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.
| FY16 | FY17 | FY18 | FY19 | FY20 | |
|---|---|---|---|---|---|
| Revenue | $5.8B | $6.7B | $7.4B | $7.6B | $8.0B |
| YoY | — | +15.2% | +11.6% | +1.9% | +6.1% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $543.4M | $637.0M | $733.2M | $730.4M | $778.7M |
| YoY | — | +17.2% | +15.1% | -0.4% | +6.6% |
| Operating income | $1.9B | $2.0B | $1.9B | $2.7B | $2.9B |
| YoY | — | +7.8% | -4.7% | +41.1% | +7.4% |
| Pretax income | — | — | — | $1.9B | $1.8B |
| YoY | — | — | — | — | -5.0% |
| Income tax | $155.5M | $30.7M | $-110.1M | $-200K | $129.6M |
| YoY | — | -80.3% | -458.6% | +99.8% | +64900.0% |
| Net income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| EPS — basic | $2.00 | $2.69 | $2.79 | $4.27 | $3.81 |
| YoY | — | +34.5% | +3.7% | +53.0% | -10.8% |
| EPS — diluted | $1.98 | $2.67 | $2.77 | $4.24 | $3.79 |
| YoY | — | +34.8% | +3.7% | +53.1% | -10.6% |
| Weighted shares — basic | 425.1M | 428.2M | 439.6M | 442.3M | 443.6M |
| Weighted shares — diluted | 429.3M | 431.7M | 443.0M | 445.5M | 446.1M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY16 | FY17 | FY18 | FY19 | FY20 | |
|---|---|---|---|---|---|
| Cash & equivalents | $787.2M | $802.1M | $1.2B | $1.5B | $1.7B |
| YoY | — | +1.9% | +50.7% | +24.2% | +16.3% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $308.4M | $513.6M | $459.0M | $462.2M | $511.6M |
| YoY | — | +66.5% | -10.6% | +0.7% | +10.7% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $1.7B | $2.0B | $2.4B | $2.6B | $2.9B |
| YoY | — | +20.6% | +17.0% | +7.1% | +13.8% |
| Total assets | $30.9B | $33.2B | $33.0B | $42.8B | $47.2B |
| YoY | — | +7.6% | -0.6% | +29.7% | +10.4% |
| Total current liabilities | $1.6B | $2.5B | $4.7B | $5.5B | $3.7B |
| YoY | — | +54.0% | +86.7% | +17.0% | -33.4% |
| Total liabilities | $22.8B | $25.3B | $26.1B | $36.2B | $42.5B |
| YoY | — | +10.7% | +3.3% | +38.7% | +17.2% |
| Total equity | $6.8B | $6.2B | $5.3B | $5.1B | $4.1B |
| YoY | — | -7.7% | -14.5% | -5.3% | -19.0% |
| Shares outstanding | 427.1M | 428.8M | 441.1M | 442.9M | 444.3M |
| YoY | — | +0.4% | +2.9% | +0.4% | +0.3% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY16 | FY17 | FY18 | FY19 | FY20 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.7B | $2.9B | $3.7B | $3.8B | $3.9B |
| YoY | — | +8.3% | +28.1% | +0.1% | +3.4% |
| Capital expenditures | $682.5M | $803.6M | $913.2M | $991.3M | $1.0B |
| YoY | — | +17.7% | +13.6% | +8.6% | +4.1% |
| Free cash flow | $2.0B | $2.1B | $2.8B | $2.8B | $2.8B |
| YoY | — | +5.1% | +33.6% | -2.6% | +3.2% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $0 | $766.3M | $232.8M | $19.6M | $56.0M |
| YoY | — | — | -69.6% | -91.6% | +185.7% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY16 | FY17 | FY18 | FY19 | FY20 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 32.0% | 30.0% | 25.6% | 35.5% | 35.9% |
| Net margin | — | — | — | — | — |
| Free cash flow margin | 34.9% | 31.8% | 38.1% | 36.4% | 35.4% |
| Effective tax rate | — | — | — | -0.0% | 7.1% |
| Current ratio | 1.04x | 0.81x | 0.51x | 0.47x | 0.79x |
| Total liabilities / equity | 3.37x | 4.05x | 4.89x | 7.16x | 10.37x |
Peer comparison — latest full year
Same sector (Real Estate), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| AMT FY20 · this stock | $8.0B | +6.1% | — | 35.9% | — | 35.4% |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| EQIX FY25 | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| SPG FY25 | $6.4B | +6.7% | — | 49.9% | — | — |
| DLR FY25 | $6.1B | +10.0% | — | 10.8% | 21.4% | — |
| O FY25 | $5.7B | +9.1% | — | — | 18.4% | — |
| PSA FY25 | $4.8B | +2.7% | — | — | 37.0% | — |
| CCI FY25 | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
| SBAC FY25 | $2.8B | +5.1% | 75.5% | 47.7% | 37.4% | 37.9% |
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.