{"schemaVersion":1,"research":true,"symbol":"mbgl","name":"Mobility Global","topic":"moat","path":"/stock/mbgl/moat","status":"published","version":8,"updatedAt":"2026-10-19T15:38:21.704Z","locked":false,"publicFairValue":false,"fairValue":null,"moat":{"verdict":"narrow","summary":"Mobility Global has a narrow moat supported by its accumulated automotive data, CARFAX brand and established customer integration. Disclosed customer penetration and realized subscription price increases support a current advantage. Switching costs offer secondary support, but customer lock-in and network effects are not demonstrated. Rising acquisition costs, alternative providers and limited standalone operating history constrain durability.","advantages":[{"mechanism":"intangible_assets","claim":"The accumulated automotive data estate and CARFAX brand support differentiated offerings. Broad customer penetration and realized subscription price increases corroborate commercial value beyond management's leadership claims.","durability":"Historical data accumulation, contributor relationships and established customer adoption support persistence, conditional on continued data access, quality and brand relevance. The evidence supports a narrow moat rather than exceptional durability.","risks":"Data exclusivity depends on third-party agreements. AI-enabled competition and rising paid customer acquisition costs could weaken differentiation or its economic benefits. These competitive risks are possibilities; rising acquisition costs are disclosed as current.","invalidation":"The assessment would fail if loss of material data rights or equivalent competing datasets eliminated differentiation, or if repeated price increases produced sustained customer losses and declining subscription demand.","competitors":[],"evidenceIds":["e1","e2","e3","e4","e5","e6","e7"],"counterEvidenceIds":["e8","e9","e10","e11","e12"]},{"mechanism":"switching_costs","claim":"Daily OEM workflow use and integration with dealer systems create some replacement friction. Disclosed product adoption and recurring subscriptions support an existing relationship advantage, although migration costs and customer lock-in are not quantified.","durability":"Potentially persistent while data remains useful and embedded in daily decisions. This is a supporting advantage with weaker evidence than the data estate, rather than a separately established strong moat.","risks":"Monthly subscriptions allow relatively frequent renewal decisions, and the issuer explicitly acknowledges that customers can switch or stop using its products. Reported high retention lacks quantified renewal or customer-cohort evidence.","invalidation":"Sustained declines in renewals or product engagement, or evidence that customers routinely replace integrated products without meaningful disruption, would invalidate the switching-cost contribution.","competitors":[],"evidenceIds":["e13","e14","e15","e16","e17","e18"],"counterEvidenceIds":["e11","e12"]}],"evidence":[{"id":"e1","sourceId":"filing-1","location":"Summary / Our Company / data history and contributor network","excerpt":"With more than 100 years of data stewardship and a contributory network of more than 177,000 sources as of December 31, 2025, we believe we have built an unrivaled data estate that powers critical decisions for suppliers, OEMs, dealers, finance & insurance (“F&I”) firms and consumers in a global automotive market valued at approximately $8.0 trillion in 2025 according to management estimates."},{"id":"e2","sourceId":"filing-1","location":"Summary / Our Company / customer penetration","excerpt":"We source, cleanse and incorporate thousands of datasets to generate unique, predictive insights at scale that are deeply embedded in client workflows, supporting the top 40 global automakers that cover 96% of global production as of December 31, 2025 according to internal data and more than 40,000 dealer customers across a global footprint spanning North America, Europe, the Middle East and Africa (“EMEA”) and Asia-Pacific (“APAC”) as of December 31, 2025."},{"id":"e3","sourceId":"filing-1","location":"Summary / CARFAX / proprietary data and brand","excerpt":"CARFAX uses a vast proprietary data estate and brand to help consumers buy the right car at the right price, sell confidently and maintain their vehicles, while helping dealers build shopper confidence, convert more leads and drive service loyalty."},{"id":"e4","sourceId":"filing-1","location":"Business / Strategy & Planning / customer coverage","excerpt":"We serve 100% of the top 40 global carmakers, 94% of the top 100 automotive suppliers, and 100% of the top 10 investment banks as of December 31, 2025, according to internal data."},{"id":"e5","sourceId":"filing-1","location":"Business / Strategy & Planning / dataset coverage","excerpt":"Our data estate covers virtually all global vehicle production with over 80 million rows of actively updated data and more than 2,000 data attributes per vehicle as of December 31, 2025."},{"id":"e6","sourceId":"filing-2","location":"MD&A / Revenue / realized subscription price increases","excerpt":"2025, primarily attributable to an increase in subscription revenue, driven primarily by price increases of approximately"},{"id":"e7","sourceId":"filing-2","location":"MD&A / Revenue / price and new-business contributions","excerpt":"$16 million and $36 million, respectively, and continued new business growth of approximately $8 million and \n$20 million, respectively."},{"id":"e8","sourceId":"filing-1","location":"Risk Factors / proprietary dataset contractual protection","excerpt":"We depend on contractual and license agreements with third parties to protect our proprietary data sets underlying our product and solutions."},{"id":"e9","sourceId":"filing-1","location":"Risk Factors / enforceability and dataset exclusivity","excerpt":"If such agreements are not sufficiently robust or enforceable, or if counterparties fail to honor them, we would not be able to maintain the exclusivity of our data sets and the competitiveness of our products and solutions may decrease."},{"id":"e10","sourceId":"filing-1","location":"Risk Factors / AI-enabled competition","excerpt":"The emerging availability of “off-the-shelf” AI models may increase the ability of existing and new competitors to develop technology and applications which may compete with our products and solutions."},{"id":"e11","sourceId":"filing-2","location":"MD&A / Increased Competition / customer ability to switch","excerpt":"we believe in the strength and importance of our offerings, our customers have the ability to switch to our competitors or"},{"id":"e12","sourceId":"filing-2","location":"MD&A / Increased Competition / cessation of product use","excerpt":"cease using our products. Competitive factors impacting our business include market dynamics and evolving customer"},{"id":"e13","sourceId":"filing-1","location":"Business / automotiveMastermind / CRM and DMS integration","excerpt":"The platform integrates comprehensive Customer Relationship Management (“CRM”) and Dealer Management Systems (“DMS”) data to identify in-market buyers, anticipate consumer behavior, personalize outreach, and optimize private offers."},{"id":"e14","sourceId":"filing-1","location":"Business / Polk Auto Marketing Solutions / workflow integration","excerpt":"Our data integrates seamlessly with OEM workflows, matching their territories, dealer networks, and competitive segments."},{"id":"e15","sourceId":"filing-1","location":"Business / Polk Auto Marketing Solutions / daily usage","excerpt":"The data is used daily across OEMs from product planners to sales operations."},{"id":"e16","sourceId":"filing-1","location":"Business / Introduction of New Products / adoption and retention","excerpt":"On the CARFAX side, both Car Listings and CARFAX For Life saw rapid adoption and continued retention, now embedded in customer workflow."},{"id":"e17","sourceId":"filing-2","location":"MD&A / Our Business Model / subscription durations","excerpt":"•Subscription: The majority of offerings across the business are sold on monthly, annual or multi-year"},{"id":"e18","sourceId":"filing-2","location":"MD&A / Our Business Model / recurring revenue and retention assertion","excerpt":"subscriptions, providing recurring revenue and high retentions."},{"id":"e19","sourceId":"filing-2","location":"MD&A / Investing in Continued Innovation and Brand Awareness / acquisition costs","excerpt":"CARFAX specifically, the cost of acquiring new customers is rising as major advertising platforms and vendors dial up"},{"id":"e20","sourceId":"filing-2","location":"MD&A / Investing in Continued Innovation and Brand Awareness / paid-channel costs","excerpt":"their monetization, increasing the expense to reach and convert consumers via paid digital channels."},{"id":"e21","sourceId":"filing-2","location":"MD&A / B2B / revenue and subscription results","excerpt":"27\nTable of Contents\nB2B\nThe following table provides Revenue and Adjusted EBITDA information for the periods presented:\nThree Months Ended\nJune 30,\nChange\nSix Months Ended\nJune 30,\nChange\n(in millions)\n2026\n2025\n$\n%\n2026\n2025\n$\n%\nRevenue\n$156\n$150\n$6\n4%\n$313\n$295\n$18\n6%\nSubscription revenue\n$131\n$124\n7\n6%\n$261\n$242\n19\n8%\nNon-subscription revenue\n$25\n$26\n(1)\n(4)%\n$52\n$53\n(1)\n(2)%\n% of total revenue:\nSubscription revenue\n84%\n83%\n83%\n82%\nNon-subscription revenue\n16%\n17%\n17%\n18%\nU.S."},{"id":"e22","sourceId":"filing-2","location":"MD&A / B2B / adjusted EBITDA and margin results","excerpt":"revenue\n79%\n79%\n79%\n79%\nInternational revenue\n21%\n21%\n21%\n21%\nAdjusted EBITDA\n$53\n$49\n4\n8%\n$102\n$93\n9\n10%\n% Adjusted EBITDA margin\n34%\n33%\n33%\n32%\nRevenue increased $6 million in the three months ended June 30, 2026 as compared to the three months ended June"},{"id":"e23","sourceId":"filing-2","location":"Condensed Combined Statements / revenue, expenses and debt","excerpt":"CONDENSED COMBINED STATEMENTS OF OPERATIONS\n(Unaudited)\nThree Months Ended\nJune 30,\nSix Months Ended\nJune 30,\n(in millions, except per share data)\n2026\n2025\n2026\n2025\nRevenue\n$468\n$439\n$923\n$859\nExpenses:\nOperating-related expenses\n134\n132\n270\n259\nSelling and general expenses\n175\n134\n335\n265\nDepreciation\n3\n3\n7\n7\nAmortization of intangibles\nRight of use assets\n33\n16\nGoodwill\n8,845\n8,845\nOther intangible assets, net\n3,640\n3,789\nOther non-current assets\n58\n45\nTotal assets\n$13,060\n$12,995\nLIABILITIES AND EQUITY\nCurrent liabilities:\nAccounts payable\n$63\n$56\nDue to related parties – current\n—\n19\nAccrued compensation and contributions to retirement plans\n41\n64\nUnearned revenue\n102\n78\nOther current liabilities\n42\n45\nTotal current liabilities\n248\n262\nLong-term debt\n1,981\n—\nOperating lease liabilities\n27\n11\nDeferred tax liability, net\n967\n1,006\nDue to related parties – non-current\n—\n230\nOther non-current liabilities\n2\n1\nTotal liabilities\n3,225\n1,510\nCommitments and Contingencies (Note 8)\nEquity:\nParent company investment\n9,833\n11,489\nAccumulated other comprehensive income (loss)\n2\n(4)\nTotal equity\n9,835\n11,485\nTotal liabilities and equity\n$13,060\n$12,995\nSee accompanying Notes to the Condensed Combined Financial Statements\n5\nTable of Contents\nMOBILITY GLOBAL INC."},{"id":"e24","sourceId":"filing-2","location":"MD&A / financing activities / parent dividend and transfers","excerpt":"to S&P Global, primarily driven by the dividend paid to S&P Global in connection with the Restructuring Transactions."},{"id":"e25","sourceId":"filing-2","location":"MD&A / Liquidity and Capital Resources / historical operating cash generation","excerpt":"Liquidity and Capital Resources\nHistorically, we have generated cash from operating activities."},{"id":"e26","sourceId":"filing-2","location":"Controls and Procedures / management effectiveness conclusion","excerpt":"that, as of the end of such period, these disclosure controls and procedures were effective."},{"id":"e27","sourceId":"filing-2","location":"Controls and Procedures / reliance on parent controls","excerpt":"30, 2026, the Company relied on certain processes and internal controls over financial reporting performed by S&P Global."},{"id":"e28","sourceId":"filing-1","location":"Management / Board Independence / independence determination","excerpt":"Board Independence\n Our Board of Directors has determined that each of the Company’s non-employee directors have met the independence requirements of the NYSE based upon the application of objective categorical standards adopted by our Board of Directors."},{"id":"e29","sourceId":"filing-2","location":"Exhibits / Annual Incentive Plan adoption","excerpt":"Annual Incentive Plan, adopted as of June 24, 2026."},{"id":"e30","sourceId":"filing-1","location":"Incentive Plan / undetermined award recipients","excerpt":"Mobility has not yet determined the number of employees who will receive awards under the Incentive Plan."},{"id":"e31","sourceId":"filing-2","location":"Defined Terms / completed Distribution date","excerpt":"•The term “Distribution Date” refers to July 1, 2026, the date on which the Distribution occurred."},{"id":"e32","sourceId":"filing-2","location":"MD&A / standalone company expenditure expectations","excerpt":"As a result of the Separation and costs associated with running an"},{"id":"e33","sourceId":"filing-2","location":"MD&A / historical allocations and standalone expenditure expectations","excerpt":"independent, publicly traded company, we expect to incur expenditures that may vary from historical allocations, which"},{"id":"e34","sourceId":"filing-2","location":"MD&A / potential profitability and cash-flow effects","excerpt":"may have an impact on our profitability and operating cash flows."},{"id":"completion-a1bfa271cdff-e1","sourceId":"filing-1","location":"Customer contracts: subscription durations","excerpt":"Our businesses are primarily subscription revenue driven, as most offerings are sold on monthly, annual or multi-year subscriptions."},{"id":"completion-a1bfa271cdff-e2","sourceId":"filing-1","location":"Customer contracts: renewal obligation, sentence opening","excerpt":"Our customers have no obligation to renew their contracts for our"},{"id":"completion-a1bfa271cdff-e3","sourceId":"filing-1","location":"Customer contracts: renewal obligation, sentence continuation","excerpt":"products and solutions after the expiration of their contract periods and our customers may choose not to renew contracts for a similar mix of products and solutions."},{"id":"completion-a1bfa271cdff-e4","sourceId":"filing-1","location":"Named executive officer agreements: Eager incentive opportunity","excerpt":"Eager’s initial annual base salary is $650,000 and his target annual incentive opportunity is $900,000."},{"id":"completion-a1bfa271cdff-e5","sourceId":"filing-1","location":"Named executive officer agreements: incentive performance conditions","excerpt":"The actual annual incentive payment will be based upon the degree of achievement of established company and/or division objectives and Mr."},{"id":"completion-a1bfa271cdff-e6","sourceId":"filing-1","location":"Named executive officers: outstanding award termination and vesting treatment","excerpt":"(10)\n For each of the named executive officers, the treatment for their long-term incentive awards reflects the standard termination treatment provided for under their award agreements and as described in footnotes (7) through (8), except with respect to their legacy IHS Markit awards, which vest in full upon a termination due to death, disability or Retirement and are forfeited upon an involuntary termination without cause."},{"id":"completion-a1bfa271cdff-e7","sourceId":"filing-1","location":"Separation risks: continuing S&P Global equity holdings","excerpt":"Because of their current or former positions with S&P Global, following the Separation, some of our directors and executive officers will continue to own shares of S&P Global common stock or have options to acquire shares of S&P Global common stock, and the individual holdings may be significant for some of these individuals compared to their total assets."},{"id":"completion-a1bfa271cdff-e8","sourceId":"filing-1","location":"Mobility Incentive Plan: recipients undetermined","excerpt":"Mobility has not yet determined the number of employees who will receive awards under the Incentive Plan."},{"id":"completion-a1bfa271cdff-e9","sourceId":"filing-2","location":"Exhibit index: Annual Incentive Plan adoption","excerpt":"Annual Incentive Plan, adopted as of June 24, 2026."}],"changes":["Retain the previous narrow verdict, with proprietary data and CARFAX brand as the primary mechanism and workflow switching friction as secondary support.","Make pricing evidence explicit: the latest supplied filing attributes approximately $36 million of first-half 2026 revenue growth to price increases and $20 million to new business.","Recognize that the July 1, 2026 separation occurred, while the supplied operating results through June 30 still precede standalone operations."],"limitations":["Assessment uses only the supplied passages from filings dated May 27 and August 7, 2026; both dates have dateKind filed. No later operating evidence is supplied.","No competing company is named as a competitor in the supplied passages. Competitor arrays are empty, and relative product quality, pricing and market shares cannot be compared.","Customer coverage, data scale, brand strength and retention descriptions are issuer disclosures, often based on internal data. Reported pricing and operating results provide corroboration but do not establish exceptional durability.","A contributor network is not sufficient evidence of network effects: incremental customer value from additional participants is not demonstrated. Cost advantage and efficient scale are also unestablished.","No quantified renewal cohorts, migration costs, pricing restrictions or customer contract termination provisions are supplied.","Management ownership, realized executive equity exposure and detailed incentive performance conditions are missing. Annual Incentive Plan adoption does not establish award grants, vesting or shareholder alignment.","Some supplied excerpts are fragmented. Claims are limited to the information present, and prospective separation and compensation disclosures are not treated as completed outcomes."],"qualityAssessments":[{"category":"moat","checks":[{"criterion":"structural_advantage","grade":3,"rationale":"Accumulated data, substantial disclosed OEM and dealer penetration, and realized subscription price increases jointly support a differentiated current franchise. Claims of unrivaled quality remain issuer assertions.","evidenceIds":["e1","e2","e4","e5","e6","e7"]},{"criterion":"durability","grade":2,"rationale":"Long data history and daily workflow use support persistence, but contractual data access and unquantified switching friction limit confidence in long-term protection.","evidenceIds":["e1","e8","e9","e14","e15"]},{"criterion":"customer_dependency","grade":2,"rationale":"Dealer-system integration, daily OEM usage and reported product retention indicate reliance. Dependency is assessed indirectly; customers can switch or cease use, and replacement costs are undisclosed.","evidenceIds":["e11","e12","e13","e15","e16"]},{"criterion":"erosion_resilience","grade":2,"rationale":"Realized price increases and new business show current commercial resilience despite rising acquisition costs. Data-rights and AI competition risks remain prospective rather than demonstrated erosion.","evidenceIds":["e6","e7","e9","e10","e19","e20"]}]},{"category":"pricing_power","checks":[{"criterion":"realized_pricing","grade":3,"rationale":"The filing attributes approximately $16 million of quarterly and $36 million of first-half revenue growth to price increases, alongside positive new-business contributions. This demonstrates realized pricing, although customer-level price and volume responses are unavailable.","evidenceIds":["e6","e7"]},{"criterion":"retention","grade":2,"rationale":"Daily workflow use, reported continued product retention and subscription growth support repeat demand indirectly. No retention rate is inferred, and growth does not isolate renewals from pricing or customer acquisition.","evidenceIds":["e15","e16","e18","e21"]},{"criterion":"margin_resilience","grade":2,"rationale":"B2B adjusted EBITDA margin improved to 34% quarterly and 33% for the half-year, from 33% and 32%. Company selling expenses rose substantially and acquisition costs increased; standalone expenses remain untested. Segment resilience therefore supports a mixed assessment.","evidenceIds":["e19","e20","e22","e23","e32","e33","e34"]},{"criterion":"contractual_freedom","grade":2,"rationale":"Mixed contractual position: monthly, annual and multi-year subscriptions establish defined commitment periods, while customers have no obligation to renew and can change their product mix at expiry. These are disclosed limits on securing continuing terms. Unilateral repricing rights, price caps and early termination provisions remain undisclosed, preventing a strong assessment of pricing discretion.","evidenceIds":["completion-a1bfa271cdff-e1","completion-a1bfa271cdff-e2","completion-a1bfa271cdff-e3"]}]},{"category":"strong_management","checks":[{"criterion":"capital_discipline","grade":2,"rationale":"Historical operating cash generation is positive evidence, while approximately $1.98 billion of recorded debt and financing associated with a parent dividend create material commitments. Parent-directed separation financing and missing investment-return evidence limit attribution to standalone management.","evidenceIds":["e23","e24","e25"]},{"criterion":"incentive_alignment","grade":2,"rationale":"Mixed evidence: Eager's disclosed agreement includes a target annual incentive tied to company or division objectives, and actual named executive officer award agreements include vesting and forfeiture conditions. However, continuing S&P Global holdings create potential competing incentives. Mobility equity recipients were undetermined in May; the subsequently adopted June 24 Annual Incentive Plan establishes adoption only. Mobility ownership, actual grants and the new plan's performance and vesting conditions remain unestablished.","evidenceIds":["completion-a1bfa271cdff-e4","completion-a1bfa271cdff-e5","completion-a1bfa271cdff-e6","completion-a1bfa271cdff-e7","completion-a1bfa271cdff-e8","completion-a1bfa271cdff-e9"]},{"criterion":"execution","grade":3,"rationale":"Realized price increases, positive new-business contributions, B2B subscription growth and improved segment profitability demonstrate execution. Assessment relies on operating outcomes rather than management reputation; standalone execution remains untested.","evidenceIds":["e6","e7","e21","e22","e31"]},{"criterion":"governance","grade":2,"rationale":"The board disclosed an independence determination and management concluded disclosure controls were effective. Reliance on parent controls limits evidence of autonomous governance; the passages do not demonstrate exceptional oversight.","evidenceIds":["e26","e27","e28"]}]}],"financialAssessments":[],"qualityPolicy":"quality-scores-2","sourcePolicy":"issuer-evidence-7","basisHash":"b934ea9d788890cb6e93a9b0ff5053364b312e6ce50bf1ec7dce44be363c6b1a","updatedAt":"2026-10-19T15:38:21.704Z","sources":[{"id":"filing-1","url":"https://www.sec.gov/Archives/edgar/data/2090312/000110465926066592/tm2528763d9_ex99-1.htm","publishedAt":"2026-05-27","sha256":"4adfab7c4b13bf1d714d2c51e76a34dddab2cc1be6445097ff4fe71828eeb36c","citationPolicy":"numeric-lines-1","dateKind":"filed"},{"id":"filing-2","url":"https://www.sec.gov/Archives/edgar/data/2090312/000209031226000014/mbgl-20260630.htm","publishedAt":"2026-08-07","sha256":"77db4f7c9a7ece88c84d9b7ebbd3d5ef4206ecb2e3e95e59c8b1cba3c28d4352","citationPolicy":"numeric-lines-1","dateKind":"filed"},{"id":"filing-3","url":"https://www.sec.gov/Archives/edgar/data/2090312/000209031226000013/mbgl-20260807xexx991mobili.htm","publishedAt":"2026-08-07","sha256":"1e8bbbf89868c13b354f8717e42c2aa4dd4a0e03f5a13238a191e6310619112d","citationPolicy":"numeric-lines-1","dateKind":"filed"},{"id":"filing-4","url":"https://www.sec.gov/Archives/edgar/data/2090312/000209031226000013/exhibit992.htm","publishedAt":"2026-08-07","sha256":"5d16c54d45a3149759a126a440887b8344c002b98850cccfcfcfb3784203e59e","citationPolicy":"numeric-lines-1","dateKind":"filed"}],"model":"gpt-6.1-sol","providerId":"codex:14eaf1b98b7b8063c7aba2c23563605857368ea1d26e24f044bf73f47bc7cd73","usage":{"input_tokens":49670,"cached_input_tokens":0,"cache_write_input_tokens":0,"output_tokens":758,"reasoning_output_tokens":193},"assessmentCompletion":{"policy":"missing-assessments-1","priorProviderId":"codex:031fbb7a2779f3cb1883df332de3ee785f9400517e02abdf7a2bf66fe33afca4","priorResearchAt":"2026-10-19T10:31:51.161Z","criteria":["pricing_power:contractual_freedom","strong_management:incentive_alignment"],"completedAt":"2026-10-19T15:38:21.704Z"},"basisSupplement":{"previousHash":"f9a15649ef9f462a41a7221955d8475fadd525fcf1db1cb42fe9e3a3ec7d7423","checkedAt":"2026-10-19T16:53:05.174Z","rule":"dated historical and missing inputs only; accepted observations and research date retained"}},"signals":[{"period":"2023","end":"2023-12-31","values":{"gross_margin":null,"operating_margin":16.094276094276093,"roic":null,"fcf_margin":null,"sbc_revenue":1.3468013468013467},"issues":{"pe":"A validated closing price in the reporting currency is unavailable for this period.","peg":"A validated closing price in the reporting currency is unavailable for this period.","ps":"A validated closing price in the reporting currency is unavailable for this period.","pfcf":"A validated closing price in the reporting currency is unavailable for this period.","pfcf_growth":"A validated closing price in the reporting currency is unavailable for this period.","pocf":"A validated closing price in the reporting currency is unavailable for this period.","pb":"A validated closing price in the reporting currency is unavailable for this period.","fcf_yield":"A validated closing price in the reporting currency is unavailable for this period.","earnings_yield":"A validated closing price in the reporting currency is unavailable for this period.","ev_sales":"A validated closing price in the reporting currency is unavailable for this period.","ev_ebitda":"A validated closing price in the reporting currency is unavailable for this period.","capex":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","eps":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","gross_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","capex_intensity":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"The matching period one year earlier is unavailable.","roce":"The matching period one year earlier is unavailable.","roiic":"The matching period one year earlier is unavailable.","roe":"The matching period one year earlier is unavailable.","roa":"The matching period one year earlier is unavailable.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","cash":"Cash and cash equivalents is unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","current_ratio":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","diluted_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","basic_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","dilution":"The matching period one year earlier is unavailable.","buybacks":"The reported inputs required for this metric are unavailable in the extracted statements for this period."}},{"period":"2024","end":"2024-12-31","values":{"gross_margin":null,"operating_margin":18.474891506509607,"roic":null,"fcf_margin":null,"sbc_revenue":1.735895846249225},"issues":{"pe":"A validated closing price in the reporting currency is unavailable for this period.","peg":"A validated closing price in the reporting currency is unavailable for this period.","ps":"A validated closing price in the reporting currency is unavailable for this period.","pfcf":"A validated closing price in the reporting currency is unavailable for this period.","pfcf_growth":"A validated closing price in the reporting currency is unavailable for this period.","pocf":"A validated closing price in the reporting currency is unavailable for this period.","pb":"A validated closing price in the reporting currency is unavailable for this period.","fcf_yield":"A validated closing price in the reporting currency is unavailable for this period.","earnings_yield":"A validated closing price in the reporting currency is unavailable for this period.","ev_sales":"A validated closing price in the reporting currency is unavailable for this period.","ev_ebitda":"A validated closing price in the reporting currency is unavailable for this period.","capex":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","eps":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","gross_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf_margin":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","capex_intensity":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roce":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roiic":"Reported borrowing balances are unavailable in the extracted statements for this period.","roe":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roa":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","roic_wacc":"Enter a WACC assumption from 0 to 100%.","debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_equity":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_assets":"Reported borrowing balances are unavailable in the extracted statements for this period.","net_debt_ebitda":"Reported borrowing balances are unavailable in the extracted statements for this period.","debt_fcf":"Reported borrowing balances are unavailable in the extracted statements for this period.","interest_coverage":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","diluted_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","basic_shares":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","dilution":"The reported inputs required for this metric are unavailable in the extracted statements for this 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the reporting currency is unavailable for this period.","earnings_yield":"A validated closing price in the reporting currency is unavailable for this period.","ev_sales":"A validated closing price in the reporting currency is unavailable for this period.","ev_ebitda":"A validated closing price in the reporting currency is unavailable for this period.","capex":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","software_capex":"Separately disclosed software and intangible investment is unavailable in the extracted statements for this period.","sbc_fcf":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","eps":"The reported inputs required for this metric are unavailable in the extracted statements for this period.","gross_margin":"The reported inputs required for 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