| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $11.4B | $11.7B | $12.0B | -2.4% | -5.4% |
| Op. Income | $9M | $431M | $111M | -98.0% | -92.0% |
| Gross Margin | 6.1% | 8.2% | 6.0% | -2.1pp | 0.1pp |
| Net Margin | -1.3% | 2.4% | -2.4% | -3.8pp | 1.1pp |
| EPS (Diluted) | $-0.44 | $0.88 | $-0.96 | -150.3% | 53.8% |
| Free Cash Flow | $223M | -$714M | $23M | 131.3% | 871.5% |
| Item | Amount |
|---|---|
| REVENUE | $11.4B |
| Cost of Revenue | $10.7B |
| GROSS PROFIT | $695M |
| R&D Expenses | $0 |
| Selling & Marketing | $9M |
| General & Administrative | $1.0B |
| SG&A Expenses | $1.0B |
| Other Expenses | -$358M |
| Operating Expenses | $686M |
| Cost & Expenses | $11.4B |
| OPERATING INCOME | $9M |
| Interest Income | $107M |
| Interest Expense | $202M |
| Other Income/Expenses | -$109M |
| INCOME BEFORE TAX | -$101M |
| Income Tax Expense | $109M |
| Net Income from Continuing Ops | -$210M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | -$152M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | -$146M |
| D&A | $672M |
| EBIT | -$100M |
| EBITDA | $573M |
| EPS | -$0 |
| EPS Diluted | -$0 |
| Item | Amount |
|---|---|
| Net Income | -$152M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $1.1B |
| Change in Working Capital | $355M |
| OPERATING CASH FLOW | $1.3B |
| Capital Expenditure | -$1.1B |
| Acquisitions (Net) | $0 |
| Purchases of Investments | $0 |
| Sales/Maturities of Investments | $0 |
| Other Investing Activities | -$1.5B |
| NET CASH FROM INVESTING | -$1.5B |
| Net Debt Issuance | $59M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$128M |
| Other Financing Activities | $115M |
| NET CASH FROM FINANCING | $46M |
| FREE CASH FLOW | $223M |
| Net Change in Cash | -$80M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $10.5B |
| Short-Term Investments | $2.3B |
| Net Receivables | $7.6B |
| Inventory | $9.2B |
| Other Current Assets | $7.1B |
| TOTAL CURRENT ASSETS | $29.6B |
| PP&E (Net) | $28.5B |
| Goodwill | $558M |
| Intangible Assets | $3.1B |
| Long-Term Investments | $7.7B |
| Tax Assets | $0 |
| Other Non-Current Assets | $1.6B |
| TOTAL NON-CURRENT ASSETS | $41.4B |
| TOTAL ASSETS | $71.0B |
| Account Payables | $3.4B |
| Short-Term Debt | $8.3B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $3.9B |
| TOTAL CURRENT LIABILITIES | $15.6B |
| Long-Term Debt | $11.1B |
| Deferred Revenue NC | $3M |
| Deferred Tax Liabilities | $783M |
| Other Non-Current Liabilities | $665M |
| TOTAL NON-CURRENT LIABILITIES | $13.3B |
| TOTAL LIABILITIES | $28.9B |
| Common Stock | $326M |
| Additional Paid-In Capital | $1.1B |
| Retained Earnings | $35.9B |
| Treasury Stock | -$794M |
| Accum. Other Comp. Income | $1.1B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $37.6B |
| Minority Interest | $4.5B |
| TOTAL EQUITY | $42.1B |
| TOTAL LIABILITIES & EQUITY | $71.0B |
| Total Debt | $19.2B |
| Net Debt | $8.7B |
