| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | — | $1.3B | — | -3.9% |
| Op. Income | $199M | — | $198M | — | 0.5% |
| Gross Margin | 22.6% | — | 31.9% | — | -9.3pp |
| Net Margin | 10.7% | — | 8.4% | — | 2.4pp |
| EPS (Diluted) | $1.91 | — | $1.50 | — | 27.3% |
| Free Cash Flow | $217M | — | $149M | — | 45.6% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $998M |
| GROSS PROFIT | $291M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $92M |
| Operating Expenses | $92M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $199M |
| Interest Income | $10M |
| Interest Expense | $31M |
| Other Income/Expenses | -$71M |
| INCOME BEFORE TAX | $128M |
| Income Tax Expense | -$11M |
| Net Income from Continuing Ops | $139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $138M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $138M |
| D&A | $74M |
| EBIT | $171M |
| EBITDA | $245M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $998M |
| GROSS PROFIT | $291M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $0 |
| SG&A Expenses | $0 |
| Other Expenses | $92M |
| Operating Expenses | $92M |
| Cost & Expenses | $1.1B |
| OPERATING INCOME | $199M |
| Interest Income | $10M |
| Interest Expense | $31M |
| Other Income/Expenses | -$71M |
| INCOME BEFORE TAX | $128M |
| Income Tax Expense | -$11M |
| Net Income from Continuing Ops | $139M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $138M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $138M |
| D&A | $74M |
| EBIT | $171M |
| EBITDA | $245M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $139M |
| Depreciation & Amortization | $74M |
| Stock-Based Compensation | $12M |
| Deferred Income Tax | -$27M |
| Other Non-Cash Items | $3M |
| Change in Working Capital | $67M |
| OPERATING CASH FLOW | $268M |
| Capital Expenditure | -$51M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$14M |
| Sales/Maturities of Investments | $13M |
| Other Investing Activities | -$11M |
| NET CASH FROM INVESTING | -$63M |
| Net Debt Issuance | -$126M |
| Common Stock Repurchased | -$7M |
| Common Dividends Paid | -$18M |
| Other Financing Activities | -$46M |
| NET CASH FROM FINANCING | -$197M |
| FREE CASH FLOW | $217M |
| Net Change in Cash | $11M |
| Item | Amount |
|---|---|
| Cash & Equivalents | $1.0B |
| Short-Term Investments | $0 |
| Net Receivables | $1.3B |
| Inventory | $836M |
| Other Current Assets | $189M |
| TOTAL CURRENT ASSETS | $3.4B |
| PP&E (Net) | $1.3B |
| Goodwill | $0 |
| Intangible Assets | $285M |
| Long-Term Investments | $32M |
| Tax Assets | $0 |
| Other Non-Current Assets | $256M |
| TOTAL NON-CURRENT ASSETS | $1.8B |
| TOTAL ASSETS | $5.2B |
| Account Payables | $650M |
| Short-Term Debt | $78M |
| Deferred Revenue | $48M |
| Other Current Liabilities | $347M |
| TOTAL CURRENT LIABILITIES | $1.5B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $2M |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $289M |
| TOTAL NON-CURRENT LIABILITIES | $2.0B |
| TOTAL LIABILITIES | $3.5B |
| Common Stock | $0 |
| Additional Paid-In Capital | $2.8B |
| Retained Earnings | -$1.1B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | $13M |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $1.7B |
| Minority Interest | -$3M |
| TOTAL EQUITY | $1.7B |
| TOTAL LIABILITIES & EQUITY | $5.2B |
| Total Debt | $1.8B |
| Net Debt | $709M |
