| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $9.7B | $9.2B | $8.5B | 5.4% | 14.3% |
| Op. Income | $425M | $494M | $823M | -14.0% | -48.4% |
| Gross Margin | 30.4% | 28.4% | 30.2% | 2.0pp | 0.2pp |
| Net Margin | 1.8% | 3.3% | 16.1% | -1.5pp | -14.3pp |
| EPS (Diluted) | $0.11 | $0.19 | $1.00 | -42.1% | -89.0% |
| Free Cash Flow | $1.8B | $2.4B | $1.4B | -23.4% | 28.3% |
| Item | Amount |
|---|---|
| REVENUE | $9.7B |
| Cost of Revenue | $6.7B |
| GROSS PROFIT | $2.9B |
| R&D Expenses | $881M |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.6B |
| Other Expenses | $0 |
| Operating Expenses | $2.5B |
| Cost & Expenses | $9.3B |
| OPERATING INCOME | $425M |
| Interest Income | -$450M |
| Interest Expense | -$9M |
| Other Income/Expenses | -$686M |
| INCOME BEFORE TAX | -$261M |
| Income Tax Expense | -$436M |
| Net Income from Continuing Ops | $175M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $175M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $146M |
| D&A | $877M |
| EBIT | -$270M |
| EBITDA | $607M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $175M |
| Depreciation & Amortization | $877M |
| Stock-Based Compensation | $196M |
| Deferred Income Tax | -$491M |
| Other Non-Cash Items | $985M |
| Change in Working Capital | $723M |
| OPERATING CASH FLOW | $2.5B |
| Capital Expenditure | -$641M |
| Acquisitions (Net) | $126M |
| Purchases of Investments | -$2M |
| Sales/Maturities of Investments | $887M |
| Other Investing Activities | $54M |
| NET CASH FROM INVESTING | $424M |
| Net Debt Issuance | -$1.3B |
| Common Stock Repurchased | -$100M |
| Common Dividends Paid | -$200M |
| Other Financing Activities | -$62M |
| NET CASH FROM FINANCING | -$1.7B |
| FREE CASH FLOW | $1.8B |
| Net Change in Cash | $2.0B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5.8B |
| Short-Term Investments | $0 |
| Net Receivables | $9.1B |
| Inventory | $6.4B |
| Other Current Assets | $3.8B |
| TOTAL CURRENT ASSETS | $25.0B |
| PP&E (Net) | $6.0B |
| Goodwill | $23.8B |
| Intangible Assets | $6.4B |
| Long-Term Investments | $955M |
| Tax Assets | $0 |
| Other Non-Current Assets | $13.8B |
| TOTAL NON-CURRENT ASSETS | $50.9B |
| TOTAL ASSETS | $75.9B |
| Account Payables | $7.7B |
| Short-Term Debt | $4.6B |
| Deferred Revenue | $5.4B |
| Other Current Liabilities | $6.6B |
| TOTAL CURRENT LIABILITIES | $24.6B |
| Long-Term Debt | $17.8B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $8.8B |
| TOTAL NON-CURRENT LIABILITIES | $26.6B |
| TOTAL LIABILITIES | $51.2B |
| Common Stock | $13M |
| Additional Paid-In Capital | $30.2B |
| Retained Earnings | -$2.8B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$2.7B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $24.7B |
| Minority Interest | $66M |
| TOTAL EQUITY | $24.8B |
| TOTAL LIABILITIES & EQUITY | $75.9B |
| Total Debt | $22.4B |
| Net Debt | $16.6B |
