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 | $62.3B | $66.6B | $77.8B | $66.5B | $89.5B |
| YoY | — | +6.9% | +16.8% | -14.5% | +34.5% |
| Cost of goods sold | $59.2B | $63.1B | $70.1B | $68.5B | $85.2B |
| YoY | — | +6.5% | +11.1% | -2.2% | +24.3% |
| Gross profit | $3.0B | $3.5B | $7.7B | $-2.0B | $4.3B |
| YoY | — | +15.8% | +118.8% | -125.8% | +315.4% |
| Research & development | $2.2B | $2.9B | $3.4B | $3.8B | $3.6B |
| YoY | — | +26.8% | +18.4% | +12.9% | -5.2% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $-2.9B | $-3.5B | $-773.0M | $-10.7B | $4.3B |
| YoY | — | -22.6% | +78.0% | -1285.1% | +140.0% |
| Pretax income | $-5.0B | $-5.0B | $-2.0B | $-12.2B | $2.6B |
| YoY | — | +0.2% | +60.1% | -509.0% | +121.6% |
| Income tax | $-743.0M | $31.0M | $237.0M | $-381.0M | $397.0M |
| YoY | — | +104.2% | +664.5% | -260.8% | +204.2% |
| Net income | $-4.2B | $-4.9B | $-2.2B | $-11.8B | $2.2B |
| YoY | — | -17.4% | +55.0% | -431.8% | +118.9% |
| EPS — basic | $-7.15 | $-8.30 | $-3.67 | $-18.36 | $2.49 |
| YoY | — | -16.1% | +55.8% | -400.3% | +113.6% |
| EPS — diluted | $-7.15 | $-8.30 | $-3.67 | $-18.36 | $2.48 |
| YoY | — | -16.1% | +55.8% | -400.3% | +113.5% |
| Weighted shares — basic | 587.6M | 594.9M | 605.8M | 646.9M | 759.8M |
| Weighted shares — diluted | 587.6M | 594.9M | 605.8M | 646.9M | 762.3M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $8.1B | $14.6B | $12.7B | $13.8B | $10.9B |
| YoY | — | +81.5% | -13.2% | +8.7% | -20.9% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $2.6B | $2.5B | $2.6B | $2.6B | $2.9B |
| YoY | — | -4.7% | +5.2% | -0.7% | +11.0% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $108.7B | $109.5B | $109.3B | $128.0B | $128.5B |
| YoY | — | +0.8% | -0.2% | +17.1% | +0.4% |
| Total assets | $138.6B | $137.1B | $137.0B | $156.4B | $168.2B |
| YoY | — | -1.0% | -0.1% | +14.1% | +7.6% |
| Total current liabilities | $82.0B | $90.1B | $95.8B | $97.1B | $108.1B |
| YoY | — | +9.8% | +6.4% | +1.3% | +11.4% |
| Total liabilities | $153.4B | $152.9B | $154.2B | $160.3B | $162.8B |
| YoY | — | -0.3% | +0.8% | +3.9% | +1.6% |
| Total equity | $-15.0B | $-15.9B | $-17.2B | $-3.9B | $5.5B |
| YoY | — | -5.9% | -8.5% | +77.3% | +239.6% |
| Shares outstanding | 1.01B | 1.01B | 1.01B | 1.01B | 1.01B |
| YoY | — | +0.0% | +0.0% | +0.0% | +0.0% |
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 | $-3.4B | $3.5B | $6.0B | $-12.1B | $1.1B |
| YoY | — | +202.8% | +69.7% | -302.7% | +108.8% |
| Capital expenditures | $980.0M | $1.2B | $1.5B | $2.2B | $2.9B |
| YoY | — | +24.7% | +25.0% | +46.0% | +31.9% |
| Free cash flow | $-4.4B | $2.3B | $4.4B | $-14.3B | $-1.9B |
| YoY | — | +152.1% | +93.6% | -422.8% | +86.9% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 4.9% | 5.3% | 9.9% | -3.0% | 4.8% |
| Operating margin | -4.6% | -5.3% | -1.0% | -16.1% | 4.8% |
| Net margin | -6.7% | -7.4% | -2.9% | -17.8% | 2.5% |
| Free cash flow margin | -7.1% | 3.4% | 5.7% | -21.5% | -2.1% |
| Effective tax rate | 14.8% | -0.6% | -11.8% | 3.1% | 15.1% |
| Current ratio | 1.33x | 1.22x | 1.14x | 1.32x | 1.19x |
| Total liabilities / equity | -10.23x | -9.63x | -8.95x | -41.01x | 29.85x |
Peer comparison — latest full year
Same sector (Industrials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| BA FY25 · this stock | $89.5B | +34.5% | 4.8% | 4.8% | 2.5% | -2.1% |
| FDX FY26 | $94.7B | +7.7% | — | 5.8% | 4.7% | — |
| UPS FY25 | $88.7B | -2.6% | — | 8.9% | 6.3% | 5.4% |
| RTX FY25 | $88.6B | +9.7% | — | 10.5% | 7.6% | 9.0% |
| LMT FY25 | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| GD FY25 | $52.5B | +10.1% | — | 10.2% | 8.0% | 7.5% |
| UBER FY25 | $52.0B | +18.3% | — | 10.7% | 19.3% | 18.8% |
| GE FY25 | $45.9B | +18.5% | — | — | 19.0% | — |
| DE FY25 | $45.7B | -11.7% | — | — | 11.0% | 13.4% |
| CAT FY10 | $42.6B | +31.5% | — | 9.3% | — | — |
| NOC FY25 | $42.0B | +2.2% | — | 10.8% | 10.0% | 7.9% |
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.