Top line decelerating.
+6.0% YoY versus +10.8% prior. 3y CAGR +8.0%.
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+6.0% YoY versus +10.8% prior. 3y CAGR +8.0%.
Net margin 25.6% versus 23.1% prior (+2.6pp). Operating 31.2%.
P/E 21.4x — 15% above the 5y median of 18.6x. Forward 17.1x hints at EPS expansion next year.
FCF $17.7B versus $13.8B prior. FCF margin 32%; 126% of net income; CapEx 8% of OCF.
Net cash $11.4B versus $11.5B prior. Liquidity: current ratio 1.1.
Dividend distribution not reported versus prior comparable. CapEx $1.6B.
Current: 0.00x
Income · Balance · Cash Flow