MC - Moelis & Company
Price:
--
--
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CONSENSUS:
Hold
DETAILS
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PRICE TARGET:
$73.40
DETAILS
HIGH:
$83.00
LOW:
$58.00
MEDIAN:
$78.00
CONSENSUS:
$73.40
UPSIDE:
11.62%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||
| Revenue | 1,516.8 | 1,194.5 | 854.7 | 985.3 | 1,540.6 | 943.3 | 746.5 | 885.8 | 684.6 | 613.4 | 551.9 | 518.8 | 411.4 | 385.9 | 268.0 |
| Cost of Revenue | 11.9 | 0 | 714.7 | 618.2 | 913.9 | 560.8 | 488.4 | 513.9 | 401.4 | 360.9 | 311.2 | 377.2 | 264.9 | 274.9 | 200.4 |
| Gross Profit | 1,504.9 | 1,194.5 | 140.0 | 367.1 | 626.7 | 382.5 | 258.1 | 372.0 | 283.2 | 252.5 | 240.6 | 141.5 | 146.4 | 110.9 | 67.7 |
| Operating Expenses | |||||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 29.8 | 27.1 | 107.4 | 84.5 | 83.7 | 80.6 | 71.0 | 74.0 | 62.2 | 53.3 | 54.2 | 48.7 | 41.0 | 39.7 | 39.3 |
| Other Expenses | 1,201.3 | 994.5 | 73.0 | 66.5 | 47.1 | 36.2 | 72.5 | 71.2 | 56.7 | 38.1 | 48.9 | 45.1 | 35.3 | 33.2 | 39.2 |
| Operating Expenses | 1,231.1 | 1,021.6 | 180.4 | 151.0 | 130.8 | 116.8 | 143.6 | 145.2 | 118.9 | 91.4 | 103.1 | 93.8 | 76.3 | 72.9 | 78.5 |
| Operating Income | |||||||||||||||
| Operating Income | 273.9 | 172.9 | (40.4) | 216.1 | 495.9 | 265.7 | 114.5 | 226.8 | 164.3 | 161.1 | 137.5 | 47.7 | 70.1 | 38.0 | (10.9) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0.4 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profitability | |||||||||||||||
| EBITDA | 339.4 | 183.4 | (32.0) | 224.1 | 503.2 | 270.4 | 119.5 | 231.4 | 167.8 | 164.3 | 140.1 | 50.0 | 72.4 | 40.6 | (8.8) |
| EBIT | 327.5 | 172.9 | (40.4) | 216.1 | 495.9 | 265.7 | 114.5 | 226.8 | 164.3 | 161.1 | 137.5 | 47.7 | 70.1 | 38.0 | (10.9) |
| Income Before Tax | 327.5 | 196.0 | (29.1) | 216.3 | 536.3 | 270.1 | 147.5 | 238.5 | 350.4 | 166.7 | 144.1 | 46.3 | 73.0 | 37.7 | (4.9) |
| Income Tax Expense | 67.9 | 44.5 | (1.6) | 47.6 | 113.3 | 51.7 | 11.8 | 30.4 | 223.8 | 24.8 | 23.8 | 13.7 | 2.8 | 2.5 | 3.6 |
| Net Income | 233.0 | 136.0 | (24.7) | 150.3 | 365.2 | 178.8 | 105.1 | 140.7 | 29.4 | 38.4 | 33.1 | (3.0) | 70.2 | 35.2 | (8.5) |
| Per Share Data | |||||||||||||||
| EPS (Basic) | 3.11 | 1.89 | -0.36 | 2.29 | 5.79 | 3.16 | 2.09 | 2.78 | 0.96 | 1.83 | 1.65 | -0.19 | 9.12 | 4.57 | -1.11 |
| EPS (Diluted) | 2.94 | 1.78 | -0.36 | 2.14 | 5.34 | 2.95 | 1.89 | 2.78 | 0.78 | 1.58 | 1.55 | -0.19 | 9.12 | 4.57 | -1.11 |
| Shares Outstanding | 75.0 | 71.9 | 68.5 | 65.8 | 63.1 | 56.6 | 50.4 | 50.7 | 30.6 | 20.9 | 20.0 | 15.9 | 7.7 | 7.7 | 7.7 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 508.6 | 412.5 | 186.4 | 206.8 | 520.2 | 202.5 | 167.8 | 261.1 | 213.2 | 318.9 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 110.9 | 73.7 | 63.6 | 56.3 | 69.6 | 101.2 | 55.8 | 68.6 | 61.6 | 30.5 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 0.8 | 0.7 | 0.8 | 0.7 | 0.8 | 0.8 | 0.8 | 0.7 | 0.7 | 0.7 |
| Total Current Assets | 620.3 | 486.9 | 250.8 | 263.9 | 590.6 | 304.5 | 224.4 | 330.4 | 275.5 | 350.0 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 306.7 | 245.8 | 235.8 | 209.5 | 223.2 | 227.0 | 204.8 | 12.7 | 10.5 | 8.4 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 402.9 | 234 | 167.8 |
| Intangible Assets | 0.8 | 0 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 369.1 | 184.6 | 210.4 | 265.2 | 263.3 | 211.8 | 213.2 | 143.9 | 155.0 | 54.3 |
| Other Non-Current Assets | 73.2 | 51.1 | 44.4 | 48.6 | 30.4 | 28.7 | 28.8 | (378.4) | (209.8) | (149.5) |
| Total Non-Current Assets | 1,192.4 | 892.0 | 928.9 | 953.0 | 965.1 | 891.9 | 847.3 | 584.0 | 423.6 | 248.8 |
| Total Assets | 1,812.7 | 1,378.9 | 1,179.8 | 1,216.9 | 1,555.7 | 1,196.4 | 1,071.7 | 914.4 | 699.1 | 598.8 |
| Current Liabilities | ||||||||||
| Account Payables | 43.6 | 33.6 | 32.6 | 11.9 | 69.9 | 25.0 | 16.1 | 26.6 | 18.3 | 14.3 |
| Short-Term Debt | 28.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 9.1 | 5.6 | 4.6 | 7.7 | 4.5 | 2.7 | 3.0 | 7.1 | 4.9 | 3.0 |
| Other Current Liabilities | (793.2) | 0 | 0 | 0 | 0 | 0 | 0 | (6.8) | (340.6) | (334.9) |
| Total Current Liabilities | 28.9 | 676.3 | 601.6 | 565.2 | 885.5 | 555.4 | 480.2 | 535.8 | 345.6 | 337.9 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 72.0 | 0 | 0 | 0 | 0 | 0 | 0 | (7.1) | (4.9) | (3.0) |
| Other Non-Current Liabilities | 784.1 | 0 | 0 | 0 | 0 | (2.7) | (3.0) | (7.1) | 349.9 | 344.4 |
| Total Non-Current Liabilities | 1,103.4 | 223.2 | 215.7 | 192.8 | 191.9 | 196.6 | 197.6 | 6.8 | 9.2 | 9.5 |
| Total Liabilities | 1,132.3 | 899.6 | 817.3 | 757.9 | 1,077.4 | 752.0 | 677.9 | 542.6 | 354.8 | 347.4 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.9 | 0.9 | 0.8 | 0.8 | 0.7 | 0.7 | 0.6 | 0.6 | 0.5 | 0.5 |
| Retained Earnings | (801.2) | (821.6) | (767.6) | (560.7) | (535.3) | (420.7) | (324.2) | (237.8) | (139.9) | (68.2) |
| Accumulated Other Comprehensive Income | (7.1) | (6.7) | (3.9) | (4.5) | (0.6) | (0.2) | 1.4 | 0.3 | 0.4 | (0.5) |
| Total Stockholders' Equity | 568.4 | 441.6 | 352.1 | 444.5 | 489.1 | 479.9 | 442.8 | 404.4 | 324.9 | 211.8 |
| Total Liabilities & Equity | 1,812.7 | 1,378.9 | 1,179.8 | 1,216.9 | 1,555.7 | 1,196.4 | 1,071.7 | 914.4 | 699.1 | 598.8 |
| Debt Metrics | ||||||||||
| Total Debt | 267.2 | 223.2 | 215.7 | 192.8 | 191.9 | 196.6 | 197.6 | 24.5 | 24.2 | 18.3 |
| Net Debt | (241.4) | (189.2) | 29.3 | (14.0) | (328.3) | (5.9) | 29.8 | (236.6) | (189.0) | (300.6) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 233.0 | 151.5 | (24.7) | 168.7 | 423.0 | 218.4 | 135.7 | 208.0 | 126.5 | 141.9 |
| Depreciation & Amortization | 12.1 | 10.4 | 8.3 | 8.0 | 7.2 | 4.7 | 5.0 | 4.6 | 3.5 | 3.2 |
| Stock-Based Compensation | 0 | 161.4 | 158.2 | 128.9 | 167.9 | 133.6 | 124.2 | 123.0 | 96.3 | 77.0 |
| Change in Working Capital | 53.8 | 77.7 | 34.0 | (314.1) | 346.9 | 31.5 | (36.4) | 48.8 | (21.7) | 12.1 |
| Other Non-Cash Items | 277.4 | (8.7) | (17.4) | 14.8 | (31.0) | 2.0 | (22.8) | (0.1) | (163.2) | (1.7) |
| Operating Cash Flow | 576.3 | 427.5 | 158.5 | 33.0 | 937.0 | 429.2 | 209.3 | 390.9 | 233.2 | 231.5 |
| Investing Activities | ||||||||||
| Capital Expenditure | (36.3) | (12.1) | (16.7) | (6.0) | (16.4) | (40.7) | (6.5) | (6.9) | (5.6) | (2.9) |
| Acquisitions | 0 | 0 | 0 | 0 | 29.2 | 0 | 46.9 | 0 | 0 | 0 |
| Purchases of Investments | (524.8) | (169.5) | (210.6) | (334.7) | (486.1) | (390.6) | (212.4) | (184.0) | (179.8) | (120.9) |
| Sales/Maturities of Investments | 346.6 | 205.2 | 275.8 | 332.5 | 456.3 | 391.5 | 120.1 | 199.8 | 115.6 | 126.0 |
| Other Investing Activities | 18.5 | (6.6) | 0 | (3) | 0.1 | (0.2) | 0 | 0.4 | 0.4 | (0.8) |
| Investing Cash Flow | (196.0) | 17.1 | 48.6 | (11.2) | (17.0) | (40.0) | (51.9) | 9.3 | (69.4) | 1.4 |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | (74.6) | (10.8) | (47.0) | (147.5) | (104.2) | (44.3) | (51.2) | (33.8) | (12.5) | (3.3) |
| Dividends Paid | (208.7) | (184.2) | (182.2) | (174.7) | (480.0) | (282.9) | (209.2) | (313.8) | (255.7) | (154.7) |
| Other Financing Activities | (0.6) | (20.1) | (0.0) | (4.7) | (18.4) | (24.5) | 7.7 | (4.1) | (4.3) | 0.1 |
| Financing Cash Flow | (283.9) | (215.1) | (229.2) | (326.9) | (602.5) | (351.8) | (252.7) | (351.7) | (272.5) | (157.9) |
| Cash Position | ||||||||||
| Net Change in Cash | 96.2 | 226.0 | (20.3) | (313.5) | 317.7 | 34.7 | (93.2) | 47.9 | (105.7) | 70.9 |
| Cash at Beginning | 413.2 | 187.2 | 207.5 | 521.0 | 203.3 | 168.6 | 261.8 | 213.9 | 318.9 | 248.0 |
| Cash at End | 509.4 | 413.2 | 187.2 | 207.5 | 521.0 | 203.3 | 168.6 | 261.8 | 213.2 | 318.9 |
| Free Cash Flow | 540.0 | 415.4 | 141.8 | 27.0 | 920.6 | 388.6 | 202.8 | 384.0 | 227.5 | 228.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||
| Revenue | 1,516.8 | 1,194.5 | 854.7 | 985.3 | 1,540.6 | 943.3 | 746.5 | 885.8 | 684.6 | 613.4 | 551.9 | 518.8 | 411.4 | 385.9 | 268.0 |
| Gross Profit | 1,504.9 | 1,194.5 | 140.0 | 367.1 | 626.7 | 382.5 | 258.1 | 372.0 | 283.2 | 252.5 | 240.6 | 141.5 | 146.4 | 110.9 | 67.7 |
| Operating Income | 273.9 | 172.9 | (40.4) | 216.1 | 495.9 | 265.7 | 114.5 | 226.8 | 164.3 | 161.1 | 137.5 | 47.7 | 70.1 | 38.0 | (10.9) |
| Net Income | 233.0 | 136.0 | (24.7) | 150.3 | 365.2 | 178.8 | 105.1 | 140.7 | 29.4 | 38.4 | 33.1 | (3.0) | 70.2 | 35.2 | (8.5) |
| EPS (Diluted) | 2.94 | 1.78 | -0.36 | 2.14 | 5.34 | 2.95 | 1.89 | 2.78 | 0.78 | 1.58 | 1.55 | -0.19 | 9.12 | 4.57 | -1.11 |
| Balance Sheet | |||||||||||||||
| Cash & Equivalents | 508.6 | 412.5 | 186.4 | 206.8 | 520.2 | 202.5 | 167.8 | 261.1 | 213.2 | 318.9 | |||||
| Total Assets | 1,812.7 | 1,378.9 | 1,179.8 | 1,216.9 | 1,555.7 | 1,196.4 | 1,071.7 | 914.4 | 699.1 | 598.8 | |||||
| Total Debt | 267.2 | 223.2 | 215.7 | 192.8 | 191.9 | 196.6 | 197.6 | 24.5 | 24.2 | 18.3 | |||||
| Stockholders' Equity | 568.4 | 441.6 | 352.1 | 444.5 | 489.1 | 479.9 | 442.8 | 404.4 | 324.9 | 211.8 | |||||
| Cash Flow | |||||||||||||||
| Operating Cash Flow | 576.3 | 427.5 | 158.5 | 33.0 | 937.0 | 429.2 | 209.3 | 390.9 | 233.2 | 231.5 | |||||
| Capital Expenditure | (36.3) | (12.1) | (16.7) | (6.0) | (16.4) | (40.7) | (6.5) | (6.9) | (5.6) | (2.9) | |||||
| Free Cash Flow | 540.0 | 415.4 | 141.8 | 27.0 | 920.6 | 388.6 | 202.8 | 384.0 | 227.5 | 228.6 | |||||