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.
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 | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $502.0M | $517.0M | $555.0M | $624.0M | $427.0M | $619.0M | $704.0M | $412.0M |
| YoY | — | — | — | — | -14.9% | +19.7% | +26.8% | -34.0% |
| Pretax income | $358.0M | $356.0M | $322.0M | $427.0M | $230.0M | $413.0M | $480.0M | $189.0M |
| YoY | — | — | — | — | -35.8% | +16.0% | +49.1% | -55.7% |
| Income tax | $36.0M | $-121.0M | $30.0M | $-18.0M | $1.0M | $-6.0M | $111.0M | $-58.0M |
| YoY | — | — | — | — | -97.2% | +95.0% | +270.0% | -222.2% |
| Net income | $322.0M | $477.0M | $292.0M | $445.0M | $229.0M | $419.0M | $369.0M | $247.0M |
| YoY | — | — | — | — | -28.9% | -12.2% | +26.4% | -44.5% |
| EPS — basic | $1.56 | $2.30 | — | $2.14 | $1.10 | $2.02 | — | $1.19 |
| YoY | — | — | — | — | -29.5% | -12.2% | — | -44.4% |
| EPS — diluted | $1.55 | $2.30 | — | $2.14 | $1.10 | $2.01 | — | $1.19 |
| YoY | — | — | — | — | -29.0% | -12.6% | — | -44.4% |
| Weighted shares — basic | 207.0M | 207.0M | — | 207.0M | 207.0M | 207.0M | — | 207.0M |
| Weighted shares — diluted | 207.0M | 207.0M | — | 207.0M | 207.0M | 207.0M | — | 208.0M |
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 | $20.0M | $969.0M | $24.0M | $33.0M | $32.0M | $34.0M | $208.0M | $238.0M |
| YoY | — | — | — | — | +60.0% | -96.5% | +766.7% | +621.2% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.5B | $1.4B | $1.7B | $1.7B | $1.6B | $1.4B | $2.0B | $1.9B |
| YoY | — | — | — | — | +6.3% | -0.7% | +20.2% | +10.7% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $4.5B | $5.6B | $3.6B | $3.6B | $3.5B | $3.8B | $4.3B | $4.4B |
| YoY | — | — | — | — | -21.6% | -33.0% | +20.5% | +21.4% |
| Total assets | $47.8B | $49.8B | $48.8B | $49.6B | $50.2B | $52.0B | $54.1B | $55.1B |
| YoY | — | — | — | — | +5.1% | +4.5% | +10.7% | +11.2% |
| Total current liabilities | $6.5B | $6.8B | $5.1B | $4.2B | $3.8B | $3.3B | $5.4B | $4.6B |
| YoY | — | — | — | — | -41.9% | -51.9% | +5.9% | +11.0% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $11.1B | $11.6B | $11.7B | $11.9B | $11.7B | $12.2B | $12.3B | $12.3B |
| YoY | — | — | — | — | +5.5% | +4.9% | +5.2% | +3.4% |
| Shares outstanding | 207.0M | 207.1M | 207.2M | 207.5M | 207.6M | 207.7M | 207.7M | 208.0M |
| YoY | — | — | — | — | +0.3% | +0.3% | +0.2% | +0.2% |
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 | $759.0M | $758.0M | $1.1B | $1.0B | $709.0M | $632.0M | $1.0B | $906.0M |
| YoY | — | — | — | — | -6.6% | -16.6% | -3.3% | -11.2% |
| 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 | — | — | — | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | — | — |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 10.1% | -34.0% | 9.3% | -4.2% | 0.4% | -1.5% | 23.1% | -30.7% |
| Current ratio | 0.69x | 0.83x | 0.71x | 0.87x | 0.94x | 1.15x | 0.80x | 0.95x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| DTE FY25 · this stock | — | — | — | — | — | — |
| 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% | — |
| D FY25 | $16.5B | +14.2% | — | 26.7% | 18.2% | — |
| 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% | — |
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.