Page: Company Financials
Heineken N.V.
$67.00
-0.30 (-0.45%)
As of: 2026-01-27
Master Data Export
Enterprise Value
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Price | 79.25 | 92.62 | 87.44 | 100.53 | 86.64 | 96.61 | 81.61 | 86.03 | 77.02 | 73.42 | 55.69 | 49.40 | 45.81 | 38.62 | 35.78 | 29.85 | 27.16 | 43.86 | 34.59 | 26.16 | 25.77 | 24.44 | 32.39 | 45.11 | 51.28 | 39.23 |
| Market Capitalization | 44,503.84M | 52,428.86M | 50,327.44M | 57,871.96M | 49,853.85M | 55,415.53M | 46,549.44M | 49,081.39M | 43,913.02M | 42,022.82M | 32,053.17M | 28,431.55M | 26,386.68M | 22,620.99M | 20,157.99M | 14,603.99M | 13,307.71M | 21,487.84M | 16,948.22M | 12,817.74M | 12,626.65M | 11,972.53M | 15,870.28M | 22,102.75M | 25,125.90M | 19,221.70M |
| (-) Cash & Equivalents | 2,313.50M | 2,272.50M | 2,827.00M | 2,607.50M | 4,133.00M | 1,786.00M | 2,477.00M | 2,608.00M | 2,795.50M | 2,032.00M | 746.50M | 1,038.00M | 879.50M | 737.50M | 630.00M | 325.00M | 174.50M | 178.75M | 343.50M | 146.25M | 157.00M | 335.00M | 170.00M | 1,059.75M | 892.00M | 582.50M |
| (+) Total Debt | 17,773.00M | 19,047.50M | 16,479.50M | 16,929.50M | 19,591.50M | 17,445.50M | 15,126.50M | 15,487.00M | 14,601.50M | 12,029.00M | 11,789.00M | 12,850.00M | 11,395.50M | 9,172.50M | 9,644.00M | 5,438.75M | 2,513.25M | 669.00M | 833.00M | 813.75M | 825.50M | 893.50M | 303.75M | 816.50M | 778.75M | 245.00M |
| Enterprise Value | 59,963.34M | 69,203.86M | 63,979.94M | 72,193.96M | 65,312.35M | 71,075.03M | 59,198.94M | 61,960.39M | 55,719.02M | 52,019.82M | 43,095.67M | 40,243.55M | 36,902.68M | 31,055.99M | 29,171.99M | 19,717.74M | 15,646.46M | 21,978.09M | 17,437.72M | 13,485.24M | 13,295.15M | 12,531.03M | 16,004.03M | 21,859.50M | 25,012.65M | 18,884.20M |
Income Statement
| Metric | TTM | TTM-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 52,749M | 55,196M | 29,821M | 30,362M | 28,719M | 22,137M | 19,715M | 23,969M | 22,489M | 21,609M | 20,792M | 20,511M | 19,257M | 19,203M | 18,383M | 17,123M | 16,133M | 14,742M | 14,319M | 12,564M | 11,829M | 10,796M | 10,005M | 9,255M | 10,293M | 9,163M | 8,107M | 7,148M |
| Cost of Revenue | 41,677M | 47,997M | 19,313M | 19,659M | 17,357M | 13,566M | 12,568M | 14,139M | 13,570M | 12,920M | 12,605M | 12,630M | 11,762M | 11,904M | 11,849M | 10,966M | 10,291M | 9,650M | 9,548M | 8,162M | 7,376M | 6,657M | 6,027M | 5,557M | 5,558M | 4,919M | 4,324M | 3,805M |
| Gross Profit | 11,073M | 7,199M | 10,508M | 10,703M | 11,362M | 8,571M | 7,147M | 9,830M | 8,919M | 8,689M | 8,187M | 7,881M | 7,495M | 7,299M | 6,534M | 6,157M | 5,842M | 5,092M | 4,771M | 4,402M | 4,453M | 4,139M | 3,978M | 3,698M | 4,735M | 4,244M | 3,783M | 3,343M |
| Gross Profit Margin | 21.0% | 13.0% | 35.2% | 35.3% | 39.6% | 38.7% | 36.3% | 41.0% | 39.7% | 40.2% | 39.4% | 38.4% | 38.9% | 38.0% | 35.5% | 36.0% | 36.2% | 34.5% | 33.3% | 35.0% | 37.6% | 38.3% | 39.8% | 40.0% | 46.0% | 46.3% | 46.7% | 46.8% |
| R&D Expenses | 252M | 193M | 0M | 252M | 193M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M | 0M |
| SG&A Expenses | 5,654M | 8,198M | 0M | 4,392M | 7,151M | 5,144M | 5,018M | 6,054M | 4,044M | 3,809M | 3,567M | 3,577M | 3,319M | 3,366M | 0M | 0M | 2,680M | 2,379M | 2,415M | 2,165M | 2,241M | 2,180M | 1,957M | 1,832M | 1,642M | 0M | 0M | 0M |
| Operating Expenses | 13,065M | 10,817M | 6,991M | 7,474M | 7,281M | 5,266M | 5,128M | 6,130M | 5,668M | 5,395M | 5,428M | 4,701M | 4,656M | 4,675M | 4,352M | 4,006M | 3,798M | 3,462M | 3,621M | 2,929M | 3,027M | 2,890M | 2,730M | 2,476M | 3,453M | 3,119M | 2,862M | 2,544M |
| Operating Income (EBIT) | -1,993M | -3,618M | 3,517M | 3,229M | 4,081M | 3,305M | 2,019M | 3,700M | 3,251M | 3,294M | 2,759M | 3,180M | 2,839M | 2,624M | 2,182M | 2,151M | 2,044M | 1,630M | 1,150M | 1,473M | 1,426M | 1,249M | 1,248M | 1,222M | 1,282M | 1,125M | 921M | 799M |
| Operating Income Margin | -3.8% | -6.6% | 11.8% | 10.6% | 14.2% | 14.9% | 10.2% | 15.4% | 14.5% | 15.2% | 13.3% | 15.5% | 14.7% | 13.7% | 11.9% | 12.6% | 12.7% | 11.1% | 8.0% | 11.7% | 12.1% | 11.6% | 12.5% | 13.2% | 12.5% | 12.3% | 11.4% | 11.2% |
| Interest Income | 185M | 145M | 110M | 90M | 74M | 49M | 50M | 75M | 71M | 72M | 60M | 60M | 399M | 47M | 62M | 70M | 100M | 90M | 91M | 67M | 52M | 60M | 78M | 0M | 0M | 0M | 0M | 0M |
| Interest Expense | 1,320M | 989M | 680M | 640M | 458M | 462M | 497M | 529M | 492M | 468M | 419M | 412M | 511M | 640M | 558M | 501M | 590M | 633M | 469M | 168M | 185M | 199M | 180M | 140M | 109M | 71M | 0M | 0M |
| Net Interest Income | -1,135M | -844M | -570M | -550M | -384M | -413M | -447M | -454M | -421M | -396M | -359M | -352M | -112M | -593M | -496M | -431M | -490M | -543M | -378M | -101M | -133M | -139M | -102M | -140M | -109M | -71M | 0M | 0M |
| Unusual Items | 6,875M | 12,130M | -940M | -157M | 250M | 1,192M | -1,384M | -126M | 16M | 10M | 12M | 10M | -287M | 76M | 1,948M | 305M | 413M | 341M | -177M | 29M | 417M | 59M | -218M | 101M | 48M | 45M | -7M | 10M |
| EBT Excluding Unusual Items | -3,128M | -4,462M | 2,947M | 2,679M | 3,697M | 2,892M | 1,572M | 3,246M | 2,830M | 2,898M | 2,400M | 2,828M | 2,727M | 2,031M | 1,686M | 1,720M | 1,554M | 1,087M | 772M | 1,372M | 1,293M | 1,110M | 1,146M | 1,082M | 1,173M | 1,054M | 921M | 799M |
| Pre-Tax Income | 3,748M | 7,668M | 2,007M | 2,522M | 3,947M | 4,084M | 188M | 3,120M | 2,846M | 2,908M | 2,412M | 2,838M | 2,440M | 2,107M | 3,634M | 2,025M | 1,967M | 1,428M | 595M | 1,401M | 1,710M | 1,169M | 928M | 1,183M | 1,221M | 1,099M | 914M | 809M |
| Pre-Tax Margin | 7.1% | 13.9% | 6.7% | 8.3% | 13.7% | 18.4% | 1.0% | 13.0% | 12.7% | 13.5% | 11.6% | 13.8% | 12.7% | 11.0% | 19.8% | 11.8% | 12.2% | 9.7% | 4.2% | 11.2% | 14.5% | 10.8% | 9.3% | 12.8% | 11.9% | 12.0% | 11.3% | 11.3% |
| Income Tax Expense | 1,061M | 1,579M | 846M | 121M | 1,131M | 799M | 245M | 910M | 741M | 755M | 673M | 697M | 732M | 520M | 525M | 465M | 399M | 286M | 248M | 429M | 365M | 300M | 306M | 319M | 364M | 327M | 277M | 265M |
| Net Income | 2,498M | 6,128M | 978M | 2,304M | 2,682M | 3,324M | -204M | 2,166M | 1,903M | 1,935M | 1,540M | 1,892M | 1,516M | 1,364M | 2,949M | 1,430M | 1,436M | 1,018M | 209M | 807M | 1,211M | 761M | 537M | 798M | 857M | 767M | 621M | 516M |
| Net Income Margin | 4.7% | 11.1% | 3.3% | 7.6% | 9.3% | 15.0% | -1.0% | 9.0% | 8.5% | 9.0% | 7.4% | 9.2% | 7.9% | 7.1% | 16.0% | 8.4% | 8.9% | 6.9% | 1.5% | 6.4% | 10.2% | 7.0% | 5.4% | 8.6% | 8.3% | 8.4% | 7.7% | 7.2% |
| Depreciation & Amortization | 4,945M | 4,219M | 2,605M | 2,202M | 2,005M | 1,840M | 1,907M | 1,887M | 1,539M | 1,522M | 1,531M | 1,468M | 1,368M | 1,412M | 1,316M | 1,168M | 1,118M | 1,083M | 1,206M | 764M | 786M | 768M | 773M | 644M | 529M | 476M | 468M | 428M |
| EBITDA | 2,953M | 601M | 6,122M | 5,431M | 6,086M | 5,145M | 3,926M | 5,587M | 4,790M | 4,816M | 4,290M | 4,648M | 4,207M | 4,036M | 3,498M | 3,319M | 3,162M | 2,713M | 2,356M | 2,237M | 2,212M | 2,017M | 2,021M | 1,866M | 1,811M | 1,601M | 1,389M | 1,227M |
| EBITDA Margin | 5.6% | 1.1% | 20.5% | 17.9% | 21.2% | 23.2% | 19.9% | 23.3% | 21.3% | 22.3% | 20.6% | 22.7% | 21.8% | 21.0% | 19.0% | 19.4% | 19.6% | 18.4% | 16.5% | 17.8% | 18.7% | 18.7% | 20.2% | 20.2% | 17.6% | 17.5% | 17.1% | 17.2% |
| NOPAT | -1,428M | -2,873M | 2,034M | 3,074M | 2,912M | 2,658M | -612M | 2,621M | 2,405M | 2,439M | 1,989M | 2,399M | 1,987M | 1,976M | 1,867M | 1,657M | 1,629M | 1,304M | 671M | 1,022M | 1,122M | 928M | 836M | 892M | 900M | 790M | 642M | 537M |
| NOPAT Margin | -2.7% | -5.2% | 6.8% | 10.1% | 10.1% | 12.0% | -3.1% | 10.9% | 10.7% | 11.3% | 9.6% | 11.7% | 10.3% | 10.3% | 10.2% | 9.7% | 10.1% | 8.8% | 4.7% | 8.1% | 9.5% | 8.6% | 8.4% | 9.6% | 8.7% | 8.6% | 7.9% | 7.5% |
| Owner's Earnings | 3,403M | 6,180M | 1,118M | 1,829M | 2,676M | 3,567M | 63M | 1,952M | 1,554M | 1,761M | 1,314M | 1,722M | 1,390M | 1,407M | 3,017M | 1,742M | 1,850M | 1,324M | 155M | 426M | 1,120M | 655M | 653M | 805M | 655M | 647M | 671M | 503M |
| Owner's Earnings Margin | 6.5% | 11.2% | 3.7% | 6.0% | 9.3% | 16.1% | 0.3% | 8.1% | 6.9% | 8.1% | 6.3% | 8.4% | 7.2% | 7.3% | 16.4% | 10.2% | 11.5% | 9.0% | 1.1% | 3.4% | 9.5% | 6.1% | 6.5% | 8.7% | 6.4% | 7.1% | 8.3% | 7.0% |
| EPS (Basic) | 4.43 | 10.68 | 1.75 | 4.09 | 4.66 | 5.77 | -0.35 | 3.78 | 3.34 | 3.39 | 2.70 | 3.31 | 2.64 | 2.37 | 5.07 | 2.44 | 2.57 | 2.08 | 0.43 | 1.65 | 2.47 | 1.55 | 1.31 | 1.63 | 1.62 | 1.46 | 1.26 | 1.05 |
| EPS (Diluted) | 4.44 | 10.68 | 1.74 | 4.09 | 4.66 | 5.77 | -0.35 | 3.77 | 3.33 | 3.39 | 2.70 | 3.30 | 2.63 | 2.37 | 5.12 | 2.44 | 2.55 | 2.08 | 0.43 | 1.65 | 2.47 | 1.55 | 1.10 | 2.04 | 1.75 | 1.57 | 1.58 | 1.05 |
| Shares (Basic) | 562M | 573M | 560M | 563M | 576M | 576M | 576M | 574M | 570M | 570M | 570M | 572M | 575M | 575M | 575M | 585M | 562M | 489M | 489M | 489M | 490M | 490M | 490M | 392M | 490M | 490M | 392M | 490M |
| Shares (Diluted) | 563M | 574M | 561M | 564M | 576M | 576M | 576M | 574M | 571M | 571M | 570M | 573M | 576M | 576M | 576M | 586M | 563M | 490M | 490M | 490M | 490M | 490M | 490M | 392M | 490M | 490M | 392M | 490M |
Balance Sheet
| Metric | MRQ | MRQ-1 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Cash Equivalents | 2,066.00M | 2,350.00M | 2,350.00M | 2,377.00M | 2,765.00M | 3,248.00M | 4,000.00M | 1,821.00M | 2,903.00M | 2,442.00M | 3,035.00M | 3,232.00M | 668.00M | 1,290.00M | 1,037.00M | 813.00M | 610.00M | 520.00M | 698.00M | 715.00M | 1,374.00M | 585.00M | 628.00M | 1,340.00M | 680.00M | 1,146.00M | 801.00M | 1,165.00M |
| Short-Term Investments | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 16.00M | 13.00M | 11.00M | 11.00M | 14.00M | 17.00M | 15.00M | 14.00M | 105.00M | 12.00M | 23.00M | 76.00M | 76.00M | 0.00M | 29.00M | 23.00M | 42.00M |
| Cash & Short-Term Investments | 2,066.00M | 2,350.00M | 2,350.00M | 2,377.00M | 2,765.00M | 3,248.00M | 4,000.00M | 1,821.00M | 2,903.00M | 2,442.00M | 3,035.00M | 3,248.00M | 681.00M | 1,301.00M | 1,048.00M | 827.00M | 627.00M | 535.00M | 712.00M | 820.00M | 1,386.00M | 608.00M | 704.00M | 1,416.00M | 680.00M | 1,175.00M | 824.00M | 1,207.00M |
| Net Receivables | 5,207.00M | 4,191.00M | 4,191.00M | 3,376.00M | 3,120.00M | 3,254.00M | 2,424.00M | 3,738.00M | 3,484.00M | 3,341.00M | 3,099.00M | 2,906.00M | 2,766.00M | 2,427.00M | 2,537.00M | 2,260.00M | 2,273.00M | 2,310.00M | 2,504.00M | 1,769.00M | 1,826.00M | 1,682.00M | 1,499.00M | 1,379.00M | 1,270.00M | 1,192.00M | 1,024.00M | 0.00M |
| Inventory | 3,463.00M | 3,572.00M | 3,572.00M | 3,721.00M | 3,250.00M | 2,438.00M | 1,958.00M | 2,213.00M | 1,920.00M | 1,814.00M | 1,618.00M | 1,702.00M | 1,634.00M | 1,512.00M | 1,596.00M | 1,352.00M | 1,206.00M | 1,010.00M | 1,246.00M | 1,007.00M | 893.00M | 883.00M | 779.00M | 834.00M | 0.00M | 692.00M | 550.00M | 490.00M |
| Other Current Assets | 343.00M | 224.00M | 224.00M | 1,393.00M | 1,395.00M | 1,095.00M | 891.00M | 1,075.00M | 1,324.00M | 988.00M | 853.00M | 833.00M | 1,413.00M | 638.00M | 2,661.00M | 2,359.00M | 6.00M | 109.00M | 56.00M | 21.00M | 41.00M | 0.00M | -337.00M | 0.00M | 0.00M | 29.00M | 0.00M | 903.00M |
| Total Current Assets | 11,079.00M | 10,337.00M | 10,337.00M | 10,867.00M | 10,530.00M | 10,035.00M | 9,273.00M | 8,847.00M | 9,631.00M | 8,585.00M | 8,605.00M | 8,689.00M | 6,494.00M | 5,878.00M | 7,842.00M | 6,798.00M | 4,112.00M | 3,964.00M | 4,518.00M | 3,617.00M | 4,146.00M | 3,173.00M | 2,645.00M | 3,629.00M | 1,950.00M | 3,088.00M | 2,398.00M | 2,600.00M |
| Property, Plant & Equipment | 14,066.00M | 14,677.00M | 14,677.00M | 14,772.00M | 13,623.00M | 12,401.00M | 11,551.00M | 13,269.00M | 11,359.00M | 11,117.00M | 9,232.00M | 9,552.00M | 8,718.00M | 8,454.00M | 8,792.00M | 7,860.00M | 7,687.00M | 6,017.00M | 6,314.00M | 5,362.00M | 4,944.00M | 5,067.00M | 5,127.00M | 4,995.00M | 4,094.00M | 4,158.00M | 3,891.00M | 3,417.00M |
| Goodwill | 0.00M | 12,301.00M | 12,301.00M | 12,238.00M | 12,250.00M | 11,810.00M | 10,678.00M | 11,465.00M | 11,194.00M | 11,205.00M | 11,029.00M | 11,324.00M | 10,396.00M | 10,016.00M | 10,780.00M | 7,530.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 2,138.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Intangible Assets | 20,216.00M | 9,400.00M | 9,400.00M | 9,543.00M | 21,408.00M | 20,762.00M | 15,767.00M | 17,769.00M | 6,265.00M | 6,465.00M | 6,395.00M | 6,859.00M | 5,945.00M | 5,918.00M | 6,945.00M | 3,305.00M | 10,890.00M | 7,135.00M | 7,109.00M | 2,541.00M | 2,449.00M | 242.00M | 1,499.00M | 1,379.00M | 1,270.00M | 0.00M | 0.00M | 0.00M |
| Long-Term Investments | 3,657.00M | 4,755.00M | 4,755.00M | 0.00M | 5,281.00M | 5,035.00M | 5,140.00M | 5,961.00M | 2,522.00M | 2,322.00M | 2,593.00M | 2,273.00M | 2,289.00M | 2,134.00M | 2,270.00M | 2,019.00M | 3,225.00M | 2,314.00M | 2,132.00M | 885.00M | 972.00M | 818.00M | 779.00M | 1,122.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Tax Assets | 0.00M | 2,560.00M | 2,560.00M | 0.00M | 1,631.00M | 1,653.00M | 1,662.00M | 1,651.00M | 1,327.00M | 2,408.00M | 1,557.00M | 1,423.00M | 661.00M | 508.00M | 564.00M | 474.00M | 429.00M | 561.00M | 259.00M | 336.00M | 395.00M | 286.00M | -779.00M | -1,122.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Non-Current Assets | 2,616.00M | 477.00M | 477.00M | 8,435.00M | -11,789.00M | -11,418.00M | -10,303.00M | -11,026.00M | -1,327.00M | -2,408.00M | -1,557.00M | -1,423.00M | -661.00M | -508.00M | 1,091.00M | 1,231.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 779.00M | 1,122.00M | 835.00M | 0.00M | 0.00M | 0.00M |
| Other Assets | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 1,686.00M | 1,677.00M | 1,935.00M | 1,792.00M | 1,396.00M | 1,320.00M | 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 | 40,555.00M | 44,170.00M | 44,170.00M | 44,988.00M | 42,404.00M | 40,243.00M | 34,495.00M | 39,089.00M | 33,026.00M | 32,786.00M | 31,184.00M | 31,800.00M | 28,744.00M | 27,842.00M | 30,442.00M | 22,419.00M | 22,231.00M | 16,027.00M | 15,814.00M | 9,124.00M | 8,760.00M | 8,551.00M | 7,405.00M | 7,496.00M | 6,199.00M | 4,158.00M | 3,891.00M | 3,417.00M |
| Total Assets | 51,634.00M | 54,507.00M | 54,507.00M | 55,855.00M | 52,934.00M | 50,278.00M | 43,768.00M | 47,936.00M | 42,657.00M | 41,371.00M | 39,789.00M | 40,489.00M | 35,238.00M | 33,720.00M | 38,284.00M | 29,217.00M | 26,343.00M | 19,991.00M | 20,332.00M | 12,741.00M | 12,906.00M | 11,724.00M | 10,050.00M | 11,125.00M | 8,149.00M | 7,246.00M | 6,289.00M | 6,017.00M |
| Accounts Payable | 9,554.00M | 9,912.00M | 5,986.00M | 5,735.00M | 5,852.00M | 4,631.00M | 3,663.00M | 4,720.00M | 4,016.00M | 3,430.00M | 2,934.00M | 2,797.00M | 2,339.00M | 2,140.00M | 2,244.00M | 2,009.00M | 1,660.00M | 3,696.00M | 3,846.00M | 2,525.00M | 2,496.00M | 2,451.00M | 804.00M | 968.00M | 879.00M | 0.00M | 0.00M | 0.00M |
| Short-Term Debt | 4,090.00M | 3,266.00M | 3,266.00M | 3,886.00M | 3,148.00M | 2,977.00M | 3,317.00M | 3,431.00M | 2,358.00M | 3,212.00M | 3,650.00M | 4,347.00M | 2,261.00M | 2,369.00M | 2,038.00M | 1,182.00M | 946.00M | 1,301.00M | 969.00M | 1,155.00M | 1,241.00M | 1,060.00M | 946.00M | 853.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Tax Payables | 0.00M | 307.00M | 307.00M | 332.00M | 352.00M | 268.00M | 259.00M | 283.00M | 245.00M | 310.00M | 352.00M | 379.00M | 1,192.00M | 1,121.00M | 1,056.00M | 872.00M | 241.00M | 132.00M | 85.00M | 89.00M | 149.00M | 141.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Deferred Revenue | 0.00M | 0.00M | 0.00M | 345.00M | 377.00M | 291.00M | 272.00M | 295.00M | -2,358.00M | -3,212.00M | -3,650.00M | -4,347.00M | -2,266.00M | -2,373.00M | 3,693.00M | 0.00M | 241.00M | 294.00M | -726.00M | -923.00M | -970.00M | -819.00M | 378.00M | 433.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Current Liabilities | 1,220.00M | 753.00M | 4,365.00M | 2,249.00M | 2,503.00M | 2,147.00M | 1,934.00M | 2,073.00M | 2,312.00M | 1,994.00M | 2,069.00M | 1,621.00M | 1,804.00M | 1,621.00M | 3,197.00M | 2,755.00M | 2,728.00M | 227.00M | 158.00M | 442.00M | 122.00M | 100.00M | 522.00M | 656.00M | 1,759.00M | 2,235.00M | 1,892.00M | 1,860.00M |
| Total Current Liabilities | 14,864.00M | 14,238.00M | 13,924.00M | 12,547.00M | 12,232.00M | 10,314.00M | 9,445.00M | 10,802.00M | 6,573.00M | 5,734.00M | 5,355.00M | 4,797.00M | 5,330.00M | 4,878.00M | 12,228.00M | 6,818.00M | 5,816.00M | 5,650.00M | 4,332.00M | 3,288.00M | 3,038.00M | 2,933.00M | 2,650.00M | 2,910.00M | 2,638.00M | 2,235.00M | 1,892.00M | 1,860.00M |
| Long-Term Debt | 12,072.00M | 12,753.00M | 12,753.00M | 13,085.00M | 11,988.00M | 12,790.00M | 13,680.00M | 12,363.00M | 12,628.00M | 12,166.00M | 10,954.00M | 10,658.00M | 9,489.00M | 9,792.00M | 11,283.00M | 7,962.00M | 7,685.00M | 7,401.00M | 9,084.00M | 1,521.00M | 2,091.00M | 2,189.00M | 2,642.00M | 2,721.00M | 1,215.00M | 797.00M | 875.00M | 490.00M |
| Capital Lease Obligations | 1,424.00M | 1,344.00M | 1,344.00M | 1,267.00M | 905.00M | 850.00M | 936.00M | 1,003.00M | 0.00M | 0.00M | 0.00M | 10.00M | 15.00M | 9.00M | 38.00M | 39.00M | 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 | 1,861.00M | 3,451.00M | 3,451.00M | 2,213.00M | 3,151.00M | 2,942.00M | 1,882.00M | 2,426.00M | 2,132.00M | 3,135.00M | 2,218.00M | 2,323.00M | 1,503.00M | 1,444.00M | 1,790.00M | 894.00M | 991.00M | 786.00M | 637.00M | 478.00M | 471.00M | 393.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Non-Current Liabilities | 1,177.00M | 1,195.00M | 1,195.00M | 2,514.00M | 4,416.00M | 4,387.00M | 3,639.00M | 4,524.00M | 3,386.00M | 3,889.00M | 1,725.00M | 1,602.00M | 3,347.00M | 1,737.00M | 2,320.00M | 1,987.00M | 1,686.00M | 990.00M | 1,032.00M | 881.00M | 907.00M | 38.00M | 1,248.00M | 1,367.00M | 981.00M | 1,046.00M | 1,002.00M | 801.00M |
| Total Non-Current Liabilities | 16,534.00M | 18,743.00M | 18,743.00M | 19,079.00M | 20,460.00M | 20,969.00M | 20,137.00M | 20,316.00M | 18,146.00M | 19,190.00M | 14,897.00M | 14,593.00M | 14,354.00M | 12,982.00M | 15,431.00M | 10,882.00M | 10,362.00M | 9,177.00M | 10,753.00M | 2,880.00M | 3,469.00M | 2,620.00M | 3,890.00M | 4,088.00M | 2,196.00M | 1,843.00M | 1,877.00M | 1,291.00M |
| Total Liabilities | 31,398.00M | 32,981.00M | 32,667.00M | 31,626.00M | 32,692.00M | 31,283.00M | 29,582.00M | 31,118.00M | 24,719.00M | 24,924.00M | 20,252.00M | 19,390.00M | 19,684.00M | 17,860.00M | 27,659.00M | 17,700.00M | 16,178.00M | 14,827.00M | 15,085.00M | 6,168.00M | 6,507.00M | 5,553.00M | 6,540.00M | 6,998.00M | 4,834.00M | 4,078.00M | 3,769.00M | 3,151.00M |
| Preferred Stock | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 1,879.00M | 1,719.00M | 730.00M | 0.00M | 1,100.00M | 1,622.00M | 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 |
| Common Stock | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 922.00M | 784.00M | 784.00M | 784.00M | 784.00M | 784.00M | 784.00M | 784.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Retained Earnings | 21,182.00M | 19,206.00M | 19,206.00M | 19,074.00M | 18,351.00M | 16,541.00M | 13,483.00M | 14,172.00M | 14,292.00M | 12,789.00M | 11,626.00M | 11,286.00M | 9,956.00M | 9,442.00M | 7,703.00M | 5,653.00M | 5,125.00M | 4,408.00M | 3,761.00M | 3,928.00M | 3,559.00M | 2,617.00M | 2,050.00M | 1,871.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Accumulated OCI | -6,036.00M | -2,259.00M | -2,259.00M | -1,675.00M | -2,363.00M | -2,771.00M | -3,689.00M | -1,585.00M | -1,879.00M | -1,719.00M | -730.00M | 3,191.00M | -1,100.00M | -1,622.00M | 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 |
| Minority Interest | 2,523.00M | 2,821.00M | 2,821.00M | 2,733.00M | 2,369.00M | 2,344.00M | 1,000.00M | 1,164.00M | 1,183.00M | 1,200.00M | 1,335.00M | 1,535.00M | 1,043.00M | 954.00M | 1,071.00M | 318.00M | 289.00M | 296.00M | 281.00M | 542.00M | 511.00M | 545.00M | 483.00M | 732.00M | 393.00M | 0.00M | 124.00M | 248.00M |
| Total Shareholders’ Equity | 16,068.00M | 17,869.00M | 17,869.00M | 18,321.00M | 16,910.00M | 14,692.00M | 10,716.00M | 13,509.00M | 15,214.00M | 13,711.00M | 12,548.00M | 15,399.00M | 10,878.00M | 10,364.00M | 8,625.00M | 6,575.00M | 6,047.00M | 5,192.00M | 4,545.00M | 4,712.00M | 4,343.00M | 3,401.00M | 2,834.00M | 2,655.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Total Equity | 18,591.00M | 20,690.00M | 20,690.00M | 21,054.00M | 19,279.00M | 17,036.00M | 11,716.00M | 14,673.00M | 16,397.00M | 14,911.00M | 13,883.00M | 16,934.00M | 11,921.00M | 11,318.00M | 9,696.00M | 6,893.00M | 6,336.00M | 5,488.00M | 4,826.00M | 5,254.00M | 4,854.00M | 3,946.00M | 3,317.00M | 3,387.00M | 393.00M | 0.00M | 124.00M | 248.00M |
| Total Liabilities & Equity | 49,989.00M | 53,671.00M | 53,357.00M | 52,680.00M | 51,971.00M | 48,319.00M | 41,298.00M | 45,791.00M | 41,116.00M | 39,835.00M | 34,135.00M | 36,324.00M | 31,605.00M | 29,178.00M | 37,355.00M | 24,593.00M | 22,514.00M | 20,315.00M | 19,911.00M | 11,422.00M | 11,361.00M | 9,499.00M | 9,857.00M | 10,385.00M | 5,227.00M | 4,078.00M | 3,893.00M | 3,399.00M |
| Tangible Assets | 31,418.00M | 32,806.00M | 32,806.00M | 34,074.00M | 19,276.00M | 17,706.00M | 17,323.00M | 18,702.00M | 25,198.00M | 23,701.00M | 22,365.00M | 22,306.00M | 18,897.00M | 17,786.00M | 20,559.00M | 18,382.00M | 15,453.00M | 12,856.00M | 13,223.00M | 10,200.00M | 10,457.00M | 9,344.00M | 8,551.00M | 9,746.00M | 6,879.00M | 7,246.00M | 6,289.00M | 6,017.00M |
| Tangible Equity | -1,625.00M | -1,011.00M | -1,011.00M | -727.00M | -14,379.00M | -15,536.00M | -14,729.00M | -14,561.00M | -1,062.00M | -2,759.00M | -3,541.00M | -1,249.00M | -4,420.00M | -4,616.00M | -8,029.00M | -3,942.00M | -4,554.00M | -1,647.00M | -2,283.00M | 2,713.00M | 2,405.00M | 1,566.00M | 1,818.00M | 2,008.00M | -877.00M | 0.00M | 124.00M | 248.00M |
| Tangible Book Value | -1,625.00M | -1,011.00M | -1,011.00M | -727.00M | -14,379.00M | -15,536.00M | -14,729.00M | -14,561.00M | -1,062.00M | -2,759.00M | -3,541.00M | -1,249.00M | -4,420.00M | -4,616.00M | -8,029.00M | -3,942.00M | -4,554.00M | -1,647.00M | -2,283.00M | 2,713.00M | 2,405.00M | 1,566.00M | 1,818.00M | 2,008.00M | -877.00M | 0.00M | 124.00M | 248.00M |
| Total Investments | 3,657.00M | 4,755.00M | 4,755.00M | 0.00M | 5,281.00M | 5,035.00M | 5,140.00M | 5,961.00M | 2,522.00M | 2,322.00M | 2,593.00M | 2,289.00M | 2,302.00M | 2,145.00M | 2,281.00M | 2,033.00M | 3,242.00M | 2,329.00M | 2,146.00M | 885.00M | 984.00M | 818.00M | 855.00M | 1,198.00M | 0.00M | 29.00M | 23.00M | 42.00M |
| Net Debt | 14,096.00M | 13,669.00M | 13,669.00M | 14,594.00M | 12,371.00M | 12,519.00M | 12,997.00M | 13,973.00M | 12,083.00M | 12,936.00M | 11,569.00M | 11,773.00M | 11,082.00M | 10,871.00M | 12,284.00M | 8,331.00M | 8,021.00M | 8,182.00M | 9,355.00M | 1,961.00M | 1,958.00M | 2,664.00M | 2,960.00M | 2,234.00M | 535.00M | -349.00M | 74.00M | -675.00M |
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 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Working Capital | -3,785.0M | -3,339.0M | -3,339.0M | -3,426.0M | -3,175.0M | -2,516.0M | -1,848.0M | -3,888.0M | -1,304.0M | -2,210.0M | -2,260.0M | -2,602.0M | -2,446.0M | -2,508.0M | -2,263.0M | -1,451.0M | -1,305.0M | -1,203.0M | -309.0M | -349.0M | 229.0M | -474.0M | 126.0M | 719.0M | 164.0M | 824.0M | 506.0M | 740.0M |
| Total Capital | 35,299.0M | 36,630.0M | 36,944.0M | 38,294.0M | 35,928.0M | 34,229.0M | 31,588.0M | 33,199.0M | 29,511.0M | 28,699.0M | 27,842.0M | 28,540.0M | 24,174.0M | 23,619.0M | 25,161.0M | 19,134.0M | 19,300.0M | 14,053.0M | 14,524.0M | 8,080.0M | 8,341.0M | 7,224.0M | 6,681.0M | 6,741.0M | 3,758.0M | 3,936.0M | 3,271.0M | 3,108.0M |
| Capital Employed | 36,770.0M | 40,831.0M | 40,831.0M | 41,562.0M | 39,229.0M | 37,727.0M | 32,647.0M | 35,201.0M | 31,722.0M | 30,576.0M | 28,924.0M | 29,198.0M | 26,298.0M | 25,334.0M | 28,179.0M | 20,968.0M | 20,926.0M | 14,824.0M | 15,505.0M | 8,775.0M | 8,989.0M | 8,077.0M | 7,752.0M | 7,987.0M | 5,132.0M | 4,982.0M | 4,397.0M | 4,157.0M |
| Invested Capital | 33,233.0M | 34,280.0M | 34,594.0M | 35,917.0M | 33,163.0M | 30,981.0M | 27,588.0M | 31,378.0M | 26,608.0M | 26,257.0M | 24,807.0M | 25,308.0M | 23,506.0M | 22,329.0M | 24,124.0M | 18,321.0M | 18,690.0M | 13,533.0M | 13,826.0M | 7,365.0M | 6,967.0M | 6,639.0M | 6,053.0M | 5,401.0M | 3,078.0M | 2,790.0M | 2,470.0M | 1,943.0M |
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 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 2,498.00M | 6,128.00M | 1,161.00M | 2,304.00M | 2,682.00M | 3,324.00M | -204.00M | 2,166.00M | 1,913.00M | 1,935.00M | 1,540.00M | 1,892.00M | 1,516.00M | 1,364.00M | 3,109.00M | 1,560.00M | 1,568.00M | 1,142.00M | 347.00M | 972.00M | 1,345.00M | 761.00M | 537.00M | 798.00M | 857.00M | 767.00M | 621.00M | 516.00M |
| Depreciation & Amortization | 4,769.00M | 4,219.00M | 2,605.00M | 2,202.00M | 2,005.00M | 1,840.00M | 1,907.00M | 1,887.00M | 1,472.00M | 1,492.00M | 1,473.00M | 1,468.00M | 1,368.00M | 1,412.00M | 1,316.00M | 1,168.00M | 1,118.00M | 1,083.00M | 1,206.00M | 764.00M | 786.00M | 768.00M | 773.00M | 644.00M | 529.00M | 0.00M | 0.00M | 0.00M |
| Deferred Income Tax | -1,020.00M | -1,567.00M | 0.00M | -851.00M | 87.00M | -3,468.00M | -458.00M | -13.00M | -44.00M | 371.00M | 206.00M | -1.00M | 381.00M | 27.00M | 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 | 31.00M | 108.00M | 0.00M | 31.00M | 57.00M | 51.00M | -1.00M | 31.00M | 48.00M | 55.00M | 42.00M | 33.00M | 48.00M | 10.00M | 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 |
| Change in Working Capital | 727.50M | -1,294.00M | 845.00M | -178.00M | -687.00M | -27.00M | 558.00M | -113.00M | -195.00M | -426.00M | -248.00M | -32.00M | -429.00M | -37.00M | -63.00M | 175.00M | 249.00M | 153.00M | -161.00M | -86.00M | -113.00M | 83.00M | 68.00M | 187.00M | -231.00M | 0.00M | -29.00M | -46.00M |
| Accounts Receivable | 766.00M | -1,067.00M | 347.00M | -42.00M | -668.00M | -697.00M | 1,124.00M | -245.00M | -66.00M | -241.00M | -228.00M | -59.00M | -325.00M | 5.00M | 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 | 437.00M | -1,382.00M | -39.00M | -4.00M | -793.00M | -308.00M | -18.00M | -257.00M | -129.00M | -185.00M | -20.00M | 27.00M | -104.00M | -42.00M | -52.00M | -145.00M | 95.00M | 202.00M | -157.00M | -140.00M | -50.00M | -18.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Accounts Payable | 646.00M | 1,534.00M | 543.00M | -100.00M | 981.00M | 1,268.00M | -759.00M | 510.00M | 908.00M | 495.00M | 328.00M | 403.00M | 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 | -452.00M | -379.00M | -6.00M | -32.00M | -207.00M | -290.00M | 211.00M | -121.00M | -908.00M | -495.00M | -656.00M | -806.00M | -166.00M | -58.00M | -11.00M | 320.00M | 154.00M | -49.00M | -4.00M | 54.00M | -63.00M | 101.00M | 68.00M | 187.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Non-Cash Items | 6,454.50M | 8,341.00M | 892.00M | 922.00M | 352.00M | 2,461.00M | 1,334.00M | 379.00M | 1,194.00M | 826.00M | 911.00M | 128.00M | 555.00M | 165.00M | -1,667.00M | 8.00M | -278.00M | 1.00M | 268.00M | 80.00M | -169.00M | 260.00M | -101.00M | 8.00M | 29.00M | 398.00M | 443.00M | 466.00M |
| Net Cash from Operating Activities | 10,589.00M | 8,128.00M | 5,503.00M | 4,430.00M | 4,496.00M | 4,181.00M | 3,136.00M | 4,337.00M | 4,388.00M | 3,882.00M | 3,718.00M | 3,489.00M | 3,058.00M | 2,914.00M | 2,695.00M | 2,911.00M | 2,657.00M | 2,379.00M | 1,660.00M | 1,730.00M | 1,849.00M | 1,872.00M | 1,277.00M | 1,637.00M | 1,184.00M | 1,165.00M | 1,035.00M | 936.00M |
| Capital Expenditures (PPE) | -4,321.00M | -4,167.00M | -2,184.00M | -2,434.00M | -2,011.00M | -1,597.00M | -1,640.00M | -2,101.00M | -1,888.00M | -1,696.00M | -1,757.00M | -1,638.00M | -1,494.00M | -1,369.00M | -1,248.00M | -856.00M | -704.00M | -777.00M | -1,260.00M | -1,145.00M | -877.00M | -874.00M | -657.00M | -637.00M | -731.00M | -596.00M | -418.00M | -441.00M |
| Acquisitions (Net) | 441.00M | -1,354.00M | 10.00M | -905.00M | -441.00M | 133.00M | 91.00M | 135.00M | 54.00M | -868.00M | 122.00M | 305.00M | -189.00M | 555.00M | -4,415.00M | -937.00M | 257.00M | -67.00M | -3,512.00M | -233.00M | -72.00M | -460.00M | 0.00M | -26.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Purchases of Investments | -49.00M | -465.00M | 0.00M | 0.00M | -45.00M | -678.00M | -9.00M | -2,875.00M | -159.00M | -93.00M | -68.00M | -543.00M | 0.00M | 0.00M | 0.00M | 0.00M | -145.00M | -233.00M | -202.00M | -89.00M | 0.00M | 0.00M | 0.00M | -175.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Sales / Maturities of Investments | 51.00M | 57.00M | 0.00M | 0.00M | 8.00M | 11.00M | 249.00M | 50.00M | 1.00M | 16.00M | -54.00M | 54.00M | 0.00M | 0.00M | 0.00M | 0.00M | 57.00M | 34.00M | 80.00M | 44.00M | 0.00M | 0.00M | 37.00M | 71.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Other Investing Activities | -912.00M | -402.00M | -261.00M | -237.00M | -188.00M | -156.00M | -133.00M | -185.00M | -363.00M | -324.00M | -304.00M | -242.00M | 10.00M | -27.00M | 38.00M | 38.00M | 128.00M | 256.00M | 150.00M | 160.00M | 150.00M | 140.00M | -1,051.00M | -1,313.00M | -1,242.00M | -188.00M | -1,085.00M | -86.00M |
| Net Cash from Investing Activities | -4,790.00M | -6,331.00M | -2,435.00M | -3,576.00M | -2,677.00M | -2,287.00M | -1,442.00M | -4,976.00M | -2,355.00M | -2,965.00M | -2,007.00M | -2,064.00M | -1,673.00M | -841.00M | -5,625.00M | -1,755.00M | -407.00M | -787.00M | -4,744.00M | -1,263.00M | -799.00M | -1,194.00M | -1,671.00M | -2,080.00M | -1,973.00M | -784.00M | -1,503.00M | -527.00M |
| Net Debt Issuance | -584.00M | 2,618.00M | -1,015.00M | 1,747.00M | -1,290.00M | -1,791.00M | 2,042.00M | -121.00M | 149.00M | 63.00M | 669.00M | 135.00M | -1,585.00M | -811.00M | 3,909.00M | 195.00M | -1,207.00M | -1,359.00M | 3,829.00M | -185.00M | -316.00M | -337.00M | -123.00M | 1,230.00M | 428.00M | -96.00M | 293.00M | -14.00M |
| Long-Term Debt Issuance | -15.00M | 2,618.00M | -1,015.00M | 1,747.00M | -1,290.00M | -1,791.00M | 2,042.00M | -121.00M | 149.00M | 63.00M | 669.00M | 135.00M | -1,585.00M | -811.00M | 3,909.00M | 195.00M | -1,207.00M | -1,359.00M | 3,829.00M | -185.00M | -320.00M | -337.00M | -123.00M | 1,230.00M | 428.00M | -96.00M | 293.00M | -14.00M |
| Short-Term Debt Issuance | -584.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -281.00M | -259.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 4.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Stock Issuance | -117.00M | -985.00M | -5.00M | -942.00M | -43.00M | 12.00M | 11.00M | 0.00M | -20.00M | 0.00M | -31.00M | -377.00M | -9.00M | -21.00M | 0.00M | -687.00M | -381.00M | -13.00M | -11.00M | -15.00M | -14.00M | 0.00M | -2.00M | 3.00M | -1.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 12.00M | 11.00M | 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 | 3.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Common Stock Repurchased | -117.00M | -985.00M | -5.00M | -942.00M | -43.00M | 0.00M | 0.00M | 0.00M | -20.00M | 0.00M | -31.00M | -377.00M | -9.00M | -21.00M | 0.00M | -687.00M | -381.00M | -13.00M | -11.00M | -15.00M | -14.00M | 0.00M | -2.00M | 0.00M | -1.00M | 0.00M | 0.00M | 0.00M |
| Preferred Stock Issuance | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Net Dividends Paid | -2,076.50M | -2,156.00M | -1,199.00M | -1,335.00M | -1,099.00M | -796.00M | -583.00M | -951.00M | -1,090.00M | -1,011.00M | -1,031.00M | -909.00M | -723.00M | -710.00M | -604.00M | -580.00M | -483.00M | -392.00M | -485.00M | -450.00M | -294.00M | -271.00M | 0.00M | -241.00M | -187.00M | -168.00M | -160.00M | -113.00M |
| Common Dividends Paid | -2,076.50M | -2,156.00M | -1,199.00M | -1,335.00M | -1,099.00M | -796.00M | -583.00M | -951.00M | -1,090.00M | -1,011.00M | -1,031.00M | -909.00M | -723.00M | -710.00M | -604.00M | -580.00M | -483.00M | -392.00M | -485.00M | -417.00M | -294.00M | -271.00M | -243.00M | -241.00M | -187.00M | -168.00M | -160.00M | -113.00M |
| Preferred Dividends Paid | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M | -228.00M | -272.00M | 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 | -2,500.50M | -1,366.00M | -355.00M | -286.00M | -304.00M | -298.00M | -4.00M | 431.00M | -6.00M | -18.00M | -279.00M | -22.00M | -136.00M | -210.00M | -249.00M | 38.00M | -101.00M | -73.00M | -24.00M | -14.00M | -25.00M | 16.00M | 2.00M | 0.00M | 0.00M | 57.00M | 42.00M | 1.00M |
| Net Cash from Financing Activities | -5,278.00M | -1,889.00M | -2,574.00M | -816.00M | -2,736.00M | -2,873.00M | 1,242.00M | -913.00M | -967.00M | -966.00M | -672.00M | -1,173.00M | -2,453.00M | -1,752.00M | 3,056.00M | -1,034.00M | -2,172.00M | -1,837.00M | 3,309.00M | -656.00M | -649.00M | -592.00M | -125.00M | 992.00M | 240.00M | -206.00M | 175.00M | -126.00M |
| Effect of FX on Cash | -382.00M | -186.00M | -166.00M | -231.00M | -21.00M | 16.00M | -104.00M | -9.00M | 5.00M | -140.00M | 45.00M | -43.00M | 29.00M | -55.00M | 114.00M | 6.00M | 36.00M | 5.00M | 70.00M | -5.00M | -8.00M | -13.00M | 1.00M | 15.00M | -36.00M | 85.00M | -80.00M | -63.00M |
| Net Change in Cash | 1,323.00M | 201.00M | 328.00M | -193.00M | -483.00M | -752.00M | 2,179.00M | -1,082.00M | 1,071.00M | -189.00M | 1,084.00M | 209.00M | -1,039.00M | 266.00M | 240.00M | 128.00M | 114.00M | -240.00M | 295.00M | -194.00M | 393.00M | 73.00M | -550.00M | 532.00M | -673.00M | 260.00M | -373.00M | 220.00M |
| Cash at Beginning of Period | 6,795.00M | 10,869.00M | 1,425.00M | 1,618.00M | 3,248.00M | 4,000.00M | 1,821.00M | 2,903.00M | 1,177.00M | 1,366.00M | 282.00M | 73.00M | 1,112.00M | 846.00M | 606.00M | 478.00M | 364.00M | 604.00M | 309.00M | 627.00M | 234.00M | 161.00M | 737.00M | 205.00M | 878.00M | 618.00M | 991.00M | 771.00M |
| Cash at End of Period | 8,118.00M | 11,070.00M | 1,753.00M | 1,425.00M | 2,765.00M | 3,248.00M | 4,000.00M | 1,821.00M | 2,248.00M | 1,177.00M | 1,366.00M | 282.00M | 73.00M | 1,112.00M | 846.00M | 606.00M | 478.00M | 364.00M | 604.00M | 433.00M | 627.00M | 234.00M | 187.00M | 737.00M | 205.00M | 878.00M | 618.00M | 991.00M |
| Operating Cash Flow | 9,745.00M | 8,128.00M | 5,503.00M | 4,430.00M | 4,496.00M | 4,181.00M | 3,136.00M | 4,337.00M | 4,388.00M | 3,882.00M | 3,718.00M | 3,489.00M | 3,058.00M | 2,914.00M | 2,695.00M | 2,911.00M | 2,657.00M | 2,379.00M | 1,660.00M | 1,730.00M | 1,849.00M | 1,872.00M | 1,277.00M | 1,637.00M | 1,184.00M | 1,165.00M | 1,035.00M | 936.00M |
| Capital Expenditure | -4,040.00M | -4,167.00M | -2,465.00M | -2,677.00M | -2,011.00M | -1,597.00M | -1,640.00M | -2,101.00M | -1,888.00M | -1,696.00M | -1,757.00M | -1,638.00M | -1,494.00M | -1,369.00M | -1,248.00M | -856.00M | -704.00M | -777.00M | -1,260.00M | -1,145.00M | -877.00M | -874.00M | -657.00M | -637.00M | -731.00M | -596.00M | -418.00M | -441.00M |
| Free Cash Flow | 5,705.00M | 3,961.00M | 3,038.00M | 1,753.00M | 2,485.00M | 2,584.00M | 1,496.00M | 2,236.00M | 2,500.00M | 2,186.00M | 1,961.00M | 1,851.00M | 1,564.00M | 1,545.00M | 1,447.00M | 2,055.00M | 1,953.00M | 1,602.00M | 400.00M | 585.00M | 972.00M | 998.00M | 620.00M | 1,000.00M | 453.00M | 569.00M | 617.00M | 495.00M |
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 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 | 2002-12-31 | 2001-12-31 | 2000-12-31 | 1999-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 10,111.80M | 3,027.00M | 13,113.00M | 8,261.30M | 6,023.00M | 5,267.00M | 4,036.00M | 5,663.00M | 6,414.00M | 6,402.00M | 6,151.00M | 5,772.00M | 5,544.00M | 5,345.00M | 7,850.00M | 7,325.00M | 4,280.00M | 3,796.00M | 3,562.00M | 3,001.00M | 2,998.00M | 2,727.00M | 2,794.00M | 2,510.00M | 3,622.00M | 4,720.00M | 4,251.00M | 3,771.00M |
| (-) Tax Adjustment | 2,862.87M | 623.32M | 4,589.55M | 396.36M | 1,725.87M | 1,030.44M | 1,412.60M | 1,651.71M | 1,669.98M | 1,662.14M | 1,716.26M | 1,417.58M | 1,663.20M | 1,319.13M | 1,134.08M | 1,682.04M | 868.19M | 760.26M | 1,246.70M | 918.94M | 639.92M | 699.83M | 921.30M | 676.83M | 1,079.78M | 1,404.40M | 1,288.32M | 1,235.25M |
| (-) Change In Working Capital | 727.50M | -1,294.00M | 845.00M | -178.00M | -687.00M | -27.00M | 558.00M | -113.00M | -195.00M | -426.00M | -248.00M | -32.00M | -429.00M | -37.00M | -63.00M | 175.00M | 249.00M | 153.00M | -161.00M | -86.00M | -113.00M | 83.00M | 68.00M | 187.00M | -231.00M | 0.00M | -29.00M | -46.00M |
| (-) Capital Expenditure | -4,040.00M | -4,167.00M | -2,465.00M | -2,677.00M | -2,011.00M | -1,597.00M | -1,640.00M | -2,101.00M | -1,888.00M | -1,696.00M | -1,757.00M | -1,638.00M | -1,494.00M | -1,369.00M | -1,248.00M | -856.00M | -704.00M | -777.00M | -1,260.00M | -1,145.00M | -877.00M | -874.00M | -657.00M | -637.00M | -731.00M | -596.00M | -418.00M | -441.00M |
| Unlevered Free Cash Flow | 2,481.43M | -469.32M | 5,213.45M | 5,365.94M | 2,973.13M | 2,666.56M | 425.40M | 2,023.29M | 3,051.02M | 3,469.86M | 2,925.74M | 2,748.42M | 2,815.80M | 2,693.87M | 5,530.92M | 4,611.96M | 2,458.81M | 2,105.74M | 1,216.30M | 1,023.06M | 1,594.08M | 1,070.17M | 1,147.70M | 1,009.17M | 2,042.22M | 2,719.60M | 2,573.68M | 2,140.75M |
| (-) Net Interest Income After Taxes | -813.66M | -670.20M | -370.50M | -523.61M | -273.97M | -332.20M | -290.55M | -321.58M | -311.39M | -293.19M | -258.83M | -265.55M | -78.40M | -446.65M | -424.34M | -332.03M | -390.60M | -434.25M | -245.70M | -70.07M | -104.61M | -103.33M | -68.37M | -102.25M | -76.51M | -49.87M | 0.00M | 0.00M |
| Net Debt Issuance | -584.00M | 2,618.00M | -1,015.00M | 1,747.00M | -1,290.00M | -1,791.00M | 2,042.00M | -121.00M | 149.00M | 63.00M | 669.00M | 135.00M | -1,585.00M | -811.00M | 3,909.00M | 195.00M | -1,207.00M | -1,359.00M | 3,829.00M | -185.00M | -316.00M | -337.00M | -123.00M | 1,230.00M | 428.00M | -96.00M | 293.00M | -14.00M |
| Levered Free Cash Flow | 2,711.08M | 2,818.88M | 4,568.95M | 7,636.55M | 1,957.10M | 1,207.76M | 2,757.95M | 2,223.88M | 3,511.40M | 3,826.04M | 3,853.57M | 3,148.97M | 1,309.20M | 2,329.52M | 9,864.26M | 5,138.99M | 1,642.42M | 1,180.98M | 5,291.00M | 908.14M | 1,382.69M | 836.50M | 1,093.07M | 2,341.42M | 2,546.73M | 2,673.47M | 2,866.68M | 2,126.75M |