| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11.3B | $9.3B | $7.8B | 21.7% | 46.0% |
| Op. Income | $3.8B | $2.2B | $1.5B | 73.1% | 146.6% |
| Gross Margin | 44.7% | 37.7% | 35.3% | 6.9pp | 9.4pp |
| Net Margin | 28.3% | 20.3% | 11.4% | 8.0pp | 16.8pp |
| EPS (Diluted) | $2.83 | $1.68 | $0.79 | 68.5% | 258.2% |
| Free Cash Flow | $72M | $1.7B | $285M | -95.7% | -74.7% |
| Item | Amount |
|---|---|
| REVENUE | $11.3B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $5.1B |
| R&D Expenses | $1.0B |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $314M |
| Other Expenses | -$43M |
| Operating Expenses | $1.3B |
| Cost & Expenses | $7.6B |
| OPERATING INCOME | $3.8B |
| Interest Income | $146M |
| Interest Expense | $124M |
| Other Income/Expenses | -$117M |
| INCOME BEFORE TAX | $3.6B |
| Income Tax Expense | $429M |
| Net Income from Continuing Ops | $3.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$7M |
| NET INCOME | $3.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3.2B |
| D&A | $2.2B |
| EBIT | $3.8B |
| EBITDA | $5.9B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $11.3B |
| Cost of Revenue | $6.3B |
| GROSS PROFIT | $5.1B |
| R&D Expenses | $1.0B |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $314M |
| Other Expenses | -$43M |
| Operating Expenses | $1.3B |
| Cost & Expenses | $7.6B |
| OPERATING INCOME | $3.8B |
| Interest Income | $146M |
| Interest Expense | $124M |
| Other Income/Expenses | -$117M |
| INCOME BEFORE TAX | $3.6B |
| Income Tax Expense | $429M |
| Net Income from Continuing Ops | $3.2B |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | -$7M |
| NET INCOME | $3.2B |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $3.2B |
| D&A | $2.2B |
| EBIT | $3.8B |
| EBITDA | $5.9B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $3.2B |
| Depreciation & Amortization | $2.1B |
| Stock-Based Compensation | $262M |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | -$12M |
| Change in Working Capital | $130M |
| OPERATING CASH FLOW | $5.7B |
| Capital Expenditure | -$5.7B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$687M |
| Sales/Maturities of Investments | $449M |
| Other Investing Activities | $698M |
| NET CASH FROM INVESTING | -$5.2B |
| Net Debt Issuance | -$1.0B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$130M |
| Other Financing Activities | $81M |
| NET CASH FROM FINANCING | -$1.1B |
| FREE CASH FLOW | $72M |
| Net Change in Cash | -$523M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $9.6B |
| Short-Term Investments | $665M |
| Net Receivables | $9.3B |
| Inventory | $8.4B |
| Other Current Assets | $914M |
| TOTAL CURRENT ASSETS | $28.8B |
| PP&E (Net) | $47.3B |
| Goodwill | $1.1B |
| Intangible Assets | $453M |
| Long-Term Investments | $1.6B |
| Tax Assets | $616M |
| Other Non-Current Assets | $2.8B |
| TOTAL NON-CURRENT ASSETS | $54.0B |
| TOTAL ASSETS | $82.8B |
| Account Payables | $3.1B |
| Short-Term Debt | $634M |
| Deferred Revenue | $26M |
| Other Current Liabilities | $5.9B |
| TOTAL CURRENT LIABILITIES | $11.5B |
| Long-Term Debt | $14.0B |
| Deferred Revenue NC | $1.0B |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.4B |
| TOTAL NON-CURRENT LIABILITIES | $17.2B |
| TOTAL LIABILITIES | $28.6B |
| Common Stock | $127M |
| Additional Paid-In Capital | $13.3B |
| Retained Earnings | $48.6B |
| Treasury Stock | -$7.9B |
| Accum. Other Comp. Income | -$32M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $54.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $54.2B |
| TOTAL LIABILITIES & EQUITY | $82.8B |
| Total Debt | $15.3B |
| Net Debt | $5.6B |
