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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.9B | $12.3B | $11.2B | $12.3B | $12.2B | $12.5B | $11.5B | $13.0B |
| YoY | — | — | — | — | +2.8% | +1.3% | +2.6% | +5.7% |
| Cost of goods sold | $3.0B | $4.8B | $3.0B | $3.4B | $3.4B | $4.1B | $3.4B | $3.7B |
| YoY | — | — | — | — | +16.2% | -14.9% | +12.8% | +10.5% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $2.4B | $3.2B | $2.3B | $2.6B | $2.5B | $2.6B | $2.6B | $3.0B |
| YoY | — | — | — | — | +6.5% | -19.0% | +17.4% | +14.7% |
| Selling, general & administrative | $2.0B | $2.1B | $1.6B | $1.7B | $1.8B | $2.2B | $1.6B | $1.8B |
| YoY | — | — | — | — | -9.8% | +2.1% | +2.1% | +6.6% |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | $1.7B | $175.0M | $3.0B | $1.8B | $3.1B | $1.5B | $3.2B | $4.1B |
| YoY | — | — | — | — | +85.8% | +740.0% | +9.1% | +130.5% |
| Income tax | $461.0M | $99.0M | $509.0M | $460.0M | $919.0M | $384.0M | $561.0M | $770.0M |
| YoY | — | — | — | — | +99.3% | +287.9% | +10.2% | +67.4% |
| Net income | $1.2B | $72.0M | $2.5B | $1.3B | $2.2B | $1.1B | $2.7B | $3.3B |
| YoY | — | — | — | — | +81.8% | +1409.7% | +9.0% | +153.2% |
| EPS — basic | $0.60 | — | $1.21 | $0.64 | $1.08 | — | $1.31 | $1.62 |
| YoY | — | — | — | — | +80.0% | — | +8.3% | +153.1% |
| EPS — diluted | $0.60 | — | $1.20 | $0.64 | $1.08 | — | $1.31 | $1.62 |
| YoY | — | — | — | — | +80.0% | — | +9.2% | +153.1% |
| Weighted shares — basic | 2.03B | — | 2.03B | 2.04B | 2.04B | — | 2.04B | 2.04B |
| Weighted shares — diluted | 2.03B | — | 2.04B | 2.04B | 2.04B | — | 2.05B | 2.05B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $7.9B | $10.3B | $10.9B | $12.6B | $15.7B | $10.2B | $9.6B | $8.7B |
| YoY | — | — | — | — | +99.3% | -1.3% | -12.0% | -30.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $9.3B | $9.0B | $9.1B | $9.7B | $9.6B | $9.6B | $7.9B | $9.1B |
| YoY | — | — | — | — | +3.3% | +6.4% | -12.3% | -6.5% |
| Inventory | $3.3B | $2.6B | $2.7B | $2.7B | $2.8B | $2.7B | $2.8B | $2.7B |
| YoY | — | — | — | — | -17.2% | +5.2% | +3.4% | +0.0% |
| Total current assets | $28.1B | $29.8B | $30.8B | $33.2B | $35.6B | $29.4B | $27.2B | $28.6B |
| YoY | — | — | — | — | +26.9% | -1.3% | -11.6% | -14.0% |
| Total assets | $93.7B | $92.6B | $92.4B | $94.7B | $96.9B | $90.0B | $86.5B | $87.6B |
| YoY | — | — | — | — | +3.4% | -2.8% | -6.4% | -7.4% |
| Total current liabilities | $22.6B | $23.8B | $24.1B | $27.5B | $28.1B | $23.4B | $19.2B | $18.7B |
| YoY | — | — | — | — | +24.3% | -1.5% | -20.4% | -32.2% |
| Total liabilities | $76.5B | $76.2B | $75.0B | $77.2B | $78.3B | $71.5B | $66.4B | $65.3B |
| YoY | — | — | — | — | +2.4% | -6.1% | -11.5% | -15.4% |
| Total equity | $17.1B | $16.3B | $17.4B | $17.4B | $18.6B | $18.5B | $20.1B | $22.3B |
| YoY | — | — | — | — | +8.2% | +13.1% | +15.4% | +28.0% |
| 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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.6B | $4.4B | $2.0B | $3.9B | $6.3B | $2.0B | $1.1B | $3.4B |
| YoY | — | — | — | — | +12.9% | -55.5% | -43.5% | -13.4% |
| Capital expenditures | $324.0M | $378.0M | $260.0M | $361.0M | $320.0M | $370.0M | $347.0M | $305.0M |
| YoY | — | — | — | — | -1.2% | -2.1% | +33.5% | -15.5% |
| Free cash flow | $5.3B | $4.1B | $1.7B | $3.6B | $6.0B | $1.6B | $757.0M | $3.1B |
| YoY | — | — | — | — | +13.7% | -60.5% | -55.3% | -13.2% |
| Dividends paid | $1.2B | $1.2B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B | $1.3B |
| YoY | — | — | — | — | +3.9% | +3.6% | +2.0% | +2.0% |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | 10.2% | 0.6% | 21.9% | 10.7% | 18.0% | 8.7% | 23.3% | 25.6% |
| Free cash flow margin | 44.3% | 32.9% | 15.1% | 29.0% | 49.0% | 12.8% | 6.6% | 23.8% |
| Effective tax rate | 27.5% | 56.6% | 17.1% | 25.9% | 29.5% | 26.1% | 17.3% | 18.8% |
| Current ratio | 1.24x | 1.25x | 1.28x | 1.21x | 1.27x | 1.26x | 1.42x | 1.53x |
| Total liabilities / equity | 4.46x | 4.67x | 4.31x | 4.43x | 4.22x | 3.87x | 3.31x | 2.93x |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| BMY FY25 · this stock | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
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.