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 | $95.4B | $97.7B | $94.6B | $98.9B | $102.9B | $105.7B | $100.4B | $106.1B |
| YoY | — | — | — | — | +7.8% | +8.2% | +6.2% | +7.3% |
| Cost of goods sold | $52.9B | $55.3B | $51.1B | $54.0B | $57.0B | $59.1B | $55.4B | $58.9B |
| YoY | — | — | — | — | +7.7% | +6.9% | +8.6% | +9.0% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $832.0M | $2.4B | $3.4B | $2.4B | $-3.2B | $2.1B | $4.7B | $4.7B |
| YoY | — | — | — | — | -485.5% | -10.8% | +38.7% | +97.5% |
| Pretax income | $105.0M | $2.1B | $2.6B | $1.6B | $-3.5B | $1.4B | $3.9B | $4.0B |
| YoY | — | — | — | — | -3416.2% | -36.3% | +50.5% | +141.5% |
| Income tax | $34.0M | $503.0M | $835.0M | $634.0M | $508.0M | $-1.6B | $981.0M | $982.0M |
| YoY | — | — | — | — | +1394.1% | -411.9% | +17.5% | +54.9% |
| Net income | $87.0M | $1.6B | $1.8B | $1.0B | $-4.0B | $2.9B | $2.9B | $3.0B |
| YoY | — | — | — | — | -4669.0% | +79.0% | +65.4% | +191.8% |
| EPS — basic | $0.07 | — | $1.41 | $0.81 | $-3.13 | — | $2.31 | $2.33 |
| YoY | — | — | — | — | -4571.4% | — | +63.8% | +187.7% |
| EPS — diluted | $0.07 | — | $1.41 | $0.80 | $-3.13 | — | $2.30 | $2.31 |
| YoY | — | — | — | — | -4571.4% | — | +63.1% | +188.8% |
| Weighted shares — basic | 1.26B | — | 1.26B | 1.27B | 1.27B | — | 1.27B | 1.28B |
| Weighted shares — diluted | 1.26B | — | 1.26B | 1.27B | 1.27B | — | 1.28B | 1.29B |
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 | $6.9B | $8.6B | $10.1B | $11.8B | $9.1B | $8.5B | $9.5B | $11.3B |
| YoY | — | — | — | — | +32.3% | -1.5% | -5.3% | -3.9% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $36.2B | $36.5B | $39.6B | $40.7B | $43.9B | $39.8B | $41.0B | $40.3B |
| YoY | — | — | — | — | +21.2% | +9.1% | +3.4% | -0.8% |
| Inventory | $17.6B | $18.1B | $17.4B | $17.4B | $19.0B | $19.2B | $17.8B | $17.6B |
| YoY | — | — | — | — | +7.4% | +6.3% | +2.2% | +1.0% |
| Total current assets | $67.3B | $68.6B | $73.2B | $75.6B | $77.1B | $74.7B | $74.8B | $75.3B |
| YoY | — | — | — | — | +14.5% | +8.8% | +2.2% | -0.4% |
| Total assets | $252.4B | $253.2B | $255.6B | $258.3B | $255.3B | $253.5B | $253.0B | $253.8B |
| YoY | — | — | — | — | +1.1% | +0.1% | -1.0% | -1.8% |
| Total current liabilities | $84.6B | $84.6B | $89.0B | $94.2B | $92.7B | $88.7B | $86.4B | $87.0B |
| YoY | — | — | — | — | +9.5% | +4.8% | -2.9% | -7.6% |
| Total liabilities | $177.3B | $177.5B | $178.5B | $180.8B | $182.2B | $178.2B | $175.3B | $173.9B |
| YoY | — | — | — | — | +2.8% | +0.4% | -1.8% | -3.8% |
| Total equity | $74.9B | $75.6B | $76.9B | $77.4B | $72.9B | $75.2B | $77.5B | $79.7B |
| YoY | — | — | — | — | -2.7% | -0.5% | +0.7% | +3.0% |
| Shares outstanding | 1.26B | 1.26B | 1.26B | 1.27B | 1.27B | 1.27B | 1.27B | 1.28B |
| YoY | — | — | — | — | +1.0% | +0.9% | +0.9% | +0.9% |
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 | $-745.0M | $1.9B | $4.6B | $1.9B | $796.0M | $3.4B | $4.2B | $6.3B |
| YoY | — | — | — | — | +206.8% | +82.3% | -6.7% | +234.5% |
| Capital expenditures | $670.0M | $768.0M | $743.0M | $607.0M | $698.0M | $784.0M | $849.0M | $691.0M |
| YoY | — | — | — | — | +4.2% | +2.1% | +14.3% | +13.8% |
| Free cash flow | $-1.4B | $1.1B | $3.8B | $1.3B | $98.0M | $2.6B | $3.4B | $5.7B |
| YoY | — | — | — | — | +106.9% | +138.6% | -10.8% | +338.3% |
| Dividends paid | $837.0M | $838.0M | $840.0M | $866.0M | $846.0M | $845.0M | $847.0M | $878.0M |
| YoY | — | — | — | — | +1.1% | +0.8% | +0.8% | +1.4% |
| Share repurchases | $-1.0M | $0 | $0 | $0 | $0 | $0 | — | — |
| YoY | — | — | — | — | +100.0% | — | — | — |
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 | 0.9% | 2.4% | 3.6% | 2.4% | -3.1% | 2.0% | 4.7% | 4.4% |
| Net margin | 0.1% | 1.7% | 1.9% | 1.0% | -3.9% | 2.8% | 2.9% | 2.8% |
| Free cash flow margin | -1.5% | 1.1% | 4.0% | 1.3% | 0.1% | 2.5% | 3.4% | 5.3% |
| Effective tax rate | 32.4% | 23.7% | 31.9% | 38.5% | -14.6% | -115.9% | 24.9% | 24.7% |
| Current ratio | 0.80x | 0.81x | 0.82x | 0.80x | 0.83x | 0.84x | 0.87x | 0.87x |
| Total liabilities / equity | 2.37x | 2.35x | 2.32x | 2.34x | 2.50x | 2.37x | 2.26x | 2.18x |
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 |
|---|---|---|---|---|---|---|
| CVS FY25 · this stock | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| 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% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| 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.