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 | $1.7M | $1.5M | $2.5M | $2.6M | $2.6M | $5.3M | $2.1M | $3.1M |
| YoY | — | — | — | — | +52.9% | +253.3% | -16.0% | +19.2% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Net income | $-4.2M | $40.7M | $38.8M | $80.7M | $108.9M | $156.0M | $42.4M | $18.8M |
| YoY | — | — | — | — | +2692.9% | +283.3% | +9.3% | -76.7% |
| EPS — basic | $-0.04 | — | $0.36 | $0.74 | $1.00 | — | $0.40 | $0.18 |
| YoY | — | — | — | — | +2600.0% | — | +11.1% | -75.7% |
| EPS — diluted | $-0.04 | — | $0.36 | $0.74 | $1.00 | — | $0.40 | $0.18 |
| YoY | — | — | — | — | +2600.0% | — | +11.1% | -75.7% |
| Weighted shares — basic | 108.4M | — | 108.5M | 108.6M | 108.5M | — | 104.8M | 102.3M |
| Weighted shares — diluted | 108.4M | — | 108.6M | 109.4M | 108.6M | — | 104.9M | 102.4M |
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 | $31.2M | $21.0M | $26.2M | $33.1M | $25.9M | $25.2M | $40.7M | $44.7M |
| YoY | — | — | — | — | -17.0% | +20.0% | +55.3% | +35.0% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $8.9B | $8.9B | $9.0B | $9.1B | $9.1B | $9.0B | $9.1B | $9.5B |
| YoY | — | — | — | — | +1.2% | +2.2% | +0.7% | +3.7% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $4.1B | $4.1B | $4.3B | $4.5B | $4.4B | $4.6B | $5.0B | $5.6B |
| YoY | — | — | — | — | +7.5% | +12.2% | +15.1% | +25.1% |
| Total equity | $4.7B | $4.7B | $4.6B | $4.6B | $4.5B | $4.4B | $4.0B | $3.8B |
| YoY | — | — | — | — | -4.3% | -6.7% | -12.7% | -17.1% |
| Shares outstanding | 106.7M | 106.7M | 106.8M | 106.9M | 106.4M | 104.3M | 101.9M | 100.5M |
| YoY | — | — | — | — | -0.3% | -2.2% | -4.6% | -6.0% |
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 | $261.6M | $152.4M | $148.2M | $230.7M | $250.9M | $196.8M | $148.1M | $211.6M |
| YoY | — | — | — | — | -4.1% | +29.1% | -0.1% | -8.3% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | $113.5M | $113.5M | $113.5M | $116.0M | $116.0M | $115.5M | $114.9M | $112.1M |
| YoY | — | — | — | — | +2.2% | +1.8% | +1.2% | -3.4% |
| Share repurchases | $0 | $0 | $0 | $0 | $50.0M | $220.7M | $262.8M | $170.2M |
| 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 | -247.1% | 2713.3% | 1552.0% | 3103.8% | 4188.5% | 2943.4% | 2019.0% | 606.5% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 0.87x | 0.88x | 0.93x | 0.97x | 0.98x | 1.06x | 1.23x | 1.47x |
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 |
|---|---|---|---|---|---|---|
| CPT FY25 · this stock | $13.0M | +83.1% | — | — | 2957.7% | — |
| 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% | — |
| CCI FY25 | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
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.