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Definitive Analysis

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Page: Company Financials

Altria Group, Inc.

Ticker: MO | Industry: Tobacco | Sector: Consumer Defensive
$61.91 +0.70 (1.14%)
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 66.06 58.63 61.57 48.15 43.08 45.03 47.94 39.39 49.06 57.21 70.18 65.62 52.89 43.65 35.61 32.63 27.23 22.30 17.46 19.42 22.24 18.73 17.01 12.99 10.60 10.84 11.81 7.40 8.10 11.04 10.33 8.10
Market Capitalization 111,245.04M 98,732.92M 103,803.92M 82,596.40M 76,575.09M 81,190.15M 88,332.33M 73,204.72M 91,624.84M 107,792.72M 134,693.24M 127,962.73M 103,558.62M 86,108.04M 71,556.16M 65,990.32M 56,112.38M 46,363.60M 36,001.31M 40,322.93M 46,819.96M 39,024.00M 35,209.27M 26,637.51M 21,507.89M 22,848.40M 25,747.12M 16,562.02M 19,343.52M 26,795.02M 25,011.70M 19,911.85M
(-) Cash & Equivalents 0.00M 1,287.00M 2,004.33M 2,607.75M 2,502.50M 3,608.25M 3,792.50M 4,877.50M 2,217.25M 1,836.75M 2,829.50M 2,875.25M 2,268.25M 2,593.75M 3,433.00M 2,692.50M 2,952.25M 2,039.50M 1,825.75M 3,514.75M 5,124.00M 4,645.00M 6,290.00M 5,162.00M 4,012.00M 695.75M 433.25M 3,541.50M 4,644.50M 4,166.00M 924.75M 636.00M
(+) Total Debt 25,701.00M 24,720.00M 25,493.33M 25,036.50M 25,978.25M 27,143.25M 28,523.00M 29,434.75M 28,588.25M 16,861.50M 13,888.75M 13,361.50M 13,415.25M 14,167.75M 14,536.25M 13,783.50M 13,314.75M 12,183.00M 12,485.25M 3,263.50M 8,977.50M 20,847.50M 25,460.75M 24,285.00M 26,150.75M 22,160.00M 23,183.00M 17,112.00M 14,341.25M 15,288.25M 15,349.50M 16,068.50M
Enterprise Value 136,946.04M 122,165.92M 127,292.92M 105,025.15M 100,050.84M 104,725.15M 113,062.83M 97,761.97M 117,995.84M 122,817.47M 145,752.49M 138,448.98M 114,705.62M 97,682.04M 82,659.41M 77,081.32M 66,474.88M 56,507.10M 46,660.81M 40,071.68M 50,673.46M 55,226.50M 54,380.02M 45,760.51M 43,646.64M 44,312.65M 48,496.87M 30,132.52M 29,040.27M 37,917.27M 39,436.45M 35,344.35M

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 20,166M 20,362M 20,444M 20,502M 20,688M 21,111M 20,841M 19,796M 19,627M 19,494M 19,337M 18,854M 17,945M 17,663M 17,500M 16,619M 16,892M 16,824M 15,957M 15,212M 15,173M 63,741M 63,963M 60,192M 61,707M 63,670M 56,233M 61,751M 57,813M 56,114M 54,553M 53,139M
Cost of Revenue 5,651M 6,100M 6,077M 6,218M 6,442M 7,119M 7,818M 7,085M 7,373M 7,531M 7,765M 7,740M 7,785M 7,206M 7,937M 7,680M 7,704M 7,990M 8,270M 7,827M 7,387M 43,853M 33,853M 31,465M 32,394M 33,900M 29,687M 28,441M 25,714M 25,574M 25,463M 25,605M
Gross Profit 14,515M 14,262M 14,367M 14,284M 14,246M 13,992M 13,023M 12,711M 12,254M 11,963M 11,572M 11,114M 10,160M 10,457M 9,563M 8,939M 9,188M 8,834M 7,687M 7,385M 7,786M 19,888M 30,110M 28,727M 29,313M 29,770M 26,546M 33,310M 32,099M 30,540M 29,090M 27,534M
Gross Profit Margin 72.0% 70.0% 70.3% 69.7% 68.9% 66.3% 62.5% 64.2% 62.4% 61.4% 59.8% 58.9% 56.6% 59.2% 54.6% 53.8% 54.4% 52.5% 48.2% 48.5% 51.3% 31.2% 47.1% 47.7% 47.5% 46.8% 47.2% 53.9% 55.5% 54.4% 53.3% 51.8%
R&D Expenses 43M 132M 208M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 809M 756M 680M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 1,894M 2,753M 2,737M 2,737M 2,327M 2,432M 2,150M 2,226M 2,756M 2,338M 2,662M 2,708M 2,539M 2,340M 2,301M 2,643M 2,735M 2,843M 2,753M 2,784M 3,113M 7,664M 12,856M 11,782M 11,537M 12,461M 11,423M 18,118M 17,051M 15,720M 15,630M 15,337M
Operating Expenses 3,385M 3,107M 3,126M 2,737M 2,327M 2,432M 2,150M 2,385M 3,139M 2,370M 2,811M 2,753M 2,540M 2,373M 2,310M 2,871M 2,960M 3,372M 2,805M 3,012M 3,268M 8,048M 14,930M 12,968M 12,865M 14,068M 11,740M 19,820M 18,741M 17,420M 17,321M 17,008M
Operating Income (EBIT) 11,130M 11,155M 11,241M 11,547M 11,919M 11,560M 10,873M 10,326M 9,115M 9,593M 8,761M 8,361M 7,620M 8,084M 7,253M 6,068M 6,228M 5,462M 4,882M 4,373M 4,518M 11,840M 15,180M 15,759M 16,448M 15,702M 14,806M 13,490M 13,358M 13,120M 11,769M 10,526M
Operating Income Margin 55.2% 54.8% 55.0% 56.3% 57.6% 54.8% 52.2% 52.2% 46.4% 49.2% 45.3% 44.3% 42.5% 45.8% 41.4% 36.5% 36.9% 32.5% 30.6% 28.7% 29.8% 18.6% 23.7% 26.2% 26.7% 24.7% 26.3% 21.8% 23.1% 23.4% 21.6% 19.8%
Interest Income 0M 0M 87M 160M 70M 26M 14M 42M 32M 31M 13M 4M 2M 4M 2M 4M 3M 4M 70M 270M 404M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Interest Expense 1,070M 1,013M 1,124M 1,149M 1,128M 1,188M 1,223M 1,322M 697M 736M 760M 821M 810M 1,053M 1,128M 1,220M 1,136M 1,189M 237M 475M 629M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Net Interest Income -1,070M -1,013M -1,037M -989M -1,058M -1,162M -1,209M -1,280M -665M -705M -747M -817M -808M -1,049M -1,126M -1,216M -1,133M -1,185M -167M -205M -225M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Unusual Items 593M 3,474M 3,454M 370M -3,472M -6,574M -2,774M -8,280M 891M 940M 13,838M 534M 962M -93M 350M 730M 628M 600M 74M 510M 460M -521M -1,176M -1,150M 1,497M -1,418M -846M -795M -4,271M -2,509M -1,086M -1,179M
EBT Excluding Unusual Items 10,060M 10,142M 10,204M 10,558M 10,861M 10,398M 9,664M 9,046M 8,450M 8,888M 8,014M 7,544M 6,812M 7,035M 6,127M 4,852M 5,095M 4,277M 4,715M 4,168M 4,293M 11,840M 15,180M 15,759M 16,448M 15,702M 14,806M 13,490M 13,358M 13,120M 11,769M 10,526M
Pre-Tax Income 10,653M 13,616M 13,658M 10,928M 7,389M 3,824M 6,890M 766M 9,341M 9,828M 21,852M 8,078M 7,774M 6,942M 6,477M 5,582M 5,723M 4,877M 4,789M 4,678M 4,753M 11,319M 14,004M 14,609M 17,945M 14,284M 13,960M 12,695M 9,087M 10,611M 10,683M 9,347M
Pre-Tax Margin 52.8% 66.9% 66.8% 53.3% 35.7% 18.1% 33.1% 3.9% 47.6% 50.4% 113.0% 42.8% 43.3% 39.3% 37.0% 33.6% 33.9% 29.0% 30.0% 30.8% 31.3% 17.8% 21.9% 24.3% 29.1% 22.4% 24.8% 20.6% 15.7% 18.9% 19.6% 17.6%
Income Tax Expense 1,784M 3,331M 2,394M 2,798M 1,625M 1,349M 2,436M 2,064M 2,374M -399M 7,608M 2,835M 2,704M 2,407M 2,294M 2,189M 1,816M 1,669M 1,699M 1,547M 1,571M 3,409M 4,540M 5,097M 6,368M 5,407M 5,450M 5,020M 3,715M 4,301M 4,380M 3,869M
Net Income 8,869M 10,285M 11,264M 8,130M 5,764M 2,475M 4,467M -1,293M 6,963M 10,222M 14,239M 5,241M 5,070M 4,535M 4,180M 3,390M 3,905M 3,206M 4,930M 9,786M 12,022M 7,937M 9,416M 9,204M 11,102M 8,560M 8,510M 7,675M 5,372M 6,310M 6,303M 5,450M
Net Income Margin 44.0% 50.5% 55.1% 39.7% 27.9% 11.7% 21.4% -6.5% 35.5% 52.4% 73.6% 27.8% 28.3% 25.7% 23.9% 20.4% 23.1% 19.1% 30.9% 64.3% 79.2% 12.5% 14.7% 15.3% 18.0% 13.4% 15.1% 12.4% 9.3% 11.2% 11.6% 10.3%
Depreciation & Amortization 285M 291M 286M 272M 226M 244M 257M 226M 227M 209M 204M 225M 208M 212M 225M 253M 276M 291M 215M 232M 255M 1,675M 1,607M 1,440M 1,331M 2,337M 1,717M 1,702M 1,690M 1,700M 1,691M 1,671M
EBITDA 11,415M 11,446M 11,527M 11,819M 12,145M 11,804M 11,130M 10,552M 9,342M 9,802M 8,965M 8,586M 7,828M 8,296M 7,478M 6,321M 6,504M 5,753M 5,097M 4,605M 4,773M 13,515M 16,787M 17,199M 17,779M 18,039M 16,523M 15,192M 15,048M 14,820M 13,460M 12,197M
EBITDA Margin 56.6% 56.2% 56.4% 57.6% 58.7% 55.9% 53.4% 53.3% 47.6% 50.3% 46.4% 45.5% 43.6% 47.0% 42.7% 38.0% 38.5% 34.2% 31.9% 30.3% 31.5% 21.2% 26.2% 28.6% 28.8% 28.3% 29.4% 24.6% 26.0% 26.4% 24.7% 23.0%
NOPAT 9,266M 8,426M 9,271M 8,591M 9,298M 7,482M 7,029M -17,498M 6,798M 9,982M 5,711M 5,427M 4,970M 5,281M 4,684M 3,688M 4,252M 3,593M 3,150M 2,927M 3,025M 8,274M 10,259M 10,261M 10,611M 9,758M 9,026M 8,156M 7,897M 7,802M 6,944M 6,169M
NOPAT Margin 45.9% 41.4% 45.3% 41.9% 44.9% 35.4% 33.7% -88.4% 34.6% 51.2% 29.5% 28.8% 27.7% 29.9% 26.8% 22.2% 25.2% 21.4% 19.7% 19.2% 19.9% 13.0% 16.0% 17.0% 17.2% 15.3% 16.1% 13.2% 13.7% 13.9% 12.7% 11.6%
Owner's Earnings 8,973M 10,428M 11,408M 8,206M 5,785M 2,550M 4,493M -1,313M 6,952M 10,232M 14,254M 5,237M 5,115M 4,616M 4,281M 3,538M 4,013M 3,224M 4,904M 8,560M 9,823M 7,406M 9,110M 8,670M 10,424M 8,975M 8,545M 7,628M 5,241M 6,136M 5,596M 5,500M
Owner's Earnings Margin 44.5% 51.2% 55.8% 40.0% 28.0% 12.1% 21.6% -6.6% 35.4% 52.5% 73.7% 27.8% 28.5% 26.1% 24.5% 21.3% 23.8% 19.2% 30.7% 56.3% 64.7% 11.6% 14.2% 14.4% 16.9% 14.1% 15.2% 12.4% 9.1% 10.9% 10.3% 10.4%
EPS (Basic) 5.25 5.92 6.54 4.61 3.19 1.34 2.40 -0.69 3.69 5.31 7.28 2.67 2.56 2.26 2.06 1.64 1.87 1.55 2.38 4.66 5.76 5.04 4.60 4.54 5.26 3.92 3.85 3.21 2.21 2.61 2.56 2.16
EPS (Diluted) 5.25 5.92 6.56 4.58 3.20 1.34 2.40 -0.69 3.69 5.32 7.29 2.67 2.56 2.26 2.06 1.64 1.88 1.55 2.36 4.62 5.71 3.80 4.56 4.52 5.21 3.87 3.73 3.19 2.20 2.58 2.56 2.15
Shares (Basic) 1,687M 1,737M 1,718M 1,763M 1,804M 1,845M 1,858M 1,869M 1,887M 1,921M 1,952M 1,961M 1,978M 1,999M 2,024M 2,064M 2,077M 2,066M 2,071M 2,101M 2,087M 2,070M 2,047M 2,028M 2,111M 2,181M 2,272M 2,391M 2,431M 2,420M 2,462M 2,523M
Shares (Diluted) 1,688M 1,737M 1,718M 1,777M 1,804M 1,845M 1,859M 1,869M 1,888M 1,921M 1,952M 1,963M 1,980M 2,007M 2,029M 2,064M 2,079M 2,071M 2,089M 2,116M 2,105M 2,090M 2,063M 2,038M 2,129M 2,210M 2,282M 2,406M 2,442M 2,442M 2,462M 2,532M

Product Segments

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
Other Segments -10.00M 46.00M 38.00M 60.00M 40.00M 45.00M -83.00M 58.00M 114.00M 87.00M 96.00M 71.00M 131.00M 211.00M 150.00M -313.00M
Smokeable Products 20,629.00M 21,215.00M 21,204.00M 21,756.00M 22,476.00M 22,866.00M 23,089.00M 21,996.00M 22,297.00M 22,636.00M 22,851.00M 22,792.00M 21,939.00M 21,868.00M 22,216.00M 21,970.00M
Smokeless Products 2,788.00M 2,758.00M 2,776.00M 2,667.00M 2,580.00M 2,608.00M 2,533.00M 2,367.00M 2,262.00M 2,155.00M 2,051.00M 1,879.00M 1,809.00M 1,778.00M 1,691.00M 1,627.00M
Wine 0.00M 0.00M 0.00M 0.00M 0.00M 494.00M 614.00M 689.00M 691.00M 698.00M 746.00M 692.00M 643.00M 609.00M 561.00M 516.00M

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 3,472.00M 1,287.00M 3,127.00M 3,686.00M 4,030.00M 4,544.00M 4,945.00M 2,117.00M 1,333.00M 1,253.00M 4,569.00M 2,369.00M 3,321.00M 3,175.00M 2,900.00M 3,270.00M 2,314.00M 1,871.00M 7,916.00M 4,842.00M 4,781.00M 6,258.00M 5,744.00M 3,777.00M 565.00M 453.00M 937.00M 5,100.00M 4,081.00M 2,282.00M 240.00M 1,138.00M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 3,472.00M 1,287.00M 3,127.00M 3,686.00M 4,030.00M 4,544.00M 4,945.00M 2,117.00M 1,333.00M 1,253.00M 4,569.00M 2,369.00M 3,321.00M 3,175.00M 2,900.00M 3,270.00M 2,314.00M 1,871.00M 7,916.00M 4,842.00M 4,781.00M 6,258.00M 5,744.00M 3,777.00M 565.00M 453.00M 937.00M 5,100.00M 4,081.00M 2,282.00M 240.00M 1,138.00M
Net Receivables 249.00M 241.00M 270.00M 567.00M 1,872.00M 47.00M 137.00M 152.00M 309.00M 603.00M 420.00M 124.00M 124.00M 115.00M 193.00M 268.00M 85.00M 96.00M 44.00M 83.00M 2,808.00M 5,361.00M 5,754.00M 5,256.00M 5,139.00M 5,148.00M 5,019.00M 4,313.00M 4,691.00M 4,294.00M 4,466.00M 4,508.00M
Inventory 1,065.00M 1,016.00M 1,080.00M 1,215.00M 1,180.00M 1,194.00M 1,966.00M 2,293.00M 2,331.00M 2,225.00M 2,051.00M 2,031.00M 2,040.00M 1,879.00M 1,746.00M 1,779.00M 1,803.00M 1,810.00M 1,069.00M 10,571.00M 12,186.00M 10,584.00M 10,041.00M 9,540.00M 9,127.00M 8,923.00M 8,765.00M 9,028.00M 9,445.00M 9,039.00M 9,002.00M 7,862.00M
Other Current Assets 333.00M 88.00M 36.00M 117.00M 138.00M 298.00M 69.00M 262.00M 326.00M 263.00M 220.00M 387.00M 1,393.00M 1,421.00M 1,476.00M 1,603.00M 1,779.00M 1,996.00M 2,047.00M 16,711.00M 9,883.00M 3,578.00M 4,362.00M 2,809.00M 2,610.00M 2,751.00M 2,517.00M 2,454.00M 2,013.00M 1,825.00M 1,482.00M 1,371.00M
Total Current Assets 5,119.00M 2,632.00M 4,513.00M 5,585.00M 7,220.00M 6,083.00M 7,117.00M 4,824.00M 4,299.00M 4,344.00M 7,260.00M 4,911.00M 6,878.00M 6,590.00M 6,315.00M 6,920.00M 5,981.00M 5,773.00M 11,076.00M 32,207.00M 29,658.00M 25,781.00M 25,901.00M 21,382.00M 17,441.00M 17,275.00M 17,238.00M 20,895.00M 20,230.00M 17,440.00M 15,190.00M 14,879.00M
Property, Plant & Equipment 1,617.00M 1,610.00M 1,617.00M 1,652.00M 1,608.00M 1,553.00M 2,012.00M 1,999.00M 1,938.00M 1,914.00M 1,958.00M 1,982.00M 1,983.00M 2,028.00M 2,102.00M 2,216.00M 2,380.00M 2,684.00M 2,199.00M 8,857.00M 17,274.00M 16,678.00M 16,305.00M 16,067.00M 14,846.00M 15,137.00M 15,303.00M 12,271.00M 12,335.00M 11,621.00M 17,096.00M 11,116.00M
Goodwill 6,072.00M 6,072.00M 6,945.00M 6,791.00M 5,177.00M 5,177.00M 5,177.00M 5,177.00M 5,196.00M 5,307.00M 5,285.00M 5,285.00M 5,285.00M 5,174.00M 5,174.00M 5,174.00M 5,174.00M 5,174.00M 77.00M 8,001.00M 33,235.00M 31,219.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 12,866.00M 12,900.00M 12,973.00M 13,686.00M 12,384.00M 12,306.00M 12,615.00M 12,687.00M 12,279.00M 12,400.00M 12,036.00M 12,028.00M 12,049.00M 12,058.00M 12,078.00M 12,098.00M 12,118.00M 12,138.00M 3,039.00M 4,953.00M 12,085.00M 12,196.00M 39,112.00M 39,545.00M 37,871.00M 37,548.00M 33,090.00M 16,879.00M 17,566.00M 17,789.00M 18,998.00M 19,319.00M
Long-Term Investments 8,385.00M 8,143.00M 8,195.00M 10,011.00M 9,600.00M 13,481.00M 19,529.00M 23,581.00M 30,496.00M 18,851.00M 18,880.00M 6,722.00M 7,797.00M 8,452.00M 6,637.00M 5,509.00M 9,898.00M 4,980.00M 9,712.00M 0.00M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 5,083.00M 5,172.00M 5,247.00M 8,416.00M 5,663.00M 6,088.00M 6,854.00M 4,953.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 949.00M 975.00M 934.00M 845.00M 965.00M 923.00M 964.00M -4,080.00M -3,742.00M -3,962.00M 513.00M -5,231.00M 483.00M 557.00M 3,023.00M 1,085.00M 1,851.00M 5,928.00M 1,112.00M 1,986.00M 4,984.00M 22,075.00M 20,330.00M 19,181.00M 17,382.00M 15,008.00M 13,436.00M 11,336.00M 9,789.00M 9,097.00M 3,587.00M 8,497.00M
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 29,889.00M 29,700.00M 30,664.00M 32,985.00M 29,734.00M 33,440.00M 40,297.00M 44,447.00M 51,339.00M 39,757.00M 47,088.00M 26,449.00M 33,685.00M 35,123.00M 33,967.00M 26,082.00M 31,421.00M 30,904.00M 16,139.00M 23,797.00M 67,578.00M 82,168.00M 75,747.00M 74,793.00M 70,099.00M 67,693.00M 61,829.00M 40,486.00M 39,690.00M 38,507.00M 39,681.00M 38,932.00M
Total Assets 35,008.00M 32,332.00M 35,177.00M 38,570.00M 36,954.00M 39,523.00M 47,414.00M 49,271.00M 55,638.00M 44,101.00M 54,348.00M 31,360.00M 40,563.00M 41,713.00M 40,282.00M 33,002.00M 37,402.00M 36,677.00M 27,215.00M 56,004.00M 97,236.00M 107,949.00M 101,648.00M 96,175.00M 87,540.00M 84,968.00M 79,067.00M 61,381.00M 59,920.00M 55,947.00M 54,871.00M 53,811.00M
Accounts Payable 662.00M 569.00M 700.00M 582.00M 552.00M 449.00M 380.00M 325.00M 399.00M 374.00M 425.00M 400.00M 416.00M 409.00M 451.00M 503.00M 529.00M 494.00M 510.00M 611.00M 1,414.00M 3,645.00M 3,466.00M 3,198.00M 3,088.00M 3,600.00M 3,787.00M 3,351.00M 3,359.00M 3,318.00M 3,409.00M 3,364.00M
Short-Term Debt 1,569.00M 1,069.00M 1,527.00M 1,121.00M 1,556.00M 1,105.00M 1,500.00M 1,000.00M 13,848.00M 864.00M 0.00M 4.00M 1,000.00M 525.00M 1,459.00M 600.00M 0.00M 775.00M 135.00M 3,083.00M 4,201.00M 6,266.00M 4,297.00M 3,376.00M 1,965.00M 3,451.00M 9,968.00M 2,242.00M 2,047.00M 1,673.00M 2,279.00M 2,719.00M
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 220.00M 231.00M 318.00M 98.00M 0.00M 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 0.00M 0.00M 0.00M 2,700.00M 2,700.00M 2,900.00M 3,184.00M 3,021.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 11,994.00M 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 0.00M 0.00M 1,732.00M 1,735.00M -1,015.00M -1,253.00M -1,582.00M -1,456.00M 1,503.00M 1,258.00M 1,188.00M 1,118.00M 1,028.00M 959.00M -8.00M 0.00M 232.00M 239.00M 0.00M 239.00M 419.00M 3,065.00M 2,488.00M 2,703.00M 2,413.00M 2,272.00M 13,221.00M 12,424.00M 10,973.00M 10,080.00M 9,352.00M 8,861.00M
Total Current Liabilities 2,231.00M 1,638.00M 3,959.00M 6,138.00M 3,793.00M 3,201.00M 3,482.00M 2,890.00M 15,750.00M 2,496.00M 1,613.00M 1,522.00M 2,444.00M 1,893.00M 1,902.00M 1,323.00M 992.00M 1,826.00M 743.00M 15,927.00M 6,034.00M 12,976.00M 10,251.00M 9,277.00M 7,466.00M 9,323.00M 26,976.00M 18,017.00M 16,379.00M 15,071.00M 15,040.00M 14,944.00M
Long-Term Debt 24,132.00M 23,651.00M 23,399.00M 25,112.00M 25,124.00M 26,939.00M 27,971.00M 27,042.00M 11,898.00M 13,030.00M 13,881.00M 12,843.00M 13,693.00M 13,992.00M 12,419.00M 13,089.00M 12,194.00M 11,185.00M 7,339.00M 7,963.00M 14,498.00M 17,868.00M 18,683.00M 21,163.00M 21,355.00M 18,651.00M 19,154.00M 12,226.00M 12,615.00M 12,430.00M 12,961.00M 13,107.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 3,462.00M 3,661.00M 3,749.00M 2,799.00M 2,897.00M 3,692.00M 4,532.00M 5,083.00M 5,172.00M 5,247.00M 8,416.00M 5,663.00M 6,088.00M 6,854.00M 4,953.00M 7,562.00M 4,618.00M 8,563.00M 4,995.00M 7,093.00M 10,851.00M 14,229.00M 13,553.00M 13,110.00M 11,633.00M 10,484.00M 6,665.00M 5,680.00M 5,080.00M 4,766.00M 4,367.00M 3,738.00M
Other Non-Current Liabilities 1,724.00M 1,438.00M 1,436.00M 2,830.00M 1,540.00M 1,919.00M 2,883.00M 2,615.00M 2,586.00M 2,715.00M 3,449.00M 4,006.00M 3,976.00M 2,802.00M 4,837.00M 932.00M 4,930.00M 1,382.00M 1,310.00M 4,819.00M 10,347.00M 9,846.00M 10,360.00M 10,672.00M 11,626.00M 11,547.00M 11,267.00M 10,153.00M 9,649.00M 8,760.00M 8,285.00M 8,037.00M
Total Non-Current Liabilities 29,318.00M 28,750.00M 28,584.00M 30,741.00M 29,561.00M 32,550.00M 35,386.00M 34,740.00M 19,656.00M 20,992.00M 25,746.00M 22,512.00M 23,757.00M 23,648.00M 22,209.00M 21,583.00M 21,742.00M 21,130.00M 13,644.00M 19,875.00M 35,696.00M 41,943.00M 42,596.00M 44,945.00M 44,614.00M 40,682.00M 37,086.00M 28,059.00M 27,344.00M 25,956.00M 25,613.00M 24,882.00M
Total Liabilities 31,549.00M 30,388.00M 32,543.00M 36,879.00M 33,354.00M 35,751.00M 38,868.00M 37,630.00M 35,406.00M 23,488.00M 27,359.00M 24,034.00M 26,201.00M 25,541.00M 24,111.00M 22,906.00M 22,734.00M 22,956.00M 14,387.00M 35,802.00M 41,730.00M 54,919.00M 52,847.00M 54,222.00M 52,080.00M 50,005.00M 64,062.00M 46,076.00M 43,723.00M 41,027.00M 40,653.00M 39,826.00M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 348.00M 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 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 935.00M 0.00M 0.00M 0.00M 0.00M
Retained Earnings 36,115.00M 35,525.00M 35,516.00M 31,094.00M 29,792.00M 30,664.00M 34,679.00M 36,539.00M 43,962.00M 42,251.00M 36,906.00M 27,257.00M 26,277.00M 25,168.00M 24,316.00M 23,583.00M 23,459.00M 22,599.00M 22,131.00M 34,426.00M 59,879.00M 54,666.00M 50,595.00M 47,008.00M 43,259.00M 37,269.00M 33,481.00M 29,556.00M 26,261.00M 24,924.00M 22,478.00M 19,779.00M
Accumulated OCI -2,709.00M -2,831.00M -2,400.00M -2,673.00M -2,771.00M -3,056.00M -4,341.00M -2,864.00M -2,547.00M -1,897.00M -2,052.00M -3,280.00M -2,682.00M -1,378.00M -2,040.00M -1,887.00M -1,484.00M -1,561.00M -2,181.00M -237.00M -3,808.00M -1,853.00M -1,141.00M -2,125.00M -3,956.00M -3,373.00M -2,950.00M -2,108.00M -8,899.00M -8,381.00M -8,221.00M -7,485.00M
Minority Interest 50.00M 50.00M 50.00M 50.00M 50.00M 0.00M 86.00M 97.00M 2.00M 3.00M 3.00M -7.00M -4.00M -1.00M 2.00M 35.00M 35.00M 3.00M 0.00M 0.00M 3,528.00M 4,141.00M 4,764.00M 4,760.00M 4,366.00M 4,013.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 34,341.00M 33,629.00M 34,051.00M 29,356.00M 27,956.00M 28,543.00M 31,273.00M 34,610.00M 42,350.00M 41,289.00M 35,789.00M 24,912.00M 24,530.00M 24,725.00M 23,211.00M 22,631.00M 22,910.00M 21,973.00M 20,885.00M 35,472.00M 57,006.00M 53,748.00M 50,389.00M 45,818.00M 40,238.00M 34,831.00M 31,466.00M 28,383.00M 17,362.00M 16,543.00M 14,257.00M 12,294.00M
Total Equity 34,391.00M 33,679.00M 34,101.00M 29,406.00M 28,006.00M 28,543.00M 31,359.00M 34,707.00M 42,352.00M 41,292.00M 35,792.00M 24,905.00M 24,526.00M 24,724.00M 23,213.00M 22,666.00M 22,945.00M 21,976.00M 20,885.00M 35,472.00M 60,534.00M 57,889.00M 55,153.00M 50,578.00M 44,604.00M 38,844.00M 31,466.00M 28,383.00M 17,362.00M 16,543.00M 14,257.00M 12,294.00M
Total Liabilities & Equity 65,940.00M 64,067.00M 66,644.00M 66,285.00M 61,360.00M 64,294.00M 70,227.00M 72,337.00M 77,758.00M 64,780.00M 63,151.00M 48,939.00M 50,727.00M 50,265.00M 47,324.00M 45,572.00M 45,679.00M 44,932.00M 35,272.00M 71,274.00M 102,264.00M 112,808.00M 108,000.00M 104,800.00M 96,684.00M 88,849.00M 95,528.00M 74,459.00M 61,085.00M 57,570.00M 54,910.00M 52,120.00M
Tangible Assets 16,070.00M 13,360.00M 15,259.00M 18,093.00M 19,393.00M 22,040.00M 29,622.00M 31,407.00M 38,163.00M 26,394.00M 37,027.00M 14,047.00M 23,229.00M 24,481.00M 23,030.00M 15,730.00M 20,110.00M 19,365.00M 24,099.00M 43,050.00M 51,916.00M 64,534.00M 62,536.00M 56,630.00M 49,669.00M 47,420.00M 45,977.00M 44,502.00M 42,354.00M 38,158.00M 35,873.00M 34,492.00M
Tangible Equity 15,453.00M 14,707.00M 14,183.00M 8,929.00M 10,445.00M 11,060.00M 13,567.00M 16,843.00M 24,877.00M 23,585.00M 18,471.00M 7,592.00M 7,192.00M 7,492.00M 5,961.00M 5,394.00M 5,653.00M 4,664.00M 17,769.00M 22,518.00M 15,214.00M 14,474.00M 16,041.00M 11,033.00M 6,733.00M 1,296.00M -1,624.00M 11,504.00M -204.00M -1,246.00M -4,741.00M -7,025.00M
Tangible Book Value 15,453.00M 14,707.00M 14,183.00M 8,929.00M 10,445.00M 11,060.00M 13,567.00M 16,843.00M 24,877.00M 23,585.00M 18,471.00M 7,592.00M 7,192.00M 7,492.00M 5,961.00M 5,394.00M 5,653.00M 4,664.00M 17,769.00M 22,518.00M 15,214.00M 14,474.00M 16,041.00M 11,033.00M 6,733.00M 1,296.00M -1,624.00M 11,504.00M -204.00M -1,246.00M -4,741.00M -7,025.00M
Total Investments 8,385.00M 8,143.00M 8,195.00M 10,011.00M 9,600.00M 13,481.00M 19,529.00M 23,581.00M 30,496.00M 18,851.00M 18,880.00M 6,722.00M 7,797.00M 8,452.00M 6,637.00M 5,509.00M 9,898.00M 4,980.00M 9,712.00M 0.00M 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 22,229.00M 23,433.00M 21,799.00M 22,547.00M 22,650.00M 23,500.00M 24,526.00M 25,925.00M 24,413.00M 12,641.00M 9,312.00M 10,478.00M 11,372.00M 11,342.00M 10,978.00M 10,419.00M 9,880.00M 10,089.00M -442.00M 6,204.00M 13,918.00M 17,876.00M 17,236.00M 20,762.00M 22,755.00M 21,649.00M 28,185.00M 9,368.00M 10,581.00M 11,821.00M 15,000.00M 14,688.00M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Working Capital -3,167.0M -4,156.0M -4,268.0M -5,734.0M -1,396.0M -2,496.0M -1,946.0M -3,350.0M -16,894.0M -2,448.0M -115.0M -992.0M -795.0M -468.0M -1,936.0M -512.0M -859.0M -2,219.0M 3,934.0M 4,108.0M 725.0M -377.0M 2,327.0M -11.0M -1,641.0M -3,378.0M -9,738.0M 2,878.0M 3,851.0M 2,369.0M 150.0M -65.0M
Total Capital 23,055.0M 21,464.0M 22,688.0M 22,693.0M 22,707.0M 26,438.0M 32,310.0M 34,264.0M 40,532.0M 29,271.0M 26,651.0M 15,792.0M 17,703.0M 18,635.0M 17,015.0M 17,369.0M 17,386.0M 16,029.0M 10,302.0M 29,600.0M 58,318.0M 59,841.0M 53,694.0M 49,616.0M 42,798.0M 41,722.0M 44,127.0M 29,773.0M 30,859.0M 29,023.0M 29,458.0M 29,811.0M
Capital Employed 26,722.0M 25,544.0M 26,396.0M 27,251.0M 28,338.0M 30,944.0M 38,351.0M 41,097.0M 34,445.0M 36,410.0M 38,557.0M 25,457.0M 26,802.0M 27,801.0M 27,078.0M 29,319.0M 30,562.0M 28,685.0M 20,073.0M 38,429.0M 78,843.0M 81,791.0M 78,074.0M 74,782.0M 68,458.0M 64,315.0M 52,091.0M 43,364.0M 43,541.0M 40,876.0M 39,831.0M 38,867.0M
Invested Capital 19,583.0M 20,177.0M 19,561.0M 19,007.0M 18,677.0M 21,894.0M 27,365.0M 32,147.0M 39,199.0M 28,018.0M 22,082.0M 13,423.0M 14,382.0M 15,460.0M 14,115.0M 14,099.0M 15,072.0M 14,158.0M 2,386.0M 24,758.0M 53,537.0M 53,583.0M 47,950.0M 45,839.0M 42,233.0M 41,269.0M 43,190.0M 24,673.0M 26,778.0M 26,741.0M 29,218.0M 28,673.0M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
Net Income 6,228.00M 10,285.00M 11,264.00M 8,130.00M 5,764.00M 2,475.00M 4,454.00M -1,298.00M 6,967.00M 10,227.00M 14,244.00M 5,243.00M 5,070.00M 4,535.00M 4,183.00M 3,393.00M 3,907.00M 3,208.00M 3,090.00M 3,131.00M 3,182.00M 10,435.00M 9,416.00M 9,204.00M 11,102.00M 8,560.00M 8,510.00M 7,675.00M 5,372.00M 6,310.00M 6,303.00M 5,478.00M
Depreciation & Amortization 279.00M 291.00M 286.00M 272.00M 226.00M 244.00M 257.00M 226.00M 227.00M 209.00M 204.00M 225.00M 208.00M 212.00M 225.00M 253.00M 276.00M 291.00M 215.00M 980.00M 1,804.00M 1,675.00M 1,607.00M 1,440.00M 1,331.00M 2,337.00M 1,717.00M 1,702.00M 1,690.00M 1,700.00M 1,691.00M 1,671.00M
Deferred Income Tax -949.00M 884.00M -177.00M 881.00M -931.00M -1,181.00M -164.00M -95.00M -57.00M -3,126.00M 3,119.00M -132.00M -129.00M -86.00M -929.00M -443.00M 124.00M 43.00M -138.00M -219.00M -1,576.00M -989.00M 388.00M 984.00M 1,585.00M 685.00M 1,006.00M 144.00M 276.00M 69.00M 163.00M 314.00M
Stock-Based Compensation 0.00M 58.00M 0.00M 58.00M 50.00M 40.00M 35.00M 32.00M 46.00M 55.00M 44.00M 51.00M 46.00M 49.00M 46.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 2,472.00M 8.00M 151.00M -47.00M -586.00M 3.00M 249.00M -53.00M 1,075.00M -1,854.00M -270.00M 258.00M -194.00M -558.00M 1,194.00M 59.00M -309.00M 21.00M -284.00M -258.00M -132.00M -193.00M -32.00M 116.00M -846.00M -1,057.00M 512.00M 1,922.00M 125.00M 112.00M -672.00M -674.00M
Accounts Receivable -218.00M -27.00M -106.00M 6.00M -21.00M -18.00M 20.00M -8.00M 0.00M 10.00M -27.00M 3.00M -8.00M 78.00M 202.00M -19.00M 15.00M -7.00M -84.00M 162.00M 150.00M 253.00M -193.00M 295.00M -161.00M -437.00M 7.00M 95.00M -352.00M -168.00M 35.00M -431.00M
Inventory -147.00M 73.00M 102.00M -15.00M 14.00M 57.00M 2.00M 42.00M -129.00M -171.00M -34.00M -33.00M -184.00M -133.00M 33.00M 24.00M 7.00M 51.00M 185.00M -889.00M -1,010.00M -524.00M -140.00M 251.00M 38.00M -293.00M 741.00M -39.00M -192.00M -531.00M -952.00M -5.00M
Accounts Payable 38.00M 17.00M 116.00M 38.00M 92.00M 163.00M 53.00M -79.00M 27.00M -55.00M -6.00M -7.00M -5.00M -76.00M 5.00M -60.00M 48.00M -25.00M -162.00M 0.00M 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 2,797.00M -55.00M 39.00M -76.00M -671.00M -199.00M 174.00M -8.00M 1,177.00M -1,638.00M -233.00M 262.00M 3.00M -427.00M 972.00M 146.00M -379.00M 2.00M -223.00M -713.00M -393.00M 78.00M 301.00M -430.00M -723.00M -327.00M -236.00M 1,866.00M 669.00M 811.00M 245.00M -238.00M
Other Non-Cash Items 3,722.00M -2,886.00M -2,771.00M -7.00M 3,694.00M 6,864.00M 3,589.00M 9,057.00M 179.00M -555.00M -13,471.00M 249.00M -292.00M 272.00M -788.00M 319.00M -1,231.00M -120.00M 1,998.00M 7,430.00M 11,857.00M 132.00M -489.00M -928.00M -2,560.00M -1,632.00M -701.00M -68.00M 657.00M 149.00M 149.00M -102.00M
Net Cash from Operating Activities 11,752.00M 8,640.00M 8,753.00M 9,287.00M 8,256.00M 8,405.00M 8,385.00M 7,837.00M 8,391.00M 4,922.00M 3,791.00M 5,810.00M 4,663.00M 4,375.00M 3,903.00M 3,613.00M 2,767.00M 3,443.00M 4,881.00M 10,304.00M 13,586.00M 11,060.00M 10,890.00M 10,816.00M 10,612.00M 8,893.00M 11,044.00M 11,375.00M 8,120.00M 8,340.00M 7,634.00M 6,687.00M
Capital Expenditures (PPE) -181.00M -148.00M -142.00M -196.00M -205.00M -169.00M -231.00M -246.00M -238.00M -199.00M -189.00M -229.00M -163.00M -131.00M -124.00M -105.00M -168.00M -273.00M -241.00M -1,458.00M -2,454.00M -2,206.00M -1,913.00M -1,974.00M -2,009.00M -1,922.00M -1,682.00M -1,749.00M -1,821.00M -1,874.00M -2,398.00M -1,621.00M
Acquisitions (Net) 0.00M 4,053.00M 2,353.00M -1,051.00M 1,000.00M 1,176.00M 0.00M -2,325.00M -12,815.00M -415.00M 3,195.00M 229.00M -102.00M 0.00M 0.00M 0.00M 0.00M -10,244.00M 241.00M -4,413.00M 1,462.00M -4,932.00M -179.00M -1,041.00M -147.00M -451.00M -15,576.00M -522.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -398.00M 0.00M 0.00M 0.00M 3,641.00M 0.00M 0.00M -1,904.00M 238.00M -5.00M -3.00M -132.00M 163.00M 0.00M 0.00M 0.00M 0.00M -9.00M -1.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -652.00M 0.00M 0.00M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,904.00M 72.00M 133.00M 741.00M 354.00M 369.00M 716.00M 1,049.00M 490.00M 312.00M 793.00M 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
Other Investing Activities 376.00M -1,733.00M -36.00M -36.00M -3,654.00M 205.00M 88.00M 173.00M -245.00M 19.00M -36.00M -237.00M -90.00M 17.00M -5.00M 2.00M 115.00M -31.00M 77.00M 616.00M 374.00M 2,253.00M 676.00M 588.00M -315.00M -543.00M -248.00M -411.00M -733.00M 1,907.00M 343.00M 1,512.00M
Net Cash from Investing Activities -203.00M 2,172.00M 2,175.00M -1,283.00M 782.00M 1,212.00M -143.00M -2,398.00M -12,988.00M -467.00M 3,708.00M -15.00M 177.00M 602.00M 920.00M 387.00M 259.00M -9,764.00M 479.00M -5,255.00M -618.00M -4,885.00M -1,416.00M -2,427.00M -2,471.00M -2,916.00M -17,506.00M -2,682.00M -2,554.00M -619.00M -2,055.00M -109.00M
Net Debt Issuance -610.00M -123.00M -1,121.00M -568.00M -1,105.00M -1,070.00M 993.00M 2,321.00M 11,936.00M 0.00M 1,043.00M -1,793.00M 174.00M 620.00M 187.00M 1,494.00M 232.00M 2,964.00M 2,588.00M 2,051.00M -6,464.00M 1,404.00M -2,040.00M 640.00M 2,756.00M -6,772.00M 10,936.00M 231.00M 25.00M -962.00M -534.00M -831.00M
Long-Term Debt Issuance -610.00M -123.00M -1,121.00M -568.00M -1,105.00M -1,070.00M 993.00M 15,121.00M -864.00M 0.00M 1,043.00M -1,793.00M 174.00M 620.00M 187.00M 1,494.00M 232.00M 3,346.00M 2,588.00M -1,117.00M -3,067.00M -1,710.00M -950.00M 640.00M 2,756.00M -6,772.00M 10,936.00M 231.00M 25.00M -962.00M -534.00M -831.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -12,800.00M 12,800.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -205.00M 0.00M 2.00M 1.00M 3,114.00M -1,090.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -220.00M -3,358.00M -3,400.00M -1,000.00M -1,825.00M -1,675.00M 0.00M -845.00M -1,673.00M -2,917.00M -1,030.00M -554.00M -939.00M -634.00M -1,082.00M -1,298.00M 104.00M 89.00M -1,077.00M 0.00M 0.00M -190.00M 139.00M -706.00M -5,666.00M 5,244.00M -3,485.00M -3,255.00M 265.00M -600.00M -2,322.00M -1,829.00M
Common 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 29.00M 104.00M 89.00M 89.00M 423.00M 486.00M 985.00M 827.00M 443.00M 724.00M 9,204.00M 112.00M 74.00M 265.00M 205.00M 448.00M 291.00M
Common Stock Repurchased -220.00M -3,358.00M -3,400.00M -1,000.00M -1,825.00M -1,675.00M 0.00M -845.00M -1,673.00M -2,917.00M -1,030.00M -554.00M -939.00M -634.00M -1,082.00M -1,327.00M 0.00M 0.00M -1,166.00M 0.00M -1,254.00M -1,175.00M -688.00M -1,149.00M -6,390.00M -3,960.00M -3,597.00M -3,329.00M 0.00M -805.00M -2,770.00M -2,120.00M
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 29.00M 0.00M 0.00M 0.00M 0.00M 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 -8,385.00M -6,847.00M -6,845.00M -6,779.00M -6,599.00M -6,446.00M -6,290.00M -6,069.00M -5,415.00M -4,807.00M -4,512.00M -4,179.00M -3,892.00M -3,612.00M -3,400.00M -3,222.00M -2,958.00M -2,693.00M -4,428.00M -6,652.00M -6,815.00M -6,191.00M -5,672.00M -5,285.00M -5,068.00M -4,769.00M -4,500.00M -4,338.00M -3,984.00M -3,885.00M -3,462.00M -2,939.00M
Common Dividends Paid -8,385.00M -6,847.00M -6,845.00M -6,779.00M -6,599.00M -6,446.00M -6,290.00M -6,069.00M -5,415.00M -4,807.00M -4,512.00M -4,179.00M -3,892.00M -3,612.00M -3,400.00M -3,222.00M -2,958.00M -2,693.00M -4,428.00M -6,652.00M -6,815.00M -6,191.00M -5,672.00M -5,285.00M -5,068.00M -4,769.00M -4,500.00M -4,338.00M -3,984.00M -3,885.00M -3,462.00M -2,939.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 5,650.00M -137.00M -125.00M -27.00M -12.00M -838.00M -99.00M -119.00M -132.00M -47.00M -800.00M -221.00M -37.00M -1,076.00M -898.00M -18.00M 39.00M -84.00M 332.00M 922.00M -1,087.00M -157.00M -409.00M -108.00M -187.00M -143.00M -293.00M -135.00M -200.00M -74.00M -88.00M -28.00M
Net Cash from Financing Activities -3,565.00M -10,465.00M -11,491.00M -8,374.00M -9,541.00M -10,029.00M -5,396.00M -4,712.00M 4,716.00M -7,771.00M -5,299.00M -6,747.00M -4,694.00M -4,702.00M -5,193.00M -3,044.00M -2,583.00M 276.00M -2,585.00M -3,679.00M -14,366.00M -5,134.00M -7,982.00M -5,459.00M -8,165.00M -6,440.00M 2,658.00M -7,497.00M -3,894.00M -5,521.00M -6,406.00M -5,627.00M
Effect of FX on Cash 0.00M 4.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -126.00M 347.00M 160.00M -527.00M 475.00M 282.00M 136.00M -21.00M -359.00M -177.00M 127.00M -158.00M -71.00M 3.00M
Net Change in Cash 7,984.00M 347.00M -563.00M -370.00M -503.00M -412.00M 2,846.00M 727.00M 119.00M -3,316.00M 2,200.00M -952.00M 146.00M 275.00M -370.00M 956.00M 443.00M -6,045.00M 3,074.00M 1,717.00M -1,238.00M 514.00M 1,967.00M 3,212.00M 112.00M -484.00M -4,163.00M 1,019.00M 1,799.00M 2,042.00M -898.00M 954.00M
Cash at Beginning of Period 10,771.00M 10,784.00M 3,721.00M 4,091.00M 4,594.00M 5,006.00M 2,160.00M 1,433.00M 1,314.00M 4,569.00M 2,369.00M 3,321.00M 3,175.00M 2,900.00M 3,270.00M 2,314.00M 1,871.00M 7,916.00M 4,842.00M 4,781.00M 6,258.00M 5,744.00M 3,777.00M 565.00M 453.00M 937.00M 5,100.00M 4,081.00M 2,282.00M 240.00M 1,138.00M 184.00M
Cash at End of Period 18,755.00M 11,131.00M 3,158.00M 3,721.00M 4,091.00M 4,594.00M 5,006.00M 2,160.00M 1,433.00M 1,253.00M 4,569.00M 2,369.00M 3,321.00M 3,175.00M 2,900.00M 3,270.00M 2,314.00M 1,871.00M 7,916.00M 6,498.00M 5,020.00M 6,258.00M 5,744.00M 3,777.00M 565.00M 453.00M 937.00M 5,100.00M 4,081.00M 2,282.00M 240.00M 1,138.00M
Operating Cash Flow 11,752.00M 8,640.00M 8,753.00M 9,287.00M 8,256.00M 8,405.00M 8,385.00M 7,837.00M 8,391.00M 4,922.00M 3,791.00M 5,810.00M 4,663.00M 4,375.00M 3,903.00M 3,613.00M 2,767.00M 3,443.00M 4,881.00M 10,304.00M 13,586.00M 11,060.00M 10,890.00M 10,816.00M 10,612.00M 8,893.00M 11,044.00M 11,375.00M 8,120.00M 8,340.00M 7,634.00M 6,687.00M
Capital Expenditure -181.00M -148.00M -142.00M -196.00M -205.00M -169.00M -231.00M -246.00M -238.00M -199.00M -189.00M -229.00M -163.00M -131.00M -124.00M -105.00M -168.00M -273.00M -241.00M -1,458.00M -2,454.00M -2,206.00M -1,913.00M -1,974.00M -2,009.00M -1,922.00M -1,682.00M -1,749.00M -1,821.00M -1,874.00M -2,398.00M -1,621.00M
Free Cash Flow 11,571.00M 8,492.00M 8,611.00M 9,091.00M 8,051.00M 8,236.00M 8,154.00M 7,591.00M 8,153.00M 4,723.00M 3,602.00M 5,581.00M 4,500.00M 4,244.00M 3,779.00M 3,508.00M 2,599.00M 3,170.00M 4,640.00M 8,846.00M 11,132.00M 8,854.00M 8,977.00M 8,842.00M 8,603.00M 6,971.00M 9,362.00M 9,626.00M 6,299.00M 6,466.00M 5,236.00M 5,066.00M

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 1998-12-31 1997-12-31 1996-12-31 1995-12-31
EBITDA 12,863.00M 11,668.00M 11,708.00M 11,819.00M 12,145.00M 11,804.00M 11,130.00M 10,711.00M 9,725.00M 9,834.00M 9,114.00M 8,631.00M 7,829.00M 8,329.00M 7,487.00M 6,549.00M 6,729.00M 6,282.00M 5,149.00M 4,833.00M 4,928.00M 13,899.00M 18,052.00M 17,629.00M 18,427.00M 19,646.00M 16,840.00M 16,894.00M 16,738.00M 16,520.00M 15,151.00M 13,868.00M
(-) Tax Adjustment 2,154.10M 2,854.44M 2,052.20M 3,026.13M 2,670.95M 4,131.40M 3,895.50M 3,748.85M 2,471.59M 0.00M 3,173.13M 3,020.85M 2,723.13M 2,887.91M 2,620.45M 2,292.15M 2,135.22M 2,149.82M 1,802.15M 1,598.26M 1,628.84M 4,186.03M 5,852.33M 6,150.66M 6,449.45M 6,876.10M 5,894.00M 5,912.90M 5,858.30M 5,782.00M 5,302.85M 4,853.80M
(-) Change In Working Capital 2,472.00M 8.00M 151.00M -47.00M -586.00M 3.00M 249.00M -53.00M 1,075.00M -1,854.00M -270.00M 258.00M -194.00M -558.00M 1,194.00M 59.00M -309.00M 21.00M -284.00M -258.00M -132.00M -193.00M -32.00M 116.00M -846.00M -1,057.00M 512.00M 1,922.00M 125.00M 112.00M -672.00M -674.00M
(-) Capital Expenditure -181.00M -148.00M -142.00M -196.00M -205.00M -169.00M -231.00M -246.00M -238.00M -199.00M -189.00M -229.00M -163.00M -131.00M -124.00M -105.00M -168.00M -273.00M -241.00M -1,458.00M -2,454.00M -2,206.00M -1,913.00M -1,974.00M -2,009.00M -1,922.00M -1,682.00M -1,749.00M -1,821.00M -1,874.00M -2,398.00M -1,621.00M
Unlevered Free Cash Flow 8,055.90M 8,657.56M 9,362.80M 8,643.87M 9,855.05M 7,500.60M 6,754.50M 6,769.15M 5,940.41M 11,489.00M 6,021.87M 5,123.15M 5,136.87M 5,868.09M 3,548.55M 4,092.85M 4,734.78M 3,838.18M 3,389.85M 2,034.74M 977.16M 7,699.97M 10,318.67M 9,388.34M 10,814.55M 11,904.90M 8,752.00M 7,310.10M 8,933.70M 8,752.00M 8,122.15M 8,067.20M
(-) Net Interest Income After Taxes -890.81M -765.18M -855.23M -735.78M -825.32M -755.30M -785.85M -832.00M -495.99M -705.00M -486.92M -531.05M -526.96M -685.28M -731.90M -790.40M -773.48M -779.47M -108.55M -137.21M -150.63M 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 -610.00M -123.00M -1,121.00M -568.00M -1,105.00M -1,070.00M 993.00M 2,321.00M 11,936.00M 0.00M 1,043.00M -1,793.00M 174.00M 620.00M 187.00M 1,494.00M 232.00M 2,964.00M 2,588.00M 2,051.00M -6,464.00M 1,404.00M -2,040.00M 640.00M 2,756.00M -6,772.00M 10,936.00M 231.00M 25.00M -962.00M -534.00M -831.00M
Levered Free Cash Flow 8,336.72M 9,299.74M 9,097.03M 8,811.65M 9,575.38M 7,185.90M 8,533.35M 9,922.15M 18,372.40M 12,194.00M 7,551.79M 3,861.20M 5,837.83M 7,173.37M 4,467.45M 6,377.25M 5,740.26M 7,581.65M 6,086.40M 4,222.95M -5,336.21M 9,103.97M 8,278.67M 10,028.34M 13,570.55M 5,132.90M 19,688.00M 7,541.10M 8,958.70M 7,790.00M 7,588.15M 7,236.20M