Apollo Commercial Real Estate Finance, Inc. logo ARI - Apollo Commercial Real Estate Finance, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 2
HOLD 9
SELL 1
STRONG
SELL
0
| PRICE TARGET: $12.00 DETAILS
HIGH: $13.50
LOW: $10.50
MEDIAN: $12.00
CONSENSUS: $12.00
UPSIDE: 9.69%
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 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4
Revenue
Revenue 172.6 182.7 167.1 186.8 173.9 195.5 76.8 214.9 214.3 215.2 214.2 133.8 213.8 171.7 213.0 142.7 113.9 111.0 109.6 94.5 106.5 72.0 102.9 97.9 123.9 122.8 132.5 106.4 127.4 112.1 109.7 108.0 83.8 46.2 86.8 81.5 73.6 81.2 85.5 35.4 32.0 32.5 31.9 30.2 31.2 27.1 23.9 28.4 21.6 20.9 17.3 15.8 16.0 12.3 16.2 14.0 12.4 11.5 8.1 7.7 7.2 6.5 4.5 5.1 3.9 0.6
Cost of Revenue 132.1 39.3 33.7 34.5 34.2 33.6 33.4 35.5 38.6 31.5 30.5 33.8 31.5 26.0 23.0 22.8 20.4 23.0 18.7 12.3 9.4 9.6 9.9 10.0 10.3 10.4 10.4 10.3 9.6 9.8 9.5 9.0 8.1 8.2 8.3 7.7 7.4 7.0 5.9 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
Gross Profit 40.4 143.4 133.5 152.2 139.6 161.9 43.4 179.4 175.7 183.7 183.7 100.1 182.3 145.7 190.0 119.9 93.5 88 90.9 82.2 97.1 62.4 93.0 87.9 113.7 112.4 122.0 96.1 117.8 102.3 100.2 98.9 75.7 38.0 78.5 73.7 66.2 74.2 79.6 35.4 32.0 32.5 31.9 30.2 31.2 27.1 23.9 28.4 21.6 20.9 17.3 15.8 16.0 12.3 16.2 14.0 12.4 11.5 8.1 7.7 7.2 6.5 4.5 5.1 3.9 0.6
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 0 0 0 0 0 0 0 0 0
SG&A Expenses 14.1 16.2 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 10.2 13.4 8.3 6.2 5.9 5.7 5.0 4.6 4.4 4.0 5.1 4.4 4.0 4.1 3.4 3.9 4.1 3.3 2.9 2.5 2.5 2.5 2.5 2.1 2.1 1.7 2.6
Other Expenses 4.0 (13.7) (29.2) 80.9 50.2 (67.3) 62.5 15.0 132.5 70.2 (27.4) 91.3 48.1 149.0 (157.9) (92.3) 0.6 2.3 (32.6) (21.2) (4.8) 25.8 35.9 30.9 204.3 81.0 74.3 27.4 57.4 10.6 31.8 14.3 36.6 0 0 0 0 0 0 (0.2) (0.4) (0.3) (0.2) 0.1 0.3 (0.0) 0.4 (0.4) (0.0) (0.1) (0.4) (0.0) (0.1) (0.4) 0.1 (0.1) (0.3) 0.1 0.5 0.5 (0.5) 0.5 (0.1) (0.1) (0.1) 0
Operating Expenses 18.1 2.4 (29.2) 80.9 50.2 (67.3) 62.5 15.0 132.5 70.2 (27.4) 91.3 48.1 149.0 (157.9) (92.3) 0.6 2.3 (32.6) (21.2) (4.8) 25.8 35.9 30.9 204.3 81.0 74.3 27.4 57.4 10.6 31.8 14.3 36.6 0 0 0 0 0 0 10 13 8 6 6 6 5 5 4 4 5 4 4 4 3 4 4 3 3 3 3 2 3 2 2 2 2.6
Operating Income
Operating Income 22.4 141.0 162.6 71.3 89.4 229.2 (19.1) 164.4 43.1 113.5 211.1 8.7 134.2 (3.3) 347.8 212.2 92.9 85.7 123.5 103.4 101.9 36.6 57.0 57.1 (90.7) 31.4 47.8 68.7 60.3 91.7 68.4 84.7 39.1 42.4 60.2 32.4 43.4 65.9 38.8 26.1 33.3 39.8 39.0 36.6 37.0 32.8 27.9 29.2 19.3 17.3 13.8 12.7 13 10.4 14.0 11.8 12.3 12.3 9.2 10.3 8.5 7.4 5.3 5.6 3.5 (2.1)
Interest Expense 113.9 115.5 115.4 124.2 105.1 113.5 134.1 128.5 127.9 123.1 121.8 116.3 104.9 96.6 72.3 56.5 45.1 44.7 42.4 39.7 35.7 35.4 34.8 37.5 41.2 43.8 39.3 33.5 36.3 32.4 31.0 28.4 22.7 0 0 0 0 0 0 15.7 14.6 12.3 13.2 11.9 11.5 10.7 8.8 5.3 1.8 1.4 0.9 1.0 1.1 1.5 1.8 1.9 3.2 3.6 3.7 3.8 3.3 3.4 2.9 2.7 1.7 (0.1)
Interest Income 150.0 159.6 155.4 167.2 144.5 157.0 181.1 180.2 184.6 181.2 182.0 179.2 175.9 163.8 134.2 113.9 100.3 103.9 103.1 114.2 106.8 100.1 103.4 108.3 115.9 125.2 124.6 118.5 119.1 110.2 108.5 99.2 86.0 0 0 0 0.1 0 0 62.7 61.4 55.5 51.9 44.7 40.0 37.8 35.4 29.0 21.2 21.5 19.7 18.2 18.1 13.8 15.0 13.9 14.4 14.6 14.0 13.5 10.9 10.7 8.4 7.7 5.6 0
Profitability
EBITDA 26.3 148.0 169.2 147.6 133.6 156.7 44.9 166.6 28.1 170.7 169.4 35.1 157.8 92.6 255.3 127.5 61.1 82.9 103.9 107.9 94.0 72.0 84.2 97.7 (86.6) 115.7 68.4 94.9 104.1 85.4 93.2 83.8 72.2 42.4 60.2 32.4 43.4 65.9 38.8 0 0 4.8 0 0 0 0 0 0 0 2.4 0 (0.5) (0.0) 2.2 10.8 11.8 12.3 12.3 9.2 10.3 8.5 0 5.3 5.6 3.5 (2.1)
EBIT 22.4 144.6 166.4 145.0 131.2 154.3 42.6 164.4 23.5 169.6 168.4 32.9 153.8 92.6 255.3 127.5 60.4 81.8 102.8 107.4 94.0 72.0 84.2 97.7 (86.6) 115.7 68.4 94.9 104.1 85.4 93.2 83.8 72.2 42.4 60.2 32.4 43.4 65.9 38.8 26.1 33.3 39.8 39.0 36.6 37.0 32.8 27.9 29.2 19.3 17.3 13.8 12.7 13 10.4 26.1 23.0 22.7 29.5 0 15.0 0 14.4 0 0 0 0
Income Before Tax 26.5 29.1 51.0 20.9 26.1 40.8 (91.5) 35.9 (104.4) 46.5 46.6 (83.4) 48.9 (4.0) 183.0 71.0 15.2 37.1 60.4 67.7 58.3 36.7 49.3 60.2 (127.8) 71.9 29.1 61.4 67.8 53.0 62.2 55.3 49.4 41.3 68.4 36.2 47.1 59.0 69.9 10.3 18.6 27.2 25.8 24.7 25.5 22.0 19.2 24.0 17.6 15.9 12.9 11.8 11.9 9.0 12.2 9.9 9.1 25.9 5.5 6.5 5.2 11.0 2.4 2.9 1.7 (2.1)
Income Tax Expense 0.2 (0.1) 0.2 0.1 0.1 0.1 0.1 0.1 0.1 (0.1) 0.5 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 23.1 38.5 35.0 32.5 26.9 22.9 22.0 21.9 19.3 15.4 15.0 14.4 13.2 0 21.3 0 0 0 17.2 0 0 0 7.0 0 0 0 0
Net Income 26.2 29.2 50.8 20.7 26.0 40.7 (91.5) 35.8 (104.5) 46.5 46.1 (83.4) 48.9 (4.0) 183.0 71.0 15.2 37.1 60.4 67.7 58.3 36.7 49.3 60.2 (127.8) 71.9 29.1 61.4 67.8 53.0 62.2 55.3 49.4 40.3 67.7 35.6 46.5 58.2 69.5 10.3 18.6 27.2 25.8 24.7 25.5 22.0 19.2 24.0 17.6 15.9 12.9 11.8 11.9 9.0 12.2 9.9 9.1 8.7 5.5 6.5 5.2 4.0 2.4 2.9 1.7 (2.1)
Per Share Data
EPS (Basic) 0.16 0.18 0.34 0.12 0.16 0.27 -0.69 0.23 -0.76 0.30 0.30 -0.62 0.32 -0.06 1.27 0.48 0.08 0.23 0.40 0.45 0.39 0.23 0.31 0.37 -0.86 0.44 0.16 0.38 0.45 0.34 0.42 0.39 0.39 0.31 0.54 0.28 0.41 0.59 0.84 0.06 0.18 0.32 0.39 0.39 0.47 0.44 0.37 0.51 0.42 0.43 0.29 0.27 0.33 0.26 0.52 0.47 0.43 0.41 0.28 0.37 0.29 0.23 0.21 0.28 0.16 -0.20
EPS (Diluted) 0.16 0.18 0.34 0.12 0.16 0.27 -0.69 0.23 -0.76 0.30 0.30 -0.62 0.32 -0.06 1.13 0.44 0.08 0.23 0.38 0.42 0.37 0.23 0.31 0.36 -0.86 0.44 0.16 0.37 0.43 0.34 0.40 0.38 0.37 0.31 0.53 0.27 0.40 0.59 0.83 0.06 0.18 0.32 0.39 0.39 0.47 0.44 0.37 0.51 0.42 0.42 0.29 0.27 0.33 0.26 0.52 0.47 0.43 0.41 0.28 0.37 0.29 0.22 0.21 0.27 0.16 -0.20
Shares Outstanding 139.1 138.9 138.9 138.9 138.6 138.2 138.2 140.4 141.9 141.3 141.4 141.3 141.1 140.6 140.6 140.6 140.4 139.9 139.9 139.9 139.8 140.0 146.6 151.5 153.9 153.5 153.5 145.6 134.6 133.9 129.2 123.0 110.2 106.7 105.4 95.4 91.6 82.7 71.9 67.4 67.4 67.1 59.4 58.4 49.6 49.6 46.8 42.9 37.1 37.1 36.9 37.4 30.1 27.3 20.8 21.0 21.0 20.6 19.6 17.6 17.6 17.6 11.3 10.7 10.8 10.5
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 2010 Q2 2010 Q1 2009 Q4
Current Assets
Cash & Cash Equivalents 126.8 139.8 245.9 177.6 166.4 317.4 194.3 174.7 161.2 225.4 307.8 308.1 331.5 222.0 319.3 241.6 215.7 343.1 243.4 204.6 294.1 325.5 438.2 487.2 582.1 452.3 160.9 116.5 109.3 109.8 99.2 76.4 98.3 77.7 140.3 271.7 197.6 263.5 317.0 38.6 23.0 14.3 5.5 130
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 0 0 0
Net Receivables 58.4 70.8 65.5 74.9 61.0 58.5 78.3 75.0 85.1 72.4 68.6 71.6 65.7 65.4 61.5 46.4 44.4 41.2 35.4 39.4 37.6 40.6 38.4 44.0 41.9 35.6 36.9 39.0 36.1 33.4 31.3 27.2 25.5 23.1 27.9 22.0 22.3 19.3 18.0 19.2 23.5 3.5 3.1 1.2
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 (15.3) (1.9) 0 0 0
Other Current Assets 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 (197.8) 0 0 0 0 0 0 (100.8) (168.2) (293.7) (219.9) (282.7) (335.0) 0 0 0 0 0
Total Current Assets 185.2 210.7 311.3 252.5 227.5 375.9 272.6 249.7 246.3 297.8 376.5 379.6 397.3 287.4 380.8 288.0 260.1 384.3 278.9 244.0 331.7 366.1 476.6 531.2 624.0 487.9 197.8 155.5 145.4 143.2 130.4 103.6 123.9 0 0 0 0 0 0 0.0 0.0 0.0 0.0 130.0
Non-Current Assets
Property, Plant & Equipment 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
Goodwill 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
Intangible Assets 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
Long-Term Investments 195.0 894.2 881.0 829.0 791.5 810.8 720.6 713.3 674.4 548.9 589.3 542.1 628.2 431.3 540.3 139.7 41.3 168.6 162.6 153.8 0 0 13.7 49.3 57.6 0 35.7 19.5 8.7 23.7 15.3 10.3 0 0 0 0 0 0 0 628.0 648.6 374.0 373.2 203.6
Other Non-Current Assets 9,706.7 8,796.2 8,326.7 8,735.4 7,765.2 7,224.9 8,104.9 8,309.4 8,304.3 8,450.0 8,191.2 8,438.6 8,482.8 8,849.6 8,902.9 9,125.2 8,515.6 7,863.8 7,276.4 7,556.5 6,893.7 6,574.0 6,442.3 6,389.0 6,492.6 6,400.5 6,118.8 5,449.4 5,187.5 4,928.9 4,828.7 4,867.1 4,118.3 0 0 0 0 0 0 (628.0) (648.6) (374.0) (373.2) (203.6)
Total Non-Current Assets 9,901.7 9,690.3 9,207.7 9,564.4 8,556.7 8,035.7 8,825.5 9,022.7 8,978.7 8,998.9 8,780.5 8,980.7 9,111.0 9,280.9 9,443.2 9,264.9 8,556.9 8,032.4 7,439.0 7,710.4 6,893.7 6,574.0 6,455.9 6,438.3 6,550.2 6,400.5 6,154.6 5,468.9 5,196.2 4,952.6 4,844.0 4,877.4 4,118.3 0 0 0 0 0 0 628.0 648.6 374.0 373.2 203.9
Total Assets 10,087.0 9,901.0 9,519.1 9,817.0 8,784.2 8,411.6 9,098.1 9,272.4 9,225.0 9,296.7 9,157.0 9,360.4 9,508.2 9,568.4 9,824.0 9,552.9 8,817.0 8,416.7 7,717.8 7,954.4 7,225.4 6,940.0 6,932.6 6,969.5 7,174.2 6,888.4 6,352.4 5,624.4 5,341.6 5,095.8 4,974.5 4,981 4,242.2 4,088.6 3,932.9 3,826.5 3,808.6 3,483.0 3,198.9 2,979.1 2,856.5 539.4 520.6 335.1
Current Liabilities
Account Payables 33.6 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 24.5 8.6 0.7 1.1 0.3
Short-Term Debt 6,494.4 701.1 798.7 1,889.5 1,243.3 1,004.2 1,252.0 1,245.8 701.3 864.2 934.5 365.3 231.9 451.6 765.0 1,070.0 759.3 1,240.6 1,583.6 1,024.7 819.7 501.6 47.2 131.8 167.6 813.0 335.6 661.0 683.9 779.4 829.1 528.4 0 0 0 0 0 0 319.3 0 0 0 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 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 0 0 0 0 0 0 0 0 0 0 0 0 79.1 73.1 77.6 0 0 (319.3) (46.9) (46.9) (7.1) (7.1) 11.4
Total Current Liabilities 6,573.9 701.1 798.7 1,889.5 1,243.3 1,004.2 1,252.0 1,245.8 701.3 864.2 934.5 365.3 231.9 451.6 765.0 1,070.0 759.3 1,240.6 1,583.6 1,024.7 819.7 501.6 47.2 131.8 167.6 813.0 335.6 661.0 683.9 779.4 829.1 528.4 0 79.1 73.1 77.6 0 0 0 180.6 167.1 17.1 17.1 11.7
Non-Current Liabilities
Long-Term Debt 1,663.3 7,216.9 6,725.6 5,926.4 5,571.7 5,386.0 5,865.7 5,871.2 6,311.3 6,090.6 5,794.4 6,603.8 6,725.8 6,518.6 6,257.0 5,972.8 5,673.5 4,769.1 3,718.8 4,518.9 4,025.3 4,052.1 4,466.9 4,342.0 4,422.0 3,314.9 3,255.2 2,171.9 2,016.7 1,692.1 1,537.9 2,019.6 1,798.7 1,915.7 1,750.5 1,581.9 1,812.4 1,474.8 1,054.3 1,581.4 1,449.2 323.7 306.4 128.1
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 0 0 0
Other Non-Current Liabilities 38.1 126.9 132.6 154.6 108.6 146.9 112.0 158.3 165.0 133.2 216.3 176.3 203.0 243.6 394.4 236.9 133.2 112.4 109.0 116.1 104.6 115.7 99.1 130.1 183.7 130.5 132.1 120.1 101.2 114.5 89.1 90.4 95.9 (1,915.7) (1,750.5) (1,581.9) (1,812.4) (1,474.8) (1,054.3) (1,581.4) (1,449.2) (323.7) (306.4) 0
Total Non-Current Liabilities 1,701.4 7,343.8 6,858.2 6,081.0 5,680.3 5,532.9 5,977.7 6,029.5 6,476.3 6,223.8 6,010.7 6,780.1 6,928.8 6,762.2 6,651.3 6,209.6 5,806.7 4,881.5 3,827.8 4,635.1 4,129.9 4,167.9 4,566.1 4,472.2 4,605.7 3,445.4 3,387.3 2,292.0 2,117.9 1,806.7 1,627.0 2,110.0 1,894.6 0 0 0 0 0 0 1,467 1,332.3 323.7 306.4 128.1
Total Liabilities 8,275.3 8,044.9 7,656.9 7,970.6 6,923.6 6,537.1 7,229.7 7,275.3 7,177.6 7,088.0 6,945.2 7,145.4 7,160.7 7,213.8 7,416.3 7,279.6 6,566 6,122.1 5,411.4 5,659.8 4,949.6 4,669.5 4,613.3 4,604.0 4,773.3 4,258.4 3,722.9 2,953.0 2,801.8 2,586.1 2,456.1 2,638.3 1,894.6 2,000.5 1,835.4 1,663.8 1,879.6 1,550.8 1,451.9 1,647.6 1,499.4 340.8 323.5 139.8
Stockholders' Equity
Common Stock 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.4 1.5 1.5 1.5 1.5 1.5 1.4 1.3 1.3 1.2 1.2 1.1 1.1 1.1 0.9 0.9 0.8 0.7 0.7 0.1 0.1 0.1
Retained Earnings (861.3) (849.7) (840.2) (852.6) (835.0) (822.7) (824.8) (695.1) (678.4) (520.2) (512.9) (505.4) (368.5) (363.9) (306.2) (436.0) (453.8) (427.9) (411.6) (419.1) (433.6) (438.7) (422.1) (417.2) (421.3) (196.9) (193.5) (147.7) (132.8) (130.2) (113.6) (106.7) (97.9) (83.1) (67.2) (75.2) (53.0) (48.1) (55.0) (77.9) (51.0) (5.0) (4.2) (2.2)
Accumulated Other Comprehensive Income 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 (3.6) (3.8) (2.7) (2.7) (2.3) 4.4 2.3 (1.1)
Total Stockholders' Equity 1,811.7 1,856.1 1,862.2 1,846.4 1,860.6 1,874.5 1,868.4 1,997.0 2,047.4 2,208.7 2,211.8 2,215.0 2,347.6 2,354.5 2,407.7 2,273.3 2,251.0 2,294.6 2,306.4 2,294.6 2,275.8 2,270.5 2,319.3 2,365.5 2,400.9 2,630.0 2,629.5 2,671.4 2,539.8 2,509.7 2,518.4 2,342.7 2,347.5 2,088.1 2,097.6 2,162.7 1,929.0 1,932.2 1,747.0 1,331.5 1,357.0 198.6 197.1 195.3
Total Liabilities & Equity 10,087.0 9,901.0 9,519.1 9,817.0 8,784.2 8,411.6 9,098.1 9,272.4 9,225.0 9,296.7 9,157.0 9,360.4 9,508.2 9,568.4 9,824.0 9,552.9 8,817.0 8,416.7 7,717.8 7,954.4 7,225.4 6,940.0 6,932.6 6,969.5 7,174.2 6,888.4 6,352.4 5,624.4 5,341.6 5,095.8 4,974.5 4,981 4,242.2 4,088.6 3,932.9 3,826.5 3,808.6 3,483.0 3,198.9 2,979.1 2,856.5 539.4 520.6 335.1
Debt Metrics
Total Debt 8,157.7 7,918.0 7,524.3 7,815.9 6,815.0 6,390.2 7,117.7 7,117.0 7,012.6 6,954.8 6,728.9 6,969.1 6,957.7 6,970.3 7,022.0 7,042.7 6,432.8 6,009.7 5,302.4 5,543.6 4,845.0 4,553.8 4,514.1 4,473.9 4,589.6 4,127.9 3,590.8 2,832.9 2,700.6 2,471.5 2,367.0 2,547.9 1,798.7 1,915.7 1,750.5 1,581.9 1,812.4 1,474.8 1,373.6 363.5 365.6 323.7 306.4 128.1
Net Debt 8,030.8 7,778.2 7,278.5 7,638.3 6,648.5 6,072.8 6,923.4 6,942.3 6,851.4 6,729.4 6,421.1 6,661.0 6,626.1 6,748.2 6,702.7 6,801.1 6,217.1 5,666.6 5,059 5,339.0 4,550.9 4,228.3 4,075.9 3,986.7 4,007.5 3,675.6 3,429.9 2,716.4 2,591.3 2,361.7 2,267.9 2,471.6 1,700.4 1,838.1 1,610.2 1,310.2 1,614.8 1,211.3 1,056.6 324.8 342.5 309.5 300.9 (1.9)
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 26.2 29.2 50.8 20.7 26.0 40.7 (91.5) 35.8 (105.4) 45.2 45.1 (84.4) 47.9 (4.0) 182.1 70.0 14.3 37.1 60.4 67.7 58.3 36.7 49.3 60.2 (127.8) 71.9 29.1 61.4 67.8 53.0 62.2 55.3 49.4 41.3 68.4 36.2 47.1 59.0 69.9 10.3 18.6
Depreciation & Amortization (4.6) (15.1) 2.8 (6.0) 2.5 2.4 2.3 2.3 4.7 1.0 1.0 2.2 4.0 (24.1) 0 0 0.7 1.1 1.1 3.6 0 (48.9) 0 0 (15.0) (69.6) 0 0 (16.1) (53.1) 0 0 (13.2) (41.4) 0 0 (2.3) (6.1) 0 0 (1.1)
Stock-Based Compensation 3.0 3.4 3.4 3.4 3.4 4.0 4.2 4.2 0 0 0 0 0 4.5 0 0 0 4.5 4.4 4.4 4.4 4.1 4.2 4.3 4.3 8.8 3.9 4.3 (1.1) 2.1 4.0 4.0 (1.4) 3.4 2.6 3.5 1.5 1.7 1.6 1.9 (0.7)
Change in Working Capital 8.1 (16.5) 11.2 32.9 (0.7) (68.9) 7.8 (0.1) (0.2) (21.4) 25.2 (16.3) 11.3 (13.7) 66.6 (1.7) 22.1 (2.5) 5.1 28.7 0.7 0.8 4.0 (6.0) (6.1) 2.3 4.2 (2.9) (2.5) (9.2) (6.0) 7.6 (0.6) 22.5 (14.1) (3.6) (18.5) (4.8) (3.6) (5.9) (18.1)
Other Non-Cash Items (20.2) 7.3 (36.4) 12.2 8.2 71.9 124.5 8.1 153.8 6.0 12.1 147.8 47.1 80.0 (123.0) (18.6) 12.5 (5.7) (27.1) (27.3) (19.5) 9.5 2.0 (59.1) 183.7 5 41.2 (10.1) 3.5 (1.1) (10.7) 16.4 55 2.2 (14.9) 9.7 1.2 1.4 (33.2) 25.1 0.9
Operating Cash Flow 12.6 8.2 31.7 63.2 39.3 49.9 47.2 50.2 52.8 30.8 83.4 49.3 110.2 42.6 125.7 49.8 49.7 34.5 43.9 77.0 43.9 51.0 59.6 (0.6) 54.1 85.1 78.4 52.7 57.2 44.8 49.5 83.3 88.3 41.4 42.0 45.7 25.7 39.1 34.6 31.5 13.6
Investing Activities
Capital Expenditure (12.8) (18.4) (24.5) (32.5) (24.9) (46.2) (44.9) (40.4) (37.9) (25.4) (17.8) (15.3) (14.1) (11.9) (21.1) (0.0) (0.0) (0.1) (0.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 189.8 0 0
Purchases of Investments (0.9) (0.6) (1.2) (0.9) (3.3) 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 0.9 0 (0.0) (0.9) 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 (117.4) 0 0 0 0 29.2 0 0.4 0 0 0 0 0 0 0 0 0 0 0 0 179.4 71.1 172.2 70.0 32.8 113.9 8.9 13.2
Other Investing Activities (225.9) (427.0) 339.8 (764.3) (429.6) 632.5 251.3 (8.4) (128.8) (131.4) 133.0 38.2 101.2 313.6 (168.3) (756.5) (577.8) (593.1) 220.0 (718.4) (299.1) (13.9) 7.1 114.2 (323.1) (203.5) (721.5) (267.2) (243.0) (91.5) 45.5 (797.8) (155.1) (392.3) (271.4) (113.2) (436.5) (381.2) 1,568.0 (120.1) (196.3)
Investing Cash Flow (226.7) (446.0) 314.1 (797.7) (457.7) 586.3 206.4 (48.9) (166.7) (156.9) 115.2 22.9 87.1 184.4 (189.3) (756.5) (577.9) (593.2) 249.2 (714.2) (298.7) (13.9) 7.1 114.2 (323.1) (203.5) (721.5) (267.2) (243.0) (91.5) 45.5 (797.8) (155.1) (211.9) (200.4) 58.9 (367.3) (348.4) 1,681.9 (111.2) (183.1)
Financing Activities
Net Debt Issuance 275.3 352.9 (261.9) 769.5 293.3 (519.5) (218.6) 30.4 113.0 101.4 (143.9) (40.8) (26.6) (271.3) 45.7 786.5 468.5 720.5 (197.5) 749.8 286.4 (56.4) (12.7) (121.3) 512.1 492.4 764.1 160.3 255.0 118.5 (2.9) 766.0 (122.0) 115.6 175.3 (234.0) 340.2 124.9 (2.8) 134.3 165.0
Stock Repurchased (30.3) 0 0 0 0 (0.0) (2.9) 0 0 0 0 0 0 0 0 0 0 0 0 (4.3) 0 (36.2) (45.5) (43.8) (2.4) 0 0 0 0 0 0 0 0 (30.7) 0 0 0 125.5 0 0 0
Dividends Paid (38.7) (38.9) (37.8) (38.3) (38.5) (38.2) (52.4) (53.7) (53.9) (53.5) (53.5) (53.5) (53.7) (53.2) (53.2) (53.2) (53.3) (52.9) (53.2) (53.2) (53.3) (54.3) (56.8) (64.9) (75.3) (74.9) (74.9) (71.9) (69.6) (57.1) (69.1) (64.2) (64.2) (56.5) (58.8) (52.1) (52.3) (46.9) (37.3) (37.3) (38.7)
Other Financing Activities (5.6) 19.0 20.8 13.4 11.5 44.2 38.7 34.3 (10.7) (5.1) (0.4) (1.0) (12.6) (1.2) 154.1 (1.1) (10.5) (9.2) (3.6) (144.6) (9.7) (3.0) (0.6) 21.5 (35.5) (7.8) (1.6) (182.0) (0.1) (4.1) (0.2) (9.2) (2.3) 48.8 (89.5) (1.2) (4.5) 177.5 (1,460.5) (1.6) (1.2)
Financing Cash Flow 200.8 333.0 (278.9) 744.5 266.3 (513.5) (235.1) 11.0 48.3 42.8 (197.8) (95.4) (92.9) (325.7) 146.7 732.3 404.7 658.4 (254.2) 547.7 223.4 (149.8) (115.6) (208.5) 398.9 409.7 687.6 221.6 185.3 57.3 (72.2) 692.6 87.4 107.9 27.0 (38.4) 283.5 255.6 (1,500.5) 95.3 125.1
Cash Position
Net Change in Cash (13.0) (106.0) 68.2 11.2 (151.0) 123.1 19.6 13.5 (64.2) (82.4) (0.2) (23.5) 109.5 (97.2) 77.6 25.9 (127.4) 99.7 38.8 (89.5) (31.4) (112.7) (48.9) (95.0) 129.9 291.3 44.5 7.1 (0.5) 10.6 22.8 (21.9) 20.6 (62.6) (131.4) 128.8 (58.1) (53.6) 216.0 15.6 (44.4)
Cash at Beginning 139.8 245.9 177.6 166.4 317.4 194.3 174.7 161.2 225.4 307.8 308.1 331.5 222.0 319.3 241.6 215.7 343.1 243.4 204.6 294.1 325.5 438.2 487.2 582.1 452.3 160.9 116.5 109.3 109.8 99.2 76.4 98.3 77.7 140.3 271.7 142.9 201.0 254.6 38.6 23.0 67.4
Cash at End 126.8 139.8 245.9 177.6 166.4 317.4 194.3 174.7 161.2 225.4 307.8 308.1 331.5 222.0 319.3 241.6 215.7 343.1 243.4 204.6 294.1 325.5 438.2 487.2 582.1 452.3 160.9 116.5 109.3 109.8 99.2 76.4 98.3 77.7 140.3 271.7 142.9 201.0 254.6 38.6 23.0
Free Cash Flow (0.3) (10.1) 7.3 30.7 14.4 3.7 2.3 9.8 14.9 5.4 65.7 34.0 96.1 30.7 104.6 49.8 49.6 34.4 43.9 77.0 43.9 51.0 59.6 (0.6) 54.1 85.1 78.4 52.7 57.2 44.8 49.5 83.3 88.3 41.4 42.0 45.7 25.7 39.1 34.6 31.5 13.6
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 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2010 Q4 2010 Q3 2010 Q2 2010 Q1 2009 Q4
Income Statement
Revenue 172.6 182.7 167.1 186.8 173.9 195.5 76.8 214.9 214.3 215.2 214.2 133.8 213.8 171.7 213.0 142.7 113.9 111.0 109.6 94.5 106.5 72.0 102.9 97.9 123.9 122.8 132.5 106.4 127.4 112.1 109.7 108.0 83.8 46.2 86.8 81.5 73.6 81.2 85.5 35.4 32.0 32.5 31.9 30.2 31.2 27.1 23.9 28.4 21.6 20.9 17.3 15.8 16.0 12.3 16.2 14.0 12.4 11.5 8.1 7.7 7.2 6.5 4.5 5.1 3.9 0.6
Gross Profit 40.4 143.4 133.5 152.2 139.6 161.9 43.4 179.4 175.7 183.7 183.7 100.1 182.3 145.7 190.0 119.9 93.5 88 90.9 82.2 97.1 62.4 93.0 87.9 113.7 112.4 122.0 96.1 117.8 102.3 100.2 98.9 75.7 38.0 78.5 73.7 66.2 74.2 79.6 35.4 32.0 32.5 31.9 30.2 31.2 27.1 23.9 28.4 21.6 20.9 17.3 15.8 16.0 12.3 16.2 14.0 12.4 11.5 8.1 7.7 7.2 6.5 4.5 5.1 3.9 0.6
Operating Income 22.4 141.0 162.6 71.3 89.4 229.2 (19.1) 164.4 43.1 113.5 211.1 8.7 134.2 (3.3) 347.8 212.2 92.9 85.7 123.5 103.4 101.9 36.6 57.0 57.1 (90.7) 31.4 47.8 68.7 60.3 91.7 68.4 84.7 39.1 42.4 60.2 32.4 43.4 65.9 38.8 26.1 33.3 39.8 39.0 36.6 37.0 32.8 27.9 29.2 19.3 17.3 13.8 12.7 13 10.4 14.0 11.8 12.3 12.3 9.2 10.3 8.5 7.4 5.3 5.6 3.5 (2.1)
Net Income 26.2 29.2 50.8 20.7 26.0 40.7 (91.5) 35.8 (104.5) 46.5 46.1 (83.4) 48.9 (4.0) 183.0 71.0 15.2 37.1 60.4 67.7 58.3 36.7 49.3 60.2 (127.8) 71.9 29.1 61.4 67.8 53.0 62.2 55.3 49.4 40.3 67.7 35.6 46.5 58.2 69.5 10.3 18.6 27.2 25.8 24.7 25.5 22.0 19.2 24.0 17.6 15.9 12.9 11.8 11.9 9.0 12.2 9.9 9.1 8.7 5.5 6.5 5.2 4.0 2.4 2.9 1.7 (2.1)
EPS (Diluted) 0.16 0.18 0.34 0.12 0.16 0.27 -0.69 0.23 -0.76 0.30 0.30 -0.62 0.32 -0.06 1.13 0.44 0.08 0.23 0.38 0.42 0.37 0.23 0.31 0.36 -0.86 0.44 0.16 0.37 0.43 0.34 0.40 0.38 0.37 0.31 0.53 0.27 0.40 0.59 0.83 0.06 0.18 0.32 0.39 0.39 0.47 0.44 0.37 0.51 0.42 0.42 0.29 0.27 0.33 0.26 0.52 0.47 0.43 0.41 0.28 0.37 0.29 0.22 0.21 0.27 0.16 -0.20
Balance Sheet
Cash & Equivalents 126.8 139.8 245.9 177.6 166.4 317.4 194.3 174.7 161.2 225.4 307.8 308.1 331.5 222.0 319.3 241.6 215.7 343.1 243.4 204.6 294.1 325.5 438.2 487.2 582.1 452.3 160.9 116.5 109.3 109.8 99.2 76.4 98.3 77.7 140.3 271.7 197.6 263.5 317.0 38.6 23.0 14.3 5.5 130
Total Assets 10,087.0 9,901.0 9,519.1 9,817.0 8,784.2 8,411.6 9,098.1 9,272.4 9,225.0 9,296.7 9,157.0 9,360.4 9,508.2 9,568.4 9,824.0 9,552.9 8,817.0 8,416.7 7,717.8 7,954.4 7,225.4 6,940.0 6,932.6 6,969.5 7,174.2 6,888.4 6,352.4 5,624.4 5,341.6 5,095.8 4,974.5 4,981 4,242.2 4,088.6 3,932.9 3,826.5 3,808.6 3,483.0 3,198.9 2,979.1 2,856.5 539.4 520.6 335.1
Total Debt 8,157.7 7,918.0 7,524.3 7,815.9 6,815.0 6,390.2 7,117.7 7,117.0 7,012.6 6,954.8 6,728.9 6,969.1 6,957.7 6,970.3 7,022.0 7,042.7 6,432.8 6,009.7 5,302.4 5,543.6 4,845.0 4,553.8 4,514.1 4,473.9 4,589.6 4,127.9 3,590.8 2,832.9 2,700.6 2,471.5 2,367.0 2,547.9 1,798.7 1,915.7 1,750.5 1,581.9 1,812.4 1,474.8 1,373.6 363.5 365.6 323.7 306.4 128.1
Stockholders' Equity 1,811.7 1,856.1 1,862.2 1,846.4 1,860.6 1,874.5 1,868.4 1,997.0 2,047.4 2,208.7 2,211.8 2,215.0 2,347.6 2,354.5 2,407.7 2,273.3 2,251.0 2,294.6 2,306.4 2,294.6 2,275.8 2,270.5 2,319.3 2,365.5 2,400.9 2,630.0 2,629.5 2,671.4 2,539.8 2,509.7 2,518.4 2,342.7 2,347.5 2,088.1 2,097.6 2,162.7 1,929.0 1,932.2 1,747.0 1,331.5 1,357.0 198.6 197.1 195.3
Cash Flow
Operating Cash Flow 12.6 8.2 31.7 63.2 39.3 49.9 47.2 50.2 52.8 30.8 83.4 49.3 110.2 42.6 125.7 49.8 49.7 34.5 43.9 77.0 43.9 51.0 59.6 (0.6) 54.1 85.1 78.4 52.7 57.2 44.8 49.5 83.3 88.3 41.4 42.0 45.7 25.7 39.1 34.6 31.5 13.6
Capital Expenditure (12.8) (18.4) (24.5) (32.5) (24.9) (46.2) (44.9) (40.4) (37.9) (25.4) (17.8) (15.3) (14.1) (11.9) (21.1) (0.0) (0.0) (0.1) (0.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free Cash Flow (0.3) (10.1) 7.3 30.7 14.4 3.7 2.3 9.8 14.9 5.4 65.7 34.0 96.1 30.7 104.6 49.8 49.6 34.4 43.9 77.0 43.9 51.0 59.6 (0.6) 54.1 85.1 78.4 52.7 57.2 44.8 49.5 83.3 88.3 41.4 42.0 45.7 25.7 39.1 34.6 31.5 13.6