SPOT - Spotify Technology S.A.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$614.93
DETAILS
HIGH:
$750.00
LOW:
$420.00
MEDIAN:
$605.00
CONSENSUS:
$614.93
UPSIDE:
18.29%
| 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 | 4,607.5 | 4,531 | 4,272 | 4,193 | 4,190 | 4,242 | 3,988 | 3,807 | 3,636 | 3,671 | 3,357 | 3,177 | 3,042 | 3,166 | 3,036 | 2,864 | 2,661 | 2,689 | 2,501 | 2,331 | 2,147 | 2,168 | 1,975 | 1,889 | 1,848 | 1,855 | 1,731 | 1,667 | 1,511 | 1,495 | 1,352 | 1,273 | 1,139 | 1,149 | 1,032 | 1,007 | 902 | 895.4 | 742.8 | 714 | 619 |
| Cost of Revenue | 3,093.0 | 3,032 | 2,921 | 2,873 | 2,864 | 2,874 | 2,748 | 2,695 | 2,632 | 2,691 | 2,472 | 2,411 | 2,276 | 2,365 | 2,286 | 2,160 | 1,990 | 1,977 | 1,833 | 1,668 | 1,599 | 1,593 | 1,486 | 1,410 | 1,376 | 1,381 | 1,290 | 1,233 | 1,138 | 1,096 | 1,010 | 944 | 856 | 867 | 802 | 775 | 797 | 729.1 | 603.6 | 610 | 588 |
| Gross Profit | 1,514.5 | 1,499 | 1,351 | 1,320 | 1,326 | 1,368 | 1,240 | 1,112 | 1,004 | 980 | 885 | 766 | 766 | 801 | 750 | 704 | 671 | 712 | 668 | 663 | 548 | 575 | 489 | 479 | 472 | 474 | 441 | 434 | 373 | 399 | 342 | 329 | 283 | 282 | 230 | 232 | 105 | 166.4 | 139.2 | 104 | 31 |
| Operating Expenses | |||||||||||||||||||||||||||||||||||||||||
| R&D Expenses | 331.4 | 290 | 309 | 415 | 379 | 376 | 342 | 379 | 389 | 468 | 369 | 453 | 435 | 415 | 386 | 336 | 250 | 253 | 208 | 255 | 196 | 232 | 176 | 267 | 162 | 173 | 136 | 151 | 155 | 100 | 135 | 143 | 115 | 123 | 98 | 95 | 80 | 63.7 | 50.7 | 52 | 42 |
| SG&A Expenses | 449 | 508 | 460 | 499 | 438 | 515 | 444 | 467 | 447 | 587 | 484 | 560 | 487 | 617 | 592 | 562 | 427 | 466 | 385 | 396 | 338 | 412 | 353 | 379 | 327 | 378 | 251 | 286 | 265 | 205 | 213 | 276 | 209 | 246 | 205 | 216 | 164 | 182.8 | 127.3 | 144 | 95 |
| Other Expenses | 7.4 | 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 |
| Operating Expenses | 787.7 | 798 | 769 | 914 | 817 | 891 | 786 | 846 | 836 | 1,055 | 853 | 1,013 | 922 | 1,032 | 978 | 898 | 677 | 719 | 593 | 651 | 534 | 644 | 529 | 646 | 489 | 551 | 387 | 437 | 420 | 305 | 348 | 419 | 324 | 369 | 303 | 311 | 244 | 246.5 | 178.0 | 196 | 137 |
| Operating Income | |||||||||||||||||||||||||||||||||||||||||
| Operating Income | 726.8 | 701 | 582 | 406 | 509 | 477 | 454 | 266 | 168 | (75) | 32 | (247) | (156) | (231) | (228) | (194) | (6) | (7) | 75 | 12 | 14 | (69) | (40) | (167) | (17) | (77) | 54 | (3) | (47) | 94 | (6) | (90) | (41) | (87) | (73) | (79) | (139) | (80.1) | (38.8) | (92) | (106) |
| Interest Expense | 8.1 | 7 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 13.8 | 27 | 11 | 10 | 10 | 21 | 10 | 10 | 31.7 | 114 | 10 | 10 | 11 | 9.8 | 10 | 10 | 9 | 2 | 85 | 0 | 0 | 545 | 1 | 1 | 1 | 119.1 | 63.6 | (94) | (31) |
| Interest Income | 54.9 | 58 | 59 | 61 | 67 | 63 | 61 | 53 | 46 | 41 | 34 | 30 | 25.7 | 22 | 15 | 7 | 3 | 20 | 3 | 0 | 3.1 | 4 | 3 | 4 | 7 | 6.8 | 226 | 7 | 9 | 8 | 10 | 5.1 | 5 | 36 | 5 | 4 | 4 | 121.2 | 3.0 | 0 | 0 |
| Profitability | |||||||||||||||||||||||||||||||||||||||||
| EBITDA | 753.2 | 1,053 | 859 | 82 | 363 | 538 | 437 | 309 | 214 | (77) | 118 | (187) | (152) | (214) | (89) | (40) | 202 | 46 | 205 | 49 | 127 | (36) | (78) | (417) | 78 | (336) | 302 | (29) | (139) | 491 | 10 | (386) | (169) | (38) | (262) | (174) | (157) | 42.1 | (53.7) | (280) | (168) |
| EBIT | 726.8 | 1,028 | 835 | 56 | 336 | 508 | 407 | 279 | 183 | (111) | 82 | (231) | (196) | (264) | (133) | (80) | 165 | 13 | 172 | 18 | 97 | (65) | (106) | (445) | 52 | (360) | 280 | (49) | (160) | 483 | 3 | (392) | (180) | (51) | (277) | (186) | (171) | 31.8 | (62.6) | (280) | (168) |
| Income Before Tax | 952.4 | 1,021 | 827 | 48 | 328 | 499 | 398 | 270 | 174 | (131) | 73 | (241) | (206) | (291) | (144) | (90) | 155 | (8) | 162 | 8 | 87 | (179) | (116) | (455) | 41 | (173) | 270 | (59) | (169) | 481 | (82) | (392) | (180) | (596) | (278) | (187) | (172) | (87.3) | (126.3) | (186) | (137) |
| Income Tax Expense | 219.6 | (153) | (72) | 134 | 103 | 132 | 98 | (4) | (23) | (61) | 8 | 61 | 19 | (21) | 22 | 35 | 24 | 31 | 160 | 28 | 64 | (54) | (15) | (99) | 40 | 36 | 29 | 17 | (27) | 39 | (125) | 2 | (11) | 0 | 0 | 1 | 1 | 0 | 3.0 | (1) | 2 |
| Net Income | 732.9 | 1,174 | 899 | (86) | 225 | 367 | 300 | 274 | 197 | (70) | 65 | (302) | (225) | (270) | (166) | (125) | 131 | (39) | 2 | (20) | 23 | (125) | (101) | (356) | 1 | (209) | 241 | (76) | (142) | 442 | 43 | (394) | (169) | (596) | (278) | (188) | (173) | (87.3) | (129.3) | (185) | (139) |
| Per Share Data | |||||||||||||||||||||||||||||||||||||||||
| EPS (Basic) | 3.56 | 5.71 | 4.36 | -0.42 | 1.10 | 1.81 | 1.49 | 1.37 | 0.99 | -0.33 | 0.31 | -1.42 | -1.07 | -1.32 | -0.88 | -0.62 | 0.61 | -0.18 | 0.01 | -0.08 | 0.10 | -0.54 | -0.45 | -1.70 | 0.01 | -1.00 | 1.22 | -0.37 | -0.70 | 2.04 | 0.21 | -1.89 | -0.82 | -2.86 | -1.41 | -0.98 | -0.96 | -0.47 | -0.71 | -1.25 | -0.95 |
| EPS (Diluted) | 3.50 | 4.39 | 3.28 | -0.42 | 1.07 | 1.76 | 1.45 | 1.33 | 0.97 | -0.33 | 0.31 | -1.42 | -1.07 | -1.32 | -1.01 | -0.81 | 0.19 | -0.19 | -0.35 | -0.16 | -0.21 | -0.54 | -0.49 | -1.70 | -0.18 | -1.00 | 0.33 | -0.37 | -0.70 | 0.30 | 0.20 | -1.89 | -0.82 | -2.86 | -1.41 | -0.98 | -0.96 | -0.47 | -0.71 | -1.25 | -0.95 |
| Shares Outstanding | 205.7 | 205.8 | 206.0 | 205.4 | 204.5 | 202.9 | 201.6 | 200.0 | 198.0 | 196.0 | 194.9 | 194.4 | 193.6 | 193.3 | 193.1 | 192.9 | 192.5 | 192.0 | 191.5 | 191.2 | 190.6 | 189.9 | 188.8 | 186.6 | 185.0 | 182.9 | 179.9 | 180.4 | 180.6 | 181.1 | 180.5 | 179.1 | 167.8 | 178.1 | 167.8 | 167.8 | 167.8 | 149.8 | 149.7 | 147.7 | 146.3 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||||||||||||||||||||||||
| Cash & Cash Equivalents | 5,260.5 | 5,255.8 | 5,473.5 | 5,171.3 | 5,008.8 | 4,780.9 | 4,684.1 | 4,048.6 | 3,468.0 | 3,125.8 | 2,628.6 | 2,550.8 | 2,440.7 | 2,462.5 | 2,859.7 | 2,783.7 | 2,734.7 | 2,752.1 | 2,507.4 | 2,438.7 | 2,439.2 | 1,149.6 | 1,180.1 | 1,145.6 | 959.0 | 1,052.9 | 873.9 | 911.0 | 965.4 | 584.5 | 1,090.4 | 814.5 | 731.3 | 489.4 |
| Short-Term Investments | 3,494.6 | 4,207.2 | 3,617.6 | 3,189.4 | 2,888.1 | 2,667.0 | 1,390.8 | 1,342.2 | 1,226.0 | 1,104.2 | 1,101.5 | 866.3 | 994.1 | 859.9 | 817.5 | 781.4 | 820.1 | 758.2 | 657.8 | 547.7 | 643.3 | 595.3 | 526.1 | 545.8 | 739.2 | 684.2 | 637.7 | 587.3 | 659.6 | 1,223.0 | 666.2 | 889.9 | 841.0 | 1,058.8 |
| Net Receivables | 777.8 | 917.6 | 854.7 | 820.6 | 793.4 | 799.0 | 777.4 | 786.9 | 801.9 | 881.3 | 758.1 | 640.2 | 559.5 | 689.3 | 652.0 | 616.5 | 563.8 | 627.9 | 640.8 | 561.7 | 444.5 | 467.4 | 587.0 | 453.0 | 369.1 | 401.4 | 386.6 | 431.9 | 392.8 | 402.3 | 359.5 | 326.8 | 322.2 | 369.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 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 Current Assets | 136.1 | 111.0 | 143.5 | 136.3 | 145.7 | 132.0 | 144.9 | 157.8 | 175.9 | 168.6 | 225.9 | 273.1 | 294.7 | 304.5 | 344.0 | 336.7 | 271.4 | 246.7 | 223.6 | 200.9 | 185.8 | 150.8 | 141.8 | 114.8 | 93.8 | 67.2 | 72.7 | 66.1 | 52.0 | 38.0 | 34.9 | 38.2 | 38.9 | 29.8 |
| Total Current Assets | 9,669.1 | 10,491.5 | 10,089.2 | 9,317.6 | 8,836.1 | 8,378.9 | 6,997.2 | 6,335.5 | 5,671.9 | 5,280.0 | 4,714.0 | 4,330.4 | 4,288.9 | 4,316.2 | 4,673.2 | 4,518.3 | 4,390.0 | 4,385.0 | 4,029.6 | 3,748.9 | 3,712.8 | 2,363.1 | 2,435.0 | 2,259.2 | 2,161.0 | 2,205.7 | 1,970.9 | 1,996.4 | 2,069.7 | 2,247.9 | 2,150.9 | 2,069.3 | 1,933.5 | 1,947.2 |
| Non-Current Assets | ||||||||||||||||||||||||||||||||||
| Property, Plant & Equipment | 409.4 | 421.8 | 417.3 | 417.8 | 400.2 | 414.0 | 429.6 | 464.4 | 500.5 | 549.1 | 620.5 | 624.2 | 743.3 | 758.7 | 837.5 | 817.3 | 816.1 | 811.4 | 810.5 | 791.6 | 788.1 | 756.1 | 756.8 | 761.4 | 788.6 | 771.2 | 753.3 | 642.4 | 664.6 | 197.2 | 134.4 | 83.5 | 67.8 | 74.9 |
| Goodwill | 1,100.1 | 1,082.5 | 1,081.5 | 1,076.1 | 1,153.7 | 1,201.0 | 1,127.1 | 1,165.4 | 1,164.7 | 1,141.3 | 1,184.8 | 1,148.4 | 1,153.9 | 1,158.4 | 1,264.9 | 1,110.1 | 982.9 | 896.7 | 867.4 | 850.5 | 814.1 | 735.1 | 594.0 | 615.7 | 632.3 | 472.6 | 487.2 | 465.0 | 423.7 | 146.1 | 144.4 | 144.8 | 132.7 | 138.5 |
| Intangible Assets | 41.0 | 41.0 | 33.1 | 37.1 | 42.9 | 48.0 | 58.0 | 67.9 | 76.4 | 84.3 | 98.4 | 105.0 | 114.9 | 126.0 | 153.5 | 125.9 | 109.5 | 89.3 | 90.8 | 94.9 | 97.9 | 96.9 | 81.9 | 85.8 | 87.7 | 57.3 | 57.8 | 55.1 | 54.0 | 28.0 | 27.9 | 31.2 | 27.9 | 27.7 |
| Long-Term Investments | 1,309.4 | 2,249.0 | 3,009.6 | 2,534.1 | 2,076.8 | 1,761.0 | 1,714.6 | 2,029.3 | 1,642.1 | 1,270.8 | 957.9 | 1,069.3 | 1,132.9 | 1,128.6 | 694.1 | 779.4 | 742.7 | 918.7 | 1,136.9 | 1,944.9 | 2,569.1 | 2,274.2 | 1,860.9 | 1,774.2 | 1,378.5 | 1,480.0 | 1,726.8 | 1,943.3 | 2,354.6 | 1,647.4 | 1,636.1 | 1,027.6 | 1,012.6 | 977.7 |
| Other Non-Current Assets | 16.0 | 61.0 | 18.1 | 15.0 | 16.0 | 16.0 | 24.0 | 21.0 | 23.1 | 24.1 | 24.1 | 22.0 | 76.9 | 77.4 | 24.1 | 24.0 | 25.1 | 77.2 | 27.9 | 29.0 | 32.0 | 77.9 | 13.0 | 13.0 | 14.1 | 68.2 | 13.0 | 12.0 | 13.0 | 65.1 | 11.0 | 12.1 | 10.0 | 12.3 |
| Total Non-Current Assets | 3,472.6 | 4,517.1 | 4,646.8 | 4,174.3 | 3,825.2 | 3,625.9 | 3,547.0 | 3,796.9 | 3,447.9 | 3,097.7 | 2,908.8 | 2,984.0 | 3,232.9 | 3,257.0 | 2,982.1 | 2,863.6 | 2,684.4 | 2,806.3 | 2,946.6 | 3,727.9 | 4,315.1 | 3,955.1 | 3,319.6 | 3,263.1 | 2,907.2 | 2,858.2 | 3,047.0 | 3,127.9 | 3,519.8 | 2,091.7 | 1,964.7 | 1,309.2 | 1,261.0 | 1,240.3 |
| Total Assets | 13,141.7 | 15,008.6 | 14,736.1 | 13,491.9 | 12,661.3 | 12,004.8 | 10,544.2 | 10,132.4 | 9,119.8 | 8,377.7 | 7,622.8 | 7,314.4 | 7,521.9 | 7,573.1 | 7,655.3 | 7,381.9 | 7,074.4 | 7,191.3 | 6,976.1 | 7,476.9 | 8,027.9 | 6,318.1 | 5,754.6 | 5,522.3 | 5,068.2 | 5,063.9 | 5,017.9 | 5,124.2 | 5,589.6 | 4,339.6 | 4,115.6 | 3,378.5 | 3,194.5 | 3,187.6 |
| Current Liabilities | ||||||||||||||||||||||||||||||||||
| Account Payables | 821.9 | 1,193.5 | 802 | 804.6 | 691.6 | 933.0 | 737.4 | 749.0 | 718.5 | 664.5 | 657.7 | 623.2 | 591.4 | 583.2 | 697.1 | 577.5 | 451.3 | 535.6 | 527.0 | 484.7 | 439.5 | 433.5 | 423.3 | 364.2 | 380.2 | 372.7 | 350.7 | 288.6 | 254.8 | 295.2 | 261.9 | 258.4 | 254.4 | 248.3 |
| Short-Term Debt | 62.1 | 1,457.4 | 1,741 | 1,932.9 | 1,650.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.1 | 31.0 | 0 | 0 | 0 | 0 | 1.0 |
| Deferred Revenue | 750.8 | 710.7 | 692 | 666.3 | 673.6 | 683.0 | 679.4 | 656.1 | 637.1 | 624.4 | 601.4 | 536.2 | 523.5 | 515.7 | 523.6 | 488.6 | 471.4 | 459.4 | 439.2 | 438.8 | 423.5 | 379.5 | 362.4 | 348.3 | 319.7 | 315.4 | 306.9 | 290.6 | 272.8 | 258.2 | 239.0 | 235.3 | 222.5 | 221.6 |
| Other Current Liabilities | 2,638.7 | 2,648.9 | 97 | 2,757.5 | 2,777.4 | 2,682.0 | 2,549.9 | 2,496.6 | 2,472.2 | 2,530.6 | 2,303.3 | 2,224.7 | 2,196.9 | 2,258.2 | 2,211.7 | 2,155.2 | 2,115.6 | 2,125.3 | 2,002.3 | 1,941.9 | 1,988.7 | 2,009.5 | 1,803.0 | 1,974.8 | 1,597.3 | 1,661.0 | 1,730.8 | 1,974.3 | 1,900.8 | 1,431.2 | 1,902.0 | 1,757.6 | 1,428.6 | 1,393.2 |
| Total Current Liabilities | 4,692.9 | 6,082.4 | 6,259.0 | 6,324.6 | 5,952.9 | 4,449.9 | 4,102.6 | 4,053.5 | 3,985.6 | 4,105.5 | 3,716.0 | 3,547.2 | 3,455.7 | 3,487.0 | 3,568.9 | 3,331.2 | 3,138.7 | 3,235.6 | 3,069.3 | 2,967.4 | 2,932.7 | 2,896.4 | 2,659.6 | 2,753.2 | 2,358.7 | 2,411.3 | 2,447.2 | 2,638.8 | 2,505.5 | 2,148.8 | 2,440.7 | 2,292.5 | 1,943.4 | 1,908.2 |
| Non-Current Liabilities | ||||||||||||||||||||||||||||||||||
| Long-Term Debt | 0 | 432.8 | 0 | 0 | 0 | 1,539.0 | 1,338.9 | 1,321.2 | 1,276.3 | 1,207.6 | 1,213.9 | 1,167.4 | 1,154.9 | 1,118.7 | 1,200.7 | 1,126.1 | 1,151.8 | 1,205.6 | 1,172.8 | 1,198.3 | 1,227.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,019.6 | 968.5 |
| Deferred Tax Liabilities | 11.0 | 162.9 | 223 | 66.1 | 21.0 | 21.0 | 20.0 | 19.0 | 17.1 | 8.0 | 6.0 | 6.0 | 6.0 | 5.0 | 2.0 | 1.0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.0 | 1.0 | 2.0 | 2.0 | 1.0 | 2.0 | 61.0 | 2.0 | 2.0 | 2.0 | 3.0 | 3.1 |
| Other Non-Current Liabilities | 5.0 | (430.8) | 4 | 7.0 | 6.0 | 8.0 | 8.0 | 14.0 | 20.1 | 29.1 | 17.1 | 17.0 | 20.0 | 30.7 | 34.1 | 33.0 | 36.2 | 44.1 | 39.9 | 38.0 | 41.0 | 43.9 | 40.9 | 38.9 | 48.4 | 21.8 | 18.9 | 16.0 | 8.0 | 8.0 | 9.0 | 9.0 | 68.8 | 63.6 |
| Total Non-Current Liabilities | 430.4 | 597.7 | 673.1 | 527.1 | 474.0 | 2,030.0 | 1,812.5 | 1,825.5 | 1,808.9 | 1,739.6 | 1,759.1 | 1,712.6 | 1,726.4 | 1,704.8 | 1,846.6 | 1,751.6 | 1,777.9 | 1,830.4 | 1,793.7 | 1,812.0 | 1,854.9 | 620.2 | 633.0 | 650.6 | 679.7 | 638.7 | 635.7 | 536.2 | 623.6 | 95.1 | 87.6 | 81.4 | 1,090.4 | 1,035.2 |
| Total Liabilities | 5,123.3 | 6,680.2 | 6,932.1 | 6,851.7 | 6,427.0 | 6,479.9 | 5,915.1 | 5,879.1 | 5,794.5 | 5,845.1 | 5,475.1 | 5,259.7 | 5,182.1 | 5,191.9 | 5,415.5 | 5,082.8 | 4,916.6 | 5,066.0 | 4,863.0 | 4,779.4 | 4,787.6 | 3,516.6 | 3,292.6 | 3,403.8 | 3,038.3 | 3,050.0 | 3,082.9 | 3,175.0 | 3,129.1 | 2,243.9 | 2,528.3 | 2,374.0 | 3,033.9 | 2,943.4 |
| Stockholders' Equity | ||||||||||||||||||||||||||||||||||
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | (124.1) | (831.6) | (2,012.4) | (2,910.8) | (2,813.3) | (3,043.9) | (3,408.2) | (3,706.0) | (4,004.7) | (4,197.9) | (4,128.7) | (4,178.4) | (3,871.3) | (3,617.0) | (3,389.3) | (3,211.3) | (3,104.5) | (3,229.5) | (3,279.0) | (3,285.2) | (3,263.3) | (3,285.9) | (3,159.8) | (3,057.5) | (2,730.8) | (2,678.3) | (2,491.0) | (2,747.0) | (2,663.4) | (2,507.1) | (2,934.6) | (3,006.4) | (2,589.9) | (2,489.9) |
| Accumulated Other Comprehensive Income | 2,583.7 | 0 | 3,665.7 | 3,380.7 | 2,993.9 | 2,707.0 | 2,478.9 | 2,591.5 | 2,169.7 | 1,818.9 | 1,588.4 | 1,594.5 | 1,613.5 | 1,508.5 | 1,088.3 | 987.2 | 712.6 | 855.5 | 920.3 | 1,500.2 | 2,049.7 | 1,684.9 | 1,264.9 | 1,184.5 | 828.9 | 913.5 | 1,048.2 | 1,199.6 | 1,490.1 | 875.7 | 754.8 | 257.4 | 225.5 | 181.6 |
| Total Stockholders' Equity | 8,018.4 | 8,325.5 | 7,803.9 | 6,640.2 | 6,234.4 | 5,524.9 | 4,629.1 | 4,253.3 | 3,325.3 | 2,532.6 | 2,147.7 | 2,054.7 | 2,339.8 | 2,381.2 | 2,239.8 | 2,299.1 | 2,157.8 | 2,125.3 | 2,113.1 | 2,697.5 | 3,240.3 | 2,801.5 | 2,462.0 | 2,118.5 | 2,029.9 | 2,013.9 | 1,935.0 | 1,949.3 | 2,460.5 | 2,095.7 | 1,587.3 | 1,004.5 | 160.6 | 244.2 |
| Total Liabilities & Equity | 13,141.7 | 15,008.6 | 14,736.1 | 13,491.9 | 12,661.3 | 12,004.8 | 10,544.2 | 10,132.4 | 9,119.8 | 8,377.7 | 7,622.8 | 7,314.4 | 7,521.9 | 7,573.1 | 7,655.3 | 7,381.9 | 7,074.4 | 7,191.3 | 6,976.1 | 7,476.9 | 8,027.9 | 6,318.1 | 5,754.6 | 5,522.3 | 5,068.2 | 5,063.9 | 5,017.9 | 5,124.2 | 5,589.6 | 4,339.6 | 4,115.6 | 3,378.5 | 3,194.5 | 3,187.6 |
| Debt Metrics | ||||||||||||||||||||||||||||||||||
| Total Debt | 476.5 | 2,323.0 | 2,253.2 | 2,386.8 | 2,097.7 | 2,001.0 | 1,784.5 | 1,792.6 | 1,771.7 | 1,702.4 | 1,736.0 | 1,689.5 | 1,700.4 | 1,669.1 | 1,810.5 | 1,717.6 | 1,741.7 | 1,786.3 | 1,753.8 | 1,774.0 | 1,813.9 | 576.3 | 591.0 | 610.7 | 629.2 | 614.9 | 615.8 | 548.2 | 585.6 | 0 | 0 | 0 | 1,019.6 | 969.5 |
| Net Debt | (4,784.0) | (2,932.8) | (3,210) | (2,784.6) | (2,911.1) | (2,780.0) | (2,899.6) | (2,256.0) | (1,696.3) | (1,423.4) | (892.6) | (861.3) | (740.3) | (793.4) | (1,049.2) | (1,066.1) | (993.0) | (965.9) | (753.6) | (664.6) | (625.3) | (573.3) | (589.0) | (534.9) | (329.7) | (438.0) | (258.1) | (362.8) | (379.8) | (584.5) | (1,090.4) | (814.5) | 288.3 | 480.1 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||||||||||
| Net Income | 732.9 | 1,174 | 899 | (86) | 225 | 367 | 300 | 274 | 197 | (70) | 65 | (302) | (225) | (270) | (166) | (125) | 131 | (39) | 2 | (20) | 23 | (125) | (101) | (356) | 1 | (209) | 241 | (76) | (142) | 442 | 43 | (394) | (169) | (596) | (278) | (188) | (173) |
| Depreciation & Amortization | 26.4 | 25 | 24 | 26 | 27 | 30 | 30 | 30 | 31 | 34 | 36 | 44 | 44 | 50 | 44 | 40 | 37 | 33 | 33 | 31 | 30 | 29 | 28 | 28 | 26 | 24 | 22 | 20 | 21 | 8 | 7 | 6 | 11 | 13 | 15 | 12 | 14 |
| Stock-Based Compensation | 0 | 57 | 75 | 73 | 42 | 54 | 63 | 81 | 69 | 34 | 85 | 97 | 105 | 100 | 108 | 105 | 68 | 50 | 57 | 68 | 48 | 43 | 46 | 50 | 37 | 28 | 31 | 37 | 26 | 23 | 24 | 23 | 18 | 14 | 18 | 19 | 14 |
| Change in Working Capital | 29.5 | 24 | 101 | 202 | (79) | 252 | 115 | 93 | (84) | 353 | 47 | (4) | 68 | 19 | 119 | 94 | (41) | 54 | (26) | (48) | (16) | 111 | 106 | 146 | (46) | 224 | (28) | 52 | 203 | 8 | 59 | 93 | 91 | 153 | (43) | 111 | 199 |
| Other Non-Cash Items | 61.0 | (271) | (198) | 360 | 221 | 48 | 109 | 18 | 21 | 107 | (30) | 117 | 48 | 52 | (87) | (110) | (182) | (10) | (103) | (5) | (84) | 103 | 58 | 270 | (67) | 100 | (224) | 40 | 128 | (370) | 72 | 300 | 144 | 509 | 203 | 117 | 38 |
| Operating Cash Flow | 849.7 | 856 | 829 | 709 | 539 | 883 | 715 | 492 | 211 | 397 | 211 | 13 | 59 | (70) | 40 | 39 | 37 | 119 | 123 | 54 | 65 | 107 | 122 | 39 | (9) | 203 | 71 | 90 | 209 | 150 | 80 | 30 | 84 | 95 | (81) | 72 | 93 |
| Investing Activities | |||||||||||||||||||||||||||||||||||||
| Capital Expenditure | (5.1) | (22) | (23) | (10) | (6) | (6) | (4) | (2) | (5) | (1) | (1) | (2) | (2) | (5) | (5) | (5) | (10) | (16) | (25) | (20) | (24) | (35) | (17) | (14) | (12) | (32) | (26) | (40) | (37) | (65) | (49) | (5) | (8) | (24) | (9) | (5) | (3) |
| Acquisitions | 0 | (9) | 0 | (2) | (7) | 0 | 0 | (3) | (7) | (0.1) | 0.1 | (0.0) | (7) | 1.2 | (107) | (114) | (85) | (14) | 2.6 | (42) | (59) | (194) | 0 | 0 | (137) | 0 | (7) | (36) | (288) | 0 | 0 | (9) | (1) | (11) | 0 | 0 | (23) |
| Purchases of Investments | (6,850.8) | (5,916) | (4,783) | (4,643) | (3,929) | (3,553) | (1,439) | (1,285) | (998) | (809) | (406) | (138) | (237) | (168) | (78) | (78) | (133) | (112) | (161) | (109) | (115) | (406) | (305) | (145) | (498) | (231) | (268) | (298) | (104) | (300) | (54) | (444) | (271) | (482) | (237) | (310) | (357) |
| Sales/Maturities of Investments | 7,608.1 | 5,318 | 4,369 | 4,228 | 3,630 | 2,361 | 1,364 | 1,179 | 900 | 802 | 201 | 265 | 111 | 71 | 78 | 141 | 78 | 232 | 63 | 134 | 90 | 505 | 197 | 242 | 477 | 165 | 245 | 370 | 383 | 66 | 279 | 451 | 430 | 237 | 257 | 300 | 286 |
| Other Investing Activities | (8.1) | 0 | (1) | 23 | (2) | 0 | (3) | 19 | (4) | 3.1 | 2.9 | (12.0) | 13 | (0.2) | 3 | (1) | (6) | (3) | (0.6) | (2) | (6) | (2) | (9) | (5) | (14) | (7) | (1) | (3) | (3) | (1) | (20) | (10) | (11) | 1 | 0 | (27) | (28) |
| Investing Cash Flow | 744.0 | (629) | (438) | (404) | (314) | (1,198) | (82) | (92) | (114) | (5) | (203) | 113 | (122) | (101) | (109) | (57) | (156) | 87 | (121) | (39) | (114) | (132) | (134) | 78 | (184) | (105) | (57) | (7) | (49) | (300) | 156 | (17) | 139 | (279) | 11 | (42) | (125) |
| Financing Activities | |||||||||||||||||||||||||||||||||||||
| Net Debt Issuance | (20) | (14) | (15) | (22) | (22) | (12) | (18) | (24) | (15) | (11) | (13) | (27) | (15) | (12) | (11) | (10) | (10) | (10) | (9) | (8) | 1,215 | (8) | (6) | (6) | 3 | (4) | (4) | (4) | (5) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) |
| Stock Repurchased | (311.0) | (381) | 0 | 0 | 0 | (43) | (35) | (32) | (25) | (19) | (20) | (16) | (13) | (9) | (10) | (10) | (13) | (79) | (36) | (12) | (16) | (11) | 8 | (5) | 0 | (30) | (125) | (157) | (126) | (72) | 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 |
| Other Financing Activities | (1,371.5) | (60) | (124) | (59) | (56) | 299 | 152 | 240 | 242 | 224 | 32 | 35 | 77 | 0 | 0 | 0 | 45 | 64 | 64 | 26 | 51 | 52 | 83 | 104 | 74 | 143 | 56 | 20 | 33 | 17 | 49 | 55 | 43 | 7 | 9 | 2 | 17 |
| Financing Cash Flow | (1,637.5) | (418) | (100) | 11 | 126 | 244 | 99 | 184 | 202 | 194 | (1) | (8) | 49 | (21) | (21) | (20) | 22 | (25) | 19 | 6 | 1,250 | 33 | 85 | 90 | 77 | 109 | (73) | (141) | (98) | (55) | 49 | 55 | 43 | 7 | 9 | 2 | 16 |
| Cash Position | |||||||||||||||||||||||||||||||||||||
| Net Change in Cash | (104.6) | (198) | 295 | 142 | 238 | 93 | 634 | 603 | 337 | 499 | 65 | 107 | (40) | (368) | 65 | 65 | (23) | 232 | 72 | (2) | 1,291 | (31) | 34 | 197 | (114) | 188 | (32) | (57) | 75 | (204) | 285 | 77 | 256 | (191) | (64) | (3) | (20) |
| Cash at Beginning | 5,365.1 | 5,456 | 5,161 | 5,019 | 4,781 | 4,688 | 4,054 | 3,451 | 3,114 | 2,615 | 2,550 | 2,443 | 2,483 | 2,851 | 2,786 | 2,721 | 2,744 | 2,512 | 2,440 | 2,442 | 1,151 | 1,182 | 1,148 | 951 | 1,065 | 877 | 909 | 966 | 891 | 1,095 | 810 | 733 | 477 | 668 | 732 | 735 | 755 |
| Cash at End | 5,260.5 | 5,258 | 5,456 | 5,161 | 5,019 | 4,781 | 4,688 | 4,054 | 3,451 | 3,114 | 2,615 | 2,550 | 2,443 | 2,483 | 2,851 | 2,786 | 2,721 | 2,744 | 2,512 | 2,440 | 2,442 | 1,151 | 1,182 | 1,148 | 951 | 1,065 | 877 | 909 | 966 | 891 | 1,095 | 810 | 733 | 477 | 668 | 732 | 735 |
| Free Cash Flow | 844.7 | 834 | 806 | 699 | 533 | 877 | 711 | 490 | 206 | 396 | 210 | 11 | 57 | (75) | 35 | 34 | 27 | 103 | 98 | 34 | 41 | 72 | 105 | 25 | (21) | 171 | 45 | 50 | 172 | 85 | 31 | 25 | 76 | 71 | (90) | 67 | 90 |
| 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 | 4,607.5 | 4,531 | 4,272 | 4,193 | 4,190 | 4,242 | 3,988 | 3,807 | 3,636 | 3,671 | 3,357 | 3,177 | 3,042 | 3,166 | 3,036 | 2,864 | 2,661 | 2,689 | 2,501 | 2,331 | 2,147 | 2,168 | 1,975 | 1,889 | 1,848 | 1,855 | 1,731 | 1,667 | 1,511 | 1,495 | 1,352 | 1,273 | 1,139 | 1,149 | 1,032 | 1,007 | 902 | 895.4 | 742.8 | 714 | 619 |
| Gross Profit | 1,514.5 | 1,499 | 1,351 | 1,320 | 1,326 | 1,368 | 1,240 | 1,112 | 1,004 | 980 | 885 | 766 | 766 | 801 | 750 | 704 | 671 | 712 | 668 | 663 | 548 | 575 | 489 | 479 | 472 | 474 | 441 | 434 | 373 | 399 | 342 | 329 | 283 | 282 | 230 | 232 | 105 | 166.4 | 139.2 | 104 | 31 |
| Operating Income | 726.8 | 701 | 582 | 406 | 509 | 477 | 454 | 266 | 168 | (75) | 32 | (247) | (156) | (231) | (228) | (194) | (6) | (7) | 75 | 12 | 14 | (69) | (40) | (167) | (17) | (77) | 54 | (3) | (47) | 94 | (6) | (90) | (41) | (87) | (73) | (79) | (139) | (80.1) | (38.8) | (92) | (106) |
| Net Income | 732.9 | 1,174 | 899 | (86) | 225 | 367 | 300 | 274 | 197 | (70) | 65 | (302) | (225) | (270) | (166) | (125) | 131 | (39) | 2 | (20) | 23 | (125) | (101) | (356) | 1 | (209) | 241 | (76) | (142) | 442 | 43 | (394) | (169) | (596) | (278) | (188) | (173) | (87.3) | (129.3) | (185) | (139) |
| EPS (Diluted) | 3.50 | 4.39 | 3.28 | -0.42 | 1.07 | 1.76 | 1.45 | 1.33 | 0.97 | -0.33 | 0.31 | -1.42 | -1.07 | -1.32 | -1.01 | -0.81 | 0.19 | -0.19 | -0.35 | -0.16 | -0.21 | -0.54 | -0.49 | -1.70 | -0.18 | -1.00 | 0.33 | -0.37 | -0.70 | 0.30 | 0.20 | -1.89 | -0.82 | -2.86 | -1.41 | -0.98 | -0.96 | -0.47 | -0.71 | -1.25 | -0.95 |
| Balance Sheet | |||||||||||||||||||||||||||||||||||||||||
| Cash & Equivalents | 5,260.5 | 5,255.8 | 5,473.5 | 5,171.3 | 5,008.8 | 4,780.9 | 4,684.1 | 4,048.6 | 3,468.0 | 3,125.8 | 2,628.6 | 2,550.8 | 2,440.7 | 2,462.5 | 2,859.7 | 2,783.7 | 2,734.7 | 2,752.1 | 2,507.4 | 2,438.7 | 2,439.2 | 1,149.6 | 1,180.1 | 1,145.6 | 959.0 | 1,052.9 | 873.9 | 911.0 | 965.4 | 584.5 | 1,090.4 | 814.5 | 731.3 | 489.4 | |||||||
| Total Assets | 13,141.7 | 15,008.6 | 14,736.1 | 13,491.9 | 12,661.3 | 12,004.8 | 10,544.2 | 10,132.4 | 9,119.8 | 8,377.7 | 7,622.8 | 7,314.4 | 7,521.9 | 7,573.1 | 7,655.3 | 7,381.9 | 7,074.4 | 7,191.3 | 6,976.1 | 7,476.9 | 8,027.9 | 6,318.1 | 5,754.6 | 5,522.3 | 5,068.2 | 5,063.9 | 5,017.9 | 5,124.2 | 5,589.6 | 4,339.6 | 4,115.6 | 3,378.5 | 3,194.5 | 3,187.6 | |||||||
| Total Debt | 476.5 | 2,323.0 | 2,253.2 | 2,386.8 | 2,097.7 | 2,001.0 | 1,784.5 | 1,792.6 | 1,771.7 | 1,702.4 | 1,736.0 | 1,689.5 | 1,700.4 | 1,669.1 | 1,810.5 | 1,717.6 | 1,741.7 | 1,786.3 | 1,753.8 | 1,774.0 | 1,813.9 | 576.3 | 591.0 | 610.7 | 629.2 | 614.9 | 615.8 | 548.2 | 585.6 | 0 | 0 | 0 | 1,019.6 | 969.5 | |||||||
| Stockholders' Equity | 8,018.4 | 8,325.5 | 7,803.9 | 6,640.2 | 6,234.4 | 5,524.9 | 4,629.1 | 4,253.3 | 3,325.3 | 2,532.6 | 2,147.7 | 2,054.7 | 2,339.8 | 2,381.2 | 2,239.8 | 2,299.1 | 2,157.8 | 2,125.3 | 2,113.1 | 2,697.5 | 3,240.3 | 2,801.5 | 2,462.0 | 2,118.5 | 2,029.9 | 2,013.9 | 1,935.0 | 1,949.3 | 2,460.5 | 2,095.7 | 1,587.3 | 1,004.5 | 160.6 | 244.2 | |||||||
| Cash Flow | |||||||||||||||||||||||||||||||||||||||||
| Operating Cash Flow | 849.7 | 856 | 829 | 709 | 539 | 883 | 715 | 492 | 211 | 397 | 211 | 13 | 59 | (70) | 40 | 39 | 37 | 119 | 123 | 54 | 65 | 107 | 122 | 39 | (9) | 203 | 71 | 90 | 209 | 150 | 80 | 30 | 84 | 95 | (81) | 72 | 93 | ||||
| Capital Expenditure | (5.1) | (22) | (23) | (10) | (6) | (6) | (4) | (2) | (5) | (1) | (1) | (2) | (2) | (5) | (5) | (5) | (10) | (16) | (25) | (20) | (24) | (35) | (17) | (14) | (12) | (32) | (26) | (40) | (37) | (65) | (49) | (5) | (8) | (24) | (9) | (5) | (3) | ||||
| Free Cash Flow | 844.7 | 834 | 806 | 699 | 533 | 877 | 711 | 490 | 206 | 396 | 210 | 11 | 57 | (75) | 35 | 34 | 27 | 103 | 98 | 34 | 41 | 72 | 105 | 25 | (21) | 171 | 45 | 50 | 172 | 85 | 31 | 25 | 76 | 71 | (90) | 67 | 90 | ||||