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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Thales S.A.

Ticker: 0IW5.L | Industry: Aerospace & Defense | Sector: Industrials
$260.75 -0.70 (-0.27%)
As of: 2026-01-28

Master Data Export


Enterprise Value

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001
Stock Price 145.33 135.58 118.18 80.42 73.39 100.21 106.18 92.70 83.57 61.63 44.58 41.31 26.14 27.07 26.36 33.92 33.02 43.04 34.16 35.95 32.70 26.25 34.25 40.76
Market Capitalization 29,912.41M 28,312.24M 25,031.84M 17,123.52M 15,610.35M 21,307.47M 22,639.51M 19,735.27M 17,726.88M 12,994.71M 9,233.41M 8,332.23M 5,208.76M 5,326.92M 5,167.72M 6,629.98M 6,479.06M 8,501.00M 6,152.15M 6,416.11M 5,654.99M 4,259.43M 5,404.44M 6,585.02M
(-) Cash & Equivalents 4,285.25M 4,092.95M 4,676.05M 4,414.05M 4,369.00M 2,731.55M 5,152.15M 3,923.80M 3,570.35M 2,751.65M 2,017.45M 2,625.15M 2,014.55M 2,285.60M 2,386.05M 1,225.06M 374.95M 366.03M 583.28M 329.98M 295.40M 258.93M 229.45M 840.05M
(+) Total Debt 8,116.55M 7,100.55M 5,411.60M 6,110.00M 7,652.80M 6,614.15M 2,715.60M 1,605.40M 1,843.65M 1,530.10M 1,591.40M 1,976.80M 1,392.20M 1,681.95M 1,176.95M 327.06M 323.85M 459.98M 562.18M 437.18M 503.73M 494.73M 536.08M 1,575.15M
Enterprise Value 33,743.71M 31,319.84M 25,767.39M 18,819.47M 18,894.15M 25,190.07M 20,202.96M 17,416.87M 16,000.18M 11,773.16M 8,807.36M 7,683.88M 4,586.41M 4,723.27M 3,958.62M 5,731.98M 6,427.96M 8,594.95M 6,131.05M 6,523.31M 5,863.32M 4,495.23M 5,711.07M 7,320.12M

Income Statement

Metric 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 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31
Revenue 40,554M 34,053M 20,577M 18,428M 17,569M 16,192M 16,989M 18,401M 15,855M 15,795M 14,885M 14,063M 12,974M 14,194M 14,158M 13,028M 13,125M 12,882M 12,665M 12,296M 10,264M 10,263M 10,283M 10,569M 11,105M 10,268M
Cost of Revenue 29,983M 25,321M 15,203M 13,662M 13,113M 12,159M 13,054M 13,877M 11,768M 11,951M 11,275M 10,688M 9,792M 10,845M 10,868M 10,067M 11,029M 10,633M 9,920M 9,561M 7,834M 7,851M 7,939M 8,203M 8,728M 7,856M
Gross Profit 10,571M 8,733M 5,374M 4,766M 4,455M 4,033M 3,935M 4,524M 4,087M 3,844M 3,610M 3,375M 3,182M 3,349M 3,290M 2,961M 2,096M 2,248M 2,745M 2,735M 2,431M 2,412M 2,344M 2,367M 2,378M 2,412M
Gross Profit Margin 26.1% 25.6% 26.1% 25.9% 25.4% 24.9% 23.2% 24.6% 25.8% 24.3% 24.3% 24.0% 24.5% 23.6% 23.2% 22.7% 16.0% 17.5% 21.7% 22.2% 23.7% 23.5% 22.8% 22.4% 21.4% 23.5%
R&D Expenses 2,505M 2,100M 1,274M 1,108M 1,064M 1,027M 1,025M 1,099M 881M 802M 736M 692M 641M 673M 687M 619M 612M 551M 440M 443M 361M -366M 368M 381M 430M 432M
SG&A Expenses 4,421M 3,761M 2,283M 2,005M 1,949M 1,771M 1,919M 2,020M 1,652M 1,590M 1,569M 1,513M 1,434M 1,554M 1,558M 1,433M 1,445M 1,445M 1,410M 1,401M 1,508M 213M 456M 1,485M 1,497M 1,495M
Operating Expenses 7,020M 5,861M 3,675M 3,113M 3,013M 2,798M 2,944M 3,118M 2,636M 2,505M 2,412M 2,316M 2,179M 2,326M 2,357M 2,068M 2,162M 2,081M 1,925M 1,973M 32M 95M 1,756M 1,669M 1,781M 1,767M
Operating Income (EBIT) 3,551M 2,872M 1,699M 1,654M 1,443M 1,235M 991M 1,406M 1,451M 1,339M 1,198M 1,059M 1,003M 1,024M 934M 894M -66M 167M 820M 762M 2,399M 2,318M 588M 698M 597M 645M
Operating Income Margin 8.8% 8.4% 8.3% 9.0% 8.2% 7.6% 5.8% 7.6% 9.2% 8.5% 8.0% 7.5% 7.7% 7.2% 6.6% 6.9% -0.5% 1.3% 6.5% 6.2% 23.4% 22.6% 5.7% 6.6% 5.4% 6.3%
Interest Income 196M 98M 124M 2M 26M 54M 8M 20M 24M 21M 18M 19M 22M 34M 43M 36M 24M 26M 50M 55M 150M 43M 45M 0M 0M 0M
Interest Expense 406M 150M 289M 230M 64M 81M 102M 52M 74M 24M 89M 76M 110M 107M 199M 83M 81M 92M 101M 100M 84M 126M 142M 109M 163M 199M
Net Interest Income -210M -52M -166M -228M -38M -27M -95M -32M -50M -3M -71M -56M -88M -74M -156M -48M -57M -66M -52M -45M 66M -83M -97M -109M -163M -199M
Unusual Items -1,014M -383M -353M -245M -58M -44M -314M 74M -59M -185M 144M 30M 61M -140M -48M -187M -205M -526M -163M 289M -1,977M -1,814M -24M -434M -237M -735M
EBT Excluding Unusual Items 3,341M 2,819M 1,533M 1,425M 1,405M 1,208M 897M 1,374M 1,401M 1,336M 1,127M 1,003M 915M 950M 777M 846M -123M 101M 768M 717M 2,465M 2,235M 491M 589M 434M 446M
Pre-Tax Income 2,327M 2,436M 1,180M 1,181M 1,347M 1,165M 582M 1,448M 1,342M 1,151M 1,270M 1,033M 976M 810M 730M 659M -328M -425M 606M 1,006M 488M 421M 468M 155M 198M -289M
Pre-Tax Margin 5.7% 7.2% 5.7% 6.4% 7.7% 7.2% 3.4% 7.9% 8.5% 7.3% 8.5% 7.3% 7.5% 5.7% 5.2% 5.1% -2.5% -3.3% 4.8% 8.2% 4.8% 4.1% 4.5% 1.5% 1.8% -2.8%
Income Tax Expense 579M 453M 247M 252M 225M 148M 90M 301M 314M 264M 256M 220M 214M 237M 194M 147M -221M -175M 103M 158M 100M 87M 127M 30M 83M 73M
Net Income 2,075M 2,426M 1,420M 1,023M 1,121M 1,089M 483M 1,122M 982M 680M 946M 765M 714M 573M 586M 512M -108M -202M 560M 887M 388M 334M 326M 112M 111M -366M
Net Income Margin 5.1% 7.1% 6.9% 5.6% 6.4% 6.7% 2.8% 6.1% 6.2% 4.3% 6.4% 5.4% 5.5% 4.0% 4.1% 3.9% -0.8% -1.6% 4.4% 7.2% 3.8% 3.3% 3.2% 1.1% 1.0% -3.6%
Depreciation & Amortization 2,012M 2,066M 1,155M 1,045M 1,059M 1,063M 1,126M 1,113M 485M 504M 492M 493M 450M 458M 481M 415M 445M 421M 433M 424M 295M 274M 286M 282M 307M 324M
EBITDA 5,563M 4,937M 2,854M 2,699M 2,502M 2,298M 2,117M 2,518M 1,936M 1,843M 1,690M 1,552M 1,453M 1,481M 1,415M 1,309M 379M 588M 1,253M 1,186M 2,694M 2,592M 875M 980M 904M 969M
EBITDA Margin 13.7% 14.5% 13.9% 14.6% 14.2% 14.2% 12.5% 13.7% 12.2% 11.7% 11.4% 11.0% 11.2% 10.4% 10.0% 10.0% 2.9% 4.6% 9.9% 9.6% 26.2% 25.3% 8.5% 9.3% 8.1% 9.4%
NOPAT 2,667M 2,338M 1,343M 1,300M 1,202M 1,079M 837M 1,113M 1,111M 1,032M 957M 833M 783M 724M 686M 694M -52M 132M 681M 643M 1,906M 1,837M 429M 562M 345M 510M
NOPAT Margin 6.6% 6.9% 6.5% 7.1% 6.8% 6.7% 4.9% 6.1% 7.0% 6.5% 6.4% 5.9% 6.0% 5.1% 4.8% 5.3% -0.4% 1.0% 5.4% 5.2% 18.6% 17.9% 4.2% 5.3% 3.1% 5.0%
Owner's Earnings 2,835M 3,544M 1,952M 1,443M 1,677M 1,701M 1,214M 1,731M 1,096M 736M 987M 820M 677M 578M 572M 663M 22M 209M 993M 1,311M 271M 217M 301M 19M 1M -578M
Owner's Earnings Margin 7.0% 10.4% 9.5% 7.8% 9.5% 10.5% 7.1% 9.4% 6.9% 4.7% 6.6% 5.8% 5.2% 4.1% 4.0% 5.1% 0.2% 1.6% 7.8% 10.7% 2.6% 2.1% 2.9% 0.2% 0.0% -5.6%
EPS (Basic) 10.05 11.47 6.91 4.91 5.29 5.12 2.27 5.28 4.62 3.21 4.49 3.68 3.49 2.85 2.94 2.60 -0.55 -1.03 2.87 4.56 2.30 1.99 2.00 0.69 0.70 -2.27
EPS (Diluted) 10.05 11.45 6.89 4.89 5.28 5.11 2.27 5.26 4.60 3.19 4.44 3.63 3.44 2.84 2.94 2.60 -0.55 -1.03 2.85 4.52 2.15 1.87 1.88 0.69 0.70 -2.27
Shares (Basic) 207M 211M 206M 209M 212M 213M 213M 213M 212M 212M 211M 208M 205M 201M 199M 197M 196M 195M 195M 194M 180M 178M 173M 162M 158M 162M
Shares (Diluted) 207M 212M 206M 209M 212M 213M 213M 213M 213M 213M 213M 211M 207M 202M 199M 197M 196M 195M 196M 196M 180M 178M 173M 162M 158M 162M

Balance Sheet

Metric MRQ MRQ-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 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31
Cash & Cash Equivalents 3,837.10M 4,767.10M 4,767.10M 3,979.90M 5,099.60M 5,049.40M 5,003.90M 2,931.40M 5,637.50M 4,282.70M 3,616.90M 3,450.20M 2,481.40M 3,023.80M 2,518.30M 1,923.10M 2,750.50M 1,960.10M 1,499.80M 1,464.10M 2,333.10M 1,319.90M 1,181.60M 1,035.70M 917.80M 1,680.10M
Short-Term Investments 49.80M 0.90M 0.90M 100.60M 200.50M 0.00M 0.00M 0.00M 250.00M 325.00M 250.00M 6.30M 3.70M 143.60M 387.00M 430.20M 7.90M 4.40M 22.40M 28.70M 0.00M 0.00M 6.00M 3.50M 0.10M 0.10M
Cash & Short-Term Investments 3,886.90M 4,768.00M 4,768.00M 4,080.50M 5,300.10M 5,049.40M 5,003.90M 2,931.40M 5,887.50M 4,607.70M 3,866.90M 3,456.50M 2,485.10M 3,167.40M 2,905.30M 2,353.30M 2,758.40M 1,964.50M 1,522.20M 1,492.80M 2,333.10M 1,319.90M 1,187.60M 1,039.20M 917.90M 1,680.20M
Net Receivables 10,487.50M 10,164.80M 10,164.80M 8,907.80M 7,972.30M 8,139.30M 7,969.40M 8,303.20M 7,059.10M 6,353.50M -135.50M 6,074.00M 6,238.90M 6,033.40M 5,589.80M 190.30M -277.20M 3,873.80M 3,943.20M 3,773.20M 3,150.20M -222.30M 3,048.90M 7,869.90M 7,375.10M 6,977.70M
Inventory 5,418.80M 5,831.20M 5,831.20M 3,997.00M 3,672.30M 3,336.00M 3,508.50M 3,731.30M 3,080.60M 2,803.40M 2,734.60M 2,560.80M 2,437.60M 2,518.00M 2,478.90M 2,426.90M 2,301.90M 2,210.80M 2,227.40M 2,142.60M 1,737.30M 1,619.50M 4,033.50M 2,964.30M 3,412.70M 3,754.40M
Other Current Assets 1,239.50M 135.10M 135.10M 3,167.40M 3,426.90M 2,767.90M 510.80M 363.30M 294.40M 257.50M 6,986.90M 619.00M 108.20M 0.00M 2,623.40M 7,447.50M 6,378.10M 2,338.00M 2,465.70M 2,480.00M 2,302.70M 5,693.80M 127.30M 1,431.50M 1,417.30M 1,382.10M
Total Current Assets 21,032.70M 20,899.10M 20,899.10M 20,152.70M 20,371.60M 19,292.60M 16,992.60M 15,329.20M 16,321.60M 14,022.10M 13,452.90M 12,710.30M 11,269.80M 11,718.80M 13,597.40M 12,418.00M 11,161.20M 10,387.10M 10,158.50M 9,888.60M 9,523.30M 8,410.90M 8,397.30M 13,304.90M 13,123.00M 13,794.40M
Property, Plant & Equipment 3,707.20M 3,715.50M 3,715.50M 3,596.10M 3,478.90M 3,399.00M 3,569.90M 3,830.40M 1,808.90M 1,819.10M 1,798.90M 1,696.70M 1,557.00M 1,565.90M 1,505.30M 1,493.90M 1,347.20M 1,338.30M 1,262.90M 1,141.70M 1,007.40M 1,027.90M 1,077.90M 1,272.70M 1,385.60M 1,527.30M
Goodwill 8,529.10M 8,899.20M 8,899.20M 8,939.60M 5,470.00M 5,202.90M 6,034.40M 5,981.50M 3,445.20M 3,447.20M 3,424.40M 3,215.90M 3,212.60M 3,453.50M 3,411.20M 3,786.60M 3,044.90M 2,986.90M 2,793.20M 2,870.00M 1,825.40M 1,859.10M 1,938.60M 2,146.20M 2,336.10M 2,655.80M
Intangible Assets 2,131.10M 2,532.70M 2,532.70M 1,288.10M 1,565.80M 1,951.00M 2,284.60M 2,810.40M 769.30M 877.50M 958.80M 862.90M 946.20M 1,129.60M 1,172.00M 743.50M 832.90M 925.30M 1,129.30M 1,201.40M 432.40M 348.20M 223.80M 206.30M 173.60M 153.30M
Long-Term Investments 1,743.40M 2,371.70M 2,371.70M 2,585.70M 1,516.00M 1,635.10M 1,525.70M 1,974.00M 1,180.20M 1,167.10M 1,187.60M 1,681.90M 1,683.70M 412.80M 117.00M 89.60M 939.60M 980.40M 1,104.20M 1,040.00M 200.10M 201.30M 322.10M 58.00M 81.60M 77.70M
Tax Assets 0.00M 1,366.60M 1,366.60M 1,183.30M 1,043.00M 949.20M 966.80M 1,002.10M 891.70M 858.10M 975.80M 967.00M 947.60M 826.40M 906.70M 955.00M 954.70M 678.00M 433.50M 461.00M 440.80M 454.10M 482.00M 291.10M 350.90M 333.00M
Other Non-Current Assets 1,743.50M 205.00M 205.00M 0.00M 333.30M 0.00M -0.10M -253.70M 436.60M 342.00M 277.90M 42.50M 47.80M 285.20M 622.80M 692.30M 96.20M 95.20M 79.50M 103.50M 258.10M 333.50M 194.40M 301.70M 351.90M 367.10M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 17,854.30M 19,090.70M 19,090.70M 17,592.80M 13,407.00M 13,137.20M 14,381.30M 15,344.70M 8,531.90M 8,511.00M 8,623.40M 8,466.90M 8,394.90M 7,673.40M 7,735.00M 7,760.90M 7,215.50M 7,004.10M 6,802.60M 6,817.60M 4,164.20M 4,224.10M 4,238.80M 4,276.00M 4,679.70M 5,114.20M
Total Assets 38,887.00M 39,989.80M 39,989.80M 37,745.50M 33,778.60M 32,429.80M 31,373.90M 30,673.90M 24,853.50M 22,533.10M 22,076.30M 21,177.20M 19,664.70M 19,392.20M 21,332.40M 20,178.90M 18,376.70M 17,391.20M 16,961.10M 16,706.20M 13,687.50M 12,635.00M 12,636.10M 17,580.90M 17,802.70M 18,908.60M
Accounts Payable 8,078.00M 8,332.70M 3,885.00M 2,741.10M 2,507.60M 2,803.30M 2,215.10M 6,813.70M 3,510.40M 2,389.60M 5,172.90M 2,297.50M 3,250.10M 1,899.90M 4,836.60M 4,383.30M 3,534.20M 3,146.00M 3,200.40M 3,131.30M 2,951.20M 0.00M 4,420.60M 4,445.30M 4,215.90M 3,963.30M
Short-Term Debt 3,281.50M 3,272.50M 3,272.50M 2,499.40M 1,480.30M 1,319.00M 2,163.80M 1,740.90M 321.20M 707.30M 111.40M 698.70M 108.20M 457.20M 997.30M 437.10M 1,229.70M 523.30M 1,295.40M 320.10M 638.50M 455.50M 733.10M 0.00M 0.00M 0.00M
Tax Payables 0.00M 1,980.50M 1,980.50M 220.50M 1,576.30M 1,380.30M 149.30M 1,307.10M 1,089.10M 752.60M 738.00M 761.20M 711.70M 731.90M 814.10M 58.50M 37.50M 92.20M 88.90M 73.80M 44.00M 26.20M 507.20M 0.00M 0.00M 0.00M
Deferred Revenue 0.00M 11,541.10M 11,541.10M 9,788.60M 8,313.60M 7,068.50M 6,453.50M 6,414.90M 6,108.20M 10,421.00M 10,597.70M 10,080.20M 9,214.50M 10,502.90M 10,730.60M 6,460.00M 5,270.70M 5,344.90M 5,186.80M 4,937.60M -4,866.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 14,182.70M 2,317.40M 4,104.90M 5,734.00M 5,269.90M 5,212.70M 3,398.10M 255.70M 3,059.40M 2,639.20M 2,032.20M 7,716.60M 6,835.50M 6,319.20M 8,751.10M 8,617.50M 7,340.20M 7,137.40M 6,904.50M 7,420.10M 6,374.00M 8,719.90M 7,762.40M 8,299.60M 7,873.10M 8,381.50M
Total Current Liabilities 25,542.20M 27,444.20M 24,784.00M 20,983.60M 19,147.70M 17,783.80M 14,379.80M 16,532.30M 14,088.30M 16,909.70M 18,652.20M 21,554.20M 20,120.00M 19,911.10M 26,129.70M 19,956.40M 17,412.30M 16,243.80M 16,676.00M 15,882.90M 5,141.70M 9,201.60M 13,423.30M 12,744.90M 12,089.00M 12,344.80M
Long-Term Debt 2,663.10M 3,386.90M 3,386.90M 4,480.30M 2,693.60M 3,294.60M 3,797.10M 2,809.10M 2,408.50M 953.50M 1,433.70M 837.60M 1,467.80M 1,539.00M 850.60M 0.00M 0.00M 0.00M 0.00M 1,492.10M 1,610.20M 1,449.40M 1,431.60M 1,978.90M 2,144.30M 3,150.30M
Capital Lease Obligations 1,369.60M 1,392.30M 1,392.30M 1,240.00M 1,297.50M 1,307.80M 1,637.50M 1,497.30M 0.00M 0.00M 0.00M 0.00M 0.00M 0.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 555.50M 634.80M 634.80M 319.40M 396.60M 491.40M 657.60M 783.30M 216.40M 237.60M 294.60M 257.90M 265.30M 333.60M 383.40M 184.30M 194.90M 258.60M 268.60M 325.10M 39.10M 30.10M 12.80M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 1,590.20M 1,589.30M 1,589.30M 1,552.50M 1,908.70M 2,454.60M 3,417.90M 2,959.70M 2,339.80M 2,676.90M 3,080.40M 2,318.90M 2,556.80M 1,922.20M 904.90M 2,378.00M 2,321.50M 2,508.30M 1,608.80M 1.20M 7.50M 41.00M 1,109.00M 1,569.00M 1,807.30M 1,682.60M
Total Non-Current Liabilities 6,178.40M 7,003.30M 7,003.30M 7,592.20M 6,296.40M 7,548.40M 9,510.10M 8,049.40M 4,964.70M 3,868.00M 4,808.70M 3,414.40M 4,289.90M 3,794.90M 2,138.90M 2,562.30M 2,516.40M 2,766.90M 1,877.40M 1,818.40M 1,656.80M 1,520.50M 2,553.40M 3,547.90M 3,951.60M 4,832.90M
Total Liabilities 31,720.60M 34,447.50M 31,787.30M 28,575.80M 25,444.10M 25,332.20M 23,889.90M 24,581.70M 19,053.00M 20,777.70M 23,460.90M 24,968.60M 24,409.90M 23,706.00M 28,268.60M 22,518.70M 19,928.70M 19,010.70M 18,553.40M 17,701.30M 6,798.50M 10,722.10M 15,976.70M 16,292.80M 16,040.60M 17,177.70M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 1,804.60M 2,388.40M 0.00M 0.00M 273.80M 192.30M 348.30M 361.80M 251.60M 183.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 617.80M 617.80M 617.80M 630.60M 640.20M 640.20M 5,436.70M 5,686.40M 639.30M 638.00M 636.60M 632.90M 623.50M 4,234.30M 4,699.50M 4,295.80M 3,932.70M 4,168.30M 4,497.40M 4,149.90M 2,407.50M 2,150.60M 515.60M 515.60M 515.60M 503.20M
Retained Earnings 4,151.00M 4,414.40M 4,414.40M 3,372.30M 3,222.30M 2,122.60M 3,511.00M 2,687.80M 1,333.30M 886.00M 376.50M 404.60M -431.50M -331.70M -687.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -1,321.20M 0.00M 0.00M 0.00M
Accumulated OCI -673.50M -557.10M -557.10M 0.00M -1,804.60M -2,388.40M -3,045.60M -1,896.40M -273.80M -192.30M -348.30M -361.80M -251.60M -183.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest 28.30M 42.90M 42.90M 139.00M 207.60M 244.40M 195.00M 232.90M 224.90M 229.60M 225.90M 295.90M 298.50M 29.90M 10.20M 9.70M 9.50M 10.20M 2.90M 3.30M 7.50M 41.00M 52.20M 43.40M 29.00M 27.70M
Total Shareholders’ Equity 4,095.30M 4,475.10M 4,475.10M 4,002.90M 3,862.50M 2,762.80M 5,902.10M 6,477.80M 1,972.60M 1,524.00M 1,013.10M 1,037.50M 192.00M 3,902.60M 4,011.70M 4,295.80M 3,932.70M 4,168.30M 4,497.40M 4,149.90M 2,407.50M 2,150.60M -805.60M 515.60M 515.60M 503.20M
Total Equity 4,123.60M 4,518.00M 4,518.00M 4,141.90M 4,070.10M 3,007.20M 6,097.10M 6,710.70M 2,197.50M 1,753.60M 1,239.00M 1,333.40M 490.50M 3,932.50M 4,021.90M 4,305.50M 3,942.20M 4,178.50M 4,500.30M 4,153.20M 2,415.00M 2,191.60M -753.40M 559.00M 544.60M 530.90M
Total Liabilities & Equity 35,844.20M 38,965.50M 36,305.30M 32,717.70M 29,514.20M 28,339.40M 29,987.00M 31,292.40M 21,250.50M 22,531.30M 24,699.90M 26,302.00M 24,900.40M 27,638.50M 32,290.50M 26,824.20M 23,870.90M 23,189.20M 23,053.70M 21,854.50M 9,213.50M 12,913.70M 15,223.30M 16,851.80M 16,585.20M 17,708.60M
Tangible Assets 28,226.80M 28,557.90M 28,557.90M 27,517.80M 26,742.80M 25,275.90M 23,054.90M 21,882.00M 20,639.00M 18,208.40M 17,693.10M 17,098.40M 15,505.90M 14,809.10M 16,749.20M 15,648.80M 14,498.90M 13,479.00M 13,038.60M 12,634.80M 11,429.70M 10,427.70M 10,473.70M 15,228.40M 15,293.00M 16,099.50M
Tangible Equity -6,536.60M -6,913.90M -6,913.90M -6,085.80M -2,965.70M -4,146.70M -2,221.90M -2,081.20M -2,017.00M -2,571.10M -3,144.20M -2,745.40M -3,668.30M -650.60M -561.30M -224.60M 64.40M 266.30M 577.80M 81.80M 157.20M -15.70M -2,915.80M -1,793.50M -1,965.10M -2,278.20M
Tangible Book Value -6,536.60M -6,913.90M -6,913.90M -6,085.80M -2,965.70M -4,146.70M -2,221.90M -2,081.20M -2,017.00M -2,571.10M -3,144.20M -2,745.40M -3,668.30M -650.60M -561.30M -224.60M 64.40M 266.30M 577.80M 81.80M 157.20M -15.70M -2,915.80M -1,793.50M -1,965.10M -2,278.20M
Total Investments 1,793.20M 2,372.60M 2,372.60M 2,686.30M 1,716.50M 1,635.10M 1,525.70M 1,974.00M 1,430.20M 1,492.10M 1,437.60M 1,688.20M 1,687.40M 556.40M 504.00M 519.80M 947.50M 984.80M 1,126.60M 1,068.70M 200.10M 201.30M 328.10M 61.50M 81.70M 77.80M
Net Debt 2,107.50M 1,892.30M 1,892.30M 2,999.80M -925.70M -435.80M 957.00M 1,618.60M -2,907.80M -2,621.90M -2,071.80M -1,913.90M -905.40M -1,027.60M -670.40M -1,486.00M -1,520.80M -1,436.80M -204.40M 348.10M -84.40M 585.00M 983.10M 943.20M 1,226.50M 1,470.20M

Capital Metrics

Metric MRQ MRQ-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 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31
Working Capital -4,509.5M -4,757.6M -4,757.6M -3,031.6M 270.9M 1,135.7M 250.8M -1,613.2M 2,357.3M 912.5M 756.7M -110.7M -35.1M 49.5M -1,009.7M -1,068.7M -1,017.8M -483.4M -973.4M -66.5M 849.8M 461.7M -84.1M 1,329.7M 1,439.8M 1,892.4M
Total Capital 14,452.3M 15,338.6M 15,338.6M 15,263.6M 12,645.3M 12,401.5M 12,713.3M 11,723.9M 8,429.3M 6,986.7M 6,185.2M 6,182.2M 5,347.4M 5,907.2M 6,424.1M 4,557.3M 4,901.5M 4,266.9M 5,244.3M 5,717.5M 4,527.9M 3,769.5M 3,564.0M 3,949.9M 4,254.2M 5,268.6M
Capital Employed 13,344.8M 14,333.1M 14,333.1M 14,561.2M 13,677.9M 14,272.9M 14,632.1M 13,731.5M 10,889.2M 9,423.5M 9,380.1M 8,356.2M 8,359.8M 7,722.9M 6,725.3M 6,692.2M 6,197.7M 6,520.7M 5,829.2M 6,751.1M 5,014.0M 4,685.8M 4,154.7M 5,605.7M 6,119.5M 7,006.6M
Invested Capital 10,615.2M 10,571.5M 10,571.5M 11,283.7M 7,545.7M 7,352.1M 7,709.4M 8,792.5M 2,791.8M 2,704.0M 2,568.3M 2,732.0M 2,866.0M 2,883.4M 3,905.8M 2,634.2M 2,151.0M 2,306.8M 3,744.5M 4,253.4M 2,194.8M 2,449.6M 2,382.4M 2,914.2M 3,336.4M 3,588.5M

Cash Flow Statement

Metric 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 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31
Net Income 2,391.50M 2,105.95M 1,007.40M 949.10M 1,199.91M 1,016.80M 491.90M 1,146.40M 1,124.76M 815.60M 996.11M 830.95M 864.49M 789.64M 706.31M 511.50M -107.60M -201.60M 560.40M 888.70M 391.10M 343.10M 467.70M 112.40M 111.10M -366.20M
Depreciation & Amortization 2,234.20M 1,837.69M 1,155.40M 1,045.10M 1,113.50M 1,062.60M 1,178.00M 1,112.50M 536.95M 562.81M 467.11M 489.71M 488.53M 453.63M 556.00M 415.10M 444.60M 420.80M 433.00M 423.90M 295.10M 274.00M 286.10M 281.80M 307.40M 323.70M
Deferred Income Tax -343.70M -280.50M 0.00M 0.00M -124.10M -156.40M -92.70M -96.00M 699.82M 733.09M 576.24M 752.45M 99.63M -167.05M -73.26M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 53.30M 79.52M 0.00M 0.00M 57.10M 39.40M 15.30M 47.90M 53.90M 48.80M 36.90M 32.90M 15.00M 14.70M 12.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -782.90M -278.17M 26.10M 172.70M -901.27M 776.10M -420.30M -341.30M -1,076.87M -17.40M -687.82M -549.12M -424.14M -26.85M 116.69M -389.50M 461.30M 924.60M -44.50M 107.00M -24.00M -133.70M -342.50M 50.40M -294.20M 142.50M
Accounts Receivable -1,991.10M -1,519.47M -1,231.80M -967.00M -292.11M -1,057.60M 182.60M -321.40M -977.55M 384.88M -535.21M -385.88M -160.26M 109.21M 81.48M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -1,320.60M -1,239.80M -602.40M -818.70M -609.17M 65.80M 149.40M -219.40M -99.32M -402.28M -152.62M -163.24M -263.87M -136.06M 35.20M -11.30M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 739.50M 1,009.30M 360.00M 713.70M 524.10M 364.00M -788.20M -4.50M 708.60M 254.40M 310.70M 189.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital 1,755.40M 1,471.80M 1,670.50M 1,244.70M -524.10M 1,403.90M 35.90M 204.00M -708.60M -254.40M -310.70M -189.10M -16.50M -95.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Cash Items 2,107.90M 5,750.15M 448.90M -570.50M 1,714.10M -31.80M 173.40M -99.30M -94.60M -97.10M 17.70M 34.30M 12.70M -8.40M 22.10M 40.10M -275.50M 11.20M -128.10M -434.70M 91.40M 126.20M -52.70M 192.20M 181.50M 567.00M
Net Cash from Operating Activities 4,467.80M 4,699.34M 2,637.80M 1,596.40M 3,063.28M 2,706.70M 1,345.60M 1,770.20M 1,251.80M 2,055.55M 1,408.17M 1,594.03M 1,059.37M 1,061.21M 1,344.72M 577.20M 522.80M 1,155.00M 820.80M 984.90M 753.60M 609.60M 358.60M 636.80M 305.80M 667.00M
Capital Expenditures (PPE) -1,288.00M -946.82M -623.10M -625.60M -502.73M -450.80M -395.40M -503.30M -370.95M -447.51M -451.11M -438.23M -486.96M -452.80M -494.30M -264.10M -315.20M 9.90M 0.00M 0.00M -412.10M -390.80M -310.60M -375.50M -417.60M -535.60M
Acquisitions (Net) -4,543.70M -426.90M 357.30M -3,426.30M -388.90M -52.50M -1.40M -4,344.10M -61.10M -79.50M -94.30M 36.60M -373.80M -48.50M 142.00M -99.20M 87.40M -180.00M -90.90M -668.40M 29.50M -23.00M 47.30M 25.50M 60.90M 56.00M
Purchases of Investments 396.10M -733.20M 0.00M 0.00M -217.20M -14.20M -24.60M -11.10M -18.80M -26.70M -262.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -175.90M -118.90M -696.90M -61.50M -84.30M -14.60M -67.90M -38.30M -583.20M
Sales / Maturities of Investments -138.30M 31.40M 0.00M 0.00M 217.20M 19.20M 23.50M 236.30M 18.80M 26.70M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 90.70M 24.00M 0.00M 0.00M 365.90M 248.70M 86.30M 192.10M 117.90M 568.00M
Other Investing Activities 1,659.90M -270.23M 203.00M -181.30M -319.96M 4.90M 11.50M 7.00M 32.46M -175.38M -64.40M -14.55M 82.93M 51.67M 71.73M -73.50M -308.80M -243.00M -432.00M 162.90M 9.80M 61.50M 17.70M 48.30M 198.40M 466.90M
Net Cash from Investing Activities -3,914.00M -2,345.75M -62.80M -4,233.20M -1,211.59M -493.40M -386.40M -4,615.20M -399.59M -729.09M -871.91M -416.18M -777.82M -449.63M -280.57M -436.80M -218.10M -565.00M -641.80M -1,202.40M -68.40M -187.90M -173.90M -177.50M -78.70M -27.90M
Net Debt Issuance 894.80M -812.70M -996.90M 2,746.00M -696.20M -1,711.90M 1,422.50M 632.70M 1,060.50M 74.10M -2.60M 37.90M -48.10M 141.00M -84.20M -813.50M 511.00M 21.30M 228.40M -476.40M 470.10M -305.90M 45.50M -57.60M -959.60M -245.70M
Long-Term Debt Issuance 1,675.40M -812.70M -996.90M 2,746.00M -696.20M -1,711.90M 1,422.50M 632.70M 1,060.50M 74.10M -2.60M 37.90M -48.10M 141.00M -84.20M -813.50M 511.00M 21.30M 228.40M -476.40M 470.10M -305.90M 45.50M -57.60M -959.60M -245.70M
Short-Term Debt Issuance -780.60M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -553.10M -587.00M -275.40M -491.00M -350.70M -26.70M -8.90M -23.00M -19.40M -38.30M 4.90M 125.40M 78.20M 90.50M 18.00M -7.00M 1.20M 21.60M -44.50M 43.30M 5.20M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 45.70M 125.40M 78.20M 97.30M 18.00M 0.90M 5.70M 21.60M 0.00M 43.30M 5.20M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -553.10M -587.00M -275.40M -491.00M -350.70M -26.70M -8.90M -23.00M -19.40M -38.30M -40.80M 0.00M 0.00M -6.80M 0.00M -7.90M -4.50M 0.00M -44.50M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -1,459.60M -1,103.90M -708.40M -633.70M -563.40M -417.00M -85.10M -463.10M -382.10M -348.90M -296.80M -234.00M -242.80M -180.70M -155.40M -64.00M -97.70M -204.70M -195.30M -169.00M -140.40M 0.00M -121.70M 0.00M 0.00M 0.00M
Common Dividends Paid -1,459.60M -1,158.80M -708.40M -633.70M -563.40M -417.00M -85.10M -463.10M -382.10M -348.90M -296.80M -234.00M -242.80M -180.70M -155.40M -64.00M -97.70M -204.70M -195.30M -169.00M -140.40M -133.70M -121.70M 0.00M 0.00M 0.00M
Preferred Dividends Paid 0.00M 54.90M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -12.20M 65.72M -21.60M -30.20M -41.70M -13.50M -12.10M -18.30M -41.80M -68.10M -48.30M -51.30M -130.90M -31.90M 0.00M -3.20M 0.00M 0.00M 0.00M 0.00M 0.00M 118.60M 29.30M -237.40M 31.00M -56.40M
Net Cash from Financing Activities -1,130.10M -2,437.88M -2,002.30M 1,591.10M -1,768.93M -2,169.10M 1,197.30M 128.30M 707.07M -457.35M -360.80M -132.50M -415.91M 26.03M -292.17M -887.70M 414.50M -161.80M -11.40M -602.10M 334.90M -321.00M -46.90M -295.00M -928.60M -302.10M
Effect of FX on Cash 45.10M -19.78M -12.90M -43.70M 2.89M 41.80M -84.00M 10.60M -7.22M -70.31M -115.76M 6.84M 34.74M -36.63M 12.79M -80.10M 71.20M 32.10M -131.90M -49.40M -6.90M 37.60M -2.40M -49.10M -61.50M 25.50M
Net Change in Cash -192.40M -3,910.57M 559.80M -1,089.10M -265.90M 212.50M 2,072.50M -2,706.10M 1,320.14M 1,331.35M 59.70M 743.59M -526.97M 210.21M 1,397.22M -827.40M 790.40M 460.30M 35.70M -869.00M 1,013.20M 138.30M 135.40M 117.90M -762.30M -492.10M
Cash at Beginning of Period 16,756.40M 18,180.20M 4,207.30M 5,296.40M 5,937.17M 5,003.90M 2,931.40M 5,637.50M 5,138.21M 3,806.86M 3,747.16M 3,003.57M 3,530.54M 3,320.32M 1,923.10M 2,750.50M 1,960.10M 1,499.80M 1,464.10M 2,333.10M 1,319.90M 1,181.60M 1,046.20M 917.80M 1,680.10M 2,172.20M
Cash at End of Period 16,387.50M 14,269.63M 4,767.10M 4,207.30M 5,671.27M 5,216.40M 5,003.90M 2,931.40M 6,458.36M 5,138.21M 3,806.86M 3,747.16M 3,003.57M 3,530.54M 3,320.32M 1,923.10M 2,750.50M 1,960.10M 1,499.80M 1,464.10M 2,333.10M 1,319.90M 1,181.60M 1,035.70M 917.80M 1,680.10M
Operating Cash Flow 4,467.80M 4,699.34M 2,637.80M 1,596.40M 3,063.28M 2,706.70M 1,345.60M 1,770.20M 1,251.80M 2,055.55M 1,408.17M 1,594.03M 1,059.37M 1,061.21M 1,344.72M 577.20M 522.80M 1,155.00M 820.80M 984.90M 753.60M 609.60M 358.60M 636.80M 305.80M 667.00M
Capital Expenditure -1,252.20M -946.82M -623.10M -625.60M -502.73M -450.80M -395.40M -503.30M -370.95M -447.51M -451.11M -438.23M -486.96M -452.80M -494.30M -264.10M -315.20M 9.90M 0.00M 0.00M -412.10M -390.80M -310.60M -375.50M -417.60M -535.60M
Free Cash Flow 3,215.60M 3,752.52M 2,014.70M 970.80M 2,560.55M 2,255.90M 950.20M 1,266.90M 880.86M 1,608.04M 957.06M 1,155.80M 572.41M 608.41M 850.42M 313.10M 207.60M 1,164.90M 820.80M 984.90M 341.50M 218.80M 48.00M 261.30M -111.80M 131.40M

Free Cash Flow

Metric 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 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31 2003-12-31 2002-12-31 2001-12-31
EBITDA 5,656.60M 4,937.20M 2,972.40M 2,698.80M 2,501.70M 2,297.90M 2,117.40M 2,518.20M 2,038.90M 1,956.00M 1,797.10M 1,663.30M 1,556.30M 1,579.80M 1,526.00M 1,324.70M 483.10M 673.10M 1,327.70M 1,313.80M 856.60M 2,839.60M 1,806.60M 782.20M 757.60M 808.80M
(-) Tax Adjustment 1,407.65M 917.11M 623.16M 576.42M 418.06M 291.46M 328.41M 523.65M 477.33M 448.86M 361.63M 354.21M 341.72M 462.10M 405.39M 296.19M 169.09M 235.59M 225.74M 205.99M 176.09M 588.55M 490.18M 152.81M 265.16M 0.00M
(-) Change In Working Capital -782.90M -278.17M 26.10M 172.70M -901.27M 776.10M -420.30M -341.30M -1,076.87M -17.40M -687.82M -549.12M -424.14M -26.85M 116.69M -389.50M 461.30M 924.60M -44.50M 107.00M -24.00M -133.70M -342.50M 50.40M -294.20M 142.50M
(-) Capital Expenditure -1,252.20M -946.82M -623.10M -625.60M -502.73M -450.80M -395.40M -503.30M -370.95M -447.51M -451.11M -438.23M -486.96M -452.80M -494.30M -264.10M -315.20M 9.90M 0.00M 0.00M -412.10M -390.80M -310.60M -375.50M -417.60M -535.60M
Unlevered Free Cash Flow 3,779.65M 3,351.44M 1,700.04M 1,324.08M 2,482.18M 779.54M 1,813.89M 1,832.55M 2,267.49M 1,077.02M 1,672.18M 1,419.98M 1,151.76M 691.76M 509.63M 1,153.91M -462.49M -496.99M 1,146.46M 1,000.81M 292.41M 1,993.95M 1,348.32M 203.49M 369.04M 130.70M
(-) Net Interest Income After Taxes -157.74M -42.67M -131.04M -179.62M -31.73M -23.58M -79.93M -25.35M -38.14M -2.31M -56.95M -44.31M -68.60M -52.07M -114.63M -36.88M -37.25M -42.64M -42.99M -38.03M 52.51M -65.64M -70.75M -87.87M -105.89M -199.20M
Net Debt Issuance 894.80M -812.70M -996.90M 2,746.00M -696.20M -1,711.90M 1,422.50M 632.70M 1,060.50M 74.10M -2.60M 37.90M -48.10M 141.00M -84.20M -813.50M 511.00M 21.30M 228.40M -476.40M 470.10M -305.90M 45.50M -57.60M -959.60M -245.70M
Levered Free Cash Flow 4,832.19M 2,581.40M 834.18M 4,249.70M 1,817.71M -908.78M 3,316.32M 2,490.60M 3,366.14M 1,153.44M 1,726.54M 1,502.19M 1,172.26M 884.83M 540.06M 377.29M 85.76M -433.05M 1,417.85M 562.44M 710.00M 1,753.69M 1,464.57M 233.76M -484.68M 84.20M