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 | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B | $1.0B | $1.0B |
| YoY | — | — | — | — | -4.3% | -4.3% | -4.8% | -4.9% |
| Cost of goods sold | $27.0M | $26.0M | $28.0M | $27.0M | $30.0M | $29.0M | $26.0M | $19.0M |
| YoY | — | — | — | — | +11.1% | +11.5% | -7.1% | -29.6% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $93.0M | $92.0M | $93.0M | $99.0M | $97.0M | $94.0M | $90.0M | $97.0M |
| YoY | — | — | — | — | +4.3% | +2.2% | -3.2% | -2.0% |
| Operating income | $532.0M | $570.0M | $521.0M | $506.0M | $525.0M | $523.0M | $465.0M | $470.0M |
| YoY | — | — | — | — | -1.3% | -8.2% | -10.7% | -7.1% |
| Pretax income | $297.0M | — | $289.0M | $269.0M | $281.0M | — | $225.0M | $303.0M |
| YoY | — | — | — | — | -5.4% | — | -22.1% | +12.6% |
| Income tax | $3.0M | $4.0M | $5.0M | $4.0M | $4.0M | $3.0M | $5.0M | $4.0M |
| YoY | — | — | — | — | +33.3% | -25.0% | +0.0% | +0.0% |
| Net income | $303.0M | $-4.8B | $-464.0M | $291.0M | $323.0M | $294.0M | $151.0M | $94.0M |
| YoY | — | — | — | — | +6.6% | +106.2% | +132.5% | -67.7% |
| EPS — basic | $0.70 | — | $-1.07 | $0.67 | $0.74 | — | $0.34 | $0.22 |
| YoY | — | — | — | — | +5.7% | — | +131.8% | -67.2% |
| EPS — diluted | $0.70 | — | $-1.07 | $0.67 | $0.74 | — | $0.34 | $0.22 |
| YoY | — | — | — | — | +5.7% | — | +131.8% | -67.2% |
| Weighted shares — basic | 435.0M | — | 435.0M | 435.0M | 435.0M | — | 436.0M | 433.0M |
| Weighted shares — diluted | 436.0M | — | 436.0M | 437.0M | 437.0M | — | 437.0M | 434.0M |
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 | $194.0M | $100.0M | $60.0M | $94.0M | $57.0M | $99.0M | $55.0M | $1.0B |
| YoY | — | — | — | — | -70.6% | -1.0% | -8.3% | +1008.5% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $413.0M | $129.0M | $123.0M | $100.0M | $125.0M | $172.0M | $188.0M | $179.0M |
| YoY | — | — | — | — | -69.7% | +33.3% | +52.8% | +79.0% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B | $1.3B | $1.7B |
| YoY | — | — | — | — | -0.9% | +5.0% | +15.6% | +59.8% |
| Total assets | $38.0B | $32.7B | $31.8B | $31.6B | $31.5B | $31.5B | $31.4B | $21.5B |
| YoY | — | — | — | — | -17.2% | -3.7% | -1.2% | -32.0% |
| Total current liabilities | $2.1B | $2.2B | $3.0B | $3.8B | $4.3B | $4.5B | $4.7B | $3.3B |
| YoY | — | — | — | — | +104.9% | +105.7% | +59.5% | -13.5% |
| Total liabilities | $32.7B | $32.9B | $33.0B | $33.0B | $33.0B | $33.2B | $33.3B | $24.8B |
| YoY | — | — | — | — | +0.8% | +0.9% | +0.9% | -24.9% |
| Total equity | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Shares outstanding | 435.0M | 435.0M | 435.0M | 435.0M | 435.0M | 435.0M | 436.0M | 426.0M |
| YoY | — | — | — | — | +0.0% | +0.0% | +0.2% | -2.1% |
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 | $699.0M | $877.0M | $641.0M | $832.0M | $714.0M | $870.0M | $509.0M | $531.0M |
| YoY | — | — | — | — | +2.1% | -0.8% | -20.6% | -36.2% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $2.0M | $-65.0M | $21.0M | $2.0M | $0 | $-46.0M | $25.0M | $992.0M |
| YoY | — | — | — | — | -100.0% | +29.2% | +19.0% | +49500.0% |
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 | 47.5% | 50.9% | 49.1% | 47.7% | 49.0% | 48.8% | 46.0% | 46.6% |
| Net margin | 27.1% | -426.1% | -43.7% | 27.5% | 30.1% | 27.5% | 15.0% | 9.3% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 1.0% | — | 1.7% | 1.5% | 1.4% | — | 2.2% | 1.3% |
| Current ratio | 0.54x | 0.50x | 0.37x | 0.28x | 0.26x | 0.26x | 0.27x | 0.52x |
| 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.