PayPal Holdings, Inc.

	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17	Dec-16	Dec-15	Dec-14	Dec-13	Dec-12
Total revenue	33.17	31.80	29.77	27.52	25.37	21.45	17.77	15.45	13.09	10.84	9.25	8.03	6.73	5.66
Cost of revenue	17.71	17.14	16.07	13.75	11.38	9.68	8.17	6.86	5.43	4.43	3.42	2.82	2.34	1.88
Gross profit	15.47	14.66	13.70	13.77	14.00	11.78	9.60	8.60	7.66	6.41	5.83	5.21	4.39	3.78
Total operating expenses +	9.40	9.33	8.68	9.94	9.73	8.49	6.88	6.40	5.54	4.82	4.37	3.94	3.30	2.90
Selling, general and administrative	1.98	2.15	2.06	2.10	2.11	2.07	1.71	1.54	1.26	1.03	0.56	0.48	0.38	0.35
Research and development	3.10	2.98	2.97	3.25	3.04	2.64	2.09	1.07	0.95	0.83	0.95	0.89	0.73	0.68
Other operating expenses	4.32	4.21	3.64	4.58	4.58	3.78	3.09	3.79	3.33	2.96	2.86	2.57	2.19	1.88
Operating income	6.07	5.33	5.03	3.84	4.26	3.29	2.72	2.19	2.13	1.59	1.46	1.27	1.09	0.88
Non-operating income (net)	0.23	0.00	0.38	-0.47	-0.16	1.78	0.28	0.18	0.07	0.05	0.03	-0.01	-0.01	0.01
Income before tax	6.29	5.33	5.41	3.37	4.10	5.07	3.00	2.38	2.20	1.63	1.49	1.26	1.08	0.89
Income tax expense	1.06	1.18	1.17	0.95	-0.07	0.86	0.54	0.32	0.41	0.23	0.26	0.84	0.13	0.11
Net income	5.23	4.15	4.25	2.42	4.17	4.20	2.46	2.06	1.80	1.40	1.23	0.42	0.96	0.78

Show Quarterly Income Statement

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19	Dec-18	Sep-18	Jun-18	Mar-18	Dec-17	Sep-17	Jun-17	Mar-17	Dec-16	Sep-16	Jun-16	Mar-16	Dec-15	Sep-15	Jun-15	Mar-15	Dec-14	Sep-14	Jun-14	Mar-14
Total revenue	8.35	8.68	8.42	8.29	7.79	8.37	7.85	7.89	7.70	8.03	7.42	7.29	7.04	7.38	6.85	6.81	6.48	6.92	6.18	6.24	6.03	6.12	5.46	5.26	4.62	4.96	4.38	4.31	4.13	4.23	3.68	3.86	3.69	3.74	3.24	3.14	2.98	2.98	2.67	2.65	2.54	2.56	2.26	2.30	2.14	2.19	1.98	1.98	1.87
Cost of revenue	4.54	4.64	4.55	4.44	4.08	4.43	4.19	4.28	4.24	4.35	4.05	3.94	3.73	3.71	3.36	3.49	3.19	3.30	2.83	2.69	2.55	2.70	2.37	2.28	2.33	2.29	2.04	1.95	1.89	1.92	1.66	1.70	1.58	1.31	1.47	1.37	1.29	1.26	1.10	1.07	1.01	1.00	0.85	0.82	0.75	0.79	0.72	0.67	0.64
Gross profit	3.81	4.03	3.87	3.84	3.72	3.94	3.65	3.61	3.46	3.67	3.37	3.35	3.32	3.67	3.49	3.31	3.30	3.62	3.35	3.55	3.49	3.42	3.09	2.98	2.29	2.67	2.34	2.36	2.24	2.31	2.02	2.16	2.11	2.44	1.77	1.76	1.69	1.72	1.57	1.59	1.54	1.56	1.41	1.48	1.38	1.41	1.26	1.31	1.23
Total operating expenses +	2.32	2.52	2.35	2.34	2.19	2.49	2.26	2.28	2.29	1.94	2.20	2.22	2.32	2.43	2.37	2.55	2.59	2.57	2.31	2.42	2.44	2.46	2.12	2.03	1.89	1.87	1.64	1.66	1.72	1.71	1.53	1.59	1.57	1.60	1.35	1.33	1.26	1.26	1.22	1.21	1.13	1.15	1.08	1.08	1.06	1.06	0.99	0.98	0.91
Selling, general and administrative	0.49	0.50	0.51	0.46	0.50	0.59	0.52	0.57	0.46	0.55	0.51	0.49	0.51	0.52	0.46	0.51	0.61	0.57	0.50	0.52	0.52	0.57	0.50	0.51	0.49	0.47	0.40	0.42	0.42	0.43	0.38	0.39	0.35	0.42	0.29	0.28	0.27	0.28	0.26	0.26	0.23	0.09	0.22	0.22	0.22	0.14	0.10	0.12	0.12
Research and development	0.79	0.80	0.80	0.77	0.73	0.77	0.75	0.72	0.74	0.77	0.74	0.74	0.72	0.82	0.80	0.82	0.82	0.80	0.76	0.75	0.74	0.73	0.67	0.63	0.61	0.56	0.53	0.48	0.51	0.29	0.27	0.26	0.26	0.27	0.24	0.23	0.21	0.22	0.22	0.21	0.20	0.36	0.20	0.20	0.19	0.24	0.23	0.22	0.20
Other operating expenses	1.04	1.22	1.04	1.11	0.95	1.13	1.00	1.00	1.09	0.62	0.96	0.98	1.09	1.09	1.11	1.22	1.16	1.20	1.05	1.15	1.18	1.16	0.94	0.88	0.80	0.84	0.71	0.75	0.79	0.99	0.89	0.95	0.97	0.91	0.82	0.82	0.78	0.77	0.74	0.74	0.70	0.70	0.66	0.66	0.66	0.68	0.65	0.64	0.60
Operating income	1.49	1.51	1.52	1.50	1.53	1.44	1.39	1.33	1.17	1.73	1.17	1.13	1.00	1.24	1.12	0.76	0.71	1.05	1.04	1.13	1.04	0.96	0.98	0.95	0.40	0.80	0.70	0.71	0.52	0.60	0.49	0.57	0.53	0.84	0.42	0.43	0.43	0.46	0.35	0.37	0.41	0.41	0.33	0.40	0.32	0.35	0.27	0.33	0.32
Non-operating income (net)	-0.10	0.12	0.01	0.03	0.07	-0.03	-0.08	0.07	0.04	0.07	0.07	0.17	0.08	-0.13	0.46	-0.72	-0.08	-0.34	0.12	0.23	-0.17	0.90	0.17	0.85	-0.14	0.06	-0.21	0.24	0.20	0.09	0.04	0.04	0.01	0.02	0.03	0.02	0.01	0.01	0.01	0.01	0.02	0.01	0.02	0.00	0.00	0.00	0.00	0.00	-0.01
Income before tax	1.39	1.63	1.53	1.53	1.60	1.41	1.31	1.40	1.21	1.79	1.24	1.30	1.07	1.11	1.58	0.05	0.63	0.71	1.17	1.36	0.87	1.86	1.14	1.80	0.26	0.85	0.48	0.94	0.72	0.69	0.53	0.61	0.55	0.86	0.45	0.45	0.44	0.47	0.36	0.38	0.42	0.42	0.35	0.40	0.32	0.35	0.28	0.33	0.31
Income tax expense	0.28	0.19	0.29	0.27	0.32	0.29	0.30	0.27	0.32	0.39	0.22	0.27	0.28	0.19	0.25	0.39	0.12	-0.10	0.08	0.17	-0.23	0.29	0.12	0.27	0.18	0.35	0.02	0.12	0.05	0.10	0.10	0.08	0.04	0.24	0.07	0.04	0.05	0.08	0.04	0.06	0.06	0.05	0.05	0.09	0.07	0.06	0.04	0.05	0.69
Net income	1.11	1.44	1.25	1.26	1.29	1.12	1.01	1.13	0.89	1.40	1.02	1.03	0.80	0.92	1.33	-0.34	0.51	0.80	1.09	1.18	1.10	1.57	1.02	1.53	0.08	0.51	0.46	0.82	0.67	0.58	0.44	0.53	0.51	0.62	0.38	0.41	0.38	0.39	0.32	0.32	0.37	0.37	0.30	0.31	0.26	0.29	0.23	0.28	-0.38

about 2 months ago

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17	Dec-16	Dec-15	Dec-14	Dec-13	Dec-12
Total cash and short-term investments +	10.42	10.82	14.06	10.85	9.50	13.08	10.76	9.11	5.70	4.98	3.41	2.23	1.93	0.00
Cash and cash equivalents	8.05	6.56	9.08	7.78	5.20	4.79	7.35	7.58	2.88	1.59	1.39	2.20	1.60
Short-term investments	2.37	4.26	4.98	3.08	4.30	8.29	3.41	1.53	2.81	3.39	2.02	0.03	0.32
Accounts receivable, net	47.51	45.62	46.00	44.75	41.79	36.76	26.93	22.91	26.24	19.93	16.58	14.96	12.43
Inventories			-0.46	0.02					6.40	0.00	0.00
Other current assets	1.83	4.65	2.51	1.92	1.29	1.15	0.80	0.95	0.71	0.83	0.66	0.38	0.27
Total current assets	59.76	61.09	62.57	57.52	52.57	51.00	38.50	32.96	32.65	25.73	20.65	17.57	14.62
Total non-current assets +	20.41	20.52	19.60	21.20	23.23	19.38	12.84	10.37	8.13	7.37	8.23	4.35	4.54
Property, plant and equipment, net				1.73	1.91	1.81	1.69	1.72	1.53	1.48	1.34	0.92	0.86
Goodwill	10.86	10.84	11.03	11.21	11.45	9.14	6.21	6.28	4.34	4.06	4.07	3.19	3.19
Intangible assets	0.21	0.33	0.54	0.79	1.33	1.05	0.78	0.83	0.17	0.21	0.36	0.16	0.26
Long-term investments	4.33	4.58	3.27	5.02	6.80	6.09	2.86	0.97	1.96	1.54	2.35	0.03
Other non-current assets
Total assets	80.17	81.61	82.17	78.72	75.80	70.38	51.33	43.33	40.77	33.10	28.88	21.92	19.16

Total current liabilities +	46.44	48.38	48.47	45.10	43.03	38.45	26.92	25.90	22.86	16.88	13.62	13.28	11.26
Accounts payable	0.24	39.90	42.07	40.23	39.04	35.67	24.76	21.84	20.00	15.36	12.41	10.73	9.35
Short-term debt			1.39	0.15	0.14	0.14	0.10	2.00	1.00			1.09	1.10
Current portion of long-term debt				0.57	0.62	0.64	0.40
Deferred revenue
Other current liabilities	46.20	8.48	6.39	4.06	2.76	2.65	2.16	2.00	1.78	1.52	1.21	2.56	1.91
Total non-current liabilities +	13.47	12.82	12.65	13.34	11.05	11.87	7.49	2.04	1.92	1.51	1.51	0.39	0.51
Long-term debt	9.99	9.88	9.68	10.42	8.05	8.94	4.97
Capital lease obligations
Other non-current liabilities	3.49	2.94	2.97	2.93					1.92	1.51
Total liabilities	59.92	61.19	61.12	58.44	54.08	50.32	34.40	27.95	24.78	18.39	15.12	13.67	11.77

Total stockholders' equity +	20.26	20.42	21.05	20.27	21.73	20.06	16.93	15.39	15.99	14.71	13.76	8.25	7.39
Common stock and paid-in capital	-12.21	-6.93	-2.15	1.32	5.19	7.70	8.59	9.51	12.17	12.64	13.09	7.58	7.39	0.00
Retained earnings	32.47	27.35	23.20	18.95	16.54	12.37	8.34	5.88	3.82	2.07	0.67	0.67
Common shares outstanding	968	1,039	1,107	1,158	1,186	1,187	1,188	1,203	1,221	1,218	1,229	1,262	1,229	1,188

Show Quarterly Balance Sheet

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19	Dec-18	Sep-18	Jun-18	Mar-18	Dec-17	Sep-17	Jun-17	Mar-17	Dec-16	Sep-16	Jun-16	Mar-16	Dec-15	Sep-15	Jun-15	Mar-15	Dec-14	Sep-14	Jun-14	Mar-14	Dec-13
Total cash and short-term investments +	9.34	10.42	10.76	10.01	11.21	10.82	11.92	13.61	14.32	14.06	11.54	9.89	10.65	10.85	10.83	9.31	7.97	9.50	13.29	12.40	13.09	13.08	14.16	13.05	10.19	10.76	10.46	8.42	7.85	9.11	9.59	4.97	6.31	5.70	4.92	4.09	4.06	4.98	5.09	4.96	4.77	3.41	4.30	4.41	2.38	2.23	0.00	0.00	1.93	1.93
Cash and cash equivalents	6.98	8.05	9.00	6.69	7.45	6.56	7.27	7.70	9.69	9.08	6.82	5.50	7.10	7.78	6.66	4.58	4.86	5.20	7.78	5.75	5.72	4.79	6.11	6.35	7.85	7.35	6.88	4.91	4.52	7.58	8.15	2.84	2.88	2.88	2.33	1.27	1.24	1.59	1.37	2.02	2.58	1.39	1.88	2.56	2.37	2.20			-1.93	1.60
Short-term investments	2.37	2.37	1.76	3.32	3.76	4.26	4.65	5.91	4.62	4.98	4.73	4.39	3.55	3.08	4.17	4.72	3.10	4.30	5.51	6.65	7.37	8.29	8.05	6.70	2.33	3.41	3.59	3.51	3.33	1.53	1.44	2.13	3.43	2.81	2.59	2.82	2.82	3.39	3.72	2.94	2.18	2.02	2.42	1.85	0.01	0.03			3.85	0.32
Accounts receivable, net	48.87	47.51	47.44	47.78	47.51	45.62	46.69	45.40	44.97	46.00	40.70	42.02	43.74	44.75	41.72	43.84	43.12	41.79	39.55	39.65	39.03	36.76	33.61	32.61	26.94	26.93	26.41	27.12	26.00	22.91	23.48	28.14	27.54	26.24	23.80	22.11	20.47	19.93	18.32	17.71	16.62	16.58	15.58	14.72	15.35	14.96
Inventories									-4.42	0.00	2.17	0.01	0.01	0.02	0.02	0.02															0.00	6.87	6.54	6.40	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other current assets	1.78	1.83	1.98	2.09	1.89	4.65	4.06	3.96	4.42	2.51	4.40	2.20	2.16	1.92	2.56	2.11	1.30	1.29	1.29	1.19	1.32	1.15	0.94	0.84	1.06	0.80	0.88	0.90	1.04	0.95	0.93	1.08	0.90	0.71	0.72	0.84	0.90	0.83	0.75	0.79	0.59	0.66	0.68	0.58	0.48	0.38				0.27
Total current assets	60.00	59.76	60.18	59.88	60.61	61.09	62.67	62.97	63.71	62.57	56.64	54.13	56.56	57.52	55.11	55.25	52.38	52.57	54.13	53.23	53.43	51.00	48.70	46.50	38.18	38.50	37.75	36.44	34.89	32.96	33.99	34.18	34.74	32.65	29.44	27.04	25.43	25.73	24.16	23.46	21.97	20.65	20.55	19.71	18.21	17.57			1.93
Total non-current assets +	20.55	20.41	19.63	19.90	20.66	20.52	20.84	21.04	19.64	19.60	19.81	20.45	20.63	21.20	21.33	22.56	23.42	23.23	20.40	20.59	19.09	19.38	16.88	16.67	16.08	12.84	12.48	11.96	11.39	10.37	9.73	7.49	7.58	8.13	8.32	8.26	8.07	7.37	7.20	7.17	7.50	8.23	7.34	7.20	4.37	4.35			-1.93
Property, plant and equipment, net												1.59	1.63	1.73	1.77	1.83	1.86	1.91	1.90	1.85	1.81	1.81	1.76	1.72	1.65	1.69	1.70	1.72	1.73	1.72	1.65	1.57	1.52	1.53	1.49	1.48	1.45	1.48	1.45	1.41	1.35	1.34	1.30	1.29	0.99	0.92				0.86
Goodwill	10.95	10.86	10.94	10.98	10.91	10.84	11.00	10.82	10.92	11.03	10.94	11.07	11.20	11.21	11.05	11.15	11.37	11.45	9.55	9.56	9.12	9.14	9.12	9.12	9.12	6.21	6.18	6.24	6.23	6.28	6.05	4.33	4.34	4.34	4.33	4.06	4.06	4.06	4.07	4.07	4.07	4.07	3.42	3.41	3.18	3.19				3.19
Intangible assets	0.21	0.21	0.23	0.27	0.30	0.33	0.39	0.40	0.47	0.54	0.56	0.64	0.73	0.79	0.86	1.00	1.19	1.33	0.81	0.92	0.94	1.05	1.15	1.25	1.37	0.78	0.63	0.70	0.75	0.83	0.68	0.13	0.14	0.17	0.23	0.14	0.18	0.21	0.25	0.28	0.32	0.36	0.17	0.19	0.14	0.16				3.45
Long-term investments	4.13	4.33	3.60	3.65	4.61	4.58	4.28	4.65	3.41	3.27	3.86	4.54	4.63	5.02	5.22	6.27	7.15	6.80	6.75	6.97	5.99	6.09	3.44	3.18	2.37	2.86	2.77	2.28	1.70	0.97	0.95	1.37	1.49	1.96	2.22	2.51	2.33	1.54	1.34	1.32	1.66	2.35	2.39	2.26		0.03
Other non-current assets
Total assets	80.55	80.17	79.80	79.78	81.27	81.61	83.51	84.02	83.35	82.17	76.44	74.58	77.19	78.72	76.44	77.81	75.81	75.80	74.53	73.82	72.52	70.38	65.58	63.17	54.27	51.33	50.22	48.39	46.28	43.33	43.72	41.68	42.32	40.77	37.76	35.29	33.49	33.10	31.36	30.63	29.47	28.88	27.90	26.91	22.58	21.92				19.16

Total current liabilities +	47.64	46.44	44.92	45.05	46.62	48.38	50.27	50.71	49.85	48.47	43.44	41.75	43.91	45.10	43.23	45.10	43.97	43.03	41.70	41.27	41.34	38.45	35.25	33.73	27.45	26.92	26.34	29.85	28.64	25.90	26.64	24.81	25.71	22.86	20.70	18.64	17.29	16.88	15.62	15.22	14.36	13.62	13.07	12.58	13.55	13.28				11.26
Accounts payable	41.66	0.24	40.88	41.14	41.38	39.90	41.35	41.86	41.46	42.07	38.77	37.53	39.17	40.14	37.94	40.38	39.89	39.04	37.99	38.63	38.51	35.67	32.69	31.28	25.03	24.76	24.20	25.27	24.46	21.84	22.70	20.89	20.85	20.00	18.95	17.15	15.91	15.36	14.29	14.00	13.19	12.41	11.92	11.57	11.07	10.73				9.35
Short-term debt							2.60	2.56	1.29	1.39	0.15	0.15	0.15	0.15	0.15	0.16	0.16	0.14	0.14	0.14	0.14	0.14	0.13	0.13	0.12	0.10		2.50	2.00	2.00	2.00	2.00	3.00	1.00	0.97									0.10	0.87	1.09
Current portion of long-term debt												0.51	0.53	0.57	0.57	0.61	0.65	0.62	0.62	0.61	0.63	0.64	0.59	0.61	0.61	0.40
Deferred revenue
Other current liabilities	5.97	46.20	4.05	3.91	5.24	8.48	8.92	8.85	8.39	6.39	3.53	4.22	4.74	4.06	4.22	3.70	2.83	2.76	2.56	2.49	2.73	2.65	2.46	2.12	2.28	2.09	2.04	2.02	2.10	2.00	1.94	1.84	1.77	1.78	1.67	1.41	1.30	1.52	1.32	1.22	1.17	1.21	1.16	0.91	1.61	2.56				1.02
Total non-current liabilities +	12.89	13.47	14.68	14.53	14.40	12.82	13.07	12.68	12.80	12.65	13.26	13.16	13.42	13.34	12.94	12.95	11.24	11.05	10.75	11.64	11.74	11.87	11.81	11.75	10.81	7.49	7.40	2.41	2.49	2.04	1.97	1.85	1.97	1.92	1.63	1.65	1.58	1.51	1.55	1.59	1.51	1.51	1.61	1.59	0.39	0.39
Long-term debt	9.41	9.99	11.28	11.30	11.42	9.88	9.98	9.73	9.68	9.68	10.64	10.55	10.48	10.42	10.24	10.20	8.22	8.05	7.95	8.95	8.94	8.94	8.94	8.93	7.97	4.97	4.96
Capital lease obligations
Other non-current liabilities	3.48	3.49	3.40	3.23	2.98	2.94	3.09	2.95	3.12	2.97				2.93																		1.85	1.97	1.92	1.63	1.65	1.58	1.51	1.55	1.59
Total liabilities	60.52	59.92	59.60	59.58	61.02	61.19	63.34	63.39	62.65	61.12	56.70	54.92	57.33	58.44	56.17	58.04	55.20	54.08	52.44	52.91	53.08	50.32	47.06	45.48	38.26	34.40	33.74	32.25	31.12	27.95	28.61	26.66	27.68	24.78	22.33	20.29	18.87	18.39	17.16	16.81	15.87	15.12	14.68	14.17	13.94	13.67				11.77

Total stockholders' equity +	20.02	20.26	20.20	20.20	20.25	20.42	20.17	20.62	20.70	21.05	19.74	19.66	19.86	20.27	20.26	19.77	20.60	21.73	22.09	20.91	19.44	20.02	18.48	17.64	15.97	16.89	16.48	16.14	15.16	15.39	15.12	15.02	14.64	15.99	15.43	15.00	14.63	14.71	14.19	13.82	13.60	13.76	13.21	12.74	8.64	8.25			7.39	7.39
Common stock and paid-in capital	-13.43	-12.21	-10.97	-9.71	-8.40	-6.93	-6.05	-4.59	-3.39	-2.15	-2.06	-1.12	0.11	1.32	2.23	3.06	3.56	5.19	6.36	6.26	5.98	7.65	7.67	7.85	7.71	8.54	8.65	8.77	8.61	9.51	9.82	10.16	10.31	12.17	12.23	12.17	12.21	12.64	12.51	12.46	12.57	13.09	12.91	12.74	8.64	7.58	0.00	0.00	7.39	7.39
Retained earnings	33.45	32.47	31.16	29.92	28.65	27.35	26.23	25.22	24.09	23.20	21.80	20.78	19.75	18.95	18.03	16.70	17.04	16.54	15.73	14.65	13.46	12.37	10.81	9.79	8.26	8.34	7.84	7.37	6.55	5.88	5.30	4.86	4.33	3.82	3.20	2.82	2.41	2.07	1.68	1.36	1.03	0.67	0.30	0.00		0.67
Common shares outstanding	920	939	978	977	999	1,014	1,024	1,047	1,072	1,084	1,098	1,114	1,134	1,158	1,157	1,158	1,172	1,187	1,187	1,186	1,190	1,172	1,190	1,184	1,185	1,187	1,188	1,187	1,188	1,196	1,199	1,202	1,217	1,228	1,223	1,215	1,216	1,216	1,214	1,215	1,225	1,230	1,227	1,220	1,220	1,216	1,188	1,188	1,188

about 2 months ago

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18	Dec-17	Dec-16	Dec-15	Dec-14	Dec-13	Dec-12
Operating cash flow +	6.42	7.45	4.84	5.81	5.80	6.22	4.56	5.48	2.53	3.16	2.55	2.22	1.99	1.57
Net income
Depreciation, depletion and amortization	0.96	1.03	1.07	1.32	1.27	1.19	0.91	0.78	0.81	0.72	0.61	0.52	0.45	0.38
Stock-based compensation	1.00	1.23	1.48	1.26	1.38	1.38	1.02	0.85	0.73	0.44	0.35	0.30	0.25	0.21
Change in inventory			-0.02	1.27	0.33	0.27	-0.04	1.70	-1.29	0.09	-0.04	-0.29	0.17	0.03
Other working capital changes	4.45	5.19	2.32	1.97	2.83	3.38	2.66	2.15	2.28	1.90	1.63	1.69	1.12	0.95
Cash flow from investing +	0.80	1.69	0.75	-3.33	-5.49	-16.22	-5.73	0.84	-4.49	-5.90	-8.04	-2.88	-1.72	-1.53
Capital expenditures	-0.85	-0.68	-0.62	-0.71	-0.91	-0.87	-0.70	-0.82	-0.67	-0.67	-0.72	-0.49	-0.39	-0.51
Others incl. marketable securities changes	1.65	2.37	1.38	-2.62	-4.58	-15.35	-5.03	1.66	-3.82	-5.24	-7.32	-2.39	-1.33	-1.02
Cash flow from financing +	-5.96	-8.28	-2.99	-1.20	-0.76	12.49	3.69	-1.26	4.08	2.04	4.73	1.28	-0.09	-0.21
Dividend payout	-0.13	0.00	-1.53	-3.48	-4.61	-5.02	-4.29	-2.08	0.00	0.00	0.00	0.00	0.00	0.00
Common stock repurchases	-6.05	-6.05	-5.00	-4.20	-3.37	-1.64	-1.41	-3.52	-1.01	-1.00	-0.02	3.93
Net Debt Issuance	0.22	-2.23	3.54	6.47	7.22	19.15	9.39	4.33	5.09	3.03	4.75	-2.65	-0.09	-0.21

Change in cash	1.26	0.86	2.60	1.28	-0.45	2.49	2.52	5.06	2.17	-0.71	-0.81	0.62	0.19	-0.17
Change in exchange rate									0.04		-0.04

Show Quarterly Cash Flow

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19	Dec-18	Sep-18	Jun-18	Mar-18	Dec-17	Sep-17	Jun-17	Mar-17	Dec-16	Sep-16	Jun-16	Mar-16	Dec-15	Sep-15	Jun-15	Mar-15	Dec-14	Sep-14	Jun-14	Mar-14	Dec-13
Operating cash flow +	1.13	2.38	1.97	0.90	1.16	2.39	1.61	1.53	1.92	2.61	1.26	-0.20	1.17	1.59	1.76	1.25	1.22	1.76	1.51	1.31	1.76	1.35	1.31	1.77	1.42	1.26	1.10	1.17	1.03	1.13	4.67	0.03	-0.35	-0.15	1.01	0.92	0.75	0.92	0.80	0.70	0.74	0.73	0.65	0.62	0.54	0.63	0.60	0.56	0.43	1.99
Net income
Depreciation, depletion and amortization	0.24	0.23	0.25	0.24	0.25	0.25	0.26	0.26	0.27	0.26	0.27	0.27	0.27	0.33	0.33	0.33	0.33	0.33	0.32	0.32	0.30	0.30	0.30	0.30	0.29	0.23	0.23	0.23	0.23	0.22	0.19	0.18	0.19	0.23	0.19	0.20	0.18	0.19	0.19	0.18	0.17	0.16	0.15	0.15	0.14	0.13	0.13	0.13	0.13
Stock-based compensation	0.26	0.21	0.26	0.29	0.25	0.28	0.28	0.30	0.37	0.39	0.38	0.36	0.36	0.29	0.23	0.31	0.43	0.32	0.30	0.39	0.37	0.38	0.36	0.35	0.28	0.29	0.27	0.22	0.25	0.23	0.21	0.21	0.21	0.22	0.19	0.18	0.15	0.13	0.11	0.11	0.10	0.09	0.09	0.08	0.08	0.08	0.08	0.08	0.07
Change in inventory										0.01	-0.02	-0.09	0.24	1.07	-0.03	-0.18	0.40	0.31	0.00	0.05	-0.03	0.39	-0.23	0.06	0.05	-0.01	-0.03	-0.02	0.02	-0.02	3.67	-0.99	-1.29	-1.33	0.00	0.01	0.02	0.03	0.02	0.05	0.00	-0.03	-7.44	0.01	-0.05	-0.22	0.06	0.11	-0.23
Other working capital changes	0.64	1.94	1.47	0.37	0.67	1.86	1.08	0.96	1.29	1.95	0.63	-0.74	0.31	-0.10	1.22	0.79	0.06	0.81	0.89	0.55	1.12	0.28	0.88	1.06	0.79	0.76	0.63	0.74	0.53	0.70	0.60	0.63	0.55	0.74	0.62	0.53	0.40	0.58	0.49	0.36	0.47	0.50	7.85	0.38	0.37	0.64	0.35	0.25	0.46	1.99
Cash flow from investing +	-2.10	-0.30	4.77	-0.02	-3.66	2.46	2.80	-4.55	0.98	-0.53	-0.31	1.56	0.03	-0.04	1.37	-3.91	-0.75	-3.13	0.33	-1.10	-1.58	-2.93	-3.20	-7.53	-2.55	-0.40	0.62	-1.10	-4.86	0.12	0.15	0.56	0.01	-0.96	-0.65	-1.73	-1.24	-1.83	-1.69	-1.81	0.33	-1.26	-1.80	-3.94	-0.59	-0.66	-0.44	-0.63	0.18
Capital expenditures	-0.22	-0.19	-0.26	-0.21	-0.20	-0.20	-0.17	-0.16	-0.15	-0.15	-0.16	-0.15	-0.17	-0.16	-0.18	-0.18	-0.19	-0.21	-0.23	-0.25	-0.22	-0.23	-0.24	-0.19	-0.21	-0.17	-0.17	-0.14	-0.22	-0.22	-0.22	-0.20	-0.18	-0.18	-0.17	-0.17	-0.15	-0.15	-0.18	-0.20	-0.13	-0.16	-0.13	-0.23	-0.19	-0.12	-0.17	-0.10	-0.10	-0.39
Others incl. marketable securities changes	-1.88	-0.10	5.03	0.19	-3.46	2.66	2.97	-4.39	1.13	-0.39	-0.15	1.71	0.20	0.12	1.56	-3.74	-0.56	-2.92	0.55	-0.85	-1.36	-2.71	-2.96	-7.34	-2.35	-0.23	0.80	-0.96	-4.64	0.35	0.38	0.76	0.18	-0.78	-0.49	-1.56	-1.10	-1.68	-1.51	-1.61	0.46	-1.09	-1.66	-3.71	-0.39	-0.53	-0.27	-0.53	0.28	0.39
Cash flow from financing +	-0.56	-1.95	-1.83	-3.17	0.99	-3.59	-2.53	0.20	-2.36	3.00	0.06	-3.39	-2.66	0.78	-2.97	1.66	-0.67	-0.58	-0.82	-0.20	0.83	2.36	0.91	6.91	2.31	-0.15	1.34	1.00	1.50	-1.77	1.05	-1.34	0.79	1.66	1.44	1.04	-0.05	1.14	0.24	0.54	0.11	0.05	0.48	3.51	0.24	-0.02	0.02	-0.04	-0.01
Dividend payout	-0.13	-0.13			0.00					-0.70		-2.44	-1.59	-0.26		-3.00	-0.29	0.00									0.00				0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Common stock repurchases	-1.63	-1.50	-1.50	-1.55	-1.50	-1.27	-1.78	-1.50	-1.50	-0.61	-1.43	-1.53	-1.58	-1.01	-0.94	-0.75	-1.50	-1.50	-0.35	-0.20	-1.32	-0.27	-0.37	-0.20	-0.80	-0.31	-0.35	-0.14	-0.76	-0.60	-0.60	-0.50	-1.83	-0.30	-0.10	-0.09	-0.52	-0.05	-0.05	-0.30	-0.60	-0.01	-0.01	0.00		3.93	-0.01
Net Debt Issuance	1.20	-0.32	-0.33	-1.62	2.49	-2.32	-0.75	1.70	-0.86	4.31	1.50	0.57	0.50	2.05	-2.03	5.41	1.12	0.92	-0.47	0.00	2.15	2.63	1.28	7.11	3.11	0.16	1.69	1.14	2.26	-1.17	1.65	-0.84	2.62	1.96	1.54	1.13	0.46	1.19	0.29	0.84	0.71	0.06	0.49	3.51	0.24	-3.96	0.03	-0.04	-0.01	0.00

Change in cash	-1.53	0.14	4.92	-2.30	-1.50	1.27	1.88	-2.82	0.54	5.08	1.01	-2.03	-1.46	2.33	0.16	-1.01	-0.20	-1.94	1.02	0.01	1.00	0.78	-0.98	1.16	1.18	0.72	3.06	1.07	-2.33	-0.51	5.87	-0.75	0.45	0.55	1.81	0.25	-0.54	0.24	-0.65	-0.57	1.19	-0.48	-0.67	0.19	0.20	-0.05	0.18	-0.10	0.60	1.99
Change in exchange rate																																		0.00	0.01	0.01	0.01		0.00	0.00	0.01