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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B | $2.9B | $2.9B | $3.0B | $3.2B | $3.1B | $3.2B | $3.2B |
| YoY | — | — | — | — | -0.6% | +5.8% | +8.8% | +4.6% |
| Cost of goods sold | $2.1B | $2.0B | $2.1B | $2.0B | $2.1B | $2.1B | $2.2B | $2.1B |
| YoY | — | — | — | — | +2.0% | +4.5% | +6.4% | +4.2% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $22.1M | $22.0M | $22.9M | $24.1M | $27.3M | $20.4M | $21.6M | $21.5M |
| YoY | — | — | — | — | +23.5% | -7.3% | -5.7% | -10.8% |
| Selling, general & administrative | $228.0M | $242.4M | $222.0M | $222.6M | $219.1M | $228.7M | $227.2M | $219.1M |
| YoY | — | — | — | — | -3.9% | -5.7% | +2.3% | -1.6% |
| Operating income | $2.4B | $643.6M | $-2.3B | $790.6M | $16.8M | $734.5M | $752.7M | $-2.1B |
| YoY | — | — | — | — | -99.3% | +14.1% | +132.3% | -365.3% |
| Pretax income | $2.5B | $790.5M | $-2.2B | $890.8M | $121.3M | $850.8M | $883.5M | $-1.9B |
| YoY | — | — | — | — | -95.2% | +7.6% | +139.4% | -317.5% |
| Income tax | $538.4M | $140.7M | $-505.8M | $159.6M | $111.2M | $159.4M | $158.7M | $-515.4M |
| YoY | — | — | — | — | -79.3% | +13.3% | +131.4% | -422.9% |
| Net income | $1.9B | $617.4M | $-1.7B | $713.8M | $4.9M | $678.2M | $710.4M | $-1.4B |
| YoY | — | — | — | — | -99.7% | +9.8% | +141.0% | -301.8% |
| EPS — basic | — | $2.77 | $-7.77 | $3.20 | — | $3.04 | $3.19 | $-6.47 |
| YoY | — | — | — | — | — | +9.7% | +141.1% | -302.2% |
| EPS — diluted | — | $2.77 | $-7.77 | $3.20 | — | $3.04 | $3.19 | $-6.47 |
| YoY | — | — | — | — | — | +9.7% | +141.1% | -302.2% |
| Weighted shares — basic | — | 222.7M | 222.8M | 222.8M | — | 222.8M | 222.8M | 222.8M |
| Weighted shares — diluted | — | 222.9M | 222.8M | 222.9M | — | 222.9M | 222.9M | 222.8M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $3.0B | $1.8B | $1.5B | $2.3B | $1.9B | $1.0B | $951.0M | $980.5M |
| YoY | — | — | — | — | -37.7% | -44.4% | -36.2% | -57.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.8B | $1.8B | $1.8B | $1.9B | $1.9B | $1.9B | $1.9B | $1.9B |
| YoY | — | — | — | — | +4.4% | +4.8% | +5.0% | -3.2% |
| Inventory | $766.0M | $739.0M | $769.7M | $797.7M | $776.5M | $788.1M | $767.9M | $751.6M |
| YoY | — | — | — | — | +1.4% | +6.6% | -0.2% | -5.8% |
| Total current assets | $6.4B | $5.4B | $5.2B | $6.1B | $5.8B | $5.1B | $5.0B | $5.0B |
| YoY | — | — | — | — | -8.4% | -4.6% | -3.4% | -19.3% |
| Total assets | $39.6B | $40.0B | $38.9B | $41.7B | $41.1B | $41.2B | $41.6B | $40.4B |
| YoY | — | — | — | — | +3.8% | +3.1% | +7.1% | -2.9% |
| Total current liabilities | $4.2B | $4.8B | $5.2B | $4.8B | $4.2B | $3.5B | $3.5B | $4.6B |
| YoY | — | — | — | — | +0.9% | -27.3% | -32.6% | -3.9% |
| Total liabilities | $20.9B | $21.3B | $22.1B | $23.9B | $23.7B | $23.4B | $23.5B | $23.8B |
| YoY | — | — | — | — | +13.4% | +10.0% | +6.3% | -0.2% |
| Total equity | $17.0B | $16.7B | $14.7B | $15.5B | $15.0B | $15.4B | $15.6B | $13.9B |
| YoY | — | — | — | — | -11.8% | -7.7% | +6.4% | -10.6% |
| Shares outstanding | 222.4M | — | — | — | 222.6M | — | — | — |
| YoY | — | — | — | — | +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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | $811.7M | $328.1M | $855.8M | — | $900.7M | $1.1B | $1.3B |
| YoY | — | — | — | — | — | +11.0% | +236.4% | +52.5% |
| Capital expenditures | $2.1B | $2.1B | $1.9B | $1.5B | $1.5B | $1.3B | $1.1B | $995.7M |
| YoY | — | — | — | — | -26.9% | -40.9% | -41.4% | -33.4% |
| Free cash flow | — | $-1.3B | $-1.6B | $-640.0M | — | $-350.5M | $-3.9M | $309.5M |
| YoY | — | — | — | — | — | +73.2% | +99.8% | +148.4% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 76.1% | 22.0% | -79.8% | 26.2% | 0.5% | 23.7% | 23.7% | -66.3% |
| Net margin | 61.2% | 21.1% | -59.3% | 23.6% | 0.2% | 21.9% | 22.4% | -45.6% |
| Free cash flow margin | — | -44.5% | -53.6% | -21.2% | — | -11.3% | -0.1% | 9.8% |
| Effective tax rate | 21.5% | 17.8% | 22.5% | 17.9% | 91.7% | 18.7% | 18.0% | 26.6% |
| Current ratio | 1.52x | 1.11x | 1.00x | 1.29x | 1.38x | 1.46x | 1.43x | 1.08x |
| Total liabilities / equity | 1.23x | 1.27x | 1.50x | 1.54x | 1.58x | 1.52x | 1.50x | 1.72x |
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.