COPT Defense Properties logo CDP - COPT Defense Properties

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 13
HOLD 7
SELL 1
STRONG
SELL
0
| PRICE TARGET: $36.00 DETAILS
HIGH: $38.00
LOW: $33.00
MEDIAN: $37.00
CONSENSUS: $36.00
UPSIDE: 12.04%
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 200.6 197.4 188.8 189.9 187.9 183.4 189.2 187.3 193.3 179.7 168.5 169.2 167.4 175.5 182.8 186.1 196.4 163.7 166.9 157.2 154.4 164.0 154.8 144.8 145.8 158.2 159.8 175.5 149.3 140.1 137.8 147.1 155.8 164.9 157.4 151.8 140.2 142.7 142.7 145.9 144.3 143.3 150.8 170.4 161.1 147.0 153.2 139.8 146.7 130.7 131.9 136.7 126.3 137.5 129.6 127.7 132.2 130.0 126.7 137.1 137.5 151.4 124.7 132.8 149.6 176.6 199.5 208.3 181.0 168.1 191.1 120.4 107.6 102.7 105.1 102.1 99.1 96.3 91.7 84.9 85.5 80.9 90.8 77.5 76.0 65.6 59.7 59.2 56.6 43.2 43.1 38.7 37.6 35.0 31.5 30.7 28.7 28.0 26.4 25.9
Cost of Revenue 81.4 169.5 159.6 118.4 121.1 117.3 123.3 121.2 131.1 118.5 73.3 112.8 74.6 81.9 91.2 95.4 108.8 112.7 113.6 104.7 103.6 112.3 106.1 95.5 95.7 75.9 77.5 88.9 65.8 58.4 57.4 66.4 77.2 83.5 75.2 70.9 61.0 60.5 60.3 59.6 62.6 56.3 65.0 87.7 88.2 68.0 76.6 66.9 68.4 53.8 57.7 60.7 53.9 173.6 84.5 84.0 89.7 61.5 59.8 67.4 67.7 74.2 56.4 64.7 84.5 (225.8) 132.3 138.3 112.3 100.8 123.5 55.9 45.0 0 41.9 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
Gross Profit 119.2 27.9 29.2 71.6 66.8 66.1 65.9 66.2 62.2 61.2 95.2 56.4 92.8 93.6 91.6 90.7 87.5 50.9 53.3 52.5 50.8 51.7 48.7 49.2 50.1 82.3 82.3 86.6 83.6 81.7 80.4 80.7 78.7 81.5 82.2 80.9 79.2 82.2 82.4 86.3 81.7 87.1 85.7 82.7 72.9 79.0 76.6 72.9 78.3 76.9 74.2 75.9 72.4 (36.1) 45.2 43.6 42.5 68.6 66.9 69.8 69.8 77.2 68.3 68.1 65.1 402.3 67.1 70.1 68.7 67.2 67.6 64.5 62.6 0 63.2 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
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 1.6 0 0 0 1.8 0.6 0 0 2.9 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 0 0 0 0 0 0 0 0
SG&A Expenses 18.2 7.9 8.5 4.2 12.2 11.8 11.4 12.0 11.7 11.3 10.6 10.4 10.5 11.2 9.4 9.1 9.3 10.2 10.4 10.6 9.5 10.9 8.6 9.4 8.6 10.6 8.9 10.3 9.9 8.5 8.5 8.9 8.9 7.9 8.6 9.5 10.3 9.1 8.9 10.1 10.2 11.0 10.3 10.2 10.7 10.4 8.6 8.9 9.5 9.8 9.4 7.9 9.2 17.8 8.0 10.1 11.1 9.8 6.2 7.7 8.0 6.8 6.1 5.9 6.1 344.6 6.4 6.3 6.2 7.3 6.1 6.0 5.9 5.4 5.7 5.3 4.9 5.0 4.2 3.7 4.0 3.8 3.3 3.2 3.3 3.5 2.7 2.5 2.3 2.2 1.8 1.8 1.9 1.2 1.3 1.4 1.0 1.3 1.2 1.3
Other Expenses 42.7 (38.5) (37.1) 7.7 0 0 0 0 0 0 0 0 0 0 0 0 (0.4) 0 (0.5) (0.7) (0.8) 0 1.5 0 0 0 0.3 41.1 0 2.4 0 0 0 13.7 0 34.8 0 1.6 27.7 69.7 41.1 0 2.3 35.0 0 31.4 0.1 32.1 0 0 34.1 0 0 (87.5) 44.5 0 (4.8) 97.5 31.3 47.8 57.8 35.3 29.5 28.7 27.6 26.7 26.5 28.5 26.3 27.3 25.6 25.0 24.9 65.2 26.0 67.1 67.5 60.1 60.5 53.2 55.4 49.3 65.1 50.0 48.5 37.6 34.4 35.9 32.3 (13.2) 22.6 22.0 12.5 13.2 12.0 9.5 13.1 12.7 12.1 11.8
Operating Expenses 60.9 (30.5) (28.6) 11.9 12.2 11.8 11.4 12.0 11.7 11.3 10.6 10.4 10.5 11.2 9.4 9.1 9.0 10.2 10.0 9.9 8.7 10.9 10.1 9.4 8.6 10.6 9.2 39.4 9.9 10.9 8.5 8.9 8.9 51.8 43.3 44.4 43.7 44.7 38.3 113.3 51.3 30.8 32.0 45.2 42.3 41.8 28.5 41.3 53.1 42.0 43.8 56.7 39.0 (69.7) 54.1 10.1 6.3 107.3 39.2 56.0 65.8 42.1 38.5 35.1 33.7 371.3 32.9 34.8 32.5 34.5 31.7 31.0 30.8 70.6 31.8 72.5 72.3 65.1 64.7 56.9 59.4 53.1 68.4 53.2 51.8 41.0 37.1 38.4 34.6 (11.0) 24.4 23.7 14.4 14.3 13.3 10.9 14.1 14.0 13.2 13.1
Operating Income
Operating Income 58.3 58.4 57.8 59.6 54.6 54.3 54.5 54.1 50.4 49.9 84.6 46.1 82.3 82.4 82.1 81.6 78.6 40.7 43.3 42.6 42.1 40.8 38.6 39.8 41.5 71.7 38.7 41.1 38.9 36.9 37.7 38.7 36.3 24.8 39.1 38.6 35.8 40.1 11.5 (27.0) 30.5 20.1 40.1 37.5 30.6 37.1 37.7 31.8 25.2 42.3 30.7 40.4 36.2 33.6 (8.9) 33.5 36.2 (38.8) 27.7 13.7 4.0 35.1 29.9 33.0 31.4 31.0 34.3 35.3 36.2 32.7 35.9 33.5 31.7 32.1 31.4 29.6 26.7 31.2 27.0 28.0 26.1 27.9 22.4 24.3 24.2 24.6 22.7 20.8 22.0 54.2 18.7 14.9 23.2 20.7 18.2 19.8 14.6 14.0 13.2 12.7
Interest Expense 24.0 24.3 20.9 20.9 20.5 22.0 20.4 20.6 20.8 21.6 17.8 16.5 16.4 16.8 15.1 14.1 14.4 14.8 15.7 15.9 17.5 14.6 17.2 16.8 16.8 14.6 17.1 18.5 18.7 16.5 19.2 18.9 18.8 16.3 19.6 19.2 19.0 14.1 18.3 22.6 23.6 17.9 24.1 21.8 20.8 18.6 24.8 23.5 20.8 9.7 19.3 21.1 20.3 16.5 23.2 24.2 24.4 22.9 24.4 25.6 26.1 26.9 26.2 25.6 22.6 23.1 20.9 18.6 19.4 23.4 22.5 21.2 21.9 0 21.0 20.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 4.0 0 0 1.2 1.6 6.7 3.3 2.9 4.1 0 2.5 2.1 2.3 3.3 0.6 0.8 1.9 0 1.8 2.2 1.9 3.3 1.7 2.3 1.2 1.9 1.8 1.8 2.3 0.1 1.5 1.4 1.4 1.5 1.5 1.6 1.7 1.6 1.4 1.3 1.2 1.3 0.7 1.2 1.3 1.1 1.2 1.3 1.3 0.9 0 2.0 0.9 4.0 1.1 0.8 1.2 0 0 2.8 0 7.6 0.4 0.2 1.3 0.2 2.6 1.3 1.1 0 0.6 0.2 0.2 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
Profitability
EBITDA 101.0 106.4 106.2 99.2 94.0 93.9 92.8 92.9 88.8 86.6 85.2 83.7 82.9 83.0 82.7 82.2 79.2 61.9 81.3 97.8 48.5 135.6 21.6 76.0 75.5 72.1 73.9 76.8 74.1 69.0 72.5 72.3 70.3 58.7 74.2 72.0 69.4 73.6 74.0 8.1 66.8 53.3 157.4 73.0 64.0 56.2 68.5 64.8 69.4 64.1 60.1 50.4 60.8 60.0 22.4 66.3 69.0 (33.4) 62.7 49.1 38.8 80.1 61.6 63.4 61.0 60.8 64.2 65.8 64.2 75.7 62.0 58.6 56.8 59.1 56.5 58.0 53.4 51.2 49.2 46.8 45.5 43.5 40.4 39.5 38.9 40.8 34.5 36.7 32.4 64.6 28.5 25.2 63.5 26.5 52.1 25.1 19.5 18.7 17.8 16.9
EBIT 58.3 64.1 65.6 59.6 54.6 54.5 54.5 54.1 50.4 49.9 47.0 46.1 45.3 45.5 46.9 46.8 44.3 24.9 44.1 59.2 10.7 98.4 (14.2) 41.9 42.4 38.9 38.7 41.5 38.9 32.4 37.7 40.1 37.6 24.1 39.1 38.1 35.8 40.1 41.5 (25.7) 31.6 16.5 118.4 38.7 31.9 24.5 38.6 33.1 38.2 36.7 30.3 20.9 32.0 30.8 (8.9) 34.0 37.3 (67.0) 26.1 16.5 5.2 44.1 30.2 33.3 32.7 31.2 36.9 36.5 37.2 48.0 36.5 33.7 31.9 32.1 30.5 29.7 26.7 31.2 27.0 28.0 26.1 27.9 22.4 24.3 24.2 24.6 22.7 20.8 22.0 54.2 18.7 16.7 56.3 20.7 46.4 19.8 14.6 14.0 13.2 12.7
Income Before Tax 40.3 42.5 44.4 40.3 36.3 36.4 37.5 36.4 33.8 34.9 (221.1) 31.8 80.5 52.3 32.4 33.6 31.4 11.6 28.4 43.2 (6.9) 83.8 (31.3) 25.2 25.6 (44.8) 23.1 109.4 22.5 18.3 20.0 21.1 18.8 5.6 21.6 18.9 18.9 26.9 29.3 (48.3) 8.1 (1.4) 94.3 16.9 11.0 6.0 13.8 9.3 5.7 30.0 11.0 (0.2) 14.0 14.4 (32.1) 9.7 12.9 (89.9) 1.7 (9.1) (20.9) 17.2 4.1 7.7 10.1 8.1 16.0 17.9 17.8 24.6 13.9 12.5 10.0 10.4 9.5 9.3 6.1 11.3 8.6 10.3 8.5 11.7 7.8 10.4 10.9 11.4 11.4 9.9 10.9 7.8 8.1 4.6 5.9 5.8 5.1 3.9 0 0 0 0
Income Tax Expense 0.1 0.1 0.6 0.1 0.1 (0.0) 0.1 0.0 0.2 0.1 0.2 0.2 0.1 0.2 0.1 0.0 0.2 0.0 0.0 0.0 0.0 0.3 0.0 0.0 0.0 0.1 (0.1) (0.2) 0.2 (0.2) (0.3) 0.1 0.1 1.0 0.1 0.0 0.0 0.3 0.0 0.0 (0.0) 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 1.9 0.0 0.0 0.0 (3.9) 0.1 0.0 0.2 (4.6) (0.5) (5.0) (0.5) 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 (0.1) 0.1 0.1 0.2 0.2 0.1 0.3 0.2 0.2 0.2 (0.3) 0.3 0.2 0.5 0.4 0.1 0.0 0.2 (0.3) 0.0 (0.2) (0.0) (0.1) 0.0 (0.1) 0 0 0 0
Net Income 38.6 37.5 41.7 38.3 34.7 35.1 36.1 35.1 32.6 33.7 (216.2) 30.3 78.8 50.5 30.9 32.3 59.3 13.7 27.1 42.4 (6.7) 81.7 (31.8) 23.5 24.1 42.8 21.1 106.4 20.8 16.9 18.6 19.3 17.0 10.0 20.5 7.5 21.0 24.7 27.3 (47.4) 6.8 59.4 89.8 15.8 13.4 4.9 22.7 7.9 4.7 87.0 (3.0) (5.4) 15.0 23.3 (19.2) 11.3 10.3 (82.2) 6.6 (24.2) (17.8) 15.5 8.8 8.5 9.9 9.1 14.5 16.6 16.1 21.5 12.2 12.2 10.7 9.9 11.4 7.9 5.5 9.6 20.6 9.1 9.9 10.3 10.6 9.1 9.0 9.4 9.8 8.8 9.0 8.1 6.2 6.0 5.9 5.9 5.1 3.7 4.1 3.7 3.7 3.6
Per Share Data
EPS (Basic) 0.34 0.33 0.37 0.34 0.31 0.31 0.32 0.31 0.29 0.30 -1.93 0.27 0.70 0.45 0.28 0.29 0.53 0.12 0.24 0.38 -0.06 0.73 -0.29 0.21 0.21 0.38 0.19 0.95 0.19 0.16 0.18 0.19 0.17 0.10 0.21 0.08 0.18 0.22 0.25 -0.54 0.03 0.59 0.91 0.12 0.10 0.01 0.22 0.02 0.00 0.12 -0.09 -0.15 0.11 0.32 -0.39 0.09 0.04 -1.17 0.04 -0.41 -0.33 0.26 0.08 0.08 0.10 0.16 0.18 0.22 0.23 0.45 0.19 0.17 0.14 0.21 0.16 0.08 0.03 0.21 0.34 0.13 0.16 0.28 0.19 0.15 0.15 0.28 0.12 0.13 0.15 0.29 -0.30 0.26 0.15 0.29 0.17 0.14 0.21 0.15 0.14 0.15
EPS (Diluted) 0.34 0.33 0.37 0.34 0.31 0.31 0.32 0.31 0.29 0.30 -1.93 0.27 0.70 0.45 0.27 0.29 0.53 0.12 0.24 0.38 -0.06 0.73 -0.29 0.21 0.21 0.38 0.19 0.94 0.19 0.16 0.18 0.19 0.17 0.10 0.21 0.08 0.18 0.22 0.25 -0.54 0.03 0.59 0.91 0.13 0.10 0.01 0.22 0.02 0.00 15.54 -0.09 -0.16 0.11 0.32 -0.39 0.09 0.04 -1.17 0.03 -0.42 -0.33 0.26 0.08 0.07 0.10 0.16 0.18 0.22 0.23 0.44 0.19 0.17 0.14 0.21 0.15 0.08 0.03 0.20 0.33 0.13 0.15 0.27 0.18 0.14 0.14 0.27 0.12 0.13 0.14 0.28 -0.30 0.24 0.14 0.28 0.16 0.14 0.20 0.14 0.14 0.14
Shares Outstanding 112.7 112.7 112.5 112.4 112.4 112.3 112.3 112.3 112.2 112.2 112.2 112.2 112.1 112.1 112.1 112.1 112.0 112.0 112.0 112.0 111.9 112.0 111.8 112.1 111.9 112.0 111.9 112.0 110.0 108.5 104.4 101.8 101.0 99.3 99.1 99.0 98.4 95.1 94.6 94.3 105.2 94.2 94.2 94.1 99.2 101.9 87.3 87.2 87.2 85.4 90.4 85.4 83.7 72.6 71.7 71.6 71.5 70.3 71.3 68.4 66.3 59.1 58.7 58.5 57.8 56.7 57.5 56.6 51.9 47.7 47.3 47.1 55.2 46.7 46.8 46.7 51.8 46.7 42.5 42.0 39.3 37.0 36.5 36.4 35.9 33.9 34.6 33.9 30.2 27.5 25.1 22.7 22.7 20.0 20.1 20.3 19.1 19.4 18.5 16.9
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 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 1998 Q4 1997 Q4 1997 Q2 1997 Q1 1996 Q4 1996 Q1 1995 Q4
Current Assets
Cash & Cash Equivalents 28.6 275.0 23.7 21.3 24.3 38.3 34.5 100.4 123.1 167.8 204.2 14.3 15.2 12.3 12.6 20.7 19.3 13.3 14.6 17.2 36.1 18.4 11.5 21.6 159.1 14.7 34.0 46.3 7.8 8.1 9.5 8.5 8.9 12.3 10.9 10.6 226.5 209.9 47.6 13.3 62.5 9.9 10.2 8.3 11.9 12.7 21.9 12.2 9.5 9.5 8.4 6.3 6.0 7.7 7.9 3.0 3.8 5.0 3.3 0.6 0.9 2.4 2.3 3.4 0 0 0 0 0
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 0.1 2.6 0 0 0 0 3.1 0 0.1 0 0.2 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 0.4 0.5 0.5 0.6 0.6
Net Receivables 304.5 306.0 292.5 294.4 290.3 273.4 285.0 287.2 286.4 279.7 269.8 270.5 261.8 253.1 266.4 237.5 240.0 231.9 195.6 193.5 197.6 186.0 179.2 155.5 156.5 168.8 168.5 181.0 154.4 172.6 164.1 167.7 170.8 142.4 131.6 153.2 140.8 153.3 138.8 138.0 139.3 12.6 14.0 17.5 13.8 12.7 71.6 36.9 28.4 30.9 21.7 21.9 17.2 18.6 15.2 14.7 14.9 11.9 11.5 9.4 7.5 6.6 5.2 0.6 0 0 0 0 0
Inventory 0 0 0 0 0 0 0 0 0 (2.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) (0.1) (2.6) 0 0 0 0 (3.1) 0 (0.1) 0 (0.2) 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
Other Current Assets 0 103.2 (79.8) 57.0 63.2 81.6 95.1 79.2 92.5 84.6 86.5 77.0 83.2 232.2 3.8 4.9 4.5 196.8 109.2 82.2 86.8 293.9 105.0 83.2 87.5 95.8 162.5 135.4 84.1 3.9 45.7 46.3 45.9 127.0 167.6 124.7 118.7 179.6 248.9 369.3 298.2 96.4 93.1 6.4 85.0 128.1 (151.8) (49.1) (37.9) (54.7) (30.0) (28.2) (34.5) (26.3) (23.1) (17.6) (18.7) (16.9) (14.7) (10.0) (8.3) (8.9) (7.6) (4.0) (0.4) (0.5) (0.5) (0.6) (0.6)
Total Current Assets 333.1 684.2 236.4 372.7 377.8 393.3 414.5 466.8 502 529.6 560.5 361.8 360.2 523.3 314.8 276.3 281.8 465.9 319.4 292.9 320.7 498.3 295.7 260.3 403.1 279.3 365.1 362.8 248.9 240.3 282.8 267.0 273.7 284.7 310.1 288.6 486.0 542.9 435.3 520.6 500.0 118.9 117.3 114.1 110.7 242.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Non-Current Assets
Property, Plant & Equipment 0 50.4 54.3 53.3 54.4 55.8 40.5 40.9 40.4 41.3 43.1 44.3 45.4 47.5 48.6 49.3 50.0 50.2 3,696.1 3,620.1 3,669.6 3,453.7 3,674.0 3,593.6 3,495.5 3,417.0 3,334.5 2,973.7 3,151.7 3,259.3 2,994.0 2,957.2 2,924.5 2,905.5 2,886.3 2,913.9 2,902.3 2,883.0 2,834.8 2,966.2 3,064.3 3,130.5 3,065.0 3,029.9 2,854.1 2,809.4 2,584.9 1,331.6 1,289.1 1,189.3 1,131.7 1,070.0 1,044.6 1,063.0 861.0 793.8 774.1 751.7 744.6 728.1 708.9 696.5 546.9 188.6 22.8 22.9 23.1 23.5 23.6
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 0 0 0 0 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 10.7 0 0 0 6.9 0 0 0 10.0 11.8 12.5 13.4 14.6 15.8 17.0 18.1 19.2 22.4 24.8 26.1 27.4 29.5 31.2 33.2 43.5 47.1 50.6 54.6 59.1 64.1 69.2 73.7 78.4 84.1 88.8 93.5 96.2 94.9 100.7 81.1 85.8 116.4 53.9 55.6 55.7 0 0 28.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 3,838.8 36.4 0 38.6 39.0 39.4 39.7 40.1 40.6 41.1 41.5 41.9 42.3 21.5 50.6 51.1 51.6 51.6 45.9 46.2 34.5 34.8 56.1 57.2 57.9 58.7 55.6 71.4 45.2 45.8 45.4 45.9 43.7 46.8 27.6 27.8 27.8 27.9 25.7 0 1.6 0 0 0 0 0 0 1.6 1.6 1.6 1.6 1.6 1.6 2.1 1.9 2.0 2.2 6.1 4.1 4.1 4.4 3.7 2.4 0 0 0 0 0 0
Other Non-Current Assets 287.1 3,930.9 (2.4) 3,822.4 3,779.2 3,755.1 3,739.5 3,671.5 3,649.9 3,635.1 3,596.7 3,801.0 3,732.7 3,664.1 3,842.0 3,794.3 3,733.5 3,678.3 74 75.9 70.0 70.9 71.9 75.5 71.9 72.0 70.7 364.4 297.0 67.2 281.1 291.7 299.8 299.0 271.7 275.4 249.6 248.7 254.3 266.1 278.5 121.8 121.2 135.4 152.7 0 (2,701.3) (1,387.1) (1,346.3) (1,246.6) (1,133.3) (1,071.6) (1,074.7) (1,065.1) (862.9) (795.8) (776.3) (757.9) (748.6) (732.2) (713.3) (700.2) (549.2) (188.6) (22.8) (22.9) (23.1) (23.5) (23.6)
Total Non-Current Assets 4,125.9 4,017.6 51.8 3,914.2 3,872.5 3,860.9 3,819.8 3,752.5 3,730.9 3,717.4 3,678.7 3,884.6 3,817.8 3,734.0 3,954.5 3,908.9 3,850.2 3,796.6 3,831.7 3,759.1 3,792.3 3,578.7 3,824.5 3,751.0 3,651.4 3,575.1 3,490.3 3,440.6 3,527.0 3,415.7 3,367.6 3,345.4 3,322.6 3,310.5 3,249.7 3,286.3 3,253.4 3,238.0 3,198.9 3,321.1 3,437.9 3,348.4 3,281.1 3,265.9 3,088.0 2,895.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Assets 4,458.9 4,701.8 4,351.4 4,286.9 4,250.3 4,254.2 4,234.3 4,219.3 4,232.9 4,247.0 4,239.3 4,246.3 4,178.0 4,257.3 4,269.3 4,185.2 4,132.0 4,262.5 4,151.1 4,052.0 4,112.9 4,077.0 4,120.2 4,011.3 4,054.5 3,854.5 3,855.4 3,803.5 3,775.9 3,656.0 3,650.4 3,612.4 3,596.2 3,595.2 3,559.8 3,574.9 3,739.4 3,780.9 3,634.2 3,841.7 3,937.9 3,467.3 3,398.4 3,380.0 3,198.7 3,137.3 2,916.0 1,490.7 1,432.0 1,332.1 1,216.9 1,147.8 1,138.7 1,129.3 914.8 848.8 821.7 794.8 784.9 760.2 734.8 721.0 563.7 193.5 23.9 24 24.2 24.7 24.8
Current Liabilities
Account Payables 117.0 147.2 0 106.7 98.0 126.0 134.1 122.2 112.0 133.3 135.6 135.8 128.5 158.0 156.8 177.2 145.0 186.2 176.6 127.0 96.5 142.7 140.9 149.8 128.4 148.7 141.2 152.2 112.1 92.9 90.2 88.9 95.7 108.1 121.5 95.3 83.1 108.7 112.3 92.8 78.6 84.2 86.7 116.5 142.7 111.1 1,679.9 857.9 859.0 761.8 749.9 720.0 716.7 718.5 517.6 489.4 489.8 484.6 472.1 447.9 420.1 406.2 310.2 115.3 0 0 0 0 0
Short-Term Debt 52.3 150 0.5 120 95 75 75 75 75 75 75 171 118 211 273 181 160 76 10 169 0 143 57 169 242 177 220 163 262 213 99 170 153 126 170 194 0 0 0 58 107 119.6 0 2,053.8 0 0 0 0 0 0 0 0 104.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 47.9 85.6 43.7 77.1 80.5 78.3 70.9 70.7 71.6 64.5 56.7 41.2 43.7 41.0 38.4 36.2 37.3 41.6 40.8 40.5 41.1 44.3 38.9 39.3 40.3 41.0 35.6 35.6 34.0 39.2 33.2 35.7 37.8 37.3 38.3 38.6 40.1 42.5 38.6 49.6 52.5 0 13.8 14.9 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
Other Current Liabilities (201.9) 0 163.9 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 28.3 51.6 (2,008.1) 29.9 45.1 (1,702.4) (871.5) (872.0) (773.9) (760.3) (729.8) (831.2) (728.3) (526.0) (497.3) (497.0) (491.7) (479.2) (454.7) (426.9) (412.5) (314.9) (116.6) 0 0 0 0 0
Total Current Liabilities 52.3 418.0 208.0 339.1 308.8 313.3 313.9 301.8 292.5 305.4 299.9 380.6 322.8 441.4 499.7 425.7 373.7 335.1 258.7 367.8 168.9 361.2 268.1 389.4 442.0 398.0 428.2 382.2 439.5 375.9 252.9 324.0 315.7 300.4 358.2 356.3 154.4 182.5 181.2 230.7 268.4 260.7 180.7 205.5 199.7 192.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Non-Current Liabilities
Long-Term Debt 2,500.5 2,617.8 2,443.1 2,318.6 2,317.7 2,316.8 2,315.8 2,314.9 2,341.9 2,341.3 2,340.8 2,005.2 2,005.0 2,020.8 1,996.8 1,996.8 1,996.8 2,196.3 2,149.7 1,940.6 2,207.9 1,943.9 2,124.6 1,843.0 1,834.8 1,654.1 1,642.3 1,621.4 1,614.1 1,610.9 1,709.0 1,701.4 1,701.9 1,702.3 1,703.3 1,703.7 1,903.7 1,904.0 1,873.8 2,036.5 2,033.2 2,062.7 2,107.1 2,053.8 1,831.7 1,868.6 1,799.9 820.3 829.8 738.7 736.1 708.0 705.1 710.0 508.7 476.0 478.9 474.3 465.7 436.7 412.2 399.6 306.8 114.4 14.5 14.6 14.9 14.9 14.9
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 0 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 228.5 33.2 30.5 12.9 13.8 14.4 15.9 15.5 16.4 19.0 17.9 27.7 21.0 18.6 17.6 10.5 14.5 17.7 16.3 16.3 (7.7) (11.4) (2.3) 47.6 38.8 2.7 15.6 6.9 (3.6) (14.2) 29.5 28.3 34.5 59.6 17.6 30.6 27.4 47.0 26.8 19.3 (3.3) 19.3 0 (14.9) 11.9 0 (1,812.4) (828.7) (838.5) (748.3) (746.6) (719.1) (705.1) (710.0) (508.7) (476.0) (478.9) (474.3) (465.7) (436.7) (412.2) (399.6) (306.8) (114.4) (14.5) (14.6) (14.9) (14.9) (14.9)
Total Non-Current Liabilities 2,814.8 2,696.1 2,564.2 2,378.9 2,379.7 2,380.4 2,365.4 2,364.3 2,391.4 2,394.2 2,391.7 2,066.8 2,060.9 2,068.1 2,043.6 2,036.7 2,041.0 2,243.4 2,195.6 1,986.9 2,261.3 1,996.7 2,178.9 1,941.8 1,924.3 1,707.8 1,702.5 1,672.4 1,652.8 1,626.8 1,762.3 1,755.3 1,774.7 1,803.4 1,763.5 1,776.0 1,959.4 1,980.8 1,929.4 2,087.9 2,063.3 2,095.0 2,107.1 2,053.8 1,852.5 1,868.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Liabilities 2,867.1 3,114.1 2,772.2 2,718.0 2,688.5 2,693.6 2,679.3 2,666.1 2,683.9 2,699.6 2,691.6 2,447.4 2,383.7 2,509.5 2,543.2 2,462.5 2,414.7 2,578.5 2,454.4 2,354.7 2,430.2 2,357.9 2,447.0 2,331.3 2,366.4 2,105.8 2,130.7 2,054.6 2,092.3 2,002.7 2,015.2 2,079.3 2,090.4 2,103.8 2,121.7 2,132.3 2,113.8 2,136.7 2,110.6 2,318.5 2,331.7 2,355.7 2,287.8 2,259.4 2,052.3 2,060.7 1,951.6 899.0 896.2 801.9 785.4 757.1 749.3 738.5 545.3 514.2 513.5 495.5 484.6 459.0 431.1 416.3 317.7 116.9 14.9 14.9 15 15.2 15.2
Stockholders' Equity
Common Stock 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.0 1.0 1.0 1.0 1.0 1.0 1.0 0.9 0.9 0.9 0.6 0.6 0.6 0.6 0.5 0.5 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.0 0 0 0 0 0
Retained Earnings (986.7) (989.0) (991.9) (999.2) (1,003.1) (1,003.4) (1,005.3) (1,008.1) (1,010.0) (1,009.3) (1,010.9) (762.6) (760.8) (807.5) (827.1) (827.1) (828.5) (856.9) 0 0 0 0 0 0 0 0 (790.2) (780.7) (856.7) (846.8) (833.5) 0 (813.3) 0 (800.3) (793.8) (774.4) (765.3) (759.3) (756.9) (679.9) (246.0) (227.2) (209.9) (179.7) (170.7) (116.0) (44.6) (41.1) (38.5) (34.6) (20.8) (21.1) (19.4) (13.6) (12.8) (12.2) (11.1) (10.4) (9.3) (8.4) (7.5) (7.2) (5) (3.4) (3.3) (3.2) (2.9) (2.8)
Accumulated Other Comprehensive Income 0.0 (0.1) 0.1 0.3 0.4 1.0 0.1 3.6 3.8 2.1 0 0 0 0 0 0 0 0 (845.0) (842.3) (854.8) (819.0) (871.2) (862.5) (852.8) (803.7) (34.6) (23.5) (9.5) (847.0) (823.4) (813.3) (806.1) (799.9) (801.1) (795.0) (774.8) (767.0) (775.6) (774.7) (692.8) (4.3) (3.3) (1.9) (1.2) (3.3) (1.2) (0.1) (0.3) (0.3) (0.7) (0.6) (0.3) (0.6) (2.6) (1.5) (1.3) 0 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 1,514.8 1,514.8 1,507.0 1,497.7 1,490.9 1,493.1 1,489.3 1,486.6 1,482.5 1,483.9 1,486.1 1,730.7 1,726.2 1,681.8 1,661.4 1,657.0 1,651.9 1,622.7 1,636.5 1,637.2 1,623.1 1,661.0 1,609.2 1,616.6 1,625.0 1,679.0 1,656.4 1,672.3 1,610.4 1,585.4 1,568.2 1,442.2 1,416.4 1,402.1 1,349.9 1,352.1 1,535.0 1,523.1 1,433.2 1,432.7 1,512.8 1,019.5 1,014.2 1,027.5 1,049.7 975.1 832.8 501.2 451.1 450.4 350.2 289.7 288.5 290.0 264.2 231.1 203.9 193.7 194.4 198.1 198.8 192.1 168.8 11.7 9 9.1 9.2 9.5 9.6
Total Liabilities & Equity 4,458.9 4,701.8 4,351.4 4,286.9 4,250.3 4,254.2 4,234.3 4,219.3 4,232.9 4,247.0 4,239.3 4,246.3 4,178.0 4,257.3 4,269.3 4,185.2 4,132.0 4,262.5 4,151.1 4,052.0 4,112.9 4,077.0 4,120.2 4,011.3 4,054.5 3,854.5 3,855.4 3,803.5 3,775.9 3,656.0 3,650.4 3,612.4 3,596.2 3,595.2 3,559.8 3,574.9 3,739.4 3,780.9 3,634.2 3,841.7 3,937.9 3,467.3 3,398.4 3,380.0 3,198.7 3,137.3 2,916.0 1,490.7 1,432.0 1,332.1 1,216.9 1,147.8 1,138.7 1,129.3 914.8 848.8 821.7 794.8 784.9 760.2 734.8 721.0 563.7 193.5 23.9 24 24.2 24.7 24.8
Debt Metrics
Total Debt 2,590.7 2,812.8 2,490.4 2,486.0 2,460.9 2,441.0 2,424.5 2,423.7 2,450.4 2,450.2 2,449.6 2,210.9 2,158.8 2,260.6 2,298.9 2,105.5 2,186.5 2,301.6 2,194.9 2,146.2 2,245.7 2,127.2 2,218.9 2,099.1 2,158.1 1,874.8 1,879.0 1,801.0 1,905.8 1,829.4 1,808.7 1,872.1 1,866.7 1,844.2 1,890.0 1,914.5 1,904.4 1,905.6 1,891.1 2,114.7 2,155.3 2,182.4 2,107.1 4,107.7 1,831.7 1,868.6 1,799.9 820.3 829.8 738.7 736.1 708.0 809.8 710.0 508.7 476.0 478.9 474.3 465.7 436.7 412.2 399.6 306.8 114.4 14.5 14.6 14.9 14.9 14.9
Net Debt 2,562.1 2,537.9 2,466.8 2,464.7 2,436.6 2,402.7 2,390.0 2,323.3 2,327.3 2,282.4 2,245.3 2,196.7 2,143.6 2,248.2 2,286.3 2,084.8 2,167.2 2,288.4 2,180.4 2,129.0 2,209.6 2,108.8 2,207.5 2,077.5 1,999.1 1,860.1 1,880.6 1,778.8 1,898.0 1,821.3 1,799.2 1,863.6 1,857.8 1,831.9 1,879.1 1,903.9 1,677.9 1,695.7 1,843.5 2,101.4 2,092.8 2,172.5 2,097.0 4,099.4 1,819.8 1,855.9 1,778.0 808.1 820.2 729.2 727.8 701.7 803.8 702.4 500.8 473.0 475.1 469.4 462.4 436.0 411.3 397.2 304.5 111.0 14.5 14.6 14.9 14.9 14.9
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 1996 Q4 1996 Q1 1994 Q3 1994 Q1 1993 Q4
Operating Activities
Net Income 38.6 39.4 41.7 40.2 34.7 36.5 36.1 36.4 33.7 33.7 (221.2) 31.6 80.4 52.1 32.3 32.3 60.8 24.2 28.8 43.9 (6.1) 80.3 (31.3) 23.5 25.6 42.8 21.3 106.8 20.9 17.0 18.7 19.4 17.1 9.6 20.6 17.5 21.0 24.7 27.3 (47.4) 6.8 10.6 9.1 9.0 8.8 9.0 8.1 8.6 6.2 8.0 5.8 6.2 5.9 5.3 5.9 5.4 5.0 4.1 3.8 3.8 3.6 4.0 4.1 3.7 4.2 2.9 1.4 0.9 (0.5) (1.3) 0.1 0.1 0.1 0.1 0.1
Depreciation & Amortization 42.7 41.9 40.6 40.0 39.4 39.4 38.3 38.2 39.0 36.7 38.2 38.2 37.6 37.5 35.8 0.0 34.9 34.5 37.2 38.6 37.9 33.8 35.8 34.1 33.0 33.2 35.2 35.3 35.2 36.6 34.8 33.6 34.0 34.5 35.0 33.4 33.6 33.4 32.5 33.8 35.1 18.0 15.3 14.7 15.9 10.4 10.4 9.5 9.2 8.1 8.5 7.9 7.2 7.2 5.9 4.4 5.6 4.5 4.3 4.3 3.9 2.6 3.3 3.2 3 (1.0) 4.9 1.4 1 0.9 0.2 0.1 0.1 0.1 0.1
Stock-Based Compensation 0 (0.5) 0 (0.6) 2.9 2.6 0 2.6 2.6 2.3 2.3 2.2 1.7 2.2 2.2 2.2 2.1 0 2.0 2.0 1.9 0 1.7 1.6 1.4 1.7 1.7 1.6 1.7 1.6 1.6 1.6 1.5 1.5 1.3 1.3 1.5 1.2 1.8 1.7 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
Change in Working Capital 13.7 (14.3) (16.2) 8.1 (4.0) 6.5 (11.8) 14.4 (6.3) (4.5) (13.9) 16.0 (5.6) (2.4) (21.0) 20.7 (10.9) (14.2) (3.3) 30.5 (20.1) 13.6 (37.3) 8.1 3.6 6.8 (3.7) (27.0) (5.7) (3.9) (14.2) 6.4 16.4 (2.2) (1.9) (6.4) 20.5 (6.8) (23.7) 1.2 6.4 (10.8) 9.3 (0.5) (4.6) (4.2) (6.0) 3.0 (2.1) (0.5) 4.8 (3.6) 2.8 (5.0) 1.3 (2.1) 3.7 (5.6) (5.8) (2.9) 3.8 3.3 (6.8) 4.6 (2.4) 1.1 (2.4) 0.8 (1.2) 0 0.4 0.2 (0.2) 0 0.2
Other Non-Cash Items 1.5 18.0 24.4 0.2 (0.9) 16.1 2.4 2.3 2.0 3.1 10.5 (5.9) (6.0) (10.7) (0.9) 17.9 (34.2) 5.2 (2.8) (17.7) 27.1 (38.9) 53.7 7.0 (1.3) (13.0) (9.2) (59.6) 2.6 7.4 0.1 (6.5) (42.9) 17.2 (3.1) 11.6 (16.5) 10.0 7.6 87.6 (3.0) (1.7) 1.6 1.8 1.5 2.3 1.9 2.1 1.9 (0.4) 1.3 2.2 1.4 4.4 3.4 3.6 0.9 5.0 4.3 3.8 0.2 1.1 5.6 (2.1) 1.7 2.5 (1) 0.6 1.7 3.0 (0.5) (0.1) 0.1 0 (0.2)
Operating Cash Flow 96.4 84.4 90.5 87.9 72.1 101.1 65.1 93.8 71.0 66.6 68.7 82.2 58.7 78.7 48.4 86.0 52.7 49.7 61.9 97.3 40.7 88.8 22.5 74.3 62.2 71.5 45.2 57.2 54.7 58.8 41.0 54.5 26.2 60.7 51.9 57.4 60.1 62.6 45.6 77.0 47.4 16.1 35.2 24.9 21.6 17.4 14.3 23.1 15.2 15.2 20.4 12.6 17.3 11.9 16.5 11.3 15.1 8.0 6.6 8.9 11.5 11.0 6.2 9.4 6.5 5.5 2.9 3.7 1 2.6 0.2 0.3 0.1 0.2 0.2
Investing Activities
Capital Expenditure (18.9) (23.5) (20.8) (3.4) (6.9) (8.8) (18.2) (25.3) (23.7) (7.2) (5.3) (2.5) (5.5) (7.7) (7.1) (17.8) (14.5) (17.1) (6.9) (6.4) (6.0) (13.3) (13.2) 0 (5.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (106.5) (89.5) (85.0) (54.4) (60.0) (13.2) (81.7) (75.6) (26.4) (10.5) (67.0) (42.7) (19.3) (71.0) (28.4) (25.6) (16.0) (12.8) (22.0) (14.3) (82.1) (13.2) (43.5) (13.9) (83.7) (1.1) (95.7) (0.1) 0 0 0 0 (7.7) (3.5)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 73.9 (118.0) 0 80.4 (35.5) 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 1.2 (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 0 0 0 0 0
Purchases of Investments 0 0 (37.6) 0 0 0 (79.5) (27.0) (55.1) (54.8) (65.7) (74.1) (71.3) 0 (80.4) (51.1) 0 (97.2) 0 0 0 (60.0) 0 0 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) (0.0) (4.7) (1.8) (2.2) (0.9) (0.3) (0.6) (0.8) (0.4) (5.0) (2.1) (11.2) 2.7 (8.7) 0.2 (0.7) 0 0 0 0 0 0 0 0 0 (0.5) 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0.2 189.3 0 0.0 (0.0) 0 29.1 0 0 0 143.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (6.3) 7.3 2.5 1.4 0 0 0 0 0 0 0 0 0 0 16.8 0 0 0 0 1.4 0.5 0 0 0 0
Other Investing Activities (82.3) (109.8) 5.3 (79.0) (62.6) (53.1) 3.6 (1.0) (0.1) (5.8) (14.4) (99.1) 90.7 6.7 (110.2) (0.4) 118.7 0.9 (74.5) 48.6 (66.9) (4.2) (155.7) (112.8) (109.0) (29.1) (95.3) 107.5 (121.2) (80.2) (55.9) (62.0) (34.8) (36.9) 6.3 (60.8) 2.0 (6.5) 182.1 (48.1) (56.1) 92.2 0.2 (1.7) 1.2 (4.4) 0.4 (0.2) 2.2 31.1 10.3 2.9 (3.0) (2.0) 2.1 4.5 (1.6) 6.1 (1.8) (5.2) (0.8) 35.3 (36.3) 14.1 (3) (1.7) (1.3) 0.3 (0.6) (0.8) 0 0 0 0 (0.1)
Investing Cash Flow (82.3) (109.8) (56.4) (79.0) (69.5) (61.9) (96.9) (53.3) (78.9) (67.8) (85.4) (101.6) 85.2 (1.0) (117.3) (104.8) 104.2 (91.4) (81.4) 42.2 (72.8) 61.0 (168.9) (112.8) (114.5) (29.1) (95.3) 107.5 (121.2) (80.2) (55.9) (62.0) (34.8) (36.9) 6.3 (60.8) 2.0 (6.5) 182.1 (48.1) (56.1) (13.0) (90.5) (86.7) (53.6) (64.4) (17.5) (83.6) (75.5) 3.8 (6.9) (57.4) (44.0) (20.2) (73.9) (26.0) (38.4) (7.2) (23.3) (26.9) (15.8) (46.8) (49.5) (29.4) (0.1) (85.4) (2.4) (95.4) (0.7) 0.6 0 0 0 (7.7) (3.6)
Financing Activities
Net Debt Issuance (222.4) 313.5 3.5 24.5 19.5 (0.5) (0.4) (28.3) (0.8) (0.8) 239.6 52.3 (109.7) (37.9) 91.1 20.2 (116.8) 110.1 48.6 (125.2) 87.9 (96.5) 166.0 (66.3) 245.6 (32.5) 77.3 (92.8) 51.3 15.1 (60.8) 4.8 21.7 (45.0) (25.0) (7.0) (1.0) 29.0 (161.5) (46.2) 61.6 (66.5) 86.2 69.1 (14.0) 59.6 (37.2) 23.1 28.0 (14.1) (5.0) 60.5 42.6 (2.5) 64.6 (7.1) 4.1 8.7 25.9 26.9 9.5 46.3 13.7 27.3 (0.1) 82.9 1.3 23.7 (0.1) (0.1) (0.1) (0.1) (0.3) 4.6 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.4 0 0 0 (7.2) 0 (0.1) 0 0 (0.1) (0.1) (1.8) (0.1) (0.1) (0.2) (1.3) (0.1) 0 (0.1) (1.8) (0.3) (0.7) (0.3) (0.0) 0 0 0 0 0 (101.5) 0 0 0 0 0 0 0 0 0 0 0 0 (1.4) (0.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.5)
Dividends Paid 0 (34.4) (34.4) (34.4) (33.3) (33.3) (33.2) (33.2) (32.1) (32.1) (32.1) (32.1) (30.9) (30.9) (30.9) (30.9) (30.9) (30.9) (30.9) (30.9) (30.9) (30.9) (30.8) (30.9) (30.8) (30.8) (30.8) (30.8) (30.3) (29.9) (28.4) (28.1) (27.9) (27.4) (27.3) (33.1) (30.7) (29.6) (29.6) (29.6) (29.6) (15.4) (15.3) (15.3) (13.7) (12.8) (12.2) (10.8) (10.7) (10.2) (10.2) (9.9) (9.8) (9.4) (8.7) (8.2) (7.4) (7.2) (6.9) (6.9) (6.4) (5.9) (4.8) (4.7) (4.7) (3.0) (5) 0.7 (1.3) (0.2) (0.2) (0.2) (0.3) (0.3) (0.3)
Other Financing Activities (37.8) (2.1) (1.8) (1.6) (2.4) (1.4) (1.4) (1.4) (3.5) (1.9) (1.8) (1.3) (2.9) (8.8) (0.6) (4.1) (2.7) (40.7) (1.9) (1.9) (6.6) (7.9) 0.1 (1.3) (17.8) 1.5 (9.6) (2.0) (1.1) (4.5) (5.5) (1.4) (7.6) 1.1 (6.5) (1.1) (5.9) (2.3) (1.7) (1.9) (20.1) (1.3) (1.9) (0.2) 2.8 (1.9) 101.6 52.2 (34.6) 5.1 (0.2) (3.1) (7.2) (5.8) (0.1) 0.9 (1.1) (0.5) 0.2 (0.9) (0.3) 26.3 29.1 0 (0.3) 0.1 0.5 69.9 0.1 (0.1) 0 0.1 0.1 (0.1) 2.5
Financing Cash Flow (260.2) 276.9 (32.7) (11.5) (16.2) (35.2) (35.1) (63.0) (36.4) (34.8) 205.7 18.9 (143.5) (77.6) 59.7 (14.9) (150.4) 40.9 15.9 (158.1) 50.4 (142.4) 135.2 (98.5) 197.0 (61.8) 36.8 (125.7) 66.3 20.4 15.3 7.5 6.3 (21.6) (58.9) (212.1) (46.0) 106.2 (193.4) (78.0) 10.8 (7.2) 70.6 54.2 34.7 47 (0.7) 65.6 62.4 (18.6) (15.2) 48.2 26.7 6.0 56.1 19.5 22.4 0.9 19.3 17.8 2.8 37.3 38 22.6 (5.1) 80.4 (3.7) 94.3 (1.3) (0.4) (0.3) (0.2) (0.5) 4.2 2.2
Cash Position
Net Change in Cash (246.4) 251.6 2.4 (2.7) (13.7) 4.0 (66.0) (22.7) (44.7) (36.4) 189.0 (0.6) 0.4 0.1 (9.2) 1.4 6.5 (1.3) (3.6) (18.5) 18.2 6.9 (11.2) (137.0) 144.8 (19.4) (13.2) 39.0 (0.2) (1.0) 0.4 0.0 (2.3) 2.2 (0.7) (215.4) 18.9 162.3 34.3 (49.2) 2.2 (4.1) 15.3 (7.6) 2.7 0.1 (3.9) 5.0 2.1 0.3 (1.7) 3.4 0.0 (2.4) (1.2) 4.9 (0.8) 1.7 2.6 (0.2) (1.5) 1.4 0 0 (2.3) 0 0 0 (3.4) 0 0 (0.3) 0 (3.6) 0
Cash at Beginning 275.0 24.8 21.3 26.0 39.7 35.7 100.4 123.1 167.8 204.2 16.3 16.9 16.5 16.4 25.6 19.3 17.3 14.6 21.8 40.3 22.0 11.5 25.9 162.9 18.1 37.5 50.7 11.8 11.9 12.9 12.6 12.5 14.8 12.6 13.3 228.8 209.9 47.6 13.3 62.5 60.3 21.5 6.2 13.8 9.5 9.5 13.4 8.4 6.3 6.0 7.7 4.3 4.2 6.6 7.9 3.0 3.8 3.3 0.6 0.9 2.4 1 0 0 2.3 0 0 0 3.4 0 0 0.3 0 3.6 0
Cash at End 28.6 276.4 23.7 23.4 26.0 39.7 34.5 100.4 123.1 167.8 205.3 16.3 16.9 16.5 16.4 20.7 23.8 13.3 18.1 21.8 40.3 18.4 14.7 25.9 162.9 18.1 37.5 50.7 11.8 11.9 12.9 12.6 12.5 14.8 12.6 13.3 228.8 209.9 47.6 13.3 62.5 17.3 21.5 6.2 12.2 9.5 9.5 13.4 8.4 6.3 6.0 7.7 4.3 4.2 6.6 7.9 3.0 5.0 3.3 0.6 0.9 2.4 0 0 0 0 0 0 0 0 0 0 0 0 0
Free Cash Flow 77.5 61.0 69.7 84.5 65.1 92.3 46.8 68.5 47.3 59.4 63.4 79.6 53.2 71.0 41.3 68.2 38.2 32.6 55.0 90.9 34.7 75.5 9.3 74.3 56.8 71.5 45.2 57.2 54.7 58.8 41.0 54.5 26.2 60.7 51.9 57.4 60.1 62.6 45.6 77.0 47.4 (90.4) (54.3) (60.0) (32.8) (42.6) 1.1 (58.6) (60.3) (11.3) 9.9 (54.3) (25.4) (7.4) (54.4) (17.0) (10.5) (8.0) (6.2) (13.1) (2.8) (71.2) (7) (34.1) (7.4) (78.2) 1.8 (92) 0.9 2.1 0.2 0.3 0.1 (7.5) (3.3)
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 200.6 197.4 188.8 189.9 187.9 183.4 189.2 187.3 193.3 179.7 168.5 169.2 167.4 175.5 182.8 186.1 196.4 163.7 166.9 157.2 154.4 164.0 154.8 144.8 145.8 158.2 159.8 175.5 149.3 140.1 137.8 147.1 155.8 164.9 157.4 151.8 140.2 142.7 142.7 145.9 144.3 143.3 150.8 170.4 161.1 147.0 153.2 139.8 146.7 130.7 131.9 136.7 126.3 137.5 129.6 127.7 132.2 130.0 126.7 137.1 137.5 151.4 124.7 132.8 149.6 176.6 199.5 208.3 181.0 168.1 191.1 120.4 107.6 102.7 105.1 102.1 99.1 96.3 91.7 84.9 85.5 80.9 90.8 77.5 76.0 65.6 59.7 59.2 56.6 43.2 43.1 38.7 37.6 35.0 31.5 30.7 28.7 28.0 26.4 25.9
Gross Profit 119.2 27.9 29.2 71.6 66.8 66.1 65.9 66.2 62.2 61.2 95.2 56.4 92.8 93.6 91.6 90.7 87.5 50.9 53.3 52.5 50.8 51.7 48.7 49.2 50.1 82.3 82.3 86.6 83.6 81.7 80.4 80.7 78.7 81.5 82.2 80.9 79.2 82.2 82.4 86.3 81.7 87.1 85.7 82.7 72.9 79.0 76.6 72.9 78.3 76.9 74.2 75.9 72.4 (36.1) 45.2 43.6 42.5 68.6 66.9 69.8 69.8 77.2 68.3 68.1 65.1 402.3 67.1 70.1 68.7 67.2 67.6 64.5 62.6 0 63.2 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
Operating Income 58.3 58.4 57.8 59.6 54.6 54.3 54.5 54.1 50.4 49.9 84.6 46.1 82.3 82.4 82.1 81.6 78.6 40.7 43.3 42.6 42.1 40.8 38.6 39.8 41.5 71.7 38.7 41.1 38.9 36.9 37.7 38.7 36.3 24.8 39.1 38.6 35.8 40.1 11.5 (27.0) 30.5 20.1 40.1 37.5 30.6 37.1 37.7 31.8 25.2 42.3 30.7 40.4 36.2 33.6 (8.9) 33.5 36.2 (38.8) 27.7 13.7 4.0 35.1 29.9 33.0 31.4 31.0 34.3 35.3 36.2 32.7 35.9 33.5 31.7 32.1 31.4 29.6 26.7 31.2 27.0 28.0 26.1 27.9 22.4 24.3 24.2 24.6 22.7 20.8 22.0 54.2 18.7 14.9 23.2 20.7 18.2 19.8 14.6 14.0 13.2 12.7
Net Income 38.6 37.5 41.7 38.3 34.7 35.1 36.1 35.1 32.6 33.7 (216.2) 30.3 78.8 50.5 30.9 32.3 59.3 13.7 27.1 42.4 (6.7) 81.7 (31.8) 23.5 24.1 42.8 21.1 106.4 20.8 16.9 18.6 19.3 17.0 10.0 20.5 7.5 21.0 24.7 27.3 (47.4) 6.8 59.4 89.8 15.8 13.4 4.9 22.7 7.9 4.7 87.0 (3.0) (5.4) 15.0 23.3 (19.2) 11.3 10.3 (82.2) 6.6 (24.2) (17.8) 15.5 8.8 8.5 9.9 9.1 14.5 16.6 16.1 21.5 12.2 12.2 10.7 9.9 11.4 7.9 5.5 9.6 20.6 9.1 9.9 10.3 10.6 9.1 9.0 9.4 9.8 8.8 9.0 8.1 6.2 6.0 5.9 5.9 5.1 3.7 4.1 3.7 3.7 3.6
EPS (Diluted) 0.34 0.33 0.37 0.34 0.31 0.31 0.32 0.31 0.29 0.30 -1.93 0.27 0.70 0.45 0.27 0.29 0.53 0.12 0.24 0.38 -0.06 0.73 -0.29 0.21 0.21 0.38 0.19 0.94 0.19 0.16 0.18 0.19 0.17 0.10 0.21 0.08 0.18 0.22 0.25 -0.54 0.03 0.59 0.91 0.13 0.10 0.01 0.22 0.02 0.00 15.54 -0.09 -0.16 0.11 0.32 -0.39 0.09 0.04 -1.17 0.03 -0.42 -0.33 0.26 0.08 0.07 0.10 0.16 0.18 0.22 0.23 0.44 0.19 0.17 0.14 0.21 0.15 0.08 0.03 0.20 0.33 0.13 0.15 0.27 0.18 0.14 0.14 0.27 0.12 0.13 0.14 0.28 -0.30 0.24 0.14 0.28 0.16 0.14 0.20 0.14 0.14 0.14
Balance Sheet
Cash & Equivalents 28.6 275.0 23.7 21.3 24.3 38.3 34.5 100.4 123.1 167.8 204.2 14.3 15.2 12.3 12.6 20.7 19.3 13.3 14.6 17.2 36.1 18.4 11.5 21.6 159.1 14.7 34.0 46.3 7.8 8.1 9.5 8.5 8.9 12.3 10.9 10.6 226.5 209.9 47.6 13.3 62.5 9.9 10.2 8.3 11.9 12.7 21.9 12.2 9.5 9.5 8.4 6.3 6.0 7.7 7.9 3.0 3.8 5.0 3.3 0.6 0.9 2.4 2.3 3.4 0 0 0 0 0
Total Assets 4,458.9 4,701.8 4,351.4 4,286.9 4,250.3 4,254.2 4,234.3 4,219.3 4,232.9 4,247.0 4,239.3 4,246.3 4,178.0 4,257.3 4,269.3 4,185.2 4,132.0 4,262.5 4,151.1 4,052.0 4,112.9 4,077.0 4,120.2 4,011.3 4,054.5 3,854.5 3,855.4 3,803.5 3,775.9 3,656.0 3,650.4 3,612.4 3,596.2 3,595.2 3,559.8 3,574.9 3,739.4 3,780.9 3,634.2 3,841.7 3,937.9 3,467.3 3,398.4 3,380.0 3,198.7 3,137.3 2,916.0 1,490.7 1,432.0 1,332.1 1,216.9 1,147.8 1,138.7 1,129.3 914.8 848.8 821.7 794.8 784.9 760.2 734.8 721.0 563.7 193.5 23.9 24 24.2 24.7 24.8
Total Debt 2,590.7 2,812.8 2,490.4 2,486.0 2,460.9 2,441.0 2,424.5 2,423.7 2,450.4 2,450.2 2,449.6 2,210.9 2,158.8 2,260.6 2,298.9 2,105.5 2,186.5 2,301.6 2,194.9 2,146.2 2,245.7 2,127.2 2,218.9 2,099.1 2,158.1 1,874.8 1,879.0 1,801.0 1,905.8 1,829.4 1,808.7 1,872.1 1,866.7 1,844.2 1,890.0 1,914.5 1,904.4 1,905.6 1,891.1 2,114.7 2,155.3 2,182.4 2,107.1 4,107.7 1,831.7 1,868.6 1,799.9 820.3 829.8 738.7 736.1 708.0 809.8 710.0 508.7 476.0 478.9 474.3 465.7 436.7 412.2 399.6 306.8 114.4 14.5 14.6 14.9 14.9 14.9
Stockholders' Equity 1,514.8 1,514.8 1,507.0 1,497.7 1,490.9 1,493.1 1,489.3 1,486.6 1,482.5 1,483.9 1,486.1 1,730.7 1,726.2 1,681.8 1,661.4 1,657.0 1,651.9 1,622.7 1,636.5 1,637.2 1,623.1 1,661.0 1,609.2 1,616.6 1,625.0 1,679.0 1,656.4 1,672.3 1,610.4 1,585.4 1,568.2 1,442.2 1,416.4 1,402.1 1,349.9 1,352.1 1,535.0 1,523.1 1,433.2 1,432.7 1,512.8 1,019.5 1,014.2 1,027.5 1,049.7 975.1 832.8 501.2 451.1 450.4 350.2 289.7 288.5 290.0 264.2 231.1 203.9 193.7 194.4 198.1 198.8 192.1 168.8 11.7 9 9.1 9.2 9.5 9.6
Cash Flow
Operating Cash Flow 96.4 84.4 90.5 87.9 72.1 101.1 65.1 93.8 71.0 66.6 68.7 82.2 58.7 78.7 48.4 86.0 52.7 49.7 61.9 97.3 40.7 88.8 22.5 74.3 62.2 71.5 45.2 57.2 54.7 58.8 41.0 54.5 26.2 60.7 51.9 57.4 60.1 62.6 45.6 77.0 47.4 16.1 35.2 24.9 21.6 17.4 14.3 23.1 15.2 15.2 20.4 12.6 17.3 11.9 16.5 11.3 15.1 8.0 6.6 8.9 11.5 11.0 6.2 9.4 6.5 5.5 2.9 3.7 1 2.6 0.2 0.3 0.1 0.2 0.2
Capital Expenditure (18.9) (23.5) (20.8) (3.4) (6.9) (8.8) (18.2) (25.3) (23.7) (7.2) (5.3) (2.5) (5.5) (7.7) (7.1) (17.8) (14.5) (17.1) (6.9) (6.4) (6.0) (13.3) (13.2) 0 (5.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (106.5) (89.5) (85.0) (54.4) (60.0) (13.2) (81.7) (75.6) (26.4) (10.5) (67.0) (42.7) (19.3) (71.0) (28.4) (25.6) (16.0) (12.8) (22.0) (14.3) (82.1) (13.2) (43.5) (13.9) (83.7) (1.1) (95.7) (0.1) 0 0 0 0 (7.7) (3.5)
Free Cash Flow 77.5 61.0 69.7 84.5 65.1 92.3 46.8 68.5 47.3 59.4 63.4 79.6 53.2 71.0 41.3 68.2 38.2 32.6 55.0 90.9 34.7 75.5 9.3 74.3 56.8 71.5 45.2 57.2 54.7 58.8 41.0 54.5 26.2 60.7 51.9 57.4 60.1 62.6 45.6 77.0 47.4 (90.4) (54.3) (60.0) (32.8) (42.6) 1.1 (58.6) (60.3) (11.3) 9.9 (54.3) (25.4) (7.4) (54.4) (17.0) (10.5) (8.0) (6.2) (13.1) (2.8) (71.2) (7) (34.1) (7.4) (78.2) 1.8 (92) 0.9 2.1 0.2 0.3 0.1 (7.5) (3.3)