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Definitive Analysis

Financial Statements

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Ticker

Industry

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Page: Company Financials

Porto Seguro S.A.

Ticker: PSSA3.SA | Industry: Insurance - Diversified | Sector: Financial Services
$48.32 -0.26 (-0.54%)
As of: 2026-01-23

Master Data Export


Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009
Stock Price 48.35 32.98 24.85 18.38 20.18 19.29 21.82 18.00 12.57 8.83 10.42 8.95 7.32 5.20 5.51 5.08 3.68
Market Capitalization 31,345.75M 21,200.76M 16,033.40M 11,794.62M 12,995.54M 12,448.02M 14,100.97M 11,636.64M 8,121.56M 5,708.73M 6,734.19M 5,782.92M 4,734.63M 3,364.23M 3,602.68M 3,331.82M 1,916.87M
(-) Cash & Equivalents 1,861.03M 362.20M 414.95M 390.43M 345.68M 234.48M 464.42M 316.24M 116.61M 104.75M 111.90M 582.73M 944.20M 596.05M 418.36M 34.05M 9.51M
(+) Total Debt 595.68M 388.72M 965.50M 785.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 75.90M 142.63M 54.76M
Enterprise Value 30,080.40M 21,227.28M 16,583.96M 12,189.29M 12,649.86M 12,213.54M 13,636.55M 11,320.40M 8,004.94M 5,603.98M 6,622.29M 5,200.19M 3,790.43M 2,768.17M 3,260.22M 3,440.40M 1,962.11M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Revenue 36,579M 33,529M 32,686M 33,835M 24,439M 22,251M 19,781M 19,207M 17,847M 18,730M 17,331M 16,412M 15,105M 13,013M 11,716M 10,069M 9,905M 7,237M 4,905M 4,538M 5,086M 3,438M 2,935M
Cost of Revenue 692M 486M 0M 284M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
Gross Profit 35,887M 33,043M 32,686M 33,551M 24,439M 22,251M 19,781M 19,207M 17,847M 18,730M 17,331M 16,412M 15,105M 13,013M 11,716M 10,069M 9,905M 7,237M 4,905M 4,538M 5,086M 3,438M 2,935M
Gross Profit Margin 98.1% 98.6% 100.0% 99.2% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
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
SG&A Expenses 2,542M 2,029M 2,282M 2,022M 1,646M 1,407M 1,285M 1,252M 2,779M 2,749M 1,174M 1,204M 1,223M 1,029M 931M 901M 1,581M 1,141M 1,920M 853M 680M 1,214M 1,030M
Operating Expenses 31,210M 29,079M 28,742M 29,951M 23,116M 20,535M 17,176M 17,180M 15,681M 17,197M 15,993M 15,000M 13,772M 10,786M 10,761M 9,273M 8,999M 6,821M 4,438M 3,835M 4,309M 3,052M 2,708M
Operating Income (EBIT) 4,677M 3,964M 3,945M 3,600M 1,323M 1,716M 2,605M 2,027M 2,166M 1,533M 1,338M 1,412M 1,333M 2,226M 955M 796M 906M 416M 467M 704M 777M 385M 227M
Operating Income Margin 12.8% 11.8% 12.1% 10.6% 5.4% 7.7% 13.2% 10.6% 12.1% 8.2% 7.7% 8.6% 8.8% 17.1% 8.2% 7.9% 9.1% 5.8% 9.5% 15.5% 15.3% 11.2% 7.7%
Interest Income 206M 163M 217M 284M 269M 492M 452M 308M 1,500M 0M 385M 402M 250M 17M 2M 0M 0M 0M 624M 0M 0M 1,026M 335M
Interest Expense 58M 77M 88M 317M 334M 93M 123M 17M 574M 662M 44M 27M 18M 21M 7M 290M 285M 189M 165M 0M 0M 0M 0M
Net Interest Income 149M 87M 129M -33M -65M 398M 329M 291M 926M -662M 342M 375M 233M -4M -5M -290M -285M -189M 459M 0M 0M 1,026M 335M
Unusual Items -149M -87M -129M -24M 65M -398M -329M -291M -926M 662M -342M -375M -233M 4M 5M 290M 285M 189M -459M 0M 0M -1,026M -335M
EBT Excluding Unusual Items 4,826M 4,051M 4,074M 3,567M 1,258M 2,114M 2,934M 2,318M 3,092M 870M 1,680M 1,787M 1,565M 2,223M 950M 507M 621M 227M 926M 704M 777M 1,412M 562M
Pre-Tax Income 4,677M 3,964M 3,945M 3,543M 1,323M 1,716M 2,605M 2,027M 2,166M 1,533M 1,338M 1,412M 1,333M 2,226M 955M 796M 906M 416M 467M 704M 777M 385M 227M
Pre-Tax Margin 12.8% 11.8% 12.1% 10.5% 5.4% 7.7% 13.2% 10.6% 12.1% 8.2% 7.7% 8.6% 8.8% 17.1% 8.2% 7.9% 9.1% 5.8% 9.5% 15.5% 15.3% 11.2% 7.7%
Income Tax Expense 1,416M 1,301M 1,254M 1,228M 165M 171M 917M 648M 857M 434M 427M 414M 456M 829M 275M 216M 282M 98M 112M 248M 380M 88M 49M
Net Income 3,213M 2,623M 2,645M 2,266M 1,140M 1,544M 1,688M 1,379M 1,311M 1,101M 916M 1,002M 876M 1,405M 683M 580M 623M 318M 290M 420M 460M 249M 150M
Net Income Margin 8.8% 7.8% 8.1% 6.7% 4.7% 6.9% 8.5% 7.2% 7.3% 5.9% 5.3% 6.1% 5.8% 10.8% 5.8% 5.8% 6.3% 4.4% 5.9% 9.3% 9.0% 7.2% 5.1%
Depreciation & Amortization 418M 406M 413M 381M 284M 230M 228M 237M 253M 226M 207M 196M 160M 131M 122M 150M 157M 105M 75M 38M 29M 28M 27M
EBITDA 5,095M 4,370M 4,358M 3,981M 1,607M 1,946M 2,833M 2,264M 2,419M 1,759M 1,545M 1,608M 1,493M 2,358M 1,077M 946M 1,063M 521M 542M 741M 806M 414M 254M
EBITDA Margin 13.9% 13.0% 13.3% 11.8% 6.6% 8.7% 14.3% 11.8% 13.6% 9.4% 8.9% 9.8% 9.9% 18.1% 9.2% 9.4% 10.7% 7.2% 11.0% 16.3% 15.8% 12.0% 8.7%
NOPAT 3,261M 2,663M 2,691M 2,352M 1,157M 1,544M 1,688M 1,379M 1,309M 1,098M 911M 998M 876M 1,397M 680M 580M 623M 318M 355M 455M 397M 298M 178M
NOPAT Margin 8.9% 7.9% 8.2% 7.0% 4.7% 6.9% 8.5% 7.2% 7.3% 5.9% 5.3% 6.1% 5.8% 10.7% 5.8% 5.8% 6.3% 4.4% 7.2% 10.0% 7.8% 8.7% 6.1%
Owner's Earnings 3,259M 2,742M 2,774M 1,946M -840M 647M 1,276M 1,153M 1,171M 793M 667M 712M 636M 1,161M 432M 359M 407M 298M 123M 329M 445M 252M 151M
Owner's Earnings Margin 8.9% 8.2% 8.5% 5.8% -3.4% 2.9% 6.5% 6.0% 6.6% 4.2% 3.8% 4.3% 4.2% 8.9% 3.7% 3.6% 4.1% 4.1% 2.5% 7.2% 8.8% 7.3% 5.1%
EPS (Basic) 4.96 4.08 4.08 3.50 1.77 2.40 2.62 2.13 2.03 1.70 1.41 1.54 1.36 2.16 1.05 0.89 0.95 0.63 0.63 0.91 1.00 0.54 0.32
EPS (Diluted) 4.96 4.07 4.08 3.50 1.77 2.40 2.62 2.13 2.03 1.70 1.42 1.54 1.36 2.16 1.05 0.89 0.95 0.63 0.63 0.91 1.00 0.54 0.32
Shares (Basic) 648M 641M 649M 647M 644M 644M 644M 646M 647M 647M 647M 647M 646M 647M 652M 653M 655M 508M 461M 461M 461M 461M 461M
Shares (Diluted) 648M 644M 649M 647M 644M 644M 644M 646M 647M 648M 647M 649M 646M 650M 652M 653M 655M 508M 461M 461M 461M 461M 461M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Cash & Cash Equivalents 1,486.32M 2,063.27M 503.89M 719.05M 450.69M 438.89M 339.58M 171.94M 769.47M 1,266.58M 133.81M 1,154.90M 139.15M 1,336.50M 683.30M 1,524.26M 39.44M 38.04M 0.00M 0.00M 13.58M 7.96M 9.73M
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 6,135.57M 0.00M 0.00M 3,699.57M 0.00M 0.00M
Cash & Short-Term Investments 1,486.32M 2,063.27M 503.89M 719.05M 450.69M 438.89M 339.58M 171.94M 769.47M 1,266.58M 133.81M 1,154.90M 139.15M 1,336.50M 683.30M 1,524.26M 39.44M 6,173.61M 0.00M 0.00M 3,713.15M 7.96M 9.73M
Net Receivables 1,063.19M 992.52M 978.66M 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 0.00M 0.00M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 Assets -3,115.74M -3,661.71M -978.66M 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 0.00M 0.00M
Total Current Assets -566.23M -605.92M 503.89M 719.05M 450.69M 438.89M 339.58M 171.94M 769.47M 1,266.58M 133.81M 1,154.90M 139.15M 1,336.50M 683.30M 1,524.26M 39.44M 6,173.61M 0.00M 0.00M 3,713.15M 7.96M 9.73M
Property, Plant & Equipment 997.55M 1,018.79M 851.06M 1,526.49M 2,253.73M 2,179.66M 1,692.87M 1,615.21M 1,533.15M 1,636.47M 1,348.14M 1,478.79M 1,278.05M 1,125.36M 1,064.76M 886.38M 661.99M 621.73M 628.36M 482.24M 387.76M 217.61M 220.31M
Goodwill 1,204.53M 1,204.72M 1,203.93M 1,200.15M 1,009.08M 370.78M 375.12M 375.12M 0.00M 0.00M 375.12M 0.00M 370.78M 370.48M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 2,644.17M 2,623.74M 4,323.03M 3,768.67M 3,291.10M 4,470.24M 3,840.62M 3,592.53M 3,681.83M 3,534.41M 2,877.50M 2,844.92M 2,334.98M 2,153.70M 2,191.53M 1,273.91M 1,294.37M 48.50M 29.45M 1.13M 0.00M 0.00M 0.00M
Long-Term Investments 21,816.08M 20,160.68M 18,848.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 6,732.78M 7,638.93M 334.44M 0.00M 53.72M 3,715.97M 167.23M 131.00M
Tax Assets 2,045.21M 1,794.54M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 651.25M 543.39M 455.44M 323.03M 0.00M 10.12M 0.00M 0.00M
Other Non-Current Assets -28,707.54M 24,142.54M 22,183.78M 37,025.23M 32,909.79M 35,413.33M 30,482.02M 26,956.50M 24,576.50M 22,540.66M 20,622.13M 17,710.88M 17,297.76M 15,423.28M -3,256.28M -9,544.31M -10,138.69M -1,460.11M -980.83M -537.09M -4,113.85M -384.83M -351.31M
Other Assets 53,349.03M 50,945.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,556.64M 5,726.25M 4,619.57M 3,888.79M 7,750.37M 6,594.96M -2,138.12M 4,189.40M 531.45M
Total Non-Current Assets 53,349.03M 101,890.03M 47,409.84M 43,520.55M 39,463.70M 42,434.01M 36,390.63M 32,539.36M 29,791.49M 27,711.55M 25,222.89M 22,034.59M 21,281.57M 19,072.81M 1,556.64M 5,726.25M 4,619.57M 3,888.79M 7,750.37M 6,594.96M -2,138.12M 4,189.40M 531.45M
Total Assets 52,782.80M 101,284.11M 47,913.74M 44,239.60M 39,914.39M 42,872.90M 36,730.20M 32,711.30M 30,560.96M 28,978.13M 25,356.71M 23,189.49M 21,420.72M 20,409.32M 2,239.94M 7,250.51M 4,659.02M 10,062.40M 7,750.37M 6,594.96M 1,575.03M 4,197.37M 541.18M
Accounts Payable 1,312.21M 1,033.29M 956.97M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 570.58M 153.03M 9.20M 250.14M 128.91M 135.22M 74.23M 57.99M
Short-Term Debt 0.00M 20.15M 20.20M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 219.02M 107.85M 0.00M 0.00M 0.00M 0.00M
Tax Payables 807.47M 620.15M 545.34M 367.01M 729.50M 660.56M 536.80M 543.89M 456.49M 419.67M 408.03M 397.62M 360.27M 288.40M 275.44M 550.24M 213.37M 170.25M 108.01M 0.00M 87.12M 58.48M 59.05M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities -3,615.85M -2,850.63M -2,289.34M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -811.96M 0.00M -816.06M -675.23M -398.48M -466.00M -278.08M -273.92M -193.62M -166.55M
Total Current Liabilities -1,496.18M -1,177.04M -766.84M 367.01M 729.50M 660.56M 536.80M 543.89M 456.49M 419.67M 408.03M 397.62M 360.27M -523.56M 275.44M 304.76M -308.84M 0.00M 0.00M -149.17M -51.58M -60.91M -49.52M
Long-Term Debt 570.12M 549.14M 163.47M 859.58M 1,329.40M 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 50.61M 42.37M 0.00M 0.00M 0.00M
Capital Lease Obligations 137.45M 139.96M 139.37M 159.61M 175.72M 131.71M 135.57M 144.10M 0.00M 0.00M 0.00M 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 662.99M 592.35M 534.42M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 422.60M 446.34M 41.77M 42.17M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities -1,736.78M -1,638.04M 33,216.69M 30,527.28M 27,745.00M 32,411.60M 26,823.23M 23,666.01M 22,917.24M 21,262.03M 17,751.32M 16,753.65M 14,882.02M 14,515.81M 0.00M -422.60M -446.34M -65.60M -92.77M -42.37M -23.83M -23.74M 0.00M
Total Non-Current Liabilities -366.23M -356.59M 34,053.95M 31,546.47M 29,250.12M 32,543.31M 26,958.79M 23,810.10M 22,917.24M 21,262.03M 17,751.32M 16,753.65M 14,882.02M 14,515.81M 0.00M 0.00M 0.00M -23.83M 0.00M 0.00M -23.83M -23.74M 0.00M
Total Liabilities -1,862.40M -1,533.62M 33,287.11M 31,913.47M 29,979.62M 33,203.87M 27,495.59M 24,354.00M 23,373.73M 21,681.70M 18,159.35M 17,151.27M 15,242.29M 13,992.25M 275.44M 304.76M -308.84M -23.83M 0.00M -149.17M -75.41M -84.65M -49.52M
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 0.00M 0.00M 0.00M 0.00M
Common Stock 8,500.00M 8,500.00M 8,500.00M 8,500.00M 8,500.00M 8,500.00M 4,500.00M 4,000.00M 4,000.00M 3,500.00M 3,170.00M 2,782.00M 2,782.00M 2,782.00M 2,782.00M 1,870.00M 1,870.00M 1,870.00M 920.00M 0.00M 516.77M 516.77M 516.77M
Retained Earnings 1,610.55M 1,121.50M 4,956.44M 3,332.20M 1,781.81M 1,260.62M 4,568.92M 4,154.95M 3,552.39M 4,137.27M 3,812.17M 3,624.33M 3,167.22M 3,046.42M 2,248.31M 138.04M 87.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accumulated OCI 0.00M 5,028.39M 749.96M 706.26M 437.66M -190.57M 94.75M 134.48M 90.86M 73.11M 16.90M -19.50M 1.39M 13.34M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest 65.68M 54.58M 94.60M 82.54M 57.95M 0.17M 0.14M 0.14M 0.48M 1.74M 1.73M 1.60M 1.43M 4.35M 6.96M 3.36M 0.96M 0.73M 0.58M 0.48M 0.39M 0.35M 0.28M
Total Shareholders’ Equity 10,110.55M 14,649.89M 14,206.40M 12,538.45M 10,719.48M 9,570.05M 9,163.68M 8,289.43M 7,643.24M 7,710.38M 6,999.07M 6,386.83M 5,950.61M 5,841.75M 5,030.31M 2,008.04M 1,957.10M 1,870.00M 920.00M 0.00M 516.77M 516.77M 516.77M
Total Equity 10,176.23M 14,704.46M 14,301.01M 12,620.99M 10,777.43M 9,570.22M 9,163.81M 8,289.57M 7,643.72M 7,712.12M 7,000.80M 6,388.43M 5,952.04M 5,846.10M 5,037.27M 2,011.40M 1,958.06M 1,870.73M 920.58M 0.48M 517.16M 517.12M 517.05M
Total Liabilities & Equity 8,313.82M 13,170.84M 47,588.11M 44,534.46M 40,757.04M 42,774.09M 36,659.40M 32,643.57M 31,017.45M 29,393.81M 25,160.15M 23,539.70M 21,194.32M 19,838.34M 5,312.71M 2,316.16M 1,649.22M 1,846.90M 920.58M -148.70M 441.75M 432.47M 467.53M
Tangible Assets 48,934.11M 97,455.65M 42,386.78M 39,270.77M 35,614.21M 38,031.87M 32,514.46M 28,743.65M 26,879.13M 25,443.71M 22,104.08M 20,344.57M 18,714.96M 17,885.14M 48.41M 5,976.60M 3,364.64M 10,013.90M 7,720.92M 6,593.83M 1,575.03M 4,197.37M 541.18M
Tangible Equity 6,327.53M 10,876.01M 8,774.05M 7,652.16M 6,477.25M 4,729.20M 4,948.07M 4,321.92M 3,961.89M 4,177.70M 3,748.17M 3,543.51M 3,246.28M 3,321.92M 2,845.74M 737.49M 663.69M 1,822.24M 891.13M -0.66M 517.16M 517.12M 517.05M
Tangible Book Value 6,327.53M 10,876.01M 8,774.05M 7,652.16M 6,477.25M 4,729.20M 4,948.07M 4,321.92M 3,961.89M 4,177.70M 3,748.17M 3,543.51M 3,246.28M 3,321.92M 2,845.74M 737.49M 663.69M 1,822.24M 891.13M -0.66M 517.16M 517.12M 517.05M
Total Investments 21,816.08M 20,160.68M 18,848.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 6,732.78M 7,638.93M 6,470.01M 0.00M 53.72M 7,415.54M 167.23M 131.00M
Net Debt -916.21M -1,493.98M -320.22M 140.53M 878.71M -438.89M -339.58M -171.94M -769.47M -1,266.58M -133.81M -1,154.90M -139.15M -1,336.50M -683.30M -1,524.26M -39.44M 180.98M 158.46M 42.37M -13.58M -7.96M -9.73M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Working Capital 0.0M 0.0M 115.7M 364.1M 189.1M -657.7M -563.7M -603.6M 769.5M 1,266.6M -470.8M 1,154.9M -400.1M 1,336.5M 683.3M 1,382.2M 39.4M 5,170.1M -450.6M -127.0M 3,590.3M -14.6M 3.5M
Total Capital 15,622.5M 15,171.3M 14,214.3M 13,274.8M 11,849.9M 9,364.6M 9,003.6M 8,269.6M 7,643.2M 7,714.4M 6,999.1M 6,434.2M 5,998.0M 5,889.2M 5,067.1M 4,700.0M 4,441.7M 3,345.4M 2,047.8M 1,857.0M 1,529.6M 1,095.4M 892.2M
Capital Employed 53,349.0M 50,945.0M 47,525.6M 43,884.7M 39,652.8M 41,776.3M 35,827.0M 31,935.8M 30,561.0M 28,978.1M 24,752.1M 23,189.5M 20,881.5M 20,409.3M 18,872.0M 16,652.8M 14,797.7M 10,519.0M 7,299.2M 6,467.5M 5,566.1M 4,559.6M 886.3M
Invested Capital 14,136.2M 13,108.0M 13,710.4M 12,555.8M 11,399.2M 8,925.7M 8,664.0M 8,097.7M 6,873.8M 6,447.8M 6,865.3M 5,279.3M 5,858.9M 4,552.7M 4,383.8M 3,175.7M 4,402.3M 3,307.3M 2,047.8M 1,857.0M 1,516.0M 1,087.4M 882.5M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
Net Income 3,261.23M 2,640.31M 2,690.78M 2,266.15M 1,152.29M 1,544.26M 1,688.22M 1,379.11M 1,309.38M 1,098.24M 911.35M 998.34M 876.19M 1,397.31M 680.00M 580.17M 623.36M 328.58M 290.18M 419.86M 460.16M 248.66M 149.75M
Depreciation & Amortization 417.86M 334.39M 413.07M 381.46M 284.25M 230.31M 227.89M 237.36M 252.90M 226.40M 207.48M 196.17M 160.14M 131.15M 122.47M 150.20M 156.22M 100.03M 74.26M 37.91M 29.43M 28.33M 27.29M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -641.18M -3,293.13M 734.49M -1,416.41M -1,417.87M 1,396.69M 209.82M 50.61M 64.78M 248.98M -100.10M 610.05M 468.69M 332.39M -619.52M -47.03M -19.59M -1,042.32M 37.87M -42.37M -355.03M -32.11M -208.35M
Accounts Receivable -63.53M 977.33M 14.52M 22.28M -1,847.25M -1,085.66M -762.27M -368.68M -31.77M -269.32M -7.51M -164.71M -418.56M -358.48M -257.73M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -577.65M -4,908.72M 719.97M -1,438.69M 429.38M 2,482.35M 972.09M 419.29M -521.14M 1,653.26M 1,452.88M 829.32M -756.82M -1,672.73M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Cash Items -1,020.60M -2,226.26M -1,423.25M -1,161.43M 2,831.92M -699.74M -687.17M -433.63M -595.33M -259.21M -498.26M -762.87M -605.11M -419.51M -365.12M 20.41M -268.20M -109.01M 0.18M -126.75M -1.05M -158.47M 117.13M
Net Cash from Operating Activities 2,017.30M -2,847.54M 2,415.09M 69.77M 2,850.59M 2,471.52M 1,438.76M 1,233.45M 1,031.73M 1,314.40M 520.46M 1,041.70M 899.90M 1,441.35M -182.18M 703.75M 491.79M -722.71M 402.49M 288.66M 133.51M 86.40M 85.81M
Capital Expenditures (PPE) -268.89M -325.33M -386.58M -128.82M -2,264.49M -1,127.31M -639.96M -463.27M -392.42M -533.83M -455.96M -485.49M -399.54M -375.11M -373.54M -370.79M -372.65M -124.97M -242.33M -128.93M -44.12M -25.31M -26.05M
Acquisitions (Net) 198.76M 599.16M 619.42M 0.00M 738.30M 198.09M 191.40M 147.24M 224.31M 106.35M 13.19M 28.77M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -1,471.52M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.25M -0.02M
Sales / Maturities of Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,426.10M 0.00M 0.00M 0.00M 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 -239.11M 293.12M 0.00M 201.01M -676.81M -152.43M -78.83M 45.42M 224.31M 46.31M 13.19M 28.77M 9.92M 10.95M 15.93M 0.00M 9.13M 12.88M 13.77M -11.51M 3.89M 4.09M 5.28M
Net Cash from Investing Activities -309.24M 285.87M 232.84M 72.19M -1,526.19M -929.22M -448.56M -316.03M -168.11M -487.51M -442.77M -456.72M -389.61M -364.16M -357.61M -370.79M -363.52M -112.09M -228.56M -140.44M -40.23M -21.47M -20.79M
Net Debt Issuance -1,966.37M -24.10M -2,186.53M -3,455.52M -2,231.88M -1,801.96M 0.00M 0.00M 0.00M 0.00M 0.00M 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 Debt Issuance -1,966.37M -2,384.69M -2,186.53M -3,455.52M -2,231.88M -1,801.96M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Short-Term Debt Issuance 0.00M 759.20M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 1,864.13M 1,024.50M 1,463.12M 2,342.15M 2,570.04M -45.43M -141.20M -19.79M 0.00M 3.98M 0.00M 0.00M 0.00M 0.00M -24.25M -59.78M 0.00M 0.00M -23.46M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 2,074.99M 2,569.83M 1,663.94M 2,342.15M 2,570.04M 2,253.29M 0.00M 0.00M 0.00M 3.98M 0.00M 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 Repurchased -210.86M -152.18M -200.82M 0.00M 0.00M -45.43M -141.20M -19.79M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -24.25M -59.78M 0.00M 0.00M -23.46M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M -2,253.29M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -871.12M -631.82M -838.42M -357.09M -629.48M -844.07M -689.52M -655.31M -1,240.35M -326.44M -45.76M -205.69M -638.04M -165.14M -276.92M 0.00M 0.00M 0.00M -143.76M 0.00M -87.66M -66.69M -63.38M
Common Dividends Paid -871.12M -631.82M -838.42M -357.09M -629.48M -844.07M -689.52M -655.31M -1,240.35M -326.44M -45.76M -205.69M -638.04M -119.19M -57.96M -236.13M 0.00M -103.74M -143.76M -153.99M -87.66M -66.69M -63.38M
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 -45.95M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities 0.00M -967.44M 0.00M 0.00M 0.00M 2,253.29M -136.87M -118.53M -120.37M -119.93M -304.76M -228.25M -204.89M -249.61M -218.96M 0.00M -110.10M 950.00M 0.00M -141.94M -66.13M 0.00M 0.00M
Net Cash from Financing Activities -973.35M 198.92M -1,561.84M -1,470.46M -291.33M -1,057.35M -967.58M -793.63M -1,360.71M -442.38M -350.53M -433.94M -842.93M -368.80M -301.17M -295.92M -125.44M 846.26M -167.22M -141.94M -87.66M -66.69M -63.38M
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 -55.19M 0.00M 0.00M -1.43M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 734.71M -1,764.13M 1,086.09M -1,328.51M 1,033.07M 484.95M 22.62M 123.79M -497.10M 384.51M -272.84M 151.04M -332.64M 653.20M -840.96M 37.05M 1.40M 11.46M 6.72M 6.28M 5.62M -1.76M 1.65M
Cash at Beginning of Period 7,039.87M 6,303.70M 1,105.40M 2,433.91M 1,400.83M 915.88M 893.26M 769.47M 1,266.58M 882.07M 1,154.90M 1,003.86M 1,336.50M 683.30M 1,524.26M 1,487.22M 38.04M 26.58M 19.86M 13.58M 7.96M 9.73M 8.08M
Cash at End of Period 7,774.58M 4,539.57M 2,191.49M 1,105.40M 2,433.91M 1,400.83M 915.88M 893.26M 769.47M 1,266.58M 882.07M 1,154.90M 1,003.86M 1,336.50M 683.30M 1,524.26M 39.44M 38.04M 26.58M 19.86M 13.58M 7.96M 9.73M
Operating Cash Flow 2,017.30M -2,847.54M 2,415.09M 69.77M 2,850.59M 2,471.52M 1,438.76M 1,233.45M 1,031.73M 1,314.40M 520.46M 1,041.70M 899.90M 1,441.35M -182.18M 703.75M 491.79M -722.71M 402.49M 288.66M 133.51M 86.40M 85.81M
Capital Expenditure -372.14M -286.49M -283.46M -701.24M -2,264.49M -1,127.31M -639.96M -463.27M -392.42M -533.83M -455.96M -485.49M -399.54M -375.11M -373.54M -370.79M -372.65M -124.97M -242.33M -128.93M -44.12M -25.31M -26.05M
Free Cash Flow 1,645.16M -3,189.46M 2,131.63M -502.65M 586.10M 1,344.21M 798.80M 770.18M 639.31M 780.58M 64.50M 556.21M 500.37M 1,066.25M -555.71M 332.96M 119.14M -847.68M 160.17M 159.72M 89.39M 61.10M 59.77M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31 2017-12-31 2016-12-31 2015-12-31 2014-12-31 2013-12-31 2012-12-31 2011-12-31 2010-12-31 2009-12-31 2008-12-31 2007-12-31 2006-12-31 2005-12-31 2004-12-31
EBITDA 33,762.90M 31,419.95M 30,817.30M 31,910.18M 23,077.19M 21,074.59M 18,723.86M 18,193.00M 15,321.79M 16,206.89M 16,364.63M 15,404.48M 14,041.90M 12,114.94M 10,907.63M 9,318.10M 8,479.99M 6,201.01M 3,060.26M 3,723.58M 4,435.44M 2,251.84M 1,931.86M
(-) Tax Adjustment 10,219.42M 10,314.37M 9,795.31M 11,061.51M 2,883.34M 2,106.39M 6,553.35M 5,815.38M 5,362.62M 4,593.93M 5,218.36M 4,513.89M 4,808.99M 4,240.23M 3,140.31M 2,528.48M 2,644.47M 1,461.48M 732.64M 1,303.25M 1,552.41M 511.24M 415.30M
(-) Change In Working Capital -641.18M -3,293.13M 734.49M -1,416.41M -1,417.87M 1,396.69M 209.82M 50.61M 64.78M 248.98M -100.10M 610.05M 468.69M 332.39M -619.52M -47.03M -19.59M -1,042.32M 37.87M -42.37M -355.03M -32.11M -208.35M
(-) Capital Expenditure -372.14M -286.49M -283.46M -701.24M -2,264.49M -1,127.31M -639.96M -463.27M -392.42M -533.83M -455.96M -485.49M -399.54M -375.11M -373.54M -370.79M -372.65M -124.97M -242.33M -128.93M -44.12M -25.31M -26.05M
Unlevered Free Cash Flow 23,812.52M 24,112.22M 20,004.04M 21,563.85M 19,347.23M 16,444.20M 11,320.73M 11,863.74M 9,501.96M 10,830.16M 10,790.42M 9,795.05M 8,364.69M 7,167.21M 8,013.30M 6,465.87M 5,482.46M 5,656.87M 2,047.42M 2,333.76M 3,193.95M 1,747.40M 1,698.86M
(-) Net Interest Income After Taxes 103.72M 58.31M 88.13M -21.49M -56.60M 358.55M 213.76M 197.76M 601.85M -474.49M 232.90M 264.83M 152.95M -2.51M -3.51M -211.01M -196.11M -144.78M 349.11M 0.00M 0.00M 793.16M 263.19M
Net Debt Issuance -1,966.37M -24.10M -2,186.53M -3,455.52M -2,231.88M -1,801.96M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Levered Free Cash Flow 21,742.43M 24,029.81M 17,729.38M 18,129.81M 17,171.95M 14,283.69M 11,106.96M 11,665.98M 8,900.11M 11,304.65M 10,557.51M 9,530.22M 8,211.74M 7,169.72M 8,016.81M 6,676.87M 5,678.57M 5,801.66M 1,698.31M 2,333.76M 3,193.95M 954.24M 1,435.68M