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 | $2.0B | $2.2B | $3.7B | $3.0B | $3.3B | $4.4B | $3.0B | $3.3B |
| YoY | — | — | — | — | +63.5% | +100.2% | -19.8% | +10.8% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $-386.0M | $-268.0M | $1.3B | $725.0M | $745.0M | $1.5B | $661.0M | $640.0M |
| YoY | — | — | — | — | +293.0% | +671.3% | -47.9% | -11.7% |
| Pretax income | $-421.0M | $-319.0M | $1.2B | $686.0M | $687.0M | $1.5B | $672.0M | $608.0M |
| YoY | — | — | — | — | +263.2% | +566.8% | -45.3% | -11.4% |
| Income tax | $-22.0M | $-70.0M | $260.0M | $139.0M | $134.0M | $330.0M | $150.0M | $89.0M |
| YoY | — | — | — | — | +709.1% | +571.4% | -42.3% | -36.0% |
| Net income | $-399.0M | $-249.0M | $968.0M | $547.0M | $553.0M | $1.2B | $522.0M | $519.0M |
| YoY | — | — | — | — | +238.6% | +565.5% | -46.1% | -5.1% |
| EPS — basic | — | $-1.06 | $4.07 | $2.30 | — | $4.83 | $2.19 | $2.24 |
| YoY | — | — | — | — | — | +555.7% | -46.2% | -2.6% |
| EPS — diluted | — | $-1.06 | $4.02 | $2.28 | — | $4.81 | $2.19 | $2.24 |
| YoY | — | — | — | — | — | +553.8% | -45.5% | -1.8% |
| Weighted shares — basic | — | 234.4M | 238.0M | 238.2M | — | 239.9M | 238.2M | 231.6M |
| Weighted shares — diluted | — | 234.4M | 240.6M | 239.9M | — | 240.8M | 238.4M | 231.7M |
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 | $317.0M | $349.0M | $731.0M | $613.0M | $616.0M | $2.2B | $663.0M | $118.0M |
| YoY | — | — | — | — | +94.3% | +536.1% | -9.3% | -80.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.2B | $1.4B | $1.1B | $1.0B | $1.6B | $1.3B | $1.1B | $1.4B |
| YoY | — | — | — | — | +30.4% | -5.2% | +2.2% | +35.4% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $2.0B | $2.1B | $2.3B | $2.2B | $2.9B | $4.4B | $2.8B | $3.1B |
| YoY | — | — | — | — | +46.0% | +107.6% | +25.1% | +38.2% |
| Total assets | $27.9B | $27.9B | $27.8B | $27.6B | $28.3B | $29.5B | $28.0B | $29.7B |
| YoY | — | — | — | — | +1.4% | +5.7% | +0.9% | +7.7% |
| Total current liabilities | $3.1B | $3.6B | $2.9B | $2.8B | $2.9B | $4.0B | $3.0B | $3.4B |
| YoY | — | — | — | — | -7.1% | +10.1% | +1.4% | +23.9% |
| Total liabilities | $10.3B | $10.7B | $9.8B | $9.5B | $9.7B | $10.0B | $8.6B | $10.2B |
| YoY | — | — | — | — | -6.0% | -7.1% | -12.3% | +8.3% |
| Total equity | $17.6B | $17.2B | $17.9B | $18.1B | $18.6B | $19.5B | $19.4B | $19.5B |
| YoY | — | — | — | — | +5.8% | +13.7% | +8.2% | +7.4% |
| Shares outstanding | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
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 | $382.0M | $1.1B | $1.3B | $1.2B | $956.0M | $2.4B | $1.1B | $1.2B |
| YoY | — | — | — | — | +150.3% | +119.2% | -17.1% | -2.0% |
| Capital expenditures | $536.0M | $563.0M | $657.0M | $775.0M | $741.0M | $707.0M | $753.0M | $838.0M |
| YoY | — | — | — | — | +38.2% | +25.6% | +14.6% | +8.1% |
| Free cash flow | $-154.0M | $533.0M | $665.0M | $426.0M | $215.0M | $1.7B | $343.0M | $339.0M |
| YoY | — | — | — | — | +239.6% | +218.0% | -48.4% | -20.4% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $0 | $0 | $99.0M | $1.0M | $0 | $66.0M | $514.0M | $320.0M |
| YoY | — | — | — | — | — | — | +419.2% | +31900.0% |
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 | -19.3% | -12.2% | 34.4% | 24.4% | 22.8% | 34.8% | 22.3% | 19.5% |
| Net margin | -19.9% | -11.3% | 26.2% | 18.4% | 16.9% | 26.4% | 17.6% | 15.8% |
| Free cash flow margin | -7.7% | 24.3% | 18.0% | 14.4% | 6.6% | 38.5% | 11.6% | 10.3% |
| Effective tax rate | 5.2% | 21.9% | 21.2% | 20.3% | 19.5% | 22.2% | 22.3% | 14.6% |
| Current ratio | 0.64x | 0.59x | 0.78x | 0.81x | 1.01x | 1.11x | 0.96x | 0.90x |
| Total liabilities / equity | 0.59x | 0.62x | 0.55x | 0.52x | 0.52x | 0.51x | 0.44x | 0.53x |
Peer comparison — latest full year
Same sector (Energy), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| EXE FY25 · this stock | $12.1B | +186.3% | — | 20.4% | 15.0% | 15.2% |
| XOM FY25 | $332.2B | -5.0% | — | — | 8.7% | 7.1% |
| CVX FY25 | $189.0B | -6.8% | — | — | 6.5% | — |
| MPC FY25 | $132.7B | -4.4% | — | 6.2% | 3.0% | 3.6% |
| PSX FY25 | $132.4B | -7.5% | — | — | 3.3% | — |
| COP FY25 | $58.9B | +7.7% | — | — | 13.6% | — |
| SLB FY25 | $35.7B | -1.6% | — | — | 9.4% | 13.4% |
| OKE FY25 | $33.6B | +55.0% | — | 17.1% | 10.1% | 7.3% |
| BKR FY25 | $27.7B | -0.3% | — | — | 9.3% | — |
| OXY FY23 | $23.2B | -36.8% | — | — | — | 28.6% |
| EOG FY25 | $22.6B | -4.5% | — | 28.2% | 22.0% | — |
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.