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Page: Company Financials

M&T Bank Corporation

Ticker: 0JW2.L | Industry: Banks - Regional | Sector: Financial Services
$214.96 -3.09 (-1.42%)
As of: 2026-01-23

Master Data Export

Enterprise Value

Metric MRQ MRQ-1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013
Stock Price 195.46 195.61 189.17 164.79 126.73 163.08 151.44 108.02 164.24 164.99 145.00 145.00 145.00 145.00 145.00
Market Capitalization 31,918.23M 32,877.17M 31,912.88M 27,437.02M 21,085.83M 26,437.32M 19,486.95M 13,903.08M 22,085.44M 23,832.27M 22,127.05M 22,809.84M 19,936.11M 19,115.81M 18,790.17M
(-) Cash & Equivalents 18,701.00M 0.00M 6,936.67M 1,899.50M 1,791.50M 1,781.45M 1,371.94M 1,423.75M 1,282.06M 1,223.70M 1,185.54M 1,130.13M 1,167.72M 1,505.49M 1,609.42M
(+) Total Debt 14,987.00M 14,451.00M 13,835.67M 15,214.50M 14,467.70M 5,059.10M 3,664.16M 5,408.45M 7,052.94M 8,478.19M 7,939.09M 9,541.33M 10,303.30M 7,927.87M 3,838.15M
Enterprise Value 28,204.23M 47,328.17M 38,811.88M 40,752.02M 33,762.04M 29,714.97M 21,779.18M 17,887.79M 27,856.32M 31,086.75M 28,880.59M 31,221.03M 29,071.69M 25,538.18M 21,018.90M

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
Revenue 10,173M 12,152M 13,405M 8,998M 8,432M 5,977M 6,101M 6,821M 6,416M 6,004M 5,645M 4,519M 4,332M 4,353M 4,062M
Cost of Revenue 125M -2,889M 13,135M -503M 770M -89M 946M 853M 620M 540M 539M 0M 0M 0M 0M
Gross Profit 10,048M 15,042M 270M 9,501M 7,662M 6,067M 5,155M 5,968M 5,796M 5,464M 5,106M 4,519M 4,332M 4,353M 4,062M
Gross Profit Margin 98.8% 123.8% 2.0% 105.6% 90.9% 101.5% 84.5% 87.5% 90.3% 91.0% 90.5% 100.0% 100.0% 100.0% 100.0%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 4,274M 4,220M 4,614M 4,475M 4,041M 3,069M 2,633M 2,588M 2,371M 2,234M 2,193M 2,031M 1,911M 1,712M 1,661M
Operating Expenses 4,974M 4,552M 4,614M 4,475M 4,041M 3,069M 2,633M 1,172M 1,102M 1,196M 1,042M 2,844M 2,689M 2,588M 2,509M
Operating Income (EBIT) 5,074M 10,490M -4,344M 5,026M 3,621M 2,998M 2,522M 4,796M 4,694M 4,268M 4,064M 1,675M 1,642M 1,766M 1,553M
Operating Income Margin 49.9% 86.3% -32.4% 55.9% 42.9% 50.2% 41.3% 70.3% 73.2% 71.1% 72.0% 37.1% 37.9% 40.6% 38.2%
Interest Income 2,680M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 919M 181M 0M 692M 131M 62M 109M 264M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income 1,761M -181M 0M -692M -131M -62M -109M -264M 0M 0M 0M 0M 0M 0M 0M
Unusual Items -3,232M -7,255M 7,473M -882M -1,018M -573M -725M -2,090M -2,262M -2,002M -2,062M 0M 0M 0M 0M
EBT Excluding Unusual Items 6,835M 10,308M -4,344M 4,334M 3,490M 2,936M 2,412M 4,532M 4,694M 4,268M 4,064M 1,675M 1,642M 1,766M 1,553M
Pre-Tax Income 3,603M 3,054M 3,129M 3,452M 2,472M 2,363M 1,688M 2,442M 2,432M 2,266M 2,002M 1,675M 1,642M 1,766M 1,553M
Pre-Tax Margin 35.4% 25.1% 23.3% 38.4% 29.3% 39.5% 27.7% 35.8% 37.9% 37.7% 35.5% 37.1% 37.9% 40.6% 38.2%
Income Tax Expense 830M 664M 541M 711M 480M 504M 335M 550M 538M 859M 698M 595M 576M 627M 523M
Net Income 2,771M 2,388M 2,583M 2,636M 1,988M 1,850M 1,347M 1,919M 1,909M 1,400M 1,305M 988M 979M 1,062M 953M
Net Income Margin 27.2% 19.7% 19.3% 29.3% 23.6% 30.9% 22.1% 28.1% 29.7% 23.3% 23.1% 21.9% 22.6% 24.4% 23.5%
Depreciation & Amortization 10M 288M 0M -3,996M 338M 234M 235M 229M 129M 141M 150M -1,850M -1,732M -1,894M -1,724M
EBITDA 5,084M 10,778M -4,344M 1,030M 3,958M 3,232M 2,757M 5,025M 4,824M 4,409M 4,213M -176M -89M -129M -172M
EBITDA Margin 50.0% 88.7% -32.4% 11.4% 46.9% 54.1% 45.2% 73.7% 75.2% 73.4% 74.6% -3.9% -2.1% -3.0% -4.2%
NOPAT 3,905M 8,208M -3,593M 3,991M 2,917M 2,358M 2,022M 3,716M 3,656M 2,651M 2,647M 1,080M 1,066M 1,138M 1,029M
NOPAT Margin 38.4% 67.5% -26.8% 44.4% 34.6% 39.5% 33.1% 54.5% 57.0% 44.1% 46.9% 23.9% 24.6% 26.2% 25.3%
Owner's Earnings 2,696M 2,458M 2,367M -1,616M 2,111M 1,738M 656M 1,500M 1,940M 1,462M 1,347M -944M -826M -962M -862M
Owner's Earnings Margin 26.5% 20.2% 17.7% -18.0% 25.0% 29.1% 10.7% 22.0% 30.2% 24.4% 23.9% -20.9% -19.1% -22.1% -21.2%
EPS (Basic) 16.33 13.57 14.71 15.85 11.59 13.81 9.94 13.76 13.25 9.20 8.32 7.18 7.42 8.20 7.54
EPS (Diluted) 16.82 14.28 15.44 15.78 12.12 14.36 10.47 14.27 13.24 9.18 8.29 7.18 7.42 8.20 7.54
Shares (Basic) 168M 167M 166M 166M 163M 129M 129M 134M 144M 152M 157M 138M 132M 130M 126M
Shares (Diluted) 165M 167M 167M 167M 164M 129M 129M 134M 144M 153M 157M 138M 132M 130M 126M

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
Cash & Cash Equivalents 18,701.00M 0.00M 1,909.00M 1,731.00M 1,520.00M 1,337.58M 1,552.74M 770.31M 921.44M 741.49M 725.72M 703.45M 817.78M 1,077.34M 1,381.83M
Short-Term Investments 19,251.00M 0.00M -1,909.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 37,952.00M 0.00M 0.00M 1,731.00M 1,520.00M 1,337.58M 1,552.74M 770.31M 921.44M 741.49M 725.72M 703.45M 817.78M 1,077.34M 1,381.83M
Net Receivables 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
Inventory 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 Current Assets 0.00M 0.00M 20,990.00M 29,029.00M 25,797.06M 42,743.50M 24,665.39M 8,388.28M 9,952.22M 6,632.70M 6,645.05M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 37,952.00M 0.00M 20,990.00M 30,760.00M 27,317.06M 44,081.07M 26,218.13M 9,158.59M 10,873.66M 7,374.19M 7,370.77M 703.45M 817.78M 1,077.34M 1,381.83M
Property, Plant & Equipment 1,621.00M 0.00M 1,705.00M 1,739.00M 1,653.63M 1,144.77M 1,161.56M 1,140.92M 647.41M 646.45M 675.26M 666.68M 612.98M 633.52M 594.65M
Goodwill 8,465.00M 8,465.00M 8,465.00M 8,465.00M 8,490.09M 4,593.11M 4,593.11M 4,593.11M 4,593.11M 4,593.11M 4,593.11M 4,593.11M 3,524.63M 3,524.63M 3,524.63M
Intangible Assets 74.00M 84.00M 94.00M 797.00M 458.00M 353.66M 348.80M 397.08M 282.24M 300.64M 318.77M 342.99M 221.94M 278.65M 284.24M
Long-Term Investments 152,426.00M 0.00M 0.00M 29,274.00M 26,197.17M 42,307.21M 24,126.39M 7,611.14M 8,747.57M 5,529.63M 5,544.11M 0.00M 0.00M 0.00M 0.00M
Tax Assets 0.00M 0.00M 0.00M 29,029.00M 128,715.78M 55,921.38M 79,532.62M 91,367.33M 91,143.73M 95,913.33M 100,432.02M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 10,739.00M 203,035.00M 197,841.00M 108,200.00M 7,898.21M 6,705.96M 6,620.50M 5,604.58M 4,731.12M 4,977.63M 5,240.88M 116,481.64M 91,508.20M 79,648.25M -4,403.52M
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 77,223.46M
Total Non-Current Assets 173,325.00M 211,584.00M 208,105.00M 177,504.00M 173,412.87M 111,026.09M 116,382.97M 110,714.17M 110,145.18M 111,960.79M 116,804.15M 122,084.43M 95,867.75M 84,085.05M 77,223.46M
Total Assets 211,277.00M 211,584.00M 229,095.00M 208,264.00M 200,729.93M 155,107.16M 142,601.11M 119,872.76M 121,018.84M 119,334.97M 124,174.92M 122,787.88M 96,685.54M 85,162.39M 78,605.29M
Accounts Payable 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
Short-Term Debt 2,059.00M 2,071.00M 4,490.00M 6,005.00M 4,448.14M 1,053.33M 1,074.39M 2,337.42M 5,923.44M 175.10M 3,605.93M 0.00M 0.00M 0.00M 0.00M
Tax Payables 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
Deferred Revenue 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 Current Liabilities 163,426.00M -2,071.00M 60,454.00M 68,881.00M 72,900.58M 60,255.78M 48,341.89M 34,160.35M 33,246.70M 34,290.57M 33,190.20M 0.00M 0.00M 0.00M 0.00M
Total Current Liabilities 165,485.00M 0.00M 64,944.00M 74,886.00M 77,348.72M 61,309.11M 49,416.28M 36,497.78M 39,170.13M 34,465.67M 36,796.13M 0.00M 0.00M 0.00M 0.00M
Long-Term Debt 12,928.00M 12,380.00M 9,335.00M 7,674.00M 3,220.41M 2,581.51M 3,532.22M 4,873.94M 6,919.86M 8,141.43M 6,051.35M 10,353.86M 9,006.96M 5,108.87M 4,356.46M
Capital Lease Obligations 0.00M 0.00M 0.00M 555.00M 560.14M 328.70M 361.88M 387.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 94,948.00M 91,174.43M 71,616.32M 71,825.72M 60,996.82M 56,909.87M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 4,136.00M 170,679.00M 166,473.00M 3,190.00M 3,060.15M 1,323.12M 1,400.66M 1,419.83M 40,669.21M 94,125.60M 100,836.06M 96,175.59M 75,279.31M 68,704.57M -4,356.46M
Total Non-Current Liabilities 17,064.00M 183,059.00M 175,808.00M 106,367.00M 98,015.13M 75,849.65M 77,120.47M 67,677.69M 104,498.94M 102,267.03M 106,887.41M 106,529.45M 84,286.27M 73,813.44M 0.00M
Total Liabilities 182,549.00M 183,059.00M 240,752.00M 181,253.00M 175,363.85M 137,158.76M 126,536.75M 104,175.47M 143,669.07M 136,732.69M 143,683.54M 106,529.45M 84,286.27M 73,813.44M 0.00M
Preferred Stock 2,394.00M 2,394.00M 2,394.00M 2,011.00M 2,010.60M 1,750.00M 1,250.00M 1,250.00M 1,231.50M 1,231.50M 1,231.50M 1,231.50M 1,231.50M 881.50M 872.50M
Common Stock 91.00M 26,131.00M 91.00M 90.00M 90.83M 81.08M 81.22M 81.44M 81.61M 81.76M 82.12M 79.78M 66.16M 65.26M 64.09M
Retained Earnings 20,392.00M 19,870.00M 19,079.00M 17,524.00M 15,753.98M 14,646.45M 13,444.43M 12,820.92M 11,516.67M 10,164.80M 9,222.49M 8,430.50M 7,807.12M 7,188.00M 6,477.28M
Accumulated OCI 277.00M 216.00M -164.00M -459.00M -790.03M -127.58M -63.03M -206.68M -420.08M -363.81M -294.64M -249.26M -178.39M -61.24M 0.00M
Minority Interest 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 Shareholders’ Equity 23,154.00M 48,611.00M 21,400.00M 19,166.00M 17,065.38M 16,349.95M 14,712.61M 13,945.67M 12,409.70M 11,114.25M 10,241.47M 9,492.52M 8,926.39M 8,073.52M 7,413.86M
Total Equity 23,154.00M 48,611.00M 21,400.00M 19,166.00M 17,065.38M 16,349.95M 14,712.61M 13,945.67M 12,409.70M 11,114.25M 10,241.47M 9,492.52M 8,926.39M 8,073.52M 7,413.86M
Total Liabilities & Equity 205,703.00M 231,670.00M 262,152.00M 200,419.00M 192,429.23M 153,508.71M 141,249.36M 118,121.14M 156,078.77M 147,846.94M 153,925.01M 116,021.97M 93,212.66M 81,886.96M 7,413.86M
Tangible Assets 202,738.00M 203,035.00M 220,536.00M 199,002.00M 191,781.84M 150,160.39M 137,659.20M 114,882.56M 116,143.49M 114,441.22M 119,263.04M 117,851.78M 92,938.97M 81,359.11M 74,796.42M
Tangible Equity 14,615.00M 40,062.00M 12,841.00M 9,904.00M 8,117.29M 11,403.19M 9,770.70M 8,955.48M 7,534.35M 6,220.49M 5,329.59M 4,556.42M 5,179.82M 4,270.24M 3,605.00M
Tangible Book Value 14,615.00M 40,062.00M 12,841.00M 9,904.00M 8,117.29M 11,403.19M 9,770.70M 8,955.48M 7,534.35M 6,220.49M 5,329.59M 4,556.42M 5,179.82M 4,270.24M 3,605.00M
Total Investments 171,677.00M 0.00M 0.00M 29,274.00M 26,197.17M 42,307.21M 24,126.39M 7,611.14M 8,747.57M 5,529.63M 5,544.11M 0.00M 0.00M 0.00M 0.00M
Net Debt -3,714.00M 14,451.00M 11,916.00M 11,948.00M 6,148.55M 2,297.26M 3,053.86M 6,441.05M 11,921.85M 7,575.04M 8,931.56M 9,650.40M 8,189.18M 4,031.53M 2,974.63M

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
Working Capital -127,533.0M 0.0M -43,954.0M -44,126.0M -50,031.7M -17,228.0M -23,198.1M -27,339.2M -29,217.9M -27,833.0M -30,151.1M 618.3M 754.4M 1,033.9M 1,327.5M
Total Capital 43,715.0M 42,976.0M 43,369.0M 41,191.0M 33,546.7M 21,866.9M 21,155.8M 23,315.1M 28,303.5M 24,567.3M 26,143.9M 26,527.1M 21,342.9M 16,414.4M 10,202.6M
Capital Employed 45,792.0M 211,584.0M 143,161.0M 133,378.0M 123,381.1M 93,798.1M 93,184.8M 83,375.0M 80,927.3M 84,127.8M 86,653.1M 122,702.7M 96,622.2M 85,119.0M 82,954.5M
Invested Capital 25,014.0M 42,976.0M 41,460.0M 39,460.0M 32,026.7M 20,529.4M 19,603.0M 22,544.8M 27,382.0M 23,825.9M 25,418.2M 25,823.7M 20,525.1M 15,337.1M 8,820.8M

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
Net Income 2,771.00M 2,387.38M 2,583.00M 2,741.00M 1,988.06M 1,849.89M 1,347.29M 1,918.95M 1,908.55M 1,400.24M 1,304.73M 1,079.67M 1,066.25M 1,138.48M 1,029.50M
Depreciation & Amortization 343.00M 474.00M 0.00M 497.00M 435.00M 324.00M 320.29M 229.43M 129.39M 140.95M 149.61M 175.35M 198.73M 203.74M 204.56M
Deferred Income Tax -16.00M -13.00M 0.00M -97.00M -29.99M 87.16M 0.00M 57.55M 15.86M 400.79M 174.01M -20.66M -80.16M -44.48M -43.10M
Stock-Based Compensation 0.00M 202.00M 0.00M 118.00M 111.00M 85.00M 80.00M 76.00M 66.00M 61.00M 65.00M 67.00M 65.00M 55.00M 57.00M
Change in Working Capital 435.00M -80.00M -22.00M 822.00M 578.00M -45.00M -1,093.08M 106.85M 6.27M -219.88M 47.98M -12.15M -404.14M -613.06M -13.90M
Accounts Receivable -40.00M -120.00M -176.00M 261.00M -123.00M 66.00M -132.25M 30.92M -7.16M -17.90M -12.28M -46.34M 15.16M -10.52M -13.90M
Inventory 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
Accounts Payable 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 Working Capital 475.00M 40.30M 154.00M 561.00M 701.00M -111.00M -960.83M 0.00M -137.26M 509.68M -605.39M 34.19M -419.30M -602.54M 0.00M
Other Non-Cash Items -22.00M 593.62M 1,234.00M -176.00M -507.02M 10.45M 1,238.22M 221.31M 451.19M 476.11M 508.40M 432.54M 173.21M 148.17M -734.08M
Net Cash from Operating Activities 3,511.00M 3,564.00M 3,795.00M 3,905.00M 2,575.05M 2,311.50M 1,892.72M 2,610.09M 2,252.49M 1,916.31M 1,885.51M 1,742.41M 1,099.04M 932.32M 499.98M
Capital Expenditures (PPE) -2,128.00M -218.79M -242.00M -256.00M -214.39M -346.35M -927.11M -648.13M -97.68M -78.97M -107.69M -81.94M -73.16M -129.56M -91.52M
Acquisitions (Net) 0.00M 191.06M 0.00M 0.00M 393.92M -12,695.45M -24,247.43M -1,749.99M 0.00M 0.00M 0.00M -1,932.60M 0.00M 0.00M 0.00M
Purchases of Investments -6,229.00M -12,264.09M -15,000.00M -4,765.00M -9,567.86M -2,309.77M -610.03M -1,885.90M -1,303.99M -1,809.25M -3,815.76M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments -101.00M 7,118.42M 8,007.00M 2,927.00M 3,780.61M 2,633.73M 2,593.15M 4,954.41M 3,126.71M 3,526.30M 3,076.55M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 7,866.00M 2,183.39M 6,500.00M -5,780.00M 24,199.15M -510.30M 67.41M -195.92M 355.16M 57.59M 448.10M 9,728.81M -11,637.21M -2,074.02M -3,969.34M
Net Cash from Investing Activities -592.00M -2,990.00M -735.00M -7,874.00M 18,591.43M -13,228.14M -23,124.01M 474.47M -1,572.69M 4,260.55M -1,422.87M 7,714.28M -11,710.37M -2,203.58M -4,060.86M
Net Debt Issuance 270.00M 1,574.00M 232.00M 5,972.00M 2,704.34M -856.03M -2,667.90M -5,889.51M 4,537.39M -1,275.83M -3,057.00M 0.00M 3,851.42M 0.00M 0.00M
Long-Term Debt Issuance 1,827.00M 4,285.00M 4,488.00M 4,211.00M 91.30M -856.03M -2,667.90M -5,889.51M 4,537.39M -1,275.83M -3,057.00M 0.00M 3,851.42M 0.00M 0.00M
Short-Term Debt Issuance -1,557.00M -2,711.00M -4,256.00M 1,761.00M 2,613.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -2,327.00M 185.00M -13.00M -594.00M -1,800.00M 495.00M -373.75M -1,335.29M -2,194.40M -1,205.91M -646.33M 0.00M 346.50M 0.00M 0.00M
Common Stock Issuance 0.00M 733.00M 733.00M 0.00M 0.00M 0.00M 0.00M 396.00M 3,653.48M 4,639.35M 495.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -2,327.00M -548.00M -746.00M -594.00M -1,800.00M 11,737.67M -373.75M -1,731.29M -2,194.40M -1,205.91M -1,141.33M 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
Net Dividends Paid -1,038.00M -1,010.23M -1,033.00M -968.00M -881.02M -648.46M -636.37M -619.59M -582.90M -530.14M -523.16M -456.29M -441.43M -418.80M -411.17M
Common Dividends Paid -925.00M -886.66M -895.00M -868.00M -784.09M -580.26M -568.11M -552.14M -510.38M -457.40M -441.89M -375.02M -371.20M -365.35M -357.72M
Preferred Dividends Paid -143.00M -123.57M -138.00M -100.00M -96.93M -68.20M -68.26M -67.45M -72.52M -72.73M -81.27M -81.27M -70.23M -53.45M -53.45M
Other Financing Activities -636.00M -875.58M -2,068.00M -230.00M -21,007.13M 11,710.96M 25,025.75M 4,590.69M -2,255.34M -3,064.65M 3,716.36M -9,005.72M 6,555.26M 1,376.37M 4,506.26M
Net Cash from Financing Activities -3,731.00M -126.80M -2,882.00M 4,180.00M -20,983.81M 10,701.47M 21,347.73M -3,253.70M -495.25M -6,076.52M -510.13M -9,462.01M 10,311.75M 957.57M 4,095.10M
Effect of FX on Cash 546.00M 0.00M 0.00M 0.00M -0.67M 0.42M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,452.40M
Net Change in Cash -266.00M 447.14M 178.00M 211.00M 182.00M -214.74M 116.44M -169.13M 184.55M 100.34M -47.49M -5.32M -299.58M -313.68M 1,986.62M
Cash at Beginning of Period 8,362.00M 6,972.86M 1,731.00M 1,520.00M 1,338.00M 1,552.74M 1,436.31M 1,605.44M 1,420.89M 1,320.55M 1,368.04M 1,373.36M 1,672.93M 1,986.62M 0.00M
Cash at End of Period 8,096.00M 7,420.00M 1,909.00M 1,731.00M 1,520.00M 1,338.00M 1,552.74M 1,436.31M 1,605.44M 1,420.89M 1,320.55M 1,368.04M 1,373.36M 1,672.93M 1,986.62M
Operating Cash Flow 3,511.00M 3,921.28M 3,795.00M 3,905.00M 2,575.05M 2,311.50M 1,892.72M 2,610.09M 2,252.49M 1,916.31M 1,885.51M 1,742.41M 1,099.04M 932.32M 499.98M
Capital Expenditure -85.00M -218.79M -216.00M -256.00M -214.39M -346.35M -927.11M -648.13M -97.68M -78.97M -107.69M -81.94M -73.16M -129.56M -91.52M
Free Cash Flow 3,426.00M 4,038.49M 3,579.00M 3,649.00M 2,360.66M 1,965.15M 965.61M 1,961.97M 2,154.81M 1,837.34M 1,777.82M 1,660.47M 1,025.88M 802.76M 408.46M

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
EBITDA 5,784.00M 11,109.85M -4,344.00M 1,030.00M 3,958.24M 3,232.21M 2,757.25M 3,609.40M 3,554.20M 3,371.43M 3,062.89M 637.16M 688.99M 746.70M 676.24M
(-) Tax Adjustment 1,332.42M 2,416.72M -751.07M 212.15M 768.76M 689.71M 546.75M 812.78M 786.21M 1,180.00M 1,068.01M 223.00M 241.15M 261.34M 227.82M
(-) Change In Working Capital 435.00M -80.00M -22.00M 822.00M 578.00M -45.00M -1,093.08M 106.85M 6.27M -219.88M 47.98M -12.15M -404.14M -613.06M -13.90M
(-) Capital Expenditure -85.00M -218.79M -216.00M -256.00M -214.39M -346.35M -927.11M -648.13M -97.68M -78.97M -107.69M -81.94M -73.16M -129.56M -91.52M
Unlevered Free Cash Flow 3,829.58M 8,554.35M -3,786.93M -260.15M 2,397.09M 2,241.15M 2,376.47M 2,041.64M 2,664.04M 2,332.34M 1,839.21M 344.36M 778.82M 968.85M 370.80M
(-) Net Interest Income After Taxes 1,355.33M -142.02M 0.00M -549.47M -105.18M -48.91M -87.67M -204.54M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance 270.00M 1,574.00M 232.00M 5,972.00M 2,704.34M -856.03M -2,667.90M -5,889.51M 4,537.39M -1,275.83M -3,057.00M 0.00M 3,851.42M 0.00M 0.00M
Levered Free Cash Flow 2,744.25M 10,270.36M -3,554.93M 6,261.32M 5,206.60M 1,434.03M -203.76M -3,643.33M 7,201.43M 1,056.51M -1,217.80M 344.36M 4,630.25M 968.85M 370.80M