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These statements are predictions based upon our current expectations about future events. Actual results could vary materially as a result of certain factors, including but not limited to those expressed in these statements.
$373.59
+$15.13 (+4.22%)
Price from 12 days ago
Margins and capital returns are both well above average: 28.17% operating margin, ROIC at 20.58%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 14.1%, still solid.
At 87x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 24.10% to 20.58%, capital efficiency is deteriorating.
87.1x earnings, 71.5x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$5.53B
▲ +14.1% YoY
Net Income (TTM)
$1.17B
▲ +5.1% YoY
Op. Margin
28.25%
▼ -0.9pp YoY
ROIC
20.14%
▼ -3.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1.43B
▲ +41.9% YoY
Op. Cash Flow (TTM)
$1.60B
▲ +37.1% YoY
Net Debt
-$1.23B
Net Cash Position
Cash & Equiv.
$1.41B
5Y CAGR: +14.6%
5Y CAGR: +14.4%
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