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.
| FY12 | FY13 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | — | — | $42.9B | $42.9B | $44.6B |
| YoY | — | — | — | +0.1% | +3.9% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | $376.4M | $395.5M | $1.3B | $1.4B | $1.4B |
| YoY | — | +5.1% | — | +4.0% | +0.5% |
| Selling, general & administrative | $3.4B | $3.4B | $8.4B | $8.6B | $8.7B |
| YoY | — | +2.7% | — | +1.8% | +1.6% |
| Operating income | $1.5B | $1.6B | $6.9B | $7.3B | $7.7B |
| YoY | — | +8.6% | — | +7.0% | +5.6% |
| Pretax income | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Income tax | $11.0M | $40.4M | $284.0M | $657.0M | $547.0M |
| YoY | — | +267.3% | — | +131.3% | -16.7% |
| Net income | $1.2B | $1.3B | $6.0B | $6.3B | $6.7B |
| YoY | — | +8.1% | — | +5.7% | +5.8% |
| EPS — basic | $3.24 | $3.53 | $15.52 | $16.58 | $17.77 |
| YoY | — | +9.0% | — | +6.8% | +7.2% |
| EPS — diluted | $3.21 | $3.48 | $15.45 | $16.53 | $17.74 |
| YoY | — | +8.4% | — | +7.0% | +7.3% |
| Weighted shares — basic | 363.8M | 360.3M | 386.0M | 382.0M | 377.0M |
| Weighted shares — diluted | 366.6M | 365.8M | 388.0M | 383.0M | 378.0M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY12 | FY13 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $805.6M | $5.8B | $8.1B | $4.0B | $9.9B |
| YoY | — | +623.2% | — | -50.4% | +145.7% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.8B | $1.9B | $8.2B | $8.2B | $8.9B |
| YoY | — | +7.6% | — | -0.4% | +8.7% |
| Inventory | $1.4B | $1.5B | $5.1B | $5.0B | $5.4B |
| YoY | — | +3.5% | — | -2.2% | +9.0% |
| Total current assets | $4.8B | $9.9B | $24.6B | $22.1B | $28.7B |
| YoY | — | +104.4% | — | -10.0% | +29.7% |
| Total assets | $27.4B | $31.9B | $98.7B | $97.3B | $110.3B |
| YoY | — | +16.1% | — | -1.4% | +13.4% |
| Total current liabilities | $2.1B | $3.1B | $14.0B | $13.3B | $15.2B |
| YoY | — | +49.3% | — | -4.9% | +13.9% |
| Total liabilities | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total equity | $15.5B | $16.9B | $46.7B | $49.6B | $53.4B |
| YoY | — | +9.0% | — | +6.1% | +7.7% |
| 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.
| FY12 | FY13 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Operating cash flow | $2.0B | $2.0B | $8.4B | $8.7B | $7.8B |
| YoY | — | -1.4% | — | +3.1% | -9.8% |
| Capital expenditures | $315.1M | $282.4M | $1.5B | $1.4B | $1.5B |
| YoY | — | -10.4% | — | -5.3% | +8.9% |
| Free cash flow | $1.7B | $1.7B | $6.9B | $7.3B | $6.3B |
| YoY | — | +0.2% | — | +4.9% | -13.4% |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | $1.1B | $89.8M | $3.0B | $4.0B | $3.0B |
| YoY | — | -92.2% | — | +33.3% | -25.0% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY12 | FY13 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | — | — | 16.0% | 17.1% | 17.4% |
| Net margin | — | — | 14.0% | 14.8% | 15.0% |
| Free cash flow margin | — | — | 16.2% | 16.9% | 14.1% |
| Effective tax rate | — | — | — | — | — |
| Current ratio | 2.31x | 3.16x | 1.75x | 1.66x | 1.89x |
| Total liabilities / equity | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Health Care), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| TMO FY25 · this stock | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
| UNH FY25 | $447.6B | +11.8% | — | 4.2% | 2.7% | 3.6% |
| CVS FY25 | $402.1B | +7.8% | — | 1.2% | 0.4% | 1.9% |
| CI FY25 | $274.9B | +11.2% | — | 3.3% | — | — |
| ELV FY25 | $199.1B | +12.5% | — | 3.6% | 2.8% | 1.6% |
| JNJ FY25 | $94.2B | +6.0% | 67.9% | — | 28.5% | 20.9% |
| LLY FY25 | $65.2B | +44.7% | — | — | 31.7% | — |
| MRK FY25 | $65.0B | +1.3% | — | — | 28.1% | 19.0% |
| ABBV FY25 | $61.2B | +8.6% | — | 24.6% | 6.9% | 29.1% |
| BMY FY25 | $48.2B | -0.2% | — | — | 14.6% | 26.7% |
| ABT FY25 | $44.3B | +5.7% | — | 18.2% | 14.7% | 16.7% |
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.