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 | $19.6B | $20.8B | $23.2B | $24.9B | $27.4B |
| YoY | — | +5.7% | +11.8% | +7.3% | +10.3% |
| Cost of goods sold | $13.3B | $13.9B | $14.8B | $15.4B | $17.1B |
| YoY | — | +4.3% | +6.5% | +4.2% | +11.4% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $616.0M | $665.0M | $754.0M | $794.0M | $797.0M |
| YoY | — | +8.0% | +13.4% | +5.3% | +0.4% |
| Selling, general & administrative | $3.3B | $3.2B | $3.8B | $4.1B | $4.3B |
| YoY | — | -0.9% | +17.6% | +7.4% | +5.7% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $2.9B | $2.9B | $3.8B | $4.6B | $4.9B |
| YoY | — | +0.5% | +31.5% | +19.3% | +8.0% |
| Income tax | $750.0M | $445.0M | $604.0M | $768.0M | $841.0M |
| YoY | — | -40.7% | +35.7% | +27.2% | +9.5% |
| Net income | $2.1B | $2.5B | $3.2B | $3.8B | $4.1B |
| YoY | — | +14.8% | +30.7% | +17.9% | +7.7% |
| EPS — basic | $5.38 | $6.17 | $8.06 | $9.54 | $10.48 |
| YoY | — | +14.7% | +30.6% | +18.4% | +9.9% |
| EPS — diluted | $5.34 | $6.14 | $8.02 | $9.50 | $10.45 |
| YoY | — | +15.0% | +30.6% | +18.5% | +10.0% |
| Weighted shares — basic | 398.7M | 398.7M | 399.1M | 397.6M | 389.9M |
| Weighted shares — diluted | 401.6M | 400.8M | 401.1M | 399.4M | 391.2M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $297.0M | $294.0M | $488.0M | $555.0M | $622.0M |
| YoY | — | -1.0% | +66.0% | +13.7% | +12.1% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $3.3B | $4.1B | $4.5B | $4.6B | $5.4B |
| YoY | — | +23.6% | +9.8% | +3.2% | +16.6% |
| Inventory | $3.0B | $3.4B | $3.7B | $4.2B | $4.7B |
| YoY | — | +15.5% | +9.0% | +13.1% | +11.7% |
| Total current assets | $7.5B | $8.7B | $11.7B | $11.8B | $12.4B |
| YoY | — | +16.4% | +33.5% | +1.1% | +4.7% |
| Total assets | $34.0B | $35.0B | $38.4B | $38.4B | $41.3B |
| YoY | — | +2.9% | +9.8% | -0.1% | +7.5% |
| Total current liabilities | $7.2B | $6.4B | $7.7B | $7.9B | $9.4B |
| YoY | — | -11.8% | +21.8% | +1.4% | +19.3% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $16.4B | $17.0B | $19.0B | $18.5B | $19.4B |
| YoY | — | +3.8% | +11.7% | -2.9% | +5.1% |
| Shares outstanding | 398.8M | 397.8M | 399.4M | 392.9M | 387.9M |
| YoY | — | -0.3% | +0.4% | -1.6% | -1.3% |
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 | $2.2B | $2.5B | $3.6B | $4.3B | $4.5B |
| YoY | — | +17.1% | +43.1% | +19.4% | +3.4% |
| Capital expenditures | $575.0M | $598.0M | $757.0M | $808.0M | $919.0M |
| YoY | — | +4.0% | +26.6% | +6.7% | +13.7% |
| Free cash flow | $1.6B | $1.9B | $2.9B | $3.5B | $3.6B |
| YoY | — | +21.9% | +48.2% | +22.7% | +1.0% |
| Dividends paid | $1.2B | $1.3B | $1.4B | $1.5B | $1.6B |
| YoY | — | +6.6% | +6.2% | +8.8% | +8.4% |
| Share repurchases | $122.0M | $286.0M | $0 | $2.5B | $1.9B |
| YoY | — | +134.4% | -100.0% | — | -25.3% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 10.9% | 11.9% | 13.9% | 15.3% | 14.9% |
| Free cash flow margin | 8.1% | 9.3% | 12.4% | 14.1% | 12.9% |
| Effective tax rate | 25.9% | 15.3% | 15.8% | 16.8% | 17.1% |
| Current ratio | 1.04x | 1.38x | 1.51x | 1.50x | 1.32x |
| Total liabilities / equity | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Industrials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| ETN FY25 · this stock | $27.4B | +10.3% | — | — | 14.9% | 12.9% |
| FDX FY26 | $94.7B | +7.7% | — | 5.8% | 4.7% | — |
| BA FY25 | $89.5B | +34.5% | 4.8% | 4.8% | 2.5% | -2.1% |
| UPS FY25 | $88.7B | -2.6% | — | 8.9% | 6.3% | 5.4% |
| RTX FY25 | $88.6B | +9.7% | — | 10.5% | 7.6% | 9.0% |
| LMT FY25 | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| GD FY25 | $52.5B | +10.1% | — | 10.2% | 8.0% | 7.5% |
| UBER FY25 | $52.0B | +18.3% | — | 10.7% | 19.3% | 18.8% |
| GE FY25 | $45.9B | +18.5% | — | — | 19.0% | — |
| DE FY25 | $45.7B | -11.7% | — | — | 11.0% | 13.4% |
| CAT FY10 | $42.6B | +31.5% | — | 9.3% | — | — |
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.