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 | $2.8B | $2.9B | $2.8B | $3.0B | $3.1B | $3.2B | $3.0B | $3.3B |
| YoY | — | — | — | — | +11.0% | +9.5% | +7.8% | +12.5% |
| Cost of goods sold | $392.6M | $423.4M | $363.0M | $407.5M | $414.8M | $466.0M | $392.8M | $489.2M |
| YoY | — | — | — | — | +5.7% | +10.1% | +8.2% | +20.0% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $371.8M | $377.6M | $396.4M | $424.6M | $445.1M | $487.0M | $493.7M | $582.2M |
| YoY | — | — | — | — | +19.7% | +29.0% | +24.5% | +37.1% |
| Operating income | $1.1B | $1.0B | $630.1M | $1.2B | $1.2B | $1.2B | $1.1B | $1.2B |
| YoY | — | — | — | — | +6.3% | +17.5% | +80.6% | +8.3% |
| Pretax income | $1.2B | $1.1B | $730.4M | $1.3B | $1.3B | $1.3B | $1.3B | $1.4B |
| YoY | — | — | — | — | +6.1% | +17.1% | +71.5% | +8.5% |
| Income tax | $178.7M | $223.5M | $84.1M | $250.1M | $215.9M | $139.9M | $221.5M | $292.0M |
| YoY | — | — | — | — | +20.8% | -37.4% | +163.4% | +16.8% |
| Net income | $1.0B | $913.0M | $646.3M | $1.0B | $1.1B | $1.2B | $1.0B | $1.1B |
| YoY | — | — | — | — | +3.6% | +30.5% | +59.6% | +6.5% |
| EPS — basic | $4.05 | — | $2.52 | $4.02 | $4.24 | — | $4.06 | $4.34 |
| YoY | — | — | — | — | +4.7% | — | +61.1% | +8.0% |
| EPS — diluted | $4.01 | — | $2.49 | $3.99 | $4.20 | — | $4.02 | $4.31 |
| YoY | — | — | — | — | +4.7% | — | +61.4% | +8.0% |
| Weighted shares — basic | 258.0M | — | 256.9M | 256.7M | 255.6M | — | 254.1M | 253.7M |
| Weighted shares — diluted | 261.0M | — | 259.5M | 258.9M | 257.6M | — | 256.3M | 255.2M |
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 | $5.2B | $4.6B | $4.7B | $5.0B | $4.9B | $5.1B | $5.5B | $6.1B |
| YoY | — | — | — | — | -5.7% | +11.3% | +17.5% | +23.6% |
| Marketable securities (current) | $1.3B | $1.5B | $1.5B | $1.4B | $1.3B | $1.5B | $1.8B | $1.7B |
| YoY | — | — | — | — | +4.8% | -1.5% | +14.9% | +21.1% |
| Accounts receivable | $1.8B | $1.6B | $1.8B | $1.9B | $1.9B | $2.1B | $2.0B | $2.1B |
| YoY | — | — | — | — | +11.2% | +27.6% | +10.6% | +12.7% |
| Inventory | $1.1B | $1.2B | $1.4B | $1.5B | $1.6B | $1.7B | $1.8B | $1.8B |
| YoY | — | — | — | — | +50.7% | +39.9% | +29.9% | +17.7% |
| Total current assets | $9.8B | $9.6B | $10.0B | $10.4B | $10.6B | $11.2B | $11.7B | $12.5B |
| YoY | — | — | — | — | +7.8% | +16.7% | +17.2% | +20.3% |
| Total assets | $22.2B | $22.5B | $22.9B | $24.0B | $24.9B | $25.6B | $26.5B | $27.4B |
| YoY | — | — | — | — | +11.8% | +13.8% | +15.8% | +14.1% |
| Total current liabilities | $4.0B | $3.6B | $3.8B | $4.1B | $4.5B | $3.9B | $3.9B | $3.9B |
| YoY | — | — | — | — | +12.6% | +8.3% | +2.6% | -4.8% |
| Total liabilities | $6.6B | $6.1B | $6.4B | $6.9B | $7.5B | $7.0B | $7.1B | $7.2B |
| YoY | — | — | — | — | +14.1% | +13.9% | +11.6% | +4.6% |
| Total equity | $15.6B | $16.4B | $16.5B | $17.2B | $17.3B | $18.7B | $19.4B | $20.2B |
| YoY | — | — | — | — | +10.8% | +13.7% | +17.4% | +17.9% |
| Shares outstanding | 257.7M | 256.9M | 257.0M | 256.3M | 254.0M | 254.0M | 254.2M | 253.3M |
| YoY | — | — | — | — | -1.4% | -1.1% | -1.1% | -1.2% |
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 | $1.4B | $584.6M | $818.9M | $1.1B | $1.2B | $498.0M | $1.4B | $1.1B |
| YoY | — | — | — | — | -9.4% | -14.8% | +74.4% | +4.9% |
| Capital expenditures | $67.7M | $92.6M | $40.7M | $145.7M | $101.8M | $149.4M | $133.4M | $112.2M |
| YoY | — | — | — | — | +50.4% | +61.3% | +227.8% | -23.0% |
| Free cash flow | $1.3B | $492.0M | $778.2M | $927.4M | $1.1B | $348.6M | $1.3B | $1.0B |
| YoY | — | — | — | — | -12.5% | -29.1% | +66.4% | +9.3% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $307.7M | $417.9M | $426.1M | $391.8M | $1.1B | $128.4M | $336.9M | $469.5M |
| YoY | — | — | — | — | +248.1% | -69.3% | -20.9% | +19.8% |
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 | 40.3% | 35.2% | 22.7% | 38.8% | 38.6% | 37.8% | 38.1% | 37.4% |
| Net margin | 37.7% | 31.4% | 23.3% | 34.8% | 35.2% | 37.3% | 34.5% | 33.0% |
| Free cash flow margin | 47.0% | 16.9% | 28.1% | 31.3% | 37.0% | 10.9% | 43.3% | 30.4% |
| Effective tax rate | 14.6% | 19.7% | 11.5% | 19.5% | 16.6% | 10.5% | 17.7% | 21.0% |
| Current ratio | 2.47x | 2.69x | 2.65x | 2.52x | 2.36x | 2.90x | 3.02x | 3.19x |
| Total liabilities / equity | 0.42x | 0.37x | 0.39x | 0.40x | 0.44x | 0.37x | 0.37x | 0.35x |
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 |
|---|---|---|---|---|---|---|
| VRTX FY25 · this stock | $12.0B | +8.9% | — | 34.8% | 32.9% | 26.6% |
| 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% |
| TMO FY25 | $44.6B | +3.9% | — | 17.4% | 15.0% | 14.1% |
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.