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 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $8.4B | $8.3B | $8.9B | $8.6B | $9.0B | $9.0B | $9.8B | $9.8B |
| YoY | — | — | — | — | +6.6% | +8.7% | +9.9% | +13.7% |
| Cost of goods sold | $2.9B | $2.8B | $3.1B | $3.0B | $3.1B | $3.3B | $3.4B | $3.4B |
| YoY | — | — | — | — | +3.9% | +17.3% | +8.0% | +13.8% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $2.8B | $2.7B | $2.7B | $2.8B | $3.0B | $3.0B | $3.1B | $3.2B |
| YoY | — | — | — | — | +7.5% | +8.8% | +12.4% | +14.0% |
| Operating income | $1.6B | $1.6B | $1.4B | $1.4B | $1.7B | $1.5B | $1.9B | $1.8B |
| YoY | — | — | — | — | +5.7% | -11.1% | +30.4% | +22.1% |
| Pretax income | $1.6B | $1.5B | $1.3B | $1.3B | $1.6B | $1.4B | $1.8B | $1.8B |
| YoY | — | — | — | — | +2.4% | -8.8% | +45.4% | +35.9% |
| Income tax | $281.0M | $237.0M | $199.0M | $255.0M | $215.0M | $254.0M | $575.0M | $289.0M |
| YoY | — | — | — | — | -23.5% | +7.2% | +188.9% | +13.3% |
| Net income | $1.3B | $1.3B | $1.1B | $1.0B | $1.4B | $1.1B | $1.2B | $1.5B |
| YoY | — | — | — | — | +8.2% | -11.7% | +17.8% | +41.3% |
| EPS — basic | $0.99 | $1.01 | — | $0.81 | $1.07 | $0.89 | — | $1.15 |
| YoY | — | — | — | — | +8.1% | -11.9% | — | +42.0% |
| EPS — diluted | $0.99 | $1.01 | — | $0.81 | $1.07 | $0.89 | — | $1.14 |
| YoY | — | — | — | — | +8.1% | -11.9% | — | +40.7% |
| Weighted shares — basic | 1.28B | 1.28B | — | 1.28B | 1.28B | 1.28B | — | 1.28B |
| Weighted shares — diluted | 1.29B | 1.29B | — | 1.29B | 1.29B | 1.29B | — | 1.29B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.4B | $1.2B | $2.2B | $1.3B | $1.3B | $1.1B | $1.9B | $1.7B |
| YoY | — | — | — | — | -8.0% | -7.5% | -12.1% | +32.8% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $6.3B | $6.1B | $6.5B | $6.3B | $6.4B | $6.4B | $6.6B | $6.4B |
| YoY | — | — | — | — | +2.1% | +4.0% | +2.0% | +1.5% |
| Inventory | $5.5B | $5.6B | $5.5B | $5.9B | $6.2B | $6.3B | $6.0B | $6.2B |
| YoY | — | — | — | — | +12.4% | +12.5% | +8.7% | +5.6% |
| Total current assets | $22.4B | $22.5B | $23.8B | $23.2B | $24.0B | $24.1B | $24.8B | $24.4B |
| YoY | — | — | — | — | +6.9% | +6.9% | +4.1% | +5.0% |
| Total assets | $90.0B | $90.0B | $91.7B | $91.0B | $91.3B | $91.5B | $93.0B | $93.3B |
| YoY | — | — | — | — | +1.4% | +1.7% | +1.5% | +2.6% |
| Total current liabilities | $12.2B | $11.8B | $12.9B | $11.5B | $9.9B | $9.5B | $11.7B | $11.8B |
| YoY | — | — | — | — | -18.5% | -19.8% | -9.5% | +2.3% |
| Total liabilities | $41.3B | $40.4B | $43.4B | $42.8B | $42.5B | $42.3B | $43.0B | $42.5B |
| YoY | — | — | — | — | +2.8% | +4.8% | -1.1% | -0.9% |
| Total equity | $48.5B | $49.4B | $48.0B | $47.9B | $48.7B | $49.0B | $49.5B | $50.2B |
| YoY | — | — | — | — | +0.3% | -0.8% | +3.0% | +4.9% |
| Shares outstanding | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B | 1.28B |
| YoY | — | — | — | — | -0.0% | +0.0% | -0.1% | -0.1% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $958.0M | $2.6B | $2.5B | $1.1B | $925.0M | $2.7B | $2.6B | $1.8B |
| YoY | — | — | — | — | -3.4% | +6.7% | +1.8% | +64.8% |
| Capital expenditures | $404.0M | $476.0M | $459.0M | $504.0M | $468.0M | $444.0M | $488.0M | $503.0M |
| YoY | — | — | — | — | +15.8% | -6.7% | +6.3% | -0.2% |
| Free cash flow | $554.0M | $2.1B | $2.1B | $584.0M | $457.0M | $2.3B | $2.1B | $1.3B |
| YoY | — | — | — | — | -17.5% | +9.7% | +0.8% | +120.9% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $288.0M | $181.0M | $274.0M | $123.0M | $372.0M | $105.0M | $435.0M | $267.0M |
| YoY | — | — | — | — | +29.2% | -42.0% | +58.8% | +117.1% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 19.0% | 19.9% | 16.1% | 16.8% | 18.8% | 16.2% | 19.1% | 18.1% |
| Net margin | 15.1% | 15.6% | 11.8% | 12.1% | 15.3% | 12.7% | 12.7% | 15.1% |
| Free cash flow margin | 6.6% | 25.3% | 23.2% | 6.8% | 5.1% | 25.5% | 21.3% | 13.2% |
| Effective tax rate | 18.0% | 15.4% | 15.8% | 19.6% | 13.5% | 18.1% | 31.4% | 16.3% |
| Current ratio | 1.84x | 1.90x | 1.85x | 2.01x | 2.42x | 2.54x | 2.13x | 2.07x |
| Total liabilities / equity | 0.85x | 0.82x | 0.90x | 0.89x | 0.87x | 0.86x | 0.87x | 0.85x |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| MDT FY26 · this stock | $36.4B | +8.4% | — | 17.8% | 13.2% | 14.9% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
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.