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 | $12.2B | $11.9B | $11.8B | $18.7B | $22.7B |
| YoY | — | -2.5% | -0.9% | +58.2% | +21.3% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $154.0M | $229.0M | $200.0M | $197.0M | $166.0M |
| YoY | — | +48.7% | -12.7% | -1.5% | -15.7% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $1.1B | $-51.0M | $-2.0B | $4.6B | $11.3B |
| YoY | — | -104.6% | -3882.4% | +325.4% | +147.8% |
| Income tax | $1.1B | $455.0M | $526.0M | $1.4B | $4.6B |
| YoY | — | -58.6% | +15.6% | +165.6% | +229.0% |
| Net income | $1.2B | $-429.0M | $-2.5B | $3.3B | $7.1B |
| YoY | — | -136.8% | -481.4% | +234.2% | +111.6% |
| EPS — basic | $1.46 | $-0.54 | $-2.97 | $2.92 | $6.41 |
| YoY | — | -137.0% | -450.0% | +198.3% | +119.5% |
| EPS — diluted | $1.46 | $-0.54 | $-2.97 | $2.92 | $6.39 |
| YoY | — | -137.0% | -450.0% | +198.3% | +118.8% |
| Weighted shares — basic | 799.0M | 794.0M | 841.0M | 1.15B | 1.11B |
| Weighted shares — diluted | 801.0M | 795.0M | 841.0M | 1.15B | 1.11B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $5.0B | $2.9B | $3.0B | $3.6B | $7.6B |
| YoY | — | -42.4% | +4.3% | +20.6% | +111.3% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $337.0M | $366.0M | $734.0M | $1.1B | $1.1B |
| YoY | — | +8.6% | +100.5% | +43.9% | +1.0% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $7.7B | $6.5B | $7.5B | $12.3B | $13.1B |
| YoY | — | -15.3% | +15.3% | +63.4% | +6.4% |
| Total assets | $40.6B | $38.5B | $55.5B | $56.3B | $57.1B |
| YoY | — | -5.1% | +44.2% | +1.5% | +1.4% |
| Total current liabilities | $2.7B | $2.9B | $6.0B | $7.5B | $5.7B |
| YoY | — | +10.2% | +105.0% | +25.8% | -24.3% |
| Total liabilities | $18.7B | $18.9B | $26.3B | $26.2B | $23.1B |
| YoY | — | +1.3% | +38.8% | -0.2% | -12.0% |
| Total equity | $22.0B | $19.4B | $29.0B | $29.9B | $33.9B |
| YoY | — | -12.1% | +50.0% | +3.1% | +13.2% |
| Shares outstanding | 792.0M | 793.0M | 1.15B | 1.13B | 1.09B |
| YoY | — | +0.1% | +45.3% | -2.2% | -3.4% |
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 | $4.3B | $3.2B | $2.8B | $6.4B | $10.3B |
| YoY | — | -24.7% | -14.2% | +130.3% | +62.4% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $525.0M | $0 | $0 | $1.2B | $2.3B |
| YoY | — | -100.0% | — | — | +84.8% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 9.5% | -3.6% | -21.1% | 17.9% | 31.3% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 99.1% | -892.2% | -25.9% | 30.5% | 40.5% |
| Current ratio | 2.90x | 2.23x | 1.25x | 1.63x | 2.29x |
| Total liabilities / equity | 0.85x | 0.98x | 0.91x | 0.88x | 0.68x |
Peer comparison — latest full year
Same sector (Materials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| NEM FY25 · this stock | $22.7B | +21.3% | — | — | 31.3% | — |
| DOW FY25 | $40.0B | -7.0% | — | — | — | — |
| LIN FY25 | $34.0B | +3.0% | — | 26.3% | 20.3% | 15.0% |
| NUE FY25 | $32.5B | +5.7% | — | — | 5.4% | -0.6% |
| FCX FY25 | $25.9B | +1.8% | — | 25.2% | — | — |
| SHW FY25 | $23.6B | +2.1% | 48.8% | — | 10.9% | — |
| STLD FY25 | $18.2B | +3.6% | 13.2% | 8.1% | 6.5% | 2.8% |
| CTVA FY25 | $17.4B | +2.9% | — | — | 6.3% | — |
| ECL FY25 | $16.1B | +2.2% | — | 17.0% | 12.9% | 11.8% |
| PPG FY25 | $15.9B | +0.2% | — | — | 9.9% | 7.3% |
| MOS FY25 | $12.1B | +8.4% | 15.8% | 6.8% | 4.5% | -4.4% |
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.