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 | $5.7B | $5.0B | $5.3B | $5.5B | $6.8B | $7.3B | $6.1B | $6.4B |
| YoY | — | — | — | — | +20.6% | +45.8% | +15.1% | +15.2% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | $48.0M | $43.0M | $40.0M | $40.0M | $43.0M | $45.0M | $47.0M | $58.0M |
| YoY | — | — | — | — | -10.4% | +4.7% | +17.5% | +45.0% |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | $2.1B | $2.5B | $3.1B | $2.5B | $3.2B | $4.6B | $3.0B | $3.2B |
| YoY | — | — | — | — | +58.0% | +85.5% | -3.8% | +28.0% |
| Income tax | $702.0M | $647.0M | $1.1B | $787.0M | $2.1B | $1.4B | $952.0M | $839.0M |
| YoY | — | — | — | — | +194.9% | +117.0% | -12.8% | +6.6% |
| Net income | $1.4B | $1.9B | $2.1B | $1.8B | $1.3B | $3.3B | $2.2B | $2.5B |
| YoY | — | — | — | — | -7.3% | +72.5% | +6.8% | +35.1% |
| EPS — basic | — | $1.68 | $1.86 | $1.67 | — | $3.01 | $2.07 | $2.36 |
| YoY | — | — | — | — | — | +79.2% | +11.3% | +41.3% |
| EPS — diluted | — | $1.68 | $1.85 | $1.67 | — | $3.00 | $2.06 | $2.35 |
| YoY | — | — | — | — | — | +78.6% | +11.4% | +40.7% |
| Weighted shares — basic | — | 1.13B | 1.11B | 1.10B | — | 1.08B | 1.06B | 1.05B |
| Weighted shares — diluted | — | 1.13B | 1.11B | 1.10B | — | 1.09B | 1.07B | 1.05B |
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 | $3.6B | $4.7B | $6.2B | $5.6B | $7.6B | $8.8B | $9.0B | $8.8B |
| YoY | — | — | — | — | +111.3% | +86.8% | +45.7% | +56.5% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.1B | $887.0M | $637.0M | $1.0B | $1.1B | $1.1B | $686.0M | $952.0M |
| YoY | — | — | — | — | +1.0% | +28.2% | +7.7% | -9.1% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $12.3B | $10.7B | $10.4B | $10.4B | $13.1B | $13.5B | $13.3B | $13.6B |
| YoY | — | — | — | — | +6.4% | +25.8% | +28.0% | +30.8% |
| Total assets | $56.3B | $55.5B | $55.2B | $54.7B | $57.1B | $57.7B | $57.6B | $58.2B |
| YoY | — | — | — | — | +1.4% | +3.9% | +4.5% | +6.4% |
| Total current liabilities | $7.5B | $5.4B | $4.7B | $5.1B | $5.7B | $5.5B | $5.2B | $5.5B |
| YoY | — | — | — | — | -24.3% | +1.9% | +11.9% | +8.9% |
| Total liabilities | $26.2B | $24.1B | $22.9B | $21.3B | $23.1B | $22.6B | $22.2B | $22.3B |
| YoY | — | — | — | — | -12.0% | -6.3% | -2.8% | +5.0% |
| Total equity | $29.9B | $31.2B | $32.1B | $33.2B | $33.9B | $34.9B | $35.2B | $35.7B |
| YoY | — | — | — | — | +13.2% | +11.8% | +9.8% | +7.4% |
| Shares outstanding | 1.13B | — | — | — | 1.09B | — | — | — |
| YoY | — | — | — | — | -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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.5B | $2.0B | $2.4B | $2.3B | $3.6B | $3.8B | $2.9B | $2.8B |
| YoY | — | — | — | — | +44.2% | +86.4% | +22.7% | +20.5% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $798.0M | $348.0M | $1.0B | $516.0M | $428.0M | $1.9B | $1.6B | $1.8B |
| YoY | — | — | — | — | -46.4% | +444.5% | +55.0% | +244.8% |
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 | — | — | — | — | — | — | — | — |
| Net margin | 24.8% | 37.7% | 38.8% | 33.2% | 19.1% | 44.6% | 36.0% | 38.9% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 34.2% | 26.2% | 35.0% | 31.4% | 63.8% | 30.6% | 31.7% | 26.1% |
| Current ratio | 1.63x | 1.98x | 2.23x | 2.04x | 2.29x | 2.44x | 2.55x | 2.45x |
| Total liabilities / equity | 0.88x | 0.77x | 0.71x | 0.64x | 0.68x | 0.65x | 0.63x | 0.63x |
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.