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Definitive Analysis

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Page: Industry Financials

TQM-R.BK

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 93.13 28.66 21.80 20.88 36.51 41.80 38.38 39.50 25.34 19.65 17.08 18.43 23.42 21.17 13.86 20.36 11.28 13.82 21.38 20.92 21.75 21.76 23.82 20.41 25.21 23.00 22.67 17.21 16.45 14.85 14.12
Market Capitalization 13,611.57M 2,071.32M 1,736.72M 2,997.93M 1,801.87M 1,632.74M 2,173.92M 2,050.06M 1,650.94M 1,691.46M 1,397.73M 1,387.81M 1,380.38M 1,420.93M 1,302.06M 1,485.64M 1,094.05M 1,415.80M 3,895.44M 4,220.74M 4,336.16M 3,578.50M 3,378.62M 2,600.07M 3,822.23M 4,146.36M 4,297.28M 3,902.62M 4,017.70M 3,143.46M 3,010.00M
(-) Cash & Equivalents 454.15M 200.51M 187.15M 158.21M 131.05M 114.19M 95.23M 76.79M 65.88M 132.24M 125.20M 124.24M 93.37M 120.56M 104.51M 159.22M 96.26M 88.47M 192.73M 137.77M 182.74M 232.80M 207.41M 184.72M 159.18M 100.00M 142.95M 194.33M 150.82M 111.56M 77.12M
(+) Total Debt 386.88M 259.93M 414.58M 217.02M 202.75M 138.76M 86.99M 55.52M 60.98M 233.19M 257.92M 261.00M 119.37M 106.93M 79.95M 163.95M 180.03M 191.78M 594.79M 658.95M 608.81M 685.80M 669.25M 567.69M 594.25M 720.64M 651.32M 486.60M 426.55M 234.90M 294.27M
Enterprise Value 14,634,113,541.54 2,090,380,810.97 1,686,465,103.68 3,038,426,050.05 1,778,406,943.47 1,627,319,042.05 2,232,481,680.08 2,010,568,110.70 1,620,213,609.12 1,793,071,733.43 1,431,231,923.63 1,482,783,873.04 1,414,794,075.44 1,519,965,131.02 1,389,903,951.63 1,424,203,221.79 1,143,473,283.33 1,476,696,333.49 4,312,737,569.00 4,752,730,714.98 4,763,010,534.17 4,036,699,648.78 3,840,794,739.06 2,978,875,767.84 4,257,300,973.73 4,472,108,265.50 4,655,054,522.20 4,133,497,467.99 4,095,376,433.92 3,273,537,276.57 3,223,707,185.15

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 1,743.05M 676.19M 543.52M 470.79M 504.89M 395.79M 377.58M 546.33M 476.16M 548.44M 537.90M 1,146.36M 899.10M 1,292.74M 733.02M 1,466.28M 1,524.62M 1,153.60M 2,287.87M 2,340.29M 2,265.06M 3,528.85M 3,407.14M 2,648.73M 2,582.95M 2,856.45M 2,728.54M 2,376.39M 2,020.57M 1,532.97M 1,642.44M
Cost of Revenue 909.79M 358.55M 332.51M 303.01M 256.09M 226.19M 222.03M 282.65M 264.38M 361.86M 332.61M 744.59M 582.09M 889.55M 451.80M 1,110.27M 218.74M 125.33M 231.95M 360.14M 403.05M 367.00M 376.64M 303.25M 269.78M 283.71M 264.36M 246.42M 252.13M 227.86M 238.77M
Gross Profit 833.25M 317.63M 211.01M 167.78M 248.80M 169.60M 155.55M 263.68M 211.78M 186.58M 205.29M 401.77M 317.01M 403.19M 281.22M 356.01M 1,305.88M 1,028.26M 2,055.92M 1,980.15M 1,862.01M 3,161.85M 3,030.50M 2,345.48M 2,313.17M 2,572.74M 2,464.18M 2,129.96M 1,768.44M 1,305.11M 1,403.67M
Gross Margin 47.8% 47.0% 38.8% 35.6% 49.3% 42.9% 41.2% 48.3% 44.5% 34.0% 38.2% 35.0% 35.3% 31.2% 38.4% 24.3% 85.7% 89.1% 89.9% 84.6% 82.2% 89.6% 88.9% 88.6% 89.6% 90.1% 90.3% 89.6% 87.5% 85.1% 85.5%
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 127.83M 100.64M 67.73M 67.99M 60.21M 31.37M 42.29M 32.67M 41.15M 46.08M 57.80M 30.32M 29.28M 59.17M 69.86M 111.86M 293.51M 428.75M 1,681.15M 1,790.92M 1,726.95M 1,934.09M 2,203.15M 1,992.33M 172.61M 159.45M 142.66M 121.85M 76.69M 97.73M 105.81M
Operating Expenses 127.83M 100.64M 67.73M 67.99M 60.21M 31.37M 42.29M 32.67M 41.15M 46.08M 57.80M 30.32M 29.28M 59.17M 69.86M 111.86M 293.51M 428.75M 1,681.15M 1,790.92M 1,726.95M 1,934.09M 2,203.15M 1,992.33M 172.61M 159.45M 142.66M 121.85M 76.69M 97.73M 105.81M
Operating Income 705.42M 216.99M 143.27M 99.79M 188.59M 138.22M 113.26M 231.01M 170.63M 140.51M 147.49M 371.44M 287.73M 344.02M 211.36M 244.15M 1,012.36M 599.51M 374.77M 189.24M 135.06M 1,227.76M 827.35M 353.15M 2,140.56M 2,413.30M 2,321.52M 2,008.11M 1,691.75M 1,207.38M 1,297.86M
Operating Margin 40.5% 32.1% 26.4% 21.2% 37.4% 34.9% 30.0% 42.3% 35.8% 25.6% 27.4% 32.4% 32.0% 26.6% 28.8% 16.7% 66.4% 52.0% 16.4% 8.1% 6.0% 34.8% 24.3% 13.3% 82.9% 84.5% 85.1% 84.5% 83.7% 78.8% 79.0%
Interest Income 0.88M 3.04M 4.23M 2.68M 1.07M 0.85M 0.43M 0.88M 1.15M 1.35M 1.09M 0.69M 1.27M 1.56M 0.92M 0.74M 0.26M 1.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Expense 47.52M 10.82M 31.51M 19.32M 9.24M 7.21M 3.92M 2.38M 1.84M 2.59M 2.30M 1.73M 1.94M 4.29M 5.45M 10.76M 10.04M 11.26M 4.85M 3.87M 3.79M 0.88M 0.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Interest Income -46.65M -7.78M -27.29M -16.63M -8.17M -6.35M -3.50M -1.50M -0.68M -1.25M -1.21M -1.04M -0.67M -2.73M -4.54M -10.01M -9.79M -10.22M -4.85M -3.87M -3.79M -0.88M -0.91M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Income / Expense -351.27M -133.98M -61.29M -39.74M -114.14M -69.33M -50.19M -135.56M -89.01M -41.28M -61.62M -283.92M -197.44M -249.40M -111.79M -5.41M -822.23M -486.95M -106.13M 83.85M 72.71M -1,019.03M -410.06M -33.80M -1,988.84M -2,057.00M -2,038.82M -1,637.99M -1,466.58M -1,008.69M -1,064.09M
Pre-Tax Income 307.51M 75.23M 54.70M 43.41M 66.28M 62.53M 59.57M 93.95M 80.94M 97.98M 84.66M 86.48M 89.62M 91.90M 95.04M 228.73M 180.35M 102.35M 263.79M 269.22M 203.99M 207.84M 416.39M 319.34M 151.72M 356.30M 282.69M 370.12M 225.17M 198.69M 233.77M
Pre-Tax Margin 17.6% 11.1% 10.1% 9.2% 13.1% 15.8% 15.8% 17.2% 17.0% 17.9% 15.7% 7.5% 10.0% 7.1% 13.0% 15.6% 11.8% 8.9% 11.5% 11.5% 9.0% 5.9% 12.2% 12.1% 5.9% 12.5% 10.4% 15.6% 11.1% 13.0% 14.2%
Income Tax Expense 69.82M 23.00M 19.94M 14.75M 13.68M 10.07M 9.59M 11.93M 11.19M 27.23M 9.71M 22.76M 23.36M 42.02M 30.24M 63.31M 31.75M 38.08M 89.34M 82.33M 67.60M 92.75M 151.07M 118.75M 64.06M 135.10M 105.53M 136.60M 87.55M 68.82M 80.24M
Tax Rate 22.7% 30.6% 35.0% 34.0% 20.6% 16.1% 16.1% 12.7% 13.8% 27.8% 11.5% 26.3% 26.1% 35.0% 31.8% 27.7% 17.6% 35.0% 33.9% 30.6% 33.1% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 35.0% 34.6% 34.3%
Net Income 237.68M 52.24M 34.75M 28.67M 52.60M 52.46M 49.98M 82.02M 69.75M 70.75M 74.95M 63.72M 66.26M 49.88M 64.80M 165.42M 148.60M 64.26M 174.45M 186.89M 136.39M 115.09M 265.31M 200.60M 87.66M 221.20M 177.17M 233.52M 137.62M 129.87M 153.53M
Net Margin 13.6% 7.7% 6.4% 6.1% 10.4% 13.3% 13.2% 15.0% 14.6% 12.9% 13.9% 5.6% 7.4% 3.9% 8.8% 11.3% 9.7% 5.6% 7.6% 8.0% 6.0% 3.3% 7.8% 7.6% 3.4% 7.7% 6.5% 9.8% 6.8% 8.5% 9.3%
EBIT 705.42M 216.99M 143.27M 99.79M 188.59M 138.22M 113.26M 231.01M 170.63M 140.51M 147.49M 371.44M 287.73M 344.02M 211.36M 244.15M 1,012.36M 599.51M 374.77M 189.24M 135.06M 1,227.76M 827.35M 353.15M 2,140.56M 2,413.30M 2,321.52M 2,008.11M 1,691.75M 1,207.38M 1,297.86M
Depreciation & Amortization 73.94M 33.69M 32.11M 28.82M 19.04M 14.77M 11.12M 13.53M 11.58M 26.28M 27.17M 25.52M 22.89M 37.48M 20.45M 31.15M 31.31M 33.30M 68.01M 84.12M 91.24M 111.93M 105.79M 88.31M 109.22M 121.56M 119.21M 84.66M 63.18M 45.37M 51.75M
EBITDA 779.37M 250.68M 175.38M 128.61M 207.63M 152.99M 124.38M 244.54M 182.22M 166.79M 174.66M 396.97M 310.62M 381.50M 231.81M 275.30M 1,043.67M 632.81M 442.78M 273.36M 226.30M 1,339.69M 933.15M 441.46M 2,249.78M 2,534.86M 2,440.73M 2,092.77M 1,754.93M 1,252.75M 1,349.60M
EBITDA Margin 44.7% 37.1% 32.3% 27.3% 41.1% 38.7% 32.9% 44.8% 38.3% 30.4% 32.5% 34.6% 34.5% 29.5% 31.6% 18.8% 68.5% 54.9% 19.4% 11.7% 10.0% 38.0% 27.4% 16.7% 87.1% 88.7% 89.5% 88.1% 86.9% 81.7% 82.2%
NOPAT 545.25M 150.67M 93.13M 65.89M 149.66M 115.96M 95.02M 201.67M 147.04M 101.45M 130.57M 273.68M 212.74M 223.62M 144.11M 176.57M 834.12M 389.68M 247.84M 131.37M 90.31M 798.04M 537.78M 229.55M 1,391.36M 1,568.64M 1,508.99M 1,305.27M 1,099.64M 789.16M 852.38M
NOPAT Margin 31.3% 22.3% 17.1% 14.0% 29.6% 29.3% 25.2% 36.9% 30.9% 18.5% 24.3% 23.9% 23.7% 17.3% 19.7% 12.0% 54.7% 33.8% 10.8% 5.6% 4.0% 22.6% 15.8% 8.7% 53.9% 54.9% 55.3% 54.9% 54.4% 51.5% 51.9%
Owner's Earnings 311.63M 85.93M 66.86M 57.49M 71.63M 67.23M 61.11M 95.55M 81.33M 97.03M 102.12M 89.24M 89.15M 87.36M 85.25M 196.57M 179.91M 97.56M 242.45M 271.01M 227.63M 227.02M 371.11M 288.91M 196.87M 342.76M 296.38M 318.18M 200.80M 175.24M 205.27M
Owner's Earnings Margin 17.9% 12.7% 12.3% 12.2% 14.2% 17.0% 16.2% 17.5% 17.1% 17.7% 19.0% 7.8% 9.9% 6.8% 11.6% 13.4% 11.8% 8.5% 10.6% 11.6% 10.0% 6.4% 10.9% 10.9% 7.6% 12.0% 10.9% 13.4% 9.9% 11.4% 12.5%
EPS 1.76 0.41 0.28 0.20 0.43 0.43 0.40 0.69 0.62 0.56 0.64 0.56 0.62 0.44 0.53 1.44 1.21 0.47 1.34 1.29 0.76 0.70 1.67 1.33 0.60 0.97 0.96 1.09 0.77 0.62 0.69
EPS (Diluted) 1.76 0.41 0.28 0.20 0.43 0.43 0.40 0.69 0.62 0.56 0.64 0.56 0.62 0.44 0.53 1.44 1.21 0.47 1.34 1.29 0.76 0.70 1.67 1.33 0.60 0.97 0.96 1.09 0.77 0.62 0.69
Shares (Diluted) 135.33M 128.15M 122.08M 139.96M 123.36M 123.04M 125.22M 119.36M 112.52M 126.03M 117.43M 114.38M 106.14M 112.66M 122.60M 114.74M 123.24M 137.37M 129.76M 145.32M 178.49M 164.58M 158.80M 151.28M 144.99M 228.19M 184.75M 214.74M 179.41M 210.69M 223.89M

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 462.71M 200.51M 187.15M 155.00M 128.42M 123.60M 95.12M 76.79M 65.88M 132.24M 125.20M 124.24M 93.37M 120.56M 104.51M 159.22M 96.26M 88.47M 192.73M 137.77M 182.74M 232.80M 207.41M 184.72M 159.18M 100.00M 142.95M 194.33M 150.82M 111.56M 77.12M
Short-Term Investments 39.86M 26.10M 13.03M 33.68M 24.22M 20.47M 13.41M 44.77M 19.74M 10.23M 11.74M 15.33M 8.97M 80.51M 14.37M 11.30M 153.28M 153.73M 387.69M 518.08M 467.40M 332.47M 206.73M 166.98M 137.76M 181.84M 142.69M 104.97M 94.15M 88.28M 64.24M
Cash & Short-Term Investments 502.57M 226.61M 200.18M 188.69M 152.64M 144.08M 108.52M 121.56M 85.63M 142.48M 136.94M 139.57M 102.34M 201.06M 118.87M 170.52M 249.54M 242.19M 580.42M 655.85M 650.14M 565.27M 414.14M 351.71M 296.94M 281.84M 285.64M 299.30M 244.97M 199.84M 141.36M
Net Receivables 1,148.39M 280.02M 229.44M 201.59M 165.98M 144.23M 86.44M 137.02M 134.48M 166.55M 146.50M 129.95M 342.22M 322.75M 87.67M 364.31M 379.82M 493.50M 790.08M 982.48M 974.35M 1,114.15M 1,045.84M 948.99M 879.81M 1,009.21M 851.23M 726.89M 465.96M 463.60M 447.23M
Inventory 0.00M 0.00M 0.00M 0.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.10M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 3.65M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Assets 224.19M 85.61M 57.69M 38.99M 27.37M 19.00M 18.30M 12.20M 31.26M 48.76M 110.97M 140.06M 77.97M 268.72M 47.39M 96.28M 116.42M 116.46M 228.78M 346.86M 144.97M 181.34M 116.03M 120.63M 139.37M 179.19M 146.70M 176.95M 189.66M 141.14M 59.56M
Total Current Assets 1,875.15M 592.24M 487.30M 429.29M 346.00M 307.31M 213.26M 270.78M 251.36M 357.80M 394.41M 409.58M 522.53M 792.63M 253.94M 631.11M 745.78M 852.15M 1,599.27M 1,985.19M 1,769.46M 1,860.76M 1,576.01M 1,421.33M 1,319.76M 1,470.24M 1,283.57M 1,203.13M 900.59M 804.59M 648.15M
Property, Plant & Equipment 204.24M 43.46M 42.12M 44.58M 46.74M 50.45M 37.94M 27.76M 22.59M 24.39M 25.96M 23.72M 22.96M 32.06M 21.72M 28.63M 32.04M 38.06M 140.39M 156.32M 174.13M 242.90M 291.44M 299.31M 25.25M 26.31M 27.86M 24.61M 168.08M 121.67M 133.78M
Goodwill 3,006.06M 368.80M 348.40M 338.72M 301.67M 199.82M 119.58M 132.96M 123.16M 580.57M 583.29M 549.31M 483.60M 458.87M 309.41M 368.56M 355.90M 359.12M 1,316.27M 1,323.73M 123.41M 90.21M 59.44M 44.07M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 516.79M 245.08M 127.44M 161.45M 243.21M 164.01M 65.16M 179.19M 143.74M 182.07M 170.15M 137.34M 118.11M 142.96M 112.38M 125.07M 123.56M 154.46M 103.14M 84.84M 162.15M 165.38M 126.10M 120.66M 207.78M 192.69M 194.94M 1,196.52M 706.60M 172.02M 261.15M
Long-Term Investments 13.96M 62.26M 32.66M 23.90M 22.40M 26.55M 20.27M 49.03M 24.99M 36.22M 21.45M 41.21M 40.82M 49.45M 10.40M 61.15M 107.89M 117.28M 101.97M 373.76M 353.39M 342.77M 310.37M 261.51M 221.11M 242.80M 223.43M 201.93M 161.18M 138.19M 2.82M
Tax Assets 2.52M 6.12M 2.26M 4.65M 4.52M 6.47M 6.38M 29.82M 6.24M 24.41M 24.72M 31.98M 14.65M 21.23M 38.53M 63.92M 74.02M 19.07M 62.59M 65.87M 56.71M 50.22M 38.01M 29.80M 25.01M 0.19M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 423.19M 116.89M 182.79M 149.81M 157.36M 33.48M 72.12M 15.80M 10.79M 6.03M 34.99M 58.25M 35.73M 37.45M 9.26M 307.27M 40.31M 142.20M 247.06M 266.50M 839.88M 1,013.11M 1,019.18M 901.23M 786.01M 998.51M 876.47M 766.18M 600.87M 452.32M 409.46M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.02M 0.01M 0.56M 0.00M 0.00M 0.00M 2.37M 2.57M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -8.11M -2.09M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 4,166.76M 842.61M 735.67M 723.10M 775.89M 480.78M 321.45M 434.58M 331.52M 854.25M 860.55M 841.80M 715.86M 744.39M 504.28M 954.61M 733.71M 830.19M 1,971.41M 2,271.01M 1,709.67M 1,904.59M 1,844.54M 1,656.57M 1,265.16M 1,452.38M 1,320.60M 2,189.24M 1,636.73M 884.20M 807.21M
Total Assets 6,041.91M 1,434.85M 1,222.97M 1,152.39M 1,121.89M 788.09M 534.71M 705.36M 582.88M 1,212.04M 1,254.96M 1,251.39M 1,238.39M 1,537.02M 758.21M 1,585.72M 1,479.49M 1,682.34M 3,570.69M 4,256.21M 3,479.14M 3,765.34M 3,420.55M 3,077.90M 2,584.92M 2,922.62M 2,604.18M 3,392.37M 2,537.32M 1,688.79M 1,455.36M
Accounts Payable 100.71M 59.04M 56.41M 98.56M 78.34M 55.98M 31.05M 31.06M 47.54M 67.86M 71.84M 45.64M 46.79M 100.11M 91.23M 16.18M 20.66M 384.53M 511.90M 781.22M 397.49M 497.73M 388.19M 37.85M 39.22M 41.52M 526.79M 403.22M 369.62M 157.66M 187.77M
Short-Term Debt 26.42M 17.68M 57.17M 14.43M 16.11M 17.72M 9.14M 12.57M 6.94M 12.35M 6.38M 3.71M 9.72M 3.76M 0.83M 2.64M 3.36M 35.61M 56.34M 82.60M 18.01M 17.57M 27.52M 47.67M 82.65M 103.29M 107.81M 174.19M 71.41M 74.73M 97.59M
Tax Payables 0.00M 1.73M 1.19M 0.90M 1.57M 0.82M 1.15M 0.90M 0.66M 0.92M 1.51M 0.68M 0.86M 1.45M 1.63M 0.83M 0.00M 0.00M 27.54M 66.32M 74.14M 48.33M 46.39M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 0.18M 10.54M 12.40M 11.31M 10.63M 5.04M 4.38M 2.73M 2.69M 7.17M 5.89M 4.82M 3.44M 1.95M 2.21M 6.37M 0.10M 0.61M 17.33M 8.83M 9.80M 10.90M 4.79M 4.63M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 1,547.50M 131.43M 52.05M 46.38M 34.11M 39.69M 28.30M 41.01M 13.17M 36.45M 63.92M 41.54M 45.86M 258.70M 31.31M 243.14M 127.45M 267.19M 366.12M 485.36M 150.49M -23.29M 33.30M 383.37M 259.04M 204.98M 182.42M 154.02M 133.76M 119.16M 115.26M
Total Current Liabilities 1,674.82M 220.42M 179.23M 171.59M 140.76M 119.25M 74.02M 88.27M 71.00M 124.76M 149.54M 96.38M 106.67M 365.96M 127.20M 269.16M 151.57M 687.94M 979.21M 1,424.32M 649.92M 551.25M 500.19M 473.52M 380.91M 349.79M 817.03M 731.43M 574.79M 351.55M 400.62M
Long-Term Debt 509.13M 227.41M 351.27M 354.15M 259.86M 132.41M 69.65M 51.32M 54.70M 220.60M 54.59M 250.32M 94.44M 187.27M 79.29M 152.02M 163.07M 153.79M 531.27M 576.35M 596.28M 673.11M 641.73M 58.60M 43.68M 609.97M 543.50M 312.41M 214.70M 131.73M 139.60M
Capital Lease Obligations 31.89M 28.46M 29.66M 30.75M 26.22M 25.43M 10.21M 0.03M 0.02M 0.03M 0.09M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 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 8.13M 8.12M 6.56M 5.93M 4.05M 2.45M 1.92M 2.21M 1.33M 1.93M 9.54M 4.44M 4.93M 3.65M 4.11M 45.81M 29.39M 1.98M 15.17M 1.39M 1.45M 1.52M 4.44M 0.92M 0.90M 1.56M 2.47M 3.16M 2.81M 4.95M 7.48M
Other Non-Current Liabilities 533.39M 351.61M 130.36M 65.56M 96.73M 68.85M 51.69M 98.23M 28.48M 32.05M 380.51M 335.79M 160.91M 133.15M 136.81M 529.51M 390.89M 103.03M 329.21M 493.73M 60.28M 54.00M 33.35M 37.16M 14.37M 13.64M 12.25M 14.89M 12.33M 10.93M 9.92M
Total Non-Current Liabilities 1,082.54M 615.60M 517.85M 456.39M 386.86M 229.14M 133.47M 151.79M 84.53M 254.62M 444.73M 590.55M 260.28M 324.07M 220.21M 727.34M 583.34M 258.80M 875.66M 1,071.47M 658.02M 728.63M 679.52M 96.68M 58.95M 625.17M 558.22M 330.46M 229.84M 147.60M 157.01M
Total Liabilities 2,757.36M 836.02M 697.08M 627.98M 527.62M 348.39M 207.49M 240.06M 155.53M 379.38M 594.28M 686.93M 366.96M 690.04M 347.42M 996.50M 734.92M 946.73M 1,854.87M 2,495.79M 1,307.94M 1,279.88M 1,179.71M 570.20M 439.86M 974.96M 1,375.25M 1,061.88M 804.63M 499.15M 557.63M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.16M 0.56M 1.05M 53.61M 0.01M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 14.68M 14.68M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 10.95M 9.46M 13.64M 13.56M 12.98M 10.01M 10.16M 18.38M 16.55M 22.32M 19.33M 18.88M 17.67M 17.12M 32.37M 43.23M 40.50M 41.51M 110.03M 118.72M 107.63M 118.77M 117.60M 116.02M 87.77M 98.74M 90.06M 0.81M 0.74M 0.74M 0.87M
Retained Earnings 142.27M 30.96M 92.60M 116.12M 136.09M 167.54M 164.67M 368.62M 267.16M 490.27M 477.36M 436.96M 434.97M 540.47M 407.28M 598.23M 606.84M 641.41M 1,669.06M 1,625.33M 1,433.08M 1,528.30M 1,373.02M 1,203.22M 1,113.55M 1,161.67M 950.16M 847.01M 700.93M 662.12M 682.99M
Accumulated OCI -49.49M -23.03M -4.64M -7.93M -5.57M -5.91M -23.89M -0.88M -28.98M -25.73M -18.30M -29.10M -13.52M -34.54M -34.37M -47.95M -48.31M -59.14M -20.80M -268.77M -184.22M -106.11M -84.09M -124.42M -62.28M -48.47M -24.98M -65.23M -33.45M -30.26M -83.52M
Minority Interest 35.06M 29.22M 24.73M 27.83M 22.41M 12.78M 12.21M 11.35M 6.24M 5.37M 3.83M 15.39M 2.21M 7.67M 1.25M 11.29M 9.14M 0.00M 0.06M 0.00M 0.00M 0.00M 0.00M 0.46M 0.59M 0.47M 0.00M 0.00M 7.63M 0.00M 0.00M
Total Shareholders’ Equity 103.72M 17.39M 101.59M 121.75M 143.50M 171.64M 151.10M 386.68M 255.78M 540.47M 478.40M 426.73M 439.11M 523.05M 405.27M 593.51M 599.02M 623.78M 1,758.29M 1,475.28M 1,356.49M 1,540.96M 1,421.22M 1,209.50M 1,139.04M 1,211.94M 1,015.24M 782.59M 668.22M 632.60M 600.33M
Total Equity 138.78M 46.61M 126.32M 149.58M 165.92M 184.42M 163.31M 398.03M 262.01M 545.85M 482.23M 442.12M 441.32M 530.72M 406.53M 604.80M 608.16M 623.78M 1,758.35M 1,475.28M 1,356.49M 1,540.96M 1,421.22M 1,209.97M 1,139.62M 1,212.41M 1,015.24M 782.59M 675.85M 632.60M 600.33M
Total Liabilities & Equity 2,896.13M 882.62M 823.40M 777.56M 693.53M 532.81M 370.81M 638.08M 417.54M 925.22M 1,076.51M 1,129.05M 808.27M 1,220.76M 753.94M 1,601.30M 1,343.08M 1,570.51M 3,613.22M 3,971.07M 2,664.42M 2,820.84M 2,600.93M 1,780.17M 1,579.48M 2,187.38M 2,390.49M 1,844.47M 1,480.48M 1,131.76M 1,157.96M
Tangible Assets 2,519.06M 820.97M 747.13M 652.23M 577.02M 424.26M 349.97M 393.21M 315.99M 449.41M 501.52M 564.73M 636.69M 935.19M 336.42M 1,092.09M 1,000.03M 1,168.77M 2,151.28M 2,847.63M 3,193.57M 3,509.75M 3,235.01M 2,913.18M 2,377.14M 2,729.93M 2,409.24M 2,195.85M 1,830.72M 1,516.77M 1,194.21M
Tangible Equity -3,384.07M -567.27M -349.52M -350.58M -378.96M -179.41M -21.42M 85.88M -4.88M -216.79M -271.21M -244.53M -160.38M -71.11M -15.27M 111.17M 128.70M 110.20M 338.94M 66.71M 1,070.92M 1,285.37M 1,235.67M 1,045.24M 931.85M 1,019.72M 820.30M -413.93M -30.75M 460.58M 339.18M
Tangible Book Value -3,384,071,587.15 -567,271,659.50 -349,520,700.05 -350,578,734.59 -378,962,833.53 -179,409,985.55 -21,421,991.40 85,879,446.53 -4,879,931.10 -216,790,463.52 -271,208,641.51 -244,529,762.52 -160,384,853.08 -71,110,583.98 -15,265,454.48 111,166,746.77 128,703,452.20 110,200,933.64 338,938,586.74 66,705,377.50 1,070,919,018.78 1,285,366,610.00 1,235,674,235.00 1,045,243,245.00 931,847,640.00 1,019,723,977.14 820,298,811.43 -413,927,291.43 -30,746,182.14 460,580,597.43 339,177,716.33
Total Investments 32.65M 155.63M 47.21M 50.98M 53.79M 45.01M 32.65M 60.95M 44.20M 72.49M 22.74M 62.83M 64.09M 65.34M 20.12M 243.10M 231.16M 237.49M 264.64M 381.17M 67.60M 8.06M 9.38M 4.78M 2.36M 2.46M 2.97M 6.44M 7.31M 3.85M 3.26M
Net Debt 72.84M 44.58M 221.29M 213.57M 147.54M 26.53M -16.33M -12.90M -4.24M 100.71M -64.24M 129.79M 10.80M 70.47M -24.38M -4.55M 70.17M 100.94M 394.88M 521.18M 431.55M 457.89M 461.84M -78.45M -32.86M 613.27M 508.36M 292.28M 135.29M 94.89M 160.07M

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 767.06M 214.30M 173.30M 101.22M 101.93M 78.00M 54.61M 177.97M 123.34M 160.88M 80.16M 110.54M 47.31M 549.36M 103.33M 196.61M 282.29M 252.91M 654.86M 362.31M 500.74M 394.13M 294.39M 242.56M 120.35M 176.17M -148.87M -337.78M 214.50M 177.04M 66.28M
Total Capital 3,159.64M 779.18M 739.37M 648.72M 605.03M 473.07M 390.23M 348.64M 316.65M 813.67M 810.18M 796.09M 666.17M 665.40M 492.77M 724.57M 722.06M 746.08M 2,416.44M 2,341.61M 2,148.75M 2,325.09M 2,313.21M 1,984.65M 1,842.59M 2,079.43M 1,874.39M 1,679.67M 1,503.49M 906.85M 984.63M
Capital Employed 6,881.74M 1,927.87M 1,243.10M 1,043.40M 898.75M 694.57M 443.37M 391.50M 378.17M 422.90M 999.62M 2,195.49M 1,659.08M 3,308.10M 1,311.72M 3,528.88M 3,504.19M 949.60M 3,509.82M 3,544.75M 3,690.29M 4,045.53M 3,314.48M 2,991.12M 2,588.07M 3,136.35M 2,700.99M 2,163.10M 1,752.44M 1,112.72M 1,191.56M
Invested Capital 2,696.93M 578.67M 552.23M 493.72M 476.61M 349.47M 295.11M 271.85M 250.76M 681.43M 684.98M 671.85M 572.80M 544.84M 388.27M 565.36M 625.81M 657.61M 2,223.72M 2,203.84M 1,966.01M 2,092.29M 2,105.80M 1,799.93M 1,683.41M 1,979.43M 1,731.44M 1,485.35M 1,352.66M 795.29M 907.51M

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 87.59M 38.47M 32.61M 28.68M 19.95M 15.71M 14.25M 13.52M 11.96M 26.71M 12.55M 27.63M 24.65M 38.87M 31.68M 37.39M 77.54M 82.74M 84.31M 73.80M 124.32M 111.93M 120.96M 100.80M 125.12M 121.12M 127.26M 78.42M 63.13M 44.58M 51.35M
Deferred Income Tax 1.56M 0.89M -1.23M -0.65M -0.23M 1.08M 1.07M -0.20M -1.62M 0.78M 0.08M 1.54M 3.82M 1.13M 8.78M 17.35M 18.47M 3.45M 2.01M 16.38M 3.14M -10.37M 2.69M 1.26M -19.07M -1.10M 0.20M -0.01M -2.57M -0.24M 1.29M
Stock-Based Compensation 21.99M 10.11M 15.47M 12.26M 6.48M 4.89M 4.02M 3.04M 2.57M 3.78M 3.02M 2.97M 3.56M 4.66M 4.56M 4.92M 5.09M 9.52M 1.61M 0.11M 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 17.03M -20.55M -0.97M -3.76M -5.36M -1.27M -25.96M -15.19M -14.38M -5.43M -6.93M -24.06M -47.36M -21.53M -7.55M -148.99M -40.50M -56.46M -20.97M -18.68M 35.00M 12.41M 16.58M -12.62M -15.02M 26.89M -20.92M -4.46M -99.44M -4.29M -35.43M
Accounts Receivable 17.27M -34.76M -12.62M -31.77M -22.47M -2.60M -7.83M -5.62M -6.29M -22.48M -14.71M -6.78M -9.88M -2.14M 0.31M -2.99M 7.51M 16.55M -44.16M -42.27M -36.92M -11.06M -94.84M -35.91M -43.99M -32.31M -24.37M -18.60M -7.95M -33.87M -68.23M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M -2.48M 0.00M 0.00M 0.00M 0.00M -0.03M 0.00M 0.02M -0.03M 0.00M 0.00M 0.01M 0.00M 0.00M 0.17M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 7.91M 1.75M 2.96M 2.75M 15.08M 9.98M 2.54M 4.98M 0.86M 3.93M -0.26M 0.36M 0.00M 0.87M 1.35M -0.13M 0.21M -22.73M -37.97M 0.38M 3.12M 15.90M 1.78M 0.00M 2.63M 2.31M 0.96M 2.67M -0.82M 3.32M 20.53M
Other Working Capital 10.95M 8.56M 2.43M 4.41M 5.60M -3.40M 0.08M -11.98M -1.55M -1.79M -0.10M -12.30M -4.35M -2.52M -7.32M -65.90M -32.94M -47.86M -55.85M -222.34M 48.85M -25.34M 72.83M -132.98M 6.08M 58.01M 19.06M 14.49M 4.96M 4.70M -3.92M
Other Non-Cash Items 3.51M -9.11M 10.94M 8.00M 8.31M 7.06M 6.32M 8.94M 1.39M 2.58M -5.27M 23.31M 0.59M 6.30M 10.48M -2.59M 28.89M 31.89M -2.48M -35.24M -28.42M -7.23M 2.41M 9.08M 15.51M -18.77M -13.54M 2.53M 92.79M 3.46M 0.25M
Net Cash from Operating Activities 399.38M 160.87M 102.26M 49.08M 56.54M 71.37M 91.86M 72.32M 57.38M 112.47M 92.54M 110.64M 121.53M 172.84M 118.79M 252.88M 166.71M 300.20M 133.89M 308.32M 198.46M 441.96M 535.99M 438.95M 255.40M 306.07M 205.07M 330.36M 163.49M 128.26M 146.38M
Capital Expenditures (PPE) -27.44M -13.59M -9.53M -11.49M -10.42M -13.40M -8.12M -10.15M -10.63M -10.23M -10.20M -11.15M -14.06M -18.32M -11.36M -18.24M -12.36M -38.67M -63.85M -55.66M -45.38M -32.02M -73.13M -104.70M -103.94M -65.95M -100.02M -109.55M -197.89M -29.76M -43.76M
Acquisitions (Net) -29.15M -4.61M -4.08M -28.50M -9.28M -9.08M -24.66M -12.94M -6.17M -5.55M -30.28M -89.71M -4.92M -42.39M -35.08M -27.48M -17.59M -73.40M -117.22M -18.42M -31.28M -65.60M -38.88M -57.71M -52.71M -31.92M -8.50M -8.46M -0.88M -0.80M -2.00M
Purchases of Investments -8.08M -5.33M -7.92M -5.18M -10.86M -17.00M -5.29M -0.25M -2.76M -6.25M -1.56M -4.80M 0.00M -2.27M -3.45M -104.33M -49.42M -88.81M -89.52M -99.09M -132.38M -124.97M -153.35M -129.47M -89.11M -18.88M -37.50M -72.27M -46.18M -62.71M -44.85M
Sales / Maturities of Investments 11.47M 4.36M 9.27M 21.50M 5.01M 6.12M 2.92M 0.27M 1.31M 0.64M 0.90M 0.22M 0.17M 2.37M 3.59M 31.68M 74.01M 91.80M 129.28M 144.67M 150.79M 97.87M 117.46M 91.51M 86.43M 7.03M 57.66M 41.52M 30.52M 31.15M 21.12M
Other Investing Activities -33.01M -2.30M -3.72M -6.53M -5.61M -0.41M -0.51M -1.75M -0.66M -0.66M -0.57M 1.15M -1.63M 0.36M -0.20M 3.71M -6.19M 21.13M 0.33M -0.39M 11.07M 0.61M 5.50M 0.43M -14.65M -3.25M -40.79M -16.39M 0.10M -1.15M -6.34M
Net Cash from Investing Activities -105.95M -55.80M -20.84M -77.50M -51.27M -74.25M -41.85M -19.92M -19.95M -35.51M -48.25M -104.93M -103.41M -60.05M -75.25M -65.12M -39.15M -71.23M -86.25M -93.85M -92.79M -338.78M -184.91M -138.78M -198.63M -71.45M -193.97M -207.71M -209.70M -10.61M -87.31M
Net Debt Issuance 13.53M 6.92M 4.58M 24.86M 14.59M 14.00M 17.31M 11.64M 2.82M 4.23M 20.92M 2.01M 3.19M -2.36M -0.26M 0.04M -5.53M -58.32M 17.57M 20.86M -1.35M 41.31M -35.74M -4.63M 18.92M 6.83M -0.01M 17.44M 142.01M -1.86M 45.18M
Long-Term Debt Issuance 12.44M 6.76M 4.55M 22.48M 9.17M 14.61M 17.73M 6.92M 2.82M 4.26M 5.27M 0.67M 5.66M -0.26M -0.26M 0.04M -3.24M -58.05M -40.25M 14.41M -5.01M 41.38M -35.74M -4.63M 97.59M 6.83M -0.01M 3.08M 0.93M -1.86M 2.59M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.02M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -2.61M 0.00M 0.00M 0.04M -15.63M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -49.32M -0.16M -0.86M 6.19M 4.81M 26.07M -0.07M -1.07M -2.17M -7.45M -0.47M -15.28M -8.89M -15.77M -8.29M -14.59M -5.92M 17.65M -204.57M -37.00M 4.23M -15.52M -18.86M 38.55M -23.52M -15.54M -17.91M -10.23M 56.53M -15.82M -21.12M
Common Stock Issuance 6.32M 6.70M 0.73M 13.21M 11.97M 33.80M 13.74M 9.45M 2.13M 5.62M 3.77M 2.29M 0.97M 3.40M 16.25M 15.82M 8.86M 19.55M 14.65M 31.42M 27.55M 12.75M 2.58M 165.63M 21.57M 8.83M 5.36M 5.62M 10.21M 6.93M 28.90M
Common Stock Repurchased -49.35M -1.71M -0.90M -0.73M -2.99M -4.43M -9.68M -2.94M -7.06M -7.62M -7.42M -15.36M -7.56M -17.59M -9.98M -20.96M -7.63M -23.79M -218.58M -60.84M -24.57M -22.33M -26.57M -40.31M -32.84M -30.47M -23.50M -14.42M -15.29M -13.26M -49.98M
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 -80.67M -32.64M -24.43M -21.01M -28.15M -31.05M -23.52M -20.46M -24.22M -41.14M -37.49M -36.13M -50.46M -66.64M -31.63M -50.48M -53.15M -73.72M -82.29M -85.32M -84.10M -77.83M -85.30M -98.30M -99.68M -92.13M -84.56M -77.70M -72.05M -67.88M -78.12M
Common Dividends Paid -78.63M -32.64M -24.23M -21.01M -28.15M -31.55M -23.53M -20.62M -24.34M -41.17M -37.56M -35.96M -49.11M -66.64M -31.61M -50.46M -48.86M -69.33M -77.90M -81.65M -84.10M -75.33M -85.30M -94.47M -96.29M -89.52M -82.77M -76.13M -70.69M -66.63M -78.12M
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 26.65M -7.82M -4.71M 5.68M -1.77M 0.11M -0.07M 0.14M 0.70M 0.30M -0.75M 2.11M 2.70M -0.10M 0.23M 3.42M 0.55M -8.79M 1.27M -0.68M 0.00M 0.00M -0.57M -2.04M -3.85M -4.08M -0.34M 0.46M 0.00M 0.57M 0.12M
Net Cash from Financing Activities -37.47M -9.47M -21.63M 41.77M 11.38M 34.05M 25.78M 4.29M -20.81M -33.92M -20.14M -10.67M -29.89M -67.01M -18.96M -25.69M -56.51M -147.83M -218.61M -236.53M -59.67M -2.03M -265.09M -219.08M -181.38M -130.88M -35.99M -18.97M 101.13M -109.51M -45.37M
Effect of FX on Cash 9.53M -0.14M 0.13M -0.12M -0.02M 0.02M 0.07M -0.04M 0.28M -1.18M -1.03M -0.06M -0.10M 0.59M -0.01M 0.01M 4.09M -34.86M 16.72M 0.24M -2.11M 7.10M 7.30M 2.14M -0.79M -2.82M -0.97M -1.12M -10.80M -8.37M -0.79M
Net Change in Cash 84.27M 43.74M 16.93M 14.36M 30.88M 59.54M 22.39M 1.50M 8.52M 8.11M 2.89M 5.95M 3.45M 14.68M 4.09M 54.15M 25.63M -3.81M 7.82M -8.88M -0.02M 41.49M 24.44M 26.01M -1.07M 9.99M -6.89M -18.38M 42.34M -17.52M -8.71M
Cash at Beginning of Period 357.08M 217.66M 171.42M 137.57M 126.17M 98.28M 76.62M 63.41M 62.44M 127.33M 93.18M 61.90M 102.28M 109.98M 138.28M 126.57M 209.81M 221.47M 153.61M 204.20M 232.80M 203.58M 208.65M 188.65M 105.99M 146.08M 197.73M 158.18M 111.88M 69.66M 127.35M
Cash at End of Period 2,043.26M 257.97M 204.16M 171.42M 138.12M 130.43M 102.61M 76.62M 67.91M 137.64M 132.22M 97.46M 94.70M 127.22M 112.38M 189.35M 132.87M 214.08M 232.50M 153.61M 204.52M 232.80M 241.29M 208.64M 188.48M 100.00M 142.95M 196.23M 154.40M 102.26M 67.16M
Operating Cash Flow 403.27M 161.01M 102.24M 49.08M 55.61M 70.59M 91.86M 67.39M 57.41M 112.48M 94.40M 110.64M 121.53M 172.81M 118.55M 252.88M 166.71M 277.31M 133.89M 308.32M 198.46M 441.96M 535.99M 438.95M 255.40M 306.75M 205.16M 330.36M 163.49M 128.26M 146.38M
Capital Expenditure -32.27M -16.46M -13.65M -13.62M -11.52M -14.36M -8.54M -10.15M -10.63M -10.23M -10.30M -11.25M -14.08M -18.32M -11.36M -18.24M -12.36M -38.67M -63.85M -55.66M -45.38M -32.02M -73.13M -104.70M -103.94M -65.95M -100.02M -109.55M -197.89M -29.76M -43.76M
Free Cash Flow 374.69M 127.80M 83.76M 38.92M 50.39M 59.37M 68.53M 52.55M 46.55M 104.73M 60.47M 92.54M 110.01M 152.55M 109.01M 171.89M 123.23M 179.17M 116.18M 220.17M 132.29M 408.63M 464.47M 307.40M 152.20M 241.50M 105.41M 184.55M -45.99M 79.00M 95.50M

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 425.52M 130.78M 93.64M 73.09M 84.75M 78.89M 71.17M 97.99M 82.81M 148.76M 138.34M 168.55M 155.00M 167.28M 130.67M 305.56M 200.37M 137.85M 372.99M 381.00M 334.22M 394.02M 544.40M 754.55M 646.69M 848.26M 437.56M 523.73M 379.25M 295.98M 331.66M
(-) Tax Adjustment 96.62M 39.97M 34.14M 24.83M 17.50M 12.71M 11.46M 12.44M 11.45M 41.35M 15.87M 44.36M 40.40M 76.48M 41.58M 84.58M 35.28M 51.29M 126.33M 116.51M 110.75M 175.83M 197.52M 280.57M 273.05M 321.64M 163.33M 193.29M 147.46M 102.52M 113.84M
(-) Change In Working Capital 17.03M -20.55M -0.97M -3.76M -5.36M -1.27M -25.96M -15.19M -14.38M -5.43M -6.93M -24.06M -47.36M -21.53M -7.55M -148.99M -40.50M -56.46M -20.97M -18.68M 35.00M 12.41M 16.58M -12.62M -15.02M 26.89M -20.92M -4.46M -99.44M -4.29M -35.43M
(-) Capital Expenditure 32.27M 16.46M 13.65M 13.62M 11.52M 14.36M 8.54M 10.15M 10.63M 10.23M 10.30M 11.25M 14.08M 18.32M 11.36M 18.24M 12.36M 38.67M 63.85M 55.66M 45.38M 32.02M 73.13M 104.70M 103.94M 65.95M 100.02M 109.55M 197.89M 29.76M 43.76M
Unlevered Free Cash Flow 279.60M 94.90M 46.82M 38.40M 61.09M 53.09M 77.14M 90.58M 75.11M 102.62M 119.09M 137.00M 147.88M 94.00M 85.28M 351.73M 193.23M 104.35M 203.78M 227.50M 143.09M 173.75M 257.17M 381.90M 284.72M 433.78M 195.12M 225.34M 133.34M 167.99M 209.49M
(-) Net Interest Income After Taxes -36.05M -5.40M -17.34M -10.98M -6.48M -5.33M -2.93M -1.31M -0.59M -0.90M -1.08M -0.77M -0.50M -1.48M -3.09M -7.24M -8.06M -6.42M -3.20M -2.69M -2.53M -0.49M -0.58M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance 13.53M 6.92M 4.58M 24.86M 14.59M 14.00M 17.31M 11.64M 2.82M 4.23M 20.92M 2.01M 3.19M -2.36M -0.26M 0.04M -5.53M -58.32M 17.57M 20.86M -1.35M 41.31M -35.74M -4.63M 18.92M 6.83M -0.01M 17.44M 142.01M -1.86M 45.18M
Levered Free Cash Flow 329.19M 107.22M 68.73M 74.25M 82.17M 72.42M 97.38M 103.53M 78.52M 107.75M 141.08M 139.78M 151.57M 93.13M 88.12M 359.01M 195.76M 52.44M 224.55M 251.06M 144.27M 215.55M 222.01M 377.27M 303.64M 440.61M 195.10M 242.78M 275.36M 166.13M 254.66M