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Definitive Analysis

Financial Statements

Periods / Units / Analysis

Ticker

Industry

Sector

Page: Company Financials

TIM S.A.

Ticker: TIMS3.SA | Industry: Telecommunications Services | Sector: Communication Services
$24.60 -0.29 (-1.17%)
As of: 2026-01-27

Master Data Export


Enterprise Value

Metric 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
Stock Price 21.18 16.77 14.96 12.65 12.28 13.59 12.71 12.76 11.16 7.62 8.81 12.33 9.92 9.68 8.84 7.09 6.31 6.29 10.31 9.68 4.80 3.78 3.78 3.78 3.78 3.78 3.78
Market Capitalization 51,229.42M 41,023.06M 36,033.91M 31,471.84M 29,653.38M 32,555.15M 30,723.15M 30,788.10M 26,770.03M 18,434.16M 21,310.22M 29,803.18M 23,963.05M 23,401.25M 21,162.62M 17,450.70M 15,105.16M 14,717.14M 24,013.38M 22,464.32M 6,201.93M 2,008.37M 1,334.73M 1,285.56M 1,272.02M 1,264.03M 1,249.51M
(-) Cash & Equivalents 3,169.51M 2,410.48M 2,431.22M 2,511.46M 3,940.48M 2,341.34M 1,185.74M 1,209.48M 3,439.39M 4,004.68M 4,725.29M 4,901.20M 3,483.07M 2,037.15M 2,067.48M 1,308.87M 431.46M 1,086.20M 544.85M 923.59M 583.92M 28.58M 8.97M 7.22M 109.25M 32.88M 29.47M
(+) Total Debt 16,126.21M 15,617.70M 17,377.25M 16,470.52M 12,107.25M 10,684.28M 8,142.21M 4,816.93M 7,730.28M 8,263.45M 8,375.91M 6,396.35M 4,790.70M 2,895.24M 3,385.60M 2,677.82M 2,538.40M 3,052.99M 2,699.39M 2,610.17M 125.80M 83.59M 254.38M 316.64M 333.37M 312.43M 134.32M
Enterprise Value 64,186.12M 54,230.29M 50,979.94M 45,430.91M 37,820.15M 40,898.10M 37,679.62M 34,395.54M 31,060.92M 22,692.93M 24,960.83M 31,298.33M 25,270.67M 24,259.35M 22,480.75M 18,819.65M 17,212.10M 16,683.93M 26,167.91M 24,150.90M 5,743.82M 2,063.38M 1,580.14M 1,594.97M 1,496.14M 1,543.58M 1,354.36M

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
Revenue 26,335M 25,092M 25,448M 23,834M 21,531M 18,058M 17,268M 17,377M 16,981M 16,234M 15,617M 17,139M 19,498M 19,921M 18,764M 17,086M 14,457M 13,106M 13,081M 12,441M 10,092M 2,918M 2,565M 1,084M 891M 791M 717M 708M 507M
Cost of Revenue 12,262M 12,329M 11,893M 11,496M 10,656M 8,599M 7,997M 7,434M 7,701M 7,740M 7,693M 8,307M 10,084M 10,822M 2,605M 8,561M 7,306M 5,231M 5,648M 6,731M 5,491M 1,378M 1,293M 406M 486M 406M 263M 358M 85M
Gross Profit 14,073M 12,763M 13,555M 12,337M 10,875M 9,459M 9,271M 9,943M 9,280M 8,494M 7,924M 8,832M 9,414M 9,099M 16,159M 8,525M 7,152M 7,875M 7,433M 5,709M 4,601M 1,541M 1,272M 678M 405M 385M 454M 351M 422M
Gross Profit Margin 53.4% 50.9% 53.3% 51.8% 50.5% 52.4% 53.7% 57.2% 54.6% 52.3% 50.7% 51.5% 48.3% 45.7% 86.1% 49.9% 49.5% 60.1% 56.8% 45.9% 45.6% 52.8% 49.6% 62.5% 45.4% 48.7% 63.3% 49.5% 83.2%
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
SG&A Expenses 6,456M 6,486M 5,260M 5,211M 5,721M 5,738M 5,365M 5,945M 5,889M 5,417M 5,519M 5,703M 5,951M 5,744M 10,476M 5,260M 4,972M 4,756M 3,787M 4,923M 4,196M 984M 830M 287M 269M 265M 235M 189M 109M
Operating Expenses 7,830M 7,246M 7,725M 7,502M 7,727M 5,692M 6,486M 5,474M 7,186M 6,598M 6,583M 6,839M 6,963M 6,699M 13,587M 6,457M 5,952M 7,398M 6,942M 5,442M 4,736M 1,060M 830M 368M 288M 267M 439M 309M 208M
Operating Income (EBIT) 6,243M 5,517M 5,830M 4,835M 3,148M 3,768M 2,786M 4,469M 2,094M 1,895M 1,341M 1,993M 2,452M 2,400M 2,572M 2,067M 1,200M 477M 491M 267M -135M 481M 442M 310M 117M 119M 15M 42M 214M
Operating Income Margin 23.7% 22.0% 22.9% 20.3% 14.6% 20.9% 16.1% 25.7% 12.3% 11.7% 8.6% 11.6% 12.6% 12.0% 13.7% 12.1% 8.3% 3.6% 3.8% 2.1% -1.3% 16.5% 17.2% 28.6% 13.1% 15.0% 2.0% 5.9% 42.2%
Interest Income 1,246M 702M 486M 537M 902M 1,092M 163M 162M 199M 430M 676M 782M 642M 401M 304M 254M 191M 137M 173M 104M 0M 159M 134M 112M 64M 0M 0M 0M 0M
Interest Expense 2,798M 2,387M 2,177M 2,109M 2,165M 1,745M 926M 991M 422M 587M 726M 796M 706M 498M 428M 320M 330M 341M 548M 32M 0M 84M 69M 174M 83M 81M 17M 37M 93M
Net Interest Income -1,552M -1,685M -1,691M -1,572M -1,263M -653M -763M -830M -223M -156M -50M -14M -64M -97M -124M -66M -139M -203M -375M 72M 0M 75M 65M -62M -19M -81M -17M -37M -93M
Unusual Items -464M -86M -516M -80M -164M -11M -15M 897M 9M -304M -278M 1,001M -195M -166M -295M -173M -106M -53M 0M -96M 3M -5M -63M -86M -12M 22M 12M 12M 44M
EBT Excluding Unusual Items 4,691M 3,833M 4,139M 3,264M 1,885M 3,115M 2,023M 3,640M 1,871M 1,739M 1,291M 1,979M 2,388M 2,302M 2,448M 2,002M 1,061M 274M 116M 339M -135M 556M 507M 248M 98M 37M -2M 5M 121M
Pre-Tax Income 4,227M 3,747M 3,622M 3,184M 1,721M 3,103M 2,008M 4,536M 1,880M 1,436M 1,013M 2,980M 2,193M 2,136M 2,153M 1,829M 955M 220M 116M 243M -133M 551M 444M 163M 85M 59M 9M 17M 165M
Pre-Tax Margin 16.0% 14.9% 14.2% 13.4% 8.0% 17.2% 11.6% 26.1% 11.1% 8.8% 6.5% 17.4% 11.2% 10.7% 11.5% 10.7% 6.6% 1.7% 0.9% 2.0% -1.3% 18.9% 17.3% 15.0% 9.6% 7.5% 1.3% 2.4% 32.6%
Income Tax Expense 198M 498M 469M 347M 50M 146M 164M 914M -665M 201M 263M 909M 646M 631M 705M 547M -1,257M 6M -64M 167M 168M 130M 108M 42M 19M -1M -6M -5M 45M
Net Income 4,029M 3,188M 3,154M 2,837M 1,671M 2,957M 1,828M 3,622M 2,545M 1,235M 750M 2,071M 1,546M 1,506M 1,449M 1,281M 2,212M 215M 180M 76M -301M 399M 266M 120M 66M 60M 15M 21M 120M
Net Income Margin 15.3% 12.7% 12.4% 11.9% 7.8% 16.4% 10.6% 20.8% 15.0% 7.6% 4.8% 12.1% 7.9% 7.6% 7.7% 7.5% 15.3% 1.6% 1.4% 0.6% -3.0% 13.7% 10.4% 11.1% 7.4% 7.6% 2.1% 3.0% 23.6%
Depreciation & Amortization 7,026M 7,051M 7,026M 7,117M 6,827M 5,692M 5,527M 5,129M 3,954M 4,014M 3,785M 3,362M 3,053M 2,768M 2,689M 2,570M 2,993M 2,583M 2,409M 2,323M 2,279M 532M 447M 211M 202M 175M 156M 120M 98M
EBITDA 13,269M 12,568M 12,856M 11,952M 9,975M 9,459M 8,313M 9,598M 6,048M 5,909M 5,127M 5,355M 5,504M 5,168M 5,261M 4,637M 4,194M 3,060M 2,899M 2,591M 2,144M 1,013M 889M 521M 319M 293M 171M 162M 312M
EBITDA Margin 50.4% 50.1% 50.5% 50.1% 46.3% 52.4% 48.1% 55.2% 35.6% 36.4% 32.8% 31.2% 28.2% 25.9% 28.0% 27.1% 29.0% 23.3% 22.2% 20.8% 21.2% 34.7% 34.7% 48.1% 35.8% 37.1% 23.8% 22.9% 61.6%
NOPAT 5,951M 4,784M 5,076M 4,309M 3,057M 3,590M 2,558M 3,569M 2,834M 1,630M 993M 1,385M 1,729M 1,691M 1,731M 1,449M 2,780M 465M 763M 84M -107M 367M 334M 230M 90M 120M 25M 53M 155M
NOPAT Margin 22.6% 19.1% 19.9% 18.1% 14.2% 19.9% 14.8% 20.5% 16.7% 10.0% 6.4% 8.1% 8.9% 8.5% 9.2% 8.5% 19.2% 3.5% 5.8% 0.7% -1.1% 12.6% 13.0% 21.2% 10.1% 15.2% 3.4% 7.5% 30.6%
Owner's Earnings 6,485M 5,771M 5,630M 5,450M 3,768M 683M 3,464M 4,898M 2,668M 1,100M 33M 669M -2,230M 716M 373M 849M 3,461M 844M -855M 600M -260M 595M 39M 331M 200M 87M -33M -175M 25M
Owner's Earnings Margin 24.6% 23.0% 22.1% 22.9% 17.5% 3.8% 20.1% 28.2% 15.7% 6.8% 0.2% 3.9% -11.4% 3.6% 2.0% 5.0% 23.9% 6.4% -6.5% 4.8% -2.6% 20.4% 1.5% 30.6% 22.4% 11.0% -4.6% -24.6% 5.0%
EPS (Basic) 1.66 1.30 1.30 1.17 0.69 1.22 0.76 1.50 1.05 0.51 0.31 0.86 0.64 0.62 0.60 0.56 0.90 0.40 0.23 0.03 -0.13 0.00 0.40 0.34 0.19 0.18 0.05 0.06 0.36
EPS (Diluted) 1.67 1.30 1.30 1.17 0.69 1.22 0.76 1.50 1.05 0.51 0.31 0.86 0.64 0.62 0.60 0.57 0.89 0.09 0.08 0.03 -0.13 0.45 0.38 0.34 0.19 0.18 0.05 0.06 0.36
Shares (Basic) 2,419M 2,444M 2,420M 2,421M 2,420M 2,420M 2,421M 2,420M 2,420M 2,420M 2,420M 2,420M 2,418M 2,417M 2,417M 2,264M 2,477M 2,348M 2,344M 2,330M 2,324M 880M 660M 356M 343M 337M 334M 334M 330M
Shares (Diluted) 2,419M 2,444M 2,420M 2,421M 2,420M 2,421M 2,421M 2,421M 2,421M 2,421M 2,420M 2,420M 2,419M 2,418M 2,417M 2,265M 2,477M 2,348M 2,344M 2,330M 2,324M 880M 703M 356M 343M 337M 334M 334M 330M

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
Cash & Cash Equivalents 3,673.54M 2,994.62M 3,258.74M 3,077.93M 2,548.71M 5,228.62M 2,575.29M 2,284.81M 1,075.53M 2,960.72M 5,128.19M 6,100.40M 5,232.99M 5,287.64M 4,429.78M 3,262.86M 2,376.23M 2,413.03M 1,531.54M 1,117.32M 591.13M 30.12M 89.87M 20.60M 11.15M 139.86M 97.00M 2.08M 152.35M
Short-Term Investments 2,855.09M 2,479.14M 2,434.44M 1,958.49M 2,190.64M 4,568.02M 2,070.44M 654.48M 784.84M 765.61M 479.95M 599.41M 0.00M 0.00M 0.81M 1.87M 18.18M 146.15M 23.05M 55.25M 599.46M 1,251.64M 766.46M 396.43M 421.69M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 6,528.63M 5,473.76M 5,693.18M 5,036.42M 4,739.35M 9,796.64M 4,645.73M 2,939.29M 1,860.37M 3,726.33M 5,608.14M 6,699.82M 5,232.99M 5,287.64M 4,430.59M 3,264.73M 2,394.41M 2,559.18M 1,554.59M 1,172.57M 1,190.59M 1,281.77M 856.33M 417.03M 432.84M 139.86M 97.00M 2.08M 152.35M
Net Receivables 6,102.74M 6,350.02M 5,807.16M 3,739.65M 3,451.74M 3,096.98M 3,057.19M 5,038.28M 2,861.30M 2,560.63M 2,922.00M 2,860.06M 3,538.94M 4,426.24M 4,982.90M 4,578.84M 3,615.17M 3,492.36M 3,499.63M 3,029.93M 2,798.38M 837.40M 687.09M 260.29M 165.80M 148.86M 138.28M 190.91M 79.38M
Inventory 353.45M 358.23M 293.53M 331.78M 236.12M 202.55M 246.60M 203.28M 183.06M 123.79M 143.93M 141.72M 264.03M 296.83M 269.15M 273.17M 228.65M 406.43M 548.51M 278.10M 163.71M 81.88M 47.20M 16.17M 15.57M 21.86M 12.36M 44.99M 0.00M
Other Current Assets 657.15M 704.56M 588.20M 2,057.97M 1,658.36M 2,026.73M 2,312.24M 130.51M 1,110.69M 1,264.37M 1,302.94M 2,128.60M 1,872.18M 1,436.95M 199.41M 68.80M 98.59M 283.87M 76.29M 567.00M 65.96M 106.07M 108.71M 52.97M 91.58M 65.62M 46.45M 54.07M 38.18M
Total Current Assets 13,641.96M 12,886.57M 12,382.08M 11,165.83M 10,085.56M 15,122.90M 10,261.76M 8,311.35M 6,015.42M 7,675.12M 9,977.01M 11,830.19M 10,908.15M 11,447.67M 9,882.05M 8,185.53M 6,336.83M 6,741.84M 5,679.03M 5,047.60M 4,218.65M 2,307.12M 1,699.33M 746.46M 705.79M 376.19M 294.09M 292.05M 269.91M
Property, Plant & Equipment 23,106.31M 23,246.18M 22,815.33M 22,411.82M 22,661.15M 18,308.40M 18,100.70M 17,612.16M 11,203.62M 10,838.49M 11,084.53M 10,667.35M 8,914.93M 8,207.24M 7,566.51M 6,624.08M 5,863.72M 5,323.17M 4,799.09M 7,021.24M 7,168.50M 1,804.64M 1,597.17M 674.15M 655.95M 775.56M 871.93M 998.45M 683.84M
Goodwill 3,112.17M 3,112.17M 3,112.17M 3,112.17M 3,112.17M 475.74M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,527.22M 1,660.24M 367.57M 367.57M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 11,404.43M 11,520.60M 11,742.79M 12,512.87M 13,304.38M 10,109.34M 7,499.86M 8,141.11M 9,154.79M 9,785.31M 9,105.36M 8,431.97M 7,795.42M 4,908.96M 4,461.97M 4,114.04M 4,168.28M 4,623.14M 4,817.31M 1,899.25M 2,156.71M 29.96M 40.58M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 1,809.59M 1,845.62M 1,934.20M 1,680.48M 1,553.05M 1,613.21M 7.06M 3.85M 5.23M 3.00M 0.00M 0.00M 41.15M 28.68M 21.83M 25.87M 13.69M 16.57M 9.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 1,335.63M 1,276.10M 1,081.63M 1,257.49M 1,367.59M 536.89M 550.65M 0.00M 801.97M 0.00M 41.69M 14.53M 889.06M 1,064.72M 1,179.10M 0.00M 0.00M 418.62M 110.76M 0.00M 29.36M 117.48M 163.11M 138.89M 184.67M 241.25M 73.33M 0.00M 0.00M
Other Non-Current Assets 2,517.31M 2,499.12M 2,978.27M 2,881.03M 1,442.96M 737.68M 824.78M 1,065.41M 1,375.52M 1,401.73M 1,306.57M 1,118.16M 997.94M 733.49M 835.35M 621.51M 2,136.01M 11.86M 615.58M 354.92M 378.93M 30.98M 31.80M 67.46M 101.47M 109.15M 222.06M 50.48M 13.29M
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
Total Non-Current Assets 43,285.43M 43,499.78M 43,664.38M 43,855.86M 43,441.29M 31,781.26M 28,510.26M 28,349.75M 24,068.35M 23,555.74M 23,065.36M 21,759.23M 20,165.72M 16,470.31M 15,591.99M 13,045.74M 12,549.28M 10,760.94M 10,352.66M 9,275.41M 9,733.51M 1,983.06M 1,832.66M 880.50M 942.09M 1,125.96M 1,167.32M 1,048.92M 697.13M
Total Assets 56,927.39M 56,386.35M 56,046.46M 55,021.69M 53,526.85M 46,904.16M 38,772.02M 36,661.10M 30,083.77M 31,230.86M 33,042.37M 33,589.42M 31,073.87M 27,917.98M 25,474.04M 21,231.27M 18,886.11M 17,502.78M 16,031.68M 14,323.01M 13,952.15M 4,290.18M 3,531.99M 1,626.96M 1,647.89M 1,502.15M 1,461.41M 1,340.98M 967.04M
Accounts Payable 4,221.15M 4,522.55M 4,986.91M 4,612.11M 4,237.23M 3,267.40M 3,128.73M 3,923.04M 4,323.37M 3,986.56M 3,461.08M 3,734.56M 5,402.20M 5,255.34M 4,293.12M 3,709.30M 3,103.47M 224.65M 3,328.71M 3,417.63M 2,720.33M 1,047.17M 691.02M 223.67M 123.68M 63.39M 103.45M 168.00M 87.59M
Short-Term Debt 955.23M 950.80M 348.35M 1,267.24M 1,264.97M 538.45M 1,689.39M 1,384.18M 698.73M 1,351.86M 1,145.23M 2,326.19M 1,281.55M 966.66M 951.01M 1,090.17M 957.55M 1,417.36M 1,431.22M 769.36M 293.33M 23.93M 62.87M 41.70M 248.17M 30.85M 39.02M 214.99M 50.38M
Tax Payables 4,709.34M 4,344.32M 3,888.57M 3,048.12M 2,311.93M 1,663.80M 1,232.08M 759.91M 783.50M 566.05M 816.87M 715.65M 808.21M 695.73M 839.98M 1,159.79M 809.70M 724.11M 601.78M 0.00M 0.00M 157.67M 161.65M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 258.68M 293.68M 280.42M 279.40M 1,013.71M 197.18M 266.44M 281.93M 406.87M 480.43M 812.34M 484.39M 0.00M 0.00M 0.00M 0.00M 0.00M 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 666.78M 658.07M 322.55M 4,464.72M 2,737.33M 4,790.22M 1,103.37M 1,282.99M 1,043.60M 754.56M 1,274.62M 1,857.93M -1,084.98M 1,043.30M 1,876.86M 690.56M 695.08M 3,290.67M 556.71M 141.16M 1,064.86M 227.05M 150.22M 16.83M 112.23M 77.24M 56.65M 66.17M 78.90M
Total Current Liabilities 10,811.18M 10,769.41M 9,826.81M 13,671.59M 11,565.17M 10,457.05M 7,420.00M 7,632.05M 7,256.07M 7,139.46M 7,510.14M 9,118.71M 6,406.99M 7,961.03M 7,960.97M 6,649.83M 5,565.80M 5,656.79M 5,918.42M 4,328.14M 4,078.52M 1,455.81M 1,065.76M 282.19M 484.07M 171.48M 199.12M 449.16M 216.87M
Long-Term Debt 1,899.76M 1,955.46M 2,687.15M 2,503.71M 3,704.86M 3,307.02M 655.65M 644.91M 964.29M 3,339.08M 5,574.56M 5,600.25M 5,472.87M 3,780.00M 3,439.08M 2,570.41M 2,277.12M 3,008.83M 2,066.51M 1,328.00M 1,875.14M 105.08M 41.22M 39.43M 72.92M 303.53M 313.73M 7.21M 10.15M
Capital Lease Obligations 13,505.18M 13,317.15M 12,575.85M 12,256.78M 12,831.87M 9,063.54M 8,378.84M 7,780.87M 1,940.07M 1,887.17M 1,802.24M 1,618.51M 329.67M 322.67M 0.00M 0.00M 0.00M 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 0.00M 0.00M 47.73M 0.00M 98.92M 108.36M 120.73M 481.17M 337.77M 123.89M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 32.36M 54.15M 16.55M
Other Non-Current Liabilities 3,165.97M 2,767.19M 2,902.69M 2,787.91M 2,946.87M 2,310.76M 1,434.46M 1,372.00M 1,481.76M 1,085.56M 1,736.76M 1,412.62M 2,450.93M 1,064.54M 1,265.00M 970.20M 1,018.13M 285.15M 502.86M 428.97M 298.20M 53.97M 54.22M 73.97M 85.98M 69.13M 3.76M 15.64M 1.69M
Total Non-Current Liabilities 18,570.90M 18,039.80M 18,165.68M 17,548.39M 19,483.59M 14,681.32M 10,468.94M 9,845.51M 4,386.12M 6,410.74M 9,221.91M 8,752.11M 8,734.64M 5,504.98M 4,827.97M 3,540.61M 3,295.25M 3,293.98M 2,569.37M 1,756.97M 2,173.34M 159.04M 95.44M 113.40M 158.90M 372.67M 349.86M 76.99M 28.39M
Total Liabilities 29,382.09M 28,809.21M 27,992.49M 31,219.98M 31,048.76M 25,138.36M 17,888.94M 17,477.56M 11,642.19M 13,550.20M 16,732.05M 17,870.82M 15,141.62M 13,466.01M 12,788.94M 10,190.44M 8,861.04M 8,950.77M 8,487.79M 6,085.11M 6,251.86M 1,614.86M 1,161.20M 395.60M 642.97M 544.15M 548.98M 526.15M 245.26M
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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 13,477.89M 13,477.89M 13,477.89M 13,477.89M 13,477.89M 13,477.89M 13,477.89M 9,866.30M 9,866.30M 9,866.30M 9,866.30M 9,866.30M 9,866.30M 9,839.77M 9,839.77M 9,839.77M 8,149.10M 8,149.10M 7,613.61M 0.00M 0.00M 1,472.08M 884.50M 367.67M 324.67M 245.03M 175.76M 211.23M 176.76M
Retained Earnings 1,680.71M 1,273.01M 11,038.37M 12,160.04M 0.00M 0.00M 9,285.55M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 276.94M 267.12M 237.17M
Accumulated OCI 10,398.07M 10,425.94M 1,891.82M 12,541.03M 11,919.64M 11,634.07M 9,709.69M 12,568.72M 9,937.06M 8,300.38M 7,324.58M 7,068.23M 5,456.80M 4,756.23M 3,996.47M 0.00M 0.00M 0.00M 0.00M 102.54M 237.86M 1,273.87M 1,136.00M 555.57M 520.67M 563.29M 317.31M 175.05M 158.40M
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 393.61M 176.79M 159.59M 149.69M 142.42M 161.44M 149.45M
Total Shareholders’ Equity 25,556.67M 25,176.84M 26,408.09M 38,178.96M 25,397.53M 25,111.96M 32,473.13M 22,435.02M 19,803.36M 18,166.68M 17,190.88M 16,934.53M 15,323.10M 14,596.00M 13,836.24M 9,839.77M 8,149.10M 8,149.10M 7,613.61M 102.54M 237.86M 2,745.94M 2,020.51M 923.24M 845.33M 808.31M 770.01M 653.39M 572.32M
Total Equity 25,556.67M 25,176.84M 26,408.09M 38,178.96M 25,397.53M 25,111.96M 32,473.13M 22,435.02M 19,803.36M 18,166.68M 17,190.88M 16,934.53M 15,323.10M 14,596.00M 13,836.24M 9,839.77M 8,149.10M 8,149.10M 7,613.61M 102.54M 237.86M 2,745.94M 2,414.11M 1,100.03M 1,004.92M 958.00M 912.43M 814.83M 721.78M
Total Liabilities & Equity 54,938.76M 53,986.05M 54,400.57M 69,398.93M 56,446.29M 50,250.33M 50,362.07M 39,912.58M 31,445.55M 31,716.88M 33,922.93M 34,805.34M 30,464.72M 28,062.00M 26,625.18M 20,030.21M 17,010.14M 17,099.86M 16,101.40M 6,187.65M 6,489.72M 4,360.80M 3,575.31M 1,495.63M 1,647.89M 1,502.15M 1,461.41M 1,340.98M 967.04M
Tangible Assets 42,410.79M 41,753.58M 41,191.50M 39,396.65M 37,110.31M 36,319.08M 29,744.94M 26,992.78M 19,401.76M 19,918.33M 22,409.79M 23,630.22M 21,751.24M 21,481.79M 19,484.85M 15,457.00M 14,350.26M 12,512.07M 11,214.37M 12,423.77M 11,795.44M 4,260.22M 3,491.41M 1,626.96M 1,647.89M 1,502.15M 1,461.41M 1,340.98M 967.04M
Tangible Equity 11,040.08M 10,544.07M 11,553.13M 22,553.92M 8,980.98M 14,526.88M 23,446.06M 12,766.70M 9,121.36M 6,854.16M 6,558.31M 6,975.33M 6,000.47M 8,159.82M 7,847.05M 4,065.49M 3,613.25M 3,158.38M 2,796.30M -1,796.71M -1,918.85M 2,715.98M 2,373.53M 1,100.03M 1,004.92M 958.00M 912.43M 814.83M 721.78M
Tangible Book Value 11,040.08M 10,544.07M 11,553.13M 22,553.92M 8,980.98M 14,526.88M 23,446.06M 12,766.70M 9,121.36M 6,854.16M 6,558.31M 6,975.33M 6,000.47M 8,159.82M 7,847.05M 4,065.49M 3,613.25M 3,158.38M 2,796.30M -1,796.71M -1,918.85M 2,715.98M 2,373.53M 1,100.03M 1,004.92M 958.00M 912.43M 814.83M 721.78M
Total Investments 4,664.68M 4,324.76M 4,368.64M 3,638.97M 3,743.68M 6,181.23M 2,077.50M 658.33M 790.07M 768.61M 479.95M 599.41M 41.15M 28.68M 22.64M 27.75M 31.87M 162.71M 32.96M 55.25M 599.46M 1,251.64M 766.46M 396.43M 421.69M 0.00M 0.00M 0.00M 0.00M
Net Debt -818.55M -88.36M -223.24M 693.02M 2,421.11M -1,383.15M -230.26M -255.72M 587.49M 1,730.23M 1,591.60M 1,826.03M 1,521.43M -540.99M -39.69M 397.73M 858.44M 2,013.16M 1,966.19M 980.04M 1,577.33M 98.88M 14.22M 60.53M 309.94M 194.53M 255.75M 220.12M -91.82M

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
Working Capital -592.6M -1,402.9M -164.3M -1,478.7M -2,753.6M 4,786.6M 2,109.6M 336.7M -1,077.3M 383.0M 2,825.8M 3,374.9M 2,051.2M 2,692.7M 2,592.5M 1,491.5M 734.8M 1,029.6M -44.8M 231.4M 307.2M 833.4M 629.7M 332.9M 221.7M 204.7M 95.0M -157.1M 53.0M
Total Capital 41,573.4M 41,348.9M 42,016.0M 42,043.7M 43,199.1M 38,016.1M 33,906.6M 32,241.8M 23,397.9M 24,729.3M 25,709.5M 26,478.0M 22,406.1M 19,664.0M 18,223.0M 16,617.3M 13,535.5M 12,748.9M 11,339.7M 9,866.3M 10,035.8M 2,875.0M 2,123.9M 1,005.1M 1,166.4M 1,142.7M 1,122.8M 875.6M 632.9M
Capital Employed 42,692.8M 42,096.9M 43,500.1M 42,377.2M 43,290.4M 39,207.7M 33,352.5M 32,231.4M 24,882.5M 25,375.9M 27,374.1M 26,745.2M 23,571.9M 20,090.1M 18,660.8M 16,642.6M 13,679.8M 11,712.8M 10,359.8M 9,506.8M 10,040.7M 2,905.0M 2,509.6M 1,213.4M 1,163.8M 1,330.7M 1,262.3M 891.8M 750.2M
Invested Capital 37,899.9M 38,354.3M 38,757.2M 38,965.7M 40,650.3M 32,787.5M 31,331.3M 29,957.0M 22,322.4M 21,768.6M 20,581.3M 20,377.6M 17,173.1M 14,376.3M 13,793.2M 13,354.5M 11,159.2M 10,335.9M 9,808.1M 8,749.0M 9,444.7M 2,844.8M 2,034.1M 984.5M 1,155.3M 1,002.8M 1,025.8M 873.5M 480.5M

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 2003-12-31 2002-12-31 2001-12-31 2000-12-31 1999-12-31 1998-12-31
Net Income 4,226.55M 3,399.74M 3,622.46M 2,837.42M 1,799.06M 3,103.23M 2,007.64M 4,536.07M 1,880.19M 1,435.52M 1,013.32M 2,979.84M 2,192.92M 2,136.15M 2,153.48M 1,281.23M 2,211.72M 214.89M 180.15M 76.09M -300.95M 399.20M 265.94M 120.31M 65.77M 59.89M 15.37M 21.48M 119.73M
Depreciation & Amortization 7,025.95M 7,050.60M 7,026.04M 7,117.03M 6,826.93M 5,691.70M 5,527.01M 5,128.98M 3,954.32M 4,013.67M 3,785.17M 3,361.97M 3,052.58M 2,767.87M 2,688.59M 2,569.77M 2,993.46M 2,582.81M 2,408.55M 2,323.48M 2,279.37M 532.36M 447.46M 210.94M 201.76M 174.73M 156.07M 120.25M 98.47M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 875.28M 798.46M 1,166.56M 1,105.77M 744.76M 617.18M -608.95M 0.00M 539.11M -1.42M 0.00M 0.00M -69.38M -130.79M 62.06M 86.70M 0.00M 0.00M 0.00M 29.07M -15.75M -25.16M -29.82M -16.55M
Stock-Based Compensation 0.24M 29.29M 22.35M -24.29M 6.80M 15.67M 6.34M 5.38M -1.42M 10.92M 3.80M 4.50M 5.69M 4.24M 2.51M 0.00M 0.00M 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 -346.50M -856.74M -1,157.45M -1,410.84M -1,861.23M 3,210.19M -445.21M -3,120.18M -776.22M -1,215.49M -902.55M -1,941.91M 145.34M -750.49M -548.83M -930.93M -1,382.47M -938.45M -343.94M -243.26M -672.08M -173.60M 143.85M 9.05M 84.82M 4.40M 40.14M -133.59M 33.23M
Accounts Receivable -865.00M -1,204.80M -1,261.66M -781.39M -628.24M -583.35M -390.09M -1,027.13M -1,028.79M 99.67M -291.83M 535.74M -204.17M -3.91M -541.42M -782.85M -611.03M -146.85M -354.26M 0.00M 0.00M -115.21M -157.13M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory 28.81M 33.12M 38.25M -95.67M -33.41M 44.05M -43.33M -20.22M -59.27M 20.15M -2.21M 122.31M 32.80M -27.68M 4.03M -39.38M 177.78M 142.08M -270.39M -114.01M 51.01M -34.68M -18.58M -0.67M 6.28M -9.49M 32.63M -40.53M 0.00M
Accounts Payable 581.91M -239.26M 304.24M 353.32M 757.89M 153.36M -818.99M -401.20M 331.74M 523.42M -296.01M -1,804.18M 12.62M 895.91M 550.59M 258.62M 294.29M -564.06M 275.07M 0.00M 0.00M 17.34M 280.61M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital -92.22M 778.97M -238.28M -887.10M -1,957.47M 3,596.13M 807.19M -1,671.63M -19.89M -1,858.73M -312.50M -795.78M 304.09M -1,614.81M -562.03M -367.32M -1,243.51M -369.63M 5.64M -129.25M -723.09M -41.05M 38.95M 9.72M 78.54M 13.89M 7.52M -93.06M 0.00M
Other Non-Cash Items 2,784.69M 5,450.97M 2,818.14M 3,877.04M 2,657.33M -135.50M 783.38M -650.14M -33.26M 414.73M 475.34M 482.75M 1,050.23M 572.61M 670.84M 1,209.38M -930.26M 423.54M 816.63M 231.50M 374.71M 68.72M 34.97M 10.53M 0.00M 26.35M 0.00M -3.01M 71.53M
Net Cash from Operating Activities 13,690.93M 12,588.29M 12,331.54M 12,420.66M 9,428.99M 12,760.56M 8,673.87M 7,064.73M 6,129.39M 5,404.11M 4,992.25M 4,278.21M 6,441.06M 5,269.50M 4,965.17M 4,129.44M 2,892.45M 2,501.53M 3,180.35M 2,527.93M 1,767.74M 826.68M 892.22M 350.84M 431.29M 249.62M 195.72M 63.16M 306.40M
Capital Expenditures (PPE) -4,569.50M -4,467.76M -4,550.38M -4,504.31M -4,730.22M -7,966.18M -3,891.31M -3,853.48M -3,831.91M -4,147.91M -4,502.40M -4,764.24M -6,829.44M -3,557.77M -3,764.73M -3,002.38M -1,744.57M -1,953.55M -3,444.05M -1,799.50M -2,238.61M -336.11M -674.49M 0.00M -67.74M -147.30M -204.29M -316.24M -193.07M
Acquisitions (Net) 0.00M -443.10M 0.00M -443.10M -6,270.41M 1,096.29M 21.96M 0.00M 0.00M 13.85M 133.71M 2,498.42M 0.00M 0.00M 0.00M -1,510.62M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -116.59M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -7,134.64M -9,156.78M -7,624.23M -3,052.42M -2,375.96M -2,502.03M -1,428.89M 0.00M -21.46M -288.66M 0.00M -558.26M 0.00M 0.00M 0.00M 0.00M 0.00M -59.43M 0.00M 0.00M 0.00M 0.00M -47.30M 0.00M -287.29M -11.10M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 6,549.07M 7,981.12M 7,196.35M 3,313.98M 2,375.96M 2,502.03M 1,428.89M 131.74M 0.00M 0.00M 119.46M 0.00M 0.00M 0.00M 0.00M 211.15M 276.38M 0.00M 122.62M 541.62M 499.48M 0.00M 0.00M 31.23M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 80.96M -55.16M 24.38M 2.31M 2,380.94M -2,501.98M -1,424.01M 9.10M 1.49M -252.67M 253.17M 1,940.16M -33.92M -9.18M 192.40M 7.33M 0.00M 1.96M 5.54M -0.42M 0.00M -485.19M 0.00M 19.42M -0.93M 0.00M 0.00M -4.15M -8.82M
Net Cash from Investing Activities -5,074.11M -6,141.67M -4,953.87M -4,683.54M -8,619.69M -9,371.87M -5,293.36M -3,712.64M -3,830.42M -4,400.58M -4,249.23M -2,824.08M -6,863.36M -3,566.94M -3,572.33M -4,294.52M -1,468.19M -2,011.01M -3,315.88M -1,258.29M -1,739.13M -821.30M -721.79M -65.94M -355.95M -158.40M -204.29M -320.39M -201.89M
Net Debt Issuance -2,150.31M -3,025.87M -2,659.38M -3,010.46M -563.30M 171.34M -934.83M -524.12M -3,202.42M -2,842.91M -1,581.19M -531.24M 1,300.76M -153.07M 371.51M -46.25M -1,218.87M 559.04M 757.32M -304.60M 7.76M 19.34M -57.42M -461.57M -84.52M -36.33M 117.21M 120.66M -16.79M
Long-Term Debt Issuance -2,150.31M -3,427.27M -2,659.38M -3,010.46M -563.30M 171.34M -934.83M -524.12M -3,202.42M -2,842.91M -1,581.19M -531.24M 1,300.76M -153.07M 371.51M -46.25M -1,218.87M 559.04M 757.32M -304.60M 7.78M 19.35M -57.68M -461.57M -84.52M -36.33M 117.21M 120.66M -16.79M
Short-Term Debt Issuance 0.00M -1,054.55M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.02M -0.01M 0.27M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -329.27M -71.87M -45.00M -2.82M 4.69M -11.07M 0.00M 0.44M 5.32M -13.12M 0.00M -0.02M 0.00M 0.00M -0.55M 1,671.74M 0.00M 0.00M 0.00M 0.00M 0.00M 8.40M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 4.69M 0.00M 0.00M 0.44M 5.32M 0.00M 0.00M 0.00M 26.20M 0.00M 0.00M 1,722.22M 0.00M 0.00M 0.00M 0.00M 0.00M 8.40M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -329.27M -71.87M -45.00M -2.82M 0.00M -11.07M 0.00M 0.00M 0.00M -13.12M 0.00M -0.02M 0.00M 0.00M 0.00M -3.37M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -47.12M 0.00M 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 -3,311.28M -2,415.10M -2,720.10M -2,174.93M -1,199.20M -1,042.98M -1,153.05M -770.14M -588.25M -332.66M -460.31M -360.45M -835.90M -734.91M -523.28M -486.35M -201.18M -168.07M -207.65M -440.25M -114.61M -92.89M -65.35M -29.54M -22.09M -10.17M -13.73M -43.29M 0.00M
Common Dividends Paid -3,311.28M -2,415.10M -2,720.10M -2,174.93M -1,199.20M -1,042.98M -1,153.05M -770.14M -588.25M -332.66M -460.31M -360.45M -835.90M -734.91M -523.28M -486.35M -201.18M -168.07M -207.65M -440.29M -114.89M -92.89M -74.93M -29.54M -22.09M -10.17M -13.73M -43.29M 0.00M
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 0.28M 0.00M -14.07M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -1,439.75M -2,255.27M -1,772.38M -2,019.69M -1,731.22M 147.34M -839.96M -848.98M -398.80M 17.68M 305.34M 305.02M -97.22M 43.28M -73.59M -87.43M -44.74M 0.00M 0.00M -11.52M 0.00M 0.02M 28.19M -31.70M -23.06M -1.87M 0.00M 0.00M 34.07M
Net Cash from Financing Activities -7,230.62M -7,768.10M -7,196.86M -7,207.90M -3,489.39M -735.37M -3,089.27M -2,142.80M -4,184.16M -3,171.01M -1,715.24M -586.71M 367.64M -844.70M -225.92M 1,051.70M -1,461.06M 390.97M 549.67M -744.83M -106.85M -65.13M -118.22M -275.40M -69.65M -48.37M 103.48M 77.37M 17.28M
Effect of FX on Cash 0.00M 543.07M 0.00M 0.00M 0.47M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 1,386.21M -778.41M 180.81M 529.22M -2,679.62M 2,653.33M 291.24M 1,209.28M -1,885.19M -2,167.47M -972.22M 867.41M -54.65M 857.86M 1,166.93M 886.62M -36.79M 881.49M 414.13M 524.80M -78.25M -59.75M 52.20M 9.50M 5.68M 42.85M 94.91M -179.86M 121.79M
Cash at Beginning of Period 11,381.06M 7,198.61M 3,077.93M 2,548.71M 5,228.62M 2,575.29M 2,284.05M 1,075.53M 2,960.72M 5,128.19M 6,100.40M 5,232.99M 5,287.64M 4,429.78M 3,262.86M 2,376.23M 2,413.02M 1,531.54M 1,117.41M 592.52M 518.05M 89.87M 37.67M 11.10M 5.46M 97.01M 2.08M 181.95M 30.57M
Cash at End of Period 12,767.26M 6,420.19M 3,258.74M 3,077.93M 2,549.00M 5,228.62M 2,575.29M 2,284.81M 1,075.53M 2,960.72M 5,128.19M 6,100.40M 5,232.99M 5,287.64M 4,429.78M 3,262.86M 2,376.23M 2,413.03M 1,531.54M 1,117.32M 439.80M 30.12M 89.87M 20.60M 11.15M 139.86M 97.00M 2.08M 152.35M
Operating Cash Flow 13,690.93M 12,576.60M 12,331.54M 12,420.66M 9,428.99M 12,760.56M 8,673.87M 7,064.73M 6,129.39M 5,404.11M 4,992.25M 4,278.21M 6,441.06M 5,269.50M 4,965.17M 4,129.44M 2,892.45M 2,501.53M 3,180.35M 2,527.93M 1,767.74M 826.68M 892.22M 350.84M 431.29M 249.62M 195.72M 63.16M 306.40M
Capital Expenditure -4,569.50M -4,467.76M -4,550.38M -4,504.31M -4,730.22M -7,966.18M -3,891.31M -3,853.48M -3,831.91M -4,147.91M -4,502.40M -4,764.24M -6,829.44M -3,557.77M -3,764.73M -3,002.38M -1,744.57M -1,953.55M -3,444.05M -1,799.50M -2,238.61M -336.11M -674.49M 0.00M -67.74M -147.30M -204.29M -316.24M -193.07M
Free Cash Flow 9,121.44M 8,108.84M 7,781.16M 7,916.34M 4,698.77M 4,794.38M 4,782.57M 3,211.24M 2,297.48M 1,256.21M 489.85M -486.03M -388.37M 1,711.74M 1,200.44M 1,127.07M 1,147.89M 547.99M -263.70M 728.43M -470.87M 490.56M 217.72M 350.84M 363.55M 102.32M -8.57M -253.09M 113.33M

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
EBITDA 14,643.09M 13,328.33M 15,321.25M 14,243.27M 11,980.74M 9,413.35M 9,433.01M 9,127.00M 7,345.03M 7,090.75M 6,190.44M 6,490.90M 6,515.89M 6,123.45M 8,371.80M 5,833.91M 5,173.63M 5,701.29M 6,053.76M 3,109.48M 2,684.43M 1,088.95M 889.30M 602.07M 337.85M 295.33M 374.85M 282.12M 410.91M
(-) Tax Adjustment 684.68M 1,772.24M 1,981.87M 1,550.51M 349.16M 443.03M 770.33M 1,838.93M 0.00M 992.89M 1,606.01M 1,979.38M 1,920.96M 1,807.49M 2,739.15M 1,746.28M 0.00M 142.68M 0.00M 1,088.32M 0.00M 257.59M 216.35M 156.48M 77.17M 0.00M 0.00M 0.00M 113.02M
(-) Change In Working Capital -346.50M -856.74M -1,157.45M -1,410.84M -1,861.23M 3,210.19M -445.21M -3,120.18M -776.22M -1,215.49M -902.55M -1,941.91M 145.34M -750.49M -548.83M -930.93M -1,382.47M -938.45M -343.94M -243.26M -672.08M -173.60M 143.85M 9.05M 84.82M 4.40M 40.14M -133.59M 33.23M
(-) Capital Expenditure -4,569.50M -4,467.76M -4,550.38M -4,504.31M -4,730.22M -7,966.18M -3,891.31M -3,853.48M -3,831.91M -4,147.91M -4,502.40M -4,764.24M -6,829.44M -3,557.77M -3,764.73M -3,002.38M -1,744.57M -1,953.55M -3,444.05M -1,799.50M -2,238.61M -336.11M -674.49M 0.00M -67.74M -147.30M -204.29M -316.24M -193.07M
Unlevered Free Cash Flow 9,735.41M 7,945.07M 9,946.45M 9,599.28M 8,762.59M -2,206.05M 5,216.58M 6,554.77M 4,289.34M 3,165.44M 984.58M 1,689.19M -2,379.85M 1,508.69M 2,416.76M 2,016.18M 4,811.53M 4,543.51M 2,953.65M 464.93M 1,117.91M 668.85M -145.39M 436.55M 108.11M 143.64M 130.42M 99.46M 71.59M
(-) Net Interest Income After Taxes -1,479.50M -1,460.89M -1,472.22M -1,400.48M -1,226.38M -622.27M -700.41M -662.51M -222.74M -134.30M -37.38M -9.69M -45.08M -68.49M -83.48M -45.92M -139.33M -198.26M -374.98M 46.60M 0.00M 57.19M 49.04M -45.87M -14.79M -81.26M -16.98M -36.95M -67.27M
Net Debt Issuance -2,150.31M -3,025.87M -2,659.38M -3,010.46M -563.30M 171.34M -934.83M -524.12M -3,202.42M -2,842.91M -1,581.19M -531.24M 1,300.76M -153.07M 371.51M -46.25M -1,218.87M 559.04M 757.32M -304.60M 7.76M 19.34M -57.42M -461.57M -84.52M -36.33M 117.21M 120.66M -16.79M
Levered Free Cash Flow 9,064.60M 6,380.09M 8,759.28M 7,989.30M 9,425.66M -1,412.44M 4,982.17M 6,693.16M 1,309.66M 456.84M -559.23M 1,167.64M -1,034.00M 1,424.11M 2,871.75M 2,015.84M 3,731.98M 5,300.81M 4,085.94M 113.73M 1,125.67M 631.00M -251.85M 20.84M 38.38M 188.56M 264.60M 257.07M 122.06M