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Definitive Analysis

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Page: Industry Financials

HCW.AX

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 34.37 18.50 20.66 20.75 27.04 28.06 29.85 26.34 27.00 27.69 23.12 26.01 24.89 26.96 20.39 18.84 18.30 16.07 19.78 27.20 21.60 22.28 19.96 13.56 13.05 9.13 11.43 19.41 25.52 24.14 21.28
Market Capitalization 5,567.84M 2,451.92M 2,413.95M 2,411.75M 3,094.42M 2,756.05M 2,750.98M 2,346.07M 2,439.88M 2,029.50M 1,642.12M 1,796.31M 1,521.40M 1,553.43M 1,370.07M 992.43M 1,088.93M 829.85M 841.54M 970.67M 933.52M 949.22M 760.56M 481.09M 388.57M 233.97M 284.64M 479.65M 582.94M 466.36M 370.52M
(-) Cash & Equivalents 204.59M 56.21M 81.22M 39.42M 49.65M 50.66M 27.92M 27.07M 31.50M 24.67M 10.56M 13.46M 14.33M 11.18M 17.46M 17.51M 27.64M 26.70M 18.44M 11.82M 11.55M 6.75M 30.84M 3.66M 6.15M 11.65M 7.05M 3.83M 20.38M 5.77M 3.20M
(+) Total Debt 2,707.50M 1,904.74M 2,006.69M 2,045.52M 1,728.98M 1,709.03M 1,369.56M 1,437.05M 1,422.39M 929.87M 924.34M 795.88M 866.32M 773.31M 714.17M 650.04M 590.96M 540.05M 445.25M 470.01M 590.01M 409.84M 317.43M 328.73M 279.11M 294.07M 379.34M 311.79M 195.63M 199.03M 195.89M
Enterprise Value 8,129,878,675.77 4,303,881,913.96 4,398,065,418.87 4,338,771,039.64 4,732,888,916.83 4,256,239,354.14 4,160,660,035.82 3,698,150,322.32 3,826,243,627.27 3,427,511,829.13 3,083,584,141.45 2,992,292,233.90 2,504,307,437.25 2,466,474,183.03 2,235,406,989.66 1,624,751,811.17 1,619,107,333.02 1,260,806,860.64 1,149,088,267.59 1,423,145,500.16 1,474,184,426.96 1,346,733,438.53 1,047,394,770.29 826,174,689.29 691,078,601.81 565,872,140.87 727,402,103.63 778,964,809.25 778,107,422.00 664,097,769.29 575,476,636.00

Industry Income Statement

Metric TTM 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Revenue 591.18M 476.91M 489.66M 388.68M 422.42M 390.31M 388.42M 384.74M 366.21M 337.57M 300.15M 228.69M 290.47M 246.96M 233.36M 148.20M 183.47M 152.68M 152.74M 137.87M 146.02M 122.64M 92.58M 103.16M 125.78M 113.23M 103.44M 79.21M 68.92M 57.36M 51.06M
Cost of Revenue 248.87M 147.53M 154.62M 117.80M 101.42M 140.91M 118.54M 117.48M 111.59M 101.43M 96.55M 93.24M 95.62M 84.01M 69.18M 23.89M 18.96M 15.99M 23.05M 0.32M 1.30M 0.00M 0.26M 0.20M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Gross Profit 342.32M 329.38M 335.03M 270.88M 320.99M 249.40M 269.88M 267.26M 254.62M 236.14M 203.60M 135.45M 194.85M 162.95M 164.18M 124.31M 164.51M 136.69M 129.69M 137.55M 144.72M 122.64M 92.32M 102.96M 125.78M 113.23M 103.44M 79.21M 68.92M 57.36M 51.06M
Gross Margin 57.9% 69.1% 68.4% 69.7% 76.0% 63.9% 69.5% 69.5% 69.5% 70.0% 67.8% 59.2% 67.1% 66.0% 70.4% 83.9% 89.7% 89.5% 84.9% 99.8% 99.1% 100.0% 99.7% 99.8% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
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 41.36M 33.05M 26.03M 24.54M 24.53M 23.05M 21.84M 26.13M 21.52M 19.06M 17.73M 14.78M 15.15M 13.82M 11.40M 6.88M 9.16M 8.54M 8.59M 8.12M 7.96M 7.08M 5.86M 5.33M 5.12M 4.89M 4.55M 3.96M 2.39M 1.99M 1.88M
Operating Expenses 41.36M 33.05M 26.03M 24.54M 24.53M 23.05M 21.84M 26.13M 21.52M 19.06M 17.73M 14.78M 15.15M 13.82M 11.40M 6.88M 9.16M 8.54M 8.59M 8.12M 7.96M 7.08M 5.86M 5.33M 5.12M 4.89M 4.55M 3.96M 2.39M 1.99M 1.88M
Operating Income 300.96M 296.33M 309.00M 246.34M 296.46M 226.35M 248.04M 241.13M 233.10M 217.09M 185.87M 120.67M 179.70M 149.12M 152.78M 117.44M 155.35M 128.15M 121.11M 129.43M 136.77M 115.56M 86.45M 97.63M 120.66M 108.33M 98.88M 75.25M 66.54M 55.38M 49.17M
Operating Margin 50.9% 62.1% 63.1% 63.4% 70.2% 58.0% 63.9% 62.7% 63.7% 64.3% 61.9% 52.8% 61.9% 60.4% 65.5% 79.2% 84.7% 83.9% 79.3% 93.9% 93.7% 94.2% 93.4% 94.6% 95.9% 95.7% 95.6% 95.0% 96.5% 96.5% 96.3%
Interest Income 0.92M 1.57M 1.50M 0.44M 0.36M 0.37M 0.67M 0.54M 1.00M 0.64M 0.35M 1.15M 0.82M 1.40M 2.03M 1.08M 0.46M 0.96M 0.47M 0.95M 1.53M 1.01M 1.02M 0.76M 0.68M 0.53M 0.32M 0.04M 0.00M 0.23M 0.17M
Interest Expense 80.63M 95.35M 83.11M 67.31M 60.87M 65.09M 71.41M 72.57M 59.67M 59.42M 55.72M 44.63M 49.15M 49.01M 45.48M 34.10M 31.07M 18.89M 20.47M 20.09M 10.45M 1.40M 11.31M 8.45M 1.45M 4.54M 0.32M 0.89M 0.21M 0.77M 0.61M
Net Interest Income -79.71M -93.78M -81.61M -66.87M -60.51M -64.72M -70.75M -72.03M -58.67M -58.77M -55.37M -43.49M -48.33M -47.61M -43.44M -33.03M -30.61M -17.93M -20.00M -19.14M -8.92M -0.39M -10.29M -7.69M -0.77M -4.01M 0.00M -0.85M -0.21M -0.54M -0.44M
Other Income / Expense -133.42M -157.14M -217.69M -120.79M -122.21M -83.61M -107.02M -26.54M -80.92M -80.39M -54.04M -10.81M -64.17M -47.94M -48.82M -53.03M -84.20M -79.17M -58.38M -76.64M -82.10M -79.76M -49.52M -64.75M -103.12M -85.12M -86.16M -58.19M -41.19M -39.56M -43.60M
Pre-Tax Income 87.84M 45.40M 9.70M 58.68M 113.75M 78.02M 70.27M 142.56M 93.51M 77.93M 76.46M 66.38M 67.19M 53.57M 60.52M 31.38M 40.54M 31.05M 42.73M 33.65M 45.75M 35.41M 26.64M 25.19M 16.77M 19.20M 12.72M 16.20M 25.14M 15.28M 5.14M
Pre-Tax Margin 14.9% 9.5% 2.0% 15.1% 26.9% 20.0% 18.1% 37.1% 25.5% 23.1% 25.5% 29.0% 23.1% 21.7% 25.9% 21.2% 22.1% 20.3% 28.0% 24.4% 31.3% 28.9% 28.8% 24.4% 13.3% 17.0% 12.3% 20.5% 36.5% 26.6% 10.1%
Income Tax Expense 4.06M 1.46M 1.16M 4.24M 3.33M 1.36M 2.44M 4.77M 7.02M 7.00M 3.04M 2.79M 1.94M -1.20M 2.33M 3.81M -1.11M -1.41M -3.76M 1.23M 30.11M 17.92M 13.29M 12.94M 10.63M 27.00M 25.47M 9.62M 10.89M 5.51M 9.15M
Tax Rate 4.6% 3.2% 12.0% 7.2% 2.9% 1.7% 3.5% 3.3% 7.5% 9.0% 4.0% 4.2% 2.9% 0.0% 3.9% 12.2% 0.0% 0.0% 0.0% 3.7% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Net Income 83.77M 43.94M 8.54M 54.44M 110.42M 76.66M 67.83M 137.79M 86.48M 70.92M 73.43M 63.59M 65.26M 54.77M 58.19M 27.56M 41.65M 32.46M 46.48M 32.42M 15.63M 17.49M 13.36M 12.25M 6.15M -7.80M -12.75M 6.58M 14.24M 9.77M -4.02M
Net Margin 14.2% 9.2% 1.7% 14.0% 26.1% 19.6% 17.5% 35.8% 23.6% 21.0% 24.5% 27.8% 22.5% 22.2% 24.9% 18.6% 22.7% 21.3% 30.4% 23.5% 10.7% 14.3% 14.4% 11.9% 4.9% -6.9% -12.3% 8.3% 20.7% 17.0% -7.9%
EBIT 300.96M 296.33M 309.00M 246.34M 296.46M 226.35M 248.04M 241.13M 233.10M 217.09M 185.87M 120.67M 179.70M 149.12M 152.78M 117.44M 155.35M 128.15M 121.11M 129.43M 136.77M 115.56M 86.45M 97.63M 120.66M 108.33M 98.88M 75.25M 66.54M 55.38M 49.17M
Depreciation & Amortization 168.87M 107.06M 109.62M 114.09M 115.78M 110.36M 121.10M 140.20M 126.41M 113.52M 75.92M 56.06M 65.71M 60.83M 56.44M 42.51M 36.83M 33.84M 30.69M 31.45M 38.08M 29.56M 21.98M 22.64M 19.45M 19.24M 21.02M 13.34M 6.45M 7.40M 7.83M
EBITDA 469.84M 403.38M 418.62M 360.43M 412.24M 336.71M 369.14M 381.33M 359.51M 330.60M 261.79M 176.73M 245.41M 209.96M 209.22M 159.94M 192.18M 162.00M 151.80M 160.87M 174.85M 145.12M 108.43M 120.27M 140.11M 127.57M 119.90M 88.59M 72.99M 62.77M 57.00M
EBITDA Margin 79.5% 84.6% 85.5% 92.7% 97.6% 86.3% 95.0% 99.1% 98.2% 97.9% 87.2% 77.3% 84.5% 85.0% 89.7% 107.9% 104.7% 106.1% 99.4% 116.7% 119.7% 118.3% 117.1% 116.6% 111.4% 112.7% 115.9% 111.8% 105.9% 109.4% 111.6%
NOPAT 287.04M 286.79M 271.99M 228.56M 287.79M 222.40M 239.41M 233.06M 215.59M 197.57M 178.49M 115.59M 174.52M 149.12M 146.90M 103.17M 155.35M 128.15M 121.11M 124.68M 88.90M 75.12M 56.20M 63.46M 78.43M 70.42M 64.28M 48.91M 43.25M 35.99M 31.96M
NOPAT Margin 48.6% 60.1% 55.5% 58.8% 68.1% 57.0% 61.6% 60.6% 58.9% 58.5% 59.5% 50.5% 60.1% 60.4% 63.0% 69.6% 84.7% 83.9% 79.3% 90.4% 60.9% 61.2% 60.7% 61.5% 62.4% 62.2% 62.1% 61.8% 62.8% 62.7% 62.6%
Owner's Earnings 252.65M 151.00M 118.16M 168.52M 226.20M 187.02M 188.93M 277.99M 212.89M 184.44M 149.35M 119.64M 130.97M 115.60M 114.62M 70.07M 78.48M 66.31M 77.17M 63.86M 53.71M 47.04M 35.33M 34.89M 25.59M 11.44M 8.27M 19.92M 20.70M 17.16M 3.81M
Owner's Earnings Margin 42.7% 31.7% 24.1% 43.4% 53.5% 47.9% 48.6% 72.3% 58.1% 54.6% 49.8% 52.3% 45.1% 46.8% 49.1% 47.3% 42.8% 43.4% 50.5% 46.3% 36.8% 38.4% 38.2% 33.8% 20.3% 10.1% 8.0% 25.1% 30.0% 29.9% 7.5%
EPS 0.31 0.14 0.03 0.19 0.46 0.34 0.31 0.64 0.42 0.40 0.42 0.40 0.39 0.37 0.41 0.28 0.40 0.33 0.53 0.53 0.25 0.31 0.27 0.24 0.14 -0.19 -0.35 0.19 0.43 0.32 -0.28
EPS (Diluted) 0.31 0.14 0.03 0.19 0.46 0.34 0.31 0.64 0.42 0.40 0.42 0.40 0.39 0.37 0.41 0.28 0.40 0.33 0.53 0.53 0.25 0.31 0.27 0.24 0.14 -0.19 -0.35 0.19 0.43 0.32 -0.28
Shares (Diluted) 269.21M 307.05M 293.29M 280.61M 241.98M 225.22M 217.22M 216.38M 204.65M 175.48M 176.62M 158.39M 167.86M 149.37M 143.53M 99.78M 105.27M 98.25M 87.95M 60.67M 63.21M 55.75M 49.11M 50.56M 43.66M 40.43M 36.74M 35.30M 33.06M 30.43M 14.52M

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 111.60M 56.21M 81.22M 39.42M 49.65M 54.06M 35.47M 27.07M 31.50M 24.67M 10.56M 13.46M 14.33M 11.18M 17.46M 17.51M 27.64M 26.70M 18.44M 11.82M 11.55M 6.75M 30.84M 3.66M 6.15M 11.65M 7.05M 3.83M 20.38M 5.77M 3.20M
Short-Term Investments 0.00M 0.00M 0.73M 0.03M 0.10M 1.11M 0.00M 0.00M 1.06M 0.00M 0.00M 0.00M 0.00M 0.00M 0.67M 4.46M 1.52M 5.70M 5.60M 2.56M 1.66M 8.14M 10.72M 9.25M 66.02M 9.32M 13.25M 3.32M 1.55M 0.00M 10.19M
Cash & Short-Term Investments 111.60M 56.21M 81.95M 39.45M 49.75M 55.17M 35.47M 27.08M 32.56M 24.67M 10.56M 13.46M 14.33M 11.18M 18.12M 21.97M 29.16M 32.40M 24.04M 14.37M 13.21M 14.89M 41.56M 12.91M 72.17M 20.97M 20.30M 7.15M 21.93M 5.77M 13.39M
Net Receivables 167.99M 120.10M 93.44M 104.14M 129.20M 56.38M 51.34M 52.11M 75.38M 61.66M 85.09M 71.79M 60.46M 23.31M 77.78M 8.10M 10.26M 10.54M 10.97M 31.49M 19.30M 12.02M 43.10M 58.06M 63.01M 71.34M 66.58M 8.85M 3.05M 121.93M 4.49M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.01M -0.29M -4.65M -3.03M 0.00M 0.00M 0.21M 0.00M 0.00M 0.03M 0.90M 0.23M 0.00M 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 38.58M 35.20M 27.37M 29.00M 28.46M 29.99M 28.84M 7.59M 23.99M 34.97M 15.49M 12.93M 12.20M 11.99M 14.09M 7.82M 13.16M 10.82M 1.43M 0.12M 0.04M 0.00M 0.00M -1.47M -20.99M -20.18M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 318.17M 211.52M 202.77M 172.59M 207.41M 141.54M 115.66M 86.49M 127.29M 118.26M 111.15M 98.18M 87.19M 46.49M 110.00M 37.92M 53.48M 54.00M 36.43M 45.98M 32.55M 26.90M 84.66M 69.50M 114.20M 72.13M 86.88M 16.00M 24.98M 127.69M 17.88M
Property, Plant & Equipment 57.18M 102.73M 298.99M 96.80M 225.48M 638.64M 357.47M 1,172.75M 1,143.91M 914.63M 873.93M 787.23M 707.96M 532.29M 990.58M 994.38M 1,099.98M 951.35M 730.85M 847.57M 1,056.70M 759.30M 607.56M 636.19M 494.71M 570.46M 653.04M 590.61M 411.15M 321.17M 270.24M
Goodwill 2.04M 6.94M 16.72M 16.92M 7.99M 8.02M 1.73M 1.78M 1.78M 1.78M 7.75M 0.52M 1.02M 0.80M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 43.11M 19.21M 11.45M 11.30M 18.34M 16.16M 12.15M 14.50M 44.76M 11.99M 10.57M 7.76M 25.65M 10.19M 8.33M 0.46M 6.94M 17.86M 0.81M 0.12M 0.05M 0.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 145.40M 138.39M 97.70M 104.60M 108.79M 112.23M 30.34M 35.73M 45.40M 35.85M 16.99M 15.22M 30.04M 14.59M 16.89M 8.35M 7.73M 6.79M 10.25M 15.19M 9.19M 14.14M 15.56M 17.13M 24.34M 20.27M 23.28M 18.99M 25.56M 13.81M 0.10M
Tax Assets 0.00M 0.00M 0.00M 1.15M 2.04M 2.41M 0.29M 758.10M 583.30M 719.94M -92.98M 0.00M -0.06M -5.19M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.80M 0.19M 0.00M 0.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 3,895.10M 3,035.15M 2,648.92M 2,918.38M 2,371.78M 1,470.51M 2,068.64M -86.64M -62.59M 375.83M 1,028.02M 770.29M 790.49M 795.29M 103.23M 73.26M 106.80M 112.92M -290.88M -675.24M -727.00M -641.25M -542.23M -613.74M -478.94M -526.75M -554.39M -584.11M -267.00M -209.75M -188.49M
Other Assets 0.00M 0.00M 4.25M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 7.82M 350.56M 609.05M 304.87M 174.59M 299.26M 235.85M 224.04M 272.77M 268.31M 212.07M 150.29M 231.85M
Total Non-Current Assets 4,142.83M 3,302.41M 3,078.03M 3,149.14M 2,734.43M 2,247.98M 2,470.62M 1,896.21M 1,756.56M 2,060.01M 1,844.27M 1,581.02M 1,555.10M 1,347.97M 1,119.03M 1,076.45M 1,221.45M 1,088.92M 458.86M 538.20M 948.80M 437.28M 255.48M 338.95M 275.95M 288.01M 394.71M 293.81M 381.78M 275.52M 313.70M
Total Assets 4,461.00M 3,513.93M 3,280.80M 3,321.73M 2,941.84M 2,389.51M 2,586.29M 1,982.71M 1,883.85M 2,178.28M 1,955.43M 1,679.20M 1,642.30M 1,394.45M 1,229.03M 1,114.37M 1,274.92M 1,142.91M 495.29M 584.18M 981.34M 464.18M 340.14M 408.45M 390.15M 360.14M 481.60M 309.80M 406.76M 403.21M 331.57M
Accounts Payable 29.49M 43.50M 24.91M 28.39M 20.00M 18.49M 16.27M 16.80M 13.86M 10.87M 10.11M 10.58M 7.24M 3.43M 4.24M 3.29M 1.94M 2.45M 3.67M 7.27M 7.54M 6.21M 4.03M 1.30M 0.50M 0.94M 0.46M 0.33M 0.15M 0.34M 0.00M
Short-Term Debt 100.79M 123.88M 129.98M 196.69M 149.26M 75.93M 110.30M 101.37M 42.92M 47.43M 58.28M 29.36M 56.24M 45.14M 80.93M 0.00M 0.00M 6.12M 1.80M 0.00M 11.12M 13.07M 0.00M 24.89M 0.32M 36.02M 76.36M 65.74M 20.75M 16.64M 26.67M
Tax Payables 0.00M 0.38M 0.81M 1.78M 1.28M 0.11M 0.03M 0.36M 0.38M 0.21M 0.00M 0.00M 0.25M 0.00M 0.00M 0.00M 0.01M 0.01M 0.02M 0.07M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 1.01M 0.89M 1.25M 3.70M 3.32M 3.01M 2.59M 1.69M 1.64M 1.13M 0.31M 0.26M -2.97M 0.00M 0.00M 0.00M 0.00M 0.02M 0.03M 0.04M 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 14.15M 13.85M 14.16M 8.56M 11.47M 14.42M 14.32M 1.28M 19.05M 5.02M 9.37M 2.45M 2.71M 8.77M 6.63M 10.02M 7.27M 6.32M 2.57M -12.23M -24.14M -13.63M -12.83M -41.41M -15.22M -45.08M -80.95M -69.72M -17.84M -4.74M -26.57M
Total Current Liabilities 145.44M 182.50M 171.11M 239.12M 185.33M 111.96M 143.51M 121.51M 77.86M 64.67M 78.08M 42.65M 63.47M 57.34M 91.81M 13.31M 9.22M 14.93M 8.09M -4.84M -5.48M 5.65M -8.80M -15.21M -14.40M -8.12M -4.12M -3.65M 3.06M 12.24M 0.10M
Long-Term Debt 2,150.85M 1,733.17M 1,817.25M 1,842.93M 1,613.91M 1,546.34M 1,437.15M 1,528.17M 1,579.14M 1,369.16M 1,309.12M 714.82M 799.08M 847.42M 726.73M 583.63M 504.45M 465.17M 440.95M 446.19M 584.20M 402.55M 302.46M 282.26M 250.63M 257.48M 324.64M 260.30M 168.21M 184.71M 163.28M
Capital Lease Obligations 6.06M 27.30M 28.81M 26.81M 36.13M 34.16M 51.82M 3.81M 3.95M 2.12M 5.35M 0.00M 4.15M 4.44M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 8.60M 5.51M 9.80M 7.95M 7.79M 10.28M 31.99M 30.11M 1.52M 8.21M 0.00M 1.47M 1.18M 1.14M 0.80M 2.94M 4.35M 3.14M 1.54M 0.66M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 50.43M 38.27M 55.71M 39.67M 36.45M 43.00M 26.66M 24.91M 3.39M 6.75M 17.39M 15.78M 21.27M -8.78M 14.76M 2.74M 7.37M 9.22M -1.31M -227.49M -357.46M -327.75M -246.64M -268.34M -240.13M -249.52M -272.52M -227.74M -70.47M -84.09M -98.29M
Total Non-Current Liabilities 2,207.34M 1,807.34M 1,907.28M 1,919.21M 1,694.44M 1,631.29M 1,525.92M 1,588.88M 1,616.60M 1,379.55M 1,340.06M 730.59M 825.97M 844.27M 742.64M 587.17M 514.76M 478.74M 442.78M 220.24M 227.41M 74.80M 55.82M 13.93M 10.50M 7.96M 52.12M 32.56M 97.74M 100.62M 64.98M
Total Liabilities 2,352.78M 1,989.85M 2,078.40M 2,158.33M 1,879.77M 1,743.26M 1,669.43M 1,710.39M 1,694.45M 1,444.22M 1,418.14M 773.25M 889.44M 901.61M 834.45M 600.48M 523.98M 493.66M 450.87M 215.40M 221.93M 80.45M 47.02M -1.29M -3.90M -0.16M 47.99M 28.90M 100.80M 112.85M 65.08M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 17.86M 18.39M 0.06M 0.02M 11.30M 9.31M 0.00M 0.00M 0.00M 25.97M 25.97M 30.28M 35.78M 23.72M 37.51M 26.02M 30.41M 35.41M 35.41M 29.21M 21.15M 5.95M 0.00M 0.00M
Common Stock 31.95M 254.32M 228.31M 205.62M 168.17M 160.06M 198.40M 143.81M 125.96M 121.89M 124.14M 102.96M 107.16M 74.82M 48.27M 48.33M 39.29M 33.55M 31.31M 17.47M 16.49M 14.62M 13.80M 13.01M 10.86M 9.96M 6.30M 6.27M 7.12M 7.03M 4.03M
Retained Earnings -557.65M -386.30M -236.33M -394.04M -410.04M -414.29M -447.66M -373.51M -351.83M -289.32M -282.16M -266.63M -250.16M -230.73M -164.62M -155.08M -143.19M -78.98M -69.45M -81.01M -100.71M -72.52M -62.85M -68.94M -38.27M 26.17M -12.92M 48.97M 33.29M 18.52M 36.83M
Accumulated OCI -2.05M -45.81M -4.61M -2.74M -27.08M -42.27M -9.92M 31.90M 70.80M 65.03M 3.43M -12.86M -6.92M -0.69M -3.29M -2.69M -0.07M -1.24M 1.38M 0.54M 1.83M -1.41M -0.71M -8.12M -0.98M -3.19M -4.53M 0.02M 0.00M 0.00M 0.00M
Minority Interest 26.70M 23.24M 27.42M 164.50M 156.08M 160.15M 164.31M 299.89M 268.99M 238.12M 15.20M 0.89M 2.33M 0.76M 0.03M 0.88M 1.47M 2.28M 2.24M 0.11M 0.06M 0.05M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.03M 0.00M 0.00M
Total Shareholders’ Equity -527.75M -177.78M -12.63M -191.17M -268.96M -296.49M -259.19M -179.94M -136.67M -102.34M -154.58M -165.24M -140.61M -156.61M -119.64M -109.44M -78.00M -20.70M -6.48M -27.21M -58.67M -21.80M -23.74M -33.64M 7.02M 68.36M 18.08M 76.42M 46.36M 25.55M 40.86M
Total Equity -501.05M -154.54M 14.79M -26.67M -112.88M -136.35M -94.88M 119.95M 132.32M 135.78M -139.38M -164.35M -138.28M -155.85M -119.61M -108.57M -76.53M -18.41M -4.24M -27.10M -58.61M -21.75M -23.74M -33.64M 7.02M 68.36M 18.08M 76.42M 46.39M 25.55M 40.86M
Total Liabilities & Equity 1,851.73M 1,835.31M 2,093.18M 2,131.66M 1,766.89M 1,606.91M 1,574.55M 1,830.34M 1,826.77M 1,580.00M 1,278.76M 608.90M 751.16M 745.76M 714.84M 491.91M 447.45M 475.25M 446.63M 188.30M 163.32M 58.70M 23.27M -34.93M 3.12M 68.20M 66.07M 105.33M 147.20M 138.41M 105.93M
Tangible Assets 4,415.85M 3,487.78M 3,252.63M 3,293.52M 2,915.51M 2,365.33M 2,572.41M 1,966.42M 1,837.30M 2,164.51M 1,937.11M 1,670.92M 1,615.63M 1,383.47M 1,220.70M 1,113.91M 1,267.99M 1,125.06M 494.48M 584.06M 981.29M 464.15M 340.14M 408.45M 390.15M 360.14M 481.60M 309.80M 406.76M 403.21M 331.57M
Tangible Equity -546.20M -180.69M -13.38M -54.88M -139.21M -160.53M -108.76M 103.67M 85.78M 122.01M -157.69M -172.63M -164.95M -166.83M -127.94M -109.03M -83.47M -36.27M -5.05M -27.22M -58.66M -21.79M -23.74M -33.64M 7.02M 68.36M 18.08M 76.42M 46.39M 25.55M 40.86M
Tangible Book Value -546,202,602.18 -180,688,803.53 -13,381,338.49 -54,879,885.18 -139,207,346.75 -160,528,250.09 -108,758,454.47 103,668,223.17 85,776,070.11 122,014,102.98 -157,693,202.65 -172,633,007.07 -164,948,882.72 -166,832,891.61 -127,936,516.25 -109,032,863.78 -83,466,823.99 -36,268,113.76 -5,053,632.96 -27,221,639.70 -58,658,666.41 -21,788,105.58 -23,740,089.53 -33,643,191.91 7,018,336.74 68,358,614.89 18,075,805.57 76,424,496.14 46,392,647.29 25,551,984.82 40,855,916.83
Total Investments 145.40M 138.39M 98.43M 104.62M 108.89M 113.34M 30.34M 43.38M 45.40M 35.85M 16.99M 15.22M 34.56M 14.59M 17.61M 19.98M 8.00M 7.62M 25.18M 19.17M 15.18M 21.72M 20.63M 25.82M 50.00M 20.87M 24.27M 25.29M 26.93M 13.81M 0.28M
Net Debt 2,140.04M 1,800.83M 1,866.01M 2,000.20M 1,713.53M 1,568.20M 1,511.98M 1,602.47M 1,590.55M 1,391.92M 1,356.84M 730.72M 841.00M 881.39M 790.20M 566.11M 476.81M 444.59M 424.32M 434.38M 583.77M 408.87M 271.62M 303.50M 244.80M 281.84M 393.95M 322.21M 168.58M 195.58M 186.74M

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 94.51M -72.22M -57.84M -86.21M -9.60M 98.50M -64.71M -98.60M 13.73M -96.62M -74.67M -16.59M -15.80M -50.74M -55.25M -11.56M 68.03M 30.46M 8.24M 13.30M 25.54M 13.08M 33.06M 15.70M 32.94M 39.67M 59.60M 15.19M 141.12M 146.34M 49.75M
Total Capital 4,844.29M 3,914.27M 3,894.27M 3,875.95M 3,575.51M 3,377.24M 3,483.59M 3,054.31M 3,008.84M 1,904.10M 1,702.51M 1,504.21M 1,557.31M 1,367.42M 1,414.47M 1,342.22M 1,377.15M 1,237.48M 1,022.00M 931.05M 1,097.11M 862.92M 713.63M 744.52M 638.74M 618.04M 732.11M 686.22M 543.34M 482.16M 474.34M
Capital Employed 4,831.02M 3,865.91M 3,735.24M 3,743.85M 3,375.73M 3,289.82M 3,365.41M 2,898.92M 2,887.81M 1,764.73M 1,591.33M 1,484.93M 1,521.58M 1,309.85M 1,281.30M 1,274.53M 1,335.38M 1,151.87M 947.95M 971.93M 1,156.27M 863.38M 735.12M 762.11M 701.79M 659.24M 796.51M 741.48M 546.72M 473.81M 477.44M
Invested Capital 4,732.69M 3,858.06M 3,813.04M 3,836.53M 3,525.86M 3,323.18M 3,448.11M 3,027.23M 2,977.33M 1,879.43M 1,691.95M 1,490.75M 1,542.98M 1,356.23M 1,397.01M 1,324.71M 1,349.51M 1,210.78M 1,003.56M 919.24M 1,085.56M 856.17M 682.79M 740.86M 632.59M 606.39M 725.05M 682.39M 522.96M 476.39M 471.14M

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 168.88M 106.42M 109.21M 109.87M 109.23M 109.19M 108.35M 109.33M 98.89M 89.59M 75.80M 56.11M 63.44M 60.77M 56.43M 37.25M 36.72M 34.57M 31.27M 31.57M 38.39M 29.62M 21.48M 22.61M 19.41M 19.21M 21.02M 13.36M 9.69M 7.40M 7.83M
Deferred Income Tax 0.07M 0.00M 0.00M 0.00M 0.69M -3.07M -3.64M -10.68M -6.81M -4.37M -5.57M 0.00M 0.00M -2.12M -3.16M 0.00M -1.02M 0.03M -1.63M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 7.38M 8.52M 5.51M 6.45M 5.24M 3.96M 4.97M 4.39M 4.29M 3.05M 3.09M 3.13M 2.88M 4.96M 2.25M 0.74M 0.99M 0.67M 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
Change in Working Capital 3.31M -0.13M -6.71M -4.51M -1.70M 0.15M -5.36M -1.18M -3.33M -0.36M -0.68M -1.09M 1.20M 0.37M 0.38M -0.17M 0.81M 1.36M 2.28M -0.44M 1.76M -0.38M -0.85M 3.87M -4.58M -1.28M -1.85M 1.27M -1.49M 1.20M -0.63M
Accounts Receivable -0.82M -1.30M -1.71M -1.74M -0.39M -2.02M -2.55M -0.74M -3.80M -1.08M -0.56M -0.28M -0.13M -1.50M 0.05M -0.01M -0.11M 0.00M -1.16M -2.29M 0.83M -1.43M 1.66M 1.37M -0.11M -1.01M -3.48M -0.26M -0.50M -0.06M -0.10M
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 -0.15M 0.00M 0.88M 0.15M -0.18M 3.94M 9.70M 2.97M 8.16M 12.77M 3.36M 1.87M 0.00M
Accounts Payable 2.98M 2.57M 2.19M 1.41M 4.76M 2.15M 1.37M 1.46M 1.56M 1.00M 0.12M 0.34M 0.90M 0.22M 0.00M 0.00M 0.00M -0.04M -0.63M 0.31M 0.82M 0.89M 0.04M 2.32M -0.91M 0.77M 2.23M 1.13M 0.63M 0.13M -0.13M
Other Working Capital 0.97M -1.78M -7.78M -0.50M -0.77M -2.68M -2.44M -2.33M -0.21M 0.04M 0.44M -1.18M 0.18M 0.34M -0.53M -0.67M 3.01M 0.55M 3.94M 0.76M 1.09M 0.80M -1.48M -6.39M -8.26M -4.47M -5.76M -11.73M -12.89M -3.73M -2.45M
Other Non-Cash Items 4.07M 18.59M 26.19M -30.51M -73.44M 12.29M 3.28M -13.98M -16.62M -5.95M -7.53M -10.66M -15.20M -9.76M -13.67M -1.54M 3.24M 3.01M -12.33M -6.93M -2.49M -3.54M -0.32M 0.69M 1.17M 9.97M 9.80M -0.90M 1.78M 1.63M 4.81M
Net Cash from Operating Activities 261.07M 198.77M 186.88M 146.30M 171.27M 195.19M 169.93M 182.18M 168.29M 160.34M 154.12M 127.90M 124.96M 110.84M 107.08M 70.29M 82.64M 73.53M 62.07M 59.73M 80.29M 71.21M 59.74M 62.94M 42.54M 43.18M 66.88M 54.55M 53.16M 44.31M 39.29M
Capital Expenditures (PPE) -24.58M -10.52M -6.74M -25.34M -29.07M -33.90M -36.08M -39.52M -84.75M -53.41M -52.83M -24.28M -48.05M -14.45M -94.14M -146.57M -66.48M -109.41M -45.65M -80.54M -101.23M -57.94M -4.64M -95.03M -3.81M -7.72M -26.40M -47.68M -78.59M -33.30M -11.81M
Acquisitions (Net) -2.03M -1.44M -3.88M 4.32M -23.66M -10.46M -2.79M -0.70M -18.58M -15.40M -16.25M -4.45M -4.00M -2.34M 0.00M 0.00M -2.06M -5.21M -10.57M -1.45M 4.41M -48.30M 0.00M -3.14M 1.08M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -6.17M -10.96M -11.00M -96.09M -72.83M -55.02M -103.36M -94.23M -88.94M -165.82M -21.46M -2.67M -8.75M -15.15M -30.48M -8.18M -8.06M -19.37M -100.25M -12.19M -8.28M -0.31M -0.03M -16.62M -6.14M -12.96M -14.95M -31.71M -33.75M -43.83M -4.26M
Sales / Maturities of Investments 12.34M 5.32M 7.55M 13.89M 17.88M 6.85M 29.83M 79.77M 27.83M 30.11M 14.82M 0.06M 2.26M 1.77M 7.55M 0.00M 7.84M 1.76M 15.56M 11.12M 17.03M 3.73M 4.40M 3.13M 4.94M 4.80M 0.10M 9.48M 2.48M 17.33M 1.57M
Other Investing Activities -93.60M -76.43M -40.46M 31.35M -33.33M -30.18M -17.26M -36.66M -60.79M -50.79M -114.06M -145.60M -82.18M -77.18M -7.33M -11.92M -1.68M 6.07M 15.20M 2.74M 5.20M 38.68M 18.41M 29.64M 12.83M 28.20M 4.47M -21.54M -16.77M -22.16M -23.85M
Net Cash from Investing Activities -219.17M -163.67M -79.67M -247.32M -215.98M -123.58M -294.13M -119.69M -197.10M -229.14M -203.27M -285.48M -219.46M -176.10M -284.01M -184.67M -94.69M -196.14M -175.29M -147.90M -108.41M -129.33M -38.76M -74.94M 0.34M 23.71M -24.97M -85.80M -98.04M -72.87M -41.98M
Net Debt Issuance 7.66M -1.88M -3.71M 102.90M 22.66M 25.74M 84.43M 42.62M 43.56M 52.12M 125.38M 122.25M 61.57M 79.90M 126.04M 36.62M 4.62M 54.98M -5.75M 97.53M 117.01M 53.18M 32.25M 52.98M -19.24M -49.31M 35.42M 70.37M 42.67M 34.58M 29.65M
Long-Term Debt Issuance -29.99M -1.88M 73.71M 103.01M 14.81M 54.77M 60.14M 35.78M 43.35M 49.75M 120.48M 132.46M 37.81M 80.40M 145.22M 42.69M 8.76M 54.98M -8.77M 112.11M 107.84M 51.45M 58.88M 28.64M 6.04M -42.91M 28.04M 40.14M 44.63M 36.66M 29.65M
Short-Term Debt Issuance 0.00M 0.00M -11.12M 9.39M 7.44M 4.84M 2.34M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 13.29M 9.77M 0.22M 0.00M 0.00M 0.00M 13.10M 7.80M -17.97M 0.00M 0.00M 0.00M 1.50M 14.63M 0.00M 0.00M 0.00M
Net Stock Issuance 105.15M 70.23M 8.89M 36.03M 128.67M 50.26M 188.50M 27.27M 77.93M 73.75M 59.98M 40.78M 88.59M 76.22M 103.45M 59.64M 66.38M 115.15M 149.38M 33.10M 51.35M 67.64M 35.35M 48.09M 27.18M 1.91M 1.27M 28.86M 54.57M 12.21M 1.07M
Common Stock Issuance 94.48M 70.55M 24.46M 64.29M 139.96M 62.26M 202.79M 39.61M 110.14M 117.55M 80.97M 80.04M 104.29M 86.87M 123.62M 79.68M 98.52M 169.40M 147.19M 33.88M 56.28M 46.20M 33.88M 48.09M 24.63M 1.26M 0.14M 12.77M 18.40M 23.35M 22.42M
Common Stock Repurchased -0.30M -0.67M -0.57M -4.19M -0.30M -1.46M -0.57M -0.94M -0.44M -0.22M -0.05M 0.00M 0.00M 0.00M -0.02M 0.00M -0.04M -0.06M -0.05M -0.05M 0.00M 0.00M 0.00M 0.00M 0.00M -0.71M 0.00M -0.88M 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 0.67M 0.00M 12.50M 0.00M 0.00M 0.00M
Net Dividends Paid -190.25M -164.24M -161.75M -191.48M -169.50M -131.56M -142.14M -153.25M -138.95M -128.51M -125.48M -99.10M -106.86M -94.68M -85.24M -54.84M -66.82M -60.86M -53.24M -62.64M -64.54M -54.11M -45.24M -42.54M -33.24M -38.48M -49.98M -37.76M -28.53M -21.92M -25.60M
Common Dividends Paid -169.04M -164.00M -159.09M -191.30M -169.76M -126.49M -136.99M -152.78M -138.95M -128.51M -125.48M -97.96M -106.86M -94.68M -86.52M -54.84M -66.82M -60.86M -55.11M -62.64M -64.54M -54.11M -45.24M -42.13M -33.24M -38.48M -49.99M -37.76M -28.52M -21.92M -25.60M
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 -9.87M -21.03M -11.55M -10.05M -23.51M -8.92M -10.41M -20.21M 26.92M 13.16M 10.05M 7.74M 4.72M -0.71M -3.52M 4.15M 0.91M 1.84M -4.57M -3.47M -1.32M -1.02M 0.58M -9.48M -2.45M 1.04M -0.15M -14.40M -0.49M -12.98M 1.01M
Net Cash from Financing Activities 38.59M -11.00M -113.72M -13.99M 6.45M -8.76M 124.68M -85.48M 44.03M 82.05M 93.67M 124.73M 73.83M 75.28M 90.67M 99.79M 1.54M 169.87M 126.83M 73.14M 81.55M 64.10M 18.19M 4.17M -46.08M -72.94M -8.10M 33.01M 62.27M 24.08M 11.62M
Effect of FX on Cash -0.03M -0.20M 0.28M -0.81M 0.00M 0.09M 0.07M 0.02M 0.16M 0.00M 0.01M 0.01M 0.05M 0.00M 0.00M 0.00M 0.00M 0.33M 0.00M 0.00M 0.00M 0.00M 0.00M -2.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 6.40M
Net Change in Cash 32.31M 9.00M 27.66M -4.08M -12.19M 12.58M 3.57M 1.72M -12.14M 16.27M -0.88M 2.15M 0.76M 3.26M -3.28M 9.78M 2.33M 2.95M 3.78M 0.72M 3.07M -9.77M 34.81M -4.62M -5.24M -4.53M 3.67M -10.83M 7.08M 8.10M 7.25M
Cash at Beginning of Period 83.67M 84.97M 51.57M 49.87M 64.43M 52.45M 35.97M 40.06M 36.70M 16.05M 21.45M 9.85M 15.96M 17.22M 27.52M 16.59M 26.70M 17.51M 10.05M 6.68M 6.75M 31.21M 5.16M 8.52M 11.99M 8.32M 3.82M 17.41M 3.15M 3.98M 4.57M
Cash at End of Period 111.53M 70.15M 85.06M 51.57M 52.00M 64.43M 50.95M 33.17M 35.54M 36.07M 15.33M 20.31M 14.29M 16.27M 19.20M 16.98M 25.79M 26.70M 18.44M 11.82M 11.55M 6.53M 31.11M 5.88M 8.52M 11.99M 7.78M 5.75M 23.72M 12.11M 16.59M
Operating Cash Flow 261.07M 198.77M 186.88M 146.30M 171.27M 195.19M 169.93M 182.18M 168.29M 160.34M 154.12M 127.90M 124.96M 110.84M 107.08M 70.29M 82.64M 73.53M 62.07M 59.73M 80.29M 71.21M 59.74M 62.94M 42.54M 43.18M 66.88M 54.55M 53.16M 44.31M 39.29M
Capital Expenditure -21.10M -17.51M -8.11M -25.34M -29.07M -33.90M -36.08M -41.61M -95.79M -80.82M -52.83M -24.28M -48.05M -14.45M -85.59M -146.57M -66.48M -109.41M -45.65M -80.54M -101.23M -57.94M -4.64M -95.03M -3.81M -7.72M -26.40M -47.68M -78.59M -33.30M -11.81M
Free Cash Flow 225.91M 145.31M 208.30M 126.69M 150.84M 154.39M 147.11M 186.59M 64.54M 64.75M 53.11M 33.27M 86.67M 74.64M -6.98M -68.76M -3.64M -49.10M 6.06M -33.56M -47.06M -11.65M 30.42M -31.82M 27.50M 33.86M 33.36M 2.53M -12.45M 16.60M 19.66M

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 341.38M 193.23M 235.70M 257.19M 280.39M 217.12M 236.08M 260.22M 228.68M 218.42M 201.58M 180.04M 170.78M 154.47M 125.01M 91.51M 92.89M 79.64M 66.70M 67.34M 87.42M 80.34M 69.00M 106.73M 94.11M 77.41M 86.34M 70.85M 50.26M 37.47M 50.43M
(-) Tax Adjustment 15.79M 6.22M 28.23M 18.57M 8.20M 3.79M 8.21M 8.71M 17.18M 19.63M 8.01M 7.57M 4.92M -3.47M 4.81M 11.12M -2.54M -3.61M -5.86M 2.47M 57.54M 40.66M 34.41M 54.84M 59.62M 108.85M 172.68M 42.07M 21.78M 13.51M 89.88M
(-) Change In Working Capital 3.31M -0.13M -6.71M -4.51M -1.70M 0.15M -5.36M -1.18M -3.33M -0.36M -0.68M -1.09M 1.20M 0.37M 0.38M -0.17M 0.81M 1.36M 2.28M -0.44M 1.76M -0.38M -0.85M 3.87M -4.58M -1.28M -1.85M 1.27M -1.49M 1.20M -0.63M
(-) Capital Expenditure 21.10M 17.51M 8.11M 25.34M 29.07M 33.90M 36.08M 41.61M 95.79M 80.82M 52.83M 24.28M 48.05M 14.45M 85.59M 146.57M 66.48M 109.41M 45.65M 80.54M 101.23M 57.94M 4.64M 95.03M 3.81M 7.72M 26.40M 47.68M 78.59M 33.30M 11.81M
Unlevered Free Cash Flow 301.18M 169.63M 206.08M 217.79M 244.82M 179.29M 197.15M 211.08M 119.04M 118.32M 141.43M 149.28M 116.61M 143.12M 34.22M -66.01M 28.15M -27.51M 24.63M -15.24M -73.11M -17.89M 30.80M -47.01M 35.26M -37.88M -110.89M -20.17M -48.62M -10.55M -50.63M
(-) Net Interest Income After Taxes -76.02M -90.77M -71.84M -62.05M -58.74M -63.59M -68.29M -69.62M -54.26M -53.49M -53.17M -41.66M -46.94M -48.68M -41.77M -29.01M -31.45M -18.74M -21.76M -18.43M -3.05M -0.19M -5.16M -3.74M -0.28M 1.63M 0.00M -0.35M -0.12M -0.34M 0.35M
Net Debt Issuance 7.66M -1.88M -3.71M 102.90M 22.66M 25.74M 84.43M 42.62M 43.56M 52.12M 125.38M 122.25M 61.57M 79.90M 126.04M 36.62M 4.62M 54.98M -5.75M 97.53M 117.01M 53.18M 32.25M 52.98M -19.24M -49.31M 35.42M 70.37M 42.67M 34.58M 29.65M
Levered Free Cash Flow 384.86M 258.52M 274.20M 382.74M 326.21M 268.62M 349.87M 323.31M 216.86M 223.94M 319.98M 313.19M 225.12M 271.70M 202.04M -0.38M 64.22M 46.21M 40.63M 100.72M 46.95M 35.48M 68.21M 9.71M 16.30M -88.82M -75.47M 50.55M -5.84M 24.37M -21.32M