Revenue vs Net income
Reported dollars from 10-Q / 10-K filings. Q4 bars are derived (annual less nine months) where the 10-K does not tag Q4 separately.
Margin trend
Gross, operating and net margin. Margins are derived from reported dollars.
Revenue YoY growth
Year-over-year change vs the same quarter (or fiscal year) a year earlier. Shown where the prior-year period is in the 8-quarter snapshot (latest four quarters).
Income statement
From 10-Q / 10-K XBRL. Values in reported dollars; EPS in $/share; share counts in shares.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $10.4B | $10.6B | $11.0B | $10.4B | $11.1B | $11.4B | $11.5B | $11.2B |
| YoY | — | — | — | — | +7.4% | +6.9% | +4.4% | +7.8% |
| Cost of goods sold | $4.6B | $4.7B | $4.9B | $4.5B | $4.9B | $5.1B | $4.9B | $4.9B |
| YoY | — | — | — | — | +5.5% | +8.0% | -0.4% | +9.4% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $698.0M | $713.0M | $749.0M | $716.0M | $725.0M | $766.0M | $735.0M | $767.0M |
| YoY | — | — | — | — | +3.9% | +7.4% | -1.9% | +7.1% |
| Selling, general & administrative | $2.9B | $2.9B | $2.9B | $3.1B | $3.1B | $3.1B | $3.1B | $3.7B |
| YoY | — | — | — | — | +5.3% | +5.4% | +7.6% | +22.2% |
| Operating income | $1.7B | $1.9B | $1.9B | $1.7B | $2.1B | $2.1B | $2.3B | $1.3B |
| YoY | — | — | — | — | +22.9% | +10.7% | +17.8% | -20.6% |
| Pretax income | $1.6B | $1.9B | $2.0B | $1.8B | $2.1B | $2.2B | $2.4B | $1.4B |
| YoY | — | — | — | — | +33.8% | +12.4% | +16.2% | -18.5% |
| Income tax | $305.0M | $294.0M | $-7.2B | $453.0M | $371.0M | $536.0M | $582.0M | $372.0M |
| YoY | — | — | — | — | +21.6% | +82.3% | +108.1% | -17.9% |
| Net income | $1.3B | $1.6B | $9.2B | $1.3B | $1.8B | $1.6B | $1.8B | $1.1B |
| YoY | — | — | — | — | +36.6% | -0.1% | -80.8% | -18.7% |
| EPS — basic | $0.74 | $0.94 | — | $0.76 | $1.02 | $0.94 | — | $0.62 |
| YoY | — | — | — | — | +37.8% | +0.0% | — | -18.4% |
| EPS — diluted | $0.74 | $0.94 | — | $0.76 | $1.01 | $0.94 | — | $0.61 |
| YoY | — | — | — | — | +36.5% | +0.0% | — | -19.7% |
| Weighted shares — basic | 1.74B | 1.74B | — | 1.74B | 1.74B | 1.74B | — | 1.74B |
| Weighted shares — diluted | 1.75B | 1.75B | — | 1.75B | 1.75B | 1.75B | — | 1.75B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $7.0B | $7.6B | $7.6B | $6.5B | $7.0B | $7.5B | $8.5B | $6.8B |
| YoY | — | — | — | — | -0.5% | -0.6% | +11.9% | +4.1% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $6.9B | $7.1B | $6.9B | $7.3B | $8.0B | $8.1B | $7.9B | $8.2B |
| YoY | — | — | — | — | +16.3% | +15.4% | +14.5% | +12.1% |
| Inventory | $6.8B | $6.8B | $6.2B | $6.6B | $7.0B | $6.7B | $6.5B | $7.0B |
| YoY | — | — | — | — | +2.1% | -1.5% | +4.7% | +5.3% |
| Total current assets | $23.1B | $23.8B | $23.7B | $23.2B | $24.5B | $24.8B | $26.0B | $25.5B |
| YoY | — | — | — | — | +5.8% | +4.4% | +9.9% | +10.2% |
| Total assets | $73.0B | $74.4B | $81.4B | $81.4B | $84.0B | $84.2B | $86.7B | $110.4B |
| YoY | — | — | — | — | +15.0% | +13.2% | +6.5% | +35.6% |
| Total current liabilities | $13.8B | $14.9B | $14.2B | $13.0B | $13.4B | $14.6B | $16.5B | $18.4B |
| YoY | — | — | — | — | -2.3% | -2.1% | +16.5% | +41.3% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $39.3B | $39.8B | $47.7B | $48.8B | $50.6B | $51.0B | $52.1B | $52.1B |
| YoY | — | — | — | — | +28.6% | +28.0% | +9.4% | +6.7% |
| Shares outstanding | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.0B | $2.7B | $2.9B | $1.4B | $2.0B | $2.8B | $3.3B | $1.3B |
| YoY | — | — | — | — | +4.4% | +3.0% | +15.6% | -7.2% |
| Capital expenditures | $533.0M | $556.0M | $720.0M | $484.0M | $502.0M | $496.0M | $689.0M | $399.0M |
| YoY | — | — | — | — | -5.8% | -10.8% | -4.3% | -17.6% |
| Free cash flow | $1.4B | $2.1B | $2.1B | $933.0M | $1.5B | $2.3B | $2.6B | $916.0M |
| YoY | — | — | — | — | +8.3% | +6.6% | +22.3% | -1.8% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $3.0M | $751.0M | $315.0M | $280.0M | $6.0M | $305.0M | $302.0M | $180.0M |
| YoY | — | — | — | — | +100.0% | -59.4% | -4.1% | -35.7% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 16.1% | 17.5% | 17.4% | 16.3% | 18.4% | 18.1% | 19.6% | 12.0% |
| Net margin | 12.5% | 15.5% | 84.1% | 12.8% | 16.0% | 14.5% | 15.5% | 9.6% |
| Free cash flow margin | 13.8% | 20.2% | 19.6% | 9.0% | 13.9% | 20.2% | 22.9% | 8.2% |
| Effective tax rate | 19.0% | 15.2% | -354.6% | 25.5% | 17.3% | 24.6% | 24.7% | 25.7% |
| Current ratio | 1.68x | 1.60x | 1.67x | 1.78x | 1.82x | 1.70x | 1.58x | 1.39x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| ABT FY25 · this stock | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
Source: SEC EDGAR XBRL company facts (10-Q / 10-K), snapshot generated 2026-11-03 for 218 tickers. Q4 values are derived as the 10-K annual less the first nine months, since Q4 is not separately tagged in company facts; cash-flow quarterly values are derived from year-to-date filings the same way. Free cash flow = operating cash flow − capital expenditures. Blank cells mean the filing does not report that line item under a standard US-GAAP tag — nothing is estimated or filled in. Descriptive research, not investment advice. How EarnIQ builds fundamentals.