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 | $21.8B | $24.9B | $24.1B | $24.2B | $24.5B |
| YoY | — | +14.1% | -3.0% | +0.5% | +1.1% |
| Cost of goods sold | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Operating income | $9.3B | $9.9B | $9.1B | $9.7B | $9.8B |
| YoY | — | +6.2% | -8.4% | +6.9% | +1.4% |
| Pretax income | $8.5B | $9.1B | $8.2B | $8.8B | $9.2B |
| YoY | — | +7.0% | -9.2% | +6.8% | +4.2% |
| Income tax | $2.0B | $2.1B | $1.9B | $2.0B | $2.0B |
| YoY | — | +6.1% | -10.6% | +10.4% | -0.9% |
| Net income | $6.5B | $7.0B | $6.4B | $6.7B | $7.1B |
| YoY | — | +7.3% | -8.8% | +5.8% | +5.8% |
| EPS — basic | $9.98 | $11.24 | $10.47 | $11.10 | $12.00 |
| YoY | — | +12.6% | -6.9% | +6.0% | +8.1% |
| EPS — diluted | $9.95 | $11.21 | $10.45 | $11.09 | $11.98 |
| YoY | — | +12.7% | -6.8% | +6.1% | +8.0% |
| Weighted shares — basic | 653.8M | 622.7M | 609.2M | 607.6M | 595.0M |
| Weighted shares — diluted | 655.4M | 624.0M | 610.2M | 608.6M | 595.9M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $960.0M | $973.0M | $1.1B | $1.0B | $1.3B |
| YoY | — | +1.4% | +8.4% | -3.7% | +24.6% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $1.7B | $1.9B | $2.1B | $1.9B | $1.9B |
| YoY | — | +9.8% | +9.6% | -8.6% | -1.8% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $3.6B | $4.0B | $4.1B | $4.0B | $4.6B |
| YoY | — | +11.3% | +5.0% | -3.1% | +13.3% |
| Total assets | $63.5B | $65.4B | $67.1B | $67.7B | $69.7B |
| YoY | — | +3.0% | +2.6% | +0.9% | +2.9% |
| Total current liabilities | $5.7B | $5.5B | $5.1B | $5.3B | $5.0B |
| YoY | — | -3.9% | -7.5% | +2.9% | -4.6% |
| Total liabilities | $49.4B | $53.3B | $52.3B | $50.8B | $51.2B |
| YoY | — | +7.9% | -1.8% | -2.9% | +0.8% |
| Total equity | $14.2B | $12.2B | $14.8B | $16.9B | $18.5B |
| YoY | — | -14.1% | +21.6% | +14.2% | +9.3% |
| Shares outstanding | 638.8M | 612.4M | 609.7M | 604.2M | 593.2M |
| YoY | — | -4.1% | -0.4% | -0.9% | -1.8% |
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 | $9.0B | $9.4B | $8.4B | $9.3B | $9.3B |
| YoY | — | +3.7% | -10.5% | +11.5% | -0.6% |
| Capital expenditures | $2.9B | $3.6B | $3.6B | $3.5B | $3.8B |
| YoY | — | +23.3% | -0.4% | -4.3% | +9.8% |
| Free cash flow | $6.1B | $5.7B | $4.8B | $5.9B | $5.5B |
| YoY | — | -5.8% | -16.9% | +23.5% | -6.7% |
| Dividends paid | $2.8B | $3.2B | $3.2B | $3.2B | $3.2B |
| YoY | — | +12.8% | +0.4% | +1.3% | +0.7% |
| Share repurchases | $7.3B | $6.3B | $705.0M | $1.5B | $2.7B |
| YoY | — | -13.8% | -88.8% | +113.5% | +78.0% |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 42.8% | 39.9% | 37.7% | 40.1% | 40.2% |
| Net margin | 29.9% | 28.1% | 26.4% | 27.8% | 29.1% |
| Free cash flow margin | 28.0% | 23.1% | 19.8% | 24.3% | 22.4% |
| Effective tax rate | 23.1% | 22.9% | 22.5% | 23.3% | 22.1% |
| Current ratio | 0.62x | 0.72x | 0.81x | 0.77x | 0.91x |
| Total liabilities / equity | 3.49x | 4.38x | 3.54x | 3.01x | 2.77x |
Peer comparison — latest full year
Same sector (Industrials), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| UNP FY25 · this stock | $24.5B | +1.1% | — | 40.2% | 29.1% | 22.4% |
| FDX FY26 | $94.7B | +7.7% | — | 5.8% | 4.7% | — |
| BA FY25 | $89.5B | +34.5% | 4.8% | 4.8% | 2.5% | -2.1% |
| UPS FY25 | $88.7B | -2.6% | — | 8.9% | 6.3% | 5.4% |
| RTX FY25 | $88.6B | +9.7% | — | 10.5% | 7.6% | 9.0% |
| LMT FY25 | $75.0B | +5.6% | 10.2% | 10.3% | 6.7% | — |
| GD FY25 | $52.5B | +10.1% | — | 10.2% | 8.0% | 7.5% |
| UBER FY25 | $52.0B | +18.3% | — | 10.7% | 19.3% | 18.8% |
| GE FY25 | $45.9B | +18.5% | — | — | 19.0% | — |
| DE FY25 | $45.7B | -11.7% | — | — | 11.0% | 13.4% |
| CAT FY10 | $42.6B | +31.5% | — | 9.3% | — | — |
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.