| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | — | $1.2B | — | 9.5% |
| Op. Income | $227M | — | $178M | — | 27.6% |
| Gross Margin | 24.6% | — | 23.7% | — | 1.0pp |
| Net Margin | 6.3% | — | 6.4% | — | -0.1pp |
| EPS (Diluted) | $0.37 | — | $0.34 | — | 8.8% |
| Free Cash Flow | -$531M | — | -$119M | — | -347.3% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $327M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $100M |
| Operating Expenses | $100M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $227M |
| Interest Income | $2M |
| Interest Expense | $158M |
| Other Income/Expenses | -$155M |
| INCOME BEFORE TAX | $72M |
| Income Tax Expense | -$16M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $84M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $84M |
| D&A | $305M |
| EBIT | $230M |
| EBITDA | $534M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $1.0B |
| GROSS PROFIT | $327M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $100M |
| Operating Expenses | $100M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $227M |
| Interest Income | $2M |
| Interest Expense | $158M |
| Other Income/Expenses | -$155M |
| INCOME BEFORE TAX | $72M |
| Income Tax Expense | -$16M |
| Net Income from Continuing Ops | $87M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $84M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $84M |
| D&A | $305M |
| EBIT | $230M |
| EBITDA | $534M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $84M |
| Depreciation & Amortization | $305M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$32M |
| Other Non-Cash Items | $15M |
| Change in Working Capital | -$38M |
| OPERATING CASH FLOW | $334M |
| Capital Expenditure | -$865M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$252M |
| Sales/Maturities of Investments | $214M |
| Other Investing Activities | $235M |
| NET CASH FROM INVESTING | -$668M |
| Net Debt Issuance | $483M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$157M |
| Other Financing Activities | -$8M |
| NET CASH FROM FINANCING | $318M |
| FREE CASH FLOW | -$531M |
| Net Change in Cash | -$17M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $25M |
| Short-Term Investments | $0 |
| Net Receivables | $624M |
| Inventory | $829M |
| Other Current Assets | $259M |
| TOTAL CURRENT ASSETS | $1.8B |
| PP&E (Net) | $26.4B |
| Goodwill | $2.3B |
| Intangible Assets | $0 |
| Long-Term Investments | $1.1B |
| Tax Assets | $1.5B |
| Other Non-Current Assets | $2.4B |
| TOTAL NON-CURRENT ASSETS | $33.6B |
| TOTAL ASSETS | $35.4B |
| Account Payables | $654M |
| Short-Term Debt | $2.2B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $675M |
| TOTAL CURRENT LIABILITIES | $3.7B |
| Long-Term Debt | $13.1B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $3.7B |
| Other Non-Current Liabilities | $4.6B |
| TOTAL NON-CURRENT LIABILITIES | $21.5B |
| TOTAL LIABILITIES | $25.2B |
| Common Stock | $7.3B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $3.0B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$18M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $10.2B |
| Minority Interest | $47M |
| TOTAL EQUITY | $10.3B |
| TOTAL LIABILITIES & EQUITY | $35.4B |
| Total Debt | $15.4B |
| Net Debt | $15.4B |
