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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 19
HOLD 18
SELL 1
STRONG
SELL 0
| PRICE TARGET: $398.40 DETAILS
HIGH: $443.00
LOW: $360.00
MEDIAN: $394.50
CONSENSUS: $398.40
UPSIDE: 23.92%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Revenue
Revenue 17,181 15,698 13,376 12,479 12,193 11,066 11,013 10,770 9,998 9,409 9,480 12,045 11,815 11,514 11,287 8,512 7,595 7,528 7,359 6,881 6,651 10,172 9,810 7,443 7,426 7,319 7,070 6,493 5,751 3,888 3,465.7 4,156.9 3,844.8
Cost of Revenue 8,985 8,283 6,902 6,477 6,738 5,905 6,054 6,103 6,003 5,514 5,605 7,014 6,945 6,709 6,567 5,097 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 8,196 7,415 6,474 6,002 5,455 5,161 4,959 4,667 3,995 3,895 3,875 5,031 4,870 4,805 4,720 3,415 7,595 7,528 7,359 6,881 6,651 10,172 9,810 7,443 7,426 7,319 7,070 6,493 5,751 3,888 3,465.7 4,156.9 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
SG&A Expenses 1,561 2,014 1,862 1,739 2,541 1,510 1,723 1,869 1,706 1,552 1,562 3,065 3,199 3,209 3,124 2,171 6,574 6,588 6,053 5,862 5,700 7,406 7,123 6,355 5,813 5,190 5,214 4,457 3,968.3 2,328.6 1,982.3 1,899.6 0
Other Expenses 2,291 1,566 827 594 824 870 1,067 1,254 1,224 532 726 0 0 0 0 0 0 0 143 224 244 1,750 1,476 171 1,087 1,135 1,116 1,018 1,171.6 1,073.7 988.1 1,673.3 (3,323.4)
Operating Expenses 3,852 3,580 2,689 2,333 3,365 2,380 2,790 3,123 2,930 2,084 2,288 3,065 3,199 3,209 3,124 2,171 6,574 6,588 6,196 6,086 5,944 9,156 8,599 6,526 6,900 6,325 6,330 5,475 5,139.9 3,402.3 2,970.4 3,572.9 (3,323.4)
Operating Income
Operating Income 4,344 3,835 3,785 3,669 2,090 2,781 2,169 1,544 1,065 1,811 1,587 1,966 1,671 1,596 1,596 1,244 1,021 940 1,163 795 707 1,016 1,211 917 526 994 740 1,018 611.1 485.7 495.3 584 7,168.2
Interest Expense 815 788 484 406 322 334 307 278 282 282 273 255 210 228 245 182 122 126 138 129 125 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 19 67 31 18 11 6 8 5 27 9 14 10 9 10 18 15 16 94 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 5,348 4,936 3,909 3,826 2,579 3,213 2,741 2,293 1,858 2,002 2,039 2,614 2,383 2,263 2,215 1,546 1,313 1,227 1,353 1,036 979 1,505 1,511 9,131 14,915 7,652 1,070 1,286 11,340 7,671 860.7 1,009.7 7,168.2
EBIT 4,382 4,250 3,653 3,562 2,253 2,800 2,177 1,524 967 1,683 1,701 2,020 1,748 1,608 1,633 1,241 1,071 1,005 1,148 792 702 1,196 1,197 8,869 14,576 7,319 740 1,018 10,890 7,291 702.8 860.2 7,168.2
Income Before Tax 4,759 3,462 3,169 3,156 1,931 2,466 1,870 1,246 685 1,401 1,428 1,765 1,538 1,380 1,388 1,059 949 879 1,010 663 577 880 1,110 806 302 854 635 931 502 445 458 537.6 479.1
Income Tax Expense 1,009 742 541 510 623 448 297 146 250 148 175 334 390 360 378 300 268 242 348 216 161 303 411 310 156 333 243 349 203 154 154.3 177.6 155.3
Net Income 3,695 2,654 2,564 2,589 1,255 1,969 1,532 1,134 1,226 1,396 1,385 1,397 1,113 993 979 706 747 1,462 864 720 735 546 628 466 147 474 352 541 299 334 402.8 360 323.8
Per Share Data
EPS (Basic) 17.13 12.55 12.60 12.23 5.59 8.49 6.42 4.62 4.74 5.21 4.93 4.73 3.57 3.03 2.92 2.41 2.64 5.18 2.90 2.27 2.27 1.70 1.97 1.61 0.54 1.81 1.35 2.11 1.14 1.28 1.55 1.40 1.25
EPS (Diluted) 17.02 12.49 12.51 12.14 5.55 8.45 6.37 4.59 4.70 5.16 4.88 4.66 3.53 2.99 2.87 2.37 2.57 4.91 2.69 2.13 2.17 1.63 1.97 1.61 0.53 1.79 1.33 2.07 1.12 1.26 1.55 1.37 1.25
Shares Outstanding 215.1 211.4 203.5 211.7 224.7 231.9 238.6 245.2 258.5 267.9 280.9 295.3 311.8 327.7 335.5 292.9 283.0 285.3 298 317 322 319.4 317.3 287.6 266.7 261.9 258.5 255.0 252.2 253.2 244.5 234.7 239.1
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2009 2008 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Current Assets
Cash & Cash Equivalents 1,195 1,085 778 690 544 884 790 656 756 431 217 657 570 540 506 439 1,118 837 723 1,084.7 410.1 115.3 508.8 0
Short-Term Investments 1,603 10,538 369 452 292 308 138 172 529 290 422 921 5,099 3,815 6,587 6,146 2,325 2,362 2,221 5,922 5,126 938.3 783.2 8,887.3
Net Receivables 4,209 11,093 3,289 3,109 3,147 3,165 3,200 2,885 2,620 2,206 2,052 1,990 10,099 10,111 9,643 7,986 8,230 7,346 6,606 929.8 4,624.2 2,996.7 2,653.2 2,100.5
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
Other Current Assets 18,767 581 17,168 16,363 14,912 14,208 12,251 10,562 9,646 10,122 11,298 11,033 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 25,774 23,432 21,704 20,723 19,032 18,676 16,476 14,372 13,677 13,146 13,989 14,623 13,815 13,108 12,896 10,459 10,415 9,502 8,430 8,170 5,312 3,470 16,107.4 15,214.1
Non-Current Assets
Property, Plant & Equipment 1,379 1,357 1,314 1,257 1,315 1,599 1,550 588 564 765 461 451 664 827 865 (6,146) (6,019) (6,184) (6,452) 456.8 323.2 307.8 266.5 224.2
Goodwill 15,797 15,234 8,414 8,292 8,434 8,666 8,165 8,171 8,358 8,747 6,078 5,637 4,727 4,509 4,099 3,555 3,427 3,359 0 0 1,060.2 957.6 869.4 0
Intangible Assets 5,727 6,743 234 447 492 640 783 1,149 1,733 2,223 791 779 136 176 225 529 489 503 3,500 3,094.5 537.5 640.1 678.6 840.8
Long-Term Investments 192 90 45 60 64 74 53 54 57 119 319 342 8,621 7,324 6,587 6,146 6,019 6,184 6,452 5,922.1 5,125.6 9,780.8 9,567.6 0
Other Non-Current Assets 1,167 1,455 1,053 1,101 1,813 1,727 1,633 1,527 1,310 3,175 439 420 11,621 10,340 9,813 9,678 8,634 8,817 8,645 14,140.2 7,785 14,718.3 12,945.4 13,113.6
Total Non-Current Assets 25,010 25,533 12,255 11,981 12,896 13,430 12,929 12,050 12,411 13,469 8,969 8,549 14,514 13,919 12,438 11,927 11,836 11,630 11,258 10,521 8,410.7 16,265.8 1,814.5 1,065
Total Assets 50,784 48,965 33,959 32,704 31,928 32,106 29,405 26,422 26,088 26,615 22,958 23,172 28,329 27,027 25,334 22,386 22,251 21,132 19,688 18,691.2 13,722.7 19,735.8 17,921.9 16,279.1
Current Liabilities
Account Payables 2,861 2,905 2,262 2,114 2,192 2,016 1,939 1,943 1,961 1,604 1,535 1,560 0 0 0 0 0 7,643 6,948 6,379.8 4,143.7 2,408.7 2,408.7 0
Short-Term Debt 589 751 1,204 945 1,164 448 712 251 299 336 10 105 2 53 117 257 309 303 501 764 213 243.9 243.9 168.6
Deferred Revenue 0 280 270 250 321 296 270 251 311 393 0 (24) 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 19,776 18,608 17,442 16,618 15,034 14,350 12,347 10,768 10,045 10,279 12,630 11,138 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 23,226 22,995 21,651 20,306 19,073 17,424 15,571 13,296 12,755 12,495 12,640 12,899 19,528 19,050 19,016 16,321 16,215 16,220 15,241 14,382 10,365 16,515 2,652.6 168.6
Non-Current Liabilities
Long-Term Debt 15,301 16,265 9,995 9,825 8,228 7,281 6,627 5,993 5,667 5,869 1,998 1,872 2,115 2,095 89 100 1,798 1,611 923 637 475 495.5 495.5 521.3
Deferred Tax Liabilities 340 319 115 99 412 262 199 181 127 101 129 118 0 0 0 0 0 0 0 0 16.5 129.3 129.3 0
Other Non-Current Liabilities 1,439 2,241 2,256 2,145 2,169 2,517 2,477 2,499 2,689 2,618 1,000 1,393 (2,115) (2,095) (89) (100) (1,798) (1,611) (923) 0 (16.5) (127.8) (624.8) (521.3)
Total Non-Current Liabilities 18,010 19,540 13,050 12,827 11,697 11,099 10,385 8,907 8,685 8,588 4,887 4,959 3,648 3,429 2,373 2,494 2,598 1,811 580 637 475 497 624.8 521.3
Total Liabilities 41,236 42,535 34,701 33,133 30,770 28,523 25,956 22,203 21,440 21,083 17,527 17,858 23,226 22,529 20,737 18,065 18,063 17,281 15,871 15,069.1 10,889.8 17,478.4 15,664.5 13,991.3
Stockholders' Equity
Common Stock 2 2 2 2 2 2 2 2 2 3 363 362 339 336 333 293 264 259 172 171.5 114.1 110.6 110.6 0
Retained Earnings (245) (2,309) (3,399) (2,772) (1,694) 1,042 1,254 2,093 2,302 3,807 7,335 6,816 4,031 3,679 3,251 3,077 3,127 2,905 2,782 2,463.4 2,356.8 1,998.1 1,998.1 1,784.9
Accumulated Other Comprehensive Income (3,843) (4,745) (4,373) (4,623) (3,871) (3,861) (4,033) (3,909) (3,496) (3,912) (1,675) (1,462) (870) (861) (954) (717) (377) (309) (116) 103.4 154.1 (162.5) (162.5) (61)
Total Stockholders' Equity 9,352 6,121 (826) (529) 1,061 3,495 3,375 4,151 4,583 5,475 5,379 5,314 5,103 4,498 3,895 3,521 3,388 3,051 3,017 2,822.1 2,832.9 2,257.4 2,257.4 2,287.8
Total Liabilities & Equity 50,784 48,965 33,959 32,704 31,928 32,106 29,405 26,422 26,088 26,615 22,958 23,172 28,329 27,027 25,334 22,386 22,251 21,132 19,688 18,691.2 13,722.7 19,735.8 17,921.9 16,279.1
Debt Metrics
Total Debt 16,531 17,892 12,032 11,677 10,423 8,925 8,569 6,413 6,119 6,341 2,008 1,977 2,117 2,148 1,788 1,951 2,107 1,914 1,424 1,401 688 739.4 739.4 689.9
Net Debt 15,336 16,807 11,254 10,987 9,879 8,041 7,779 5,757 5,363 5,915 1,791 1,395 1,547 1,608 1,788 1,951 989 1,077 701 1,401 688 624.1 230.6 689.9
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Operating Activities
Net Income 3,695 2,720 2,564 2,646 1,308 2,018 1,573 1,174 1,263 1,430 497 546 651 466 203 481 352 541 298.8 270.8 303.7 360 323.8
Depreciation & Amortization 966 686 256 264 326 413 564 769 891 509 346 309 314 263 339 333 355 268 241.2 144 157.9 149.5 50.7
Stock-Based Compensation 0 474 438 397 449 312 317 338 319 331 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (192) (63) 462 48 230 57 (571) (302) (984) 119 149 (122) 75 34 (63) 145 (57) (180) (472.8) (455.1) (88.7) 182.7 1,790.8
Other Non-Cash Items (988) (471) 88 116 (142) (26) (12) (68) (747) (39) (106) 451 272 479 80 (220) (188) 235 716.9 394.9 236.7 3.6 (1,560.5)
Operating Cash Flow 3,481 3,035 3,435 3,219 2,182 2,783 1,835 1,686 734 2,326 886 1,184 1,312 1,242 559 739 462 864 784.1 354.6 609.6 695.8 604.8
Investing Activities
Capital Expenditure (263) (218) (252) (196) (137) (141) (225) (240) (183) (222) (126) (80) (185) (278) (281) (179) (271) (300) (1,794.8) (74.8) (97.9) (76.9) (47.1)
Acquisitions 1,955 (2,806) (30) (81) 204 (338) 13 (68) 3,217 (772) 283 53 (8) (111) (107) (85) (395) (374) (1,648.9) 1,027.8 (109.6) (22) 0
Purchases of Investments (1,551) (172) (67) (282) (91) (264) (113) (80) (296) (64) (3,474) (2,840) (2,070) (2,630) (2,319) (1,036) (93) (5,185) (4,632.7) (1,028.6) (4,842.9) (3,467.6) (4,649)
Sales/Maturities of Investments 145 363 161 110 73 64 96 419 68 104 2,548 1,944 1,656 2,422 2,091 1,163 1,967 4,504 4,317.2 836.7 1,480.8 3,205 4,118.6
Other Investing Activities 0 0 0 0 0 0 0 0 (19) 0 0 0 0 0 0 0 (1,701) 0 2,382.9 (523.6) 2,945.4 0 (96.3)
Investing Cash Flow 286 (2,833) (188) (449) 49 (679) (229) 31 2,787 (954) (769) (923) (607) (597) (616) (137) (493) (1,355) (1,376.3) 237.5 (624.2) (361.5) (673.8)
Financing Activities
Net Debt Issuance (1,874) 2,407 367 1,402 1,753 271 1,111 337 (345) 522 (12) (46) (385) (191) (143) 191 558 46 468 (145) 116.4 47 (43.2)
Stock Repurchased (1,000) (1,000) (2,700) (3,203) (3,543) (1,763) (1,960) (1,470) (2,399) (1,257) (75) 0 (6) (97) 0 (59) (66) (18) (136) (18) (121.8) (132) 11.4
Dividends Paid (629) (562) (489) (463) (447) (412) (410) (382) (364) (345) (193) (192) (190) (233) (241) (226) (210) (194) (182.1) (172.9) (171.3) (162.3) (151)
Other Financing Activities (772) (128) (115) 416 258 132 1,012 (184) (157) (206) 0 (51) (89) (682) (285) (219) (130) 298 465.2 49.2 (200.1) 195.1 346.9
Financing Cash Flow (4,205) 796 (2,865) (1,790) (1,924) (1,772) (247) (1,699) (3,265) (1,286) (204) (266) (670) (596) (620) (313) 152 132 1,300 (301) (376.8) 6.1 149.5
Cash Position
Net Change in Cash 240 611 646 431 72 629 1,422 (100) 325 47 (94) 30 56 45 (679) 281 114 (362) 675 295 (393.5) 345 (87.7)
Cash at Beginning 8,333 7,722 7,076 6,645 6,573 5,944 4,522 756 431 384 570 540 484 439 1,118 837 723 1,085 410 115 508.8 163.8 87.7
Cash at End 8,573 8,333 7,722 7,076 6,645 6,573 5,944 656 756 431 476 570 540 484 439 1,118 837 723 1,085 410 115.3 508.8 0
Free Cash Flow 3,218 2,817 3,183 3,023 2,045 2,642 1,610 1,446 551 2,104 760 1,104 1,127 964 278 560 191 564 (1,010.7) 279.8 511.7 618.9 557.7
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993
Income Statement
Revenue 17,181 15,698 13,376 12,479 12,193 11,066 11,013 10,770 9,998 9,409 9,480 12,045 11,815 11,514 11,287 8,512 7,595 7,528 7,359 6,881 6,651 10,172 9,810 7,443 7,426 7,319 7,070 6,493 5,751 3,888 3,465.7 4,156.9 3,844.8
Gross Profit 8,196 7,415 6,474 6,002 5,455 5,161 4,959 4,667 3,995 3,895 3,875 5,031 4,870 4,805 4,720 3,415 7,595 7,528 7,359 6,881 6,651 10,172 9,810 7,443 7,426 7,319 7,070 6,493 5,751 3,888 3,465.7 4,156.9 0
Operating Income 4,344 3,835 3,785 3,669 2,090 2,781 2,169 1,544 1,065 1,811 1,587 1,966 1,671 1,596 1,596 1,244 1,021 940 1,163 795 707 1,016 1,211 917 526 994 740 1,018 611.1 485.7 495.3 584 7,168.2
Net Income 3,695 2,654 2,564 2,589 1,255 1,969 1,532 1,134 1,226 1,396 1,385 1,397 1,113 993 979 706 747 1,462 864 720 735 546 628 466 147 474 352 541 299 334 402.8 360 323.8
EPS (Diluted) 17.02 12.49 12.51 12.14 5.55 8.45 6.37 4.59 4.70 5.16 4.88 4.66 3.53 2.99 2.87 2.37 2.57 4.91 2.69 2.13 2.17 1.63 1.97 1.61 0.53 1.79 1.33 2.07 1.12 1.26 1.55 1.37 1.25
Balance Sheet
Cash & Equivalents 1,195 1,085 778 690 544 884 790 656 756 431 217 657 570 540 506 439 1,118 837 723 1,084.7 410.1 115.3 508.8 0
Total Assets 50,784 48,965 33,959 32,704 31,928 32,106 29,405 26,422 26,088 26,615 22,958 23,172 28,329 27,027 25,334 22,386 22,251 21,132 19,688 18,691.2 13,722.7 19,735.8 17,921.9 16,279.1
Total Debt 16,531 17,892 12,032 11,677 10,423 8,925 8,569 6,413 6,119 6,341 2,008 1,977 2,117 2,148 1,788 1,951 2,107 1,914 1,424 1,401 688 739.4 739.4 689.9
Stockholders' Equity 9,352 6,121 (826) (529) 1,061 3,495 3,375 4,151 4,583 5,475 5,379 5,314 5,103 4,498 3,895 3,521 3,388 3,051 3,017 2,822.1 2,832.9 2,257.4 2,257.4 2,287.8
Cash Flow
Operating Cash Flow 3,481 3,035 3,435 3,219 2,182 2,783 1,835 1,686 734 2,326 886 1,184 1,312 1,242 559 739 462 864 784.1 354.6 609.6 695.8 604.8
Capital Expenditure (263) (218) (252) (196) (137) (141) (225) (240) (183) (222) (126) (80) (185) (278) (281) (179) (271) (300) (1,794.8) (74.8) (97.9) (76.9) (47.1)
Free Cash Flow 3,218 2,817 3,183 3,023 2,045 2,642 1,610 1,446 551 2,104 760 1,104 1,127 964 278 560 191 564 (1,010.7) 279.8 511.7 618.9 557.7