| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $6.8B | $6.3B | $6.6B | 8.9% | 2.6% |
| Op. Income | $1.2B | $1.2B | $1.0B | 1.2% | 17.2% |
| Gross Margin | 18.0% | 39.4% | 15.7% | -21.4pp | 2.2pp |
| Net Margin | 9.8% | 13.6% | 10.2% | -3.8pp | -0.3pp |
| EPS (Diluted) | $0.29 | $0.36 | $0.30 | -19.4% | -3.3% |
| Free Cash Flow | -$1.2B | -$80M | -$896M | -1395.0% | -33.5% |
| Item | Amount |
|---|---|
| REVENUE | $6.8B |
| Cost of Revenue | $5.6B |
| GROSS PROFIT | $1.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $5.6B |
| OPERATING INCOME | $1.2B |
| Interest Income | $128M |
| Interest Expense | $732M |
| Other Income/Expenses | -$673M |
| INCOME BEFORE TAX | $551M |
| Income Tax Expense | -$119M |
| Net Income from Continuing Ops | $670M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $670M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $642M |
| D&A | $1.3B |
| EBIT | $1.4B |
| EBITDA | $2.8B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| REVENUE | $6.8B |
| Cost of Revenue | $5.6B |
| GROSS PROFIT | $1.2B |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $0 |
| Operating Expenses | $0 |
| Cost & Expenses | $5.6B |
| OPERATING INCOME | $1.2B |
| Interest Income | $128M |
| Interest Expense | $732M |
| Other Income/Expenses | -$673M |
| INCOME BEFORE TAX | $551M |
| Income Tax Expense | -$119M |
| Net Income from Continuing Ops | $670M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $670M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $642M |
| D&A | $1.3B |
| EBIT | $1.4B |
| EBITDA | $2.8B |
| EPS | $0 |
| EPS Diluted | $0 |
| Item | Amount |
|---|---|
| Net Income | $670M |
| Depreciation & Amortization | $1.4B |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $358M |
| Other Non-Cash Items | $25M |
| Change in Working Capital | -$506M |
| OPERATING CASH FLOW | $2.0B |
| Capital Expenditure | -$3.2B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$1.1B |
| Sales/Maturities of Investments | $1.2B |
| Other Investing Activities | $7M |
| NET CASH FROM INVESTING | -$3.1B |
| Net Debt Issuance | $1.6B |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$54M |
| Other Financing Activities | -$219M |
| NET CASH FROM FINANCING | $1.3B |
| FREE CASH FLOW | -$1.2B |
| Net Change in Cash | $200M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $713M |
| Short-Term Investments | $0 |
| Net Receivables | $11.7B |
| Inventory | $820M |
| Other Current Assets | $2.5B |
| TOTAL CURRENT ASSETS | $15.8B |
| PP&E (Net) | $96.8B |
| Goodwill | $0 |
| Intangible Assets | $0 |
| Long-Term Investments | $4.2B |
| Tax Assets | $0 |
| Other Non-Current Assets | $24.8B |
| TOTAL NON-CURRENT ASSETS | $125.8B |
| TOTAL ASSETS | $141.6B |
| Account Payables | $3.4B |
| Short-Term Debt | $3.5B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $4.5B |
| TOTAL CURRENT LIABILITIES | $16.3B |
| Long-Term Debt | $57.4B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $4.1B |
| Other Non-Current Liabilities | $30.6B |
| TOTAL NON-CURRENT LIABILITIES | $92.5B |
| TOTAL LIABILITIES | $108.8B |
| Common Stock | $31.6B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | -$650M |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$25M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $32.5B |
| Minority Interest | $252M |
| TOTAL EQUITY | $32.8B |
| TOTAL LIABILITIES & EQUITY | $141.6B |
| Total Debt | $61.3B |
| Net Debt | $60.6B |
