B2Gold Corp. logo BTG - B2Gold Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 5
HOLD 2
SELL 1
STRONG
SELL
0
| PRICE TARGET: $6.25 DETAILS
HIGH: $6.50
LOW: $6.00
MEDIAN: $6.25
CONSENSUS: $6.25
UPSIDE: 36.46%
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
Revenue
Revenue 1,142.6 1,054.0 782.9 692.2 532.1 499.8 448.2 492.6 461.4 512.0 477.9 470.9 473.6 592.5 392.6 382.0 365.6 526.1 510.9 363.0 362.3 479.5 487.2 441.9 380.3 313.7 310.8 267.2 301.7 272.1 323.9 284.8 344.3 174.0 154.1 164.3 146.3 181.2 193.0 164.8 144.3 139.0 139.2 136.5 138.9 122.4 114.9 120.3 129.0 138.1 128.7 122.6 154.9 70.8 67.1 57.3 63.9 66.9 50.5 54.5 53.5 47.0 40.2 23.3 17.1 3.5 9.2 7.9 0 0 0 0 0 0
Cost of Revenue 541.3 502.7 392.6 340.8 294.4 325.8 313.4 279.4 277.2 306.4 307.4 280.5 259.9 331.8 306.6 264.1 225.9 278.4 275.7 234.8 204.9 223.4 215.5 203.8 187.9 185.4 178.5 169.8 213.3 205.1 235.5 195.0 224.7 130.9 116.9 131.5 109.2 138.7 122.0 110.6 101.8 117.8 116.3 116.9 115.6 103.5 99.0 98.3 91.9 102.0 87.5 86.9 120.9 36.6 34.4 28.9 32.2 6.4 24.9 27.6 29.3 18.1 17.7 14.1 12.8 1.2 8.5 7.2 1.3 0 0 0 0 0
Gross Profit 601.3 551.3 390.3 351.4 237.8 174.0 134.8 213.2 184.2 205.5 170.5 190.3 213.6 260.7 86.0 117.9 139.7 247.8 235.2 128.2 157.4 256.1 271.6 238.1 192.4 128.3 132.2 97.4 88.3 67.0 88.3 89.8 119.6 43.1 37.2 32.9 37.1 42.5 71.0 54.2 42.4 21.2 22.9 19.6 23.3 18.9 15.9 22.0 37.1 36.0 41.2 35.7 34.0 34.2 32.6 28.5 31.7 60.5 25.6 26.9 24.2 28.9 22.5 9.1 4.2 2.3 0.7 0.7 (1.3) 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 24.9 28.2 22.2 23.9 17.7 29.0 18.4 17.8 19.1 26.4 17.4 18.5 21.0 27.3 16.2 17.0 19.9 26.8 17.3 19.9 11.8 21.9 13.8 16.0 17.6 22.1 15.2 18.2 19.4 28.8 20.4 14.8 17.4 24.4 12.4 18.2 10.6 21.9 12.8 11.2 13.8 12.3 12.9 15.1 16.0 14.4 13.3 21.7 12.2 16.0 12.7 19.2 10.4 14.2 7.0 11.7 8.2 5.0 7.4 4.3 6.2 4.0 4.0 4.7 3.7 10.7 0.5 2.5 1.4 2.0 2.2 3.2 3.1 1.7
Other Expenses 3.9 (8.1) 17.9 10.2 14.1 6.9 678.7 164.6 10.5 214.3 125.6 12.7 16.7 1.4 15.3 3.0 2.0 (16.4) (0.6) (0.5) (4.6) (0.9) (169.1) 10.7 (4.6) (133.4) 1.4 0.6 (1.0) 4.1 (4.7) (3.6) 1.5 (1.9) 3.6 (4.7) 1.5 5.8 10.4 7.9 0.5 1.9 9.3 1.7 1.6 477.7 300.0 (3.8) (0.3) 2.4 9.1 1.8 7.9 3.8 0.4 0.4 0.4 26.6 0.3 0.3 0.3 11.1 6.4 4.8 3.5 3.5 (0.5) 1.4 0.0 0.0 0.0 0.0 0.0 (1.9)
Operating Expenses 28.8 20.2 40.1 34.1 31.8 35.9 697.0 182.4 29.6 240.7 143.0 31.2 37.7 28.7 31.5 20.1 21.9 10.4 16.7 19.4 7.2 21.0 (155.3) 26.7 13.0 (111.4) 16.6 18.8 18.4 32.9 15.6 11.2 18.9 22.5 16.0 13.5 12.1 27.6 23.1 19.1 14.3 14.2 22.2 16.8 17.6 492.0 313.3 17.8 12.0 18.3 21.9 20.9 18.3 18.0 7.4 12.1 8.7 31.5 7.7 4.6 6.5 15.1 10.4 9.5 7.3 14.2 (0.0) 3.9 1.4 2.1 2.2 3.2 3.1 (0.2)
Operating Income
Operating Income 572.5 531.1 350.2 317.3 206.0 138.1 (562.2) 30.8 154.6 (35.2) 27.5 159.1 175.9 232.0 54.5 97.8 118.1 237.4 218.5 108.6 150.2 235.2 426.9 211.4 179.4 239.7 115.6 78.6 74.1 44.9 76.3 79.6 91.7 20.6 21.2 19.4 25.4 15.2 47.9 35.0 28.2 (103.9) 0.7 2.8 5.6 (473.2) (297.4) 4.1 25.1 18.0 19.4 62.6 15.6 22.1 23.8 15.1 23.1 28.4 15.4 23.0 19.0 16.8 10.9 (2.2) (3.5) (11.9) (2.4) (3.2) (1.4) (8.5) (2.2) (3.2) (3.1) (0.2)
Interest Expense 18.1 22.4 4.7 4.9 5.7 10.8 7.0 7.5 9.6 4.9 3.2 2.9 2.9 2.9 2.7 2.7 2.6 2.7 3.1 3.0 2.9 2.8 3.4 5.1 4.5 4.9 7.1 7.1 7.4 7.4 7.3 8.2 8.3 5.5 2.1 3.1 2.1 2.0 2.3 2.9 3.0 3.1 3.1 8.3 1.7 1.3 1.7 1.4 1.3 1.7 1.8 0.4 0.3 0.1 0.1 0.1 0 0.1 0.1 0.1 0.4 1.2 1.3 1.3 1.0 0.7 0 0 0.0 0 0.0 0.0 0 (0.1)
Interest Income 3.0 3.3 3.0 2.9 3.2 3.6 4.0 7.7 5.5 2.8 3.9 6.0 5.8 12.0 3.2 2.5 2.1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0 0 0.5 0.7 0 0
Profitability
EBITDA 731.5 526.1 307.2 394.0 227.8 213.1 (476.7) 126.5 230.1 57.4 138.0 257 276.9 368.3 143.6 184.6 222.3 354.6 335.8 196.6 221.2 320.8 504.4 291.5 235.0 309.7 177.4 134.5 141.0 84.9 149.2 138.9 177.5 71.3 65.1 69.5 38.9 89.3 91.3 30.6 39.8 (77.6) 34.7 19.8 39.9 (429.9) (238.9) 24.4 11.2 58.8 37.4 58.6 21.8 28.2 30.6 21.5 29.0 34.5 19.8 29.1 25.2 18.3 34.2 (3.0) (0.8) (27.5) (1.4) (2.2) (5.9) 4.5 0.0 (3.2) (3.1) (0.2)
EBIT 572.5 382.2 202.5 291.3 138.5 119.2 (564.7) 31.5 139.7 (51.6) 37.7 162.3 179.8 237.6 49.4 103.5 144.1 232.5 224.0 118.5 154.0 242.6 427.3 216.0 164.4 242.0 111.4 77.0 80.3 27.6 79.5 82.7 94.9 29.8 27.4 22.9 2.5 34.5 47.1 (8.3) 5.4 (118.4) (1.1) (15.2) 7.3 (459.7) (268.0) (3.9) (14.1) 27.3 16.2 39.7 7.6 18.8 22.3 14.0 22.3 26.2 13.7 22.3 18.8 13.1 29.8 (6.2) (3.0) (27.8) (2.5) (3.0) (5.9) 4.5 0 (3.2) (3.1) 0
Income Before Tax 495.0 359.8 197.8 286.4 132.8 108.3 (571.7) 24.1 130.1 (56.5) 40.5 159.4 176.9 235.6 46.7 105.8 142.6 234.9 220.9 115.5 155.0 239.8 423.9 210.9 159.9 237.1 104.3 68.1 72.9 (27.8) 72.2 76.5 88.0 24.3 25.2 19.0 0.4 32.5 44.8 (11.3) 2.4 (121.4) (4.1) (23.4) 5.6 (461.0) (269.6) (5.4) (15.4) 26.2 14.4 39.2 7.3 18.7 22.3 14.0 22.3 26.2 13.6 22.3 18.4 11.9 28.4 (7.6) (4.6) (17.2) (2.5) (3.0) (5.9) (15.0) (4.6) (2.3) (8.3) (0.1)
Income Tax Expense 292.3 179.6 174.7 125.6 70.2 117.6 59.3 58.8 81.6 60.9 75.3 67.6 75.0 59.1 67.9 65.1 51.8 81.7 86.0 41.5 56.2 65.3 146.8 72.9 76.9 58.4 54.4 23.2 37.6 21.9 32.8 49.0 30.5 (10.2) 12.8 (0.3) 5.0 24.5 9.1 0.6 (4.2) (6.4) 9.4 (0.7) (0.8) (104.3) 4.5 6.1 8.6 (0.0) 6.5 6.2 7.2 7.7 7.8 2.0 7.8 5.3 4.6 7.3 7.0 5.7 0.6 0.9 (0.2) 0.0 (0.5) (0.1) (0.2) (0.0) (0.1) (0.2) 0 0.1
Net Income 197.2 170.6 19.3 154.4 57.6 (11.9) (633.8) (24.0) 39.8 (113.2) (43.1) 80.4 86.0 157.8 (23.4) 37.8 80.7 136.9 123.1 68.5 91.6 168.5 262.9 124.4 72.3 177.4 55.8 37.9 22.3 (58.9) 10.6 20.8 56.5 29.9 11.4 21.0 (5.5) 6.2 34.9 (10.3) 8.3 (119.9) (15.1) (21.2) 6.3 (355.6) (274.1) (11.5) (24.0) 26.2 7.9 33.1 0.1 10.9 14.5 11.9 14.5 20.8 9.0 15.0 11.4 6.2 28.1 (8.1) (4.6) (17.3) (2.0) (2.8) (5.7) (15.0) (4.5) (2.1) (8.3) (0.2)
Per Share Data
EPS (Basic) 0.15 0.13 0.01 0.12 0.04 -0.01 -0.48 -0.02 0.03 -0.09 -0.03 0.06 0.08 0.15 -0.02 0.04 0.08 0.13 0.12 0.07 0.09 0.16 0.25 0.12 0.07 0.17 0.05 0.04 0.02 -0.06 0.01 0.02 0.06 0.03 0.01 0.02 -0.01 0.01 0.04 -0.01 0.01 -0.13 -0.02 -0.02 0.01 -0.39 -0.39 -0.02 -0.04 0.04 0.01 0.05 0.00 0.02 0.04 0.03 0.04 0.06 0.03 0.05 0.04 0.02 0.09 -0.03 -0.02 -0.06 -0.01 -0.01 -0.04 -0.09 -0.03 -0.01 -0.07 -0.00
EPS (Diluted) 0.14 0.11 0.01 0.10 0.04 -0.01 -0.48 -0.02 0.03 -0.09 -0.03 0.06 0.08 0.15 -0.02 0.04 0.08 0.13 0.12 0.06 0.09 0.16 0.25 0.12 0.07 0.17 0.05 0.04 0.02 -0.06 0.01 0.02 0.05 0.03 0.01 0.02 -0.01 0.01 0.04 -0.01 0.01 -0.13 -0.02 -0.02 0.01 -0.39 -0.39 -0.02 -0.04 0.04 0.01 0.05 0.00 0.02 0.04 0.03 0.04 0.05 0.03 0.05 0.03 0.02 0.09 -0.03 -0.02 -0.06 -0.01 -0.01 -0.04 -0.09 -0.03 -0.01 -0.07 -0.00
Shares Outstanding 1,340.8 1,336.7 1,324.3 1,321.7 1,318.4 1,314.0 1,311.0 1,307.2 1,303.2 1,300.8 1,297.2 1,251.8 1,075.4 1,074.4 1,064.3 1,061.3 1,056.8 1,054.7 1,054.7 1,053.1 1,051.5 1,050.8 1,047.0 1,040.7 1,035.0 1,027.0 1,019.3 1,008.3 1,001.4 991.3 988.8 984.6 982.2 979.7 978.7 976.5 970.4 961.0 948.3 930.2 927.1 924.2 924.1 923.0 917.7 906.1 700.8 674.9 671.8 651.1 647.8 643.7 600.4 600.4 387.1 382.2 379.7 379.7 339.5 334.7 333.0 333.0 307.5 289.7 289.7 277.8 238.5 238.5 163.2 163.2 162.5 145.2 127.3 82.7
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
Current Assets
Cash & Cash Equivalents 481.0 379.7 366.9 308.5 330.1 336.8 430.4 466.8 567.8 305.3 308.1 505.3 674.2 651.7 545.5 587.6 647.6 672.1 545.7 382.1 512.6 479.7 365.5 627.7 207.9 140.6 146.4 113.5 141.6 102.8 354.8 107.0 167.9 147.5 89.7 88.2 103.2 144.7 123.8 99.8 109.1 14.1 21.7 2.9 4.5 3.9
Short-Term Investments 2.7 4.9 8.4 1.8 17.6 11.6 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 0.3 0.3 0.4 0.2 19.2
Net Receivables 81.6 90.3 73.9 54.0 72.7 66.5 79.6 52.6 46.3 48.5 46.2 34.4 39.9 43.3 42.6 48.8 72.4 42.3 54.2 66.1 53.1 28.2 37.8 45.7 26.0 46.7 27.9 29.4 36.6 26.3 38.9 42.7 41.9 41.9 34.5 34.9 29.1 27.7 28.6 29.0 27.7 11.6 12.8 9.8 2.5 1.6
Inventory 665.6 626.1 598.0 561.1 535.7 477.3 377.5 376.8 339.4 344.7 342.0 338.5 350.4 331.9 291.7 300.7 278.5 272.0 269.4 269.7 255.5 238.1 242.2 245.0 238.3 217.9 204.6 194.9 226.1 234.0 223.8 235.3 214.7 206.4 118.1 111.2 115.2 104.7 114.0 100.0 93.5 18.2 12.2 10.3 7.3 8.3
Other Current Assets 56.8 0 0 (9.7) 0 0 19.3 14.2 34.4 0 0 0 0 3.8 3.8 57.4 55.2 54.2 97.0 11.9 16.7 11.9 11.9 11.9 22.7 22.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 1,313.1 1,127.6 1,069.4 949.9 967.3 901.3 920.0 926.5 996.6 707.1 703.9 887.6 1,073.1 1,034.7 891.2 1,006.9 1,058.8 1,044.7 974.1 742.7 842.6 762.7 662.7 933.8 500.6 429.5 378.9 337.8 404.2 363.0 617.6 385.0 424.5 395.9 242.3 234.3 247.5 277.1 266.3 228.8 230.4 44.2 47.0 23.4 15.7 40.5
Non-Current Assets
Property, Plant & Equipment 3,758.1 3,753.5 3,763.1 3,596.7 3,438.7 3,289.5 3,091.7 3,616.0 3,682.9 3,545.3 3,576.6 3,560.8 2,277.4 2,273.7 2,275.7 2,255.1 2,221.1 2,228.8 2,202.9 2,326.0 2,351.6 2,387.0 2,340.4 2,170.4 2,078.1 2,046.7 1,933.2 1,942.3 2,039.3 2,035.1 2,078.1 2,091.7 2,076.9 2,124.1 2,209.0 2,125.6 2,035.7 1,950.4 1,858.7 1,813.5 1,774.0 185.5 181.6 170.3 149.6 53.9
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 41.9 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 29.4 36.6 26.3 38.9 42.7 41.9 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 430.4 458.3 345.0 225.1 218.9 227.4 243.4 255.8 227.7 274.9 268.6 243.7 207.5 184.0 170.9 171.0 172.7 164.9 132.9 131.5 108.6 104.7 89.7 67.1 174.9 144.2 80.5 79.4 78.1 76.2 77.0 75.4 74.4 75.6 70.6 67.4 68.4 63.8 60.3 59.8 59.1 53.4 52.8 51.9 50.5 49.8
Other Non-Current Assets 435.7 452.9 493.0 503.2 468.3 393.0 503.1 367.2 380.7 305.6 279.2 226.3 211.3 187.1 154.8 137.8 126.2 116.6 84.1 85.9 88.7 83.4 74.8 71.8 62.8 61.3 248.8 207.4 39.9 35.3 40.8 32.6 43.6 39.8 57.3 51.8 47.7 45.0 48.9 47.9 46.9 2.1 1.9 1.8 7.7 82.8
Total Non-Current Assets 4,671.2 4,741.0 4,617.2 4,356.4 4,131.7 3,909.9 3,861.1 4,255.6 4,299.6 4,142.6 4,124.5 4,034.7 2,697.0 2,644.9 2,601.4 2,563.8 2,519.9 2,511.8 2,425.2 2,553.6 2,558.6 2,599.7 2,519.7 2,312.5 2,315.8 2,253.6 2,262.6 2,258.4 2,188.8 2,184.8 2,230.0 2,253.4 2,263.1 2,289.3 2,336.9 2,244.7 2,151.7 2,059.1 1,967.8 1,921.2 1,880.0 241.0 236.2 224 207.8 186.5
Total Assets 5,984.2 5,868.6 5,686.7 5,306.4 5,098.9 4,811.1 4,781.2 5,182.1 5,296.3 4,849.7 4,828.4 4,922.3 3,770.1 3,679.6 3,492.6 3,570.7 3,578.7 3,556.5 3,399.3 3,296.3 3,401.3 3,362.4 3,182.4 3,246.3 2,816.4 2,683.1 2,641.4 2,596.1 2,593.0 2,547.8 2,847.6 2,638.4 2,687.6 2,685.2 2,579.2 2,479.0 2,399.3 2,336.1 2,234.1 2,150.0 2,110.4 285.3 283.2 247.4 223.5 227.0
Current Liabilities
Account Payables 185.0 174.5 156.8 157.8 171.5 156.3 174.3 178.5 175.9 166.3 176.1 153.1 109.0 114.7 108.1 87.7 100.6 111.6 87.5 74.9 83.5 89.1 80.5 78.4 80.8 83.4 59.7 61.7 72.6 80.3 70.0 75.1 80.9 95.1 93.4 89.3 86.5 64.9 58.1 57.4 54.0 14.4 13.9 10.1 13.3 0
Short-Term Debt 28.8 33.8 30.0 5.4 27.2 16.4 151.8 14.9 11.7 16.2 15.1 16.9 14.8 15.5 19.7 19.3 21.8 25.4 28.7 31.6 33.1 34.1 23.1 22.3 22.0 26.0 25.8 26.5 29.7 25.0 289.2 289.5 299.1 302.6 27.3 20.7 20.3 13.9 18.4 14.1 14.0 17.4 15.3 1.1 0 0
Deferred Revenue 0 0 0 558.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 54.0 56.7 12 30 45 60 63 60 60 60 60 57.5 45.7 29.6 12.5 0 0 0 0 0
Other Current Liabilities 457.4 584.4 605.2 91.2 467.6 304.2 18.7 9.3 8.9 9.4 21.3 20.0 7.9 7.7 1.8 25.7 1.9 1.8 5.5 21.5 7.3 8.2 6.7 29.5 14.3 2.3 37.5 27.9 1.8 5.0 5.1 8.4 7.6 10.4 14.6 12.8 11.7 9.8 11.5 15.3 15.3 0.7 0.7 0.7 3.1 17.6
Total Current Liabilities 1,101.9 1,059.3 1,034.6 969.0 793.6 580.3 501.5 316.3 333.6 311.9 323.1 318.6 268.5 233.5 171.0 217.1 205.0 230.9 199.2 173.1 289.6 286.1 294.5 266.2 212.9 165.1 234.0 232.4 198.7 207.2 485.6 496.4 512.7 494.5 207.1 188.1 185.4 176.0 151.4 122.9 105.8 32.6 30.0 11.8 16.5 17.6
Non-Current Liabilities
Long-Term Debt 445.5 545.0 558.2 375.6 356.5 391.5 195.1 0 6.3 141.9 0 0 0 0 0 0 0 0 0 0 0 0 0 418.4 167.8 192.3 291.7 366.2 447.0 454.5 457.8 288.4 343.5 399.6 634.4 561.7 506.6 472.8 430.3 448.1 405.9 0 0 8.6 0 0
Deferred Tax Liabilities 196.2 151.1 202.9 182.2 190.2 169.6 161.6 170.0 200.0 187.1 183.3 180.7 181.7 182.4 229.3 195.8 190.2 187.6 206.5 212.6 221.2 220.9 225.5 151.6 157.7 145.6 116.0 100.0 106.8 103.4 102.7 92.2 81.7 81.5 77.4 71.6 74.7 74.1 60.0 57.5 61.0 11.8 11.5 11.6 11.8 11.8
Other Non-Current Liabilities 467.8 427.8 474.7 427.1 542.2 606.1 712.4 826.2 296.3 285.7 241.4 252.5 118.9 111.6 99.2 108.1 122.4 131.3 108.8 110.2 106.5 118.9 103.3 102.6 100.6 84.9 85.6 82.3 128.9 129.8 112.0 105.4 107.8 113.2 92.8 154.3 159.3 158.6 170.0 105.1 100.8 16.0 16.1 15.7 6.9 7.4
Total Non-Current Liabilities 1,156.7 1,174.4 1,284.6 1,020.8 1,130.4 1,196.9 1,095.6 1,021.8 1,032.8 647.8 458.8 471.8 335.1 335.7 370.9 351.4 363.4 368.6 370.3 384.6 394.7 415.7 354.7 702.9 461.3 466.4 541.9 602.9 689.0 687.7 672.5 486.0 545.0 624.2 849.6 787.6 740.7 705.5 660.2 701.1 675.2 27.8 27.6 35.9 18.7 19.2
Total Liabilities 2,258.6 2,233.7 2,319.2 1,989.8 1,924.0 1,777.2 1,597.1 1,338.1 1,366.4 959.7 781.9 790.5 603.6 569.2 542.0 568.5 568.4 599.5 569.5 557.7 684.3 701.8 649.2 969.1 674.2 631.4 775.9 835.3 887.7 895.0 1,158.1 982.3 1,057.7 1,118.8 1,056.7 975.7 926.1 881.6 811.6 824.0 781.1 60.4 57.5 47.7 35.2 36.8
Stockholders' Equity
Common Stock 3,615.0 3,600.4 3,556.9 3,526.9 3,516.8 3,508.2 3,486.7 3,484.5 3,463.4 3,437.1 3,431.9 3,426.3 2,500.0 2,486.5 2,466.8 2,451.0 2,425.5 2,418.9 2,415.0 2,415.0 2,408.8 2,407.7 2,403.5 2,380.9 2,361.5 2,339.9 2,325.2 2,273.8 2,262.2 2,234.1 2,221.6 2,211.6 2,203.8 2,197.3 2,192.7 2,189.7 2,180.4 2,152.0 2,126.9 2,052.0 2,039.4 0 0 0 0 208.4
Retained Earnings (84.2) (220.2) (364.1) (356.9) (484.7) (515.3) (442.0) 309.3 384.5 393.8 557.5 653.1 625.2 587.9 473.3 543.3 545.6 506.7 411.4 330.5 303.4 254.3 127.3 (93.9) (198.4) (261.2) (429.3) (485.9) (524.7) (547.8) (490.2) (490.6) (508.9) (610.9) (640.8) (652.2) (673.3) (667.8) (674.0) (708.9) (698.6) (70.7) (66.6) (62.0) (42.8) (39.9)
Accumulated Other Comprehensive Income 4.8 55.9 (26.2) (60.5) (66.5) (102.7) (96.1) (118.4) (110.3) (124.6) (131.9) (142.6) (149.5) (145.8) (149.8) (145.9) (139.9) (136.1) (141.8) (139.2) (140.6) (138.5) (141.7) (144.5) (145.8) (145.1) (144.9) (144.8) (145.5) (146.2) (144.3) (144.3) (142.8) (94.3) (95.0) (94.9) (92.3) (95.4) (92.6) (92.8) (91.9) 0 0 0 0 0
Total Stockholders' Equity 3,683.0 3,587.0 3,321.8 3,269.9 3,125.3 2,981.3 3,032.4 3,755.1 3,826.4 3,790.9 3,937.6 4,015.0 3,048.2 3,006.8 2,863.6 2,917.2 2,901.7 2,856.4 2,746.0 2,662.6 2,622.7 2,572.0 2,435.8 2,193.1 2,070.9 1,990.2 1,808.4 1,712.8 1,659.9 1,610.9 1,656.2 1,639.8 1,614.5 1,552.1 1,512.8 1,494.5 1,462.7 1,445.0 1,416.0 1,320.3 1,322.1 224.8 225.7 199.7 184.9 186.8
Total Liabilities & Equity 5,984.2 5,868.6 5,686.7 5,306.4 5,098.9 4,811.1 4,781.2 5,182.1 5,296.3 4,849.7 4,828.4 4,922.3 3,770.1 3,679.6 3,492.6 3,570.7 3,578.7 3,556.5 3,399.3 3,296.3 3,401.3 3,362.4 3,182.4 3,246.3 2,816.4 2,683.1 2,641.4 2,596.1 2,593.0 2,547.8 2,847.6 2,638.4 2,687.6 2,685.2 2,579.2 2,479.0 2,399.3 2,336.1 2,234.1 2,150.0 2,110.4 285.3 283.2 247.4 223.5 227.0
Debt Metrics
Total Debt 521.6 629.3 637.0 434.4 425.2 437.6 373.4 40.5 45.2 191.1 49.2 55.5 49.3 57.2 62.1 66.7 72.5 75.0 83.6 93.5 100.1 110.0 48.9 471.1 225.0 261.9 369.2 449.9 483.1 479.5 746.9 577.8 642.5 702.2 661.7 582.4 526.9 486.8 448.7 462.3 419.8 17.4 15.3 9.7 0 0
Net Debt 40.6 249.6 270.1 125.9 95.0 100.9 (57.1) (426.3) (522.6) (114.2) (258.9) (449.8) (624.8) (594.4) (483.5) (520.9) (575.1) (597.1) (462.1) (288.6) (412.4) (369.7) (316.5) (156.6) 17.1 121.3 222.8 336.4 341.5 376.8 392.1 470.9 474.6 554.7 572.0 494.2 423.7 342.1 324.9 362.5 310.8 3.3 (6.4) 6.8 (4.5) (3.9)
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 197.2 173.2 19.1 160.8 57.4 (9.3) (631.0) (24.0) 39.6 (116.4) (42.5) 81.5 101.9 176.5 (22.1) 40.7 90.8 153.1 134.9 74.0 98.8 174.4 262.2 126.6 83.0 176.8 49.9 45.0 22.3 (7.3) 34.3 27.5 57.4 34.5 12.4 19.3 (4.6) 8.1 35.7 (11.8) 8.3
Depreciation & Amortization 159.0 146.1 103.5 102.7 89.3 93.9 88.1 95.0 90.0 112.0 100.3 95.9 97.2 130.5 88.9 81.9 77.3 105.9 105.4 66.2 54.4 12.6 76.9 76.9 75.1 68.9 102.3 72.4 60.6 66.0 70.2 57.1 86.7 17.7 29.7 34.1 59.0 (17.9) 51.0 81.4 34.7
Stock-Based Compensation 0 0 0 8.0 0 9.9 5.1 0 4.9 0 0 0 6.9 6.6 0 3.9 8.4 6.7 6.0 8.7 1.2 1.7 0 0 3.6 0 3.4 6.1 4.0 4.5 7.9 2.5 4.0 4.9 3.9 7.7 1.6 2.2 4.0 2.1 5.7
Change in Working Capital 151.2 76.3 (7.7) (45.8) (65.0) (24.1) (134.2) (128.2) 11.1 (15.7) (80.5) (3.7) (19.6) 0.6 (43.2) (14.2) (56.5) 9.2 63.2 (150.1) (28.2) (26.2) 52.7 25.7 28.9 (2.5) (13.6) (23.9) (9.6) (2.8) 24.8 (18.8) 15.1 (17.2) 2.2 (12.8) (18.2) 18.9 (2.8) (4.5) (3.1)
Other Non-Cash Items (64.9) 20.5 14.7 58.5 108.9 19.4 668.1 160.7 541.2 242.5 123.4 26.4 19.3 4.8 31.0 7.7 (16.8) 5.6 7.9 1.9 4.6 48.5 (158.6) 17.6 12.2 (129.1) 0.5 (9.7) (3.0) 1.1 (4.6) (19.9) (7.6) 8.4 (12.2) 1.6 1.6 55.4 (0.5) 3.2 134.5
Operating Cash Flow 523.4 289.1 160.9 255.1 174.8 120.5 (16.1) 66.1 710.7 209.1 107.7 196.4 203.8 270.5 87.5 124.9 107.3 266.3 320.3 (8.3) 145.9 196.7 296.2 237.7 216.2 143.0 167.8 92.8 86.4 74.1 143.2 86.2 147.3 25.6 41.8 48.0 39.6 82.3 90.3 67.6 171.6
Investing Activities
Capital Expenditure (163.7) (161.5) (241.4) (238.0) (179.6) (238.0) (214.0) (207.7) (233.7) (256.5) (205.9) (183.4) (111.4) (113.4) 157.3 (132.5) (67.9) (112.5) (77.5) (55.8) (56.5) (87.7) (37.9) (82.0) (112.7) (110.1) (57.5) (50.7) (58.3) (60.2) (49.2) (60.2) (57.3) (53.9) (106.2) (107.4) (104.8) (109.1) (83.2) (74.7) (83.9)
Acquisitions 0 0 0 (4.8) 0 0.1 7.5 0 0 35.9 (35.0) 47.0 (18.0) (3.2) 0 0 0 31.4 0 (5.9) 0 15.5 (0.1) 9.0 0 52.7 0 0 0 0 0 (2.5) 0 (1.5) 0 0 0 (6) 0 0 (6)
Purchases of Investments 0 (35.4) (26.4) (6.2) (3.2) (25.7) (0.7) (7.9) (2.5) (2.4) (5.5) (33.8) (1.3) (1.8) (5.6) (4.0) (7.7) (3.4) 0 (8.2) (1.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 2.3 24.3 8.3 22.5 0 21.1 58.6 118.1 0 0 0 0 1.3 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
Other Investing Activities (0.6) 1.8 (0.1) (248.0) (6.1) (9.4) (10.6) (0.3) (1.1) (52.7) 31.2 0.1 (1.7) (7.2) (19.9) 1.8 (2.2) 0.0 1 (0.0) (1.1) (1.8) (1.7) 1.1 (0.0) (1.1) (15.6) (22.6) (0.2) (0.2) (13.3) (16.9) (13.7) 61.3 (15.0) (8.2) (11.0) 1.3 (10.4) (7.9) (4.3)
Investing Cash Flow (173.6) (186.5) (275.2) (236.4) (194.5) (252.0) (163.3) (109.4) (239.6) (293.9) (232.7) (195.0) (131.1) (120.6) (53.2) (134.8) (77.8) (84.5) (76.5) (66.0) (59.3) (73.9) (72.5) (71.8) (112.7) (58.5) (73.2) (73.4) (58.5) (60.4) (62.5) (79.6) (71.0) 5.9 (121.3) (115.6) (115.9) (121.5) (93.6) (82.6) (94.2)
Financing Activities
Net Debt Issuance (76.2) (52.2) 201.2 (9.3) 50.3 204.5 194.2 (4.6) (153.8) 149.3 (6.7) (2.9) (5.0) (7.3) (0.9) (7.2) (9.3) (8.3) (8.4) (8.0) (8.0) 33.2 (437.3) 245.1 (36.6) (108.9) (6.7) (32.3) (3.1) (262.7) 167.7 18.4 22.3 33.8 82.3 56.4 23.6 45.0 (25.4) 7.3 (51.0)
Stock Repurchased (78.5) 0.0 (9.9) 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
Dividends Paid (25.9) (26.4) (25.6) (26.0) (25.5) (46.7) (46.1) (45.9) (46.0) (47.8) (44.9) (52.4) (43.0) (43.0) (40.5) (42.5) (42.2) (42.2) (42.2) (41.9) (42.1) (42.0) (63.4) (0.2) (10.4) (10.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (86.8) (46.1) (10.0) (10.7) (15.4) (119.4) (7.0) (3.2) (7.9) (17.7) (12.1) (116.9) (2.3) 0.9 (21.9) (3.3) (3.6) (2.3) (26.8) (7.7) (2.8) (9.3) (11.1) (0.6) (0.8) (1.1) (81.3) (12.8) (6.7) (10.0) (5.7) (89.3) (83.6) (10.5) (2.4) (9.6) (6.7) 33.6 27.7 (7.8) (3.1)
Financing Cash Flow (240.8) (79.3) 184.8 (41.9) 11.7 48.1 141.7 (52.3) (206.6) 84.2 (57.3) (168.7) (47.8) (48.0) (63.0) (44.4) (51.0) (50.1) (75.5) (56.5) (52.1) (15.3) (496.4) 255.7 (32.3) (111.2) (52.4) (37.9) 11.3 (265.6) 167.6 (65.9) (56.6) 24.5 81.4 52.3 34.7 61.1 27.3 6.3 (54.2)
Cash Position
Net Change in Cash 101.2 12.9 57.7 (21.6) (6.6) (94.1) (35.7) (100.5) 260.9 (2.8) (197.2) (168.9) 21.8 102.5 (42.1) (62.1) (24.2) 126.5 164.4 (130.4) 32.9 114.2 (262.2) 419.7 67.3 (5.8) 32.9 (28.1) 38.8 (252.1) 247.9 (71.9) 20.4 57.8 1.5 (15.0) (41.4) 20.9 24.0 (9.3) 23.9
Cash at Beginning 379.7 366.9 309.2 330.1 336.8 431.1 466.8 567.2 306.9 308.1 505.3 674.2 651.9 549.5 587.6 648.8 673.0 546.5 382.1 512.6 479.7 365.5 627.7 207.9 140.6 146.4 123.8 141.6 102.8 354.8 107.0 167.9 147.5 89.7 88.2 103.2 144.7 123.8 99.8 109.1 85.1
Cash at End 481.0 379.7 366.9 308.5 330.1 337.0 431.1 466.8 567.8 305.3 308.1 505.3 673.7 651.9 545.5 586.7 648.8 673.0 546.5 382.1 512.6 479.7 365.5 627.7 207.9 140.6 146.4 113.5 141.6 102.8 354.8 96.0 167.9 147.5 89.7 88.2 103.2 144.7 123.8 99.8 109.1
Free Cash Flow 359.7 127.6 (80.5) 17.1 (4.8) (117.4) (230.1) (141.7) 477.0 (47.4) (98.2) 13.0 92.5 157.1 244.8 (7.6) 39.4 153.8 242.8 (64.2) 89.4 109.0 258.3 155.7 103.5 32.9 110.3 42.1 28.1 13.9 94.1 26.0 89.9 (28.3) (64.5) (59.4) (65.2) (26.8) 7.1 (7.1) 87.7
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
Income Statement
Revenue 1,142.6 1,054.0 782.9 692.2 532.1 499.8 448.2 492.6 461.4 512.0 477.9 470.9 473.6 592.5 392.6 382.0 365.6 526.1 510.9 363.0 362.3 479.5 487.2 441.9 380.3 313.7 310.8 267.2 301.7 272.1 323.9 284.8 344.3 174.0 154.1 164.3 146.3 181.2 193.0 164.8 144.3 139.0 139.2 136.5 138.9 122.4 114.9 120.3 129.0 138.1 128.7 122.6 154.9 70.8 67.1 57.3 63.9 66.9 50.5 54.5 53.5 47.0 40.2 23.3 17.1 3.5 9.2 7.9 0 0 0 0 0 0
Gross Profit 601.3 551.3 390.3 351.4 237.8 174.0 134.8 213.2 184.2 205.5 170.5 190.3 213.6 260.7 86.0 117.9 139.7 247.8 235.2 128.2 157.4 256.1 271.6 238.1 192.4 128.3 132.2 97.4 88.3 67.0 88.3 89.8 119.6 43.1 37.2 32.9 37.1 42.5 71.0 54.2 42.4 21.2 22.9 19.6 23.3 18.9 15.9 22.0 37.1 36.0 41.2 35.7 34.0 34.2 32.6 28.5 31.7 60.5 25.6 26.9 24.2 28.9 22.5 9.1 4.2 2.3 0.7 0.7 (1.3) 0 0 0 0 0
Operating Income 572.5 531.1 350.2 317.3 206.0 138.1 (562.2) 30.8 154.6 (35.2) 27.5 159.1 175.9 232.0 54.5 97.8 118.1 237.4 218.5 108.6 150.2 235.2 426.9 211.4 179.4 239.7 115.6 78.6 74.1 44.9 76.3 79.6 91.7 20.6 21.2 19.4 25.4 15.2 47.9 35.0 28.2 (103.9) 0.7 2.8 5.6 (473.2) (297.4) 4.1 25.1 18.0 19.4 62.6 15.6 22.1 23.8 15.1 23.1 28.4 15.4 23.0 19.0 16.8 10.9 (2.2) (3.5) (11.9) (2.4) (3.2) (1.4) (8.5) (2.2) (3.2) (3.1) (0.2)
Net Income 197.2 170.6 19.3 154.4 57.6 (11.9) (633.8) (24.0) 39.8 (113.2) (43.1) 80.4 86.0 157.8 (23.4) 37.8 80.7 136.9 123.1 68.5 91.6 168.5 262.9 124.4 72.3 177.4 55.8 37.9 22.3 (58.9) 10.6 20.8 56.5 29.9 11.4 21.0 (5.5) 6.2 34.9 (10.3) 8.3 (119.9) (15.1) (21.2) 6.3 (355.6) (274.1) (11.5) (24.0) 26.2 7.9 33.1 0.1 10.9 14.5 11.9 14.5 20.8 9.0 15.0 11.4 6.2 28.1 (8.1) (4.6) (17.3) (2.0) (2.8) (5.7) (15.0) (4.5) (2.1) (8.3) (0.2)
EPS (Diluted) 0.14 0.11 0.01 0.10 0.04 -0.01 -0.48 -0.02 0.03 -0.09 -0.03 0.06 0.08 0.15 -0.02 0.04 0.08 0.13 0.12 0.06 0.09 0.16 0.25 0.12 0.07 0.17 0.05 0.04 0.02 -0.06 0.01 0.02 0.05 0.03 0.01 0.02 -0.01 0.01 0.04 -0.01 0.01 -0.13 -0.02 -0.02 0.01 -0.39 -0.39 -0.02 -0.04 0.04 0.01 0.05 0.00 0.02 0.04 0.03 0.04 0.05 0.03 0.05 0.03 0.02 0.09 -0.03 -0.02 -0.06 -0.01 -0.01 -0.04 -0.09 -0.03 -0.01 -0.07 -0.00
Balance Sheet
Cash & Equivalents 481.0 379.7 366.9 308.5 330.1 336.8 430.4 466.8 567.8 305.3 308.1 505.3 674.2 651.7 545.5 587.6 647.6 672.1 545.7 382.1 512.6 479.7 365.5 627.7 207.9 140.6 146.4 113.5 141.6 102.8 354.8 107.0 167.9 147.5 89.7 88.2 103.2 144.7 123.8 99.8 109.1 14.1 21.7 2.9 4.5 3.9
Total Assets 5,984.2 5,868.6 5,686.7 5,306.4 5,098.9 4,811.1 4,781.2 5,182.1 5,296.3 4,849.7 4,828.4 4,922.3 3,770.1 3,679.6 3,492.6 3,570.7 3,578.7 3,556.5 3,399.3 3,296.3 3,401.3 3,362.4 3,182.4 3,246.3 2,816.4 2,683.1 2,641.4 2,596.1 2,593.0 2,547.8 2,847.6 2,638.4 2,687.6 2,685.2 2,579.2 2,479.0 2,399.3 2,336.1 2,234.1 2,150.0 2,110.4 285.3 283.2 247.4 223.5 227.0
Total Debt 521.6 629.3 637.0 434.4 425.2 437.6 373.4 40.5 45.2 191.1 49.2 55.5 49.3 57.2 62.1 66.7 72.5 75.0 83.6 93.5 100.1 110.0 48.9 471.1 225.0 261.9 369.2 449.9 483.1 479.5 746.9 577.8 642.5 702.2 661.7 582.4 526.9 486.8 448.7 462.3 419.8 17.4 15.3 9.7 0 0
Stockholders' Equity 3,683.0 3,587.0 3,321.8 3,269.9 3,125.3 2,981.3 3,032.4 3,755.1 3,826.4 3,790.9 3,937.6 4,015.0 3,048.2 3,006.8 2,863.6 2,917.2 2,901.7 2,856.4 2,746.0 2,662.6 2,622.7 2,572.0 2,435.8 2,193.1 2,070.9 1,990.2 1,808.4 1,712.8 1,659.9 1,610.9 1,656.2 1,639.8 1,614.5 1,552.1 1,512.8 1,494.5 1,462.7 1,445.0 1,416.0 1,320.3 1,322.1 224.8 225.7 199.7 184.9 186.8
Cash Flow
Operating Cash Flow 523.4 289.1 160.9 255.1 174.8 120.5 (16.1) 66.1 710.7 209.1 107.7 196.4 203.8 270.5 87.5 124.9 107.3 266.3 320.3 (8.3) 145.9 196.7 296.2 237.7 216.2 143.0 167.8 92.8 86.4 74.1 143.2 86.2 147.3 25.6 41.8 48.0 39.6 82.3 90.3 67.6 171.6
Capital Expenditure (163.7) (161.5) (241.4) (238.0) (179.6) (238.0) (214.0) (207.7) (233.7) (256.5) (205.9) (183.4) (111.4) (113.4) 157.3 (132.5) (67.9) (112.5) (77.5) (55.8) (56.5) (87.7) (37.9) (82.0) (112.7) (110.1) (57.5) (50.7) (58.3) (60.2) (49.2) (60.2) (57.3) (53.9) (106.2) (107.4) (104.8) (109.1) (83.2) (74.7) (83.9)
Free Cash Flow 359.7 127.6 (80.5) 17.1 (4.8) (117.4) (230.1) (141.7) 477.0 (47.4) (98.2) 13.0 92.5 157.1 244.8 (7.6) 39.4 153.8 242.8 (64.2) 89.4 109.0 258.3 155.7 103.5 32.9 110.3 42.1 28.1 13.9 94.1 26.0 89.9 (28.3) (64.5) (59.4) (65.2) (26.8) 7.1 (7.1) 87.7