Baytex Energy Corp. logo BTE - Baytex Energy Corp.

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STRONG
BUY
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BUY 10
HOLD 3
SELL 3
STRONG
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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 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Revenue
Revenue 402.4 (1,333.7) 747.5 712.7 786.6 809.8 849.4 892.1 776.4 837.0 920.1 490.5 462.1 522.7 559.7 682.4 550.3 455.7 397.7 360.4 317.6 196.3 211.7 123.0 278.0 378.7 349.9 396.9 372.8 277.8 345.8 272.3 221.3 237.1 202.4 218.3 203.5 178.8 152.0 195.7 153.6 422.3 211.1 267.5 228.9 371.4 483.5 364.1 310.9 269.3 339.4 279.0 227.7 244.3 252.0 238.2 290.4 515.4 263.1 285.7 241.5 241.9 242.7 243.8 276.7 243.7 231.8 192.3 148.0 199.9 363.0 331.9 264.0 197.4 164.2 127.5 129.7 134.5 145.8 140.2 136.2 162.4 154.9 118.4 111.3 202.1 64.9 104.5 96.1 77.9 79.3 100.6 91.5 64.8 84.8 78.7 74.9 93.1 67.8 50.5
Cost of Revenue 310.5 (869.0) 581.4 587.5 573.4 596.2 616.9 627.5 617.6 657.1 575.3 367.7 360.1 343.2 316.0 329.4 298.5 275.0 248.4 219.5 211.6 196.9 206.8 191.9 318.5 321.8 306.5 328.3 321.7 336.9 255.3 213.2 204.4 213.2 208.8 234.2 208.2 202.8 187.0 226.0 255.1 741.4 178.4 184.9 199.7 198.0 207.6 139.3 133.5 127.5 107.6 128.0 124.7 136.6 101.5 104.8 120.0 328.9 110.0 117.7 111.6 132.9 120.8 127.3 141.7 131.1 116.7 106.8 98.7 (82.8) 176.3 163.3 151.0 78.7 73.0 59.4 55.2 121.3 35.2 49.8 51.5 16.9 32.8 24.2 25.6 10.1 26.7 21.4 21.3 22.1 21.0 19.8 18.5 20.9 21.1 17.8 17.8 15.8 11.8 8.4
Gross Profit 91.9 (464.7) 166.1 125.2 213.2 213.6 232.5 264.6 158.7 179.9 344.8 122.9 102.0 179.4 243.7 353.1 251.8 180.7 149.3 140.9 106.0 (0.6) 4.8 (68.9) (40.6) 56.9 43.4 68.6 51.1 (59.1) 90.5 59.0 16.9 23.9 (6.4) (15.9) (4.7) (24.0) (35.0) (30.2) (101.5) (319.1) 32.7 82.7 29.2 173.4 275.9 224.8 177.4 141.8 231.8 151.0 103.0 107.8 150.5 133.5 170.3 186.6 153.1 168.0 129.9 109.0 121.9 116.5 135.0 112.6 115.1 85.5 49.3 282.6 186.7 168.5 112.9 118.8 91.2 68.1 74.6 13.3 110.5 90.4 84.8 145.5 122.1 94.2 85.6 191.9 38.2 83.1 74.9 55.8 58.3 80.8 73.0 43.9 63.6 60.8 57.1 77.3 56 42.1
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 0 0 0 0 0 0 0 0 0 0 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 45.3 10.3 31.5 23.9 26.2 20.9 20.2 26.6 32.0 18.5 35.1 32.1 21.6 33.7 14.9 14.6 15.6 14.5 12.5 13.4 11.7 10.1 10.6 10.4 12.5 11.9 13.3 16.6 20.0 18.6 17.4 14.6 14.9 12.8 13.5 19.7 17.1 12.8 17.3 16.2 18.6 8.7 17.2 23.8 25.1 21.5 23.6 22.5 19.8 17.2 19.6 20.4 20.6 20.1 19.7 23.5 18.0 18.6 19.4 16.0 19.1 12.4 10.5 11.7 13.6 14.5 8.3 8.1 10.4 9.2 9.1 9.9 9.2 8.6 8.0 7.5 7.4 8.1 6.6 13.3 4.7 24.2 6.4 8.5 15.8 24.4 7.2 10.2 9.5 2.7 2.4 (0.5) 1.8 (1.5) 2.3 2.1 3.1 1.9 1.4 1.4
Other Expenses 0 (277.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2 (0.2) 0 0 0 0 0 0 0 0 0 0 (1.7) 0 (1.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 45.3 (267.5) 31.5 23.9 26.2 20.9 20.2 26.6 32.0 18.5 35.1 32.1 21.6 33.7 14.9 14.6 15.6 14.5 12.5 13.4 11.7 10.1 10.6 10.4 12.5 11.9 13.3 16.6 20.0 18.6 17.4 14.6 14.9 12.8 13.5 19.7 17.1 12.8 17.3 19.6 21.7 (238.0) 99.2 109.6 116.8 140.8 121.0 103.6 100.9 90.3 96.1 93.1 91.1 84.6 93.9 98.5 92.8 94.3 86.1 75.9 79.2 84.8 75.3 83.3 75.7 101.0 55.9 52.2 69.6 70.4 70.4 60.8 59.7 62.7 59.5 50.0 48.8 48.8 44.9 50.0 42.9 65.8 47.2 50 59.0 67.7 46.0 48.9 49.5 43.1 25.9 25.9 29.1 269.6 33.7 26.9 28.4 27.2 21.6 15.3
Operating Income
Operating Income 46.6 (197.2) 134.6 101.3 187.0 192.7 212.4 238.0 126.7 161.4 309.6 90.7 80.4 145.7 228.8 338.5 236.2 166.2 136.9 127.5 94.3 (10.7) (5.8) (79.3) (53.0) 45.0 30.1 52.0 31.1 (77.6) 73.1 44.5 2.0 11.1 (19.9) (35.6) (21.8) (36.8) (52.2) (51.1) (124.0) (83.1) (66.4) (26.9) (87.6) 32.9 154.6 121.2 76.5 51.4 135.7 55.8 11.9 23.2 56.6 34.9 75.9 99.8 65.3 88.5 48.5 41.7 64.9 33.1 59.4 34.5 59.3 33.3 (20.3) 360.2 56.8 179.5 60.8 86.2 18.3 5.5 23.6 (92.2) 77.4 37.7 50.3 95.5 94.3 61.2 115.5 207.7 (4.5) 86.5 81.9 (25.8) 89.2 73.1 43.5 (212.8) 46.4 48.8 43.3 67.0 45.5 34.7
Interest Expense 4.2 94.2 43.9 44.9 34.5 18.8 53.2 61.8 56.3 59.7 46.4 22.7 14.0 15.7 15.4 23.2 21.1 22.9 24.5 24.3 25.2 25.9 26.2 28.1 28.5 25.4 28.4 29.1 29.3 31.8 26.3 25.5 24.5 29.3 24.5 25.9 25.2 26.3 25.8 24.8 26.8 25.9 25.4 25.2 27.8 26.9 29.3 15.8 10.8 10.4 22.1 0 0 0 12.9 11.8 8.7 18.4 8.7 9.1 8.4 5.4 7.3 7.9 6.1 6.8 13.7 9.5 8.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 6.5 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.3 0 0 0 0 0 12.7 9.3 8.6 1.7 (0.8) (0.0) 7.6 0 0 (2.1) (1.6) (1.4) (1.5) (1.5) 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 0 0 0 0 0 0 0
Profitability
EBITDA 175.7 (688.3) 470.2 430.7 510.7 530.1 573.7 596.4 476.4 553.6 633.4 271.1 251.3 308.3 376.0 484.6 379.9 303.1 267.0 233.8 198.5 85.6 102.0 27.0 130.0 233.6 214.1 241.9 220.3 119.2 220.8 159.4 112.6 125.8 116.8 146.2 148.9 (361.9) 88.3 18.8 17.7 80.6 (334.4) 146.4 86.5 209.3 326.6 171.9 167.6 143.4 195.1 147.3 90.4 106.5 128.3 105.5 148.2 171.8 128.7 144.9 105.2 110.1 86.3 94.3 82.4 101.5 117.9 89.7 34.9 421.4 177.6 230.5 111.2 140.3 83.2 48.0 65.0 5.2 116.0 74.5 88.9 137.5 135.6 103.1 159.1 253.8 37.1 127.9 124.7 14.9 64.3 100.5 70.8 46.2 77.9 73.6 68.6 75.4 65.7 48.6
EBIT 46.6 (220.8) 134.6 101.3 187.0 192.7 212.4 238.0 126.7 161.4 309.6 90.7 80.4 145.7 228.8 338.5 236.2 166.2 136.9 127.5 94.3 (10.7) (5.8) (79.3) (53.0) 45.0 30.1 52.0 31.1 (77.6) 73.1 44.5 2.0 11.1 (2.2) 12.4 24.3 (490.8) (31.3) (111.2) (22.1) (600.2) (585.5) (15.1) (173.2) (281.9) 215.2 72.3 79.1 54.0 120.7 60.8 23.3 37.1 50.7 258.8 69.4 88.6 86.0 137.4 7.6 41.7 35.4 45.4 34.5 34.5 59.3 33.3 (20.3) 212.2 116.4 107.7 53.2 56.0 31.7 18.0 25.7 (35.5) 65.6 40.4 41.9 79.7 76.3 26.7 16.7 124.3 35.0 34.3 24.7 12.7 37.6 54.9 43.9 (225.6) 29.9 33.9 28.7 50.1 34.4 26.8
Income Before Tax (104.2) (464.4) 47.1 174.9 89.8 21.6 214.7 133.1 3.4 (797.6) 175.7 36.6 68.1 390.8 281.5 222.0 (9.6) 576.0 43.4 1,108.2 (29.8) 322.1 (22.3) (116.9) (2,761.8) (175.5) 16.8 78.1 (2.6) (280.1) 23.0 (83.9) (85.7) (25.0) (27.6) (14.8) (2.1) (518.3) (58.2) (136.0) (49.0) (627.8) (609.5) (39.8) (200.7) (308.8) 185.7 56.5 68.2 43.4 110.1 50.2 14.0 26.6 39.5 249.5 60.7 70.2 75.6 124.6 (0.9) 36.3 39.3 25.3 53.2 27.7 45.5 23.7 (28.5) 56.4 167.7 27.7 37.0 17.1 35.8 21.9 19.5 14.6 45.1 34.5 24.4 52.2 47.1 19.3 (37.1) 33.7 (15.1) (16.0) (20.8) 1.3 23.4 28.7 39.3 (247.9) 5.1 13.4 10.1 28.9 20 16.8
Income Tax Expense (24.3) 65.4 15.1 22.6 20.6 60.1 29.8 29.3 17.5 (171.7) 48.7 (176.9) 16.6 41.1 19.0 41.1 (66.3) 8.4 10.7 56.5 5.5 100.4 1.0 21.0 (280.8) (54.5) 1.6 (1.1) (13.9) (49.6) (4.4) (24.7) (23.0) (102.2) (18.4) (24.1) (13.2) (156.3) (18.8) (49.1) (49.6) (214.9) (91.7) (12.9) (24.7) 53.0 41.3 19.7 20.4 12.2 22.8 14.0 3.8 (5.1) 12.8 92.3 17.8 12.4 23.8 17.7 (1.8) (21.3) 4.2 (7.8) 1.3 (0.3) 4.9 (3.7) (20.0) 3.9 29.1 (7.6) 0.0 (25.5) (2.0) (10.1) (5.0) (7.7) 2.2 (22.8) (4.4) 13.5 8.0 0.0 (19.8) (8.4) (2.5) (4.9) (16.5) (7.6) (18.4) 16.0 18.0 (107.8) 1.4 7.8 5.8 11.6 7.8 6.8
Net Income (67.5) (856.4) 32.0 152.3 69.2 (38.5) 184.9 103.8 (14.1) (625.9) 127.0 213.5 51.4 349.7 262.5 180.9 56.8 567.5 32.7 1,051.7 (35.3) 221.7 (23.4) (137.9) (2,481.1) (121.0) 15.2 79.1 11.4 (230.5) 27.5 (59.2) (62.7) 77.1 (9.2) 9.3 11.1 (362.1) (39.4) (86.9) 0.6 (412.9) (517.9) (27.0) (175.9) (361.8) 144.4 36.8 47.8 31.2 87.3 36.2 10.1 31.6 26.8 157.3 43.0 57.8 51.8 106.9 0.9 57.6 35.1 33.0 52.0 28.0 40.7 27.5 (8.5) 52.4 137.2 34.4 35.8 41.4 36.7 31.0 23.8 20.0 42.0 56.2 28.9 39.7 38.2 18.8 (16.8) 41.8 (12.6) (11.2) (4.3) 8.9 41.8 12.8 21.4 (140.1) 3.7 5.5 15.4 17.3 12.2 10
Per Share Data
EPS (Basic) -0.09 -1.11 0.04 0.20 0.09 -0.05 0.23 0.13 -0.02 -0.75 0.15 0.37 0.09 0.65 0.48 0.32 0.10 0.98 0.06 1.87 -0.06 0.39 -0.04 -0.25 -4.46 -0.21 0.03 0.14 0.02 -0.42 0.07 -0.25 -0.27 0.32 -0.04 0.04 0.05 -1.66 -0.19 -0.41 0.00 -1.96 -2.49 -0.13 -1.04 -2.16 0.87 0.27 0.38 0.25 0.70 0.29 0.08 0.26 0.22 1.32 0.36 0.50 0.45 0.92 0.01 0.51 0.31 0.30 0.47 0.26 0.38 0.26 -0.09 0.55 1.44 0.39 0.42 0.51 0.44 0.41 0.32 0.27 0.57 0.77 0.41 0.59 0.57 0.28 -0.25 0.74 -0.20 -0.18 -0.07 0.15 0.78 0.24 0.41 -2.76 0.08 0.12 0.34 0.38 0.29 0.28
EPS (Diluted) -0.09 -1.11 0.04 0.20 0.09 -0.05 0.23 0.13 -0.02 -0.75 0.15 0.36 0.09 0.64 0.47 0.32 0.10 0.98 0.06 1.85 -0.06 0.39 -0.04 -0.25 -4.46 -0.21 0.03 0.14 0.02 -0.42 0.07 -0.25 -0.27 0.32 -0.04 0.04 0.05 -1.66 -0.19 -0.41 0.00 -1.96 -2.49 -0.13 -1.04 -2.16 0.86 0.27 0.38 0.25 0.70 0.29 0.08 0.26 0.22 1.30 0.36 0.49 0.44 0.90 0.01 0.49 0.30 0.29 0.46 0.26 0.37 0.26 -0.09 0.54 1.37 0.36 0.40 0.47 0.41 0.38 0.29 0.25 0.52 0.71 0.37 0.54 0.50 0.26 -0.24 0.71 -0.19 -0.18 -0.07 0.15 0.76 0.24 0.40 -2.74 0.08 0.12 0.34 0.36 0.28 0.27
Shares Outstanding 747.2 769.2 768.3 768.7 771.4 805.3 805.3 814.2 821.7 834.4 855.3 583.4 545.1 544.9 553.4 567.0 565.3 575.9 564.2 564.2 562.1 561.2 561.1 553.9 559.8 558.2 557.9 556.6 555.4 551.0 375.4 235.0 232.3 237.8 230.7 234.2 234.0 216.2 207.5 210.7 210.7 210.2 207.7 203.8 168.6 167.5 166.2 135.6 125.9 125.0 124.2 123.3 122.5 121.4 120.5 119.4 118.6 116.2 116.4 115.6 114.4 112.9 111.7 110.9 110.1 106.1 107.4 105.5 98.1 94.9 95.6 88.5 85.3 81.6 83.1 76.6 75.5 74.1 73.7 72.5 70.7 67.2 67.3 66.9 66.6 56.9 62.8 62.8 62.7 58.5 53.5 52.9 52.1 50.8 45.8 45.8 45.8 45.4 42.1 35.7
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 2009 Q2 2009 Q1 2007 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2001 Q3 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1
Current Assets
Cash & Cash Equivalents 759.8 952.3 10.4 7.2 6.0 16.6 21.3 35.9 29.1 55.8 23.9 19.6 6.4 5.5 4.4 (7.2) (7.3) (7.8) (8.8) 1.4 (10.1) (11.1) (10.5) (12.0) (12.7) 5.6 (14.1) (15.1) (16.6) 0 45.2 0 0 0 0.5 2.4 3.1 2.7 0.9 0.4 0.5 3.0 0.6 10.2 2.0 0.7 0 16.0 32.5 53.7 19.4 142.4 4.1 11.4 0 0 83.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12.9 0.4 0 1.9
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 29.8 37.7 0 34.5 61.5 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 0 0 0
Net Receivables 195.5 135.1 324.3 363.5 391.9 387.3 375.9 429.1 422.1 338.4 538.0 369.8 231.8 200.9 251.7 326.4 282.7 173.4 177.5 165.2 157.4 107.5 97.4 101.8 107.7 173.8 171.3 157.4 181.4 111.6 178.2 142.3 110.6 112.8 105.5 112.4 122.2 112.2 99.6 88.0 77.8 151.6 159.6 137.2 119.2 98.3 81.2 42.1 43.2 48.6 42.4 57.7 52.7 51.9 44.2 46.3 44.0 38.4 58.5 47.1 33.3 27.9 23.5 19.2 19.3 22.8 25 25.4 31.2 30.5 7.8 7.8 11 6.5 3.6 3.7 4.9
Inventory 14.2 0 0 0 0 0 0 0 0 23.3 0 0 0.9 0 0 7.2 7.3 7.8 8.8 0 10.1 11.1 10.5 12.0 12.7 0 14.1 15.1 16.6 0 0 0 0 0 0 0 0 0 0 0 0 0.6 0.9 1.4 1.2 1.3 11.0 6.1 7.1 5.9 4.2 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
Other Current Assets 34.6 101.9 40.8 38.8 19.9 45.8 24.3 7.0 6.4 1 9.4 28.2 20.9 31.3 12.1 18.0 6.2 8.7 7.0 6.5 0.2 5.1 41.7 41.9 96.7 5.4 45.3 37.9 27.6 79.6 5.7 10.4 16.9 18.5 2.2 21.2 9.5 2.2 25.4 38.0 80.4 0.7 1.9 30.8 1.0 0 1.1 0.4 1.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 46.1 0 0 0 0 0 0 0 0 0 0.1 0.1
Total Current Assets 1,004.2 1,189.4 375.5 409.4 417.8 449.6 443.2 495.0 475.2 440.0 571.3 417.6 259.2 244.1 268.2 344.4 288.9 182.1 184.6 173.0 157.7 112.5 139.1 143.7 204.4 184.8 216.7 195.3 208.9 191.1 229.1 152.6 127.5 131.4 108.2 136.0 134.8 117.1 125.9 126.4 158.7 185.7 200.8 179.5 157.8 161.8 93.4 64.7 84.7 108.2 66.0 203.4 56.8 63.3 44.2 46.3 127.1 38.4 58.5 47.1 33.3 27.9 23.5 19.2 19.3 68.9 25 25.4 31.2 30.5 7.8 7.8 11 19.4 4 3.8 6.9
Non-Current Assets
Property, Plant & Equipment 2,017.8 1,945.3 7,034.6 6,942.3 7,185.2 7,075.6 6,928.3 6,895.6 6,850.0 6,746.0 8,145.6 7,964.9 4,866.7 4,802.5 4,590.3 4,465.8 4,546.0 4,652.6 4,269.4 4,265.1 3,173.7 3,288.5 3,003.1 3,107.5 3,199.0 5,729.3 6,013.9 6,023.6 6,150.2 6,186.1 6,261.8 4,324.3 4,305.6 4,240.8 4,245.3 4,441.6 4,565.3 4,477.0 4,868.9 4,962.0 5,034.3 1,716.5 1,658.6 1,663.8 1,581.3 1,613.5 1,255.1 832.9 853.6 843.1 866.5 833.2 932.3 893.6 1,218.5 1,224.9 810.0 791.0 767.9 730.9 424.8 390.5 378.6 361.3 358 344.1 489.3 474.2 464.2 413.3 144.8 119.1 109.4 79.8 59 45.2 35.6
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 37.8 37.8 37.8 37.8 37.8 37.8 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.2 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 3.7 0 0 0 0 0 0 0 0 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 Assets 168.3 161.7 50.2 51.6 54.5 56.3 242.7 380.4 184.6 61.7 0 0 0 0 4.1 0 0 0 0 0 0 0 0 1.4 0 0 3.3 3.4 0 0 0.5 0 0 0 0.1 4.5 2.3 0 1.0 0.9 4.9 2.6 3.2 2.5 0 0 (0.0) 12.2 15.0 7.8 8.4 8.4 8.7 7.9 20.2 8.6 19.9 0 0 0 0 0 0 0 0 0 (0.1) (0.1) 0 0 0 (0.1) 0.1 0.1 0.1 0.1 0.1
Total Non-Current Assets 2,256.9 2,153.3 7,225.9 7,142.6 7,406.8 7,310.1 7,171.0 7,276.0 7,242.3 7,020.9 8,374.9 8,199.8 4,920.9 4,859.7 4,655.4 4,465.8 4,547.3 4,652.6 4,269.4 4,265.1 3,180.7 3,295.6 3,017.3 3,124.1 3,236.7 5,729.3 6,017.2 6,026.9 6,150.2 6,186.1 6,262.3 4,324.3 4,305.6 4,240.8 4,245.5 4,446.0 4,567.6 4,477.0 4,870.0 4,962.8 5,039.2 1,907.0 1,700.4 1,704.5 1,622.8 1,651.7 1,292.8 845.1 868.7 850.9 874.9 841.5 941.0 901.5 1,238.7 1,233.5 829.9 791.0 767.9 730.9 424.8 390.5 378.6 361.3 358 344.1 489.2 474.1 464.2 413.3 144.8 119 109.5 79.9 59.1 45.3 35.7
Total Assets 3,261.1 3,342.7 7,601.4 7,552.0 7,824.6 7,759.7 7,614.2 7,770.9 7,717.5 7,460.9 8,946.2 8,617.4 5,180.1 5,103.8 4,923.6 4,810.1 4,836.2 4,834.6 4,454.0 4,438.2 3,338.4 3,408.1 3,156.4 3,267.8 3,441.0 5,914.1 6,233.9 6,222.2 6,359.2 6,377.2 6,491.3 4,476.9 4,433.1 4,372.1 4,353.6 4,582.0 4,702.4 4,594.1 4,995.9 5,089.3 5,197.9 2,092.7 1,901.2 1,884.0 1,780.6 1,813.5 1,386.2 909.8 953.4 959.1 941.0 1,044.9 997.8 964.8 1,282.9 1,279.8 957.0 829.4 826.4 778 458.1 418.4 402.1 380.5 377.3 413 514.2 499.5 495.4 443.8 152.6 126.8 120.5 99.3 63.1 49.1 42.6
Current Liabilities
Account Payables 303.9 236.2 554.1 538.3 582.1 512.5 584.7 617.2 626.1 477.3 677.9 614.8 269.2 227.3 268.4 309.2 257.7 190.7 195.2 200.4 178.2 156.0 179.5 167.2 209.8 207.5 212.4 227.7 236.7 258.1 317.1 165.1 155.8 144.5 140.1 128.4 142.1 113.0 120.2 139.7 228.6 0 0 180.5 0 0 89.4 62.1 73.3 80.1 85.9 109.6 92.6 79.0 84.9 108.3 80.4 80.8 86.1 78.6 49.9 44 38 22.6 24.4 26.8 36.5 55 73.5 62.9 17.1 18.2 28.5 41.2 15.8 7.9 12.5
Short-Term Debt 9.5 7.2 0 0 0 0 0 0 0 0 0 0 0 0 0 3.2 2.9 2.9 3.5 0 4.3 4.3 5.8 5.9 5.9 0 0 5.6 5.8 0 0 0 0 0 0 0 0 0 0 0 0 5.9 263.7 272.8 154.2 272.4 259.3 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 0.7 0
Deferred Revenue 0 0 0 0 0 0 0 0 18.5 0 33.9 13.0 0 0 0 0 0 11.1 11.7 11.8 11.7 11.8 10.9 10.9 11.0 11.6 (5.7) 0 0 2.0 2.1 2.3 2.5 2.6 3.8 5.6 7.6 9.5 10.1 0 0 0 0 95.2 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
Other Current Liabilities 131.0 86.6 59.6 35.3 50.6 34.5 53.6 61.2 50.0 67.3 12.8 2.9 12.9 57.7 59.5 236.0 285.0 131.1 191.3 186.9 101.2 22.5 4.1 13.9 (2.0) 8.7 0 (5.3) (5.7) 0 100.7 103.3 68.1 52.7 6.5 10.6 12.9 38.0 25.4 11.8 1.5 221.8 229.1 (50.2) 13.4 18.2 23.3 41.4 35.7 9.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (21.1) 0 0 0
Total Current Liabilities 466.9 329.9 642.1 604.2 662.8 573.7 645.8 686.9 708.0 558.0 742.5 654.9 286.8 288.5 331.6 551.6 548.4 338.7 405.2 403.1 299.8 198.9 206.1 203.9 230.5 233.5 218.1 233.6 242.6 260.1 417.8 268.3 223.8 197.2 146.7 139.1 155.0 151.0 145.6 151.5 230.1 227.7 492.8 486.3 328.5 443.4 372.0 103.5 109.0 89.2 85.9 109.6 92.6 79.0 84.9 108.3 80.4 80.8 86.1 78.6 49.9 44 38 22.6 24.4 26.8 36.5 55 73.5 62.9 17.1 18.2 28.5 20.1 15.8 8.6 12.5
Non-Current Liabilities
Long-Term Debt 87.8 94.9 1,982.1 2,094.0 2,165.5 2,257.2 2,259.8 2,440.8 2,437.8 2,411.1 2,629.3 2,528.2 955.2 930.6 1,087.2 1,133.2 1,293.3 1,384.5 1,537.8 1,580.8 1,727.8 1,788.9 1,810.2 1,915.9 1,935.1 1,833.6 1,927.5 1,955.1 2,117.3 2,103.9 2,003.3 1,746.7 1,722.7 1,686.3 1,697.3 1,787.1 1,814.0 1,754.1 1,822.2 1,868.1 1,807.6 491.9 150 150 217.1 234.2 195.8 241.2 235.8 232.6 203.3 304.1 327.0 328.3 456.5 435.4 329.1 213.9 212.9 212.3 118 116.4 115.5 117.7 119.4 157.1 191.5 159.6 136.7 98.6 6.1 26.5 9.9 0 15.4 9.6 0
Deferred Tax Liabilities 0 0 111.8 99.8 96.3 88.6 0 39.3 0 21.3 218.2 177.8 278.1 265.9 231.1 142.0 98.8 167.5 160.7 146.3 97.9 93.6 0 0 0 235.3 291.8 289.2 293.5 310.8 352.0 164.2 186.0 204.7 303.9 331.5 361.2 375.7 524.8 536.6 582.5 176.2 176.3 179.7 179.6 177.8 162.6 143.2 150.7 174.4 183.0 203.0 184.4 170.9 260.8 258.0 144.4 138.4 136.1 123.9 42.6 10.4 7.2 3.8 2.7 1.9 27.2 26.8 26.9 26.3 1.1 1.9 1.7 0.6 0.5 0.3 0.1
Other Non-Current Liabilities 519.2 515.0 655.3 651.0 677.8 653.8 713.0 627.8 655.3 629.3 607.1 643.5 571.7 585.3 546.8 563.8 653.9 732.6 698.1 711.1 675.6 748.6 751.2 706.4 643.4 656.4 689.4 681.1 680.9 957.7 915.6 544.2 558.1 573.7 671.8 725.7 757.0 707.2 856.1 873.0 896.4 57.7 55.9 7.9 51.3 51.7 46.0 59.1 57.4 23.5 30.8 33.2 34.1 40.7 21.0 20.9 16.9 17.0 16.3 17.1 17.2 17.3 13.3 16.4 13.7 11.7 11.4 11.1 10.7 10.2 0.5 0.5 0.5 0.4 0.1 0.1 0.2
Total Non-Current Liabilities 656.0 625.7 2,769.3 2,862.9 2,959.6 3,015.0 2,988.9 3,125.9 3,108.2 3,077.8 3,471.4 3,361.3 1,808.6 1,784.8 1,868.6 1,839.0 2,046.0 2,284.6 2,396.6 2,443.2 2,501.3 2,631.0 2,566.0 2,628.3 2,585.3 2,733.4 2,908.7 2,925.3 3,091.7 3,061.7 2,918.8 2,290.9 2,280.8 2,260.0 2,370.1 2,513.9 2,571.0 2,464.1 2,680.4 2,753.9 2,707.0 844.0 385.3 385.7 448.2 463.8 404.5 443.5 443.9 430.4 417.1 540.3 545.5 539.8 738.3 714.2 490.5 369.3 365.2 353.3 177.8 144.1 136 137.9 135.8 170.7 230.1 197.5 174.3 135.1 7.7 28.9 12.1 1 16 10 0.3
Total Liabilities 1,122.8 955.6 3,411.4 3,467.2 3,622.4 3,588.7 3,634.7 3,812.8 3,816.2 3,635.8 4,214.0 4,016.2 2,095.3 2,073.4 2,200.2 2,390.5 2,594.4 2,623.3 2,801.8 2,846.4 2,801.1 2,829.9 2,772.1 2,832.2 2,815.8 2,966.9 3,126.7 3,158.9 3,334.3 3,321.8 3,336.6 2,559.2 2,504.7 2,457.2 2,516.7 2,652.9 2,726.0 2,615.1 2,826.0 2,905.4 2,937.1 1,071.7 878.1 872.0 776.7 907.2 776.4 547.0 552.9 519.7 502.9 649.8 638.1 618.8 823.2 822.5 570.9 450.1 451.4 431.9 227.7 188.1 174 160.5 160.2 197.5 266.6 252.5 247.8 198 24.8 47.1 40.6 21.1 31.8 18.6 12.8
Stockholders' Equity
Common Stock 5,801.7 6,067.6 6,094.7 6,094.7 6,108.4 6,137.5 6,248.3 6,391.1 6,523.4 6,527.3 6,717.6 6,852.3 5,503.1 5,499.7 5,527.8 5,653.9 5,745.0 5,736.6 5,736.6 5,736.5 5,736.4 5,729.4 5,729.2 5,726.7 5,726.5 5,718.8 5,717.2 5,711.9 5,709.2 5,701.5 5,701.5 4,452.3 4,451.9 4,443.6 4,443.6 4,432.1 4,432.2 4,422.7 4,313.1 4,300.0 4,299.0 0 0 0 0 1,139.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings (4,189.3) (4,091.2) (3,220.4) (3,235.0) (3,369.3) (3,421.6) (3,365.5) (3,533.0) (3,618.7) (3,586.2) (2,942.0) (3,050.3) (3,263.9) (3,315.3) (3,668.1) (3,933.1) (4,114.1) (4,170.9) (4,734.2) (4,766.9) (5,819.9) (5,784.5) (6,005.7) (5,982.2) (5,843.8) (3,345.6) (3,227.8) (3,242.9) (3,321.8) (3,333.1) (3,101.9) (3,129.3) (3,070.5) (3,007.8) (3,083.8) (3,074.6) (3,083.9) (3,095.0) (2,735.5) (2,678.6) (2,591.7) (335.3) (308.4) (300.8) (285.0) (274.0) (239.5) (113.4) (74.0) (0.4) 36.3 (5.5) (38.5) (51.3) 64.1 61.8 58.1 52.6 48.2 31 18.8 19.8 14.9 10 7.3 5.7 42 41.5 42.4 41.4 8.7 8.1 7.7 5.5 3 2.5 2.1
Accumulated Other Comprehensive Income 13.2 13.3 927.9 837.4 1,084.8 1,093.3 791.9 853.5 801.5 690.9 821.2 709.2 755.6 756.2 780.0 662.9 604.0 632.1 637.9 611.8 611.9 619.0 646.4 676.7 730.2 556.2 600.0 574.7 620.1 667.9 540.2 579.6 535.4 463.1 464.1 549.5 611.7 629.9 573.0 552.7 546.7 (1.4) (9.0) (3.9) 9.0 18.8 0.8 16.7 15.5 (6.8) (1,056.9) (1,056.9) (1,056.9) (950.1) (458.4) 0 0 (458.4) (347.7) (347.7) (347.7) (347.7) (309.1) (309.1) (309.1) (309.1) (202.3) (202.3) (202.3) (202.3) (6.7) (6.7) (6.7) (6.7) (2.3) (2.3) (2.3)
Total Stockholders' Equity 2,138.3 2,387.1 4,190.0 4,084.9 4,202.2 4,171.0 3,979.4 3,958.1 3,901.3 3,825.1 4,732.2 4,601.2 3,084.7 3,030.4 2,723.4 2,419.6 2,241.8 2,211.3 1,652.1 1,591.8 537.3 578.2 384.3 435.7 625.2 2,947.2 3,107.1 3,063.2 3,024.8 3,055.4 3,154.7 1,917.7 1,928.4 1,914.9 1,836.9 1,929.1 1,976.4 1,979.0 2,169.9 2,183.9 2,260.8 1,021.1 1,023.1 1,012.0 1,004.0 906.3 589.9 362.8 400.5 439.5 438.0 395.1 359.7 346.0 459.7 457.3 386.1 379.3 375.0 346.1 230.4 230.3 225.1 220 217.1 215.5 247.6 247 247.6 245.8 127.8 79.7 79.9 78.2 31.3 30.5 29.8
Total Liabilities & Equity 3,261.1 3,342.7 7,601.4 7,552.0 7,824.6 7,759.7 7,614.2 7,770.9 7,717.5 7,460.9 8,946.2 8,617.4 5,180.1 5,103.8 4,923.6 4,810.1 4,836.2 4,834.6 4,454.0 4,438.2 3,338.4 3,408.1 3,156.4 3,267.8 3,441.0 5,914.1 6,233.9 6,222.2 6,359.2 6,377.2 6,491.3 4,476.9 4,433.1 4,372.1 4,353.6 4,582.0 4,702.4 4,594.1 4,995.9 5,089.3 5,197.9 2,092.7 1,901.2 1,884.0 1,780.6 1,813.5 1,386.2 909.8 953.4 959.1 941.0 1,044.9 997.8 964.8 1,282.9 1,279.8 957.0 829.4 826.4 778 458.1 418.4 402.1 380.5 377.3 413 514.2 499.5 495.4 443.8 152.6 126.8 120.5 99.3 63.1 49.1 42.6
Debt Metrics
Total Debt 146.2 117.9 2,013.3 2,125.4 2,198.2 2,281.9 2,283.5 2,467.2 2,466.3 2,440.6 2,664.2 2,564.4 963.5 937.2 1,094.4 1,136.4 1,296.2 1,387.5 1,541.3 1,589.9 1,732.1 1,793.2 1,815.9 1,921.8 1,941.0 1,847.5 1,933.1 1,960.7 2,123.1 2,103.9 2,003.3 1,746.7 1,722.7 1,686.3 1,697.3 1,787.1 1,814.0 1,754.1 1,822.2 1,868.1 1,807.6 497.8 413.7 422.8 371.3 506.6 455.1 241.2 235.8 232.6 203.3 304.1 327.0 328.3 456.5 435.4 329.1 213.9 212.9 212.3 118 116.4 115.5 117.7 119.4 157.1 191.5 159.6 136.7 98.6 6.1 26.5 9.9 0 15.4 10.3 0
Net Debt (613.6) (834.4) 2,002.9 2,118.2 2,192.3 2,265.3 2,262.2 2,431.4 2,437.2 2,384.7 2,640.3 2,544.8 957.0 931.7 1,090.0 1,143.7 1,303.5 1,395.2 1,550.0 1,588.5 1,742.2 1,804.2 1,826.4 1,933.7 1,953.7 1,841.9 1,947.2 1,975.8 2,139.7 2,103.9 1,958.1 1,746.7 1,722.7 1,686.3 1,696.7 1,784.7 1,810.9 1,751.4 1,821.3 1,867.7 1,807.2 494.8 413.1 412.6 369.4 506.0 455.1 225.2 203.3 178.8 183.9 161.7 322.9 316.8 456.5 435.4 246.1 213.9 212.9 212.3 118 116.4 115.5 117.7 119.4 157.1 191.5 159.6 136.7 98.6 6.1 26.5 9.9 (12.9) 15 10.3 (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 2005 Q3 2005 Q2 2005 Q1 2004 Q2 2004 Q1 2003 Q4 2003 Q3 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2002 Q2 2002 Q1 2001 Q4 2001 Q3 2001 Q2 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1
Operating Activities
Net Income (79.9) (529.7) 32.0 151.5 69.6 (38.5) 185.2 103.9 (14.0) (625.8) 127.4 213.6 51.4 352.8 265.0 181.0 56.9 563.2 32.7 1,053.0 (35.4) 221.2 (23.4) (138.5) (2,498.2) (117.8) 15.2 78.8 11.3 (231.2) 27.4 (58.8) (62.7) 76.0 (9.2) 9.3 11.1 (359.4) (39.4) (86.9) 0.6 38.2 18.8 (16.8) (11.2) (4.3) 8.9 (45.5) 41.8 32.9 12.8 3.7 21.4 7.3 (140.1) 2.4 3.7 4.3 17.3 12.2 10 4.9 5 2.6 1.6 (39) 0 0 1 7.9 0.5 0.4 2.2 2.5 0.5 0.4 0.9
Depreciation & Amortization 129.1 (651.3) 329.1 322.2 0 0 0 0 352.1 1,236.8 324.8 180.4 1.6 159.8 1.5 142.3 282.3 (368.0) 141.4 (940.9) 181.8 (243.8) 87.8 128.3 2,901.1 394.3 186.6 144.7 211.7 365.3 123.9 181.7 160.6 123.0 100.9 86.4 75.4 588.2 107.1 206.1 85.0 41.2 41.8 43.5 41.4 42.8 40.7 76.1 (25.0) 25.5 27.4 26.9 27.3 26.3 271.8 41.1 31.5 25.3 25.2 20.2 13.9 10.3 10.2 8.9 8.6 75.7 11.4 10.3 9.4 36.3 2.4 2.6 3.2 1.7 0.9 1 1
Stock-Based Compensation 0 0 0 0 0 0 0 0 9.5 0 14.7 16.2 9.8 0.4 3.1 2.9 3.9 2.9 2.5 2.8 3.0 0.7 2.9 3.0 2.8 1.6 3.4 5.0 5.8 4.5 7.2 3.9 3.9 2.9 2.5 5.6 4.5 0.3 5.2 3.9 4.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (26.4) 0.2 56.0 (9.0) (29.0) 13.4 20.8 (20.1) (32.0) (15.0) (126.1) (40.8) (39.1) 55.6 30.7 17.0 (77.3) 28.2 (17.6) (3.0) (34.2) (30.1) 16.4 8.6 53.9 7.4 (17.3) 16.3 (58.5) 63.1 (1.0) (29.2) 6.6 (5.7) 2.3 (10.4) 4.8 (35.3) 17.2 (25.6) 20.4 (6.1) 0.0 (17.5) 4.7 (4.8) 1.0 11.4 8.5 (22.9) (4.7) (53.3) 59.4 (19.9) 24.9 (5.6) 11.1 15.8 (14.2) (5.1) 4.1 (51.9) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Cash Items 124.0 1,464.5 34.9 (128.3) 372.1 451.2 310.4 399.0 52.4 61.2 55.2 1.2 145.6 (305.9) (5.9) (20.6) 2.8 (360.7) 152.2 (935.8) 183.3 (240.8) 97.7 132.3 2,907.8 397.3 192.6 149.1 213.1 382.5 125.0 183.2 162.7 124.2 100.8 89.1 72.7 588.6 120.6 210.3 87.0 (17.6) (8.7) 38.6 13.3 18.8 (16.4) (9.8) 36.8 (22.3) (0.6) 14.6 (14.9) 1.0 0.9 0.4 1.3 1.1 1.0 0.8 0.6 2.1 13.1 (1.1) 45 (8.2) (17.5) (13.6) 9.9 9.2 3.2 2 (4.1) (2.1) 0.2 (0.1) 0.4
Operating Cash Flow 122.5 226.4 472.7 354.3 431.3 468.9 550.0 505.6 383.8 474.5 444.0 192.3 184.9 303.4 310.4 360.0 199.0 240.6 179.0 171.9 121.0 51.0 93.7 25.8 182.6 235.0 195.0 247.6 157.4 169.1 154.1 74.5 87.6 96.3 77.9 70.2 80.7 39.2 88.9 55.0 64.4 61.3 49.9 26.1 40.8 33.9 23.1 31.4 41.9 31.8 48.4 (4.7) 108.6 20.2 49.3 40.7 46.9 50.3 37.8 33.7 34.1 (31.4) 31.7 11.5 56 0.8 (5.7) (3.3) 20.9 60 6.3 5.4 2.4 3.3 1.9 1.5 2.8
Investing Activities
Capital Expenditure (152.1) (142.9) (330.7) (358.0) (406.9) (211.9) (308.1) (344.2) (450.2) (235.6) (414.7) (171.3) (234.6) (105.1) (167.6) (97.1) (154.3) (75.8) (94.5) (61.8) (83.7) (78.1) (15.9) (11.2) (177.4) (154.2) (139.2) (109.2) (153.9) (184.6) (140.6) (79.3) (93.7) (89.9) (61.5) (84.0) (162.7) (67.9) (39.7) (35.5) (82.0) (110.9) (32.5) (28.5) (16.0) (29.2) (22.8) (43.2) (59.1) (61.6) (19.8) (77.6) 2.9 (87.6) (29.2) (33.9) (81.0) 0 156.3 (251.2) (33.7) (40.8) (26.8) (12.2) (14.6) (60.4) (33.4) (20.3) (60.4) (100.9) (30.2) (13) (33.6) (22.6) (14.6) (10.5) (10.1)
Acquisitions 27.6 3,013.7 0 0 2.3 0 0 0 0.0 159.7 0.2 (662.6) 0.2 0.4 25.5 (0.2) (0.0) 5.4 0.6 0.0 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 7.4 0.3 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 101.7 (0.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of 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 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Investing Activities 10.7 (117.6) 38.0 (1.9) 84.6 (54.6) (0.9) 5.0 85.7 (62.4) 67.2 15.1 27.0 (27.6) 9.8 (7.4) 34.6 (20.2) 1.7 16.9 6.5 (3.3) (0.3) (44.6) 16.4 (15.5) (11.4) (0.4) (33.7) (51.4) 70.4 5.9 10.0 6.0 16.1 6.1 9.5 25.2 11.9 (73.0) (31.2) (2.9) (3.2) 1.8 (13.1) 1.5 (9.0) (10.2) (16.1) 166.6 (49.1) 102.2 (97.9) 119.0 (65.5) (14.4) (130.9) (51.7) (189.1) 168.9 (2.6) 69.2 0.4 0 (7.9) 81.9 7.2 0 0 21.5 (2.7) (9.2) 7.9 3.9 7.8 (3.5) 0.6
Investing Cash Flow (115.6) 2,752.3 (292.7) (359.8) (320.1) (266.5) (309.0) (339.2) (364.5) (138.2) (347.3) (818.8) (207.4) (132.3) (132.4) (104.7) (119.7) (96.0) (92.8) (44.9) (77.2) (81.4) (16.3) (55.8) (161.0) (169.7) (150.7) (109.6) (187.6) (236.0) (70.2) (73.4) (83.7) (83.9) (38) (77.7) (153.1) (42.7) (27.7) (108.6) (113.2) (113.7) (35.8) (26.6) (29.1) (27.7) (31.8) (53.4) (75.2) 105.0 (68.9) 24.6 (94.9) 31.4 7.0 (48.8) (211.9) (51.7) (32.8) (82.3) (36.3) 28.4 (26.4) (12.2) (22.5) 21.5 (26.2) (20.3) (60.4) (79.4) (32.9) (22.2) (25.7) (18.7) (6.8) (14) (9.5)
Financing Activities
Net Debt Issuance (9.7) (1,995.0) (159.4) 34.5 (92.4) (137.5) (159.8) (31.4) (26.4) (175.6) 41.9 679.6 23.4 (152.4) (94.5) (191.1) (79.3) (144.6) (87.6) (125.6) (43.8) 30.4 (153.3) 30.0 (27.1) (9.3) (44.3) (138.0) 30.2 22.1 (38.3) (1.1) (3.9) (13.0) (74.9) 6.7 72.7 0 (123.3) 53.9 50.7 83.4 14.7 28.8 0 0 0 0 0 0 (0.0) (10.3) (14.3) (51.7) (55.4) 8.6 309.9 1.4 (5.4) 46.8 1 2.8 4.7 1.9 (45.2) (34.1) 31.9 23 38.1 1.9 (14.6) 27.3 6.7 4.6 5.8 9.6 (4.4)
Stock Repurchased (178.2) (12.2) 0 (4.1) (13.0) (53.7) (84.6) (80.9) (3.0) (132.7) (89.3) 0 (4.8) (17.7) (78.8) (62.5) 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (16.6) (17.2) (17.3) (17.3) (17.3) (17.6) (17.7) (18.2) (18.5) (18.4) (19.1) 0 (1.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Financing Activities 0.0 (12.4) 0 (6.4) 0.9 1.7 6.6 (29.1) 2.0 22.4 (25.9) (39.9) 0 (0.0) (0.3) (1.8) 0 0 0 0 0 0 75.9 0 0 (50.4) 0 0 0 (0.3) (0.4) 0 0 0 33.2 0 (0.8) (104.6) 62.6 0 0 (4.2) (29.4) (29.4) 0 0 (22.2) (0.1) (91.0) (1.1) 12.2 0 0 0 (0.1) (0.5) (228.2) 0 0.1 (0.2) 0.1 0 (10.2) (11.4) 11.7 5 0 0 0 (3) (7.5) (17.7) 0.9 (2.3) (0.2) 0 (0.8)
Financing Cash Flow (204.5) (2,036.8) (176.7) 6.7 (121.9) (207.1) (255.6) (159.6) (45.9) (304.3) (92.5) 639.7 23.4 (170.1) (173.6) (255.4) (79.3) (144.6) (87.6) (125.6) (43.8) 30.4 (77.4) 30.0 (27.1) (59.8) (44.3) (138.0) 30.2 21.7 (38.7) (1.1) (3.9) (13.0) (41.7) 8.6 71.9 5.3 (60.9) 53.9 50.7 52.5 (14.2) 0.5 (28.2) (27.4) 39.3 25.8 (89.7) 1.5 13.1 (8.5) (13.7) (51.6) (56.3) 8.1 82.0 1.4 (4.9) 48.5 2.2 3 (5.4) 0.7 (33.5) (22.3) 31.9 23.6 39.5 18.7 26.8 16.6 10.4 28.1 6 9.8 8.7
Cash Position
Net Change in Cash 749.4 941.9 3.3 1.2 (10.6) (4.7) (14.6) 6.7 (26.7) 31.9 4.3 13.2 1.0 1.1 4.4 0 0 0 (1.4) 1.4 0 0 0 0 (5.6) 5.6 0 0 0 (45.2) 45.2 0 0 (0.5) (1.8) (0.7) 0.3 1.8 0.5 (0.0) 0.2 (0.0) 0.0 0 (16.5) (21.2) 30.5 3.8 (123.0) 138.3 (7.3) 11.4 0 0 0 0 (83.0) 0 0.1 (0.1) 0 0 (0.1) 0 0 0 0 0 0 (0.7) 0.2 (0.2) (12.9) 12.5 1.1 (2.6) 2
Cash at Beginning 10.4 10.4 7.2 6.0 16.6 21.3 35.9 29.1 55.8 23.9 19.6 6.4 5.5 4.4 0 0 0 0 1.4 0 0 0 0 0 5.6 0 0 0 0 45.2 0 0 0 0.5 2.4 3.1 2.7 0.9 0.4 0.5 0.2 0 0 0 32.5 53.7 23.2 19.4 142.4 4.1 11.4 0 0 0 0 0 83.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12.9 0.4 (0.7) 1.9 (0.1)
Cash at End 759.8 952.3 10.4 7.2 6.0 16.6 21.3 35.9 29.1 55.8 23.9 19.6 6.4 5.5 4.4 0 0 0 0 1.4 0 0 0 0 0 5.6 0 0 0 0 45.2 0 0 0 0.5 2.4 3.1 2.7 0.9 0.4 0.5 (0.0) 0.0 0 16.0 32.5 53.7 23.2 19.4 142.4 4.1 11.4 0 0 0 0 0 0 0.1 (0.1) 0 0 (0.1) 0 0 0 0 0 0 (0.7) 0.2 (0.2) 0 12.9 0.4 (0.7) 1.9
Free Cash Flow (29.6) 83.5 142.0 (3.6) 24.4 257.0 241.9 161.4 (66.4) 238.9 29.3 21.0 (49.6) 198.4 142.8 262.9 44.7 164.8 84.5 110.1 37.3 (27.0) 77.7 14.6 5.2 80.8 55.7 138.4 3.5 (15.5) 13.5 (4.8) (6.1) 6.4 16.4 (13.8) (82.0) (28.7) 49.2 19.4 (17.7) (49.6) 17.4 (2.4) 24.8 4.7 0.3 (11.8) (17.2) (29.8) 28.7 (82.3) 111.5 (67.4) 20.1 6.8 (34.1) 50.3 194.1 (217.5) 0.4 (72.2) 4.9 (0.7) 41.4 (59.6) (39.1) (23.6) (39.5) (40.9) (23.9) (7.6) (31.2) (19.3) (12.7) (9) (7.3)
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 2009 Q3 2009 Q2 2009 Q1 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Income Statement
Revenue 402.4 (1,333.7) 747.5 712.7 786.6 809.8 849.4 892.1 776.4 837.0 920.1 490.5 462.1 522.7 559.7 682.4 550.3 455.7 397.7 360.4 317.6 196.3 211.7 123.0 278.0 378.7 349.9 396.9 372.8 277.8 345.8 272.3 221.3 237.1 202.4 218.3 203.5 178.8 152.0 195.7 153.6 422.3 211.1 267.5 228.9 371.4 483.5 364.1 310.9 269.3 339.4 279.0 227.7 244.3 252.0 238.2 290.4 515.4 263.1 285.7 241.5 241.9 242.7 243.8 276.7 243.7 231.8 192.3 148.0 199.9 363.0 331.9 264.0 197.4 164.2 127.5 129.7 134.5 145.8 140.2 136.2 162.4 154.9 118.4 111.3 202.1 64.9 104.5 96.1 77.9 79.3 100.6 91.5 64.8 84.8 78.7 74.9 93.1 67.8 50.5
Gross Profit 91.9 (464.7) 166.1 125.2 213.2 213.6 232.5 264.6 158.7 179.9 344.8 122.9 102.0 179.4 243.7 353.1 251.8 180.7 149.3 140.9 106.0 (0.6) 4.8 (68.9) (40.6) 56.9 43.4 68.6 51.1 (59.1) 90.5 59.0 16.9 23.9 (6.4) (15.9) (4.7) (24.0) (35.0) (30.2) (101.5) (319.1) 32.7 82.7 29.2 173.4 275.9 224.8 177.4 141.8 231.8 151.0 103.0 107.8 150.5 133.5 170.3 186.6 153.1 168.0 129.9 109.0 121.9 116.5 135.0 112.6 115.1 85.5 49.3 282.6 186.7 168.5 112.9 118.8 91.2 68.1 74.6 13.3 110.5 90.4 84.8 145.5 122.1 94.2 85.6 191.9 38.2 83.1 74.9 55.8 58.3 80.8 73.0 43.9 63.6 60.8 57.1 77.3 56 42.1
Operating Income 46.6 (197.2) 134.6 101.3 187.0 192.7 212.4 238.0 126.7 161.4 309.6 90.7 80.4 145.7 228.8 338.5 236.2 166.2 136.9 127.5 94.3 (10.7) (5.8) (79.3) (53.0) 45.0 30.1 52.0 31.1 (77.6) 73.1 44.5 2.0 11.1 (19.9) (35.6) (21.8) (36.8) (52.2) (51.1) (124.0) (83.1) (66.4) (26.9) (87.6) 32.9 154.6 121.2 76.5 51.4 135.7 55.8 11.9 23.2 56.6 34.9 75.9 99.8 65.3 88.5 48.5 41.7 64.9 33.1 59.4 34.5 59.3 33.3 (20.3) 360.2 56.8 179.5 60.8 86.2 18.3 5.5 23.6 (92.2) 77.4 37.7 50.3 95.5 94.3 61.2 115.5 207.7 (4.5) 86.5 81.9 (25.8) 89.2 73.1 43.5 (212.8) 46.4 48.8 43.3 67.0 45.5 34.7
Net Income (67.5) (856.4) 32.0 152.3 69.2 (38.5) 184.9 103.8 (14.1) (625.9) 127.0 213.5 51.4 349.7 262.5 180.9 56.8 567.5 32.7 1,051.7 (35.3) 221.7 (23.4) (137.9) (2,481.1) (121.0) 15.2 79.1 11.4 (230.5) 27.5 (59.2) (62.7) 77.1 (9.2) 9.3 11.1 (362.1) (39.4) (86.9) 0.6 (412.9) (517.9) (27.0) (175.9) (361.8) 144.4 36.8 47.8 31.2 87.3 36.2 10.1 31.6 26.8 157.3 43.0 57.8 51.8 106.9 0.9 57.6 35.1 33.0 52.0 28.0 40.7 27.5 (8.5) 52.4 137.2 34.4 35.8 41.4 36.7 31.0 23.8 20.0 42.0 56.2 28.9 39.7 38.2 18.8 (16.8) 41.8 (12.6) (11.2) (4.3) 8.9 41.8 12.8 21.4 (140.1) 3.7 5.5 15.4 17.3 12.2 10
EPS (Diluted) -0.09 -1.11 0.04 0.20 0.09 -0.05 0.23 0.13 -0.02 -0.75 0.15 0.36 0.09 0.64 0.47 0.32 0.10 0.98 0.06 1.85 -0.06 0.39 -0.04 -0.25 -4.46 -0.21 0.03 0.14 0.02 -0.42 0.07 -0.25 -0.27 0.32 -0.04 0.04 0.05 -1.66 -0.19 -0.41 0.00 -1.96 -2.49 -0.13 -1.04 -2.16 0.86 0.27 0.38 0.25 0.70 0.29 0.08 0.26 0.22 1.30 0.36 0.49 0.44 0.90 0.01 0.49 0.30 0.29 0.46 0.26 0.37 0.26 -0.09 0.54 1.37 0.36 0.40 0.47 0.41 0.38 0.29 0.25 0.52 0.71 0.37 0.54 0.50 0.26 -0.24 0.71 -0.19 -0.18 -0.07 0.15 0.76 0.24 0.40 -2.74 0.08 0.12 0.34 0.36 0.28 0.27
Balance Sheet
Cash & Equivalents 759.8 952.3 10.4 7.2 6.0 16.6 21.3 35.9 29.1 55.8 23.9 19.6 6.4 5.5 4.4 (7.2) (7.3) (7.8) (8.8) 1.4 (10.1) (11.1) (10.5) (12.0) (12.7) 5.6 (14.1) (15.1) (16.6) 0 45.2 0 0 0 0.5 2.4 3.1 2.7 0.9 0.4 0.5 3.0 0.6 10.2 2.0 0.7 0 16.0 32.5 53.7 19.4 142.4 4.1 11.4 0 0 83.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 12.9 0.4 0 1.9
Total Assets 3,261.1 3,342.7 7,601.4 7,552.0 7,824.6 7,759.7 7,614.2 7,770.9 7,717.5 7,460.9 8,946.2 8,617.4 5,180.1 5,103.8 4,923.6 4,810.1 4,836.2 4,834.6 4,454.0 4,438.2 3,338.4 3,408.1 3,156.4 3,267.8 3,441.0 5,914.1 6,233.9 6,222.2 6,359.2 6,377.2 6,491.3 4,476.9 4,433.1 4,372.1 4,353.6 4,582.0 4,702.4 4,594.1 4,995.9 5,089.3 5,197.9 2,092.7 1,901.2 1,884.0 1,780.6 1,813.5 1,386.2 909.8 953.4 959.1 941.0 1,044.9 997.8 964.8 1,282.9 1,279.8 957.0 829.4 826.4 778 458.1 418.4 402.1 380.5 377.3 413 514.2 499.5 495.4 443.8 152.6 126.8 120.5 99.3 63.1 49.1 42.6
Total Debt 146.2 117.9 2,013.3 2,125.4 2,198.2 2,281.9 2,283.5 2,467.2 2,466.3 2,440.6 2,664.2 2,564.4 963.5 937.2 1,094.4 1,136.4 1,296.2 1,387.5 1,541.3 1,589.9 1,732.1 1,793.2 1,815.9 1,921.8 1,941.0 1,847.5 1,933.1 1,960.7 2,123.1 2,103.9 2,003.3 1,746.7 1,722.7 1,686.3 1,697.3 1,787.1 1,814.0 1,754.1 1,822.2 1,868.1 1,807.6 497.8 413.7 422.8 371.3 506.6 455.1 241.2 235.8 232.6 203.3 304.1 327.0 328.3 456.5 435.4 329.1 213.9 212.9 212.3 118 116.4 115.5 117.7 119.4 157.1 191.5 159.6 136.7 98.6 6.1 26.5 9.9 0 15.4 10.3 0
Stockholders' Equity 2,138.3 2,387.1 4,190.0 4,084.9 4,202.2 4,171.0 3,979.4 3,958.1 3,901.3 3,825.1 4,732.2 4,601.2 3,084.7 3,030.4 2,723.4 2,419.6 2,241.8 2,211.3 1,652.1 1,591.8 537.3 578.2 384.3 435.7 625.2 2,947.2 3,107.1 3,063.2 3,024.8 3,055.4 3,154.7 1,917.7 1,928.4 1,914.9 1,836.9 1,929.1 1,976.4 1,979.0 2,169.9 2,183.9 2,260.8 1,021.1 1,023.1 1,012.0 1,004.0 906.3 589.9 362.8 400.5 439.5 438.0 395.1 359.7 346.0 459.7 457.3 386.1 379.3 375.0 346.1 230.4 230.3 225.1 220 217.1 215.5 247.6 247 247.6 245.8 127.8 79.7 79.9 78.2 31.3 30.5 29.8
Cash Flow
Operating Cash Flow 122.5 226.4 472.7 354.3 431.3 468.9 550.0 505.6 383.8 474.5 444.0 192.3 184.9 303.4 310.4 360.0 199.0 240.6 179.0 171.9 121.0 51.0 93.7 25.8 182.6 235.0 195.0 247.6 157.4 169.1 154.1 74.5 87.6 96.3 77.9 70.2 80.7 39.2 88.9 55.0 64.4 61.3 49.9 26.1 40.8 33.9 23.1 31.4 41.9 31.8 48.4 (4.7) 108.6 20.2 49.3 40.7 46.9 50.3 37.8 33.7 34.1 (31.4) 31.7 11.5 56 0.8 (5.7) (3.3) 20.9 60 6.3 5.4 2.4 3.3 1.9 1.5 2.8
Capital Expenditure (152.1) (142.9) (330.7) (358.0) (406.9) (211.9) (308.1) (344.2) (450.2) (235.6) (414.7) (171.3) (234.6) (105.1) (167.6) (97.1) (154.3) (75.8) (94.5) (61.8) (83.7) (78.1) (15.9) (11.2) (177.4) (154.2) (139.2) (109.2) (153.9) (184.6) (140.6) (79.3) (93.7) (89.9) (61.5) (84.0) (162.7) (67.9) (39.7) (35.5) (82.0) (110.9) (32.5) (28.5) (16.0) (29.2) (22.8) (43.2) (59.1) (61.6) (19.8) (77.6) 2.9 (87.6) (29.2) (33.9) (81.0) 0 156.3 (251.2) (33.7) (40.8) (26.8) (12.2) (14.6) (60.4) (33.4) (20.3) (60.4) (100.9) (30.2) (13) (33.6) (22.6) (14.6) (10.5) (10.1)
Free Cash Flow (29.6) 83.5 142.0 (3.6) 24.4 257.0 241.9 161.4 (66.4) 238.9 29.3 21.0 (49.6) 198.4 142.8 262.9 44.7 164.8 84.5 110.1 37.3 (27.0) 77.7 14.6 5.2 80.8 55.7 138.4 3.5 (15.5) 13.5 (4.8) (6.1) 6.4 16.4 (13.8) (82.0) (28.7) 49.2 19.4 (17.7) (49.6) 17.4 (2.4) 24.8 4.7 0.3 (11.8) (17.2) (29.8) 28.7 (82.3) 111.5 (67.4) 20.1 6.8 (34.1) 50.3 194.1 (217.5) 0.4 (72.2) 4.9 (0.7) 41.4 (59.6) (39.1) (23.6) (39.5) (40.9) (23.9) (7.6) (31.2) (19.3) (12.7) (9) (7.3)