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 | $3.4B | $4.2B | $4.5B | $4.7B | $4.8B |
| YoY | — | +22.4% | +8.0% | +3.9% | +2.7% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Pretax income | $2.0B | $4.4B | $2.2B | $2.1B | $1.8B |
| YoY | — | +122.1% | -50.4% | -3.8% | -14.3% |
| Income tax | $12.4M | $14.3M | $10.8M | $4.7M | $-7.2M |
| YoY | — | +15.3% | -24.5% | -56.5% | -253.2% |
| Net income | $2.0B | $4.3B | $2.1B | $2.1B | $1.8B |
| YoY | — | +122.7% | -50.6% | -3.6% | -13.9% |
| EPS — basic | $9.91 | $23.64 | $11.11 | $10.68 | $9.04 |
| YoY | — | +138.5% | -53.0% | -3.9% | -15.4% |
| EPS — diluted | $9.87 | $23.50 | $11.06 | $10.64 | $9.01 |
| YoY | — | +138.1% | -52.9% | -3.8% | -15.3% |
| Weighted shares — basic | 174.9M | 175.3M | 175.5M | 175.4M | 175.4M |
| Weighted shares — diluted | 175.6M | 176.3M | 176.1M | 176.0M | 175.9M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $734.6M | $775.3M | $370.0M | $447.4M | $318.1M |
| YoY | — | +5.5% | -52.3% | +20.9% | -28.9% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total assets | $17.4B | $17.6B | $19.8B | $19.8B | $20.2B |
| YoY | — | +1.0% | +12.9% | -0.3% | +2.3% |
| Total current liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total liabilities | $8.0B | $7.4B | $9.7B | $9.9B | $10.9B |
| YoY | — | -7.2% | +31.4% | +2.5% | +9.3% |
| Total equity | $9.3B | $10.1B | $10.0B | $9.7B | $9.2B |
| YoY | — | +7.9% | -0.6% | -3.0% | -4.8% |
| 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 | $2.5B | $3.1B | $3.2B | $3.1B | $3.2B |
| YoY | — | +22.5% | +4.2% | -3.6% | +1.9% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | $0 | $0 | $200.0M | $0 |
| YoY | — | — | — | — | -100.0% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | — | — | — |
| Net margin | 57.2% | 104.0% | 47.6% | 44.1% | 37.0% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 0.6% | 0.3% | 0.5% | 0.2% | -0.4% |
| Current ratio | — | — | — | — | — |
| Total liabilities / equity | 0.85x | 0.73x | 0.97x | 1.02x | 1.18x |
Peer comparison — latest full year
Same sector (Real Estate), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| PSA FY25 · this stock | $4.8B | +2.7% | — | — | 37.0% | — |
| CBRE FY25 | $40.5B | +13.4% | — | 4.3% | 2.9% | — |
| EQIX FY25 | $9.2B | +5.4% | — | 20.0% | 14.6% | — |
| AMT FY20 | $8.0B | +6.1% | — | 35.9% | — | 35.4% |
| SPG FY25 | $6.4B | +6.7% | — | 49.9% | — | — |
| DLR FY25 | $6.1B | +10.0% | — | 10.8% | 21.4% | — |
| O FY25 | $5.7B | +9.1% | — | — | 18.4% | — |
| CCI FY25 | $4.3B | -4.4% | — | 48.7% | 10.4% | — |
| VICI FY25 | $4.0B | +4.1% | — | — | 69.3% | — |
| EXR FY25 | $3.4B | +3.7% | — | 41.8% | 28.8% | — |
| SBAC FY25 | $2.8B | +5.1% | 75.5% | 47.7% | 37.4% | 37.9% |
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.