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 | $31.4B | $31.8B | $35.2B | $37.9B | $40.6B |
| YoY | — | +1.1% | +10.7% | +7.7% | +7.3% |
| Cost of goods sold | $10.0B | $11.4B | $12.9B | $13.3B | $13.4B |
| YoY | — | +13.7% | +13.1% | +3.4% | +0.3% |
| Gross profit | $21.4B | $20.4B | $22.3B | $24.5B | $27.3B |
| YoY | — | -4.7% | +9.4% | +10.2% | +11.1% |
| Research & development | $617.0M | $642.0M | $709.0M | $759.0M | $756.0M |
| YoY | — | +4.1% | +10.4% | +7.1% | -0.4% |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $13.0B | $12.2B | $11.6B | $13.4B | $14.9B |
| YoY | — | -5.6% | -5.6% | +16.0% | +11.1% |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $2.7B | $2.2B | $2.3B | $3.0B | $2.7B |
| YoY | — | -16.0% | +4.2% | +29.0% | -9.3% |
| Net income | $9.1B | $9.0B | $7.8B | $7.1B | $11.3B |
| YoY | — | -0.7% | -13.6% | -9.7% | +60.8% |
| EPS — basic | $5.83 | $5.82 | $5.02 | $4.53 | $7.27 |
| YoY | — | -0.2% | -13.7% | -9.8% | +60.5% |
| EPS — diluted | $5.83 | $5.81 | $5.02 | $4.52 | $7.26 |
| YoY | — | -0.3% | -13.6% | -10.0% | +60.6% |
| Weighted shares — basic | 1.56B | 1.55B | 1.55B | 1.55B | 1.56B |
| Weighted shares — diluted | 1.56B | 1.55B | 1.55B | 1.56B | 1.56B |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $4.5B | $3.2B | $3.1B | $4.2B | $4.9B |
| YoY | — | -28.7% | -4.6% | +37.8% | +15.6% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $3.1B | $3.9B | $3.5B | $3.8B | $4.6B |
| YoY | — | +23.3% | -10.1% | +9.5% | +20.7% |
| Inventory | $8.7B | $9.9B | $10.8B | $9.5B | $11.5B |
| YoY | — | +13.4% | +9.0% | -12.3% | +21.4% |
| Total current assets | $17.7B | $19.6B | $19.8B | $20.2B | $24.4B |
| YoY | — | +10.7% | +0.7% | +2.1% | +20.8% |
| Total assets | $41.3B | $61.7B | $65.3B | $61.8B | $69.2B |
| YoY | — | +49.4% | +5.9% | -5.4% | +12.0% |
| Total current liabilities | $19.3B | $27.3B | $26.4B | $22.9B | $25.4B |
| YoY | — | +42.0% | -3.5% | -13.1% | +11.0% |
| Total liabilities | $49.5B | $68.0B | $74.8B | $71.7B | $77.2B |
| YoY | — | +37.4% | +9.9% | -4.1% | +7.8% |
| Total equity | $-10.1B | $-9.0B | $-11.2B | $-11.8B | $-10.0B |
| YoY | — | +11.4% | -25.3% | -4.7% | +14.9% |
| Shares outstanding | — | — | — | — | — |
| YoY | — | — | — | — | — |
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 | $12.0B | $10.8B | $9.2B | $12.2B | $12.2B |
| YoY | — | -9.7% | -14.8% | +32.7% | +0.1% |
| Capital expenditures | $748.0M | $1.1B | $1.3B | $1.4B | $1.6B |
| YoY | — | +44.0% | +22.7% | +9.3% | +8.7% |
| Free cash flow | $11.2B | $9.7B | $7.9B | $10.8B | $10.7B |
| YoY | — | -13.3% | -18.9% | +36.7% | -1.0% |
| Dividends paid | $7.6B | $7.8B | $8.0B | $8.2B | $8.6B |
| YoY | — | +3.1% | +1.9% | +2.9% | +5.2% |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | 68.1% | 64.1% | 63.3% | 64.8% | 67.1% |
| Operating margin | 41.3% | 38.6% | 32.9% | 35.4% | 36.6% |
| Net margin | 29.0% | 28.5% | 22.2% | 18.6% | 27.9% |
| Free cash flow margin | 35.7% | 30.6% | 22.4% | 28.4% | 26.2% |
| Effective tax rate | — | — | — | — | — |
| Current ratio | 0.92x | 0.72x | 0.75x | 0.88x | 0.96x |
| Total liabilities / equity | -4.90x | -7.59x | -6.66x | -6.10x | -7.73x |
Peer comparison — latest full year
Same sector (Consumer Staples), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| PM FY25 · this stock | $40.6B | +7.3% | 67.1% | 36.6% | 27.9% | 26.2% |
| WMT FY26 | $713.2B | +4.7% | — | 4.2% | 3.1% | 2.1% |
| COST FY26 | $303.2B | +10.1% | — | 3.9% | 3.0% | 3.1% |
| KR FY26 | $147.6B | +0.4% | — | 1.3% | 0.7% | — |
| PEP FY25 | $93.9B | +2.3% | 54.1% | 12.2% | 8.8% | — |
| PG FY26 | $87.0B | +3.3% | — | 22.7% | 18.4% | 17.4% |
| SYY FY26 | $84.6B | +3.9% | 18.5% | 3.7% | 2.1% | — |
| ADM FY25 | $80.3B | -6.2% | 6.3% | — | 1.3% | 5.2% |
| TSN FY25 | $54.4B | +2.1% | 6.5% | 2.0% | 0.9% | 2.2% |
| KO FY25 | $47.9B | +1.9% | 61.6% | 28.7% | 27.3% | 11.0% |
| MDLZ FY25 | $38.5B | +5.8% | 28.4% | 9.2% | 6.4% | 8.4% |
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.