| Market Cap | $25.68B | |
| Enterprise Value | $36.62B | |
| Revenue | $4.78B | +13.9% |
| Gross Profit | — | — |
| EBITDA | $2.62B | +11.7% |
| Net Income | $1.18B | +6.6% |
| Diluted EPS | $15.03 | +7.6% |
| Free Cash Flow | $1.31B | −26.4% |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | 98.90% | 95.06% | 95.00% | 95.70% | — | — | — | — | — | — | — | — | — | — | |
| Operating Margin | 47.14% | 39.20% | 41.18% | 39.29% | 44.82% | 46.49% | 40.70% | 43.85% | 42.21% | 44.09% | 44.96% | 44.04% | 54% | 98% | |
| EBITDA Margin | 56.51% | 50.56% | 52.27% | 51.05% | 56.10% | 56.84% | 51.37% | 53.88% | 51.62% | 53.05% | 53.80% | 52.72% | 46% | 97% | |
| NOPAT Margin | 33.89% | 26.51% | 28.97% | 32.54% | 33.21% | 38.61% | 32.48% | 33.20% | 31.58% | 32.67% | 32.58% | 30.62% | 21% | 97% | |
| Net Margin | 30.74% | 21.28% | 24.70% | 32.90% | 33.35% | 33.79% | 29.48% | 29.63% | 27.85% | 26.13% | 25.25% | 23.62% | 13% | 95% | |
| FCF Margin | 48.46% | 41.85% | 35.45% | 27.12% | 33.78% | 41.03% | 58.36% | 38.31% | 17.61% | 51.82% | 44.42% | 28.69% | 21% | 96% | |
| FCFF Margin | — | — | — | — | — | — | — | — | 21.20% | 58.70% | 51.40% | 34.89% | 38% | 96% | |
| OCF Margin | 50.72% | 44.31% | 38.67% | 30.23% | 37.12% | 43.87% | 61.64% | 42.24% | 22.02% | 55.92% | 48.82% | 33.12% | 21% | 93% | |
| Gross Profitability | 13.91% | 20.52% | 18.07% | 19.02% | — | — | — | — | — | — | — | — | — | — | |
| Capex Intensity | 2.26% | 2.46% | 3.22% | 3.12% | 3.34% | 2.84% | 3.28% | 3.94% | 4.42% | 4.09% | 4.41% | 4.43% | 96% | 70% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||||||
| ▸Leverage · 6 ratios | |||||||||||||||
| ▸Working capital · 5 ratios | |||||||||||||||
| ▸Capital allocation · 2 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 32.8% vs reported ROE 30.5%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B | $1.70B | $1.83B | $2.25B | $2.43B | $2.65B | $2.39B | $2.83B | $3.43B | $3.76B | $3.97B | $4.53B |
| YoY % | +42.0% | +7.6% | +22.8% | +8.2% | +8.8% | -9.8% | +18.6% | +20.9% | +9.6% | +5.8% | +13.9% | |
| Cost of Revenue | $13.2M | $84.1M | $91.6M | $96.8M | — | — | — | — | — | — | — | — |
| YoY % | +537.1% | +8.9% | +5.7% | |||||||||
| SG&A Expense | $206.0M | $297.7M | $283.6M | $387.7M | $389.2M | $407.2M | $374.7M | $485.8M | $584.1M | $603.4M | $616.9M | $733.0M |
| YoY % | +44.5% | -4.7% | +36.7% | +0.4% | +4.6% | -8.0% | +29.7% | +20.2% | +3.3% | +2.2% | +18.8% | |
| Operating Income | $565.4M | $667.5M | $754.2M | $883.8M | $1.09B | $1.23B | $972.3M | $1.24B | $1.45B | $1.66B | $1.79B | $1.99B |
| YoY % | +18.1% | +13.0% | +17.2% | +23.4% | +12.9% | -21.0% | +27.8% | +16.4% | +14.5% | +7.9% | +11.6% | |
| Interest Expense | — | — | — | — | — | — | — | — | $164.7M | $348.6M | $383.0M | $403.8M |
| YoY % | +111.7% | +9.9% | +5.4% | |||||||||
| Other Non-Operating Income | $700,000 | -$2.5M | -$3.0M | $173.4M | $152.2M | -$93,000 | $10.1M | -$3.9M | -$3.0M | $16.7M | -$14.0M | -$47.0M |
| YoY % | -12.3% | |||||||||||
| Equity Method Income | -$8.6M | -$57.7M | -$36.4M | -$53.2M | -$7.1M | -$3.5M | $30.0M | $9,000 | -$1.4M | $0 | $0 | -$25.4M |
| YoY % | -100.0% | |||||||||||
| Pretax Income | $512.9M | $536.0M | $642.9M | $893.6M | $1.10B | $1.08B | $882.5M | $1.11B | $1.28B | $1.33B | $1.39B | $1.54B |
| YoY % | +4.5% | +19.9% | +39.0% | +22.6% | -1.6% | -18.1% | +25.6% | +15.0% | +3.9% | +4.5% | +11.3% | |
| Income Tax | $144.2M | $173.6M | $190.5M | $153.4M | $283.6M | $182.7M | $178.3M | $269.3M | $321.3M | $343.1M | $381.4M | $469.7M |
| YoY % | +20.3% | +9.8% | -19.5% | +84.9% | -35.6% | -2.4% | +51.0% | +19.3% | +6.8% | +11.2% | +23.2% | |
| Net Income (incl. NCI) | — | — | — | — | — | — | — | — | $954.3M | $981.9M | $1.00B | $1.07B |
| YoY % | +2.9% | +2.2% | +6.8% | |||||||||
| Minority Interest (P&L) | — | — | — | — | — | — | — | — | $0 | $0 | -$14,000 | $2.1M |
| Net Income | $368.7M | $362.4M | $452.4M | $740.2M | $811.5M | $895.1M | $704.2M | $839.5M | $954.3M | $981.9M | $1.00B | $1.07B |
| YoY % | -1.7% | +24.8% | +63.6% | +9.6% | +10.3% | -21.3% | +19.2% | +13.7% | +2.9% | +2.2% | +6.6% | |
| Net Income to Common | — | — | — | — | — | — | — | — | — | $981.9M | $1.00B | $1.07B |
| YoY % | +2.2% | +6.4% | ||||||||||
| EPS (Basic) | $4.37 | $3.94 | $4.89 | $8.12 | $9.14 | $10.36 | $8.38 | $10.23 | $12.62 | $13.42 | $14.27 | $15.23 |
| YoY % | -9.8% | +24.1% | +66.1% | +12.6% | +13.3% | -19.1% | +22.1% | +23.4% | +6.3% | +6.3% | +6.7% | |
| EPS (Diluted) | $4.24 | $3.85 | $4.75 | $7.91 | $8.81 | $9.94 | $8.12 | $9.99 | $12.42 | $13.20 | $13.97 | $15.03 |
| YoY % | -9.2% | +23.4% | +66.5% | +11.4% | +12.8% | -18.3% | +23.0% | +24.3% | +6.3% | +5.8% | +7.6% | |
| Weighted Avg Shares (Basic) | 84.3M | 92.0M | 92.6M | 91.1M | 88.8M | 86.4M | 84.0M | 82.1M | 75.6M | 73.2M | 70.3M | 70.1M |
| YoY % | +9.1% | +0.6% | -1.6% | -2.6% | -2.6% | -2.8% | -2.3% | -7.9% | -3.2% | -3.9% | -0.3% | |
| Weighted Avg Shares (Diluted) | 87.0M | 94.1M | 95.2M | 93.6M | 92.2M | 90.1M | 86.7M | 84.1M | 76.9M | 74.4M | 71.8M | 71.1M |
| YoY % | +8.2% | +1.1% | -1.7% | -1.5% | -2.3% | -3.7% | -3.1% | -8.6% | -3.2% | -3.4% | -1.1% |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
