| Market Cap | $92.22B | |
| Enterprise Value | $82.69B | |
| Revenue | $12.65B | +10.3% |
| Gross Profit | $10.49B | +10.1% |
| EBITDA | $2.61B | −0.3% |
| Net Income | $2.52B | −5.2% |
| Diluted EPS | — | — |
| Free Cash Flow | $4.53B | — |
| Ratio | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 75.10% | 74.07% | 80.71% | 82.15% | 82.83% | 83.08% | 82.96% | 79% | 98% | |
| Operating Margin | −10.44% | −106.28% | 7.16% | 21.45% | 15.31% | 23.00% | 20.78% | 64% | 91% | |
| EBITDA Margin | −9.25% | −104.29% | 8.59% | 21.96% | 15.62% | 23.14% | 20.92% | 64% | 81% | |
| NOPAT Margin | −8.25% | −83.96% | 5.66% | 20.42% | 15.31% | 18.28% | 16.64% | 64% | 89% | |
| Net Margin | −14.03% | −135.73% | −5.87% | 22.54% | 48.32% | 23.85% | 20.51% | 50% | 94% | |
| FCF Margin | 2.02% | −23.00% | 38.18% | 40.54% | — | — | — | — | — | |
| FCFE Margin | 2.02% | −23.15% | 4.89% | 40.54% | — | — | — | — | — | |
| OCF Margin | 4.64% | −21.91% | 38.60% | 40.84% | 39.17% | 40.70% | 37.95% | 36% | 96% | |
| Gross Profitability | — | 23.85% | 35.28% | 43.02% | 39.79% | 44.01% | 45.73% | 92% | 87% | |
| Capex Intensity | 2.61% | 1.10% | 0.42% | 0.30% | — | — | — | — | — | |
| ▸Returns on Capital · 4 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||
| ▸Liquidity & coverage · 5 ratios | ||||||||||
| ▸Leverage · 9 ratios | ||||||||||
| ▸Working capital · 3 ratios | ||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||
| ▸Per share · 3 ratios | ||||||||||
The five drivers multiply to 31.5% vs reported ROE 30.2%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $4.81B | $3.38B | $5.99B | $8.40B | $9.92B | $11.10B | $12.24B |
| YoY % | -29.7% | +77.4% | +40.2% | +18.1% | +11.9% | +10.3% | |
| Cost of Revenue | $1.20B | $876.0M | $1.16B | $1.50B | $1.70B | $1.88B | $2.09B |
| YoY % | -26.8% | +32.0% | +29.7% | +13.6% | +10.3% | +11.1% | |
| R&D Expense | $976.7M | $2.75B | $1.43B | $1.50B | $1.72B | $2.06B | $2.35B |
| YoY % | +181.9% | -48.2% | +5.4% | +14.6% | +19.4% | +14.5% | |
| Selling & Marketing Expense | $1.62B | $1.18B | $1.19B | $1.52B | $1.76B | $2.15B | $2.59B |
| YoY % | -27.5% | +0.9% | +27.8% | +16.3% | +21.8% | +20.5% | |
| SG&A Expense | $697.2M | $1.14B | $836.0M | $950.0M | $2.02B | $1.19B | $1.34B |
| YoY % | +62.8% | -26.3% | +13.6% | +113.2% | -41.5% | +13.2% | |
| Total Operating Expenses | $5.31B | $6.97B | $5.56B | $6.60B | $8.40B | $8.55B | $9.70B |
| YoY % | +31.3% | -20.2% | +18.6% | +27.3% | +1.8% | +13.4% | |
| Operating Income | -$501.5M | -$3.59B | $429.0M | $1.80B | $1.52B | $2.55B | $2.54B |
| YoY % | +320.0% | -15.8% | +68.2% | -0.4% | |||
| Other Non-Operating Income | $13.9M | -$947.0M | -$304.0M | $1.0M | -$137.0M | -$40.0M | -$112.0M |
| Equity Method Income | -$6.0M | -$8.2M | -$4.0M | -$5.0M | -$6.0M | — | — |
| Impairment of Real Estate | — | — | $113.0M | $91.0M | $0 | $0 | $0 |
| YoY % | -19.5% | -100.0% | |||||
| Pretax Income | -$411.7M | -$4.68B | -$300.0M | $1.99B | $2.10B | $3.33B | $3.14B |
| YoY % | +5.7% | +58.5% | -5.8% | ||||
| Income Tax | $262.6M | -$97.0M | $52.0M | $96.0M | -$2.69B | $683.0M | $626.0M |
| YoY % | +84.6% | -8.3% | |||||
| Net Income | -$674.3M | -$4.58B | -$352.0M | $1.89B | $4.79B | $2.65B | $2.51B |
| YoY % | +153.1% | -44.7% | -5.2% | ||||
| Net Income to Common | — | -$4.58B | -$352.0M | $1.89B | $4.79B | $2.65B | $2.51B |
| YoY % | +153.1% | -44.7% | -5.2% | ||||
| Weighted Avg Shares (Basic) | 260.6M | 284.0M | 616.0M | 637.0M | 637.0M | 632.0M | 613.0M |
| YoY % | +9.0% | +116.9% | +3.4% | 0.0% | -0.8% | -3.0% | |
| Weighted Avg Shares (Diluted) | 260.6M | 284.0M | 616.0M | 680.0M | 662.0M | 645.0M | 623.0M |
| YoY % | +9.0% | +116.9% | +10.4% | -2.6% | -2.6% | -3.4% |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
