| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.5B | $1.5B | 0.7% | 3.9% |
| Op. Income | $356M | $477M | $312M | -25.3% | 14.0% |
| Gross Margin | 30.4% | 41.3% | 31.9% | -10.9pp | -1.5pp |
| Net Margin | 17.5% | 25.6% | 17.4% | -8.2pp | 0.1pp |
| EPS (Diluted) | $3.29 | $4.71 | $3.01 | -30.1% | 9.3% |
| Free Cash Flow | $330M | $209M | $322M | 58.2% | 2.5% |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $463M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $92M |
| SG&A Expenses | $92M |
| Other Expenses | $14M |
| Operating Expenses | $106M |
| Cost & Expenses | $1.2B |
| OPERATING INCOME | $356M |
| Interest Income | $0 |
| Interest Expense | $35M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $333M |
| Income Tax Expense | $67M |
| Net Income from Continuing Ops | $266M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $266M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $266M |
| D&A | $0 |
| EBIT | $379M |
| EBITDA | $379M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $1.5B |
| Cost of Revenue | $1.1B |
| GROSS PROFIT | $463M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $92M |
| SG&A Expenses | $92M |
| Other Expenses | $14M |
| Operating Expenses | $106M |
| Cost & Expenses | $1.2B |
| OPERATING INCOME | $356M |
| Interest Income | $0 |
| Interest Expense | $35M |
| Other Income/Expenses | -$23M |
| INCOME BEFORE TAX | $333M |
| Income Tax Expense | $67M |
| Net Income from Continuing Ops | $266M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $266M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $266M |
| D&A | $0 |
| EBIT | $379M |
| EBITDA | $379M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $266M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $85M |
| Change in Working Capital | $0 |
| OPERATING CASH FLOW | $351M |
| Capital Expenditure | -$21M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$366M |
| Sales/Maturities of Investments | $138M |
| Other Investing Activities | -$17M |
| NET CASH FROM INVESTING | -$266M |
| Net Debt Issuance | -$90M |
| Common Stock Repurchased | -$192M |
| Common Dividends Paid | -$22M |
| Other Financing Activities | $44M |
| NET CASH FROM FINANCING | -$241M |
| FREE CASH FLOW | $330M |
| Net Change in Cash | -$158M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $145M |
| Short-Term Investments | $17.9B |
| Net Receivables | $1.0B |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $19.1B |
| PP&E (Net) | $370M |
| Goodwill | $490M |
| Intangible Assets | $7.0B |
| Long-Term Investments | $2.6B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.3B |
| TOTAL NON-CURRENT ASSETS | $11.7B |
| TOTAL ASSETS | $30.8B |
| Account Payables | $541M |
| Short-Term Debt | $305M |
| Deferred Revenue | $271M |
| Other Current Liabilities | $0 |
| TOTAL CURRENT LIABILITIES | $2.0B |
| Long-Term Debt | $2.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $20.5B |
| TOTAL NON-CURRENT LIABILITIES | $22.9B |
| TOTAL LIABILITIES | $24.8B |
| Common Stock | $92M |
| Additional Paid-In Capital | $536M |
| Retained Earnings | $8.5B |
| Treasury Stock | -$1.4B |
| Accum. Other Comp. Income | -$1.8B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $6.0B |
| Minority Interest | $0 |
| TOTAL EQUITY | $6.0B |
| TOTAL LIABILITIES & EQUITY | $30.8B |
| Total Debt | $2.6B |
| Net Debt | $2.5B |
