| Market Cap | $174.93B | |
| Enterprise Value | $203.64B | |
| Revenue | $25.41B | +1.1% |
| Gross Profit | — | — |
| EBITDA | $12.68B | +1.7% |
| Net Income | $7.33B | +5.8% |
| Diluted EPS | $11.98 | +8.0% |
| Free Cash Flow | $6.50B | −6.7% |
| DPS (FY2025) | $5.44 |
| Trailing yield | 1.85% |
| Payout ratio | 45.3% |
| Growth streak | 10 yrs |
| 5y DPS growth | 7.0% |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | $5.44 | +3.0% | reported |
| FY20242024-12-31 | $5.28 | +1.5% | reported |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Operating Margin | 36.49% | 36.91% | 36.32% | 38.16% | 37.30% | 39.40% | 40.11% | 42.83% | 39.87% | 37.65% | 40.05% | 40.17% | 88% | 82% | |
| EBITDA Margin | 44.43% | 46.14% | 46.54% | 48.07% | 46.90% | 49.61% | 51.42% | 52.95% | 48.90% | 47.27% | 49.94% | 50.23% | 79% | 71% | |
| NOPAT Margin | — | — | — | — | — | 30.11% | 30.73% | 32.95% | 30.75% | 29.18% | 30.73% | 31.28% | 79% | 83% | |
| Net Margin | 21.59% | 21.88% | 21.23% | 50.43% | 26.13% | 27.27% | 27.38% | 29.92% | 28.13% | 26.45% | 27.82% | 29.12% | 79% | 84% | |
| FCF Margin | — | — | — | 18.79% | 22.99% | 23.75% | 28.74% | 27.96% | 23.08% | 19.79% | 24.31% | 22.44% | 28% | 87% | |
| FCFF Margin | — | — | — | — | — | — | — | — | 27.02% | 24.09% | 28.32% | 26.59% | 38% | 80% | |
| FCFE Margin | — | — | — | 31.67% | 53.18% | 42.11% | 49.23% | 47.23% | 47.53% | 26.42% | 27.60% | 30.58% | 28% | 90% | |
| OCF Margin | — | — | — | 34.04% | 38.04% | 39.66% | 43.72% | 41.42% | 37.64% | 34.74% | 38.54% | 37.90% | 39% | 72% | |
| Capex Intensity | 18.12% | 21.32% | 17.58% | 15.24% | 15.05% | 15.91% | 14.98% | 13.47% | 14.55% | 14.95% | 14.24% | 15.47% | 63% | 48% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||||||
| ▸Leverage · 9 ratios | |||||||||||||||
| ▸Working capital · 3 ratios | |||||||||||||||
| ▸Capital allocation · 5 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
The five drivers multiply to 39.2% vs reported ROE 40.4%. 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 | $23.99B | $21.81B | $19.94B | $21.24B | $22.83B | $21.71B | $19.53B | $21.80B | $24.88B | $24.12B | $24.25B | $24.51B |
| YoY % | -9.1% | -8.6% | +6.5% | +7.5% | -4.9% | -10.0% | +11.6% | +14.1% | -3.0% | +0.5% | +1.1% | |
| Total Operating Expenses | — | — | — | — | — | $13.15B | $11.70B | $12.47B | $14.96B | $15.04B | $14.54B | $14.66B |
| YoY % | -11.1% | +6.6% | +20.0% | +0.5% | -3.3% | +0.9% | ||||||
| Operating Income | $8.75B | $8.05B | $7.24B | $8.11B | $8.52B | $8.55B | $7.83B | $9.34B | $9.92B | $9.08B | $9.71B | $9.85B |
| YoY % | -8.0% | -10.0% | +11.9% | +5.1% | +0.4% | -8.4% | +19.2% | +6.2% | -8.4% | +6.9% | +1.4% | |
| Interest Expense | — | — | — | — | — | — | — | — | $1.27B | $1.34B | $1.27B | $1.31B |
| YoY % | +5.4% | -5.3% | +3.2% | |||||||||
| Interest & Investment Income | $4.0M | $5.0M | $11.0M | $16.0M | $30.0M | $32.0M | $12.0M | $4.0M | $23.0M | $52.0M | $52.0M | — |
| YoY % | +25.0% | +120.0% | +45.5% | +87.5% | +6.7% | -62.5% | -66.7% | +475.0% | +126.1% | 0.0% | ||
| Other Non-Operating Income | $151.0M | $226.0M | $221.0M | $245.0M | $94.0M | $243.0M | $287.0M | $297.0M | $426.0M | $491.0M | $350.0M | $629.0M |
| YoY % | +49.7% | -2.2% | +10.9% | -61.6% | +158.5% | +18.1% | +3.5% | +43.4% | +15.3% | -28.7% | +79.7% | |
| Gains on Sale of Real Estate | — | — | — | — | — | — | $115.0M | $98.0M | $176.0M | — | — | — |
| YoY % | -14.8% | +79.6% | ||||||||||
| Impairment of Real Estate | — | — | — | — | — | — | $278.0M | — | — | — | — | — |
| Pretax Income | — | — | — | — | — | $7.75B | $6.98B | $8.48B | $9.07B | $8.23B | $8.79B | $9.17B |
| YoY % | -9.9% | +21.5% | +7.0% | -9.2% | +6.8% | +4.2% | ||||||
| Income Tax | $3.16B | $2.88B | $2.53B | -$3.08B | $1.77B | $1.83B | $1.63B | $1.96B | $2.07B | $1.85B | $2.05B | $2.03B |
| YoY % | -8.8% | -12.2% | +3.0% | -10.8% | +19.9% | +6.1% | -10.6% | +10.4% | -0.9% | |||
| Net Income | $5.18B | $4.77B | $4.23B | $10.71B | $5.97B | $5.92B | $5.35B | $6.52B | $7.00B | $6.38B | $6.75B | $7.14B |
| YoY % | -7.9% | -11.3% | +153.1% | -44.3% | -0.8% | -9.6% | +21.9% | +7.3% | -8.8% | +5.8% | +5.8% | |
| EPS (Basic) | $5.77 | $5.51 | $5.09 | $13.42 | $7.95 | $8.41 | $7.90 | $9.98 | $11.24 | $10.47 | $11.10 | $12.00 |
| YoY % | -4.5% | -7.6% | +163.7% | -40.8% | +5.8% | -6.1% | +26.3% | +12.6% | -6.9% | +6.0% | +8.1% | |
| EPS (Diluted) | $5.75 | $5.49 | $5.07 | $13.36 | $7.91 | $8.38 | $7.88 | $9.95 | $11.21 | $10.45 | $11.09 | $11.98 |
| YoY % | -4.5% | -7.7% | +163.5% | -40.8% | +5.9% | -6.0% | +26.3% | +12.7% | -6.8% | +6.1% | +8.0% | |
| Weighted Avg Shares (Basic) | 897.1M | 866.2M | 832.4M | 798.4M | 750.9M | 703.5M | 677.3M | 653.8M | 622.7M | 609.2M | 607.6M | 595.0M |
| YoY % | -3.4% | -3.9% | -4.1% | -5.9% | -6.3% | -3.7% | -3.5% | -4.8% | -2.2% | -0.3% | -2.1% | |
| Weighted Avg Shares (Diluted) | 901.1M | 869.4M | 835.4M | 801.7M | 754.3M | 706.1M | 679.1M | 655.4M | 624.0M | 610.2M | 608.6M | 595.9M |
| YoY % | -3.5% | -3.9% | -4.0% | -5.9% | -6.4% | -3.8% | -3.5% | -4.8% | -2.2% | -0.3% | -2.1% | |
| Dividends Declared per Share | $2 | $2 | $2 | $2 | $3 | $4 | $4 | $4 | $5 | $5 | $5 | $5 |
| YoY % | +15.2% | +2.5% | +10.0% | +23.4% | +20.9% | +4.9% | +10.6% | +18.4% | +2.4% | +1.5% | +3.0% |
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.
| FY20232023-12-31 | $5.20 | +2.4% | reported |
| FY20222022-12-31 | $5.08 | +18.4% | reported |
| FY20212021-12-31 | $4.29 | +10.6% | reported |
| FY20202020-12-31 | $3.88 | +4.9% | reported |
| FY20192019-12-31 | $3.70 | +20.9% | reported |
| FY20182018-12-31 | $3.06 | +23.4% | reported |
| FY20172017-12-31 | $2.48 | +10.0% | reported |
| FY20162016-12-31 | $2.25 | +2.5% | reported |
| Ex-date | Amount | Pay date | Freq | Source |
|---|---|---|---|---|
| 2026-05-29 | $1.38 | — | quarterly | licensed |
| 2026-02-27 | $1.38 | 2026-03-31 | quarterly | licensed |
| 2025-12-05 | $1.38 | 2025-12-30 | quarterly | licensed |
| 2025-08-29 | $1.38 | — | quarterly | licensed |
| 2025-05-30 | $1.34 | 2025-06-30 | quarterly | licensed |
| 2025-02-28 | $1.34 | — | quarterly | licensed |
| 2024-12-09 | $1.34 | — | quarterly | licensed |
| 2024-08-30 | $1.34 | — | quarterly | licensed |
