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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 20
HOLD 16
SELL 0
STRONG
SELL
0
| PRICE TARGET: $34.64 DETAILS
HIGH: $37.50
LOW: $32.00
MEDIAN: $35.00
CONSENSUS: $34.64
UPSIDE: 7.34%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Revenue
Revenue 472.0 459.3 478.5 457.5 459.3 436.6 445.1 423.5 423.6 408.7 421.7 395.5 397.7 380.9 391.6 361.9 356.1 338.1 339.6 313.7 312.6 296.6 307.9 280.7 287.3 284.0 298.3 281.9 279.2 270.3 280.1 264.5 258.0 242.8 246.8 237.0 233.8 227.6 236.1 220.3 195.0 172.6 172.6 153.6 131.7 116.9 110.4 94.3 77.3 64.9 49.5 18.1 6.6 3.3 1.0 0.2 0.1
Cost of Revenue 455.6 438.4 215.0 194.5 204.8 185.3 206.6 184.8 190.7 178.2 201.2 177.4 182.9 170.6 186.3 165.7 165.7 151.1 162.5 142.0 147.2 132.1 149.8 134.7 132.9 125.4 143.2 127.2 128.2 119.1 133.5 118.8 121.3 106.0 116.7 104.8 101.9 96.7 112.1 97.6 87.6 79.1 89.2 75.7 65.1 58.4 69.0 44.1 38.8 33.6 25.9 13.3 5.6 3.3 0.9 0.2 0.1
Gross Profit 16.5 20.9 263.5 263.0 254.5 251.2 238.4 238.7 232.9 230.5 220.5 218.2 214.8 210.3 205.3 196.2 190.5 187.0 177.0 171.7 165.3 164.4 158.2 146.0 154.4 158.6 155.1 154.6 151.0 151.2 146.5 145.7 136.7 136.8 130.1 132.2 131.9 130.8 124.0 122.7 107.3 93.5 83.4 78.0 66.6 58.5 41.4 50.2 38.5 31.3 23.5 4.8 0.9 (0.1) 0.1 (0.0) 0.0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 0 22.8 20.5 20.0 20.8 21.7 20.1 22.5 22.7 19.3 19.1 20.6 18.6 12.7 17.7 19.5 18.1 12.7 13.6 13.9 15.2 10.1 13.6 11.5 11.3 12.2 11.1 10.5 9.4 8.4 9.3 9.7 9.2 8.0 8.5 8.9 9.3 8.5 8.0 7.9 8.6 7.2 7.0 7.0 6.8 6.6 6.0 6.3 5.6 4.1 2.9 4.7 4.5 4.3 2.3 1.5 0.2
Other Expenses (101.8) (117.8) 126.7 126.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.0
Operating Expenses (101.8) (95.0) 147.2 146.9 20.8 21.7 20.1 22.5 22.7 19.3 19.1 20.6 18.6 12.7 17.7 19.5 18.1 12.7 13.6 13.9 15.2 10.1 13.6 11.5 11.3 12.2 11.1 10.5 9.4 8.4 9.3 9.7 9.2 8.0 8.5 8.9 9.3 8.5 8.0 7.9 8.6 7.2 7.0 7.0 6.8 6.6 6.0 6.3 44.0 40.7 27.4 4.6 7.4 5.8 2.8 1.6 0.2
Operating Income
Operating Income 118.3 115.9 116.3 116.1 233.7 229.6 218.3 216.2 210.2 211.2 201.3 197.5 196.2 197.6 187.7 176.6 172.4 174.3 163.4 157.8 150.1 154.3 144.6 134.5 143.2 146.5 144.0 144.2 141.5 142.8 137.3 136.0 127.5 128.8 121.6 123.3 122.6 122.3 115.9 114.8 98.8 86.3 76.4 70.9 59.8 51.9 35.3 43.9 (2.2) (6.0) (3.4) (10.8) (6.5) (5.8) (2.7) (1.6) (0.2)
Interest Expense 61.2 45.3 48.2 46.3 45.4 44.5 43.6 38.7 38.6 49.3 34.4 34.8 35.9 36.2 36.3 34.8 27.6 28.3 31.1 27.5 28.0 28.5 29.3 29.6 29.7 31.2 31.5 32.6 31.9 30.7 30.9 32.0 29.3 25.7 26.6 28.4 31.9 31.5 32.9 35.5 31.0 27.9 23.9 22.0 15.7 9.4 5.1 3.9 1.5 0 0 0 0.4 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 14.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 337.4 315.3 291.7 296.9 233.7 229.6 218.3 216.2 210.2 211.2 201.3 197.5 196.2 194.9 187.7 176.6 172.4 170.4 163.4 157.8 149.1 150.2 144.6 133.4 142.2 145.2 142.2 141.8 139.0 139.5 134.3 133.5 125.3 126.8 119.5 121.1 119.7 117.8 109.0 102.6 91.2 83.2 73.6 66.9 56.6 48.5 31.3 40.3 28.8 21.5 17.4 (1.8) (3.6) (4.3) (2.2) (1.5) (0.1)
EBIT 210.1 189.5 165 169.9 109.9 106.5 99.5 99.4 95.3 96.2 87.3 85.0 84.2 82.5 79.0 72.9 73.2 74.0 69.9 67.8 60.1 62.7 58.6 49.7 60.3 63.2 62.0 61.3 60.4 61.7 57.3 57.7 48.2 53.0 46.8 50.6 48.6 48.2 40.5 35.2 29.3 24.1 8.6 11.7 6.1 4.7 (9.5) 5.6 (2.2) (6.0) (3.4) (10.8) (6.5) (5.8) (2.7) (1.6) (0.2)
Income Before Tax 148.8 144.3 116.8 123.6 128.7 143.9 87.6 108.5 128.1 90.9 88.1 115.4 137.7 103.8 61.7 74.6 70.0 61.3 48.5 51.8 48.9 45.3 40.2 31.8 37.5 41.5 41.4 40.3 33.1 34.7 30.3 25.9 21.5 30.5 19.1 15.1 11.8 9.3 (0.2) (3.8) 5.0 (11.3) (19.9) (8.4) (8.3) (10.0) (12.8) (3.4) (6.9) (9.5) (3.9) 0.1 (6.9) (5.8) (2.7) (1.6) (0.2)
Income Tax Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Income 131.3 127.3 102.9 109.0 113.5 126.7 77.3 95.6 112.8 80.1 77.6 101.5 121.0 91.0 54.2 66.2 61.7 53.9 42.6 48.6 44.0 40.9 36.3 29.2 34.0 37.4 37.3 36.3 30.1 31.4 27.4 29.0 20.4 35.0 18.8 15.1 12.1 16.0 (7.5) (3.0) 1.2 (14.9) (23.0) (12.1) (12.2) (13.7) (16.2) (7.6) (10.6) (13.4) (7.7) (3.5) (7.8) (5.8) (2.7) (1.6) (0.2)
Per Share Data
EPS (Basic) 0.35 0.33 0.27 0.28 0.30 0.33 0.20 0.25 0.30 0.21 0.20 0.27 0.33 0.25 0.14 0.16 0.16 0.14 0.11 0.06 0.10 0.09 0.07 0.05 0.07 0.08 0.08 0.07 0.05 0.06 0.05 -0.05 0.02 -0.08 0.01 -0.00 -0.01 0.01 -0.09 -0.04 -0.02 -0.10 -0.14 -0.08 -0.08 -0.09 -0.11 -0.07 -0.07 -0.08 -0.05 -0.16 -0.16 -0.31 -0.81 -0.02 -0.00
EPS (Diluted) 0.35 0.33 0.27 0.28 0.30 0.33 0.20 0.25 0.30 0.21 0.20 0.27 0.32 0.24 0.14 0.16 0.16 0.14 0.11 0.06 0.09 0.09 0.07 0.05 0.07 0.08 0.08 0.07 0.05 0.06 0.05 -0.05 0.02 -0.08 -0.00 -0.00 -0.01 0.00 -0.09 -0.04 -0.02 -0.10 -0.14 -0.08 -0.08 -0.09 -0.11 -0.07 -0.07 -0.08 -0.05 -0.16 -0.16 -0.31 -0.81 -0.02 -0.00
Shares Outstanding 364.3 369.9 370.7 370.7 370.4 369.4 367.0 366.8 366.5 363.0 362.4 362.1 360.4 353.9 348.9 348.5 345.7 336.0 324.0 319.8 317.0 316.4 308.1 301.0 300.8 300.7 300.6 299.5 296.8 296.6 296.2 295.5 286.2 286.5 266.8 258.9 244.4 239.9 238.4 238.5 219.2 208.0 211.4 211.5 211.5 211.5 202.5 185.5 185.5 185.5 162.7 96.0 48.2 19.0 96.0 96.0 91.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 63.3 108.5 45.6 323.3 69.7 199.4 162.5 718.4 124.8 59.4 69.5 199.6 255.6 69.2 97.2 70.4 56.6 48.2 64.0 40.6 75.2 137.1 315.8 32.0 33.1 37.6 171.2 119.2 154.6 30.3 110.1 53.5 203.9 46.2 243.5 67.3 495.8 118.8 106.3 270.4 71.4
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 48.2 42.9 56.8 50.8 52.5 49.0 50.4 44.2 45.7 43.9 51.9 40.7 43.5 50.1 48.1 38.0 43.6 76.9 88.1 85.6 49.7 41.5 46.9 32.3 30.0 29.6 36.3 32.0 32.8 29.0 36.1 28.0 28.1 30.1 35.4 19.3 18.7 17.6 21.8 19.3 17.0
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 144.9 122.4 130.1 143.3 149.2 150.8 155.4 163.3 158.5 162.5 176.8 169.4 161.5 148.8 165.2 155.1 185.7 143.6 138.0 143.0 171.6 163.5 161.7 164.6 163.9 126.5 126.8 (15.5) 12.2 (1.1) (95.2) (87.9) (85.4) (35.2) (29.8) (9.0) (7.7) (2.2) 10.8 (10.4) (10.7)
Total Current Assets 256.4 273.8 232.5 517.4 271.4 399.2 368.3 925.9 329.0 265.7 298.1 409.7 460.6 268.1 310.6 263.5 285.9 268.7 290.1 269.2 296.6 342.1 524.4 229.0 227.0 230.6 334.3 316.9 345.6 204.2 302.2 240.6 388.3 213.0 398.6 215.1 649.6 267.9 259.5 423.6 220.5
Non-Current Assets
Property, Plant & Equipment 16.0 0 15.7 14.6 14.7 14.7 14.4 15.3 15.7 16.6 17.1 17.4 18.3 19.1 18.8 19.4 17.3 17.3 17.6 17.9 18.6 18.8 0 0 0 3.8 0 0 0 0 0 0 0 8,065.0 7,802.5 7,633.8 7,542.2 7,547.9 7,545.4 7,521.7 7,561.2
Goodwill 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.3 120.7 120.7
Intangible Assets 0 0 0 0 0 0 0 0 0 0 8.4 9.0 9.7 0 10.8 11.5 12.2 13.1 13.9 14.7 4.3 4.9 (9.5) (9.1) (8.7) (8.1) (8.8) (9.8) (10.3) (10.5) (8.9) (7.3) (8.0) (5.2) (10.6) (7.9) (5.4) (2.1) (6.5) (9.3) 3.8
Long-Term Investments 150.7 12,502.7 162.0 147.8 160.8 159.1 155.0 150.1 114.6 139.9 143.0 134.0 134.3 133.0 136.1 140.8 135.5 147.6 136.3 129.3 125.7 118.8 100.6 95.6 91.2 93.6 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7 25.7
Other Non-Current Assets 12,631.7 345.4 12,723.0 12,792.2 12,722.1 12,687.8 12,186.3 12,092.4 12,181.5 12,145.7 11,972.4 11,832.0 11,676.9 11,634.5 11,502.3 11,299.2 10,870.1 10,395.4 9,927.2 9,417.4 9,121.2 8,988.8 8,864.6 8,836.0 8,771.5 8,660.0 8,668.6 8,689.6 8,709.9 8,661.8 8,532.1 8,451.2 8,431.8 190.1 173.4 159.4 158.2 147.6 142.1 170.0 165.9
Total Non-Current Assets 12,918.6 12,968.3 13,020.9 13,074.9 13,017.8 12,982.0 12,476.0 12,378.1 12,432.1 12,422.5 12,261.2 12,112.7 11,959.4 11,907.0 11,788.3 11,591.3 11,155.5 10,693.7 10,215.3 9,699.6 9,390.1 9,251.5 9,076.0 9,042.8 8,974.4 8,869.5 8,805.8 8,825.7 8,845.5 8,797.2 8,669.2 8,589.9 8,569.8 8,395.8 8,111.3 7,931.2 7,841.0 7,839.4 7,827.0 7,828.8 7,877.2
Total Assets 13,175.0 13,242.1 13,253.5 13,592.3 13,289.2 13,381.2 12,844.3 13,303.9 12,761.1 12,688.2 12,559.4 12,522.4 12,420.0 12,175.1 12,098.8 11,854.8 11,441.4 10,962.4 10,505.4 9,968.7 9,686.7 9,593.6 9,600.4 9,271.8 9,201.4 9,100.1 9,140.1 9,142.6 9,191.0 9,001.5 8,971.4 8,830.4 8,958.0 8,608.8 8,509.9 8,146.3 8,490.6 8,107.2 8,086.5 8,252.4 8,097.7
Current Liabilities
Account Payables 0.4 0 0.4 0.4 1.9 0.1 1.0 0.4 0.3 36.1 6.1 3.9 5.6 5.7 3.4 4.7 3.5 1.1 1.0 4.6 0.2 0.4 1.6 1.5 1.3 5.0 0.4 1.8 1.8 0.2 0.2 0.2 0.3 1.7 1.1 0.9 0.2 0.0 0 0.3 0.1
Short-Term Debt 390 4.4 110 0 410 0 0 0 0 90 0 0 0 130 0 0 410 350 0 620 80 0 0 130 105 0 0 0 0 250 0 0 0 140 0 92 0 0 75 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (19.2) 0 0 0 (3.9) 0 0 0 0 0 0 0 0 0 0 (22.5) 0 0 0 0
Total Current Liabilities 786.1 4.4 601.5 481.8 823.1 400.8 489.0 446.7 406.1 506.4 496.7 457.7 389.6 497.3 449.4 412.4 736.3 643.6 344.7 944.7 343.4 260.2 303.5 393.7 324.0 223.9 272.9 282.7 247 451.7 287.5 263.2 242.8 346.9 243.5 293.7 177.2 157.7 296.6 199.4 184.6
Non-Current Liabilities
Long-Term Debt 4,737.9 5,108.6 4,733.5 5,158.6 4,516.7 5,010.8 4,518.8 4,992.6 4,503.1 4,371.6 4,375.0 4,378.0 4,381.7 4,386.0 4,389.2 4,392.2 3,526.5 3,530.5 3,534.7 2,808.3 2,812.9 2,817.4 2,821.2 2,824.9 2,829.7 2,833.5 2,837.1 2,841.1 2,943.9 2,553.5 2,671.7 2,674.4 2,824.9 2,335.9 2,339.2 2,342.7 2,944.1 2,922.6 2,851.8 3,094.5 3,393.4
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 373.7 34.0 56.2 56.9 74.5 96.3 105.5 98.1 108.7 94.3 87.0 76.7 69.4 65.3 38.1 19.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 28.3 29.5 68.5 76.9 75.2 69.8 65.7 63.2 63.1
Total Non-Current Liabilities 4,789.0 5,528.3 4,814.0 5,265.0 4,624.0 5,131.7 4,659.7 5,145.3 4,650.3 4,528.9 4,512.2 4,514.5 4,512.6 4,503.1 4,507.0 4,478.1 3,594.3 3,580.4 3,578.0 2,850.5 2,857.1 2,861.0 2,842.5 2,848.2 2,852.6 2,857.4 2,860.1 2,864.4 2,968.7 2,576.0 2,694.9 2,698.5 2,874.6 2,386.1 2,427.9 2,440.9 3,041.8 3,011.9 2,937.0 3,173.7 3,472.9
Total Liabilities 5,575.0 5,532.6 5,415.5 5,746.8 5,447.1 5,532.5 5,148.7 5,592.0 5,056.4 5,035.3 5,008.8 4,972.2 4,902.1 5,000.4 4,956.4 4,890.5 4,330.6 4,224.0 3,922.7 3,795.2 3,200.5 3,121.2 3,145.9 3,242.0 3,176.6 3,081.3 3,132.9 3,147.1 3,215.7 3,027.7 2,982.4 2,961.7 3,117.4 2,732.9 2,671.4 2,734.6 3,219.0 3,169.6 3,233.6 3,373.1 3,657.4
Stockholders' Equity
Common Stock 3.6 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.7 3.6 3.6 3.6 3.6 3.5 3.5 3.5 3.5 3.4 3.3 3.2 3.2 3.2 3.2 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 2.9 2.9 2.7 2.6 2.6 2.4 2.4 2.4 2.4
Retained Earnings (380.2) (387.6) (400.4) (388.7) (382.4) (380.6) (407.3) (385.3) (381.5) (394.9) (391.5) (385.4) (403.3) (440.8) (464.4) (452.2) (445.7) (438.7) (452.9) (457.4) (445.1) (443.5) (454.7) (461.4) (461.7) (465.4) (473.9) (482.4) (489.8) (491.2) (494.0) (494.3) (462.5) (454.0) (417.6) (405.4) (392.3) (378.6) (368.8) (335.7) (313.4)
Accumulated Other Comprehensive Income 6.3 6.6 6.9 7.2 6.2 7.9 2.8 0.6 0.7 0.8 1.0 1.1 1.2 1.3 1.5 1.6 1.7 1.8 1.9 2.0 13.6 5.8 6.0 6.2 6.5 6.7 6.9 7.1 7.2 0 9.0 9.3 9.5 0 0 0 0 0 0.0 (0.4) (0.1)
Total Stockholders' Equity 6,927.8 7,033.7 7,161.3 7,165.2 7,153.9 7,160.0 7,011.5 7,025.2 7,017.4 6,967.5 6,864.7 6,863.6 6,833.8 6,496.0 6,467.3 6,287.3 6,432.9 6,059.6 5,906.1 5,497.6 5,806.5 5,789.1 5,769.0 5,345.6 5,340.5 5,335.4 5,325.3 5,312.5 5,259.9 5,252.0 5,268.7 5,148.5 5,116.1 5,149.6 5,103.6 4,673.1 4,530.0 4,192.9 4,098.8 4,129.8 3,686.9
Total Liabilities & Equity 13,175.0 13,242.1 13,253.5 13,592.3 13,289.2 13,381.2 12,844.3 13,303.9 12,761.1 12,688.2 12,559.4 12,522.4 12,420.0 12,175.1 12,098.8 11,854.8 11,441.4 10,962.4 10,505.4 9,968.7 9,686.7 9,593.6 9,600.4 9,271.8 9,201.4 9,100.1 9,140.1 9,142.6 9,191.0 9,001.5 8,971.4 8,830.4 8,958.0 8,608.8 8,509.9 8,146.3 8,490.6 8,107.2 8,086.5 8,252.4 8,097.7
Debt Metrics
Total Debt 5,145.4 5,125.8 4,860.8 5,174.7 4,942.9 5,027.1 4,534.8 5,009.5 4,520.5 4,479.9 4,393.9 4,397.1 4,401.7 4,536.8 4,409.5 4,413.2 3,955.3 3,899.2 3,553.7 3,447.3 2,912.2 2,855.7 2,821.2 2,954.9 2,934.7 2,841.3 2,837.1 2,841.1 2,943.9 2,803.5 2,671.7 2,674.4 2,824.9 2,475.9 2,339.2 2,434.7 2,944.1 2,922.6 2,926.8 3,094.5 3,393.4
Net Debt 5,082.1 5,017.3 4,815.2 4,851.4 4,873.2 4,827.7 4,372.4 4,291.1 4,395.7 4,420.6 4,324.3 4,197.5 4,146.1 4,467.6 4,312.3 4,342.8 3,898.7 3,851.0 3,489.7 3,406.7 2,836.9 2,718.7 2,505.4 2,922.9 2,901.6 2,803.8 2,665.9 2,721.9 2,789.3 2,773.3 2,561.6 2,620.9 2,621.0 2,429.7 2,095.7 2,367.4 2,448.3 2,803.8 2,820.5 2,824.1 3,322.0
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 148.8 85.1 116.8 123.6 113.5 143.9 87.6 108.5 128.1 79.9 88.1 115.4 137.7 103.8 61.7 74.6 70.0 61.3 48.5 51.8 48.9 45.3 40.2 31.8 37.5 41.5 37.3 40.3 33.1 34.7 27.4 25.9 21.5 30.5 19.1 15.1 11.8 9.3 (0.2) (3.0) 5.0
Depreciation & Amortization 127.3 125.8 126.7 126.9 124.9 124.0 119.7 117.6 115.7 115.8 114.9 113.2 112.7 112.8 109.3 104.4 100.0 97.2 94.5 91.1 90.1 88.5 87.0 84.8 82.8 83.2 82.1 82.8 81.2 81.1 79.9 78.3 79.3 75.8 74.8 72.7 74.0 74.2 75.4 79.6 69.5
Stock-Based Compensation 6.8 5.5 6.2 6.5 7.7 4.8 5.7 10.5 9.9 4.6 6.4 8.5 5.8 3.6 5.7 10.6 7.4 3.5 3.1 3.2 8.1 3.8 2.2 2.1 1.8 1.3 1.3 1.3 1.0 0.7 0.8 0.9 1.0 1.0 1.1 1.1 0.9 0.9 0.9 1.0 0.9
Change in Working Capital (5.0) 13.2 17.0 65.2 18.8 (92.3) 44.4 77.2 12.0 (71.9) 29.4 35.4 27.2 (98.2) 62.1 60.0 (0.2) (53.4) 27.7 42.8 19.5 (79.2) 29.4 43.3 7.6 (80.4) 19.1 25.3 35.3 (82.2) 14.2 28.5 9.1 (68.1) 22.7 16.2 14.4 (58.0) 11.8 13.1 (0.3)
Other Non-Cash Items (74.8) (83.9) (43.5) (50.4) (41.5) (78.2) (23.9) (39.9) (64.0) (13.0) (31.1) (57.3) (83.0) (53.3) (21.0) (29.4) (18.5) (11.5) 2.5 (9.1) (14.6) (11.7) (10.5) (9.3) (3.2) (8.1) (6.8) (10.1) (2.5) 0.1 4.2 3.0 1.6 (2.8) 6.5 10.0 8.9 (2.5) 5.6 2.6 (6.5)
Operating Cash Flow 203.1 145.8 223.3 271.9 223.4 102.2 233.6 274 201.8 115.3 207.7 215.2 200.5 68.7 217.8 220.3 158.7 97.0 166.4 179.8 152.0 46.7 148.2 152.7 126.5 37.5 132.9 139.6 147.9 34.4 126.5 137.5 112.5 36.6 124.2 115.2 110.0 35.9 93.5 93.2 55.4
Investing Activities
Capital Expenditure (23.2) 118.3 (56.6) (30.7) (30.9) (40.6) (31.2) (26.2) (23.8) (27.8) (38.8) (35.9) (31.7) (40.0) (45.0) (29.6) (24.2) (32.1) (33.8) (30.5) (26.0) (25.7) (32.6) (25.2) (21.2) (19.4) (18.7) (17.6) (15.7) (14.0) (17.1) (12.2) (11.2) (27.5) (24.5) (19.2) (87.8) (24.0) (146.5) (53.3) (50.8)
Acquisitions (4.8) 11.4 (6.6) (4.8) 0 6.9 (5.8) 0 (1.1) (0.1) 0 0 0 (8.0) (4.5) (7.5) (5.3) (8.5) (6.1) (6.6) (8.0) (14.2) (10.5) (4.2) (1) (8.3) (2.5) 0 0 (4.6) 0 0 1.2 0 0 0 0 9.5 0 0 (325.0)
Purchases of Investments 0 0 0 0 0 0 (235.6) 0 0 0 0 0 0 (3.9) 0 (479.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 87.3 0 0 0 0 0 94.4 0 0 27.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 38.2 (146.3) 11.0 (85.1) (107.7) (499.2) 95.7 (3.2) (67.0) (314.4) (188.7) (129.1) (41.2) (244.7) (258.8) (19.1) (483.3) (501.3) (593.3) (332.2) (174.2) (165.9) (71.5) (113.9) (157.0) (125.0) (32.8) (21.5) (115.2) (173.9) (139.1) (91.8) (211.7) (1.3) (3.9) 20.0 17.8 1.0 102.4 22.1 (0.5)
Investing Cash Flow 10.3 (47.5) (52.2) (120.7) (107.7) (532.8) (185.1) (40.2) (68.1) (227.3) (227.5) (164.9) (72.9) (157.8) (314.1) (440.7) (512.8) (542.0) (606.3) (376.9) (208.2) (205.8) (114.6) (143.3) (179.2) (152.8) (54.1) (39.2) (130.9) (192.5) (156.3) (104.0) (221.6) (350.6) (264.4) (152.5) (70.0) (78.4) (44.1) (31.2) (376.3)
Financing Activities
Net Debt Issuance 30 250 110 236.4 (86.6) 407.8 (489.1) 488.0 38.0 84.1 (5.5) (6.2) (130) 124.3 (5.6) 466.8 54.1 343.8 117.2 522.7 73.9 (5.4) (135.3) 18.7 99.6 (5.2) (5.6) (105.2) 138.8 109.7 (5.2) (149.2) 357.0 134.3 (92.2) (58.2) 24.8 (0.2) (188.5) (296.2) 437.8
Stock Repurchased (115.1) (150.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 (155) 0 0 0 (498.8) 0 0 0 0 0 0 0 0 0 0 0 0 (35.0) 0 0 (0.2) 0 0 (0.1) (20.1) (76.3)
Dividends Paid (124.9) (114.2) (115.1) (115.1) (115.9) (99.9) (99.1) (99.1) (99.4) (83.4) (83.4) (83.4) (83.3) (67.3) (66.4) (67.5) (68.4) (39.7) (38.2) (44.9) (61.3) (13.8) (29.6) (28.9) (43.9) (13.8) (57.7) (28.7) (14.8) (40.9) (26.8) (29.0) (28.9) (0.0) (31.0) (28.2) (25.8) (25.8) (25.6) (19.3) (17.7)
Other Financing Activities (26.1) (29.1) (468.4) (28.3) (45.1) 43.0 (24.8) (26.4) (45.4) (11.4) (11.3) (11.3) (21.8) (9.2) 16.4 (8.7) 6.4 (5.2) (21.7) (5.2) (10.4) (0.0) (2.6) (2.6) (6.8) 0 (3.3) (5.5) (2.7) (2.8) (2.8) (5.3) (6.2) (5.4) (8.5) (467.3) (9.0) (9.9) (1.5) 474.4 (9.1)
Financing Cash Flow (235.8) (43.3) (461.9) 96.6 (247.1) 463.0 (612.6) 364.5 (72.2) 91.2 (99.3) (97.3) 63.3 49.4 131.9 235.7 369.2 434.8 458.4 168.6 3.3 (17.8) 247.2 (9.9) 50.3 (18.6) (65.8) (128.2) 120.5 67.1 83.4 (181.1) 286.5 133.7 307.5 (397.7) 340.6 67.1 (215.8) 138.8 334.7
Cash Position
Net Change in Cash (22.5) 55.0 (290.9) 247.7 (131.4) 32.4 (563.8) 598.4 61.4 (20.8) (119.1) (47.0) 190.9 (39.8) 35.6 15.2 15.2 (10.2) 18.5 (28.6) (53.0) (176.9) 280.8 (0.5) (2.4) (133.9) 13.1 (27.8) 137.5 (91.0) 53.6 (147.6) 177.3 (180.3) 167.3 (435.0) 380.6 143.9 (164.1) 200.8 13.8
Cash at Beginning 230.7 175.7 466.6 218.9 350.2 317.8 881.6 283.3 221.9 242.6 361.8 408.8 218.0 257.7 222.2 207.0 191.8 202.0 183.5 212.1 265.1 442.0 161.2 161.7 164.1 298.0 284.9 312.7 175.2 266.2 212.5 360.2 182.8 363.1 195.8 630.9 250.2 106.3 404.4 71.4 57.7
Cash at End 208.2 230.7 175.7 466.6 218.9 350.2 317.8 881.6 283.3 221.9 242.6 361.8 408.8 218.0 257.7 222.2 207.0 191.8 202.0 183.5 212.1 265.1 442.0 161.2 161.7 164.1 298.0 284.9 312.7 175.2 266.2 212.5 360.2 182.8 363.1 195.8 630.9 250.2 237.7 404.4 203.5
Free Cash Flow 179.8 264.1 166.7 241.1 192.5 61.6 202.4 247.8 178.0 87.5 168.9 179.3 168.8 28.7 172.8 190.7 134.6 64.9 132.6 149.2 126.0 20.9 115.6 127.5 105.3 18.1 114.2 121.9 132.2 20.4 109.4 125.3 101.3 (1.0) 112.5 106.6 103.6 (53.0) (53.0) 32.6 68.6
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3 2012 Q2 2012 Q1
Income Statement
Revenue 472.0 459.3 478.5 457.5 459.3 436.6 445.1 423.5 423.6 408.7 421.7 395.5 397.7 380.9 391.6 361.9 356.1 338.1 339.6 313.7 312.6 296.6 307.9 280.7 287.3 284.0 298.3 281.9 279.2 270.3 280.1 264.5 258.0 242.8 246.8 237.0 233.8 227.6 236.1 220.3 195.0 172.6 172.6 153.6 131.7 116.9 110.4 94.3 77.3 64.9 49.5 18.1 6.6 3.3 1.0 0.2 0.1
Gross Profit 16.5 20.9 263.5 263.0 254.5 251.2 238.4 238.7 232.9 230.5 220.5 218.2 214.8 210.3 205.3 196.2 190.5 187.0 177.0 171.7 165.3 164.4 158.2 146.0 154.4 158.6 155.1 154.6 151.0 151.2 146.5 145.7 136.7 136.8 130.1 132.2 131.9 130.8 124.0 122.7 107.3 93.5 83.4 78.0 66.6 58.5 41.4 50.2 38.5 31.3 23.5 4.8 0.9 (0.1) 0.1 (0.0) 0.0
Operating Income 118.3 115.9 116.3 116.1 233.7 229.6 218.3 216.2 210.2 211.2 201.3 197.5 196.2 197.6 187.7 176.6 172.4 174.3 163.4 157.8 150.1 154.3 144.6 134.5 143.2 146.5 144.0 144.2 141.5 142.8 137.3 136.0 127.5 128.8 121.6 123.3 122.6 122.3 115.9 114.8 98.8 86.3 76.4 70.9 59.8 51.9 35.3 43.9 (2.2) (6.0) (3.4) (10.8) (6.5) (5.8) (2.7) (1.6) (0.2)
Net Income 131.3 127.3 102.9 109.0 113.5 126.7 77.3 95.6 112.8 80.1 77.6 101.5 121.0 91.0 54.2 66.2 61.7 53.9 42.6 48.6 44.0 40.9 36.3 29.2 34.0 37.4 37.3 36.3 30.1 31.4 27.4 29.0 20.4 35.0 18.8 15.1 12.1 16.0 (7.5) (3.0) 1.2 (14.9) (23.0) (12.1) (12.2) (13.7) (16.2) (7.6) (10.6) (13.4) (7.7) (3.5) (7.8) (5.8) (2.7) (1.6) (0.2)
EPS (Diluted) 0.35 0.33 0.27 0.28 0.30 0.33 0.20 0.25 0.30 0.21 0.20 0.27 0.32 0.24 0.14 0.16 0.16 0.14 0.11 0.06 0.09 0.09 0.07 0.05 0.07 0.08 0.08 0.07 0.05 0.06 0.05 -0.05 0.02 -0.08 -0.00 -0.00 -0.01 0.00 -0.09 -0.04 -0.02 -0.10 -0.14 -0.08 -0.08 -0.09 -0.11 -0.07 -0.07 -0.08 -0.05 -0.16 -0.16 -0.31 -0.81 -0.02 -0.00
Balance Sheet
Cash & Equivalents 63.3 108.5 45.6 323.3 69.7 199.4 162.5 718.4 124.8 59.4 69.5 199.6 255.6 69.2 97.2 70.4 56.6 48.2 64.0 40.6 75.2 137.1 315.8 32.0 33.1 37.6 171.2 119.2 154.6 30.3 110.1 53.5 203.9 46.2 243.5 67.3 495.8 118.8 106.3 270.4 71.4
Total Assets 13,175.0 13,242.1 13,253.5 13,592.3 13,289.2 13,381.2 12,844.3 13,303.9 12,761.1 12,688.2 12,559.4 12,522.4 12,420.0 12,175.1 12,098.8 11,854.8 11,441.4 10,962.4 10,505.4 9,968.7 9,686.7 9,593.6 9,600.4 9,271.8 9,201.4 9,100.1 9,140.1 9,142.6 9,191.0 9,001.5 8,971.4 8,830.4 8,958.0 8,608.8 8,509.9 8,146.3 8,490.6 8,107.2 8,086.5 8,252.4 8,097.7
Total Debt 5,145.4 5,125.8 4,860.8 5,174.7 4,942.9 5,027.1 4,534.8 5,009.5 4,520.5 4,479.9 4,393.9 4,397.1 4,401.7 4,536.8 4,409.5 4,413.2 3,955.3 3,899.2 3,553.7 3,447.3 2,912.2 2,855.7 2,821.2 2,954.9 2,934.7 2,841.3 2,837.1 2,841.1 2,943.9 2,803.5 2,671.7 2,674.4 2,824.9 2,475.9 2,339.2 2,434.7 2,944.1 2,922.6 2,926.8 3,094.5 3,393.4
Stockholders' Equity 6,927.8 7,033.7 7,161.3 7,165.2 7,153.9 7,160.0 7,011.5 7,025.2 7,017.4 6,967.5 6,864.7 6,863.6 6,833.8 6,496.0 6,467.3 6,287.3 6,432.9 6,059.6 5,906.1 5,497.6 5,806.5 5,789.1 5,769.0 5,345.6 5,340.5 5,335.4 5,325.3 5,312.5 5,259.9 5,252.0 5,268.7 5,148.5 5,116.1 5,149.6 5,103.6 4,673.1 4,530.0 4,192.9 4,098.8 4,129.8 3,686.9
Cash Flow
Operating Cash Flow 203.1 145.8 223.3 271.9 223.4 102.2 233.6 274 201.8 115.3 207.7 215.2 200.5 68.7 217.8 220.3 158.7 97.0 166.4 179.8 152.0 46.7 148.2 152.7 126.5 37.5 132.9 139.6 147.9 34.4 126.5 137.5 112.5 36.6 124.2 115.2 110.0 35.9 93.5 93.2 55.4
Capital Expenditure (23.2) 118.3 (56.6) (30.7) (30.9) (40.6) (31.2) (26.2) (23.8) (27.8) (38.8) (35.9) (31.7) (40.0) (45.0) (29.6) (24.2) (32.1) (33.8) (30.5) (26.0) (25.7) (32.6) (25.2) (21.2) (19.4) (18.7) (17.6) (15.7) (14.0) (17.1) (12.2) (11.2) (27.5) (24.5) (19.2) (87.8) (24.0) (146.5) (53.3) (50.8)
Free Cash Flow 179.8 264.1 166.7 241.1 192.5 61.6 202.4 247.8 178.0 87.5 168.9 179.3 168.8 28.7 172.8 190.7 134.6 64.9 132.6 149.2 126.0 20.9 115.6 127.5 105.3 18.1 114.2 121.9 132.2 20.4 109.4 125.3 101.3 (1.0) 112.5 106.6 103.6 (53.0) (53.0) 32.6 68.6