| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.9B | $2.0B | $1.7B | -5.9% | 13.0% |
| Op. Income | $795M | $917M | $621M | -13.3% | 28.0% |
| Gross Margin | 66.9% | 69.4% | 63.5% | -2.5pp | 3.3pp |
| Net Margin | 32.3% | 32.2% | 23.6% | 0.1pp | 8.7pp |
| EPS (Diluted) | $3.41 | $3.60 | $2.17 | -5.3% | 57.1% |
| Free Cash Flow | $777M | $903M | $600M | -14.0% | 29.5% |
| Item | Amount |
|---|---|
| REVENUE | $1.9B |
| Cost of Revenue | $626M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $468M |
| Other Expenses | $0 |
| Operating Expenses | $468M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $795M |
| Interest Income | $14M |
| Interest Expense | $16M |
| Other Income/Expenses | -$108M |
| INCOME BEFORE TAX | $687M |
| Income Tax Expense | $76M |
| Net Income from Continuing Ops | $611M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $610M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $610M |
| D&A | $124M |
| EBIT | $795M |
| EBITDA | $919M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $1.9B |
| Cost of Revenue | $626M |
| GROSS PROFIT | $1.3B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $468M |
| Other Expenses | $0 |
| Operating Expenses | $468M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $795M |
| Interest Income | $14M |
| Interest Expense | $16M |
| Other Income/Expenses | -$108M |
| INCOME BEFORE TAX | $687M |
| Income Tax Expense | $76M |
| Net Income from Continuing Ops | $611M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $610M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $610M |
| D&A | $124M |
| EBIT | $795M |
| EBITDA | $919M |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $610M |
| Depreciation & Amortization | $124M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$57M |
| Other Non-Cash Items | $38M |
| Change in Working Capital | $143M |
| OPERATING CASH FLOW | $858M |
| Capital Expenditure | -$81M |
| Acquisitions (Net) | $40M |
| Purchases of Investments | -$35M |
| Sales/Maturities of Investments | $34M |
| Other Investing Activities | $0 |
| NET CASH FROM INVESTING | -$42M |
| Net Debt Issuance | $0 |
| Common Stock Repurchased | -$444M |
| Common Dividends Paid | -$167M |
| Other Financing Activities | -$3M |
| NET CASH FROM FINANCING | -$609M |
| FREE CASH FLOW | $777M |
| Net Change in Cash | $203M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.4B |
| Short-Term Investments | $64M |
| Net Receivables | $2.0B |
| Inventory | $0 |
| Other Current Assets | $714M |
| TOTAL CURRENT ASSETS | $5.2B |
| PP&E (Net) | $1.0B |
| Goodwill | $6.4B |
| Intangible Assets | $1.9B |
| Long-Term Investments | $0 |
| Tax Assets | $305M |
| Other Non-Current Assets | $1.1B |
| TOTAL NON-CURRENT ASSETS | $10.6B |
| TOTAL ASSETS | $15.8B |
| Account Payables | $0 |
| Short-Term Debt | $95M |
| Deferred Revenue | $1.6B |
| Other Current Liabilities | $1.3B |
| TOTAL CURRENT LIABILITIES | $3.0B |
| Long-Term Debt | $7.3B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $315M |
| Other Non-Current Liabilities | $1.1B |
| TOTAL NON-CURRENT LIABILITIES | $8.6B |
| TOTAL LIABILITIES | $11.6B |
| Common Stock | $0 |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $4.1B |
| TOTAL STOCKHOLDERS' EQUITY | $4.1B |
| Minority Interest | $151M |
| TOTAL EQUITY | $4.2B |
| TOTAL LIABILITIES & EQUITY | $15.8B |
| Total Debt | $7.4B |
| Net Debt | $5.0B |
