Customers Bancorp, Inc. logo CUBI - Customers Bancorp, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 8
HOLD 8
SELL 0
STRONG
SELL
0
| PRICE TARGET: $89.17 DETAILS
HIGH: $100.00
LOW: $71.00
MEDIAN: $91.50
CONSENSUS: $89.17
UPSIDE: 18.66%
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
Revenue
Revenue 370.6 387.7 387.5 353.6 285.8 313.5 336.9 361.6 349.0 360.8 390.3 341.4 328.4 264.3 223.0 204.7 202.3 220.0 257.8 180.7 179.4 176.7 163.7 135.1 136.1 149.6 149.6 123.3 120.5 122.8 111.6 123.1 117.2 116.8 115.4 111.8 105.3 65.0 111.1 86.7 78.2 76.5 69.6 66.1 64.2 62.6 56.0 52.0 43.7 38.1 37.5 37.2 32.1 38.4 37.1 32.4 22.0 25.6 17.2 17.3 15.1
Cost of Revenue 168.3 150.8 186.1 172.1 175.8 183.3 190.6 184.5 188.5 186.9 194.4 188.5 184.6 162.7 68.9 55.3 34.8 34.2 36.1 27.4 25.5 27.2 45.2 54.2 75.8 56.1 55.4 52.6 46.5 43.2 49.0 39.5 34.0 30.1 32.6 25.8 23.7 19.0 19.7 18.9 17.7 20.4 15.9 22.5 15.4 14.6 16.1 11.0 11.4 2.6 7.3 7.7 5.3 7.2 15.5 8.3 7.0 8.3 6.6 8.6 8.4
Gross Profit 202.3 236.9 201.4 181.5 110.0 130.2 146.3 177.1 160.5 173.9 195.8 152.9 143.8 101.6 154.2 149.4 167.5 185.8 221.6 153.3 153.9 149.5 118.5 80.9 60.3 93.5 94.2 70.7 73.9 79.7 62.6 83.6 83.2 86.7 82.8 86.1 81.6 46.0 91.4 67.7 60.5 56.1 53.7 43.6 48.8 47.9 39.9 41.0 32.3 35.6 30.2 29.5 26.9 31.2 21.6 24.1 15.0 17.3 10.6 8.6 6.7
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
SG&A Expenses 55.8 52.6 57.9 58.2 55.0 7.2 70.1 56.4 50.2 0.1 58.7 43.4 36.1 (33.8) 54.1 27.3 29.3 55.4 50.2 50.6 47.2 49.7 41.5 37.0 35.4 41.5 36.1 42.8 40.6 41.0 40.4 41.5 37.5 40.3 42.1 35.4 33.1 4.5 38.5 23.3 22.8 21.8 21.0 18.7 20.1 18.1 17.9 17.4 13.5 14.3 11.6 11.0 9.7 8.7 7.6 7.5 7.1 5.5 4.8 5.1 5.5
Other Expenses 56.2 64.8 43.2 44.4 43.2 87.2 30.1 43.5 45.0 89.9 26.9 41.1 39.4 99.5 18.2 44.6 42.1 15.2 19.2 21.3 14.5 21.4 13.9 10.9 13.2 17.1 22.9 16.1 13.1 15.6 16.2 11.6 14.2 14.0 18.0 14.7 15.8 (2.1) 17.1 8.3 8.7 9.1 9.1 7.0 7.1 9.4 6.3 7.8 7.3 7.4 5.8 5.8 6.1 11.4 3.8 6.6 3.2 7.1 2.5 3.3 3.6
Operating Expenses 112.0 117.3 101.0 102.6 98.1 94.4 100.2 99.9 95.1 90.0 85.6 84.5 75.5 65.7 72.3 71.9 71.4 70.6 69.3 71.9 61.8 71.0 55.4 48.0 48.6 58.5 59.1 58.9 53.7 56.7 56.6 53.1 51.6 54.3 60.1 50.0 48.8 2.3 55.6 31.6 31.5 30.9 30.0 25.7 27.2 27.5 24.3 25.2 20.7 21.7 17.4 16.8 15.8 20.2 11.4 14.0 10.3 12.5 7.3 8.4 9.1
Operating Income
Operating Income 90.3 119.6 100.3 78.9 11.9 35.9 46.0 77.1 65.4 83.9 110.2 68.3 68.3 35.8 81.8 77.5 96.1 115.2 152.3 81.5 92.2 78.5 63.1 33.0 11.7 35.0 35.1 11.8 20.3 23.0 6.1 30.5 31.5 32.4 22.7 36.0 32.8 43.7 35.8 36.1 29.0 25.2 23.7 18.0 21.6 20.5 15.6 15.8 11.6 13.8 12.8 12.7 11.1 11.1 10.2 10.1 4.7 4.8 3.3 0.2 (2.4)
Interest Expense 145.0 150.8 159.6 151.3 147.5 162.1 173.6 166.4 171.4 173.4 176.6 164.9 165.0 134.5 76.9 31.5 18.8 20.3 23.0 24.1 28.4 30.1 32.2 33.2 44.0 46.4 51.0 47.3 41.8 41.8 46.0 40.3 31.9 29.3 30.3 25.2 20.7 19.5 19.6 18.2 15.8 14.2 13.8 13.1 12.4 12.2 11.1 8.2 7.1 6.8 6.5 5.6 5.4 5.6 5.4 5.5 5.2 5.4 5.7 5.8 5.6
Interest Income 336.3 355.2 361.5 328.0 314.9 329.9 332.1 334.0 331.8 345.9 376.3 330.2 314.9 269.6 235.9 196.3 183.5 214.0 242.9 162.9 161.1 153.1 139.7 125.2 125.3 124.0 126.7 112.0 101.1 103.3 110.0 107.6 97.0 97.6 98.3 93.9 83.1 83.6 84.2 81.3 73.4 67.7 63.7 59.7 58.7 57.2 51.3 45.1 36.9 34.5 33.7 31.7 27.9 27.2 28.0 19.7 18.6 19.6 15.4 14.6 11.8
Profitability
EBITDA 104.5 131.3 102.2 90.5 27.5 45.0 55.8 83.6 73.6 91.5 117.9 76.1 77.1 43.0 88.5 84.8 102.1 120.7 157.8 86.9 97.5 86.5 62.2 40.2 18.8 42.7 41.4 16.4 24.6 26.9 9.6 33.9 34.9 35.7 27.7 37.0 34.2 43.1 38.2 37.0 29.9 26.2 24.7 19.0 22.7 21.3 16.6 16.7 12.5 14.8 13.6 13.3 11.7 11.7 11.0 10.3 5.2 5.2 3.6 0.5 (2.1)
EBIT 90.3 119.6 100.3 78.9 11.9 35.9 46.0 77.1 65.4 83.9 110.2 68.3 68.3 35.8 81.8 77.5 96.1 115.2 152.3 81.5 92.2 78.5 63.1 33.0 11.7 35.0 35.1 11.8 20.3 23.0 6.1 30.5 31.5 32.4 22.7 36.0 32.8 43.7 35.8 36.1 29.0 25.2 23.7 18.0 21.6 20.5 15.6 15.8 11.6 13.8 12.8 12.7 11.1 11.1 10.2 10.1 4.7 4.8 3.3 0.2 (2.4)
Income Before Tax 90.3 97.3 100.3 78.9 11.9 35.9 46.0 77.1 65.4 83.9 110.2 68.3 68.3 35.8 81.8 77.5 96.1 115.2 152.3 81.5 92.2 78.5 63.1 33.0 11.7 35.0 35.1 11.8 20.3 23.0 6.1 30.5 31.5 32.4 22.7 36.0 32.8 43.7 35.8 36.1 29.0 25.2 23.7 18.0 21.6 20.5 15.6 15.8 11.6 13.8 12.8 12.7 11.1 11.1 10.2 10.1 4.7 4.8 3.3 0.2 (2.4)
Income Tax Expense 20.7 22.8 24.6 18.0 (1.0) 8.9 (0.7) 19.0 15.7 21.8 23.5 20.8 14.6 7.1 17.9 18.9 19.3 13.0 36.3 20.1 17.6 22.2 12.0 8.0 3.3 7.5 8.0 2.5 4.8 5.1 0.0 6.8 7.4 10.8 14.9 12.3 7.0 14.3 14.6 14.4 9.7 7.4 8.4 6.4 7.7 7.3 3.9 5.5 3.4 4.8 4.5 4.4 3.9 3.5 3.6 3.6 1.6 1.5 0.9 0.1 (0.7)
Net Income 69.7 74.5 75.7 60.9 12.9 26.9 46.7 58.1 49.7 62.1 86.8 47.6 53.7 28.7 63.9 58.6 76.8 100.7 116.0 61.3 36.6 56.2 50.5 22.7 3.1 27.5 27.1 9.3 15.4 17.9 6.0 23.7 24.1 21.6 7.8 23.7 25.7 20.4 21.2 19.5 18.2 17.8 15.3 11.6 14.0 13.2 11.7 10.2 8.1 9.0 8.3 8.2 7.2 7.6 6.6 6.5 3.1 3.2 2.3 0.1 (1.7)
Per Share Data
EPS (Basic) 2.04 2.05 2.28 1.77 0.30 0.74 1.36 1.72 1.46 1.86 2.65 1.41 1.58 0.79 1.89 1.73 2.27 3.02 3.40 1.80 1.04 1.67 1.49 0.61 0.22 0.76 0.75 0.18 0.38 0.45 0.08 0.64 0.65 0.58 0.13 0.66 0.73 0.56 0.68 0.64 0.61 0.62 0.53 0.41 0.52 0.49 0.44 0.38 0.30 0.34 0.30 0.30 0.39 0.41 0.48 0.57 0.27 0.28 0.22 0.01 -0.15
EPS (Diluted) 1.97 1.98 2.20 1.73 0.29 0.71 1.31 1.66 1.40 1.79 2.58 1.39 1.55 0.77 1.85 1.68 2.18 2.87 3.25 1.72 1.01 1.65 1.48 0.61 0.22 0.75 0.74 0.18 0.38 0.44 0.07 0.62 0.64 0.55 0.13 0.62 0.67 0.51 0.64 0.60 0.57 0.58 0.50 0.41 0.49 0.47 0.44 0.38 0.30 0.34 0.30 0.30 0.39 0.41 0.46 0.57 0.27 0.28 0.21 0.01 -0.15
Shares Outstanding 34.1 34.2 32.3 31.6 31.4 31.3 31.6 31.6 31.5 31.4 31.3 31.3 31.8 32.4 32.5 32.7 33.0 32.6 32.5 32.3 31.9 31.6 31.5 31.5 31.4 31.3 31.2 31.2 31.0 31.6 31.7 31.6 31.4 30.8 30.7 30.6 30.4 29.0 27.4 27.1 26.9 26.9 26.9 26.9 26.8 26.9 26.7 26.7 26.7 26.6 27.2 27.1 18.5 18.5 13.8 11.3 11.3 11.3 10.9 10.8 10.9
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
Current Assets
Cash & Cash Equivalents 89.2 62.1 4,185.6 3,503.5 3,428.7 3,785.9 3,088.0 3,048.6 3,701.1 3,846.3 3,420.0 3,155.2 2,046.7 455.8 404.5 245.2 274.6 518.0 1,052.1 430.5 515.4 693.4 331.4 1,067.3 256.2 212.5 182.2 95.8 117.7 62.1 666.0 251.7 215.4 146.3 219.5 401.7 157.1 264.7 265.6 302.8 262.6
Short-Term Investments 0 0 610.8 677.4 757.6 2,019.7 2,412.1 2,511.7 2,604.9 2,405.6 2,773.2 2,824.6 2,927.0 2,987.5 0 0 0 3,817.2 1,866.7 1,526.8 1,441.9 1,210.3 1,133.8 681.4 712.7 595.9 608.7 708.4 678.1 665.0 0 0 0 471.4 584.8 1,012.6 1,017.3 493.5 530.9 547.9 556.2
Net Receivables 105.0 103.6 106.4 101.5 105.8 323.3 115.6 112.8 120.1 320.5 124.0 119.5 123.8 123.4 107.6 98.7 94.7 92.2 93.5 90.0 83.2 80.4 65.7 49.9 40.6 38.1 38.4 38.5 35.7 33.0 33.0 34.0 31.8 27.0 27.1 26.2 25.6 23.7 22.1 22.4 21.2
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 0
Total Current Assets 194.2 165.7 4,902.8 4,282.4 4,292.0 6,128.9 5,615.7 5,673.0 6,426.1 6,572.5 6,317.2 6,099.4 5,097.4 3,566.7 512.1 343.9 369.3 4,427.4 3,012.3 2,047.3 2,040.5 1,984.1 1,530.9 1,798.6 1,009.5 846.5 829.3 842.7 831.5 760.1 699.0 285.7 247.2 644.7 831.4 1,440.5 1,200.0 781.9 818.6 873.1 840.0
Non-Current Assets
Property, Plant & Equipment 15.7 16.7 15.3 6.0 6.7 6.7 6.7 7.0 7.3 7.4 7.8 8.0 8.6 9.0 6.6 6.8 8.2 8.9 9.9 10.4 10.9 11.2 11.7 8.4 8.9 9.4 14.1 10.1 10.5 11.1 11.3 11.2 11.6 12.0 12.4 12.0 11.8 12.8 12.4 12.5 12.4
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
Intangible Assets 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.6 3.7 3.7 3.8 3.9 3.9 4.0 14.4 14.6 14.9 15.2 15.5 15.8 16.2 16.5 16.8 17.1 17.5 16.3 16.6 3.6 3.6 17.6 22.1 22.4 21.2
Long-Term Investments 24,726.7 23,777.2 16,544.5 15,726.9 15,492.1 15,508.7 14,984.4 14,463.0 14,155.6 14,169.9 14,752.6 15,029.8 15,803.0 16,504.0 19,036.5 19,147.7 18,097.5 14,431.1 15,384.0 16,841.6 16,039.6 15,750.1 16,449.7 15,130.3 10,172.1 9,994.7 10,226.6 9,673.0 8,702.2 8,505.0 9,385.8 10,236.2 9,961.2 8,669.7 9,136.3 9,007.7 8,314.3 8,314.1 8,381.8 8,378.3 7,839.0
Other Non-Current Assets 940.5 898.2 2,793.9 2,531.9 2,628.7 660.4 845.6 796.3 754.8 562.9 775.9 887.7 838.9 812.8 808.8 750.0 685.0 703.9 698.9 732.0 722.8 689.9 771.9 951.2 813.4 655.0 638.3 640.9 583.5 540.7 504.2 542.6 531.8 496.9 475.1 419.7 376.8 256.4 372.9 403.5 343.8
Total Non-Current Assets 25,686.6 24,730.2 19,357.3 18,268.4 18,131.0 16,179.4 15,840.4 15,270.0 14,921.3 14,743.8 15,540.0 15,929.2 16,654.2 17,329.4 19,855.5 19,908.1 18,794.4 15,147.6 16,096.7 17,587.8 16,777.2 16,455.2 17,247.8 16,104.5 11,009.3 10,674.3 10,894.4 10,339.8 9,312.4 9,073.3 9,918.1 10,807.2 10,522.0 9,194.8 9,640.4 9,443.1 8,706.6 8,600.9 8,784.0 8,811.5 8,198.9
Total Assets 25,880.8 24,895.9 24,260.2 22,550.8 22,423.0 22,308.2 21,456.1 20,943.0 21,347.4 21,316.3 21,857.2 22,028.6 21,751.6 20,896.1 20,367.6 20,252.0 19,163.7 19,575.0 19,108.9 19,635.1 18,817.7 18,439.2 18,778.7 17,903.1 12,018.8 11,520.7 11,723.8 11,182.4 10,143.9 9,833.4 10,617.1 11,092.8 10,769.3 9,839.6 10,471.8 10,883.5 9,906.6 9,382.7 9,602.6 9,684.6 9,038.9
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 264.4 269.5 249.2 230.7 287.9 243.6 265.8 251.1 448.8 338.8 351.7 152.1 241.9 354.3 195.6 126.2 132.6 129.1 93.4 66.5 80.8 70.1 64.5 56.2 59.7 37.2 43.3 75.4 139.4 89.4 52.0
Short-Term Debt 70 7.4 50 100 100 100 1.5 0 0 0 0 0 0 300 365 905 700 775 0 0 1,215 1,100 1,530 850 705 1,388 373 406 388 187 0 105 195 155 147 150 215 771.8 52 61 80
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 0 15,744.3 20,405.0 18,976.0 18,932.9 18,846.5 18,067.9 17,650.2 17,932.5 17,920.2 18,195.4 17,950.4 17,723.6 18,157.0 17,522.4 16,944.7 16,415.6 16,777.9 16,971.0 13,873.9 12,472.4 11,309.9 10,839.1 10,965.9 8,413.6 8,648.9 8,925.7 8,185.8 7,425.3 7,142.2 8,513.7 7,296.0 7,042.5 6,800.1 7,597.1 7,021.9 6,627.1 7,303.8 7,389.0 6,751.3 6,478.6
Total Current Liabilities 70 15,751.7 20,455.0 19,076.0 19,032.9 18,946.5 18,069.4 17,678.1 17,961.4 17,920.2 18,459.8 18,220.0 17,972.8 18,687.6 18,175.3 18,093.3 17,381.3 17,804.1 17,419.9 14,212.7 14,039.2 12,562.0 12,611.0 12,170.2 9,314.2 10,163.2 9,431.3 8,720.8 7,906.7 7,395.7 8,594.6 7,471.0 7,301.9 7,011.4 7,803.7 7,209.1 6,885.4 8,151.0 7,580.4 6,901.6 6,610.6
Non-Current Liabilities
Long-Term Debt 1,832.5 1,705.4 1,427.3 1,377.2 1,315.1 1,309.9 1,398.7 1,324.7 1,501.3 1,509.3 1,835.8 2,348.0 2,357.8 805.5 805.4 805.3 405.0 404.8 404.8 305.8 305.6 305.4 305.3 305.1 1,564.9 304.7 1,273.4 1,470.2 1,258.8 1,480.9 1,067.7 2,685.6 2,548.3 1,907.2 1,757.5 2,294.5 1,402.6 1,064.7 1,232.4 2,102.4 1,829.0
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
Other Non-Current Liabilities 21,834.0 5,323.2 251.8 234.1 210.4 215.2 186.8 193.3 193.1 248.4 0 3.9 0 0 0 0 0 0 0 3,865.9 3,284.2 4,454.7 4,811.0 4,420.0 175 0 0 0 0 0 0 0 0 0 0 469.7 738.8 (688.8) 0 0 0
Total Non-Current Liabilities 23,666.5 7,028.6 1,679.1 1,611.2 1,525.6 1,525.1 1,585.5 1,518.0 1,694.4 1,757.6 1,835.8 2,351.9 2,357.8 805.5 805.4 805.3 405.0 404.8 404.8 4,171.6 3,589.8 4,760.2 5,116.3 4,725.1 1,739.9 304.7 1,273.4 1,470.2 1,258.8 1,480.9 1,067.7 2,685.6 2,548.3 1,907.2 1,757.5 2,764.2 2,141.4 375.9 1,232.4 2,102.4 1,829.0
Total Liabilities 23,736.5 22,780.4 22,134.1 20,687.2 20,558.5 20,471.6 19,654.9 19,196.1 19,655.8 19,677.9 20,295.5 20,571.9 20,330.6 19,493.2 18,980.7 18,898.6 17,786.3 18,208.8 17,824.6 18,384.4 17,628.9 17,322.2 17,727.2 16,895.3 11,054.2 10,467.9 10,704.6 10,191.0 9,165.5 8,876.6 9,662.3 10,156.6 9,850.2 8,918.6 9,561.2 9,973.3 9,026.8 8,526.9 8,812.8 9,004.1 8,439.6
Stockholders' Equity
Common Stock 36.3 36.2 36.2 36.1 36.0 35.8 35.7 35.7 35.5 35.5 35.3 35.3 35.3 35.0 34.9 34.9 34.9 34.7 33.8 33.6 33.5 33.0 32.8 32.8 32.8 32.6 32.5 32.5 32.4 32.3 32.2 32.2 32.0 31.9 31.3 31.3 31.2 30.8 28.1 27.8 27.6
Retained Earnings 1,604.8 1,535.2 1,465.1 1,391.4 1,335.5 1,326.0 1,302.7 1,259.8 1,205.5 1,159.6 1,101.4 1,018.4 974.4 924.1 898.5 837.1 780.6 705.7 607.1 496.8 438.8 438.6 385.8 338.7 319.5 381.5 357.6 334.2 328.5 316.7 302.4 300.0 279.9 258.1 240.1 235.9 215.8 193.7 176.9 158.3 140.9
Accumulated Other Comprehensive Income (54.7) (54.0) (51.1) (71.3) (67.6) (96.6) (106.1) (131.4) (132.3) (136.6) (149.8) (168.2) (156.3) (163.1) (156.1) (124.9) (62.5) (5.0) 1.5 5.3 5.4 (5.8) (15.8) (10.0) (30.2) (1.2) (8.2) (10.0) (14.9) (22.7) (20.3) (34.0) (26.2) (0.4) 0.4 5.4 (4.9) (4.9) 0.8 (0.4) (5.3)
Total Stockholders' Equity 2,144.3 2,115.5 2,126.1 1,863.6 1,864.6 1,836.7 1,801.2 1,746.9 1,691.6 1,638.4 1,561.6 1,456.7 1,421.0 1,403.0 1,386.9 1,353.4 1,377.4 1,366.2 1,284.3 1,250.7 1,188.7 1,117.1 1,051.5 1,007.8 964.6 1,052.8 1,019.1 991.4 978.4 956.8 954.8 936.2 919.1 921.0 910.6 910.3 879.8 855.9 789.8 680.6 599.2
Total Liabilities & Equity 25,880.8 24,895.9 24,260.2 22,550.8 22,423.0 22,308.2 21,456.1 20,943.0 21,347.4 21,316.3 21,857.2 22,028.6 21,751.6 20,896.1 20,367.6 20,252.0 19,163.7 19,575.0 19,108.9 19,635.1 18,817.7 18,439.2 18,778.7 17,903.1 12,018.8 11,520.7 11,723.8 11,182.4 10,143.9 9,833.4 10,617.1 11,092.8 10,769.3 9,839.6 10,471.8 10,883.5 9,906.6 9,382.7 9,602.6 9,684.6 9,038.9
Debt Metrics
Total Debt 1,902.5 1,705.4 1,477.3 1,477.2 1,415.1 1,409.9 1,398.7 1,324.7 1,501.3 1,509.3 1,835.8 2,348.0 2,357.8 1,105.5 1,170.4 1,710.3 1,105.0 1,179.8 404.8 305.8 1,520.6 1,405.4 1,835.3 1,155.1 2,269.9 1,692.7 1,646.4 1,876.2 1,646.8 1,667.9 1,067.7 2,790.6 2,743.3 2,062.2 1,904.5 2,444.5 1,617.6 1,836.5 1,284.4 2,163.4 1,909.0
Net Debt 1,813.4 1,643.4 (2,708.3) (2,026.3) (2,013.6) (2,376.0) (1,689.3) (1,723.9) (2,199.8) (2,337.1) (1,584.2) (807.2) 311.1 649.7 765.9 1,465.1 830.4 661.7 (647.3) (124.7) 1,005.2 712.1 1,503.8 87.8 2,013.7 1,480.2 1,464.2 1,780.4 1,529.1 1,605.8 401.7 2,538.9 2,527.8 1,915.9 1,685.0 2,042.8 1,460.5 1,571.8 1,018.8 1,860.6 1,646.4
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 69.7 74.5 75.7 60.9 12.9 26.9 46.7 58.1 49.7 62.1 86.8 47.6 53.7 28.7 63.9 58.6 76.8 102.3 116.0 61.3 74.6 56.2 51.0 25.0 8.5 27.5 27.1 9.3 15.4 17.9 6.0 23.7 24.1 21.6 7.8 23.7 25.7 29.4 17.8 21.8 19.3
Depreciation & Amortization 14.2 14.1 1.9 11.6 15.6 9.1 9.7 6.5 8.2 7.6 7.7 7.7 8.8 7.1 6.7 7.3 6.1 5.4 5.5 5.4 5.3 8.0 (0.8) 7.3 7.0 7.7 6.3 4.6 4.3 3.9 3.5 3.4 3.3 3.3 5.1 0.9 1.5 (0.6) 2.4 0.9 0.8
Stock-Based Compensation 5.7 5.4 4.4 4.4 4.2 3.7 3.7 3.2 3.9 2.5 3.5 3.5 3.0 3.4 3.4 3.6 3.7 2.7 3.5 4.6 3.1 3.4 2.2 3.8 3.5 2.6 2.4 2.5 2.4 3.1 2.2 2.2 2.2 1.8 1.8 1.7 1.8 1.3 1.9 1.6 1.7
Change in Working Capital (82.8) 20.0 13.1 39.9 (9.9) (15.2) (19.0) (32.8) (65.8) 8.0 66.6 (49.5) 17.1 (57.5) 10.1 (37.6) 60.4 (32.2) 10.9 14.3 156.7 (14.6) (14.2) 28.8 (60.8) (5.1) (17.2) (13.6) (33.2) (29.0) (1.0) 4.7 0.5 (7.0) (3.6) (26.7) (11.7) (32.2) 46.4 (1.3) (16.9)
Other Non-Cash Items 25.0 5.9 23.5 31.3 96.2 109.3 (16.5) (28.6) (14.6) (198.8) (47.7) 96.0 (83.8) (284.9) 6.5 13.1 (7.2) (69.4) (154.4) (6.4) (55.9) (1.7) (6.2) 15.6 28.9 5.1 3.6 8.9 3.2 0.1 20.0 (3.2) 0.4 165.4 4.1 (4.6) 2.5 238.0 (83.4) (352.9) (183.9)
Operating Cash Flow 35.1 121.6 116.9 162.2 94.1 133.4 24.4 6.1 (18.8) (118.4) 136.1 89.5 17.5 (295.8) 109.0 49.1 116.9 19.4 (14.8) 88.9 177.6 59.6 33.9 74.6 (35.2) 43.6 31.6 9.1 (6.0) (0.9) 32.9 32.1 33.3 199.7 18.0 (7.3) 19.6 238.2 (17.2) (333.0) (178.5)
Investing Activities
Capital Expenditure (0.0) (57.7) (59.5) (23.5) (17.1) (32.9) (12.0) (15.9) (4.4) (20.6) (5.7) (12.8) (2.2) (26.0) (58.3) (25.9) (3.2) (15.8) (8.2) (3.8) (5.1) (13.2) (6.4) (2.7) (6.5) (17.6) (20.6) (4.1) (7.9) (14.3) (17.6) (4.1) (3.0) (22.6) (0.5) (1.4) (0.4) (1.8) (1.4) (0.3) (1.6)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 (225.5) (142.1) (305.7) (350.1) (170.7) (180.2) (81.3) (275.4) (328.9) (1.4) 0 0 (73.1) (427.6) (28.9) (86.6) (814.2) (2,202.4) (533.8) (300.3) (589.9) (177.6) (743.9) (121.6) (158.8) 0 0 0 0 0 0 (7) (756.2) 0 (152.6) (105.5) (538.5) 0 0 0 (5)
Sales/Maturities of Investments 237.9 9.4 242.6 604.9 168.6 629.5 273.0 435.5 207.6 464.7 157.9 136.7 113.9 403.8 194.0 528.6 380.8 82.5 344.1 164.1 416.3 89.4 346.8 163.6 24.1 16.1 108.6 7.1 4.5 5.4 488.9 14.7 11.5 82.4 568.2 127.0 11.8 18.6 17.1 16.1 15.8
Other Investing Activities (638.7) (221.7) (903.1) (350.5) (480.8) (677.4) (566.4) (339.4) (37.5) 717.9 244.9 671.6 766.1 (163.6) (91.8) (1,604.9) 525.4 1,015.4 1,586.8 (803.1) (347.9) 763.0 (1,307.2) (4,981.5) (292.3) 222.6 (540.2) (1,020.1) (192.9) 195.4 417.3 (299.3) (135.8) 319.1 (204.6) (738.3) (77.7) (109.1) 140.0 (244.3) (443.7)
Investing Cash Flow (626.3) (412.1) (1,025.7) (119.2) (500.0) (261.1) (386.7) (195.2) (163.2) 1,160.6 397.1 795.5 804.6 (213.3) 15.0 (1,188.7) 88.7 (1,120.4) 1,388.9 (943.2) (526.7) 661.6 (1,710.8) (4,942.2) (433.5) 221.1 (452.2) (1,017.0) (196.3) 185.0 890.1 (295.6) (883.6) 378.9 211.0 (718.1) (604.8) (92.3) 155.8 (228.6) (434.6)
Financing Activities
Net Debt Issuance 200 228.3 50 60 0 25 55 (175) 0 (340) (510) 0 1,250 300 (135) 535 (700) 700 (3,767.1) (268.3) (1,130.9) (396.0) 391.0 3,835.0 585 (119.3) (196.3) 211.3 (222.2) 413.1 (1,618.0) 137.2 640.8 149.5 (537.3) 891.6 337.8 (167.9) (870.2) 273.2 8.4
Stock Repurchased (42.7) (85) (57.5) 0 (5.6) (1.0) (18.2) 0 0 0 0 0 (39.8) (5.3) 0 (21.5) (6.3) (27.7) 0 0 0 0 0 0 0 0 0 0 (0.6) 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 (1.9) (2.0) (3.4) (3.4) (3.6) (3.8) (3.9) (3.8) (3.8) (3.8) (3.6) (3.5) (3.0) (2.5) (2.1) (1.8) (2.0) (2.0) (3.3) (3.4) (3.4) (3.4) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (3.6) (2.3) (1.9) (1.2)
Other Financing Activities 820.5 375.0 1,435.6 (25.2) 57.1 805.0 368.0 (284.8) 40.1 (274.8) 245.2 227.1 (438.1) 268.7 172.7 598.7 258.9 (119.5) 3,012.7 1,039.9 1,298.6 39.9 553.1 1,847.1 (69.2) (112.1) 706.8 778.1 483.2 (1,184.6) 1,112.7 163.4 281.8 (798.3) 117.9 73.1 162.0 (53.8) 628.8 254.6 578.5
Financing Cash Flow 978.0 516.3 1,590.9 31.8 48.7 825.6 401.7 (463.4) 36.8 (615.8) (268.4) 223.6 768.7 560.5 35.3 1,110.2 (449.0) 566.9 (752.6) 769.4 171.1 (359.2) 941.0 5,678.6 512.4 (234.4) 507.1 986.0 257.8 (788.0) (508.7) 299.8 919.3 (651.8) (422.8) 961.3 497.8 (166.8) (155.8) 581.7 611.1
Cash Position
Net Change in Cash 386.7 225.8 682.1 74.8 (357.2) 697.9 39.4 (652.5) (145.2) 426.4 264.8 1,108.5 1,590.9 51.3 159.3 (29.4) (243.4) (534.0) 621.6 (84.9) (178.0) 361.9 (735.9) 811.1 43.7 30.3 86.4 (21.9) 55.5 (603.9) 414.3 36.3 69.1 (73.2) (193.8) 236.0 (87.4) (20.9) (17.2) 20.2 (2.0)
Cash at Beginning 4,411.5 4,185.6 3,503.5 3,428.7 3,785.9 3,088.0 3,048.6 3,701.1 3,846.3 3,420.0 3,155.2 2,046.7 455.8 404.5 245.2 274.6 518.0 1,052.1 430.5 515.4 693.4 331.4 1,067.3 256.2 212.5 182.2 95.8 117.7 62.1 666.0 251.7 215.4 146.3 219.5 413.2 177.3 264.7 265.6 282.8 262.6 264.6
Cash at End 4,798.2 4,411.5 4,185.6 3,503.5 3,428.7 3,785.9 3,088.0 3,048.6 3,701.1 3,846.3 3,420.0 3,155.2 2,046.7 455.8 404.5 245.2 274.6 518.0 1,052.1 430.5 515.4 693.4 331.4 1,067.3 256.2 212.5 182.2 95.8 117.7 62.1 666.0 251.7 215.4 146.3 219.5 413.2 177.3 244.7 265.6 282.8 262.6
Free Cash Flow 35.1 63.9 57.4 138.7 77.0 100.5 12.4 (9.8) (23.2) (138.9) 130.4 76.6 15.3 (321.8) 50.7 23.2 113.7 3.6 (23.0) 85.2 172.4 46.4 27.5 71.9 (41.6) 26.0 10.9 5.1 (13.9) (15.2) 15.3 28.1 30.3 177.1 17.5 (8.6) 19.2 236.4 (18.6) (333.3) (180.1)
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
Income Statement
Revenue 370.6 387.7 387.5 353.6 285.8 313.5 336.9 361.6 349.0 360.8 390.3 341.4 328.4 264.3 223.0 204.7 202.3 220.0 257.8 180.7 179.4 176.7 163.7 135.1 136.1 149.6 149.6 123.3 120.5 122.8 111.6 123.1 117.2 116.8 115.4 111.8 105.3 65.0 111.1 86.7 78.2 76.5 69.6 66.1 64.2 62.6 56.0 52.0 43.7 38.1 37.5 37.2 32.1 38.4 37.1 32.4 22.0 25.6 17.2 17.3 15.1
Gross Profit 202.3 236.9 201.4 181.5 110.0 130.2 146.3 177.1 160.5 173.9 195.8 152.9 143.8 101.6 154.2 149.4 167.5 185.8 221.6 153.3 153.9 149.5 118.5 80.9 60.3 93.5 94.2 70.7 73.9 79.7 62.6 83.6 83.2 86.7 82.8 86.1 81.6 46.0 91.4 67.7 60.5 56.1 53.7 43.6 48.8 47.9 39.9 41.0 32.3 35.6 30.2 29.5 26.9 31.2 21.6 24.1 15.0 17.3 10.6 8.6 6.7
Operating Income 90.3 119.6 100.3 78.9 11.9 35.9 46.0 77.1 65.4 83.9 110.2 68.3 68.3 35.8 81.8 77.5 96.1 115.2 152.3 81.5 92.2 78.5 63.1 33.0 11.7 35.0 35.1 11.8 20.3 23.0 6.1 30.5 31.5 32.4 22.7 36.0 32.8 43.7 35.8 36.1 29.0 25.2 23.7 18.0 21.6 20.5 15.6 15.8 11.6 13.8 12.8 12.7 11.1 11.1 10.2 10.1 4.7 4.8 3.3 0.2 (2.4)
Net Income 69.7 74.5 75.7 60.9 12.9 26.9 46.7 58.1 49.7 62.1 86.8 47.6 53.7 28.7 63.9 58.6 76.8 100.7 116.0 61.3 36.6 56.2 50.5 22.7 3.1 27.5 27.1 9.3 15.4 17.9 6.0 23.7 24.1 21.6 7.8 23.7 25.7 20.4 21.2 19.5 18.2 17.8 15.3 11.6 14.0 13.2 11.7 10.2 8.1 9.0 8.3 8.2 7.2 7.6 6.6 6.5 3.1 3.2 2.3 0.1 (1.7)
EPS (Diluted) 1.97 1.98 2.20 1.73 0.29 0.71 1.31 1.66 1.40 1.79 2.58 1.39 1.55 0.77 1.85 1.68 2.18 2.87 3.25 1.72 1.01 1.65 1.48 0.61 0.22 0.75 0.74 0.18 0.38 0.44 0.07 0.62 0.64 0.55 0.13 0.62 0.67 0.51 0.64 0.60 0.57 0.58 0.50 0.41 0.49 0.47 0.44 0.38 0.30 0.34 0.30 0.30 0.39 0.41 0.46 0.57 0.27 0.28 0.21 0.01 -0.15
Balance Sheet
Cash & Equivalents 89.2 62.1 4,185.6 3,503.5 3,428.7 3,785.9 3,088.0 3,048.6 3,701.1 3,846.3 3,420.0 3,155.2 2,046.7 455.8 404.5 245.2 274.6 518.0 1,052.1 430.5 515.4 693.4 331.4 1,067.3 256.2 212.5 182.2 95.8 117.7 62.1 666.0 251.7 215.4 146.3 219.5 401.7 157.1 264.7 265.6 302.8 262.6
Total Assets 25,880.8 24,895.9 24,260.2 22,550.8 22,423.0 22,308.2 21,456.1 20,943.0 21,347.4 21,316.3 21,857.2 22,028.6 21,751.6 20,896.1 20,367.6 20,252.0 19,163.7 19,575.0 19,108.9 19,635.1 18,817.7 18,439.2 18,778.7 17,903.1 12,018.8 11,520.7 11,723.8 11,182.4 10,143.9 9,833.4 10,617.1 11,092.8 10,769.3 9,839.6 10,471.8 10,883.5 9,906.6 9,382.7 9,602.6 9,684.6 9,038.9
Total Debt 1,902.5 1,705.4 1,477.3 1,477.2 1,415.1 1,409.9 1,398.7 1,324.7 1,501.3 1,509.3 1,835.8 2,348.0 2,357.8 1,105.5 1,170.4 1,710.3 1,105.0 1,179.8 404.8 305.8 1,520.6 1,405.4 1,835.3 1,155.1 2,269.9 1,692.7 1,646.4 1,876.2 1,646.8 1,667.9 1,067.7 2,790.6 2,743.3 2,062.2 1,904.5 2,444.5 1,617.6 1,836.5 1,284.4 2,163.4 1,909.0
Stockholders' Equity 2,144.3 2,115.5 2,126.1 1,863.6 1,864.6 1,836.7 1,801.2 1,746.9 1,691.6 1,638.4 1,561.6 1,456.7 1,421.0 1,403.0 1,386.9 1,353.4 1,377.4 1,366.2 1,284.3 1,250.7 1,188.7 1,117.1 1,051.5 1,007.8 964.6 1,052.8 1,019.1 991.4 978.4 956.8 954.8 936.2 919.1 921.0 910.6 910.3 879.8 855.9 789.8 680.6 599.2
Cash Flow
Operating Cash Flow 35.1 121.6 116.9 162.2 94.1 133.4 24.4 6.1 (18.8) (118.4) 136.1 89.5 17.5 (295.8) 109.0 49.1 116.9 19.4 (14.8) 88.9 177.6 59.6 33.9 74.6 (35.2) 43.6 31.6 9.1 (6.0) (0.9) 32.9 32.1 33.3 199.7 18.0 (7.3) 19.6 238.2 (17.2) (333.0) (178.5)
Capital Expenditure (0.0) (57.7) (59.5) (23.5) (17.1) (32.9) (12.0) (15.9) (4.4) (20.6) (5.7) (12.8) (2.2) (26.0) (58.3) (25.9) (3.2) (15.8) (8.2) (3.8) (5.1) (13.2) (6.4) (2.7) (6.5) (17.6) (20.6) (4.1) (7.9) (14.3) (17.6) (4.1) (3.0) (22.6) (0.5) (1.4) (0.4) (1.8) (1.4) (0.3) (1.6)
Free Cash Flow 35.1 63.9 57.4 138.7 77.0 100.5 12.4 (9.8) (23.2) (138.9) 130.4 76.6 15.3 (321.8) 50.7 23.2 113.7 3.6 (23.0) 85.2 172.4 46.4 27.5 71.9 (41.6) 26.0 10.9 5.1 (13.9) (15.2) 15.3 28.1 30.3 177.1 17.5 (8.6) 19.2 236.4 (18.6) (333.3) (180.1)