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 | $12.7B | $14.2B | $15.3B | $15.7B | $16.1B |
| YoY | — | +11.4% | +8.0% | +2.7% | +2.2% |
| Cost of goods sold | $7.6B | $8.8B | $9.2B | $8.9B | $8.9B |
| YoY | — | +16.0% | +3.7% | -2.8% | +0.3% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $186.0M | $190.0M | $192.0M | $207.0M | $202.0M |
| YoY | — | +2.2% | +1.1% | +7.8% | -2.4% |
| Selling, general & administrative | $3.4B | $3.7B | $4.1B | $4.2B | $4.3B |
| YoY | — | +7.0% | +11.2% | +4.1% | +0.7% |
| Operating income | $1.6B | $1.6B | $2.0B | $2.8B | $2.7B |
| YoY | — | -2.3% | +27.5% | +40.7% | -2.3% |
| Pretax income | $1.4B | $1.3B | $1.8B | $2.6B | $2.5B |
| YoY | — | -5.0% | +30.7% | +46.5% | -0.9% |
| Income tax | $270.2M | $234.5M | $362.5M | $439.3M | $454.6M |
| YoY | — | -13.2% | +54.6% | +21.2% | +3.5% |
| Net income | $1.1B | $1.1B | $1.4B | $2.1B | $2.1B |
| YoY | — | -3.4% | +25.7% | +53.9% | -1.7% |
| EPS — basic | $3.95 | $3.83 | $4.82 | $7.43 | $7.33 |
| YoY | — | -3.0% | +25.8% | +54.1% | -1.3% |
| EPS — diluted | $3.91 | $3.81 | $4.79 | $7.37 | $7.28 |
| YoY | — | -2.6% | +25.7% | +53.9% | -1.2% |
| Weighted shares — basic | 286.3M | 285.2M | 285.0M | 284.3M | 283.3M |
| Weighted shares — diluted | 289.1M | 286.6M | 286.5M | 286.6M | 285.2M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $359.9M | $598.6M | $919.5M | $1.3B | $646.2M |
| YoY | — | +66.3% | +53.6% | +36.7% | -48.6% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $2.5B | $2.7B | $2.8B | $2.9B | $3.2B |
| YoY | — | +8.9% | +5.0% | +1.1% | +13.4% |
| Inventory | $1.5B | $1.8B | $1.5B | $1.5B | $1.5B |
| YoY | — | +20.2% | -16.5% | -2.2% | +1.7% |
| Total current assets | $4.7B | $5.5B | $5.6B | $6.0B | $6.0B |
| YoY | — | +17.2% | +2.7% | +6.8% | -1.2% |
| Total assets | $21.2B | $21.5B | $21.8B | $22.4B | $24.7B |
| YoY | — | +1.2% | +1.8% | +2.5% | +10.3% |
| Total current liabilities | $3.6B | $4.2B | $4.3B | $4.8B | $5.5B |
| YoY | — | +18.5% | +3.2% | +10.3% | +15.5% |
| Total liabilities | $14.0B | $14.2B | $13.8B | $13.6B | $14.9B |
| YoY | — | +1.8% | -3.0% | -1.3% | +9.5% |
| Total equity | $7.2B | $7.2B | $8.0B | $8.8B | $9.8B |
| YoY | — | +0.2% | +11.2% | +8.9% | +11.6% |
| Shares outstanding | 286.9M | 284.5M | 285.4M | 283.4M | 282.0M |
| YoY | — | -0.8% | +0.3% | -0.7% | -0.5% |
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 | $2.1B | $1.8B | $2.4B | $2.8B | $3.0B |
| YoY | — | -13.3% | +34.9% | +16.7% | +4.9% |
| Capital expenditures | $643.0M | $712.8M | $774.8M | $994.5M | $1.0B |
| YoY | — | +10.9% | +8.7% | +28.4% | +5.4% |
| Free cash flow | $1.4B | $1.1B | $1.6B | $1.8B | $1.9B |
| YoY | — | -24.2% | +52.2% | +11.1% | +4.7% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $106.6M | $518.2M | $13.7M | $986.5M | $783.8M |
| YoY | — | +386.1% | -97.4% | +7100.7% | -20.5% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 12.6% | 11.0% | 13.0% | 17.8% | 17.0% |
| Net margin | 8.9% | 7.7% | 9.0% | 13.4% | 12.9% |
| Free cash flow margin | 11.1% | 7.6% | 10.7% | 11.6% | 11.8% |
| Effective tax rate | 19.1% | 17.5% | 20.6% | 17.1% | 17.8% |
| Current ratio | 1.32x | 1.30x | 1.30x | 1.26x | 1.08x |
| Total liabilities / equity | 1.93x | 1.96x | 1.71x | 1.55x | 1.52x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| ECL FY25 · this stock | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| STLD FY25 | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
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.