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 | $660.3M | $659.1M | $674.5M | $681.4M | $688.2M | $685.2M | $734.1M | $747.5M |
| YoY | — | — | — | — | +4.2% | +4.0% | +8.8% | +9.7% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Net income | $95.3M | $143.1M | $165.7M | $140.9M | $136.7M | $144.6M | $160.5M | $218.8M |
| YoY | — | — | — | — | +43.4% | +1.0% | -3.1% | +55.3% |
| EPS — basic | $0.16 | — | $0.27 | $0.23 | $0.22 | — | $0.26 | $0.37 |
| YoY | — | — | — | — | +37.5% | — | -3.7% | +60.9% |
| EPS — diluted | $0.15 | — | $0.27 | $0.23 | $0.22 | — | $0.26 | $0.37 |
| YoY | — | — | — | — | +46.7% | — | -3.7% | +60.9% |
| Weighted shares — basic | 612.7M | — | 612.8M | 613.0M | 613.1M | — | 606.0M | 592.4M |
| Weighted shares — diluted | 613.6M | — | 613.4M | 613.3M | 613.1M | — | 606.2M | 592.5M |
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 | $1.0B | $174.5M | $84.4M | $65.1M | $155.4M | $130.0M | $114.1M | $75.8M |
| YoY | — | — | — | — | -84.9% | -25.5% | +35.2% | +16.4% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $19.6B | $18.7B | $18.6B | $18.7B | $18.8B | $18.7B | $18.7B | $18.4B |
| YoY | — | — | — | — | -4.3% | -0.1% | +0.7% | -1.1% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $9.7B | $8.9B | $8.8B | $9.0B | $9.1B | $9.1B | $9.6B | $9.4B |
| YoY | — | — | — | — | -5.8% | +2.3% | +8.5% | +4.5% |
| Total equity | $9.9B | $9.8B | $9.7B | $9.7B | $9.6B | $9.5B | $9.1B | $9.1B |
| YoY | — | — | — | — | -2.9% | -2.3% | -6.5% | -6.3% |
| Shares outstanding | 612.6M | 612.6M | 612.9M | 613.0M | 613.0M | 610.8M | 594.0M | 590.6M |
| YoY | — | — | — | — | +0.1% | -0.3% | -3.1% | -3.7% |
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 | $313.6M | $132.8M | $300.5M | $382.5M | $394.6M | $128.7M | $293.0M | $383.6M |
| YoY | — | — | — | — | +25.8% | -3.1% | -2.5% | +0.3% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | $171.7M | $172.6M | $178.2M | $178.6M | $178.0M | $178.0M | $184.5M | $179.3M |
| YoY | — | — | — | — | +3.7% | +3.1% | +3.5% | +0.4% |
| Share repurchases | — | — | $0 | $0 | — | $53.2M | $447.2M | $100.1M |
| 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 | — | — | — | — | — | — | — | — |
| Net margin | 14.4% | 21.7% | 24.6% | 20.7% | 19.9% | 21.1% | 21.9% | 29.3% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 0.98x | 0.91x | 0.91x | 0.93x | 0.95x | 0.96x | 1.05x | 1.03x |
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 |
|---|---|---|---|---|---|---|
| INVH FY25 · this stock | $2.7B | +4.2% | — | — | 21.5% | — |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| EQIX FY25 | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| 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% | — |
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.