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 | $13.7B | $15.7B | $14.7B | $15.3B | $16.9B |
| YoY | — | +14.6% | -6.4% | +4.0% | +10.9% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $2.8B | $2.6B | $3.2B | $2.7B | $2.9B |
| YoY | — | -7.1% | +21.8% | -16.5% | +9.9% |
| Pretax income | $1.4B | $2.1B | $3.0B | $2.1B | $2.6B |
| YoY | — | +51.7% | +43.1% | -28.8% | +21.5% |
| Income tax | $190.0M | $498.0M | $487.0M | $318.0M | $574.0M |
| YoY | — | +162.1% | -2.2% | -34.7% | +80.5% |
| Net income | $1.3B | $1.7B | $2.5B | $1.8B | $2.0B |
| YoY | — | +23.3% | +51.7% | -27.7% | +11.2% |
| EPS — basic | $3.86 | $4.68 | $7.25 | $5.26 | $5.66 |
| YoY | — | +21.2% | +54.9% | -27.4% | +7.6% |
| EPS — diluted | $3.85 | $4.66 | $7.21 | $5.24 | $5.64 |
| YoY | — | +21.0% | +54.7% | -27.3% | +7.6% |
| Weighted shares — basic | 348.4M | 354.5M | 347.7M | 346.0M | 357.4M |
| Weighted shares — diluted | 349.4M | 355.8M | 349.3M | 347.3M | 358.7M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $992.0M | $1.3B | $1.2B | $1.3B | $1.6B |
| YoY | — | +29.2% | -7.3% | +11.4% | +23.0% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.9B | $2.2B | $2.4B | $2.4B | $2.6B |
| YoY | — | +12.8% | +10.3% | +0.9% | +5.9% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $5.6B | $13.0B | $6.5B | $6.7B | $6.8B |
| YoY | — | +133.7% | -49.6% | +1.9% | +1.3% |
| Total assets | $63.1B | $69.1B | $66.3B | $70.6B | $74.6B |
| YoY | — | +9.4% | -4.0% | +6.4% | +5.7% |
| Total current liabilities | $5.4B | $11.3B | $6.5B | $6.4B | $6.6B |
| YoY | — | +108.9% | -43.0% | -0.4% | +2.8% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $20.0B | $20.7B | $21.2B | $22.0B | $24.2B |
| YoY | — | +3.2% | +2.3% | +3.8% | +10.1% |
| Shares outstanding | 354.0M | 355.0M | 345.4M | 346.6M | 361.0M |
| YoY | — | +0.3% | -2.7% | +0.3% | +4.2% |
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 | $2.7B | $3.9B | $2.2B | $3.6B | $4.8B |
| YoY | — | +44.0% | -45.2% | +67.6% | +32.8% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $0 | $0 | $1.0B | $0 | $0 |
| YoY | — | — | — | -100.0% | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 20.7% | 16.7% | 21.8% | 17.5% | 17.3% |
| Net margin | 9.8% | 10.6% | 17.2% | 11.9% | 12.0% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 13.7% | 23.7% | 16.2% | 14.9% | 22.1% |
| Current ratio | 1.02x | 1.14x | 1.01x | 1.04x | 1.02x |
| 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 |
|---|---|---|---|---|---|---|
| ED FY25 · this stock | $16.9B | +10.9% | — | 17.3% | 12.0% | — |
| 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% |
| 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% | — |
| 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.