Margins Net margin FCF margin0% 20% 40% FY2008 · Net margin 10.0% FY08 Net margin 10.0% derived: net income ÷ revenue FY2009 · Net margin 10.3% FY09 Net margin 10.3% derived: net income ÷ revenue FY2010 · Net margin 12.8% FY10 Net margin 12.8% derived: net income ÷ revenue FY2011 · Net margin 12.5% FY11 Net margin 12.5% derived: net income ÷ revenue FY2012 · Net margin 13.4% FY12 Net margin 13.4% derived: net income ÷ revenue FY2018 · Net margin 43.1% FY18 Net margin 43.1% derived: net income ÷ revenue FY2019 · Net margin 21.5% FY19 Net margin 21.5% derived: net income ÷ revenue FY2020 · Net margin 17.2% FY20 Net margin 17.2% derived: net income ÷ revenue FY2021 · Net margin 19.0% FY21 Net margin 19.0% derived: net income ÷ revenue FY2022 · Net margin 18.0% FY22 Net margin 18.0% derived: net income ÷ revenue FY2023 · Net margin 29.5% FY23 Net margin 29.5% derived: net income ÷ revenue FY2024 · Net margin 29.6% FY24 Net margin 29.6% derived: net income ÷ revenue FY2025 · Net margin 26.5% FY25 Net margin 26.5% derived: net income ÷ revenue FY25 Net margin 26.5% derived: net income ÷ revenue ’08 ’11 ’19 ’22 ’25 FY2025: net 26.5% of revenue
Cash engine Operating cash flow Free cash flow$0 $5B $10B FY2007 · OCF $3.59B · 0000753308-10-000025 · filed 2010-02-26 FY07 OCF $3.59B 0000753308-10-000025 · filed 2010-02-26 FY2008 · OCF $3.40B · 0000753308-11-000025 · filed 2011-02-28 FY08 OCF $3.40B 0000753308-11-000025 · filed 2011-02-28 FY2009 · OCF $4.46B · 0000753308-12-000025 · filed 2012-02-28 FY09 OCF $4.46B 0000753308-12-000025 · filed 2012-02-28 FY2010 · OCF $3.83B · 0000753308-13-000023 · filed 2013-02-28 FY10 OCF $3.83B 0000753308-13-000023 · filed 2013-02-28 FY2011 · OCF $4.07B · 0000753308-14-000025 · filed 2014-02-24 FY11 OCF $4.07B 0000753308-14-000025 · filed 2014-02-24 FY2012 · OCF $3.99B · 0000753308-15-000079 · filed 2015-02-20 FY12 OCF $3.99B 0000753308-15-000079 · filed 2015-02-20 FY2013 · OCF $5.10B · 0000753308-16-000337 · filed 2016-02-22 FY13 OCF $5.10B 0000753308-16-000337 · filed 2016-02-22 FY2014 · OCF $5.50B · 0000753308-17-000060 · filed 2017-02-23 FY14 OCF $5.50B 0000753308-17-000060 · filed 2017-02-23 FY2015 · OCF $6.09B · 0000753308-18-000013 · filed 2018-02-16 FY15 OCF $6.09B 0000753308-18-000013 · filed 2018-02-16 FY2016 · OCF $6.37B · 0000753308-19-000039 · filed 2019-02-15 FY16 OCF $6.37B 0000753308-19-000039 · filed 2019-02-15 FY2017 · OCF $6.46B · 0000753308-20-000021 · filed 2020-02-14 FY17 OCF $6.46B 0000753308-20-000021 · filed 2020-02-14 FY2018 · OCF $6.59B · 0000753308-21-000014 · filed 2021-02-12 FY18 OCF $6.59B 0000753308-21-000014 · filed 2021-02-12 FY2019 · OCF $8.15B · 0000753308-22-000014 · filed 2022-02-18 FY19 OCF $8.15B 0000753308-22-000014 · filed 2022-02-18 FY2020 · OCF $7.98B · 0000753308-23-000019 · filed 2023-02-17 FY20 OCF $7.98B 0000753308-23-000019 · filed 2023-02-17 FY2021 · OCF $7.55B · 0000753308-24-000008 · filed 2024-02-16 FY21 OCF $7.55B 0000753308-24-000008 · filed 2024-02-16 FY2022 · OCF $8.26B · 0000753308-25-000011 · filed 2025-02-14 FY22 OCF $8.26B 0000753308-25-000011 · filed 2025-02-14 FY2023 · OCF $11.30B · 0000753308-26-000015 · filed 2026-02-13 FY23 OCF $11.30B 0000753308-26-000015 · filed 2026-02-13 FY2024 · OCF $13.26B · 0000753308-26-000015 · filed 2026-02-13 FY24 OCF $13.26B 0000753308-26-000015 · filed 2026-02-13 FY2025 · OCF $12.48B · 0000753308-26-000015 · filed 2026-02-13 FY25 OCF $12.48B 0000753308-26-000015 · filed 2026-02-13 FY25 OCF $12.48B 0000753308-26-000015 · filed 2026-02-13 ’09 ’13 ’17 ’21 ’25
Returns on capital Return on equity Return on assets0% 10% 20% FY2008 · ROE 14.0% · ROA 3.7% FY08 ROE 14.0% ROA 3.7% derived: net income ÷ equity · derived: net income ÷ assets FY2009 · ROE 12.5% · ROA 3.3% FY09 ROE 12.5% ROA 3.3% derived: net income ÷ equity · derived: net income ÷ assets FY2010 · ROE 13.5% · ROA 3.7% FY10 ROE 13.5% ROA 3.7% derived: net income ÷ equity · derived: net income ÷ assets FY2011 · ROE 12.9% · ROA 3.4% FY11 ROE 12.9% ROA 3.4% derived: net income ÷ equity · derived: net income ÷ assets FY2012 · ROE 11.9% · ROA 3.0% FY12 ROE 11.9% ROA 3.0% derived: net income ÷ equity · derived: net income ÷ assets FY2013 · ROE 10.6% · ROA 2.8% FY13 ROE 10.6% ROA 2.8% derived: net income ÷ equity · derived: net income ÷ assets FY2014 · ROE 12.4% · ROA 3.3% FY14 ROE 12.4% ROA 3.3% derived: net income ÷ equity · derived: net income ÷ assets FY2015 · ROE 12.2% · ROA 3.3% FY15 ROE 12.2% ROA 3.3% derived: net income ÷ equity · derived: net income ÷ assets FY2016 · ROE 11.9% · ROA 3.2% FY16 ROE 11.9% ROA 3.2% derived: net income ÷ equity · derived: net income ÷ assets FY2017 · ROE 19.1% · ROA 5.5% FY17 ROE 19.1% ROA 5.5% derived: net income ÷ equity · derived: net income ÷ assets FY2018 · ROE 19.4% · ROA 6.4% FY18 ROE 19.4% ROA 6.4% derived: net income ÷ equity · derived: net income ÷ assets FY2019 · ROE 10.2% · ROA 3.2% FY19 ROE 10.2% ROA 3.2% derived: net income ÷ equity · derived: net income ÷ assets FY2020 · ROE 8.0% · ROA 2.3% FY20 ROE 8.0% ROA 2.3% derived: net income ÷ equity · derived: net income ÷ assets FY2021 · ROE 9.6% · ROA 2.5% FY21 ROE 9.6% ROA 2.5% derived: net income ÷ equity · derived: net income ÷ assets FY2022 · ROE 10.6% · ROA 2.6% FY22 ROE 10.6% ROA 2.6% derived: net income ÷ equity · derived: net income ÷ assets FY2023 · ROE 15.4% · ROA 4.1% FY23 ROE 15.4% ROA 4.1% derived: net income ÷ equity · derived: net income ÷ assets FY2024 · ROE 13.9% · ROA 3.7% FY24 ROE 13.9% ROA 3.7% derived: net income ÷ equity · derived: net income ÷ assets FY2025 · ROE 12.5% · ROA 3.2% FY25 ROE 12.5% ROA 3.2% derived: net income ÷ equity · derived: net income ÷ assets FY25 ROE 12.5% ROA 3.2% derived: net income ÷ equity · derived: net income ÷ assets ’09 ’13 ’17 ’21 ’25 return on equity 14% (FY2008) → 13% (FY2025) · on assets 3.2%
Balance sheet Liabilities Equity$0 $100B $200B FY2019 · Liabilities $75.84B · Equity $37.01B FY19 Liabilities $75.84B Equity $37.01B 0000753308-21-000014 · filed 2021-02-12 FY2020 · Liabilities $82.75B · Equity $36.51B FY20 Liabilities $82.75B Equity $36.51B 0000753308-22-000014 · filed 2022-02-18 FY2021 · Liabilities $95.24B · Equity $37.20B FY21 Liabilities $95.24B Equity $37.20B 0000753308-23-000019 · filed 2023-02-17 FY2022 · Liabilities $109.50B · Equity $39.23B FY22 Liabilities $109.50B Equity $39.23B 0000753308-24-000008 · filed 2024-02-16 FY2023 · Liabilities $118.47B · Equity $47.47B FY23 Liabilities $118.47B Equity $47.47B 0000753308-25-000011 · filed 2025-02-14 FY2024 · Liabilities $129.28B · Equity $50.10B FY24 Liabilities $129.28B Equity $50.10B 0000753308-26-000015 · filed 2026-02-13 FY2025 · Liabilities $146.24B · Equity $54.61B FY25 Liabilities $146.24B Equity $54.61B 0000753308-26-000015 · filed 2026-02-13 FY25 Liabilities $146.24B Equity $54.61B 0000753308-26-000015 · filed 2026-02-13 ’19 ’21 ’23 ’25
FY2025: $212.72B assets · $146.24B liabilities · $54.61B equity