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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 29
HOLD 7
SELL 1
STRONG
SELL
0
| PRICE TARGET: $326.13 DETAILS
HIGH: $360.00
LOW: $275.00
MEDIAN: $331.00
CONSENSUS: $326.13
UPSIDE: 16.78%
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 16,081.2 15,741.4 15,320.2 14,187.8 12,733.1 11,790.2 12,562 14,668.2 13,835.9 13,152.8 13,545.1 14,280.5 13,253.4 11,838.8 6,828.4 6,089.7 5,899.8 6,137.5 5,469.6 4,895.8 4,534.8 4,184.9 3,761.8 3,403.6 2,354.7 2,264.3 2,080 1,888.2 1,640.4 1,490 1,340.9 1,207.6 1,041.5 1,004.8 918 1,390 1,305.6 1,211.9 1,020.2 812.9
Cost of Revenue 8,923.1 8,898.4 9,143 8,767.5 7,511.2 6,892.1 7,033.2 8,608.9 8,006.5 6,849.7 7,179.9 7,670.9 7,196.1 6,391.6 3,462 3,009.7 2,970.8 3,141.6 2,691.7 2,416.1 2,248.8 2,033.6 1,845.2 1,687.6 1,089.6 877.5 803.1 729.2 621.2 585.4 527.1 466.2 393.6 393 367.5 586.5 574.8 529.8 426.3 357.1
Gross Profit 7,158.1 6,843 6,177.2 5,420.3 5,221.9 4,898.1 5,528.8 6,059.3 5,829.4 6,303.1 6,365.2 6,609.6 6,057.3 5,447.2 3,366.4 3,080 2,929 2,995.9 2,777.9 2,479.8 2,286.0 2,151.3 1,916.6 1,716.0 1,265.1 1,386.8 1,276.9 1,159 1,019.2 904.6 813.8 741.4 647.9 611.8 550.5 803.5 730.8 682.1 593.9 455.8
Operating Expenses
R&D Expenses 0 207 192 190 186 185 190 216 201 189 191 197 188 183 96 88 86 86 82.6 73.3 68.4 61.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 4,257.9 4,023.6 3,824.5 3,620.8 3,351.4 3,003.5 3,430.3 3,861.8 3,428.9 4,106.7 4,191.3 4,391.1 4,091.6 3,738.4 2,342.7 2,168.7 2,092.6 2,171.5 2,008.3 1,794.8 1,675.2 1,595.6 1,433.6 1,283.1 946.1 916.0 852.4 775.1 699.8 629.7 575 529.5 466.6 434.9 385.2 599.2 562.9 503.3 394.8 345.3
Other Expenses (12.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.4 37.0 1.4 148.4 134.5 122 100.9 89.5 76.1 66.9 59.5 59.4 55 82.9 75.3 69.9 56.1 35.5
Operating Expenses 4,245.5 4,230.6 4,016.5 3,810.8 3,537.4 3,188.5 3,620.3 4,077.8 3,629.9 4,295.7 4,382.3 4,588.1 4,279.6 3,921.4 2,438.7 2,256.7 2,178.6 2,257.5 2,090.9 1,868.1 1,743.6 1,657.1 1,434.0 1,320.1 947.5 1,064.4 986.9 897.1 800.7 719.2 651.1 596.4 526.1 494.3 440.2 682.1 638.2 573.2 450.9 380.8
Operating Income
Operating Income 2,912.6 2,612.4 2,160.7 1,609.5 1,684.5 1,709.6 1,908.5 1,981.5 2,199.5 2,007.4 1,982.9 2,021.5 1,777.7 1,525.8 927.7 823.3 750.4 738.4 687 611.6 542.4 494.3 482.7 395.9 318.2 322.4 290 261.9 218.5 185.4 162.7 145 121.8 117.5 110.3 121.4 92.6 108.9 143 75
Interest Expense 241.1 338.4 354.7 263.7 216.2 246.1 241.9 274.1 267 276.2 242.5 254.9 259.6 256.6 74.4 71.5 58.8 70.8 56.8 51.3 49.8 48.5 34.6 83.0 12.9 0 0 0 0 0 0 7 3.7 17.3 320.3 28 126.4 27.2 0 0
Interest Income 0 57.8 52.2 8.5 12.3 14.6 23.7 14.9 19.6 20.8 10.1 11.4 10.5 8.9 7.9 6.5 6.3 9.2 7.9 6.9 5.6 3.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 3,461.6 3,845 3,033.8 2,545.8 2,473.5 2,220.2 2,748.7 3,017 2,922.7 2,777.3 2,419.7 2,825.3 2,374.1 1,983.7 1,149.7 1,167.1 1,013.2 1,056.4 965 887.1 804.9 739.9 712.3 619.3 481.2 391.6 424.5 383.9 319.4 274.9 238.8 211.9 181.3 176.9 165.3 204.3 167.9 178.8 199.1 110.5
EBIT 2,789 2,909.6 2,110.2 1,607.1 1,630.4 1,407.5 1,973.4 2,078.7 2,029.4 1,926.6 1,560.2 1,953.3 1,557.9 1,269.2 754 819.2 678.9 721.7 673.1 618.5 548.0 492.9 482.7 395.9 318.2 243.1 290 261.9 218.5 185.4 162.7 145 121.8 117.5 110.3 121.4 92.6 108.9 143 75
Income Before Tax 2,547.9 2,571.2 1,755.5 1,343.4 1,414.2 1,161.4 1,731.5 1,804.6 1,762.4 1,650.4 1,317.7 1,698.4 1,298.3 1,012.6 679.6 747.7 620.1 650.9 616.3 567.2 498.2 444.5 448.4 352.0 289.7 338.1 285.6 256.3 219.3 184 158.9 135 109.3 91.6 84.7 93.4 13.7 78.1 90 72.3
Income Tax Expense 454.6 439.3 362.5 234.5 270.2 176.6 288.6 364.3 243.8 403.3 300.5 476.2 324.7 311.3 216.3 216.6 201.4 202.8 189.1 198.6 178.7 161.9 171.1 140.1 117.4 129.5 109.8 101.8 85.3 70.8 59.7 50.4 33.4 27.3 29 39.7 10.6 34 48.3 28.6
Net Income 2,075.6 2,112.4 1,372.3 1,091.7 1,129.9 (1,205.1) 1,558.9 1,429.1 1,504.6 1,229.6 1,002.1 1,202.8 967.8 703.6 462.5 530.3 417.3 448.1 427.2 368.6 319.5 282.7 277.3 209.8 188.2 206.1 175.8 192.5 134 113.2 99.2 84.6 76.6 64.3 (243.6) 53.7 3.1 44.1 141.8 43.7
Per Share Data
EPS (Basic) 7.33 7.43 4.82 3.83 3.95 -4.20 5.41 4.95 5.20 4.20 3.38 4.01 3.23 2.41 1.95 2.27 1.76 1.83 1.73 1.46 1.25 1.10 1.07 0.76 0.74 0.81 0.68 0.75 0.52 0.44 0.38 0.63 0.30 0.26 -1.14 0.25 0.01 0.21 0.67 0.21
EPS (Diluted) 7.28 7.37 4.79 3.81 3.91 -4.20 5.33 4.88 5.12 4.14 3.32 3.93 3.16 2.35 1.91 2.23 1.74 1.80 1.70 1.43 1.23 1.09 1.06 0.75 0.72 0.78 0.65 0.72 0.50 0.42 0.38 0.63 0.30 0.26 -1.14 0.25 0.01 0.20 0.64 0.20
Shares Outstanding 283.3 284.3 285 285.2 286.3 287 288.1 288.6 289.6 292.5 296.4 300.1 299.9 292.5 236.9 233.4 236.7 245.4 246.8 252.1 255.7 257.6 259.5 258.1 254.8 255.5 259.1 258.3 258.9 258.0 264.4 251.0 255.3 247.3 216.3 187.8 180 215.1 213.2 213.2
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
Current Assets
Cash & Cash Equivalents 646.2 1,256.8 919.5 598.6 359.9 1,260.2 118.8 114.7 211.4 327.4 92.8 209.6 339.2 1,157.8 1,843.6 242.3 73.6 66.7 137.4 484.0 104.4 71.2 85.6 49.2 41.8 44.0 47.7 28.4 61.2 69.3 24.7 98.3 48.1 36.5 77.6 27.9 122.3 18.9 49 80.2
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 125.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 3,596.6 3,028.3 3,021.1 2,882.2 2,629.7 2,442.4 2,489 2,662.5 2,571.4 2,446.2 2,390.2 2,626.7 2,568 2,225.1 2,095.3 999.6 1,016.1 971 974 867.5 743.5 738.3 626.0 553.2 514.1 326.9 299.8 246.7 246 205 198.4 168.8 141.7 139.8 130.8 134.9 167.1 161.6 144 133.8
Inventory 1,490.4 1,464.9 1,497.2 1,792.8 1,491.8 1,285.2 1,081.6 1,546.4 1,445.9 1,319.4 1,388.2 1,466.9 1,321.9 1,088.1 1,069.6 447.6 493.4 467.2 450.8 364.9 325.6 338.6 310.0 291.5 279.8 168.2 176.4 165.6 154.8 122.2 106.1 100 76.2 67.7 71.3 76 95.4 91 89.9 65.8
Other Current Assets 62.9 124.3 62.4 96.7 84.5 30.5 1,037.2 222 211.5 88.1 481.7 445.1 469.3 421 387.5 180.4 231.1 186.2 155.1 137.1 123.1 131.0 128.8 122.1 93.9 61.4 53.4 62.8 47.5 39 28.9 34.1 32 9.7 4.7 10.6 15.5 14.9 17.5 5
Total Current Assets 5,955.6 6,025.7 5,644.1 5,494.2 4,687.1 5,117.4 4,828.4 4,677.7 4,596.4 4,279.4 4,447.5 4,871.1 4,698.4 4,892 5,396 1,869.9 1,814.2 1,691.1 1,717.3 1,853.6 1,421.7 1,279.1 1,150.3 1,015.9 929.6 600.6 577.3 503.5 509.5 435.5 358.1 401.2 298 253.7 284.4 249.4 400.3 286.4 300.4 284.8
Non-Current Assets
Property, Plant & Equipment 5,042.5 4,475.6 4,028.1 3,741.6 3,685.3 3,548.7 3,695 3,836 3,707.1 3,365 3,228.3 3,050.6 2,882 2,409.1 2,295.4 1,148.3 1,176.2 1,135.2 1,083.4 951.6 835.5 834.7 736.8 680.3 644.3 501.6 448.1 420.2 395.6 332.3 292.9 246.2 207.1 195.3 188.8 254.3 274.1 268.7 257.2 144.3
Goodwill 9,227 7,907.3 8,148.2 8,012.7 8,063.9 6,006.9 5,569.1 7,078 7,167.1 6,383 6,490.8 6,717 6,862.9 5,920.5 5,855.3 1,329.3 1,414.1 1,267.7 1,279.2 1,035.9 0 0 0 695.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 3,688.5 3,308.8 3,493.5 3,680.7 4,224.1 2,977 2,927.5 3,797.7 4,017.6 3,817.8 4,109.2 4,456.8 4,785.3 4,044.1 4,275.2 282.5 312.5 326.7 328.9 223.8 1,140.0 1,220.9 1,001.1 188.7 775.9 307.1 249.7 165.6 217.1 96.9 50.8 37.5 37.3 26.9 33.4 314.6 336.3 358.2 373 0
Long-Term Investments 0 45.1 23.6 44.5 29.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 601.7 469.8 389.8 382.5 396 312.8 3,712.9 580 372 392.7 307.6 278.5 353.4 255.6 300.9 130.2 164.3 336.2 314 178.3 324.3 381.5 340.7 248.5 175.2 304.7 310.8 381.7 294.1 343.7 359.1 335.5 320.2 356.5 415.3 107.7 32.2 30 28.3 46
Total Non-Current Assets 18,740.7 16,362.1 16,202.5 15,970.1 16,519.3 13,008.6 16,040.7 15,396.8 15,366 14,050.8 14,194.2 14,595.6 14,938.1 12,680.3 12,844.8 3,002.3 3,206.7 3,065.8 3,005.5 2,565.8 2,375.0 2,437.1 2,078.6 1,862.5 1,595.4 1,113.4 1,008.6 967.5 906.8 772.9 702.8 619.2 564.6 578.7 637.5 676.6 642.6 656.9 658.5 190.3
Total Assets 24,696.3 22,387.8 21,846.6 21,464.3 21,206.4 18,126 20,869.1 20,074.5 19,962.4 18,330.2 18,641.7 19,466.7 19,636.5 17,572.3 18,240.8 4,872.2 5,020.9 4,756.9 4,722.8 4,419.4 3,796.6 3,716.2 3,228.9 2,878.4 2,525 1,714.0 1,585.9 1,471 1,416.3 1,208.4 1,060.9 1,020.4 862.6 832.4 921.9 926 1,042.9 943.3 958.9 475.1
Current Liabilities
Account Payables 2,071 1,810 1,566.3 1,728.2 1,384.2 1,160.6 1,075.3 1,255.6 1,177.1 983.2 1,049.6 1,162.4 1,021.9 879.7 815.7 349.3 360.9 359.6 343.7 330.9 277.6 269.6 212.3 205.7 199.8 146.4 122.7 124.6 130.7 103.8 81.9 76.9 69.5 58.6 59.8 63.5 78.7 0 0 0
Short-Term Debt 870.4 615.7 630.4 505.1 411 17.3 380.6 743.6 564.4 541.3 2,205.3 1,705.4 861 805.8 1,023 189.2 98.5 338.9 403.5 509.0 226.9 56.1 70.2 160.1 233.4 136.6 112.1 68 48.9 27.6 71.6 41.8 17.9 19.2 81.5 35.6 44 42.8 61.7 17.9
Deferred Revenue 0 102 110.9 116.5 91.7 80.4 76.7 75.8 1,032.2 603.7 561.2 649 652 596.2 764 344.8 323.9 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 1,737.5 1,577.2 1,097.9 1,182.3 937.4 982.9 1,559.6 930.3 1,000.7 562.4 948.3 869.8 953.8 1,173 748.7 441.5 466.9 436 463.2 392.5 361.1 359.3 569.5 500.6 394.8 249.0 235.9 207.2 224.9 196.4 157 135 108.9 110 96.3 135.3 134.6 186 225.4 110.7
Total Current Liabilities 5,534.7 4,792.8 4,345.8 4,210.4 3,553.2 2,932.2 3,630.6 3,685.6 3,431.8 3,019.4 4,764.4 4,386.6 3,488.7 3,052.7 3,166.3 1,324.8 1,250.2 1,441.9 1,518.3 1,502.7 1,119.4 939.5 851.9 866.4 828.0 532.0 470.7 399.8 404.5 327.8 310.5 253.7 196.3 187.8 237.6 234.4 257.3 228.8 287.1 128.6
Non-Current Liabilities
Long-Term Debt 7,962.4 6,949.2 7,551.4 8,075.3 8,347.2 6,669.3 5,973.1 6,301.6 6,758.3 6,145.7 4,260.2 4,843.4 6,043.5 5,736.1 6,613.2 656.4 868.8 799.3 599.9 557.1 519.4 645.4 604.4 539.7 512.3 234.4 169 227 259.4 148.7 89.4 105.4 125.7 208.5 318.8 204.7 225 253.7 254.4 60.1
Deferred Tax Liabilities 329.9 280 418.2 505.6 622 483.9 537.3 764.6 635.4 970.2 1,281.2 1,415.8 1,661.3 1,174.2 1,305.3 65.3 86.7 74.2 86.1 92.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9.8
Other Non-Current Liabilities 468.3 1,001.1 1,033.5 1,076.6 1,148.3 1,538.6 1,656.3 1,262.9 2,076.2 1,224 1,355.5 1,438.8 1,033.6 1,402.9 160.7 192.2 288.6 869.9 582.8 586.9 508.7 568.7 477.1 372.6 304.4 190.6 184.2 153.7 200.7 211.9 204.3 199.5 166.3 92.6 67.3 34.3 45 27.5 23.2 15
Total Non-Current Liabilities 9,357.1 8,805.8 9,428.6 9,995.3 10,400.1 8,992.3 8,512.7 8,335.3 8,834.5 8,339.9 6,896.9 7,698 8,738.4 8,359.5 9,333.4 1,414.4 1,761.1 1,743.4 1,268.8 1,236.4 1,028.1 1,214.1 1,081.5 912.3 816.7 425.0 353.2 380.7 460.1 360.6 293.7 304.9 292 301.1 386.1 239 270 281.2 277.6 84.9
Total Liabilities 14,891.8 13,598.6 13,774.4 14,205.7 13,953.3 11,924.5 12,143.3 12,020.9 12,273.7 11,359.3 11,661.3 12,084.6 12,227.1 11,412.2 12,499.7 2,739.2 3,011.3 3,185.3 2,787.1 2,739.1 2,147.4 2,153.7 1,933.5 1,778.7 1,644.6 957.0 823.9 780.5 864.6 688.4 604.2 558.6 488.3 488.9 623.7 473.4 527.3 510 564.7 213.5
Stockholders' Equity
Common Stock 369.4 367.8 365.7 364.7 364.1 362.6 359.6 357 354.7 352.6 350.3 347.7 345.1 342.1 336.1 333.1 329.8 328 326.5 322.6 318.6 315.7 310.3 151.9 149.7 0 145.6 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings 12,834 11,517.1 10,075.4 9,318.8 8,814.5 8,243 9,993.7 8,909.5 8,045.4 6,975 6,160.3 5,555.1 4,699 4,020.6 3,559.9 3,279.1 2,898.1 2,617 2,298.4 1,983.3 1,719.2 1,586.0 1,359.9 1,159.7 1,021.0 757.0 756.6 638.5 495 404.4 325.7 257.5 185.8 133.5 91.7 366.4 336.8 352.9 326.4 200.3
Accumulated Other Comprehensive Income (1,874.3) (1,982) (1,850.4) (1,726.6) (1,634.8) (1,994.4) (2,089.7) (1,761.7) (1,642.3) (1,712.9) (1,423.3) (951.9) (305.2) (459.7) (344.9) (271.9) (232.9) (359.1) 63.1 (96.5) 9.8 71.7 3.7 (77.8) (99.3) (509.1) (73.1) (454.8) (400) (356.2) (327) 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 9,770.8 8,757.3 8,044.7 7,236.1 7,224.2 6,166.5 8,685.3 8,003.2 7,618.5 6,901.1 6,909.9 7,315.9 7,344.3 6,077 5,666.7 2,129.2 2,000.9 1,571.6 1,935.7 1,680.2 1,649.2 1,562.5 1,295.4 1,099.8 880.4 757.0 762 690.5 551.7 520 456.7 461.8 374.3 343.5 298.2 452.6 515.6 433.3 394.2 261.6
Total Liabilities & Equity 24,696.3 22,387.8 21,846.6 21,464.3 21,206.4 18,126 20,869.1 20,074.5 19,962.4 18,330.2 18,641.7 19,466.7 19,636.5 17,572.3 18,240.8 4,872.2 5,020.9 4,756.9 4,722.8 4,419.4 3,796.6 3,716.2 3,228.9 2,878.4 2,525 1,714.0 1,585.9 1,471 1,416.3 1,208.4 1,060.9 1,020.4 862.6 832.4 921.9 926 1,042.9 943.3 958.9 475.1
Debt Metrics
Total Debt 9,429.3 8,282.7 8,733.4 9,026.5 9,155.9 7,112.7 6,821.8 7,045.2 7,322.7 6,687 6,465.5 6,548.2 6,904.5 6,541.9 7,636.2 845.6 967.3 1,138.2 1,003.4 1,066.1 746.3 701.6 674.6 699.8 745.7 371.0 281.1 295 308.3 176.3 161 147.2 143.6 227.7 400.3 240.3 269 296.5 316.1 78
Net Debt 8,783.1 7,025.9 7,813.9 8,427.9 8,796 5,852.5 6,703 6,930.5 7,111.3 6,359.6 6,372.7 6,338.6 6,565.3 5,384.1 5,792.6 603.3 893.7 1,071.5 866 582.1 641.9 630.3 589.0 650.6 703.9 327.0 233.4 266.6 247.1 107 136.3 48.9 95.5 191.2 322.7 212.4 146.7 277.6 267.1 (2.2)
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 2,093.3 2,131.9 1,372.3 1,108.9 1,144 (1,185.5) 1,442.9 1,440.3 1,522.4 1,247.1 1,017.2 1,222.2 973.6 701.3 463.3 531.1 418.7 448.1 427.2 368.6 319.5 310.5 277.3 209.8 188.2 208.6 175.8 154.5 134 113.2 99.2 84.6 75.9 64.3 (219) 53.7 3.1
Depreciation & Amortization 672.6 935.4 923.6 938.7 843.1 812.7 775.3 938.3 893.3 850.7 859.5 872 816.2 714.5 395.7 347.9 334.3 334.7 291.9 268.6 256.9 247.4 229.7 223.4 163.0 148.4 134.5 122 100.9 89.5 76.1 66.9 59.5 59.4 55 82.9 75.3
Stock-Based Compensation 136.6 134.8 95.1 87.8 89.5 82.1 84 94.4 90.5 85.7 78.2 71.1 69.6 65.8 39.9 29.2 37.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (206.2) 176.1 162.7 (276.7) 0.6 (209.2) (117.5) (319.8) 39.7 29 (79.4) (182.8) (196.6) (67.9) (226.3) 44.2 (31.7) (135.5) 62.8 (9.0) 0.2 (2.5) (12.7) (69.9) 10.1 (2.2) (16) 4.2 (14.2) 54.6 (9.9) 5.4 28.3 (0.7) 11.5 3.3 46.7
Other Non-Cash Items 289.7 (373.8) (86.2) 72.3 (14.2) 2,405.9 258.1 39.4 (100.1) (182.2) 368.8 (45.4) 27.5 (207.5) (28.8) 29.1 (151.7) 44.5 17.3 16.6 26.5 2.8 (7.6) 10.1 6.2 (27.7) (0.1) (0.1) (0.1) 0.1 0.2 0.3 (1.6) 2.1 (2.2) 0.7 5.8
Operating Cash Flow 2,952.6 2,813.9 2,411.8 1,788.4 2,061.9 1,860.2 2,420.7 2,277.7 2,091.3 1,939.7 1,999.8 1,815.6 1,559.8 1,203 685.5 950.4 695 753.2 797.6 627.6 590.1 582.5 529.2 423.3 364.5 315.5 293.5 235.6 235.1 254.3 166.5 169.3 170 113.1 122.3 146.2 114.6
Investing Activities
Capital Expenditure (1,048.3) (994.5) (774.8) (712.8) (643) (489) (731.3) (847.1) (868.6) (756.8) (815.2) (793.9) (662.3) (607.5) (366) (297.7) (297.3) (394.5) (361.5) (320.9) (268.8) (275.9) (212.0) (212.8) (157.9) (150.0) (191.6) (187.8) (121.7) (111.5) (109.9) (88.5) (67) (57.2) (52) (64.2) (62)
Acquisitions (1,621.3) 576.8 (180.4) (7.2) (3,923.7) (370.8) (384.6) (220.6) (870.4) (48.6) (269.6) (72.2) (1,446) 87.7 (1,633.2) (27.4) (13.7) (201.6) (309.6) (63.7) (27.0) (129.8) (40.7) (67.3) (469.8) (90.6) 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 30 10.7 30.5 15 0 0 0 0 0 0 0 0 0 (185.7) 0 0 0 0 0 0 0 0 0 0 0 0 (3.2) (4.9) (15.4) 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 14.1 2.1 1.3 108.4 0 0 0 0 0 0 0 0 125.1 60.6 0 0 0 0 0 0 0 0 0 4 5 26.5 0 0 0 0
Other Investing Activities (37.6) (16.1) (35.3) 3.2 (13) 445.3 (83.2) (6.4) 53 (55.9) 45.6 17.8 20.6 31.9 (25.1) 21.5 11.7 15.4 7.4 25.6 11.7 12.1 35.6 6.8 3.0 37.9 17.1 26 (155) (53.1) (17.6) 5.4 (1.6) 95.7 (135.9) (18.9) (5.6)
Investing Cash Flow (2,707.2) (433.8) (990.5) (716.8) (4,579.7) (414.5) (1,199.1) (1,030) (1,673.2) (829.5) (915.8) (848.3) (2,087.7) (487.9) (2,024.3) (303.6) (299.3) (580.7) (663.7) (234.0) (409.1) (393.6) (217.1) (273.3) (624.7) (202.7) (174.5) (161.8) (276.7) (164.6) (123.5) (78.1) (42.1) 35.3 (192.8) (98.5) (67.6)
Financing Activities
Net Debt Issuance 469.6 (628.5) (501.9) 89.7 2,121.3 143.3 (652.6) (209.8) 466.7 214 (123.1) (308.2) 110.6 (1,081) 3,725.4 (74) (250.4) 186 (114.3) 262.2 95.6 (16.8) (101.7) (109.1) 337.8 102.3 (15.6) (8.6) 111.1 (2.7) 11.4 (6.1) (87.7) (173) 149 (14.6) (26.3)
Stock Repurchased (783.8) (986.5) (13.7) (518.2) (106.6) (146.2) (353.7) (562.4) (600.3) (739.6) (755.1) (428.6) (307.6) (209.9) (690) (348.8) (68.8) (337.2) (371.4) (282.8) (213.3) (165.4) (227.1) (8.9) (32.2) (186.5) (42.4) (53) (60.8) (22.8) (90.4) (7.9) (9.3) (0.5) (2.4) (104.4) (11.5)
Dividends Paid (753.6) (664.3) (617.3) (602.8) (566.4) (560.8) (552.9) (496.5) (448.7) (427.5) (400.7) (344.4) (218.1) (306.8) (162.9) (145.5) (132.7) (128.5) (114) (101.2) (89.8) (82.4) (75.4) (69.6) (66.5) (61.6) (54.3) (49) (41.5) (36.1) (33.1) (27.9) (24) (22) (22) (24.4) (18)
Other Financing Activities (13.7) 255.2 78.2 194 154.9 221.9 209.6 94.3 59.6 84.9 128 10.2 122.5 40.4 61.3 16.9 7.7 44.1 20.6 17.6 11.7 10.8 (0.3) (1.7) 18.4 30.6 13.2 5.7 26.3 17.1 (4.5) 1.1 5.1 6.4 2 0.7 2.7
Financing Cash Flow (853.3) (2,024.1) (1,054.7) (837.3) 1,603.2 (341.8) (1,349.6) (1,172.7) (522.7) (868.2) (1,150.9) (1,071) (292.6) (1,393.6) 2,933.8 (462.2) (397.8) (235.6) (482.4) (16.4) (146.0) (205.4) (278.0) (143.7) 257.5 (115.2) (99.1) (104.9) 35.1 (44.5) (116.6) (40.8) (115.9) (189.1) 126.6 (142.7) 56.9
Cash Position
Net Change in Cash (610.6) 337.3 320.9 238.7 (900.3) 1,073.8 (107.6) 82.6 (116) 234.6 (116.8) (129.6) (818.6) (685.8) 1,601.3 168.7 6.9 (70.7) (346.6) 379.7 33.1 (14.4) 36.4 7.4 (2.2) (3.8) 19.3 (32.7) (8.1) 44.6 (73.4) 49.6 11.7 (41.2) 56.4 (94.4) 103.5
Cash at Beginning 1,256.8 919.5 598.6 359.9 1,260.2 186.4 294 211.4 327.4 92.8 209.6 339.2 1,157.8 1,843.6 242.3 73.6 66.7 137.4 484 104.4 71.2 85.6 49.2 41.8 44.0 47.7 28.4 61.2 69.3 24.7 98.3 48.6 36.5 77.6 21.2 122.3 18.9
Cash at End 646.2 1,256.8 919.5 598.6 359.9 1,260.2 186.4 294 211.4 327.4 92.8 209.6 339.2 1,157.8 1,843.6 242.3 73.6 66.7 137.4 484.0 104.4 71.2 85.6 49.2 41.8 44.0 47.7 28.5 61.2 69.3 24.9 98.2 48.2 36.4 77.6 27.9 122.4
Free Cash Flow 1,904.3 1,819.4 1,637 1,075.6 1,418.9 1,371.2 1,689.4 1,430.6 1,222.7 1,182.9 1,184.6 1,021.7 897.5 595.5 319.5 652.7 397.7 358.7 436.1 306.6 321.4 306.6 317.2 210.6 206.5 165.5 101.9 47.8 113.4 142.8 56.6 80.8 103 55.9 70.3 82 52.6
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 16,081.2 15,741.4 15,320.2 14,187.8 12,733.1 11,790.2 12,562 14,668.2 13,835.9 13,152.8 13,545.1 14,280.5 13,253.4 11,838.8 6,828.4 6,089.7 5,899.8 6,137.5 5,469.6 4,895.8 4,534.8 4,184.9 3,761.8 3,403.6 2,354.7 2,264.3 2,080 1,888.2 1,640.4 1,490 1,340.9 1,207.6 1,041.5 1,004.8 918 1,390 1,305.6 1,211.9 1,020.2 812.9
Gross Profit 7,158.1 6,843 6,177.2 5,420.3 5,221.9 4,898.1 5,528.8 6,059.3 5,829.4 6,303.1 6,365.2 6,609.6 6,057.3 5,447.2 3,366.4 3,080 2,929 2,995.9 2,777.9 2,479.8 2,286.0 2,151.3 1,916.6 1,716.0 1,265.1 1,386.8 1,276.9 1,159 1,019.2 904.6 813.8 741.4 647.9 611.8 550.5 803.5 730.8 682.1 593.9 455.8
Operating Income 2,912.6 2,612.4 2,160.7 1,609.5 1,684.5 1,709.6 1,908.5 1,981.5 2,199.5 2,007.4 1,982.9 2,021.5 1,777.7 1,525.8 927.7 823.3 750.4 738.4 687 611.6 542.4 494.3 482.7 395.9 318.2 322.4 290 261.9 218.5 185.4 162.7 145 121.8 117.5 110.3 121.4 92.6 108.9 143 75
Net Income 2,075.6 2,112.4 1,372.3 1,091.7 1,129.9 (1,205.1) 1,558.9 1,429.1 1,504.6 1,229.6 1,002.1 1,202.8 967.8 703.6 462.5 530.3 417.3 448.1 427.2 368.6 319.5 282.7 277.3 209.8 188.2 206.1 175.8 192.5 134 113.2 99.2 84.6 76.6 64.3 (243.6) 53.7 3.1 44.1 141.8 43.7
EPS (Diluted) 7.28 7.37 4.79 3.81 3.91 -4.20 5.33 4.88 5.12 4.14 3.32 3.93 3.16 2.35 1.91 2.23 1.74 1.80 1.70 1.43 1.23 1.09 1.06 0.75 0.72 0.78 0.65 0.72 0.50 0.42 0.38 0.63 0.30 0.26 -1.14 0.25 0.01 0.20 0.64 0.20
Balance Sheet
Cash & Equivalents 646.2 1,256.8 919.5 598.6 359.9 1,260.2 118.8 114.7 211.4 327.4 92.8 209.6 339.2 1,157.8 1,843.6 242.3 73.6 66.7 137.4 484.0 104.4 71.2 85.6 49.2 41.8 44.0 47.7 28.4 61.2 69.3 24.7 98.3 48.1 36.5 77.6 27.9 122.3 18.9 49 80.2
Total Assets 24,696.3 22,387.8 21,846.6 21,464.3 21,206.4 18,126 20,869.1 20,074.5 19,962.4 18,330.2 18,641.7 19,466.7 19,636.5 17,572.3 18,240.8 4,872.2 5,020.9 4,756.9 4,722.8 4,419.4 3,796.6 3,716.2 3,228.9 2,878.4 2,525 1,714.0 1,585.9 1,471 1,416.3 1,208.4 1,060.9 1,020.4 862.6 832.4 921.9 926 1,042.9 943.3 958.9 475.1
Total Debt 9,429.3 8,282.7 8,733.4 9,026.5 9,155.9 7,112.7 6,821.8 7,045.2 7,322.7 6,687 6,465.5 6,548.2 6,904.5 6,541.9 7,636.2 845.6 967.3 1,138.2 1,003.4 1,066.1 746.3 701.6 674.6 699.8 745.7 371.0 281.1 295 308.3 176.3 161 147.2 143.6 227.7 400.3 240.3 269 296.5 316.1 78
Stockholders' Equity 9,770.8 8,757.3 8,044.7 7,236.1 7,224.2 6,166.5 8,685.3 8,003.2 7,618.5 6,901.1 6,909.9 7,315.9 7,344.3 6,077 5,666.7 2,129.2 2,000.9 1,571.6 1,935.7 1,680.2 1,649.2 1,562.5 1,295.4 1,099.8 880.4 757.0 762 690.5 551.7 520 456.7 461.8 374.3 343.5 298.2 452.6 515.6 433.3 394.2 261.6
Cash Flow
Operating Cash Flow 2,952.6 2,813.9 2,411.8 1,788.4 2,061.9 1,860.2 2,420.7 2,277.7 2,091.3 1,939.7 1,999.8 1,815.6 1,559.8 1,203 685.5 950.4 695 753.2 797.6 627.6 590.1 582.5 529.2 423.3 364.5 315.5 293.5 235.6 235.1 254.3 166.5 169.3 170 113.1 122.3 146.2 114.6
Capital Expenditure (1,048.3) (994.5) (774.8) (712.8) (643) (489) (731.3) (847.1) (868.6) (756.8) (815.2) (793.9) (662.3) (607.5) (366) (297.7) (297.3) (394.5) (361.5) (320.9) (268.8) (275.9) (212.0) (212.8) (157.9) (150.0) (191.6) (187.8) (121.7) (111.5) (109.9) (88.5) (67) (57.2) (52) (64.2) (62)
Free Cash Flow 1,904.3 1,819.4 1,637 1,075.6 1,418.9 1,371.2 1,689.4 1,430.6 1,222.7 1,182.9 1,184.6 1,021.7 897.5 595.5 319.5 652.7 397.7 358.7 436.1 306.6 321.4 306.6 317.2 210.6 206.5 165.5 101.9 47.8 113.4 142.8 56.6 80.8 103 55.9 70.3 82 52.6