| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.3B | $3.3B | $3.2B | -0.6% | 1.4% |
| Op. Income | $912M | $837M | $765M | 9.0% | 19.2% |
| Gross Margin | 71.4% | 63.8% | 60.7% | 7.6pp | 10.6pp |
| Net Margin | 22.3% | 19.7% | 19.2% | 2.6pp | 3.1pp |
| EPS (Diluted) | $1.04 | $0.91 | $0.85 | 14.3% | 22.4% |
| Free Cash Flow | $754M | $1.4B | -$228M | -44.8% | 430.7% |
| Item | Amount |
|---|---|
| REVENUE | $3.3B |
| Cost of Revenue | $939M |
| GROSS PROFIT | $2.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $37M |
| General & Administrative | $815M |
| SG&A Expenses | $852M |
| Other Expenses | $576M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $912M |
| Interest Income | $2.5B |
| Interest Expense | $939M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $912M |
| Income Tax Expense | $181M |
| Net Income from Continuing Ops | $731M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $731M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $699M |
| D&A | $0 |
| EBIT | $912M |
| EBITDA | $912M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| REVENUE | $3.3B |
| Cost of Revenue | $939M |
| GROSS PROFIT | $2.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $37M |
| General & Administrative | $815M |
| SG&A Expenses | $852M |
| Other Expenses | $576M |
| Operating Expenses | $1.4B |
| Cost & Expenses | $2.4B |
| OPERATING INCOME | $912M |
| Interest Income | $2.5B |
| Interest Expense | $939M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $912M |
| Income Tax Expense | $181M |
| Net Income from Continuing Ops | $731M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $731M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $699M |
| D&A | $0 |
| EBIT | $912M |
| EBITDA | $912M |
| EPS | $1 |
| EPS Diluted | $1 |
| Item | Amount |
|---|---|
| Net Income | $731M |
| Depreciation & Amortization | $142M |
| Stock-Based Compensation | $28M |
| Deferred Income Tax | $97M |
| Other Non-Cash Items | $62M |
| Change in Working Capital | -$131M |
| OPERATING CASH FLOW | $929M |
| Capital Expenditure | -$175M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$3.6B |
| Sales/Maturities of Investments | $2.7B |
| Other Investing Activities | $259M |
| NET CASH FROM INVESTING | -$857M |
| Net Debt Issuance | -$687M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$297M |
| Other Financing Activities | $1.5B |
| NET CASH FROM FINANCING | $526M |
| FREE CASH FLOW | $754M |
| Net Change in Cash | $598M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $3.5B |
| Short-Term Investments | $18.9B |
| Net Receivables | $120.4B |
| Inventory | $0 |
| Other Current Assets | $733M |
| TOTAL CURRENT ASSETS | $143.5B |
| PP&E (Net) | $3.1B |
| Goodwill | $4.9B |
| Intangible Assets | $69M |
| Long-Term Investments | $49.0B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.6B |
| TOTAL NON-CURRENT ASSETS | $58.8B |
| TOTAL ASSETS | $214.4B |
| Account Payables | $171.8B |
| Short-Term Debt | $926M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $174.8B |
| Long-Term Debt | $13.6B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $0 |
| TOTAL NON-CURRENT LIABILITIES | $13.6B |
| TOTAL LIABILITIES | $192.7B |
| Common Stock | $2.1B |
| Additional Paid-In Capital | $3.8B |
| Retained Earnings | $25.5B |
| Treasury Stock | -$8.3B |
| Accum. Other Comp. Income | -$3.1B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $21.7B |
| Minority Interest | $0 |
| TOTAL EQUITY | $21.7B |
| TOTAL LIABILITIES & EQUITY | $214.4B |
| Total Debt | $14.5B |
| Net Debt | $11.0B |
