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.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B | $2.4B | $2.5B | $2.7B | $3.2B | $3.4B | $3.5B | $3.7B |
| YoY | — | — | — | — | +41.3% | +38.3% | +39.1% | +38.4% |
| Cost of goods sold | $1.4B | $1.5B | $1.5B | $1.6B | $1.9B | $2.1B | $2.2B | $2.2B |
| YoY | — | — | — | — | +37.2% | +40.5% | +41.9% | +42.4% |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $48.7M | $63.8M | $64.2M | $63.1M | $1.6B | $67.5M | $67.5M | $67.2M |
| YoY | — | — | — | — | +3097.9% | +5.8% | +5.1% | +6.5% |
| Operating income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Pretax income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Income tax | $100K | $-5.5M | $1.1M | $2.3M | $-5.0M | $11.6M | $-62.0M | $7.1M |
| YoY | — | — | — | — | -5100.0% | +310.9% | -5736.4% | +208.7% |
| Net income | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| EPS — basic | — | $0.40 | $0.46 | $0.42 | — | $1.04 | $0.63 | $0.55 |
| YoY | — | — | — | — | — | +160.0% | +37.0% | +31.0% |
| EPS — diluted | — | $0.40 | $0.45 | $0.41 | — | $1.02 | $0.61 | $0.54 |
| YoY | — | — | — | — | — | +155.0% | +35.6% | +31.7% |
| Weighted shares — basic | — | 643.4M | 656.6M | 672.4M | — | 699.8M | 709.7M | 724.3M |
| Weighted shares — diluted | — | 653.8M | 668.1M | 685.4M | — | 726.3M | 738.0M | 754.9M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $3.5B | $3.5B | $4.4B | $6.8B | $5.0B | $4.7B | $2.0B | $2.3B |
| YoY | — | — | — | — | +43.5% | +34.3% | -55.4% | -66.6% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Inventory | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total assets | $51.0B | $53.3B | $55.8B | $59.5B | $67.3B | $67.2B | $69.9B | $73.7B |
| YoY | — | — | — | — | +31.9% | +26.1% | +25.1% | +23.9% |
| Total current liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total liabilities | $18.5B | $18.7B | $19.3B | $20.2B | $24.1B | $22.3B | $22.2B | $23.8B |
| YoY | — | — | — | — | +30.5% | +19.1% | +15.2% | +18.1% |
| Total equity | $32.0B | $34.0B | $35.9B | $38.8B | $42.1B | $43.8B | $46.4B | $48.6B |
| YoY | — | — | — | — | +31.8% | +29.0% | +29.3% | +25.4% |
| Shares outstanding | 635.3M | 651.9M | 665.1M | 684.1M | 696.5M | 704.7M | 718.9M | 732.0M |
| YoY | — | — | — | — | +9.6% | +8.1% | +8.1% | +7.0% |
Cash flow
Quarterly values derived from year-to-date filings (Q4 from the 10-K). Free cash flow = operating cash flow − capital expenditures.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $559.2M | $599.0M | $770.0M | $858.4M | $654.3M | $670.0M | $1.0B | $1.0B |
| YoY | — | — | — | — | +17.0% | +11.9% | +30.3% | +16.8% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | $418.2M | $432.4M | $439.1M | $496.9M | $509.6M | $520.5M | $524.4M | $614.5M |
| YoY | — | — | — | — | +21.9% | +20.4% | +19.4% | +23.7% |
| Share repurchases | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — |
| Net margin | — | — | — | — | — | — | — | — |
| Free cash flow margin | — | — | — | — | — | — | — | — |
| Effective tax rate | — | — | — | — | — | — | — | — |
| Current ratio | — | — | — | — | — | — | — | — |
| Total liabilities / equity | 0.58x | 0.55x | 0.54x | 0.52x | 0.57x | 0.51x | 0.48x | 0.49x |
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 |
|---|---|---|---|---|---|---|
| WELL FY11 · this stock | $1.3B | +127.0% | — | — | — | — |
| 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.