Mercantile Bank Corporation logo MBWM - Mercantile Bank Corporation

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 5
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $57.00 DETAILS
HIGH: $57.00
LOW: $57.00
MEDIAN: $57.00
CONSENSUS: $57.00
UPSIDE: 9.20%
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 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Revenue
Revenue 96.5 93.3 96.0 93.4 89.0 92.7 93.1 88.6 87.6 82.1 80.4 73.6 67.4 66.1 55.4 47.3 45.2 49.7 51.5 49.3 48.2 52.0 48.9 48.1 44.5 46.9 47.0 46.2 45.3 42.6 40.2 38.9 39.4 37.4 37.6 34.9 34.6 34.3 35.0 34.2 36.0 32.6 32.8 31.7 31.3 31.5 31.8 20.8 15.1 17.0 16.4 15.8 16.0 16.7 16.8 16.9 17.5 18.4 18.8 20.2 20.9 22.8 24.0 24.7 25.8 27.1 27.6 28.7 30.1 32.0 31.7 30.9 33.8 36.8 38.3 37.5 37.4 38.1 37.0 35.0 32.3 31.2 28.1 25.6 22.9 20.8 19.0 17.1 16.4 15.8 14.7 13.6 12.2 11.9 11.4 11.3 10.7 10.2 9.1 8.1
Cost of Revenue 27.7 31.9 33.8 34.1 33.9 35.6 36.2 35.3 30.7 27.0 25.5 20.4 12.7 10.7 8.7 5.7 5.1 1.1 6.7 1.8 5.6 8.3 9.3 14.2 8.4 7.7 9.4 9.6 8.8 6.4 6.0 5.8 4.8 5.1 5.4 4.5 3.8 3.9 3.9 4.1 3.6 3.4 2.4 2.0 2.3 3.0 2.5 2.2 0.6 0.2 1.0 1.2 1.3 3.2 2.8 0.4 3.7 6.0 5.8 7.0 7.9 13.6 18.2 14.5 17.3 35.9 24.1 25.9 26.6 21.6 20.0 24.7 29.7 27.1 25.5 24.5 22.6 23.1 21.5 19.6 17.2 15.6 13.6 11.6 9.8 8.6 8.2 7.4 7.1 6.7 6.8 7.0 6.6 7.1 8.0 7.8 7.6 7.0 6.2 5.7
Gross Profit 68.8 61.4 62.2 59.3 55.1 57.0 56.9 53.3 56.9 55.1 54.9 53.2 54.7 55.4 46.8 41.6 40.1 48.6 44.8 47.5 42.7 43.7 39.6 34.0 36.1 39.2 37.6 36.5 36.4 36.2 34.1 33.1 34.6 32.3 32.2 30.5 30.8 30.4 31.1 30.1 32.4 29.2 30.4 29.7 28.9 28.5 29.3 18.5 14.5 16.8 15.4 14.6 14.8 13.5 14.0 16.5 13.8 12.5 13.0 13.2 13.0 9.2 5.8 10.2 8.6 (8.8) 3.5 2.8 3.4 10.3 11.6 6.2 4.2 9.7 12.8 13.0 14.9 15.0 15.6 15.4 15.1 15.6 14.5 13.9 13.1 12.2 10.8 9.8 9.3 9.1 7.9 6.6 5.6 4.8 3.3 3.4 3.1 3.2 2.9 2.4
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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 27.1 21.8 21.1 19.6 19.6 25.6 20.3 17.9 18.2 22.2 17.3 16.5 16.7 10.8 16.7 15.7 15.5 25.2 18.7 19.0 17.7 20.5 19.4 16.8 16.0 17.9 16.0 15.6 15.2 17.6 15.1 14.9 14.5 15.5 13.7 13.0 13.3 14.3 13.5 13.1 13.4 14.6 13.1 13.4 12.3 17.9 12.6 8.7 6.3 9.9 5.4 5.2 5.1 6.3 5.1 7.2 6.3 8.6 5.3 5.1 5.3 8.8 5.7 5.7 5.9 4.3 6.0 7.0 6.2 6.0 5.6 5.7 5.8 6.1 5.4 6.5 5.4 5.4 4.7 4.7 4.8 5.6 5.0 4.4 4.2 4.0 3.6 3.5 3.3 3.4 2.8 2.4 1.9 1.8 1.4 1.2 1.2 1.2 1.1 0.9
Other Expenses 14.4 14.9 13.7 13.8 11.5 8.2 12.0 11.8 11.7 7.7 11.7 11.4 11.9 17.8 10.1 11.3 10.2 8.2 7.5 6.2 7.4 5.5 7.0 6.5 6.9 5.4 6.0 6.5 6.6 4.4 6.6 6.5 6.7 4.3 6.5 6.9 6.5 4.1 6.2 6.1 6.5 5.5 6.6 6.9 6.9 1.7 8.1 7.4 2.9 (0.9) 4.5 3.7 3.5 2.9 5.0 3.4 3.4 0.9 4.7 5.4 6.3 3.3 6.2 5.7 5.8 7.6 6.5 5.3 4.6 4.5 4.9 5.1 4.6 3.9 4.1 3.5 3.4 2.8 3.3 3.3 3.2 3.2 3.3 2.7 2.7 2.2 2.8 1.9 1.9 1.5 1.6 1.0 1.2 0.9 0.9 0.8 0.6 0.8 0.8 0.8
Operating Expenses 41.5 36.7 34.8 33.4 31.1 33.8 32.3 29.7 29.9 29.9 28.9 27.8 28.6 28.5 26.8 26.9 25.7 33.3 26.2 25.1 25.1 25.9 26.4 23.2 22.9 23.3 22.0 22.1 21.8 22.0 21.6 21.4 21.1 19.8 20.2 19.9 19.8 18.4 19.7 19.2 19.9 20.1 19.7 20.4 19.2 19.6 20.7 16.1 9.2 9.1 9.9 8.8 8.6 9.2 10.2 10.6 9.7 9.5 10.0 10.4 11.6 12.2 11.9 11.4 11.6 11.9 12.5 12.4 10.8 10.5 10.5 10.8 10.3 10.0 9.6 10.0 8.7 8.2 8.0 8.0 8.0 8.8 8.3 7.1 6.8 6.2 6.4 5.4 5.2 4.9 4.4 3.5 3.2 2.7 2.3 2.1 1.8 2.0 2.0 1.7
Operating Income
Operating Income 27.3 24.6 27.4 26.0 24.0 23.2 24.6 23.5 27.0 25.2 26.0 25.4 26.1 26.9 20.0 14.6 14.3 15.2 18.6 22.3 17.6 17.7 13.2 10.7 13.2 15.8 15.6 14.5 14.6 14.2 12.5 11.7 13.4 12.5 12.0 10.6 11.0 12.0 11.5 10.9 12.5 9.1 10.7 9.3 9.7 8.9 8.5 2.5 5.3 7.7 5.5 5.8 6.2 4.3 3.9 5.8 4.1 3.0 3.0 2.7 1.4 (3.0) (6.1) (1.2) (3.1) (20.7) (9.0) (9.6) (7.3) (0.2) 1.1 (4.6) (6.2) (0.3) 3.2 3.0 6.1 6.8 7.5 7.4 7.1 6.8 6.2 6.8 6.3 6.0 4.4 4.4 4.1 4.2 3.5 3.2 2.4 2.1 1.1 1.3 1.3 1.2 0.9 0.7
Interest Expense 29.5 31.2 33.6 32.5 31.8 34.1 35.1 31.8 29.4 25.2 22.2 18.4 12.1 7.6 5.8 5.2 5.0 4.5 4.8 4.9 5.3 5.8 6.1 6.6 7.6 8.4 8.7 8.7 8.0 6.4 5.6 5.1 4.8 4.5 4.4 3.7 3.2 3.3 3.3 3.0 3.0 2.9 2.9 2.6 2.7 3.0 2.9 2.9 2.5 2.7 2.7 2.7 2.8 2.9 3.2 3.4 3.7 4.1 4.7 5.3 5.7 6.8 7.8 8.3 8.9 10.6 12.3 14.4 16.2 17.6 18.1 18.5 20.6 22.2 22.7 22.1 21.5 21.4 20.1 18.1 16 14.4 12.7 10.7 9.1 7.6 7.0 6.1 5.9 5.7 5.9 6.0 5.9 6.3 7.3 7.4 7.0 6.6 5.8 5.1
Interest Income 85.4 82.3 85.6 82.0 80.3 82.5 83.4 78.9 76.7 73.8 71.2 65.9 60.5 58.3 48.1 39.5 35.9 37.0 35.9 35.8 34.8 37.6 35.6 37.2 37.9 39.6 40.3 39.8 38.6 37.2 35.5 34.3 35.0 32.9 33.0 30.9 28.7 29.7 29.7 30.1 28.9 28.6 28.5 27.7 27.6 28.1 28.9 18.5 13.6 15.4 14.7 14.0 14.2 14.7 14.8 14.9 15.6 16.4 17.0 18.5 19.2 20.5 21.7 22.7 23.2 24.1 25.9 26.9 28.0 30.1 29.8 29.1 32.0 35.3 36.8 36.1 36.0 36.7 35.7 33.7 31.1 29.3 26.8 24.3 21.7 19.7 17.8 16.1 15.4 14.7 13.4 12.6 11.6 11.2 11.0 10.9 10.4 9.7 8.8 7.9
Profitability
EBITDA 27.3 24.6 28.8 27.4 25.7 25.6 27.2 26.2 29.8 27.8 28.9 28.2 29.2 30.0 23.1 17.9 17.8 18.7 22.0 25.6 21.0 20.9 16.1 13.1 14.2 18.4 17.8 17.0 16.8 16.7 14.9 14.1 15.9 15.0 14.5 13.4 13.5 14.9 13.9 12.4 15.3 12.2 13.7 12.1 12.5 11.8 11.3 3.9 5.8 8.3 6.0 6.3 6.8 4.9 4.4 6.4 4.7 3.5 3.6 3.3 2.0 (2.4) (5.5) (0.5) (2.5) (20.3) (8.3) (8.8) (6.6) 0.6 1.9 (3.9) (5.6) 0.5 4.0 3.8 6.8 7.3 8.3 8.2 7.9 7.5 6.9 7.4 6.8 6.4 4.8 4.8 4.5 4.6 4.1 3.6 2.7 2.4 1.2 1.4 1.4 1.3 1.1 0.9
EBIT 27.3 24.6 27.4 26.0 24.0 23.2 24.6 23.5 27.0 25.2 26.0 25.4 26.1 26.9 20.0 14.6 14.3 15.2 18.6 22.3 17.6 17.7 13.2 10.7 13.2 15.8 15.6 14.5 14.6 14.2 12.5 11.7 13.4 12.5 12.0 10.6 11.0 12.0 11.5 10.9 12.5 9.1 10.7 9.3 9.7 8.9 8.5 2.5 5.3 7.7 5.5 5.8 6.2 4.3 3.9 5.8 4.1 3.0 3.0 2.7 1.4 (3.0) (6.1) (1.2) (3.1) (20.7) (9.0) (9.6) (7.3) (0.2) 1.1 (4.6) (6.2) (0.3) 3.2 3.0 6.1 6.8 7.5 7.4 7.1 6.8 6.2 6.8 6.3 6.0 4.4 4.4 4.1 4.2 3.5 3.2 2.4 2.1 1.1 1.3 1.3 1.2 0.9 0.7
Income Before Tax 27.3 24.6 27.4 26.0 24.0 23.2 24.6 23.5 27.0 25.2 26.0 25.4 26.1 26.9 20.0 14.6 14.3 15.2 18.6 22.3 17.6 17.7 13.2 10.7 13.2 15.8 15.6 14.5 14.6 14.2 12.5 11.7 13.4 12.5 12.0 10.6 11.0 12.0 11.5 10.9 12.5 9.1 10.7 9.3 9.7 8.9 8.5 2.5 5.3 7.7 5.5 5.8 6.2 4.3 3.9 5.8 4.1 3.0 3.0 2.7 1.4 (3.0) (6.1) (1.2) (3.1) (20.7) (9.0) (9.6) (7.3) (0.2) 1.1 (4.6) (6.2) (0.3) 3.2 3.0 6.1 6.8 7.5 7.4 7.1 6.8 6.2 6.8 6.3 6.0 4.4 4.4 4.1 4.2 3.5 3.2 2.4 2.1 1.1 1.3 1.3 1.2 0.9 0.7
Income Tax Expense 4.6 1.8 3.7 3.3 4.5 3.6 4.9 4.7 5.4 5.2 5.1 5.0 5.2 5.1 3.9 2.9 2.8 3.6 3.5 4.2 3.3 3.7 2.5 2.0 2.5 2.5 3.0 2.7 2.8 2.7 2.4 2.2 2.6 4.5 3.7 3.3 3.4 4.0 3.6 3.4 4.0 2.6 3.4 2.8 3.1 2.6 2.6 1.0 1.7 2.5 2.0 1.8 1.8 1.3 1.2 1.9 1.3 (27.4) 0 0 0 2.0 (0.7) (0.9) (0.4) 15.4 (3.8) (3.3) (2.8) (0.5) 0.1 (2.0) (2.4) (0.4) 0.8 0.8 1.9 2.2 2.3 2.3 2.2 2.2 1.9 2.1 1.9 1.5 1.3 1.2 1.2 1.2 1 0.9 0.7 0.7 0.3 0.4 0.4 0.4 0.3 0.2
Net Income 22.7 22.8 23.8 22.6 19.5 19.6 19.6 18.8 21.6 20.0 20.9 20.4 21.0 21.8 16.0 11.7 11.5 11.6 15.1 18.1 14.2 14.1 10.7 8.7 10.7 13.3 12.6 11.7 11.8 11.6 10.1 9.4 10.9 8.0 8.3 7.3 7.6 8.1 7.8 7.4 8.5 6.5 7.3 6.6 6.6 6.3 5.9 1.5 3.6 5.2 3.5 4.0 4.4 3.0 2.6 4.0 2.9 30.3 3.0 2.7 1.4 (5.0) (5.4) (0.4) (2.6) (36.1) (5.3) (6.2) (4.5) 0.3 1.1 (2.6) (3.7) 0.1 2.4 2.2 4.3 4.6 5.2 5.1 4.9 4.5 4.3 4.7 4.4 4.5 3.1 3.1 3.0 3.0 2.5 2.3 1.7 1.5 0.8 0.9 0.9 0.8 0.6 0.5
Per Share Data
EPS (Basic) 1.32 1.40 1.46 1.39 1.21 1.22 1.22 1.17 1.34 1.25 1.30 1.27 1.31 1.37 1.01 0.74 0.73 0.74 0.95 1.12 0.87 0.87 0.66 0.54 0.65 0.81 0.77 0.71 0.72 0.70 0.61 0.57 0.66 0.48 0.51 0.45 0.46 0.49 0.48 0.46 0.52 0.40 0.45 0.39 0.39 0.37 0.35 0.13 0.41 0.59 0.40 0.46 0.51 0.35 0.30 0.38 0.30 3.48 0.31 0.28 0.13 -0.62 -0.67 -0.08 -0.35 -4.29 -0.66 -0.75 -0.53 0.04 0.13 -0.31 -0.44 0.01 0.28 0.26 0.49 0.52 0.62 0.58 0.53 0.52 0.49 0.51 0.48 0.54 0.35 0.38 0.35 0.35 0.39 0.35 0.26 0.22 0.14 0.25 0.25 0.22 0.18 0.14
EPS (Diluted) 1.32 1.40 1.46 1.39 1.21 1.22 1.22 1.17 1.34 1.25 1.30 1.27 1.31 1.37 1.01 0.74 0.73 0.74 0.95 1.12 0.87 0.87 0.66 0.54 0.65 0.81 0.77 0.71 0.72 0.70 0.61 0.57 0.66 0.48 0.51 0.45 0.46 0.49 0.48 0.46 0.52 0.40 0.45 0.39 0.39 0.37 0.35 0.13 0.41 0.59 0.40 0.46 0.50 0.35 0.30 0.36 0.28 3.52 0.30 0.27 0.12 -0.62 -0.67 -0.08 -0.35 -4.29 -0.66 -0.75 -0.53 0.04 0.12 -0.31 -0.44 0.01 0.28 0.26 0.48 0.52 0.61 0.57 0.53 0.52 0.48 0.50 0.47 0.54 0.35 0.37 0.34 0.35 0.38 0.35 0.26 0.22 0.14 0.25 0.25 0.22 0.18 0.14
Shares Outstanding 17.2 16.3 16.2 16.2 16.2 16.1 16.1 16.1 16.1 16.0 16.0 16.0 16.0 15.9 15.9 15.8 15.8 15.7 15.9 16.1 16.3 16.3 16.2 16.2 16.4 16.4 16.4 16.4 16.4 16.6 16.6 16.6 16.6 16.5 16.5 16.5 16.4 16.4 16.3 16.2 16.3 16.3 16.4 16.8 16.9 16.9 16.9 11.4 8.7 8.7 8.7 8.7 8.7 8.7 8.6 8.6 8.6 8.6 8.6 8.6 8.6 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.5 8.9 8.9 8.4 8.8 9.2 8.8 8.8 9.2 9.2 8.3 8.7 8.3 8.7 8.7 6.6 6.6 6.6 6.3 5.6 3.6 3.6 3.5 3.5 3.5
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 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2001 Q3 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1
Current Assets
Cash & Cash Equivalents 48.4 473.3 477.0 296.1 385.5 393.0 328.5 197.6 237.2 130.5 266.0 207.8 57.9 96.8 284.0 479.1 770.2 975.2 825.4 759.5 652.3 626.0 554.6 471.2 236.7 233.7 228.5 150.4 214.9 75.4 80.0 125.7 211.2 200.1 177.1 101.6 53.0 183.6 141.7 107.0 101.2 16.5 12.6 18.9 15.6 17.2 29.3 35.0 29.9 16.3 34.2 28.1 23.4 29.4 18.2 14.7 12.8 11.7 16.9 9.0 8.6 13.7 10 7.3 7.2 6.5 0 0 0
Short-Term Investments 0 1,102.2 591.6 571.1 533.5 730.4 703.4 647.9 609.2 617.1 592.3 609.0 620.0 602.9 583.0 603.6 605.7 592.7 559.6 506.1 434.3 387.3 312.4 307.7 312.1 334.7 345.5 347.9 337.9 337.4 326.5 331.1 337.0 335.7 330.1 322.3 332.4 328.1 325.4 323.5 343.8 9.5 9.5 1.5 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6.3 7.1 7.1 7.7 8.6 11.1 4.3 4.8 4.1 3.5 3.9 3.3 3.4 3.1 2.7 2.9 2.8 2.5 2.2 2.2 1.8 1.6 1.4 1.3 0 0 0 0
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 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) 0 0 0 0 0 0 0 0 0 207.7 177 138.1 91.7
Total Current Assets 48.4 1,575.6 1,068.7 867.2 918.9 1,123.4 1,031.9 845.5 846.4 747.6 858.3 816.8 677.9 699.7 867.0 1,082.7 1,375.9 1,567.9 1,384.9 1,265.7 1,086.6 1,013.4 867.0 778.9 548.9 568.4 574.1 498.3 552.8 412.7 406.5 456.9 548.1 535.8 507.1 423.9 385.4 511.7 467.2 430.4 445.0 32.3 29.1 27.5 23.3 25.8 40.4 39.3 34.8 20.4 37.7 32.0 26.7 32.9 21.3 17.5 15.7 14.5 19.5 11.2 10.8 15.5 11.6 8.7 8.5 214.2 177 138.1 91.7
Non-Current Assets
Property, Plant & Equipment 61.9 62.5 56.2 54.8 53.7 53.4 54.2 50.2 50.8 50.9 52.2 52.3 51.5 51.5 52.1 51.4 56.1 57.3 57.5 58.2 55.4 59.0 60.4 59.2 59.1 57.3 54.6 51.8 50.1 48.3 48.1 47.1 46.3 46.0 45.6 46.0 45.8 45.5 45.2 45.6 46.0 28.6 29.1 29.7 30.9 31.7 34.5 18.5 16.6 15.3 14.2 12.5 12.2 11.3 8.4 6.2 4.8 4.1 4.0 3.4 3.4 3.5 3.5 3.2 2.2 1.9 1.4 1.4 1.3
Goodwill 73.7 72.7 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 49.5 0 0 0 0 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 18.2 20.4 0 0 0 0 0 0 0 0 0.2 0.3 0.4 0.6 0.7 0.9 1.1 1.4 1.6 1.8 2.1 2.4 2.8 3.1 3.4 3.8 4.2 4.6 5.1 5.6 6.0 6.5 7.0 7.6 8.2 8.7 9.3 10.0 10.6 11.2 11.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0.1 0.1 0.1
Long-Term Investments 6,438.0 4,763.7 4,573.5 4,667.2 4,595.1 4,562.2 4,525.7 4,405.0 4,284.8 4,272.5 4,066.5 4,019.1 3,926.5 3,877.9 3,856.2 3,700.8 3,535.4 3,434.2 3,323.5 3,240.6 3,379.1 3,178.4 3,315.0 3,300.8 2,876.7 2,832.8 2,908.6 2,857.4 2,776.5 2,730.7 2,675.7 2,615.7 2,531.2 2,539.1 2,535.1 2,509.0 2,423.0 2,360.7 2,388.9 2,362.8 2,279.4 1,580.1 1,660.4 1,733.6 1,896.8 1,973.1 1,972.2 1,288.2 1,208.0 1,138.4 955.6 901.7 857.0 794.3 603.4 567.6 514.8 483.3 447.8 418.8 389.4 344.6 312 272.4 239.3 0 0 0 0
Other Non-Current Assets 304.9 340.5 560.7 542.3 524.0 263.7 255.8 252.3 234.5 232.7 224.3 199.7 190.1 193.4 191.3 173.2 158.0 147.5 147.4 141.6 137.6 134.7 126.0 123.0 119.7 121.1 119.4 114.4 117.8 117.1 114.2 112.9 111.7 108.7 109.2 106.3 105.8 105.4 102.7 100.4 94.3 163.1 184.2 115.4 120.3 209.2 59.3 32.7 34.5 29.3 27.4 21.7 26.0 31.9 13.5 26.5 25.2 10.9 4.7 6.9 6.1 4.4 3.9 7.6 11.7 0 0 0 0
Total Non-Current Assets 6,896.6 5,259.7 5,239.8 5,313.8 5,222.3 4,928.8 4,885.2 4,756.9 4,619.6 4,605.6 4,392.7 4,320.8 4,218.0 4,172.9 4,149.9 3,975.8 3,800.0 3,689.8 3,579.5 3,491.8 3,623.8 3,424.0 3,553.6 3,535.5 3,108.5 3,064.5 3,136.3 3,077.8 2,999.0 2,951.2 2,893.6 2,831.6 2,745.8 2,750.9 2,747.5 2,719.5 2,633.5 2,570.9 2,596.8 2,569.5 2,481.1 1,771.8 1,873.8 1,878.8 2,048.0 2,214.0 2,066.0 1,339.4 1,259.2 1,182.9 997.1 935.8 895.1 837.5 625.4 600.4 544.7 498.3 456.6 429.1 398.9 352.5 319.4 283.2 253.2 2 1.5 1.5 1.4
Total Assets 6,945.0 6,835.2 6,308.5 6,181.0 6,141.2 6,052.2 5,917.1 5,602.4 5,466.0 5,360.1 5,251.0 5,137.6 4,895.9 4,872.6 5,016.9 5,058.6 5,175.9 5,257.7 4,964.4 4,757.4 4,710.4 4,437.3 4,420.6 4,314.4 3,657.4 3,632.9 3,710.4 3,576.1 3,551.8 3,363.9 3,300.1 3,288.5 3,293.9 3,286.7 3,254.7 3,143.3 3,018.9 3,082.6 3,064.0 2,999.9 2,926.1 1,804.1 1,902.9 1,906.2 2,071.4 2,239.8 2,106.4 1,378.6 1,293.9 1,202.8 1,034.8 967.8 921.9 870.4 646.6 617.9 560.4 512.7 476.0 440.3 409.7 368 331 291.9 261.7 216.2 178.5 139.6 93.1
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 0 106.7 76.6 70.1 78.2 80.4 53.0 39.8 24.6 25.2 22.6 23.8 24.3 18.3 18.1 19.3 22.4 21.4 16.6 15.4 25.2 13.4 13.4 14.9 14.2 15.4 14.0 16.2 15.2 15.5 16.5 17.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.5 0.5 0.3 0.3
Short-Term Debt 219.5 232.3 332.4 333.7 302.1 121.5 220.9 221.9 228.6 229.7 164.1 219.5 244.7 194.3 198.6 203.3 204.3 197.5 175.8 169.7 141.3 118.4 157.0 167.5 133.3 102.7 104.0 119.7 111.2 103.5 112.4 94.6 104.9 118.7 122.3 110.9 126.7 131.7 146.8 136.7 162.3 108.3 98.6 2.6 109.6 92.0 92.0 174.0 141.6 145.5 84.7 48.1 65.3 48.7 37.9 34.8 30.1 0 33.7 29.1 27.2 0 20.8 17.9 17 0 15.4 10.6 5.1
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 0 0 0 0 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 5,284.5 4,811.8 4,710.5 4,681.8 4,698.4 4,455.9 4,146.6 4,007.8 3,900.9 3,900.7 3,756.8 3,598.0 3,712.8 3,846.1 3,873.9 3,976.3 4,083.2 3,869.0 3,671.3 3,645.0 3,411.6 3,372.0 3,262.3 2,645.4 2,690.4 2,767.1 2,619.2 2,611.0 2,463.7 2,508.8 2,529.8 2,540.1 2,522.4 2,489.0 2,370.7 2,278.0 2,375.0 2,329.4 2,279.7 2,265.1 1,340.2 1,420.2 1,401.6 1,478.6 1,651.3 1,641.0 1,046.1 995.3 902.9 843.6 801.1 754.1 722.1 518.7 520.2 467.1 425.7 389.8 361.6 334.4 294.8 264.8 247 217 189 0 0 0
Total Current Liabilities 219.5 5,516.7 5,144.2 5,044.2 4,983.9 4,819.9 4,676.8 4,368.5 4,236.4 4,130.7 4,171.5 4,052.9 3,912.7 3,985.4 4,125.1 4,130.3 4,220.3 4,305.3 4,070.1 3,863.6 3,810.1 3,554.2 3,547.3 3,447.9 2,797.9 2,815.5 2,892.5 2,755.5 2,737.7 2,592.5 2,634.6 2,637.7 2,659.9 2,655.3 2,626.8 2,495.7 2,420.9 2,521.9 2,491.8 2,432.9 2,445.2 1,455.2 1,524.9 1,411.5 1,604.8 1,760.6 1,733.0 1,220.0 1,136.9 1,048.4 928.3 849.2 819.4 770.8 556.7 555.0 497.1 425.7 423.5 390.7 361.6 294.8 285.6 264.9 234 189.5 15.9 10.9 5.4
Non-Current Liabilities
Long-Term Debt 483.8 593.6 405.7 405.5 446.1 526.7 556.5 566.2 586.0 606.5 596.3 606.0 515.8 445.8 475.6 499.3 519.1 495.9 442.1 441.9 441.7 441.6 441.4 441.2 441.1 400.9 410.7 420.5 430.4 396.2 286.0 275.9 265.7 265.5 265.3 290.2 250.0 219.8 222.7 222.5 142.3 209.8 239.8 254.9 284.8 309.8 171.8 17.9 17.9 17.6 0.9 31 0.6 16 16.2 16.1 16.1 16.1 16.0 0.0 0.0 16 16 0 0 0 0 0 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 0 0 0 0 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 5,504.8 0 100.9 99.8 102.8 121.0 100.5 116.6 106.9 93.9 0 0 0 0 0 0 0 0 0 0 17.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 99.8 0 0 23.9 6.4 6.1 7.1 22.1 6.1 22.0 6.0 6.3 6.3 7.3 39.1 6.3 4.4 3.7 29.2 1.9 1.1 0.7 0 0 0 0
Total Non-Current Liabilities 5,988.6 593.6 506.6 505.3 549.0 647.7 657.0 682.8 692.9 700.4 596.3 606.0 515.8 445.8 475.6 499.3 519.1 495.9 442.1 441.9 459.0 441.6 441.4 441.2 441.1 400.9 410.7 420.5 430.4 396.2 286.0 275.9 265.7 265.5 265.3 290.2 250.0 219.8 222.7 222.5 142.3 209.8 239.8 354.6 284.8 309.8 195.7 24.3 23.9 24.7 23.0 37.1 22.6 22.0 22.5 22.4 23.4 55.2 22.3 4.4 3.7 45.2 17.9 1.1 0.7 0 0 0 0
Total Liabilities 6,208.1 6,110.3 5,650.9 5,549.5 5,532.9 5,467.6 5,333.8 5,051.2 4,929.3 4,837.9 4,767.8 4,658.9 4,428.5 4,431.2 4,600.7 4,629.6 4,739.4 4,801.2 4,512.1 4,305.5 4,269.1 3,995.8 3,988.7 3,889.2 3,239.0 3,216.4 3,303.2 3,176.0 3,168.0 2,988.7 2,920.6 2,913.6 2,925.6 2,920.8 2,892.1 2,785.8 2,670.9 2,741.8 2,714.5 2,655.4 2,587.5 1,665.0 1,764.7 1,766.1 1,889.7 2,070.4 1,928.7 1,244.4 1,160.9 1,072.6 951.3 886.3 842.0 792.8 579.2 577.4 520.6 480.9 445.8 395.1 365.4 340 303.5 264.9 234.7 189.5 151.9 127.6 80.7
Stockholders' Equity
Common Stock 350.6 349.4 303.5 302.3 300.7 299.7 298.7 297.6 296.1 295.1 294.0 292.9 291.5 290.4 289.2 288.2 286.8 285.8 285.0 293.2 299.4 302.0 301.9 300.9 299.6 305.0 304.1 306.7 305.3 308.0 312.5 311.7 310.6 309.8 309.0 308.3 307.4 305.5 304.0 303.3 302.4 0 0 0 0 0 0 130.9 130.8 118.6 75.6 75.6 75.5 69.4 61.8 36.7 36.8 29.9 28.2 28.2 28.2 28.2 28.2 0 0 28.2 28.2 13.9 13.9
Retained Earnings 415.5 399.4 382.7 365.0 348.3 334.6 320.7 306.8 293.6 277.5 262.8 247.3 232.1 216.3 199.5 188.5 181.5 174.5 167.5 157.2 143.6 134.0 124.5 118.2 114.0 107.8 98.9 90.6 83.1 75.5 80.3 74.1 68.3 61.0 55.3 50.0 45.6 40.9 43.7 38.6 33.7 (57.8) (57.1) (54.2) (12.2) (5.8) 2.2 4.2 1.7 11.4 7.2 5.0 3.2 7.1 4.7 3.3 2.5 1.6 2.5 1.7 1.1 0.6 (0.1) (0.7) (1.2) (1.5) (1.7) (1.8) (1.5)
Accumulated Other Comprehensive Income (29.2) (24.0) (28.5) (35.8) (40.7) (49.8) (36.1) (53.2) (53.0) (50.5) (73.6) (61.5) (56.3) (65.3) (72.5) (47.7) (31.9) (3.7) (0.3) 1.5 (1.8) 5.5 5.6 6.1 4.8 3.7 4.3 2.8 (4.7) (8.2) (13.4) (10.9) (10.5) (4.9) (1.7) (0.9) (4.9) (5.6) 1.8 2.7 2.5 3.1 1.8 0.9 0.7 2.9 (1.1) (0.8) 0.6 0.2 0.7 0.9 1.1 1.1 0.9 0.4 0.5 0.3 (0.4) (0.7) (0.9) (0.8) (0.5) 0 (0.1) (0.2) 0.1 (0.1) 0
Total Stockholders' Equity 736.9 724.9 657.6 631.5 608.3 584.5 583.3 551.2 536.6 522.1 483.2 478.7 467.4 441.4 416.3 429.0 436.5 456.6 452.3 451.9 441.2 441.6 431.9 425.2 418.4 416.6 407.2 400.1 383.7 375.2 379.5 374.9 368.3 365.9 362.5 357.5 348.1 340.8 349.5 344.6 338.6 139.0 138.2 140.1 181.7 169.3 177.7 134.3 133.1 130.2 83.5 81.5 79.8 77.6 67.4 40.4 39.8 31.9 30.3 29.2 28.4 28 27.5 27.1 27 26.7 26.6 12 12.3
Total Liabilities & Equity 6,945.0 6,835.2 6,308.5 6,181.0 6,141.2 6,052.2 5,917.1 5,602.4 5,466.0 5,360.1 5,251.0 5,137.6 4,895.9 4,872.6 5,016.9 5,058.6 5,175.9 5,257.7 4,964.4 4,757.4 4,710.4 4,437.3 4,420.6 4,314.4 3,657.4 3,632.9 3,710.4 3,576.1 3,551.8 3,363.9 3,300.1 3,288.5 3,293.9 3,286.7 3,254.7 3,143.3 3,018.9 3,082.6 3,064.0 2,999.9 2,926.1 1,804.1 1,902.9 1,906.2 2,071.4 2,239.8 2,106.4 1,378.6 1,293.9 1,202.8 1,034.8 967.8 921.9 870.4 646.6 617.9 560.4 512.7 476.0 440.3 409.7 368 331 291.9 261.7 216.2 178.5 139.6 93.1
Debt Metrics
Total Debt 703.3 825.9 738.1 739.2 748.2 648.2 777.4 788.1 814.6 840.0 760.4 825.5 760.4 640.2 674.2 702.6 723.4 693.4 617.9 611.6 583.0 559.9 598.4 608.7 574.3 503.6 514.7 540.2 541.6 499.7 398.4 370.4 370.6 384.3 387.6 401.1 376.7 351.5 369.5 359.2 304.6 318.1 338.4 257.5 394.4 401.8 263.8 191.9 159.5 163.2 85.6 79.1 65.9 64.7 54.1 50.9 46.1 16.1 49.7 29.1 27.2 16 36.8 17.9 17 17 15.4 10.6 5.1
Net Debt 654.8 352.6 261.1 443.1 362.8 255.2 448.9 590.5 577.3 709.4 494.4 617.7 702.5 543.4 390.2 223.5 (46.8) (281.8) (207.4) (147.9) (69.3) (66.1) 43.8 137.5 337.6 269.8 286.2 389.8 326.7 424.4 318.4 244.7 159.4 184.2 210.6 299.5 323.7 167.9 227.8 252.2 203.5 301.6 325.8 238.6 378.8 384.6 234.5 156.9 129.5 146.8 51.4 51.0 42.5 35.2 35.9 36.2 33.4 4.4 32.8 20.1 18.6 2.3 26.8 10.6 9.8 17 15.4 10.6 5.1
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 2003 Q4 2003 Q3 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2002 Q2 2002 Q1 2001 Q4 2001 Q3 2001 Q2 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1
Operating Activities
Net Income 22.7 22.8 23.8 22.6 19.5 19.6 19.6 18.8 21.6 20.0 20.9 20.4 21.0 21.8 16.0 11.7 11.5 11.6 15.1 18.1 14.2 14.1 10.7 8.7 10.7 13.3 12.6 11.7 11.8 11.6 10.1 9.4 10.9 8.0 8.3 7.3 7.6 8.1 7.8 7.4 8.5 4.3 4.7 4.4 3.1 3.0 3.0 2.2 2.5 2.2 2.3 2.2 1.7 1.6 1.5 1.3 0.8 0.9 0.8 0.6 0.5 0.7 0.5 0.5 0.4 0.2 0.1 (0.3) (1.1)
Depreciation & Amortization 1.7 1.4 1.3 1.4 1.6 2.4 2.7 2.7 2.8 2.6 2.9 2.9 3.0 3.1 3.2 3.2 3.5 3.5 3.4 3.3 3.5 3.2 2.9 2.4 1.0 2.6 2.3 2.5 2.2 2.4 2.4 2.4 2.5 2.5 2.5 2.8 2.5 2.8 2.5 1.5 2.8 0.7 0.6 0.5 0.4 0.4 0.4 0.5 0.5 0.5 0.4 0.3 0.3 0.3 0.3 0.2 0.1 0.2 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.0
Stock-Based Compensation 1.0 0.8 0.9 0.9 0.8 0.8 0.9 0.9 0.7 0.9 0.8 0.8 0.9 1.0 0.8 0.8 0.8 2.1 0.4 0.6 0.6 0.2 0.7 0.7 0.6 0.7 0.7 0.7 0.7 0.6 0.6 0.5 0.6 0.6 0.5 0.5 0.5 0.6 0.3 0.3 0.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital 10.1 (19.7) (12.4) (22.0) (27.3) 23.3 (25.0) (8.7) 11.0 (22.3) 7.7 1.6 (7.3) (1.1) 11.8 4.2 11.0 (0.8) (4.2) (6.8) (2.8) 1.6 (3.1) (5.7) (2.7) 1.1 (1.2) (0.3) (10.1) 12.4 (0.8) (3.0) (1.0) 0.8 0.3 (3.2) (0.2) 1.0 (3.0) (1.2) 1.6 0.6 0.4 (1.8) (0.7) (1.5) (0.1) (0.6) (1.0) (0.1) 9.8 (9.9) (1.9) 0.1 (1.6) (0.9) (4.3) 0.2 1.3 0.6 0.4 (0.2) (0.8) (0.3) (0.2) (152.3) 38.9 46.4 0.3
Other Non-Cash Items (7.1) 0.3 9.4 (10.8) 2.3 13.8 (6.2) (4.6) 4.2 (8.6) 4.1 (6.3) 0.5 12.3 1.0 2.2 1.2 29.0 (17.8) 8.4 (16.9) 2.5 17.5 (8.7) (19.4) 6.9 (8.2) (3.2) (2.2) (0.2) 1.1 (1.1) 0.0 2.1 (2.5) 0.4 (2.5) (0.1) (1.2) (2.3) (3.2) 0.8 0.9 0.7 1.2 1.2 0.9 1.3 0.6 0.6 1.0 0.8 0.7 0.3 0.6 0.5 0.7 0.5 0.4 0.6 0.6 0.4 0.7 0.5 0.4 152.6 (38.5) (46.1) 0
Operating Cash Flow 28.3 5.6 23.1 (7.8) (3.0) 59.9 (8.1) 9.1 40.2 (7.3) 36.4 19.4 18.1 37.1 32.8 22.1 27.9 45.4 (3.0) 23.6 (1.4) 21.6 28.7 (2.6) (9.8) 24.6 6.2 11.5 2.4 26.8 13.5 8.3 13.0 13.9 9.1 7.7 8.0 12.4 6.4 5.7 10.1 6.5 6.5 3.8 4.1 3.0 4.2 3.5 2.7 3.2 13.5 (6.6) 0.8 2.3 0.8 1.1 (2.7) 1.7 2.6 2.1 1.6 1.1 0.5 0.8 0.7 0.6 0.6 0.0 (0.8)
Investing Activities
Capital Expenditure (0.9) (0.2) (2.6) (2.4) (1.5) (0.6) (5.6) (0.9) (1.5) (0.5) (1.5) (2.2) (2.5) (0.9) (1.8) (0.1) (0.3) (1.4) (0.7) (2.0) (1.6) (1.8) (2.8) (1.3) (3.2) (4.4) (3.8) (2.6) (2.7) (1.2) (2.0) (1.7) (1.4) (1.2) (2.0) (1.0) (1.1) (1.0) (0.7) (0.3) 0 (2.3) (3.0) (2.4) (2.2) (1.6) (0.4) (1.4) (2.0) (0.6) (1.1) (0.6) (1.2) (0.6) (1.4) (2.3) (1.6) (0.2) (0.8) (0.1) (0.1) 0 (0.4) (1.1) (0.4) (0.5) (0.1) (0.1) (0.4)
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 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 (42.9) (60.2) (38.6) (52.9) (51.7) (69.1) (46.9) (57.0) (0.6) (6.9) (1.4) (4.2) (7.4) (15.8) (12.6) (26.9) (51.7) (40.7) (89.1) (81.6) (87.3) (99.6) (81.5) (89.6) (99.0) (8.7) (29.2) (21.8) (2.4) (12.9) (4.6) (17.8) (13.3) (16.8) (26.2) (9.4) (14.7) (33.9) (69.5) (43) (17.9) (8.0) (11.0) (20.9) (13.7) (5.2) (25.7) (15.8) (19.8) (11.4) (18.2) (10.9) (9.8) (13.9) (21.2) (6.4) (11.1) (6.8) (3.8) (10.5) (6.2) (6.2) (10.4) (4.2) (4.9) 0 0 0 0
Sales/Maturities of Investments 15.4 18.7 20.4 21.4 6.8 25.2 13.4 17.9 5.3 11.4 2.7 8.5 1.7 4.7 1.6 8.8 2.9 2.9 33.0 13.6 31.0 24.3 76.0 96.4 124.5 18.9 33.4 21.1 6.2 8.4 5.9 21.5 4.6 7.2 16.6 25.4 10.9 19.4 65.9 64.5 22.6 3.3 4.7 5.7 4.0 10.1 12.3 10.6 17.1 6.6 8.2 8.1 3.9 15.5 12.9 3.5 5.8 0.9 0.9 7.1 1.4 0.4 3.2 1.2 1.7 0 0 0 0
Other Investing Activities 3.7 49.7 84.5 (61.4) (35.7) (58.5) (114.7) (115.5) (16.4) (202.8) (51.5) (90.3) (48.9) (40.1) (153.9) (167.1) (101.9) (139.9) (64.9) 113.2 (180.0) 130.6 (32.0) (415.3) (24.6) 67.0 (43.1) (75.3) (45.3) (60.2) (61.6) (81.7) 7.7 (7.0) (23.8) (88.3) (60.1) 27.4 (24.8) (87.9) (17.4) (65.8) (50.4) (57.9) (74.4) (75.5) (64.1) (106.5) (53.6) (41.3) (65.1) (49.6) (46.6) (34.1) (46.7) (32.6) (48.4) (28.8) (26.1) (27.1) (40.0) (27.6) (33.8) (31.9) (30) (45.5) (35.4) (45.3) (66.8)
Investing Cash Flow (24.7) 8.0 63.6 (95.3) (82.0) (103.0) (153.9) (155.4) (13.2) (198.9) (51.7) (88.2) (57.1) (52.0) (166.6) (185.3) (151.1) (179.1) (121.7) 43.2 (237.9) 53.6 (40.3) (409.8) (2.3) 72.7 (42.6) (78.6) (44.3) (66.0) (62.3) (79.7) (2.5) (17.7) (35.4) (73.3) (65.1) 11.9 (29.1) (66.7) (12.7) (72.7) (59.7) (75.4) (86.4) (72.2) (77.8) (113.0) (58.3) (46.7) (76.2) (53.0) (53.6) (33.1) (56.3) (37.8) (55.3) (35.0) (29.8) (30.5) (44.8) (33.4) (41.4) (36) (33.6) (46.0) (35.5) (45.4) (67.2)
Financing Activities
Net Debt Issuance (13.4) 10 (10) (10) (20.9) (30) (10) (20) (20.8) 10 (10) 90 69.6 (30) (24) (20.1) 23.0 53.6 6.1 28.4 22.9 (38.7) (10.5) 34.3 40 (10) (10) (10) 34 110 10 10 (13.9) (3.5) (25) 40 30 (3) 10.2 80 30 7.1 6.0 (5.8) 32.4 (3.7) 27.3 53.1 3.2 (2.8) 17.3 10.4 1.4 0.2 (1.4) 3.2 2.7 (7.1) 4.6 2.5 0.0 12.2 3 0 0 0 0 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.6) (8.9) (7.3) (3.5) (0.3) 0 0 (6.3) (0.1) (3.5) 0 (3.6) (5.9) 0 0 0 0 0 0 0 0 0 (0.5) (3.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 14.3 0 0
Dividends Paid (6.6) (6.1) (6.1) (5.9) (5.9) (5.7) (5.7) (5.5) (5.5) (5.3) (5.3) (5.2) (5.2) (5.0) (5.0) (4.8) (4.8) (4.6) (4.7) (4.6) (4.6) (4.5) (4.5) (4.5) (4.5) (4.4) (4.3) (4.2) (4.2) (16.4) (3.9) (3.6) (3.6) (3.1) (3.1) (2.9) (2.9) (10.8) (2.7) (2.6) (2.6) (0.8) (0.8) (0.7) (0.6) (0.6) (0.5) (0.4) (0.4) (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 122.4 (21.5) 110.1 29.4 104.0 143.1 308.4 132.1 105.8 65.8 88.6 133.6 (64.5) (137.5) (32.5) (103.3) (100.1) 235.8 197.8 23.7 250.7 39.5 109.8 616.9 (14.4) (77.9) 132.2 16.7 155.0 (53.9) (3.2) (20.6) 17.8 33.4 129.7 77.0 (101.7) 30.8 50.0 (10.7) (2.7) 75.3 31.9 130.8 50.8 92.5 13.2 26.7 61.9 47.0 32.0 74.4 51.0 27.7 50.3 (1.5) 55.2 41.5 28.2 26.6 40.2 23.6 34.9 29.7 45 37.6 38.5 46.8 70.1
Financing Cash Flow 102.4 (17.3) 94.2 13.7 77.5 107.6 292.9 106.7 79.6 70.7 73.5 218.6 0.2 (172.3) (61.3) (127.9) (81.7) 283.5 190.5 40.4 265.7 (3.7) 95.0 646.9 15.1 (92.1) 114.5 2.7 181.4 34.4 3.1 (14.0) 0.5 26.9 101.8 114.2 (73.5) 17.5 57.5 66.8 13.9 81.8 37.1 124.4 82.6 88.3 45.5 116.8 64.6 43.7 49.2 84.8 52.4 27.8 52.1 26.9 57.8 34.4 32.8 29.1 40.2 35.8 37.9 29.7 45 37.6 38.5 46.8 70.1
Cash Position
Net Change in Cash 106.0 (3.7) 180.9 (89.4) (7.5) 64.5 130.9 (39.6) 106.7 (135.5) 58.2 149.9 (38.8) (187.2) (195.1) (291.1) (205.0) 149.8 65.8 107.2 26.3 71.4 83.4 234.5 3.0 5.2 78.1 (64.5) 139.5 (4.7) (45.7) (85.4) 11.1 23.1 75.4 48.6 (130.6) 41.9 34.7 5.8 11.3 15.6 (16.1) 52.8 0.3 19.1 (28.1) 7.3 9.0 0.2 (13.5) 25.1 (0.4) (3.0) (3.5) (9.8) (0.1) 1.2 5.7 0.6 (3.0) 3.7 (2.9) (5.6) 12 (7.8) 3.6 1.4 2.2
Cash at Beginning 473.3 477.0 296.1 385.5 393.0 328.5 197.6 237.2 130.5 266.0 207.8 57.9 96.8 284.0 479.1 770.2 975.2 825.4 759.5 652.3 626.0 554.6 471.2 236.7 233.7 228.5 150.4 214.9 75.4 80.0 125.7 211.2 200.1 177.1 101.6 53.0 183.6 141.7 107.0 101.2 89.9 57.5 73.6 20.8 35.7 16.6 44.6 37.3 28.3 28.1 41.6 16.6 17.0 19.9 23.5 33.3 33.4 16.9 11.3 10.7 13.7 10 12.9 18.5 6.5 3.6 1.4 2.2 0
Cash at End 579.3 473.3 477.0 296.1 385.5 393.0 328.5 197.6 237.2 130.5 266.0 207.8 57.9 96.8 284.0 479.1 770.2 975.2 825.4 759.5 652.3 626.0 554.6 471.2 236.7 233.7 228.5 150.4 214.9 75.4 80.0 125.7 211.2 200.1 177.1 101.6 53.0 183.6 141.7 107.0 101.2 73.1 57.5 73.6 36.0 35.7 16.6 44.6 37.3 28.3 28.1 41.6 16.6 17.0 19.9 23.5 33.3 18.1 16.9 11.3 10.7 13.7 10 12.9 18.5 (7.8) 3.6 1.4 2.2
Free Cash Flow 27.4 5.4 20.5 (10.2) (4.5) 59.3 (13.7) 8.2 38.8 (7.8) 35.0 17.2 15.6 36.2 31.0 22.0 27.6 44.1 (3.7) 21.6 (3.0) 19.8 25.9 (3.9) (12.9) 20.3 2.5 8.8 (0.3) 25.6 11.6 6.6 11.6 12.7 7.0 6.7 6.8 11.5 5.6 5.4 10.1 4.2 3.5 1.4 1.9 1.5 3.9 2.1 0.7 2.6 12.4 (7.3) (0.3) 1.7 (0.6) (1.2) (4.3) 1.5 1.9 2.0 1.6 1.1 0.1 (0.3) 0.3 0.1 0.5 (0.1) (1.2)
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 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Income Statement
Revenue 96.5 93.3 96.0 93.4 89.0 92.7 93.1 88.6 87.6 82.1 80.4 73.6 67.4 66.1 55.4 47.3 45.2 49.7 51.5 49.3 48.2 52.0 48.9 48.1 44.5 46.9 47.0 46.2 45.3 42.6 40.2 38.9 39.4 37.4 37.6 34.9 34.6 34.3 35.0 34.2 36.0 32.6 32.8 31.7 31.3 31.5 31.8 20.8 15.1 17.0 16.4 15.8 16.0 16.7 16.8 16.9 17.5 18.4 18.8 20.2 20.9 22.8 24.0 24.7 25.8 27.1 27.6 28.7 30.1 32.0 31.7 30.9 33.8 36.8 38.3 37.5 37.4 38.1 37.0 35.0 32.3 31.2 28.1 25.6 22.9 20.8 19.0 17.1 16.4 15.8 14.7 13.6 12.2 11.9 11.4 11.3 10.7 10.2 9.1 8.1
Gross Profit 68.8 61.4 62.2 59.3 55.1 57.0 56.9 53.3 56.9 55.1 54.9 53.2 54.7 55.4 46.8 41.6 40.1 48.6 44.8 47.5 42.7 43.7 39.6 34.0 36.1 39.2 37.6 36.5 36.4 36.2 34.1 33.1 34.6 32.3 32.2 30.5 30.8 30.4 31.1 30.1 32.4 29.2 30.4 29.7 28.9 28.5 29.3 18.5 14.5 16.8 15.4 14.6 14.8 13.5 14.0 16.5 13.8 12.5 13.0 13.2 13.0 9.2 5.8 10.2 8.6 (8.8) 3.5 2.8 3.4 10.3 11.6 6.2 4.2 9.7 12.8 13.0 14.9 15.0 15.6 15.4 15.1 15.6 14.5 13.9 13.1 12.2 10.8 9.8 9.3 9.1 7.9 6.6 5.6 4.8 3.3 3.4 3.1 3.2 2.9 2.4
Operating Income 27.3 24.6 27.4 26.0 24.0 23.2 24.6 23.5 27.0 25.2 26.0 25.4 26.1 26.9 20.0 14.6 14.3 15.2 18.6 22.3 17.6 17.7 13.2 10.7 13.2 15.8 15.6 14.5 14.6 14.2 12.5 11.7 13.4 12.5 12.0 10.6 11.0 12.0 11.5 10.9 12.5 9.1 10.7 9.3 9.7 8.9 8.5 2.5 5.3 7.7 5.5 5.8 6.2 4.3 3.9 5.8 4.1 3.0 3.0 2.7 1.4 (3.0) (6.1) (1.2) (3.1) (20.7) (9.0) (9.6) (7.3) (0.2) 1.1 (4.6) (6.2) (0.3) 3.2 3.0 6.1 6.8 7.5 7.4 7.1 6.8 6.2 6.8 6.3 6.0 4.4 4.4 4.1 4.2 3.5 3.2 2.4 2.1 1.1 1.3 1.3 1.2 0.9 0.7
Net Income 22.7 22.8 23.8 22.6 19.5 19.6 19.6 18.8 21.6 20.0 20.9 20.4 21.0 21.8 16.0 11.7 11.5 11.6 15.1 18.1 14.2 14.1 10.7 8.7 10.7 13.3 12.6 11.7 11.8 11.6 10.1 9.4 10.9 8.0 8.3 7.3 7.6 8.1 7.8 7.4 8.5 6.5 7.3 6.6 6.6 6.3 5.9 1.5 3.6 5.2 3.5 4.0 4.4 3.0 2.6 4.0 2.9 30.3 3.0 2.7 1.4 (5.0) (5.4) (0.4) (2.6) (36.1) (5.3) (6.2) (4.5) 0.3 1.1 (2.6) (3.7) 0.1 2.4 2.2 4.3 4.6 5.2 5.1 4.9 4.5 4.3 4.7 4.4 4.5 3.1 3.1 3.0 3.0 2.5 2.3 1.7 1.5 0.8 0.9 0.9 0.8 0.6 0.5
EPS (Diluted) 1.32 1.40 1.46 1.39 1.21 1.22 1.22 1.17 1.34 1.25 1.30 1.27 1.31 1.37 1.01 0.74 0.73 0.74 0.95 1.12 0.87 0.87 0.66 0.54 0.65 0.81 0.77 0.71 0.72 0.70 0.61 0.57 0.66 0.48 0.51 0.45 0.46 0.49 0.48 0.46 0.52 0.40 0.45 0.39 0.39 0.37 0.35 0.13 0.41 0.59 0.40 0.46 0.50 0.35 0.30 0.36 0.28 3.52 0.30 0.27 0.12 -0.62 -0.67 -0.08 -0.35 -4.29 -0.66 -0.75 -0.53 0.04 0.12 -0.31 -0.44 0.01 0.28 0.26 0.48 0.52 0.61 0.57 0.53 0.52 0.48 0.50 0.47 0.54 0.35 0.37 0.34 0.35 0.38 0.35 0.26 0.22 0.14 0.25 0.25 0.22 0.18 0.14
Balance Sheet
Cash & Equivalents 48.4 473.3 477.0 296.1 385.5 393.0 328.5 197.6 237.2 130.5 266.0 207.8 57.9 96.8 284.0 479.1 770.2 975.2 825.4 759.5 652.3 626.0 554.6 471.2 236.7 233.7 228.5 150.4 214.9 75.4 80.0 125.7 211.2 200.1 177.1 101.6 53.0 183.6 141.7 107.0 101.2 16.5 12.6 18.9 15.6 17.2 29.3 35.0 29.9 16.3 34.2 28.1 23.4 29.4 18.2 14.7 12.8 11.7 16.9 9.0 8.6 13.7 10 7.3 7.2 6.5 0 0 0
Total Assets 6,945.0 6,835.2 6,308.5 6,181.0 6,141.2 6,052.2 5,917.1 5,602.4 5,466.0 5,360.1 5,251.0 5,137.6 4,895.9 4,872.6 5,016.9 5,058.6 5,175.9 5,257.7 4,964.4 4,757.4 4,710.4 4,437.3 4,420.6 4,314.4 3,657.4 3,632.9 3,710.4 3,576.1 3,551.8 3,363.9 3,300.1 3,288.5 3,293.9 3,286.7 3,254.7 3,143.3 3,018.9 3,082.6 3,064.0 2,999.9 2,926.1 1,804.1 1,902.9 1,906.2 2,071.4 2,239.8 2,106.4 1,378.6 1,293.9 1,202.8 1,034.8 967.8 921.9 870.4 646.6 617.9 560.4 512.7 476.0 440.3 409.7 368 331 291.9 261.7 216.2 178.5 139.6 93.1
Total Debt 703.3 825.9 738.1 739.2 748.2 648.2 777.4 788.1 814.6 840.0 760.4 825.5 760.4 640.2 674.2 702.6 723.4 693.4 617.9 611.6 583.0 559.9 598.4 608.7 574.3 503.6 514.7 540.2 541.6 499.7 398.4 370.4 370.6 384.3 387.6 401.1 376.7 351.5 369.5 359.2 304.6 318.1 338.4 257.5 394.4 401.8 263.8 191.9 159.5 163.2 85.6 79.1 65.9 64.7 54.1 50.9 46.1 16.1 49.7 29.1 27.2 16 36.8 17.9 17 17 15.4 10.6 5.1
Stockholders' Equity 736.9 724.9 657.6 631.5 608.3 584.5 583.3 551.2 536.6 522.1 483.2 478.7 467.4 441.4 416.3 429.0 436.5 456.6 452.3 451.9 441.2 441.6 431.9 425.2 418.4 416.6 407.2 400.1 383.7 375.2 379.5 374.9 368.3 365.9 362.5 357.5 348.1 340.8 349.5 344.6 338.6 139.0 138.2 140.1 181.7 169.3 177.7 134.3 133.1 130.2 83.5 81.5 79.8 77.6 67.4 40.4 39.8 31.9 30.3 29.2 28.4 28 27.5 27.1 27 26.7 26.6 12 12.3
Cash Flow
Operating Cash Flow 28.3 5.6 23.1 (7.8) (3.0) 59.9 (8.1) 9.1 40.2 (7.3) 36.4 19.4 18.1 37.1 32.8 22.1 27.9 45.4 (3.0) 23.6 (1.4) 21.6 28.7 (2.6) (9.8) 24.6 6.2 11.5 2.4 26.8 13.5 8.3 13.0 13.9 9.1 7.7 8.0 12.4 6.4 5.7 10.1 6.5 6.5 3.8 4.1 3.0 4.2 3.5 2.7 3.2 13.5 (6.6) 0.8 2.3 0.8 1.1 (2.7) 1.7 2.6 2.1 1.6 1.1 0.5 0.8 0.7 0.6 0.6 0.0 (0.8)
Capital Expenditure (0.9) (0.2) (2.6) (2.4) (1.5) (0.6) (5.6) (0.9) (1.5) (0.5) (1.5) (2.2) (2.5) (0.9) (1.8) (0.1) (0.3) (1.4) (0.7) (2.0) (1.6) (1.8) (2.8) (1.3) (3.2) (4.4) (3.8) (2.6) (2.7) (1.2) (2.0) (1.7) (1.4) (1.2) (2.0) (1.0) (1.1) (1.0) (0.7) (0.3) 0 (2.3) (3.0) (2.4) (2.2) (1.6) (0.4) (1.4) (2.0) (0.6) (1.1) (0.6) (1.2) (0.6) (1.4) (2.3) (1.6) (0.2) (0.8) (0.1) (0.1) 0 (0.4) (1.1) (0.4) (0.5) (0.1) (0.1) (0.4)
Free Cash Flow 27.4 5.4 20.5 (10.2) (4.5) 59.3 (13.7) 8.2 38.8 (7.8) 35.0 17.2 15.6 36.2 31.0 22.0 27.6 44.1 (3.7) 21.6 (3.0) 19.8 25.9 (3.9) (12.9) 20.3 2.5 8.8 (0.3) 25.6 11.6 6.6 11.6 12.7 7.0 6.7 6.8 11.5 5.6 5.4 10.1 4.2 3.5 1.4 1.9 1.5 3.9 2.1 0.7 2.6 12.4 (7.3) (0.3) 1.7 (0.6) (1.2) (4.3) 1.5 1.9 2.0 1.6 1.1 0.1 (0.3) 0.3 0.1 0.5 (0.1) (1.2)