Cullen/Frost Bankers, Inc. logo CFR - Cullen/Frost Bankers, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 4
HOLD 23
SELL 6
STRONG
SELL
0
| PRICE TARGET: $154.40 DETAILS
HIGH: $164.00
LOW: $141.00
MEDIAN: $157.50
CONSENSUS: $154.40
DOWNSIDE: 0.48%
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986
Revenue
Revenue 2,919.8 2,849.7 2,646.3 1,880.5 1,395.5 1,486.5 1,497.7 1,402.5 1,229.4 1,138.1 1,078.2 1,021.6 945.3 920.4 913.0 899.4 916.7 963.0 1,037.1 924.7 740.2 618.7 584.3 590.9 644.6 677.5 598.9 564.6 505.8 443.9 343.8 282.3 265.8 251.8 288.7 323.5 349.9 0 0 0
Cost of Revenue 728.8 851.0 705.2 187.4 24.0 286.3 163.5 115.0 62.0 63.7 64.7 30.9 42.5 36.8 68.7 97.5 151.7 179.4 264.8 228.9 128.8 64.6 65.7 98.7 185.1 203.7 163 170.5 158.2 136.5 110.1 69.2 55.7 72.4 132.7 194.9 221.3 0 0 0
Gross Profit 2,191.0 1,998.7 1,941.0 1,693.1 1,371.5 1,200.2 1,334.1 1,287.5 1,167.4 1,074.4 1,013.5 990.8 902.8 883.6 844.3 801.9 765.0 783.5 772.3 695.8 611.4 554.0 518.6 492.2 459.5 473.8 435.9 394.1 347.6 307.4 233.7 213.1 210.1 179.4 156 128.6 128.6 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
SG&A Expenses 896.4 832.5 788.2 636.3 524.3 507.9 525.8 491.6 476.2 450.8 439.0 406.7 387.6 367.7 354.6 337.8 311.7 277.8 257.1 237.0 207.6 207.8 184.9 173.8 173.3 162.3 148.2 131.1 118.8 103.8 69.1 62.9 65.7 55.9 53.2 52.2 51.9 0 0 0
Other Expenses 523.0 470.2 440.4 388.0 357.7 341.0 308.8 287.2 282.9 282.2 254.7 248.1 224.3 207.4 203.5 197.7 220.6 208.9 205.4 173.3 159.4 137.2 141.1 138.3 166.3 141.5 139.1 145.3 116.2 106.3 93.3 92.6 106.4 97.7 102 84.4 73.8 2.4 2 (6.6)
Operating Expenses 1,419.3 1,302.8 1,228.7 1,024.3 882.0 848.9 834.7 778.8 759.1 733.0 693.7 654.7 611.9 575.1 558.1 535.5 532.2 486.6 462.4 410.4 367.0 345.0 326.0 312.1 339.7 303.8 287.3 276.4 235 210.1 162.4 155.5 172.1 153.6 155.2 136.6 125.7 2.4 2 (6.6)
Operating Income
Operating Income 771.7 696.0 712.4 668.8 489.5 351.3 499.5 508.7 408.4 341.4 319.8 336.0 290.9 308.5 286.2 266.3 232.8 296.9 309.9 285.4 244.4 209.0 192.5 180.1 119.9 170.0 148.6 117.7 112.6 97.3 71.3 57.6 38 25.8 0.8 (8) 2.9 2.4 2 (6.6)
Interest Expense 684.6 786.0 659.1 184.4 23.9 45.0 129.8 93.3 26.5 12.1 12.9 14.5 21.9 26.8 41.2 53.9 86.4 141.6 250.1 214.8 118.6 62.1 55.2 75.9 144.8 189.6 150.6 160.1 149 128 103.8 69.2 61.8 73.3 122.7 162.9 192.4 0 0 0
Interest Income 2,420.7 2,390.6 2,217.7 1,475.7 1,008.8 1,021.0 1,133.8 1,051.2 892.9 788.4 749.5 701.5 642.5 631.6 623.0 617.3 623.0 675.7 768.8 684.0 509.8 393.5 368.9 389.9 461.0 512.3 447.6 428.1 384.1 339.7 256.1 205.5 189.6 190 231.2 272.9 299.4 0 0 0
Profitability
EBITDA 859.5 778.8 788.8 740.2 558.8 415.7 553.6 558.9 456.2 389.6 361.9 375.9 329.4 346.3 323.9 303.9 269.2 330.4 341.2 310.6 270.7 234.9 220.3 211.5 158.2 205.5 186 146.8 129.7 108.4 92.3 63.2 49.2 34.6 8.3 0.2 9.9 2.4 2 (6.6)
EBIT 771.7 696.0 712.4 668.8 489.5 351.3 499.5 508.7 408.4 341.4 319.8 336.0 290.9 308.5 286.2 266.3 232.8 296.9 309.9 285.4 244.4 209.0 192.5 180.1 119.9 170.0 148.6 117.7 112.6 97.3 71.3 57.6 38 25.8 0.8 (8) 2.9 0 0 0
Income Before Tax 771.7 696.0 712.4 668.8 489.5 351.3 499.5 508.7 408.4 341.4 319.8 336.0 290.9 308.5 286.2 266.3 232.8 296.9 309.9 285.4 244.4 209.0 192.5 180.1 119.9 170.0 148.6 117.7 112.6 97.3 71.3 57.6 38 25.8 0.8 (8) 2.9 0 0 0
Income Tax Expense 123.1 113.4 114.4 89.7 46.5 20.2 55.9 53.8 44.2 37.1 40.5 58.0 53.0 70.5 68.7 57.6 53.7 89.6 97.8 91.8 79.0 67.7 62.0 57.8 39.7 58.7 51 42.1 39.6 34.4 25 20.2 (0.7) 8.2 0.6 0.2 0.2 (2.4) (2) 6.6
Net Income 648.6 582.5 598.0 579.1 443.1 331.2 443.6 454.9 364.1 304.3 279.3 278.0 237.9 238.0 217.5 208.8 179.0 207.3 212.1 193.6 165.4 141.3 130.5 117.0 80.9 108.8 97.6 75.6 73 62.9 46.3 37.4 47.1 24.1 0.2 (8.2) 2.7 2.4 2 (6.6)
Per Share Data
EPS (Basic) 10.02 8.88 9.11 8.84 6.79 5.11 6.88 6.97 5.56 4.73 4.31 4.32 3.82 3.87 3.55 3.44 3.00 3.51 3.60 3.49 3.15 2.74 2.54 2.29 1.57 2.09 1.83 1.42 1.38 1.19 1.02 0.83 1.95 0.57 0.01 -0.22 0.07 0.07 0.06 -0.21
EPS (Diluted) 9.92 8.87 9.08 8.79 6.74 5.09 6.81 6.90 5.51 4.70 4.28 4.29 3.80 3.86 3.54 3.44 3.00 3.50 3.55 3.42 3.07 2.66 2.48 2.29 1.57 2.03 1.78 1.38 1.34 1.16 1.01 0.83 1.93 0.57 0.01 -0.22 0.07 0.07 0.06 -0.21
Shares Outstanding 64.1 64.2 64.2 64.2 63.6 62.7 62.7 63.7 63.7 62.4 62.8 62.1 60.4 61.3 61.1 60.4 59.5 58.8 58.9 55.5 52.5 51.6 51.4 51.1 51.5 52.1 53.3 53.2 52.9 52.9 45.4 44.9 44.2 42.3 38 37.3 38.6 34.3 33.3 31.4
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Current Assets
Cash & Cash Equivalents 8,864.4 10,218.7 8,602.6 11,820.5 16,541.0 10,288.1 3,431.8 3,320.8 4,893.1 4,122.7 3,524.6 4,333.3 4,531.9 3,440.5 2,888.3 2,759.7 1,716.2 1,152.2 842.4 709.4 879.5 549.1 1,070.7 1,339.8 1,001.2 824.0 767.2 787.8 827.6 924.9 633.9 533.4 585.1 579.1 405.1 591.1 721.3
Short-Term Investments 1,118.6 15,043.6 16,578.4 18,243.6 13,924.6 10,437.6 11,269.6 11,387.3 10,489.0 10,203.3 9,206.4 8,461.3 5,895.4 6,203.3 7,789.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 0 0 0 1,077.9 612.5 584.6 440.7 457.7 400.9 396.7 341.2 341.5 284.5 292.3 363.7 360.4 420.9 547.9 290.2 258.0 276.4 199.4 165.8 182.4 487.7 331.5 313.3 259.8 249 169.6 155 125.4 0 96.1 123 133.7 126.3
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 9,983.0 25,262.3 25,181.0 31,142.0 31,078.2 21,310.2 15,142.0 15,165.8 15,783.0 14,722.6 13,071.0 13,136.1 10,711.9 9,936.2 11,041.7 3,120.0 2,137.1 1,700.1 1,132.6 967.3 1,155.9 748.5 1,236.5 1,522.2 1,488.8 1,155.6 1,080.5 1,047.6 1,076.6 1,094.5 788.9 658.8 585.1 675.2 528.1 724.8 847.6
Non-Current Assets
Property, Plant & Equipment 1,313.2 1,245.4 1,190.0 1,102.7 1,050.3 1,045.6 1,011.9 552.3 521.0 525.8 559.1 442.2 313.3 315.9 319.0 316.9 324.1 267.0 219.6 219.5 182.4 170.0 168.6 171.3 148.9 149.9 143.0 137.3 128.7 101.6 89.5 88.7 86.7 82.4 80.5 70.4 71.9
Goodwill 0 0 0 655.0 655.0 655.0 655.0 655.0 655.0 655.0 654.7 654.7 536.6 535.5 528.1 527.7 527.7 526.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0.4 0.9 1.6 2.5 3.6 5.1 6.8 8.8 12.1 6.3 8.1 10.6 14.3 19.5 24.3 290.2 258.0 276.4 199.4 165.8 182.4 487.7 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 39,931.1 24,018.4 22,197.7 19,566.4 17,836.9 19,163.8 16,648.2 15,073.7 14,422.4 14,072.8 14,013.7 13,814.5 12,563.0 12,075.8 8,251.0 13,431.8 13,132.8 12,295.3 11,092.2 10,618.3 9,076.5 8,063.2 7,473.1 6,889.6 6,602.2 6,137.4 5,738.3 5,684.7 4,840.2 3,692.2 3,321.7 3,046.2 2,833.4 2,393.3 2,470.4 2,459.6 2,584.8
Other Non-Current Assets 1,814.1 1,994.1 2,276.3 425.9 257.3 215.2 567.8 842.6 361.5 213.3 258.7 218.3 181.8 252.5 166.9 206.3 146.8 220.9 482.2 856.4 1,142.8 854.6 679.1 833.8 5.5 217.5 35.0 0 0.1 0.1 0.1 0 133.8 0 0 (0.1) 0.7
Total Non-Current Assets 43,058.4 27,258.0 25,664.0 21,750.4 19,800.3 21,081.1 18,885.4 17,127.2 15,964.9 15,473.7 15,495.0 15,141.7 13,601.1 13,187.9 9,275.6 14,497.1 14,150.9 13,334.0 12,352.4 12,256.9 10,585.6 9,204.3 8,435.6 8,013.8 6,880.7 6,504.8 5,916.2 5,822 4,969 3,793.9 3,411.3 3,134.9 3,053.9 2,475.7 2,550.9 2,529.9 2,657.4
Total Assets 53,041.4 52,520.3 50,845.0 52,892.4 50,878.5 42,391.3 34,027.4 32,293.0 31,747.9 30,196.3 28,565.9 28,277.8 24,312.9 23,124.1 20,317.2 17,617.1 16,288.0 15,034.1 13,485.0 13,224.2 11,741.4 9,952.8 9,672.1 9,536.0 8,369.6 7,660.4 6,996.7 6,869.6 6,045.6 4,888.4 4,200.2 3,793.7 3,639 3,150.9 3,079 3,254.7 3,505
Current Liabilities
Account Payables 0 0 0 866.3 754.3 730.2 545.7 172.3 195.1 169.1 202.5 250.2 218.0 424.4 331.0 226.6 205.6 295.7 144.9 166.6 456.9 140.7 155.6 121.6 120.5 126.0 101.6 107.2 114.4 92.7 101.6 40.1 49.6 39.6 34 46.8 39.8
Short-Term Debt 4,544.6 4,364.9 4,141.4 4,712.3 2,766.7 2,117.0 1,695.3 1,367.5 1,147.8 977.0 893.5 803.1 668.3 561.1 722.2 475.7 738.6 1,329.9 933.1 864.2 740.5 506.3 421.8 811.2 305.4 363.1 333.5 305.6 200.8 174.1 111.4 370.2 166.5 122.2 88.1 140.6 287.7
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 42,917.9 42,722.7 41,920.6 43,954.2 42,695.7 35,015.8 27,639.6 27,149.2 26,872.4 25,811.6 24,343.6 24,135.9 20,688.8 19,497.4 16,756.7 14,479.3 13,313.3 11,508.9 10,529.7 10,387.9 9,146.4 8,105.7 8,068.9 7,628.1 7,098.0 6,499.7 5,953.8 5,845.5 5,169.1 4,242.6 3,645.7 3,088 3,149.4 2,769.5 2,766 2,877.6 2,980.1
Total Current Liabilities 47,462.5 47,087.7 46,062.0 49,532.7 46,216.7 37,862.9 29,880.6 28,689.1 28,215.3 26,957.7 25,439.7 25,189.3 21,575.1 20,482.9 17,810.0 15,181.7 14,257.5 13,134.5 11,607.6 11,418.7 10,343.8 8,752.7 8,646.3 8,561.0 7,523.9 6,988.8 6,388.9 6,258.3 5,484.3 4,509.4 3,858.7 3,498.3 3,365.5 2,931.3 2,888.1 3,065 3,307.6
Non-Current Liabilities
Long-Term Debt 223.0 222.8 222.6 222.4 222.2 235.4 235.2 234.9 234.7 236.1 235.9 237.1 223.7 223.7 223.7 373.8 392.6 136.1 400.3 428.6 415.4 377.7 255.8 271.3 250.8 98.6 98.5 98.5 98.4 0 0 0 0 13.4 14.7 16.3 17.5
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
Other Non-Current Liabilities 782.8 1,311.2 844.0 0 0 0 0 0 0 0 0 0 0 0 0 0 (256.6) 0 0 0 0 0 0 0 0 0 0 (0.1) 0 0.1 0 0 0 0.1 0 0 0.6
Total Non-Current Liabilities 1,005.9 1,534.0 1,066.6 222.4 222.2 235.4 235.2 234.9 234.7 236.1 235.9 237.1 223.7 223.7 223.7 373.8 136.1 136.1 400.3 428.6 415.4 377.7 255.8 271.3 250.8 98.6 98.5 98.4 98.4 0.1 0 0 0 13.5 14.7 16.3 18.1
Total Liabilities 48,468.4 48,621.7 47,128.6 49,755.1 46,438.9 38,098.3 30,115.8 28,924.0 28,450.0 27,193.8 25,675.6 25,426.4 21,798.8 20,706.6 18,033.7 15,555.4 14,393.6 13,270.6 12,007.9 11,847.3 10,759.2 9,130.4 8,902.1 8,832.3 7,774.7 7,087.3 6,487.4 6,356.7 5,582.7 4,509.5 3,858.7 3,498.3 3,365.5 2,944.8 2,902.8 3,081.3 3,325.7
Stockholders' Equity
Common Stock 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0 0 0 0 0 0 0 0 0 0
Retained Earnings 4,309.2 3,951.5 3,657.7 3,309.7 2,957.0 2,750.7 2,667.5 2,440.0 2,187.1 1,985.6 1,845.2 1,710.3 1,575.3 1,475.9 1,354.8 1,249.5 1,150.1 1,080.2 992.1 883.1 776.2 697.9 625.4 549.4 478.4 448.0 382.2 321.8 279 195.5 158.6 126 96 52 63.9 63.7 71.8
Accumulated Other Comprehensive Income (843.0) (1,252.0) (1,119.2) (1,348.3) 347.3 513.0 267.4 (63.6) 79.5 (24.6) 113.9 141.8 140.4 238.0 247.7 154.2 154.2 137.3 (7.4) (54.9) (56.6) (16.4) 4.3 30.6 (14.0) (4.0) (39.1) 7.7 8.9 7.6 8.5 0 0 0 0 0 0
Total Stockholders' Equity 4,573.0 3,898.6 3,716.4 3,137.2 4,439.6 4,293.0 3,911.7 3,368.9 3,297.9 3,002.5 2,890.3 2,851.4 2,514.2 2,417.5 2,283.5 2,061.7 1,894.4 1,763.5 1,477.1 1,376.9 982.2 822.4 770.0 703.8 594.9 573.0 509.3 512.9 462.9 378.9 341.5 295.4 273.5 206.1 176.2 173.4 179.3
Total Liabilities & Equity 53,041.4 52,520.3 50,845.0 52,892.4 50,878.5 42,391.3 34,027.4 32,293.0 31,747.9 30,196.3 28,565.9 28,277.8 24,312.9 23,124.1 20,317.2 17,617.1 16,288.0 15,034.1 13,485.0 13,224.2 11,741.4 9,952.8 9,672.1 9,536.0 8,369.6 7,660.4 6,996.7 6,869.6 6,144 4,888.4 4,200.2 3,793.7 3,639 3,150.9 3,079 3,254.7 3,505
Debt Metrics
Total Debt 4,767.7 4,587.7 4,364.0 4,934.7 2,988.9 2,352.4 1,930.5 1,602.5 1,382.6 1,213.1 1,129.5 1,040.2 892.0 784.8 945.9 849.4 1,131.3 1,465.9 1,333.4 1,292.8 1,156.0 884.0 677.6 1,082.5 556.2 461.7 432.0 404.1 299.2 174.1 111.4 370.2 166.5 135.6 102.8 156.9 305.2
Net Debt (4,096.7) (5,630.9) (4,238.6) (6,885.8) (13,552.1) (7,935.7) (1,501.3) (1,718.3) (3,510.5) (2,909.6) (2,395.1) (3,293.1) (3,639.9) (2,655.8) (1,942.3) (1,910.2) (584.9) 313.7 491.0 583.5 276.5 334.9 (393.0) (257.3) (445.0) (362.4) (335.2) (383.7) (528.4) (750.8) (522.5) (163.2) (418.6) (443.5) (302.3) (434.2) (416.1)
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989
Operating Activities
Net Income 648.6 582.5 598.0 579.1 443.1 331.2 443.6 454.9 364.1 304.3 279.3 278.0 237.9 238.0 217.5 208.8 179.0 207.3 212.1 193.6 165.4 141.3 130.5 117.0 80.9 108.8 97.6 75.6 73 62.9 46.3 37.4 38.7 17.6 0.2 (8.2) 2.7
Depreciation & Amortization 127.4 82.8 76.4 71.3 69.3 64.4 54.1 50.2 47.8 48.2 42.1 39.9 38.5 37.8 37.6 37.6 36.5 33.6 31.4 25.2 26.3 25.9 27.8 31.5 38.3 35.5 37.4 29.1 17.1 11.1 21 5.6 11.2 8.8 7.5 8.2 7
Stock-Based Compensation 24.8 19.8 24.6 18.3 12.8 13.9 15.9 13.9 13.0 11.8 12.7 12.5 12.0 12.8 16.0 14.9 12.6 10.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (545.8) 229.8 (296.3) (31.4) 15.2 (107.3) (14.0) (112.8) 12.2 (13.5) (27.5) (100.1) (163.7) 1.4 (24.5) 117.8 2.0 (40.4) (37.6) (263.4) (77.5) (47.5) 59.6 (3.0) 8.8 (4.6) 1.6 (3.4) (1.9) (2.4) 31.7 (3.1) (1.6) 2.9 6.6 16.4 (34.9)
Other Non-Cash Items 13.7 86.3 91.0 90.1 100.2 238.0 126.9 103.2 115.4 98.7 107.2 63.7 45.7 16.4 19.6 40.8 53.6 12.4 (5.4) (7.2) 17.7 3.8 (11.7) 134.5 (29.1) (7.8) 6.1 19.6 (33.3) 8.9 (11.9) 5.1 1.1 25.6 18.2 29 22.5
Operating Cash Flow 274.0 989.5 478.8 722.6 648.3 524.2 634.1 562.4 538.1 437.8 394.9 289.9 173.6 300.0 274.4 424.5 273.9 234.4 201.3 (53.1) 132.4 128.8 202.4 272.2 91.5 130.2 136.6 115.3 48.2 76.6 85.9 47.1 43 54.9 32.5 45.4 (2.7)
Investing Activities
Capital Expenditure (146.7) (127.8) (158.6) (102.5) (65.8) (95.4) (206.7) (79.3) (34.1) (53.6) (147.1) (132.0) (39.6) (24.9) (26.7) (16.8) (78.3) (67.5) (21.1) (27.3) (18.1) (15.4) (12.5) (40.9) (17.5) (25.2) (20.3) (18.8) (18.1) (21.4) (6.4) (16.4) (13.3) (11.7) (10.4) (5.9) (16.9)
Acquisitions 0 0 0 0 0 0 0 0 0 (0.5) 0 830.7 (1.9) (7.2) (0.7) 0 (1.2) (0.6) (2.8) (100.1) (13.3) (7.1) (0.8) 0 (5.0) 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (21,496.9) (17,899.8) (20,272.0) (23,602.4) (24,217.8) (20,843.1) (23,956.0) (18,192.6) (13,529.2) (16,419.8) (14,149.3) (19,484.4) (11,435.7) (18,565.6) (8,835.8) (11,472.8) (12,390.4) (7,650.8) (13,593.1) (14,070.1) (10,763.8) (8,518.3) (8,604.8) (7,933.2) (6,674.8) (3,448.7) (2,172.2) (2,324) (1,386.3) (738.4) (807.5) (661.7) (1,589.3) (819.5) (622.6) (278) (565.5)
Sales/Maturities of Investments 21,167.5 19,805.7 21,170.1 16,244.5 20,602.6 22,119.4 23,436.8 17,328.6 14,074.7 15,548.5 13,550.8 17,292.4 11,382.6 17,662.7 6,317.7 10,892.4 11,138.8 7,612.0 13,542.7 14,007.2 10,968.4 8,479.0 8,052.3 7,729.2 6,179.3 3,473.0 2,652.8 2,083.1 1,383.3 856.4 931.8 659.8 1,463.7 841.8 421.4 299.9 267.3
Other Investing Activities (1,125.0) (1,959.0) (1,682.2) (817.0) 1,156.1 (2,811.9) (660.9) (970.1) (1,182.0) (448.5) (493.3) (788.8) (291.3) (1,220.5) 90.1 197.4 411.7 (1,122.5) (387.0) (178.8) (594.9) (571.6) (54.0) (44.2) (117.7) (385.0) (438) (413) (326.2) (312.5) (197.6) (222.8) 127.4 68.2 156.5 56.9 162.8
Investing Cash Flow (1,601.1) (180.9) (942.8) (8,277.3) (2,525.0) (1,631.0) (1,386.8) (1,913.3) (670.6) (1,374.0) (1,238.9) (2,282.1) (385.9) (2,155.5) (2,455.3) (399.8) (919.4) (1,229.3) (461.3) (368.9) (421.7) (633.4) (619.7) (289.2) (635.6) (386.0) 22.3 (672.7) (347.3) (215.9) (79.7) (241.1) (11.5) 78.8 (55.1) 72.9 (152.3)
Financing Activities
Net Debt Issuance 179.7 223.5 (570.9) 1,945.6 636.3 421.7 327.8 219.7 169.3 83.5 90.4 84.7 107.2 (161.2) 96.5 (25.3) (591.2) 132.5 (59.4) 86.4 227.9 206.4 (404.8) 505.8 90.9 29.7 27.9 89.4 (31.9) 76.3 (267.6) 0 40.2 32.9 (54.2) (148.3) (16.3)
Stock Repurchased (157.8) (60.9) (42.7) (4.4) (3.9) (165.8) (68.8) (101.0) (101.5) (1.3) (101.2) (1.5) (144.6) (0.4) (2.0) (1.0) (0.8) (23.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (262.0) (249.1) (239.0) (216.5) (195.9) (182.6) (185.1) (173.5) (152.2) (143.0) (140.2) (135.2) (126.3) (116.9) (112.2) (108.0) (102.1) (98.2) (90.8) (73.4) (61.5) (53.8) (48.5) (44.7) (43.3) (39.6) (36) (30.5) (22.3) (18.8) (12.7) (7.4) (1.7) 0 0 0 0
Other Financing Activities 195.1 824.8 (2,024.3) 1,275.2 7,734.4 7,376.2 511.1 308.5 1,128.6 1,546.8 222.5 1,852.3 1,262.8 2,751.3 2,285.3 1,205.5 1,821.3 1,024.4 249.0 (97.8) 721.7 36.8 440.7 508.4 598.3 545.9 (117.6) 454.2 240.9 373.7 374.7 (59.4) (66.3) 3.4 (111.5) (102.4) 129.3
Financing Cash Flow (33.1) 738.3 (2,876.9) 2,999.9 8,170.9 7,607.5 585.1 253.7 1,044.1 1,486.1 71.5 1,800.2 1,243.5 2,472.9 2,267.5 1,074.8 1,129.6 1,035.8 11.9 (46.8) 908.9 160.2 (8.4) 950.3 635.7 492.7 (144.7) 517.6 172.6 431.5 94.4 142.4 (25.6) 40.2 (163.4) (248.6) 115.3
Cash Position
Net Change in Cash (1,360.2) 1,547.0 (3,340.9) (4,554.9) 6,294.1 6,500.7 (167.6) (1,097.3) 911.6 549.9 (772.6) (192.0) 1,031.1 617.4 86.6 1,099.5 484.1 40.8 (248.1) (468.8) 619.6 (344.4) (425.7) 933.2 91.6 237.0 14.3 (39.8) (126.5) (661.8) (533.4) (585) (579.1) (405.1) (591.1) (721.3) (761)
Cash at Beginning 10,234.3 8,687.3 12,028.1 16,583 10,288.9 3,788.2 3,955.8 5,053.0 4,141.4 3,591.5 4,364.1 4,556.1 3,525.0 2,907.6 2,821.0 1,721.5 1,237.3 1,196.5 1,444.6 1,913.4 1,293.8 1,638.2 2,063.9 1,130.7 1,039.1 802.1 787.8 827.6 954.1 661.8 533.4 585 579.1 405.1 591.1 721.3 761
Cash at End 8,874.1 10,234.3 8,687.3 12,028.1 16,583 10,288.9 3,788.2 3,955.8 5,053.0 4,141.4 3,591.5 4,364.1 4,556.1 3,525.0 2,907.6 2,821.0 1,721.5 1,237.3 1,196.5 1,444.6 1,913.4 1,293.8 1,638.2 2,063.9 1,130.7 1,039.1 802.1 787.8 827.6 938.1 627.8 727.4 553.5 445.3 427.7 472.7 876.3
Free Cash Flow 127.3 861.8 320.2 620.1 582.4 428.8 427.4 483.1 504.0 384.2 247.7 157.9 134.0 275.1 247.7 407.7 195.7 166.9 180.2 (80.4) 114.3 113.4 189.8 231.3 74.0 105.0 116.3 96.5 30.1 55.2 79.5 30.7 29.7 43.2 22.1 39.5 (19.6)
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986
Income Statement
Revenue 2,919.8 2,849.7 2,646.3 1,880.5 1,395.5 1,486.5 1,497.7 1,402.5 1,229.4 1,138.1 1,078.2 1,021.6 945.3 920.4 913.0 899.4 916.7 963.0 1,037.1 924.7 740.2 618.7 584.3 590.9 644.6 677.5 598.9 564.6 505.8 443.9 343.8 282.3 265.8 251.8 288.7 323.5 349.9 0 0 0
Gross Profit 2,191.0 1,998.7 1,941.0 1,693.1 1,371.5 1,200.2 1,334.1 1,287.5 1,167.4 1,074.4 1,013.5 990.8 902.8 883.6 844.3 801.9 765.0 783.5 772.3 695.8 611.4 554.0 518.6 492.2 459.5 473.8 435.9 394.1 347.6 307.4 233.7 213.1 210.1 179.4 156 128.6 128.6 0 0 0
Operating Income 771.7 696.0 712.4 668.8 489.5 351.3 499.5 508.7 408.4 341.4 319.8 336.0 290.9 308.5 286.2 266.3 232.8 296.9 309.9 285.4 244.4 209.0 192.5 180.1 119.9 170.0 148.6 117.7 112.6 97.3 71.3 57.6 38 25.8 0.8 (8) 2.9 2.4 2 (6.6)
Net Income 648.6 582.5 598.0 579.1 443.1 331.2 443.6 454.9 364.1 304.3 279.3 278.0 237.9 238.0 217.5 208.8 179.0 207.3 212.1 193.6 165.4 141.3 130.5 117.0 80.9 108.8 97.6 75.6 73 62.9 46.3 37.4 47.1 24.1 0.2 (8.2) 2.7 2.4 2 (6.6)
EPS (Diluted) 9.92 8.87 9.08 8.79 6.74 5.09 6.81 6.90 5.51 4.70 4.28 4.29 3.80 3.86 3.54 3.44 3.00 3.50 3.55 3.42 3.07 2.66 2.48 2.29 1.57 2.03 1.78 1.38 1.34 1.16 1.01 0.83 1.93 0.57 0.01 -0.22 0.07 0.07 0.06 -0.21
Balance Sheet
Cash & Equivalents 8,864.4 10,218.7 8,602.6 11,820.5 16,541.0 10,288.1 3,431.8 3,320.8 4,893.1 4,122.7 3,524.6 4,333.3 4,531.9 3,440.5 2,888.3 2,759.7 1,716.2 1,152.2 842.4 709.4 879.5 549.1 1,070.7 1,339.8 1,001.2 824.0 767.2 787.8 827.6 924.9 633.9 533.4 585.1 579.1 405.1 591.1 721.3
Total Assets 53,041.4 52,520.3 50,845.0 52,892.4 50,878.5 42,391.3 34,027.4 32,293.0 31,747.9 30,196.3 28,565.9 28,277.8 24,312.9 23,124.1 20,317.2 17,617.1 16,288.0 15,034.1 13,485.0 13,224.2 11,741.4 9,952.8 9,672.1 9,536.0 8,369.6 7,660.4 6,996.7 6,869.6 6,045.6 4,888.4 4,200.2 3,793.7 3,639 3,150.9 3,079 3,254.7 3,505
Total Debt 4,767.7 4,587.7 4,364.0 4,934.7 2,988.9 2,352.4 1,930.5 1,602.5 1,382.6 1,213.1 1,129.5 1,040.2 892.0 784.8 945.9 849.4 1,131.3 1,465.9 1,333.4 1,292.8 1,156.0 884.0 677.6 1,082.5 556.2 461.7 432.0 404.1 299.2 174.1 111.4 370.2 166.5 135.6 102.8 156.9 305.2
Stockholders' Equity 4,573.0 3,898.6 3,716.4 3,137.2 4,439.6 4,293.0 3,911.7 3,368.9 3,297.9 3,002.5 2,890.3 2,851.4 2,514.2 2,417.5 2,283.5 2,061.7 1,894.4 1,763.5 1,477.1 1,376.9 982.2 822.4 770.0 703.8 594.9 573.0 509.3 512.9 462.9 378.9 341.5 295.4 273.5 206.1 176.2 173.4 179.3
Cash Flow
Operating Cash Flow 274.0 989.5 478.8 722.6 648.3 524.2 634.1 562.4 538.1 437.8 394.9 289.9 173.6 300.0 274.4 424.5 273.9 234.4 201.3 (53.1) 132.4 128.8 202.4 272.2 91.5 130.2 136.6 115.3 48.2 76.6 85.9 47.1 43 54.9 32.5 45.4 (2.7)
Capital Expenditure (146.7) (127.8) (158.6) (102.5) (65.8) (95.4) (206.7) (79.3) (34.1) (53.6) (147.1) (132.0) (39.6) (24.9) (26.7) (16.8) (78.3) (67.5) (21.1) (27.3) (18.1) (15.4) (12.5) (40.9) (17.5) (25.2) (20.3) (18.8) (18.1) (21.4) (6.4) (16.4) (13.3) (11.7) (10.4) (5.9) (16.9)
Free Cash Flow 127.3 861.8 320.2 620.1 582.4 428.8 427.4 483.1 504.0 384.2 247.7 157.9 134.0 275.1 247.7 407.7 195.7 166.9 180.2 (80.4) 114.3 113.4 189.8 231.3 74.0 105.0 116.3 96.5 30.1 55.2 79.5 30.7 29.7 43.2 22.1 39.5 (19.6)