| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $3.0B | $3.1B | $3.0B | -4.2% | -1.7% |
| Op. Income | $937M | $1.0B | $1.1B | -8.9% | -14.3% |
| Gross Margin | 70.5% | 33.2% | 36.1% | 37.3pp | 34.4pp |
| Net Margin | 21.7% | 22.9% | 24.2% | -1.3pp | -2.6pp |
| EPS (Diluted) | $2.87 | $3.16 | $3.23 | -9.2% | -11.1% |
| Free Cash Flow | $2.5B | $720M | $276M | 252.5% | 819.6% |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $877M |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $753M |
| SG&A Expenses | $753M |
| Other Expenses | $407M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.0B |
| OPERATING INCOME | $937M |
| Interest Income | $0 |
| Interest Expense | $195M |
| Other Income/Expenses | -$172M |
| INCOME BEFORE TAX | $765M |
| Income Tax Expense | $121M |
| Net Income from Continuing Ops | $644M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $644M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $644M |
| D&A | $353M |
| EBIT | $960M |
| EBITDA | $1.3B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| REVENUE | $3.0B |
| Cost of Revenue | $877M |
| GROSS PROFIT | $2.1B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $753M |
| SG&A Expenses | $753M |
| Other Expenses | $407M |
| Operating Expenses | $1.2B |
| Cost & Expenses | $2.0B |
| OPERATING INCOME | $937M |
| Interest Income | $0 |
| Interest Expense | $195M |
| Other Income/Expenses | -$172M |
| INCOME BEFORE TAX | $765M |
| Income Tax Expense | $121M |
| Net Income from Continuing Ops | $644M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $644M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $644M |
| D&A | $353M |
| EBIT | $960M |
| EBITDA | $1.3B |
| EPS | $3 |
| EPS Diluted | $3 |
| Item | Amount |
|---|---|
| Net Income | $644M |
| Depreciation & Amortization | $353M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | -$38M |
| Other Non-Cash Items | $65M |
| Change in Working Capital | $39M |
| OPERATING CASH FLOW | $1.1B |
| Capital Expenditure | $1.5B |
| Acquisitions (Net) | -$102M |
| Purchases of Investments | $615M |
| Sales/Maturities of Investments | $47M |
| Other Investing Activities | -$2.7B |
| NET CASH FROM INVESTING | -$644M |
| Net Debt Issuance | $158M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$303M |
| Other Financing Activities | -$161M |
| NET CASH FROM FINANCING | -$307M |
| FREE CASH FLOW | $2.5B |
| Net Change in Cash | $112M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.5B |
| Short-Term Investments | $0 |
| Net Receivables | $988M |
| Inventory | $0 |
| Other Current Assets | $680M |
| TOTAL CURRENT ASSETS | $3.2B |
| PP&E (Net) | $0 |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4.1B |
| Tax Assets | $0 |
| Other Non-Current Assets | $37.9B |
| TOTAL NON-CURRENT ASSETS | $42.0B |
| TOTAL ASSETS | $45.2B |
| Account Payables | $1.9B |
| Short-Term Debt | $607M |
| Deferred Revenue | $0 |
| Other Current Liabilities | $965M |
| TOTAL CURRENT LIABILITIES | $3.8B |
| Long-Term Debt | $16.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $7.7B |
| Other Non-Current Liabilities | $1.7B |
| TOTAL NON-CURRENT LIABILITIES | $25.9B |
| TOTAL LIABILITIES | $29.7B |
| Common Stock | $226M |
| Additional Paid-In Capital | $2.3B |
| Retained Earnings | $13.2B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$210M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $15.5B |
| Minority Interest | $0 |
| TOTAL EQUITY | $15.5B |
| TOTAL LIABILITIES & EQUITY | $45.2B |
| Total Debt | $17.1B |
| Net Debt | $15.6B |
