| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.8B | $1.4B | -1.5% | 23.8% |
| Op. Income | $402M | $471M | $377M | -14.6% | 6.6% |
| Gross Margin | 31.1% | 35.6% | 31.9% | -4.5pp | -0.8pp |
| Net Margin | 20.6% | 17.7% | 20.5% | 2.8pp | 0.0pp |
| EPS (Diluted) | $0.48 | $0.42 | $0.40 | 14.3% | 20.0% |
| Free Cash Flow | $376M | $327M | $190M | 15.0% | 97.9% |
| Item | Amount |
|---|---|
| REVENUE | $1.8B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $556M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $64M |
| Other Expenses | $90M |
| Operating Expenses | $154M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $402M |
| Interest Income | $2M |
| Interest Expense | $49M |
| Other Income/Expenses | $123M |
| INCOME BEFORE TAX | $525M |
| Income Tax Expense | $157M |
| Net Income from Continuing Ops | $368M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $368M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $368M |
| D&A | $666M |
| EBIT | $574M |
| EBITDA | $1.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.8B |
| Cost of Revenue | $1.2B |
| GROSS PROFIT | $556M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $64M |
| Other Expenses | $90M |
| Operating Expenses | $154M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $402M |
| Interest Income | $2M |
| Interest Expense | $49M |
| Other Income/Expenses | $123M |
| INCOME BEFORE TAX | $525M |
| Income Tax Expense | $157M |
| Net Income from Continuing Ops | $368M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $368M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $368M |
| D&A | $666M |
| EBIT | $574M |
| EBITDA | $1.2B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $368M |
| Depreciation & Amortization | $666M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $150M |
| Other Non-Cash Items | -$96M |
| Change in Working Capital | -$118M |
| OPERATING CASH FLOW | $970M |
| Capital Expenditure | -$594M |
| Acquisitions (Net) | -$3.2B |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $3.2B |
| NET CASH FROM INVESTING | -$595M |
| Net Debt Issuance | -$100M |
| Common Stock Repurchased | -$90M |
| Common Dividends Paid | -$168M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$359M |
| FREE CASH FLOW | $376M |
| Net Change in Cash | $16M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $119M |
| Short-Term Investments | $0 |
| Net Receivables | $1.4B |
| Inventory | $48M |
| Other Current Assets | $263M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $22.2B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $3M |
| Tax Assets | $219M |
| Other Non-Current Assets | $149M |
| TOTAL NON-CURRENT ASSETS | $22.6B |
| TOTAL ASSETS | $24.5B |
| Account Payables | $1.0B |
| Short-Term Debt | $318M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $124M |
| TOTAL CURRENT LIABILITIES | $1.6B |
| Long-Term Debt | $3.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.9B |
| Other Non-Current Liabilities | $447M |
| TOTAL NON-CURRENT LIABILITIES | $8.1B |
| TOTAL LIABILITIES | $9.6B |
| Common Stock | $76M |
| Additional Paid-In Capital | $7.9B |
| Retained Earnings | $6.9B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $14M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $14.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $14.8B |
| TOTAL LIABILITIES & EQUITY | $24.5B |
| Total Debt | $4.0B |
| Net Debt | $3.9B |
