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Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 20
HOLD 8
SELL 0
STRONG
SELL 0
| PRICE TARGET: $60.25 DETAILS
HIGH: $63.00
LOW: $58.00
MEDIAN: $60.00
CONSENSUS: $60.25
UPSIDE: 2.73%
Annual Quarterly
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Revenue
Revenue 11,817 10,904 10,434 10,541 9,575 8,398 8,632 6,652 3,691 3,010 1,034 747 463 442.2 396.9 395.9
Cost of Revenue 6,472 6,087 5,871 6,252 5,520 4,653 4,966 3,878 2,381 1,939 580 457 280 257.6 228.2 259.7
Gross Profit 5,345 4,817 4,563 4,289 4,055 3,745 3,666 2,774 1,310 1,071 454 290 183 184.6 168.7 136.2
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 446 427 379 335 353 378 388 291 241 193 104 64.8 53.7 49.8 67.5 30.3
Other Expenses 137 (898) (716) (957) (290) 3,156 901 (270) (122) 161 (52) (36) (17) (8.4) (1.8) 2.5
Operating Expenses 583 (471) (337) (622) 63 3,534 1,289 46 119 388 73 45 36 41.4 36.7 32.8
Operating Income
Operating Income 4,762 5,288 4,900 4,911 3,992 211 2,377 2,728 1,191 683 381 245 147 143.2 132 103.4
Interest Expense 983 921 923 925 879 896 915 661 354 211 35 4.1 1.4 0.2 0.2 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0.3 1.3 2.3 0.2
Profitability
EBITDA 7,294 6,594 6,087 6,064 5,193 1,526 3,578 3,476 1,818 1,224 498 319 195 183.8 170.6 156.2
EBIT 5,943 5,311 4,874 4,834 3,906 149 2,324 2,609 1,135 633 369 244 146 144.4 134.3 103.6
Income Before Tax 4,960 4,367 3,977 3,986 3,113 (685) 1,462 1,842 837 246 159 178 145.9 144.3 134.1 103.6
Income Tax Expense 8 10 11 8 1 2 0 8 1 (12) 1 1 (0.2) 0.3 0.1 0.3
Net Income 4,912 4,317 3,928 3,944 3,077 (720) 1,033 1,818 794 233 156 121 78 13.1 134 103.3
Per Share Data
EPS (Basic) 4.82 4.21 3.83 3.75 2.86 -0.80 1.03 2.39 1.07 0.00 1.02 1.55 1.05 0.17 3.63 2.80
EPS (Diluted) 4.82 4.21 3.82 3.75 2.86 -0.80 1.03 2.39 1.06 0.00 1.01 1.55 1.05 0.17 3.63 2.80
Shares Outstanding 1,019 1,016 1,001 1,010 1,027 1,051 906 761 385 331 97 74.0 74 74 37.0 37.0
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Current Assets
Cash & Cash Equivalents 2,137 1,519 1,048 238 13 15 15 76 9 239 52 31 54.1 216.7 0.1
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 1,643 1,544 1,562 1,479 1,316 1,164 1,279 706 452 419 432 51 60.5 55.6 289.4
Inventory 172 180 159 148 142 118 110 77 65 54 49 11.7 11.6 8.9 9
Other Current Assets 37 28 34 35 32 214 71 37 33 28 41 3 8.9 2.6 1
Total Current Assets 3,994 3,276 2,808 1,905 1,507 1,515 1,484 897 559 740 576 97 135.1 283.8 298.7
Non-Current Assets
Property, Plant & Equipment 22,213 19,653 19,755 19,359 20,539 21,758 22,742 14,639 12,187 10,730 9,997 1,008 966.6 910 866.8
Goodwill 8,755 7,645 7,645 7,645 7,657 7,657 9,536 2,586 2,245 2,199 2,570 105 104.7 104.7 134.2
Intangible Assets 1,397 518 654 705 831 959 1,270 424 453 492 466 0 0 0 0
Long-Term Investments 5,258 5,236 4,551 5,005 4,913 4,477 5,346 4,198 4,030 2,471 2,483 0 0.2 0.3 0
Other Non-Current Assets 1,388 1,183 1,116 1,046 60 48 52 35 26 14 12 4 1.9 2.5 3.4
Total Non-Current Assets 39,011 34,235 33,721 33,760 34,000 34,899 38,946 21,882 18,941 15,906 15,528 1,117 1,073.4 1,017.5 1,004.4
Total Assets 43,005 37,511 36,529 35,665 35,507 36,414 40,430 22,779 19,500 16,646 15,675 1,214.5 1,208.5 1,301.3 1,303.1
Current Liabilities
Account Payables 108 147 153 224 172 367 1,153 365 281 198 145 34 43.3 56.6 36.6
Short-Term Debt 1,557 1,740 1,181 1,036 561 830 76 0 386 0 0 0 0.7 0.7 0.7
Deferred Revenue 107 106 81 80 77 97 59 51 48 36 32 31 34 0 0
Other Current Liabilities 1,477 1,242 1,209 1,061 2,538 792 844 770 551 437 421 36 1.4 3 1.7
Total Current Liabilities 3,249 3,235 2,624 2,401 3,348 2,086 2,132 1,186 1,304 704 625 101 83.4 63.3 51.1
Non-Current Liabilities
Long-Term Debt 24,151 19,250 19,291 18,801 18,065 19,366 19,694 13,392 6,945 4,422 5,255 644 0 10.6 11.2
Deferred Tax Liabilities 25 18 16 13 10 12 12 13 5 5 377 0 0 0 0
Other Non-Current Liabilities 352 125 126 142 170 115 192 197 188 169 166 2 1.2 0.6 1.6
Total Non-Current Liabilities 25,228 20,266 20,321 19,750 19,142 20,343 20,717 13,725 7,223 4,623 5,812 650 11 11.2 12.8
Total Liabilities 28,477 23,501 22,945 22,151 22,490 22,429 22,849 14,911 8,527 5,327 6,437 751 94.4 74.5 63.9
Stockholders' Equity
Common Stock 14,296 13,579 12,458 11,706 11,217 12,176 15,768 6,724 9,841 9,288 8,422 1,117 646.2 691.1 0
Retained Earnings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Accumulated Other Comprehensive Income 5 (3) (4) (8) (17) (15) (15) (16) (14) 0 413 0 0 0 1,239.2
Total Stockholders' Equity 14,301 13,779 13,349 13,480 12,776 13,740 17,332 7,712 10,827 10,288 8,835 1,117 646.2 691.1 1,239.2
Total Liabilities & Equity 43,005 37,511 36,529 35,665 35,507 36,414 40,430 22,779 19,500 16,646 16,104 1,214 1,208.5 1,301.3 1,303.1
Debt Metrics
Total Debt 26,162 21,436 20,914 20,302 19,066 20,678 20,312 13,392 7,331 4,422 5,255 644 10.5 11.3 11.9
Net Debt 24,025 19,917 19,866 20,064 19,053 20,663 20,297 13,316 7,322 4,183 5,203 613 (43.6) (205.4) 11.8
Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Operating Activities
Net Income 4,952 4,357 3,928 3,978 3,112 (687) 1,462 1,834 836 258 157 178.1 146.1 144 134 103.3
Depreciation & Amortization 1,351 1,283 1,213 1,230 1,287 1,377 1,254 766 683 546 89 50.2 48.9 39.4 36.3 52.6
Stock-Based Compensation 0 0 0 0 0 0 22 32 20 15 5 4 2 1.2 0 0
Change in Working Capital 65 246 130 121 157 204 (108) (41) 147 89 (38) 18.6 23 15.9 12.6 (38.9)
Other Non-Cash Items (466) 58 123 (313) 357 3,628 1,476 97 79 61 16 (0.1) (5.9) (8.9) (0.8) 0.3
Operating Cash Flow 5,909 5,946 5,397 5,019 4,911 4,521 4,082 2,826 1,907 1,288 239 246.8 212.2 190.6 181.9 117.3
Investing Activities
Capital Expenditure (1,808) (1,056) (937) (806) (529) (1,183) (2,408) (1,919) (1,411) (1,206) (264) (78.6) (106.5) (135.6) (49.8) (13.7)
Acquisitions (4,031) (940) (246) (245) (151) (266) (707) (792) (1,010) (87) (1,232) 0 0 0 0 0
Purchases of Investments 0 0 (98) (217) (151) (266) (713) (341) 26 (104) 0 0 0 0 (480.6) (103.1)
Sales/Maturities of Investments 0 0 0 217 151 266 713 0 80 77 0 0 0 221.7 311.7 52
Other Investing Activities 983 1 29 95 162 187 52 25 8 4 (2) 3.5 (7.1) 1.3 0 0.2
Investing Cash Flow (4,856) (1,995) (1,252) (956) (518) (1,262) (3,063) (2,686) (2,307) (1,212) (1,498) (75.1) (113.6) 87.4 (218.7) (64.6)
Financing Activities
Net Debt Issuance 4,077 479 588 (302) (196) (223) 1,844 6,145 2,881 (886) 57 634 (1) (0.7) (0.6) (0.5)
Stock Repurchased (400) (326) (600) (491) (630) (33) 0 0 (25) (25) 0 0 0 (202.7) 0 0
Dividends Paid (4,024) (3,603) (3,296) (3,047) (3,573) (3,006) (3,039) (6,001) (3,229) (974) (137) (103.1) (77.8) (262.7) 0 0
Other Financing Activities (88) (30) (27) 2 4 3 106 (22) (205) 1,777 1,355 (704.5) (182.2) (2.4) 37.3 (52.5)
Financing Cash Flow (435) (3,480) (3,335) (3,838) (4,395) (3,259) (1,089) (73) 171 115 1,275 (198.5) (261.2) (61.4) 36.7 (53)
Cash Position
Net Change in Cash 618 471 810 225 (2) 0 (70) 67 (229) 191 16 (26.8) (162.6) 216.6 (0.1) (0.3)
Cash at Beginning 1,519 1,048 238 13 15 15 85 9 234 43 27 54.1 216.7 0.1 0.2 0.5
Cash at End 2,137 1,519 1,048 238 13 15 15 76 5 234 43 27.3 54.1 216.7 0.1 0.2
Free Cash Flow 4,101 4,890 4,460 4,213 4,382 3,338 1,674 907 496 82 (25) 168.2 105.7 55 132.1 103.6
Key Metrics 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010
Income Statement
Revenue 11,817 10,904 10,434 10,541 9,575 8,398 8,632 6,652 3,691 3,010 1,034 747 463 442.2 396.9 395.9
Gross Profit 5,345 4,817 4,563 4,289 4,055 3,745 3,666 2,774 1,310 1,071 454 290 183 184.6 168.7 136.2
Operating Income 4,762 5,288 4,900 4,911 3,992 211 2,377 2,728 1,191 683 381 245 147 143.2 132 103.4
Net Income 4,912 4,317 3,928 3,944 3,077 (720) 1,033 1,818 794 233 156 121 78 13.1 134 103.3
EPS (Diluted) 4.82 4.21 3.82 3.75 2.86 -0.80 1.03 2.39 1.06 0.00 1.01 1.55 1.05 0.17 3.63 2.80
Balance Sheet
Cash & Equivalents 2,137 1,519 1,048 238 13 15 15 76 9 239 52 31 54.1 216.7 0.1
Total Assets 43,005 37,511 36,529 35,665 35,507 36,414 40,430 22,779 19,500 16,646 15,675 1,214.5 1,208.5 1,301.3 1,303.1
Total Debt 26,162 21,436 20,914 20,302 19,066 20,678 20,312 13,392 7,331 4,422 5,255 644 10.5 11.3 11.9
Stockholders' Equity 14,301 13,779 13,349 13,480 12,776 13,740 17,332 7,712 10,827 10,288 8,835 1,117 646.2 691.1 1,239.2
Cash Flow
Operating Cash Flow 5,909 5,946 5,397 5,019 4,911 4,521 4,082 2,826 1,907 1,288 239 246.8 212.2 190.6 181.9 117.3
Capital Expenditure (1,808) (1,056) (937) (806) (529) (1,183) (2,408) (1,919) (1,411) (1,206) (264) (78.6) (106.5) (135.6) (49.8) (13.7)
Free Cash Flow 4,101 4,890 4,460 4,213 4,382 3,338 1,674 907 496 82 (25) 168.2 105.7 55 132.1 103.6