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American Funds Retirement Income Portfolio - Moderate Class F-1 (FBFWX)

Analysis: Margins & Ratios Industry: Asset Management - Income Sector: Financial Services Live Price: $13.89

Income Statement Margins

Metric3Y Avg5Y Avg10Y AvgTTMTTM-12024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Revenue
173,080,000,000
156,545,000,000
155,709,700,000
185,250,000,000
180,348,000,000
184,992,000,000
176,191,000,000
158,057,000,000
136,341,000,000
127,144,000,000
155,900,000,000
160,338,000,000
156,776,000,000
151,800,000,000
149,558,000,000
144,077,000,000
146,917,000,000
122,278,606,860
Cost of Revenue
156,772,333,333
142,271,000,000
140,644,300,000
171,838,000,000
165,928,000,000
169,444,000,000
160,031,000,000
140,842,000,000
119,903,000,000
121,135,000,000
143,024,000,000
145,503,000,000
140,218,000,000
134,933,000,000
131,410,000,000
131,526,000,000
126,066,000,000
108,327,608,340
Cost of Revenue Margin
90.51%
90.95%
90.34%
92.76%
92.00%
91.60%
90.83%
89.11%
87.94%
95.27%
91.74%
90.75%
89.44%
88.89%
87.87%
91.29%
85.81%
88.59%
Gross Profit
16,307,666,667
14,274,000,000
15,065,400,000
13,412,000,000
14,420,000,000
15,548,000,000
16,160,000,000
17,215,000,000
16,438,000,000
6,009,000,000
12,876,000,000
14,835,000,000
16,558,000,000
16,867,000,000
18,148,000,000
12,551,000,000
20,851,000,000
13,950,998,520
Gross Profit Margin
9.49%
9.05%
9.66%
7.24%
8.00%
8.40%
9.17%
10.89%
12.06%
4.73%
8.26%
9.25%
10.56%
11.11%
12.13%
8.71%
14.19%
11.41%
R&D Expenses
8,000,000,000
7,740,000,000
7,630,000,000
8,000,000,000
8,200,000,000
8,000,000,000
8,200,000,000
7,800,000,000
7,600,000,000
7,100,000,000
7,400,000,000
8,200,000,000
8,000,000,000
7,300,000,000
6,700,000,000
6,700,000,000
6,200,000,000
5,035,470,000
R&D Expenses Margin
4.64%
5.01%
4.93%
4.32%
4.55%
4.32%
4.65%
4.93%
5.57%
5.58%
4.75%
5.11%
5.10%
4.81%
4.48%
4.65%
4.22%
4.12%
SG&A Expenses
10,096,666,667
10,027,000,000
10,524,200,000
10,325,000,000
10,751,000,000
10,348,000,000
10,799,000,000
9,143,000,000
9,721,000,000
10,124,000,000
12,763,000,000
9,781,000,000
9,962,000,000
12,504,000,000
10,097,000,000
11,842,000,000
7,671,000,000
8,277,397,139
SG&A Expenses Margin
5.84%
6.52%
6.82%
5.57%
5.96%
5.59%
6.13%
5.78%
7.13%
7.96%
8.19%
6.10%
6.35%
8.24%
6.75%
8.22%
5.22%
6.77%
Operating Expenses
13,539,666,667
12,590,200,000
10,994,000,000
10,471,000,000
10,539,000,000
10,329,000,000
10,702,000,000
19,588,000,000
11,915,000,000
10,417,000,000
12,970,000,000
9,761,000,000
7,552,000,000
9,350,000,000
7,356,000,000
10,822,000,000
5,814,000,000
6,554,350,860
Operating Expenses Margin
8.02%
8.20%
7.13%
5.65%
5.84%
5.58%
6.07%
12.39%
8.74%
8.19%
8.32%
6.09%
4.82%
6.16%
4.92%
7.51%
3.96%
5.36%
Operating Income (EBIT)
6,249,666,667
3,772,800,000
4,304,100,000
2,941,000,000
4,203,000,000
5,219,000,000
5,458,000,000
8,072,000,000
4,523,000,000
-4,408,000,000
113,000,000
5,054,000,000
6,596,000,000
4,363,000,000
8,051,000,000
709,000,000
13,180,000,000
5,673,601,380
Operating Income (EBIT) Margin
3.68%
2.18%
2.66%
1.59%
2.33%
2.82%
3.10%
5.11%
3.32%
-3.47%
0.07%
3.15%
4.21%
2.87%
5.38%
0.49%
8.97%
4.64%
Interest Income
432,000,000
807,400,000
741,188,823
316,000,000
365,000,000
404,000,000
249,000,000
643,000,000
1,542,000,000
1,199,000,000
546,000,000
716,534,100
825,257,510
746,443,220
540,653,400
491,713,200
593,073,000
403,753,140
Interest Income Margin
0.26%
0.57%
0.50%
0.17%
0.20%
0.22%
0.14%
0.41%
1.13%
0.94%
0.35%
0.45%
0.53%
0.49%
0.36%
0.34%
0.40%
0.33%
Interest Expense
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Interest Expense 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%
Net Interest Income
3,333,333
-546,200,000
-218,500,000
316,000,000
353,000,000
404,000,000
249,000,000
-643,000,000
-1,542,000,000
-1,199,000,000
546,000,000
0
0
0
0
0
0
0
Net Interest Income Margin
-0.02%
-0.42%
-0.18%
0.17%
0.20%
0.22%
0.14%
-0.41%
-1.13%
-0.94%
0.35%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Unusual Items
3,089,666,667
-2,004,200,000
-1,811,888,823
-1,720,000,000
268,000,000
-2,418,000,000
1,242,000,000
10,445,000,000
-14,799,000,000
-4,491,000,000
207,000,000
-7,534,100
-2,388,257,510
-3,167,443,220
-2,741,653,400
-1,016,713,200
-1,784,073,000
-1,723,046,280
Unusual Items Margin
2.00%
-1.68%
-1.37%
-0.93%
0.15%
-1.31%
0.70%
6.61%
-10.85%
-3.53%
0.13%
0.00%
-1.52%
-2.09%
-1.83%
-0.71%
-1.21%
-1.41%
EBT Excluding Unusual Items
-361,666,667
6,973,800,000
7,186,688,823
6,065,000,000
3,302,000,000
9,651,000,000
2,725,000,000
-13,461,000,000
32,579,000,000
3,375,000,000
-847,000,000
4,352,534,100
10,547,257,510
9,951,443,220
12,993,653,400
2,250,713,200
16,155,073,000
8,715,940,800
EBT Excluding Unusual Items Margin
-0.58%
4.96%
4.89%
3.27%
1.83%
5.22%
1.55%
-8.52%
23.90%
2.65%
-0.54%
2.71%
6.73%
6.56%
8.69%
1.56%
11.00%
7.13%
Pre-Tax Income
2,728,000,000
4,969,600,000
5,374,800,000
4,345,000,000
3,570,000,000
7,233,000,000
3,967,000,000
-3,016,000,000
17,780,000,000
-1,116,000,000
-640,000,000
4,345,000,000
8,159,000,000
6,784,000,000
10,252,000,000
1,234,000,000
14,371,000,000
6,992,894,520
Pre-Tax Income Margin
1.42%
3.28%
3.52%
2.35%
1.98%
3.91%
2.25%
-1.91%
13.04%
-0.88%
-0.41%
2.71%
5.20%
4.47%
6.85%
0.86%
9.78%
5.72%
Income Tax Expense
37,666,667
28,600,000
553,600,000
1,174,000,000
477,000,000
1,339,000,000
-362,000,000
-864,000,000
-130,000,000
160,000,000
-724,000,000
650,000,000
402,000,000
2,184,000,000
2,881,000,000
4,000,000
2,425,000,000
1,854,884,040
Income Tax Expense Margin
-0.01%
0.00%
0.36%
0.63%
0.26%
0.72%
-0.21%
-0.55%
-0.10%
0.13%
-0.46%
0.41%
0.26%
1.44%
1.93%
0.00%
1.65%
1.52%
Net Income
2,748,333,333
4,980,600,000
4,832,000,000
3,151,000,000
3,836,000,000
5,879,000,000
4,347,000,000
-1,981,000,000
17,937,000,000
-1,279,000,000
47,000,000
3,677,000,000
7,731,000,000
4,589,000,000
7,373,000,000
1,231,000,000
11,953,000,000
5,138,926,020
Net Income Margin
1.46%
3.31%
3.17%
1.70%
2.13%
3.18%
2.47%
-1.25%
13.16%
-1.01%
0.03%
2.29%
4.93%
3.02%
4.93%
0.85%
8.14%
4.20%
Depreciation and Amortization
6,261,333,333
6,411,200,000
7,421,400,000
5,662,000,000
6,258,000,000
5,867,000,000
6,456,000,000
6,461,000,000
5,960,000,000
7,312,000,000
8,490,000,000
8,413,000,000
8,572,000,000
8,717,000,000
7,966,000,000
7,423,000,000
6,544,000,000
4,852,362,000
Depreciation and Amortization Margin
3.64%
4.21%
4.83%
3.06%
3.47%
3.17%
3.66%
4.09%
4.37%
5.75%
5.45%
5.25%
5.47%
5.74%
5.33%
5.15%
4.45%
3.97%
EBITDA
12,472,333,333
10,658,200,000
11,962,600,000
8,749,000,000
9,927,000,000
11,067,000,000
11,817,000,000
14,533,000,000
12,677,000,000
3,197,000,000
8,603,000,000
13,467,000,000
15,168,000,000
13,080,000,000
16,017,000,000
8,132,000,000
19,724,000,000
10,525,963,380
EBITDA Margin
7.29%
6.74%
7.66%
4.72%
5.50%
5.98%
6.71%
9.19%
9.30%
2.51%
5.52%
8.40%
9.67%
8.62%
10.71%
5.64%
13.43%
8.61%
NOPAT
5,322,831,335
3,096,918,596
3,478,563,095
2,146,354,661
3,641,422,689
4,252,839,209
5,956,057,978
5,759,596,817
4,556,070,304
-5,039,971,326
-14,831,250
4,297,935,558
6,271,010,173
2,958,402,123
5,788,521,362
706,701,783
10,955,972,445
4,168,663,386
NOPAT Margin
3.11%
1.74%
2.12%
1.16%
2.02%
2.30%
3.38%
3.64%
3.34%
-3.96%
-0.01%
2.68%
4.00%
1.95%
3.87%
0.49%
7.46%
3.41%
Owner's Earnings
1,081,000,000
4,240,800,000
5,012,500,000
417,000,000
1,460,000,000
3,062,000,000
2,567,000,000
-2,386,000,000
17,670,000,000
291,000,000
905,000,000
4,305,000,000
9,254,000,000
6,314,000,000
8,143,000,000
1,191,000,000
11,900,000,000
4,966,804,500
Owner's Earnings Margin
0.53%
2.96%
3.36%
0.23%
0.81%
1.66%
1.46%
-1.51%
12.96%
0.23%
0.58%
2.68%
5.90%
4.16%
5.44%
0.83%
8.10%
4.06%

Balance Sheet Margins

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Revenue
173,080,000,000
156,545,000,000
155,709,700,000
184,992,000,000
176,191,000,000
158,057,000,000
136,341,000,000
127,144,000,000
155,900,000,000
160,338,000,000
156,776,000,000
151,800,000,000
149,558,000,000
144,077,000,000
146,917,000,000
122,278,606,860
Cash & Cash Equivalents
14,202,666,667
12,615,800,000
10,077,500,000
13,663,000,000
14,204,000,000
14,741,000,000
9,577,000,000
10,894,000,000
8,437,000,000
7,111,000,000
8,934,000,000
7,828,000,000
5,386,000,000
4,567,000,000
4,959,000,000
5,719,378,380
Cash & Cash Equivalents Margin
8.26%
8.07%
6.47%
7.39%
8.06%
9.33%
7.02%
8.57%
5.41%
4.44%
5.70%
5.16%
3.60%
3.17%
3.38%
4.68%
Short-Term Investments
15,556,666,667
18,681,600,000
17,856,100,000
14,707,000,000
14,520,000,000
17,443,000,000
26,880,000,000
19,858,000,000
13,851,000,000
15,925,000,000
17,554,000,000
19,642,000,000
18,181,000,000
17,135,000,000
20,157,000,000
16,642,686,119
Short-Term Investments Margin
9.08%
12.51%
11.77%
7.95%
8.24%
11.04%
19.72%
15.62%
8.88%
9.93%
11.20%
12.94%
12.16%
11.89%
13.72%
13.61%
Cash & Short-Term Investments
29,759,333,333
31,297,400,000
27,933,600,000
28,370,000,000
28,724,000,000
32,184,000,000
36,457,000,000
30,752,000,000
22,288,000,000
23,036,000,000
26,488,000,000
27,470,000,000
23,567,000,000
21,702,000,000
25,116,000,000
22,362,064,500
Cash & Short-Term Investments Margin
17.33%
20.59%
18.23%
15.34%
16.30%
20.36%
26.74%
24.19%
14.30%
14.37%
16.90%
18.10%
15.76%
15.06%
17.10%
18.29%
Net Receivables
9,122,666,667
9,746,200,000
10,190,600,000
5,868,000,000
5,771,000,000
15,729,000,000
11,370,000,000
9,993,000,000
9,237,000,000
11,195,000,000
10,599,000,000
11,102,000,000
11,042,000,000
6,678,000,000
6,493,000,000
5,583,878,460
Net Receivables Margin
5.47%
6.52%
6.70%
3.17%
3.28%
9.95%
8.34%
7.86%
5.92%
6.98%
6.76%
7.31%
7.38%
4.64%
4.42%
4.57%
Inventory
14,894,000,000
13,511,000,000
11,795,400,000
14,951,000,000
15,651,000,000
14,080,000,000
12,065,000,000
10,808,000,000
10,786,000,000
11,220,000,000
11,176,000,000
8,898,000,000
8,319,000,000
7,870,000,000
7,708,000,000
6,740,205,480
Inventory Margin
8.62%
8.64%
7.57%
8.08%
8.88%
8.91%
8.85%
8.50%
6.92%
7.00%
7.13%
5.86%
5.56%
5.46%
5.25%
5.51%
Other Current Assets
67,034,333,333
63,079,600,000
64,552,000,000
75,285,000,000
71,335,000,000
54,483,000,000
49,104,000,000
65,191,000,000
71,736,000,000
69,198,000,000
68,538,000,000
60,991,000,000
59,659,000,000
96,106,000,000
92,848,000,000
80,451,246,420
Other Current Assets Margin
38.55%
40.59%
41.59%
40.70%
40.49%
34.47%
36.02%
51.27%
46.01%
43.16%
43.72%
40.18%
39.89%
66.70%
63.20%
65.79%
Total Current Assets
120,810,333,333
117,634,200,000
114,471,600,000
124,474,000,000
121,481,000,000
116,476,000,000
108,996,000,000
116,744,000,000
114,047,000,000
114,649,000,000
116,801,000,000
108,461,000,000
102,587,000,000
132,356,000,000
132,165,000,000
115,137,394,860
Total Current Assets Margin
69.98%
76.34%
74.09%
67.29%
68.95%
73.69%
79.94%
91.82%
73.15%
71.50%
74.50%
71.45%
68.59%
91.86%
89.96%
94.16%
Property, Plant & Equipment
41,389,666,667
40,702,600,000
38,366,200,000
42,903,000,000
41,603,000,000
39,663,000,000
39,670,000,000
39,674,000,000
39,496,000,000
37,883,000,000
36,901,000,000
33,692,000,000
32,177,000,000
31,494,000,000
28,876,000,000
24,012,783,120
Property, Plant & Equipment Margin
23.97%
26.44%
24.84%
23.19%
23.61%
25.09%
29.10%
31.20%
25.33%
23.63%
23.54%
22.19%
21.51%
21.86%
19.65%
19.64%
Goodwill
428,666,667
432,600,000
283,600,000
0
683,000,000
603,000,000
619,000,000
258,000,000
278,000,000
264,000,000
75,000,000
50,000,000
6,000,000
0
0
0
Goodwill Margin
0.26%
0.29%
0.19%
0.00%
0.39%
0.38%
0.45%
0.20%
0.18%
0.16%
0.05%
0.03%
0.00%
0.00%
0.00%
0.00%
Intangible Assets
55,333,333
84,200,000
132,200,000
0
80,000,000
86,000,000
111,000,000
144,000,000
188,000,000
178,000,000
213,000,000
198,000,000
124,000,000
133,000,000
85,000,000
79,651,980
Intangible Assets Margin
0.03%
0.06%
0.09%
0.00%
0.05%
0.05%
0.08%
0.11%
0.12%
0.11%
0.14%
0.13%
0.08%
0.09%
0.06%
0.07%
Long-Term Investments
5,101,333,333
5,470,000,000
4,424,300,000
6,691,000,000
5,431,000,000
3,182,000,000
5,445,000,000
6,601,000,000
3,719,000,000
2,959,000,000
3,448,000,000
3,523,000,000
3,244,000,000
3,216,000,000
3,546,000,000
2,849,160,480
Long-Term Investments Margin
2.90%
3.58%
2.88%
3.62%
3.08%
2.01%
3.99%
5.19%
2.39%
1.85%
2.20%
2.32%
2.17%
2.23%
2.41%
2.33%
Tax Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Tax 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%
Other Non-Current Assets
103,678,000,000
103,413,600,000
99,835,600,000
111,128,000,000
104,032,000,000
95,874,000,000
102,194,000,000
103,840,000,000
100,809,000,000
100,607,000,000
101,058,000,000
92,027,000,000
86,787,000,000
41,416,000,000
37,507,000,000
-26,941,595,580
Other Non-Current Assets Margin
59.92%
67.28%
64.69%
60.07%
59.05%
60.66%
74.95%
81.67%
64.66%
62.75%
64.46%
60.62%
58.03%
28.75%
25.53%
-22.03%
Other Assets
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
31,329,778,800
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%
25.62%
Total Non-Current Assets
150,653,000,000
150,103,000,000
143,041,900,000
160,722,000,000
151,829,000,000
139,408,000,000
148,039,000,000
150,517,000,000
144,490,000,000
141,891,000,000
141,695,000,000
129,490,000,000
122,338,000,000
76,259,000,000
70,014,000,000
26,941,595,580
Total Non-Current Assets Margin
87.08%
97.64%
92.69%
86.88%
86.17%
88.20%
108.58%
118.38%
92.68%
88.49%
90.38%
85.30%
81.80%
52.93%
47.66%
22.03%
Total Assets
271,463,333,333
267,737,200,000
257,513,500,000
285,196,000,000
273,310,000,000
255,884,000,000
257,035,000,000
267,261,000,000
258,537,000,000
256,540,000,000
258,496,000,000
237,951,000,000
224,925,000,000
208,615,000,000
202,179,000,000
173,408,769,240
Total Assets Margin
157.06%
173.98%
166.78%
154.17%
155.12%
161.89%
188.52%
210.20%
165.84%
160.00%
164.88%
156.75%
150.39%
144.79%
137.61%
141.81%
Accounts Payable
24,621,333,333
23,683,400,000
22,546,000,000
23,167,000,000
25,092,000,000
25,605,000,000
22,349,000,000
22,204,000,000
20,673,000,000
21,520,000,000
23,282,000,000
21,296,000,000
20,272,000,000
18,876,000,000
18,035,000,000
16,059,487,140
Accounts Payable Margin
14.32%
15.36%
14.59%
12.52%
14.24%
16.20%
16.39%
17.46%
13.26%
13.42%
14.85%
14.03%
13.55%
13.10%
12.28%
13.13%
Short-Term Debt
917,000,000
1,435,600,000
1,866,500,000
1,662,000,000
445,000,000
644,000,000
3,099,000,000
1,328,000,000
1,353,000,000
2,314,000,000
3,356,000,000
2,685,000,000
1,779,000,000
2,501,000,000
1,257,000,000
0
Short-Term Debt Margin
0.52%
0.98%
1.23%
0.90%
0.25%
0.41%
2.27%
1.04%
0.87%
1.44%
2.14%
1.77%
1.19%
1.74%
0.86%
0.00%
Tax Payables
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Tax Payables 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%
Deferred Revenue
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Deferred Revenue 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%
Other Current Liabilities
74,502,000,000
71,009,400,000
68,084,900,000
81,378,000,000
75,481,000,000
66,647,000,000
61,749,000,000
69,792,000,000
72,145,000,000
68,449,000,000
64,667,000,000
63,261,000,000
57,280,000,000
51,606,000,000
50,661,000,000
50,456,324,940
Other Current Liabilities Margin
43.00%
45.84%
43.94%
43.99%
42.84%
42.17%
45.29%
54.89%
46.28%
42.69%
41.25%
41.67%
38.30%
35.82%
34.48%
41.26%
Total Current Liabilities
101,752,000,000
98,635,000,000
95,409,300,000
106,859,000,000
101,531,000,000
96,866,000,000
90,727,000,000
97,192,000,000
98,132,000,000
95,569,000,000
94,600,000,000
90,281,000,000
82,336,000,000
75,960,000,000
72,635,000,000
66,515,812,080
Total Current Liabilities Margin
58.89%
63.93%
61.71%
57.76%
57.63%
61.29%
66.54%
76.44%
62.95%
59.60%
60.34%
59.47%
55.05%
52.72%
49.44%
54.40%
Long-Term Debt
18,586,666,667
18,947,200,000
15,764,300,000
18,187,000,000
18,861,000,000
18,712,000,000
16,711,000,000
22,265,000,000
13,618,000,000
11,833,000,000
13,174,000,000
13,222,000,000
11,060,000,000
11,323,000,000
14,426,000,000
11,782,999,800
Long-Term Debt Margin
10.79%
12.43%
10.28%
9.83%
10.70%
11.84%
12.26%
17.51%
8.74%
7.38%
8.40%
8.71%
7.40%
7.86%
9.82%
9.64%
Capital Lease Obligations
2,579,333,333
2,284,800,000
1,301,500,000
3,145,000,000
2,514,000,000
2,079,000,000
1,958,000,000
1,728,000,000
1,591,000,000
0
0
0
0
0
0
0
Capital Lease Obligations Margin
1.48%
1.45%
0.83%
1.70%
1.43%
1.32%
1.44%
1.36%
1.02%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Deferred Tax Liabilities
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Deferred Tax Liabilities 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%
Other Non-Current Liabilities
105,489,333,333
106,308,000,000
107,999,800,000
112,799,000,000
108,119,000,000
95,550,000,000
99,438,000,000
115,634,000,000
112,425,000,000
113,072,000,000
115,018,000,000
105,165,000,000
102,778,000,000
96,525,000,000
88,642,000,000
-11,782,999,800
Other Non-Current Liabilities Margin
60.93%
69.33%
70.07%
60.98%
61.36%
60.45%
72.93%
90.95%
72.11%
70.52%
73.36%
69.28%
68.72%
67.00%
60.33%
-9.64%
Total Non-Current Liabilities
126,103,666,667
127,051,000,000
124,775,200,000
133,479,000,000
128,981,000,000
115,851,000,000
117,686,000,000
139,258,000,000
127,175,000,000
124,905,000,000
128,192,000,000
118,387,000,000
113,838,000,000
107,848,000,000
103,068,000,000
11,782,999,800
Total Non-Current Liabilities Margin
72.89%
82.90%
80.98%
72.15%
73.21%
73.30%
86.32%
109.53%
81.57%
77.90%
81.77%
77.99%
76.12%
74.85%
70.15%
9.64%
Total Liabilities
227,855,666,667
225,686,000,000
220,184,500,000
240,338,000,000
230,512,000,000
212,717,000,000
208,413,000,000
236,450,000,000
225,307,000,000
220,474,000,000
222,792,000,000
208,668,000,000
196,174,000,000
183,808,000,000
175,703,000,000
158,475,396,300
Total Liabilities Margin
131.78%
146.83%
142.69%
129.92%
130.83%
134.58%
152.86%
185.97%
144.52%
137.51%
142.11%
137.46%
131.17%
127.58%
119.59%
129.60%
Preferred Stock
0
0
0
0
0
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%
0.00%
0.00%
0.00%
0.00%
0.00%
Common Stock
42,000,000
41,600,000
41,300,000
42,000,000
42,000,000
42,000,000
41,000,000
41,000,000
41,000,000
41,000,000
41,000,000
41,000,000
41,000,000
40,000,000
40,000,000
36,621,600
Common Stock Margin
0.02%
0.03%
0.03%
0.02%
0.02%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
0.03%
Retained Earnings
32,174,333,333
30,107,000,000
24,547,700,000
33,740,000,000
31,029,000,000
31,754,000,000
35,769,000,000
18,243,000,000
20,320,000,000
22,668,000,000
21,906,000,000
15,634,000,000
14,414,000,000
9,422,000,000
23,386,000,000
16,550,216,580
Retained Earnings Margin
18.65%
19.30%
15.76%
18.24%
17.61%
20.09%
26.23%
14.35%
13.03%
14.14%
13.97%
10.30%
9.64%
6.54%
15.92%
13.53%
Accumulated OCI
-9,340,000,000
-8,930,600,000
-7,997,600,000
-9,639,000,000
-9,042,000,000
-9,339,000,000
-8,339,000,000
-8,294,000,000
-7,728,000,000
-7,366,000,000
-6,959,000,000
-7,013,000,000
-6,257,000,000
-5,265,000,000
-18,230,000,000
0
Accumulated OCI Margin
-5.42%
-5.78%
-5.17%
-5.21%
-5.13%
-5.91%
-6.12%
-6.52%
-4.96%
-4.59%
-4.44%
-4.62%
-4.18%
-3.65%
-12.41%
0.00%
Minority Interest
-9,000,000
39,400,000
72,400,000
23,000,000
25,000,000
-75,000,000
103,000,000
121,000,000
45,000,000
134,000,000
126,000,000
113,000,000
109,000,000
369,000,000
364,000,000
333,256,560
Minority Interest Margin
-0.01%
0.03%
0.05%
0.01%
0.01%
-0.05%
0.08%
0.10%
0.03%
0.08%
0.08%
0.07%
0.07%
0.26%
0.25%
0.27%
Total Shareholders’ Equity
43,616,666,667
42,011,800,000
37,256,600,000
44,835,000,000
42,773,000,000
43,242,000,000
48,519,000,000
30,690,000,000
33,185,000,000
35,932,000,000
35,578,000,000
29,170,000,000
28,642,000,000
24,438,000,000
26,112,000,000
14,600,116,380
Total Shareholders’ Equity Margin
25.29%
27.12%
24.04%
24.24%
24.28%
27.36%
35.59%
24.14%
21.29%
22.41%
22.69%
19.22%
19.15%
16.96%
17.77%
11.94%
Total Equity
43,607,666,667
42,051,200,000
37,329,000,000
44,858,000,000
42,798,000,000
43,167,000,000
48,622,000,000
30,811,000,000
33,230,000,000
36,066,000,000
35,704,000,000
29,283,000,000
28,751,000,000
24,807,000,000
26,476,000,000
14,933,372,940
Total Equity Margin
25.28%
27.15%
24.08%
24.25%
24.29%
27.31%
35.66%
24.23%
21.31%
22.49%
22.77%
19.29%
19.22%
17.22%
18.02%
12.21%
Total Liabilities & Equity
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%
Total Investments
20,658,000,000
24,151,600,000
22,280,400,000
21,398,000,000
19,951,000,000
20,625,000,000
32,325,000,000
26,459,000,000
17,570,000,000
18,884,000,000
21,002,000,000
23,165,000,000
21,425,000,000
20,351,000,000
23,703,000,000
19,491,846,599
Total Investments Margin
11.98%
16.09%
14.65%
11.57%
11.32%
13.05%
23.71%
20.81%
11.27%
11.78%
13.40%
15.26%
14.33%
14.13%
16.13%
15.94%
Net Debt
7,880,333,333
10,051,800,000
8,854,800,000
9,331,000,000
7,616,000,000
6,694,000,000
12,191,000,000
14,427,000,000
8,125,000,000
7,036,000,000
7,596,000,000
8,079,000,000
7,453,000,000
9,257,000,000
10,724,000,000
-5,719,378,380
Net Debt Margin
4.53%
6.78%
5.86%
5.04%
4.32%
4.24%
8.94%
11.35%
5.21%
4.39%
4.85%
5.32%
4.98%
6.43%
7.30%
-4.68%

Capital Metrics

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Revenue
173,080,000,000
156,545,000,000
155,709,700,000
184,992,000,000
176,191,000,000
158,057,000,000
136,341,000,000
127,144,000,000
155,900,000,000
160,338,000,000
156,776,000,000
151,800,000,000
149,558,000,000
144,077,000,000
146,917,000,000
122,278,606,860
Working Capital
19,058,333,333
18,999,200,000
19,062,300,000
17,615,000,000
19,950,000,000
19,610,000,000
18,269,000,000
19,552,000,000
15,915,000,000
19,080,000,000
22,201,000,000
18,180,000,000
20,251,000,000
56,396,000,000
59,530,000,000
48,621,582,780
Working Capital Margin
11.08%
12.41%
12.38%
9.52%
11.32%
12.41%
13.40%
15.38%
10.21%
11.90%
14.16%
11.98%
13.54%
39.14%
40.52%
39.76%
Total Capital
65,699,666,667
64,679,400,000
56,188,900,000
67,829,000,000
64,593,000,000
64,677,000,000
70,287,000,000
56,011,000,000
49,747,000,000
50,079,000,000
52,108,000,000
45,077,000,000
41,481,000,000
38,262,000,000
41,795,000,000
26,383,116,180
Total Capital Margin
38.08%
41.97%
36.37%
36.67%
36.66%
40.92%
51.55%
44.05%
31.91%
31.23%
33.24%
29.69%
27.74%
26.56%
28.45%
21.58%
Capital Employed
169,711,333,333
169,102,200,000
162,104,200,000
178,337,000,000
171,779,000,000
159,018,000,000
166,308,000,000
170,069,000,000
160,405,000,000
160,971,000,000
163,896,000,000
147,670,000,000
142,589,000,000
132,655,000,000
129,544,000,000
106,892,957,160
Capital Employed Margin
98.17%
110.05%
105.07%
96.40%
97.50%
100.61%
121.98%
133.76%
102.89%
100.39%
104.54%
97.28%
95.34%
92.07%
88.17%
87.42%
Invested Capital
51,497,000,000
52,063,600,000
46,111,400,000
54,166,000,000
50,389,000,000
49,936,000,000
60,710,000,000
45,117,000,000
41,310,000,000
42,968,000,000
43,174,000,000
37,249,000,000
36,095,000,000
33,695,000,000
36,836,000,000
20,663,737,800
Invested Capital Margin
29.82%
33.90%
29.90%
29.28%
28.60%
31.59%
44.53%
35.48%
26.50%
26.80%
27.54%
24.54%
24.13%
23.39%
25.07%
16.90%

Cash Flow Margins

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Revenue
173,080,000,000
156,545,000,000
155,709,700,000
184,992,000,000
176,191,000,000
158,057,000,000
136,341,000,000
127,144,000,000
155,900,000,000
160,338,000,000
156,776,000,000
151,800,000,000
149,558,000,000
144,077,000,000
146,917,000,000
122,278,606,860
Net Income
3,838,333,333
4,503,600,000
4,593,500,000
5,879,000,000
4,347,000,000
1,289,000,000
12,282,000,000
-1,279,000,000
47,000,000
3,677,000,000
7,731,000,000
4,589,000,000
7,373,000,000
1,231,000,000
11,953,000,000
5,138,926,020
Net Income Margin
2.15%
2.89%
2.97%
3.18%
2.47%
0.82%
9.01%
-1.01%
0.03%
2.29%
4.93%
3.02%
4.93%
0.85%
8.14%
4.20%
Depreciation & Amortization
6,261,333,333
6,411,200,000
7,421,400,000
5,867,000,000
6,456,000,000
6,461,000,000
5,960,000,000
7,312,000,000
8,490,000,000
8,413,000,000
8,572,000,000
8,717,000,000
7,966,000,000
7,423,000,000
6,544,000,000
4,852,362,000
Depreciation & Amortization Margin
3.64%
4.21%
4.83%
3.17%
3.66%
4.09%
4.37%
5.75%
5.45%
5.25%
5.47%
5.74%
5.33%
5.15%
4.45%
3.97%
Deferred Income Tax
1,054,957,333
1,110,289,800
1,972,705,930
0
0
3,164,872,000
2,386,577,000
0
369,634,660
2,826,820,400
2,943,450,930
3,511,236,320
4,524,467,990
3,627,750,720
1,951,085,500
3,450,670,260
Deferred Income Tax Margin
0.67%
0.75%
1.30%
0.00%
0.00%
2.00%
1.75%
0.00%
0.24%
1.76%
1.88%
2.31%
3.03%
2.52%
1.33%
2.82%
Stock-Based Compensation
435,666,667
359,400,000
287,100,000
511,000,000
460,000,000
336,000,000
303,000,000
187,000,000
228,000,000
191,000,000
246,000,000
210,000,000
199,000,000
180,000,000
159,000,000
128,175,600
Stock-Based Compensation Margin
0.25%
0.22%
0.18%
0.28%
0.26%
0.21%
0.22%
0.15%
0.15%
0.12%
0.16%
0.14%
0.13%
0.12%
0.11%
0.10%
Change in Working Capital
-9,918,000,000
-2,565,600,000
-2,983,800,000
-6,769,000,000
-8,666,000,000
-14,319,000,000
4,737,000,000
12,189,000,000
944,000,000
-5,475,000,000
-4,103,000,000
-3,658,000,000
-4,718,000,000
-3,832,000,000
-2,350,000,000
-3,578,845,860
Change in Working Capital Margin
-5.88%
-0.92%
-1.56%
-3.66%
-4.92%
-9.06%
3.47%
9.59%
0.61%
-3.41%
-2.62%
-2.41%
-3.15%
-2.66%
-1.60%
-2.93%
Accounts Receivable
-2,100,000,000
-1,500,800,000
-1,927,400,000
-2,497,000,000
-2,620,000,000
-1,183,000,000
-1,141,000,000
-63,000,000
-816,000,000
-2,239,000,000
-2,297,000,000
-2,855,000,000
-3,563,000,000
-2,896,000,000
-1,913,000,000
-2,296,174,320
Accounts Receivable Margin
-1.20%
-0.89%
-1.21%
-1.35%
-1.49%
-0.75%
-0.84%
-0.05%
-0.52%
-1.40%
-1.47%
-1.88%
-2.38%
-2.01%
-1.30%
-1.88%
Inventory
-1,256,000,000
-1,079,600,000
-894,800,000
27,000,000
-1,219,000,000
-2,576,000,000
-1,778,000,000
148,000,000
206,000,000
-828,000,000
-970,000,000
-803,000,000
-1,155,000,000
-936,000,000
-437,000,000
-1,282,671,540
Inventory Margin
-0.77%
-0.70%
-0.58%
0.01%
-0.69%
-1.63%
-1.30%
0.12%
0.13%
-0.52%
-0.62%
-0.53%
-0.77%
-0.65%
-0.30%
-1.05%
Accounts Payable
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Accounts Payable 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%
Other Working Capital
-6,562,000,000
14,800,000
-161,600,000
-4,299,000,000
-4,827,000,000
-10,560,000,000
7,656,000,000
12,104,000,000
1,554,000,000
-2,408,000,000
-836,000,000
0
0
0
0
0
Other Working Capital Margin
-3.91%
0.68%
0.24%
-2.32%
-2.74%
-6.68%
5.62%
9.52%
1.00%
-1.50%
-0.53%
0.00%
0.00%
0.00%
0.00%
0.00%
Other Non-Cash Items
10,725,709,333
5,631,110,200
6,497,991,634
9,935,000,000
12,321,000,000
9,921,128,000
-9,881,577,000
5,860,000,000
7,560,365,340
8,216,000,000
5,650,000,000
9,992,000,000
5,406,000,000
9,505,000,000
-5,862,000,000
-1,710,228,720
Other Non-Cash Items Margin
6.21%
3.20%
3.98%
5.37%
6.99%
6.28%
-7.25%
4.61%
4.85%
5.12%
3.60%
6.58%
3.61%
6.60%
-3.99%
-1.40%
Net Cash from Operating Activities
12,398,000,000
15,450,000,000
16,408,300,000
15,423,000,000
14,918,000,000
6,853,000,000
15,787,000,000
24,269,000,000
17,639,000,000
15,022,000,000
18,096,000,000
19,850,000,000
16,226,000,000
14,507,000,000
10,444,000,000
8,281,059,300
Net Cash from Operating Activities Margin
7.05%
10.36%
10.80%
8.34%
8.47%
4.34%
11.58%
19.09%
11.31%
9.37%
11.54%
13.08%
10.85%
10.07%
7.11%
6.77%
Capital Expenditures (PPE)
-7,928,666,667
-7,151,000,000
-7,240,900,000
-8,684,000,000
-8,236,000,000
-6,866,000,000
-6,227,000,000
-5,742,000,000
-7,632,000,000
-7,785,000,000
-7,049,000,000
-6,992,000,000
-7,196,000,000
-7,463,000,000
-6,597,000,000
-5,024,483,520
Capital Expenditures (PPE) Margin
-4.57%
-4.56%
-4.65%
-4.69%
-4.67%
-4.34%
-4.57%
-4.52%
-4.90%
-4.86%
-4.50%
-4.61%
-4.81%
-5.18%
-4.49%
-4.11%
Acquisitions (Net)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Acquisitions (Net) 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%
Purchases of Investments
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Purchases of 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%
Sales / Maturities of Investments
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Sales / Maturities of 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%
Other Investing Activities
-7,519,666,667
-5,292,000,000
-9,061,200,000
-15,686,000,000
-9,392,000,000
2,519,000,000
8,972,000,000
-12,873,000,000
-6,089,000,000
-8,476,000,000
-12,311,000,000
-18,310,000,000
-18,966,000,000
-13,661,000,000
-13,134,000,000
-8,058,583,080
Other Investing Activities Margin
-4.07%
-3.15%
-5.75%
-8.48%
-5.33%
1.59%
6.58%
-10.12%
-3.91%
-5.29%
-7.85%
-12.06%
-12.68%
-9.48%
-8.94%
-6.59%
Net Cash from Investing Activities
-15,448,333,333
-12,443,000,000
-16,302,100,000
-24,370,000,000
-17,628,000,000
-4,347,000,000
2,745,000,000
-18,615,000,000
-13,721,000,000
-16,261,000,000
-19,360,000,000
-25,302,000,000
-26,162,000,000
-21,124,000,000
-19,731,000,000
-13,083,066,600
Net Cash from Investing Activities Margin
-8.64%
-7.71%
-10.40%
-13.17%
-10.01%
-2.75%
2.01%
-14.64%
-8.80%
-10.14%
-12.35%
-16.67%
-17.49%
-14.66%
-13.43%
-10.70%
Net Debt Issuance
7,047,000,000
52,800,000
3,502,600,000
11,632,000,000
9,694,000,000
-185,000,000
-26,263,000,000
5,386,000,000
1,107,000,000
5,958,000,000
5,031,000,000
7,164,000,000
15,502,000,000
11,184,000,000
12,590,000,000
0
Net Debt Issuance Margin
3.89%
-0.67%
1.94%
6.29%
5.50%
-0.12%
-19.26%
4.24%
0.71%
3.72%
3.21%
4.72%
10.37%
7.76%
8.57%
0.00%
Long-Term Debt Issuance
7,047,000,000
52,800,000
3,502,600,000
11,632,000,000
9,694,000,000
-185,000,000
-26,263,000,000
5,386,000,000
1,107,000,000
5,958,000,000
5,031,000,000
7,164,000,000
15,502,000,000
11,184,000,000
12,590,000,000
0
Long-Term Debt Issuance Margin
3.89%
-0.67%
1.94%
6.29%
5.50%
-0.12%
-19.26%
4.24%
0.71%
3.72%
3.21%
4.72%
10.37%
7.76%
8.57%
0.00%
Short-Term Debt Issuance
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Short-Term Debt 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%
0.00%
0.00%
0.00%
Net Stock Issuance
-415,000,000
-249,000,000
-205,100,000
-426,000,000
-335,000,000
-484,000,000
0
0
-237,000,000
-164,000,000
-131,000,000
-145,000,000
-129,000,000
-1,964,000,000
-213,000,000
0
Net Stock Issuance Margin
-0.24%
-0.15%
-0.12%
-0.23%
-0.19%
-0.31%
0.00%
0.00%
-0.15%
-0.10%
-0.08%
-0.10%
-0.09%
-1.36%
-0.14%
0.00%
Common Stock Issuance
0
0
20,183,386,170
0
0
0
0
0
45,221,220,420
43,577,854,400
39,851,071,330
39,656,196,280
33,527,519,270
30,618,335,280
25,081,823,000
26,857,365,900
Common Stock Issuance Margin
0.00%
0.00%
13.01%
0.00%
0.00%
0.00%
0.00%
0.00%
29.01%
27.18%
25.42%
26.12%
22.42%
21.25%
17.07%
21.96%
Common Stock Repurchased
-415,000,000
-249,000,000
-205,100,000
-426,000,000
-335,000,000
-484,000,000
0
0
-237,000,000
-164,000,000
-131,000,000
-145,000,000
-129,000,000
-1,964,000,000
-213,000,000
-114,442,500
Common Stock Repurchased Margin
-0.24%
-0.15%
-0.12%
-0.23%
-0.19%
-0.31%
0.00%
0.00%
-0.15%
-0.10%
-0.08%
-0.10%
-0.09%
-1.36%
-0.14%
-0.09%
Preferred Stock Issuance
0
0
0
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%
0.00%
0.00%
0.00%
Net Dividends Paid
-3,374,000,000
-2,224,200,000
-2,475,500,000
-3,118,000,000
-4,995,000,000
-2,009,000,000
-403,000,000
-596,000,000
-2,389,000,000
-2,905,000,000
-2,584,000,000
-3,376,000,000
-2,380,000,000
-1,952,000,000
-1,574,000,000
-698,557,020
Net Dividends Paid Margin
-1.93%
-1.31%
-1.54%
-1.69%
-2.83%
-1.27%
-0.30%
-0.47%
-1.53%
-1.81%
-1.65%
-2.22%
-1.59%
-1.35%
-1.07%
-0.57%
Common Dividends Paid
-2,268,354,000
-1,560,812,400
-2,004,556,200
-2,398,462,000
-2,397,600,000
-2,009,000,000
-403,000,000
-596,000,000
-2,389,000,000
-2,705,000,000
-2,384,000,000
-2,383,500,000
-2,380,000,000
-1,952,000,000
-1,574,000,000
-698,557,020
Common Dividends Paid Margin
-1.31%
-0.94%
-1.26%
-1.30%
-1.36%
-1.27%
-0.30%
-0.47%
-1.53%
-1.69%
-1.52%
-1.57%
-1.59%
-1.35%
-1.07%
-0.57%
Preferred Dividends Paid
-1,105,646,000
-663,387,600
-470,943,800
-719,538,000
-2,597,400,000
0
0
0
0
-200,000,000
-200,000,000
-992,500,000
0
0
0
0
Preferred Dividends Paid Margin
-0.62%
-0.37%
-0.28%
-0.39%
-1.47%
0.00%
0.00%
0.00%
0.00%
-0.12%
-0.13%
-0.65%
0.00%
0.00%
0.00%
0.00%
Other Financing Activities
935,333,333
699,800,000
498,600,000
-603,000,000
-1,780,000,000
5,189,000,000
3,168,000,000
-2,475,000,000
-1,610,000,000
-3,011,000,000
1,078,000,000
3,757,000,000
1,273,000,000
-3,845,000,000
-2,670,000,000
4,090,632,720
Other Financing Activities Margin
0.65%
0.46%
0.34%
-0.33%
-1.01%
3.28%
2.32%
-1.95%
-1.03%
-1.88%
0.69%
2.47%
0.85%
-2.67%
-1.82%
3.35%
Net Cash from Financing Activities
4,193,333,333
-1,720,600,000
1,320,600,000
7,485,000,000
2,584,000,000
2,511,000,000
-23,498,000,000
2,315,000,000
-3,129,000,000
-122,000,000
3,394,000,000
7,400,000,000
14,266,000,000
3,423,000,000
8,133,000,000
3,392,075,700
Net Cash from Financing Activities Margin
2.37%
-1.66%
0.62%
4.05%
1.47%
1.59%
-17.23%
1.82%
-2.01%
-0.08%
2.16%
4.87%
9.54%
2.38%
5.54%
2.77%
Effect of FX on Cash
-325,333,333
-196,600,000
-189,900,000
-458,000,000
-104,000,000
-414,000,000
-232,000,000
225,000,000
45,000,000
-370,000,000
489,000,000
-265,000,000
-815,000,000
-517,000,000
-37,000,000
46,692,540
Effect of FX on Cash Margin
-0.19%
-0.11%
-0.12%
-0.25%
-0.06%
-0.26%
-0.17%
0.18%
0.03%
-0.23%
0.31%
-0.17%
-0.54%
-0.36%
-0.03%
0.04%
Net Change in Cash
817,666,667
1,089,800,000
1,243,300,000
-1,920,000,000
-230,000,000
4,603,000,000
-5,198,000,000
8,194,000,000
834,000,000
-1,731,000,000
2,619,000,000
1,747,000,000
3,515,000,000
-3,711,000,000
131,559,140
-1,363,239,060
Net Change in Cash Margin
0.58%
0.88%
0.90%
-1.04%
-0.13%
2.91%
-3.81%
6.44%
0.53%
-1.08%
1.67%
1.15%
2.35%
-2.58%
0.09%
-1.11%
Cash at Beginning of Period
23,729,000,000
22,972,600,000
19,145,600,000
25,110,000,000
25,340,000,000
20,737,000,000
25,935,000,000
17,741,000,000
16,907,000,000
18,638,000,000
16,019,000,000
14,272,000,000
10,757,000,000
14,468,000,000
14,336,440,860
15,699,679,920
Cash at Beginning of Period Margin
13.69%
14.81%
12.33%
13.57%
14.38%
13.12%
19.02%
13.95%
10.84%
11.62%
10.22%
9.40%
7.19%
10.04%
9.76%
12.84%
Cash at End of Period
24,546,666,667
24,062,400,000
20,388,900,000
23,190,000,000
25,110,000,000
25,340,000,000
20,737,000,000
25,935,000,000
17,741,000,000
16,907,000,000
18,638,000,000
16,019,000,000
14,272,000,000
10,757,000,000
14,468,000,000
14,336,440,860
Cash at End of Period Margin
14.27%
15.69%
13.23%
12.54%
14.25%
16.03%
15.21%
20.40%
11.38%
10.54%
11.89%
10.55%
9.54%
7.47%
9.85%
11.72%
Operating Cash Flow
12,398,000,000
15,450,000,000
16,408,300,000
15,423,000,000
14,918,000,000
6,853,000,000
15,787,000,000
24,269,000,000
17,639,000,000
15,022,000,000
18,096,000,000
19,850,000,000
16,226,000,000
14,507,000,000
10,444,000,000
8,281,059,300
Operating Cash Flow Margin
7.05%
10.36%
10.80%
8.34%
8.47%
4.34%
11.58%
19.09%
11.31%
9.37%
11.54%
13.08%
10.85%
10.07%
7.11%
6.77%
Capital Expenditure
-7,928,666,667
-7,151,000,000
-7,240,900,000
-8,684,000,000
-8,236,000,000
-6,866,000,000
-6,227,000,000
-5,742,000,000
-7,632,000,000
-7,785,000,000
-7,049,000,000
-6,992,000,000
-7,196,000,000
-7,463,000,000
-6,597,000,000
-5,024,483,520
Capital Expenditure Margin
-4.57%
-4.56%
-4.65%
-4.69%
-4.67%
-4.34%
-4.57%
-4.52%
-4.90%
-4.86%
-4.50%
-4.61%
-4.81%
-5.18%
-4.49%
-4.11%
Free Cash Flow
4,469,333,333
8,299,000,000
9,167,400,000
6,739,000,000
6,682,000,000
-13,000,000
9,560,000,000
18,527,000,000
10,007,000,000
7,237,000,000
11,047,000,000
12,858,000,000
9,030,000,000
7,044,000,000
3,847,000,000
3,256,575,780
Free Cash Flow Margin
2.48%
5.80%
6.15%
3.64%
3.79%
-0.01%
7.01%
14.57%
6.42%
4.51%
7.05%
8.47%
6.04%
4.89%
2.62%
2.66%

Free Cash Flow Margins

Metric3Y Avg5Y Avg10Y Avg2024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-312014-12-312013-12-312012-12-31
Revenue
173,080,000,000
156,545,000,000
155,709,700,000
184,992,000,000
176,191,000,000
158,057,000,000
136,341,000,000
127,144,000,000
155,900,000,000
160,338,000,000
156,776,000,000
151,800,000,000
149,558,000,000
144,077,000,000
146,917,000,000
122,278,606,860
EBITDA
12,472,333,333
10,658,200,000
11,962,600,000
11,067,000,000
11,817,000,000
14,533,000,000
12,677,000,000
3,197,000,000
8,603,000,000
13,467,000,000
15,168,000,000
13,080,000,000
16,017,000,000
8,132,000,000
19,724,000,000
10,525,963,380
EBITDA Margin
7.29%
6.74%
7.66%
5.98%
6.71%
9.19%
9.30%
2.51%
5.52%
8.40%
9.67%
8.62%
10.71%
5.64%
13.43%
8.61%
(-) Tax Adjustment
-1,064,290,028
-565,441,561
-108,541,996
2,048,764,413
-1,078,334,762
-4,163,299,735
-92,688,976
458,351,254
-9,732,143,750
2,014,626,007
747,338,644
4,210,896,226
4,501,070,718
26,359,806
3,328,279,173
2,792,040,038
(-) Tax Adjustment Margin
-0.71%
-0.37%
-0.06%
1.11%
-0.61%
-2.63%
-0.07%
0.36%
-6.24%
1.26%
0.48%
2.77%
3.01%
0.02%
2.27%
2.28%
(-) Change In Working Capital
-9,918,000,000
-2,565,600,000
-2,983,800,000
-6,769,000,000
-8,666,000,000
-14,319,000,000
4,737,000,000
12,189,000,000
944,000,000
-5,475,000,000
-4,103,000,000
-3,658,000,000
-4,718,000,000
-3,832,000,000
-2,350,000,000
-3,578,845,860
(-) Change In Working Capital Margin
-5.88%
-0.92%
-1.56%
-3.66%
-4.92%
-9.06%
3.47%
9.59%
0.61%
-3.41%
-2.62%
-2.41%
-3.15%
-2.66%
-1.60%
-2.93%
(-) Capital Expenditure
-7,928,666,667
-7,151,000,000
-7,240,900,000
-8,684,000,000
-8,236,000,000
-6,866,000,000
-6,227,000,000
-5,742,000,000
-7,632,000,000
-7,785,000,000
-7,049,000,000
-6,992,000,000
-7,196,000,000
-7,463,000,000
-6,597,000,000
-5,024,483,520
(-) Capital Expenditure Margin
-4.57%
-4.56%
-4.65%
-4.69%
-4.67%
-4.34%
-4.57%
-4.52%
-4.90%
-4.86%
-4.50%
-4.61%
-4.81%
-5.18%
-4.49%
-4.11%
Unlevered Free Cash Flow
15,525,956,694
6,638,241,561
7,814,041,996
7,103,235,587
13,325,334,762
26,149,299,735
1,805,688,976
-15,192,351,254
9,759,143,750
9,142,373,993
11,474,661,356
5,535,103,774
9,037,929,282
4,474,640,194
12,148,720,827
6,288,285,682
Unlevered Free Cash Flow Margin
9.32%
3.46%
4.63%
3.84%
7.56%
16.54%
1.32%
-11.95%
6.26%
5.70%
7.32%
3.65%
6.04%
3.11%
8.27%
5.14%
(-) Net Interest Income After Taxes
476,044,519
801,701,676
746,096,759
329,210,010
271,721,956
827,201,592
1,553,274,466
1,027,100,358
1,163,662,500
609,342,578
784,596,459
506,137,797
388,719,880
490,119,316
492,996,316
296,656,536
(-) Net Interest Income After Taxes Margin
0.29%
0.56%
0.50%
0.18%
0.15%
0.52%
1.14%
0.81%
0.75%
0.38%
0.50%
0.33%
0.26%
0.34%
0.34%
0.24%
Net Debt Issuance
7,047,000,000
52,800,000
3,502,600,000
11,632,000,000
9,694,000,000
-185,000,000
-26,263,000,000
5,386,000,000
1,107,000,000
5,958,000,000
5,031,000,000
7,164,000,000
15,502,000,000
11,184,000,000
12,590,000,000
0
Net Debt Issuance Margin
3.89%
-0.67%
1.94%
6.29%
5.50%
-0.12%
-19.26%
4.24%
0.71%
3.72%
3.21%
4.72%
10.37%
7.76%
8.57%
0.00%
Levered Free Cash Flow
22,096,912,175
5,889,339,885
10,570,545,237
18,406,025,577
22,747,612,806
25,137,098,143
-26,010,585,489
-10,833,451,613
9,702,481,250
14,491,031,416
15,721,064,897
12,192,965,977
24,151,209,402
15,168,520,878
24,245,724,511
5,991,629,146
Levered Free Cash Flow Margin
12.92%
2.23%
6.06%
9.95%
12.91%
15.90%
-19.08%
-8.52%
6.22%
9.04%
10.03%
8.03%
16.15%
10.53%
16.50%
4.90%