| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $2.8B | $3.7B | — | -22.7% | — |
| Op. Income | $482M | $774M | — | -37.7% | — |
| Gross Margin | 26.8% | 29.6% | — | -2.8pp | — |
| Net Margin | 10.5% | 14.8% | — | -4.3pp | — |
| EPS (Diluted) | $0.54 | $0.99 | — | -45.5% | — |
| Free Cash Flow | $1.6B | $669M | — | 146.2% | — |
| Item | Amount |
|---|---|
| REVENUE | $2.8B |
| Cost of Revenue | $2.1B |
| GROSS PROFIT | $760M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $278M |
| Other Expenses | $0 |
| Operating Expenses | $278M |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $482M |
| Interest Income | $0 |
| Interest Expense | $85M |
| Other Income/Expenses | -$84M |
| INCOME BEFORE TAX | $398M |
| Income Tax Expense | $100M |
| Net Income from Continuing Ops | $298M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $298M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $298M |
| D&A | $244M |
| EBIT | $482M |
| EBITDA | $726M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $2.8B |
| Cost of Revenue | $2.1B |
| GROSS PROFIT | $760M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $278M |
| Other Expenses | $0 |
| Operating Expenses | $278M |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $482M |
| Interest Income | $0 |
| Interest Expense | $85M |
| Other Income/Expenses | -$84M |
| INCOME BEFORE TAX | $398M |
| Income Tax Expense | $100M |
| Net Income from Continuing Ops | $298M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $298M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $298M |
| D&A | $244M |
| EBIT | $482M |
| EBITDA | $726M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $298M |
| Depreciation & Amortization | $244M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $325M |
| Change in Working Capital | $937M |
| OPERATING CASH FLOW | $1.8B |
| Capital Expenditure | -$157M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | -$150M |
| Net Debt Issuance | -$31M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$546M |
| NET CASH FROM FINANCING | -$577M |
| FREE CASH FLOW | $1.6B |
| Net Change in Cash | $1.1B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $0 |
| Net Receivables | $1.1B |
| Inventory | $1.6B |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $4.7B |
| PP&E (Net) | $8.5B |
| Goodwill | $9.0B |
| Intangible Assets | $1.7B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $277M |
| TOTAL NON-CURRENT ASSETS | $19.6B |
| TOTAL ASSETS | $24.2B |
| Account Payables | $1.5B |
| Short-Term Debt | $333M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $850M |
| TOTAL CURRENT LIABILITIES | $2.9B |
| Long-Term Debt | $4.9B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $2.7B |
| TOTAL NON-CURRENT LIABILITIES | $8.1B |
| TOTAL LIABILITIES | $11.0B |
| Common Stock | $13.3B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $13.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $13.3B |
| TOTAL LIABILITIES & EQUITY | $24.2B |
| Total Debt | $5.9B |
| Net Debt | $4.0B |
