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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $45.4B | $48.9B | $49.8B | $50.7B | $49.7B | $50.2B | $50.5B | $51.4B |
| YoY | — | — | — | — | +9.5% | +2.6% | +1.4% | +1.4% |
| Cost of goods sold | $6.0B | $5.0B | $5.3B | $5.4B | $5.5B | $5.5B | $5.5B | $5.6B |
| YoY | — | — | — | — | -8.2% | +9.6% | +3.8% | +4.8% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $4.8B | $5.3B | $5.0B | $5.3B | $5.4B | $6.3B | $5.5B | $5.8B |
| YoY | — | — | — | — | +12.7% | +19.4% | +11.0% | +9.1% |
| Operating income | $673.0M | $3.2B | $2.4B | $1.3B | $309.0M | $2.1B | $1.8B | $1.3B |
| YoY | — | — | — | — | -54.1% | -34.2% | -27.3% | -2.0% |
| Pretax income | $606.0M | $2.8B | $2.3B | $1.4B | $215.0M | $2.3B | $1.9B | $1.8B |
| YoY | — | — | — | — | -64.5% | -17.6% | -15.5% | +27.6% |
| Income tax | $193.0M | $613.0M | $548.0M | $219.0M | $-331.0M | $544.0M | $483.0M | $451.0M |
| YoY | — | — | — | — | -271.5% | -11.3% | -11.9% | +105.9% |
| Net income | $418.0M | $2.2B | $1.7B | $1.2B | $547.0M | $1.8B | $1.5B | $1.4B |
| YoY | — | — | — | — | +30.9% | -19.2% | -16.1% | +14.8% |
| EPS — basic | — | $9.64 | $7.74 | $5.32 | — | $8.03 | $6.74 | $6.30 |
| YoY | — | — | — | — | — | -16.7% | -12.9% | +18.4% |
| EPS — diluted | — | $9.61 | $7.72 | $5.32 | — | $8.00 | $6.71 | $6.27 |
| YoY | — | — | — | — | — | -16.8% | -13.1% | +17.9% |
| Weighted shares — basic | — | 226.4M | 225.2M | 223.3M | — | 219.8M | 217.0M | 216.6M |
| Weighted shares — diluted | — | 227.2M | 225.8M | 223.7M | — | 220.4M | 217.9M | 217.6M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $8.3B | $7.5B | $8.6B | $8.7B | $9.5B | $9.7B | $10.2B | $10.3B |
| YoY | — | — | — | — | +14.5% | +28.8% | +19.5% | +18.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $58.9B | $61.1B | $63.3B | $63.8B | $63.0B | $67.0B | $67.2B | $68.5B |
| YoY | — | — | — | — | +6.9% | +9.7% | +6.1% | +7.4% |
| Total assets | $116.9B | $119.7B | $121.9B | $122.7B | $121.5B | $125.8B | $126.4B | $127.8B |
| YoY | — | — | — | — | +3.9% | +5.1% | +3.7% | +4.1% |
| Total current liabilities | $40.6B | $42.7B | $43.8B | $40.9B | $41.0B | $45.3B | $44.3B | $46.7B |
| YoY | — | — | — | — | +1.1% | +6.1% | +1.0% | +14.1% |
| Total liabilities | $75.5B | $77.1B | $78.1B | $78.7B | $77.5B | $81.8B | $81.4B | $83.0B |
| YoY | — | — | — | — | +2.7% | +6.1% | +4.3% | +5.5% |
| Total equity | $41.3B | $42.5B | $43.7B | $44.0B | $43.9B | $43.9B | $44.9B | $44.7B |
| YoY | — | — | — | — | +6.2% | +3.3% | +2.7% | +1.7% |
| Shares outstanding | 227.5M | 225.6M | 224.8M | 222.0M | 220.7M | 217.4M | 216.8M | 216.1M |
| YoY | — | — | — | — | -3.0% | -3.6% | -3.6% | -2.7% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $706.0M | $1.0B | $2.1B | $1.1B | $84.0M | $4.3B | $1.9B | $1.3B |
| YoY | — | — | — | — | -88.1% | +326.0% | -6.9% | +11.6% |
| Capital expenditures | $322.0M | $196.0M | $267.0M | $360.0M | $293.0M | $235.0M | $287.0M | $267.0M |
| YoY | — | — | — | — | -9.0% | +19.9% | +7.5% | -25.8% |
| Free cash flow | $384.0M | $821.0M | $1.8B | $775.0M | $-209.0M | $4.1B | $1.6B | $1.0B |
| YoY | — | — | — | — | -154.4% | +399.0% | -9.0% | +29.0% |
| Dividends paid | $1.1B | $386.0M | $385.0M | $767.0M | $377.0M | $376.0M | $373.0M | $749.0M |
| YoY | — | — | — | — | -66.4% | -2.6% | -3.1% | -2.3% |
| Share repurchases | $1.8B | $880.0M | $378.0M | $876.0M | $471.0M | $1.1B | $234.0M | $330.0M |
| YoY | — | — | — | — | -74.0% | +27.7% | -38.1% | -62.3% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 1.5% | 6.5% | 4.9% | 2.6% | 0.6% | 4.2% | 3.5% | 2.5% |
| Net margin | 0.9% | 4.5% | 3.5% | 2.3% | 1.1% | 3.5% | 2.9% | 2.7% |
| Free cash flow margin | 0.8% | 1.7% | 3.6% | 1.5% | -0.4% | 8.2% | 3.2% | 1.9% |
| Effective tax rate | 31.8% | 21.9% | 23.9% | 15.6% | -154.0% | 23.6% | 24.9% | 25.1% |
| Current ratio | 1.45x | 1.43x | 1.44x | 1.56x | 1.54x | 1.48x | 1.52x | 1.47x |
| Total liabilities / equity | 1.83x | 1.81x | 1.79x | 1.79x | 1.77x | 1.86x | 1.81x | 1.86x |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| ELV FY25 · this stock | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
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.