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 | $1.5B | $1.9B | $2.2B | $2.9B | $4.5B |
| YoY | — | +23.6% | +16.7% | +28.8% | +56.2% |
| Cost of goods sold | $339.4M | $408.5M | $431.1M | $566.0M | $789.2M |
| YoY | — | +20.4% | +5.5% | +31.3% | +39.4% |
| Gross profit | $1.2B | $1.5B | $1.8B | $2.3B | $3.7B |
| YoY | — | +24.5% | +19.8% | +28.2% | +60.3% |
| Research & development | $387.5M | $359.7M | $404.6M | $507.9M | $557.7M |
| YoY | — | -7.2% | +12.5% | +25.5% | +9.8% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $-411.0M | $-161.2M | $120.0M | $310.4M | $1.4B |
| YoY | — | +60.8% | +174.4% | +158.7% | +355.5% |
| Pretax income | $-488.5M | $-361.0M | $237.1M | $489.2M | $1.7B |
| YoY | — | +26.1% | +165.7% | +106.3% | +238.8% |
| Income tax | $31.9M | $10.1M | $19.7M | $21.3M | $22.7M |
| YoY | — | -68.3% | +95.0% | +8.1% | +6.6% |
| Net income | $-520.4M | $-373.7M | $209.8M | $462.2M | $1.6B |
| YoY | — | +28.2% | +156.1% | +120.3% | +251.6% |
| EPS — basic | $-0.27 | $-0.18 | $0.10 | $0.21 | $0.69 |
| YoY | — | +33.3% | +155.6% | +110.0% | +228.6% |
| EPS — diluted | $-0.27 | $-0.18 | $0.09 | $0.19 | $0.63 |
| YoY | — | +33.3% | +150.0% | +111.1% | +231.6% |
| Weighted shares — basic | 1.92B | 2.06B | 2.15B | 2.25B | 2.37B |
| Weighted shares — diluted | 1.92B | 2.06B | 2.30B | 2.45B | 2.57B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $2.3B | $2.6B | $831.0M | $2.1B | $1.4B |
| YoY | — | +13.4% | -68.0% | +152.5% | -32.2% |
| Marketable securities (current) | $234.2M | $35.1M | $2.8B | $3.1B | $5.8B |
| YoY | — | -85.0% | +8000.0% | +10.1% | +83.7% |
| Accounts receivable | $190.9M | $258.3M | $364.8M | $575.0M | $1.0B |
| YoY | — | +35.3% | +41.2% | +57.6% | +81.2% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $2.9B | $3.0B | $4.1B | $5.9B | $8.4B |
| YoY | — | +6.2% | +36.1% | +43.4% | +40.8% |
| Total assets | $3.2B | $3.5B | $4.5B | $6.3B | $8.9B |
| YoY | — | +6.6% | +30.7% | +40.2% | +40.4% |
| Total current liabilities | $660.1M | $587.9M | $746.0M | $996.0M | $1.2B |
| YoY | — | -10.9% | +26.9% | +33.5% | +18.0% |
| Total liabilities | $956.4M | $818.8M | $961.5M | $1.2B | $1.4B |
| YoY | — | -14.4% | +17.4% | +29.6% | +13.3% |
| Total equity | $2.3B | $2.6B | $3.5B | $5.0B | $7.4B |
| YoY | — | +12.0% | +35.5% | +44.0% | +47.6% |
| Shares outstanding | 2.03B | 2.10B | 2.20B | 2.34B | 2.39B |
| YoY | — | +3.5% | +4.8% | +6.3% | +2.2% |
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 | $333.9M | $223.7M | $712.2M | $1.2B | $2.1B |
| YoY | — | -33.0% | +218.4% | +62.0% | +85.0% |
| Capital expenditures | $12.6M | $40.0M | $15.1M | $12.6M | $33.9M |
| YoY | — | +217.5% | -62.3% | -16.6% | +169.0% |
| Free cash flow | $321.3M | $183.7M | $697.1M | $1.1B | $2.1B |
| YoY | — | -42.8% | +279.5% | +63.7% | +84.1% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $0 | $0 | $0 | $64.2M | $75.0M |
| YoY | — | — | — | — | +16.8% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 78.0% | 78.6% | 80.6% | 80.2% | 82.4% |
| Operating margin | -26.7% | -8.5% | 5.4% | 10.8% | 31.6% |
| Net margin | -33.8% | -19.6% | 9.4% | 16.1% | 36.3% |
| Free cash flow margin | 20.8% | 9.6% | 31.3% | 39.8% | 46.9% |
| Effective tax rate | -6.5% | -2.8% | 8.3% | 4.4% | 1.4% |
| Current ratio | 4.34x | 5.17x | 5.55x | 5.96x | 7.11x |
| Total liabilities / equity | 0.42x | 0.32x | 0.28x | 0.25x | 0.19x |
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 |
|---|---|---|---|---|---|---|
| PLTR FY25 · this stock | $4.5B | +56.2% | 82.4% | 31.6% | 36.3% | 46.9% |
| 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.