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Definitive Analysis

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Page: Industry Financials

4421.T

Industry Analysis

Master Data Export

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 30.01 31.08 34.71 31.44 38.72 30.65 27.00 23.15 21.96 17.35 15.70 14.07 13.54 9.05 7.54 8.25 7.04 5.52 7.83 7.68 6.91 6.35 6.10 5.38 7.98 6.47 9.84 10.02 9.93 8.24 6.37
Market Capitalization 6,510.72M 4,700.05M 4,000.06M 3,785.12M 4,363.91M 3,872.62M 3,353.62M 2,841.72M 2,594.86M 2,298.68M 2,289.10M 1,794.84M 1,532.93M 1,048.38M 912.75M 966.13M 687.53M 625.91M 861.26M 731.39M 613.28M 495.97M 363.82M 283.92M 529.34M 480.97M 439.54M 445.99M 506.13M 536.18M 445.34M
(-) Cash & Equivalents 383.67M 470.17M 413.40M 388.94M 432.24M 409.10M 288.41M 212.37M 222.28M 199.56M 154.90M 155.70M 167.74M 119.94M 93.37M 104.95M 102.94M 81.34M 81.78M 62.32M 49.94M 29.95M 24.05M 22.72M 26.06M 23.29M 18.23M 19.66M 23.52M 28.38M 19.85M
(+) Total Debt 1,124.50M 1,046.27M 1,006.64M 990.52M 1,085.93M 993.31M 725.36M 681.66M 602.13M 438.89M 272.36M 264.00M 222.93M 168.22M 127.82M 99.24M 99.98M 93.09M 89.01M 51.73M 51.51M 39.55M 21.92M 11.79M 26.97M 28.05M 26.24M 24.56M 28.30M 22.83M 91.83M
Enterprise Value 7,304,460,220.42 5,544,053,387.48 5,118,093,389.93 5,072,858,442.18 5,459,412,857.34 4,608,652,495.94 4,117,200,246.32 3,207,820,310.39 2,922,840,158.19 2,686,985,960.16 2,499,883,765.92 2,213,156,433.89 2,081,629,694.28 1,166,690,269.70 925,595,110.57 993,774,092.31 708,151,644.90 655,639,748.04 890,621,167.35 731,349,191.50 606,771,459.18 501,675,945.30 354,396,402.39 278,761,027.03 510,571,433.40 490,611,891.43 432,482,409.32 377,982,894.16 407,477,517.07 501,014,755.66 515,856,227.29

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 4,247.93M 3,804.17M 3,423.70M 3,296.80M 3,089.15M 2,894.51M 2,684.05M 2,475.85M 2,304.96M 2,084.15M 1,628.02M 1,469.39M 1,527.45M 1,036.31M 892.90M 988.10M 837.16M 833.89M 704.84M 493.27M 407.03M 250.19M 191.53M 144.12M 219.92M 251.33M 234.36M 216.92M 278.55M 265.86M 218.15M
Cost of Revenue 3,169.64M 2,805.74M 2,720.11M 2,545.48M 2,340.07M 2,173.76M 1,971.29M 1,798.51M 1,663.32M 1,501.89M 1,269.42M 1,147.24M 1,092.10M 720.97M 593.00M 632.81M 543.78M 559.10M 406.99M 325.83M 264.58M 160.36M 121.97M 82.53M 151.92M 118.79M 101.31M 114.06M 100.87M 91.62M 150.30M
Gross Profit 1,078.29M 998.43M 703.59M 751.32M 749.08M 720.75M 712.76M 677.33M 641.65M 582.27M 358.59M 322.15M 435.36M 315.34M 299.90M 355.29M 293.39M 274.79M 297.85M 167.43M 142.45M 89.83M 69.56M 61.59M 68.00M 132.54M 133.05M 102.86M 177.67M 174.24M 67.85M
Gross Margin 25.4% 26.2% 20.6% 22.8% 24.2% 24.9% 26.6% 27.4% 27.8% 27.9% 22.0% 21.9% 28.5% 30.4% 33.6% 36.0% 35.0% 33.0% 42.3% 33.9% 35.0% 35.9% 36.3% 42.7% 30.9% 52.7% 56.8% 47.4% 63.8% 65.5% 31.1%
R&D Expenses 10.83M 14.33M 11.91M 13.89M 12.19M 14.60M 12.13M 12.72M 11.57M 10.94M 13.63M 8.37M 7.30M 2.60M 0.72M 0.94M 0.03M 0.19M 0.70M 0.43M 0.20M 0.47M 0.07M 0.14M 0.40M 0.23M 0.19M 0.38M 0.43M 0.18M 0.00M
SG&A Expenses 392.74M 350.58M 332.95M 341.76M 321.68M 303.81M 284.98M 276.55M 247.85M 203.24M 187.78M 184.67M 188.21M 117.27M 109.65M 109.41M 81.22M 79.58M 62.20M 51.46M 42.17M 33.97M 26.88M 21.68M 32.32M 42.00M 39.74M 35.55M 48.92M 43.61M 78.18M
Operating Expenses 403.56M 364.91M 344.86M 355.64M 333.87M 318.41M 297.11M 289.27M 259.42M 214.18M 201.41M 193.03M 195.51M 119.87M 110.37M 110.35M 81.26M 79.77M 62.90M 51.89M 42.37M 34.43M 26.95M 21.83M 32.72M 42.23M 39.94M 35.92M 49.35M 43.79M 78.18M
Operating Income 674.73M 633.51M 358.73M 395.68M 415.20M 402.34M 415.65M 388.07M 382.23M 368.09M 157.18M 129.11M 239.85M 195.47M 189.53M 244.94M 212.13M 195.03M 234.95M 115.54M 100.08M 55.40M 42.60M 39.76M 35.28M 90.32M 93.12M 66.94M 128.33M 130.45M -10.33M
Operating Margin 15.9% 16.7% 10.5% 12.0% 13.4% 13.9% 15.5% 15.7% 16.6% 17.7% 9.7% 8.8% 15.7% 18.9% 21.2% 24.8% 25.3% 23.4% 33.3% 23.4% 24.6% 22.1% 22.2% 27.6% 16.0% 35.9% 39.7% 30.9% 46.1% 49.1% -4.7%
Interest Income 7.72M 11.49M 8.86M 4.53M 2.90M 3.10M 4.60M 3.61M 2.70M 2.58M 2.32M 2.06M 2.45M 1.92M 1.63M 1.49M 1.63M 1.97M 0.90M 0.31M 0.22M 0.15M 0.07M 0.06M 0.07M 0.06M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Expense 48.65M 46.80M 42.55M 31.72M 29.34M 31.53M 26.97M 21.99M 17.68M 13.31M 10.85M 11.77M 9.99M 8.32M 7.14M 6.00M 5.59M 6.14M 3.00M 1.51M 1.54M 0.81M 0.61M 0.38M 0.43M 0.46M 0.23M 0.26M 0.12M 0.23M 0.17M
Net Interest Income -40.93M -35.31M -33.68M -27.18M -26.45M -28.43M -22.37M -18.38M -14.98M -10.73M -8.53M -9.71M -7.54M -6.40M -5.51M -4.51M -3.96M -4.17M -2.10M -1.20M -1.32M -0.66M -0.54M -0.32M -0.36M -0.40M -0.23M -0.26M -0.12M -0.23M -0.17M
Other Income / Expense -344.99M -345.26M -122.95M -115.80M -155.46M -229.20M -220.85M -217.43M -225.49M -220.30M -36.51M -14.02M -129.25M -109.85M -116.71M -179.24M -162.78M -141.16M -180.13M -66.60M -66.88M -35.40M -30.86M -29.31M -18.90M -66.64M -67.66M -36.13M -113.00M -108.22M 19.23M
Pre-Tax Income 288.81M 252.95M 202.10M 252.70M 233.30M 144.72M 172.44M 152.26M 141.76M 137.06M 112.15M 105.39M 103.07M 79.21M 67.32M 61.18M 45.39M 49.70M 52.73M 47.74M 31.88M 19.33M 11.20M 10.13M 16.02M 23.27M 25.23M 30.55M 15.20M 22.00M 8.73M
Pre-Tax Margin 6.8% 6.6% 5.9% 7.7% 7.6% 5.0% 6.4% 6.1% 6.2% 6.6% 6.9% 7.2% 6.7% 7.6% 7.5% 6.2% 5.4% 6.0% 7.5% 9.7% 7.8% 7.7% 5.8% 7.0% 7.3% 9.3% 10.8% 14.1% 5.5% 8.3% 4.0%
Income Tax Expense 79.75M 56.19M 61.84M 54.68M 55.92M 40.72M 40.26M 33.94M 36.71M 29.35M 29.27M 27.36M 32.12M 28.06M 17.74M 17.35M 11.93M 16.53M 15.60M 10.17M 8.13M 2.90M 3.68M 1.45M 2.71M 8.30M 6.17M 11.44M 10.06M 11.63M 3.16M
Tax Rate 27.6% 22.2% 30.6% 21.6% 24.0% 28.1% 23.3% 22.3% 25.9% 21.4% 26.1% 26.0% 31.2% 35.0% 26.4% 28.4% 26.3% 33.3% 29.6% 21.3% 25.5% 15.0% 32.9% 14.3% 16.9% 35.0% 24.5% 35.0% 35.0% 35.0% 35.0%
Net Income 209.06M 196.76M 140.26M 198.01M 177.38M 103.99M 132.17M 118.32M 105.04M 107.71M 82.88M 78.03M 70.95M 51.15M 49.57M 43.83M 33.46M 33.16M 37.13M 37.56M 23.74M 16.44M 7.52M 8.69M 13.31M 14.98M 19.05M 19.10M 5.14M 10.36M 5.57M
Net Margin 4.9% 5.2% 4.1% 6.0% 5.7% 3.6% 4.9% 4.8% 4.6% 5.2% 5.1% 5.3% 4.6% 4.9% 5.6% 4.4% 4.0% 4.0% 5.3% 7.6% 5.8% 6.6% 3.9% 6.0% 6.1% 6.0% 8.1% 8.8% 1.8% 3.9% 2.6%
EBIT 674.73M 633.51M 358.73M 395.68M 415.20M 402.34M 415.65M 388.07M 382.23M 368.09M 157.18M 129.11M 239.85M 195.47M 189.53M 244.94M 212.13M 195.03M 234.95M 115.54M 100.08M 55.40M 42.60M 39.76M 35.28M 90.32M 93.12M 66.94M 128.33M 130.45M -10.33M
Depreciation & Amortization 141.88M 129.00M 123.11M 125.61M 121.12M 115.53M 94.98M 87.88M 77.96M 58.40M 49.60M 45.44M 43.38M 38.73M 32.68M 34.18M 29.81M 27.96M 23.47M 15.52M 13.43M 10.03M 8.74M 8.16M 10.42M 10.83M 10.12M 8.65M 8.71M 8.41M 14.92M
EBITDA 816.61M 762.52M 481.85M 521.29M 536.33M 517.87M 510.63M 475.94M 460.19M 426.48M 206.78M 174.56M 283.23M 234.20M 222.21M 279.12M 241.94M 222.99M 258.42M 131.06M 113.51M 65.43M 51.35M 47.93M 45.70M 101.14M 103.23M 75.59M 137.04M 138.86M 4.59M
EBITDA Margin 19.2% 20.0% 14.1% 15.8% 17.4% 17.9% 19.0% 19.2% 20.0% 20.5% 12.7% 11.9% 18.5% 22.6% 24.9% 28.2% 28.9% 26.7% 36.7% 26.6% 27.9% 26.2% 26.8% 33.3% 20.8% 40.2% 44.0% 34.8% 49.2% 52.2% 2.1%
NOPAT 488.42M 492.79M 248.97M 310.05M 315.69M 289.12M 318.60M 301.57M 283.24M 289.27M 116.16M 95.59M 165.11M 127.05M 139.57M 175.47M 156.39M 130.15M 165.43M 90.92M 74.55M 47.10M 28.61M 34.09M 29.31M 58.70M 70.34M 43.51M 83.41M 84.79M -6.71M
NOPAT Margin 11.5% 13.0% 7.3% 9.4% 10.2% 10.0% 11.9% 12.2% 12.3% 13.9% 7.1% 6.5% 10.8% 12.3% 15.6% 17.8% 18.7% 15.6% 23.5% 18.4% 18.3% 18.8% 14.9% 23.7% 13.3% 23.4% 30.0% 20.1% 29.9% 31.9% -3.1%
Owner's Earnings 350.94M 325.76M 263.37M 323.63M 298.51M 219.52M 227.15M 206.20M 183.00M 166.11M 132.48M 123.47M 114.34M 89.88M 82.26M 78.01M 63.27M 61.13M 60.60M 53.08M 37.17M 26.47M 16.26M 16.85M 23.73M 25.80M 29.17M 27.75M 13.85M 18.78M 20.49M
Owner's Earnings Margin 8.3% 8.6% 7.7% 9.8% 9.7% 7.6% 8.5% 8.3% 7.9% 8.0% 8.1% 8.4% 7.5% 8.7% 9.2% 7.9% 7.6% 7.3% 8.6% 10.8% 9.1% 10.6% 8.5% 11.7% 10.8% 10.3% 12.4% 12.8% 5.0% 7.1% 9.4%
EPS 0.77 0.71 0.54 0.77 0.69 0.40 0.52 0.49 0.41 0.41 0.37 0.33 0.33 0.25 0.25 0.23 0.18 0.22 0.21 0.21 0.13 0.09 0.05 0.07 0.08 0.07 0.11 0.14 0.03 0.07 0.03
EPS (Diluted) 0.77 0.71 0.54 0.77 0.69 0.40 0.52 0.49 0.41 0.41 0.37 0.33 0.33 0.25 0.25 0.23 0.18 0.22 0.21 0.21 0.13 0.09 0.05 0.07 0.08 0.07 0.11 0.14 0.03 0.07 0.03
Shares (Diluted) 273.15M 276.34M 258.04M 256.23M 258.73M 260.07M 255.64M 243.23M 257.49M 261.50M 224.27M 239.70M 216.89M 206.66M 195.92M 194.08M 182.60M 154.05M 177.89M 177.98M 178.97M 175.10M 153.36M 126.49M 164.71M 202.76M 168.51M 141.25M 163.03M 148.67M 197.34M

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 440.53M 470.14M 413.37M 386.07M 432.24M 418.49M 288.41M 215.77M 223.97M 199.56M 154.90M 155.70M 169.04M 121.88M 93.37M 105.78M 102.94M 82.04M 81.78M 62.32M 49.94M 30.23M 24.28M 23.25M 26.63M 21.39M 18.23M 19.66M 24.11M 30.89M 19.85M
Short-Term Investments 84.80M 47.20M 82.18M 53.11M 146.33M 131.73M 84.22M 73.62M 56.99M 34.05M 57.27M 57.06M 53.17M 66.81M 48.30M 38.58M 25.49M 21.34M 25.14M 10.56M 8.41M 16.75M 6.07M 1.53M 2.78M 5.86M 2.48M 4.08M 0.06M 1.88M 0.13M
Cash & Short-Term Investments 525.32M 517.33M 495.54M 439.18M 578.57M 550.22M 372.63M 289.39M 280.96M 233.60M 212.17M 212.76M 222.22M 188.69M 141.66M 144.36M 128.44M 103.38M 106.92M 72.88M 58.34M 46.97M 30.35M 24.78M 29.41M 27.25M 20.71M 23.75M 24.17M 32.77M 19.98M
Net Receivables 848.31M 751.83M 734.69M 670.48M 616.80M 601.71M 572.73M 581.01M 516.81M 445.14M 375.12M 346.08M 299.74M 242.34M 197.29M 182.77M 184.76M 167.36M 141.56M 116.51M 90.83M 40.20M 31.01M 36.35M 50.55M 38.68M 39.66M 41.49M 56.29M 49.26M 44.47M
Inventory 63.99M 60.24M 69.54M 99.53M 76.23M 43.24M 53.11M 51.81M 60.15M 52.37M 30.59M 33.64M 33.77M 34.32M 23.21M 25.95M 22.40M 25.68M 22.01M 13.25M 10.09M 7.52M 5.34M 4.05M 6.92M 6.41M 6.67M 6.05M 12.40M 14.25M 21.71M
Other Current Assets 183.31M 114.49M 150.79M 120.04M 133.48M 124.13M 116.63M 142.13M 106.79M 87.39M 63.64M 52.27M 49.54M 48.51M 53.25M 52.28M 38.45M 34.59M 35.30M 17.31M 11.99M 13.28M 13.00M 7.19M 7.82M 10.19M 20.10M 14.84M 26.24M 24.60M 22.20M
Total Current Assets 1,620.94M 1,443.88M 1,450.56M 1,329.23M 1,405.09M 1,319.29M 1,115.10M 1,064.34M 964.72M 818.50M 681.52M 644.74M 605.26M 513.87M 415.40M 405.35M 374.04M 331.01M 305.79M 219.95M 171.25M 107.98M 79.70M 72.37M 94.70M 82.53M 87.13M 86.13M 119.10M 120.87M 108.36M
Property, Plant & Equipment 330.55M 303.50M 307.46M 310.53M 342.85M 306.30M 254.36M 168.10M 151.76M 148.53M 134.31M 135.92M 112.55M 103.13M 83.54M 81.22M 77.93M 71.44M 68.81M 55.36M 46.96M 34.06M 28.71M 23.40M 30.23M 31.72M 37.31M 35.76M 61.26M 69.52M 56.37M
Goodwill 831.51M 717.22M 709.20M 684.55M 633.49M 610.97M 530.31M 486.32M 353.28M 289.01M 205.97M 189.61M 175.28M 153.66M 145.28M 83.76M 74.67M 58.76M 45.02M 23.51M 11.12M 1.30M 0.22M 0.03M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 365.22M 252.72M 248.14M 263.12M 254.01M 210.11M 209.49M 174.37M 137.54M 112.11M 107.26M 90.71M 88.99M 40.38M 38.15M 23.60M 26.55M 28.50M 28.64M 15.45M 16.11M 13.24M 14.63M 9.21M 7.38M 4.43M 15.66M 9.36M 7.50M 20.07M 12.47M
Long-Term Investments 74.07M 45.23M 50.56M 37.06M 46.49M 44.00M 45.46M 35.32M 24.32M 21.26M 19.68M 23.03M 18.34M 9.50M 8.24M 7.14M 5.16M 3.44M 3.52M 1.88M 3.03M 0.39M 0.00M 0.05M 0.00M 0.05M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Assets 35.59M 45.35M 31.25M 29.03M 31.41M 35.83M 30.57M 25.02M 23.56M 27.19M 16.04M 13.54M 12.17M 13.60M 15.53M 12.54M 9.69M 7.99M 7.14M 5.57M 3.10M 1.25M 1.19M 0.30M 0.60M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 212.33M 194.94M 158.00M 160.97M 174.93M 163.55M 84.84M 115.53M 90.62M 81.87M 81.04M 81.67M 73.00M 61.43M 45.28M 50.28M 41.13M 37.62M 34.72M 20.88M 14.90M 7.10M 9.14M 7.37M 16.72M 21.48M 17.74M 13.59M 11.68M 80.64M 17.44M
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
Total Non-Current Assets 1,849.26M 1,558.97M 1,504.61M 1,485.27M 1,483.17M 1,370.74M 1,155.02M 1,004.67M 781.09M 679.97M 564.30M 534.48M 480.34M 381.70M 336.01M 258.53M 235.13M 207.75M 187.84M 122.64M 95.22M 57.35M 53.88M 40.35M 54.93M 57.68M 70.71M 58.72M 80.44M 170.23M 86.29M
Total Assets 3,470.21M 3,002.85M 2,955.17M 2,814.50M 2,888.26M 2,690.04M 2,270.11M 2,069.01M 1,745.80M 1,498.47M 1,245.82M 1,179.22M 1,085.61M 895.57M 751.41M 663.88M 609.17M 538.76M 493.63M 342.59M 266.47M 165.32M 133.58M 112.72M 149.64M 140.20M 157.84M 144.85M 199.54M 291.10M 194.65M
Accounts Payable 305.76M 291.66M 279.47M 267.30M 275.53M 251.34M 221.46M 200.33M 177.38M 141.47M 118.58M 103.59M 106.20M 80.58M 71.56M 75.70M 75.74M 71.49M 56.91M 40.20M 31.36M 20.16M 15.30M 10.18M 15.45M 12.43M 19.88M 21.03M 25.32M 22.17M 22.39M
Short-Term Debt 213.68M 100.75M 119.34M 82.96M 93.29M 100.86M 98.36M 84.90M 61.29M 62.17M 46.65M 48.30M 56.94M 38.67M 30.01M 20.34M 20.02M 30.57M 19.53M 11.13M 11.08M 10.96M 5.19M 5.49M 12.78M 12.19M 11.14M 11.16M 10.15M 7.24M 11.75M
Tax Payables 2.64M 39.90M 32.86M 37.64M 36.76M 36.90M 22.25M 23.96M 20.42M 18.34M 11.63M 10.39M 8.84M 6.74M 5.54M 3.99M 3.47M 2.76M 3.89M 3.03M 3.17M 1.43M 0.15M 0.09M 0.09M 0.25M 0.32M 0.08M 0.11M 0.15M 0.15M
Deferred Revenue 72.03M 36.62M 82.50M 113.93M 155.90M 170.38M 108.64M 66.45M 125.57M 92.91M 84.25M 86.44M 64.37M 61.71M 33.60M 28.12M 22.64M 13.26M 16.47M 12.68M 9.00M 7.36M 2.96M 2.13M 4.52M 0.71M 0.46M 0.41M 0.45M 1.19M 0.65M
Other Current Liabilities 300.64M 303.98M 226.64M 230.10M 199.13M 181.53M 191.71M 186.06M 142.36M 119.13M 107.23M 85.38M 100.29M 87.32M 64.89M 56.28M 39.25M 49.77M 52.75M 32.29M 26.51M 20.48M 16.91M 9.37M 16.11M 17.70M 19.15M 20.43M 67.65M 115.97M 223.87M
Total Current Liabilities 894.76M 772.90M 740.82M 731.92M 760.61M 741.02M 642.42M 561.70M 527.03M 434.02M 368.33M 334.10M 336.64M 275.02M 205.59M 184.43M 161.11M 167.85M 149.55M 99.33M 81.12M 60.38M 40.53M 27.26M 48.95M 43.27M 50.95M 53.10M 103.68M 146.73M 258.81M
Long-Term Debt 763.68M 572.04M 647.28M 599.81M 614.77M 526.44M 445.32M 344.90M 340.63M 244.73M 155.52M 122.52M 85.55M 106.13M 56.44M 68.25M 55.64M 35.01M 35.46M 17.61M 20.48M 6.03M 5.37M 3.83M 6.25M 7.28M 11.54M 7.94M 11.04M 11.96M 76.16M
Capital Lease Obligations 77.18M 113.84M 121.46M 121.86M 135.90M 128.62M 58.26M 3.42M 1.81M 1.35M 1.41M 1.14M 0.66M 0.42M 0.39M 0.00M 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 0.00M
Deferred Tax Liabilities 35.35M 34.45M 39.95M 39.27M 36.25M 44.69M 30.63M 34.65M 29.60M 22.07M 14.38M 11.95M 8.07M 5.80M 4.92M 4.37M 2.68M 2.44M 2.02M 2.12M 0.66M 0.14M 0.06M 0.03M 0.03M 0.00M 0.00M 0.00M 0.15M 0.21M 0.03M
Other Non-Current Liabilities 241.89M 114.60M 108.56M 90.44M 98.52M 96.56M 79.95M 81.98M 57.54M 56.46M 45.47M 43.67M 36.78M 21.62M 31.71M 32.56M 25.98M 20.29M 19.65M 15.59M 9.92M 5.49M 4.85M 2.69M 6.22M 2.62M 2.85M 3.04M 3.14M 3.60M 3.12M
Total Non-Current Liabilities 1,118.11M 834.94M 917.25M 851.37M 885.45M 796.32M 614.15M 464.95M 429.59M 324.61M 216.78M 179.27M 131.06M 133.97M 93.46M 105.18M 84.40M 57.74M 57.13M 35.33M 31.06M 11.66M 10.28M 6.54M 12.50M 9.91M 14.39M 10.98M 14.33M 15.76M 79.31M
Total Liabilities 2,012.87M 1,607.84M 1,658.07M 1,583.29M 1,646.06M 1,537.33M 1,256.57M 1,026.65M 956.61M 758.64M 585.11M 513.37M 467.70M 408.99M 299.05M 289.62M 245.51M 225.59M 206.68M 134.66M 112.18M 72.03M 50.80M 33.80M 61.45M 53.18M 65.34M 64.08M 118.01M 162.49M 338.12M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.23M 0.00M 0.00M 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 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 50.78M 40.76M 41.44M 41.28M 47.67M 49.75M 49.93M 46.73M 47.95M 48.48M 44.04M 39.50M 33.66M 30.09M 29.72M 30.10M 36.78M 23.75M 22.05M 19.01M 16.29M 10.53M 9.33M 8.17M 11.26M 8.29M 5.06M 4.94M 4.18M 4.38M 4.15M
Retained Earnings 830.74M 744.72M 801.61M 748.25M 655.46M 656.37M 612.80M 543.91M 355.67M 336.85M 353.97M 404.61M 370.30M 204.80M 209.08M 179.07M 149.16M 124.93M 106.50M 75.27M 54.28M 21.60M 11.71M 13.80M 34.67M 37.61M 29.87M 26.59M 22.85M 19.55M 12.28M
Accumulated OCI 39.87M -8.53M -6.25M -10.49M 0.29M -24.20M -12.91M -13.14M -13.91M -15.14M -9.67M -14.60M -8.34M -7.86M -4.88M -8.40M -8.11M -4.38M -0.36M -0.68M -0.94M -0.38M -0.47M -0.68M -1.13M -1.00M -0.37M -0.79M -2.07M -0.68M 0.00M
Minority Interest 22.63M 18.59M 21.38M 20.99M 23.51M 18.80M 14.73M 14.51M 15.04M 10.91M 8.50M 7.01M 5.90M 5.63M 4.75M 5.22M 4.23M 4.02M 3.62M 3.21M 2.80M 1.82M 0.55M 0.37M 0.30M 0.39M 0.19M 0.04M 0.08M 0.08M 0.10M
Total Shareholders’ Equity 921.39M 776.96M 836.79M 779.04M 703.42M 682.16M 649.82M 577.50M 389.71M 370.21M 388.34M 429.51M 395.62M 227.03M 233.92M 200.78M 177.83M 144.30M 128.19M 93.60M 69.64M 31.75M 20.57M 21.29M 44.81M 44.91M 34.56M 30.74M 24.96M 23.26M 16.43M
Total Equity 944.03M 795.55M 858.17M 800.03M 726.93M 700.95M 664.54M 592.01M 404.75M 381.12M 396.83M 436.52M 401.51M 232.66M 238.67M 206.00M 182.06M 148.32M 131.80M 96.80M 72.45M 33.57M 21.11M 21.67M 45.11M 45.30M 34.75M 30.79M 25.05M 23.34M 16.53M
Total Liabilities & Equity 2,956.89M 2,403.38M 2,516.24M 2,383.32M 2,372.99M 2,238.29M 1,921.11M 1,618.67M 1,361.36M 1,139.75M 981.94M 949.89M 869.22M 641.65M 537.71M 495.61M 427.58M 373.92M 338.49M 231.46M 184.63M 105.61M 71.92M 55.47M 106.56M 98.48M 100.09M 94.86M 143.06M 185.83M 354.65M
Tangible Assets 2,273.48M 2,032.91M 1,997.83M 1,866.83M 2,000.76M 1,868.96M 1,530.32M 1,408.32M 1,254.98M 1,097.35M 932.60M 898.90M 821.33M 701.53M 567.98M 556.53M 507.95M 451.50M 419.98M 303.63M 239.25M 150.78M 118.74M 103.48M 142.25M 135.77M 142.17M 135.48M 192.04M 271.03M 182.18M
Tangible Equity -252.70M -174.39M -99.17M -147.65M -160.57M -120.12M -75.25M -68.68M -86.07M -20.00M 83.61M 156.20M 137.24M 38.62M 55.24M 98.65M 80.85M 61.06M 58.15M 57.84M 45.22M 19.03M 6.27M 12.43M 37.72M 40.87M 19.09M 21.42M 17.54M 3.27M 4.06M
Tangible Book Value -252,696,256.58 -174,388,966.91 -99,166,081.27 -147,645,561.04 -160,572,001.46 -120,121,089.92 -75,252,513.03 -68,678,708.30 -86,069,300.74 -20,002,291.50 83,610,642.77 156,201,130.09 137,243,312.96 38,621,323.25 55,237,613.90 98,645,400.76 80,845,431.22 61,064,426.35 58,147,867.40 57,842,632.36 45,219,824.06 19,033,908.68 6,265,352.79 12,426,768.17 37,720,937.22 40,874,310.74 19,086,544.19 21,422,281.24 17,540,141.65 3,266,810.12 4,057,287.91
Total Investments 163.94M 122.24M 109.78M 96.75M 95.48M 79.49M 87.52M 64.07M 72.58M 52.47M 44.20M 53.26M 52.63M 25.94M 22.85M 18.24M 16.27M 12.71M 13.58M 13.41M 8.84M 4.36M 2.01M 1.53M 1.68M 3.78M 2.72M 0.38M 0.00M 0.12M 0.00M
Net Debt 536.83M 202.65M 353.26M 296.70M 275.82M 208.82M 255.27M 214.03M 177.96M 107.35M 47.26M 15.12M -26.55M 22.92M -6.92M -17.19M -27.28M -16.46M -26.79M -33.57M -18.37M -13.24M -13.72M -13.94M -7.59M -1.91M 4.45M -0.56M -2.92M -11.69M 68.06M

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 467.92M 722.74M 483.21M 499.44M 480.68M 509.62M 356.43M 338.19M 385.89M 315.56M 295.21M 359.72M 203.35M 174.93M 174.70M 185.76M 167.06M 141.78M 139.71M 118.25M 84.13M 67.44M 50.24M 38.61M 49.49M 34.97M 27.75M 31.18M 20.83M -71.47M 58.97M
Total Capital 2,903.85M 2,492.56M 2,382.01M 2,321.75M 2,330.99M 2,294.42M 1,745.07M 1,656.85M 1,445.11M 1,227.17M 919.50M 951.63M 897.41M 661.74M 548.19M 473.39M 419.04M 362.87M 399.95M 307.18M 258.99M 184.38M 142.81M 97.10M 142.16M 136.46M 125.33M 142.54M 157.50M 178.14M 202.64M
Capital Employed 3,597.45M 3,280.11M 3,145.43M 3,153.18M 3,002.81M 2,668.62M 2,031.93M 2,000.09M 1,964.77M 1,656.32M 1,154.07M 1,071.54M 955.62M 716.18M 639.92M 593.93M 548.16M 439.44M 434.61M 307.54M 277.49M 173.48M 145.15M 117.63M 130.11M 141.82M 137.22M 138.35M 154.86M 292.97M 216.05M
Invested Capital 2,463.32M 2,022.42M 1,968.64M 1,935.68M 1,898.75M 1,875.93M 1,456.66M 1,441.08M 1,221.15M 1,027.61M 764.59M 795.93M 728.36M 539.86M 454.82M 367.61M 316.10M 280.84M 318.17M 244.86M 209.05M 154.16M 118.54M 73.85M 115.53M 115.08M 107.09M 122.88M 133.39M 147.25M 182.79M

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 126.55M 134.95M 125.97M 122.47M 125.27M 116.28M 101.01M 86.55M 77.14M 57.11M 49.65M 45.63M 41.59M 38.64M 32.25M 34.13M 29.87M 30.08M 23.58M 15.63M 13.09M 9.38M 8.80M 8.15M 13.01M 10.99M 10.31M 11.02M 74.90M 64.01M 88.65M
Deferred Income Tax 2.20M -1.11M -13.27M -5.68M -8.26M -5.23M -2.92M -1.67M -2.19M 0.60M 0.39M 0.46M 0.66M -0.49M -0.20M -0.69M 0.00M -1.47M 0.00M -0.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.12M -0.04M -0.18M 0.64M 0.30M -0.05M
Stock-Based Compensation 12.91M 17.55M 15.63M 14.92M 14.22M 8.82M 7.38M 7.83M 7.35M 5.64M 5.74M 4.52M 3.78M 2.97M 2.93M 2.37M 1.13M 0.42M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -45.12M -32.91M -49.54M -76.99M -41.25M 20.34M -23.74M -26.27M -23.14M -13.49M -12.50M -34.79M -15.86M -11.92M -14.08M -0.26M 0.75M -9.80M -7.66M -7.45M -1.87M -1.79M 0.08M -0.55M -0.26M -4.60M -1.69M -3.71M -15.59M -9.29M -3.35M
Accounts Receivable -35.67M -37.09M -24.37M -73.19M -34.74M -4.49M -28.78M -30.12M -27.90M -21.20M -5.42M -16.47M -12.89M -5.83M -1.60M -2.91M 0.00M 0.00M 0.00M 0.00M 0.00M -0.38M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -0.64M 1.14M 2.48M -9.75M -5.00M -3.02M -8.28M -2.03M -2.98M -2.80M -1.63M -1.86M -0.98M -1.94M -1.16M -0.22M 0.86M -2.42M -0.53M -0.03M -0.29M -0.19M 0.29M 0.15M -0.08M 0.04M 0.12M -0.05M 0.01M 0.25M -2.40M
Accounts Payable 4.27M 0.65M 5.66M 23.54M 17.60M 10.79M 9.15M 5.93M 10.46M 3.72M 1.26M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -30.03M -8.40M -19.17M -22.05M 1.70M 6.98M -3.33M -12.13M -6.52M -1.64M -2.44M -4.93M 1.19M -3.95M -5.84M 1.37M -3.77M -2.69M -2.77M -2.26M 0.44M 0.79M -0.52M -0.64M -0.88M -2.04M -1.07M -0.89M -1.40M -2.63M -0.25M
Other Non-Cash Items 18.75M 24.26M 45.23M 12.83M -1.66M 20.26M 11.14M 4.74M 0.96M 1.04M 6.63M 2.86M -3.48M 0.98M -1.20M 0.32M -1.84M 0.89M -2.57M -0.85M -1.36M 1.05M 0.58M 2.65M 1.26M -3.23M 0.18M 0.48M 1.03M -2.84M 15.61M
Net Cash from Operating Activities 323.54M 287.57M 294.43M 255.70M 250.46M 291.66M 220.49M 205.35M 143.38M 165.94M 142.89M 113.93M 125.00M 99.72M 80.49M 98.60M 67.82M 67.57M 58.48M 38.30M 35.95M 19.65M 15.51M 21.95M 22.77M 16.00M 23.76M 10.57M 67.60M 45.94M 20.13M
Capital Expenditures (PPE) -62.00M -51.47M -71.89M -64.84M -57.46M -61.94M -66.01M -61.76M -51.41M -44.96M -49.13M -39.19M -30.60M -29.15M -26.34M -29.15M -25.27M -23.50M -22.47M -19.15M -14.05M -10.27M -7.33M -5.64M -15.79M -12.19M -21.59M -22.49M -47.34M -45.69M -56.62M
Acquisitions (Net) -2.24M -18.37M -18.14M -32.94M -70.19M -20.54M -27.50M -33.87M -22.76M -18.43M -12.96M -16.28M -10.74M -10.79M -9.45M -10.00M -5.86M -4.18M -6.58M -4.52M -2.52M -1.55M -0.71M -0.60M -0.40M -3.35M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -3.41M -48.18M -55.86M -24.50M -25.96M -14.91M -24.97M -24.39M -25.95M -34.44M -15.01M -14.21M -8.81M -4.47M -4.39M -7.43M -11.28M -6.90M -11.19M -8.95M -4.42M -2.35M -0.19M -0.58M -5.21M -2.00M -2.94M -3.00M -40.28M -36.59M -46.92M
Sales / Maturities of Investments 2.57M 54.39M 53.61M 34.88M 23.61M 24.98M 26.70M 23.23M 33.74M 36.18M 16.65M 17.22M 8.97M 6.75M 4.41M 12.63M 8.95M 7.16M 9.05M 9.96M 5.61M 0.73M 0.12M 0.23M 1.51M 2.74M 0.24M 2.29M 21.13M 22.52M 63.82M
Other Investing Activities -8.75M -6.47M 2.70M -2.55M 2.13M 1.09M -1.62M -1.77M 1.10M -0.68M 1.14M 1.79M -0.75M -0.64M 0.49M 1.43M 0.60M 0.48M -1.65M 0.49M 0.53M 1.08M 0.29M -0.68M -1.58M 0.02M -0.04M -2.33M -11.59M -3.68M 0.11M
Net Cash from Investing Activities -127.04M -118.88M -126.43M -145.62M -161.53M -104.92M -100.59M -99.96M -85.89M -112.23M -76.55M -76.06M -54.60M -47.32M -53.08M -47.46M -45.48M -35.86M -57.00M -24.74M -23.96M -11.77M -8.93M -12.89M -24.46M -17.40M -22.79M -39.53M -83.38M -68.89M -26.62M
Net Debt Issuance -13.22M -14.94M -13.44M 5.59M 45.44M -6.09M 12.70M 12.71M 8.78M 10.54M -0.21M 7.21M -6.47M -0.89M 2.80M -5.14M -1.90M 1.86M 4.20M 0.27M 0.91M -0.92M 0.24M -0.40M 1.56M -0.44M 0.86M 0.50M 0.94M -0.15M -0.23M
Long-Term Debt Issuance -20.47M -37.68M -5.04M -0.19M 18.15M -5.21M 0.75M 10.50M 2.70M 8.54M 3.86M 6.32M -5.07M -0.14M 2.80M -3.34M -3.31M 0.15M 1.25M -0.69M 0.41M -0.70M 0.25M -0.06M 0.28M -0.43M 1.06M 0.49M 0.94M -0.15M -0.09M
Short-Term Debt Issuance 0.00M 0.56M -3.48M 2.86M 0.42M 0.47M 3.87M 0.00M 1.62M -0.03M 1.26M -0.30M 0.12M -0.49M 0.00M -0.66M 0.09M 0.42M 0.07M 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 -24.49M -42.33M -33.26M -33.91M -12.54M -9.90M -10.03M -9.54M -4.68M -1.72M -3.22M -1.79M -2.33M 0.03M -0.13M 0.23M -0.30M -2.58M -0.81M 0.25M 0.06M 0.12M 0.03M 0.01M 1.10M 2.61M 0.67M 0.87M 3.15M 0.56M 0.17M
Common Stock Issuance 0.32M 0.69M 0.32M 1.07M 4.53M 5.70M 1.84M 1.37M 2.05M 1.56M 1.47M 1.13M 2.03M 2.39M 0.63M 2.95M 1.47M 0.86M 4.66M 5.08M 1.67M 1.49M 0.70M 0.96M 2.91M 3.50M 3.18M 2.08M 6.18M 3.27M 0.80M
Common Stock Repurchased -28.31M -45.01M -34.89M -32.87M -28.88M -17.53M -11.49M -16.03M -8.29M -8.61M -7.68M -3.38M -3.29M -1.11M -0.91M -0.74M -1.11M -5.04M -4.27M -2.33M -0.49M -0.01M 0.00M -0.02M -0.04M 0.00M 0.00M -0.04M -0.11M -0.01M 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 0.00M 0.00M 0.00M 0.00M 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 -31.28M -40.95M -40.42M -40.03M -31.38M -32.23M -29.11M -33.67M -25.69M -19.26M -17.46M -15.27M -11.39M -8.19M -6.93M -4.50M -4.46M -5.16M -4.20M -3.76M -2.78M -1.40M -0.95M -0.50M -0.28M -0.35M -1.09M -0.77M -0.77M -0.21M -0.19M
Common Dividends Paid -31.01M -40.19M -38.94M -44.13M -31.89M -32.44M -29.08M -33.51M -25.60M -19.17M -17.46M -15.10M -11.02M -7.76M -6.82M -4.37M -4.40M -4.01M -3.37M -2.83M -2.16M -1.14M -0.99M -0.50M -0.28M -0.35M -1.08M -0.77M -0.80M -0.22M -0.19M
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 -27.87M -23.16M -24.17M -15.86M -15.62M -15.56M -10.43M -3.78M -2.86M -1.05M -1.84M -1.75M 0.59M -0.74M 0.23M -1.90M -1.63M -0.43M 1.02M 0.77M 0.11M 0.08M -0.48M 0.37M 0.95M 1.21M -0.13M 0.52M 3.12M 6.77M 5.16M
Net Cash from Financing Activities -158.87M -155.32M -167.67M -107.15M -47.50M -87.59M -33.66M -53.87M -39.21M -23.69M -42.28M -31.52M -41.94M -20.41M -10.66M -24.87M -13.51M -10.56M -3.41M -10.79M -6.50M -2.35M -2.86M 0.95M 4.28M 5.45M 2.81M 3.97M 12.05M 21.09M 10.38M
Effect of FX on Cash 0.21M -1.95M 2.09M -3.12M -2.34M -0.71M 0.25M -1.61M 0.36M -1.31M -0.94M -0.34M 0.04M -0.06M -0.25M -0.15M 0.17M -0.51M 0.14M 0.44M -0.07M 0.06M 0.07M 0.01M -0.08M -0.11M -0.11M 0.15M -1.68M -1.40M -0.11M
Net Change in Cash 32.95M 5.91M 24.15M -18.72M 49.06M 104.60M 30.71M 15.85M 13.53M 18.79M 9.36M -9.02M 22.81M 11.30M 0.06M 8.97M 9.24M -2.75M 8.18M 9.57M 1.82M 3.20M 1.40M 0.24M 4.68M 4.24M 2.87M -0.14M -5.67M 10.13M 2.57M
Cash at Beginning of Period 394.26M 480.33M 460.60M 435.22M 406.32M 312.15M 255.56M 226.69M 214.07M 169.18M 157.01M 178.19M 161.87M 118.65M 119.80M 111.13M 86.33M 100.08M 71.92M 58.80M 53.95M 28.40M 23.01M 20.80M 23.58M 17.54M 20.20M 21.33M 36.61M 40.56M 18.14M
Cash at End of Period 518.52M 509.94M 467.33M 436.69M 459.30M 421.86M 313.32M 245.88M 229.07M 210.05M 161.90M 167.31M 190.53M 144.60M 117.15M 134.92M 101.60M 87.65M 98.36M 70.05M 58.96M 33.78M 23.40M 23.04M 28.60M 25.47M 18.99M 23.78M 43.16M 40.46M 41.28M
Operating Cash Flow 323.48M 287.57M 294.64M 255.59M 250.46M 291.42M 220.49M 205.35M 143.38M 165.94M 142.89M 114.81M 124.23M 99.72M 80.56M 98.60M 67.82M 67.57M 58.48M 38.30M 35.95M 19.65M 15.51M 21.95M 22.77M 16.00M 23.76M 10.57M 67.60M 45.93M 20.13M
Capital Expenditure -62.12M -57.02M -73.71M -64.13M -63.46M -68.67M -65.26M -62.69M -46.39M -44.80M -48.98M -39.86M -28.71M -28.98M -25.88M -27.58M -25.47M -23.32M -22.28M -18.92M -14.01M -10.27M -7.33M -5.10M -15.26M -12.21M -21.59M -22.52M -47.34M -45.69M -56.62M
Free Cash Flow 255.56M 206.19M 198.65M 165.26M 173.84M 207.87M 134.23M 125.39M 101.55M 110.24M 94.74M 56.91M 82.91M 62.79M 55.45M 60.82M 39.57M 29.85M 35.69M 27.49M 20.32M 9.37M 7.00M 8.41M 5.15M 4.83M 7.94M -1.89M 6.70M 6.43M 3.49M

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 515.17M 397.89M 374.30M 395.71M 367.50M 297.56M 329.55M 289.17M 234.06M 207.38M 177.34M 160.35M 184.19M 135.77M 114.34M 101.44M 82.39M 103.84M 74.74M 63.09M 54.45M 33.05M 25.69M 21.68M 33.53M 40.38M 46.02M 34.76M 39.54M 33.15M 9.03M
(-) Tax Adjustment 142.25M 88.38M 114.53M 85.63M 88.08M 83.73M 76.95M 64.45M 60.62M 44.41M 46.28M 41.63M 57.39M 48.10M 30.14M 28.77M 21.65M 34.54M 22.11M 13.45M 13.89M 4.95M 8.44M 3.09M 5.68M 14.39M 11.26M 13.02M 26.16M 17.53M 3.27M
(-) Change In Working Capital -45.12M -32.91M -49.54M -76.99M -41.25M 20.34M -23.74M -26.27M -23.14M -13.49M -12.50M -34.79M -15.86M -11.92M -14.08M -0.26M 0.75M -9.80M -7.66M -7.45M -1.87M -1.79M 0.08M -0.55M -0.26M -4.60M -1.69M -3.71M -15.59M -9.29M -3.35M
(-) Capital Expenditure 62.12M 57.02M 73.71M 64.13M 63.46M 68.67M 65.26M 62.69M 46.39M 44.80M 48.98M 39.86M 28.71M 28.98M 25.88M 27.58M 25.47M 23.32M 22.28M 18.92M 14.01M 10.27M 7.33M 5.10M 15.26M 12.21M 21.59M 22.52M 47.34M 45.69M 56.62M
Unlevered Free Cash Flow 355.91M 285.40M 235.60M 322.95M 257.22M 124.81M 211.08M 188.29M 150.20M 131.66M 94.57M 113.65M 113.95M 70.61M 72.41M 45.36M 34.52M 55.77M 38.00M 38.18M 28.42M 19.62M 9.85M 14.04M 12.85M 18.37M 14.87M 2.93M -18.37M -20.78M -47.51M
(-) Net Interest Income After Taxes -29.63M -27.46M -23.38M -21.30M -20.11M -20.43M -17.14M -14.28M -11.10M -8.43M -6.30M -7.19M -5.19M -4.13M -4.05M -3.23M -2.92M -2.78M -1.48M -0.94M -0.98M -0.56M -0.36M -0.27M -0.30M -0.26M -0.17M -0.16M -0.04M -0.11M -0.11M
Net Debt Issuance -13.22M -14.94M -13.44M 5.59M 45.44M -6.09M 12.70M 12.71M 8.78M 10.54M -0.21M 7.21M -6.47M -0.89M 2.80M -5.14M -1.90M 1.86M 4.20M 0.27M 0.91M -0.92M 0.24M -0.40M 1.56M -0.44M 0.86M 0.50M 0.94M -0.15M -0.23M
Levered Free Cash Flow 372.32M 297.92M 245.54M 349.83M 322.76M 139.15M 240.93M 215.29M 170.08M 150.64M 100.66M 128.04M 112.66M 73.85M 79.26M 43.45M 35.53M 60.42M 43.68M 39.38M 30.30M 19.27M 10.45M 13.91M 14.70M 18.19M 15.90M 3.58M -17.40M -20.82M -47.63M