EnerSys (ENS)

Analysis: Margins & Ratios Industry: Electrical Equipment & Parts Sector: Industrials Live Price: $168.15

Income Statement Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	TTM	TTM-1	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	3,636,009,667	3,448,656,000	3,040,424,800	2,793,971,400	2,513,810,100	3,725,304,000	3,508,854,000	3,617,579,000	3,581,871,000	3,708,579,000	3,357,319,000	2,977,932,000	3,087,868,000	2,808,000,000	2,581,800,000	2,367,100,000	2,316,200,000	2,505,500,000	2,474,433,000	2,277,559,000	2,283,369,000	1,964,462,000	1,579,385,000	1,972,867,000	2,026,640,000	1,504,474,000	1,283,265,000	1,083,862,000	969,079,000	859,643,000	339,340,000
Cost of Revenue	2,664,198,667	2,567,745,800	2,260,266,900	2,087,037,867	1,896,398,400	2,593,045,000	2,515,371,000	2,525,175,000	2,598,980,000	2,868,441,000	2,607,351,000	2,238,782,000	2,303,002,000	2,114,991,000	1,924,951,000	1,716,524,000	1,704,472,000	1,864,601,000	1,844,813,000	1,708,203,000	1,770,664,000	1,514,618,000	1,218,481,000	1,559,433,000	1,644,753,000	1,193,266,000	1,006,467,000	828,447,000	722,825,000	653,998,000	271,596,000
Cost of Revenue Margin	73.24%	74.51%	74.31%	74.78%	75.84%	69.61%	71.69%	69.80%	72.56%	77.35%	77.66%	75.18%	74.58%	75.32%	74.56%	72.52%	73.59%	74.42%	74.55%	75.00%	77.55%	77.10%	77.15%	79.04%	81.16%	79.31%	78.43%	76.43%	74.59%	76.08%	80.04%
Gross Profit	971,811,000	880,910,200	780,157,900	706,933,533	617,411,700	1,132,259,000	993,483,000	1,092,404,000	982,891,000	840,138,000	749,968,000	739,150,000	784,866,000	693,009,000	656,849,000	650,576,000	611,728,000	640,899,000	629,620,000	569,356,000	512,705,000	449,844,000	360,904,000	413,434,000	381,887,000	311,208,000	276,798,000	255,415,000	246,254,000	205,645,000	67,744,000
Gross Profit Margin	26.76%	25.49%	25.69%	25.22%	24.16%	30.39%	28.31%	30.20%	27.44%	22.65%	22.34%	24.82%	25.42%	24.68%	25.44%	27.48%	26.41%	25.58%	25.45%	25.00%	22.45%	22.90%	22.85%	20.96%	18.84%	20.69%	21.57%	23.57%	25.41%	23.92%	19.96%
R&D Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
R&D Expenses 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%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses	0	0	152,383,900	186,545,467	198,031,900	0	0	0	0	0	0	0	0	428,532,000	382,077,000	360,463,000	352,767,000	358,381,000	344,421,000	312,324,000	0	259,217,000	235,597,000	256,507,000	249,350,000	221,102,000	199,900,000	179,015,000	170,412,000	150,618,000	0
SG&A Expenses Margin	0.00%	0.00%	6.05%	7.71%	9.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	15.26%	14.80%	15.23%	15.23%	14.30%	13.92%	13.71%	0.00%	13.20%	14.92%	13.00%	12.30%	14.70%	15.58%	16.52%	17.58%	17.52%	0.00%
Operating Expenses	606,938,667	577,461,600	502,807,900	440,016,467	387,236,150	679,779,000	629,254,000	627,718,000	631,321,000	561,777,000	543,717,000	522,775,000	594,671,000	441,400,000	382,100,000	369,900,000	352,700,000	358,400,000	344,421,000	312,324,000	297,806,000	259,217,000	232,678,000	245,199,000	249,350,000	217,349,000	199,900,000	179,015,000	191,610,000	150,669,000	53,514,000
Operating Expenses Margin	16.71%	16.78%	16.45%	15.51%	15.11%	18.25%	17.93%	17.35%	17.63%	15.15%	16.19%	17.55%	19.26%	15.72%	14.80%	15.63%	15.23%	14.30%	13.92%	13.71%	13.04%	13.20%	14.73%	12.43%	12.30%	14.45%	15.58%	16.52%	19.77%	17.53%	15.77%
Operating Income (EBIT)	364,872,333	303,448,600	263,513,800	249,169,400	213,791,650	452,480,000	364,229,000	464,686,000	351,570,000	278,361,000	206,251,000	216,375,000	190,195,000	212,500,000	269,300,000	235,900,000	210,000,000	263,400,000	194,510,000	249,868,000	210,811,000	183,814,000	114,297,000	142,445,000	119,346,000	93,859,000	68,345,000	76,400,000	54,644,000	54,976,000	-49,115,000
Operating Income (EBIT) Margin	10.06%	8.72%	8.68%	8.98%	8.33%	12.15%	10.38%	12.85%	9.82%	7.51%	6.14%	7.27%	6.16%	7.57%	10.43%	9.97%	9.07%	10.51%	7.86%	10.97%	9.23%	9.36%	7.24%	7.22%	5.89%	6.24%	5.33%	7.05%	5.64%	6.40%	-14.47%
Interest Income	0	0	0	-543,667	-407,750	3,300,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-8,155,000	0	0	0	0	0	0	0	0	0
Interest Income Margin	0.00%	0.00%	0.00%	-0.03%	-0.02%	0.09%	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%	0.00%	0.00%	-0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	53,533,000	47,362,400	38,089,400	31,658,933	32,663,400	58,801,000	45,971,000	51,116,000	49,954,000	59,529,000	37,777,000	38,436,000	43,673,000	30,868,000	25,001,000	22,197,000	22,343,000	19,644,000	17,105,000	18,719,000	16,484,000	22,038,000	22,658,000	22,646,000	63,835,000	29,955,000	39,290,000	30,041,000	94,506,000	19,027,000	15,038,000
Interest Expense Margin	1.47%	1.37%	1.22%	1.09%	1.36%	1.58%	1.31%	1.41%	1.39%	1.61%	1.13%	1.29%	1.41%	1.10%	0.97%	0.94%	0.96%	0.78%	0.69%	0.82%	0.72%	1.12%	1.43%	1.15%	3.15%	1.99%	3.06%	2.77%	9.75%	2.21%	4.43%
Net Interest Income	-53,533,000	-47,362,400	-38,089,400	-32,202,600	-28,067,350	-55,501,000	-45,971,000	-51,116,000	-49,954,000	-59,529,000	-37,777,000	-38,436,000	-43,673,000	-30,868,000	-25,001,000	-22,197,000	-22,343,000	-19,644,000	-17,105,000	-18,719,000	-16,484,000	-30,193,000	-22,658,000	-26,733,000	-28,917,000	0	0	0	0	0	0
Net Interest Income Margin	-1.47%	-1.37%	-1.22%	-1.12%	-1.05%	-1.49%	-1.31%	-1.41%	-1.39%	-1.61%	-1.13%	-1.29%	-1.41%	-1.10%	-0.97%	-0.94%	-0.96%	-0.78%	-0.69%	-0.82%	-0.72%	-1.54%	-1.43%	-1.36%	-1.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	115,271,667	100,116,000	80,052,000	67,939,000	66,560,950	122,789,000	101,447,000	109,225,000	109,339,000	127,251,000	70,089,000	84,676,000	86,931,000	61,268,000	56,001,000	45,397,000	50,343,000	33,744,000	47,868,000	38,354,000	36,036,000	62,563,000	49,700,000	41,904,000	96,986,000	60,712,000	62,832,000	56,699,000	141,357,000	38,796,000	30,076,000
Unusual Items Margin	3.17%	2.89%	2.57%	2.36%	2.72%	3.30%	2.89%	3.02%	3.05%	3.43%	2.09%	2.84%	2.82%	2.18%	2.17%	1.92%	2.17%	1.35%	1.93%	1.68%	1.58%	3.18%	3.15%	2.12%	4.79%	4.04%	4.90%	5.23%	14.59%	4.51%	8.86%
EBT Excluding Unusual Items	187,862,000	150,579,000	141,499,200	145,494,000	113,740,900	262,403,000	207,306,000	297,352,000	182,846,000	83,388,000	103,850,000	85,459,000	60,006,000	120,832,000	182,299,000	167,303,000	131,657,000	215,556,000	115,879,000	191,879,000	155,223,000	88,881,000	37,555,000	81,283,000	-10,791,000	2,390,000	-18,029,000	-6,957,000	-133,564,000	-3,589,000	-94,229,000
EBT Excluding Unusual Items Margin	5.19%	4.31%	4.76%	5.38%	4.27%	7.04%	5.91%	8.22%	5.10%	2.25%	3.09%	2.87%	1.94%	4.30%	7.06%	7.07%	5.68%	8.60%	4.68%	8.42%	6.80%	4.52%	2.38%	4.12%	-0.53%	0.16%	-1.40%	-0.64%	-13.78%	-0.42%	-27.77%
Pre-Tax Income	303,133,667	250,695,000	221,551,200	213,433,000	180,301,850	385,192,000	308,753,000	406,577,000	292,185,000	210,639,000	173,939,000	170,135,000	146,937,000	182,100,000	238,300,000	212,700,000	182,000,000	249,300,000	163,747,000	230,233,000	191,259,000	151,444,000	87,255,000	123,187,000	86,195,000	63,102,000	44,803,000	49,742,000	7,793,000	35,207,000	-64,153,000
Pre-Tax Income Margin	8.36%	7.19%	7.33%	7.74%	6.99%	10.34%	8.80%	11.24%	8.16%	5.68%	5.18%	5.71%	4.76%	6.49%	9.23%	8.99%	7.86%	9.95%	6.62%	10.11%	8.38%	7.71%	5.52%	6.24%	4.25%	4.19%	3.49%	4.59%	0.80%	4.10%	-18.91%
Income Tax Expense	33,586,667	31,509,800	41,205,500	43,162,267	38,472,650	47,950,000	19,306,000	42,842,000	23,089,000	34,829,000	30,028,000	26,761,000	9,821,000	21,600,000	118,500,000	54,472,000	50,113,000	67,814,000	16,980,000	65,275,000	47,292,000	38,018,000	24,951,000	38,600,000	26,499,000	17,892,000	14,077,000	17,359,000	2,957,000	12,355,000	-7,133,000
Income Tax Expense Margin	0.92%	0.91%	1.47%	1.66%	1.60%	1.29%	0.55%	1.18%	0.64%	0.94%	0.89%	0.90%	0.32%	0.77%	4.59%	2.30%	2.16%	2.71%	0.69%	2.87%	2.07%	1.94%	1.58%	1.96%	1.31%	1.19%	1.10%	1.60%	0.31%	1.44%	-2.10%
Net Income	269,547,000	219,185,200	180,924,200	170,980,467	142,361,500	337,242,000	289,447,000	363,735,000	269,096,000	175,810,000	143,911,000	143,374,000	137,116,000	160,200,000	119,600,000	160,200,000	136,200,000	181,200,000	150,328,000	166,508,000	144,003,000	113,426,000	62,304,000	84,587,000	59,696,000	45,210,000	30,726,000	32,383,000	4,836,000	22,852,000	-41,982,000
Net Income Margin	7.44%	6.28%	5.88%	6.10%	5.41%	9.05%	8.25%	10.05%	7.51%	4.74%	4.29%	4.81%	4.44%	5.71%	4.63%	6.77%	5.88%	7.23%	6.08%	7.31%	6.31%	5.77%	3.94%	4.29%	2.95%	3.01%	2.39%	2.99%	0.50%	2.66%	-12.37%
Depreciation and Amortization	94,683,333	94,802,000	78,895,800	69,681,667	63,950,700	107,008,000	95,564,000	100,876,000	92,021,000	91,153,000	95,878,000	94,082,000	87,344,000	63,348,000	54,317,000	53,945,000	55,994,000	57,040,000	53,972,000	50,502,000	50,360,000	44,393,000	44,851,000	49,095,000	49,215,000	47,358,000	43,270,000	41,541,000	39,047,000	38,002,000	61,601,000
Depreciation and Amortization Margin	2.61%	2.77%	2.57%	2.46%	2.56%	2.87%	2.72%	2.79%	2.57%	2.46%	2.86%	3.16%	2.83%	2.26%	2.10%	2.28%	2.42%	2.28%	2.18%	2.22%	2.21%	2.26%	2.84%	2.49%	2.43%	3.15%	3.37%	3.83%	4.03%	4.42%	18.15%
EBITDA	451,350,000	392,859,400	339,243,300	315,703,400	274,691,350	551,001,000	450,288,000	558,569,000	434,160,000	361,321,000	307,594,000	302,653,000	277,954,000	276,427,000	320,644,000	290,937,000	262,174,000	327,323,000	235,824,000	300,854,000	258,103,000	221,014,000	147,705,000	191,296,000	164,915,000	141,217,000	113,143,000	117,941,000	92,860,000	92,956,000	14,230,000
EBITDA Margin	12.43%	11.33%	11.15%	11.32%	10.76%	14.79%	12.83%	15.44%	12.12%	9.74%	9.16%	10.16%	9.00%	9.84%	12.42%	12.29%	11.32%	13.06%	9.53%	13.21%	11.30%	11.25%	9.35%	9.70%	8.14%	9.39%	8.82%	10.88%	9.58%	10.81%	4.19%
NOPAT	323,947,807	264,965,803	215,265,419	199,608,350	168,516,086	396,153,763	341,454,144	415,720,914	323,788,287	232,334,218	170,644,810	182,340,784	177,482,714	187,294,069	135,384,557	175,486,531	152,177,308	191,750,551	174,339,983	179,026,141	158,684,440	137,669,942	81,613,206	97,810,607	82,655,361	67,246,132	46,871,158	49,737,871	33,909,712	35,683,573	-43,654,035
NOPAT Margin	8.93%	7.60%	6.96%	7.08%	6.42%	10.63%	9.73%	11.49%	9.04%	6.26%	5.08%	6.12%	5.75%	6.67%	5.24%	7.41%	6.57%	7.65%	7.05%	7.86%	6.95%	7.01%	5.17%	4.96%	4.08%	4.47%	3.65%	4.59%	3.50%	4.15%	-12.86%
Owner's Earnings	265,481,333	225,925,600	181,031,100	168,816,933	140,962,750	335,776,000	267,942,000	343,573,000	274,680,000	178,191,000	165,748,000	167,436,000	123,035,000	153,176,000	104,085,000	164,073,000	136,314,000	174,615,000	142,305,000	161,724,000	145,420,000	97,879,000	62,044,000	76,539,000	63,874,000	50,213,000	34,331,000	42,096,000	15,303,000	37,224,000	-54,926,000
Owner's Earnings Margin	7.32%	6.51%	5.88%	6.00%	5.35%	9.01%	7.64%	9.50%	7.67%	4.80%	4.94%	5.62%	3.98%	5.45%	4.03%	6.93%	5.89%	6.97%	5.75%	7.10%	6.37%	4.98%	3.93%	3.88%	3.15%	3.34%	2.68%	3.88%	1.58%	4.33%	-16.19%

Balance Sheet Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	3,636,009,667	3,448,656,000	3,040,424,800	2,793,971,400	2,513,810,100	3,617,579,000	3,581,871,000	3,708,579,000	3,357,319,000	2,977,932,000	3,087,868,000	2,808,000,000	2,581,800,000	2,367,100,000	2,316,200,000	2,505,500,000	2,474,433,000	2,277,559,000	2,283,369,000	1,964,462,000	1,579,385,000	1,972,867,000	2,026,640,000	1,504,474,000	1,283,265,000	1,083,862,000	969,079,000	859,643,000	339,340,000
Cash & Cash Equivalents	341,040,000	375,483,200	392,336,100	330,072,800	269,445,850	343,131,000	333,324,000	346,665,000	402,488,000	451,808,000	326,979,000	299,212,000	522,118,000	500,329,000	397,307,000	268,921,000	240,103,000	249,348,000	160,490,000	108,869,000	201,042,000	163,161,000	20,620,000	37,785,000	15,217,000	21,341,000	17,207,000	44,296,000	9,075,000
Cash & Cash Equivalents Margin	9.38%	11.06%	13.51%	11.93%	10.24%	9.49%	9.31%	9.35%	11.99%	15.17%	10.59%	10.66%	20.22%	21.14%	17.15%	10.73%	9.70%	10.95%	7.03%	5.54%	12.73%	8.27%	1.02%	2.51%	1.19%	1.97%	1.78%	5.15%	2.67%
Short-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	341,040,000	375,483,200	392,336,100	330,072,800	269,445,850	343,131,000	333,324,000	346,665,000	402,488,000	451,808,000	326,979,000	299,212,000	522,118,000	500,329,000	397,307,000	268,921,000	240,103,000	249,348,000	160,490,000	108,869,000	201,042,000	163,161,000	20,620,000	37,785,000	15,217,000	21,341,000	17,207,000	44,296,000	9,075,000
Cash & Short-Term Investments Margin	9.38%	11.06%	13.51%	11.93%	10.24%	9.49%	9.31%	9.35%	11.99%	15.17%	10.59%	10.66%	20.22%	21.14%	17.15%	10.73%	9.70%	10.95%	7.03%	5.54%	12.73%	8.27%	1.02%	2.51%	1.19%	1.97%	1.78%	5.15%	2.67%
Net Receivables	651,337,667	682,199,600	627,408,700	584,452,467	533,977,700	676,390,000	584,212,000	693,411,000	796,028,000	660,957,000	654,301,000	673,737,000	550,412,000	490,964,000	493,675,000	522,215,000	569,019,000	454,164,000	475,016,000	472,286,000	383,641,000	356,200,000	503,013,000	361,288,000	308,625,000	254,267,000	231,642,000	189,014,000	0
Net Receivables Margin	17.90%	19.92%	20.82%	21.12%	21.60%	18.70%	16.31%	18.70%	23.71%	22.20%	21.19%	23.99%	21.32%	20.74%	21.31%	20.84%	23.00%	19.94%	20.80%	24.04%	24.29%	18.05%	24.82%	24.01%	24.05%	23.46%	23.90%	21.99%	0.00%
Inventory	745,163,333	693,889,800	559,878,700	489,890,800	428,082,700	739,994,000	697,698,000	797,798,000	715,712,000	518,247,000	519,460,000	503,869,000	414,234,000	360,694,000	331,081,000	337,011,000	361,846,000	353,941,000	361,774,000	335,003,000	254,371,000	209,329,000	335,729,000	234,326,000	179,537,000	146,047,000	131,712,000	106,998,000	0
Inventory Margin	20.48%	20.03%	18.05%	17.13%	16.49%	20.46%	19.48%	21.51%	21.32%	17.40%	16.82%	17.94%	16.04%	15.24%	14.29%	13.45%	14.62%	15.54%	15.84%	17.05%	16.11%	10.61%	16.57%	15.58%	13.99%	13.47%	13.59%	12.45%	0.00%
Other Current Assets	50,119,667	45,013,800	34,186,700	41,067,333	36,691,300	62,126,000	53,087,000	35,146,000	46,218,000	28,492,000	26,034,000	27,732,000	21,319,000	22,120,000	19,593,000	55,463,000	80,850,000	51,839,000	42,940,000	43,051,000	16,378,000	31,437,000	16,848,000	32,815,000	20,338,000	29,489,000	29,159,000	33,738,000	0
Other Current Assets Margin	1.38%	1.30%	1.09%	1.52%	1.50%	1.72%	1.48%	0.95%	1.38%	0.96%	0.84%	0.99%	0.83%	0.93%	0.85%	2.21%	3.27%	2.28%	1.88%	2.19%	1.04%	1.59%	0.83%	2.18%	1.58%	2.72%	3.01%	3.92%	0.00%
Total Current Assets	1,922,797,000	1,890,580,200	1,680,719,500	1,504,259,733	1,318,538,950	2,089,814,000	1,782,696,000	1,895,881,000	1,993,193,000	1,691,317,000	1,562,905,000	1,536,648,000	1,539,587,000	1,418,915,000	1,296,239,000	1,233,418,000	1,300,700,000	1,152,962,000	1,071,673,000	997,948,000	895,281,000	778,418,000	911,196,000	674,293,000	547,695,000	467,617,000	423,703,000	383,153,000	9,075,000
Total Current Assets Margin	52.89%	54.96%	55.57%	53.72%	51.72%	57.77%	49.77%	51.12%	59.37%	56.80%	50.61%	54.72%	59.63%	59.94%	55.96%	49.23%	52.57%	50.62%	46.93%	50.80%	56.69%	39.46%	44.96%	44.82%	42.68%	43.14%	43.72%	44.57%	2.67%
Property, Plant & Equipment	571,526,333	542,979,800	470,057,000	431,687,733	400,727,900	592,433,000	608,863,000	513,283,000	503,264,000	497,056,000	480,014,000	409,439,000	390,260,000	348,549,000	357,409,000	356,854,000	370,166,000	350,126,000	353,215,000	344,385,000	315,141,000	301,365,000	339,997,000	300,995,000	281,744,000	279,868,000	284,850,000	275,659,000	0
Property, Plant & Equipment Margin	15.74%	15.78%	15.43%	15.46%	16.29%	16.38%	17.00%	13.84%	14.99%	16.69%	15.55%	14.58%	15.12%	14.72%	15.43%	14.24%	14.96%	15.37%	15.47%	17.53%	19.95%	15.28%	16.78%	20.01%	21.96%	25.82%	29.39%	32.07%	0.00%
Goodwill	693,574,000	697,391,000	584,229,900	511,620,733	464,665,200	721,073,000	682,934,000	676,715,000	700,640,000	705,593,000	663,936,000	656,399,000	352,805,000	328,657,000	353,547,000	369,730,000	426,056,000	345,499,000	347,061,000	343,666,000	317,265,000	301,658,000	358,429,000	332,874,000	308,767,000	310,679,000	0	0	0
Goodwill Margin	19.08%	20.36%	18.95%	17.96%	18.43%	19.93%	19.07%	18.25%	20.87%	23.69%	21.50%	23.38%	13.67%	13.88%	15.26%	14.76%	17.22%	15.17%	15.20%	17.49%	20.09%	15.29%	17.69%	22.13%	24.06%	28.66%	0.00%	0.00%	0.00%
Intangible Assets	351,749,667	376,469,800	326,110,900	260,089,533	215,626,650	375,430,000	319,407,000	360,412,000	396,202,000	430,898,000	455,685,000	462,316,000	147,141,000	153,960,000	159,658,000	158,160,000	172,472,000	103,701,000	107,082,000	98,819,000	90,136,000	79,544,000	80,139,000	80,540,000	80,831,000	75,462,000	382,320,000	371,246,000	0
Intangible Assets Margin	9.67%	11.06%	10.56%	8.88%	7.93%	10.38%	8.92%	9.72%	11.80%	14.47%	14.76%	16.46%	5.70%	6.50%	6.89%	6.31%	6.97%	4.55%	4.69%	5.03%	5.71%	4.03%	3.95%	5.35%	6.30%	6.96%	39.45%	43.19%	0.00%
Long-Term Investments	900,333	540,200	1,054,100	702,733	527,050	5,000	2,696,000	0	0	0	0	7,840,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments Margin	0.03%	0.02%	0.04%	0.02%	0.02%	0.00%	0.08%	0.00%	0.00%	0.00%	0.00%	0.28%	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%	0.00%	0.00%	0.00%	0.00%
Tax Assets	57,914,333	59,886,800	50,522,200	40,877,800	32,699,100	74,793,000	49,798,000	49,152,000	60,479,000	65,212,000	55,803,000	40,466,000	44,402,000	31,587,000	33,530,000	28,547,000	33,446,000	14,168,000	15,999,000	15,785,000	10,744,000	12,881,000	3,347,000	0	13,843,000	25,998,000	26,025,000	17,634,000	0
Tax Assets Margin	1.59%	1.75%	1.65%	1.41%	1.19%	2.07%	1.39%	1.33%	1.80%	2.19%	1.81%	1.44%	1.72%	1.33%	1.45%	1.14%	1.35%	0.62%	0.70%	0.80%	0.68%	0.65%	0.17%	0.00%	1.08%	2.40%	2.69%	2.05%	0.00%
Other Non-Current Assets	86,181,000	82,826,400	54,076,800	43,304,533	38,092,400	117,700,000	19,612,000	121,231,000	82,868,000	72,721,000	83,355,000	5,085,000	12,730,000	11,361,000	14,105,000	16,338,000	19,018,000	21,411,000	24,249,000	27,784,000	23,443,000	19,776,000	17,682,000	20,311,000	31,068,000	35,137,000	34,170,000	28,116,000	0
Other Non-Current Assets Margin	2.36%	2.40%	1.64%	1.42%	1.42%	3.25%	0.55%	3.27%	2.47%	2.44%	2.70%	0.18%	0.49%	0.48%	0.61%	0.65%	0.77%	0.94%	1.06%	1.41%	1.48%	1.00%	0.87%	1.35%	2.42%	3.24%	3.53%	3.27%	0.00%
Other Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	978,889,000
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%	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%	0.00%	0.00%	0.00%	0.00%	288.47%
Total Non-Current Assets	1,761,845,667	1,760,094,000	1,486,050,900	1,288,283,067	1,152,338,300	1,881,434,000	1,683,310,000	1,720,793,000	1,743,453,000	1,771,480,000	1,738,793,000	1,581,545,000	947,338,000	874,114,000	918,249,000	929,629,000	1,021,158,000	834,905,000	847,606,000	830,439,000	756,729,000	715,224,000	799,594,000	734,720,000	716,253,000	727,144,000	727,365,000	692,655,000	0
Total Non-Current Assets Margin	48.47%	51.36%	48.27%	45.14%	45.27%	52.01%	47.00%	46.40%	51.93%	59.49%	56.31%	56.32%	36.69%	36.93%	39.64%	37.10%	41.27%	36.66%	37.12%	42.27%	47.91%	36.25%	39.45%	48.84%	55.81%	67.09%	75.06%	80.57%	0.00%
Total Assets	3,684,642,667	3,650,674,200	3,166,770,400	2,792,542,800	2,470,877,250	3,971,248,000	3,466,006,000	3,616,674,000	3,736,646,000	3,462,797,000	3,301,698,000	3,118,193,000	2,486,925,000	2,293,029,000	2,214,488,000	2,163,047,000	2,321,858,000	1,987,867,000	1,919,279,000	1,828,387,000	1,652,010,000	1,493,642,000	1,710,790,000	1,409,013,000	1,263,948,000	1,194,761,000	1,151,068,000	1,075,808,000	978,889,000
Total Assets Margin	101.35%	106.33%	103.84%	98.87%	96.99%	109.78%	96.77%	97.52%	111.30%	116.28%	106.92%	111.05%	96.33%	96.87%	95.61%	86.33%	93.83%	87.28%	84.05%	93.07%	104.60%	75.71%	84.42%	93.65%	98.49%	110.23%	118.78%	125.15%	288.47%
Accounts Payable	384,597,000	374,152,600	315,500,200	292,281,933	266,431,950	405,694,000	369,456,000	378,641,000	393,096,000	323,876,000	281,873,000	292,449,000	258,982,000	222,493,000	228,442,000	218,574,000	259,484,000	249,359,000	249,996,000	251,814,000	198,345,000	127,586,000	260,530,000	200,157,000	157,792,000	117,944,000	113,043,000	94,999,000	0
Accounts Payable Margin	10.58%	10.86%	10.32%	10.47%	10.73%	11.21%	10.31%	10.21%	11.71%	10.88%	9.13%	10.41%	10.03%	9.40%	9.86%	8.72%	10.49%	10.95%	10.95%	12.82%	12.56%	6.47%	12.86%	13.30%	12.30%	10.88%	11.66%	11.05%	0.00%
Short-Term Debt	29,862,667	35,765,000	33,895,000	29,249,467	29,551,700	28,502,000	30,444,000	30,642,000	55,084,000	34,153,000	46,544,000	54,490,000	18,430,000	18,428,000	22,233,000	19,952,000	33,814,000	23,013,000	18,991,000	4,022,000	26,738,000	32,665,000	54,081,000	22,645,000	16,163,000	14,100,000	11,876,000	16,571,000	0
Short-Term Debt Margin	0.82%	1.05%	1.12%	1.02%	1.21%	0.79%	0.85%	0.83%	1.64%	1.15%	1.51%	1.94%	0.71%	0.78%	0.96%	0.80%	1.37%	1.01%	0.83%	0.20%	1.69%	1.66%	2.67%	1.51%	1.26%	1.30%	1.23%	1.93%	0.00%
Tax Payables	25,649,333	24,151,400	26,047,700	27,462,933	20,597,200	36,759,000	16,716,000	23,473,000	17,687,000	26,122,000	20,685,000	31,649,000	40,651,000	25,088,000	21,647,000	26,378,000	39,905,000	29,711,000	27,945,000	27,528,000	0	0	0	0	0	0	0	0	0
Tax Payables Margin	0.71%	0.70%	0.89%	1.03%	0.77%	1.02%	0.47%	0.63%	0.53%	0.88%	0.67%	1.13%	1.57%	1.06%	0.93%	1.05%	1.61%	1.30%	1.22%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	30,354,667	26,985,200	19,731,800	16,486,533	12,364,900	28,821,000	27,649,000	34,594,000	27,870,000	15,992,000	17,342,000	15,162,000	9,387,000	10,661,000	9,840,000	12,188,000	10,839,000	7,789,000	12,057,000	7,107,000	0	0	0	0	0	0	0	0	0
Deferred Revenue Margin	0.83%	0.77%	0.62%	0.56%	0.42%	0.80%	0.77%	0.93%	0.83%	0.54%	0.56%	0.54%	0.36%	0.45%	0.42%	0.49%	0.44%	0.34%	0.53%	0.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	75,885,667	54,032,600	83,456,700	86,396,200	91,345,200	28,090,000	175,341,000	24,226,000	22,010,000	20,496,000	29,116,000	170,703,000	112,281,000	133,175,000	119,129,000	107,493,000	24,399,000	104,892,000	95,308,000	129,284,000	117,292,000	137,076,000	145,638,000	128,320,000	2,635,000	89,438,000	-1,942,000	1,478,000	0
Other Current Liabilities Margin	2.11%	1.53%	2.98%	3.36%	4.04%	0.78%	4.90%	0.65%	0.66%	0.69%	0.94%	6.08%	4.35%	5.63%	5.14%	4.29%	0.99%	4.61%	4.17%	6.58%	7.43%	6.95%	7.19%	8.53%	0.21%	8.25%	-0.20%	0.17%	0.00%
Total Current Liabilities	739,081,667	726,472,600	625,574,700	577,463,533	534,296,050	775,068,000	723,857,000	718,320,000	738,130,000	676,988,000	600,319,000	612,933,000	491,530,000	467,431,000	451,171,000	433,371,000	581,403,000	467,559,000	460,301,000	463,572,000	419,513,000	348,437,000	521,716,000	398,041,000	336,261,000	285,440,000	288,976,000	247,797,000	0
Total Current Liabilities Margin	20.33%	21.14%	20.53%	20.69%	21.65%	21.43%	20.21%	19.37%	21.99%	22.73%	19.44%	21.83%	19.04%	19.75%	19.48%	17.30%	23.50%	20.53%	20.16%	23.60%	26.56%	17.66%	25.74%	26.46%	26.20%	26.34%	29.82%	28.83%	0.00%
Long-Term Debt	975,831,667	1,028,023,000	899,024,000	694,271,800	612,764,600	1,083,541,000	801,965,000	1,041,989,000	1,243,002,000	969,618,000	1,104,731,000	971,756,000	579,535,000	587,705,000	606,398,000	495,936,000	287,887,000	155,476,000	236,589,000	247,949,000	322,168,000	384,553,000	371,685,000	378,667,000	384,142,000	358,613,000	496,200,000	231,844,000	0
Long-Term Debt Margin	26.81%	30.00%	29.39%	23.67%	23.42%	29.95%	22.39%	28.10%	37.02%	32.56%	35.78%	34.61%	22.45%	24.83%	26.18%	19.79%	11.63%	6.83%	10.36%	12.62%	20.40%	19.49%	18.34%	25.17%	29.93%	33.09%	51.20%	26.97%	0.00%
Capital Lease Obligations	64,557,333	66,410,200	41,582,600	28,026,067	21,395,550	90,247,000	81,851,000	21,574,000	73,406,000	64,973,000	72,912,000	10,288,000	144,000	165,000	266,000	274,000	599,000	514,000	930,000	2,248,000	2,230,000	1,118,000	988,000	999,000	2,185,000	2,744,000	3,227,000	3,747,000	0
Capital Lease Obligations Margin	1.79%	1.95%	1.25%	0.85%	0.66%	2.49%	2.29%	0.58%	2.19%	2.18%	2.36%	0.37%	0.01%	0.01%	0.01%	0.01%	0.02%	0.02%	0.04%	0.11%	0.14%	0.06%	0.05%	0.07%	0.17%	0.25%	0.33%	0.44%	0.00%
Deferred Tax Liabilities	37,547,333	53,456,400	55,329,500	67,063,067	63,407,000	17,641,000	33,883,000	61,118,000	78,228,000	76,412,000	78,363,000	82,112,000	33,607,000	45,923,000	46,008,000	99,398,000	101,149,000	88,036,000	84,479,000	79,589,000	70,023,000	48,963,000	44,161,000	43,690,000	55,357,000	69,495,000	60,952,000	69,664,000	0
Deferred Tax Liabilities Margin	1.03%	1.60%	1.87%	2.56%	2.73%	0.49%	0.95%	1.65%	2.33%	2.57%	2.54%	2.92%	1.30%	1.94%	1.99%	3.97%	4.09%	3.87%	3.70%	4.05%	4.43%	2.48%	2.18%	2.90%	4.31%	6.41%	6.29%	8.10%	0.00%
Other Non-Current Liabilities	126,898,333	132,270,400	128,537,700	112,008,133	100,733,050	105,084,000	85,936,000	189,675,000	129,489,000	151,168,000	154,245,000	138,600,000	172,309,000	78,576,000	80,295,000	97,212,000	74,213,000	83,930,000	86,374,000	53,016,000	54,502,000	115,807,000	80,697,000	42,718,000	40,815,000	40,819,000	62,411,000	57,009,000	0
Other Non-Current Liabilities Margin	3.47%	3.87%	4.27%	3.99%	3.96%	2.90%	2.40%	5.11%	3.86%	5.08%	5.00%	4.94%	6.67%	3.32%	3.47%	3.88%	3.00%	3.69%	3.78%	2.70%	3.45%	5.87%	3.98%	2.84%	3.18%	3.77%	6.44%	6.63%	0.00%
Total Non-Current Liabilities	1,185,414,000	1,260,743,200	1,117,067,400	896,795,933	792,356,650	1,276,692,000	985,077,000	1,294,473,000	1,505,241,000	1,242,233,000	1,397,317,000	1,219,243,000	794,284,000	717,229,000	738,885,000	676,950,000	470,506,000	333,930,000	414,057,000	385,822,000	448,273,000	500,817,000	497,531,000	466,074,000	482,499,000	471,671,000	622,790,000	362,264,000	0
Total Non-Current Liabilities Margin	32.57%	36.85%	36.59%	30.96%	30.56%	35.29%	27.50%	34.90%	44.83%	41.71%	45.25%	43.42%	30.76%	30.30%	31.90%	27.02%	19.01%	14.66%	18.13%	19.64%	28.38%	25.39%	24.55%	30.98%	37.60%	43.52%	64.27%	42.14%	0.00%
Total Liabilities	1,924,495,667	1,987,215,800	1,742,642,100	1,474,259,467	1,326,652,700	2,051,760,000	1,708,934,000	2,012,793,000	2,243,371,000	1,919,221,000	1,997,636,000	1,832,176,000	1,285,814,000	1,184,660,000	1,190,056,000	1,110,321,000	1,051,909,000	801,489,000	874,358,000	849,394,000	867,786,000	849,254,000	1,019,247,000	864,115,000	818,760,000	757,111,000	911,766,000	610,061,000	564,035,000
Total Liabilities Margin	52.90%	57.99%	57.11%	51.65%	52.21%	56.72%	47.71%	54.27%	66.82%	64.45%	64.69%	65.25%	49.80%	50.05%	51.38%	44.32%	42.51%	35.19%	38.29%	43.24%	54.94%	43.05%	50.29%	57.44%	63.80%	69.85%	94.09%	70.97%	166.22%
Preferred Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,000	7,000	7,000
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%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Stock	564,000	560,800	553,400	544,800	530,100	568,000	564,000	560,000	557,000	555,000	551,000	548,000	546,000	544,000	541,000	537,000	532,000	529,000	522,000	518,000	504,000	498,000	491,000	471,000	466,000	462,000	110,000	110,000	0
Common Stock Margin	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.03%	0.03%	0.03%	0.02%	0.03%	0.04%	0.04%	0.01%	0.01%	0.00%
Retained Earnings	2,194,409,333	2,007,313,000	1,669,350,500	1,349,621,133	1,055,220,800	2,489,200,000	2,163,880,000	1,930,148,000	1,783,586,000	1,669,751,000	1,556,980,000	1,450,325,000	1,320,549,000	1,231,444,000	1,097,642,000	997,376,000	848,414,000	727,347,000	560,839,000	416,836,000	303,410,000	243,763,000	159,176,000	99,480,000	54,270,000	23,544,000	-8,839,000	-8,675,000	0
Retained Earnings Margin	60.42%	58.09%	54.31%	46.33%	37.26%	68.81%	60.41%	52.05%	53.13%	56.07%	50.42%	51.65%	51.15%	52.02%	47.39%	39.81%	34.29%	31.94%	24.56%	21.22%	19.21%	12.36%	7.85%	6.61%	4.23%	2.17%	-0.91%	-1.01%	0.00%
Accumulated OCI	-211,934,667	-179,036,400	-154,476,000	-90,397,467	-46,678,350	-247,479,000	-204,851,000	-183,474,000	-143,495,000	-115,883,000	-215,006,000	-142,682,000	-41,717,000	-152,824,000	-97,349,000	-108,975,000	67,845,000	40,655,000	74,093,000	115,180,000	67,204,000	34,055,000	162,913,000	103,034,000	55,189,000	83,415,000	59,258,000	27,172,000	0
Accumulated OCI Margin	-5.84%	-5.13%	-5.00%	-2.71%	-0.78%	-6.84%	-5.72%	-4.95%	-4.27%	-3.89%	-6.96%	-5.08%	-1.62%	-6.46%	-4.20%	-4.35%	2.74%	1.79%	3.24%	5.86%	4.26%	1.73%	8.04%	6.85%	4.30%	7.70%	6.11%	3.16%	0.00%
Minority Interest	3,479,667	3,632,400	4,707,900	7,191,600	5,750,000	3,410,000	3,427,000	3,602,000	3,902,000	3,821,000	3,537,000	3,730,000	5,436,000	4,913,000	11,301,000	12,496,000	13,934,000	16,977,000	12,726,000	4,662,000	4,327,000	0	0	2,799,000	0	0	0	0	0
Minority Interest Margin	0.10%	0.11%	0.17%	0.29%	0.24%	0.09%	0.10%	0.10%	0.12%	0.13%	0.11%	0.13%	0.21%	0.21%	0.49%	0.50%	0.56%	0.75%	0.56%	0.24%	0.27%	0.00%	0.00%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Shareholders’ Equity	1,756,667,333	1,659,826,000	1,419,420,400	1,311,091,733	1,138,474,550	1,916,078,000	1,753,645,000	1,600,279,000	1,489,373,000	1,539,755,000	1,300,525,000	1,282,287,000	1,195,675,000	1,103,456,000	1,013,131,000	1,040,230,000	1,256,015,000	1,169,401,000	1,032,195,000	974,331,000	779,897,000	644,388,000	691,543,000	542,099,000	445,188,000	437,650,000	239,302,000	465,747,000	414,854,000
Total Shareholders’ Equity Margin	48.36%	48.23%	46.56%	46.93%	44.55%	52.97%	48.96%	43.15%	44.36%	51.71%	42.12%	45.67%	46.31%	46.62%	43.74%	41.52%	50.76%	51.34%	45.20%	49.60%	49.38%	32.66%	34.12%	36.03%	34.69%	40.38%	24.69%	54.18%	122.25%
Total Equity	1,760,147,000	1,663,458,400	1,424,128,300	1,318,283,333	1,144,224,550	1,919,488,000	1,757,072,000	1,603,881,000	1,493,275,000	1,543,576,000	1,304,062,000	1,286,017,000	1,201,111,000	1,108,369,000	1,024,432,000	1,052,726,000	1,269,949,000	1,186,378,000	1,044,921,000	978,993,000	784,224,000	644,388,000	691,543,000	544,898,000	445,188,000	437,650,000	239,302,000	465,747,000	414,854,000
Total Equity Margin	48.45%	48.33%	46.73%	47.22%	44.78%	53.06%	49.05%	43.25%	44.48%	51.83%	42.23%	45.80%	46.52%	46.82%	44.23%	42.02%	51.32%	52.09%	45.76%	49.84%	49.65%	32.66%	34.12%	36.22%	34.69%	40.38%	24.69%	54.18%	122.25%
Total Liabilities & Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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%	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%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Investments	900,333	540,200	1,054,100	702,733	527,050	5,000	2,696,000	0	0	0	0	7,840,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Investments Margin	0.03%	0.02%	0.04%	0.02%	0.02%	0.00%	0.08%	0.00%	0.00%	0.00%	0.00%	0.28%	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%	0.00%	0.00%	0.00%	0.00%
Net Debt	729,211,667	754,715,000	582,113,500	421,307,933	394,075,500	859,159,000	580,936,000	747,540,000	969,004,000	616,936,000	897,208,000	737,322,000	75,902,000	105,804,000	231,324,000	247,004,000	82,197,000	-70,859,000	95,611,000	144,531,000	149,444,000	254,514,000	406,134,000	364,526,000	387,273,000	354,116,000	494,096,000	207,866,000	-9,075,000
Net Debt Margin	20.04%	21.94%	18.24%	13.60%	15.04%	23.75%	16.22%	20.16%	28.86%	20.72%	29.06%	26.26%	2.94%	4.47%	9.99%	9.86%	3.32%	-3.11%	4.19%	7.36%	9.46%	12.90%	20.04%	24.23%	30.18%	32.67%	50.99%	24.18%	-2.67%

Capital Metrics

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	3,636,009,667	3,448,656,000	3,040,424,800	2,793,971,400	2,513,810,100	3,617,579,000	3,581,871,000	3,708,579,000	3,357,319,000	2,977,932,000	3,087,868,000	2,808,000,000	2,581,800,000	2,367,100,000	2,316,200,000	2,505,500,000	2,474,433,000	2,277,559,000	2,283,369,000	1,964,462,000	1,579,385,000	1,972,867,000	2,026,640,000	1,504,474,000	1,283,265,000	1,083,862,000	969,079,000	859,643,000	339,340,000
Working Capital	1,183,715,333	1,164,107,600	1,055,144,800	926,796,200	784,242,900	1,314,746,000	1,058,839,000	1,177,561,000	1,255,063,000	1,014,329,000	962,586,000	923,715,000	1,048,057,000	951,484,000	845,068,000	800,047,000	719,297,000	685,403,000	611,372,000	534,376,000	475,768,000	429,981,000	389,480,000	276,252,000	211,434,000	182,177,000	134,727,000	135,356,000	9,075,000
Working Capital Margin	32.55%	33.82%	35.04%	33.03%	30.07%	36.34%	29.56%	31.75%	37.38%	34.06%	31.17%	32.90%	40.59%	40.20%	36.49%	31.93%	29.07%	30.09%	26.77%	27.20%	30.12%	21.79%	19.22%	18.36%	16.48%	16.81%	13.90%	15.75%	2.67%
Total Capital	2,826,919,000	2,790,024,200	2,393,870,000	2,062,472,467	1,801,995,900	3,118,368,000	2,667,905,000	2,694,484,000	2,860,865,000	2,608,499,000	2,524,712,000	2,318,821,000	1,793,695,000	1,709,589,000	1,641,762,000	1,556,155,000	1,578,315,000	1,347,890,000	1,288,296,000	1,227,731,000	1,130,383,000	1,062,063,000	1,118,297,000	944,410,000	847,678,000	813,107,000	750,605,000	717,909,000	414,854,000
Total Capital Margin	77.78%	81.23%	78.31%	72.47%	69.82%	86.20%	74.48%	72.66%	85.21%	87.59%	81.76%	82.58%	69.47%	72.22%	70.88%	62.11%	63.78%	59.18%	56.42%	62.50%	71.57%	53.83%	55.18%	62.77%	66.06%	75.02%	77.46%	83.51%	122.25%
Capital Employed	2,945,561,000	2,924,201,600	2,541,195,700	2,215,079,267	1,936,581,200	3,196,180,000	2,742,149,000	2,898,354,000	2,998,516,000	2,785,809,000	2,701,379,000	2,505,260,000	1,995,395,000	1,825,598,000	1,763,317,000	1,729,676,000	1,740,455,000	1,520,308,000	1,458,978,000	1,364,815,000	1,232,497,000	1,145,205,000	1,189,074,000	1,010,972,000	927,687,000	909,321,000	862,092,000	828,011,000	978,889,000
Capital Employed Margin	81.02%	85.18%	83.32%	78.18%	75.35%	88.35%	76.56%	78.15%	89.31%	93.55%	87.48%	89.22%	77.29%	77.12%	76.13%	69.04%	70.34%	66.75%	63.90%	69.48%	78.04%	58.05%	58.67%	67.20%	72.29%	83.90%	88.96%	96.32%	288.47%
Invested Capital	2,485,879,000	2,414,541,000	2,001,533,900	1,732,399,667	1,532,550,050	2,775,237,000	2,334,581,000	2,347,819,000	2,458,377,000	2,156,691,000	2,197,733,000	2,019,609,000	1,271,577,000	1,209,260,000	1,244,455,000	1,287,234,000	1,338,212,000	1,098,542,000	1,127,806,000	1,118,862,000	929,341,000	898,902,000	1,097,677,000	906,625,000	832,461,000	791,766,000	733,398,000	673,613,000	405,779,000
Invested Capital Margin	68.40%	70.17%	64.80%	60.54%	59.59%	76.72%	65.18%	63.31%	73.22%	72.42%	71.17%	71.92%	49.25%	51.09%	53.73%	51.38%	54.08%	48.23%	49.39%	56.96%	58.84%	45.56%	54.16%	60.26%	64.87%	73.05%	75.68%	78.36%	119.58%

Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	3,636,009,667	3,448,656,000	3,040,424,800	2,793,971,400	2,513,810,100	3,617,579,000	3,581,871,000	3,708,579,000	3,357,319,000	2,977,932,000	3,087,868,000	2,808,000,000	2,581,800,000	2,367,100,000	2,316,200,000	2,505,500,000	2,474,433,000	2,277,559,000	2,283,369,000	1,964,462,000	1,579,385,000	1,972,867,000	2,026,640,000	1,504,474,000	1,283,265,000	1,083,862,000	969,079,000	859,643,000	339,340,000
Net Income	269,547,000	219,185,200	180,354,900	170,279,467	141,835,750	363,735,000	269,096,000	175,810,000	143,911,000	143,374,000	137,116,000	160,627,000	119,833,000	158,223,000	131,824,000	181,525,000	146,767,000	164,958,000	143,967,000	113,426,000	62,304,000	84,587,000	59,696,000	45,210,000	30,726,000	32,383,000	4,836,000	22,852,000	-57,020,000
Net Income Margin	7.44%	6.28%	5.86%	6.07%	5.38%	10.05%	7.51%	4.74%	4.29%	4.81%	4.44%	5.72%	4.64%	6.68%	5.69%	7.25%	5.93%	7.24%	6.31%	5.77%	3.94%	4.29%	2.95%	3.01%	2.39%	2.99%	0.50%	2.66%	-16.80%
Depreciation & Amortization	94,683,333	94,802,000	78,895,800	69,681,667	63,950,700	100,876,000	92,021,000	91,153,000	95,878,000	94,082,000	87,344,000	63,348,000	54,317,000	53,945,000	55,994,000	57,040,000	53,972,000	50,502,000	50,360,000	44,393,000	44,851,000	49,095,000	49,215,000	47,358,000	43,270,000	41,541,000	39,047,000	38,002,000	0
Depreciation & Amortization Margin	2.61%	2.77%	2.57%	2.46%	2.56%	2.79%	2.57%	2.46%	2.86%	3.16%	2.83%	2.26%	2.10%	2.28%	2.42%	2.28%	2.18%	2.22%	2.21%	2.26%	2.84%	2.49%	2.43%	3.15%	3.37%	3.83%	4.03%	4.42%	0.00%
Deferred Income Tax	-25,501,667	-16,876,800	-12,693,700	-9,961,133	-5,536,200	-31,925,000	-29,344,000	-15,236,000	1,115,000	-8,994,000	-16,486,000	-6,456,000	-20,313,000	1,455,000	-753,000	31,886,000	-49,748,000	1,673,000	-3,227,000	-3,064,000	6,975,000	10,258,000	7,972,000	7,970,000	5,518,000	9,907,000	-6,640,000	0	0
Deferred Income Tax Margin	-0.70%	-0.48%	-0.39%	-0.32%	-0.13%	-0.88%	-0.82%	-0.41%	0.03%	-0.30%	-0.53%	-0.23%	-0.79%	0.06%	-0.03%	1.27%	-2.01%	0.07%	-0.14%	-0.16%	0.44%	0.52%	0.39%	0.53%	0.43%	0.91%	-0.69%	0.00%	0.00%
Stock-Based Compensation	28,267,667	21,818,400	21,072,100	19,206,667	15,033,800	27,825,000	30,607,000	26,371,000	24,289,000	0	20,780,000	22,608,000	19,453,000	19,185,000	19,603,000	25,259,000	16,742,000	14,737,000	11,585,000	9,056,000	6,964,000	5,021,000	0	381,000	210,000	210,000	0	0	0
Stock-Based Compensation Margin	0.78%	0.61%	0.69%	0.68%	0.55%	0.77%	0.85%	0.71%	0.72%	0.00%	0.67%	0.81%	0.75%	0.81%	0.85%	1.01%	0.68%	0.65%	0.51%	0.46%	0.44%	0.25%	0.00%	0.03%	0.02%	0.02%	0.00%	0.00%	0.00%
Change in Working Capital	-55,696,333	-82,429,600	-46,516,700	-46,127,400	-40,472,750	-209,800,000	50,979,000	-8,268,000	-346,082,000	101,023,000	-36,397,000	-71,077,000	31,618,000	-34,675,000	57,512,000	-120,662,000	-4,906,000	2,528,000	-4,755,000	-98,949,000	9,464,000	66,729,000	-121,237,000	-32,277,000	-40,223,000	-59,978,000	-33,233,000	-21,412,000	0
Change in Working Capital Margin	-1.53%	-2.30%	-1.30%	-1.54%	-1.52%	-5.80%	1.42%	-0.22%	-10.31%	3.39%	-1.18%	-2.53%	1.22%	-1.46%	2.48%	-4.82%	-0.20%	0.11%	-0.21%	-5.04%	0.60%	3.38%	-5.98%	-2.15%	-3.13%	-5.53%	-3.43%	-2.49%	0.00%
Accounts Receivable	31,463,000	-5,170,800	-802,900	-9,385,200	-6,578,950	-81,795,000	108,631,000	67,553,000	-128,956,000	8,713,000	26,486,000	5,974,000	-32,242,000	-13,535,000	31,142,000	-13,250,000	-70,134,000	5,421,000	7,106,000	-61,892,000	-7,303,000	85,915,000	0	-56,017,000	-13,396,000	-13,396,000	0	0	0
Accounts Receivable Margin	0.86%	-0.19%	-0.04%	-0.42%	-0.36%	-2.26%	3.03%	1.82%	-3.84%	0.29%	0.86%	0.21%	-1.25%	-0.57%	1.34%	-0.53%	-2.83%	0.24%	0.31%	-3.15%	-0.46%	4.35%	0.00%	-3.72%	-1.04%	-1.24%	0.00%	0.00%	0.00%
Inventory	-6,479,000	-41,620,000	-33,329,300	-28,208,533	-24,566,000	1,343,000	75,633,000	-96,413,000	-212,839,000	24,176,000	-9,379,000	-46,614,000	-38,075,000	-42,792,000	11,667,000	-10,153,000	8,144,000	-921,000	-19,655,000	-67,250,000	-23,445,000	90,930,000	-70,278,000	-39,642,000	-25,757,000	-8,205,000	-13,927,000	9,450,000	0
Inventory Margin	-0.15%	-1.20%	-1.07%	-1.01%	-1.01%	0.04%	2.11%	-2.60%	-6.34%	0.81%	-0.30%	-1.66%	-1.47%	-1.81%	0.50%	-0.41%	0.33%	-0.04%	-0.86%	-3.42%	-1.48%	4.61%	-3.47%	-2.63%	-2.01%	-0.76%	-1.44%	1.10%	0.00%
Accounts Payable	5,734,000	20,663,000	11,405,800	7,199,600	5,082,100	36,569,000	-15,131,000	-4,236,000	65,316,000	20,797,000	-33,490,000	9,944,000	21,266,000	845,000	12,178,000	-26,500,000	-14,979,000	5,370,000	-12,377,000	42,422,000	59,116,000	-109,712,000	0	42,531,000	1,713,000	1,713,000	0	0	0
Accounts Payable Margin	0.16%	0.62%	0.38%	0.26%	0.26%	1.01%	-0.42%	-0.11%	1.95%	0.70%	-1.08%	0.35%	0.82%	0.04%	0.53%	-1.06%	-0.61%	0.24%	-0.54%	2.16%	3.74%	-5.56%	0.00%	2.83%	0.13%	0.16%	0.00%	0.00%	0.00%
Other Working Capital	-86,414,333	-56,301,800	-23,790,300	-15,733,267	-14,409,900	-165,917,000	-118,154,000	24,828,000	-69,603,000	47,337,000	-20,014,000	-40,381,000	80,669,000	20,807,000	2,525,000	-70,759,000	72,063,000	-7,342,000	20,171,000	-12,229,000	-18,904,000	-404,000	-50,959,000	20,851,000	-2,783,000	-40,090,000	-19,306,000	-30,862,000	0
Other Working Capital Margin	-2.41%	-1.54%	-0.57%	-0.38%	-0.41%	-4.59%	-3.30%	0.67%	-2.07%	1.59%	-0.65%	-1.44%	3.12%	0.88%	0.11%	-2.82%	2.91%	-0.32%	0.88%	-0.62%	-1.20%	-0.02%	-2.51%	1.39%	-0.22%	-3.70%	-1.99%	-3.59%	0.00%
Other Non-Cash Items	21,121,667	21,511,800	29,483,300	24,861,000	19,716,150	9,587,000	43,670,000	10,108,000	15,304,000	28,890,000	61,041,000	28,805,000	6,140,000	47,897,000	43,391,000	19,423,000	30,794,000	10,002,000	6,266,000	11,597,000	6,044,000	3,747,000	4,464,000	3,782,000	3,371,000	5,290,000	35,182,000	15,996,000	78,088,000
Other Non-Cash Items Margin	0.59%	0.64%	1.03%	0.91%	0.75%	0.27%	1.22%	0.27%	0.46%	0.97%	1.98%	1.03%	0.24%	2.02%	1.87%	0.78%	1.24%	0.44%	0.27%	0.59%	0.38%	0.19%	0.22%	0.25%	0.26%	0.49%	3.63%	1.86%	23.01%
Net Cash from Operating Activities	332,421,667	258,011,000	250,595,700	227,940,267	194,722,850	260,298,000	457,029,000	279,938,000	-65,585,000	358,375,000	253,398,000	197,855,000	211,048,000	246,030,000	307,571,000	194,471,000	193,621,000	244,400,000	204,196,000	76,459,000	136,602,000	219,437,000	4,018,000	72,424,000	42,872,000	29,353,000	39,192,000	55,438,000	21,068,000
Net Cash from Operating Activities Margin	9.17%	7.52%	8.47%	8.26%	7.60%	7.20%	12.76%	7.55%	-1.95%	12.03%	8.21%	7.05%	8.17%	10.39%	13.28%	7.76%	7.82%	10.73%	8.94%	3.89%	8.65%	11.12%	0.20%	4.81%	3.34%	2.71%	4.04%	6.45%	6.21%
Capital Expenditures (PPE)	-98,749,000	-88,061,600	-78,788,900	-71,845,200	-65,349,450	-121,038,000	-86,437,000	-88,772,000	-74,041,000	-70,020,000	-101,425,000	-70,372,000	-69,832,000	-50,072,000	-55,880,000	-63,625,000	-61,995,000	-55,286,000	-48,943,000	-59,940,000	-45,111,000	-57,143,000	-45,037,000	-42,355,000	-39,665,000	-31,828,000	-28,580,000	-23,630,000	-12,944,000
Capital Expenditures (PPE) Margin	-2.72%	-2.54%	-2.57%	-2.56%	-2.61%	-3.35%	-2.41%	-2.39%	-2.21%	-2.35%	-3.28%	-2.51%	-2.70%	-2.12%	-2.41%	-2.54%	-2.51%	-2.43%	-2.14%	-3.05%	-2.86%	-2.90%	-2.22%	-2.82%	-3.09%	-2.94%	-2.95%	-2.75%	-3.81%
Acquisitions (Net)	-71,352,667	-42,776,400	-109,586,300	-88,142,933	-70,896,700	-206,374,000	-8,270,000	586,000	0	176,000	-176,548,000	-654,614,000	-2,988,000	-12,392,000	-35,439,000	2,000,000	-171,528,000	0	-24,553,000	-32,200,000	-33,242,000	0	-17,434,000	-6,979,000	-38,135,000	-1,168,000	0	0	0
Acquisitions (Net) Margin	-1.97%	-1.18%	-3.71%	-3.11%	-2.65%	-5.70%	-0.23%	0.02%	0.00%	0.01%	-5.72%	-23.31%	-0.12%	-0.52%	-1.53%	0.08%	-6.93%	0.00%	-1.08%	-1.64%	-2.10%	0.00%	-0.86%	-0.46%	-2.97%	-0.11%	0.00%	0.00%	0.00%
Purchases of Investments	-3,812,667	-2,287,600	-1,143,800	-762,533	-571,900	-10,852,000	0	-586,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Purchases of Investments Margin	-0.11%	-0.06%	-0.03%	-0.02%	-0.02%	-0.30%	0.00%	-0.02%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	14,461,333	8,676,800	4,338,400	2,892,267	2,169,200	0	0	43,384,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Sales / Maturities of Investments Margin	0.39%	0.23%	0.12%	0.08%	0.06%	0.00%	0.00%	1.17%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	1,561,333	2,858,400	3,003,900	2,287,667	2,364,200	1,870,000	2,228,000	586,000	4,808,000	4,800,000	3,154,000	1,103,000	463,000	631,000	10,396,000	2,009,000	1,518,000	194,000	76,000	479,000	1,109,000	10,333,000	321,000	282,000	924,000	4,005,000	1,599,000	10,707,000	-323,007,000
Other Investing Activities Margin	0.04%	0.09%	0.11%	0.08%	0.10%	0.05%	0.06%	0.02%	0.14%	0.16%	0.10%	0.04%	0.02%	0.03%	0.45%	0.08%	0.06%	0.01%	0.00%	0.02%	0.07%	0.52%	0.02%	0.02%	0.07%	0.37%	0.17%	1.25%	-95.19%
Net Cash from Investing Activities	-157,891,667	-121,590,400	-182,176,700	-155,570,733	-132,284,650	-336,394,000	-92,479,000	-44,802,000	-69,233,000	-65,044,000	-274,819,000	-723,883,000	-72,357,000	-61,833,000	-80,923,000	-59,616,000	-232,005,000	-55,092,000	-73,420,000	-91,661,000	-77,244,000	-46,810,000	-62,150,000	-49,052,000	-76,876,000	-28,991,000	-26,981,000	-12,923,000	-335,951,000
Net Cash from Investing Activities Margin	-4.36%	-3.47%	-6.09%	-5.53%	-5.13%	-9.30%	-2.58%	-1.21%	-2.06%	-2.18%	-8.90%	-25.78%	-2.80%	-2.61%	-3.49%	-2.38%	-9.38%	-2.42%	-3.22%	-4.67%	-4.89%	-2.37%	-3.07%	-3.26%	-5.99%	-2.67%	-2.78%	-1.50%	-99.00%
Net Debt Issuance	-57,850,333	-8,301,000	60,890,800	48,027,467	35,954,600	280,224,000	-237,951,000	-215,824,000	294,919,000	-162,873,000	136,532,000	428,731,000	-9,492,000	-24,698,000	119,340,000	187,583,000	133,054,000	-83,235,000	-22,745,000	-103,153,000	-31,801,000	-4,341,000	12,740,000	-4,579,000	26,661,000	-136,791,000	323,478,000	-8,209,000	0
Net Debt Issuance Margin	-1.57%	-0.28%	2.20%	1.67%	1.26%	7.75%	-6.64%	-5.82%	8.78%	-5.47%	4.42%	15.27%	-0.37%	-1.04%	5.15%	7.49%	5.38%	-3.65%	-1.00%	-5.25%	-2.01%	-0.22%	0.63%	-0.30%	2.08%	-12.62%	33.38%	-0.95%	0.00%
Long-Term Debt Issuance	-50,447,333	-4,783,600	49,372,600	39,909,200	30,518,650	280,483,000	-237,720,000	-194,105,000	274,363,000	-146,939,000	141,857,000	287,807,000	-7,029,000	-20,098,000	115,107,000	199,506,000	124,596,000	-90,670,000	-22,283,000	-106,237,000	-24,365,000	29,854,000	-10,776,000	-8,186,000	25,208,000	-139,142,000	323,478,000	-8,209,000	0
Long-Term Debt Issuance Margin	-1.37%	-0.18%	1.78%	1.36%	1.07%	7.75%	-6.64%	-5.23%	8.17%	-4.93%	4.59%	10.25%	-0.27%	-0.85%	4.97%	7.96%	5.04%	-3.98%	-0.98%	-5.41%	-1.54%	1.51%	-0.53%	-0.54%	1.96%	-12.84%	33.38%	-0.95%	0.00%
Short-Term Debt Issuance	-7,403,000	-3,517,400	11,785,900	8,296,733	5,520,000	-259,000	-231,000	-21,719,000	20,556,000	-15,934,000	-5,325,000	140,924,000	214,000	-4,600,000	4,233,000	-11,923,000	8,458,000	7,435,000	-462,000	3,084,000	-7,436,000	-34,195,000	22,520,000	3,607,000	1,453,000	2,351,000	0	0	0
Short-Term Debt Issuance Margin	-0.20%	-0.10%	0.43%	0.31%	0.20%	-0.01%	-0.01%	-0.59%	0.61%	-0.54%	-0.17%	5.02%	0.01%	-0.19%	0.18%	-0.48%	0.34%	0.33%	-0.02%	0.16%	-0.47%	-1.73%	1.11%	0.24%	0.11%	0.22%	0.00%	0.00%	0.00%
Net Stock Issuance	-89,388,000	-83,083,200	-80,442,400	-77,374,933	-57,248,050	-153,961,000	-95,688,000	-18,515,000	-156,366,000	9,114,000	-33,144,000	-56,436,000	-121,191,000	3,000	-178,240,000	-205,357,000	-69,867,000	-22,593,000	-58,383,000	0	7,329,000	-19,800,000	22,814,000	3,828,000	1,492,000	141,253,000	0	0	0
Net Stock Issuance Margin	-2.48%	-2.36%	-2.73%	-2.79%	-2.04%	-4.26%	-2.67%	-0.50%	-4.66%	0.31%	-1.07%	-2.01%	-4.69%	0.00%	-7.70%	-8.20%	-2.82%	-0.99%	-2.56%	0.00%	0.46%	-1.00%	1.13%	0.25%	0.12%	13.03%	0.00%	0.00%	0.00%
Common Stock Issuance	0	1,822,800	1,007,500	671,667	1,809,150	0	0	0	0	9,114,000	0	0	958,000	3,000	0	0	0	0	0	0	0	0	22,814,000	1,802,000	1,492,000	141,253,000	0	0	0
Common Stock Issuance Margin	0.00%	0.06%	0.03%	0.02%	0.09%	0.00%	0.00%	0.00%	0.00%	0.31%	0.00%	0.00%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.13%	0.12%	0.12%	13.03%	0.00%	0.00%	0.00%
Common Stock Repurchased	-90,852,000	-85,784,400	-57,716,300	-63,069,600	-48,292,200	-153,961,000	-95,688,000	-22,907,000	-156,366,000	0	-34,561,000	-56,436,000	-121,191,000	257,400,000	-193,453,000	-218,038,000	-69,867,000	-22,593,000	-58,383,000	0	0	-19,800,000	0	0	0	0	0	0	0
Common Stock Repurchased Margin	-2.52%	-2.44%	-1.75%	-2.17%	-1.68%	-4.26%	-2.67%	-0.62%	-4.66%	0.00%	-1.12%	-2.01%	-4.69%	10.87%	-8.35%	-8.70%	-2.82%	-0.99%	-2.56%	0.00%	0.00%	-1.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	1,464,000	878,400	580,900	387,267	391,750	0	0	4,392,000	0	0	1,417,000	0	0	0	0	0	0	0	0	0	0	0	0	2,026,000	0	0	0	0	0
Preferred Stock Issuance Margin	0.04%	0.02%	0.02%	0.01%	0.01%	0.00%	0.00%	0.12%	0.00%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-33,494,333	-31,929,600	-31,005,000	-24,364,667	-18,273,500	-37,466,000	-34,480,000	-28,537,000	-29,353,000	-29,812,000	-29,705,000	-29,743,000	-29,674,000	-30,400,000	-30,880,000	-31,739,000	-23,681,000	0	0	0	0	0	0	0	0	0	-258,367,000	0	0
Net Dividends Paid Margin	-0.92%	-0.93%	-1.04%	-0.84%	-0.63%	-1.04%	-0.96%	-0.77%	-0.87%	-1.00%	-0.96%	-1.06%	-1.15%	-1.28%	-1.33%	-1.27%	-0.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-26.66%	0.00%	0.00%
Common Dividends Paid	-33,494,333	-31,929,600	-31,005,000	-24,364,667	-18,273,500	-37,466,000	-34,480,000	-28,537,000	-29,353,000	-29,812,000	-29,705,000	-29,743,000	-29,674,000	-30,400,000	-30,880,000	-31,739,000	-23,681,000	0	0	0	0	0	0	0	0	0	-258,367,000	0	0
Common Dividends Paid Margin	-0.92%	-0.93%	-1.04%	-0.84%	-0.63%	-1.04%	-0.96%	-0.77%	-0.87%	-1.00%	-0.96%	-1.06%	-1.15%	-1.28%	-1.33%	-1.27%	-0.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-26.66%	0.00%	0.00%
Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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%	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%	0.00%	0.00%	0.00%
Other Financing Activities	-2,847,333	-4,892,200	-6,136,300	-3,734,600	-2,594,500	1,473,000	-2,441,000	-7,574,000	-10,766,000	-5,153,000	-11,000,000	4,025,000	-6,531,000	-7,447,000	-15,949,000	-9,800,000	-17,944,000	9,866,000	2,746,000	20,476,000	0	945,000	4,004,000	-572,000	-248,000	-1,249,000	-105,100,000	0	314,795,000
Other Financing Activities Margin	-0.08%	-0.15%	-0.22%	-0.11%	-0.08%	0.04%	-0.07%	-0.20%	-0.32%	-0.17%	-0.36%	0.14%	-0.25%	-0.31%	-0.69%	-0.39%	-0.73%	0.43%	0.12%	1.04%	0.00%	0.05%	0.20%	-0.04%	-0.02%	-0.12%	-10.85%	0.00%	92.77%
Net Cash from Financing Activities	-183,580,000	-128,206,000	-56,692,900	-57,446,733	-42,161,450	90,270,000	-370,560,000	-270,450,000	98,434,000	-188,724,000	62,683,000	346,577,000	-166,888,000	-62,542,000	-105,729,000	-59,313,000	21,562,000	-95,962,000	-78,382,000	-82,677,000	-24,472,000	-23,196,000	39,558,000	-1,323,000	27,905,000	3,213,000	-39,989,000	-8,209,000	314,795,000
Net Cash from Financing Activities Margin	-5.05%	-3.71%	-1.78%	-2.08%	-1.49%	2.50%	-10.35%	-7.29%	2.93%	-6.34%	2.03%	12.34%	-6.46%	-2.64%	-4.56%	-2.37%	0.87%	-4.21%	-3.43%	-4.21%	-1.55%	-1.18%	1.95%	-0.09%	2.17%	0.30%	-4.13%	-0.95%	92.77%
Effect of FX on Cash	-10,735,667	-4,984,200	-4,305,100	-5,450,200	-4,187,250	-4,367,000	-7,331,000	-20,509,000	-12,936,000	20,222,000	-13,495,000	-43,455,000	49,986,000	-18,633,000	7,467,000	-46,724,000	7,577,000	-4,488,000	-773,000	5,706,000	2,995,000	-6,890,000	1,409,000	519,000	-25,000	559,000	689,000	915,000	0
Effect of FX on Cash Margin	-0.29%	-0.12%	-0.11%	-0.17%	-0.13%	-0.12%	-0.20%	-0.55%	-0.39%	0.68%	-0.44%	-1.55%	1.94%	-0.79%	0.32%	-1.86%	0.31%	-0.20%	-0.03%	0.29%	0.19%	-0.35%	0.07%	0.03%	0.00%	0.05%	0.07%	0.11%	0.00%
Net Change in Cash	-19,785,667	3,230,400	7,421,000	9,472,600	16,089,500	9,807,000	-13,341,000	-55,823,000	-49,320,000	124,829,000	27,767,000	-222,906,000	21,789,000	103,022,000	128,386,000	28,818,000	-9,245,000	88,858,000	51,621,000	-92,173,000	37,881,000	142,541,000	-17,165,000	22,568,000	-6,124,000	4,134,000	-27,089,000	35,221,000	-88,000
Net Change in Cash Margin	-0.54%	0.22%	0.48%	0.47%	0.84%	0.27%	-0.37%	-1.51%	-1.47%	4.19%	0.90%	-7.94%	0.84%	4.35%	5.54%	1.15%	-0.37%	3.90%	2.26%	-4.69%	2.40%	7.23%	-0.85%	1.50%	-0.48%	0.38%	-2.80%	4.10%	-0.03%
Cash at Beginning of Period	360,825,667	372,252,800	384,915,100	320,600,200	253,356,350	333,324,000	346,665,000	402,488,000	451,808,000	326,979,000	299,212,000	522,118,000	500,329,000	397,307,000	268,921,000	240,103,000	249,348,000	160,490,000	108,869,000	201,042,000	163,161,000	20,620,000	37,785,000	15,217,000	21,341,000	17,207,000	44,296,000	9,075,000	0
Cash at Beginning of Period Margin	9.92%	10.84%	13.02%	11.46%	9.39%	9.21%	9.68%	10.85%	13.46%	10.98%	9.69%	18.59%	19.38%	16.78%	11.61%	9.58%	10.08%	7.05%	4.77%	10.23%	10.33%	1.05%	1.86%	1.01%	1.66%	1.59%	4.57%	1.06%	0.00%
Cash at End of Period	341,040,000	375,483,200	392,336,100	330,072,800	269,445,850	343,131,000	333,324,000	346,665,000	402,488,000	451,808,000	326,979,000	299,212,000	522,118,000	500,329,000	397,307,000	268,921,000	240,103,000	249,348,000	160,490,000	108,869,000	201,042,000	163,161,000	20,620,000	37,785,000	15,217,000	21,341,000	17,207,000	44,296,000	-88,000
Cash at End of Period Margin	9.38%	11.06%	13.51%	11.93%	10.24%	9.49%	9.31%	9.35%	11.99%	15.17%	10.59%	10.66%	20.22%	21.14%	17.15%	10.73%	9.70%	10.95%	7.03%	5.54%	12.73%	8.27%	1.02%	2.51%	1.19%	1.97%	1.78%	5.15%	-0.03%
Operating Cash Flow	332,421,667	258,011,000	250,595,700	227,940,267	194,722,850	260,298,000	457,029,000	279,938,000	-65,585,000	358,375,000	253,398,000	197,855,000	211,048,000	246,030,000	307,571,000	194,471,000	193,621,000	244,400,000	204,196,000	76,459,000	136,602,000	219,437,000	4,018,000	72,424,000	42,872,000	29,353,000	39,192,000	55,438,000	21,068,000
Operating Cash Flow Margin	9.17%	7.52%	8.47%	8.26%	7.60%	7.20%	12.76%	7.55%	-1.95%	12.03%	8.21%	7.05%	8.17%	10.39%	13.28%	7.76%	7.82%	10.73%	8.94%	3.89%	8.65%	11.12%	0.20%	4.81%	3.34%	2.71%	4.04%	6.45%	6.21%
Capital Expenditure	-98,749,000	-88,061,600	-78,788,900	-71,845,200	-65,349,450	-121,038,000	-86,437,000	-88,772,000	-74,041,000	-70,020,000	-101,425,000	-70,372,000	-69,832,000	-50,072,000	-55,880,000	-63,625,000	-61,995,000	-55,286,000	-48,943,000	-59,940,000	-45,111,000	-57,143,000	-45,037,000	-42,355,000	-39,665,000	-31,828,000	-28,580,000	-23,630,000	-12,944,000
Capital Expenditure Margin	-2.72%	-2.54%	-2.57%	-2.56%	-2.61%	-3.35%	-2.41%	-2.39%	-2.21%	-2.35%	-3.28%	-2.51%	-2.70%	-2.12%	-2.41%	-2.54%	-2.51%	-2.43%	-2.14%	-3.05%	-2.86%	-2.90%	-2.22%	-2.82%	-3.09%	-2.94%	-2.95%	-2.75%	-3.81%
Free Cash Flow	233,672,667	169,949,400	171,806,800	156,095,067	129,373,400	139,260,000	370,592,000	191,166,000	-139,626,000	288,355,000	151,973,000	127,483,000	141,216,000	195,958,000	251,691,000	130,846,000	131,626,000	189,114,000	155,253,000	16,519,000	91,491,000	162,294,000	-41,019,000	30,069,000	3,207,000	-2,475,000	10,612,000	31,808,000	8,124,000
Free Cash Flow Margin	6.45%	4.97%	5.90%	5.70%	4.98%	3.85%	10.35%	5.15%	-4.16%	9.68%	4.92%	4.54%	5.47%	8.28%	10.87%	5.22%	5.32%	8.30%	6.80%	0.84%	5.79%	8.23%	-2.02%	2.00%	0.25%	-0.23%	1.10%	3.70%	2.39%

Free Cash Flow Margins

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	2025-03-31	2024-03-31	2023-03-31	2022-03-31	2021-03-31	2020-03-31	2019-03-31	2018-03-31	2017-03-31	2016-03-31	2015-03-31	2014-03-31	2013-03-31	2012-03-31	2011-03-31	2010-03-31	2009-03-31	2008-03-31	2007-03-31	2006-03-31	2005-03-31	2004-03-31	2003-03-31	2002-03-31
Revenue	3,636,009,667	3,448,656,000	3,040,424,800	2,793,971,400	2,513,810,100	3,617,579,000	3,581,871,000	3,708,579,000	3,357,319,000	2,977,932,000	3,087,868,000	2,808,000,000	2,581,800,000	2,367,100,000	2,316,200,000	2,505,500,000	2,474,433,000	2,277,559,000	2,283,369,000	1,964,462,000	1,579,385,000	1,972,867,000	2,026,640,000	1,504,474,000	1,283,265,000	1,083,862,000	969,079,000	859,643,000	339,340,000
EBITDA	451,350,000	392,859,400	339,243,300	315,703,400	274,691,350	558,569,000	434,160,000	361,321,000	307,594,000	302,653,000	277,954,000	276,427,000	320,644,000	290,937,000	262,174,000	327,323,000	235,824,000	300,854,000	258,103,000	221,014,000	147,705,000	191,296,000	164,915,000	141,217,000	113,143,000	117,941,000	92,860,000	92,956,000	14,230,000
EBITDA Margin	12.43%	11.33%	11.15%	11.32%	10.76%	15.44%	12.12%	9.74%	9.16%	10.16%	9.00%	9.84%	12.42%	12.29%	11.32%	13.06%	9.53%	13.21%	11.30%	11.25%	9.35%	9.70%	8.14%	9.39%	8.82%	10.88%	9.58%	10.81%	4.19%
(-) Tax Adjustment	50,970,016	50,723,346	61,112,769	61,947,976	57,884,412	58,857,764	34,308,128	59,744,155	53,101,562	47,605,119	18,577,936	32,788,705	159,447,394	74,508,323	72,188,603	89,037,633	24,454,137	85,297,263	63,820,302	55,482,622	42,236,977	59,941,598	50,699,955	40,040,800	35,549,271	41,159,138	35,235,085	32,620,541	-1,582,196
(-) Tax Adjustment Margin	1.40%	1.48%	2.16%	2.37%	2.46%	1.63%	0.96%	1.61%	1.58%	1.60%	0.60%	1.17%	6.18%	3.15%	3.12%	3.55%	0.99%	3.75%	2.80%	2.82%	2.67%	3.04%	2.50%	2.66%	2.77%	3.80%	3.64%	3.79%	-0.47%
(-) Change In Working Capital	-55,696,333	-82,429,600	-46,516,700	-46,127,400	-40,472,750	-209,800,000	50,979,000	-8,268,000	-346,082,000	101,023,000	-36,397,000	-71,077,000	31,618,000	-34,675,000	57,512,000	-120,662,000	-4,906,000	2,528,000	-4,755,000	-98,949,000	9,464,000	66,729,000	-121,237,000	-32,277,000	-40,223,000	-59,978,000	-33,233,000	-21,412,000	0
(-) Change In Working Capital Margin	-1.53%	-2.30%	-1.30%	-1.54%	-1.52%	-5.80%	1.42%	-0.22%	-10.31%	3.39%	-1.18%	-2.53%	1.22%	-1.46%	2.48%	-4.82%	-0.20%	0.11%	-0.21%	-5.04%	0.60%	3.38%	-5.98%	-2.15%	-3.13%	-5.53%	-3.43%	-2.49%	0.00%
(-) Capital Expenditure	-98,749,000	-88,061,600	-78,788,900	-71,845,200	-65,349,450	-121,038,000	-86,437,000	-88,772,000	-74,041,000	-70,020,000	-101,425,000	-70,372,000	-69,832,000	-50,072,000	-55,880,000	-63,625,000	-61,995,000	-55,286,000	-48,943,000	-59,940,000	-45,111,000	-57,143,000	-45,037,000	-42,355,000	-39,665,000	-31,828,000	-28,580,000	-23,630,000	-12,944,000
(-) Capital Expenditure Margin	-2.72%	-2.54%	-2.57%	-2.56%	-2.61%	-3.35%	-2.41%	-2.39%	-2.21%	-2.35%	-3.28%	-2.51%	-2.70%	-2.12%	-2.41%	-2.54%	-2.51%	-2.43%	-2.14%	-3.05%	-2.86%	-2.90%	-2.22%	-2.82%	-3.09%	-2.94%	-2.95%	-2.75%	-3.81%
Unlevered Free Cash Flow	357,327,318	336,504,054	245,858,331	228,037,624	191,930,238	588,473,236	262,435,872	221,072,845	526,533,438	84,004,881	194,348,064	244,343,295	59,746,606	201,031,677	76,593,397	295,322,367	154,280,863	157,742,737	150,094,698	204,540,378	50,893,023	7,482,402	190,415,045	91,098,200	78,151,729	104,931,862	62,277,915	58,117,459	2,868,196
Unlevered Free Cash Flow Margin	9.85%	9.61%	7.72%	7.94%	7.21%	16.27%	7.33%	5.96%	15.68%	2.82%	6.29%	8.70%	2.31%	8.49%	3.31%	11.79%	6.23%	6.93%	6.57%	10.41%	3.22%	0.38%	9.40%	6.06%	6.09%	9.68%	6.43%	6.76%	0.85%
(-) Net Interest Income After Taxes	-47,140,750	-41,013,581	-31,830,047	-26,424,372	-26,035,563	-45,729,784	-46,006,542	-49,685,925	-31,255,359	-32,390,296	-40,753,977	-27,206,557	-12,568,694	-16,512,397	-16,190,941	-14,300,485	-15,331,270	-13,411,843	-12,408,054	-22,613,449	-16,178,833	-15,549,995	-44,210,153	-21,461,531	-26,945,172	-19,557,270	-58,646,351	-12,349,959	-16,710,035
(-) Net Interest Income After Taxes Margin	-1.30%	-1.18%	-1.01%	-0.90%	-1.05%	-1.26%	-1.28%	-1.34%	-0.93%	-1.09%	-1.32%	-0.97%	-0.49%	-0.70%	-0.70%	-0.57%	-0.62%	-0.59%	-0.54%	-1.15%	-1.02%	-0.79%	-2.18%	-1.43%	-2.10%	-1.80%	-6.05%	-1.44%	-4.92%
Net Debt Issuance	-57,850,333	-8,301,000	60,890,800	48,027,467	35,954,600	280,224,000	-237,951,000	-215,824,000	294,919,000	-162,873,000	136,532,000	428,731,000	-9,492,000	-24,698,000	119,340,000	187,583,000	133,054,000	-83,235,000	-22,745,000	-103,153,000	-31,801,000	-4,341,000	12,740,000	-4,579,000	26,661,000	-136,791,000	323,478,000	-8,209,000	0
Net Debt Issuance Margin	-1.57%	-0.28%	2.20%	1.67%	1.26%	7.75%	-6.64%	-5.82%	8.78%	-5.47%	4.42%	15.27%	-0.37%	-1.04%	5.15%	7.49%	5.38%	-3.65%	-1.00%	-5.25%	-2.01%	-0.22%	0.63%	-0.30%	2.08%	-12.62%	33.38%	-0.95%	0.00%
Levered Free Cash Flow	346,617,735	369,216,636	338,579,178	302,489,462	253,920,401	914,427,020	70,491,415	54,934,769	852,707,797	-46,477,823	371,634,040	700,280,852	62,823,300	192,846,075	212,124,338	497,205,852	302,666,134	87,919,579	139,757,752	124,000,827	35,270,855	18,691,397	247,365,199	107,980,731	131,757,900	-12,301,868	444,402,266	62,258,418	19,578,230
Levered Free Cash Flow Margin	9.58%	10.51%	10.93%	10.51%	9.52%	25.28%	1.97%	1.48%	25.40%	-1.56%	12.04%	24.94%	2.43%	8.15%	9.16%	19.84%	12.23%	3.86%	6.12%	6.31%	2.23%	0.95%	12.21%	7.18%	10.27%	-1.14%	45.86%	7.24%	5.77%