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 | $26.0B | $25.1B | $24.5B | $24.0B | $23.3B |
| YoY | — | -3.5% | -2.4% | -1.9% | -3.1% |
| Cost of goods sold | $7.1B | $6.4B | $6.2B | $6.1B | $5.6B |
| YoY | — | -9.5% | -3.5% | -2.3% | -7.9% |
| Gross profit | $14.0B | $14.2B | $14.3B | $14.4B | $14.5B |
| YoY | — | +1.8% | +0.3% | +0.6% | +1.2% |
| Research & development | $145.0M | $162.0M | $220.0M | $208.0M | $195.0M |
| YoY | — | +11.7% | +35.8% | -5.5% | -6.2% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $11.6B | $11.9B | $11.5B | $11.2B | $9.9B |
| YoY | — | +3.1% | -3.1% | -2.7% | -11.9% |
| Pretax income | $3.8B | $7.4B | $10.9B | $13.7B | $9.4B |
| YoY | — | +93.2% | +47.9% | +25.0% | -31.3% |
| Income tax | $1.3B | $1.6B | $2.8B | $2.4B | $2.4B |
| YoY | — | +20.5% | +72.2% | -14.4% | +2.0% |
| Net income | $2.5B | $5.8B | $8.1B | $11.3B | $6.9B |
| YoY | — | +132.9% | +41.0% | +38.5% | -38.3% |
| EPS — basic | $1.34 | $3.19 | $4.57 | $6.54 | $4.12 |
| YoY | — | +138.1% | +43.3% | +43.1% | -37.0% |
| EPS — diluted | $1.34 | $3.19 | $4.57 | $6.54 | $4.12 |
| YoY | — | +138.1% | +43.3% | +43.1% | -37.0% |
| Weighted shares — basic | 1.84B | 1.80B | 1.78B | 1.72B | 1.68B |
| Weighted shares — diluted | 1.84B | 1.80B | 1.78B | 1.72B | 1.68B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $4.5B | $4.0B | $3.7B | $3.1B | $4.5B |
| YoY | — | -11.3% | -8.5% | -15.2% | +43.1% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $47.0M | $48.0M | $71.0M | $177.0M | $263.0M |
| YoY | — | +2.1% | +47.9% | +149.3% | +48.6% |
| Inventory | $1.2B | $1.2B | $1.2B | $1.1B | $1.1B |
| YoY | — | -1.2% | +3.0% | -11.1% | -0.9% |
| Total current assets | $6.1B | $7.2B | $5.6B | $4.5B | $5.9B |
| YoY | — | +18.7% | -22.6% | -19.2% | +31.4% |
| Total assets | $39.5B | $37.0B | $38.6B | $35.2B | $35.0B |
| YoY | — | -6.5% | +4.4% | -8.8% | -0.5% |
| Total current liabilities | $8.6B | $8.6B | $11.3B | $8.8B | $9.2B |
| YoY | — | +0.4% | +31.4% | -22.4% | +4.2% |
| Total liabilities | $41.1B | $40.9B | $42.1B | $37.4B | $38.5B |
| YoY | — | -0.6% | +2.9% | -11.2% | +3.0% |
| Total equity | $-1.6B | $-4.0B | $-3.5B | $-2.2B | $-3.5B |
| YoY | — | -147.4% | +10.9% | +36.8% | -56.5% |
| Shares outstanding | 1.82B | 1.79B | 1.76B | 1.69B | 1.67B |
| YoY | — | -2.1% | -1.2% | -4.1% | -1.0% |
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 | $8.4B | $8.3B | $9.3B | $8.8B | $9.3B |
| YoY | — | -1.8% | +12.5% | -5.7% | +6.1% |
| Capital expenditures | $169.0M | $205.0M | $196.0M | $142.0M | $216.0M |
| YoY | — | +21.3% | -4.4% | -27.6% | +52.1% |
| Free cash flow | $8.2B | $8.1B | $9.1B | $8.6B | $9.1B |
| YoY | — | -2.2% | +12.9% | -5.3% | +5.4% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $1.7B | $1.8B | $1.0B | $3.4B | $1.0B |
| YoY | — | +9.0% | -45.2% | +240.0% | -70.6% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 53.8% | 56.8% | 58.3% | 59.8% | 62.5% |
| Operating margin | 44.4% | 47.5% | 47.2% | 46.8% | 42.5% |
| Net margin | 9.5% | 23.0% | 33.2% | 46.9% | 29.8% |
| Free cash flow margin | 31.7% | 32.1% | 37.1% | 35.9% | 39.0% |
| Effective tax rate | 35.3% | 22.0% | 25.6% | 17.5% | 26.0% |
| Current ratio | 0.71x | 0.84x | 0.49x | 0.51x | 0.65x |
| Total liabilities / equity | -25.61x | -10.29x | -11.88x | -16.70x | -10.98x |
Peer comparison — latest full year
Same sector (Consumer Staples), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| MO FY25 · this stock | $23.3B | -3.1% | 62.5% | 42.5% | 29.8% | 39.0% |
| WMT FY26 | $713.2B | +4.7% | — | 4.2% | 3.1% | 2.1% |
| COST FY26 | $303.2B | +10.1% | — | 3.9% | 3.0% | 3.1% |
| KR FY26 | $147.6B | +0.4% | — | 1.3% | 0.7% | — |
| PEP FY25 | $93.9B | +2.3% | 54.1% | 12.2% | 8.8% | — |
| PG FY26 | $87.0B | +3.3% | — | 22.7% | 18.4% | 17.4% |
| SYY FY26 | $84.6B | +3.9% | 18.5% | 3.7% | 2.1% | — |
| ADM FY25 | $80.3B | -6.2% | 6.3% | — | 1.3% | 5.2% |
| TSN FY25 | $54.4B | +2.1% | 6.5% | 2.0% | 0.9% | 2.2% |
| KO FY25 | $47.9B | +1.9% | 61.6% | 28.7% | 27.3% | 11.0% |
| PM FY25 | $40.6B | +7.3% | 67.1% | 36.6% | 27.9% | 26.2% |
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.