| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $7.9B | $9.6B | $11.1B | -17.6% | -28.4% |
| Op. Income | $786M | $2.1B | $615M | -62.1% | 27.8% |
| Gross Margin | 12.1% | 23.2% | 18.0% | -11.0pp | -5.9pp |
| Net Margin | 8.6% | 9.7% | 1.0% | -1.2pp | 7.6pp |
| EPS (Diluted) | $0.36 | $0.53 | $0.05 | -31.9% | 597.0% |
| Free Cash Flow | $829M | $714M | $403M | 16.1% | 105.8% |
| Item | Amount |
|---|---|
| REVENUE | $7.9B |
| Cost of Revenue | $7.0B |
| GROSS PROFIT | $962M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $177M |
| Other Expenses | $0 |
| Operating Expenses | $177M |
| Cost & Expenses | $7.2B |
| OPERATING INCOME | $786M |
| Interest Income | $22M |
| Interest Expense | $96M |
| Other Income/Expenses | -$31M |
| INCOME BEFORE TAX | $755M |
| Income Tax Expense | $73M |
| Net Income from Continuing Ops | $682M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $682M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $681M |
| D&A | $1.0B |
| EBIT | $851M |
| EBITDA | $1.9B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $7.9B |
| Cost of Revenue | $7.0B |
| GROSS PROFIT | $962M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $177M |
| Other Expenses | $0 |
| Operating Expenses | $177M |
| Cost & Expenses | $7.2B |
| OPERATING INCOME | $786M |
| Interest Income | $22M |
| Interest Expense | $96M |
| Other Income/Expenses | -$31M |
| INCOME BEFORE TAX | $755M |
| Income Tax Expense | $73M |
| Net Income from Continuing Ops | $682M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $682M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $681M |
| D&A | $1.0B |
| EBIT | $851M |
| EBITDA | $1.9B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $682M |
| Depreciation & Amortization | $1.0B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $211M |
| Other Non-Cash Items | -$49M |
| Change in Working Capital | -$134M |
| OPERATING CASH FLOW | $1.8B |
| Capital Expenditure | -$930M |
| Acquisitions (Net) | -$1.7B |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $19M |
| NET CASH FROM INVESTING | -$2.7B |
| Net Debt Issuance | $2.3B |
| Common Stock Repurchased | -$566M |
| Common Dividends Paid | -$275M |
| Other Financing Activities | $107M |
| NET CASH FROM FINANCING | $1.6B |
| FREE CASH FLOW | $829M |
| Net Change in Cash | $632M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.0B |
| Short-Term Investments | $0 |
| Net Receivables | $2.5B |
| Inventory | $2.4B |
| Other Current Assets | $258M |
| TOTAL CURRENT ASSETS | $7.2B |
| PP&E (Net) | $34.6B |
| Goodwill | $2.1B |
| Intangible Assets | $17M |
| Long-Term Investments | $638M |
| Tax Assets | $1.2B |
| Other Non-Current Assets | $524M |
| TOTAL NON-CURRENT ASSETS | $39.1B |
| TOTAL ASSETS | $46.3B |
| Account Payables | $4.3B |
| Short-Term Debt | $269M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $4.6B |
| Long-Term Debt | $10.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4.3B |
| Other Non-Current Liabilities | $2.2B |
| TOTAL NON-CURRENT LIABILITIES | $18.6B |
| TOTAL LIABILITIES | $23.2B |
| Common Stock | $13.6B |
| Additional Paid-In Capital | $218M |
| Retained Earnings | $9.0B |
| Treasury Stock | -$85M |
| Accum. Other Comp. Income | $296M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $23.1B |
| Minority Interest | $12M |
| TOTAL EQUITY | $23.1B |
| TOTAL LIABILITIES & EQUITY | $46.3B |
| Total Debt | $12.4B |
| Net Debt | $10.4B |
