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 | $10.3B | $12.7B | $12.6B | $12.1B | $12.0B |
| YoY | — | +23.0% | -0.8% | -4.0% | -0.5% |
| Cost of goods sold | $7.2B | $9.3B | $8.8B | $8.2B | $8.3B |
| YoY | — | +30.0% | -5.4% | -7.5% | +1.1% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $93.5M | $102.9M | $105.6M | $100.2M | $96.3M |
| YoY | — | +10.1% | +2.6% | -5.1% | -3.9% |
| Selling, general & administrative | $828.4M | $900.6M | $957.0M | $942.4M | $906.1M |
| YoY | — | +8.7% | +6.3% | -1.5% | -3.9% |
| Operating income | $2.3B | $2.3B | $2.5B | $4.5B | $-877.0M |
| YoY | — | +2.5% | +6.7% | +79.0% | -119.6% |
| Pretax income | $2.5B | $2.8B | $2.9B | $4.8B | $-440.7M |
| YoY | — | +9.9% | +4.6% | +67.3% | -109.1% |
| Income tax | $462.8M | $500.8M | $551.2M | $944.9M | $-94.3M |
| YoY | — | +8.2% | +10.1% | +71.4% | -110.0% |
| Net income | $2.1B | $2.3B | $2.3B | $3.8B | $-394.5M |
| YoY | — | +7.5% | +2.0% | +66.4% | -110.3% |
| EPS — basic | $9.47 | $10.16 | $10.35 | $17.21 | $-1.77 |
| YoY | — | +7.3% | +1.9% | +66.3% | -110.3% |
| EPS — diluted | $9.43 | $10.14 | $10.33 | $17.18 | $-1.77 |
| YoY | — | +7.5% | +1.9% | +66.3% | -110.3% |
| Weighted shares — basic | 221.6M | 222.0M | 222.3M | 222.5M | 222.7M |
| Weighted shares — diluted | 222.5M | 222.5M | 222.7M | 222.8M | 222.7M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $4.5B | $2.7B | $1.6B | $3.0B | $1.9B |
| YoY | — | -39.3% | -40.4% | +84.3% | -37.7% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.5B | $1.8B | $1.7B | $1.8B | $1.9B |
| YoY | — | +23.6% | -5.2% | +7.1% | +4.4% |
| Inventory | $453.9M | $514.2M | $651.8M | $766.0M | $776.5M |
| YoY | — | +13.3% | +26.8% | +17.5% | +1.4% |
| Total current assets | $8.4B | $6.3B | $5.2B | $6.4B | $5.8B |
| YoY | — | -25.0% | -17.2% | +22.4% | -8.4% |
| Total assets | $26.9B | $27.2B | $32.0B | $39.6B | $41.1B |
| YoY | — | +1.2% | +17.7% | +23.7% | +3.8% |
| Total current liabilities | $2.8B | $3.5B | $3.9B | $4.2B | $4.2B |
| YoY | — | +23.8% | +12.4% | +7.3% | +0.9% |
| Total liabilities | $12.8B | $13.5B | $16.3B | $20.9B | $23.7B |
| YoY | — | +5.6% | +21.1% | +27.9% | +13.4% |
| Total equity | $13.5B | $13.1B | $14.3B | $17.0B | $15.0B |
| YoY | — | -2.9% | +8.9% | +19.0% | -11.8% |
| Shares outstanding | 221.4M | 221.8M | 222.2M | 222.4M | 222.6M |
| YoY | — | +0.2% | +0.2% | +0.1% | +0.1% |
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 | $3.3B | $3.2B | $3.2B | $3.6B | $3.3B |
| YoY | — | -4.9% | +1.1% | +13.8% | -10.7% |
| Capital expenditures | $2.5B | $2.9B | $4.6B | $6.8B | $7.0B |
| YoY | — | +18.8% | +58.1% | +46.9% | +3.3% |
| Free cash flow | $871.0M | $244.1M | $-1.4B | $-3.1B | $-3.8B |
| YoY | — | -72.0% | -682.0% | -121.7% | -19.5% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 22.1% | 18.4% | 19.8% | 36.9% | -7.3% |
| Net margin | 20.3% | 17.8% | 18.3% | 31.6% | -3.3% |
| Free cash flow margin | 8.4% | 1.9% | -11.3% | -26.0% | -31.3% |
| Effective tax rate | 18.5% | 18.2% | 19.1% | 19.6% | 21.4% |
| Current ratio | 2.99x | 1.81x | 1.33x | 1.52x | 1.38x |
| Total liabilities / equity | 0.94x | 1.03x | 1.14x | 1.23x | 1.58x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| APD FY25 · this stock | $12.0B | -0.5% | — | -7.3% | -3.3% | -31.3% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| STLD FY25 | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
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.