Analyst Ratings

Date	Action	Analyst	Rating	Target
May-18-26	Reiterated	Evercore ISI		$264 → $267
May-11-26	Reiterated	Piper Sandler	Overweight	$263 → $261
May-08-26	Reiterated	Barclays	Overweight	$245 → $268
Apr-09-26	Reiterated	UBS	Neutral	$216 → $220
Feb-06-26	Reiterated	Piper Sandler	Overweight	$230 → $263
Feb-06-26	Reiterated	Barclays	Overweight	$237 → $245
Jan-13-26	Reiterated	Wells Fargo	Overweight	$238
Jan-08-26	Reiterated	Barclays	Overweight	$251 → $237
Dec-23-25	Reiterated	Piper Sandler	Overweight	$237 → $230
Dec-15-25	Reiterated	Morgan Stanley	Equal Weight	$195 → $208

Financial Statements

DataTimeframe

Line Item (USD, M)	TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023
Total Revenue	24,594	22,791	22,043	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	19,594	17,003	19,555
Gross Profit	5,000	5,788	2,488
Selling, General and Administrative Excl. Other	0	0	0
Research and Development	0	0	0
Other Operating Expense	3,388	4,248	1,508
Operating Income	1,612	1,540	980
Interest Expense	385	366	304
Unusual Expense	—	—	—
Non-Operating Income (Expense)	-386	-366	-304
Net Income Before Taxes	1,612	1,540	980
Income Taxes	380	351	256
Consolidated Net Income	1,226	1,182	717
Net Income From Continuing Operations	1,232	1,189	724
Net Income	1,226	1,182	717
EPS (Recurring)	18.68	17.94	10.90
EPS (Basic, Before Extraordinaries)	18.68	17.94	10.90
EPS (Diluted)	18.45	17.69	10.73
EBITDA	1,998	1,949	1,330
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	11.41	11.50	—
Price To Sales Ratio	0.57	0.59	—
Gross Margin	20.33	25.40	11.29
Operating Margin	6.55	6.76	4.45
Net Margin	4.98	5.19	3.25
Shares Outstanding	66	66	66
Market Capitalization	13,896	13,428	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Hayden John W.	EVP, Controller	May 20 '26	Option Exercise	129.80	3,734	484,674	22,816	May 22 12:00 AM
Hayden John W.	EVP, Controller	May 20 '26	Sale	214.95	414	88,989	20,949	May 22 12:00 AM
HERRMANN RONALD	Executive Vice President	May 14 '26	Sale	210.58	7,000	1,474,042	3,938	May 18 12:00 AM
Cockrill Laura	EVP & Chief Strategy Officer	Mar 12 '26	Option Exercise	102.50	2,158	221,195	3,125	Mar 16 12:00 AM
Ozeki Arthur	EVP, Head of Asia Pacific	Mar 12 '26	Option Exercise	102.50	5,378	551,245	13,036	Mar 16 12:00 AM
Hayden John W.	EVP, Controller	Mar 12 '26	Option Exercise	102.50	4,504	461,660	21,605	Mar 16 12:00 AM
PORTER JONATHAN	EVP, Global Chief Risk Officer	Mar 12 '26	Option Exercise	102.50	10,912	1,118,480	17,806	Mar 16 12:00 AM
CHENG TONY KIN SHUN	President and CEO	Mar 12 '26	Option Exercise	102.50	34,776	3,564,540	50,123	Mar 16 12:00 AM
HERRMANN RONALD	EVP	Mar 12 '26	Option Exercise	102.50	13,152	1,348,080	13,795	Mar 16 12:00 AM
BARBI LESLIE	EVP, Chief Investment Officer	Mar 12 '26	Option Exercise	102.50	16,860	1,728,150	24,288	Mar 16 12:00 AM
Wainwright Simon	Exec. Advisor to CEO	Mar 12 '26	Option Exercise	102.50	4,478	458,995	16,182	Mar 16 12:00 AM
Galvin Cormac	EVP, Head of EMEA	Mar 12 '26	Option Exercise	102.50	2,992	306,680	4,236	Mar 16 12:00 AM
Kleeman Raymond	EVP, Chief HR Officer	Mar 12 '26	Option Exercise	102.50	9,106	933,365	12,250	Mar 16 12:00 AM
PORTER JONATHAN	EVP, Global Chief Risk Officer	Feb 11 '26	Option Exercise	140.36	4,983	699,418	12,512	Feb 13 12:00 AM
HERRMANN RONALD	EVP	Feb 11 '26	Option Exercise	106.53	7,042	750,185	7,934	Feb 12 12:00 AM


Market Cap	13.88B	Forward P/E	7.24	EPS next Y	29.07	Insider Trans	0.24%	Shs Float	-	Perf Month	0.10%


Enterprise Value	14.99B	PEG	0.21	EPS next Q	6.52	Inst Own	-	Short Float	-	Perf Quarter	5.01%


Income	1.22B	P/S	0.56	EPS this Y	45.47%	Inst Trans	-	Short Ratio	-	Perf Half Y	4.02%


Sales	24.59B	P/B	1.05	EPS next Y	8.29%	ROA	0.75%	Short Interest	-	Perf YTD	3.48%


Book/sh	204.30	P/C	2.53	EPS next 5Y	10.79%	ROE	9.47%	52W High	229.22 -8.15%	Perf Year	7.95%


Cash/sh	76.22	P/FCF	2.51	EPS past 3/5Y	-	ROIC	0.75%	52W Low	165.52 27.20%	Perf 3Y	-


Dividend Est.	3.72 (1.77%)	EV/EBITDA	7.50	Sales past 3/5Y	12.80% 9.34%	Gross Margin	20.33%	Volatility	1.53% 1.48%	Perf 5Y	-


Dividend TTM	3.72 (1.77%)	EV/Sales	0.61	EPS Y/Y TTM	140.54%	Oper. Margin	6.55%	ATR (14)	4.84	Perf 10Y	-


Dividend Ex-Date	May 19, 2026	Quick Ratio	0.00	Sales Y/Y TTM	11.57%	Profit Margin	4.99%	RSI (14)	55.41	Recom	2.67


Dividend Gr. 3/5Y	5.96% 5.39%	Current Ratio	0.00	EPS Q/Q	23.14%	SMA20	2.27%	Beta	0.48	Target Price	250.80


Payout	19.74%	Debt/Eq	0.46	Sales Q/Q	22.39%	SMA50	1.05%	Rel Volume	1.76	Prev Close	211.83


Employees	4,100	LT Debt/Eq	0.42	Earnings	Jul 30	SMA200	4.59%	Avg Volume	360.29K	Price	210.54


IPO Date	Sep 12, 2008	Option/Short	Yes / Yes	EPS/Sales Surpr.	15.59% 0.37%	Net Debt/EBITDA	0.56	Volume	634,530	Change	-0.61%

RGA