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.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $44.0B | $52.6B | $61.3B | $51.7B | $45.7B |
| YoY | — | +19.4% | +16.5% | -15.6% | -11.7% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $1.6B | $1.9B | $2.2B | $2.3B | $2.3B |
| YoY | — | +20.5% | +13.9% | +5.2% | +0.9% |
| Selling, general & administrative | $3.4B | $3.9B | $4.6B | $4.8B | $4.7B |
| YoY | — | +14.2% | +18.9% | +5.3% | -3.7% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $1.7B | $2.0B | $2.9B | $2.1B | $1.3B |
| YoY | — | +21.0% | +43.0% | -27.1% | -39.9% |
| Net income | $6.0B | $7.1B | $10.2B | $7.1B | $5.0B |
| YoY | — | +19.6% | +42.6% | -30.2% | -29.2% |
| EPS — basic | $19.14 | $23.42 | $34.80 | $25.73 | $18.55 |
| YoY | — | +22.4% | +48.6% | -26.1% | -27.9% |
| EPS — diluted | $18.99 | $23.28 | $34.63 | $25.62 | $18.50 |
| YoY | — | +22.6% | +48.8% | -26.0% | -27.8% |
| Weighted shares — basic | 311.6M | 304.5M | 292.2M | 276.0M | 270.9M |
| Weighted shares — diluted | 314.0M | 306.3M | 293.6M | 277.1M | 271.7M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $8.0B | $4.8B | $7.5B | $7.3B | $8.3B |
| YoY | — | -40.5% | +56.2% | -1.8% | +13.0% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Inventory | $6.8B | $8.5B | $8.2B | $7.1B | $7.4B |
| YoY | — | +25.3% | -3.9% | -13.1% | +4.4% |
| Total current assets | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total assets | $84.1B | $90.0B | $104.1B | $107.3B | $106.0B |
| YoY | — | +7.0% | +15.6% | +3.1% | -1.2% |
| Total current liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total liabilities | $65.7B | $69.7B | $82.2B | $84.4B | $80.0B |
| YoY | — | +6.1% | +18.0% | +2.7% | -5.2% |
| Total equity | $18.4B | $20.3B | $21.8B | $22.8B | $25.9B |
| YoY | — | +9.9% | +7.5% | +4.8% | +13.6% |
| Shares outstanding | — | — | — | — | — |
| YoY | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $7.7B | $4.7B | $8.6B | $9.2B | $7.5B |
| YoY | — | -39.2% | +82.8% | +7.5% | -19.2% |
| Capital expenditures | $848.0M | $1.1B | $1.5B | $1.6B | $1.4B |
| YoY | — | +33.7% | +32.1% | +9.5% | -17.1% |
| Free cash flow | $6.9B | $3.6B | $7.1B | $7.6B | $6.1B |
| YoY | — | -48.2% | +98.9% | +7.1% | -19.7% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $2.5B | $3.6B | $7.2B | $4.0B | $1.1B |
| YoY | — | +41.7% | +100.6% | -44.5% | -71.6% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 13.5% | 13.6% | 16.6% | 13.7% | 11.0% |
| Free cash flow margin | 15.6% | 6.8% | 11.6% | 14.7% | 13.4% |
| Effective tax rate | — | — | — | — | — |
| Current ratio | — | — | — | — | — |
| Total liabilities / equity | 3.56x | 3.44x | 3.77x | 3.70x | 3.08x |
Peer comparison — latest full year
Same sector (Industrials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| DE FY25 · this stock | $45.7B | -11.7% | — | — | 11.0% | 13.4% |
| FDX FY26 | $94.7B | +7.7% | — | 5.8% | 4.7% | — |
| BA FY25 | $89.5B | +34.5% | 4.8% | 4.8% | 2.5% | -2.1% |
| UPS FY25 | $88.7B | -2.6% | — | 8.9% | 6.3% | 5.4% |
| RTX FY25 | $88.6B | +9.7% | — | 10.5% | 7.6% | 9.0% |
| LMT FY25 | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| GD FY25 | $52.5B | +10.1% | — | 10.2% | 8.0% | 7.5% |
| UBER FY25 | $52.0B | +18.3% | — | 10.7% | 19.3% | 18.8% |
| GE FY25 | $45.9B | +18.5% | — | — | 19.0% | — |
| CAT FY10 | $42.6B | +31.5% | — | 9.3% | — | — |
| NOC FY25 | $42.0B | +2.2% | — | 10.8% | 10.0% | 7.9% |
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.