PANW - Palo Alto Networks, Inc.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$398.70
DETAILS
HIGH:
$475.00
LOW:
$290.00
MEDIAN:
$415.00
CONSENSUS:
$398.70
UPSIDE:
0.05%
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||||||||
| Revenue | 11,480 | 9,221.5 | 8,027.5 | 6,892.7 | 5,501.5 | 4,256.1 | 3,408.4 | 2,899.6 | 2,273.1 | 1,761.6 | 1,378.5 | 928.1 | 598.2 | 396.1 | 255.1 | 118.6 | 48.8 | 13.4 |
| Cost of Revenue | 3,403 | 2,451.6 | 2,059.2 | 1,909.7 | 1,718.7 | 1,274.9 | 999.5 | 808.4 | 645.3 | 476.6 | 370 | 251.5 | 159.6 | 109.8 | 70.6 | 32.3 | 15.6 | 6.3 |
| Gross Profit | 8,077 | 6,769.9 | 5,968.3 | 4,983 | 3,782.8 | 2,981.2 | 2,408.9 | 2,091.2 | 1,627.8 | 1,285 | 1,008.5 | 676.6 | 438.6 | 286.4 | 184.6 | 86.3 | 33.1 | 7.1 |
| Operating Expenses | ||||||||||||||||||
| R&D Expenses | 2,552 | 1,984.1 | 1,809.4 | 1,604 | 1,417.7 | 1,140.4 | 768.1 | 539.5 | 400.7 | 347.4 | 284.2 | 185.8 | 104.8 | 62.5 | 38.6 | 21.4 | 12.8 | 8.2 |
| SG&A Expenses | 4,830 | 3,542.9 | 3,475 | 2,991.7 | 2,553.9 | 2,144.9 | 1,819.8 | 1,605.8 | 1,332 | 1,097.1 | 881.6 | 590.6 | 407.9 | 242.5 | 142.1 | 75.4 | 41.0 | 17.9 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 141.2 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 7,382 | 5,527 | 5,284.4 | 4,595.7 | 3,971.6 | 3,285.3 | 2,587.9 | 2,145.3 | 1,732.7 | 1,444.5 | 1,165.8 | 776.4 | 653.9 | 305.0 | 180.7 | 96.7 | 53.8 | 26.1 |
| Operating Income | ||||||||||||||||||
| Operating Income | 695 | 1,242.9 | 683.9 | 387.3 | (188.8) | (304.1) | (179) | (54.1) | (104.2) | (165.8) | (157.3) | (99.8) | (215.3) | (18.6) | 3.9 | (10.4) | (20.7) | (19.0) |
| Interest Expense | 0 | 3 | 8.3 | 27.2 | 27.4 | 163.3 | 88.7 | 83.9 | 29.6 | 24.5 | 23.4 | 22.3 | 1.9 | 0.0 | 2.2 | 0 | 0 | 0 |
| Interest Income | 0 | 363.5 | 317.9 | 224.4 | 15.6 | 8.5 | 41.4 | 69.8 | 27.1 | 14.7 | 8.8 | 3.9 | 0 | 0.5 | 0.0 | 0.0 | 0.0 | 0.1 |
| Profitability | ||||||||||||||||||
| EBITDA | 1,391 | 1,940.6 | 1,276.4 | 869 | 95.6 | (46.6) | 59.5 | 163.1 | 20.7 | (95.8) | (106.1) | (70.7) | (200.9) | (8.7) | 9.0 | (8.2) | (19.5) | (17.9) |
| EBIT | 536 | 1,597.6 | 993.1 | 586.8 | (187) | (307) | (146.6) | 9.3 | (75.7) | (155.6) | (148.9) | (99.6) | (220.3) | (18.6) | 2.8 | (10.4) | (20.7) | (19.0) |
| Income Before Tax | 536 | 1,595.7 | 988.3 | 566.3 | (207.2) | (465) | (231.8) | (74.6) | (130.2) | (194.1) | (205.1) | (155.6) | (222.2) | (18.7) | 2.8 | (12.1) | (21.1) | (19.0) |
| Income Tax Expense | 229 | 461.8 | (1,589.3) | 126.6 | 59.8 | 33.9 | 35.2 | 7.3 | 17.7 | 22.5 | 20.8 | 9.4 | 4.3 | 10.6 | 2.1 | 0.5 | 0.1 | 0.0 |
| Net Income | 307 | 1,133.9 | 2,577.6 | 439.7 | (267) | (498.9) | (267) | (81.9) | (147.9) | (216.6) | (225.9) | (165.0) | (226.5) | (29.2) | 0.7 | (12.5) | (21.1) | (19.0) |
| Per Share Data | ||||||||||||||||||
| EPS (Basic) | 0.46 | 1.71 | 4.04 | 0.73 | -0.45 | -0.86 | -0.46 | -0.14 | -0.27 | -0.40 | -0.43 | -0.34 | -0.51 | -0.07 | 0.00 | -0.04 | -0.07 | -0.06 |
| EPS (Diluted) | 0.44 | 1.60 | 3.64 | 0.64 | -0.45 | -0.86 | -0.46 | -0.14 | -0.27 | -0.40 | -0.43 | -0.34 | -0.51 | -0.07 | 0.00 | -0.03 | -0.07 | -0.06 |
| Shares Outstanding | 749 | 662.5 | 638.4 | 606.4 | 591.0 | 578.4 | 581.4 | 567.0 | 550.2 | 543.6 | 522.6 | 489.6 | 445.8 | 412.1 | 400.2 | 350.5 | 331.7 | 331.7 |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||||
| Cash & Cash Equivalents | 2,514 | 2,268.6 | 1,535.2 | 1,135.3 | 2,118.5 | 1,874.2 | 2,958 | 961.4 | 2,506.9 | 744.3 | 734.4 | 375.8 | 653.8 | 310.6 | 322.6 | 40.5 | 18.8 |
| Short-Term Investments | 557 | 634.6 | 1,043.6 | 1,254.7 | 1,516 | 1,026.9 | 789.8 | 1,841.7 | 896.5 | 630.7 | 551.2 | 413.2 | 118.7 | 109.0 | 0 | 0 | 0 |
| Net Receivables | 4,221 | 3,679.6 | 3,344.5 | 2,852 | 2,253.8 | 1,240.4 | 1,037.1 | 582.4 | 467 | 432.1 | 348.7 | 212.4 | 135.5 | 87.5 | 45.6 | 29.7 | 14.2 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.5 | 2.5 |
| Other Current Assets | 1,348 | 520.5 | 384.7 | 339.2 | 317.7 | 365 | 222.4 | 0 | 0 | 0 | 0 | 72.7 | 0 | 0 | 0 | 2.2 | 0.0 |
| Total Current Assets | 8,643 | 7,103.3 | 6,849.7 | 6,048 | 6,414.9 | 4,647.3 | 5,129.2 | 3,664.8 | 4,132 | 1,976.3 | 1,774 | 1,074.0 | 958.3 | 529.7 | 381.7 | 76.8 | 35.7 |
| Non-Current Assets | |||||||||||||||||
| Property, Plant & Equipment | 1,223 | 734.3 | 747 | 617.8 | 599.8 | 581.3 | 606.8 | 296 | 273.1 | 211.1 | 117.2 | 62.9 | 48.7 | 32.1 | 21.0 | 12.7 | 1.8 |
| Goodwill | 22,010 | 4,566.6 | 3,350.1 | 2,926.8 | 2,747.7 | 2,710.1 | 1,812.9 | 1,352.3 | 522.8 | 238.8 | 163.5 | 163.5 | 155.0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 7,017 | 762.7 | 374.9 | 315.4 | 384.5 | 498.6 | 358.2 | 280.6 | 140.8 | 53.7 | 44 | 52.7 | 48.0 | 1.4 | 0 | 0 | 0 |
| Long-Term Investments | 4,835 | 6,557.9 | 4,173.2 | 3,047.9 | 1,051.9 | 888.3 | 554.4 | 575.4 | 547.5 | 789.3 | 652.8 | 538.8 | 201.9 | 17.3 | 0 | 0 | 0 |
| Other Non-Current Assets | 2,289 | 1,427.2 | 2,097 | 344.8 | 1,054.8 | 421.4 | 603.9 | 423.1 | 206.8 | 169.1 | 106.7 | 73.3 | 66.5 | 6.5 | 5.2 | 1.7 | 0.6 |
| Total Non-Current Assets | 39,817 | 16,472.9 | 13,141.2 | 8,453.1 | 5,838.7 | 5,594.3 | 3,936.2 | 2,927.4 | 1,691 | 1,462 | 1,084.2 | 891.1 | 520.1 | 55.9 | 26.1 | 14.3 | 2.5 |
| Total Assets | 48,460 | 23,576.2 | 19,990.9 | 14,501.1 | 12,253.6 | 10,241.6 | 9,065.4 | 6,592.2 | 5,823 | 3,438.3 | 2,858.2 | 1,965.2 | 1,478.5 | 585.6 | 407.8 | 91.2 | 38.1 |
| Current Liabilities | |||||||||||||||||
| Account Payables | 290 | 232.2 | 116.3 | 132.3 | 128 | 56.9 | 63.6 | 73.3 | 49.4 | 35.5 | 30.2 | 13.2 | 14.5 | 15.5 | 9.2 | 5.4 | 2.7 |
| Short-Term Debt | 0 | 0 | 963.9 | 1,991.5 | 3,676.8 | 1,557.9 | 0 | 0 | 550.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 7,747 | 6,302.2 | 5,541.1 | 4,674.6 | 3,641.2 | 2,741.9 | 2,049.1 | 1,582.1 | 1,213.6 | 968.4 | 703.9 | 423.9 | 259.9 | 153.9 | 86.3 | 45.3 | 16.5 |
| Other Current Liabilities | 0 | 846 | 554.7 | 548.3 | 461.1 | 430.6 | 322.2 | 162.4 | 201.4 | 79.9 | 73.5 | 515.4 | 48.7 | 14.6 | 2.3 | 7.0 | 6.2 |
| Total Current Liabilities | 9,923 | 7,988 | 7,682.7 | 7,737.5 | 8,306.3 | 5,116.7 | 2,691.7 | 2,053.3 | 2,139.4 | 1,201.3 | 846.8 | 1,032.2 | 348.2 | 206.1 | 122.0 | 67.1 | 28.7 |
| Non-Current Liabilities | |||||||||||||||||
| Long-Term Debt | 1,774 | 0 | 0 | 0 | 0 | 1,668.1 | 3,084.1 | 1,430 | 1,369.7 | 524.7 | 500.2 | 0 | 466.9 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 251 | 89.1 | 387.7 | 28.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (487.1) | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1,285 | 886.8 | 430.9 | 86.1 | 108.4 | 97.7 | 90.1 | 216 | 229.6 | 147.6 | 79.4 | 155.3 | 32.2 | 11.8 | 7.2 | 73.5 | 67.5 |
| Total Non-Current Liabilities | 11,045 | 7,763.8 | 7,138.5 | 5,015.2 | 3,737.3 | 4,361.3 | 5,271.9 | 2,952.6 | 2,695.3 | 1,477.4 | 1,124.5 | 357.1 | 661.7 | 107.1 | 56.7 | 95.5 | 75.1 |
| Total Liabilities | 20,968 | 15,751.8 | 14,821.2 | 12,752.7 | 12,043.6 | 9,478 | 7,963.6 | 5,005.9 | 4,834.7 | 2,678.7 | 1,971.3 | 1,389.4 | 1,009.9 | 313.2 | 178.7 | 162.6 | 103.8 |
| Stockholders' Equity | |||||||||||||||||
| Common Stock | 24,772 | 5,291.9 | 3,821.1 | 3,019 | 1,932.7 | 2,311.2 | 2,259.2 | 2,490.9 | 1,967.4 | 1,599.7 | 1,515.5 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Retained Earnings | 2,791 | 2,484.1 | 1,350.2 | (1,227.4) | (1,667.1) | (1,666.8) | (1,167.9) | (900.9) | (984.6) | (836.7) | (726.6) | (500.7) | (335.7) | (109.3) | (80.0) | (80.8) | (68.2) |
| Accumulated Other Comprehensive Income | (71) | 48.4 | (1.6) | (43.2) | (55.6) | (9.9) | 10.5 | (3.7) | (16.4) | (3.4) | 1 | (0.1) | (0.1) | (0.0) | 0 | 0 | (2.9) |
| Total Stockholders' Equity | 27,492 | 7,824.4 | 5,169.7 | 1,748.4 | 210 | 763.6 | 1,101.8 | 1,586.3 | 988.3 | 759.6 | 789.9 | 575.8 | 468.6 | 272.4 | 229.1 | (71.5) | (65.6) |
| Total Liabilities & Equity | 48,460 | 23,576.2 | 19,990.9 | 14,501.1 | 12,253.6 | 10,241.6 | 9,065.4 | 6,592.2 | 5,823 | 3,438.3 | 2,761.2 | 1,965.2 | 1,478.5 | 585.6 | 407.8 | 91.2 | 38.1 |
| Debt Metrics | |||||||||||||||||
| Total Debt | 2,500 | 338.2 | 1,344.4 | 2,270.7 | 3,952.9 | 3,539.4 | 3,420.7 | 1,430 | 1,920.1 | 524.7 | 508.2 | 487.1 | 466.9 | 0 | 0 | 0 | 0 |
| Net Debt | (14) | (1,930.4) | (190.8) | 1,135.4 | 1,834.4 | 1,665.2 | 462.7 | 468.6 | (586.8) | (219.6) | (226.2) | 111.3 | (186.9) | (310.6) | (322.6) | (40.5) | (18.8) |
| Metric | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||
| Net Income | 307 | 1,134 | 2,577.6 | 439.7 | (267) | (498.9) | (267) | (81.9) | (147.9) | (216.6) | (225.9) | (165.0) | (226.5) | (29.2) | 0.7 | (12.5) | (21.1) | (19.0) |
| Depreciation & Amortization | 855 | 343 | 283.3 | 282.2 | 282.6 | 260.4 | 206.1 | 153.8 | 96.4 | 59.8 | 42.8 | 28.9 | 19.4 | 9.9 | 6.1 | 2.2 | 1.1 | 1.2 |
| Stock-Based Compensation | 1,774 | 1,295.1 | 1,075.4 | 1,074.5 | 1,011.1 | 894.5 | 658.4 | 567.7 | 496.7 | 474.5 | 392.8 | 221.3 | 99.8 | 43.7 | 13.8 | 4.7 | 0.9 | 0.4 |
| Change in Working Capital | 579 | 922.8 | 910.3 | 550.8 | 520.8 | 348.6 | 71.8 | 227.5 | 521.4 | 502.7 | 422.5 | 242.1 | 141.2 | 94.7 | 55.9 | 36.1 | 16.0 | 3.9 |
| Other Non-Cash Items | 1,057 | 371.1 | 444.7 | (1,479.8) | 440.3 | 485.3 | 372.6 | 206 | 69.9 | 24.5 | 23.4 | 22.2 | 48.0 | 0.3 | 1.7 | (11.0) | (20.7) | (0.0) |
| Operating Cash Flow | 4,553 | 3,716 | 3,257.6 | 2,777.5 | 1,984.7 | 1,503 | 1,035.7 | 1,055.6 | 1,037 | 868.5 | 658.1 | 350.3 | 88.4 | 114.5 | 77.4 | 32.1 | (2.7) | (13.5) |
| Investing Activities | ||||||||||||||||||
| Capital Expenditure | (440) | (246.2) | (156.8) | (146.3) | (192.8) | (116) | (214.4) | (131.2) | (112) | (163.4) | (72.5) | (33.8) | (36.1) | (22.4) | (14.6) | (13) | (1.7) | (1.0) |
| Acquisitions | (4,663) | (1,054.4) | (610.6) | (204.5) | (37) | (777.3) | (583.5) | (773.7) | (374.1) | (90.7) | (6.4) | (15.1) | (85.7) | 22.4 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (3,694) | (3,695.9) | (3,551.3) | (5,460.4) | (2,271.7) | (1,958.9) | (1,180.8) | (2,984.6) | (725.7) | (995.9) | (1,037) | (987.6) | (506.6) | (345.3) | 0 | 0 | 0 | 0 |
| Sales/Maturities of Investments | 5,693 | 2,791.8 | 2,808.8 | 3,777.4 | 1,568.1 | 1,371.6 | 2,266.7 | 2,063.6 | 691.8 | 777.4 | 770.6 | 357.5 | 308.1 | 216.2 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.4 | 0 | 0 | (22.4) | 0 | 0 | 0 | 0 |
| Investing Cash Flow | (3,104) | (2,204.7) | (1,509.9) | (2,033.8) | (933.4) | (1,480.6) | 288 | (1,825.9) | (520) | (472.6) | (338.9) | (679.0) | (320.3) | (151.6) | (14.6) | (13) | (1.7) | (1.0) |
| Financing Activities | ||||||||||||||||||
| Net Debt Issuance | (150) | (965.6) | (1,033.7) | (1,692) | (0.6) | (0.9) | 1,979.1 | (477.4) | 1,682.4 | 0 | 0 | 0 | 560.4 | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | (1,000) | 0 | (566.7) | (272.7) | (892.3) | (1,178.1) | (1,198.1) | (330) | (259.1) | (411) | 0 | 0 | (0.1) | (2.8) | (0.1) | (0.1) | (0.0) | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | (317) | (183.8) | 257.3 | 238.4 | 86.3 | 75 | (85.3) | (38.2) | (134) | 46.4 | 38.9 | 50.7 | (97.1) | 27.8 | 219.4 | 2.7 | 1.9 | (0.6) |
| Financing Cash Flow | (1,202) | (778.9) | (1,343.1) | (1,726.3) | (806.6) | (1,104) | 673 | (773.9) | 1,245.6 | (386) | 39.4 | 50.7 | 575.1 | 25.0 | 219.3 | 2.6 | 1.8 | 34.6 |
| Cash Position | ||||||||||||||||||
| Net Change in Cash | 244 | 732.4 | 404.6 | (982.6) | 244.7 | (1,081.6) | 1,996.7 | (1,544.2) | 1,762.6 | 9.9 | 358.6 | (278.0) | 343.2 | (12.0) | 282.1 | 21.7 | (2.5) | 20.1 |
| Cash at Beginning | 2,279 | 1,546.8 | 1,142.2 | 2,124.8 | 1,880.1 | 2,961.7 | 965 | 2,509.2 | 744.3 | 734.4 | 375.8 | 653.8 | 310.6 | 322.6 | 40.5 | 18.8 | 21.4 | 1.3 |
| Cash at End | 2,523 | 2,279.2 | 1,546.8 | 1,142.2 | 2,124.8 | 1,880.1 | 2,961.7 | 965 | 2,506.9 | 744.3 | 734.4 | 375.8 | 653.8 | 310.6 | 322.6 | 40.5 | 18.8 | 21.4 |
| Free Cash Flow | 4,113 | 3,469.8 | 3,100.8 | 2,631.2 | 1,791.9 | 1,387 | 821.3 | 924.4 | 925 | 705.1 | 585.6 | 316.5 | 52.3 | 92.1 | 62.8 | 19.1 | (4.4) | (14.6) |
| Key Metrics | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||||||||
| Revenue | 11,480 | 9,221.5 | 8,027.5 | 6,892.7 | 5,501.5 | 4,256.1 | 3,408.4 | 2,899.6 | 2,273.1 | 1,761.6 | 1,378.5 | 928.1 | 598.2 | 396.1 | 255.1 | 118.6 | 48.8 | 13.4 |
| Gross Profit | 8,077 | 6,769.9 | 5,968.3 | 4,983 | 3,782.8 | 2,981.2 | 2,408.9 | 2,091.2 | 1,627.8 | 1,285 | 1,008.5 | 676.6 | 438.6 | 286.4 | 184.6 | 86.3 | 33.1 | 7.1 |
| Operating Income | 695 | 1,242.9 | 683.9 | 387.3 | (188.8) | (304.1) | (179) | (54.1) | (104.2) | (165.8) | (157.3) | (99.8) | (215.3) | (18.6) | 3.9 | (10.4) | (20.7) | (19.0) |
| Net Income | 307 | 1,133.9 | 2,577.6 | 439.7 | (267) | (498.9) | (267) | (81.9) | (147.9) | (216.6) | (225.9) | (165.0) | (226.5) | (29.2) | 0.7 | (12.5) | (21.1) | (19.0) |
| EPS (Diluted) | 0.44 | 1.60 | 3.64 | 0.64 | -0.45 | -0.86 | -0.46 | -0.14 | -0.27 | -0.40 | -0.43 | -0.34 | -0.51 | -0.07 | 0.00 | -0.03 | -0.07 | -0.06 |
| Balance Sheet | ||||||||||||||||||
| Cash & Equivalents | 2,514 | 2,268.6 | 1,535.2 | 1,135.3 | 2,118.5 | 1,874.2 | 2,958 | 961.4 | 2,506.9 | 744.3 | 734.4 | 375.8 | 653.8 | 310.6 | 322.6 | 40.5 | 18.8 | |
| Total Assets | 48,460 | 23,576.2 | 19,990.9 | 14,501.1 | 12,253.6 | 10,241.6 | 9,065.4 | 6,592.2 | 5,823 | 3,438.3 | 2,858.2 | 1,965.2 | 1,478.5 | 585.6 | 407.8 | 91.2 | 38.1 | |
| Total Debt | 2,500 | 338.2 | 1,344.4 | 2,270.7 | 3,952.9 | 3,539.4 | 3,420.7 | 1,430 | 1,920.1 | 524.7 | 508.2 | 487.1 | 466.9 | 0 | 0 | 0 | 0 | |
| Stockholders' Equity | 27,492 | 7,824.4 | 5,169.7 | 1,748.4 | 210 | 763.6 | 1,101.8 | 1,586.3 | 988.3 | 759.6 | 789.9 | 575.8 | 468.6 | 272.4 | 229.1 | (71.5) | (65.6) | |
| Cash Flow | ||||||||||||||||||
| Operating Cash Flow | 4,553 | 3,716 | 3,257.6 | 2,777.5 | 1,984.7 | 1,503 | 1,035.7 | 1,055.6 | 1,037 | 868.5 | 658.1 | 350.3 | 88.4 | 114.5 | 77.4 | 32.1 | (2.7) | (13.5) |
| Capital Expenditure | (440) | (246.2) | (156.8) | (146.3) | (192.8) | (116) | (214.4) | (131.2) | (112) | (163.4) | (72.5) | (33.8) | (36.1) | (22.4) | (14.6) | (13) | (1.7) | (1.0) |
| Free Cash Flow | 4,113 | 3,469.8 | 3,100.8 | 2,631.2 | 1,791.9 | 1,387 | 821.3 | 924.4 | 925 | 705.1 | 585.6 | 316.5 | 52.3 | 92.1 | 62.8 | 19.1 | (4.4) | (14.6) |