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.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.5B | $3.9B | $3.4B | $4.1B | $3.8B | $4.5B | $4.1B | $5.0B |
| YoY | — | — | — | — | +9.3% | +14.9% | +20.4% | +23.1% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $805.0M | $1.2B | $391.0M | $1.2B | $1.1B | $1.3B | $756.0M | $1.4B |
| YoY | — | — | — | — | +36.1% | +9.9% | +93.4% | +13.8% |
| Pretax income | $578.0M | $1.2B | $74.0M | $752.0M | $1.0B | $1.2B | $582.0M | $834.0M |
| YoY | — | — | — | — | +78.7% | +7.1% | +686.5% | +10.9% |
| Income tax | $112.0M | $213.0M | $-10.0M | $40.0M | $220.0M | $216.0M | $56.0M | $48.0M |
| YoY | — | — | — | — | +96.4% | +1.4% | +660.0% | +20.0% |
| Net income | $563.0M | $934.0M | $134.0M | $665.0M | $760.0M | $1.0B | $567.0M | $621.0M |
| YoY | — | — | — | — | +35.0% | +7.7% | +323.1% | -6.6% |
| EPS — basic | $0.64 | $1.09 | $0.14 | $0.77 | $0.88 | $1.17 | $0.65 | $0.69 |
| YoY | — | — | — | — | +37.5% | +7.3% | +364.3% | -10.4% |
| EPS — diluted | $0.64 | $1.09 | $0.14 | $0.77 | $0.88 | $1.16 | $0.65 | $0.69 |
| YoY | — | — | — | — | +37.5% | +6.4% | +364.3% | -10.4% |
| Weighted shares — basic | 838.3M | 839.0M | — | 852.2M | 852.9M | 853.5M | — | 878.9M |
| Weighted shares — diluted | 838.3M | 839.3M | — | 852.2M | 853.2M | 855.4M | — | 880.1M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $139.0M | $1.8B | $310.0M | $355.0M | $344.0M | $932.0M | $250.0M | $351.0M |
| YoY | — | — | — | — | +147.5% | -47.5% | -19.4% | -1.1% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $2.3B | $2.1B | $2.2B | $2.0B | $2.3B | $2.3B | $2.5B | $2.4B |
| YoY | — | — | — | — | +1.7% | +9.8% | +16.7% | +16.8% |
| Inventory | $1.8B | $1.7B | $1.8B | $1.8B | $1.8B | $1.9B | $2.0B | $1.9B |
| YoY | — | — | — | — | +3.9% | +10.3% | +10.9% | +10.0% |
| Total current assets | $10.8B | $8.0B | $6.6B | $6.4B | $7.0B | $8.2B | $8.1B | $9.0B |
| YoY | — | — | — | — | -35.3% | +2.9% | +22.0% | +40.4% |
| Total assets | $100.4B | $99.8B | $102.4B | $104.6B | $107.4B | $111.6B | $115.9B | $118.6B |
| YoY | — | — | — | — | +7.0% | +11.8% | +13.1% | +13.4% |
| Total current liabilities | $11.5B | $10.8B | $9.3B | $8.8B | $10.4B | $9.7B | $10.4B | $11.6B |
| YoY | — | — | — | — | -9.2% | -10.2% | +12.4% | +31.9% |
| Total liabilities | $73.3B | $72.3B | $72.6B | $73.8B | $76.6B | $79.9B | $82.4B | $84.9B |
| YoY | — | — | — | — | +4.4% | +10.5% | +13.5% | +14.9% |
| Total equity | $27.1B | $27.5B | $26.9B | $27.4B | $27.2B | $27.7B | $29.1B | $29.1B |
| YoY | — | — | — | — | +0.5% | +0.6% | +8.3% | +6.5% |
| Shares outstanding | 839.0M | 840.0M | 852.0M | 853.0M | 853.0M | 854.0M | 879.0M | 879.0M |
| YoY | — | — | — | — | +1.7% | +1.7% | +3.2% | +3.0% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $856.0M | $1.5B | $641.0M | $1.2B | $1.2B | $1.9B | $987.0M | $882.0M |
| YoY | — | — | — | — | +45.6% | +26.4% | +54.0% | -25.4% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 23.1% | 30.9% | 11.5% | 30.0% | 28.8% | 29.6% | 18.5% | 27.7% |
| Net margin | 16.2% | 23.7% | 3.9% | 16.3% | 19.9% | 22.2% | 13.9% | 12.4% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 19.4% | 18.3% | -13.5% | 5.3% | 21.3% | 17.4% | 9.6% | 5.8% |
| Current ratio | 0.93x | 0.74x | 0.71x | 0.73x | 0.67x | 0.84x | 0.77x | 0.78x |
| Total liabilities / equity | 2.71x | 2.63x | 2.70x | 2.70x | 2.81x | 2.88x | 2.83x | 2.91x |
Peer comparison — latest full year
Same sector (Utilities), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| D FY25 · this stock | $16.5B | +14.2% | — | 26.7% | 18.2% | — |
| SO FY25 | $29.6B | +10.6% | — | 24.7% | — | -9.9% |
| CEG FY25 | $25.5B | +8.3% | — | 12.1% | 9.1% | 5.0% |
| EXC FY12 | $23.5B | +23.2% | — | 10.1% | — | 1.5% |
| EIX FY25 | $19.3B | +9.8% | — | 36.7% | 23.1% | -3.7% |
| VST FY25 | $17.7B | +3.0% | — | 10.7% | 5.3% | 7.4% |
| ED FY25 | $16.9B | +10.9% | — | 17.3% | 12.0% | — |
| FE FY25 | $15.1B | +12.0% | — | 14.6% | 6.8% | — |
| AEP FY13 | $14.8B | -0.9% | — | 19.1% | — | — |
| SRE FY25 | $13.7B | +3.9% | — | — | 13.4% | — |
| PCG FY09 | $13.4B | -8.4% | — | 17.2% | — | -6.9% |
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.