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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.2B | $2.3B | $2.2B | $2.3B | $2.3B | $2.4B | $2.4B | $2.6B |
| YoY | — | — | — | — | +5.2% | +7.0% | +9.8% | +16.4% |
| Cost of goods sold | $1.1B | $1.2B | $1.1B | $1.1B | $1.1B | $1.2B | $1.2B | $1.2B |
| YoY | — | — | — | — | +4.0% | +0.2% | +9.4% | +13.5% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $671.0M | $660.0M | $667.0M | $672.0M | $689.0M | $715.0M | $685.0M | $701.0M |
| YoY | — | — | — | — | +2.7% | +8.3% | +2.7% | +4.3% |
| Operating income | $425.0M | $103.0M | $458.0M | $494.0M | $474.0M | $422.0M | $577.0M | $665.0M |
| YoY | — | — | — | — | +11.5% | +309.7% | +26.0% | +34.6% |
| Pretax income | $350.0M | $0 | $392.0M | $405.0M | $399.0M | $312.0M | $471.0M | $523.0M |
| YoY | — | — | — | — | +14.0% | — | +20.2% | +29.1% |
| Income tax | $54.0M | $14.0M | $49.0M | $38.0M | $25.0M | $48.0M | $56.0M | $46.0M |
| YoY | — | — | — | — | -53.7% | +242.9% | +14.3% | +21.1% |
| Net income | $297.0M | $-14.0M | $343.0M | $368.0M | $374.0M | $265.0M | $415.0M | $479.0M |
| YoY | — | — | — | — | +25.9% | +1992.9% | +21.0% | +30.2% |
| EPS — basic | $3.11 | — | $3.52 | $3.76 | $3.82 | — | $4.22 | $4.86 |
| YoY | — | — | — | — | +22.8% | — | +19.9% | +29.3% |
| EPS — diluted | $3.10 | — | $3.50 | $3.75 | $3.81 | — | $4.20 | $4.83 |
| YoY | — | — | — | — | +22.9% | — | +20.0% | +28.8% |
| Weighted shares — basic | 95.4M | — | 97.5M | 97.8M | 98.0M | — | 98.4M | 98.6M |
| Weighted shares — diluted | 95.7M | — | 97.9M | 98.0M | 98.2M | — | 98.7M | 99.1M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.8B | $3.1B | $3.0B | $3.7B | $2.1B | $1.7B | $1.4B | $979.0M |
| YoY | — | — | — | — | -25.2% | -43.9% | -53.8% | -73.3% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.1B | $949.0M | $1.1B | $1.1B | $1.1B | $1.0B | $1.1B | $1.3B |
| YoY | — | — | — | — | +1.9% | +5.5% | +1.7% | +10.5% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $5.1B | $5.4B | $5.5B | $6.5B | $5.0B | $5.1B | $5.3B | $4.3B |
| YoY | — | — | — | — | -1.8% | -5.9% | -2.9% | -34.0% |
| Total assets | $35.4B | $35.1B | $36.1B | $38.8B | $38.1B | $40.1B | $40.9B | $41.1B |
| YoY | — | — | — | — | +7.4% | +14.4% | +13.4% | +5.7% |
| Total current liabilities | $4.4B | $3.3B | $3.3B | $4.2B | $3.1B | $3.9B | $4.5B | $3.8B |
| YoY | — | — | — | — | -29.8% | +16.2% | +36.4% | -9.9% |
| Total liabilities | $21.8B | $21.5B | $22.2B | $24.7B | $23.9B | $26.0B | $26.6B | $26.7B |
| YoY | — | — | — | — | +9.4% | +20.6% | +19.9% | +7.8% |
| Total equity | $13.6B | $13.5B | $13.9B | $14.1B | $14.2B | $14.2B | $14.3B | $14.4B |
| YoY | — | — | — | — | +4.2% | +4.6% | +2.9% | +2.1% |
| Shares outstanding | 96.5M | 97.3M | 97.8M | 97.9M | 98.2M | 98.2M | 98.6M | 98.7M |
| YoY | — | — | — | — | +1.8% | +0.9% | +0.8% | +0.8% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $758.0M | $981.0M | $809.0M | $944.0M | $1.0B | $1.1B | $717.0M | $1.1B |
| YoY | — | — | — | — | +33.8% | +16.6% | -11.4% | +13.0% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | $413.0M | $413.0M | $468.0M | $460.0M | $467.0M | $461.0M | $519.0M | $510.0M |
| YoY | — | — | — | — | +13.1% | +11.6% | +10.9% | +10.9% |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 19.3% | 4.6% | 20.6% | 21.9% | 20.5% | 17.4% | 23.6% | 25.3% |
| Net margin | 13.5% | -0.6% | 15.4% | 16.3% | 16.1% | 11.0% | 17.0% | 18.2% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 15.4% | — | 12.5% | 9.4% | 6.3% | 15.4% | 11.9% | 8.8% |
| Current ratio | 1.16x | 1.63x | 1.65x | 1.54x | 1.62x | 1.32x | 1.18x | 1.13x |
| Total liabilities / equity | 1.61x | 1.59x | 1.60x | 1.76x | 1.69x | 1.83x | 1.86x | 1.85x |
Peer comparison — latest full year
Same sector (Real Estate), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| EQIX FY25 · this stock | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| AMT FY20 | $8.0B | +6.1% | — | 35.9% | — | 35.4% |
| SPG FY25 | $6.4B | +6.7% | — | 49.9% | — | — |
| DLR FY25 | $6.1B | +10.0% | — | 10.8% | 21.4% | — |
| O FY25 | $5.7B | +9.1% | — | — | 18.4% | — |
| PSA FY25 | $4.8B | +2.7% | — | — | 37.0% | — |
| CCI FY25 | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
| SBAC FY25 | $2.8B | +5.1% | 75.5% | 47.7% | 37.4% | 37.9% |
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.