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 | $6.0B | $6.0B | $6.3B | $6.5B | $6.1B | $6.0B | $6.5B | $6.6B |
| YoY | — | — | — | — | +2.0% | +1.3% | +2.5% | +1.0% |
| Cost of goods sold | $3.7B | $3.5B | $3.6B | $3.8B | $4.1B | $3.6B | $3.8B | $3.8B |
| YoY | — | — | — | — | +8.8% | +2.8% | +4.7% | +0.2% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $899.0M | $945.0M | $1.3B | $820.0M | $965.0M | $744.0M | $1.1B | $921.0M |
| YoY | — | — | — | — | +7.3% | -21.3% | -16.3% | +12.3% |
| Operating income | $1.1B | $1.2B | $1.1B | $1.4B | $796.0M | $1.4B | $984.0M | $1.6B |
| YoY | — | — | — | — | -26.6% | +12.1% | -13.7% | +7.7% |
| Pretax income | $759.0M | $1.4B | $923.0M | $1.1B | $758.0M | $878.0M | $1.1B | $1.7B |
| YoY | — | — | — | — | -0.1% | -36.6% | +21.3% | +45.6% |
| Income tax | $33.0M | $265.0M | $245.0M | $308.0M | $185.0M | $221.0M | $183.0M | $261.0M |
| YoY | — | — | — | — | +460.6% | -16.6% | -25.3% | -15.3% |
| Net income | $728.0M | $1.1B | $723.0M | $834.0M | $577.0M | $653.0M | $933.0M | $1.4B |
| YoY | — | — | — | — | -20.7% | -41.5% | +29.0% | +64.6% |
| EPS — basic | $1.34 | $2.05 | $1.35 | $1.56 | — | $1.23 | $1.79 | $2.65 |
| YoY | — | — | — | — | — | -40.0% | +32.6% | +69.9% |
| EPS — diluted | $1.33 | $2.04 | $1.34 | $1.55 | — | $1.23 | $1.78 | $2.63 |
| YoY | — | — | — | — | — | -39.7% | +32.8% | +69.7% |
| Weighted shares — basic | — | 543.8M | 537.4M | 534.1M | — | 529.1M | 519.7M | 518.8M |
| Weighted shares — diluted | — | 547.7M | 540.6M | 538.1M | — | 532.8M | 522.4M | 522.6M |
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 | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $3.2B | $3.5B | $3.8B | $3.8B | $3.5B | $3.8B | $3.9B | $4.1B |
| YoY | — | — | — | — | +10.6% | +7.2% | +4.4% | +9.0% |
| Inventory | $3.7B | $3.9B | $4.1B | $3.9B | $3.7B | $3.7B | $3.8B | $4.1B |
| YoY | — | — | — | — | -1.0% | -4.6% | -7.5% | +4.8% |
| Total current assets | $15.9B | $15.7B | $13.4B | $16.1B | $16.4B | $14.4B | $14.1B | $16.7B |
| YoY | — | — | — | — | +3.2% | -8.1% | +5.1% | +3.9% |
| Total assets | $39.9B | $40.0B | $38.0B | $37.6B | $37.7B | $35.4B | $34.9B | $39.5B |
| YoY | — | — | — | — | -5.4% | -11.3% | -8.1% | +5.1% |
| Total current liabilities | $11.3B | $9.5B | $7.8B | $8.7B | $9.6B | $9.0B | $11.4B | $11.9B |
| YoY | — | — | — | — | -14.8% | -4.4% | +45.7% | +35.9% |
| Total liabilities | $36.0B | $35.4B | $33.6B | $32.9B | $33.0B | $32.1B | $31.9B | $34.4B |
| YoY | — | — | — | — | -8.3% | -9.3% | -5.1% | +4.4% |
| Total equity | $3.8B | $4.5B | $4.3B | $4.6B | $4.7B | $3.3B | $3.0B | $4.1B |
| YoY | — | — | — | — | +22.4% | -26.9% | -31.2% | -10.8% |
| Shares outstanding | 539.5M | 538.2M | 532.6M | 531.2M | 530.3M | 521.6M | 515.7M | 516.7M |
| YoY | — | — | — | — | -1.7% | -3.1% | -3.2% | -2.7% |
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 | $1.8B | $-79.0M | $-954.0M | $1.8B | $1.6B | $574.0M | $986.0M | $486.0M |
| YoY | — | — | — | — | -12.9% | +826.6% | +203.4% | -72.3% |
| Capital expenditures | $291.0M | $236.0M | $208.0M | $218.0M | $248.0M | $225.0M | $223.0M | $256.0M |
| YoY | — | — | — | — | -14.8% | -4.7% | +7.2% | +17.4% |
| Free cash flow | $1.5B | $-315.0M | $-1.2B | $1.5B | $1.3B | $349.0M | $763.0M | $230.0M |
| YoY | — | — | — | — | -12.6% | +210.8% | +165.7% | -85.0% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $705.0M | $1.3B | $953.0M | $472.0M | $552.0M | $2.0B | $994.0M | $232.0M |
| YoY | — | — | — | — | -21.7% | +56.9% | +4.3% | -50.8% |
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 | — | — | — | — | — | — | — | — |
| Operating margin | 18.1% | 20.9% | 18.0% | 22.2% | 13.0% | 23.2% | 15.1% | 23.7% |
| Net margin | 12.1% | 18.7% | 11.4% | 12.8% | 9.4% | 10.8% | 14.4% | 20.9% |
| Free cash flow margin | 25.4% | -5.3% | -18.3% | 23.6% | 21.8% | 5.8% | 11.7% | 3.5% |
| Effective tax rate | 4.3% | 19.1% | 26.5% | 26.9% | 24.4% | 25.2% | 16.3% | 15.6% |
| Current ratio | 1.41x | 1.66x | 1.72x | 1.84x | 1.71x | 1.59x | 1.24x | 1.41x |
| Total liabilities / equity | 9.36x | 7.94x | 7.84x | 7.12x | 7.02x | 9.85x | 10.81x | 8.33x |
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 |
|---|---|---|---|---|---|---|
| MMM FY25 · this stock | $24.9B | +1.5% | — | 18.6% | 13.0% | 5.6% |
| 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% |
| LMT FY25 | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| 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% | — | — |
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.