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 | $2.4B | $2.3B | $2.4B | $2.5B | $2.9B | $2.8B | $2.9B | $3.0B |
| YoY | — | — | — | — | +18.8% | +23.0% | +18.5% | +21.7% |
| Cost of goods sold | $771.3M | $795.7M | $822.1M | $842.7M | $961.9M | $940.3M | $931.9M | $964.4M |
| YoY | — | — | — | — | +24.7% | +18.2% | +13.4% | +14.4% |
| Gross profit | $1.6B | $1.5B | $1.6B | $1.7B | $1.9B | $1.8B | $2.0B | $2.1B |
| YoY | — | — | — | — | +16.0% | +25.6% | +21.2% | +25.4% |
| Research & development | $294.7M | $316.2M | $313.3M | $329.4M | $352.9M | $361.9M | $370.6M | $408.3M |
| YoY | — | — | — | — | +19.7% | +14.5% | +18.3% | +24.0% |
| Selling, general & administrative | $612.6M | $563.4M | $561.2M | $573.3M | $687.1M | $613.3M | $617.9M | $633.4M |
| YoY | — | — | — | — | +12.2% | +8.9% | +10.1% | +10.5% |
| Operating income | $734.9M | $578.1M | $743.4M | $759.7M | $864.3M | $855.3M | $971.9M | $592.6M |
| YoY | — | — | — | — | +17.6% | +48.0% | +30.7% | -22.0% |
| Pretax income | $809.8M | $668.5M | $832.1M | $855.2M | $955.6M | $940.4M | $1.1B | $668.4M |
| YoY | — | — | — | — | +18.0% | +40.7% | +26.7% | -21.8% |
| Income tax | $121.8M | $-35.2M | $167.9M | $146.0M | $156.1M | $114.4M | $231.4M | $144.0M |
| YoY | — | — | — | — | +28.2% | +425.0% | +37.8% | -1.4% |
| Net income | $685.7M | $698.4M | $658.4M | $704.4M | $794.8M | $821.5M | $818.1M | $522.8M |
| YoY | — | — | — | — | +15.9% | +17.6% | +24.3% | -25.8% |
| EPS — basic | — | $1.95 | $1.84 | $1.98 | — | $2.31 | $2.31 | $1.50 |
| YoY | — | — | — | — | — | +18.5% | +25.5% | -24.2% |
| EPS — diluted | — | $1.92 | $1.81 | $1.95 | — | $2.28 | $2.29 | $1.49 |
| YoY | — | — | — | — | — | +18.7% | +26.5% | -23.6% |
| Weighted shares — basic | — | 357.5M | 358.5M | 356.6M | — | 354.9M | 354.1M | 349.0M |
| Weighted shares — diluted | — | 364.6M | 364.1M | 361.8M | — | 359.8M | 357.3M | 351.6M |
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 | $2.0B | $2.6B | $3.4B | $2.8B | $3.4B | $2.0B | $2.8B | $3.0B |
| YoY | — | — | — | — | +66.1% | -22.0% | -18.9% | +6.1% |
| Marketable securities (current) | $2.0B | $1.9B | $1.9B | $2.1B | $2.6B | $2.5B | $2.5B | $1.1B |
| YoY | — | — | — | — | +29.3% | +29.6% | +27.7% | -49.4% |
| Accounts receivable | $1.2B | $1.2B | $1.3B | $1.3B | $1.5B | $1.6B | $1.7B | $1.7B |
| YoY | — | — | — | — | +24.6% | +30.6% | +31.8% | +36.6% |
| Inventory | $1.5B | $1.6B | $1.7B | $1.8B | $1.8B | $1.9B | $2.0B | $2.1B |
| YoY | — | — | — | — | +23.7% | +25.2% | +21.7% | +19.4% |
| Total current assets | $7.1B | $7.7B | $8.7B | $8.5B | $9.8B | $8.8B | $9.5B | $8.4B |
| YoY | — | — | — | — | +37.5% | +15.0% | +9.1% | -1.1% |
| Total assets | $18.7B | $19.2B | $20.2B | $19.4B | $20.5B | $20.1B | $20.9B | $19.3B |
| YoY | — | — | — | — | +9.2% | +4.6% | +3.5% | -0.0% |
| Total current liabilities | $1.7B | $1.5B | $1.7B | $1.8B | $2.0B | $1.9B | $1.9B | $2.5B |
| YoY | — | — | — | — | +14.9% | +24.2% | +13.6% | +40.5% |
| Total liabilities | $2.2B | $2.0B | $2.2B | $2.3B | $2.5B | $2.5B | $2.6B | $3.2B |
| YoY | — | — | — | — | +13.7% | +24.9% | +16.7% | +39.9% |
| Total equity | $16.4B | $17.1B | $17.8B | $16.9B | $17.8B | $17.5B | $18.2B | $16.0B |
| YoY | — | — | — | — | +8.5% | +2.2% | +1.8% | -5.6% |
| Shares outstanding | 356.6M | 358.4M | 358.4M | 354.9M | 355.1M | 354.4M | 353.9M | 346.6M |
| YoY | — | — | — | — | -0.4% | -1.1% | -1.3% | -2.3% |
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 | $822.6M | $581.6M | $715.4M | $841.0M | $892.5M | $911.9M | $1.1B | $1.2B |
| YoY | — | — | — | — | +8.5% | +56.8% | +48.3% | +45.6% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $0 | $0 | $181.0M | $1.9B | $201.0M | $1.1B | $320.3M | $3.0B |
| YoY | — | — | — | — | — | — | +77.0% | +55.5% |
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 | 68.0% | 64.7% | 66.3% | 66.4% | 66.4% | 66.1% | 67.8% | 68.4% |
| Operating margin | 30.4% | 25.7% | 30.5% | 30.3% | 30.2% | 30.9% | 33.6% | 19.4% |
| Net margin | 28.4% | 31.0% | 27.0% | 28.1% | 27.7% | 29.6% | 28.3% | 17.1% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 15.0% | -5.3% | 20.2% | 17.1% | 16.3% | 12.2% | 21.9% | 21.5% |
| Current ratio | 4.07x | 4.98x | 5.17x | 4.73x | 4.87x | 4.61x | 4.96x | 3.33x |
| Total liabilities / equity | 0.13x | 0.12x | 0.12x | 0.14x | 0.14x | 0.14x | 0.14x | 0.20x |
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 |
|---|---|---|---|---|---|---|
| ISRG FY25 · this stock | $10.1B | +20.5% | 66.0% | 29.3% | 28.4% | — |
| 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.