Page: Company Financials
H. Lundbeck A/S
$39.25
+0.70 (1.82%)
As of: 2026-01-23
Master Data Export
Enterprise Value
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Price | 38.87 | 39.10 | 33.77 | 29.34 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 | 32.50 |
| Market Capitalization | 38,599.92M | 38,777.76M | 33,526.02M | 28,285.76M | 25,004.85M | 6,459.38M | 6,457.52M | 6,456.94M | 6,428.14M | 6,409.00M | 6,391.13M | 6,377.31M | 6,374.88M | 6,372.57M | 6,368.04M | 6,373.25M | 6,372.68M |
| (-) Cash & Equivalents | 2,941.00M | 6,063.00M | 3,950.75M | 2,684.75M | 2,033.75M | 3,287.75M | 2,423.25M | 2,692.00M | 2,103.25M | 1,701.00M | 1,946.25M | 2,929.50M | 3,754.50M | 2,273.00M | 2,740.75M | 2,134.75M | 490.00M |
| (+) Total Debt | 13,747.33M | 7,364.00M | 4,674.75M | 6,192.25M | 5,729.00M | 8,832.25M | 2,747.25M | 0.00M | 894.50M | 2,734.75M | 3,642.25M | 2,448.00M | 2,010.75M | 1,908.25M | 1,446.25M | 479.50M | 667.75M |
| Enterprise Value | 49,406.25M | 40,078.76M | 34,250.02M | 31,793.26M | 28,700.10M | 12,003.88M | 6,781.52M | 3,764.94M | 5,219.39M | 7,442.75M | 8,087.13M | 5,895.81M | 4,631.13M | 6,007.82M | 5,073.54M | 4,718.00M | 6,550.43M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 24,078M | 21,467M | 22,004M | 19,912M | 18,246M | 16,299M | 17,667M | 17,358M | 17,875M | 17,234M | 15,634M | 14,594M | 13,468M | 15,258M | 14,802M | 16,007M | 14,765M | 13,747M | 11,282M | 10,985M | 9,221M | 9,070M | 9,733M |
| Cost of Revenue | 4,092M | 4,461M | 4,230M | 4,485M | 3,951M | 3,648M | 4,166M | 3,385M | 3,456M | 3,881M | 4,082M | 5,395M | 4,160M | 4,038M | 3,325M | 3,166M | 2,958M | 2,655M | 1,837M | 2,198M | 1,646M | 1,488M | 933M |
| Gross Profit | 19,986M | 17,006M | 17,774M | 15,427M | 14,295M | 12,651M | 13,501M | 13,973M | 14,419M | 13,353M | 11,552M | 9,199M | 9,308M | 11,220M | 11,477M | 12,841M | 11,807M | 11,092M | 9,445M | 8,787M | 7,575M | 7,582M | 8,800M |
| Gross Profit Margin | 83.0% | 79.2% | 80.8% | 77.5% | 78.3% | 77.6% | 76.4% | 80.5% | 80.7% | 77.5% | 73.9% | 63.0% | 69.1% | 73.5% | 77.5% | 80.2% | 80.0% | 80.7% | 83.7% | 80.0% | 82.2% | 83.6% | 90.4% |
| R&D Expenses | 4,556M | 4,321M | 4,501M | 3,457M | 3,754M | 3,823M | 4,545M | 3,116M | 3,277M | 2,705M | 2,967M | 8,149M | 2,802M | 2,872M | 2,915M | 3,320M | 3,045M | 3,196M | 2,992M | 2,187M | 1,958M | 1,782M | 1,040M |
| SG&A Expenses | 9,548M | 9,389M | 9,583M | 8,775M | 7,689M | 6,818M | 6,912M | 6,413M | 6,039M | 6,482M | 6,293M | 7,866M | 6,407M | 6,749M | 6,915M | 6,128M | 5,405M | 5,038M | 4,110M | 3,923M | 3,838M | 3,639M | 628M |
| Operating Expenses | 14,909M | 13,656M | 14,504M | 12,232M | 11,443M | 10,641M | 11,516M | 10,043M | 9,360M | 9,187M | 9,260M | 16,015M | 9,209M | 9,621M | 9,830M | 9,448M | 8,450M | 8,234M | 7,698M | 6,479M | 6,105M | 5,749M | 6,247M |
| Operating Income (EBIT) | 5,077M | 3,350M | 3,270M | 3,195M | 2,852M | 2,010M | 1,985M | 3,930M | 5,059M | 4,166M | 2,292M | -6,816M | 99M | 1,599M | 1,647M | 3,393M | 3,357M | 2,858M | 1,747M | 2,308M | 1,470M | 1,833M | 2,554M |
| Operating Income Margin | 21.1% | 15.6% | 14.9% | 16.0% | 15.6% | 12.3% | 11.2% | 22.6% | 28.3% | 24.2% | 14.7% | -46.7% | 0.7% | 10.5% | 11.1% | 21.2% | 22.7% | 20.8% | 15.5% | 21.0% | 15.9% | 20.2% | 26.2% |
| Interest Income | 503M | 207M | 218M | 86M | 22M | 7M | 6M | 39M | 29M | 12M | 172M | 288M | 310M | 154M | 13M | 116M | 137M | 370M | 419M | 337M | 250M | 459M | 83M |
| Interest Expense | 773M | 139M | 154M | 97M | 165M | 214M | 249M | 86M | 29M | 97M | 307M | 478M | 465M | 281M | 85M | 212M | 205M | 178M | 1,024M | 724M | 564M | 795M | 23M |
| Net Interest Income | -270M | 68M | 64M | -11M | -143M | -207M | -243M | -47M | 0M | -85M | -135M | -190M | -155M | -127M | -72M | -96M | -68M | 192M | -605M | -387M | -314M | -337M | 60M |
| Unusual Items | 0M | -204M | 385M | -191M | -235M | -222M | 164M | -402M | 230M | 196M | 0M | 0M | 0M | 0M | 7M | 0M | 0M | -384M | 981M | 640M | 477M | 760M | -92M |
| EBT Excluding Unusual Items | 4,807M | 3,418M | 3,334M | 3,184M | 2,709M | 1,803M | 1,742M | 3,883M | 5,059M | 4,081M | 2,157M | -7,006M | -56M | 1,472M | 1,575M | 3,297M | 3,289M | 3,050M | 1,142M | 1,921M | 1,156M | 1,496M | 2,613M |
| Pre-Tax Income | 4,807M | 3,214M | 3,719M | 2,993M | 2,474M | 1,581M | 1,906M | 3,481M | 5,289M | 4,277M | 2,157M | -7,006M | -56M | 1,472M | 1,582M | 3,297M | 3,289M | 2,666M | 2,123M | 2,562M | 1,633M | 2,256M | 2,521M |
| Pre-Tax Margin | 20.0% | 15.0% | 16.9% | 15.0% | 13.6% | 9.7% | 10.8% | 20.1% | 29.6% | 24.8% | 13.8% | -48.0% | -0.4% | 9.6% | 10.7% | 20.6% | 22.3% | 19.4% | 18.8% | 23.3% | 17.7% | 24.9% | 25.9% |
| Income Tax Expense | 998M | 527M | 576M | 703M | 558M | 263M | 325M | 814M | 1,382M | 1,653M | 946M | -1,312M | 97M | 617M | 475M | 1,015M | 823M | 659M | -613M | 792M | 526M | 667M | 832M |
| Net Income | 3,809M | 2,687M | 3,143M | 2,290M | 1,916M | 1,318M | 1,581M | 2,667M | 3,907M | 2,624M | 1,211M | -5,694M | -153M | 855M | 1,107M | 2,282M | 2,466M | 2,007M | 2,736M | 3,354M | 2,159M | 2,923M | 1,709M |
| Net Income Margin | 15.8% | 12.5% | 14.3% | 11.5% | 10.5% | 8.1% | 8.9% | 15.4% | 21.9% | 15.2% | 7.7% | -39.0% | -1.1% | 5.6% | 7.5% | 14.3% | 16.7% | 14.6% | 24.3% | 30.5% | 23.4% | 32.2% | 17.6% |
| Depreciation & Amortization | 881M | 1,915M | 1,876M | 2,012M | 1,811M | 1,710M | 2,793M | 1,670M | 1,183M | 1,249M | 1,343M | 7,026M | 310M | 154M | 901M | 116M | 1,173M | 856M | -605M | -387M | -314M | -337M | 599M |
| EBITDA | 5,958M | 5,265M | 5,146M | 5,207M | 4,663M | 3,720M | 4,778M | 5,600M | 6,242M | 5,415M | 3,635M | 210M | 409M | 1,753M | 2,548M | 3,509M | 4,530M | 3,714M | 1,142M | 1,921M | 1,156M | 1,496M | 3,153M |
| EBITDA Margin | 24.7% | 24.5% | 23.4% | 26.2% | 25.6% | 22.8% | 27.0% | 32.3% | 34.9% | 31.4% | 23.3% | 1.4% | 3.0% | 11.5% | 17.2% | 21.9% | 30.7% | 27.0% | 10.1% | 17.5% | 12.5% | 16.5% | 32.4% |
| NOPAT | 4,023M | 2,801M | 2,764M | 2,445M | 2,209M | 1,676M | 1,647M | 3,011M | 3,737M | 2,556M | 1,287M | -5,385M | 78M | 929M | 1,152M | 2,348M | 2,517M | 2,152M | 2,251M | 1,595M | 997M | 1,291M | 1,711M |
| NOPAT Margin | 16.7% | 13.0% | 12.6% | 12.3% | 12.1% | 10.3% | 9.3% | 17.3% | 20.9% | 14.8% | 8.2% | -36.9% | 0.6% | 6.1% | 7.8% | 14.7% | 17.0% | 15.7% | 20.0% | 14.5% | 10.8% | 14.2% | 17.6% |
| Owner's Earnings | 4,062M | 4,117M | 4,454M | 3,801M | 2,907M | 2,416M | 3,896M | 3,893M | 4,386M | 3,148M | 2,212M | -1,624M | -1,392M | -506M | 358M | 786M | 2,812M | 1,625M | 1,085M | 2,218M | 1,845M | 2,587M | 1,995M |
| Owner's Earnings Margin | 16.9% | 19.2% | 20.2% | 19.1% | 15.9% | 14.8% | 22.1% | 22.4% | 24.5% | 18.3% | 14.1% | -11.1% | -10.3% | -3.3% | 2.4% | 4.9% | 19.0% | 11.8% | 9.6% | 20.2% | 20.0% | 28.5% | 20.5% |
| EPS (Basic) | 3.84 | 2.71 | 3.17 | 2.31 | 1.93 | 1.66 | 7.96 | 13.42 | 19.67 | 13.28 | 6.14 | -28.98 | -0.78 | 4.36 | 5.94 | 11.63 | 12.57 | 10.24 | 13.90 | 16.36 | 10.23 | 13.02 | 7.44 |
| EPS (Diluted) | 3.84 | 2.71 | 3.17 | 2.31 | 1.93 | 1.66 | 7.96 | 13.42 | 19.66 | 13.27 | 6.13 | -28.95 | -0.78 | 4.36 | 5.64 | 11.64 | 12.57 | 10.23 | 13.90 | 16.36 | 10.23 | 12.99 | 7.43 |
| Shares (Basic) | 993M | 992M | 991M | 992M | 993M | 795M | 199M | 199M | 199M | 198M | 197M | 196M | 196M | 196M | 196M | 196M | 196M | 196M | 197M | 205M | 211M | 225M | 230M |
| Shares (Diluted) | 993M | 992M | 991M | 992M | 993M | 795M | 199M | 199M | 199M | 198M | 197M | 197M | 196M | 196M | 196M | 196M | 196M | 196M | 197M | 205M | 211M | 225M | 230M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 3,479.00M | 2,647.00M | 4,664.00M | 5,010.00M | 3,421.00M | 2,279.00M | 3,924.00M | 3,008.00M | 3,605.00M | 2,155.00M | 2,200.00M | 1,504.00M | 3,651.00M | 4,817.00M | 2,747.00M | 2,467.00M | 2,294.00M | 1,960.00M | 2,921.00M | 1,772.00M | 1,176.60M | 458.10M | 541.80M |
| Short-Term Investments | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 4.00M | 3,030.00M | 1,522.00M | 17.00M | 17.00M | 18.00M | 1,042.00M | 1,055.00M | 1,476.00M | 54.00M | 59.00M | 955.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Cash & Short-Term Investments | 3,479.00M | 2,647.00M | 4,664.00M | 5,010.00M | 3,421.00M | 2,279.00M | 3,924.00M | 3,012.00M | 6,635.00M | 3,677.00M | 2,217.00M | 1,521.00M | 3,669.00M | 5,859.00M | 3,802.00M | 3,943.00M | 2,348.00M | 2,019.00M | 3,876.00M | 1,772.00M | 1,176.60M | 458.10M | 541.80M |
| Net Receivables | 5,609.00M | 5,478.00M | 3,984.00M | 3,553.00M | 3,465.00M | 2,748.00M | 3,421.00M | 3,620.00M | 3,116.00M | 3,641.00M | 3,390.00M | 3,452.00M | 3,268.00M | 3,197.00M | 2,935.00M | 2,976.00M | 2,494.00M | 2,310.00M | 1,527.00M | 2,142.30M | 1,822.60M | 1,938.30M | 968.30M |
| Inventory | 4,271.00M | 3,898.00M | 3,983.00M | 4,427.00M | 3,973.00M | 2,775.00M | 2,163.00M | 2,204.00M | 1,753.00M | 1,376.00M | 1,528.00M | 2,217.00M | 1,991.00M | 1,893.00M | 1,730.00M | 1,634.00M | 1,491.00M | 1,481.00M | 837.00M | 924.30M | 1,155.00M | 1,267.10M | 1,281.60M |
| Other Current Assets | 0.00M | 0.00M | 39.00M | 73.00M | 225.00M | 183.00M | 217.00M | 0.00M | 0.00M | 0.00M | 210.00M | 310.00M | 253.00M | 167.00M | 443.00M | 66.00M | 190.00M | 139.00M | 668.20M | 1,572.50M | 1,258.40M | 2,210.60M | 3,046.70M |
| Total Current Assets | 13,359.00M | 12,023.00M | 12,670.00M | 13,063.00M | 11,084.00M | 7,985.00M | 9,725.00M | 8,836.00M | 11,504.00M | 8,694.00M | 7,345.00M | 7,500.00M | 9,181.00M | 11,116.00M | 8,910.00M | 8,619.00M | 6,523.00M | 5,949.00M | 6,908.20M | 6,411.10M | 5,412.60M | 5,874.10M | 5,838.40M |
| Property, Plant & Equipment | 3,276.00M | 3,181.00M | 3,182.00M | 2,881.00M | 2,942.00M | 2,907.00M | 2,733.00M | 2,674.00M | 2,018.00M | 1,990.00M | 2,162.00M | 2,246.00M | 2,724.00M | 2,778.00M | 2,793.00M | 2,814.00M | 3,046.00M | 3,049.00M | 3,153.50M | 3,374.70M | 3,666.70M | 6,960.80M | 3,467.30M |
| Goodwill | 0.00M | 0.00M | 9,832.00M | 5,507.00M | 5,667.00M | 5,377.00M | 4,845.00M | 5,278.00M | 4,300.00M | 4,124.00M | 4,599.00M | 4,475.00M | 4,076.00M | 3,680.00M | 3,818.00M | 0.00M | 3,792.00M | 3,520.00M | 882.20M | 882.20M | 882.20M | 882.60M | 1,037.20M |
| Intangible Assets | 35,490.00M | 35,837.00M | 30,335.00M | 15,185.00M | 16,833.00M | 17,373.00M | 17,893.00M | 20,977.00M | 3,723.00M | 3,441.00M | 4,240.00M | 5,319.00M | 8,594.00M | 5,397.00M | 5,210.00M | 8,445.00M | 4,220.00M | 4,204.00M | 967.30M | 882.90M | 809.30M | 1,671.20M | 634.10M |
| Long-Term Investments | 323.00M | 320.00M | 351.00M | 307.00M | 368.00M | 191.00M | 220.00M | 161.00M | 156.00M | 143.00M | 120.00M | 124.00M | 121.00M | 142.00M | 132.00M | 135.00M | 78.00M | 71.00M | 87.00M | 294.20M | 377.30M | 318.00M | 221.40M |
| Tax Assets | 745.00M | 442.00M | 2,311.00M | 1,525.00M | 1,734.00M | 2,199.00M | 2,075.00M | 2,406.00M | 1,589.00M | 1,433.00M | 1,565.00M | 1,925.00M | 736.00M | 289.00M | 429.00M | 337.00M | 113.00M | 128.00M | 160.00M | 162.70M | 279.10M | 284.40M | 195.40M |
| Other Non-Current 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 | 14.00M | -128.00M | -160.00M | -162.70M | -279.10M | -284.40M | -195.40M |
| 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 |
| Total Non-Current Assets | 39,834.00M | 39,780.00M | 46,011.00M | 25,405.00M | 27,544.00M | 28,047.00M | 27,766.00M | 31,496.00M | 11,786.00M | 11,131.00M | 12,686.00M | 14,089.00M | 16,251.00M | 12,286.00M | 12,382.00M | 11,731.00M | 11,263.00M | 10,844.00M | 5,090.00M | 5,434.00M | 5,735.50M | 9,832.60M | 5,360.00M |
| Total Assets | 53,193.00M | 51,803.00M | 58,681.00M | 38,468.00M | 38,628.00M | 36,032.00M | 37,491.00M | 40,332.00M | 23,290.00M | 19,825.00M | 20,031.00M | 21,589.00M | 25,432.00M | 23,402.00M | 21,292.00M | 20,350.00M | 17,786.00M | 16,793.00M | 11,998.20M | 11,845.10M | 11,148.10M | 15,706.70M | 11,198.40M |
| Accounts Payable | 4,326.00M | 3,980.00M | 4,370.00M | 4,410.00M | 4,251.00M | 3,914.00M | 3,740.00M | 3,933.00M | 4,078.00M | 3,203.00M | 3,650.00M | 4,349.00M | 4,930.00M | 1,967.00M | 1,599.00M | 1,526.00M | 1,237.00M | 997.00M | 867.00M | 1,434.50M | 1,396.30M | 1,449.30M | 1,257.10M |
| Short-Term Debt | 0.00M | 0.00M | 344.00M | 322.00M | 0.00M | 86.00M | 2,077.00M | 2,079.00M | 0.00M | 0.00M | 188.00M | 83.00M | 84.00M | 19.00M | 19.00M | 13.00M | 0.00M | 804.00M | 23.00M | 9.50M | 60.10M | 50.90M | 108.80M |
| Tax Payables | 947.00M | 284.00M | 316.00M | 571.00M | 535.00M | 519.00M | 675.00M | 551.00M | 72.00M | 54.00M | 157.00M | 71.00M | 49.00M | 58.00M | 50.00M | 136.00M | 75.00M | 505.00M | 31.50M | 72.20M | 130.00M | 75.80M | 305.10M |
| 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 | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Current Liabilities | 1,493.00M | 1,189.00M | 2,494.00M | 1,701.00M | 296.00M | 4,298.00M | 3,518.00M | 3,717.00M | 3,426.00M | 3,221.00M | 3,779.00M | 3,243.00M | 2,134.00M | 4,464.00M | 3,306.00M | 3,021.00M | 2,723.00M | 2,615.00M | 1,500.00M | 1,783.50M | 1,762.00M | 2,369.20M | 1,962.10M |
| Total Current Liabilities | 6,766.00M | 5,453.00M | 7,524.00M | 7,004.00M | 5,082.00M | 8,817.00M | 10,010.00M | 10,280.00M | 7,576.00M | 6,478.00M | 7,774.00M | 7,746.00M | 7,197.00M | 6,508.00M | 4,974.00M | 4,696.00M | 4,035.00M | 4,921.00M | 2,421.50M | 3,299.70M | 3,348.40M | 3,945.20M | 3,633.10M |
| Long-Term Debt | 11,924.00M | 13,185.00M | 16,174.00M | 3,714.00M | 5,096.00M | 4,783.00M | 5,397.00M | 7,062.00M | 0.00M | 0.00M | 1,685.00M | 3,687.00M | 3,259.00M | 2,141.00M | 1,890.00M | 1,907.00M | 1,858.00M | 2,671.00M | 1,904.00M | 1,890.10M | 1,440.40M | 376.40M | 383.50M |
| Capital Lease Obligations | 484.00M | 463.00M | 519.00M | 437.00M | 483.00M | 539.00M | 493.00M | 516.00M | 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 |
| Deferred Tax Liabilities | 5,153.00M | 5,147.00M | 7,575.00M | 3,570.00M | 3,656.00M | 3,454.00M | 3,456.00M | 4,233.00M | 896.00M | 734.00M | 548.00M | 916.00M | 1,193.00M | 1,132.00M | 1,143.00M | 896.00M | 576.00M | 784.00M | 426.00M | 327.30M | 431.50M | 237.40M | 213.80M |
| Other Non-Current Liabilities | 1,451.00M | 1,361.00M | 1,245.00M | 1,024.00M | 831.00M | 872.00M | 1,617.00M | 1,740.00M | 712.00M | 581.00M | 507.00M | 613.00M | 457.00M | 377.00M | 351.00M | 259.00M | 301.00M | 204.00M | 104.00M | 121.90M | 19.90M | 2.10M | 74.70M |
| Total Non-Current Liabilities | 19,012.00M | 20,156.00M | 25,513.00M | 8,745.00M | 10,066.00M | 9,648.00M | 10,963.00M | 13,551.00M | 1,608.00M | 1,315.00M | 2,740.00M | 5,216.00M | 4,909.00M | 3,650.00M | 3,384.00M | 3,062.00M | 2,735.00M | 3,659.00M | 2,434.00M | 2,339.30M | 1,891.80M | 615.90M | 672.00M |
| Total Liabilities | 25,778.00M | 25,609.00M | 33,037.00M | 15,749.00M | 15,148.00M | 18,465.00M | 20,973.00M | 23,831.00M | 9,184.00M | 7,793.00M | 10,514.00M | 12,962.00M | 12,106.00M | 10,158.00M | 8,358.00M | 7,758.00M | 6,770.00M | 8,580.00M | 4,855.50M | 5,639.00M | 5,240.20M | 4,561.10M | 4,305.10M |
| 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 | 426.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock | 996.00M | 996.00M | 996.00M | 996.00M | 996.00M | 996.00M | 996.00M | 996.00M | 996.00M | 995.00M | 988.00M | 987.00M | 982.00M | 981.00M | 980.00M | 980.00M | 980.00M | 980.00M | 984.40M | 1,036.40M | 1,060.80M | 1,136.10M | 1,168.70M |
| Retained Earnings | 24,629.00M | 23,510.00M | 22,334.00M | 19,877.00M | 18,189.00M | 16,571.00M | 15,748.00M | 14,979.00M | 12,507.00M | 10,170.00M | 7,772.00M | 6,296.00M | 11,898.00M | 12,694.00M | 12,200.00M | 11,755.00M | 10,199.00M | 8,456.00M | 6,739.00M | 5,924.60M | 5,582.40M | 6,286.10M | 6,671.70M |
| Accumulated OCI | -472.00M | -316.00M | 1,680.00M | 1,172.00M | 1,594.00M | 712.00M | 229.00M | 807.00M | 748.00M | 1,016.00M | 934.00M | 1,153.00M | 394.00M | -426.00M | -208.00M | -185.00M | -281.00M | -857.00M | 0.00M | 0.00M | 0.00M | 0.00M | 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 | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -1.40M |
| Total Shareholders’ Equity | 25,153.00M | 24,190.00M | 25,010.00M | 22,045.00M | 20,779.00M | 18,279.00M | 16,973.00M | 16,782.00M | 14,251.00M | 12,181.00M | 9,694.00M | 8,436.00M | 13,274.00M | 13,675.00M | 12,972.00M | 12,550.00M | 10,898.00M | 8,579.00M | 7,723.40M | 6,961.00M | 6,643.20M | 7,422.20M | 7,840.40M |
| Total Equity | 25,153.00M | 24,190.00M | 25,010.00M | 22,045.00M | 20,779.00M | 18,279.00M | 16,973.00M | 16,782.00M | 14,251.00M | 12,181.00M | 9,694.00M | 8,436.00M | 13,274.00M | 13,675.00M | 12,972.00M | 12,550.00M | 10,898.00M | 8,579.00M | 7,723.40M | 6,961.00M | 6,643.20M | 7,422.20M | 7,839.00M |
| Total Liabilities & Equity | 50,931.00M | 49,799.00M | 58,047.00M | 37,794.00M | 35,927.00M | 36,744.00M | 37,946.00M | 40,613.00M | 23,435.00M | 19,974.00M | 20,208.00M | 21,398.00M | 25,380.00M | 23,833.00M | 21,330.00M | 20,308.00M | 17,668.00M | 17,159.00M | 12,578.90M | 12,600.00M | 11,883.40M | 11,983.30M | 12,144.10M |
| Tangible Assets | 17,703.00M | 15,966.00M | 18,514.00M | 17,776.00M | 16,128.00M | 13,282.00M | 14,753.00M | 14,077.00M | 15,267.00M | 12,260.00M | 11,192.00M | 11,795.00M | 12,762.00M | 14,325.00M | 12,264.00M | 11,905.00M | 9,774.00M | 9,069.00M | 10,148.70M | 10,080.00M | 9,456.60M | 13,152.90M | 9,527.10M |
| Tangible Equity | -10,337.00M | -11,647.00M | -15,157.00M | 1,353.00M | -1,721.00M | -4,471.00M | -5,765.00M | -9,473.00M | 6,228.00M | 4,616.00M | 855.00M | -1,358.00M | 604.00M | 4,598.00M | 3,944.00M | 4,105.00M | 2,886.00M | 855.00M | 5,873.90M | 5,195.90M | 4,951.70M | 4,868.40M | 6,167.70M |
| Tangible Book Value | -10,337.00M | -11,647.00M | -15,157.00M | 1,353.00M | -1,721.00M | -4,471.00M | -5,765.00M | -9,473.00M | 6,228.00M | 4,616.00M | 855.00M | -1,358.00M | 604.00M | 4,598.00M | 3,944.00M | 4,105.00M | 2,886.00M | 855.00M | 5,873.90M | 5,195.90M | 4,951.70M | 4,868.40M | 6,167.70M |
| Total Investments | 323.00M | 320.00M | 351.00M | 307.00M | 368.00M | 191.00M | 220.00M | 165.00M | 3,186.00M | 1,665.00M | 137.00M | 141.00M | 139.00M | 1,184.00M | 1,187.00M | 1,611.00M | 132.00M | 130.00M | 1,042.00M | 1,829.90M | 1,578.90M | 2,528.60M | 221.40M |
| Net Debt | 8,445.00M | 10,538.00M | 11,854.00M | -974.00M | 1,675.00M | 2,590.00M | 3,550.00M | 6,133.00M | -3,605.00M | -2,155.00M | -327.00M | 2,266.00M | -308.00M | -2,657.00M | -838.00M | -547.00M | -436.00M | 1,515.00M | -994.00M | 127.60M | 323.90M | -30.80M | -49.50M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Working Capital | 4,255.0M | 4,485.0M | 4,430.0M | 5,299.0M | 3,213.0M | -206.0M | 93.0M | -1,242.0M | 4,073.0M | 2,365.0M | -252.0M | -88.0M | 2,184.0M | 4,845.0M | 4,200.0M | 4,107.0M | 2,721.0M | 1,618.0M | 4,718.9M | 3,960.5M | 2,831.9M | 2,638.0M | 3,151.0M |
| Total Capital | 37,561.0M | 37,838.0M | 41,965.0M | 26,432.0M | 26,358.0M | 23,601.0M | 24,863.0M | 26,360.0M | 14,251.0M | 12,181.0M | 11,567.0M | 12,555.0M | 16,869.0M | 15,641.0M | 15,107.0M | 14,696.0M | 12,980.0M | 12,278.0M | 9,438.0M | 9,084.5M | 8,265.3M | 7,919.0M | 8,332.7M |
| Capital Employed | 44,089.0M | 44,265.0M | 50,441.0M | 30,704.0M | 30,757.0M | 27,841.0M | 27,859.0M | 30,254.0M | 15,859.0M | 13,496.0M | 12,434.0M | 14,001.0M | 18,435.0M | 17,131.0M | 16,582.0M | 15,838.0M | 13,857.0M | 12,462.0M | 9,944.7M | 9,524.2M | 8,656.6M | 8,107.6M | 8,511.0M |
| Invested Capital | 34,082.0M | 35,191.0M | 37,301.0M | 21,422.0M | 22,937.0M | 21,322.0M | 20,939.0M | 23,352.0M | 10,646.0M | 10,026.0M | 9,367.0M | 11,051.0M | 13,218.0M | 10,824.0M | 12,360.0M | 12,229.0M | 10,686.0M | 10,318.0M | 6,517.0M | 7,312.5M | 7,088.7M | 7,460.9M | 7,790.9M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 5,077.00M | 2,818.00M | 3,270.00M | 3,195.00M | 2,852.00M | 2,010.00M | 1,990.00M | 3,608.00M | 5,301.00M | 4,408.00M | 2,292.00M | -6,816.00M | 99.00M | 1,599.00M | 1,647.00M | 3,393.00M | 3,357.00M | 2,858.00M | 1,509.60M | 1,769.50M | 1,106.90M | 1,588.60M | 2,553.50M |
| Depreciation & Amortization | 0.00M | 981.00M | 1,876.00M | 2,012.00M | 1,811.00M | 1,710.00M | 2,793.00M | 1,670.00M | 1,183.00M | 1,249.00M | 1,554.00M | 7,026.00M | 1,231.00M | 1,014.00M | 888.00M | 0.00M | 1,036.00M | 870.00M | 0.00M | 0.00M | 0.00M | 0.00M | 617.70M |
| Deferred Income Tax | 0.00M | -41.00M | 0.00M | 0.00M | -34.00M | -41.00M | -34.00M | -36.00M | 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 |
| Stock-Based Compensation | 0.00M | 41.00M | 0.00M | 41.00M | 34.00M | 41.00M | 34.00M | 36.00M | 26.00M | 38.00M | 54.00M | 46.00M | 45.00M | 56.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in Working Capital | -167.00M | -177.00M | -210.00M | -929.00M | -405.00M | -305.00M | -325.00M | -1,394.00M | 563.00M | 291.00M | 463.00M | -534.00M | 440.00M | 1,079.00M | 183.00M | -182.00M | 88.00M | 312.00M | -109.70M | -100.80M | -352.20M | -145.10M | 64.70M |
| Accounts Receivable | 0.00M | -167.00M | -630.00M | -167.00M | -504.00M | 540.00M | -428.00M | -138.00M | 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 |
| Inventory | 0.00M | -760.00M | 497.00M | -760.00M | -979.00M | -572.00M | -265.00M | 227.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -108.00M | -133.00M | 48.00M | -167.00M | 0.00M | 0.00M | 0.00M | 0.00M | 50.10M |
| Accounts Payable | 0.00M | 0.00M | 0.00M | 167.00M | 504.00M | -540.00M | 428.00M | 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 Working Capital | -167.00M | 750.00M | -77.00M | -169.00M | 574.00M | 267.00M | -60.00M | -1,483.00M | 563.00M | 291.00M | 463.00M | -534.00M | 440.00M | 1,079.00M | 291.00M | -49.00M | 40.00M | 479.00M | 0.00M | 0.00M | 0.00M | 0.00M | 14.60M |
| Other Non-Cash Items | -1,504.00M | 2,694.00M | -1,610.00M | -239.00M | -773.00M | -1,184.00M | -655.00M | -1,311.00M | 117.00M | -654.00M | -1,183.00M | 521.00M | 1,071.00M | 1,082.00M | -606.00M | 413.00M | -1,216.00M | -1,006.00M | 1,380.30M | 1,036.10M | 639.30M | 628.00M | -558.10M |
| Net Cash from Operating Activities | 3,406.00M | 5,421.00M | 3,326.00M | 4,080.00M | 3,519.00M | 2,272.00M | 3,837.00M | 2,609.00M | 5,981.00M | 4,045.00M | 3,126.00M | 197.00M | 1,610.00M | 3,760.00M | 2,112.00M | 3,624.00M | 3,265.00M | 3,034.00M | 2,780.20M | 2,704.80M | 1,394.00M | 2,071.50M | 2,677.80M |
| Capital Expenditures (PPE) | -628.00M | -485.00M | -508.00M | -277.00M | -820.00M | -612.00M | -478.00M | -444.00M | -704.00M | -725.00M | -342.00M | -2,956.00M | -1,549.00M | -1,515.00M | -1,650.00M | -1,612.00M | -827.00M | -1,238.00M | -1,046.30M | -748.10M | 0.00M | 0.00M | -313.20M |
| Acquisitions (Net) | 0.00M | 3.00M | -15,704.00M | 0.00M | -1,076.00M | 2.00M | 114.00M | -10,496.00M | -745.00M | 404.00M | 104.00M | 2,719.00M | -2,831.00M | 1,204.00M | 1,349.00M | 1,193.00M | -441.00M | -5,110.00M | -813.70M | -264.30M | -3.10M | 0.00M | 73.20M |
| Purchases of Investments | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -17.00M | -18.00M | -1,524.00M | -1,509.00M | -16.00M | -9.00M | -62.00M | -7.00M | -68.00M | -2,400.00M | -8.00M | -11.00M | -1,033.30M | -843.70M | -4.50M | -15.20M | -19.70M |
| Sales / Maturities of Investments | 0.00M | 0.00M | 978.00M | 0.00M | 0.00M | 0.00M | 27.00M | 3,199.00M | 404.00M | 0.00M | 13.00M | 4.00M | 1,038.00M | 17.00M | 595.00M | 925.00M | 20.00M | 1,281.00M | 1,496.70M | 499.00M | 2.10M | 0.00M | 4.70M |
| Other Investing Activities | -14,721.00M | -221.00M | -52.00M | -221.00M | 4.00M | -200.00M | -113.00M | 4.00M | -338.00M | 404.00M | -96.00M | -2,600.00M | 8.00M | -1,199.00M | -1,331.00M | -801.00M | 453.00M | 4.00M | 809.50M | 261.90M | -765.00M | -619.60M | 11.10M |
| Net Cash from Investing Activities | -15,349.00M | -482.00M | -15,286.00M | -498.00M | -1,892.00M | -610.00M | -467.00M | -7,755.00M | -2,907.00M | -1,830.00M | -337.00M | -2,842.00M | -3,396.00M | -1,500.00M | -1,105.00M | -2,695.00M | -803.00M | -5,074.00M | -587.10M | -1,095.20M | -770.50M | -634.80M | -243.90M |
| Net Debt Issuance | 8,191.00M | 0.00M | 12,458.00M | -1,377.00M | 148.00M | -2,723.00M | -1,468.00M | 7,015.00M | 0.00M | -1,873.00M | -1,888.00M | 421.00M | 1,182.00M | 251.00M | -13.00M | 0.00M | -1,560.00M | 1,516.00M | 26.00M | 377.40M | 1,067.50M | -31.90M | -26.30M |
| Long-Term Debt Issuance | -4,267.00M | 0.00M | 12,458.00M | -1,377.00M | 148.00M | -2,723.00M | -1,468.00M | 7,015.00M | 0.00M | -1,873.00M | -1,888.00M | 421.00M | 1,182.00M | 251.00M | -13.00M | 0.00M | -1,560.00M | 1,516.00M | 26.00M | 377.40M | 1,067.50M | -31.90M | -26.30M |
| Short-Term Debt Issuance | 12,458.00M | 0.00M | 0.00M | 0.00M | 0.00M | -273.00M | 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 | -46.00M | -43.00M | -46.00M | -43.00M | -45.00M | -34.00M | -28.00M | -16.00M | -18.00M | 121.00M | -118.00M | 80.00M | -49.00M | 0.00M | -21.00M | -9.00M | 0.00M | 0.00M | -538.00M | -1,191.30M | -1,591.10M | -1,226.90M | -399.70M |
| Common Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 1.00M | 4.00M | 7.00M | 214.00M | 37.00M | 102.00M | 21.00M | 7.00M | 0.00M | 2.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Repurchased | -46.00M | -43.00M | -46.00M | -43.00M | -45.00M | -34.00M | -29.00M | -20.00M | -25.00M | -93.00M | -155.00M | -22.00M | -70.00M | -7.00M | -21.00M | -9.00M | 0.00M | 0.00M | -538.00M | -1,191.30M | -1,591.10M | -1,226.90M | -399.70M |
| 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 | -2.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Dividends Paid | -943.00M | -694.00M | -694.00M | -576.00M | -397.00M | -497.00M | -815.00M | -2,384.00M | -1,589.00M | -483.00M | 0.00M | 0.00M | -544.00M | -392.00M | -685.00M | -739.00M | -602.00M | -451.00M | -504.00M | -324.60M | -444.50M | -496.00M | -409.10M |
| Common Dividends Paid | -943.00M | -694.00M | -694.00M | -576.00M | -397.00M | -497.00M | -815.00M | -2,384.00M | -1,589.00M | -483.00M | 0.00M | 0.00M | -544.00M | -392.00M | -685.00M | -739.00M | -602.00M | -451.00M | -504.00M | -324.60M | -444.50M | -496.00M | -409.10M |
| 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 | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Financing Activities | -62.00M | -92.00M | -89.00M | -89.00M | -93.00M | -82.00M | -83.00M | -67.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 2.00M | 190.00M | 0.00M | 0.00M | 126.20M | 67.30M | 72.90M | -28.30M |
| Net Cash from Financing Activities | 7,140.00M | -829.00M | 11,629.00M | -2,085.00M | -387.00M | -3,336.00M | -2,394.00M | 4,548.00M | -1,607.00M | -2,235.00M | -2,006.00M | 501.00M | 589.00M | -141.00M | -719.00M | -746.00M | -2,162.00M | 1,065.00M | -1,016.40M | -1,012.30M | -900.80M | -1,681.90M | -863.40M |
| Effect of FX on Cash | -40.00M | -36.00M | -15.00M | -35.00M | 29.00M | 29.00M | -60.00M | 1.00M | -17.00M | -25.00M | -87.00M | -3.00M | 31.00M | -49.00M | -8.00M | -10.00M | 34.00M | 14.00M | -28.10M | -1.90M | -13.20M | 11.60M | -2.10M |
| Net Change in Cash | -4,843.00M | 4,074.00M | -346.00M | 1,462.00M | 1,269.00M | -1,645.00M | 916.00M | -597.00M | 1,450.00M | -45.00M | 696.00M | -2,147.00M | -1,166.00M | 2,070.00M | 280.00M | 173.00M | 334.00M | -961.00M | 1,148.60M | 595.40M | -290.50M | -233.60M | 1,568.40M |
| Cash at Beginning of Period | 18,330.00M | 20,524.00M | 5,010.00M | 3,548.00M | 2,279.00M | 3,924.00M | 3,008.00M | 3,605.00M | 2,155.00M | 2,200.00M | 1,504.00M | 3,651.00M | 4,817.00M | 2,747.00M | 2,467.00M | 2,294.00M | 1,960.00M | 2,921.00M | 1,772.00M | 1,176.60M | 2,668.70M | 2,902.30M | 1,333.90M |
| Cash at End of Period | 13,487.00M | 24,598.00M | 4,664.00M | 5,010.00M | 3,548.00M | 2,279.00M | 3,924.00M | 3,008.00M | 3,605.00M | 2,155.00M | 2,200.00M | 1,504.00M | 3,651.00M | 4,817.00M | 2,747.00M | 2,467.00M | 2,294.00M | 1,960.00M | 2,920.60M | 1,772.00M | 2,378.20M | 2,668.70M | 2,902.30M |
| Operating Cash Flow | 3,406.00M | 5,421.00M | 3,326.00M | 4,080.00M | 3,519.00M | 2,272.00M | 3,837.00M | 2,609.00M | 5,981.00M | 4,045.00M | 3,126.00M | 197.00M | 1,610.00M | 3,760.00M | 2,112.00M | 3,624.00M | 3,265.00M | 3,034.00M | 2,780.20M | 2,704.80M | 1,394.00M | 2,071.50M | 2,677.80M |
| Capital Expenditure | -628.00M | -485.00M | -565.00M | -501.00M | -820.00M | -612.00M | -478.00M | -444.00M | -704.00M | -725.00M | -342.00M | -2,956.00M | -1,549.00M | -1,515.00M | -1,650.00M | -1,612.00M | -827.00M | -1,238.00M | -1,046.30M | -748.10M | 0.00M | 0.00M | -313.20M |
| Free Cash Flow | 2,778.00M | 4,936.00M | 2,761.00M | 3,579.00M | 2,699.00M | 1,660.00M | 3,359.00M | 2,165.00M | 5,277.00M | 3,320.00M | 2,784.00M | -2,759.00M | 61.00M | 2,245.00M | 462.00M | 2,012.00M | 2,438.00M | 1,796.00M | 1,733.90M | 1,956.70M | 1,394.00M | 2,071.50M | 2,364.60M |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 6,763.00M | 5,211.00M | 5,566.00M | 5,207.00M | 4,663.00M | 3,720.00M | 4,837.00M | 6,114.00M | 6,286.00M | 5,415.00M | 3,635.00M | 210.00M | 409.00M | 1,753.00M | 2,548.00M | 3,509.00M | 4,530.00M | 3,714.00M | 1,737.50M | 2,290.30M | 1,466.00M | 1,824.50M | 7,731.20M |
| (-) Tax Adjustment | 1,404.09M | 854.45M | 862.06M | 1,223.03M | 1,051.72M | 618.82M | 824.78M | 1,429.70M | 1,642.51M | 1,895.25M | 1,272.25M | 39.33M | 0.00M | 613.55M | 765.04M | 1,080.27M | 1,133.53M | 918.05M | 0.00M | 708.15M | 472.18M | 539.75M | 2,552.33M |
| (-) Change In Working Capital | -167.00M | -177.00M | -210.00M | -929.00M | -405.00M | -305.00M | -325.00M | -1,394.00M | 563.00M | 291.00M | 463.00M | -534.00M | 440.00M | 1,079.00M | 183.00M | -182.00M | 88.00M | 312.00M | -109.70M | -100.80M | -352.20M | -145.10M | 64.70M |
| (-) Capital Expenditure | -628.00M | -485.00M | -565.00M | -501.00M | -820.00M | -612.00M | -478.00M | -444.00M | -704.00M | -725.00M | -342.00M | -2,956.00M | -1,549.00M | -1,515.00M | -1,650.00M | -1,612.00M | -827.00M | -1,238.00M | -1,046.30M | -748.10M | 0.00M | 0.00M | -313.20M |
| Unlevered Free Cash Flow | 4,897.91M | 4,048.55M | 4,348.94M | 4,411.97M | 3,196.28M | 2,794.18M | 3,859.22M | 5,634.30M | 3,376.49M | 2,503.75M | 1,557.75M | -2,251.33M | -1,580.00M | -1,454.55M | -50.04M | 998.73M | 2,481.47M | 1,245.95M | 800.90M | 934.85M | 1,346.02M | 1,429.85M | 4,800.97M |
| (-) Net Interest Income After Taxes | -213.94M | 56.85M | 54.09M | -8.42M | -110.75M | -172.57M | -201.57M | -36.01M | 0.00M | -55.25M | -87.75M | -154.42M | -155.00M | -82.55M | -50.38M | -66.45M | -50.98M | 144.54M | -604.80M | -267.34M | -212.80M | -237.02M | 39.99M |
| Net Debt Issuance | 8,191.00M | 0.00M | 12,458.00M | -1,377.00M | 148.00M | -2,723.00M | -1,468.00M | 7,015.00M | 0.00M | -1,873.00M | -1,888.00M | 421.00M | 1,182.00M | 251.00M | -13.00M | 0.00M | -1,560.00M | 1,516.00M | 26.00M | 377.40M | 1,067.50M | -31.90M | -26.30M |
| Levered Free Cash Flow | 13,302.85M | 3,991.70M | 16,752.85M | 3,043.39M | 3,455.03M | 243.74M | 2,592.79M | 12,685.31M | 3,376.49M | 686.00M | -242.50M | -1,675.91M | -243.00M | -1,121.00M | -12.66M | 1,065.18M | 972.45M | 2,617.41M | 1,431.70M | 1,579.60M | 2,626.32M | 1,634.97M | 4,734.68M |