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 | $27.3B | $27.3B | $27.1B | $28.8B | $29.4B |
| YoY | — | -0.1% | -0.6% | +6.0% | +2.4% |
| Cost of goods sold | $6.6B | $5.7B | $6.5B | $6.3B | $6.2B |
| YoY | — | -14.3% | +14.9% | -3.8% | -0.3% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $5.2B | $5.7B | $6.1B | $6.1B | $5.8B |
| YoY | — | +8.1% | +7.4% | +0.0% | -5.2% |
| Operating income | $9.9B | $7.3B | $7.6B | $1.7B | $10.0B |
| YoY | — | -26.1% | +3.8% | -78.1% | +503.0% |
| Pretax income | $8.3B | $5.8B | $6.9B | $690.0M | $9.8B |
| YoY | — | -29.8% | +18.0% | -89.9% | +1319.7% |
| Income tax | $2.1B | $1.2B | $1.2B | $211.0M | $1.3B |
| YoY | — | -39.9% | -0.1% | -83.1% | +509.5% |
| Net income | $6.2B | $4.6B | $5.7B | $480.0M | $8.5B |
| YoY | — | -26.2% | +23.4% | -91.5% | +1672.9% |
| EPS — basic | $4.96 | $3.66 | $4.54 | $0.38 | $6.84 |
| YoY | — | -26.2% | +24.0% | -91.6% | +1700.0% |
| EPS — diluted | $4.93 | $3.64 | $4.50 | $0.38 | $6.78 |
| YoY | — | -26.2% | +23.6% | -91.6% | +1684.2% |
| Weighted shares — basic | 1.26B | 1.25B | 1.25B | 1.25B | 1.24B |
| Weighted shares — diluted | 1.26B | 1.26B | 1.26B | 1.25B | 1.25B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Marketable securities (current) | $1.2B | $973.0M | $1.2B | $0 | $68.0M |
| YoY | — | -17.7% | +21.2% | -100.0% | — |
| Accounts receivable | $4.5B | $4.8B | $4.7B | $4.4B | $4.9B |
| YoY | — | +6.3% | -2.4% | -5.2% | +11.2% |
| Inventory | $1.6B | $1.5B | $1.8B | $1.7B | $1.8B |
| YoY | — | -6.9% | +18.6% | -4.3% | +3.7% |
| Total current assets | $14.8B | $14.4B | $16.1B | $19.2B | $18.3B |
| YoY | — | -2.2% | +11.4% | +19.2% | -4.3% |
| Total assets | $68.0B | $63.2B | $62.1B | $59.0B | $59.0B |
| YoY | — | -7.0% | -1.7% | -5.0% | +0.0% |
| Total current liabilities | $11.6B | $11.2B | $11.3B | $12.0B | $11.8B |
| YoY | — | -3.2% | +0.4% | +6.4% | -1.6% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $21.1B | $21.2B | $22.8B | $19.3B | $22.7B |
| YoY | — | +0.8% | +7.5% | -15.3% | +17.4% |
| Shares outstanding | 1.25B | 1.25B | 1.25B | 1.25B | 1.24B |
| YoY | — | -0.6% | -0.1% | +0.0% | -0.4% |
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 | $11.4B | $9.1B | $8.0B | $10.8B | $10.0B |
| YoY | — | -20.3% | -11.8% | +35.2% | -7.5% |
| Capital expenditures | $579.0M | $728.0M | $585.0M | $523.0M | $563.0M |
| YoY | — | +25.7% | -19.6% | -10.6% | +7.6% |
| Free cash flow | $10.8B | $8.3B | $7.4B | $10.3B | $9.5B |
| YoY | — | -22.8% | -11.1% | +38.9% | -8.2% |
| Dividends paid | $3.6B | $3.7B | $3.8B | $3.9B | $4.0B |
| YoY | — | +2.9% | +2.7% | +2.9% | +2.2% |
| Share repurchases | $546.0M | $1.4B | $1.0B | $1.1B | $1.9B |
| YoY | — | +155.7% | -28.4% | +15.0% | +67.1% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 36.3% | 26.9% | 28.0% | 5.8% | 34.0% |
| Net margin | 22.8% | 16.8% | 20.9% | 1.7% | 28.9% |
| Free cash flow margin | 39.6% | 30.6% | 27.4% | 35.8% | 32.1% |
| Effective tax rate | 25.1% | 21.5% | 18.2% | 30.6% | 13.1% |
| Current ratio | 1.27x | 1.29x | 1.43x | 1.60x | 1.55x |
| Total liabilities / equity | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| GILD FY25 · this stock | $29.4B | +2.4% | — | 34.0% | 28.9% | 32.1% |
| 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% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| 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% |
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.