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.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $43.1B | $43.7B | $40.1B | $42.0B | $44.3B |
| YoY | — | +1.3% | -8.1% | +4.6% | +5.7% |
| Cost of goods sold | $18.5B | $19.1B | $18.0B | $18.7B | $19.3B |
| YoY | — | +3.3% | -6.1% | +4.1% | +3.3% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $2.7B | $2.9B | $2.7B | $2.8B | $2.9B |
| YoY | — | +5.3% | -5.1% | +3.8% | +3.4% |
| Selling, general & administrative | $11.3B | $11.2B | $10.9B | $11.7B | $12.3B |
| YoY | — | -0.7% | -2.7% | +6.8% | +5.4% |
| Operating income | $8.4B | $8.4B | $6.5B | $6.8B | $8.1B |
| YoY | — | -0.7% | -22.5% | +5.4% | +18.0% |
| Pretax income | $8.2B | $8.3B | $6.7B | $7.0B | $8.5B |
| YoY | — | +1.2% | -19.8% | +5.2% | +20.7% |
| Income tax | $1.1B | $1.4B | $941.0M | $-6.4B | $1.9B |
| YoY | — | +20.4% | -31.5% | -779.0% | +130.4% |
| Net income | $7.1B | $6.9B | $5.7B | $13.4B | $6.5B |
| YoY | — | -2.0% | -17.5% | +134.2% | -51.3% |
| EPS — basic | $3.97 | $3.94 | $3.28 | $7.67 | $3.73 |
| YoY | — | -0.8% | -16.8% | +133.8% | -51.4% |
| EPS — diluted | $3.94 | $3.91 | $3.26 | $7.64 | $3.72 |
| YoY | — | -0.8% | -16.6% | +134.4% | -51.3% |
| Weighted shares — basic | 1.77B | 1.75B | 1.74B | 1.74B | 1.74B |
| Weighted shares — diluted | 1.79B | 1.76B | 1.75B | 1.75B | 1.75B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $9.8B | $9.9B | $6.9B | $7.6B | $8.5B |
| YoY | — | +0.8% | -30.2% | +10.4% | +11.9% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $6.5B | $6.2B | $6.6B | $6.9B | $7.9B |
| YoY | — | -4.1% | +5.6% | +5.5% | +14.5% |
| Inventory | $5.2B | $6.2B | $6.6B | $6.2B | $6.5B |
| YoY | — | +19.7% | +6.4% | -5.7% | +4.7% |
| Total current assets | $24.2B | $25.2B | $22.7B | $23.7B | $26.0B |
| YoY | — | +4.1% | -10.1% | +4.3% | +9.9% |
| Total assets | $75.2B | $74.4B | $73.2B | $81.4B | $86.7B |
| YoY | — | -1.0% | -1.6% | +11.2% | +6.5% |
| Total current liabilities | $13.1B | $15.5B | $13.8B | $14.2B | $16.5B |
| YoY | — | +18.2% | -10.6% | +2.3% | +16.5% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $35.8B | $36.7B | $38.6B | $47.7B | $52.1B |
| YoY | — | +2.5% | +5.2% | +23.5% | +9.4% |
| 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.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $10.5B | $9.6B | $7.3B | $8.6B | $9.6B |
| YoY | — | -9.0% | -24.2% | +17.9% | +11.8% |
| Capital expenditures | $1.9B | $1.8B | $2.2B | $2.2B | $2.2B |
| YoY | — | -5.7% | +23.9% | +0.2% | -1.6% |
| Free cash flow | $8.6B | $7.8B | $5.1B | $6.4B | $7.4B |
| YoY | — | -9.8% | -35.2% | +25.5% | +16.4% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $2.3B | $3.8B | $1.2B | $1.3B | $893.0M |
| YoY | — | +65.1% | -67.7% | +5.5% | -31.0% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 19.6% | 19.2% | 16.2% | 16.3% | 18.2% |
| Net margin | 16.4% | 15.9% | 14.3% | 31.9% | 14.7% |
| Free cash flow margin | 20.1% | 17.9% | 12.6% | 15.1% | 16.7% |
| Effective tax rate | 13.9% | 16.5% | 14.1% | -91.1% | 22.9% |
| Current ratio | 1.85x | 1.63x | 1.64x | 1.67x | 1.58x |
| 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.