Molina Healthcare, Inc. logo MOH - Molina Healthcare, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 17
HOLD 15
SELL 6
STRONG
SELL 0
| PRICE TARGET: $169.75 DETAILS
HIGH: $224.00
LOW: $124.00
MEDIAN: $160.50
CONSENSUS: $169.75
DOWNSIDE: 7.81%
Annual Quarterly
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
Revenue
Revenue 10,796 11,375 11,477 11,427 11,147 10,499 10,340 9,880 9,931 9,048 8,548 8,327 8,149 8,223 7,927 8,054 7,770 7,409 7,040 6,800 6,522 5,235 5,021 4,618 4,549 4,274 4,243 4,193 4,119 4,664 4,697 4,883 4,646 4,949 5,031 4,999 4,904 4,463 4,546 4,359 4,343 3,765 3,611.4 3,524.9 3,171.1 2,801.0 2,484.4 2,312.0 2,069.2 1,705.6 1,687.1 1,605.8 1,590.6 1,578.6 1,540.2 1,535.3 1,373.6 1,306.4 1,176.7 1,167.1 1,119.7 1,080.8 1,039.1 999.3 966.7 964.2 916.5 927.6 861.0 812.5 796.3 766.5 737.0 679.6 636.0 613.9 562.9 549.5 517.5 484.6 453.4 423.2 428.6 404.3 394.0 375.4 330.8 249.1 220.0 208.9 195.0
Cost of Revenue 9,270 10,674 10,550 10,260 9,867 9,386 9,151 8,666 8,711 8,006 7,482 7,207 7,043 7,219 6,971 7,087 6,771 6,573 6,253 6,004 5,661 4,648 4,338 3,826 3,934 3,667 3,642 3,576 3,509 3,974 4,098 4,173 4,021 4,481 4,449 4,729 4,344 4,141 4,049 3,869 3,882 3,344 3,185.0 3,097.6 2,807.8 2,475.0 2,241.5 2,063.5 1,836.2 1,501.0 1,467.0 1,380.9 1,365.5 1,354.8 1,351.6 1,408.2 1,161.5 1,076.9 993.7 988.6 944.8 899.3 873.5 853.9 822.8 842.4 792.8 803.2 737.9 684.8 669.4 640.8 626.3 560.8 525.9 516.9 476.5 462.8 430.9 401.7 383.2 355.7 366.6 369.5 333.1 314.9 276.5 209.0 184.2 172.9 160.6
Gross Profit 1,526 701 927 1,167 1,280 1,113 1,189 1,214 1,220 1,042 1,066 1,120 1,106 1,004 956 967 999 836 787 796 861 587 683 792 615 607 601 617 610 690 599 710 625 468 582 270 560 322 497 490 461 421 426.4 427.3 363.3 326.0 242.9 248.6 233.0 204.6 220.0 224.9 225.1 223.8 188.6 127.1 212.1 229.5 183.0 178.5 175.0 181.5 165.6 145.5 143.9 121.9 123.7 124.4 123.1 127.7 127.0 125.7 110.7 118.8 110.1 97.0 86.4 86.7 86.6 82.9 70.1 67.6 62.0 34.8 60.8 60.5 54.3 40.0 35.8 36.1 34.4
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
SG&A Expenses 779 795 729 711 774 665 676 691 711 645 608 618 591 629 560 551 571 579 532 484 473 450 368 345 317 343 323 328 302 335 311 335 352 367 383 405 439 359 343 351 340 317 287.7 286.5 256.1 204.5 178.9 193.2 188.1 187.0 176.2 161.5 141.4 153.4 127.5 131.5 120.2 125.0 99.6 96.9 94.4 100.4 88.7 78.1 113.4 115.9 97.6 94.1 91.5 91.6 88.0 87.1 78.1 80.5 74.2 67.2 63.4 61.0 60.5 56.3 51.2 45.7 47.0 37.1 33.5 31.2 26.6 18.8 17.5 14.8 15.4
Other Expenses 571 68 61 83 73 68 46 89 83 81 99 59 60 270 61 55 56 66 34 39 53 46 26 23 24 21 21 24 28 83 (7) 25 51 370 280 152 39 37 36 34 32 28 25.8 25.2 25.0 25.1 24.2 22.9 20.7 20.3 18.9 17.0 16.6 16.3 53.9 56.0 58.5 56.1 49.8 50.2 49.2 47.7 47.0 46.2 10.1 9.6 9.8 9.6 9.1 8.7 8.5 8.3 8.2 525.3 7.1 6.7 6.4 6.2 5.6 4.9 4.8 5.2 4.1 3.6 3.2 3.0 2.6 1.7 1.6 2.0 1.4
Operating Expenses 1,350 863 790 794 847 733 722 780 794 726 707 677 651 899 621 606 627 645 566 523 526 496 394 368 341 364 344 352 330 418 304 360 403 737 663 557 478 396 379 385 372 345 313.5 311.6 281.1 229.6 203.1 216.1 208.8 207.3 195.1 178.5 158.0 169.7 181.4 187.5 178.7 181.0 149.4 147.1 143.7 148.0 135.7 124.3 123.5 125.6 107.5 103.7 100.6 100.3 96.5 95.4 86.2 605.8 81.3 74.0 69.8 67.2 66.1 61.2 56.0 50.9 51.1 40.6 36.7 34.2 29.2 20.6 19.1 16.9 16.8
Operating Income
Operating Income 176 (162) 137 373 433 380 467 434 426 316 359 443 455 105 335 361 372 191 221 273 335 91 289 424 274 242 257 265 280 272 295 342 222 (269) (81) (287) 82 (6) 118 105 89 76 112.9 115.6 82.2 96.4 39.8 32.4 24.3 (2.7) 24.9 46.4 67.9 54.1 7.2 (59.3) 33.4 (16.1) 33.6 31.4 31.3 33.4 30.0 21.2 20.4 (3.7) 16.3 20.7 24.1 27.5 30.4 30.3 24.5 30.6 28.8 22.3 16.6 19.5 20.5 21.7 14.2 17.6 10.9 (6.8) 24.1 26.3 25.1 19.4 16.8 19.2 17.6
Interest Expense 54 52 49 48 43 34 29 28 27 27 27 27 28 27 28 27 28 30 30 30 30 30 27 24 21 20 22 22 23 24 26 32 33 33 32 27 26 25 26 25 25 22 15.3 14.9 14.9 14.6 14.4 14.0 13.8 13.8 13.5 11.7 13.0 4.3 4.3 3.8 4.3 3.9 4.4 3.7 3.6 3.5 4.6 4.1 3.4 3.9 3.3 3.2 3.4 2.2 2.0 2.3 3.4 0 0.5 0.7 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 122 (118) 182 431 481 428 514 480 471 359 401 485 499 152 380 405 412 201 253 304 368 105 312 440 294 263 276 301 308 303 310 373 249 (244) (38) (240) 206 41 164 139 121 110.6 144 145 115 131.4 72.7 65.1 57.3 23.1 49.1 65.1 89.8 59.9 22.5 (30.8) 48.4 5.9 47.0 43.9 44.0 53.7 46.5 35.0 30.5 5.9 26.4 30.7 32.2 36.2 38.9 38.6 33.0 37.5 35.9 29.0 23.0 25.7 26.1 26.6 18.9 20.9 15.0 (3.2) 27.3 29.3 27.6 21.2 18.4 21.3 19.0
EBIT 83 (162) 137 373 433 380 467 434 426 316 359 443 455 105 335 361 372 166 221 273 335 81 289 419 274 242 255 279 283 280 310 337 212 (283) (81) (287) 157 (6) 118 105 89 77.2 113 116 82 96.5 38.9 32.4 24.3 (2.7) 24.9 42.9 68.0 54.5 2.2 (50.5) 33.4 (16.1) 33.6 31.4 31.3 33.4 30.0 21.2 20.4 (3.7) 15.1 19.5 23.2 27.5 30.4 30.3 24.5 29.9 28.8 22.3 16.6 19.5 20.5 21.7 14.2 16.6 10.9 (6.8) 24.1 26.3 25.1 19.4 16.8 19.2 17.6
Income Before Tax 29 (214) 88 325 390 346 438 406 399 289 332 416 427 78 307 334 344 136 191 243 305 51 262 395 253 222 233 257 260 256 259 305 179 (316) (113) (314) 131 (99) 92 80 64 56 97.6 100.7 67.4 81.9 24.5 18.4 10.5 (16.5) 11.4 31.3 54.2 50.1 2.9 (63.1) 29.1 (20.0) 29.2 27.7 27.7 30.0 25.4 17.1 17.1 (7.6) 13.0 17.5 20.7 25.3 28.4 28.0 22.2 28.4 28.3 21.6 15.5 18.7 19.8 21.2 13.7 17.3 10.3 (7.6) 23.8 26.1 24.8 19.2 17.7 18.9 17.0
Income Tax Expense 15 (54) 9 70 92 95 112 105 98 73 87 107 106 22 77 86 86 33 48 58 77 17 77 119 75 54 58 61 62 55 62 103 72 (54) (16) (84) 54 (8) 50 47 40 26 51.3 61.8 39.2 47.9 8.4 10.7 5.7 (7.5) 3.9 15.5 24.3 24.5 (0.5) (25.8) 11.0 13.0 10.2 10.3 10.3 12.4 9.2 6.5 6.5 (3.1) 4.4 2.9 8.5 9.8 11.3 11.4 9.0 10.5 10.8 8.2 5.9 7.1 7.5 8.0 5.2 6.6 3.5 (2.9) 9.0 9.8 8.4 7.2 6.6 7.1 6.0
Net Income 14 (160) 79 255 298 251 326 301 301 216 245 309 321 56 230 248 258 103 143 185 228 34 185 276 178 168 175 196 198 201 197 202 107 (262) (97) (230) 77 (91) 42 33 24 29.6 46 39 28 33.8 16.1 7.8 4.5 (9.1) 7.6 24.6 29.9 25.6 3.4 (37.3) 18.1 (33.0) 18.9 17.4 17.4 17.6 16.2 10.6 10.6 (4.5) 8.6 14.6 12.2 15.5 16.5 15.8 12.5 17.9 17.5 13.3 9.6 11.6 12.3 13.2 8.6 10.7 6.8 (4.7) 14.8 16.3 16.4 11.9 11.1 11.9 10.9
Per Share Data
EPS (Basic) 0.27 -3.15 1.51 4.76 5.47 4.37 5.66 5.20 5.20 3.72 4.24 5.36 5.53 0.97 3.99 4.29 4.45 1.78 2.49 3.20 3.95 0.57 3.14 4.72 2.95 2.71 2.81 3.15 3.19 3.24 3.22 3.29 1.79 -4.59 -1.72 -4.11 1.38 -1.65 0.77 0.58 0.44 0.54 0.84 0.78 0.58 0.68 0.34 0.17 0.10 -0.20 0.17 0.54 0.65 0.55 0.07 -0.80 0.39 -0.72 0.41 0.38 0.38 0.38 0.38 0.27 0.27 -0.12 0.23 0.37 0.31 0.39 0.42 0.38 0.29 0.42 0.41 0.31 0.23 0.28 0.29 0.31 0.21 0.26 0.17 -0.11 0.35 0.39 0.40 0.29 0.29 0.31 0.39
EPS (Diluted) 0.27 -3.15 1.50 4.74 5.45 4.35 5.65 5.17 5.16 3.71 4.22 5.34 5.53 0.96 3.99 4.25 4.40 1.74 2.46 3.16 3.89 0.56 3.10 4.65 2.92 2.67 2.75 3.06 2.99 3.01 2.90 3.02 1.64 -4.37 -1.72 -4.11 1.37 -1.60 0.76 0.58 0.43 0.51 0.77 0.72 0.56 0.68 0.33 0.16 0.09 -0.20 0.16 0.53 0.64 0.54 0.07 -0.80 0.39 -0.72 0.41 0.38 0.38 0.38 0.38 0.27 0.27 -0.12 0.22 0.37 0.31 0.39 0.41 0.37 0.29 0.42 0.41 0.31 0.23 0.28 0.29 0.31 0.21 0.26 0.16 -0.11 0.35 0.39 0.39 0.29 0.29 0.31 0.38
Shares Outstanding 51 50.8 53.6 54.3 54.6 57.4 57.6 57.9 57.9 58 57.8 57.7 58 58 57.6 57.8 58 58 57.8 57.7 57.7 59.3 58.7 58.6 60.2 62 62.2 62.1 62.1 62 61.3 61.2 59.8 57.1 56.5 56 56 55.2 56 55 55 56 55 50 49 48.9 47.0 46.3 46.0 45.7 45.7 45.4 46.0 46.6 46.5 46.4 46.0 45.9 45.8 45.9 45.6 45.4 42.2 38.6 38.5 38.3 38.4 38.8 39.8 39.8 41.4 42.0 42.7 42.6 42.5 42.3 42.2 42.1 42.0 41.9 41.8 41.7 41.6 41.6 41.4 41.3 41.2 41.0 38.3 38.0 28.2
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
Current Assets
Cash & Cash Equivalents 5,314 4,248 4,221 4,499 4,856 4,662 4,732 4,354 4,513 4,848 5,565 4,910 4,554 4,006 4,242 4,312 4,804 4,438 4,357 4,608 4,431 4,154 3,196 3,303 2,365 2,452 2,679 2,253 3,224 2,826 2,814 3,392 3,729 3,186 3,934 2,979 3,198 2,819 2,842 2,345 2,156 461.0 438.3 469.5 417.8 405.2 447.6 178.3 170.1 141.8 133.6 0
Short-Term Investments 0 0 4,226 4,310 4,438 4,325 4,482 4,347 4,424 4,259 4,111 3,886 3,810 3,499 3,639 3,567 2,988 3,202 2,900 2,241 1,938 1,875 1,769 1,906 2,010 1,946 1,757 2,070 1,508 1,681 1,812 2,176 2,444 2,524 1,787 2,192 2,056 1,758 1,735 1,968 2,070 175.2 175.9 174.8 180.4 202.2 108.2 117.2 132.3 98.8 2 2
Net Receivables 3,420 3,533 3,515 3,865 3,491 3,299 3,259 3,231 3,350 3,104 2,460 2,385 2,536 2,302 2,220 2,240 2,156 2,177 1,912 1,857 1,776 1,672 1,775 1,580 1,603 1,406 1,280 1,239 1,359 1,330 1,346 1,148 950 871 1,062 1,074 1,006 1,013 1,053 1,035 901 156.5 131.7 142.7 151.4 158.4 124.1 56.5 52.5 53.7 70.0 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
Other Current Assets 4,592 4,663 590 438 472 487 408 399 381 331 332 260 259 277 0 0 0 0 0 0 0 0 0 0 0 0 21 169 516 476 843 967 662 691 751 765 0 267 314 0 377 4.7 4.3 8.8 6.8 3.9 0.6 2.5 2.1 2.4 1.1 (2)
Total Current Assets 13,326 12,444 12,552 13,112 13,257 12,773 12,881 12,331 12,668 12,542 12,468 11,441 11,159 10,084 10,492 10,332 10,146 10,064 9,366 8,874 8,308 7,876 6,953 7,062 6,324 5,967 5,877 5,863 6,731 6,462 7,301 8,027 8,196 7,511 7,708 7,169 6,402 5,988 6,113 5,545 5,764 821.3 765.3 810.2 770.5 787.4 691.9 360.3 361.8 302.1 217.0 0
Non-Current Assets
Property, Plant & Equipment 300 301 323 305 287 288 306 305 295 270 290 285 274 259 412 401 393 396 385 383 378 391 395 399 385 385 379 373 376 241 264 276 318 342 397 449 447 454 450 448 419 83.6 77.9 78.2 74.0 70.1 47.4 18.3 17.8 18.4 15.4 13.8
Goodwill 2,092 2,195 0 0 0 1,671 0 0 0 1,241 0 0 0 1,115 0 0 0 982 701 704 686 692 0 0 0 143 0 0 0 143 0 0 0 186 430 559 620 620 619 611 619 205.7 0 133.4 0 0 0 0 0 3.8 0 0
Intangible Assets 0 0 2,202 2,168 2,175 267 1,923 1,913 1,927 208 1,471 1,348 1,369 275 1,263 1,286 1,305 270 214 225 237 249 265 164 168 29 176 180 185 47 195 201 250 69 101 112 131 140 149 146 149 120.5 131.7 80.8 151.4 158.4 133.5 29.4 11.8 8.4 4.9 5.5
Long-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 87 82 79 79 98 100 120 118 117 120 119 117 118 115 110 116 107 116 77.8 92.5 96.0 106.8 99.6 0 4.6 5.7 7.9 4.7 0
Other Non-Current Assets 458 446 442 439 474 424 421 404 395 404 386 367 361 361 428 412 402 391 284 279 275 255 194 99 99 105 108 106 111 24 30 28 135 141 139 176 313 127 123 345 116 52.5 44.7 45.4 47.9 48.2 73.2 2 2 2 2 (19.3)
Total Non-Current Assets 3,065 3,120 3,146 3,097 3,129 2,857 2,877 2,854 2,845 2,350 2,402 2,220 2,212 2,230 2,301 2,240 2,214 2,145 1,667 1,656 1,642 1,656 928 814 805 820 824 827 848 692 750 736 937 960 1,246 1,414 1,636 1,460 1,457 1,657 1,419 540.1 425.7 433.8 432.6 419.6 254.1 55.7 38.8 42.5 28.7 0
Total Assets 16,391 15,564 15,698 16,209 16,386 15,630 15,758 15,185 15,513 14,892 14,870 13,661 13,371 12,314 12,793 12,572 12,360 12,209 11,033 10,530 9,950 9,532 7,881 7,876 7,129 6,787 6,701 6,690 7,579 7,154 8,051 8,763 9,133 8,471 8,954 8,583 8,038 7,449 7,570 7,202 7,183 1,361.4 1,190.9 1,244.0 1,203.2 1,207.0 946.0 416.0 400.6 344.6 245.7 212.1
Current Liabilities
Account Payables 0 0 1,124 1,113 1,119 1,331 1,215 973 1,114 1,252 1,090 857 787 889 818 715 809 842 797 651 695 641 566 876 743 502 478 373 444 390 824 754 713 366 485 375 438 385 383 537 601 0 0 387.0 368.7 0 370.5 115.0 110.7 117.0 114.8 0
Short-Term Debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26 18 15 65 198 240 296 484 566 652 782 773 1 471 466 1 455 0 0 0 0 0 0 0 0 0 0 0.1
Deferred Revenue 401 66 73 57 369 51 364 13 328 418 691 414 654 359 663 13 18 370 1 42 71 375 61 54 43 249 207 30 207 211 178 193 404 282 468 284 461 315 380 104 94 19.3 11.3 102.0 84.2 82.5 0 0 0 0 0 0
Other Current Liabilities 7,787 7,306 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (18) 21 169 516 476 843 723 585 522 425 440 0 267 314 0 377 0 0 0 0 0 42.0 0 0 0 23.4 (0.1)
Total Current Liabilities 8,188 7,372 7,481 7,876 8,155 7,896 8,337 7,836 8,514 8,168 8,492 7,537 7,614 6,855 7,242 7,225 7,041 7,047 6,070 5,707 5,323 4,965 3,556 3,755 3,570 3,269 3,308 3,388 4,292 4,246 5,213 5,820 6,005 5,557 5,962 5,793 4,422 4,570 4,665 3,646 4,377 475.9 424.3 489.0 458.3 461.1 413.8 117.8 115.0 119.8 139.6 0
Non-Current Liabilities
Long-Term Debt 3,947 3,766 3,664 3,375 3,574 2,923 2,332 2,181 2,180 2,180 2,179 2,178 2,177 2,176 2,175 2,175 2,174 2,173 2,130 2,129 2,128 2,127 1,813 1,812 1,596 1,237 1,239 1,241 1,121 1,020 1,019 1,019 1,318 1,318 1,317 1,017 1,455 975 971 1,428 965 291.7 185.5 184.4 182.6 182.0 20 0 0 0 8.5 8.3
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 11 15 6 25 15 9.1 11.2 12.5 13.9 12.3 1.1 0 0 0 0 0
Other Non-Current Liabilities 176 173 174 167 155 120 122 122 124 124 121 122 88 104 118 126 134 140 95 101 112 119 85 84 87 90 90 93 97 44 60 68 59 61 48 54 225 42 39 264 38 16.9 16.1 15.4 14.2 22.8 42.7 3.4 3.6 3.4 3.8 (8.3)
Total Non-Current Liabilities 4,123 4,123 4,026 3,730 3,921 3,238 2,651 2,506 2,506 2,509 2,499 2,503 2,469 2,495 2,510 2,517 2,525 2,532 2,445 2,453 2,463 2,471 2,124 2,125 1,912 1,558 1,562 1,566 1,452 1,261 1,277 1,285 1,575 1,577 1,563 1,269 1,889 1,230 1,214 1,915 1,216 317.6 212.8 212.3 210.7 217.1 63.8 3.4 3.6 3.4 12.3 0
Total Liabilities 12,311 11,495 11,507 11,606 12,076 11,134 10,988 10,342 11,020 10,677 10,991 10,040 10,083 9,350 9,752 9,742 9,566 9,579 8,515 8,160 7,786 7,436 5,680 5,880 5,482 4,827 4,870 4,954 5,744 5,507 6,490 7,105 7,580 7,134 7,525 7,062 6,311 5,800 5,879 5,561 5,593 793.5 637.1 701.3 669.0 678.3 477.6 121.2 118.6 123.3 151.9 129.3
Stockholders' Equity
Common Stock 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings 3,616 3,602 3,762 4,159 3,904 4,091 4,326 4,489 4,188 3,887 3,671 3,426 3,117 2,796 2,937 2,707 2,657 2,399 2,296 2,153 1,968 1,860 1,983 1,798 1,522 1,781 1,666 1,491 1,295 1,012 811 614 412 298 560 657 887 810 857 815 782 435.8 425.2 414.6 410.5 396.0 306.8 160.8 148.9 137.8 114.2 103.2
Accumulated Other Comprehensive Income (7) 15 9 (10) (28) (57) (9) (85) (85) (82) (165) (146) (125) (160) (185) (128) (81) (5) 17 26 26 37 37 32 (15) 4 5 5 (3) (8) (10) (11) (12) (5) (1) (1) (1) (2) 3 4 2 (2.0) (1.7) (1.8) (1.7) (2.3) 0.1 (0.4) 0.1 0.1 0 0
Total Stockholders' Equity 4,080 4,069 4,191 4,603 4,310 4,496 4,770 4,843 4,493 4,215 3,879 3,621 3,288 2,964 3,041 2,830 2,794 2,630 2,518 2,370 2,164 2,096 2,201 1,996 1,647 1,960 1,831 1,736 1,835 1,647 1,561 1,658 1,553 1,337 1,429 1,521 1,727 1,649 1,691 1,641 1,590 567.9 553.8 542.7 534.2 528.7 468.4 294.8 282.0 221.3 93.8 82.9
Total Liabilities & Equity 16,391 15,564 15,698 16,209 16,386 15,630 15,758 15,185 15,513 14,892 14,870 13,661 13,371 12,314 12,793 12,572 12,360 12,209 11,033 10,530 9,950 9,532 7,881 7,876 7,129 6,787 6,701 6,690 7,579 7,154 8,051 8,763 9,133 8,471 8,954 8,583 8,038 7,449 7,570 7,202 7,183 1,361.4 1,190.9 1,244.0 1,203.2 1,207.0 946.0 416.0 400.6 344.6 245.7 212.1
Debt Metrics
Total Debt 3,947 3,950 3,852 3,563 3,766 3,118 2,529 2,384 2,382 2,385 2,378 2,381 2,381 2,391 2,392 2,391 2,391 2,392 2,350 2,352 2,351 2,352 2,039 2,041 1,851 1,486 1,487 1,538 1,553 1,458 1,513 1,701 2,082 2,169 2,297 1,988 1,654 1,645 1,635 1,627 1,618 291.7 185.5 184.4 182.6 182.0 20 0 0 0 8.5 8.3
Net Debt (1,367) (298) (369) (936) (1,090) (1,544) (2,203) (1,970) (2,131) (2,463) (3,187) (2,529) (2,173) (1,615) (1,850) (1,921) (2,413) (2,046) (2,007) (2,256) (2,080) (1,802) (1,157) (1,262) (514) (966) (1,192) (715) (1,671) (1,368) (1,301) (1,691) (1,647) (1,017) (1,637) (991) (1,544) (1,174) (1,207) (718) (538) (169.3) (252.8) (285.1) (235.2) (223.2) (427.6) (178.3) (170.1) (141.8) (125.1) 8.3
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
Operating Activities
Net Income 14 (160) 79 255 298 251 326 301 301 216 245 309 321 56 230 248 258 103 143 185 228 34 185 276 178 168 175 196 198 201 197 202 107 (262) (97) (230) 77 (91) 42 33 24 6.8 (4.7) 14.8 11.9 11.1 11.9 11.7 10.9 8.0
Depreciation & Amortization 39 0 45 58 48 48 47 46 45 43 42 42 44 47 45 44 40 35 32 31 33 24 23 21 20 21 21 22 25 23 31 36 37 39 43 47 49 47 46 45 44 4.1 3.6 3.2 1.7 1.6 2.0 1.6 1.4 1.3
Stock-Based Compensation 33 0 (3) 3 27 18 30 32 36 27 33 30 25 23 23 23 34 23 14 11 24 14 15 16 12 10 10 10 9 7 7 7 6 8 3 29 6 2 8 9 7 0 0 0.2 0 0 1.2 0 0 0
Change in Working Capital 192 (207) 823 (625) (198) (580) 473 (595) (196) (977) 660 111 520 (526) (9) 64 23 403 288 267 265 1,223 (375) 162 (85) (173) 53 (312) (1) (431) (694) (338) 214 (222) 171 59 581 70 267 65 20 41.6 9.8 (18.9) (1.5) (1.8) 42.8 (40.8) 15.7 (22.7)
Other Non-Cash Items 834 69 (1,084) (2) 2 0 4 2 2 (1) (2) 0 5 219 3 2 (8) 49 (1) (2) 12 20 3 146 (3) 0 (5) (13) 3 51 (20) 8 36 310 192 84 11 10 11 (22) 14 0.6 0.5 1.8 0.2 0.2 (29.0) 29.0 (16.5) 17.1
Operating Cash Flow 1,082 (298) (125) (302) 190 (224) 873 (219) 214 (690) 949 487 916 (212) 254 368 363 597 461 493 568 1,299 (158) 613 136 29 242 (93) 249 (123) (505) (80) 394 (153) 285 (47) 719 40 355 139 139 52.5 7.8 2.4 12.0 12.0 28.2 2.5 10.8 4.0
Investing Activities
Capital Expenditure (27) 1 (38) (42) (22) (11) (35) (27) (27) 5 (26) (31) (32) (10) (31) (27) (23) (21) (27) (13) (16) (10) (19) (24) (21) (27) (10) (14) (6) (6) (10) (10) (4) (1) (25) (34) (26) (33) (41) (56) (46) (3.0) (4.6) (2.2) (1.6) (0.6) (2.3) (2.8) (2.4) (0.9)
Acquisitions 0 0 0 0 (245) 0 (49) 0 (295) 0 (3) 0 0 (134) (134) 0 0 (129) 0 0 0 (693) (62) 0 0 0 0 0 0 190 0 0 0 0 0 0 0 (48) (40) (6) (2) 31.2 (31.2) 0 (18) 0 0 0 0 0
Purchases of Investments (249) (144) (186) (232) (189) (143) (395) (214) (380) (138) (371) (278) (646) (149) (351) (1,010) (403) (695) (1,012) (618) (388) 0 0 (92) (578) (598) (776) (977) (185) (242) (288) (525) (389) (822) (260) (903) (733) (485) (470) (363) (611) (35.6) (15.6) (4.0) (537.1) (247.1) (96.5) (81.2) 0 0
Sales/Maturities of Investments 295 391 300 386 331 240 365 295 211 102 124 175 371 316 203 366 513 364 343 314 308 206 141 257 493 412 1,099 425 366 375 735 792 543 233 664 441 433 454 700 464 348 11.4 3.4 18.9 275.7 106.9 79.0 0 0 0
Other Investing Activities (8) (18) 1 16 2 (67) 66 (1) 3 6 (4) (3) 5 125 (34) 6 (13) (66) (2) (4) 9 (1) 0 0 3 0 0 2 (4) 5 (14) (4) (5) (9) (8) (10) (13) 41 (7) 2 (3) (32.2) (0.7) (4.3) 276.4 109.1 (29.0) (63.6) 1.4 (1.4)
Investing Cash Flow 11 230 77 128 (123) 19 (48) 53 (488) (25) (280) (137) (302) 148 (347) (665) 74 (547) (698) (321) (87) (498) 60 141 (103) (213) 313 (564) 171 322 423 253 145 (599) 371 (506) (339) (71) 142 41 (314) (28.2) (48.8) 8.5 (4.6) (31.8) (48.8) (66.4) (1.0) (2.4)
Financing Activities
Net Debt Issuance 0 98 290 (200) 650 590 150 0 0 0 0 0 0 0 0 0 0 17 0 0 0 302 0 189 380 0 (55) (19) 54 (62) (211) (389) 0 0 300 0 0 0 0 0 0 (6.3) 3.0 3.0 0 0 0 (6.6) (1.7) 5.0
Stock Repurchased 0 0 (500) 0 (500) (500) (500) 0 (56) 0 (1) (1) (58) (200) 0 (201) (52) (1) 0 (1) (128) (153) 0 (453) (453) (47) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (19.6) 0 (20.4)
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (20.4) 0 0 0
Other Financing Activities (20) (6) (10) 11 (3) (23) (14) 12 (6) 3 (5) 11 (7) 17 10 10 (25) 5 (4) 8 (79) 7 (2) 453 (45) 5 (93) (295) (102) (119) (298) (109) (5) (4) (1) 324 (2) 0 0 (1) 2 3.1 (1.3) 0.0 0 0 20.4 (1.9) 0 0
Financing Cash Flow (20) 92 (220) (189) 147 67 (364) 12 (62) 3 (6) 10 (65) (183) 10 (191) (77) 21 (4) 7 (207) 156 (2) 189 (118) (42) (148) (314) (48) (181) (509) (498) (5) 4 299 334 (1) 8 0 9 2 (3.2) 1.0 3.4 0.8 48.1 1.2 91.5 (1.7) (15.4)
Cash Position
Net Change in Cash 1,073 27 (268) (363) 214 (138) 461 (159) (335) (712) 663 360 549 (247) (83) (488) 360 71 (241) 179 274 957 (100) 943 (85) (226) 407 (971) 372 18 (591) (325) 534 (748) 955 (219) 379 (23) 497 189 (173) 21.0 (40.0) 14.4 8.2 28.3 (19.4) 27.6 8.0 (13.7)
Cash at Beginning 4,348 4,221 4,592 4,955 4,741 4,879 4,418 4,513 4,848 5,620 4,957 4,597 4,048 4,295 4,378 4,866 4,506 4,435 4,676 4,497 4,223 3,266 3,366 2,423 2,508 2,734 2,327 3,298 2,926 2,908 3,499 3,824 3,290 3,934 2,979 3,198 2,819 2,842 2,345 2,156 2,329 202.5 242.4 228.1 170.1 141.8 161.2 133.6 125.6 139.3
Cash at End 5,421 4,248 4,324 4,592 4,955 4,741 4,879 4,354 4,513 4,908 5,620 4,957 4,597 4,048 4,295 4,378 4,866 4,506 4,435 4,676 4,497 4,223 3,266 3,366 2,423 2,508 2,734 2,327 3,298 2,926 2,908 3,499 3,824 3,186 3,934 2,979 3,198 2,819 2,842 2,345 2,156 223.5 202.5 242.4 178.3 170.1 141.8 161.2 133.6 125.6
Free Cash Flow 1,055 (297) (163) (344) 168 (235) 838 (246) 187 (685) 923 456 884 (222) 223 341 340 576 434 480 552 1,289 (177) 589 115 2 232 (107) 243 (129) (515) (90) 390 (154) 260 (81) 693 7 314 83 93 49.5 3.1 0.2 10.4 11.4 26.0 (0.3) 8.4 3.1
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
Income Statement
Revenue 10,796 11,375 11,477 11,427 11,147 10,499 10,340 9,880 9,931 9,048 8,548 8,327 8,149 8,223 7,927 8,054 7,770 7,409 7,040 6,800 6,522 5,235 5,021 4,618 4,549 4,274 4,243 4,193 4,119 4,664 4,697 4,883 4,646 4,949 5,031 4,999 4,904 4,463 4,546 4,359 4,343 3,765 3,611.4 3,524.9 3,171.1 2,801.0 2,484.4 2,312.0 2,069.2 1,705.6 1,687.1 1,605.8 1,590.6 1,578.6 1,540.2 1,535.3 1,373.6 1,306.4 1,176.7 1,167.1 1,119.7 1,080.8 1,039.1 999.3 966.7 964.2 916.5 927.6 861.0 812.5 796.3 766.5 737.0 679.6 636.0 613.9 562.9 549.5 517.5 484.6 453.4 423.2 428.6 404.3 394.0 375.4 330.8 249.1 220.0 208.9 195.0
Gross Profit 1,526 701 927 1,167 1,280 1,113 1,189 1,214 1,220 1,042 1,066 1,120 1,106 1,004 956 967 999 836 787 796 861 587 683 792 615 607 601 617 610 690 599 710 625 468 582 270 560 322 497 490 461 421 426.4 427.3 363.3 326.0 242.9 248.6 233.0 204.6 220.0 224.9 225.1 223.8 188.6 127.1 212.1 229.5 183.0 178.5 175.0 181.5 165.6 145.5 143.9 121.9 123.7 124.4 123.1 127.7 127.0 125.7 110.7 118.8 110.1 97.0 86.4 86.7 86.6 82.9 70.1 67.6 62.0 34.8 60.8 60.5 54.3 40.0 35.8 36.1 34.4
Operating Income 176 (162) 137 373 433 380 467 434 426 316 359 443 455 105 335 361 372 191 221 273 335 91 289 424 274 242 257 265 280 272 295 342 222 (269) (81) (287) 82 (6) 118 105 89 76 112.9 115.6 82.2 96.4 39.8 32.4 24.3 (2.7) 24.9 46.4 67.9 54.1 7.2 (59.3) 33.4 (16.1) 33.6 31.4 31.3 33.4 30.0 21.2 20.4 (3.7) 16.3 20.7 24.1 27.5 30.4 30.3 24.5 30.6 28.8 22.3 16.6 19.5 20.5 21.7 14.2 17.6 10.9 (6.8) 24.1 26.3 25.1 19.4 16.8 19.2 17.6
Net Income 14 (160) 79 255 298 251 326 301 301 216 245 309 321 56 230 248 258 103 143 185 228 34 185 276 178 168 175 196 198 201 197 202 107 (262) (97) (230) 77 (91) 42 33 24 29.6 46 39 28 33.8 16.1 7.8 4.5 (9.1) 7.6 24.6 29.9 25.6 3.4 (37.3) 18.1 (33.0) 18.9 17.4 17.4 17.6 16.2 10.6 10.6 (4.5) 8.6 14.6 12.2 15.5 16.5 15.8 12.5 17.9 17.5 13.3 9.6 11.6 12.3 13.2 8.6 10.7 6.8 (4.7) 14.8 16.3 16.4 11.9 11.1 11.9 10.9
EPS (Diluted) 0.27 -3.15 1.50 4.74 5.45 4.35 5.65 5.17 5.16 3.71 4.22 5.34 5.53 0.96 3.99 4.25 4.40 1.74 2.46 3.16 3.89 0.56 3.10 4.65 2.92 2.67 2.75 3.06 2.99 3.01 2.90 3.02 1.64 -4.37 -1.72 -4.11 1.37 -1.60 0.76 0.58 0.43 0.51 0.77 0.72 0.56 0.68 0.33 0.16 0.09 -0.20 0.16 0.53 0.64 0.54 0.07 -0.80 0.39 -0.72 0.41 0.38 0.38 0.38 0.38 0.27 0.27 -0.12 0.22 0.37 0.31 0.39 0.41 0.37 0.29 0.42 0.41 0.31 0.23 0.28 0.29 0.31 0.21 0.26 0.16 -0.11 0.35 0.39 0.39 0.29 0.29 0.31 0.38
Balance Sheet
Cash & Equivalents 5,314 4,248 4,221 4,499 4,856 4,662 4,732 4,354 4,513 4,848 5,565 4,910 4,554 4,006 4,242 4,312 4,804 4,438 4,357 4,608 4,431 4,154 3,196 3,303 2,365 2,452 2,679 2,253 3,224 2,826 2,814 3,392 3,729 3,186 3,934 2,979 3,198 2,819 2,842 2,345 2,156 461.0 438.3 469.5 417.8 405.2 447.6 178.3 170.1 141.8 133.6 0
Total Assets 16,391 15,564 15,698 16,209 16,386 15,630 15,758 15,185 15,513 14,892 14,870 13,661 13,371 12,314 12,793 12,572 12,360 12,209 11,033 10,530 9,950 9,532 7,881 7,876 7,129 6,787 6,701 6,690 7,579 7,154 8,051 8,763 9,133 8,471 8,954 8,583 8,038 7,449 7,570 7,202 7,183 1,361.4 1,190.9 1,244.0 1,203.2 1,207.0 946.0 416.0 400.6 344.6 245.7 212.1
Total Debt 3,947 3,950 3,852 3,563 3,766 3,118 2,529 2,384 2,382 2,385 2,378 2,381 2,381 2,391 2,392 2,391 2,391 2,392 2,350 2,352 2,351 2,352 2,039 2,041 1,851 1,486 1,487 1,538 1,553 1,458 1,513 1,701 2,082 2,169 2,297 1,988 1,654 1,645 1,635 1,627 1,618 291.7 185.5 184.4 182.6 182.0 20 0 0 0 8.5 8.3
Stockholders' Equity 4,080 4,069 4,191 4,603 4,310 4,496 4,770 4,843 4,493 4,215 3,879 3,621 3,288 2,964 3,041 2,830 2,794 2,630 2,518 2,370 2,164 2,096 2,201 1,996 1,647 1,960 1,831 1,736 1,835 1,647 1,561 1,658 1,553 1,337 1,429 1,521 1,727 1,649 1,691 1,641 1,590 567.9 553.8 542.7 534.2 528.7 468.4 294.8 282.0 221.3 93.8 82.9
Cash Flow
Operating Cash Flow 1,082 (298) (125) (302) 190 (224) 873 (219) 214 (690) 949 487 916 (212) 254 368 363 597 461 493 568 1,299 (158) 613 136 29 242 (93) 249 (123) (505) (80) 394 (153) 285 (47) 719 40 355 139 139 52.5 7.8 2.4 12.0 12.0 28.2 2.5 10.8 4.0
Capital Expenditure (27) 1 (38) (42) (22) (11) (35) (27) (27) 5 (26) (31) (32) (10) (31) (27) (23) (21) (27) (13) (16) (10) (19) (24) (21) (27) (10) (14) (6) (6) (10) (10) (4) (1) (25) (34) (26) (33) (41) (56) (46) (3.0) (4.6) (2.2) (1.6) (0.6) (2.3) (2.8) (2.4) (0.9)
Free Cash Flow 1,055 (297) (163) (344) 168 (235) 838 (246) 187 (685) 923 456 884 (222) 223 341 340 576 434 480 552 1,289 (177) 589 115 2 232 (107) 243 (129) (515) (90) 390 (154) 260 (81) 693 7 314 83 93 49.5 3.1 0.2 10.4 11.4 26.0 (0.3) 8.4 3.1