Revenue and profitability:
- Revenue: $6,908,000,000; YoY +4.02%; QoQ -3.24%.
- Gross profit: $1,542,000,000; gross margin ~22.32% (~+14.82% YoY, +3.49% QoQ).
- EBITDA: $1,342,000,000; EBITDA margin ~19.43%.
- Operating income: $930,000,000; operating margin ~13.46%.
- Net income: $766,000,000; net margin ~11.09%. YoY +47.88%; QoQ +32.30%.
- Earnings per share (diluted): $0.77; YoY +50.98%; QoQ +32.76%.
Cash flow and capital allocation:
- Net cash provided by operating activities: $1,010,000,000.
- Capital expenditures: $300,000,000.
- Free cash flow: $710,000,000.
- Net change in cash: $380,000,000; ending cash: $2,664,000,000; beginning cash: $2,284,000,000.
- Dividends paid: $209,000,000; share repurchases: $152,000,000; other financing activity: $6,000,000.
Balance sheet and leverage:
- Total assets: $37,530,000,000; total liabilities: $21,187,000,000; total equity: $16,189,000,000.
- Total debt: $6,036,000,000; net debt: $3,372,000,000.
- Current assets: $16,568,000,000; current liabilities: $12,790,000,000; working capital position is solid but exhibits cyclical working capital patterns.
- Liquidity ratios: current ratio 1.295; quick ratio 0.885; cash ratio 0.208.
- Coverage: interest coverage 16.91x; ROE 4.73%; ROA 2.04%; ROCE 3.76%.
- Leverage indicators: debt to capitalization 27.2%; debt to equity 0.373; gross leverage remains manageable in a cyclical environment.
Efficiency and capital efficiency:
- Asset turnover 0.184; fixed asset turnover 1.341; operating cash flow per share $1.017; free cash flow per share $0.715.
- Working capital efficiency indicators: DSO 90.16 days; DIO 88.12 days; DPO 74.32 days; CCC 178.28 days; cash conversion cycle ~103.96 days.
Valuation and market indicators:
- Price/Earnings: 11.72x; Price/Book: 2.22x; Price/Sales: 5.20x; EV/EBITDA: 29.28x.
- Price/Free Cash Flow: 50.60x; Price/CFO: 35.57x; EV/FCF metrics reflect growth and cash generation assumptions.
- Dividend yield: 0.58%; Dividend payout ratio: 27.3%; Book-to-market and growth expectations imply a balanced equity risk premium for cyclicality.