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 | $30.8B | $33.4B | $32.9B | $33.0B | $34.0B |
| YoY | — | +8.3% | -1.5% | +0.5% | +3.0% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $143.0M | $143.0M | $146.0M | $150.0M | $147.0M |
| YoY | — | +0.0% | +2.1% | +2.7% | -2.0% |
| Selling, general & administrative | $3.2B | $3.1B | $3.3B | $3.3B | $3.4B |
| YoY | — | -2.6% | +6.1% | +1.3% | +2.9% |
| Operating income | $5.0B | $5.4B | $8.0B | $8.6B | $8.9B |
| YoY | — | +7.7% | +49.5% | +7.6% | +3.3% |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $1.3B | $1.4B | $1.8B | $2.0B | $2.0B |
| YoY | — | +13.6% | +26.5% | +10.4% | -0.6% |
| Net income | $3.8B | $4.1B | $6.2B | $6.6B | $6.9B |
| YoY | — | +8.4% | +49.5% | +5.9% | +5.1% |
| EPS — basic | $7.40 | $8.30 | $12.70 | $13.71 | $14.69 |
| YoY | — | +12.2% | +53.0% | +8.0% | +7.1% |
| EPS — diluted | $7.33 | $8.23 | $12.59 | $13.62 | $14.61 |
| YoY | — | +12.3% | +53.0% | +8.2% | +7.3% |
| Weighted shares — basic | 516.9M | 499.7M | 488.2M | 478.8M | 469.5M |
| Weighted shares — diluted | 521.9M | 504.0M | 492.3M | 482.1M | 472.2M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $2.8B | $5.4B | $4.7B | $4.8B | $5.1B |
| YoY | — | +92.6% | -14.2% | +4.0% | +4.2% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $4.5B | $4.6B | $4.7B | $4.6B | $5.0B |
| YoY | — | +1.3% | +3.5% | -2.0% | +7.4% |
| Inventory | $1.7B | $2.0B | $2.1B | $1.9B | $2.1B |
| YoY | — | +14.1% | +6.9% | -8.0% | +5.6% |
| Total current assets | $10.2B | $13.0B | $12.6B | $12.9B | $13.3B |
| YoY | — | +28.4% | -3.3% | +2.6% | +2.9% |
| Total assets | $81.6B | $79.7B | $80.8B | $80.1B | $86.8B |
| YoY | — | -2.4% | +1.4% | -0.8% | +8.3% |
| Total current liabilities | $13.6B | $16.5B | $15.7B | $14.5B | $15.2B |
| YoY | — | +20.8% | -4.6% | -7.5% | +4.5% |
| Total liabilities | $36.2B | $38.3B | $39.7B | $40.7B | $47.1B |
| YoY | — | +5.8% | +3.8% | +2.4% | +15.8% |
| Total equity | $44.0B | $40.0B | $39.7B | $38.1B | $38.2B |
| YoY | — | -9.1% | -0.8% | -4.1% | +0.4% |
| 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.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $9.7B | $8.9B | $9.3B | $9.4B | $10.3B |
| YoY | — | -8.9% | +5.0% | +1.3% | +9.8% |
| Capital expenditures | $3.1B | $3.2B | $3.8B | $4.5B | $5.3B |
| YoY | — | +2.8% | +19.4% | +18.7% | +17.0% |
| Free cash flow | $6.6B | $5.7B | $5.5B | $4.9B | $5.1B |
| YoY | — | -14.3% | -3.0% | -10.7% | +3.3% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $4.6B | $5.2B | $4.0B | $4.5B | $4.6B |
| YoY | — | +12.1% | -23.4% | +13.2% | +2.7% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 16.2% | 16.1% | 24.4% | 26.2% | 26.3% |
| Net margin | 12.4% | 12.4% | 18.9% | 19.9% | 20.3% |
| Free cash flow margin | 21.6% | 17.1% | 16.8% | 14.9% | 15.0% |
| Effective tax rate | — | — | — | — | — |
| Current ratio | 0.74x | 0.79x | 0.80x | 0.89x | 0.88x |
| Total liabilities / equity | 0.82x | 0.96x | 1.00x | 1.07x | 1.23x |
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.