| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.7B | $1.7B | $1.6B | 0.8% | 5.9% |
| Op. Income | $258M | $227M | $212M | 13.5% | 21.9% |
| Gross Margin | 46.8% | 24.5% | 25.7% | 22.3pp | 21.0pp |
| Net Margin | 11.9% | 10.8% | 10.6% | 1.1pp | 1.2pp |
| EPS (Diluted) | $5.47 | $4.91 | $4.59 | 11.4% | 19.2% |
| Free Cash Flow | $377M | $551M | $211M | -31.6% | 79.1% |
| Item | Amount |
|---|---|
| REVENUE | $1.7B |
| Cost of Revenue | $890M |
| GROSS PROFIT | $782M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $524M |
| Operating Expenses | $524M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $258M |
| Interest Income | $0 |
| Interest Expense | $15M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $258M |
| Income Tax Expense | $61M |
| Net Income from Continuing Ops | $197M |
| Net Income from Discontinued Ops | $2M |
| Other Adjustments | $0 |
| NET INCOME | $199M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $199M |
| D&A | $0 |
| EBIT | $272M |
| EBITDA | $272M |
| EPS | $6 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| REVENUE | $1.7B |
| Cost of Revenue | $890M |
| GROSS PROFIT | $782M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $524M |
| Operating Expenses | $524M |
| Cost & Expenses | $1.4B |
| OPERATING INCOME | $258M |
| Interest Income | $0 |
| Interest Expense | $15M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $258M |
| Income Tax Expense | $61M |
| Net Income from Continuing Ops | $197M |
| Net Income from Discontinued Ops | $2M |
| Other Adjustments | $0 |
| NET INCOME | $199M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $199M |
| D&A | $0 |
| EBIT | $272M |
| EBITDA | $272M |
| EPS | $6 |
| EPS Diluted | $5 |
| Item | Amount |
|---|---|
| Net Income | $199M |
| Depreciation & Amortization | -$1M |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $30M |
| Change in Working Capital | $151M |
| OPERATING CASH FLOW | $378M |
| Capital Expenditure | -$1M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$515M |
| Sales/Maturities of Investments | $492M |
| Other Investing Activities | $2M |
| NET CASH FROM INVESTING | -$22M |
| Net Debt Issuance | -$62M |
| Common Stock Repurchased | -$55M |
| Common Dividends Paid | -$34M |
| Other Financing Activities | -$1M |
| NET CASH FROM FINANCING | -$150M |
| FREE CASH FLOW | $377M |
| Net Change in Cash | $207M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.1B |
| Short-Term Investments | $1.9B |
| Net Receivables | $1.9B |
| Inventory | $0 |
| Other Current Assets | -$4.9B |
| TOTAL CURRENT ASSETS | $0 |
| PP&E (Net) | $0 |
| Goodwill | $179M |
| Intangible Assets | $703M |
| Long-Term Investments | $8.5B |
| Tax Assets | $0 |
| Other Non-Current Assets | $7.6B |
| TOTAL NON-CURRENT ASSETS | $16.9B |
| TOTAL ASSETS | $16.9B |
| Account Payables | $45M |
| Short-Term Debt | $375M |
| Deferred Revenue | $0 |
| Other Current Liabilities | -$1.2B |
| TOTAL CURRENT LIABILITIES | $0 |
| Long-Term Debt | $843M |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $10.5B |
| TOTAL NON-CURRENT LIABILITIES | $11.4B |
| TOTAL LIABILITIES | $13.4B |
| Common Stock | $600.0K |
| Additional Paid-In Capital | $2.0B |
| Retained Earnings | $3.7B |
| Treasury Stock | -$2.0B |
| Accum. Other Comp. Income | -$171M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $3.6B |
| Minority Interest | $0 |
| TOTAL EQUITY | $3.6B |
| TOTAL LIABILITIES & EQUITY | $16.9B |
| Total Debt | $1.2B |
| Net Debt | $96M |
