| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $4.5B | $4.3B | $4.1B | 4.5% | 10.5% |
| Op. Income | $960M | $995M | $63M | -3.5% | 1423.8% |
| Gross Margin | 53.8% | 54.3% | 55.9% | -0.6pp | -2.2pp |
| Net Margin | 7.8% | 15.4% | -3.5% | -7.5pp | 11.4pp |
| EPS (Diluted) | $0.26 | $0.49 | $-0.11 | -46.9% | 336.4% |
| Free Cash Flow | $566M | $527M | $674M | 7.4% | -16.0% |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $2.1B |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.4B |
| Other Expenses | $37M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.5B |
| OPERATING INCOME | $960M |
| Interest Income | $0 |
| Interest Expense | $238M |
| Other Income/Expenses | -$503M |
| INCOME BEFORE TAX | $457M |
| Income Tax Expense | $104M |
| Net Income from Continuing Ops | $353M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $353M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $353M |
| D&A | $39M |
| EBIT | $695M |
| EBITDA | $734M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $4.5B |
| Cost of Revenue | $2.1B |
| GROSS PROFIT | $2.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $1.4B |
| Other Expenses | $37M |
| Operating Expenses | $1.5B |
| Cost & Expenses | $3.5B |
| OPERATING INCOME | $960M |
| Interest Income | $0 |
| Interest Expense | $238M |
| Other Income/Expenses | -$503M |
| INCOME BEFORE TAX | $457M |
| Income Tax Expense | $104M |
| Net Income from Continuing Ops | $353M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $353M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $353M |
| D&A | $39M |
| EBIT | $695M |
| EBITDA | $734M |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $353M |
| Depreciation & Amortization | $39M |
| Stock-Based Compensation | $27M |
| Deferred Income Tax | $84M |
| Other Non-Cash Items | $341M |
| Change in Working Capital | -$132M |
| OPERATING CASH FLOW | $712M |
| Capital Expenditure | -$146M |
| Acquisitions (Net) | -$34M |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$183M |
| Net Debt Issuance | $426M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$313M |
| Other Financing Activities | -$178M |
| NET CASH FROM FINANCING | -$65M |
| FREE CASH FLOW | $566M |
| Net Change in Cash | $475M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $0 |
| Net Receivables | $1.7B |
| Inventory | $1.7B |
| Other Current Assets | $836M |
| TOTAL CURRENT ASSETS | $5.3B |
| PP&E (Net) | $3.2B |
| Goodwill | $20.2B |
| Intangible Assets | $23.7B |
| Long-Term Investments | $1.7B |
| Tax Assets | $36M |
| Other Non-Current Assets | $1.3B |
| TOTAL NON-CURRENT ASSETS | $50.2B |
| TOTAL ASSETS | $55.5B |
| Account Payables | $3.0B |
| Short-Term Debt | $3.1B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $2.2B |
| TOTAL CURRENT LIABILITIES | $8.3B |
| Long-Term Debt | $13.0B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $5.5B |
| Other Non-Current Liabilities | $3.1B |
| TOTAL NON-CURRENT LIABILITIES | $21.7B |
| TOTAL LIABILITIES | $29.9B |
| Common Stock | $14M |
| Additional Paid-In Capital | $19.8B |
| Retained Earnings | $5.6B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $102M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $25.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $25.5B |
| TOTAL LIABILITIES & EQUITY | $55.5B |
| Total Debt | $16.1B |
| Net Debt | $15.1B |
