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.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B | $4.1B | $3.7B | $4.8B | $3.6B | $4.5B | $4.0B | $5.1B |
| YoY | — | — | — | — | +11.6% | +10.7% | +8.9% | +6.2% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $320.0M | $862.0M | $477.0M | $1.1B | $355.0M | $968.0M | $487.0M | $1.2B |
| YoY | — | — | — | — | +10.9% | +12.3% | +2.1% | +4.6% |
| Pretax income | $192.0M | $721.0M | $321.0M | $1.0B | $296.0M | $890.0M | $378.0M | $1.2B |
| YoY | — | — | — | — | +54.2% | +23.4% | +17.8% | +18.8% |
| Income tax | $-10.0M | $133.0M | $11.0M | $242.0M | $50.0M | $202.0M | $81.0M | $303.0M |
| YoY | — | — | — | — | +600.0% | +51.9% | +636.4% | +25.2% |
| Net income | $202.0M | $588.0M | $310.0M | $791.0M | $246.0M | $688.0M | $297.0M | $924.0M |
| YoY | — | — | — | — | +21.8% | +17.0% | -4.2% | +16.8% |
| EPS — basic | $0.58 | $1.70 | — | $2.26 | $0.68 | $1.91 | — | $2.55 |
| YoY | — | — | — | — | +17.2% | +12.4% | — | +12.8% |
| EPS — diluted | $0.58 | $1.69 | — | $2.25 | $0.68 | $1.90 | — | $2.54 |
| YoY | — | — | — | — | +17.2% | +12.4% | — | +12.9% |
| Weighted shares — basic | 345.9M | 346.2M | — | 350.1M | 360.4M | 360.7M | — | 363.0M |
| Weighted shares — diluted | 347.1M | 347.5M | — | 351.3M | 361.7M | 361.9M | — | 364.4M |
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 | $1.5B | $93.0M | $1.3B | $360.0M | $1.5B | $181.0M | $1.6B | $147.0M |
| YoY | — | — | — | — | +0.4% | +94.6% | +23.0% | -59.2% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $2.4B | $2.6B | $2.4B | $2.7B | $2.4B | $2.3B | $2.6B | $2.8B |
| YoY | — | — | — | — | -1.3% | -8.6% | +5.9% | +2.4% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $6.5B | $6.1B | $6.7B | $6.1B | $6.0B | $5.5B | $6.8B | $6.3B |
| YoY | — | — | — | — | -6.7% | -10.2% | +1.3% | +2.5% |
| Total assets | $67.9B | $68.6B | $70.6B | $70.7B | $71.5B | $71.8B | $74.6B | $74.7B |
| YoY | — | — | — | — | +5.3% | +4.7% | +5.7% | +5.7% |
| Total current liabilities | $6.2B | $6.0B | $6.4B | $4.8B | $5.5B | $5.1B | $6.6B | $5.3B |
| YoY | — | — | — | — | -11.3% | -15.7% | +2.8% | +10.6% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $21.6B | $21.9B | $22.0B | $23.8B | $23.8B | $24.2B | $24.2B | $25.6B |
| YoY | — | — | — | — | +10.2% | +10.4% | +10.1% | +7.6% |
| Shares outstanding | — | — | 346.6M | — | — | — | 361.0M | — |
| YoY | — | — | — | — | — | — | +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.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.3B | $392.0M | $1.3B | $837.0M | $2.0B | $504.0M | $1.5B | $174.0M |
| YoY | — | — | — | — | +47.8% | +28.6% | +13.0% | -79.2% |
| 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 | 9.9% | 21.1% | 13.0% | 23.4% | 9.9% | 21.4% | 12.2% | 23.1% |
| Net margin | 6.3% | 14.4% | 8.4% | 16.5% | 6.8% | 15.2% | 7.4% | 18.1% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | -5.2% | 18.4% | 3.4% | 23.4% | 16.9% | 22.7% | 21.4% | 24.7% |
| Current ratio | 1.04x | 1.01x | 1.04x | 1.28x | 1.10x | 1.08x | 1.02x | 1.19x |
| 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.