Microsoft Corporation (MSFT)

Category: Company Returns Sector: Technology Industry: Software - Infrastructure Live Price: $459.86

Income Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	87,443M	79,268M	54,246M	42,581M	35,820M	30,381M	26,229M	104,912M	90,512M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
Revenue	246,254M	221,024M	167,206M	138,266M	117,537M	100,528M	86,393M	293,812M	254,190M	281,724M	245,122M	211,915M	198,270M	168,088M	143,015M	125,843M	110,360M	96,571M	91,154M	93,580M	86,833M	77,849M	73,723M	69,943M	62,484M	58,437M	60,420M	51,122M	44,282M	39,788M	36,835M	32,187M	28,365M	25,296M	22,956M	19,747M	15,262M	11,936M	8,671M
Return on Revenue	35.42%	35.88%	30.55%	28.54%	28.42%	28.05%	28.85%	35.71%	35.61%	36.15%	35.96%	34.15%	36.69%	36.45%	30.96%	31.18%	15.02%	26.39%	22.53%	13.03%	25.42%	28.08%	23.03%	33.10%	30.02%	24.93%	29.26%	27.51%	28.45%	30.80%	22.17%	23.40%	27.60%	29.04%	41.04%	39.42%	29.42%	28.94%	25.31%
Cost of Revenue	75,936M	68,538M	53,707M	43,379M	35,259M	29,305M	24,706M	91,775M	77,911M	87,831M	74,114M	65,863M	62,650M	52,232M	46,078M	42,910M	38,353M	34,261M	32,780M	33,038M	27,078M	20,385M	17,530M	15,577M	12,395M	12,155M	11,598M	10,693M	7,650M	6,031M	6,716M	6,059M	5,191M	3,455M	3,002M	1,804M	1,436M	1,613M	708M
Return on Cost of Revenue	114.91%	115.63%	94.59%	94.47%	106.85%	117.98%	151.06%	114.31%	116.17%	115.94%	118.92%	109.87%	116.10%	117.31%	96.10%	91.45%	43.21%	74.40%	62.66%	36.91%	81.52%	107.25%	96.85%	148.62%	151.35%	119.86%	152.45%	131.53%	164.69%	203.18%	121.62%	124.29%	150.82%	212.62%	313.82%	431.54%	312.67%	214.14%	310.03%
Gross Profit	170,318M	152,486M	113,499M	94,887M	82,278M	71,223M	61,686M	202,037M	176,279M	193,893M	171,008M	146,052M	135,620M	115,856M	96,937M	82,933M	72,007M	62,310M	58,374M	60,542M	59,755M	57,464M	56,193M	54,366M	50,089M	46,282M	48,822M	40,429M	36,632M	33,757M	30,119M	26,128M	23,174M	21,841M	19,954M	17,943M	13,826M	10,323M	7,963M
Return on Gross Profit	51.20%	52.02%	45.22%	41.34%	39.72%	38.17%	37.94%	51.93%	51.35%	52.52%	51.54%	49.54%	53.63%	52.89%	45.68%	47.32%	23.01%	40.91%	35.19%	20.14%	36.94%	38.05%	30.21%	42.58%	37.45%	31.48%	36.22%	34.79%	34.39%	36.30%	27.12%	28.82%	33.78%	33.63%	47.21%	43.39%	32.48%	33.46%	27.56%
R&D Expenses	29,731M	26,884M	21,032M	17,534M	15,130M	13,196M	11,417M	33,090M	30,395M	32,488M	29,510M	27,195M	24,512M	20,716M	19,269M	16,876M	14,726M	13,037M	11,988M	12,046M	11,381M	10,411M	9,811M	9,043M	8,714M	9,010M	8,164M	7,121M	6,584M	6,184M	7,779M	4,659M	4,307M	4,379M	3,775M	2,970M	2,502M	1,925M	1,432M
Return on R&D Expenses	292.73%	294.14%	241.24%	223.11%	216.45%	205.74%	205.57%	317.05%	297.79%	313.44%	298.66%	266.08%	296.74%	295.77%	229.80%	232.52%	112.53%	195.51%	171.33%	101.22%	193.95%	210.00%	173.05%	256.00%	215.29%	161.70%	216.57%	197.51%	191.36%	198.16%	105.00%	161.64%	181.77%	167.76%	249.56%	262.12%	179.46%	179.43%	153.28%
SG&A Expenses	31,759M	29,645M	25,740M	23,672M	21,805M	19,408M	16,841M	33,010M	32,794M	32,877M	32,065M	30,334M	27,725M	25,224M	24,709M	23,098M	22,223M	19,942M	19,198M	20,324M	20,488M	20,289M	18,426M	18,162M	17,277M	16,909M	18,387M	14,870M	13,576M	13,099M	13,306M	9,988M	6,957M	5,742M	5,176M	3,920M	3,491M	3,032M	4,405M
Return on SG&A Expenses	274.38%	265.68%	198.69%	165.46%	148.01%	137.24%	136.80%	317.82%	276.00%	309.74%	274.87%	238.55%	262.36%	242.91%	179.21%	169.88%	74.57%	127.82%	106.99%	59.99%	107.74%	107.76%	92.14%	127.46%	108.58%	86.16%	96.16%	94.59%	92.80%	93.55%	61.39%	75.40%	112.53%	127.93%	182.01%	198.60%	128.62%	113.92%	49.83%
Operating Expenses	61,490M	56,529M	46,882M	41,948M	37,491M	33,123M	28,746M	66,100M	63,189M	65,365M	61,575M	57,529M	52,237M	45,940M	43,978M	39,974M	36,949M	32,979M	32,296M	42,381M	31,869M	30,700M	28,237M	27,205M	25,991M	25,919M	26,551M	21,991M	20,160M	19,196M	21,085M	16,583M	11,264M	10,121M	8,948M	7,900M	7,116M	5,452M	4,885M
Return on Operating Expenses	141.57%	139.47%	108.19%	93.09%	85.89%	80.32%	79.44%	158.72%	143.24%	155.79%	143.14%	125.78%	139.25%	133.37%	100.69%	98.16%	44.85%	77.29%	63.60%	28.77%	69.26%	71.21%	60.13%	85.09%	72.18%	56.21%	66.59%	63.96%	62.50%	63.84%	38.74%	45.41%	69.50%	72.58%	105.29%	98.54%	63.10%	63.35%	44.93%
Operating Income (EBIT)	108,828M	95,957M	66,586M	52,498M	44,456M	37,835M	32,720M	135,937M	113,090M	128,528M	109,433M	88,523M	83,383M	69,916M	52,959M	42,959M	35,058M	29,025M	26,078M	18,161M	27,759M	26,764M	21,763M	27,161M	24,098M	20,363M	22,271M	18,438M	16,472M	14,561M	9,034M	9,545M	11,910M	11,720M	11,006M	10,043M	6,710M	4,871M	3,078M
Return on Operating Income (EBIT)	80.50%	83.28%	80.52%	79.78%	78.92%	78.41%	77.75%	77.18%	80.04%	79.23%	80.54%	81.74%	87.23%	87.64%	83.61%	91.34%	47.27%	87.82%	78.76%	67.14%	79.52%	81.69%	78.01%	85.23%	77.85%	71.55%	79.39%	76.28%	76.49%	84.16%	90.41%	78.90%	65.73%	62.68%	85.60%	77.52%	66.92%	70.91%	71.31%
Interest Income	2,933M	2,605M	2,207M	1,531M	1,371M	1,097M	914M	2,942M	2,672M	2,647M	3,157M	2,994M	2,094M	2,131M	2,680M	2,762M	2,214M	1,387M	0M	0M	0M	0M	0M	900M	0M	744M	888M	1,319M	1,510M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Interest Income	3,018.57%	3,080.91%	2,106.37%	1,575.73%	1,474.30%	1,179.44%	982.87%	3,566.01%	3,387.43%	3,847.07%	2,791.76%	2,416.87%	3,473.64%	2,875.22%	1,652.28%	1,420.71%	748.46%	1,837.71%	0.00%	0.00%	0.00%	0.00%	0.00%	2,572.22%	0.00%	1,958.20%	1,991.10%	1,066.34%	834.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Interest Expense	2,429M	2,339M	2,317M	1,710M	1,292M	1,034M	861M	2,501M	2,992M	2,385M	2,935M	1,968M	2,063M	2,346M	2,591M	2,686M	2,733M	2,222M	1,243M	781M	597M	429M	380M	295M	151M	38M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Interest Expense	3,649.83%	3,417.41%	2,366.28%	3,088.88%	4,854.82%	3,883.86%	3,236.55%	4,194.80%	3,025.13%	4,269.69%	3,002.93%	3,676.88%	3,525.84%	2,611.72%	1,709.03%	1,460.91%	606.33%	1,147.12%	1,652.37%	1,561.20%	3,697.49%	5,096.27%	4,467.89%	7,847.46%	12,423.84%	38,339.47%	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	503M	265M	-111M	-179M	79M	63M	53M	441M	-320M	262M	222M	1,026M	31M	-215M	89M	76M	-519M	-835M	-1,243M	-781M	-597M	-429M	-380M	605M	-151M	706M	888M	1,319M	1,510M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Interest Income	28,540.27%	58,352.28%	38,524.91%	24,950.18%	18,389.21%	14,711.37%	12,259.47%	23,789.57%	-28,285.00%	38,867.18%	39,700.90%	7,052.73%	234,638.71%	-28,498.14%	49,753.93%	51,631.58%	-3,192.87%	-3,052.57%	-1,652.37%	-1,561.20%	-3,697.49%	-5,096.27%	-4,467.89%	3,826.45%	-12,423.84%	2,063.60%	1,991.10%	1,066.34%	834.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Unusual Items	1,416M	583M	269M	144M	-374M	-545M	-663M	7,837M	2,638M	4,639M	1,424M	-1,814M	-364M	-971M	-166M	-805M	-897M	-41M	1,682M	435M	536M	141M	-124M	-1,515M	-764M	-164M	-2,431M	-2,982M	-3,300M	-2,067M	-3,162M	-1,509M	397M	195M	-3,269M	-1,848M	-407M	-443M	-301M
Return on Unusual Items	1,465.14%	-4,379.53%	-11,624.20%	-7,269.01%	-6,097.74%	-4,702.64%	-4,029.58%	1,338.68%	3,431.08%	2,195.13%	6,189.33%	-3,989.03%	-19,982.97%	-6,310.09%	-26,675.30%	-4,874.53%	-1,847.38%	-62,168.29%	1,221.11%	2,802.99%	4,118.28%	15,505.67%	-13,691.94%	-1,528.05%	-2,455.50%	-8,883.54%	-727.31%	-471.66%	-381.79%	-592.84%	-258.32%	-499.07%	1,972.04%	3,767.18%	-288.19%	-421.27%	-1,103.19%	-779.68%	-729.24%
EBT Excluding Unusual Items	105,492M	94,526M	66,159M	52,389M	45,125M	38,862M	33,993M	119,822M	108,134M	118,988M	106,363M	91,125M	84,080M	72,073M	53,202M	44,493M	37,371M	29,942M	23,957M	18,072M	27,284M	26,911M	22,391M	29,586M	25,777M	19,985M	26,245M	23,083M	21,562M	18,695M	15,358M	12,563M	11,116M	11,330M	17,544M	13,739M	7,524M	5,757M	3,680M
Return on EBT Excluding Unusual Items	82.62%	83.88%	80.60%	79.31%	76.11%	73.44%	70.86%	87.56%	83.70%	85.58%	82.86%	79.41%	86.51%	85.01%	83.23%	88.19%	44.34%	85.13%	85.73%	67.47%	80.90%	81.24%	75.83%	78.25%	72.78%	72.90%	67.37%	60.93%	58.43%	65.55%	53.18%	59.95%	70.43%	64.84%	53.70%	56.66%	59.68%	60.00%	59.65%
Pre-Tax Income	106,908M	95,109M	66,428M	52,533M	44,750M	38,317M	33,330M	127,659M	110,772M	123,627M	107,787M	89,311M	83,716M	71,102M	53,036M	43,688M	36,474M	29,901M	25,639M	18,507M	27,820M	27,052M	22,267M	28,071M	25,013M	19,821M	23,814M	20,101M	18,262M	16,628M	12,196M	11,054M	11,513M	11,525M	14,275M	11,891M	7,117M	5,314M	3,379M
Return on Pre-Tax Income	81.72%	83.64%	80.23%	79.14%	77.44%	75.57%	73.79%	82.18%	81.71%	82.37%	81.77%	81.02%	86.89%	86.17%	83.49%	89.82%	45.43%	85.24%	80.11%	65.88%	79.35%	80.82%	76.25%	82.47%	75.00%	73.50%	74.25%	69.97%	68.99%	73.69%	66.97%	68.13%	68.00%	63.74%	66.00%	65.47%	63.09%	65.00%	64.96%
Income Tax Expense	19,465M	15,841M	12,182M	9,952M	8,931M	7,921M	7,089M	22,747M	20,260M	21,795M	19,651M	16,950M	10,978M	9,831M	8,755M	4,448M	19,903M	4,412M	5,100M	6,314M	5,746M	5,189M	5,289M	4,921M	6,253M	5,252M	6,133M	6,036M	5,663M	4,374M	4,028M	3,523M	3,684M	3,804M	4,854M	4,106M	2,627M	1,860M	1,184M
Return on Income Tax Expense	447.55%	525.69%	508.01%	458.01%	409.57%	371.75%	340.65%	461.21%	446.75%	467.23%	448.51%	426.91%	662.58%	623.24%	505.78%	882.19%	83.26%	577.72%	402.73%	193.11%	384.16%	421.33%	321.01%	470.43%	300.02%	277.40%	288.29%	233.02%	222.48%	280.16%	202.78%	213.77%	212.51%	193.11%	194.09%	189.60%	170.92%	185.70%	185.39%
Depreciation and Amortization	23,434M	19,289M	14,659M	11,150M	8,844M	7,317M	6,239M	39,831M	25,749M	34,153M	22,287M	13,861M	14,460M	11,686M	12,796M	11,682M	10,261M	8,778M	6,622M	5,957M	5,212M	3,755M	2,967M	2,766M	2,673M	2,562M	2,056M	1,440M	903M	855M	1,186M	1,393M	1,084M	1,536M	1,250M	926M	1,024M	557M	480M
Return on Depreciation and Amortization	405.22%	448.60%	368.70%	420.44%	540.45%	586.88%	592.75%	263.39%	351.52%	298.16%	395.46%	522.05%	503.03%	524.31%	346.05%	335.90%	161.49%	290.37%	310.16%	204.68%	423.52%	582.24%	572.23%	836.95%	701.83%	568.66%	859.97%	976.74%	1,395.24%	1,433.22%	688.70%	540.63%	722.23%	478.26%	753.68%	840.71%	438.48%	620.11%	457.29%
EBITDA	132,771M	116,737M	83,404M	65,393M	54,719M	46,288M	39,908M	169,991M	139,513M	160,165M	133,009M	105,140M	100,239M	85,134M	68,423M	58,056M	49,468M	40,901M	33,504M	25,245M	33,629M	31,236M	25,614M	31,132M	27,837M	22,421M	25,976M	19,878M	17,375M	15,416M	10,220M	10,938M	12,994M	13,256M	12,256M	11,053M	7,734M	5,428M	3,558M
Return on EBITDA	66.22%	68.64%	63.26%	63.81%	65.05%	65.79%	65.85%	61.72%	64.88%	63.58%	66.26%	68.82%	72.56%	71.97%	64.72%	67.59%	33.50%	62.32%	61.30%	48.30%	65.64%	69.99%	66.28%	74.36%	67.39%	64.98%	68.07%	70.76%	72.51%	79.49%	79.92%	68.85%	60.25%	55.42%	76.87%	70.43%	58.06%	63.63%	61.69%
NOPAT	89,024M	79,954M	54,413M	42,583M	35,629M	30,073M	25,835M	111,715M	92,406M	105,869M	89,482M	71,723M	72,449M	60,249M	44,217M	38,585M	15,928M	24,742M	20,891M	11,965M	22,026M	21,630M	16,594M	22,400M	18,074M	14,967M	16,535M	12,901M	11,364M	10,731M	6,050M	6,503M	8,099M	7,852M	7,264M	6,575M	4,233M	3,166M	1,999M
Return on NOPAT	98.52%	99.53%	100.49%	100.92%	102.09%	103.88%	105.67%	93.91%	97.95%	96.19%	98.50%	100.89%	100.40%	101.70%	100.15%	101.70%	104.04%	103.02%	98.32%	101.91%	100.22%	101.08%	102.32%	103.35%	103.80%	97.34%	106.93%	109.02%	110.87%	114.20%	135.00%	115.81%	96.67%	93.56%	129.70%	118.40%	106.07%	109.09%	109.78%
Owner's Earnings	65,165M	62,228M	44,993M	36,433M	31,084M	26,649M	23,143M	75,721M	66,778M	71,434M	65,946M	58,115M	63,312M	52,335M	41,636M	36,997M	15,200M	26,138M	18,818M	12,206M	21,801M	21,361M	17,640M	23,561M	19,456M	14,012M	16,555M	13,241M	11,924M	12,297M	8,245M	8,079M	8,143M	7,779M	9,290M	8,212M	4,858M	3,512M	2,181M
Return on Owner's Earnings	133.57%	126.54%	116.08%	110.59%	108.89%	106.41%	104.93%	138.55%	135.54%	142.55%	133.65%	124.51%	114.89%	117.07%	106.35%	106.06%	109.02%	97.52%	109.15%	99.89%	101.25%	102.35%	96.25%	98.26%	96.42%	103.98%	106.80%	106.22%	105.66%	99.65%	99.07%	93.22%	96.14%	94.43%	101.41%	94.80%	92.42%	98.35%	100.64%

Balance Sheet Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	87,443M	79,268M	54,246M	42,581M	35,820M	30,381M	26,229M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
Cash & Cash Equivalents	27,754M	22,283M	16,247M	13,139M	11,591M	10,574M	9,478M	30,242M	18,315M	34,704M	13,931M	14,224M	13,576M	11,356M	11,946M	7,663M	6,510M	5,595M	8,669M	3,804M	6,938M	9,610M	5,505M	6,076M	10,339M	6,111M	6,714M	4,851M	14,304M	6,438M	3,016M	3,922M	4,846M	4,975M	3,839M	3,706M	2,601M
Return on Cash & Cash Equivalents	342.15%	395.87%	343.79%	331.39%	307.01%	280.55%	255.31%	336.72%	481.22%	208.51%	522.13%	430.76%	326.17%	345.54%	138.72%	332.62%	315.50%	217.93%	254.63%	574.74%	244.71%	240.89%	340.78%	239.78%	171.01%	230.16%	187.65%	252.61%	57.10%	116.98%	259.58%	187.30%	194.41%	156.48%	116.96%	93.20%	84.39%
Short-Term Investments	66,030M	80,988M	100,423M	89,645M	72,970M	65,781M	55,858M	64,323M	57,216M	76,552M	90,818M	116,032M	122,951M	122,463M	121,822M	125,318M	106,730M	90,931M	77,040M	73,218M	56,102M	43,162M	31,283M	25,371M	13,323M	17,300M	27,447M	32,900M	46,288M	42,610M	35,636M	27,678M	18,952M	12,261M	0M	0M	0M
Return on Short-Term Investments	135.63%	107.96%	66.10%	54.46%	59.71%	52.61%	47.61%	158.31%	154.04%	94.53%	80.09%	52.81%	36.02%	32.04%	13.60%	20.34%	19.24%	13.41%	28.65%	29.86%	30.26%	53.64%	59.97%	57.42%	132.71%	81.30%	45.90%	37.25%	17.65%	17.67%	21.97%	26.54%	49.71%	63.49%	0.00%	0.00%	0.00%
Cash & Short-Term Investments	93,784M	103,271M	116,669M	102,784M	84,562M	76,355M	65,335M	94,565M	75,531M	111,256M	104,749M	130,256M	136,527M	133,819M	133,768M	132,981M	113,240M	96,526M	85,709M	77,022M	63,040M	52,772M	36,788M	31,447M	23,662M	23,411M	34,161M	37,751M	60,592M	49,048M	38,652M	31,600M	23,798M	17,236M	3,839M	3,706M	2,601M
Return on Cash & Short-Term Investments	96.47%	81.18%	51.73%	43.66%	46.20%	41.15%	46.93%	107.68%	116.69%	65.04%	69.44%	47.04%	32.43%	29.32%	12.39%	19.17%	18.14%	12.63%	25.75%	28.39%	26.93%	43.87%	50.99%	46.33%	74.72%	60.08%	36.88%	32.46%	13.48%	15.35%	20.26%	23.25%	39.59%	45.17%	116.96%	93.20%	84.39%
Net Receivables	58,506M	51,564M	38,655M	31,483M	26,535M	22,311M	18,878M	69,905M	56,924M	48,688M	44,261M	38,043M	32,011M	29,524M	26,481M	22,431M	18,277M	17,908M	19,544M	17,486M	15,780M	14,987M	13,014M	11,192M	13,589M	11,338M	9,316M	7,180M	5,890M	5,196M	5,129M	3,671M	3,250M	2,245M	1,460M	980M	639M
Return on Net Receivables	149.71%	154.90%	133.43%	126.83%	128.31%	134.93%	167.11%	145.67%	154.83%	148.62%	164.34%	161.06%	138.33%	132.91%	62.58%	113.63%	112.38%	68.09%	112.95%	125.03%	107.59%	154.47%	144.15%	130.17%	130.11%	124.05%	135.24%	170.67%	138.68%	144.94%	152.64%	200.11%	289.88%	346.77%	307.53%	352.45%	343.51%
Inventory	1,561M	2,212M	2,211M	2,142M	1,859M	1,579M	1,316M	938M	1,246M	2,500M	3,742M	2,636M	1,895M	2,063M	2,662M	2,181M	2,251M	2,902M	2,660M	1,938M	1,137M	1,372M	740M	717M	985M	1,127M	1,478M	491M	421M	640M	673M	83M	0M	0M	0M	0M	0M
Return on Inventory	6,941.42%	5,018.49%	3,203.49%	2,506.24%	2,302.81%	2,467.30%	2,056.09%	10,856.29%	7,073.52%	2,894.44%	1,943.83%	2,324.39%	2,336.73%	1,902.08%	622.50%	1,168.68%	912.44%	420.16%	829.85%	1,128.12%	1,493.23%	1,687.32%	2,535.14%	2,031.94%	1,795.03%	1,248.00%	852.44%	2,495.72%	1,940.14%	1,176.72%	1,163.30%	8,850.60%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Current Assets	24,523M	20,794M	14,335M	11,405M	9,774M	8,581M	8,030M	25,723M	26,033M	21,813M	16,932M	13,471M	11,482M	10,146M	6,751M	5,103M	5,892M	5,461M	6,333M	5,020M	5,127M	5,787M	5,134M	5,924M	5,006M	4,292M	4,055M	3,315M	3,663M	4,089M	4,122M	3,856M	3,260M	2,221M	10,590M	5,687M	4,599M
Return on Other Current Assets	355.39%	390.12%	381.65%	370.34%	357.90%	332.61%	303.52%	395.88%	338.55%	331.73%	429.59%	454.84%	385.66%	386.75%	245.46%	499.49%	348.59%	223.27%	348.56%	435.52%	331.15%	400.03%	365.41%	245.93%	353.20%	327.70%	310.70%	369.65%	222.99%	184.18%	189.93%	190.51%	288.99%	350.52%	42.40%	60.74%	47.73%
Total Current Assets	178,374M	177,842M	171,870M	147,814M	122,729M	108,826M	93,559M	191,131M	159,734M	184,257M	169,684M	184,406M	181,915M	175,552M	169,662M	162,696M	139,660M	122,797M	114,246M	101,466M	85,084M	74,918M	55,676M	49,280M	43,242M	40,168M	49,010M	48,737M	70,566M	58,973M	48,576M	39,210M	30,308M	21,702M	15,889M	10,373M	7,839M
Return on Total Current Assets	49.24%	44.76%	31.07%	27.49%	28.86%	26.46%	27.27%	53.28%	55.18%	39.27%	42.87%	33.23%	24.34%	22.35%	9.77%	15.67%	14.71%	9.93%	19.32%	21.55%	19.95%	30.90%	33.69%	29.56%	40.89%	35.02%	25.71%	25.14%	11.57%	12.77%	16.12%	18.74%	31.08%	35.87%	28.26%	33.30%	28.00%
Property, Plant & Equipment	164,776M	130,535M	83,423M	59,226M	45,860M	37,147M	31,216M	229,789M	154,552M	109,987M	87,546M	70,803M	52,904M	43,856M	36,146M	30,289M	18,356M	14,731M	13,011M	9,991M	8,269M	8,162M	7,630M	7,535M	6,242M	4,350M	3,044M	2,346M	2,326M	2,223M	2,268M	2,309M	1,903M	1,611M	1,505M	1,465M	1,326M
Return on Property, Plant & Equipment	55.71%	67.35%	75.18%	114.14%	158.59%	201.89%	224.18%	44.32%	57.03%	65.79%	83.09%	86.54%	83.70%	89.47%	45.84%	84.15%	111.89%	82.77%	169.66%	218.83%	205.32%	283.63%	245.87%	193.35%	283.26%	323.33%	413.90%	522.34%	351.16%	338.78%	345.19%	318.15%	495.06%	483.24%	298.34%	235.77%	165.54%
Goodwill	102,205M	84,770M	59,790M	45,044M	36,064M	28,852M	24,043M	119,509M	119,220M	67,886M	67,524M	49,711M	43,351M	42,026M	35,683M	35,122M	17,872M	16,939M	20,127M	14,655M	13,452M	12,581M	12,394M	12,503M	12,108M	4,760M	3,866M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Goodwill	88.58%	99.34%	92.62%	104.48%	130.13%	104.10%	86.75%	85.21%	73.93%	106.59%	107.72%	123.25%	102.15%	93.37%	46.44%	72.57%	114.92%	71.98%	109.67%	149.18%	126.21%	184.01%	151.36%	116.52%	146.03%	295.48%	325.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Intangible Assets	19,856M	15,733M	11,535M	8,944M	7,023M	6,202M	5,168M	22,604M	27,597M	9,366M	11,298M	7,800M	7,038M	7,750M	8,053M	10,106M	3,733M	4,835M	6,981M	3,083M	3,170M	744M	1,158M	1,759M	1,973M	878M	539M	3,808M	3,684M	3,512M	1,669M	1,912M	0M	0M	0M	0M	0M
Return on Intangible Assets	514.15%	594.36%	511.55%	669.34%	866.20%	757.41%	631.17%	450.50%	319.37%	772.59%	643.81%	785.53%	629.17%	506.32%	205.77%	252.22%	550.20%	252.18%	316.20%	709.15%	535.58%	3,111.56%	1,620.03%	828.25%	896.15%	1,601.94%	2,337.48%	321.80%	221.72%	214.44%	469.08%	384.21%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Investments	13,295M	10,552M	7,669M	8,988M	8,211M	6,569M	5,474M	15,405M	14,600M	9,879M	6,891M	5,984M	2,965M	2,649M	1,862M	6,023M	10,431M	12,053M	14,597M	10,844M	9,776M	10,865M	7,754M	4,933M	6,588M	10,117M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Long-Term Investments	665.73%	815.33%	856.15%	626.81%	517.34%	413.88%	344.90%	661.03%	603.67%	732.47%	1,055.55%	1,023.91%	1,493.46%	1,481.31%	889.96%	423.19%	196.90%	101.16%	151.22%	201.61%	173.67%	213.07%	241.94%	295.34%	268.38%	139.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Assets	0M	0M	0M	0M	261M	593M	494M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	279M	949M	1,389M	2,611M	3,621M	3,808M	2,161M	0M	0M	0M	0M	0M	0M	0M
Return on Tax Assets	0.00%	0.00%	0.00%	0.00%	429.01%	379.26%	316.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5,221.86%	1,863.12%	1,012.60%	482.54%	338.41%	214.50%	348.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Other Non-Current Assets	35,875M	28,920M	18,939M	13,419M	10,905M	11,591M	11,116M	40,565M	36,460M	30,601M	21,897M	15,075M	13,138M	14,723M	7,442M	6,076M	3,416M	3,117M	3,422M	2,392M	1,520M	1,434M	1,501M	1,599M	1,691M	1,509M	10,527M	12,303M	13,984M	14,863M	15,133M	15,399M	19,939M	15,312M	4,963M	2,549M	928M
Return on Other Non-Current Assets	243.08%	293.57%	331.49%	533.10%	612.74%	502.51%	437.45%	251.03%	241.73%	236.47%	332.18%	406.44%	337.05%	266.52%	222.67%	419.50%	601.26%	391.18%	645.06%	914.01%	1,116.97%	1,614.37%	1,249.83%	911.13%	1,045.59%	932.07%	119.68%	99.60%	58.41%	50.67%	51.73%	47.70%	47.25%	50.84%	90.47%	135.50%	236.53%
Other Assets	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	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%	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 Non-Current Assets	336,007M	270,510M	181,356M	135,621M	108,325M	90,953M	77,511M	427,872M	352,429M	227,719M	195,156M	149,373M	119,396M	111,004M	89,186M	87,616M	53,808M	51,675M	58,138M	40,965M	36,187M	33,786M	30,437M	28,608M	29,551M	23,003M	20,587M	22,078M	23,802M	22,759M	19,070M	19,620M	21,842M	16,923M	6,468M	4,014M	2,254M
Return on Total Non-Current Assets	26.86%	31.77%	31.72%	36.50%	42.11%	41.75%	46.19%	23.80%	25.01%	31.78%	37.27%	41.02%	37.09%	35.35%	18.58%	29.09%	38.17%	23.60%	37.97%	53.37%	46.92%	68.52%	61.64%	50.93%	59.83%	61.14%	61.20%	55.50%	34.32%	33.09%	41.05%	37.44%	43.13%	46.00%	69.42%	86.05%	97.38%
Total Assets	514,381M	448,352M	353,226M	283,435M	231,054M	199,779M	171,069M	619,003M	512,163M	411,976M	364,840M	333,779M	301,311M	286,556M	258,848M	250,312M	193,468M	174,472M	172,384M	142,431M	121,271M	108,704M	86,113M	77,888M	72,793M	63,171M	69,597M	70,815M	94,368M	81,732M	67,646M	58,830M	52,150M	38,625M	22,357M	14,387M	10,093M
Return on Total Assets	17.07%	17.90%	14.51%	14.37%	16.03%	15.20%	16.13%	16.45%	17.21%	17.56%	19.94%	18.36%	14.70%	13.69%	6.40%	10.18%	10.62%	6.99%	12.81%	15.35%	14.00%	21.30%	21.79%	18.71%	24.29%	22.26%	18.10%	17.30%	8.66%	9.21%	11.57%	12.49%	18.07%	20.16%	20.08%	24.01%	21.75%
Accounts Payable	22,605M	20,396M	14,680M	11,601M	9,578M	7,973M	6,786M	27,724M	21,996M	18,095M	19,000M	15,163M	12,530M	9,382M	8,617M	7,390M	6,898M	6,591M	7,432M	4,828M	4,175M	4,197M	4,025M	3,324M	4,034M	3,247M	2,909M	2,086M	1,717M	1,573M	1,208M	1,188M	1,083M	874M	759M	721M	808M
Return on Accounts Payable	389.30%	390.96%	356.14%	363.63%	383.17%	418.87%	452.49%	367.31%	400.69%	399.89%	382.83%	404.08%	353.40%	418.25%	192.31%	344.91%	297.75%	184.99%	297.01%	452.84%	406.66%	551.58%	466.09%	438.30%	438.30%	433.17%	433.10%	587.44%	475.71%	478.77%	648.10%	618.35%	869.90%	890.73%	591.57%	479.06%	271.66%
Short-Term Debt	5,729M	5,602M	6,430M	5,201M	4,051M	3,240M	2,700M	2,999M	8,942M	5,247M	2,749M	8,072M	3,749M	5,516M	3,998M	10,121M	12,904M	7,484M	2,000M	2,999M	1,231M	0M	1,000M	2,000M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Debt	1,920.09%	1,833.06%	1,188.33%	1,017.21%	893.13%	714.50%	595.42%	3,395.53%	985.64%	1,379.09%	2,645.98%	759.06%	1,181.14%	711.39%	414.48%	251.84%	159.17%	162.92%	1,103.70%	729.01%	1,379.20%	0.00%	1,876.00%	728.45%	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 Payables	3,056M	3,082M	2,662M	1,998M	1,751M	1,482M	1,235M	0M	5,017M	4,152M	4,067M	2,174M	2,130M	5,665M	2,121M	718M	580M	606M	782M	592M	789M	580M	1,074M	725M	3,248M	0M	0M	0M	0M	0M	2,022M	0M	0M	0M	0M	0M	0M
Return on Tax Payables	1,166.52%	1,621.28%	1,875.05%	2,228.11%	1,886.11%	1,524.38%	1,270.31%	0.00%	1,756.75%	1,742.80%	1,788.49%	2,818.35%	2,078.92%	692.67%	781.28%	3,550.00%	3,541.21%	2,012.05%	2,822.76%	3,693.07%	2,151.84%	3,991.38%	1,746.74%	2,009.52%	544.37%	0.00%	0.00%	0.00%	0.00%	0.00%	387.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Deferred Revenue	57,679M	52,020M	40,916M	34,037M	28,526M	24,083M	20,230M	64,555M	57,582M	50,901M	45,538M	41,525M	36,000M	32,676M	28,905M	24,013M	27,468M	23,223M	23,150M	20,639M	18,653M	15,722M	13,652M	13,003M	13,397M	10,779M	9,138M	7,502M	6,514M	7,225M	5,920M	4,395M	4,816M	0M	0M	0M	0M
Return on Deferred Revenue	150.99%	152.05%	124.16%	115.58%	119.17%	123.03%	109.05%	157.74%	153.06%	142.16%	159.73%	147.55%	123.00%	120.09%	57.33%	106.15%	74.77%	52.50%	95.35%	105.93%	91.02%	147.25%	137.42%	112.04%	131.98%	130.49%	137.87%	163.34%	125.39%	104.24%	132.25%	167.14%	195.62%	0.00%	0.00%	0.00%	0.00%
Other Current Liabilities	32,077M	28,337M	21,533M	17,366M	14,584M	12,554M	11,152M	38,729M	31,749M	25,754M	23,728M	21,723M	17,901M	16,181M	14,847M	13,503M	11,213M	11,651M	11,703M	7,714M	7,026M	7,067M	6,214M	6,298M	6,593M	3,622M	8,457M	5,627M	5,399M	3,760M	4,471M	2,929M	3,299M	7,928M	4,971M	2,889M	1,617M
Return on Other Current Liabilities	273.84%	282.02%	238.35%	235.30%	243.41%	234.54%	219.76%	262.93%	277.60%	280.97%	306.55%	282.06%	247.37%	242.51%	111.61%	188.77%	183.17%	104.65%	188.62%	283.42%	241.65%	327.58%	301.90%	231.33%	268.18%	388.32%	148.98%	217.77%	151.29%	200.29%	175.11%	250.80%	285.57%	98.20%	90.32%	119.56%	135.75%
Total Current Liabilities	123,551M	110,878M	86,971M	70,924M	59,656M	50,438M	43,042M	141,218M	125,286M	104,149M	95,082M	88,657M	72,310M	69,420M	58,488M	55,745M	59,357M	49,647M	45,625M	37,417M	32,688M	28,774M	26,147M	27,034M	29,886M	23,754M	22,442M	16,877M	14,969M	13,974M	12,744M	9,254M	9,755M	8,802M	5,730M	3,610M	2,425M
Return on Total Current Liabilities	70.65%	71.51%	58.40%	56.52%	57.39%	58.79%	63.98%	72.11%	70.35%	69.48%	76.50%	69.11%	61.24%	56.53%	28.33%	45.72%	34.60%	24.56%	48.38%	58.43%	51.94%	80.45%	71.75%	53.89%	59.16%	59.21%	56.14%	72.61%	54.57%	53.89%	61.43%	79.38%	96.58%	88.45%	78.36%	95.68%	90.52%
Long-Term Debt	41,610M	44,387M	53,705M	41,382M	31,471M	25,177M	20,981M	40,152M	42,688M	41,990M	47,032M	50,074M	59,578M	66,662M	72,242M	76,073M	40,557M	27,808M	20,645M	12,601M	10,713M	11,921M	4,939M	3,746M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Long-Term Debt	210.80%	181.89%	114.97%	121.78%	129.77%	103.82%	86.51%	253.62%	206.47%	172.33%	154.66%	122.36%	74.32%	58.86%	22.94%	33.51%	50.64%	43.85%	106.92%	173.50%	158.48%	194.20%	379.83%	388.92%	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%
Capital Lease Obligations	23,486M	18,315M	11,956M	7,971M	5,978M	4,782M	3,985M	17,437M	40,293M	12,728M	11,489M	9,629M	7,671M	6,188M	5,568M	7,797M	761M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Capital Lease Obligations	457.09%	528.14%	717.55%	478.37%	358.78%	287.02%	239.18%	584.00%	218.74%	568.52%	633.11%	636.32%	577.25%	634.13%	297.61%	326.91%	2,698.95%	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%
Deferred Tax Liabilities	1,962M	1,263M	1,450M	1,572M	1,191M	1,054M	959M	2,835M	2,618M	433M	230M	198M	204M	233M	541M	5,734M	1,476M	1,295M	2,728M	1,709M	1,893M	1,456M	229M	0M	0M	0M	0M	0M	0M	1,731M	398M	409M	1,027M	1,385M	0M	0M	0M
Return on Deferred Tax Liabilities	7,890.01%	17,248.04%	12,968.69%	9,013.58%	7,169.79%	5,903.76%	4,969.12%	3,591.96%	3,366.54%	16,711.55%	31,625.22%	30,944.95%	21,706.37%	16,841.20%	3,063.03%	444.52%	1,391.53%	941.54%	809.16%	1,279.29%	896.88%	1,589.97%	8,192.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	435.07%	1,967.09%	1,796.09%	917.33%	562.09%	0.00%	0.00%	0.00%
Other Non-Current Liabilities	56,569M	50,384M	39,533M	29,783M	23,934M	19,776M	16,501M	71,172M	54,995M	43,541M	41,595M	40,617M	40,064M	37,193M	35,476M	17,034M	13,640M	13,544M	11,594M	10,000M	8,208M	8,072M	7,445M	6,269M	4,721M	6,453M	7,051M	5,823M	4,574M	1,115M	2,324M	1,878M	0M	0M	0M	0M	635M
Return on Other Non-Current Liabilities	156.51%	159.05%	135.82%	156.73%	180.32%	215.96%	191.49%	143.08%	160.26%	166.19%	174.87%	150.85%	110.53%	105.50%	46.71%	149.64%	150.58%	90.03%	190.39%	218.63%	206.85%	286.79%	251.98%	232.40%	374.52%	217.96%	178.68%	210.44%	178.57%	675.43%	336.88%	391.16%	0.00%	0.00%	0.00%	0.00%	345.67%
Total Non-Current Liabilities	118,103M	112,132M	107,278M	81,709M	63,635M	51,638M	43,134M	134,306M	118,400M	101,604M	103,216M	103,134M	110,697M	114,806M	117,642M	106,856M	62,114M	44,742M	36,975M	26,070M	22,220M	22,847M	13,791M	11,296M	6,621M	8,320M	7,051M	5,823M	4,574M	2,846M	2,722M	2,287M	1,027M	1,385M	0M	0M	635M
Return on Total Non-Current Liabilities	73.83%	70.27%	49.65%	56.34%	86.24%	119.49%	160.41%	75.82%	74.44%	71.22%	70.47%	59.41%	40.00%	34.18%	14.09%	23.85%	33.07%	27.25%	59.70%	83.86%	76.41%	101.33%	136.03%	128.97%	267.04%	169.05%	178.68%	210.44%	178.57%	264.62%	287.62%	321.21%	917.33%	562.09%	0.00%	0.00%	345.67%
Total Liabilities	241,654M	223,010M	194,249M	152,633M	123,292M	102,076M	86,176M	275,524M	243,686M	205,753M	198,298M	191,791M	183,007M	184,226M	176,130M	162,601M	121,471M	94,389M	82,600M	63,487M	54,908M	51,621M	39,938M	38,330M	36,507M	32,074M	29,493M	22,700M	19,543M	16,820M	15,466M	11,541M	10,782M	10,187M	5,730M	3,610M	3,060M
Return on Total Liabilities	36.10%	35.38%	26.44%	27.62%	31.71%	35.56%	43.29%	36.96%	36.17%	35.17%	36.68%	31.95%	24.20%	21.30%	9.41%	15.68%	16.91%	12.92%	26.72%	34.44%	30.92%	44.85%	46.97%	38.01%	48.43%	43.85%	42.72%	53.98%	41.80%	44.77%	50.62%	63.65%	87.38%	76.42%	78.36%	95.68%	71.73%
Preferred Stock	0M	0M	0M	0M	0M	0M	98M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	980M	980M	980M	0M
Return on Preferred Stock	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	53.50%	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%	794.39%	458.16%	352.45%	0.00%
Common Stock	101,245M	94,757M	84,157M	78,328M	74,129M	67,790M	57,727M	109,095M	100,923M	93,718M	86,939M	83,111M	80,552M	78,520M	71,223M	69,315M	68,178M	68,465M	68,366M	67,306M	65,797M	63,415M	62,856M	62,382M	62,849M	60,557M	59,005M	60,413M	56,396M	35,344M	31,647M	28,390M	23,195M	13,844M	0M	0M	0M
Return on Common Stock	85.96%	83.05%	61.04%	50.35%	44.06%	39.51%	36.16%	93.34%	87.33%	77.21%	83.67%	73.72%	54.97%	49.97%	23.27%	36.77%	30.13%	17.81%	32.29%	32.48%	25.80%	36.51%	29.85%	23.35%	28.13%	23.23%	21.35%	20.28%	14.48%	21.31%	24.74%	25.88%	40.62%	56.23%	0.00%	0.00%	0.00%
Retained Earnings	176,574M	134,212M	76,351M	52,963M	33,800M	29,832M	26,483M	237,731M	173,144M	118,848M	84,281M	57,055M	34,566M	24,150M	13,682M	17,769M	2,282M	9,096M	17,710M	9,895M	566M	-6,332M	-16,681M	-22,824M	-27,703M	-31,114M	-20,130M	-13,724M	18,429M	25,676M	20,533M	18,899M	18,173M	13,614M	7,622M	5,288M	3,984M
Return on Retained Earnings	51.54%	69.66%	180.35%	327.81%	228.46%	185.23%	163.97%	42.83%	50.90%	60.89%	86.30%	107.39%	128.11%	162.48%	121.12%	143.45%	900.04%	134.05%	124.64%	220.95%	2,999.65%	-365.60%	-112.46%	-63.83%	-63.82%	-45.20%	-62.59%	-89.29%	44.32%	29.33%	38.13%	38.87%	51.84%	57.18%	58.91%	65.32%	55.10%
Accumulated OCI	-5,093M	-3,627M	-1,531M	-270M	-385M	-835M	-969M	-3,347M	-5,590M	-6,343M	-4,678M	1,822M	3,186M	-340M	-2,187M	627M	1,537M	2,522M	3,708M	1,743M	1,422M	1,863M	-8,629M	969M	1,140M	1,654M	1,229M	1,426M	-4,163M	-3,855M	-3,623M	-2,966M	-2,411M	-1,905M	-1,547M	-1,312M	-1,020M
Return on Accumulated OCI	-1,919.99%	-790.40%	-945.95%	-312.65%	1.14%	1.07%	-51.38%	-3,042.49%	-1,576.67%	-1,140.80%	-1,554.90%	3,362.84%	1,389.86%	-11,541.18%	-757.70%	4,065.23%	1,336.30%	483.47%	595.31%	1,254.33%	1,193.95%	1,242.62%	-217.41%	1,503.51%	1,550.96%	850.36%	1,025.14%	859.33%	-196.20%	-195.36%	-216.09%	-247.67%	-390.75%	-408.66%	-290.24%	-263.26%	-215.20%
Minority Interest	0M	0M	0M	0M	0M	0M	4M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	125M
Return on Minority Interest	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	58.53%	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%	1,756.00%
Total Shareholders’ Equity	272,726M	225,342M	158,977M	130,802M	107,762M	97,547M	84,760M	343,479M	268,477M	206,223M	166,542M	141,988M	118,304M	102,330M	82,718M	87,711M	71,997M	80,083M	89,784M	78,944M	66,363M	57,083M	46,175M	39,558M	36,286M	31,097M	40,104M	48,115M	74,825M	61,020M	52,180M	47,289M	41,368M	28,438M	16,627M	10,777M	6,908M
Return on Total Shareholders’ Equity	32.52%	36.88%	33.78%	31.43%	33.71%	30.14%	29.82%	29.65%	32.83%	35.09%	43.68%	43.15%	37.43%	38.35%	20.03%	29.06%	28.53%	15.23%	24.59%	27.69%	25.58%	40.55%	40.63%	36.83%	48.73%	45.23%	31.42%	25.47%	10.92%	12.34%	15.00%	15.53%	22.77%	27.38%	27.00%	32.05%	31.77%
Total Equity	272,726M	225,342M	158,977M	130,802M	107,762M	97,547M	84,764M	343,479M	268,477M	206,223M	166,542M	141,988M	118,304M	102,330M	82,718M	87,711M	71,997M	80,083M	89,784M	78,944M	66,363M	57,083M	46,175M	39,558M	36,286M	31,097M	40,104M	48,115M	74,825M	61,020M	52,180M	47,289M	41,368M	28,438M	16,627M	10,777M	7,033M
Return on Total Equity	32.52%	36.88%	33.78%	31.43%	33.71%	30.14%	29.80%	29.65%	32.83%	35.09%	43.68%	43.15%	37.43%	38.35%	20.03%	29.06%	28.53%	15.23%	24.59%	27.69%	25.58%	40.55%	40.63%	36.83%	48.73%	45.23%	31.42%	25.47%	10.92%	12.34%	15.00%	15.53%	22.77%	27.38%	27.00%	32.05%	31.21%
Total Liabilities & Equity	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	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%	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	79,325M	91,540M	108,091M	98,633M	81,181M	72,349M	61,331M	79,728M	71,816M	86,431M	97,709M	122,016M	125,916M	125,112M	123,684M	131,341M	117,161M	102,984M	91,637M	84,062M	65,878M	54,027M	39,037M	30,304M	19,911M	27,417M	27,447M	32,900M	46,288M	42,610M	35,636M	27,678M	18,952M	12,261M	0M	0M	0M
Return on Total Investments	111.39%	91.77%	57.57%	47.08%	49.42%	44.38%	40.76%	127.72%	122.72%	83.72%	74.44%	50.22%	35.17%	31.36%	13.40%	19.41%	17.53%	11.84%	24.09%	26.01%	25.77%	42.85%	48.06%	48.08%	88.80%	51.30%	45.90%	37.25%	17.65%	17.67%	21.97%	26.54%	49.71%	63.49%	0.00%	0.00%	0.00%
Net Debt	34,806M	41,062M	53,046M	39,550M	28,509M	21,506M	17,256M	30,346M	48,812M	25,261M	47,339M	53,551M	57,422M	67,010M	69,862M	83,903M	46,951M	29,697M	13,976M	11,796M	5,006M	2,311M	434M	-330M	-10,339M	-6,111M	-6,714M	-4,851M	-14,304M	-6,438M	-3,016M	-3,922M	-4,846M	-4,975M	-3,839M	-3,706M	-2,601M
Return on Net Debt	267.53%	214.13%	130.42%	201.96%	117.42%	58.99%	27.64%	335.57%	180.56%	286.45%	153.65%	114.42%	77.12%	58.56%	23.72%	30.38%	43.75%	41.06%	157.94%	185.34%	339.15%	1,001.73%	4,322.58%	-4,414.85%	-171.01%	-230.16%	-187.65%	-252.61%	-57.10%	-116.98%	-259.58%	-187.30%	-194.41%	-156.48%	-116.96%	-93.20%	-84.39%

Capital Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	87,443M	79,268M	54,246M	42,581M	35,820M	30,381M	26,229M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
Working Capital	54,823M	66,964M	84,899M	76,890M	63,073M	58,388M	50,516M	49,913M	34,448M	80,108M	74,602M	95,749M	109,605M	106,132M	111,174M	106,951M	80,303M	73,150M	68,621M	64,049M	52,396M	46,144M	29,529M	22,246M	13,356M	16,414M	26,568M	31,860M	55,597M	44,999M	35,832M	29,956M	20,553M	12,900M	10,159M	6,763M	5,414M
Return on Working Capital	183.40%	142.34%	85.34%	67.93%	70.67%	61.19%	59.06%	204.02%	255.85%	90.33%	97.50%	63.99%	40.40%	36.97%	14.91%	23.83%	25.58%	16.67%	32.17%	34.13%	32.40%	50.17%	63.53%	65.49%	132.38%	85.69%	47.42%	38.46%	14.69%	16.74%	21.85%	24.52%	45.84%	60.35%	44.20%	51.07%	40.54%
Total Capital	335,286M	288,687M	228,269M	183,490M	147,863M	129,627M	111,493M	404,067M	335,604M	266,188M	227,812M	209,763M	189,302M	180,696M	164,526M	179,277M	125,458M	115,375M	112,429M	94,544M	78,307M	69,004M	52,114M	45,304M	36,286M	31,097M	40,104M	48,115M	74,825M	61,020M	52,180M	47,289M	41,368M	28,438M	16,627M	10,777M	6,908M
Return on Total Capital	26.22%	27.96%	22.56%	22.27%	26.38%	24.28%	24.93%	25.20%	26.26%	27.18%	31.93%	29.21%	23.39%	21.72%	10.07%	14.22%	16.37%	10.57%	19.63%	23.12%	21.68%	33.55%	36.00%	32.16%	48.73%	45.23%	31.42%	25.47%	10.92%	12.34%	15.00%	15.53%	22.77%	27.38%	27.00%	32.05%	31.77%
Capital Employed	390,830M	337,474M	266,254M	212,510M	171,398M	149,341M	128,027M	477,785M	386,877M	307,827M	269,758M	245,122M	229,001M	217,136M	200,360M	194,567M	134,111M	124,825M	126,759M	105,014M	88,583M	79,930M	59,966M	50,854M	42,907M	39,417M	47,155M	53,938M	79,399M	67,758M	54,902M	49,576M	42,395M	29,823M	16,627M	10,777M	7,668M
Return on Capital Employed	22.53%	23.91%	19.37%	19.32%	22.67%	21.06%	22.08%	21.31%	22.78%	23.51%	26.96%	25.00%	19.34%	18.07%	8.27%	13.10%	15.31%	9.77%	17.41%	20.82%	19.17%	28.96%	31.28%	28.65%	41.21%	35.68%	26.72%	22.72%	10.29%	11.11%	14.26%	14.82%	22.22%	26.10%	27.00%	32.05%	28.63%
Invested Capital	307,533M	266,404M	212,023M	170,351M	136,271M	119,053M	102,016M	373,825M	317,289M	231,484M	213,881M	195,539M	175,726M	169,340M	152,580M	171,614M	118,948M	109,780M	103,760M	90,740M	71,369M	59,394M	46,609M	39,228M	25,947M	24,986M	33,390M	43,264M	60,521M	54,582M	49,164M	43,367M	36,522M	23,463M	12,788M	7,071M	4,307M
Return on Invested Capital	28.76%	30.32%	24.30%	24.15%	30.09%	27.61%	29.47%	27.24%	27.78%	31.26%	34.01%	31.33%	25.20%	23.17%	10.86%	14.85%	17.27%	11.11%	21.27%	24.09%	23.79%	38.98%	40.25%	37.14%	68.14%	56.29%	37.73%	28.32%	13.50%	13.80%	15.92%	16.94%	25.80%	33.18%	35.11%	48.85%	50.96%

Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	87,443M	79,268M	54,246M	42,581M	35,820M	30,381M	26,229M	104,912M	90,512M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
Depreciation & Amortization	23,434M	19,289M	14,659M	11,150M	8,844M	7,319M	6,227M	39,831M	25,749M	34,153M	22,287M	13,861M	14,460M	11,686M	12,796M	11,682M	10,261M	8,778M	6,622M	5,957M	5,212M	3,755M	2,967M	2,766M	2,673M	2,562M	2,056M	1,440M	903M	855M	1,186M	1,439M	1,084M	1,536M	748M	1,010M	1,024M	557M	480M
Return on Depreciation & Amortization	405.22%	448.60%	368.70%	420.44%	540.45%	586.19%	606.70%	263.39%	351.52%	298.16%	395.46%	522.05%	503.03%	524.31%	346.05%	335.90%	161.49%	290.37%	310.16%	204.68%	423.52%	582.24%	572.23%	836.95%	701.83%	568.66%	859.97%	976.74%	1,395.24%	1,433.22%	688.70%	523.35%	722.23%	478.26%	1,259.49%	770.79%	438.48%	620.11%	457.29%
Deferred Income Tax	-5,951M	-4,741M	-3,365M	-2,188M	-1,535M	-1,382M	-1,166M	-3,132M	-5,603M	-7,056M	-4,738M	-6,059M	-5,702M	-150M	11M	-6,463M	-5,143M	-829M	2,479M	224M	-331M	-19M	954M	2M	-220M	762M	935M	421M	219M	-179M	-1,479M	-1,348M	-416M	-420M	-425M	0M	0M	0M	0M
Return on Deferred Income Tax	-1,499.22%	-9,324.13%	35,275.84%	93,049.60%	70,005.68%	55,541.03%	46,210.30%	-3,349.68%	-1,615.42%	-1,443.20%	-1,860.19%	-1,194.27%	-1,275.66%	-40,847.33%	402,554.55%	-607.15%	-322.20%	-3,074.67%	828.52%	5,443.30%	-6,668.88%	-115,068.42%	1,779.66%	1,157,500.00%	-8,527.27%	1,911.94%	1,891.02%	3,340.86%	5,752.97%	-6,845.81%	-552.27%	-558.68%	-1,881.97%	-1,749.05%	-2,216.71%	0.00%	0.00%	0.00%	0.00%
Stock-Based Compensation	10,773M	9,188M	6,575M	5,173M	4,133M	3,307M	2,756M	12,125M	11,059M	11,974M	10,734M	9,611M	7,502M	6,118M	5,289M	4,652M	3,940M	3,266M	2,668M	2,574M	2,446M	2,406M	2,244M	2,166M	1,891M	1,708M	1,479M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Stock-Based Compensation	808.14%	879.10%	804.71%	810.49%	759.89%	607.91%	506.59%	865.25%	818.45%	850.44%	821.09%	752.90%	969.58%	1,001.49%	837.23%	843.51%	420.58%	780.43%	769.83%	473.70%	902.45%	908.69%	756.60%	1,068.79%	992.07%	852.99%	1,195.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Change in Working Capital	-1,971M	-1,281M	2,193M	14,700M	13,455M	10,940M	9,224M	9,478M	262M	-5,350M	1,824M	-2,388M	446M	-936M	-1,483M	3,866M	20,467M	4,876M	610M	46,585M	44,949M	42,878M	35,930M	28,224M	30,035M	-178M	22,097M	-961M	-2,397M	174M	1,320M	634M	1,992M	298M	-2,623M	1,479M	2,623M	678M	1,044M
Return on Change in Working Capital	-33.86%	1,932.27%	1,166.12%	794.45%	94.26%	543.70%	488.35%	1,106.90%	34,546.56%	-1,903.40%	4,832.02%	-3,030.19%	16,308.97%	-6,546.05%	-2,985.91%	1,015.00%	80.96%	522.74%	3,367.05%	26.17%	49.11%	50.99%	47.25%	82.02%	62.46%	-8,184.83%	80.02%	-1,463.58%	-525.62%	7,042.53%	618.79%	1,187.85%	393.02%	2,465.10%	-359.17%	526.37%	171.18%	509.44%	210.25%
Accounts Receivable	-7,286M	-7,035M	-4,508M	-3,277M	-2,729M	-2,335M	-2,031M	-8,128M	-4,188M	-10,581M	-7,191M	-4,087M	-6,834M	-6,481M	-2,577M	-2,812M	-3,862M	-1,216M	562M	1,456M	-1,120M	-1,807M	-1,156M	-1,451M	-2,238M	2,215M	-1,569M	-1,764M	-2,071M	-1,243M	-687M	187M	-1,623M	-418M	-944M	-687M	-520M	-336M	-71M
Return on Accounts Receivable	-1,319.52%	-1,193.66%	-795.27%	-890.68%	-803.66%	-658.42%	-785.82%	-1,290.75%	-2,161.22%	-962.40%	-1,225.64%	-1,770.52%	-1,064.35%	-945.39%	-1,718.32%	-1,395.45%	-429.08%	-2,096.13%	3,654.63%	837.43%	-1,970.89%	-1,209.91%	-1,468.69%	-1,595.45%	-838.25%	657.74%	-1,126.90%	-797.34%	-608.35%	-985.84%	-1,188.94%	4,027.27%	-482.38%	-1,757.42%	-997.99%	-1,133.19%	-863.46%	-1,027.98%	-3,091.55%
Inventory	945M	195M	193M	21M	16M	13M	10M	490M	1,416M	309M	1,284M	1,242M	-1,123M	-737M	168M	597M	-465M	50M	600M	-272M	-161M	-802M	184M	-561M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Inventory	15,215.23%	6,171.00%	11,462.31%	6,586.96%	4,940.22%	3,952.18%	3,293.48%	21,410.61%	6,392.09%	32,955.34%	6,864.17%	5,826.17%	-6,477.11%	-8,313.57%	26,357.74%	6,572.86%	-3,563.66%	50,978.00%	3,423.17%	-4,482.72%	-13,710.56%	-2,726.06%	9,227.17%	-4,126.56%	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%
Accounts Payable	464M	1,427M	1,170M	779M	584M	467M	389M	871M	1,415M	569M	3,545M	-2,721M	2,943M	2,798M	3,018M	232M	1,148M	81M	88M	-1,054M	473M	537M	-31M	58M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Accounts Payable	5,907.84%	4,476.98%	9,701.71%	5,982.96%	4,487.22%	3,589.78%	2,991.48%	12,045.01%	6,396.61%	17,896.66%	2,486.21%	-2,659.35%	2,471.56%	2,189.81%	1,467.23%	16,913.79%	1,443.47%	31,467.90%	23,339.77%	-1,156.83%	4,666.81%	4,071.32%	-54,767.74%	39,913.79%	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	3,906M	4,132M	5,339M	17,177M	15,565M	12,780M	10,842M	16,245M	1,619M	4,353M	4,186M	3,178M	5,460M	3,484M	-2,092M	5,849M	23,646M	5,961M	-640M	46,455M	45,757M	44,950M	36,933M	30,178M	31,473M	-1,977M	23,666M	803M	-326M	1,417M	2,007M	447M	3,615M	716M	-1,679M	2,166M	3,143M	1,014M	1,115M
Return on Other Working Capital	2,240.59%	1,962.52%	565.53%	393.41%	159.27%	295.38%	262.10%	645.81%	5,590.61%	2,339.35%	2,105.49%	2,276.94%	1,332.20%	1,758.64%	-2,116.68%	670.88%	70.08%	427.60%	-3,209.22%	26.25%	48.24%	48.64%	45.97%	76.71%	59.61%	-736.92%	74.71%	1,751.56%	-3,864.72%	864.78%	406.98%	1,684.79%	216.57%	1,025.98%	-561.11%	359.42%	142.86%	340.63%	196.86%
Other Non-Cash Items	370M	-110M	-544M	-12,264M	-11,670M	-8,328M	-6,705M	-16,175M	166M	609M	305M	196M	-409M	-1,249M	-219M	-792M	-2,212M	-2,073M	407M	-37,865M	-41,848M	-42,050M	-27,447M	-29,314M	-29,066M	-386M	-22,636M	1,281M	1,365M	3,501M	5,431M	7,587M	4,020M	4,662M	3,803M	2,947M	296M	0M	0M
Return on Other Non-Cash Items	27,512.37%	11,969.43%	3,774.07%	2,497.53%	1,778.34%	1,460.76%	1,284.92%	-648.61%	54,525.30%	16,721.18%	28,897.05%	36,918.88%	-17,784.35%	-4,905.60%	-20,219.63%	-4,954.55%	-749.14%	-1,229.57%	5,046.44%	-32.20%	-52.75%	-51.99%	-61.86%	-78.97%	-64.54%	-3,774.35%	-78.11%	1,097.97%	923.00%	350.01%	150.40%	99.26%	194.75%	157.57%	247.73%	264.17%	1,516.89%	0.00%	0.00%
Net Cash from Operating Activities	114,097M	101,613M	73,764M	59,151M	49,209M	42,366M	36,685M	147,039M	122,145M	136,162M	118,548M	87,582M	89,035M	76,740M	60,675M	52,185M	43,884M	39,507M	33,325M	29,668M	32,502M	28,833M	31,626M	26,994M	24,073M	19,037M	21,612M	17,796M	14,404M	16,605M	14,626M	15,797M	14,509M	13,422M	11,426M	13,137M	8,433M	4,689M	3,719M
Return on Net Cash from Operating Activities	77.25%	78.66%	70.54%	68.64%	71.62%	68.74%	68.20%	71.35%	74.10%	74.79%	74.35%	82.62%	81.70%	79.84%	72.98%	75.19%	37.76%	64.52%	61.63%	41.10%	67.92%	75.83%	53.68%	85.76%	77.93%	76.53%	81.81%	79.03%	87.47%	73.80%	55.85%	47.67%	53.96%	54.73%	82.45%	59.26%	53.24%	73.66%	59.02%
Capital Expenditures (PPE)	-45,712M	-36,329M	-23,911M	-17,297M	-13,579M	-11,051M	-9,313M	-69,022M	-49,483M	-64,551M	-44,477M	-28,107M	-23,886M	-20,622M	-15,441M	-13,925M	-11,632M	-8,129M	-8,343M	-5,944M	-5,485M	-4,257M	-2,305M	-2,355M	-1,977M	-3,119M	-3,182M	-2,264M	-1,578M	-812M	-1,109M	-891M	-770M	-1,103M	-879M	-583M	-656M	-499M	-494M
Return on Capital Expenditures (PPE)	-204.45%	-243.00%	-248.58%	-355.10%	-435.89%	-539.66%	-590.65%	-152.00%	-182.92%	-157.75%	-198.16%	-257.45%	-304.52%	-297.11%	-286.78%	-281.80%	-142.46%	-313.56%	-246.18%	-205.13%	-402.44%	-513.58%	-736.57%	-983.01%	-948.91%	-467.10%	-555.66%	-621.25%	-798.42%	-1,509.11%	-736.52%	-845.23%	-1,016.75%	-666.00%	-1,071.79%	-1,335.33%	-684.45%	-692.18%	-444.33%
Acquisitions (Net)	-25,593M	-21,545M	-14,086M	-10,819M	-8,663M	-6,981M	-5,824M	-4,707M	-69,795M	-5,978M	-69,132M	-1,670M	-22,038M	-8,909M	-2,521M	-2,388M	-888M	-25,944M	-1,393M	-3,723M	-5,937M	-1,584M	-10,112M	-71M	-245M	-868M	-8,053M	-1,150M	-649M	-207M	-4M	-1,063M	0M	0M	0M	0M	-190M	0M	0M
Return on Acquisitions (Net)	-2,054.64%	-1,436.35%	-1,402.02%	-3,258.22%	-3,079.64%	-10,896.84%	-9,159.47%	-2,228.85%	-129.68%	-1,703.45%	-127.49%	-4,332.99%	-330.06%	-687.74%	-1,756.49%	-1,643.22%	-1,866.10%	-98.25%	-1,474.44%	-327.50%	-371.80%	-1,380.24%	-167.90%	-32,605.63%	-7,657.14%	-1,678.46%	-219.56%	-1,223.04%	-1,941.29%	-5,919.81%	-204,200.00%	-708.47%	0.00%	0.00%	0.00%	0.00%	-2,363.16%	0.00%	0.00%
Purchases of Investments	-28,386M	-34,908M	-75,347M	-72,902M	-63,568M	-67,090M	-58,805M	-45,826M	-10,892M	-29,775M	-17,732M	-37,651M	-26,456M	-62,924M	-77,190M	-57,697M	-137,380M	-176,905M	-129,758M	-98,729M	-72,690M	-75,396M	-57,250M	-35,993M	-31,670M	-37,780M	-20,954M	-36,308M	-51,117M	-68,045M	-92,495M	-89,621M	-89,386M	-66,346M	-43,158M	-36,441M	-4,828M	-921M	-1,551M
Return on Purchases of Investments	-343.75%	-280.71%	-157.12%	-115.79%	-99.12%	-81.50%	-89.68%	-228.94%	-831.00%	-342.01%	-497.04%	-192.19%	-274.94%	-97.37%	-57.37%	-68.01%	-12.06%	-14.41%	-15.83%	-12.35%	-30.37%	-29.00%	-29.66%	-64.32%	-59.24%	-38.56%	-84.38%	-38.74%	-24.65%	-18.01%	-8.83%	-8.40%	-8.76%	-11.07%	-21.83%	-21.36%	-93.00%	-375.03%	-141.52%
Sales / Maturities of Investments	36,307M	43,923M	78,569M	70,906M	62,216M	65,666M	56,651M	30,577M	18,725M	25,388M	35,669M	47,864M	44,894M	65,800M	84,170M	58,237M	143,937M	164,394M	115,341M	85,861M	65,366M	57,594M	45,275M	23,803M	22,578M	25,997M	27,729M	46,187M	58,230M	84,091M	90,863M	84,362M	79,311M	58,715M	32,110M	25,754M	0M	0M	0M
Return on Sales / Maturities of Investments	266.46%	210.90%	121.93%	96.00%	84.75%	69.99%	60.31%	343.11%	483.38%	401.10%	247.09%	151.18%	162.02%	93.12%	52.61%	67.38%	11.51%	15.50%	17.81%	14.20%	33.77%	37.96%	37.50%	97.26%	83.09%	56.04%	63.76%	30.45%	21.64%	14.57%	8.99%	8.93%	9.87%	12.51%	29.34%	30.23%	0.00%	0.00%	0.00%
Other Investing Activities	-699M	-1,169M	-718M	-553M	-406M	-324M	-397M	3,230M	-1,229M	2,317M	-1,298M	-3,116M	-2,825M	-922M	-1,241M	0M	-98M	-197M	203M	-466M	-87M	-168M	-394M	0M	-1,502M	-930M	-127M	-376M	3,117M	0M	0M	0M	0M	0M	0M	79M	-1,598M	-1,669M	-625M
Return on Other Investing Activities	-1,572.46%	-2,787.53%	-3,723.58%	-5,503.17%	-5,131.08%	-4,104.87%	-3,120.21%	3,248.05%	-7,364.69%	4,394.99%	-6,790.14%	-2,322.24%	-2,574.80%	-6,645.44%	-3,568.17%	0.00%	-16,909.18%	-12,938.58%	10,117.73%	-2,616.52%	-25,372.41%	-13,013.69%	-4,309.14%	0.00%	-1,249.00%	-1,566.56%	-13,922.05%	-3,740.69%	404.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9,854.43%	-280.98%	-206.95%	-351.20%
Net Cash from Investing Activities	-64,083M	-50,027M	-35,493M	-30,665M	-23,878M	-19,682M	-17,607M	-85,748M	-112,674M	-72,599M	-96,970M	-22,680M	-30,311M	-27,577M	-12,223M	-15,773M	-6,061M	-46,781M	-23,950M	-23,001M	-18,833M	-23,811M	-24,786M	-14,616M	-11,314M	-15,770M	-4,587M	6,089M	8,003M	15,027M	-2,745M	-7,213M	-10,845M	-8,734M	-11,927M	-11,191M	-7,272M	-3,089M	-2,670M
Return on Net Cash from Investing Activities	-183.40%	-202.47%	-203.71%	-168.40%	-139.06%	-130.32%	-122.08%	-122.35%	-80.33%	-140.27%	-90.89%	-319.05%	-239.97%	-222.18%	-362.28%	-248.78%	-273.40%	-54.49%	-85.76%	-53.01%	-117.21%	-91.82%	-68.50%	-158.39%	-165.81%	-92.38%	-385.46%	230.99%	157.43%	81.55%	-297.56%	-104.41%	-72.19%	-84.11%	-78.99%	-69.56%	-61.74%	-111.82%	-82.21%
Net Debt Issuance	-3,712M	-4,782M	611M	2,416M	2,108M	1,687M	1,406M	6,712M	-30,402M	-8,962M	575M	-2,750M	-9,023M	-3,750M	-5,518M	-4,000M	-10,201M	31,459M	18,283M	13,661M	6,962M	3,537M	0M	5,960M	190M	5,746M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Debt Issuance	3,853.48%	1,824.08%	736.78%	585.38%	945.40%	756.32%	630.26%	1,563.05%	-297.72%	-1,136.26%	15,328.00%	-2,631.31%	-806.14%	-1,633.89%	-802.48%	-981.00%	-162.44%	81.02%	112.34%	89.25%	317.06%	618.12%	0.00%	388.42%	9,873.68%	253.55%	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%
Long-Term Debt Issuance	-3,547M	-4,683M	1,170M	2,468M	1,910M	1,528M	1,274M	966M	-11,214M	-3,216M	-4,675M	-2,750M	-9,023M	-3,750M	-5,518M	-4,000M	-2,877M	36,422M	11,088M	9,180M	6,462M	3,537M	0M	6,146M	1,181M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Long-Term Debt Issuance	-2,561.00%	-2,024.60%	-1,222.73%	-717.20%	-458.48%	-366.78%	-305.65%	10,860.46%	-807.13%	-3,166.42%	-1,885.26%	-2,631.31%	-806.14%	-1,633.89%	-802.48%	-981.00%	-575.98%	69.98%	185.24%	132.82%	341.60%	618.12%	0.00%	376.67%	1,588.48%	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%
Short-Term Debt Issuance	-165M	-99M	-559M	-53M	198M	158M	132M	5,746M	-19,188M	-5,746M	5,250M	0M	0M	0M	0M	0M	-7,324M	-4,963M	7,195M	4,481M	500M	0M	0M	-186M	-991M	5,746M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Short-Term Debt Issuance	-31.15%	-18.69%	-54.78%	-553.81%	-497.33%	-397.87%	-331.55%	1,825.83%	-471.71%	-1,772.22%	1,678.78%	0.00%	0.00%	0.00%	0.00%	0.00%	-226.26%	-513.58%	285.46%	272.10%	4,414.80%	0.00%	0.00%	-12,446.24%	-1,893.04%	253.55%	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	-17,332M	-21,708M	-18,460M	-14,787M	-14,324M	-12,272M	-10,428M	-17,924M	-14,507M	-16,364M	-15,252M	-20,379M	-30,855M	-25,692M	-21,625M	-18,401M	-9,719M	-11,016M	-15,301M	-13,809M	-6,709M	-4,429M	-3,116M	-9,133M	-8,958M	-8,774M	-9,039M	-20,793M	-17,106M	-4,948M	-635M	-4,366M	-4,572M	-5,821M	-2,179M	-834M	-971M	-1,282M	-757M
Return on Net Stock Issuance	-518.41%	-405.89%	-298.36%	-312.86%	-270.26%	-296.37%	-326.56%	-585.32%	-623.92%	-622.29%	-577.87%	-355.08%	-235.74%	-238.48%	-204.77%	-213.25%	-170.50%	-231.38%	-134.23%	-88.30%	-329.02%	-493.63%	-544.87%	-253.48%	-209.42%	-166.05%	-195.61%	-67.64%	-73.65%	-247.66%	-1,286.30%	-172.49%	-171.24%	-126.20%	-432.35%	-933.45%	-462.41%	-269.42%	-289.96%
Common Stock Issuance	1,975M	1,892M	1,439M	1,393M	1,808M	1,890M	1,864M	2,039M	2,023M	2,056M	2,002M	1,866M	1,841M	1,693M	1,343M	1,142M	1,002M	772M	668M	634M	607M	931M	1,913M	2,422M	2,311M	579M	3,494M	6,782M	2,101M	3,109M	2,748M	2,120M	1,497M	1,620M	2,717M	2,116M	1,497M	1,819M	504M
Return on Common Stock Issuance	4,411.06%	4,160.65%	3,556.67%	3,021.21%	2,497.96%	2,079.29%	1,787.41%	5,145.27%	4,474.15%	4,952.92%	4,402.40%	3,877.87%	3,951.00%	3,619.08%	3,297.17%	3,436.08%	1,653.79%	3,301.68%	3,074.70%	1,923.19%	3,636.57%	2,348.34%	887.51%	955.82%	811.77%	2,516.23%	506.04%	207.39%	599.67%	394.15%	297.23%	355.24%	522.98%	453.46%	346.74%	367.91%	299.93%	189.88%	435.52%
Common Stock Repurchased	-19,306M	-23,600M	-19,899M	-16,179M	-16,131M	-14,163M	-12,291M	-19,963M	-16,530M	-18,420M	-17,254M	-22,245M	-32,696M	-27,385M	-22,968M	-19,543M	-10,721M	-11,788M	-15,969M	-14,443M	-7,316M	-5,360M	-5,029M	-11,555M	-11,269M	-9,353M	-12,533M	-27,575M	-19,207M	-8,057M	-3,383M	-6,486M	-6,069M	-7,441M	-4,896M	-2,950M	-2,468M	-3,101M	-1,261M
Return on Common Stock Repurchased	-462.98%	-367.03%	-272.81%	-270.67%	-232.00%	-215.10%	-210.04%	-525.53%	-547.56%	-552.83%	-510.81%	-325.29%	-222.47%	-223.74%	-192.79%	-200.79%	-154.57%	-216.23%	-128.62%	-84.42%	-301.72%	-407.89%	-337.60%	-200.35%	-166.47%	-155.77%	-141.08%	-51.01%	-65.60%	-152.09%	-241.44%	-116.11%	-129.00%	-98.72%	-192.42%	-263.90%	-181.93%	-111.38%	-174.07%
Preferred Stock Issuance	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	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%	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%
Net Dividends Paid	-21,884M	-20,062M	-16,481M	-13,506M	-11,150M	-10,468M	-8,726M	-24,677M	-22,294M	-24,082M	-21,771M	-19,800M	-18,135M	-16,521M	-15,137M	-13,811M	-12,699M	-11,845M	-11,006M	-9,882M	-8,879M	-7,455M	-6,385M	-5,180M	-4,578M	-4,468M	-4,015M	-3,805M	-3,545M	-36,112M	-1,729M	-857M	0M	0M	-13M	-28M	-28M	-15M	0M
Return on Net Dividends Paid	-397.72%	-393.02%	-307.41%	-296.81%	-317.67%	-309.54%	-4,902.46%	-425.14%	-405.99%	-422.86%	-404.83%	-365.46%	-401.09%	-370.87%	-292.53%	-284.12%	-130.49%	-215.19%	-186.62%	-123.39%	-248.61%	-293.27%	-265.90%	-446.91%	-409.79%	-326.07%	-440.37%	-369.65%	-355.40%	-33.93%	-472.41%	-878.76%	0.00%	0.00%	-72,469.23%	-27,803.57%	-16,035.71%	-23,026.67%	0.00%
Common Dividends Paid	-21,884M	-20,062M	-16,481M	-13,506M	-11,150M	-10,468M	-8,726M	-24,677M	-22,294M	-24,082M	-21,771M	-19,800M	-18,135M	-16,521M	-15,137M	-13,811M	-12,699M	-11,845M	-11,006M	-9,882M	-8,879M	-7,455M	-6,385M	-5,180M	-4,578M	-4,468M	-4,015M	-3,805M	-3,545M	-36,112M	-1,729M	-857M	0M	0M	-13M	-28M	-28M	-15M	0M
Return on Common Dividends Paid	-397.72%	-393.02%	-307.41%	-296.81%	-317.67%	-309.54%	-4,902.46%	-425.14%	-405.99%	-422.86%	-404.83%	-365.46%	-401.09%	-370.87%	-292.53%	-284.12%	-130.49%	-215.19%	-186.62%	-123.39%	-248.61%	-293.27%	-265.90%	-446.91%	-409.79%	-326.07%	-440.37%	-369.65%	-355.40%	-33.93%	-472.41%	-878.76%	0.00%	0.00%	-72,469.23%	-27,803.57%	-16,035.71%	-23,026.67%	0.00%
Preferred Dividends Paid	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	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%	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	-1,535M	-1,598M	-1,395M	-890M	-650M	-512M	-388M	-11,033M	-1,891M	-2,291M	-1,309M	-1,006M	-863M	-2,523M	-3,751M	-675M	-971M	-190M	-369M	362M	-39M	199M	93M	-23M	55M	33M	120M	54M	89M	-18M	0M	0M	0M	235M	0M	0M	0M	796M	352M
Return on Other Financing Activities	-6,123.63%	-5,845.58%	-5,690.97%	-12,103.42%	-2,417.85%	-4,532.36%	-3,741.71%	-950.89%	-4,786.46%	-4,444.87%	-6,733.08%	-7,192.94%	-8,428.51%	-2,428.50%	-1,180.51%	-5,813.33%	-1,706.59%	-13,415.26%	-5,566.12%	3,368.23%	-56,600.00%	10,986.43%	18,255.91%	-100,652.17%	34,109.09%	44,148.48%	14,734.17%	26,046.30%	14,156.18%	-68,077.78%	0.00%	0.00%	0.00%	3,125.96%	0.00%	0.00%	0.00%	433.92%	623.58%
Net Cash from Financing Activities	-44,464M	-48,151M	-35,725M	-26,767M	-24,015M	-21,565M	-18,136M	-46,922M	-69,094M	-51,699M	-37,757M	-43,935M	-58,876M	-48,486M	-46,031M	-36,887M	-33,590M	8,408M	-8,393M	-9,668M	-8,665M	-8,148M	-9,408M	-8,376M	-13,291M	-7,463M	-12,934M	-24,544M	-20,562M	-41,078M	-2,364M	-5,223M	-4,572M	-5,586M	-2,192M	-862M	-999M	-501M	-405M
Return on Net Cash from Financing Activities	-198.37%	-169.00%	-103.85%	-142.97%	-136.81%	-142.34%	-219.07%	-223.59%	-131.00%	-196.97%	-233.43%	-164.70%	-123.54%	-126.37%	-96.20%	-106.38%	-49.33%	303.15%	-244.72%	-126.12%	-254.75%	-268.32%	-180.46%	-276.38%	-141.15%	-195.22%	-136.70%	-57.31%	-61.27%	-29.83%	-345.52%	-144.19%	-171.24%	-131.51%	-429.79%	-903.13%	-449.45%	-689.42%	-541.98%
Effect of FX on Cash	-114M	-102M	-83M	-70M	-47M	-35M	-28M	-151M	11M	63M	-210M	-194M	-141M	-29M	-201M	-115M	50M	19M	-67M	-73M	-139M	-8M	-104M	103M	-39M	-67M	137M	56M	18M	-7M	27M	61M	2M	-26M	29M	52M	-29M	6M	-5M
Return on Effect of FX on Cash	27,456.36%	-36,099.49%	-10,001.01%	-26,648.68%	-18,078.06%	-5,232.98%	-2,839.44%	-69,478.15%	822,836.36%	161,638.10%	-41,969.52%	-37,299.48%	-51,587.23%	-211,279.31%	-22,030.35%	-34,121.74%	33,142.00%	134,152.63%	-30,655.22%	-16,702.74%	-15,880.58%	-273,287.50%	-16,325.00%	22,475.73%	-48,102.56%	-21,744.78%	12,905.84%	25,116.07%	69,994.44%	-175,057.14%	30,251.85%	12,345.90%	391,450.00%	-28,253.85%	32,486.21%	14,971.15%	-15,482.76%	57,566.67%	-43,900.00%
Net Change in Cash	5,437M	3,333M	2,465M	1,649M	1,270M	1,083M	999M	14,218M	-59,612M	11,927M	-16,389M	20,773M	-293M	648M	2,220M	-590M	4,283M	1,153M	915M	-3,074M	4,865M	-3,134M	-2,672M	4,105M	-571M	-4,263M	4,228M	-603M	1,863M	-9,453M	9,544M	3,422M	-906M	-924M	-129M	1,136M	133M	1,105M	639M
Return on Net Change in Cash	221.45%	-2,941.10%	-1,451.94%	-1,015.43%	-1,004.83%	-863.19%	-805.52%	737.88%	-151.84%	853.79%	-537.78%	348.34%	-24,825.26%	9,455.40%	1,994.64%	-6,650.85%	386.90%	2,210.67%	2,244.70%	-396.65%	453.73%	-697.61%	-635.40%	563.95%	-3,285.46%	-341.75%	418.19%	-2,332.50%	676.27%	-129.63%	85.58%	220.08%	-864.13%	-795.02%	-7,303.10%	685.30%	3,375.94%	312.58%	343.51%
Cash at Beginning of Period	22,317M	18,950M	13,782M	11,490M	10,322M	9,559M	8,535M	91,183M	135,706M	18,315M	34,704M	13,931M	14,224M	13,576M	11,356M	11,946M	7,663M	6,510M	5,595M	8,669M	3,804M	6,938M	9,610M	5,505M	6,076M	10,339M	6,111M	6,714M	4,851M	14,304M	6,438M	3,016M	3,922M	4,846M	4,975M	3,839M	3,706M	2,601M	1,962M
Return on Cash at Beginning of Period	443.13%	458.42%	398.54%	374.58%	341.34%	305.61%	279.94%	115.06%	66.70%	556.00%	253.96%	519.42%	511.38%	451.32%	389.93%	328.48%	216.25%	391.54%	367.10%	140.65%	580.28%	315.12%	176.67%	420.53%	308.76%	140.91%	289.33%	209.49%	259.72%	85.67%	126.87%	249.70%	199.62%	151.59%	189.37%	202.79%	121.15%	132.80%	111.88%
Cash at End of Period	27,754M	22,283M	16,247M	13,139M	11,591M	10,641M	9,533M	105,401M	76,094M	30,242M	18,315M	34,704M	13,931M	14,224M	13,576M	11,356M	11,946M	7,663M	6,510M	5,595M	8,669M	3,804M	6,938M	9,610M	5,505M	6,076M	10,339M	6,111M	6,714M	4,851M	15,982M	6,438M	3,016M	3,922M	4,846M	4,975M	3,839M	3,706M	2,601M
Return on Cash at End of Period	342.15%	395.87%	343.79%	331.39%	307.01%	280.31%	255.11%	99.54%	118.95%	336.72%	481.22%	208.51%	522.13%	430.76%	326.17%	345.54%	138.72%	332.62%	315.50%	217.93%	254.63%	574.74%	244.71%	240.89%	340.78%	239.78%	171.01%	230.16%	187.65%	252.61%	51.11%	116.98%	259.58%	187.30%	194.41%	156.48%	116.96%	93.20%	84.39%
Operating Cash Flow	114,097M	101,613M	73,764M	59,151M	49,209M	42,366M	36,685M	147,039M	122,145M	136,162M	118,548M	87,582M	89,035M	76,740M	60,675M	52,185M	43,884M	39,507M	33,325M	29,668M	32,502M	28,833M	31,626M	26,994M	24,073M	19,037M	21,612M	17,796M	14,404M	16,605M	14,626M	15,797M	14,509M	13,422M	11,426M	13,137M	8,433M	4,689M	3,719M
Return on Operating Cash Flow	77.25%	78.66%	70.54%	68.64%	71.62%	68.74%	68.20%	71.35%	74.10%	74.79%	74.35%	82.62%	81.70%	79.84%	72.98%	75.19%	37.76%	64.52%	61.63%	41.10%	67.92%	75.83%	53.68%	85.76%	77.93%	76.53%	81.81%	79.03%	87.47%	73.80%	55.85%	47.67%	53.96%	54.73%	82.45%	59.26%	53.24%	73.66%	59.02%
Capital Expenditure	-45,712M	-36,329M	-23,911M	-17,297M	-13,579M	-11,051M	-9,313M	-69,022M	-49,483M	-64,551M	-44,477M	-28,107M	-23,886M	-20,622M	-15,441M	-13,925M	-11,632M	-8,129M	-8,343M	-5,944M	-5,485M	-4,257M	-2,305M	-2,355M	-1,977M	-3,119M	-3,182M	-2,264M	-1,578M	-812M	-1,109M	-891M	-770M	-1,103M	-879M	-583M	-656M	-499M	-494M
Return on Capital Expenditure	-204.45%	-243.00%	-248.58%	-355.10%	-435.89%	-539.66%	-590.65%	-152.00%	-182.92%	-157.75%	-198.16%	-257.45%	-304.52%	-297.11%	-286.78%	-281.80%	-142.46%	-313.56%	-246.18%	-205.13%	-402.44%	-513.58%	-736.57%	-983.01%	-948.91%	-467.10%	-555.66%	-621.25%	-798.42%	-1,509.11%	-736.52%	-845.23%	-1,016.75%	-666.00%	-1,071.79%	-1,335.33%	-684.45%	-692.18%	-444.33%
Free Cash Flow	68,386M	65,285M	49,853M	41,854M	35,630M	31,315M	27,366M	78,017M	72,662M	71,611M	74,071M	59,475M	65,149M	56,118M	45,234M	38,260M	32,252M	31,378M	24,982M	23,724M	27,017M	24,576M	29,321M	24,639M	22,096M	15,918M	18,430M	15,532M	12,826M	15,793M	13,517M	14,906M	13,739M	12,319M	10,547M	12,554M	7,587M	4,190M	3,225M
Return on Free Cash Flow	127.62%	120.74%	101.90%	92.86%	92.70%	86.37%	84.01%	134.47%	124.57%	142.20%	118.99%	121.67%	111.65%	109.18%	97.89%	102.56%	51.38%	81.23%	82.22%	51.40%	81.70%	88.96%	57.90%	93.96%	84.90%	91.53%	95.94%	90.55%	98.23%	77.59%	60.43%	50.52%	56.98%	59.63%	89.32%	62.01%	59.18%	82.43%	68.06%

Free Cash Flow Returns

Metric	3Y Avg	5Y Avg	10Y Avg	15Y Avg	20Y Avg	25Y Avg	30Y Avg	TTM	TTM-1	2025-06-30	2024-06-30	2023-06-30	2022-06-30	2021-06-30	2020-06-30	2019-06-30	2018-06-30	2017-06-30	2016-06-30	2015-06-30	2014-06-30	2013-06-30	2012-06-30	2011-06-30	2010-06-30	2009-06-30	2008-06-30	2007-06-30	2006-06-30	2005-06-30	2004-06-30	2003-06-30	2002-06-30	2001-06-30	2000-06-30	1999-06-30	1998-06-30	1997-06-30	1996-06-30
Net Income	87,443M	79,268M	54,246M	42,581M	35,820M	30,381M	26,229M	104,912M	90,512M	101,832M	88,136M	72,361M	72,738M	61,271M	44,281M	39,240M	16,571M	25,489M	20,539M	12,193M	22,074M	21,863M	16,978M	23,150M	18,760M	14,569M	17,681M	14,065M	12,599M	12,254M	8,168M	7,531M	7,829M	7,346M	9,421M	7,785M	4,490M	3,454M	2,195M
EBITDA	132,771M	116,737M	83,404M	65,393M	54,719M	46,288M	39,908M	169,991M	139,513M	160,165M	133,009M	105,140M	100,239M	85,134M	68,423M	58,056M	49,468M	40,901M	33,504M	25,245M	33,629M	31,236M	25,614M	31,132M	27,837M	22,421M	25,976M	19,878M	17,375M	15,416M	10,220M	10,938M	12,994M	13,256M	12,256M	11,053M	7,734M	5,428M	3,558M
Return on EBITDA	66.22%	68.64%	63.26%	63.81%	65.05%	65.79%	65.85%	61.72%	64.88%	63.58%	66.26%	68.82%	72.56%	71.97%	64.72%	67.59%	33.50%	62.32%	61.30%	48.30%	65.64%	69.99%	66.28%	74.36%	67.39%	64.98%	68.07%	70.76%	72.51%	79.49%	79.92%	68.85%	60.25%	55.42%	76.87%	70.43%	58.06%	63.63%	61.69%
(-) Tax Adjustment	24,147M	19,471M	15,425M	12,490M	10,915M	9,510M	8,391M	30,290M	25,517M	28,237M	24,249M	19,954M	13,145M	11,771M	11,295M	5,911M	26,994M	6,035M	6,664M	8,613M	6,946M	5,992M	6,084M	5,458M	6,959M	5,941M	6,690M	5,969M	5,388M	4,055M	3,375M	3,486M	4,158M	4,375M	4,167M	3,817M	2,855M	1,900M	1,247M
Return on (-) Tax Adjustment	362.24%	432.12%	400.84%	369.06%	339.23%	316.04%	294.87%	346.36%	354.72%	360.64%	363.46%	362.64%	553.36%	520.52%	392.04%	663.86%	61.39%	422.35%	308.19%	141.57%	317.80%	364.90%	279.06%	424.18%	269.58%	245.23%	264.30%	235.63%	233.84%	302.18%	241.99%	216.03%	188.29%	167.90%	226.06%	203.98%	157.28%	181.80%	176.06%
(-) Change In Working Capital	-1,971M	-1,281M	2,193M	14,700M	13,455M	10,940M	9,224M	9,478M	262M	-5,350M	1,824M	-2,388M	446M	-936M	-1,483M	3,866M	20,467M	4,876M	610M	46,585M	44,949M	42,878M	35,930M	28,224M	30,035M	-178M	22,097M	-961M	-2,397M	174M	1,320M	634M	1,992M	298M	-2,623M	1,479M	2,623M	678M	1,044M
Return on (-) Change In Working Capital	-33.86%	1,932.27%	1,166.12%	794.45%	94.26%	543.70%	488.35%	1,106.90%	34,546.56%	-1,903.40%	4,832.02%	-3,030.19%	16,308.97%	-6,546.05%	-2,985.91%	1,015.00%	80.96%	522.74%	3,367.05%	26.17%	49.11%	50.99%	47.25%	82.02%	62.46%	-8,184.83%	80.02%	-1,463.58%	-525.62%	7,042.53%	618.79%	1,187.85%	393.02%	2,465.10%	-359.17%	526.37%	171.18%	509.44%	210.25%
(-) Capital Expenditure	-45,712M	-36,329M	-23,911M	-17,297M	-13,579M	-11,051M	-9,313M	-69,022M	-49,483M	-64,551M	-44,477M	-28,107M	-23,886M	-20,622M	-15,441M	-13,925M	-11,632M	-8,129M	-8,343M	-5,944M	-5,485M	-4,257M	-2,305M	-2,355M	-1,977M	-3,119M	-3,182M	-2,264M	-1,578M	-812M	-1,109M	-891M	-770M	-1,103M	-879M	-583M	-656M	-499M	-494M
Return on (-) Capital Expenditure	-204.45%	-243.00%	-248.58%	-355.10%	-435.89%	-539.66%	-590.65%	-152.00%	-182.92%	-157.75%	-198.16%	-257.45%	-304.52%	-297.11%	-286.78%	-281.80%	-142.46%	-313.56%	-246.18%	-205.13%	-402.44%	-513.58%	-736.57%	-983.01%	-948.91%	-467.10%	-555.66%	-621.25%	-798.42%	-1,509.11%	-736.52%	-845.23%	-1,016.75%	-666.00%	-1,071.79%	-1,335.33%	-684.45%	-692.18%	-444.33%
Unlevered Free Cash Flow	64,884M	62,218M	41,874M	20,906M	16,771M	14,787M	12,981M	61,201M	64,251M	72,727M	62,459M	59,467M	62,762M	53,677M	43,170M	34,354M	-9,625M	21,861M	17,887M	-35,897M	-23,751M	-21,891M	-18,705M	-4,905M	-11,134M	13,539M	-5,993M	12,606M	12,806M	10,375M	4,416M	5,927M	6,074M	7,480M	9,833M	5,174M	1,600M	2,351M	773M
Return on Unlevered Free Cash Flow	134.27%	126.57%	90.89%	7.96%	-1.33%	25.23%	52.94%	171.42%	140.87%	140.02%	141.11%	121.68%	115.89%	114.15%	102.57%	114.22%	-172.17%	116.60%	114.83%	-33.97%	-92.94%	-99.87%	-90.77%	-472.00%	-168.49%	107.61%	-295.04%	111.57%	98.38%	118.11%	184.98%	127.06%	128.89%	98.21%	95.81%	150.45%	280.58%	146.91%	283.86%
(-) Net Interest Income After Taxes	410M	214M	-73M	-124M	59M	47M	39M	362M	-261M	216M	182M	831M	27M	-185M	74M	68M	-236M	-712M	-996M	-515M	-474M	-347M	-290M	499M	-113M	519M	659M	923M	1,042M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on (-) Net Interest Income After Taxes	34,814.45%	68,284.85%	44,582.81%	28,751.52%	21,146.52%	16,917.22%	14,097.68%	28,947.62%	-34,616.25%	47,185.88%	48,552.70%	8,704.78%	270,051.61%	-33,070.70%	59,591.01%	57,484.21%	-7,027.75%	-3,580.96%	-2,062.67%	-2,369.65%	-4,659.97%	-6,305.83%	-5,859.74%	4,639.83%	-16,564.90%	2,807.51%	2,681.76%	1,523.96%	1,209.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Debt Issuance	-3,712M	-4,782M	611M	2,416M	2,108M	1,687M	1,406M	6,712M	-30,402M	-8,962M	575M	-2,750M	-9,023M	-3,750M	-5,518M	-4,000M	-10,201M	31,459M	18,283M	13,661M	6,962M	3,537M	0M	5,960M	190M	5,746M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M	0M
Return on Net Debt Issuance	3,853.48%	1,824.08%	736.78%	585.38%	945.40%	756.32%	630.26%	1,563.05%	-297.72%	-1,136.26%	15,328.00%	-2,631.31%	-806.14%	-1,633.89%	-802.48%	-981.00%	-162.44%	81.02%	112.34%	89.25%	317.06%	618.12%	0.00%	388.42%	9,873.68%	253.55%	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%
Levered Free Cash Flow	60,762M	57,222M	42,558M	23,445M	18,821M	16,427M	14,347M	67,551M	34,111M	63,550M	62,852M	55,886M	53,712M	50,112M	37,578M	30,286M	-19,590M	54,032M	37,165M	-21,721M	-16,315M	-18,007M	-18,415M	556M	-10,831M	18,766M	-6,652M	11,683M	11,764M	10,375M	4,416M	5,927M	6,074M	7,480M	9,833M	5,174M	1,600M	2,351M	773M
Return on Levered Free Cash Flow	143.32%	137.53%	95.29%	313.88%	228.71%	209.26%	206.30%	155.31%	265.35%	160.24%	140.23%	129.48%	135.42%	122.27%	117.84%	129.57%	-84.59%	47.17%	55.26%	-56.13%	-135.30%	-121.41%	-92.20%	4,160.30%	-173.21%	77.63%	-265.80%	120.39%	107.10%	118.11%	184.98%	127.06%	128.89%	98.21%	95.81%	150.45%	280.58%	146.91%	283.86%