| Metric | Q4 2025 | Q3 2025 | Q4 2024 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue | $1.3B | $1.3B | $1.3B | -0.2% | -0.3% |
| Op. Income | $339M | $285M | $270M | 18.9% | 25.6% |
| Gross Margin | 70.9% | 64.8% | 62.1% | 6.1pp | 8.8pp |
| Net Margin | 21.0% | 17.7% | 17.2% | 3.3pp | 3.8pp |
| EPS (Diluted) | $1.77 | $1.48 | $1.34 | 19.6% | 32.1% |
| Free Cash Flow | $410M | $413M | $489M | -0.7% | -16.2% |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $364M |
| GROSS PROFIT | $887M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $378M |
| SG&A Expenses | $378M |
| Other Expenses | $170M |
| Operating Expenses | $548M |
| Cost & Expenses | $912M |
| OPERATING INCOME | $339M |
| Interest Income | $1.0B |
| Interest Expense | $358M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $339M |
| Income Tax Expense | $76M |
| Net Income from Continuing Ops | $263M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $263M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $262M |
| D&A | $0 |
| EBIT | $339M |
| EBITDA | $339M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| REVENUE | $1.3B |
| Cost of Revenue | $364M |
| GROSS PROFIT | $887M |
| R&D Expenses | $0 |
| Selling & Marketing | $0 |
| General & Administrative | $378M |
| SG&A Expenses | $378M |
| Other Expenses | $170M |
| Operating Expenses | $548M |
| Cost & Expenses | $912M |
| OPERATING INCOME | $339M |
| Interest Income | $1.0B |
| Interest Expense | $358M |
| Other Income/Expenses | $0 |
| INCOME BEFORE TAX | $339M |
| Income Tax Expense | $76M |
| Net Income from Continuing Ops | $263M |
| Net Income from Discontinued Ops | $0 |
| Other Adjustments | $0 |
| NET INCOME | $263M |
| Net Income Deductions | $0 |
| BOTTOM LINE NET INCOME | $262M |
| D&A | $0 |
| EBIT | $339M |
| EBITDA | $339M |
| EPS | $2 |
| EPS Diluted | $2 |
| Item | Amount |
|---|---|
| Net Income | $263M |
| Depreciation & Amortization | $0 |
| Stock-Based Compensation | $0 |
| Deferred Income Tax | $0 |
| Other Non-Cash Items | $141M |
| Change in Working Capital | $44M |
| OPERATING CASH FLOW | $448M |
| Capital Expenditure | -$38M |
| Acquisitions (Net) | $0 |
| Purchases of Investments | -$144M |
| Sales/Maturities of Investments | $308M |
| Other Investing Activities | -$707M |
| NET CASH FROM INVESTING | -$581M |
| Net Debt Issuance | -$653M |
| Common Stock Repurchased | $0 |
| Common Dividends Paid | -$67M |
| Other Financing Activities | $766M |
| NET CASH FROM FINANCING | $45M |
| FREE CASH FLOW | $410M |
| Net Change in Cash | $0 |
| Item | Amount |
|---|---|
| Cash & Equivalents | $2.9B |
| Short-Term Investments | $9.3B |
| Net Receivables | $0 |
| Inventory | $0 |
| Other Current Assets | $0 |
| TOTAL CURRENT ASSETS | $12.2B |
| PP&E (Net) | $1.4B |
| Goodwill | $1.1B |
| Intangible Assets | $31M |
| Long-Term Investments | $69.3B |
| Tax Assets | $0 |
| Other Non-Current Assets | $5.0B |
| TOTAL NON-CURRENT ASSETS | $76.8B |
| TOTAL ASSETS | $89.0B |
| Account Payables | $0 |
| Short-Term Debt | $2.9B |
| Deferred Revenue | $0 |
| Other Current Liabilities | $75.6B |
| TOTAL CURRENT LIABILITIES | $78.5B |
| Long-Term Debt | $1.5B |
| Deferred Revenue NC | $0 |
| Deferred Tax Liabilities | $0 |
| Other Non-Current Liabilities | $1.8B |
| TOTAL NON-CURRENT LIABILITIES | $3.3B |
| TOTAL LIABILITIES | $81.8B |
| Common Stock | $1.7B |
| Additional Paid-In Capital | $0 |
| Retained Earnings | $7.3B |
| Treasury Stock | $0 |
| Accum. Other Comp. Income | -$1.9B |
| Other Equity | $0 |
| TOTAL STOCKHOLDERS' EQUITY | $7.2B |
| Minority Interest | $0 |
| TOTAL EQUITY | $7.2B |
| TOTAL LIABILITIES & EQUITY | $89.0B |
| Total Debt | $4.3B |
| Net Debt | $1.5B |
