| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $12.6B | $10.7B | — | 17.3% | — |
| Op. Income | $2.0B | $1.7B | — | 20.0% | — |
| Gross Margin | 33.0% | 32.5% | — | 0.5pp | — |
| Net Margin | 12.0% | 5.4% | — | 6.6pp | — |
| EPS (Diluted) | $0.65 | $0.22 | — | 196.7% | — |
| Free Cash Flow | $105M | $456M | — | -77.0% | — |
| Item | Amount |
|---|---|
| REVENUE | $12.6B |
| Cost of Revenue | $8.4B |
| GROSS PROFIT | $4.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.2B |
| Operating Expenses | $2.2B |
| Cost & Expenses | $10.6B |
| OPERATING INCOME | $2.0B |
| Interest Income | $0 |
| Interest Expense | $888M |
| Other Income/Expenses | -$197M |
| INCOME BEFORE TAX | $1.8B |
| Income Tax Expense | $238M |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.4B |
| D&A | $1.1B |
| EBIT | $2.7B |
| EBITDA | $3.8B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $12.6B |
| Cost of Revenue | $8.4B |
| GROSS PROFIT | $4.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $2.2B |
| Operating Expenses | $2.2B |
| Cost & Expenses | $10.6B |
| OPERATING INCOME | $2.0B |
| Interest Income | $0 |
| Interest Expense | $888M |
| Other Income/Expenses | -$197M |
| INCOME BEFORE TAX | $1.8B |
| Income Tax Expense | $238M |
| Net Income from Continuing Ops | $1.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.4B |
| D&A | $1.1B |
| EBIT | $2.7B |
| EBITDA | $3.8B |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | -$6.7B |
| Depreciation & Amortization | $1.9B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $124M |
| Other Non-Cash Items | $7.1B |
| Change in Working Capital | $768M |
| OPERATING CASH FLOW | $3.1B |
| Capital Expenditure | -$3.0B |
| Acquisitions (Net) | -$642M |
| Purchases of Investments | $350M |
| Sales/Maturities of Investments | $192M |
| Other Investing Activities | $279M |
| NET CASH FROM INVESTING | -$3.3B |
| Net Debt Issuance | -$3.4B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$2.1B |
| Other Financing Activities | $5.4B |
| NET CASH FROM FINANCING | -$108M |
| FREE CASH FLOW | $105M |
| Net Change in Cash | -$332M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $0 |
| Net Receivables | $7.2B |
| Inventory | $1.6B |
| Other Current Assets | -$7.1B |
| TOTAL CURRENT ASSETS | $2.8B |
| PP&E (Net) | $131.6B |
| Goodwill | $35.3B |
| Intangible Assets | $4.0B |
| Long-Term Investments | $22.8B |
| Tax Assets | $0 |
| Other Non-Current Assets | -$22.8B |
| TOTAL NON-CURRENT ASSETS | $170.9B |
| TOTAL ASSETS | $218.5B |
| Account Payables | $7.6B |
| Short-Term Debt | $6.3B |
| Deferred Revenue | $1.2B |
| Other Current Liabilities | $1.7B |
| TOTAL CURRENT LIABILITIES | $21.0B |
| Long-Term Debt | $99.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $20.3B |
| Other Non-Current Liabilities | $13.0B |
| TOTAL NON-CURRENT LIABILITIES | $132.3B |
| TOTAL LIABILITIES | $152.6B |
| Common Stock | $71.9B |
| Additional Paid-In Capital | $242M |
| Retained Earnings | -$21.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $4.7B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $62.3B |
| Minority Interest | $3.6B |
| TOTAL EQUITY | $65.9B |
| TOTAL LIABILITIES & EQUITY | $218.5B |
| Total Debt | $105.3B |
| Net Debt | $104.2B |
