As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-04-04. Approximate; share and price dates can differ.
View share-count filing ↗Derived operating income
Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Retains asset impairments and all reported operating expenses. Removes separately presented net interest and equity-method affiliate earnings from pretax income. Applies only to the two recorded fiscal periods; source history can contain later restatements. Read the financial statement ↗
DCF value
Requires positive annual FCF, usable shares and discount rate above terminal growth.
How this is calculated ↗Reverse DCF
No solution in −50% to +100% growth, or nonpositive FCF / invalid assumptions.
How this is calculated ↗Relative valuation
18 sector peers · median 29.1×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 29.2× · 129.9% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy
How this is calculated ↗Value composite
Annual basis · read assumptions below
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | — | — | — |
| 10.0% | — | — | — |
| 12.0% | — | — | — |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 32.5B | 2B | 3.2B | 3.4B | 35.1B |
| 2024-12-31 | 30.7B | 2.3B | 4B | 3.2B | 33.9B |
| 2023-12-31 | 34.7B | 4.9B | 7.1B | 2.2B | 35.3B |
| 2022-12-31 | 41.5B | 8.1B | 10.1B | 1.9B | 32.5B |
| 2021-12-31 | 36.5B | 7.1B | 6.2B | 1.6B | 25.8B |
| 2020-12-31 | 20.1B | 836M | 2.7B | 1.5B | 20.1B |
| 2019-12-31 | 22.6B | 1.4B | 2.8B | 1.5B | 18.3B |
| 2018-12-31 | 25.1B | 2.5B | 2.4B | 982.5M | 17.9B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 32.5B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-25 |
| netIncome | 2B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-25 |
| Parent/common earnings proxy | 1.7B | NetIncomeLossAvailableToCommonStockholdersBasic | 2026-02-25 |
| cfo | 3.2B | NetCashProvidedByUsedInOperatingActivities | 2026-02-25 |
| capex | 3.4B | PaymentsToAcquirePropertyPlantAndEquipment | 2026-02-25 |
| operatingIncome | 2.6B | Reviewed manual correction Derived consolidated operating income from the reviewed income statement, rather than a separately tagged subtotal. Retains asset impairments and all reported operating expenses. Removes separately presented net interest and equity-method affiliate earnings from pretax income. Applies only to the two recorded fiscal periods; source history can contain later restatements. | 2026-02-25 |
| assets | 35.1B | Assets | 2026-02-25 |
| equity | 22.1B | StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-25 |
| Parent book equity proxy | 20.9B | StockholdersEquity | 2026-02-25 |
| debt | 7B | LongTermDebtAndCapitalLeaseObligationsCurrent + LongTermDebtAndCapitalLeaseObligations | 2026-02-25 |
| shortDebt | 122M | ShortTermBorrowings | 2026-02-25 |
| cash | 2.3B | CashAndCashEquivalentsAtCarryingValue | 2026-02-25 |
| shares | 231M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-25 |
| dividends | 512M | PaymentsOfDividendsCommonStock | 2026-02-25 |
| buybacks | 700M | PaymentsForRepurchaseOfCommonStock | 2026-02-25 |
| issuance | 5M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of stock options: 5000000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 11 financing lines reconcile exactly to reported financing cash flow -1315000000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: the statement also aggregates other financing cash flows (net 5000000 USD). Their common-equity portion is not separately disclosed here. Issuance is the sum of separately reported common cash-issuance lines, not an independently verified gross total; additional equity flows may be inside those aggregates. | 2026-02-25 |