| Metric | Q1 2026 | Q4 2025 | Q1 2025 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $18.0B | $20.3B | $18.0B | -11.4% | 0.3% |
| Op. Income | $2.1B | $2.3B | $2.4B | -11.5% | -13.0% |
| Gross Margin | 11.5% | 11.4% | 12.9% | 0.1pp | -1.4pp |
| Net Margin | 8.3% | 6.6% | 9.5% | 1.6pp | -1.3pp |
| EPS (Diluted) | $6.44 | $5.80 | $7.28 | 11.0% | -11.5% |
| Free Cash Flow | -$291M | $2.8B | $955M | -110.6% | -130.5% |
| Item | Amount |
|---|---|
| REVENUE | $18.0B |
| Cost of Revenue | $15.9B |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $15M |
| Operating Expenses | $15M |
| Cost & Expenses | $16.0B |
| OPERATING INCOME | $2.1B |
| Interest Income | $0 |
| Interest Expense | $269M |
| Other Income/Expenses | -$289M |
| INCOME BEFORE TAX | $1.8B |
| Income Tax Expense | $286M |
| Net Income from Continuing Ops | $1.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $0 |
| EBIT | $2.1B |
| EBITDA | $2.1B |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| REVENUE | $18.0B |
| Cost of Revenue | $15.9B |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $15M |
| Operating Expenses | $15M |
| Cost & Expenses | $16.0B |
| OPERATING INCOME | $2.1B |
| Interest Income | $0 |
| Interest Expense | $269M |
| Other Income/Expenses | -$289M |
| INCOME BEFORE TAX | $1.8B |
| Income Tax Expense | $286M |
| Net Income from Continuing Ops | $1.5B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $1.5B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $1.5B |
| D&A | $0 |
| EBIT | $2.1B |
| EBITDA | $2.1B |
| EPS | $6 |
| EPS Diluted | $6 |
| Item | Amount |
|---|---|
| Net Income | $1.5B |
| Depreciation & Amortization | $398M |
| Stock-Based Compensation | $83M |
| Deferred Income Tax | $161M |
| Other Non-Cash Items | -$498M |
| Change in Working Capital | -$1.4B |
| OPERATING CASH FLOW | $220M |
| Capital Expenditure | -$511M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$30M |
| NET CASH FROM INVESTING | -$541M |
| Net Debt Issuance | -$1.0B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$816M |
| Other Financing Activities | -$90M |
| NET CASH FROM FINANCING | -$1.9B |
| FREE CASH FLOW | -$291M |
| Net Change in Cash | -$2.2B |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.9B |
| Short-Term Investments | $0 |
| Net Receivables | $2.3B |
| Inventory | $4.3B |
| Other Current Assets | $16.6B |
| TOTAL CURRENT ASSETS | $25.1B |
| PP&E (Net) | $11.3B |
| Goodwill | $11.3B |
| Intangible Assets | $1.8B |
| Long-Term Investments | $0 |
| Tax Assets | $2.8B |
| Other Non-Current Assets | $6.9B |
| TOTAL NON-CURRENT ASSETS | $34.2B |
| TOTAL ASSETS | $59.2B |
| Account Payables | $4.7B |
| Short-Term Debt | $168M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $17.2B |
| TOTAL CURRENT LIABILITIES | $22.1B |
| Long-Term Debt | $0 |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $29.7B |
| TOTAL NON-CURRENT LIABILITIES | $29.7B |
| TOTAL LIABILITIES | $51.7B |
| Common Stock | $230M |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $14.7B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$7.5B |
| Other Equity | $32M |
| TOTAL STOCKHOLDERS' EQUITY | $7.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.5B |
| TOTAL LIABILITIES & EQUITY | $59.2B |
| Total Debt | $168M |
| Net Debt | -$1.7B |
