| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.5B | $3.6B | $3.5B | -2.2% | -0.9% |
| Op. Income | $1.1B | $1.1B | $1.2B | 2.1% | -8.3% |
| Gross Margin | 31.6% | 34.9% | 34.2% | -3.2pp | -2.6pp |
| Net Margin | 20.5% | 19.3% | 20.7% | 1.2pp | -0.2pp |
| EPS (Diluted) | $0.39 | $0.37 | $0.38 | 5.4% | 2.6% |
| Free Cash Flow | $709M | $2.8B | $550M | -75.0% | 28.9% |
| Item | Amount |
|---|---|
| REVENUE | $3.5B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $1.1B |
| Interest Income | $0 |
| Interest Expense | $213M |
| Other Income/Expenses | -$190M |
| INCOME BEFORE TAX | $920M |
| Income Tax Expense | $200M |
| Net Income from Continuing Ops | $720M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $720M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $720M |
| D&A | $404M |
| EBIT | $1.1B |
| EBITDA | $1.5B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $3.5B |
| Cost of Revenue | $2.4B |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $1.1B |
| Interest Income | $0 |
| Interest Expense | $213M |
| Other Income/Expenses | -$190M |
| INCOME BEFORE TAX | $920M |
| Income Tax Expense | $200M |
| Net Income from Continuing Ops | $720M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $720M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $720M |
| D&A | $404M |
| EBIT | $1.1B |
| EBITDA | $1.5B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $720M |
| Depreciation & Amortization | $404M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $51M |
| Other Non-Cash Items | -$12M |
| Change in Working Capital | $223M |
| OPERATING CASH FLOW | $1.4B |
| Capital Expenditure | -$677M |
| Acquisitions (Net) | $13M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $8M |
| Other Investing Activities | -$50M |
| NET CASH FROM INVESTING | -$706M |
| Net Debt Issuance | -$301M |
| Common Stock Repurchased | -$112M |
| Common Dividends Paid | -$242M |
| Other Financing Activities | $33M |
| NET CASH FROM FINANCING | -$622M |
| FREE CASH FLOW | $709M |
| Net Change in Cash | $58M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $670M |
| Short-Term Investments | $5M |
| Net Receivables | $1.3B |
| Inventory | $390M |
| Other Current Assets | $187M |
| TOTAL CURRENT ASSETS | $2.5B |
| PP&E (Net) | $37.3B |
| Goodwill | $80M |
| Intangible Assets | $187M |
| Long-Term Investments | $2.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $956M |
| TOTAL NON-CURRENT ASSETS | $41.1B |
| TOTAL ASSETS | $43.7B |
| Account Payables | $1.1B |
| Short-Term Debt | $708M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $1.2B |
| TOTAL CURRENT LIABILITIES | $3.1B |
| Long-Term Debt | $18.2B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7.9B |
| Other Non-Current Liabilities | $831M |
| TOTAL NON-CURRENT LIABILITIES | $27.4B |
| TOTAL LIABILITIES | $30.5B |
| Common Stock | $1.9B |
| Additional Paid-In Capital | $948M |
| Retained Earnings | $10.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$213M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $13.2B |
| Minority Interest | $5M |
| TOTAL EQUITY | $13.2B |
| TOTAL LIABILITIES & EQUITY | $43.7B |
| Total Debt | $19.4B |
| Net Debt | $18.7B |
