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.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $546.4M | $551.1M | $549.8M | $549.3M | $549.9M | $554.4M | $555.6M | $553.7M |
| YoY | — | — | — | — | +0.6% | +0.6% | +1.1% | +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 | $1.0M | $700K | $1.8M | $1.0M | $600K | $1.8M | $1.2M | $5.5M |
| YoY | — | — | — | — | -40.0% | +157.1% | -33.3% | +450.0% |
| Net income | $102.0M | $115.2M | $166.6M | $181.7M | $108.1M | $99.5M | $57.6M | $124.4M |
| YoY | — | — | — | — | +6.0% | -13.6% | -65.4% | -31.5% |
| EPS — basic | $0.86 | $0.98 | — | $1.55 | $0.92 | $0.84 | — | $1.06 |
| YoY | — | — | — | — | +7.0% | -14.3% | — | -31.6% |
| EPS — diluted | $0.86 | $0.98 | — | $1.54 | $0.92 | $0.84 | — | $1.06 |
| YoY | — | — | — | — | +7.0% | -14.3% | — | -31.2% |
| Weighted shares — basic | 116.8M | 116.8M | — | 116.8M | 117.0M | 117.0M | — | 116.6M |
| Weighted shares — diluted | 116.8M | 116.8M | — | 117.1M | 117.2M | 117.2M | — | 116.7M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $62.8M | $50.2M | $43.0M | $55.8M | $54.5M | $32.2M | $60.3M | $71.5M |
| YoY | — | — | — | — | -13.2% | -35.9% | +40.2% | +28.1% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $11.6B | $11.8B | $11.8B | $11.8B | $11.8B | $11.9B | $12.0B | $12.0B |
| YoY | — | — | — | — | +2.4% | +1.4% | +1.4% | +1.5% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $5.4B | $5.6B | $5.7B | $5.7B | $5.7B | $5.9B | $6.1B | $6.3B |
| YoY | — | — | — | — | +7.3% | +5.5% | +8.3% | +11.2% |
| Total equity | $6.0B | $5.9B | $5.9B | $5.9B | $5.9B | $5.8B | $5.7B | $5.5B |
| YoY | — | — | — | — | -1.9% | -2.2% | -4.7% | -6.9% |
| Shares outstanding | 116.9M | 116.9M | 116.9M | 116.9M | 117.1M | 117.1M | 116.9M | 116.4M |
| YoY | — | — | — | — | +0.2% | +0.2% | +0.0% | -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.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $349.4M | $309.5M | $239.1M | $196.6M | $353.4M | $266.4M | $261.7M | $149.6M |
| YoY | — | — | — | — | +1.1% | -13.9% | +9.5% | -23.9% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | $0 | — | — | $27.2M | $72.8M |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | 18.7% | 20.9% | 30.3% | 33.1% | 19.7% | 17.9% | 10.4% | 22.5% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 0.89x | 0.94x | 0.95x | 0.95x | 0.98x | 1.02x | 1.08x | 1.13x |
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.