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 | $2.6B | $2.5B | $3.2B | $2.8B | $3.2B | $2.9B | $3.8B | $2.6B |
| YoY | — | — | — | — | +22.1% | +18.3% | +19.4% | -8.9% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $641.0M | $445.0M | $797.0M | $817.0M | $855.0M | $511.0M | $1.1B | $461.0M |
| YoY | — | — | — | — | +33.4% | +14.8% | +34.9% | -43.6% |
| Pretax income | $559.0M | $200.0M | $617.0M | $726.0M | $720.0M | $311.0M | $848.0M | $398.0M |
| YoY | — | — | — | — | +28.8% | +55.5% | +37.4% | -45.2% |
| Income tax | $39.0M | $-86.0M | $28.0M | $141.0M | $98.0M | $-4.0M | $107.0M | $64.0M |
| YoY | — | — | — | — | +151.3% | +95.3% | +282.1% | -54.6% |
| Net income | $520.0M | $286.0M | $589.0M | $585.0M | $622.0M | $315.0M | $741.0M | $334.0M |
| YoY | — | — | — | — | +19.6% | +10.1% | +25.8% | -42.9% |
| EPS — basic | $1.04 | — | $1.18 | $1.17 | $1.25 | — | $1.48 | $0.67 |
| YoY | — | — | — | — | +20.2% | — | +25.4% | -42.7% |
| EPS — diluted | $1.04 | — | $1.18 | $1.17 | $1.24 | — | $1.48 | $0.67 |
| YoY | — | — | — | — | +19.2% | — | +25.4% | -42.7% |
| Weighted shares — basic | 498.0M | — | 498.0M | 499.0M | 499.0M | — | 499.0M | 498.0M |
| Weighted shares — diluted | 500.0M | — | 500.0M | 500.0M | 501.0M | — | 500.0M | 499.0M |
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 | $203.0M | $125.0M | $894.0M | $186.0M | $334.0M | $132.0M | $404.0M | $192.0M |
| YoY | — | — | — | — | +64.5% | +5.6% | -54.8% | +3.2% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.5B | $1.6B | $1.8B | $1.7B | $1.6B | $1.9B | $2.1B | $1.9B |
| YoY | — | — | — | — | +11.4% | +18.2% | +16.6% | +12.0% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $4.0B | $4.2B | $4.8B | $4.6B | $4.7B | $4.6B | $4.4B | $4.6B |
| YoY | — | — | — | — | +17.2% | +8.5% | -8.1% | -0.7% |
| Total assets | $54.1B | $54.6B | $55.6B | $56.0B | $56.9B | $57.6B | $57.9B | $58.8B |
| YoY | — | — | — | — | +5.2% | +5.4% | +4.3% | +5.0% |
| Total current liabilities | $5.9B | $6.5B | $5.8B | $4.6B | $5.0B | $5.7B | $4.5B | $5.2B |
| YoY | — | — | — | — | -14.5% | -11.8% | -21.8% | +13.3% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Shares outstanding | — | 498.0M | — | — | — | 498.0M | — | — |
| YoY | — | — | — | — | — | +0.0% | — | — |
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 | $623.0M | $367.0M | $1.0B | $478.0M | $1.1B | $721.0M | $1.3B | $550.0M |
| YoY | — | — | — | — | +68.5% | +96.5% | +21.2% | +15.1% |
| Capital expenditures | $768.0M | $978.0M | $628.0M | $787.0M | $728.0M | $1.1B | $693.0M | $766.0M |
| YoY | — | — | — | — | -5.2% | +15.4% | +10.4% | -2.7% |
| Free cash flow | $-145.0M | $-611.0M | $421.0M | $-309.0M | $322.0M | $-408.0M | $578.0M | $-216.0M |
| YoY | — | — | — | — | +322.1% | +33.2% | +37.3% | +30.1% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
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 | 24.3% | 18.1% | 24.7% | 29.1% | 26.5% | 17.5% | 27.9% | 18.1% |
| Net margin | 19.7% | 11.6% | 18.3% | 20.9% | 19.3% | 10.8% | 19.3% | 13.1% |
| Free cash flow margin | -5.5% | -24.8% | 13.1% | -11.0% | 10.0% | -14.0% | 15.0% | -8.5% |
| Effective tax rate | 7.0% | -43.0% | 4.5% | 19.4% | 13.6% | -1.3% | 12.6% | 16.1% |
| Current ratio | 0.68x | 0.65x | 0.82x | 1.00x | 0.93x | 0.80x | 0.97x | 0.88x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Utilities), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| PEG FY25 · this stock | $12.2B | +18.3% | — | 24.5% | 17.3% | 0.2% |
| SO FY25 | $29.6B | +10.6% | — | 24.7% | — | -9.9% |
| CEG FY25 | $25.5B | +8.3% | — | 12.1% | 9.1% | 5.0% |
| EXC FY12 | $23.5B | +23.2% | — | 10.1% | — | 1.5% |
| EIX FY25 | $19.3B | +9.8% | — | 36.7% | 23.1% | -3.7% |
| VST FY25 | $17.7B | +3.0% | — | 10.7% | 5.3% | 7.4% |
| ED FY25 | $16.9B | +10.9% | — | 17.3% | 12.0% | — |
| D FY25 | $16.5B | +14.2% | — | 26.7% | 18.2% | — |
| FE FY25 | $15.1B | +12.0% | — | 14.6% | 6.8% | — |
| AEP FY13 | $14.8B | -0.9% | — | 19.1% | — | — |
| SRE FY25 | $13.7B | +3.9% | — | — | 13.4% | — |
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.