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 | $18.6B | $18.0B | $18.2B | $18.6B | $20.3B | $18.0B | $20.1B | $20.7B |
| YoY | — | — | — | — | +9.1% | +0.3% | +10.5% | +11.3% |
| Cost of goods sold | $17.9B | $15.6B | $17.4B | $16.4B | $18.0B | $15.9B | $17.6B | $18.3B |
| YoY | — | — | — | — | +0.4% | +1.9% | +1.1% | +11.6% |
| Gross profit | $690.0M | $2.3B | $734.0M | $2.2B | $2.3B | $2.1B | $2.4B | $2.4B |
| YoY | — | — | — | — | +236.5% | -10.5% | +233.2% | +8.8% |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $696.0M | $2.4B | $748.0M | $2.3B | $2.3B | $2.1B | $2.5B | $2.4B |
| YoY | — | — | — | — | +234.9% | -13.0% | +231.4% | +7.1% |
| Pretax income | $519.0M | $2.0B | $417.0M | $1.9B | $1.5B | $1.8B | $2.2B | $2.2B |
| YoY | — | — | — | — | +195.0% | -12.9% | +422.3% | +12.1% |
| Income tax | $-8.0M | $324.0M | $75.0M | $319.0M | $187.0M | $286.0M | $342.0M | $327.0M |
| YoY | — | — | — | — | +2437.5% | -11.7% | +356.0% | +2.5% |
| Net income | $527.0M | $1.7B | $342.0M | $1.6B | $1.3B | $1.5B | $1.8B | $1.8B |
| YoY | — | — | — | — | +155.0% | -13.1% | +436.8% | +14.0% |
| EPS — basic | — | $7.30 | $1.46 | $6.98 | — | $6.47 | $7.98 | $8.00 |
| YoY | — | — | — | — | — | -11.4% | +446.6% | +14.6% |
| EPS — diluted | — | $7.28 | $1.46 | $6.95 | — | $6.44 | $7.94 | $7.97 |
| YoY | — | — | — | — | — | -11.5% | +443.8% | +14.7% |
| Weighted shares — basic | — | 234.4M | 233.5M | 231.9M | — | 229.9M | 230.2M | 230.5M |
| Weighted shares — diluted | — | 235.3M | 234.3M | 232.8M | — | 231.1M | 231.1M | 231.5M |
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 | $2.5B | $1.8B | $1.3B | $3.5B | $4.1B | $1.9B | $3.8B | $6.0B |
| YoY | — | — | — | — | +66.0% | +5.0% | +193.2% | +71.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $2.4B | $2.0B | $3.3B | $3.8B | $3.9B | $2.3B | $3.4B | $3.1B |
| YoY | — | — | — | — | +65.9% | +14.7% | +1.5% | -19.5% |
| Inventory | $3.5B | $3.6B | $3.7B | $3.7B | $3.5B | $4.3B | $4.4B | $4.0B |
| YoY | — | — | — | — | +1.4% | +18.1% | +19.2% | +6.3% |
| Total current assets | $21.8B | $22.8B | $24.0B | $25.9B | $25.4B | $25.1B | $28.4B | $31.0B |
| YoY | — | — | — | — | +16.1% | +10.0% | +18.4% | +19.5% |
| Total assets | $55.6B | $56.7B | $58.9B | $60.3B | $59.8B | $59.2B | $62.5B | $64.5B |
| YoY | — | — | — | — | +7.6% | +4.5% | +6.1% | +7.0% |
| Total current liabilities | $19.4B | $21.2B | $24.4B | $23.0B | $23.3B | $22.1B | $23.8B | $24.5B |
| YoY | — | — | — | — | +20.2% | +4.3% | -2.2% | +6.8% |
| Total liabilities | $49.3B | $50.0B | $53.5B | $54.1B | $53.1B | $51.7B | $53.7B | $54.4B |
| YoY | — | — | — | — | +7.8% | +3.5% | +0.3% | +0.7% |
| Total equity | $6.3B | $6.7B | $5.3B | $6.2B | $6.7B | $7.5B | $8.8B | $10.1B |
| YoY | — | — | — | — | +6.1% | +12.1% | +64.4% | +62.8% |
| Shares outstanding | 234.0M | — | — | — | 229.0M | — | — | — |
| YoY | — | — | — | — | -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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.0B | $1.4B | $201.0M | $3.7B | $3.2B | $220.0M | $3.2B | $3.4B |
| YoY | — | — | — | — | +214.7% | -84.4% | +1509.5% | -7.8% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $1.0B | $750.0M | $500.0M | $1.0B | $750.0M | $0 | $0 | $0 |
| YoY | — | — | — | — | -25.0% | -100.0% | -100.0% | -100.0% |
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 | 3.7% | 12.9% | 4.0% | 12.0% | 11.4% | 11.5% | 12.2% | 11.8% |
| Operating margin | 3.7% | 13.2% | 4.1% | 12.3% | 11.5% | 11.4% | 12.4% | 11.8% |
| Net margin | 2.8% | 9.5% | 1.9% | 8.7% | 6.6% | 8.3% | 9.2% | 8.9% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | -1.5% | 15.9% | 18.0% | 16.5% | 12.2% | 16.1% | 15.7% | 15.1% |
| Current ratio | 1.13x | 1.08x | 0.98x | 1.13x | 1.09x | 1.14x | 1.19x | 1.26x |
| Total liabilities / equity | 7.78x | 7.48x | 10.04x | 8.75x | 7.90x | 6.91x | 6.12x | 5.41x |
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.