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Definitive Analysis

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Page: Industry Financials

ABEV3.SA

Industry Analysis

Master Data Export

Industry Enterprise Value

Metric MRQ 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Stock Price 8.07 10.78 12.78 11.65 13.90 15.54 13.96 14.58 16.11 17.61 18.06 19.76 17.58 15.53 13.26 10.86 11.26 9.81 7.88 9.46 10.32 6.86 7.24 2.78 1.92 1.44 1.53 1.60 1.41 1.08 1.21
Market Capitalization 1,834.12M 204.90M 3,414.50M 3,143.37M 3,029.41M 2,973.28M 2,866.33M 2,786.55M 2,673.04M 2,863.25M 1,738.34M 2,107.08M 2,346.81M 2,176.21M 1,787.95M 1,915.10M 2,101.96M 1,960.70M 1,151.65M 2,298.57M 1,979.42M 1,327.40M 1,174.42M 938.14M 889.31M 599.20M 739.35M 634.48M 491.97M 502.30M 452.11M
(-) Cash & Equivalents 33.52M 27.18M 345.13M 316.77M 262.31M 209.73M 210.31M 128.96M 205.91M 117.47M 119.98M 123.63M 130.77M 124.08M 124.32M 193.78M 179.98M 141.24M 61.27M 104.83M 87.94M 65.52M 92.95M 81.24M 76.92M 40.03M 44.49M 31.37M 24.12M 20.14M 23.25M
(+) Total Debt 26.00M 21.59M 240.35M 187.25M 185.25M 134.79M 115.21M 104.47M 119.10M 135.38M 133.53M 180.80M 234.74M 242.48M 241.00M 212.08M 307.97M 315.83M 203.43M 178.35M 393.21M 355.25M 382.37M 333.56M 255.61M 71.47M 61.56M 48.18M 55.82M 54.32M 35.06M
Enterprise Value 1,848,461,058.62 184,795,795.27 3,452,145,045.52 3,250,940,397.64 3,035,201,102.15 3,357,795,133.11 3,689,242,102.88 2,560,845,919.03 2,791,702,344.81 2,860,246,375.49 1,614,039,568.25 2,114,710,987.68 2,216,112,374.36 2,260,358,401.01 2,036,671,969.48 1,973,591,203.72 2,218,997,121.34 1,954,759,243.41 1,451,840,745.34 2,800,928,540.84 2,337,562,874.65 2,157,704,543.80 1,921,402,716.33 1,190,988,927.96 1,256,442,823.60 695,515,838.21 811,112,069.18 701,157,151.38 542,101,864.62 532,322,369.78 463,154,445.10

Industry Income Statement

Metric TTM 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Revenue 894.61M 329.22M 1,762.46M 1,523.49M 1,370.25M 1,251.62M 1,148.18M 1,171.25M 1,285.92M 1,115.45M 1,031.50M 1,041.47M 1,155.06M 1,134.31M 1,113.38M 974.23M 856.36M 791.05M 979.93M 987.88M 1,496.71M 1,537.81M 1,487.69M 1,213.47M 929.32M 300.54M 234.57M 188.25M 168.19M 177.50M 96.29M
Cost of Revenue 574.05M 200.53M 1,009.14M 916.20M 835.87M 750.46M 704.97M 696.42M 803.26M 705.07M 617.66M 611.15M 652.43M 600.91M 588.88M 501.33M 473.51M 407.09M 389.00M 384.30M 793.72M 815.07M 801.81M 650.58M 464.51M 166.70M 127.66M 100.80M 81.45M 98.75M 64.17M
Gross Profit 320.56M 128.68M 753.32M 607.30M 534.38M 501.16M 443.22M 474.83M 482.66M 410.38M 413.84M 430.32M 502.63M 533.41M 524.50M 472.90M 382.85M 383.96M 590.93M 603.58M 702.98M 722.74M 685.87M 562.89M 464.81M 133.84M 106.90M 87.45M 86.74M 78.75M 32.12M
Gross Margin 35.8% 39.1% 42.7% 39.9% 39.0% 40.0% 38.6% 40.5% 37.5% 36.8% 40.1% 41.3% 43.5% 47.0% 47.1% 48.5% 44.7% 48.5% 60.3% 61.1% 47.0% 47.0% 46.1% 46.4% 50.0% 44.5% 45.6% 46.5% 51.6% 44.4% 33.4%
R&D Expenses 0.06M 0.00M 0.76M 0.57M 0.73M 0.63M 0.28M 0.27M 0.14M 0.13M 0.16M 0.19M 0.20M 0.18M 0.13M 0.00M 0.00M 0.00M 0.00M 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 134.79M 28.03M 304.86M 250.97M 232.51M 207.54M 190.46M 208.54M 342.04M 187.53M 201.05M 291.03M 287.66M 286.41M 267.01M 161.48M 144.10M 118.35M 165.84M 141.88M 231.22M 236.13M 248.99M 241.79M 201.32M 85.82M 66.94M 60.09M 48.87M 35.70M 25.94M
Operating Expenses 134.85M 28.03M 305.62M 251.53M 233.24M 208.17M 190.74M 208.81M 342.18M 187.66M 201.22M 291.22M 287.86M 286.58M 267.14M 161.48M 144.10M 118.35M 165.84M 141.88M 231.22M 236.13M 248.99M 241.79M 201.32M 85.82M 66.94M 60.09M 48.87M 35.70M 25.94M
Operating Income 185.71M 100.65M 447.70M 355.76M 301.14M 292.99M 252.48M 266.02M 140.48M 222.72M 212.63M 139.10M 214.78M 246.83M 257.36M 311.42M 238.75M 265.61M 425.10M 461.71M 471.76M 486.61M 436.88M 321.09M 263.49M 48.02M 39.96M 27.36M 37.86M 43.05M 6.18M
Operating Margin 20.8% 30.6% 25.4% 23.4% 22.0% 23.4% 22.0% 22.7% 10.9% 20.0% 20.6% 13.4% 18.6% 21.8% 23.1% 32.0% 27.9% 33.6% 43.4% 46.7% 31.5% 31.6% 29.4% 26.5% 28.4% 16.0% 17.0% 14.5% 22.5% 24.3% 6.4%
Interest Income 2.82M 0.07M 11.75M 10.87M 6.64M 4.46M 3.31M 3.07M 3.07M 2.09M 1.97M 2.48M 3.01M 2.67M 3.51M 3.33M 2.13M 1.74M 2.33M 6.29M 1.07M 4.34M 0.87M 1.02M 0.51M 0.77M 0.77M 0.00M 0.00M 0.05M 0.02M
Interest Expense 4.32M 0.71M 12.50M 10.73M 4.07M 5.61M 5.58M 6.27M 6.81M 7.77M 6.45M 8.80M 8.45M 9.60M 11.36M 13.88M 16.69M 9.25M 18.29M 16.54M 27.42M 28.21M 16.60M 3.05M 3.73M 2.75M 2.23M 0.99M 0.67M 0.63M 0.47M
Net Interest Income -1.50M -0.64M -0.75M 0.14M 2.57M -1.15M -2.27M -3.20M -3.74M -5.68M -4.47M -6.32M -5.44M -6.93M -7.85M -10.55M -14.55M -7.51M -15.97M -10.25M -26.35M -23.87M -15.74M -2.04M -3.22M -1.98M -1.46M -0.99M -0.67M -0.58M -0.46M
Other Income / Expense -133.53M -82.06M -177.75M -94.22M -211.14M -116.11M -174.25M -161.72M 1.28M -125.14M -135.29M -64.10M -104.67M -127.68M -140.48M -152.89M -80.15M -131.34M -313.49M -334.63M -317.42M -370.23M -317.61M -228.51M -176.28M -22.28M -19.41M 0.69M -14.84M -14.56M 4.62M
Pre-Tax Income 50.68M 17.96M 269.20M 261.68M 92.57M 175.72M 75.95M 101.11M 138.01M 91.90M 72.86M 68.67M 104.66M 112.21M 109.02M 147.98M 144.05M 126.76M 95.64M 116.82M 127.98M 92.52M 103.53M 90.54M 83.99M 23.76M 19.10M 27.06M 22.36M 27.91M 10.35M
Pre-Tax Margin 5.7% 5.5% 15.3% 17.2% 6.8% 14.0% 6.6% 8.6% 10.7% 8.2% 7.1% 6.6% 9.1% 9.9% 9.8% 15.2% 16.8% 16.0% 9.8% 11.8% 8.6% 6.0% 7.0% 7.5% 9.0% 7.9% 8.1% 14.4% 13.3% 15.7% 10.7%
Income Tax Expense 15.27M 2.07M 69.10M 40.51M 27.39M 34.79M 33.70M 33.76M 39.87M 15.84M 17.25M 17.57M 21.91M 23.72M 32.41M 27.49M 28.33M 8.69M 15.05M 16.66M 23.66M 22.64M 26.80M 23.37M 14.52M 4.58M 4.30M 4.27M 3.77M 3.46M 2.29M
Tax Rate 30.1% 11.5% 25.7% 15.5% 29.6% 19.8% 35.0% 33.4% 28.9% 17.2% 23.7% 25.6% 20.9% 21.1% 29.7% 18.6% 19.7% 6.9% 15.7% 14.3% 18.5% 24.5% 25.9% 25.8% 17.3% 19.3% 22.5% 15.8% 16.9% 12.4% 22.1%
Net Income 35.41M 15.89M 200.10M 221.17M 65.18M 140.93M 42.25M 67.35M 98.14M 76.06M 55.61M 51.10M 82.75M 88.49M 76.61M 120.49M 115.72M 118.07M 80.59M 100.17M 104.32M 69.88M 76.73M 67.18M 69.47M 19.19M 14.80M 22.80M 18.59M 24.44M 8.06M
Net Margin 4.0% 4.8% 11.4% 14.5% 4.8% 11.3% 3.7% 5.8% 7.6% 6.8% 5.4% 4.9% 7.2% 7.8% 6.9% 12.4% 13.5% 14.9% 8.2% 10.1% 7.0% 4.5% 5.2% 5.5% 7.5% 6.4% 6.3% 12.1% 11.1% 13.8% 8.4%
EBIT 185.71M 100.65M 447.70M 355.76M 301.14M 292.99M 252.48M 266.02M 140.48M 222.72M 212.63M 139.10M 214.78M 246.83M 257.36M 311.42M 238.75M 265.61M 425.10M 461.71M 471.76M 486.61M 436.88M 321.09M 263.49M 48.02M 39.96M 27.36M 37.86M 43.05M 6.18M
Depreciation & Amortization 43.69M 4.94M 87.65M 74.19M 61.19M 46.50M 47.00M 46.76M 64.86M 68.52M 48.24M 59.94M 59.17M 59.43M 55.75M 43.29M 40.64M 27.54M 57.76M 25.17M 95.87M 93.61M 84.23M 55.83M 43.38M 27.85M 17.46M 14.51M 12.38M 23.32M 1.01M
EBITDA 229.40M 105.59M 535.35M 429.95M 362.33M 339.48M 299.48M 312.78M 205.34M 291.24M 260.87M 199.03M 273.94M 306.25M 313.11M 354.71M 279.40M 293.15M 482.86M 486.88M 567.63M 580.22M 521.11M 376.92M 306.87M 75.86M 57.42M 41.88M 50.24M 66.37M 7.19M
EBITDA Margin 25.6% 32.1% 30.4% 28.2% 26.4% 27.1% 26.1% 26.7% 16.0% 26.1% 25.3% 19.1% 23.7% 27.0% 28.1% 36.4% 32.6% 37.1% 49.3% 49.3% 37.9% 37.7% 35.0% 31.1% 33.0% 25.2% 24.5% 22.2% 29.9% 37.4% 7.5%
NOPAT 129.75M 89.06M 332.79M 300.68M 212.04M 234.98M 164.11M 177.21M 99.89M 184.33M 162.29M 103.51M 169.81M 194.65M 180.84M 253.56M 191.79M 247.39M 358.21M 395.88M 384.54M 367.52M 323.78M 238.23M 217.94M 38.77M 30.97M 23.05M 31.48M 37.71M 4.82M
NOPAT Margin 14.5% 27.1% 18.9% 19.7% 15.5% 18.8% 14.3% 15.1% 7.8% 16.5% 15.7% 9.9% 14.7% 17.2% 16.2% 26.0% 22.4% 31.3% 36.6% 40.1% 25.7% 23.9% 21.8% 19.6% 23.5% 12.9% 13.2% 12.2% 18.7% 21.2% 5.0%
Owner's Earnings 79.10M 20.83M 287.75M 295.35M 126.37M 187.43M 89.25M 114.11M 163.00M 144.58M 103.86M 111.04M 141.92M 147.92M 132.35M 163.78M 156.36M 145.61M 138.35M 125.34M 200.20M 163.48M 160.97M 123.01M 112.85M 47.03M 32.26M 37.31M 30.96M 47.77M 9.07M
Owner's Earnings Margin 8.8% 6.3% 16.3% 19.4% 9.2% 15.0% 7.8% 9.7% 12.7% 13.0% 10.1% 10.7% 12.3% 13.0% 11.9% 16.8% 18.3% 18.4% 14.1% 12.7% 13.4% 10.6% 10.8% 10.1% 12.1% 15.6% 13.8% 19.8% 18.4% 26.9% 9.4%
EPS 0.22 0.28 0.62 0.66 0.20 0.45 0.14 0.22 0.31 0.24 0.20 0.17 0.27 0.29 0.24 0.27 0.27 0.29 0.23 0.25 0.21 0.13 0.11 0.13 0.13 0.04 0.03 0.04 0.03 0.03 0.01
EPS (Diluted) 0.22 0.28 0.62 0.66 0.20 0.45 0.14 0.22 0.31 0.24 0.20 0.17 0.27 0.29 0.24 0.27 0.27 0.29 0.23 0.25 0.21 0.13 0.11 0.13 0.13 0.04 0.03 0.04 0.03 0.03 0.01
Shares (Diluted) 159.67M 57.28M 323.72M 334.24M 319.01M 315.93M 294.67M 299.52M 315.45M 318.21M 282.46M 305.29M 305.79M 301.61M 319.44M 438.70M 425.35M 406.16M 345.23M 405.60M 497.40M 532.56M 677.17M 520.59M 522.19M 517.15M 517.95M 534.59M 531.75M 776.39M 540.11M

Industry Balance Sheet

Metric MRQ 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Cash & Cash Equivalents 33.52M 27.18M 345.13M 316.77M 262.31M 209.73M 210.31M 128.96M 205.91M 117.47M 119.98M 123.63M 130.77M 124.08M 127.30M 193.78M 179.98M 141.24M 64.71M 104.83M 87.94M 65.52M 92.95M 81.24M 76.92M 40.03M 44.49M 31.37M 24.12M 20.14M 23.25M
Short-Term Investments 0.26M 0.28M 34.75M 18.27M 7.13M 3.80M 0.84M 0.82M 1.12M 2.04M 1.45M 1.36M 1.12M 1.19M 0.99M 0.70M 4.95M 0.30M 0.07M 4.03M 9.97M 8.34M 5.15M 61.82M 27.82M 5.72M 15.63M 15.58M 14.95M 17.21M 0.00M
Cash & Short-Term Investments 33.77M 27.46M 379.87M 335.03M 269.44M 213.53M 211.15M 129.78M 207.03M 119.52M 121.43M 124.99M 131.89M 125.27M 128.30M 194.49M 184.93M 141.55M 64.78M 108.86M 97.91M 73.87M 98.10M 143.06M 104.74M 45.74M 60.12M 46.96M 39.08M 37.34M 23.25M
Net Receivables 100.93M 25.97M 156.22M 140.80M 99.01M 76.41M 89.03M 84.48M 99.45M 90.60M 40.35M 75.17M 86.63M 134.32M 120.64M 67.78M 51.36M 51.92M 41.88M 133.26M 122.03M 99.86M 80.73M 93.29M 69.44M 33.26M 6.91M 19.91M 15.70M 15.34M 5.20M
Inventory 89.27M 47.09M 205.77M 195.53M 192.41M 162.05M 149.86M 134.93M 134.24M 132.15M 133.21M 102.35M 116.44M 115.83M 115.41M 120.27M 94.13M 91.73M 114.16M 105.31M 114.41M 118.27M 137.60M 89.23M 80.12M 50.20M 41.74M 34.84M 26.49M 26.47M 21.82M
Other Current Assets 15.54M 6.57M 40.14M 35.56M 54.53M 37.96M 24.45M 32.83M 30.97M 38.66M 51.59M 41.10M 34.33M 43.19M 42.51M 8.04M 9.41M 17.29M 9.28M 9.54M 19.16M 19.97M 10.75M 16.82M 18.25M 14.54M 24.74M 25.95M 28.12M 21.82M 14.59M
Total Current Assets 239.51M 107.09M 782.00M 706.93M 615.39M 489.96M 474.49M 382.03M 471.69M 380.93M 346.59M 343.61M 369.29M 418.61M 406.85M 390.58M 339.83M 302.49M 230.10M 356.96M 353.51M 311.96M 327.18M 342.40M 272.54M 143.75M 133.51M 127.65M 109.39M 100.97M 64.86M
Property, Plant & Equipment 74.35M 56.18M 776.38M 624.42M 503.43M 474.50M 471.07M 451.12M 633.91M 616.08M 485.90M 458.37M 474.28M 470.96M 493.25M 412.98M 374.32M 336.86M 326.71M 340.90M 641.93M 672.76M 735.01M 514.61M 488.88M 237.07M 232.06M 171.52M 152.28M 154.85M 71.66M
Goodwill 1.93M 0.16M 409.77M 197.23M 145.89M 114.52M 92.02M 93.85M 266.17M 278.39M 62.16M 270.99M 301.91M 262.55M 144.41M 18.41M 5.67M 6.05M 6.27M 9.11M 14.18M 10.51M 9.02M 3.04M 1.29M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.32M 0.27M 402.36M 286.75M 142.44M 118.22M 101.05M 106.81M 98.20M 102.45M 68.73M 99.20M 102.39M 95.97M 39.43M 76.49M 81.30M 42.94M 40.97M 38.06M 40.23M 36.09M 65.80M 33.43M 36.32M 17.11M 4.82M 3.48M 2.22M 1.88M 2.16M
Long-Term Investments 8.66M 7.45M 28.03M 30.84M 24.76M 25.64M 17.48M 19.19M 19.90M 19.71M 21.30M 34.82M 33.72M 30.99M 19.41M 52.72M 67.54M 28.77M 14.40M 2.51M 10.38M 12.37M 30.17M 6.19M 9.76M 0.09M 0.01M 0.00M 0.00M 0.00M 0.00M
Tax Assets 4.47M 0.18M 27.17M 15.09M 13.74M 15.28M 14.70M 11.59M 14.03M 12.78M 6.75M 7.68M 10.64M 8.18M 8.42M 19.41M 15.31M 10.17M 3.99M 6.26M 23.98M 14.79M 31.48M 20.31M 0.82M 0.77M 0.23M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 40.83M 13.43M 87.16M 21.84M 23.56M 21.47M 20.67M 8.22M 19.15M 11.02M 11.70M 29.86M 41.72M 29.06M 25.83M 33.74M 29.56M 24.79M 28.19M 17.66M 47.30M 51.91M 31.55M 21.05M 23.08M 14.38M 29.28M 15.09M 14.50M 21.04M 1.76M
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 130.56M 77.66M 1,730.88M 1,176.17M 853.82M 769.63M 717.00M 690.79M 1,051.37M 1,040.43M 656.53M 900.91M 964.67M 897.71M 730.74M 613.75M 573.70M 449.58M 420.54M 414.49M 778.01M 798.43M 903.04M 598.64M 560.15M 269.42M 266.41M 190.08M 169.00M 177.77M 75.57M
Total Assets 370.06M 184.75M 2,512.87M 1,883.09M 1,469.21M 1,259.59M 1,191.49M 1,072.82M 1,523.06M 1,421.36M 1,003.12M 1,244.52M 1,333.95M 1,316.32M 1,137.60M 1,004.33M 913.53M 752.07M 650.65M 771.46M 1,131.52M 1,110.39M 1,230.22M 941.04M 832.69M 413.17M 399.92M 317.74M 278.38M 278.74M 140.43M
Accounts Payable 48.57M 32.64M 166.74M 138.99M 151.52M 131.13M 97.92M 95.06M 97.68M 92.01M 78.80M 109.55M 129.58M 126.61M 121.43M 85.05M 75.08M 64.08M 65.55M 77.97M 107.20M 67.13M 163.81M 114.75M 99.59M 37.80M 18.48M 20.69M 16.67M 14.80M 7.39M
Short-Term Debt 14.62M 7.61M 49.54M 45.95M 49.06M 41.28M 33.58M 26.72M 43.39M 40.66M 97.14M 60.11M 67.07M 83.52M 127.52M 45.89M 36.08M 59.18M 62.18M 71.84M 97.02M 98.47M 150.49M 105.94M 58.66M 39.63M 28.71M 18.94M 17.19M 33.40M 9.06M
Tax Payables 0.00M 0.00M 38.85M 16.61M 31.73M 28.11M 23.87M 24.36M 28.46M 21.41M 21.11M 24.84M 29.21M 25.69M 14.21M 15.04M 6.81M 5.58M 7.53M 5.87M 7.60M 8.67M 26.90M 21.39M 13.41M 2.50M 3.49M 2.68M 1.88M 2.02M 1.75M
Deferred Revenue 0.00M 0.00M 0.00M 0.38M 4.08M 38.28M 27.48M 37.63M 15.23M 26.00M 21.14M 18.38M 17.35M 13.53M 11.97M 11.41M 9.56M 6.87M 5.88M 10.51M 10.51M 8.80M 5.81M 7.30M 5.66M 9.19M 9.49M 5.45M 3.35M 6.65M 4.61M
Other Current Liabilities 74.40M 10.83M 178.38M 174.83M 131.28M 35.00M 57.42M 77.57M 142.60M 158.47M 80.66M 89.37M 122.72M 114.06M 105.62M 80.48M 49.75M 66.43M 32.58M 34.05M 32.41M 41.81M 28.42M 15.15M 34.26M 7.89M 22.43M 20.98M 20.54M 25.37M 5.23M
Total Current Liabilities 137.58M 51.08M 433.52M 376.75M 367.66M 273.80M 240.28M 261.34M 327.36M 338.55M 298.85M 302.26M 365.94M 363.42M 380.76M 237.87M 177.28M 202.14M 173.71M 200.24M 254.74M 224.87M 375.44M 264.53M 211.58M 97.00M 82.59M 68.75M 59.64M 82.24M 28.05M
Long-Term Debt 1.14M 4.09M 22.14M 39.52M 61.08M 19.24M 53.15M 49.15M 57.85M 58.30M 49.86M 102.86M 83.24M 132.08M 118.43M 103.70M 191.75M 243.80M 185.58M 217.66M 295.03M 264.78M 225.66M 196.52M 144.92M 20.49M 36.90M 27.57M 29.19M 36.24M 14.49M
Capital Lease Obligations 0.00M 1.52M 14.17M 12.47M 12.71M 10.71M 10.73M 7.95M 0.79M 0.70M 0.25M 0.29M 0.54M 0.12M 0.06M 0.00M 0.00M 0.00M 0.00M 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 1.66M 2.66M 86.97M 20.57M 29.44M 27.04M 21.96M 17.11M 13.96M 12.51M 12.46M 14.59M 17.48M 17.78M 11.49M 48.31M 40.19M 14.62M 8.28M 5.97M 29.88M 31.44M 35.06M 14.90M 18.38M 4.70M 8.30M 2.93M 0.34M 0.00M 0.00M
Other Non-Current Liabilities 1.92M 1.59M 29.40M 31.89M 39.52M 11.50M 29.54M 41.43M 44.49M 47.13M 33.63M 31.66M 30.41M 35.86M 26.60M 26.02M 19.93M 13.26M 4.41M 8.42M 62.29M 83.25M 116.07M 68.41M 53.42M 8.78M 15.70M 13.41M 15.08M 16.82M 2.49M
Total Non-Current Liabilities 4.72M 9.86M 152.68M 104.45M 142.75M 68.48M 115.37M 115.64M 117.09M 118.64M 96.20M 149.40M 131.67M 185.83M 156.60M 178.03M 251.87M 271.68M 198.27M 232.06M 387.20M 379.46M 376.79M 279.83M 216.72M 33.96M 60.90M 43.91M 44.60M 53.06M 16.98M
Total Liabilities 142.30M 60.94M 586.20M 481.21M 510.41M 342.29M 355.64M 376.99M 444.45M 457.20M 395.05M 451.66M 497.61M 549.25M 537.35M 415.90M 429.14M 473.82M 371.98M 432.29M 641.94M 604.34M 752.23M 544.35M 428.30M 130.96M 143.49M 112.66M 104.24M 135.30M 45.03M
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 0.00M 0.00M
Common Stock 7.60M 7.64M 93.26M 91.81M 88.79M 87.59M 89.97M 89.22M 131.60M 129.10M 110.71M 129.00M 128.97M 110.64M 64.13M 51.42M 58.31M 30.98M 27.35M 25.64M 46.96M 47.22M 60.39M 53.08M 49.89M 24.65M 23.45M 17.69M 10.23M 11.19M 13.31M
Retained Earnings 0.00M 58.09M 721.25M 665.03M 569.02M 506.24M 393.86M 323.79M 424.17M 315.74M 254.09M 316.82M 277.51M 294.72M 227.87M 186.89M 140.89M 95.14M 94.88M 57.84M 57.35M 52.30M 240.06M 48.56M 77.03M 55.39M 39.09M 43.18M 33.08M 12.75M 9.15M
Accumulated OCI 0.00M 22.81M 0.32M -0.36M 9.79M 11.62M -9.57M -2.59M -23.35M -21.11M -23.00M -13.62M -19.55M -2.39M 0.00M -3.53M -0.10M -0.08M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.05M 0.00M 0.00M -0.48M -0.62M 0.00M
Minority Interest 1.95M 0.36M 52.32M 47.64M 35.84M 34.60M 34.16M 28.76M 31.76M 35.92M 36.57M 35.30M 33.51M 27.42M 26.07M 15.96M 15.94M 15.37M 16.00M 22.54M 40.99M 42.09M 70.58M 31.88M 29.72M 13.15M 11.78M 5.19M 5.02M 3.66M 2.03M
Total Shareholders’ Equity 7.60M 88.55M 814.82M 756.48M 667.59M 605.45M 474.25M 410.42M 532.42M 423.74M 341.80M 432.20M 386.92M 402.97M 291.99M 234.78M 199.10M 126.04M 122.24M 83.48M 104.31M 99.52M 300.46M 101.64M 126.92M 79.99M 62.53M 60.87M 42.82M 23.31M 22.46M
Total Equity 9.55M 88.90M 867.14M 804.11M 703.43M 640.05M 508.42M 439.18M 564.18M 459.65M 378.37M 467.50M 420.43M 430.40M 318.07M 250.74M 215.04M 141.41M 138.24M 106.02M 145.30M 141.61M 371.04M 133.52M 156.64M 93.15M 74.31M 66.06M 47.84M 26.98M 24.50M
Total Liabilities & Equity 151.85M 149.84M 1,453.34M 1,285.32M 1,213.84M 982.33M 864.06M 816.16M 1,008.63M 916.85M 773.42M 919.16M 918.03M 979.65M 855.42M 666.65M 644.18M 615.22M 510.21M 538.31M 787.24M 745.95M 1,123.27M 677.87M 584.94M 224.11M 217.80M 178.72M 152.08M 162.28M 69.53M
Tangible Assets 367.82M 184.32M 1,700.74M 1,399.12M 1,180.88M 1,026.84M 998.41M 872.16M 1,158.69M 1,040.52M 872.23M 874.34M 929.65M 957.80M 953.76M 909.42M 826.56M 703.08M 603.41M 724.28M 1,077.10M 1,063.79M 1,155.39M 904.57M 795.08M 396.06M 395.09M 314.25M 276.16M 276.86M 138.27M
Tangible Equity 7.31M 88.47M 55.01M 320.14M 415.10M 407.30M 315.34M 238.52M 199.80M 78.81M 247.47M 97.31M 16.12M 71.88M 134.23M 155.84M 128.06M 92.42M 90.99M 58.84M 90.89M 95.01M 296.21M 97.04M 119.03M 76.04M 69.48M 62.57M 45.62M 25.10M 22.33M
Tangible Book Value 7,307,764.01 88,474,695.44 55,009,099.58 320,141,368.22 415,103,546.04 407,301,045.22 315,339,088.79 238,520,819.52 199,803,590.25 78,812,393.62 247,473,796.14 97,313,506.33 16,124,629.86 71,877,249.97 134,230,861.06 155,837,869.33 128,060,263.88 92,421,743.97 90,994,679.18 58,843,235.89 90,891,781.27 95,013,995.06 296,209,918.72 97,041,213.04 119,029,719.18 76,039,045.69 69,484,821.19 62,572,889.85 45,622,962.25 25,098,015.94 22,333,690.88
Total Investments 8.86M 7.69M 43.65M 44.11M 32.77M 28.35M 19.06M 20.55M 21.72M 24.82M 22.08M 36.09M 47.54M 34.56M 30.98M 67.94M 114.23M 60.51M 27.38M 20.61M 15.07M 19.95M 43.18M 21.23M 18.87M 10.06M 11.01M 17.47M 10.40M 10.78M 0.00M
Net Debt -17.76M -15.48M -273.44M -231.29M -152.17M -149.21M -123.58M -53.09M -104.67M -18.51M 27.02M 39.35M 19.54M 91.52M 118.65M -44.19M 47.85M 161.73M 183.06M 184.68M 304.10M 297.73M 283.21M 221.21M 126.66M 20.09M 21.12M 15.15M 22.26M 49.51M 0.30M

Industry Capital Metrics

Metric MRQ 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Working Capital 71.11M 51.86M 114.38M 10.85M -49.66M -90.60M -51.48M -63.84M -101.86M -135.06M 51.81M 29.76M -33.05M 8.41M -89.79M 128.60M 170.59M 56.11M 43.96M 4.90M 7.87M 50.02M -57.97M 43.72M 107.53M -5.68M 21.62M 11.14M 42.48M 26.97M 29.33M
Total Capital 241.32M 172.88M 1,472.81M 1,244.79M 1,165.22M 1,020.22M 938.57M 875.25M 971.52M 1,010.91M 801.68M 851.77M 1,209.06M 1,091.00M 813.91M 1,145.38M 1,148.44M 670.45M 505.78M 891.57M 1,121.16M 1,149.34M 1,039.22M 680.73M 600.88M 306.21M 282.04M 235.03M 215.47M 192.89M 130.77M
Capital Employed 232.22M 147.51M 1,880.24M 1,397.10M 1,306.74M 1,106.86M 1,002.51M 975.86M 766.44M 849.46M 822.66M 1,135.84M 1,719.59M 1,575.36M 1,036.75M 1,711.81M 1,584.04M 1,442.40M 431.98M 1,221.59M 1,327.32M 1,458.41M 1,335.19M 1,049.53M 901.76M 313.54M 287.92M 235.39M 217.07M 208.06M 113.03M
Invested Capital 207.81M 145.71M 1,127.69M 928.02M 902.91M 810.49M 728.26M 746.28M 765.61M 893.43M 681.70M 728.14M 1,078.29M 966.92M 686.60M 951.59M 968.45M 529.20M 441.08M 786.74M 1,033.22M 1,083.82M 946.27M 599.49M 523.97M 266.19M 237.56M 203.66M 191.35M 172.76M 107.53M

Industry Cash Flow

Metric TTM 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
Depreciation & Amortization 46.36M 4.94M 87.93M 57.20M 51.32M 49.82M 50.99M 48.41M 64.54M 71.87M 66.36M 62.34M 60.92M 60.86M 56.60M 44.02M 41.00M 22.23M 28.12M 25.61M 95.83M 93.58M 84.33M 55.83M 43.38M 25.70M 15.99M 11.74M 10.53M 45.05M 59.11M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M -0.14M -0.10M -0.20M 0.09M 0.16M -0.23M 0.05M -0.01M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.32M 4.35M
Stock-Based Compensation 0.06M 0.03M 0.78M 0.61M 0.67M 0.16M 0.21M 0.38M 0.28M 0.15M 0.32M 0.31M 0.32M 0.11M 0.00M 0.00M 0.00M 0.00M 0.00M 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 8.27M -6.05M -9.99M -5.85M -4.59M 10.32M 10.86M -1.17M -2.11M 1.26M 3.21M 9.17M -1.08M 0.04M 1.77M -3.72M -2.04M 9.03M -12.62M -5.46M -4.30M -1.57M 0.59M 1.66M -1.90M -6.51M -3.78M -8.71M -3.29M 8.23M -2.97M
Accounts Receivable 1.39M -2.47M -2.90M -5.25M -12.19M -4.47M 8.26M -3.43M -5.55M -3.31M -0.90M 0.47M -0.57M 0.01M 0.10M 0.00M 0.00M 0.00M 0.00M -0.05M 0.00M 0.00M -0.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 3.04M
Inventory -1.04M -6.36M -4.34M 0.23M -19.90M -20.67M -4.57M -5.73M -3.49M -1.30M -3.61M 1.52M -2.99M -3.37M -8.92M -12.80M -3.61M 1.92M -12.46M -11.01M -3.14M -1.07M -3.65M -2.20M -1.34M -1.76M -3.22M -3.26M -1.22M 2.87M -5.11M
Accounts Payable 0.00M 0.21M 3.89M 0.71M 21.10M 29.47M -1.19M 8.99M 5.19M 6.73M 6.90M 0.73M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.21M
Other Working Capital 0.68M -1.20M -0.72M -1.21M -0.07M 1.14M -1.05M 1.14M 1.56M 1.11M 1.64M 8.02M -1.03M 3.57M 4.78M 0.76M 2.92M 5.04M 4.31M 7.16M 2.31M 3.41M 10.17M 0.68M 0.55M -0.19M 0.91M -4.22M -1.67M 10.44M -1.15M
Other Non-Cash Items -0.81M -1.45M -7.63M -3.41M -0.69M -0.79M 5.70M 1.53M 0.30M -1.93M 1.73M -6.96M -2.56M -0.91M -2.27M 0.20M -1.65M 6.70M 12.22M 5.04M 10.25M 13.35M 9.56M 8.25M 9.21M 8.44M 3.41M 2.62M 0.94M 6.65M 3.08M
Net Cash from Operating Activities 127.37M 9.00M 282.21M 175.93M 197.79M 192.67M 175.30M 166.81M 164.42M 178.80M 168.04M 144.14M 142.64M 198.19M 160.68M 164.00M 155.37M 130.31M 96.13M 163.33M 186.81M 144.73M 178.58M 144.94M 124.31M 35.48M 21.53M 30.75M 21.49M 98.55M 118.45M
Capital Expenditures (PPE) -52.03M -9.03M -116.86M -78.87M -75.16M -68.75M -48.65M -67.16M -45.66M -79.08M -45.04M -56.59M -57.62M -62.37M -69.00M -70.90M -55.19M -38.19M -75.12M -85.57M -79.32M -80.38M -66.14M -66.83M -60.26M -32.86M -30.66M -16.02M -17.89M -7.55M -19.14M
Acquisitions (Net) 0.00M 0.01M 0.03M 0.09M 0.27M -2.68M -0.02M -1.44M 0.61M 2.49M 0.87M -0.31M -0.27M -7.11M -4.96M -6.19M -1.63M 0.03M -10.72M -6.93M 0.04M -2.93M -3.26M -4.88M 1.98M 1.96M 0.08M 0.31M 0.04M 10.77M 2.04M
Purchases of Investments 0.00M -0.15M -0.29M -0.13M -2.45M -2.09M -2.78M -2.43M -3.03M -9.01M -3.58M -3.30M -0.09M -0.24M -1.97M -1.07M -3.08M -2.38M -3.89M -5.87M -1.36M -7.55M -4.62M -9.99M -5.84M -7.79M -13.34M -5.08M -2.17M -1.18M -1.38M
Sales / Maturities of Investments 0.90M 0.04M 0.17M 0.07M 2.24M 0.52M 0.58M 1.13M 0.79M 2.79M 0.54M 4.46M 1.27M 1.57M 2.03M 1.82M 1.58M 1.62M 2.13M 3.23M 5.20M 2.19M 5.78M 2.26M 6.99M 7.84M 7.14M 9.36M 0.97M 8.20M 0.65M
Other Investing Activities 0.48M 0.93M 2.33M 0.79M 1.19M 1.99M 1.73M 6.30M 2.51M 4.10M 1.73M 4.36M 1.81M 3.14M 1.61M 7.73M 4.23M 0.06M 0.99M 4.04M 1.76M -1.34M -0.61M -1.96M -2.91M -20.80M -1.87M -0.78M -1.93M 41.15M 37.52M
Net Cash from Investing Activities -60.04M -7.86M -138.17M -123.81M -88.40M -109.66M -91.66M -75.18M -62.83M -50.10M -50.61M -52.37M -61.46M -75.30M -134.78M -93.00M -32.52M -35.56M -96.07M -109.70M -49.01M -91.93M -44.64M -86.15M -48.71M -54.39M -38.92M -18.25M -16.30M 36.70M 19.69M
Net Debt Issuance -7.78M 0.76M -6.64M -1.11M -1.53M -5.69M 0.06M -9.23M -16.46M -13.39M -6.08M -12.39M -7.34M -3.73M 25.69M 0.77M -4.42M -17.63M 13.87M 3.31M 2.79M 0.33M -6.77M 20.02M 4.35M -4.01M 2.86M -2.15M -5.09M 25.59M -13.60M
Long-Term Debt Issuance -2.84M 1.08M -3.69M 0.03M 0.30M -5.57M -0.92M -3.26M -15.92M -5.86M -2.98M -4.31M -7.18M -3.98M 9.07M 6.62M -4.42M -5.56M 13.61M 3.88M 2.41M 2.12M -3.65M 22.33M 4.35M -4.01M 2.86M -2.15M -5.09M 25.59M -13.60M
Short-Term Debt Issuance 0.00M -0.04M 0.00M 0.00M 0.00M 0.00M 0.00M -0.25M 0.00M 0.00M -0.18M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 0.00M 0.00M -1.25M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -0.02M 0.00M 0.00M 0.00M -1.08M 0.00M 0.00M 0.00M -0.11M 0.57M 0.00M 0.51M 0.00M 0.00M -0.88M 0.00M 0.00M 0.02M 0.12M 15.63M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.04M 0.62M 0.02M 0.29M 0.01M 0.01M 0.01M 0.00M 0.01M 0.20M 0.02M 0.00M 0.09M 0.43M 0.14M 0.63M 1.11M 0.68M 0.71M 0.61M 0.38M 1.72M 0.00M 0.30M 2.66M 5.35M 16.43M
Common Stock Repurchased 0.00M 0.00M -1.20M -0.02M -0.16M 0.00M 0.00M -0.02M 0.00M 0.00M 0.00M -0.39M 0.00M 0.00M 0.00M -1.67M 0.00M -0.02M 0.00M -0.11M -2.78M 0.00M 0.00M 0.00M 0.00M -0.99M 0.00M 0.00M 0.00M 0.00M -0.74M
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 -19.37M -1.37M -90.90M -57.60M -54.02M -46.41M -35.44M -41.94M -25.77M -27.08M -23.07M -27.15M -22.81M -27.32M -29.24M -35.63M -34.51M -16.81M -28.65M -18.07M -12.85M -18.81M -18.67M -23.69M -16.87M -15.33M -8.91M -6.82M -7.00M -4.99M -6.16M
Common Dividends Paid -23.17M -1.37M -85.92M -52.05M -48.48M -36.62M -36.68M -43.39M -25.75M -26.89M -23.06M -26.94M -22.53M -27.03M -27.55M -38.30M -37.15M -23.78M -30.00M -20.55M -12.33M -18.49M -18.09M -24.98M -16.87M -15.33M -8.91M -6.19M -7.00M -5.08M -6.16M
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 -14.69M -1.25M -19.20M -9.17M -5.57M -6.81M -4.13M -3.56M -4.23M -4.87M -3.90M -7.32M -8.08M -2.54M -5.22M -3.14M -2.06M -2.56M -1.15M 1.50M -1.71M 1.27M 1.32M 2.74M -0.39M 4.76M 1.05M 6.55M 2.11M 1.19M -39.35M
Net Cash from Financing Activities -69.52M 1.04M -194.30M -48.99M -61.91M -76.95M -26.31M -47.66M -43.48M -45.04M -33.36M -50.60M -42.34M -24.61M -12.53M -35.93M -35.40M -40.66M 10.05M -5.53M -19.94M -51.81M -23.23M -15.84M -12.19M -7.17M -1.48M 3.38M -1.83M 8.81M -43.48M
Effect of FX on Cash 0.29M 0.00M -0.01M -0.71M -0.50M 0.00M -0.17M 0.01M 0.13M 0.11M 0.00M -0.01M 0.00M -0.06M 0.00M 0.00M 0.01M -0.01M -0.01M -0.05M -0.01M 0.00M 0.01M -0.01M 0.00M 0.00M 0.00M 0.02M 0.00M -1.04M -74.62M
Net Change in Cash -0.40M 3.39M -16.93M 12.79M 7.04M -2.05M 47.25M 5.38M 8.26M 16.54M 12.03M -1.90M 8.85M 7.54M 6.12M -0.65M 31.12M 24.95M -8.40M 16.15M 4.62M 5.26M 0.05M 1.86M 2.99M -5.23M 3.67M 10.45M 3.57M 13.35M 20.04M
Cash at Beginning of Period 265.18M 24.47M 267.99M 205.56M 136.09M 161.11M 127.80M 136.35M 114.87M 110.18M 103.83M 101.81M 92.07M 59.88M 66.83M 151.26M 122.09M 75.57M 75.50M 64.97M 60.46M 70.59M 127.24M 64.52M 128.98M 55.48M 33.46M 28.54M 21.15M 41.85M 32.86M
Cash at End of Period 0.96M 26.26M 236.29M 227.22M 186.10M 140.93M 165.34M 127.34M 204.41M 120.20M 121.45M 103.82M 101.64M 123.84M 125.71M 180.44M 151.25M 122.09M 68.52M 79.81M 87.41M 66.25M 84.43M 83.34M 61.33M 44.83M 44.02M 37.46M 27.82M 52.74M 52.90M
Operating Cash Flow 126.08M 9.00M 282.21M 175.92M 197.19M 222.89M 198.15M 166.85M 164.42M 178.80M 168.04M 144.14M 142.64M 198.19M 160.68M 164.00M 155.37M 130.31M 96.13M 163.33M 186.81M 144.73M 178.58M 144.94M 124.31M 35.48M 21.53M 30.75M 21.49M 98.55M 118.45M
Capital Expenditure -51.36M -9.01M -117.61M -79.06M -75.16M -68.75M -52.95M -67.16M -45.66M -79.15M -45.16M -56.70M -57.73M -62.21M -69.14M -71.07M -55.59M -38.58M -75.12M -85.61M -79.32M -80.38M -66.12M -66.83M -60.26M -32.86M -30.66M -16.02M -17.89M -7.55M -19.14M
Free Cash Flow 60.24M 0.20M 170.19M 101.94M 123.35M 156.43M 132.69M 105.99M 122.80M 100.70M 97.76M 56.38M 29.25M 97.78M 32.92M 36.16M 89.87M 93.72M 26.76M 17.25M 57.75M 37.43M 102.59M 41.49M 58.03M 6.92M 6.36M 9.49M 5.72M 81.94M 99.31M

Industry Free Cash Flow

Metric TTM 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996
EBITDA 94.00M 17.06M 406.34M 343.72M 210.69M 175.61M 142.47M 134.62M 183.80M 155.90M 112.41M 169.47M 195.60M 212.42M 206.34M 213.37M 212.72M 155.37M 163.23M 181.08M 250.15M 218.80M 205.73M 173.12M 129.39M 53.46M 43.62M 36.34M 36.35M 46.79M 9.99M
(-) Tax Adjustment 28.32M 1.96M 104.30M 53.22M 62.34M 34.77M 63.22M 44.94M 53.10M 26.87M 26.61M 43.36M 40.95M 44.91M 61.35M 39.64M 41.84M 10.66M 25.68M 25.82M 46.25M 53.55M 53.26M 44.68M 22.37M 10.29M 9.82M 5.73M 6.13M 5.81M 2.21M
(-) Change In Working Capital 7.06M -6.05M -9.99M -5.85M -4.59M 10.32M 10.86M -1.17M -2.11M 1.26M 3.21M 9.17M -1.08M 0.04M 1.77M -3.72M -2.04M 9.03M -12.62M -5.46M -4.30M -1.57M 0.59M 1.66M -1.90M -6.51M -3.78M -8.71M -3.29M 8.23M -2.97M
(-) Capital Expenditure 31.40M 9.01M 117.61M 79.06M 75.16M 68.75M 52.95M 67.16M 45.66M 79.15M 45.16M 56.70M 57.73M 62.21M 69.14M 71.07M 55.59M 38.58M 75.12M 85.61M 79.32M 80.38M 66.12M 66.83M 60.26M 32.86M 30.66M 16.02M 17.89M 7.55M 19.14M
Unlevered Free Cash Flow 27.21M 12.13M 194.42M 217.29M 77.78M 61.77M 15.44M 23.69M 87.15M 48.63M 37.43M 60.24M 98.00M 105.26M 74.09M 106.38M 117.33M 97.11M 75.04M 75.11M 128.88M 86.45M 85.76M 59.95M 48.66M 16.82M 6.92M 23.30M 15.62M 25.20M -8.39M
(-) Net Interest Income After Taxes -1.05M -0.56M -0.56M 0.12M 1.81M -0.93M -1.26M -2.13M -2.66M -4.70M -3.41M -4.71M -4.30M -5.46M -5.52M -8.59M -11.69M -7.00M -13.46M -8.79M -21.48M -18.03M -11.66M -1.51M -2.66M -1.60M -1.13M -0.83M -0.56M -0.51M -0.36M
Net Debt Issuance -2.05M 0.76M -6.64M -1.11M -1.53M -5.69M 0.06M -9.23M -16.46M -13.39M -6.08M -12.39M -7.34M -3.73M 25.69M 0.77M -4.42M -17.63M 13.87M 3.31M 2.79M 0.33M -6.77M 20.02M 4.35M -4.01M 2.86M -2.15M -5.09M 25.59M -13.60M
Levered Free Cash Flow 26.21M 13.45M 188.34M 216.07M 74.44M 57.01M 16.76M 16.59M 73.35M 39.94M 34.76M 52.56M 94.96M 106.99M 105.30M 115.74M 124.59M 86.47M 102.37M 87.21M 153.16M 104.80M 90.65M 81.48M 55.67M 14.41M 10.92M 21.99M 11.08M 51.30M -21.64M