| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $38.2B | $41.4B | $39.7B | -7.6% | -3.8% |
| Op. Income | $3.8B | $5.4B | $4.5B | -28.1% | -14.4% |
| Gross Margin | 32.6% | 33.4% | 32.8% | -0.8pp | -0.2pp |
| Net Margin | 6.7% | 8.7% | 7.5% | -2.0pp | -0.8pp |
| EPS (Diluted) | $2.58 | $3.62 | $3.02 | -28.7% | -14.6% |
| Free Cash Flow | $2.3B | $3.1B | $3.6B | -26.4% | -35.9% |
| Item | Amount |
|---|---|
| REVENUE | $38.2B |
| Cost of Revenue | $25.7B |
| GROSS PROFIT | $12.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7.8B |
| SG&A Expenses | $7.8B |
| Other Expenses | $845M |
| Operating Expenses | $8.6B |
| Cost & Expenses | $34.3B |
| OPERATING INCOME | $3.8B |
| Interest Income | $43M |
| Interest Expense | $594M |
| Other Income/Expenses | -$551M |
| INCOME BEFORE TAX | $3.3B |
| Income Tax Expense | $727M |
| Net Income from Continuing Ops | $2.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.6B |
| D&A | $845M |
| EBIT | $3.9B |
| EBITDA | $4.7B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $38.2B |
| Cost of Revenue | $25.7B |
| GROSS PROFIT | $12.5B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $7.8B |
| SG&A Expenses | $7.8B |
| Other Expenses | $845M |
| Operating Expenses | $8.6B |
| Cost & Expenses | $34.3B |
| OPERATING INCOME | $3.8B |
| Interest Income | $43M |
| Interest Expense | $594M |
| Other Income/Expenses | -$551M |
| INCOME BEFORE TAX | $3.3B |
| Income Tax Expense | $727M |
| Net Income from Continuing Ops | $2.6B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $2.6B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $2.6B |
| D&A | $845M |
| EBIT | $3.9B |
| EBITDA | $4.7B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $2.6B |
| Depreciation & Amortization | $1.1B |
| Stock-Based Compensation | $114M |
| Deferred Income Tax | -$61M |
| Other Non-Cash Items | $1.8B |
| Change in Working Capital | -$2.2B |
| OPERATING CASH FLOW | $3.3B |
| Capital Expenditure | -$1.1B |
| Acquisitions (Net) | -$162M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | $5M |
| NET CASH FROM INVESTING | -$1.2B |
| Net Debt Issuance | -$322M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$2.3B |
| Other Financing Activities | $2M |
| NET CASH FROM FINANCING | -$2.5B |
| FREE CASH FLOW | $2.3B |
| Net Change in Cash | -$295M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.4B |
| Short-Term Investments | $0 |
| Net Receivables | $5.6B |
| Inventory | $25.8B |
| Other Current Assets | $1.6B |
| TOTAL CURRENT ASSETS | $34.4B |
| PP&E (Net) | $37.2B |
| Goodwill | $22.3B |
| Intangible Assets | $10.3B |
| Long-Term Investments | $0 |
| Tax Assets | $0 |
| Other Non-Current Assets | $806M |
| TOTAL NON-CURRENT ASSETS | $70.7B |
| TOTAL ASSETS | $105.1B |
| Account Payables | $11.5B |
| Short-Term Debt | $9.4B |
| Deferred Revenue | $2.6B |
| Other Current Liabilities | $114M |
| TOTAL CURRENT LIABILITIES | $32.4B |
| Long-Term Debt | $46.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2.8B |
| Other Non-Current Liabilities | $2.5B |
| TOTAL NON-CURRENT LIABILITIES | $59.9B |
| TOTAL LIABILITIES | $92.3B |
| Common Stock | $90M |
| Additional Paid-In Capital | $14.8B |
| Retained Earnings | $94.5B |
| Treasury Stock | -$96.0B |
| Accum. Other Comp. Income | -$652M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $12.8B |
| Minority Interest | $0 |
| TOTAL EQUITY | $12.8B |
| TOTAL LIABILITIES & EQUITY | $105.1B |
| Total Debt | $65.3B |
| Net Debt | $64.0B |
