Pan American Silver Corp. logo PAAS - Pan American Silver Corp.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 13
HOLD 10
SELL 2
STRONG
SELL
0
| PRICE TARGET: $74.40 DETAILS
HIGH: $94.00
LOW: $54.00
MEDIAN: $72.00
CONSENSUS: $74.40
UPSIDE: 37.93%
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 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Revenue
Revenue 1,154 1,197.4 854.6 811.9 773.2 815.1 716.1 686.3 601.4 669.6 616.3 639.9 390.3 375.5 338.9 340.5 439.9 422.2 460.3 382.1 368.1 430.5 300.4 249.5 358.4 404.4 352.2 340.5 253.7 173.4 187.7 216.5 207.0 226.0 190.8 201.3 198.7 190.6 233.6 192.3 158.3 163.0 159.4 174.2 178.1 163.1 178.3 200.8 209.7 192.4 213.6 175.6 243.0 247.3 251.8 200.6 228.8 212.4 220.6 231.9 190.5 191.1 164.5 150.6 135.8 154.4 118.6 111.4 70.4 46.3 79.5 104.1 108.8 85.9 87.9 79.2 48.1 82.6 64.3 62.8 45.7 41.4 30.1 25.4 29.1 865.4 27.4 20.9 15.2 12.9 12.6 12.1 11.6 10.9 8.1 4.5 8.6 7.0 7.0 7.3
Cost of Revenue 546 632.2 541.6 538.6 522.4 630.2 540.4 569.4 530.4 582.5 573.8 578.8 335.1 350.9 373.4 384.4 382.8 355.4 369.0 286.8 285.4 300.0 203.0 253.3 324.4 313.8 294.7 295.3 241.4 178.0 192.1 161.6 151.8 182.7 143.0 156.5 165.8 141.6 145.2 147.5 141.6 170.7 185.4 175.1 175.5 184.5 190.6 190.6 178.2 173.4 179.6 171.8 168.2 162.3 186.4 149.1 126.9 124.1 114.4 113.2 94.5 124.4 103.2 98.3 98.0 107.0 83.9 87.9 59.9 45.9 64.0 64.8 60.4 50.8 49.3 41.5 29.5 45.8 33.1 28.2 25.5 26.5 21.7 19.3 23.8 23.9 19.7 17.7 11.7 11.8 11.8 12.3 11.1 12.6 9.3 5.0 8.2 6.4 6.7 7.1
Gross Profit 608 565.3 313 273.3 250.8 184.9 175.7 116.9 71 87.1 42.5 61.1 55.2 24.6 (34.5) (43.9) 57.1 66.8 91.4 95.3 82.7 130.4 97.4 (3.8) 34.0 90.6 57.5 45.2 12.3 (4.7) (4.4) 54.9 55.1 43.3 47.8 44.8 32.9 49.0 88.5 44.7 16.7 (7.8) (26.0) (1.0) 2.6 (21.4) (12.4) 10.2 31.6 19.0 33.9 3.8 74.8 85.0 65.4 51.5 101.9 88.3 106.2 118.6 96.0 91.2 61.3 52.3 37.8 47.4 34.7 23.5 10.5 0.4 15.5 39.3 48.4 35.1 38.6 37.7 18.5 36.8 31.2 34.6 20.2 14.9 8.4 6.1 5.3 841.5 7.7 3.3 3.5 1.1 0.7 (0.2) 0.5 (1.7) (1.2) (0.5) 0.5 0.6 0.3 0.2
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 0 9.8 0 0 0 2.5 2.2 0.6 0 1.5 1.0 0.7 0 0 0 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 39 39.1 31.4 21.6 24.5 6.3 17.4 23.7 22.4 18.5 15 17.5 10.4 3.0 6.8 8.4 11 8.3 9.1 9.5 8.1 10.7 10.4 8.7 6.6 10.0 8.2 7.6 5.9 5.5 5.7 5.6 6.0 4.7 5.6 5.3 5.8 5.6 5.2 7.1 5.7 5.9 1.6 4.8 5.7 3.1 3.6 5.7 5.6 3.2 3.9 4.6 5.9 4.6 4.6 6.1 5.5 5.1 4.9 4.6 3.7 8.8 3.4 4.7 3.2 6.6 4.4 2.5 2.3 5.5 2.3 3.8 1.6 6.0 1.9 2.7 1.9 2.1 2.7 2.4 1.9 1.6 2.1 1.8 1.6 2.1 1.5 2.2 1.5 4.1 1.4 0.7 0.5 0.4 0.5 0.6 0.6 0.7 0.6 0.5
Other Expenses 9 57.2 31.9 7.8 (1.9) (76) 6.4 3.8 13.8 73.2 (16.6) 50.3 17.3 169.6 9.8 101.5 (44.5) 5.8 (18.8) (7.9) 1.4 (13.6) 2.8 5.8 16.7 58.8 10.3 3.0 5.1 43.6 4.8 (6.9) (6.0) (52.0) 11.9 2.1 (3.0) (2.1) 1.8 (12.4) 3.5 130.2 40.6 0.7 8.4 605.7 10.7 (1.7) 8.3 325.9 3.0 197.0 26.7 103.8 8.1 2.4 17.5 (3.5) 15.2 5.4 1.6 (24.8) (0.7) 12.9 4.4 (3.2) 0.8 5.1 0.7 25.7 0.7 0.7 0.7 6.0 10.3 7.8 4.9 3.8 4.8 4.8 4.1 31.4 4.5 2.8 3.7 5.3 3.4 2.3 2.6 2.0 0.5 12.8 1.4 1.3 1.0 0.7 5.8 38.2 0.7 0.6
Operating Expenses 48 96.3 63.3 29.4 22.6 (69.7) 23.8 27.5 36.2 91.7 (1.6) 67.8 27.7 172.6 16.6 109.9 (33.5) 14.1 (9.8) 1.5 9.4 (2.9) 13.2 14.5 23.3 68.8 18.6 10.6 11.0 49.1 10.5 (1.3) (0.0) (47.2) 17.5 7.4 2.8 3.5 7.0 (5.3) 9.2 136.1 42.3 5.5 14.1 608.7 14.3 4.0 13.9 329.1 6.9 201.6 32.5 108.4 12.7 8.5 23.0 1.6 20.1 10.0 5.4 (16.0) 12.5 17.5 7.6 3.4 7.8 9.8 3.6 31.1 4.5 5.4 3.0 12.0 12.2 10.4 6.7 5.9 7.6 7.2 6.0 32.9 6.6 4.6 5.3 7.4 4.9 4.5 4.2 6.1 1.8 13.5 1.9 1.6 1.5 1.3 6.4 38.9 1.3 1.1
Operating Income
Operating Income 560 469.0 249.7 243.9 228.2 254.6 151.9 89.4 34.8 (4.6) 44.1 (6.7) 27.5 (148.0) (51.1) (153.8) 90.6 52.7 101.1 93.8 73.3 133.4 84.2 (18.3) 10.7 21.8 38.9 34.7 1.3 (53.7) (14.9) 56.2 55.2 90.5 30.3 37.4 30.1 45.5 81.4 50.1 7.5 (143.9) (68.3) (6.5) (11.4) (630.1) (26.6) 6.2 17.7 (310.2) 27.0 (197.7) 42.3 (23.4) 52.7 43.0 78.9 86.7 86.1 108.6 90.7 82.7 48.8 34.7 30.2 44.0 27.0 13.7 6.9 (30.7) 11.0 33.8 45.4 23.1 26.4 27.3 11.8 30.9 23.6 27.4 14.2 (18.0) 1.8 1.5 (0.0) 834.1 2.8 (1.2) (0.7) (5.0) (1.1) (13.7) (1.4) (3.3) (2.7) (1.8) (5.9) (38.3) (0.9) (0.9)
Interest Expense 24 16.1 14.2 14.7 13.0 14.8 13.0 12.8 12.4 16.8 17.6 20.1 3.3 2.7 1.8 1.6 1.5 1.6 3.4 1.7 2.0 2.5 2.3 2.8 4.1 5.8 5.5 5.6 2.7 0.5 0.7 0 0.7 0.9 1.0 0 0.9 1.6 1.0 0.5 0.5 1.2 0 1.2 1.3 0.4 0.2 2.7 1.8 0.3 3.2 2.5 0.7 3.3 1.3 1.4 1.6 1.9 1.7 1.2 1.4 0.8 1.4 1.0 1.7 2.5 0.3 1.1 0.4 0.2 0.2 0.2 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 52.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 31.4 13.0 48.4 0 34.3 36.0 2.6 12.2 0 0.4 1.0 1.9 0 0 2.4 0 0 0 0 0 0 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 778 612.2 383.8 368.7 345 427 272.5 211.9 139.6 108.7 162.5 104.9 101.1 (71.7) 9.8 (91.4) 173.6 120.1 154.8 170.2 106.6 239.9 148.9 87.7 57.2 135.8 150.3 89.9 62.0 19.2 20.8 82.3 89.3 63.0 57.8 64.6 57.3 67.1 113.4 78.0 35.9 (106.9) 0.8 29.5 28.8 (594.9) 9.8 43.7 54.1 (281.5) 71.1 (147.6) 70.5 26.1 70.2 89.3 103.0 142.1 113.5 166.2 138.4 109.7 44.1 45.4 58.4 70.7 47.5 35.8 24.2 (26.9) 23.9 46.7 56.0 31.3 35.9 34.2 16.1 36.6 27.8 31.6 17.7 15.3 5.6 3.9 3.2 840.2 5.8 0.8 1.4 (3.1) (0.6) (0.9) 0.1 (2.0) (1.7) (1.1) (0.1) (0.1) (0.1) (0.3)
EBIT 665 469.0 263.3 246.3 225.6 238.3 142.3 83.5 15.2 (12.6) 25.2 (25.8) 28 (151.0) (68.1) (165.7) 89.1 44.0 71.6 101.6 31.5 161.2 94.6 26.4 (21.0) 51.9 72.0 32.3 12.7 (18.1) (17.0) 44.6 54.8 28.8 29.2 33.9 27.9 44.0 79.7 48.2 6.5 (143.8) (35.9) (7.1) (11.7) (633.4) (24.2) 5.4 17.2 (313.1) 29.1 (179.9) 40.4 (6.2) 39.9 65.0 82.7 118.6 94.0 145.8 119.1 88.6 21.7 24.1 39.5 46.4 25.4 14.0 9.4 (39.5) 12.7 33.9 46.1 23.1 26.4 27.3 11.8 30.9 23.6 27.4 14.2 11.6 1.8 1.5 (0.0) 836.6 2.8 (1.2) (0.7) (5.0) (1.1) (1.6) (1.4) (3.3) (2.7) (1.8) (0.8) (0.7) (0.9) (0.9)
Income Before Tax 641 548.9 249.1 234.4 213.9 226 130.4 71.7 3.6 (25.8) 8.3 (44.3) 25.2 (153.2) (69.3) (166.7) 88.2 43.1 70.6 100.8 30.4 159.5 92.9 24.1 (24.5) 47.2 66.8 27.4 10.6 (57.5) (17.1) 53.2 54.7 88.9 28.3 37.5 27.8 43.1 79.4 47.8 6.0 (145.0) (69.3) (8.4) (13.1) (631.0) (24.5) 2.7 15.5 (312.4) 25.9 (182.3) 39.7 (9.5) 38.7 63.6 81.1 116.7 92.3 144.6 117.7 87.8 20.3 23.1 37.8 43.9 25.1 12.8 9.0 (42.1) 12.5 33.8 45.7 27.1 30.9 30.0 23.6 36.7 24.8 23.5 2.5 (26.3) 0.6 5.9 (3.2) 0 3.6 1.3 0 0 0 0 (1.5) 0 0 0 0 0 0 0
Income Tax Expense 185 90.1 79.9 44.8 44.6 118.2 73.3 93.1 34.4 25.5 28.9 (11.3) 8.7 18.9 1.9 6.9 11.4 28.5 50.4 29.6 38.0 (9.5) 27.6 4.7 52.7 26.0 29.1 8.9 7.3 6.0 (7.9) 16.5 6.5 39.2 10.5 1.5 7.8 20.9 36.0 13.5 4.1 (8.0) (1.8) (1.1) 6.7 (105.3) (4.3) 8.4 8.7 (19.3) 11.7 4.7 19.7 19.9 16.1 26.5 30.8 21.2 39.8 31.1 25.0 43.2 19.3 28.7 11.6 15.2 7.5 2.7 2.4 (8.5) 6.0 12.5 14.5 0.6 6.2 10.2 2.6 5.5 8.4 7.6 4.0 1.7 (0.1) 0.7 0.9 0 0 0 0 0 0 0 (0.2) 0 0 0 0 0 0 0
Net Income 457 458.4 168.6 189.2 168.7 107.6 57.2 (21.9) (30.9) (51.5) (19.7) (32.4) 16.4 (172.1) (71.2) (173.6) 76.5 14.0 20.3 70.9 (7.8) 169.0 65.7 20.1 (76.8) 21.4 37.7 18.4 33.3 (63.8) (9.5) 36.2 47.4 48.9 17.3 35.5 19.4 21.8 42.8 33.8 1.7 (132.9) (67.0) (7.3) (19.4) (526.7) (20.3) (5.5) 6.8 (293.6) 14.2 (186.5) 20.1 (29.1) 22.6 43.9 49.9 95.4 52.4 112.6 92.2 46.4 28.8 18.3 19.1 27.8 17.4 10.2 6.6 (33.3) 6.4 21.4 30.2 26.1 23.9 18.5 20.4 29.6 16.4 15.0 (2.8) (28.1) 2.3 0.0 (2.9) 15.7 3.3 1.3 (0.4) (4.9) (0.4) (13.7) (1.2) (4.4) (2.8) (1.5) (6.4) (38.0) (0.8) (0.7)
Per Share Data
EPS (Basic) 1.08 1.09 0.44 0.52 0.46 0.29 0.16 -0.06 -0.08 -0.15 -0.05 -0.09 0.08 -0.82 -0.34 -0.82 0.36 0.07 0.10 0.34 -0.04 0.80 0.31 0.10 -0.37 0.25 0.18 0.09 0.02 -0.42 -0.06 0.24 0.31 0.32 0.11 0.23 0.13 0.14 0.28 0.22 0.01 -0.88 -0.44 -0.05 -0.13 -3.48 -0.13 -0.04 0.05 -1.94 0.09 -1.23 0.13 -0.19 0.15 0.24 0.47 0.91 0.49 1.04 0.86 0.43 0.27 -0.06 0.25 0.26 0.20 0.12 0.08 -0.41 0.08 0.26 0.38 0.33 0.31 0.24 0.27 0.39 0.22 0.21 -0.04 -0.42 0.00 0.07 -0.04 0.48 0.05 -0.12 -0.01 -0.09 -0.01 -0.27 -0.03 -0.12 -0.08 -0.04 -0.19 -1.11 -0.02 -0.02
EPS (Diluted) 1.08 1.09 0.44 0.52 0.46 0.30 0.16 -0.06 -0.08 -0.15 -0.05 -0.09 0.08 -0.82 -0.34 -0.82 0.36 0.07 0.10 0.34 -0.04 0.80 0.31 0.10 -0.37 0.25 0.18 0.09 0.02 -0.42 -0.06 0.24 0.31 0.32 0.11 0.23 0.13 0.14 0.28 0.22 0.01 -0.88 -0.44 -0.05 -0.13 -3.48 -0.13 -0.04 0.05 -1.94 0.09 -1.23 0.10 -0.19 0.15 0.18 0.47 0.91 0.48 1.04 0.60 0.43 0.27 -0.06 0.25 0.26 0.20 0.12 0.08 -0.40 0.08 0.26 0.38 0.33 0.30 0.23 0.26 0.39 0.20 0.20 -0.04 -0.41 0.00 0.07 -0.04 0.48 0.05 -0.12 -0.01 -0.09 -0.01 -0.27 -0.03 -0.11 -0.08 -0.04 -0.19 -1.11 -0.02 -0.02
Shares Outstanding 421.8 422.0 378.8 362.0 362.4 363.0 363.0 363.0 364.5 345.5 364.4 364.4 210.7 210.6 210.5 210.5 210.5 210.3 210.3 210.3 210.3 210.2 210.2 210.0 209.8 209.7 209.5 209.5 176.5 153.4 153.3 153.3 153.3 153.2 153.2 153.1 152.8 152.3 152.2 152.0 152.0 151.7 151.7 151.6 151.6 151.5 151.5 151.5 151.5 151.4 151.4 151.4 151.8 152.3 152.3 153.7 105.0 104.6 107.9 107.9 107.0 107.0 106.9 106.9 106.7 106.7 87.2 87.2 84.1 80.8 80.8 80.8 78.6 76.6 76.5 76.4 76.3 76.1 76.0 71.2 67.7 67.3 66.9 71.0 70.4 66.8 66.7 65.1 54.1 54.1 51.9 50.6 41.7 37.6 34.8 34.4 34.0 34.3 40.0 33.3
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 2010 Q2 2010 Q1 2009 Q4 2009 Q2 2009 Q1 2007 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2001 Q3 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1
Current Assets
Cash & Cash Equivalents 1,495 1,212.8 870.2 1,080.9 900.1 862.8 439 337.2 301.1 399.6 347.5 362.5 411.3 107 153.1 194.8 271.9 283.6 257.5 157.1 133.5 167.1 150.3 188.1 147.8 120.6 94.7 92.2 90.5 138.5 186.4 187.4 167.3 176.0 136.0 160.9 183.6 180.9 209.6 149.9 120.4 127.1 119.7 100.5 37.3 29.2 65.8 54.0 67.5 14.2 11.1 12.6 10.2 18.0 4.9 8.6 3.5 7.5 9.6 6.1 9.7 15.9 15.5 16.4 24.4 10.1 15.9 22.0 27.3 31.8 40.0 41.3 42.9
Short-Term Investments 119 103.8 40.6 28.3 22.9 24.5 30.9 31.4 30.3 41.3 38.5 41.7 101.8 35.3 34.1 46.4 54.4 51.7 57.9 83.2 72.9 111.9 81.3 73.4 91.3 117.8 82.3 46.6 31.0 74.0 66.2 62.8 57.6 51.6 50.3 37.3 21.8 36.7 35.7 54.3 57.2 110.6 95.7 92.6 75.1 86.3 87.2 64.8 75.3 74.9 0.0 0.0 0.0 0.0 0.5 0.0 0.1 0.0 0 0 0 0 0 0 0 0.1 0 0 0 0.1 0 0 0
Net Receivables 236 255.5 237.5 185.2 201.3 195.8 204.1 201.8 209.5 200.9 214.5 218.2 217.6 176.6 161.0 178.0 161.8 148.4 155.3 153.5 147.6 149.8 151.5 149.2 154.3 186.0 201.8 207.6 200.0 109.2 113.3 112.8 127.3 126.7 119.0 123.7 137.0 118.8 133.3 129.2 140.4 66.3 60.1 78.2 69.0 63.7 69.3 10.3 9.5 7.5 6.6 4.9 4.6 5.4 2.1 4.9 3.4 3.6 4.2 3.9 5.2 4.7 4.9 4.9 5.5 4.6 9.1 5.3 7.8 5.6 5.7 5.2 6.0
Inventory 650 586.9 587.2 603.4 594.6 605.7 810.2 743.6 744.9 711.6 701.4 681.8 675.6 471.6 438.2 435.4 473.0 500.5 498.0 521.3 458.6 406.2 359.0 279.3 325.8 346.5 328.7 283.3 296.1 214.5 220.0 237.0 235.8 218.7 242.6 230.5 226.4 237.3 229.0 218.3 205.9 96.9 89.8 93.4 83.6 83.5 39.0 5.8 8.4 6.6 7.0 7.6 4.6 6.1 5.4 7.6 5.9 4.4 6.0 4.5 4.8 4.6 5.5 4.8 4.4 4.9 6.5 5.9 6.8 5.9 7.5 7.6 6.5
Other Current Assets 45 4.0 6.8 12.4 4.9 0 3.4 0.6 2.7 6.9 144.3 58.9 13 2.9 3.8 6.9 7.1 4.0 6.7 10.2 9.0 7.8 1.4 1.9 0 1.3 0.2 408.1 412.4 0.6 1.4 1.4 1.2 9.0 12.6 13.4 2.3 10.3 0.2 0.2 0.2 7.0 7.8 5.2 10.3 5.8 4.7 0 (0.0) 0 0 0 0 0 0 5.6 4.9 3.5 3.2 1.9 2 1.6 2.5 1.9 1.9 1.7 1.1 2.2 2.0 1.8 1.6 1.7 1.9
Total Current Assets 2,545 2,192.0 1,772.8 1,948.4 1,762.7 1,720.4 1,513.1 1,345.2 1,319.5 1,390 1,476.5 1,402.1 1,460.9 804.4 798.0 872.3 982.6 1,001.2 983.9 937.3 837.9 856.9 752.5 702.8 738.2 788.9 719.8 1,050.2 1,044.4 548.4 599.0 613.6 602.2 595.5 575.4 583.9 581.5 612.9 616.2 561.1 533.4 412.5 377.1 372.5 278.8 272.0 270.5 137.2 162.1 104.6 26.7 27.1 22.6 34.1 18.4 26.7 17.9 19.1 22.9 16.4 21.7 26.8 28.4 28.0 36.1 21.4 32.7 35.5 44.0 45.2 54.7 55.9 57.3
Non-Current Assets
Property, Plant & Equipment 5,301 5,328.3 5,278.5 5,256 5,288.7 5,325.1 5,516 5,571.5 5,614.6 5,675.1 5,885.1 7,373.4 7,472.4 2,226.4 2,215.7 2,243.1 2,330.2 2,344.6 2,322.9 2,344.7 2,361.8 2,415.0 2,422.5 2,448.2 2,468.7 2,504.9 2,584.7 2,240.2 2,236.7 1,301.0 1,314.9 1,324.3 1,331.4 1,336.7 1,271.8 1,272.1 1,255.2 1,222.7 1,195.8 1,177.8 1,158.7 1,501.4 1,507.0 1,457.7 683.8 697.4 370.3 170.2 84.8 167.4 69.3 66.1 59.4 59.0 69.2 67.1 66.5 63.7 59.7 94.3 91.7 80.1 69.3 59.9 52.0 48.1 42.1 38.1 35.8 26.9 17.4 15.9 14.8
Goodwill 0 0 0 0 0 0 0 0 0 0 2.8 2.8 0 2.8 6.0 5.3 2.8 2.8 2.8 2.8 2.8 2.8 3.1 3.1 3.1 5.0 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 3.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 2,009 1,966.4 1,904.2 0 0 0 0 0 0 0 0 0 0 121.2 87.0 112.5 126.1 78.7 78.7 78.4 72.8 71.6 59.2 58.7 81.1 84.3 69.9 69.9 69.7 70.6 70.7 71.2 55.2 55.0 54.8 51.8 50.9 49.7 30.3 1.4 1.4 1.1 1.0 0 0 0 0 0 0 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 Non-Current Assets 208 154.7 155.1 124.9 120.7 112.8 67.3 61.7 64.1 67.6 103.6 114.6 117.3 37.8 35.5 35.6 36.6 35.5 34.9 34.2 30.3 29.8 35.8 50.6 44.8 42.1 67.4 46.8 50.6 2.2 2.9 3.4 1.2 0.4 2.1 9.2 8.9 8.0 14.2 14.2 10.8 20.4 20.0 18.4 11.1 3.7 112.6 8.3 91.3 7.9 91.3 91.7 12.9 2.4 1.0 0.3 0.3 0.3 0.9 1.8 1.7 0.9 1.2 1.2 1.2 1.2 0.1 0.1 0.1 0.1 0.4 0.1 0.1
Total Non-Current Assets 7,587 7,532.3 7,374.6 5,412 5,442.9 5,482.4 5,638.9 5,698.7 5,760.5 5,823.1 6,057.5 7,560.1 7,651.8 2,444.1 2,401.6 2,451.3 2,557.7 2,517.4 2,495.4 2,517.7 2,524.7 2,577.0 2,552.0 2,593.0 2,627.9 2,672.8 2,736.3 2,371.9 2,371.4 1,389.1 1,405.2 1,416.5 1,393.5 1,397.9 1,333.4 1,337.9 1,319.8 1,285.3 1,245.4 1,199.6 1,177.3 1,524.5 1,528.5 1,476.2 695.0 701.1 483.7 178.5 176.2 175.3 160.7 157.8 72.3 61.7 70.2 67.4 66.9 64.0 60.6 96.1 93.4 81.0 70.5 61.1 53.2 49.3 42.2 38.2 36.0 27 17.8 15.9 14.9
Total Assets 10,132 9,724.3 9,147.4 7,360.4 7,205.6 7,202.7 7,152 7,043.9 7,080 7,213.1 7,534 8,962.2 9,112.7 3,248.5 3,199.6 3,323.6 3,540.3 3,518.6 3,479.3 3,455.0 3,362.6 3,433.9 3,304.5 3,295.8 3,366.0 3,461.7 3,456.1 3,422.1 3,415.8 1,937.5 2,004.2 2,030.0 1,995.7 1,993.3 1,908.8 1,921.8 1,901.3 1,898.1 1,861.6 1,760.7 1,710.7 1,937.0 1,905.6 1,848.6 973.8 973.1 754.2 315.6 338.3 279.9 187.4 184.9 95.0 95.8 88.7 94.1 84.7 83.1 83.6 112.5 115.1 107.8 98.9 89.1 89.3 70.7 74.8 73.7 79.9 72.2 72.6 71.8 72.1
Current Liabilities
Account Payables 203 314.4 188.7 176.6 165.2 194.4 174.3 193.6 186.2 198.2 191.4 203.2 202.6 88.8 75.3 65.1 75.2 77.5 68.2 85.2 77.4 80.3 60.5 54.2 62.6 66.9 76.2 82.1 90.0 52.2 43.6 42.9 43.1 47.1 37.9 41.5 43.9 45.3 37.5 41.8 45.1 24.7 20.8 96.2 17.8 21.6 53.5 9.1 10.7 8.8 13.3 14.5 15.2 11.6 13.8 19.1 14.1 9.5 10.9 5.8 7.7 10.0 6.1 5.6 5.6 5.6 5.4 4.7 4.5 4.8 6.2 5.4 9.1
Short-Term Debt 4 57.9 6 6.8 6.8 6.8 6.8 6.7 6.7 6.7 14.8 25 30.3 13.7 9.9 0 0 0 0 3.4 0 0 0 0 0 0 0 0 0 0 0 0 0 3 0 2.5 0 0 5.2 16.9 18.4 0 0 0 0 0 0 0 0 0 0 0 0 0.7 2.0 0 0 7.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.6 0 0 0 0 0.1 0.1 0.1 0.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Liabilities 53 122.8 67 56.3 46.7 48.1 63.5 61.1 56.5 41.7 72.6 66.3 51.8 19.7 17.1 19.7 17.0 11.8 19.3 13.8 15.8 12.4 8.3 11.7 14.0 8.4 6.9 38.2 42.6 6.9 6.9 6.8 7.7 11.2 9.8 6.4 9.4 12.0 13.6 11.8 13.2 14.5 0.6 0 4.0 40.2 9.7 2.6 10.1 9.5 5.7 7.2 3.1 5.2 0.7 0 0 0 0.1 0 0 0.1 1.4 1.4 (0.1) 0.5 2.6 1.1 6.8 5.1 4.8 5.2 0.4
Total Current Liabilities 896 815.5 766.4 637.9 600.9 687 733.1 653.2 626 624.2 644.4 658.3 634.3 380.8 375.9 358.4 362.0 387.7 365.2 334.2 324.8 361.8 286.9 231.3 250.2 271.7 260.5 257.1 272.7 150.5 155.4 150.5 153.5 184.7 165.7 154.4 158.5 184.3 182.0 161.8 149.8 90.5 74.3 100.2 62.7 72.7 63.2 12.2 33.5 22.6 20.8 23.4 20.2 20.4 16.5 23.9 20.2 17.3 14.0 5.9 7.8 10.1 7.5 7.1 5.7 6.1 8.0 5.8 11.4 9.9 10.9 10.7 9.5
Non-Current Liabilities
Long-Term Debt 712 792.6 707 704.8 703.4 702 700.7 699.5 698.2 697 704.9 1,014 1,057.8 180 21.7 23.3 11.1 11.9 12.8 13.6 0 0 95.6 200 260 275 315 335 335 0 0 0 0 0 0 36.2 36.2 36.2 36.2 36.2 36.2 0 0 20.8 0 0 0 0.5 0.4 10.8 11.0 7.5 3.9 3.4 5.1 5.0 5.0 5.0 4.7 1.5 1.6 0 0 0 0 2.1 0 0 0 0 0 0 0
Deferred Tax Liabilities 410 434.2 435.7 455 491.9 521.7 504.3 526 517.8 541.6 733.4 1,163.6 1,210.7 140.3 144.1 159.7 171.4 184.8 193.7 190.3 186.0 175.3 203.7 201.9 204.0 176.8 182.8 183.1 191.2 148.8 154.1 171.2 159.6 171.2 157.1 159.2 166.7 170.9 159.9 140.4 142.3 326.6 329.4 305.8 45.0 43.3 50.0 19.0 19.0 19.0 19.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 681 595.9 511.9 512.1 512.2 508.2 494.1 483 498.8 512.5 481.1 646.1 645.7 312.4 259.1 271.0 272.3 265.8 237.7 245.0 236.8 257.0 234.2 232.0 232.2 230.8 206.1 185.0 181.6 110.2 97.4 96.4 104.1 102.5 99.6 98.7 98.3 92.7 93.7 83.9 79.5 84.6 84.0 62.8 58.8 58.0 45.8 25.1 41.2 43.3 15.6 34.6 15.3 6.7 4.0 3.2 3.5 3.2 4.0 3.7 3.7 2.8 2.9 2.9 3.1 0.8 1.6 1.7 1.8 1.6 1.2 1.2 1.6
Total Non-Current Liabilities 1,881 1,920.5 1,758 1,748.8 1,774.4 1,799.1 1,774 1,767.3 1,773 1,816.4 1,982.5 2,894.8 2,985.5 666.1 460.6 487.6 490.4 494.9 475.0 480.7 454.5 466.3 568.7 670.8 732.7 722.2 745.4 746.1 735.7 273.6 267.1 283.8 278.5 287.6 271.1 309.4 316.7 314.9 300.5 263.8 260.7 411.2 413.4 389.4 103.8 101.4 95.8 44.7 60.6 73.1 45.7 42.1 19.2 10.3 9.1 8.2 8.5 8.2 8.7 5.2 5.2 2.8 2.9 2.9 3.1 2.9 1.6 1.7 1.8 1.6 1.2 1.2 1.6
Total Liabilities 2,777 2,736.0 2,524.4 2,386.7 2,375.3 2,486.1 2,507.1 2,420.5 2,399 2,440.6 2,626.9 3,553.1 3,619.8 1,046.9 836.5 845.9 852.3 882.6 840.2 814.9 779.3 828.0 855.6 902.1 982.9 993.8 1,005.9 1,003.2 1,008.3 424.1 422.6 434.2 432.0 472.3 436.8 463.8 475.2 499.1 482.5 425.6 410.4 501.7 487.7 489.6 166.5 174.1 159.0 56.9 94.1 95.8 66.5 65.6 39.5 30.7 25.6 32.1 28.7 25.5 22.7 11.1 13.0 12.9 10.4 10.0 8.8 9.0 9.7 7.5 13.2 11.5 12.1 11.9 11.1
Stockholders' Equity
Common Stock 7,440 7,434.4 7,450.7 5,919.2 5,925.8 5,939.7 5,939 5,938.3 5,938.3 5,966.5 5,963 5,963 5,963 3,140 3,137.7 3,137.5 3,136.6 3,136.2 3,132.9 3,132.9 3,132.2 3,132.1 3,129.5 3,129.0 3,126.9 3,123.5 3,119.5 3,117.7 3,117.1 2,321.5 2,319.8 2,319.2 2,318.4 2,318.3 2,316.4 2,316.3 2,315.6 2,304.0 2,302.4 2,300.4 2,299.4 0 0 0 0 0 0 0 0 0 0 0 0 0 130.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings (149) (512.1) (898.7) (1,023.9) (1,173.3) (1,299.5) (1,370.8) (1,391.2) (1,333) (1,269.5) (1,181.2) (1,122.9) (1,039.7) (1,034.8) (840.7) (746.0) (546.8) (598.0) (591.0) (590.0) (645.9) (623.0) (777.2) (832.4) (842.0) (754.7) (768.8) (799.1) (810.1) (836.1) (765.7) (750.9) (781.9) (825.5) (870.5) (883.9) (915.5) (931.1) (950.9) (991.8) (1,023.7) 122.9 104.7 88.2 43.1 32.8 (24.4) (130.9) (123.0) (120.5) (108.2) (107.7) (106.6) (92.9) (68.6) (69.3) (66.4) (64.9) (58.5) (20.5) (19.7) (19.0) (17.2) (16.6) (15.1) (13.2) (10.0) (9.0) (7.1) (7.2) (6.6) (7.2) (6.0)
Accumulated Other Comprehensive Income (32) 61.9 (30.3) (30.7) (30.9) (30.9) (30.4) (30.4) (30.5) (30.3) (27.3) (23.8) (19.4) (3) (32.6) (12.2) 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0.2 0.2 0.0 (0.1) 1.6 (0.0) 0.3 0.7 0.4 2.6 1.8 0.1 1.5 3.5 1.6 (1.4) 1.0 10.3 12.5 81.6 79.5 0 0 0 1.1 0 0 0 1.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Total Stockholders' Equity 7,354 6,984.3 6,616.9 4,959.4 4,816.5 4,703.5 4,632 4,610.9 4,669 4,760.7 4,848.3 4,909.9 4,997.4 2,195.5 2,357.6 2,472.5 2,683.2 2,631.6 2,635.3 2,636.3 2,579.7 2,602.5 2,445.7 2,390.0 2,378.8 2,463.1 2,445.3 2,413.4 2,401.8 1,508.2 1,576.7 1,590.9 1,559.0 1,516.8 1,468.3 1,454.9 1,422.9 1,396.3 1,376.8 1,333.4 1,298.7 1,428.1 1,411.2 1,343.8 800.9 792.8 590.4 258.7 244.1 184.1 120.9 119.3 55.5 65.1 63.1 62.0 56.0 57.5 60.9 101.4 102.1 94.9 88.5 79.1 80.5 61.7 65.2 66.2 66.8 60.6 60.5 59.9 61.1
Total Liabilities & Equity 10,132 9,724.3 9,147.4 7,360.4 7,205.6 7,202.7 7,152 7,043.9 7,080 7,213.1 7,534 8,962.2 9,112.7 3,248.5 3,199.6 3,323.6 3,540.3 3,518.6 3,479.3 3,455.0 3,362.6 3,433.9 3,304.5 3,295.8 3,366.0 3,461.7 3,456.1 3,422.1 3,415.8 1,937.5 2,004.2 2,030.0 1,995.7 1,993.3 1,908.8 1,921.8 1,901.3 1,898.1 1,861.6 1,760.7 1,710.7 1,937.0 1,905.6 1,848.6 973.8 973.1 754.2 315.6 338.3 279.9 187.4 184.9 95.0 95.8 88.7 94.1 84.7 83.1 83.6 112.5 115.1 107.8 98.9 89.1 89.3 70.7 74.8 73.7 79.9 72.2 72.6 71.8 72.1
Debt Metrics
Total Debt 845 935.3 857 820.7 804.4 803.3 815.2 809.5 806.6 801.6 809.1 1,135.3 1,187 226.8 68.5 55.9 43.6 42.5 41.6 47.7 30.8 33.6 129.8 236.9 299.2 316.2 360.5 378.8 363.1 6.7 8.4 9.7 10.0 10.6 7.5 46.7 43.8 43.3 47.0 58.8 59.5 0.4 0.5 20.8 1.3 1.6 0 1.0 13.0 13.4 12.7 9.2 5.7 6.6 7.1 9.8 11.1 12.8 7.7 1.6 1.7 0 0 0.1 0.1 2.1 0 0 0 0 0 0 0
Net Debt (650) (277.5) (13.2) (260.2) (95.7) (59.5) 376.2 472.3 505.5 402 461.6 772.8 775.7 119.8 (84.6) (139.0) (228.2) (241.1) (215.9) (109.4) (102.7) (133.5) (20.5) 48.8 151.4 195.6 265.8 286.5 272.6 (131.8) (178.0) (177.7) (157.3) (165.4) (128.5) (114.2) (139.8) (137.6) (162.5) (91.1) (60.9) (126.8) (119.3) (79.7) (36.0) (27.6) (65.8) (53.0) (54.5) (0.7) 1.6 (3.4) (4.5) (11.4) 2.2 1.2 7.6 5.3 (1.9) (4.5) (8.1) (15.9) (15.5) (16.4) (24.2) (7.9) (15.9) (22.0) (27.3) (31.8) (40.0) (41.3) (42.9)
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 2002 Q4 2002 Q3 2002 Q2 2002 Q1 2001 Q4 2001 Q3 2001 Q2 2000 Q4 2000 Q3 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1
Operating Activities
Net Income 456 458.4 169.2 189.6 169.3 107.8 57.1 (21.4) (30.8) (51.3) (20.6) (33) 16.5 (172.1) (71.2) (173.6) 76.8 14.7 20.2 71.2 (7.6) 169.0 65.3 19.4 (77.2) 21.2 37.7 18.5 3.3 (63.6) (9.2) 36.7 48.2 49.7 17.8 36.0 19.9 22.3 43.4 34.2 1.9 0.2 5.0 (4.2) 1.3 (0.4) (4.9) (1.2) (1.6) (1.1) (13.7) (17.4) (1.2) (1.3) (4.4) 0.7 (2.8) (6.4) (38.0) (0.8) (0.7) (1.7) (0.7) (1.4) (2.0) (3.2) (1.0) (1.8) 0.1 (0.5) 0.6 (1.2) 0.3
Depreciation & Amortization 113 143.2 120.5 122.4 119.4 188.7 130.2 128.4 124.4 121.3 137.3 130.7 73.1 79.3 77.9 74.3 84.5 76.1 83.2 68.5 75.1 78.7 54.3 61.3 78.1 83.8 78.3 57.6 49.3 37.2 37.9 37.6 34.5 34.2 28.6 30.7 29.4 23.0 33.8 29.8 29.4 3.8 2.4 3.2 2.0 2.1 2.0 0.4 0.5 0.5 0 1.3 1.4 1.4 0 1.3 1.0 0.6 0.4 0.9 0.6 0.6 0.6 0.5 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.5
Stock-Based Compensation 0 0 0.6 0.2 1 (4.4) 1.6 1.6 1.6 1.8 1.2 1.3 1.2 0.0 1.3 1.3 1.3 2.1 0.9 1.2 0.9 (0.2) 1.0 1.2 1.0 1.3 1.1 1.2 0.8 (0.1) 1.0 1.1 1.0 0.7 0.8 0.9 0.7 0.6 1.7 0.9 0.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (29) 35.8 (4.3) 5.5 (65.3) (5.6) (9.6) (34.2) (66) 55.6 (5.3) 10.2 8 (29.1) 21.6 (19.7) (14.8) (9.7) 23.0 (37.0) (47.4) 18.6 9.0 31.3 38.2 4.7 (14.9) 20.1 (37.9) (4.9) 4.2 7.8 (11.3) 15.2 6.9 (8.2) (2.2) 2.3 7.3 12.5 (27.6) (0.5) (1.4) 1.3 (2.5) (2.7) (2.0) (0.2) (3.5) 0.7 0 1.6 (2.0) 1.6 0 (0.1) (0.2) 0 0.4 1.2 (1.4) 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Cash Items (220) 21.7 (57.2) (69.1) (94.2) (130.6) (26.4) (4.8) (2.5) 14.4 (26.9) 20.9 (56.2) (9.2) 22.9 131.6 (90.4) 6.4 (20.7) (46.5) (29.1) (86.0) (42.2) (55.2) 21.3 (7.6) (49.3) (22.9) (35.8) 37.2 15.8 (32.8) (44.4) (59.7) (0.8) (18.0) (17.1) (23.4) (19.8) (24.8) (7.7) 2.1 (4.3) 2.6 (0.4) 0.6 3.7 1.1 1.4 0.4 11.9 15.7 0.1 (0.1) 3.4 (3.5) (0.3) 6.0 37.8 (0.1) 0.1 (2.4) 2.0 1.3 (0.7) 2.8 (1.6) (0.8) (1.0) 0.8 (0.4) 1.2 (0.7)
Operating Cash Flow 505 610.0 308.7 293.4 174.8 274.1 226.2 162.7 61.1 167.3 114.6 118.8 51.3 (112.1) 54.4 20.8 68.8 118.1 157.0 87.1 29.9 170.6 114.9 62.8 114.1 129.5 81.9 83.5 (12.9) 11.9 41.7 66.9 34.4 79.3 63.8 42.9 38.6 45.7 102.3 66.0 0.8 4.2 1.4 2.9 0.4 (0.3) (1.1) 0.1 (3.3) 0.5 (1.8) 1.2 (1.7) 1.6 (1.0) (1.6) (2.3) 0.3 0.6 1.1 (1.4) (3.5) 1.9 0.4 (2.1) 0.1 (2.1) (2.2) (0.4) 0.8 0.7 0.4 0.1
Investing Activities
Capital Expenditure (105) (96.0) (91.1) (60.3) (68.1) (85.4) (75.1) (75.9) (86.9) (118.8) (108.7) (114.8) (38.5) (72.4) (69.1) (71.8) (61.5) (70.1) (62.2) (63.2) (48.0) (53.6) (38.8) (30.3) (55.8) (50.3) (49.9) (66.3) (40.9) (42.3) (33.6) (43.4) (32.6) (36.5) (32.0) (49.3) (44.7) (56.5) (48.5) (52.8) (44.9) (16.5) (14.2) (10.0) (3.0) (3.6) (5.9) (3.6) (3.6) (4.4) (4.1) (2.8) (1.4) (1.5) (0.9) (0.5) (1.6) (9.2) (4.0) (3.0) (2.7) (19.0) 1.9 (8.3) (4.6) (2.9) (4.0) (4.7) (9.9) (9.8) (1.8) (1.7) (0.8)
Acquisitions 0 (30.3) (409.3) 0 0 290.4 0 0 0 45.5 304.5 0 259.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (247.5) 0 0 0 0 0 (2.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (1) (53.9) 0 0 0 (5.3) (0.5) 0 (0.1) 0 (8.1) 0 0 0 (0.3) 0 0 0 0 0 0 0 0 (1.5) (2.9) 0 (0.0) (12.5) 0 (10.0) (3.5) (6.9) (5.5) (0.4) (12.5) (15.9) (3.1) (2.1) (1.0) (0.3) (1.5) 0 0 (4.7) 0 (0.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 1 0 4.2 3.3 0 0 0 2.4 0 1.8 3.6 54.5 106.8 3.6 1.2 3.3 2.7 0 2.3 3.2 2.7 0 0 86.6 0 (1.3) 1.4 0.4 0 1.3 1.5 0 0 0 1.9 0.6 14.9 (3.2) 19.4 4.7 36.0 9.6 0 0 10.4 0.0 0 0 0 0 0 0 0 0 0.2 0 0 0 0 0 0 0 0 0 0 7.1 (0.0) (0.0) 0.1 0 0 0 0
Other Investing Activities 10 10.3 34.2 4.3 0.2 2.1 0.4 0.8 0.5 0.9 0.6 3.3 0.1 0.5 0.5 0.1 7.7 3.8 29.9 14.0 0.8 13.5 4.2 (5.5) 0.2 0.1 1.0 9.1 54.6 0.0 0.3 10.4 5.1 0.0 0.3 1.3 0.0 (4.7) 0.5 15.0 0.1 0.5 18.4 0.5 1.6 0.3 (75.4) (0.5) 0.0 2.1 (0.6) (0.6) 0.0 0.1 (0.1) 0.1 1.5 5.1 (2.0) (1.1) (2.1) 0.1 0 (0.1) 0.1 0 (0.1) 0.1 (0.1) 0.2 (0.1) (0.3) 0.5
Investing Cash Flow (95) (169.9) (462) (52.7) (67.9) 201.8 (75.2) (72.7) (86.5) (70.6) 191.9 (55.2) 327.9 (68.2) (67.7) (68.4) (51.1) (66.3) (29.9) (45.9) (44.5) (40.1) (34.6) 49.3 (58.5) (51.5) (47.5) (69.3) (233.8) (51.0) (35.3) (39.9) (32.9) (36.8) (44.9) (63.2) (32.9) (66.5) (29.7) (33.4) (10.3) (6.3) 4.2 (14.2) 9.1 (3.6) (81.2) (4.1) (3.6) (2.3) (4.8) (3.5) (1.4) (1.4) (0.8) (0.4) (0.1) (4.1) (6.0) (4.1) (4.8) (19.0) 1.9 (8.4) (4.5) 4.2 (4.1) (4.6) (9.9) (9.6) (2.0) (2.0) (0.3)
Financing Activities
Net Debt Issuance (17) (1.9) (14.5) (14.9) (13.5) (13.9) (13.9) (14.4) (14.8) (8.7) (307.2) (64.2) (52.4) 158.5 (3.4) (3.8) (4.2) (4.3) (4.0) (2.9) (3.0) (98.8) (107.3) (63.0) (19.1) (45.7) (24.7) (4.9) 205.0 (2.2) (2.2) (2.0) (4.5) 1.7 (40.0) 1.5 (0.9) (5.9) (12.5) (2.3) (2.0) (0.4) 0 0 (26.2) (0.4) 1.2 85.8 3.5 3.5 (1.3) (1.1) (0.8) (0.1) 0.1 (2.1) (1.3) 4.6 6.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased (25) (15.1) 0 (11.1) (19.9) (0.2) (0.0) (2.9) (21.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid (76) (60.2) (43.4) (36.2) (36.2) (36.3) (36.3) (36.3) (36.5) (36.4) (36.5) (36.4) (21.1) (21.0) (23.2) (25.3) (25.3) (21.0) (21.0) (14.7) (14.7) (14.7) (10.5) (10.5) (10.5) (7.3) (7.3) (7.3) (7.3) (5.4) (5.4) (5.2) (5.4) (3.8) (3.8) (3.8) (3.8) (1.9) (1.9) (1.9) (1.9) 0 0 0 0 0 0 0 0 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 Financing Activities (12) (14.4) 0 0.1 (1.1) 0 0 0 0.1 (0.4) 10.3 3.0 (0.2) (0.3) 0 0 0 (0.0) (0.3) (0.3) (0.3) 0 0 0 0.2 (0.0) (0.7) (0.3) 1.0 (1.2) (0.3) (0.3) (0.3) (0.3) 0 (0.6) (0.2) (0.1) (0.1) (0.2) 0 0 (0.3) 0 2.2 (2.4) (0.3) (3.0) (0.0) 0 (0.1) (0.7) 0.6 (0.7) 0.3 0.0 8.8 (2.8) 2.8 (0.6) 0 (1.9) 0.5 (0.0) (1.1) 0 0 0 0 0 0 0 0
Financing Cash Flow (130) (91.1) (57.1) (61.3) (69.9) (49.7) (49.6) (53.2) (72.7) (45.5) (333.4) (97.6) (73.7) 137.2 (26.4) (28.7) (29.2) (25.1) (25.3) (17.6) (18.0) (113.5) (117.4) (72.1) (26.6) (51.9) (31.2) (12.3) 198.7 (8.7) (7.4) (6.9) (10.1) (2.5) (43.7) (2.5) (2.9) (7.8) (13.0) (3.8) (3.7) 1.1 (0.0) 0.9 (23.1) 57.3 3.7 85.7 5.5 4.2 (1.2) (0.8) 4.2 16.3 0.3 (1.7) 7.5 1.8 8.8 (0.6) 0 29.1 (11.0) 0.1 20.9 (3.1) 0.0 1.4 6.0 0.7 0 0.0 0.3
Cash Position
Net Change in Cash 280 343.4 (210.7) 180.8 37.3 423.8 101.8 36.1 (98.5) 52.1 (20) (44.7) 304.3 (46.1) (41.7) (77.1) (11.7) 26.0 100.4 23.6 (33.6) 16.8 (37.8) 40.3 27.3 25.9 2.5 1.7 (48.0) (47.9) (1.0) 20.1 (8.7) 40.0 (24.9) (22.7) 2.7 (28.7) 59.7 29.5 (13.6) (0.9) 5.5 (10.4) (13.5) 53.3 (78.6) 81.7 (1.4) 2.4 (7.8) (3.1) 1.1 16.6 (1.5) (3.7) 5.1 (2.0) 3.5 (3.6) (6.2) 0.4 (1.0) (7.9) 14.3 (5.8) (6.2) (5.2) (4.6) (8.1) (1.3) (1.6) 0.1
Cash at Beginning 1,215 869.4 1,080.9 900.1 862.8 439 337.2 301.1 399.6 347.5 367.5 411.3 107 153.1 194.8 271.9 283.6 257.5 157.1 133.5 167.1 150.3 188.1 147.8 120.6 94.7 92.2 90.5 138.5 186.4 187.4 167.3 176.0 136.0 160.9 183.6 180.9 209.6 149.9 120.4 134.0 23.4 17.9 28.3 67.5 14.2 92.8 11.1 12.6 10.2 18.0 21.0 19.9 3.3 4.9 8.6 3.5 9.6 6.1 9.7 15.9 15.5 16.4 24.4 10.1 15.9 22.0 27.3 31.9 40.0 41.3 42.9 42.8
Cash at End 1,495 1,212.8 870.2 1,080.9 900.1 862.8 439 337.2 301.1 399.6 347.5 367.5 411.3 107.0 153.1 194.8 271.9 283.6 257.5 157.1 133.5 167.1 150.3 188.1 147.8 120.6 94.7 92.2 90.5 138.5 186.4 187.4 167.3 176.0 136.0 160.9 183.6 180.9 209.6 149.9 120.4 22.5 23.4 17.9 54.0 67.5 14.2 92.8 11.1 12.6 10.2 18.0 21.0 19.9 3.3 4.9 8.6 7.5 9.6 6.1 9.7 15.9 15.5 16.4 24.4 10.1 15.9 22.0 27.3 31.8 40.0 41.3 42.9
Free Cash Flow 400 514.1 217.6 233.1 106.7 188.7 151.1 86.8 (25.8) 48.5 5.9 4.0 12.8 (184.5) (14.7) (51) 7.3 48.0 94.8 24.0 (18.1) 116.9 76.1 32.4 58.3 79.2 32.1 17.3 (53.8) (30.4) 8.1 23.5 1.8 42.8 31.8 (6.4) (6.1) (10.8) 53.8 13.3 (44.1) (12.3) (12.9) (7.1) (2.5) (3.9) (7.0) (3.5) (6.9) (3.9) (6.0) (1.7) (3.1) 0.2 (2.0) (2.1) (3.9) (8.9) (3.4) (1.9) (4.1) (22.5) 3.8 (7.9) (6.7) (2.8) (6.1) (6.8) (10.4) (9.0) (1.2) (1.3) (0.7)
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 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2 2000 Q1
Income Statement
Revenue 1,154 1,197.4 854.6 811.9 773.2 815.1 716.1 686.3 601.4 669.6 616.3 639.9 390.3 375.5 338.9 340.5 439.9 422.2 460.3 382.1 368.1 430.5 300.4 249.5 358.4 404.4 352.2 340.5 253.7 173.4 187.7 216.5 207.0 226.0 190.8 201.3 198.7 190.6 233.6 192.3 158.3 163.0 159.4 174.2 178.1 163.1 178.3 200.8 209.7 192.4 213.6 175.6 243.0 247.3 251.8 200.6 228.8 212.4 220.6 231.9 190.5 191.1 164.5 150.6 135.8 154.4 118.6 111.4 70.4 46.3 79.5 104.1 108.8 85.9 87.9 79.2 48.1 82.6 64.3 62.8 45.7 41.4 30.1 25.4 29.1 865.4 27.4 20.9 15.2 12.9 12.6 12.1 11.6 10.9 8.1 4.5 8.6 7.0 7.0 7.3
Gross Profit 608 565.3 313 273.3 250.8 184.9 175.7 116.9 71 87.1 42.5 61.1 55.2 24.6 (34.5) (43.9) 57.1 66.8 91.4 95.3 82.7 130.4 97.4 (3.8) 34.0 90.6 57.5 45.2 12.3 (4.7) (4.4) 54.9 55.1 43.3 47.8 44.8 32.9 49.0 88.5 44.7 16.7 (7.8) (26.0) (1.0) 2.6 (21.4) (12.4) 10.2 31.6 19.0 33.9 3.8 74.8 85.0 65.4 51.5 101.9 88.3 106.2 118.6 96.0 91.2 61.3 52.3 37.8 47.4 34.7 23.5 10.5 0.4 15.5 39.3 48.4 35.1 38.6 37.7 18.5 36.8 31.2 34.6 20.2 14.9 8.4 6.1 5.3 841.5 7.7 3.3 3.5 1.1 0.7 (0.2) 0.5 (1.7) (1.2) (0.5) 0.5 0.6 0.3 0.2
Operating Income 560 469.0 249.7 243.9 228.2 254.6 151.9 89.4 34.8 (4.6) 44.1 (6.7) 27.5 (148.0) (51.1) (153.8) 90.6 52.7 101.1 93.8 73.3 133.4 84.2 (18.3) 10.7 21.8 38.9 34.7 1.3 (53.7) (14.9) 56.2 55.2 90.5 30.3 37.4 30.1 45.5 81.4 50.1 7.5 (143.9) (68.3) (6.5) (11.4) (630.1) (26.6) 6.2 17.7 (310.2) 27.0 (197.7) 42.3 (23.4) 52.7 43.0 78.9 86.7 86.1 108.6 90.7 82.7 48.8 34.7 30.2 44.0 27.0 13.7 6.9 (30.7) 11.0 33.8 45.4 23.1 26.4 27.3 11.8 30.9 23.6 27.4 14.2 (18.0) 1.8 1.5 (0.0) 834.1 2.8 (1.2) (0.7) (5.0) (1.1) (13.7) (1.4) (3.3) (2.7) (1.8) (5.9) (38.3) (0.9) (0.9)
Net Income 457 458.4 168.6 189.2 168.7 107.6 57.2 (21.9) (30.9) (51.5) (19.7) (32.4) 16.4 (172.1) (71.2) (173.6) 76.5 14.0 20.3 70.9 (7.8) 169.0 65.7 20.1 (76.8) 21.4 37.7 18.4 33.3 (63.8) (9.5) 36.2 47.4 48.9 17.3 35.5 19.4 21.8 42.8 33.8 1.7 (132.9) (67.0) (7.3) (19.4) (526.7) (20.3) (5.5) 6.8 (293.6) 14.2 (186.5) 20.1 (29.1) 22.6 43.9 49.9 95.4 52.4 112.6 92.2 46.4 28.8 18.3 19.1 27.8 17.4 10.2 6.6 (33.3) 6.4 21.4 30.2 26.1 23.9 18.5 20.4 29.6 16.4 15.0 (2.8) (28.1) 2.3 0.0 (2.9) 15.7 3.3 1.3 (0.4) (4.9) (0.4) (13.7) (1.2) (4.4) (2.8) (1.5) (6.4) (38.0) (0.8) (0.7)
EPS (Diluted) 1.08 1.09 0.44 0.52 0.46 0.30 0.16 -0.06 -0.08 -0.15 -0.05 -0.09 0.08 -0.82 -0.34 -0.82 0.36 0.07 0.10 0.34 -0.04 0.80 0.31 0.10 -0.37 0.25 0.18 0.09 0.02 -0.42 -0.06 0.24 0.31 0.32 0.11 0.23 0.13 0.14 0.28 0.22 0.01 -0.88 -0.44 -0.05 -0.13 -3.48 -0.13 -0.04 0.05 -1.94 0.09 -1.23 0.10 -0.19 0.15 0.18 0.47 0.91 0.48 1.04 0.60 0.43 0.27 -0.06 0.25 0.26 0.20 0.12 0.08 -0.40 0.08 0.26 0.38 0.33 0.30 0.23 0.26 0.39 0.20 0.20 -0.04 -0.41 0.00 0.07 -0.04 0.48 0.05 -0.12 -0.01 -0.09 -0.01 -0.27 -0.03 -0.11 -0.08 -0.04 -0.19 -1.11 -0.02 -0.02
Balance Sheet
Cash & Equivalents 1,495 1,212.8 870.2 1,080.9 900.1 862.8 439 337.2 301.1 399.6 347.5 362.5 411.3 107 153.1 194.8 271.9 283.6 257.5 157.1 133.5 167.1 150.3 188.1 147.8 120.6 94.7 92.2 90.5 138.5 186.4 187.4 167.3 176.0 136.0 160.9 183.6 180.9 209.6 149.9 120.4 127.1 119.7 100.5 37.3 29.2 65.8 54.0 67.5 14.2 11.1 12.6 10.2 18.0 4.9 8.6 3.5 7.5 9.6 6.1 9.7 15.9 15.5 16.4 24.4 10.1 15.9 22.0 27.3 31.8 40.0 41.3 42.9
Total Assets 10,132 9,724.3 9,147.4 7,360.4 7,205.6 7,202.7 7,152 7,043.9 7,080 7,213.1 7,534 8,962.2 9,112.7 3,248.5 3,199.6 3,323.6 3,540.3 3,518.6 3,479.3 3,455.0 3,362.6 3,433.9 3,304.5 3,295.8 3,366.0 3,461.7 3,456.1 3,422.1 3,415.8 1,937.5 2,004.2 2,030.0 1,995.7 1,993.3 1,908.8 1,921.8 1,901.3 1,898.1 1,861.6 1,760.7 1,710.7 1,937.0 1,905.6 1,848.6 973.8 973.1 754.2 315.6 338.3 279.9 187.4 184.9 95.0 95.8 88.7 94.1 84.7 83.1 83.6 112.5 115.1 107.8 98.9 89.1 89.3 70.7 74.8 73.7 79.9 72.2 72.6 71.8 72.1
Total Debt 845 935.3 857 820.7 804.4 803.3 815.2 809.5 806.6 801.6 809.1 1,135.3 1,187 226.8 68.5 55.9 43.6 42.5 41.6 47.7 30.8 33.6 129.8 236.9 299.2 316.2 360.5 378.8 363.1 6.7 8.4 9.7 10.0 10.6 7.5 46.7 43.8 43.3 47.0 58.8 59.5 0.4 0.5 20.8 1.3 1.6 0 1.0 13.0 13.4 12.7 9.2 5.7 6.6 7.1 9.8 11.1 12.8 7.7 1.6 1.7 0 0 0.1 0.1 2.1 0 0 0 0 0 0 0
Stockholders' Equity 7,354 6,984.3 6,616.9 4,959.4 4,816.5 4,703.5 4,632 4,610.9 4,669 4,760.7 4,848.3 4,909.9 4,997.4 2,195.5 2,357.6 2,472.5 2,683.2 2,631.6 2,635.3 2,636.3 2,579.7 2,602.5 2,445.7 2,390.0 2,378.8 2,463.1 2,445.3 2,413.4 2,401.8 1,508.2 1,576.7 1,590.9 1,559.0 1,516.8 1,468.3 1,454.9 1,422.9 1,396.3 1,376.8 1,333.4 1,298.7 1,428.1 1,411.2 1,343.8 800.9 792.8 590.4 258.7 244.1 184.1 120.9 119.3 55.5 65.1 63.1 62.0 56.0 57.5 60.9 101.4 102.1 94.9 88.5 79.1 80.5 61.7 65.2 66.2 66.8 60.6 60.5 59.9 61.1
Cash Flow
Operating Cash Flow 505 610.0 308.7 293.4 174.8 274.1 226.2 162.7 61.1 167.3 114.6 118.8 51.3 (112.1) 54.4 20.8 68.8 118.1 157.0 87.1 29.9 170.6 114.9 62.8 114.1 129.5 81.9 83.5 (12.9) 11.9 41.7 66.9 34.4 79.3 63.8 42.9 38.6 45.7 102.3 66.0 0.8 4.2 1.4 2.9 0.4 (0.3) (1.1) 0.1 (3.3) 0.5 (1.8) 1.2 (1.7) 1.6 (1.0) (1.6) (2.3) 0.3 0.6 1.1 (1.4) (3.5) 1.9 0.4 (2.1) 0.1 (2.1) (2.2) (0.4) 0.8 0.7 0.4 0.1
Capital Expenditure (105) (96.0) (91.1) (60.3) (68.1) (85.4) (75.1) (75.9) (86.9) (118.8) (108.7) (114.8) (38.5) (72.4) (69.1) (71.8) (61.5) (70.1) (62.2) (63.2) (48.0) (53.6) (38.8) (30.3) (55.8) (50.3) (49.9) (66.3) (40.9) (42.3) (33.6) (43.4) (32.6) (36.5) (32.0) (49.3) (44.7) (56.5) (48.5) (52.8) (44.9) (16.5) (14.2) (10.0) (3.0) (3.6) (5.9) (3.6) (3.6) (4.4) (4.1) (2.8) (1.4) (1.5) (0.9) (0.5) (1.6) (9.2) (4.0) (3.0) (2.7) (19.0) 1.9 (8.3) (4.6) (2.9) (4.0) (4.7) (9.9) (9.8) (1.8) (1.7) (0.8)
Free Cash Flow 400 514.1 217.6 233.1 106.7 188.7 151.1 86.8 (25.8) 48.5 5.9 4.0 12.8 (184.5) (14.7) (51) 7.3 48.0 94.8 24.0 (18.1) 116.9 76.1 32.4 58.3 79.2 32.1 17.3 (53.8) (30.4) 8.1 23.5 1.8 42.8 31.8 (6.4) (6.1) (10.8) 53.8 13.3 (44.1) (12.3) (12.9) (7.1) (2.5) (3.9) (7.0) (3.5) (6.9) (3.9) (6.0) (1.7) (3.1) 0.2 (2.0) (2.1) (3.9) (8.9) (3.4) (1.9) (4.1) (22.5) 3.8 (7.9) (6.7) (2.8) (6.1) (6.8) (10.4) (9.0) (1.2) (1.3) (0.7)