Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise2.9%
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Aug 25, 2026
$2.23
$2.19
2.0%
March 31, 2026
May 20, 2026
$1.87
$1.78
5.1%
Dec. 31, 2025
$1.90
$1.99
-4.5%
Sept. 30, 2025
$2.16
$2.13
1.3%
June 30, 2025
$2.09
$1.90
10.3%
March 31, 2025
$1.72
$1.61
7.0%
Dec. 31, 2024
$1.58
$1.59
-0.61%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement16
Metric
Trend
2025
2024
2023
2022
2021
2020
Revenue
$8.27B
$7.36B
$5.95B
$4.51B
$4.26B
$1.94B
Cost of Revenue
$1.24B
$1.24B
$1.06B
$755M
$555M
$240M
R&D Expense
$1.65B
$1.82B
$1.54B
$1.18B
$822M
$513M
SG&A Expense
$1.20B
$1.09B
$812M
$720M
$1.99B
$797M
Operating Expenses
$5.78B
$6.22B
$5.41B
$4.66B
$5.31B
·
Operating Income
$2.46B
$1.17B
$581M
$-130M
$-1.04B
$-945M
Interest Income
·
·
·
$65M
$25M
$9M
Other Non-op
$19M
$34M
$33M
$11M
$-8M
$-4M
Pretax Income
$3.20B
$1.83B
$1.22B
$117M
$-1.01B
$-942M
Income Tax
$510M
$266M
$123M
$10M
$60M
·
Net Income
$2.74B
$1.58B
$1.10B
$107M
$-1.07B
$-942M
EPS (Basic)
$3.04
$1.80
$1.26
$0.12
$-2.33
$-11.03
EPS (Diluted)
$2.95
$1.74
$1.22
$0.12
$-2.33
$-11.03
Shares (Basic)
901,033,318
881,882,225
870,304,878
868,941,151
529,343,027
111,172,986
Shares (Diluted)
926,992,531
909,228,757
902,735,995
912,141,991
529,343,027
111,172,986
EBITDA
$2.46B
$1.17B
$581M
$-130M
$-1.04B
·
Balance Sheet27
Metric
Trend
2025
2024
2023
2022
2021
2020
Cash & Equivalents
$4.10B
$2.55B
$2.47B
$9.75B
$11.34B
$4.00B
Short-term Investments
$9.45B
$6.64B
$3.51B
$2.67B
$885M
$536M
Receivables
$33M
$41M
$17M
$10M
$1M
$7M
Inventory
$2M
$3M
·
·
·
·
Prepaid Expense
$365M
$368M
$443M
$601M
$725M
$165M
Other Current Assets
$20M
$69M
$24M
$42M
$20M
$6M
Current Assets
$20.36B
$15.10B
$13.37B
$13.83B
$12.96B
$4.75B
PP&E (Net)
$1.25B
$1.73B
$1.79B
$691M
$369M
$191M
PP&E (Gross)
$2.67B
$2.75B
$2.32B
$972M
$515M
$258M
Accum. Depreciation
$1.42B
$1.02B
$530M
$281M
$146M
$66M
Goodwill
$7M
$7M
$6M
$6M
·
·
Intangibles
$101M
$253M
$8M
$10M
$458.0K
$549.0K
Other Non-current Assets
·
·
$4M
$4M
$4M
·
Total Assets
$24.57B
$19.31B
$17.94B
$14.83B
$13.64B
$5.08B
Accounts Payable
$120M
$111M
$629M
$185M
$53M
$42M
Current Liabilities
$4.37B
$4.19B
$4.36B
$3.03B
$2.78B
$1.72B
Capital Leases
$64M
$121M
$125M
$144M
$183M
$76M
Deferred Tax
$52M
$34M
$28M
$11M
·
·
Total Liabilities
$4.49B
$4.35B
$4.51B
$3.19B
$2.97B
$1.80B
Common Stock
$618.0K
$571.0K
$564.0K
$564.0K
·
·
Paid-in Capital
$18.12B
$16.23B
$15.50B
$15.45B
$14.62B
$452M
Retained Earnings
$1.22B
$-918M
$-2.49B
$-3.59B
$-3.69B
$-2.62B
Treasury Stock
$204M
$1.52B
$480M
$919M
·
·
AOCI
$843M
$1.05B
$899M
$695M
$-258M
$-130M
Stockholders' Equity
$20.03B
$14.87B
$13.43B
$11.64B
$10.67B
$-2.30B
Liabilities + Equity
$24.57B
$19.31B
$17.94B
$14.83B
$13.64B
$5.08B
Shares Outstanding
930,987,812
869,298,062
879,802,778
865,413,376
868,685,634
128,983,824
Cash Flow15
Metric
Trend
2025
2024
2023
2022
2021
2020
D&A
·
·
$259M
$140M
$80M
$41M
Stock-based Comp
$912M
$1.14B
$1.06B
$692M
$417M
$124M
Deferred Tax
$-21M
$9M
$14M
$9M
·
·
Amort. of Intangibles
$32M
$34M
$2M
$608.0K
·
·
Operating Cash Flow
$4.55B
$3.54B
$3.05B
$1.00B
$1.64B
$396M
CapEx
$119M
$856M
$956M
$340M
$260M
$138M
Investing Cash Flow
$-4.61B
$-2.02B
$-9.94B
$-2.82B
$-602M
$467M
Stock Issued
$2.00B
·
·
·
$0
$79M
Stock Repurchased
$143M
$1.65B
$72M
$919M
$12M
$0
Net Stock Activity
$1.86B
$-1.65B
$-72M
·
$-12M
·
Dividends Paid
$553M
·
$563M
·
·
·
Financing Cash Flow
$1.65B
$-1.46B
$-417M
$-669M
$6.43B
$2.88B
Net Change in Cash
$1.55B
$80M
$-7.28B
$-1.59B
$7.34B
$3.59B
Taxes Paid
$504M
$307M
$133M
$101M
·
·
Free Cash Flow
$4.43B
$2.69B
$2.09B
$663M
$1.38B
·
Profitability7
Metric
Trend
2025
2024
2023
2022
2021
2020
Operating Margin
29.8%
16.0%
9.8%
-2.9%
-24.3%
·
Net Margin
33.1%
21.3%
18.5%
2.4%
-25.1%
·
Pretax Margin
38.7%
24.9%
20.5%
2.6%
-23.8%
·
EBITDA Margin
29.8%
16.0%
9.8%
-2.9%
-24.3%
·
ROA
12.5%
8.4%
6.7%
0.75%
-11.4%
·
ROE
15.7%
11.1%
8.8%
0.96%
-25.6%
·
ROIC
10.3%
6.8%
3.9%
-1.0%
-10.3%
·
Liquidity & Solvency2
Metric
Trend
2025
2024
2023
2022
2021
2020
Current Ratio
4.7
3.6
3.1
4.6
4.7
·
Quick Ratio
3.1
2.2
1.4
4.4
4.4
·
Efficiency3
Metric
Trend
2025
2024
2023
2022
2021
2020
Asset Turnover
0.4
0.4
0.4
0.3
0.5
·
Inventory Turnover
454.4
815.1
·
·
·
·
Receivables Turnover
223.9
256.1
447.7
830.5
1064.6
·
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
Book Value / Share
$21.52
$17.10
$15.26
$13.45
$12.29
·
Revenue / Share
$8.92
$8.09
$6.59
$4.95
·
·
Cash Flow / Share
$4.91
$3.90
$3.38
$1.10
·
·
Cash / Share
$4.41
$2.94
$2.81
$11.27
$13.06
·
EPS (TTM)
$2.95
$1.74
$1.22
$0.12
$-2.33
·
Valuation (TTM)13
Metric
Trend
2025
2024
2023
2022
2021
2020
Revenue TTM
$8.27B
$7.36B
$5.95B
$4.51B
$4.26B
·
Net Income TTM
$2.74B
$1.58B
$1.10B
$107M
$-1.07B
·
Market Cap
$18.97B
$12.00B
$14.61B
$17.63B
$30.30B
·
P/E
6.9
7.9
13.6
169.8
-15.0
·
P/S
2.3
1.6
2.5
3.9
7.1
·
P/B
0.9
0.8
1.1
1.5
2.8
·
P / Tangible Book
1.0
0.8
1.1
1.5
2.8
·
P / Cash Flow
4.2
3.4
4.8
17.6
18.5
·
P / FCF
4.3
4.5
7.0
26.6
21.9
·
Dividend Yield
2.9%
·
3.9%
·
·
·
Earnings Yield
14.5%
12.6%
7.3%
0.59%
-6.7%
·
Payout Ratio
20.2%
·
51.2%
·
·
·
Annual Payout
$553M
·
$563M
·
·
·
Per Share1
Metric
Trend
Q4 2025
EPS (TTM)
$2.95
Valuation (TTM)5
Metric
Trend
Q4 2025
Revenue TTM
$8.27B
Net Income TTM
$2.74B
P/E
6.9
Earnings Yield
14.5%
Annual Payout
$553M
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Revenue
$8.27B
$7.36B
$5.95B
$4.51B
$4.26B
Operating Margin %
29.8%
16.0%
9.8%
-2.9%
-24.3%
Net Income
$2.74B
$1.58B
$1.10B
$107M
$-1.07B
Diluted EPS
$2.95
$1.74
$1.22
$0.12
$-2.33
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Current Ratio
4.7
3.6
3.1
4.6
4.7
Quick Ratio
3.1
2.2
1.4
4.4
4.4
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Free Cash Flow
$4.43B
$2.69B
$2.09B
$663M
$1.38B
Institutional owners (13F)
271 filers
· $4.0B total
· As of Sept. 30, 2026
17
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders271
Value held$4.0B
New positions29
Exited positions27
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
29 (-13 vs prior Q)
27 (-13 vs prior Q)
95 (-17 vs prior Q)
97 (+22 vs prior Q)
-8.0M
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.