Will This ETF Beat the Market Over the Next 12 Months?
2024 was another banner year for the US stock market,…
Period Ending | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | |
---|---|---|---|---|---|---|
Revenue | $16.8B | $16.7B | $18.5B | $19.4B | $19.4B | |
Revenue Growth (YoY) | 4.08% | -0.78% | 11.14% | 4.98% | -0.39% | |
Cost of Revenues | $10.6B | $10.7B | $11.6B | $12.4B | $12.7B | |
Gross Profit | $6.1B | $6B | $6.9B | $7B | $6.7B | |
Gross Profit Margin | 36.64% | 35.92% | 37.3% | 35.93% | 34.56% | |
R&D Expenses | -- | -- | -- | -- | -- | |
Selling, General & Admin | $3B | $3.1B | $3.5B | $3.4B | $3.3B | |
Other Inc / (Exp) | -$277M | -$328M | -$20M | $8M | -$216M | |
Operating Expenses | $3.5B | $3.7B | $4.1B | $4B | $3.8B | |
Operating Income | $2.7B | $2.3B | $2.8B | $3B | $2.9B | |
Net Interest Expenses | -- | -- | -- | -- | -- | |
EBT. Incl. Unusual Items | $2.5B | $2.1B | $2.8B | $3B | $2.8B | |
Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
Income Tax Expense | $643M | $704M | $693M | $730M | $668M | |
Net Income to Company | $1.8B | $1.4B | $2.1B | $2.3B | $2.1B | |
Minority Interest in Earnings | -- | -- | -- | -- | -- | |
Net Income to Common Excl Extra Items | $1.8B | $1.4B | $2.1B | $2.3B | $2.1B | |
Basic EPS (Cont. Ops) | $3.30 | $2.58 | $4.06 | $4.42 | $4.21 | |
Diluted EPS (Cont. Ops) | $3.29 | $2.57 | $4.05 | $4.41 | $4.21 | |
Weighted Average Basic Share | $559M | $540M | $527M | $518M | $505M | |
Weighted Average Diluted Share | $560M | $541M | $528M | $519M | $505M | |
EBITDA | $3.1B | $2.7B | $3.4B | $3.6B | $3.4B | |
EBIT | $2.6B | $2.1B | $2.8B | $3B | $2.8B | |
Revenue (Reported) | $16.8B | $16.7B | $18.5B | $19.4B | $19.4B | |
Operating Income (Reported) | $2.7B | $2.3B | $2.8B | $3B | $2.9B | |
Operating Income (Adjusted) | $2.6B | $2.1B | $2.8B | $3B | $2.8B |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Revenue | $4.2B | $4.7B | $4.9B | $4.9B | $5B | |
Revenue Growth (YoY) | -0.12% | 11.81% | 2.38% | 0.82% | 3% | |
Cost of Revenues | $2.6B | $2.9B | $3.1B | $3.2B | $3.3B | |
Gross Profit | $1.6B | $1.8B | $1.8B | $1.7B | $1.7B | |
Gross Profit Margin | 37.62% | 37.88% | 36.59% | 34.47% | 34.36% | |
R&D Expenses | -- | -- | -- | -- | -- | |
Selling, General & Admin | $804M | $924M | $838M | $801M | $833M | |
Other Inc / (Exp) | -$51M | -$2M | $3M | -$66M | -$40M | |
Operating Expenses | $942M | $1.1B | $979M | $930M | $962M | |
Operating Income | $654M | $729M | $798M | $758M | $771M | |
Net Interest Expenses | -- | -- | -- | -- | -- | |
EBT. Incl. Unusual Items | $624M | $731M | $812M | $713M | $748M | |
Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
Income Tax Expense | $276M | $187M | $183M | $191M | $170M | |
Net Income to Company | $348M | $544M | $629M | $525M | $582M | |
Minority Interest in Earnings | -- | -- | -- | -- | -- | |
Net Income to Common Excl Extra Items | $348M | $544M | $629M | $525M | $582M | |
Basic EPS (Cont. Ops) | $0.64 | $1.04 | $1.22 | $1.04 | $1.17 | |
Diluted EPS (Cont. Ops) | $0.64 | $1.03 | $1.22 | $1.04 | $1.17 | |
Weighted Average Basic Share | $542M | $525M | $516M | $504M | $496M | |
Weighted Average Diluted Share | $543M | $526M | $517M | $505M | $496M | |
EBITDA | $768M | $878M | $959M | $870M | $895M | |
EBIT | $630M | $734M | $818M | $724M | $762M | |
Revenue (Reported) | $4.2B | $4.7B | $4.9B | $4.9B | $5B | |
Operating Income (Reported) | $654M | $729M | $798M | $758M | $771M | |
Operating Income (Adjusted) | $630M | $734M | $818M | $724M | $762M |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Revenue | $16.8B | $17.9B | $19.4B | $19.4B | $19.4B | |
Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
Cost of Revenues | $10.8B | $11.2B | $12.3B | $12.7B | $12.7B | |
Gross Profit | $6B | $6.7B | $7B | $6.7B | $6.7B | |
Gross Profit Margin | -- | -- | -- | -- | -- | |
R&D Expenses | -- | -- | -- | -- | -- | |
Selling, General & Admin | $2.9B | $3.5B | $3.5B | $3.3B | $3.2B | |
Other Inc / (Exp) | -$416M | -$67M | -$1M | -$169M | -$122M | |
Operating Expenses | $3.4B | $4.1B | $4B | $3.9B | $3.7B | |
Operating Income | $2.6B | $2.6B | $3B | $2.8B | $3B | |
Net Interest Expenses | -- | -- | -- | -- | -- | |
EBT. Incl. Unusual Items | $2.3B | $2.6B | $3B | $2.8B | $2.9B | |
Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
Income Tax Expense | $726M | $683M | $699M | $666M | $709M | |
Net Income to Company | $1.5B | $1.9B | $2.3B | $2.1B | $2.3B | |
Minority Interest in Earnings | -- | -- | -- | -- | -- | |
Net Income to Common Excl Extra Items | $1.5B | $1.9B | $2.3B | $2.1B | $2.3B | |
Basic EPS (Cont. Ops) | $2.70 | $3.55 | $4.50 | $4.12 | $4.53 | |
Diluted EPS (Cont. Ops) | $2.70 | $3.54 | $4.50 | $4.11 | $4.52 | |
Weighted Average Basic Share | ||||||
Weighted Average Diluted Share | ||||||
EBITDA | $2.8B | $3.1B | $3.6B | $3.4B | $3.5B | |
EBIT | $2.3B | $2.6B | $3.1B | $2.8B | $3B | |
Revenue (Reported) | $16.8B | $17.9B | $19.4B | $19.4B | $19.4B | |
Operating Income (Reported) | $2.6B | $2.6B | $3B | $2.8B | $3B | |
Operating Income (Adjusted) | $2.3B | $2.6B | $3.1B | $2.8B | $3B |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Revenue | $12.5B | $13.7B | $14.6B | $14.6B | $14.7B | |
Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
Cost of Revenues | $8B | $8.6B | $9.3B | $9.6B | $9.7B | |
Gross Profit | $4.5B | $5.2B | $5.3B | $5B | $5B | |
Gross Profit Margin | -- | -- | -- | -- | -- | |
R&D Expenses | -- | -- | -- | -- | -- | |
Selling, General & Admin | $2.2B | $2.6B | $2.6B | $2.5B | $2.4B | |
Other Inc / (Exp) | -$281M | -$20M | -$1M | -$178M | -$84M | |
Operating Expenses | $2.6B | $3.1B | $3B | $2.9B | $2.8B | |
Operating Income | $1.8B | $2.1B | $2.3B | $2.2B | $2.2B | |
Net Interest Expenses | -- | -- | -- | -- | -- | |
EBT. Incl. Unusual Items | $1.6B | $2.1B | $2.3B | $2B | $2.2B | |
Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
Income Tax Expense | $552M | $531M | $537M | $473M | $514M | |
Net Income to Company | $1.1B | $1.6B | $1.8B | $1.6B | $1.7B | |
Minority Interest in Earnings | -- | -- | -- | -- | -- | |
Net Income to Common Excl Extra Items | $1.1B | $1.6B | $1.8B | $1.6B | $1.7B | |
Basic EPS (Cont. Ops) | $1.98 | $2.96 | $3.40 | $3.10 | $3.41 | |
Diluted EPS (Cont. Ops) | $1.98 | $2.95 | $3.40 | $3.09 | $3.41 | |
Weighted Average Basic Share | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B | |
Weighted Average Diluted Share | $1.6B | $1.6B | $1.6B | $1.5B | $1.5B | |
EBITDA | $2.1B | $2.5B | $2.7B | $2.5B | $2.6B | |
EBIT | $1.7B | $2.1B | $2.3B | $2.1B | $2.2B | |
Revenue (Reported) | $12.5B | $13.7B | $14.6B | $14.6B | $14.7B | |
Operating Income (Reported) | $1.8B | $2.1B | $2.3B | $2.2B | $2.2B | |
Operating Income (Adjusted) | $1.7B | $2.1B | $2.3B | $2.1B | $2.2B |
Period Ending | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | |
---|---|---|---|---|---|---|
Cash and Equivalents | $2.6B | $2.7B | $1.8B | $2.2B | $2.6B | |
Short Term Investments | $779M | $44M | $927M | $310M | $14M | |
Accounts Receivable, Net | $3.3B | $3.1B | $3.6B | $3.8B | $3.8B | |
Inventory | -- | -- | -- | -- | -- | |
Prepaid Expenses | -- | -- | -- | -- | -- | |
Other Current Assets | $931M | $1B | $1.1B | $969M | $1B | |
Total Current Assets | $7.6B | $6.9B | $7.3B | $7.3B | $7.5B | |
Property Plant And Equipment | $2.2B | $2.3B | $2.1B | $2B | $1.7B | |
Long-Term Investments | $17M | $440M | $66M | $70M | $80M | |
Goodwill | $4B | $5B | $5.6B | $5.7B | $6.1B | |
Other Intangibles | $1B | $1B | $1.2B | $1.2B | $1.2B | |
Other Long-Term Assets | $736M | $846M | $1.1B | $1B | $1B | |
Total Assets | $16.2B | $16.9B | $17.9B | $17.9B | $18.5B | |
Accounts Payable | $239M | $389M | $361M | $360M | $337M | |
Accrued Expenses | $412M | $409M | $462M | $387M | $387M | |
Current Portion Of Long-Term Debt | $38M | $38M | $38M | $8M | $33M | |
Current Portion Of Capital Lease Obligations | $202M | $211M | $195M | $174M | $153M | |
Other Current Liabilities | $388M | $469M | $395M | $357M | $500M | |
Total Current Liabilities | $3B | $3.5B | $3.5B | $3.3B | $3.3B | |
Long-Term Debt | $700M | $663M | $626M | $638M | $606M | |
Capital Leases | -- | -- | -- | -- | -- | |
Total Liabilities | $5.2B | $6.1B | $5.9B | $5.5B | $5.3B | |
Common Stock | $5M | $5M | $5M | $5M | $5M | |
Other Common Equity Adj | -$38M | $110M | $37M | -$299M | -$94M | |
Common Equity | $11B | $10.8B | $12B | $12.3B | $13.2B | |
Total Preferred Equity | -- | -- | -- | -- | -- | |
Minority Interest, Total | -- | -- | -- | -- | -- | |
Total Equity | $11B | $10.8B | $12B | $12.3B | $13.2B | |
Total Liabilities and Equity | $16.2B | $16.9B | $17.9B | $17.9B | $18.5B | |
Cash and Short Terms | $3.4B | $2.7B | $2.7B | $2.5B | $2.6B | |
Total Debt | $738M | $701M | $664M | $646M | $639M |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Cash and Equivalents | $4.4B | $1.7B | $2B | $2.2B | $2B | |
Short Term Investments | $139M | $749M | $689M | $164M | $12M | |
Accounts Receivable, Net | $3.1B | $3.5B | $3.7B | $3.8B | $4.2B | |
Inventory | -- | -- | -- | -- | -- | |
Prepaid Expenses | -- | -- | -- | -- | -- | |
Other Current Assets | $926M | $1.1B | $900M | $934M | $1.3B | |
Total Current Assets | $8.6B | $7B | $7.3B | $7.1B | $7.5B | |
Property Plant And Equipment | $2.3B | $2.1B | $2B | $1.8B | $1.6B | |
Long-Term Investments | $441M | $466M | $68M | $76M | $90M | |
Goodwill | $4.9B | $5.5B | $5.4B | $6B | $7.1B | |
Other Intangibles | $1.1B | $1.2B | $1B | $1.2B | $1.7B | |
Other Long-Term Assets | $829M | $705M | $1B | $982M | $1B | |
Total Assets | $18.8B | $17.2B | $17.3B | $18.1B | $20.2B | |
Accounts Payable | $420M | $351M | $367M | $325M | $304M | |
Accrued Expenses | $480M | $456M | $441M | $381M | $417M | |
Current Portion Of Long-Term Debt | $38M | $38M | -- | $33M | $33M | |
Current Portion Of Capital Lease Obligations | $213M | $200M | $173M | $164M | $192M | |
Other Current Liabilities | $361M | $349M | $362M | $464M | $507M | |
Total Current Liabilities | $3.3B | $3.3B | $3.2B | $3.2B | $3.4B | |
Long-Term Debt | $2.4B | $636M | $636M | $614M | $1.2B | |
Capital Leases | -- | -- | -- | -- | -- | |
Total Liabilities | $7.6B | $5.7B | $5.4B | $5.2B | $5.7B | |
Common Stock | $5M | $5M | $5M | $5M | $5M | |
Other Common Equity Adj | -$40M | $33M | -$511M | -$285M | $42M | |
Common Equity | -- | -- | -- | -- | -- | |
Total Preferred Equity | -- | -- | -- | -- | -- | |
Minority Interest, Total | -- | -- | -- | -- | -- | |
Total Equity | $11.1B | $11.5B | $12B | $12.9B | $14.5B | |
Total Liabilities and Equity | $18.8B | $17.2B | $17.3B | $18.1B | $20.2B | |
Cash and Short Terms | $4.6B | $2.4B | $2.7B | $2.4B | $2B | |
Total Debt | $2.5B | $674M | $636M | $647M | $1.2B |
Period Ending | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | |
---|---|---|---|---|---|---|
Net Income to Stockholders | $1.8B | $1.4B | $2.1B | $2.3B | $2.1B | |
Depreciation & Amoritzation | $526M | $559M | $574M | $569M | $555M | |
Stock-Based Compensation | $217M | $232M | $246M | $261M | $176M | |
Change in Accounts Receivable | $37M | $264M | -$407M | -$238M | -$43M | |
Change in Inventories | -- | -- | -- | -- | -- | |
Cash From Operations | $2.5B | $3.3B | $2.5B | $2.6B | $2.3B | |
Capital Expenditures | $392M | $398M | $279M | $332M | $317M | |
Cash Acquisitions | -$599M | -$1.1B | -$1.6B | $128M | -$261M | |
Cash From Investing | $1.6B | -$1.2B | -$2.2B | -$106M | -$331M | |
Dividends Paid (Ex Special Dividend) | -$453M | -$480M | -$509M | -$564M | -$591M | |
Special Dividend Paid | ||||||
Long-Term Debt Issued | -- | $1.7B | -- | $650M | -- | |
Long-Term Debt Repaid | -$28M | -$1.8B | -$53M | -$686M | -$25M | |
Repurchase of Common Stock | -$2.2B | -$1.6B | -$771M | -$1.4B | -$1.1B | |
Other Financing Activities | -- | -- | -- | -$3M | -- | |
Cash From Financing | -$2.6B | -$2B | -$1.2B | -$1.9B | -$1.6B | |
Beginning Cash (CF) | $1.2B | $2.6B | $2.7B | $1.8B | $2.3B | |
Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
Additions / Reductions | $1.5B | $52M | -$872M | $523M | $390M | |
Ending Cash (CF) | $2.6B | $2.7B | $1.8B | $2.3B | $2.7B | |
Levered Free Cash Flow | $2.1B | $2.9B | $2.2B | $2.2B | $2B |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Net Income to Stockholders | $348M | $544M | $629M | $525M | $582M | |
Depreciation & Amoritzation | $138M | $144M | $141M | $146M | $133M | |
Stock-Based Compensation | $58M | $65M | $58M | $47M | $44M | |
Change in Accounts Receivable | $134M | -$92M | $78M | -$64M | -$45M | |
Change in Inventories | -- | -- | -- | -- | -- | |
Cash From Operations | $925M | $948M | $1B | $828M | $847M | |
Capital Expenditures | $104M | $51M | $79M | $73M | $56M | |
Cash Acquisitions | -$581M | -$169M | $9M | -- | -$1.2B | |
Cash From Investing | -$658M | -$407M | -$257M | -$199M | -$1.3B | |
Dividends Paid (Ex Special Dividend) | -$120M | -$127M | -$141M | -$147M | -$149M | |
Special Dividend Paid | -- | -- | -- | -- | -- | |
Long-Term Debt Issued | -- | -- | -- | -- | $600M | |
Long-Term Debt Repaid | -$12M | -$12M | -$21M | -$4M | -$11M | |
Repurchase of Common Stock | -$248M | -$129M | -$315M | -$315M | -$242M | |
Other Financing Activities | -- | -- | -- | -- | -- | |
Cash From Financing | -$347M | -$239M | -$458M | -$450M | $212M | |
Beginning Cash (CF) | $4.4B | $1.4B | $1.8B | $2.1B | $2.2B | |
Foreign Exchange Rate Adjustment | $94M | -$6M | -$43M | -$30M | $11M | |
Additions / Reductions | -$80M | $302M | $317M | $179M | -$191M | |
Ending Cash (CF) | $4.4B | $1.7B | $2B | $2.2B | $2B | |
Levered Free Cash Flow | $821M | $897M | $953M | $755M | $791M |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Net Income to Stockholders | $1.5B | $1.9B | $2.3B | $2.1B | $2.3B | |
Depreciation & Amoritzation | $544M | $578M | $572M | $560M | $535M | |
Stock-Based Compensation | $223M | $248M | $255M | $191M | $177M | |
Change in Accounts Receivable | $425M | -$319M | -$209M | -$79M | -$195M | |
Change in Inventories | -- | -- | -- | -- | -- | |
Cash From Operations | $3.3B | $2.6B | $2.7B | $2.3B | $1.9B | |
Capital Expenditures | $402M | $303M | $307M | $329M | $292M | |
Cash Acquisitions | -$1.3B | -$1.2B | -$377M | -$309M | -$1.5B | |
Cash From Investing | -$1.6B | -$1.7B | -$526M | -$577M | -$1.4B | |
Dividends Paid (Ex Special Dividend) | -$472M | -$500M | -$552M | -$584M | -$596M | |
Special Dividend Paid | ||||||
Long-Term Debt Issued | $1.7B | -- | -- | -- | -- | |
Long-Term Debt Repaid | -$49M | -$1.8B | -$60M | -- | -- | |
Repurchase of Common Stock | -$996M | -$1.5B | -$1.2B | -$1.1B | -$764M | |
Other Financing Activities | -- | -- | -- | -- | -- | |
Cash From Financing | $364M | -$3.6B | -$1.7B | -$1.6B | -$768M | |
Beginning Cash (CF) | -- | -- | -- | -- | -- | |
Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
Additions / Reductions | $2.1B | -$2.8B | $461M | $133M | -$226M | |
Ending Cash (CF) | -- | -- | -- | -- | -- | |
Levered Free Cash Flow | $2.9B | $2.3B | $2.4B | $2B | $1.6B |
Period Ending | 2020-09-30 | 2021-09-30 | 2022-09-30 | 2023-09-30 | 2024-09-30 | |
---|---|---|---|---|---|---|
Net Income to Stockholders | $1.1B | $1.6B | $1.8B | $1.6B | $1.7B | |
Depreciation & Amoritzation | $411M | $430M | $428M | $419M | $399M | |
Stock-Based Compensation | $178M | $194M | $203M | $133M | $134M | |
Change in Accounts Receivable | $212M | -$371M | -$173M | -$14M | -$166M | |
Change in Inventories | -- | -- | -- | -- | -- | |
Cash From Operations | $2.4B | $1.7B | $1.9B | $1.6B | $1.2B | |
Capital Expenditures | $309M | $214M | $242M | $239M | $214M | |
Cash Acquisitions | -$1.1B | -$1.1B | $28M | -$409M | -$1.6B | |
Cash From Investing | -$1.2B | -$1.7B | -$28M | -$499M | -$1.6B | |
Dividends Paid (Ex Special Dividend) | -$362M | -$382M | -$425M | -$445M | -$450M | |
Special Dividend Paid | -- | -- | -- | -- | -- | |
Long-Term Debt Issued | $1.7B | -- | -- | -- | $600M | |
Long-Term Debt Repaid | -$37M | -$40M | -$47M | -$15M | -$61M | |
Repurchase of Common Stock | -$833M | -$689M | -$1.1B | -$751M | -$451M | |
Other Financing Activities | -- | -- | -- | -- | -- | |
Cash From Financing | $617M | -$1B | -$1.5B | -$1.2B | -$313M | |
Beginning Cash (CF) | $11B | $6B | $5.8B | $6.8B | $7.1B | |
Foreign Exchange Rate Adjustment | -$38M | -$13M | -$80M | -$30M | -$28M | |
Additions / Reductions | $1.8B | -$1B | $330M | -$60M | -$676M | |
Ending Cash (CF) | $12.7B | $5B | $6B | $6.7B | $6.4B | |
Levered Free Cash Flow | $2.1B | $1.5B | $1.6B | $1.4B | $990M |
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