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.
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 | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Cost of goods sold | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Research & development | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Selling, general & administrative | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Operating income | $911.0M | $347.0M | $677.0M | $577.0M | $749.0M | $580.0M | $754.0M | $706.0M |
| YoY | — | — | — | — | -17.8% | +67.1% | +11.4% | +22.4% |
| Pretax income | $692.0M | $167.0M | $422.0M | $384.0M | $532.0M | $435.0M | $509.0M | $526.0M |
| YoY | — | — | — | — | -23.1% | +160.5% | +20.6% | +37.0% |
| Income tax | $10.0M | $-297.0M | $-61.0M | $-60.0M | $8.0M | $-132.0M | $-47.0M | $-60.0M |
| YoY | — | — | — | — | -20.0% | +55.6% | +23.0% | +0.0% |
| Net income | $682.0M | $464.0M | $483.0M | $444.0M | $524.0M | $567.0M | $556.0M | $586.0M |
| YoY | — | — | — | — | -23.2% | +22.2% | +15.1% | +32.0% |
| EPS — basic | $1.21 | — | $0.84 | $0.76 | $0.88 | — | $0.89 | $0.94 |
| YoY | — | — | — | — | -27.3% | — | +6.0% | +23.7% |
| EPS — diluted | $1.21 | — | $0.84 | $0.75 | $0.88 | — | $0.89 | $0.93 |
| YoY | — | — | — | — | -27.3% | — | +6.0% | +24.0% |
| Weighted shares — basic | 564.0M | — | 575.0M | 586.0M | 592.0M | — | 624.0M | 625.0M |
| Weighted shares — diluted | 565.0M | — | 577.0M | 588.0M | 595.0M | — | 626.0M | 627.0M |
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 | $1.5B | $179.0M | $1.1B | $1.5B | $1.1B | $274.0M | $1.8B | $2.0B |
| YoY | — | — | — | — | -31.9% | +53.1% | +56.7% | +38.2% |
| Marketable securities (current) | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Accounts receivable | $1.2B | $1.2B | $1.3B | $1.1B | $1.2B | $1.3B | $1.3B | $1.3B |
| YoY | — | — | — | — | +5.0% | +6.5% | +4.6% | +10.8% |
| Inventory | $638.0M | $666.0M | $625.0M | $668.0M | $723.0M | $761.0M | $709.0M | $745.0M |
| YoY | — | — | — | — | +13.3% | +14.3% | +13.4% | +11.5% |
| Total current assets | $5.5B | $4.3B | $5.4B | $5.7B | $5.7B | $5.0B | $5.9B | $6.1B |
| YoY | — | — | — | — | +3.9% | +15.9% | +9.6% | +7.3% |
| Total assets | $69.3B | $70.0B | $72.7B | $75.3B | $79.2B | $81.4B | $84.8B | $87.2B |
| YoY | — | — | — | — | +14.2% | +16.2% | +16.6% | +15.7% |
| Total current liabilities | $5.9B | $6.5B | $6.7B | $5.9B | $7.1B | $7.1B | $7.6B | $8.7B |
| YoY | — | — | — | — | +22.0% | +9.8% | +13.3% | +47.3% |
| Total liabilities | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Total equity | $19.4B | $19.5B | $19.8B | $21.0B | $21.2B | $23.6B | $23.8B | $24.1B |
| YoY | — | — | — | — | +9.5% | +20.9% | +20.2% | +14.8% |
| Shares outstanding | 574.1M | 574.4M | 576.5M | 591.2M | 591.4M | 623.6M | 624.2M | 624.4M |
| YoY | — | — | — | — | +3.0% | +8.6% | +8.3% | +5.6% |
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 | $1.7B | $664.0M | $1.0B | $1.1B | $1.8B | $209.0M | $1.7B | $1.1B |
| YoY | — | — | — | — | +1.6% | -68.5% | +65.1% | +1.8% |
| Capital expenditures | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Free cash flow | — | — | — | — | — | — | — | — |
| YoY | — | — | — | — | — | — | — | — |
| Dividends paid | $296.0M | $304.0M | $306.0M | $319.0M | $329.0M | $328.0M | $347.0M | $361.0M |
| YoY | — | — | — | — | +11.1% | +7.9% | +13.4% | +13.2% |
| 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 | 1.4% | -177.8% | -14.5% | -15.6% | 1.5% | -30.3% | -9.2% | -11.4% |
| Current ratio | 0.93x | 0.67x | 0.80x | 0.96x | 0.79x | 0.71x | 0.77x | 0.70x |
| 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 |
|---|---|---|---|---|---|---|
| XEL FY25 · this stock | — | — | — | — | — | — |
| 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.