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Leonardo DRS, Inc. (DRS)

Analysis: Margins & Ratios Industry: Aerospace & Defense Sector: Industrials Live Price: $42.57

Income Statement Margins

Metric3Y Avg5Y Avg10Y AvgTTMTTM-12024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312008-03-312007-03-312006-03-31
Revenue
2,917,666,667
2,882,000,000
2,730,902,900
3,569,000,000
3,179,000,000
3,234,000,000
2,826,000,000
2,693,000,000
2,879,000,000
2,778,000,000
2,714,000,000
2,333,000,000
3,295,384,000
2,821,113,000
1,735,532,000
Cost of Revenue
2,264,666,667
2,282,000,000
2,240,676,000
2,734,000,000
2,468,000,000
2,498,000,000
2,178,000,000
2,118,000,000
2,332,000,000
2,284,000,000
2,255,000,000
1,919,000,000
2,868,908,000
2,458,630,000
1,495,222,000
Cost of Revenue Margin
77.65%
79.24%
82.19%
76.60%
77.63%
77.24%
77.07%
78.65%
81.00%
82.22%
83.09%
82.25%
87.06%
87.15%
86.15%
Gross Profit
653,000,000
600,000,000
490,226,900
835,000,000
711,000,000
736,000,000
648,000,000
575,000,000
547,000,000
494,000,000
459,000,000
414,000,000
426,476,000
362,483,000
240,310,000
Gross Profit Margin
22.35%
20.76%
17.81%
23.40%
22.37%
22.76%
22.93%
21.35%
19.00%
17.78%
16.91%
17.75%
12.94%
12.85%
13.85%
R&D Expenses
0
0
16,460,000
0
0
0
0
0
0
0
0
0
66,100,000
50,900,000
47,600,000
R&D Expenses Margin
0.00%
0.00%
0.66%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
2.01%
1.80%
2.74%
SG&A Expenses
385,000,000
346,200,000
227,600,000
469,000,000
404,000,000
414,000,000
384,000,000
357,000,000
293,000,000
283,000,000
277,000,000
268,000,000
0
0
0
SG&A Expenses Margin
13.22%
12.00%
8.17%
13.14%
12.71%
12.80%
13.59%
13.26%
10.18%
10.19%
10.21%
11.49%
0.00%
0.00%
0.00%
Operating Expenses
291,333,333
299,600,000
232,760,000
493,000,000
433,000,000
443,000,000
417,000,000
14,000,000
311,000,000
313,000,000
296,000,000
369,000,000
66,100,000
50,900,000
47,600,000
Operating Expenses Margin
9.66%
10.21%
8.43%
13.81%
13.62%
13.70%
14.76%
0.52%
10.80%
11.27%
10.91%
15.82%
2.01%
1.80%
2.74%
Operating Income (EBIT)
361,666,667
300,400,000
257,466,900
342,000,000
278,000,000
293,000,000
231,000,000
561,000,000
236,000,000
181,000,000
163,000,000
45,000,000
360,376,000
311,583,000
192,710,000
Operating Income (EBIT) Margin
12.69%
10.56%
9.38%
9.58%
8.74%
9.06%
8.17%
20.83%
8.20%
6.52%
6.01%
1.93%
10.94%
11.04%
11.10%
Interest Income
0
0
1,058,400
0
0
0
0
0
0
0
0
0
2,058,000
1,273,000
7,253,000
Interest Income Margin
0.00%
0.00%
0.05%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.06%
0.05%
0.42%
Interest Expense
30,333,333
38,000,000
60,642,100
11,000,000
26,000,000
21,000,000
36,000,000
34,000,000
35,000,000
64,000,000
65,000,000
58,000,000
110,423,000
119,912,000
63,086,000
Interest Expense Margin
1.06%
1.34%
2.28%
0.31%
0.82%
0.65%
1.27%
1.26%
1.22%
2.30%
2.39%
2.49%
3.35%
4.25%
3.63%
Net Interest Income
-30,333,333
-38,000,000
-59,583,700
-11,000,000
-26,000,000
-21,000,000
-36,000,000
-34,000,000
-35,000,000
-64,000,000
-65,000,000
-58,000,000
-108,365,000
-118,639,000
-55,833,000
Net Interest Income Margin
-1.06%
-1.34%
-2.23%
-0.31%
-0.82%
-0.65%
-1.27%
-1.26%
-1.22%
-2.30%
-2.39%
-2.49%
-3.29%
-4.21%
-3.22%
Unusual Items
65,000,000
79,800,000
122,457,500
30,000,000
56,000,000
50,000,000
75,000,000
70,000,000
71,000,000
133,000,000
133,000,000
120,000,000
217,454,000
241,628,000
113,493,000
Unusual Items Margin
2.27%
2.81%
4.58%
0.84%
1.76%
1.55%
2.65%
2.60%
2.47%
4.79%
4.90%
5.14%
6.60%
8.56%
6.54%
EBT Excluding Unusual Items
262,000,000
178,800,000
72,135,600
293,000,000
192,000,000
214,000,000
117,000,000
455,000,000
129,000,000
-21,000,000
-38,000,000
-137,000,000
33,833,000
-53,034,000
21,557,000
EBT Excluding Unusual Items Margin
9.22%
6.28%
2.45%
8.21%
6.04%
6.62%
4.14%
16.90%
4.48%
-0.76%
-1.40%
-5.87%
1.03%
-1.88%
1.24%
Pre-Tax Income
327,000,000
258,600,000
194,593,100
323,000,000
248,000,000
264,000,000
192,000,000
525,000,000
200,000,000
112,000,000
95,000,000
-17,000,000
251,287,000
188,594,000
135,050,000
Pre-Tax Income Margin
11.48%
9.09%
7.03%
9.05%
7.80%
8.16%
6.79%
19.49%
6.95%
4.03%
3.50%
-0.73%
7.63%
6.69%
7.78%
Income Tax Expense
65,000,000
53,600,000
47,685,300
58,000,000
50,000,000
51,000,000
24,000,000
120,000,000
46,000,000
27,000,000
20,000,000
-7,000,000
83,755,000
60,104,000
51,994,000
Income Tax Expense Margin
2.29%
1.89%
1.76%
1.63%
1.57%
1.58%
0.85%
4.46%
1.60%
0.97%
0.74%
-0.30%
2.54%
2.13%
3.00%
Net Income
262,000,000
205,000,000
146,432,300
265,000,000
198,000,000
213,000,000
168,000,000
405,000,000
154,000,000
85,000,000
75,000,000
-10,000,000
165,769,000
127,060,000
81,494,000
Net Income Margin
9.19%
7.20%
5.25%
7.43%
6.23%
6.59%
5.94%
15.04%
5.35%
3.06%
2.76%
-0.43%
5.03%
4.50%
4.70%
Depreciation and Amortization
80,333,333
70,400,000
73,483,900
92,000,000
90,000,000
91,000,000
85,000,000
65,000,000
58,000,000
53,000,000
51,000,000
128,000,000
78,191,000
76,663,000
48,985,000
Depreciation and Amortization Margin
2.75%
2.43%
2.74%
2.58%
2.83%
2.81%
3.01%
2.41%
2.01%
1.91%
1.88%
5.49%
2.37%
2.72%
2.82%
EBITDA
437,666,667
367,000,000
328,043,100
426,000,000
364,000,000
376,000,000
313,000,000
624,000,000
293,000,000
229,000,000
211,000,000
169,000,000
438,567,000
385,169,000
241,695,000
EBITDA Margin
15.29%
12.86%
12.02%
11.94%
11.45%
11.63%
11.08%
23.17%
10.18%
8.24%
7.77%
7.24%
13.31%
13.65%
13.93%
NOPAT
290,431,385
238,076,045
191,659,621
280,588,235
221,951,613
236,397,727
202,125,000
432,771,429
181,720,000
137,366,071
128,684,211
26,470,588
240,261,184
212,282,998
118,517,007
NOPAT Margin
10.18%
8.36%
6.93%
7.86%
6.98%
7.31%
7.15%
16.07%
6.31%
4.94%
4.74%
1.13%
7.29%
7.52%
6.83%
Owner's Earnings
272,333,333
210,200,000
160,774,700
238,000,000
214,000,000
219,000,000
193,000,000
405,000,000
152,000,000
82,000,000
71,000,000
78,000,000
172,646,000
147,816,000
87,285,000
Owner's Earnings Margin
9.55%
7.37%
5.83%
6.67%
6.73%
6.77%
6.83%
15.04%
5.28%
2.95%
2.62%
3.34%
5.24%
5.24%
5.03%

Balance Sheet Margins

Metric3Y Avg5Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312008-03-312007-03-312006-03-31
Revenue
2,917,666,667
2,882,000,000
3,234,000,000
2,826,000,000
2,693,000,000
2,879,000,000
2,778,000,000
2,714,000,000
3,295,384,000
2,821,113,000
1,735,532,000
Cash & Cash Equivalents
457,000,000
334,400,000
598,000,000
467,000,000
306,000,000
240,000,000
61,000,000
85,000,000
86,251,000
95,833,000
1,293,000
Cash & Cash Equivalents Margin
15.46%
11.38%
18.49%
16.53%
11.36%
8.34%
2.20%
3.13%
2.62%
3.40%
0.07%
Short-Term Investments
0
0
0
0
0
0
0
0
0
0
0
Short-Term Investments Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Cash & Short-Term Investments
457,000,000
334,400,000
598,000,000
467,000,000
306,000,000
240,000,000
61,000,000
85,000,000
86,251,000
95,833,000
1,293,000
Cash & Short-Term Investments Margin
15.46%
11.38%
18.49%
16.53%
11.36%
8.34%
2.20%
3.13%
2.62%
3.40%
0.07%
Net Receivables
1,074,000,000
1,002,000,000
1,125,000,000
1,059,000,000
1,038,000,000
899,000,000
889,000,000
902,000,000
574,129,000
535,242,000
435,035,000
Net Receivables Margin
36.93%
34.81%
34.79%
37.47%
38.54%
31.23%
32.00%
33.24%
17.42%
18.97%
25.07%
Inventory
335,333,333
291,600,000
358,000,000
329,000,000
319,000,000
205,000,000
247,000,000
209,000,000
437,709,000
367,612,000
331,624,000
Inventory Margin
11.52%
10.11%
11.07%
11.64%
11.85%
7.12%
8.89%
7.70%
13.28%
13.03%
19.11%
Other Current Assets
40,333,333
35,200,000
55,000,000
42,000,000
24,000,000
22,000,000
33,000,000
36,000,000
58,100,000
71,500,000
59,600,000
Other Current Assets Margin
1.36%
1.21%
1.70%
1.49%
0.89%
0.76%
1.19%
1.33%
1.76%
2.53%
3.43%
Total Current Assets
1,929,333,333
1,688,000,000
2,163,000,000
1,918,000,000
1,707,000,000
1,389,000,000
1,263,000,000
1,251,000,000
1,225,555,000
1,125,662,000
903,565,000
Total Current Assets Margin
66.05%
58.37%
66.88%
67.87%
63.39%
48.25%
45.46%
46.09%
37.19%
39.90%
52.06%
Property, Plant & Equipment
415,333,333
393,000,000
440,000,000
402,000,000
404,000,000
364,000,000
355,000,000
253,000,000
255,677,000
231,206,000
220,506,000
Property, Plant & Equipment Margin
14.28%
13.65%
13.61%
14.23%
15.00%
12.64%
12.78%
9.32%
7.76%
8.20%
12.71%
Goodwill
1,237,333,333
1,168,000,000
1,238,000,000
1,238,000,000
1,236,000,000
1,071,000,000
1,057,000,000
1,057,000,000
2,624,589,000
2,616,642,000
2,608,068,000
Goodwill Margin
42.66%
40.65%
38.28%
43.81%
45.90%
37.20%
38.05%
38.95%
79.64%
92.75%
150.27%
Intangible Assets
151,666,667
113,400,000
132,000,000
151,000,000
172,000,000
52,000,000
60,000,000
69,000,000
0
0
0
Intangible Assets Margin
5.27%
3.96%
4.08%
5.34%
6.39%
1.81%
2.16%
2.54%
0.00%
0.00%
0.00%
Long-Term Investments
0
10,400,000
0
0
0
27,000,000
25,000,000
0
167,774,000
196,984,000
231,139,000
Long-Term Investments Margin
0.00%
0.37%
0.00%
0.00%
0.00%
0.94%
0.90%
0.00%
5.09%
6.98%
13.32%
Tax Assets
103,000,000
90,400,000
120,000,000
123,000,000
66,000,000
56,000,000
87,000,000
117,000,000
4,200,000
1,600,000
2,400,000
Tax Assets Margin
3.50%
3.12%
3.71%
4.35%
2.45%
1.95%
3.13%
4.31%
0.13%
0.06%
0.14%
Other Non-Current Assets
90,666,667
98,200,000
91,000,000
89,000,000
92,000,000
110,000,000
109,000,000
141,000,000
38,240,000
42,616,000
56,216,000
Other Non-Current Assets Margin
3.13%
3.42%
2.81%
3.15%
3.42%
3.82%
3.92%
5.20%
1.16%
1.51%
3.24%
Other Assets
0
0
0
0
0
0
0
0
0
0
0
Other Assets Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Total Non-Current Assets
1,998,000,000
1,873,400,000
2,021,000,000
2,003,000,000
1,970,000,000
1,680,000,000
1,693,000,000
1,637,000,000
3,090,480,000
3,089,048,000
3,118,329,000
Total Non-Current Assets Margin
68.84%
65.16%
62.49%
70.88%
73.15%
58.35%
60.94%
60.32%
93.78%
109.50%
179.68%
Total Assets
3,927,333,333
3,561,400,000
4,184,000,000
3,921,000,000
3,677,000,000
3,069,000,000
2,956,000,000
2,888,000,000
4,316,035,000
4,214,710,000
4,021,894,000
Total Assets Margin
134.89%
123.53%
129.38%
138.75%
136.54%
106.60%
106.41%
106.41%
130.97%
149.40%
231.74%
Accounts Payable
427,000,000
447,600,000
426,000,000
398,000,000
457,000,000
479,000,000
478,000,000
536,000,000
357,859,000
297,427,000
224,673,000
Accounts Payable Margin
14.74%
15.61%
13.17%
14.08%
16.97%
16.64%
17.21%
19.75%
10.86%
10.54%
12.95%
Short-Term Debt
37,000,000
41,000,000
25,000,000
57,000,000
29,000,000
41,000,000
53,000,000
56,000,000
5,384,000
5,161,000
4,622,000
Short-Term Debt Margin
1.29%
1.44%
0.77%
2.02%
1.08%
1.42%
1.91%
2.06%
0.16%
0.18%
0.27%
Tax Payables
33,666,667
20,200,000
24,000,000
46,000,000
31,000,000
0
0
0
36,952,000
51,470,000
34,560,000
Tax Payables Margin
1.17%
0.70%
0.74%
1.63%
1.15%
0.00%
0.00%
0.00%
1.12%
1.82%
1.99%
Deferred Revenue
322,333,333
263,600,000
399,000,000
335,000,000
233,000,000
174,000,000
177,000,000
175,000,000
36,952,000
51,470,000
34,560,000
Deferred Revenue Margin
10.95%
9.05%
12.34%
11.85%
8.65%
6.04%
6.37%
6.45%
1.12%
1.82%
1.99%
Other Current Liabilities
163,333,333
175,000,000
140,000,000
146,000,000
204,000,000
201,000,000
184,000,000
136,000,000
370,627,000
331,971,000
346,411,000
Other Current Liabilities Margin
5.69%
6.14%
4.33%
5.17%
7.58%
6.98%
6.62%
5.01%
11.25%
11.77%
19.96%
Total Current Liabilities
1,078,666,667
1,040,000,000
1,116,000,000
1,078,000,000
1,042,000,000
989,000,000
975,000,000
1,001,000,000
870,793,000
770,532,000
703,138,000
Total Current Liabilities Margin
37.12%
36.16%
34.51%
38.15%
38.69%
34.35%
35.10%
36.88%
26.42%
27.31%
40.51%
Long-Term Debt
351,333,333
356,000,000
340,000,000
349,000,000
365,000,000
352,000,000
374,000,000
656,000,000
1,627,468,000
1,783,046,000
1,828,771,000
Long-Term Debt Margin
12.14%
12.42%
10.51%
12.35%
13.55%
12.23%
13.46%
24.17%
49.39%
63.20%
105.37%
Capital Lease Obligations
92,333,333
95,400,000
93,000,000
91,000,000
93,000,000
97,000,000
103,000,000
109,000,000
0
0
0
Capital Lease Obligations Margin
3.18%
3.33%
2.88%
3.22%
3.45%
3.37%
3.71%
4.02%
0.00%
0.00%
0.00%
Deferred Tax Liabilities
3,666,667
2,200,000
7,000,000
4,000,000
0
0
0
0
42,100,000
46,500,000
35,600,000
Deferred Tax Liabilities Margin
0.12%
0.07%
0.22%
0.14%
0.00%
0.00%
0.00%
0.00%
1.28%
1.65%
2.05%
Other Non-Current Liabilities
90,000,000
86,200,000
98,000,000
97,000,000
75,000,000
62,000,000
99,000,000
124,000,000
92,068,000
112,182,000
102,805,000
Other Non-Current Liabilities Margin
3.08%
2.99%
3.03%
3.43%
2.78%
2.15%
3.56%
4.57%
2.79%
3.98%
5.92%
Total Non-Current Liabilities
512,333,333
515,600,000
511,000,000
518,000,000
508,000,000
487,000,000
554,000,000
868,000,000
1,761,636,000
1,941,728,000
1,967,176,000
Total Non-Current Liabilities Margin
17.66%
17.97%
15.80%
18.33%
18.86%
16.92%
19.94%
31.98%
53.46%
68.83%
113.35%
Total Liabilities
1,591,000,000
1,555,600,000
1,627,000,000
1,596,000,000
1,550,000,000
1,476,000,000
1,529,000,000
1,869,000,000
2,632,429,000
2,712,260,000
2,670,314,000
Total Liabilities Margin
54.78%
54.13%
50.31%
56.48%
57.56%
51.27%
55.04%
68.87%
79.88%
96.14%
153.86%
Preferred Stock
0
0
0
0
0
0
0
0
0
0
0
Preferred Stock Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Common Stock
3,000,000
2,400,000
3,000,000
3,000,000
3,000,000
2,000,000
1,000,000
1,000,000
414,000
407,000
399,000
Common Stock Margin
0.10%
0.08%
0.09%
0.11%
0.11%
0.07%
0.04%
0.04%
0.01%
0.01%
0.02%
Retained Earnings
-2,791,000,000
-2,898,600,000
-2,593,000,000
-2,806,000,000
-2,974,000,000
-2,983,000,000
-3,137,000,000
-3,222,000,000
537,130,000
399,793,000
277,706,000
Retained Earnings Margin
-96.64%
-101.29%
-80.18%
-99.29%
-110.43%
-103.61%
-112.92%
-118.72%
16.30%
14.17%
16.00%
Accumulated OCI
-47,666,667
-54,200,000
-47,000,000
-47,000,000
-49,000,000
-58,000,000
-70,000,000
-93,000,000
16,138,000
2,259,000
-3,311,000
Accumulated OCI Margin
-1.65%
-1.89%
-1.45%
-1.66%
-1.82%
-2.01%
-2.52%
-3.43%
0.49%
0.08%
-0.19%
Minority Interest
0
0
0
0
0
0
0
0
0
0
0
Minority Interest Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Total Shareholders’ Equity
2,336,333,333
2,005,800,000
2,557,000,000
2,325,000,000
2,127,000,000
1,593,000,000
1,427,000,000
1,019,000,000
1,683,606,000
1,502,450,000
1,351,580,000
Total Shareholders’ Equity Margin
80.11%
69.40%
79.07%
82.27%
78.98%
55.33%
51.37%
37.55%
51.09%
53.26%
77.88%
Total Equity
2,336,333,333
2,005,800,000
2,557,000,000
2,325,000,000
2,127,000,000
1,593,000,000
1,427,000,000
1,019,000,000
1,683,606,000
1,502,450,000
1,351,580,000
Total Equity Margin
80.11%
69.40%
79.07%
82.27%
78.98%
55.33%
51.37%
37.55%
51.09%
53.26%
77.88%
Total Liabilities & Equity
0
0
0
0
0
0
0
0
0
0
0
Total Liabilities & Equity Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Total Investments
0
10,400,000
0
0
0
27,000,000
25,000,000
0
167,774,000
196,984,000
231,139,000
Total Investments Margin
0.00%
0.37%
0.00%
0.00%
0.00%
0.94%
0.90%
0.00%
5.09%
6.98%
13.32%
Net Debt
23,666,667
158,000,000
-140,000,000
30,000,000
181,000,000
250,000,000
469,000,000
736,000,000
1,546,601,000
1,692,374,000
1,832,100,000
Net Debt Margin
1.15%
5.80%
-4.33%
1.06%
6.72%
8.68%
16.88%
27.12%
46.93%
59.99%
105.56%

Capital Metrics

Metric3Y Avg5Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312008-03-312007-03-312006-03-31
Revenue
2,917,666,667
2,882,000,000
3,234,000,000
2,826,000,000
2,693,000,000
2,879,000,000
2,778,000,000
2,714,000,000
3,295,384,000
2,821,113,000
1,735,532,000
Working Capital
850,666,667
648,000,000
1,047,000,000
840,000,000
665,000,000
400,000,000
288,000,000
250,000,000
354,762,000
355,130,000
200,427,000
Working Capital Margin
28.93%
22.21%
32.37%
29.72%
24.69%
13.89%
10.37%
9.21%
10.77%
12.59%
11.55%
Total Capital
2,817,000,000
2,498,200,000
3,015,000,000
2,822,000,000
2,614,000,000
2,083,000,000
1,957,000,000
1,840,000,000
3,316,458,000
3,290,657,000
3,184,973,000
Total Capital Margin
96.72%
86.59%
93.23%
99.86%
97.07%
72.35%
70.45%
67.80%
100.64%
116.64%
183.52%
Capital Employed
2,848,666,667
2,521,400,000
3,068,000,000
2,843,000,000
2,635,000,000
2,080,000,000
1,981,000,000
1,887,000,000
3,445,242,000
3,444,178,000
3,318,756,000
Capital Employed Margin
97.77%
87.37%
94.87%
100.60%
97.85%
72.25%
71.31%
69.53%
104.55%
122.09%
191.22%
Invested Capital
2,360,000,000
2,163,800,000
2,417,000,000
2,355,000,000
2,308,000,000
1,843,000,000
1,896,000,000
1,755,000,000
3,230,207,000
3,194,824,000
3,183,680,000
Invested Capital Margin
81.26%
75.21%
74.74%
83.33%
85.70%
64.02%
68.25%
64.66%
98.02%
113.25%
183.44%

Cash Flow Margins

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312008-03-312007-03-312006-03-31
Revenue
2,917,666,667
2,882,000,000
2,730,902,900
3,234,000,000
2,826,000,000
2,693,000,000
2,879,000,000
2,778,000,000
2,714,000,000
2,333,000,000
3,295,384,000
2,821,113,000
1,735,532,000
Net Income
262,000,000
205,000,000
146,432,300
213,000,000
168,000,000
405,000,000
154,000,000
85,000,000
75,000,000
-10,000,000
165,769,000
127,060,000
81,494,000
Net Income Margin
9.19%
7.20%
5.25%
6.59%
5.94%
15.04%
5.35%
3.06%
2.76%
-0.43%
5.03%
4.50%
4.70%
Depreciation & Amortization
80,333,333
70,400,000
73,483,900
91,000,000
85,000,000
65,000,000
58,000,000
53,000,000
51,000,000
128,000,000
78,191,000
76,663,000
48,985,000
Depreciation & Amortization Margin
2.75%
2.43%
2.74%
2.81%
3.01%
2.41%
2.01%
1.91%
1.88%
5.49%
2.37%
2.72%
2.82%
Deferred Income Tax
-11,666,667
5,200,000
7,827,900
23,000,000
-52,000,000
-6,000,000
31,000,000
30,000,000
12,000,000
-3,000,000
17,205,000
10,620,000
15,454,000
Deferred Income Tax Margin
-0.45%
0.16%
0.29%
0.71%
-1.84%
-0.22%
1.08%
1.08%
0.44%
-0.13%
0.52%
0.38%
0.89%
Stock-Based Compensation
14,666,667
8,800,000
4,400,000
22,000,000
17,000,000
5,000,000
0
0
0
0
0
0
0
Stock-Based Compensation Margin
0.49%
0.29%
0.15%
0.68%
0.60%
0.19%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Change in Working Capital
-58,333,333
-57,200,000
-38,496,100
-79,000,000
-14,000,000
-82,000,000
-65,000,000
-46,000,000
16,000,000
-18,000,000
-60,507,000
-37,673,000
1,219,000
Change in Working Capital Margin
-1.99%
-1.98%
-1.32%
-2.44%
-0.50%
-3.04%
-2.26%
-1.66%
0.59%
-0.77%
-1.84%
-1.34%
0.07%
Accounts Receivable
-29,333,333
-35,400,000
-29,198,700
-102,000,000
15,000,000
-1,000,000
-54,000,000
-35,000,000
9,000,000
44,000,000
-38,636,000
-100,797,000
-28,554,000
Accounts Receivable Margin
-0.89%
-1.16%
-1.00%
-3.15%
0.53%
-0.04%
-1.88%
-1.26%
0.33%
1.89%
-1.17%
-3.57%
-1.65%
Inventory
-24,000,000
-13,600,000
-25,453,300
-29,000,000
-10,000,000
-33,000,000
42,000,000
-38,000,000
-36,000,000
42,000,000
-104,599,000
-51,276,000
-36,658,000
Inventory Margin
-0.83%
-0.48%
-0.90%
-0.90%
-0.35%
-1.23%
1.46%
-1.37%
-1.33%
1.80%
-3.17%
-1.82%
-2.11%
Accounts Payable
-19,333,333
-23,000,000
29,855,900
15,000,000
-59,000,000
-14,000,000
1,000,000
-58,000,000
156,000,000
83,000,000
55,444,000
68,107,000
51,008,000
Accounts Payable Margin
-0.71%
-0.84%
1.21%
0.46%
-2.09%
-0.52%
0.03%
-2.09%
5.75%
3.56%
1.68%
2.41%
2.94%
Other Working Capital
14,333,333
14,800,000
-13,700,000
37,000,000
40,000,000
-34,000,000
-54,000,000
85,000,000
-113,000,000
-187,000,000
27,284,000
46,293,000
15,423,000
Other Working Capital Margin
0.43%
0.50%
-0.63%
1.14%
1.42%
-1.26%
-1.88%
3.06%
-4.16%
-8.02%
0.83%
1.64%
0.89%
Other Non-Cash Items
-117,333,333
-69,800,000
29,491,700
1,000,000
1,000,000
-354,000,000
0
3,000,000
3,000,000
8,000,000
254,976,000
255,857,000
122,084,000
Other Non-Cash Items Margin
-4.36%
-2.59%
1.13%
0.03%
0.04%
-13.15%
0.00%
0.11%
0.11%
0.34%
7.74%
9.07%
7.03%
Net Cash from Operating Activities
169,666,667
162,400,000
163,775,800
271,000,000
205,000,000
33,000,000
178,000,000
125,000,000
157,000,000
105,000,000
211,461,000
195,235,000
157,062,000
Net Cash from Operating Activities Margin
5.62%
5.51%
6.02%
8.38%
7.25%
1.23%
6.18%
4.50%
5.78%
4.50%
6.42%
6.92%
9.05%
Capital Expenditures (PPE)
-70,000,000
-65,200,000
-59,141,500
-85,000,000
-60,000,000
-65,000,000
-60,000,000
-56,000,000
-55,000,000
-40,000,000
-71,314,000
-55,907,000
-43,194,000
Capital Expenditures (PPE) Margin
-2.39%
-2.25%
-2.16%
-2.63%
-2.12%
-2.41%
-2.08%
-2.02%
-2.03%
-1.71%
-2.16%
-1.98%
-2.49%
Acquisitions (Net)
167,000,000
98,400,000
-96,496,900
0
0
501,000,000
-14,000,000
5,000,000
-4,000,000
-6,000,000
-5,968,000
-16,737,000
-1,424,264,000
Acquisitions (Net) Margin
6.20%
3.66%
-6.49%
0.00%
0.00%
18.60%
-0.49%
0.18%
-0.15%
-0.26%
-0.18%
-0.59%
-82.06%
Purchases of Investments
0
-1,200,000
-600,000
0
0
0
-2,000,000
-4,000,000
0
0
0
0
0
Purchases of Investments Margin
0.00%
-0.04%
-0.02%
0.00%
0.00%
0.00%
-0.07%
-0.14%
0.00%
0.00%
0.00%
0.00%
0.00%
Sales / Maturities of Investments
0
11,000,000
5,500,000
0
0
0
60,000,000
-5,000,000
0
0
0
0
0
Sales / Maturities of Investments Margin
0.00%
0.38%
0.19%
0.00%
0.00%
0.00%
2.08%
-0.18%
0.00%
0.00%
0.00%
0.00%
0.00%
Other Investing Activities
666,667
9,400,000
-4,177,100
1,000,000
1,000,000
0
55,000,000
-10,000,000
-92,000,000
0
441,000
2,726,000
62,000
Other Investing Activities Margin
0.02%
0.32%
-0.17%
0.03%
0.04%
0.00%
1.91%
-0.36%
-3.39%
0.00%
0.01%
0.10%
0.00%
Net Cash from Investing Activities
97,666,667
52,400,000
-154,915,500
-84,000,000
-59,000,000
436,000,000
39,000,000
-70,000,000
-151,000,000
-46,000,000
-76,841,000
-69,918,000
-1,467,396,000
Net Cash from Investing Activities Margin
3.83%
2.07%
-8.66%
-2.60%
-2.09%
16.19%
1.35%
-2.52%
-5.56%
-1.97%
-2.33%
-2.48%
-84.55%
Net Debt Issuance
-12,333,333
-30,200,000
65,703,400
-43,000,000
8,000,000
-2,000,000
-38,000,000
-76,000,000
1,000,000
-17,000,000
-155,458,000
-44,267,000
1,023,759,000
Net Debt Issuance Margin
-0.37%
-1.04%
4.68%
-1.33%
0.28%
-0.07%
-1.32%
-2.74%
0.04%
-0.73%
-4.72%
-1.57%
58.99%
Long-Term Debt Issuance
-5,666,667
-20,400,000
75,533,400
-11,000,000
-12,000,000
6,000,000
-20,000,000
-65,000,000
-15,000,000
-28,000,000
-155,458,000
-4,267,000
1,060,059,000
Long-Term Debt Issuance Margin
-0.18%
-0.72%
5.09%
-0.34%
-0.42%
0.22%
-0.69%
-2.34%
-0.55%
-1.20%
-4.72%
-0.15%
61.08%
Short-Term Debt Issuance
-6,666,667
-9,800,000
-9,830,000
-32,000,000
20,000,000
-8,000,000
-18,000,000
-11,000,000
16,000,000
11,000,000
0
-40,000,000
-36,300,000
Short-Term Debt Issuance Margin
-0.19%
-0.32%
-0.40%
-0.99%
0.71%
-0.30%
-0.63%
-0.40%
0.59%
0.47%
0.00%
-1.42%
-2.09%
Net Stock Issuance
2,666,667
1,600,000
1,559,900
-3,000,000
11,000,000
0
0
0
0
0
10,563,000
12,868,000
-15,832,000
Net Stock Issuance Margin
0.10%
0.06%
0.02%
-0.09%
0.39%
0.00%
0.00%
0.00%
0.00%
0.00%
0.32%
0.46%
-0.91%
Common Stock Issuance
9,333,333
5,600,000
3,559,900
16,000,000
12,000,000
0
0
0
0
0
10,563,000
12,868,000
-15,832,000
Common Stock Issuance Margin
0.31%
0.18%
0.08%
0.49%
0.42%
0.00%
0.00%
0.00%
0.00%
0.00%
0.32%
0.46%
-0.91%
Common Stock Repurchased
-6,666,667
-4,000,000
-2,000,000
-19,000,000
-1,000,000
0
0
0
0
0
0
0
0
Common Stock Repurchased Margin
-0.21%
-0.12%
-0.06%
-0.59%
-0.04%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Preferred Stock Issuance
0
0
0
0
0
0
0
0
0
0
0
0
0
Preferred Stock Issuance Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Net Dividends Paid
-132,000,000
-79,200,000
-40,959,900
0
0
-396,000,000
0
0
0
0
-4,932,000
-4,962,000
-3,705,000
Net Dividends Paid Margin
-4.90%
-2.94%
-1.52%
0.00%
0.00%
-14.70%
0.00%
0.00%
0.00%
0.00%
-0.15%
-0.18%
-0.21%
Common Dividends Paid
-132,000,000
-79,200,000
-40,959,900
0
0
-396,000,000
0
0
0
0
-4,932,000
-4,962,000
-3,705,000
Common Dividends Paid Margin
-4.90%
-2.94%
-1.52%
0.00%
0.00%
-14.70%
0.00%
0.00%
0.00%
0.00%
-0.15%
-0.18%
-0.21%
Preferred Dividends Paid
0
0
0
0
0
0
0
0
0
0
0
0
0
Preferred Dividends Paid Margin
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Other Financing Activities
-6,333,333
-4,600,000
-2,716,000
-10,000,000
-4,000,000
-5,000,000
0
-4,000,000
-2,000,000
-13,000,000
5,480,000
5,360,000
0
Other Financing Activities Margin
-0.21%
-0.16%
-0.11%
-0.31%
-0.14%
-0.19%
0.00%
-0.14%
-0.07%
-0.56%
0.17%
0.19%
0.00%
Net Cash from Financing Activities
-148,000,000
-112,400,000
23,587,400
-56,000,000
15,000,000
-403,000,000
-38,000,000
-80,000,000
-1,000,000
-30,000,000
-144,347,000
-31,001,000
1,004,222,000
Net Cash from Financing Activities Margin
-5.39%
-4.07%
3.07%
-1.73%
0.53%
-14.96%
-1.32%
-2.88%
-0.04%
-1.29%
-4.38%
-1.10%
57.86%
Effect of FX on Cash
0
200,000
0
0
0
0
0
1,000,000
1,000,000
-2,000,000
0
0
0
Effect of FX on Cash Margin
0.00%
0.01%
0.00%
0.00%
0.00%
0.00%
0.00%
0.04%
0.04%
-0.09%
0.00%
0.00%
0.00%
Net Change in Cash
119,333,333
102,600,000
32,462,200
131,000,000
161,000,000
66,000,000
179,000,000
-24,000,000
6,000,000
27,000,000
-9,582,000
94,316,000
-306,112,000
Net Change in Cash Margin
4.07%
3.51%
0.43%
4.05%
5.70%
2.45%
6.22%
-0.86%
0.22%
1.16%
-0.29%
3.34%
-17.64%
Cash at Beginning of Period
337,666,667
231,800,000
169,475,500
467,000,000
306,000,000
240,000,000
61,000,000
85,000,000
79,000,000
52,000,000
95,833,000
1,517,000
307,405,000
Cash at Beginning of Period Margin
11.39%
7.87%
6.52%
14.44%
10.83%
8.91%
2.12%
3.06%
2.91%
2.23%
2.91%
0.05%
17.71%
Cash at End of Period
457,000,000
334,400,000
201,937,700
598,000,000
467,000,000
306,000,000
240,000,000
61,000,000
85,000,000
79,000,000
86,251,000
95,833,000
1,293,000
Cash at End of Period Margin
15.46%
11.38%
6.95%
18.49%
16.53%
11.36%
8.34%
2.20%
3.13%
3.39%
2.62%
3.40%
0.07%
Operating Cash Flow
169,666,667
162,400,000
163,775,800
271,000,000
205,000,000
33,000,000
178,000,000
125,000,000
157,000,000
105,000,000
211,461,000
195,235,000
157,062,000
Operating Cash Flow Margin
5.62%
5.51%
6.02%
8.38%
7.25%
1.23%
6.18%
4.50%
5.78%
4.50%
6.42%
6.92%
9.05%
Capital Expenditure
-70,000,000
-65,200,000
-59,141,500
-85,000,000
-60,000,000
-65,000,000
-60,000,000
-56,000,000
-55,000,000
-40,000,000
-71,314,000
-55,907,000
-43,194,000
Capital Expenditure Margin
-2.39%
-2.25%
-2.16%
-2.63%
-2.12%
-2.41%
-2.08%
-2.02%
-2.03%
-1.71%
-2.16%
-1.98%
-2.49%
Free Cash Flow
99,666,667
97,200,000
104,634,300
186,000,000
145,000,000
-32,000,000
118,000,000
69,000,000
102,000,000
65,000,000
140,147,000
139,328,000
113,868,000
Free Cash Flow Margin
3.23%
3.26%
3.86%
5.75%
5.13%
-1.19%
4.10%
2.48%
3.76%
2.79%
4.25%
4.94%
6.56%

Free Cash Flow Margins

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312008-03-312007-03-312006-03-31
Revenue
2,917,666,667
2,882,000,000
2,730,902,900
3,234,000,000
2,826,000,000
2,693,000,000
2,879,000,000
2,778,000,000
2,714,000,000
2,333,000,000
3,295,384,000
2,821,113,000
1,735,532,000
EBITDA
437,666,667
367,000,000
328,043,100
376,000,000
313,000,000
624,000,000
293,000,000
229,000,000
211,000,000
169,000,000
438,567,000
385,169,000
241,695,000
EBITDA Margin
15.29%
12.86%
12.02%
11.63%
11.08%
23.17%
10.18%
8.24%
7.77%
7.24%
13.31%
13.65%
13.93%
(-) Tax Adjustment
84,796,645
75,397,058
71,379,794
72,636,364
39,125,000
142,628,571
67,390,000
55,205,357
44,421,053
-69,588,235
146,176,201
122,751,506
93,052,128
(-) Tax Adjustment Margin
2.98%
2.65%
2.61%
2.25%
1.38%
5.30%
2.34%
1.99%
1.64%
-2.98%
4.44%
4.35%
5.36%
(-) Change In Working Capital
-58,333,333
-57,200,000
-38,496,100
-79,000,000
-14,000,000
-82,000,000
-65,000,000
-46,000,000
16,000,000
-18,000,000
-60,507,000
-37,673,000
1,219,000
(-) Change In Working Capital Margin
-1.99%
-1.98%
-1.32%
-2.44%
-0.50%
-3.04%
-2.26%
-1.66%
0.59%
-0.77%
-1.84%
-1.34%
0.07%
(-) Capital Expenditure
-70,000,000
-65,200,000
-59,141,500
-85,000,000
-60,000,000
-65,000,000
-60,000,000
-56,000,000
-55,000,000
-40,000,000
-71,314,000
-55,907,000
-43,194,000
(-) Capital Expenditure Margin
-2.39%
-2.25%
-2.16%
-2.63%
-2.12%
-2.41%
-2.08%
-2.02%
-2.03%
-1.71%
-2.16%
-1.98%
-2.49%
Unlevered Free Cash Flow
341,203,355
283,602,942
236,017,906
297,363,636
227,875,000
498,371,429
230,610,000
163,794,643
95,578,947
216,588,235
281,583,799
244,183,494
104,229,872
Unlevered Free Cash Flow Margin
11.92%
9.93%
8.57%
9.19%
8.06%
18.51%
8.01%
5.90%
3.52%
9.28%
8.54%
8.66%
6.01%
(-) Net Interest Income After Taxes
-24,890,584
-30,038,636
-47,080,454
-16,943,182
-31,500,000
-26,228,571
-26,950,000
-48,571,429
-51,315,789
-81,882,353
-72,246,496
-80,829,322
-34,337,398
(-) Net Interest Income After Taxes Margin
-0.87%
-1.06%
-1.77%
-0.52%
-1.11%
-0.97%
-0.94%
-1.75%
-1.89%
-3.51%
-2.19%
-2.87%
-1.98%
Net Debt Issuance
-12,333,333
-30,200,000
65,703,400
-43,000,000
8,000,000
-2,000,000
-38,000,000
-76,000,000
1,000,000
-17,000,000
-155,458,000
-44,267,000
1,023,759,000
Net Debt Issuance Margin
-0.37%
-1.04%
4.68%
-1.33%
0.28%
-0.07%
-1.32%
-2.74%
0.04%
-0.73%
-4.72%
-1.57%
58.99%
Levered Free Cash Flow
353,760,606
283,441,578
348,801,760
271,306,818
267,375,000
522,600,000
219,560,000
136,366,071
147,894,737
281,470,588
198,372,295
280,745,815
1,162,326,271
Levered Free Cash Flow Margin
12.42%
9.96%
15.02%
8.39%
9.46%
19.41%
7.63%
4.91%
5.45%
12.06%
6.02%
9.95%
66.97%