| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.6B | $2.7B | $3.3B | 34.6% | 11.5% |
| Op. Income | $411M | $156M | $416M | 164.2% | -1.0% |
| Gross Margin | 40.1% | 40.6% | 42.9% | -0.5pp | -2.8pp |
| Net Margin | 8.5% | 3.9% | 8.0% | 4.6pp | 0.5pp |
| EPS (Diluted) | $4.84 | $1.63 | $4.02 | 196.9% | 20.4% |
| Free Cash Flow | -$62M | $739M | $188M | -108.4% | -133.1% |
| Item | Amount |
|---|---|
| REVENUE | $3.6B |
| Cost of Revenue | $2.2B |
| GROSS PROFIT | $1.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.1B |
| Other Expenses | $0 |
| Operating Expenses | $1.1B |
| Cost & Expenses | $3.2B |
| OPERATING INCOME | $411M |
| Interest Income | $7M |
| Interest Expense | $19M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $418M |
| Income Tax Expense | $107M |
| Net Income from Continuing Ops | $310M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $310M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $310M |
| D&A | $132M |
| EBIT | $411M |
| EBITDA | $543M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $3.6B |
| Cost of Revenue | $2.2B |
| GROSS PROFIT | $1.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.1B |
| Other Expenses | $0 |
| Operating Expenses | $1.1B |
| Cost & Expenses | $3.2B |
| OPERATING INCOME | $411M |
| Interest Income | $7M |
| Interest Expense | $19M |
| Other Income/Expenses | $7M |
| INCOME BEFORE TAX | $418M |
| Income Tax Expense | $107M |
| Net Income from Continuing Ops | $310M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $310M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $310M |
| D&A | $132M |
| EBIT | $411M |
| EBITDA | $543M |
| EPS | $5 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $310M |
| Depreciation & Amortization | $132M |
| Stock-Based Compensation | $25M |
| Deferred Income Tax | $4M |
| Other Non-Cash Items | $16M |
| Change in Working Capital | $450M |
| OPERATING CASH FLOW | $938M |
| Capital Expenditure | -$1000M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$23M |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $23M |
| NET CASH FROM INVESTING | -$217M |
| Net Debt Issuance | -$4M |
| Common Stock Repurchased | -$60M |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$7M |
| NET CASH FROM FINANCING | -$72M |
| FREE CASH FLOW | -$62M |
| Net Change in Cash | $648M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.2B |
| Short-Term Investments | $0 |
| Net Receivables | $105M |
| Inventory | $1.3B |
| Other Current Assets | $122M |
| TOTAL CURRENT ASSETS | $2.8B |
| PP&E (Net) | $6.8B |
| Goodwill | $0 |
| Intangible Assets | $285M |
| Long-Term Investments | $0 |
| Tax Assets | $2M |
| Other Non-Current Assets | $71M |
| TOTAL NON-CURRENT ASSETS | $7.1B |
| TOTAL ASSETS | $9.9B |
| Account Payables | $1.0B |
| Short-Term Debt | $496M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $734M |
| TOTAL CURRENT LIABILITIES | $2.2B |
| Long-Term Debt | $2.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $278M |
| Other Non-Current Liabilities | $76M |
| TOTAL NON-CURRENT LIABILITIES | $5.9B |
| TOTAL LIABILITIES | $8.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $1.8B |
| TOTAL STOCKHOLDERS' EQUITY | $1.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $1.8B |
| TOTAL LIABILITIES & EQUITY | $9.9B |
| Total Debt | $6.0B |
| Net Debt | $4.8B |
