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.
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 | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Net income | $571.2M | $521.7M | $103.6M | $322.9M | $-1.4B |
| YoY | — | -8.7% | -80.1% | +211.7% | -542.7% |
| EPS — basic | $3.83 | $3.18 | $0.54 | $1.80 | $-8.44 |
| YoY | — | -17.0% | -83.0% | +233.3% | -568.9% |
| EPS — diluted | $3.82 | $3.18 | $0.54 | $1.80 | $-8.44 |
| YoY | — | -16.8% | -83.0% | +233.3% | -568.9% |
| Weighted shares — basic | 146.9M | 161.7M | 170.9M | 172.1M | 170.3M |
| Weighted shares — diluted | 147.5M | 161.7M | 170.9M | 172.1M | 170.3M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $361.3M | $825.2M | $618.2M | $552.1M | $549.1M |
| YoY | — | +128.4% | -25.1% | -10.7% | -0.5% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total assets | $30.2B | $35.5B | $36.8B | $37.5B | $34.1B |
| YoY | — | +17.6% | +3.5% | +2.1% | -9.2% |
| Total current liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total liabilities | $11.2B | $12.8B | $14.1B | $15.1B | $14.9B |
| YoY | — | +14.8% | +10.2% | +6.9% | -1.3% |
| Total equity | $16.2B | $19.0B | $18.5B | $17.9B | $15.5B |
| YoY | — | +17.2% | -2.6% | -3.2% | -13.5% |
| Shares outstanding | 158.0M | 170.7M | 171.9M | 172.2M | 170.5M |
| YoY | — | +8.0% | +0.7% | +0.2% | -1.0% |
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 | $1.0B | $1.3B | $1.6B | $1.5B | $1.4B |
| YoY | — | +28.1% | +26.0% | -7.7% | -6.0% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| 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 | — | — | — | — | — |
| Net margin | — | — | — | — | — |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — |
| Current ratio | — | — | — | — | — |
| Total liabilities / equity | 0.69x | 0.68x | 0.77x | 0.85x | 0.96x |
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 |
|---|---|---|---|---|---|---|
| ARE FY25 · this stock | — | — | — | — | — | — |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| EQIX FY25 | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| AMT FY20 | $8.0B | +6.1% | — | 35.9% | — | 35.4% |
| 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% | — |
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.