	160.49M	160.94M	136.68M	156.94M	143.63M	141.83M	142.23M	166.04M	187.42M	168.94M	1,184.17M	925.94M	964.55M	915.18M	884.89M	447.93M	349.33M
Other Current Assets	150.16M	38.98M	46.82M	34.53M	11.12M	18.74M	29.65M	24.19M	31.16M	18.48M	16.11M	27.02M	32.55M	53.97M	47.48M	33.21M	31.19M	28.77M	9.70M	8.18M	5.95M	3.15M	119.71M	95.16M	1,399.80M	917.14M	44.85M	61.88M	59.10M	77.13M	53.03M
Total Current Assets	2,280.39M	1,394.63M	1,162.54M	1,003.78M	914.22M	825.71M	776.81M	785.86M	756.79M	713.45M	600.91M	699.95M	684.83M	683.23M	561.76M	544.21M	479.85M	421.50M	455.68M	398.85M	387.69M	509.56M	510.77M	475.25M	3,782.23M	2,759.39M	2,408.61M	2,126.84M	1,882.36M	1,221.20M	1,021.87M
Property, Plant & Equipment	1,125.23M	396.22M	332.10M	312.13M	284.91M	285.23M	307.85M	278.87M	253.45M	237.69M	200.67M	257.21M	249.68M	234.48M	161.38M	188.61M	168.34M	160.04M	163.85M	145.54M	142.21M	180.17M	198.94M	198.31M	1,034.50M	582.17M	700.11M	597.59M	569.83M	555.37M	473.47M
Goodwill	2,408.59M	595.93M	309.60M	299.87M	299.81M	268.49M	342.28M	293.36M	281.64M	228.14M	203.22M	229.72M	201.63M	160.83M	115.58M	181.78M	81.73M	21.72M	41.67M	38.82M	30.20M	16.32M	2.63M	1.79M	82.80M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	852.56M	310.23M	250.95M	211.94M	182.30M	174.49M	161.59M	143.06M	88.38M	72.99M	66.09M	68.74M	62.80M	55.63M	68.22M	63.62M	57.71M	45.77M	19.70M	18.69M	24.21M	27.15M	63.87M	85.00M	2,492.04M	1,217.41M	1,002.30M	1,113.33M	1,448.92M	1,546.70M	633.17M
Long-Term Investments	122.67M	41.32M	22.05M	29.98M	29.85M	27.86M	21.32M	14.34M	9.66M	6.02M	4.12M	2.42M	3.09M	2.34M	0.79M	0.23M	0.25M	1.19M	0.29M	0.00M	0.04M	0.00M	0.00M	0.00M	-86.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Tax Assets	19.52M	30.49M	10.83M	21.40M	16.59M	20.00M	17.14M	20.23M	17.53M	20.00M	17.47M	7.36M	5.34M	6.77M	6.09M	11.45M	8.03M	5.70M	5.18M	2.59M	4.88M	3.94M	3.68M	3.53M	93.42M	6.18M	6.75M	2.40M	2.95M	2.33M	1.60M
Other Non-Current Assets	536.17M	100.82M	78.74M	61.48M	72.42M	57.31M	61.60M	35.51M	36.85M	30.92M	52.61M	66.10M	59.48M	28.89M	49.49M	59.69M	39.34M	38.92M	57.59M	57.20M	60.44M	83.69M	53.47M	41.46M	1,050.37M	475.76M	485.04M	308.68M	306.69M	353.00M	171.50M
Other Assets	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	2.53M	1.14M	0.08M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	5,064.74M	1,475.01M	1,004.27M	936.79M	885.88M	833.37M	911.78M	787.90M	688.64M	595.84M	544.18M	631.55M	582.03M	488.94M	401.55M	505.38M	355.40M	273.35M	288.29M	262.83M	261.98M	311.27M	322.58M	330.08M	4,667.12M	2,281.51M	2,194.20M	2,022.00M	2,328.40M	2,457.40M	1,279.73M
Total Assets	7,345.13M	2,869.64M	2,166.81M	1,940.57M	1,800.11M	1,659.08M	1,688.60M	1,573.76M	1,445.43M	1,309.29M	1,145.08M	1,331.50M	1,266.86M	1,172.17M	963.31M	1,049.59M	835.25M	694.85M	743.97M	661.69M	649.67M	820.83M	833.35M	805.33M	8,449.35M	5,040.90M	4,602.82M	4,148.85M	4,210.75M	3,678.60M	2,301.60M
Accounts Payable	370.56M	196.45M	134.17M	150.55M	174.89M	134.57M	145.65M	150.14M	121.98M	107.44M	103.10M	112.69M	113.59M	110.80M	79.86M	103.56M	81.74M	69.93M	79.33M	89.50M	80.95M	95.55M	87.78M	85.10M	772.48M	600.07M	533.28M	461.31M	427.37M	192.23M	149.87M
Short-Term Debt	148.48M	65.92M	55.31M	65.20M	39.57M	79.68M	62.89M	33.50M	18.90M	15.27M	13.65M	19.38M	20.60M	12.88M	11.08M	17.22M	9.63M	5.75M	15.43M	17.22M	16.58M	12.91M	12.27M	16.74M	430.75M	270.54M	347.21M	373.66M	268.31M	151.73M	78.97M
Tax Payables	0.00M	8.98M	12.89M	12.55M	13.32M	9.77M	10.73M	10.32M	13.25M	7.35M	5.40M	4.38M	3.79M	3.56M	3.54M	4.75M	2.06M	2.45M	5.53M	6.32M	2.21M	1.87M	1.11M	1.65M	34.25M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	37.91M	81.13M	37.98M	89.49M	102.15M	83.33M	78.56M	48.04M	69.37M	27.20M	20.10M	12.20M	14.29M	25.24M	8.15M	5.15M	3.84M	5.65M	5.18M	0.50M	5.50M	0.00M	0.00M	0.00M	94.73M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	638.53M	172.76M	223.77M	160.25M	155.55M	129.80M	186.37M	218.67M	148.00M	177.28M	138.50M	139.41M	158.16M	144.59M	101.35M	162.77M	124.54M	137.38M	86.77M	103.59M	70.88M	138.46M	151.19M	140.73M	1,017.84M	939.35M	791.75M	597.87M	640.22M	644.60M	463.37M
Total Current Liabilities	1,195.48M	525.24M	464.11M	478.04M	485.48M	437.14M	484.19M	460.66M	371.50M	334.54M	280.76M	288.06M	310.42M	297.07M	203.98M	293.45M	221.81M	221.16M	192.23M	217.13M	176.12M	248.80M	252.34M	244.22M	2,350.06M	1,809.96M	1,672.24M	1,432.84M	1,335.90M	988.57M	692.20M
Long-Term Debt	1,216.94M	727.37M	647.16M	547.39M	483.87M	458.41M	428.21M	344.76M	259.17M	224.01M	156.74M	187.49M	187.00M	219.08M	85.68M	62.10M	15.97M	54.29M	46.09M	53.83M	66.44M	49.94M	75.49M	79.25M	2,133.71M	1,121.11M	966.22M	901.84M	851.10M	1,045.73M	449.37M
Capital Lease Obligations	15.29M	54.54M	40.31M	27.11M	27.51M	28.81M	28.26M	2.59M	1.22M	1.05M	0.56M	0.58M	0.23M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	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	123.83M	25.82M	25.42M	38.53M	34.29M	13.28M	19.46M	19.25M	17.57M	17.86M	10.42M	11.86M	8.51M	8.81M	13.45M	16.01M	17.16M	11.60M	3.69M	3.81M	9.87M	8.82M	8.64M	7.85M	173.43M	75.18M	22.75M	31.27M	32.27M	22.67M	11.93M
Other Non-Current Liabilities	486.82M	171.31M	89.76M	59.08M	115.06M	174.08M	124.04M	119.89M	118.82M	118.74M	74.76M	93.80M	74.72M	32.15M	111.63M	162.85M	116.38M	91.53M	31.80M	29.98M	36.63M	68.94M	87.26M	96.63M	780.73M	414.24M	484.87M	505.57M	515.63M	625.77M	404.20M
Total Non-Current Liabilities	1,842.89M	979.03M	802.65M	672.11M	660.74M	674.58M	599.96M	486.49M	396.77M	361.66M	242.47M	293.74M	270.47M	260.04M	210.76M	240.95M	149.51M	157.42M	81.59M	87.62M	112.94M	127.69M	171.40M	183.73M	3,087.87M	1,610.53M	1,473.84M	1,438.68M	1,399.00M	1,694.17M	865.50M
Total Liabilities	3,038.36M	1,504.27M	1,266.75M	1,150.15M	1,146.21M	1,111.72M	1,084.15M	947.15M	768.27M	696.19M	523.23M	581.79M	580.89M	557.11M	414.74M	534.40M	371.32M	378.58M	273.82M	304.75M	289.06M	376.49M	423.74M	427.96M	5,437.93M	3,420.49M	3,146.08M	2,871.52M	2,734.90M	2,682.73M	1,557.70M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	13.18M	4.96M	0.44M	1.63M	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	124.13M	37.51M	36.00M	37.43M	4.23M	0.00M	0.00M
Common Stock	17.27M	20.71M	12.02M	12.06M	18.76M	18.61M	18.54M	18.49M	17.90M	18.39M	24.13M	26.28M	27.30M	26.94M	21.87M	36.53M	27.47M	25.16M	26.46M	27.00M	29.06M	31.20M	30.70M	31.72M	1,129.48M	316.73M	273.70M	16.70M	16.65M	22.03M	14.57M
Retained Earnings	3,326.48M	1,224.09M	891.87M	791.83M	723.73M	657.34M	684.73M	590.72M	489.02M	424.07M	365.66M	324.66M	333.21M	277.77M	92.89M	96.52M	260.25M	82.94M	310.78M	243.61M	213.99M	43.21M	58.36M	44.14M	1,270.36M	1,246.80M	1,028.17M	878.74M	848.00M	726.97M	646.70M
Accumulated OCI	-70.97M	-72.71M	-60.40M	-66.08M	-55.43M	-55.81M	-40.65M	-60.21M	-84.42M	-100.11M	-81.24M	-71.42M	-53.03M	-45.48M	-58.29M	-59.85M	-34.15M	0.00M	0.00M	0.00M	-0.21M	-1.12M	0.00M	0.00M	7.54M	-20.87M	38.76M	21.39M	13.35M	-9.40M	-7.33M
Minority Interest	85.60M	10.48M	5.71M	3.20M	3.48M	6.49M	6.72M	8.76M	6.66M	4.47M	2.57M	2.71M	3.49M	4.63M	0.78M	1.69M	1.06M	1.25M	0.27M	0.22M	0.13M	0.22M	0.87M	1.25M	30.50M	0.00M	0.00M	0.00M	0.53M	0.63M	0.60M
Total Shareholders’ Equity	3,272.77M	1,172.09M	843.49M	737.81M	687.07M	620.14M	662.63M	562.18M	427.46M	342.79M	310.18M	279.52M	307.50M	259.23M	56.47M	73.20M	253.57M	108.10M	337.24M	270.61M	242.84M	73.28M	89.06M	75.86M	2,531.51M	1,580.17M	1,376.63M	954.26M	882.23M	739.60M	653.93M
Total Equity	3,358.38M	1,182.57M	849.20M	741.01M	690.55M	626.63M	669.35M	570.93M	434.11M	347.25M	312.75M	282.23M	311.00M	263.86M	57.24M	74.89M	254.63M	109.35M	337.50M	270.83M	242.97M	73.50M	89.93M	77.12M	2,562.01M	1,580.17M	1,376.63M	954.26M	882.76M	740.23M	654.53M
Total Liabilities & Equity	6,396.74M	2,686.84M	2,115.95M	1,891.16M	1,836.76M	1,738.35M	1,753.50M	1,518.09M	1,202.39M	1,043.45M	835.98M	864.02M	891.89M	820.97M	471.98M	609.29M	625.95M	487.93M	611.32M	575.58M	532.03M	449.99M	513.67M	505.07M	7,999.94M	5,000.66M	4,522.71M	3,825.79M	3,617.66M	3,422.97M	2,212.23M
Tangible Assets	4,083.98M	1,963.47M	1,606.25M	1,428.76M	1,318.00M	1,216.10M	1,184.73M	1,137.34M	1,075.41M	1,008.16M	875.77M	1,033.04M	1,002.43M	955.71M	779.51M	804.18M	695.80M	627.36M	682.60M	604.19M	595.26M	777.36M	766.86M	718.55M	5,874.51M	3,823.49M	3,600.52M	3,035.52M	2,761.83M	2,131.90M	1,668.43M
Tangible Equity	97.23M	276.40M	288.64M	229.20M	208.44M	183.65M	165.48M	134.51M	64.09M	46.12M	43.44M	-16.23M	46.56M	47.40M	-126.56M	-170.51M	115.19M	41.85M	276.13M	213.33M	188.56M	30.03M	23.43M	-9.67M	-12.83M	362.76M	374.33M	-159.06M	-566.16M	-806.47M	21.37M
Tangible Book Value	97.23M	276.40M	288.64M	229.20M	208.44M	183.65M	165.48M	134.51M	64.09M	46.12M	43.44M	-16.23M	46.56M	47.40M	-126.56M	-170.51M	115.19M	41.85M	276.13M	213.33M	188.56M	30.03M	23.43M	-9.67M	-12.83M	362.76M	374.33M	-159.06M	-566.16M	-806.47M	21.37M
Total Investments	135.83M	63.92M	61.51M	35.01M	39.89M	38.88M	26.48M	19.56M	18.23M	18.38M	5.98M	4.07M	3.82M	6.22M	4.45M	3.37M	7.25M	10.08M	4.62M	1.73M	4.30M	4.88M	6.37M	5.25M	-86.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Debt	822.42M	409.88M	364.57M	344.76M	215.03M	215.12M	263.95M	183.23M	65.29M	36.57M	7.76M	3.37M	18.79M	38.26M	-66.44M	-76.49M	-120.83M	-3.98M	-49.29M	-3.48M	9.98M	-57.39M	8.22M	18.19M	2,279.48M	1,101.80M	1,061.27M	1,105.88M	973.66M	1,177.20M	516.60M

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	930.45M	677.82M	689.88M	495.02M	363.55M	436.89M	354.68M	347.54M	356.31M	322.74M	367.47M	322.79M	319.38M	325.42M	317.05M	260.45M	190.07M	228.59M	252.92M	200.44M	238.89M	265.17M	277.23M	272.40M	1,065.82M	978.66M	736.37M	694.00M	546.46M	232.63M	329.67M
Total Capital	5,865.01M	2,142.50M	1,889.10M	1,556.42M	1,582.29M	1,327.76M	1,151.48M	1,035.67M	1,009.02M	901.09M	786.96M	747.76M	786.55M	574.12M	466.52M	597.74M	502.79M	445.82M	546.49M	486.20M	432.90M	401.49M	486.59M	450.00M	5,078.31M	3,043.37M	2,763.42M	2,550.22M	2,308.98M	2,190.37M	1,270.03M
Capital Employed	6,313.93M	2,600.58M	2,157.26M	1,975.97M	1,758.83M	1,708.00M	1,562.69M	1,412.19M	1,348.74M	1,222.58M	1,328.47M	1,146.29M	1,070.71M	1,003.78M	756.05M	935.63M	653.02M	680.56M	708.31M	592.80M	596.17M	506.91M	624.74M	559.76M	5,719.67M	3,257.57M	2,923.83M	2,713.40M	2,589.10M	2,687.70M	1,607.80M
Invested Capital	5,322.01M	1,759.08M	1,551.21M	1,288.58M	1,273.88M	1,004.79M	924.33M	840.64M	796.25M	698.37M	624.34M	544.26M	597.74M	380.43M	303.32M	441.94M	356.36M	381.80M	435.68M	411.67M	359.85M	281.25M	407.05M	372.21M	4,793.33M	2,753.52M	2,511.26M	2,380.60M	2,163.24M	2,170.10M	1,258.30M

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	159.95M	99.50M	60.38M	58.44M	63.64M	65.01M	58.18M	44.03M	43.99M	43.34M	38.37M	41.60M	49.90M	51.16M	28.29M	37.38M	36.63M	29.61M	28.97M	26.08M	25.66M	29.17M	37.07M	33.67M	215.75M	141.16M	139.89M	132.77M	137.15M	133.87M	104.97M
Deferred Income Tax	26.71M	-4.79M	-2.96M	-22.29M	-0.01M	-1.44M	-2.28M	1.99M	-1.04M	2.96M	0.18M	1.05M	-0.09M	-0.61M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	77.76M	118.80M	79.74M	49.07M	57.60M	44.80M	24.63M
Stock-Based Compensation	6.10M	0.39M	8.64M	8.26M	7.87M	5.06M	4.83M	3.71M	3.81M	3.22M	1.61M	1.72M	1.45M	2.72M	3.12M	0.50M	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
Change in Working Capital	-27.58M	-3.61M	-10.92M	-61.06M	-19.13M	17.22M	-8.35M	-46.30M	-9.05M	4.41M	-2.97M	-4.80M	-9.97M	0.98M	-7.49M	-0.27M	35.97M	-16.08M	-3.77M	-3.85M	3.38M	1.87M	4.26M	15.24M	-151.88M	-32.61M	222.60M	-174.36M	-99.60M	-57.93M	62.33M
Accounts Receivable	-16.30M	-4.81M	-1.64M	-40.66M	-23.62M	8.84M	-0.56M	-11.86M	-13.82M	-2.93M	-6.16M	-5.57M	-4.98M	0.29M	0.00M	0.00M	0.00M	0.00M	0.00M	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	-11.45M	-7.89M	3.22M	-50.19M	-28.59M	9.91M	-6.47M	-25.66M	-6.71M	-6.08M	2.29M	-8.39M	-5.13M	0.21M	-13.42M	-4.64M	25.19M	-5.81M	-6.55M	-4.31M	-3.00M	-0.89M	4.35M	-6.54M	-129.36M	-92.02M	-51.78M	-74.85M	-175.24M	-2.03M	140.13M
Accounts Payable	-17.97M	-0.46M	-0.62M	17.71M	22.92M	1.58M	-0.68M	13.85M	6.31M	0.48M	1.01M	0.00M	0.00M	0.00M	0.00M	2.18M	0.00M	0.00M	0.00M	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	40.92M	-0.29M	-12.73M	8.73M	14.21M	-0.40M	5.32M	-5.51M	2.96M	4.24M	-4.08M	3.55M	3.79M	0.47M	0.23M	4.79M	-6.21M	-1.05M	5.24M	0.17M	4.33M	4.90M	16.15M	11.51M	-22.51M	59.41M	274.38M	-99.51M	75.64M	-55.90M	-77.80M
Other Non-Cash Items	33.41M	2.26M	6.73M	27.47M	11.47M	11.23M	23.59M	17.95M	11.47M	10.50M	7.90M	1.86M	-0.62M	4.41M	0.43M	2.78M	-3.33M	4.02M	-10.80M	-0.60M	-7.86M	1.44M	-0.75M	-1.21M	43.33M	17.39M	7.95M	8.80M	1.37M	3.27M	-18.80M
Net Cash from Operating Activities	461.34M	244.71M	272.66M	178.56M	185.63M	161.12M	144.29M	130.61M	168.65M	132.42M	145.79M	143.34M	124.67M	140.96M	50.90M	99.81M	87.69M	40.98M	86.44M	70.93M	57.64M	61.84M	65.72M	58.71M	357.48M	414.58M	608.46M	132.33M	285.05M	277.03M	307.40M
Capital Expenditures (PPE)	-80.56M	-48.35M	-61.73M	-67.69M	-49.32M	-43.13M	-65.40M	-63.24M	-45.78M	-47.85M	-44.10M	-46.88M	-47.26M	-50.13M	-29.46M	-34.74M	-30.40M	-35.58M	-24.94M	-19.95M	-16.39M	-14.43M	-27.12M	-28.13M	-162.03M	-135.52M	-306.40M	-130.54M	-132.75M	-83.10M	-55.93M
Acquisitions (Net)	-34.08M	-18.25M	-8.52M	-17.07M	-24.60M	-5.30M	-8.33M	-19.39M	-33.51M	-50.41M	-5.62M	-15.67M	-9.28M	-1.92M	-0.96M	-2.47M	-1.60M	-3.81M	-1.50M	-1.41M	-9.47M	0.42M	1.68M	-1.99M	-789.24M	-130.48M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	-5.19M	-3.31M	-0.57M	-4.39M	-4.87M	-4.14M	-3.59M	-1.52M	-1.14M	-1.03M	-0.31M	-0.03M	-0.04M	-0.15M	-0.03M	-0.06M	-0.06M	-0.04M	-0.36M	-0.84M	-0.39M	-0.14M	-0.58M	-1.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	1.34M	1.13M	0.96M	4.57M	1.40M	3.97M	0.43M	0.55M	1.82M	1.27M	0.36M	0.17M	0.01M	0.80M	0.68M	0.04M	0.00M	0.00M	0.78M	2.19M	0.24M	0.57M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.43M
Other Investing Activities	-10.52M	-0.96M	0.22M	0.05M	0.68M	-1.21M	-1.51M	3.44M	1.64M	1.38M	-1.01M	-0.01M	2.29M	-1.35M	1.05M	1.98M	4.45M	4.28M	-1.30M	1.88M	4.31M	4.43M	15.16M	9.30M	-157.36M	-83.46M	-205.50M	-104.27M	-12.81M	-942.60M	-7.50M
Net Cash from Investing Activities	-174.20M	-116.65M	-88.23M	-102.68M	-82.49M	-65.81M	-100.65M	-114.57M	-124.04M	-109.49M	-76.49M	-93.72M	-88.57M	-67.23M	-53.12M	-46.32M	-35.79M	-49.09M	-26.95M	-14.33M	-18.77M	-4.80M	5.40M	-24.88M	-1,108.62M	-349.45M	-511.91M	-234.81M	-145.56M	-1,025.70M	-63.00M
Net Debt Issuance	-14.88M	22.64M	-8.81M	7.64M	-7.03M	70.35M	1.86M	4.65M	9.60M	19.39M	-4.32M	-1.12M	-1.54M	-7.54M	-4.40M	6.70M	8.65M	3.65M	-2.16M	-6.08M	-6.06M	-9.46M	-7.94M	20.52M	686.12M	35.70M	39.51M	128.93M	-63.00M	669.47M	-172.20M
Long-Term Debt Issuance	-5.72M	37.63M	-6.06M	11.68M	-3.82M	46.03M	2.82M	4.64M	11.80M	14.71M	-0.18M	0.10M	0.07M	-3.31M	-4.61M	3.86M	9.64M	5.37M	1.17M	-6.00M	-9.10M	-4.26M	-9.30M	19.00M	686.12M	35.70M	39.51M	128.93M	-63.00M	669.47M	-172.20M
Short-Term Debt Issuance	-6.60M	-8.93M	0.00M	0.33M	0.00M	-3.71M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.06M	0.00M	0.00M	0.36M	0.00M	0.00M	0.00M	-3.84M	3.16M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-45.59M	-6.10M	-2.38M	-6.12M	-1.10M	-1.55M	-1.86M	-1.84M	1.19M	-0.59M	-0.41M	-0.40M	-0.31M	-0.67M	-1.05M	-0.74M	-0.09M	-7.37M	-4.54M	-2.79M	0.23M	11.02M	0.06M	2.53M	172.02M	-1.11M	5.82M	26.49M	9.01M	165.90M	-53.83M
Common Stock Issuance	0.18M	0.11M	0.13M	0.97M	1.41M	0.01M	0.29M	0.94M	8.44M	2.65M	0.75M	2.27M	2.49M	0.77M	1.09M	1.24M	0.77M	0.95M	6.23M	0.64M	0.79M	0.87M	0.61M	1.10M	211.70M	8.66M	9.54M	52.85M	18.21M	172.30M	6.97M
Common Stock Repurchased	-47.30M	-8.08M	-4.84M	-7.25M	-3.51M	-2.19M	-1.83M	-3.61M	-1.66M	-1.39M	-1.65M	-0.96M	-0.55M	-1.18M	-4.13M	-2.40M	-0.63M	-10.83M	-10.96M	-2.79M	0.00M	-1.33M	-0.29M	0.00M	-39.66M	-9.77M	-3.75M	-26.36M	-9.20M	-6.40M	-59.80M
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	-78.26M	-58.36M	-36.81M	-42.38M	-36.40M	-35.77M	-35.23M	-28.42M	-23.33M	-30.93M	-15.99M	-17.03M	-27.51M	-21.81M	-7.48M	-5.49M	-10.93M	-15.32M	-9.04M	-7.97M	-6.28M	-7.46M	-11.87M	-7.83M	-77.96M	-63.58M	-56.98M	-54.97M	-47.54M	-43.77M	-14.70M
Common Dividends Paid	-77.36M	-56.89M	-36.50M	-41.77M	-33.61M	-35.31M	-34.69M	-27.90M	-22.82M	-22.89M	-15.66M	-13.38M	-15.44M	-16.18M	-9.08M	-5.68M	-10.93M	-15.97M	-10.23M	-8.58M	-6.67M	-7.92M	-11.75M	-7.83M	-77.96M	-63.58M	-56.96M	-54.97M	-47.54M	-44.43M	-14.70M
Preferred Dividends Paid	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Financing Activities	-15.71M	-11.46M	-7.45M	-4.30M	-9.50M	-2.60M	-0.77M	-1.22M	3.80M	-7.28M	-2.31M	0.32M	1.55M	-1.23M	0.16M	-0.01M	-0.79M	1.19M	0.16M	3.69M	0.19M	-4.69M	-14.37M	-1.05M	-12.77M	-0.06M	-6.05M	-6.62M	0.95M	-33.77M	-0.73M
Net Cash from Financing Activities	-338.23M	-54.02M	-96.08M	-41.07M	-30.69M	8.11M	-45.59M	-4.80M	7.40M	-7.01M	-61.28M	-39.31M	-25.94M	-34.95M	-6.58M	-12.56M	-2.36M	-5.66M	-11.16M	-15.25M	-9.81M	-9.80M	-17.96M	27.00M	767.42M	-29.05M	-17.68M	93.83M	-100.58M	757.17M	-241.47M
Effect of FX on Cash	-2.98M	0.10M	-3.60M	-1.71M	0.74M	-2.08M	-0.37M	-0.98M	1.32M	-0.69M	-1.08M	-0.09M	-0.34M	-0.35M	-0.62M	-0.95M	0.41M	-1.61M	0.09M	0.03M	0.58M	-0.13M	1.19M	-0.12M	-14.57M	-7.15M	9.52M	-1.45M	-155.35M	748.67M	-210.60M
Net Change in Cash	39.87M	38.44M	24.15M	-49.15M	-24.25M	95.51M	12.20M	-4.66M	23.84M	13.18M	-4.33M	-2.52M	8.18M	13.99M	8.50M	9.06M	59.06M	4.92M	5.24M	15.23M	1.90M	18.60M	-8.22M	-5.08M	1.70M	28.92M	88.39M	-10.13M	-116.44M	757.17M	-207.67M
Cash at Beginning of Period	288.33M	343.97M	280.35M	295.33M	322.20M	227.12M	195.05M	212.80M	200.33M	216.14M	196.23M	183.19M	170.23M	173.39M	146.66M	140.14M	108.00M	106.95M	77.01M	89.37M	59.32M	70.98M	82.61M	99.70M	283.28M	260.93M	163.77M	137.00M	107.14M	11.73M	8.90M
Cash at End of Period	543.00M	382.89M	336.83M	267.12M	308.10M	322.27M	228.28M	193.26M	212.80M	203.58M	162.13M	203.10M	188.27M	186.79M	162.32M	152.39M	172.40M	63.16M	113.63M	84.58M	94.23M	128.76M	81.84M	80.77M	284.98M	289.86M	252.16M	126.87M	-9.30M	768.90M	-198.77M
Operating Cash Flow	459.86M	244.71M	272.66M	178.56M	185.63M	161.12M	144.29M	130.61M	168.65M	132.42M	145.79M	143.34M	124.67M	140.96M	50.90M	99.81M	87.69M	40.98M	86.44M	70.93M	57.64M	61.84M	65.72M	58.71M	357.48M	414.58M	608.46M	132.33M	285.05M	277.03M	307.40M
Capital Expenditure	-103.80M	-69.36M	-64.06M	-67.69M	-49.32M	-43.13M	-65.40M	-63.24M	-45.78M	-47.85M	-44.10M	-46.88M	-47.26M	-50.13M	-29.46M	-34.74M	-30.40M	-35.51M	-24.78M	-19.86M	-16.30M	-14.39M	-27.12M	-28.13M	-162.03M	-135.52M	-306.40M	-130.54M	-132.75M	-83.10M	-55.93M
Free Cash Flow	378.20M	174.37M	180.96M	101.48M	130.51M	130.49M	100.49M	80.60M	107.32M	95.65M	101.57M	65.54M	53.69M	62.12M	23.35M	31.90M	52.65M	11.62M	57.84M	46.85M	38.11M	49.93M	23.49M	34.24M	195.45M	279.07M	302.06M	1.79M	152.30M	193.93M	251.47M

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	592.42M	370.35M	287.96M	245.91M	254.57M	153.87M	223.25M	239.36M	188.33M	176.01M	161.74M	201.11M	223.08M	199.95M	115.48M	106.69M	88.76M	81.75M	145.89M	108.50M	89.41M	87.45M	90.80M	96.55M	659.71M	616.04M	527.68M	424.96M	511.97M	425.87M	344.23M
(-) Tax Adjustment	139.35M	75.52M	53.70M	53.12M	43.97M	32.14M	48.24M	47.25M	46.21M	61.07M	52.06M	60.44M	81.61M	55.80M	36.08M	32.25M	32.31M	31.30M	51.01M	38.42M	33.47M	90.13M	37.52M	23.50M	234.21M	216.44M	187.89M	159.26M	185.04M	163.02M	129.97M
(-) Change In Working Capital	-27.58M	-3.61M	-10.92M	-61.06M	-19.13M	17.22M	-8.35M	-46.30M	-9.05M	4.41M	-2.97M	-4.80M	-9.97M	0.98M	-7.49M	-0.27M	35.97M	-16.08M	-3.77M	-3.85M	3.38M	1.87M	4.26M	15.24M	-151.88M	-32.61M	222.60M	-174.36M	-99.60M	-57.93M	62.33M
(-) Capital Expenditure	103.80M	69.36M	64.06M	67.69M	49.32M	43.13M	65.40M	63.24M	45.78M	47.85M	44.10M	46.88M	47.26M	50.13M	29.46M	34.74M	30.40M	35.51M	24.78M	19.86M	16.30M	14.39M	27.12M	28.13M	162.03M	135.52M	306.40M	130.54M	132.75M	83.10M	55.93M
Unlevered Free Cash Flow	376.85M	229.08M	181.13M	186.15M	180.41M	61.38M	117.95M	175.17M	105.40M	62.69M	68.53M	98.60M	104.19M	93.04M	57.43M	39.97M	-9.91M	31.02M	73.88M	54.07M	36.27M	-18.93M	21.91M	29.67M	415.35M	296.69M	-189.21M	309.52M	293.78M	237.68M	96.00M
(-) Net Interest Income After Taxes	-34.50M	-20.91M	-18.62M	-10.32M	-13.18M	-11.90M	-12.41M	-2.82M	-3.77M	-1.25M	-3.04M	-2.52M	-3.03M	-3.63M	-8.98M	-8.27M	-7.39M	-5.15M	-1.84M	-1.40M	-3.90M	0.03M	-1.02M	-2.25M	-7.36M	-8.12M	-3.23M	-6.76M	-13.80M	0.00M	0.00M
Net Debt Issuance	-14.88M	22.64M	-8.81M	7.64M	-7.03M	70.35M	1.86M	4.65M	9.60M	19.39M	-4.32M	-1.12M	-1.54M	-7.54M	-4.40M	6.70M	8.65M	3.65M	-2.16M	-6.08M	-6.06M	-9.46M	-7.94M	20.52M	686.12M	35.70M	39.51M	128.93M	-63.00M	669.47M	-172.20M
Levered Free Cash Flow	396.46M	272.63M	190.94M	204.12M	186.57M	143.63M	132.22M	182.64M	118.77M	83.33M	67.26M	99.99M	105.67M	89.13M	62.01M	54.94M	6.13M	39.82M	73.56M	49.39M	34.11M	-28.42M	14.99M	52.44M	1,108.84M	340.51M	-146.47M	445.21M	244.57M	907.15M	-76.20M