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 | $3.9B | $3.8B | $4.2B | $4.7B | $5.1B |
| YoY | — | -3.9% | +12.1% | +10.3% | +10.1% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $1.2B | $1.3B | $1.5B | $1.7B | $1.9B |
| YoY | — | +6.4% | +18.1% | +14.2% | +9.4% |
| Pretax income | $1.6B | $1.0B | $1.2B | $1.4B | $1.4B |
| YoY | — | -38.5% | +18.7% | +13.6% | +4.6% |
| Income tax | $377.0M | $188.0M | $252.0M | $308.0M | $311.0M |
| YoY | — | -50.1% | +34.0% | +22.2% | +1.0% |
| Net income | $1.3B | $820.0M | $944.0M | $1.1B | $1.1B |
| YoY | — | -35.1% | +15.1% | +11.3% | +5.7% |
| EPS — basic | $6.96 | $4.51 | $4.90 | $5.39 | $5.69 |
| YoY | — | -35.2% | +8.6% | +10.0% | +5.6% |
| EPS — diluted | $6.95 | $4.51 | $4.90 | $5.39 | $5.69 |
| YoY | — | -35.1% | +8.6% | +10.0% | +5.6% |
| Weighted shares — basic | 182.0M | 182.0M | 193.0M | 195.0M | 195.0M |
| Weighted shares — diluted | 182.0M | 182.0M | 193.0M | 195.0M | 195.0M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $116.0M | $85.0M | $330.0M | $96.0M | $98.0M |
| YoY | — | -26.7% | +288.2% | -70.9% | +2.1% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $271.0M | $334.0M | $339.0M | $416.0M | $395.0M |
| YoY | — | +23.2% | +1.5% | +22.7% | -5.0% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $1.6B | $1.2B | $1.4B | $1.2B | $2.2B |
| YoY | — | -19.6% | +11.1% | -12.5% | +80.3% |
| Total assets | $26.1B | $27.8B | $30.3B | $32.8B | $35.4B |
| YoY | — | +6.6% | +9.0% | +8.4% | +8.0% |
| Total current liabilities | $2.1B | $2.8B | $2.2B | $3.1B | $4.7B |
| YoY | — | +31.3% | -23.5% | +46.4% | +50.7% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $7.3B | $7.7B | $9.8B | $10.3B | $10.8B |
| YoY | — | +5.4% | +27.3% | +5.5% | +4.9% |
| 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 | $1.4B | $1.1B | $1.9B | $2.0B | $2.1B |
| YoY | — | -23.1% | +69.1% | +9.1% | +0.7% |
| Capital expenditures | $1.8B | $2.3B | $2.6B | $2.9B | $3.1B |
| YoY | — | +30.2% | +12.1% | +10.9% | +9.5% |
| Free cash flow | $-323.0M | $-1.2B | $-701.0M | $-811.0M | $-1.1B |
| YoY | — | -268.1% | +41.0% | -15.7% | -31.6% |
| 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 | 30.6% | 33.8% | 35.7% | 36.9% | 36.7% |
| Net margin | 32.3% | 21.8% | 22.4% | 22.6% | 21.7% |
| Free cash flow margin | -8.3% | -31.6% | -16.6% | -17.4% | -20.8% |
| Effective tax rate | 23.0% | 18.7% | 21.1% | 22.7% | 21.9% |
| Current ratio | 0.73x | 0.44x | 0.65x | 0.39x | 0.46x |
| Total liabilities / equity | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Utilities), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| AWK FY25 · this stock | $5.1B | +10.1% | — | 36.7% | 21.7% | -20.8% |
| SO FY25 | $29.6B | +10.6% | — | 24.7% | — | -9.9% |
| CEG FY25 | $25.5B | +8.3% | — | 12.1% | 9.1% | 5.0% |
| EXC FY12 | $23.5B | +23.2% | — | 10.1% | — | 1.5% |
| EIX FY25 | $19.3B | +9.8% | — | 36.7% | 23.1% | -3.7% |
| VST FY25 | $17.7B | +3.0% | — | 10.7% | 5.3% | 7.4% |
| ED FY25 | $16.9B | +10.9% | — | 17.3% | 12.0% | — |
| D FY25 | $16.5B | +14.2% | — | 26.7% | 18.2% | — |
| FE FY25 | $15.1B | +12.0% | — | 14.6% | 6.8% | — |
| AEP FY13 | $14.8B | -0.9% | — | 19.1% | — | — |
| SRE FY25 | $13.7B | +3.9% | — | — | 13.4% | — |
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.