Las Vegas Sands Corp. logo LVS - Las Vegas Sands Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 30
HOLD 19
SELL 0
STRONG
SELL
0
| PRICE TARGET: $69.70 DETAILS
HIGH: $80.00
LOW: $63.00
MEDIAN: $68.50
CONSENSUS: $69.70
UPSIDE: 41.01%
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
Revenue
Revenue 3,585 3,649 3,331 3,175 2,862 2,896 2,682 2,761 2,959 2,915 2,795 2,542 2,120 1,117 1,005 1,045 943 1,008 857 1,173 1,196 1,146 446 62 1,417 3,509 3,250 3,334 3,646 3,475 3,372 3,303 3,579 3,436 3,161 3,109 3,067 3,075.1 2,969 2,649 2,717 2,861.3 2,893.7 2,921.4 3,011.6 3,416.0 3,533.1 3,624.3 4,010.4 3,655.7 3,568.5 3,242.9 3,302.7 3,077.0 2,709.5 2,581.9 2,762.7 2,544.4 2,409.4 2,345.1 2,111.9 2,015.0 1,908.8 1,594.5 1,334.9 1,284.2 1,141.1 1,058.7 1,079.1 1,093.4 1,105.4 1,112.1 1,079.0 1,048.5 661.0 612.9 628.2 636.3 553.2 517.0 530.4 500.7 437.6 398.8 403.8 347.6 343.6 266.7 239.2
Cost of Revenue 1,836 1,881 1,672 1,538 1,445 1,484 1,413 1,419 1,461 1,432 1,386 1,293 1,094 665 577 602 616 603 584 711 728 722 391 288 828 1,717 1,602 1,689 1,824 1,792 1,722 1,706 1,754 1,720 1,574 1,529 1,551 1,574.5 1,448 1,354 1,460 1,837.8 1,499.3 1,562.3 1,583.3 2,870.9 1,883.9 1,942.6 2,139.9 2,496.3 1,912.1 1,772.9 1,787.8 1,819.4 1,840.0 1,743.6 1,705.4 1,372.6 1,492.5 1,450.4 1,374.5 1,069.5 1,271.9 1,129.8 969.7 2,876.9 671.1 616.7 684.5 711.0 732.2 679.7 645.8 635.7 417.0 350.9 342.3 327.5 291.3 277.8 267.5 258.4 228.3 198.4 188.4 0 0 0 0
Gross Profit 1,749 1,768 1,659 1,637 1,417 1,412 1,269 1,342 1,498 1,483 1,409 1,249 1,026 452 428 443 327 405 273 462 468 424 55 (226) 589 1,792 1,648 1,645 1,822 1,683 1,650 1,597 1,825 1,716 1,587 1,580 1,516 1,500.7 1,521 1,295 1,257 1,023.4 1,394.3 1,359.2 1,428.4 545.1 1,649.2 1,681.8 1,870.5 1,159.3 1,656.5 1,470 1,514.9 1,257.6 869.5 838.3 1,057.3 1,171.8 916.9 894.7 737.4 945.6 636.9 464.7 365.2 (1,592.7) 470.0 442.0 394.5 382.3 373.2 432.4 433.3 412.8 244.0 262.0 285.9 308.8 261.9 239.2 262.8 242.3 209.4 200.4 215.4 347.6 343.6 266.7 239.2
Operating Expenses
R&D Expenses 41 59 72 69 69 59 55 61 53 65 44 54 42 35 26 22 60 50 13 37 9 0 3 9 6 11 4 4 5 3 4 2 3 5 3 2 3 2.2 3 2 2 3.3 3.1 2.3 1.5 5.4 3.0 4.2 1.7 1.0 3.5 6.0 5.4 7.8 4.2 6.8 1.2 5.0 3.3 2.4 0.6 0.5 0.4 0.7 0.2 0.2 0.1 0.0 0.3 1.3 1.2 4.5 5.9 2.5 3.6 1.3 2.3 (23.0) 6.0 7.9 9.2 0 0 0 5.2 (7.3) 4.6 2.2 0.5
SG&A Expenses 302 315 308 292 273 303 293 268 286 287 290 279 251 242 238 238 218 164 223 219 225 249 196 190 229 393 364 376 369 404 366 368 345 365 359 354 339 353.3 330 302 412 422.4 406.9 418.7 448.0 356.9 426.0 452.7 465.1 469.3 442.6 433.5 433.7 443.1 94.5 102.1 100.4 246.3 80.0 70.6 60.2 249.1 48.0 88.9 69.6 230.3 180.3 237.8 197.6 235.0 211.7 233.7 212.3 194.9 206.6 138.7 121.2 130.1 95.4 81.1 78.7 74.4 72.6 65.4 68.9 231.6 45.0 39.8 36.4
Other Expenses 490 519 485 476 455 447 417 422 442 421 387 379 355 341 341 330 351 329 353 345 330 386 379 332 348 454 381 371 477 402 358 430 319 319 370 407 410 476.0 468 473 (47) (1.0) 16.3 (0.2) 15.5 4.3 0.1 2.2 (4.7) (0.7) 3.2 3.9 (2.1) 5.0 309.4 288.9 256.9 257.2 235.0 229.7 225.8 207.2 227.0 227.1 170.0 (1,885.4) 898.4 841.0 160.4 180.4 132.2 121.0 118.5 81.9 54.6 35.8 31.4 12.3 27.1 24.9 26.1 26.4 28.2 20.9 21.1 (515.2) 342.4 186.4 120.0
Operating Expenses 833 893 865 837 797 809 765 751 781 773 721 712 648 618 605 590 629 543 589 601 564 635 578 531 583 858 749 751 851 809 728 800 667 689 732 763 752 831.6 801 777 718 3,998.2 639.0 670.0 701.8 5,260.0 679.7 718.1 749.3 5,280.8 738.4 685.5 690.3 4,219.4 335.2 339.4 306.3 508.5 284.3 286.6 251.5 456.9 237.5 297.9 223.4 (1,654.9) 1,078.8 1,078.9 358.2 416.7 345 359.1 336.7 279.2 264.8 175.8 154.9 142.4 128.5 113.8 113.9 100.8 100.9 86.3 90.0 (283.6) 392.0 228.4 156.9
Operating Income
Operating Income 916 875 794 800 620 603 504 591 717 710 688 537 378 (166) (177) (147) (302) (138) (316) (139) (96) (211) (523) (757) 6 934 899 894 971 874 922 797 1,158 1,027 855 817 764 669.1 720 518 585 717.9 739.8 691.9 726.4 1,024.5 972.2 965.1 1,144.3 887.8 965.0 785.4 828.6 673.0 534.1 397.7 707.6 663.3 632.6 608.1 485.9 488.7 383.3 166.8 141.8 43.9 62.4 (171.3) 36.3 (34.4) 28.2 73.3 96.6 133.6 (20.8) 86.2 131.0 166.3 133.5 125.4 148.9 141.5 108.5 114.1 125.3 89.5 (48.4) 495.1 82.3
Interest Expense 188 191 187 194 174 180 179 186 182 190 200 210 218 201 183 162 156 152 157 158 154 150 134 114 128 134 137 143 141 138 126 93 89 87 83 79 78 76 65.2 64.0 68.6 66.2 67.0 65.8 66.3 66.7 66.8 69.6 71.1 67.1 66.9 68.4 68.8 67.1 62.3 64.5 64.7 68.0 70.8 70.6 73.6 74.9 76.7 77.0 78.2 97.4 88.5 64.9 71.1 0 90.5 88.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 35 38 39 42 42 57 67 80 71 63 79 76 70 60 38 14 4 1 1 1 1 1 3 4 13 17 20 17 20 23 22 9 5 5 4 4 3 3.7 2.3 2.0 2.0 2.5 2.2 4.1 6.4 8.5 5.6 5.7 5.8 5.5 3.8 3.2 3.8 6.5 4.2 6.9 5.6 6.0 2.4 4.0 2.0 2.6 2.7 2.1 1.6 1.3 1.6 2.7 5.5 0 3.2 3.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 1,314 1,125 1,158 1,194 1,022 1,004 921 1,012 1,118 1,130 1,099 929 701 183 137 128 (42) 131 (188) 144 157 89 (263) (501) 325 1,287 1,186 1,790 1,280 1,178 1,200 1,133 1,407 1,285 1,114 1,132 1,057 1,063.1 1,027 777 855 976.6 997.2 949.9 990.2 1,290.4 1,233.3 1,239.1 1,415.4 1,152.8 1,223.9 1,048.9 1,091.1 933.5 765.0 620.5 911.6 867.2 828.4 818.3 686.7 673.7 588.8 339.5 296.5 245.0 210.9 (24.2) 181.8 126.4 170.9 191.8 225.3 228.9 46.1 132.7 170.3 205.2 162.9 151.2 174.8 168.9 137.1 136.4 146.9 115.5 (29.1) 55.1 97.8
EBIT 936 742 769 803 645 641 582 682 782 782 771 627 413 (86) (137) (142) (320) (149) (464) (128) (112) (218) (525) (758) 58 982 888 1,487 970 880 908 850 1,134 1,018 840 796 726 735.3 740 513 541 717.9 757.5 693.2 733.0 1,035.4 975.1 969.4 1,127.0 876.7 921.9 787.8 828.4 683.6 540.6 390.0 707.0 652.1 628.3 614.1 483.3 489.2 370.7 163.6 139.2 18.8 62.2 (167.9) 36.1 (34.4) 38.6 72.7 96.6 133.6 (20.8) 86.2 131.0 166.3 133.5 125.4 148.9 141.5 108.5 114.1 125.3 89.5 (48.4) 38.2 82.3
Income Before Tax 748 551 582 609 471 461 403 496 600 592 571 417 195 (287) (320) (304) (476) (301) (621) (286) (266) (368) (659) (872) (70) 848 751 1,344 829 742 782 757 1,045 931 757 717 648 659.1 675 449 472 637.3 690.5 627.4 666.7 968.7 908.4 899.8 1,055.9 809.6 854.9 719.4 759.6 616.5 478.3 325.5 642.3 584.1 557.5 543.5 409.7 414.3 294.0 86.6 61.0 (78.5) (26.3) (232.8) (35.0) (151.8) (51.9) (15.8) (8.6) 45.5 (49.5) 40.2 102.0 141.2 108.5 116.7 137.8 130.6 86.7 97.8 (27.2) 55.5 (85.9) 461.9 49.9
Income Tax Expense 107 103 91 90 63 69 50 72 17 123 122 49 50 (18) 60 110 2 14 (27) (6) 14 8 5 (31) 22 65 82 236 85 782 83 81 (571) (429) 73 78 69 52.0 69 55 63 62.1 72.3 45.9 55.7 90.7 47.9 46.9 59.2 39.9 45.6 47.7 55.6 45.2 33.4 39.1 63.2 59.7 52.4 54.4 45.2 27.9 25.2 8.1 13.2 (4.5) 54.3 (54.5) 0.8 (40.2) (19.4) (2.8) 2.7 5.7 (1.0) 5.8 11.1 27.5 11.2 7.4 16.1 20.6 6.6 11.4 (34.3) (13.7) 0 0 0
Net Income 567 395 419 461 352 324 275 353 494 382 380 312 147 (169) (239) (290) 2,530 (123) (368) (192) (278) (299) (565) (820) (1) 629 533 954 582 (170) 571 556 1,456 1,211 569 546 481 508.5 513 328 320 465.8 519.4 469.2 511.9 721.3 671.7 671.4 776.2 577.5 626.7 529.8 572.0 434.8 349.8 240.6 498.9 435.3 424.9 410.6 289.3 325.5 214.5 41.8 17.6 (67.4) (76.5) (175.9) (35.8) (111.3) (32.2) (8.8) (11.2) 39.9 (48.5) 34.4 90.9 113.6 97.3 109.3 121.8 110.0 80.1 86.4 7.1 69.3 (85.9) 461.9 49.9
Per Share Data
EPS (Basic) 0.85 0.59 0.61 0.66 0.49 0.45 0.38 0.48 0.66 0.50 0.50 0.41 0.19 -0.22 -0.31 -0.38 -0.49 -0.16 -0.48 -0.30 -0.36 -0.39 -0.65 -1.07 -0.00 0.82 0.69 1.24 0.75 -0.22 0.73 0.70 1.85 1.53 0.72 0.69 0.61 0.64 0.65 0.41 0.40 0.59 0.65 0.59 0.64 0.90 0.84 0.83 0.95 0.71 0.76 0.64 0.69 0.53 0.43 0.29 0.66 0.60 0.48 0.50 0.32 0.49 0.25 -0.01 -0.04 -0.10 -0.12 -0.27 -0.06 -0.31 -0.09 -0.02 -0.03 0.11 -0.14 0.10 0.26 0.32 0.27 0.31 0.34 0.31 0.23 0.24 0.02 0.21 -0.26 1.42 0.15
EPS (Diluted) 0.85 0.58 0.61 0.66 0.49 0.45 0.38 0.48 0.66 0.50 0.50 0.41 0.19 -0.22 -0.31 -0.38 -0.49 -0.16 -0.48 -0.30 -0.36 -0.39 -0.65 -1.07 -0.00 0.82 0.69 1.24 0.75 -0.22 0.73 0.70 1.84 1.53 0.72 0.69 0.61 0.64 0.65 0.41 0.40 0.59 0.65 0.59 0.64 0.90 0.83 0.83 0.95 0.70 0.76 0.64 0.69 0.53 0.42 0.29 0.61 0.60 0.44 0.45 0.28 0.49 0.21 -0.01 -0.04 -0.10 -0.12 -0.27 -0.06 -0.31 -0.09 -0.02 -0.03 0.11 -0.14 0.10 0.26 0.32 0.27 0.31 0.34 0.31 0.23 0.24 0.02 0.21 -0.26 1.42 0.15
Shares Outstanding 669 675 682 695 712 735 730 740 750 759 764 764 764 764 764 755.3 764 764 764 764 764 753.3 764 764 764 767.3 769 772 775 780 786.0 790 790 790.0 791.0 792 794.0 795.1 795.0 795.1 795.0 795.0 797.3 797.7 798.9 801.5 804.8 809.0 817.0 822.3 824.7 827.7 827.5 822.2 821.5 821.1 760.4 729.8 729.8 728.7 723.4 660.8 660.8 660.4 660.3 660.2 660.2 658.9 647.8 355.4 355.4 355.4 355.3 354.9 354.9 354.7 354.6 354.3 354.3 354.3 354.2 354.2 354.2 354.2 354.2 325.7 325.7 324.7 324.7
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
Current Assets
Cash & Cash Equivalents 3,330 3,841 3,478 3,450 3,036 3,650 4,208 4,711 4,956 5,105 5,574 5,768 6,532 6,311 5,836 6,452 6,430 1,854 1,644 2,057 2,074 2,082 2,381 3,016 2,602 4,226 3,817 4,017 4,134 4,648 4,772 4,350 2,628 2,419 2,001 2,307 1,956 2,128 1,790.4 2,225.3 1,695.6 3,518.8 3,751.8 4,955.4 2,585.0 2,758.5 1,679.6
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 0 0 0 0 0 0 0 0 0 0 0 0 173.5 173.9 0 0 0 0
Net Receivables 677 742 548 533 435 417 413 436 420 484 390 336 328 267 210 158 147 202 167 160 205 252 382 567 653 844 757 767 737 726 650 555 587 615 637 623 683 776 868.1 926.0 1,081.5 530.3 436.1 460.8 367.2 346.0 152.3
Inventory 46 46 45 40 41 41 41 37 39 38 35 32 28 28 23 24 23 22 22 22 23 22 34 37 36 37 33 33 35 35 42 44 46 37 45 47 47 46 43.8 42.4 43.2 26.5 24.9 27.1 27.2 27.2 15.9
Other Current Assets 0 203 81 240 209 182 163 148 141 150 173 154 127 0 0 16 16 3,319 3,271 3,230 3,209 3,238 17 16 16 16 15 14 14 13 13 12 12 11 11 10 10 10 9.1 8.6 17.3 167.8 326.1 145.1 212.0 123.6 285.7
Total Current Assets 4,266 4,832 4,152 4,263 3,721 4,290 4,825 5,332 5,556 5,777 6,172 6,290 7,015 6,744 6,207 6,770 6,725 5,510 5,228 5,577 5,630 5,707 2,958 3,772 3,493 5,305 4,808 4,957 5,055 5,566 5,614 5,075 3,394 3,197 2,836 3,100 2,820 3,098 2,838.7 3,309.3 2,951.9 4,456.8 4,756.6 5,623.7 3,217.9 3,363.9 2,202.6
Non-Current Assets
Property, Plant & Equipment 11,441 11,717 11,907 15,000 14,913 13,995 14,168 13,465 13,386 13,688 13,642 13,666 13,464 13,579 13,318 13,588 13,861 14,016 14,101 14,230 14,336 14,536 17,202 17,103 16,875 17,116 16,829 16,879 16,432 16,352 16,393 16,430 16,738 16,753 16,732 16,796 16,969 17,113 17,572.2 17,393.1 17,189.6 15,337.2 14,954.1 14,561.1 13,602.0 12,136.0 7,656.7
Goodwill 0 103 103 103 102 102 0 0 0 103 102 110 0 10 0 0 0 0 0 0 0 0 0 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 545 470 489 538 558 443 560 572 584 495 507 521 545 54 62 67 19 19 15 15 20 25 28 32 36 42 45 51 69 72 76 81 85 89 93 96 100 103 108.8 113.3 68.3 92.0 0 50.1 0 0 0
Long-Term Investments (36) 1,389 1,389 1,389 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 4,405 3,249 3,304 417 1,831 1,714 1,672 1,620 1,598 1,594 1,574 1,547 1,556 1,521 1,717 1,445 1,456 217 223 218 228 221 467 480 484 454 457 406 398 189 135 140 144 155 147 150 153 155 160.9 156.8 164.8 355.1 359.8 315.0 378.6 1,429.8 1,263.0
Total Non-Current Assets 16,550 17,088 17,350 17,587 17,526 16,376 16,529 15,781 15,689 16,001 15,952 15,980 15,700 15,295 15,262 15,289 15,522 14,549 14,664 14,801 14,911 15,100 18,024 17,923 17,674 17,894 17,619 17,637 17,258 16,981 17,725 17,780 18,110 17,490 16,972 17,042 17,222 17,371 17,842.0 17,671.3 17,433.0 15,810.3 15,336.9 14,948.4 14,079.1 13,597.7 8,927.0
Total Assets 21,176 21,920 21,502 21,850 21,247 20,666 21,354 21,113 21,245 21,778 22,124 22,270 22,715 22,039 21,469 22,059 22,247 20,059 19,892 20,378 20,541 20,807 20,982 21,695 21,167 23,199 22,427 22,594 22,313 22,547 23,339 22,855 21,504 20,687 19,808 20,142 20,042 20,469 20,680.7 20,980.5 20,384.9 20,267.2 20,093.5 20,572.1 17,297.0 16,961.6 11,129.6
Current Liabilities
Account Payables 159 190 168 162 151 164 139 149 156 167 150 135 108 89 91 76 69 77 74 69 70 89 70 64 82 149 170 138 152 178 153 154 159 171 141 107 104 128 123.2 106.4 110.2 119.2 86.8 82.7 88.1 68.2 68.1
Short-Term Debt 1,824 1,148 1,920 923 2,994 3,160 2,728 930 2,043 1,900 1,818 71 2,018 2,031 1,514 73 72 74 73 75 72 75 72 71 69 70 66 116 111 111 111 184 144 296 134 126 119 167 163.8 211.8 152.0 569.2 286.8 173.3 141.1 134.1 1,329.8
Deferred Revenue 0 181 0 0 0 608 0 0 0 543 0 0 0 471 0 0 454 470 0 0 0 501 0 0 0 582 0 0 0 676 0 0 0 572 0 0 0 508 0 0 0 0 0 0 0 0 0
Other Current Liabilities 442 1,899 191 0 0 0 0 0 0 0 0 0 0 0 0 0 0 821 827 825 771 755 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 722.3
Total Current Liabilities 4,491 4,222 4,671 3,501 6,255 5,801 5,350 3,369 4,267 4,422 4,102 2,275 3,919 3,902 3,391 2,023 2,139 2,565 2,487 2,542 2,465 2,816 2,255 2,375 2,419 3,224 3,004 3,031 2,917 3,157 2,906 2,992 2,874 2,956 2,661 2,559 2,512 2,806 2,774.0 2,619.8 2,395.7 2,394.6 1,996.2 1,839.3 1,632.4 1,484.9 2,775.7
Non-Current Liabilities
Long-Term Debt 13,900 14,684 13,852 14,897 10,857 10,592 11,284 12,808 11,914 12,129 12,576 14,849 13,971 13,947 13,779 15,306 14,905 14,721 14,462 14,375 14,374 13,929 13,840 13,767 12,253 12,422 11,877 11,909 11,888 11,874 11,869 11,139 9,508 9,344 9,483 10,014 9,671 9,428 9,593.1 10,061.9 9,235.2 9,826.7 10,174.6 10,852.1 10,636.3 10,274.8 5,961.4
Deferred Tax Liabilities 165 291 174 183 185 188 185 173 175 187 150 145 146 152 150 157 164 173 173 179 179 188 184 169 169 183 184 180 184 191 189 193 205 206 229 216 208 200 207.6 205.0 207.5 50.2 0 0 0 0 0
Other Non-Current Liabilities 870 483 938 987 917 925 888 869 864 936 844 842 850 382 368 358 362 352 341 336 346 (8) 518 513 521 513 496 494 485 179 175 165 155 147 136 138 134 126 125.6 119.0 116.2 547.0 521.4 492.8 444.9 870.3 189.4
Total Non-Current Liabilities 14,935 15,764 14,964 16,067 11,959 11,705 12,357 13,850 12,953 13,252 13,570 15,836 14,967 14,481 14,297 15,821 15,431 15,246 14,976 14,890 14,899 14,453 14,887 14,795 13,291 13,468 12,908 12,981 12,956 12,645 12,635 11,901 10,273 10,104 10,256 10,778 10,424 10,167 10,340.1 10,801.0 9,975.2 10,868.6 11,141.9 11,792.2 11,531.0 11,145.0 6,150.8
Total Liabilities 19,426 19,986 19,635 19,568 18,214 17,506 17,707 17,219 17,220 17,674 17,672 18,111 18,886 18,383 17,688 17,844 17,570 17,811 17,463 17,432 17,364 17,269 17,142 17,170 15,710 16,692 15,912 16,012 15,873 15,802 15,541 14,893 13,147 13,060 12,917 13,337 12,936 12,973 13,114.0 13,420.7 12,370.9 13,263.3 13,138.1 13,631.5 13,163.5 12,629.9 8,926.5
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 0.8 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.4
Retained Earnings 4,753 4,387 4,161 3,914 3,628 3,455 3,276 3,148 2,943 2,600 2,370 2,143 1,831 1,684 1,853 2,092 2,382 (148) (25) 343 535 813 1,112 1,677 2,497 3,101 3,059 3,118 2,757 2,770 3,521 3,538 3,572 2,709 2,082 2,089 2,121 2,222 2,285.2 2,344.0 2,588.3 440.2 444.9 473.8 710.7 933.3 1,157.7
Accumulated Other Comprehensive Income 38 71 49 4 (24) (58) 84 (53) (38) 27 (57) (41) 11 (7) (148) (86) (29) (22) (32) (6) (11) 29 (38) (74) (119) (3) (74) (19) (32) (40) (36) (44) 47 14 (13) (46) (61) (119) (3.3) 22.0 (7.6) 26.4 25.9 26.7 14.8 (3.5) (0.5)
Total Stockholders' Equity 1,200 1,590 1,571 1,991 2,699 2,884 3,426 3,754 3,953 4,118 4,553 4,330 4,056 3,881 3,900 4,191 4,529 1,996 2,102 2,491 2,673 2,973 3,199 3,720 4,489 5,187 5,359 5,560 5,525 5,684 6,862 7,158 7,363 6,486 5,896 5,923 5,997 6,177 6,343.9 6,427.5 6,635.0 5,851.8 5,835.8 5,850.7 4,134.0 4,329.9 2,203.0
Total Liabilities & Equity 21,176 21,920 21,502 21,850 21,247 20,666 21,354 21,113 21,245 21,778 22,124 22,270 22,715 22,039 21,469 22,059 22,247 20,059 19,892 20,378 20,541 20,807 20,982 21,695 21,167 23,199 22,427 22,594 22,313 22,547 23,339 22,855 21,504 20,687 19,808 20,142 20,042 20,469 20,680.7 20,980.5 20,384.9 20,267.2 20,093.5 20,572.1 17,297.0 16,961.6 11,129.6
Debt Metrics
Total Debt 15,724 16,138 15,772 15,820 13,851 13,752 14,012 13,738 13,957 14,029 14,394 14,920 15,989 15,978 15,293 15,379 14,977 14,795 14,535 14,450 14,446 14,004 13,912 13,838 12,322 12,492 11,943 12,025 11,999 11,985 11,980 11,323 9,652 9,640 9,617 10,140 9,790 9,595 9,756.9 10,273.6 9,387.2 10,395.9 10,461.4 11,025.5 10,777.4 10,408.9 7,291.2
Net Debt 12,394 12,297 12,294 12,370 10,815 10,102 9,804 9,027 9,001 8,924 8,820 9,152 9,457 9,667 9,457 8,927 8,547 12,941 12,891 12,393 12,372 11,922 11,531 10,822 9,720 8,266 8,126 8,008 7,865 7,337 7,208 6,973 7,024 7,221 7,616 7,833 7,834 7,467 7,966.5 8,048.3 7,691.6 6,877.0 6,709.5 6,070.0 8,192.4 7,650.4 5,611.6
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
Operating Activities
Net Income 641 448 491 519 408 392 353 424 583 469 449 368 145 (269) (380) (414) (478) (315) (368) (192) (280) (299) (565) (820) (1) 783 669 1,108 744 (40) 699 676 1,616 1,212 684 639 579 607.1 606 394 409 80.1 86.4 7.1 463.3 49.9
Depreciation & Amortization 393 383 389 391 377 363 339 330 336 348 328 302 288 269 274 270 278 280 289 285 269 277 274 267 277 305 298 303 310 298 292 283 273 278 274 336 331 327.9 287 264 270 28.6 22.2 21.5 16.9 15.5
Stock-Based Compensation 24 15 14 14 11 13 13 15 14 11 11 11 11 9 10 10 10 7 3 7 4 8 6 6 7 9 8 9 9 7 8 7 8 8 8 8 10 6.4 7 8 13 0 0 0 0 0
Change in Working Capital (245) 134 156 (784) (290) 121 74 50 (226) 137 31 258 (36) 638 (86) (63) (325) 130 (113) 84 (194) (75) 44 23 (487) 79 (147) (911) (282) 212 (174) 62 139 137 68 117 (28) 205.9 71 243 29 26.2 79.6 (52.6) (4.0) (9.7)
Other Non-Cash Items (76) 228 96 57 26 6 (16) (1) 17 2 5 2 43 (27) 13 32 186 127 30 (18) 24 93 (53) (128) (166) 64 52 (567) 38 69 67 72 14 (314) 68 39 68 65.8 61 81 64 (4.0) 4.8 144.8 (303.8) 5.6
Operating Cash Flow 731 1,204 1,115 178 526 915 761 814 714 1,006 839 941 441 (104) (150) (181) (360) 201 (159) 166 (193) 4 (294) (652) (370) 1,242 900 76 820 1,301 896 1,107 1,397 1,321 1,113 1,146 963 1,213.0 1,044 988 799 144.7 204.4 79.1 172.3 61.3
Investing Activities
Capital Expenditure (194) (274) (154) (286) (454) (550) (541) (289) (200) (329) (327) (419) (182) (172) (170) (289) (149) (194) (192) (157) (291) (252) (356) (352) (290) (460) (303) (266) (240) (326) (207) (178) (238) (245) (212) (178) (202) (294.4) (397) (410) (343) (208.6) (221.4) (152.2) (144.2) (91.9)
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 0 0 0 0 0
Purchases of 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 8 8 (57) 0 0 0 0 1 0 0 3 0 0 50 3 28 4,861 (18) (21) (8) (14) 0 (20) (30) (29) 4 0 1,161 0 6 3 6 4 13 1 1 0 0.1 0 10 (7) (203.3) (0.7) (4.5) 719.7 37.4
Investing Cash Flow (186) (266) (211) (286) (454) (550) (541) (288) (200) (329) (324) (419) (182) (122) (167) (261) 4,712 (212) (213) (165) (305) (252) (376) (382) (319) (455) (303) 895 (240) (320) (204) (172) (234) (232) (211) (177) (202) (295) (397) (400) (350) (411.9) (222.1) (156.6) 575.4 (54.5)
Financing Activities
Net Debt Issuance (33) (31) (31) 1,838 87 (95) (19) (195) (17) (266) (516) (1,270) (17) 484 (15) 481 184 236 128 (16) 487 (16) 30 (419) (16) 3,967 (3,467) (25) (26) (25) 660 1,805 (25) (30) (578) 319 85 12 (467) 833 (69) 207.0 (111.2) (292.2) 0 0
Stock Repurchased (753) (501) (498) (800) (418) (450) (450) (400) (452) (506) 0 0 (1) 0 0 (1) 0 0 0 0 0 0 0 0 0 (300) (100) (180) (174) (430) (300) (100) (75) (75) (75) (75) (150) 0 0 0 0 0 0 0 0 0
Dividends Paid (202) (169) (239) (246) (179) (145) (146) (148) (151) (152) (153) 0 0 0 0 0 0 0 0 0 0 0 0 0 (603) (587) (592) (593) (595) (581) (588) (590) (593) (578) (577) (577) (579) (576) (576) (1,200) (572) 0 0 (21.1) (102.9) (5.0)
Other Financing Activities (50) (13) (243) (280) (182) (189) (158) (26) (19) (254) (34) (1) (18) (2) 0 0 (9) (2) (159) (1) 11 1 (2) 1,880 (295) (3,480) 3,378 (300) (294) (41) (49) (306) (284) 5 12 (304) (310) 10 (28) 312 (310) (0.1) (20.5) (104.5) (120.9) 5.9
Financing Cash Flow (1,040) (451) (1,012) 512 (692) (879) (773) (769) (639) (1,178) (703) (1,271) (36) 482 (15) 480 175 234 (31) (17) 498 (15) 28 1,461 (914) (400) (781) (1,098) (1,089) (1,077) (277) 809 (977) (678) (1,218) (637) (954) (554) (1,071) (55) (951) 206.9 (131.7) (417.8) (223.8) 0.9
Cash Position
Net Change in Cash (511) 488 (97) 414 (614) (558) (503) (244) (149) (469) (194) (764) 220 311 (343) 22 4,521 224 (410) (14) (12) (261) (634) 414 (1,624) 410 (199) (117) (513) (124) 423 1,722 210 418 (306) 351 (172) 337.6 (434.9) 529.7 (483.8) (60.3) (149.4) (495.3) 523.9 7.8
Cash at Beginning 3,966 3,478 3,575 3,161 3,775 4,333 4,836 5,080 5,229 5,698 5,892 6,656 6,436 6,125 6,468 6,446 1,925 1,701 2,111 2,125 2,137 2,398 3,032 2,618 4,242 3,832 4,031 4,148 4,661 4,785 4,362 2,640 2,430 2,001 2,307 1,956 2,128 1,790.4 2,225.3 1,695.6 2,179.5 650.2 799.6 1,294.9 160.6 152.8
Cash at End 3,455 3,966 3,478 3,575 3,161 3,775 4,333 4,836 5,080 5,229 5,698 5,892 6,656 6,436 6,125 6,468 6,446 1,925 1,701 2,111 2,125 2,137 2,398 3,032 2,618 4,242 3,832 4,031 4,148 4,661 4,785 4,362 2,640 2,419 2,001 2,307 1,956 2,128 1,790.4 2,225.3 1,695.6 589.9 650.2 799.6 684.5 160.6
Free Cash Flow 537 930 961 (108) 72 365 220 525 514 677 512 522 259 (276) (320) (470) (509) 7 (351) 9 (484) (248) (650) (1,004) (660) 782 597 (190) 580 975 689 929 1,159 1,076 901 968 761 918.5 647 578 456 (63.9) (17.0) (73.0) 28.0 (30.6)
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
Income Statement
Revenue 3,585 3,649 3,331 3,175 2,862 2,896 2,682 2,761 2,959 2,915 2,795 2,542 2,120 1,117 1,005 1,045 943 1,008 857 1,173 1,196 1,146 446 62 1,417 3,509 3,250 3,334 3,646 3,475 3,372 3,303 3,579 3,436 3,161 3,109 3,067 3,075.1 2,969 2,649 2,717 2,861.3 2,893.7 2,921.4 3,011.6 3,416.0 3,533.1 3,624.3 4,010.4 3,655.7 3,568.5 3,242.9 3,302.7 3,077.0 2,709.5 2,581.9 2,762.7 2,544.4 2,409.4 2,345.1 2,111.9 2,015.0 1,908.8 1,594.5 1,334.9 1,284.2 1,141.1 1,058.7 1,079.1 1,093.4 1,105.4 1,112.1 1,079.0 1,048.5 661.0 612.9 628.2 636.3 553.2 517.0 530.4 500.7 437.6 398.8 403.8 347.6 343.6 266.7 239.2
Gross Profit 1,749 1,768 1,659 1,637 1,417 1,412 1,269 1,342 1,498 1,483 1,409 1,249 1,026 452 428 443 327 405 273 462 468 424 55 (226) 589 1,792 1,648 1,645 1,822 1,683 1,650 1,597 1,825 1,716 1,587 1,580 1,516 1,500.7 1,521 1,295 1,257 1,023.4 1,394.3 1,359.2 1,428.4 545.1 1,649.2 1,681.8 1,870.5 1,159.3 1,656.5 1,470 1,514.9 1,257.6 869.5 838.3 1,057.3 1,171.8 916.9 894.7 737.4 945.6 636.9 464.7 365.2 (1,592.7) 470.0 442.0 394.5 382.3 373.2 432.4 433.3 412.8 244.0 262.0 285.9 308.8 261.9 239.2 262.8 242.3 209.4 200.4 215.4 347.6 343.6 266.7 239.2
Operating Income 916 875 794 800 620 603 504 591 717 710 688 537 378 (166) (177) (147) (302) (138) (316) (139) (96) (211) (523) (757) 6 934 899 894 971 874 922 797 1,158 1,027 855 817 764 669.1 720 518 585 717.9 739.8 691.9 726.4 1,024.5 972.2 965.1 1,144.3 887.8 965.0 785.4 828.6 673.0 534.1 397.7 707.6 663.3 632.6 608.1 485.9 488.7 383.3 166.8 141.8 43.9 62.4 (171.3) 36.3 (34.4) 28.2 73.3 96.6 133.6 (20.8) 86.2 131.0 166.3 133.5 125.4 148.9 141.5 108.5 114.1 125.3 89.5 (48.4) 495.1 82.3
Net Income 567 395 419 461 352 324 275 353 494 382 380 312 147 (169) (239) (290) 2,530 (123) (368) (192) (278) (299) (565) (820) (1) 629 533 954 582 (170) 571 556 1,456 1,211 569 546 481 508.5 513 328 320 465.8 519.4 469.2 511.9 721.3 671.7 671.4 776.2 577.5 626.7 529.8 572.0 434.8 349.8 240.6 498.9 435.3 424.9 410.6 289.3 325.5 214.5 41.8 17.6 (67.4) (76.5) (175.9) (35.8) (111.3) (32.2) (8.8) (11.2) 39.9 (48.5) 34.4 90.9 113.6 97.3 109.3 121.8 110.0 80.1 86.4 7.1 69.3 (85.9) 461.9 49.9
EPS (Diluted) 0.85 0.58 0.61 0.66 0.49 0.45 0.38 0.48 0.66 0.50 0.50 0.41 0.19 -0.22 -0.31 -0.38 -0.49 -0.16 -0.48 -0.30 -0.36 -0.39 -0.65 -1.07 -0.00 0.82 0.69 1.24 0.75 -0.22 0.73 0.70 1.84 1.53 0.72 0.69 0.61 0.64 0.65 0.41 0.40 0.59 0.65 0.59 0.64 0.90 0.83 0.83 0.95 0.70 0.76 0.64 0.69 0.53 0.42 0.29 0.61 0.60 0.44 0.45 0.28 0.49 0.21 -0.01 -0.04 -0.10 -0.12 -0.27 -0.06 -0.31 -0.09 -0.02 -0.03 0.11 -0.14 0.10 0.26 0.32 0.27 0.31 0.34 0.31 0.23 0.24 0.02 0.21 -0.26 1.42 0.15
Balance Sheet
Cash & Equivalents 3,330 3,841 3,478 3,450 3,036 3,650 4,208 4,711 4,956 5,105 5,574 5,768 6,532 6,311 5,836 6,452 6,430 1,854 1,644 2,057 2,074 2,082 2,381 3,016 2,602 4,226 3,817 4,017 4,134 4,648 4,772 4,350 2,628 2,419 2,001 2,307 1,956 2,128 1,790.4 2,225.3 1,695.6 3,518.8 3,751.8 4,955.4 2,585.0 2,758.5 1,679.6
Total Assets 21,176 21,920 21,502 21,850 21,247 20,666 21,354 21,113 21,245 21,778 22,124 22,270 22,715 22,039 21,469 22,059 22,247 20,059 19,892 20,378 20,541 20,807 20,982 21,695 21,167 23,199 22,427 22,594 22,313 22,547 23,339 22,855 21,504 20,687 19,808 20,142 20,042 20,469 20,680.7 20,980.5 20,384.9 20,267.2 20,093.5 20,572.1 17,297.0 16,961.6 11,129.6
Total Debt 15,724 16,138 15,772 15,820 13,851 13,752 14,012 13,738 13,957 14,029 14,394 14,920 15,989 15,978 15,293 15,379 14,977 14,795 14,535 14,450 14,446 14,004 13,912 13,838 12,322 12,492 11,943 12,025 11,999 11,985 11,980 11,323 9,652 9,640 9,617 10,140 9,790 9,595 9,756.9 10,273.6 9,387.2 10,395.9 10,461.4 11,025.5 10,777.4 10,408.9 7,291.2
Stockholders' Equity 1,200 1,590 1,571 1,991 2,699 2,884 3,426 3,754 3,953 4,118 4,553 4,330 4,056 3,881 3,900 4,191 4,529 1,996 2,102 2,491 2,673 2,973 3,199 3,720 4,489 5,187 5,359 5,560 5,525 5,684 6,862 7,158 7,363 6,486 5,896 5,923 5,997 6,177 6,343.9 6,427.5 6,635.0 5,851.8 5,835.8 5,850.7 4,134.0 4,329.9 2,203.0
Cash Flow
Operating Cash Flow 731 1,204 1,115 178 526 915 761 814 714 1,006 839 941 441 (104) (150) (181) (360) 201 (159) 166 (193) 4 (294) (652) (370) 1,242 900 76 820 1,301 896 1,107 1,397 1,321 1,113 1,146 963 1,213.0 1,044 988 799 144.7 204.4 79.1 172.3 61.3
Capital Expenditure (194) (274) (154) (286) (454) (550) (541) (289) (200) (329) (327) (419) (182) (172) (170) (289) (149) (194) (192) (157) (291) (252) (356) (352) (290) (460) (303) (266) (240) (326) (207) (178) (238) (245) (212) (178) (202) (294.4) (397) (410) (343) (208.6) (221.4) (152.2) (144.2) (91.9)
Free Cash Flow 537 930 961 (108) 72 365 220 525 514 677 512 522 259 (276) (320) (470) (509) 7 (351) 9 (484) (248) (650) (1,004) (660) 782 597 (190) 580 975 689 929 1,159 1,076 901 968 761 918.5 647 578 456 (63.9) (17.0) (73.0) 28.0 (30.6)