L'Air Liquide S.A. (AIQUY)
L'Air Liquide S.A., established in Paris, France, in 1902, is a worldwide leader in providing essential industrial and medical gases, cutting-edge technologies, and specialized services. Its operations extend across Europe, the Americas, Asia Pacific, the Middle East, and Africa. Through its Gas & Services division, the company delivers fundamental industrial gases, including oxygen, nitrogen, argon, hydrogen, and carbon monoxide, to heavy industries such as metallurgy, chemical processing, refining, and energy. This segment also provides a broad array of gases, application-specific equipment, and associated support to diverse sectors like materials and energy, automotive, manufacturing, food and pharmaceuticals, technology and research, as well as independent businesses and retailers. In the healthcare domain, L'Air Liquide furnishes medical gases, hygiene products, vital equipment, and care services to hospitals and for patients receiving home care. Additionally, it manufactures and distributes specialized healthcare ingredients essential for the cosmetics, pharmaceutical, and vaccine markets. Crucially, it supplies gases, materials, and services integral to the production of semiconductors, flat panel displays, and photovoltaic cells. The Engineering & Construction arm focuses on the design, development, and construction of industrial gas production facilities, both for internal use and for external clients. It further specializes in designing and building plants tailored for various energy sectors, encompassing traditional, renewable, and alternative sources. Finally, the Global Markets & Technologies segment is dedicated to developing and deploying advanced technological solutions, including specialized molecules, equipment, and services. These innovations primarily support the global energy transition, with a strong focus on sustainable transport, energy generation, and waste valorization. This segment also engages in deep technological ventures, aiding endeavors in space exploration, aerospace, and large-scale scientific initiatives. Committed to fostering clean mobility, it invests in biomethane production facilities and establishes distribution networks for natural bio-gas for vehicles and hydrogen for transport. Furthermore, it manages biomethane production specifically for the maritime industry and supplies gases to offshore oil and gas platforms, wind turbines, and for cryogenic shipping operations.
Sector: Chemicals - Specialty
Industry: Chemicals - Specialty
L'Air Liquide S.A.
OTC:AIQUYBasic Materials · Chemicals - Specialty
-1.81%$41.66
Prev close$42.43-1.81%Close$41.66
Mkt Cap$132.51B
Float634.12M
O/S3.18B
Inst Own-
SI<0.1%
EarningsFeb 17 · in 3mo
Div Yield1.87%
Dilution
Financials Summary
Revenue$28.89B
Net Income$3.77B
Total Assets$57.94B
Free Cash Flow$2.69B
Debt & Equity
Debt 34%
Equity 66%
Total Debt$15.18B
Total Equity$29.26B
Shares Outstanding
Short Interest
Split History1 split · 10 stock dividends or distributions not shown
- 2:1Forward splitJun 22, 20071 share → 2
Balance Sheet Details
Assets$57.94B
Liabilities$27.86B
Accounts Receivable$3.24B
Accounts Payable$3.35B
Inventory$2.38B
PP&E (Net)$27.8B
Goodwill$15.43B
Intangible Assets$1.74B
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 |
| Revenue | $28.89B | $30.21B | $30.82B | $33.42B | $26.05B | $22.87B | $24.47B | $23.46B | $22.72B | $20.25B | $17.66B | $17.4B | $17.21B | $17.11B | $16.14B | $15.06B | $13.37B | $14.63B | $13.18B | $12.22B | $11.65B | $10.47B | $9.37B |
| YoY Growth | -4.4% | -2.0% | -7.8% | 28.3% | 13.9% | -6.5% | 4.3% | 3.3% | 12.2% | 14.6% | 1.5% | 1.1% | 0.6% | 6.0% | 7.2% | 12.6% | -8.6% | 11.0% | 7.8% | 4.9% | 11.3% | 11.7% | - |
| Cost of Revenue | $18.56B | $11.17B | $12.45B | $15.42B | $10.48B | $8.04B | $9.1B | $9.24B | $8.62B | $7.47B | $6.58B | $6.71B | $6.68B | $6.81B | $6.43B | $5.85B | $5.09B | $6.19B | $5.08B | $4.73B | $4.41B | $8.02B | $7.13B |
| Gross Profit | $10.34B | $19.04B | $18.38B | $18B | $15.57B | $14.84B | $15.37B | $14.22B | $14.1B | $12.77B | $11.09B | $10.7B | $10.53B | $10.3B | $9.71B | $9.21B | $8.28B | $8.44B | $8.1B | $7.49B | $7.25B | $2.45B | $2.24B |
| Gross Margin | 35.8% | 63.0% | 59.6% | 53.9% | 59.8% | 64.9% | 62.8% | 60.6% | 62.1% | 63.1% | 62.8% | 61.5% | 61.2% | 60.2% | 60.1% | 61.2% | 61.9% | 57.7% | 61.5% | 61.3% | 62.2% | 23.4% | 23.9% |
| Research and Development | $470.8M | $0 | $345M | $343.88M | $339.42M | $338.3M | $353.93M | $334.95M | $326.02M | $321.55M | $314.74M | $310.28M | $295.65M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $4.25B | $4.73B | $5.73B | $5.55B | $4.88B | $4.75B | $4.95B | $4.65B | $4.65B | $4.11B | $3.3B | $2.98B | $3.14B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.07B | $0 | $0 |
| Other | -$372.46M | $13.51B | $7.2B | $7.31B | $5.88B | $5.68B | $6.11B | $5.55B | $5.84B | $4.93B | $4.45B | $4.47B | $4.26B | $7.44B | $6.88B | $6.66B | $6.09B | $6.29B | $6.1B | $5.63B | $3.53B | $1.02B | $902.91M |
| Total Operating Expenses | $4.35B | $13.51B | $13.27B | $13.21B | $11.09B | $10.76B | $11.41B | $10.54B | $10.81B | $9.37B | $8.06B | $7.76B | $7.7B | $7.44B | $6.88B | $6.66B | $6.09B | $6.29B | $6.1B | $5.63B | $5.6B | $1.02B | $902.91M |
| Operating Income (EBIT) | $5.99B | $5.52B | $5.1B | $4.79B | $4.48B | $4.08B | $4.24B | $3.85B | $3.76B | $3.38B | $3.19B | $2.94B | $2.67B | $2.7B | $2.53B | $2.37B | $1.96B | $2.22B | $2B | $1.85B | $1.69B | $1.53B | $1.34B |
| Operating Margin | 20.7% | 18.3% | 16.6% | 14.3% | 17.2% | 17.8% | 17.3% | 16.4% | 16.5% | 16.7% | 18.1% | 16.9% | 15.5% | 15.8% | 15.7% | 15.7% | 14.7% | 15.2% | 15.2% | 15.2% | 14.5% | 14.7% | 14.2% |
| Interest Expense | $92.33M | $288.5M | $562.37M | $548.87M | $372.8M | $469.38M | $578.57M | $463.24M | $638.75M | $507.9M | $358.84M | $278.9M | $339.89M | $306.03M | $284.15M | $255.57M | $247.53M | $239.38M | $200.3M | $173.5M | $211.58M | $167.92M | $123.15M |
| Interest Income | $77.04M | -$178.64M | $83.77M | $36.84M | $13.62M | $0 | $19.32M | $399.48M | $454.08M | $434.43M | $248.98M | $255.57M | $13.93M | $29.03M | $21.21M | $0 | $0 | $0 | $0 | $0 | $29.48M | $1.23M | $4.8M |
| Other Income (Expense) | -$757.89M | -$467.14M | -$459.22M | -$430.97M | -$449.84M | -$495.61M | -$522.19M | -$393.79M | -$546.42M | -$450.06M | -$292.08M | -$279.79M | -$340.09M | -$369.67M | -$332.94M | -$200.75M | -$306.59M | -$301.79M | -$260.93M | -$220.62M | -$236.92M | -$222.18M | -$119.35M |
| Income Before Tax (EBT) | $5.23B | $5.05B | $4.64B | $4.36B | $4.03B | $3.58B | $3.5B | $3.28B | $2.83B | $2.97B | $2.76B | $2.68B | $2.57B | $2.45B | $2.39B | $2.17B | $1.88B | $1.84B | $1.74B | $1.63B | $1.41B | $1.14B | $1.22B |
| Income Tax Expense | $1.32B | $1.21B | $1.09B | $1.12B | $1.02B | $757.21M | $895.1M | $815.83M | $231.45M | $834.47M | $738.56M | $757.43M | $683.19M | $622.56M | $643.55M | $572.43M | $467.93M | $448.27M | $459.77M | $468.71M | $413.89M | $278.57M | $343.1M |
| Net Income | $3.77B | $3.69B | $3.44B | $3.08B | $2.87B | $2.72B | $2.5B | $2.36B | $2.49B | $2.06B | $1.96B | $1.86B | $1.83B | $1.78B | $1.71B | $1.57B | $1.37B | $1.36B | $1.25B | $1.12B | $952.15M | $834.92M | $872.88M |
| Net Income Margin | 13.1% | 12.2% | 11.1% | 9.2% | 11.0% | 11.9% | 10.2% | 10.1% | 11.0% | 10.2% | 11.1% | 10.7% | 10.6% | 10.4% | 10.6% | 10.4% | 10.3% | 9.3% | 9.5% | 9.2% | 8.2% | 8.0% | 9.3% |
| Supplementary Data | |||||||||||||||||||||||
| EPS | 1.17 | 1.15 | 1.07 | 0.96 | 0.90 | 0.85 | 0.79 | 0.82 | 0.79 | 0.70 | 0.68 | 0.65 | 0.64 | 0.63 | 0.60 | 0.55 | 0.48 | 0.48 | 0.44 | 0.39 | 0.37 | 0.31 | 0.32 |
| Diluted EPS | 1.17 | 1.14 | 1.07 | 0.96 | 0.90 | 0.85 | 0.78 | 0.81 | 0.78 | 0.70 | 0.66 | 0.64 | 0.64 | 0.62 | 0.59 | 0.55 | 0.48 | 0.48 | 0.44 | 0.39 | 0.37 | 0.30 | 0.31 |
| Weighted Average OS | 2.88B | 2.88B | 2.87B | 2.61B | 2.60B | 2.59B | 2.59B | 2.59B | 2.58B | 2.41B | 2.34B | 2.28B | 2.28B | 2.28B | 2.28B | 2.27B | 2.25B | 2.23B | 2.27B | 2.27B | 2.24B | 2.25B | 2.25B |
| EBITDA | $8.74B | $8.14B | $7.49B | $7.9B | $6.82B | $6.36B | $6.42B | $5.62B | $5.38B | $5.2B | $4.58B | $4.34B | $4.27B | $4.13B | $3.96B | $3.69B | $3.28B | $3.22B | $3.02B | $2.87B | $2.56B | $2.29B | $2.24B |
| EBITDA Margin | 30.2% | 26.9% | 24.3% | 23.6% | 26.2% | 27.8% | 26.2% | 24.0% | 23.7% | 25.7% | 25.9% | 24.9% | 24.8% | 24.1% | 24.5% | 24.5% | 24.6% | 22.0% | 22.9% | 23.4% | 21.9% | 21.9% | 23.9% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 |
| Assets | |||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||
| Cash and Cash Equivalents | $4.42B | $2.14B | $1.81B | $2.13B | $2.51B | $2B | $1.15B | $1.93B | $1.85B | $1.7B | $1.08B | $1.02B | $1.05B | $1.29B | $1.97B | $1.7B | $1.55B | $1.41B | $811.58M | $1B | $667.89M | $364.87M | $352.37M |
| Short-Term Investments | $0 | $0 | $1.34M | $0 | $0 | $0 | $0 | $3.57M | $335K | $2.46M | $0 | $0 | $9.71M | $0 | $50.47M | $57.83M | $66.21M | $0 | $0 | $0 | $0 | $511.58M | $136.88M |
| Cash and Short-Term Investments | $4.42B | $2.14B | $1.81B | $2.13B | $2.51B | $2B | $1.15B | $1.93B | $1.85B | $1.7B | $1.08B | $1.02B | $1.06B | $1.29B | $2.02B | $1.76B | $1.61B | $1.41B | $811.58M | $1B | $667.89M | $876.45M | $489.25M |
| Accounts Receivable | $3.24B | $3.35B | $3.34B | $3.39B | $3.13B | $2.56B | $2.88B | $2.79B | $3.24B | $3.48B | $3.33B | $3.22B | $3.11B | $3.24B | $3.16B | $3.03B | $2.75B | $3.3B | $3.1B | $2.82B | $2.76B | $38.07M | $0 |
| Inventory | $2.38B | $2.44B | $2.26B | $2.41B | $1.94B | $1.57B | $1.88B | $1.63B | $1.49B | $1.48B | $1.09B | $978.28M | $884.6M | $866.18M | $875.45M | $828.11M | $792.38M | $913.63M | $888.62M | $775.19M | $729.97M | $846.98M | $731.87M |
| Other Current Assets | $1.12B | $1.39B | $830.01M | $1.05B | $656.39M | $675.15M | $451.29M | $1.07B | $1.1B | $1.31B | $741.13M | $581.36M | $544.18M | $285.82M | $314.29M | $316.3M | $299.67M | $257.69M | $280.46M | $244.18M | $301.45M | $2.61B | $2.17B |
| Total Current Assets | $11.15B | $9.32B | $8.62B | $9.15B | $8.38B | $7.11B | $6.66B | $7.55B | $7.81B | $8.11B | $6.39B | $5.9B | $5.59B | $5.9B | $6.55B | $6.1B | $5.68B | $6.36B | $5.4B | $5.03B | $4.71B | $4.68B | $3.91B |
| Long-Term Assets | |||||||||||||||||||||||
| Property, Plant & Equipment Net | $27.8B | $28.51B | $26.41B | $26.4B | $25.16B | $22.33B | $23.58B | $21.49B | $20.68B | $22.46B | $17.54B | $16.25B | $14.77B | $14.27B | $13.51B | $12.32B | $11.08B | $10.63B | $9.37B | $8.92B | $9.12B | $7.72B | $6.62B |
| Goodwill | $15.43B | $16.72B | $15.85B | $16.29B | $15.62B | $14.61B | $15.57B | $14.9B | $14.34B | $15.51B | $6.4B | $5.87B | $5.68B | $5.73B | $5.09B | $4.9B | $4.47B | $4.42B | $4.07B | $2.92B | $2.95B | $2.58B | $923.79M |
| Intangible Assets | $1.74B | $1.89B | $1.82B | $18.31B | $17.24B | $16.17B | $17.3B | $1.78B | $1.8B | $2.11B | $948.02M | $853.56M | $796.29M | $811.14M | $712.55M | $748.17M | $754.75M | $799.41M | $788.25M | $409.98M | $430.97M | $526.21M | $250.1M |
| Long-Term Investments | $1.05B | $583.26M | $573.99M | $1.05B | $1.03B | $937.19M | $900.57M | $315.97M | $379.94M | $375.7M | $305.92M | $318.87M | $325.24M | $318.76M | $629.93M | $592.3M | $428.85M | $0 | $0 | $0 | $0 | -$202.87M | $274.55M |
| Deferred Tax Assets | $338.6M | $374.03M | $251.44M | $259.36M | $267.18M | $299.67M | $286.49M | $315.75M | $288.5M | $203.09M | $262.6M | $274.1M | $336.85M | $408.08M | $324.12M | $341.98M | $390.89M | $394.12M | $399.26M | $449.06M | $459.89M | $0 | $0 |
| Other Long-Term Assets | $424.31M | $508.12M | $444.14M | -$16.17B | -$15.46B | -$14.49B | -$15.54B | -$315.75M | -$288.5M | -$203.09M | -$262.6M | -$274.1M | -$336.85M | $475.41M | $121.48M | $152.07M | $229.89M | $401.05M | $402.94M | $460M | $513.81M | $801.42M | $311.17M |
| Total Long-Term Assets | $46.79B | $48.59B | $45.35B | $46.14B | $43.85B | $39.86B | $42.09B | $38.49B | $37.2B | $40.45B | $25.19B | $23.29B | $21.57B | $22.02B | $20.38B | $19.06B | $17.35B | $16.64B | $15.03B | $13.16B | $13.48B | $11.43B | $8.38B |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $829.22M | $802.09M | $696.36M | $739.46M | $643.33M | $859.71M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $57.94B | $57.91B | $53.96B | $55.29B | $52.23B | $46.87B | $48.75B | $46.87B | $45.81B | $49.26B | $32.31B | $29.84B | $28.02B | $27.92B | $26.93B | $25.16B | $23.03B | $23.01B | $20.42B | $18.19B | $18.19B | $16.11B | $12.29B |
| Liabilities | |||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||
| Accounts Payable | $3.35B | $3.71B | $3.7B | $4.22B | $1.5B | $706.97M | $1.03B | $1.35B | $1.1B | $2.5B | $2.25B | $2.15B | $1.86B | $1.17B | $1.31B | $2.04B | $1.8B | $2.11B | $1.88B | $1.49B | $1.43B | $1.2B | $1.05B |
| Short-Term Debt | $2.62B | $2.98B | $2.51B | $2.24B | $2.44B | $2.45B | $2.08B | $2.84B | $2.79B | $2.23B | $2.12B | $1.52B | $1.32B | $1.65B | $1.53B | $1.03B | $922.68M | $682.63M | $414.78M | $746.49M | $466.36M | $306.48M | $204.43M |
| Current Income Tax Payable | $0 | $304.92M | $263.94M | $290.4M | $310.16M | $240.27M | $223.41M | $191.14M | $216.82M | $161.11M | $175.07M | $247.19M | $175.07M | $197.17M | $181.21M | $197.29M | $161.22M | $171.16M | $209.23M | $158.77M | $214.37M | $0 | $0 |
| Current Unearned Revenue | $1.02B | $0 | $0 | $582.14M | $518.06M | $98.14M | $98.59M | $94.79M | -$2.8B | -$2.23B | -$2.14B | -$1.49B | -$1.33B | $1.63B | $487.24M | $486.24M | $454.86M | $616.31M | $463.35M | $326.91M | $475.96M | $0 | $0 |
| Other Current Liabilities | $1.85B | $3.33B | $1.61B | $2.01B | $2.65B | $2.81B | $2.45B | $2.51B | $2.52B | $963.87M | $822.19M | $1.81B | $733.43M | $2.01B | $1.98B | $1.73B | $1.91B | $2.14B | $1.67B | $1.11B | $1.22B | $1.33B | $1.4B |
| Total Current Liabilities | $9.77B | $10.59B | $9.88B | $9.92B | $9.39B | $8.12B | $7.6B | $8.29B | $7.98B | $7.4B | $6.67B | $5.98B | $5.51B | $5.74B | $5.63B | $5B | $4.79B | $5.1B | $4.36B | $3.64B | $3.5B | $2.92B | $2.65B |
| Long-Term Liabilities | |||||||||||||||||||||||
| Long-Term Debt | $11.15B | $9.38B | $9.52B | $11.35B | $11.65B | $11.35B | $12.91B | $12.94B | $13.97B | $16.53B | $6.94B | $6.53B | $6.43B | $6.31B | $6.3B | $6.34B | $6.17B | $6.93B | $5.57B | $4.1B | $4.44B | $4.8B | $2.22B |
| Long-Term Unearned Revenue | $63.86M | $49.13M | $31.71M | $33.16M | $30.03M | $31.49M | $38.3M | $43.1M | $47M | $62.41M | $66.88M | $74.02M | $80.83M | $93.34M | -$3.91B | -$4.53B | $2.21B | $1.86B | $1.94B | $1.55B | $1.72B | -$381.28M | -$513.59M |
| Long-Term Deferred Tax Liabilities | $2.65B | $2.82B | $2.6B | $2.75B | $2.37B | $2.09B | $2.29B | $2.18B | $2.02B | $2.66B | $1.48B | $1.33B | $1.34B | $1.27B | $1.35B | $1.26B | $1.12B | $1.13B | $1.16B | $1.26B | $1.28B | $2B | $1.23B |
| Other Long-Term Liabilities | $2.99B | $3.01B | $2.81B | $2.5B | $2.98B | $2.93B | $3.05B | $3.07B | $3.12B | $3.48B | $2.89B | $2.71B | $2.49B | $2.83B | $2.37B | $2.39B | $88.65M | $166.14M | $165.35M | $313.74M | $310.61M | $756.88M | $0 |
| Total Long-Term Liabilities | $18.09B | $16.48B | $16.13B | $17.82B | $18.18B | $17.48B | $19.51B | $13.07B | $13.97B | $16.54B | $6.96B | $6.49B | $6.49B | $10.52B | $10.14B | $9.99B | $9.59B | $10.09B | $8.83B | $7.22B | $7.75B | $6.8B | $3.45B |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $5.18B | $5.19B | $6.2B | $4.43B | $4.16B | $3.87B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $27.86B | $27.07B | $26B | $27.73B | $27.57B | $25.56B | $27.11B | $26.54B | $27.14B | $30.14B | $18.05B | $16.63B | $15.86B | $16.26B | $15.77B | $14.99B | $14.37B | $15.18B | $13.19B | $10.86B | $11.25B | $9.72B | $6.1B |
| Stockholders' Equity | |||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $3.56B | $3.55B | $3.22B | $3.21B | $2.92B | $2.91B | $2.91B | $2.64B | $2.63B | $2.39B | $2.11B | $2.12B | $1.92B | $1.92B | $1.74B | $1.74B | $1.62B | $1.6B | $1.47B | $1.49B | $1.35B | $1.34B | $1.23B |
| Retained Earnings | $23.45B | $24.38B | $22.88B | $21.05B | $19.12B | $17.47B | $16.23B | $15.26B | $14.07B | $12.86B | $11.97B | $11.18B | $10.69B | $9.54B | $9.12B | $8.12B | $6.77B | $6.16B | $5.83B | $5.59B | $4.15B | $4.75B | $4.65B |
| Comprehensive Income & Other | $0 | $0 | -$1.51B | -$258.13M | -$1.02B | -$2.43B | -$793.5M | -$1.12B | -$1.48B | $107.07M | -$113.77M | -$329.26M | -$745.15M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $2.25B | $2.05B | $1.05B | $2.23B | $1.92B | $327.47M | $1.94B | $1.96B | $1.52B | $3.45B | -$231.45M | -$412.99M | -$752.97M | -$60.51M | $34.61M | $77.26M | $75.81M | -$103.16M | -$233.46M | -$59.4M | $813.26M | -$95.24M | -$201.19M |
| Total Equity | $29.26B | $29.99B | $27.15B | $26.5B | $23.96B | $20.7B | $21.07B | $19.85B | $18.22B | $18.69B | $13.85B | $12.88B | $11.86B | $11.4B | $10.9B | $9.94B | $8.47B | $7.66B | $7.07B | $7.02B | $6.31B | $6B | $5.67B |
| Minority Interest | $818.38M | $849.99M | $805.67M | $932.95M | $599M | $516.16M | $506.89M | $473.73M | $447.16M | $427.84M | $407.63M | $324.23M | $293.64M | $259.7M | $264.72M | $233.35M | $187.8M | $166.14M | $165.35M | $313.74M | $310.61M | $381.28M | $513.59M |
| Total Liabilities and Equity | $57.12B | $57.06B | $53.16B | $54.24B | $51.53B | $46.26B | $48.18B | $46.4B | $45.36B | $48.83B | $31.91B | $29.51B | $27.72B | $27.66B | $26.67B | $24.93B | $22.84B | $22.84B | $20.26B | $17.88B | $17.56B | $15.72B | $11.77B |
| Supplementary Data | |||||||||||||||||||||||
| Total Debt | $15.18B | $13.9B | $13.44B | $15.02B | $15.5B | $15.17B | $16.45B | $15.92B | $16.78B | $18.86B | $9.16B | $8.04B | $7.77B | $7.98B | $7.86B | $7.37B | $7.1B | $7.61B | $5.99B | $4.85B | $4.91B | $5.11B | $2.42B |
| Net Debt | $10.76B | $11.76B | $11.79B | $12.89B | $13.07B | $13.17B | $15.3B | $14B | $14.93B | $17.16B | $8.08B | $7.02B | $6.72B | $6.69B | $5.89B | $5.67B | $5.55B | $6.2B | $5.18B | $3.85B | $4.24B | $4.74B | $2.07B |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 |
| Operating Activities | ||||||||||||||||||||||
| Net Income | $3.77B | $3.69B | $3.44B | $3.08B | $2.87B | $2.72B | $2.5B | $2.36B | $2.46B | $2.06B | $1.96B | $1.86B | $1.83B | $1.8B | $1.71B | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Depreciation & Amortization | $2.75B | $2.8B | $2.77B | $2.75B | $2.43B | $2.39B | $2.39B | $1.97B | $1.99B | $1.79B | $1.53B | $1.38B | $1.38B | $1.38B | $1.29B | $1.25B | $1.14B | $1.11B | $1.04B | $1.01B | $1B | $954.16M |
| Deferred Income Tax | $117.22M | $0 | $0 | $103.39M | $118.57M | -$76.37M | $75.81M | $61.74M | -$391.22M | $117.46M | $119.8M | -$203.43M | -$291.18M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $41.2M | $45.22M | $42.99M | $44.88M | $44.33M | $38.41M | $29.81M | $25.9M | $20.21M | $20.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $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 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$242.37M | $166.25M | $286.94M | -$496.95M | $311.06M | $305.14M | -$164.35M | $645.56M | $210.24M | $195.39M | -$134.54M | $82.06M | -$20.88M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | -$242.37M | $166.25M | $286.94M | -$496.95M | $311.06M | $305.14M | -$164.35M | $645.56M | $210.24M | $193.49M | -$354.04M | $183.22M | $270.3M | -$39.08M | -$215.26M | -$172.95M | $184.78M | $142.8M | $104.5M | -$121.48M | $5.81M | -$272.09M |
| Other Non-Cash Items | $418.36M | $404.28M | $497.96M | $1.01B | $447.38M | $434.65M | $168.37M | $182.55M | $445.71M | -$58.28M | -$121.7M | -$83.18M | -$82.51M | -$109.08M | -$79.49M | $1.62B | $1.41B | $1.31B | $1.2B | $1.08B | $912.85M | $938.86M |
| Net Cash from Operating | $6.82B | $7.06B | $6.99B | $6.49B | $6.22B | $5.81B | $5.01B | $5.27B | $4.75B | $4.13B | $3.16B | $3.16B | $3.13B | $3.02B | $2.71B | $2.7B | $2.74B | $2.56B | $2.35B | $1.97B | $1.92B | $1.62B |
| Investing Activities | ||||||||||||||||||||||
| Capital Expenditures | -$4.12B | -$3.94B | -$3.79B | -$3.65B | -$3.26B | -$2.94B | -$2.94B | -$2.51B | -$2.44B | -$2.52B | -$2.26B | -$2.12B | -$2.41B | -$2.24B | -$1.96B | -$1.62B | -$1.58B | -$2.13B | -$1.52B | -$1.26B | -$1.09B | -$1.01B |
| Acquisitions | $137.06M | -$174.17M | $264.28M | $98.25M | $57.95M | $72.91M | $617.09M | $107.85M | $523.08M | $908.72M | $132.31M | -$199.85M | -$437.56M | -$981.85M | -$111.09M | -$267.85M | -$121.92M | -$270.53M | -$1.46B | -$80.72M | -$85.08M | -$3.19B |
| Purchases of Investments | -$272.4M | $0 | $0 | $0 | $0 | $0 | $0 | -$113.55M | -$527.88M | -$910.17M | -$133.87M | $182.21M | -$437.56M | -$981.85M | $0 | $0 | $0 | $0 | $0 | $0 | -$85.08M | $0 |
| Sales of Investments | $190.68M | $136.47M | $379.28M | $68.22M | $146.15M | $802.54M | $447K | $5.69M | $4.8M | $1.45M | $1.56M | $17.64M | $4.69M | $1.34M | $1.45M | $893K | $2.12M | $8.37M | $6.81M | $2.34M | $211.58M | $806M |
| Other Investing Activities | $0 | $109.08M | -$292.52M | -$131.75M | -$689.44M | -$121.14M | -$599.45M | -$23.45M | -$151.84M | -$13.57B | -$416.79M | $255.23M | $786.91M | $1.04B | $201.97M | $48.01M | $87.65M | $56.38M | $216.27M | $114.66M | $187.01M | $34.28M |
| Net Cash from Investing | -$4.07B | -$4B | -$3.44B | -$3.62B | -$3.74B | -$2.18B | -$2.93B | -$2.53B | -$2.06B | -$15.18B | -$2.55B | -$2.05B | -$2.49B | -$3.17B | -$1.87B | -$1.84B | -$1.61B | -$2.34B | -$2.76B | -$1.22B | -$860.37M | -$3.36B |
| Financing Activities | ||||||||||||||||||||||
| Debt Repaid | -$2.3B | $297.88M | $1.36B | $967.67M | $19.2M | $811.92M | $1.27B | $1.28B | $1.21B | -$9.1B | -$727.29M | -$84.97M | -$40.64M | -$417.01M | -$264.83M | -$110.87M | $465.13M | -$1.16B | -$1.24B | -$71.68M | $708.98M | -$2.64B |
| Common Stock Issuance | $149.6M | $38.41M | $143.81M | $42.09M | $195.83M | $48.79M | $43.77M | $154.19M | $78.16M | $3.76B | $95.8M | $66.43M | $140.12M | $41.65M | $57.5M | $126.28M | $195.5M | $49.68M | $102.05M | $120.69M | $87.53M | $14.85M |
| Common Stock Repurchases | -$4.29M | -$257.69M | -$91.44M | -$213.81M | -$44.77M | -$55.71M | -$165.35M | -$71.01M | -$176.85M | $0 | -$199.07M | -$129.96M | -$127.95M | -$116.34M | -$104.73M | $0 | -$1.23M | -$187.8M | -$596.1M | -$146.37M | -$66.77M | -$49.57M |
| Dividends Paid | -$2.1B | -$1.92B | -$1.77B | -$1.57B | -$1.49B | -$1.46B | -$1.3B | -$1.29B | -$1.15B | -$1.06B | -$1.03B | -$936.19M | -$915.75M | -$806.78M | -$758.33M | -$679.95M | -$672.02M | -$658.51M | -$554.79M | -$482.33M | -$436.66M | -$375.26M |
| Other Financing Activities | -$499.6M | -$699.26M | -$814.82M | -$668.78M | -$668.78M | -$705.07M | -$402.61M | -$272.2M | -$80.39M | -$96.02M | $26.68M | -$156.87M | -$73.13M | -$76.48M | -$50.8M | -$145.48M | -$32.16M | $0 | -$37.18M | -$10.5M | -$94.68M | -$171.27M |
| Net Cash from Financing | -$150.46M | -$3.13B | -$3.89B | -$3.1B | -$2.03B | -$2.71B | -$2.82B | -$2.77B | -$2.54B | $11.7B | -$477.08M | -$1.07B | -$936.07M | -$540.94M | -$591.52M | -$588.28M | -$975.04M | $366.77M | $154.75M | -$488.92M | -$1.22B | $2.06B |
| Forex Effect | -$61.13M | -$36.17M | -$68.78M | -$184.45M | $18.76M | -$1.56M | $782K | $72.8M | -$51.47M | -$34.16M | -$115.56M | -$35.28M | $36.96M | -$14.4M | $7.26M | -$101.38M | $51.02M | -$46M | $66.88M | $31.82M | $2.01M | $42.32M |
| Net Change in Cash | $2.54B | -$112.99M | -$398.93M | -$422.04M | $469.26M | $917.87M | -$781.44M | $36.73M | $95.13M | $619.77M | $22.89M | $2.12M | -$260.7M | -$698.82M | $257.02M | $174.51M | $205.88M | $544.41M | -$186.57M | $292.08M | -$157.43M | $367.22M |
| Supplementary Data | ||||||||||||||||||||||
| Operating Cash Flow | $6.82B | $7.06B | $6.99B | $6.24B | $6B | $5.53B | $5.01B | $5.27B | $4.75B | $4.13B | $3.16B | $3.16B | $3.13B | $3.02B | $2.71B | $2.7B | $2.74B | $2.56B | $2.35B | $1.97B | $1.92B | $1.62B |
| Capital Expenditure | -$4.12B | -$3.94B | -$3.79B | -$3.65B | -$3.26B | -$2.94B | -$2.94B | -$2.51B | -$2.44B | -$2.52B | -$2.26B | -$2.12B | -$2.41B | -$2.24B | -$1.96B | -$1.62B | -$1.58B | -$2.13B | -$1.52B | -$1.26B | -$1.09B | -$1.01B |
| Free Cash Flow | $2.69B | $3.12B | $3.2B | $2.58B | $2.74B | $2.6B | $2.07B | $2.75B | $2.31B | $1.61B | $898.45M | $1.04B | $721.93M | $782.22M | $748.95M | $1.08B | $1.16B | $429.41M | $829.34M | $712.89M | $831.68M | $614.97M |
| Cash at Beginning | $1.88B | $1.57B | $1.97B | $2.51B | $2B | $1.15B | $1.93B | $1.69B | $1.6B | $977.38M | $954.5M | $952.37M | $1.21B | $1.91B | $1.65B | $1.48B | $1.27B | $730.08M | $916.65M | $624.57M | $782M | $429.29M |
| Cash at End | $4.42B | $1.45B | $1.57B | $2.13B | $2.51B | $2B | $1.15B | $1.73B | $1.69B | $1.6B | $977.38M | $954.5M | $952.37M | $1.21B | $1.91B | $1.65B | $1.48B | $1.27B | $730.08M | $916.65M | $624.57M | $796.51M |