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 | $15.2B | $19.5B | $22.7B | $23.3B | $23.9B | $22.2B | $24.6B | $24.2B |
| YoY | — | — | — | — | +57.1% | +14.0% | +8.0% | +3.9% |
| Cost of goods sold | $16.8B | $17.1B | $20.3B | $25.6B | $22.1B | $19.7B | $22.1B | $22.0B |
| YoY | — | — | — | — | +31.5% | +15.2% | +9.0% | -14.1% |
| Gross profit | $-1.6B | $2.4B | $2.4B | $-2.4B | $1.8B | $2.5B | $2.4B | $2.2B |
| YoY | — | — | — | — | +214.0% | +5.3% | -0.9% | +191.2% |
| Research & development | $836.0M | $844.0M | $910.0M | $897.0M | $964.0M | $903.0M | $921.0M | $830.0M |
| YoY | — | — | — | — | +15.3% | +7.0% | +1.2% | -7.5% |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $-3.8B | $461.0M | $-176.0M | $-4.8B | $8.8B | $448.0M | $156.0M | $354.0M |
| YoY | — | — | — | — | +332.8% | -2.8% | +188.6% | +107.4% |
| Pretax income | $-4.1B | $76.0M | $-561.0M | $-5.2B | $8.3B | $26.0M | $-365.0M | $-123.0M |
| YoY | — | — | — | — | +303.2% | -65.8% | +34.9% | +97.6% |
| Income tax | $-232.0M | $107.0M | $51.0M | $140.0M | $99.0M | $33.0M | $63.0M | $-7.0M |
| YoY | — | — | — | — | +142.7% | -69.2% | +23.5% | -105.0% |
| Net income | $-3.9B | $-37.0M | $-611.0M | $-5.3B | $8.2B | $-4.0M | $-444.0M | $-116.0M |
| YoY | — | — | — | — | +312.7% | +89.2% | +27.3% | +97.8% |
| EPS — basic | — | $-0.16 | $-0.92 | $-7.14 | — | $-0.11 | $-0.67 | $-0.26 |
| YoY | — | — | — | — | — | +31.2% | +27.2% | +96.4% |
| EPS — diluted | — | $-0.16 | $-0.92 | $-7.14 | — | $-0.11 | $-0.67 | $-0.26 |
| YoY | — | — | — | — | — | +31.2% | +27.2% | +96.4% |
| Weighted shares — basic | — | 753.4M | 756.6M | 759.9M | — | 788.0M | 790.6M | 792.7M |
| Weighted shares — diluted | — | 753.4M | 756.6M | 759.9M | — | 788.0M | 790.6M | 792.7M |
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 | $13.8B | $10.1B | $7.1B | $6.2B | $10.9B | $9.4B | $7.2B | $9.5B |
| YoY | — | — | — | — | -20.9% | -6.9% | +2.1% | +53.9% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $2.6B | $3.2B | $3.2B | $3.3B | $2.9B | $3.5B | $3.5B | $4.1B |
| YoY | — | — | — | — | +11.0% | +8.8% | +10.2% | +22.8% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $128.0B | $127.7B | $127.3B | $122.1B | $128.5B | $124.1B | $124.6B | $129.3B |
| YoY | — | — | — | — | +0.4% | -2.8% | -2.1% | +5.8% |
| Total assets | $156.4B | $156.5B | $155.1B | $150.0B | $168.2B | $164.8B | $165.9B | $170.7B |
| YoY | — | — | — | — | +7.6% | +5.3% | +6.9% | +13.8% |
| Total current liabilities | $97.1B | $103.7B | $103.4B | $103.3B | $108.1B | $105.5B | $109.6B | $114.0B |
| YoY | — | — | — | — | +11.4% | +1.8% | +6.0% | +10.3% |
| Total liabilities | $160.3B | $159.8B | $158.4B | $158.3B | $162.8B | $158.8B | $159.8B | $164.2B |
| YoY | — | — | — | — | +1.6% | -0.6% | +0.8% | +3.7% |
| Total equity | $-3.9B | $-3.3B | $-3.3B | $-8.2B | $5.5B | $6.0B | $6.1B | $6.5B |
| YoY | — | — | — | — | +239.6% | +280.1% | +285.1% | +179.4% |
| Shares outstanding | 1.01B | — | — | — | 1.01B | — | — | — |
| YoY | — | — | — | — | +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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $-3.5B | $-1.6B | $227.0M | $1.1B | $1.3B | $-179.0M | $1.4B | $1.5B |
| YoY | — | — | — | — | +138.6% | +88.9% | +500.9% | +33.2% |
| Capital expenditures | $648.0M | $674.0M | $427.0M | $885.0M | $956.0M | $1.3B | $733.0M | $1.0B |
| YoY | — | — | — | — | +47.5% | +89.2% | +71.7% | +16.6% |
| Free cash flow | $-4.1B | $-2.3B | $-200.0M | $238.0M | $375.0M | $-1.5B | $631.0M | $464.0M |
| YoY | — | — | — | — | +109.2% | +36.5% | +415.5% | +95.0% |
| Dividends paid | — | $72.0M | $86.0M | $86.0M | $87.0M | $86.0M | $86.0M | $87.0M |
| YoY | — | — | — | — | — | +19.4% | +0.0% | +1.2% |
| 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 | -10.4% | 12.4% | 10.7% | -10.2% | 7.6% | 11.5% | 9.8% | 9.0% |
| Operating margin | -24.7% | 2.4% | -0.8% | -20.5% | 36.7% | 2.0% | 0.6% | 1.5% |
| Net margin | -25.4% | -0.2% | -2.7% | -22.9% | 34.3% | -0.0% | -1.8% | -0.5% |
| Free cash flow margin | -26.9% | -11.7% | -0.9% | 1.0% | 1.6% | -6.5% | 2.6% | 1.9% |
| Effective tax rate | 5.7% | 140.8% | -9.1% | -2.7% | 1.2% | 126.9% | -17.3% | 5.7% |
| Current ratio | 1.32x | 1.23x | 1.23x | 1.18x | 1.19x | 1.18x | 1.14x | 1.13x |
| Total liabilities / equity | -41.01x | -48.07x | -48.08x | -19.18x | 29.85x | 26.52x | 26.19x | 25.08x |
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.