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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

M/I Homes, Inc.

Ticker: MHO | Industry: Residential Construction | Sector: Consumer Cyclical
$133.45 -2.01 (-1.48%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric MRQ MRQ-1 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Stock Price 144.44 112.12 123.58 138.60 93.02 41.61 59.43 35.33 33.10 25.76 28.55 21.56 23.50 22.37 23.26 18.91 10.72 12.51 10.19 16.51 19.54 38.91 49.48 46.36 37.52 31.18 18.92 9.52 8.53 10.50 6.97 4.97
Market Capitalization 3,884.71M 3,035.54M 3,346.32M 3,856.20M 2,583.74M 1,160.06M 1,728.68M 1,011.83M 923.32M 727.64M 739.36M 531.76M 577.52M 547.16M 553.64M 376.88M 200.22M 231.72M 157.62M 231.36M 272.91M 543.88M 705.29M 653.99M 537.96M 467.54M 287.01M 148.63M 147.78M 178.44M 109.55M 86.08M
(-) Cash & Equivalents 734.17M 800.40M 770.32M 812.28M 669.70M 196.19M 280.56M 144.63M 25.46M 44.82M 81.04M 30.52M 26.07M 48.30M 188.05M 111.70M 86.75M 96.87M 60.76M 10.15M 2.64M 6.31M 8.04M 3.48M 3.81M 8.50M 8.20M 9.44M 6.70M 5.75M 8.83M 7.95M
(+) Total Debt 927.96M 1,029.58M 983.85M 1,002.69M 946.69M 956.68M 928.21M 853.76M 846.06M 836.70M 716.43M 628.90M 580.48M 459.70M 440.39M 322.92M 284.22M 243.39M 167.64M 242.78M 455.19M 656.71M 456.50M 283.68M 157.37M 141.88M 221.84M 241.35M 203.15M 169.43M 158.38M 134.95M
Enterprise Value 4,078.50M 3,264.72M 3,559.85M 4,046.61M 2,860.73M 1,920.55M 2,376.34M 1,720.95M 1,743.91M 1,519.52M 1,374.74M 1,130.14M 1,131.93M 958.57M 805.98M 588.10M 397.69M 378.23M 264.50M 463.99M 725.45M 1,194.29M 1,153.75M 934.19M 691.52M 600.92M 500.64M 380.53M 344.23M 342.12M 259.10M 213.08M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Revenue 4,473M 4,269M 4,505M 4,028M 4,131M 3,746M 3,046M 2,500M 2,286M 1,962M 1,691M 1,418M 1,215M 1,037M 762M 566M 616M 570M 608M 1,016M 1,359M 1,348M 1,175M 1,070M 1,033M 977M 935M 852M 740M 614M 577M 528M
Cost of Revenue 3,367M 3,126M 3,306M 3,015M 3,088M 2,837M 2,361M 2,005M 1,843M 1,569M 1,362M 1,118M 962M 830M 614M 489M 511M 550M 685M 833M 1,015M 1,008M 876M 797M 784M 755M 734M 666M 587M 493M 467M 430M
Gross Profit 1,106M 1,143M 1,199M 1,014M 1,044M 909M 685M 495M 444M 393M 329M 300M 253M 206M 148M 77M 105M 20M -78M 184M 345M 340M 299M 273M 249M 222M 201M 187M 153M 121M 111M 98M
Gross Profit Margin 24.7% 26.8% 26.6% 25.2% 25.3% 24.3% 22.5% 19.8% 19.4% 20.0% 19.5% 21.2% 20.8% 19.9% 19.4% 13.6% 17.0% 3.4% -12.8% 18.1% 25.4% 25.2% 25.5% 25.5% 24.1% 22.7% 21.5% 21.9% 20.7% 19.7% 19.1% 18.5%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 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 510M 475M 493M 432M 406M 391M 357M 302M 281M 255M 220M 188M 170M 148M 119M 96M 102M 103M 132M 171M 197M 165M 139M 128M 126M 120M 108M 101M 91M 78M 73M 65M
Operating Expenses 510M 475M 493M 432M 406M 391M 685M 302M 281M 255M 220M 188M 170M 148M 119M 96M 102M 103M 132M 171M 197M 165M 139M 128M 126M 120M 110M 104M 93M 80M 74M 67M
Operating Income (EBIT) 596M 669M 706M 582M 637M 518M 0M 192M 163M 139M 109M 112M 83M 59M 29M -19M 3M -84M -209M 13M 148M 176M 160M 145M 123M 101M 91M 83M 60M 41M 36M 31M
Operating Income Margin 13.3% 15.7% 15.7% 14.4% 15.4% 13.8% 0.0% 7.7% 7.1% 7.1% 6.4% 7.9% 6.8% 5.7% 3.8% -3.3% 0.5% -14.7% -34.5% 1.3% 10.9% 13.0% 13.6% 13.5% 11.9% 10.4% 9.7% 9.7% 8.1% 6.7% 6.3% 5.8%
Interest Income 7M 22M 0M 20M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 33M -7M -28M 0M 2M 2M 10M 21M 20M 19M 18M 18M 13M 16M 16M 15M 9M 8M 11M 15M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income -27M 29M 28M 20M -2M -2M -10M -21M -20M -19M -18M -18M -13M -16M -16M -15M -9M -8M -11M -15M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Unusual Items 47M 3M 0M 5M 0M -7M 320M -5M -1M 1M 1M -7M 0M -1M 0M 0M -21M -1M 6M -148M -88M -14M -8M -10M -14M -16M -18M -14M -13M -12M -13M -14M
EBT Excluding Unusual Items 569M 698M 734M 602M 635M 516M -10M 171M 143M 120M 91M 94M 69M 43M 13M -34M -6M -92M -221M -2M 148M 176M 160M 145M 123M 101M 91M 83M 60M 41M 36M 31M
Pre-Tax Income 617M 701M 734M 607M 635M 509M 310M 166M 141M 120M 92M 87M 70M 41M 13M -34M -27M -93M -215M -151M 60M 161M 151M 135M 109M 85M 73M 69M 47M 29M 23M 17M
Pre-Tax Margin 13.8% 16.4% 16.3% 15.1% 15.4% 13.6% 10.2% 6.6% 6.2% 6.1% 5.4% 6.1% 5.7% 4.0% 1.7% -6.0% -4.4% -16.3% -35.4% -14.8% 4.4% 12.0% 12.9% 12.6% 10.6% 8.7% 7.8% 8.1% 6.3% 4.8% 4.0% 3.1%
Income Tax Expense 144M 165M 170M 142M 145M 112M 70M 38M 34M 48M 35M 35M 19M -110M -1M 0M -1M -31M 30M -58M 21M 61M 60M 53M 43M 32M 28M 27M 19M 12M 9M 7M
Net Income 472M 536M 564M 465M 491M 397M 240M 128M 108M 72M 57M 52M 51M 151M 13M -34M -26M -62M -245M -128M 39M 101M 92M 82M 67M 55M 44M 42M 28M 17M 13M 10M
Net Income Margin 10.6% 12.5% 12.5% 11.6% 11.9% 10.6% 7.9% 5.1% 4.7% 3.7% 3.3% 3.6% 4.2% 14.6% 1.8% -6.0% -4.3% -10.9% -40.4% -12.6% 2.9% 7.5% 7.8% 7.6% 6.4% 5.7% 4.8% 4.9% 3.7% 2.8% 2.2% 1.9%
Depreciation & Amortization 18M 15M 15M 14M 15M 14M 15M 13M 12M 11M 10M 8M 6M 5M 6M 8M 8M 8M 8M 8M 7M 4M 2M 2M 2M 2M 2M 2M 2M 2M 1M 2M
EBITDA 614M 684M 722M 596M 652M 533M 15M 205M 175M 149M 119M 119M 89M 64M 35M -11M 11M -76M -202M 21M 155M 180M 162M 147M 125M 103M 93M 85M 62M 43M 38M 32M
EBITDA Margin 13.7% 16.0% 16.0% 14.8% 15.8% 14.2% 0.5% 8.2% 7.7% 7.6% 7.0% 8.4% 7.3% 6.1% 4.6% -2.0% 1.7% -13.3% -33.2% 2.0% 11.4% 13.4% 13.8% 13.8% 12.1% 10.6% 10.0% 10.0% 8.3% 7.0% 6.5% 6.1%
NOPAT 457M 511M 543M 446M 492M 404M 0M 148M 124M 83M 67M 67M 60M 215M 30M -15M 2M -66M -165M 10M 96M 110M 97M 88M 75M 63M 56M 50M 35M 24M 22M 18M
NOPAT Margin 10.2% 12.0% 12.0% 11.1% 11.9% 10.8% 0.0% 5.9% 5.4% 4.2% 4.0% 4.7% 5.0% 20.7% 4.0% -2.6% 0.4% -11.6% -27.2% 1.0% 7.0% 8.1% 8.2% 8.2% 7.3% 6.4% 6.0% 5.9% 4.8% 4.0% 3.8% 3.5%
Owner's Earnings 483M 543M 571M 474M 496M 386M 243M 136M 111M 74M 54M 56M 54M 154M 19M -28M -20M -58M -242M -125M 41M 101M 92M 68M 68M 51M 46M 42M 28M 11M 14M 11M
Owner's Earnings Margin 10.8% 12.7% 12.7% 11.8% 12.0% 10.3% 8.0% 5.5% 4.9% 3.8% 3.2% 3.9% 4.4% 14.9% 2.5% -4.9% -3.3% -10.2% -39.8% -12.3% 3.0% 7.5% 7.9% 6.4% 6.6% 5.2% 4.9% 5.0% 3.8% 1.7% 2.4% 2.1%
EPS (Basic) 17.45 19.23 20.29 16.76 17.60 13.64 8.38 4.58 3.81 2.57 2.10 1.91 1.88 6.11 0.68 -1.81 -1.42 -3.71 -17.51 -9.17 2.78 7.05 6.49 5.66 4.41 3.67 2.82 2.38 1.65 1.08 0.73 0.28
EPS (Diluted) 16.91 18.65 19.71 16.21 17.24 13.28 8.23 4.48 3.69 2.35 1.88 1.72 1.70 5.26 0.67 -1.81 -1.42 -3.71 -17.51 -9.17 2.74 6.93 6.35 5.51 4.30 3.60 2.76 2.34 1.63 1.07 0.73 0.56
Shares (Basic) 27M 28M 28M 28M 28M 29M 29M 28M 28M 26M 25M 25M 24M 24M 20M 19M 19M 17M 14M 14M 14M 14M 14M 14M 15M 15M 16M 18M 17M 16M 18M 18M
Shares (Diluted) 28M 29M 29M 29M 28M 30M 29M 28M 29M 31M 30M 30M 30M 29M 20M 19M 19M 17M 14M 14M 14M 15M 14M 15M 16M 15M 16M 18M 17M 16M 18M 18M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Cash & Cash Equivalents 734.17M 800.40M 821.47M 732.60M 310.54M 236.37M 260.81M 6.08M 21.53M 151.70M 34.44M 13.10M 22.49M 142.63M 154.18M 101.13M 81.21M 132.23M 32.52M 1.51M 11.52M 25.09M 2.79M 3.21M 0.95M 9.99M 8.56M 5.70M 10.10M 10.80M 6.80M 8.10M
Short-Term Investments 0.00M 0.00M 0.53M 3.62M 0.79M 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
Cash & Short-Term Investments 734.17M 800.40M 822.00M 736.22M 311.33M 236.37M 260.81M 6.08M 21.53M 151.70M 34.44M 13.10M 22.49M 142.63M 154.18M 101.13M 81.21M 132.23M 32.52M 1.51M 11.52M 25.09M 2.79M 3.21M 0.95M 9.99M 8.56M 5.70M 10.10M 10.80M 6.80M 8.10M
Net Receivables 0.00M 0.00M 0.00M 0.00M 0.00M -15.59M 0.00M 0.00M -8.61M -9.02M -11.23M -6.04M 0.00M 0.00M -0.05M 57.28M 43.31M 34.98M 37.77M 54.13M 58.98M 0.00M 0.00M 0.00M 56.16M 55.01M 49.96M 40.00M 42.40M 43.80M 34.40M 23.60M
Inventory 3,331.31M 3,209.84M 3,091.86M 2,797.15M 2,828.60M 2,452.43M 1,871.25M 1,740.98M 1,674.46M 1,414.57M 1,215.93M 1,112.04M 918.59M 690.93M 556.82M 466.77M 450.94M 420.29M 516.03M 797.33M 1,184.36M 1,076.13M 798.49M 591.63M 451.22M 479.24M 449.43M 432.70M 323.50M 271.30M 238.90M 228.30M
Other Current Assets 321.11M 357.64M 368.18M 262.07M 318.88M 291.25M 279.65M 183.78M 178.26M 180.60M 165.25M 133.04M 99.75M 95.71M 79.85M 0.00M 41.92M 0.00M 46.11M 21.24M 58.31M 99.24M 0.00M 75.50M 0.38M 0.56M 1.71M 0.80M 0.80M 2.50M 0.00M 0.00M
Total Current Assets 4,386.59M 4,367.87M 4,282.05M 3,795.44M 3,458.81M 2,964.46M 2,411.71M 1,930.83M 1,865.64M 1,737.86M 1,404.40M 1,252.14M 1,040.82M 929.27M 790.80M 625.17M 617.38M 587.50M 632.43M 874.20M 1,313.15M 1,200.46M 801.27M 670.34M 508.71M 544.80M 509.66M 479.20M 376.80M 328.40M 280.10M 260.00M
Property, Plant & Equipment 82.99M 90.15M 88.41M 91.28M 97.86M 88.60M 78.90M 40.53M 29.40M 26.82M 22.30M 12.90M 11.49M 10.54M 10.44M 14.36M 16.55M 19.00M 27.73M 35.70M 36.26M 34.51M 33.31M 34.23M 20.81M 22.28M 18.17M 19.40M 20.00M 8.60M 1.60M 2.40M
Goodwill 16.40M 16.40M 16.40M 16.40M 16.40M 16.40M 16.40M 16.40M 16.40M 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
Intangible Assets 0.00M 0.00M 9.91M 10.66M 15.81M 8.36M 9.24M 9.61M 6.48M 7.82M 11.44M 7.53M 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
Long-Term Investments 81.51M 67.47M 65.33M 44.01M 51.55M 57.12M 34.67M 37.89M 35.87M 20.53M 28.02M 36.97M 27.77M 35.27M 11.73M 10.36M 10.59M 10.30M 13.13M 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
Tax Assets 13.45M 13.45M 0.00M 0.00M 0.00M 10.25M 6.18M 9.63M 13.48M 18.44M 30.88M 67.40M 94.41M 110.91M 0.00M 0.00M 0.00M 0.00M 0.00M 67.87M 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 Non-Current Assets 188.60M 184.70M 87.70M 64.65M 74.49M 94.67M 85.94M 60.70M 60.79M 53.31M 51.48M 38.62M 43.87M 38.09M 27.01M 14.60M 17.37M 47.03M 19.99M 86.21M 127.67M 94.72M 54.30M 42.31M 48.94M 45.04M 39.82M 33.00M 30.30M 29.00M 23.70M 18.70M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 382.96M 372.17M 267.75M 227.00M 256.12M 275.40M 231.33M 174.76M 162.42M 126.91M 144.12M 163.41M 177.54M 194.81M 49.18M 39.31M 44.52M 76.33M 60.86M 189.78M 163.93M 129.22M 87.61M 76.53M 69.75M 67.31M 57.98M 52.40M 50.30M 37.60M 25.30M 21.10M
Total Assets 4,769.54M 4,740.04M 4,549.80M 4,022.44M 3,714.92M 3,239.85M 2,643.05M 2,105.59M 2,028.06M 1,864.77M 1,548.51M 1,415.55M 1,218.36M 1,124.08M 839.98M 664.49M 661.89M 663.83M 693.29M 1,063.98M 1,477.08M 1,329.68M 888.88M 746.87M 578.46M 612.11M 567.64M 531.60M 427.10M 366.00M 305.40M 281.10M
Accounts Payable 257.98M 252.48M 198.58M 204.68M 228.60M 244.51M 185.67M 125.03M 131.51M 117.23M 103.21M 86.88M 75.34M 70.23M 47.69M 41.26M 29.03M 38.26M 27.54M 66.24M 81.20M 73.71M 50.45M 55.13M 58.19M 55.66M 67.34M 63.20M 51.40M 42.80M 32.00M 29.20M
Short-Term Debt 0.00M 0.00M 6.07M 0.00M 0.00M 266.16M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 80.03M 0.00M 146.66M 0.00M 229.73M 0.00M 0.00M 0.00M 0.00M 317.37M 179.61M 91.46M 194.23M 26.70M 15.40M 23.50M 30.00M 23.30M 15.50M
Tax Payables 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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
Deferred Revenue 61.60M 72.16M 0.00M 0.00M 0.00M 107.86M 72.64M 34.46M -204.53M -216.12M -182.58M 0.00M 0.00M -95.41M 0.00M 4.18M 0.00M -229.73M 0.00M 0.00M 0.00M 0.00M 25.46M 26.50M 23.21M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 0.00M 0.00M 405.20M 293.30M 358.48M -374.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -80.03M 0.00M 146.59M -3.02M -229.73M 0.00M 0.00M 0.00M 0.00M -316.66M -179.61M 89.08M -111.89M 62.19M 55.70M 53.80M 43.80M 35.70M 25.40M
Total Current Liabilities 319.58M 324.64M 609.85M 497.98M 587.08M 244.51M 258.30M 159.49M -73.02M -98.89M -79.37M 86.88M 75.34M -25.19M 47.69M 338.68M 26.01M -191.46M 27.54M 66.24M 81.20M 73.71M 76.62M 81.64M 261.94M 137.99M 156.23M 134.30M 128.70M 116.60M 91.00M 70.10M
Long-Term Debt 979.93M 1,029.58M 744.32M 751.31M 753.78M 747.31M 924.35M 773.23M 0.00M 86.13M 57.09M 56.52M 57.50M 57.50M 57.50M 150.77M 284.24M 8.20M 215.75M 361.02M 645.50M 511.57M 0.00M 0.00M 0.00M 194.23M 182.52M 196.70M 131.80M 134.00M 102.00M 111.50M
Capital Lease Obligations 51.97M 58.00M 55.37M 57.57M 61.31M 51.50M 52.47M 18.42M 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
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M -107.86M 0.00M 0.00M -32.06M -26.38M -22.16M -19.57M -11.76M -11.26M -10.24M 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 Non-Current Liabilities 320.59M 303.68M 255.96M 256.21M 303.34M 623.85M 129.06M 134.94M 1,034.77M 914.11M 734.03M 675.59M 534.28M 489.65M 390.68M -98.31M 0.00M 290.60M 116.93M 109.04M 133.33M 79.02M 385.01M 0.00M 0.00M 0.00M 0.00M 0.10M 0.00M -0.10M 0.10M 0.00M
Total Non-Current Liabilities 1,352.48M 1,391.26M 1,055.64M 1,065.09M 1,118.43M 1,314.80M 1,105.88M 926.58M 1,002.71M 973.86M 768.97M 712.54M 580.02M 535.89M 437.94M 52.46M 284.24M 298.80M 332.69M 470.06M 778.83M 590.59M 385.01M 0.00M 0.00M 194.23M 182.52M 196.80M 131.80M 133.90M 102.10M 111.50M
Total Liabilities 1,672.06M 1,715.90M 1,665.48M 1,563.07M 1,705.51M 1,559.30M 1,364.19M 1,086.07M 929.69M 874.98M 689.60M 799.42M 655.36M 510.70M 485.63M 391.14M 310.25M 107.34M 360.23M 536.30M 860.03M 664.29M 461.63M 81.64M 261.94M 332.22M 338.75M 331.10M 260.50M 250.50M 193.10M 181.60M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 48.16M 48.16M 48.16M 48.16M 96.33M 96.33M 96.33M 96.33M 96.33M 96.33M 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 0.30M 0.30M 0.30M 0.30M 0.30M 0.30M 0.30M 0.30M 0.30M 0.30M 0.27M 0.27M 0.27M 0.27M 0.25M 0.22M 0.22M 0.22M 0.18M 0.18M 0.18M 0.18M 0.18M 0.18M 0.18M 0.09M 0.09M 0.10M 0.00M 0.00M 0.00M 0.00M
Retained Earnings 3,204.04M 3,097.55M 2,865.07M 2,301.35M 1,835.98M 1,345.32M 948.45M 708.58M 580.99M 473.33M 407.16M 355.43M 308.54M 262.63M 117.05M 103.70M 137.58M 163.85M 225.96M 477.34M 614.19M 576.73M 477.37M 387.25M 306.97M 241.96M 188.18M 145.30M 105.50M 79.10M 61.70M 48.80M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -22.41M -25.48M -25.49M -24.70M -24.77M -24.01M -23.97M -24.37M -21.60M -17.75M -15.65M -16.81M -14.23M -11.27M -9.20M -7.61M -7.80M -7.45M -7.35M -5.70M -5.00M -4.30M -6.70M -6.10M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 3,204.34M 3,097.85M 2,865.37M 2,301.65M 1,836.28M 1,345.62M 948.75M 708.88M 558.88M 448.14M 430.10M 379.16M 332.20M 287.05M 189.65M 175.88M 212.52M 242.64M 306.81M 557.04M 600.14M 565.63M 468.35M 379.82M 299.35M 234.59M 180.92M 139.70M 100.50M 74.80M 55.00M 42.70M
Total Equity 3,204.34M 3,097.85M 2,865.37M 2,301.65M 1,836.28M 1,345.62M 948.75M 708.88M 558.88M 448.14M 430.10M 379.16M 332.20M 287.05M 189.65M 175.88M 212.52M 242.64M 306.81M 557.04M 600.14M 565.63M 468.35M 379.82M 299.35M 234.59M 180.92M 139.70M 100.50M 74.80M 55.00M 42.70M
Total Liabilities & Equity 4,876.41M 4,813.75M 4,530.86M 3,864.72M 3,541.79M 2,904.92M 2,312.94M 1,794.95M 1,488.57M 1,323.12M 1,119.70M 1,178.58M 987.56M 797.74M 675.28M 567.01M 522.78M 349.98M 667.04M 1,093.34M 1,460.16M 1,229.93M 929.98M 461.45M 561.29M 566.81M 519.67M 470.80M 361.00M 325.30M 248.10M 224.30M
Tangible Assets 4,753.14M 4,723.64M 4,523.49M 3,995.38M 3,682.71M 3,215.09M 2,617.41M 2,079.58M 2,005.18M 1,856.95M 1,537.07M 1,408.03M 1,218.36M 1,124.08M 839.98M 664.49M 661.89M 663.83M 693.29M 1,063.98M 1,477.08M 1,329.68M 888.88M 746.87M 578.46M 612.11M 567.64M 531.60M 427.10M 366.00M 305.40M 281.10M
Tangible Equity 3,187.94M 3,081.45M 2,839.07M 2,274.59M 1,804.07M 1,320.86M 923.12M 682.87M 536.00M 440.32M 418.66M 371.63M 332.20M 287.05M 189.65M 175.88M 212.52M 242.64M 306.81M 557.04M 600.14M 565.63M 468.35M 379.82M 299.35M 234.59M 180.92M 139.70M 100.50M 74.80M 55.00M 42.70M
Tangible Book Value 3,187.94M 3,081.45M 2,839.07M 2,274.59M 1,804.07M 1,320.86M 923.12M 682.87M 536.00M 440.32M 418.66M 371.63M 332.20M 287.05M 189.65M 175.88M 212.52M 242.64M 306.81M 557.04M 600.14M 565.63M 468.35M 379.82M 299.35M 234.59M 180.92M 139.70M 100.50M 74.80M 55.00M 42.70M
Total Investments 81.51M 67.47M 65.33M 44.01M 51.55M 57.12M 34.67M 37.89M 35.87M 20.53M 28.02M 36.97M 27.77M 35.27M 11.73M 10.36M 10.59M 10.30M 13.13M 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 Debt 245.75M 229.19M -71.08M 18.71M 443.23M 777.11M 663.54M 767.14M -21.53M -65.57M 22.65M 43.42M 35.01M -5.10M -96.68M 196.30M 203.03M 105.70M 183.23M 359.51M 633.98M 486.48M 314.58M 176.41M 90.51M 378.47M 200.66M 206.40M 145.20M 153.20M 118.50M 118.90M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Working Capital 4,067.0M 4,043.2M 3,672.2M 3,297.5M 2,871.7M 2,720.0M 2,153.4M 1,771.3M 1,734.1M 1,620.6M 1,301.2M 1,165.3M 958.5M 845.1M 734.4M 286.5M 543.2M 489.0M 539.3M 786.7M 1,123.2M 988.8M 400.0M 325.9M 270.0M 406.8M 353.4M 344.9M 248.1M 211.8M 189.1M 189.9M
Total Capital 4,129.4M 4,111.7M 3,690.1M 3,268.2M 2,824.5M 2,637.7M 2,183.0M 1,776.7M 1,676.3M 1,555.0M 1,292.0M 1,208.4M 1,041.4M 952.4M 699.7M 570.8M 555.5M 564.7M 548.8M 942.4M 1,262.6M 1,104.1M 805.0M 582.0M 431.2M 474.1M 438.1M 412.6M 321.9M 279.5M 237.6M 226.5M
Capital Employed 4,450.0M 4,415.4M 3,939.9M 3,524.5M 3,127.8M 2,995.3M 2,384.7M 1,946.1M 1,890.1M 1,747.5M 1,445.3M 1,328.7M 1,136.1M 1,040.0M 783.6M 325.8M 587.7M 565.3M 600.2M 976.5M 1,287.2M 1,118.0M 487.6M 402.4M 339.7M 474.1M 411.4M 397.3M 298.4M 249.4M 214.4M 211.0M
Invested Capital 3,395.2M 3,311.3M 2,868.6M 2,535.6M 2,514.0M 2,401.3M 1,922.2M 1,770.6M 1,654.7M 1,403.3M 1,257.5M 1,195.3M 1,018.9M 809.8M 545.5M 469.6M 474.3M 432.5M 516.3M 940.9M 1,251.0M 1,079.0M 802.2M 578.8M 430.2M 464.1M 429.6M 406.9M 311.8M 268.7M 230.8M 218.4M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Net Income 472.44M 535.54M 563.73M 465.37M 490.66M 396.87M 239.87M 127.59M 107.66M 72.08M 56.61M 51.76M 50.79M 151.42M 13.35M -33.88M -26.27M -62.11M -245.45M -128.13M 38.88M 100.79M 91.53M 81.73M 66.61M 55.28M 44.44M 41.60M 27.70M 17.40M 14.10M 9.90M
Depreciation & Amortization 16.28M 15.13M 15.45M 14.49M 14.61M 14.33M 15.06M 13.24M 11.74M 10.70M 10.20M 7.62M 5.95M 4.97M 6.36M 7.57M 7.76M 7.87M 7.75M 7.99M 6.73M 4.50M 2.45M 2.38M 2.24M 2.01M 2.12M 2.20M 1.80M 1.60M 1.40M 1.80M
Deferred Income Tax 1.18M 0.50M -3.44M 2.71M -7.77M -4.07M 3.45M 3.85M 4.96M 12.44M 31.31M 32.53M 16.50M -110.91M 3.76M 22.73M 24.84M 9.32M 82.08M -28.14M -28.22M 0.56M 2.49M 6.86M -5.04M -4.31M -2.94M 0.60M 0.30M -2.20M -2.10M -1.80M
Stock-Based Compensation 15.58M 13.22M 14.56M 11.37M 8.79M 8.56M 7.14M 5.85M 5.97M 6.04M 5.32M 3.94M 3.22M 2.34M 1.73M 1.87M 2.81M 3.11M 2.98M 3.17M 3.06M 1.12M -1.04M 3.29M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -265.35M -404.92M -307.67M -14.35M -367.69M -376.38M -23.49M -101.57M -137.37M -141.84M -43.41M -145.28M -200.37M -121.68M -59.80M -18.30M -64.00M 46.27M 122.58M 129.53M -212.48M -200.23M -178.17M -129.61M 50.84M -7.20M 9.51M -71.70M -21.50M -11.10M -1.40M 5.00M
Accounts Receivable 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -13.08M 11.45M 6.20M 16.59M -1.62M 2.33M 1.76M -3.44M 4.27M -1.32M -490.65M -534.97M -39.31M -46.37M -983.30M -414.60M -336.97M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -277.21M -396.96M -297.73M 46.73M -348.65M -508.19M -134.94M -88.36M -157.57M -168.62M -83.78M -159.01M -209.32M -156.71M -73.87M -33.01M -45.00M 37.22M 161.09M 180.52M -158.24M -228.08M -159.61M -122.49M 43.65M -10.19M 10.22M -86.20M -38.10M -19.70M -0.60M 5.80M
Accounts Payable 1.27M 5.77M -6.10M -23.92M -15.91M 58.84M 60.64M -6.49M 3.75M 14.02M 16.33M 9.83M 5.11M 22.54M 5.36M 11.50M -9.23M 10.72M -42.88M -10.78M 7.50M 22.33M -3.97M 3.98M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital 10.59M -13.73M -3.84M -37.15M -3.14M 72.97M 50.81M 6.35M 5.01M 6.56M 7.44M 5.53M 1.51M 10.74M 12.16M -1.06M -8.46M 488.98M 539.34M -0.90M -15.37M 988.83M 400.01M 325.88M 7.19M 2.99M -0.71M 14.50M 16.60M 8.60M -0.80M -0.80M
Other Non-Cash Items 10.33M -29.06M -102.90M 72.54M 45.48M -56.13M -73.70M 16.68M 4.44M -11.95M -25.83M -32.73M -8.76M -0.13M -12.40M -13.96M 17.56M 64.01M 178.93M 217.79M 88.02M 0.63M 4.82M -3.40M 1.85M 0.01M -0.80M -0.40M -0.70M -0.30M -1.60M -0.30M
Net Cash from Operating Activities 250.45M 130.40M 179.74M 552.13M 184.07M -16.82M 168.33M 65.63M -2.59M -52.53M 34.20M -82.16M -132.68M -73.97M -47.00M -33.96M -37.30M 68.48M 148.88M 202.21M -104.01M -92.64M -77.92M -38.74M 116.49M 45.80M 52.50M -27.60M 9.40M 3.40M 13.50M 14.60M
Capital Expenditures (PPE) -5.35M -7.51M -8.42M -5.77M -9.33M -25.30M -11.68M -4.53M -8.14M -8.80M -13.11M -3.66M -2.95M -2.38M -0.93M -1.35M -1.56M -4.01M -3.95M -4.46M -4.81M -3.85M -1.68M -15.74M -0.81M -6.11M -0.91M -1.50M -1.20M -8.50M -0.60M -0.70M
Acquisitions (Net) -32.30M -3.83M -54.09M -23.56M -18.25M -51.62M -28.54M -29.38M -132.15M -8.57M -18.54M -40.89M -18.89M -27.99M -6.52M -5.41M -1.22M -4.19M -4.77M 0.00M 0.00M -23.19M 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 -32.84M 0.00M 0.00M -20.14M 0.00M 0.00M -30.19M -31.87M -12.09M -21.75M 1.84M 0.61M -1.52M 0.00M 0.00M -19.59M 0.00M 0.00M -9.40M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 3.83M 0.00M 0.00M 1.89M 0.00M 0.00M 0.81M 0.68M 3.52M 3.21M 1.23M 1.52M 1.52M 0.00M 0.00M 15.47M 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 Investing Activities -2.90M -9.19M 7.62M 10.70M 18.45M 25.20M 6.35M 35.68M 5.66M 4.04M -3.21M 3.85M 7.12M -5.19M 32.78M -2.57M -15.47M -11.28M 9.45M -9.40M -16.95M -37.09M -18.92M -9.98M -12.42M -13.21M -22.27M -20.80M -21.90M -14.60M -11.90M -8.60M
Net Cash from Investing Activities -40.56M -49.54M -54.90M -18.63M -27.38M -51.72M -33.87M -27.59M -133.96M -9.81M -31.65M -37.63M -12.58M -35.55M 25.32M -9.32M -22.36M -19.48M 0.74M -13.86M -21.76M -64.12M -20.60M -25.73M -13.24M -19.31M -23.18M -22.30M -23.10M -23.10M -12.50M -9.30M
Net Debt Issuance -3.46M 34.82M 120.32M -79.90M -24.97M 91.00M 120.97M -67.77M 31.79M 229.16M 23.72M 124.12M 37.08M 95.01M 66.41M 20.36M 38.82M -21.81M -111.59M -286.84M 132.36M 182.28M 110.06M 88.16M -102.77M -19.92M -9.60M 52.80M -14.90M 38.60M -4.10M -10.60M
Long-Term Debt Issuance -3.46M 34.82M 120.32M -79.90M -24.97M 91.00M 120.97M -67.77M 31.79M 229.16M 23.72M 124.12M 37.08M 95.01M 66.41M 20.36M 38.82M -21.81M -112.65M -286.84M 132.36M 178.05M 108.13M 88.16M -102.77M -19.92M -9.60M 52.80M -14.90M 38.60M -4.10M -10.60M
Short-Term Debt 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 1.06M 0.00M 0.00M 4.23M 1.92M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -200.41M -150.90M -176.95M -65.34M -55.33M -51.52M -1.91M -5.15M -25.71M 0.00M 0.00M 0.00M 0.00M 4.27M 42.09M 0.00M 0.00M 50.32M 0.00M 96.28M -17.25M 2.87M -8.62M -19.99M -8.01M -3.63M -15.24M -7.20M 24.70M -14.30M 0.00M 0.00M
Common Stock Issuance 1.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 57.50M 0.18M 0.00M 0.00M 57.26M 42.09M 0.00M 52.57M 52.57M 0.00M 97.13M 0.64M 3.26M 2.64M 0.00M 1.57M 2.03M 0.33M 0.20M 24.70M 0.00M 0.00M 0.00M
Common Stock Repurchased -201.51M -150.90M -176.95M -65.34M -55.33M -51.52M -1.91M -5.15M -25.71M -50.42M 0.00M 0.00M 0.00M -50.35M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -17.89M -0.39M -11.26M -21.89M -9.58M -5.66M -15.57M -7.40M 0.00M -14.30M 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 -50.42M 0.00M 0.00M 0.00M -50.35M 0.00M 0.00M 0.00M -2.25M 0.00M 96.33M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -3.66M -4.88M -4.88M -4.88M -3.66M 0.00M 0.00M 0.00M 0.00M -5.94M -8.72M -1.42M -1.43M -1.41M -1.45M -1.51M -1.51M -1.60M -1.80M -1.30M 0.00M 0.00M 0.00M
Common 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 -5.94M -8.72M -1.42M -1.43M -1.41M -1.45M -1.51M -1.51M -1.60M -1.80M -1.30M 0.00M 0.00M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -3.66M -4.88M -4.88M -4.88M -3.66M 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 8.23M 18.89M 20.56M 33.00M -1.22M 4.62M 1.20M 19.44M 0.29M -45.90M -0.06M -4.78M -0.14M -2.86M -1.12M 1.51M -7.88M -0.10M -1.09M 0.92M -1.49M -4.23M -1.92M 0.00M 0.00M 0.00M 0.00M 1.70M 4.50M -0.20M 1.70M -0.70M
Net Cash from Financing Activities -195.64M -97.20M -36.07M -112.24M -81.52M 44.10M 120.26M -53.48M 6.38M 179.60M 18.79M 114.46M 32.07M 92.76M 107.38M 21.87M 30.94M 28.41M -118.61M -198.36M 112.20M 179.50M 98.10M 66.72M -112.29M -25.05M -26.43M 45.50M 13.00M 24.10M -2.40M -11.30M
Effect of FX on Cash 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 13.70M 19.70M -1.00M -5.30M
Net Change in Cash 14.25M -16.33M 88.77M 421.26M 75.17M -24.44M 254.73M -15.45M -130.17M 117.26M 21.34M -5.33M -113.19M -16.77M 85.71M -21.42M -28.72M 77.41M 31.01M -10.01M -13.57M 22.73M -0.42M 2.26M -9.04M 1.43M 2.89M -4.40M 13.00M 24.10M -2.40M -11.30M
Cash at Beginning of Period 3,118.27M 3,176.68M 732.80M 311.54M 236.37M 260.81M 6.08M 21.53M 151.70M 34.44M 13.10M 15.54M 128.73M 145.50M 59.79M 81.21M 109.93M 32.52M 1.51M 11.52M 25.09M 2.35M 3.21M 0.95M 9.99M 8.56M 5.67M 10.10M 10.80M 6.40M 8.10M 14.10M
Cash at End of Period 3,132.52M 3,160.34M 821.57M 732.80M 311.54M 236.37M 260.81M 6.08M 21.53M 151.70M 34.44M 10.21M 15.54M 128.73M 145.50M 59.79M 81.21M 109.93M 32.52M 1.51M 11.52M 25.09M 2.79M 3.21M 0.95M 9.99M 8.56M 5.70M 23.80M 30.50M 5.70M 2.80M
Operating Cash Flow 250.45M 130.40M 179.74M 552.13M 184.07M -16.82M 168.33M 65.63M -2.59M -52.53M 34.20M -82.16M -132.68M -73.97M -47.00M -33.96M -37.30M 68.48M 148.88M 202.21M -104.01M -92.64M -77.92M -38.74M 116.49M 45.80M 52.50M -27.60M 9.40M 3.40M 13.50M 14.60M
Capital Expenditure -7.42M -7.51M -8.42M -5.77M -9.33M -25.30M -11.68M -4.53M -8.14M -8.80M -13.11M -3.66M -2.95M -2.38M -0.93M -1.35M -1.56M -4.01M -3.95M -4.46M -4.81M -3.85M -1.68M -15.74M -0.81M -6.11M -0.91M -1.50M -1.20M -8.50M -0.60M -0.70M
Free Cash Flow 243.03M 122.90M 171.32M 546.36M 174.74M -42.12M 156.66M 61.11M -10.73M -61.33M 21.09M -85.82M -135.62M -76.36M -47.93M -35.31M -38.86M 64.47M 144.93M 197.75M -108.82M -96.48M -79.60M -54.48M 115.68M 39.69M 51.59M -29.10M 8.20M -5.10M 12.90M 13.90M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
EBITDA 613.79M 683.65M 721.55M 596.32M 652.06M 532.63M 342.76M 205.46M 174.90M 149.36M 118.95M 119.42M 88.70M 63.67M 35.19M -11.32M 10.68M -75.71M -201.73M 20.84M 154.85M 180.03M 162.09M 147.12M 125.25M 103.22M 95.16M 87.50M 63.30M 44.40M 39.00M 34.20M
(-) Tax Adjustment 143.50M 161.39M 167.09M 139.35M 148.38M 117.43M 77.57M 47.57M 41.63M 52.28M 41.63M 41.80M 24.10M 0.00M 0.00M -0.01M 0.44M -25.14M 0.00M 7.29M 54.20M 63.01M 56.73M 51.49M 43.84M 36.13M 33.31M 30.63M 22.16M 15.54M 13.65M 11.97M
(-) Change In Working Capital -265.35M -404.92M -307.67M -14.35M -367.69M -376.38M -23.49M -101.57M -137.37M -141.84M -43.41M -145.28M -200.37M -121.68M -59.80M -18.30M -64.00M 46.27M 122.58M 129.53M -212.48M -200.23M -178.17M -129.61M 50.84M -7.20M 9.51M -71.70M -21.50M -11.10M -1.40M 5.00M
(-) Capital Expenditure -7.42M -7.51M -8.42M -5.77M -9.33M -25.30M -11.68M -4.53M -8.14M -8.80M -13.11M -3.66M -2.95M -2.38M -0.93M -1.35M -1.56M -4.01M -3.95M -4.46M -4.81M -3.85M -1.68M -15.74M -0.81M -6.11M -0.91M -1.50M -1.20M -8.50M -0.60M -0.70M
Unlevered Free Cash Flow 728.22M 919.68M 853.71M 465.54M 862.04M 766.28M 277.00M 254.93M 262.50M 230.13M 107.62M 219.24M 262.02M 182.96M 94.06M 5.63M 72.68M -100.85M -328.25M -120.45M 308.32M 313.40M 281.84M 209.49M 29.76M 68.18M 51.43M 127.08M 61.45M 31.46M 26.15M 16.53M
(-) Net Interest Income After Taxes -20.46M 22.21M 21.14M 15.34M -1.74M -1.68M -7.49M -16.43M -15.61M -12.27M -11.44M -11.39M -9.73M -15.94M -16.07M -14.99M -9.03M -5.66M -11.20M -9.97M 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 Debt Issuance -3.46M 34.82M 120.32M -79.90M -24.97M 91.00M 120.97M -67.77M 31.79M 229.16M 23.72M 124.12M 37.08M 95.01M 66.41M 20.36M 38.82M -21.81M -111.59M -286.84M 132.36M 182.28M 110.06M 88.16M -102.77M -19.92M -9.60M 52.80M -14.90M 38.60M -4.10M -10.60M
Levered Free Cash Flow 745.22M 932.29M 952.88M 370.30M 838.81M 858.96M 405.47M 203.59M 309.91M 471.56M 142.78M 354.75M 308.84M 293.91M 176.54M 40.98M 120.53M -117.00M -428.64M -397.31M 440.68M 495.68M 391.90M 297.65M -73.00M 48.27M 41.84M 179.88M 46.55M 70.06M 22.05M 5.93M