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 | $6.3B | $16.7B | $22.7B | $23.2B | $25.2B |
| YoY | — | +166.1% | +36.2% | +1.9% | +8.8% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $1.8B | $3.0B | $3.5B | $4.0B | $4.1B |
| YoY | — | +68.4% | +19.0% | +15.0% | +1.2% |
| Operating income | $-417.9M | $722.0M | $1.1B | $824.5M | $1.3B |
| YoY | — | +272.8% | +50.3% | -24.0% | +51.8% |
| Pretax income | $-611.3M | $490.5M | $913.3M | $739.4M | $1.0B |
| YoY | — | +180.2% | +86.2% | -19.0% | +39.4% |
| Income tax | $-2.5M | $115.9M | $209.5M | $-391.7M | $339.8M |
| YoY | — | +4736.0% | +80.8% | -287.0% | +186.8% |
| Net income | $-650.9M | $266.4M | $556.9M | $896.3M | $496.0M |
| YoY | — | +140.9% | +109.0% | +60.9% | -44.7% |
| EPS — basic | $-3.09 | $0.53 | $1.35 | $2.77 | $-0.24 |
| YoY | — | +117.2% | +154.7% | +105.2% | -108.7% |
| EPS — diluted | $-3.09 | $0.52 | $1.34 | $2.74 | $-0.24 |
| YoY | — | +116.8% | +157.7% | +104.5% | -108.8% |
| Weighted shares — basic | 217.2M | 224.8M | 228.6M | 230.1M | 231.8M |
| Weighted shares — diluted | 217.2M | 231.6M | 231.0M | 236.4M | 231.8M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $4.9B | $5.6B | $6.2B | $6.1B | $7.1B |
| YoY | — | +14.8% | +11.2% | -2.2% | +16.4% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.1B | $1.5B | $2.0B | $1.7B | $2.0B |
| YoY | — | +37.4% | +38.2% | -13.7% | +15.0% |
| Inventory | $33.8M | $38.7M | $45.1M | $50.1M | $56.6M |
| YoY | — | +14.5% | +16.5% | +11.1% | +13.0% |
| Total current assets | $6.7B | $8.2B | $9.5B | $9.3B | $11.0B |
| YoY | — | +22.1% | +16.8% | -2.6% | +18.1% |
| Total assets | $14.4B | $16.5B | $19.0B | $19.6B | $22.9B |
| YoY | — | +14.3% | +15.6% | +3.2% | +16.7% |
| Total current liabilities | $6.9B | $8.3B | $10.0B | $9.4B | $11.0B |
| YoY | — | +21.1% | +20.2% | -6.3% | +17.9% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $-582.7M | $-367.6M | $-52.3M | $173.3M | $271.0M |
| YoY | — | +36.9% | +85.8% | +431.4% | +56.4% |
| Shares outstanding | 224.7M | 231.3M | 233.3M | 234.4M | 235.4M |
| YoY | — | +2.9% | +0.9% | +0.5% | +0.4% |
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 | $1.8B | $1.8B | $1.4B | $1.7B | $1.4B |
| YoY | — | +3.1% | -25.7% | +26.6% | -19.1% |
| Capital expenditures | $152.7M | $347.2M | $438.6M | $646.6M | $1.1B |
| YoY | — | +127.4% | +26.3% | +47.4% | +64.2% |
| Free cash flow | $1.6B | $1.5B | $924.4M | $1.1B | $333.6M |
| YoY | — | -8.6% | -37.9% | +16.7% | -69.1% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | $0 | $0 | $23.5M |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | -6.7% | 4.3% | 4.8% | 3.6% | 5.0% |
| Net margin | -10.4% | 1.6% | 2.5% | 3.9% | 2.0% |
| Free cash flow margin | 26.0% | 8.9% | 4.1% | 4.7% | 1.3% |
| Effective tax rate | 0.4% | 23.6% | 22.9% | -53.0% | 33.0% |
| Current ratio | 0.97x | 0.98x | 0.95x | 0.99x | 1.00x |
| Total liabilities / equity | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Communication Services), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| LYV FY25 · this stock | $25.2B | +8.8% | — | 5.0% | 2.0% | 1.3% |
| GOOGL FY25 | $402.8B | +15.1% | — | 32.0% | 32.8% | 18.2% |
| META FY25 | $201.0B | +22.2% | — | 41.4% | 30.1% | 22.9% |
| VZ FY25 | $138.2B | +2.5% | — | 21.2% | 12.4% | — |
| T FY25 | $125.6B | +2.7% | — | 19.2% | 17.5% | — |
| DIS FY25 | $94.4B | +3.4% | — | 18.6% | 13.1% | — |
| TMUS FY25 | $88.3B | +8.5% | — | 20.7% | 12.4% | 20.4% |
| CHTR FY25 | $54.8B | -0.6% | — | 23.6% | 9.1% | 8.1% |
| NFLX FY25 | $45.2B | +15.9% | — | 29.5% | 24.3% | 20.9% |
| OMC FY25 | $17.3B | +10.1% | — | 2.6% | -0.3% | 16.1% |
| FOXA FY23 | $14.9B | +6.7% | — | — | — | 9.7% |
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.