Westinghouse Air Brake Technologies Corporation logo WAB - Westinghouse Air Brake Technologies Corporation

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 21
HOLD 12
SELL 1
STRONG
SELL
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| PRICE TARGET: $305.00 DETAILS
HIGH: $318.00
LOW: $291.00
MEDIAN: $305.00
CONSENSUS: $305.00
UPSIDE: 18.95%
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 2000 Q1
Revenue
Revenue 2,950 2,965 2,886 2,706 2,610 2,583 2,663 2,644 2,497 2,526 2,550 2,407 2,194 2,306 2,081 2,048 1,927 2,072.6 1,907 2,012 1,830 2,023.7 1,865.1 1,737.4 1,929.9 2,368.4 2,001.7 2,236.3 1,593.6 1,117.9 1,077.8 1,111.7 1,056.2 1,075.5 957.9 932.3 916.0 760.0 675.6 723.6 772.0 832.8 809.5 847.0 818.6 820.9 797.3 731.1 695.2 681.5 631.4 638.0 615.5 610.4 587.6 609.8 583.3 534.6 498.8 478.9 455.3 393.2 375.7 374.1 363.9 359.2 330.5 334.0 378.0 405.2 396.0 390.2 383.3 365.3 354.8 325.7 314.3 294.4 268.9 261.9 262.4 269.4 255.7 266.3 241.8 224.4 202.9 206.5 188.2 206.4 174.9 177.6 179.8 47.0 194.1 215.3 264.8 255.2 249.2 258.9
Cost of Revenue 1,889 2,076 1,884 1,768 1,710 1,786 1,783 1,770 1,682 1,762 1,758 1,684 1,529 1,654 1,433 1,403 1,332 1,420.2 1,304 1,432 1,296 1,518.2 1,298.9 1,250.7 1,351.2 1,693.5 1,402.3 1,621.6 1,204.6 820.9 775.8 787.7 745.3 807.1 704.7 658.3 646.3 540.8 463.1 486.2 516.9 565.2 552.5 579.3 563.2 566.6 549.8 506.4 485.7 481.4 443.3 445.1 432.6 429.9 416.3 436.4 413.9 387.3 351.7 336.2 322.1 275.3 266.5 260.7 255.5 258.8 235.6 242.3 270.8 299.4 288.3 281.7 278.1 268.8 259.1 234.9 227.7 215.7 202.7 185.2 187.3 199.9 188.7 200.1 184.8 169.3 153.0 153.9 140.7 153.2 127.3 131.6 134.5 27.0 140.5 153.9 192.1 181.1 175.0 174.9
Gross Profit 1,061 889 1,002 938 900 797 880 874 815 764 792 723 665 652 648 645 595 652.4 603 580 534 505.5 566.2 486.7 578.7 674.9 599.4 614.7 389 297.0 302 324.0 310.9 268.4 253.2 274.0 269.7 219.2 212.5 237.4 255.2 267.6 257.1 267.8 255.4 254.3 247.5 224.7 209.6 200.1 188.1 192.9 182.9 180.5 171.3 173.4 169.4 147.3 147.2 142.7 133.2 118.0 109.2 113.5 108.4 100.4 94.8 91.7 107.2 105.8 107.7 108.5 105.2 96.5 95.7 90.8 86.6 78.7 66.2 76.7 75.1 69.4 67.0 66.2 57.0 55.1 49.9 52.7 47.5 53.2 47.6 46.1 45.4 19.9 53.6 61.4 72.7 74.0 74.1 84.0
Operating Expenses
R&D Expenses 56 68 59 50 46 51 50 57 48 61 53 53 51 60 54 50 45 52 43.8 42 37.7 38.4 36.5 38.2 49 59.6 58.6 57.1 34.5 25.9 20.1 19.4 22.0 23.7 24.7 23.3 23.5 19.1 16.3 18.0 18.0 19.4 17.2 17.8 16.9 18.3 16.4 14.2 12.9 12.8 10.9 11.3 11.3 10.3 10.8 10.1 10.1 9.3 9.9 9.1 8.9 9.7 9.4 10.4 10.7 11.0 10.2 10.8 10.6 9.7 9.7 9.6 10.0 10.4 9.2 9.0 8.8 8.5 8.1 0 8.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 401 448 375 347 307 333 318 316 281 296 295 284 263 272 260 259 238 263.5 269 263 234 235.2 252.7 216.8 243.4 323.7 292.2 290.9 259.8 168.0 146.8 171.2 147.2 144.1 118.2 127.9 122.7 130.7 70.8 80.6 89.8 91.4 82.2 89.0 84.8 93.1 88.4 73.0 70.1 71.1 63.4 63.9 64.3 64.8 59.7 59.2 62.0 61.1 57.7 73.9 54.8 53.4 46.6 51.2 44.6 42.5 37.2 42.1 38.6 44.3 43.8 42.0 40.4 38.9 39.7 34.9 34.9 32.7 31.3 40.3 33.8 38.9 38.8 38.8 37.7 37.8 39.5 33.8 35.3 37.1 32.7 32.4 30.7 20.2 30.6 32.7 36.3 36.7 35.8 37.7
Other Expenses 87 0 77 69 73 79 79 71 74 99 74 74 75 73 73 72 73 72.3 73 72 70 70.8 70.3 72.3 69 65.5 79.5 66 27.4 9.6 9.9 9.9 10.4 9.5 8.6 9.3 9.0 6.6 5.3 5.5 5.3 5.7 5.5 5.2 5.3 5.9 6.7 5.1 4.7 5.0 3.9 5.2 3.6 5.0 3.9 3.3 3.1 4.4 4.1 3.3 3.1 3.5 2.6 2.1 1.9 5.1 1.7 2.1 2.3 1.6 1.7 0.9 0.9 1.0 1.2 1.1 0.5 1.1 1.4 0.9 0.9 1.0 0.9 1.1 1.0 1.0 0.8 0.7 0.8 1.2 1.0 1.1 1.3 10.4 4.4 4.2 10.0 10.0 10.4 11.2
Operating Expenses 544 516 511 466 426 463 447 444 403 456 422 411 389 405 387 381 356 388.3 386 377 342 344.4 359.5 327.3 361.4 448.8 430.3 414.1 321.7 203.6 176.8 200.4 179.6 177.3 151.5 160.6 155.2 156.4 92.4 104.1 113.0 116.4 105.0 111.9 106.9 117.3 111.5 92.3 87.7 88.9 78.3 80.3 79.2 80.0 74.4 72.6 75.3 74.8 71.7 86.4 66.8 66.6 58.6 63.8 57.2 58.6 49.1 54.9 51.4 55.5 55.2 52.6 51.3 50.3 50.1 45.1 44.3 42.3 40.7 41.2 42.8 39.8 39.7 39.9 38.7 38.9 40.3 34.6 36.0 38.3 33.7 33.5 32.1 30.6 35.0 36.9 46.4 46.7 46.2 48.9
Operating Income
Operating Income 517 373 491 472 474 334 433 430 412 308 370 312 276 247 261 264 239 264.1 217 203 192 161.1 206.7 159.4 217.3 226.1 169.1 200.6 67.3 93.5 125.2 123.5 131.3 91.2 101.7 113.4 114.5 62.8 120.1 133.3 142.2 151.2 152.1 155.9 148.4 137.0 136.0 132.3 121.8 111.2 109.9 112.6 103.7 100.5 96.8 100.9 94.1 72.5 75.5 56.4 66.4 51.3 50.6 49.7 51.2 41.8 45.8 36.7 55.7 50.3 52.5 55.9 53.9 46.2 45.6 45.8 42.3 36.4 25.5 35.5 32.3 29.6 27.3 26.3 18.4 16.2 9.6 18.1 11.5 14.9 13.8 12.6 13.3 (10.6) 18.6 24.5 26.3 27.3 27.9 35.1
Interest Expense 71 68 65 46 46 53 52 49 47 55 60 55 48 51 48 44 43 42.3 42 45 48 48.6 45.6 51.4 53.3 58.3 57.7 58.5 44.6 36.3 23.7 31.9 20.3 17.7 20.0 17.6 19.9 26.7 6.1 5.0 4.9 4.2 4.4 4.0 4.3 4.0 4.6 4.5 4.5 4.6 3.8 3.3 3.6 3.9 3.1 3.5 3.7 3.8 3.8 3.8 3.7 3.9 4.0 4.1 3.9 4.5 3.7 3.5 4.9 0 1.9 1.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 581 509 640 601 582 455 553 540 522 480 492 423 392 367 370 376 353 385.7 323 333 313 266.6 328.1 265.8 280.7 292.8 274.7 302.5 115 120.2 156.2 151.1 161.7 118.6 127.1 140.1 144.6 80.1 137.6 148.9 158.6 170.2 165.7 170.0 161.1 151.5 152.9 146.8 135.4 126.2 120.3 126.8 114.3 113.7 106.7 111.1 104.2 83.7 86.8 65.9 77.2 63.0 60.3 58.4 59.6 52.8 52.8 45.6 65.5 58.0 59.9 62.4 61.2 53.7 53.3 53.0 49.0 40.7 35.3 41.4 38.4 35.6 33.5 33.0 25.1 23.3 16.3 24.2 17.7 21.9 20.0 18.8 19.8 (9.5) 25.9 35.7 36.3 37.3 38.4 46.3
EBIT 494 373 490 496 472 337 430 434 410 335 380 314 281 261 265 271 243 277.1 217 214 206 166.9 221 165.7 202.5 233 171 202.7 59.1 93.9 126.4 125.7 133.9 92.4 101.2 114.3 119.3 59.7 121.3 132.1 142.3 153.6 149.1 154.0 145.6 135.2 135.8 132.6 121.8 112.2 108.2 113.0 103.1 101.1 95.4 101.1 94.0 72.5 73.9 56.0 66.4 51.3 50.6 49.7 51.2 41.1 45.8 36.7 56.1 50.3 52.4 55.2 53.9 46.2 45.6 45.8 42.3 36.4 25.5 35.5 32.3 29.6 27.3 26.3 18.4 16.2 9.6 18.1 11.5 14.9 13.8 12.6 13.3 (11.3) 19.7 25.3 26.3 27.3 27.9 35.1
Income Before Tax 469 291 425 450 426 284 378 385 363 280 320 259 233 210 217 227 200 234.8 175 169 158 118.3 175.4 114.3 149.2 174.7 113.3 144.2 14.5 57.6 102.7 93.8 113.6 74.7 81.2 96.7 99.5 33.1 115.2 127.1 137.5 149.4 144.8 149.9 141.2 131.2 131.2 128.0 117.4 107.5 104.4 109.7 99.5 97.1 92.4 97.6 90.3 69.8 70.2 52.2 63.2 47.8 45.8 46.6 46.5 36.6 42.5 33.1 51.2 47.9 50.4 53.9 52.0 44.8 43.4 43.6 40.7 36.0 25.5 33.5 31.5 27.7 23.8 23.4 14.7 14.0 7.2 14.1 7.6 8.8 8.8 6.6 7.3 (16.5) 9.6 12.6 7.0 2.4 12.5 25.6
Income Tax Expense 106 87 112 111 99 71 92 94 86 63 78 66 60 51 54 58 50 41.5 43 44 43 31.5 46.9 28.5 38 37.7 22.7 41.5 18.5 22.7 16.6 10.5 26.1 25.0 12.7 24.6 27.5 (13.3) 32.8 36.6 43.3 47.6 45.6 48.4 45.1 38.5 41.1 39.3 37.2 33.5 30.4 35.1 29.9 32.4 29.4 32.9 31.0 23.6 23.6 15.8 22.2 16.8 15.3 15.4 16.2 12.4 15.1 2.2 18.5 16.8 17.2 20.2 19.5 15.8 16.7 15.5 15.1 9.1 7.8 11.7 11.4 9.6 8.3 8.5 5.4 5.1 (2.3) 5.2 2.8 3.2 3.2 1.5 2.6 (5.8) 3.2 4.5 2.5 5.9 4.5 9.2
Net Income 362 202 310 336 322 212 283 289 272 215 240 191 169 158 160 166 149 190.2 131 125 112 87.9 128.1 86.8 111.6 135.7 91.1 104.1 (4.5) 34.4 87.7 84.4 88.4 48.9 67.4 72.0 73.9 37.8 82.4 90.5 94.2 101.8 99.2 101.5 96.2 92.7 90.2 88.7 80.1 74.0 73.9 74.6 69.6 64.8 63.0 64.7 59.3 46.3 46.6 36.3 41.0 31.0 30.5 31.2 30.4 24.2 27.3 30.8 32.7 31.1 33.2 33.8 32.5 28.7 27.2 28.1 25.5 26.2 17.4 21.1 20.0 16.3 15.1 15.2 9.2 9.2 9.4 9.0 4.8 5.9 5.5 5.2 4.8 37.1 8.0 10.4 4.5 (3.5) 8.0 16.4
Per Share Data
EPS (Basic) 2.12 1.19 1.81 1.96 1.88 1.24 1.63 1.64 1.54 1.21 1.34 1.07 0.94 0.87 0.88 0.91 0.81 1.02 0.69 0.66 0.59 0.46 0.67 0.46 0.58 0.71 0.48 0.58 -0.04 0.36 0.91 0.88 0.92 0.51 0.70 0.75 0.77 0.42 0.92 1.00 1.03 1.06 1.03 1.05 1.00 0.96 0.94 0.92 0.84 0.77 0.77 0.78 0.73 0.68 0.66 0.67 0.62 0.48 0.49 0.38 0.43 0.32 0.32 0.33 0.32 0.25 0.29 0.33 0.34 0.33 0.34 0.35 0.34 0.30 0.28 0.29 0.27 0.27 0.18 0.22 0.21 0.17 0.16 0.16 0.10 0.10 0.11 0.10 0.06 0.07 0.07 0.06 0.06 0.43 0.10 0.12 0.05 -0.04 0.09 0.19
EPS (Diluted) 2.12 1.18 1.81 1.96 1.88 1.23 1.63 1.64 1.53 1.20 1.34 1.06 0.94 0.87 0.88 0.91 0.81 1.02 0.69 0.66 0.59 0.46 0.67 0.46 0.58 0.71 0.48 0.54 -0.04 0.36 0.91 0.87 0.92 0.51 0.70 0.75 0.77 0.42 0.91 1.00 1.02 1.05 1.02 1.04 0.99 0.95 0.93 0.91 0.83 0.76 0.76 0.77 0.72 0.67 0.65 0.67 0.61 0.48 0.48 0.38 0.43 0.32 0.32 0.33 0.32 0.25 0.28 0.32 0.34 0.32 0.34 0.35 0.33 0.29 0.28 0.28 0.26 0.27 0.18 0.22 0.21 0.17 0.16 0.16 0.10 0.10 0.10 0.10 0.06 0.07 0.07 0.06 0.06 0.43 0.09 0.12 0.05 -0.04 0.09 0.19
Shares Outstanding 170 170.3 170.5 170.6 170.5 171.2 173.4 175.4 176.5 178 178.6 178.9 179.9 181.8 181.3 181.9 184.5 186 187.6 188.6 188.5 189.2 189.8 189.8 190.8 191.1 189.6 177.3 118.6 96.3 96.2 96.0 95.8 95.7 95.7 95.6 95.2 89.4 89.6 89.8 91.3 95.4 96.4 96.3 96.2 95.9 95.9 96.0 95.5 95.8 95.8 95.8 95.0 95.2 95.3 95.7 95.4 95.4 95.7 95.9 95.5 95.5 95.4 95.5 94.9 94.9 94.6 95.0 95.3 95.3 96.3 96.2 96.8 96.8 97.5 97.3 96.6 96.6 97.4 96.9 96.2 96.2 95.1 93.7 92.5 92.5 91.0 89.6 89.3 89.3 87.0 86.9 86.6 86.4 85.9 85.8 85.8 86.8 86.9 86.5
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 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1 1995 Q4 1995 Q3 1995 Q2 1995 Q1 1994 Q4 1993 Q4
Current Assets
Cash & Cash Equivalents 531 789 528 1,486 689 706 401 590 634 620 385 364 410 541 514 501 488 473 456.4 453.5 483.5 599 559.3 587.9 615.9 604.2 587.4 461.4 512.9 580.9 411.4 245.6 249.9 233.4 228.1 328.5 280.2 398.5 250.4 302.9 262.8 166.5 178.9 188.7 121.3 98.1 158.0 94.8 58.1 70.3 8.7 12.8 19.2 18.0 0.1 7.4 8.0 6.1 11.1 6.9 14.7 7.1 7.5 6.5 4.6 9 9.8 5.1 4.4 0.8 0.3 2.9 4 0.6 6.7 3.2 1.2 0.2 1.2 2.8 0.3 1 0
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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 2,252 1,897 2,198 1,999 1,932 1,702 1,782 1,801 1,541 1,684 1,714 1,698 1,576 1,519 1,462 1,422 1,382 1,477 1,367 1,452.6 1,403 1,412 1,433.5 1,410.3 1,672 1,663.9 1,673.3 1,707.4 1,726.8 1,146.8 1,240.5 1,213.2 1,268.7 1,166.8 1,144.3 1,129.0 1,051.5 942.5 624.2 586.4 619.8 275.2 247.9 208.3 251.8 259.6 215.7 130.3 130.1 129.1 131.7 130.1 108.0 103.8 162.2 154.0 185.8 194.4 208.7 187.4 179.7 179.7 123.1 128 137.9 132.9 110.9 107.4 103 91.4 92.2 79 78.9 73.5 69.8 56.7 53.4 45.6 53.6 57.9 63.5 47.3 40
Inventory 2,850 2,745 2,747 2,571 2,378 2,314 2,380 2,364 2,356 2,284 2,246 2,317 2,228 2,034 2,023 1,918 1,828 1,689 1,689.6 1,661.2 1,671.5 1,642 1,779.7 1,799.5 1,785.7 1,773.1 1,957.3 1,881.8 1,947.2 844.9 866.2 863.8 829.3 742.6 764.8 746.2 703.9 658.5 496.0 493.4 478.7 239.4 241.1 239.3 249.6 253.3 185.9 94.4 98.1 91.8 93.5 91.8 88.5 97.1 186.6 189.8 195.3 202.8 218.1 222.8 222.7 211.4 111 111.4 107.7 103.6 88.4 84.9 73.9 69.3 66.2 65.3 59.7 62.4 63.8 49.9 51.7 52.9 50.7 48.3 49 40.6 33.1
Other Current Assets 340 263 315 298 256 221 211 272 268 267 289 284 282 233 200 205 213 193 247.1 240.9 221 227 163.7 172 167.5 150.9 192.4 178.6 194.2 1,877 1,835.4 124.3 118.0 122.3 139.9 141.1 130.6 868.1 324.5 317.6 325.3 50.5 48.5 53.3 42.7 40.6 36.6 31.3 35.3 30.9 30.6 30.9 29.5 29.4 40.6 36.1 36.3 44.3 33.9 38.3 38.3 39.1 25.4 22.6 21.6 39.3 18.7 17.9 19 19 17.1 16.6 14.2 13.7 5.9 4.9 4.6 8 4.8 4.3 3.8 1.8 2.2
Total Current Assets 5,973 5,694 5,788 6,354 5,255 4,943 4,774 5,027 4,799 4,855 4,634 4,663 4,496 4,327 4,199 4,046 3,911 3,832 3,760.1 3,808.2 3,779 3,880 3,936.2 3,969.7 4,241.1 4,192.1 4,410.4 4,229.1 4,381.1 4,449.7 4,353.5 2,446.9 2,465.8 2,265.1 2,277.1 2,344.8 2,166.2 2,867.6 1,695.1 1,700.4 1,686.6 731.6 716.4 689.5 665.5 651.6 596.2 350.8 321.5 322.1 264.5 265.6 245.2 248.3 389.5 387.4 425.4 447.6 471.8 455.3 455.5 437.2 267 268.5 271.8 263 227.8 215.3 200.3 180.5 175.8 163.8 156.8 150.2 146.2 114.7 110.9 106.7 110.3 113.3 116.6 90.7 75.3
Non-Current Assets
Property, Plant & Equipment 1,653 1,616 1,534 1,476 1,462 1,447 1,439 1,439 1,445 1,485 1,419 1,443 1,422 1,429 1,402 1,428 1,468 1,497 1,509 1,544.3 1,575.5 1,601.6 1,603.7 1,612.4 1,623 1,655.8 1,622.7 1,646.1 1,635.0 563.7 557.4 555.8 573.4 574.0 550.4 547.8 524.1 518.4 358.0 348.6 353.9 192.5 200.2 201.7 194.5 193.3 181.5 151.4 153.2 153.8 149.5 148.5 148.6 159.3 202.1 205.8 210.5 214.6 214.2 217.8 221.0 222.7 132.9 130.5 128.1 125 119.5 116.1 110 108.4 102.5 100.7 96.1 95.8 93.1 73.7 73.9 72.8 72.6 70.6 70 67.3 66.4
Goodwill 10,625 10,216 9,853 8,936 8,787 8,710 8,786 8,706 8,730 8,780 8,590 8,657 8,540 8,508 8,361 8,459 8,567 8,587 8,604.7 8,653.2 8,625.7 8,485.2 8,366.1 8,309.9 8,273.7 8,360.6 8,103.2 8,150.7 8,142.5 2,396.5 2,412.6 2,428.6 2,528.8 2,460.1 2,384.8 2,343.6 2,188.5 2,078.8 877.1 860.0 867.6 497.9 506.3 483.0 416.6 396.8 232.9 0 0 0 0 0 0 0 220.3 222.4 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
Intangible Assets 4,239 3,838 3,546 2,889 2,892 2,934 2,996 3,031 3,115 3,205 3,267 3,359 3,333 3,402 3,410 3,531 3,632 3,705 3,779.8 3,876 3,927.2 3,869.2 3,889.6 3,935.4 4,010 4,104 4,207 4,364.4 4,364.0 1,129.9 1,157.5 1,174.4 1,231.7 1,204.4 1,140.4 1,129.4 1,089.1 1,053.9 457.3 430.4 437.1 184.4 190.5 187.6 160.8 159.9 47.1 146.3 146.7 147.2 149.1 150.1 151.0 151.0 43.3 44.4 268.3 265.4 268.2 270.8 274.1 277.0 192.4 151.1 196.5 151.7 118.5 115.3 111.6 109.1 107.6 105.5 103.1 104.7 104.6 78.5 79.7 69.1 70.3 71.7 71.6 24.3 29.2
Long-Term Investments 130 121 191 191 197 209 175 167 163 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Assets 576 584 615 545 503 459 474 506 495 663 890 863 878 850 890 869 860 833 698.3 630.7 635.8 619 648.8 638 625.3 631.7 557.6 552.3 555.3 109.4 72.3 71.9 76.0 76.4 97.0 73.1 63.0 62.4 40.7 39.8 35.6 17.7 24.9 19.0 19.6 18.2 18.5 13.5 13.6 12.8 47.2 45.4 18.0 46.8 42.0 45.9 51.9 56.5 52.7 54.1 57.6 59.7 13.3 56.3 13.1 51.8 10.7 10.7 12.4 12.9 13.1 13.2 14 12.5 13 13.8 14.2 14.8 15.4 16.4 16.7 5.4 4.7
Total Non-Current Assets 17,223 16,375 15,739 14,037 13,841 13,759 13,870 13,849 13,948 14,133 14,166 14,322 14,173 14,189 14,063 14,287 14,527 14,622 14,591.8 14,704.2 14,764.2 14,574.7 14,508.2 14,495.7 14,532 14,694.1 14,490.5 14,713.5 14,696.8 4,199.6 4,199.7 4,230.7 4,410.0 4,314.8 4,172.5 4,094.0 3,864.6 3,713.5 1,733.0 1,678.9 1,694.2 900.5 921.8 896.3 794.7 769.3 506.5 330.3 332.5 334.2 345.7 344.0 343.6 357.1 507.7 518.5 530.7 536.5 535.1 542.8 552.7 559.4 338.6 337.9 337.7 333.2 248.7 242.1 234 230.4 223.2 219.4 213.2 213 210.7 166 167.8 156.7 158.3 158.7 158.3 97 100.3
Total Assets 23,196 22,069 21,527 20,391 19,096 18,702 18,644 18,876 18,747 18,988 18,800 18,985 18,669 18,516 18,262 18,333 18,438 18,454 18,351.9 18,512.4 18,543.2 18,454.5 18,444.4 18,465.4 18,773.1 18,886.2 18,900.9 18,942.6 19,077.9 8,649.2 8,553.2 6,677.6 6,875.8 6,580.0 6,449.6 6,438.7 6,030.9 6,581.0 3,428.2 3,379.2 3,380.8 1,632.2 1,638.2 1,585.8 1,460.2 1,420.9 1,102.8 681.1 654.0 656.3 610.2 609.6 588.9 605.4 897.2 905.8 956.1 984.0 1,006.9 998.1 1,008.2 996.7 605.6 606.4 609.5 596.2 476.5 457.4 434.3 410.9 399 383.2 370 363.2 356.9 280.7 278.7 263.4 268.6 272 274.9 187.7 175.6
Current Liabilities
Account Payables 1,423 1,402 1,429 1,407 1,324 1,300 1,338 1,331 1,288 1,250 1,243 1,307 1,353 1,301 1,206 1,178 1,058 1,012 947.3 994.7 955 909.4 962 1,006 1,087.2 1,157.5 1,146.2 1,232.6 1,187.3 589.4 557.4 615.7 608.3 552.5 512.9 548.1 512.2 530.2 276.5 305.2 304.2 123.8 122.3 119.9 116.7 126.3 118.4 81.3 79.6 79.7 72.2 71.9 62.1 64.5 77.0 74.9 80.6 86.3 88.0 84.0 82.4 87.4 45.3 53.3 51.3 97.3 48.7 44.4 43.2 37.6 31.1 29.8 24.9 23.8 22.8 19.7 18.3 20.7 25.1 24.1 20.6 15.8 15
Short-Term Debt 1,889 1,250 251 0 504 500 500 503 3 781 759 989 975 251 251 226 14 2 3.8 0.6 353.9 447 454.8 697.1 92.8 95.7 111.8 104.4 321.3 64.1 47.0 27.1 49.6 47.2 49.7 50.7 87.4 129.8 0.1 0.1 0.1 38.2 34.5 32.7 31.4 30.7 0 0 0 0 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.7 0.7 0.7 0.7 27.7 27.7 20.3 30.6 15 15 32.6 32.6 22.9 22.1 18.2 29.7 13.5 11 8.8 22.4 5 5 26.5 0 9.2
Deferred Revenue 0 0 940 936 796 693 567 646 645 804 679 731 697 772 691 627 624 629 556.9 597.5 640.7 643 640.9 619.5 602.8 604.2 670.6 648.5 573.2 373.5 374.1 390.1 378.2 369.7 373.8 373.4 351.6 256.6 108.7 111.0 100.7 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 0 0 0 0 0 0 0
Other Current Liabilities 2,523 2,421 434 325 419 425 380 280 344 341 308 249 295 300 278 228 287 335 309.3 243.2 261.5 242 243.9 231.1 257.4 343.8 287.9 287.9 273.4 173.2 165.2 163.6 170.5 164.2 152.0 146.5 141.8 145.3 55.0 62.1 59.2 35.9 42.3 44.6 70.3 61.1 40.8 21.3 17.9 16.8 17.0 13.0 10.8 9.3 14.8 24.0 29.0 103.6 103.3 100.9 112.7 106.1 77.2 77.1 79.2 106.1 66.7 66 65.8 61.6 59.4 50 50.7 48.5 47.2 30.8 30.5 26.9 29.9 26.4 36.4 28 22.4
Total Current Liabilities 5,835 5,150 4,064 3,606 3,927 3,792 3,681 3,647 3,153 4,056 3,891 4,173 4,165 3,467 3,328 3,190 2,880 2,910 2,811.6 2,844.7 3,168.9 3,226 3,228.6 3,483.2 2,981.6 3,258 3,198.9 3,211.3 3,254.4 1,646.6 1,530.3 1,606.5 1,648.0 1,573.3 1,465.4 1,482.1 1,471.4 1,446.6 624.9 664.6 657.7 310.5 310.0 305.3 316.6 311.8 241.9 158.4 147.0 152.8 146.2 147.3 135.3 145.4 176.8 171.3 197.0 190.7 192.1 185.6 195.9 194.2 150.2 158.1 150.8 244.5 130.4 125.4 141.6 131.8 113.4 101.9 93.8 102 83.5 61.5 57.6 70 60 55.5 83.5 43.8 46.6
Non-Current Liabilities
Long-Term Debt 4,708 4,606 5,034 4,784 3,503 3,480 3,517 3,494 3,997 3,288 3,288 3,401 3,189 3,751 3,824 3,987 4,225 4,056 4,067.2 4,079.6 3,923.3 3,792 3,799.9 3,768.7 4,655.1 4,333.6 4,633.5 4,528.8 4,641.3 3,792.8 3,818.1 1,857.8 1,871.1 1,823.3 1,824.2 1,934.6 1,782.6 1,763.0 819.8 744.1 801.9 369.7 385.0 359.0 320.5 331.8 150 190.2 190.2 193.4 181.0 191.4 194.3 210.8 454.2 470.9 507.2 539.4 571.9 560.5 562.9 567.8 413.7 422.6 450.2 437.2 364.8 361.2 332.3 332.3 347.1 354.9 360.5 312 342.9 293.6 304.1 283.5 287.7 324.4 396.2 78.1 98.7
Deferred Tax Liabilities 729 606 553 411 390 376 295 323 321 318 355 359 333 326 287 289 304 288 184.7 194.1 186.4 168.4 163.1 155.6 151.4 145.3 72.6 169.9 176.1 198.3 153.5 155.6 182.8 175.9 282.6 287.4 258.2 245.7 156.9 145.6 141.3 53.9 52.2 52.2 27.5 13.9 16.4 11.5 10.9 11.6 0 0 8.8 0 0 0 0 17.1 0 0 0 8.1 0 0 0 3.5 0 0 0 5.6 6.1 7.1 7.4 7.4 0 3.3 3.3 3.1 2.4 3.6 3.5 3.4 4.4
Other Non-Current Liabilities 229 (57) 781 745 862 921 860 892 772 802 899 825 848 825 898 920 941 961 1,097.2 1,066.2 1,087.5 1,115 1,200.4 1,177.3 1,187.3 1,213.7 1,266.5 1,197.5 1,225.6 142.4 141.0 183.1 185.6 178.9 141.1 150.3 149.9 148.9 96.1 99.1 101.5 91.1 89.8 90.4 92.2 104.0 108.7 52.3 54.0 50.2 63.5 62.3 51.3 52.2 51.2 53.0 51.9 40.5 53.9 53.5 54.2 44.7 28.8 28.2 27.9 42.3 26.3 27.4 27.1 20.5 20.6 19.3 18.9 18 16 16 15.8 15.5 32.9 15.9 18.5 15.6 14.9
Total Non-Current Liabilities 6,210 5,729 6,368 5,940 4,755 4,777 4,672 4,709 5,090 4,408 4,542 4,585 4,370 4,902 5,009 5,196 5,470 5,305 5,349.1 5,339.9 5,197.2 5,075.5 5,163.4 5,101.6 5,993.8 5,692.6 5,972.6 5,896.1 6,043.0 4,133.5 4,112.6 2,196.5 2,239.5 2,178.1 2,247.8 2,372.3 2,190.7 2,157.6 1,072.7 988.8 1,044.7 514.8 527.0 501.6 440.2 449.7 275.1 253.9 255.1 255.2 244.5 253.7 254.3 263.0 505.5 523.9 559.0 597.0 625.7 614.0 617.1 620.6 442.5 450.8 478.1 462.5 391.1 388.6 359.4 358.4 373.8 381.3 386.8 337.4 358.9 312.9 323.2 302.1 323 343.9 418.2 97.1 118
Total Liabilities 12,045 10,879 10,432 9,546 8,682 8,569 8,353 8,356 8,243 8,464 8,433 8,758 8,535 8,369 8,337 8,386 8,350 8,215 8,160.7 8,184.6 8,366.1 8,301.8 8,392 8,584.8 8,975.4 8,950.6 9,171.5 9,107.4 9,297.5 5,780.2 5,642.9 3,803.0 3,887.6 3,751.4 6,449.6 3,854.4 3,662.1 3,604.2 1,697.7 1,653.4 1,702.4 825.2 837.0 806.9 756.8 761.5 517.0 412.3 402.1 408.0 390.7 401.0 389.6 408.3 682.3 695.3 756.0 787.7 817.8 799.6 813.0 814.8 592.7 608.9 628.9 630.1 521.5 514 501 490.2 487.2 483.2 480.6 439.4 442.4 374.4 380.8 372.1 383 399.4 501.7 140.9 164.6
Stockholders' Equity
Common Stock 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2.0 2.0 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Retained Earnings 4,187 3,878 3,719 3,452 3,160 6,185 6,007 5,759 5,505 5,269 5,085 4,875 4,715 4,577 4,447 4,314 4,176 4,055 3,887.8 3,780.1 3,678.3 3,588.9 3,524.2 3,419 3,355.6 3,267 3,154.8 3,087.5 3,005.8 3,022.0 2,999.1 2,923.0 2,850.1 2,773.3 2,735.9 2,680.0 2,617.6 2,553.3 2,524.4 2,450.9 2,367.6 826.8 796.1 766.2 715.6 685.3 496.3 265.1 256.6 252.2 241.6 236.5 231.3 226.5 241.9 236.0 228.4 218.5 214.4 218.4 210.8 194.8 219.2 206.9 194 182.3 171.6 161 152.2 141.6 132.3 123.7 114.7 105.4 96.9 89.2 81.2 73.8 66.1 59.6 51.2 40.3 3.5
Accumulated Other Comprehensive Income (689) (616) (604) (561) (733) (846) (607) (720) (667) (590) (713) (624) (631) (661) (808) (641) (449) (466) (432.6) (375.8) (409) (339.1) (482.2) (537.8) (560.6) (382.6) (468.6) (289.2) (309) (256.6) (205.7) (156.2) 34.0 (45.0) (91.9) (184.6) (331.7) (379.6) (286.1) (290.3) (249.1) (68.0) (40.6) (30.5) (48.5) (72.0) (3.2) (21.7) (21.3) (19.9) (22.5) (27.9) (31.8) (28.5) (22.2) (18.9) (21.7) (14.6) (16.1) (140.0) (131.9) (20.2) (131.3) (99.5) (95.8) (89.5) (90.2) (86.7) (82) (78.2) (75.6) (71.4) (67.9) (66.5) (74.4) 0 0 0 0 0 0 0 0
Total Stockholders' Equity 11,151 11,190 11,095 10,801 10,368 10,091 10,250 10,477 10,462 10,487 10,326 10,188 10,085 10,102 9,881 9,905 10,049 10,201 10,156.6 10,294.4 10,144.1 10,122.3 10,016.9 9,845.6 9,761.8 9,956.5 9,696.4 9,801.8 9,687.8 2,865.1 2,895.2 2,857.3 2,969.1 2,808.9 2,717.7 2,566.9 2,351.6 2,206.0 1,727.1 1,722.5 1,676.6 804.1 799.1 776.9 701.9 659.4 585.7 268.8 252.0 248.3 219.5 208.6 199.3 197.1 214.9 210.6 200.1 196.4 189.1 198.5 195.2 181.9 12.9 (2.5) (19.4) (33.9) (45) (56.6) (66.7) (79.3) (88.2) (100) (110.6) (76.2) (85.5) (93.7) (102.1) (108.7) (114.4) (127.4) (226.8) 46.8 11
Total Liabilities & Equity 23,196 22,069 21,527 20,391 19,096 18,702 18,644 18,876 18,747 18,988 18,800 18,985 18,669 18,516 18,262 18,333 18,438 18,454 18,351.9 18,512.4 18,543.2 18,454.5 18,444.4 18,465.4 18,773.1 18,886.2 18,900.9 18,942.6 19,077.9 8,649.2 8,553.2 6,677.6 6,875.8 6,580.0 6,449.6 6,438.7 6,030.9 6,581.0 3,428.2 3,379.2 3,380.8 1,632.2 1,638.2 1,585.8 1,460.2 1,420.9 1,102.8 681.1 654.0 656.3 610.2 609.6 588.9 605.4 897.2 905.8 956.1 984.0 1,006.9 998.1 1,008.2 996.7 605.6 606.4 609.5 596.2 476.5 457.4 434.3 410.9 399 383.2 370 363.2 356.9 280.7 278.7 263.4 268.6 272 274.9 187.7 175.6
Debt Metrics
Total Debt 6,917 6,248 5,285 4,784 4,007 3,980 4,017 3,997 4,000 4,069 4,047 4,390 4,164 4,002 4,075 4,213 4,239 4,058 4,071 4,080.2 4,277.2 4,239 4,254.7 4,465.8 4,747.9 4,429.3 4,745.3 4,633.2 4,962.6 3,856.9 3,865.1 1,884.9 1,920.6 1,870.5 1,873.9 1,985.3 1,870.0 1,892.8 819.9 744.3 802.0 407.9 419.4 391.8 351.9 362.5 150 190.2 190.2 193.4 181.8 192.3 195.2 211.6 455.0 471.7 507.9 540.2 572.6 561.2 563.6 568.6 441.4 450.3 470.5 573.6 379.8 376.2 364.9 364.9 370 377 378.7 341.7 356.4 304.6 312.9 305.9 292.7 329.4 422.7 78.1 107.9
Net Debt 6,386 5,459 4,757 3,298 3,318 3,274 3,616 3,407 3,366 3,449 3,662 4,026 3,754 3,461 3,561 3,712 3,751 3,585 3,614.6 3,626.7 3,793.7 3,640 3,695.4 3,877.9 4,132 3,825.1 4,157.9 4,171.8 4,449.7 3,276 3,453.7 1,639.3 1,670.7 1,637.1 1,645.8 1,656.8 1,589.8 1,494.3 569.5 441.3 539.2 241.4 240.5 203.1 230.6 264.4 (8.0) 95.4 132.1 123.1 173.1 179.4 175.9 193.6 455.0 464.3 500.0 534.1 561.5 554.3 548.9 561.5 433.9 443.8 465.9 564.6 370 371.1 360.5 364.1 369.7 374.1 374.7 341.1 349.7 301.4 311.7 305.7 291.5 326.6 422.4 77.1 107.9
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 2000 Q2 2000 Q1 1999 Q4 1999 Q3 1999 Q2 1999 Q1 1998 Q4 1998 Q3 1998 Q2 1998 Q1 1997 Q4 1997 Q3 1997 Q2 1997 Q1 1996 Q4 1996 Q3 1996 Q2 1996 Q1 1995 Q4 1995 Q3 1995 Q2 1995 Q1
Operating Activities
Net Income 363 204 313 339 327 220 286 289 272 215 242 193 173 159 163 169 150 188.6 130.4 125.2 114.7 86.8 128.5 85.8 111.2 137 90.7 102.9 (4.0) 34.9 86.1 83.3 87.5 49.7 68.4 72.2 72.0 46.3 82.4 90.5 94.2 15.1 15.2 9.2 9.0 4.8 5.9 5.6 5.5 5.7 5.2 (57.8) 4.8 2.2 37.1 6.4 8.0 4.5 (3.5) 8.0 16.4 (0.2) 12.5 13.2 12.4 11.6 10.8 11.7 10.9 9.6 8.8 9.3 9.6 8.7 8 8.3 7.7 8 6.4 9.9 10.8
Depreciation & Amortization 151 128 (215) 105 110 118 123 106 112 160 112 109 111 106 105 105 110 108.6 122.3 119 107.4 99.7 107.1 100.1 78.2 59.8 103.7 99.7 56.0 26.3 29.7 25.4 27.9 26.3 25.9 25.8 25.2 20.4 16.3 16.9 16.2 6.3 6.7 6.7 6.1 6.3 6.9 6.5 6.1 5.7 6.2 6.3 6.5 6.6 1.7 10.7 10.4 10.0 10.0 10.4 11.2 23.0 6.9 5.9 6.8 5.9 6.3 6.6 6.4 6.4 6.1 5.9 6.2 5.7 5.9 5.5 5.1 5 4.9 4.9 3.8
Stock-Based Compensation 22 22 (36) 19 17 22 18 17 12 11 14 12 10 11 10 10 10 11.8 0 16 8 1.9 11.9 (1.6) 7.3 13.9 12.2 15.4 8.5 4.8 6.5 8.3 5.7 6.7 2.7 6.2 5.7 6.0 5.1 4.2 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
Change in Working Capital (315) 578 (86) (222) (263) 317 115 (176) (69) 368 56 (199) (322) 100 (76) (22) (111) (76.9) (11) (37) 61.9 137.2 (18) 126.2 (278.6) 261.1 (94.9) 195.2 (30.2) 219.0 (154.9) (74.6) (96.8) 146.7 (57.9) (92.1) (129.2) 140.6 (70.2) 26.5 (40.4) (3.8) (4.5) (3.7) 15.1 (19.8) 12.8 (1.8) 0.8 (12.4) 3.2 (0.8) 2.7 (33.2) 39.5 (5.2) 16.6 11.5 (9.0) (16.5) (5.1) (9.7) (5.7) 5.6 (14.5) (10.9) (0.2) (11.7) (6) 4 0.6 (1.1) 0.8 (6.5) 5.8 (0.1) (0.7) (4.2) 4.7 (3) (6.8)
Other Non-Cash Items (22) 60 391 (32) 0 46 (81) (1) 7 (10) 127 121 3 34 3 1 2 (6.4) 2.2 (7.3) (12.6) (20.3) (12.5) (17.8) (37.6) (52.3) (20.5) (1.9) 1.5 (8.0) 1.0 0.2 (0.9) (66.4) 2.1 0.5 (1.7) (2.4) (0.7) 0.4 0.0 0.1 (5.3) 5.9 0 0 8.5 0.0 0.0 (0.1) 0.6 62.6 0.0 0.5 (46.1) 0 0.5 8.3 7.1 0.5 (3.7) 18.1 0.9 1 1.2 0.3 (2.3) 1.5 1.2 (0.1) 1.4 2 0.7 1.4 0.5 0.5 0.1 0.3 1.7 (0.2) 0.1
Operating Cash Flow 199 992 367 209 191 723 542 235 334 686 425 115 (25) 410 204 263 161 313.7 243.9 223.2 292.2 325.6 229.5 310.5 (81.9) 447.8 123.8 412.6 31.3 276.6 (29.9) 43.7 24.2 162.3 40.2 12.4 (26.1) 202.4 32.9 138.4 75.6 17.6 17.4 12.3 30.2 (8.7) 34.1 10.3 12.5 (1.1) 15.3 10.3 14.0 (23.9) 32.2 11.9 35.5 34.3 4.6 2.4 18.8 31.2 14.6 25.7 5.9 6.9 14.6 8.1 12.5 17.7 15.9 16.1 17.3 12.1 19.7 14.2 12.9 9.1 17.2 11.6 8
Investing Activities
Capital Expenditure (46) (122) 83 (39) (44) (84) (46) (46) (31) (77) (39) (38) (32) (67) (32) (30) (20) (51.5) (23) (29) (26.5) (37.7) (31.1) (34.3) (33.3) (72.7) (50.7) (32.1) (29.7) (29.1) (24.5) (22.3) (17.5) (29.2) (21.8) (19.1) (19.3) (18.5) (12.6) (10.6) (8.5) (5.0) (5.5) (6.0) (4.2) (4.2) (7.8) (4.3) (2.6) (2.8) (2.0) (3.1) (2.8) (2.6) (3.5) (4.3) (1.1) (8.5) (5.8) (5.1) (6.9) (12.1) (6.1) (5.1) (7.5) (99.9) (13.1) (19.3) (9.2) (12.5) (10.8) (15) (4.4) (3.7) (67.2) (3.5) (17.3) (3.6) (4.8) (58.3) (4.4)
Acquisitions 0 (758) (1,740) (15) 0 (153) 4 0 0 (81) (4) (223) 0 (20) 0 (69) 2 (29.9) 0.1 (3.7) (401.4) 2.2 0 (4.6) (35.7) 4.2 (19.0) (270.8) (2,710.7) (2.1) (10.8) (4.0) (34.3) (807.4) 0 (46.6) (67.6) (98.8) (63.1) (21.1) (0.2) 0.1 (0.8) (35.6) 0 0 0 0 0 0 0 0 0 (1.7) (3.0) 0 0 0 0 0 0 0 0 1.3 (33.6) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 Investing Activities (1,105) 20 (132) 0 0 0 (7) 8 12 2 0 0 0 1 0 0 0 16.7 0 2.3 5.9 0 9.4 3.3 6.4 0.5 0.3 2.3 0.8 (12.0) 0.2 1.0 7.9 (47.1) 0.6 0.2 23.8 (541.9) (0.0) 0.1 0.1 0 0 1.0 0.9 0 5.0 (0.0) (0.0) (0.1) (0.0) (0.0) (0.0) 1.4 241.8 0 2.0 0 (0.7) 1 4.5 (35.6) 1.8 (1.8) 0.2 0 0 0 0 0 0 0 0 0 0 (0.2) 0.2 0 0 54.9 (54.9)
Investing Cash Flow (1,105) (860) (1,789) (54) (44) (237) (49) (38) (19) (156) (43) (261) (32) (86) (32) (99) (18) (64.7) (22.9) (30.4) (422) (35.5) (21.7) (35.6) (62.6) (68) (69.4) (300.7) (2,739.6) (43.1) (35.1) (25.2) (43.9) (883.6) (21.2) (65.5) (63.1) (659.2) (75.7) (31.6) (8.6) (4.9) (6.3) (40.6) (3.3) (4.2) (2.8) (4.3) (2.6) (2.9) (2.1) (3.1) (2.8) (2.8) 235.3 (4.3) 0.9 (8.5) (6.5) (4.1) (2.4) (47.7) (6.1) (5.1) (7.5) (99.9) (13.1) (19.3) (9.2) (12.5) (10.8) (15) (4.4) (3.7) (67.2) (3.7) (17.1) (3.6) (4.8) (3.4) (59.3)
Financing Activities
Net Debt Issuance 1,012 249 500 731 4 (2) (4) (4) (58) (7) (325) 220 154 (123) (107) 5 195 1.7 (1.1) (199) 37 (18.2) (214.8) (284) 317.7 (332.1) 117.1 (125) 898.8 0 1,978.1 5.2 40.3 (17.4) (100.3) 89.2 (24.3) 642.1 75.6 (55.0) 109.5 (0.0) (0.1) (0.0) (0.0) (0.0) (0.0) 8.4 (10.5) (2.9) (16.5) (28.4) (0.6) (0.4) (213.1) (16.7) (36.3) (32.4) 11.4 (2.4) (5.0) 19.5 (17.5) (21.9) 31.0 89.1 1.5 0 0 (7.1) (9.3) 0.4 35 (14.8) 51.4 (8.3) 7 (3.2) (19.8) (95.4) 335.3
Stock Repurchased (242) (75) 148 (50) (98) (123) (599) (200) (175) (157) (1) (74) (178) (73) (1) (103) (296) (99.7) (199.1) 0 (1) (101.9) 0 0 (105.3) 0 0 0 0 (8.7) (0.2) (3.6) (2.9) (0.0) 0.0 0.0 (6.8) 2.3 (78.4) 0 (133.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) (0.3) (1.9) (6.0) 0 (4.4) 0 0 0 0 0 0 0 0 2.1 0 (2.1) (44) 0 0 (0.1) (1.5) (20.1) 0 (0.9) (284.6)
Dividends Paid (53) (43) (43) (44) (43) (34) (35) (35) (36) (31) (30) (31) (31) (28) (28) (27) (28) (23.1) (23) (23) (23) (23.3) (22.8) (23.4) (23) (23.5) (23.9) (22.6) (11.7) (11.6) (11.6) (11.6) (11.5) (11.5) (11.5) (9.6) (9.6) (8.9) (9.0) (7.2) (7.4) (0.5) (0.5) (0.5) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.5) (0.4) (0.6) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.4) (0.3) (0.2) (0.2) (0.2) (0.3) (0.2) (0.3) (0.2) (0.2) (0.3) (0.2) (0.3) (0.3) (0.2) (0.3) (0.3) 0 0 0 0
Other Financing Activities (61) (7) (152) (11) (35) (3) (48) 5 (20) (115) 2 (13) (17) (89) (3) 2 (2) (98.6) 2.4 1 (5.1) (114.8) 0.3 0.4 (5.9) 0 (2.2) (9.3) (4.1) 3.1 6.0 0.4 (0.1) 1.5 0.2 1.5 1.3 3.3 1.6 0.1 (8.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.9 0.9 0.1 (0.9) (2.1) 0.8 11.4 0 0.1 0 0 0 0 (0.1) 0.1 (0.1) (0.4) 0 0.1 (0.1)
Financing Cash Flow 656 124 453 626 (172) (162) (686) (234) (289) (310) (353) 102 (72) (313) (139) (123) (133) (219.7) (220.8) (220.2) 7.7 (258.2) (237.3) (307) 183.5 (355.6) 91.0 (156.9) 883.0 (17.2) 1,972.5 (5.9) 28.7 (27.4) (111.6) 81.1 (39.5) 636.5 (10.2) (62.1) (40.0) 2.0 11.5 4.5 8.3 0.2 12.8 10.1 (10.6) (3.1) (16.2) (27.9) (0.6) 0.7 (213) (15.4) (36.7) (34.3) 5.3 (2.6) (6.4) 12.5 (7.6) (19.6) 3 87.1 2.6 12.2 0.3 (4.1) (7.5) (1.5) (9.3) (15.1) 51.1 (8.6) 5.1 (5.8) (14.4) (6.1) 50.6
Cash Position
Net Change in Cash (258) 261 (971) 801 (17) 305 (185) (44) 19 228 21 (46) (124) 27 13 13 15 16.6 2.9 (30) (115.2) 39.4 (28.6) (28) 11.7 16.8 126.0 (51.5) (1,829.5) 207.0 1,889.8 (4.3) 16.5 5.3 (100.4) 48.3 (118.3) 148.1 (52.6) 40.2 36.6 19.2 18.7 (27.1) 36.8 (12.3) 43.9 17.7 (4.1) (6.4) 1.2 (20.2) 10.7 (26.4) 53.9 (7.3) (0.6) (5.0) 4.2 (7.9) 7.7 (0.4) 0.9 1.9 1.3 (6.4) 4.6 1 3.6 0.7 (2.8) (0.9) 3.3 (6.7) 3.6 (8.6) 1 (0.9) (1.7) (6.1) 50.6
Cash at Beginning 789 528 1,499 698 715 410 595 639 620 392 371 417 541 514 501 488 473 456.4 453.5 483.5 598.7 559.3 587.9 615.9 604.2 587.4 461.4 512.9 2,342.4 2,135.4 245.6 249.9 233.4 228.1 328.5 280.2 398.5 250.4 302.9 262.8 226.2 86.9 68.2 95.3 58.1 70.3 26.4 8.7 12.8 19.2 18.0 38.2 27.5 53.9 0.1 7.4 8.0 11.1 6.9 14.7 7.1 7.5 6.6 4.6 3.3 0 0 0 0.8 0 0 0 0.6 0 0 0 0.2 0 0 0 1
Cash at End 531 789 528 1,499 698 715 410 595 639 620 392 371 417 541 514 501 488 473 456.4 453.5 483.5 598.7 559.3 587.9 615.9 604.2 587.4 461.4 512.9 2,342.4 2,135.4 245.6 249.9 233.4 228.1 328.5 280.2 398.5 250.4 302.9 262.8 106.1 86.9 68.2 94.8 58.1 70.3 26.4 8.7 12.8 19.2 18.0 38.2 27.5 53.9 0.1 7.4 6.1 11.1 6.9 14.7 7.1 7.5 6.5 4.6 (6.4) 4.6 1 4.4 0.7 (2.8) (0.9) 3.9 (6.7) 3.6 (8.6) 1.2 (0.9) (1.7) (6.1) 51.6
Free Cash Flow 153 870 450 170 147 639 496 189 303 609 386 77 (57) 343 172 233 141 262.2 220.9 194.2 265.7 287.9 198.4 276.2 (115.2) 375.1 73.0 380.4 1.6 247.6 (54.4) 21.4 6.7 133.1 18.4 (6.7) (45.4) 183.9 20.3 127.8 67.1 12.6 11.9 6.3 26.0 (13.0) 26.3 6.1 10.0 (3.9) 13.3 7.2 11.2 (26.5) 28.7 7.6 34.4 25.8 (1.2) (2.6) 11.9 19.1 8.5 20.6 (1.6) (93) 1.5 (11.2) 3.3 5.2 5.1 1.1 12.9 8.4 (47.5) 10.7 (4.4) 5.5 12.4 (46.7) 3.6
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 2000 Q1
Income Statement
Revenue 2,950 2,965 2,886 2,706 2,610 2,583 2,663 2,644 2,497 2,526 2,550 2,407 2,194 2,306 2,081 2,048 1,927 2,072.6 1,907 2,012 1,830 2,023.7 1,865.1 1,737.4 1,929.9 2,368.4 2,001.7 2,236.3 1,593.6 1,117.9 1,077.8 1,111.7 1,056.2 1,075.5 957.9 932.3 916.0 760.0 675.6 723.6 772.0 832.8 809.5 847.0 818.6 820.9 797.3 731.1 695.2 681.5 631.4 638.0 615.5 610.4 587.6 609.8 583.3 534.6 498.8 478.9 455.3 393.2 375.7 374.1 363.9 359.2 330.5 334.0 378.0 405.2 396.0 390.2 383.3 365.3 354.8 325.7 314.3 294.4 268.9 261.9 262.4 269.4 255.7 266.3 241.8 224.4 202.9 206.5 188.2 206.4 174.9 177.6 179.8 47.0 194.1 215.3 264.8 255.2 249.2 258.9
Gross Profit 1,061 889 1,002 938 900 797 880 874 815 764 792 723 665 652 648 645 595 652.4 603 580 534 505.5 566.2 486.7 578.7 674.9 599.4 614.7 389 297.0 302 324.0 310.9 268.4 253.2 274.0 269.7 219.2 212.5 237.4 255.2 267.6 257.1 267.8 255.4 254.3 247.5 224.7 209.6 200.1 188.1 192.9 182.9 180.5 171.3 173.4 169.4 147.3 147.2 142.7 133.2 118.0 109.2 113.5 108.4 100.4 94.8 91.7 107.2 105.8 107.7 108.5 105.2 96.5 95.7 90.8 86.6 78.7 66.2 76.7 75.1 69.4 67.0 66.2 57.0 55.1 49.9 52.7 47.5 53.2 47.6 46.1 45.4 19.9 53.6 61.4 72.7 74.0 74.1 84.0
Operating Income 517 373 491 472 474 334 433 430 412 308 370 312 276 247 261 264 239 264.1 217 203 192 161.1 206.7 159.4 217.3 226.1 169.1 200.6 67.3 93.5 125.2 123.5 131.3 91.2 101.7 113.4 114.5 62.8 120.1 133.3 142.2 151.2 152.1 155.9 148.4 137.0 136.0 132.3 121.8 111.2 109.9 112.6 103.7 100.5 96.8 100.9 94.1 72.5 75.5 56.4 66.4 51.3 50.6 49.7 51.2 41.8 45.8 36.7 55.7 50.3 52.5 55.9 53.9 46.2 45.6 45.8 42.3 36.4 25.5 35.5 32.3 29.6 27.3 26.3 18.4 16.2 9.6 18.1 11.5 14.9 13.8 12.6 13.3 (10.6) 18.6 24.5 26.3 27.3 27.9 35.1
Net Income 362 202 310 336 322 212 283 289 272 215 240 191 169 158 160 166 149 190.2 131 125 112 87.9 128.1 86.8 111.6 135.7 91.1 104.1 (4.5) 34.4 87.7 84.4 88.4 48.9 67.4 72.0 73.9 37.8 82.4 90.5 94.2 101.8 99.2 101.5 96.2 92.7 90.2 88.7 80.1 74.0 73.9 74.6 69.6 64.8 63.0 64.7 59.3 46.3 46.6 36.3 41.0 31.0 30.5 31.2 30.4 24.2 27.3 30.8 32.7 31.1 33.2 33.8 32.5 28.7 27.2 28.1 25.5 26.2 17.4 21.1 20.0 16.3 15.1 15.2 9.2 9.2 9.4 9.0 4.8 5.9 5.5 5.2 4.8 37.1 8.0 10.4 4.5 (3.5) 8.0 16.4
EPS (Diluted) 2.12 1.18 1.81 1.96 1.88 1.23 1.63 1.64 1.53 1.20 1.34 1.06 0.94 0.87 0.88 0.91 0.81 1.02 0.69 0.66 0.59 0.46 0.67 0.46 0.58 0.71 0.48 0.54 -0.04 0.36 0.91 0.87 0.92 0.51 0.70 0.75 0.77 0.42 0.91 1.00 1.02 1.05 1.02 1.04 0.99 0.95 0.93 0.91 0.83 0.76 0.76 0.77 0.72 0.67 0.65 0.67 0.61 0.48 0.48 0.38 0.43 0.32 0.32 0.33 0.32 0.25 0.28 0.32 0.34 0.32 0.34 0.35 0.33 0.29 0.28 0.28 0.26 0.27 0.18 0.22 0.21 0.17 0.16 0.16 0.10 0.10 0.10 0.10 0.06 0.07 0.07 0.06 0.06 0.43 0.09 0.12 0.05 -0.04 0.09 0.19
Balance Sheet
Cash & Equivalents 531 789 528 1,486 689 706 401 590 634 620 385 364 410 541 514 501 488 473 456.4 453.5 483.5 599 559.3 587.9 615.9 604.2 587.4 461.4 512.9 580.9 411.4 245.6 249.9 233.4 228.1 328.5 280.2 398.5 250.4 302.9 262.8 166.5 178.9 188.7 121.3 98.1 158.0 94.8 58.1 70.3 8.7 12.8 19.2 18.0 0.1 7.4 8.0 6.1 11.1 6.9 14.7 7.1 7.5 6.5 4.6 9 9.8 5.1 4.4 0.8 0.3 2.9 4 0.6 6.7 3.2 1.2 0.2 1.2 2.8 0.3 1 0
Total Assets 23,196 22,069 21,527 20,391 19,096 18,702 18,644 18,876 18,747 18,988 18,800 18,985 18,669 18,516 18,262 18,333 18,438 18,454 18,351.9 18,512.4 18,543.2 18,454.5 18,444.4 18,465.4 18,773.1 18,886.2 18,900.9 18,942.6 19,077.9 8,649.2 8,553.2 6,677.6 6,875.8 6,580.0 6,449.6 6,438.7 6,030.9 6,581.0 3,428.2 3,379.2 3,380.8 1,632.2 1,638.2 1,585.8 1,460.2 1,420.9 1,102.8 681.1 654.0 656.3 610.2 609.6 588.9 605.4 897.2 905.8 956.1 984.0 1,006.9 998.1 1,008.2 996.7 605.6 606.4 609.5 596.2 476.5 457.4 434.3 410.9 399 383.2 370 363.2 356.9 280.7 278.7 263.4 268.6 272 274.9 187.7 175.6
Total Debt 6,917 6,248 5,285 4,784 4,007 3,980 4,017 3,997 4,000 4,069 4,047 4,390 4,164 4,002 4,075 4,213 4,239 4,058 4,071 4,080.2 4,277.2 4,239 4,254.7 4,465.8 4,747.9 4,429.3 4,745.3 4,633.2 4,962.6 3,856.9 3,865.1 1,884.9 1,920.6 1,870.5 1,873.9 1,985.3 1,870.0 1,892.8 819.9 744.3 802.0 407.9 419.4 391.8 351.9 362.5 150 190.2 190.2 193.4 181.8 192.3 195.2 211.6 455.0 471.7 507.9 540.2 572.6 561.2 563.6 568.6 441.4 450.3 470.5 573.6 379.8 376.2 364.9 364.9 370 377 378.7 341.7 356.4 304.6 312.9 305.9 292.7 329.4 422.7 78.1 107.9
Stockholders' Equity 11,151 11,190 11,095 10,801 10,368 10,091 10,250 10,477 10,462 10,487 10,326 10,188 10,085 10,102 9,881 9,905 10,049 10,201 10,156.6 10,294.4 10,144.1 10,122.3 10,016.9 9,845.6 9,761.8 9,956.5 9,696.4 9,801.8 9,687.8 2,865.1 2,895.2 2,857.3 2,969.1 2,808.9 2,717.7 2,566.9 2,351.6 2,206.0 1,727.1 1,722.5 1,676.6 804.1 799.1 776.9 701.9 659.4 585.7 268.8 252.0 248.3 219.5 208.6 199.3 197.1 214.9 210.6 200.1 196.4 189.1 198.5 195.2 181.9 12.9 (2.5) (19.4) (33.9) (45) (56.6) (66.7) (79.3) (88.2) (100) (110.6) (76.2) (85.5) (93.7) (102.1) (108.7) (114.4) (127.4) (226.8) 46.8 11
Cash Flow
Operating Cash Flow 199 992 367 209 191 723 542 235 334 686 425 115 (25) 410 204 263 161 313.7 243.9 223.2 292.2 325.6 229.5 310.5 (81.9) 447.8 123.8 412.6 31.3 276.6 (29.9) 43.7 24.2 162.3 40.2 12.4 (26.1) 202.4 32.9 138.4 75.6 17.6 17.4 12.3 30.2 (8.7) 34.1 10.3 12.5 (1.1) 15.3 10.3 14.0 (23.9) 32.2 11.9 35.5 34.3 4.6 2.4 18.8 31.2 14.6 25.7 5.9 6.9 14.6 8.1 12.5 17.7 15.9 16.1 17.3 12.1 19.7 14.2 12.9 9.1 17.2 11.6 8
Capital Expenditure (46) (122) 83 (39) (44) (84) (46) (46) (31) (77) (39) (38) (32) (67) (32) (30) (20) (51.5) (23) (29) (26.5) (37.7) (31.1) (34.3) (33.3) (72.7) (50.7) (32.1) (29.7) (29.1) (24.5) (22.3) (17.5) (29.2) (21.8) (19.1) (19.3) (18.5) (12.6) (10.6) (8.5) (5.0) (5.5) (6.0) (4.2) (4.2) (7.8) (4.3) (2.6) (2.8) (2.0) (3.1) (2.8) (2.6) (3.5) (4.3) (1.1) (8.5) (5.8) (5.1) (6.9) (12.1) (6.1) (5.1) (7.5) (99.9) (13.1) (19.3) (9.2) (12.5) (10.8) (15) (4.4) (3.7) (67.2) (3.5) (17.3) (3.6) (4.8) (58.3) (4.4)
Free Cash Flow 153 870 450 170 147 639 496 189 303 609 386 77 (57) 343 172 233 141 262.2 220.9 194.2 265.7 287.9 198.4 276.2 (115.2) 375.1 73.0 380.4 1.6 247.6 (54.4) 21.4 6.7 133.1 18.4 (6.7) (45.4) 183.9 20.3 127.8 67.1 12.6 11.9 6.3 26.0 (13.0) 26.3 6.1 10.0 (3.9) 13.3 7.2 11.2 (26.5) 28.7 7.6 34.4 25.8 (1.2) (2.6) 11.9 19.1 8.5 20.6 (1.6) (93) 1.5 (11.2) 3.3 5.2 5.1 1.1 12.9 8.4 (47.5) 10.7 (4.4) 5.5 12.4 (46.7) 3.6