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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $35.1B | $33.1B | $31.5B | $33.8B | $34.8B | $32.6B | $34.2B | $52.0B |
| YoY | — | — | — | — | -0.8% | -1.7% | +8.5% | +53.8% |
| Cost of goods sold | $32.1B | $30.6B | $29.4B | $30.0B | $31.2B | $28.9B | $31.3B | $43.1B |
| YoY | — | — | — | — | -2.9% | -5.6% | +6.5% | +43.4% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $815.0M | $804.0M | $783.0M | $867.0M | $863.0M | $836.0M | $867.0M | $894.0M |
| YoY | — | — | — | — | +5.9% | +4.0% | +10.7% | +3.1% |
| Operating income | $1.3B | $1.1B | $687.0M | $2.2B | $2.7B | $2.7B | $1.4B | $7.3B |
| YoY | — | — | — | — | +101.1% | +136.1% | +104.4% | +233.3% |
| Pretax income | $1.1B | $896.0M | $383.0M | $1.9B | $2.4B | $2.4B | $1.0B | $7.0B |
| YoY | — | — | — | — | +113.0% | +162.4% | +170.0% | +271.8% |
| Income tax | $113.0M | $111.0M | $37.0M | $268.0M | $460.0M | $372.0M | $183.0M | $1.4B |
| YoY | — | — | — | — | +307.1% | +235.1% | +394.6% | +438.8% |
| Net income | $622.0M | $371.0M | $-74.0M | $1.2B | $1.4B | $1.5B | $511.0M | $5.1B |
| YoY | — | — | — | — | +120.3% | +313.7% | +790.5% | +322.5% |
| EPS — basic | $1.88 | — | $-0.24 | $3.96 | $4.51 | — | $1.73 | $17.76 |
| YoY | — | — | — | — | +139.9% | — | +820.8% | +348.5% |
| EPS — diluted | $1.87 | — | $-0.24 | $3.96 | $4.51 | — | $1.73 | $17.73 |
| YoY | — | — | — | — | +141.2% | — | +820.8% | +347.7% |
| Weighted shares — basic | 331.0M | — | 313.0M | 307.0M | 303.0M | — | 295.0M | 289.0M |
| Weighted shares — diluted | 332.0M | — | 313.0M | 307.0M | 304.0M | — | 295.0M | 290.0M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.0B | $3.2B | $3.8B | $1.7B | $2.7B | $3.7B | $2.2B | $7.8B |
| YoY | — | — | — | — | -33.7% | +14.4% | -43.6% | +364.3% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $10.2B | $11.1B | $12.1B | $11.1B | $10.5B | $10.3B | $14.6B | $15.7B |
| YoY | — | — | — | — | +3.0% | -7.4% | +20.8% | +41.4% |
| Inventory | $9.9B | $9.6B | $10.5B | $10.1B | $9.8B | $10.1B | $10.8B | $10.0B |
| YoY | — | — | — | — | -0.6% | +5.9% | +2.6% | -1.3% |
| Total current assets | $25.9B | $24.4B | $27.1B | $23.7B | $24.6B | $24.8B | $28.7B | $34.3B |
| YoY | — | — | — | — | -5.1% | +1.4% | +5.7% | +44.5% |
| Total assets | $79.8B | $78.9B | $81.6B | $78.5B | $83.2B | $84.0B | $88.2B | $94.3B |
| YoY | — | — | — | — | +4.3% | +6.5% | +8.0% | +20.2% |
| Total current liabilities | $21.1B | $20.8B | $22.7B | $19.3B | $18.7B | $19.7B | $24.4B | $27.4B |
| YoY | — | — | — | — | -11.1% | -5.5% | +7.4% | +42.4% |
| Total liabilities | $54.1B | $54.4B | $58.6B | $55.2B | $59.4B | $59.9B | $64.8B | $68.6B |
| YoY | — | — | — | — | +9.7% | +10.2% | +10.6% | +24.2% |
| Total equity | $18.9B | $17.7B | $16.4B | $16.6B | $17.1B | $17.3B | $16.8B | $19.1B |
| YoY | — | — | — | — | -9.7% | -2.4% | +2.2% | +14.8% |
| Shares outstanding | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.7B | $2.2B | $-64.0M | $2.6B | $2.6B | $3.1B | $1.1B | $10.3B |
| YoY | — | — | — | — | +54.9% | +39.1% | +1851.6% | +291.3% |
| Capital expenditures | $651.0M | $810.0M | $663.0M | $695.0M | $947.0M | $1.2B | $913.0M | $1.2B |
| YoY | — | — | — | — | +45.5% | +45.8% | +37.7% | +70.6% |
| Free cash flow | $1.0B | $1.4B | $-727.0M | $1.9B | $1.7B | $1.9B | $208.0M | $9.1B |
| YoY | — | — | — | — | +60.9% | +35.1% | +128.6% | +370.2% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $2.7B | $1.4B | $1.1B | $780.0M | $650.0M | $1.0B | $750.0M | $2.5B |
| YoY | — | — | — | — | -75.9% | -27.1% | -29.0% | +224.7% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | 3.8% | 3.4% | 2.2% | 6.5% | 7.8% | 8.3% | 4.1% | 14.1% |
| Net margin | 1.8% | 1.1% | -0.2% | 3.6% | 3.9% | 4.7% | 1.5% | 9.9% |
| Free cash flow margin | 2.9% | 4.2% | -2.3% | 5.8% | 4.8% | 5.8% | 0.6% | 17.6% |
| Effective tax rate | 10.0% | 12.4% | 9.7% | 14.3% | 19.1% | 15.8% | 17.7% | 20.7% |
| Current ratio | 1.23x | 1.17x | 1.19x | 1.23x | 1.32x | 1.26x | 1.18x | 1.25x |
| Total liabilities / equity | 2.86x | 3.06x | 3.57x | 3.32x | 3.47x | 3.46x | 3.87x | 3.60x |
Peer comparison — latest full year
Same sector (Energy), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| MPC FY25 · this stock | $132.7B | -4.4% | — | 6.2% | 3.0% | 3.6% |
| XOM FY25 | $332.2B | -5.0% | — | — | 8.7% | 7.1% |
| CVX FY25 | $189.0B | -6.8% | — | — | 6.5% | — |
| PSX FY25 | $132.4B | -7.5% | — | — | 3.3% | — |
| COP FY25 | $58.9B | +7.7% | — | — | 13.6% | — |
| SLB FY25 | $35.7B | -1.6% | — | — | 9.4% | 13.4% |
| OKE FY25 | $33.6B | +55.0% | — | 17.1% | 10.1% | 7.3% |
| BKR FY25 | $27.7B | -0.3% | — | — | 9.3% | — |
| OXY FY23 | $23.2B | -36.8% | — | — | — | 28.6% |
| EOG FY25 | $22.6B | -4.5% | — | 28.2% | 22.0% | — |
| DVN FY25 | $17.2B | +7.8% | — | — | 15.4% | — |
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.