Leonardo DRS, Inc. (DRS)

Category: Company Returns Sector: Industrials Industry: Aerospace & Defense Live Price: $42.57

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	2008-03-31	2007-03-31	2006-03-31
Net Income	262M	205M	146M	265M	198M	213M	168M	405M	154M	85M	75M	-10M	166M	127M	81M
Revenue	2,918M	2,882M	2,731M	3,569M	3,179M	3,234M	2,826M	2,693M	2,879M	2,778M	2,714M	2,333M	3,295M	2,821M	1,736M
Return on Revenue	9.19%	7.20%	5.25%	7.43%	6.23%	6.59%	5.94%	15.04%	5.35%	3.06%	2.76%	-0.43%	5.03%	4.50%	4.70%
Cost of Revenue	2,265M	2,282M	2,241M	2,734M	2,468M	2,498M	2,178M	2,118M	2,332M	2,284M	2,255M	1,919M	2,869M	2,459M	1,495M
Return on Cost of Revenue	11.79%	9.14%	6.49%	9.69%	8.02%	8.53%	7.71%	19.12%	6.60%	3.72%	3.33%	-0.52%	5.78%	5.17%	5.45%
Gross Profit	653M	600M	490M	835M	711M	736M	648M	575M	547M	494M	459M	414M	426M	362M	240M
Return on Gross Profit	41.77%	34.13%	29.24%	31.74%	27.85%	28.94%	25.93%	70.43%	28.15%	17.21%	16.34%	-2.42%	38.87%	35.05%	33.91%
R&D Expenses	0M	0M	16M	0M	0M	0M	0M	0M	0M	0M	0M	0M	66M	51M	48M
Return on R&D Expenses	0.00%	0.00%	67.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	250.79%	249.63%	171.21%
SG&A Expenses	385M	346M	228M	469M	404M	414M	384M	357M	293M	283M	277M	268M	0M	0M	0M
Return on SG&A Expenses	69.55%	58.25%	31.46%	56.50%	49.01%	51.45%	43.75%	113.45%	52.56%	30.04%	27.08%	-3.73%	0.00%	0.00%	0.00%
Operating Expenses	291M	300M	233M	493M	433M	443M	417M	14M	311M	313M	296M	369M	66M	51M	48M
Return on Operating Expenses	993.74%	611.58%	375.21%	53.75%	45.73%	48.08%	40.29%	2,892.86%	49.52%	27.16%	25.34%	-2.71%	250.79%	249.63%	171.21%
Operating Income (EBIT)	362M	300M	257M	342M	278M	293M	231M	561M	236M	181M	163M	45M	360M	312M	193M
Return on Operating Income (EBIT)	72.54%	65.97%	48.27%	77.49%	71.22%	72.70%	72.73%	72.19%	65.25%	46.96%	46.01%	-22.22%	46.00%	40.78%	42.29%
Interest Income	0M	0M	1M	0M	0M	0M	0M	0M	0M	0M	0M	0M	2M	1M	7M
Return on Interest Income	0.00%	0.00%	1,915.96%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8,054.86%	9,981.15%	1,123.59%
Interest Expense	30M	38M	61M	11M	26M	21M	36M	34M	35M	64M	65M	58M	110M	120M	63M
Return on Interest Expense	890.71%	648.99%	372.83%	2,409.09%	761.54%	1,014.29%	466.67%	1,191.18%	440.00%	132.81%	115.38%	-17.24%	150.12%	105.96%	129.18%
Net Interest Income	-30M	-38M	-60M	-11M	-26M	-21M	-36M	-34M	-35M	-64M	-65M	-58M	-108M	-119M	-56M
Return on Net Interest Income	-890.71%	-648.99%	-374.91%	-2,409.09%	-761.54%	-1,014.29%	-466.67%	-1,191.18%	-440.00%	-132.81%	-115.38%	17.24%	-152.97%	-107.10%	-145.96%
Unusual Items	65M	80M	122M	30M	56M	50M	75M	70M	71M	133M	133M	120M	217M	242M	113M
Return on Unusual Items	409.52%	301.88%	175.81%	883.33%	353.57%	426.00%	224.00%	578.57%	216.90%	63.91%	56.39%	-8.33%	76.23%	52.58%	71.81%
EBT Excluding Unusual Items	262M	179M	72M	293M	192M	214M	117M	455M	129M	-21M	-38M	-137M	34M	-53M	22M
Return on EBT Excluding Unusual Items	110.71%	9.35%	48.51%	90.44%	103.13%	99.53%	143.59%	89.01%	119.38%	-404.76%	-197.37%	7.30%	489.96%	-239.58%	378.04%
Pre-Tax Income	327M	259M	195M	323M	248M	264M	192M	525M	200M	112M	95M	-17M	251M	189M	135M
Return on Pre-Tax Income	81.77%	79.64%	72.97%	82.04%	79.84%	80.68%	87.50%	77.14%	77.00%	75.89%	78.95%	58.82%	65.97%	67.37%	60.34%
Income Tax Expense	65M	54M	48M	58M	50M	51M	24M	120M	46M	27M	20M	-7M	84M	60M	52M
Return on Income Tax Expense	485.05%	420.95%	318.87%	456.90%	396.00%	417.65%	700.00%	337.50%	334.78%	314.81%	375.00%	142.86%	197.92%	211.40%	156.74%
Depreciation and Amortization	80M	70M	73M	92M	90M	91M	85M	65M	58M	53M	51M	128M	78M	77M	49M
Return on Depreciation and Amortization	351.60%	296.14%	216.40%	288.04%	220.00%	234.07%	197.65%	623.08%	265.52%	160.38%	147.06%	-7.81%	212.01%	165.74%	166.37%
EBITDA	438M	367M	328M	426M	364M	376M	313M	624M	293M	229M	211M	169M	439M	385M	242M
Return on EBITDA	58.41%	52.98%	39.90%	62.21%	54.40%	56.65%	53.67%	64.90%	52.56%	37.12%	35.55%	-5.92%	37.80%	32.99%	33.72%
NOPAT	290M	238M	192M	281M	222M	236M	202M	433M	182M	137M	129M	26M	240M	212M	119M
Return on NOPAT	88.93%	82.69%	63.15%	94.44%	89.21%	90.10%	83.12%	93.58%	84.75%	61.88%	58.28%	-37.78%	69.00%	59.85%	68.76%
Owner's Earnings	272M	210M	161M	238M	214M	219M	193M	405M	152M	82M	71M	78M	173M	148M	87M
Return on Owner's Earnings	94.77%	97.86%	85.74%	111.34%	92.52%	97.26%	87.05%	100.00%	101.32%	103.66%	105.63%	-12.82%	96.02%	85.96%	93.37%

Balance Sheet Returns

Metric	3Y Avg	5Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2008-03-31	2007-03-31	2006-03-31
Net Income	262M	205M	213M	168M	405M	154M	85M	75M	166M	127M	81M
Cash & Cash Equivalents	457M	334M	598M	467M	306M	240M	61M	85M	86M	96M	1M
Return on Cash & Cash Equivalents	67.98%	81.49%	35.62%	35.97%	132.35%	64.17%	139.34%	88.24%	192.19%	132.58%	6,302.71%
Short-Term Investments	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%
Cash & Short-Term Investments	457M	334M	598M	467M	306M	240M	61M	85M	86M	96M	1M
Return on Cash & Short-Term Investments	67.98%	81.49%	35.62%	35.97%	132.35%	64.17%	139.34%	88.24%	192.19%	132.58%	6,302.71%
Net Receivables	1,074M	1,002M	1,125M	1,059M	1,038M	899M	889M	902M	574M	535M	435M
Return on Net Receivables	24.60%	20.10%	18.93%	15.86%	39.02%	17.13%	9.56%	8.31%	28.87%	23.74%	18.73%
Inventory	335M	292M	358M	329M	319M	205M	247M	209M	438M	368M	332M
Return on Inventory	79.17%	69.41%	59.50%	51.06%	126.96%	75.12%	34.41%	35.89%	37.87%	34.56%	24.57%
Other Current Assets	40M	35M	55M	42M	24M	22M	33M	36M	58M	72M	60M
Return on Other Current Assets	824.92%	686.47%	387.27%	400.00%	1,687.50%	700.00%	257.58%	208.33%	285.32%	177.71%	136.73%
Total Current Assets	1,929M	1,688M	2,163M	1,918M	1,707M	1,389M	1,263M	1,251M	1,226M	1,126M	904M
Return on Total Current Assets	14.11%	12.03%	9.85%	8.76%	23.73%	11.09%	6.73%	6.00%	13.53%	11.29%	9.02%
Property, Plant & Equipment	415M	393M	440M	402M	404M	364M	355M	253M	256M	231M	221M
Return on Property, Plant & Equipment	63.48%	51.34%	48.41%	41.79%	100.25%	42.31%	23.94%	29.64%	64.84%	54.96%	36.96%
Goodwill	1,237M	1,168M	1,238M	1,238M	1,236M	1,071M	1,057M	1,057M	2,625M	2,617M	2,608M
Return on Goodwill	21.18%	17.19%	17.21%	13.57%	32.77%	14.38%	8.04%	7.10%	6.32%	4.86%	3.12%
Intangible Assets	152M	113M	132M	151M	172M	52M	60M	69M	0M	0M	0M
Return on Intangible Assets	169.36%	189.18%	161.36%	111.26%	235.47%	296.15%	141.67%	108.70%	0.00%	0.00%	0.00%
Long-Term Investments	0M	10M	0M	0M	0M	27M	25M	0M	168M	197M	231M
Return on Long-Term Investments	0.00%	182.07%	0.00%	0.00%	0.00%	570.37%	340.00%	0.00%	98.80%	64.50%	35.26%
Tax Assets	103M	90M	120M	123M	66M	56M	87M	117M	4M	2M	2M
Return on Tax Assets	309.24%	260.08%	177.50%	136.59%	613.64%	275.00%	97.70%	64.10%	3,946.88%	7,941.25%	3,395.58%
Other Non-Current Assets	91M	98M	91M	89M	92M	110M	109M	141M	38M	43M	56M
Return on Other Non-Current Assets	287.68%	216.21%	234.07%	188.76%	440.22%	140.00%	77.98%	53.19%	433.50%	298.15%	144.97%
Other Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Other Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Non-Current Assets	1,998M	1,873M	2,021M	2,003M	1,970M	1,680M	1,693M	1,637M	3,090M	3,089M	3,118M
Return on Total Non-Current Assets	13.16%	10.73%	10.54%	8.39%	20.56%	9.17%	5.02%	4.58%	5.36%	4.11%	2.61%
Total Assets	3,927M	3,561M	4,184M	3,921M	3,677M	3,069M	2,956M	2,888M	4,316M	4,215M	4,022M
Return on Total Assets	6.80%	5.66%	5.09%	4.28%	11.01%	5.02%	2.88%	2.60%	3.84%	3.01%	2.03%
Accounts Payable	427M	448M	426M	398M	457M	479M	478M	536M	358M	297M	225M
Return on Accounts Payable	60.28%	46.15%	50.00%	42.21%	88.62%	32.15%	17.78%	13.99%	46.32%	42.72%	36.27%
Short-Term Debt	37M	41M	25M	57M	29M	41M	53M	56M	5M	5M	5M
Return on Short-Term Debt	847.76%	615.86%	852.00%	294.74%	1,396.55%	375.61%	160.38%	133.93%	3,078.92%	2,461.93%	1,763.18%
Tax Payables	34M	20M	24M	46M	31M	0M	0M	0M	37M	51M	35M
Return on Tax Payables	853.06%	511.83%	887.50%	365.22%	1,306.45%	0.00%	0.00%	0.00%	448.61%	246.86%	235.80%
Deferred Revenue	322M	264M	399M	335M	233M	174M	177M	175M	37M	51M	35M
Return on Deferred Revenue	92.45%	82.78%	53.38%	50.15%	173.82%	88.51%	48.02%	42.86%	448.61%	246.86%	235.80%
Other Current Liabilities	163M	175M	140M	146M	204M	201M	184M	136M	371M	332M	346M
Return on Other Current Liabilities	155.25%	117.71%	152.14%	115.07%	198.53%	76.62%	46.20%	55.15%	44.73%	38.27%	23.53%
Total Current Liabilities	1,079M	1,040M	1,116M	1,078M	1,042M	989M	975M	1,001M	871M	771M	703M
Return on Total Current Liabilities	24.51%	19.57%	19.09%	15.58%	38.87%	15.57%	8.72%	7.49%	19.04%	16.49%	11.59%
Long-Term Debt	351M	356M	340M	349M	365M	352M	374M	656M	1,627M	1,783M	1,829M
Return on Long-Term Debt	73.91%	57.64%	62.65%	48.14%	110.96%	43.75%	22.73%	11.43%	10.19%	7.13%	4.46%
Capital Lease Obligations	92M	95M	93M	91M	93M	97M	103M	109M	0M	0M	0M
Return on Capital Lease Obligations	283.04%	218.08%	229.03%	184.62%	435.48%	158.76%	82.52%	68.81%	0.00%	0.00%	0.00%
Deferred Tax Liabilities	4M	2M	7M	4M	0M	0M	0M	0M	42M	47M	36M
Return on Deferred Tax Liabilities	2,414.29%	1,448.57%	3,042.86%	4,200.00%	0.00%	0.00%	0.00%	0.00%	393.75%	273.25%	228.92%
Other Non-Current Liabilities	90M	86M	98M	97M	75M	62M	99M	124M	92M	112M	103M
Return on Other Non-Current Liabilities	310.18%	252.96%	217.35%	173.20%	540.00%	248.39%	85.86%	60.48%	180.05%	113.26%	79.27%
Total Non-Current Liabilities	512M	516M	511M	518M	508M	487M	554M	868M	1,762M	1,942M	1,967M
Return on Total Non-Current Liabilities	51.28%	40.16%	41.68%	32.43%	79.72%	31.62%	15.34%	8.64%	9.41%	6.54%	4.14%
Total Liabilities	1,591M	1,556M	1,627M	1,596M	1,550M	1,476M	1,529M	1,869M	2,632M	2,712M	2,670M
Return on Total Liabilities	16.58%	13.15%	13.09%	10.53%	26.13%	10.43%	5.56%	4.01%	6.30%	4.68%	3.05%
Preferred Stock	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%
Common Stock	3M	2M	3M	3M	3M	2M	1M	1M	0M	0M	0M
Return on Common Stock	8,733.33%	8,480.00%	7,100.00%	5,600.00%	13,500.00%	7,700.00%	8,500.00%	7,500.00%	40,040.82%	31,218.67%	20,424.56%
Retained Earnings	-2,791M	-2,899M	-2,593M	-2,806M	-2,974M	-2,983M	-3,137M	-3,222M	537M	400M	278M
Return on Retained Earnings	-9.27%	-7.14%	-8.21%	-5.99%	-13.62%	-5.16%	-2.71%	-2.33%	30.86%	31.78%	29.35%
Accumulated OCI	-48M	-54M	-47M	-47M	-49M	-58M	-70M	-93M	16M	2M	-3M
Return on Accumulated OCI	-545.72%	-404.82%	-453.19%	-357.45%	-826.53%	-265.52%	-121.43%	-80.65%	1,027.20%	5,624.61%	-2,461.31%
Minority Interest	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Minority Interest	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Shareholders’ Equity	2,336M	2,006M	2,557M	2,325M	2,127M	1,593M	1,427M	1,019M	1,684M	1,502M	1,352M
Return on Total Shareholders’ Equity	11.53%	10.04%	8.33%	7.23%	19.04%	9.67%	5.96%	7.36%	9.85%	8.46%	6.03%
Total Equity	2,336M	2,006M	2,557M	2,325M	2,127M	1,593M	1,427M	1,019M	1,684M	1,502M	1,352M
Return on Total Equity	11.53%	10.04%	8.33%	7.23%	19.04%	9.67%	5.96%	7.36%	9.85%	8.46%	6.03%
Total Liabilities & Equity	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%
Total Investments	0M	10M	0M	0M	0M	27M	25M	0M	168M	197M	231M
Return on Total Investments	0.00%	182.07%	0.00%	0.00%	0.00%	570.37%	340.00%	0.00%	98.80%	64.50%	35.26%
Net Debt	24M	158M	-140M	30M	181M	250M	469M	736M	1,547M	1,692M	1,832M
Return on Net Debt	210.54%	142.27%	-152.14%	560.00%	223.76%	61.60%	18.12%	10.19%	10.72%	7.51%	4.45%

Capital Returns

Metric	3Y Avg	5Y Avg	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2008-03-31	2007-03-31	2006-03-31
Net Income	262M	205M	213M	168M	405M	154M	85M	75M	166M	127M	81M
Working Capital	851M	648M	1,047M	840M	665M	400M	288M	250M	355M	355M	200M
Return on Working Capital	33.75%	33.85%	20.34%	20.00%	60.90%	38.50%	29.51%	30.00%	46.73%	35.78%	40.66%
Total Capital	2,817M	2,498M	3,015M	2,822M	2,614M	2,083M	1,957M	1,840M	3,316M	3,291M	3,185M
Return on Total Capital	9.50%	8.05%	7.06%	5.95%	15.49%	7.39%	4.34%	4.08%	5.00%	3.86%	2.56%
Capital Employed	2,849M	2,521M	3,068M	2,843M	2,635M	2,080M	1,981M	1,887M	3,445M	3,444M	3,319M
Return on Capital Employed	9.41%	7.98%	6.94%	5.91%	15.37%	7.40%	4.29%	3.97%	4.81%	3.69%	2.46%
Invested Capital	2,360M	2,164M	2,417M	2,355M	2,308M	1,843M	1,896M	1,755M	3,230M	3,195M	3,184M
Return on Invested Capital	11.16%	9.27%	8.81%	7.13%	17.55%	8.36%	4.48%	4.27%	5.13%	3.98%	2.56%

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	2008-03-31	2007-03-31	2006-03-31
Net Income	262M	205M	146M	265M	198M	213M	168M	405M	154M	85M	75M	-10M	166M	127M	81M
Depreciation & Amortization	80M	70M	73M	92M	90M	91M	85M	65M	58M	53M	51M	128M	78M	77M	49M
Return on Depreciation & Amortization	351.60%	296.14%	216.40%	288.04%	220.00%	234.07%	197.65%	623.08%	265.52%	160.38%	147.06%	-7.81%	212.01%	165.74%	166.37%
Deferred Income Tax	-12M	5M	8M	22M	-38M	23M	-52M	-6M	31M	30M	12M	-3M	17M	11M	15M
Return on Deferred Income Tax	-2,049.00%	-1,073.38%	-172.13%	1,204.55%	-521.05%	926.09%	-323.08%	-6,750.00%	496.77%	283.33%	625.00%	333.33%	963.49%	1,196.42%	527.33%
Stock-Based Compensation	15M	9M	4M	25M	33M	22M	17M	5M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	3,352.14%	2,011.28%	1,005.64%	1,060.00%	600.00%	968.18%	988.24%	8,100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	-58M	-57M	-38M	-20M	71M	-79M	-14M	-82M	-65M	-46M	16M	-18M	-61M	-38M	1M
Return on Change in Working Capital	-654.51%	-477.05%	421.32%	-1,325.00%	278.87%	-269.62%	-1,200.00%	-493.90%	-236.92%	-184.78%	468.75%	55.56%	-273.97%	-337.27%	6,685.32%
Accounts Receivable	-29M	-35M	-29M	-3M	3M	-102M	15M	-1M	-54M	-35M	9M	44M	-39M	-101M	-29M
Return on Accounts Receivable	-13,196.27%	-8,023.37%	-4,014.68%	-8,833.33%	6,600.00%	-208.82%	1,120.00%	-40,500.00%	-285.19%	-242.86%	833.33%	-22.73%	-429.05%	-126.06%	-285.40%
Inventory	-24M	-14M	-25M	-41M	20M	-29M	-10M	-33M	42M	-38M	-36M	42M	-105M	-51M	-37M
Return on Inventory	-1,213.92%	-699.75%	-435.95%	-646.34%	990.00%	-734.48%	-1,680.00%	-1,227.27%	366.67%	-223.68%	-208.33%	-23.81%	-158.48%	-247.80%	-222.31%
Accounts Payable	-19M	-23M	30M	41M	-36M	15M	-59M	-14M	1M	-58M	156M	83M	55M	68M	51M
Return on Accounts Payable	-585.87%	2,699.17%	1,417.72%	646.34%	-550.00%	1,420.00%	-284.75%	-2,892.86%	15,400.00%	-146.55%	48.08%	-12.05%	298.98%	186.56%	159.77%
Other Working Capital	14M	15M	-14M	-17M	84M	37M	40M	-34M	-54M	85M	-113M	-187M	27M	46M	15M
Return on Other Working Capital	-65.17%	-76.14%	96.87%	-1,558.82%	235.71%	575.68%	420.00%	-1,191.18%	-285.19%	100.00%	-66.37%	5.35%	607.57%	274.47%	528.39%
Other Non-Cash Items	-117M	-70M	29M	0M	-11M	1M	1M	-354M	0M	3M	3M	8M	255M	256M	122M
Return on Other Non-Cash Items	12,661.86%	8,163.79%	4,337.54%	0.00%	-1,800.00%	21,300.00%	16,800.00%	-114.41%	0.00%	2,833.33%	2,500.00%	-125.00%	65.01%	49.66%	66.75%
Net Cash from Operating Activities	170M	162M	164M	384M	343M	271M	205M	33M	178M	125M	157M	105M	211M	195M	157M
Return on Net Cash from Operating Activities	462.61%	308.47%	177.59%	69.01%	57.73%	78.60%	81.95%	1,227.27%	86.52%	68.00%	47.77%	-9.52%	78.39%	65.08%	51.89%
Capital Expenditures (PPE)	-70M	-65M	-59M	-119M	-74M	-85M	-60M	-65M	-60M	-56M	-55M	-40M	-71M	-56M	-43M
Return on Capital Expenditures (PPE)	-384.56%	-312.42%	-232.19%	-222.69%	-267.57%	-250.59%	-280.00%	-623.08%	-256.67%	-151.79%	-136.36%	25.00%	-232.45%	-227.27%	-188.67%
Acquisitions (Net)	167M	98M	-96M	0M	1M	0M	0M	501M	-14M	5M	-4M	-6M	-6M	-17M	-1,424M
Return on Acquisitions (Net)	26.95%	136.17%	-457.00%	0.00%	19,800.00%	0.00%	0.00%	80.84%	-1,100.00%	1,700.00%	-1,875.00%	166.67%	-2,777.63%	-759.16%	-5.72%
Purchases of Investments	0M	-1M	-1M	0M	0M	0M	0M	0M	-2M	-4M	0M	0M	0M	0M	0M
Return on Purchases of Investments	0.00%	-1,965.00%	-982.50%	0.00%	0.00%	0.00%	0.00%	0.00%	-7,700.00%	-2,125.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Sales / Maturities of Investments	0M	11M	6M	0M	0M	0M	0M	0M	60M	-5M	0M	0M	0M	0M	0M
Return on Sales / Maturities of Investments	0.00%	-288.67%	-144.33%	0.00%	0.00%	0.00%	0.00%	0.00%	256.67%	-1,700.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Investing Activities	1M	9M	-4M	-15M	1M	1M	1M	0M	55M	-10M	-92M	0M	0M	3M	0M
Return on Other Investing Activities	12,700.00%	7,506.00%	21,114.08%	-1,766.67%	19,800.00%	21,300.00%	16,800.00%	0.00%	280.00%	-850.00%	-81.52%	0.00%	37,589.34%	4,661.04%	131,441.94%
Net Cash from Investing Activities	98M	52M	-155M	-134M	-72M	-84M	-59M	436M	39M	-70M	-151M	-46M	-77M	-70M	-1,467M
Return on Net Cash from Investing Activities	-148.48%	-34.40%	-60.29%	-197.76%	-275.00%	-253.57%	-284.75%	92.89%	394.87%	-121.43%	-49.67%	21.74%	-215.73%	-181.73%	-5.55%
Net Debt Issuance	-12M	-30M	66M	-10M	-125M	-43M	8M	-2M	-38M	-76M	1M	-17M	-155M	-44M	1,024M
Return on Net Debt Issuance	-6,215.12%	-3,832.49%	-1,198.93%	-2,650.00%	-158.40%	-495.35%	2,100.00%	-20,250.00%	-405.26%	-111.84%	7,500.00%	58.82%	-106.63%	-287.03%	7.96%
Long-Term Debt Issuance	-6M	-20M	76M	-12M	-121M	-11M	-12M	6M	-20M	-65M	-15M	-28M	-155M	-4M	1,060M
Return on Long-Term Debt Issuance	1,137.88%	502.57%	-102.81%	-2,208.33%	-163.64%	-1,936.36%	-1,400.00%	6,750.00%	-770.00%	-130.77%	-500.00%	35.71%	-106.63%	-2,977.74%	7.69%
Short-Term Debt Issuance	-7M	-10M	-10M	2M	-4M	-32M	20M	-8M	-18M	-11M	16M	11M	0M	-40M	-36M
Return on Short-Term Debt Issuance	-1,629.38%	-1,303.28%	-668.07%	13,250.00%	-4,950.00%	-665.63%	840.00%	-5,062.50%	-855.56%	-772.73%	468.75%	-90.91%	0.00%	-317.65%	-224.50%
Net Stock Issuance	3M	2M	2M	-27M	17M	-3M	11M	0M	0M	0M	0M	0M	11M	13M	-16M
Return on Net Stock Issuance	-1,857.58%	-1,114.55%	-353.07%	-981.48%	1,164.71%	-7,100.00%	1,527.27%	0.00%	0.00%	0.00%	0.00%	0.00%	1,569.34%	987.41%	-514.74%
Common Stock Issuance	9M	6M	4M	12M	17M	16M	12M	0M	0M	0M	0M	0M	11M	13M	-16M
Return on Common Stock Issuance	910.42%	546.25%	477.33%	2,208.33%	1,164.71%	1,331.25%	1,400.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1,569.34%	987.41%	-514.74%
Common Stock Repurchased	-7M	-4M	-2M	-39M	-2M	-19M	-1M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Common Stock Repurchased	-5,973.68%	-3,584.21%	-1,792.11%	-679.49%	-9,900.00%	-1,121.05%	-16,800.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Stock Issuance	0M	0M	0M	0M	2M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Stock Issuance	0.00%	0.00%	0.00%	0.00%	9,900.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Dividends Paid	-132M	-79M	-41M	-72M	0M	0M	0M	-396M	0M	0M	0M	0M	-5M	-5M	-4M
Return on Net Dividends Paid	-34.09%	-20.45%	-822.36%	-368.06%	0.00%	0.00%	0.00%	-102.27%	0.00%	0.00%	0.00%	0.00%	-3,361.09%	-2,560.66%	-2,199.57%
Common Dividends Paid	-132M	-79M	-41M	-55M	0M	0M	0M	-396M	0M	0M	0M	0M	-5M	-5M	-4M
Return on Common Dividends Paid	-34.09%	-20.45%	-822.36%	-481.82%	0.00%	0.00%	0.00%	-102.27%	0.00%	0.00%	0.00%	0.00%	-3,361.09%	-2,560.66%	-2,199.57%
Preferred Dividends Paid	0M	0M	0M	-17M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Preferred Dividends Paid	0.00%	0.00%	0.00%	-1,558.82%	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	-6M	-5M	-3M	-30M	-12M	-10M	-4M	-5M	0M	-4M	-2M	-13M	5M	5M	0M
Return on Other Financing Activities	-4,810.00%	-3,311.00%	-1,483.26%	-883.33%	-1,650.00%	-2,130.00%	-4,200.00%	-8,100.00%	0.00%	-2,125.00%	-3,750.00%	76.92%	3,024.98%	2,370.52%	0.00%
Net Cash from Financing Activities	-148M	-112M	24M	-139M	-120M	-56M	15M	-403M	-38M	-80M	-1M	-30M	-144M	-31M	1,004M
Return on Net Cash from Financing Activities	213.05%	25.53%	-785.56%	-190.65%	-165.00%	-380.36%	1,120.00%	-100.50%	-405.26%	-106.25%	-7,500.00%	33.33%	-114.84%	-409.86%	8.12%
Effect of FX on Cash	0M	0M	0M	0M	0M	0M	0M	0M	0M	1M	1M	-2M	0M	0M	0M
Return on Effect of FX on Cash	0.00%	1,700.00%	1,650.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8,500.00%	7,500.00%	500.00%	0.00%	0.00%	0.00%
Net Change in Cash	119M	103M	32M	111M	151M	131M	161M	66M	179M	-24M	6M	27M	-10M	94M	-306M
Return on Net Change in Cash	293.53%	122.49%	20.35%	238.74%	131.13%	162.60%	104.35%	613.64%	86.03%	-354.17%	1,250.00%	-37.04%	-1,730.00%	134.72%	-26.62%
Cash at Beginning of Period	338M	232M	169M	1,454M	823M	467M	306M	240M	61M	85M	79M	52M	96M	2M	307M
Return on Cash at Beginning of Period	89.75%	124.34%	927.27%	18.23%	24.06%	45.61%	54.90%	168.75%	252.46%	100.00%	94.94%	-19.23%	172.98%	8,375.74%	26.51%
Cash at End of Period	457M	334M	202M	1,565M	974M	598M	467M	306M	240M	61M	85M	79M	86M	96M	1M
Return on Cash at End of Period	67.98%	81.49%	711.05%	16.93%	20.33%	35.62%	35.97%	132.35%	64.17%	139.34%	88.24%	-12.66%	192.19%	132.58%	6,302.71%
Operating Cash Flow	170M	162M	164M	384M	343M	271M	205M	33M	178M	125M	157M	105M	211M	195M	157M
Return on Operating Cash Flow	462.61%	308.47%	177.59%	69.01%	57.73%	78.60%	81.95%	1,227.27%	86.52%	68.00%	47.77%	-9.52%	78.39%	65.08%	51.89%
Capital Expenditure	-70M	-65M	-59M	-119M	-74M	-85M	-60M	-65M	-60M	-56M	-55M	-40M	-71M	-56M	-43M
Return on Capital Expenditure	-384.56%	-312.42%	-232.19%	-222.69%	-267.57%	-250.59%	-280.00%	-623.08%	-256.67%	-151.79%	-136.36%	25.00%	-232.45%	-227.27%	-188.67%
Free Cash Flow	100M	97M	105M	265M	269M	186M	145M	-32M	118M	69M	102M	65M	140M	139M	114M
Return on Free Cash Flow	-345.08%	-156.31%	-44.24%	100.00%	73.61%	114.52%	115.86%	-1,265.63%	130.51%	123.19%	73.53%	-15.38%	118.28%	91.19%	71.57%

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	2008-03-31	2007-03-31	2006-03-31
Net Income	262M	205M	146M	265M	198M	213M	168M	405M	154M	85M	75M	-10M	166M	127M	81M
EBITDA	438M	367M	328M	426M	364M	376M	313M	624M	293M	229M	211M	169M	439M	385M	242M
Return on EBITDA	58.41%	52.98%	39.90%	62.21%	54.40%	56.65%	53.67%	64.90%	52.56%	37.12%	35.55%	-5.92%	37.80%	32.99%	33.72%
(-) Tax Adjustment	85M	75M	71M	76M	73M	73M	39M	143M	67M	55M	44M	-70M	146M	123M	93M
Return on (-) Tax Adjustment	335.53%	277.82%	187.68%	346.43%	269.80%	293.24%	429.39%	283.95%	228.52%	153.97%	168.84%	14.37%	113.40%	103.51%	87.58%
(-) Change In Working Capital	-58M	-57M	-38M	-20M	71M	-79M	-14M	-82M	-65M	-46M	16M	-18M	-61M	-38M	1M
Return on (-) Change In Working Capital	-654.51%	-477.05%	421.32%	-1,325.00%	278.87%	-269.62%	-1,200.00%	-493.90%	-236.92%	-184.78%	468.75%	55.56%	-273.97%	-337.27%	6,685.32%
(-) Capital Expenditure	-70M	-65M	-59M	-119M	-74M	-85M	-60M	-65M	-60M	-56M	-55M	-40M	-71M	-56M	-43M
Return on (-) Capital Expenditure	-384.56%	-312.42%	-232.19%	-222.69%	-267.57%	-250.59%	-280.00%	-623.08%	-256.67%	-151.79%	-136.36%	25.00%	-232.45%	-227.27%	-188.67%
Unlevered Free Cash Flow	341M	284M	236M	251M	146M	297M	228M	498M	231M	164M	96M	217M	282M	244M	104M
Return on Unlevered Free Cash Flow	75.54%	69.06%	60.82%	105.79%	135.98%	71.63%	73.72%	81.26%	66.78%	51.89%	78.47%	-4.62%	58.87%	52.03%	78.19%
(-) Net Interest Income After Taxes	-25M	-30M	-47M	-9M	-21M	-17M	-32M	-26M	-27M	-49M	-51M	-82M	-72M	-81M	-34M
Return on (-) Net Interest Income After Taxes	-1,111.53%	-816.20%	-483.89%	-2,936.36%	-953.85%	-1,257.14%	-533.33%	-1,544.12%	-571.43%	-175.00%	-146.15%	12.21%	-229.45%	-157.20%	-237.33%
Net Debt Issuance	-12M	-30M	66M	-10M	-125M	-43M	8M	-2M	-38M	-76M	1M	-17M	-155M	-44M	1,024M
Return on Net Debt Issuance	-6,215.12%	-3,832.49%	-1,198.93%	-2,650.00%	-158.40%	-495.35%	2,100.00%	-20,250.00%	-405.26%	-111.84%	7,500.00%	58.82%	-106.63%	-287.03%	7.96%
Levered Free Cash Flow	354M	283M	349M	250M	41M	271M	267M	523M	220M	136M	148M	281M	198M	281M	1,162M
Return on Levered Free Cash Flow	72.95%	70.26%	53.43%	106.20%	478.60%	78.51%	62.83%	77.50%	70.14%	62.33%	50.71%	-3.55%	83.56%	45.26%	7.01%