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 | $5.0B | $7.0B | $8.0B | $7.9B | $8.6B | $9.1B | $9.6B | $12.0B |
| YoY | — | — | — | — | +71.9% | +29.5% | +19.6% | +52.8% |
| Cost of goods sold | $3.0B | $4.5B | $5.7B | $5.4B | $6.0B | $6.4B | $7.1B | $9.2B |
| YoY | — | — | — | — | +97.0% | +42.3% | +24.7% | +72.4% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $1.1B | $1.6B | $1.2B | $1.4B | $1.6B | $1.5B | $1.4B | $1.6B |
| YoY | — | — | — | — | +38.1% | -2.3% | +17.0% | +11.3% |
| Pretax income | $912.0M | $1.3B | $888.0M | $1.1B | $1.2B | $1.3B | $1.0B | $1.3B |
| YoY | — | — | — | — | +35.6% | -5.7% | +15.0% | +13.7% |
| Income tax | $219.0M | $328.0M | $197.0M | $260.0M | $297.0M | $274.0M | $245.0M | $299.0M |
| YoY | — | — | — | — | +35.6% | -16.5% | +24.4% | +15.0% |
| Net income | $693.0M | $923.0M | $636.0M | $841.0M | $939.0M | $977.0M | $774.0M | $966.0M |
| YoY | — | — | — | — | +35.5% | +5.9% | +21.7% | +14.9% |
| EPS — basic | $1.18 | — | $1.04 | $1.34 | $1.49 | — | $1.23 | $1.53 |
| YoY | — | — | — | — | +26.3% | — | +18.3% | +14.2% |
| EPS — diluted | $1.18 | — | $1.04 | $1.34 | $1.49 | — | $1.23 | $1.53 |
| YoY | — | — | — | — | +26.3% | — | +18.3% | +14.2% |
| Weighted shares — basic | 584.8M | — | 611.4M | 627.2M | 630.6M | — | 630.7M | 630.9M |
| Weighted shares — diluted | 586.7M | — | 612.5M | 628.1M | 631.5M | — | 631.6M | 632.0M |
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 | $579.0M | $733.0M | $141.0M | $97.0M | $1.2B | $78.0M | $172.0M | $161.0M |
| YoY | — | — | — | — | +107.1% | -89.4% | +22.0% | +66.0% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.3B | $2.3B | $2.7B | $2.5B | $2.6B | $3.0B | $3.7B | $3.5B |
| YoY | — | — | — | — | +106.1% | +29.4% | +38.4% | +42.9% |
| Inventory | $616.0M | $748.0M | $905.0M | $858.0M | $871.0M | $948.0M | $1.1B | $1.1B |
| YoY | — | — | — | — | +41.4% | +26.7% | +25.5% | +23.1% |
| Total current assets | $2.9B | $4.2B | $4.1B | $3.9B | $5.2B | $4.5B | $5.5B | $5.3B |
| YoY | — | — | — | — | +80.3% | +5.9% | +34.7% | +36.3% |
| Total assets | $51.0B | $64.1B | $64.3B | $64.5B | $66.6B | $66.6B | $68.2B | $68.5B |
| YoY | — | — | — | — | +30.5% | +4.0% | +6.1% | +6.2% |
| Total current liabilities | $3.6B | $4.7B | $6.2B | $6.6B | $5.7B | $6.4B | $7.8B | $7.2B |
| YoY | — | — | — | — | +61.2% | +34.9% | +26.3% | +8.4% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $16.9B | $17.0B | $21.4B | $21.8B | $22.1B | $22.5B | $22.4B | $22.9B |
| YoY | — | — | — | — | +30.8% | +32.0% | +4.6% | +5.1% |
| Shares outstanding | 584.2M | 583.1M | 624.6M | 629.7M | 629.8M | 629.7M | 630.0M | 630.4M |
| YoY | — | — | — | — | +7.8% | +8.0% | +0.9% | +0.1% |
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 | $1.3B | $1.6B | $904.0M | $1.5B | $1.6B | $1.5B | $934.0M | $2.1B |
| YoY | — | — | — | — | +29.8% | -4.0% | +3.3% | +34.6% |
| Capital expenditures | $468.0M | $562.0M | $629.0M | $749.0M | $804.0M | $970.0M | $864.0M | $613.0M |
| YoY | — | — | — | — | +71.8% | +72.6% | +37.4% | -18.2% |
| Free cash flow | $783.0M | $1.0B | $275.0M | $776.0M | $820.0M | $576.0M | $70.0M | $1.4B |
| YoY | — | — | — | — | +4.7% | -45.1% | -74.5% | +85.6% |
| Dividends paid | $578.0M | $579.0M | $643.0M | $644.0M | $648.0M | $648.0M | $674.0M | $674.0M |
| YoY | — | — | — | — | +12.1% | +11.9% | +4.8% | +4.7% |
| Share repurchases | $0 | $159.0M | $30.0M | $0 | $0 | $45.0M | — | — |
| YoY | — | — | — | — | — | -71.7% | — | — |
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 | 22.5% | 22.4% | 15.2% | 18.1% | 18.0% | 16.9% | 14.8% | 13.2% |
| Net margin | 13.8% | 13.2% | 7.9% | 10.7% | 10.9% | 10.8% | 8.0% | 8.0% |
| Free cash flow margin | 15.6% | 15.0% | 3.4% | 9.8% | 9.5% | 6.4% | 0.7% | 12.0% |
| Effective tax rate | 24.0% | 24.7% | 22.2% | 23.4% | 24.0% | 21.9% | 24.0% | 23.6% |
| Current ratio | 0.81x | 0.90x | 0.67x | 0.59x | 0.90x | 0.71x | 0.71x | 0.74x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| OKE FY25 · this stock | $33.6B | +55.0% | — | 17.1% | 10.1% | 7.3% |
| XOM FY25 | $332.2B | -5.0% | — | — | 8.7% | 7.1% |
| CVX FY25 | $189.0B | -6.8% | — | — | 6.5% | — |
| MPC FY25 | $132.7B | -4.4% | — | 6.2% | 3.0% | 3.6% |
| 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% |
| 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.