LAZ - Lazard Ltd
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$48.50
DETAILS
HIGH:
$52.00
LOW:
$45.00
MEDIAN:
$48.50
CONSENSUS:
$48.50
UPSIDE:
0.92%
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||
| Revenue | 3,186.5 | 3,086.3 | 2,551.1 | 2,825.6 | 3,268.3 | 2,641.1 | 2,651.2 | 2,871.7 | 2,690.7 | 2,378.4 | 2,399.5 | 2,357.7 | 2,060.0 | 1,988.0 | 1,905.0 | 1,982.1 | 1,530.5 | 1,557.2 | 1,917.7 | 1,493.6 | 1,301.4 | 1,094.8 | 0 | 0 | 0 |
| Cost of Revenue | 2,173.5 | 2,003.2 | 1,946.0 | 1,656.5 | 1,895.9 | 1,550.7 | 1,563.4 | 1,514.7 | 1,512.9 | 1,340.5 | 1,319.7 | 1,313.6 | 1,278.5 | 1,351.1 | 1,168.9 | 1,194.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 1,013.0 | 1,083.1 | 605.1 | 1,169.2 | 1,372.4 | 1,090.4 | 1,087.8 | 1,357.0 | 1,177.8 | 1,037.9 | 1,079.7 | 1,044.1 | 781.5 | 636.9 | 736.1 | 787.9 | 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 |
| SG&A Expenses | 118.5 | 426.7 | 430.7 | 384.9 | 379.0 | 339.5 | 424.1 | 424.1 | 333.3 | 301.4 | 302.3 | 311.6 | 309.1 | 304.1 | 290.2 | 256.5 | 1,513.4 | 1,360.0 | 1,321.2 | 891.4 | 698.7 | 466.1 | 388.3 | 391.0 | 410.0 |
| Other Expenses | 479.3 | 270.0 | 254.4 | 267.5 | 269.6 | 248.8 | 271.0 | 252.1 | 19.1 | 219.0 | 794.1 | 213.0 | 255.6 | 208.9 | 210.4 | 287.8 | 17.1 | 197.2 | 596.5 | 602.1 | 602.8 | 628.8 | (137.9) | (93.6) | (104.2) |
| Operating Expenses | 597.8 | 696.6 | 685.1 | 652.3 | 648.6 | 588.3 | 695.1 | 676.2 | 352.4 | 520.4 | 1,096.4 | 524.6 | 564.7 | 513.0 | 500.6 | 544.3 | 1,530.5 | 1,557.2 | 1,917.7 | 1,493.6 | 1,301.4 | 1,094.8 | 250.4 | 297.4 | 305.8 |
| Operating Income | |||||||||||||||||||||||||
| Operating Income | 415.3 | 386.5 | (80.0) | 516.8 | 723.8 | 502.1 | 392.7 | 680.8 | 825.4 | 517.5 | (16.6) | 519.5 | 216.8 | 123.9 | 235.5 | 243.7 | (182.2) | 25.1 | 418.3 | 327.2 | 342.4 | 288.2 | 250.4 | 297.4 | 305.8 |
| Interest Expense | 87.6 | 88.1 | 77.7 | 81.5 | 80.8 | 80.6 | 80.2 | 58.5 | 53.5 | 50.3 | 51.2 | 62.6 | 79.4 | 81.6 | 90.1 | 97.7 | 107.9 | 139.9 | 137.1 | 104.3 | 78.4 | 39.6 | 0 | 0 | 0 |
| Interest Income | 38.5 | 53.6 | 42.0 | 29.5 | 5.6 | 5.7 | 15.8 | 13.1 | 7.1 | 5.2 | 5.3 | 5.4 | 4.7 | 6.0 | 14.6 | 21.0 | 29.2 | 81.9 | 89.9 | 45.1 | 34.6 | 27.7 | 0 | 0 | 0 |
| Profitability | |||||||||||||||||||||||||
| EBITDA | 449.4 | 511.3 | 40.9 | 640.8 | 843.0 | 619.7 | 527.9 | 757.5 | 920.0 | 636.3 | 73.1 | 622.9 | 341.1 | 244.7 | 362.1 | 371.9 | (46.8) | 190.5 | 593.7 | 347.5 | 315.7 | 336.8 | 250.4 | 297.4 | 305.8 |
| EBIT | 415.2 | 474.5 | (2.3) | 598.4 | 804.6 | 582.8 | 490.1 | 720.3 | 879.0 | 567.8 | 34.5 | 582.0 | 296.2 | 205.4 | 325.6 | 341.4 | (74.3) | 165.0 | 555.4 | 333.2 | 298.4 | 319.8 | 0 | 0 | 0 |
| Income Before Tax | 327.6 | 386.5 | (80.0) | 516.8 | 723.8 | 502.1 | 392.7 | 680.8 | 825.4 | 517.5 | (16.6) | 519.5 | 216.8 | 123.9 | 235.5 | 243.7 | (182.2) | (0.2) | 235.7 | 161.8 | 220.0 | 357.8 | 438.7 | 357.9 | 304.9 |
| Income Tax Expense | 76.6 | 99.8 | (22.6) | 124.4 | 181.3 | 99.4 | 95.0 | 148.3 | 565.6 | 123.8 | (1,009.6) | 85.4 | 51.7 | 31.1 | 44.9 | 49.2 | 6.0 | 25.4 | 80.6 | 68.8 | 59.0 | 28.4 | 188.4 | 60.4 | (0.9) |
| Net Income | 236.8 | 279.9 | (75.5) | 357.5 | 528.1 | 402.5 | 286.5 | 527.1 | 253.6 | 387.7 | 986.4 | 427.3 | 160.2 | 84.3 | 174.9 | 175.0 | (130.2) | 3.1 | 155.0 | 93.0 | 143.5 | 247.0 | 250.4 | 297.4 | 305.8 |
| Per Share Data | |||||||||||||||||||||||||
| EPS (Basic) | 2.43 | 2.93 | -0.90 | 3.68 | 4.90 | 3.69 | 2.57 | 4.43 | 2.09 | 3.11 | 7.87 | 3.49 | 1.33 | 0.72 | 1.48 | 1.68 | -1.66 | 0.05 | 3.04 | 2.42 | 3.83 | 6.59 | 6.68 | 7.93 | 8.15 |
| EPS (Diluted) | 2.17 | 2.68 | -0.90 | 3.51 | 4.63 | 3.54 | 2.44 | 4.06 | 1.91 | 2.92 | 7.40 | 3.20 | 1.21 | 0.65 | 1.36 | 1.36 | -1.66 | 0.02 | 2.79 | 2.31 | 3.82 | 6.59 | 6.68 | 7.93 | 8.15 |
| Shares Outstanding | 97.5 | 93.1 | 89.0 | 95.7 | 106.0 | 106.9 | 116.1 | 119.0 | 121.6 | 124.8 | 125.4 | 122.4 | 120.9 | 117.0 | 118.0 | 104.4 | 78.3 | 60.9 | 51.2 | 38.4 | 37.5 | 37.5 | 37.5 | 37.5 | 37.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||||||
| Cash & Cash Equivalents | 1,503.4 | 1,308.2 | 971.3 | 1,234.8 | 1,465.0 | 1,389.9 | 1,231.6 | 1,246.5 | 1,483.8 | 1,158.8 | 917.3 | 909.7 | 273.7 | 0 | 0 | 0 |
| Short-Term Investments | 167.1 | 268.7 | 219.6 | 779.2 | 1,347.5 | 1,134.5 | 1,180.7 | 1,007.0 | 935.4 | 419.7 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 897.8 | 800.3 | 832.0 | 652.8 | 855.1 | 792.3 | 722.2 | 721.0 | 610.4 | 670.0 | 525.7 | 712.5 | 891.5 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | (217.8) | 0 | (183.9) | (117.7) | (142.6) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | (201.2) | 32.5 | 34.1 | 625.4 | 617.4 | (4.7) | (15.8) | 2.9 | (0.6) | (0.5) | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 2,367.2 | 2,616.9 | 2,290.4 | 3,292.2 | 4,523.3 | 3,312.0 | 3,118.7 | 2,977.4 | 3,182.2 | 2,362.9 | 1,586.8 | 1,622.2 | 1,165.2 | 0 | 0 | 0 |
| Non-Current Assets | ||||||||||||||||
| Property, Plant & Equipment | 580.6 | 595.3 | 639.7 | 681.7 | 716.1 | 513.9 | 551.5 | 212.9 | 205.3 | 209.0 | 166.9 | 171.4 | 199.5 | 0 | 0 | 0 |
| Goodwill | 0 | 393.6 | 394.9 | 377.2 | 379.4 | 383.9 | 371.8 | 371.6 | 385.3 | 373.1 | 525.7 | 712.5 | 891.5 | 0 | 0 | 0 |
| Intangible Assets | 395.3 | 0 | 0.0 | 0.1 | 0.1 | 0.2 | 1.8 | 3.8 | 6.1 | 8.9 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 625.8 | 555.7 | 640.3 | 642.0 | 957.6 | 658.5 | 532.0 | 575.1 | 427.2 | 459.4 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | (793.9) | 152.9 | 173.1 | 451.7 | 135.4 | 564.9 | 477.0 | 258.6 | 228.1 | 184.5 | (484.7) | 0 | (216.7) | 0 | 0 | 0 |
| Total Non-Current Assets | 1,266.9 | 2,177.1 | 2,345.4 | 2,560.4 | 2,623.9 | 2,659.9 | 2,545.7 | 2,019.8 | 1,900.3 | 2,310.7 | 484.7 | 346.6 | 216.7 | 0 | 0 | 0 |
| Total Assets | 4,940.7 | 4,794.0 | 4,635.8 | 5,852.6 | 7,147.2 | 5,971.9 | 5,664.4 | 4,997.2 | 4,926.7 | 4,556.5 | 3,143.9 | 2,862.0 | 3,499.2 | 3,257.2 | 2,460.7 | 3,569.4 |
| Current Liabilities | ||||||||||||||||
| Account Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short-Term Debt | 80.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 136.5 | 140.4 | 137.3 | 130.7 | 90.7 | 98.0 | 81.0 | 45.4 | 35.7 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (854.6) | (782.7) | (601.6) | 0 | 0 | 0 |
| Total Current Liabilities | 80.7 | 896.8 | 1,032.4 | 1,564.3 | 2,154.1 | 1,833.7 | 1,909.1 | 1,802.2 | 1,627.1 | 1,245.6 | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-Current Liabilities | ||||||||||||||||
| Long-Term Debt | 2,092.6 | 1,687.1 | 1,690.2 | 1,687.7 | 1,685.2 | 1,682.7 | 1,679.6 | 1,434.3 | 1,190.4 | 1,188.6 | 1,236.8 | 1,237.8 | 370.8 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.4 | 1.1 | 3.9 | 3.9 | 1.8 | 1.0 | 3.5 | 5.6 | 9.4 | 9.2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1,233.5 | 938.8 | 854.3 | 824.1 | 1,100.6 | 847.9 | 623.5 | 704.1 | 797.5 | 776.4 | (1,261.5) | (1,264.6) | (422.3) | 0 | 0 | 0 |
| Total Non-Current Liabilities | 3,870.9 | 3,132.4 | 3,033.5 | 3,029.4 | 3,340.1 | 3,138.7 | 3,048.9 | 2,224.9 | 2,042.7 | 2,017.1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3,951.6 | 4,029.2 | 4,065.9 | 4,593.7 | 5,494.2 | 4,972.4 | 4,982.8 | 4,027.1 | 3,666.5 | 3,262.7 | 2,620.8 | 2,550.3 | 2,939.7 | 2,721.5 | 1,811.8 | 0 |
| Stockholders' Equity | ||||||||||||||||
| Common Stock | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.1 | 1.3 | 1.3 | 1.3 | 0.9 | 0.8 | 0.4 | 0 | 0 | 0 |
| Retained Earnings | 1,488.1 | 1,472.1 | 1,402.6 | 1,676.7 | 1,560.6 | 1,295.4 | 1,193.6 | 1,195.6 | 1,080.4 | 1,134.2 | 53.6 | 221.4 | 0 | 0 | 0 | 0 |
| Accumulated Other Comprehensive Income | (271.5) | (326.7) | (289.9) | (295.9) | (223.8) | (238.4) | (293.6) | (273.8) | (232.6) | (314.2) | (57.0) | (79.4) | 384.8 | 0 | 0 | 0 |
| Total Stockholders' Equity | 873.7 | 636.2 | 423.8 | 556.5 | 975.2 | 911.8 | 610.0 | 916.9 | 1,201.1 | 1,236.0 | 355.4 | 250.6 | 384.8 | 535.7 | 648.9 | 704.7 |
| Total Liabilities & Equity | 4,940.7 | 4,794.0 | 4,635.8 | 5,852.6 | 7,147.2 | 5,971.9 | 5,664.4 | 4,997.2 | 4,926.7 | 4,556.5 | 3,143.9 | 2,862.0 | 3,499.2 | 3,257.2 | 2,460.7 | 3,569.4 |
| Debt Metrics | ||||||||||||||||
| Total Debt | 2,577.7 | 2,192.5 | 2,175.4 | 2,201.4 | 2,237.7 | 2,289.7 | 2,323.9 | 1,434.3 | 1,190.4 | 1,188.6 | 1,236.8 | 1,087.8 | 422.3 | 0 | 0 | 0 |
| Net Debt | 1,074.3 | 884.3 | 1,204.1 | 966.6 | 772.7 | 899.8 | 1,092.3 | 187.7 | (293.5) | 37.0 | 200.4 | 354.9 | 148.7 | 0 | 0 | 0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2005 | 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | 230.9 | 273.0 | (75.5) | 392.5 | 542.5 | 402.7 | 286.5 | 527.1 | 253.6 | 387.7 | 143.5 | 247.0 |
| Depreciation & Amortization | 34.2 | 36.3 | 43.2 | 103.0 | 112.4 | 36.9 | 55.0 | 34.1 | 41.0 | 68.5 | 17.3 | 16.9 |
| Stock-Based Compensation | 0 | 448.5 | 0 | 406.2 | 394.1 | 346.9 | 365.8 | 371.4 | 359.4 | 341.8 | 176.8 | 0 |
| Change in Working Capital | (275.0) | 16.3 | (240.9) | (109.3) | (299.5) | (322) | (131.5) | (268.5) | 70.3 | (218.4) | 618.1 | 74.4 |
| Other Non-Cash Items | 547.1 | (34.1) | 562.8 | 0.0 | 23.6 | 64.3 | 77.3 | (4.0) | 6.3 | (10.7) | (54.5) | 87.9 |
| Operating Cash Flow | 537.2 | 742.8 | 164.7 | 834.0 | 866.1 | 575.9 | 678.0 | 699.0 | 1,015.4 | 601.3 | 893.6 | 426.3 |
| Investing Activities | ||||||||||||
| Capital Expenditure | (31.9) | (45.5) | (28.3) | (49.5) | (39.7) | (64.3) | (42.8) | (49.6) | (27.7) | (38.7) | (7.8) | (19.0) |
| Acquisitions | 0 | 0 | (10.5) | 0.6 | 0.6 | 1.3 | 0.5 | 3.4 | 0.8 | (12.7) | 0 | 0 |
| Purchases of Investments | 0 | (115.8) | 0 | (1.1) | (1.0) | (1.8) | (2.3) | 0 | 0 | 0 | (22.7) | 0 |
| Sales/Maturities of Investments | 3.7 | 100 | 0 | 0.5 | 0.3 | 0.4 | 1.8 | 1.7 | 0 | 0 | 0 | 0 |
| Other Investing Activities | (50.0) | 149.9 | 0.5 | (6.9) | 0.6 | 1.3 | 0.5 | (1.7) | 0 | 13.8 | 22.7 | 0 |
| Investing Cash Flow | (78.3) | 134.1 | (38.3) | (56.4) | (39.1) | (62.9) | (42.2) | (46.2) | (26.9) | (37.7) | 3.9 | (10.3) |
| Financing Activities | ||||||||||||
| Net Debt Issuance | 1.6 | (3.2) | 0 | 0 | 0 | 0 | 236.3 | 235.4 | (7.3) | 193.7 | 482.3 | (1.4) |
| Stock Repurchased | (91.0) | (59.5) | (102.1) | (691.7) | (406.1) | (95.2) | (494.7) | (552.9) | (306.7) | (300.2) | 0 | 0 |
| Dividends Paid | (186.6) | (179.0) | (173.1) | (181.9) | (195.9) | (196.6) | (254.9) | (359.6) | (341.4) | (336.1) | (593.9) | 0 |
| Other Financing Activities | (191.4) | (198.0) | (1,296.1) | (508.4) | 222.9 | (255.5) | 69.3 | (49.0) | (84.9) | (44.3) | (2,467.8) | (468.5) |
| Financing Cash Flow | (467.3) | (439.7) | (1,571.2) | (1,382.0) | 195.8 | (547.4) | (444.1) | (726.1) | (740.4) | (487.0) | (697.7) | (469.9) |
| Cash Position | ||||||||||||
| Net Change in Cash | 162.8 | 384.4 | (1,414.4) | (790.6) | 861.2 | 113.3 | 163.7 | (162.9) | 325.1 | 26.7 | 186.6 | (42.1) |
| Cash at Beginning | 1,340.7 | 1,225.0 | 2,639.4 | 3,430.0 | 2,568.8 | 2,455.6 | 2,291.9 | 2,454.8 | 1,158.8 | 1,132.1 | 305.8 | 315.8 |
| Cash at End | 1,503.4 | 1,609.4 | 1,225.0 | 2,639.4 | 3,430.0 | 2,568.8 | 2,455.6 | 2,291.9 | 1,483.8 | 1,158.8 | 492.3 | 273.7 |
| Free Cash Flow | 505.2 | 697.3 | 136.4 | 784.5 | 826.4 | 511.6 | 635.2 | 649.4 | 987.8 | 562.5 | 885.8 | 407.3 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||||||||
| Revenue | 3,186.5 | 3,086.3 | 2,551.1 | 2,825.6 | 3,268.3 | 2,641.1 | 2,651.2 | 2,871.7 | 2,690.7 | 2,378.4 | 2,399.5 | 2,357.7 | 2,060.0 | 1,988.0 | 1,905.0 | 1,982.1 | 1,530.5 | 1,557.2 | 1,917.7 | 1,493.6 | 1,301.4 | 1,094.8 | 0 | 0 | 0 |
| Gross Profit | 1,013.0 | 1,083.1 | 605.1 | 1,169.2 | 1,372.4 | 1,090.4 | 1,087.8 | 1,357.0 | 1,177.8 | 1,037.9 | 1,079.7 | 1,044.1 | 781.5 | 636.9 | 736.1 | 787.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 415.3 | 386.5 | (80.0) | 516.8 | 723.8 | 502.1 | 392.7 | 680.8 | 825.4 | 517.5 | (16.6) | 519.5 | 216.8 | 123.9 | 235.5 | 243.7 | (182.2) | 25.1 | 418.3 | 327.2 | 342.4 | 288.2 | 250.4 | 297.4 | 305.8 |
| Net Income | 236.8 | 279.9 | (75.5) | 357.5 | 528.1 | 402.5 | 286.5 | 527.1 | 253.6 | 387.7 | 986.4 | 427.3 | 160.2 | 84.3 | 174.9 | 175.0 | (130.2) | 3.1 | 155.0 | 93.0 | 143.5 | 247.0 | 250.4 | 297.4 | 305.8 |
| EPS (Diluted) | 2.17 | 2.68 | -0.90 | 3.51 | 4.63 | 3.54 | 2.44 | 4.06 | 1.91 | 2.92 | 7.40 | 3.20 | 1.21 | 0.65 | 1.36 | 1.36 | -1.66 | 0.02 | 2.79 | 2.31 | 3.82 | 6.59 | 6.68 | 7.93 | 8.15 |
| Balance Sheet | |||||||||||||||||||||||||
| Cash & Equivalents | 1,503.4 | 1,308.2 | 971.3 | 1,234.8 | 1,465.0 | 1,389.9 | 1,231.6 | 1,246.5 | 1,483.8 | 1,158.8 | 917.3 | 909.7 | 273.7 | 0 | 0 | 0 | |||||||||
| Total Assets | 4,940.7 | 4,794.0 | 4,635.8 | 5,852.6 | 7,147.2 | 5,971.9 | 5,664.4 | 4,997.2 | 4,926.7 | 4,556.5 | 3,143.9 | 2,862.0 | 3,499.2 | 3,257.2 | 2,460.7 | 3,569.4 | |||||||||
| Total Debt | 2,577.7 | 2,192.5 | 2,175.4 | 2,201.4 | 2,237.7 | 2,289.7 | 2,323.9 | 1,434.3 | 1,190.4 | 1,188.6 | 1,236.8 | 1,087.8 | 422.3 | 0 | 0 | 0 | |||||||||
| Stockholders' Equity | 873.7 | 636.2 | 423.8 | 556.5 | 975.2 | 911.8 | 610.0 | 916.9 | 1,201.1 | 1,236.0 | 355.4 | 250.6 | 384.8 | 535.7 | 648.9 | 704.7 | |||||||||
| Cash Flow | |||||||||||||||||||||||||
| Operating Cash Flow | 537.2 | 742.8 | 164.7 | 834.0 | 866.1 | 575.9 | 678.0 | 699.0 | 1,015.4 | 601.3 | 893.6 | 426.3 | |||||||||||||
| Capital Expenditure | (31.9) | (45.5) | (28.3) | (49.5) | (39.7) | (64.3) | (42.8) | (49.6) | (27.7) | (38.7) | (7.8) | (19.0) | |||||||||||||
| Free Cash Flow | 505.2 | 697.3 | 136.4 | 784.5 | 826.4 | 511.6 | 635.2 | 649.4 | 987.8 | 562.5 | 885.8 | 407.3 | |||||||||||||