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.
| FY19 | FY20 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $12.3B | $13.6B | $16.3B | $17.6B | $19.3B |
| YoY | — | +10.0% | — | +7.7% | +9.8% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $1.8B | $1.2B | $2.6B | $2.9B | $7.1B |
| YoY | — | -31.4% | — | +11.5% | +142.1% |
| Pretax income | $1.1B | $566.0M | $1.5B | $1.6B | $6.0B |
| YoY | — | -49.8% | — | +3.2% | +283.4% |
| Income tax | $-278.0M | $-305.0M | $108.0M | $17.0M | $1.3B |
| YoY | — | -9.7% | — | -84.3% | +7494.1% |
| Net income | $1.3B | $739.0M | $1.2B | $1.3B | $4.5B |
| YoY | — | -42.4% | — | +7.3% | +247.3% |
| EPS — basic | $3.78 | $1.98 | $3.12 | $3.33 | $11.58 |
| YoY | — | -47.6% | — | +6.7% | +247.7% |
| EPS — diluted | $3.77 | $1.98 | $3.11 | $3.31 | $11.55 |
| YoY | — | -47.5% | — | +6.4% | +248.9% |
| Weighted shares — basic | 340.0M | 373.0M | 383.0M | 386.0M | 385.0M |
| Weighted shares — diluted | 341.0M | 374.0M | 385.0M | 388.0M | 386.0M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY19 | FY20 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $68.0M | $87.0M | $345.0M | $193.0M | $158.0M |
| YoY | — | +27.9% | — | -44.1% | -18.1% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $788.0M | $1.1B | $2.0B | $2.2B | $1.5B |
| YoY | — | +43.4% | — | +7.6% | -32.5% |
| Inventory | $364.0M | $405.0M | $527.0M | $538.0M | $535.0M |
| YoY | — | +11.3% | — | +2.1% | -0.6% |
| Total current assets | $3.6B | $5.1B | $6.8B | $7.2B | $7.7B |
| YoY | — | +42.2% | — | +5.1% | +7.4% |
| Total assets | $64.4B | $69.4B | $81.8B | $85.6B | $94.0B |
| YoY | — | +7.8% | — | +4.7% | +9.9% |
| Total current liabilities | $5.5B | $10.3B | $8.6B | $8.4B | $10.5B |
| YoY | — | +86.1% | — | -1.8% | +24.8% |
| Total liabilities | $48.9B | $53.4B | $63.8B | $67.8B | $74.8B |
| YoY | — | +9.3% | — | +6.3% | +10.2% |
| Total equity | — | $14.0B | $15.5B | $15.6B | $17.6B |
| YoY | — | — | — | +0.4% | +12.9% |
| Shares outstanding | 362.0M | 378.9M | 383.9M | 384.8M | 384.8M |
| YoY | — | +4.7% | — | +0.2% | +0.0% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| FY19 | FY20 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $-307.0M | $1.3B | $3.4B | $5.0B | $5.8B |
| YoY | — | +511.4% | — | +47.4% | +15.7% |
| Capital expenditures | $4.9B | $5.5B | $5.4B | $5.7B | $6.5B |
| YoY | — | +12.4% | — | +4.8% | +14.2% |
| Free cash flow | $-5.2B | $-4.2B | $-2.0B | $-693.0M | $-715.0M |
| YoY | — | +18.6% | — | +66.1% | -3.2% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY19 | FY20 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 14.4% | 9.0% | 16.1% | 16.6% | 36.7% |
| Net margin | 10.4% | 5.4% | 7.3% | 7.3% | 23.1% |
| Free cash flow margin | -42.0% | -31.1% | -12.5% | -3.9% | -3.7% |
| Effective tax rate | -24.7% | -53.9% | 7.1% | 1.1% | 21.5% |
| Current ratio | 0.64x | 0.49x | 0.79x | 0.85x | 0.73x |
| Total liabilities / equity | — | 3.80x | 4.12x | 4.36x | 4.25x |
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 |
|---|---|---|---|---|---|---|
| EIX FY25 · this stock | $19.3B | +9.8% | — | 36.7% | 23.1% | -3.7% |
| 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% |
| 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% | — |
| 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.