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 | $17.9B | $19.7B | $20.4B | $22.1B | $25.2B |
| YoY | — | +9.9% | +3.7% | +8.0% | +14.2% |
| Cost of goods sold | $11.1B | $12.3B | $12.6B | $13.4B | $15.0B |
| YoY | — | +10.6% | +2.5% | +6.2% | +12.2% |
| Gross profit | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Research & development | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Selling, general & administrative | $1.9B | $1.9B | $1.9B | $2.3B | $2.7B |
| YoY | — | +4.0% | -0.6% | +17.5% | +20.2% |
| Operating income | $3.0B | $3.4B | $3.6B | $4.1B | $4.3B |
| YoY | — | +13.5% | +6.2% | +13.7% | +6.0% |
| Pretax income | $2.3B | $2.9B | $3.0B | $3.5B | $3.4B |
| YoY | — | +24.2% | +3.5% | +14.5% | -0.9% |
| Income tax | $532.0M | $678.0M | $745.0M | $713.0M | $717.0M |
| YoY | — | +27.4% | +9.9% | -4.3% | +0.6% |
| Net income | $1.8B | $2.2B | $2.3B | $2.7B | $2.7B |
| YoY | — | +23.2% | +2.9% | +19.2% | -1.4% |
| EPS — basic | $4.32 | $5.42 | $5.69 | $6.84 | $6.72 |
| YoY | — | +25.5% | +5.0% | +20.2% | -1.8% |
| EPS — diluted | $4.29 | $5.39 | $5.66 | $6.81 | $6.70 |
| YoY | — | +25.6% | +5.0% | +20.3% | -1.6% |
| Weighted shares — basic | 420.4M | 412.8M | 404.9M | 401.5M | 402.7M |
| Weighted shares — diluted | 422.9M | 415.0M | 406.9M | 403.4M | 404.2M |
Balance sheet
Point-in-time values at each quarter (or fiscal year) end.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Cash & equivalents | $118.0M | $351.0M | $458.0M | $414.0M | $201.0M |
| YoY | — | +197.5% | +30.5% | -9.6% | -51.4% |
| Marketable securities (current) | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Accounts receivable | $2.3B | $2.5B | $2.6B | $3.3B | $3.4B |
| YoY | — | +8.0% | +7.0% | +24.3% | +5.0% |
| Inventory | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Total current assets | $3.1B | $3.6B | $3.8B | $4.8B | $4.9B |
| YoY | — | +15.7% | +7.1% | +25.5% | +2.8% |
| Total assets | $29.1B | $31.4B | $32.8B | $44.6B | $45.8B |
| YoY | — | +7.8% | +4.6% | +35.8% | +2.8% |
| Total current liabilities | $4.1B | $4.4B | $4.2B | $6.3B | $5.5B |
| YoY | — | +7.6% | -3.8% | +48.1% | -11.7% |
| Total liabilities | $22.0B | $24.5B | $25.9B | $36.3B | $35.8B |
| YoY | — | +11.5% | +5.8% | +40.1% | -1.3% |
| Total equity | $7.1B | $6.8B | $6.9B | $8.3B | $10.0B |
| YoY | — | -3.9% | +0.8% | +19.5% | +21.1% |
| Shares outstanding | 416.1M | 407.9M | 401.5M | 401.5M | 402.9M |
| YoY | — | -2.0% | -1.6% | +0.0% | +0.3% |
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 | $4.3B | $4.5B | $4.7B | $5.4B | $6.0B |
| YoY | — | +4.6% | +4.0% | +14.2% | +12.1% |
| Capital expenditures | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Free cash flow | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Dividends paid | — | — | — | — | — |
| YoY | — | — | — | — | — |
| Share repurchases | — | — | — | — | — |
| YoY | — | — | — | — | — |
Margins & ratios
Derived from the reported dollars above — no separate source.
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Gross margin | — | — | — | — | — |
| Operating margin | 16.5% | 17.1% | 17.5% | 18.4% | 17.1% |
| Net margin | 10.1% | 11.4% | 11.3% | 12.4% | 10.7% |
| Free cash flow margin | — | — | — | — | — |
| Effective tax rate | 22.6% | 23.2% | 24.7% | 20.6% | 20.9% |
| Current ratio | 0.75x | 0.81x | 0.90x | 0.76x | 0.89x |
| Total liabilities / equity | 3.08x | 3.58x | 3.76x | 4.40x | 3.59x |
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 |
|---|---|---|---|---|---|---|
| WM FY25 · this stock | $25.2B | +14.2% | — | 17.1% | 10.7% | — |
| 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.