Baker Hughes Company (BKR)

Category: Company Returns Sector: Energy Industry: Oil & Gas Equipment & Services Live Price: $51.75

Income Returns

Metric	3Y Avg	5Y Avg	10Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Net Income	1,440M	-1,168M	-593M	2,891M	2,240M	2,979M	1,943M	-601M	-219M	-9,940M	128M	195M	-61M	254M	-606M	1,840M
Revenue	24,830M	23,140M	20,955M	27,711M	27,300M	27,829M	25,506M	21,156M	20,502M	20,705M	23,838M	22,877M	17,179M	13,269M	16,688M	19,191M
Return on Revenue	5.16%	-6.72%	-3.43%	10.43%	8.21%	10.70%	7.62%	-2.84%	-1.07%	-48.01%	0.54%	0.85%	-0.36%	1.91%	-3.63%	9.59%
Cost of Revenue	19,642M	18,577M	16,764M	21,390M	21,543M	21,916M	20,255M	16,756M	16,453M	17,506M	19,406M	18,891M	14,143M	10,123M	12,193M	14,280M
Return on Cost of Revenue	6.53%	-7.70%	-3.97%	13.52%	10.40%	13.59%	9.59%	-3.59%	-1.33%	-56.78%	0.66%	1.03%	-0.43%	2.51%	-4.97%	12.89%
Gross Profit	5,164M	4,548M	4,183M	6,321M	5,757M	5,840M	5,251M	4,400M	4,049M	3,199M	4,432M	3,986M	3,036M	3,146M	4,495M	4,911M
Return on Gross Profit	24.78%	-48.36%	-24.14%	45.74%	38.91%	51.01%	37.00%	-13.66%	-5.41%	-310.72%	2.89%	4.89%	-2.01%	8.07%	-13.48%	37.47%
R&D Expenses	214M	227M	378M	453M	815M	643M	0M	0M	492M	0M	687M	700M	501M	352M	408M	420M
Return on R&D Expenses	154.43%	83.76%	37.67%	638.19%	274.85%	463.30%	0.00%	0.00%	-44.51%	0.00%	18.63%	27.86%	-12.18%	72.16%	-148.53%	438.10%
SG&A Expenses	2,526M	2,491M	2,457M	2,336M	2,507M	2,458M	2,611M	2,510M	2,470M	2,404M	2,832M	2,699M	2,535M	1,938M	2,115M	2,402M
Return on SG&A Expenses	57.22%	-50.14%	-25.69%	123.76%	89.35%	121.20%	74.42%	-23.94%	-8.87%	-413.48%	4.52%	7.22%	-2.41%	13.11%	-28.65%	76.60%
Operating Expenses	2,969M	6,165M	4,790M	3,070M	2,669M	2,759M	2,934M	3,215M	2,739M	19,177M	3,358M	3,285M	3,320M	2,475M	4,633M	2,389M
Return on Operating Expenses	51.83%	19.14%	10.08%	94.17%	83.93%	107.97%	66.22%	-18.69%	-8.00%	-51.83%	3.81%	5.94%	-1.84%	10.26%	-13.08%	77.02%
Operating Income (EBIT)	2,194M	-1,617M	-628M	3,252M	3,088M	3,081M	2,317M	1,185M	1,310M	-15,978M	1,074M	701M	-284M	457M	-138M	2,509M
Return on Operating Income (EBIT)	43.28%	35.06%	73.12%	88.90%	72.54%	96.69%	83.86%	-50.72%	-16.72%	62.21%	11.92%	27.82%	21.48%	55.58%	439.13%	73.34%
Interest Income	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Interest Income	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%
Interest Expense	222M	246M	204M	216M	188M	198M	216M	252M	299M	264M	237M	223M	131M	102M	120M	232M
Return on Interest Expense	721.86%	-334.56%	-183.39%	1,338.43%	1,191.49%	1,504.55%	899.54%	-238.49%	-73.24%	-3,765.15%	54.01%	87.44%	-46.56%	249.02%	-505.00%	793.10%
Net Interest Income	-222M	-246M	-204M	-216M	-188M	-198M	-216M	-252M	-299M	-264M	-237M	-223M	-131M	-102M	-120M	-232M
Return on Net Interest Income	-721.86%	334.56%	183.39%	-1,338.43%	-1,191.49%	-1,504.55%	-899.54%	238.49%	73.24%	3,765.15%	-54.01%	-87.44%	46.56%	-249.02%	505.00%	-793.10%
Unusual Items	436M	395M	345M	327M	280M	14M	-122M	1,415M	1,181M	-512M	558M	383M	193M	201M	140M	405M
Return on Unusual Items	6,547.82%	4,313.27%	2,130.21%	884.10%	800.00%	21,278.57%	-1,592.62%	-42.47%	-18.54%	1,941.41%	22.94%	50.91%	-31.61%	126.37%	-432.86%	454.32%
EBT Excluding Unusual Items	1,545M	-2,162M	-1,114M	2,814M	2,716M	3,251M	2,777M	-1,393M	-753M	-14,690M	195M	158M	-539M	157M	-298M	1,931M
Return on EBT Excluding Unusual Items	68.25%	60.30%	86.70%	102.74%	82.47%	91.63%	69.97%	43.14%	29.08%	67.67%	65.64%	123.42%	11.32%	161.78%	203.36%	95.29%
Pre-Tax Income	1,981M	-1,766M	-768M	3,141M	2,996M	3,265M	2,655M	22M	428M	-15,202M	753M	541M	-346M	358M	-158M	2,336M
Return on Pre-Tax Income	-855.80%	-510.64%	-202.80%	92.04%	74.77%	91.24%	73.18%	-2,731.82%	-51.17%	65.39%	17.00%	36.04%	17.63%	70.95%	383.54%	78.77%
Income Tax Expense	514M	572M	429M	213M	727M	257M	685M	600M	758M	559M	482M	258M	45M	173M	473M	484M
Return on Income Tax Expense	447.54%	-92.89%	-47.92%	1,357.28%	308.12%	1,159.14%	283.65%	-100.17%	-28.89%	-1,778.18%	26.56%	75.58%	-135.56%	146.82%	-128.12%	380.17%
Depreciation and Amortization	1,095M	1,141M	1,079M	1,152M	1,118M	1,136M	1,087M	1,061M	1,105M	1,317M	1,418M	1,486M	1,103M	550M	530M	586M
Return on Depreciation and Amortization	128.11%	-78.04%	-44.18%	250.95%	200.36%	262.24%	178.75%	-56.64%	-19.82%	-754.75%	9.03%	13.12%	-5.53%	46.18%	-114.34%	313.99%
EBITDA	3,297M	-379M	538M	4,509M	4,303M	4,599M	3,958M	1,335M	1,832M	-13,621M	2,408M	2,250M	888M	1,236M	492M	3,095M
Return on EBITDA	22.95%	25.97%	3.44%	64.12%	52.06%	64.77%	49.09%	-45.02%	-11.95%	72.98%	5.32%	8.67%	-6.87%	20.55%	-123.17%	59.45%
NOPAT	-8,858M	-8,830M	-4,403M	3,031M	2,339M	2,838M	1,719M	-31,133M	-1,010M	-16,566M	387M	367M	-321M	236M	-551M	1,989M
Return on NOPAT	73.30%	60.32%	62.44%	95.37%	95.78%	104.95%	113.02%	1.93%	21.68%	60.00%	33.12%	53.18%	19.01%	107.55%	109.96%	92.50%
Owner's Earnings	1,444M	-947M	-340M	2,796M	2,077M	2,837M	1,806M	-312M	345M	-9,410M	570M	686M	377M	380M	-683M	1,843M
Return on Owner's Earnings	135.07%	89.47%	63.76%	103.40%	107.85%	105.01%	107.59%	192.63%	-63.48%	105.63%	22.46%	28.43%	-16.18%	66.84%	88.73%	99.84%

Balance Sheet Returns

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31
Net Income	1,440M	-1,168M	-593M	2,979M	1,943M	-601M	-219M	-9,940M	128M	195M	-61M	254M	-606M
Cash & Cash Equivalents	2,833M	3,297M	3,290M	3,364M	2,646M	2,488M	3,853M	4,132M	3,249M	3,723M	7,030M	981M	1,432M
Return on Cash & Cash Equivalents	45.94%	-21.68%	-11.65%	88.56%	73.43%	-24.16%	-5.68%	-240.56%	3.94%	5.24%	-0.87%	25.89%	-42.32%
Short-Term Investments	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Investments	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	2,833M	3,297M	3,290M	3,364M	2,646M	2,488M	3,853M	4,132M	3,249M	3,723M	7,030M	981M	1,432M
Return on Cash & Short-Term Investments	45.94%	-21.68%	-11.65%	88.56%	73.43%	-24.16%	-5.68%	-240.56%	3.94%	5.24%	-0.87%	25.89%	-42.32%
Net Receivables	6,718M	6,286M	5,446M	7,122M	7,075M	5,958M	5,651M	5,622M	6,416M	5,969M	6,015M	2,563M	2,067M
Return on Net Receivables	19.73%	-24.30%	-13.66%	41.83%	27.46%	-10.09%	-3.88%	-176.81%	2.00%	3.27%	-1.01%	9.91%	-29.32%
Inventory	4,878M	4,607M	4,367M	4,954M	5,094M	4,587M	3,979M	4,421M	4,608M	4,620M	4,507M	3,224M	3,671M
Return on Inventory	28.39%	-29.03%	-14.82%	60.13%	38.14%	-13.10%	-5.50%	-224.84%	2.78%	4.22%	-1.35%	7.88%	-16.51%
Other Current Assets	1,605M	1,736M	1,303M	1,771M	1,486M	1,559M	1,582M	2,280M	949M	659M	872M	633M	1,239M
Return on Other Current Assets	86.80%	-37.88%	-16.21%	168.21%	130.75%	-38.55%	-13.84%	-435.96%	13.49%	29.59%	-7.00%	40.13%	-48.91%
Total Current Assets	16,035M	15,925M	14,405M	17,211M	16,301M	14,592M	15,065M	16,455M	15,222M	14,971M	18,424M	7,401M	8,409M
Return on Total Current Assets	8.37%	-7.35%	-3.87%	17.31%	11.92%	-4.12%	-1.45%	-60.41%	0.84%	1.30%	-0.33%	3.43%	-7.21%
Property, Plant & Equipment	4,852M	4,958M	4,910M	5,127M	4,892M	4,538M	4,877M	5,358M	6,240M	6,228M	6,959M	2,325M	2,554M
Return on Property, Plant & Equipment	28.19%	-21.09%	-11.39%	58.10%	39.72%	-13.24%	-4.49%	-185.52%	2.05%	3.13%	-0.88%	10.92%	-23.73%
Goodwill	6,048M	6,016M	10,496M	6,078M	6,137M	5,930M	5,959M	5,977M	20,690M	20,717M	19,927M	6,680M	6,867M
Return on Goodwill	23.51%	-19.89%	-10.32%	49.01%	31.66%	-10.13%	-3.68%	-166.30%	0.62%	0.94%	-0.31%	3.80%	-8.82%
Intangible Assets	4,074M	4,150M	4,333M	3,951M	4,093M	4,179M	4,131M	4,397M	5,381M	5,719M	6,358M	2,449M	2,676M
Return on Intangible Assets	36.16%	-24.58%	-13.03%	75.40%	47.47%	-14.38%	-5.30%	-226.06%	2.38%	3.41%	-0.96%	10.37%	-22.65%
Long-Term Investments	0M	0M	10M	0M	0M	0M	0M	0M	0M	0M	0M	0M	95M
Return on Long-Term Investments	0.00%	0.00%	-63.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-637.89%
Tax Assets	888M	870M	742M	1,284M	722M	657M	735M	953M	954M	1,072M	715M	326M	0M
Return on Tax Assets	136.55%	-132.63%	-56.22%	232.01%	269.11%	-91.48%	-29.80%	-1,043.02%	13.42%	18.19%	-8.53%	77.91%	0.00%
Other Non-Current Assets	4,598M	4,641M	4,101M	4,712M	4,799M	4,284M	4,541M	4,867M	4,882M	3,732M	4,117M	2,540M	2,532M
Return on Other Non-Current Assets	29.89%	-23.88%	-12.69%	63.22%	40.49%	-14.03%	-4.82%	-204.23%	2.62%	5.23%	-1.48%	10.00%	-23.93%
Other Assets	0M	0M	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Assets	64,766.67%	38,860.00%	19,430.00%	0.00%	194,300.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	20,461M	20,636M	24,591M	21,152M	20,643M	19,588M	20,243M	21,552M	38,147M	37,468M	38,076M	14,320M	14,724M
Return on Total Non-Current Assets	6.81%	-5.35%	-2.84%	14.08%	9.41%	-3.07%	-1.08%	-46.12%	0.34%	0.52%	-0.16%	1.77%	-4.12%
Total Assets	36,496M	36,573M	39,003M	38,363M	36,945M	34,181M	35,348M	38,030M	53,369M	52,439M	56,500M	21,721M	23,133M
Return on Total Assets	3.76%	-3.10%	-1.64%	7.77%	5.26%	-1.76%	-0.62%	-26.14%	0.24%	0.37%	-0.11%	1.17%	-2.62%
Accounts Payable	4,437M	4,118M	3,557M	4,542M	4,471M	4,298M	3,745M	3,532M	4,268M	4,025M	3,377M	1,898M	1,409M
Return on Accounts Payable	31.69%	-38.44%	-21.58%	65.59%	43.46%	-13.98%	-5.85%	-281.43%	3.00%	4.84%	-1.81%	13.38%	-43.01%
Short-Term Debt	293M	362M	585M	53M	148M	678M	40M	889M	321M	942M	2,037M	239M	498M
Return on Short-Term Debt	2,281.65%	1,035.87%	522.15%	5,620.75%	1,312.84%	-88.64%	-547.50%	-1,118.11%	39.88%	20.70%	-2.99%	106.28%	-121.69%
Tax Payables	0M	0M	8M	0M	0M	0M	0M	0M	0M	0M	0M	78M	0M
Return on Tax Payables	0.00%	0.00%	32.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	325.64%	0.00%
Deferred Revenue	5,012M	4,344M	2,636M	5,672M	5,542M	3,822M	3,232M	3,454M	2,870M	1,765M	0M	0M	0M
Return on Deferred Revenue	23.95%	-44.54%	-20.72%	52.52%	35.06%	-15.72%	-6.78%	-287.78%	4.46%	11.05%	0.00%	0.00%	0.00%
Other Current Liabilities	2,611M	2,459M	2,822M	2,724M	2,830M	2,278M	2,111M	2,352M	2,555M	2,288M	3,813M	2,797M	4,476M
Return on Other Current Liabilities	50.55%	-56.27%	-27.39%	109.36%	68.66%	-26.38%	-10.37%	-422.62%	5.01%	8.52%	-1.60%	9.08%	-13.54%
Total Current Liabilities	12,353M	11,283M	9,617M	12,991M	12,991M	11,076M	9,128M	10,227M	10,014M	9,020M	9,227M	4,934M	6,557M
Return on Total Current Liabilities	10.82%	-13.43%	-6.84%	22.93%	14.96%	-5.43%	-2.40%	-97.19%	1.28%	2.16%	-0.66%	5.15%	-9.24%
Long-Term Debt	5,941M	6,251M	5,012M	5,970M	5,873M	5,980M	6,687M	6,744M	6,301M	6,285M	6,225M	37M	13M
Return on Long-Term Debt	24.31%	-15.55%	-404.86%	49.90%	33.08%	-10.05%	-3.28%	-147.39%	2.03%	3.10%	-0.98%	686.49%	-4,661.54%
Capital Lease Obligations	591M	598M	382M	673M	549M	552M	624M	591M	641M	103M	87M	1M	2M
Return on Capital Lease Obligations	229.23%	-205.86%	-579.01%	442.64%	353.92%	-108.88%	-35.10%	-1,681.90%	19.97%	189.32%	-70.11%	25,400.00%	-30,300.00%
Deferred Tax Liabilities	163M	160M	237M	83M	176M	229M	127M	186M	51M	143M	490M	880M	0M
Return on Deferred Tax Liabilities	1,476.90%	-217.17%	-68.21%	3,589.16%	1,103.98%	-262.45%	-172.44%	-5,344.09%	250.98%	136.36%	-12.45%	28.86%	0.00%
Other Non-Current Liabilities	2,340M	2,450M	2,172M	2,264M	2,386M	2,371M	2,620M	2,608M	2,504M	1,875M	2,061M	1,014M	2,018M
Return on Other Non-Current Liabilities	62.56%	-40.37%	-19.43%	131.58%	81.43%	-25.35%	-8.36%	-381.13%	5.11%	10.40%	-2.96%	25.05%	-30.03%
Total Non-Current Liabilities	8,444M	8,861M	7,439M	8,317M	8,435M	8,580M	9,434M	9,538M	8,856M	8,406M	8,863M	1,932M	2,031M
Return on Total Non-Current Liabilities	17.28%	-10.94%	-6.83%	35.82%	23.03%	-7.00%	-2.32%	-104.21%	1.45%	2.32%	-0.69%	13.15%	-29.84%
Total Liabilities	20,797M	20,143M	17,056M	21,308M	21,426M	19,656M	18,562M	19,765M	18,870M	17,426M	18,090M	6,866M	8,588M
Return on Total Liabilities	6.66%	-6.30%	-3.34%	13.98%	9.07%	-3.06%	-1.18%	-50.29%	0.68%	1.12%	-0.34%	3.70%	-7.06%
Preferred Stock	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock	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	0M	0M	1,592M	0M	0M	0M	0M	0M	0M	0M	0M	0M	15,920M
Return on Common Stock	0.00%	0.00%	-0.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3.81%
Retained Earnings	-8,473M	-9,104M	-4,560M	-5,840M	-8,819M	-10,761M	-10,160M	-9,942M	0M	25M	-103M	0M	0M
Return on Retained Earnings	-22.49%	6.94%	87.39%	-51.01%	-22.03%	5.58%	2.16%	99.98%	0.00%	780.00%	59.22%	0.00%	0.00%
Accumulated OCI	-2,976M	-2,618M	-2,008M	-3,161M	-2,796M	-2,971M	-2,385M	-1,778M	-1,636M	-1,219M	-703M	-1,894M	-1,532M
Return on Accumulated OCI	-47.84%	84.95%	43.57%	-94.24%	-69.49%	20.23%	9.18%	559.06%	-7.82%	-16.00%	8.68%	-13.41%	39.56%
Minority Interest	147M	1,541M	6,228M	160M	151M	131M	1,916M	5,349M	12,570M	17,548M	24,133M	167M	157M
Return on Minority Interest	896.62%	498.52%	226.06%	1,861.88%	1,286.75%	-458.78%	-11.43%	-185.83%	1.02%	1.11%	-0.25%	152.10%	-385.99%
Total Shareholders’ Equity	15,552M	14,876M	15,713M	16,895M	15,368M	14,394M	14,830M	12,893M	21,929M	17,465M	14,277M	14,688M	14,388M
Return on Total Shareholders’ Equity	8.70%	-10.49%	-5.37%	17.63%	12.64%	-4.18%	-1.48%	-77.10%	0.58%	1.12%	-0.43%	1.73%	-4.21%
Total Equity	15,700M	16,417M	21,941M	17,055M	15,519M	14,525M	16,746M	18,242M	34,499M	35,013M	38,410M	14,855M	14,545M
Return on Total Equity	8.62%	-5.99%	-3.16%	17.47%	12.52%	-4.14%	-1.31%	-54.49%	0.37%	0.56%	-0.16%	1.71%	-4.17%
Total Liabilities & Equity	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Total Liabilities & Equity	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	0M	0M	10M	0M	0M	0M	0M	0M	0M	0M	0M	0M	95M
Return on Total Investments	0.00%	0.00%	-63.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-637.89%
Net Debt	3,401M	3,316M	2,325M	2,659M	3,375M	4,170M	2,874M	3,501M	3,373M	3,607M	1,319M	-704M	-921M
Return on Net Debt	51.73%	-27.27%	-10.21%	112.03%	57.57%	-14.41%	-7.62%	-283.92%	3.79%	5.41%	-4.62%	-36.08%	65.80%

Capital Returns

Metric	3Y Avg	5Y Avg	10Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31
Net Income	1,440M	-1,168M	-593M	2,979M	1,943M	-601M	-219M	-9,940M	128M	195M	-61M	254M	-606M
Working Capital	3,682M	4,642M	4,789M	4,220M	3,310M	3,516M	5,937M	6,228M	5,208M	5,951M	9,197M	2,467M	1,852M
Return on Working Capital	37.40%	-10.22%	-6.84%	70.59%	58.70%	-17.09%	-3.69%	-159.60%	2.46%	3.28%	-0.66%	10.30%	-32.72%
Total Capital	21,786M	21,488M	21,328M	22,918M	21,389M	21,052M	21,557M	20,526M	28,551M	24,795M	22,626M	14,965M	14,899M
Return on Total Capital	6.41%	-6.04%	-3.16%	13.00%	9.08%	-2.85%	-1.02%	-48.43%	0.45%	0.79%	-0.27%	1.70%	-4.07%
Capital Employed	24,144M	25,291M	29,386M	25,372M	23,954M	23,105M	26,220M	27,803M	43,355M	43,419M	47,273M	16,787M	16,576M
Return on Capital Employed	5.75%	-3.87%	-2.09%	11.74%	8.11%	-2.60%	-0.84%	-35.75%	0.30%	0.45%	-0.13%	1.51%	-3.66%
Invested Capital	18,954M	18,192M	18,038M	19,554M	18,743M	18,564M	17,704M	16,394M	25,302M	21,072M	15,596M	13,984M	13,467M
Return on Invested Capital	7.45%	-7.90%	-4.11%	15.23%	10.37%	-3.24%	-1.24%	-60.63%	0.51%	0.93%	-0.39%	1.82%	-4.50%

Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Net Income	1,440M	-1,168M	-593M	2,891M	2,240M	2,979M	1,943M	-601M	-219M	-9,940M	128M	195M	-61M	254M	-606M	1,840M
Depreciation & Amortization	1,095M	1,141M	1,079M	1,153M	1,118M	1,136M	1,087M	1,061M	1,105M	1,317M	1,418M	1,486M	1,103M	550M	530M	586M
Return on Depreciation & Amortization	128.11%	-78.04%	-44.18%	250.74%	200.36%	262.24%	178.75%	-56.64%	-19.82%	-754.75%	9.03%	13.12%	-5.53%	46.18%	-114.34%	313.99%
Deferred Income Tax	-208M	-66M	-92M	-750M	-92M	-671M	-59M	105M	133M	160M	51M	-249M	-333M	39M	-96M	0M
Return on Deferred Income Tax	-1,436.52%	-2,137.35%	-921.32%	-385.47%	-2,434.78%	-443.96%	-3,293.22%	-572.38%	-164.66%	-6,212.50%	250.98%	-78.31%	18.32%	651.28%	631.25%	0.00%
Stock-Based Compensation	202M	204M	125M	201M	203M	202M	197M	207M	205M	210M	187M	0M	37M	0M	0M	27M
Return on Stock-Based Compensation	723.57%	-533.89%	-276.59%	1,438.31%	1,103.45%	1,474.75%	986.29%	-290.34%	-106.83%	-4,733.33%	68.45%	0.00%	-164.86%	0.00%	0.00%	6,814.81%
Change in Working Capital	166M	311M	167M	484M	-287M	-53M	428M	122M	614M	443M	437M	274M	-1,201M	-639M	1,245M	-286M
Return on Change in Working Capital	-1,886.47%	-1,587.77%	-792.18%	597.31%	-780.49%	-5,620.75%	453.97%	-492.62%	-35.67%	-2,243.79%	29.29%	71.17%	5.08%	-39.75%	-48.67%	-643.36%
Accounts Receivable	-590M	-243M	-245M	-362M	-327M	-159M	-986M	-625M	-126M	680M	-583M	-204M	-1,190M	278M	469M	-102M
Return on Accounts Receivable	-658.16%	-652.49%	-341.27%	-798.62%	-685.02%	-1,873.58%	-197.06%	96.16%	173.81%	-1,461.76%	-21.96%	-95.59%	5.13%	91.37%	-129.21%	-1,803.92%
Inventory	-483M	-272M	-69M	85M	-201M	-102M	-461M	-885M	170M	-80M	-200M	-339M	418M	345M	442M	-187M
Return on Inventory	-1,091.38%	1,804.40%	882.24%	3,401.18%	-1,114.43%	-2,920.59%	-421.48%	67.91%	-128.82%	12,425.00%	-64.00%	-57.52%	-14.59%	73.62%	-137.10%	-983.96%
Accounts Payable	252M	58M	93M	-204M	230M	91M	61M	605M	246M	-711M	249M	794M	303M	-256M	-450M	291M
Return on Accounts Payable	2,119.84%	1,533.71%	775.98%	-1,417.16%	973.91%	3,273.63%	3,185.25%	-99.34%	-89.02%	1,398.03%	51.41%	24.56%	-20.13%	-99.22%	134.67%	632.30%
Other Working Capital	986M	767M	214M	965M	11M	117M	1,814M	1,027M	324M	554M	971M	23M	-732M	-1,006M	-954M	3M
Return on Other Working Capital	864.92%	146.59%	164.05%	299.59%	20,363.64%	2,546.15%	107.11%	-58.52%	-67.59%	-1,794.22%	13.18%	847.83%	8.33%	-25.25%	63.52%	61,333.33%
Other Non-Cash Items	40M	-335M	-158M	-688M	-126M	-290M	-561M	971M	-19M	-1,777M	-61M	56M	-9M	-91M	204M	-280M
Return on Other Non-Cash Items	-478.49%	55.30%	51.65%	-420.20%	-1,777.78%	-1,027.24%	-346.35%	-61.89%	1,152.63%	559.37%	-209.84%	348.21%	677.78%	-279.12%	-297.06%	-657.14%
Net Cash from Operating Activities	2,761M	2,392M	1,659M	3,338M	3,074M	3,332M	3,062M	1,888M	2,374M	1,304M	2,126M	1,762M	-799M	262M	1,277M	1,887M
Return on Net Cash from Operating Activities	40.34%	-130.09%	-57.63%	86.61%	72.87%	89.41%	63.46%	-31.83%	-9.22%	-762.27%	6.02%	11.07%	7.63%	96.95%	-47.45%	97.51%
Capital Expenditures (PPE)	-665M	-665M	-699M	-353M	-1,281M	0M	-1,224M	-772M	-541M	-787M	-976M	-995M	-665M	-424M	-607M	-583M
Return on Capital Expenditures (PPE)	-26.96%	244.52%	123.90%	-818.98%	-174.86%	0.00%	-158.74%	77.85%	40.48%	1,263.02%	-13.11%	-19.60%	9.17%	-59.91%	99.84%	-315.61%
Acquisitions (Net)	-284M	-160M	-424M	-800M	159M	0M	-8M	-845M	-109M	161M	-99M	-89M	-3,345M	-1M	95M	-592M
Return on Acquisitions (Net)	-8,072.13%	-6,037.87%	-5,657.38%	-361.38%	1,408.81%	0.00%	-24,287.50%	71.12%	200.92%	-6,173.91%	-129.29%	-219.10%	1.82%	-25,400.00%	-637.89%	-310.81%
Purchases of Investments	-9M	-35M	-17M	0M	-282M	0M	0M	-26M	-147M	0M	0M	0M	0M	0M	0M	0M
Return on Purchases of Investments	770.51%	492.10%	246.05%	0.00%	-794.33%	0.00%	0.00%	2,311.54%	148.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	163M	127M	64M	71M	187M	92M	372M	26M	147M	0M	0M	0M	0M	0M	0M	0M
Return on Sales / Maturities of Investments	482.94%	259.97%	129.98%	4,071.83%	1,197.86%	3,238.04%	522.31%	-2,311.54%	-148.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	-337M	-163M	-40M	-786M	104M	-1,108M	43M	53M	187M	8M	30M	506M	-113M	-47M	46M	339M
Return on Other Investing Activities	1,038.59%	-24,250.27%	-12,259.00%	-367.81%	2,153.85%	-268.86%	4,518.60%	-1,133.96%	-117.11%	-124,250.00%	426.67%	38.54%	53.98%	-540.43%	-1,317.39%	542.77%
Net Cash from Investing Activities	-1,132M	-896M	-1,116M	-1,868M	-1,113M	-1,016M	-817M	-1,564M	-463M	-618M	-1,045M	-578M	-4,123M	-472M	-466M	-836M
Return on Net Cash from Investing Activities	-164.20%	232.62%	119.48%	-154.76%	-201.26%	-293.21%	-237.82%	38.43%	47.30%	1,608.41%	-12.25%	-33.74%	1.48%	-53.81%	130.04%	-220.10%
Net Debt Issuance	-274M	-153M	47M	-9M	-785M	-143M	-651M	-28M	-936M	991M	-587M	-1,060M	3,088M	-156M	-45M	-248M
Return on Net Debt Issuance	-78.42%	-242.98%	-7.32%	-32,122.22%	-285.35%	-2,083.22%	-298.46%	2,146.43%	23.40%	-1,003.03%	-21.81%	-18.40%	-1.98%	-162.82%	1,346.67%	-741.94%
Long-Term Debt Issuance	-274M	-85M	237M	-9M	-785M	-143M	-651M	-28M	-63M	458M	-45M	-684M	3,751M	0M	-222M	-248M
Return on Long-Term Debt Issuance	-78.42%	-411.59%	-209.95%	-32,122.22%	-285.35%	-2,083.22%	-298.46%	2,146.43%	347.62%	-2,170.31%	-284.44%	-28.51%	-1.63%	0.00%	272.97%	-741.94%
Short-Term Debt Issuance	0M	-68M	-190M	0M	0M	0M	0M	0M	-873M	533M	-542M	-376M	-663M	-156M	177M	0M
Return on Short-Term Debt Issuance	0.00%	-367.97%	-241.13%	0.00%	0.00%	0.00%	0.00%	0.00%	25.09%	-1,864.92%	-23.62%	-51.86%	9.20%	-162.82%	-342.37%	0.00%
Net Stock Issuance	-617M	-457M	-550M	-392M	-795M	-484M	-538M	-828M	-434M	0M	-250M	-2,486M	-477M	0M	0M	-384M
Return on Net Stock Issuance	-301.35%	-170.72%	-89.99%	-737.50%	-281.76%	-615.50%	-361.15%	72.58%	50.46%	0.00%	-51.20%	-7.84%	12.79%	0.00%	0.00%	-479.17%
Common Stock Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Issuance	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 Repurchased	-617M	-457M	-550M	-392M	-795M	-484M	-538M	-828M	-434M	0M	-250M	-2,486M	-477M	0M	0M	0M
Return on Common Stock Repurchased	-301.35%	-170.72%	-89.99%	-737.50%	-281.76%	-615.50%	-361.15%	72.58%	50.46%	0.00%	-51.20%	-7.84%	12.79%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock Issuance	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	-783M	-686M	-459M	-891M	-828M	-836M	-786M	-726M	-592M	-488M	-395M	-315M	-155M	0M	-297M	-279M
Return on Net Dividends Paid	-173.59%	310.62%	170.22%	-324.47%	-270.53%	-356.34%	-247.20%	82.78%	36.99%	2,036.89%	-32.41%	-61.90%	39.35%	0.00%	204.04%	-659.50%
Common Dividends Paid	-783M	-686M	-459M	-891M	-828M	-836M	-786M	-726M	-592M	-488M	-395M	-315M	-155M	0M	-297M	-279M
Return on Common Dividends Paid	-173.59%	310.62%	170.22%	-324.47%	-270.53%	-356.34%	-247.20%	82.78%	36.99%	2,036.89%	-32.41%	-61.90%	39.35%	0.00%	204.04%	-659.50%
Preferred Dividends Paid	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Dividends Paid	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	-42M	-117M	684M	-166M	-52M	-64M	-53M	-10M	-181M	-278M	-302M	-502M	8,463M	54M	-289M	523M
Return on Other Financing Activities	-770.24%	277.16%	198.39%	-1,741.57%	-4,307.69%	-4,654.69%	-3,666.04%	6,010.00%	120.99%	3,575.54%	-42.38%	-38.84%	-0.72%	470.37%	209.69%	351.82%
Net Cash from Financing Activities	-1,716M	-1,413M	-266M	-1,458M	-2,460M	-1,527M	-2,028M	-1,592M	-2,143M	225M	-1,534M	-4,363M	10,919M	-102M	-515M	-388M
Return on Net Cash from Financing Activities	-84.38%	-932.14%	-480.54%	-198.29%	-91.06%	-195.09%	-95.81%	37.75%	10.22%	-4,417.78%	-8.34%	-4.47%	-0.56%	-249.02%	117.67%	-474.23%
Effect of FX on Cash	-76M	-60M	-79M	17M	-38M	-71M	-59M	-97M	-47M	-28M	-21M	-128M	52M	-139M	-254M	-53M
Return on Effect of FX on Cash	-2,289.80%	5,819.31%	2,827.32%	17,005.88%	-5,894.74%	-4,195.77%	-3,293.22%	619.59%	465.96%	35,500.00%	-609.52%	-152.34%	-117.31%	-182.73%	238.58%	-3,471.70%
Net Change in Cash	-163M	23M	197M	29M	-537M	718M	158M	-1,365M	-279M	883M	-474M	-3,307M	6,049M	-451M	42M	610M
Return on Net Change in Cash	562.89%	128.29%	-89.16%	9,968.97%	-417.13%	414.90%	1,229.75%	44.03%	78.49%	-1,125.71%	-27.00%	-5.90%	-1.01%	-56.32%	-1,442.86%	301.64%
Cash at Beginning of Period	2,996M	3,274M	3,092M	12,392M	10,848M	2,646M	2,488M	3,853M	4,132M	3,249M	3,723M	7,030M	981M	1,432M	1,390M	780M
Return on Cash at Beginning of Period	58.36%	-27.23%	-16.20%	23.33%	20.65%	112.59%	78.09%	-15.60%	-5.30%	-305.94%	3.44%	2.77%	-6.22%	17.74%	-43.60%	235.90%
Cash at End of Period	2,833M	3,297M	3,290M	12,421M	10,311M	3,364M	2,646M	2,488M	3,853M	4,132M	3,249M	3,723M	7,030M	981M	1,432M	1,390M
Return on Cash at End of Period	45.94%	-21.68%	-11.65%	23.28%	21.72%	88.56%	73.43%	-24.16%	-5.68%	-240.56%	3.94%	5.24%	-0.87%	25.89%	-42.32%	132.37%
Operating Cash Flow	2,761M	2,392M	1,659M	3,338M	3,074M	3,332M	3,062M	1,888M	2,374M	1,304M	2,126M	1,762M	-799M	262M	1,277M	1,887M
Return on Operating Cash Flow	40.34%	-130.09%	-57.63%	86.61%	72.87%	89.41%	63.46%	-31.83%	-9.22%	-762.27%	6.02%	11.07%	7.63%	96.95%	-47.45%	97.51%
Capital Expenditure	-1,091M	-920M	-827M	-1,248M	-1,281M	-1,278M	-1,224M	-772M	-541M	-787M	-976M	-995M	-665M	-424M	-607M	-583M
Return on Capital Expenditure	-104.66%	197.90%	100.59%	-231.65%	-174.86%	-233.10%	-158.74%	77.85%	40.48%	1,263.02%	-13.11%	-19.60%	9.17%	-59.91%	99.84%	-315.61%
Free Cash Flow	1,669M	1,472M	832M	2,090M	1,793M	2,054M	1,838M	1,116M	1,833M	517M	1,150M	767M	-1,464M	-162M	670M	1,304M
Return on Free Cash Flow	65.63%	-347.54%	-194.42%	138.33%	124.93%	145.03%	105.71%	-53.85%	-11.95%	-1,922.63%	11.13%	25.42%	4.17%	-156.79%	-90.45%	141.10%

Free Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	TTM	TTM-1	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Net Income	1,467M	1,137M	538M	2,938M	2,258M	3,008M	1,970M	-578M	336M	951M	94M	195M	-396M	403M	-606M	1,840M
EBITDA	3,297M	-379M	538M	4,509M	4,303M	4,599M	3,958M	1,335M	1,832M	-13,621M	2,408M	2,250M	888M	1,236M	492M	3,095M
Return on EBITDA	23.96%	16.65%	-3.93%	65.16%	52.48%	65.41%	49.77%	-43.30%	18.34%	-6.98%	3.90%	8.67%	-44.59%	32.61%	-123.17%	59.45%
(-) Tax Adjustment	1,351M	1,359M	1,111M	306M	1,044M	362M	1,021M	2,670M	3,245M	-501M	1,541M	1,073M	115M	597M	984M	641M
Return on (-) Tax Adjustment	334.07%	164.54%	51.00%	960.86%	216.25%	830.93%	192.91%	-21.65%	10.36%	-189.87%	6.10%	18.17%	-342.88%	67.47%	-61.59%	286.94%
(-) Change In Working Capital	166M	311M	167M	484M	-287M	-53M	428M	122M	614M	443M	437M	274M	-1,201M	-639M	1,245M	-286M
Return on (-) Change In Working Capital	-1,896.32%	-1,083.91%	-540.57%	607.02%	-786.76%	-5,675.47%	460.28%	-473.77%	54.72%	214.67%	21.51%	71.17%	32.97%	-63.07%	-48.67%	-643.36%
(-) Capital Expenditure	-1,091M	-920M	-827M	-1,248M	-1,281M	-1,278M	-1,224M	-772M	-541M	-787M	-976M	-995M	-665M	-424M	-607M	-583M
Return on (-) Capital Expenditure	-107.15%	-100.88%	-46.93%	-235.42%	-176.27%	-235.37%	-160.95%	74.87%	-62.11%	-120.84%	-9.63%	-19.60%	59.55%	-95.05%	99.84%	-315.61%
Unlevered Free Cash Flow	689M	-2,970M	-1,567M	2,471M	2,265M	3,012M	1,285M	-2,229M	-2,568M	-14,350M	-546M	-92M	1,309M	854M	-2,344M	2,157M
Return on Unlevered Free Cash Flow	93.04%	51.88%	7.31%	118.89%	99.70%	99.87%	153.33%	25.93%	-13.09%	-6.63%	-17.20%	-211.93%	-30.26%	47.21%	25.85%	85.31%
(-) Net Interest Income After Taxes	-30M	-23M	-36M	-201M	-142M	-182M	-160M	252M	231M	-254M	-85M	-117M	-114M	-53M	120M	-184M
Return on (-) Net Interest Income After Taxes	-1,035.84%	-667.15%	-453.52%	-1,459.13%	-1,585.89%	-1,648.99%	-1,229.17%	-229.37%	145.75%	-373.98%	-110.21%	-167.16%	347.48%	-764.57%	-505.00%	-1,000.37%
Net Debt Issuance	-274M	-153M	47M	-9M	-785M	-143M	-651M	-28M	-936M	991M	-587M	-1,060M	3,088M	-156M	-45M	-248M
Return on Net Debt Issuance	-113.94%	-56.35%	75.93%	-32,644.44%	-287.64%	-2,103.50%	-302.61%	2,064.29%	-35.90%	95.96%	-16.01%	-18.40%	-12.82%	-258.33%	1,346.67%	-741.94%
Levered Free Cash Flow	446M	-3,100M	-1,483M	2,664M	1,622M	3,051M	794M	-2,509M	-3,734M	-13,105M	-1,048M	-1,035M	4,510M	750M	-2,509M	2,093M
Return on Levered Free Cash Flow	123.23%	70.69%	39.47%	110.30%	139.19%	98.58%	248.08%	23.04%	-9.00%	-7.26%	-8.97%	-18.83%	-8.78%	53.70%	24.15%	87.93%