Smurfit Westrock Plc logo SW - Smurfit Westrock Plc

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 11
HOLD 0
SELL 0
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| PRICE TARGET: $53.00 DETAILS
HIGH: $58.00
LOW: $45.00
MEDIAN: $54.00
CONSENSUS: $53.00
UPSIDE: 39.29%
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 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 2009 Q3 2009 Q2 2009 Q1
Revenue
Revenue 6,700.3 7,580 8,003 7,940 7,656 7,277.4 6,889.3 2,771.6 2,715.2 2,592.4 2,757.3 2,818.8 2,987.0 3,384.4 3,698.3 3,192.5 3,192.5 3,097.2 2,714 2,339.5 2,339.5 2,163.5 2,163.5 2,101.5 2,101.5 2,213 2,213 2,311 2,311 2,259 2,259 2,214 2,214 2,811.2 2,490.4 2,406.9 2,275.1 1,738.5 2,299.9 2,279.2 2,267.8 2,091.9 2,277.4 2,281.3 2,124.7 2,247.3 2,572.1 2,749.1 2,657.1 2,993.8 2,720.4 2,626.7 2,419.1 2,625.7 2,349.7 2,351.0 2,431.9 2,013.8 2,537.1 2,767.4 2,545.7 2,164.3 2,785.0 1,876.9 2,054.0 2,063.7 2,402.6 2,168.7 2,043.1
Cost of Revenue 5,598.6 6,198 6,434 6,425 6,079 6,104.6 5,473.0 2,124.6 2,057.3 1,957.4 2,055.4 2,096.7 2,228.2 2,773.3 3,030.4 2,191.5 2,191.5 3,015.0 1,894.5 1,613 1,613 1,431 1,431 1,397 1,397 1,477 1,477 1,544.5 1,544.5 1,502.5 1,502.5 1,492 1,492 1,945.2 1,727.2 1,704.5 1,626.4 1,208.3 1,602.0 1,578.4 1,599.1 1,452.6 1,595.5 1,593.8 1,502.0 1,606.9 1,812.0 1,920.9 1,869.1 2,138.7 1,904.0 1,863.0 1,745.5 1,897.8 1,662.8 1,680.0 1,730.2 1,453.9 1,822.7 2,006.6 1,829.8 1,570.9 1,993.6 1,367.7 1,484.8 1,534.6 1,754.5 1,581.1 1,438.1
Gross Profit 1,101.7 1,382 1,569 1,515 1,577 1,172.8 1,416.3 646.9 658.0 635.0 701.9 722.1 758.7 611.2 667.9 1,001 1,001 82.2 819.5 726.5 726.5 732.5 732.5 704.5 704.5 736 736 766.5 766.5 756.5 756.5 722 722 866.0 763.2 702.4 648.6 530.1 697.8 700.8 668.7 639.3 681.9 687.5 622.7 640.4 760.1 828.1 788.1 855.0 816.4 763.7 673.6 727.9 686.9 671.0 701.7 559.8 714.4 760.8 715.8 593.3 791.4 509.2 569.2 529.1 648.1 587.6 605.0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3.5 3.5 0 0 4 4 0 0 4 4 0 0 3.5 3.5 0 0 7 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 834.9 920 963 963 973 954.7 916.1 390.2 361.4 434.8 359.4 370.2 358.6 196.4 200.4 583.5 583.5 233.1 523 490 490 499.5 499.5 482.5 482.5 488 488 492 492 472 472 463 463 569.4 509.6 485.0 469.1 339.3 452.1 466.1 465.8 407.3 455.7 482.3 449.4 466.1 529.1 564.8 555.6 597.8 551.9 558.1 495.6 552.7 486.6 476.0 504.2 207.5 495.7 178.2 176.5 271.0 187.1 119.1 149.0 221.0 52.5 262.7 201.7
Other Expenses 0 0 0 0 0 (168.9) 450.8 28.9 12.0 37.1 7.6 (9.2) (9.2) 71.4 92.3 (2) (2) (484.4) (5) (2) (2) 8.5 8.5 (3) (3) 81 81 (4.5) (4.5) 10.5 10.5 10 10 7.4 0 0 0 16.9 0 0 0 13.9 6.8 7.9 35.7 50.6 0 (1.4) 12.4 3.5 1.3 13.0 16.6 (3.4) (30.8) (1.3) (37.4) 186.6 (1.4) 386.3 331.8 177.7 387.8 305.3 322.2 241.9 517.8 195.1 294.5
Operating Expenses 834.9 920 963 963 973 785.8 1,366.9 419.1 373.5 471.9 367.0 361.1 349.4 267.8 292.7 581.5 581.5 (247.8) 521.5 488 488 512 512 479.5 479.5 573 573 487.5 487.5 486 486 473 473 583.8 509.6 485.0 469.1 356.2 452.1 466.1 465.8 421.2 462.5 490.1 485.1 516.7 529.1 563.5 568.0 601.3 553.3 571.1 512.2 549.4 455.8 474.7 466.9 394.1 494.4 564.5 508.3 448.7 574.9 424.4 471.2 462.8 570.3 457.9 496.2
Operating Income
Operating Income 266.7 462 606 552 604 387.1 49.4 227.8 284.5 163.0 334.8 361.1 409.3 343.3 375.2 419.5 419.5 330.0 298 238.5 238.5 220.5 220.5 225 225 163 163 279 279 270.5 270.5 249 249 282.2 253.6 217.3 179.5 173.9 245.7 234.7 202.9 218.1 219.4 197.4 137.5 123.7 230.9 264.7 220.1 253.7 263.1 192.5 161.4 178.5 231.1 196.2 234.8 165.7 220.0 196.4 207.6 144.7 216.5 84.8 98.0 66.2 77.8 129.7 108.8
Interest Expense 198.0 233 204 208 195 197.0 187.1 30.7 0 67.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 44.3 40.9 77.8 42.8 34.1 40.8 62.3 37.8 36.2 47.3 38.1 45.5 38.6 135.8 105.1 62.7 46.1 52.0 88.0 59.7 58.1 77.6 82.0 64.9 71.3 69.1 66.6 64.7 71.6 64.3 75.5 107.4 (49.1) 119.2 92.1 88.9
Interest Income 32.0 30 27 26 28 29.9 37.6 0 0 13.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.0 1.0 16.0 1.0 (41.5) 1.0 31.1 1.0 1.0 11.3 2.2 1.0 1.9 22.8 8.2 2.0 1.0 6.9 8.0 1.0 2.0 1.9 5.1 2.0 3.1 2.1 2.0 1.0 2.0 0.4 1.0 1.0 (1.1) 3.3 4.4 4.0
Profitability
EBITDA 899.2 1,137 1,265 1,165 1,207 789.6 1,006.8 406.1 433.7 336.1 490.9 481.0 529.2 538.5 602.7 570 570 440.8 385 373 373 325 325 358.5 358.5 339 339 404 404 390 390 356.5 356.5 403.3 375.8 351.9 275.7 267.7 367.5 368.4 303.7 344.2 337.1 306.2 241.5 202.4 349.8 396.0 330.1 317.4 405.5 329.6 268.9 417.7 345.9 310.7 348.2 290.5 324.9 213.6 225.9 293.8 212.0 166.4 232.2 190.7 225.4 252.4 244.1
EBIT 266.7 462 606 552 604 218.2 500.2 256.7 296.5 200.2 342.4 351.9 400.1 414.8 467.5 417.5 417.5 315.3 296.5 236.5 236.5 233 233 222 222 248 248 274.5 274.5 284.5 284.5 259 259 269.8 256.0 233.4 167.8 168.8 258.0 267.0 196.1 238.0 232.9 200.8 147.3 94.8 253.8 274.2 210.4 172.1 273.9 205.6 156.2 280.9 233.7 205.1 234.8 171.0 220.0 123.2 140.0 159.4 210.0 81.8 103.4 18.9 82.1 120.3 115.4
Income Before Tax 73.0 175 336 58 390 215.3 (105.1) 174.6 247.4 93.3 285.7 310.7 363.2 313.8 342.9 384.5 384.5 284.7 250 206.5 206.5 182.5 182.5 191.5 191.5 110.5 110.5 228 228 (410) (410) 208 208 203.8 199.6 155.6 116.5 128.0 209.8 204.7 145.1 195.8 185.7 162.6 106.1 52.3 118.0 169.2 143.0 94.3 140.3 91.1 73.0 59.0 131.0 103.8 136.1 87.4 115.4 86.8 110.1 63.4 84.6 (6.9) (4.0) (92.1) (37.1) 28.2 26.5
Income Tax Expense 18.2 77 91 84 8 74.3 29.6 51.3 70.4 48.9 69.1 66.0 104.2 93.3 101.9 97.5 97.5 73.1 64.5 52.5 52.5 48 48 52.5 52.5 37.5 37.5 59 59 57 57 60.5 60.5 52.0 49.3 38.9 38.5 41.2 56.1 65.6 43.1 61.6 59.6 49.4 31.4 22.5 22.8 62.8 52.3 7.1 60.7 33.8 30.7 (31.9) 30.8 38.0 54.7 (28.1) 40.7 29.3 69.2 (11.0) 33.1 19.0 18.8 34.9 20.1 13.2 10.6
Net Income 56.5 97 246 (28) 384 140.9 (134.7) 123.2 177.0 43.5 216.6 244.7 259.1 220.0 240.4 287 287 211.5 185.5 154 154 134 134 138.5 138.5 72 72 166 166 (470) (470) 147 147 76.8 124 43.1 6.7 99 132 122 87.3 123 108 98 71 26 73 77 89.4 86.9 74.2 53.3 42.3 86.6 93.7 65.8 77.4 105.4 67.9 51.9 48.0 67.9 44.9 (26.2) (20.1) (129.4) (66.4) 10.4 10.6
Per Share Data
EPS (Basic) 0.13 0.19 0.47 -0.05 0.74 0.31 -0.27 0.48 0.69 0.17 0.89 0.95 1.00 0.85 0.93 1.11 1.11 0.82 0.72 0.60 0.60 0.56 0.56 0.58 0.58 0.30 0.30 0.70 0.70 -1.99 -1.99 0.62 0.62 0.50 0.53 0.41 0.31 0.42 0.56 0.52 0.37 0.53 0.46 0.42 0.31 0.11 0.33 0.34 0.28 0.27 0.24 0.18 0.15 0.25 0.31 0.24 0.26 0.41 0.23 0.16 0.15 0.24 0.16 -0.10
EPS (Diluted) 0.12 0.18 0.47 -0.05 0.73 0.31 -0.27 0.48 0.68 0.23 0.88 0.94 1.00 0.84 0.92 1.10 1.10 0.80 0.71 0.60 0.60 0.55 0.55 0.58 0.58 0.30 0.30 0.70 0.70 -1.99 -1.99 0.62 0.62 0.50 0.53 0.41 0.31 0.42 0.56 0.52 0.37 0.52 0.46 0.42 0.31 0.11 0.33 0.34 0.28 0.26 0.24 0.18 0.15 0.24 0.31 0.24 0.26 0.40 0.23 0.15 0.15 0.23 0.16 -0.10
Shares Outstanding 510.5 520.9 522 522 521 453.5 508 258.8 259 258 258 260.4 260.2 257.4 262.2 258 259.8 257.1 261.8 257 258.4 240.6 245.0 237 238.0 237.9 237.9 237.5 237.5 236.0 236.0 237.5 237.5 237.9 236.6 237.1 236.4 235.0 236.1 236.4 234.4 236.6 235.8 234.4 233.6 228.0 230.3 230.5 227 229 229 231.6 228 231.1 223 222.2 222 222 222 222 221 219 218 218 0 0 0 0 0
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 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 Q3 2010 Q2 2010 Q1 2009 Q4 2009 Q2 2009 Q1
Current Assets
Cash & Cash Equivalents 674 892 851 778 797 855 951 3,103.9 751.6 1,000 668.3 0 833.3 858.2 503.5 482 983.9 855 739.0 621 1,095.9 891 718.7 639 211.7 189 266.1 234 465.6 407 1,215.2 1,051 635.8 589 515.9 567 458.5 487.6 321.5 353 295.9 556.9 797.4 922.7 910.5 944.6
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 18.1 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 4,644 4,268 4,846 5,034 4,548 4,117 4,613 1,849.3 1,827.5 1,806 0 0 1,901.4 2,077.7 2,801 2,801 1,786.6 1,788 1,901 1,901 1,337 1,337 1,585 1,585 1,402 1,402 1,845 1,845 1,443 1,443 1,789 1,789 1,870.8 1,924.6 1,850.0 1,717.7 1,307 1,705.9 1,782.0 1,740.1 1,692.2 1,646.3 0 1,082.3 0 0
Inventory 3,583 3,693 3,781 3,774 3,670 3,550 3,585 1,105.3 1,088.9 1,203 1,219.3 0 1,330.8 1,381.8 1,365.3 1,296 1,195.6 1,046 1,032.9 860 964.3 773 947.0 832 929.7 819 985.8 856 981.5 847 960.8 819 1,018.5 942.9 891.1 868.8 829.8 858.2 833.1 838.7 825.9 770.1 816.2 839.6 796.9 800
Other Current Assets 1,651 1,586 1,405 1,393 1,615 1,533 1,396 547.0 515.2 427.3 2,687.5 (775.3) 636.9 603.1 161.5 46 543.5 280 387.4 30 511.6 177 238.1 46 384.7 204 280.0 35 412.4 190 308.4 37 28.3 17.4 23.8 10.3 256.9 18.4 27.8 13.2 28.2 13.3 1,641.9 483.7 1,669.6 1,589.4
Total Current Assets 10,552 10,439 10,883 10,979 10,630 10,055 10,545 6,605.4 4,183.1 4,570 4,575.2 0 4,835.4 4,920.9 4,831.2 4,625 4,624.0 4,070 4,060.4 3,412 4,007.2 3,258 3,488.7 3,102 3,002.1 2,680 3,376.9 2,970 3,380.2 2,955 4,273.3 3,696 3,553.5 3,576.5 3,280.8 3,202.6 2,852.2 3,120.0 2,964.4 2,992.0 2,842.3 2,986.5 3,255.5 3,361.2 3,377.0 3,334.0
Non-Current Assets
Property, Plant & Equipment 22,900 23,232 23,050 23,097 22,792 22,675 23,206 5,205.2 5,273.8 6,165 5,642.4 0 5,336.3 5,450.5 5,026.6 4,925 5,243.3 4,714 4,870.8 4,198 5,104.3 4,257 4,611.1 4,196 4,778.7 4,372 4,610.5 4,158 4,132.9 3,713 3,652.4 3,277 3,889.4 3,750.3 3,650.3 3,515.7 3,429.6 3,510.4 3,432.7 3,496.3 3,334.0 3,700.6 3,987.2 4,523.2 4,195.0 3,969.5
Goodwill 7,186 7,218 7,213 7,207 6,969 6,822 7,215 2,573.7 2,573.4 2,842 0 0 2,632.7 2,777.8 0 0 2,843.0 2,511 0 0 2,883.0 2,344 0 0 2,669.4 2,383 0 0 2,700.8 2,361 0 0 2,740.1 0 0 0 2,416.8 0 0 0 0 2,722.1 2,954.8 0 3,013.6 2,832.5
Intangible Assets 1,036 1,059 1,075 1,107 1,141 1,117 1,094 193.2 199.2 218 0 0 232.7 235.7 2,760 2,760 238.9 211 2,556 2,556 255.8 208 2,572 2,572 261.0 233 2,672 2,672 262.0 229 2,382 2,382 171.6 2,853.8 2,767.0 2,670.7 189.3 2,468 2,488 2,484 2,353 0 0 3,183.6 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 26 26 24.0 24 23 23 23 23 22 22 26 26 36 36 34 34 35 35 34 62.2 37 38 38 38 99.0 97.3 39 14.8 0 49.0 0 0
Other Non-Current Assets 3,496 3,209 3,348 3,356 3,117 3,090 2,969 575.0 576.4 (537.1) 474.3 0 197.3 230.6 349.9 219 128.9 177 646.0 186 171.3 200 464.0 249 173.4 231 533.6 189 174.2 201 564.8 172 174.7 103.9 165.5 193.9 196.5 481.6 396.3 451.5 460.4 189.9 185.3 26.9 197.8 179.1
Total Non-Current Assets 34,618 34,718 34,686 34,767 34,019 33,704 34,484 8,547.1 8,622.9 9,481 8,937.4 0 8,550.2 8,694.7 8,283.6 7,930 8,646.8 7,637 8,286.1 6,963 8,649.0 7,032 7,916.5 7,039 8,115.6 7,245 8,021.5 7,055 7,478.8 6,538 6,782.3 5,866 7,249.8 6,994.5 6,846.5 6,612.6 6,470.1 6,722.3 6,630.6 6,742.1 6,415.9 6,977.1 7,493.7 8,183.9 7,765.6 7,318.1
Total Assets 45,170 45,157 45,569 45,746 44,649 43,759 45,029 15,152.6 12,806.1 14,051 13,512.6 0 13,385.7 13,615.5 13,114.9 12,555 13,254.9 11,707 12,346.5 10,375 12,656.2 10,290 11,405.3 10,141 11,117.7 9,925 11,398.4 10,025 10,859.1 9,493 11,055.6 9,562 10,803.3 10,571.0 10,127.3 9,815.2 9,322.3 9,842.3 9,595.0 9,734.1 9,258.2 9,963.7 10,749.2 11,545.1 11,142.6 10,652.1
Current Liabilities
Account Payables 3,344 3,597 3,257 3,380 3,171 3,290 3,357 1,442.3 1,404.9 1,728 2,500.6 0 1,512.1 1,969.6 2,954.1 2,828 1,606.6 1,419 2,387.2 2,006 1,202.9 978 1,987.3 1,767 1,141.5 1,019 2,083.0 1,832 1,218.3 1,065 2,149.4 1,859 1,272.9 2,065.4 1,965.3 1,846.6 1,068.5 1,876.9 1,867.6 1,889.3 1,911.7 1,626.7 1,684.8 981.4 1,637.3 1,631.8
Short-Term Debt 980 346 798 1,034 1,300 1,053 745 361.3 316.9 191 0 0 86.9 94.9 186 186 73.9 74 153 153 71 71 174 174 110 110 531 531 168 168 188 188 676 793.3 229.3 241.7 144.5 163.0 117.8 102.6 86 176.7 222.9 190.6 202.0 203.0
Deferred Revenue 0 0 5 5 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 Current Liabilities 2,990 2,520 2,312 2,300 2,974 2,990 2,211 705.7 697.8 649 345.6 0 1,035.8 458.2 115.9 133 942.4 306 244.5 196 1,013.2 370 188.1 167 786.5 313 127.2 80 670.8 221 71.0 67 711.3 45.1 49.9 61.8 491.8 35.6 36.9 44.8 59.2 90.2 153.0 677.7 113.6 95.5
Total Current Liabilities 7,314 7,064 7,345 7,591 7,445 7,333 7,126 2,870.5 2,790.3 3,006 2,910.3 0 3,246.1 3,319.7 3,287.3 3,147 3,200.8 2,827 2,802.5 2,355 2,742.8 2,230 2,370.8 2,108 2,481.2 2,215 2,861.8 2,517 2,427.4 2,122 2,444.2 2,114 3,025.6 2,956.5 2,286.7 2,193.9 2,007.7 2,108.0 2,066.7 2,091.0 2,082.7 1,933.8 2,113.1 2,159.1 1,979.6 1,964.8
Non-Current Liabilities
Long-Term Debt 0 13,427 13,313 13,329 12,919 12,542 13,174 5,617.8 3,086.8 3,643 3,594 0 3,306.0 3,612.6 0 3,229 3,297.4 3,300 0 2,699 2,859 2,859 0 3,368 0 3,202 0 3,105 3,358 3,358 0 3,749 0 2,789 3,698.8 0 3,246 3,702.9 3,312.4 3,318 0 4,390.3 4,819.5 5,104.9 5,147.6 4,969.8
Deferred Tax Liabilities 3,410 3,297 3,455 3,482 3,608 3,600 3,682 0 0 280 188 0 203.8 0 201.6 0 198.1 0 204.7 0 234.9 0 238.4 0 196.0 0 186.5 0 197.9 0 93.7 0 177.6 144.5 141.0 180.6 411.1 167.2 156.9 152.4 149.7 388.7 418.9 465.6 444.7 425.9
Other Non-Current Liabilities 16,363 3,015 2,997 3,020 2,788 2,897 3,055 1,093.1 1,113.0 653 959.5 (4,925.7) 4,505.1 941.9 4,342.4 758 4,856.1 899 4,549.5 983 4,999.8 1,155 5,333.2 1,241 5,067.7 1,216 5,030.1 1,213 4,907.3 1,106 5,459.6 1,071 4,387.3 987.6 969.3 4,572.6 1,013.1 1,063.3 1,031.5 970.6 4,557.1 1,024.8 1,040.4 1,157.7 1,055.1 1,022.9
Total Non-Current Liabilities 19,773 19,739 19,765 19,831 19,315 19,039 19,911 6,736.1 4,224.8 4,871 4,766.5 (4,925.7) 4,736.8 4,843.3 4,567.0 4,372 5,081.4 4,488 4,779.1 4,016 5,260.5 4,277 5,589.6 4,970 5,283.9 4,717 5,237.0 4,606 5,125.8 4,481 5,572.9 4,820 4,587.7 3,910 4,366 4,768.2 4,682.2 4,538 4,516 4,434 4,721.3 5,803.7 6,278.8 6,728.2 6,647.4 6,418.6
Total Liabilities 27,087 26,803 27,110 27,422 26,760 26,372 27,037 9,606.6 7,015.1 7,877 7,676.8 (4,925.7) 7,982.9 8,163.0 7,854.3 7,519 8,282.2 7,315 7,581.6 6,371 8,003.3 6,507 7,960.4 7,078 7,765.0 6,932 8,098.8 7,123 7,553.2 6,603 8,017.1 6,934 7,613.3 7,547.5 7,281.2 6,962.0 6,689.9 7,199.1 7,090.0 7,116.1 6,804.1 7,737.5 8,391.8 8,887.3 8,627.0 8,383.4
Stockholders' Equity
Common Stock 1 1 1 1 1 1 1 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
Retained Earnings 2,397 2,655 2,787 2,771 3,030 2,950 3,178 3,275.7 3,439.9 3,521 2,577.8 0 2,298.1 3,150.3 2,091.3 2,002 1,667.8 1,473 1,340.0 1,126 1,127.9 917 1,005.5 894 688.9 615 624.2 549 480.4 420 1,563.2 1,352 1,442.0 1,271.6 1,114.2 1,070.8 897.1 848.1 709.7 757.1 572.7 (832.2) (883.4) (958.5) (984.9) (964.5)
Accumulated Other Comprehensive Income (401) (348) (347) (428) (1,079) (1,446) (1,011) (999.8) (880.4) (847) 0 4,911.9 0 (1,233.8) 0 440 0 319 0 278 0 256 0 218 0 393 0 375 0 383 0 (826) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Stockholders' Equity 18,058 18,327 18,433 18,297 17,864 17,360 17,965 5,531.0 5,776.1 6,158 5,821.7 4,925.7 5,388.8 5,437.2 5,247.0 5,023 4,958.0 4,379 4,749.4 3,991 4,636.9 3,770 3,429.1 3,049 3,306.7 2,952 3,256.4 2,864 3,156.0 2,759 2,868.5 2,481 3,008.9 2,850.9 2,680.3 2,672.6 2,449.4 2,459.2 2,332.6 2,449.1 2,302.2 2,006.9 2,126.5 2,401.3 2,303.7 2,081.6
Total Liabilities & Equity 45,170 45,157 45,569 45,746 44,649 43,759 45,029 15,152.6 12,806.1 14,051 13,512.6 0 13,385.7 13,615.5 13,114.9 12,555 13,254.9 11,707 12,346.5 10,375 12,656.2 10,290 11,405.3 10,141 11,117.7 9,925 11,398.4 10,025 10,859.1 9,493 11,055.6 9,562 10,803.3 10,571.0 10,127.3 9,815.2 9,322.3 9,842.3 9,595.0 9,734.1 9,258.2 9,963.7 10,749.2 11,545.1 11,142.6 10,652.1
Debt Metrics
Total Debt 980 13,773 14,111 14,363 14,219 13,595 13,919 6,004.3 3,428.8 4,129 3,790 0 3,743.1 4,090.2 0 3,800 3,751.0 3,754 0 3,186 3,276 3,276 0 3,903 3,689 3,689 0 3,998 3,545 3,545 0 3,937 3,354 3,460 3,928.1 3,517 3,400 3,865.9 3,418.4 3,408 3,224 4,566.9 5,042.4 5,295.4 5,349.6 5,172.8
Net Debt 306 12,881 13,260 13,585 13,422 12,740 12,968 2,900.4 2,677.2 3,129 (668.3) 0 2,909.8 3,231.9 (503.5) 3,318 2,767.1 2,899 (739.0) 2,565 2,180.1 2,385 (718.7) 3,264 (211.7) 3,500 (266.1) 3,764 3,079.4 3,138 (1,215.2) 2,886 (635.8) 2,871 3,412.1 2,950 2,941.5 2,956.6 3,096.9 3,055 (295.9) 4,010.1 4,244.9 4,372.7 4,439.1 4,228.2
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 63 252 245 (26) 382 146 (150) 132 191 389.2 216.6 244.7 259.1 348.4 240.4 287 287 379.8 185.5 312.8 154 134 134 138.5 138.5 72 72 166 166 (470) (470) 147 147 203.8 207.0 163.8 116.5 128.0 212.8 202.0 145.1
Depreciation & Amortization 728 675 659 613 603 593 564 160 148 271.9 95.3 305.2 75.4 306.0 135.2 318.4 152.5 286.6 140 277.3 136.5 142 142 136.5 136.5 141 141 129.5 129.5 112 112 97.5 97.5 133.5 119.9 118.6 107.9 98.9 109.5 101.5 107.7
Stock-Based Compensation 28 25 35 36 43 0 123 16 15 24.4 6.6 17.4 15.7 17.6 19.2 0 15.5 23.6 20.5 14 14 13 13 5.5 5.5 8 8 12.5 12.5 7 7 5 5 13.5 4.9 4.9 4.3 (3.1) 4.6 5.5 5.7
Change in Working Capital (580.0) 418.4 171 166 (737) 29.8 (105) 38 (303) 265.4 181.8 3 (37.8) 198.0 216.3 (388) (388) (59.4) (256) (235.6) (212) 41.5 41.5 (30) (30) 159 159 (84.5) (84.5) 64 64 (170) (170) 7.8 3.3 (58.6) (84.4) 23.4 56.8 (66.9) (112.2)
Other Non-Cash Items 1.0 (124.4) 35 138 (27) 19.1 (23) 2 (7) (222.1) (167.4) 2.4 (69.8) 62.1 (98.0) 239.8 151 (5.1) 221.5 2.2 89 413.5 37 5.5 5.5 (20.5) (20.5) (1.5) (1.5) 626 626 98 98 (107.4) (101.1) (97.7) (4.3) (30.2) (88.5) (98.0) (32.9)
Operating Cash Flow 204 1,195 1,133 829 235 752.9 320 340 42 553.4 332.9 572.7 242.5 932.0 513.0 457.2 218 625.4 311.5 370.7 181.5 744.0 367.5 502.0 256 359.5 359.5 222 222 339 339 177.5 177.5 251.1 251.5 131 140.0 217.0 295.1 150.8 113.3
Investing Activities
Capital Expenditure (624) (583) (610) (522) (477) (539.0) (512) (177) (208) (242.8) (199.1) (421.1) (216.6) (405.6) (265.4) (444.7) (209) (380.8) (183) (237.6) (114) (265.9) (123.5) (249.6) (123) (165) (165) (141) (141) (154.5) (154.5) (109.5) (109.5) (176.1) (113.7) (125.0) (134.6) (103.7) (115.4) (131.4) (112.2)
Acquisitions 0 0 0 (1) (4) 59.7 (688) (28) 0 (3.6) (24.7) (3.0) 7.2 (51.0) (32.1) (37.6) (23) (392.5) (196.5) (15.2) (27.5) (1.3) (0.5) (19.6) (0.5) 0 0 (56.5) (56.5) (241.5) (241.5) 0 0 (11.8) (48.1) 8.7 (6.4) 2.8 0.7 (10.5) (35.1)
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 0
Sales/Maturities 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 (1.2) 0.0 0 0 (0.9) 0.1 0 0
Other Investing Activities (3) 4 42 3 5 6.8 15 2 1 200.5 (2.1) 2.0 (399.9) 5.6 7.2 252.3 2 4.1 3 126.9 15.5 4.8 (1.5) 0 0 (3) (3) (2) (2) (6.5) (6.5) (12.5) (12.5) 22.1 44.3 20.7 6.4 (9.8) 18.5 22.5 0
Investing Cash Flow (627) (579) (568) (520) (476) (472.5) (1,185) (203) (207) (230.1) (225.9) (422.1) (214.8) (451.0) (290.3) (230) (230) (769.2) (376.5) (126) (126) (262.4) (125.5) (269.1) (123.5) (168) (168) (199.5) (199.5) (402.5) (402.5) (122) (122) (156.0) (115) (91) (133.6) (108.1) (92.6) (115) (145.1)
Financing Activities
Net Debt Issuance 514.0 0 (244) (126) 444 1,285.9 (1,319) 2,747 27 (119.0) (22.9) (25) (145.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (104.3) 12.4 1.8 154.9 (110.9) (3.4) 27.1 100.9
Stock Repurchased 0 0 0 0 0 0.7 0 0 (27) (1.0) (0.3) 2 (27.7) (22.2) (24.2) (13.5) (13.5) (2.6) 0 (11) (11) (1.0) 0 (8) (8) 2 0 (12.5) (12.5) 0 0 (5) (5) 0.9 (0.3) (0.8) (11.8) 0.7 (0.1) 0.2 (11.3)
Dividends Paid (237) (189.0) (225) (225) (225) (142.7) (158) (335) 0 (85.8) 5.3 (277.4) (47.5) (48.5) (53.0) (125) (125) (56.9) (38) (113) (113) (130) (130) 0 0 (33) (33) (86) (86) (30) (30) (76.5) (76.5) (69.5) (4.1) (136) 0 (47.8) (1.1) (113) 0
Other Financing Activities (82.0) (435.0) (1) (4) (68) (1,423.7) (36) (30) 0 114.3 0.8 (2.6) 166.8 (64.5) 20.4 (24.5) (24.5) 323.1 221 (66) (66) (87.5) 9 201.8 97 (174.5) (172.5) (10.5) (10.5) (222.5) (222.5) 299 299 21.9 (2.9) (21.0) (7.5) 14.7 (0.3) (4.3) (1.1)
Financing Cash Flow 209 (624) (470) (355) 151 (279.8) (1,513) 2,382 0 (91.5) (17.2) (303) (26.7) (135.2) (56.8) (163) (163) 263.6 183 (190) (190) (217.5) (121) 193.8 89 (205.5) (205.5) (109) (109) (252.5) (252.5) 217.5 217.5 (150.9) 5 (156) 136.8 (143.2) (4.8) (90) 88.4
Cash Position
Net Change in Cash (218) 41 73 (19) (58) (96) (2,374) 2,514 (189) 254.8 70.4 (155.9) 28.6 304.5 (474) 366.7 (865.4) (551.9) (605) 557.2 0 (515.3) (627) 426.7 0 0 (212) 212 0 0 (1,029) 1,029 (503) (50.0) 135 (116) 151.7 (76.3) 184.4 (64) 85.0
Cash at Beginning 892 851 778 797 855 951 3,325 811 1,000 689.6 658.6 771.1 771 477.0 474 123.9 865.4 666.2 605 79.4 76.9 592.3 627 218.0 0 0 212 0 0 0 1,029 0 503 661.1 489.6 581.3 429.6 489.1 304.8 383.1 298.1
Cash at End 674 892 851 778 797 855 951 3,325 811 908.4 729 615.2 771.1 781.5 0 490.6 0 114.3 0 636.6 79.4 76.9 0 644.6 0 0 0 212 0 0 0 1,029 0 603.5 661.1 489.6 581.3 422.8 489.1 304.8 383.1
Free Cash Flow (420) 612 523 307 (242) 213.9 (192) 163 (166) 310.7 133.8 151.6 25.8 526.4 247.6 12.5 9 244.6 128.5 133.0 67.5 478.1 244 252.5 133 194.5 194.5 81 81 184.5 184.5 68 68 132.9 169.0 34.7 5.3 101.7 179.7 26.7 1.1
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 2009 Q3 2009 Q2 2009 Q1
Income Statement
Revenue 6,700.3 7,580 8,003 7,940 7,656 7,277.4 6,889.3 2,771.6 2,715.2 2,592.4 2,757.3 2,818.8 2,987.0 3,384.4 3,698.3 3,192.5 3,192.5 3,097.2 2,714 2,339.5 2,339.5 2,163.5 2,163.5 2,101.5 2,101.5 2,213 2,213 2,311 2,311 2,259 2,259 2,214 2,214 2,811.2 2,490.4 2,406.9 2,275.1 1,738.5 2,299.9 2,279.2 2,267.8 2,091.9 2,277.4 2,281.3 2,124.7 2,247.3 2,572.1 2,749.1 2,657.1 2,993.8 2,720.4 2,626.7 2,419.1 2,625.7 2,349.7 2,351.0 2,431.9 2,013.8 2,537.1 2,767.4 2,545.7 2,164.3 2,785.0 1,876.9 2,054.0 2,063.7 2,402.6 2,168.7 2,043.1
Gross Profit 1,101.7 1,382 1,569 1,515 1,577 1,172.8 1,416.3 646.9 658.0 635.0 701.9 722.1 758.7 611.2 667.9 1,001 1,001 82.2 819.5 726.5 726.5 732.5 732.5 704.5 704.5 736 736 766.5 766.5 756.5 756.5 722 722 866.0 763.2 702.4 648.6 530.1 697.8 700.8 668.7 639.3 681.9 687.5 622.7 640.4 760.1 828.1 788.1 855.0 816.4 763.7 673.6 727.9 686.9 671.0 701.7 559.8 714.4 760.8 715.8 593.3 791.4 509.2 569.2 529.1 648.1 587.6 605.0
Operating Income 266.7 462 606 552 604 387.1 49.4 227.8 284.5 163.0 334.8 361.1 409.3 343.3 375.2 419.5 419.5 330.0 298 238.5 238.5 220.5 220.5 225 225 163 163 279 279 270.5 270.5 249 249 282.2 253.6 217.3 179.5 173.9 245.7 234.7 202.9 218.1 219.4 197.4 137.5 123.7 230.9 264.7 220.1 253.7 263.1 192.5 161.4 178.5 231.1 196.2 234.8 165.7 220.0 196.4 207.6 144.7 216.5 84.8 98.0 66.2 77.8 129.7 108.8
Net Income 56.5 97 246 (28) 384 140.9 (134.7) 123.2 177.0 43.5 216.6 244.7 259.1 220.0 240.4 287 287 211.5 185.5 154 154 134 134 138.5 138.5 72 72 166 166 (470) (470) 147 147 76.8 124 43.1 6.7 99 132 122 87.3 123 108 98 71 26 73 77 89.4 86.9 74.2 53.3 42.3 86.6 93.7 65.8 77.4 105.4 67.9 51.9 48.0 67.9 44.9 (26.2) (20.1) (129.4) (66.4) 10.4 10.6
EPS (Diluted) 0.12 0.18 0.47 -0.05 0.73 0.31 -0.27 0.48 0.68 0.23 0.88 0.94 1.00 0.84 0.92 1.10 1.10 0.80 0.71 0.60 0.60 0.55 0.55 0.58 0.58 0.30 0.30 0.70 0.70 -1.99 -1.99 0.62 0.62 0.50 0.53 0.41 0.31 0.42 0.56 0.52 0.37 0.52 0.46 0.42 0.31 0.11 0.33 0.34 0.28 0.26 0.24 0.18 0.15 0.24 0.31 0.24 0.26 0.40 0.23 0.15 0.15 0.23 0.16 -0.10
Balance Sheet
Cash & Equivalents 674 892 851 778 797 855 951 3,103.9 751.6 1,000 668.3 0 833.3 858.2 503.5 482 983.9 855 739.0 621 1,095.9 891 718.7 639 211.7 189 266.1 234 465.6 407 1,215.2 1,051 635.8 589 515.9 567 458.5 487.6 321.5 353 295.9 556.9 797.4 922.7 910.5 944.6
Total Assets 45,170 45,157 45,569 45,746 44,649 43,759 45,029 15,152.6 12,806.1 14,051 13,512.6 0 13,385.7 13,615.5 13,114.9 12,555 13,254.9 11,707 12,346.5 10,375 12,656.2 10,290 11,405.3 10,141 11,117.7 9,925 11,398.4 10,025 10,859.1 9,493 11,055.6 9,562 10,803.3 10,571.0 10,127.3 9,815.2 9,322.3 9,842.3 9,595.0 9,734.1 9,258.2 9,963.7 10,749.2 11,545.1 11,142.6 10,652.1
Total Debt 980 13,773 14,111 14,363 14,219 13,595 13,919 6,004.3 3,428.8 4,129 3,790 0 3,743.1 4,090.2 0 3,800 3,751.0 3,754 0 3,186 3,276 3,276 0 3,903 3,689 3,689 0 3,998 3,545 3,545 0 3,937 3,354 3,460 3,928.1 3,517 3,400 3,865.9 3,418.4 3,408 3,224 4,566.9 5,042.4 5,295.4 5,349.6 5,172.8
Stockholders' Equity 18,058 18,327 18,433 18,297 17,864 17,360 17,965 5,531.0 5,776.1 6,158 5,821.7 4,925.7 5,388.8 5,437.2 5,247.0 5,023 4,958.0 4,379 4,749.4 3,991 4,636.9 3,770 3,429.1 3,049 3,306.7 2,952 3,256.4 2,864 3,156.0 2,759 2,868.5 2,481 3,008.9 2,850.9 2,680.3 2,672.6 2,449.4 2,459.2 2,332.6 2,449.1 2,302.2 2,006.9 2,126.5 2,401.3 2,303.7 2,081.6
Cash Flow
Operating Cash Flow 204 1,195 1,133 829 235 752.9 320 340 42 553.4 332.9 572.7 242.5 932.0 513.0 457.2 218 625.4 311.5 370.7 181.5 744.0 367.5 502.0 256 359.5 359.5 222 222 339 339 177.5 177.5 251.1 251.5 131 140.0 217.0 295.1 150.8 113.3
Capital Expenditure (624) (583) (610) (522) (477) (539.0) (512) (177) (208) (242.8) (199.1) (421.1) (216.6) (405.6) (265.4) (444.7) (209) (380.8) (183) (237.6) (114) (265.9) (123.5) (249.6) (123) (165) (165) (141) (141) (154.5) (154.5) (109.5) (109.5) (176.1) (113.7) (125.0) (134.6) (103.7) (115.4) (131.4) (112.2)
Free Cash Flow (420) 612 523 307 (242) 213.9 (192) 163 (166) 310.7 133.8 151.6 25.8 526.4 247.6 12.5 9 244.6 128.5 133.0 67.5 478.1 244 252.5 133 194.5 194.5 81 81 184.5 184.5 68 68 132.9 169.0 34.7 5.3 101.7 179.7 26.7 1.1