| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $841M | $844M | $759M | -0.5% | 10.8% |
| Op. Income | $199M | $177M | $175M | 12.7% | 13.5% |
| Gross Margin | 66.6% | 63.4% | 57.0% | 3.2pp | 9.6pp |
| Net Margin | 21.1% | 16.7% | 17.9% | 4.4pp | 3.1pp |
| EPS (Diluted) | $2.91 | $2.22 | $2.12 | 31.1% | 37.3% |
| Free Cash Flow | $838M | $839M | $494M | -0.0% | 69.7% |
| Item | Amount |
|---|---|
| REVENUE | $841M |
| Cost of Revenue | $281M |
| GROSS PROFIT | $560M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $223M |
| SG&A Expenses | $223M |
| Other Expenses | $138M |
| Operating Expenses | $361M |
| Cost & Expenses | $642M |
| OPERATING INCOME | $199M |
| Interest Income | $626M |
| Interest Expense | $281M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $199M |
| Income Tax Expense | $22M |
| Net Income from Continuing Ops | $177M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $177M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $177M |
| D&A | $0 |
| EBIT | $199M |
| EBITDA | $199M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $841M |
| Cost of Revenue | $281M |
| GROSS PROFIT | $560M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $223M |
| SG&A Expenses | $223M |
| Other Expenses | $138M |
| Operating Expenses | $361M |
| Cost & Expenses | $642M |
| OPERATING INCOME | $199M |
| Interest Income | $626M |
| Interest Expense | $281M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $199M |
| Income Tax Expense | $22M |
| Net Income from Continuing Ops | $177M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $177M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $177M |
| D&A | $0 |
| EBIT | $199M |
| EBITDA | $199M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $177M |
| Depreciation & Amortization | $28M |
| Stock-Based Compensation | $5M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.1B |
| Change in Working Capital | -$416M |
| OPERATING CASH FLOW | $897M |
| Capital Expenditure | -$58M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1.9B |
| NET CASH FROM INVESTING | -$1.9B |
| Net Debt Issuance | $13M |
| Common Stock Repurchased | -$309M |
| Common Dividends Paid | -$38M |
| Other Financing Activities | $1.5B |
| NET CASH FROM FINANCING | $1.2B |
| FREE CASH FLOW | $838M |
| Net Change in Cash | $232M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.7B |
| Short-Term Investments | $5.4B |
| Net Receivables | $355M |
| Inventory | $0 |
| Other Current Assets | $95M |
| TOTAL CURRENT ASSETS | $7.5B |
| PP&E (Net) | $639M |
| Goodwill | $1.0B |
| Intangible Assets | $35M |
| Long-Term Investments | $15.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $27.3B |
| TOTAL NON-CURRENT ASSETS | $44.7B |
| TOTAL ASSETS | $52.2B |
| Account Payables | $383M |
| Short-Term Debt | $4.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $39.1B |
| TOTAL CURRENT LIABILITIES | $45.0B |
| Long-Term Debt | $397M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $874M |
| TOTAL NON-CURRENT LIABILITIES | $1.3B |
| TOTAL LIABILITIES | $46.3B |
| Common Stock | $5.0K |
| Additional Paid-In Capital | $1.4B |
| Retained Earnings | $6.0B |
| Treasury Stock | -$1.4B |
| Accum. Other Comp. Income | -$166M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $5.9B |
| Minority Interest | $2M |
| TOTAL EQUITY | $5.9B |
| TOTAL LIABILITIES & EQUITY | $52.2B |
| Total Debt | $4.6B |
| Net Debt | $3.0B |
