Page: Company Financials
Ta Chen Stainless Pipe Co., Ltd.
$38.70
+0.60 (1.57%)
As of: 2026-01-28
Master Data Export
Enterprise Value
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Price | 40.80 | 34.44 | 38.42 | 33.80 | 37.42 | 20.62 | 29.68 | 29.87 | 13.04 | 11.09 | 10.86 | 11.57 | 8.79 | 9.42 | 9.73 | 10.78 |
| Market Capitalization | 94,046.37M | 77,417.94M | 87,374.27M | 67,637.88M | 70,902.52M | 28,998.04M | 45,801.25M | 36,870.45M | 14,781.88M | 12,115.99M | 12,439.81M | 13,166.75M | 9,282.18M | 11,021.69M | 10,232.77M | 10,336.66M |
| (-) Cash & Equivalents | 13,313.76M | 9,619.88M | 11,553.59M | 11,484.54M | 11,454.79M | 8,578.78M | 8,261.10M | 8,633.10M | 3,467.28M | 3,210.57M | 2,437.72M | 2,047.42M | 1,865.74M | 1,733.56M | 1,749.11M | 337.26M |
| (+) Total Debt | 56,114.16M | 48,633.51M | 57,030.36M | 56,342.62M | 49,928.63M | 59,980.81M | 56,704.93M | 40,741.28M | 33,335.27M | 26,683.13M | 28,996.15M | 23,351.38M | 21,101.21M | 20,621.06M | 18,439.68M | 4,087.74M |
| Enterprise Value | 136,846.76M | 116,431.57M | 132,851.04M | 112,495.96M | 109,376.36M | 80,400.06M | 94,245.08M | 68,978.63M | 44,649.87M | 35,588.54M | 38,998.24M | 34,470.70M | 28,517.64M | 29,909.20M | 26,923.35M | 14,087.15M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 98,663M | 90,811M | 90,398M | 101,257M | 114,149M | 96,886M | 59,235M | 77,874M | 83,711M | 64,425M | 47,749M | 50,679M | 50,812M | 38,609M | 40,038M | 40,989M | 32,957M | 20,980M | 33,226M | 31,017M | 20,794M |
| Cost of Revenue | 75,617M | 75,838M | 73,311M | 81,800M | 83,111M | 67,816M | 50,300M | 63,590M | 65,500M | 53,025M | 40,463M | 45,292M | 41,913M | 33,988M | 35,044M | 36,357M | 27,475M | 17,060M | 28,941M | 25,403M | 15,609M |
| Gross Profit | 23,045M | 14,973M | 17,088M | 19,457M | 31,038M | 29,071M | 8,935M | 14,285M | 18,211M | 11,399M | 7,285M | 5,387M | 8,898M | 4,621M | 4,994M | 4,631M | 5,481M | 3,920M | 4,285M | 5,614M | 5,185M |
| Gross Profit Margin | 23.4% | 16.5% | 18.9% | 19.2% | 27.2% | 30.0% | 15.1% | 18.3% | 21.8% | 17.7% | 15.3% | 10.6% | 17.5% | 12.0% | 12.5% | 11.3% | 16.6% | 18.7% | 12.9% | 18.1% | 24.9% |
| R&D Expenses | 212M | 206M | 212M | 0M | 197M | 185M | 195M | 204M | 39M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M |
| SG&A Expenses | 11,131M | 10,669M | 10,927M | 10,590M | 12,502M | 10,142M | 7,500M | 8,867M | 8,962M | 6,660M | 5,425M | 5,157M | 5,501M | 3,963M | 3,767M | 3,401M | 3,331M | 2,954M | 1,898M | 1,899M | 1,610M |
| Operating Expenses | 11,157M | 9,090M | 10,961M | 8,561M | 12,507M | 10,143M | 7,110M | 8,868M | 8,945M | 6,688M | 5,427M | 5,150M | 5,494M | 3,963M | 3,767M | 3,401M | 3,331M | 2,954M | 2,991M | 1,899M | 1,610M |
| Operating Income (EBIT) | 11,888M | 5,883M | 6,126M | 10,896M | 18,531M | 18,928M | 1,825M | 5,417M | 9,266M | 4,712M | 1,859M | 237M | 3,405M | 658M | 1,227M | 1,230M | 2,150M | 966M | 1,293M | 3,716M | 3,575M |
| Operating Income Margin | 12.0% | 6.5% | 6.8% | 10.8% | 16.2% | 19.5% | 3.1% | 7.0% | 11.1% | 7.3% | 3.9% | 0.5% | 6.7% | 1.7% | 3.1% | 3.0% | 6.5% | 4.6% | 3.9% | 12.0% | 17.2% |
| Interest Income | 226M | 507M | 281M | 287M | 86M | 15M | 19M | 32M | 0M | 0M | 0M | 0M | 0M | 0M | 15M | 12M | 5M | 10M | 32M | 17M | 9M |
| Interest Expense | 1,197M | 1,067M | 1,095M | 1,159M | 1,216M | 1,294M | 1,705M | 1,901M | 1,392M | 913M | 691M | 710M | 562M | 608M | 601M | 577M | 542M | 498M | 610M | 582M | 329M |
| Net Interest Income | -971M | -560M | -814M | -873M | -1,130M | -1,280M | -1,686M | -1,869M | -1,392M | -913M | -691M | -710M | -562M | -608M | -586M | -565M | -537M | -488M | -578M | -565M | -320M |
| Unusual Items | -1,006M | 340M | 1,252M | -415M | 1,785M | -2,234M | -219M | -404M | 1,145M | -1,104M | -154M | 667M | 72M | 486M | 17M | 223M | -343M | 61M | -5,701M | -115M | -33M |
| EBT Excluding Unusual Items | 10,917M | 5,323M | 5,313M | 10,023M | 17,401M | 17,648M | 139M | 3,548M | 7,874M | 3,799M | 1,168M | -473M | 2,842M | 50M | 641M | 665M | 1,613M | 478M | 715M | 3,150M | 3,255M |
| Pre-Tax Income | 9,911M | 5,664M | 6,565M | 9,608M | 19,186M | 15,414M | -80M | 3,144M | 9,019M | 2,695M | 1,015M | 194M | 2,914M | 536M | 658M | 889M | 1,270M | 539M | -4,986M | 3,035M | 3,222M |
| Pre-Tax Margin | 10.0% | 6.2% | 7.3% | 9.5% | 16.8% | 15.9% | -0.1% | 4.0% | 10.8% | 4.2% | 2.1% | 0.4% | 5.7% | 1.4% | 1.6% | 2.2% | 3.9% | 2.6% | -15.0% | 9.8% | 15.5% |
| Income Tax Expense | 2,531M | 1,572M | 1,844M | 2,798M | 4,787M | 3,852M | 21M | 737M | 2,356M | 1,258M | 343M | 361M | 783M | 219M | 192M | 328M | 545M | 191M | -1,774M | 937M | 934M |
| Net Income | 6,074M | 2,744M | 3,538M | 5,331M | 12,026M | 9,673M | -101M | 1,821M | 6,039M | 1,088M | 486M | -288M | 1,885M | 222M | 391M | 463M | 708M | 303M | -3,253M | 2,101M | 2,286M |
| Net Income Margin | 6.2% | 3.0% | 3.9% | 5.3% | 10.5% | 10.0% | -0.2% | 2.3% | 7.2% | 1.7% | 1.0% | -0.6% | 3.7% | 0.6% | 1.0% | 1.1% | 2.1% | 1.4% | -9.8% | 6.8% | 11.0% |
| Depreciation & Amortization | 3,394M | 3,140M | 3,267M | 2,788M | 2,460M | 2,211M | 2,271M | 2,172M | 775M | 583M | 565M | 553M | 507M | 460M | 586M | 478M | 513M | 494M | 447M | 349M | 352M |
| EBITDA | 15,282M | 9,023M | 9,394M | 13,683M | 20,991M | 21,139M | 4,096M | 7,589M | 10,040M | 5,295M | 2,424M | 790M | 3,912M | 1,118M | 1,813M | 1,709M | 2,663M | 1,460M | 1,740M | 4,065M | 3,927M |
| EBITDA Margin | 15.5% | 9.9% | 10.4% | 13.5% | 18.4% | 21.8% | 6.9% | 9.7% | 12.0% | 8.2% | 5.1% | 1.6% | 7.7% | 2.9% | 4.5% | 4.2% | 8.1% | 7.0% | 5.2% | 13.1% | 18.9% |
| NOPAT | 8,852M | 4,250M | 4,405M | 7,723M | 13,907M | 14,198M | 1,442M | 4,147M | 6,845M | 2,513M | 1,230M | -204M | 2,490M | 389M | 869M | 777M | 1,228M | 624M | 1,022M | 2,568M | 2,539M |
| NOPAT Margin | 9.0% | 4.7% | 4.9% | 7.6% | 12.2% | 14.7% | 2.4% | 5.3% | 8.2% | 3.9% | 2.6% | -0.4% | 4.9% | 1.0% | 2.2% | 1.9% | 3.7% | 3.0% | 3.1% | 8.3% | 12.2% |
| Owner's Earnings | 1,302M | -654M | -1,701M | 738M | 5,880M | 9,940M | 665M | 1,176M | -5,948M | 441M | 562M | -1,716M | 1,544M | -339M | 296M | 421M | 790M | -146M | -4,304M | 1,741M | 2,077M |
| Owner's Earnings Margin | 1.3% | -0.7% | -1.9% | 0.7% | 5.2% | 10.3% | 1.1% | 1.5% | -7.1% | 0.7% | 1.2% | -3.4% | 3.0% | -0.9% | 0.7% | 1.0% | 2.4% | -0.7% | -13.0% | 5.6% | 10.0% |
| EPS (Basic) | 2.67 | 1.21 | 1.53 | 2.30 | 5.19 | 4.75 | -0.06 | 1.11 | 4.44 | 0.91 | 0.42 | -0.24 | 1.58 | 0.19 | 0.32 | 0.39 | 0.65 | 0.30 | -3.38 | 2.58 | 3.37 |
| EPS (Diluted) | 2.68 | 1.21 | 1.53 | 2.29 | 5.16 | 4.73 | -0.06 | 1.11 | 4.42 | 0.91 | 0.42 | -0.24 | 1.62 | 0.19 | 0.33 | 0.38 | 0.65 | 0.30 | -3.38 | 2.56 | 3.37 |
| Shares (Basic) | 2,264M | 2,243M | 2,310M | 2,318M | 2,317M | 2,035M | 1,611M | 1,636M | 1,360M | 1,188M | 1,153M | 1,180M | 1,160M | 1,175M | 1,177M | 1,205M | 1,097M | 1,013M | 964M | 820M | 679M |
| Shares (Diluted) | 2,270M | 2,277M | 2,315M | 2,329M | 2,330M | 2,043M | 1,611M | 1,640M | 1,366M | 1,191M | 1,154M | 1,182M | 1,162M | 1,175M | 1,178M | 1,208M | 1,098M | 1,013M | 964M | 820M | 679M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 13,129.13M | 15,152.74M | 7,248.74M | 9,424.77M | 11,234.29M | 9,331.66M | 7,300.20M | 9,114.89M | 11,837.88M | 2,752.40M | 3,352.93M | 2,574.61M | 1,980.94M | 1,828.22M | 1,248.60M | 2,214.35M | 1,349.04M | 1,466.26M | 2,020.76M | 2,936.26M | 419.94M |
| Short-Term Investments | 3,452.37M | 2,331.94M | 2,821.15M | 4,679.84M | 2,796.44M | 6,759.57M | 2,489.35M | 2,865.15M | 2,329.57M | 1,756.82M | 2,254.95M | 1,918.37M | 1,695.74M | 1,492.79M | 351.32M | 229.62M | 201.28M | 147.24M | 205.03M | 819.64M | 5.48M |
| Cash & Short-Term Investments | 16,581.50M | 17,484.68M | 10,069.89M | 14,104.61M | 14,030.73M | 16,091.23M | 9,789.55M | 11,980.04M | 14,167.45M | 4,509.22M | 5,607.88M | 4,492.98M | 3,676.68M | 3,321.01M | 1,599.92M | 2,443.97M | 1,550.32M | 1,613.50M | 2,225.80M | 3,755.90M | 425.43M |
| Net Receivables | 10,658.29M | 9,697.66M | 8,471.99M | 9,002.45M | 8,105.55M | 7,567.64M | 6,394.24M | 5,731.65M | 0.00M | 0.00M | 4,466.02M | 3,816.47M | 4,137.62M | 3,319.91M | 2,735.21M | 3,069.76M | 2,434.44M | 2,712.93M | 2,087.13M | 2,721.56M | 2,348.78M |
| Inventory | 58,949.63M | 52,827.53M | 54,747.93M | 58,766.29M | 72,103.06M | 49,855.76M | 49,310.90M | 53,935.24M | 47,806.95M | 30,754.58M | 24,756.50M | 27,942.54M | 27,842.37M | 22,433.13M | 20,979.17M | 20,213.31M | 17,423.21M | 14,324.17M | 14,784.38M | 15,255.51M | 10,464.35M |
| Other Current Assets | 950.89M | 857.34M | 304.85M | 67.09M | 220.62M | 30.69M | 29.82M | 1.10M | 0.00M | 0.00M | 0.05M | 0.23M | 0.00M | 0.73M | 1,228.19M | 2,126.91M | 1,258.82M | 1,353.78M | 4,909.03M | 487.97M | 374.96M |
| Total Current Assets | 87,140.31M | 80,867.21M | 73,594.67M | 81,940.45M | 94,459.95M | 73,545.32M | 65,524.51M | 71,648.03M | 61,974.41M | 35,263.80M | 34,830.45M | 36,252.23M | 35,656.67M | 29,074.78M | 26,542.49M | 27,853.96M | 22,666.79M | 20,004.38M | 24,006.34M | 22,220.93M | 13,613.51M |
| Property, Plant & Equipment | 49,897.08M | 47,465.57M | 48,622.37M | 39,600.63M | 33,011.01M | 20,737.72M | 21,780.63M | 19,669.81M | 12,895.51M | 7,214.98M | 6,567.42M | 6,718.70M | 5,398.73M | 4,907.03M | 4,749.93M | 4,783.87M | 4,731.46M | 5,043.82M | 4,620.87M | 3,573.05M | 3,150.94M |
| Goodwill | 4,838.22M | 4,710.63M | 4,786.68M | 4,186.67M | 4,212.70M | 3,691.04M | 3,787.36M | 3,986.07M | 4,083.84M | 475.86M | 141.62M | 144.25M | 137.32M | 106.96M | 38.17M | 3.28M | 8.86M | 9.02M | 7.92M | 1.90M | 1.91M |
| Intangible Assets | 1,038.62M | 1,086.53M | 1,382.81M | 1,586.43M | 1,870.20M | 2,137.57M | 2,152.72M | 2,807.21M | 3,454.16M | 878.68M | 438.22M | 489.33M | 419.63M | 418.86M | 82.38M | 87.61M | 82.38M | 64.05M | 66.84M | 0.00M | 0.00M |
| Long-Term Investments | 3,905.59M | 3,918.72M | 5.86M | 4,218.72M | -9.71M | -4,771.91M | -1,131.18M | -203.86M | -843.77M | -1,027.13M | -1,790.90M | -1,462.85M | -1,245.62M | -991.94M | -324.32M | -154.18M | -127.52M | -45.64M | -97.18M | -791.64M | 42.52M |
| Tax Assets | 2,077.37M | 2,152.47M | 2,265.10M | 1,806.53M | 2,684.21M | 2,478.77M | 2,231.87M | 1,405.41M | 1,281.27M | 1,183.91M | 1,237.03M | 1,351.70M | 1,241.46M | 1,405.43M | 822.42M | 960.63M | 1,128.90M | 1,597.34M | 408.35M | 181.71M | 525.89M |
| Other Non-Current Assets | 444.61M | 434.47M | 4,918.65M | 1,313.64M | 5,631.50M | 8,454.47M | 2,624.80M | 3,607.35M | 2,817.21M | 2,171.32M | 2,772.58M | 2,465.48M | 2,441.17M | 2,191.83M | 1,583.20M | 1,245.44M | 993.91M | 1,133.16M | 1,250.67M | 1,378.52M | 225.57M |
| 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 |
| Total Non-Current Assets | 62,201.49M | 59,768.38M | 61,981.47M | 52,712.61M | 47,399.91M | 32,727.65M | 31,446.19M | 31,271.98M | 23,688.23M | 10,897.62M | 9,365.99M | 9,706.62M | 8,392.69M | 8,038.17M | 6,951.77M | 6,926.65M | 6,817.99M | 7,801.75M | 6,257.45M | 4,343.54M | 3,946.83M |
| Total Assets | 149,341.80M | 140,635.59M | 135,576.13M | 134,653.06M | 141,859.87M | 106,272.98M | 96,970.70M | 102,920.01M | 85,662.63M | 46,161.42M | 44,196.43M | 45,958.85M | 44,049.36M | 37,112.96M | 33,494.26M | 34,780.61M | 29,484.77M | 27,806.13M | 30,263.79M | 26,564.47M | 17,560.34M |
| Accounts Payable | 2,447.57M | 2,693.38M | 2,459.54M | 1,977.72M | 2,996.77M | 2,265.91M | 2,013.58M | 2,698.89M | 2,351.15M | 1,709.34M | 1,474.00M | 1,371.65M | 1,771.98M | 1,220.94M | 862.06M | 1,263.59M | 1,183.04M | 1,117.24M | 581.47M | 799.54M | 975.72M |
| Short-Term Debt | 17,697.76M | 18,653.10M | 14,827.65M | 19,908.13M | 23,690.08M | 12,990.68M | 18,210.99M | 16,512.05M | 10,630.44M | 9,034.43M | 9,365.31M | 11,641.26M | 10,653.04M | 7,741.75M | 9,266.33M | 7,367.79M | 6,713.39M | 9,202.04M | 12,655.65M | 3,963.39M | 2,411.92M |
| Tax Payables | 2,271.83M | 1,424.10M | 358.71M | 918.11M | 1,595.24M | 973.50M | 80.17M | 223.32M | 1,014.10M | 200.58M | 134.17M | 188.86M | 268.91M | 81.23M | 26.51M | 56.82M | 27.79M | 139.54M | 34.01M | 49.57M | 1,375.88M |
| Deferred Revenue | 0.00M | 0.00M | 0.00M | 145.63M | 173.96M | 3,670.48M | 1,617.16M | 2,316.38M | 1,014.10M | 1,843.52M | 1,067.00M | 1,032.98M | 1,252.57M | 623.64M | 541.83M | 563.92M | 462.74M | 476.61M | 532.58M | 736.78M | 1,772.20M |
| Other Current Liabilities | 1,589.61M | 1,435.12M | 1,095.51M | 2,748.53M | 3,015.22M | 1,940.06M | 488.03M | 323.86M | 2,518.44M | 1,434.78M | 676.24M | 702.79M | 574.53M | 372.65M | 411.80M | 594.69M | 483.87M | 458.30M | 556.14M | 854.15M | 468.20M |
| Total Current Liabilities | 24,006.78M | 24,205.69M | 18,741.41M | 25,698.11M | 31,471.26M | 21,840.63M | 22,409.92M | 22,074.50M | 17,528.23M | 14,222.63M | 12,716.71M | 14,937.54M | 14,521.03M | 10,040.20M | 11,108.54M | 9,846.80M | 8,870.83M | 11,393.72M | 14,359.85M | 6,403.43M | 7,003.92M |
| Long-Term Debt | 29,025.58M | 29,940.00M | 23,139.29M | 22,870.65M | 28,987.57M | 26,020.57M | 28,595.83M | 39,366.46M | 35,017.89M | 26,909.81M | 18,177.34M | 17,116.55M | 15,012.84M | 14,301.81M | 11,612.56M | 12,819.73M | 9,637.58M | 5,262.96M | 4,813.77M | 8,468.16M | 6,132.85M |
| Capital Lease Obligations | 8,953.85M | 8,898.76M | 9,894.89M | 8,860.40M | 8,109.74M | 7,491.31M | 8,140.61M | 5,546.27M | 0.00M | 0.55M | 2.13M | 7.88M | 25.62M | 40.58M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Deferred Tax Liabilities | 2,067.84M | 2,040.61M | 2,553.25M | 1,885.66M | 1,821.44M | 1,200.62M | 1,256.82M | 619.67M | 106.73M | 42.52M | 78.63M | 147.41M | 124.87M | 109.73M | 55.48M | 59.93M | 47.88M | 42.09M | 14.84M | 0.00M | 0.00M |
| Other Non-Current Liabilities | 98.03M | 96.97M | 120.19M | 156.29M | 195.43M | 154.29M | 131.00M | 141.44M | 284.33M | 259.18M | 102.98M | 100.67M | 95.43M | 53.55M | 46.60M | 93.15M | 84.06M | 83.47M | 55.28M | 69.10M | 93.57M |
| Total Non-Current Liabilities | 40,145.31M | 40,976.34M | 35,707.62M | 33,772.99M | 39,114.18M | 34,866.80M | 38,124.26M | 45,673.84M | 35,408.95M | 27,212.06M | 18,361.07M | 17,372.50M | 15,258.76M | 14,505.66M | 11,714.64M | 12,972.81M | 9,769.53M | 5,388.51M | 4,883.89M | 8,537.26M | 6,226.42M |
| Total Liabilities | 64,152.09M | 65,182.03M | 54,449.04M | 59,471.10M | 70,585.44M | 56,707.43M | 60,534.17M | 67,748.34M | 52,937.18M | 41,434.69M | 31,077.78M | 32,310.04M | 29,779.79M | 24,545.86M | 22,823.17M | 22,819.61M | 18,640.36M | 16,782.23M | 19,243.75M | 14,940.69M | 13,230.34M |
| Preferred Stock | 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 | 174.44M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock | 25,842.61M | 24,342.61M | 24,342.61M | 24,342.61M | 20,285.51M | 20,084.66M | 16,584.66M | 12,337.90M | 12,337.90M | 9,459.52M | 8,311.41M | 8,081.81M | 7,770.97M | 7,770.97M | 7,081.80M | 7,089.67M | 6,509.04M | 5,378.32M | 4,678.32M | 4,600.37M | 3,463.37M |
| Retained Earnings | 15,429.80M | 13,127.88M | 14,271.51M | 14,079.88M | 15,024.02M | 9,668.40M | 621.06M | 3,980.59M | 6,060.58M | 1,643.38M | 1,147.99M | 1,004.17M | 3,425.23M | -212.93M | 404.45M | 463.27M | 709.53M | 301.89M | -983.05M | 3,763.10M | 2,966.79M |
| Accumulated OCI | 0.00M | 0.00M | 0.00M | 0.00M | 9,656.26M | 296.79M | 242.88M | 882.40M | 1,856.55M | 709.55M | 1,895.26M | 2,155.88M | 468.96M | -174.44M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Minority Interest | 12,847.44M | 10,533.09M | 12,225.09M | 11,419.31M | 10,635.22M | 5,400.91M | 8,479.22M | 11,116.23M | 13,642.99M | 3,869.23M | 3,659.93M | 4,091.11M | 4,130.15M | 4,042.24M | 2,283.13M | 2,536.23M | 2,341.85M | 2,604.25M | 2,097.39M | 1,963.15M | 26.08M |
| Total Shareholders’ Equity | 41,272.41M | 37,470.48M | 38,614.12M | 38,422.48M | 44,965.78M | 30,049.85M | 17,448.60M | 17,200.89M | 20,255.03M | 11,812.45M | 11,354.66M | 11,241.86M | 11,665.16M | 7,558.04M | 7,486.25M | 7,552.95M | 7,218.57M | 5,680.20M | 3,695.27M | 8,363.47M | 6,430.16M |
| Total Equity | 54,119.84M | 48,003.57M | 50,839.20M | 49,841.80M | 55,601.00M | 35,450.76M | 25,927.82M | 28,317.13M | 33,898.02M | 15,681.68M | 15,014.59M | 15,332.96M | 15,795.30M | 11,600.28M | 9,769.38M | 10,089.18M | 9,560.42M | 8,284.45M | 5,792.65M | 10,326.62M | 6,456.25M |
| Total Liabilities & Equity | 118,271.93M | 113,185.59M | 105,288.24M | 109,312.90M | 126,186.44M | 92,158.18M | 86,461.99M | 96,065.46M | 86,835.21M | 57,116.37M | 46,092.37M | 47,643.00M | 45,575.09M | 36,146.14M | 32,592.55M | 32,908.79M | 28,200.78M | 25,066.68M | 25,036.40M | 25,267.30M | 19,686.58M |
| Tangible Assets | 143,464.96M | 134,838.44M | 129,406.64M | 128,879.96M | 135,776.96M | 100,444.37M | 91,030.62M | 96,126.73M | 78,124.63M | 44,806.88M | 43,616.59M | 45,325.26M | 43,492.41M | 36,587.14M | 33,373.71M | 34,689.72M | 29,393.54M | 27,733.06M | 30,189.04M | 26,562.57M | 17,558.43M |
| Tangible Equity | 48,243.00M | 42,206.41M | 44,669.72M | 44,068.70M | 49,518.09M | 29,622.16M | 19,987.74M | 21,523.85M | 26,360.02M | 14,327.14M | 14,434.75M | 14,699.38M | 15,238.36M | 11,074.46M | 9,648.83M | 9,998.29M | 9,469.19M | 8,211.38M | 5,717.90M | 10,324.72M | 6,454.34M |
| Tangible Book Value | 48,243.00M | 42,206.41M | 44,669.72M | 44,068.70M | 49,518.09M | 29,622.16M | 19,987.74M | 21,523.85M | 26,360.02M | 14,327.14M | 14,434.75M | 14,699.38M | 15,238.36M | 11,074.46M | 9,648.83M | 9,998.29M | 9,469.19M | 8,211.38M | 5,717.90M | 10,324.72M | 6,454.34M |
| Total Investments | 6,397.41M | 6,250.66M | 2,827.01M | 7,395.92M | 2,786.73M | 1,987.67M | 1,358.17M | 2,661.29M | 1,485.80M | 729.69M | 464.06M | 455.52M | 450.12M | 500.85M | 27.00M | 75.44M | 73.76M | 101.60M | 107.85M | 28.01M | 48.01M |
| Net Debt | 33,594.21M | 33,440.36M | 30,718.21M | 33,354.01M | 41,443.36M | 29,679.60M | 39,506.62M | 46,763.62M | 33,810.45M | 33,191.84M | 24,189.72M | 26,183.20M | 23,684.94M | 20,215.33M | 19,630.29M | 17,973.16M | 15,001.94M | 12,998.74M | 15,448.66M | 9,495.29M | 8,124.83M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Working Capital | 60,678.8M | 50,794.2M | 52,276.3M | 54,408.3M | 64,625.5M | 56,002.7M | 43,755.4M | 50,813.1M | 55,871.9M | 33,192.4M | 24,277.4M | 23,249.6M | 23,442.4M | 20,614.9M | 16,999.3M | 19,347.6M | 15,421.4M | 9,514.4M | 8,519.8M | 18,496.8M | 9,765.2M |
| Total Capital | 126,747.7M | 117,698.3M | 115,407.0M | 114,699.2M | 124,049.4M | 95,527.8M | 83,425.2M | 87,085.9M | 76,148.9M | 48,923.1M | 39,104.4M | 40,090.5M | 38,046.1M | 32,055.8M | 30,766.8M | 31,067.7M | 26,479.0M | 23,786.4M | 25,248.9M | 24,771.5M | 16,004.3M |
| Capital Employed | 122,880.3M | 110,562.5M | 114,257.8M | 107,120.9M | 112,025.4M | 88,730.3M | 75,201.6M | 82,085.1M | 79,560.2M | 44,090.0M | 33,643.4M | 32,956.2M | 31,835.0M | 28,653.0M | 23,951.1M | 26,274.3M | 22,239.4M | 17,316.2M | 14,777.3M | 22,840.4M | 13,712.0M |
| Invested Capital | 113,618.6M | 102,545.6M | 108,158.3M | 105,274.4M | 112,815.1M | 86,196.1M | 76,125.0M | 77,971.1M | 64,311.0M | 46,170.7M | 35,751.4M | 37,515.9M | 36,065.2M | 30,227.6M | 29,518.2M | 28,853.4M | 25,130.0M | 22,320.1M | 23,228.1M | 21,835.3M | 15,584.3M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 9,911.45M | 4,311.39M | 6,564.67M | 5,330.80M | 19,186.22M | 15,414.49M | -80.41M | 3,144.11M | 9,018.64M | 2,695.30M | 1,014.59M | 194.34M | 2,914.31M | 536.22M | 465.98M | 561.14M | 725.04M | 348.31M | -3,212.17M | 2,100.78M | 2,286.18M |
| Depreciation & Amortization | 3,393.62M | 3,139.63M | 3,267.30M | 2,797.99M | 2,460.77M | 2,211.51M | 2,273.52M | 2,174.88M | 777.44M | 585.89M | 567.05M | 553.22M | 507.39M | 459.73M | 586.50M | 478.48M | 513.22M | 493.74M | 446.56M | 349.46M | 351.70M |
| Deferred Income Tax | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -3,372.99M | 218.89M | 0.00M | -2,391.75M | -1,118.31M | -534.91M | 0.00M | -561.39M | 0.00M | 0.00M | 0.00M | 444.33M | 0.00M | 0.00M | 0.00M | 0.00M |
| Stock-Based Compensation | 0.00M | 0.00M | 0.00M | 0.66M | 0.00M | 275.04M | 19.71M | 0.00M | 32.02M | 140.05M | 46.86M | 0.00M | 48.48M | 0.00M | 0.00M | 0.00M | 49.61M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in Working Capital | -9,201.29M | 10,098.81M | 6,734.49M | 15,510.85M | -14,222.25M | -3,098.94M | -45.91M | -4,695.92M | -13,892.71M | -5,931.15M | 2,029.06M | 275.79M | -4,203.91M | -1,744.69M | -2,052.01M | -3,228.00M | -5,122.66M | -331.68M | -5,292.63M | -6,332.38M | -3,997.45M |
| Accounts Receivable | -1,784.33M | 1,342.66M | -222.65M | 1,089.22M | 182.00M | -1,666.37M | -846.84M | 1,439.27M | 268.75M | -768.93M | -852.31M | 612.98M | -698.04M | -441.77M | 181.20M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Inventory | -7,931.68M | 9,264.84M | 5,230.99M | 15,965.93M | -17,327.39M | -2,005.22M | 2,139.05M | -7,637.80M | -16,247.28M | -3,399.62M | 3,063.30M | 61.99M | -4,180.60M | -1,232.42M | -2,030.46M | -3,089.85M | -4,820.69M | -385.49M | -5,497.29M | -4,944.24M | -4,615.17M |
| Accounts Payable | 0.00M | 138.08M | 474.56M | -1,019.05M | 562.94M | 272.74M | -676.26M | 339.79M | 646.25M | -562.37M | 112.00M | -400.33M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Working Capital | 514.71M | -646.00M | 1,251.59M | -525.26M | 2,360.20M | 299.91M | -661.86M | 1,162.82M | 2,354.56M | -2,531.53M | -1,034.25M | 213.80M | -23.31M | -512.26M | -21.56M | -138.15M | -301.96M | 53.81M | 204.66M | -1,388.14M | 617.72M |
| Other Non-Cash Items | 1,442.69M | -451.70M | -1,317.27M | 876.90M | -3,330.94M | 1,279.62M | 1,685.84M | 1,052.77M | 1,371.42M | 883.09M | 673.94M | 680.35M | 543.43M | 691.45M | 692.24M | 1,173.32M | 365.53M | 597.46M | 4,046.97M | 504.70M | -475.36M |
| Net Cash from Operating Activities | 5,546.48M | 17,854.77M | 15,249.19M | 24,517.20M | 4,093.81M | 12,708.73M | 4,071.62M | 1,675.84M | -5,084.96M | -2,745.14M | 3,796.57M | 1,703.70M | -751.69M | -57.29M | -307.29M | -1,015.07M | -3,024.93M | 1,107.82M | -4,011.27M | -3,377.44M | -1,834.94M |
| Capital Expenditures (PPE) | -8,137.96M | -6,529.82M | -8,506.32M | -7,677.45M | -8,605.73M | -1,944.10M | -1,504.44M | -2,817.02M | -12,761.95M | -1,230.89M | -488.79M | -1,981.27M | -848.12M | -1,021.06M | -681.75M | -520.70M | -431.17M | -942.98M | -1,498.05M | -709.32M | -561.18M |
| Acquisitions (Net) | -122.89M | 95.46M | -181.19M | 97.07M | -128.16M | 342.06M | -0.03M | -124.80M | 6,339.07M | -2,316.99M | 23.69M | -27.86M | 37.79M | -483.33M | 6.77M | 21.99M | 84.29M | 13.21M | 18.84M | -39.48M | -1.81M |
| Purchases of Investments | -893.68M | -371.42M | -300.66M | -2,212.90M | -358.49M | -5,685.69M | 42.54M | -2,338.94M | -629.96M | -234.67M | -398.77M | -191.08M | -264.27M | -211.20M | -111.32M | -124.59M | -133.36M | -341.54M | -1,306.68M | -910.43M | -75.37M |
| Sales / Maturities of Investments | 998.76M | 1,229.99M | 2,038.12M | 60.52M | 3,969.10M | 131.17M | 144.15M | 362.46M | 75.27M | 457.73M | 60.94M | 101.51M | 226.97M | 311.70M | 157.17M | 85.20M | 118.39M | 401.91M | 1,844.65M | 116.16M | 54.20M |
| Other Investing Activities | -1,223.46M | 65.32M | 470.04M | 198.82M | -968.68M | 12.50M | 1,813.10M | 96.97M | -6,768.13M | -112.08M | 36.93M | -23.17M | 71.83M | 297.65M | 141.97M | -861.70M | -59.08M | 230.32M | 156.45M | -1,103.65M | -178.92M |
| Net Cash from Investing Activities | -9,379.23M | -5,510.46M | -6,480.00M | -9,533.93M | -6,091.95M | -7,144.06M | 495.32M | -4,821.32M | -13,745.71M | -3,436.90M | -766.00M | -2,121.86M | -775.81M | -1,106.25M | -487.16M | -1,399.80M | -420.92M | -639.08M | -784.79M | -2,646.71M | -763.09M |
| Net Debt Issuance | 7,631.56M | -9,825.56M | -5,482.38M | -10,423.38M | 11,418.01M | -7,503.85M | -7,855.42M | 10,950.29M | 9,139.34M | 5,084.29M | -1,040.48M | 3,023.35M | 2,778.64M | 906.13M | 825.83M | 3,490.20M | 2,425.96M | -2,891.63M | 5,244.32M | 3,823.55M | 2,637.45M |
| Long-Term Debt Issuance | 9,545.50M | -8,648.17M | -285.31M | -14,284.50M | 8,393.08M | -7,075.37M | -5,780.00M | 6,660.49M | 6,705.94M | 6,732.14M | -1,603.99M | 3,808.35M | 918.77M | 656.75M | 1,167.58M | 2,691.96M | 1,244.92M | -2,474.13M | 3,528.03M | 2,565.11M | 1,610.66M |
| Short-Term Debt Issuance | -1,913.95M | -1,177.39M | -5,197.07M | 3,861.12M | 3,024.92M | -428.47M | -2,075.42M | 4,289.81M | 2,433.40M | -1,647.85M | 563.51M | -785.01M | 1,859.86M | 249.38M | -341.75M | 798.24M | 1,181.03M | -136.81M | 1,716.29M | 1,258.44M | 1,026.79M |
| Net Stock Issuance | 7,069.62M | 0.00M | 0.00M | 0.00M | -240.76M | 8,150.24M | 7,121.18M | -2,856.55M | 10,495.00M | 1,620.00M | 0.00M | -555.08M | 0.00M | 0.00M | -88.90M | -187.67M | 1,047.86M | 1,362.09M | -122.09M | 590.55M | 0.00M |
| Common Stock Issuance | 7,675.02M | 0.00M | 0.00M | 0.00M | 0.00M | 15,541.00M | 7,456.65M | 0.00M | 10,495.00M | 1,620.00M | 62,541.16M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 1,047.86M | 1,365.00M | 0.00M | 590.55M | 0.00M |
| Common Stock Repurchased | -605.40M | 0.00M | 0.00M | 0.00M | -240.76M | -7,390.75M | -335.47M | -2,856.55M | 0.00M | 0.00M | -92.85M | -555.08M | 0.00M | 0.00M | -88.90M | -187.67M | 0.00M | -2.91M | -122.09M | 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 |
| Net Dividends Paid | -2,342.51M | -2,572.69M | -2,572.69M | -4,287.81M | -3,184.02M | -2,140.14M | -2,090.44M | -5,247.48M | -1,086.85M | -413.51M | -382.67M | -466.26M | -466.26M | -137.83M | -975.46M | 0.00M | -163.91M | 0.00M | -1,426.12M | -1,198.98M | -501.46M |
| Common Dividends Paid | -2,342.51M | -2,572.69M | -2,572.69M | -4,287.81M | -3,184.02M | -2,140.14M | -2,090.44M | -5,247.48M | -756.76M | -413.51M | -382.67M | -466.26M | -466.26M | -137.83M | -975.46M | 0.00M | -163.91M | 0.00M | -1,426.12M | -1,198.98M | -501.46M |
| Preferred Dividends Paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -330.08M | 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 | -4,142.62M | -2,680.41M | -3,156.18M | -2,884.17M | -4,498.67M | -1,932.21M | -3,454.51M | -2,348.09M | 9,364.53M | -624.45M | -776.23M | -940.67M | -649.65M | 1,061.77M | -141.01M | 9.09M | -101.44M | 424.78M | 206.13M | 5,318.49M | 706.58M |
| Net Cash from Financing Activities | 8,216.05M | -14,774.24M | -11,211.25M | -17,595.36M | 3,494.55M | -3,425.95M | -6,279.19M | 498.17M | 27,912.02M | 5,666.33M | -2,199.39M | 1,061.34M | 1,662.73M | 1,828.38M | -216.22M | 3,311.62M | 3,208.46M | -1,104.77M | 3,902.23M | 8,533.61M | 2,842.57M |
| Effect of FX on Cash | -254.25M | -83.98M | 266.03M | 57.13M | 406.22M | -107.27M | -102.46M | -75.69M | 4.13M | -84.82M | -52.87M | -49.50M | 17.49M | -79.67M | 44.93M | -31.44M | 120.17M | 81.52M | -21.66M | 6.85M | -34.41M |
| Net Change in Cash | 4,129.05M | -2,607.38M | -2,176.03M | -1,809.52M | 1,902.63M | 2,031.46M | -1,814.69M | -2,722.99M | 9,085.48M | -600.53M | 778.31M | 593.67M | 152.72M | 585.17M | -965.76M | 865.32M | -117.23M | -554.50M | -915.49M | 2,516.31M | 210.14M |
| Cash at Beginning of Period | 43,227.90M | 43,401.47M | 9,424.77M | 11,234.29M | 9,331.66M | 7,300.20M | 9,114.89M | 11,837.88M | 2,752.40M | 3,352.93M | 2,574.61M | 1,980.94M | 1,828.22M | 1,243.05M | 2,214.35M | 1,349.04M | 1,466.26M | 2,020.76M | 2,936.26M | 419.94M | 209.81M |
| Cash at End of Period | 47,356.95M | 40,794.09M | 7,248.74M | 9,424.77M | 11,234.29M | 9,331.66M | 7,300.20M | 9,114.89M | 11,837.88M | 2,752.40M | 3,352.93M | 2,574.61M | 1,980.94M | 1,828.22M | 1,248.60M | 2,214.35M | 1,349.04M | 1,466.26M | 2,020.76M | 2,936.26M | 419.94M |
| Operating Cash Flow | 5,546.48M | 17,854.77M | 15,249.19M | 25,262.65M | 4,093.81M | 12,708.73M | 4,071.62M | 1,675.84M | -5,084.96M | -2,745.14M | 3,796.57M | 1,703.70M | -751.69M | -57.29M | -307.29M | -1,015.07M | -3,024.93M | 1,107.82M | -4,011.27M | -3,377.44M | -1,834.94M |
| Capital Expenditure | -8,166.10M | -6,536.76M | -8,506.32M | -7,380.30M | -8,605.73M | -1,944.10M | -1,504.44M | -2,817.02M | -12,761.95M | -1,230.89M | -488.79M | -1,981.27M | -848.12M | -1,021.06M | -681.75M | -520.70M | -431.17M | -942.98M | -1,498.05M | -709.32M | -561.18M |
| Free Cash Flow | -2,624.95M | 11,318.02M | 6,718.18M | 17,882.35M | -4,511.91M | 10,764.64M | 2,567.19M | -1,141.17M | -17,846.91M | -3,976.03M | 3,307.78M | -277.57M | -1,599.81M | -1,078.35M | -989.05M | -1,535.77M | -3,456.10M | 164.84M | -5,509.32M | -4,086.75M | -2,396.12M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 15,096.14M | 7,237.44M | 9,215.72M | 11,654.48M | 20,799.03M | 20,954.88M | 3,510.71M | 7,385.30M | 9,984.82M | 5,322.47M | 2,425.74M | 783.40M | 3,904.61M | 1,117.63M | 1,813.15M | 1,708.65M | 2,663.45M | 1,459.89M | 2,833.57M | 4,065.00M | 3,927.13M |
| (-) Tax Adjustment | 3,855.38M | 2,008.99M | 2,588.79M | 3,393.60M | 5,189.79M | 5,236.60M | 0.00M | 1,731.33M | 2,608.61M | 1,862.86M | 821.01M | 274.19M | 1,049.44M | 391.17M | 528.93M | 598.03M | 932.21M | 510.96M | 991.75M | 1,255.01M | 1,138.17M |
| (-) Change In Working Capital | -9,201.29M | 10,098.81M | 6,734.49M | 15,510.85M | -14,222.25M | -3,098.94M | -45.91M | -4,695.92M | -13,892.71M | -5,931.15M | 2,029.06M | 275.79M | -4,203.91M | -1,744.69M | -2,052.01M | -3,228.00M | -5,122.66M | -331.68M | -5,292.63M | -6,332.38M | -3,997.45M |
| (-) Capital Expenditure | -8,166.10M | -6,536.76M | -8,506.32M | -7,380.30M | -8,605.73M | -1,944.10M | -1,504.44M | -2,817.02M | -12,761.95M | -1,230.89M | -488.79M | -1,981.27M | -848.12M | -1,021.06M | -681.75M | -520.70M | -431.17M | -942.98M | -1,498.05M | -709.32M | -561.18M |
| Unlevered Free Cash Flow | 12,275.95M | -11,407.12M | -8,613.88M | -14,630.27M | 21,225.76M | 16,873.12M | 2,052.19M | 7,532.88M | 8,506.97M | 8,159.87M | -913.12M | -1,747.85M | 6,210.96M | 1,450.08M | 2,654.48M | 3,817.92M | 6,422.73M | 337.63M | 5,636.40M | 8,433.05M | 6,225.23M |
| (-) Net Interest Income After Taxes | -722.97M | -404.59M | -585.15M | -618.50M | -847.73M | -959.84M | -1,686.30M | -1,430.96M | -1,028.25M | -593.41M | -456.86M | -461.49M | -411.13M | -395.20M | -414.90M | -367.16M | -349.20M | -317.30M | -375.89M | -390.79M | -227.36M |
| Net Debt Issuance | 7,631.56M | -9,825.56M | -5,482.38M | -10,423.38M | 11,418.01M | -7,503.85M | -7,855.42M | 10,950.29M | 9,139.34M | 5,084.29M | -1,040.48M | 3,023.35M | 2,778.64M | 906.13M | 825.83M | 3,490.20M | 2,425.96M | -2,891.63M | 5,244.32M | 3,823.55M | 2,637.45M |
| Levered Free Cash Flow | 20,630.47M | -20,828.09M | -13,511.10M | -24,435.14M | 33,491.50M | 10,329.12M | -4,116.94M | 19,914.14M | 18,674.56M | 13,837.57M | -1,496.74M | 1,736.99M | 9,400.72M | 2,751.41M | 3,895.21M | 7,675.28M | 9,197.88M | -2,236.71M | 11,256.60M | 12,647.38M | 9,090.03M |