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 | $22.5B | $21.9B | $23.7B | $24.0B | $24.6B | $24.1B | $25.3B | $25.4B |
| YoY | — | — | — | — | +9.1% | +9.9% | +6.6% | +5.9% |
| Cost of goods sold | $7.1B | $7.4B | $7.6B | $7.3B | $8.0B | $8.1B | $8.1B | $8.1B |
| YoY | — | — | — | — | +11.8% | +10.2% | +5.5% | +10.9% |
| Gross profit | $15.4B | $14.5B | $16.1B | $16.7B | $16.6B | $16.0B | $17.3B | $17.3B |
| YoY | — | — | — | — | +7.8% | +9.8% | +7.1% | +3.7% |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $6.5B | $5.1B | $5.9B | $5.9B | $6.8B | $6.0B | $6.4B | $6.3B |
| YoY | — | — | — | — | +4.6% | +18.0% | +9.2% | +6.1% |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | $3.9B | $13.6B | $6.5B | $7.5B | $5.0B | $6.0B | $6.7B | $34.0M |
| YoY | — | — | — | — | +27.8% | -56.1% | +3.9% | -99.5% |
| Income tax | $456.0M | $2.6B | $954.0M | $2.3B | $-150.0M | $755.0M | $1.2B | $-176.0M |
| YoY | — | — | — | — | -132.9% | -71.3% | +27.1% | -107.5% |
| Net income | $3.4B | $11.0B | $5.5B | $5.2B | $5.1B | $5.2B | $5.5B | $210.0M |
| YoY | — | — | — | — | +49.1% | -52.4% | -0.1% | -95.9% |
| EPS — basic | — | $4.57 | $2.30 | $2.14 | — | $2.17 | $2.30 | $0.09 |
| YoY | — | — | — | — | — | -52.5% | +0.0% | -95.8% |
| EPS — diluted | — | $4.54 | $2.29 | $2.12 | — | $2.14 | $2.27 | $0.09 |
| YoY | — | — | — | — | — | -52.9% | -0.9% | -95.8% |
| Weighted shares — basic | — | 2.41B | 2.41B | 2.41B | — | 2.41B | 2.41B | 2.41B |
| Weighted shares — diluted | — | 2.42B | 2.42B | 2.43B | — | 2.45B | 2.44B | 2.45B |
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 | $24.1B | $38.5B | $18.6B | $18.2B | $19.7B | $21.7B | $20.4B | $16.9B |
| YoY | — | — | — | — | -18.2% | -43.6% | +9.9% | -7.2% |
| Marketable securities (current) | $417.0M | $307.0M | $303.0M | $331.0M | $393.0M | $363.0M | $336.0M | $318.0M |
| YoY | — | — | — | — | -5.8% | +18.2% | +10.9% | -3.9% |
| Accounts receivable | $14.8B | $16.0B | $17.8B | $17.6B | $17.2B | $17.7B | $19.0B | $19.0B |
| YoY | — | — | — | — | +15.7% | +10.6% | +6.7% | +7.8% |
| Inventory | $12.4B | $12.7B | $13.4B | $14.1B | $14.2B | $14.6B | $15.1B | $15.4B |
| YoY | — | — | — | — | +14.0% | +15.2% | +12.9% | +8.7% |
| Total current assets | $55.9B | $71.6B | $54.5B | $54.6B | $55.6B | $59.2B | $59.8B | $56.4B |
| YoY | — | — | — | — | -0.5% | -17.3% | +9.7% | +3.2% |
| Total assets | $180.1B | $193.7B | $193.4B | $192.8B | $199.2B | $200.9B | $201.1B | $197.4B |
| YoY | — | — | — | — | +10.6% | +3.7% | +4.0% | +2.4% |
| Total current liabilities | $50.3B | $56.9B | $54.2B | $50.9B | $54.1B | $57.7B | $54.9B | $55.5B |
| YoY | — | — | — | — | +7.6% | +1.4% | +1.3% | +9.0% |
| Total liabilities | $108.6B | $115.6B | $114.9B | $113.5B | $117.7B | $119.7B | $116.1B | $115.9B |
| YoY | — | — | — | — | +8.3% | +3.6% | +1.0% | +2.1% |
| Total equity | $71.5B | $78.1B | $78.5B | $79.3B | $81.5B | $81.2B | $85.0B | $81.5B |
| YoY | — | — | — | — | +14.1% | +3.9% | +8.3% | +2.8% |
| 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 | $7.0B | $4.2B | $3.9B | $9.2B | $7.3B | $2.5B | $8.6B | $7.7B |
| YoY | — | — | — | — | +4.7% | -39.8% | +122.2% | -15.8% |
| Capital expenditures | $1.6B | $795.0M | $1.0B | $1.2B | $1.8B | $1.0B | $1.3B | $1.4B |
| YoY | — | — | — | — | +14.0% | +31.9% | +26.7% | +17.7% |
| Free cash flow | $5.4B | $3.4B | $2.8B | $8.0B | $5.5B | $1.5B | $7.3B | $6.4B |
| YoY | — | — | — | — | +1.9% | -56.6% | +157.3% | -20.6% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $282.0M | $2.1B | $0 | $1.9B | $1.9B | $4.0B | $221.0M | $1.7B |
| YoY | — | — | — | — | +582.3% | +89.4% | — | -10.1% |
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 | 68.3% | 66.4% | 67.9% | 69.6% | 67.6% | 66.3% | 68.2% | 68.1% |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | 15.2% | 50.2% | 23.3% | 21.5% | 20.8% | 21.8% | 21.9% | 0.8% |
| Free cash flow margin | 23.8% | 15.4% | 11.9% | 33.4% | 22.3% | 6.1% | 28.8% | 25.0% |
| Effective tax rate | 11.7% | 19.3% | 14.7% | 31.2% | -3.0% | 12.6% | 18.0% | -517.6% |
| Current ratio | 1.11x | 1.26x | 1.01x | 1.07x | 1.03x | 1.03x | 1.09x | 1.02x |
| Total liabilities / equity | 1.52x | 1.48x | 1.46x | 1.43x | 1.44x | 1.47x | 1.37x | 1.42x |
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 |
|---|---|---|---|---|---|---|
| JNJ FY25 · this stock | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| 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% |
| 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% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
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.