Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY)
Münchener Rückversicherungs-Gesellschaft AG, commonly known as Munich Re, operates as a global leader in the insurance and reinsurance industries. Its extensive operations are segmented into five primary divisions: Life and Health Reinsurance, Property-Casualty Reinsurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International. For its life and health reinsurance clients, the company delivers comprehensive solutions, including managing financial market exposure, leveraging data analytics, streamlining claims handling and underwriting, conducting medical research, and offering capital management strategies. These services are complemented by digital platforms such as the MIRA suite. Its property and casualty reinsurance arm addresses a wide array of exposures, spanning agricultural and location-specific risks, infrastructure profiling, remote inspections, cyber threats, and various risk transfer mechanisms. It deploys advanced tools like data analytics, retroactive reinsurance, and insurance-linked securities, alongside proprietary services such as NatCatSERVICE for natural catastrophe loss data, REALYTIX ZERO, IMPROVEX, cert2go, product development advisory, and Vahana AI for motor claims processing. Moreover, the firm provides tailored solutions for industrial clients, encompassing IoT coverage, earnings quality insurance, captive arrangements, liability, and specialized risks in sectors such as space, satellite, bioenergy, solar, wind farm, mining, construction, aviation, power utilities, and oil & gas. It also tackles industrial cyber threats, digital risks, PV warranty, parametric insurance, AI-powered solutions (Insure AI), liquidation damage, and natural catastrophe provisions. Beyond its core reinsurance activities, the company markets direct insurance products to consumers under the ERGO brand, encompassing life, property-casualty, health, legal protection, and travel coverage. Established in 1880, its corporate headquarters are located in Munich, Germany.
Sector: Insurance - Reinsurance
Industry: Insurance - Reinsurance
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
OTC:MURGYFinancial Services · Insurance - Reinsurance
-4.95%$12.67
CLOSED · Nov 6Prev close$13.33-4.95%Close$12.67
Mkt Cap$16.48B
Float25.64M
O/S1.3B
VOL337K sh
$ Vol$4.29M
RVOL0.66×
Inst Own-
EarningsNov 10 · Tomorrow
Div Yield4.42%
Dilution
Financials Summary
Revenue$74.32B
Net Income$6.56B
Total Assets$312.41B
Free Cash Flow$1.19B
Debt & Equity
Debt 18%
Equity 82%
Total Debt$8.3B
Total Equity$37.11B
Shares Outstanding
Short Interest
Split History1 split
- 5:1Forward splitOct 23, 20241 share → 5
Balance Sheet Details
Assets$312.41B
Liabilities$275.11B
Accounts Receivable$25.22B
Accounts Payable$0
Inventory$0
PP&E (Net)$2.25B
Goodwill$5.36B
Intangible Assets$1.28B
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 | $74.32B | $47.23B | $44.31B | $44.33B | $71.97B | $65.47B | $64.85B | $58.13B | $62.33B | $62.17B | $62.93B | $62.92B | $64.19B | $66.83B | $61.82B | $66B | $66.52B | $68.53B | $59.31B | $55.69B | $57.04B | $51.01B | $51.31B |
| YoY Growth | 57.3% | 6.6% | -0.1% | -38.4% | 9.9% | 1.0% | 11.5% | -6.7% | 0.2% | -1.2% | 0.0% | -2.0% | -3.9% | 8.1% | -6.3% | -0.8% | -2.9% | 15.5% | 6.5% | -2.4% | 11.8% | -0.6% | - |
| Cost of Revenue | $0 | -$1.54B | -$1.53B | -$1.17B | $11.92B | $11.14B | $11.08B | $10.67B | $10.3B | $10.44B | $10.47B | $10.29B | $10.75B | $10.91B | $10.4B | $9.96B | $9.06B | $3B | $2.73B | $2.66B | $2.97B | $0 | $0 |
| Gross Profit | $74.32B | $48.77B | $45.84B | $45.51B | $60.05B | $54.33B | $53.77B | $47.46B | $52.03B | $51.74B | $52.47B | $52.64B | $53.45B | $55.92B | $51.42B | $56.03B | $57.47B | $65.53B | $56.59B | $53.03B | $54.08B | $51.01B | $51.31B |
| Gross Margin | 100.0% | 103.3% | 103.5% | 102.6% | 83.4% | 83.0% | 82.9% | 81.6% | 83.5% | 83.2% | 83.4% | 83.7% | 83.3% | 83.7% | 83.2% | 84.9% | 86.4% | 95.6% | 95.4% | 95.2% | 94.8% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $10.42B | $10.01B | $9.62B | $8.72B | $3.35B | $3.17B | $3.5B | $3.38B | $3.31B | $3.29B | $3.34B | $3.06B | $3.06B | $3.12B | $2.99B | $7.35B | $9.23B | $12.75B | $7.6B | $7.74B | $7.73B | $0 | $0 |
| Other | $54.65B | $29.04B | $28.28B | $25.62B | $52.08B | $49.51B | $46.04B | $40.21B | $47.99B | $44.13B | $44.55B | $45.84B | $46.01B | $48.25B | $48.25B | $45.19B | $43.96B | $49.49B | $43.72B | $39.52B | $42.14B | $48.11B | $49.83B |
| Total Operating Expenses | $65.07B | $39.05B | $37.9B | $34.33B | $55.43B | $52.68B | $49.54B | $43.59B | $51.3B | $47.42B | $47.88B | $48.9B | $49.07B | $51.36B | $51.24B | $52.55B | $53.19B | $62.24B | $51.31B | $47.26B | $49.87B | $48.11B | $49.83B |
| Operating Income (EBIT) | $9.25B | $9.72B | $7.94B | $11.17B | $4.62B | $1.65B | $4.22B | $3.87B | $725.73M | $4.32B | $4.58B | $3.74B | $4.37B | $4.56B | $178.64M | $3.49B | $4.27B | $3.29B | $5.27B | $5.77B | $4.2B | $2.9B | $1.48B |
| Operating Margin | 12.4% | 20.6% | 17.9% | 25.2% | 6.4% | 2.5% | 6.5% | 6.7% | 1.2% | 6.9% | 7.3% | 5.9% | 6.8% | 6.8% | 0.3% | 5.3% | 6.4% | 4.8% | 8.9% | 10.4% | 7.4% | 5.7% | 2.9% |
| Interest Expense | $395.73M | $365.1M | $329.37M | $319.32M | $375.14M | $377.38M | $403.06M | $313.74M | $347.23M | $345M | $374.03M | $398.59M | $464.46M | $525.87M | $1.44B | $327.13M | $339.42M | $403.06M | $371.79M | $346.12M | $422.04M | $475.63M | $0 |
| Interest Income | $0 | $3.78B | $3.36B | $0 | $2.07B | $2.59B | $2.43B | $2.37B | $3.28B | $3.02B | $2.52B | $2.8B | $2.79B | $7.66B | $7.98B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Income Before Tax (EBT) | $9.25B | $9.72B | $7.94B | $11.17B | $4.62B | $1.65B | $4.22B | $3.87B | $725.73M | $4.32B | $4.58B | $3.74B | $4.37B | $4.56B | $178.64M | $3.49B | $4.27B | $3.29B | $5.27B | $5.77B | $4.2B | $2.9B | $1.48B |
| Income Tax Expense | $2.69B | $2.33B | $1.05B | $1.48B | $616.31M | $300.34M | $539.27M | $643.1M | -$332.72M | $848.54M | $531.45M | -$348.35M | $120.58M | $980.29M | -$616.31M | $772.62M | $1.41B | $1.53B | $894.32M | $1.84B | $1.13B | $794.95M | $2B |
| Net Income | $6.56B | $6.35B | $5.14B | $5.93B | $3.27B | $1.35B | $3.04B | $2.58B | $418.69M | $2.88B | $3.47B | $3.52B | $3.69B | $3.56B | $783.78M | $2.71B | $2.86B | $1.76B | $4.38B | $3.93B | $3.07B | $2.11B | -$484.56M |
| Net Income Margin | 8.8% | 13.4% | 11.6% | 13.4% | 4.6% | 2.1% | 4.7% | 4.4% | 0.7% | 4.6% | 5.5% | 5.6% | 5.7% | 5.3% | 1.3% | 4.1% | 4.3% | 2.6% | 7.4% | 7.1% | 5.4% | 4.1% | -0.9% |
| Supplementary Data | |||||||||||||||||||||||
| EPS | 0.90 | 4.26 | 3.39 | 3.81 | 2.09 | 0.86 | 1.90 | 1.55 | 0.24 | 1.61 | 1.87 | 1.83 | 1.85 | 1.79 | 0.39 | 1.31 | 1.30 | 0.77 | 1.78 | 1.51 | 1.17 | 0.80 | -0.22 |
| Diluted EPS | 0.90 | 4.26 | 3.39 | 3.81 | 2.09 | 0.86 | 1.90 | 1.55 | 0.24 | 1.61 | 1.87 | 1.83 | 1.85 | 1.79 | 0.39 | 1.31 | 1.30 | 0.77 | 1.78 | 1.51 | 1.17 | 0.80 | -0.22 |
| Weighted Average OS | 6.49B | 1.34B | 1.36B | 1.39B | 1.40B | 1.40B | 1.44B | 1.49B | 1.54B | 1.60B | 1.66B | 1.72B | 1.79B | 1.78B | 1.78B | 1.85B | 1.95B | 2.01B | 2.15B | 2.28B | 2.28B | 2.29B | 1.93B |
| EBITDA | $10.05B | $10.5B | $8.62B | $14.7B | $5.33B | $2.35B | $4.96B | $4.57B | $1.55B | $5.12B | $5.4B | $4.5B | $5.23B | $5.48B | $1.62B | $3.81B | $4.7B | $3.74B | $5.68B | $6.13B | $4.66B | $3.87B | $2.25B |
| EBITDA Margin | 13.5% | 22.2% | 19.5% | 33.2% | 7.4% | 3.6% | 7.7% | 7.9% | 2.5% | 8.2% | 8.6% | 7.1% | 8.1% | 8.2% | 2.6% | 5.8% | 7.1% | 5.5% | 9.6% | 11.0% | 8.2% | 7.6% | 4.4% |
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 | $6.14B | $6.83B | $9.57B | $10.4B | $9.8B | $10.11B | $9.62B | $5.57B | $4.05B | $3.74B | $4.42B | $3.25B | $3.15B | $3.19B | $2.78B | $3.24B | $3.44B | $2.63B | $2.8B | $2.43B | $2.61B | $2.26B | $2.1B |
| Short-Term Investments | $0 | $198.03B | $0 | $156.74B | $181.4B | $173.49B | $169.21B | $155.5B | $160.6B | $165.07B | $158.03B | $160.6B | $140.57B | $148.71B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $6.14B | $204.86B | $9.57B | $167.15B | $191.19B | $183.6B | $178.83B | $161.06B | $164.65B | $168.81B | $162.45B | $163.85B | $143.72B | $151.91B | $2.78B | $3.24B | $3.44B | $2.63B | $2.8B | $2.43B | $2.61B | $2.26B | $2.1B |
| Accounts Receivable | $25.22B | $6.6B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $13.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | -$204.87B | $43.25B | -$566.07M | -$524.75M | -$437.67M | -$494.61M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10.21B | $9.64B | $10.39B | $19.33B | $20.46B | $50.09B | $45.12B | $39.82B |
| Total Current Assets | $31.36B | $6.6B | $52.82B | $167.15B | $191.19B | $183.6B | $178.83B | $161.06B | $164.65B | $172.47B | $166.33B | $167.81B | $147.66B | $162.33B | $2.78B | $13.45B | $13.08B | $13.01B | $22.12B | $22.88B | $52.7B | $47.39B | $41.92B |
| Long-Term Assets | |||||||||||||||||||||||
| Property, Plant & Equipment Net | $2.25B | $5B | $570.53M | $10.51B | $10.24B | $9.82B | $9.32B | $9.21B | $8.53B | $7.92B | $7.83B | $7.18B | $7.19B | $7.27B | $4.34B | $4.74B | $4.56B | $4.17B | $4.19B | $5.27B | $6.47B | $0 | $0 |
| Goodwill | $5.36B | $3.84B | $3.55B | $3.62B | $3.45B | $3.11B | $3.28B | $3.24B | $2.89B | $3.15B | $3.12B | $3.42B | $3.68B | $3.77B | $3.92B | $3.86B | $3.88B | $3.99B | $3.5B | $3.64B | $3.64B | $3.51B | $3.98B |
| Intangible Assets | $1.28B | $997.03M | $1.15B | $1.16B | $1.44B | $1.37B | $1.38B | $1.3B | $1.23B | $1.45B | $1.31B | $1.36B | $1.54B | $1.69B | $1.77B | $1.82B | $1.92B | $1.99B | $1.28B | $1.18B | $1.16B | $1.39B | $1.53B |
| Long-Term Investments | $257.45B | $255.01B | $239.5B | $181.61B | $204.07B | $194.36B | $187.26B | $175.69B | $180.58B | $184.97B | $177.87B | $179.27B | $150.01B | $157.38B | $204.65B | $197.62B | $184.14B | $180.57B | $180.89B | $176.85B | $145.78B | $145.21B | $142.93B |
| Deferred Tax Assets | $1.78B | $2.97B | $3.06B | $3.2B | $561.6M | $310.39M | $352.81M | $608.49M | $596.21M | $366.21M | $8.77B | $8.49B | $7.8B | $6.94B | $8.43B | $6.65B | $5.61B | $6.37B | $5.16B | $6B | $5.65B | $4.83B | $5.74B |
| Other Long-Term Assets | $12.94B | $45.47B | $297.34B | $185.34M | $92.7B | $0 | $0 | -$190.05B | -$193.83B | -$197.85B | -$198.89B | -$199.71B | -$170.23B | -$177.06B | -$223.1B | -$214.7B | -$200.11B | -$197.09B | -$195.01B | -$192.93B | -$162.7B | -$154.94B | -$154.18B |
| Total Long-Term Assets | $281.06B | $313.3B | $542.11B | $200.28B | $219.76B | $208.97B | $201.6B | $190.05B | $193.83B | $197.85B | $198.89B | $199.71B | $170.23B | $177.06B | $223.1B | $227.94B | $204.61B | $207.71B | $204.18B | $206.25B | $178.98B | $172.63B | $155.31B |
| Other Assets | $0 | $0 | -$289.24B | -$34.07B | -$62.15B | -$59.91B | -$59.38B | -$49.47B | -$61.8B | -$71.32B | -$56.49B | -$62.74B | -$33.97B | -$50.93B | $50.54B | $22.51B | $31.75B | $19.78B | $12.91B | $11.89B | $11.92B | $19.19B | $36B |
| Total Assets | $312.41B | $319.89B | $305.69B | $333.35B | $348.8B | $332.66B | $321.05B | $301.64B | $296.68B | $299B | $308.73B | $304.78B | $283.91B | $288.46B | $276.42B | $263.89B | $249.44B | $240.51B | $239.21B | $241.02B | $243.59B | $239.21B | $233.24B |
| Liabilities | |||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||
| Accounts Payable | $0 | $0 | $0 | $1.75B | $17.68B | $16.07B | $13.9B | $12.83B | $8.86B | $9.17B | $9.13B | $9.54B | $8.83B | $9.76B | $8.86B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Short-Term Debt | $270.08M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $2.43B | $2.97B | $1.75B | $2.06B | $2.04B | $2.14B | $2.15B | $2.72B | $2.71B | $2.25B | $3.05B | $3.12B | $4.39B | $3.78B | $3.63B | $3.5B | $3.12B | $2.94B | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $17.19B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$270.08M | -$2.43B | $1.55B | -$1.6B | -$2.09B | -$1.61B | -$2.17B | -$15.15B | -$11.58B | -$11.88B | -$11.38B | -$12.59B | -$11.95B | -$14.27B | -$12.64B | -$3.63B | -$3.5B | -$3.12B | -$2.94B | -$2.52B | $0 | $0 | $0 |
| Total Current Liabilities | $0 | $0 | $2.97B | $17.34B | $17.68B | $16.52B | $13.9B | $8.37B | $8.86B | $9.17B | $9.13B | $9.54B | $8.76B | $9.76B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Liabilities | |||||||||||||||||||||||
| Long-Term Debt | $8.03B | $7.8B | $5.26B | $6.81B | $7.11B | $7.08B | $5.24B | $5.2B | $4.1B | $5.51B | $5.76B | $5.74B | $5.73B | $6.98B | $5.52B | $5.74B | $5.66B | $5.9B | $5.83B | $4.24B | $5.03B | $2.5B | $2.47B |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.93B | $3.86B | $3.58B | $0 | $0 | $0 | $5.09B | $3.88B | $4.06B |
| Long-Term Deferred Tax Liabilities | $1.54B | $2.2B | $2.5B | $151.84M | $1.45B | $2.56B | $2.13B | $1.53B | $1.63B | $2.49B | $11.16B | $10.91B | $9.14B | $9.81B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $265.55B | $275.53B | $264.69B | $263.55B | $256.49B | $0 | $0 | -$5.2B | -$4.1B | -$5.51B | -$5.76B | -$5.74B | -$5.73B | -$16.79B | -$9.45B | -$9.6B | -$9.24B | -$5.9B | -$5.83B | -$4.24B | -$10.12B | -$6.38B | -$6.52B |
| Total Long-Term Liabilities | $275.11B | $283.33B | $271.72B | $17.34B | $9.04B | $10.09B | $7.79B | $6.72B | $5.72B | $8B | $16.92B | $16.65B | $14.87B | $16.79B | $250.4B | $238.18B | $224.57B | $216.78B | $210.79B | $211.52B | $216.07B | $216.66B | $211.17B |
| Other Liabilities | $0 | $0 | -$2.24B | $274.99B | $278.9B | $272.56B | $265.23B | $256.96B | $250.62B | $246.35B | $248.12B | $244.75B | $230.99B | $231.29B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $275.11B | $283.33B | $272.45B | $309.68B | $314.25B | $299.17B | $286.91B | $272.06B | $265.2B | $263.52B | $274.16B | $270.95B | $254.63B | $257.84B | $250.4B | $238.18B | $224.57B | $216.78B | $210.79B | $211.52B | $216.07B | $216.66B | $211.17B |
| Stockholders' Equity | |||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $666.55M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $642.83M | $8.29B | $8.29B | $8.29B | $8.3B | $8.3B | $8.29B | $8.28B | $8.28B | $8.28B | $8.28B | $8.28B | $8.29B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B | $8.25B |
| Retained Earnings | $22.9B | $27.71B | $25.13B | $23.1B | $18.71B | $16.5B | $17.34B | $17.32B | $17.21B | $19.51B | $19.22B | $18.04B | $18.07B | $15.79B | $13.72B | $11.99B | $14.72B | $12.16B | $10.92B | $10.51B | $8.96B | $0 | $0 |
| Comprehensive Income & Other | $13.56B | $0 | -$666.55M | -$1.14B | $7.42B | $8.58B | $8.38B | $11.48B | $5.79B | $7.4B | $6.73B | $7.21B | $2.65B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $13.56B | $443.25M | -$320.44M | -$1.14B | $7.42B | $8.58B | $8.38B | $3.84B | $5.79B | $7.4B | $6.73B | $7.21B | $2.64B | $6.31B | $3.78B | $5.2B | $1.64B | $3B | $8.7B | $10.21B | $9.8B | $13.7B | $13.28B |
| Total Equity | $37.11B | $36.44B | $33.1B | $30.25B | $34.42B | $33.38B | $34.01B | $29.44B | $31.28B | $35.19B | $34.24B | $33.53B | $29.01B | $30.35B | $25.75B | $25.44B | $24.62B | $23.41B | $27.86B | $28.97B | $27.01B | $21.94B | $21.53B |
| Minority Interest | $193.07M | $116.12M | $136.21M | $155.19M | $129.51M | $111.65M | $130.63M | $146.26M | $207.67M | $300.34M | $332.72M | $302.57M | $271.31M | $270.19M | $275.78M | $273.54M | $255.68M | $323.79M | $559.37M | $539.27M | $516.94M | $604.03M | $539.27M |
| Total Liabilities and Equity | $312.22B | $319.78B | $305.55B | $339.93B | $348.67B | $332.55B | $320.92B | $301.5B | $296.47B | $298.7B | $308.4B | $304.48B | $283.64B | $288.19B | $276.15B | $263.62B | $249.18B | $240.19B | $238.65B | $240.48B | $243.08B | $238.61B | $232.7B |
| Supplementary Data | |||||||||||||||||||||||
| Total Debt | $8.3B | $7.06B | $5.26B | $7.2B | $7.59B | $7.53B | $5.66B | $5.2B | $4.1B | $5.51B | $5.76B | $5.74B | $5.73B | $6.98B | $5.52B | $5.74B | $5.66B | $5.9B | $5.83B | $4.24B | $5.03B | $2.5B | $2.47B |
| Net Debt | $2.16B | $228.88M | -$4.31B | -$3.2B | -$2.21B | -$2.58B | -$3.96B | -$369.56M | $49.13M | $1.77B | $1.34B | $2.49B | $2.58B | $3.79B | $2.74B | $2.5B | $2.22B | $3.27B | $3.03B | $1.81B | $2.42B | $240.05M | $362.86M |
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 | 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 |
| Operating Activities | |||||||||||||||||||||||
| Net Income | $6.56B | $6.33B | $5.13B | $3.82B | $3.27B | $1.35B | $3.02B | $2.54B | $437.67M | $2.88B | $3.49B | $3.54B | $3.73B | $3.59B | $794.95M | $2.71B | $2.86B | $1.71B | $4.4B | $3.95B | $3.06B | $2.05B | -$484.56M |
| Depreciation & Amortization | $400.82M | $418.69M | $353.93M | $3.21B | $332.72M | $322.67M | $334.95M | $391.89M | $477.86M | $453.3M | $447.72M | $361.75M | $388.54M | $401.94M | $0 | $0 | $82.62M | $45.78M | $30.15M | $17.86M | $32.38M | $488.94M | $767.04M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25.68M | -$223K | $4.47M | $24.56M | $10.05M | $49.91M | $90.77M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||||||||||||||||
| Accounts Receivable | $0 | $0 | $112.77M | -$10.02B | $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 | $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 | $0 |
| Other Working Capital | -$9.38B | -$6.41B | -$2.36B | -$5.26B | $7.19B | $7.72B | $11.43B | $1.28B | $3.01B | $3.17B | $4.52B | $7.69B | $855.24M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Working Capital Change | -$9.38B | -$6.41B | -$2.25B | -$15.28B | $7.19B | $7.72B | $11.43B | $1.28B | $3.01B | $3.34B | $4.52B | $7.68B | $845.19M | $4.79B | -$4.32B | $1.12B | $1.4B | $5.53B | $4.33B | $5.11B | $8.74B | $4.26B | $4.27B |
| Other Non-Cash Items | $3.78B | $3.17B | -$401.94M | -$276.89M | -$4.96B | -$1.33B | -$4.19B | -$470.05M | -$1.41B | -$2.73B | -$3.17B | -$2.82B | -$2.13B | -$2.19B | $10.3B | $6.03B | $5.32B | $2.12B | -$1.35B | -$1.39B | -$5B | -$870.78M | -$1.04B |
| Net Cash from Operating | $1.36B | $3.51B | $2.84B | -$8.53B | $5.83B | $8.06B | $10.6B | $3.35B | $2.05B | $3.5B | $4.83B | $8.4B | $2.44B | $6.18B | $6.78B | $9.87B | $9.66B | $9.41B | $7.4B | $7.69B | $6.83B | $5.93B | $3.51B |
| Investing Activities | |||||||||||||||||||||||
| Capital Expenditures | -$321.73M | -$186.46M | -$165.24M | -$11.91B | $0 | $0 | $6.91B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | -$1.26B | -$327.13M | -$32.38M | $41.31M | -$170.82M | -$2.23M | -$66.99M | -$912.18M | -$43.54M | -$180.87M | -$34.61M | -$126.16M | -$120.58M | -$251.21M | $209.9M | -$12.28M | -$1.02B | -$1.8B | -$106.07M | -$200.97M | -$2.66B | $222.18M | -$375.14M |
| Purchases of Investments | $0 | $0 | $0 | -$1.29B | -$4.1B | -$6.8B | -$7.33B | $0 | $0 | -$1.35B | -$1.13B | -$5.41B | -$382.96M | -$5.11B | -$4.14B | -$8.6B | -$5.04B | -$4.29B | -$5.74B | -$4.96B | $0 | -$3.78B | -$10.8B |
| Sales of Investments | $0 | $0 | $0 | $13.2B | $0 | $0 | $420.92M | $697.81M | $2.5B | $0 | $0 | $0 | $839.61M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $16.09M | -$50.24M | -$169.71M | $12.63B | $5.58M | -$49.13M | -$7.66B | $806.11M | $138.45M | $96.02M | $14.51M | $17.86M | -$10.05M | $78.16M | -$1.12M | $15.63M | -$32.38M | -$152.96M | -$129.51M | $145.15M | -$607.38M | -$1.15B | -$1.34B |
| Net Cash from Investing | -$1.56B | -$563.83M | -$367.33M | $12.67B | -$4.26B | -$6.85B | -$7.73B | -$106.07M | $2.6B | -$1.43B | -$1.15B | -$5.51B | $326.02M | -$5.28B | -$3.94B | -$8.59B | -$6.1B | -$6.24B | -$5.98B | -$5.02B | -$3.27B | -$4.71B | -$12.52B |
| Financing Activities | |||||||||||||||||||||||
| Debt Repaid | - | -$1.5B | $149.61M | $510.24M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $119.47M | $135.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $4.4B |
| Common Stock Repurchases | -$2.01B | -$1.6B | -$1.16B | -$675.48M | $0 | -$400.82M | -$1.07B | -$1.13B | -$1.15B | -$1.09B | -$1.12B | $0 | $0 | $0 | -$385.19M | -$1.45B | -$839.61M | -$1.67B | -$2.57B | -$289.17M | -$48.01M | $0 | $0 |
| Dividends Paid | -$2.8B | -$2.24B | -$1.77B | -$1.73B | -$1.54B | -$1.55B | -$1.49B | -$1.44B | -$1.49B | -$1.48B | -$1.45B | -$1.4B | -$1.4B | -$1.24B | -$1.25B | -$1.2B | -$1.2B | -$1.32B | -$1.12B | -$807.23M | -$528.1M | -$329.37M | -$256.8M |
| Other Financing Activities | -$398.95M | -$146.26M | -$251.21M | -$101.6M | -$338.3M | $1.59B | -$1.3B | -$56.94M | -$2.7B | -$1.34B | -$1.16B | -$1.6B | -$1.57B | $587.28M | -$2.07B | $1.11B | -$731.31M | -$338.3M | $2.68B | -$1.69B | -$2.66B | -$711.21M | $3.94B |
| Net Cash from Financing | -$4.1B | -$2.49B | -$3.33B | -$3.02B | -$1.88B | -$360.63M | -$2.79B | -$1.49B | -$4.19B | -$2.83B | -$2.61B | -$3.01B | -$2.86B | -$520.29M | -$3.32B | -$1.55B | -$2.77B | -$3.33B | -$1.02B | -$2.79B | -$3.24B | -$1.04B | $8.09B |
| Forex Effect | $4.42B | $136.21M | -$52.48M | $39.08M | $163.01M | -$149.61M | -$63.64M | -$44.66M | -$145.15M | -$5.58M | $188.69M | $221.07M | $43.54M | $37.96M | $15.63M | $69.22M | $6.7M | -$11.16M | -$32.38M | -$65.87M | $22.33M | -$11.16M | -$31.26M |
| Net Change in Cash | $122.3M | $595.09M | -$913.3M | $1.16B | -$142.91M | $698.93M | $22.33M | $1.7B | $307.04M | -$768.15M | $1.26B | $102.72M | -$44.66M | $413.11M | -$457.76M | -$203.2M | $800.53M | -$168.59M | $371.79M | -$184.22M | $346.12M | $159.66M | -$950.14M |
| Supplementary Data | |||||||||||||||||||||||
| Operating Cash Flow | $1.36B | $3.51B | $2.84B | -$8.53B | $5.83B | $8.06B | $10.6B | $3.35B | $2.05B | $3.5B | $4.83B | $8.4B | $2.44B | $6.18B | $6.78B | $9.87B | $9.66B | $9.41B | $7.4B | $7.69B | $6.83B | $5.93B | $3.51B |
| Capital Expenditure | -$175.88M | -$352.81M | -$386.31M | -$11.91B | $0 | $0 | $6.91B | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Free Cash Flow | $1.19B | $3.16B | $2.45B | -$20.45B | $5.83B | $8.06B | $17.51B | $3.35B | $2.05B | $3.5B | $4.83B | $8.4B | $2.44B | $6.18B | $6.78B | $9.87B | $9.66B | $9.41B | $7.4B | $7.69B | $6.83B | $5.93B | $3.51B |
| Cash at Beginning | $6.02B | $6.25B | $7.2B | $6.04B | $6.27B | $5.58B | $5.57B | $4.05B | $3.74B | $4.51B | $3.25B | $3.15B | $3.19B | $2.78B | $3.24B | $3.44B | $2.64B | $2.8B | $2.43B | $2.61B | $2.26B | $2.1B | $3.05B |
| Cash at End | $6.14B | $6.84B | $6.28B | $7.2B | $6.13B | $6.27B | $5.59B | $5.75B | $4.05B | $3.74B | $4.51B | $3.25B | $3.15B | $3.19B | $2.78B | $3.24B | $3.44B | $2.63B | $2.8B | $2.43B | $2.61B | $2.26B | $2.1B |