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STRONG
BUY
0
BUY 18
HOLD 17
SELL 2
STRONG
SELL
0
| PRICE TARGET: $45.14 DETAILS
HIGH: $55.00
LOW: $35.00
MEDIAN: $48.00
CONSENSUS: $45.14
DOWNSIDE: 2.72%
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
Revenue
Revenue 17,537.7 17,240.5 16,164.2 13,127.5 9,680.1 4,917.1 12,899.7 11,763.1 10,797.5 9,455.1 9,190.1 10,082.0 9,809.7 9,160.8 7,849.3 6,019.2 5,978.6 7,208.8 7,691.6 7,176.0 6,482.0 4,238.1 3,908.8 4,031.3 4,009.6 3,518.9 1,391.7 773.9 827.6 804.8 721.8 742.2 57.8 50 146.9 176.5 213 207.9
Cost of Revenue 9,747.6 9,393.5 8,553.6 6,653.0 5,030.6 3,207.8 7,603.5 6,918.9 6,193.1 5,495.7 5,625.4 6,368.7 6,258.7 5,921.3 5,026.4 3,757.5 3,539.3 4,143.7 4,139.1 3,813.4 3,547.1 2,292.9 2,162.0 2,195.0 2,207.3 1,675.5 590.7 409.3 405.2 403.6 386.1 405.3 104.9 34.7 100.7 139.2 154.4 136.3
Gross Profit 7,790.1 7,847.0 7,610.7 6,474.5 4,649.5 1,709.4 5,296.2 4,844.2 4,604.4 3,959.5 3,564.7 3,713.3 3,550.9 3,239.6 2,823.0 2,261.7 2,439.3 3,065.1 3,552.5 3,362.6 2,934.9 1,945.2 1,746.8 1,836.3 1,802.3 1,843.4 801 364.6 422.4 401.2 335.7 336.9 (47.1) 15.3 46.2 37.3 58.6 71.6
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
SG&A Expenses 4,877.5 4,825.3 4,700.7 4,226.6 2,507.2 2,122.3 2,101.2 1,764.6 1,559.6 1,378.5 1,309.1 1,318.7 1,278.5 1,239.8 1,182.5 1,128.8 2,625.7 2,622.0 1,426.4 1,227.8 1,073.2 661.8 687.0 646.6 665.4 524.1 308.6 213.2 166 205.9 167.4 158.8 64.8 22.3 45.5 55.7 37.7 53.3
Other Expenses 1,910.8 1,531.2 1,018.5 808.5 (136.4) 229.5 (745.2) 1,610.1 1,332.3 500.3 2,411.8 1,071.0 1,135.2 1,878.4 (2,416.7) 2,291.8 689.3 778.2 (737.8) 376.5 408.7 268.7 334.8 347.1 408.6 396.9 126.6 78.1 65.4 64.5 58.7 48.3 11.3 11.6 15.6 15.8 11.7 9.8
Operating Expenses 6,788.4 6,356.5 5,719.2 5,035.1 2,370.8 2,351.8 1,356.0 3,513.3 3,028.4 2,681.0 2,474.9 2,412.6 2,357.7 2,404.6 2,352.9 3,342.2 3,314.9 3,194.3 688.6 1,603.3 1,577.8 988.7 1,027.2 1,086.5 1,150.7 1,305.7 591.2 233.1 202.8 214.6 226.1 207.1 76.1 33.9 61.1 71.5 49.4 63.1
Operating Income
Operating Income 1,001.8 1,490.5 1,891.5 1,439.4 2,278.7 (642.4) 3,940.2 1,469.5 1,712.5 2,079.8 (156.2) 1,323.5 1,111.5 80.5 4,057.1 (1,158.9) (963.9) (129.6) 2,863.9 1,758.2 1,357.2 950.9 713.1 766.8 627.9 537.7 209.8 131.5 219.6 186.6 109.6 129.8 (123.2) (18.6) (14.9) (34.2) 9.2 8.5
Interest Expense 419.0 443.2 460.3 595.0 799.6 676.4 847.9 769.5 668.7 694.8 797.6 817.1 857.3 1,116.4 1,086.8 1,113.6 775.4 609.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 1,717.6 2,391.4 2,397.2 4,980.8 3,412.0 (779.8) 4,999.3 2,509.0 2,569.4 2,803.5 571.2 2,116.5 2,042.4 309.8 4,735.6 (469.0) (547.9) 718.5 3,568.6 2,410.1 1,870.3 1,307.7 1,155.1 1,156.7 1,054.3 862.9 338.4 209.7 256.4 193.9 168.3 178.1 (111.9) (7) 0.7 (18.4) 20.9 18.3
EBIT 699.8 1,560.3 1,583.1 1,498.8 2,261.4 (1,990.3) 3,694.7 1,330.9 1,576.0 1,952.4 (248.7) 1,300.7 919.5 (617.9) 3,918.5 (1,102.4) (1,237.2) (59.7) 2,863.9 1,759.3 1,330.0 938.2 706.3 729.5 633.1 561.2 209.9 131.6 191 129.4 109.6 129.8 (123.2) (18.6) (14.9) (34.2) 9.2 8.5
Income Before Tax 388.0 1,117.1 1,472.8 903.8 1,461.8 (1,511.5) 2,846.7 634.0 960.8 1,259.2 (1,046.2) 410.9 87.8 (1,734.2) 2,831.6 (2,216.0) (2,012.6) (669.0) 2,158.4 977.9 678.9 555.8 353.7 466.3 277.6 275.0 150.1 109.5 180.3 99.1 105.8 135.6 (111) (2.1) (12.2) (34.7) 39.7 6.6
Income Tax Expense (44.1) 52.5 157.8 697.1 253.4 (191.6) 632.3 50.1 (1,127.4) 22.3 (6.6) 283.7 31.3 (117.3) (403.3) (778.6) (720.9) 186.3 757.9 341.9 235.6 206.0 116.6 173.6 107.0 108.9 55 40.6 65 24.6 63 55.3 (5.6) 1.5 0 (11.1) 14.1 2.3
Net Income 206.2 746.6 1,142.2 1,473.1 1,254.4 (1,032.7) 2,049.1 466.8 1,952.1 1,101.4 (447.7) (149.9) (156.6) (1,767.7) 3,114.6 (1,437.4) (1,291.7) (855.3) 1,584.4 648.3 443.3 412.3 243.7 292.4 169.8 160.7 86 68.9 111.1 43.7 46.6 74.5 (117.6) (20.1) (12.2) (23.6) 25.6 4.3
Per Share Data
EPS (Basic) 0.77 2.42 3.22 0.51 2.44 -2.67 3.90 0.86 3.38 1.94 -0.82 -0.31 -0.32 -3.62 6.37 -3.19 -3.41 -3.06 5.52 2.29 1.56 1.48 0.82 0.93 0.53 0.56 0.37 0.31 0.48 0.21 0.24 0.38 -0.62 -0.12 -0.10 -0.23 0.31 0.06
EPS (Diluted) 0.76 2.40 3.19 0.50 2.41 -2.67 3.88 0.85 3.34 1.92 -0.82 -0.31 -0.32 -3.61 5.62 -3.19 -3.41 -3.06 5.31 2.22 1.50 1.43 0.80 0.92 0.53 0.55 0.36 0.31 0.47 0.20 0.24 0.38 -0.62 -0.12 -0.10 -0.23 0.31 0.06
Shares Outstanding 264.9 307.4 354.9 409.2 481.9 494.2 524.2 544.3 572.3 568.1 542.9 489.8 489.4 488.3 488.7 450.4 378.5 279.8 286.8 283.1 279.1 278.6 297.2 315.6 320.4 289.6 232.6 222.4 231.5 208.1 194.2 196.0 189.7 167.5 122 100.4 83.9 71.7
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
Current Assets
Cash & Cash Equivalents 2,063.0 2,415.5 2,927.8 5,911.9 4,703.1 5,101.6 2,329.6 1,526.8 1,500.0 1,446.6 1,670.3 1,713.7 1,803.7 1,543.5 1,865.9 499.0 2,056.2 295.6 416.1 452.9 377.9 435.1 279.6 211.2 209.0 228.0 121.5 82 34.6 61.4 110 75.9 211.3 580 209.8 6.2 98.1 15.5
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 570 0 0 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 1,343.1 1,328.9 1,070.6 925.2 857.8 559.9 1,374.9 685.6 584.8 542.9 496.6 488.0 488.2 443.7 491.7 497.9 753.0 368.1 412.9 381.5 352.7 204.2 149.4 139.9 156.5 236.7 83.1 64.3 79 80.5 78.6 96.1 30.5 0.6 11.5 29.6 27.6 29.5
Inventory 124.5 140.6 141.7 126.1 96.4 88.3 102.9 110.8 102.3 97.7 104.2 104.0 107.9 107.6 112.7 96.4 101.8 111.5 126.9 118.5 111.8 70.3 65.2 68.0 78.0 86.3 15.2 11.1 16.5 13.5 11 17.2 12.7 0.2 0 1.9 1.7 2
Other Current Assets 801.8 478.6 770.5 1,191.6 500 0 0 0 0 0 0 0 81.0 179.4 91.1 110.1 38.5 602.1 63.5 437.4 65.5 28.9 275.4 84.3 148.8 244.7 50.0 45.8 40.7 71.3 13.1 14.3 11.7 1.2 1.9 2.9 2.6 2.8
Total Current Assets 4,332.4 4,363.6 4,910.6 8,154.7 6,416.2 5,950.7 4,007.7 2,526.8 2,376.4 2,229.6 2,408.7 3,027.2 2,719.4 2,507.1 2,812.7 1,455.6 3,053.5 1,533.0 1,125.8 1,514.8 1,018.6 820.2 859.2 589.8 661.9 795.6 269.9 203.2 170.8 226.7 212.7 203.5 266.2 582 223.2 40.6 130 49.8
Non-Current Assets
Property, Plant & Equipment 29,308.3 29,728.4 29,477.0 29,754.9 25,928.3 22,918.8 22,678.4 20,729.9 19,635.5 18,425.0 15,371.8 14,441.5 14,055.2 14,194.7 14,866.6 14,554.4 15,070.0 16,289.2 16,870.9 17,430.3 16,541.7 8,914.1 8,681.3 8,762.4 8,891.6 9,064.2 2,384.8 1,327.7 1,032.7 884.8 903.9 880 867.3 449.7 244.4 325 147.6 220.7
Goodwill 4,902.0 5,145.0 5,165.7 5,029.3 3,481.0 2,091.3 2,084.6 1,821.4 1,806.5 1,817.1 1,430.8 2,897.1 2,897.4 2,902.8 2,896.6 86.4 86.4 86.4 1,262.9 1,300.7 1,314.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 1,356.7 1,715.4 1,724.6 1,551.3 3,616.4 3,643.7 3,826.5 3,944.5 3,878.0 4,087.7 4,164.8 4,364.9 4,511.9 4,737.8 5,048.1 342.8 344.3 4,642.9 362.1 367.2 377.5 233.3 267.7 256.1 103.1 54.3 31.7 37.6 38.6 39.6 40.7 1.1 1.2 1.2 1.2 1.6 1.6 2
Long-Term Investments 536.1 380.6 240.8 173.0 967.0 1,447.0 822.4 732.9 1,033.3 1,220.4 1,491.5 1,559.0 1,469.3 1,444.5 1,635.6 1,923.2 3,611.8 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 848.5 859.0 849.9 1,029.1 490.2 443.4 456.8 455.3 430.4 393.4 347.6 304.2 431.4 497.8 506.6 598.7 352.4 723.3 3,106.0 1,533.2 1,447.1 1,147.3 1,003.1 896.6 840.8 820.4 57.1 200.5 156.3 136.6 124.9 56.2 25.4 30.6 4.3 8.7 13.2 4.8
Total Non-Current Assets 37,041.4 37,868.0 37,458.0 37,537.5 34,482.9 30,544.3 29,868.7 27,683.9 26,783.7 25,943.7 22,806.4 23,566.8 23,365.2 23,777.6 24,953.6 17,505.4 19,464.7 21,741.7 21,601.9 20,631.5 19,680.8 10,294.8 9,952.1 9,915.2 9,835.5 9,939.0 2,473.5 1,565.8 1,227.6 1,061 1,069.5 937.3 893.9 481.5 249.9 335.3 162.4 227.5
Total Assets 41,373.8 42,231.6 42,368.5 45,692.2 40,899.1 36,494.9 33,876.4 30,210.7 29,160.0 28,173.3 25,215.2 26,593.9 26,084.6 26,284.7 27,766.3 18,961.0 22,518.2 23,274.7 22,727.7 22,146.2 20,699.4 11,115.0 10,811.3 10,505.0 10,497.4 10,734.6 2,743.5 1,769 1,398.4 1,287.7 1,282.2 1,140.8 1,160.1 1,063.5 473.1 375.9 292.4 277.3
Current Liabilities
Account Payables 421.5 412.7 461.7 369.8 286.2 142.5 235.4 302.6 255.0 250.5 182.0 164.3 145.0 199.6 171.0 167.1 173.7 142.7 220.5 416.6 265.6 198.1 187.0 70.0 75.8 65.3 38.0 23.9 53.9 33 20.7 25.2 14.2 4.3 6.2 4 4.5 0
Short-Term Debt 0 172.2 60.2 1,286.5 1,000 138.8 122.2 43.4 158.0 8.4 328.4 1,245.3 188.5 206.7 203.4 0 1,079.8 1,047.6 0 0 0.0 0.0 9.0 7.0 168.1 525.4 13.0 15.2 16.7 15.7 2.2 2.1 3.4 32.6 0.3 0.5 0.3 19.7
Deferred Revenue 0 596.4 566.2 612.2 489.4 256.2 367.2 563.9 453.6 363.4 232.4 225.6 229.7 233.6 209.5 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 3,090.6 (172.2) (60.2) 539.8 0 (106.7) 612.8 0 0 0 0 62.1 (188.5) (206.7) (203.4) 0 0 75.4 360.6 40.3 125.5 5.0 23.5 0.6 0 642.5 239.1 145.4 110.9 142.1 96.5 84.1 148 20 12.4 19.9 18.3 26.9
Total Current Liabilities 3,512.1 3,351.7 3,126.1 4,515.9 3,442.3 1,856.6 3,191.4 2,948.9 3,138.3 2,293.4 2,238.0 3,407.9 2,215.3 1,925.7 1,744.8 1,246.2 2,383.6 3,002.6 1,724.7 1,648.1 1,534.6 928.0 866.6 750.1 887.9 1,233.2 290.1 184.5 181.5 190.8 119.4 111.4 165.6 56.9 18.9 24.4 23.1 46.6
Non-Current Liabilities
Long-Term Debt 31,192.9 6,362.1 6,343.8 7,432.8 11,770.8 12,376.7 11,168.9 15,088.0 12,751.1 12,979.2 12,368.3 12,805.3 13,447.2 13,589.3 13,470.2 12,047.7 12,976.0 12,416.6 11,175.2 12,994.9 12,355.4 5,458.8 5,521.9 5,213.8 5,295.3 5,355.4 1,317.2 537.6 51.7 78.3 561.5 485.6 495.5 473.2 0.4 83.2 0.2 24.4
Deferred Tax Liabilities 2,617.1 2,811.7 2,861.0 2,969.4 2,439.4 2,153.0 2,106.5 1,342.5 1,295.4 2,551.2 2,680.6 2,621.9 2,420.0 2,473.9 2,502.1 2,469.3 3,031.3 3,441.2 3,416.7 3,441.2 3,378.4 1,802.0 1,765.4 1,769.4 1,746.3 1,730.2 108.7 77.2 58.8 38.5 8.1 5.9 6.5 6.5 6.5 0 2.6 0
Other Non-Current Liabilities (24,187.3) 910.1 542.7 256.3 319.9 472.1 363.6 259.2 284.4 326.0 157.7 130.6 141.6 179.9 0 0 0 440.0 350.4 212.6 196.0 154.5 123.5 107.6 57.2 33.4 4.2 5.3 4.8 6.7 8.7 8.5 10.7 0.1 0.4 9.9 1.4 1.7
Total Non-Current Liabilities 34,585.4 35,160.0 34,875.0 35,807.8 26,332.5 23,391.9 17,917.0 16,689.8 14,330.8 15,856.4 15,206.5 15,557.7 16,008.8 16,243.1 16,139.3 14,716.3 16,264.2 16,297.8 14,942.3 16,648.6 15,929.8 7,415.3 7,410.9 7,090.8 7,098.8 7,119.0 1,430.2 620.1 115.3 123.5 578.3 500 512.7 479.8 7.3 93.1 4.2 26.1
Total Liabilities 38,097.5 38,511.7 38,001.0 40,323.7 29,774.8 25,248.5 21,108.4 19,638.7 17,469.1 18,149.8 17,444.5 18,965.6 18,224.1 18,168.7 17,884.1 15,962.5 18,647.8 19,300.4 16,667.0 18,296.7 17,464.3 8,343.3 8,277.5 7,840.8 7,986.7 8,352.2 1,720.3 804.6 296.8 314.3 697.7 611.4 678.3 536.7 26.2 117.5 27.3 72.7
Stockholders' Equity
Common Stock 2.6 2.9 3.3 3.8 4.5 4.9 5.0 5.3 5.7 5.7 5.6 4.9 4.9 4.9 4.9 4.9 4.4 3.7 3.7 3.6 3.6 1.7 1.7 1.7 1.6 1.6 1.4 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings 2,106.8 3,081.8 3,664.0 4,794.2 4,340.6 3,091.0 4,201.3 2,423.5 2,217.3 545.8 (555.6) (107.9) 42.0 213.7 1,981.4 (1,066.9) 370.5 3,365.1 4,220.4 2,636.0 1,987.7 1,546.2 1,133.9 890.2 597.8 428.0 267.2 193.2 124.2 13.2 (30.5) (77.1) (151.6) (34) (14) (1.7) 21.8 (5.6)
Accumulated Other Comprehensive Income 320.5 (61.2) 143.9 33.5 (24.6) (30.7) (10.2) (8.6) (3.6) 15.1 14.0 13.0 12.5 14.3 6.0 (0.3) (1.9) (56.9) 0.6 0.4 (4.4) (12.0) (12.8) (35.9) (9.2) (5.3) (1.1) 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 2,429.9 3,023.5 3,811.2 4,831.5 6,070.6 6,504.7 7,727.3 6,512.3 7,577.1 6,220.2 5,119.9 4,090.9 4,216.1 4,365.5 6,086.6 2,998.5 3,870.4 3,974.4 6,060.7 3,849.5 3,235.1 2,771.7 2,533.8 2,664.1 2,510.7 2,382.4 1,023.2 964.4 1,101.6 973.4 584.5 529.4 481.8 526.8 446.9 258.4 265.1 204.6
Total Liabilities & Equity 41,373.8 42,231.6 42,368.5 45,692.2 40,899.1 36,494.9 33,876.4 30,210.7 29,160.0 28,173.3 25,215.2 26,593.9 26,084.6 26,284.7 27,766.3 18,961.0 22,518.2 23,274.7 22,727.7 22,146.2 20,699.4 11,115.0 10,811.3 10,505.0 10,497.4 10,734.6 2,743.5 1,769 1,398.4 1,287.7 1,282.2 1,140.8 1,160.1 1,063.5 473.1 375.9 292.4 277.3
Debt Metrics
Total Debt 56,155.6 31,853.7 31,615.6 33,995.0 24,692.6 21,017.7 15,664.6 15,131.4 12,909.1 12,987.6 12,696.8 14,050.6 13,635.8 13,796.0 13,840.6 12,246.9 14,312.7 13,464.2 11,175.2 12,994.9 12,355.4 5,458.9 5,530.9 5,220.7 5,463.4 5,880.8 1,330.2 552.8 68.4 94 563.7 487.7 498.9 505.8 0.7 83.7 0.5 44.1
Net Debt 54,092.6 29,438.2 28,687.8 28,083.1 19,989.6 15,916.0 13,335.0 13,604.7 11,409.1 11,541.0 11,026.4 12,336.9 11,832.1 12,252.5 11,974.7 11,748.0 12,256.5 13,168.5 10,759.1 12,541.9 11,977.5 5,023.7 5,251.3 5,009.5 5,254.4 5,652.9 1,208.7 470.8 33.8 32.6 453.7 411.8 287.6 (74.2) (209.1) 77.5 (97.6) 28.6
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 211.1 1,064.6 1,144.3 1,441.2 1,208.4 (1,319.9) 2,214.4 583.9 2,088.2 1,236.9 (1,039.6) 127.2 56.5 (1,616.9) 3,234.9 (1,437.4) (1,291.7) (855.3) 1,584.4 648.3 443.3 412.3 243.7 292.4 169.8 166.2 95.1 68.9 115.3 74.5 46.6 74.5 (117.6) (20.1) (12.2) (23.6) 25.6
Depreciation & Amortization 1,017.8 831.1 814.1 3,919.7 1,150.6 1,210.6 1,304.6 1,178.0 993.5 849.5 819.9 815.8 849.2 927.7 817.1 633.4 689.3 788.9 704.6 650.8 593.9 434.3 448.8 427.1 421.2 324.4 128.8 78.5 65.4 64.5 58.7 48.3 11.3 11.6 15.6 15.8 11.7
Stock-Based Compensation 0 80.2 0 0 65.2 107.0 88.8 70.2 62.5 55.5 42.9 37.3 32.3 39.6 39.7 35.0 36.6 36.3 45.7 73.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (112.5) (237.4) 192.2 113.2 142.5 (624.5) (245.7) (130.4) 291.7 261.6 (246.5) (348.0) 23.2 102.8 68.8 198.9 (429.3) (492.7) 268.4 (180.5) 19.1 31.3 (27.5) (49.3) 15.1 51.7 (8.5) (4.4) (50.2) 20.1 (46.4) (64.6) (4.1) 20.5 10.9 (23.4) (14.6)
Other Non-Cash Items 1,865.9 709.1 665.8 (4,203.4) (1,435.2) (884.5) (2,146.9) (25.9) 30.0 (788.9) 1,432.1 166.6 290.3 1,573.5 (3,091.0) 1,708.2 1,927.8 1,196.3 (1,641.5) (34.5) (55.9) (15.5) (5.6) 66.9 122.0 239.6 47 14.2 5.4 0.2 (0.1) 36.3 72.8 0.3 7.2 0.2 (24.7)
Operating Cash Flow 2,736.7 2,362.5 2,699.1 1,766.8 1,373.4 (1,493.0) 1,810.4 1,722.5 2,206.4 1,534.0 1,005.1 1,130.7 1,310.4 909.4 675.1 504.0 587.9 753.0 994.4 1,217.4 1,182.8 829.2 687.7 828.0 793.7 817.6 289.9 171.7 184 245.2 114.5 94.5 (37.6) 12.3 21.5 (11.2) 12.5
Investing Activities
Capital Expenditure (1,068.9) (1,150.6) (931.8) (765.1) (490.7) (270.6) (739.0) (1,486.8) (1,864.1) (2,262.5) (1,466.8) (957.0) (562.1) (422.8) (301.2) (207.5) (136.8) (781.8) (2,917.4) (1,884.1) (759.9) (702.9) (550.2) (300.0) (327.9) (336.5) (375.3) (361.9) (227.8) (84.8) (37.4) (66) (480.1) (221) (42.6) (159.6) (19.7)
Acquisitions 7.1 (113.9) 343.8 (722.8) (2,016.5) (96.9) 34.8 (927.2) (16.7) (548.1) (103.9) (103.0) (29.0) (54.3) 278.2 207.5 (963.7) 0 2,675.9 0 (4,421.0) 0 0 0 0 (5,315.5) 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (237.8) 0 (161.0) (254.8) (226.9) (96.9) (81.9) 184.6 (16.7) (3.6) (200.2) (693.1) (219.5) (285.5) (330.3) (703.0) 136.8 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 0 226.9 96.9 81.9 163.6 0 15 770.2 210.3 252.6 315.4 (330.3) 113.4 753.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (48.5) (18.7) 26.6 3,850.5 4,050.8 2,526.8 4,223.7 (17.2) 300.2 534.3 205.6 18.8 (2.1) 0.7 662.4 3.5 (120.0) (1,199.7) 450.8 231.6 (121.9) 355.1 (5.5) (71.2) (24.3) 95.3 (11.4) (43.8) 26 (36) (128.6) (127) 67.4 23.1 127.3 1 100.3
Investing Cash Flow (1,348.1) (1,283.2) (722.5) 2,107.8 1,543.6 2,159.3 3,519.4 (2,083.0) (1,580.6) (2,276.2) (795.1) (1,524.2) (560.1) (446.4) (21.3) (586.1) (330.3) (1,981.4) 209.3 (1,652.4) (5,302.8) (347.8) (555.7) (371.2) (352.2) (5,556.7) (386.7) (405.7) (201.8) (120.8) (166) (193) (412.7) (197.9) 84.7 (158.6) 80.6
Financing Activities
Net Debt Issuance (180.5) 29.4 (2,382.9) 77.9 (1,346.4) 2,412.7 (4,211.6) 2,240.0 (137.7) (791.7) (875.5) 713.9 (163.8) (574.2) 718.4 (1,979.5) 497.8 2,389.8 (1,810.5) 1,812.3 4,196.2 (97.7) 286.9 (270.1) (419.7) 3,654.3 756 490.3 (11.8) (523.2) 78.1 (10) 10 455.9 (82.8) 82.3 (43.5)
Stock Repurchased (1,228.3) (1,357.9) (2,291.9) (2,775.2) (1,753.5) (353.7) (1,031.5) (1,283.3) (327.5) (100) 0 0 0 0 0 0 0 (1,240.9) (826.8) (246.9) (217.3) (348.9) (442.9) (207.6) (45.7) (52.6) (295.2) (210.6) 0 0 0 (27.8) 0 0 (20) (9.5) 0
Dividends Paid 0 0 0 (4.0) (4.8) (77.6) (271.3) (260.6) (252.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (11.3) 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (322.4) (235.8) (329.8) (323.0) (502.2) (402.7) 984.8 (306.8) (239.1) 203.6 617.6 (405.8) (325.9) (212.7) (6.5) (84.1) (113.4) (26.9) 106.2 (1,144.5) (61.8) (15.3) (45.5) (22.8) (5.1) 0 (374.5) 0 0 0 0 0 0 0 0 0 0
Financing Cash Flow (1,731.1) (1,564.3) (5,004.6) (3,024.3) (2,814.1) 2,103.4 (4,529.6) 389.2 (568.8) 519.4 (257.9) 308.1 (489.7) (787.0) 711.9 (1,475.2) 1,488.8 1,122.1 (1,240.5) 510.0 4,062.8 (326.0) (165.2) (454.5) (460.5) 4,845.6 136.4 281.4 (9) (172.9) 85.6 (37) 81.6 555.9 97.4 77.9 (10.4)
Cash Position
Net Change in Cash (352.5) (511.8) (2,984.1) 708.8 101.4 2,772.0 802.8 26.8 53.4 (223.7) (43.4) (90.0) 260.2 (322.4) 1,366.9 (1,557.2) 1,760.6 (106.3) (36.8) 75.0 (57.2) 155.5 (33.2) 2.3 (19.0) 106.4 39.5 281.4 (9) (172.9) 85.6 (37) 81.6 555.9 97.4 77.9 (10.4)
Cash at Beginning 2,415.5 3,014.9 5,911.9 5,203.1 5,101.6 2,329.6 1,526.8 1,500.0 1,446.6 1,670.3 1,713.7 1,803.7 1,543.5 1,865.9 499.0 2,056.2 295.6 402.0 449.2 377.9 435.1 279.6 211.2 209.0 228.0 121.5 82 34.6 61.4 110 75.9 211.3 580 209.8 6.2 98.1 15.5
Cash at End 2,063.0 2,503.1 2,927.8 5,911.9 5,203.1 5,101.6 2,329.6 1,526.8 1,500.0 1,446.6 1,670.3 1,713.7 1,803.7 1,543.5 1,865.9 499.0 2,056.2 295.6 412.4 452.9 377.9 435.1 178.0 211.2 209.0 228.0 121.5 316 52.4 (62.9) 161.5 174.3 661.6 765.7 103.6 176 5.1
Free Cash Flow 1,667.7 1,211.9 1,767.3 1,001.8 882.7 (1,763.6) 1,071.4 235.7 342.3 (728.5) (461.7) 173.6 748.3 486.6 373.9 296.5 451.1 (28.7) (1,923.0) (666.6) 422.8 126.4 137.5 527.9 465.8 481.1 (85.4) (190.2) (43.8) 160.4 77.1 28.5 (517.7) (208.7) (21.1) (170.8) (7.2)
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
Income Statement
Revenue 17,537.7 17,240.5 16,164.2 13,127.5 9,680.1 4,917.1 12,899.7 11,763.1 10,797.5 9,455.1 9,190.1 10,082.0 9,809.7 9,160.8 7,849.3 6,019.2 5,978.6 7,208.8 7,691.6 7,176.0 6,482.0 4,238.1 3,908.8 4,031.3 4,009.6 3,518.9 1,391.7 773.9 827.6 804.8 721.8 742.2 57.8 50 146.9 176.5 213 207.9
Gross Profit 7,790.1 7,847.0 7,610.7 6,474.5 4,649.5 1,709.4 5,296.2 4,844.2 4,604.4 3,959.5 3,564.7 3,713.3 3,550.9 3,239.6 2,823.0 2,261.7 2,439.3 3,065.1 3,552.5 3,362.6 2,934.9 1,945.2 1,746.8 1,836.3 1,802.3 1,843.4 801 364.6 422.4 401.2 335.7 336.9 (47.1) 15.3 46.2 37.3 58.6 71.6
Operating Income 1,001.8 1,490.5 1,891.5 1,439.4 2,278.7 (642.4) 3,940.2 1,469.5 1,712.5 2,079.8 (156.2) 1,323.5 1,111.5 80.5 4,057.1 (1,158.9) (963.9) (129.6) 2,863.9 1,758.2 1,357.2 950.9 713.1 766.8 627.9 537.7 209.8 131.5 219.6 186.6 109.6 129.8 (123.2) (18.6) (14.9) (34.2) 9.2 8.5
Net Income 206.2 746.6 1,142.2 1,473.1 1,254.4 (1,032.7) 2,049.1 466.8 1,952.1 1,101.4 (447.7) (149.9) (156.6) (1,767.7) 3,114.6 (1,437.4) (1,291.7) (855.3) 1,584.4 648.3 443.3 412.3 243.7 292.4 169.8 160.7 86 68.9 111.1 43.7 46.6 74.5 (117.6) (20.1) (12.2) (23.6) 25.6 4.3
EPS (Diluted) 0.76 2.40 3.19 0.50 2.41 -2.67 3.88 0.85 3.34 1.92 -0.82 -0.31 -0.32 -3.61 5.62 -3.19 -3.41 -3.06 5.31 2.22 1.50 1.43 0.80 0.92 0.53 0.55 0.36 0.31 0.47 0.20 0.24 0.38 -0.62 -0.12 -0.10 -0.23 0.31 0.06
Balance Sheet
Cash & Equivalents 2,063.0 2,415.5 2,927.8 5,911.9 4,703.1 5,101.6 2,329.6 1,526.8 1,500.0 1,446.6 1,670.3 1,713.7 1,803.7 1,543.5 1,865.9 499.0 2,056.2 295.6 416.1 452.9 377.9 435.1 279.6 211.2 209.0 228.0 121.5 82 34.6 61.4 110 75.9 211.3 580 209.8 6.2 98.1 15.5
Total Assets 41,373.8 42,231.6 42,368.5 45,692.2 40,899.1 36,494.9 33,876.4 30,210.7 29,160.0 28,173.3 25,215.2 26,593.9 26,084.6 26,284.7 27,766.3 18,961.0 22,518.2 23,274.7 22,727.7 22,146.2 20,699.4 11,115.0 10,811.3 10,505.0 10,497.4 10,734.6 2,743.5 1,769 1,398.4 1,287.7 1,282.2 1,140.8 1,160.1 1,063.5 473.1 375.9 292.4 277.3
Total Debt 56,155.6 31,853.7 31,615.6 33,995.0 24,692.6 21,017.7 15,664.6 15,131.4 12,909.1 12,987.6 12,696.8 14,050.6 13,635.8 13,796.0 13,840.6 12,246.9 14,312.7 13,464.2 11,175.2 12,994.9 12,355.4 5,458.9 5,530.9 5,220.7 5,463.4 5,880.8 1,330.2 552.8 68.4 94 563.7 487.7 498.9 505.8 0.7 83.7 0.5 44.1
Stockholders' Equity 2,429.9 3,023.5 3,811.2 4,831.5 6,070.6 6,504.7 7,727.3 6,512.3 7,577.1 6,220.2 5,119.9 4,090.9 4,216.1 4,365.5 6,086.6 2,998.5 3,870.4 3,974.4 6,060.7 3,849.5 3,235.1 2,771.7 2,533.8 2,664.1 2,510.7 2,382.4 1,023.2 964.4 1,101.6 973.4 584.5 529.4 481.8 526.8 446.9 258.4 265.1 204.6
Cash Flow
Operating Cash Flow 2,736.7 2,362.5 2,699.1 1,766.8 1,373.4 (1,493.0) 1,810.4 1,722.5 2,206.4 1,534.0 1,005.1 1,130.7 1,310.4 909.4 675.1 504.0 587.9 753.0 994.4 1,217.4 1,182.8 829.2 687.7 828.0 793.7 817.6 289.9 171.7 184 245.2 114.5 94.5 (37.6) 12.3 21.5 (11.2) 12.5
Capital Expenditure (1,068.9) (1,150.6) (931.8) (765.1) (490.7) (270.6) (739.0) (1,486.8) (1,864.1) (2,262.5) (1,466.8) (957.0) (562.1) (422.8) (301.2) (207.5) (136.8) (781.8) (2,917.4) (1,884.1) (759.9) (702.9) (550.2) (300.0) (327.9) (336.5) (375.3) (361.9) (227.8) (84.8) (37.4) (66) (480.1) (221) (42.6) (159.6) (19.7)
Free Cash Flow 1,667.7 1,211.9 1,767.3 1,001.8 882.7 (1,763.6) 1,071.4 235.7 342.3 (728.5) (461.7) 173.6 748.3 486.6 373.9 296.5 451.1 (28.7) (1,923.0) (666.6) 422.8 126.4 137.5 527.9 465.8 481.1 (85.4) (190.2) (43.8) 160.4 77.1 28.5 (517.7) (208.7) (21.1) (170.8) (7.2)