Morningstar Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	2,508	2,446	2,275	2,039	1,871	1,699
Revenue Growth (YoY)	8.39%	7.49%	11.60%	8.98%	10.08%	22.30%
Cost of Revenue	960.4	952.9	895.7	843.5	779.3	698.4
Gross Profit	1,548	1,493	1,379	1,195	1,091	1,001
Selling, General & Admin	811.1	801	768.2	779.6	756.9	593.2
Depreciation & Amortization Expenses	194.3	189.9	190.4	184.9	166.6	150.7
Other Operating Expenses	-3.1	-24.9	-64	-	-	-
Total Operating Expenses	1,002	966	894.6	964.5	923.5	743.9
Operating Income	568.4	526.6	484.8	230.6	167.8	257
Interest Income	-0.8	-3.3	-17.4	-7.4	-3.6	5.4
Interest Expense	-36.9	-28.6	-37.7	-51.7	-28.4	-8.7
Other Non-Operating Income (Expense)	-21.1	1	44.2	2.6	-8.8	-4.3
Total Non-Operating Income (Expense)	-58.8	-27.6	6.5	-49.1	-37.2	-7.6
Pretax Income	532.3	499	491.3	181.5	130.6	250.5
Provision for Income Taxes	128.7	121.5	104	33	56.5	62.6
Net Income	402.8	374.2	369.9	141.1	70.5	193.3
Net Income to Common	402.8	374.2	369.9	141.1	70.5	193.3
Net Income Growth	4.84%	1.16%	162.16%	100.14%	-63.53%	-13.55%
Shares Outstanding (Basic)	41	42	43	43	43	43
Shares Outstanding (Diluted)	41	42	43	43	43	43
Shares Change (YoY)	-4.46%	-2.09%	0.47%	-	-1.15%	0.46%
EPS (Basic)	9.87	8.93	8.64	3.31	1.65	4.50
EPS (Diluted)	9.82	8.87	8.58	3.29	1.64	4.45
EPS Growth	10.34%	3.38%	160.79%	100.61%	-63.15%	-14.09%
Free Cash Flow	437.4	442.6	448.9	197.3	168.3	348.1
Free Cash Flow Growth	-1.18%	-1.40%	127.52%	17.23%	-51.65%	13.17%
Free Cash Flow Per Share	10.62	10.49	10.42	4.60	3.92	8.02
Dividends Per Share	1.905	1.865	1.670	1.530	1.460	1.310
Dividend Growth	2.15%	11.68%	9.15%	4.79%	11.45%	7.38%
Gross Margin	61.71%	61.03%	60.63%	58.62%	58.34%	58.90%
Operating Margin	22.66%	21.53%	21.31%	11.31%	8.97%	15.12%
Profit Margin	16.06%	15.30%	16.26%	6.92%	3.77%	11.38%
FCF Margin	17.44%	18.10%	19.73%	9.68%	9.00%	20.48%
EBITDA	762.7	716.5	675.2	415.5	334.4	407.7
EBITDA Margin	30.41%	29.30%	29.68%	20.38%	17.88%	23.99%
EBIT	568.4	526.6	484.8	230.6	167.8	257
EBIT Margin	22.66%	21.53%	21.31%	11.31%	8.97%	15.12%
Effective Tax Rate	24.18%	24.35%	21.17%	18.18%	43.26%	24.99%

SEC Filings: 10-K · 10-Q