| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6.3B | $8.2B | $5.9B | -22.4% | 6.6% |
| Op. Income | $734M | $2.3B | $561M | -67.7% | 30.8% |
| Gross Margin | 26.7% | 46.2% | 35.4% | -19.5pp | -8.7pp |
| Net Margin | 6.7% | 22.7% | 5.1% | -16.0pp | 1.6pp |
| EPS (Diluted) | $0.31 | $1.33 | $0.17 | -76.7% | 82.4% |
| Free Cash Flow | $12M | $736M | $319M | -98.4% | -96.2% |
| Item | Amount |
|---|---|
| REVENUE | $6.3B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $1.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $959M |
| Other Expenses | $0 |
| Operating Expenses | $959M |
| Cost & Expenses | $5.6B |
| OPERATING INCOME | $734M |
| Interest Income | $17M |
| Interest Expense | $315M |
| Other Income/Expenses | -$331M |
| INCOME BEFORE TAX | $404M |
| Income Tax Expense | -$18M |
| Net Income from Continuing Ops | $422M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $422M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $422M |
| D&A | $727M |
| EBIT | $718M |
| EBITDA | $1.4B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $6.3B |
| Cost of Revenue | $4.6B |
| GROSS PROFIT | $1.7B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $959M |
| Other Expenses | $0 |
| Operating Expenses | $959M |
| Cost & Expenses | $5.6B |
| OPERATING INCOME | $734M |
| Interest Income | $17M |
| Interest Expense | $315M |
| Other Income/Expenses | -$331M |
| INCOME BEFORE TAX | $404M |
| Income Tax Expense | -$18M |
| Net Income from Continuing Ops | $422M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $422M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $422M |
| D&A | $727M |
| EBIT | $718M |
| EBITDA | $1.4B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $422M |
| Depreciation & Amortization | $726M |
| Stock-Based Compensation | $28M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $147M |
| Change in Working Capital | $195M |
| OPERATING CASH FLOW | $1.5B |
| Capital Expenditure | -$1.5B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$1.5B |
| Net Debt Issuance | $198M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | $0 |
| Other Financing Activities | -$32M |
| NET CASH FROM FINANCING | $166M |
| FREE CASH FLOW | $12M |
| Net Change in Cash | $165M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $0 |
| Net Receivables | $678M |
| Inventory | $505M |
| Other Current Assets | $1.1B |
| TOTAL CURRENT ASSETS | $4.2B |
| PP&E (Net) | $44.8B |
| Goodwill | $579M |
| Intangible Assets | $1.2B |
| Long-Term Investments | $221M |
| Tax Assets | $0 |
| Other Non-Current Assets | $669M |
| TOTAL NON-CURRENT ASSETS | $47.5B |
| TOTAL ASSETS | $51.7B |
| Account Payables | $1.2B |
| Short-Term Debt | $2.6B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $9.1B |
| TOTAL CURRENT LIABILITIES | $13.1B |
| Long-Term Debt | $24.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.1B |
| TOTAL NON-CURRENT LIABILITIES | $26.3B |
| TOTAL LIABILITIES | $39.4B |
| Common Stock | $374M |
| Additional Paid-In Capital | $17.3B |
| Retained Earnings | $4.8B |
| Treasury Stock | -$8.4B |
| Accum. Other Comp. Income | -$1.8B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $12.3B |
| Minority Interest | $0 |
| TOTAL EQUITY | $12.3B |
| TOTAL LIABILITIES & EQUITY | $51.7B |
| Total Debt | $28.0B |
| Net Debt | $26.1B |
