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 | $35.5B | $33.7B | $30.4B | $33.3B | $34.5B | $34.1B | $32.5B | $51.0B |
| YoY | — | — | — | — | -2.9% | +1.3% | +6.9% | +53.1% |
| Cost of goods sold | $32.2B | $30.8B | $27.7B | $29.1B | $30.2B | $29.1B | $29.2B | $43.7B |
| YoY | — | — | — | — | -6.1% | -5.3% | +5.6% | +50.2% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $1.2B | $511.0M | $519.0M | $582.0M | $792.0M | $544.0M | $537.0M | $538.0M |
| YoY | — | — | — | — | -33.7% | +6.5% | +3.5% | -7.6% |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | $44.0M | $-38.0M | $122.0M | $212.0M | $32.0M | $526.0M | $41.0M | $1.1B |
| YoY | — | — | — | — | -27.3% | +1484.2% | -66.4% | +415.1% |
| Net income | $346.0M | $8.0M | $487.0M | $877.0M | $133.0M | $2.9B | $207.0M | $3.8B |
| YoY | — | — | — | — | -61.6% | +36225.0% | -57.5% | +338.7% |
| EPS — basic | $0.82 | — | $1.19 | $2.15 | $0.32 | — | $0.51 | $9.59 |
| YoY | — | — | — | — | -61.0% | — | -57.1% | +346.0% |
| EPS — diluted | $0.82 | — | $1.18 | $2.15 | $0.32 | — | $0.51 | $9.55 |
| YoY | — | — | — | — | -61.0% | — | -56.8% | +344.2% |
| Weighted shares — basic | 417.3M | — | 409.2M | 406.8M | 404.5M | — | 402.0M | 401.0M |
| Weighted shares — diluted | 418.8M | — | 410.5M | 407.9M | 405.5M | — | 403.3M | 402.6M |
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 | $1.6B | $1.7B | $1.5B | $1.1B | $1.8B | $1.1B | $5.2B | $4.1B |
| YoY | — | — | — | — | +12.7% | -35.8% | +245.9% | +289.6% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $10.4B | $11.0B | $10.2B | $11.3B | $10.5B | $9.8B | $11.9B | $11.7B |
| YoY | — | — | — | — | +1.0% | -11.4% | +16.5% | +3.3% |
| Inventory | $6.0B | $4.0B | $5.2B | $5.6B | $6.4B | $5.1B | $6.7B | $5.9B |
| YoY | — | — | — | — | +6.3% | +27.6% | +28.3% | +6.1% |
| Total current assets | $19.3B | $17.9B | $18.3B | $21.1B | $22.0B | $17.3B | $27.4B | $24.2B |
| YoY | — | — | — | — | +14.0% | -3.6% | +49.9% | +14.9% |
| Total assets | $75.1B | $72.6B | $71.8B | $75.9B | $76.1B | $73.7B | $84.1B | $81.8B |
| YoY | — | — | — | — | +1.4% | +1.5% | +17.0% | +7.7% |
| Total current liabilities | $15.9B | $15.1B | $14.9B | $19.7B | $17.9B | $13.3B | $24.2B | $18.4B |
| YoY | — | — | — | — | +12.7% | -11.7% | +62.5% | -6.8% |
| Total liabilities | $45.3B | $44.1B | $43.5B | $47.3B | $48.0B | $43.4B | $54.4B | $49.1B |
| YoY | — | — | — | — | +6.1% | -1.5% | +25.1% | +3.8% |
| Total equity | $28.7B | $27.4B | $27.3B | $27.5B | $26.9B | $29.1B | $28.5B | $31.5B |
| YoY | — | — | — | — | -6.3% | +6.1% | +4.6% | +14.6% |
| 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.
| Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $1.2B | $187.0M | $845.0M | $1.2B | $2.8B | $-2.3B | $7.3B |
| YoY | — | — | — | — | +4.1% | +129.7% | -1310.7% | +759.1% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $800.0M | $647.0M | $247.0M | $419.0M | $267.0M | $274.0M | $269.0M | $379.0M |
| YoY | — | — | — | — | -66.6% | -57.7% | +8.9% | -9.5% |
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 | — | — | — | — | — | — | — | — |
| Net margin | 1.0% | 0.0% | 1.6% | 2.6% | 0.4% | 8.5% | 0.6% | 7.5% |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | 1.21x | 1.19x | 1.23x | 1.07x | 1.23x | 1.30x | 1.13x | 1.32x |
| Total liabilities / equity | 1.58x | 1.61x | 1.59x | 1.72x | 1.78x | 1.49x | 1.91x | 1.56x |
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 |
|---|---|---|---|---|---|---|
| PSX FY25 · this stock | $132.4B | -7.5% | — | — | 3.3% | — |
| 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% |
| COP FY25 | $58.9B | +7.7% | — | — | 13.6% | — |
| SLB FY25 | $35.7B | -1.6% | — | — | 9.4% | 13.4% |
| OKE FY25 | $33.6B | +55.0% | — | 17.1% | 10.1% | 7.3% |
| 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.