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 | $34.4B | $35.5B | $33.0B | $34.7B | $37.4B |
| YoY | — | +3.1% | -6.9% | +5.2% | +7.8% |
| Cost of goods sold | $22.1B | $22.3B | $20.6B | $21.4B | $23.6B |
| YoY | — | +1.3% | -7.7% | +3.5% | +10.5% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $1.3B | $1.5B | $1.4B | $1.5B | $1.8B |
| YoY | — | +10.9% | -7.0% | +5.7% | +24.6% |
| Selling, general & administrative | $4.8B | $5.2B | $4.9B | $5.2B | $5.5B |
| YoY | — | +8.7% | -6.3% | +7.1% | +4.1% |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $7.2B | $6.4B | $6.2B | $6.2B | $5.5B |
| YoY | — | -11.8% | -2.9% | +0.9% | -12.3% |
| Income tax | $1.6B | $1.4B | $1.3B | $1.2B | $1.0B |
| YoY | — | -13.1% | -10.6% | -1.0% | -19.3% |
| Net income | $5.5B | $5.0B | $5.7B | $5.7B | $4.7B |
| YoY | — | -10.4% | +13.9% | +0.8% | -17.1% |
| EPS — basic | $8.01 | $7.33 | $8.53 | $8.76 | $7.40 |
| YoY | — | -8.5% | +16.4% | +2.7% | -15.5% |
| EPS — diluted | $7.91 | $7.27 | $8.47 | $8.71 | $7.36 |
| YoY | — | -8.1% | +16.5% | +2.8% | -15.5% |
| Weighted shares — basic | 692.3M | 677.1M | 663.0M | 650.9M | 639.0M |
| Weighted shares — diluted | 700.4M | 683.1M | 668.2M | 655.3M | 642.8M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $11.0B | $9.6B | $7.9B | $9.9B | $12.3B |
| YoY | — | -12.2% | -17.7% | +25.0% | +23.9% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $6.8B | $7.4B | $7.5B | $7.2B | $4.4B |
| YoY | — | +8.9% | +1.2% | -3.8% | -38.9% |
| Inventory | $5.1B | $5.5B | $6.2B | $5.9B | $1.7B |
| YoY | — | +7.8% | +11.6% | -4.8% | -71.5% |
| Total current assets | $25.4B | $25.0B | $23.5B | $27.9B | $30.4B |
| YoY | — | -1.5% | -5.9% | +18.7% | +8.9% |
| Total assets | $64.5B | $62.3B | $61.5B | $75.2B | $73.7B |
| YoY | — | -3.4% | -1.2% | +22.2% | -2.0% |
| Total current liabilities | $19.5B | $19.9B | $18.5B | $21.3B | $23.4B |
| YoY | — | +2.2% | -7.0% | +14.7% | +10.2% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $18.6B | $16.7B | $15.9B | $18.6B | $13.9B |
| YoY | — | -10.1% | -5.0% | +17.4% | -25.3% |
| Shares outstanding | 684.8M | 667.6M | 651.8M | 649.8M | 635.3M |
| YoY | — | -2.5% | -2.4% | -0.3% | -2.2% |
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 | $6.0B | $5.3B | $5.3B | $6.1B | $6.4B |
| YoY | — | -12.7% | +1.3% | +14.2% | +5.1% |
| Capital expenditures | $895.0M | $766.0M | $741.0M | $871.0M | $986.0M |
| YoY | — | -14.4% | -3.3% | +17.5% | +13.2% |
| Free cash flow | $5.1B | $4.5B | $4.6B | $5.2B | $5.4B |
| YoY | — | -12.3% | +2.0% | +13.6% | +3.8% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $3.4B | $4.2B | $3.7B | $1.7B | $3.8B |
| YoY | — | +24.3% | -11.5% | -55.5% | +129.8% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 16.1% | 14.0% | 17.1% | 16.4% | 12.6% |
| Free cash flow margin | 15.0% | 12.7% | 13.9% | 15.1% | 14.5% |
| Effective tax rate | 22.5% | 22.1% | 20.4% | 20.0% | 18.4% |
| Current ratio | 1.30x | 1.25x | 1.27x | 1.31x | 1.30x |
| 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 |
|---|---|---|---|---|---|---|
| HON FY25 · this stock | $37.4B | +7.8% | — | — | 12.6% | 14.5% |
| 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.