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 | $1.9B | $2.3B | $3.1B | $2.0B | $2.1B | $2.5B | $3.4B | $2.1B |
| YoY | — | — | — | — | +12.9% | +11.1% | +9.0% | +2.6% |
| Cost of goods sold | $520.8M | $738.4M | $1.2B | $570.5M | $608.1M | $921.5M | $1.4B | $555.6M |
| YoY | — | — | — | — | +16.8% | +24.8% | +19.3% | -2.6% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $383.7M | $590.9M | $937.5M | $404.9M | $449.6M | $452.9M | $980.0M | $432.8M |
| YoY | — | — | — | — | +17.2% | -23.4% | +4.5% | +6.9% |
| Pretax income | $270.2M | $514.2M | $786.2M | $262.5M | $304.6M | $320.2M | $859.2M | $328.0M |
| YoY | — | — | — | — | +12.7% | -37.7% | +9.3% | +25.0% |
| Income tax | $31.6M | $61.1M | $60.7M | $19.5M | $34.4M | $3.4M | $53.1M | $27.0M |
| YoY | — | — | — | — | +8.9% | -94.4% | -12.5% | +38.5% |
| Net income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| EPS — basic | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| EPS — diluted | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Weighted shares — basic | 316.2M | — | 318.2M | 320.3M | 323.5M | — | 325.6M | 325.8M |
| Weighted shares — diluted | 316.5M | — | 319.3M | 322.2M | 325.6M | — | 328.3M | 328.9M |
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 | $322.5M | $9.8M | $82.2M | $23.0M | $51.1M | $27.6M | $45.6M | $50.0M |
| YoY | — | — | — | — | -84.2% | +181.6% | -44.5% | +117.4% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.2B | $1.7B | $1.8B | $1.5B | $1.3B | $2.1B | $1.9B | $1.5B |
| YoY | — | — | — | — | +8.0% | +23.6% | +5.6% | +2.2% |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | $2.6B | $2.9B | $2.9B | $2.6B | $2.5B | $3.3B | $3.0B | $2.8B |
| YoY | — | — | — | — | -4.0% | +12.8% | +1.3% | +7.0% |
| Total assets | $45.2B | $47.4B | $48.2B | $48.5B | $49.8B | $51.5B | $51.7B | $52.8B |
| YoY | — | — | — | — | +10.2% | +8.8% | +7.3% | +8.7% |
| Total current liabilities | $4.0B | $4.8B | $5.9B | $4.7B | $5.1B | $5.6B | $4.4B | $5.2B |
| YoY | — | — | — | — | +26.0% | +15.5% | -25.1% | +10.9% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Shares outstanding | 316.4M | 317.7M | 319.1M | 321.9M | 325.3M | 325.5M | 325.7M | 325.8M |
| YoY | — | — | — | — | +2.8% | +2.5% | +2.1% | +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 | $729.0M | $581.8M | $1.2B | $853.3M | $938.9M | $424.6M | $1.2B | $992.3M |
| YoY | — | — | — | — | +28.8% | -27.0% | +4.8% | +16.3% |
| Capital expenditures | $796.3M | — | $701.1M | $829.4M | $1.6B | — | $817.9M | $1.3B |
| YoY | — | — | — | — | +96.5% | — | +16.7% | +52.2% |
| Free cash flow | $-67.3M | — | $461.5M | $23.9M | $-625.7M | — | $400.5M | $-269.7M |
| YoY | — | — | — | — | -829.7% | — | -13.2% | -1228.5% |
| Dividends paid | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Share repurchases | $0 | $0 | $1.3M | $0 | $0 | $0 | — | — |
| 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 | 20.6% | 25.9% | 29.8% | 20.1% | 21.4% | 17.9% | 28.5% | 21.0% |
| Net margin | — | — | — | — | — | — | — | — |
| Free cash flow margin | -3.6% | — | 14.7% | 1.2% | -29.7% | — | 11.7% | -13.1% |
| Effective tax rate | 11.7% | 11.9% | 7.7% | 7.4% | 11.3% | 1.1% | 6.2% | 8.2% |
| Current ratio | 0.65x | 0.60x | 0.50x | 0.55x | 0.50x | 0.59x | 0.68x | 0.53x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Utilities), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| WEC FY15 · this stock | $5.9B | +18.6% | — | 21.1% | — | — |
| SO FY25 | $29.6B | +10.6% | — | 24.7% | — | -9.9% |
| CEG FY25 | $25.5B | +8.3% | — | 12.1% | 9.1% | 5.0% |
| EXC FY12 | $23.5B | +23.2% | — | 10.1% | — | 1.5% |
| EIX FY25 | $19.3B | +9.8% | — | 36.7% | 23.1% | -3.7% |
| VST FY25 | $17.7B | +3.0% | — | 10.7% | 5.3% | 7.4% |
| ED FY25 | $16.9B | +10.9% | — | 17.3% | 12.0% | — |
| D FY25 | $16.5B | +14.2% | — | 26.7% | 18.2% | — |
| FE FY25 | $15.1B | +12.0% | — | 14.6% | 6.8% | — |
| AEP FY13 | $14.8B | -0.9% | — | 19.1% | — | — |
| SRE FY25 | $13.7B | +3.9% | — | — | 13.4% | — |
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.