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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.1B | $8.5B | $12.8B | $12.0B | $12.4B | $9.6B | $13.4B | $12.6B |
| YoY | — | — | — | — | +11.2% | +13.0% | +4.7% | +4.9% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $626.0M | $526.0M | $549.0M | $556.0M | $680.0M | $554.0M | $583.0M | $567.0M |
| YoY | — | — | — | — | +8.6% | +5.3% | +6.2% | +2.0% |
| Selling, general & administrative | $1.2B | $972.0M | $1.2B | $1.2B | $1.3B | $972.0M | $1.2B | $1.2B |
| YoY | — | — | — | — | +3.6% | +0.0% | +1.0% | +0.2% |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | $249.0M | $27.0M | $539.0M | $339.0M | $354.0M | $196.0M | $518.0M | $529.0M |
| YoY | — | — | — | — | +42.2% | +625.9% | -3.9% | +56.0% |
| Net income | $1.2B | $869.0M | $1.8B | $1.3B | $1.1B | $656.0M | $1.8B | $1.4B |
| YoY | — | — | — | — | -14.5% | -24.5% | -1.7% | +7.0% |
| EPS — basic | — | $3.20 | $6.65 | $4.76 | — | $2.43 | $6.57 | $5.11 |
| YoY | — | — | — | — | — | -24.1% | -1.2% | +7.4% |
| EPS — diluted | — | $3.19 | $6.64 | $4.75 | — | $2.42 | $6.55 | $5.10 |
| YoY | — | — | — | — | — | -24.1% | -1.4% | +7.4% |
| Weighted shares — basic | — | 271.6M | 271.1M | 270.7M | — | 270.3M | 270.1M | 269.8M |
| Weighted shares — diluted | — | 272.3M | 271.8M | 271.4M | — | 270.9M | 270.8M | 270.7M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $7.3B | $6.6B | $8.0B | $8.6B | $8.3B | $6.8B | $7.9B | $8.9B |
| YoY | — | — | — | — | +13.0% | +3.0% | -1.1% | +4.1% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | $7.1B | $7.7B | $7.9B | $7.7B | $7.4B | $8.3B | $8.2B | $7.8B |
| YoY | — | — | — | — | +4.4% | +7.0% | +4.0% | +1.3% |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $107.3B | $103.1B | $106.3B | $107.8B | $106.0B | $103.4B | $107.0B | $107.6B |
| YoY | — | — | — | — | -1.2% | +0.3% | +0.7% | -0.2% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $84.4B | $80.6B | $81.9B | $82.6B | $80.0B | $77.1B | $79.5B | $79.6B |
| YoY | — | — | — | — | -5.2% | -4.3% | -2.9% | -3.6% |
| Total equity | $22.8B | $22.5B | $24.3B | $25.2B | $25.9B | $26.3B | $27.4B | $28.0B |
| YoY | — | — | — | — | +13.6% | +17.0% | +12.8% | +11.2% |
| 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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $5.1B | $-1.1B | $1.7B | $2.9B | $4.0B | $-890.0M | $1.9B | $2.2B |
| YoY | — | — | — | — | -21.5% | +21.4% | +13.6% | -23.8% |
| Capital expenditures | $597.0M | $352.0M | $203.0M | $297.0M | $508.0M | $256.0M | $195.0M | $265.0M |
| YoY | — | — | — | — | -14.9% | -27.3% | -3.9% | -10.8% |
| Free cash flow | $4.5B | $-1.5B | $1.5B | $2.6B | $3.5B | $-1.1B | $1.7B | $1.9B |
| YoY | — | — | — | — | -22.4% | +22.8% | +16.0% | -25.2% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $780.0M | $441.0M | $397.0M | $298.0M | $2.0M | $302.0M | $198.0M | $197.0M |
| YoY | — | — | — | — | -99.7% | -31.5% | -50.1% | -33.9% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | 11.2% | 10.2% | 14.1% | 10.7% | 8.6% | 6.8% | 13.3% | 10.9% |
| Free cash flow margin | 40.3% | -17.4% | 11.7% | 21.6% | 28.1% | -11.9% | 13.0% | 15.4% |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 3.70x | 3.58x | 3.37x | 3.28x | 3.08x | 2.93x | 2.90x | 2.84x |
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.