Fewer U.S. guests are spending more per visit
- Umsatz
- $94,7 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 5,8 %
EPYC and Instinct growth must justify bigger commitments
More payment revenue must leave more profit
- Umsatz
- $11,5 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 6,1 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- −$1,1 Mrd.
- Operative Marge
- 36,7 %
- Umsatz
- $12 Mrd.
- Freier Cashflow
- −$3,8 Mrd.
- Operative Marge
- -7,3 %
- Umsatz
- $7,1 Mrd.
- Freier Cashflow
- $1,8 Mrd.
- Operative Marge
- 32,5 %
Fewer U.S. guests are spending more per visit
- Umsatz
- $94,7 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 5,8 %
EPYC and Instinct growth must justify bigger commitments
More payment revenue must leave more profit
- Umsatz
- $11,5 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 6,1 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- −$1,1 Mrd.
- Operative Marge
- 36,7 %
- Umsatz
- $12 Mrd.
- Freier Cashflow
- −$3,8 Mrd.
- Operative Marge
- -7,3 %
- Umsatz
- $7,1 Mrd.
- Freier Cashflow
- $1,8 Mrd.
- Operative Marge
- 32,5 %
Fewer U.S. guests are spending more per visit
- Umsatz
- $94,7 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 5,8 %
EPYC and Instinct growth must justify bigger commitments
More payment revenue must leave more profit
- Umsatz
- $11,5 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 6,1 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- −$1,1 Mrd.
- Operative Marge
- 36,7 %
- Umsatz
- $12 Mrd.
- Freier Cashflow
- −$3,8 Mrd.
- Operative Marge
- -7,3 %
- Umsatz
- $7,1 Mrd.
- Freier Cashflow
- $1,8 Mrd.
- Operative Marge
- 32,5 %
Product renewal must lift demand without sacrificing margins
Processor strength, factory returns unresolved
- Umsatz
- $967,3 Mio.
- Freier Cashflow
- $192,8 Mio.
- Operative Marge
- 13,4 %
- Umsatz
- $123,7 Mrd.
- Freier Cashflow
- $21,9 Mrd.
- Operative Marge
- 16,7 %
- Umsatz
- $5,8 Mrd.
- Freier Cashflow
- $874,7 Mio.
- Operative Marge
- 20,7 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 29,5 %
- Umsatz
- $34 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 26,3 %
Product renewal must lift demand without sacrificing margins
Processor strength, factory returns unresolved
- Umsatz
- $967,3 Mio.
- Freier Cashflow
- $192,8 Mio.
- Operative Marge
- 13,4 %
- Umsatz
- $123,7 Mrd.
- Freier Cashflow
- $21,9 Mrd.
- Operative Marge
- 16,7 %
- Umsatz
- $5,8 Mrd.
- Freier Cashflow
- $874,7 Mio.
- Operative Marge
- 20,7 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 29,5 %
- Umsatz
- $34 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 26,3 %
Product renewal must lift demand without sacrificing margins
Processor strength, factory returns unresolved
- Umsatz
- $967,3 Mio.
- Freier Cashflow
- $192,8 Mio.
- Operative Marge
- 13,4 %
- Umsatz
- $123,7 Mrd.
- Freier Cashflow
- $21,9 Mrd.
- Operative Marge
- 16,7 %
- Umsatz
- $5,8 Mrd.
- Freier Cashflow
- $874,7 Mio.
- Operative Marge
- 20,7 %
- Umsatz
- $5,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 29,5 %
- Umsatz
- $34 Mrd.
- Freier Cashflow
- $5,1 Mrd.
- Operative Marge
- 26,3 %
Advertising demand is strong; cost conversion needs to improve
- Umsatz
- $1,6 Mrd.
- Freier Cashflow
- $207,4 Mio.
- Operative Marge
- -3,2 %
Rapid product growth must remain profitable and cash-generative
- Umsatz
- $6,1 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 20,8 %
- Umsatz
- $6,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 17,4 %
- Umsatz
- $10,6 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 45,5 %
- Umsatz
- $23,1 Mrd.
- Freier Cashflow
- $4,4 Mrd.
- Operative Marge
- 25,4 %
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 21,6 %
Advertising demand is strong; cost conversion needs to improve
- Umsatz
- $1,6 Mrd.
- Freier Cashflow
- $207,4 Mio.
- Operative Marge
- -3,2 %
Rapid product growth must remain profitable and cash-generative
- Umsatz
- $6,1 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 20,8 %
- Umsatz
- $6,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 17,4 %
- Umsatz
- $10,6 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 45,5 %
- Umsatz
- $23,1 Mrd.
- Freier Cashflow
- $4,4 Mrd.
- Operative Marge
- 25,4 %
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 21,6 %
Advertising demand is strong; cost conversion needs to improve
- Umsatz
- $1,6 Mrd.
- Freier Cashflow
- $207,4 Mio.
- Operative Marge
- -3,2 %
Rapid product growth must remain profitable and cash-generative
- Umsatz
- $6,1 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 20,8 %
- Umsatz
- $6,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 17,4 %
- Umsatz
- $10,6 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 45,5 %
- Umsatz
- $23,1 Mrd.
- Freier Cashflow
- $4,4 Mrd.
- Operative Marge
- 25,4 %
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 21,6 %
- Umsatz
- $23,2 Mrd.
- Freier Cashflow
- $4,9 Mrd.
- Operative Marge
- 35,3 %
Price investment faces a durability test
Netflix must keep earning viewers' time profitably
- Umsatz
- $47,9 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 28,7 %
- Umsatz
- $321,3 Mrd.
- Freier Cashflow
- $3,2 Mrd.
- Operative Marge
- 0,8 %
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 20,5 %
- Umsatz
- $41,5 Mrd.
- Freier Cashflow
- $14,4 Mrd.
- Operative Marge
- 20,1 %
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- −$1 Mrd.
- Operative Marge
- 14,6 %
- Umsatz
- $23,2 Mrd.
- Freier Cashflow
- $4,9 Mrd.
- Operative Marge
- 35,3 %
Price investment faces a durability test
Netflix must keep earning viewers' time profitably
- Umsatz
- $47,9 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 28,7 %
- Umsatz
- $321,3 Mrd.
- Freier Cashflow
- $3,2 Mrd.
- Operative Marge
- 0,8 %
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 20,5 %
- Umsatz
- $41,5 Mrd.
- Freier Cashflow
- $14,4 Mrd.
- Operative Marge
- 20,1 %
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- −$1 Mrd.
- Operative Marge
- 14,6 %
- Umsatz
- $23,2 Mrd.
- Freier Cashflow
- $4,9 Mrd.
- Operative Marge
- 35,3 %
Price investment faces a durability test
Netflix must keep earning viewers' time profitably
- Umsatz
- $47,9 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 28,7 %
- Umsatz
- $321,3 Mrd.
- Freier Cashflow
- $3,2 Mrd.
- Operative Marge
- 0,8 %
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 20,5 %
- Umsatz
- $41,5 Mrd.
- Freier Cashflow
- $14,4 Mrd.
- Operative Marge
- 20,1 %
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- −$1 Mrd.
- Operative Marge
- 14,6 %
Existing businesses are funding an unproven AI expansion
Device scale proven, Services profit case open
- Umsatz
- $3 Mrd.
- Freier Cashflow
- $300,1 Mio.
- Operative Marge
- 17,4 %
AI deliveries outpace cash conversion
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 20,2 %
- Umsatz
- $32,5 Mrd.
- Freier Cashflow
- −$188 Mio.
- Umsatz
- $65 Mrd.
- Freier Cashflow
- $12,4 Mrd.
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 45,7 %
Existing businesses are funding an unproven AI expansion
Device scale proven, Services profit case open
- Umsatz
- $3 Mrd.
- Freier Cashflow
- $300,1 Mio.
- Operative Marge
- 17,4 %
AI deliveries outpace cash conversion
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 20,2 %
- Umsatz
- $32,5 Mrd.
- Freier Cashflow
- −$188 Mio.
- Umsatz
- $65 Mrd.
- Freier Cashflow
- $12,4 Mrd.
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 45,7 %
Existing businesses are funding an unproven AI expansion
Device scale proven, Services profit case open
- Umsatz
- $3 Mrd.
- Freier Cashflow
- $300,1 Mio.
- Operative Marge
- 17,4 %
AI deliveries outpace cash conversion
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 20,2 %
- Umsatz
- $32,5 Mrd.
- Freier Cashflow
- −$188 Mio.
- Umsatz
- $65 Mrd.
- Freier Cashflow
- $12,4 Mrd.
- Umsatz
- $13 Mrd.
- Freier Cashflow
- $4,1 Mrd.
- Operative Marge
- 45,7 %
Networking profits are improving. Cash has not followed yet.
- Umsatz
- $16,1 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 17 %
New transformation work must replace services technology displaces
New medicines and lower costs must support Pfizer's next chapter
- Umsatz
- $254,2 Mrd.
- Freier Cashflow
- $4,5 Mrd.
- Operative Marge
- 1 %
- Umsatz
- $20,6 Mrd.
- Operative Marge
- 13,4 %
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 16,1 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 29,2 %
Networking profits are improving. Cash has not followed yet.
- Umsatz
- $16,1 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 17 %
New transformation work must replace services technology displaces
New medicines and lower costs must support Pfizer's next chapter
- Umsatz
- $254,2 Mrd.
- Freier Cashflow
- $4,5 Mrd.
- Operative Marge
- 1 %
- Umsatz
- $20,6 Mrd.
- Operative Marge
- 13,4 %
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 16,1 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 29,2 %
Networking profits are improving. Cash has not followed yet.
- Umsatz
- $16,1 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 17 %
New transformation work must replace services technology displaces
New medicines and lower costs must support Pfizer's next chapter
- Umsatz
- $254,2 Mrd.
- Freier Cashflow
- $4,5 Mrd.
- Operative Marge
- 1 %
- Umsatz
- $20,6 Mrd.
- Operative Marge
- 13,4 %
- Umsatz
- $8,2 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 16,1 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 29,2 %
Other equipment markets must offset weak large agriculture
Marketplace profits growing; expansion returns unproven
- Umsatz
- $7,2 Mrd.
- Freier Cashflow
- $2,4 Mrd.
- Operative Marge
- 21,9 %
- Umsatz
- $6,1 Mrd.
- Operative Marge
- 10,8 %
- Umsatz
- $11,3 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 23,1 %
- Umsatz
- $23,6 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Umsatz
- $9,4 Mrd.
- Freier Cashflow
- −$2,4 Mrd.
- Operative Marge
- 22,6 %
Other equipment markets must offset weak large agriculture
Marketplace profits growing; expansion returns unproven
- Umsatz
- $7,2 Mrd.
- Freier Cashflow
- $2,4 Mrd.
- Operative Marge
- 21,9 %
- Umsatz
- $6,1 Mrd.
- Operative Marge
- 10,8 %
- Umsatz
- $11,3 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 23,1 %
- Umsatz
- $23,6 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Umsatz
- $9,4 Mrd.
- Freier Cashflow
- −$2,4 Mrd.
- Operative Marge
- 22,6 %
Other equipment markets must offset weak large agriculture
Marketplace profits growing; expansion returns unproven
- Umsatz
- $7,2 Mrd.
- Freier Cashflow
- $2,4 Mrd.
- Operative Marge
- 21,9 %
- Umsatz
- $6,1 Mrd.
- Operative Marge
- 10,8 %
- Umsatz
- $11,3 Mrd.
- Freier Cashflow
- $1,9 Mrd.
- Operative Marge
- 23,1 %
- Umsatz
- $23,6 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Umsatz
- $9,4 Mrd.
- Freier Cashflow
- −$2,4 Mrd.
- Operative Marge
- 22,6 %
Capacity-return inflection
Growing cloud demand must earn the larger infrastructure base
- Umsatz
- $13,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 12 %
- Umsatz
- $4 Mrd.
- Freier Cashflow
- $848,6 Mio.
- Umsatz
- $982 Mio.
- Freier Cashflow
- −$233,1 Mio.
- Operative Marge
- -44,5 %
- Umsatz
- $164,7 Mrd.
- Freier Cashflow
- $12,6 Mrd.
- Operative Marge
- 12,7 %
- Umsatz
- $402,1 Mrd.
- Freier Cashflow
- $7,8 Mrd.
- Operative Marge
- 1,2 %
Capacity-return inflection
Growing cloud demand must earn the larger infrastructure base
- Umsatz
- $13,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 12 %
- Umsatz
- $4 Mrd.
- Freier Cashflow
- $848,6 Mio.
- Umsatz
- $982 Mio.
- Freier Cashflow
- −$233,1 Mio.
- Operative Marge
- -44,5 %
- Umsatz
- $164,7 Mrd.
- Freier Cashflow
- $12,6 Mrd.
- Operative Marge
- 12,7 %
- Umsatz
- $402,1 Mrd.
- Freier Cashflow
- $7,8 Mrd.
- Operative Marge
- 1,2 %
Capacity-return inflection
Growing cloud demand must earn the larger infrastructure base
- Umsatz
- $13,2 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 12 %
- Umsatz
- $4 Mrd.
- Freier Cashflow
- $848,6 Mio.
- Umsatz
- $982 Mio.
- Freier Cashflow
- −$233,1 Mio.
- Operative Marge
- -44,5 %
- Umsatz
- $164,7 Mrd.
- Freier Cashflow
- $12,6 Mrd.
- Operative Marge
- 12,7 %
- Umsatz
- $402,1 Mrd.
- Freier Cashflow
- $7,8 Mrd.
- Operative Marge
- 1,2 %
- Umsatz
- $12,9 Mrd.
- Freier Cashflow
- −$2,5 Mrd.
- Operative Marge
- 24,7 %
Operating progress must remain useful when price support fades
More sales must become stronger margins as comparable transactions fall
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $921,7 Mio.
- Operative Marge
- 19,9 %
- Umsatz
- $94,2 Mrd.
- Freier Cashflow
- $19,7 Mrd.
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 37,2 %
- Umsatz
- $4,3 Mrd.
- Freier Cashflow
- $931 Mio.
- Operative Marge
- 18,6 %
- Umsatz
- $12,2 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 35,8 %
- Umsatz
- $12,9 Mrd.
- Freier Cashflow
- −$2,5 Mrd.
- Operative Marge
- 24,7 %
Operating progress must remain useful when price support fades
More sales must become stronger margins as comparable transactions fall
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $921,7 Mio.
- Operative Marge
- 19,9 %
- Umsatz
- $94,2 Mrd.
- Freier Cashflow
- $19,7 Mrd.
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 37,2 %
- Umsatz
- $4,3 Mrd.
- Freier Cashflow
- $931 Mio.
- Operative Marge
- 18,6 %
- Umsatz
- $12,2 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 35,8 %
- Umsatz
- $12,9 Mrd.
- Freier Cashflow
- −$2,5 Mrd.
- Operative Marge
- 24,7 %
Operating progress must remain useful when price support fades
More sales must become stronger margins as comparable transactions fall
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $921,7 Mio.
- Operative Marge
- 19,9 %
- Umsatz
- $94,2 Mrd.
- Freier Cashflow
- $19,7 Mrd.
- Umsatz
- $15,1 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 37,2 %
- Umsatz
- $4,3 Mrd.
- Freier Cashflow
- $931 Mio.
- Operative Marge
- 18,6 %
- Umsatz
- $12,2 Mrd.
- Freier Cashflow
- $2,2 Mrd.
- Operative Marge
- 35,8 %
Technology comes first. Customer orders must follow.
Higher fees and lending income must outgrow costs and credit losses
- Umsatz
- $403,4 Mrd.
- Freier Cashflow
- $5,7 Mrd.
- Operative Marge
- 1,5 %
- Umsatz
- $19,4 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 8,5 %
- Umsatz
- $23,8 Mrd.
- Freier Cashflow
- $9,9 Mrd.
- Operative Marge
- 36,6 %
- Umsatz
- $45,9 Mrd.
- Freier Cashflow
- $7,3 Mrd.
- Umsatz
- $12 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 22,4 %
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- -6,1 %
Technology comes first. Customer orders must follow.
Higher fees and lending income must outgrow costs and credit losses
- Umsatz
- $403,4 Mrd.
- Freier Cashflow
- $5,7 Mrd.
- Operative Marge
- 1,5 %
- Umsatz
- $19,4 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 8,5 %
- Umsatz
- $23,8 Mrd.
- Freier Cashflow
- $9,9 Mrd.
- Operative Marge
- 36,6 %
- Umsatz
- $45,9 Mrd.
- Freier Cashflow
- $7,3 Mrd.
- Umsatz
- $12 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 22,4 %
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- -6,1 %
Technology comes first. Customer orders must follow.
Higher fees and lending income must outgrow costs and credit losses
- Umsatz
- $403,4 Mrd.
- Freier Cashflow
- $5,7 Mrd.
- Operative Marge
- 1,5 %
- Umsatz
- $19,4 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 8,5 %
- Umsatz
- $23,8 Mrd.
- Freier Cashflow
- $9,9 Mrd.
- Operative Marge
- 36,6 %
- Umsatz
- $45,9 Mrd.
- Freier Cashflow
- $7,3 Mrd.
- Umsatz
- $12 Mrd.
- Freier Cashflow
- $2 Mrd.
- Operative Marge
- 22,4 %
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- -6,1 %
Strong refining margins meet a smaller refinery base
- Umsatz
- $27,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
Proven profits, open commitments
- Umsatz
- $303,2 Mrd.
- Freier Cashflow
- $9,4 Mrd.
- Operative Marge
- 3,9 %
- Umsatz
- $17,2 Mrd.
- Freier Cashflow
- $3,1 Mrd.
- Umsatz
- $18,9 Mrd.
- Freier Cashflow
- $8,2 Mrd.
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $953,4 Mio.
- Operative Marge
- 9,5 %
- Umsatz
- $14,1 Mrd.
- Freier Cashflow
- $1,7 Mrd.
- Operative Marge
- 32,1 %
Strong refining margins meet a smaller refinery base
- Umsatz
- $27,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
Proven profits, open commitments
- Umsatz
- $303,2 Mrd.
- Freier Cashflow
- $9,4 Mrd.
- Operative Marge
- 3,9 %
- Umsatz
- $17,2 Mrd.
- Freier Cashflow
- $3,1 Mrd.
- Umsatz
- $18,9 Mrd.
- Freier Cashflow
- $8,2 Mrd.
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $953,4 Mio.
- Operative Marge
- 9,5 %
- Umsatz
- $14,1 Mrd.
- Freier Cashflow
- $1,7 Mrd.
- Operative Marge
- 32,1 %
Strong refining margins meet a smaller refinery base
- Umsatz
- $27,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
Proven profits, open commitments
- Umsatz
- $303,2 Mrd.
- Freier Cashflow
- $9,4 Mrd.
- Operative Marge
- 3,9 %
- Umsatz
- $17,2 Mrd.
- Freier Cashflow
- $3,1 Mrd.
- Umsatz
- $18,9 Mrd.
- Freier Cashflow
- $8,2 Mrd.
- Umsatz
- $11,1 Mrd.
- Freier Cashflow
- $953,4 Mio.
- Operative Marge
- 9,5 %
- Umsatz
- $14,1 Mrd.
- Freier Cashflow
- $1,7 Mrd.
- Operative Marge
- 32,1 %
Search and Cloud must earn the growing computing commitment
New medicines must keep replacing older sales
- Umsatz
- $24,6 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 19,1 %
- Umsatz
- $63,4 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 9,2 %
- Umsatz
- $36,8 Mrd.
- Freier Cashflow
- $8,1 Mrd.
- Operative Marge
- 24,7 %
- Umsatz
- $21,9 Mrd.
- Freier Cashflow
- $5,2 Mrd.
- Umsatz
- $20,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
- Operative Marge
- 16,2 %
Search and Cloud must earn the growing computing commitment
New medicines must keep replacing older sales
- Umsatz
- $24,6 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 19,1 %
- Umsatz
- $63,4 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 9,2 %
- Umsatz
- $36,8 Mrd.
- Freier Cashflow
- $8,1 Mrd.
- Operative Marge
- 24,7 %
- Umsatz
- $21,9 Mrd.
- Freier Cashflow
- $5,2 Mrd.
- Umsatz
- $20,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
- Operative Marge
- 16,2 %
Search and Cloud must earn the growing computing commitment
New medicines must keep replacing older sales
- Umsatz
- $24,6 Mrd.
- Freier Cashflow
- $5,3 Mrd.
- Operative Marge
- 19,1 %
- Umsatz
- $63,4 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 9,2 %
- Umsatz
- $36,8 Mrd.
- Freier Cashflow
- $8,1 Mrd.
- Operative Marge
- 24,7 %
- Umsatz
- $21,9 Mrd.
- Freier Cashflow
- $5,2 Mrd.
- Umsatz
- $20,4 Mrd.
- Freier Cashflow
- $3,6 Mrd.
- Operative Marge
- 16,2 %
Growing payments and services must leave enough profit after customer incentives
- Umsatz
- $2,3 Mrd.
- Freier Cashflow
- $109,1 Mio.
- Operative Marge
- -13,4 %
More payments must leave more profit
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $665,3 Mio.
- Operative Marge
- 4,1 %
- Umsatz
- $67,6 Mrd.
- Freier Cashflow
- $8,9 Mrd.
- Operative Marge
- 16,5 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 24,8 %
- Umsatz
- $189 Mrd.
- Freier Cashflow
- $16,6 Mrd.
- Umsatz
- $21,7 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Operative Marge
- 10 %
Growing payments and services must leave enough profit after customer incentives
- Umsatz
- $2,3 Mrd.
- Freier Cashflow
- $109,1 Mio.
- Operative Marge
- -13,4 %
More payments must leave more profit
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $665,3 Mio.
- Operative Marge
- 4,1 %
- Umsatz
- $67,6 Mrd.
- Freier Cashflow
- $8,9 Mrd.
- Operative Marge
- 16,5 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 24,8 %
- Umsatz
- $189 Mrd.
- Freier Cashflow
- $16,6 Mrd.
- Umsatz
- $21,7 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Operative Marge
- 10 %
Growing payments and services must leave enough profit after customer incentives
- Umsatz
- $2,3 Mrd.
- Freier Cashflow
- $109,1 Mio.
- Operative Marge
- -13,4 %
More payments must leave more profit
- Umsatz
- $4,8 Mrd.
- Freier Cashflow
- $665,3 Mio.
- Operative Marge
- 4,1 %
- Umsatz
- $67,6 Mrd.
- Freier Cashflow
- $8,9 Mrd.
- Operative Marge
- 16,5 %
- Umsatz
- $8,3 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 24,8 %
- Umsatz
- $189 Mrd.
- Freier Cashflow
- $16,6 Mrd.
- Umsatz
- $21,7 Mrd.
- Freier Cashflow
- $2,1 Mrd.
- Operative Marge
- 10 %
- Umsatz
- $25,9 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 25,2 %
Deeper adoption, durability unproven
Cloud capacity returns unresolved
- Umsatz
- $85,5 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 10,6 %
- Umsatz
- $25,5 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 12,1 %
- Umsatz
- $37,4 Mrd.
- Freier Cashflow
- $2,9 Mrd.
- Operative Marge
- 14,5 %
- Umsatz
- $80,3 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Umsatz
- $3,2 Mrd.
- Freier Cashflow
- $396,2 Mio.
- Operative Marge
- 14,3 %
- Umsatz
- $25,9 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 25,2 %
Deeper adoption, durability unproven
Cloud capacity returns unresolved
- Umsatz
- $85,5 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 10,6 %
- Umsatz
- $25,5 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 12,1 %
- Umsatz
- $37,4 Mrd.
- Freier Cashflow
- $2,9 Mrd.
- Operative Marge
- 14,5 %
- Umsatz
- $80,3 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Umsatz
- $3,2 Mrd.
- Freier Cashflow
- $396,2 Mio.
- Operative Marge
- 14,3 %
- Umsatz
- $25,9 Mrd.
- Freier Cashflow
- $1,1 Mrd.
- Operative Marge
- 25,2 %
Deeper adoption, durability unproven
Cloud capacity returns unresolved
- Umsatz
- $85,5 Mrd.
- Freier Cashflow
- $3,8 Mrd.
- Operative Marge
- 10,6 %
- Umsatz
- $25,5 Mrd.
- Freier Cashflow
- $1,3 Mrd.
- Operative Marge
- 12,1 %
- Umsatz
- $37,4 Mrd.
- Freier Cashflow
- $2,9 Mrd.
- Operative Marge
- 14,5 %
- Umsatz
- $80,3 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Umsatz
- $3,2 Mrd.
- Freier Cashflow
- $396,2 Mio.
- Operative Marge
- 14,3 %
Aircraft recovery still lacks durable returns
Device sales are growing. Acquired diagnostics must earn their cost.
- Umsatz
- $24,9 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 18,6 %
- Umsatz
- $11,7 Mrd.
- Freier Cashflow
- $2,6 Mrd.
- Operative Marge
- 25,6 %
- Umsatz
- $4,6 Mrd.
- Freier Cashflow
- $333,7 Mio.
- Operative Marge
- 14 %
- Umsatz
- $5,5 Mrd.
- Operative Marge
- 75,8 %
- Umsatz
- $6,5 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Operative Marge
- 64,9 %
- Umsatz
- $28,4 Mrd.
- Freier Cashflow
- $3,7 Mrd.
Aircraft recovery still lacks durable returns
Device sales are growing. Acquired diagnostics must earn their cost.
- Umsatz
- $24,9 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 18,6 %
- Umsatz
- $11,7 Mrd.
- Freier Cashflow
- $2,6 Mrd.
- Operative Marge
- 25,6 %
- Umsatz
- $4,6 Mrd.
- Freier Cashflow
- $333,7 Mio.
- Operative Marge
- 14 %
- Umsatz
- $5,5 Mrd.
- Operative Marge
- 75,8 %
- Umsatz
- $6,5 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Operative Marge
- 64,9 %
- Umsatz
- $28,4 Mrd.
- Freier Cashflow
- $3,7 Mrd.
Aircraft recovery still lacks durable returns
Device sales are growing. Acquired diagnostics must earn their cost.
- Umsatz
- $24,9 Mrd.
- Freier Cashflow
- $1,4 Mrd.
- Operative Marge
- 18,6 %
- Umsatz
- $11,7 Mrd.
- Freier Cashflow
- $2,6 Mrd.
- Operative Marge
- 25,6 %
- Umsatz
- $4,6 Mrd.
- Freier Cashflow
- $333,7 Mio.
- Operative Marge
- 14 %
- Umsatz
- $5,5 Mrd.
- Operative Marge
- 75,8 %
- Umsatz
- $6,5 Mrd.
- Freier Cashflow
- $4,2 Mrd.
- Operative Marge
- 64,9 %
- Umsatz
- $28,4 Mrd.
- Freier Cashflow
- $3,7 Mrd.




