Starwood Property Trust, Inc. logo STWD - Starwood Property Trust, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 14
HOLD 6
SELL 0
STRONG
SELL
0
| PRICE TARGET: $19.00 DETAILS
HIGH: $19.00
LOW: $19.00
MEDIAN: $19.00
CONSENSUS: $19.00
UPSIDE: 9.67%
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
Revenue
Revenue 513.1 506.2 489.9 475.9 418.2 448.3 487.9 489.8 615.0 518.0 532.2 520.3 490.6 480.1 404.0 325.7 305.9 302.3 302.2 299.6 287.2 291.0 267.4 264.7 312.9 381.3 288.8 313.7 315.0 296.9 285.8 269.6 261.0 242.8 227.5 211.7 198.6 186.2 204.6 160.1 121.8 153.7 151.0 142.7 208.3 171.9 255.9 199.9 214.4 194.5 189.2 152.9 89.0 84.2 69.0 61.6 69.7 54.2 27.4 48.4 43.3 25.0 33.1 17.9 12.4 6.1
Cost of Revenue 127.2 117.4 100.8 68.0 80.4 81.4 60.4 63.1 76.7 79.4 64.0 67.2 76.9 78.9 64.8 68.0 87.9 128.8 99.3 104.9 113.1 118.2 100.0 99.7 117.3 129.0 118.5 110.7 111.7 138.1 125.4 135.2 123.9 122.3 78.0 69.8 68.2 73.1 61.1 15.9 12.7 3.4 2.4 1.2 2.9 3.8 2.5 2.4 0.8 1.3 6.0 2.0 0.1 2.8 0.9 0 0 0 0 0 0 0 0 0 0 6.7
Gross Profit 386.0 388.9 389.1 408.0 337.8 366.9 427.4 426.7 538.4 438.6 468.2 453.1 413.7 401.3 339.2 257.8 217.9 173.6 202.9 194.7 174.1 172.7 167.4 165.0 195.6 252.3 170.3 203.0 203.2 158.8 160.4 134.4 137.0 120.5 149.4 141.8 130.4 113.1 143.5 144.2 109.1 150.3 148.6 141.5 205.4 168.1 253.4 197.5 213.5 193.2 183.2 150.9 89.0 81.4 68.1 61.6 69.7 54.2 27.4 48.4 43.3 25.0 33.1 17.9 12.4 (0.6)
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 0 0 0 0
SG&A 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 59.2 57.8 81.1 66.8 68.2 63.2 72.7 72.6 68.2 73.9 83.3 72.6 64.7 18.6 17.5 17.7 15.6 18.2 12.3 12.2 13.0 11.5 8.2 8.6 6.5 6.7 1.3
Other Expenses 39.8 (18.4) (8.2) 115.1 (7.6) 21.6 74.5 17.0 2.6 43.4 59.0 149.7 96.7 203.8 (69.6) 28.2 27.2 53.1 (59.0) (27.3) (7.0) 4.7 75.5 105.9 188.6 15.5 80.7 120.1 133.1 (7.3) 92.0 63.9 104.5 (6.1) 0 0 0 0 0 47.2 (8.9) 29.5 45.5 53.2 (1.5) 5.0 (7.9) (4.8) (5.2) 1.8 (1.9) 2.9 (1.7) 63.3 0 0 0.8 41.5 0 0 0 0 0 0 5.0 0
Operating Expenses 39.8 (18.4) (8.2) 115.1 (7.6) 21.6 74.5 17.0 2.6 43.4 59.0 149.7 96.7 203.8 (69.6) 28.2 27.2 53.1 (59.0) (27.3) (7.0) 4.7 75.5 105.9 188.6 15.5 80.7 120.1 133.1 (7.3) 92.0 63.9 104.5 (6.1) 0 0 0 0 0 157 146 154 128 133 121 127 120 118 119 122 109 101 41 33 31 27 31 20 21 20 20 14 14 10 8 1.3
Operating Income
Operating Income 346.2 407.3 397.3 292.9 345.4 345.3 353.0 409.7 535.8 395.2 409.2 303.4 317.0 197.5 408.8 229.5 190.7 120.4 261.9 222.0 181.1 168.1 92.0 59.1 6.9 236.8 89.6 82.9 70.2 166.2 68.4 70.6 32.5 126.6 29.2 7.5 30.4 195.9 60.0 43.3 49.2 452.2 117.1 117.6 120.8 502.1 167.4 120.4 122.4 142.8 32.2 26.6 80.0 69.3 62.5 55.1 62.4 48.1 21.3 40.3 39.6 23.6 27.8 14.2 7.6 (1.9)
Interest Expense 328.9 333.8 334.8 316.1 292.2 310.5 337.9 344.4 356.0 369.1 368.4 363.3 335.3 295.6 222.4 152.6 126.5 116.5 115.5 109.7 103.4 102.3 96.0 101.5 120.0 120.8 123.2 130.1 134.7 126.8 102.7 91.6 87.2 82.1 76.4 71.3 65.9 57.6 59.1 57.6 56.5 51.5 50.7 49.8 50.5 45.8 39.7 37.7 37.8 40.7 36.7 23.9 17.0 12.8 12.0 10.5 11.9 7.1 7.3 7.0 8.1 5.8 5.0 3.4 1.6 1.9
Interest Income 379.2 4.6 7.4 395.5 12.2 402.8 436.0 444.4 481.7 478.9 477.4 474.8 449.5 412.1 347.4 276.5 247.6 229.4 213.9 199.9 202.2 206.4 181.6 185.7 232.7 196.9 188.7 214.0 201.0 196.0 166.0 162.5 152.9 155.5 151.1 133.0 127.1 122.8 140.4 137.9 136.9 138.0 145.3 142.1 146.2 139.9 139.3 133.1 134.4 129.7 111.8 93.5 83.2 87.3 72.9 68.9 77.8 59.2 58.1 48.2 39.7 30.6 28.0 21.3 14.0 0
Profitability
EBITDA 416.1 499.3 454.2 461.9 423.5 392.2 430.7 448.1 526.8 484.7 420.6 599.2 398.7 465.1 410.1 448.8 520.0 237.9 285.6 255.2 250.6 254.1 299.1 276.6 71.0 330.9 305.9 294.7 240.8 257 234.6 249.2 226.6 215.7 52.1 29.5 52.6 209.5 75.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 62.5 55.1 62.4 48.1 21.3 40.3 39.6 23.6 27.8 14.2 7.6 0.8
EBIT 382.4 465.2 428.1 451.5 412.0 379.2 420.5 438.0 517.0 472.1 408.3 586.9 386.3 452.3 397.5 436.5 508.3 221.8 263.5 232.7 228.1 230.3 275.6 253.2 47.0 303.6 277.7 266.1 211.5 227.5 200.3 212.0 194.8 189.2 29.2 7.5 30.4 195.9 60.0 (17.9) (16.8) (11.4) (6.8) (5.4) (3.7) (3.4) (2.6) (4.8) (5.8) (6.9) (4.7) (2.7) (0.7) 71.4 99.7 59.0 66.8 2.7 15.3 36.3 32.0 17.1 25.1 12.0 0 1.1
Income Before Tax 53.5 131.3 93.3 135.4 119.9 68.7 82.6 93.6 161.1 103.0 40.0 223.6 51.0 156.7 175.1 283.9 381.9 105.3 148.0 123.0 124.8 128.0 179.6 151.7 (73.0) 182.8 154.5 136.0 76.8 100.8 97.7 120.4 107.7 107.1 102.6 132.7 101.9 127.6 108.5 112.8 27.1 86.4 124.8 121.4 136.7 102.2 171.2 124.7 128.1 90.3 105.3 74.5 64.2 58.6 50.6 44.8 50.7 41.1 14.0 34.1 31.7 18.1 23.5 11.4 5.9 (0.8)
Income Tax Expense (3.9) 18.9 13.3 0.7 3.8 (2.1) 10.4 15.9 1.2 18.3 (11.4) 1.2 (8.8) (12.5) (48.8) 2.2 (2.5) 2.3 7.5 (3.4) 2.2 13.4 14.8 (1.3) (6.7) 4.9 4.5 3.5 0.3 0.8 8.3 3.3 2.9 13.2 9.8 9.5 (1.0) 4.9 2.7 0.7 0.1 (10.2) 7.7 3.8 16.0 10.4 3.8 4.3 5.6 (1.6) 13.7 11.2 0.8 0.2 0.3 0.1 0.4 0.0 (0.5) 0.8 0.3 0.2 0.2 0.0 0 0.3
Net Income 51.9 96.9 72.6 129.8 112.3 51.6 76.1 77.9 154.3 71.0 47.4 168.8 52.0 140.0 194.6 212.3 324.6 91.4 128.6 116.3 111.4 107.0 151.8 139.7 (66.8) 171.9 140.4 127.0 70.4 92.1 84.5 109.2 99.9 92.6 87.7 116.6 101.5 121.0 105.3 110.9 25.9 96.3 115.7 115.9 119.4 90.8 163.3 116.5 118.9 90.3 87.0 60.1 61.8 56.3 49.9 44.1 49.7 41.0 14.5 32.4 31.4 17.6 22.7 10.8 5.9 (1.1)
Per Share Data
EPS (Basic) 0.15 0.29 0.22 0.38 0.33 0.14 0.23 0.24 0.49 0.22 0.15 0.54 0.16 0.45 0.63 0.68 1.01 0.30 0.44 0.40 0.39 0.38 0.53 0.49 -0.24 0.61 0.50 0.45 0.25 0.33 0.31 0.41 0.38 0.35 0.34 0.45 0.39 0.47 0.44 0.47 0.11 0.41 0.49 0.49 0.53 0.41 0.73 0.53 0.61 0.46 0.51 0.37 0.46 0.42 0.43 0.40 0.53 0.44 0.16 0.40 0.44 0.25 0.47 0.23 0.12 -0.02
EPS (Diluted) 0.15 0.30 0.22 0.38 0.33 0.14 0.23 0.24 0.48 0.22 0.15 0.54 0.16 0.44 0.61 0.67 1.01 0.30 0.44 0.40 0.38 0.38 0.52 0.49 -0.24 0.60 0.49 0.45 0.25 0.33 0.31 0.40 0.38 0.35 0.33 0.44 0.39 0.47 0.44 0.47 0.11 0.41 0.49 0.49 0.52 0.41 0.73 0.52 0.60 0.46 0.51 0.37 0.46 0.42 0.43 0.40 0.53 0.44 0.15 0.39 0.43 0.25 0.47 0.22 0.12 -0.02
Shares Outstanding 336.9 336.9 336.9 336.9 337.4 337.4 319.7 313.5 311.8 313.4 310.3 309.7 308.4 310.7 306.7 305.0 302.9 290.3 285.7 284.7 283.3 282.6 282.6 281.5 281.0 282.2 280.0 279.2 277.5 275.7 265.4 261.0 260.7 260.2 259.8 259.5 259.0 259.0 237.4 237.1 236.6 236.6 237.8 235.1 223.5 222.7 222.5 218.8 195.5 195.5 171.5 162.4 135.5 133.7 116.7 111.3 93.2 93.2 93.2 82.1 71.0 71.0 47.8 47.7 47.7 47.6
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
Current Assets
Cash & Cash Equivalents 290.3 499.5 301.1 259.9 440.6 377.8 357.9 259.3 327.4 194.7 195.3 333.9 395.8 261.1 339.7 272.2 264.2 217.4 273.3 254.6 351.2 563.2 379.9 347.7 811.7 574.0 284.1 334.3 412.3 239.8 265.8 235.4 286.2 369.4 413.8 261.9 222.5 615.5 501.6 404.8 335.2 210.5 108.0 645
Short-Term Investments 86.7 88.3 89.5 91.4 91.9 93.8 97.5 98.4 100.3 63.4 102.1 107.2 111.1 113.4 0 128.7 0 144.0 0 0 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 177.4 162.7 167.6 164.6 142.7 167.8 197.1 197.1 194.5 200.9 173.3 189.6 181.8 168.5 154.1 131.7 123.8 116.3 108.1 113.8 101.7 96.0 78.0 71.7 58.5 64.1 51.8 61.4 60.3 60.4 52.9 54.7 41.3 47.7 35.0 33.3 32.8 28.2 26.7 30.0 36.0 7.2 6.0 2
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (128.7) 0 0 (52.6) (35.6) (38.0) (40.6) (64.8) (90.9) (101.4) 0 (81.5) (53.7) (47.4) (52.7) (59.8) (50.8) (41.1) (33.9) (38.3) (46.1) (71.0) (89.4) (34.3) (42.7) (36.9) 0 0 0
Other Current Assets 375.8 175.2 (558.2) (515.9) (675.2) (639.4) (652.5) (554.8) (622.2) 0 0 0 0 (543.0) 0 2,561.7 0 (477.6) 0 0 0 0 0 0 0 (638.1) 0 0 0 906.5 0 0 0 718.2 0 0 0 807.6 0 0 0 0 0 0
Total Current Assets 930.2 925.6 0 0 0 0 0 0 0 459.0 1,090.2 1,287.7 1,350.5 0 493.9 20,729.6 388.0 0 1,052.3 1,041.9 351.2 563.2 379.9 347.7 1,648.2 0 1,145.0 1,245.2 1,382.8 1,206.6 1,082.1 732.0 841.9 1,135.4 1,150.7 1,044.2 985.4 1,451.4 1,383.0 1,333.7 1,020.6 287.2 148.1 647.3
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 0 0 0 1,405.8 1,442.8 1,444.0 0 1,217.4 1,226.0 1,122.4 0 2,228.9 2,243.6 2,244.7 2,271.2 2,207.8 2,224.3 2,253.1 0 2,729.5 2,772.0 2,769.4 2,784.9 2,888.7 2,936.7 2,988.9 2,647.5 2,521.3 1,960.5 1,938.0 1,944.7 1,237.9 1,232.9 1,155.0 0 0 0
Goodwill 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 259.8 0 259.8 259.8 259.8 259.8 256.4 140.4 140.4 140.4 140.4 140.4 140.4 140.4 140.4 140.4 140.4 0 0 0
Intangible Assets 426.7 436.1 429.8 54.4 59.8 60.7 60.2 62.3 63.3 65.0 66.0 68.2 66.8 68.8 73.1 75.0 62.1 63.6 65.1 65.2 66.8 70.1 74.1 76.3 82.0 0 119.9 129.5 136.8 145.0 153.9 166.7 179.6 183.1 181.9 191.4 202.1 219.2 155.4 177.1 180.5 0 0 0
Long-Term Investments 23,673.2 23,257.0 2,201.9 2,639.6 2,661.4 2,706.2 2,791.6 2,768.1 2,821.9 2,838.8 2,792.7 2,834.8 2,628.1 2,668.7 2,642.6 2,557.7 2,222.6 1,991.4 764.9 770.4 779.2 844.7 849.5 856.9 865.3 0 935.3 969.4 1,034.6 1,078.2 932.2 608.7 674.6 903.7 945.3 978.5 932.0 1,012.2 1,040.4 1,099.3 846.0 326.0 282.6 246
Other Non-Current Assets 36,797.4 38,304.8 (2,891.5) (2,953.8) (2,981.1) (3,026.7) (3,111.6) (3,090.2) (3,145.1) 44,207.1 (2,792.7) (2,834.8) (2,628.1) (2,997.3) (2,975.5) 58,250.7 (2,544.6) (2,314.8) (764.9) (770.4) (779.2) (844.7) (849.5) 77,191.7 74,721.9 (359.6) 71,974.0 70,343.4 69,351.5 65,572.7 60,496.8 58,953.0 59,290.3 60,578.7 60,288.0 62,188.5 68,218.8 74,433.0 80,201.9 86,635.9 92,248.8 (326.0) (282.6) 215.5
Total Non-Current Assets 61,157.1 62,257.7 0 0 0 0 0 0 0 47,370.7 325.8 328.1 326.6 0 2,975.5 62,369.3 2,544.6 0 325.0 325.0 326.6 330.0 334.0 78,384.8 75,929.0 0 73,289.1 71,702.1 70,782.8 67,055.8 61,839.4 59,868.7 60,285.0 61,805.9 61,555.6 63,498.8 69,493.3 75,804.9 81,538.2 88,052.7 93,415.8 326.0 282.6 461.5
Total Assets 62,087.3 63,183.4 62,434.0 62,369.4 62,163.3 62,556.5 64,233.8 64,089.4 66,169.7 69,504.2 70,293.7 73,170.4 77,354.4 79,043.1 80,002.9 83,098.9 81,187.9 83,850.4 81,980.9 81,309.3 79,702.3 80,873.5 80,617.6 79,556.3 77,577.2 78,042.3 74,434.1 72,947.4 72,165.6 68,262.5 62,921.5 60,600.8 61,126.9 62,941.3 62,706.3 64,542.9 70,478.7 77,256.3 82,921.2 89,386.4 94,436.3 1,410.7 1,139.9 1,109
Current Liabilities
Account Payables 0 0 0 0 0 0 0 0 0 244.9 173.3 252.6 266.3 299.0 154.1 267.9 196.1 189.7 205.0 177.3 174.4 200.8 163.4 159.7 176.8 0 215.9 204.7 159.8 217.7 214.9 189.7 157.6 168.3 203.8 171.4 151.4 162.9 174.1 140.6 139.3 15.6 3.6 0
Short-Term Debt 11,039.7 9,887.7 1,258.9 1,235.7 954.4 831.3 790.5 861.9 1,007.8 1,046.6 968.7 1,216.7 1,516.2 1,321.5 1,244.3 1,121.3 984.1 1,338.6 691.5 960.2 0 0 0 0 0 1,051.3 0 0 0 0 840.1 588.8 767.8 0 1,651.8 0 35 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (821.7) (205.4) 0 (163.1) (165.9) 0 0 188.0 (3.9) (5.1) 0 (4.8) (8.9) (10.2) 0 (109.5) (110.2) (131.9) (110.4) (97.1) (8.1) (36.6) (38.9) (12.8) (17.9) (16.2) 0 0 0
Other Current Liabilities 0 0 (1,466.9) (1,427.7) (1,156.0) (1,033.7) (979.7) (1,043.1) (1,205.2) (44.8) (1,380.6) (1,469.3) (1,822.1) (1,514.2) (1,826.6) (666.2) (1,246.0) (1,562.6) (919.8) (1,163.9) (174.4) (200.8) (163.4) 63,206.1 60,611.5 (1,051.3) 58,514.0 56,993.0 56,437.0 (217.7) (1,055.0) (778.5) (925.4) 50,322.7 (1,855.6) (171.4) (186.4) 66,370.1 (174.1) (140.6) (139.3) (29.8) (20.1) 50
Total Current Liabilities 11,254.3 10,099.8 0 0 0 0 0 0 0 1,291.5 1,376.4 1,484.8 1,793.5 0 1,806.8 753.8 1,180.2 0 901.6 1,142.4 178.2 206.8 201.5 63,365.9 60,788.3 0 58,730.0 57,197.7 56,596.9 53,467.6 47,812.1 47,845 49,087 50,491 50,576 53,236 59,494 66,533 73,287 79,421 84,482 78 60 50
Non-Current Liabilities
Long-Term Debt 12,099.4 12,206.5 9,879.4 8,048.1 8,020.6 8,175.0 7,953.5 8,189.9 8,005.5 7,819.2 8,330.9 8,125.5 8,390.9 8,386.3 7,726.2 18,986.4 7,747.6 6,140.9 7,153.6 6,804.4 5,345.2 5,655.1 12,480.4 11,698.2 12,549.0 10,717.6 11,102.2 11,209.6 11,157.7 4,915.7 10,685.4 8,546.7 7,881.2 4,721.8 7,633.4 6,790.0 6,483.3 5,072.3 5,565.1 5,905.3 5,899.9 449.5 196.3 171
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Liabilities 31,384.9 33,387.5 (9,879.4) (8,048.1) (8,020.6) (8,175.0) (7,953.5) (8,189.9) (8,005.5) 54,079.4 (8,330.9) (8,125.5) (8,390.9) (8,386.3) (7,726.2) 56,261.6 (7,747.6) (6,140.9) (7,153.6) (6,804.4) (5,345.2) (5,655.1) (12,504.5) (11,724.4) (12,549.0) (10,730.8) (11,119.1) (11,209.6) (11,157.7) (4,915.7) (10,685.4) (8,546.7) (7,881.2) (4,721.8) (7,633.4) (6,790.0) (6,483.3) (5,072.3) (5,565.1) (5,905.3) (5,899.9) (449.5) (196.3) 0
Total Non-Current Liabilities 43,484.3 45,594.1 0 0 0 0 0 0 0 61,931.0 8,330.9 8,125.5 1,793.5 0 1,806.8 75,248.0 7,747.6 0 7,153.6 6,804.4 5,345.2 5,655.1 12,480.4 11,698.2 12,340.8 0 11,048.9 11,112.0 10,947.7 10,191.4 10,488.1 8,311 7,581 7,972 7,633 6,790 6,483 6,201 5,565 5,905 5,900 450 196 171
Total Liabilities 54,738.6 55,693.9 54,861.9 55,200.6 55,006.6 55,363.0 56,951.2 57,115.6 59,129.5 62,481.2 63,200.2 65,977.4 70,237.5 71,844.4 72,837.3 76,001.7 74,278.2 77,201.6 77,133.8 76,457.6 74,847.5 76,010.9 75,731.9 74,691.5 72,759.8 72,905.3 69,521.1 68,044.1 67,248.6 63,362.3 58,039.2 55,901.1 56,422.2 58,362.1 58,166.5 59,982.5 65,935.4 72,696.2 78,815.8 85,286.3 90,345.4 516.9 244.9 221
Stockholders' Equity
Common Stock 3.8 3.8 3.8 3.5 3.5 3.4 3.4 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.2 3.1 3.1 3.0 3.0 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.9 2.8 2.8 2.7 2.7 2.7 2.7 2.7 2.6 2.6 2.4 2.4 2.4 0.5 0.5 0.5
Retained Earnings (165.9) (39.0) 42.6 148.5 183.6 235.3 346.2 432.7 507.6 505.9 585.8 689.1 670.7 769.2 779.2 733.3 669.9 493.1 (688.0) (677.4) (654.8) (629.7) (599.0) (614.1) (616.8) (381.7) (417.5) (421.9) (413.6) (349.0) (308.3) (260.8) (243.4) (217.3) (184.1) (146.9) (138.7) (115.6) (112.3) (103.4) (100.2) (14.4) (13.1) (8)
Accumulated Other Comprehensive Income 10.9 11.6 11.9 12.8 12.7 13.6 16.3 13.9 14.1 15.4 14.1 17.4 19.9 21.0 22.8 29.0 35.7 41.0 40.5 41.3 41.7 44.0 42.3 42.9 35.9 50.9 52.4 57.1 55.8 58.7 67.9 68.1 75.3 69.9 65.3 56.0 40.1 36.1 40.2 32.6 33.5 (1.9) (0.4) 0
Total Stockholders' Equity 6,665.5 6,795.5 6,864.3 6,422.2 6,405.7 6,437.1 6,539.7 6,218.5 6,272.7 6,251.1 6,321.0 6,414.5 6,382.2 6,462.4 6,446.8 6,394.0 6,279.7 6,072.5 4,487.7 4,477.4 4,476.9 4,488.9 4,513.9 4,492.2 4,448.1 4,700.4 4,655.2 4,637.7 4,621.1 4,603.4 4,621.2 4,444.8 4,458.5 4,478.4 4,496.8 4,517.2 4,501.6 4,522.3 4,068.8 4,060.5 4,054.5 882.9 884.3 888
Total Liabilities & Equity 62,087.3 63,183.4 62,434.0 62,369.4 62,163.3 62,556.5 64,233.8 64,089.4 66,169.7 69,504.2 70,293.7 73,170.4 77,354.4 79,043.1 80,002.9 83,098.9 81,187.9 83,850.4 81,980.9 81,309.3 79,702.3 80,873.5 80,617.6 79,556.3 77,577.2 78,042.3 74,434.1 72,947.4 72,165.6 68,262.5 62,921.5 60,600.8 61,126.9 62,941.3 62,706.3 64,542.9 70,478.7 77,256.3 82,921.2 89,386.4 94,436.3 1,410.7 1,139.9 1,109
Debt Metrics
Total Debt 23,139.1 22,094.2 11,138.3 9,283.7 8,975.0 9,006.3 8,744.0 9,051.8 9,013.3 8,865.8 9,299.7 9,342.2 9,907.0 9,707.8 8,970.5 8,920.7 8,731.6 7,479.5 7,845.1 7,764.6 6,615.3 7,000.5 12,480.4 11,698.2 12,549.0 11,782.1 11,102.2 11,209.6 11,157.7 10,756.6 10,685.4 8,546.7 7,881.2 7,972.5 7,633.4 6,790.0 6,483.3 6,200.7 5,565.1 5,905.3 5,899.9 449.5 196.3 171
Net Debt 22,848.8 21,594.8 10,837.2 9,023.8 8,534.4 8,628.4 8,386.1 8,792.5 8,686.0 8,671.2 9,104.3 9,008.3 9,511.2 9,446.8 8,630.8 8,648.5 8,467.4 7,262.2 7,571.7 7,510.0 6,264.1 6,437.2 12,100.5 11,350.5 11,737.3 11,208.1 10,818.1 10,875.3 10,745.4 10,516.8 10,419.6 8,311.2 7,595.1 7,603.0 7,219.6 6,528.1 6,260.8 5,585.1 5,063.5 5,500.5 5,564.7 239.1 88.4 (474)
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 57.4 112.4 79.9 134.7 116.1 70.8 72.2 77.7 159.9 84.6 51.4 222.4 59.8 169.2 223.8 281.7 384.3 103.0 140.5 126.4 122.5 114.7 164.7 153.0 (66.3) 178.0 150.0 132.4 76.5 99.9 89.4 117.1 104.8 93.9 92.8 123.2 102.9 122.7 105.8 112.1 27.0
Depreciation & Amortization 35.5 32.8 18.2 11.6 12.8 12.5 11.4 11.3 11.0 13.4 13.6 13.7 13.6 14.0 13.8 13.4 12.8 16.9 22.5 22.6 22.5 23.5 23.5 23.3 23.9 27.2 28.8 28.5 28.9 29.1 33.9 36.4 31.4 26.0 22.2 21.4 21.3 12.5 14.4 17.9 16.8
Stock-Based Compensation 14.0 12.6 14.7 13.4 13.3 10.3 10.8 10.7 10.0 8.2 10.6 9.5 10.9 10.5 9.7 9.9 10.1 9.9 9.5 9.6 10.3 8.8 (29.8) 34.3 17.9 10.7 13.0 7.0 17.3 8.5 8.7 10.7 15.8 10.1 7.4 7.6 12.7 13.0 9.6 9.9 18.0
Change in Working Capital (32.7) (47.7) 157.6 (178.7) 21.1 11.7 (38.0) 43.7 (64.9) (223.4) 133.5 16.7 (162.7) (130.3) 147.2 16.9 (55.0) 46.6 11.6 (55.2) (90.3) (29.7) (26.6) (40.0) (80.8) 54.4 (99.3) (15.2) (92.4) 36.5 4.5 (10.4) (57.8) (56.4) 8.1 (5.8) (48.0) (0.8) 11.4 (22.1) (62.1)
Other Non-Cash Items 19.4 378.7 67.2 (68.3) 75.5 190.3 185.4 (90.1) (60.1) 129.0 147.4 (73.3) 49.8 (694.4) (235.1) 209.0 (197.8) (695.9) (909.9) (66.2) 255.3 420.2 (375.0) 420.5 226.5 369.6 (156.5) (546.5) (168.3) 267.3 192.6 (374.3) 8.4 (146.2) (19.6) (279.2) (284.5) 261.5 (84.8) (83.0) 114.4
Operating Cash Flow 93.6 488.8 337.6 (87.4) 238.9 295.6 241.8 53.3 55.9 11.9 356.4 188.9 (28.6) (631.0) 159.5 530.9 154.4 (528.2) (749.7) 17.2 270.8 519.4 (243.6) 579.0 190.7 556.6 (86.9) (390.1) (92.7) 410.8 322.3 (240.1) 92.4 (24.4) 122.6 (149.0) (196.0) 355.5 52.6 17.4 131.1
Investing Activities
Capital Expenditure 0 (205.7) 14.8 (9.0) (5.7) (7.0) (6.8) (8.6) (5.6) (5.4) (5.3) (8.5) (5.8) (7.9) (6.0) (4.7) (6.6) (9.0) (5.2) (8.5) (3.5) (7.2) (4.0) (6.9) (7.1) (7.9) (12.6) (1.9) (8.5) (10.0) (8.0) (29.7) (7.1) (9.2) (539.3) (23.1) (2.4) (612.9) (4.7) 499.4 (180.6)
Acquisitions 0 0 0 0 0 3.3 0 0 0 0.7 0 0 0 7.9 6.0 0.6 6.6 98.2 5.2 (275.4) (1,228.4) 3.1 (0.0) (0.0) (3.1) 8.4 (7.6) (0.3) (0.5) (147.1) (2,011.5) 29.7 7.1 0.6 (38.7) 0 0 (758.8) 0 (17.5) (73.6)
Purchases of Investments (22.7) (63.0) (6,061.6) (10.9) (26.8) (37.9) (52.9) (14.2) (10.0) (18.9) (26.9) (6.9) (3.9) (4.6) 1.3 (75.7) (27.1) (247.0) (6.6) (7.3) (0.9) 1.5 (1.6) (24.0) (76.2) (109.3) (28.9) (16.6) (4.4) (191.4) (292.8) (25.3) (15.6) (40.1) (83.8) (14.5) (32.7) (11.0) (18.7) (272.7) (97.0)
Sales/Maturities of Investments 4.8 7.9 (158.9) 85.0 81.5 214.6 8.7 69.1 37.4 27.3 44.7 18.0 46.4 130.8 20.5 77.2 90.4 23.1 25.3 14.2 83.0 18.6 18.0 51.4 30.4 115.9 49.9 74.2 11.7 42.6 41.0 105.3 231.0 31.1 124.4 16.6 103.9 101.4 35.6 46.1 30.3
Other Investing Activities (822.4) (437.5) 4,986.5 (1,017.5) (955.4) 164.5 361.2 224.2 1,143.8 (91.8) 378.6 536.4 (23.6) (220.1) (401.7) (1,917.7) (618.0) (2,129.5) (670.4) 30.4 30.6 (357.8) (341.6) 192.9 (398.3) (1,181.1) 196.5 374.9 (227.8) 197.7 (148.9) (467.9) 180.0 (109.9) (696.3) 30.7 (357.3) 18.8 521.8 4.4 (27.8)
Investing Cash Flow (989.7) (698.4) (1,219.3) (952.4) (906.4) 337.5 310.2 270.5 1,165.7 (88.1) 391.1 539.1 13.0 (93.9) (379.9) (1,921.7) (554.8) (2,264.2) (651.7) (246.5) (1,119.2) (341.8) (329.2) 213.4 (454.2) (1,174.0) 197.4 430.3 (229.6) (108.3) (2,420.1) (387.9) 395.4 (127.6) (655.7) 32.9 (286.1) (1,262.4) 538.7 259.6 (348.7)
Financing Activities
Net Debt Issuance 887.8 526.3 693.7 963.2 918.7 (406.1) (711.6) (168.5) (927.4) 11.9 (615.6) (668.4) 309.7 781.1 499.9 1,456.7 605.1 2,260.7 1,558.5 259.4 731.1 169.4 700.1 (1,062.2) 820.6 781.6 (75.1) 88.2 512.9 (81.0) 2,324.4 664.3 (163.5) 290.2 810.3 279.4 195.5 673.0 (383.5) (108.0) 309.6
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (5.0) 0 0 (28.8) 0 0 0 0 0 0 0 (12.1) 0 0 0 0 0 0 0 (19.7)
Dividends Paid (178.2) (178.2) (326.0) (163.7) (162.3) (162.8) (152.3) (152.6) (152.3) (150.7) (150.5) (150.2) (149.8) (148.7) (148.5) (147.6) (146.7) (139.0) (138.9) (138.4) (137.7) (138.0) (137.3) (135.7) (135.9) (135.9) (135.2) (134.8) (132.5) (131.9) (126.4) (125.9) (125.7) (125.6) (126.1) (125.4) (124.5) (114.7) (114.5) (114.5) (114.6)
Other Financing Activities 195.6 (3.0) 612.0 (9.3) 47.7 (19.9) (7.3) (19.1) (1.5) 94.9 (5.1) 13.2 3.0 (4.0) (6.8) 12.0 (6.1) 215.4 5.0 (0.6) 3.5 6.8 (3.5) (1.8) (35.8) 149.8 (19.9) (23.3) 0.1 7.1 (35.3) 36.1 (225.9) (64.5) 11.3 4.0 22.6 15.3 3.3 17.0 7.7
Financing Cash Flow 887.4 345.7 946.5 821.8 805.5 (588.2) (478.4) (339.5) (1,079.8) (43.4) (770.6) (804.8) 164.2 645.2 345.4 1,354.7 452.5 2,730.5 1,424.8 120.6 597.2 33.2 559.4 (1,199.4) 620.1 795.6 (229.9) (69.7) 380.7 (205.7) 2,162.8 574.7 (527.1) 100.2 695.7 158.0 93.8 1,022.5 (494.5) (205.4) 182.9
Cash Position
Net Change in Cash (8.6) 135.5 64.2 (217.5) 138.4 43.9 74.4 (17.0) 140.7 (119.3) (22.9) (77.2) 149.3 (79.1) 124.5 (37.0) 51.9 (61.9) 23.2 (109.3) (252.2) 211.0 (12.9) (407.3) 357.4 179.4 (121.5) (29.8) 58.1 97.8 64.8 (54.2) (38.9) (50.2) 163.2 42.7 (388.2) 114.0 96.7 69.6 (33.6)
Cash at Beginning 674.6 539.1 474.9 692.4 554.0 510.1 435.7 452.7 312.0 431.3 454.2 531.4 382.1 461.3 336.8 373.8 321.9 383.8 360.6 469.9 722.2 511.2 524.1 931.4 574.0 394.7 516.2 546.0 487.9 390.0 325.2 379.4 418.3 468.4 305.2 262.5 650.8 501.6 404.8 335.2 368.8
Cash at End 666.1 674.6 539.1 474.9 692.4 554.0 510.1 435.7 452.7 312.0 431.3 454.2 531.4 382.1 461.3 336.8 373.8 321.9 383.8 360.6 469.9 722.2 511.2 524.1 931.4 574.0 394.7 516.2 546.0 487.9 390.0 325.2 379.4 418.3 468.4 305.2 262.5 615.5 501.6 404.8 335.2
Free Cash Flow 93.6 283.1 352.3 (96.4) 233.1 288.6 235.0 44.6 50.4 6.4 351.0 180.4 (34.4) (638.9) 153.5 526.2 147.8 (537.2) (755.0) 8.7 267.3 512.2 (247.6) 572.1 183.7 548.7 (99.5) (392.0) (101.2) 400.8 314.3 (269.8) 85.3 (33.6) (416.6) (172.1) (198.5) (257.5) 47.9 516.8 (49.5)
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
Income Statement
Revenue 513.1 506.2 489.9 475.9 418.2 448.3 487.9 489.8 615.0 518.0 532.2 520.3 490.6 480.1 404.0 325.7 305.9 302.3 302.2 299.6 287.2 291.0 267.4 264.7 312.9 381.3 288.8 313.7 315.0 296.9 285.8 269.6 261.0 242.8 227.5 211.7 198.6 186.2 204.6 160.1 121.8 153.7 151.0 142.7 208.3 171.9 255.9 199.9 214.4 194.5 189.2 152.9 89.0 84.2 69.0 61.6 69.7 54.2 27.4 48.4 43.3 25.0 33.1 17.9 12.4 6.1
Gross Profit 386.0 388.9 389.1 408.0 337.8 366.9 427.4 426.7 538.4 438.6 468.2 453.1 413.7 401.3 339.2 257.8 217.9 173.6 202.9 194.7 174.1 172.7 167.4 165.0 195.6 252.3 170.3 203.0 203.2 158.8 160.4 134.4 137.0 120.5 149.4 141.8 130.4 113.1 143.5 144.2 109.1 150.3 148.6 141.5 205.4 168.1 253.4 197.5 213.5 193.2 183.2 150.9 89.0 81.4 68.1 61.6 69.7 54.2 27.4 48.4 43.3 25.0 33.1 17.9 12.4 (0.6)
Operating Income 346.2 407.3 397.3 292.9 345.4 345.3 353.0 409.7 535.8 395.2 409.2 303.4 317.0 197.5 408.8 229.5 190.7 120.4 261.9 222.0 181.1 168.1 92.0 59.1 6.9 236.8 89.6 82.9 70.2 166.2 68.4 70.6 32.5 126.6 29.2 7.5 30.4 195.9 60.0 43.3 49.2 452.2 117.1 117.6 120.8 502.1 167.4 120.4 122.4 142.8 32.2 26.6 80.0 69.3 62.5 55.1 62.4 48.1 21.3 40.3 39.6 23.6 27.8 14.2 7.6 (1.9)
Net Income 51.9 96.9 72.6 129.8 112.3 51.6 76.1 77.9 154.3 71.0 47.4 168.8 52.0 140.0 194.6 212.3 324.6 91.4 128.6 116.3 111.4 107.0 151.8 139.7 (66.8) 171.9 140.4 127.0 70.4 92.1 84.5 109.2 99.9 92.6 87.7 116.6 101.5 121.0 105.3 110.9 25.9 96.3 115.7 115.9 119.4 90.8 163.3 116.5 118.9 90.3 87.0 60.1 61.8 56.3 49.9 44.1 49.7 41.0 14.5 32.4 31.4 17.6 22.7 10.8 5.9 (1.1)
EPS (Diluted) 0.15 0.30 0.22 0.38 0.33 0.14 0.23 0.24 0.48 0.22 0.15 0.54 0.16 0.44 0.61 0.67 1.01 0.30 0.44 0.40 0.38 0.38 0.52 0.49 -0.24 0.60 0.49 0.45 0.25 0.33 0.31 0.40 0.38 0.35 0.33 0.44 0.39 0.47 0.44 0.47 0.11 0.41 0.49 0.49 0.52 0.41 0.73 0.52 0.60 0.46 0.51 0.37 0.46 0.42 0.43 0.40 0.53 0.44 0.15 0.39 0.43 0.25 0.47 0.22 0.12 -0.02
Balance Sheet
Cash & Equivalents 290.3 499.5 301.1 259.9 440.6 377.8 357.9 259.3 327.4 194.7 195.3 333.9 395.8 261.1 339.7 272.2 264.2 217.4 273.3 254.6 351.2 563.2 379.9 347.7 811.7 574.0 284.1 334.3 412.3 239.8 265.8 235.4 286.2 369.4 413.8 261.9 222.5 615.5 501.6 404.8 335.2 210.5 108.0 645
Total Assets 62,087.3 63,183.4 62,434.0 62,369.4 62,163.3 62,556.5 64,233.8 64,089.4 66,169.7 69,504.2 70,293.7 73,170.4 77,354.4 79,043.1 80,002.9 83,098.9 81,187.9 83,850.4 81,980.9 81,309.3 79,702.3 80,873.5 80,617.6 79,556.3 77,577.2 78,042.3 74,434.1 72,947.4 72,165.6 68,262.5 62,921.5 60,600.8 61,126.9 62,941.3 62,706.3 64,542.9 70,478.7 77,256.3 82,921.2 89,386.4 94,436.3 1,410.7 1,139.9 1,109
Total Debt 23,139.1 22,094.2 11,138.3 9,283.7 8,975.0 9,006.3 8,744.0 9,051.8 9,013.3 8,865.8 9,299.7 9,342.2 9,907.0 9,707.8 8,970.5 8,920.7 8,731.6 7,479.5 7,845.1 7,764.6 6,615.3 7,000.5 12,480.4 11,698.2 12,549.0 11,782.1 11,102.2 11,209.6 11,157.7 10,756.6 10,685.4 8,546.7 7,881.2 7,972.5 7,633.4 6,790.0 6,483.3 6,200.7 5,565.1 5,905.3 5,899.9 449.5 196.3 171
Stockholders' Equity 6,665.5 6,795.5 6,864.3 6,422.2 6,405.7 6,437.1 6,539.7 6,218.5 6,272.7 6,251.1 6,321.0 6,414.5 6,382.2 6,462.4 6,446.8 6,394.0 6,279.7 6,072.5 4,487.7 4,477.4 4,476.9 4,488.9 4,513.9 4,492.2 4,448.1 4,700.4 4,655.2 4,637.7 4,621.1 4,603.4 4,621.2 4,444.8 4,458.5 4,478.4 4,496.8 4,517.2 4,501.6 4,522.3 4,068.8 4,060.5 4,054.5 882.9 884.3 888
Cash Flow
Operating Cash Flow 93.6 488.8 337.6 (87.4) 238.9 295.6 241.8 53.3 55.9 11.9 356.4 188.9 (28.6) (631.0) 159.5 530.9 154.4 (528.2) (749.7) 17.2 270.8 519.4 (243.6) 579.0 190.7 556.6 (86.9) (390.1) (92.7) 410.8 322.3 (240.1) 92.4 (24.4) 122.6 (149.0) (196.0) 355.5 52.6 17.4 131.1
Capital Expenditure 0 (205.7) 14.8 (9.0) (5.7) (7.0) (6.8) (8.6) (5.6) (5.4) (5.3) (8.5) (5.8) (7.9) (6.0) (4.7) (6.6) (9.0) (5.2) (8.5) (3.5) (7.2) (4.0) (6.9) (7.1) (7.9) (12.6) (1.9) (8.5) (10.0) (8.0) (29.7) (7.1) (9.2) (539.3) (23.1) (2.4) (612.9) (4.7) 499.4 (180.6)
Free Cash Flow 93.6 283.1 352.3 (96.4) 233.1 288.6 235.0 44.6 50.4 6.4 351.0 180.4 (34.4) (638.9) 153.5 526.2 147.8 (537.2) (755.0) 8.7 267.3 512.2 (247.6) 572.1 183.7 548.7 (99.5) (392.0) (101.2) 400.8 314.3 (269.8) 85.3 (33.6) (416.6) (172.1) (198.5) (257.5) 47.9 516.8 (49.5)