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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

Mizuho Medy Co.,Ltd.

Ticker: 4595.T | Industry: Drug Manufacturers - Specialty & Generic | Sector: Healthcare
$1,809.00 +22.00 (1.23%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Stock Price 1,526.00 1,604.13 1,318.25 1,380.00 1,457.25 696.63 1,343.13 1,339.38 774.94 288.41
Market Capitalization 29,068.29M 30,556.54M 25,111.16M 26,287.51M 27,759.14M 13,270.12M 25,585.44M 25,514.31M 14,762.50M 5,494.38M
(-) Cash & Equivalents 11,413.33M 10,585.25M 9,057.38M 5,870.84M 2,022.08M 416.34M 370.45M 394.86M 392.25M 135.72M
(+) Total Debt 0.00M 0.00M 0.00M 0.00M 255.42M 588.34M 538.32M 208.44M 215.12M 495.41M
Enterprise Value 17,654.95M 19,971.29M 16,053.78M 20,416.67M 25,992.48M 13,442.13M 25,753.30M 25,327.89M 14,585.38M 5,854.07M

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
Revenue 9,666M 10,988M 11,429M 10,990M 17,582M 12,886M 4,203M 6,427M 6,425M 5,624M 4,962M 4,083M 3,997M 3,248M
Cost of Revenue 3,023M 3,090M 3,345M 2,916M 3,482M 3,234M 1,445M 2,088M 2,099M 1,965M 1,772M 1,422M 1,348M 1,145M
Gross Profit 6,643M 7,899M 8,084M 8,074M 14,100M 9,652M 2,759M 4,339M 4,327M 3,659M 3,191M 2,661M 2,649M 2,103M
Gross Profit Margin 68.7% 71.9% 70.7% 73.5% 80.2% 74.9% 65.6% 67.5% 67.3% 65.1% 64.3% 65.2% 66.3% 64.7%
R&D Expenses 783M 547M 783M 669M 605M 592M 509M 462M 461M 386M 357M 307M 286M 258M
SG&A Expenses 2,183M 2,698M 2,338M 2,205M 2,337M 2,316M 1,775M 1,364M 1,335M 1,260M 1,361M 1,073M 1,058M 1,632M
Operating Expenses 3,012M 3,054M 3,167M 2,922M 2,996M 2,954M 2,343M 3,228M 3,106M 2,809M 2,335M 1,974M 1,909M 1,891M
Operating Income (EBIT) 3,631M 4,845M 4,917M 5,152M 11,104M 6,699M 416M 1,111M 1,221M 850M 855M 687M 740M 212M
Operating Income Margin 37.6% 44.1% 43.0% 46.9% 63.2% 52.0% 9.9% 17.3% 19.0% 15.1% 17.2% 16.8% 18.5% 6.5%
Interest Income 98M 63M 75M 41M 9M 2M 0M 0M 0M 0M 0M 0M 0M 7M
Interest Expense 0M 0M 0M 0M 0M 1M 2M 2M 1M 1M 3M 5M 6M 0M
Net Interest Income 98M 63M 75M 41M 9M 1M -2M -2M -1M -1M -3M -5M -6M 7M
Unusual Items 63M -53M 175M 99M -43M 125M 1M 62M -8M 2M -328M -312M -275M -14M
EBT Excluding Unusual Items 3,729M 4,908M 4,992M 5,193M 11,114M 6,699M 414M 1,109M 1,220M 849M 852M 682M 734M 219M
Pre-Tax Income 3,792M 4,855M 5,167M 5,292M 11,071M 6,825M 415M 1,171M 1,212M 851M 525M 370M 459M 205M
Pre-Tax Margin 39.2% 44.2% 45.2% 48.2% 63.0% 53.0% 9.9% 18.2% 18.9% 15.1% 10.6% 9.1% 11.5% 6.3%
Income Tax Expense 980M 1,357M 1,393M 1,518M 3,233M 2,008M 109M 296M 293M 191M 130M 112M 142M 66M
Net Income 2,811M 3,497M 3,773M 3,774M 7,838M 4,817M 306M 874M 919M 660M 395M 258M 317M 139M
Net Income Margin 29.1% 31.8% 33.0% 34.3% 44.6% 37.4% 7.3% 13.6% 14.3% 11.7% 8.0% 6.3% 7.9% 4.3%
Depreciation & Amortization 258M 103M 228M 195M 158M 173M 194M 167M 97M 77M 65M 52M 50M 13M
EBITDA 3,889M 4,947M 5,145M 5,347M 11,262M 6,871M 610M 1,278M 1,317M 928M 920M 739M 790M 225M
EBITDA Margin 40.2% 45.0% 45.0% 48.7% 64.1% 53.3% 14.5% 19.9% 20.5% 16.5% 18.5% 18.1% 19.8% 6.9%
NOPAT 2,693M 3,490M 3,591M 3,674M 7,862M 4,728M 307M 830M 926M 660M 644M 478M 511M 144M
NOPAT Margin 27.9% 31.8% 31.4% 33.4% 44.7% 36.7% 7.3% 12.9% 14.4% 11.7% 13.0% 11.7% 12.8% 4.4%
Owner's Earnings 3,069M 3,599M 3,702M 3,700M 7,817M 4,831M 403M 280M 299M 631M 374M 249M 327M 152M
Owner's Earnings Margin 31.8% 32.8% 32.4% 33.7% 44.5% 37.5% 9.6% 4.4% 4.7% 11.2% 7.5% 6.1% 8.2% 4.7%
EPS (Basic) 147.57 183.56 198.07 198.13 411.47 252.86 16.08 45.90 48.25 34.65 20.75 15.15 18.75 8.22
EPS (Diluted) 147.57 183.56 198.07 198.13 411.47 252.86 16.08 45.90 48.25 34.65 20.74 15.15 18.75 8.22
Shares (Basic) 19M 19M 19M 19M 19M 19M 19M 19M 19M 19M 19M 17M 17M 17M
Shares (Diluted) 19M 19M 19M 19M 19M 19M 19M 19M 19M 19M 19M 17M 17M 17M

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
Cash & Cash Equivalents 10,857.00M 12,365.00M 11,246.00M 10,134.00M 8,702.15M 4,326.56M 54.31M 217.24M 235.32M 265.67M 75.60M 41.23M 38.62M 33.00M
Short-Term Investments 0.00M 0.00M 0.00M 0.76M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 10,857.00M 12,365.00M 11,246.00M 10,134.76M 8,702.15M 4,326.56M 54.31M 217.24M 235.32M 265.67M 75.60M 41.23M 38.62M 33.00M
Net Receivables 2,822.00M 1,661.00M 4,543.00M 4,399.19M 6,387.14M 4,006.53M 2,042.47M 2,488.42M 2,228.49M 2,103.06M 2,033.01M 0.00M 1,453.65M 1,040.00M
Inventory 3,020.00M 2,904.00M 2,047.00M 1,596.61M 1,267.42M 1,265.29M 1,455.12M 1,141.91M 1,151.13M 785.62M 746.95M 868.47M 593.18M 571.00M
Other Current Assets 102.00M 109.00M 162.00M 159.22M 143.75M 46.06M 78.25M 5.30M 78.38M 64.12M 61.03M 31.42M 37.46M 26.00M
Total Current Assets 16,801.00M 17,039.00M 17,998.00M 16,289.78M 16,500.46M 9,644.44M 3,630.15M 3,852.88M 3,693.31M 3,218.46M 2,916.59M 941.12M 2,122.90M 1,670.00M
Property, Plant & Equipment 2,291.00M 2,294.00M 2,271.00M 2,251.45M 2,153.15M 2,099.11M 2,127.71M 2,214.53M 1,602.48M 939.61M 923.71M 884.49M 887.98M 887.00M
Goodwill 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
Intangible Assets 26.00M 8.00M 10.00M 11.85M 14.31M 12.21M 12.42M 13.95M 15.02M 8.17M 5.72M 5.05M 5.69M 6.00M
Long-Term Investments 0.00M 388.00M 8.00M 16.00M 7.85M 7.81M 7.81M 12.36M 9.21M 9.26M 8.99M 9.41M 9.05M 16.00M
Tax Assets 0.00M 0.00M 419.00M 379.02M 417.40M 402.45M 247.28M 265.12M 188.24M 185.21M 178.05M 174.09M 183.11M 0.00M
Other Non-Current Assets 477.00M 1.00M 20.00M 0.04M 8.89M 10.45M 10.45M 7.59M 7.92M 8.86M 8.21M 8.53M 8.14M 165.00M
Other Assets 0.00M 0.00M 3.00M 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 2,794.00M 2,691.00M 2,731.00M 2,658.36M 2,601.61M 2,532.03M 2,405.67M 2,513.55M 1,822.86M 1,151.11M 1,124.68M 1,081.58M 1,093.96M 1,074.00M
Total Assets 19,595.00M 19,730.00M 20,729.00M 18,948.14M 19,102.07M 12,176.47M 6,035.82M 6,366.43M 5,516.17M 4,369.57M 4,041.26M 2,022.70M 3,216.87M 2,744.00M
Accounts Payable 568.00M 620.00M 341.00M 351.05M 524.39M 352.87M 214.59M 239.51M 360.97M 271.73M 341.24M 254.51M 282.11M 234.00M
Short-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 219.99M 164.99M 377.91M 81.42M 459.42M 596.05M 865.86M 695.00M
Tax Payables 0.00M 0.00M 1,112.00M 968.44M 2,565.24M 2,390.92M 210.03M 324.67M 293.60M 246.39M 218.72M 108.22M 188.48M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 12.31M 18.48M 2.31M 552.00M 726.39M 670.08M 590.36M 356.26M 172.96M 249.65M 0.00M
Other Current Liabilities 710.00M 489.00M 1,769.00M 726.57M 856.65M 583.27M -83.44M -190.07M 507.09M 408.68M 366.71M 90.69M 84.72M 195.00M
Total Current Liabilities 1,278.00M 1,109.00M 3,222.00M 2,058.36M 3,964.75M 3,329.36M 1,113.17M 1,265.50M 2,209.66M 1,598.57M 1,742.34M 1,222.42M 1,670.82M 1,124.00M
Long-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 373.35M 513.34M 25.00M 102.91M 184.33M 265.75M 82.17M 153.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.03M 2.65M 5.89M 12.54M 26.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.19M 0.13M 0.12M 0.12M 0.19M 0.21M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 1,026.00M 1,008.00M 1,089.00M 992.92M 897.45M 828.59M 770.70M 756.05M 698.81M 674.95M 631.03M 579.70M 542.00M 507.00M
Total Non-Current Liabilities 1,026.00M 1,008.00M 1,089.00M 993.11M 897.57M 828.71M 1,144.17M 1,269.58M 724.03M 778.89M 818.00M 851.34M 636.71M 686.00M
Total Liabilities 2,304.00M 2,117.00M 4,311.00M 3,051.47M 4,862.32M 4,158.07M 2,257.34M 2,535.08M 2,933.69M 2,377.46M 2,560.35M 2,073.76M 2,307.53M 1,810.00M
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 0.00M
Common Stock 464.00M 464.00M 464.00M 464.55M 464.55M 464.55M 464.55M 464.55M 464.55M 464.55M 464.55M 464.55M 329.75M 329.00M
Retained Earnings 16,110.00M 16,494.00M 16,426.00M 14,748.39M 13,355.26M 7,101.12M 2,855.82M 2,825.68M 2,227.55M 1,508.37M 1,157.38M 850.29M 689.98M 414.00M
Accumulated OCI 0.00M 1.00M 1.00M 1.00M 221.45M 221.42M 0.00M 221.59M 221.64M 221.57M 221.55M 739.10M 2.00M 2.00M
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
Total Shareholders’ Equity 16,574.00M 16,959.00M 16,891.00M 15,213.94M 14,041.25M 7,787.09M 3,320.36M 3,511.82M 2,913.74M 2,194.49M 1,843.48M 2,053.93M 1,021.73M 745.00M
Total Equity 16,574.00M 16,959.00M 16,891.00M 15,213.94M 14,041.25M 7,787.09M 3,320.36M 3,511.82M 2,913.74M 2,194.49M 1,843.48M 2,053.93M 1,021.73M 745.00M
Total Liabilities & Equity 18,878.00M 19,076.00M 21,202.00M 18,265.41M 18,903.58M 11,945.16M 5,577.71M 6,046.89M 5,847.43M 4,571.95M 4,403.82M 4,127.69M 3,329.26M 2,555.00M
Tangible Assets 19,569.00M 19,722.00M 20,719.00M 18,936.29M 19,087.75M 12,164.26M 6,023.40M 6,352.48M 5,501.16M 4,361.40M 4,035.54M 2,017.65M 3,211.17M 2,738.00M
Tangible Equity 16,548.00M 16,951.00M 16,881.00M 15,202.09M 14,026.94M 7,774.88M 3,307.95M 3,497.86M 2,898.73M 2,186.32M 1,837.75M 2,048.88M 1,016.04M 739.00M
Tangible Book Value 16,548.00M 16,951.00M 16,881.00M 15,202.09M 14,026.94M 7,774.88M 3,307.95M 3,497.86M 2,898.73M 2,186.32M 1,837.75M 2,048.88M 1,016.04M 739.00M
Total Investments 0.00M 388.00M 8.00M 1,426.35M 7.85M 7.81M 7.81M 12.36M 9.21M 9.26M 8.99M 9.41M 9.05M 16.00M
Net Debt -10,857.00M -12,365.00M -11,246.00M -10,134.00M -8,702.15M -4,326.56M 539.03M 461.09M 167.59M -81.34M 568.15M 820.57M 909.41M 815.00M

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
Working Capital 15,081.0M 15,550.0M 15,711.0M 14,010.4M 12,578.7M 6,325.3M 2,522.0M 2,509.5M 2,056.6M 2,064.1M 1,588.3M 1,356.3M 695.9M 487.0M
Total Capital 16,847.0M 17,232.0M 17,353.0M 15,675.8M 14,282.7M 8,028.6M 4,377.0M 4,432.0M 3,558.6M 2,622.7M 2,749.8M 2,457.5M 2,120.4M 1,758.0M
Capital Employed 17,875.0M 18,241.0M 18,442.0M 16,668.7M 15,180.3M 8,857.3M 4,927.7M 5,023.1M 3,879.5M 3,215.2M 2,713.0M 2,437.9M 1,789.9M 1,561.0M
Invested Capital 5,990.0M 4,867.0M 6,107.0M 5,541.8M 5,580.6M 3,702.1M 4,322.7M 4,214.8M 3,323.3M 2,357.0M 2,674.2M 2,416.2M 2,081.7M 1,725.0M

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
Net Income 3,304.00M 3,802.00M 3,773.00M 3,774.24M 11,070.89M 6,824.52M 415.17M 1,170.78M 1,211.79M 851.13M 524.73M 369.75M 459.34M 139.00M
Depreciation & Amortization 0.00M 101.07M 228.00M 195.00M 186.59M 172.60M 192.62M 165.96M 96.71M 77.11M 65.05M 52.28M 49.57M 0.00M
Deferred Income Tax 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
Stock-Based Compensation 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
Change in Working Capital 0.00M 0.00M -341.00M 1,325.73M -1,938.19M -1,391.44M -1.00M -388.84M -325.65M 86.74M -419.51M -288.71M -281.11M 0.00M
Accounts Receivable 0.00M 0.00M -144.00M 1,988.81M -2,381.46M -1,964.82M 446.22M -259.99M -125.42M -71.16M -565.98M -13.38M 0.00M 0.00M
Inventory 0.00M 0.00M -451.00M -329.19M -2.13M 189.83M -313.21M 9.21M -365.50M -38.68M 121.53M -275.29M -20.70M 0.00M
Accounts Payable 0.00M 0.00M 6.00M -236.20M 219.29M 203.73M -74.72M -194.15M 109.79M 117.35M -45.44M -0.04M 0.00M 0.00M
Other Working Capital 0.00M 0.00M 248.00M -97.69M 226.11M 179.83M -59.30M 56.09M 39.86M 125.42M -541.04M -13.42M -260.41M 0.00M
Other Non-Cash Items -3,304.00M -3,700.93M -312.00M -1,303.14M -3,146.79M -9.17M -311.37M -202.91M -312.19M -137.30M 17.02M -115.61M -11.97M -139.00M
Net Cash from Operating Activities 0.00M 202.15M 3,348.00M 3,991.83M 6,172.51M 5,596.51M 295.42M 745.00M 670.67M 877.68M 187.28M 17.71M 215.83M 0.00M
Capital Expenditures (PPE) 0.00M 0.00M -299.00M -263.00M -179.28M -158.56M -97.06M -761.94M -717.13M -106.49M -85.87M -60.93M -39.84M 0.00M
Acquisitions (Net) 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
Purchases of Investments 0.00M 0.00M -3,040.00M -2,711.00M -1,373.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -2.00M 0.00M
Sales / Maturities of Investments 0.00M 0.00M 3,040.00M 2,711.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 0.00M 0.00M -8.00M -7.45M -0.51M -1.17M -0.26M -0.35M -0.51M -4.18M -0.71M -1.61M -0.20M 0.00M
Net Cash from Investing Activities 0.00M 0.00M -307.00M -270.45M -1,553.59M -159.74M -97.32M -762.28M -717.63M -107.36M -86.07M -61.82M -42.04M 0.00M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -593.34M -84.99M 275.43M 218.58M -459.42M 25.34M -124.07M -125.65M 0.00M
Long-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -513.34M -164.99M 575.43M -81.42M -81.42M -81.42M 193.58M -90.65M 0.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -80.00M 80.00M -300.00M 300.00M -378.00M 110.00M -311.00M -35.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M -0.18M -0.11M -0.29M 0.00M -0.08M -0.93M 0.00M -4.21M 268.10M 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 -3.92M 269.60M 0.00M 0.00M
Common Stock Repurchased 0.00M 0.00M 0.00M -0.18M -0.11M -0.29M 0.00M -0.08M -0.93M -0.25M -4.21M -1.50M 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
Net Dividends Paid 0.00M 0.00M -2,094.00M -2,380.00M -1,570.63M -570.95M -276.11M -276.16M -199.99M -118.99M -87.95M -97.29M -42.30M 0.00M
Common Dividends Paid 0.00M 0.00M -2,094.00M -2,380.83M -1,570.63M -570.95M -276.11M -276.16M -199.99M -118.99M -87.95M -97.29M -42.30M 0.00M
Preferred Dividends Paid 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 0.00M 0.00M 0.00M -0.83M 0.00M 0.00M 0.00M 0.00M -1.03M -1.86M 0.00M 0.00M 0.00M 0.00M
Net Cash from Financing Activities 0.00M 0.00M -2,094.00M -2,381.00M -1,570.74M -1,164.59M -361.10M -0.81M 16.63M -580.27M -66.83M 46.74M -167.95M 0.00M
Effect of FX on Cash 0.00M 0.00M 1.00M 0.94M 0.40M 0.07M 0.07M 0.02M -0.01M 0.02M -0.01M -0.02M -0.29M 0.00M
Net Change in Cash 0.00M 195.59M 948.00M 1,341.32M 3,048.58M 4,272.25M -162.93M -18.08M -30.34M 190.07M 34.38M 2.61M 5.56M 0.00M
Cash at Beginning of Period 0.00M 18,864.44M 8,716.00M 7,375.15M 4,326.56M 54.31M 217.24M 235.32M 265.67M 75.60M 41.23M 38.62M 33.06M 0.00M
Cash at End of Period 0.00M 19,060.02M 9,664.00M 8,716.46M 7,375.15M 4,326.56M 54.31M 217.24M 235.32M 265.67M 75.60M 41.23M 38.62M 0.00M
Operating Cash Flow 0.00M 202.15M 3,348.00M 3,991.00M 6,172.51M 5,596.51M 295.42M 745.00M 670.67M 877.68M 187.28M 17.71M 215.83M 0.00M
Capital Expenditure 0.00M 0.00M -299.00M -270.07M -179.28M -158.56M -97.06M -761.94M -717.13M -106.49M -85.87M -60.93M -39.84M 0.00M
Free Cash Flow 0.00M 202.15M 3,049.00M 3,722.00M 5,993.22M 5,437.94M 198.36M -16.94M -46.46M 771.19M 101.42M -43.22M 175.99M 0.00M

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
EBITDA 4,835.75M 4,956.57M 5,191.00M 5,395.81M 11,315.38M 6,916.35M 668.18M 2,680.66M 2,627.55M 2,090.17M 1,537.47M 1,333.43M 1,355.31M 226.00M
(-) Tax Adjustment 1,270.69M 1,413.84M 1,399.47M 1,547.88M 3,304.19M 2,034.76M 175.14M 678.73M 634.42M 469.24M 379.51M 404.44M 419.10M 72.76M
(-) Change In Working Capital 0.00M 0.00M -341.00M 1,325.73M -1,938.19M -1,391.44M -1.00M -388.84M -325.65M 86.74M -419.51M -288.71M -281.11M 0.00M
(-) Capital Expenditure 0.00M 0.00M -299.00M -270.07M -179.28M -158.56M -97.06M -761.94M -717.13M -106.49M -85.87M -60.93M -39.84M 0.00M
Unlevered Free Cash Flow 3,565.06M 3,542.72M 3,833.53M 2,252.14M 9,770.10M 6,114.46M 396.98M 1,628.82M 1,601.65M 1,427.70M 1,491.61M 1,156.78M 1,177.49M 153.24M
(-) Net Interest Income After Taxes 64.88M 40.58M 54.78M 29.56M 6.71M 0.37M -1.52M -1.39M -0.84M -1.12M -2.25M -3.36M -4.31M 4.75M
Net Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -593.34M -84.99M 275.43M 218.58M -459.42M 25.34M -124.07M -125.65M 0.00M
Levered Free Cash Flow 3,500.18M 3,502.15M 3,778.75M 2,222.58M 9,763.40M 5,520.75M 313.50M 1,905.64M 1,821.07M 969.40M 1,519.20M 1,036.07M 1,056.15M 148.49M