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Definitive Analysis

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Industry Analysis

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Industry Enterprise Value

Metric MRQ 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Stock Price 111.09 86.66 130.18 126.86 139.77 116.57 105.82 107.44 104.79 73.79 72.15 59.87 48.69 33.70 30.54 26.84 23.74 19.59 43.54 34.95 33.69 27.80 20.75 16.62 18.14 19.98 16.11 18.40 14.85 12.46 14.89
Market Capitalization 27,689.43M 16,690.67M 25,948.03M 29,836.51M 25,213.04M 23,647.85M 22,792.08M 21,840.42M 24,993.83M 17,382.06M 16,962.11M 14,773.81M 11,917.50M 8,078.56M 8,992.25M 8,109.25M 9,685.87M 7,381.94M 19,192.76M 15,297.54M 14,624.51M 7,405.93M 5,385.50M 4,128.65M 5,472.15M 7,890.95M 6,009.93M 7,100.97M 6,389.08M 4,318.79M 4,154.46M
(-) Cash & Equivalents 3,454.86M 2,325.97M 2,243.48M 2,097.24M 1,915.10M 2,068.08M 1,569.26M 1,531.47M 1,777.17M 1,977.42M 1,313.29M 1,092.53M 1,140.28M 1,031.94M 934.65M 816.91M 694.54M 848.04M 1,209.47M 967.86M 891.64M 788.76M 561.24M 524.86M 512.70M 437.03M 560.48M 639.82M 480.81M 518.19M 400.47M
(+) Total Debt 9,301.73M 8,283.72M 6,793.13M 6,542.36M 6,804.44M 5,321.48M 5,220.93M 9,906.39M 6,830.67M 5,487.33M 5,489.72M 4,585.67M 4,553.27M 2,986.60M 3,362.31M 2,933.53M 2,742.16M 2,875.45M 3,420.28M 2,267.83M 1,865.68M 1,374.99M 813.23M 884.60M 807.41M 668.58M 771.09M 941.35M 693.43M 537.86M 298.46M
Enterprise Value 33,934,872,756.98 27,744,700,728.46 31,559,739,370.08 36,049,219,440.35 32,815,322,873.41 27,985,542,966.13 26,463,501,706.06 28,666,745,004.63 29,812,169,133.18 20,901,667,258.59 21,165,112,750.30 18,836,445,710.05 15,875,022,011.14 11,244,656,506.29 11,123,733,654.20 10,190,713,159.22 10,841,563,875.35 9,305,352,582.79 21,579,770,442.70 16,522,732,666.43 15,548,325,639.62 8,067,016,703.59 5,596,788,717.42 4,438,124,281.96 5,704,761,027.38 7,862,536,478.81 5,983,409,381.06 7,038,841,808.14 6,473,536,650.50 4,236,427,419.67 4,326,496,662.83

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 78,190.79M 51,846.49M 49,262.98M 44,808.41M 42,261.99M 35,153.29M 30,158.22M 29,456.31M 35,950.75M 34,127.82M 32,013.34M 29,235.85M 27,266.56M 24,083.08M 22,797.41M 21,836.14M 22,996.99M 21,767.71M 26,424.07M 20,429.55M 16,612.85M 11,995.73M 10,617.83M 10,558.67M 9,742.56M 10,141.21M 10,044.46M 10,563.83M 7,637.73M 7,202.59M 5,367.19M
Cost of Revenue 47,342.84M 8,753.23M 7,284.65M 6,915.93M 6,577.25M 4,381.28M 3,896.42M 8,620.83M 9,718.44M 9,198.12M 8,484.43M 7,460.61M 1,873.39M 1,753.75M 1,286.29M 1,141.70M 1,092.97M 940.51M 11,647.41M 6,737.02M 5,764.85M 4,615.04M 4,146.96M 4,086.04M 3,898.85M 3,460.28M 3,521.12M 3,373.24M 3,014.92M 2,395.30M 1,313.43M
Gross Profit 30,847.95M 43,093.26M 41,978.34M 37,892.48M 35,684.74M 30,772.01M 26,261.80M 20,835.48M 26,232.31M 24,929.71M 23,528.91M 21,775.24M 25,393.17M 22,329.34M 21,511.11M 20,694.44M 21,904.02M 20,827.19M 14,776.66M 13,692.52M 10,848.00M 7,380.69M 6,470.87M 6,472.63M 5,843.70M 6,680.92M 6,523.34M 7,190.59M 4,622.82M 4,807.29M 4,053.76M
Gross Margin 39.5% 83.1% 85.2% 84.6% 84.4% 87.5% 87.1% 70.7% 73.0% 73.0% 73.5% 74.5% 93.1% 92.7% 94.4% 94.8% 95.2% 95.7% 55.9% 67.0% 65.3% 61.5% 60.9% 61.3% 60.0% 65.9% 64.9% 68.1% 60.5% 66.7% 75.5%
R&D Expenses 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.03M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 426.04M 469.35M 132.66M 426.91M 307.49M 443.31M 379.37M 1,782.95M 1,990.53M 2,223.48M 457.64M 340.36M 288.76M 245.52M 3,455.76M 3,422.81M 3,392.95M 3,216.53M 3,844.23M 3,070.67M 2,408.43M 1,922.37M 1,480.52M 1,261.49M 1,282.49M 344.10M 1,021.89M 1,044.95M 974.87M 878.58M 439.34M
Operating Expenses 426.04M 469.35M 132.66M 426.91M 307.49M 443.31M 379.37M 1,782.98M 1,990.53M 2,223.48M 457.64M 340.36M 288.76M 245.52M 3,455.76M 3,422.81M 3,392.95M 3,216.53M 3,844.23M 3,070.67M 2,408.43M 1,922.37M 1,480.52M 1,261.49M 1,282.49M 344.10M 1,021.89M 1,044.95M 974.87M 878.58M 439.34M
Operating Income 30,421.91M 42,623.90M 41,845.68M 37,465.57M 35,377.25M 30,328.70M 25,882.44M 19,052.50M 24,241.78M 22,706.23M 23,071.27M 21,434.89M 25,104.40M 22,083.82M 18,055.35M 17,271.63M 18,511.07M 17,610.66M 10,932.43M 10,621.86M 8,439.57M 5,458.33M 4,990.35M 5,211.15M 4,561.21M 6,336.82M 5,501.45M 6,145.64M 3,647.94M 3,928.72M 3,614.42M
Operating Margin 38.9% 82.2% 84.9% 83.6% 83.7% 86.3% 85.8% 64.7% 67.4% 66.5% 72.1% 73.3% 92.1% 91.7% 79.2% 79.1% 80.5% 80.9% 41.4% 52.0% 50.8% 45.5% 47.0% 49.4% 46.8% 62.5% 54.8% 58.2% 47.8% 54.5% 67.3%
Interest Income 0.34M 0.03M 0.06M 0.06M 0.15M 0.07M 0.49M 1.62M 1.69M 0.95M 1.40M 0.51M 0.89M 1.64M 1.47M 1.11M 1.71M 1.48M 0.95M 0.30M 0.22M 0.15M 0.12M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Expense 443.69M 332.00M 286.71M 236.84M 231.61M 214.92M 201.48M 224.98M 262.51M 253.21M 205.45M 190.27M 185.20M 153.35M 151.51M 144.49M 150.06M 138.30M 99.72M 89.77M 54.69M 32.40M 27.43M 22.73M 17.21M 0.68M 0.78M 0.58M 1.18M 0.18M 0.39M
Net Interest Income -443.35M -331.96M -286.65M -236.78M -231.46M -214.85M -200.99M -223.36M -260.82M -252.26M -204.05M -189.76M -184.31M -151.71M -150.03M -143.38M -148.36M -136.81M -98.77M -89.47M -54.47M -32.25M -27.31M -22.73M -17.21M -0.68M -0.78M -0.58M -1.18M -0.18M -0.39M
Other Income / Expense -28,063.00M -40,863.71M -40,011.37M -35,631.52M -33,314.17M -28,335.57M -24,012.46M -17,744.34M -22,140.71M -20,751.44M -21,022.28M -19,512.93M -23,459.08M -20,449.03M -16,411.72M -15,575.06M -16,429.96M -16,468.84M -9,007.69M -9,035.11M -7,159.48M -4,585.66M -4,369.94M -4,894.69M -4,288.34M -6,059.17M -5,110.02M -5,912.62M -3,563.72M -3,604.42M -3,512.05M
Pre-Tax Income 1,915.56M 1,428.23M 1,547.67M 1,597.27M 1,831.62M 1,778.28M 1,668.98M 1,084.80M 1,840.25M 1,702.54M 1,844.94M 1,732.19M 1,461.01M 1,483.09M 1,493.59M 1,553.18M 1,932.76M 1,005.01M 1,825.96M 1,497.27M 1,225.62M 840.42M 593.10M 293.72M 255.67M 276.97M 390.65M 232.43M 83.05M 324.12M 101.98M
Pre-Tax Margin 2.4% 2.8% 3.1% 3.6% 4.3% 5.1% 5.5% 3.7% 5.1% 5.0% 5.8% 5.9% 5.4% 6.2% 6.6% 7.1% 8.4% 4.6% 6.9% 7.3% 7.4% 7.0% 5.6% 2.8% 2.6% 2.7% 3.9% 2.2% 1.1% 4.5% 1.9%
Income Tax Expense 467.16M 402.25M 229.45M 418.23M 390.28M 490.76M 343.36M 403.99M 580.84M 778.69M 811.44M 713.51M 464.20M 477.66M 501.98M 519.23M 656.00M 222.67M 664.97M 547.21M 427.75M 281.32M 204.39M 136.16M 177.87M 162.68M 155.50M 118.15M 138.11M 134.05M 49.10M
Tax Rate 24.4% 28.2% 14.8% 26.2% 21.3% 27.6% 20.6% 35.0% 31.6% 35.0% 35.0% 35.0% 31.8% 32.2% 33.6% 33.4% 33.9% 22.2% 35.0% 35.0% 34.9% 33.5% 34.5% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0%
Net Income 1,448.41M 1,025.98M 1,318.22M 1,179.04M 1,441.34M 1,287.52M 1,325.63M 680.81M 1,259.41M 923.85M 1,033.50M 1,018.68M 996.81M 1,005.43M 991.61M 1,033.96M 1,276.77M 782.34M 1,160.99M 950.07M 797.87M 559.10M 388.71M 157.56M 77.80M 114.29M 235.15M 114.28M -55.06M 190.07M 52.88M
Net Margin 1.9% 2.0% 2.7% 2.6% 3.4% 3.7% 4.4% 2.3% 3.5% 2.7% 3.2% 3.5% 3.7% 4.2% 4.3% 4.7% 5.6% 3.6% 4.4% 4.7% 4.8% 4.7% 3.7% 1.5% 0.8% 1.1% 2.3% 1.1% -0.7% 2.6% 1.0%
EBIT 30,421.91M 42,623.90M 41,845.68M 37,465.57M 35,377.25M 30,328.70M 25,882.44M 19,052.50M 24,241.78M 22,706.23M 23,071.27M 21,434.89M 25,104.40M 22,083.82M 18,055.35M 17,271.63M 18,511.07M 17,610.66M 10,932.43M 10,621.86M 8,439.57M 5,458.33M 4,990.35M 5,211.15M 4,561.21M 6,336.82M 5,501.45M 6,145.64M 3,647.94M 3,928.72M 3,614.42M
Depreciation & Amortization 698.19M 405.57M 487.87M 464.58M 387.77M 328.15M 320.48M 343.71M 343.88M 350.69M 344.62M 332.31M 308.00M 251.33M 248.39M 227.10M 208.55M 209.36M 220.03M 192.24M 207.26M 145.30M 128.24M 114.77M 116.25M 106.12M 112.43M 116.09M 116.95M 68.88M 53.83M
EBITDA 31,120.11M 43,029.47M 42,333.56M 37,930.16M 35,765.02M 30,656.85M 26,202.92M 19,396.21M 24,585.66M 23,056.92M 23,415.89M 21,767.20M 25,412.40M 22,335.15M 18,303.74M 17,498.72M 18,719.62M 17,820.02M 11,152.45M 10,814.10M 8,646.83M 5,603.63M 5,118.59M 5,325.92M 4,677.46M 6,442.94M 5,613.88M 6,261.73M 3,764.90M 3,997.59M 3,668.25M
EBITDA Margin 39.8% 83.0% 85.9% 84.6% 84.6% 87.2% 86.9% 65.8% 68.4% 67.6% 73.1% 74.5% 93.2% 92.7% 80.3% 80.1% 81.4% 81.9% 42.2% 52.9% 52.0% 46.7% 48.2% 50.4% 48.0% 63.5% 55.9% 59.3% 49.3% 55.5% 68.3%
NOPAT 23,002.78M 30,619.17M 35,641.96M 27,655.66M 27,839.02M 21,958.78M 20,557.72M 12,384.12M 16,590.33M 14,759.05M 14,996.32M 13,932.68M 17,128.10M 14,971.27M 11,987.12M 11,497.74M 12,228.25M 13,708.85M 7,106.08M 6,904.21M 5,494.12M 3,631.24M 3,270.62M 3,387.25M 2,964.79M 4,118.93M 3,575.94M 3,994.66M 2,371.16M 2,553.67M 2,349.37M
NOPAT Margin 29.4% 59.1% 72.4% 61.7% 65.9% 62.5% 68.2% 42.0% 46.1% 43.2% 46.8% 47.7% 62.8% 62.2% 52.6% 52.7% 53.2% 63.0% 26.9% 33.8% 33.1% 30.3% 30.8% 32.1% 30.4% 40.6% 35.6% 37.8% 31.0% 35.5% 43.8%
Owner's Earnings 2,146.60M 1,431.55M 1,806.10M 1,643.63M 1,829.11M 1,615.67M 1,646.11M 1,024.52M 1,603.29M 1,274.53M 1,378.12M 1,350.99M 1,304.81M 1,256.76M 1,240.00M 1,261.05M 1,485.32M 991.70M 1,381.01M 1,142.31M 1,005.13M 704.40M 516.95M 272.33M 194.05M 220.41M 347.58M 230.38M 61.89M 258.94M 106.72M
Owner's Earnings Margin 2.7% 2.8% 3.7% 3.7% 4.3% 4.6% 5.5% 3.5% 4.5% 3.7% 4.3% 4.6% 4.8% 5.2% 5.4% 5.8% 6.5% 4.6% 5.2% 5.6% 6.1% 5.9% 4.9% 2.6% 2.0% 2.2% 3.5% 2.2% 0.8% 3.6% 2.0%
EPS 3.71 3.42 4.40 3.60 4.10 3.86 3.99 1.85 3.15 2.30 2.57 2.53 2.47 2.47 2.44 2.52 3.26 1.97 2.26 2.23 1.87 1.42 0.99 0.40 0.20 0.29 0.52 0.21 -0.09 0.35 0.10
EPS (Diluted) 3.71 3.42 4.40 3.60 4.10 3.86 3.99 1.85 3.15 2.30 2.57 2.53 2.47 2.47 2.44 2.52 3.26 1.97 2.26 2.23 1.87 1.42 0.99 0.40 0.20 0.29 0.52 0.21 -0.09 0.35 0.10
Shares (Diluted) 389.94M 300.10M 299.41M 327.65M 351.92M 333.54M 332.42M 368.23M 399.92M 402.01M 402.31M 402.53M 404.21M 406.56M 407.19M 410.27M 392.23M 397.08M 513.38M 426.19M 427.10M 393.11M 392.40M 394.48M 391.77M 394.84M 455.75M 541.53M 598.17M 540.35M 537.28M

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 3,454.86M 2,325.97M 2,385.11M 2,097.24M 1,915.10M 2,070.31M 1,565.51M 1,650.87M 1,777.17M 1,977.42M 1,313.29M 1,092.53M 1,140.28M 1,031.94M 934.65M 816.91M 694.54M 848.04M 1,209.47M 967.86M 891.64M 788.76M 561.24M 524.86M 512.70M 437.03M 560.48M 639.82M 480.81M 518.19M 400.47M
Short-Term Investments 1,015.31M 621.51M 976.39M 650.22M 883.47M 1,390.23M 1,149.34M 1,036.20M 867.77M 523.62M 707.01M 358.98M 746.88M 348.10M 2,257.70M 2,037.86M 1,772.86M 120.25M 2,218.62M 2,366.21M 3,701.09M 3,064.80M 1,603.48M 1,507.55M 963.29M 250.78M 366.70M 375.29M 566.17M 413.86M 480.61M
Cash & Short-Term Investments 4,470.17M 2,947.48M 3,361.50M 2,747.46M 2,798.57M 3,460.53M 2,714.85M 2,687.06M 2,644.94M 2,501.04M 2,020.30M 1,451.50M 1,887.16M 1,380.04M 3,192.35M 2,854.77M 2,467.40M 968.29M 3,428.10M 3,334.06M 4,592.73M 3,853.56M 2,164.72M 2,032.40M 1,475.99M 687.80M 927.18M 1,015.11M 1,046.98M 932.04M 881.08M
Net Receivables 7,494.04M 4,892.84M 4,742.07M 4,047.47M 3,679.18M 2,847.26M 2,684.60M 3,364.72M 2,980.58M 2,799.94M 2,337.17M 1,633.66M 1,004.59M 1,447.54M 1,787.99M 1,282.99M 1,296.46M 1,241.15M 1,286.35M 1,350.59M 1,304.22M 982.41M 575.49M 370.27M 453.51M 323.08M 369.33M 434.00M 426.72M 359.28M 306.70M
Inventory 0.04M 0.03M 0.62M 9.42M 0.20M 9.42M 7.12M 9.64M 11.22M 0.17M 0.10M 2.09M 0.17M 0.36M 0.14M 0.08M 0.04M 0.01M 0.04M 112.22M 129.51M 71.42M 54.51M 87.14M 71.22M 1.09M 0.79M 0.73M 0.78M 1.71M 1.04M
Other Current Assets 783.64M 161.17M 100.56M 301.62M 80.08M 281.41M -107.37M 256.53M 98.09M 64.29M 123.53M 401.63M -40.55M 381.46M 417.85M 258.87M 487.86M 596.32M 1,005.97M 1,131.80M 887.20M 641.32M 497.61M 8.27M -50.63M 456.81M 418.18M 496.31M 156.97M 238.44M 255.33M
Total Current Assets 12,747.89M 8,001.52M 8,204.74M 7,105.98M 6,558.04M 6,598.64M 5,299.19M 6,317.95M 5,734.82M 5,365.44M 4,481.10M 3,488.88M 2,851.37M 3,209.40M 5,398.34M 4,396.71M 4,251.76M 2,805.78M 5,720.45M 5,928.67M 6,913.67M 5,548.71M 3,292.33M 2,498.09M 1,950.09M 1,468.79M 1,715.49M 1,946.14M 1,631.44M 1,531.48M 1,444.15M
Property, Plant & Equipment 1,057.88M 779.06M 967.96M 983.93M 1,078.54M 810.89M 702.83M 902.44M 861.56M 812.58M 811.21M 770.48M 731.31M 664.51M 601.48M 501.88M 425.02M 448.25M 678.57M 622.06M 573.90M 475.58M 421.26M 477.51M 451.86M 296.52M 287.11M 414.26M 452.74M 516.06M 522.35M
Goodwill 13,333.33M 7,347.41M 7,035.00M 6,415.59M 6,894.88M 5,502.16M 5,150.91M 12,270.31M 6,263.37M 5,805.79M 5,788.82M 5,624.12M 5,616.17M 5,584.72M 4,410.64M 4,238.63M 4,119.31M 580.08M 5,107.58M 3,344.10M 3,015.82M 2,188.22M 775.12M 874.33M 172.64M 175.56M 201.50M 283.55M 38.08M 184.00M 462.00M
Intangible Assets 6,405.41M 2,960.46M 2,699.96M 2,575.81M 2,728.93M 2,272.58M 2,074.24M 2,900.36M 2,457.06M 2,356.08M 2,417.94M 1,210.19M 1,413.85M 1,632.67M 996.04M 977.60M 1,013.64M 1,453.38M 2,061.09M 541.89M 746.36M 691.43M 273.90M 296.55M 603.13M 525.70M 597.44M 840.66M 886.21M 248.08M 24.90M
Long-Term Investments 4,423.60M 442.60M 35.77M 341.38M 217.69M 446.69M 393.00M 3,755.70M 460.05M 399.29M 372.15M 372.69M 20.23M 11.13M 315.65M 314.23M 300.40M 287.21M 2,636.85M 2,015.32M 1,863.86M 1,703.57M 2,153.92M 1,912.39M 1,367.99M 789.78M 832.55M 973.43M 1,179.50M 811.99M 617.49M
Tax Assets 0.08M 1.59M 0.73M 7.29M 1.28M 1.65M 1.89M 4.41M 31.34M 14.18M 13.02M 12.30M 12.01M 6.11M 15.90M 7.83M 4.94M 24.75M 19.62M 34.68M 38.95M 29.14M 0.00M 0.51M 1.80M 0.00M 0.34M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 1,644.28M 131.55M 111.46M 101.53M 113.92M -10.78M -4.05M 2,053.19M 403.96M -56.62M 257.20M 297.89M 302.16M -1,497.31M -1,111.43M -1,263.92M -873.06M -928.28M -784.52M -620.91M -589.83M -185.20M -168.34M -2,316.17M -1,054.38M 106.32M 93.38M 88.89M 124.74M 183.80M 64.08M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1.21M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 10.80M 119.04M 136.26M 25.41M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 26,864.58M 11,662.68M 10,850.89M 10,425.54M 11,035.24M 9,023.18M 8,320.04M 21,886.42M 10,477.33M 9,331.29M 9,660.34M 8,287.68M 8,095.73M 6,401.84M 5,228.29M 4,776.25M 4,990.26M 1,865.40M 9,719.19M 5,937.14M 5,649.06M 4,902.75M 3,455.86M 1,255.91M 1,662.08M 2,030.13M 2,037.73M 2,600.80M 2,681.27M 1,943.94M 1,690.82M
Total Assets 39,612.46M 19,664.20M 19,055.63M 17,531.52M 17,593.28M 15,621.82M 13,619.23M 28,204.36M 16,212.16M 14,696.73M 14,141.44M 11,776.57M 10,947.10M 9,611.25M 10,626.62M 9,172.96M 9,242.02M 4,671.18M 15,439.64M 11,865.81M 12,562.73M 10,451.46M 6,748.19M 3,754.01M 3,612.17M 3,498.92M 3,753.22M 4,546.94M 4,312.71M 3,475.41M 3,134.97M
Accounts Payable 11,063.24M 3,926.03M 3,888.76M 3,643.21M 3,243.15M 2,741.24M 2,548.56M 3,587.21M 2,502.55M 2,708.03M 2,507.22M 2,298.69M 1,541.26M 1,401.28M 2,497.51M 1,003.16M 973.36M 911.64M 1,236.01M 872.57M 1,200.75M 878.55M 427.38M 446.62M 77.31M 9.35M 11.32M 373.78M 497.88M 701.24M 537.76M
Short-Term Debt 798.07M 481.90M 477.06M 434.23M 500.47M 194.86M 553.43M 637.04M 776.63M 441.29M 202.11M 293.58M 172.07M 194.60M 259.92M 311.13M 119.03M 339.96M 421.36M 420.41M 239.28M 162.36M 131.36M 289.51M 164.84M 220.23M 223.53M 250.79M 158.73M 6.21M 20.58M
Tax Payables 0.00M 0.62M 0.56M 0.49M 0.43M 0.38M 0.26M 0.27M 1.78M 2.56M 2.48M 2.69M 2.34M 0.67M 0.52M 0.39M 1.96M 1.37M 1.73M 2.13M 0.47M 84.92M 6.98M 0.70M 0.79M 0.00M 0.00M 0.00M 3.33M 10.67M 11.67M
Deferred Revenue 1.44M 2.28M 0.77M 1.82M 41.23M 29.04M 4.15M 49.19M 77.09M 86.12M 60.82M 54.44M 34.42M 40.07M 15.71M 58.09M 29.78M 0.00M 4.51M 33.36M 25.62M 2.58M 7.45M 2.39M 2.68M 2.70M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 3,506.28M 198.20M 71.01M 721.40M 513.86M 150.42M 479.75M 1,380.00M 726.72M 485.41M 460.00M 386.42M 367.01M 359.71M -292.27M 99.18M 132.23M 217.57M 729.03M 156.65M 26.68M 59.17M 76.92M 141.61M 77.93M 267.03M 275.78M -324.20M 38.25M -280.71M -163.35M
Total Current Liabilities 15,369.03M 4,609.04M 4,438.16M 4,801.15M 4,299.14M 3,115.94M 3,586.16M 5,653.71M 4,084.77M 3,723.41M 3,232.62M 3,035.83M 2,117.10M 1,996.32M 2,481.39M 1,471.96M 1,256.35M 1,470.54M 2,392.64M 1,485.12M 1,492.79M 1,187.58M 650.10M 880.83M 323.55M 499.30M 510.63M 300.37M 698.20M 437.40M 406.65M
Long-Term Debt 10,919.21M 7,687.81M 6,635.01M 5,969.92M 6,165.08M 5,109.20M 4,613.80M 9,736.43M 5,779.58M 4,794.89M 5,080.09M 4,048.02M 4,240.04M 3,215.89M 2,948.42M 2,620.09M 2,680.16M 2,535.48M 3,027.47M 1,764.96M 1,136.08M 1,119.32M 663.48M 556.89M 542.48M 444.14M 509.22M 641.73M 608.81M 482.47M 288.86M
Capital Lease Obligations 1.83M 5.38M 60.19M 146.16M 177.70M 55.56M 5.11M 56.93M 202.36M 57.74M 13.37M 16.09M 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 0.00M
Deferred Tax Liabilities 996.87M 506.12M 493.32M 3.45M 3.59M 5.24M 8.90M 455.80M 477.02M 764.82M 722.73M 571.98M 501.65M 687.49M 711.19M 687.43M 530.78M 451.17M 745.09M 238.67M 245.48M 163.53M 98.55M 134.66M 8.66M 6.22M 6.80M 6.86M 0.00M 4.12M 0.00M
Other Non-Current Liabilities 4,894.52M 3,238.85M 2,998.13M 3,037.40M 3,371.67M 3,564.93M 2,955.07M 3,222.03M 2,332.79M 2,152.42M 1,300.00M 1,259.10M 1,256.52M -680.28M -474.85M -436.18M -452.24M -494.33M -317.98M -209.81M 13.77M -23.18M -144.58M -468.94M -202.17M -88.49M -88.91M -194.24M -230.61M 118.80M 1.86M
Total Non-Current Liabilities 16,812.43M 11,438.17M 10,186.65M 9,156.92M 9,718.04M 8,734.93M 7,582.88M 13,471.18M 8,791.75M 7,769.86M 7,116.18M 5,895.19M 5,998.21M 3,223.10M 3,184.77M 2,871.35M 2,758.71M 2,492.32M 3,454.59M 1,793.82M 1,395.33M 1,259.67M 617.46M 222.62M 348.97M 361.86M 427.11M 454.35M 378.20M 605.40M 290.73M
Total Liabilities 32,181.46M 16,047.20M 14,624.81M 13,958.08M 14,017.17M 11,850.86M 11,169.03M 19,124.89M 12,876.52M 11,493.27M 10,348.80M 8,931.02M 8,115.32M 5,219.42M 5,666.15M 4,343.30M 4,015.06M 3,962.86M 5,847.23M 3,278.94M 2,888.12M 2,447.25M 1,267.55M 1,103.45M 672.52M 861.17M 937.74M 754.72M 1,076.40M 1,042.80M 697.38M
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 44.52M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 50.01M 10.86M 38.01M 33.27M 35.48M 30.46M 30.22M 42.15M 56.73M 40.12M 40.19M 40.40M 42.17M 42.19M 42.21M 42.02M 22.99M 18.62M 31.96M 17.37M 14.07M 12.84M 14.85M 16.37M 15.98M 15.67M 12.59M 14.52M 16.09M 16.02M 15.79M
Retained Earnings 15,958.89M 9,490.41M 9,690.94M 8,366.68M 8,132.64M 6,979.91M 6,000.99M 7,188.29M 7,854.61M 7,097.79M 6,399.92M 5,903.40M 6,048.31M 5,489.48M 4,949.73M 4,487.60M 3,943.17M 2,936.94M 3,630.72M 2,985.72M 2,525.60M 1,875.31M 1,708.79M 1,514.02M 1,304.57M 1,204.58M 1,224.70M 1,216.47M 1,420.67M 1,234.70M 1,136.11M
Accumulated OCI -178.31M -264.14M -274.80M -393.85M -7.12M 12.69M -63.27M -290.50M -183.18M -205.85M -185.42M -111.40M -99.17M 36.63M -10.96M -3.14M -26.54M -82.72M 24.32M -27.24M -1.79M 29.60M 30.91M -13.08M 15.79M 18.22M 34.25M 14.43M 3.00M -3.83M 1.73M
Minority Interest 57.00M 33.54M 28.75M 28.91M 24.44M 9.69M 0.29M 10.26M 1.15M 1.23M 2.06M 1.66M 0.73M 0.57M 0.07M 0.60M 0.03M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.22M
Total Shareholders’ Equity 15,830.59M 9,237.13M 9,454.15M 8,006.10M 8,160.99M 7,023.05M 5,967.95M 6,939.94M 7,728.17M 6,932.06M 6,254.68M 5,832.40M 5,991.31M 5,568.31M 4,980.98M 4,526.47M 3,939.62M 2,872.83M 3,686.99M 2,975.85M 2,582.39M 1,917.75M 1,754.55M 1,517.31M 1,336.34M 1,238.47M 1,271.54M 1,245.41M 1,439.75M 1,246.89M 1,153.64M
Total Equity 15,887.59M 9,270.66M 9,482.91M 8,035.01M 8,185.43M 7,032.74M 5,968.24M 6,950.20M 7,729.31M 6,933.29M 6,256.74M 5,834.06M 5,992.04M 5,568.87M 4,981.05M 4,527.07M 3,939.65M 2,872.83M 3,686.99M 2,975.85M 2,582.39M 1,917.75M 1,754.55M 1,517.31M 1,336.34M 1,238.47M 1,271.54M 1,245.41M 1,439.75M 1,246.89M 1,153.86M
Total Liabilities & Equity 48,069.05M 25,317.87M 24,107.71M 21,993.09M 22,202.60M 18,883.61M 17,137.27M 26,075.10M 20,605.83M 18,426.56M 16,605.54M 14,765.09M 14,107.36M 10,788.30M 10,647.20M 8,870.37M 7,954.71M 6,835.70M 9,534.22M 6,254.79M 5,470.51M 4,365.00M 3,022.10M 2,620.75M 2,008.86M 2,099.64M 2,209.28M 2,000.13M 2,516.16M 2,289.69M 1,851.24M
Tangible Assets 19,873.72M 9,356.33M 9,320.66M 8,540.11M 7,969.47M 7,847.07M 6,394.08M 13,033.69M 7,491.73M 6,534.87M 5,934.68M 4,942.25M 3,917.08M 2,393.85M 5,219.94M 3,956.73M 4,109.07M 2,637.72M 8,270.97M 7,979.82M 8,800.55M 7,571.81M 5,699.18M 2,583.13M 2,836.40M 2,797.67M 2,954.28M 3,422.73M 3,388.42M 3,043.33M 2,648.07M
Tangible Equity -3,851.15M -1,037.20M -252.06M -956.40M -1,438.38M -742.00M -1,256.92M -8,220.47M -991.11M -1,228.57M -1,950.02M -1,000.25M -1,037.98M -1,648.52M -425.63M -689.17M -1,193.31M 839.37M -3,481.68M -910.14M -1,179.79M -961.90M 705.54M 346.43M 560.57M 537.22M 472.60M 121.20M 515.46M 814.80M 666.96M
Tangible Book Value -3,851,152,314.65 -1,037,201,640.74 -252,057,058.41 -956,398,126.86 -1,438,380,214.49 -741,997,569.05 -1,256,919,744.11 -8,220,469,179.01 -991,110,952.59 -1,228,572,359.75 -1,950,020,646.94 -1,000,248,550.17 -1,037,980,024.55 -1,648,524,358.41 -425,629,102.80 -689,167,571.39 -1,193,305,202.05 839,372,277.94 -3,481,677,478.76 -910,144,796.30 -1,179,793,239.64 -961,903,369.00 705,536,717.98 346,426,418.71 560,569,267.93 537,219,149.74 472,597,784.15 121,201,958.70 515,461,731.78 814,798,917.13 666,963,892.25
Total Investments 4,840.40M 1,191.76M 1,162.02M 1,020.20M 994.73M 639.45M 832.60M 4,594.39M 1,170.41M 990.03M 939.09M 848.19M 237.49M 121.14M 366.26M 641.98M 332.46M 324.98M 2,824.42M 2,152.76M 2,016.75M 2,068.91M 2,411.10M 2,146.49M 1,566.42M 993.83M 1,000.71M 1,067.64M 1,433.50M 1,039.38M 935.59M
Net Debt 8,262.41M 5,843.75M 4,726.96M 4,306.91M 4,750.45M 3,233.75M 3,601.72M 8,722.60M 4,779.04M 3,258.76M 3,968.91M 3,249.08M 3,271.83M 2,378.56M 2,273.69M 2,114.31M 2,104.65M 2,027.41M 2,239.36M 1,217.52M 483.72M 492.92M 233.60M 321.55M 194.62M 227.33M 172.28M 252.70M 286.73M -29.50M -91.03M

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 -1,821.26M 1,155.74M 1,142.05M 854.77M 767.51M 941.25M 697.64M -3,039.91M -759.96M 1,227.05M 2,605.77M 1,963.19M -721.58M 3,354.32M 4,427.88M 4,266.01M 4,331.31M 3,559.09M 2,846.34M 3,145.57M 2,257.75M 1,641.04M 1,025.02M 820.18M 809.16M 599.33M 981.09M -130.05M 306.67M 411.62M 286.37M
Total Capital 26,991.14M 19,268.58M 18,397.90M 16,217.24M 17,132.46M 14,184.63M 13,620.25M 23,366.40M 16,626.03M 14,954.82M 14,195.74M 13,445.25M 13,471.93M 11,235.30M 11,508.23M 10,956.98M 10,432.12M 9,499.44M 11,186.99M 8,381.13M 7,221.01M 5,119.62M 3,292.12M 3,192.76M 2,704.13M 2,445.49M 2,600.88M 3,077.46M 2,943.45M 2,434.23M 1,863.34M
Capital Employed 37,621.18M 29,552.21M 29,459.44M 26,101.10M 26,609.05M 22,417.39M 19,953.78M 34,997.98M 24,151.69M 23,107.54M 23,285.31M 22,857.19M 21,844.91M 22,985.14M 19,198.43M 18,054.98M 18,245.03M 16,988.27M 18,536.55M 15,365.82M 14,360.84M 11,738.75M 5,685.92M 5,188.48M 4,222.66M 3,702.72M 4,161.36M 3,637.73M 3,293.92M 2,896.10M 2,365.15M
Invested Capital 23,536.28M 16,942.62M 16,012.79M 14,120.00M 15,217.36M 12,114.32M 12,054.74M 21,715.54M 14,848.86M 12,977.39M 12,882.45M 12,352.73M 12,331.65M 10,203.36M 10,573.58M 10,140.07M 9,737.57M 8,651.40M 9,977.51M 7,413.28M 6,329.37M 4,330.85M 2,730.88M 2,667.90M 2,191.44M 2,008.46M 2,040.40M 2,437.64M 2,462.64M 1,916.04M 1,462.87M

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 605.38M 408.25M 486.06M 464.92M 388.98M 328.42M 321.23M 353.92M 372.44M 380.00M 370.35M 357.03M 365.83M 305.59M 248.31M 125.70M 116.06M 107.39M 266.63M 239.43M 207.26M 145.30M 142.03M 97.74M 142.88M 172.08M 160.34M 153.70M 171.92M 118.36M 124.07M
Deferred Income Tax 31.30M -22.49M -69.55M -31.89M -19.79M -15.99M 2.98M 20.23M -216.22M 24.25M -21.71M -20.40M 8.87M 2.49M 24.61M 34.37M 16.46M -48.86M -10.90M 25.89M 34.87M 8.78M 35.53M 28.20M 29.86M 17.77M 22.33M -47.00M 7.80M 48.48M -33.28M
Stock-Based Compensation 84.61M 73.83M 75.29M 87.15M 78.98M 50.95M 44.71M 62.66M 68.64M 61.63M 57.58M 60.30M 51.66M 47.24M 46.42M 45.15M 50.39M 33.81M 40.35M 53.19M 0.26M 0.82M 0.27M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 307.01M 30.52M 5.38M 285.00M 379.86M 1,077.07M 183.63M -213.64M 292.35M 235.01M 277.05M 221.50M -90.54M 122.02M 55.74M -54.97M 13.50M -14.10M 95.49M 315.74M 164.81M 23.23M 156.41M 337.97M -126.75M 233.02M 220.96M 231.96M 372.77M -116.89M 470.12M
Accounts Receivable -805.59M -177.74M -483.33M -479.46M -300.83M -78.59M -90.67M -209.63M -185.88M -144.52M -179.06M -335.03M -117.56M -0.48M -33.83M -1.17M -2.51M -48.29M 39.81M -144.81M -60.80M -10.43M -62.92M -39.21M -17.13M -30.57M 11.70M -39.33M -41.30M -77.53M 54.98M
Inventory 0.00M 0.00M 1.23M 0.00M 2.49M 0.36M -0.98M -223.87M -14.50M -2.26M -3.07M 2.79M -1.06M -40.44M -0.02M -0.02M -0.04M 0.00M -140.54M -129.08M 21.48M 37.91M 0.27M 0.59M -1.32M -32.99M -11.11M -84.80M 85.40M -24.20M -142.48M
Accounts Payable 171.73M 61.50M 458.70M 265.98M 207.61M 643.80M 290.95M 68.08M 327.16M 47.80M 143.55M 160.27M 98.58M 3.15M 11.18M -10.91M 1.09M -11.63M 91.12M 235.86M 78.39M 56.46M 62.69M 185.57M -43.36M 146.33M 89.67M 248.00M 227.40M 93.96M 205.21M
Other Working Capital 232.83M -238.01M 22.63M 269.82M 69.93M 376.08M 163.91M 47.26M 26.22M 28.98M 66.60M 132.62M 23.92M 61.17M -32.99M -93.13M -74.62M 37.65M 144.97M 232.23M 116.24M 6.62M -33.28M 95.50M -84.84M 23.84M -105.58M -46.66M 128.09M -90.74M 388.01M
Other Non-Cash Items -129.68M -7.97M 130.69M 92.95M 5.70M -160.55M -3.20M 93.98M 186.21M 20.65M 48.38M -19.09M 2.32M -47.34M -13.97M 15.26M -1.33M 28.48M -29.04M -32.22M -127.11M -11.57M 50.15M -126.59M 71.48M -145.98M -2.66M 32.48M 19.44M 149.18M 241.62M
Net Cash from Operating Activities 2,025.04M 1,651.27M 2,222.63M 2,335.54M 2,074.93M 2,942.62M 1,778.20M 1,263.57M 2,021.55M 1,652.49M 1,641.10M 1,398.92M 1,117.29M 1,205.79M 1,283.95M 956.35M 1,069.89M 962.71M 1,518.60M 1,267.99M 990.16M 574.62M 825.24M 603.54M 483.59M 664.81M 567.51M 355.87M 590.84M 451.53M 459.66M
Capital Expenditures (PPE) -365.48M -340.38M -373.61M -349.33M -367.88M -311.92M -303.55M -352.76M -324.71M -273.23M -280.31M -280.57M -270.75M -239.02M -221.91M -181.35M -156.46M -150.95M -156.66M -97.53M -77.23M -63.97M -122.62M -155.74M -135.13M -113.99M -304.44M -95.77M -96.07M -88.25M -58.54M
Acquisitions (Net) -2.50M -27.60M -116.05M -34.07M -520.33M -191.56M -8.02M -1,569.57M -369.53M -59.70M -226.87M -44.87M -64.44M -1,127.55M -201.54M -175.55M -29.67M -497.76M -129.15M -91.94M -124.94M -686.86M -22.25M -77.50M -36.90M -31.43M -47.42M -172.92M -277.78M -21.57M -291.20M
Purchases of Investments -2,098.56M -2,314.30M -2,343.64M -1,970.94M -2,057.86M -2,771.18M -1,874.86M -1,608.08M -2,467.54M -2,630.79M -1,822.79M -2,486.35M -836.72M -526.29M -1,258.17M -734.61M -2,135.43M -1,908.16M -1,382.47M -1,902.52M -2,091.92M -1,701.04M -2,002.09M -1,802.07M -1,508.25M -1,212.10M -867.89M -1,105.97M -2,700.00M -2,091.54M -1,396.07M
Sales / Maturities of Investments 2,670.98M 1,791.41M 1,649.88M 1,431.31M 2,121.04M 2,044.64M 2,191.60M 1,882.86M 2,181.40M 2,279.52M 2,377.07M 1,119.78M 1,027.86M 930.93M 978.52M 1,141.38M 625.26M 1,680.53M 1,273.25M 2,125.27M 2,050.56M 2,338.19M 1,769.67M 1,607.16M 1,313.27M 976.52M 834.28M 1,341.54M 2,726.88M 5,833.35M 6,664.22M
Other Investing Activities -105.42M -13.50M -6.24M -12.21M -33.28M -13.29M -1.89M -58.89M -14.24M 6.62M 28.85M 139.40M -114.03M 76.70M 17.45M -76.29M 97.55M 51.83M 144.07M 22.71M 125.92M 9.87M 0.56M 1.36M 34.63M 11.90M 123.57M 15.40M 337.92M 40.39M 69.80M
Net Cash from Investing Activities -870.35M -930.67M -1,488.88M -333.29M -1,782.88M -816.76M -385.11M -2,986.59M -1,382.22M -915.37M -734.83M -685.74M -682.24M -1,447.35M -595.76M -750.77M -403.87M -793.77M -662.38M -555.75M -337.33M -601.86M -414.92M -572.02M -434.79M -466.45M -185.49M -186.25M -435.90M -193.36M -549.72M
Net Debt Issuance 281.45M 315.55M 100.76M 4.58M 173.37M 53.22M 27.63M 971.20M 207.79M 4.18M 213.64M 120.37M 37.44M 266.27M 94.94M 28.11M -168.70M 181.84M 953.53M 303.69M 555.01M 530.90M 13.11M 87.53M 84.12M 13.10M -56.41M 90.25M 261.20M -9.30M 51.54M
Long-Term Debt Issuance 82.88M 463.54M 51.11M 4.56M 29.54M 104.03M 27.64M 977.48M 330.45M -0.03M 191.46M 176.31M 162.08M 261.36M 234.00M 8.55M 16.76M 197.39M 325.07M 185.49M 18.17M 192.96M 45.24M 120.21M 89.31M 134.17M -9.01M -35.96M 116.40M -11.32M 55.60M
Short-Term Debt Issuance 39.00M -35.56M 18.08M 0.00M -0.03M 0.00M -84.71M 22.93M -61.09M -0.55M -5.73M -18.82M -30.44M 28.36M 13.25M 19.57M -72.37M 38.95M 222.91M 57.67M 190.43M 38.80M -31.84M -13.42M 3.25M -60.67M -21.00M 74.33M 144.80M 44.40M 0.00M
Net Stock Issuance -282.71M -792.39M -570.31M -693.90M -22.94M -462.25M -265.26M -79.95M -1,004.81M -37.93M -416.27M -1,034.46M -578.63M -597.05M -762.24M -437.42M -418.93M -113.74M -1,541.84M -575.20M -93.74M 18.87M -28.25M -97.04M -248.20M -332.64M -293.67M -269.00M 46.42M 34.01M 12.47M
Common Stock Issuance 22.74M 0.23M 0.26M 0.70M 136.16M 1.71M 0.54M 15.45M 9.81M 6.42M 42.49M 4.51M 3.02M 31.19M 19.52M 37.23M 0.00M 10.09M 240.15M 133.19M 142.38M 104.68M 40.91M 22.32M 56.22M 44.85M 17.84M 33.29M 63.87M 53.21M 15.49M
Common Stock Repurchased -293.74M -792.24M -570.54M -693.95M -40.53M -464.85M -266.54M -266.66M -1,065.06M -65.31M -453.76M -1,063.45M -594.12M -749.86M -926.75M -457.58M -506.93M -138.10M -1,732.36M -706.14M -100.26M -37.20M -57.62M -115.58M -298.61M -424.94M -327.67M -147.73M -6.40M -29.40M -2.14M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -1.12M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 -467.47M -386.02M -355.81M -314.81M -308.10M -80.29M -75.93M -190.93M -220.79M -213.32M -200.32M -151.36M -141.51M -119.65M -107.48M -9.07M -3.53M -4.20M -3.75M -4.05M -4.55M -6.20M -25.09M -24.71M -27.72M -36.27M -36.12M -40.06M -42.04M -61.82M -89.84M
Common Dividends Paid -467.47M -386.02M -355.81M -314.81M -308.10M -80.29M -75.93M -190.93M -220.75M -213.32M -200.32M -151.36M -141.51M -119.65M -107.48M -9.07M -1.37M -1.01M -1.12M -1.08M -1.76M -2.21M -2.71M -2.40M -2.54M -2.17M -2.22M -0.45M 0.00M 0.00M 0.00M
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 -122.82M -65.84M -6.84M 104.85M 149.83M 141.91M -69.60M -160.90M 87.29M 81.17M -20.53M 9.62M 9.99M -41.82M 75.37M 92.91M 69.00M -14.54M 142.22M 22.33M 13.09M 7.75M 13.04M -3.24M -23.35M 2.51M -27.85M 11.83M 123.60M 21.95M 521.24M
Net Cash from Financing Activities -260.90M -315.68M -208.85M -336.79M 235.46M -671.03M -703.22M -279.30M -748.66M -224.45M 113.20M -700.40M -496.94M 1.58M -666.85M -456.20M -635.76M -162.90M -215.21M 242.87M 62.41M 344.98M -259.63M -68.52M -65.05M -280.19M -273.97M 36.22M 213.06M -11.22M 535.02M
Effect of FX on Cash -6.24M 0.00M 0.01M 0.00M -0.37M -0.35M 0.00M -1.00M 0.27M 1.01M -5.94M -2.09M 0.60M 0.00M -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
Net Change in Cash 393.59M 2.53M -27.34M 293.10M 77.83M 604.32M 268.61M -9.50M 0.72M 458.00M 220.17M 187.82M -53.42M -4.18M 87.54M 42.91M -52.87M -198.34M 188.33M 225.89M 290.82M 281.13M 42.21M 1.44M 7.86M -63.17M 16.67M 70.00M 181.99M -21.95M -100.60M
Cash at Beginning of Period 2,536.73M 2,275.24M 2,204.35M 1,802.69M 2,129.90M 1,632.29M 1,291.51M 1,417.54M 1,990.97M 1,355.98M 1,092.52M 1,140.72M 1,034.47M 934.65M 813.75M 685.96M 848.03M 933.91M 967.93M 891.45M 788.76M 561.24M 524.86M 516.65M 518.85M 748.81M 760.98M 510.98M 618.56M 608.58M 748.65M
Cash at End of Period 3,748.29M 2,511.68M 2,275.24M 2,204.35M 1,920.59M 2,075.38M 1,648.36M 1,554.47M 1,795.66M 1,990.97M 1,313.29M 1,092.53M 1,140.72M 1,034.47M 924.93M 813.79M 694.28M 850.86M 1,209.47M 967.86M 891.45M 788.76M 614.69M 524.86M 563.94M 652.76M 748.81M 760.98M 790.95M 577.52M 578.43M
Operating Cash Flow 2,025.04M 1,651.27M 2,222.63M 2,335.54M 2,074.93M 2,942.62M 1,778.20M 1,263.57M 2,021.55M 1,652.49M 1,621.46M 1,384.01M 1,117.29M 1,205.79M 1,283.95M 956.35M 1,069.89M 962.71M 1,518.60M 1,267.99M 990.16M 571.82M 825.24M 603.54M 485.09M 664.81M 567.51M 269.54M 470.04M 451.53M 459.66M
Capital Expenditure -367.32M -342.99M -377.17M -354.83M -374.39M -315.46M -303.85M -355.51M -326.79M -277.00M -282.11M -282.30M -273.44M -241.88M -224.68M -181.32M -156.93M -150.95M -156.66M -97.53M -77.23M -63.97M -122.62M -155.74M -135.13M -113.99M -304.44M -95.77M -96.07M -88.25M -58.54M
Free Cash Flow 1,442.57M 1,307.86M 1,840.93M 1,982.27M 1,684.84M 2,610.30M 1,466.33M 999.62M 1,734.84M 1,396.40M 1,336.90M 1,102.52M 841.64M 967.77M 1,061.79M 813.44M 592.92M 698.88M 1,213.75M 1,002.24M 779.69M 442.49M 659.56M 384.28M 361.13M 454.63M 40.40M 185.67M 404.70M 298.43M 335.17M

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 2,978.06M 2,786.61M 2,843.85M 2,707.90M 2,805.82M 2,325.71M 2,188.43M 2,129.74M 2,434.20M 2,306.90M 2,409.52M 2,257.69M 1,749.06M 1,665.84M 1,899.59M 1,926.69M 2,436.54M 1,294.03M 1,961.05M 1,756.54M 1,521.64M 688.45M 766.70M 548.66M 460.24M 561.92M 370.24M 310.35M 326.27M 284.18M 251.48M
(-) Tax Adjustment 726.27M 784.83M 421.61M 709.03M 597.87M 641.83M 450.22M 793.13M 768.31M 1,055.11M 1,059.75M 929.97M 555.72M 536.52M 638.43M 644.09M 826.98M 286.71M 714.17M 641.96M 531.06M 230.45M 264.21M 254.34M 320.19M 330.05M 147.38M 157.75M 542.59M 117.53M 121.08M
(-) Change In Working Capital 307.01M 30.52M 5.38M 285.00M 379.86M 1,077.07M 183.63M -213.64M 292.35M 235.01M 277.05M 221.50M -90.54M 122.02M 55.74M -54.97M 13.50M -14.10M 95.49M 315.74M 164.81M 23.23M 156.41M 337.97M -126.75M 233.02M 220.96M 231.96M 372.77M -116.89M 470.12M
(-) Capital Expenditure 367.32M 342.99M 377.17M 354.83M 374.39M 315.46M 303.85M 355.51M 326.79M 277.00M 282.11M 282.30M 273.44M 241.88M 224.68M 181.32M 156.93M 150.95M 156.66M 97.53M 77.23M 63.97M 122.62M 155.74M 135.13M 113.99M 304.44M 95.77M 96.07M 88.25M 58.54M
Unlevered Free Cash Flow 1,577.46M 1,628.27M 2,039.68M 1,359.04M 1,453.69M 291.34M 1,250.73M 1,194.74M 1,046.74M 739.79M 790.62M 823.93M 1,010.44M 765.42M 980.73M 1,156.26M 1,439.13M 870.48M 994.74M 701.31M 748.54M 370.81M 223.46M -199.40M 131.67M -115.14M -302.53M -175.14M -685.16M 195.28M -398.25M
(-) Net Interest Income After Taxes -335.23M -238.47M -244.15M -174.78M -182.14M -155.56M -159.64M -140.18M -178.50M -136.88M -114.30M -111.60M -125.75M -102.85M -99.61M -95.45M -98.00M -106.50M -62.80M -56.77M -35.46M -21.45M -17.90M -12.20M -5.24M -0.28M -0.47M -0.29M 0.78M -0.11M -0.20M
Net Debt Issuance 281.45M 315.55M 100.76M 4.58M 173.37M 53.22M 27.63M 971.20M 207.79M 4.18M 213.64M 120.37M 37.44M 266.27M 94.94M 28.11M -168.70M 181.84M 953.53M 303.69M 555.01M 530.90M 13.11M 87.53M 84.12M 13.10M -56.41M 90.25M 261.20M -9.30M 51.54M
Levered Free Cash Flow 2,194.13M 2,182.29M 2,384.59M 1,538.41M 1,809.20M 500.12M 1,438.00M 2,306.11M 1,433.03M 880.85M 1,118.56M 1,055.90M 1,173.63M 1,134.53M 1,175.28M 1,279.82M 1,368.43M 1,158.82M 2,011.06M 1,061.77M 1,339.01M 923.16M 254.47M -99.67M 221.03M -101.76M -358.48M -84.60M -424.74M 186.09M -346.50M