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 | $2.7B | $2.7B | $3.0B | $2.8B | $2.9B | $3.2B | $3.0B | $3.1B |
| YoY | — | — | — | — | +10.2% | +16.6% | -0.6% | +9.8% |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | $170.0M | — | $194.0M | $168.0M | $168.0M | — | — | — |
| YoY | — | — | — | — | -1.2% | — | — | — |
| Operating income | $838.0M | $793.0M | $1.1B | $945.0M | $1.1B | $1.0B | $1.3B | $1.2B |
| YoY | — | — | — | — | +32.3% | +32.2% | +20.7% | +25.1% |
| Pretax income | $968.0M | $608.0M | $922.0M | $757.0M | $929.0M | $1.0B | $1.2B | $1.1B |
| YoY | — | — | — | — | -4.0% | +67.3% | +25.4% | +50.1% |
| Income tax | $227.0M | $91.0M | $193.0M | $174.0M | $246.0M | $244.0M | $244.0M | $260.0M |
| YoY | — | — | — | — | +8.4% | +168.1% | +26.4% | +49.4% |
| Net income | $706.0M | $486.0M | $691.0M | $546.0M | $647.0M | $734.0M | $865.0M | $827.0M |
| YoY | — | — | — | — | -8.4% | +51.0% | +25.2% | +51.5% |
| EPS — basic | $0.58 | — | $0.57 | $0.45 | $0.53 | — | $0.71 | $0.68 |
| YoY | — | — | — | — | -8.6% | — | +24.6% | +51.1% |
| EPS — diluted | $0.58 | — | $0.56 | $0.45 | $0.53 | — | $0.70 | $0.68 |
| YoY | — | — | — | — | -8.6% | — | +25.0% | +51.1% |
| Weighted shares — basic | 1.22B | — | 1.22B | 1.22B | 1.22B | — | 1.22B | 1.22B |
| Weighted shares — diluted | 1.22B | — | 1.23B | 1.22B | 1.23B | — | 1.23B | 1.23B |
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 | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.3B | $1.9B | $1.8B | $1.6B | $1.5B | $2.1B | $1.7B | $2.0B |
| YoY | — | — | — | — | +13.0% | +11.9% | -5.9% | +25.9% |
| Inventory | $275.0M | $279.0M | $249.0M | $335.0M | $339.0M | $314.0M | $262.0M | $335.0M |
| YoY | — | — | — | — | +23.3% | +12.5% | +5.2% | +0.0% |
| Total current assets | $2.7B | $2.7B | $2.5B | $3.2B | $2.3B | $3.2B | $3.3B | $3.1B |
| YoY | — | — | — | — | -15.8% | +21.9% | +31.0% | -3.0% |
| Total assets | $53.8B | $54.5B | $54.9B | $56.1B | $55.7B | $58.6B | $59.6B | $60.6B |
| YoY | — | — | — | — | +3.5% | +7.4% | +8.5% | +8.0% |
| Total current liabilities | $4.7B | $5.3B | $6.3B | $6.0B | $5.4B | $6.1B | $4.0B | $6.5B |
| YoY | — | — | — | — | +13.9% | +14.9% | -36.1% | +8.9% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $12.4B | $12.4B | $12.5B | $12.4B | $12.5B | $12.8B | $13.0B | $13.2B |
| YoY | — | — | — | — | +0.7% | +3.0% | +4.0% | +6.0% |
| Shares outstanding | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
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 | $1.2B | $1.2B | $1.4B | $1.4B | $1.4B | $1.6B | $1.6B | $1.4B |
| YoY | — | — | — | — | +15.8% | +29.4% | +11.9% | -5.1% |
| Capital expenditures | $682.0M | $768.0M | $1.0B | $972.0M | $954.0M | $2.0B | $1.4B | $1.8B |
| YoY | — | — | — | — | +39.9% | +154.6% | +34.3% | +88.7% |
| Free cash flow | $561.0M | $450.0M | $421.0M | $478.0M | $485.0M | $-379.0M | $244.0M | $-458.0M |
| YoY | — | — | — | — | -13.5% | -184.2% | -42.0% | -195.8% |
| 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 | 31.6% | 28.9% | 35.9% | 34.0% | 37.9% | 32.8% | 43.6% | 38.7% |
| Net margin | 26.6% | 17.7% | 22.7% | 19.6% | 22.1% | 23.0% | 28.5% | 27.1% |
| Free cash flow margin | 21.1% | 16.4% | 13.8% | 17.2% | 16.6% | -11.9% | 8.1% | -15.0% |
| Effective tax rate | 23.5% | 15.0% | 20.9% | 23.0% | 26.5% | 24.0% | 21.1% | 22.9% |
| Current ratio | 0.57x | 0.50x | 0.40x | 0.54x | 0.42x | 0.53x | 0.83x | 0.48x |
| Total liabilities / equity | — | — | — | — | — | — | — | — |
Peer comparison — latest full year
Same sector (Energy), sorted by revenue. All figures from the same EDGAR XBRL snapshot.
| Ticker | Revenue | Revenue YoY | Gross margin | Operating margin | Net margin | FCF margin |
|---|---|---|---|---|---|---|
| WMB FY25 · this stock | $11.9B | +13.8% | — | 35.1% | 21.9% | 8.4% |
| XOM FY25 | $332.2B | -5.0% | — | — | 8.7% | 7.1% |
| CVX FY25 | $189.0B | -6.8% | — | — | 6.5% | — |
| MPC FY25 | $132.7B | -4.4% | — | 6.2% | 3.0% | 3.6% |
| PSX FY25 | $132.4B | -7.5% | — | — | 3.3% | — |
| COP FY25 | $58.9B | +7.7% | — | — | 13.6% | — |
| SLB FY25 | $35.7B | -1.6% | — | — | 9.4% | 13.4% |
| OKE FY25 | $33.6B | +55.0% | — | 17.1% | 10.1% | 7.3% |
| BKR FY25 | $27.7B | -0.3% | — | — | 9.3% | — |
| OXY FY23 | $23.2B | -36.8% | — | — | — | 28.6% |
| EOG FY25 | $22.6B | -4.5% | — | 28.2% | 22.0% | — |
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.