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 | $5.9B | $7.2B | $9.0B | $11.0B | $13.3B |
| YoY | — | +22.9% | +23.8% | +22.4% | +20.9% |
| Cost of goods sold | $1.4B | $1.6B | $1.9B | $2.3B | $3.0B |
| YoY | — | +16.3% | +22.1% | +19.1% | +30.4% |
| Gross profit | $4.5B | $5.7B | $7.0B | $8.7B | $10.3B |
| YoY | — | +24.9% | +24.3% | +23.4% | +18.4% |
| Research & development | $1.4B | $1.8B | $2.1B | $2.5B | $3.0B |
| YoY | — | +26.6% | +20.1% | +19.7% | +16.4% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $257.0M | $355.0M | $762.0M | $1.4B | $1.8B |
| YoY | — | +38.1% | +114.6% | +79.0% | +33.7% |
| Pretax income | $249.0M | $399.0M | $1.0B | $1.7B | $2.3B |
| YoY | — | +60.2% | +152.6% | +72.4% | +30.1% |
| Income tax | $19.0M | $74.0M | $-723.0M | $313.0M | $513.0M |
| YoY | — | +289.5% | -1077.0% | +143.3% | +63.9% |
| Net income | $230.0M | $325.0M | $1.7B | $1.4B | $1.7B |
| YoY | — | +41.3% | +432.6% | -17.7% | +22.7% |
| EPS — basic | $1.16 | $1.61 | $1.70 | $1.38 | $1.69 |
| YoY | — | +38.8% | +5.6% | -18.8% | +22.5% |
| EPS — diluted | $1.13 | $1.60 | $1.68 | $1.37 | $1.67 |
| YoY | — | +41.6% | +5.0% | -18.5% | +21.9% |
| Weighted shares — basic | 198.1M | 201.4M | 1.02B | 1.03B | 1.04B |
| Weighted shares — diluted | 203.2M | 203.5M | 1.03B | 1.04B | 1.05B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $1.7B | $1.5B | $1.9B | $2.3B | $3.7B |
| YoY | — | -14.9% | +29.0% | +21.5% | +61.7% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.4B | $1.7B | $2.0B | $2.2B | $2.6B |
| YoY | — | +24.1% | +18.0% | +10.0% | +17.3% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $5.2B | $6.7B | $7.8B | $9.2B | $10.5B |
| YoY | — | +27.5% | +16.9% | +18.1% | +14.0% |
| Total assets | $10.8B | $13.3B | $17.4B | $20.4B | $26.0B |
| YoY | — | +23.2% | +30.7% | +17.2% | +27.7% |
| Total current liabilities | $4.9B | $6.0B | $7.4B | $8.4B | $10.4B |
| YoY | — | +21.3% | +22.6% | +13.5% | +24.9% |
| Total liabilities | $7.1B | $8.3B | $9.8B | $10.8B | $13.1B |
| YoY | — | +16.4% | +18.0% | +10.4% | +21.3% |
| Total equity | $3.7B | $5.0B | $7.6B | $9.6B | $13.0B |
| YoY | — | +36.2% | +51.6% | +26.0% | +34.9% |
| Shares outstanding | 199.6M | 202.9M | 204.7M | 1.03B | 1.05B |
| YoY | — | +1.7% | +0.9% | +404.3% | +1.4% |
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 | $2.2B | $2.7B | $3.4B | $4.3B | $5.4B |
| YoY | — | +24.3% | +24.8% | +25.6% | +27.6% |
| Capital expenditures | $392.0M | $550.0M | $694.0M | $852.0M | $868.0M |
| YoY | — | +40.3% | +26.2% | +22.8% | +1.9% |
| Free cash flow | $1.8B | $2.2B | $2.7B | $3.4B | $4.6B |
| YoY | — | +20.8% | +24.4% | +26.3% | +34.0% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $0 | $0 | $538.0M | $696.0M | $1.8B |
| YoY | — | — | — | +29.4% | +164.4% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 77.1% | 78.3% | 78.6% | 79.2% | 77.5% |
| Operating margin | 4.4% | 4.9% | 8.5% | 12.4% | 13.7% |
| Net margin | 3.9% | 4.5% | 19.3% | 13.0% | 13.2% |
| Free cash flow margin | 30.5% | 30.0% | 30.1% | 31.1% | 34.5% |
| Effective tax rate | 7.6% | 18.5% | -71.7% | 18.0% | 22.7% |
| Current ratio | 1.05x | 1.11x | 1.06x | 1.10x | 1.00x |
| Total liabilities / equity | 1.92x | 1.64x | 1.28x | 1.12x | 1.01x |
Peer comparison — latest full year
Same sector (Information Technology), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| NOW FY25 · this stock | $13.3B | +20.9% | 77.5% | 13.7% | 13.2% | 34.5% |
| AAPL FY25 | $416.2B | +6.4% | 46.9% | 32.0% | 26.9% | 23.7% |
| MSFT FY26 | $331.8B | +17.8% | 67.9% | 46.8% | 40.3% | 20.2% |
| NVDA FY26 | $215.9B | +65.5% | 71.1% | 60.4% | 55.6% | — |
| MU FY26 | $133.2B | +256.3% | 80.7% | 74.6% | 63.8% | 44.3% |
| IBM FY25 | $67.5B | +7.6% | 58.2% | — | 15.7% | 17.9% |
| ORCL FY26 | $67.4B | +17.3% | — | 30.6% | 25.4% | -35.2% |
| CSCO FY26 | $63.3B | +11.8% | 64.5% | 24.3% | 21.0% | 20.2% |
| INTC FY25 | $52.9B | -0.5% | 34.8% | -4.2% | -0.5% | -9.4% |
| AVGO FY24 | $51.6B | +44.0% | 63.0% | 26.1% | — | 37.6% |
| QCOM FY25 | $44.3B | +13.7% | — | 27.9% | 12.5% | — |
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.