| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $15.0B | $15.7B | — | -4.4% | — |
| Op. Income | $327M | $544M | — | -39.9% | — |
| Gross Margin | 9.3% | 8.8% | — | 0.5pp | — |
| Net Margin | 1.2% | 2.4% | — | -1.2pp | — |
| EPS (Diluted) | $0.23 | $0.49 | — | -53.1% | — |
| Free Cash Flow | $1.7B | -$486M | — | 459.7% | — |
| Item | Amount |
|---|---|
| REVENUE | $15.0B |
| Cost of Revenue | $13.6B |
| GROSS PROFIT | $1.4B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $1.1B |
| Operating Expenses | $1.1B |
| Cost & Expenses | $14.6B |
| OPERATING INCOME | $327M |
| Interest Income | $0 |
| Interest Expense | $91M |
| Other Income/Expenses | -$335M |
| INCOME BEFORE TAX | -$8M |
| Income Tax Expense | -$201M |
| Net Income from Continuing Ops | $193M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $177M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $177M |
| D&A | $856M |
| EBIT | $1.5B |
| EBITDA | $2.3B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $177M |
| Depreciation & Amortization | $856M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$421M |
| Change in Working Capital | $2.4B |
| OPERATING CASH FLOW | $3.0B |
| Capital Expenditure | -$1.2B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1M |
| NET CASH FROM INVESTING | -$1.2B |
| Net Debt Issuance | -$1.8B |
| Common Stock Repurchased | $3M |
| Common Dividends Paid | -$211M |
| Other Financing Activities | -$26M |
| NET CASH FROM FINANCING | -$2.0B |
| FREE CASH FLOW | $1.7B |
| Net Change in Cash | $33M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $5.5B |
| Short-Term Investments | $0 |
| Net Receivables | $3.5B |
| Inventory | $18.6B |
| Other Current Assets | $37M |
| TOTAL CURRENT ASSETS | $30.6B |
| PP&E (Net) | $41.0B |
| Goodwill | $0 |
| Intangible Assets | $5.3B |
| Long-Term Investments | $10.4B |
| Tax Assets | $0 |
| Other Non-Current Assets | $10.4B |
| TOTAL NON-CURRENT ASSETS | $67.1B |
| TOTAL ASSETS | $97.7B |
| Account Payables | $13.0B |
| Short-Term Debt | $2.7B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $19M |
| TOTAL CURRENT LIABILITIES | $22.5B |
| Long-Term Debt | $10.7B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $2.3B |
| Other Non-Current Liabilities | $5.7B |
| TOTAL NON-CURRENT LIABILITIES | $18.6B |
| TOTAL LIABILITIES | $41.2B |
| Common Stock | $54.5B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $0 |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $0 |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $54.5B |
| Minority Interest | $2.1B |
| TOTAL EQUITY | $56.5B |
| TOTAL LIABILITIES & EQUITY | $97.7B |
| Total Debt | $13.4B |
| Net Debt | $7.9B |
