Texas Capital Bancshares, Inc. logo TCBI - Texas Capital Bancshares, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 10
HOLD 24
SELL 5
STRONG
SELL
0
| PRICE TARGET: $106.17 DETAILS
HIGH: $114.00
LOW: $100.00
MEDIAN: $104.50
CONSENSUS: $106.17
UPSIDE: 5.95%
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 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2
Revenue
Revenue 488.4 504.4 529.2 493.6 471.7 491.6 337.8 472.5 458.7 448.2 472.6 447.9 422.6 400.4 347.4 268.6 228.8 251.3 239.0 242.2 254.5 282.2 291.8 302.4 301.4 352.6 367.2 365.2 350.2 334.4 323.1 299.8 270.0 261.7 252.7 224.3 199.3 207.5 198.6 185.8 171.0 166.1 165.2 166.1 153.2 149.1 145.7 135.3 127.0 129.1 125.6 118.4 115.5 120.6 112.6 106.0 102.3 102.0 90.9 83.2 77.8 84.6 80.7 75.5 71.3 72.9 69.3 67.4 62.7 64.8 67.1 67.0 72.5 78.9 80.8 77.7 72.3 72.9 67.3 61.4 54.4 55.2 46.4 43.9 38.4 36.3 32.5 28.2 27.6 25.2 24.2 48.3 8.6 10.8 12.2 12.3 14.6 11.4 9.1
Cost of Revenue 180.4 176.9 200.8 201.2 208.3 226.0 222.4 225.5 221.4 221.4 211.7 176.9 177.8 157.7 95.0 58.8 23.0 15.9 31.1 8.5 22.3 64.2 66.2 142.1 173.7 106.4 113.9 130.3 109.9 116.0 82.6 82.1 55.6 40.9 53.3 38.2 29.6 26.4 37.8 31.4 45.0 26.6 25.6 25.6 21.9 16.8 16.1 13.4 13.3 11.5 11.4 13.0 8.1 11.1 8.2 5.9 7.9 10.8 11.1 12.2 13.1 21.5 23.5 24.1 22.6 20.5 24.1 22.2 23.1 31.2 28.0 30.8 34.0 45.8 41.6 39.4 36.7 35.7 33.5 30.7 23.8 20.7 17.9 14.7 12.5 11.3 10.0 8.2 8.4 8.3 10.3 9.6 7.1 8.9 10.7 11.1 14.3 10.7 8.5
Gross Profit 308.0 327.5 328.4 292.5 263.5 265.7 115.3 247.0 237.3 226.8 260.9 271.0 244.7 242.7 252.4 209.8 205.8 235.5 207.9 233.7 232.2 218.0 225.6 160.3 127.7 246.2 253.3 234.9 240.2 218.4 240.5 217.6 214.4 220.8 199.5 186.0 169.7 181.1 160.8 154.4 126.0 139.5 139.7 140.6 131.3 132.3 129.6 121.9 113.7 117.7 114.2 105.3 107.3 109.5 104.4 100.1 94.4 91.1 79.8 71.0 64.7 63.1 57.2 51.4 48.7 52.4 45.2 45.2 39.6 33.7 39.2 36.1 38.5 33.1 39.2 38.3 35.6 37.3 33.8 30.8 30.6 34.4 28.4 29.2 25.8 25.0 22.5 20.0 19.2 16.9 13.9 38.7 1.5 1.9 1.5 1.3 0.3 0.7 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 0 0 0 0 0 0 0 0 0 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 149.2 114.3 128.2 128.9 142.0 106.8 131.9 130.4 143.2 138.8 120.5 123.1 139.9 68.4 141.0 115.2 108.8 114.5 122.5 108.3 111.8 103.9 125.2 158.1 104.6 112.5 110.9 106.1 103.9 94.0 101.5 96.0 94.0 91.9 87.3 85.8 80.5 83.6 74.0 71.7 67.0 64.6 62.3 62.0 58.9 56.6 54.9 50.6 52.5 52.7 48.0 53.3 41.7 31.6 38.7 36.1 34.3 27.3 33.9 31.4 31.2 32.2 32.0 26.9 24.6 21.7 22.7 23.5 19.2 18.9 16.6 16.0 16.0 12.9 15.9 15.5 15.3 15.3 13.2 13.4 12.5 14.8 10.9 12.8 12.2 11.5 9.2 8.3 8.4 6.8 6.1 5.5 4.0 (11.5) 3.8 0.1 (6.5) 3.8 3.6
Other Expenses 64.4 69.9 62.4 61.4 61.0 65.4 63.4 58.0 59.2 62.6 59.4 58.5 54.1 (103.8) 56.0 49.1 44.3 32.1 28.1 28.4 25.5 31.1 28.2 43.6 44.5 43.2 29.8 28.6 31.1 33.3 30.4 31.7 29.2 34.0 23.6 23.3 23.9 22.9 20.2 21.9 19.8 22.4 19.4 19.3 17.6 17.5 17.0 19.2 16.9 17.6 14.0 15.4 14.0 28.5 14.8 17.8 18.0 23.0 12.3 13.9 15.2 12.4 10.6 12.2 12.5 21.1 14.4 11.9 11.1 9.6 11.1 11.2 10.3 10.3 10.0 9.9 8.8 9.8 8.4 7.8 7.6 8.0 6.2 6.4 5.6 4.4 5.4 5.2 4.9 4.8 10.8 30.6 (5.0) 11.3 (3.5) 0.6 12.8 (0.1) 1.5
Operating Expenses 213.6 184.2 190.6 190.3 203.0 172.2 195.3 188.4 202.4 201.4 179.9 181.6 194.0 (35.4) 197.0 164.3 153.1 146.6 150.6 136.7 137.3 135.0 153.5 202.2 149.1 155.7 141.3 135.7 135.0 127.3 131.9 127.8 123.2 126.0 110.9 109.1 104.3 106.5 94.2 93.6 86.7 87.0 81.7 81.3 76.5 74.1 71.9 69.8 69.3 70.3 62.0 68.7 55.7 60.1 53.5 54.0 52.3 50.4 46.2 45.3 46.4 44.6 42.6 39.1 37.2 42.8 37.1 35.4 30.3 28.4 27.7 27.3 26.3 23.2 25.9 25.4 24.1 25.1 21.6 21.2 20.1 22.7 17.1 19.2 17.9 15.9 14.6 13.5 13.3 11.6 16.9 36.1 (1.0) (0.2) 0.3 0.7 6.3 3.7 5.1
Operating Income
Operating Income 94.4 143.3 137.8 102.2 60.5 93.5 (80.0) 58.6 34.9 25.5 81.1 89.4 50.7 278.2 55.4 45.5 52.7 88.8 57.3 97.0 94.8 83.0 72.2 (41.9) (21.3) 90.5 112.0 99.2 105.2 91.1 108.5 89.9 91.3 94.9 88.5 76.9 65.4 74.5 66.7 60.7 39.3 52.5 58.0 59.3 54.8 58.2 57.6 52.2 44.4 47.4 52.2 36.6 51.6 49.4 50.9 46.1 42.1 40.8 33.6 25.8 18.3 18.6 14.6 12.3 11.5 9.6 8.1 9.8 9.3 5.2 11.5 8.9 12.3 9.9 13.3 12.8 11.5 12.2 12.2 9.6 10.5 11.7 11.3 10.0 8.0 9.1 7.9 6.5 5.9 5.3 (3.0) 2.6 2.4 2.1 1.2 0.5 (6.0) (3) (4.6)
Interest Expense 164.4 176.9 188.8 186.2 191.3 208.0 212.4 205.5 202.4 202.4 193.7 169.9 149.8 123.7 83.0 36.8 25.0 25.9 26.1 27.5 28.3 32.2 36.2 42.1 77.7 89.4 102.9 103.3 89.9 81.0 69.6 55.1 43.6 38.9 33.3 25.2 20.6 17.4 15.8 15.4 15.0 12.6 11.8 11.1 10.9 10.3 9.6 9.4 8.3 6.5 6.4 6.0 6.1 6.6 5.2 4.9 4.9 4.8 4.1 4.2 5.6 9.5 10.0 9.6 9.1 10.0 10.6 11.2 14.6 20.2 24.0 22.8 30.2 36.5 39.6 37.9 35.5 34.7 32.7 28.4 23.8 20.7 17.9 14.7 12.5 11.1 9.6 7.8 7.6 7.6 8.7 8.3 6.3 7.0 9.4 10.2 11.2 9.7 7.2
Interest Income 419.1 444.3 460.6 439.6 427.3 437.6 452.5 422.1 417.4 417.1 425.8 401.9 385.2 371.3 322.1 242.3 208.5 203.5 216.6 217.0 223.2 255.2 243.7 252.0 306.0 337.8 355.1 346.9 325.6 321.7 301.8 286.9 253.9 249.5 237.6 208.2 183.9 188.7 182.5 172.4 159.8 154.8 153.9 153.4 140.9 137.8 135.3 124.8 116.6 118.0 115.2 107.3 104.2 107.8 102.0 95.5 93.1 93.0 83.3 75.3 70.1 75.4 72.6 67.5 64.3 65.1 62.2 60.0 55.8 58.9 62.2 61.0 66.8 74.3 76.4 72.4 67.2 66.6 62.8 57.4 50.7 49.2 42.8 39.2 34.2 32.5 29.0 25.1 24.3 23.0 21.4 20.1 16.5 16.4 17.7 18.0 18.7 16.1 12.4
Profitability
EBITDA 107.2 143.3 150.4 116.6 69.7 108.8 (65.9) 72.5 45.8 35.1 92.2 100.4 59.4 288.1 66.6 58.9 63.3 116.3 75.7 118.5 120.9 106.2 92.6 (23.7) (8.2) 102.0 122.2 107.5 113.0 98.3 117.1 97.8 99.5 103.1 95.8 83.0 71.6 80.2 72.4 66.1 44.4 56.7 61.9 63.5 58.8 62.4 61.5 55.9 47.4 50.6 57.9 37.9 52.8 50.6 52.1 47.3 43.3 42.0 34.9 27.1 19.8 20.1 16.1 14.2 13.4 11.5 10.0 10.9 12.3 7.1 13.3 10.9 14.2 11.8 15.3 14.7 13.4 14.1 14.0 11.4 11.8 10.6 12.2 11.0 9.1 10.2 9.1 8.3 7.6 7.4 (0.1) 5.7 2.9 2.6 1.6 1.0 (5.7) (2.5) (4.6)
EBIT 94.4 143.3 137.8 102.2 60.5 93.5 (80.0) 58.6 34.9 25.5 81.1 89.4 50.7 278.2 55.4 45.5 52.7 88.8 57.3 97.0 94.8 83.0 72.2 (41.9) (21.3) 90.5 112.0 99.4 105.2 91.1 108.5 89.9 91.3 94.9 88.5 76.9 65.4 74.5 66.7 60.7 39.3 52.5 58.0 59.3 54.8 58.2 57.6 52.2 44.4 47.4 52.2 36.6 51.6 49.4 50.9 46.1 42.1 40.8 33.6 25.8 18.3 18.6 14.6 12.3 11.5 9.6 8.1 9.8 9.3 5.2 11.5 8.9 12.3 9.9 13.3 12.8 11.5 12.2 12.2 9.6 10.5 11.7 11.3 10.0 8.0 9.1 7.9 6.5 5.9 5.3 (3.0) 2.6 2.4 2.1 1.2 0.5 (6.0) (3) (4.6)
Income Before Tax 94.4 132.3 137.8 102.2 60.5 93.5 (80.0) 58.6 34.9 25.5 81.1 89.4 50.7 278.2 55.4 45.5 52.7 88.8 57.3 97.0 94.8 83.0 72.2 (41.9) (21.3) 90.5 112.1 99.4 105.2 91.1 108.5 89.9 91.3 94.9 88.5 76.9 65.4 74.5 66.7 60.7 39.3 52.5 58.0 59.3 54.8 58.2 57.6 52.2 44.4 47.4 52.2 36.6 51.6 49.4 50.9 46.1 42.1 40.8 33.6 25.8 18.3 18.6 14.6 12.3 11.5 9.6 8.1 9.8 9.3 5.2 11.5 8.9 12.3 9.9 13.3 12.8 11.5 12.2 12.2 9.6 10.5 11.7 11.3 10.0 8.0 9.1 7.9 6.5 5.9 5.3 (3.0) 2.6 2.4 2.1 1.2 0.5 (6.0) (3) (4.6)
Income Tax Expense 20.6 31.6 32.6 24.9 13.4 22.5 (18.7) 16.9 8.8 5.3 19.4 20.7 12.1 60.9 13.9 11.3 13.1 23.7 13.9 23.6 22.9 22.8 15.1 (7.6) (4.6) 16.5 24.0 21.4 22.4 19.2 23.0 18.4 19.3 50.1 29.9 25.8 22.8 26.1 23.9 21.9 14.1 17.7 20.9 21.3 19.7 20.4 20.8 18.8 16.1 17.0 18.7 12.5 18.5 18.0 18.3 16.5 15.1 15.0 11.9 9.1 6.3 6.5 5.1 4.2 3.9 3.2 2.8 3.4 3.2 1.7 3.9 3.1 4.2 3.4 4.7 4.5 3.9 4.1 4.2 3.3 3.6 4.0 3.8 3.4 2.7 3.1 2.6 2.1 1.9 1.7 (6.9) 0.7 0.6 0 0 0 0 0 0
Net Income 73.8 100.7 105.2 77.3 47.0 71.0 (61.3) 41.7 26.1 20.1 61.7 68.7 38.7 217.3 41.4 34.2 39.6 65.1 43.4 73.5 71.9 60.2 57.1 (34.3) (16.7) 73.9 88.1 78.0 82.8 71.9 85.6 71.4 71.9 44.7 58.7 51.1 42.5 48.4 42.7 38.9 25.1 34.8 37.1 37.9 35.0 37.8 36.8 33.4 28.3 30.4 33.5 24.1 33.1 31.4 32.5 29.6 27.1 25.7 21.7 16.7 11.9 12.1 9.5 8.1 7.5 6.4 5.3 6.4 6.0 3.4 7.3 5.7 7.9 5.4 8.0 8.2 7.6 8.1 7.9 6.3 6.6 7.7 7.6 6.6 5.3 6.0 5.2 4.4 3.9 3.6 3.9 1.9 1.8 2.1 1.2 0.5 (6.0) (3) (4.6)
Per Share Data
EPS (Basic) 1.58 2.14 2.21 1.59 0.93 1.44 -1.42 0.80 0.46 0.33 1.19 1.34 0.71 4.28 0.74 0.59 0.70 1.20 0.77 1.33 1.35 1.14 1.08 -0.73 -0.38 1.42 1.70 1.50 1.60 1.38 1.66 1.39 1.40 0.85 1.13 0.98 0.81 0.97 0.88 0.79 0.49 0.70 0.76 0.78 0.71 0.80 0.80 0.72 0.61 0.68 0.76 0.53 0.82 0.78 0.82 0.78 0.72 0.68 0.58 0.45 0.32 0.32 0.26 0.22 0.21 0.18 0.15 0.06 0.16 0.11 0.26 0.21 0.30 0.20 0.31 0.31 0.29 0.31 0.30 0.24 0.26 0.30 0.30 0.26 0.21 0.24 0.21 0.17 0.16 0.15 0.19 0.10 0.08 0.19 0.12 0.06 -0.67 -0.32 -0.54
EPS (Diluted) 1.56 2.12 2.18 1.58 0.92 1.43 -1.42 0.80 0.46 0.33 1.18 1.33 0.70 4.23 0.74 0.59 0.69 1.19 0.76 1.31 1.35 1.14 1.08 -0.73 -0.38 1.42 1.70 1.50 1.60 1.38 1.65 1.38 1.38 0.84 1.12 0.97 0.80 0.96 0.87 0.78 0.49 0.70 0.75 0.76 0.70 0.78 0.78 0.71 0.60 0.67 0.74 0.52 0.80 0.76 0.80 0.76 0.70 0.67 0.56 0.43 0.31 0.31 0.25 0.22 0.21 0.17 0.15 0.06 0.16 0.11 0.26 0.21 0.30 0.20 0.31 0.31 0.29 0.31 0.30 0.24 0.25 0.29 0.28 0.25 0.20 0.23 0.20 0.17 0.15 0.14 0.18 0.10 0.08 0.17 0.12 0.06 -0.67 -0.32 -0.54
Shares Outstanding 45.0 45.0 45.7 45.8 46.1 46.2 46.2 46.5 47.3 48.0 48.0 47.9 48.3 49.8 49.9 50.3 50.7 50.7 50.6 50.6 50.5 50.6 50.4 50.4 50.4 50.3 50.3 50.3 50.2 50.3 50.2 49.7 49.7 49.8 49.8 49.7 49.5 47.4 46.0 46.1 46.3 46.2 45.6 45.5 45.9 44.2 43.1 43.0 42.3 41.1 40.8 40.8 40.3 40.3 39.7 38.0 37.6 37.6 37.4 37.0 37.1 37.1 36.6 36.7 36.2 36.2 35.4 33.1 31.0 31.0 27.7 26.7 26.5 26.3 26.2 26.5 26.3 26.0 26.2 26.4 25.6 25.6 25.3 25.3 25.1 25.1 24.9 25.6 24.6 24.6 18.8 19.7 19.3 11.1 9.7 8.9 8.9 9.4 8.5
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 2009 Q2 2009 Q1 2007 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2001 Q3 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2
Current Assets
Cash & Cash Equivalents 2,956.6 2,099.1 3,064.8 2,690.1 3,802.5 3,188.8 4,191.6 2,913.1 3,316.1 3,242.8 4,192.8 2,847.4 3,649.7 5,012.3 3,640.2 4,275.4 5,371.5 7,946.7 8,535.1 6,971.2 11,428.1 9,206.4 10,646.8 9,666.6 9,630.6 4,395.6 5,184.3 3,610.6 2,306.3 3,029.9 2,755.1 3,423.8 2,426.2 2,875.6 2,476.2 2,244.6 2,895.9 2,814.4 3,558.4 2,693.0 2,703.7 93.2 70.1 80.5 74.5 60.6 75.7 90.8 55.2 69.6 65.1 56.0 88.7 90.2 31.8 32.9 43.6 60.3 72.8 26.3
Short-Term Investments 7.9 3.9 3,801.3 3.9 280.1 182.9 3,518.7 3,483.2 3,491.5 3,225.9 3,147.9 3,292.5 3,394.3 2,615.6 2,380.8 2,535.6 2,591.2 3,538.2 0 0 0 3,197.0 1,367.3 235.0 228.8 239.9 238.0 240.9 230.7 120.2 117.4 24.4 24.9 23.5 24.2 119.0 42.2 24.9 26.4 27.4 28.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 0 0 0 0 0 0 0 0 794.0 801.7 809.7 757.1 732.5 719.2 648.2 622.5 556.2 559.9 628.3 634.7 679.2 715.7 753.1 825.0 892.3 740.1 770.8 807.7 680.0 626.6 586.7 609.5 520.6 516.2 511.2 492.2 432.8 465.9 454.1 464.1 428.3 207.5 188.6 202.9 197.4 167.8 86.7 55.5 48.0 49.0 52.4 44.1 41.9 0 10.6 0 0 0 0 0
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 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 2,964.5 2,103.0 6,866.1 2,690.1 4,082.6 3,371.7 7,710.2 6,396.3 7,601.6 7,270.4 8,150.3 6,897.0 7,776.5 8,347.1 6,669.2 7,433.5 8,518.9 12,090.4 9,163.4 7,605.9 12,107.3 13,119.0 12,767.2 10,726.5 10,751.7 5,375.5 6,193.1 4,659.2 3,217.0 3,776.7 3,459.1 4,057.7 2,971.7 3,415.3 3,011.6 2,855.9 3,371.0 3,305.2 4,038.9 3,184.4 3,160.5 300.6 258.7 283.3 271.9 228.4 162.5 146.3 103.2 118.5 117.6 100.1 130.7 90.2 42.3 32.9 43.6 60.3 72.8 26.3
Non-Current Assets
Property, Plant & Equipment 85.7 88.0 88.3 86.8 84.6 85.4 81.6 69.5 49.9 32.4 31.1 26.1 25.3 26.4 27.2 28.7 24.2 20.9 21.1 22.0 23.3 24.5 26.7 28.6 29.7 31.2 32.7 28.2 24.2 23.8 24.0 26.2 27.6 25.2 23.9 20.8 20.8 19.8 20.6 21.8 22.9 11.1 10.8 11.2 11.1 8.5 42.2 4.7 4.6 4.7 3.6 3.5 3.8 4.1 5.0 5.5 5.8 6.1 7.1 6.7
Goodwill 1.5 0 0 0 0 1.5 0 0 1.5 1.5 0 0 0 1.5 0 0 17.2 15.1 17.4 17.5 17.6 15.1 17.8 17.9 18.0 15.1 18.2 18.3 18.5 15.1 18.7 18.8 18.9 15.1 19.2 19.3 19.4 15.1 19.6 19.7 19.9 0 0 0 0 0 86.7 1.5 1.5 1.5 1.5 44.1 41.9 1.5 1.5 1.6 1.6 1.6 1.7 1.7
Intangible Assets 0 0 1.5 1.5 1.5 0 1.5 1.5 0 0 1.5 1.5 1.5 0 1.5 17.1 0 2.2 1.2 1.3 121.1 108.0 95.3 75.5 70.6 67.9 49.1 47.8 44.1 46.0 86.4 82.8 76.6 89.3 77.6 63.0 45.5 33.0 15.5 8.5 4.3 207.5 188.6 202.9 197.4 167.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 29,596.0 28,493.2 24,716.0 28,252.6 26,350.7 26,391.6 22,916.9 22,454.0 21,527.6 21,052.0 21,445.4 22,051.9 20,793.4 20,039.7 23,710.6 24,859.7 22,525.1 22,648.8 27,201.3 27,581.9 27,785.1 24,459.4 25,525.9 25,714.7 24,979.5 27,028.3 27,208.3 25,182.9 25,054.4 24,346.0 23,508.9 23,557.5 21,329.4 21,500.8 21,243.7 20,135.7 17,383.2 18,299.2 18,091.8 17,816.5 16,973.3 5,612.7 5,211.0 5,349.6 5,007.8 4,756.0 3,864.7 2,187.1 2,119.2 2,068.2 1,880.1 1,780.8 1,657.3 1,482.6 1,000.9 964.9 878.0 830.3 746.3 657.5
Other Non-Current Assets 838.8 856.0 865.0 912.4 856.4 881.7 919.1 933.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50 30 30 25 34 25 50.2 30 39 25 30 25 25 25 25 30 30 30 28.0 10.0 45.0 6 10 0.9 60.0 4.6 0 0.5 62.2 0 39.1 6.9 11.9 9.1 10.1 8.1 7.4
Total Non-Current Assets 30,522.0 29,437.2 25,670.9 29,253.4 27,293.2 27,360.2 23,919.1 23,458.7 21,579.0 21,085.9 21,477.9 22,079.5 20,820.2 20,067.6 23,739.3 24,905.5 22,566.5 22,687.0 27,240.9 27,622.6 27,947.1 24,607.0 25,665.7 25,886.6 25,127.8 27,172.6 27,333.4 25,311.2 25,166.1 24,481.1 23,668.0 23,724.2 21,477.4 21,660.3 21,389.4 20,263.8 17,493.9 18,392.0 18,177.5 17,896.5 17,050.4 5,661.4 5,241.5 5,415.6 5,032.5 4,782.1 3,915.7 2,253.3 2,129.9 2,074.3 1,885.6 1,848.0 1,662.6 1,527.3 1,014.3 983.8 894.6 848.1 763.2 673.3
Total Assets 33,486.5 31,540.3 32,537.0 31,943.5 31,375.7 30,731.9 31,629.3 29,855.0 29,180.6 28,356.3 29,628.2 28,976.5 28,596.7 28,414.6 30,408.5 32,339.0 31,085.4 34,731.7 36,404.3 35,228.5 40,054.4 37,726.1 38,432.9 36,613.1 35,879.4 32,548.1 33,526.4 29,970.4 28,383.1 28,257.8 27,127.1 27,781.9 24,449.1 25,075.6 24,401.0 23,119.7 20,864.9 21,697.1 22,216.4 21,081.0 20,210.9 5,962.1 5,500.2 5,698.9 5,304.4 5,010.5 4,078.2 2,399.6 2,233.1 2,192.9 2,003.2 1,948.2 1,793.3 1,617.5 1,056.7 1,016.7 938.2 908.4 836.0 699.6
Current Liabilities
Account Payables 9.4 6.7 9.4 14.1 25.3 23.7 18.7 23.8 32.4 33.2 31.1 29.7 31.2 24 18.5 8.9 8.6 7.7 8.9 8.1 5.6 11.2 14.7 20.3 17.0 12.8 34.3 23.1 24.5 20.7 17.2 11.3 5.2 7.7 4.6 6.2 3.3 5.5 3.1 5.3 2.9 2.5 2.0 2.5 2.9 5.2 7.3 2.8 2.2 3.5 3.4 2.7 3.8 0 0 0 0 0 0 0
Short-Term Debt 0 330 275 1,250 750 885 1,035 1,675 750 1,500 1,400 1,350 2,100 1,201.1 1,701.5 2,650 1,425 2,202.8 3.5 14.5 115.6 111.8 208.2 195.8 295.3 141.8 140.0 507.2 897.9 641.2 486.8 520.8 535.5 365.0 83.5 462.2 141.8 109.6 81.4 96.0 100.9 323.5 447.8 957.0 1,059.6 1,386.8 358.5 569.4 524.5 545.8 503.0 504.1 449.5 79.7 110.3 95.0 77.0 11.5 17.4 22.6
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 28,516.7 26,448.8 27,505.4 26,064.3 26,053.0 25,238.6 25,865.3 23,818.3 23,954.0 22,371.8 23,879.0 23,318.2 22,179.7 22,856.9 24,498.6 25,440.0 25,377.9 28,109.4 29,813.7 28,839.6 33,392.0 30,996.6 31,959.5 30,187.7 27,134.3 26,478.6 27,413.3 22,999.1 20,650.1 20,606.1 20,385.6 20,334.9 18,764.5 19,123.2 19,081.3 17,292.2 16,605.4 17,016.8 18,145.1 16,703.6 16,298.8 4,926.1 4,409.8 4,120.7 3,643.6 3,011.0 3,295.7 1,628.4 1,495.9 1,445.0 1,340.3 1,296.1 1,196.5 1,119.6 841.5 822.1 763.6 794.9 721.3 580.6
Total Current Liabilities 28,526.1 26,785.5 27,789.8 27,328.4 26,828.3 26,147.3 26,918.9 25,517.2 24,736.4 23,905.1 25,310.1 24,697.9 24,310.9 24,082.0 26,218.5 28,100.5 26,813.5 30,319.9 29,826.1 28,862.2 33,513.2 31,119.5 32,182.3 30,403.8 27,446.5 26,633.1 27,587.6 23,529.4 21,572.5 21,268.0 20,889.7 20,867.0 19,305.2 19,495.9 19,169.3 17,760.7 16,750.5 17,131.9 18,229.7 16,804.9 16,402.6 5,252.1 4,859.7 5,080.2 4,706.1 4,402.9 3,661.5 2,200.6 2,022.6 1,994.3 1,846.7 1,803.0 1,649.8 1,199.3 951.9 917.1 840.5 806.4 738.8 603.1
Non-Current Liabilities
Long-Term Debt 878.3 620.6 620.4 620.3 660.5 660.3 660.2 660.0 859.8 859.1 858.5 857.8 932.1 931.4 930.8 917.1 929.4 928.7 3,128.1 2,927.4 3,065.0 3,395.9 3,095.8 3,095.7 5,295.6 2,795.5 2,895.4 3,495.4 3,995.3 4,295.2 3,595.1 4,395.0 2,694.9 3,194.8 2,894.7 3,094.6 1,894.5 2,394.4 2,064.4 2,413.7 1,998.2 53.1 117.7 113.4 0 113.4 113.4 20.6 20.6 20.6 20 10 10 288.4 1.0 1.2 1.4 7.1 1.7 1.9
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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 475.9 502.8 489.7 484.8 457.1 556.3 696.1 502.2 413.7 392.9 382.0 338.9 273.7 345.8 373.5 314.5 252.4 273.5 302.4 324.0 316.8 339.5 354.3 378.9 333.8 318.1 286.0 277.2 233.4 194.2 215.9 176.4 175.6 182.2 178.6 163.8 169.4 161.2 196.6 177.6 163.0 142.8 22.9 23.9 134.3 22.2 19.0 4.0 7.3 6.2 4.3 7.4 8.5 9.0 9.7 9.1 7.7 8.8 5.5 3.4
Total Non-Current Liabilities 1,354.2 1,123.4 1,110.1 1,105.0 1,117.7 1,216.7 1,356.3 1,162.2 1,273.5 1,252.1 1,240.4 1,196.7 1,205.8 1,277.3 1,304.2 1,231.6 1,181.8 1,202.2 3,430.5 3,251.4 3,381.8 3,735.4 3,450.1 3,474.6 5,629.4 3,113.6 3,181.4 3,772.5 4,228.7 4,489.4 3,811.0 4,571.4 2,870.5 3,377.0 3,073.3 3,258.5 2,063.9 2,555.7 2,260.9 2,591.4 2,161.2 195.9 140.5 137.3 134.3 135.6 132.4 24.6 27.9 26.9 24.3 17.4 18.5 297.4 10.7 10.2 9.1 15.8 7.2 5.3
Total Liabilities 29,880.3 27,908.9 28,899.9 28,433.5 27,946.0 27,363.9 28,275.3 26,679.4 26,009.9 25,157.1 26,550.5 25,894.6 25,516.7 25,359.3 27,522.7 29,332.1 27,995.3 31,522.1 33,256.6 32,113.6 36,895.0 34,854.9 35,632.5 33,878.4 33,075.9 29,715.8 30,769.0 27,301.9 25,801.2 25,757.4 24,700.7 25,438.4 22,175.7 22,872.9 22,242.6 21,019.2 18,814.4 19,687.6 20,490.6 19,396.3 18,563.8 5,448.0 5,000.2 5,217.5 4,840.4 4,538.5 3,793.9 2,225.3 2,050.5 2,021.1 1,871.0 1,820.4 1,668.3 1,496.6 962.6 927.3 849.6 822.2 746.0 608.4
Stockholders' Equity
Common Stock 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1
Retained Earnings 2,878.1 2,808.6 2,712.3 2,611.4 2,538.4 2,495.7 2,428.9 2,494.6 2,457.2 2,435.4 2,419.6 2,362.2 2,297.8 2,263.5 2,050.6 2,013.5 1,983.6 1,948.3 1,887.5 1,848.4 1,781.2 1,713.1 1,655.3 1,600.6 1,668.3 1,663.7 1,623.1 1,537.4 1,461.9 1,381.5 1,312.0 1,228.9 1,159.9 1,090.5 1,048.2 991.9 943.3 903.2 857.2 817.0 780.5 164.2 156.2 148.6 136.9 135.0 100.2 8.8 4.4 0.5 (6.5) (10.3) (13.3) (15.2) (22.8) (24.8) (26.0) (26.5) (20.6) (17.6)
Accumulated Other Comprehensive Income (86.7) (64.6) (84.2) (112.9) (136.2) (183.1) (128.2) (367.7) (379.9) (362.0) (505.9) (440.3) (374.8) (418.9) (435.4) (272.2) (205.4) (47.7) (40.7) (26.4) (56.4) 15.8 6.8 0.5 4.8 8.9 9.0 8.3 0.5 0.5 (1.4) 0.4 0.5 0.4 0.4 0.4 0.4 0.4 0.6 0.7 0.7 6.8 6.3 6.2 4.8 5.1 (4.0) (4.3) 9.4 3.8 7.3 6.8 6.9 4.5 2.6 1.0 1.8 0.1 (2.0) (3.7)
Total Stockholders' Equity 3,606.2 3,631.4 3,637.1 3,510.1 3,429.8 3,367.9 3,354.0 3,175.6 3,170.7 3,199.1 3,077.7 3,081.9 3,080.0 3,055.4 2,885.8 3,006.8 3,090.0 3,209.6 3,147.8 3,115.0 3,159.5 2,871.2 2,800.4 2,734.8 2,803.5 2,801.3 2,757.4 2,668.5 2,581.9 2,500.4 2,426.4 2,343.5 2,273.4 2,202.7 2,158.4 2,100.6 2,050.4 2,009.6 1,725.8 1,684.7 1,647.1 514.1 500.0 481.4 464.0 472.0 284.2 174.3 182.6 171.8 132.2 127.8 125.0 120.8 94.1 89.4 88.6 86.2 90.0 91.2
Total Liabilities & Equity 33,486.5 31,540.3 32,537.0 31,943.5 31,375.7 30,731.9 31,629.3 29,855.0 29,180.6 28,356.3 29,628.2 28,976.5 28,596.7 28,414.6 30,408.5 32,339.0 31,085.4 34,731.7 36,404.3 35,228.5 40,054.4 37,726.1 38,432.9 36,613.1 35,879.4 32,548.1 33,526.4 29,970.4 28,383.1 28,257.8 27,127.1 27,781.9 24,449.1 25,075.6 24,401.0 23,119.7 20,864.9 21,697.1 22,216.4 21,081.0 20,210.9 5,962.1 5,500.2 5,698.9 5,304.4 5,010.5 4,078.2 2,399.6 2,233.1 2,192.9 2,003.2 1,948.2 1,793.3 1,617.5 1,056.7 1,016.7 938.2 908.4 836.0 699.6
Debt Metrics
Total Debt 878.3 950.6 895.4 1,870.3 1,410.5 1,545.3 1,695.2 2,335.0 1,609.8 2,359.1 2,258.5 2,207.8 3,032.1 2,132.6 2,632.2 3,567.1 2,356.4 3,128.7 3,128.1 2,927.4 3,180.6 3,507.6 3,304.0 3,291.5 5,590.9 2,937.3 3,035.4 4,002.6 4,893.2 4,936.3 4,081.9 4,915.8 3,230.4 3,559.9 2,978.2 3,556.9 2,036.4 2,504.0 2,145.8 2,509.7 2,099.0 376.6 565.5 1,070.4 1,059.6 1,500.2 471.9 590.0 545.1 566.4 523.0 514.1 459.5 368.1 111.3 96.1 78.3 18.6 19.2 24.4
Net Debt (2,078.3) (1,148.5) (2,169.4) (819.9) (2,392.0) (1,643.5) (2,496.4) (578.1) (1,706.3) (883.7) (1,934.3) (639.6) (617.6) (2,879.7) (1,008.0) (706.7) (3,015.1) (4,815.1) (5,403.5) (4,029.3) (8,247.6) (5,698.7) (7,342.8) (6,375.1) (4,039.7) (1,458.3) (2,148.9) 392.0 2,586.9 1,906.5 1,326.8 1,492.0 804.3 684.3 502.1 1,312.2 (859.6) (310.3) (1,412.6) (183.3) (604.7) 283.5 495.4 990.0 985.1 1,439.6 396.2 499.3 489.9 496.8 457.8 458.1 370.7 277.9 79.6 63.2 34.7 (41.7) (53.6) (1.8)
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 2005 Q3 2005 Q2 2005 Q1 2004 Q2 2004 Q1 2003 Q4 2003 Q3 2003 Q2 2003 Q1 2002 Q4 2002 Q3 2002 Q2 2002 Q1 2001 Q4 2001 Q3 2001 Q2 2000 Q4 2000 Q3
Operating Activities
Net Income 73.8 100.7 131.6 77.3 47.0 71.0 (61.3) 41.7 26.1 20.1 61.7 68.7 38.7 217.3 41.4 34.2 39.6 65.1 43.4 73.5 71.9 60.2 57.1 (34.3) (16.7) 73.9 88.1 76.7 82.8 71.9 85.6 71.4 71.9 44.7 58.7 51.1 42.5 48.4 42.7 38.9 25.1 7.6 6.6 5.3 4.4 3.9 3.6 3.3 3.9 3.0 1.9 2.1 1.8 1.6 2.1 2.0 1.2 (6.0) (3)
Depreciation & Amortization 12.8 15.9 50.9 14.5 9.2 15.3 14.1 13.9 10.9 9.6 11.2 11.0 8.7 9.9 11.3 13.5 10.6 27.5 18.4 21.5 26.1 23.2 20.4 18.2 13.1 11.5 10.1 8.1 7.8 7.2 8.6 8.0 8.2 8.2 7.3 6.1 6.2 5.6 5.7 5.3 5.1 0.9 1.0 1.1 1.8 1.8 2.1 3.6 2.9 2.3 3.1 0.4 0.4 0.5 0.5 0.5 0.5 0.3 0.5
Stock-Based Compensation 17.5 8.1 (4.5) 7.6 12.8 3.5 6.5 6.2 8.5 6.3 4.4 5.1 8.4 5.4 5.4 5.0 5.6 8.1 8.4 8.4 6.4 5.4 5.0 3.7 3.4 4.6 4.0 4.5 4.5 1.3 4.4 5.2 6.0 7.0 6.1 4.4 4.6 7.4 2.5 3.3 0.5 0 0 0 0 0 0 0 0.1 0 0 0 0 0 0 0 0 0 0
Change in Working Capital (27.0) (20.5) (57.5) (49.3) (85.9) (82.6) 159.0 (58.7) 19.7 42.1 (2.1) (16.9) (72.6) (35.1) (2.4) (4.0) 18.5 39.2 (21.4) 44.6 21.6 8.1 24.7 86.1 (102.5) (13.5) 50.1 (83.7) (7.3) (83.4) 64.2 (112.5) 1.5 (44.0) (13.7) (65.1) 18.6 (17.3) 3.6 (6.1) (42.6) 13.1 3.9 (2.7) (1.9) (1.5) 5.4 4.3 (4.6) (3.6) 0.0 (3.4) 0.9 (3.8) (0.1) 2.0 (1.4) 1.3 1.4
Other Non-Cash Items 10.4 26.3 484.0 12.9 17.2 11.2 215.1 30.6 30.6 109.5 20.3 4.6 35.0 (263.7) 11.9 25.0 (1.4) (28.9) 58.9 92.2 72.5 373.2 (190.1) 393.4 1,888.4 112.8 (1,607.6) 856.2 76.3 (288.1) (405.0) (146.4) (82.3) (25.3) (107.0) 31.9 89.8 (343.2) (414.4) (114.0) 17.2 (2.7) (53.0) 49.4 15.0 8.6 8.6 66.0 (39.3) (6.3) (40.6) (36.8) 7.1 1.5 1.5 1.6 0.8 3.0 0.9
Operating Cash Flow 87.5 130.5 604.6 63.0 0.4 18.4 333.3 33.6 95.8 187.7 95.4 72.5 18.2 (66.1) 67.6 73.6 72.9 111.0 107.7 240.2 198.4 470.0 (82.9) 467.0 1,785.7 189.3 (1,455.5) 861.7 164.2 (291.0) (242.2) (174.2) 5.3 (9.4) (48.6) 28.4 161.8 (299.1) (359.9) (72.6) 5.3 18.9 (41.5) 53.1 19.3 12.8 19.7 77.2 (37.1) (4.6) (35.6) (37.7) 10.2 (0.3) 4.0 6.1 1.1 (1.4) (0.1)
Investing Activities
Capital Expenditure (1.4) 0.3 5.0 (5.5) (2.4) (7.4) (15.2) (22.2) (20.0) (3.7) (7.8) (3.5) (1.4) (0.8) (1.3) (6.5) (2.7) (1.5) (1.1) (0.6) (0.9) (0.1) (0.4) (1.3) (1.0) (1.6) (6.3) (6.1) (2.6) (2.0) (0.4) (0.8) (4.4) (3.2) (4.9) (1.6) (2.6) (0.7) (0.4) (0.3) (0.9) (0.8) (0.3) (0.4) (0.3) (0.3) (1.3) (0.4) 0 0 (0.1) 0.1 (0.1) (0.1) (0.4) (0.0) (0.1) 0.8 (0.9)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (4.0) (293.5) (899.9) (501.5) (198.6) (206.9) (1,097.4) (98.5) (614.2) (8.7) (5.6) 0 (849.4) (254.8) (27.6) (261.4) (376.4) (106.9) (49.6) (442.0) (461.4) (1,860.8) (1,130.1) (8.9) (2.0) (2.1) (0.7) (0.5) (109.9) (2.3) (96.0) (0.9) (2.5) (0.4) (0.5) (78.0) (18.8) (0.5) (0.5) (0.4) (0.4) (3.1) (7.2) (2.1) (125.1) (11.6) (43.5) (304.4) (159.0) (145.7) (156.6) (237.9) (10.9) (80.5) 134.4 (272.1) (95.1) (499.1) (0.0)
Sales/Maturities of Investments 174.8 192.7 49.2 444.7 116.9 141.9 1,174.6 117.6 334.8 71.9 80.6 80.7 122.6 73.6 83.3 259.7 115.2 169.5 159.5 122.6 118.3 40.6 6.9 0.4 4.8 0.7 4.4 0.9 0.3 0.4 1.0 1.2 0.8 1.1 95.4 1.2 1.5 1.6 1.4 1.5 1.9 50.4 41.3 41.0 72.2 41.2 80.2 131.6 128.7 76.0 102.2 0 0 0 (81.6) 144.6 50.4 100.4 0.1
Other Investing Activities (1,312.9) 136.6 559.0 (1,558.7) 60.5 (168.0) (518.9) (968.8) (510.5) 259.0 576.7 (1,259.2) (807.6) 3,831.8 1,139.1 (2,392.6) 1,130.1 948.7 187.7 573.2 16.2 672.2 355.2 (1,152.6) 142.2 65.2 (421.2) (998.6) (797.7) (482.6) 446.4 (2,066.0) 237.7 (204.4) (1,017.0) (2,805.7) 822.3 85.7 150.1 (751.9) (336.5) (131.1) (134.7) (112.2) (53.4) (82.4) (101.5) (36.3) (38.3) (50.4) (79.5) (33.5) (64.1) 45.7 (148.7) 92.2 (43.8) 313.7 (88.0)
Investing Cash Flow (1,142.0) 36.2 (296.7) (1,621.0) (23.6) (240.4) (456.9) (971.9) (810.0) 318.4 643.9 (1,182.0) (1,535.8) 3,649.8 1,193.5 (2,400.8) 866.1 1,009.8 297.7 253.1 (327.8) (1,148.5) (768.4) (1,162.4) 144.0 62.1 (423.9) (1,004.3) (910.0) (486.4) 350.9 (2,066.4) 231.5 (206.9) (927.0) (2,884.2) 802.4 86.2 150.7 (751.1) (335.9) (86.2) (100.8) (73.8) (106.6) (53.0) (66.1) (209.5) (68.6) (120.0) (134.0) (271.4) (75.1) (35.0) (96.2) (35.4) (88.6) (84.2) (88.9)
Financing Activities
Net Debt Issuance (464.5) 55 (650) 459.6 (135) (150) (640) 725 (750) 100 50 (825) 898.9 (500.3) (950.1) 1,224.5 (775.8) 0 189.0 (241.5) (327.3) 203.6 0 (2,200) 2,500 (100) (600) (500) (300) 700 (800) 1,700 (500) 300 (200) 1,200 (500) 330 (349.5) 415.5 104 (243.8) 178.6 (163.3) 44.9 (21.3) 28.1 87.2 (63.7) 54.7 135.8 64.8 8.9 76.3 (100.6) 201.1 (29.6) 5.0 58.9
Stock Repurchased (75.1) (126.6) 24.1 (21.0) (31.2) 0.0 0 (50.0) (31.5) (44.8) 0 0 (60.2) (65.3) 0 (50.0) 0 0 0 (150) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.2) (0.1) 0.1 0
Dividends Paid (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (4.3) (6.3) (3.8) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) (2.4) 0 0 0 0 0 (0.3) (0.1) (0.3) (0.3) (0.3) 0 0 0 0 0 0 0 0
Other Financing Activities 2,465.5 (1,056.6) (2,158.2) 11.3 814.4 (626.7) 2,046.9 (135.7) 1,582.2 (1,506.9) 560.3 1,138.5 (677.2) (1,641.7) (941.8) 60.8 (2,734.0) (1,704.9) 973.8 (4,552.5) 2,392.5 (962.9) 1,784.0 2,953.8 807.7 (932.7) 4,046.5 1,958.3 299.5 374.8 16.0 1,554.7 (188.9) 323.2 1,409.6 1,006.9 (377.6) (863.7) 1,426.6 400.0 1,171.9 341.3 (10.7) 191.8 132.5 50.9 17.9 14.2 116.7 99.6 22.6 288.0 10.5 (11.1) 211.6 (166.5) 106.0 67.9 76.6
Financing Cash Flow 1,912.0 (1,132.4) (2,782.0) 445.7 636.9 (780.8) 1,402.2 535.2 787.4 (1,456.0) 606.0 307.3 155.0 (2,211.6) (1,896.2) 1,231.0 (3,514.2) (1,709.2) 1,158.5 (4,950.3) 2,351.1 (762.0) 1,781.6 751.4 3,305.2 (1,035.2) 3,444.1 1,455.9 (2.9) 1,072.4 (786.4) 3,252.3 (691.3) 620.7 1,207.1 2,204.5 (882.5) (536.1) 1,074.7 813.0 1,273.4 98.0 168.5 29.1 178.3 30.5 37.1 145.7 53.1 154.1 168.2 352.9 19.5 70.4 110.1 35.1 76.8 73.1 135.6
Cash Position
Net Change in Cash 857.5 (965.7) (2,474.2) (1,112.3) 613.7 (1,002.8) 1,278.5 (403.1) 73.3 (949.9) 1,345.3 (802.3) (1,362.6) 1,372.0 (635.1) (1,096.2) (2,575.1) (588.4) 1,563.9 (4,456.9) 2,221.7 (1,440.4) 930.2 56.0 5,235.0 (783.7) 1,564.7 1,313.3 (748.8) 295.0 (677.7) 1,011.6 (454.4) 404.4 231.5 (651.3) 81.6 (749.1) 865.4 (10.7) 942.8 30.7 26.1 8.4 90.9 (9.7) (9.3) 13.3 (52.6) 29.5 (1.5) 43.9 (45.4) 35.1 17.9 5.8 (10.7) (12.5) 46.5
Cash at Beginning 2,099.1 3,064.8 2,690.1 3,802.5 3,188.8 4,191.6 2,913.1 3,316.1 3,242.8 4,192.8 2,847.4 3,649.7 5,012.3 3,640.2 4,275.4 5,371.5 7,946.7 8,535.1 6,971.2 11,428.1 9,206.4 10,646.8 9,716.6 9,660.6 4,425.6 5,209.3 3,644.6 2,331.3 3,080.1 2,785.1 3,462.8 2,451.2 2,905.6 2,501.2 2,269.6 2,920.9 2,839.4 3,588.4 2,723.0 2,733.7 1,790.9 113.0 86.8 78.5 59.8 69.6 78.9 65.6 118.3 88.7 90.2 46.4 91.8 56.6 38.7 32.9 43.6 72.8 26.3
Cash at End 2,956.6 2,099.1 216.0 2,690.1 3,802.5 3,188.8 4,191.6 2,913.1 3,316.1 3,242.8 4,192.8 2,847.4 3,649.7 5,012.3 3,640.2 4,275.4 5,371.5 7,946.7 8,535.1 6,971.2 11,428.1 9,206.4 10,646.8 9,716.6 9,660.6 4,425.6 5,209.3 3,644.6 2,331.3 3,080.1 2,785.1 3,462.8 2,451.2 2,905.6 2,501.2 2,269.6 2,920.9 2,839.4 3,588.4 2,723.0 2,733.7 143.7 113.0 86.8 150.7 59.8 69.6 78.9 65.6 118.3 88.7 90.2 46.4 91.8 56.6 38.7 32.9 60.3 72.8
Free Cash Flow 86.2 130.8 609.5 57.5 (2.0) 11.0 318.1 11.4 75.8 183.9 87.6 68.9 16.8 (66.9) 66.3 67.1 70.2 109.5 106.6 239.6 197.5 469.9 (83.3) 465.7 1,784.7 187.7 (1,461.8) 855.6 161.5 (293.0) (242.7) (175.0) 0.9 (12.6) (53.5) 26.8 159.2 (299.7) (360.3) (72.9) 4.4 18.0 (41.8) 52.7 18.9 12.5 18.4 76.8 (37.5) (4.6) (35.7) (37.6) 10.1 (0.4) 3.7 6.0 1.0 (0.7) (1.0)
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 2008 Q4 2008 Q3 2008 Q2 2008 Q1 2007 Q4 2007 Q3 2007 Q2 2007 Q1 2006 Q4 2006 Q3 2006 Q2 2006 Q1 2005 Q4 2005 Q3 2005 Q2 2005 Q1 2004 Q4 2004 Q3 2004 Q2 2004 Q1 2003 Q4 2003 Q2 2002 Q4 2002 Q2 2001 Q4 2001 Q2 2001 Q1 2000 Q4 2000 Q3 2000 Q2
Income Statement
Revenue 488.4 504.4 529.2 493.6 471.7 491.6 337.8 472.5 458.7 448.2 472.6 447.9 422.6 400.4 347.4 268.6 228.8 251.3 239.0 242.2 254.5 282.2 291.8 302.4 301.4 352.6 367.2 365.2 350.2 334.4 323.1 299.8 270.0 261.7 252.7 224.3 199.3 207.5 198.6 185.8 171.0 166.1 165.2 166.1 153.2 149.1 145.7 135.3 127.0 129.1 125.6 118.4 115.5 120.6 112.6 106.0 102.3 102.0 90.9 83.2 77.8 84.6 80.7 75.5 71.3 72.9 69.3 67.4 62.7 64.8 67.1 67.0 72.5 78.9 80.8 77.7 72.3 72.9 67.3 61.4 54.4 55.2 46.4 43.9 38.4 36.3 32.5 28.2 27.6 25.2 24.2 48.3 8.6 10.8 12.2 12.3 14.6 11.4 9.1
Gross Profit 308.0 327.5 328.4 292.5 263.5 265.7 115.3 247.0 237.3 226.8 260.9 271.0 244.7 242.7 252.4 209.8 205.8 235.5 207.9 233.7 232.2 218.0 225.6 160.3 127.7 246.2 253.3 234.9 240.2 218.4 240.5 217.6 214.4 220.8 199.5 186.0 169.7 181.1 160.8 154.4 126.0 139.5 139.7 140.6 131.3 132.3 129.6 121.9 113.7 117.7 114.2 105.3 107.3 109.5 104.4 100.1 94.4 91.1 79.8 71.0 64.7 63.1 57.2 51.4 48.7 52.4 45.2 45.2 39.6 33.7 39.2 36.1 38.5 33.1 39.2 38.3 35.6 37.3 33.8 30.8 30.6 34.4 28.4 29.2 25.8 25.0 22.5 20.0 19.2 16.9 13.9 38.7 1.5 1.9 1.5 1.3 0.3 0.7 0.6
Operating Income 94.4 143.3 137.8 102.2 60.5 93.5 (80.0) 58.6 34.9 25.5 81.1 89.4 50.7 278.2 55.4 45.5 52.7 88.8 57.3 97.0 94.8 83.0 72.2 (41.9) (21.3) 90.5 112.0 99.2 105.2 91.1 108.5 89.9 91.3 94.9 88.5 76.9 65.4 74.5 66.7 60.7 39.3 52.5 58.0 59.3 54.8 58.2 57.6 52.2 44.4 47.4 52.2 36.6 51.6 49.4 50.9 46.1 42.1 40.8 33.6 25.8 18.3 18.6 14.6 12.3 11.5 9.6 8.1 9.8 9.3 5.2 11.5 8.9 12.3 9.9 13.3 12.8 11.5 12.2 12.2 9.6 10.5 11.7 11.3 10.0 8.0 9.1 7.9 6.5 5.9 5.3 (3.0) 2.6 2.4 2.1 1.2 0.5 (6.0) (3) (4.6)
Net Income 73.8 100.7 105.2 77.3 47.0 71.0 (61.3) 41.7 26.1 20.1 61.7 68.7 38.7 217.3 41.4 34.2 39.6 65.1 43.4 73.5 71.9 60.2 57.1 (34.3) (16.7) 73.9 88.1 78.0 82.8 71.9 85.6 71.4 71.9 44.7 58.7 51.1 42.5 48.4 42.7 38.9 25.1 34.8 37.1 37.9 35.0 37.8 36.8 33.4 28.3 30.4 33.5 24.1 33.1 31.4 32.5 29.6 27.1 25.7 21.7 16.7 11.9 12.1 9.5 8.1 7.5 6.4 5.3 6.4 6.0 3.4 7.3 5.7 7.9 5.4 8.0 8.2 7.6 8.1 7.9 6.3 6.6 7.7 7.6 6.6 5.3 6.0 5.2 4.4 3.9 3.6 3.9 1.9 1.8 2.1 1.2 0.5 (6.0) (3) (4.6)
EPS (Diluted) 1.56 2.12 2.18 1.58 0.92 1.43 -1.42 0.80 0.46 0.33 1.18 1.33 0.70 4.23 0.74 0.59 0.69 1.19 0.76 1.31 1.35 1.14 1.08 -0.73 -0.38 1.42 1.70 1.50 1.60 1.38 1.65 1.38 1.38 0.84 1.12 0.97 0.80 0.96 0.87 0.78 0.49 0.70 0.75 0.76 0.70 0.78 0.78 0.71 0.60 0.67 0.74 0.52 0.80 0.76 0.80 0.76 0.70 0.67 0.56 0.43 0.31 0.31 0.25 0.22 0.21 0.17 0.15 0.06 0.16 0.11 0.26 0.21 0.30 0.20 0.31 0.31 0.29 0.31 0.30 0.24 0.25 0.29 0.28 0.25 0.20 0.23 0.20 0.17 0.15 0.14 0.18 0.10 0.08 0.17 0.12 0.06 -0.67 -0.32 -0.54
Balance Sheet
Cash & Equivalents 2,956.6 2,099.1 3,064.8 2,690.1 3,802.5 3,188.8 4,191.6 2,913.1 3,316.1 3,242.8 4,192.8 2,847.4 3,649.7 5,012.3 3,640.2 4,275.4 5,371.5 7,946.7 8,535.1 6,971.2 11,428.1 9,206.4 10,646.8 9,666.6 9,630.6 4,395.6 5,184.3 3,610.6 2,306.3 3,029.9 2,755.1 3,423.8 2,426.2 2,875.6 2,476.2 2,244.6 2,895.9 2,814.4 3,558.4 2,693.0 2,703.7 93.2 70.1 80.5 74.5 60.6 75.7 90.8 55.2 69.6 65.1 56.0 88.7 90.2 31.8 32.9 43.6 60.3 72.8 26.3
Total Assets 33,486.5 31,540.3 32,537.0 31,943.5 31,375.7 30,731.9 31,629.3 29,855.0 29,180.6 28,356.3 29,628.2 28,976.5 28,596.7 28,414.6 30,408.5 32,339.0 31,085.4 34,731.7 36,404.3 35,228.5 40,054.4 37,726.1 38,432.9 36,613.1 35,879.4 32,548.1 33,526.4 29,970.4 28,383.1 28,257.8 27,127.1 27,781.9 24,449.1 25,075.6 24,401.0 23,119.7 20,864.9 21,697.1 22,216.4 21,081.0 20,210.9 5,962.1 5,500.2 5,698.9 5,304.4 5,010.5 4,078.2 2,399.6 2,233.1 2,192.9 2,003.2 1,948.2 1,793.3 1,617.5 1,056.7 1,016.7 938.2 908.4 836.0 699.6
Total Debt 878.3 950.6 895.4 1,870.3 1,410.5 1,545.3 1,695.2 2,335.0 1,609.8 2,359.1 2,258.5 2,207.8 3,032.1 2,132.6 2,632.2 3,567.1 2,356.4 3,128.7 3,128.1 2,927.4 3,180.6 3,507.6 3,304.0 3,291.5 5,590.9 2,937.3 3,035.4 4,002.6 4,893.2 4,936.3 4,081.9 4,915.8 3,230.4 3,559.9 2,978.2 3,556.9 2,036.4 2,504.0 2,145.8 2,509.7 2,099.0 376.6 565.5 1,070.4 1,059.6 1,500.2 471.9 590.0 545.1 566.4 523.0 514.1 459.5 368.1 111.3 96.1 78.3 18.6 19.2 24.4
Stockholders' Equity 3,606.2 3,631.4 3,637.1 3,510.1 3,429.8 3,367.9 3,354.0 3,175.6 3,170.7 3,199.1 3,077.7 3,081.9 3,080.0 3,055.4 2,885.8 3,006.8 3,090.0 3,209.6 3,147.8 3,115.0 3,159.5 2,871.2 2,800.4 2,734.8 2,803.5 2,801.3 2,757.4 2,668.5 2,581.9 2,500.4 2,426.4 2,343.5 2,273.4 2,202.7 2,158.4 2,100.6 2,050.4 2,009.6 1,725.8 1,684.7 1,647.1 514.1 500.0 481.4 464.0 472.0 284.2 174.3 182.6 171.8 132.2 127.8 125.0 120.8 94.1 89.4 88.6 86.2 90.0 91.2
Cash Flow
Operating Cash Flow 87.5 130.5 604.6 63.0 0.4 18.4 333.3 33.6 95.8 187.7 95.4 72.5 18.2 (66.1) 67.6 73.6 72.9 111.0 107.7 240.2 198.4 470.0 (82.9) 467.0 1,785.7 189.3 (1,455.5) 861.7 164.2 (291.0) (242.2) (174.2) 5.3 (9.4) (48.6) 28.4 161.8 (299.1) (359.9) (72.6) 5.3 18.9 (41.5) 53.1 19.3 12.8 19.7 77.2 (37.1) (4.6) (35.6) (37.7) 10.2 (0.3) 4.0 6.1 1.1 (1.4) (0.1)
Capital Expenditure (1.4) 0.3 5.0 (5.5) (2.4) (7.4) (15.2) (22.2) (20.0) (3.7) (7.8) (3.5) (1.4) (0.8) (1.3) (6.5) (2.7) (1.5) (1.1) (0.6) (0.9) (0.1) (0.4) (1.3) (1.0) (1.6) (6.3) (6.1) (2.6) (2.0) (0.4) (0.8) (4.4) (3.2) (4.9) (1.6) (2.6) (0.7) (0.4) (0.3) (0.9) (0.8) (0.3) (0.4) (0.3) (0.3) (1.3) (0.4) 0 0 (0.1) 0.1 (0.1) (0.1) (0.4) (0.0) (0.1) 0.8 (0.9)
Free Cash Flow 86.2 130.8 609.5 57.5 (2.0) 11.0 318.1 11.4 75.8 183.9 87.6 68.9 16.8 (66.9) 66.3 67.1 70.2 109.5 106.6 239.6 197.5 469.9 (83.3) 465.7 1,784.7 187.7 (1,461.8) 855.6 161.5 (293.0) (242.7) (175.0) 0.9 (12.6) (53.5) 26.8 159.2 (299.7) (360.3) (72.9) 4.4 18.0 (41.8) 52.7 18.9 12.5 18.4 76.8 (37.5) (4.6) (35.7) (37.6) 10.1 (0.4) 3.7 6.0 1.0 (0.7) (1.0)