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 | $1.8B | $2.0B | $2.1B | $2.2B | $2.2B |
| YoY | — | +13.6% | +6.4% | +2.0% | +0.8% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $13.6M | $-6.2M | $4.7M | $5.2M | $4.6M |
| YoY | — | -145.6% | +175.8% | +10.6% | -11.5% |
| Net income | $533.8M | $637.4M | $552.8M | $527.5M | $446.9M |
| YoY | — | +19.4% | -13.3% | -4.6% | -15.3% |
| EPS — basic | $4.62 | $5.49 | $4.71 | $4.49 | $3.79 |
| YoY | — | +18.8% | -14.2% | -4.7% | -15.6% |
| EPS — diluted | $4.61 | $5.48 | $4.71 | $4.49 | $3.78 |
| YoY | — | +18.9% | -14.1% | -4.7% | -15.8% |
| Weighted shares — basic | 114.7M | 115.3M | 116.5M | 116.8M | 117.0M |
| Weighted shares — diluted | 115.0M | 115.6M | 116.6M | 116.8M | 117.1M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $54.3M | $38.7M | $41.3M | $43.0M | $60.3M |
| YoY | — | -28.7% | +6.7% | +4.1% | +40.2% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total assets | $11.3B | $11.2B | $11.5B | $11.8B | $12.0B |
| YoY | — | -0.4% | +2.2% | +2.9% | +1.4% |
| Total current liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total liabilities | $5.1B | $5.0B | $5.2B | $5.7B | $6.1B |
| YoY | — | -1.4% | +3.1% | +9.2% | +8.3% |
| Total equity | $6.0B | $6.0B | $6.1B | $5.9B | $5.7B |
| YoY | — | +0.7% | +1.5% | -2.5% | -4.7% |
| Shares outstanding | 115.3M | 115.5M | 116.7M | 116.9M | 116.9M |
| YoY | — | +0.2% | +1.0% | +0.2% | +0.0% |
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 | $895.0M | $1.1B | $1.1B | $1.1B | $1.1B |
| YoY | — | +18.3% | +7.4% | -3.4% | -1.8% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | $0 | $0 | $27.2M |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 30.0% | 31.6% | 25.7% | 24.1% | 20.2% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — |
| Current ratio | — | — | — | — | — |
| Total liabilities / equity | 0.86x | 0.84x | 0.85x | 0.95x | 1.08x |
Peer comparison — latest full year
Same sector (Real Estate), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| MAA FY25 · this stock | $2.2B | +0.8% | — | — | 20.2% | — |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| EQIX FY25 | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| AMT FY20 | $8.0B | +6.1% | — | 35.9% | — | 35.4% |
| SPG FY25 | $6.4B | +6.7% | — | 49.9% | — | — |
| DLR FY25 | $6.1B | +10.0% | — | 10.8% | 21.4% | — |
| O FY25 | $5.7B | +9.1% | — | — | 18.4% | — |
| PSA FY25 | $4.8B | +2.7% | — | — | 37.0% | — |
| CCI FY25 | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
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.