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 | $67.0B | $66.0B | $67.6B | $71.0B | $75.0B |
| YoY | — | -1.6% | +2.4% | +5.1% | +5.6% |
| Cost of goods sold | $58.0B | $57.7B | $59.1B | $64.1B | $67.4B |
| YoY | — | -0.5% | +2.4% | +8.5% | +5.2% |
| Gross profit | $9.1B | $8.3B | $8.5B | $6.9B | $7.6B |
| YoY | — | -8.5% | +2.3% | -18.3% | +9.9% |
| Research & development | $1.5B | $1.7B | $1.5B | $1.6B | $2.0B |
| YoY | — | +13.3% | -11.8% | +6.7% | +25.0% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $9.1B | $8.3B | $8.5B | $7.0B | $7.7B |
| YoY | — | -8.5% | +1.9% | -17.6% | +10.2% |
| Pretax income | $7.5B | $6.7B | $8.1B | $6.2B | $5.9B |
| YoY | — | -11.5% | +21.2% | -23.2% | -4.8% |
| Income tax | $1.2B | $948.0M | $1.2B | $884.0M | $905.0M |
| YoY | — | -23.2% | +24.3% | -25.0% | +2.4% |
| Net income | $6.3B | $5.7B | $6.9B | $5.3B | $5.0B |
| YoY | — | -9.2% | +20.7% | -22.9% | -6.0% |
| EPS — basic | $22.85 | $21.74 | $27.65 | $22.39 | $21.56 |
| YoY | — | -4.9% | +27.2% | -19.0% | -3.7% |
| EPS — diluted | $22.76 | $21.66 | $27.55 | $22.31 | $21.49 |
| YoY | — | -4.8% | +27.2% | -19.0% | -3.7% |
| Weighted shares — basic | 276.4M | 263.7M | 250.3M | 238.3M | 232.7M |
| Weighted shares — diluted | 277.4M | 264.6M | 251.2M | 239.2M | 233.5M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $3.6B | $2.5B | $1.4B | $2.5B | $4.1B |
| YoY | — | -29.3% | -43.4% | +72.2% | +66.0% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $2.0B | $2.5B | $2.1B | $2.4B | $3.9B |
| YoY | — | +27.6% | -14.9% | +10.3% | +65.9% |
| Inventory | $3.0B | $3.1B | $3.1B | $3.5B | $3.5B |
| YoY | — | +3.6% | +1.4% | +10.9% | +1.4% |
| Total current assets | $19.8B | $21.0B | $20.5B | $21.8B | $25.4B |
| YoY | — | +5.9% | -2.2% | +6.5% | +16.1% |
| Total assets | $50.9B | $52.9B | $52.5B | $55.6B | $59.8B |
| YoY | — | +3.9% | -0.8% | +6.0% | +7.6% |
| Total current liabilities | $14.0B | $15.9B | $16.9B | $19.4B | $23.3B |
| YoY | — | +13.5% | +6.6% | +14.7% | +20.2% |
| Total liabilities | $39.9B | $43.6B | $45.6B | $49.3B | $53.1B |
| YoY | — | +9.3% | +4.6% | +8.0% | +7.8% |
| Total equity | $11.0B | $9.3B | $6.8B | $6.3B | $6.7B |
| YoY | — | -15.4% | -26.2% | -7.3% | +6.1% |
| Shares outstanding | 271.0M | 254.0M | 240.0M | 234.0M | 229.0M |
| YoY | — | -6.3% | -5.5% | -2.5% | -2.1% |
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 | $9.2B | $7.8B | $7.9B | $7.0B | $8.6B |
| YoY | — | -15.4% | +1.5% | -12.0% | +22.7% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $4.1B | $7.9B | $6.0B | $3.7B | $3.0B |
| YoY | — | +93.3% | -24.1% | -38.3% | -18.9% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 13.5% | 12.6% | 12.5% | 9.8% | 10.2% |
| Operating margin | 13.6% | 12.7% | 12.6% | 9.9% | 10.3% |
| Net margin | 9.4% | 8.7% | 10.2% | 7.5% | 6.7% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 16.4% | 14.2% | 14.5% | 14.2% | 15.3% |
| Current ratio | 1.42x | 1.32x | 1.21x | 1.13x | 1.09x |
| Total liabilities / equity | 3.64x | 4.71x | 6.67x | 7.78x | 7.90x |
Peer comparison — latest full year
Same sector (Industrials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| LMT FY25 · this stock | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| FDX FY26 | $94.7B | +7.7% | — | 5.8% | 4.7% | — |
| BA FY25 | $89.5B | +34.5% | 4.8% | 4.8% | 2.5% | -2.1% |
| UPS FY25 | $88.7B | -2.6% | — | 8.9% | 6.3% | 5.4% |
| RTX FY25 | $88.6B | +9.7% | — | 10.5% | 7.6% | 9.0% |
| GD FY25 | $52.5B | +10.1% | — | 10.2% | 8.0% | 7.5% |
| UBER FY25 | $52.0B | +18.3% | — | 10.7% | 19.3% | 18.8% |
| GE FY25 | $45.9B | +18.5% | — | — | 19.0% | — |
| DE FY25 | $45.7B | -11.7% | — | — | 11.0% | 13.4% |
| CAT FY10 | $42.6B | +31.5% | — | 9.3% | — | — |
| NOC FY25 | $42.0B | +2.2% | — | 10.8% | 10.0% | 7.9% |
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.