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Definitive Analysis

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CBNK

Industry Analysis

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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 6.38 9.43 15.83 12.87 12.23 13.50 10.52 11.11 10.15 11.89 10.14 9.91 10.30 12.18 11.25 10.30 13.64 12.01 10.04 21.09 23.01 19.49 27.01 24.75 19.18 18.28 18.32 16.56 19.89 20.79 13.90
Market Capitalization 829.57M 2,368.04M 28,221.83M 23,553.96M 22,762.91M 23,378.82M 21,651.96M 24,450.73M 20,861.82M 23,414.12M 19,760.68M 20,306.03M 19,746.17M 17,187.53M 15,633.63M 12,533.07M 13,327.28M 11,343.91M 6,505.73M 11,316.93M 10,921.15M 8,666.01M 7,189.80M 4,414.08M 3,361.51M 1,961.91M 1,712.43M 1,230.70M 1,021.15M 784.04M 466.22M
(-) Cash & Equivalents 185.05M 4,772.92M 31,487.40M 30,678.44M 29,191.36M 30,253.84M 29,232.04M 21,802.04M 21,423.56M 21,634.84M 16,856.29M 12,671.12M 12,558.24M 11,298.84M 10,980.00M 9,162.69M 6,923.75M 6,431.01M 5,805.72M 4,253.89M 3,453.95M 2,661.30M 1,557.84M 1,499.01M 1,093.51M 731.26M 488.43M 402.10M 264.57M 186.61M 161.88M
(+) Total Debt 1,950.77M 4,355.46M 66,072.33M 55,268.88M 48,593.69M 47,349.04M 39,982.90M 36,100.37M 31,189.62M 32,271.85M 26,233.49M 24,941.75M 18,436.25M 15,757.08M 15,572.49M 14,624.88M 10,988.48M 12,088.38M 12,316.05M 11,339.83M 8,400.52M 7,407.78M 6,546.03M 3,285.22M 1,791.80M 1,339.35M 1,058.94M 889.88M 635.94M 425.86M 308.88M
Enterprise Value 2,595,283,880.00 1,738,813,053.84 61,007,647,296.12 49,036,407,634.22 41,241,248,058.86 45,053,468,450.02 38,772,202,025.66 43,935,381,313.24 33,070,937,903.61 33,320,563,674.17 28,501,131,584.35 29,056,862,505.15 24,923,672,209.17 24,511,387,764.56 22,215,475,077.28 21,887,864,273.13 19,759,333,864.28 18,160,420,317.75 14,137,093,496.36 20,800,577,282.31 16,150,621,389.76 13,545,010,324.36 12,192,710,186.52 7,047,134,163.69 3,877,452,694.52 2,624,959,401.89 2,140,825,679.69 1,581,005,039.14 1,363,693,370.06 1,148,221,310.57 648,305,257.59

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 1,598.74M 1,697.04M 21,565.20M 19,832.37M 14,367.53M 13,766.35M 12,732.01M 13,242.51M 11,899.69M 11,075.96M 10,503.31M 10,014.33M 9,731.90M 8,742.14M 8,231.90M 6,805.43M 5,576.10M 5,531.79M 5,363.37M 4,665.85M 3,803.94M 3,084.69M 2,455.93M 1,588.90M 1,108.07M 816.25M 625.36M 437.76M 341.91M 276.16M 232.63M
Cost of Revenue 334.21M 645.19M 8,502.82M 7,357.99M 4,129.35M 2,998.71M 3,137.13M 2,916.64M 2,622.22M 2,516.19M 2,341.48M 2,280.21M 2,361.09M 2,294.74M 2,371.67M 2,186.89M 1,582.09M 1,764.42M 2,059.02M 1,494.45M 1,050.29M 786.60M 492.06M 321.12M 222.56M 237.62M 235.85M 159.55M 136.54M 114.02M 99.63M
Gross Profit 1,264.53M 1,051.85M 13,062.38M 12,474.38M 10,238.18M 10,767.64M 9,594.88M 10,325.87M 9,277.47M 8,559.77M 8,161.83M 7,734.12M 7,370.81M 6,447.40M 5,860.23M 4,618.53M 3,994.02M 3,767.37M 3,304.35M 3,171.41M 2,753.65M 2,298.09M 1,963.87M 1,267.78M 885.50M 578.63M 389.51M 278.21M 205.36M 162.13M 132.99M
Gross Margin 79.1% 62.0% 60.6% 62.9% 71.3% 78.2% 75.4% 78.0% 78.0% 77.3% 77.7% 77.2% 75.7% 73.8% 71.2% 67.9% 71.6% 68.1% 61.6% 68.0% 72.4% 74.5% 80.0% 79.8% 79.9% 70.9% 62.3% 63.6% 60.1% 58.7% 57.2%
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 98.36M 171.65M 1,746.71M 1,760.62M 1,793.78M 1,962.66M 1,370.12M 1,438.05M 1,182.03M 1,159.57M 1,071.72M 998.57M 986.23M 1,007.16M 930.15M 819.65M 776.55M 827.45M 791.59M 713.89M 603.51M 555.59M 451.33M 395.32M 242.42M 147.87M 146.81M 73.92M 63.93M 48.76M 43.23M
Operating Expenses 98.36M 171.65M 1,746.71M 1,760.62M 1,793.78M 1,962.66M 1,370.12M 1,438.05M 1,182.03M 1,159.57M 1,071.72M 998.57M 986.23M 1,007.16M 930.15M 819.65M 776.55M 827.45M 791.59M 713.89M 603.51M 555.59M 451.33M 395.32M 242.42M 147.87M 146.81M 73.92M 63.93M 48.76M 43.23M
Operating Income 1,166.18M 880.20M 11,315.67M 10,713.77M 8,444.40M 8,804.97M 8,224.76M 8,887.83M 8,095.43M 7,400.19M 7,090.11M 6,735.55M 6,384.58M 5,440.24M 4,930.08M 3,798.89M 3,217.46M 2,939.92M 2,512.76M 2,457.51M 2,150.14M 1,742.50M 1,512.53M 872.47M 643.08M 430.76M 242.70M 204.29M 141.43M 113.38M 89.76M
Operating Margin 72.9% 51.9% 52.5% 54.0% 58.8% 64.0% 64.6% 67.1% 68.0% 66.8% 67.5% 67.3% 65.6% 62.2% 59.9% 55.8% 57.7% 53.1% 46.9% 52.7% 56.5% 56.5% 61.6% 54.9% 58.0% 52.8% 38.8% 46.7% 41.4% 41.1% 38.6%
Interest Income 513.25M 1,230.36M 16,085.67M 13,399.86M 10,841.30M 8,827.61M 9,369.09M 9,581.29M 8,289.64M 7,596.89M 7,280.89M 6,905.07M 6,405.98M 6,111.69M 6,228.96M 5,692.35M 4,361.36M 4,185.05M 4,538.80M 3,861.90M 3,067.30M 2,351.15M 1,555.48M 1,212.11M 901.47M 659.49M 521.89M 362.87M 299.37M 214.12M 187.99M
Interest Expense 280.43M 657.98M 8,889.08M 7,252.70M 4,277.71M 3,250.97M 3,516.89M 4,064.65M 3,536.96M 3,193.57M 3,159.77M 2,974.96M 2,782.47M 2,733.95M 2,690.80M 2,287.64M 1,763.90M 1,788.87M 2,323.73M 2,002.36M 1,551.17M 1,116.06M 567.57M 508.51M 406.88M 326.38M 268.27M 181.35M 148.30M 112.72M 96.92M
Net Interest Income 232.81M 572.39M 7,196.58M 6,147.16M 6,563.59M 5,576.65M 5,852.21M 5,516.64M 4,752.67M 4,403.33M 4,121.12M 3,930.11M 3,623.51M 3,377.74M 3,538.16M 3,404.71M 2,597.46M 2,396.17M 2,215.07M 1,859.54M 1,516.13M 1,235.09M 987.91M 703.60M 494.59M 333.11M 253.62M 181.52M 151.07M 101.40M 91.07M
Other Income / Expense -1,090.21M -1,151.66M -13,962.89M -12,678.87M -11,207.89M -10,767.53M -11,804.15M -11,436.33M -10,088.02M -9,152.16M -8,771.94M -8,617.50M -8,073.73M -6,992.54M -6,763.91M -5,742.35M -4,693.85M -4,434.18M -3,969.74M -3,151.07M -2,630.71M -2,149.97M -1,859.05M -1,185.66M -854.38M -603.47M -348.73M -290.10M -217.09M -160.84M -128.80M
Pre-Tax Income 308.78M 300.93M 4,549.37M 4,182.05M 3,800.09M 3,614.09M 2,272.81M 2,968.14M 2,760.09M 2,651.36M 2,439.29M 2,048.17M 1,934.36M 1,825.45M 1,704.33M 1,461.25M 1,121.07M 901.91M 758.09M 1,165.98M 1,035.56M 827.62M 641.40M 390.41M 283.28M 160.40M 147.60M 95.71M 75.42M 53.93M 52.02M
Pre-Tax Margin 19.3% 17.7% 21.1% 21.1% 26.4% 26.3% 17.9% 22.4% 23.2% 23.9% 23.2% 20.5% 19.9% 20.9% 20.7% 21.5% 20.1% 16.3% 14.1% 25.0% 27.2% 26.8% 26.1% 24.6% 25.6% 19.7% 23.6% 21.9% 22.1% 19.5% 22.4%
Income Tax Expense 68.97M 73.18M 809.84M 752.30M 736.18M 648.64M 380.11M 526.47M 496.77M 494.02M 491.01M 413.81M 475.49M 465.66M 406.64M 312.12M 261.48M 172.52M 158.35M 309.71M 236.51M 217.21M 161.41M 105.74M 81.78M 45.97M 41.45M 29.03M 23.41M 17.88M 16.11M
Tax Rate 22.3% 24.3% 17.8% 18.0% 19.4% 17.9% 16.7% 17.7% 18.0% 18.6% 20.1% 20.2% 24.6% 25.5% 23.9% 21.4% 23.3% 19.1% 20.9% 26.6% 22.8% 26.2% 25.2% 27.1% 28.9% 28.7% 28.1% 30.3% 31.0% 33.1% 31.0%
Net Income 239.82M 227.75M 3,739.53M 3,429.75M 3,063.91M 2,965.45M 1,892.70M 2,441.67M 2,263.32M 2,157.33M 1,948.28M 1,634.36M 1,458.87M 1,359.79M 1,297.69M 1,149.12M 859.60M 729.40M 599.74M 856.27M 799.05M 610.41M 479.99M 284.66M 201.50M 114.43M 106.14M 66.69M 52.00M 36.05M 35.92M
Net Margin 15.0% 13.4% 17.3% 17.3% 21.3% 21.5% 14.9% 18.4% 19.0% 19.5% 18.5% 16.3% 15.0% 15.6% 15.8% 16.9% 15.4% 13.2% 11.2% 18.4% 21.0% 19.8% 19.5% 17.9% 18.2% 14.0% 17.0% 15.2% 15.2% 13.1% 15.4%
EBIT 1,166.18M 880.20M 11,315.67M 10,713.77M 8,444.40M 8,804.97M 8,224.76M 8,887.83M 8,095.43M 7,400.19M 7,090.11M 6,735.55M 6,384.58M 5,440.24M 4,930.08M 3,798.89M 3,217.46M 2,939.92M 2,512.76M 2,457.51M 2,150.14M 1,742.50M 1,512.53M 872.47M 643.08M 430.76M 242.70M 204.29M 141.43M 113.38M 89.76M
Depreciation & Amortization 1.87M 33.17M 343.60M 382.68M 360.95M 358.52M 322.46M 317.69M 246.35M 234.72M 220.24M 210.25M 192.32M 190.37M 181.85M 178.45M 153.24M 143.84M 133.98M 125.09M 110.44M 126.98M 108.56M 90.40M 62.84M 39.37M 28.43M 17.26M 14.51M 8.84M 7.62M
EBITDA 1,168.04M 913.37M 11,659.27M 11,096.44M 8,805.35M 9,163.50M 8,547.21M 9,205.51M 8,341.78M 7,634.91M 7,310.35M 6,945.80M 6,576.90M 5,630.61M 5,111.93M 3,977.34M 3,370.70M 3,083.76M 2,646.74M 2,582.61M 2,260.58M 1,869.48M 1,621.09M 962.86M 705.92M 470.13M 271.13M 221.55M 155.94M 122.22M 97.38M
EBITDA Margin 73.1% 53.8% 54.1% 56.0% 61.3% 66.6% 67.1% 69.5% 70.1% 68.9% 69.6% 69.4% 67.6% 64.4% 62.1% 58.4% 60.4% 55.7% 49.3% 55.4% 59.4% 60.6% 66.0% 60.6% 63.7% 57.6% 43.4% 50.6% 45.6% 44.3% 41.9%
NOPAT 905.71M 666.16M 9,301.35M 8,786.49M 6,808.48M 7,224.69M 6,849.22M 7,311.37M 6,638.39M 6,021.32M 5,662.92M 5,374.70M 4,815.16M 4,052.47M 3,753.81M 2,987.44M 2,467.03M 2,377.58M 1,987.88M 1,804.75M 1,659.07M 1,285.17M 1,131.89M 636.15M 457.43M 307.30M 174.54M 142.33M 97.53M 75.79M 61.97M
NOPAT Margin 56.7% 39.3% 43.1% 44.3% 47.4% 52.5% 53.8% 55.2% 55.8% 54.4% 53.9% 53.7% 49.5% 46.4% 45.6% 43.9% 44.2% 43.0% 37.1% 38.7% 43.6% 41.7% 46.1% 40.0% 41.3% 37.6% 27.9% 32.5% 28.5% 27.4% 26.6%
Owner's Earnings 241.69M 260.92M 4,083.12M 3,812.43M 3,424.86M 3,323.97M 2,215.15M 2,759.36M 2,509.67M 2,392.05M 2,168.51M 1,844.61M 1,651.19M 1,550.16M 1,479.54M 1,327.58M 1,012.84M 873.24M 733.72M 981.36M 909.49M 737.38M 588.55M 375.06M 264.34M 153.80M 134.57M 83.94M 66.52M 44.89M 43.54M
Owner's Earnings Margin 15.1% 15.4% 18.9% 19.2% 23.8% 24.1% 17.4% 20.8% 21.1% 21.6% 20.6% 18.4% 17.0% 17.7% 18.0% 19.5% 18.2% 15.8% 13.7% 21.0% 23.9% 23.9% 24.0% 23.6% 23.9% 18.8% 21.5% 19.2% 19.5% 16.3% 18.7%
EPS 0.37 0.34 0.67 0.66 0.43 0.44 0.32 0.36 0.36 0.37 0.31 0.27 0.24 0.24 0.26 0.24 0.20 0.16 0.16 0.25 0.23 0.20 0.25 0.19 0.34 0.43 0.47 0.83 0.94 0.93 1.05
EPS (Diluted) 0.37 0.34 0.67 0.66 0.43 0.44 0.32 0.36 0.36 0.37 0.31 0.27 0.24 0.24 0.26 0.24 0.20 0.16 0.16 0.25 0.23 0.20 0.25 0.19 0.34 0.43 0.47 0.83 0.94 0.93 1.05
Shares (Diluted) 653.94M 673.68M 5,621.39M 5,187.70M 7,149.05M 6,747.34M 5,892.98M 6,742.65M 6,203.74M 5,910.27M 6,266.35M 6,086.30M 6,022.44M 5,630.23M 5,064.32M 4,695.71M 4,224.08M 4,642.37M 3,723.75M 3,440.73M 3,403.58M 3,059.15M 1,951.84M 1,491.04M 595.21M 264.54M 225.14M 80.63M 55.51M 38.90M 34.31M

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 185.05M 4,772.92M 32,134.47M 31,169.15M 29,374.01M 30,461.05M 29,238.53M 21,802.16M 21,424.23M 21,634.85M 16,856.29M 12,671.12M 12,558.24M 11,298.84M 10,980.00M 10,237.39M 6,926.82M 6,432.36M 5,881.68M 4,287.91M 3,456.54M 2,697.10M 1,572.03M 1,511.91M 1,118.54M 737.82M 492.71M 402.10M 264.57M 185.24M 161.88M
Short-Term Investments 63.65M 18.33M 9,789.84M 6,712.04M 12,074.29M 15,046.51M 12,302.29M 10,634.01M 6,609.80M 8,195.88M 6,003.43M 6,504.62M 6,475.26M 6,492.95M 5,304.92M 5,528.35M 2,743.93M 2,998.63M 1,198.57M 1,421.30M 1,025.15M 575.97M 186.52M 65.87M 55.56M 90.50M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 248.70M 4,791.25M 41,924.31M 37,881.19M 41,448.30M 45,507.57M 41,540.82M 32,436.17M 28,034.02M 29,830.73M 22,859.73M 19,175.74M 19,033.50M 17,791.78M 16,284.93M 15,765.74M 9,670.74M 9,430.99M 7,080.25M 5,709.21M 4,481.70M 3,273.08M 1,758.56M 1,577.78M 1,174.10M 828.31M 492.71M 402.10M 264.57M 185.24M 161.88M
Net Receivables 0.22M 263.17M 3,121.07M 2,382.50M 2,723.22M 2,710.16M 3,296.49M 2,553.52M 2,978.93M 4,358.25M 4,294.22M 3,647.13M 4,304.91M 3,803.80M 2,717.06M 1,633.34M 741.14M 1,013.49M 1,259.02M 921.87M 562.03M 358.49M 44.10M 57.05M 43.18M 26.26M 31.74M 25.75M 15.76M 13.18M 10.10M
Inventory 0.00M 0.00M 0.00M 0.00M -1,052.94M 0.00M 0.00M -934.26M -2,838.56M -2,772.30M -2,068.75M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Assets 8,115.48M 0.00M 0.00M 146.92M 1,679.95M 1,090.19M 157.04M 677.22M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 8,364.40M 5,054.43M 45,045.38M 40,410.61M 44,798.53M 49,307.92M 44,994.35M 34,732.64M 28,174.40M 31,416.69M 25,085.20M 22,822.87M 23,338.41M 21,595.59M 19,001.99M 17,399.08M 10,411.88M 10,444.48M 8,339.27M 6,631.08M 5,043.73M 3,631.56M 1,802.66M 1,634.83M 1,217.27M 854.57M 524.44M 427.85M 280.33M 198.43M 171.98M
Property, Plant & Equipment 89.31M 270.21M 2,423.99M 2,594.82M 2,574.12M 2,482.58M 2,317.12M 2,182.98M 1,712.21M 1,595.12M 1,498.93M 1,415.78M 1,293.01M 1,232.46M 1,090.14M 1,035.70M 871.83M 833.06M 868.91M 752.48M 723.41M 701.38M 597.16M 430.35M 290.97M 203.61M 166.90M 127.86M 80.81M 53.08M 43.54M
Goodwill 9.32M 2.52M 973.45M 940.99M 884.20M 868.49M 794.16M 669.35M 713.12M 695.80M 691.92M 578.45M 762.98M 785.31M 788.21M 662.06M 664.68M 639.23M 651.59M 373.12M 236.34M 116.56M 14.06M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.22M 27.53M 723.80M 573.22M 669.33M 658.34M 559.16M 580.48M 516.47M 467.43M 393.04M 320.22M 307.21M 304.97M 324.67M 285.73M 232.24M 250.92M 233.65M 167.07M 72.55M 59.18M 31.73M 27.49M 16.04M 7.12M 7.50M 4.92M 3.44M 2.29M 1.29M
Long-Term Investments 8,111.96M 25,541.62M 162,735.12M 101,147.03M 132,823.76M 116,679.18M 112,760.23M 96,676.42M 85,881.16M 72,910.19M 69,172.66M 56,375.73M 52,516.92M 49,829.52M 45,330.37M 47,518.58M 40,178.74M 41,607.89M 37,876.63M 27,085.31M 24,108.34M 18,596.07M 12,810.10M 9,024.72M 6,103.82M 4,882.74M 4,427.13M 3,541.44M 2,888.84M 2,338.70M 2,072.17M
Tax Assets 23.83M 17.92M 1,047.53M 362.33M 1,482.94M 1,233.95M 1,091.15M 1,262.66M 954.12M 886.10M 557.96M 301.76M 54.73M 135.99M 48.07M 67.01M 47.67M 36.94M 14.85M 4.81M 11.41M 7.70M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets -8,121.51M 10,783.55M 158,423.11M 158,839.22M 54,239.08M 51,477.85M 62,129.91M 23,514.22M 21,151.01M 17,051.93M 11,455.79M 17,304.83M 10,799.69M 15,196.12M -716.54M 11,083.74M 5,610.53M 6,477.97M 2,470.22M 1,661.25M 3,097.16M 1,902.22M 2,383.11M -548.30M -23.27M 214.09M 182.78M 159.60M 110.73M 66.58M 49.79M
Other Assets 1,301.16M 0.00M 0.00M 2,071.84M 49,090.22M 51,260.48M 37,831.41M 43,495.05M 42,296.21M 34,800.90M 35,521.33M 34,377.27M 29,113.28M 25,085.54M 33,846.67M 13,793.91M 14,271.56M 12,864.72M 17,599.81M 13,609.37M 9,008.50M 9,166.64M 6,395.75M 9,305.34M 4,420.50M 996.42M 132.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 1,414.30M 36,643.35M 326,327.00M 266,529.46M 241,763.64M 224,660.86M 217,483.14M 168,381.17M 153,224.30M 128,407.46M 119,291.62M 110,674.04M 94,847.82M 92,569.91M 80,711.60M 74,446.74M 61,877.25M 62,710.72M 59,715.66M 43,653.41M 37,257.71M 30,549.75M 22,231.90M 18,239.59M 10,808.05M 6,303.98M 4,916.31M 3,833.82M 3,083.81M 2,460.65M 2,166.79M
Total Assets 9,778.70M 41,697.78M 371,372.38M 306,940.07M 286,562.17M 273,968.78M 262,477.48M 203,113.82M 181,398.70M 159,824.15M 144,376.82M 133,496.92M 118,186.23M 114,165.50M 99,713.59M 91,845.82M 72,289.13M 73,155.20M 68,054.93M 50,284.49M 42,301.44M 34,181.31M 24,034.55M 19,874.42M 12,025.33M 7,158.55M 5,440.75M 4,261.67M 3,364.14M 2,659.07M 2,338.77M
Accounts Payable 0.00M 20.52M 428.12M 366.74M 473.49M 269.29M 253.63M 318.69M 488.44M 846.64M 754.30M 701.94M 645.66M 629.12M 601.32M 466.92M 373.69M 284.42M 328.32M 309.70M 163.45M 115.22M 26.46M 5.54M 5.82M 5.68M 4.90M 3.32M 1.79M 1.71M 0.78M
Short-Term Debt 425.00M 255.59M 8,250.80M 4,225.59M 4,462.20M 3,086.60M 2,791.04M 241.98M 187.79M 92.52M 62.52M 128.88M 182.29M 425.00M 262.47M 333.63M 582.05M 566.03M 927.22M 976.46M 1,108.50M 1,333.64M 1,283.02M 894.30M 455.44M 643.12M 606.05M 498.83M 314.45M 258.93M 200.97M
Tax Payables 0.00M 0.00M 248.12M 243.06M 355.96M 290.32M 270.75M 325.38M 239.49M 251.65M 210.62M 193.46M 178.77M 136.98M 141.53M 108.35M 75.67M 43.38M 45.55M 72.86M 66.67M 37.74M 10.25M 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 0.32M 1.61M 0.00M 0.83M 0.10M 0.20M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 6,166.45M 27,788.15M 202,490.56M 106,658.29M 94,984.36M 99,841.70M 82,046.41M 72,373.01M 56,832.98M 56,577.26M 48,765.43M 34,151.93M 33,868.13M 37,044.22M 29,246.17M 36,840.95M 32,601.14M 34,536.71M 26,859.73M 20,660.63M 20,439.03M 17,034.93M 11,388.95M 5,004.43M 4,164.55M 3,056.12M 3,625.42M 3,290.15M 2,636.69M 1,977.25M 1,748.34M
Total Current Liabilities 6,591.45M 28,064.26M 211,417.60M 111,493.68M 100,276.33M 103,489.52M 85,361.83M 73,259.90M 57,748.80M 57,768.27M 49,792.87M 35,176.20M 34,874.86M 38,235.33M 30,251.48M 37,749.85M 33,632.55M 35,430.54M 28,160.82M 22,019.65M 21,777.65M 18,521.54M 12,708.69M 5,904.28M 4,625.81M 3,704.93M 4,236.36M 3,792.30M 2,952.94M 2,237.88M 1,950.09M
Long-Term Debt 1,950.77M 3,554.61M 39,969.37M 28,875.35M 33,782.74M 32,958.17M 27,064.16M 25,153.60M 22,400.42M 22,104.56M 18,721.03M 12,826.64M 11,138.85M 9,950.02M 8,441.25M 9,111.39M 6,764.62M 6,947.09M 6,885.78M 6,134.72M 4,956.95M 4,188.55M 3,804.77M 2,050.51M 1,398.23M 546.04M 373.60M 283.39M 196.90M 99.24M 70.41M
Capital Lease Obligations 1.06M 0.00M 0.00M 274.38M 316.92M 289.19M 197.54M 141.83M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 2.06M 0.43M 5.65M 65.94M 82.28M 57.64M 65.61M 81.33M 90.21M 59.28M 50.26M 23.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 186.75M 13,990.66M 82,454.30M 71,220.97M 38,267.07M 29,972.70M 47,173.63M 13,096.58M 19,570.84M 13,471.63M 10,239.48M 9,530.22M 8,578.29M 8,678.03M 3,636.73M 4,171.17M 3,147.08M 3,159.41M 1,951.46M 2,709.93M 2,189.95M 1,889.32M 3,004.57M 312.82M 108.04M 59.28M 65.55M 42.03M 42.54M 28.08M 23.36M
Total Non-Current Liabilities 2,140.64M 17,545.71M 122,429.32M 100,436.64M 72,449.01M 63,277.70M 74,500.93M 38,473.34M 42,061.47M 35,635.47M 29,010.78M 22,379.97M 19,717.15M 18,628.05M 12,077.98M 13,282.56M 9,911.70M 10,106.50M 8,837.24M 8,844.65M 7,146.90M 6,077.87M 6,809.34M 2,363.34M 1,506.27M 605.31M 439.15M 325.42M 239.43M 127.32M 93.77M
Total Liabilities 8,732.09M 45,609.97M 333,846.93M 211,930.32M 172,725.34M 166,767.21M 159,862.76M 111,733.24M 99,810.27M 93,403.74M 78,803.65M 57,556.17M 54,592.00M 56,863.38M 42,329.47M 51,032.42M 43,544.25M 45,537.04M 36,998.06M 30,864.29M 28,924.54M 24,599.40M 19,518.02M 8,267.61M 6,132.08M 4,310.24M 4,675.51M 4,117.72M 3,192.37M 2,365.20M 2,043.86M
Preferred Stock 0.00M 0.00M 484.04M 515.08M 698.05M 622.78M 747.02M 783.02M 409.64M 352.04M 248.75M 62.34M 55.71M 80.89M 27.65M 8.31M 10.04M 12.22M 31.46M 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 1.32M 209.04M 2,140.86M 2,171.27M 2,205.98M 2,420.66M 2,434.73M 2,527.18M 2,229.76M 1,971.90M 1,772.73M 1,661.64M 1,803.17M 1,635.65M 1,583.75M 1,269.47M 1,203.71M 1,131.30M 985.20M 908.90M 806.66M 753.46M 651.93M 414.74M 270.88M 138.25M 114.26M 98.05M 17.96M 0.00M 0.00M
Retained Earnings -87.33M 1,202.94M 15,180.19M 14,338.86M 13,256.77M 12,660.14M 11,181.26M 10,660.29M 9,477.56M 9,124.86M 7,050.05M 6,177.45M 5,188.18M 4,273.85M 3,386.39M 2,645.93M 1,956.01M 1,918.11M 1,727.02M 1,596.30M 1,067.00M 940.80M 739.85M 566.64M 392.77M 303.85M 280.76M 198.13M 167.48M 128.12M 105.73M
Accumulated OCI 15.76M 212.53M 1,026.26M 999.94M 1,305.60M 1,448.82M 1,227.79M 1,263.58M 629.33M 571.46M 935.39M 697.31M 66.19M -52.58M 0.00M -15.29M -3.80M -2.29M -4.67M 6.62M 8.24M -7.75M 6.78M 9.08M 21.26M 9.99M 1.66M -10.59M 4.02M 3.07M 0.89M
Minority Interest 0.00M 4.41M 409.16M 314.72M 295.82M 303.11M 229.07M 225.27M 199.04M 204.04M 197.78M 179.51M 175.19M 138.66M 142.57M 142.93M 153.99M 143.36M 117.75M 78.76M 62.01M 42.45M 22.02M 9.61M 13.95M 1.31M 3.74M 1.07M 0.00M 0.00M 0.00M
Total Shareholders’ Equity -70.25M 1,624.50M 18,831.35M 18,025.15M 17,466.40M 17,152.39M 15,590.80M 15,234.07M 12,746.29M 12,020.26M 10,006.92M 8,598.74M 7,113.25M 5,937.81M 4,997.78M 3,908.43M 3,165.95M 3,059.34M 2,739.01M 2,511.81M 1,881.90M 1,686.52M 1,398.56M 990.46M 684.91M 452.09M 396.67M 285.60M 189.46M 131.19M 106.62M
Total Equity -70.25M 1,628.92M 19,240.51M 18,339.87M 17,762.22M 17,455.50M 15,819.87M 15,459.34M 12,945.32M 12,224.30M 10,204.70M 8,778.25M 7,288.44M 6,076.47M 5,140.35M 4,051.36M 3,319.94M 3,202.70M 2,856.75M 2,590.57M 1,943.91M 1,728.97M 1,420.59M 1,000.08M 698.86M 453.40M 400.40M 286.66M 189.46M 131.19M 106.62M
Total Liabilities & Equity 8,661.83M 47,238.88M 353,087.44M 230,270.19M 190,487.55M 184,222.71M 175,682.63M 127,192.58M 112,755.59M 105,628.04M 89,008.35M 66,334.42M 61,880.44M 62,939.84M 47,469.82M 55,083.78M 46,864.19M 48,739.74M 39,854.82M 33,454.86M 30,868.45M 26,328.37M 20,938.61M 9,267.69M 6,830.94M 4,763.65M 5,075.91M 4,404.39M 3,381.83M 2,496.39M 2,150.48M
Tangible Assets 9,769.15M 41,667.74M 369,675.12M 305,425.86M 285,008.64M 272,441.95M 261,124.17M 201,863.98M 180,169.11M 158,660.92M 143,291.86M 132,598.25M 117,116.04M 113,075.22M 98,600.70M 90,898.03M 71,392.21M 72,265.06M 67,169.70M 49,744.30M 41,992.55M 34,005.57M 23,988.77M 19,846.93M 12,009.28M 7,151.43M 5,433.25M 4,256.75M 3,360.71M 2,656.78M 2,337.48M
Tangible Equity -79.80M 1,598.87M 17,543.26M 16,825.67M 16,208.69M 15,928.67M 14,466.55M 14,209.51M 11,715.73M 11,061.07M 9,119.74M 7,879.58M 6,218.25M 4,986.18M 4,027.46M 3,103.57M 2,423.03M 2,312.56M 1,971.52M 2,050.38M 1,635.02M 1,553.23M 1,374.81M 972.58M 682.82M 446.28M 392.91M 281.74M 186.02M 128.90M 105.33M
Tangible Book Value -79,801,000.00 1,598,874,436.03 17,543,256,192.50 16,825,665,731.12 16,208,688,817.70 15,928,672,273.29 14,466,551,244.64 14,209,511,386.28 11,715,729,700.74 11,061,073,930.25 9,119,739,289.85 7,879,583,387.71 6,218,250,182.98 4,986,184,386.79 4,027,463,159.52 3,103,568,263.06 2,423,027,110.90 2,312,555,040.91 1,971,523,219.46 2,050,377,281.95 1,635,018,028.74 1,553,230,258.25 1,374,805,046.44 972,582,544.04 682,820,171.73 446,277,087.74 392,905,385.47 281,743,347.59 186,022,981.43 128,900,275.99 105,330,927.43
Total Investments 8,979.18M 25,700.83M 173,139.16M 112,306.24M 159,121.91M 129,559.74M 125,887.37M 106,358.28M 93,309.44M 81,657.94M 82,561.03M 69,503.33M 57,155.75M 56,322.05M 50,924.46M 51,501.16M 43,232.13M 45,427.36M 39,114.49M 27,480.00M 25,026.64M 19,224.87M 12,855.99M 9,080.81M 6,122.12M 4,906.92M 4,427.33M 3,541.44M 2,888.84M 2,338.70M 2,072.17M
Net Debt 2,190.72M -962.72M 16,085.70M 1,931.80M 8,870.93M 5,583.71M 616.67M 3,593.43M 1,163.98M 562.23M 1,927.26M 284.40M -1,237.09M -923.82M -2,276.28M -792.36M 419.85M 1,080.77M 1,931.32M 2,823.27M 2,608.90M 2,825.09M 3,515.76M 1,432.91M 735.14M 451.34M 486.94M 380.13M 246.78M 172.92M 109.50M

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 1,772.96M -25,049.56M -179,344.04M -85,970.29M -75,096.69M -87,446.86M -59,584.34M -39,811.66M -42,374.41M -32,606.87M -27,581.20M -18,483.00M -17,697.00M -15,306.67M -11,595.16M -25,573.59M -25,300.19M -27,356.72M -23,184.37M -18,773.28M -18,366.16M -16,989.71M -11,833.80M -4,422.35M -5,131.88M -3,375.63M -4,193.35M -3,647.14M -3,105.12M -2,154.57M -1,823.55M
Total Capital 2,998.45M 7,513.72M 97,893.61M 84,284.25M 75,291.58M 75,588.06M 66,095.79M 60,941.96M 52,817.59M 52,985.70M 44,286.70M 40,673.60M 32,618.94M 28,343.36M 26,715.81M 24,117.57M 19,282.97M 19,651.66M 18,785.47M 17,634.46M 13,322.06M 11,753.33M 10,525.74M 5,614.48M 3,437.26M 2,284.97M 1,730.34M 1,388.69M 1,001.12M 707.60M 561.48M
Capital Employed 3,187.25M 12,381.52M 161,034.76M 230,575.69M 224,869.26M 200,096.57M 205,336.08M 196,000.10M 160,380.70M 158,700.71M 156,065.57M 146,730.63M 139,204.04M 122,223.29M 120,083.60M 84,323.42M 69,565.77M 60,857.94M 60,200.81M 52,071.24M 40,647.02M 33,510.61M 31,811.01M 28,339.11M 15,508.93M 9,355.63M 4,269.76M 1,977.20M 1,286.75M 1,235.95M 808.18M
Invested Capital 2,813.39M 2,740.80M 65,759.14M 53,115.10M 45,917.57M 45,127.01M 36,857.26M 39,139.81M 31,393.37M 31,350.84M 27,430.41M 28,002.48M 20,060.70M 17,044.52M 15,735.81M 13,880.18M 12,356.15M 13,219.30M 12,903.79M 13,346.55M 9,865.52M 9,056.23M 8,953.71M 4,102.57M 2,318.73M 1,547.15M 1,237.63M 986.59M 736.55M 522.36M 399.60M

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 6.99M 18.81M 387.89M 456.28M 414.94M 388.71M 380.77M 319.17M 228.77M 221.20M 203.91M 191.89M 191.14M 179.17M 165.02M 149.72M 133.54M 131.85M 120.52M 97.54M 95.45M 98.10M 92.30M 79.49M 54.98M 38.00M 26.15M 15.75M 13.90M 7.83M 6.73M
Deferred Income Tax 1.97M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -5.43M 0.00M 0.00M 0.00M 0.00M 1.27M 0.90M -0.20M -0.02M -0.05M -0.07M 0.01M -0.11M
Stock-Based Compensation 300.82M 0.59M 2.71M 3.47M 5.56M 4.46M 10.65M 4.12M 0.20M 1.52M 0.81M 0.36M 0.45M 0.89M 0.08M 0.00M 0.00M 0.00M 0.00M 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 28.14M -239.67M -1,340.63M -1,301.50M 865.47M -1,691.91M 634.45M -1,128.76M -3,038.31M -1,996.31M -487.77M 206.84M -3.12M -341.26M -152.67M -876.60M -422.19M -121.76M 87.23M -394.76M -73.85M -246.38M -145.42M 84.50M 18.88M -4.94M 4.01M -0.63M -2.68M -0.94M -1.54M
Accounts Receivable 0.51M 0.00M -3.36M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable -0.32M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -12.28M -240.80M -861.47M -1,235.27M 1,950.71M -746.82M 1,406.15M -1,566.25M -2,853.86M -2,305.35M -874.13M -343.39M -971.68M -774.18M -69.95M 19.25M -63.86M 5.09M 220.78M -60.48M 43.41M -40.94M -26.12M 13.82M -0.21M -4.08M 2.06M -1.09M -2.48M -1.14M -1.22M
Other Non-Cash Items -492,417.27M -16.84M -25.72M 516.92M 553.88M 1,111.70M 794.23M 920.90M 502.03M 737.57M 674.97M 647.10M 306.27M 511.16M 691.58M 613.63M 657.13M 991.20M 610.44M 190.81M 194.50M 115.35M 227.48M 136.77M -2.53M 24.21M 12.82M 13.86M -0.55M 4.89M 5.44M
Net Cash from Operating Activities 64.09M -206.61M 1,535.69M 2,967.53M 6,178.43M 3,271.97M 3,426.93M 2,106.63M -182.19M 1,253.60M 2,756.95M 3,196.02M 2,015.65M 1,503.23M 2,091.72M 1,145.75M 1,112.19M 1,672.94M 1,722.78M 1,094.67M 1,236.97M 685.99M 818.30M 582.73M 370.87M 144.39M 181.32M 89.88M 54.95M 43.44M 38.23M
Capital Expenditures (PPE) -144,504.56M -39.57M -325.84M -333.39M -319.04M -323.62M -320.54M -293.14M -277.24M -262.00M -233.44M -242.23M -240.37M -223.04M -226.42M -195.00M -158.65M -139.49M -174.51M -151.76M -103.80M -88.68M -92.36M -67.44M -53.63M -32.25M -25.78M -18.28M -14.77M -9.30M -8.43M
Acquisitions (Net) -51.00M 0.57M -2.76M -5.36M -10.96M -31.68M -5.96M 5.52M 4.92M 5.20M 12.42M 4.28M 11.96M 0.53M 6.58M 5.86M 6.86M 11.11M -18.00M -21.19M -5.07M -11.18M -14.25M -2.03M -0.89M -2.86M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -34,138.88M -1,086.24M -12,820.94M -8,884.39M -15,853.22M -22,210.05M -24,178.22M -16,268.20M -11,919.77M -11,549.51M -9,404.49M -7,930.41M -5,446.00M -6,333.20M -5,702.80M -8,003.31M -7,105.14M -6,433.98M -5,764.78M -3,931.60M -2,706.28M -2,829.19M -2,732.40M -4,210.54M -2,339.30M -1,499.81M -588.22M -645.84M -689.97M -377.50M -402.92M
Sales / Maturities of Investments 10,239.10M 887.99M 10,875.68M 8,103.76M 16,347.70M 18,559.08M 19,575.64M 14,076.28M 14,490.90M 10,667.54M 9,718.92M 6,526.36M 4,519.65M 5,137.53M 4,997.25M 5,925.76M 6,082.54M 4,809.15M 4,738.48M 2,922.84M 2,414.07M 2,126.24M 2,348.71M 3,473.38M 1,928.38M 1,024.15M 772.48M 649.22M 606.69M 344.66M 373.58M
Other Investing Activities 168,416.12M -48.79M -713.86M -36.19M -2,170.19M -55.67M -811.35M -626.23M -228.78M -94.75M -120.56M -373.20M -636.85M -436.84M -595.35M -89.03M -44.50M -30.13M -526.13M -315.35M -541.91M -571.52M -898.32M -317.02M -159.02M -58.41M -394.60M -237.08M -171.86M -134.18M -136.43M
Net Cash from Investing Activities -113.09M -266.89M -3,500.05M -2,819.33M -5,163.29M -4,649.84M -5,272.02M -2,898.01M -1,243.02M -1,637.66M -2,970.28M -3,827.40M -3,126.51M -1,939.81M -1,953.76M -682.64M -915.98M -640.88M -2,263.40M -1,421.69M -1,248.31M -1,318.88M -1,426.88M -912.73M -560.52M -441.35M -385.89M -314.76M -284.87M -204.30M -135.12M
Net Debt Issuance -242.41M -30.82M 1,907.54M 449.97M 1,917.21M 875.56M -444.88M 800.89M 1,513.87M 1,548.62M 966.43M 610.90M 1,208.06M 371.58M 63.95M 278.30M -4.20M -149.73M 450.92M 788.69M 304.76M 213.29M 343.29M 206.47M 70.54M 77.52M 9.19M 155.09M 69.17M 80.52M 40.76M
Long-Term Debt Issuance -173.43M 25.67M 1,510.34M 783.20M 1,533.19M 847.68M -18.23M 450.43M 1,326.76M 956.70M 973.80M 842.44M 959.12M 285.47M -8.73M 300.70M -60.41M -180.38M 351.36M 608.87M 287.88M 215.39M 221.90M 122.88M 108.60M 74.99M 30.81M 44.03M 28.07M 28.40M 10.23M
Short-Term Debt Issuance -14.00M -10.24M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 7.71M 0.00M -8.04M 15.54M 0.00M 0.13M 22.03M 30.61M -5.24M 7.21M -30.95M 61.50M 32.50M 54.50M 20.05M
Net Stock Issuance -6.28M -3.02M -130.68M -36.03M -47.19M -5.54M 73.72M -0.18M -26.45M -14.33M -7.61M -12.36M 52.90M 23.20M 44.38M 59.55M 12.40M 183.49M 181.48M 11.17M 20.20M -3.61M -16.37M -7.79M -18.26M -6.70M -13.44M -11.89M -8.76M -5.58M -4.06M
Common Stock Issuance 0.00M 1.27M 10.54M 4.27M 31.60M 105.01M 95.88M 90.86M 72.32M 45.46M 79.09M 38.24M 70.14M 69.72M 33.02M 62.35M 30.87M 286.08M 87.38M 38.80M 50.92M 23.47M 14.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock Repurchased -6.28M -4.09M -195.44M -56.59M -66.27M -129.98M -36.94M -79.30M -75.91M -40.69M -34.26M -63.28M -22.85M -26.59M -2.28M -1.47M 0.00M 0.00M -1.87M -28.01M -18.94M -21.56M -43.28M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -80,008.28M -47.52M -1,499.08M -1,046.53M -948.19M -883.44M -713.06M -837.50M -805.86M -642.33M -535.50M -449.92M -421.91M -392.05M -311.66M -239.31M -201.61M -153.47M -309.11M -286.56M -227.12M -179.62M -127.48M -105.31M -69.68M -41.21M -30.95M -22.65M -14.78M -11.20M -9.77M
Common Dividends Paid -80,007.37M -47.37M -1,482.14M -1,041.97M -942.39M -876.41M -707.06M -829.40M -762.77M -614.75M -520.57M -432.58M -417.12M -374.90M -279.74M -225.96M -177.13M -149.59M -309.64M -321.12M -230.61M -180.17M -145.96M -94.23M -64.17M -41.21M -30.91M -22.69M -19.10M -11.15M -9.72M
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 80,435.80M 614.48M 1,251.89M 292.66M -179.65M 3,199.88M 4,118.73M 1,228.48M 271.75M 441.27M 857.25M 610.02M 730.17M 561.59M 847.64M 186.69M 67.99M 337.64M 768.45M 865.84M 282.78M 947.03M 608.45M 448.71M 267.85M 148.68M 284.86M 65.97M 143.43M 116.39M 90.05M
Net Cash from Financing Activities -36.14M 497.50M 2,361.98M -162.50M 1,152.11M 4,972.83M 4,502.85M 1,921.30M 1,342.90M 1,745.04M 1,802.52M 1,948.53M 1,708.46M 565.58M 640.48M 775.36M 30.69M 71.59M 1,269.30M 1,349.65M 620.32M 779.30M 754.38M 329.30M 285.88M 221.40M 276.01M 190.30M 205.49M 192.73M 112.60M
Effect of FX on Cash 0.00M 0.00M 113.26M 22.59M 61.92M 33.71M -27.68M 10.35M 43.03M -54.73M 18.44M 71.78M 23.10M -14.12M -6.03M -1.96M -5.36M -0.35M -4.35M -0.93M -1.34M -0.07M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 55.27M 180.73M -18.70M 794.65M 2,007.65M 1,358.89M 4,296.01M 329.14M 428.79M 729.96M 733.19M 610.18M 520.62M 304.79M 386.12M 1,021.03M 163.00M 809.96M 533.81M 724.43M 359.38M 302.52M 62.36M 13.61M 80.67M 36.97M 43.54M 3.42M 2.16M 7.10M -111.46M
Cash at Beginning of Period 0.00M 4,363.83M 20,547.85M 20,178.67M 18,003.23M 17,747.08M 11,768.58M 11,036.20M 10,371.73M 10,439.41M 8,917.73M 9,161.57M 7,907.21M 7,438.40M 7,236.77M 5,740.68M 4,937.37M 4,505.02M 4,052.29M 3,289.18M 2,542.40M 2,498.82M 1,780.70M 1,385.35M 1,009.77M 656.67M 481.82M 290.80M 205.69M 154.30M 141.93M
Cash at End of Period 252.44M 4,289.42M 19,928.01M 22,288.51M 20,703.03M 17,571.85M 17,020.99M 11,562.32M 10,918.08M 10,383.38M 10,310.39M 9,035.42M 9,135.25M 7,898.76M 7,437.19M 6,707.74M 5,172.52M 5,075.71M 4,664.00M 3,989.14M 2,876.74M 2,680.05M 1,974.03M 1,457.34M 1,116.94M 741.79M 550.91M 325.55M 290.14M 218.96M 175.25M
Operating Cash Flow 64.09M -36.64M 1,988.59M 3,247.70M 6,343.51M 3,653.20M 3,727.13M 2,106.63M -182.19M 1,323.55M 2,757.39M 3,114.78M 2,027.67M 1,637.65M 2,094.03M 1,145.75M 1,112.19M 1,672.94M 1,722.78M 1,094.74M 1,235.53M 674.18M 828.23M 582.73M 370.87M 144.39M 181.30M 89.88M 54.95M 43.45M 38.23M
Capital Expenditure -5.07M -32.96M -405.45M -406.61M -374.35M -344.73M -338.50M -303.57M -264.94M -272.28M -259.51M -258.95M -286.40M -237.57M -247.58M -203.34M -167.16M -151.28M -203.24M -152.53M -102.51M -86.78M -92.41M -67.44M -53.63M -32.25M -25.78M -18.29M -14.77M -9.30M -8.43M
Free Cash Flow 199.22M -90.09M 1,680.98M 2,798.34M 6,038.77M 3,342.78M 3,677.02M 1,582.54M -691.28M 1,072.36M 2,478.86M 2,647.03M 1,810.23M 1,199.54M 1,770.81M 867.94M 929.62M 1,450.35M 1,442.10M 958.16M 1,118.57M 556.83M 749.16M 504.11M 328.59M 114.13M 163.79M 70.44M 38.16M 33.17M 28.50M

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 251.79M 316.37M 4,202.93M 4,123.15M 4,072.30M 3,752.78M 2,486.93M 2,711.29M 2,287.30M 2,281.78M 1,977.56M 1,862.16M 1,741.67M 1,587.98M 1,649.02M 1,639.56M 1,439.64M 974.95M 712.21M 1,235.51M 989.59M 916.17M 703.19M 473.91M 370.42M 213.64M 183.29M 115.93M 95.38M 66.67M 61.28M
(-) Tax Adjustment 56.24M 76.93M 748.17M 741.71M 788.92M 673.53M 415.92M 480.91M 411.68M 425.16M 398.07M 376.23M 428.13M 405.08M 393.44M 350.21M 335.78M 186.49M 148.77M 328.18M 226.01M 240.45M 176.96M 128.36M 106.94M 61.23M 51.48M 35.16M 29.61M 22.10M 18.97M
(-) Change In Working Capital 28.14M -239.67M -1,340.63M -1,301.50M 865.47M -1,691.91M 634.45M -1,128.76M -3,038.31M -1,996.31M -487.77M 206.84M -3.12M -341.26M -152.67M -876.60M -422.19M -121.76M 87.23M -394.76M -73.85M -246.38M -145.42M 84.50M 18.88M -4.94M 4.01M -0.63M -2.68M -0.94M -1.54M
(-) Capital Expenditure 5.07M 32.96M 405.45M 406.61M 374.35M 344.73M 338.50M 303.57M 264.94M 272.28M 259.51M 258.95M 286.40M 237.57M 247.58M 203.34M 167.16M 151.28M 203.24M 152.53M 102.51M 86.78M 92.41M 67.44M 53.63M 32.25M 25.78M 18.29M 14.77M 9.30M 8.43M
Unlevered Free Cash Flow 162.35M 446.15M 4,389.94M 4,276.34M 2,043.56M 4,426.43M 1,098.06M 3,055.57M 4,648.99M 3,580.64M 1,807.75M 1,020.14M 1,030.27M 1,286.59M 1,160.66M 1,962.61M 1,358.90M 758.94M 272.98M 1,149.56M 734.92M 835.31M 579.24M 193.62M 190.97M 125.10M 102.03M 63.12M 53.68M 36.21M 35.41M
(-) Net Interest Income After Taxes 180.82M 433.20M 5,915.51M 5,041.36M 5,292.04M 4,575.77M 4,873.46M 4,538.14M 3,897.27M 3,582.86M 3,291.56M 3,136.08M 2,732.80M 2,516.10M 2,693.99M 2,677.46M 1,991.64M 1,937.84M 1,752.38M 1,365.60M 1,169.86M 910.93M 739.30M 513.03M 351.80M 237.64M 182.39M 126.47M 104.17M 67.78M 62.87M
Net Debt Issuance -242.41M -30.82M 1,907.54M 449.97M 1,917.21M 875.56M -444.88M 800.89M 1,513.87M 1,548.62M 966.43M 610.90M 1,208.06M 371.58M 63.95M 278.30M -4.20M -149.73M 450.92M 788.69M 304.76M 213.29M 343.29M 206.47M 70.54M 77.52M 9.19M 155.09M 69.17M 80.52M 40.76M
Levered Free Cash Flow -260.88M -17.88M 381.97M -315.04M -1,331.28M 726.22M -4,220.28M -681.68M 2,265.59M 1,546.41M -517.39M -1,505.03M -494.48M -857.93M -1,469.37M -436.55M -636.94M -1,328.62M -1,028.48M 572.65M -130.18M 137.67M 183.23M -112.94M -90.29M -35.01M -71.17M 91.74M 18.68M 48.94M 13.30M