Restaurant Brands International Inc. logo QSR - Restaurant Brands International Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY 0
BUY 27
HOLD 15
SELL 2
STRONG
SELL 0
| PRICE TARGET: $83.73 DETAILS
HIGH: $92.00
LOW: $71.00
MEDIAN: $84.00
CONSENSUS: $83.73
UPSIDE: 11.08%
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
Revenue
Revenue 2,264 2,466 2,449 2,410 2,109 2,296 2,291 2,080 1,739 1,820 1,837 1,775 1,590 1,689 1,726 1,639 1,451 1,546 1,495 1,438 1,260 1,358 1,337 1,048 1,225 1,479 1,458 1,400 1,266 1,384.5 1,375 1,343 1,254 1,234.2 1,208.6 1,132.7 1,000.6 1,111.4 1,075.7 1,040.2 918.5 1,057 1,019.7 1,042.2 933.3 416.3 278.9 261.2 240.9 265.2 275.1 278.3 327.7 404.5
Cost of Revenue 1,140 1,294 1,264 1,595 1,405 1,552 1,493 1,294 1,043 1,147 1,075 1,054 944 1,040 1,028 968 871 914 856 831 754 594 752 674 748 618 608 588 539 577.7 577 552 533 607.8 611.8 573.9 534.4 572.2 566.9 549.9 492.4 592.9 561 596.5 562.3 171.2 57.9 51.4 52.9 56.6 63.4 83.3 144.4 186.3
Gross Profit 1,124 1,172 1,185 815 704 744 798 786 696 673 762 721 646 649 698 671 580 632 639 607 506 764 585 374 477 861 850 812 727 806.8 798 791 721 626.4 596.8 558.8 466.2 539.2 508.8 490.3 426.1 464.1 458.7 445.7 371 245.1 221 209.8 188 208.6 211.7 195 183.3 218.2
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
SG&A Expenses 180 192 170 167 184 185 169 170 167 199 164 156 151 148 135 129 124 170 105 100 100 332 88 83 96 302 310 299 297 282.8 284 289 301 77.2 87.4 82.6 81.8 78.3 72.3 63.8 66.1 79.1 76 70.3 78.6 73.7 44.1 43.6 45 52 54.9 51.7 57.6 67.8
Other Expenses 333 333 342 165 85 (76) 52 (47) (15) 6 16 11 48 155 2 1 6 46 1 19 (36) 59 80 48 (8) 48 (31) 22 (4) 7.5 36 0 (1) 43.2 30.1 61.8 48.2 (30.7) 16 2.5 29.4 63 38.7 73.3 68.3 272.7 176 14.7 11.7 0 0 0 0 0
Operating Expenses 513 525 512 332 269 109 221 123 152 205 180 167 199 303 137 130 130 216 106 119 64 391 168 131 88 350 279 321 293 290.3 320 289 300 120.4 117.5 144.4 130 47.6 88.3 66.3 95.5 142.1 114.7 143.6 146.9 346.4 220.1 58.3 56.7 69.5 68 63.4 80.9 110.5
Operating Income
Operating Income 611 647 673 483 435 635 577 663 544 468 582 554 447 346 561 541 450 416 533 488 442 373 417 243 389 511 571 491 434 516.5 478 502 421 506 479.3 414.4 336.2 491.6 420.5 424 330.6 322 344 302.1 224.1 (101.3) 0.9 151.5 131.3 158.1 153.6 152.5 120.8 133.4
Interest Expense 123 125 18 187 186 194 206 204 200 202 195 190 179 170 144 119 109 106 109 106 107 115 115 124 130 137 151 155 153 152.2 134.1 139.1 140.8 140 136.9 132.1 106.8 109.5 111.9 108.5 106 106.7 106.5 115.2 116.6 125.2 49.2 48.7 48.1 0 0 0 0 0
Interest Income 0 0 14 6 8 10 9 9 11 11 13 9 7 4 2 1 0 1 1 0 1 1 1 2 5 6 5 5 4 4.7 4 3.7 2.6 11.1 9.1 4.1 2.1 1.3 1.3 0.9 0.6 0.9 0.9 1 1.4 0.9 0.8 1.1 0.9 48.7 48.4 48.4 49.1 46
Profitability
EBITDA 689 695 628 559 508 716 657 693 598 522 619 605 493 390 602 583 492 461 566 533 485 319 459 285 433 537 612 533 478 556.6 519 544 464 512.4 467.9 455.6 352.8 528.2 455.3 458.9 363.6 356.9 377.2 300.1 266.7 (235.5) 15.3 165.4 145.8 175.5 169.4 168.5 137.4 151.6
EBIT 611 619 552 482 437 639 578 634 549 473 572 556 447 343 556 535 443 410 516 482 436 269 411 239 388 491 565 488 431 514.1 474 498 417 466.2 421.7 410.3 309.4 485.1 412 415.3 321.5 312.7 334.1 254.2 217.9 (259.7) (1.2) 149.6 129.4 158.1 153.6 152.5 120.8 133.4
Income Before Tax 483 494 534 351 305 500 429 484 396 316 423 409 305 202 428 412 323 289 394 362 318 143 288 115 270 366 430 354 302 386.3 343 372 281 325.8 285.1 286.4 204.4 374.3 303.2 306.8 215.5 206 227.6 139 101.3 (384.9) (50.4) 100.9 81.3 90.4 95.3 83.2 53.3 61.7
Income Tax Expense 38 220 94 87 82 139 72 85 68 (410) 59 58 28 (134) (102) 66 53 27 65 (29) 47 4 65 (49) 46 109 79 97 56 85.1 93 58 2 (252.6) 38.3 42.9 37.8 72.9 64.6 59.2 47.2 21.5 44.7 45.2 50.7 4.5 (26.9) 25.8 20.9 23.6 27.1 20.3 17.5 13.1
Net Income 338 113 315 189 159 259 252 280 230 508 252 241 189 229 360 236 183 179 221 259 179 91 145 106 144 165 201 142 135 163 134 167 148 215.2 158.9 157 117.7 185.9 153.8 158.4 117.5 119.2 117.1 78.5 60.4 46 (23.5) 75.1 60.4 66.8 68.2 62.9 35.8 48.6
Per Share Data
EPS (Basic) 0.97 0.34 1.33 0.80 0.68 1.11 1.12 1.26 1.04 2.32 1.16 1.12 0.89 1.10 1.73 1.12 0.87 0.83 1.05 1.27 0.88 0.45 0.74 0.54 0.75 0.86 1.31 1.01 0.98 1.20 0.99 1.26 1.13 0.67 0.76 0.74 0.42 0.99 0.72 0.77 0.43 0.56 0.57 0.13 -0.09 -2.98 -0.07 0.22 0.17 0.18 0.19 0.18 0.10 0.13
EPS (Diluted) 0.74 0.25 0.95 0.58 0.48 0.79 0.78 0.88 0.72 1.60 0.79 0.76 0.61 0.74 1.17 0.76 0.58 0.56 0.71 0.84 0.58 0.30 0.47 0.35 0.48 0.54 0.75 0.55 0.53 0.64 0.53 0.66 0.59 1.59 0.37 0.37 0.21 0.49 0.36 0.38 0.21 0.25 0.24 0.05 -0.04 -2.52 -0.12 0.21 0.17 0.19 0.19 0.18 0.10 0.14
Shares Outstanding 347 334 328 328 326 324 319 317 314 313 314 312 309 306 306 308 309 313 311 307 306 304 303 301 299 298 267 255 252 251 251 249 245.9 241.1 236.6 235.8 234.7 234.2 233.9 233.5 230 206.9 202.4 202.4 202.2 319.1 202.1 202.1 202.1 371.5 358.1 350.9 357.1 375.0
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 1,012 1,163 1,206 1,026 899 1,334 1,176 942 1,049 1,139 1,310 1,213 1,033 1,178 946 838 895 1,087 1,773 1,762 1,563 1,560 1,919 1,540 2,498 1,533 1,732 1,028 902 913 1,143.5 987.5 852.4 1,097 3,607.1 3,435.5 923.9 1,460.4 1,274.4 998.1 825.9
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 767 794 761 778 677 698 693 737 749 749 692 639 612 614 598 551 593 547 537 535 519 536 589 520 414 527 472 476 441 452 481.4 441.8 467.6 489 421.9 388.8 362 403.5 374.3 380.2 366.4
Inventory 203 205 216 167 159 142 169 160 152 166 160 171 145 133 129 114 108 96 96 99 98 96 87 96 85 84 83 81 74 75 91.8 85.5 74.6 78 91.9 89.5 83.3 71.8 85.2 86.7 88.8
Other Current Assets 172 668 832 817 795 108 217 190.7 118.9 119 221 167 103 123 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 110.8 92.8 85.7 57.7 57.7 44.7 50.9
Total Current Assets 2,154 2,830 3,015 2,788 2,530 2,282 2,255 2,029.7 2,068.9 2,173 2,383 2,190 1,893 2,048 1,924 1,568 1,686 1,816 2,584 2,528 2,291 2,264 2,680 2,227 3,059 2,196 2,373 1,654 1,480 1,500 1,765.4 1,630.9 1,482.4 1,750 4,339.8 4,113.5 1,577.1 2,097 1,877.2 1,640.5 1,473
Non-Current Assets
Property, Plant & Equipment 4,233 4,264 4,167 4,152 4,079 4,088 4,099 4,086.4 3,066.8 3,074 2,964 3,051 3,018 3,032 2,969 3,097 3,160 3,165 3,131 3,176 3,168 3,183 3,097 3,075 3,054 3,183 3,128 3,161 3,159 1,996 2,054.1 2,033.9 2,072.7 2,133.3 2,158.2 2,153.5 2,140.4 2,054.7 2,095.8 2,140.5 2,169.6
Goodwill 6,251 6,306 6,221 6,301 6,099 5,986 6,187 6,139.1 5,696.1 5,775 5,681 5,772 5,700 5,688 5,605 5,866 6,050 6,006 5,743 5,831 5,781 5,739 5,571 5,498 5,376 5,651 5,579 5,625 5,555 5,486 5,680 5,619.9 5,693.5 5,782.3 5,810.3 5,683.7 5,787.3 4,675.1 4,762 4,815.7 4,797.7
Intangible Assets 11,079 11,190 11,130 11,279 10,932 10,922 11,347 11,266 10,970 11,107 10,946 11,120 11,005 10,991 10,831 11,296 11,451 11,417 10,652 10,820 10,742 10,701 10,415 10,288 10,085 10,563 10,439 10,543 10,427 10,463 10,821 10,736.4 10,904.6 11,062.2 11,121.8 10,841.6 10,293.5 9,228 9,434 9,541.2 9,539.5
Long-Term Investments 280 169 184 214 310 390 239 403 417 360 580 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 152.8 152.9 159.6
Other Non-Current Assets 883 856 952 954 931 964 944 920.3 896.4 902 523 1,000 910 987 1,228 927 825 842 818 886 875 890 770 928 1,055 767 730 742 672 696 664.8 593.7 606.3 497 497.4 444.6 1,024.1 1,070.1 871.6 831 817.1
Total Non-Current Assets 22,726 22,785 22,654 22,900 22,351 22,350 22,816 22,815.7 21,052.3 21,218 20,694 20,943 20,633 20,698 20,633 21,186 21,486 21,430 20,344 20,713 20,566 20,513 19,853 19,789 19,570 20,164 19,876 20,071 19,813 18,641 19,219.9 18,983.9 19,277.1 19,474 19,587.7 19,123.4 19,245.3 17,027.9 17,316.2 17,481.3 17,483.5
Total Assets 24,880 25,615 25,669 25,688 24,881 24,632 25,071 24,845.4 23,121.1 23,391 23,077 23,133 22,526 22,746 22,557 22,754 23,172 23,246 22,928 23,241 22,857 22,777 22,533 22,016 22,629 22,360 22,249 21,725 21,293 20,141 20,985.3 20,614.8 20,759.5 21,224 23,927.5 23,236.9 20,822.4 19,124.9 19,193.4 19,121.8 18,956.5
Current Liabilities
Account Payables 813 866 826 763 697 765 754 720 734 790 693 735 679 758 696 705 637 614 592 575 488 464 523 470 484 644 510 486 451 513 467 474.4 416.4 496 365.2 376.1 391.4 369.8 352.1 359.9 361.3
Short-Term Debt 286 268 316 221 218 222 126 617 110 101 87 132 128 127 86 112 105 96 113 113 112 79 107 106 76 101 749 92 94 91 79.6 78.8 78.8 78 77.5 76.3 110.1 93.9 94.1 94.9 57.6
Deferred Revenue 89 77 94 266 249 307 256 255 271 325 245 251 229 273 205 210 214 269 188 192 191 233 149 147 134 203 129 142 149 194 145 129.4 136 258 180 186 188.5 249.1 172.8 157.9 161.9
Other Current Liabilities 778 1,337 1,252 589 619 159 149 142 83 165 126 106 84 153 110 87 137 189 94 74 55 90 74 56 44 65 58 55 50 80 82.3 75.6 60.2 90 241.3 192.5 206.6 163.9 180.8 149.5 136.4
Total Current Liabilities 2,178 2,891 2,847 2,754 2,627 2,364 2,208 2,617 1,924 2,144 2,071 2,016 1,882 2,116 1,920 1,763 1,828 1,878 1,752 1,649 1,552 1,601 1,621 1,284 1,472 1,703 2,177 1,383 1,346 1,408 1,320.3 1,318.4 1,239.1 1,655 1,257.7 1,204.7 1,274.9 1,210.7 1,189.9 1,146.7 1,109.7
Non-Current Liabilities
Long-Term Debt 13,228 15,150 13,415 13,428 13,441 13,455 13,571 13,092 12,832 12,854 12,862 12,801 12,821 12,839 12,853 12,881 12,903 12,916 12,379 12,375 12,386 12,397 12,300 12,310 12,822 11,759 11,568 11,737 11,747 11,823 11,766.8 11,776 11,788.1 11,801 11,303.6 11,252.9 9,531.5 8,410.2 8,421.3 8,425.2 8,465.6
Deferred Tax Liabilities 1,083 1,120 1,154 1,205 1,193 1,208 1,242 1,296 1,309 1,296 1,308 1,327 1,288 1,313 1,388 1,345 1,380 1,374 1,407 1,444 1,435 1,425 1,422 1,415 1,487 1,564 1,509 1,575 1,563 1,519 1,524.7 1,400.8 1,432.9 1,508 2,200.3 2,198 2,089.2 1,715.1 1,648.7 1,631.2 1,613.4
Other Non-Current Liabilities 381 (1,428) 410 491 141 105 316 207 216 342 229 324 251 238 433 849 1,045 1,189 1,272 1,477 1,454 1,599 1,291 1,184 1,141 1,029 958 1,076 901 847 1,032.5 955.9 1,102.2 1,166 1,022.8 839.1 474.4 482 555.3 531.2 544.4
Total Non-Current Liabilities 17,411 17,565 17,657 17,844 17,430 17,425 17,824 17,281 16,386 16,517 16,342 16,439 16,333 16,362 16,598 17,082 17,383 17,515 17,068 17,333 17,303 17,455 16,997 16,880 17,405 16,398 16,009 16,382 16,174 15,115 15,270.6 15,072.1 15,278 15,008 15,096.6 14,861 12,653.2 11,128.6 11,187.4 11,159.7 11,211.1
Total Liabilities 19,589 20,456 20,504 20,598 20,057 19,789 20,032 19,898 18,310 18,661 18,413 18,455 18,215 18,478 18,518 18,845 19,211 19,393 18,820 18,982 18,855 19,056 18,618 18,164 18,877 18,101 18,186 17,765 17,520 16,523 16,590.9 16,390.5 16,517.1 16,663 16,354.3 16,065.7 13,928.1 12,339.3 12,377.3 12,306.4 12,320.8
Stockholders' Equity
Common Stock 2,902 2,859 2,502 2,469 2,430 2,357 2,300 2,138 2,076 1,973 2,267 2,247 2,157 2,057 1,964 1,929 2,059 2,156 2,490 2,512 2,454 2,399 2,648 2,602 2,537 2,478 2,460 1,870 1,812 1,737 2,155.7 2,116.4 2,096.6 2,052 2,019.6 2,003 1,987 1,955.1 1,935.8 1,923.2 1,907.8
Retained Earnings 1,903 1,795 1,902 1,794 1,811 1,860 1,794 1,734 1,640 1,599 1,268 1,198 1,134 1,121 1,062 871 804 791 779 728 635 622 692 708 761 775 762 704 692 674 626 607.8 553.9 651 541.1 497.6 453.3 445.7 367.4 318.8 263.3
Accumulated Other Comprehensive Income (1,062) (1,020) (1,023) (946) (1,125) (1,107) (858) (804) (747) (706) (627) (591) (716) (679) (713) (586) (573) (710) (753) (679) (719) (854) (997) (1,025) (1,113) (763) (864) (717) (775) (800) (596.3) (647.4) (572.5) (476) (425.1) (578.1) (666.6) (698.3) (594.9) (540.4) (568.7)
Total Stockholders' Equity 3,743 3,634 3,381 3,317 3,116 3,110 3,236 3,067.6 2,965.9 2,866 2,908 2,854 2,575 2,499 2,313 2,214 2,290 2,237 2,516 2,561 2,370 2,167 2,343 2,285 2,185 2,490 2,358 1,857 1,729 1,611 2,185.4 2,076.8 2,078 2,226.4 5,432.6 5,219.5 5,070.7 4,999.5 5,005.3 4,998.6 4,899.4
Total Liabilities & Equity 24,880 25,615 25,669 25,688 24,881 24,632 25,071 24,845.4 23,121.1 23,391 23,077 23,133 22,526 22,746 22,557 22,754 23,172 23,246 22,928 23,241 22,857 22,777 22,533 22,016 22,629 22,360 22,249 21,725 21,293 20,141 20,985.3 20,614.8 20,759.5 21,223.5 23,927.5 23,236.9 20,822.4 19,124.9 19,193.4 19,121.8 18,956.5
Debt Metrics
Total Debt 15,683 17,579 15,842 15,996 15,946 15,956 16,007 16,003 14,511 14,515 14,440 14,472 14,464 14,491 14,469 14,571 14,625 14,620 14,081 14,104 14,104 14,123 13,976 13,971 14,458 13,466 13,907 13,403 13,411 12,332 12,303.4 12,310.2 12,340.4 12,375 11,910.5 11,859.7 10,162.6 8,998.3 9,049.9 9,066.7 9,084.6
Net Debt 14,671 16,416 14,636 14,970 15,047 14,622 14,831 15,061 13,462 13,376 13,130 13,259 13,431 13,313 13,523 13,733 13,730 13,533 12,308 12,342 12,541 12,563 12,057 12,431 11,960 11,933 12,175 12,375 12,509 11,419 11,159.9 11,322.7 11,488 11,278 8,303.4 8,424.2 9,238.7 7,537.9 7,775.5 8,068.6 8,258.7
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 338 113 436 263 221 259 357 279.9 229.0 522.0 364 351 277 336 530 346 270 262 329 391 271 139 223 164 224 257 351 257 246 301.2 249.8 314.2 278.8 578.4 246.8 243.5 166.6 301.4 238.6 247.6 168.3
Depreciation & Amortization 78 82 77 77 71 77 79.6 59.0 48.8 50.4 47 49 46 47 46 48 49 51 50 51 49 50 48 46 45 46 47 45 47 42.5 44.9 45.6 47 46.2 46.2 45.3 43.4 43.1 43.3 43.6 42.1
Stock-Based Compensation 0 38 32 33 48 48 37 41 46 53 49 47 45 43 34 32 27 40 22 18 22 19 16 20 19 12 17 17 22 8.7 12.7 13.3 13.3 10.3 10.8 10.7 16.5 9.2 9.8 9.7 6.4
Change in Working Capital (204) 52 226 (13) (213) 115 100 (52) (186) (19.9) 5 (12) (228) (43) (157) 10 (120) 146 46 (112) (68) 80 (21) (117) (108) 7 105 23 (172) 202 16.4 104.6 (446) 600 (37) (162.3) (6.7) (20.7) 86.8 1 (64.7)
Other Non-Cash Items 64 256.0 (197.5) 106.4 (24) (29) (7.5) 12.8 (8.3) 187.6 (25) (31) (17) 71 (26) (17) 24 12 52 121 (22) 113 135 47 (13) 169 (45) (6) (27) (85.4) (2.3) (40.2) 14.9 72.9 91.2 61.1 40.5 (28.5) 11.1 9.6 9.7
Operating Cash Flow 227 541.0 546.5 459.4 118 481 540 332.6 147.3 403 433 392 95 423 398 435 234 471 510 479 266 313 412 60 136 565 436 321 154 491.9 385.7 398.4 (111) 568.5 332.5 205.4 275.6 350 413.7 322 183.3
Investing Activities
Capital Expenditure (58) (100.1) (61.6) (39.9) (64) (77) (55.2) (42.9) (25.9) (47) (25) (30) (18) (48) (24) (18) (10) (36) (24) (31) (15) (46) (32) (20) (19) (30) (18) (9) (5) (32.7) (31.7) (14.6) (7) (19.8) (5.2) (7.6) (4.1) (15.5) (5.4) (7.2) (5.6)
Acquisitions 21 0 0 (1) (151) 10.2 3.0 (499.5) (21) 14.3 9.9 9.1 4.0 0.9 0.9 (5.9) 4.0 (996.6) 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 45.1 0 0 (1,635.9) 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.1)
Sales/Maturities of Investments 0 0 0 (21) 21 0 (16) 0 16 0 0 0 14 0 0 0 3 0 1 0 2 4 7 10 12 7 2 4 11 9.5 4 12.3 7.2 (17.8) 3.8 770.5 9.3 10.2 7.8 5.5 4.1
Other Investing Activities 4 (81.6) 50.4 38.3 10 22.8 11.2 18.0 0.0 55.7 12.1 12.9 4 49.1 3.1 (23.1) 4.0 (1.4) (10.1) 2 6 (4) 4 1 4 (14) 0 17 5 6.9 (1.5) 1.9 1.7 (13.3) 7.4 3.9 6 12.9 5.1 6.7 9.4
Investing Cash Flow (33) (183.6) (10.6) (21.7) (184) (44) (57) (524.4) (30.9) 22 (3) (8) 4.0 2 (20) (47) 1 (1,034) (33) (29) (7) (46) (21) (9) (3) (37) (16) 12 11 (16.3) (29.2) (0.4) 1.9 (5.9) 6 766.8 (1,624.7) 7.6 7.5 5 6.8
Financing Activities
Net Debt Issuance (28) (226.9) (133.8) (34.2) (33) (26) (25) 301.0 (24) (13) 42 (34.2) (32) (23) (24) (25) (20.2) 509 (9) (27) (27) 13 (26) (520) 1,060 (526.2) 508 (25) (23) 66.9 (23) (21) (22) 434.6 (12.3) 1,692.2 980.1 (17) (18.1) (17.4) (17.2)
Stock Repurchased (32) 0 0 0 0 0 0 0 0 (380.0) (115.5) 0 0 7.6 4.5 (163.7) (161) (366.8) (181.2) 0 0 (391.2) 0 0 0 0 0 0 0 (550.3) 0.3 (25.9) (33.6) (337.1) 0 0 0 0 0 0 0
Dividends Paid (283) (271.8) (284.6) (282) (262) (262) (261) (260.9) (243.9) (255.1) (246.5) (250.7) (243.0) (243.5) (232.1) (244) (241) (244) (246) (245) (239) (243) (20.1) (484) (232) (232) (232) (230) (207) (210.9) (210.1) (210.1) (96.9) (211.6) (155.3) (150.7) (145.9) (141.2) (136.7) (131.9) (128.3)
Other Financing Activities 9 13.3 17.2 8.7 17 22.3 21.9 30.3 26.8 40.9 (9.0) 33.8 29.0 20.8 (2.3) (2.3) (6.8) (21.1) (21.8) (19.9) (15) (41.4) 4.7 (22.4) (3) 19.4 (7.0) 4.3 6 (9.6) 3.7 (2.1) (0.3) (2,994.5) (14.8) (16.3) (32.8) 2.4 (0.3) 2.2 9.6
Financing Cash Flow (306) (472.5) (401.4) (300.1) (265) (260) (253) 91 (202.1) (600) (326) (208) (240) (196) (251) (434) (426) (123) (454) (255) (261) (639) (21) (1,016) 855 (736) 289 (213) (182) (696.1) (205.7) (255.6) (127.6) (3,097.6) (176.3) 1,529.4 809.3 (154.6) (153.3) (147.1) (135.9)
Cash Position
Net Change in Cash (151) (43) 180 127 (435) 158 234.1 (106.1) (90) (170.5) 97 180 (145) 232 108 (57) (192) (686) 11 199 3 (359) 379 (958) 965 (199) 704 126 (11) (230.5) 156 135.1 (245) (2,533.7) 171.6 2,511.6 (536.5) 186 276.3 172.2 68.1
Cash at Beginning 1,163 1,206 1,026 899 1,334 1,176 941.9 1,047.9 1,133.2 1,303.7 1,213 1,033 1,178 946 838 895 1,087 1,773 1,762 1,563 1,560 1,919 1,540 2,498 1,533 1,732 1,028 902 913 1,143.5 987.5 852.4 1,097.4 3,607.1 3,435.5 923.9 1,460.4 1,274.4 998.1 825.9 757.8
Cash at End 1,012 1,163 1,206 1,026 899 1,334 1,176 941.9 1,047.9 1,133.2 1,310 1,213 1,033 1,178 946 838 895 1,087 1,773 1,762 1,563 1,560 1,919 1,540 2,498 1,533 1,732 1,028 902 913 1,143.5 987.5 852.4 1,073.4 3,607.1 3,435.5 923.9 1,460.4 1,274.4 998.1 825.9
Free Cash Flow 169 440.9 484.9 419.5 54 404 485 289.8 121.5 356 408 362 77 375 374 417 224 435 486 448 251 267 380 40 117 535 418 312 149 459.2 354 383.8 (118) 548.7 327.3 197.8 271.5 334.5 408.3 314.8 177.7
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
Income Statement
Revenue 2,264 2,466 2,449 2,410 2,109 2,296 2,291 2,080 1,739 1,820 1,837 1,775 1,590 1,689 1,726 1,639 1,451 1,546 1,495 1,438 1,260 1,358 1,337 1,048 1,225 1,479 1,458 1,400 1,266 1,384.5 1,375 1,343 1,254 1,234.2 1,208.6 1,132.7 1,000.6 1,111.4 1,075.7 1,040.2 918.5 1,057 1,019.7 1,042.2 933.3 416.3 278.9 261.2 240.9 265.2 275.1 278.3 327.7 404.5
Gross Profit 1,124 1,172 1,185 815 704 744 798 786 696 673 762 721 646 649 698 671 580 632 639 607 506 764 585 374 477 861 850 812 727 806.8 798 791 721 626.4 596.8 558.8 466.2 539.2 508.8 490.3 426.1 464.1 458.7 445.7 371 245.1 221 209.8 188 208.6 211.7 195 183.3 218.2
Operating Income 611 647 673 483 435 635 577 663 544 468 582 554 447 346 561 541 450 416 533 488 442 373 417 243 389 511 571 491 434 516.5 478 502 421 506 479.3 414.4 336.2 491.6 420.5 424 330.6 322 344 302.1 224.1 (101.3) 0.9 151.5 131.3 158.1 153.6 152.5 120.8 133.4
Net Income 338 113 315 189 159 259 252 280 230 508 252 241 189 229 360 236 183 179 221 259 179 91 145 106 144 165 201 142 135 163 134 167 148 215.2 158.9 157 117.7 185.9 153.8 158.4 117.5 119.2 117.1 78.5 60.4 46 (23.5) 75.1 60.4 66.8 68.2 62.9 35.8 48.6
EPS (Diluted) 0.74 0.25 0.95 0.58 0.48 0.79 0.78 0.88 0.72 1.60 0.79 0.76 0.61 0.74 1.17 0.76 0.58 0.56 0.71 0.84 0.58 0.30 0.47 0.35 0.48 0.54 0.75 0.55 0.53 0.64 0.53 0.66 0.59 1.59 0.37 0.37 0.21 0.49 0.36 0.38 0.21 0.25 0.24 0.05 -0.04 -2.52 -0.12 0.21 0.17 0.19 0.19 0.18 0.10 0.14
Balance Sheet
Cash & Equivalents 1,012 1,163 1,206 1,026 899 1,334 1,176 942 1,049 1,139 1,310 1,213 1,033 1,178 946 838 895 1,087 1,773 1,762 1,563 1,560 1,919 1,540 2,498 1,533 1,732 1,028 902 913 1,143.5 987.5 852.4 1,097 3,607.1 3,435.5 923.9 1,460.4 1,274.4 998.1 825.9
Total Assets 24,880 25,615 25,669 25,688 24,881 24,632 25,071 24,845.4 23,121.1 23,391 23,077 23,133 22,526 22,746 22,557 22,754 23,172 23,246 22,928 23,241 22,857 22,777 22,533 22,016 22,629 22,360 22,249 21,725 21,293 20,141 20,985.3 20,614.8 20,759.5 21,224 23,927.5 23,236.9 20,822.4 19,124.9 19,193.4 19,121.8 18,956.5
Total Debt 15,683 17,579 15,842 15,996 15,946 15,956 16,007 16,003 14,511 14,515 14,440 14,472 14,464 14,491 14,469 14,571 14,625 14,620 14,081 14,104 14,104 14,123 13,976 13,971 14,458 13,466 13,907 13,403 13,411 12,332 12,303.4 12,310.2 12,340.4 12,375 11,910.5 11,859.7 10,162.6 8,998.3 9,049.9 9,066.7 9,084.6
Stockholders' Equity 3,743 3,634 3,381 3,317 3,116 3,110 3,236 3,067.6 2,965.9 2,866 2,908 2,854 2,575 2,499 2,313 2,214 2,290 2,237 2,516 2,561 2,370 2,167 2,343 2,285 2,185 2,490 2,358 1,857 1,729 1,611 2,185.4 2,076.8 2,078 2,226.4 5,432.6 5,219.5 5,070.7 4,999.5 5,005.3 4,998.6 4,899.4
Cash Flow
Operating Cash Flow 227 541.0 546.5 459.4 118 481 540 332.6 147.3 403 433 392 95 423 398 435 234 471 510 479 266 313 412 60 136 565 436 321 154 491.9 385.7 398.4 (111) 568.5 332.5 205.4 275.6 350 413.7 322 183.3
Capital Expenditure (58) (100.1) (61.6) (39.9) (64) (77) (55.2) (42.9) (25.9) (47) (25) (30) (18) (48) (24) (18) (10) (36) (24) (31) (15) (46) (32) (20) (19) (30) (18) (9) (5) (32.7) (31.7) (14.6) (7) (19.8) (5.2) (7.6) (4.1) (15.5) (5.4) (7.2) (5.6)
Free Cash Flow 169 440.9 484.9 419.5 54 404 485 289.8 121.5 356 408 362 77 375 374 417 224 435 486 448 251 267 380 40 117 535 418 312 149 459.2 354 383.8 (118) 548.7 327.3 197.8 271.5 334.5 408.3 314.8 177.7