Novartis AG logo NVS - Novartis AG

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY 0
BUY 6
HOLD 17
SELL 2
STRONG
SELL 0
| PRICE TARGET: $170.00 DETAILS
HIGH: $170.00
LOW: $170.00
MEDIAN: $170.00
CONSENSUS: $170.00
UPSIDE: 6.35%
Annual Quarterly
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
Revenue
Revenue 54,811.3 51,722 46,660 43,461 43,974 49,898 48,677 46,099 43,404 49,436 50,387 53,634 52,716 51,971 59,375 51,561 45,103 42,584 38,947 35,105 29,753 27,277 24,930 20,877 18,762 22,185 20,385 23,039.2
Cost of Revenue 13,689.7 12,827 12,472 11,582 11,735 15,121 14,425 14,510 13,633 17,520 17,404 17,345 16,579 15,866 18,983 14,488 12,179 11,439 11,032 9,411 7,439 6,700 6,457 4,994 4,744 6,346 5,220 7,305.2
Gross Profit 41,121.5 38,895 34,188 31,879 32,239 34,777 34,252 31,589 29,771 31,916 32,983 36,289 36,137 36,105 40,392 37,073 32,924 31,145 27,915 25,694 22,314 20,577 18,473 15,883 14,018 15,839 15,165 15,734.0
Operating Expenses
R&D Expenses 10,741.7 10,022 11,371 9,172 8,641 8,980 9,402 8,489 8,389 9,039 8,935 9,086 9,071 8,588 9,583 9,070 7,469 7,217 6,430 5,321 4,797 4,152 3,729 2,843 2,528 2,885 2,666 2,838.7
SG&A Expenses 13,305.8 12,566 12,517 12,193 12,827 14,197 14,369 13,717 12,465 14,192 14,247 14,993 15,241 15,117 18,049 15,797 14,331 14,097 13,259 11,974 10,633 9,989 9,235 7,883 7,165 8,069 6,941 7,866.3
Other Expenses 0 1,763 531 2,568 715 1,448 1,395 980 215 417 824 1,121 842 893 1,980 680 1,142 867 1,445 757 377 319 (126) 65 0 1 948 0
Operating Expenses 24,047.5 24,351 24,419 23,933 22,183 24,625 25,166 23,186 21,069 23,648 24,006 25,200 25,154 24,598 29,612 25,547 22,942 22,181 21,134 18,052 15,807 14,460 12,838 10,791 9,693 10,955 10,555 10,704.9
Operating Income
Operating Income 17,074.0 14,544 9,769 7,946 10,056 10,152 9,086 8,403 8,702 8,268 8,977 11,089 10,983 11,507 10,780 11,526 9,982 8,964 6,781 7,642 6,507 6,117 5,635 5,092 4,325 4,884 4,610 5,029.1
Interest Expense 1,187.0 1,036.4 876.1 834.6 905 921 902.9 973.2 802 729 691.5 701 664 655 691.7 610.0 440.3 249 237 266 294 259.5 243 259 218 0 0 0
Interest Income 374.9 567.7 629.2 377.7 71 91 245.3 292.7 110 43 33.0 33 34 50 61.4 102.2 155.4 306 423 367 405 385.8 323 416 293 0 0 0
Profitability
EBITDA 22,987.1 20,715 18,255 14,682 30,914 17,211 15,616 20,238 14,588 14,567 14,260 17,658 15,895 16,402 17,094 15,813 12,774 12,459 10,582 10,183 8,782 7,970 7,260 7,187 5,947 5,625 5,558 6,037.8
EBIT 17,634.8 14,646 9,978 7,977 25,317 10,747 9,790 15,027 9,852 8,524 8,789 12,976 11,490 11,960 11,306 12,394 10,473 9,789 7,724 8,260 7,161 6,671 5,977 5,892 4,910 4,884 4,610 5,029.1
Income Before Tax 16,435.7 13,640 9,123 7,177 24,530 9,878 8,940 14,095 9,102 7,817 8,134 12,272 10,807 11,236 10,555 11,702 9,922 9,499 7,487 7,994 6,867 6,410 5,734 5,698 4,692 5,595 5,332 5,754.4
Income Tax Expense 2,397.2 1,701 551 1,128 1,625 1,807 1,793 1,295 1,603 1,119 1,106 1,545 1,498 1,706 1,483 1,733 1,468 1,336 947 1,169 986 1,045 947 959 844 1,128 1,151 1,367.7
Net Income 14,055.6 11,941 14,850 6,955 24,021 8,072 11,732 12,611 7,703 6,712 17,783 10,210 9,175 9,270 8,940 9,794 8,400 8,195 11,946 7,175 6,130 5,365 4,743 4,725 3,836 4,467 4,181 4,367.7
Per Share Data
EPS (Basic) 7.25 5.92 7.15 3.19 10.71 3.54 3.12 5.44 3.28 2.82 7.40 4.21 3.76 3.93 3.75 4.28 3.70 3.62 5.15 3.06 2.63 2.28 1.99 1.88 1.49 1.70 0.62 0.33
EPS (Diluted) 7.19 5.87 7.10 3.17 10.63 3.52 3.08 5.38 3.25 2.80 7.29 4.13 3.70 3.89 3.70 4.26 3.69 3.59 5.13 3.04 2.62 2.27 1.97 1.84 1.49 1.70 0.62 0.33
Shares Outstanding 1,939.0 2,018.3 2,076.8 2,181.2 2,242.6 2,277.0 2,290.8 2,319.3 2,345.8 2,378.5 2,402.8 2,426 2,441 2,418 2,382 2,286 2,267.9 2,265.5 2,317.5 2,345.2 2,332.8 2,355.5 2,380.1 2,515.3 2,571.7 2,632.3 2,624.7 2,739.2
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
Current Assets
Cash & Cash Equivalents 11,435.0 11,459 13,393 7,517 12,407 9,658 11,112.0 13,271 8,860 7,007 4,674 13,023 6,687 5,552 3,709 5,319 2,894 2,038 5,360 3,815 6,321 6,083 5,646 5,813 6,727 5,368 3,950 5,060.3
Short-Term Investments 155 1,892 569 11,098 15,706 1,905 334.0 2,693 625 770 773 839 2,535 2,567 1,366 2,815 14,555 4,079 7,841 4,140 4,612 8,510 7,613 6,762 6,456 7,146 6,319 4,631.5
Net Receivables 10,934.0 8,211 9,376 9,894 9,621 9,073 9,172.0 9,676 10,070 10,202 10,551 10,255 12,623 12,533 12,373 11,716 10,010 8,573 8,504 7,971 6,563 6,189 5,480 3,707 3,228 3,221 4,429 4,225.3
Inventory 6,269.0 5,723 5,913 7,175 6,666 7,131 5,982.0 6,956 6,867 6,255 6,226 6,093 7,267 6,744 5,930 6,093 5,830 5,792 5,455 4,498 3,725 3,558 3,346 2,971 2,482 2,513 4,331 4,865.6
Other Current Assets 514 1,434 466 315 216 963 2,006.0 3,234 1,030 0 0 6,801 759 0 0 0 0 0 0 736 0 701 0 1,275 1,747 1,836 2,782 2,379.4
Total Current Assets 30,460.1 29,704 30,481 36,910 45,718 29,673 29,503.9 35,563 28,208 24,931 22,845 37,561 30,542 28,004 24,084 26,685 33,691 20,881 27,430 21,404 21,443 24,611 22,273 20,870 20,640 20,084 21,811 21,162.1
Non-Current Assets
Property, Plant & Equipment 12,352.0 10,873 10,924 12,195 13,106 13,939 13,745.9 15,696 16,464 15,641 15,982 15,983 18,197 16,939 15,627 15,840 14,075 13,100 12,633 10,945 8,679 8,497 7,597 6,338 5,468 5,507 7,337 8,237.6
Goodwill 25,567.0 24,756 23,341 29,301 29,595 29,999 26,523.9 35,294 31,750 30,980 31,174 29,311 31,026 31,090 29,943 29,692 12,039 11,285 11,110 10,659 7,279 1,899 1,477 0 0 0 0 0
Intangible Assets 29,411.1 26,915 26,879 31,644 34,182 36,809 28,786.9 38,719 29,997 31,340 34,217 23,832 27,841 30,331 31,969 35,231 10,331 9,534 10,139 10,571 6,015 3,730 3,231 4,407 3,952 3,555 2,021 4,225.3
Long-Term Investments 2,304.0 1,128 1,827 1,606 2,268 12,444 11,003.0 10,697 17,613 16,500 27,338 18,700 18,648 17,852 9,598 9,242 18,838 18,894 8,264 10,526 10,915 13,543 12,338 0 0 0 0 4,808.9
Other Non-Current Assets 5,417.0 4,511 2,184 2,058 3,183 981 897.0 895 818 698 (8,957) (7,994) (7,375) (7,390) 418 1,388 1,916 182 2,309 0 0 0 0 11,345 8,293 6,338 10,043 1,852.5
Total Non-Current Assets 85,109.1 72,542 69,464 80,543 86,077 102,516 88,908.6 110,000 104,871 105,193 108,711 87,826 95,712 96,212 93,412 96,633 61,814 57,418 48,022 46,604 36,289 29,858 27,044 24,274 19,665 15,400 19,401 19,052.3
Total Assets 115,569.2 102,246 99,945 117,453 131,795 132,189 118,412.5 145,563 133,079 130,124 131,556 125,387 126,254 124,216 117,496 123,318 95,505 78,299 75,452 68,008 57,732 54,469 49,317 45,144 40,305 35,484 41,212 40,214.4
Current Liabilities
Account Payables 4,456.0 4,572 4,926 5,146 5,553 5,403 5,424.0 5,556 5,169 4,873 5,668 5,419 6,148 5,593 4,989 4,788 4,012 3,395 3,018 2,487 1,961 2,020 1,665 1,266 1,092 986 1,238 1,117.0
Short-Term Debt 5,784.0 8,089 6,084 5,876 6,227 9,877 7,092.0 9,620 5,201 5,905 5,604 6,612 6,776 5,945 6,344 8,583 5,233 4,857 4,916 6,560 6,890 3,822 2,280 2,510 3,062 2,341 4,704 4,415.0
Deferred Revenue 0 127 98 123 123 56 114.0 236 305 287 385 329 70 71 70 79 90 88 91 77 74 13 14 14 158 0 0 0
Other Current Liabilities 12,818.0 10,384 9,837 11,206 12,440 12,979 10,976.0 9,630 8,678 9,151 10,119 10,321 8,274 7,888 7,144 6,518 5,541 4,381 3,831 3,415 2,589 1,953 1,722 904 2,175 1,738 5,010 5,015.3
Total Current Liabilities 27,278.0 28,692 26,390 28,656 30,208 33,059 28,263.9 29,607 23,403 22,209 23,708 26,973 26,368 24,051 23,148 24,658 19,470 16,504 16,641 16,234 15,328 11,078 9,320 8,294 8,587 7,097 10,952 10,547.2
Non-Current Liabilities
Long-Term Debt 29,592.1 21,366 18,436 20,244 22,902 26,259 20,352.9 22,470 23,224 17,897 16,327 13,799 11,242 13,781 13,855 14,360 8,675 2,178 677 656 1,319 2,736 3,191 2,736 1,504 1,392 1,537 2,063.2
Deferred Tax Liabilities 8,017.0 2,419 2,248 2,686 3,070 7,552 5,910.0 7,475 5,168 6,657 6,355 6,099 6,904 7,286 6,761 7,689 4,407 4,144 4,466 5,290 3,472 3,384 3,138 2,828 2,345 2,127 2,293 2,061.8
Other Non-Current Liabilities 2,476.0 4,075 4,523 4,906 6,172 6,934 6,632.0 8,846 6,554 8,033 7,738 7,011 7,924 1,217 1,267 1,248 623 526 465 638 559 862 766 2,876 2,311 2,344 2,885 2,884.4
Total Non-Current Liabilities 41,742.1 29,428 26,805 29,374 33,765 42,464 34,597.9 37,264 35,449 33,024 30,726 27,570 25,414 30,946 28,408 28,891 18,573 11,358 9,415 10,480 9,240 9,470 9,478 8,440 6,160 5,863 6,715 7,009.4
Total Liabilities 69,020.1 58,120 53,195 58,030 63,973 75,523 62,861.7 66,871 58,852 55,233 54,434 54,543 51,782 54,997 51,556 53,549 38,043 27,862 26,056 26,714 24,568 20,548 18,798 16,734 14,747 12,960 17,667 17,556.7
Stockholders' Equity
Common Stock 766.0 793 825 890 901 913 936.0 944 969 972 991 1,001 1,001 1,001 1,016 957 957 959 990 990 994 1,008 1,017 1,008 871 880 908 1,048.7
Retained Earnings 44,720.1 46,561 49,649 63,540 70,989 57,157 59,274.7 82,191 77,639 81,148 80,379 72,433 73,065 70,220 64,949 62,364 56,562 49,825 48,408 40,261 32,142 32,902 29,533 26,978 22,954 21,682 22,580 21,521.1
Accumulated Other Comprehensive Income 694.0 (3,255) (3,766) (4,996) (4,187) (1,419) (4,657.0) 77,739 73,299 73,936 76,156 69,868 73,431 68,184 64,949 62,364 56,562 49,468 48,408 40,261 32,142 32,902 29,533 (2,631) (823) (5,196) (7,136) 0
Total Stockholders' Equity 46,130.1 44,046 46,667 59,342 67,655 56,598 55,473.8 78,614 74,168 74,832 77,046 70,766 74,343 69,093 65,844 63,196 57,387 50,288 49,223 41,111 32,990 33,783 30,429 28,344 25,495 22,477 23,406 22,516.7
Total Liabilities & Equity 115,569.2 102,246 99,945 117,453 131,795 132,189 118,412.5 145,563 133,079 130,124 131,556 125,387 126,254 124,216 117,496 123,318 95,505 78,299 75,452 68,008 57,732 54,469 49,317 45,144 40,305 35,484 41,212 40,214.4
Debt Metrics
Total Debt 37,033.1 31,258 26,348 27,909 31,025 37,855 29,147.9 32,090 28,425 23,802 21,931 20,411 18,018 19,726 20,199 22,943 13,908 7,035 5,593 7,216 8,209 6,558 5,471 5,585 4,566 3,696 6,241 6,235.5
Net Debt 25,598.0 19,799 12,955 20,392 18,618 28,197 18,035.9 18,819 19,565 16,795 17,257 7,388 11,331 14,174 16,490 17,624 11,014 4,997 233 3,401 1,888 475 (175) (228) (2,161) (1,672) 2,291 1,175.1
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
Operating Activities
Net Income 14,055.6 11,939 8,572 6,049 22,905 8,071 7,147 12,614 7,703 6,698 7,028 10,727 9,292 9,618 9,245 9,969 8,454 8,163 6,540 7,019 6,141 5,767 5,016 5,224 4,239 4,395 4,188 4,407.0
Depreciation & Amortization 5,352.3 6,069 8,277 6,705 5,597 6,464 5,826 6,892 6,076 6,043 5,575 4,751 4,990 4,954 5,788 3,419 2,301 2,670 2,858 1,987 1,717 1,339 1,283 690 585 918 949 1,008.7
Stock-Based Compensation 0 1,044 865 791 700 738 758 759 683 671 773 744 730 746 790 655 642 567 570 522 415 0 0 0 0 0 0 0
Change in Working Capital (3,075.7) (706) (369) (796) (73) (291) 199 499 244 (77) (863) (625) (739) (140) (113) 1,762 688 (630) (535) 166 872 132 457 (126) 124 (202) (618) (670.1)
Other Non-Cash Items 3,271.7 (2,428) (3,438) 359 (15,683) (3,139) (2,098) (7,713) (3,381) (2,979) (1,722) (3,245) (2,542) (2,609) (2,929) (3,471) (1,362) (2,337) (1,170) (2,266) (2,189) (358) (521) 42 (517) (470) (184) (468.0)
Operating Cash Flow 19,242.0 17,619 14,458 14,236 15,071 13,650 13,625 14,272 12,621 11,475 11,897 13,897 13,174 14,194 14,309 14,067 12,191 9,769 9,210 8,710 8,080 6,725 6,652 5,830 4,431 4,641 4,335 4,277.6
Investing Activities
Capital Expenditure (1,555.9) (3,814) (2,753) (2,239) (2,556) (2,585) (2,257) (3,355) (2,746) (2,879) (3,851) (3,703) (3,775) (3,305) (2,387) (2,232) (2,733) (2,316) (3,133) (2,322) (1,548) (1,450) (1,543) (1,186) (815) (825) (862) (1,129.4)
Acquisitions (3,006.3) (3,825) (3,569) (864) 20,464 (9,964) (3,766) (1,068) (755) (765) (16,507) (331) (42) (1,741) (581) (26,666) (1,006) (11,526) (62) (4,523) (8,866) (1,031) (402) (605) (102) (836) 107 170.8
Purchases of Investments (304.6) (3,648) (747) (34,810) (16,591) (2,130) (530) (2,702) (1,048) (777) (859) (408) (443) (1,123) (1,937) (40,708) (14,341) (4,156) (7,543) (5,561) (4,823) (8,062) (10,923) (7,383) 166 212 (1,104) 0
Sales/Maturities of Investments 2,188.1 3,701 11,596 39,490 2,738 1,215 3,713 639 879 869 428 2,517 564 737 3,409 53,269 3,762 7,404 4,253 5,631 7,432 7,011 10,511 7,860 1,553 2,951 180 0
Other Investing Activities 140.7 (2,375) (624) (1,432) (1,337) 282 (264) 895 551 111 10,005 2,806 344 (243) 704 581 99 227 241 200 323 313 1,059 (1,868) (3,623) (1,633) (218) 8.7
Investing Cash Flow (4,902.0) (7,513) 5,596 1,468 4,208 (13,182) (2,226) (5,591) (3,119) (3,441) (10,784) 881 (3,352) (5,675) (792) (15,756) (14,219) (10,367) (6,244) (6,575) (7,482) (3,219) (1,298) (3,182) (2,821) (131) (1,897) (949.9)
Financing Activities
Net Debt Issuance 2,724.9 4,390 (1,935) (2,585) (5,670) 7,072 (4,957) 4,177 4,101 2,055 1,961 3,318 (1,333) (462) (2,771.9) 8,279 6,539 1,295 (2,159) (2,869) 2,032 683 (278) 591 939 (946) (293) (1,652.6)
Stock Repurchased (9,259.2) (8,331) (8,719) (10,652) (3,057) (2,842) (5,533) (2,036) (5,490) (1,109) (6,071) (6,915) (2,930) (505) (3,628) (311) (461) (3,348) (6,448) (399) (231) (1,820) (306) (3,228) (2,322) (722) (1,205) (15.3)
Dividends Paid (7,858.0) (7,624) (7,255) (7,506) (7,368) (6,987) (6,645) (6,966) (6,495) (6,475) (6,643) (6,810) (6,100) (6,030) (5,368) (4,486) (3,941) (3,345) (2,598) (2,049) (2,107) (1,968) (1,724) (1,639) (1,324) (1,259) (1,217) 0
Other Financing Activities (577.9) (177) 3,631 181 (169) 549 3,508 581 151 215 1,577 2,260 1,594 (92) (3,510.9) (96) (52) (50) 38 (267) (31) 47 (3,489) 235 2,416 1 (4) (3,423.7)
Financing Cash Flow (14,943.1) (11,742) (14,278) (20,562) (16,264) (2,208) (13,627) (4,244) (7,733) (5,314) (9,176) (8,147) (8,769) (6,675) (15,024) 4,116 2,809 (2,573) (9,318) (4,970) (266) (3,124) (5,764) (4,726) (214) (2,900) (2,717) (4,551.6)
Cash Position
Net Change in Cash (24.0) (1,934) 5,876 (4,890) 2,749 (1,454) (2,159) 4,411 1,853 2,333 (8,349) 6,336 1,135 1,843 (1,610) 2,425 856 (3,322) 1,545 (2,506) 238 437 (152) (2,149) 1,414 1,537 (233) (1,246.4)
Cash at Beginning 11,459.0 13,393 7,517 12,407 9,658 11,112 13,271 8,860 7,007 4,674 13,023 6,687 5,552 3,709 5,319 2,894 2,038 5,360 3,815 6,321 6,083 5,646 5,798 7,962 5,313 3,831 4,183 6,306.7
Cash at End 11,435.0 11,459 13,393 7,517 12,407 9,658 11,112 13,271 8,860 7,007 4,674 13,023 6,687 5,552 3,709 5,319 2,894 2,038 5,360 3,815 6,321 6,083 5,646 5,813 6,727 5,368 3,950 5,060.3
Free Cash Flow 17,686.1 13,805 11,705 11,997 12,515 11,065 11,368 10,917 9,875 8,596 8,046 10,194 9,399 10,889 11,922 11,835 9,458 7,453 6,077 6,388 6,532 5,275 5,109 4,644 3,616 3,816 3,473 3,148.3
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
Income Statement
Revenue 54,811.3 51,722 46,660 43,461 43,974 49,898 48,677 46,099 43,404 49,436 50,387 53,634 52,716 51,971 59,375 51,561 45,103 42,584 38,947 35,105 29,753 27,277 24,930 20,877 18,762 22,185 20,385 23,039.2
Gross Profit 41,121.5 38,895 34,188 31,879 32,239 34,777 34,252 31,589 29,771 31,916 32,983 36,289 36,137 36,105 40,392 37,073 32,924 31,145 27,915 25,694 22,314 20,577 18,473 15,883 14,018 15,839 15,165 15,734.0
Operating Income 17,074.0 14,544 9,769 7,946 10,056 10,152 9,086 8,403 8,702 8,268 8,977 11,089 10,983 11,507 10,780 11,526 9,982 8,964 6,781 7,642 6,507 6,117 5,635 5,092 4,325 4,884 4,610 5,029.1
Net Income 14,055.6 11,941 14,850 6,955 24,021 8,072 11,732 12,611 7,703 6,712 17,783 10,210 9,175 9,270 8,940 9,794 8,400 8,195 11,946 7,175 6,130 5,365 4,743 4,725 3,836 4,467 4,181 4,367.7
EPS (Diluted) 7.19 5.87 7.10 3.17 10.63 3.52 3.08 5.38 3.25 2.80 7.29 4.13 3.70 3.89 3.70 4.26 3.69 3.59 5.13 3.04 2.62 2.27 1.97 1.84 1.49 1.70 0.62 0.33
Balance Sheet
Cash & Equivalents 11,435.0 11,459 13,393 7,517 12,407 9,658 11,112.0 13,271 8,860 7,007 4,674 13,023 6,687 5,552 3,709 5,319 2,894 2,038 5,360 3,815 6,321 6,083 5,646 5,813 6,727 5,368 3,950 5,060.3
Total Assets 115,569.2 102,246 99,945 117,453 131,795 132,189 118,412.5 145,563 133,079 130,124 131,556 125,387 126,254 124,216 117,496 123,318 95,505 78,299 75,452 68,008 57,732 54,469 49,317 45,144 40,305 35,484 41,212 40,214.4
Total Debt 37,033.1 31,258 26,348 27,909 31,025 37,855 29,147.9 32,090 28,425 23,802 21,931 20,411 18,018 19,726 20,199 22,943 13,908 7,035 5,593 7,216 8,209 6,558 5,471 5,585 4,566 3,696 6,241 6,235.5
Stockholders' Equity 46,130.1 44,046 46,667 59,342 67,655 56,598 55,473.8 78,614 74,168 74,832 77,046 70,766 74,343 69,093 65,844 63,196 57,387 50,288 49,223 41,111 32,990 33,783 30,429 28,344 25,495 22,477 23,406 22,516.7
Cash Flow
Operating Cash Flow 19,242.0 17,619 14,458 14,236 15,071 13,650 13,625 14,272 12,621 11,475 11,897 13,897 13,174 14,194 14,309 14,067 12,191 9,769 9,210 8,710 8,080 6,725 6,652 5,830 4,431 4,641 4,335 4,277.6
Capital Expenditure (1,555.9) (3,814) (2,753) (2,239) (2,556) (2,585) (2,257) (3,355) (2,746) (2,879) (3,851) (3,703) (3,775) (3,305) (2,387) (2,232) (2,733) (2,316) (3,133) (2,322) (1,548) (1,450) (1,543) (1,186) (815) (825) (862) (1,129.4)
Free Cash Flow 17,686.1 13,805 11,705 11,997 12,515 11,065 11,368 10,917 9,875 8,596 8,046 10,194 9,399 10,889 11,922 11,835 9,458 7,453 6,077 6,388 6,532 5,275 5,109 4,644 3,616 3,816 3,473 3,148.3