| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.1B | $3.2B | $2.9B | -2.8% | 7.0% |
| Op. Income | $445M | $410M | $939M | 8.5% | -52.6% |
| Gross Margin | 37.0% | 31.6% | 54.0% | 5.5pp | -16.9pp |
| Net Margin | 10.4% | 8.7% | 27.6% | 1.7pp | -17.2pp |
| EPS (Diluted) | $1.57 | $1.36 | $3.92 | 15.4% | -59.9% |
| Free Cash Flow | $715M | $1.1B | $807M | -37.6% | -11.4% |
| Item | Amount |
|---|---|
| REVENUE | $3.1B |
| Cost of Revenue | $1.9B |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $698M |
| Other Expenses | $2M |
| Operating Expenses | $700M |
| Cost & Expenses | $2.6B |
| OPERATING INCOME | $445M |
| Interest Income | $0 |
| Interest Expense | $48M |
| Other Income/Expenses | -$75M |
| INCOME BEFORE TAX | $370M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $320M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $320M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $320M |
| D&A | $0 |
| EBIT | $381M |
| EBITDA | $381M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $3.1B |
| Cost of Revenue | $1.9B |
| GROSS PROFIT | $1.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $698M |
| Other Expenses | $2M |
| Operating Expenses | $700M |
| Cost & Expenses | $2.6B |
| OPERATING INCOME | $445M |
| Interest Income | $0 |
| Interest Expense | $48M |
| Other Income/Expenses | -$75M |
| INCOME BEFORE TAX | $370M |
| Income Tax Expense | $50M |
| Net Income from Continuing Ops | $320M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $320M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $320M |
| D&A | $0 |
| EBIT | $381M |
| EBITDA | $381M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $320M |
| Depreciation & Amortization | $133M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $85M |
| Other Non-Cash Items | $63M |
| Change in Working Capital | $327M |
| OPERATING CASH FLOW | $927M |
| Capital Expenditure | -$212M |
| Acquisitions (Net) | -$756M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | -$2M |
| Other Investing Activities | $74M |
| NET CASH FROM INVESTING | -$897M |
| Net Debt Issuance | $2M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$271M |
| Other Financing Activities | -$2M |
| NET CASH FROM FINANCING | -$267M |
| FREE CASH FLOW | $715M |
| Net Change in Cash | -$237M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $926M |
| Short-Term Investments | $0 |
| Net Receivables | $730M |
| Inventory | $1.4B |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $3.6B |
| PP&E (Net) | $3.5B |
| Goodwill | $3.0B |
| Intangible Assets | $2.5B |
| Long-Term Investments | $0 |
| Tax Assets | $28M |
| Other Non-Current Assets | $1.1B |
| TOTAL NON-CURRENT ASSETS | $10.2B |
| TOTAL ASSETS | $13.7B |
| Account Payables | $1.3B |
| Short-Term Debt | $722M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $971M |
| TOTAL CURRENT LIABILITIES | $3.0B |
| Long-Term Debt | $4.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $680M |
| Other Non-Current Liabilities | $732M |
| TOTAL NON-CURRENT LIABILITIES | $6.1B |
| TOTAL LIABILITIES | $9.1B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $4.6B |
| TOTAL STOCKHOLDERS' EQUITY | $4.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $4.6B |
| TOTAL LIABILITIES & EQUITY | $13.7B |
| Total Debt | $5.4B |
| Net Debt | $4.5B |
