Sea Limited logo SE - Sea Limited

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 31
HOLD 11
SELL 2
STRONG
SELL
0
| PRICE TARGET: $139.67 DETAILS
HIGH: $170.00
LOW: $121.00
MEDIAN: $137.50
CONSENSUS: $139.67
UPSIDE: 60.04%
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
Revenue
Revenue 7,097.5 6,851.9 5,986.0 5,259.5 4,841.1 4,950.4 4,328.2 3,806.9 3,734.3 3,616.6 3,310.2 3,095.7 3,041.1 3,451.6 3,156.0 2,942.6 2,899.6 3,222.1 2,688.9 2,280.5 1,763.6 1,566.5 1,212.2 882.0 714.9 777.2 610.1 436.2 351.9 283.2 204.9 183.8 155.0 124.6 94.1 101.5 93.9 88.5 90.5 90.1 76.6
Cost of Revenue 3,951.9 3,853.5 3,386.7 2,849.7 2,604.9 2,745.0 2,467.2 2,222.1 2,180.6 2,091.8 1,868.9 1,644.8 1,624.4 1,754.3 1,928.2 1,852.4 1,729.5 1,911.4 1,680.2 1,349.7 1,118.2 1,032.8 804.6 681.2 508.1 512.4 407.0 338.7 312.4 291.2 199.3 175.2 146.5 101.1 83.3 75.7 66.8 63.2 58.7 55.8 54.9
Gross Profit 3,145.6 2,998.4 2,599.4 2,409.8 2,236.2 2,205.5 1,861.1 1,584.8 1,553.8 1,524.8 1,441.3 1,450.9 1,416.7 1,697.3 1,227.7 1,090.2 1,170.0 1,310.7 1,008.7 930.9 645.4 533.7 407.6 200.8 206.8 264.9 203.2 97.4 39.5 (8.0) 5.6 8.6 8.5 23.5 10.8 25.8 27.1 25.3 31.8 34.3 21.7
Operating Expenses
R&D Expenses 296.7 277.6 286.3 297.4 295.9 301.2 302.0 298.5 304.4 279.8 280.5 283.3 320.5 244.2 421.0 370.9 340.4 286.6 231.4 172.6 141.1 109.5 104.3 75.3 64.6 49.5 43.6 35.1 28.5 26.6 17.3 12.9 10.7 8.7 7.7 6.7 6.3 5.8 5.6 4.9 4.6
SG&A Expenses 2,283.5 2,183.1 1,490.3 1,332.8 1,236.9 1,416.0 1,185.3 1,078.6 1,060.5 1,200.0 1,191.6 788.8 733.5 487.4 1,221.8 1,449.8 1,320.8 1,538.5 1,304.4 1,164.4 927.8 854.2 667.7 530.9 435.2 451.4 351.0 299.3 253.6 294.6 237.6 216.9 196.6 208.2 164.8 101.7 89.1 103.1 79.5 67.2 50.0
Other Expenses 0 0 346.8 291.8 247.0 182.5 171.3 124.9 117.8 101.5 96.9 95.0 237.4 622.9 80.6 106.2 6.8 (72.3) (68.6) (72.0) (75.1) (72.7) (59.0) (32.6) (25.3) (6.0) (4.0) (2.4) (3.5) (4.3) (3.1) (1.7) (0.7) (2.2) (1.0) (0.2) (0.2) (0.4) (0.4) (0.9) (0.5)
Operating Expenses 2,580.2 2,460.6 2,123.4 1,922.1 1,779.8 1,899.7 1,658.6 1,501.9 1,482.7 1,581.3 1,569.0 1,167.1 1,291.5 1,354.4 1,723.4 1,926.9 1,668.1 1,752.8 1,467.3 1,264.9 993.8 891.0 713.0 573.6 474.5 494.9 390.6 332.0 278.7 317.0 251.8 228.1 206.6 214.7 171.5 108.3 95.1 108.4 84.7 71.2 54.1
Operating Income
Operating Income 565.4 537.7 475.9 487.7 456.4 305.8 202.4 82.9 71.1 (56.5) (127.7) 283.8 125.2 342.9 (495.6) (836.7) (498.0) (442.1) (458.6) (334.0) (348.4) (357.3) (305.5) (372.8) (267.7) (230.0) (187.5) (234.5) (239.2) (325.0) (246.2) (219.5) (198.1) (191.1) (160.7) (82.5) (68.0) (83.2) (52.9) (36.8) (32.5)
Interest Expense 1.6 6.7 8.9 9.0 9.1 9.2 9.7 9.7 9.7 10.2 10.2 10.3 10.4 10.9 11.5 11.4 11.6 52.3 37.1 22.7 26.9 35.0 45.7 43.5 24.5 17.2 10.8 10.2 10.1 9.9 9.9 3.0 8.9 9.1 8.5 6.8 2.2 0.0 0.0 0 0
Interest Income 67.1 70.2 81.4 91.0 88.7 93.3 94.2 91.2 86.9 91.6 88.2 83.1 68.9 54.8 31.2 19.0 10.8 10.9 10.2 7.5 7.5 4.3 5.4 5.9 9.2 9.4 9.7 10.8 4.0 3.0 3.2 2.2 3.2 0.8 36.1 0.3 0.1 0.3 0.2 0.2 0.1
Profitability
EBITDA 667.4 537.7 636.7 490.1 545.3 401.9 312.6 185.2 173.4 45.0 (20.7) 404.0 363.3 636.0 (425.9) (569.8) (408.4) (358.5) (396.4) (309.8) (253.6) (298.5) (262.9) (330.8) (229.5) (195.5) (158.4) (209.0) (213.7) (293.2) (228.8) (205.0) (183.5) (177.6) (151.8) (73.6) (59.2) (67.7) (43.4) (27.3) (23.3)
EBIT 565.4 537.7 544.9 487.7 456.4 305.8 202.4 82.9 71.1 (56.5) (127.7) 283.8 243.1 520.5 (495.6) (659.4) (498.0) (442.1) (458.6) (371.9) (310.5) (351.6) (305.5) (372.8) (267.7) (230.0) (187.5) (234.5) (239.2) (319.8) (246.2) (219.5) (198.1) (190.2) (160.7) (82.5) (68.0) (77.6) (52.9) (36.8) (32.5)
Income Before Tax 652.2 620.5 536.1 558.3 547.1 326.8 245.9 140.5 55.8 (34.7) (82.3) 393.2 149.2 379.4 (504.0) (866.4) (498.3) (510.7) (469.9) (358.5) (371.1) (480.4) (378.8) (365.7) (257.6) (245.9) (178.7) (264.8) (682.4) (273.1) (216.0) 251.0 (216.9) (254.4) (135.0) (89.9) (71.1) (73.3) (62.1) (44.7) (36.4)
Income Tax Expense 214.0 209.6 161.1 144.1 136.3 89.2 92.6 60.6 78.8 76.9 61.7 62.2 61.9 (43.5) 65.3 64.8 81.8 105.6 101.0 75.2 51.0 44.2 46.4 27.8 23.2 36.0 27.4 15.3 7.2 3.0 2.0 0.2 (0.8) 8.7 (2.1) 2.2 1.9 (1.0) 3.5 4.2 1.8
Net Income 427.9 397.1 372.0 414.2 403.1 237.3 153.3 79.9 (23.7) (109.7) (144.0) 331.0 88.1 426.8 (569.3) (931.2) (579.8) (617.6) (573.0) (433.4) (422.7) (523.6) (420.0) (393.0) (281.5) (283.8) (207.6) (281.1) (690.4) (276.6) (218.3) (250.7) (215.6) (262.7) (132.7) (92.1) (73.1) (72.2) (64.9) (48.4) (37.2)
Per Share Data
EPS (Basic) 0.70 0.66 0.63 0.69 0.68 0.41 0.26 0.14 -0.04 -0.19 -0.26 0.57 0.16 0.76 -1.01 -1.67 -1.04 -1.12 -1.06 -0.83 -0.82 -1.06 -0.86 -0.84 -0.61 -0.62 -0.45 -0.63 -1.86 -0.81 -0.65 -0.75 -0.66 -0.90 -0.40 -0.28 -0.22 -0.42 -0.19 -0.19 -0.14
EPS (Diluted) 0.67 0.63 0.59 0.69 0.63 0.39 0.26 0.14 -0.04 -0.19 -0.26 0.54 0.15 0.70 -1.01 -1.67 -1.04 -1.12 -1.06 -0.83 -0.82 -1.06 -0.86 -0.84 -0.61 -0.62 -0.45 -0.63 -1.86 -0.81 -0.65 -0.75 -0.66 -0.90 -0.40 -0.28 -0.22 -0.42 -0.19 -0.19 -0.14
Shares Outstanding 611.6 602.2 595.2 592.0 590.3 580.0 574.3 574.3 570.9 569.5 564.8 564.8 563.6 560.3 558.4 557.4 556.2 553.6 538.7 523.2 514.8 494.8 491.1 466.5 462.2 460.3 463.2 445.0 370.7 340.4 335.0 335.0 335.1 293.3 335.0 324.5 324.5 324.5 335.0 261.3 261.3
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
Current Assets
Cash & Cash Equivalents 6,255.4 6,375.7 3,067.8 2,165.8 2,183.0 2,405.2 2,538.7 2,646.5 2,460.8 2,811.1 3,219.9 3,524.4 6,082.7 6,029.9 6,253.4 6,493.2 7,683.7 9,247.8 11,126.2 4,645.4 5,752.6 6,166.9 3,509.0 3,432.8 2,599.7 3,119.0 2,297.2 2,308.1 2,362.5 1,002.8 1,209.2 1,477.1 1,172.4 1,347.4 581.5 651.1 456.8 170.1
Short-Term Investments 6,505.5 6,413.3 6,834.2 7,244.9 6,243.2 6,215.4 5,374.5 3,387.5 2,941.0 2,547.6 2,762.7 2,174.9 506.4 864.3 1,042.3 1,287.5 1,116.9 911.3 706.0 962.1 309.7 126.1 42.3 14.7 30.5 102.3 9.4 8.9 0.6 0.7 0 0 0 18 0 0 0 0
Net Receivables 8,866.5 8,259.0 7,175.7 6,268.0 5,507.1 5,996.7 4,227.8 3,464.2 3,280.5 4,378.4 2,313.0 2,198.8 2,246.6 3,286.3 2,386.5 2,295.0 2,124.6 2,620.9 1,433.7 1,159.1 795.4 1,181.8 295.9 254.6 163.6 451.4 140.5 152.7 151.5 317.9 66.5 61.0 73.1 185.3 59.2 47.9 42.4 91.8
Inventory 229.3 222.6 209.3 169.3 172.7 143.2 200.7 157.5 142.3 125.4 116.3 98.5 107.3 109.7 122.4 127.2 139.7 117.5 128.7 99.5 92.7 64.2 61.7 61.2 34.2 26.9 21.4 22.5 25.9 37.7 19.6 16.9 13.4 9.8 7.3 5.7 5.9 3.9
Other Current Assets 2,079.3 1,979.0 3,795.8 3,892.3 3,673.2 1,962.4 3,212.4 3,225.0 3,556.7 1,784.5 3,562.0 3,479.2 3,497.3 2,260.1 1,336.8 1,317.4 1,386.1 2,098.4 1,365.7 1,328.1 1,084.8 1,323.3 692.8 677.5 505.4 667.3 360.1 320.2 301.0 325.8 247.8 154.2 159.5 135.9 69.4 34.9 26.7 36.0
Total Current Assets 23,935.9 23,249.5 21,082.8 19,740.3 17,779.3 16,857.7 15,554.2 12,880.7 12,381.3 11,773.9 11,973.9 11,475.8 12,440.3 12,688.0 12,577.9 12,972.1 13,829.9 15,135.4 16,003.7 9,397.1 9,025.9 8,939.0 5,563.1 5,251.0 4,050.6 4,410.1 3,317.8 3,249.7 3,192.5 1,710.7 1,808.5 1,979.3 1,642.3 1,720.7 866.8 868.2 628.6 309.9
Non-Current Assets
Property, Plant & Equipment 2,838.3 2,732.0 2,518.0 2,371.2 2,248.3 2,152.5 2,327.7 2,188.7 2,058.5 2,248.0 2,243.8 2,308.4 2,372.4 2,345.7 2,457.2 2,214.7 2,101.5 1,679.6 1,353.3 830.2 628.6 621.0 552.5 523.5 468.3 501.6 463.1 425.9 406.3 192.4 147.4 121.9 93.9 74.3 47.9 34.1 32.4 32.0
Goodwill 102.6 104.5 104.8 107.6 106.0 107.6 113.8 106.4 110.0 112.8 112.0 115.0 115.9 230.2 408.0 396.8 562.7 539.6 476.7 476.3 467.9 216.3 208.1 223.3 223.3 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 31.0 0 0 0
Intangible Assets 9.3 12.2 15.8 15.3 20.6 27.3 30.8 35.7 42.9 50.8 61.5 61.3 66.4 65.0 74.1 65.5 61.3 52.5 48.7 42.1 41.4 39.8 56.9 37.1 58.5 15.0 14.9 12.9 14.0 12.9 25.7 29.6 33.6 37.3 42.0 24.3 27.2 30.0
Long-Term Investments 2,826.6 2,491.0 1,828.0 2,121.9 2,828.5 2,694.3 2,974.6 3,769.5 4,024.6 4,262.6 3,162.7 3,183.3 1,789.2 1,253.6 1,349.2 1,360.4 1,419.0 1,052.9 334.1 286.4 243.7 190.5 219.1 195.2 143.2 113.8 99.1 100.4 107.1 111.0 118.2 71.0 58.5 28.2 27.1 45.1 45.4 45.1
Other Non-Current Assets 267.7 185.6 595.4 482.1 347.0 268.7 209.2 187.1 147.2 106.2 160.2 183.4 176.9 175.0 312.6 345.8 251.4 192.2 221.2 376.0 404.4 349.3 271.5 286.8 210.8 82.3 82.9 125.8 106.8 71.4 62.4 66.2 56.0 48.6 61.6 52.2 78.9 33.6
Total Non-Current Assets 6,654.3 6,121.5 5,668.5 5,700.1 6,063.8 5,767.8 6,137.5 6,689.3 6,713.8 7,109.3 6,051.2 6,176.5 4,803.6 4,314.8 4,704.4 4,495.6 4,504.7 3,620.6 2,545.0 2,125.9 1,896.7 1,516.7 1,397.5 1,353.2 1,182.2 814.0 764.1 769.4 734.5 482.0 444.0 376.1 328.1 267.6 254.4 196.0 183.9 175.9
Total Assets 30,590.2 29,371.0 26,751.3 25,440.4 23,843.1 22,625.5 21,691.7 19,570.0 19,095.0 18,883.2 18,025.1 17,652.3 17,243.9 17,002.8 17,282.3 17,467.7 18,334.6 18,756.0 18,548.7 11,523.0 10,922.6 10,455.7 6,960.6 6,604.3 5,232.8 5,224.2 4,081.9 4,019.1 3,927.0 2,192.7 2,252.4 2,355.4 1,970.5 1,988.3 1,121.2 1,064.2 812.4 485.8
Current Liabilities
Account Payables 539.1 467.8 480.4 359.1 320.9 350.0 274.8 293.7 280.0 342.5 267.9 219.0 212.3 258.6 289.8 239.0 287.1 213.6 232.7 179.6 152.9 121.6 118.4 96.7 51.0 69.4 48.1 32.4 38.1 37.2 25.2 33.9 13.9 8.6 9.3 8.1 9.4 6.0
Short-Term Debt 1,647.1 1,701.4 2,561.2 1,358.2 1,268.9 1,278.6 294.7 221.8 256.9 298.4 91.6 102.0 133.8 119.6 80.2 0 0 100 0 0 0 0 0 0 2.4 30.7 24.0 25.8 1.0 0.9 0 0 0 2.0 2.0 2.0 2.0 1.9
Deferred Revenue 5,272.3 5,064.4 1,976.6 1,770.2 1,630.7 1,405.8 1,481.0 1,298.4 1,199.6 1,208.9 1,192.2 1,251.7 1,371.6 1,535.1 2,006.5 2,177.8 2,507.3 2,644.5 2,977.3 2,745.2 2,534.7 2,311.5 1,932.5 1,381.1 1,111.2 1,162.9 1,040.9 822.2 602.2 456.0 375.1 298.4 314.0 295.4 185.8 154.0 0 137.7
Other Current Liabilities 7,416.0 7,228.1 0 0 0 0 0 0 0 0 0 0 0 12.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 157.8 0
Total Current Liabilities 15,169.0 14,680.5 14,691.1 12,730.2 11,801.3 11,296.2 9,589.4 8,617.2 8,487.2 8,168.9 7,030.8 6,575.7 6,660.2 6,935.7 7,051.4 6,739.8 6,854.1 7,176.4 6,421.0 5,883.6 5,077.6 4,636.1 3,772.5 2,986.9 2,428.6 2,362.4 2,051.7 1,721.8 1,410.1 1,186.5 946.5 777.9 752.3 637.7 449.8 333.8 288.1 263.8
Non-Current Liabilities
Long-Term Debt 702.8 510.4 294.6 1,538.1 1,659.8 1,728.3 2,897.7 2,861.3 2,897.3 3,069.1 3,439.7 3,391.7 3,340.2 3,338.8 4,148.0 4,177.3 4,175.4 3,475.7 3,503.5 1,282.5 1,757.6 1,840.4 1,920.9 2,109.2 1,374.8 1,356.7 446.6 439.6 582.7 1,062.8 1,116.4 1,145.8 745.7 727.0 674.4 624.8 355 0
Deferred Tax Liabilities 195.8 175.2 30.6 19.4 1.2 0.4 0.3 0.4 0.3 0.1 0.5 0.6 9.3 10.0 8.9 7.3 7.3 7.0 4.8 1.3 1.5 1.5 1.7 0.8 0.9 1.0 0.8 0.6 0.6 0.7 3.5 4.0 4.1 4.4 0 0 0 0
Other Non-Current Liabilities 72.4 108.3 224.5 222.7 209.6 200.7 182.0 143.8 87.4 74.5 80.3 82.6 85.1 75.3 94.9 91.7 90.1 69.3 66.2 61.1 60.3 36.2 27.8 26.7 20.6 21.5 24.0 20.7 12.1 10.9 13.5 11.4 10.8 10.6 212.3 211.7 157.1 210.4
Total Non-Current Liabilities 2,439.8 2,042.1 1,756.4 2,926.3 2,967.5 2,851.7 4,073.7 3,986.6 3,838.9 4,016.7 4,416.2 4,456.4 4,392.0 4,256.3 5,274.8 5,293.1 5,189.2 4,155.2 4,317.2 2,040.5 2,404.5 2,399.4 2,415.3 2,724.9 1,837.2 1,689.2 770.7 858.4 982.9 1,245.6 1,277.7 1,346.0 923.6 875.4 1,087.6 1,009.4 512.1 347.7
Total Liabilities 17,608.8 16,722.7 16,447.5 15,656.5 14,768.7 14,147.9 13,663.1 12,603.7 12,326.1 12,185.6 11,447.1 11,032.1 11,052.3 11,192.0 12,326.2 12,032.9 12,043.2 11,331.6 10,738.2 7,924.1 7,482.1 7,035.4 6,187.8 5,711.8 4,265.8 4,051.5 2,822.4 2,580.2 2,393.0 2,432.1 2,224.3 2,123.9 1,675.9 1,513.1 1,537.4 1,343.2 800.2 611.4
Stockholders' Equity
Common Stock 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1
Retained Earnings (6,158.4) (6,577.4) (6,974.2) (7,346.2) (7,752.2) (8,155.3) (8,375.3) (8,541.1) (8,623.0) (8,599.3) (8,485.7) (8,336.5) (8,657.4) (8,745.5) (9,166.3) (8,601.0) (7,667.6) (7,201.5) (6,579.5) (6,006.5) (5,573.6) (5,151.0) (4,625.1) (4,205.1) (3,812.1) (3,530.6) (3,246.8) (3,039.2) (2,758.1) (2,067.8) (1,791.2) (1,572.9) (1,322.2) (1,106.5) (843.9) (670.1) (578.0) (505.0)
Accumulated Other Comprehensive Income (85.2) 12.7 (45.1) (18.4) (170.7) (193.1) 25.1 (232.0) (176.3) (91.0) (200.9) (127.1) (10.7) (98.7) (260.8) (153.7) (27.2) (22.4) (34.5) (21.2) (9.9) 7.0 (8.1) (10.0) (26.5) 5.5 (6.9) 2.5 11.4 15.2 23.1 25.0 36.0 10.7 9.1 7.1 6.4 8.6
Total Stockholders' Equity 12,853.2 12,526.5 10,195.7 9,676.8 8,963.4 8,372.3 7,916.4 6,867.3 6,667.1 6,593.8 6,467.3 6,511.5 6,093.3 5,715.7 4,897.2 5,373.2 6,261.2 7,398.7 7,787.3 3,560.2 3,403.7 3,382.9 741.2 853.8 920.6 1,162.4 1,252.5 1,433.4 1,529.5 (243.1) 25.1 228.6 289.1 469.0 (424.6) (279.0) 12.2 (125.7)
Total Liabilities & Equity 30,590.2 29,371.0 26,751.3 25,440.4 23,843.1 22,625.5 21,691.7 19,570.0 19,095.0 18,883.2 18,025.1 17,652.3 17,243.9 17,002.8 17,282.3 17,467.7 18,334.6 18,756.0 18,548.7 11,523.0 10,922.6 10,455.7 6,960.6 6,604.3 5,232.8 5,224.2 4,081.9 4,019.1 3,927.0 2,192.7 2,252.4 2,355.4 1,970.5 1,988.3 1,121.2 1,064.2 812.4 485.8
Debt Metrics
Total Debt 3,584.4 3,330.4 4,243.8 4,192.2 4,148.1 4,124.1 4,403.6 4,242.6 4,159.0 4,462.4 4,614.6 4,561.5 4,517.8 4,485.2 5,359.7 5,154.7 5,129.5 4,253.5 4,118.2 1,695.5 2,014.0 2,092.8 2,151.4 2,316.7 1,575.8 1,587.7 654.6 649.3 767.5 1,063.7 1,116.4 1,145.8 745.7 729.0 676.4 626.7 357.0 1.9
Net Debt (2,671.0) (3,045.2) 1,175.9 2,026.3 1,965.1 1,719.0 1,864.9 1,596.1 1,698.1 1,651.3 1,394.7 1,037.1 (1,564.9) (1,544.7) (893.7) (1,338.5) (2,554.1) (4,994.2) (7,008.1) (2,949.9) (3,738.6) (4,074.1) (1,357.7) (1,116.0) (1,023.9) (1,531.2) (1,642.6) (1,658.8) (1,595.0) 60.8 (92.9) (331.3) (426.7) (618.4) 94.9 (24.3) (99.8) (168.2)
Metric 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 397.1 375.0 414.2 403.1 237.3 0 0 (23.6) (110.5) (149.4) 319.8 88.1 (1,078.0) (570.1) (934.2) (579.8) (617.6) (573.0) (433.7) (422.7) (524.6) (420.0) (393.0) (280.8) (281.9) (206.1) (280.1) (690.4) (276.6) (218.6) (249.5) (215.6) (262.7) (132.7) (92.1) (73.1) (72.2) (64.7) (48.4) (37.2)
Depreciation & Amortization 99.8 (91.3) 2.4 88.9 0 0 0 102.1 102.2 107.3 111.4 120.5 7.5 119.6 102.9 89.5 83.6 (119.1) 104.5 56.9 53.1 192.8 64.4 38.2 34.6 107.9 (25.5) 32.3 33.2 52.1 (14.6) 14.6 40.9 0 9.1 8.8 39.6 0 9.5 9.2
Stock-Based Compensation 0 179.2 161.9 167.8 0 0 0 181.1 685.0 174.9 179.6 198.9 705.9 195.8 184.1 135.0 470.3 123.0 112.5 102.1 93.8 196.4 75.9 41.3 34.9 82.1 (16.2) 16.2 58.1 42.1 (10.7) 10.7 11.6 5.7 (6.1) 6.1 10.3 5.4 5.5 7.7
Change in Working Capital 0 0 0 0 699.1 0 0 0 255.3 0 0 0 (315.1) 0 0 0 756.6 (272.5) 272.5 0 452.1 71.3 169.5 (11.8) 153.8 30.3 0 (27.3) 21.3 114.9 0 0 70.3 0 19.5 (1.2) 18.8 0 6.9 1.1
Other Non-Cash Items 994.0 712.5 1,037.2 97.2 84.6 1,170.1 617.9 207.9 (556.2) 467.0 (15.3) 198.1 1,139.9 88.5 161.7 (368.4) (996.8) 904.3 76.5 581.7 120.2 255.5 381.3 (1.1) 28.6 75.7 347.4 651.3 25.8 (64.5) 85.9 96.0 26.6 37.2 11.7 0.0 (38.5) 22.9 (4.1) 13.7
Operating Cash Flow 1,476.4 1,175.4 1,615.7 756.9 1,021.0 1,170.1 616.4 467.5 281.1 599.8 595.5 605.5 319.7 (166.3) (485.5) (723.7) (304.8) 62.7 132.4 318.3 185.4 296.0 298.1 (223.7) (27.8) 89.9 25.5 (17.8) (138.2) (73.9) (188.8) (94.4) (113.2) (89.8) (71.9) (59.3) (42.1) (36.5) (30.6) (5.5)
Investing Activities
Capital Expenditure (1,476.4) (135) (216) 0 (317.9) 90.8 (64) (27) (16.7) (44) (32) (101) (924.2) 0 0 0 (772.2) 242.9 (242.9) 0 (126.7) (219.2) (53.9) (50.8) (43.8) (197.5) 0 (85.8) (63.2) (114.1) 0 0 (67.4) 0 0 0 (17.0) 0 (4.2) (4.2)
Acquisitions 2.8 0 0 0 0 0 0 0 0 0 0 0 (60.7) 0 0 0 (22.8) (17.9) 17.9 0 (1.2) (91.0) (0.7) (90.3) 0 0 0 0 0 0 0 0 (18.1) 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2,505.4) 0 0 0 (117.0) 0 0 (8.2) (100.2) 0 0 (3.9) 0 0 0 0 (23.4) 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 798.2 0 0 0 8.1 0 0 1.6 0 0 0 0 0 0 0 0 (12.1) 0 0 0 0 0 0 0
Other Investing Activities (1,145.7) (487.9) (1,301.5) (1,114.7) (1,761.1) (1,716.1) (645.9) (824.9) (990.4) (844.3) (3,161.9) (572.8) 1,036.4 (402.1) (947.5) (1,130.7) 726.6 (566.9) (920.5) (504.3) (130.1) 101.0 (109.2) 0.6 0.3 142.6 (73.4) (1.6) (2.4) 17.0 (40.0) (21.8) 69.8 (50.1) (11.0) (6.7) 29.8 (13.4) (1.5) (19.4)
Investing Cash Flow (1,153.6) (622.9) (1,517.5) (1,114.7) (1,761.1) (1,716.1) (709.9) (851.9) (1,055.0) (888.3) (3,193.9) (673.8) 51.5 (402.1) (947.5) (1,130.7) (1,775.5) (341.9) (1,145.5) (504.3) (366.9) (209.2) (163.7) (147.1) (143.7) (54.9) (73.4) (91.2) (65.6) (97.1) (40.0) (21.8) (51.1) (50.1) (11.0) (6.7) 12.9 (13.4) (5.7) (23.7)
Financing Activities
Net Debt Issuance 0 (165) (94) (139) (172.6) 245.8 (102) (144) 0 0 0 0 0 0 0 0 0 0 0 0 135.7 0 1,004.3 (29.3) 1,040.4 0 0 0.0 1.3 0 0 0 0 0 272.9 346.9 0 0 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 1,005.6 453.9 148.2 413.4 872.8 312.0 344.6 327.4 183.8 124.5 (1.1) 59.2 (513.7) 474.0 297.6 142.4 386.0 6,835.2 138.8 41.6 (142.9) (2.8) (192.7) 0.6 1.3 2.2 4.4 0 0.2 0.3 545.3 (0.5) (33.5) 71.4 9.8 10.1 (0.0) 31.5 0.1 168.0
Financing Cash Flow 1,005.6 288.9 54.2 274.4 700.2 557.8 242.6 183.4 183.8 124.5 (1.1) 59.2 (513.7) 474.0 297.6 142.4 386.0 6,835.2 138.8 41.6 2,949.1 (2.8) 811.6 (24.8) 1,045.0 2.2 4.4 1,527.9 1.5 0.3 545.3 (0.5) 927.4 69.5 282.7 357.0 (0.0) 31.5 0.1 168.0
Cash Position
Net Change in Cash 1,344.6 792.3 258.5 (65.6) (184.7) 191.1 105.7 (274.3) (514.0) (218.1) (2,671.1) 40.5 (33.4) (219.2) (1,255.1) (1,720.0) (1,687.8) 6,523.1 (859.7) (190.8) 2,826.6 97.0 1,006.4 (447.3) 896.7 28.9 (35.1) 1,420.7 (200.1) (174.3) 299.3 (110.6) 765.9 (69.6) 685.9 294.0 (31.9) (18.0) (36.4) 140.1
Cash at Beginning 5,031.0 4,274.5 4,016.0 4,081.6 4,266.3 4,075.1 3,940.7 4,221.4 4,735.4 4,979.8 7,650.9 7,610.4 7,643.8 7,863.0 9,118.1 10,838.1 12,526.0 6,002.9 6,862.6 7,053.4 4,226.8 4,129.7 3,123.3 3,570.6 2,673.8 2,644.9 2,680.0 1,259.3 1,459.4 1,633.7 1,334.4 1,445.0 581.5 651.1 484.9 190.8 201.9 219.9 256.3 116.2
Cash at End 6,375.7 5,066.8 4,274.5 4,016.0 4,081.6 4,266.3 4,047.5 3,940.7 4,221.4 4,761.7 4,979.8 7,650.9 7,610.4 7,643.8 7,863.0 9,118.1 10,838.1 12,526.0 6,002.9 6,862.6 7,053.4 4,226.8 4,129.7 3,123.3 3,570.6 2,673.8 2,644.9 2,680.0 1,259.3 1,459.4 1,633.7 1,334.4 1,347.4 581.5 688.2 484.9 170.1 201.9 219.9 256.3
Free Cash Flow 0 1,040.4 1,399.7 756.9 703.1 1,260.8 552.4 440.5 264.4 555.8 563.5 504.5 (604.5) (166.3) (485.5) (723.7) (1,077.0) 305.6 (110.4) 318.3 58.7 76.8 244.3 (274.5) (71.6) (107.6) 25.5 (103.6) (201.4) (188.0) (188.8) (94.4) (180.6) (89.8) (71.9) (59.3) (59.1) (36.5) (34.8) (9.7)
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
Income Statement
Revenue 7,097.5 6,851.9 5,986.0 5,259.5 4,841.1 4,950.4 4,328.2 3,806.9 3,734.3 3,616.6 3,310.2 3,095.7 3,041.1 3,451.6 3,156.0 2,942.6 2,899.6 3,222.1 2,688.9 2,280.5 1,763.6 1,566.5 1,212.2 882.0 714.9 777.2 610.1 436.2 351.9 283.2 204.9 183.8 155.0 124.6 94.1 101.5 93.9 88.5 90.5 90.1 76.6
Gross Profit 3,145.6 2,998.4 2,599.4 2,409.8 2,236.2 2,205.5 1,861.1 1,584.8 1,553.8 1,524.8 1,441.3 1,450.9 1,416.7 1,697.3 1,227.7 1,090.2 1,170.0 1,310.7 1,008.7 930.9 645.4 533.7 407.6 200.8 206.8 264.9 203.2 97.4 39.5 (8.0) 5.6 8.6 8.5 23.5 10.8 25.8 27.1 25.3 31.8 34.3 21.7
Operating Income 565.4 537.7 475.9 487.7 456.4 305.8 202.4 82.9 71.1 (56.5) (127.7) 283.8 125.2 342.9 (495.6) (836.7) (498.0) (442.1) (458.6) (334.0) (348.4) (357.3) (305.5) (372.8) (267.7) (230.0) (187.5) (234.5) (239.2) (325.0) (246.2) (219.5) (198.1) (191.1) (160.7) (82.5) (68.0) (83.2) (52.9) (36.8) (32.5)
Net Income 427.9 397.1 372.0 414.2 403.1 237.3 153.3 79.9 (23.7) (109.7) (144.0) 331.0 88.1 426.8 (569.3) (931.2) (579.8) (617.6) (573.0) (433.4) (422.7) (523.6) (420.0) (393.0) (281.5) (283.8) (207.6) (281.1) (690.4) (276.6) (218.3) (250.7) (215.6) (262.7) (132.7) (92.1) (73.1) (72.2) (64.9) (48.4) (37.2)
EPS (Diluted) 0.67 0.63 0.59 0.69 0.63 0.39 0.26 0.14 -0.04 -0.19 -0.26 0.54 0.15 0.70 -1.01 -1.67 -1.04 -1.12 -1.06 -0.83 -0.82 -1.06 -0.86 -0.84 -0.61 -0.62 -0.45 -0.63 -1.86 -0.81 -0.65 -0.75 -0.66 -0.90 -0.40 -0.28 -0.22 -0.42 -0.19 -0.19 -0.14
Balance Sheet
Cash & Equivalents 6,255.4 6,375.7 3,067.8 2,165.8 2,183.0 2,405.2 2,538.7 2,646.5 2,460.8 2,811.1 3,219.9 3,524.4 6,082.7 6,029.9 6,253.4 6,493.2 7,683.7 9,247.8 11,126.2 4,645.4 5,752.6 6,166.9 3,509.0 3,432.8 2,599.7 3,119.0 2,297.2 2,308.1 2,362.5 1,002.8 1,209.2 1,477.1 1,172.4 1,347.4 581.5 651.1 456.8 170.1
Total Assets 30,590.2 29,371.0 26,751.3 25,440.4 23,843.1 22,625.5 21,691.7 19,570.0 19,095.0 18,883.2 18,025.1 17,652.3 17,243.9 17,002.8 17,282.3 17,467.7 18,334.6 18,756.0 18,548.7 11,523.0 10,922.6 10,455.7 6,960.6 6,604.3 5,232.8 5,224.2 4,081.9 4,019.1 3,927.0 2,192.7 2,252.4 2,355.4 1,970.5 1,988.3 1,121.2 1,064.2 812.4 485.8
Total Debt 3,584.4 3,330.4 4,243.8 4,192.2 4,148.1 4,124.1 4,403.6 4,242.6 4,159.0 4,462.4 4,614.6 4,561.5 4,517.8 4,485.2 5,359.7 5,154.7 5,129.5 4,253.5 4,118.2 1,695.5 2,014.0 2,092.8 2,151.4 2,316.7 1,575.8 1,587.7 654.6 649.3 767.5 1,063.7 1,116.4 1,145.8 745.7 729.0 676.4 626.7 357.0 1.9
Stockholders' Equity 12,853.2 12,526.5 10,195.7 9,676.8 8,963.4 8,372.3 7,916.4 6,867.3 6,667.1 6,593.8 6,467.3 6,511.5 6,093.3 5,715.7 4,897.2 5,373.2 6,261.2 7,398.7 7,787.3 3,560.2 3,403.7 3,382.9 741.2 853.8 920.6 1,162.4 1,252.5 1,433.4 1,529.5 (243.1) 25.1 228.6 289.1 469.0 (424.6) (279.0) 12.2 (125.7)
Cash Flow
Operating Cash Flow 1,476.4 1,175.4 1,615.7 756.9 1,021.0 1,170.1 616.4 467.5 281.1 599.8 595.5 605.5 319.7 (166.3) (485.5) (723.7) (304.8) 62.7 132.4 318.3 185.4 296.0 298.1 (223.7) (27.8) 89.9 25.5 (17.8) (138.2) (73.9) (188.8) (94.4) (113.2) (89.8) (71.9) (59.3) (42.1) (36.5) (30.6) (5.5)
Capital Expenditure (1,476.4) (135) (216) 0 (317.9) 90.8 (64) (27) (16.7) (44) (32) (101) (924.2) 0 0 0 (772.2) 242.9 (242.9) 0 (126.7) (219.2) (53.9) (50.8) (43.8) (197.5) 0 (85.8) (63.2) (114.1) 0 0 (67.4) 0 0 0 (17.0) 0 (4.2) (4.2)
Free Cash Flow 0 1,040.4 1,399.7 756.9 703.1 1,260.8 552.4 440.5 264.4 555.8 563.5 504.5 (604.5) (166.3) (485.5) (723.7) (1,077.0) 305.6 (110.4) 318.3 58.7 76.8 244.3 (274.5) (71.6) (107.6) 25.5 (103.6) (201.4) (188.0) (188.8) (94.4) (180.6) (89.8) (71.9) (59.3) (59.1) (36.5) (34.8) (9.7)