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.
| FY16 | FY17 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $3.9B | $4.3B | $4.7B | $4.5B | $4.3B |
| YoY | — | +8.5% | — | -5.8% | -4.4% |
| Cost of goods sold | $417.0M | $399.0M | $304.0M | $107.0M | $113.0M |
| YoY | — | -4.3% | — | -64.8% | +5.6% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $371.0M | $426.0M | $502.0M | $435.0M | $383.0M |
| YoY | — | +14.8% | — | -13.3% | -12.0% |
| Operating income | $949.0M | $967.0M | $2.1B | $2.1B | $2.1B |
| YoY | — | +1.9% | — | +1.0% | -2.0% |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $-17.0M | $-26.0M | $21.0M | $18.0M | $16.0M |
| YoY | — | -52.9% | — | -14.3% | -11.1% |
| Net income | $357.0M | $444.6M | $1.5B | $-3.9B | $444.0M |
| YoY | — | +24.5% | — | -359.9% | +111.4% |
| EPS — basic | $0.95 | $0.80 | $3.46 | $-8.98 | $1.02 |
| YoY | — | -15.8% | — | -359.5% | +111.4% |
| EPS — diluted | $0.95 | $0.80 | $3.46 | $-8.98 | $1.01 |
| YoY | — | -15.8% | — | -359.5% | +111.2% |
| Weighted shares — basic | 340.0M | 382.0M | 434.0M | 434.0M | 435.0M |
| Weighted shares — diluted | 341.0M | 383.0M | 434.0M | 434.0M | 437.0M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY16 | FY17 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $568.0M | $314.0M | $105.0M | $100.0M | $99.0M |
| YoY | — | -44.7% | — | -4.8% | -1.0% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $373.5M | $398.0M | $481.0M | $129.0M | $172.0M |
| YoY | — | +6.6% | — | -73.2% | +33.3% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $1.3B | $1.1B | $1.0B | $1.1B | $1.1B |
| YoY | — | -14.4% | — | +5.6% | +5.0% |
| Total assets | $22.7B | $32.2B | $38.5B | $32.7B | $31.5B |
| YoY | — | +42.1% | — | -15.0% | -3.7% |
| Total current liabilities | $961.4M | $1.3B | $2.6B | $2.2B | $4.5B |
| YoY | — | +34.4% | — | -15.8% | +105.7% |
| Total liabilities | $15.1B | $19.9B | $32.1B | $32.9B | $33.2B |
| YoY | — | +31.6% | — | +2.2% | +0.9% |
| Total equity | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Shares outstanding | 360.5M | 406.0M | 434.0M | 435.0M | 435.0M |
| YoY | — | +12.6% | — | +0.2% | +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.
| FY16 | FY17 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $1.8B | $2.0B | $3.1B | $2.9B | $3.1B |
| YoY | — | +13.7% | — | -5.9% | +3.9% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $25.0M | $-23.0M | $-30.0M | $-33.0M | $-23.0M |
| YoY | — | -192.0% | — | -10.0% | +30.3% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY16 | FY17 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 24.2% | 22.7% | 44.3% | 47.5% | 48.7% |
| Net margin | 9.1% | 10.4% | 31.7% | -87.5% | 10.4% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — |
| Current ratio | 1.38x | 0.88x | 0.40x | 0.50x | 0.26x |
| Total liabilities / equity | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| CCI FY25 · this stock | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| 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% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
| SBAC FY25 | $2.8B | +5.1% | 75.5% | 47.7% | 37.4% | 37.9% |
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.