Oil & Gas Equipment & Services

Category: Industry Averages Base Ticker: 0K58.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	11.83	10.26	8.34	7.99	6.20	5.56	9.13	8.62	12.33	14.10	10.51	12.65	12.90	11.11	8.61	8.72	7.85	6.56	13.93	13.07	13.77	9.60	10.08	9.15	10.72	11.56	10.81	9.99	11.60	11.26	9.54
Market Capitalization	1,572.52M	1,260.84M	996.25M	976.68M	730.00M	573.65M	815.03M	802.69M	967.63M	1,119.12M	962.35M	1,023.92M	1,298.62M	1,034.21M	661.08M	543.48M	424.90M	322.53M	743.01M	602.42M	555.12M	425.24M	413.70M	434.79M	390.58M	425.47M	361.89M	391.38M	461.89M	401.60M	853.21M
(-) Cash & Equivalents	228.94M	146.20M	143.15M	133.01M	134.34M	135.83M	126.00M	118.73M	146.88M	149.95M	112.47M	118.49M	82.42M	66.31M	46.93M	52.16M	33.84M	21.88M	27.70M	28.14M	29.19M	44.08M	44.63M	44.98M	29.09M	31.71M	26.06M	23.93M	59.57M	26.61M	27.62M
(+) Total Debt	444.35M	357.90M	335.33M	304.41M	300.67M	298.99M	325.98M	294.26M	264.45M	266.37M	289.95M	252.64M	224.84M	153.26M	105.16M	92.38M	94.97M	97.61M	83.71M	80.45M	69.39M	71.88M	177.87M	185.12M	144.38M	136.85M	100.59M	121.39M	130.72M	79.09M	69.58M
Enterprise Value	1,936.88M	1,502.89M	1,310.91M	1,330.97M	1,083.75M	934.09M	1,255.51M	1,049.61M	1,339.92M	1,401.46M	1,302.41M	1,493.09M	1,600.27M	1,223.73M	833.09M	625.13M	470.62M	350.61M	653.51M	599.13M	636.04M	484.92M	554.54M	704.85M	505.33M	546.84M	439.54M	489.90M	557.51M	460.33M	896.24M

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	1,107.874M	1,024.240M	913.674M	892.040M	695.090M	688.355M	869.918M	784.501M	720.882M	704.802M	898.415M	1,058.343M	842.119M	729.233M	411.881M	337.488M	256.212M	315.552M	319.658M	276.457M	346.277M	299.550M	354.286M	354.121M	356.991M	241.451M	240.404M	334.348M	363.987M	214.721M	173.637M
Cost of Revenue	754.002M	742.837M	709.278M	676.294M	589.789M	592.129M	712.917M	622.877M	529.357M	497.353M	656.749M	690.344M	547.310M	519.387M	311.725M	241.569M	189.246M	217.424M	224.470M	196.105M	200.985M	185.630M	225.846M	208.156M	228.090M	148.909M	181.732M	153.259M	169.295M	134.651M	110.299M
Gross Profit	353.872M	281.403M	204.396M	215.746M	105.302M	96.226M	157.001M	161.624M	191.526M	207.449M	241.665M	367.999M	294.809M	209.845M	100.156M	95.919M	66.966M	98.128M	95.188M	80.352M	145.293M	113.920M	128.440M	145.965M	128.901M	92.542M	58.672M	181.090M	194.692M	80.069M	63.338M
Gross Margin	31.94%	27.47%	22.37%	24.19%	15.15%	13.98%	18.05%	20.60%	26.57%	29.43%	26.90%	34.77%	35.01%	28.78%	24.32%	28.42%	26.14%	31.10%	29.78%	29.06%	41.96%	38.03%	36.25%	41.22%	36.11%	38.33%	24.41%	54.16%	53.49%	37.29%	36.48%
R&D Expenses	2.157M	3.068M	3.926M	3.092M	2.886M	4.270M	3.697M	3.312M	3.667M	3.460M	4.052M	2.657M	2.363M	0.916M	0.105M	0.000M	0.000M	0.000M	0.000M	0.000M	0.113M	0.216M	0.011M	1.074M	0.008M	0.005M	1.329M	0.001M	0.517M	0.060M	0.000M
SG&A Expenses	92.570M	79.988M	79.374M	70.484M	63.864M	67.150M	79.375M	76.769M	71.774M	72.725M	86.167M	85.265M	69.248M	58.639M	34.330M	25.515M	23.153M	22.083M	23.244M	17.826M	24.016M	23.400M	27.932M	36.646M	29.133M	18.784M	34.013M	22.310M	30.041M	21.976M	21.776M
Operating Expenses	94.727M	83.056M	83.300M	73.576M	66.750M	71.420M	83.071M	80.080M	75.441M	76.185M	90.219M	87.922M	71.611M	59.554M	34.435M	25.515M	23.153M	22.083M	23.244M	17.826M	24.129M	23.616M	27.942M	37.720M	29.140M	18.789M	35.341M	22.311M	30.557M	22.036M	21.776M
Operating Income	259.145M	198.347M	121.096M	142.170M	38.552M	24.806M	73.930M	81.543M	116.084M	131.264M	151.446M	280.077M	223.199M	150.291M	65.720M	70.405M	43.813M	76.045M	71.943M	62.526M	121.164M	90.305M	100.498M	108.245M	99.761M	73.753M	23.330M	158.778M	164.135M	58.034M	41.562M
Operating Margin	23.39%	19.37%	13.25%	15.94%	5.55%	3.60%	8.50%	10.39%	16.10%	18.62%	16.86%	26.46%	26.50%	20.61%	15.96%	20.86%	17.10%	24.10%	22.51%	22.62%	34.99%	30.15%	28.37%	30.57%	27.94%	30.55%	9.70%	47.49%	45.09%	27.03%	23.94%
Interest Income	2.656M	3.602M	2.941M	2.777M	1.313M	1.826M	3.135M	2.383M	2.038M	1.974M	1.208M	1.476M	0.802M	0.863M	0.557M	0.284M	0.143M	0.351M	0.266M	0.049M	0.069M	0.072M	0.009M	0.043M	0.010M	0.000M	0.000M	0.000M	0.000M	0.000M	0.000M
Interest Expense	26.376M	19.242M	21.696M	18.125M	16.846M	21.872M	20.198M	19.051M	13.849M	16.307M	13.969M	10.518M	9.049M	7.433M	6.587M	6.022M	5.163M	5.577M	2.479M	1.552M	1.695M	1.336M	4.808M	6.613M	5.790M	1.217M	0.039M	0.153M	0.000M	0.426M	0.187M
Net Interest Income	-23.720M	-15.639M	-18.755M	-15.347M	-15.533M	-20.047M	-17.063M	-16.667M	-11.811M	-14.333M	-12.761M	-9.042M	-8.248M	-6.570M	-6.031M	-5.737M	-5.021M	-5.226M	-2.213M	-1.503M	-1.626M	-1.265M	-4.799M	-6.570M	-5.780M	-1.217M	-0.039M	-0.153M	0.000M	-0.426M	-0.187M
Other Income / Expense	-134.138M	-93.345M	-26.157M	-69.189M	-26.083M	-70.669M	-52.541M	-50.821M	-104.377M	-157.542M	-157.778M	-204.093M	-135.670M	-79.697M	-17.775M	-36.173M	-14.765M	-42.116M	-23.241M	-4.846M	-72.217M	-53.449M	-72.618M	-87.389M	-69.326M	-57.709M	-13.788M	-131.106M	-59.883M	-10.375M	-19.190M
Pre-Tax Income	101.287M	89.363M	76.184M	57.633M	-3.063M	-65.910M	4.326M	14.055M	-0.104M	-40.611M	-19.092M	66.942M	79.281M	64.024M	41.914M	28.494M	24.027M	28.703M	46.490M	56.177M	47.321M	35.591M	23.081M	14.286M	24.655M	14.828M	9.504M	27.519M	104.252M	47.233M	22.184M
Pre-Tax Margin	9.14%	8.72%	8.34%	6.46%	-0.44%	-9.57%	0.50%	1.79%	-0.01%	-5.76%	-2.13%	6.33%	9.41%	8.78%	10.18%	8.44%	9.38%	9.10%	14.54%	20.32%	13.67%	11.88%	6.51%	4.03%	6.91%	6.14%	3.95%	8.23%	28.64%	22.00%	12.78%
Income Tax Expense	23.074M	17.753M	15.861M	14.750M	8.065M	2.762M	9.834M	10.626M	9.060M	2.411M	8.725M	25.081M	23.223M	16.720M	10.826M	6.739M	3.895M	8.455M	11.778M	13.735M	9.002M	6.614M	7.090M	7.485M	11.968M	6.050M	3.122M	12.520M	36.396M	6.357M	5.143M
Tax Rate	22.78%	19.87%	20.82%	25.59%	0.00%	0.00%	35.00%	35.00%	0.00%	0.00%	0.00%	35.00%	29.29%	26.11%	25.83%	23.65%	16.21%	29.46%	25.34%	24.45%	19.02%	18.58%	30.72%	35.00%	35.00%	35.00%	32.85%	35.00%	34.91%	13.46%	23.18%
Net Income	78.212M	71.610M	60.323M	42.883M	-11.128M	-68.672M	-5.508M	3.429M	-9.164M	-43.022M	-27.817M	41.861M	56.058M	47.304M	31.088M	21.755M	20.133M	20.248M	34.711M	42.442M	38.319M	28.978M	15.991M	6.801M	12.687M	8.777M	6.382M	14.999M	67.856M	40.877M	17.042M
Net Margin	7.06%	6.99%	6.60%	4.81%	-1.60%	-9.98%	-0.63%	0.44%	-1.27%	-6.10%	-3.10%	3.96%	6.66%	6.49%	7.55%	6.45%	7.86%	6.42%	10.86%	15.35%	11.07%	9.67%	4.51%	1.92%	3.55%	3.64%	2.65%	4.49%	18.64%	19.04%	9.81%
EBIT	259.145M	198.347M	121.096M	142.170M	38.552M	24.806M	73.930M	81.543M	116.084M	131.264M	151.446M	280.077M	223.199M	150.291M	65.720M	70.405M	43.813M	76.045M	71.943M	62.526M	121.164M	90.305M	100.498M	108.245M	99.761M	73.753M	23.330M	158.778M	164.135M	58.034M	41.562M
Depreciation & Amortization	75.379M	65.543M	63.285M	63.273M	65.313M	71.029M	74.811M	66.936M	65.332M	71.522M	78.456M	62.260M	48.162M	37.576M	22.686M	22.165M	16.611M	21.359M	19.352M	15.314M	23.765M	27.267M	51.030M	49.839M	43.867M	27.555M	26.963M	28.367M	36.808M	25.260M	20.416M
EBITDA	334.524M	263.891M	184.381M	205.443M	103.865M	95.834M	148.740M	148.479M	181.416M	202.786M	229.902M	342.337M	271.361M	187.867M	88.406M	92.570M	60.425M	97.404M	91.295M	77.840M	144.928M	117.572M	151.528M	158.084M	143.628M	101.308M	50.293M	187.145M	200.942M	83.293M	61.978M
EBITDA Margin	30.20%	25.76%	20.18%	23.03%	14.94%	13.92%	17.10%	18.93%	25.17%	28.77%	25.59%	32.35%	32.22%	25.76%	21.46%	27.43%	23.58%	30.87%	28.56%	28.16%	41.85%	39.25%	42.77%	44.64%	40.23%	41.96%	20.92%	55.97%	55.21%	38.79%	35.69%
NOPAT	200.109M	158.944M	95.884M	105.784M	38.552M	24.806M	48.054M	53.003M	116.084M	131.264M	151.446M	182.050M	157.819M	111.043M	48.745M	53.753M	36.711M	53.644M	53.716M	47.239M	98.115M	73.524M	69.625M	70.359M	64.844M	47.940M	15.666M	103.206M	106.833M	50.223M	31.927M
NOPAT Margin	18.06%	15.52%	10.49%	11.86%	5.55%	3.60%	5.52%	6.76%	16.10%	18.62%	16.86%	17.20%	18.74%	15.23%	11.83%	15.93%	14.33%	17.00%	16.80%	17.09%	28.33%	24.54%	19.65%	19.87%	18.16%	19.85%	6.52%	30.87%	29.35%	23.39%	18.39%
Owner's Earnings	153.591M	137.154M	123.608M	106.156M	54.185M	2.357M	69.303M	70.364M	56.168M	28.500M	50.639M	104.121M	104.220M	84.880M	53.774M	43.920M	36.744M	41.607M	54.063M	57.756M	62.083M	56.245M	67.021M	56.641M	56.554M	36.332M	33.344M	43.365M	104.663M	66.136M	37.458M
Owner's Earnings Margin	13.86%	13.39%	13.53%	11.90%	7.80%	0.34%	7.97%	8.97%	7.79%	4.04%	5.64%	9.84%	12.38%	11.64%	13.06%	13.01%	14.34%	13.19%	16.91%	20.89%	17.93%	18.78%	18.92%	15.99%	15.84%	15.05%	13.87%	12.97%	28.75%	30.80%	21.57%
EPS	0.22	0.17	0.15	0.10	-0.03	-0.18	-0.02	0.01	-0.03	-0.13	-0.09	0.14	0.18	0.16	0.11	0.09	0.09	0.10	0.23	0.30	0.35	0.34	0.19	0.08	0.16	0.11	0.07	0.18	0.77	0.47	0.11
EPS (Diluted)	0.22	0.17	0.15	0.10	-0.03	-0.18	-0.02	0.01	-0.03	-0.13	-0.09	0.14	0.18	0.16	0.11	0.09	0.09	0.10	0.23	0.30	0.35	0.34	0.19	0.08	0.16	0.11	0.07	0.18	0.77	0.47	0.11
Shares (Diluted)	354,533,030	411,165,036	410,809,401	411,211,182	400,738,449	382,877,618	340,775,772	356,076,557	339,265,408	327,301,688	300,972,856	304,760,404	312,622,433	290,935,994	271,817,105	243,071,957	231,849,330	199,521,477	152,958,837	143,431,006	109,300,363	85,544,653	84,616,404	86,180,489	79,828,597	76,969,277	89,856,594	82,180,267	88,491,702	86,745,380	161,391,273

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	184.99M	146.20M	143.15M	133.01M	134.34M	135.91M	126.00M	118.73M	146.88M	151.35M	112.47M	120.91M	82.42M	66.90M	47.89M	52.67M	34.18M	28.89M	27.70M	28.52M	29.73M	44.08M	44.63M	44.98M	29.09M	31.71M	27.07M	25.08M	59.45M	26.61M	27.62M
Short-Term Investments	9.51M	6.05M	11.73M	14.98M	9.46M	8.58M	8.91M	15.77M	2.43M	1.88M	18.85M	2.92M	5.35M	5.35M	6.00M	0.81M	0.88M	2.48M	0.50M	1.31M	0.49M	0.26M	0.05M	7.61M	0.20M	0.96M	0.45M	0.00M	0.26M	0.00M	1.00M
Cash & Short-Term Investments	194.50M	152.24M	154.88M	147.99M	143.81M	144.50M	134.91M	134.50M	149.32M	153.22M	131.33M	123.83M	87.77M	72.24M	53.89M	53.48M	35.06M	31.37M	28.20M	29.83M	30.22M	44.34M	44.67M	52.59M	29.29M	32.67M	27.52M	25.08M	59.71M	26.61M	28.62M
Net Receivables	255.62M	248.44M	208.50M	218.83M	191.01M	192.74M	212.05M	203.33M	189.77M	165.76M	228.47M	262.23M	237.70M	127.03M	83.39M	69.00M	46.78M	64.65M	49.46M	59.70M	65.31M	65.35M	64.05M	68.33M	61.32M	94.36M	42.84M	79.38M	98.52M	57.86M	45.81M
Inventory	113.81M	93.52M	91.56M	90.95M	74.57M	86.74M	95.54M	94.37M	90.02M	87.05M	95.55M	97.16M	91.26M	71.85M	44.15M	34.29M	33.01M	39.49M	36.50M	30.70M	25.20M	26.83M	30.52M	31.57M	36.03M	22.98M	33.18M	35.80M	34.23M	26.03M	33.18M
Other Current Assets	33.03M	26.65M	33.95M	34.69M	25.80M	28.14M	27.74M	39.13M	33.52M	42.14M	41.18M	44.47M	32.00M	25.69M	20.79M	9.02M	10.01M	14.66M	13.59M	9.93M	10.63M	10.33M	17.69M	26.80M	7.72M	11.30M	21.52M	11.27M	10.43M	8.44M	10.58M
Total Current Assets	596.96M	520.85M	488.88M	492.46M	435.19M	452.13M	470.24M	471.33M	462.62M	448.18M	496.53M	527.69M	448.73M	296.81M	202.22M	165.79M	124.86M	150.17M	127.75M	130.16M	131.36M	146.85M	156.92M	179.30M	134.36M	161.30M	125.06M	151.53M	202.89M	118.94M	118.21M
Property, Plant & Equipment	673.59M	538.18M	485.22M	443.27M	426.49M	508.54M	525.39M	578.86M	473.80M	495.13M	508.14M	513.29M	418.60M	338.98M	172.91M	171.92M	149.37M	168.96M	180.16M	137.19M	173.77M	185.03M	379.10M	398.58M	294.29M	268.29M	175.58M	262.64M	315.41M	253.06M	209.68M
Goodwill	39.05M	36.45M	28.65M	28.44M	27.52M	30.39M	65.89M	69.48M	60.30M	61.89M	60.40M	73.13M	78.83M	51.81M	21.02M	16.77M	17.34M	20.70M	22.47M	23.62M	2.48M	6.39M	0.00M	0.03M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Intangible Assets	61.71M	48.36M	39.06M	42.46M	38.99M	42.28M	42.46M	43.91M	31.56M	33.53M	35.55M	26.32M	24.65M	26.51M	12.80M	13.63M	5.69M	4.26M	4.75M	2.14M	6.33M	13.73M	47.11M	58.73M	52.59M	26.29M	35.15M	18.89M	26.50M	16.04M	10.79M
Long-Term Investments	28.47M	9.70M	17.63M	9.50M	12.70M	10.61M	10.73M	9.22M	13.84M	18.96M	13.29M	12.37M	11.87M	12.41M	0.89M	0.67M	0.36M	0.46M	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
Tax Assets	9.68M	12.69M	8.18M	11.97M	12.10M	11.12M	13.45M	12.83M	11.69M	15.95M	14.45M	7.32M	6.15M	4.53M	3.45M	1.92M	1.49M	3.35M	1.60M	1.98M	2.93M	2.38M	0.48M	1.46M	3.31M	3.98M	2.44M	0.00M	1.22M	0.00M	0.00M
Other Non-Current Assets	56.83M	41.54M	33.84M	33.38M	33.60M	21.86M	22.70M	12.59M	17.34M	12.22M	14.25M	18.62M	17.70M	12.83M	7.51M	6.07M	6.55M	4.20M	5.47M	4.70M	9.13M	13.21M	12.04M	13.77M	11.78M	17.69M	11.86M	11.22M	11.75M	15.71M	7.61M
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	869.33M	686.92M	612.59M	569.01M	551.40M	624.80M	680.62M	726.90M	608.53M	637.68M	646.07M	651.04M	557.79M	447.07M	218.58M	210.98M	180.81M	201.93M	214.46M	169.63M	194.64M	220.74M	438.73M	472.57M	361.97M	316.25M	225.03M	292.75M	354.87M	284.81M	228.07M
Total Assets	1,466.30M	1,207.78M	1,101.47M	1,061.47M	986.59M	1,076.93M	1,150.86M	1,198.23M	1,071.16M	1,085.86M	1,142.61M	1,178.73M	1,006.52M	743.87M	420.79M	376.78M	305.67M	352.10M	342.21M	299.79M	326.00M	367.59M	595.66M	651.87M	496.33M	477.56M	350.09M	444.27M	557.77M	403.75M	346.28M
Accounts Payable	160.30M	130.71M	131.67M	128.76M	100.01M	84.15M	103.16M	95.62M	86.45M	68.38M	84.38M	102.10M	78.43M	62.75M	43.28M	45.09M	31.82M	37.32M	26.51M	28.72M	27.18M	23.44M	23.19M	29.16M	29.16M	33.15M	23.00M	14.87M	14.60M	21.59M	18.39M
Short-Term Debt	51.68M	44.91M	49.29M	36.82M	32.24M	50.60M	46.45M	34.13M	46.63M	56.34M	41.44M	33.94M	31.97M	18.59M	15.04M	8.24M	11.82M	12.04M	9.19M	10.72M	6.67M	7.93M	8.46M	8.80M	9.92M	10.96M	6.76M	5.71M	4.29M	3.90M	3.84M
Tax Payables	0.41M	12.64M	13.47M	12.62M	9.23M	9.25M	7.08M	6.54M	5.79M	10.23M	7.49M	5.72M	3.55M	4.44M	1.87M	1.37M	1.20M	2.01M	0.61M	0.76M	0.42M	0.41M	0.32M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Revenue	19.74M	2.80M	7.67M	16.19M	17.20M	16.21M	11.75M	13.47M	14.22M	11.25M	11.61M	20.94M	12.82M	11.43M	4.94M	3.61M	4.78M	5.07M	6.74M	7.30M	4.39M	4.62M	2.84M	6.52M	2.95M	1.03M	0.00M	0.00M	0.00M	0.00M	0.00M
Other Current Liabilities	52.36M	63.07M	63.20M	60.05M	39.90M	43.84M	52.95M	66.06M	41.31M	50.28M	49.02M	48.23M	46.73M	41.51M	15.80M	19.30M	12.66M	14.21M	11.98M	17.54M	19.91M	11.12M	36.18M	35.38M	10.20M	26.36M	36.59M	43.26M	38.35M	33.63M	29.08M
Total Current Liabilities	284.49M	254.13M	265.30M	254.44M	198.56M	204.05M	221.39M	215.80M	194.40M	196.48M	193.95M	210.94M	173.49M	138.72M	80.93M	77.61M	62.28M	70.65M	55.04M	65.04M	58.57M	47.52M	71.00M	79.87M	52.23M	71.51M	66.35M	63.84M	57.24M	59.12M	51.31M
Long-Term Debt	253.53M	220.12M	189.69M	195.47M	213.84M	198.90M	250.38M	261.74M	219.45M	195.50M	241.29M	234.23M	178.33M	159.61M	83.30M	72.84M	79.33M	78.66M	65.61M	63.62M	62.94M	64.49M	163.11M	173.68M	127.73M	109.33M	80.29M	118.18M	120.24M	64.16M	57.09M
Capital Lease Obligations	23.91M	42.22M	34.15M	26.03M	25.02M	28.01M	24.81M	1.54M	0.65M	0.24M	0.28M	0.10M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.02M	0.01M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Deferred Tax Liabilities	15.95M	17.14M	12.99M	12.55M	6.97M	7.46M	10.25M	14.67M	10.97M	13.55M	16.35M	17.91M	18.70M	16.14M	10.58M	6.06M	4.12M	5.55M	4.30M	2.80M	7.97M	1.93M	5.03M	4.89M	2.12M	2.23M	1.05M	0.61M	0.78M	1.56M	1.08M
Other Non-Current Liabilities	34.38M	33.00M	29.16M	30.55M	24.45M	28.79M	23.18M	25.84M	23.23M	30.59M	39.52M	24.51M	11.31M	8.26M	6.98M	11.59M	2.29M	11.09M	4.21M	11.27M	13.29M	18.82M	29.03M	28.80M	24.00M	44.01M	9.86M	8.32M	11.36M	24.96M	13.71M
Total Non-Current Liabilities	327.77M	312.48M	266.00M	264.60M	270.27M	263.16M	308.62M	303.78M	254.30M	239.88M	297.44M	276.76M	208.35M	184.01M	100.86M	90.49M	85.74M	95.30M	74.13M	77.70M	84.20M	85.24M	197.17M	207.38M	153.87M	155.57M	91.21M	127.11M	132.38M	90.68M	71.88M
Total Liabilities	612.27M	566.62M	531.31M	519.05M	468.84M	467.21M	530.01M	519.58M	448.70M	436.36M	491.39M	487.70M	381.84M	322.73M	181.79M	168.10M	148.02M	165.95M	129.16M	142.74M	142.77M	132.76M	268.17M	287.25M	206.09M	227.07M	157.56M	190.95M	189.62M	149.80M	123.19M
Preferred Stock	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Common Stock	113.34M	83.95M	64.89M	89.11M	83.78M	95.33M	85.81M	83.80M	113.53M	63.38M	65.63M	50.21M	47.51M	41.34M	20.18M	15.84M	15.46M	15.02M	11.78M	9.89M	14.05M	16.70M	15.85M	26.33M	12.84M	17.48M	19.46M	5.18M	4.03M	1.63M	1.44M
Retained Earnings	159.83M	119.56M	140.66M	38.23M	13.85M	-25.36M	114.18M	133.20M	133.02M	165.95M	185.12M	241.56M	274.71M	179.27M	98.46M	84.96M	83.33M	102.98M	97.92M	84.13M	79.35M	84.80M	77.33M	73.57M	68.27M	55.17M	141.38M	155.11M	100.24M	42.66M	27.43M
Accumulated OCI	25.66M	4.28M	-3.25M	1.10M	-3.63M	-9.26M	-6.74M	-27.29M	-16.94M	-24.84M	-17.20M	-9.92M	-7.91M	-4.44M	-4.62M	-4.60M	-3.65M	-7.47M	-0.53M	-0.36M	-1.28M	0.09M	-2.95M	-3.55M	-27.14M	-36.77M	-41.19M	-59.96M	-56.79M	-51.22M	-53.63M
Minority Interest	15.53M	11.47M	9.40M	9.38M	6.87M	8.43M	8.47M	7.63M	6.57M	3.77M	5.53M	3.53M	4.69M	4.36M	2.17M	1.38M	1.23M	0.96M	1.01M	0.29M	0.59M	0.42M	0.42M	0.63M	0.33M	0.57M	0.33M	0.00M	0.15M	0.00M	0.00M
Total Shareholders’ Equity	298.83M	207.78M	202.29M	128.44M	94.00M	60.70M	193.24M	189.71M	229.61M	204.49M	233.55M	281.85M	314.32M	216.17M	114.02M	96.20M	95.14M	110.53M	109.16M	93.65M	92.12M	101.59M	90.23M	96.35M	53.97M	35.89M	119.65M	100.33M	47.48M	-6.92M	-24.76M
Total Equity	314.36M	219.25M	211.69M	137.82M	100.87M	69.13M	201.70M	197.35M	236.19M	208.25M	239.08M	285.38M	319.00M	220.53M	116.19M	97.58M	96.37M	111.50M	110.18M	93.94M	92.72M	102.01M	90.65M	96.97M	54.29M	36.46M	119.98M	100.33M	47.63M	-6.92M	-24.76M
Total Liabilities & Equity	926.62M	785.87M	743.00M	656.86M	569.70M	536.34M	731.71M	716.93M	684.88M	644.61M	730.47M	773.07M	700.84M	543.26M	297.98M	265.67M	244.39M	277.45M	239.34M	236.68M	235.48M	234.77M	358.82M	384.22M	260.39M	263.53M	277.54M	291.28M	237.25M	142.87M	98.43M
Tangible Assets	1,365.54M	1,122.96M	1,033.76M	990.57M	920.07M	1,004.27M	1,042.51M	1,084.83M	979.29M	990.44M	1,046.66M	1,079.28M	903.04M	665.56M	386.98M	346.38M	282.63M	327.14M	314.99M	274.03M	317.18M	347.48M	548.54M	593.11M	443.74M	451.27M	314.94M	425.38M	531.27M	387.71M	335.49M
Tangible Equity	213.60M	134.44M	143.98M	66.92M	34.35M	-3.54M	93.36M	83.95M	144.32M	112.83M	143.14M	185.93M	215.53M	142.21M	82.37M	67.18M	73.34M	86.54M	82.96M	68.18M	83.90M	81.89M	43.54M	38.21M	1.70M	10.17M	84.83M	81.43M	21.13M	-22.96M	-35.55M
Tangible Book Value	213.60M	134.44M	143.98M	66.92M	34.35M	-3.54M	93.36M	83.95M	144.32M	112.83M	143.14M	185.93M	215.53M	142.21M	82.37M	67.18M	73.34M	86.54M	82.96M	68.18M	83.90M	81.89M	43.54M	38.21M	1.70M	10.17M	84.83M	81.43M	21.13M	-22.96M	-35.55M
Total Investments	35.49M	22.58M	23.38M	18.08M	20.20M	18.16M	16.14M	16.55M	29.66M	28.36M	22.80M	28.52M	16.85M	15.15M	9.11M	5.48M	4.68M	2.31M	1.09M	0.91M	1.19M	1.33M	0.24M	4.06M	0.04M	0.00M	0.42M	0.00M	0.01M	0.00M	0.02M
Net Debt	120.22M	118.83M	95.83M	99.28M	111.73M	113.58M	170.84M	177.13M	119.20M	100.49M	170.25M	147.26M	127.88M	111.30M	50.45M	28.41M	56.97M	61.81M	47.11M	45.82M	39.88M	28.34M	126.94M	137.50M	108.56M	88.58M	59.98M	98.82M	65.07M	41.45M	33.31M

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	296.15M	173.77M	179.22M	185.80M	210.95M	183.47M	201.66M	238.68M	224.10M	223.38M	260.90M	289.33M	254.44M	189.77M	145.99M	123.68M	70.69M	92.61M	88.74M	73.63M	67.40M	87.52M	130.65M	109.99M	113.34M	72.22M	47.60M	96.19M	111.65M	37.96M	64.65M
Total Capital	1,262.15M	1,030.85M	973.67M	873.46M	812.74M	821.28M	929.52M	852.28M	854.55M	874.41M	880.69M	922.56M	823.72M	665.62M	384.00M	339.43M	298.81M	305.29M	292.51M	249.97M	300.26M	279.01M	486.86M	523.84M	437.52M	435.21M	390.50M	502.50M	471.91M	333.12M	272.66M
Capital Employed	1,570.76M	1,205.47M	1,094.63M	1,048.22M	983.87M	1,041.75M	1,088.77M	1,025.42M	870.37M	985.24M	1,043.77M	1,075.24M	957.16M	766.46M	409.78M	342.02M	255.57M	311.70M	298.39M	275.71M	383.46M	379.46M	608.61M	759.03M	555.21M	569.62M	551.62M	582.74M	526.99M	358.48M	280.80M
Invested Capital	1,077.17M	884.65M	830.52M	740.45M	678.39M	685.36M	803.52M	733.55M	707.67M	723.06M	768.22M	801.65M	741.30M	598.72M	336.10M	286.76M	264.63M	276.39M	264.81M	221.45M	270.53M	234.93M	442.23M	478.86M	408.43M	403.50M	363.43M	477.42M	412.46M	306.50M	245.04M

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	64.89M	65.65M	65.02M	59.02M	67.43M	80.34M	79.16M	66.67M	63.77M	71.32M	71.09M	61.54M	49.08M	37.01M	21.50M	22.63M	20.02M	21.48M	20.82M	15.45M	25.03M	27.79M	48.06M	44.02M	38.23M	33.36M	28.00M	30.43M	36.97M	23.01M	22.27M
Deferred Income Tax	0.78M	0.74M	0.58M	0.98M	-2.30M	-3.28M	-2.68M	-0.12M	-1.51M	-5.18M	-6.82M	0.09M	0.74M	0.61M	-0.82M	-0.09M	-0.56M	0.02M	0.06M	0.27M	0.10M	0.20M	-0.01M	1.44M	4.30M	0.40M	0.43M	-0.93M	4.21M	-0.38M	0.38M
Stock-Based Compensation	4.87M	4.49M	3.73M	3.46M	2.89M	3.09M	4.22M	3.82M	3.67M	3.24M	3.00M	3.60M	2.78M	2.25M	0.85M	1.01M	0.86M	0.37M	0.00M	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	-12.67M	-12.46M	-5.60M	-32.09M	-2.81M	13.51M	-8.25M	-23.82M	-19.62M	14.51M	15.78M	-32.64M	-25.36M	-13.07M	-18.22M	-11.88M	5.51M	-15.98M	-10.74M	-6.52M	-12.12M	-4.50M	-2.33M	0.50M	-11.07M	-12.00M	-4.02M	-5.45M	-25.09M	-10.03M	-17.58M
Accounts Receivable	-2.35M	-7.47M	-9.31M	-35.87M	-17.21M	22.19M	-1.74M	-14.87M	-16.66M	26.78M	44.83M	-21.14M	-11.92M	-5.39M	-2.17M	-1.19M	5.49M	-0.89M	0.00M	-0.04M	-0.55M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-6.80M	-4.50M
Inventory	-2.25M	-2.34M	-4.11M	-15.58M	-4.39M	2.85M	-4.05M	-8.76M	-1.98M	9.49M	10.03M	-8.46M	-2.01M	-9.37M	-4.45M	-0.90M	2.78M	-10.38M	-3.46M	-6.88M	-3.93M	-3.61M	-0.86M	1.45M	-5.70M	-5.49M	-5.07M	-9.74M	-17.36M	-9.09M	-1.31M
Accounts Payable	-1.07M	2.63M	1.64M	18.29M	13.17M	-13.68M	4.21M	2.63M	7.28M	-4.24M	-20.27M	1.02M	0.00M	0.54M	0.63M	0.45M	-1.18M	0.03M	0.00M	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	-1.47M	-1.81M	2.04M	4.29M	0.90M	0.65M	-0.45M	-3.42M	-4.60M	-6.94M	-7.46M	-6.40M	-4.61M	2.78M	-0.82M	-3.01M	-4.30M	-2.43M	-3.75M	1.04M	-3.11M	1.14M	-0.92M	3.49M	-5.59M	-0.32M	0.81M	-2.98M	-15.68M	1.66M	-11.30M
Other Non-Cash Items	9.59M	17.48M	18.92M	9.96M	11.74M	57.82M	20.01M	27.06M	21.31M	25.56M	48.50M	11.25M	6.30M	1.28M	4.04M	2.31M	2.25M	4.88M	1.57M	1.21M	-2.00M	1.21M	1.26M	3.90M	0.13M	-1.44M	0.36M	0.91M	-0.61M	-10.70M	0.12M
Net Cash from Operating Activities	149.15M	153.56M	129.46M	76.75M	58.60M	76.36M	77.04M	69.78M	54.37M	81.04M	140.40M	119.96M	109.59M	87.27M	52.69M	45.93M	53.48M	52.96M	58.87M	45.25M	55.08M	52.54M	62.14M	70.45M	48.21M	25.31M	22.37M	47.36M	26.93M	48.59M	29.57M
Capital Expenditures (PPE)	-67.43M	-62.54M	-72.41M	-55.66M	-34.85M	-39.72M	-63.47M	-70.52M	-53.65M	-39.62M	-79.22M	-113.50M	-79.31M	-81.22M	-43.18M	-39.30M	-24.80M	-60.51M	-67.23M	-52.93M	-46.17M	-32.02M	-52.78M	-61.53M	-36.40M	-37.21M	-39.76M	-58.68M	-58.03M	-62.92M	-52.26M
Acquisitions (Net)	0.00M	-4.26M	-0.69M	0.43M	0.88M	5.26M	2.36M	-2.42M	-1.99M	-3.08M	-0.41M	-6.25M	-2.66M	-2.37M	-3.14M	-0.27M	-0.23M	-3.22M	-3.02M	-0.18M	-0.66M	-4.06M	-0.38M	-3.60M	-4.89M	-1.41M	0.00M	0.00M	0.00M	0.00M	0.00M
Purchases of Investments	0.00M	-0.47M	-1.36M	-3.58M	-2.07M	-1.75M	-1.64M	-3.99M	-1.60M	-5.06M	-0.94M	-0.42M	-0.45M	-0.88M	-0.62M	-0.14M	-0.33M	-0.55M	-0.16M	-0.02M	-0.10M	0.00M	0.00M	-0.13M	-0.16M	0.00M	-0.85M	-0.02M	0.00M	0.00M	0.00M
Sales / Maturities of Investments	0.00M	2.66M	1.73M	2.75M	4.30M	0.92M	5.64M	4.07M	1.15M	2.60M	1.77M	0.46M	0.53M	0.16M	0.22M	0.13M	0.23M	0.11M	0.24M	0.00M	0.15M	0.13M	0.02M	0.23M	1.62M	0.05M	0.07M	0.00M	0.00M	0.00M	1.22M
Other Investing Activities	4.95M	2.50M	4.94M	5.95M	4.58M	3.61M	2.97M	5.61M	3.94M	3.07M	3.45M	3.90M	1.87M	0.74M	1.44M	1.65M	1.55M	1.04M	0.35M	1.53M	0.82M	1.22M	3.81M	0.58M	1.25M	3.40M	8.92M	17.08M	-1.86M	4.41M	0.90M
Net Cash from Investing Activities	-90.17M	-105.88M	-88.88M	-48.13M	-28.66M	-35.80M	-50.85M	-83.70M	-51.17M	-54.62M	-82.59M	-124.63M	-85.66M	-85.58M	-57.92M	-36.69M	-26.63M	-78.20M	-73.05M	-51.13M	-47.37M	-59.29M	-39.57M	-86.75M	-56.36M	-70.80M	-51.61M	-76.71M	-105.67M	-58.87M	-48.76M
Net Debt Issuance	-4.46M	7.85M	-7.34M	1.26M	-8.46M	-8.71M	-8.00M	0.91M	-13.03M	-12.97M	-4.16M	14.48M	5.02M	7.16M	8.63M	-4.22M	-2.66M	10.95M	7.89M	8.99M	-5.05M	-1.67M	-1.74M	-5.29M	7.97M	10.55M	1.96M	13.37M	17.16M	4.44M	0.25M
Long-Term Debt Issuance	-8.19M	8.07M	-8.95M	-0.31M	-8.31M	-11.41M	-3.81M	2.14M	-12.34M	-11.92M	-5.65M	14.18M	4.26M	7.43M	6.91M	-2.62M	0.81M	7.67M	9.95M	5.68M	-7.94M	1.03M	-2.04M	-3.45M	7.72M	6.49M	1.46M	13.37M	17.16M	4.44M	0.25M
Short-Term Debt Issuance	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.09M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	-0.07M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M	0.00M
Net Stock Issuance	-7.18M	-8.20M	-2.49M	-0.33M	-0.22M	-0.82M	-1.16M	-0.63M	0.10M	3.57M	-0.16M	-0.44M	-0.78M	0.62M	0.15M	0.28M	0.21M	0.83M	2.16M	1.49M	9.86M	1.90M	0.21M	1.73M	1.05M	1.74M	0.71M	0.13M	6.89M	3.04M	3.05M
Common Stock Issuance	0.00M	0.00M	0.00M	0.00M	0.60M	0.01M	0.07M	0.19M	0.83M	9.30M	0.22M	4.14M	1.01M	1.80M	0.61M	0.76M	0.21M	1.52M	8.03M	7.31M	7.91M	11.05M	0.24M	1.72M	2.43M	7.55M	4.44M	1.27M	17.21M	25.01M	3.53M
Common Stock Repurchased	-8.33M	-8.35M	-5.15M	-0.69M	-0.75M	-0.96M	-2.09M	-1.80M	-0.49M	-0.30M	-0.57M	-1.18M	-1.00M	-0.23M	-0.01M	0.00M	0.00M	-0.94M	-0.44M	-0.43M	-0.07M	-0.27M	-0.02M	-0.70M	-0.79M	-0.07M	0.00M	-2.02M	0.00M	-0.04M	-1.71M
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	-13.76M	-23.33M	-11.60M	-6.30M	-4.17M	-5.65M	-7.20M	-8.13M	-8.03M	-7.45M	-12.27M	-12.89M	-10.38M	-9.30M	-4.87M	-3.00M	-2.43M	-3.82M	-2.53M	-2.86M	-2.41M	-2.68M	-2.45M	-2.34M	-1.37M	-0.92M	-0.95M	0.00M	0.00M	0.00M	-0.10M
Common Dividends Paid	-14.41M	-23.10M	-11.71M	-6.02M	-3.81M	-5.56M	-7.20M	-7.54M	-7.78M	-5.98M	-12.51M	-12.81M	-11.10M	-8.59M	-4.95M	-2.61M	-2.34M	-3.72M	-2.46M	-2.82M	-2.18M	-1.75M	-2.45M	-2.34M	-1.05M	-0.92M	-0.95M	0.00M	0.00M	0.00M	-0.10M
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	-16.13M	-11.97M	-10.46M	-5.59M	-6.07M	-5.69M	-5.43M	-1.56M	-3.37M	-3.38M	-3.24M	0.20M	1.47M	0.05M	0.34M	-1.26M	-0.20M	1.77M	0.53M	1.17M	0.36M	-0.10M	-0.04M	-0.23M	-1.19M	0.09M	-1.46M	0.06M	17.70M	2.30M	-5.05M
Net Cash from Financing Activities	-59.80M	-51.02M	-27.79M	-14.57M	-28.55M	-32.22M	-36.45M	-5.92M	-10.97M	-16.64M	-27.29M	0.20M	-0.06M	-1.72M	11.42M	-4.36M	-3.54M	9.83M	16.99M	12.09M	10.25M	6.83M	0.22M	1.11M	4.50M	24.46M	9.22M	15.72M	53.07M	19.64M	-2.08M
Effect of FX on Cash	-0.10M	-0.52M	0.28M	0.44M	-0.50M	-1.07M	0.15M	-0.76M	0.04M	0.39M	0.16M	-0.23M	-0.19M	0.15M	0.00M	-0.07M	-0.01M	-0.26M	0.14M	0.08M	-0.14M	0.03M	0.31M	0.04M	-0.02M	0.00M	0.02M	-0.02M	-0.02M	-0.05M	0.02M
Net Change in Cash	19.22M	9.36M	15.43M	6.67M	2.48M	7.90M	4.70M	-20.05M	-7.78M	18.58M	6.97M	7.94M	6.81M	2.21M	-2.17M	5.39M	10.95M	2.26M	2.19M	9.54M	4.51M	7.03M	16.86M	-4.83M	2.57M	-0.90M	2.17M	-0.90M	20.13M	4.23M	-19.20M
Cash at Beginning of Period	144.08M	132.19M	127.75M	131.28M	127.49M	124.40M	114.87M	148.49M	148.08M	117.65M	117.48M	91.12M	68.40M	64.00M	53.44M	37.49M	20.57M	26.04M	27.24M	16.10M	26.52M	19.51M	24.53M	28.41M	29.66M	29.32M	24.30M	38.74M	29.50M	22.92M	40.76M
Cash at End of Period	187.89M	148.71M	144.66M	132.78M	132.85M	134.88M	122.99M	115.66M	146.97M	147.83M	111.59M	118.93M	82.47M	64.38M	48.92M	52.98M	37.37M	22.87M	37.53M	28.89M	32.29M	46.03M	45.95M	43.63M	29.07M	35.57M	26.31M	34.11M	72.00M	34.89M	26.08M
Operating Cash Flow	149.30M	153.56M	129.24M	76.75M	58.60M	76.36M	77.04M	69.78M	54.37M	81.04M	140.40M	119.96M	109.59M	87.27M	52.69M	45.93M	53.48M	52.96M	58.87M	45.25M	55.08M	52.54M	62.14M	70.45M	48.21M	25.31M	22.37M	48.74M	26.93M	48.59M	29.57M
Capital Expenditure	-79.37M	-74.41M	-78.94M	-55.77M	-34.98M	-39.92M	-63.46M	-70.69M	-53.79M	-39.91M	-79.22M	-114.04M	-79.80M	-81.53M	-43.45M	-39.59M	-24.89M	-60.51M	-67.25M	-52.93M	-46.17M	-32.02M	-52.78M	-61.53M	-36.40M	-37.21M	-39.76M	-58.68M	-58.03M	-62.92M	-52.26M
Free Cash Flow	83.57M	69.37M	59.14M	17.28M	21.05M	30.24M	18.50M	0.29M	-7.46M	29.12M	44.85M	11.31M	26.47M	6.26M	-1.50M	6.40M	18.69M	-2.06M	-3.95M	-0.58M	-2.65M	9.04M	10.15M	6.22M	3.07M	-12.26M	-21.45M	-6.56M	-17.05M	-7.14M	-14.89M

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	214.41M	185.06M	164.14M	136.31M	90.23M	37.89M	94.39M	99.35M	84.87M	34.43M	95.86M	159.22M	141.19M	117.52M	74.07M	56.41M	44.75M	52.18M	71.06M	79.48M	79.89M	65.25M	82.51M	57.35M	99.24M	63.83M	35.53M	97.30M	140.18M	70.28M	41.82M
(-) Tax Adjustment	48.84M	36.76M	34.17M	34.89M	-180.45M	-1.59M	188.78M	75.11M	-169.74M	-2.04M	-43.81M	59.66M	41.36M	30.69M	19.13M	13.34M	7.25M	15.37M	18.00M	19.43M	15.20M	12.13M	25.35M	30.05M	48.17M	26.04M	11.67M	44.27M	48.94M	9.46M	9.69M
(-) Change In Working Capital	-12.67M	-12.46M	-5.60M	-32.09M	-2.81M	13.51M	-8.25M	-23.82M	-19.62M	14.51M	15.78M	-32.64M	-25.36M	-13.07M	-18.22M	-11.88M	5.51M	-15.98M	-10.74M	-6.52M	-12.12M	-4.50M	-2.33M	0.50M	-11.07M	-12.00M	-4.02M	-5.45M	-25.09M	-10.03M	-17.58M
(-) Capital Expenditure	79.37M	74.41M	78.94M	55.77M	34.98M	39.92M	63.46M	70.69M	53.79M	39.91M	79.22M	114.04M	79.80M	81.53M	43.45M	39.59M	24.89M	60.51M	67.25M	52.93M	46.17M	32.02M	52.78M	61.53M	36.40M	37.21M	39.76M	58.68M	58.03M	62.92M	52.26M
Unlevered Free Cash Flow	98.86M	86.35M	56.62M	77.75M	238.50M	-13.96M	-149.60M	-22.63M	220.44M	-17.95M	44.65M	18.16M	45.40M	18.37M	29.71M	15.36M	7.10M	-7.72M	-3.46M	13.64M	30.64M	25.61M	6.71M	-34.72M	25.73M	12.58M	-11.89M	-0.19M	58.30M	7.93M	-2.56M
(-) Net Interest Income After Taxes	-18.32M	-12.53M	-14.85M	-11.42M	-46.60M	-20.89M	17.06M	-4.07M	-35.43M	-15.18M	-18.59M	-5.65M	-5.83M	-4.85M	-4.47M	-4.38M	-4.21M	-3.69M	-1.65M	-1.14M	-1.32M	-1.03M	-3.32M	-3.13M	-2.97M	-0.72M	-0.03M	-0.08M	0.00M	-0.37M	-0.14M
Net Debt Issuance	-4.46M	7.85M	-7.34M	1.26M	-8.46M	-8.71M	-8.00M	0.91M	-13.03M	-12.97M	-4.16M	14.48M	5.02M	7.16M	8.63M	-4.22M	-2.66M	10.95M	7.89M	8.99M	-5.05M	-1.67M	-1.74M	-5.29M	7.97M	10.55M	1.96M	13.37M	17.16M	4.44M	0.25M
Levered Free Cash Flow	112.72M	106.73M	64.13M	90.43M	276.64M	-1.78M	-174.66M	-17.66M	242.84M	-15.73M	59.09M	38.30M	56.25M	30.38M	42.81M	15.52M	8.64M	6.91M	6.09M	23.76M	26.91M	24.97M	8.29M	-36.88M	36.67M	23.85M	-9.90M	13.26M	75.46M	12.74M	-2.17M