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.
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 | $1.2B | $1.3B | $1.4B | $1.4B | $1.5B | $1.6B | $1.7B | $1.7B |
| YoY | — | — | — | — | +20.4% | +21.7% | +22.0% | +21.7% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | $19.1M | $-500K | $40.9M | $42.7M | $44.4M | $76.3M | $35.4M | $54.2M |
| YoY | — | — | — | — | +132.5% | +15360.0% | -13.4% | +26.9% |
| Income tax | $3.0M | $-45.5M | $-10.6M | $3.9M | $-6.3M | $-1.1M | $-15.9M | $-25.6M |
| YoY | — | — | — | — | -310.0% | +97.6% | -50.0% | -756.4% |
| Net income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| EPS — basic | $0.05 | — | $0.11 | $0.15 | $0.14 | — | $0.12 | $0.14 |
| YoY | — | — | — | — | +180.0% | — | +9.1% | -6.7% |
| EPS — diluted | $0.05 | — | $0.10 | $0.15 | $0.14 | — | $0.11 | $0.14 |
| YoY | — | — | — | — | +180.0% | — | +10.0% | -6.7% |
| Weighted shares — basic | 414.6M | — | 439.9M | 452.6M | 456.0M | — | 476.2M | 489.3M |
| Weighted shares — diluted | 419.5M | — | 446.4M | 459.1M | 463.4M | — | 486.7M | 497.7M |
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 | $1.1B | $897.9M | $182.3M | $614.2M | $188.6M | $741.1M | $183.6M | $199.0M |
| YoY | — | — | — | — | -82.9% | -17.5% | +0.7% | -67.6% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | $108.1M | $85.7M | $72.4M | $92.5M | $99.9M | $105.3M | $108.0M |
| YoY | — | — | — | — | — | -7.6% | +22.9% | +49.2% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $25.3B | $26.2B | $26.0B | $26.5B | $26.9B | $27.6B | $27.7B | $29.7B |
| YoY | — | — | — | — | +6.2% | +5.4% | +6.4% | +12.0% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $15.2B | $15.0B | $14.2B | $14.6B | $14.2B | $14.6B | $14.1B | $14.4B |
| YoY | — | — | — | — | -6.8% | -2.8% | -0.4% | -0.8% |
| Total equity | $9.8B | $10.8B | $11.5B | $11.5B | $12.4B | $12.5B | $13.1B | $14.6B |
| YoY | — | — | — | — | +26.7% | +16.3% | +14.4% | +27.1% |
| Shares outstanding | 419.3M | 437.1M | 451.2M | 454.2M | 469.4M | 474.9M | 486.1M | 512.9M |
| YoY | — | — | — | — | +11.9% | +8.6% | +7.7% | +12.9% |
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 | $353.7M | $373.6M | $321.1M | $475.3M | $378.6M | $471.7M | $394.6M | $556.5M |
| YoY | — | — | — | — | +7.0% | +26.3% | +22.9% | +17.1% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
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 | — | — | — | — | — | — | — | — |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | 15.7% | 9100.0% | -25.9% | 9.1% | -14.2% | -1.4% | -44.9% | -47.2% |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 1.56x | 1.40x | 1.24x | 1.26x | 1.14x | 1.17x | 1.08x | 0.99x |
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 |
|---|---|---|---|---|---|---|
| VTR FY09 · this stock | $923.5M | -0.0% | — | — | — | — |
| 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% | — |
| PSA FY25 | $4.8B | +2.7% | — | — | 37.0% | — |
| 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% | — |
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.