| Market Cap | $29.66B | |
| Enterprise Value | $57.86B | |
| Revenue | $21.09B | +3.6% |
| Gross Profit | $20.36B | — |
| EBITDA | $8.31B | +0.2% |
| Net Income | $3.20B | +11.1% |
| Diluted EPS | $6.34 | +17.8% |
| Free Cash Flow | $4.13B | −15.1% |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | 85.85% | 86.09% | 86.43% | 87.13% | 87.21% | — | — | — | — | — | — | — | — | — | |
| Operating Margin | 23.88% | 24.95% | 26.25% | 26.90% | 30.10% | 15.74% | 12.47% | 14.10% | 21.09% | 26.26% | 28.74% | 27.45% | 79% | 95% | |
| EBITDA Margin | 31.86% | 32.89% | 33.90% | 34.69% | 39.65% | 33.13% | 34.40% | 34.12% | 39.19% | 42.82% | 42.86% | 41.46% | 79% | 95% | |
| NOPAT Margin | 15.12% | 16.05% | 16.12% | 23.77% | 22.79% | 12.86% | 10.38% | 11.03% | 17.10% | 21.18% | 24.65% | 22.23% | 71% | 94% | |
| Net Margin | 14.88% | 13.55% | 16.89% | 21.88% | 20.38% | 8.74% | 6.45% | 8.22% | 14.26% | 16.07% | 15.31% | 16.42% | 71% | 89% | |
| FCF Margin | — | — | — | — | 20.47% | 20.29% | 21.86% | 17.71% | 17.70% | 19.77% | 24.75% | 20.28% | 44% | 92% | |
| FCFF Margin | — | — | — | — | — | — | — | — | 21.11% | 24.01% | 29.94% | 26.14% | 63% | 91% | |
| FCFE Margin | — | — | — | — | 107.01% | 216.22% | 81.73% | 68.10% | 37.21% | 41.30% | 59.26% | 49.23% | 31% | 96% | |
| OCF Margin | — | — | — | — | 26.65% | 27.34% | 27.92% | 24.86% | 26.04% | 27.04% | 32.42% | 28.60% | 81% | 91% | |
| Gross Profitability | 46.72% | 48.43% | 48.84% | 48.24% | 45.09% | — | — | — | — | — | — | — | — | — | |
| Capex Intensity | 5.76% | 6.83% | 5.27% | 5.04% | 6.18% | 7.05% | 6.06% | 7.15% | 8.34% | 7.27% | 7.67% | 8.32% | 88% | 84% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||||||
| ▸Leverage · 8 ratios | |||||||||||||||
| ▸Working capital · 5 ratios | |||||||||||||||
| ▸Capital allocation · 2 ratios | |||||||||||||||
| ▸Per share · 3 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 13.7% vs reported ROE 13.2%. 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 | $5.07B | $5.25B | $5.50B | $5.70B | $5.82B | $10.22B | $14.85B | $16.23B | $17.74B | $19.09B | $20.46B | $21.19B |
| YoY % | +3.7% | +4.8% | +3.5% | +2.2% | +75.6% | +45.3% | +9.3% | +9.3% | +7.6% | +7.1% | +3.6% | |
| Cost of Revenue | $717.0M | $731.0M | $747.0M | $733.0M | $745.0M | — | — | — | — | — | — | — |
| YoY % | +2.0% | +2.2% | -1.9% | +1.6% | ||||||||
| SG&A Expense | $975.0M | $1.03B | $1.10B | $1.15B | $1.23B | $3.28B | $5.65B | $5.81B | $6.06B | $6.58B | $6.56B | $6.88B |
| YoY % | +6.1% | +6.5% | +4.5% | +6.8% | +167.4% | +72.1% | +2.8% | +4.3% | +8.5% | -0.2% | +4.9% | |
| Total Operating Expenses | $3.86B | $3.94B | $4.06B | $4.16B | $4.07B | $8.58B | $13.00B | $13.94B | $14.00B | $14.08B | $14.58B | $15.38B |
| YoY % | +2.3% | +3.0% | +2.6% | -2.3% | +110.8% | +51.6% | +7.2% | +0.4% | +0.6% | +3.5% | +5.5% | |
| Operating Income | $1.21B | $1.31B | $1.45B | $1.53B | $1.75B | $1.61B | $1.85B | $2.29B | $3.74B | $5.01B | $5.88B | $5.82B |
| YoY % | +8.3% | +10.2% | +6.0% | +14.4% | -8.2% | +15.1% | +23.5% | +63.5% | +34.1% | +17.3% | -1.0% | |
| Interest Expense | — | — | — | — | — | — | — | — | $746.0M | $1.00B | $1.24B | $1.53B |
| YoY % | +34.6% | +23.3% | +23.7% | |||||||||
| Interest & Investment Income | — | — | — | $1.0M | $4.0M | $34.0M | $7.0M | $3.0M | $13.0M | $28.0M | $43.0M | $38.0M |
| YoY % | +300.0% | +750.0% | -79.4% | -57.1% | +333.3% | +115.4% | +53.6% | -11.6% | ||||
| Other Non-Operating Income | — | — | — | $1.0M | $5.0M | -$6.0M | $28.0M | $71.0M | -$94.0M | -$140.0M | -$178.0M | -$61.0M |
| YoY % | +400.0% | +153.6% | ||||||||||
| Equity Method Income | $91.0M | $32.0M | $147.0M | $32.0M | $10.0M | $29.0M | $0 | $100.0M | $220.0M | -$15.0M | -$685.0M | $37.0M |
| YoY % | -64.8% | +359.4% | -78.2% | -68.8% | +190.0% | -100.0% | +120.0% | |||||
| Impairment of Real Estate | — | — | — | — | — | — | $124.0M | $15.0M | $14.0M | $0 | — | $0 |
| YoY % | -87.9% | -6.7% | -100.0% | |||||||||
| Pretax Income | $1.05B | $1.06B | $1.27B | $1.36B | $1.55B | $1.08B | $1.17B | $1.67B | $2.91B | $3.90B | $4.51B | $4.26B |
| YoY % | +1.0% | +20.6% | +6.5% | +14.5% | -30.4% | +8.1% | +42.3% | +74.8% | +33.8% | +15.6% | -5.4% | |
| Income Tax | $384.0M | $377.0M | $492.0M | $158.0M | $378.0M | $198.0M | $196.0M | $363.0M | $551.0M | $754.0M | $641.0M | $811.0M |
| YoY % | -1.8% | +30.5% | -67.9% | +139.2% | -47.6% | -1.0% | +85.2% | +51.8% | +36.8% | -15.0% | +26.5% | |
| Income from Continuing Operations | $754.0M | $712.0M | $930.0M | $1.23B | $1.19B | $914.0M | $975.0M | — | — | — | — | — |
| YoY % | -5.6% | +30.6% | +32.5% | -3.7% | -23.0% | +6.7% | ||||||
| Income from Discontinued Operations | $0 | $0 | $0 | $14.0M | $0 | $0 | — | — | — | — | — | — |
| YoY % | -100.0% | |||||||||||
| Net Income (incl. NCI) | — | — | — | $1.25B | $1.19B | $914.0M | $975.0M | $1.40B | $2.58B | $3.13B | $3.18B | $3.49B |
| YoY % | -4.7% | -23.0% | +6.7% | +43.9% | +84.0% | +21.2% | +1.6% | +9.7% | ||||
| Minority Interest (P&L) | — | — | — | $0 | $0 | $21.0M | $17.0M | $69.0M | $52.0M | $61.0M | $49.0M | $10.0M |
| YoY % | -19.0% | +305.9% | -24.6% | +17.3% | -19.7% | -79.6% | ||||||
| Net Income | $754.0M | $712.0M | $930.0M | $1.25B | $1.19B | $893.0M | $958.0M | $1.33B | $2.53B | $3.07B | $3.13B | $3.48B |
| YoY % | -5.6% | +30.6% | +34.0% | -4.7% | -24.8% | +7.3% | +39.2% | +89.7% | +21.3% | +2.1% | +11.1% | |
| EPS (Basic) | $3.03 | $3.04 | $2.11 | $2.95 | $2.93 | $1.74 | $1.42 | $2.01 | $3.94 | $5.02 | $5.41 | $6.36 |
| YoY % | +0.3% | -30.6% | +39.8% | -0.7% | -40.6% | -18.4% | +41.5% | +96.0% | +27.4% | +7.8% | +17.6% | |
| EPS (Diluted) | $2.98 | $2.99 | $2.08 | $2.89 | $2.87 | $1.71 | $1.40 | $1.99 | $3.91 | $4.98 | $5.38 | $6.34 |
| YoY % | +0.3% | -30.4% | +38.9% | -0.7% | -40.4% | -18.1% | +42.1% | +96.5% | +27.4% | +8.0% | +17.8% | |
| Weighted Avg Shares (Basic) | 248.6M | 233.9M | 440.6M | 422.3M | 405.5M | 512.3M | 672.1M | 662.6M | 642.3M | 611.7M | 578.7M | 547.1M |
| YoY % | -5.9% | +88.4% | -4.2% | -4.0% | +26.3% | +31.2% | -1.4% | -3.1% | -4.8% | -5.4% | -5.5% | |
| Weighted Avg Shares (Diluted) | 252.7M | 238.0M | 447.8M | 431.3M | 413.7M | 522.6M | 683.4M | 671.6M | 647.9M | 615.9M | 582.1M | 549.0M |
| YoY % | -5.8% | +88.2% | -3.7% | -4.1% | +26.3% | +30.8% | -1.7% | -3.5% | -4.9% | -5.5% | -5.7% |
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.
