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Definitive Analysis

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Page: Industry Financials

0SAY.L

Industry Analysis

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Industry Enterprise Value

Metric MRQ 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 1995
Stock Price 84.06 41.60 33.71 34.31 36.87 35.71 26.63 30.73 35.88 31.23 33.69 33.19 29.72 23.53 21.18 24.09 21.79 21.46 34.91 40.28 30.47 24.29 15.22 10.06 14.88 12.90 14.23 12.84 9.75 6.49 6.10
Market Capitalization 24,153.62M 2,456.87M 1,696.34M 1,437.51M 1,761.32M 1,670.64M 1,350.61M 1,491.77M 1,544.06M 1,606.51M 1,441.97M 2,406.03M 2,120.65M 1,963.51M 842.02M 903.51M 992.28M 1,301.91M 1,918.23M 2,691.65M 1,845.93M 1,193.80M 829.03M 1,484.27M 4,828.63M 4,194.82M 5,253.32M 4,707.42M 3,665.13M 2,315.44M 2,180.48M
(-) Cash & Equivalents 942.08M 561.20M 426.84M 480.72M 506.66M 495.27M 430.95M 388.30M 514.90M 519.41M 499.43M 411.21M 524.00M 454.87M 152.12M 116.85M 126.31M 109.78M 64.06M 47.73M 59.55M 66.19M 52.31M 27.65M 62.23M 32.69M 36.66M 31.88M 7.47M 5.86M 8.97M
(+) Total Debt 2,655.10M 1,067.55M 1,055.72M 868.04M 715.94M 450.98M 440.53M 358.70M 392.86M 278.55M 406.07M 278.82M 250.27M 167.86M 192.48M 118.59M 89.64M 132.78M 70.14M 54.62M 48.90M 4.74M 7.59M 5.44M 276.03M 273.16M 167.67M 142.96M 230.37M 195.01M 211.81M
Enterprise Value 26,495,711,649.72 2,886,119,808.27 2,513,997,757.46 2,215,941,244.03 2,324,130,805.70 2,108,036,393.14 2,057,935,185.20 2,492,194,392.07 3,752,112,101.48 3,293,116,716.59 3,061,521,279.16 2,414,665,292.66 2,109,767,815.93 1,353,014,500.94 880,119,688.60 787,085,685.35 779,182,254.29 1,029,797,488.31 1,696,716,055.12 1,878,200,370.12 1,885,367,727.66 1,177,141,441.86 779,673,837.57 1,498,034,705.57 5,097,905,928.50 4,494,394,677.25 5,434,740,360.67 4,861,840,353.00 4,005,207,600.00 2,605,532,900.00 2,491,286,130.00

Industry Income Statement

Metric TTM 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 1995
Revenue 1,872.81M 837.00M 715.96M 665.40M 650.43M 499.40M 562.12M 442.15M 493.21M 331.73M 322.61M 283.22M 241.09M 245.62M 217.78M 165.58M 189.30M 265.58M 365.27M 406.93M 290.60M 247.46M 342.73M 336.95M 1,171.33M 1,026.33M 1,492.69M 1,417.91M 1,182.11M 1,031.01M 983.21M
Cost of Revenue 624.23M 361.24M 235.78M 205.59M 133.12M 100.49M 108.82M 111.52M 122.64M 78.78M 46.41M 29.47M 25.43M 21.53M 21.04M 10.56M 5.64M 50.21M 56.22M 76.64M 52.98M 104.23M 77.75M 81.43M 456.81M 403.57M 574.40M 557.45M 546.47M 481.67M 446.77M
Gross Profit 1,248.58M 475.75M 480.18M 459.80M 517.30M 398.90M 453.30M 330.63M 370.57M 252.95M 276.21M 253.75M 215.66M 224.10M 196.74M 155.02M 183.66M 215.36M 309.05M 330.28M 237.62M 143.24M 264.98M 255.52M 714.52M 622.76M 918.29M 860.46M 635.65M 549.34M 536.44M
Gross Margin 66.7% 56.8% 67.1% 69.1% 79.5% 79.9% 80.6% 74.8% 75.1% 76.3% 85.6% 89.6% 89.5% 91.2% 90.3% 93.6% 97.0% 81.1% 84.6% 81.2% 81.8% 57.9% 77.3% 75.8% 61.0% 60.7% 61.5% 60.7% 53.8% 53.3% 54.6%
R&D Expenses 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
SG&A Expenses 172.03M 74.97M 69.29M 62.51M 57.46M 56.84M 45.79M 28.71M 33.88M 32.51M 66.60M 55.04M 54.54M 55.18M 25.03M 49.90M 42.66M 58.70M 44.87M 26.27M 18.70M 26.16M 66.19M 62.56M 398.92M 332.27M 517.53M 500.50M 375.95M 326.21M 323.44M
Operating Expenses 172.03M 74.97M 69.29M 62.51M 57.46M 56.84M 45.79M 28.71M 33.88M 32.51M 66.60M 55.04M 54.54M 55.18M 25.03M 49.90M 42.66M 58.70M 44.87M 26.27M 18.70M 26.16M 66.19M 62.56M 398.92M 332.27M 517.53M 500.50M 375.95M 326.21M 323.44M
Operating Income 1,076.55M 400.78M 410.89M 397.29M 459.84M 342.06M 407.51M 301.93M 336.68M 220.44M 209.61M 198.71M 161.11M 168.92M 171.71M 105.12M 141.00M 156.67M 264.17M 304.01M 218.92M 117.08M 198.79M 192.96M 315.60M 290.48M 400.76M 359.96M 259.70M 223.14M 213.01M
Operating Margin 57.5% 47.9% 57.4% 59.7% 70.7% 68.5% 72.5% 68.3% 68.3% 66.5% 65.0% 70.2% 66.8% 68.8% 78.8% 63.5% 74.5% 59.0% 72.3% 74.7% 75.3% 47.3% 58.0% 57.3% 26.9% 28.3% 26.8% 25.4% 22.0% 21.6% 21.7%
Interest Income 18.25M 15.78M 15.16M 4.28M 5.34M 6.32M 5.12M 7.15M 10.89M 3.13M 2.86M 5.55M 4.45M 3.75M 7.61M 3.38M 2.89M 11.68M 7.27M 5.53M 4.67M 2.09M 0.86M 1.01M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Expense 42.23M 33.54M 43.65M 23.40M 17.01M 15.34M 15.30M 9.27M 9.68M 8.28M 5.80M 6.45M 6.07M 6.84M 17.49M 4.98M 15.14M 23.67M 8.55M 3.86M 2.21M 1.93M 1.74M 0.93M 5.53M 3.67M 11.81M 4.30M 0.59M 0.63M 0.48M
Net Interest Income -23.98M -17.76M -28.49M -19.12M -11.66M -9.02M -10.18M -2.12M 1.21M -5.15M -2.94M -0.90M -1.61M -3.09M -9.87M -1.60M -12.25M -11.99M -1.27M 1.66M 2.45M 0.17M -0.88M 0.08M -5.53M -3.67M -11.81M -4.30M -0.59M -0.63M -0.48M
Other Income / Expense -490.89M -199.27M -231.10M -228.21M -194.25M -216.14M -286.68M -223.67M -173.09M -71.34M -59.17M -77.77M -49.78M -77.36M -91.40M -26.65M -38.41M -83.18M -81.11M -148.12M -64.41M -13.23M -122.46M -147.21M -79.76M -72.81M -101.94M -110.45M -97.18M 54.89M -81.39M
Pre-Tax Income 561.68M 183.76M 151.30M 149.96M 253.93M 116.91M 110.64M 76.14M 164.80M 143.95M 147.50M 120.04M 109.72M 88.48M 70.43M 76.88M 90.34M 61.49M 181.80M 157.56M 156.96M 104.02M 75.45M 45.82M 230.31M 214.00M 287.00M 245.21M 161.93M 277.40M 131.14M
Pre-Tax Margin 30.0% 22.0% 21.1% 22.5% 39.0% 23.4% 19.7% 17.2% 33.4% 43.4% 45.7% 42.4% 45.5% 36.0% 32.3% 46.4% 47.7% 23.2% 49.8% 38.7% 54.0% 42.0% 22.0% 13.6% 19.7% 20.9% 19.2% 17.3% 13.7% 26.9% 13.3%
Income Tax Expense 139.94M 26.91M 24.62M 20.86M 21.45M 13.71M 26.75M 14.96M 13.96M 20.68M 15.04M 19.60M 14.45M 14.61M 10.45M 5.91M 6.27M 11.66M 14.89M 10.67M 12.21M 10.01M 23.71M 18.97M 98.89M 87.72M 116.99M 97.75M 64.94M 111.50M 56.73M
Tax Rate 24.9% 14.6% 16.3% 13.9% 8.4% 11.7% 24.2% 19.6% 8.5% 14.4% 10.2% 16.3% 13.2% 16.5% 14.8% 7.7% 6.9% 19.0% 8.2% 6.8% 7.8% 9.6% 31.4% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Net Income 421.74M 156.85M 126.68M 129.10M 232.48M 103.19M 83.90M 61.18M 150.84M 123.27M 132.46M 100.44M 95.26M 73.86M 59.98M 70.97M 84.08M 49.84M 166.90M 146.89M 144.75M 94.01M 51.75M 26.85M 131.42M 126.28M 170.01M 147.46M 96.99M 165.90M 74.40M
Net Margin 22.5% 18.7% 17.7% 19.4% 35.7% 20.7% 14.9% 13.8% 30.6% 37.2% 41.1% 35.5% 39.5% 30.1% 27.5% 42.9% 44.4% 18.8% 45.7% 36.1% 49.8% 38.0% 15.1% 8.0% 11.2% 12.3% 11.4% 10.4% 8.2% 16.1% 7.6%
EBIT 1,076.55M 400.78M 410.89M 397.29M 459.84M 342.06M 407.51M 301.93M 336.68M 220.44M 209.61M 198.71M 161.11M 168.92M 171.71M 105.12M 141.00M 156.67M 264.17M 304.01M 218.92M 117.08M 198.79M 192.96M 315.60M 290.48M 400.76M 359.96M 259.70M 223.14M 213.01M
Depreciation & Amortization 48.28M 20.85M 18.63M 18.37M 14.93M 16.13M 18.79M 11.12M 12.17M 9.47M 3.45M -6.81M 1.80M 5.41M 7.21M 8.00M 3.56M 13.60M 10.01M 7.54M 8.90M 10.81M 11.45M 8.58M 95.14M 82.64M 112.45M 110.31M 97.99M 79.68M 77.31M
EBITDA 1,124.83M 421.63M 429.52M 415.66M 474.77M 358.19M 426.30M 313.05M 348.86M 229.91M 213.06M 191.90M 162.91M 174.32M 178.91M 113.12M 144.56M 170.27M 274.18M 311.55M 227.82M 127.89M 210.25M 201.53M 410.74M 373.13M 513.21M 470.27M 357.69M 302.81M 290.32M
EBITDA Margin 60.1% 50.4% 60.0% 62.5% 73.0% 71.7% 75.8% 70.8% 70.7% 69.3% 66.0% 67.8% 67.6% 71.0% 82.2% 68.3% 76.4% 64.1% 75.1% 76.6% 78.4% 51.7% 61.3% 59.8% 35.1% 36.4% 34.4% 33.2% 30.3% 29.4% 29.5%
NOPAT 808.33M 342.10M 344.03M 342.02M 420.99M 301.95M 309.00M 242.61M 308.16M 188.77M 188.23M 166.27M 139.89M 141.01M 146.23M 97.05M 131.22M 126.97M 242.53M 283.42M 201.89M 105.81M 136.34M 125.42M 205.14M 188.81M 260.49M 233.97M 168.81M 145.04M 138.45M
NOPAT Margin 43.2% 40.9% 48.1% 51.4% 64.7% 60.5% 55.0% 54.9% 62.5% 56.9% 58.3% 58.7% 58.0% 57.4% 67.1% 58.6% 69.3% 47.8% 66.4% 69.6% 69.5% 42.8% 39.8% 37.2% 17.5% 18.4% 17.5% 16.5% 14.3% 14.1% 14.1%
Owner's Earnings 470.02M 177.70M 145.31M 147.47M 247.40M 119.33M 102.69M 72.30M 163.01M 132.74M 135.90M 93.63M 97.06M 79.27M 67.19M 78.97M 87.64M 63.44M 176.91M 154.43M 153.65M 104.82M 63.20M 35.43M 226.56M 208.92M 282.46M 257.78M 194.99M 245.57M 151.72M
Owner's Earnings Margin 25.1% 21.2% 20.3% 22.2% 38.0% 23.9% 18.3% 16.4% 33.1% 40.0% 42.1% 33.1% 40.3% 32.3% 30.9% 47.7% 46.3% 23.9% 48.4% 37.9% 52.9% 42.4% 18.4% 10.5% 19.3% 20.4% 18.9% 18.2% 16.5% 23.8% 15.4%
EPS 4.13 1.73 1.50 1.58 2.77 1.25 1.06 0.88 1.97 1.67 1.89 1.21 1.09 0.78 0.72 0.81 0.95 0.42 1.62 1.35 1.22 0.83 0.43 0.22 0.52 0.50 0.70 0.66 0.53 0.95 0.43
EPS (Diluted) 4.13 1.73 1.50 1.58 2.77 1.25 1.06 0.88 1.97 1.67 1.89 1.21 1.09 0.78 0.72 0.81 0.95 0.42 1.62 1.35 1.22 0.83 0.43 0.22 0.52 0.50 0.70 0.66 0.53 0.95 0.43
Shares (Diluted) 102.03M 90.66M 84.60M 81.90M 83.91M 82.39M 79.49M 69.40M 76.63M 73.85M 70.24M 83.27M 87.23M 94.92M 83.59M 87.49M 88.85M 117.69M 103.32M 109.12M 118.85M 112.84M 120.26M 123.46M 251.75M 251.73M 241.60M 222.93M 182.74M 175.03M 174.42M

Industry Balance Sheet

Metric MRQ 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 1995
Cash & Cash Equivalents 598.95M 561.14M 436.52M 480.72M 506.66M 495.27M 430.95M 388.30M 460.90M 511.63M 477.79M 411.21M 524.00M 453.88M 156.21M 121.41M 126.31M 109.78M 62.83M 58.14M 62.68M 70.08M 52.31M 27.65M 62.23M 32.69M 36.66M 31.88M 7.47M 5.86M 8.97M
Short-Term Investments 4.98M -0.49M 224.74M 43.19M 91.01M 67.80M 90.94M 15.07M 25.32M 32.93M 13.37M 49.57M 67.32M 53.94M 16.47M 102.44M 56.92M 11.44M 8.65M 0.80M 0.40M 0.10M 18.05M 0.42M 366.71M 0.12M 0.22M 0.23M 0.24M 9.11M 0.51M
Cash & Short-Term Investments 603.93M 560.66M 661.26M 523.91M 597.67M 563.06M 521.89M 403.37M 486.23M 544.57M 491.16M 460.77M 591.32M 507.82M 172.69M 223.84M 183.23M 121.21M 71.48M 58.94M 63.08M 70.18M 70.36M 28.07M 428.94M 32.82M 36.89M 32.10M 7.71M 14.97M 9.48M
Net Receivables 885.09M 206.06M 152.70M 148.80M 116.34M 134.26M 62.79M 59.11M 90.83M 90.18M 62.06M 41.49M 48.93M 77.53M 51.06M 44.38M 66.84M 43.57M 105.39M 54.83M 124.99M 68.83M 80.16M 31.62M 258.40M 257.62M 284.62M 351.52M 330.26M 297.88M 291.49M
Inventory 0.00M 0.00M 0.00M -0.07M 0.00M 0.00M -0.01M -7.38M -6.95M -22.61M -0.10M 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 80.53M 77.79M 73.83M 71.18M 96.83M 91.07M 79.33M
Other Current Assets 43.47M 216.87M 13.08M 154.25M 101.45M 48.41M 77.95M 23.49M 16.78M 15.24M 16.39M 18.05M 12.09M 14.21M 48.72M 13.13M 12.63M 15.92M 11.80M 0.80M 2.68M 5.58M 51.24M 18.18M 57.88M 116.13M 71.09M 101.76M 62.43M 63.67M 42.19M
Total Current Assets 1,532.49M 983.59M 827.04M 826.89M 815.46M 745.73M 662.62M 478.58M 586.89M 627.37M 569.51M 520.32M 652.34M 599.55M 272.47M 281.36M 262.70M 180.70M 188.67M 114.57M 190.75M 144.59M 201.76M 77.87M 825.76M 484.35M 466.41M 556.56M 497.24M 467.58M 422.50M
Property, Plant & Equipment 154.15M 63.96M 60.27M 52.49M 49.50M 54.49M 50.48M 27.32M 28.20M 24.10M 25.88M 24.71M 25.69M 25.93M 15.44M 17.57M 19.69M 26.44M 29.57M 18.94M 15.81M 16.66M 33.65M 16.84M 123.05M 114.82M 180.69M 170.47M 98.69M 112.90M 120.80M
Goodwill 1,566.21M 130.83M 138.24M 89.76M 81.38M 81.70M 83.56M 34.43M 73.97M 40.15M 55.87M 38.35M 29.03M 29.03M 3.02M 0.00M 0.76M 2.90M 3.49M 3.38M 1.76M 1.28M 2.20M 1.66M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 643.02M 63.28M 63.06M 86.33M 80.97M 82.70M 44.03M 38.02M 36.10M 26.60M 22.81M 17.50M 14.59M 17.98M 21.59M 31.51M 27.34M 30.52M 17.62M 16.89M 3.18M 0.49M 22.68M 0.77M 365.75M 342.23M 355.15M 362.83M 436.10M 435.43M 319.47M
Long-Term Investments 653.83M 768.82M 1,084.59M 746.04M 749.26M 580.12M 529.53M 398.82M 371.18M 357.46M 292.15M 381.77M 393.34M 352.80M 503.71M 517.68M 268.63M 340.77M 376.91M 307.80M 332.49M 274.94M 174.80M 26.19M 78.19M 63.07M 77.91M 0.33M 0.70M 1.28M 38.49M
Tax Assets 1.72M 1.55M 1.26M 21.14M 13.69M 5.85M 4.50M 5.67M 6.38M 9.39M 2.64M 1.07M 0.99M 0.85M 1.25M 0.39M 0.90M 1.04M 0.18M 0.07M 0.00M 0.00M 0.00M 0.00M 0.12M 0.17M 0.22M 0.27M 0.37M 0.37M 0.74M
Other Non-Current Assets 555.72M 915.17M 426.61M 218.80M 84.61M 41.29M 83.21M -5.61M -32.54M -96.29M 95.64M -98.60M -36.00M -298.00M -270.37M -265.19M -101.64M -127.82M -190.02M -220.13M -283.84M -284.22M -195.82M -18.28M 235.24M 219.63M 271.16M 313.62M 219.80M 217.10M 182.55M
Other Assets 0.00M 0.00M 0.00M 25.08M 19.16M 22.75M 3.67M 8.36M 11.49M 6.90M 2.97M 5.14M 27.34M 52.86M 119.81M 0.01M 0.92M 133.81M 132.00M 0.00M 84.35M 117.10M 248.24M 10.65M 0.00M 0.00M 4.41M 37.20M 47.75M 32.39M 25.96M
Total Non-Current Assets 3,574.64M 1,943.61M 1,774.03M 1,239.63M 1,078.56M 868.90M 798.98M 507.03M 494.78M 368.30M 497.97M 369.93M 454.99M 181.45M 394.45M 301.97M 216.60M 407.66M 369.74M 126.95M 153.75M 126.25M 285.75M 37.84M 802.34M 739.92M 889.54M 884.72M 803.41M 799.47M 688.01M
Total Assets 5,107.13M 2,927.19M 2,601.07M 2,066.53M 1,894.02M 1,614.63M 1,461.59M 985.61M 1,081.67M 995.67M 1,067.48M 890.25M 1,107.32M 781.00M 666.92M 583.33M 479.30M 588.37M 558.41M 241.53M 344.50M 270.84M 487.51M 115.71M 1,628.10M 1,224.28M 1,355.96M 1,441.28M 1,300.65M 1,267.05M 1,110.51M
Accounts Payable 90.27M 23.69M 17.09M 16.64M 15.06M 13.12M 11.67M 10.64M 11.10M 8.78M 7.53M 7.98M 7.78M 7.64M 9.49M 6.11M 2.55M 5.32M 7.89M 9.27M 7.21M 7.60M 48.08M 53.01M 120.54M 92.44M 154.22M 79.89M 95.47M 80.84M 71.79M
Short-Term Debt 36.17M 140.98M 96.61M 102.77M 32.90M 31.00M 14.73M 48.31M 34.70M 24.67M 29.97M 9.76M 14.22M 6.67M 18.80M 2.93M 56.11M 14.27M 1.90M 4.32M 0.62M 1.09M 5.09M 4.44M 45.02M 45.71M 77.27M 28.12M 25.82M 8.70M 23.79M
Tax Payables 0.21M 2.57M 3.40M 5.76M 5.14M 3.90M 1.93M 2.45M 3.44M 2.25M 1.83M 1.94M 1.57M 1.83M 1.62M 2.39M 1.98M 2.29M 2.48M 0.66M 1.33M 0.18M 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 0.00M 0.07M 0.05M 0.04M 0.00M 0.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.43M 0.15M 54.66M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 593.64M 997.54M 167.97M 110.90M 107.75M 95.71M 74.55M 33.38M 29.54M 62.68M 21.03M 13.18M 4.08M 12.54M 64.44M 24.26M 2.19M 2.42M 19.55M -4.50M 5.78M 3.43M -5.70M 14.48M 588.21M 308.75M 243.87M 553.18M 281.11M 326.45M 290.76M
Total Current Liabilities 720.28M 1,164.77M 285.07M 236.07M 160.93M 143.78M 102.91M 94.79M 78.81M 98.37M 60.36M 32.86M 27.65M 28.68M 94.36M 35.69M 62.83M 24.29M 31.82M 9.75M 14.94M 12.29M 47.90M 72.07M 808.43M 446.90M 475.36M 661.19M 402.40M 415.99M 386.33M
Long-Term Debt 2,739.52M 651.21M 526.14M 407.37M 396.20M 356.74M 287.67M 272.09M 349.26M 211.65M 124.13M 236.16M 226.00M 157.48M 84.90M 41.80M 56.94M 73.43M 48.54M 3.27M 0.55M 0.00M 0.22M 2.40M 231.02M 227.47M 90.34M 114.68M 204.54M 186.05M 187.75M
Capital Lease Obligations 0.72M 11.62M 34.62M 19.32M 17.93M 16.38M 18.35M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.01M 0.04M
Deferred Tax Liabilities 75.64M 3.07M 7.82M 5.97M 6.46M 1.97M 5.09M 3.39M 3.93M 3.20M 3.34M 0.63M 0.58M 0.14M 1.25M 1.55M 2.52M 0.87M 1.20M 0.62M 0.00M 0.16M 0.44M 0.00M 38.07M 32.65M 42.58M 167.43M 48.91M 55.48M 49.28M
Other Non-Current Liabilities 254.93M 173.14M 118.32M 36.40M 26.43M 43.67M 38.36M 36.95M 133.71M 39.67M 31.95M 12.79M 3.32M 1.32M 3.22M 37.74M 2.96M 6.60M 9.21M 7.53M 4.55M 4.05M 5.49M 4.89M 113.49M 110.05M 216.83M 90.88M 121.95M 113.07M 105.90M
Total Non-Current Liabilities 3,070.81M 839.04M 686.90M 469.07M 447.01M 418.75M 349.46M 312.42M 486.90M 254.51M 159.43M 249.58M 229.89M 158.94M 89.36M 81.09M 62.41M 80.91M 58.94M 11.42M 5.11M 4.21M 6.14M 7.28M 382.58M 370.16M 349.75M 372.99M 375.40M 354.61M 342.97M
Total Liabilities 3,791.09M 2,003.81M 971.97M 705.14M 607.94M 562.53M 452.37M 407.21M 565.71M 352.89M 219.78M 282.44M 257.55M 187.62M 183.72M 116.78M 125.24M 105.20M 90.76M 21.17M 20.04M 16.51M 54.05M 79.36M 1,191.01M 817.07M 825.10M 1,034.19M 777.80M 770.60M 729.30M
Preferred Stock 0.00M 0.00M 0.00M 0.05M 0.00M 0.00M 6.10M 0.06M 0.69M 1.47M 0.00M 0.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.08M
Common Stock 32.26M 33.21M 36.56M 25.45M 35.65M 50.37M 36.98M 37.56M 42.33M 37.33M 30.05M 28.88M 35.67M 30.45M 24.13M 24.49M 25.05M 29.97M 33.50M 26.21M 33.22M 30.59M 59.12M 59.59M 75.34M 74.53M 92.26M 3.75M 4.99M 4.99M 4.46M
Retained Earnings 4,269.57M 883.60M 1,260.11M 719.11M 690.54M 546.92M 490.27M 730.53M 644.51M 338.68M 351.80M 424.85M 382.78M 359.46M 249.66M 173.85M 264.14M 398.24M 455.55M 367.50M 353.53M 274.59M 114.21M 64.00M 497.78M 447.08M 459.39M 360.88M 515.95M 465.82M 343.17M
Accumulated OCI -119.84M -10.62M -17.50M -3.79M 7.54M 5.49M 10.19M 28.33M 76.89M 37.03M -20.09M 2.13M 0.93M 0.00M 0.01M -7.71M 0.00M 0.00M 1.07M 0.01M 0.08M 0.13M 0.00M -0.17M -1.45M -0.85M -80.42M -245.36M -188.49M -174.75M -163.90M
Minority Interest 1.63M 1.10M 0.74M 0.56M 2.00M 2.22M 3.19M 1.44M 3.02M 1.72M 0.76M 0.15M 0.66M 0.55M 1.38M 1.27M 0.24M 0.05M 0.19M 0.02M 0.06M 0.00M 0.01M 0.03M 0.00M 0.00M 75.48M 75.43M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 4,181.99M 906.20M 1,279.17M 740.82M 733.73M 602.79M 543.54M 796.48M 764.42M 414.51M 361.76M 455.91M 419.38M 389.90M 273.80M 190.64M 289.19M 428.21M 490.13M 393.72M 386.83M 305.31M 173.33M 123.42M 571.67M 520.76M 471.23M 119.27M 332.46M 296.06M 183.81M
Total Equity 4,183.62M 907.30M 1,279.92M 741.37M 735.73M 605.01M 546.73M 797.92M 767.44M 416.23M 362.52M 456.06M 420.04M 390.46M 275.18M 191.90M 289.43M 428.26M 490.32M 393.73M 386.90M 305.31M 173.34M 123.45M 571.67M 520.76M 546.70M 194.69M 332.46M 296.06M 183.81M
Total Liabilities & Equity 7,974.72M 2,911.11M 2,251.89M 1,446.51M 1,343.67M 1,167.53M 999.11M 1,205.13M 1,333.15M 769.12M 582.31M 738.49M 677.59M 578.08M 458.90M 308.68M 414.67M 533.46M 581.08M 414.91M 406.94M 321.81M 227.38M 202.80M 1,762.69M 1,337.82M 1,371.80M 1,228.88M 1,110.26M 1,066.66M 913.11M
Tangible Assets 2,897.90M 2,733.09M 2,399.77M 1,890.44M 1,731.68M 1,450.24M 1,334.01M 913.15M 971.60M 928.92M 988.80M 834.40M 1,063.71M 733.99M 642.31M 551.82M 451.20M 554.94M 537.30M 221.25M 339.56M 269.07M 462.64M 113.28M 1,262.35M 882.05M 1,000.81M 1,078.45M 864.55M 831.62M 791.04M
Tangible Equity 1,974.39M 713.20M 1,078.61M 565.28M 573.39M 440.61M 419.14M 725.46M 657.37M 349.48M 283.84M 400.21M 376.43M 343.45M 250.57M 160.39M 261.32M 394.84M 469.21M 373.46M 381.96M 303.54M 148.46M 121.01M 205.92M 178.53M 191.55M -168.13M -103.64M -139.38M -135.66M
Tangible Book Value 1,974,393,456.94 713,199,047.17 1,078,614,842.25 565,284,453.00 573,387,029.48 440,608,005.96 419,144,482.01 725,460,188.92 657,370,596.72 349,480,794.80 283,844,560.87 400,212,525.34 376,426,931.05 343,448,597.54 250,569,346.37 160,390,495.55 261,323,849.40 394,842,029.41 469,211,229.29 373,458,008.69 381,958,983.19 303,535,780.18 148,459,429.05 121,012,509.16 205,924,766.76 178,527,147.52 191,550,096.24 -168,130,925.18 -103,644,530.08 -139,375,811.67 -135,656,184.85
Total Investments 668.24M 1,054.31M 1,201.81M 891.79M 914.53M 609.10M 555.46M 534.12M 503.57M 448.72M 381.02M 458.78M 446.04M 363.33M 531.57M 599.16M 405.32M 386.97M 428.28M 384.02M 468.66M 300.45M 225.67M 112.99M 444.62M 63.48M 78.14M 0.56M 0.94M 10.40M 39.00M
Net Debt 2,176.74M 231.05M 186.23M 29.42M -77.56M -107.53M -128.55M -67.90M -76.95M -275.32M -323.69M -165.29M -283.78M -289.73M -52.52M -76.68M -13.26M -22.07M -12.39M -50.55M -61.51M -69.00M -47.00M -20.82M 213.82M 240.48M 130.94M 110.91M 222.90M 188.89M 202.56M

Industry Capital Metrics

Metric MRQ 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 1995
Working Capital 139.93M 124.62M 344.46M 559.41M 552.63M 759.76M 625.13M 675.85M 774.99M 657.70M 698.37M 657.08M 640.20M 720.11M 321.74M 260.21M 349.77M 184.99M 141.10M 65.69M 565.20M 233.61M 229.28M 16.67M 35.98M 39.50M -143.54M -104.80M 94.81M 51.53M 36.02M
Total Capital 7,669.98M 2,607.08M 2,463.23M 2,068.51M 1,840.13M 1,326.01M 1,291.43M 1,191.74M 1,304.91M 1,032.99M 1,078.02M 902.65M 862.94M 775.93M 762.46M 671.15M 616.40M 731.88M 765.14M 650.01M 615.51M 484.41M 385.56M 200.79M 766.88M 718.47M 606.92M 467.55M 750.32M 686.08M 592.04M
Capital Employed 16,454.28M 3,946.88M 3,935.74M 3,983.71M 3,775.12M 3,552.55M 2,919.41M 2,082.76M 2,707.60M 1,850.57M 2,585.88M 2,193.80M 1,953.17M 1,955.61M 1,881.33M 1,528.85M 1,473.55M 1,853.29M 1,401.03M 1,215.82M 997.46M 1,101.17M 1,227.85M 319.08M 914.56M 841.27M 826.12M 784.16M 904.87M 859.19M 731.91M
Invested Capital 7,071.04M 2,045.94M 2,026.71M 1,587.79M 1,333.47M 830.74M 860.48M 803.44M 844.00M 521.36M 600.23M 491.44M 338.95M 322.05M 606.24M 549.74M 490.10M 622.10M 702.31M 591.87M 552.83M 414.33M 333.25M 173.14M 704.65M 685.77M 570.26M 435.67M 742.85M 680.22M 583.06M

Industry Cash Flow

Metric TTM 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 1995
Depreciation & Amortization 70.06M 19.34M 18.50M 18.53M 16.82M 15.90M 14.39M 12.16M 11.07M 9.20M 5.66M 9.67M 7.39M 9.51M 6.56M 11.77M 12.46M 21.24M 14.80M 7.71M 6.04M 11.11M 10.59M 8.58M 95.14M 82.64M 112.45M 110.31M 97.99M 79.68M 77.31M
Deferred Income Tax 0.06M 0.00M -0.75M -4.47M 0.21M -2.41M -0.99M -0.19M -0.59M -0.02M 0.07M 0.26M 0.00M 0.00M 0.00M 0.00M -0.33M 0.00M 0.00M -3.80M 0.00M 0.00M 0.00M -0.03M 1.16M 7.09M 4.10M -12.31M 0.11M 0.32M 5.63M
Stock-Based Compensation 20.02M 3.18M 5.95M 5.39M 5.19M 4.43M 5.35M 6.16M 8.54M 6.04M 4.32M 3.71M 4.86M 2.82M 0.18M 0.35M 0.33M 0.09M 0.00M 0.01M 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 -36.03M 2.37M -5.41M -15.92M -18.59M 8.06M -4.17M -11.22M -0.38M -2.77M -11.75M -3.66M -2.82M 4.97M -16.12M 10.32M 16.86M -5.10M 27.31M 44.10M 51.46M 3.42M 4.72M 7.09M 29.40M -42.64M -35.23M -7.49M -100.54M 16.97M -30.74M
Accounts Receivable -17.25M -20.06M -1.71M -3.14M -1.37M -0.73M -4.05M -16.44M -7.30M -8.77M -4.42M -1.65M -8.14M -0.07M 0.00M -4.87M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.04M 0.00M 0.55M 0.04M 0.07M -0.23M 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 0.00M 0.00M 0.00M -2.63M 1.60M -6.90M 1.33M -10.27M
Accounts Payable 16.29M 0.00M 0.06M 0.02M 0.02M 0.65M 0.09M 0.00M 1.02M 0.51M 0.00M 0.00M 0.00M 0.00M 0.00M 0.07M 0.00M 0.00M 0.00M 0.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.06M 0.03M -0.10M 0.00M 0.03M 0.00M
Other Working Capital 44.77M 15.73M -1.94M -4.53M -4.71M -1.76M -3.63M 3.70M 15.12M 4.50M 5.37M -2.69M -1.35M 0.00M 0.45M 0.68M -0.07M 1.89M 1.13M 0.16M 0.00M -0.46M 1.44M 0.04M 29.40M -42.70M -33.18M -9.04M -93.70M 15.83M -20.40M
Other Non-Cash Items 85.64M 11.08M 3.80M 29.43M -33.71M 7.70M 6.02M 10.96M 18.24M -3.94M -14.82M -11.48M -20.10M -2.00M 31.44M -8.68M 0.00M -7.54M -17.10M -71.02M -15.04M -3.29M 1.47M 3.95M 44.44M 5.95M 2.34M 30.92M 32.63M -107.02M 5.70M
Net Cash from Operating Activities 767.21M 134.36M 114.28M 147.43M 164.40M 140.74M 137.75M 94.17M 189.14M 137.26M 112.75M 162.46M 87.28M 223.09M 98.77M 87.90M 188.15M 118.08M 147.29M 140.95M 146.84M 153.13M 66.75M 46.18M 299.58M 161.73M 263.41M 274.66M 125.18M 153.72M 143.91M
Capital Expenditures (PPE) -24.09M -16.16M -17.24M -16.67M -9.98M -11.41M -10.72M -11.55M -7.73M -6.62M -4.63M -3.64M -9.02M -8.86M -8.02M -6.21M -12.05M -13.41M -12.26M -6.92M -8.40M -6.40M -5.53M -5.84M -9.51M -7.23M -66.53M -64.88M -41.00M -21.27M -20.34M
Acquisitions (Net) -0.28M 0.00M -0.24M -0.31M -3.49M 0.06M -2.13M -2.78M -5.50M 0.02M -0.68M -0.99M -0.13M -0.39M 0.00M -8.54M 0.00M -3.59M -0.16M -0.32M -3.62M -0.44M -0.39M -0.26M -6.08M -4.71M -0.14M 6.63M 0.00M 0.00M 0.00M
Purchases of Investments -188.26M -140.74M -86.49M -99.97M -236.64M -198.10M -80.54M -84.30M -50.96M -91.52M -62.49M -63.75M -25.90M -36.81M -49.54M -36.67M -50.62M -58.88M -76.58M -58.82M -76.31M -42.97M -6.80M -4.75M -6.70M -12.94M -12.13M -19.81M -6.72M -6.80M -47.61M
Sales / Maturities of Investments 82.89M 71.14M 54.67M 81.18M 51.47M 60.82M 71.96M 100.48M 79.71M 130.19M 56.00M 78.57M 49.47M 37.33M 49.31M 32.29M 50.81M 12.75M 36.28M 21.24M 34.19M 4.75M 0.09M 3.76M 50.47M 14.31M 9.00M 16.49M 16.22M 32.50M 5.55M
Other Investing Activities -15.80M -1.25M -7.54M -1.24M 2.84M -1.14M -2.69M 0.37M -0.78M 3.85M -0.81M -3.30M -0.11M 4.05M 0.97M 2.04M 0.79M -0.01M 0.85M 2.88M 1.81M 41.77M 5.83M -1.17M -7.62M -13.45M -60.07M -48.23M -35.36M -58.29M -45.30M
Net Cash from Investing Activities 38.47M -18.39M -57.54M -90.70M -87.95M -44.82M -41.12M -32.68M -45.01M 0.32M -26.49M -61.78M -0.35M 2.68M -44.87M -51.37M -18.87M -51.23M -49.97M -22.90M -40.25M -26.84M -5.47M -60.11M -39.70M -21.14M -129.87M -109.81M -66.86M -53.85M -107.71M
Net Debt Issuance -15.84M -8.79M 6.09M 50.23M 9.27M 7.05M -2.27M 19.90M 7.44M -2.55M 19.88M 2.97M 16.20M -3.67M -4.47M 9.45M 0.08M 6.70M 92.40M 20.25M 0.29M -5.14M -1.76M -3.31M 2.25M 162.22M 25.56M -17.84M 11.30M -45.50M -5.87M
Long-Term Debt Issuance -3.76M -0.53M -2.31M 15.48M 13.76M 8.70M 0.09M 10.65M 7.32M -1.68M 17.73M 3.58M 15.89M -8.31M -4.01M 4.24M 2.09M -0.96M 84.64M 2.35M 1.48M -0.49M -1.77M -3.31M 2.25M 162.22M 25.56M -17.84M 20.24M -16.61M -43.27M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -8.94M -28.89M 37.40M
Net Stock Issuance -9.76M -13.44M -12.66M -11.06M -0.91M -3.32M -8.86M -4.34M -4.85M -2.19M -15.21M -1.73M -10.63M -3.36M -7.03M -3.98M -5.22M -19.49M -22.99M -10.63M 0.23M -3.17M 0.23M 0.00M -45.01M -48.92M -84.39M -66.32M -19.94M -15.38M 8.53M
Common Stock Issuance 1.38M 0.74M 0.56M 1.03M 8.93M 1.79M 2.12M 11.09M 7.85M 19.62M 1.50M 10.77M 5.36M 19.61M 3.57M 12.75M 4.67M 13.31M 20.04M 4.73M 3.21M 3.03M 0.91M 1.15M 26.24M 12.25M 23.99M 15.85M 6.80M 7.23M 11.28M
Common Stock Repurchased -24.47M -14.26M -21.06M -11.87M -3.37M -5.03M -10.30M -7.81M -11.92M -13.53M -24.63M -12.91M -11.55M -12.51M -24.08M -9.65M -8.36M -20.27M -24.47M -11.01M -0.27M -3.52M -0.02M -0.03M -70.60M -67.05M -102.98M -81.47M -26.75M -22.11M -0.04M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -175.92M -87.34M -73.34M -65.92M -49.26M -48.56M -53.06M -53.94M -49.62M -31.57M -39.35M -35.76M -53.39M -26.33M -19.83M -24.69M -26.13M -23.61M -29.99M -22.97M -15.78M -15.41M -10.39M -9.45M -15.67M -9.82M -79.82M -75.88M -51.02M -46.66M -41.97M
Common Dividends Paid -153.92M -86.34M -72.72M -53.55M -48.59M -48.17M -52.99M -53.13M -49.47M -31.37M -39.03M -32.42M -53.34M -27.24M -18.82M -23.63M -22.80M -34.11M -23.96M -25.94M -15.78M -15.41M -10.39M -9.45M -15.67M -9.82M -79.82M -75.88M -51.02M -46.66M -41.97M
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
Other Financing Activities 2.78M -3.64M -11.41M -7.13M -2.56M -3.39M -0.24M -5.45M -4.55M 6.35M 5.08M 10.82M -0.52M -3.41M 1.06M 5.25M -1.18M 11.56M -0.68M 5.63M 0.45M -0.61M 0.14M -0.45M 3.40M 2.32M 14.47M 8.37M -0.90M 1.16M 2.06M
Net Cash from Financing Activities -335.87M -55.38M -148.37M -36.04M 23.26M -14.15M -67.35M -91.51M -16.26M -25.97M -22.80M 21.23M -33.69M -44.02M -91.95M -25.97M -43.72M -12.90M -56.90M -20.76M -21.81M -33.12M -4.09M -27.11M -94.91M 55.51M -130.51M -162.99M -60.56M -106.38M -37.25M
Effect of FX on Cash -5.92M 0.13M -0.20M -0.36M -0.96M -0.64M -0.02M -0.30M 1.99M -0.01M -0.76M 0.03M -0.08M 0.21M -0.04M -2.12M 0.09M -1.36M 0.02M -0.01M 0.01M 0.00M 0.00M 0.65M 0.16M 0.02M -0.50M -0.78M -0.50M -0.10M -0.73M
Net Change in Cash 71.50M 25.75M -72.32M -39.79M 4.90M 73.03M 15.17M -8.88M 56.42M 46.84M 21.95M 36.54M 41.61M 91.95M -22.09M 31.97M 35.51M -7.13M 2.50M 52.44M 74.96M -0.76M 58.30M 23.09M 28.69M 25.16M 4.79M 5.91M 1.50M -3.06M 2.26M
Cash at Beginning of Period 442.77M 505.11M 579.57M 597.76M 713.66M 468.42M 433.56M 370.13M 512.74M 437.80M 435.82M 515.16M 242.80M 233.54M 294.08M 177.24M 121.49M 141.01M 147.32M 241.29M 208.01M 160.98M 87.44M 44.50M 32.69M 10.69M 31.88M 25.97M 5.82M 8.94M 6.65M
Cash at End of Period 930.18M 578.64M 497.64M 482.05M 562.86M 524.52M 474.85M 410.73M 465.64M 513.01M 485.06M 412.56M 529.87M 459.63M 260.64M 292.83M 170.21M 131.16M 154.45M 269.56M 252.92M 215.46M 164.64M 87.44M 62.23M 32.69M 36.66M 31.88M 7.32M 5.89M 8.91M
Operating Cash Flow 727.08M 134.36M 174.44M 96.07M 179.84M 155.33M 137.75M 94.17M 189.14M 137.26M 111.97M 162.46M 87.28M 223.09M 98.77M 87.90M 188.15M 118.08M 147.29M 140.95M 146.84M 153.13M 66.75M 46.18M 299.58M 161.73M 263.41M 274.66M 125.18M 153.72M 143.91M
Capital Expenditure -24.60M -17.72M -12.35M -16.92M -13.20M -11.41M -10.76M -11.55M -7.82M -6.72M -4.63M -3.64M -9.02M -8.86M -8.02M -6.03M -12.04M -13.41M -12.26M -6.92M -8.40M -6.40M -5.53M -5.84M -9.51M -7.23M -66.53M -64.88M -41.00M -21.27M -20.34M
Free Cash Flow 717.09M 130.96M 168.06M 91.91M 172.32M 145.08M 122.05M 69.99M 166.83M 125.09M 98.85M 159.17M 75.45M 198.47M 88.09M 85.03M 163.34M 114.51M 135.88M 119.85M 126.41M 142.11M 56.14M 29.93M 269.94M 137.39M 196.88M 209.79M 84.19M 132.45M 123.57M

Industry Free Cash Flow

Metric TTM 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 1995
EBITDA 641.51M 156.58M 174.38M 171.27M 292.40M 160.82M 108.65M 86.82M 82.19M 103.92M 95.45M 73.16M 56.72M 58.55M 69.59M 60.41M 30.01M 20.69M 113.97M 110.78M 126.15M 73.35M 60.97M 66.08M 342.77M 310.40M 321.48M 275.50M 263.49M 226.86M 214.27M
(-) Tax Adjustment 159.83M 22.93M 28.38M 23.83M 24.70M 18.86M 26.26M 17.06M 6.96M 14.93M 9.73M 11.94M 7.47M 9.67M 10.32M 4.64M 2.08M 3.92M 9.34M 7.50M 9.81M 7.06M 19.16M 27.36M 147.17M 127.23M 131.05M 109.82M 105.67M 91.19M 92.70M
(-) Change In Working Capital -36.03M 2.37M -5.41M -15.92M -18.59M 8.06M -4.17M -11.22M -0.38M -2.77M -11.75M -3.66M -2.82M 4.97M -16.12M 10.32M 16.86M -5.10M 27.31M 44.10M 51.46M 3.42M 4.72M 7.09M 29.40M -42.64M -35.23M -7.49M -100.54M 16.97M -30.74M
(-) Capital Expenditure 24.60M 17.72M 12.35M 16.92M 13.20M 11.41M 10.76M 11.55M 7.82M 6.72M 4.63M 3.64M 9.02M 8.86M 8.02M 6.03M 12.04M 13.41M 12.26M 6.92M 8.40M 6.40M 5.53M 5.84M 9.51M 7.23M 66.53M 64.88M 41.00M 21.27M 20.34M
Unlevered Free Cash Flow 493.10M 113.56M 139.07M 146.45M 273.09M 122.49M 75.80M 69.43M 67.79M 85.04M 92.83M 61.23M 43.05M 35.05M 67.37M 39.43M -0.96M 8.46M 65.07M 52.26M 56.47M 56.48M 31.57M 25.79M 156.69M 218.59M 159.13M 108.29M 217.36M 97.43M 131.96M
(-) Net Interest Income After Taxes -18.00M -15.16M -23.85M -16.46M -10.68M -7.96M -7.72M -1.70M 1.11M -4.41M -2.64M -0.75M -1.40M -2.58M -8.41M -1.48M -11.40M -9.72M -1.17M 1.55M 2.26M 0.15M -0.60M 0.05M -3.16M -2.17M -7.00M -2.58M -0.35M -0.38M -0.27M
Net Debt Issuance -15.84M -8.79M 6.09M 50.23M 9.27M 7.05M -2.27M 19.90M 7.44M -2.55M 19.88M 2.97M 16.20M -3.67M -4.47M 9.45M 0.08M 6.70M 92.40M 20.25M 0.29M -5.14M -1.76M -3.31M 2.25M 162.22M 25.56M -17.84M 11.30M -45.50M -5.87M
Levered Free Cash Flow 495.27M 119.93M 169.01M 213.14M 293.05M 137.51M 81.25M 91.03M 74.12M 86.90M 115.35M 64.95M 60.65M 33.95M 71.30M 50.35M 10.51M 24.88M 158.63M 70.96M 54.50M 51.19M 30.41M 22.44M 162.10M 382.98M 191.69M 93.03M 229.01M 52.31M 126.37M