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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: 6.69%
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
Revenue
Revenue 2,863 3,097 3,619 2,788 2,887 2,840 2,776 2,684 2,604 2,675 2,714 2,496 2,549 2,501 2,743 2,796 2,501 2,594 2,442 2,299 2,240 2,109 2,137 1,965 2,111 2,245 2,152 2,096 2,132 1,625 1,619 1,503 1,332 1,013 933 889 856 692 807 756 617 257.1 195 193 183 131.9 130.7 126.8 130.7 118.9 118.2 116.1 109.9 108.6 116.2 105.6 97.5 104.1 109.3 102.8 94.4
Cost of Revenue 1,689 1,632 1,418 1,571 1,613 1,584 1,558 1,493 1,452 1,463 1,612 1,398 1,398 1,497 1,609 1,708 1,438 1,565 1,407 1,301 1,247 1,208 1,183 1,077 1,185 1,341 1,223 1,210 1,192 958 944 881 776 669 596 566 550 460 512 493 401 168.4 121 106 101 81.2 76.8 71.8 63.2 74.5 69.6 71.3 64 121.6 70.6 60.9 53.6 48.6 39.7 43.8 31.2
Gross Profit 1,174 1,465 2,201 1,217 1,274 1,256 1,218 1,191 1,152 1,212 1,102 1,098 1,151 1,004 1,134 1,088 1,063 1,029 1,035 998 993 901 954 888 926 904 929 886 940 667 675 622 556 344 337 323 306 232 295 263 216 88.7 74 87 82 50.7 53.9 55 67.5 44.4 48.6 44.8 45.9 (13) 45.6 44.7 43.9 55.5 69.6 59 63.2
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
SG&A Expenses 114 101 126 107 112 104 107 107 109 99 102 89 89 87 88 82 78 86 94 87 86 89 96 96 97 95 102 69 82 74 76 72 69 67 59 57 58 46 46 49 52 46 21.1 17.9 18.7 17.7 15.3 15.9 15.9 13.3 13 13.9 13.5 11.7 11.2 17 16.6 40.4 10.7 8.2 14.4
Other Expenses 36 36 274 (183) (204) (191) (164) (335) (208) (262) (154) (166) (134) (143) (628) (111) (75) (113) (90) (20) (67) (108) (41) (86) 3,315 1,155 (99) (89) (73) (73) (73) (58) (70) (58) (33) (14) (17) (11) (19) 72 113 (7.7) (19) (16) (14) (5.5) (5.6) (5.2) (4.7) (5.4) (4.2) (4.3) (3.1) (67.2) (1.9) (1.8) (0.9) (9.5) 19.8 19.1 12.2
Operating Expenses 150 137 400 (76) (92) (87) (57) (228) (99) (163) (52) (77) (45) (56) (540) (29) 3 (27) 4 67 19 (19) 55 10 3,412 1,250 3 1 28 1 3 14 (1) 9 26 43 41 35 37 135 166 38.6 6 5 8 12.2 9.7 10.7 11.2 7.9 8.8 9.6 10.4 (55.5) 9.3 15.2 9 30.9 30.5 27.3 26.6
Operating Income
Operating Income 1,024 1,328 1,801 1,293 1,366 1,343 1,275 1,419 1,251 1,375 1,154 1,175 1,196 1,060 1,674 1,117 1,060 1,056 1,031 931 974 920 899 878 (2,486) (346) 926 885 912 666 672 608 557 335 311 280 265 197 258 128 50 50.1 68 82 74 38.5 44.2 44.3 56.3 36.5 39.8 35.2 35.5 42.5 36.3 29.5 34.9 24.6 39.1 31.7 36.6
Interest Expense 310 277 259 250 235 241 246 231 235 222 225 233 243 234 236 233 222 218 220 216 225 219 224 223 230 229 233 216 215 227 153 151 130 96 93 74 66 52 51 52 56 20 4.7 5.8 5 1.6 1 1 0.4 0.4 0.2 0.3 0.1 0.2 0 0 0 0 0 0.1 0.1
Interest Income 19 0 16 16 18 12 20 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0.2 0 0.5 0.4 0.4 0.2 0.2 1.2 0.7
Profitability
EBITDA 1,382 1,838 2,163 1,622 1,698 1,679 1,617 1,741 1,557 1,683 1,453 1,478 1,492 1,347 1,957 1,407 1,353 1,353 1,334 1,230 1,276 1,292 1,228 1,183 (2,177) (23) 1,212 1,086 1,114 794 856 781 716 487 460 431 440 323 396 267 174 90.3 86 102 92 50.6 56.6 56.4 68.7 48.7 52.3 46.9 47.1 54.1 46.2 39.1 44.5 33.7 49 41.7 46.2
EBIT 1,024 1,483 1,817 1,298 1,372 1,355 1,295 1,421 1,240 1,377 1,152 1,168 1,196 1,042 1,655 1,097 1,040 1,037 1,010 912 947 907 882 862 (2,502) (361) 910 872 903 593 655 593 540 319 296 267 253 184 245 116 38 39.4 67 82 73 37.9 44.1 44 56.1 36.1 39.6 35 35.4 42.5 36.8 29.9 35.3 24.8 39.3 32.9 37.3
Income Before Tax 923 1,206 1,558 1,059 1,137 1,114 1,049 1,188 1,016 1,153 929 942 953 826 1,438 884 838 838 811 715 749 701 675 655 (2,716) (575) 693 489 507 439 519 457 427 239 218 193 187 132 143 12 (41) 20 41.9 51.4 45.9 36.2 43.1 43 55.7 36.1 39.6 34.9 35.3 42.3 36.8 29.9 35.3 24.8 39.3 32.8 37.2
Income Tax Expense 1 3 3 1 1 5 2 2 1 9 1 0 1 2 1 0 5 0 0 0 1 1 1 0 0 (2) 4 (1) (1) 0 3 1 4 (2) 1 2 0 0 0 (8) (4) 1.9 0.1 0 0 (0.2) 0 0.1 0 (0.7) 0.4 0.1 0 0.2 (0.1) 0.1 0.1 0.1 0 0 0
Net Income 912 1,193 1,545 1,048 1,126 1,099 1,037 1,176 1,005 1,134 918 933 943 816 1,428 875 825 830 802 706 739 691 665 648 (2,724) (581) 629 482 503 434 510 453 421 238 216 190 150 133 141 19 (60) 17.7 41 51 46 29.2 29.1 28.8 34.2 20.2 21.5 18.6 17.6 (88.8) 36.9 29.8 35.2 24.7 39.3 32.8 37.2
Per Share Data
EPS (Basic) 0.91 1.17 1.52 1.03 1.10 1.07 1.01 1.15 0.98 1.11 0.89 0.91 0.91 0.78 1.40 0.83 0.81 0.78 0.74 0.66 0.68 0.63 0.61 0.58 -2.57 -0.55 0.61 0.56 0.61 0.52 0.62 0.55 0.61 0.31 0.29 0.26 0.20 0.17 0.22 -0.11 -0.20 -0.14 0.41 0.55 0.52 0.36 0.37 0.37 0.45 0.27 0.29 0.25 0.23 -1.20 1.00 0.81 0.95 0.67 1.06 0.89 1.01
EPS (Diluted) 0.90 1.17 1.52 1.03 1.10 1.07 1.01 1.14 0.98 1.11 0.89 0.91 0.91 0.78 1.39 0.83 0.81 0.78 0.74 0.66 0.68 0.63 0.61 0.58 -2.57 -0.55 0.61 0.55 0.61 0.52 0.62 0.55 0.61 0.31 0.29 0.26 0.19 0.17 0.21 -0.11 -0.20 -0.14 0.41 0.55 0.52 0.36 0.37 0.37 0.45 0.27 0.29 0.25 0.23 -1.20 1.00 0.81 0.95 0.67 1.06 0.89 1.01
Shares Outstanding 1,017 1,017 1,019 1,020 1,020 1,018 1,020 1,019 1,008 1,002 1,001 1,001 1,001 1,003 1,010 1,012 1,014.0 1,018 1,024 1,029 1,037 1,040 1,046 1,059 1,058 1,053.0 974 794 794 794 794 794 661 407 394 377 362 351 341 327.3 300 146 80 80.4 80.3 75.6 74.1 74 74 74 74 74 74 74 37.0 37.0 37.0 37.0 37.0 37.0 37.0
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
Current Assets
Cash & Cash Equivalents 1,506 2,137 1,765 1,386 2,534 1,519 2,426 2,501 385 1,048 960 755 393 238 121 298 42 13 39 8 24 15 28 67 57 15 41 7 93 76 39 9 6 9 3 293 265 239 208 35 4
Short-Term Investments 0 0 1,034 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1,773 1,643 1,568 1,555 1,750 1,544 1,572 1,482 1,526 1,562 1,574 1,374 1,410 1,479 1,640 1,519 1,571 1,316 1,267 1,154 1,187 1,164 1,085 1,162 1,119 1,279 1,246 668 749 706 770 657 630 452 472 457 453 419 395 369 346
Inventory 178 172 175 192 186 180 171 168 163 159 154 146 141 148 151 157 149 142 141 126 128 118 117 115 105 110 104 77 74 77 81 73 64 65 64 62 62 54 50 49 45
Other Current Assets 46 37 40 27 30 28 35 31 42 34 34 36 51 35 27 34 19 32 56 32 18 214 31 31 33 71 43 29 29 37 31 30 29 33 32 31 31 28 33 137 130
Total Current Assets 3,522 3,994 4,595 3,173 4,521 3,276 4,218 4,196 2,139 2,808 2,736 2,321 2,012 1,905 1,951 2,018 1,798 1,507 1,516 1,332 1,374 1,515 1,272 1,386 1,329 1,484 1,440 786 952 897 925 774 729 559 571 843 811 740 686 486 429
Non-Current Assets
Property, Plant & Equipment 22,499 22,213 21,624 19,689 19,657 19,653 19,650 19,694 19,816 19,755 19,118 19,201 19,260 19,359 19,427 20,296 20,421 20,539 20,670 20,879 21,522 21,758 22,169 22,330 22,412 22,742 22,490 15,508 15,078 14,639 14,271 13,642 13,291 12,187 11,922 11,638 11,411 10,730 10,537 10,360 10,195
Goodwill 8,736 8,755 8,732 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,645 7,657 7,657 7,657 7,657 7,657 7,657 7,657 7,722 7,722 9,536 10,735 2,581 2,581 2,586 2,586 2,460 2,460 2,245 2,245 2,245 2,245 2,199 2,199 2,199 2,200
Intangible Assets 1,359 1,397 1,443 497 529 518 551 585 618 654 609 641 673 705 736 768 800 831 864 896 927 959 991 1,023 1,055 1,270 1,309 405 414 424 434 435 444 453 463 473 482 492 501 511 520
Long-Term Investments 5,366 5,258 4,792 5,605 5,414 5,236 5,295 5,166 5,128 4,551 4,931 4,990 5,033 5,005 5,024 4,948 4,937 4,913 4,931 4,947 4,486 4,477 4,503 4,490 4,438 5,346 5,246 4,430 4,294 4,198 4,127 4,064 4,054 4,030 4,015 3,384 3,319 2,471 2,478 2,485 2,598
Other Non-Current Assets 1,451 1,388 2,041 1,232 1,206 1,183 1,156 1,116 1,115 1,116 1,081 1,075 1,049 1,046 1,029 113 114 60 61 62 64 48 70 71 50 52 61 36 265 35 36 37 28 26 22 18 17 14 14 (330) (346)
Total Non-Current Assets 39,411 39,011 38,632 34,668 34,451 34,235 34,297 34,206 34,322 33,721 33,384 33,552 33,660 33,760 33,861 33,770 33,929 34,000 34,183 34,441 34,656 34,899 35,390 35,636 35,677 38,946 39,841 22,960 22,632 21,882 21,454 20,638 20,277 18,941 18,667 17,758 17,474 15,906 15,729 15,593 15,549
Total Assets 42,933 43,005 43,227 37,841 38,972 37,511 38,515 38,402 36,461 36,529 36,120 35,873 35,672 35,665 35,812 35,788 35,727 35,507 35,699 35,773 36,030 36,414 36,662 37,022 37,006 40,430 41,281 23,746 23,584 22,779 22,379 21,412 21,006 19,500 19,238 18,601 18,285 16,646 16,415 16,079 15,978
Current Liabilities
Account Payables 126 108 131 149 145 147 120 127 132 153 132 128 139 224 289 681 214 172 1,754 847 375 367 387 405 365 1,153 673 318 263 365 311 445 289 281 469 237 212 198 175 102 105
Short-Term Debt 1,306 1,557 1,501 1,548 2,745 1,740 2,886 2,878 1,690 1,181 50 51 47 1,036 1,027 1,046 1,370 561 63 65 66 830 373 70 68 76 71 54 46 0 0 0 0 386 0 0 0 0 0 0 0
Deferred Revenue 96 107 118 113 109 106 89 88 89 81 74 81 87 80 72 73 80 77 92 91 98 97 74 75 53 59 50 39 45 51 49 41 43 48 45 42 41 36 35 38 35
Other Current Liabilities 1,664 1,477 1,478 1,211 1,170 1,242 1,172 1,133 1,049 1,209 1,143 1,056 1,039 1,061 1,111 941 1,194 2,538 812 724 657 792 697 678 728 844 1,438 637 675 770 844 793 544 551 490 472 428 437 423 17 14
Total Current Liabilities 3,192 3,249 3,502 3,069 4,169 3,235 4,267 4,226 2,960 2,624 1,399 1,316 1,312 2,401 2,499 2,741 2,858 3,348 2,721 1,727 1,196 2,086 1,531 1,228 1,214 2,132 2,232 1,048 1,029 1,186 1,204 1,279 876 1,304 1,048 790 712 704 670 650 1,045
Non-Current Liabilities
Long-Term Debt 24,383 24,151 24,145 19,725 19,721 19,250 19,250 19,245 18,805 19,291 20,417 20,405 20,393 18,801 18,797 18,775 18,757 18,065 18,253 19,234 20,052 19,366 20,042 20,556 20,467 19,694 19,179 14,028 13,832 13,392 12,889 11,874 11,861 6,945 6,848 6,666 6,654 4,422 4,411 4,400 4,715
Deferred Tax Liabilities 25 25 20 18 18 18 16 16 16 16 12 13 13 13 14 14 14 10 11 11 11 12 12 11 11 12 15 11 12 13 13 11 10 5 7 7 6 5 5 368 382
Other Non-Current Liabilities 338 352 356 124 128 125 137 141 133 126 119 113 114 142 130 167 159 170 155 151 112 115 184 175 175 192 193 195 426 197 205 188 183 188 175 170 168 169 151 1,169 563
Total Non-Current Liabilities 25,444 25,228 25,201 20,723 20,735 20,266 20,266 20,296 19,854 20,321 21,405 21,368 21,312 19,750 19,670 19,938 19,868 19,142 19,302 20,283 21,016 20,343 21,068 21,564 21,468 20,717 20,189 14,824 14,622 13,725 13,219 12,178 12,152 7,223 7,104 6,902 6,873 4,623 4,591 5,956 5,278
Total Liabilities 28,636 28,477 28,703 23,792 24,904 23,501 24,533 24,522 22,814 22,945 22,804 22,684 22,624 22,151 22,169 22,679 22,726 22,490 22,023 22,010 22,212 22,429 22,599 22,792 22,682 22,849 22,421 15,872 15,651 14,911 14,423 13,457 13,028 8,527 8,152 7,692 7,585 5,327 5,261 6,606 6,323
Stockholders' Equity
Common Stock 14,066 14,296 14,291 13,815 13,833 13,579 13,550 13,454 12,855 12,458 12,114 11,988 11,847 11,706 11,845 11,302 11,203 11,217 11,863 11,958 12,022 12,176 12,263 12,420 12,523 15,768 17,056 6,634 6,694 6,724 6,814 6,818 6,848 9,841 9,759 9,654 9,464 9,288 9,128 8,973 9,157
Retained Earnings 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (9,966) 0
Accumulated Other Comprehensive Income 5 5 5 5 5 (3) (3) (3) (3) (4) (4) (4) (4) (8) (8) (8) (8) (17) (17) (17) (17) (15) (16) (16) (16) (15) (15) (15) (15) (16) (16) (16) (16) (14) (14) 0 0 0 0 (893) (769)
Total Stockholders' Equity 14,071 14,301 14,296 13,820 13,838 13,779 13,750 13,653 13,413 13,349 13,080 12,952 12,811 13,480 13,405 12,870 12,761 12,776 13,433 13,520 13,574 13,740 13,816 13,983 14,076 17,332 18,610 7,624 7,683 7,712 7,801 7,805 7,832 10,827 10,745 10,654 10,464 10,288 10,128 9,473 9,655
Total Liabilities & Equity 42,933 43,005 43,227 37,841 38,972 37,511 38,515 38,408 36,461 36,529 36,120 35,873 35,672 35,665 35,812 35,788 35,727 35,507 35,699 35,773 36,030 36,414 36,662 37,022 37,006 40,430 41,281 23,746 23,584 22,779 22,379 21,412 21,006 19,500 19,238 18,601 18,285 16,646 16,415 16,079 15,978
Debt Metrics
Total Debt 26,134 26,162 26,089 21,713 22,915 21,436 22,578 22,573 20,951 20,914 20,912 20,910 20,888 20,302 20,292 20,299 20,583 19,066 18,764 19,760 20,577 20,678 20,903 21,130 21,049 20,312 19,801 14,524 14,094 13,392 12,889 11,874 11,861 7,331 6,848 6,666 6,654 4,422 4,411 4,400 4,715
Net Debt 24,628 24,025 24,324 20,327 20,381 19,917 20,152 20,072 20,566 19,866 19,952 20,155 20,495 20,064 20,171 20,001 20,541 19,053 18,725 19,752 20,553 20,663 20,875 21,063 20,992 20,297 19,760 14,517 14,001 13,316 12,850 11,865 11,855 7,322 6,845 6,373 6,389 4,183 4,203 4,365 4,711
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
Operating Activities
Net Income 911 1,203 1,555 1,058 1,136 1,099 1,037 1,186 1,015 1,144 928 942 952 824 1,437 884 833 838 811 706 748 700 674 655 (2,716) (573) 1,038 488 509 439 516 456 423 241 217 191 187 132 143 20 (37)
Depreciation & Amortization 358 355 346 324 326 324 322 320 317 306 301 310 296 305 302 310 313 316 324 318 329 385 346 321 325 338 491 214 211 201 201 188 176 168 164 164 187 139 138 137 132
Stock-Based Compensation 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2 4 3 5 15 5 5 7 17 6 5 4 10 4 3 3 6 3 4 2
Change in Working Capital (60) 22 (40) 313 (230) 186 (37) 170 (71) 90 (47) 171 (48) 181 (208) 266 (118) 18 12 218 (34) 50 166 100 (112) 26 (72) 79 (141) 37 (45) 145 (178) 106 42 50 (51) 35 28 10 16
Other Non-Cash Items 138 (90) (432) 41 14 72 93 (107) 30 (55) 62 15 27 59 (492) 27 93 69 33 128 81 50 36 29 3,512 (1) 30 53 9 64 22 (7) 18 60 23 29 27 12 7 16 26
Operating Cash Flow 1,347 1,496 1,431 1,736 1,246 1,675 1,415 1,565 1,291 1,492 1,244 1,437 1,227 1,368 1,039 1,487 1,125 1,240 1,182 1,365 1,124 1,185 1,222 1,105 1,009 1,092 1,036 834 618 799 737 840 450 569 494 467 377 356 339 298 295
Investing Activities
Capital Expenditure (575) (714) 568 (301) (267) (308) (280) (213) (255) (275) (230) (263) (169) (271) (241) (125) (169) (155) (139) (109) (126) (201) (274) (329) (379) (688) (836) (427) (457) (536) (521) (407) (455) (407) (352) (372) (280) (332) (305) (278) (291)
Acquisitions 18 61 (3,388) (348) (356) (42) (122) (35) (741) (245) (13) (26) (51) (19) (42) (74) (110) (35) (32) (49) (35) (22) (22) (131) (91) (219) (184) (177) (127) (126) (554) (74) (38) (71) (79) (86) (774) (31) (17) (10) (29)
Purchases of Investments (238) 0 0 0 0 0 0 0 0 (8) (13) (26) 0 (19) (42) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 20 0 0 0 0
Sales/Maturities of Investments 0 0 83 39 21 0 0 134 0 (1) 13 26 0 19 42 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 80 0 0 0 77
Other Investing Activities 4 731 100 8 1 0 (134) 0 0 1 7 18 0 10 18 64 3 49 39 3 71 21 13 45 108 33 270 4 9 3 2 17 3 8 (2) 7 1 (151) (1) 2 3
Investing Cash Flow (791) 78 (3,731) (602) (601) (349) (536) (114) (996) (528) (236) (271) (220) (280) (265) (135) (276) (141) (132) (155) (90) (202) (283) (415) (362) (874) (750) (600) (575) (659) (1,073) (464) (490) (470) (433) (451) (953) (363) (323) (286) (240)
Financing Activities
Net Debt Issuance (31) 0 3,801 (1,201) 1,477 (1,150) (1) 1,629 0 0 0 (1) 589 0 (20) (323) 57 380 (123) (343) (110) (222) (200) 74 150 468 384 233 425 430 886 113 4,569 85 372 0 2,240 0 (1) (326) (551)
Stock Repurchased (50) (100) 200 (100) (100) (100) (76) (75) (75) 0 0 0 0 (176) (180) (35) (100) (165) (155) (155) (155) 0 0 0 0 0 0 0 0 0 0 0 0 (10) 0 0 0 0 0 0 0
Dividends Paid (1,093) (1,095) (1,954) (976) (978) (980) (873) (874) (876) (877) (799) (799) (821) (799) (755) (735) (758) (1,345) (745) (729) (754) (742) (757) (749) (758) (724) (1,237) (543) (535) (526) (528) (484) (4,463) (336) (731) (280) (1,882) (249) (230) (201) (294)
Other Financing Activities (13) (7) (135) (5) (29) (3) (4) (15) (7) 1 (4) (4) (20) 4 4 (3) (19) 5 4 1 (6) (32) (21) (5) 3 12 74 233 249 (10) (3) (2) (58) 164 (7) (65) (1,040) 320 174 (483) 430
Financing Cash Flow (1,187) (1,202) 1,912 (2,282) 370 (2,233) (954) 665 (958) (876) (803) (804) (852) (971) (951) (1,096) (820) (1,125) (1,019) (1,226) (1,025) (996) (978) (680) (605) (244) (276) (320) (26) (103) 366 (373) 37 (97) (351) 12 607 33 157 19 (94)
Cash Position
Net Change in Cash (631) 372 (388) (1,148) 1,015 (907) (75) 2,116 (663) 88 205 (31) 155 117 (177) 256 29 (26) 31 (16) 9 (13) (39) 10 42 (26) 34 (86) 17 37 30 3 (3) 2 (290) 28 31 26 173 31 (39)
Cash at Beginning 2,137 1,765 1,386 2,534 1,519 2,426 2,501 385 1,048 960 755 393 238 121 298 42 13 39 8 24 15 28 67 57 15 41 7 93 76 39 9 6 9 3 293 265 234 208 35 4 43
Cash at End 1,506 2,137 998 1,386 2,534 1,519 2,426 2,501 385 1,048 960 362 393 238 121 298 42 13 39 8 24 15 28 67 57 15 41 7 93 76 39 9 6 5 3 293 265 234 208 35 4
Free Cash Flow 772 782 1,999 1,435 979 1,367 1,135 1,352 1,036 1,217 1,014 1,174 1,058 1,097 798 1,362 956 1,085 1,043 1,256 998 984 948 776 630 404 200 407 161 263 216 433 (5) 162 142 95 97 24 34 20 4
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
Income Statement
Revenue 2,863 3,097 3,619 2,788 2,887 2,840 2,776 2,684 2,604 2,675 2,714 2,496 2,549 2,501 2,743 2,796 2,501 2,594 2,442 2,299 2,240 2,109 2,137 1,965 2,111 2,245 2,152 2,096 2,132 1,625 1,619 1,503 1,332 1,013 933 889 856 692 807 756 617 257.1 195 193 183 131.9 130.7 126.8 130.7 118.9 118.2 116.1 109.9 108.6 116.2 105.6 97.5 104.1 109.3 102.8 94.4
Gross Profit 1,174 1,465 2,201 1,217 1,274 1,256 1,218 1,191 1,152 1,212 1,102 1,098 1,151 1,004 1,134 1,088 1,063 1,029 1,035 998 993 901 954 888 926 904 929 886 940 667 675 622 556 344 337 323 306 232 295 263 216 88.7 74 87 82 50.7 53.9 55 67.5 44.4 48.6 44.8 45.9 (13) 45.6 44.7 43.9 55.5 69.6 59 63.2
Operating Income 1,024 1,328 1,801 1,293 1,366 1,343 1,275 1,419 1,251 1,375 1,154 1,175 1,196 1,060 1,674 1,117 1,060 1,056 1,031 931 974 920 899 878 (2,486) (346) 926 885 912 666 672 608 557 335 311 280 265 197 258 128 50 50.1 68 82 74 38.5 44.2 44.3 56.3 36.5 39.8 35.2 35.5 42.5 36.3 29.5 34.9 24.6 39.1 31.7 36.6
Net Income 912 1,193 1,545 1,048 1,126 1,099 1,037 1,176 1,005 1,134 918 933 943 816 1,428 875 825 830 802 706 739 691 665 648 (2,724) (581) 629 482 503 434 510 453 421 238 216 190 150 133 141 19 (60) 17.7 41 51 46 29.2 29.1 28.8 34.2 20.2 21.5 18.6 17.6 (88.8) 36.9 29.8 35.2 24.7 39.3 32.8 37.2
EPS (Diluted) 0.90 1.17 1.52 1.03 1.10 1.07 1.01 1.14 0.98 1.11 0.89 0.91 0.91 0.78 1.39 0.83 0.81 0.78 0.74 0.66 0.68 0.63 0.61 0.58 -2.57 -0.55 0.61 0.55 0.61 0.52 0.62 0.55 0.61 0.31 0.29 0.26 0.19 0.17 0.21 -0.11 -0.20 -0.14 0.41 0.55 0.52 0.36 0.37 0.37 0.45 0.27 0.29 0.25 0.23 -1.20 1.00 0.81 0.95 0.67 1.06 0.89 1.01
Balance Sheet
Cash & Equivalents 1,506 2,137 1,765 1,386 2,534 1,519 2,426 2,501 385 1,048 960 755 393 238 121 298 42 13 39 8 24 15 28 67 57 15 41 7 93 76 39 9 6 9 3 293 265 239 208 35 4
Total Assets 42,933 43,005 43,227 37,841 38,972 37,511 38,515 38,402 36,461 36,529 36,120 35,873 35,672 35,665 35,812 35,788 35,727 35,507 35,699 35,773 36,030 36,414 36,662 37,022 37,006 40,430 41,281 23,746 23,584 22,779 22,379 21,412 21,006 19,500 19,238 18,601 18,285 16,646 16,415 16,079 15,978
Total Debt 26,134 26,162 26,089 21,713 22,915 21,436 22,578 22,573 20,951 20,914 20,912 20,910 20,888 20,302 20,292 20,299 20,583 19,066 18,764 19,760 20,577 20,678 20,903 21,130 21,049 20,312 19,801 14,524 14,094 13,392 12,889 11,874 11,861 7,331 6,848 6,666 6,654 4,422 4,411 4,400 4,715
Stockholders' Equity 14,071 14,301 14,296 13,820 13,838 13,779 13,750 13,653 13,413 13,349 13,080 12,952 12,811 13,480 13,405 12,870 12,761 12,776 13,433 13,520 13,574 13,740 13,816 13,983 14,076 17,332 18,610 7,624 7,683 7,712 7,801 7,805 7,832 10,827 10,745 10,654 10,464 10,288 10,128 9,473 9,655
Cash Flow
Operating Cash Flow 1,347 1,496 1,431 1,736 1,246 1,675 1,415 1,565 1,291 1,492 1,244 1,437 1,227 1,368 1,039 1,487 1,125 1,240 1,182 1,365 1,124 1,185 1,222 1,105 1,009 1,092 1,036 834 618 799 737 840 450 569 494 467 377 356 339 298 295
Capital Expenditure (575) (714) 568 (301) (267) (308) (280) (213) (255) (275) (230) (263) (169) (271) (241) (125) (169) (155) (139) (109) (126) (201) (274) (329) (379) (688) (836) (427) (457) (536) (521) (407) (455) (407) (352) (372) (280) (332) (305) (278) (291)
Free Cash Flow 772 782 1,999 1,435 979 1,367 1,135 1,352 1,036 1,217 1,014 1,174 1,058 1,097 798 1,362 956 1,085 1,043 1,256 998 984 948 776 630 404 200 407 161 263 216 433 (5) 162 142 95 97 24 34 20 4