Growth Streak≈7Consecutive years of dividend growth
Ex-date
Amount
Currency
Yield
Aug 6, 2026
$0.79
USD
≈7.7%
May 7, 2026
$0.78
USD
≈7.9%
Feb 5, 2026
$0.76
USD
≈8.5%
Nov 6, 2025
$0.76
USD
≈8.7%
Aug 7, 2025
$0.74
USD
≈6.9%
May 8, 2025
$0.71
USD
≈7.5%
Feb 6, 2025
$0.70
USD
≈6.7%
Nov 7, 2024
$0.69
USD
≈7.5%
Aug 8, 2024
$0.67
USD
≈7.1%
May 1, 2024
$0.65
USD
≈7.5%
Feb 7, 2024
$0.63
USD
≈7.5%
Nov 1, 2023
$0.62
USD
≈8.1%
Aug 2, 2023
$0.60
USD
≈7.6%
May 3, 2023
$0.59
USD
≈8.1%
Feb 1, 2023
$0.57
USD
≈7.5%
Nov 2, 2022
$0.56
USD
≈7.9%
Aug 3, 2022
$0.56
USD
≈7.4%
May 4, 2022
$0.55
USD
≈6.8%
Feb 2, 2022
$0.52
USD
≈6.8%
Nov 3, 2021
$0.51
USD
≈7.7%
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise5.6%
Next ReportNov 02, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Jul 28, 2026
$0.75
$0.69
9.5%
March 31, 2026
$0.68
$0.66
3.2%
Dec. 31, 2025
$0.72
$0.73
-1.2%
Sept. 30, 2025
$0.75
$0.68
10.1%
June 30, 2025
$0.74
$0.68
9.0%
March 31, 2025
$0.65
$0.63
3.0%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement8
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue
$1.62B
$1.50B
$1.35B
$1.28B
$1.20B
$1.09B
$848M
$713M
SG&A Expense
$28M
$26M
$26M
$23M
$23M
$21M
$52M
$14M
Operating Expenses
$613M
$576M
$532M
$484M
$477M
$515M
$472M
$334M
Operating Income
$1.01B
$919M
$817M
$791M
$727M
$576M
$377M
$378M
Pretax Income
$798M
$731M
$646M
$647M
$632M
$492M
$318M
$326M
Income Tax
$114M
$72M
$38M
$27M
$15M
$7M
$-100.0K
·
Net Income
$353M
$223M
$119M
$84M
$46M
$24M
$70M
$71M
EBITDA
$1.01B
$919M
$817M
$791M
$727M
$576M
$377M
·
Balance Sheet20
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Cash & Equivalents
$2M
$4M
$5M
$3M
$2M
$3M
$3M
$109M
Receivables
$144M
$135M
$122M
$123M
·
·
·
·
Other Current Assets
$7M
$6M
$7M
$6M
$11M
$6M
$5M
$3M
Current Assets
$159M
$149M
$137M
$132M
$133M
$101M
$96M
$180M
PP&E (Net)
$3.37B
$3.33B
$3.23B
$3.17B
$3.12B
$3.11B
$3.01B
$2.74B
PP&E (Gross)
$5.37B
$5.12B
$4.82B
$4.57B
$4.34B
$4.16B
$3.90B
$3.49B
Accum. Depreciation
$2.00B
$1.79B
$1.59B
$1.40B
$1.22B
$1.05B
$895M
$753M
Other Non-current Assets
$4M
$6M
$9M
$11M
$8M
$10M
$13M
$7M
Total Assets
$4.39B
$4.15B
$3.79B
$3.59B
$3.49B
$3.37B
$3.28B
$2.99B
Accounts Payable
$27M
$34M
$41M
$28M
·
·
·
·
Accrued Liabilities
$89M
$94M
$106M
$83M
$76M
$54M
$89M
$86M
Current Liabilities
$188M
$219M
$210M
$160M
$171M
$125M
$176M
$138M
Capital Leases
·
·
·
·
·
·
$600.0K
·
Deferred Tax
$500.0K
$500.0K
$500.0K
$500.0K
$400.0K
·
·
·
Other Non-current Liabilities
$23M
$16M
$17M
$16M
$18M
$23M
$16M
$7M
Total Liabilities
$3.95B
$3.69B
$3.43B
$3.06B
$2.73B
$2.05B
$1.95B
$1.12B
Long-term Debt
$3.77B
$3.47B
$3.21B
$2.89B
$2.56B
$1.91B
$1.75B
$981M
Total Debt
$3.77B
$3.47B
$3.21B
$2.89B
$2.56B
$1.91B
$1.75B
·
AOCI
·
·
·
·
·
·
$400.0K
$1M
Liabilities + Equity
$4.39B
$4.15B
$3.79B
$3.59B
$3.49B
$3.37B
$3.28B
$2.99B
Cash Flow10
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Stock-based Comp
$2M
$2M
$2M
$2M
$1M
$2M
$2M
$900.0K
Deferred Tax
$114M
$72M
$38M
$27M
$15M
$7M
$-100.0K
·
Operating Cash Flow
$984M
$940M
$866M
$861M
$796M
$642M
$471M
$467M
CapEx
$256M
$306M
$224M
$238M
$163M
$301M
$306M
$242M
Investing Cash Flow
$-256M
$-306M
$-224M
$-238M
$-163M
$-301M
$-498M
$-308M
Stock Repurchased
$400M
$300M
$400M
$400M
$750M
·
·
·
Net Stock Activity
$-400M
$-300M
$-400M
$-400M
$-750M
·
·
·
Financing Cash Flow
$-731M
$-635M
$-641M
$-622M
$-633M
$-341M
$-79M
$-406M
Net Change in Cash
$-2M
$-1M
$2M
$900.0K
$-400.0K
$-700.0K
$-106M
$-246M
Free Cash Flow
$728M
$634M
$643M
$623M
$632M
$341M
$164M
·
Profitability6
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Operating Margin
62.2%
61.5%
60.6%
62.1%
60.4%
52.8%
44.4%
·
Net Margin
21.8%
14.9%
8.8%
6.6%
3.9%
2.2%
8.3%
·
Pretax Margin
49.2%
48.9%
47.9%
50.7%
52.5%
45.1%
37.4%
·
EBITDA Margin
62.2%
61.5%
60.6%
62.1%
60.4%
52.8%
44.4%
·
ROA
8.3%
5.6%
3.2%
2.4%
1.4%
0.72%
2.2%
·
ROIC
22.9%
23.9%
23.9%
26.3%
27.7%
29.7%
21.5%
·
Liquidity & Solvency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Current Ratio
0.8
0.7
0.7
0.8
0.8
0.8
0.5
·
Quick Ratio
0.8
0.6
0.6
0.0
0.0
0.0
0.0
·
Efficiency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Asset Turnover
0.4
0.4
0.4
0.4
0.4
0.3
0.3
·
Receivables Turnover
11.6
11.6
11.0
·
·
·
·
·
Growth Rates6
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue YoY
8.4%
10.9%
5.8%
5.9%
10.2%
·
·
·
Revenue CAGR 3Y
8.3%
7.5%
7.3%
·
·
·
·
·
Revenue CAGR 5Y
8.2%
·
·
·
·
·
·
·
Net Income YoY
58.2%
88.1%
41.4%
80.8%
93.3%
·
·
·
Net Income CAGR 3Y
61.4%
68.8%
70.3%
·
·
·
·
·
Net Income CAGR 5Y
71.2%
·
·
·
·
·
·
·
Valuation (TTM)2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue TTM
$1.62B
$1.50B
$1.35B
$1.28B
$1.20B
$1.09B
$848M
·
Net Income TTM
$353M
$223M
$119M
$84M
$46M
$24M
$70M
·
Income Statement8
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Revenue
$399M
$390M
$404M
$421M
$414M
$382M
$396M
$378M
$366M
$356M
$363M
$324M
$305M
$335M
$313M
$312M
SG&A Expense
$6M
$8M
$6M
$7M
$8M
$8M
$9M
$6M
$5M
$6M
$6M
$6M
$6M
$6M
$5M
$6M
Operating Expenses
$146M
$152M
$153M
$162M
$154M
$145M
$153M
$147M
$143M
$134M
$143M
$126M
$116M
$131M
$118M
$117M
Operating Income
$253M
$238M
$252M
$259M
$260M
$237M
$243M
$232M
$222M
$222M
$220M
$198M
$189M
$204M
$195M
$196M
Pretax Income
$205M
$186M
$198M
$207M
$209M
$184M
$195M
$184M
$176M
$176M
$176M
$156M
$149M
$167M
$159M
$165M
Income Tax
$31M
$28M
$30M
$32M
$29M
$23M
$23M
$19M
$16M
$14M
$11M
$8M
$6M
$8M
$7M
$5M
Net Income
$96M
$88M
$93M
$98M
$90M
$72M
$70M
$59M
$50M
$45M
$35M
$25M
$21M
$23M
$22M
$17M
EBITDA
$253M
$238M
·
$259M
$260M
$237M
·
$232M
$222M
$222M
$220M
$198M
$189M
$204M
$195M
$196M
Balance Sheet18
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Cash & Equivalents
$5M
$5M
$2M
$6M
$4M
$6M
$4M
$10M
$100M
$4M
$3M
$3M
$4M
$3M
$2M
$3M
Receivables
$143M
$149M
$144M
$145M
$138M
$137M
$135M
$128M
$110M
$128M
$122M
$110M
·
·
·
·
Other Current Assets
$900.0K
$5M
$7M
$4M
$2M
$3M
$6M
$13M
$2M
$4M
$12M
$800.0K
$4M
$14M
$2M
$7M
Current Assets
$157M
$166M
$159M
$168M
$151M
$150M
$149M
$154M
$214M
$139M
$138M
$114M
$117M
$147M
$158M
$147M
PP&E (Net)
$3.30B
$3.32B
$3.37B
$3.38B
$3.34B
$3.32B
$3.33B
$3.29B
$3.24B
$3.21B
$3.21B
$3.19B
$3.18B
$3.16B
$3.14B
$3.12B
PP&E (Gross)
$5.42B
$5.39B
$5.37B
$5.33B
$5.24B
$5.17B
$5.12B
$5.03B
$4.93B
$4.85B
$4.75B
$4.68B
$4.63B
$4.51B
$4.45B
$4.38B
Accum. Depreciation
$2.12B
$2.06B
$2.00B
$1.95B
$1.89B
$1.84B
$1.79B
$1.74B
$1.69B
$1.64B
$1.54B
$1.49B
$1.44B
$1.35B
$1.31B
$1.26B
Other Non-current Assets
$4M
$5M
$4M
$5M
$5M
$6M
$6M
$7M
$8M
$8M
$9M
$10M
$11M
$12M
$6M
$7M
Total Assets
$4.26B
$4.32B
$4.39B
$4.44B
$4.42B
$4.26B
$4.15B
$4.15B
$4.05B
$3.86B
$3.78B
$3.66B
$3.58B
$3.60B
$3.60B
$3.48B
Accounts Payable
$29M
$23M
$27M
$53M
$44M
$40M
$34M
$45M
$42M
$21M
$36M
$24M
·
·
·
·
Accrued Liabilities
$98M
$88M
$89M
$90M
$102M
$92M
$94M
$104M
$88M
$86M
$89M
$83M
$71M
$84M
$85M
$56M
Current Liabilities
$204M
$181M
$188M
$224M
$214M
$186M
$219M
$221M
$192M
$157M
$174M
$149M
$138M
$158M
$152M
$144M
Deferred Tax
$500.0K
$500.0K
$500.0K
$500.0K
$500.0K
$500.0K
$500.0K
$500.0K
$400.0K
$400.0K
$500.0K
$400.0K
$400.0K
$400.0K
$400.0K
$400.0K
Other Non-current Liabilities
$22M
$24M
$23M
$22M
$15M
$17M
$16M
$14M
$12M
$13M
$18M
$14M
$16M
$21M
$21M
$18M
Total Liabilities
$3.87B
$3.94B
$3.95B
$4.01B
$3.92B
$3.75B
$3.69B
$3.71B
$3.65B
$3.48B
$3.33B
$3.22B
$3.14B
$3.09B
$3.11B
$2.70B
Long-term Debt
$3.68B
$3.77B
$3.77B
$3.79B
$3.71B
$3.57B
$3.47B
$3.49B
$3.46B
$3.33B
$3.15B
$3.07B
$2.99B
·
·
$2.56B
Total Debt
$3.68B
$3.77B
·
$3.79B
$3.71B
$3.57B
·
$3.49B
$3.46B
$3.33B
$3.15B
$3.07B
$2.99B
$2.91B
$2.94B
$2.56B
Liabilities + Equity
$4.26B
$4.32B
$4.39B
$4.44B
$4.42B
$4.26B
$4.15B
$4.15B
$4.05B
$3.86B
$3.78B
$3.66B
$3.58B
$3.60B
$3.60B
$3.48B
Cash Flow10
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Stock-based Comp
$100.0K
$200.0K
$200.0K
$800.0K
$300.0K
$300.0K
$700.0K
$500.0K
$100.0K
$500.0K
$300.0K
$400.0K
$600.0K
$400.0K
$400.0K
$500.0K
Deferred Tax
$31M
$28M
$30M
$32M
$29M
$23M
$23M
$19M
$16M
$14M
$11M
$8M
$6M
$8M
$7M
$5M
Operating Cash Flow
$279M
$253M
$246M
$259M
$277M
$202M
$258M
$225M
$272M
$185M
$216M
$205M
$199M
$235M
$213M
$191M
CapEx
$23M
$29M
$67M
$80M
$63M
$46M
$95M
$92M
$64M
$55M
$53M
$43M
$64M
$66M
$56M
$55M
Investing Cash Flow
$-23M
$-29M
$-67M
$-80M
$-63M
$-46M
$-95M
$-92M
$-64M
$-55M
$-53M
$-43M
$-64M
$-66M
$-56M
$-55M
Stock Repurchased
$0
$60M
$0
$100M
$200M
$100M
$0
$100M
$100M
$100M
$100M
$100M
$100M
$0
·
·
Net Stock Activity
·
$-60M
·
·
·
$-100M
·
·
·
$-100M
·
·
$-100M
·
·
·
Financing Cash Flow
$-255M
$-222M
$-182M
$-178M
$-215M
$-155M
$-169M
$-222M
$-112M
$-132M
$-162M
$-162M
$-134M
$-169M
$-158M
$-135M
Net Change in Cash
$400.0K
$3M
$-4M
$1M
$-2M
$2M
$-6M
$-89M
$95M
$-1M
$300.0K
$-600.0K
$500.0K
$200.0K
$-600.0K
$800.0K
Free Cash Flow
·
$224M
·
·
·
$157M
·
·
·
$130M
·
·
$134M
·
·
$136M
Profitability6
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Operating Margin
63.5%
61.0%
·
61.5%
62.8%
62.2%
·
61.2%
60.8%
62.4%
60.6%
61.1%
61.9%
60.9%
62.3%
62.6%
Net Margin
24.2%
22.5%
·
23.2%
21.8%
18.7%
·
15.5%
13.5%
12.5%
9.7%
7.8%
6.8%
6.9%
7.0%
5.4%
Pretax Margin
51.3%
47.6%
·
49.2%
50.4%
48.3%
·
48.5%
48.2%
49.5%
48.5%
48.1%
48.8%
49.9%
50.7%
52.7%
EBITDA Margin
63.5%
61.0%
·
61.5%
62.8%
62.2%
·
61.2%
60.8%
62.4%
60.6%
61.1%
61.9%
60.9%
62.3%
62.6%
ROA
2.2%
2.0%
·
2.3%
2.1%
1.8%
·
1.5%
1.3%
1.2%
0.96%
0.69%
0.59%
0.66%
0.63%
0.49%
ROIC
5.8%
5.3%
·
5.8%
6.0%
5.8%
·
6.0%
5.8%
6.1%
6.5%
6.1%
6.0%
6.7%
6.3%
7.4%
Liquidity & Solvency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Current Ratio
0.8
0.9
·
0.7
0.7
0.8
·
0.7
1.1
0.9
0.8
0.8
0.8
0.9
1.0
1.0
Quick Ratio
0.7
0.8
·
0.7
0.7
0.8
·
0.6
1.1
0.8
0.7
0.8
0.0
0.0
0.0
0.0
Efficiency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Asset Turnover
0.1
0.1
·
0.1
0.1
0.1
·
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.1
Receivables Turnover
2.8
2.7
·
3.1
3.3
2.9
·
3.0
3.3
5.6
6.0
5.9
·
·
·
·
Valuation (TTM)2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Revenue TTM
$1.61B
$1.63B
·
$1.61B
$1.57B
$1.52B
·
$1.46B
$1.44B
$1.40B
$1.31B
$1.28B
$1.27B
$1.28B
$1.25B
$1.23B
Net Income TTM
$375M
$369M
·
$330M
$291M
$250M
·
$190M
$167M
$142M
$103M
$91M
$88M
$79M
$66M
$55M
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
$1.62B
$1.50B
$1.35B
$1.28B
$1.20B
Operating Margin %
62.2%
61.5%
60.6%
62.1%
60.4%
Net Income
$353M
$223M
$119M
$84M
$46M
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Current Ratio
0.8
0.7
0.7
0.8
0.8
Quick Ratio
0.8
0.6
0.6
0.0
0.0
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Free Cash Flow
$728M
$634M
$643M
$623M
$632M
Institutional owners (13F)
315 filers
· $4.4B 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.
Holders315
Value held$4.4B
New positions40
Exited positions36
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
40 (-29 vs prior Q)
36 (-1 vs prior Q)
114 (+17 vs prior Q)
80 (-8 vs prior Q)
+13.4M
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.
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
GIP II Blue Holding Partnership, L.P., GIP II Blue Holding, L.P., GIP Blue Holding GP, LLC, Global Infrastructure GP II, L.P., Global Infrastructure Investors II, LLC
×3 filings
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders
14 insiders
· 6 officers · 9 directors