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 | $8.4B | $8.3B | $8.1B | $8.5B | $8.6B | $8.8B | $8.8B | $9.3B |
| YoY | — | — | — | — | +3.1% | +5.8% | +8.2% | +9.3% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $37.0M | $39.0M | $38.0M | $38.0M | $36.0M | $35.0M | $38.0M | $37.0M |
| YoY | — | — | — | — | -2.7% | -10.3% | +0.0% | -2.6% |
| Selling, general & administrative | $823.0M | $814.0M | $786.0M | $870.0M | $897.0M | $880.0M | $893.0M | $891.0M |
| YoY | — | — | — | — | +9.0% | +8.1% | +13.6% | +2.4% |
| Operating income | $2.1B | $2.3B | $2.2B | $2.4B | $2.4B | $2.0B | $2.4B | $2.6B |
| YoY | — | — | — | — | +13.5% | -11.1% | +11.7% | +8.5% |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | $498.0M | $533.0M | $511.0M | $573.0M | $424.0M | $481.0M | $571.0M | $610.0M |
| YoY | — | — | — | — | -14.9% | -9.8% | +11.7% | +6.5% |
| Net income | $1.6B | $1.7B | $1.7B | $1.8B | $1.9B | $1.5B | $1.9B | $1.9B |
| YoY | — | — | — | — | +24.5% | -11.3% | +11.0% | +9.2% |
| EPS — basic | $3.24 | — | $3.53 | $3.75 | $4.11 | — | $4.00 | $4.17 |
| YoY | — | — | — | — | +26.9% | — | +13.3% | +11.2% |
| EPS — diluted | $3.22 | — | $3.51 | $3.73 | $4.09 | — | $3.98 | $4.15 |
| YoY | — | — | — | — | +27.0% | — | +13.4% | +11.3% |
| Weighted shares — basic | 477.7M | — | 473.3M | 470.9M | 468.8M | — | 464.1M | 462.5M |
| Weighted shares — diluted | 480.9M | — | 476.3M | 473.6M | 471.5M | — | 466.3M | 464.5M |
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 | $5.2B | $4.8B | $5.3B | $4.8B | $4.5B | $5.1B | $4.0B | $4.9B |
| YoY | — | — | — | — | -13.1% | +4.2% | -25.2% | +2.3% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $4.9B | $4.6B | $5.0B | $5.2B | $5.3B | $5.0B | $5.3B | $5.6B |
| YoY | — | — | — | — | +9.4% | +7.4% | +7.5% | +7.7% |
| Inventory | $2.1B | $1.9B | $2.0B | $2.1B | $2.1B | $2.1B | $2.1B | $2.1B |
| YoY | — | — | — | — | +2.0% | +5.6% | +4.8% | +0.0% |
| Total current assets | $13.5B | $12.9B | $13.6B | $13.6B | $13.3B | $13.3B | $12.8B | $14.2B |
| YoY | — | — | — | — | -1.0% | +2.9% | -6.2% | +4.0% |
| Total assets | $82.5B | $80.1B | $82.7B | $86.1B | $86.0B | $86.8B | $86.3B | $88.3B |
| YoY | — | — | — | — | +4.2% | +8.3% | +4.4% | +2.6% |
| Total current liabilities | $14.0B | $14.5B | $14.5B | $14.7B | $16.2B | $15.2B | $15.4B | $16.1B |
| YoY | — | — | — | — | +15.3% | +4.5% | +6.3% | +9.6% |
| Total liabilities | $41.9B | $40.7B | $43.2B | $46.1B | $45.9B | $47.1B | $46.2B | $47.7B |
| YoY | — | — | — | — | +9.5% | +15.8% | +6.9% | +3.5% |
| Total equity | $39.2B | $38.1B | $38.0B | $38.5B | $38.6B | $38.2B | $38.6B | $39.1B |
| YoY | — | — | — | — | -1.4% | +0.4% | +1.4% | +1.5% |
| 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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.7B | $2.8B | $2.2B | $2.2B | $2.9B | $3.0B | $2.2B | $2.3B |
| YoY | — | — | — | — | +7.9% | +7.9% | +3.7% | +2.7% |
| Capital expenditures | $1.1B | $1.2B | $1.3B | $1.3B | $1.3B | $1.5B | $1.3B | $1.4B |
| YoY | — | — | — | — | +19.7% | +16.6% | +5.7% | +14.4% |
| Free cash flow | $1.7B | $1.6B | $891.0M | $954.0M | $1.7B | $1.6B | $898.0M | $833.0M |
| YoY | — | — | — | — | +0.4% | +0.8% | +0.8% | -12.7% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $667.0M | $1.3B | $1.1B | $1.1B | $989.0M | $1.4B | $807.0M | $871.0M |
| YoY | — | — | — | — | +48.3% | +4.2% | -27.4% | -21.6% |
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 | 25.0% | 27.4% | 26.9% | 27.7% | 27.5% | 23.0% | 27.8% | 27.5% |
| Net margin | 18.5% | 20.8% | 20.6% | 20.8% | 22.4% | 17.5% | 21.1% | 20.8% |
| Free cash flow margin | 19.9% | 18.8% | 11.0% | 11.2% | 19.4% | 17.9% | 10.2% | 9.0% |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | 0.96x | 0.89x | 0.94x | 0.93x | 0.82x | 0.88x | 0.83x | 0.88x |
| Total liabilities / equity | 1.07x | 1.07x | 1.14x | 1.20x | 1.19x | 1.23x | 1.20x | 1.22x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| LIN FY25 · this stock | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| NEM FY25 | $22.7B | +21.3% | — | — | 31.3% | — |
| STLD FY25 | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
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.