| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $16.0B | $16.7B | $15.6B | -4.0% | 2.9% |
| Op. Income | $1.5B | $1.7B | $1.7B | -12.9% | -14.6% |
| Gross Margin | 22.4% | 23.5% | 28.6% | -1.1pp | -6.2pp |
| Net Margin | 7.6% | 8.5% | 5.4% | -0.9pp | 2.2pp |
| EPS (Diluted) | $1.86 | $2.17 | $1.29 | -14.3% | 44.2% |
| Free Cash Flow | $1.4B | $687M | $584M | 96.8% | 131.5% |
| Item | Amount |
|---|---|
| REVENUE | $16.0B |
| Cost of Revenue | $12.4B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $616M |
| General & Administrative | $0 |
| SG&A Expenses | $616M |
| Other Expenses | $1.5B |
| Operating Expenses | $2.1B |
| Cost & Expenses | $14.5B |
| OPERATING INCOME | $1.5B |
| Interest Income | $0 |
| Interest Expense | $157M |
| Other Income/Expenses | $46M |
| INCOME BEFORE TAX | $1.5B |
| Income Tax Expense | $294M |
| Net Income from Continuing Ops | $1.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.2B |
| D&A | $620M |
| EBIT | $1.4B |
| EBITDA | $2.0B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $16.0B |
| Cost of Revenue | $12.4B |
| GROSS PROFIT | $3.6B |
| R&D Expenses | $0 |
| Selling & Marketing | $616M |
| General & Administrative | $0 |
| SG&A Expenses | $616M |
| Other Expenses | $1.5B |
| Operating Expenses | $2.1B |
| Cost & Expenses | $14.5B |
| OPERATING INCOME | $1.5B |
| Interest Income | $0 |
| Interest Expense | $157M |
| Other Income/Expenses | $46M |
| INCOME BEFORE TAX | $1.5B |
| Income Tax Expense | $294M |
| Net Income from Continuing Ops | $1.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.2B |
| D&A | $620M |
| EBIT | $1.4B |
| EBITDA | $2.0B |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $1.2B |
| Depreciation & Amortization | $620M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $421M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $2.3B |
| Capital Expenditure | -$908M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $180M |
| NET CASH FROM INVESTING | -$728M |
| Net Debt Issuance | -$895M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$122M |
| Other Financing Activities | $16M |
| NET CASH FROM FINANCING | -$1.0B |
| FREE CASH FLOW | $1.4B |
| Net Change in Cash | $531M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $4.3B |
| Short-Term Investments | $0 |
| Net Receivables | $2.9B |
| Inventory | $1.6B |
| Other Current Assets | $2.2B |
| TOTAL CURRENT ASSETS | $11.0B |
| PP&E (Net) | $46.0B |
| Goodwill | $9.8B |
| Intangible Assets | $6.0B |
| Long-Term Investments | $4.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $4.3B |
| TOTAL NON-CURRENT ASSETS | $70.2B |
| TOTAL ASSETS | $81.2B |
| Account Payables | $5.2B |
| Short-Term Debt | $2.4B |
| Deferred Revenue | $4.9B |
| Other Current Liabilities | $9.4B |
| TOTAL CURRENT LIABILITIES | $27.7B |
| Long-Term Debt | $12.5B |
| Deferred Revenue NC | $4.4B |
| Deferred Tax Liabilities | $3.4B |
| Other Non-Current Liabilities | $7.2B |
| TOTAL NON-CURRENT LIABILITIES | $32.8B |
| TOTAL LIABILITIES | $60.4B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $13.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$4.1B |
| Other Equity | $11.6B |
| TOTAL STOCKHOLDERS' EQUITY | $20.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $20.8B |
| TOTAL LIABILITIES & EQUITY | $81.2B |
| Total Debt | $21.1B |
| Net Debt | $16.8B |
