| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.7B | $3.7B | $3.7B | -1.1% | -0.9% |
| Op. Income | $811M | $751M | $736M | 8.0% | 10.2% |
| Gross Margin | 62.1% | 60.6% | 60.8% | 1.5pp | 1.4pp |
| Net Margin | 15.9% | 15.4% | 19.0% | 0.5pp | -3.1pp |
| EPS (Diluted) | $45.81 | $43.12 | $49.21 | 6.2% | -6.9% |
| Free Cash Flow | $720M | $1.0B | $678M | -28.6% | 6.2% |
| Item | Amount |
|---|---|
| REVENUE | $3.7B |
| Cost of Revenue | $1.4B |
| GROSS PROFIT | $2.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $45M |
| General & Administrative | $1.4B |
| SG&A Expenses | $1.4B |
| Other Expenses | $54M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $2.8B |
| OPERATING INCOME | $811M |
| Interest Income | $2.9B |
| Interest Expense | $1.2B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $811M |
| Income Tax Expense | $231M |
| Net Income from Continuing Ops | $580M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $580M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $566M |
| D&A | $115M |
| EBIT | $811M |
| EBITDA | $926M |
| EPS | $46 |
| EPS Diluted | $46 |
| Item | Amount |
|---|---|
| REVENUE | $3.7B |
| Cost of Revenue | $1.4B |
| GROSS PROFIT | $2.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $45M |
| General & Administrative | $1.4B |
| SG&A Expenses | $1.4B |
| Other Expenses | $54M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $2.8B |
| OPERATING INCOME | $811M |
| Interest Income | $2.9B |
| Interest Expense | $1.2B |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $811M |
| Income Tax Expense | $231M |
| Net Income from Continuing Ops | $580M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $580M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $566M |
| D&A | $115M |
| EBIT | $811M |
| EBITDA | $926M |
| EPS | $46 |
| EPS Diluted | $46 |
| Item | Amount |
|---|---|
| Net Income | $580M |
| Depreciation & Amortization | $121M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$7M |
| Other Non-Cash Items | -$75M |
| Change in Working Capital | $431M |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | -$330M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$6.5B |
| Sales/Maturities of Investments | $9.8B |
| Other Investing Activities | $651M |
| NET CASH FROM INVESTING | $3.6B |
| Net Debt Issuance | -$2.7B |
| Common Stock Repurchased | -$900M |
| Common Dividends Paid | -$40M |
| Other Financing Activities | -$1.6B |
| NET CASH FROM FINANCING | -$4.8B |
| FREE CASH FLOW | $720M |
| Net Change in Cash | -$73M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $20.6B |
| Short-Term Investments | $232M |
| Net Receivables | $146.4B |
| Inventory | $0 |
| Other Current Assets | $804M |
| TOTAL CURRENT ASSETS | $168.0B |
| PP&E (Net) | $12.1B |
| Goodwill | $346M |
| Intangible Assets | $195M |
| Long-Term Investments | $41.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $7.5B |
| TOTAL NON-CURRENT ASSETS | $61.7B |
| TOTAL ASSETS | $229.7B |
| Account Payables | $0 |
| Short-Term Debt | $224M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $162.7B |
| TOTAL CURRENT LIABILITIES | $162.9B |
| Long-Term Debt | $35.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8.7B |
| TOTAL NON-CURRENT LIABILITIES | $44.5B |
| TOTAL LIABILITIES | $207.5B |
| Common Stock | $12M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $20.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $83M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $22.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $22.2B |
| TOTAL LIABILITIES & EQUITY | $229.7B |
| Total Debt | $36.0B |
| Net Debt | $15.4B |
